Historia Del Arte en Iberoamérica y Filipinas. Materiales didácticos III: Artes plásticas

7/21/2019 Historia Del Arte en Iberoamérica y Filipinas. Materiales didácticos III: Artes plásticas

http://slidepdf.com/reader/full/historia-del-arte-en-iberoamerica-y-filipinas-materiales-didacticos-iii 1/466



!"#$%&"' )*+ '&$* *, "-*&%'./&"0'1 2"+"3",'#

.'$*&"'+*# )")40$"0%# """5'&$*# 3+4#$"0'#



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'#

.'$*&"'+*# )")40$"0%# """5'&$*# 3+4#$"0'#

0'&+%# )%.6,78*9&'2'*+ -&"%,*#

:*;<=>

7&',')'?@@A

!"#$%&"' )*+ '&$* *, "-*&%'./&"0'1 2"+"3",'#

.'$*&"'+*# )")40$"0%# """5'&$*# 3+4#$"0'#

)BCDEFGC ;D HI <DCBD5&'2'*+ +J3*9 789.4,

0GGC;BKIEBLK 0BDKFMNBEI&%)&"7% 78$"/&&*9 O"P8'+*# Q .= +8"#' -*++")% 7',$

'RFGCD<.= += -*++")% 7',$S 7= *#3",%#' #36,%+'S += 7"+'

.*)",'S &= 78$"/&&*9 O"P8'+*#S &= +J3*9 789.4,S '=&8"9 78$"/&&*9 1 .= '= #%&&%0!* 08*&O'

!"#"$%&'(# *('(# +(# '"$",-(#. /#*0 1$(-232'( $"1$('4,2$ ( *$&5#62*2$ "#*& 143+2,&,2758 *(*&+

( 1&$,2&+6"5*"8 1($ ,4&+942"$ 6"'2(8 #25 +& &4*($2:&,275 ";1$"#& '" /'2*($2&+ <52%"$#2'&' '"

=$&5&'&8 3&>( +&# #&5,2(5"# "#*&3+",2'&# "5 +&# +"?"#.

@ ABC D<EB!/C F=$41( '" G5%"#*2H&,275 '"+ IDG8 J<K LMNO.PBB!QGRDPGSR ETPRGPDU =<DQDA<I/ !BK/!B.

@ <RGV/!CGQDQ Q/ =!DRDQD.JGCEB!GD Q/A D!E/ /R GW/!BDKT!GPD X YGAGIGRDC. KDE/!GDA/CQGQZPEGPBC GGGU D!E/C IAZCEGPDC.

@ QG!/PPGSR Q/ AD C/!G/U !DYD/A ASI/[ =<[KZR.@ GCWRUL\]^^L]^_N_]`. Q"17#2*( +"H&+U =!]_a\]_MMb.@ /'2*&U /'2*($2&+ <52%"$#2'&' '" =$&5&'&8 P&614# <52%"$#2*&$2(@ '" P&$*4>&. =$&5&'&.@ Y(*(,(61(#2,275U E&++"$ '" Q2#"c( =$0d2,( ? I43+2,&,2(5"#8 C.A. =$&5&'&

@ G61$26"U G61$"5*& P(6"$,2&+. K(*$2+. =$&5&'&.@ I$25*"' 25 C1&25 G61$"#( "5 /#1&c&

",$&%)800"J,

+I TCD<DKFD D;BEBLK EGUTHDFI DH TCGQDEFGS DKEICVI;G TGC HI *;BFGCBIH 8KBWDC<BFICBI;D 7CIKI;I I RK VCRTG ;D TCGND<GCD< ;DH )DTICFIUDKFG ;D !B<FGCBI ;DH 'CFDS EGK<B<XFDKFD DK HI TRYHBEIEBLK ;D FCD< UIKRIHD< :TCD<DKFI;G< YIZG DH CLFRHG ;D [UIFDCBIHD<;B;\EFBEG<]> ^RD EGCCD<TGK;DK I I<BVKIFRCI< CDNDCB;I< IH ICFD Q HI IC^RBFDEFRCI ;D'U_CBEI Q 2BHBTBKI<S ^RD <D BUTICFDK DK KRD<FCI +BEDKEBIFRCI= *H TCD<DKFDS ;D;BEI;G IHI< ICFD< TH\<FBEI< DKFCD HG< <BVHG< `O" Q ``S <D <RUI I HG< ;G< TCBUDCG< FGUG<S;D;BEI;G< CD<TDEFBWIUDKFD I HI< 0RHFRCI< 3CDaB<T\KBEI<S Q I HI 'C^RBFDEFRCI Q DH

8CYIKB<UG :<BVHG< `O"X``>=*<FD FDCEDC WGHRUDK <D D<FCREFRCI UD;BIKFD EITMFRHG< ^RD EGCCD<TGK;DK I UGUDKXFG< ERHFRCIHD< <GYCD<IHBDKFD< ;D HI aB<FGCBI IUDCBEIKIS QS EGUG <D aBbG DK HI< IKFDCBGCD<D;BEBGKD<S EI;I RKG ;D DHHG< HHDWI IKDcG< EGUDKFICBG< ;D HI< GYCI< U\< CDTCD<DKFIFBXWI< Q RK IT_K;BED ;GERUDKFIH ^RD FBDKDK EGUG NBKIHB;I; NIEBHBFIC EGUDKFICBG< Q;DYIFD< DK DH IRHI= *H FGUG <D EGUTHDFI EGK RKI YBYHBGVCINMI Y\<BEI ;D GYCI< EH\<BEI<Q ;D N\EBH IEED<G DK HI< YBYHBGFDEI< RKBWDC<BFICBI< D<TIdGHI<= #D BKFDVCI DK HI D;BEBLKSI<BUB<UGS RK 0) &GU ^RD TDCUBFBC\ <DVRBC DH FDcFG BUTCD<G TDCG EGK HI< BU\VDKD< DKEGHGCS IEGC;D EGK KRD<FCI TG<FRCI ;D TGKDC I HI< KRDWI< FDEKGHGVMI< DK NRKEBLK ;D HIBKWD<FBVIEBLK Q HI ;GEDKEBI EGUG aDCCIUBDKFI< ;D DNBEIEBI=

*< DWB;DKFD ^RD ECDDUG< KDED<ICBG IYGC;IC DK NGCUI VCI;RIH Q EGKFBKRI;I HICDIHBbIEBLK ;D FICDI< ;D <MKFD<B<S Q U\< ERIK;G <D FCIFI ;D RK I<TDEFG EGUG D< DH ICFD;D "YDCGIU_CBEIS KG <RNBEBDKFDUDKFD BKEGCTGCI;G IH ;B<ERC<G ;DH ['CFD 8KBWDC<IH]= #BYBDK ;D<;D HG< FCD< FGUG< EGGC;BKI;G< TGC )BDVG 'KVRHG "dBVRDb Q ^RD _<FD CDIHBbL ZRKFG I *KCB^RD .ICEG )GCFI Q .ICBG e= -R<EaBIbbGS !B<FGCBI ;DH ICFD !B<TIKGIUDCBX EIKG :-ICEDHGKIS fghAXfgAi>S EGK<B;DCI;I HI TCBUDCI VCIK GYCI DK DH <DKFB;G <DdIHIX;GS <D <RUICGK KRDWG< aBFG< aB<FGCBGVC\NBEG<S <D aIEMI KDED<ICBG IEGUDFDC HI EGKECDEBLK;D UIKRIHD< DK DH <DKG TCGTBG ;D HI 8KBWDC<B;I;= !I<FI DH UGUDKFGS DH TCGQDEFG DK^RD D<FIUG< BKUDC<G< EGKNGCUI DH FCIYIZG ;D UIQGC DKWDCVI;RCI ;DKFCG ;D D<FG<HBKDIUBDKFG<=

*K DH UD< ;D UICbG ;D ?@@h KRD<FCG VCRTG ;D BKWD<FBVI;GCD< IUDCBEIKB<FI< GCVIXKBbL DH #DUBKICBG [*H 'CFD "YDCGIUDCBEIKG I )DYIFD] DK HI EBR;I; ;D #IKFI 2D :7CIXKI;I>= *K DH UB<UG TICFBEBTICGK TCGND<GCD< ;D KRUDCG<I< RKBWDC<B;I;D<S <BDK;G ZR<FIUDKFD

",$&%)800"J,j

RKG ;D HG< NIEFGCD< ^RD U\< <D <DdIHICGK EGUG KDED<ICBG< HI CDIHBbIEBLK ;D UIKRIHD<D<TDEBIHBbI;G< ;D<FBKI;G< I HI< RKBWDC<B;I;D< D<TIdGHI< EGK HI NBKIHB;I; ;D EGK<GHBX;IC DH FDUI DK HG< \UYBFG< IEI;_UBEG<= *HHG NRD TICI KG<GFCG< ;DUG<FCIFBWG ;D ^RD HIFICDI ^RD D<FIUG< ;D<DUTDdIK;G VGbI ;D RKI WBVDKEBI IY<GHRFI Q KGWD;G<I=

*<FG< [UIFDCBIHD< ;B;\EFBEG<] TCDFDK;DK TCD<DKFIC RK TIKGCIUI ;D HI DWGHREBLK;D HI IC^RBFDEFRCIS HI TBKFRCIS HI D<ERHFRCI Q GFCI< UIKBND<FIEBGKD< ICFM<FBEI< DK "YDCGXIU_CBEI ;D<;D HI TDC<TDEFBWI ;D <R BKFDVCIEBLK DK DH TCGED<G aB<FLCBEG ;D HI DWGHRXEBLK ERHFRCIH ;DH EGKFBKDKFD= #B YBDK D< EBDCFG ^RD HI [UD<FBbIEBLK ERHFRCIH] <D ;D<ICCGHHLFIUYB_K DKFCD HI< EBWBHBbIEBGKD< TCDEGHGUYBKI<S ;GK;D TICFBERHICUDKFD HG< BUTDCBG<UD<GIUDCBEIKG< Q IK;BKG< BKFDVCICGK ;BNDCDKFD< NIEDFI< Q UIKBND<FIEBGKD< ;D GFCI<DFKBI< ;GUBKI;I<S aDUG< GTFI;G DK D<FD FGUG """ TGC ;D<ICCGHHIC HI< FCIQDEFGCBI<ICFM<FBEI< ;D<;D DH UGUDKFG DK ^RD <D TCG;RED DH ;DKGUBKI;G [*KERDKFCG ;D ;G<URK;G<] I NBKIHD< ;DH <BVHG `OS QI ^RD I HG 3CDaB<T\KBEGS EGUG <D BK;BELS <D ;D;BEIRK WGHRUDK D<TDEMNBEG=

8KI ;D KRD<FCI< I<TBCIEBGKD< DK D<FG< [UIFDCBIHD< ;B;\EFBEG<] D< HI ;D UG<FCIC DKHG TG<BYHD RK D^RBHBYCBG DKFCD HG ^RD aI <BVKBNBEI;G DH ITGCFD aB<T\KBEG Q ;D GFCI<TCGED;DKEBI< DK HI ERHFRCI IUDCBEIKIS IKIHBbIC HG< TCGED<G< ;D I;ITFIEBLK Q EIUYBG^RD D<G< ITGCFD< FRWBDCGK QS I HI WDbS WGHWDC I BK<B<FBC DK HI< TDERHBICB;I;D< TCGTBI<;D HI< ERHFRCI< ;DH ,RDWG .RK;G DK <R< ;BWDC<I< UIKBND<FIEBGKD<= +I BK<DCEBLK ;D HIERHFRCI IUDCBEIKI DK DH EGKFDcFG ;D HI aB<FGCBI ;DH URK;G GEEB;DKFIH <BVKBNBEL RKNRDCFD BUTIEFG CDEMTCGEGS TRD< <B YBDK HI TCD<DKEBI DRCGTDI IHFDCL ;DNBKBFBWIUDKFD DHEIC\EFDC ;D HI< IKFBVRI< ERHFRCI< CDVBGKIHD< Q HD< ;BG EGKEBDKEBI ;D RKB;I; EGKFBKDKXFIHS FIUYB_K DH KRDWG D<EDKICBG URK;BIH UG;BNBEICMI a\YBFG< Q EG<FRUYCD< DK HG< TIMX<D< EDKFCIHD<S QI ^RD DH GCG Q HI THIFI ;D 'U_CBEI TG<BYBHBFICGK HI EGK<FCREEBLK ;DHBUTDCBG DERU_KBEG ;D HI EI<I CDIH ;D HG< 'R<FCBI<=

*K HI FCIK<ERHFRCIEBLK BKBEBIH D< TG<BYHD DKFDK;DC DH TCGED<G ;D EGK<GHB;IEBLK ;D D<FI<UIKBND<FIEBGKD< ICFM<FBEI<= *K DH EDKFCG DUB<GC ;D HI ERHFRCI ;GKIKFDX;GUBKIKFD <D TCG;RXEDK TCGED<G< ;D <DHDEEBLK Q <MKFD<B< ̂ RD TCGQDEFIK DK HI ERHFRCI ;D EGK^RB<FI RK BUIVBKIXCBG ;BWDC<G IH ;D HI TCGTBI NRDKFD DUB<GCI= *H D<TIdGH ;DYBL <DHDEEBGKIC Q <BKFDFBbIC HG<DHDUDKFG< ̂ RD BKFDVCIYIK <R YIVIZD ERHFRCIHS ;D FIH UIKDCI ̂ RDS ;D HI< UkHFBTHD< HDKVRI<^RD <D aIYHIYIK DK *<TIdIS I 'U_CBEI <GHG TI<L RKI5 DH EI<FDHHIKG= "KFDVCIEBLKS <BKECDFB<XUGS UMUD<B<S FCIK<VCD<BLKS <GK NGCUI< aIYBFRIHD< ;D DcTCD<BLK ;D D<FI KRDWI ERHFRCI BYDCGXIUDCBEIKIS I HI ̂ RD <D IVCDVIC\K TGEG ;D<TR_< HG< EGUTGKDKFD< INCBEIKG< Q HG< CDKGWI;G<ITGCFD< ;D GFCI< TCGED;DKEBI< DRCGTDI< ;D<;D DH <BVHG ̀ "`=

*H ;D<TGFB<UG BHR<FCI;GS DK HI <DVRK;I UBFI; ;DH `O"""S FCI<HI;L I 'U_CBEI RKECDEBDKFD EGKFCGH ^RD <D UIKBND<FL EGK HI ECDIEBLK ;D HI< 'EI;DUBI< ;D -DHHI< 'CFD<S;D<ICFBERHIK;G DH IEDBFI;G <B<FDUI VCDUBIH ^RD aIYMI TCDWIHDEB;G aI<FI DKFGKED<= +I<IEI;DUBI< <GUDFBDCGK I HI< ICFD< I RKI< ;B<EBTHBKI< CMVB;I< Q DK YRDKI UD;B;I BKFCI<XEDK;DKFD< TICI DH EGKFBKDKFD= *<FI CRTFRCI EGK HI< TC\EFBEI< ^RD DCIK aIYBFRIHD< DK HI_TGEI WBCCDBKIHS EGKFBKRL <R TCGED<G DKFCI;G DH `"`= +I< VRDCCI< ;D HI "K;DTDK;DKEBINIWGCDEBDCGK DH TI<G ;DH UDEDKIbVG ;D HI< ICFD< ;D<;D HI "VHD<BI I HG< KRDWG< TG;DCD<TGHMFBEG<l <DC\ DH BKBEBG ;D RKI HMKDI ;D HI ERIH ;DCBWICMIK FD<FBUGKBG< FIK WICBI;G<EGUG HG< CDFCIFG< ;D HG< a_CGD< ;D HI DUIKEBTIEBLK Q GFCG< TCLEDCD< ;D HI< KRDWI<KIEBGKD<S HI< TBKFRCI< ;D FDU\FBEI aB<FLCBEI G HG< UGKRUDKFG< EGKUDUGCIFBWG<S YI<IXUDKFG NRK;IUDKFIHS D<FG< kHFBUG<S DK HI EGKNGCUIEBLK ;D RK KRDWG D<EDKICBG RCYIKG=

",$&%)800"J, g

*K D<FI CDKGWIEBLK ;D HI< UIKBND<FIEBGKD< ICFM<FBEI< ;RCIKFD DH `"`S <D aIED BUXTCD<EBK;BYHD ;D<FIEIC HI< GYCI< CDIHBbI;I< TGC HG< WBIZDCG< DRCGTDG< ;DH CGUIKFBEB<UGS^RBDKD< IEGUDFBDCGK HI CDTCD<DKFIEBLK ;D FDU\FBEI< TIB<IZM<FBEI< Q EG<FRUYCB<FI<= #DEGK<GHB;L I<M RK ;DCCGFDCG BEGKGVC\NBEG ^RDS <BK EGKFIC EGK DH BKD<FBUIYHD WIHGC ;GERXUDKFIH ^RD ;BEaI< CDTCD<DKFIEBGKD< <RTR<BDCGKS VGbICMIS <R<FDKFI;G TGC B;DIHD< KIXEBGKIHB<FI< Q IUDCBEIKB<FI<S ;D RKI CDWBFIHBbIEBLK DK HI< TCBUDCI< ;_EI;I< ;DH ``= +IECB<B< ;DH UG;DHG EBWBHBbIFGCBG DRCGTDGS ^RD HI TCBUDCI VRDCCI URK;BIH :fgfhXfgfj>TR<G DK DWB;DKEBIS HHDWL I HG ^RD DK TIHIYCI< ;D 'CKGH; $GQKYDD <DCMI [RKI BCCBFI;IBKFCG<TDEEBLK] THIKFDIK;G HI CD;DNBKBEBLK ;D RK TDK<IUBDKFG IUDCBEIKB<FIS ^RD DKXEGKFCL EIUTG TCGTBEBG DK HG< UGWBUBDKFG< <GEBIHD<S BK;BVDKB<FI< Q KIEBGKIHB<FI< ^RD<D ;D<ICCGHHICGK DK I^RDHHG< UGUDKFG<= 3GEG ;D<TR_< <D TCG;REBCMI HI BCCRTEBLK ;D HI<WIKVRIC;BI<S FDdB;I< TGC <R< <DUDZIKbI< CD<TDEFG ;D HI< TCG;REEBGKD< DRCGTDI< EGKXFDUTGC\KDI<= #D CDIKR;ICGK I<M HG< HIbG< EGK HG< IKFBVRG< VDKDCI;GCD< ;DH TDK<IXUBDKFG ;DH OBDZG .RK;GS IRK^RD EGK RKI UICEI;I BKFDKEBLK ;D IVVBGCKIC HG< HDKVRIZD<;DH ICFD TICFBDK;G DK UREaG< EI<G< ;D HI< TCGTBI< FCI;BEBGKD<S EGUG <D UIKBND<FL DKHI< GYCI< ;D HG< UG;DCKB<FI< YCI<BHDdG<S HG< CDWGHREBGKICBG< UDcBEIKG< G HG< WIKVRICX;B<FI< CBGTHIFDK<D<S TGC EBFIC IHVRKG< EI<G<=

)I;I HI THRCIHB;I; ;D FDK;DKEBI< D BKNBKB;I; ;D KGUYCD< ^RD ZIHGKIK DH ICFD ;DH<BVHG ``S HG ^RD D< BVRIH I ;DEBC BKIYICEIYBHB;I;S aDUG< IEFRI;G I^RM DK NRKEBLK ;DHI< KDED<B;I;D< TD;IVLVBEI< ^RD HI< I<BVKIFRCI< ^RD BUTICFBUG< KG< ;DUIK;IK= 8KHDEFGC UD;BIKIUDKFD EGKGED;GC KG FDK;C\ ;BNBERHFI; DK I;WDCFBC IR<DKEBI< ^RD TRDX;DK EGK<B;DCIC<D KGFIYHD<l <GUG< EGKEBDKFD< ;D DHHG= #BDK;G UREaI< HI< ;BNBERHFI;D<^RD <D THIKFDIYIK DK D<FI FICDI ;D <MKFD<B<S GTFIUG< TGC DHDVBC ;DFDCUBKI;G< aBHG<EGK;REFGCD<S BKEHBK\K;GKG< DK D<FD EI<G TGC BKFDVCIC DK DH TCGQDEFG RKI <DCBD ;DEITMFRHG< DK HG< ^RD DH <D<VG B;DKFBFICBG IUDCBEIKB<FI <D EGKWBCFBDCI DK DH EGKEDTFGCDEFGC TGC IKFGKGUI<BI=

+G< IHYGCD< ;DH <BVHG ``" D<F\K FCIQDK;G EGK<BVGS TICI HG< aB<FGCBI;GCD< ;DH ICFDHIFBKGIUDCBEIKGS RK IN\K CDWB<BGKB<FI FDK;DKFD I <BKFDFBbIC Q <B<FDUIFBbIC YIZG aBHG<EGK;REFGCD< HI TCG;REEBLK ICFM<FBEI ;DH EGKFBKDKFD= ,G D< FICDI N\EBH QS IRK^RD <D aIIWIKbI;G YI<FIKFD DK D<FD <DKFB;GS IRK <GK WICBI< HI< ERD<FBGKD< TGC CD<GHWDC= #BKDUYICVGS aIQ WICBI;I< TIRFI< <GYCD HI< ^RD <D aI WDKB;G FCIYIZIK;G Q TCGNRK;BbIKX;G DK HG< kHFBUG< IdG<S THIKFD\K;G<D BKFDCD<IKFD< ;DYIFD< DK HG< ^RD aIK FGUI;GTICFD ICFB<FI<S aB<FGCBI;GCD<S ECMFBEG<S UICEaIKFD< Q GFCG< EGUTGKDKFD< ;DH URK;BHHG ;DHICFD=

8KG ;D HG< VCIK;D< FDUI< ;D ;B<ER<BLK ICFM<FBEI DK "YDCGIU_CBEIS I HG HICVG ;DH<BVHG ^RD IEIYI ;D NDKDEDCS <D aI TIRFI;GS EGUG aDUG< I;WDCFB;GS DK FGCKG I HIB;DKFB;I;S KIEBGKIH Q IUDCBEIKI= +I< EGKFCGWDC<BI< IH CD<TDEFG aIK IHEIKbI;G UGXUDKFG< \HVB;G<S DK UREaG< EI<G< IEGUTIdIK;G HI< ECB<B< TGHMFBEI< Q <GEBIHD< ;D I^RDXHHG< TIM<D<S ^RD KG aIK <B;G TGEI<= *H DZDUTHG ;D HG< IdG< <DFDKFIS EGK ;BEFI;RCI<UBHBFICD< BK<FIHI;I< DK FG;G DH FDCCBFGCBGS D< TIHTIYHDl DK D ;D HI< UIKBND<FIEBGKD< ICFM<FBEI<=

*H aB<FGCBI;GC ;D ICFD XDK VDKDCIHX aI I<RUB;G EGUG FICDI TCGTBI DH TITDH ;DCDWB<BGKB<FI Q aI DKEGKFCI;G DK D<D IUTHBG EGCTR< FDLCBEG TCG;REB;G I HG HICVG ;D HI<;_EI;I< WIHBG<I< NRDKFD< ^RD aGQ TDCUBFDK UICEIC ;BCDEFCBED< EBDCFI<= *H TCGED<G ;D

",$&%)800"J,f@

EGK<GHB;IEBLK ;D HI aB<FGCBGVCINMI ;DH ICFD HIFBKGIUDCBEIKGS DK ERQI INBCUIEBLK aI<B;G D<DKEBIH DH ;DWDKBC BKWD<FBVI;GC ;D HI kHFBUI ;_EI;IS aI UIKBND<FI;G RKI ;GYHDWDCFBDKFD ^RD <D DWB;DKEBI EGK EHICB;I; DK HI< TRYHBEIEBGKD<5 TGC RK HI;GS HI DcB<FDKXEBI ;D [aB<FGCBI<] ;D EGCFD HGEIHB<FIS ;D EGK<RUG CD;REB;GS ^RD ITGCFI EGKFDKB;G< ^RD;BNMEBHUDKFD IHEIKEDK RKI ;BNR<BLK U\< IHH\ ;D HG< TCGTBG< TIM<D< DK HG< ^RD <D EGKECDXFIK= 3GC GFCGS aIQ RKI aB<FGCBGVCINMI ERQI BKFDKEBLK UIKBNBD<FI D< HI ;BWRHVIEBLK ;DHEGKGEBUBDKFG NRDCI ;D HI< TCGTBI< NCGKFDCI<S FDK;DKFD I UG<FCIC HI GYCI Q HG< TDCBG;G<U\< CDHDWIKFD< ;DH ICFD HIFBKGIUDCBEIKG=

+I aB<FGCBGVCINMI D<F\ I<BUB<UG UICEI;I TGC DH [YGGU] ;DH UDCEI;G KDGQGC^RBKGQ HI< ;BCDEFCBED< ;DFDCUBKI;I< TGC HI< VCIK;D< EI<I< ;D <RYI<FI< 0aCB<FBDm< Q #GFaDYQm<^RDS ;D<;D TCBKEBTBG< ;D HG< GEaDKFIS aIK WDKB;G DNDEFRIK;G TDCBL;BEIUDKFD <R<DcBFG<I< <RYI<FI<= 'RK ERIK;G HG< CD<RHFI;G< ;D FIHD< WDKFI< KG ;DYDK FGUIC<D EGUGCDNDCDKEBI ;DNBKBFBWI TICI ;DFDCUBKIC HI DWGHREBLK aB<FLCBEI ;DH UDCEI;G EGKFBKDKFIHSQI ^RD DcB<FD RKI URQ KRUDCG<I Q <BVKBNBEIFBWI TCG;REEBLK ICFM<FBEI DK EI;I RKG ;DHG< TIM<D< ^RD KG FCI<EBDK;D HI< NCGKFDCI<S KG TRD;D KDVIC<D ^RD HI EBCERHIEBLK ;DGYCI< HIFBKGIUDCBEIKI< DK HG< VCIK;D< EDKFCG< BKFDCKIEBGKIHD< aI EIR<I;G KGFIYHD<DNDEFG< DK HG< UDCEI;G< KIEBGKIHD<= 3CG;REFG ;D HG< IWIFICD< ;DH UDCEI;G aIK <B;GDK YRDKI UD;B;I HI ITICBEBLK Q EGK<GHB;IEBLK ;D ICFB<FI< aI<FI D<D UGUDKFG EI<B;D<EGKGEB;G< NRDCI ;D <R< TIM<D< D BKEHR<BWD DK D<FG<= +I D;BEBLK ;D EIF\HGVG< BHR<XFCI;G< TCGTBEBL RKI ;BWRHVIEBLK UI<BWI ;D BU\VDKD< ^RD TDCUBFBDCGK I HG< WDKDbGHIXKG< EGKGEDC HI< TCG;REEBGKD< ;D HG< RCRVRIQG<S G I D<FG< HI ;D HG< EICBYDdG<S Q I<M <RED<BWIUDKFD=

3DCG FIUYB_K FCIZG EGK<BVG IHVRKG< D<FBVUI< aB<FGCBGVC\NBEG< EGUG DH HHIUI;G NCBX ;InIaHB<UG S YI<I;G DK HI DcTHGFIEBLK BKED<IKFDS CDTDFBFBWI Q EIK<I;GCI ;D RKI UB<UINBVRCI :DK D<FD EI<G HI UDcBEIKI 2CB;I oIaHG> aI<FI EGKWDCFBC<D DK TICI;BVUI EI<BBCCDKRKEBIYHD ;DH ICFD HIFBKGIUDCBEIKG Q DK NBVRCI TCBKEBTIHS U\< TGC <R FCIVD;BI TDCX<GKIH ^RD TGC HI BK;R;IYHD EIHB;I; ;D <R< GYCI<= 0GK YRDK ECBFDCBGS .ICB 0ICUDK&IUMCDb Q !_EFGC %HDIS EGUB<ICBG< ;D HI DcTG<BEBLK "KWDCFD; 8FGTBI<5 'WIKFX7IC;D 'CF BK +IFBK 'UDCBEI S BKIRVRCI;I DK ZRKBG ;D ?@@h DK DH .R<DRU GN 2BKD 'CF< ;D!GR<FGKS aIK ;DEB;B;G TCD<DKFIC RKI IUTHBI CDFCG<TDEFBWI ;DH ICFD EGKFDUTGC\KDG<BK BKEGCTGCIC GYCI IHVRKI ;D oIaHGS EGK DH NBK ;D ^RD HG< WB<BFIKFD< TR;BDCIK EDKFCICX<D DK I;WDCFBC HI GYCI ;D GFCG< ECDI;GCD< Q ;DUG<FCIC ^RD <GK TG<BYHD< GFCG< ;B<ERCX<G<=

*H ICFD IEFRIH DK "YDCGIU_CBEI <D EICIEFDCBbI TGC HI IUTHBFR; ;D TG<BYBHB;I;D< Q HIEGKWBWDKEBI ;D WICBI;I< FDK;DKEBI<= *KFCD <R< UkHFBTHD< <DdI< ;D B;DKFB;I; ;D<FIEIHI WBVDKEBI ;D EBDCFI< WDCFBDKFD< ICFM<FBEI< EGK ICCIBVG DK NGCUI< TCDaB<T\KBEI<S DKDcTCD<BGKD< TGTRHICD< DKFCD HI< ^RD <GYCD<IHDK I^RDHHI< WBKERHI;I< I CBFRIHD< CDHBVBGX<G<S DK GFCI< EG<FRUYCD< RCYIKI< Q CRCIHD< QS TGC <RTRD<FGS DK DH TIB<IZD= $G;G DHHGEGKWBWBDK;G EGK GFCI< ECDIEBGKD< ^RD WIK ;D<;D HG< GYZDFG< ;D HI WB;I EGFB;BIKIEGKFDUTGC\KDIS DH EGK<RUB<UG Q HI FDHDWB<BLKS aI<FI HI< CDNHDcBGKD< ECMFBEI< <GYCD HI;B<TIC TGHMFBEI ;D HG< VGYBDCKG< ;DH EGKFBKDKFD= *<FI< EGKWDCVDKEBI< TH\<FBEI< DK HI<^RD <D UDbEHIK HI aB<FGCBI Q DH TCD<DKFDS FDCUBKIK TGC EGKNBVRCIC RK TIKGCIUI ICFM<FBXEG <BKEC_FBEG Q ;D VCIK <BKVRHICB;I;=

+I UDKEBGKI;I TDCWBWDKEBI EGKFDUTGC\KDI ;D HI< DcTCD<BGKD< TCDaB<T\KBEI< QWBCCDBKIHD<S Q <R RFBHBbIEBLK IEFRIH EGUG NRDKFD ;D BK<TBCIEBLK ;D HI< ECDIEBGKD< ICFM<X

",$&%)800"J, ff

FBEI< DK HI< ;B<FBKFI< KIEBGKD< IUDCBEIKI<S KG <GK U\< ^RD HI CDEGKNBCUIEBLK ;D RKD<TMCBFR Q ;D RKI CBEI FCI;BEBLK ERHFRCIH ^RDS IRK EGK <R< HLVBEG< EIUYBG<S aI UIKFDXKB;G EGUG RKI ;D <R< CIMED< BKKIFI< HI< DcTCD<BGKD< ;DH TRDYHG HHIKG= +I EGUTCDKX<BLK ;DH ICFD IUDCBEIKG ;D<;D HI TDC<TDEFBWI ;DH UD<FBbIZDS ;D HI ITDCFRCI Q KG ;DHEBDCCDS ;DH EGKEDTFG IUTHBGS BKEHRQDK;G HG TGTRHIC EGUG RKG ;D <R< NIEFGCD< ;DFDCUBXKIKFD< Q KG HBUBF\K;GKG= *<FD TRD;D <DC RK EIUBKG TICIIHEIKbIC RK ZRBEBG IEDCFI;G IEDCEI ;D HI IRFGKGUMI Q ;DH D<TMCBFR ;D EI;I HRVIC ;DHEGKFBKDKFDS QS UD;BIKFD DHHGS TG;DC DKFDK;DC UDZGC IH [<DC IUDCBEIKG] DK <R EGKZRKFG=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f?

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fp

0'36$8+% 3&".*&%$*.'# "0%,%7&42"0%# 1 $/0,"0'# '&$6#$"0'#

'.*&"0','#

+I< ;BWDC<I< ICFD< ;D<ICCGHHI;I< ;RCIKFD DH TDCBG;G TCDaB<T\KBEGS D<TDZG ;D <RERHFRCIS <D EGHIT<ICGK EGK HI HHDVI;I ;D HG< D<TIdGHD<S Q <LHG I^RDHHG< FCIYIZG< KDEDX<ICBG< DK DH ^RDaIEDC EGFB;BIKG <D UIKFRWBDCGK <BK <GHREBLK ;D EGKFBKRB;I;S FIKFG ;DEIC\EFDC GYZDFRIH :IHNICDCG<S FDZD;GCD<S TBKFGCD< ;D ZMEICI<> EGUG BUYCBEI;G< EGK DH;D<ICCGHHG RCYIKG :EICTBKFDCG<S IHYIdBHD<S EIKFDCG<>= $IUYB_K <D EGK<DCWICGK IHVRKI<F_EKBEI< ^RD TCG;REMIK GYZDFG< ;D HRZGS IaGCI RFBHBbI;G< TGC HG< KRDWG< ;BCBVDKFD<SEGUG <DCMI DH EI<G ;D HI< CDIHBbIEBGKD< EGK THRUI< G HG< GCNDYCD<= *H CD<FG ;D<ITICDXEBDCGK G EIUYBICGK <R EGKFDKB;G FDU\FBEG D BEGKGVC\NBEG ERIK;G KG F_EKBEG= *K D<FD<DKFB;GS <B YBDK D< EBDCFG ^RD HI aIYBHB;I; ;D HG< KIFRCIHD< NRD <BDUTCD I;UBCIEBLK<GYCD FG;G ;D HG< UDK;BEIKFD<S FIUYB_K D< WDC;I; ^RD D<FG< EGUDKbICGK I BUBFIC IHG< ICFD<IKG< DRCGTDG< G ITCDK;BDCGK ;D <R< <B<FDUI< I FCIW_< ;D HI< *<ERDHI< ;D'CFD< Q %NBEBG<=

*KFCD D<FG< EDKFCG< FDKDUG< ^RD ;D<FIEIC DH NRK;I;G TGC 2CIQ 3D;CG ;D 7IKFD DKDH EGKWDKFG NCIKEB<EIKG ;D #IK eG<_ ;D HG< ,IFRCIHD< ;D ._cBEGS IH ^RD <BVRBDCGK DH;D $HIFDHGHEGS $BCBTDFMG :DK D<FD EI<G ;D IVR<FBKG<> Q *FHI :;GUBKBEG<>= *K 'U_CBEI ;DH#RC FDKDUG< ^RD ;D<FIEIC DH NRK;I;G TGC 2CIQ eG;GEG &BEnD :fAA?> DK #IK 2CIKEB<XEG ;D qRBFG ^RD <D EGKWBCFBL DK DH U\< ;D<FIEI;G HRVIC ;D ITCDK;BbIZD TBEFLCBEG ;D HI'R;BDKEBI=

OIHGCIC HI< ITGCFIEBGKD< ICFM<FBEI< ;D HG< IRFLEFGKG< aI <B;G DH GYZDFBWG ;D RKIUTHBG KkUDCG ;D BKWD<FBVI;GCD< EGK EGKEHR<BGKD< ;BWDC<I< QI ^RD KG DcB<FDK <RNBXEBDKFD< ;GERUDKFG< EHICBNBEI;GCD<S I<M EGUG HI IR<DKEBI ;D IRFGCMI<= ,G GY<FIKFDS HI<F_EKBEI< ;D DZDEREBLKS EHICIUDKFD TCDaB<T\KBEI<S Q HI< EGKFBKRI< CDNDCDKEBI< BK;BCDEXFI<S <GYCD FG;G ;D HI< GC;DKD< UDK;BEIKFD<S TGKDK ;D UIKBNBD<FG HI EITIEB;I;S BUTHBXEIEBLK Q CD<RHFI;G< D<F_FBEG< ;D HI< IEEBGKD< CDIHBbI;I< <GYCD FG;G DK TCGQDEFG<EGKWDKFRIHD<=

'aGCI YBDKS HI IHFI ERIHB;I; F_EKBEI Q D<F_FBEI ;D HI< CDIHBbIEBGKD< TCDaB<T\KBEI<D<F\ NRDCI ;D ;R;I Q I<MS BKEHR<GS <D WIHGCL DK <R _TGEI= -I<FD CDEGC;IC ^RD ERIK;G

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fA

HD<S ;DKGUBKI;I< HI &DBKI 7CIK;D Q HI &DBKI 0aBEIS FGUIK EIUBKG< GTRD<FG< aIEBI DH<RC IK;BKG Q DK ;BCDEEBLK I 'QIEREaG DK YR<EI ;D HBUG<KI<= %FCG DZDUTHG <DCMI HIOBCVDK ;D .GKF<DCCIF :figp> ^RD <BFkI DH TBKFGC 2CIKEB<EG 0aBaRIKFBFG DK DH TIB<IZDKIFRCIH Q RCYIKG ;DH TRDYHG ;D 0aBKEaDCG< :8CRYIUYIS 0RbEG> ;DH ^RD D< TIFCGKI=*<FI RYBEIEBLK DK D<TIEBG< TDCRIKG< ;D FDU\FBEI< CDHBVBG<I< <D CDNBDCD KG <LHG ICDNDCDKEBI< ;DH TIB<IZD <BKG FIUYB_K ;D DKFGCKG< RCYIKG< EGKECDFG<= '<M DK DH EBEHG^RD aIED <GYCD HI OB;I ;D #IK 'VR<FMK DH TBKFGC -I<BHBG 3IEaDEG TICI DH 0GKWDKFG ;D#IK 'VR<FMK ;D +BUI :fsh?Xfshi>S <BFkI DK HI 3HIbI ;D 'CUI< ;D 0RbEG DH DKFBDCCG ;DH<IKFG ^RD ;DYBDCI EGCCD<TGK;DC<D EGK HI EBR;I; ;D !BTGKI :'CVDHBI>= #D TRD;D GYX<DCWIC DK HI TBKFRCI TDCNDEFIUDKFD DH NCDKFD ;D HI THIbI EGK HI< BVHD<BI< ;DH $CBRKNG Q#IVCI;I 2IUBHBIS HI 0IFD;CIH Q DH TL<BFG=

*K TICIHDHGS HI GFCI GTEBLK TH\<FBEI TG<BYHD <D CDNBDCD I HI [EGTBI NBDH] ^RD CDTCD<DKXFI I HG< ;B<FBKFG< TDC<GKIZD< UD;BIKFD HI D<ERHFRCI G TBKFRCI ^RD GCBVBKI HI ;DWGEBLK=#GK KRUDCG<M<BUG< HG< DcB<FDKFD<= 3GC DZDUTHGS HI D<ERHFRCI ;DH 0CB<FG ;D HG< $DUYHGXCD< ;D HI EIFD;CIH ;D 0RbEG TDCNDEFIUDKFD RYBEI;G DK <R aGCKIEBKI ;DH CDFIYHG ;DH<BVHG `O""=

$IUYB_K aIQ ^RD CD<DdICS DK D<FD <DKFB;GS I^RDHHI< D<ERHFRCI< ^RD <GKS I <R WDbSCDHBEICBG<S HG ^RD TDCUBFD RKI ;DWGEBLK ;BCDEFI aIEBI DH <IKFG CDTCD<DKFI;G <BK BKFDCXUD;BICBG<= 'RK^RDS DK GEI<BGKD<S DH GCBVBKIH FBDKD WIHGCD< UBHIVCG<G< EGK<FIFI;G<='<MS DH GYB<TG .IKRDH ;D .GHHBKD;G Q 'KVRHG DKEICVIC\ HI NIUG IH D<ERHFGC BK;BG $GU\< $RQCR $RTIES I HI WDb ^RD HD aIED

',J,".%= #'7&')' 2'."+"' 0%, +' 2'."+"' )* +' O"&7*, 1 #',$' &%#' )* +".' :#"7+% `O""">= 3",'0%$*0' )*+ -',0% )* 0&/)"$% )*+ 3*&rS +".'=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fi

HHDVIC RKI I<FBHHI ;DH GCBVBKIH UI;CBHDdG IH FIHHB<FI ^RD HI BKFDVCI DK HI EIYDbI ;D HIKRDWI D<ERHFRCI= *<FI ;DWGEBLK ;DH GYB<TG D<FIYI CDHIEBGKI;I EGK <R TI<G EGUGT\CCGEG TGC HI BVHD<BI ;D HI 'HUR;DKI ;D .I;CB;=

*<D WIHGC FIRUIFkCVBEG ;BCDEFGS <BK NBHFCG<S TDCUBFD I HG< <IKFG< FBFRHICD< ;D EI;ITICCG^RBI ERb^RDdI FCI<HI;IC<D DK TCGED<BLKS TICI TICFBEBTIC EGUG D<TDEFI;GCD< TCBXWBHDVBI;G< DK CDHIEBLK EGK <R CIKVGS I HI EIFD;CIH ^RD HG< IHYDCVI EGUG [TIHIEBG<IECG] ;RCIKFD HG< ND<FDZG< ;DH 0GCTR< 0aCB<FB=

*KFCIUG< I^RM DK DH RKBWDC<G <GEBIH= +I GYCI ;D ICFD TDCUBFD I FCIW_< ;D CDNDCDKEBI<S KGFIK <DERK;ICBI< EGUG TG;CMI <RVDCBC RKI TCBUDCI HDEFRCIS TDKDFCIC DK HG< \UYBFG< TkYHBEG<SWB;I EGFB;BIKI Q WIHGCD< UGCIHD< ;D HI <GEBD;I; WBCCDBKIH= '<M <D DKFBDK;DK HG< ERI;CG< ;DHI <DCBD ;DH 0GCTR< ;D 0RbEGS TG<BYHDUDKFD TIFCGEBKI;I TGC DH GYB<TG .GHHBKD;G :fispXfigg> TICI HI BVHD<BI ;D #IKFI 'KIS ̂ RD TDCUBFDK RK KkUDCG DHDWI;G ;D CDTCD<DKFIEBGKD<;D HG EGFB;BIKGS ;D TDC<GKIZD< ̂ RD D<YGbIK HI ZDCIC^RMI <GEBIH EGK <R TCD<DKEBI Q ERIHB;I;=*<I <GEBD;I; EGK <R< CI<VG< CDTCD<DKFIFBWG< WRDHWD I D<FIC TCD<DKFD DK DTB<G;BG< TRKFRIXHD<S DK UGUDKFG< ;D NB<RCI< aB<FLCBEI<S EGUG DH FDCCDUGFG ;D 0RbEG ;D fiA@ ̂ RD ;I HRVICI RKI TCGED<BLK ERQI THI<UIEBLK ^RD;I CDNCDK;I;I DK DH ERI;CG EGK HI TCGED<BLK ;DH0CB<FG ;D HG< .BHIVCG< :IaGCI ;D HG< $DUYHGCD<> ;D HI 0IFD;CIH= 'HHM HI FCIVD;BI EGKWBDCFD IHI EITBFIH BKEIBEI DK HI TCBKEBTIH TCGFIVGKB<FI ;DH ERI;CGS CDHDVIK;G HI TCGED<BLK I RK<DVRK;G THIKGl TDCGS DK ;DNBKBFBWIS EGKNBVRCIK;G I 0RbEG EGUG HI EBR;I; ;D )BG< ^RDIEIYIC\ <BDK;G CDTCD<DKFI;I D BKEHRB;I DK RKI EITBHHI ;D HI EIFD;CIHS I UG;G ;D DcWGFG TGCDH UBHIVCG <RED;B;G Q HI TCGFDEEBLK <DVRCI ;D NRFRCG NCDKFD I HG< <B<UG<S EGKWBCFBDK;G IH0CB<FG ;D HG< $DUYHGCD< :$IBFIEaI $DUYHGCD<> DK DH EDKFCG ;D HI CDHBVBG<B;I; ERb^RDdI=

+86# 0'&O'e'+= r+$".' 0*,' :fs@s>= 0%,O*,$% )* #',$' $*&*#'S'1'080!%S 3*&r=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fs

',J,".%= O"&7*, )* 0%0!'&0'# :fsis>= .8#*% 3*)&% )* %#.'S +".'=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fj

3DCGS I;DU\<S 3DCk D< RK HRVIC B;DKFBNBEIYHD EGK DH 3ICIM<GS U\< EGKECDFIUDKFD HIbGKI GCBDKFIH EGCCD<TGK;BDKFD I HI <DHWIS ;GK;D KIED DH <GHS Q ^RD <D B;DKFBNBEI EGK DH'KFB<RQG :RKI ;D HI< ERIFCG TICFD< DK ^RD <D ;BWB;MI DH $ItIKFBK<RQG BKEIBEG>= *<FIEGKECDEBLK ;DH *;_K NBVRCI DK HI HBFDCIFRCI ;DH ^RBKBDKFG< DRCGTDG CDNBCB_K;G<D IHEGKFBKDKFD IUDCBEIKGS TDCG DK FDcFG< TCDEB<G< EGUG DH ;D +DLK 3BKDHG :*H 3ICIM<G DK DH ,RDWG .RK;G >S D<ECBFG I UD;BI;G< ;DH <BVHG `O""S <D EGKECDFI DK DH WBCCDBKIFG ;D,RDWI 0I<FBHHI= +I B;DI ;D RK D<TIEBG NHGCB;GS ;D ZIC;MK THIEDKFDCG EGK IKBUIHD<TIEMNBEG< ;GUBKIK;G DH EGKZRKFG ;D WICBIYHD< TG<BYBHB;I;D< ECGU\FBEI< <D EGKWBDCFDDK CDIHB;I; EGKECDFI DK HI TBKFRCI ERb^RDdI= *H EGHGCS HI KIFRCIHDbI IYBVICCI;IS HI<;RHED< NBVRCI< Q HI KG <RED<BLK ;D D<TIEBG< Q FBDUTG< <GK HI YI<D ;D D<FI D<ERDHI= )DD<FI NGCUI <B HI< EGUTG<BEBGKD< D BEGKGVCINMI< ;DYDK UREaG I HG< VCIYI;G< D BUTGCXFIEBGKD< ;DH WBDZG URK;Gl DK EIUYBGS I FCIW_< ;D HI NHGCI Q ;D HI NIRKI EGUBDKbIK IBKFCG;REBC<D HG< BKVCD;BDKFD< ;D HG IRFLEFGKG Q I HI WDb HDZIKG IH KG CDNDCBC<D I HIKIFRCIHDbI BKUD;BIFI ;D HI< IHFBTHIKBEBD< Q HI TRKIS <BKG I HG< TIB<IZD< E\HB;G< ;D HIEDZI IUIbLKBEI ;D ;GK;D TCGWBDKDK TCG;REFG< DcLFBEG< FIKFG TICI HG< D<TIdGHD<CDEB_K HHDVI;G< EGUG TICI DH KkEHDG <GEBIH BKEI=

OBIZD ;D B;I Q WRDHFI= +G< DKWMG< ;D<;D 'U_CBEI KG <GK <LHG YICCI< ;D THIFI Q GCG=' WDED<S BKNHRZG< ERHFRCIHD< ;D HI KRDWI CDHBVBG<B;I; EGK BEGKGVCINMI< TCGTBI< :#IKFI&GS NGCUIK;G TICFD ;D ;GKIEBGKD< G ;D YBDKD< ;D NIUBHBI< ^RD

CDVCD<ICGKl G ICFB<FI<S FIUYB_K ;D WRDHFIS EGUG 'KVDHBKG .D;GCG ^RD CDFGCKI I #DWBXHHI DK fi?@=

2&',0"#0% 0!"!8',$"$%= O"&7*, )* .%,$#*&&'$ :figp>="7+*#"' )* 0!",0!*&%S 3*&r=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fg

!DUG< RFBHBbI;G DH DZDUTHG TDCRIKG TDCG UREaI< ;D D<I< CDNHDcBGKD< TG;DUG<ITHBEICHI< IH WBCCDBKIFG ;D HI ,RDWI *<TIdI= 'HHM <D ECDI RKI ;D HI< BEGKGVCINMI< ;D U\<_cBFG Q DcTGCFI;I I FG;G DH EGKFBKDKFDS KG< CDNDCBUGS CDNDCDKEBI< IH <IKFRICBG G HI< ERIFCGD<EDKI< ;D HI< ITICBEBGKD< IH BK;BG eRIK )BDVG= ' NBKD< ;DH <BVHG `O"" <D BKEGCTGCICMIHI HDQDK;I [,GK NDEBF FIHBFDC GUKB KIFBGKB] :[,G aI aDEaG KI;I BVRIH EGK FG;I< HI<KIEBGKD<]>S EGK HI ^RD HG< UDcBEIKG< EGK<B;DCIK <R FBDCCI EGUG HI [DHDVB;I] Q <RTDXCBGCS BKEHR<GS I GFCI< ;GK;D <D aIYMIK TCG;REB;G ITICBEBGKD< ;D HI OBCVDK= +I BUIVDK<D EGKWBCFBL DK <MUYGHG ;DH ECBGHHB<UG DS BKEHR<GS <D IdI;BL I HI YIK;DCI UDcBEIKI ^RDHREaL TGC HI BK;DTDK;DKEBI ;D *<TIdI=

%FCG< FDUI< EGK ;D<ICCGHHG< D<TDEMNBEG< <DCMIK HG< CDNDCB;G< I HI< UGKZI< EGCGKI;I<SHG< ERIHD< CDTCD<DKFIK I HI< KGWBEBI< DH ;MI ;D <R FGUI ;D a\YBFG= ' UG;G ;D CDFCIFG<;D VCIK CB^RDbI ;DEGCIFBWI EGK EGCGKI< ;D NHGCD< ^RD DK DH EGKFDcFG TCGNIKG ;D HIEI<I <DdGCBIH GERTIK <R HRVIC EGUG CDEGC;IFGCBG ;D HI< YG;I< UM<FBEI< ;D HI aBZI=

3GC kHFBUGS <BVKBNBEIFBWI ;DH <BVHG `O""" WBCCDBKIHS <GYCD FG;G DK ._cBEGS D< HI;DKGUBKI;I TBKFRCI ;D EI<FI<= *< F_CUBKG <D RFBHBbL TICI DZDUTHBNBEIC HI< ;BNDCDKFD<UDbEHI< CIEBIHD< ^RD EGKNGCUIYIK HI TGYHIEBLK Q <R <BFRIEBLK <GEBGDEGKLUBEI= !IQ^RD I;WDCFBC ^RD HG< UIFCBUGKBG< DKFCD BK;BG<S D<TIdGHD< Q KDVCG< :FIUYB_K aIYCMI^RD RKBC DH EGUTGKDKFD GCBDKFIHS HG< EaBKG<> KG <D ;BDCGK aI<FI HI <DVRK;I UBFI; ;DH

',J,".%= $*&&*.%$% )* fiA@ *, 0890% 1 3&%0*#"J, )*+ 0&"#$% )* +%# $*.-+%&*# :fiA@Xfii@>= 0'$*)&'+ )* 0890%=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?@

<BVHG `O""S IRK^RD <M HI< CDHIEBGKD< <DcRIHD< ;D<;D RK TCBKEBTBG= +RDVGS D<FI< TBKFRCI<;D EI<FI< WDKMIK I GC;DKIC Q WB<RIHBbIC HI CDIHB;I; TGYHIEBGKIH ^RD FDKMI QI ;G< <BVHG<;D DcB<FDKEBI= ';DU\<S D<FG< ERI;CG< EGK<FBFRMIK <DCBD<S VDKDCIHUDKFD ;D fi GYCI<S^RD KG DCIK U\< ^RD DH UIKFDKBUBDKFG ;D HI< TBKFRCI< TCGVCIU\FBEI< ;D EIC\EFDCCDHBVBG<G G HG< <B<FDUI< ;D BU\VDKD< <DCBI;I< ;DH TDCBG;G ;D EIFD^RBbIEBLK= 0I;IERI;CG RFBHBbI ;G< NBVRCI< :UI<ERHBKI Q NDUDKBKI> U\< RK aBZG NCRFG ;D HI RKBLK ;DIUYI<= #D BKFDVCIK DK RK D<TIEBG ;GU_<FBEG G TCG;REFBWG Q EGK RKI< WD<FBUDKFI<^RD KG< aIYHIK ;D <R <BFRIEBLK DEGKLUBEI= 8K FDcFG DcTHBEI DH EGKFDKB;G5 [)D D<TIX

dGH Q ;D BK;BIS TCG;RED UD<FBbI] G [)D D<TIdGH Q URHIFIS UGCB<EG] <GK ;G< EI<G<=)IFG<S DK <R EGKZRKFGS ^RD URD<FCIK HI BUIVDK ;D HI <GEBD;I; WBCCDBKIH ^RDS I WDED<S<D EGUTHDFIK EGK NCRFI< G IC^RBFDEFRCI< IRFLEFGKI< ^RD KG< IUTHMIK HI BKNGCUIEBLK=

*<FD FDUI TBEFLCBEG ^RD KG< IEDCEIYI I HI TBKFRCI TCGNIKI Q EG<FRUYCB<FI NRDTCIEFBEI;G TGC HG< UDZGCD< TBKFGCD<= #D EGKGEDK <DCBD< IFCBYRB;I< I ICFB<FI< EGUG eRIK&G;CMVRDb eR\CDbS eG<_ ;D "YICCIS +RB< -DCCRDEGS eG<_ ;D 3\Db Q .BVRDH 0IYCDCI= *KERIKFG IH FDCCBFGCBG NRDCGK U\< NCDERDKFD< DK ,RDWI *<TIdI TDCG FIUYB_K ITICDEDKDK DH 3DCk EGUG HI UIVKMNBEI <DCBD ;D ?@ ERI;CG< ^RD DH OBCCDQ 'UIF DKWMI DK fss@TICI DH 7IYBKDFD ;D !B<FGCBI ,IFRCIH ;DH 3CMKEBTD ;D '<FRCBI< :DH NRFRCG 0ICHG< "O> Q^RD <D EGK<DCWI DK DH .R<DG ;D 'KFCGTGHGVMI ;D .I;CB;= *<FG< ERI;CG< FBDKDKS <BK

;R;IS RK BKFDC_< EBDKFMNBEG5 ;IC I EGKGEDC DK *<TIdI Q DK HI 0GCFD HI< TICFBERHICB;I;D<DFKGVC\NBEI< ;DH WBCCDBKIFG ;DH 3DCk= #B HG< CDFCIFG< ;D KGYHD<S FIKFG BKEI< EGUG ECBGX

e%#/ e84&*9= O"&7*, )* 78')'+83* :fiAi>=0%,O*,$% )* 0%,0*30"%,"#$'# )* '7&*)'S #%&"'=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?p

?=?= 'CFD 3HRUICBG

*H ICFD THRUICBG ;D<ICCGHHI;G DK ._cBEG <D EGKGED YBDK TGC HI< EBFI< ;D HG< ECGKB<XFI< :2CIQ -DCKIC;BKG ;D #IaIVkK G 2CIQ -ICFGHGU_ ;D HI< 0I<I<> ^RD KG< CDWDHIK HI<F_EKBEI< DS BKEHR<GS EBDCFI EHI<BNBEIEBLK= *cB<FMIK ;G< EDKFCG< TCG;REFGCD< TCBKEBTIHD<5DH YICCBG ;D 'UIKFHI DK HI EITBFIH Q .BEaGIE\K DK CDHIEBLK EGK HI *<ERDHI ;D 'CFD< Q%NBEBG< ;D $BCBTDFMG= )DH TCBUDC EDKFCG ;DCBWI DH KGUYCD ;D [IUIKFDEI<] RFBHBbI;G TICIHG< ICFD<IKG< ;D D<FD GNBEBG=

*<FI F_EKBEI TDCWBWBL I FG;G HG HICVG ;D HG< <BVHG< WBCCDBKIHD< Q <RTR<G HI ECDIEBLK;D GYCI<S UREaI< ;D EIC\EFDC CDHBVBG<GS ^RD NRDCGKS BKEHR<GS DcTGCFI;I< I HI 3DKMK<RHI"Y_CBEI Q EGK<DCWI;I< DK <R< HRVICD< ;D ;D<FBKG EGUG GYCI< UID<FCI<= )DYDUG< EBFICSDK D<FD <DKFB;GS DH VCRTG ;D <BDFD UBFCI< ^RD <D EGK<DCWIK DK HI IEFRIHB;I;S DKFCD HI<^RD <GYCD<IHD HI DcB<FDKFD DK HI 0IFD;CIH ;D $GHD;GS G HG< KRUDCG<G< ERI;CG< ;DEIC\EFDC CDHBVBG<G ^RD DKEGKFCIUG< DK UR<DG< IUDCBEIKG< Q DRCGTDG<S ;D<FIEIK;G HIEGHDEEBLK ;DH .R<DG ;D 'U_CBEI ;D .I;CB;=

0GUG QI aDUG< <DdIHI;G EIUYBICGK HI< FDU\FBEI< Q HG< GYZDFG<= )D HI WD<FBUDKFICBFRIH TCDaB<T\KBEI :UIKFG<S ZRYGKD<S TDKIEaG<S IYIKBEG< Q D<ER;G<> <D TI<L I <GHRXEBGKD< ;D EIC\EFDC ECB<FBIKG TICI GCKIUDKFG< <IVCI;G<= $_EKBEIUDKFD <D TCGED;MI I HI<DHDEEBLK ;D THRUI< ;D HI< IWD< U\< WICBI;I< TG<BYHD<S IFDK;BDK;G I FIUIdG< Q EGHGXCD<= .\< FIC;D <GYCD RK <GTGCFD WICBI;G BYIK <RTDCTGKB_K;G<D UD;BIKFD KR;G<S IUIXCCD< G TDVIUDKFG<=

&*+"*O*# )* 8,' 0'3"++' 3%#' )* !8*e%$9",7% :./`"0%>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?h

?=p= *<ERHFRCI ;D TI<FI ;D UIMb

,G FDKDUG< KGFBEBI< IEFRIHUDKFD <GYCD HI RFBHBbIEBLK ;D D<FI< F_EKBEI< DK HI TCGX;REEBLK ICFM<FBEI TCDaB<T\KBEI IRK^RD FDKBDK;G DK ERDKFI <R VDKDCIHBbIEBLK TGC FG;GDH EGKFBKDKFD I<M ;DYBL <DC= "KEHR<G HG< EDKFCG< TCG;REFGCD< ^RD aGQ TG;DUG< EIFIHGX

)"*7% )* '+O'&')% !8',"$9",= ."#' )* #', 7&*7%&"% :fApg>=.8#/* )*# e'0%-",#S '80!S 2&',0"'=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?A

',J,".% .*`"0',%= *00* !%.% *, 3'#$' )* 0'P' )* .'69 :#"7+% `O">=.%,'#$*&"% )* +'# )*#0'+9'# &*'+*# )* .')&")=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?s

3",$8&' .8&'+ *, +' "7+*#"' )* !8'&% :3*&r>=

G ;D UG;DHG< <BUYLHBEG< ;D HI< ERHFRCI< IRFLEFGKI<= *<FG< TCGQDEFG< IYICEICGK HG<D<TIEBG< CDHBVBG<G< :BVHD<BI<S EHIR<FCG<S EDH;I<> Q FIUYB_K D;BNBEBG< EBWBHD< :0I

?=A= +G< TBKFGCD< ;D EL;BED<5 HG< $HIERBHG<

qRBb\< HI TC\EFBEI ICFM<FBEI TCDaB<T\KBEI ̂ RD UIKFRWG ;RCIKFD DH <BVHG ̀ O" RKI UIQGCEGKFBKRB;I; EGK <R TI<I;GS DK DH EI<G KGWGaB<TIKGS NRD HI ;D I^RDHHG< TBKFGCD<S ;DKGUBXKI;G< [FHIERBHG<]S ;D;BEI;G< I HI CDIHBbIEBLK ;D 0L;BED<= *<FG< NRDCGK RFBHBbI;G< TGC HIKRDWI I;UBKB<FCIEBLK EGHGKBIH TICI DH EGKGEBUBDKFG ;D HI VDGVCINMI IUDCBEIKIS aB<FGCBISI<TDEFG< <GEBIHD< Q ERHFRCIHD< ;D HG< WDKEB;G<= #R IEFBWB;I; NRD IKBUI;IS BKEHR<GS TGC HI<IRFGCB;I;D< D<TIdGHI<S UIKFDKBDK;G <R< F_EKBEI< <GYCD TITDH ;D IUIFD G TBDHD< ;D IKBUIXHD< YBDK ERCFB;I< Q THDVI;I< DK NGCUI ;D YBGUYGS UG<FCIK;G I<TDEFG< ;D BKFDC_< TICI HG<EGK^RB<FI;GCD< Q HI kHFBUI BUIVDK ;D <R EGKEDTFG EG<UGVLKBEGS ;D RKI WB<BLK ;D HICDIHB;I; ̂ RD <D TDC;MI I TI<G< IVBVIKFI;G<= "KEHR<G I KBWDH F_EKBEG EGUDKbICGK I RFBHBbICX<D GFCG< <GTGCFD< EGUG DH TITDH DRCGTDG G IUDCBEIKG Q HI FDHI ;D IHVG;LKS HG ̂ RD HHDWLS DKD<FD kHFBUG EI<GS I HI ;DKGUBKIEBLK ;D [HBDKbG<]=

*K HI IEFRIHB;I; <D EGK<DCWIK ITCGcBUI;IUDKFD RKG< A@@ EL;BED< UDcBEIKG<CDTICFB;G< TGC ;B<FBKFG< TIM<D<S ER<FG;BI;G< TGC BK<FBFREBGKD< TkYHBEI< G TCBWI;I<=3G<BYHDUDKFD DH VCRTG U\< BUTGCFIKFD D< DH EGK<BVKI;G DK HI -BYHBGFDEI ,IEBGKIH ;D'KFCGTGHGVMI D !B<FGCBI ;D ._cBEG ^RD I<EBDK;D I fh@=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?j

0J)"0* 2+%&*,$",% = 347",' 0%&&*#3%,)"*,$* ' +%# '.',$*0'#=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?g

*KFCD HG< ;GERUDKFG< EGK<DCWI;G< FDKDUG< <BDUTCD ^RD ;D<FIEIC DH 0L;BED .DKX ;GbI S CDIHBbI;G I BK<FIKEBI< ;DH WBCCDQ )GK 'KFGKBG ;D .DK;GbI TICI <DC DKWBI;G I0ICHG< OS EGUTRD<FG DK s? aGZI< ;D TITDH DRCGTDG Q ;DTG<BFI;G DK HI 8KBWDC<B;I;;D %cNGC;= )BWB;D <R BKNGCUIEBLK DK FCD< ITICFI;G<5 HI aB<FGCBI ;D HI< EGK^RB<FI<IbFDEI<S RK CDVB<FCG ;D FCBYRFG< D BKNGCUIEBLK CDHIFBWI I HI WB;I ;D HG< BK;BG<= #DdIHDXUG<S FIUYB_KS DH HBDKbG ;D $HIcEIHIS ;D<ITICDEB;G Q <LHG CDNDCDKEBI;G I FCIW_< ;DEGTBI< ;DH <BVHG `O"""= *H GYZDFBWG ;DH UB<UG DCI <GHBEBFIC I HI EGCGKI D<TIdGHI RKI<DCBD ;D WDKFIZI< IFDKFI< I HI IQR;I TCD<FI;I I 0GCF_< TGC HG< FHIcEIHFDEI< DK HIEGK^RB<FI ;DH BUTDCBG IbFDEI= )D<FIEICS TGC kHFBUGS DH 0L;BED 2HGCDKFBKG S ^RD BKEHRQDHI< TBKFRCI< EGCCD<TGK;BDKFD< IH FDcFG K\aRIFH ;D HG< BK;BG< ;D $HIFDHGHEG ^RD BKNGCXUICGK I 2CIQ -DCKIC;BKG ;D #IaIVkK TICI <R CDHIEBLK ;D HI EGK^RB<FI= *K D<FI GYCI<D CDEGVDK BU\VDKD< ;D HG< GNBEBG< ^RD <D TCIEFBEIYIK DK I^RDH UGUDKFG CDNHDZIK;GEGUG HG< KIFRCIHD< WIK I<RUBDK;G NGCUI< DRCGTDI< EGUG TRD;I <DC HI EGHRUKISGYCI< ;D THIFI ;D;BEI;I< IH ERHFG CDHBVBG<G EGUG DH YGFINRUDBCGS EGK<FCREEBGKD< ;DICEG< ;D UD;BGTRKFGS DFE=

%FCG< ;GERUDKFG< CDIHBbI;G< TGC FHIERBHG< EGK<DCWI;G< IEFRIHUDKFD <D CDNBDCDK II^RDHHG< ^RD IEGUTIdICGK HI< ;DKGUBKI;I< &DHIEBGKD< 7DGVC\NBEI< ;D 2DHBTD "" GYBDK GFCG< <RDHFG< ^RD <D I;ZRKFICGK I THDBFG<S <GYCD FG;G ;D FBDCCI<S Q ^RD NRDCGKRFBHBbI;G< EGUG ;GERUDKFG< DcTHBEIFBWG< ;D HG< HBFBVIKFD<=

?=i= +G< DKEGKEaI;G<

+I ;DKGUBKIEBLK ;D HI F_EKBEI ;D D<FG< ERI;CG< KG< <BCWD TICI <R EHI<BNBEIEBLK QHI UB<UI ;DCBWI ;D HI BKFCG;REEBLK ;D NCIVUDKFG< ;D EGKEaI ;D K\EIC DK <R D<FCREFRXCIEBLK NGCUIH TICI ;DNBKBC CGTIZD<S IC^RBFDEFRCI<S TIB<IZD< Q ;DFIHHD< GCKIUDKFIHD<= +IYI<D ;D HI GYCI D< KGCUIHUDKFD HI UI;DCI ^RD <RDHD D<FIC NGCCI;I ;D FDHI= )D<TR_< <DEGHGEI RKI EITI ;D QD<G <GYCD HI ^RD <D ;BYRZIK HG< EGKFGCKG< ;D HI< NBVRCI< Q <DTCGED;D I HI EGHGEIEBLK ;D EGKEaI< Q LHDG TICI HG< HRVICD< U\< ;DHBEI;G< :EIYDbI< QUIKG<>=

*H GCBVDK D<F\ DK %CBDKFD Q ;DYBL <DC DH 7IHDLK ;D .IKBHI EGK HI BUTGCFIEBLK;D GYCI< ;D<;D 2BHBTBKI< ^RB_K BKFCG;RZDCI HG< TCBUDCG< UG;DHG< HRDVG I;ITFI;G<DK HI ,RDWI *<TIdI= #R TDCBG;G ;D UIQGC TCG;REEBLK Q EIHB;I; EGCCD<TGK;D I HI<DVRK;I UBFI; ;DH <BVHG `O"" ;GK;D ;D<FIEIK .BVRDH Q eRIK 7GKb\HDbS I HG< ^RDaIYCMI ^RD IdI;BC GFCG< TBKFGCD< EGKGEB;G< EGUG 'KFGKBG ;D #IKFIK;DC Q ,BEGH\<0GCCDI=

*K ERIKFG IH CDTDCFGCBG FDU\FBEG aDUG< ;D ;D<FIEIC <BDUTCD HI< <DCBD< CDHIEBGKI;I<EGK HI aB<FGCBI ;D HI EGK^RB<FI ;D ._cBEGS IRK^RD FIUYB_K <D CD<GHWBDCGK BEGKGVCIXNMI< ;D EIC\EFDC CDHBVBG<G= 0GUTG<BFBWIUDKFD FBDKDK CDHIEBLK EGK VCIYI;G<S IRK^RD KGaIQ ^RD GHWB;ICS TGC DH EIC\EFDC ;DEGCIFBWG ;D HI< EDKDNI< ^RD HG< DKUICEIKS HI TG<BXYHD BKNHRDKEBI ;D FITBED< DRCGTDG<=

+G< D<FR;BG<G< ;DH FDUI aIK HHIUI;G HI IFDKEBLK <GYCD HI CDBFDCIEBLK ;DH EBEHGEGCFD<BIKG Q HI CDTDFBEBLK ;D HG< UG;DHG< NGCUIHD<S HG ^RD GYHBVI I TDK<IC DK HI;DUIK;I TGC TICFD ;D D<TIdGHD< Q ECBGHHG< ;D D<FI FBTGHGVMI ICFM<FBEI ^RD WDK;CMI I<RTHBC HI NIHFI ;D TBKFRCI ;D aB<FGCBI DcB<FDKFD DK <R \UYBFG ERHFRCIH=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p@

?=s= +G< YBGUYG<

*H YBGUYG D< RK DHDUDKFG ICFM<FBEG TCGWDKBDKFD ;DH eITLK ERQG KGUYCD GCBVBKICBG[YQGXYR] KG< CDUBFD I <R NRKEBLK :YQG5 TCGFDEEBLKS YR5 WBDKFG>= *H <B<FDUI ;D TIKDHD<THDVIYHD< TDCUBFMI ;D<ICCGHHIC D<EDKI< BK;DTDK;BDKFD< G CDHIEBGKI;I< EGK UkHFBTHD<NBVRCI< Q RFBHBbIK;G DH TIB<IZD EGUG DHDUDKFG RKBNBEI;GC=

+G< TCBUDCG< YBGUYG< HHDVICGK I ,RDWI *<TIdI DK fifh EGK DH DUYIZI;GC ;DeITLKS &GnRDUGK !I<DnRCIS ^RD GNCDEBL IH WBCCDQ UIC^R_< ;D 7RI;IHE\bIC= 3G<FDCBGCXUDKFD !I<DnRCI WBIZICMI I &GUI GNCDEBDK;G IH TITI 7CDVGCBG `O EBKEG TICD< ;DYBGUYG< EIHI;G< Q ;GCI;G<= +G< YBGUYG< ^RD KG <D EGK<DCWIK <D EGKGEDK TGC RKG<;BYRZG<= *<FG< TCBUDCG< YBGUYG< CDTCD<DKFIYIK HI NGCFIHDbI ;D 'bREaB Q FDK;CMIK<DUDZIKbI EGK DH CDVIHI;G IH OBCCDQ=

0GUG GYZDFG GCKIUDKFIHS HG< YBGUYG< DCIK DH EGUTHDUDKFG TDCNDEFG DK DH <IHLK;DH D<FCI;G5 FICBUI DHDWI;I <GYCD HI ERIHS I UIKDCI ;D D<EDKICBGS <D ;D<ICCGHHIYI HIWB;I <GEBIH= $GUICGK DH KGUYCD ;D YBGUYG< ;D [CG;I<FCI;G] I UIKDCI ;D HG< VRI;IXUDEMD< G EGC;GYIKD< ^RD ;D<DUTDdIYIK XHI UB<UI NRKEBLK ;D [CG;DIC DH D<FCI;G]=#RTHMIK I HG< FITBED< G TIdG< ^RD <B YBDK HG< aRYG DK HI ,RDWI *<TIdIS KG <GHG TICI;DEGCIC TICD;D< <BKG TICI ERYCBC TRDCFI<S <R KkUDCG KG NRD DcED<BWGS TG<BYHDUDKFDTGC HI ;BNBERHFI; ;D DKEICVICHG< I -CR<DHI<S Q DH DHDWI;G EG<FG ;D HG< UB<UG<= ';DU\<S<R EIC\EFDC ULWBH D BK;DTDK;BDKFD TDCUBFMI HI ;RTHBEB;I; ;D FDUI< DK IUYG< HI;G< ;DHI< aGZI<S ;D IaM ^RD VDKDCIHUDKFD <D B;DKFBNB^RDK EGK ;G< KGUYCD<=

+I <BURHIEBLK ^RD <D aIEMI ;D RK FITBb DK ;BEaG< CG;I<FCI;G< <D IEDKFRICMI EGK HIBKEGCTGCIEBLK ;D EDKDNI< ;D NHGCD< Q NCRFI< ^RD HG< DKUICEIYIK G HI CDTCD<DKFIEBLK;D VIHDCMI< ;D ICEG< ^RD <DCWMIK TICI D<FCREFRCIC HG< FDUI<=

%FCG FBTG ;D YBGUYG< ^RD <D BUTGKDK DK DH <BVHG `O""" <GK HG< ;DKGUBKI;G< [;DEIUI] ^RD DCIK U\< IHFG< Q TCGFDVMIK HI BKFBUB;I; ;DKFCG ;DH ;GCUBFGCBG= +I DUYHDU\XFBEIS HI UBFGHGVMI Q HG< FDUI< ;D EIC\EFDC UGCIH <DCMIK NCDERDKFD< DK D<FD FBTG=

0GUG DK DH CD<FG ;D HI TH\<FBEI IUDCBEIKI UREaG< ;D HG< YBGUYG< EGK<DCWI;G<<GK IKLKBUG< EGUG TGC DZDUTHG DH ;DKGUBKI;G OB<FI ;D HI EBR;I; ;D ._cBEG Q 0GK^RB<FI ;D ._cBEG :.R<DG 2CIKb .IQDCS ._cBEG>= ,G GY<FIKFDS EGKGEDUG< IHVRXKG< IRFGCD< ;D YBGUYG< ^RD <GK HG< UB<UG< VCIK;D< TBKFGCD< ;DH UGUDKFGS HG ^RDKG< BK;BEI HI BUTGCFIKEBI <GEBIH ;D D<FD URDYHD= )D<FIEIC DKFCD DHHG< HG< ;DKGUBKI;G<*KERDKFCG ;D 0GCF_< Q .GEFDbRUI G +G< 0RIFCG 0GKFBKDKFD< :0GHDEEBLK -IKIUDc>Q +G< ERIFCG DHDUDKFG< G HI< 'CFD< +BYDCIHD< :.R<DG 2CIKb .IQDCS ._cBEG> CDIHBbIX;G< TGC DH TBKFGC eRIK 0GCCDI=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pf

e8', 0%&&*' :'$&"-=>= -"%.-% )* +%# 08'$&% 0%,$",*,$*# :2",'+*# )*+ #"7+% `O"">=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pp

'aGCI YBDKS HI CRTFRCI DKFCD HG< ;G< D<TIEBG< IHR;B;G< :9LEIHG Q 'HIUD;I> TDCXUBFDK <RTGKDC HI T_C;B;I ;D IHVRKI< aGZI< GS BKEHR<GS ^RD <D FCIFICI ;D ;G< YBGUYG<^RD NGCUICMIK RK ZRDVGS QI ^RD HI EDKDNI TDCBUDFCIH RKBNBEI HG< ;G< CDNDCDKFD< RCYIXKG<=

."78*+ 1 e8', 7%,94+*9= O"#"$' )* 0%&$/# ' .%0$*98.' :figj>=

.8#*% )* './&"0'S .')&")=

*<FI <DCBD EGK<FI ;D ?h ERI;CG< NBCUI;G< DK HI FIYHI f? EGK DH KGUYCD ;D .BVRDH7GKb\HDb Q HI NDEaI ;D figj= *K HI kHFBUI FIYHI ITICDED HI NBCUI ;D eRIK 7GKb\HDb QHI UB<UI NDEaI IKFDCBGC=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ph

*K HG< ;B<FBKFG< ERI;CG< <D <RED;DK HG< aDEaG< NRK;IUDKFIHD< ;D HI DTGTDQIEGCFD<BIKI ^RDS DK GEI<BGKD<S CDHIFI WICBI< D<EDKI< ;DKFCG ;DH UB<UG D<TIEBG= +G<FDcFG< DcTHBEIFBWG< Q HI KRUDCIEBLK <BCWDK TICI HGEIHBbIC HI FDU\FBEI=

+I F_EKBEI ;D HG< DKEGKEaI;G< TICDED YI<IC<D DK DH DUTHDG ;D CDEGCFD< ;D K\EIC;DH UGYBHBICBG BUTGCFI;G ;D GCBDKFD= #D EICIEFDCBbIS I;DU\<S TGC HI TCD<DKEBI ;D FDU\XFBEI< aB<FLCBEI< EI<B IR<DKFD< DK HI TBKFRCI ;D EIYIHHDFD= ';DU\<S Q UI< EGKECDFIUDKFDDK D<FI <DCBD EGCFD<BIKIS HG< TIB<IZD< Q HI< IC^RBFDEFRCI< <RTGKDK IHFDCKIFBWI= "7+*#"' )* +'0%.3'P6' )* e*#r#S 0890%

+I B;DI ;D HI EGNCI;MI EGUG aDCUIK;I; DKHIbI EGK DH THIKFDIUBDKFG NIUBHBIC ^RD<RVBDCD DH <B<FDUI ;D HIbG< ;D HI EGURKB;I; ECB<FBIKI= *<I kKBEI NIUBHBI EGK TICDKFD<XEG< ;BCDEFG< DK CDHIEBLK EGK HI< ;DWGEBGKD< TICFBERHICD< I;^RBDCD CDNBKIUBDKFG< B;DGXHLVBEG< I FCIW_< ;D IHVRKI aB<FGCBI EGKECDFI EGUG DH DKHIED DKFCD HG< ZD<RBFI< Q HINIUBHBI CDIH BKEIBEI= )D D<FI NGCUI DH UIFCBUGKBG DKFCD )GK .ICFMK 7ICEMI ;D +GQGHI:_<FD KG DCI aBZGS EGUG ;BED DH FDcFG ;DH ERI;CGS ;D -DHFC\KS aDCUIKG ;D #IK "VKIEBGS<BKG KBDFG ;DH aDCUIKG UIQGC ;GK .ICFMK 7ICEMI ;D %dIb Q +GQGHI> Q )GdI -DIFCBb0HICI 0GQI :dR<FI aDCD;DCI HDVMFBUI ;DH "KEI> <D D<EDKBNBEI DK DH IEFRIH <GFGEGCG ;D HIBVHD<BI ;D HI 0GUTIdMI ;D 0RbEGS CDTICFB_K;G<D KRUDCG<I< EGTBI< TGC HG< EGHDVBG< DBK<FBFREBGKD< ZD<RMFBEI< ;DH 3DCk= *K DH ERI;CG UIFCBb DcB<FDK ;G< YG;I<S HI CDNDCB;I QRKI <DVRK;IS EGK BUTCDEB<BGKD< aB<FLCBEI< TG<BYHDUDKFD ;DYB;G I CDTBKFD< EGKFBKRIX;G<S DKFCD )GdI 'KI .ICMI +GCDKbI :<RTRD<FI aBZI ;DH UIFCBUGKBG IKFDCBGCS ERQGKGUYCD DcIEFG DCI 'KI .ICMI 0HICI 0GQI ;D +GQGHI Q KG +GCDKbI> Q )GK eRIK

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pA

*KCM^RDb ;D -GCZI Q 'HUIK= *H ;GK eRIK ;D -GCZI ^RD UDKEBGKI DHFDcFGS DUYIZI;GC ;D 2DHBTD ""S EI<L EGK ;GdI +GCDKbI ;D %dIb Q +GQGHIS <BDK;G EGKD<FD UIFCBUGKBG EGK DH ^RD <D RKBDCGK TGC TCBUDCI WDbS DK fAA? S HI< EI<I< ;D +GQGHIQ -GCZIS <DFDKFI IdG< UI< FIC;DS DK fi??S <D TCG;RED HI RKBLK ;D eRIK !DKCM^RDb ;D-GCZI Q 'KI .ICMI 0HICI 0GQI=

+G< TICDKFD<EG< DWB;DKEBIK <R EGKFDKB;G <BUYLHBEG Q GYHBVIK I HI TCD<DKEBI EDKXFCIH ;D HG< ;G< <IKFG< ZD<RBFI< ^RD ITI;CBKIK Q CDNCDK;IK HI< RKBGKD< UIFCBUGKBIHD<=+G< DCCGCD< VDKDIHLVBEG< <DdIHI;G< KG BUTB;DKS KG GY<FIKFDS HI WIHGCIEBLK B;DGHLVBEI;D HI TBKFRCI Q DH TG<BEBGKIUBDKFG ;D HI 0GUTIdMI ;D eD<k<=

',J,".% :3*&r>= ,"P% e*#r# 0%, O*#$".*,$' ".3*&"'+ ",0' :#"7+%`O""">= 0%+*00"J, 3'&$"08+'&S +".'

*KFCD HI< IEFBWB;I;D< CDHBVBG<I< ^RD <D NGUDKFICGK DK HG< TCGED<G< ;D IERHFRCIXEBLK D<FRWBDCGK HI EGK<FBFREBLK ;D EGNCI;MI<= *KFCD DHHI< <GYCD<IHDK I^RDHHI< ^RD FRXWBDCGK EGUG EDKFCG IH ,BdG eD<k<S <BDK;G NCDERDKFD< DK DH 0RbEG HI< ^RD WD<FMIK HIBUIVDK ;DH ,BdG EGK HI< CGTI< ;D HI CDIHDbI BKEI=

*<FI TBKFRCI URD<FCI I RKI ;D D<I< BU\VDKD< ;D WD<FBC= 3GC <R< EICIEFDCM<FBEI<BEGKGVC\NBEI< CDTCD<DKFI IH ,BdG EGUG #IHWI;GC ;DH .RK;G= +I UIKG ;DCDEaI YDK;BXEBDK;G IH VHGYG FDCC\^RDG ^RD <G<FBDKD EGK HI Bb^RBDC;I= 3GC HG ;DU\<S DH CD<FG ;D HIWD<FBUDKFI ^RD;I CDNDCB;G I FDU\FBEI< IK;BKI< Q TCDaB<T\KBEI<S EGCGK\K;G<D EGK RKFGEI;G ;GK;D <GYCD<IHD RK FGCCDLKS BUIVDK <BUYLHBEI ;D #IE<IaRIUIK= +I NGCFIHDbI;DH 0RbEG <D EGKWBCFBL DK DH UGFBWG EDKFCIH ;DH D<ER;G ;D ICUI< EGKED;B;G I HIEBR;I; TGC DH DUTDCI;GC 0ICHG< O= 0GUG EIHbI;G HHDWI RKI< <IK;IHBI< EGK HI EIYDbI;DH TRUI=

2RDCGK HG< eD<RBFI< HG< ^RD BKBEBICGK DK DH 0RbEG D<FI I;WGEIEBLK Q <R EGNCI;MIEGCCD<TGK;BDKFD ^RDS C\TB;IUDKFDS <D VDKDCIHBbL DK DH CD<FG ;DH FDCCBFGCBG= 3GC DH EGKXFCICBGS DH GYB<TG .IKRDH ;D .GHHBKD;G Q 4KVRHG TCGaBYBL DK fij? D<FD FBTG ;D <BVKG<BKEIBEG<S CDFBC\K;GHG ;D HG< IHFICD< ;GK;D HG< DKEGKFCL DK HI OB<BFI *EHD<B\<FBEI ^RDCDIHBbL I <R ;BLED<B< DKFCD fijs Q fijg=

+G ERCBG<GS DK TICIHDHGS D< ^RD KRKEI <D TCGaBYBL D BKEHR<G <D WIHGCL HI B;DKFBNBEIXEBLK ;DH CDQ ;D *<TIdI EGK DH ["KEI]= $IUTGEG aRYG TCGYHDUI< EGK HI CDTCD<DKFIXEBLK ;D HI OBCVDK .ICMI EGK <MUYGHG< TCDaB<T\KBEG< ^RDS BKEHR<GS <BCWDK TICI D<TDEBNBEIC;DWGEBGKD<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pi

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ps

+86# )* .*,' :./`"0%>= 3",$8&' )* 0'#$'# 1 O"&7*, )*78')'+83* :0=fsA@>= .8#*% )* './&"0'S .')&")

*<FI GYCI CDkKD DK GEaG ERI;CG< GFCI< FIKFI< EI<FI< TCGTBI< ;D HI ,RDWI *<TIdISHI< ERIHD< ITICDEDK TDCNDEFIUDKFD EICIEFDCBbI;I< DK <R \UYBFG <GEBGDEGKLUBEG EGKHI< WD<FBUDKFI< Q IHVRKI< IEFBWB;I;D< TCGTBI<= "KEHR<GS FDcFG< DK HI YI<D ;D EI;IVCRTG D<TDEBNBEIK HI EI<FI EGCCD<TGK;BDKFD= 3DCGS I;DU\<S D<FD ERI;CG TCD<DKFI RKIVCIK KIFRCIHDbI URDCFI DK HI TICFD BKNDCBGC EGK HI CDTCG;REEBLK ;D RK KkUDCG BUTGCXFIKFD ;D NCRFI< Q TCG;REFG< WDVDFIHD< KGWGaB<TIKG<S KRUDCI;G< Q DcTHBEI;G< ^RDKG< CDUBFDK I HI CB^RDbI ;D D<FI FBDCCI=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pj

+I BKNGCUIEBLK ;DH HBDKbG <D EGUTHDFI DK HI TICFD <RTDCBGC EGK ;G< D<EDKI< ^RDCDTCD<DKFIKS I HI ;DCDEaIS HI HIVRKI ;D ._cBEG QS I HI Bb^RBDC;IS DH <IKFRICBG ;D HIOBCVDK ;D 7RI;IHRTD ERQG CDFCIFG EDKFCI Q TCD<B;D HI EGUTG<BEBLK= ,G GHWB;DUG<^RD DK fshiS NDEaI EDCEIKI I HI CDIHBbIEBLK ;D D<FI TBKFRCIS HI OBCVDK ;D 7RI;IHRTDaIYMI <B;G KGUBKI;I EGUG 3IFCGKI TCBKEBTIH ;D HI ,RDWI *<TIdI= *< U\<S <D IdI;BLI <R< CDTCD<DKFIEBGKD< DH FDcFG ;DH <IHUG fhsS ?@ ^RD IHR;D I HI TICFBERHICB;I; ;D D<FIFBDCCI TICI HI OBCVDK5 [,GK NDEBF FIHBFDC GUKB KIFBGKB] :,G aI aDEaG I<M EGK KBKVRKI;D HI< KIEBGKD<>=

',J,".%S 06&08+% )* -'#"+"% #',$' 0&89 38.'0'++'% 1 )"*7%q8"#3* $"$% :3*&r>= &*7&*#% )* +' 3&%0*#"J, ' +' 0'$*)&'+ =#*&"* )* +' 3&%0*#"J, )*+ 0%&38# )* #',$' ',' :0=fij@>= .8#*%)*+ 3'+'0"% '&9%-"#3'+ )* 0890%

*<FD ERI;CG NGCUI TICFD ;D HI ;DKGUBKI;I #DCBD ;DH 0GCTR< ;D #IKFI 'KIS TICCGX^RBI ;GK;D D<FRWBDCGK GCBVBKIHUDKFD RYBEI;G<= #D aIK IFCBYRB;G FCI;BEBGKIHUDKFD I)BDVG qRB<TD $BFGS IRK^RD KG aIQ ;GERUDKFG< TCGYIFGCBG<= )D aDEaGS HI D<F_FBEI ;DqRB<TD $BFG TRD<FI ;D UIKBNBD<FG DK HI <DCBD ;DH 9G;BIEG ^RD D<F\ NBCUI;I DK fijfS;BNBDCD EGK<B;DCIYHDUDKFD ;D HI <DCBD ;DH 0GCTR<= *< UI< TCGYIYHD ^RD DH IRFGC GIRFGCD< ;D D<FI <DCBD D<F_K DK DH VCRTG ;D TBKFGCD< ^RD FCIYIZIK TICI DH GYB<TG.GHHBKD;G :fispXfigg>S QI ^RD _<FD ITICDED CDTCD<DKFI;G DK HG< ERI;CG< ^RD BKBEBIKQ FDCUBKIK HI <DCBD= *H FCBRKNG ;DH ERHFG I HI *REICB<FMI FBDKD <R U\cBUI DcTCD<BLK DK HINBD<FI ;DH 0GCTR<= '<M ;DKFCG ;D HI< EIUTIdI< ;D DcFBCTIEBLK ;D HI B;GHIFCMI <D TCG;RX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pg

EDK EBDCFI< UG;IHB;I;D< ;D <BKECDFB<UG Q I<BUBHIEBLK= *H <GHS EGKWDCFB;G DK UDF\NGCIWB<RIH ;D 0CB<FGS CD;DNBKD HG< IKFBVRG< DUYHDUI< BKEIBEG< Q HG< B;DKFBNBEI EGK DH ;B<EG<GHIC ;D HI ER<FG;BI <IECIUDKFIH= '<M DKFDK;B;IS HI NBD<FI <BUYGHBbI DH FCBRKNG ;DH ECB<XFBIKB<UG <GYCD HI< ECDDKEBI< TCDaB<T\KBEI<S HI I<BUBHIEBLK ;D HG< [GFCG<] I RKI NDRKBWDC<IH=

*H ERI;CG ^RD I^RM EGUDKFIUG< D< DH k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kHFBUGS DK HI TICFD BKNDCBGC ;DCDEaIS HI NBVRCI;D RK BK;MVDKI EGK WD<FBUDKFI< D<TIdGHI< ^RD CDTCD<DKFI IH ;GKIKFD DK IEFBFR;GCIKFD=

',J,".%= O"&7*, )* 3%$%#6 :#"7+% `O"">= .8#*% 0'#' )* +'.%,*)'S 3%$%#6

[+I 3IEaIUIUIS ;BG<I ;D HI FBDCCI Q ;BWBKB;I; IKED<FCIHS D< B;DKFBNBEI;I EGK HIOBCVDK .ICMIS aDEaG DcTHBEI;G TGC DH IVR<FBKG 'HGK<G &IUG< 7IWBH\K ;D<;D RKTRKFG ;D WB<FI FDGHLVBEG= *K <R HBYCGS [!B<FGCBI ;DH #IKFRICBG ;D ,RD<FCI #DdGCI ;D0GTIEIYIKI]S TRYHBEI;G DK +BUI DK fi?fS INBCUI HG <BVRBDKFD5 [I<M EGUG DH <GH ;DCCIXUI <R< CIQG< DK HI $BDCCIS aIEB_K;GHI UI;CD ^RD YDKDNBEBD I HG< aGUYCD<S )BG< ;DTGX<BFI <R< CIQG< DK .ICMIS aIEB_K;GHI FIUYB_K UI;CD TICI YDKDNBEBIC IH aGUYCD]= *HUB<UG IRFGC IdI;D5 [.ICMI D< HI UGKFIdI ;D ;GK;D <IHD D<FI CGEI <BK TBD< KB UIKG<S^RD D< 0CB<FG]

x= 0CB<FG D< RKI CGEI [<IEI;I ;D HI UGKFIdI ;BWBKI ^RD D< .ICMI]= OICBG< DCR;BFG<BK<B<FDK DK B;DKFBNBEIC I HI 3IEaIUIUI EGK HI OBCVDKS I<TDEFG UIFDCBIHBbI;G DK RKITBKFRCI RYBEI;I DK DH .R<DG ;D HI .GKD;I DK 3GFG<M :-GHBWBI>S ;GK;D HI OBCVDK <DEGKNRK;D EGK RKI UGKFIdI= *K D<FI GYCIS HI UGKFIdI D<F\ CDTCD<DKFI;I EGK CG<FCGNDUDKBKG Q ;G< UIKG< EGK HI< TIHUI< IYBDCFI<= *< HI BUIVDK ;D .ICMI BKEGCTGCI;I IHI UGKFIdI Q EGCGKI;I TGC HI $CBKB;I;= ' <R< TBD< <D DKERDKFCIK DH 3ITIS RK EIC;DKIHQ RK GYB<TGS Q IH GFCG HI;G DH *UTDCI;GC 0ICHG< O Q RK EIEB^RD BK;MVDKI EGK HI ECRb;D 'HE\KFICI DK <R UIKG= *cB<FDK WICBG< <DK;DCG< DK HI UGKFIdIS I ERQI< NIH;I< <DDKERDKFCI DH "KEI .IBFI 0ITIE ^RDS <DVkK HI HDQDK;IS WB<BFI DH HRVIC= *H <GH Q HI HRKI<D DKERDKFCIK I IUYG< HI;G< ;D HI EGUTG<BEBLK=] :7"#-*&$S $DCD<I= [*H DHDUDKFGBK;MVDKI DK DH ICFD EGHGKBIH]= *K5 ''=OO= *H CDFGCKG ;D HG< \KVDHD<= -ICCGEG ;D HI< ERUYCD< DK -GHBWBI = $GRC<S 8KBLK +IFBKIS fggjS T= fgf>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hf

'3/,)"0* )%08.*,$'+

"= +' 3&%0*#"J, )* 0%&38# *, 0890%f

[8K IK\HB<B< ;D HI D<ERHFRCI WBCCDBKIH KG< URD<FCI ELUG DK HI Yk<^RD;I ;D RKICDTCD<DKFIEBLK HG U\< TCLcBUI TG<BYHD I HI CDIHB;I; DUTDbICGK I YGCCIC<D HG< HMUBFD<^RD <DTICIK HI< BU\VDKD< ;D HG< <DCD< WBWG<= +I <B^RB< ;D HI <GEBD;I; WBCCDBKIHS QID<EICYI;I IH U\cBUG DK <R Yk<^RD;I ;D )BG<S BUIVBKIYI HI TCD<DKEBI ;D _<FDS ;D HIOBCVDK Q ;D HG< <IKFG< DK HI WB;I EGFB;BIKIS FD<FBUGKBG ;D HG ERIH KG< ;DZIK HG<D<ECBFG< ;D HG< UM<FBEG< ;D HG< <BVHG< `O" IH `O"""= *H aGUYCD YICCGEG <D EGUTGCFIYIIKFD HI BUIVDK EGUG IKFD RK <DC WBWGS HD ;BCBVMI HI TIHIYCIS HD BKECDTIYI Q aIEMI HHDVICI DHHI <R< <kTHBEI<= 3ICI UIQGC WDCIEB;I;S HI< BU\VDKD< <D HD< EGHGEIYI GZG< ;D WB;CBGSEIYDHHG< KIFRCIHD< QS DK GEI<BGKD<S ;BDKFD< KIFRCIHD<l IHVRKI< BU\VDKD< DCIK ICFBERHIX;I< Q HI UIQGCMI ;D DHHI< TG<DD RK HRZG<G IZRIC ;DH ^RD ;B<NCRFIK DK HI< ;BNDCDKFD<GEI<BGKD<=

*<FD IHFDCKIC EGK HI< BU\VDKD< Q <R EITIEB;I; ;D [WBWBC] FIUYB_K <D aIED TIFDKFDDK IHVRKG< IEFG< TkYHBEG< EGUG GERCCDS IkK aGQS DK HI TCGED<BLK ;D 0GCTR< 0aCB<FBDK HI EBR;I; ;D 0RbEG= 2HGCD< %EaGI :<D CDNBDCD I HI GYCI *H 0RbEGS CD<B<FDKEBI Q EGKFBKRB;I; = 0RbEGS fgg@> D<FR;BI ;DFIHHI;IUDKFD D<FI ND<FBWB;I; ;D<;D <R< IKFDEDX;DKFD< BKEIBEG<S ERIK;G DH "KEI YIZIYI I HI THIbI ;D !RIQEITIFI TCDED;B;G TGC HI<UGUBI< ;D <R< IKFDTI<I;G<= *K D<FI <BKVRHIC TCGED<BLKS ^RD DcIHFI DH 0RDCTG *REIXCM<FBEG ;D 0CB<FGS TICFBEBTIK HG< <IKFG< TIFCGKG< ;D HI< ;BNDCDKFD< TICCG^RBI< ;D BK;BG<SQ ;I;I HI TCGcBUB;I; ;DH 0GCTR< EGK HI NBD<FI ;DH "KFB &IQUBS IHVkK IRFGC <RVBDCD ^RDHG< <IKFG< ;D EI;I TICCG^RBI <R<FBFRQDK I HI UGUBI ;DH "KEI CD<TDEFBWG=

0GK<B;DCIK;G DH ITGCFD BK;MVDKI I D<FI NBD<FIS aIQ ^RD ;D<FIEIC DH FCIFG EGK HG<ERDCTG< UGUBNBEI;G< IH ^RD D<FIYIK IEG<FRUYCI;G< HG< BK;MVDKI< TCDXEGK^RB<FIS EGBKXEB;DKFD EGK HI TCGcBUB;I; ;D HI URDCFDS TCGTBI ;DH YICCGEG D<TIdGH= .GUBI< Q D<FIXFRI< <D EGUYBKIK TICI ;IC EGKFBKRB;I; I RK DWDKFG FIK BUTGCFIKFD EGUG HI TCGED<BLK;D 0GCTR< 0aCB<FB=

+I RKBLK ;D HG< WBWG< Q HG D<FIFRICBG <D ;I DK HI TCGED<BLK ;D 0GCTR< Q I<M WDUG<HGCG< WBWG< DK DH \CYGH ;GK;D D<F\ <RZDFI HI BUIVDK ;D #IK #DYI<FB\Kl HI BUIVDK ;D#IK 0CB<FLYIH FBDKDS TICI U\< WDCB<UGS ;BDKFD< KIFRCIHD< ^RDS ;I;I HI UIVKBFR; ;DH<IKFGXVBVIKFDS <GK ;D TGHHBKG= +I OBCVDK ;D -DH_K HRED DKFCD <R< ZGQI< DH yFGTRz ;DGCG ^RD HD CDVIHL DH "KEI #IQCB $RTIE=

+I< BU\VDKD< YIZIK ;D HI< CD<TDEFBWI< TICCG^RBI< I IEGUTIdIC I HI OBCVDK ^RD HI<D<TDCI DK HI "VHD<BI ;D #IKFI 0HICIS ;D<;D ;GK;D FG;G< TICFBC\K I HI 0IFD;CIH TICI HITCGED<BLK= *<FI< BU\VDKD< <RDHDK EGUTGCFIC<D EGUG <DCD< WBWG<S HG< <IKFG< <D <IHRX;IK URFRIUDKFDS <D WB<BFIK Q IHVRKG< ;D DHHG<S EI<G ;D #IK #DYI<FB\K Q #IK eDCLKBUGS[EGUTBFDK] DK RKI ;D<EGURKIH EICCDCI HHDWI;G< TGC <R< CD<TDEFBWG< NBDHD<S ;D<TR_<;D HI ERIH DH WDKED;GC IEGUTIdIC\ I .ICMI DK HI TCGED<BLK=

f= .*#' 7"#-*&$S $DCD<I= *H 3ICIM<G ;D HG< 3\ZICG< TICHIKFD< = +I 3IbS 3HRCIH *;BEBGKD<SfgggS 3\V<= ?hgX?Af=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h?

?= &%)&678*9 7= )* 0*-'++%#S 'HNGK<G= [8<G< Q NRKEBGKD< ;D HI BUIVDK CDHBVBG<I DK

HG< WBCCDBKIFG< IUDCBEIKG<]= *K5 ''=OO= +G< <BVHG< ;D GCG DK HG< WBCCDBKIFG< ;D 'U_CBEIS fAA@X fs@@ = .I;CB;S #GEBD;I; *<FIFIH TICI HI EGKUDUGCIEBLK ;D HG< EDKFDKICBG< ;D 2DHBTD "" Q 0ICHG<OS fgggS 3\V<= f@hXf@A=

3ICI HI NBD<FI ;DH 0GCTR< 0aCB<FBS 0RbEG <D EGKWBDCFD DK RK VCIK FDIFCG ;GK;D HI<BU\VDKD< CDECDIK RK [ZRDVG ;D FMFDCD<] ;RCIKFD KRDWD ;MI<l DK D<FD FBDUTGS HI VDKFDEIKFIS ;IKbI Q aIED Uk<BEIS IU_K ;D EGUDC DK HI THIbI TCBKEBTIH DH NIUG<G [EaBCRBXEaG] CDVI;G EGK EaBEaI= *H THIFG EGK<B<FD DK DH EGKDZBHHG ;D BK;BI< YBDK I;GYI;GSIEGUTIdI;G ;D UIMb FG<FI;G Q IHVI<S FCI;BEBLK ^RD TICDED TCGWDKBC ;DH FBDUTG< ;DHBKEICBG=

+I <DCBD ;D HBDKbG< ^RD EGK<IVCI HI 3CGED<BLK ;D 0GCTR< NRD DKEGUDK;I;I TGC DH%YB<TG .GHHBKD;GS aIEBI fij@S IH TBKFGC -I<BHBG ;D #IKFI 0CRb Q <R FIHHDC= )GEDHBDKbG< D<F\K DK DH .R<DG OBCCDBKIH ;D 0RbEG Q FCD< DK #IKFBIVG ;D 0aBHD=

*K HI 'U_CBEI 'K;BKI DcB<FDK TGEG< ;GERUDKFG< FIK BKFDCD<IKFD< EGUG D<FI HICVI<DCBD ^RD KG< TCD<DKFI FG;I RKI <GEBD;I; CDRKB;I DK RK DWDKFG ^RD ;I FD<FBUGKBG ;D<R< I<TBCIEBGKD< CDHBVBG<I<S TCGYHDUI< TGHMFBEG< Q D<FCIFBNBEIEBLK <GEBIH=]

""= 8#%# 1 28,0"%,*# )* +' ".'7*, &*+"7"%#' *, +%# O"&&*",'$%#'.*&"0',%#?

[x 0GK NCDERDKEBI DK HG< WBCCDBKIFG< IUDCBEIKG< ICCIBVICGK IHVRKI< ;DWGEBGKD<^RD DK *RCGTI NRDCGK EDK<RCI;I< Q C\TB;IUDKFD <RTCBUB;I<= $IH NRD DH ERHFG I HG<<BDFD ICE\KVDHD< ^RD IH TCBKEBTBGS TCGED;DKFD ;D 3IHDCUGS NRD IEDTFI;G <BK ;BNBERHFI;DK &GUIS TDCG TG<FDCBGCUDKFD CDEaIbI;G TGC 7CDVGCBG `""" TGC EGK<B;DCICHG ITLECBNGQ KG NRK;IUDKFI;G <RNBEBDKFDUDKFD DK HG< FDcFG< YMYHBEG<= *K 'U_CBEI KG <LHG <DEGTBL DH VCIYI;G ;D fif@S GCBVBKIH ;D != {BDCBcS ^RD HG< CDTCD<DKFL I HG< <BDFD EGK <R<KGUYCD< Q IFCBYRFG< TCGTBG<S <BKG ^RD HI TCD<DKEBI ;D HG< <BDFD ICE\KVDHD< DK HID<ERHFRCI Q DK HI TBKFRCI <D EGK<B;DCL RK aDEaG EGK<RUI;G= 8KI ;D HI< CDTCD<DKFIXEBGKD< TH\<FBEI< U\< aDCUG<I< Q D<TDEFIERHICD< D< DH CDFIYHG ;D HG< 'CE\KVDHD< ;D HIBVHD<BI ;DH 0ICUDK DK #IK +RM< ;D 3GFG<M :._cBEG>= 3DCG <B QI CD<RHFIYI TCGYHDU\FBEGIEDTFIC GFCG< ICE\KVDHD< EGK KGUYCD TCGTBG ^RD HG< FCD< FCI;BEBGKIHD<S .BVRDHS &INIDHQ 7IYCBDHS CD<RHFI FG;IWMI BKDcTHBEIYHD HI ITICBEBLK DK HI bGKI IK;BKI ;D GFCG< URXEaG<S WB<FG<IUDKFD IFIWBI;G< EGUG ZDND< ;D HI< UBHBEBI< EDHD<FBIHD< Q EICVIK;GS DUTRXdIK;G G ;B<TICIK;G <R< UG^RDFD<= *<FG< ICE\KVDHD< ICEIYREDCG<S ;D Dc^RB<BFI Q RKFIKFG H\KVRB;I DHDVIKEBIS NRDCGK ;DKGUBKI;G< EGK HG< KGUYCD< aDYCDG< ;D -ICI;BDHS7IHVIHBDHS oGnYBDHS .IFICBDHS %NIKBDHS &IIUBDHS &IaFBDHS #IHVBDHS #IU<BDHS 9IIUIDHS 9ItIDHQ 9B^RBDH= 3ICDED ^RD FRWBDCGK <R GCBVDK DK DH HBYCG ITLECBNG ;DH TCGNDFI *KGEa <GYCDHG< \KVDHD<S <DVkK DH ERIH EI;I KGUYCD EGCCD<TGK;D I RK NDKLUDKG IFUG<N_CBEG=qRBb\< D<FI< <DCBD< ;D ICE\KVDHD< <D B;DICGK TICI IQR;IC I DcFBCTIC HI B;GHIFCMI ;D HG<I<FCG<S FIK DcFDK;B;I DKFCD HG< BK;MVDKI< ;D HG< 'K;D<S TGC HI WMI ;D <R<FBFRBC EI;ID<TMCBFR TIVIKGS ^RD TCG;REMI ;DFDCUBKI;G< D BKEGKFCGHIYHD< DNDEFG< ;D HI IFUL<NDCISTGC \KVDHD< ERQI BKFDCWDKEBLK D<FIYI <RZDFI I HI WGHRKFI; <RTDCBGC ;D )BG<= *H VCRTG

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hp

U\< KRUDCG<G Q EGUTHDFG D< DH ;D HI BVHD<BI ;D 0IHIUICEI :+I 3IbS -GHBWBI>S ^RD <D;IFI DK HG< HBYCG< ;D N\YCBEI ;D fij@ EGK DH CLFRHG ;D [\KVDHD< DK UICEaI]=

+I< BU\VDKD< ;D UREaG< <IKFG<S IB<HI;I< G DK <DCBD<S D<FIYIK TDK<I;I< UREaI<WDED<S U\< ^RD TICI BKEBFIC I TBD;I; D BUBFIEBLKS DK NRKEBLK ;DH TCD<FBVBG Q TCGTIVIKX;I ;D EBDCFI< EGHDEFBWB;I;D< CDHBVBG<I< Q <GEBIHD<= '<MS UREaI< ;D DHHI< NRDCGK UIK;IX;I< CDIHBbIC TGC LC;DKD< CDHBVBG<I<S EGNCI;MI<S aDCUIK;I;D< D BK<FBFREBGKD< DK EIUTIdI<;D<FBKI;I Q ;D #IK 2CIKEB<EG :.R<DG ;D 'CFD0GHGKBIHS 'KFBVRIS 7RIFDUIHI>= 3ICI;LZBEIUDKFD RKI ;D HI< BU\VDKD< ;D UIQGC EBCERXHIEBLK HG UB<UG DK 'U_CBEI EDKFCIH ^RD DK HI UDCB;BGKIH NRD HI ;DH ITL<FGH #IKFBIVGSTD<D I ^RD TCDNDCDKFDUDKFD <D HD CDTCD<DKFL I EIYIHHG Q UIFIK;G BK;BG<= *H TCGFGFBTGDCI DH D<TIdGH ;D #IKFBIVG DK HI YIFIHHI ;D 0HIWBZGS UIFIK;G UGCG<S TDCG IEGUG;I;GI HI< TDERHBICD< EBCERK<FIKEBI< ;D HI EGK^RB<FI ;D 'U_CBEI= 0GKNGCUD I IHVRKI< ECLXKBEI<S #IKFBIVG <D aIYCMI ITICDEB;G KI;I UDKG< ^RD <BDFD WDED< ;RCIKFD HI< YIFIHHI<DKFCD BK;BG< Q D<TIdGHD< CDdB;I< DK HI ,RDWI *<TIdIS TDHDIK;G ZRKFG I HG< kHFBUG< QUGKFIK;G RK YCBG<G EGCEDH D<TI;I DK UIKG= $IUYB_K <D ITICDEBL TICI IQR;IC I HG<EGK^RB<FI;GCD< D<TIdGHD< ;D 0RbEG ERIK;G HI EBR;I; NRD <BFBI;I TGC DH CDYDH;D .IKXEG "KEIS EIQDK;G EGUG RK CIQG <GYCD HI NGCFIHDbI ;D #IE<IaRIU\K= +RDVG <D WGHWBDXCGK HI< FGCKI< Q ;RCIKFD HI VRDCCI ;D HI BK;DTDK;DKEBI IUDCBEIKI #IKFBIVG <D ITICDEBLI HG< BK<RCVDKFD<S EGKWBCFB_K;G<D DK #IKFBIVG UIFIXD<TIdGHD<= 3DCG QI UREaG IKFD<HI <GEBD;I; ECBGHHIS <BK ;D<DEaIC HI ;DWGEBLK I HG< <IKFG< FCI;BEBGKIHD<S <D WGHEL aIEBIDH ERHFG ;D HG< KIFRCIHD< G KIFRCIHBbI;G< ;D HI< "K;BI< ^RD BYIK <BDK;G YDIFBNBEI;G< QEIKGKBbI;G< TGC HG< <RUG< TGKFMNBED< ;D &GUI5S DH UDcBEIKG 2DHBTD ;D eD<k<S UICFBCBXbI;G DK ,IVI<InB :eITLK> Q HG< TDCRIKG< &G<I ;D #IKFI .ICMI G ;D +BUIS $GCBYBG ;D.GVCGWDZGS +RM< -DHFC\K Q 2CIKEB<EG #GHIKGS I ^RBDKD< HG< TIFCBGFI< ECBGHHG< ;D RKG<R GFCG< WBCCDBKIFG< Q VGYDCKIEBGKD< EGUDKbICGK I WDKDCIC EGUG NHGCD< ;D <IKFB;I;ERHFBWI;I< DK DH NCREFMNDCG <RDHG ;DH ,RDWG .RK;G]=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hh

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hA

0'36$8+% #*78,)%+'# '&$*# 3+4#$"0'# *, +' ,8*O' *#3'P' "

f= ",$&%)800"J,

0GK NBKD< TD;IVLVBEG< ;BWB;BCDUG< DH D<FR;BG ;D HI< ICFD< TH\<FBEI< ;D HI _TGEIWBCCDBKIH DK ._cBEG DK ;G< TDCBG;G<= *H TCBUDCGS ^RD ICCIKEI EGK HI EGK^RB<FI Q HG<TCGED<G< ;D IERHFRCIEBLK Q DWIKVDHBbIEBLKS HG TG;DUG< ;IC TGC EGKEHRB;G DK DH TCBXUDC FDCEBG ;DH #BVHG Ò""= *<FBHM<FBEIUDKFD <D EGCCD<TGK;D EGK DH CDKIEBUBDKFG Q DHUIKBDCB<UGS ;D HICVI TCGQDEEBLK Q ;D<ICCGHHG DK HI ,RDWI *<TIdIS I<M EGUG EGK RKTCBUDC YICCGEGS ;GK;D TDCWBWDK DK VCIK UD;B;I HG< B;DIHD< UIKBDCB<FI<S ZRKFG I HIITICBEBLK FMUB;IUDKFD ;D HI TBKFRCI FDKDYCB<FIS ;D D<EI<I NGCFRKIS IRK^RD TCGKFGUIKBND<FI;G DK GYCI< Q ICFB<FI< <DdDCG<S ^RD D<EITIK I D<FD TCBUDC TDCBG;G TICI <DC DHTCGHDVLUDKG ;DH <BVRBDKFD=

*H <DVRK;G TDCBG;G ^RD HHDVI aI<FI DH UB<UG UGUDKFG ;D HI "K;DTDK;DKEBIS DK DHTCBUDC ERICFG ;DH #BVHG `"`S D< RKI _TGEI ;D VCIK D<THDK;GC ICFM<FBEG DK FG;G< HG<EIUTG<= '<M FCI< RK YCDWD UGUDKFG FDKDYCB<FIS DH THDKG YICCGEGS THDFLCBEG ;D HRED< QNGCUI< FCBRKNI EGK RKI< EGKKGFIEBGKD< URQ TICFBERHICD<S NCRFG ;D HI< D<TDEBIHD< EGKX;BEBGKD< DEGKLUBEI<S B;DGHLVBEI< Q CDHBVBG<I< DK ^RD <D ;D<DKWRDHWD HI <GEBD;I;KGWGaB<TIKI= 3GC GFCG HI;GS HI NRK;IEBLK ;D HI 'EI;DUBI ;D #IK 0ICHG<S I NBKIHD< ;DH#DFDEBDKFG<S <DC\ HI TCGTRH<GCI ;D HI WRDHFI I HG< B;DIHD< EHI<BEB<FI<S <BDK;G HI NBVRCI ;D$GH<\ ^RBb\< <R U\< VDKRBKG CDTCD<DKFIKFD=

OGHWBDK;G IH <BVHG Ò"S I HG< BKBEBG< aB<FLCBEG< ;D D<FD FDUIS aDUG< ;D <DdIHIC ^RDKG< DKEGKFCIUG< EGK RKG ;D HG< EITMFRHG< U\< DUYHDU\FBEG< Q GCBVBKIHD< ;D FG;G DHICFD WBCCDBKIH= #B YBDKS aIQ ^RD <DdIHIC I TCBGCBS ^RD DcB<FD RKI VCIK ;D<WDKFIZI ;D HID<ERHFRCI DK NIWGC ;D HG< CDFIYHG< Q D<TDEBIHUDKFD ;D HI TBKFRCIS ^RD aI<FI IaGCI aI<B;G HI U\< WIHGCI;I Q D<FR;BI;I= 1 D< ^RDS DK VCIK UD;B;IS HI< UDZGCD< CDIHBbIEBGKD<D<ERHFLCBEI<S QI ;D<;D DH <BVHG Ò"S D<F\K RKB;I< I VCIK;D< TCGQDEFG< Q EGKZRKFG<IC^RBFDEFLKBEG< vTGCFI;I<v G CDFIYHM<FBEG<= )D IaM ^RD IH NGCUIC TICFD ;D D<D VCIKFG;G HI BUIVDK TBDC;I TICFD ;D <R BK;BWB;RIHB;I; DK NIWGC ;DH EGKZRKFG DK ^RD <DBKFDVCI= ,G GY<FIKFDS HI BUIVDK ;D YRHFG CD;GK;GS ;D VCIK FCI;BEBLK DK DH URK;G

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hi

TCDaB<T\KBEGS D<F\ TCD<DKFD ;D<;D HG< UB<UG< EGUBDKbG< ;D HI DWIKVDHBbIEBLK TGC <RVCIK WIHGC EIFD^R_FBEG Q ;DWGEBGKIHS YBDK I FCIW_< ;D GYCI< BUTGCFI;I<S G ;DYB;I< IICFB<FI< DUBVCI;G< ;D<;D HI UDFCLTGHB G ;D UID<FCG< HGEIHD<S QI ECB<FBIKBbI;G<S Q GCBDKXFI;G< TGC HG< CDHBVBG<G<=

#BVRBDK;G D<FD GC;DK ;D <BVKBNBEIEBLKS DK TCBUDC HRVIC KG< EDKFCICDUG< DK HI TBKXFRCIS EGUDKbIK;GS KDED<ICBIUDKFDS TGC D<D VCIK EITMFRHGS EI;I WDb UDZGC CDTCD<DKFIX;G DK EIHB;I; Q EIKFB;I; ^RD D< HI TBKFRCI URCIHS TICIS I EGKFBKRIEBLKS ;DFDKDCKG< DKHI< CD<FIKFD< UIKBND<FIEBGKD< IKRKEBI;I< vTBKFRCI ;D EIYIHHDFDS D<ERHFRCI Q HG< CDFIXYHG<v= ,G <BK IKFD< <DdIHICS URQ YCDWDUDKFDS IHVRKI< EGK<B;DCIEBGKD< <GYCD HG<FBTG< ;D UIFDCBIHD<S NRDKFD< ;D BK<TBCIEBLKS FDU\FBEI< U\< R<RIHD<S EGK;BEBGKD< <GEBGXHIYGCIHD< ;D HG< ICFB<FI< G F_EKBEI<=

?= 0'$*q8"9'0"J, 1 3",$8&' .8&'+

)D<;D HG< UB<UG< EGUBDKbG< ;D HI DWIKVDHBbIEBLK HI< ICFD< TH\<FBEI<S DK D<TDEBIH HITBKFRCI Q D<ERHFRCIS D<F\K TCD<DKFD< DK HI ,RDWI *<TIdIS TGC HI KDED<B;I; ^RD FDKMI HI"VHD<BI 0IFLHBEI ;D BHR<FCIC EGK BU\VDKD< <R HIYGC EIFD^RBbI;GCI= +I TIHIYCI GCIH GD<ECBFI D< UREaG U\< DNBEIbS <B <D aIED VC\NBEIUDKFDS D<TDEBIHUDKFD I^RDHHG< TI<IZD<U\< BUTGCFIKFD< Q I HI WDb ;BNMEBHUDKFD EGUTCDK<BYHD<S EGUG HI 3I<BLK ;D 0CB<FGS HIWB;I ;D .ICMI G ;D I^RDHHG< <IKFG< ^RD <D TCGTGKMIK EGUG UG;DHG< I <DVRBC= *ZDUTHG;D DHHG <DC\K HG< TCBUDCG< EIFDEB<UG<S EGUG DH ;D 2CIQ 3D;CG ;D 7IKFDS EGK<DCWI;G DKHI -BYHBGFDEI ,IEBGKIH ;D .I;CB;S ERQG< TD^RDdG< ITRKFD<S I UIKDCI ;D ZDCGVHMNBEG<;D FIKFG ICCIBVG DK DH URK;G TCDaB<T\KBEGS ;DYBDCGK <DC GYCI ;D IHVkK FHIERBHG :TBKXFGC BK;MVDKI>S <BVRBDK;G <BDUTCD HI< ;BCDEFCBED< ;D D<FD NIUG<G UB<BGKDCG= *< U\<S 2CIQ3D;CG ;D 7IKFDS NRD DH NRK;I;GC ;D HI *<ERDHI ;D 'CFD< Q %NBEBG< ;D #IK eG<_ ;D HG<,IFRCIHD<S DK DH 0GKWDKFG ;D #IK 2CIKEB<EG ;D HI EITBFIH WBCCDBKIH= '^RM HG< BK;MVDKI<SI;DU\< ;D HI ;GEFCBKIS I HDDC Q I EIKFICS ITCDK;DC\K RK GNBEBGS TRD< DCI URQ KDED<ICBGTCDTICIC HI UIKG ;D GYCI ^RD <D DKEICVICMI ;D D;BNBEIC HI< BVHD<BI<S EGKWDKFG<S I<M EGUG IURDYHICHI< ;D FG;G HG KDED<ICBG= 'TCGWDEaIK;G TICI DHHG HI aIYBHB;I; ICFM<FBEI;D HG< KIFRCIHD< ^RD TICFMIS HLVBEIUDKFDS ;DH ERHFBWG ;D HI< ICFD< ;D HI ERHFRCI IbFDEI=*<FI TCBUDCI D<ERDHI <BCWBL ;D UG;DHG TICI DH D<FIYHDEBUBDKFG ;D GFCI<S KG <LHG ;DNCIKEB<EIKG<S <BKG BUBFI;I< TGC IVR<FBKG< Q ;GUBKBEG<= "KEHR<GS DH TCGTBG GYB<TG OI<XEG ;D qRBCGVI BK<FIHICMI BK<FBFREBGKD< <BUBHICD< DK <R< TRDYHG<XaG<TBFIHD< ;D .BEaGIE\K=

0GK<DERDKEBI ;BCDEFI ;D D<FD <B<FDUI ;D ITCDK;BbIZD Q ;D EIFD^RBbIEBLK <DC\ ^RDDH TCBUDC VCIK EITMFRHG ICFM<FBEG FDKVIUG< ^RD HGEIHBbICHG DK HG< TCGTBG< EGKWDKFG<=7CIK;D< TCGVCIUI< ;D TBKFRCI URCIH <D ;D<ICCGHHIC\K DK HI< EITBHHI< IYBDCFI<S TG<I<SIFCBG<S BVHD<BI< Q EHIR<FCG<= 8KI< WDED< EGK NBKD< EIFD^R_FBEG<S ;B;\EFBEG< Q ;DWGEBGXKIHD< QS GFCI< WDED<S EGK BKFDKEBLK TCGTIVIK;M<FBEI :DcIHFIEBLK ;D HI GC;DK DK ERD<XFBLK>=

3GC NGCFRKIS EI;I WDb D< UIQGC DH BKFDC_< TGC D<FG< IUTHBG< EGKZRKFG< ;D TBKFRXCI< URCIHD<S ^RD ;RCIKFD EDKFRCBI< TDCUIKDEBDCGK DK DH U\< EGUTHDFG ;D HG< IYIKX;GKG<S HG ERIH HD< TDCZR;BEL DKGCUDUDKFD= !GQ D<FIUG< DK EGK;BEBGKD< ;D INBCUIC^RD D<FIUG< IKFD RKI ;D HI< UIKBND<FIEBGKD< ICFM<FBEI< ;D UIQGC ;D<ICCGHHGS FIKFG DKEIHB;I; EGUG DK EIKFB;I; ;D FG;G DH TDCBG;G WBCCDBKIH= 0BCERK<ECBFI< I \UYBFG<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hs

EGKWDKFRIHD< Q NDEaIYHD<S EI<B FG;I< DHHI<S DK DH <BVHG `O"S DcTCD<IKS I;DU\<S <REHICI EGKFBKRB;I; EGK DH TDCBG;G TCDaB<T\KBEG IH <DC GYCI ;D ICFB<FI< BK;MVDKI< RKIWDb ECB<FBIKBbI;G<=

$_EKBEIUDKFD KG <GK NCD<EG< :DCCGC EGCCBDKFD ;D BKFDCTCDFIEBLK> TRD< ;GUBKI DHFDUTHD I YI<D ;D TBVUDKFG< ;D GCBVDK WDVDFIH Q UBKDCIHS EGK RKI VIUI ECGU\FBEIURQ HBUBFI;IS EGK ;GUBKBG ;DH YHIKEG Q DH KDVCG= ,G <BDUTCD <D TBKFIYI ;BCDEFIUDKFD<GYCD DH URCGS <BKG ^RD I WDED< <D aIEMI <GYCD TITDH IUIFD G TDCVIUBKG ^RD <DI;aDCMI I HI TICD; GS BKEHR<GS ^RD;IYIK <RDHFG<S EGUG HI< HHIUI;I< <ICVI< ^RD NRDCGKFIK kFBHD< DK HI DWIKVDHBbIEBLK=

0I;I WDb <GK U\< KRUDCG<G< HG< DZDUTHG< CDERTDCI;G<S IRK^RD EI<B <BDUTCD EGKIR<DKEBI< ^RD KG TDCUBFDK HI HDEFRCI BEGKGVC\NBEI EGUTHDFI= ,G GY<FIKFDS <LHG <DdIXHICDUG< IHVRKI< URD<FCI< EGKWDKFRIHD< <DdDCI< QS ;D<TR_<S DH kKBEG EI<G <BVKBNBEIFBXWG ;DH \UYBFG EBWBH= ,G< CDNDCBUG ;GK;D<D ;D<ICCGHHI RK BKFDCD<IKFD TCGVCIUI ;D;BEI;G I HI< #BYBHI< Q I HG< $CBRKNG< ;D3DFCICEIS ^RD ;DZIK DKFCDWDC RK NRDCFD EGKFDKB;G UGCIH=

)DKFCG ;DH TCBUDC VCRTG CD<DdICDUG< HI< TBKFRCI< ;D *TIbGQREIKS HI< ;D 'EFGTIKvIUYG< EGKWDKFG< IVR<FBKG< ;DH *<FI;G ;D !B;IHVGvS HI< ;D HI YLWD;I ;DH <GFGEGXCG ;DH EGKWDKFG NCIKEB<EIKG ;D $DEIUIEaIHEGS DK DH ;D 3RDYHIS DH kKBEG EGKZRKFGNDEaI;G Q NBCUI;GS TICI FDCUBKIC IHR;BDK;G I HI< <BKVRHICD< TBKFRCI< ^RD I;GCKIK HIBVHD<BI ;DH EGKWDKFG ;D "cUB^RBHTIK=

*K DH TCBUDC EI<G EBFI;GS NBVRCIK DK RKG< ICEG<GHBG< ;D HG< \KVRHG< ;DH EHIR<FCG QD<F\K ;D;BEI;I< I HI 3I<BLK ;D 0CB<FG Q I HI OBCVDK .ICMI vDH *EED !GUGS 0CB<FGEIUBKG ;DH 0IHWICBGS <R DKERDKFCG EGK .ICMIS DH )D<EDK;BUBDKFG ;D HI 0CRb Q HI)GCUBEBLK ;D HI OBCVDKv= *<F\K BK<TBCI;I< DK UG;DHG< NHIUDKEG< D BFIHBIKG<=

7CIK BKFDC_< Q EIFDVGCMI ICFM<FBEI FBDKDK HI< ;DH 0GKWDKFG ;D 'EFGTIKS vNRK;I;GTGC 2CIQ 'K;C_< ;D .IFIS DK fAhiS I ^RBDK <D HD IFCBYRQDK FIUYB_K HI< FCIbI<vS ^RD;DYBL <DC GYCI ;D WICBG< ICFB<FI< IWDbI;G<S ^RD UIKDZICGK EGK <GHFRCI ;BWDC<G< CDTDCXFGCBG< ;D VCIYI;G< Q FCIFI;G< ;D IC^RBFDEFRCI= 0RIFCG <GK HG< \UYBFG< EGK TBKFRCI<URCIHD<5 DK TCBUDC HRVIC HI VCIK D<EIHDCIS DK ERQI EIZI KG< DKEGKFCIUG< EGK DH U\<EGUTHDFG TCGVCIUI BEGKGVC\NBEG ;D DcIHFIEBLK ;D HI GC;DK ;D #IK 'VR<FMK v<R<ERIFCG TIdG< WIK ;BWB;B;G< DK WICBI< NCIKZI< aGCBbGKFIHD<S ;DEGCI;I< EGK CBEG< VCRXFD<EG<S DH D<ER;G ;D HI GC;DKS DH IKIVCIUI ;D 0CB<FG Q DH ;D .ICMIS Q ;DKFCG ;D RKG<ICEG< ;D UD;BG TRKFG CDYIZI;G< ITICDED RK NIUG<G IVR<FBKGS CDUIFIK;G DH EGKZRKFGHI .IV;IHDKIS HI OBCVDK Q RK <IKFG DCUBFIdGv DK IHR<BLK I HI GCIEBLKS EGUG YI<D ;DHYRDK CDHBVBG<G= *K HI <IHI ;D TCGNRK;B<S ;GK;D <D WDHIYI I HG< CDHBVBG<G< NIHHDEB;G<SFDKDUG< HI $DYIB;I G HG ^RD D< HG UB<UG HG< GCMVDKD< UMFBEG< ;D HI GC;DK= *K HITGCFDCMI RK VCIK URCIH KG< TCD<DKFI I #IK 'VR<FMK EGUG TCGFDEFGC ;D HI %C;DK Q TGCDK;D ;D HG< ^RD IHHM <D IEDC^RDK QS TGC kHFBUGS HI EITBHHI IYBDCFI KG< YCBK;I RK IUTHBGTCGVCIUI BEGKGVC\NBEG ;D;BEI;G I DcIHFIC HI YGK;I; ;DH EIFGHBEB<UG I FCIW_< ;DTI<IZD< EHIWD< ;DH 'KFBVRG Q ;DH ,RDWG $D<FIUDKFG=

+I< TBKFRCI< ;D HI YLWD;I ;DH <GFGEGCG ;DH EGKWDKFG NCIKEB<EIKG ;D $DEIUIEaIHXEG <GK ;D FDUI YMYHBEGl D<F\K TBKFI;I< IH LHDG <GYCD TITDH IUIFD Q I;aDCB;I< I HG<;B<FBKFG< aRDEG< ^RD NGCUIK HI< KDCWI;RCI< ;D <R YLWD;I D<FCDHHI;I= !IK <B;G NDEaIX;I< DK fAi? Q ;GERUDKFI;G <R IRFGCS DH FHIERBHG eRIK 7DC<GK= )GUBKI DH IbRHS HG<FGKG< ;GCI;G< Q GECD< Q RKI VCIK VIUI ;D VCB<D< aI<FI HHDVIC IH KDVCG=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hj

*00* !%.% = 0+'8#$&% )* *3'9%180',=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$A@

3",$8&' )* $&')"0"J, 3&*!"#34,"0'= "7+*#"' )* "`."q8"+3',=

*+ 7&83% )* +%# )%0*= 0+'8#$&% )* !8*e%$9",7%=

IHFG= '^RMS DK HG< \KVRHG< Q DK TD^RDdG< KBEaG< EGUG DK *TIbGQREIKS KG< DKEGKFCIXUG< EGK FDUI< IHR<BWG< I HI 3I<BLK ;D 0CB<FGS BKFCG;REBDK;G DH ICFB<FI DK DH ;DH 0IHWIXCBG I #IK 'VR<FMK GCIK;G IH TBD ;D HI ECRbS UBDKFCI< DK HG< URCG< HIFDCIHD< Q DK <RYLWD;I <GK VCIK;D< TIKDHD< ;DEGCIFBWG< ;D FDUI WDVDFIH Q VDGU_FCBEGS IHVRKG< ;DEHICI I<EDK;DKEBI <DCHBIKI= 2BKIHUDKFDS Q EGUG DZDUTHG ;D WBCFRG<B<UG NGCUIH QF_EKBEGS DK DH TD^RDdG EGKWDKFG ;D 0aICGS DK DH *<FI;G ;D .GCDHBIS FDKDUG< I HGHICVG ;D HG< ERIFCG TIK;I< ;D <R EHIR<FCG RK EGUTHDZG EBEHG ;D;BEI;G I DcIHFIC I HIGC;DK IVR<FBKIS FIKFG DK <R CIUI NDUDKBKI EGUG UI<ERHBKI=

)DKFCG ;D HI TBKFRCI <BUYLHBEIXaRUIKM<FBEI RK EI<G <BKVRHIC HG EGK<FBFRQDK HI<TBKFRCI< ;D HI 0I<I ;DH )D\K ;D 3RDYHI ;D HG< 4KVDHD<S TRD< KG< URD<FCI EGUG D<D

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$A?

;DKFCG ;D RK TIB<IZD B;DIHS DK HI TICFD <RTDCBGC ;D EI;I D<EDKI Q ;DKFCG ;D RK FGK;GITICDED DH UGFBWG ECB<FMNDCG ^RD IKRKEBIKv= .BDKFCI< DK HI GFCI <IHI FDKDUG< RKIDcIHFIEBLK ;D HG< EICCG< FCBRKNIHD< ;D HI IKFBVuD;I; vDH FCBRKNG ;DH IUGCS ;D HI EI<FBX;I;S ;DH FBDUTGS ;D HI URDCFD Q ;D HI NIUIvS <DVkK HI WDC<BLK ECB<FBIKBbI;I ^RD DK DHFCDEDKFG BFIHBIKG CDIHBbL 3DFCICEI=

p= +' 3",$8&' )* 0'-'++*$*

0GUG QI <D aI <DdIHI;GS DK HG< EGUBDKbG< ;D HI ECB<FBIKBbIEBLK HG< GYZDFG< ;DERHFG Q HBFkCVBEG<S IRK^RD URQ KDED<ICBG<S DCIK URQ D<EI<G<= $G;G FDKMI ^RD <DCBUTGCFI;GS <B YBDK TCGKFG <D DEaL UIKG ;D HI ;D<FCDbI ;D HG< KIFRCIHD<S <RTHBDK;G HIKDED<B;I; ;D TBKFRCI< EGK HG< UG<IBEG< ;D THRUI<S HI< <ICVI<S DFE= ';DU\<S DH IRVDDEGKLUBEG D<TIdGH ;DH UGUDKFG KG BKWBFIYI I HG< ICFB<FI< ;D HI 3DKMK<RHI "Y_CBEI IBKBEBIC HI IWDKFRCI IUDCBEIKI= ,G GY<FIKFDS TICI HI FDUTCIKI NDEaI ;D fAAsS QI aIYCMIRK KkUDCG EGK<B;DCIYHD ;D TBKFGCD<S TRD< <D ECDI DH VCDUBGS IH ^RD <D ;GFI EGK <R<CD<TDEFBWI< GC;DKIKbI<= *K DHHI< <D D<FIYHDEDK ERIFCG EIFDVGCMI<5 BUIVBKICBG<S ;GCIX;GCD<S NCD<^RB<FI< Q <ICVRDCG<= ,RD<FCG BKFDC_< <D EDKFCI DK HG< TCBUDCG<S TRD< <GKCDIHUDKFD HG< TBKFGCD<S I HG< ^RD <D HD< DcBVMI RK EIYIH EGKGEBUBDKFG ;D HG< TCGED;BXUBDKFG< F_EKBEG< :<IYDC ;BYRZICS ;GUBKIC DH ;D<KR;GS HI TDC<TDEFBWI Q HG< TIdG<> Q ;DHG< UIFDCBIHD<= ' HG< <DVRK;G< <D HD< DKEICVIYI DH TGHBECGUI;G ;D CDFIYHG< D BU\VDXKD<S I HG< FDCEDCG< HI< TBKFRCI< URCIHD< Q HG< kHFBUG< G <ICVRDCG< HI CDIHBbIEBLK ;D D<I<VCIK;D< FDHI<S EGK RK EIC\EFDC TCGWB<BGKIH Q EGK IYRK;IKFD< FCIUTIKFGZG<= ' TICFBC;D IaGCI HG< FIHHDCD< KGWGaB<TIKG< HDVIHUDKFD TG;CMIK <DC HG< DKEICVI;G< ;D <RUBKB<XFCIC HI UIQGC TICFD ;D HI< TBKFRCI< ^RD <D ;D<FBKIYIK I DKKGYHDEDC FIKFG HG< \UYBFG<DEHD<B\<FBEG< EGUG HG< EBWBHD<=

*<FG KG BUTHBEI ^RD ;RCIKFD UREaG FBDUTG HI TCG;REEBLK D<F_ DK UIKG< ;D ICFB<XFI< TCGWDKBDKFD< ;DH WBDZG URK;GS ^RBDKD< IYCBCMIK FIHHDCD< ;GK;D <D NGCUICMIK KRUDXCG<G< ICFB<FI< HGEIHD<= #DC\K _<FG< ^RBDKD<S IK;IK;G DH FBDUTG Q DK EGK<GKIKEBI EGKHI <GEBD;I; TICI HI ^RD FCIYIZIYIKS BUTCBUBCMIK I <R< FCIYIZG< RKI< <GHREBGKD< Q DcXTCD<BGKD< TCGTBI< ^RD KG< TDCUBFDK aIYHIC ;D RKI [D<ERDHI ;D TBKFRCI KGWGaB<TIKI]SUI<S DK kHFBUI BK<FIKEBIS <BDUTCDS ;DKFCG ;D HI LCYBFI D<F_FBEI ;DH WBDZG EGKFBKDKFD=

)D<;D DH TRKFG ;D WB<FI F_EKBEG ;GUBKI DH LHDGS FIKFG TGC <R NIEBHB;I; ;D ITHBEIXEBLKS EGUG TGC HI YCBHHIKFDb ;D HG< EGHGCD< Q HG HR<FCG<G ;D <R< CD<RHFI;G<= *H <GTGCFD;RCIKFD EI<B FG;G DH <BVHG `O" <DC\ DH HBDKbG <GYCD FIYHIS UI<S EGUG <RED;D DK HI3DKMK<RHIS KG <D TBKFI ;BCDEFIUDKFD <GYCD HI UI;DCI <BKG <GYCD HI FDHIS ^RD TCDWBIUDKXFDS TICI ;ICHD UIQGC EGK<B<FDKEBIS <D I;aDCMI I VCRD<G< FIYHGKD< URQ YBDK FCIYI;G<= 'EGUBDKbG< ;DH <BVHG `O"" HI FIYHI ;DZL TI<G IH HBDKbG= *H R<G ;DH EGYCD NRD UREaG U\<CD;REB;GS IRK^RD <R FDcFRCI NBKIHS TGC <R NBKRCI Q HB<RCIS D< UREaG U\< Dc^RB<BFI QCDNBKI;I=

+I VIUI ECGU\FBEI D< URQ HBUBFI;IS <GYCD FG;G DK HG< EGUBDKbG<= #GYCD<IHDK DHYDCUDHHLKS DH IbRHS DH GECDS ITICFD ;D HI IUTHBFR; ;D KDVCG< Q YHIKEG<= "VRIH <RED;DEGK HI FDU\FBEIS ;GK;D aIQ RK EHICG TCD;GUBKBG ;D HI CDHBVBG<IS TRD< HI TBKFRCI DCI DHUDZGC EGUTHDUDKFG ;D HI EIFD^RD<B<= +G< TCBKEBTIHD< TI<IZD< CDTCD<DKFI;G< <GK ;DH'KFBVRG Q ;DH ,RDWG $D<FIUDKFGS HI WB;I ;D 0CB<FG Q ;D HI OBCVDKS BKEHR<GS DK RK

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# Ap

TCBUDC UGUDKFG YR<EIK;G HG IVCI;IYHD Q TGEG ECRDKFGS <B <D FCIFI ;D HI 3I<BLK="VRIHUDKFDS DK HI< WB;I< ;D <IKFG< <D aRQD ;D HI< D<EDKI< ;D ;GHGCS TCDNBCBDK;G DcIHXFIC<D <R< VCIK;D< WBCFR;D< I <DVRBC D BUBFIC TGC HG< NBDHD<= $G;G DHHG ;DKFCG ;D HI U\<TRCI GCFG;GcBI TICI KG EIDC DK UIKG< ;D HI "K^RB<BEBLK= $DUI< FIK EGURKD<S DK D<FDHI;G ;DH 'FH\KFBEGS EGUG DH TIB<IZDS HG< YG;DVGKD<S HI< D<EDKI< ;D V_KDCG G HI UBFGHGXVMIS <GK URQ D<EI<G< aI<FI YBDK IWIKbI;G DH <BVHG `O""= #D <IHWI DH CDFCIFG ;D IHVRKG<ICbGYB<TG< Q WBCCDQD<S VDKDCIHUDKFDS ;D FBTG EGKWDKEBGKIHS EI<B BKDcTCD<BWGS ;DKFCG;D EGUTG<BEBGKD< <BUTHD<S ;GK;D HI< kKBEI< BKKGWIEBGKD< D<F\K DK DH WD<FRICBG G DKDH UGYBHBICBGS FCIFI;G< EGK VCIK D<UDCG TICI BUTCD<BGKIC IH D<TDEFI;GC=

*H aDEaG ;D ^RD HG< ICFB<FI< WBWBDCIK YI<FIKFD IB<HI;G< EGK CD<TDEFG I HG ^RD <DaIEMI DK *<TIdI Q DK *RCGTI QS <GYCD FG;GS I HI< VCIK;D< EGHDEEBGKD< HBUBFL <RaGCBbGKFD Q NGCUIEBLK= ,G DCI N\EBH WBIZIC I HI UDFCLTGHBS HG ^RD HD< aRYBDCI TDCUBFB;GDWGHREBGKIC aIEBI HI< KRDWI< FDK;DKEBI< D<FBHM<FBEI<= $IUTGEG DcB<FBL RKI HIYGC ;DUDEDKIbVGS <BDK;G HI EHBDKFDHI NRK;IUDKFIH HG< EGKWDKFG<S HG< EIYBH;G< EIFD;CIHBEBG<Q URKBEBTIHD<S BUTGCFIKFD< TDC<GKIZD< ;D HI <GEBD;I; KGWGaB<TIKIS DFE=S ^RBDKD< DKXEICVIC\K VCIK;D< EBEHG< ;D FDU\FBEI CDHBVBG<I= "KEHR<G BUTGKBDK;G HG< UG;DHGS TGC HG ^RD HG< ICFB<FI< DCIK EGK<B;DCI;G< UDCG< ICFD<IKG<=

p=f= )D HG< BKBEBG< I HI TCBUDCI 7CIK 7DKDCIEBLK .IKBDCB<FI

%YWBIK;G I^RDHHG< TCBUDCG< Q D<TGKF\KDG< TBKFGCD<S ^RD TCGHBNDCICMIK IH BKBEBGSDKFCD DHHG< HG< NCIBHD<S ^RBDKD< EGK U\< WGHRKFI; ^RD EGKGEBUBDKFG< BK<FCRBCMIK I HG<KIFRCIHD< DK HG< EIUBKG< ;DH ICFDS I<M EGUG RKI <DCBD ;D KGUYCD<S EGUG 0CB<FLYIH ;DqRD<I;I G eRIK ;D "HHD<EI<S ;D HG< ^RD KG FDKDUG< KBKVRKI GYCI ;GERUDKFI;ISIRK^RD <M IYRK;IKFD< KGFBEBI< ^RD KG< TCRDYIK <R IEFBWB;I;S DH TCBUDC ICFB<FI EGKGYCI ;GERUDKFI;I D< ,BEGH\< ;D $DcD;I 7RbU\KS IRFGCS EGK GFCG< ICFMNBED<S ;DH CDFIXYHG UIQGC ;D 0RIRaFBKEaIKS DK DH *<FI;G ;D 3RDYHI= 7GbL ;D VCIK TCD<FBVBG DK DHVCDUBGS TRD< NRD <R WDD;GCS Q I;DU\< ;D RK <GHBEBFI;G ;B<DdI;GC vFCIbL HG< TkHTBFG<;D HI TCBUDCI EIFD;CIH ;D HI 0BR;I; ;D ._cBEGv= ' D<FD UGUDKFG TDCFDKDEDK IHVRXKI< GYCI< IKLKBUI< EGUG DH CDFIYHG ;D HI "VHD<BI ;D $DEIHB G IHVRKI< FIYHI< <RDHFI< ;DHTCBUDC CDFIYHG ;D HG< EGKWDKFG< ;D 'EGHUIK G ;D *TIbGQREIK=

*<FI< NBVRCI<S UREaI< IkK ;D<EGKGEB;I<S Q GYCI< <DC\K HI YI<D Q DH NRK;IUDKFG ;DHI TCBUDCI VDKDCIEBLK ;D TBKFGCD< UIKBDCB<FI<S IEFBWG< ;RCIKFD EI<B FG;I HI <DVRK;IUBFI; ;DH qRBKBDKFG< Q ^RD IHEIKbIC\ <R THDKBFR; EGK HI HHDVI;I I ._cBEG ;D ;G<VCIK;D< TBKFGCD<5 DH NHIUDKEG #BULK 3DCDQK< Q DH <DWBHHIKG 'K;C_< ;D HI 0GKEaI=eRKFG I DHHG<S QI DK DH kHFBUG FDCEBG ;DH <BVHGS DKEGKFCIUG< I GFCG< EGUG 2CIKEB<EG ;D9RUIQIS 2CIKEB<EG ;D .GCIHD<S 'HGK<G 2CIKEG G 3D;CG ;D 'CCR_= 3BKFGCD< TGEG EGXKGEB;G<S D< RKG ;D HG< VCIK;D< UID<FCG< ;DH <BVHG `O"= ,IFRCIH;D 'UYDCD<S FCI< TI<IC TGC +B<YGI Q .I;CB;S HHDVL I ._cBEGS EGUG TBKFGC ;DH WBCCDQ7I<FLK ;D 3DCIHFIS UIC^R_< ;D 2IHED<= 2RD TCGED<I;G TGC HI "K^RB<BEBLK TGC ;DKRKEBI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$Ah

;D 2CIKEB<EG ;D .GCIHD< DK CIbLK ;D <R WB;I HBEDKEBG<I ;D HI ^RD <D ZIEFIYI DKTkYHBEG= 7CIEBI< I D<FD TCGED<G EGKGEDUG< KRUDCG<I< KGFBEBI< ;D <R WB;I= '<MS <IYDXUG< ^RD EGUG EI<FBVG FRWG ^RD TBKFIC DH ;D<ITICDEB;G CDFIYHG ;D HI OBCVDK ;D HI.DCED; ;D HI TCBUDCI EIFD;CIH ;D ._cBEG= $IUTGEG ^RD;I KI;I ;D HG< CDFIYHG< ^RDaBbGS ZRKFG EGK GFCG< ICFB<FI<S TICI HI TCBUDCI BVHD<BI ;D HG< IVR<FBKG<= +I EGHIYGCIEBLKEGK GFCG< ICFB<FI< HI CDTDFBCMI DK GFCI< GEI<BGKD<= '<MS HG aBbG EGK DH IC^RBFDEFG 0HIR;BG;D 'CEBKBDVIS EGK <R aBZG +RB< Q EGK DH TBKFGC 'K;C_< ;D HI 0GKEaI= .I< <IHWG DHCDFIYHG ;D !RDZGFbBKVGS CDIHBbI;G EGK _<FD kHFBUGS EGK DH D<ERHFGC 3D;CG ;D &D^RDKIQ EGK DH ;GCI;GC .ICEG< ;D #IK 3D;CGS KG <D EGK<DCWI KI;I ;D <R GYCI DK EGHIYGCIXEBLK= "KEHR<G FIUYB_K <D TDC;BL DK DH BKEDK;BG ^RDS DK fgisS <RNCBL HI EIFD;CIH ;D._cBEGS DH NIUG<G ERI;CG ;D HI OBCVDK ;D HG< 3DC;GKD< ;DH FCI<EGCG= "K<TBCI;G DKUG;DHG< CINIDHD<EG<S I FCIW_< ;D RK VCIYI;G ;D .ICEIKFGKBG &IBUGK;BS aGQ GERTI<R HRVIC RKI YRDKI EGTBI= *K EIUYBG <M <D EGK<DCWI <R #IK 0CB<FLYIHS DK HI EITBHHI ;DHI "KUIERHI;I 0GKEDTEBLKS NBCUI;G DK fAjj=

'K;C_< ;D HI 0GKEaI :fAijXfif?> D< HI GFCI VCIK NBVRCI ;DH CDKIEBUBDKFG KGWGaB<XTIKG= %CBRK;G ;D #DWBHHIS ;GK;D FIH WDb NRD ;B<EMTRHG ;D +RB< ;D OICVI<S HHDVI I._cBEG THDKIUDKFD NGCUI;GS HGVCIK;G VCIK NIUI= #R WDKB;I <D ;DYD IH EGKFCIFG ^RDNBCUL DK #DWBHHI EGK DH DKEGUDK;DCG ;D 1IKaRBFH\K v7GKbIHG ;D HI< 0I<I<v TICICDIHBbIC RK CDFIYHGS TGC NGCFRKI EGK<DCWI;G= ,G GY<FIKFDS <R TCBUDC FCIYIZG NRD DHCDFIYHG UIQGC ;D HI EIFD;CIH ;D %IcIEIS I<M EGUG IHVRKG< EGHIFDCIHD<= $G;G< TDC;BX;G<S IRK^RD <D EGK<DCWIK IHVRKI< FIYHI< IB<HI;I< :RK #IK #DYI<FB\KS RK #IK .BVRDHSURQ TCLcBUG I GFCG ;D .ICFMK ;DH OG<S Q RKI #IVCI;I 2IUBHBIS FG;G< URQ UIKBDCB<XFI<>=

3CGKFG <D D<FIYHDED DK HI EITBFIH ;DH WBCCDBKIFGS BKBEBIK;G RKI NCREFMNDCI EGHIYGCIXEBLKS DKFCD GFCG<S EGK 3DCDQK< :CDFIYHG ;D !RDZGFbBKVG QI EBFI;G Q DH ;D HI TCBUDCIBVHD<BI ;D #IKFG )GUBKVG>= 3CDEB<IUDKFDS IdG< U\< FIC;DS DK #IKFG )GUBKVGS TGCDKEICVG ;D HI "K^RB<BEBLKS <D GERTL ;D HI< TBKFRCI< ;DH FkURHG NRKDCICBG ;D 2DHBTD ""=,G GY<FIKFDS HI UIQGC TICFD ;D <R GYCI <D EGK<DCWI DK HI .BcFDEI GIcI^RDdI TICFBXEBTIK;G DK HG< CDFIYHG< ;D 1IKaRBFH\KS 0GBcFHIaRIEIS $IUIbRHITIKS 'EaBRFHI Q $DXTG<EGHRHI= +G< FCD< TCBUDCG< <D EGK<DCWIKS <RUIK;G RK FGFIH ;D p@ FIYHI<= ' TICFBC ;DIaGCI FCIYIZICI D<DKEBIHUDKFD TICI HG< ;GUBKBEG<S TCDEB<IUDKFD HI URDCFD HD HHDVI DKfif?S CDIHBbIK;G DH CDFIYHG ;D %IcFDTDE Q DH UIQGC ;DH EGKWDKFG ;D %IcIEI=

,G GY<FIKFDS EGUG ICFB<FI ;DH CDKIEBUBDKFGS <R IEFBWB;I; NRD UREaG U\< EGUTHDZI= '<MSTICIHDHIUDKFD FRWG RKI BKFDCWDKEBLK URQ ;DEB;B;I EGUG IC^RBFDEFG :DK fAgs DCI GYCDCGUIQGC ;DH *<FI;G Q .IC^RD<I;G ;DH OIHHD ;D %IcIEIS DK fAgg GTG<BFL <BK _cBFGS TGCGTG<BEBLK ;DH WBCCDQ )= 7GKbIHG ;D 9kdBVI Q 'EDWD;GS I HI UID<FCMI UIQGC ;D HI EIFD;CIH;D 7RI;IHIZICIS IRK^RD <M HGVCLS DK fi@fS HI ;D HI EIFD;CIH ;D ._cBEGS IH UGCBC )BDVG ;D'VRBHDCIS IRK^RD <LHG ;D RKI NGCUI BKFDCBKI TGC ;DEB<BLK ;DH UB<UG WBCCDQ= "KEHR<GS EGUG;B<DdI;GC ;D IC^RBFDEFRCI= *K ;DNBKBFBWIS KG< DKEGKFCIUG< EGK RKI NBVRCI <RUIUDKFD EGUTHDZI:TBKFGCS D<ERHFGCS IC^RBFDEFGS TGHBECGUI;GC Q D<FGNI;GC ;D BU\VDKD<S ;D FIHHI<S ;D CDFIYHG<SFI<IEBGKD<S BK<TDEEBGKD< Q TDCBFIZD<S THIKG< Q ;BYRZG< IC^RBFDEFLKBEG<>S IRK^RDS HG U\<TCGYIYHDS D< ̂ RD D<FI NDYCBH IEFBWB;I; D<FRWBDCI CD<TIH;I;I TGC RK IEFBWG FIHHDCS ;GK;D <R<;B<FBKFG< GNBEBIHD< Q ITCDK;BED< <DCMIK HG< DKEICVI;G< ;D UIFDCBIHBbIC UREaI< ;D HI< HIYGCD<^RD <D HD IFCBYRQDK I <R TDC<GKI=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$Ai

)D <R TCG;REEBLK <DdIHICDUG< HI< FCD< UIVKMNBEI< FIYHI< EGK<DCWI;I< DK DH .R<DG,IEBGKIH ;D ._cBEG :.8,'+> ;D;BEI;I< I #IKFI 0DEBHBIS I HI #IVCI;I 2IUBHBI EGK#IK eRIKBFG Q IH .ICFBCBG ;D #IK +GCDKbG= 0GK<FBFRQDK HG UDZGC ;DH UIKBDCB<UGKGWGaB<TIKGS ZRKFG I HI FIYHI ;D HG< 0BKEG #DdGCD< G HI #IKFI 3ICDKFDHI :0IFD;CIH ;D._cBEG>S ;D EHICI I<EDK;DKEBI CINIDHD<EI Q HI OBCVDK ;DH &G<ICBG ;D $HIaRIE= 3GCkHFBUGS ;D <R IUTHBI TCG;REEBLK TICI <R< CDFIYHG< ;D HI .BcFDEI ;D<FIEICDUG<5 DK0GBcFHIaRIEI HI 'KRKEBIEBLKS HI ';GCIEBLK ;D HG< &DQD< .IVG< Q ;D HG< TI<FGCD<S I<M EGUG HG< ITL<FGHD< ;DH YIKEGS ;D UGWB;I< IEFBFR;D<= *K 1IKaRBFH\KS ITICFD ;D HIOBCVDK ;DH &G<ICBGS ;D Dc^RB<BFI NBKRCI EGUG HI ;D $HIaRIES IRK^RD I^RM D<F\K HG<;GKIKFD< ^RD <GK WDC;I;DCG< CDFCIFG<S DH eRBEBG 2BKIHS EGK DEG< UBVRDHIKVRDHD<EG<S QDH )D<EDK;BUBDKFG ;D HI ECRbS ^RD KG< DWGEIK DH ;D 3D;CG ;D 0IUTIdI ;D HI <IECB<FMI;D HI EIFD;CIH ;D #DWBHHI= *K EIUYBGS HI< ;D $IUIbRHITIKS DK HMKDI< VDKDCIHD< <GK ;DBKNDCBGC EIHB;I; Q DK VCIK UD;B;I GYCI< ;D FIHHDC=

eRKFG I D<FG< ;G< VCIK;D< UID<FCG< UDKEBGKICDUG< GFCG< ;G<S FG;IWMI TGEG EGKGXEB;G< Q ;GERUDKFI;G<= #D FCIFI ;DH FGHD;IKG 2CIKEB<EG ;D .GCIHD<S ^RBDK ITICDEDaIEBI fAi@S DK .BEaGIE\KS FCIYIZIK;G EGK 3DCDQK<S IRK^RD IH NBKIH HG ;DKRKEBICMI IH#IKFG %NBEBG= 2RD DH IRFGCS ZRKFG I GFCG< ICFB<FI<S ;DH ;D<ITICDEB;G CDFIYHG ;DH EGKWDKXFG IVR<FBKG ;D 1RCBCBITkK;ICGS ;DH ^RD DK DH .R<DG ;DH OBCCDBKIFG <D EGK<DCWI RKI"KUIERHI;IS CG;DI;I ;D IKVDHBFG< Q ;D FGCTD NIEFRCI= *K DH EI<G ;D <R TIB<IKG 'HGK<G2CIKEG <D D<FIYHDED DK ._cBEG IH NCIEI<IC RKI DUYIZI;I ^RD TGC DKEICVG CDIH BYI I0aBKI= '<GEBI;G DK IHVRKI< GEI<BGKD< EGK 2CIKEB<EG ;D 9RUIQI Q -IHFI<IC ;D *EaIXWD %CBGS <D WBKERHL HIYGCIHUDKFD I HG< ;GUBKBEG<S DK D<TDEBIH TICI HI BVHD<BI WBDZI ;D HIEITBFIH WBCCDBKIH= )D HG TGEG EGK<DCWI;G Q ;GERUDKFI;G <GYCD<IHD HI rHFBUI 0DKIS DK$DcEGEGS RK UICFBCBG ;D #IK #DYI<FB\K Q ;D #IK 3D;CG DK HI EIFD;CIH ;D ._cBEGSUBDKFCI< DK HI BVHD<BI KRDWI #IKFG )GUBKVG <D HD IFCBYRQD RKI 3BD;I;=

p=?= +I <DVRK;I 7DKDCIEBLK

#D FCIFI ;D RKI <DCBD ;D ICFB<FI< ^RD EGK<FBFRBCMIK RKI <DVRK;I VDKDCIEBLK= %CBRKX;G< ;D *<TIdIS <R TCG;REEBLK TCD<DKFI RKI <DCBD ;D CI<VG< ;BNMEBHD< ;D DcTHBEICS ITICFBC ;D RK ITCDK;BbIZD DKFDCIUDKFD aB<TIKGS TRD< ITICDEDK IHVRKG< DHDUDKFG< IRXFLEFGKG< ;DH \UYBFG UDcBEIKG= *KFCD DHHG< ;D<FIEIUG< I 'HGK<G O\b^RDbS -IHFI<IC ;D*EaIWD %CBG Q 3D;CG ;D 8CCkD=

'HGK<G O\b^RDbS KIFRCIH ;D &GK;IS <D NGCUL DK 0LC;GYI EGK 3IYHG ;D 0_<TD;D<Q 0_<IC 'CYI<BIS I ^RBDKD< ;DYD <R INBEBLK TGC HG< ERDCTG< UR<ERHG<G<= 0GK 3IEaDEGS^RBDK KG< BKNGCUI ^RD NRD RK YRDK YG;DVGKB<FIS CDIHBbL HI <DCBD ;D HI WB;I ;D #IK3D;CG ,GHI<EG TICI DH EGKWDKFG ;D HI .DCED; ;D #DWBHHI= -RDK ;BYRZIKFDS EGHGCB<FI QIUBVG ;D HG< D<EGCbG<S EGUTGKD <IYBIUDKFDS IRK^RD HI< WD<FB;RCI< ;D <R< NBVRCI<CD<RHFIK ICFBNBEBG<I<= +HDVI I ,RDWI *<TIdI I EGUBDKbG< ;DH #DB<EBDKFG< DK DH <_^RBFG;DH .IC^R_< ;D .GKFD<EHICG<S NIHHDEBDK;G TCGKFGS TGC HG ^RD <R GYCI KG <DCMI URQDcFDK<IS <B YBDK VGbL ;D RK DKGCUD TCD<FBVBG TGC <R VCIK TCDTICIEBLK FDLCBEI= )DDKFCD <R GYCI FDKDUG< RKI <DCBD ;D ERI;CG< ;D HI OBCVDK EGK DH ,BdGS URQ DHDVIKFDXUDKFD EGUTRD<FG<S EGUG HI OBCVDK ;D HI< RWI< :EGHDEEBLK TICFBERHIC>= *H .R<DG ,IXEBGKIH ;D !B<FGCBI ;D ._cBEG VRIC;I ;D D<FD TBKFGC RK .ICFBCBG ;D #IK !BTLHBFG=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# As

',)&/# )* +' 0%,0!'= #',$' 0*0"+"'= .8,'+S ./`"0% )=2==

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$Aj

*<FD HBUBFI;G EGKZRKFG ;D GYCI< <D EGKFCITGKD EGK HI DcFDK= *< U\<S DH TCD<FBVBG Q NIUI ^RDIHEIKbL DK <R _TGEI aBbG ^RDS BVKGCIK;G FG;G HG IKFDCBGCS DK IHVkK UGUDKFGS NRDCIFDKB;GS TGC EIYDbI ;D HI D<ERDHI ;D TBKFRCI KGWGaB<TIKI= ,IEB;G DK 9RUIQI :7RBXTkbEGI>S aIEBI fAAjS TICI fAj@ QI D<FIYI DK ._cBEGS TGC HG ^RD BVKGCIUG< ;GK;D <DNGCUL IRK^RD <R YIVIZD Q CDTDCFGCBG ICFM<FBEG D< UREaG U\< IUTHBG ^RD DH ;D <R<EGKFDUTGC\KDG<= #BK ;R;IS <R NGCUIEBLK D<TIdGHI HI EGUTHDFICMI EGK 2CIKEB<EG 9RXUIQI v<R NRFRCG <RDVCGS TRD< EI<L EGK <R aBZI "<IYDHv= )G< ;D <R< aBZG<S -IHFI<IC Q.IKRDHS aDCD;ICMIK <R GNBEBGS U\< KG <R EIHB;I;S TRD< HI GYCI ;DH TI;CD <D ;B<FBKVRDTGC <R CDNBKI;G UIKBDCB<UG BFIHBIKGS ;DKFCG ;D RKI <D^RD;I; ;D BK;R;IYHD CIBVIUYCDaB<T\KBEI=

'CFB<FI URQ TCGHMNBEGS DK HI< ;_EI;I< I EIYIHHG DKFCD DH ^RBKBDKFG< Q DH <DB<EBDKFG<CDIHBbL HI< TBKFRCI< ;D HG< CDFIYHG< ;D HI BVHD<BI NCIKEB<EIKI ;D $HIFDHGHEG Q ;D HI3CGND<I v;D HI 0GUTIdMI ;D eD<k<vS ;D 0BR;I; ;D ._cBEGS IU_K ;D GFCG< UREaG<DKEICVG< <RDHFG<= 0GK <R <RDVCG aBbG WICBG< CDFIYHG< TICI 3RDYHI vTICI HI TCBUDCIEIFD;CIH Q TICI HI BVHD<BI ;D #IK .BVRDHS DFEv= #D HD IFCBYRQDK HI< FIYHI< ;DH VCIKCDFIYHG NCIKEB<EIKG ;D `GEaBUBHEGS ;D;BEI;I< I HI WB;I ;D 0CB<FGS I<M EGUG HI< TCGEDX;DKFD< ;DH CDFIYHG ;D $HIUIKIHEG=

3GC NGCFRKI DH .RKIH VRIC;I RK YRDK KkUDCG ;D TBKFRCI<= '<MS TCGED;DKFD< ;D HG<CDFIYHG< ;D $HIFDHGHEG5 +I 'KRKEBIEBLKS HI OB<BFIEBLK Q HI 3GCEBkKERHIl ;DH ;D<ITICDEBX;G CDFIYHG UIQGC ;D HI 3CGND<I5 HI *TBNIKMI Q HI DcEDTEBGKIH %CIEBLK DK DH !RDCFGS ;DRKI DKGCUD CDTDCER<BLK TG<FDCBGC= )D D<FI BVHD<BI ZD<RMFBEI WBDKDK HG< CDFLCBEG< UICFBXCBG< ;D #IK 'TCGKBIUG Q #IK 3GKEBIKG= 3GC kHFBUGS TGC <R VCIK EIHB;I;S EBFICDUG<5 HI&D<RCCDEEBLK Q HI *<FBVUIFBbIEBLK ;D #IK 2CIKEB<EGS ;DH .R<DG ;D 7RI;IHIZICI=

eRIK ;D 'CCkD D< DH TCBUDC TBKFGC KIFRCIH ;D ._cBEGS IRK^RD <R TCGVDKBFGC DCI<DWBHHIKG= )B<EMTRHGS FIH WDbS EGK 3DCDQK<S FCIYIZL DK IHVRKG< NCD<EG< ;DH !G<TBFIH;D eD<k<S I<M EGUG DK WICBG< CDFIYHG< TICI HG< ;GUBKBEG< DK DH *<FI;G ;D %IcIEIvIEIYL DH CDFIYHG UIQGC ;D #IKFG )GUBKVGS BKBEBI;G TGC '= ;D HI 0GKEaIv= *K3RDYHI FCIYIZL TICI DH EIYBH;G EIFD;CIHBEBG vCDFIYHG< TICI HI TCBUDCI EIFD;CIHvS QDK 0BR;I; ;D ._cBEG vCDFIYHG UIQGC ;D HI "VHD<BI ;D #IK eDCLKBUGS ZRKFG EGK7I<TIC ;D 'KVRHGv=

2BKIHUDKFDS KG ;DYDUG< GHWB;IC HI DKGCUD BKNHRDKEBI ^RD DK D<FD TDCBG;G FRWG HIGYCI BUTGCFI;I Q <GYCD FG;G HI ;BNR<BLK ;D HG< VCIYI;G< ;DH TBKFGC NHIUDKEG .ICFMK;DH OG<= ,IEB;G DK 'UYDCD<S CD<B;BL IHVkK FBDUTG DK "FIHBIS FCIYIZIK;G EGK $BKFGCDFFGSTGC HG ^RD DK <R GYCI <D aDCUIKIK HI< NGCUI< NHIUDKEI<S WDKDEBIKI< Q CGUIKB<FI<= )D<R< UREaG< ERI;CG< <GYCD<IHDK $GYMI< Q DH ICE\KVDH #IK &INIDH ;D HI EITBHHI ;D,RD<FCI #DdGCI ;D HI< 'KVR<FBI< ;D 7CIKI;IS DK HI 0IFD;CIH ;D ._cBEGS DH #IK eRIKQ DH 'TGEIHBT<B< DK DH .R<DG ,IEBGKIH ;DH OBCCDBKIFG ;D $DTGFbGFH\KS I<M EGUG HI<<GCTCDK;DKFD< FIYHI< ;D;BEI;I< I #IK 3D;CGS #IK 3IYHG Q I HI "KUIERHI;I 0GKEDTXEBLK ;D HI HGEIHB;I; ;D 0RIRaFBFH\K=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# Ag

-'+$'#'& *0!'O* %&"%= +' %&'0"J, *, *+ !8*&$% = .8,'+S ./`"0% )=2==

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$i@

p=p= +I kHFBUI 7CIK 7DKDCIEBLK .IKBDCB<FI

!I<FI aIED TGEGS HI< ;_EI;I< I EIYIHHG< DKFCD HG< <BVHG< `O" Q `O"" vEI<B aI<FI HIHHDVI;I ;D #DYI<FB\K +LTDb ;D 'CFDIVIS DK fih@vS DCIK FDKB;I<S BKZR<FIUDKFDS TGCTGEG KGWD;G<I<= 1 D< ^RD D<FD TDCBG;G <D aI D<FR;BI;G <RTDCNBEBIHUDKFD QS DK EGK<DXERDKEBIS KG <D aI WIHGCI;G DH YRDK aIEDC ;D RKI <DCBD ;D ICFB<FI< ^RDS DK ;DNBKBFBWISNRDCGK HG< ^RD CDIHBbICGK HI FCIK<BEBLK ;DH UIKBDCB<UG IH YICCGEG= ';DU\<S D<FD VCRTG;D TBKFGCD<S DK TICFD QI IRFLEFGKG<S DUTBDbIK I <DKFBC HI aB<FGCBI ;D HI ,RDWI *<TIdIEGUG IHVG TCGTBG= *< ;DEBCS QI FBDKDK EGKEBDKEBI ;D ^RDS ERHFRCIH Q D<TBCBFRIHUDKFDS<GK IHVG ;BNDCDKFD< IH D<TIdGH ;D HI 3DKMK<RHIS HG ^RD BKNHRBC\ DK DH EIUTG ;DH ICFD QDK HI EGKNGCUIEBLK ;D RKI <DCBD ;D EICIEFDCM<FBEI< ^RD ;DNBKBC\K HI TBKFRCI YICCGEIKGWGaB<TIKI=

+I TCBUDCI NBVRCI I ;D<FIEIC D< +RB< `R\CDb= 'EFBWG DKFCD fi@g Q fipgS DH aDEaG;D ^RD DK IHVRKI< GEI<BGKD< NBCUD <R< GYCI< EGUG +RB< eR\CDb ;D 'HEIR;DFD KG<HHDWI I TDK<IC ^RD TCGED;I ;D D<FI HGEIHB;I; ZBDKKDK<D= )B<EMTRHG FIH WDb ;D 'HGK<GO\b^RDb Q ;D *EaIWD %CBGS <R DcTCD<BLK ICFM<FBEI D< QI EHICIUDKFD HI ;D RK TBKFGCKGWGaB<TIKG aI<FI DH TRKFG ^RD <D HD EGK<B;DCI RKG ;D HG< UDZGCD< ERHFBWI;GCD< ;DD<I <RIWB;I; Q IUIYBHB;I; FIK TCBWIFBWI ;D HI TBKFRCI ;DH ._cBEG OBCCDBKIHS ;D<DUTDXdIK;GS I;DU\<S RK TITDH EHIWD DK HI NBZIEBLK Q ;BWRHVIEBLK ;D FDUI< Q UGFBWG< BEGKGXVC\NBEG<=

'CFB<FI URQ TCGHMNBEGS NRD GCBVDK ;D RKI <BVKBNBEIFBWI ;BKI<FMI ;D TBKFGCD<S ^RDERHUBKIC\S I NBKIHD< ;DH #DB<EBDKFG< Q TCBUDC FDCEBG ;DH #DFDEBDKFG<S EGK <R< YB<KBDFG<,BEGH\< Q eRIK &G;CMVRDb eR\CDb= *K <R TCG;REEBLKS URQ ;B<TDC<I TGC UR<DG< DBVHD<BI<S DK VDKDCIHS <D TRD;D I;WDCFBC RKI VCIK KGYHDbIS <BKEDCB;I; Q Dc^RB<BFG CDIHB<XUGS I WDED< NIHFG ;D NRDCbI Q TCGNRK;B;I;S TGC HG ^RD CD<RHFI IHVG UGKLFGKGS IRK^RD<BDUTCD EGK RK VCIK ;DEGCG= 0GUG GYCI< I <DdIHIC FDKDUG<5 HI %CIEBLK DK DH aRDCFGvURQ TCLcBUI BEGKGVC\NBEIUDKFD I HI ;D *EaIWD %CBGvS HG< )D<TG<GCBG< .M<FBEG<;D #IKFI 0IFIHBKIS HI< FIYHI< ;D #IK .BVRDH Q DH 4KVDH ;D HI 7RIC;I vI^RM KG< ;DZIRKG ;D HG< U\< DKEIKFI;GCD< CDFCIFG< BKNIKFBHD< ;DH UGUDKFGvS G HI BUTG<BEBLK ;D HIEI<RHHI I #IK "H;DNGK<GS FG;G< DK DH .RKIH= *K DH .R<DG ;D qRDC_FICG FDKDUG< WICBG<ERI;CG< ;D<FIEIK;G TGC <R UGKRUDKFIHB;I; Q WIHDKFMI HI '<RKEBLK ;D 0CB<FG Q DK HI3ICCG^RBI ;D 'FHBcEG HG< )D<TG<GCBG< ;D HI OBCVDK=

-IHFI<IC ;D *EaIWD "YMIS aBZG ;D *EaIWD %CBG Q TI;CDS I <R WDbS ;D *EaIWD &BGZISIkK aGQS D< YI<FIKFD ;D<EGKGEB;GS IH ^RD;IC DK<GUYCDEB;G DKFCD HI IWI<IHHI;GCINBVRCI ;DH TI;CD Q DH ICFD VCIK;BHGERDKFD Q ;CIU\FBEG ;DH aBZG= 'CFB<FI DEH_EFBEG TGCDcEDHDKEBIS DK <R ICFD FBDKD EIYB;I FIKFG DH FCIbG NBCUD Q EGCCDEFG EGUG HI TBKEDHI;I;D<DKNI;I;IS DH BKFDC_< TGC HG TD^RDdG Q HI DHBUBKIEBLK ;D HG IEED<GCBG= *K <R D<EI<IGYCI EGKGEB;I ;GUBKIK HG< IUTHBG< TIB<IZD< Q DH EGHGC IbRHS ;D IaM ^RD aIQI <B;GHHIUI;G [*EaIWD DH ;D HG< IbRHD<]= 0GUG FCIYIZG< <BVKBNBEIFBWG< <DdIHICDUG<5 DK DH.RKIH ;G< WDC<BGKD< ;D HI "KUIERHI;IS RKI 0GKWDC<IEBLK ;D #IK 3IYHG Q #IK 'KFGXKBG DCUBFIdG<S HG< ERIFCG DWIKVDHB<FI< vDcEDTFG #IK .IFDG ^RD <D DKERDKFCI DK DH.R<DG ;D qRDC_FICGv Q DH UIVKMNBEG CDFCIFG ;D RKI )IUIS EGK <R< UIVB<FCIHD< WDHIX;RCI<S Q DK DH .R<DG ;D HI -I<MHBEI ;D 7RI;IHRTD RK aDCUG<G HBDKbG ;D;BEI;G I #IK2CIKEB<EG ;D 3IRHI Q ;G< H\UBKI< ;D FDUI UICBIKG vHI 'KRKEBIEBLK Q HI OB<BFIEBLKvIFCBYRB;I< aI<FI aIED TGEG I 'HGK<G O\b^RDbv=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# if

+8"# `84&*9= *+ 4,7*+ )* +' 78'&)'= .8,'+S ./`"0% )=2==



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$i?

-'+$'#'& )* *0!'O* "-6'= &*$&'$% )* 8,' )'.'= .8,'+S ./`"0% )=2==

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ip

'HGK<G +LTDb ;D !DCCDCI D< RKG ;D HG< ICFB<FI< U\< <GCTCDK;DKFD< Q KG <LHG ;DD<FD TDCBG;G <BKG ;D FG;I HI _TGEI WBCCDBKIHS TRD< DK _H <D EGUYBKI FIKFG HI NRDCbI QEIHB;I; ;D <R ;BYRZG vTGC HG ^RD NRD HHIUI;G [DH ;BWBKG !DCCDCI]v Q HI YCBHHIKFDb;D <R EGHGCB;G EGK HG TD<I;G Q ICEIBEG ;D HI< FDHI< ;D IHVRKG< ;D <R< TDC<GKIZD<='RFGC ;D VCIK;D< ERI;CG< FBDKD HI WBCFR; ;D CDECDIC<D DK HG< U\< UMKBUG< ;DFIHHD<=

%CBRK;G ;D OIHHI;GHB;S HHDVI I ._cBEGS DK fi@jS DK DH <_^RBFG ;D <R TCGFDEFGCS DHICbGYB<TG 7ICEMI 7RDCCIS ERQG UIVB<FCIH CDFCIFG KG< ;I RKI B;DI ;D <R< VCIK;D< ;GFD<EGUG CDFCIFB<FI= 'CFB<FI ;D KDFI NGCUIEBLK aB<TIKI <RTG I;ITFIC<D I HG< VR<FG< QUG;I< BUTDCIKFD< DK DH WBCCDBKIFGS ;D<FIEI;G FIUYB_K EGUG ;GCI;GC Q D<FGNI;GC DK HIEITBHHI ;DH &G<ICBG ;D #IKFG )GUBKVG ;D 0BR;I; ;D ._cBEG= *K fi?AS TCGND<L EGUG;GUBKBEGS <BDK;G ;D<FBKI;G IH EGKWDKFG ;D 9IEIFDEI<S ;GK;D TDCUIKDEBL aI<FI <RURDCFD DK fih?S vDKFCDUD;BI< ;DYBL D<FIC EI<I;GS TRD< RKI aBZI <RQI TCGND<L DK DH0GKWDKFG ;D &DVBKI 0GDHBv= 'H aIEDC<D CDHBVBG<G Q IH CD<B;BC DK HI HDZIKI 9IEIFDEI<<D ;D<EGKDEFL YI<FIKFD ;DH IUYBDKFD ICFM<FBEG ;D <R _TGEIS TGC HG ^RD <R TCG;REEBLKD< D<EI<IS IRK^RD ;D VCIK EIHB;I;S <GYCD FG;G DK <R TCBUDCI _TGEI= +I &D<RCCDEEBLKQ HI '<RKEBLK :;DH .RKIH>S FIH WDb CD<FG< ;DH TCBUBFBWG CDFIYHG ;D #IKFG )GUBKVGS ZRKFG EGK HI "UTG<BEBLK ;D HI EI<RHHI I #IK "H;DNGK<G <GK GYCI< URQ DHGERDKFD< ;D <RYRDK FCIYIZG= *K RKI EGHDEEBLK TCBWI;I ;D 3RDYHI <D EGK<DCWI RK D<TH_K;B;G ERI;CGEGK #IK 'VR<FMK Q #IKFG )GUBKVG DK EI;I RKI ;D <R< EICI<= #D EGKGEDK WICBI<WDC<BGKD< ;D HI #IKFI 2IbS FDUI TRD<FG ;D UG;I TGC HI TBD;I; TG<FCDKFBKIS EGUG HI;DH .R<DG ,IEBGKIH ;DH OBCCDBKIFGS URQ <BUBHIC I HI ;DH IHFIC ;DH 3DC;LK ;D HI 0IFD;CIH;D ._cBEGS TDC;B;I DK DH BKEDK;BG ;D fgis=

%FCG< ICFB<FI< UDKG< EGKGEB;G<S IRK^RD D<DKEBIHD< TICI EGKGEDC DK <R EIYIH ;BXUDK<BLK HI D<ERDHI ;D TBKFRCI KGWGaB<TIKIS <GK 7I<TIC ;D 'KVRHG Q -I<BHBG ;D#IHIbIC= *H TCBUDCGS ;D GCBVDK WIHHB<GHDFIKGS D<F\ QI DK ._cBEG aIEBI fi?f EGHIYGCIKX;G EGK eRIK ;D 'CCkD DK DH FkURHG NRKDCICBG ;D 2DHBTD """= $IUYB_K EGK _H FCIYIZICMIDK DH ;D<ITICDEB;G CDFIYHG UIQGC ;D HI BVHD<BI ;D #IK eDCLKBUG= +I IR<FDCB;I; Q<D^RD;I; ;D HI TBKFRCI EI<FDHHIKI D<F\ TCD<DKFD DK <R #IK 3D;CG GCIK;G IKFD 0CB<FGI HI EGHRUKIS ;D HI TICCG^RBI ;D 0RHaRIE\KS ;D HG UDZGC ;D <R TCG;REEBLK= *H <DVRKX;G VGbL ;D VCIK NIUIS D<TDEBIHUDKFD DKFCD HG< NCIKEB<EIKG<S ^RD HD DKEGUDK;ICGK DHTDC;B;G CDFIYHG UIQGC ;D <R BVHD<BI EGKWDKFRIH ;D ._cBEG= #R< ;GFD< EGUG CDFCIFB<FI<D TGKDK ;D UIKBNBD<FG DK DH ;DH ICbGYB<TG eRIK 3_CDb ;D HI #DCKIS UBDKFCI< ^RD <R;GUBKBG ;D HI IHDVGCMI ^RD;I TIFDKFD DK HI *cIHFIEBLK NCIKEB<EIKI ;D HI "KUIERHI;I0GKEDTEBLKS ;D fipsS DK DH .R<DG ;D qRDC_FICG= ,G ^RD;I I^RM HI KLUBKI ;D ICFB<XFI<S TRD<S DK ;DNBKBFBWIS IRK ^RD;I UREaG TGC aIEDCS IFCBYREBGKD< ^RD EGKNBCUIC RGFCG< VCIK;D< EGKZRKFG< TBEFLCBEG< ^RD ;GERUDKFIC=

h= *#08+$8&' 1 &*$'-+%#

0GUG I;DHIKFIUG<S FIUYB_K HI D<ERHFRCIS ;D<;D HG< EGUBDKbG<S ZRVL RK TITDH IRcBXHBIC EHIWD DK HI HIYGC DWIKVDHBbI;GCI ;D HG< CDHBVBG<G<= "KEHR<GS DK RK TCBKEBTBG NRDTCDNDCB;I EGK CD<TDEFG I HI TBKFRCIS ;I;G ^RD TGC <R U\< N\EBH EGUTCDK<BLK HHDVIYIUDZGC IH BK;MVDKIS R<RIHUDKFD IEG<FRUYCI;G I WDC TDC<GKBNBEI;G< <R< ;BG<D< TCDaB<T\XKBEG<=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# iA

$CIYIZI;I< DK UI;DCIS TBD;CI Q <GYCD FG;G DK TI<FI ;D UIMbS UIFDCBIH Q F_EKBEIIRFLEFGKI ^RD <DC\ HI TCDNDCB;I TICI HI BUIVDK ;D YRHFG CD;GK;G ;D FBTG ;DWGEBGKIHSERYCBC\K URHFBFR; ;D NIEaI;I<S CDFIYHG< ;D BVHD<BI< Q EITBHHI<= ';DU\<S HG< BK;MVDKI<S IHG< ^RD HI< TCBUDCI< GC;DKIKbI< ;DH VCDUBGS ;D fAijS ^RD BKEHRMI I EICTBKFDCG<S DKFIXHHI;GCD<S DK<IUYHI;GCD< Q WBGHDCG<S ;IYIK HBYDCFI; ;D IEFRIEBLKS TG<DMIK VCIK aIYBHBX;I; TICI FCIYIZIC HI TBD;CIS TD<D I ^RD <R< aDCCIUBDKFI< DCIK URQ CR;BUDKFICBI<S TRD<DK DH URK;G TCDaB<T\KBEG KG <D EGKGEMI DH aBDCCG= #DCMIS ;D KRDWGS DK HG< EGKWDKFG<S;GK;D <D HD< DK<DdICMI I RFBHBbIC HI< F_EKBEI< DRCGTDI<S I<M EGUG I EGTBIC HG< UG;DHG<I TICFBC ;D HI< D<FIUTI< Q VCIYI;G< ^RD HD< TCGTGCEBGKIYIK HG< NCIBHD< Q ^RD TGEG ITGEG NRDCGK I<BUBHIK;G= '<M TRD<S I^RM FIUYB_K aIYC\ RK TCD;GUBKBG EI<B FGFIH ;D HIFDU\FBEI CDHBVBG<I= #GK URQ D<EI<G< HG< DZDUTHG< ;D D<ERHFRCI NRKDCICBIS CDFCIFG GUBFGHLVBEIS <IHWG HI< ;D<FBKI;I< I I^RDHHI< IC^RBFDEFRCI< DNMUDCI<S EGUG ICEG< ;D FCBRKNGHDWIKFI;G< EGK HI HHDVI;I ;D IHVkK WBCCDQ G FkURHG< NRKDCICBG<= #LHG IH NBKIH ;DHTDCBG;G WBCCDBKIH KG< DKEGKFCICDUG< I;GCKIK;G NRDKFD< Q ZIC;BKD< EGK FDUI< IHDVLCBXEG< Q UBFGHLVBEG<=

0ICIEFDCM<FBEI EGUkK I FG;I HI D<ERHFRCI <DC\ DH EGK<FIKFD IKGKBUIFGS NCDKFD IHG ^RD <RED;DS TGC DZDUTHGS EGK HI TBKFRCI= *HHG KG< ZR<FBNBEIS I;DU\<S HI D<EI<I EGK<BX;DCIEBLK ICFM<FBEI ^RD <GEBIHUDKFD FBDKD FIKFG HI GYCI EGUG <R IRFGCS TRD<S EGUGWDMIUG< IH TCBKEBTBGS DH D<ERHFGC Q <R GYCI KG D< U\< ^RD TICFD BKFDVCIKFD ;D RKEGUTHDZG <B<FDUI ;D TCG;REEBLK ;D GYCI< TGCFI;GCI< ;D WIHGCD< CDHBVBG<G<S ;D IaM ^RDSBKEHR<GS TI<I;G DH FBDUTG <D TRD;I BKFDCWDKBC DK DHHI IHFDCIK;GS ;DEB;B;IUDKFDS <REGKNGCUIEBLK TCBUBVDKBIS I NBK ;D I;ITFICHI I HG< KRDWG< B;DIHD< CDHBVBG<G< BUTDCIKXFD<= *K EGK<DERDKEBIS DK DH <B<FDUI ;D TCG;REEBLK <D BUTGK;C\ DH ICFB<FIXDUTCD<ICBGS;RDdG ;D RK VCIK FIHHDCS BKFDVCI;G TGC KRUDCG<G< UBDUYCG< D<TDEBIHB<FI< DK EI;I RKI;D HI< CIUI< ;D HI< ICFD< TH\<FBEI< vD<ERHFGCD<S TBKFGCD<S DKFIHHI;GCD<S ;GCI;GCD<S DKX<IUYHI;GCD<v EITIb ;D IYI<FDEDC Q CD<TGK;DC I HI VCIK ;DUIK;I ;D YBDKD< ^RD <D HD<GHBEBFDK= '<MS TGC DZDUTHGS RKG ;D DHHG< <DCMI DH ^RDS DK DH kHFBUG FDCEBG ;DH qRBKBDKFG<SECDICMI DH TBKFGC 'K;C_< ;D HI 0GKEaI DK %IcIEI vD< WDC;I; ^RD NRD RK ICFB<FI URQTGHBNIE_FBEGS UI<S DK kHFBUI BK<FIKEBIS <BK EGKFIC EGK HI IQR;I ;D RK EGUTHDZG Q IEFBWGFIHHDC D< BUTG<BYHD ^RD TR;BDCI IEGUDFDC HI VCIK EIKFB;I; ;D CDFIYHG< EGUG HHDWL IEIYG DK DH \CDI ;D HI .BcFDEIv=

*H CDFIYHG D<S <BK ;R;IS RKI ;D HI< UIKBND<FIEBGKD< ICFM<FBEI< U\< EGUTHDFI< DKFIKFG DK ERIKFG DK _H <D aDCUIKIK HI IC^RBFDEFRCIS HI D<ERHFRCI Q HI TBKFRCIS DcBVBDK;GSTGC FIKFGS RKI IUTHBI EGHIYGCIEBLK= .IKBND<FIEBLK KDFIUDKFD D<TIdGHI Q TGC DK;DaB<TIKGIUDCBEIKIS IH BVRIH ^RD I^RM DH CDFIYHG UIQGC |G ;DH TCD<YBFDCBGvS ^RD D< DHTCBKEBTIHS FDKMI HI UB<BLK Y\<BEI ;D UG<FCICS HG U\< NI<FRG<IUDKFD TG<BYHDS I HG< NBDHD<HG< UGUDKFG< NRK;IUDKFIHD< ;D HI WB;I Q GYCI ;D 0CB<FGS CIbLK ;D <R ND= +I TCGHBNDCIXEBLK ;D CDFIYHG< DK HI ,RDWI *<TIdIS ;D<;D HG< UB<UG< EGUBDKbG< ;D HI DWIKVDHBbIXEBLKS D< IHVG BKERD<FBGKIYHDS <B YBDK HG< ^RD KG< aIK HHDVI;G I HI IEFRIHB;I; <GK RKUMKBUI TICFD= OICBI< CIbGKD< TRD;DK ZR<FBNBEIC D<FD aDEaG= 8KI ;D HI< TCBKEBTIHD<D<FICMI DK DH aDEaG ;D ^RD I TICFBC ;D NBKIHD< ;DH qRBKBDKFG< DH EHDCG CDVRHIC ;D HG<EGKWDKFG< TBDC;D UREaI< ;D <R< EGUTDFDKEBI< DK NIWGC ;D HI< TICCG^RBI< Q ;DH EHDCG<DERHICS TGC HG ^RD UREaG< ;D<ITICDEDK G HIKVRB;DEDK= #BK DUYICVGS U\< CDTDCER<BLKFDK;CMI DH TCGVCD<BWG DKCB^RDEBUBDKFG ;D HI <GEBD;I; KGWGaB<TIKIS HG ^RD HHDWLS ;D<X;D UD;BI;G< ;DH #DB<EBDKFG<S I ^RD HG< TCBUDCG< CDFIYHG< <D WBDCIK EGUG TD^RDdG< D

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ii

BK<BVKBNBEIKFD<S ;DEB;BDK;G <R<FBFRBCHG< TGC GFCG< ;D UIQGCD< TCDFDK<BGKD<= 'RK^RD <RBUIVBKDCMI <D <GHMI CDRFBHBbICS <D CDFGEIYI I NBK ;D I;ITFICHI IH KRDWG CDFIYHG DS BKEHR<GS<D WGHWMI I D<FGNIC ;D KRDWGS HG ^RD ;BNBERHFI <R D<FR;BG=

h=f= 3CBKEBTIHD< UIKBND<FIEBGKD<

+I< TCBUDCI< UIKBND<FIEBGKD< D<ERHFLCBEI< FBDKDK EGUG UIFDCBIHD< U\< NCDERDKFD<HI TBD;CI :D<TDEBIHUDKFD TICI TGCFI;I< ;D BVHD<BI< Q EITBHHI<S ECRED< IFCBIHD<S TBHI<YIRFB<UIHD<S NRDKFD<S DFE=>S HI UI;DCI Q HI TI<FI ;D UIMb :IUYI<S D<FGNI;I< Q TGHBECGXUI;I<S TICI CDFIYHG< G BU\VDKD< ;D ;DWGEBLK IB<HI;I<>= *K DH TCBUDC EI<GS TCBUI HIUIKG ;D GYCI BK;MVDKI NCDKFD I HI aB<TIKIS TGC HG ^RD TDCWBWBC\K IHVRKG< CI<VG<TCDaB<T\KBEG<= 7DKDCIHUDKFD <GK CDHBDWD< EGK RKI< EICIEFDCM<FBEI< URQ TICFBERHICD<='<MS TGC DZDUTHGS WIK FIHHI;G< EGK TGEI TCGNRK;B;I;S EGK RK VCG<GC URQ aGUGV_XKDG Q EGK TDCNBHD< IKVRHG<G<S TCD<DKFIK;G HG< CG<FCG< RKI VCIK BKVDKRB;I;= +G<CDHBDWD< ^RD I;GCKIK HI< EITBHHI< TG<I< ;D HG< EGKWDKFG< NCIKEB<EIKG< ;D 0IHTIK G!RDZGFbBKVGS HI TGCFI;I HIFDCIH ;DH EGKWDKFG ;D !RI^RDEaRHIS HI EITBHHI IYBDCFI ;D$HIUIKIHEGS I<M EGUG HI ECRb IFCBIH ;D 'FbIEGIHEGS <GK DZDUTHG< ;D HG ^RD IEIYIUG<;D ;DEBC= )D<FIEIC GFCG< EI<G< URQ <BKVRHICD<S EGUG HI< TGCFI;I< ;D 'EGHUIK G1RCBCBITkK;ICG= +I UGKRUDKFIHB;I; ;D HI< NBVRCI<S ;D <RIWD FIHHI Q ;DHBEI;G< WGHkXUDKD<S KG <D ZR<FBNBEI <BK HI TCD<DKEBI ;D RK ICFB<FI D<TIdGH vDK DH TCBUDC EI<G ;D0HIR;BG ;D 'CEBKBDVIvS <BK DHBUBKICS HI TCD<DKEBI DK YI<FIKFD< ;DFIHHD< ;D HI UIKG;D GYCI IRFLEFGKI=

3GC HG ^RD CD<TDEFI I HI BUIVDK DK UI;DCIS D<FGNI;I Q TGHBECGUI;I vTCGED;BUBDKFG^RD TDC;RCIC\ ;RCIKFD FG;G DH TDCBG;G WBCCDBKIHvS EGK BK;DTDK;DKEBI ;D HI< KRUDCG<I<GYCI< ;D GCBVDK aB<TIKGS VDKDCIHUDKFD GCBRK;I< ;DH \UYBFG <DWBHHIKGS EGUG DH 0CB<FG ;DHG< 0GK^RB<FI;GCD< ;D HI 0IFD;CIH ;D ._cBEGS DH VCRTG ;D #IKFI 'KIS HI OBCVDK Q DH ,BdGS;DH .R<DG ;DH 0GKWDKFG ;D #IKFI .LKBEI ;D 3RDYHIS IFCBYRB;I I )BDVG ;D 3D<^RDCIS G DHUIVB<FCIH CDHBDWD ;DH )D<EDK;BUBDKFG ;D HI <IECB<FMI ;DH 0GKWDKFG ;D 1IKaRBFH\KS TCGKFGI;^RBCBL BK <BFR RK VCIK ;D<ICCGHHGS YBDK I FCIW_< ;D ICFB<FI< TCGED;DKFD< ;D I^RDK;D HG<UICD<S EGUG <DCMIS TGC EBFIC ;G< EI<G< DUYHDU\FBEG<S I^RDH 3D;CG ;D -CBbRDHIS ̂ RBDK aIEBIfAj@S EGKFCIFL EGK ,BEGH\< ;D $DcD;IS HI< D<ERHFRCI< ;DH CDFIYHG ;D 0RIRaFBKEaIKS G3D;CG ;D &D^RDKIS ^RD FCIYIZL DK HI< ;D !RDZGFbBKVGS G QI BK;MVDKI<S EGUG .BVRDH.IRCBEBGS ̂ RD FCIYIZL DK DH ;D<ITICDEB;G CDFIYHG ;D HI BVHD<BI ;D #IKFBIVG $HIFDHGHEGS ;DH^RD <D EGK<DCWI DH CDHBDWD ;D;BEI;G I #IKFBIVG .IFIUGCG<=

,G GY<FIKFDS HI BUIVDK TGC DcEDHDKEBI ;DH URK;G KGWGaB<TIKGS D< HI CDIHBbI;I DKTI<FI ;D EIdI ;D UIMbS TRD<S TGC <R HBVDCDbIS YICIFRCI Q NIEBHB;I; TICI FCIK<TGCFIC QDcTGCFICS I;^RBCBL RK VCIK ;D<ICCGHHG= 2RDCGK HG< FICI<EG< vHG< BK;MVDKI< ;D 3\FbXERICGv HG< ECDI;GCD< ;D D<FI F_EKBEI D<ERHFLCBEIS EGK<B<FDKFD DK DcFCIDC HI TRHTI ;DHI EIdI ;D UIMb TICI GYFDKDC RKI UI<I UGH;DIYHDS ^RD IH UDbEHIC<D EGK RKI EGHISGYFDKB;I GCBVBKICBIUDKFD ;DH FIFbBKVRDKB vTHIKFI ;DH HIVG 3\FbERICGv TDCUBFMI UGX;DHIC HI NBVRCI I TICFBC ;D RK <GTGCFD NGCUI;G TGC EIdI< <DEI<S TITDH IUIFDS DFES RKIWDb <DEI <D TGHBECGUIYI IH BVRIH ^RD HI< ;D UI;DCI= )BEaI F_EKBEIS ERQG TCBUDCDZDUTHG <DCMI HI OBCVDK ;D HI #IHR;S TIFCGKI ;D 3\FbERICGS CDIHBbI;I DK fApj TGC DHBK;BG eRIK ;DH -ICCBG 2RDCFDS TDCWBWBL ;RCIKFD FG;G DH TDCBG;G WBCCDBKIHS IRK^RD IHX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# is

EIKbL <R EDKBF DK DH <BVHG `O""S <BDK;G GYCI< <DdDCI<S DH 0CB<FG ;DH 0IEIG G DH ;DHODKDKG ;D HI 0IFD;CIH ;D ._cBEGS ITICFD ;D HG< KRUDCG<G< DZDUTHG< DcTGCFI;G< I*<TIdIS EGUG DH *EED !GUG ;D HI< )D<EIHbI< &DIHD< ;D .I;CB;= "KEHR<GS TCGKFG HG<ICFD<IKG< D<TIdGHD< ITCDK;BDCGK D aBEBDCGK <RQG D<FD TCGED;BUBDKFGS ;D<FIEIK;G DK<GYCDUIKDCI HI NIUBHBI ;D HG< 0DC;I=

3GC HG ^RD CD<TDEFI IH CDFIYHGS DH KkUDCG ;D HG< EGK<DCWI;G< D< URQ HBUBFI;G=)DYDKS KG GY<FIKFDS <DC FDKB;G< EGUG TBDbI< <BKVRHICD< ;DH &DKIEBUBDKFG KGWGaB<TIXKGS G<EBHIK;G D<FBHM<FBEIUDKFD ;D<;D RK TCBUDC CDKIEBUBDKFGS EGUG TRD;D <DC DH ;D$DEIHBS aI<FI RK UIKBDCB<UG WBVKGHD<EGS EGUG <RED;D EGK DH ;D `GEaBUBHEG= #R D<X^RDUI IC^RBFDEFLKBEG <D ;D<ICCGHHI WDCFBEIHUDKFD DK TB<G<S TICFBDK;G ;D RK YIKEGS;GK;D <D <RDHDK EGHGEIC HG< 'TL<FGHD<S HG< *WIKVDHB<FI< G HG< 3I;CD< ;D HI "VHD<BI%EEB;DKFIH vDK EHICI IHR<BLK I <R TITDH EGUG NRK;IUDKFG ;D HI "VHD<BIv Q EGCGKIKX;G HG< ;B<FBKFG< TB<G< RK \FBEGS GERTI;G TGC RK 0IHWICBG EGUTHDFG Q DH 3I;CD *FDCKGYDK;BEBDK;G DK DH CDUIFD= !GCBbGKFIHUDKFD <GK WICBI< EIHHD<S HI EDKFCIHS I TICFBC ;DH

<IVCICBGS <RDHD TCD<DKFIC DK D<ERHFRCI HG< <IKFG< FBFRHICD< ;DH FDUTHG TICI FDCUBKIC EGKDH EBFI;G 0IHWICBGS HI< DKFCDEIHHD<S DK TBKFRCIS HG< TI<IZD< EHIWD< ;D HI WB;I ;D 0CB<FGS

&*+"*O* )*+ e8"0"% 2",'+= 0'3"++' '-"*&$'S 0'+3',=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ij

)"*7% )* 3*#q8*&' :'$&"-=>= #',$' ','S +' O"&7*, 1 *+ ,"P% = 0%,O*,$% )*#',$' .J,"0'S 38*-+' )* +%# 4,7*+*#=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# sf

,RDWI *<TIdI= $IH <DCMI DH EI<G ;DH CDFIYHG ;D HI 0ITBHHI ;D HI %C;DK $DCEDCIS DK

$DcEGEGS DH ;D RKI EITBHHI TG<I ;DH EGKWDKFG ;D 0IHTIK G RKG ;D HI KIWD ;D HIBVHD<BI ;D `GEaBUBHEG=

&*$'-+% .'1%&= `%0!"."+0%=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$s?

#*+*00"J, )* ".47*,*#

0%,e8,$% )* 3",$8&'# .8&'+*# )*+ 0%,O*,$% )* '0$%3',=:#"7+% ̀ O">

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# sp

)DKFCG ;D D<FD EITMFRHGS ^RD FIK IHFG ;D<ICCGHHG IHEIKbL DK DH qRBKBDKFG<S D<TDEBIHXUDKFD ;DKFCG ;D HG< EGUTHDZG< \UYBFG< EGKWDKFRIHD<S HG ^RD EGK;BEBGKIC\S DK VCIKUD;B;IS <R NBKIHB;I;S VCIK BKFDC_< Q WIHGC ICFM<FBEG FBDKDK HI< ;D D<FD EDKGYBG IVR<FBKGSvNRK;I;G TGC 2CIQ 'K;C_< ;D .IFIS DK fAhiS I ^RBDK <D HD IFCBYRQDK FIUYB_K HI<FCIbI<vS ;DYBL <DC GYCI ;D WICBG< ICFB<FI< IWDbI;G<S ^RD UIKDZICGK EGK <GHFRCI ;BWDCX<G< CDTDCFGCBG< ;D VCIYI;G< Q FCIFI;G< ;D IC^RBFDEFRCI=

0RIFCG <GK HG< \UYBFG< EGK TBKFRCI< URCIHD<5 DK TCBUDC HRVIC HI VCIK D<EIHDCI S DK ERQIEIZI KG< DKEGKFCIUG< EGK DH U\< EGUTHDFG TCGVCIUI BEGKGVC\NBEG ;D DcIHFIEBLK ;D HIGC;DK ;D #IK 'VR<FMK5 <R< ERIFCG URCG< TDCBUDFCIHD< WIK ;BWB;B;G< DK WICBG< NCB<G< aGCBXbGKFIHD<S ;DEGCI;I< EGK CBEG< VCRFD<EG<S DH D<ER;G ;D HI GC;DKS DH IKIVCIUI ;D 0CB<FG Q ;D.ICMIS DFE= ' <R WDb DK EI;I NCIKZIS Q ;DKFCG ;D RKG< ICEG< ;D UD;BG TRKFG CDYIZI;GSITICDED RK INIUI;G NCIBHD IVR<FBKGS CDUIFIK;G DH EGKZRKFG HI .IV;IHDKIS HI OBCVDK Q RK<IKFG DCUBFIdG vDK IHR<BLK I HI GCIEBLKS YI<D ;DH YRDK CDHBVBG<Gv=

*K HI <IHI ;D TCGNRK;B< S ;GK;D <D WDHIYI I HG< CDHBVBG<G< NIHHDEB;G<S FDKDUG< HI$DYIB;I G HG ^RD D< HG UB<UG HG< GCMVDKD< UMFBEG< ;D HI %C;DK 'VR<FBKIS CD<RDHFG IFCIW_< ;D RK DKEIKFI;GC TIB<IZDS TGYHI;G ;D CDHBVBG<G< GERTI;G< DK HI< U\< ;BWDC<I<HIYGCD<= *K HI TGCFDCMI RK VCIK URCIH KG< TCD<DKFI I #IK 'VR<FMK EGUG TCGFDEFGC ;DHI %C;DK v<R VBVIKFD<EI NBVRCI IYCD <R< YCIbG< TICI IEGVDC I HG< CDTCD<DKFIKFD< U\<EGK<TBERG< ;D HI CIUI UI<ERHBKI Q NDUDKBKI ;D HI %C;DKv Q TGC DK;D ;D HG< ^RD IHHM <D IEDC^RDK Q TGC kHFBUG HI EITBHHI IYBDCFI KG< YCBK;I RK IUTHBG TCGVCIUI BEGKGVC\XNBEG ;D;BEI;G I DcIHFIC HI YGK;I; ;DH EIFGHBEB<UG I FCIW_< ;D TI<IZD< EHIWD< ;DH'KFBVRG Q ;DH ,RDWG $D<FIUDKFG=

.'&$6, )*+ O%#= #', e8', ',$* +' 0"8)') )* e*&8#'+/, *#0&"-"*,)% *+ '3%0'+"3#"# :2",'+*# )*+ #"7+% `O">= .8#*%,'0"%,'+ )* O"&&*",'$%S $*3%$9%$+4, :./`"0%>

*H TBKFGC KGWGaBTIKGS D<TDEBIHUDKFD DK HG< TCBUDCG< UGUDKFG< <D WBL EGK;BEBGKIX;G TGC RKI <DCBD ;D aDEaG< URQ KDVIFBWG<S v<R TCGNRK;G IB<HIUBDKFGS HI ;BNBERHFI;;D WBIZIC I HG< VCIK;D< EDKFCG< ICFM<FBEG< DRCGTDG< Q D<TIdGHD<S HI FGFIH IR<DKEBI ;DVCIK;D< UDEDKI< Q EGHDEEBGKD<S DFE=v ;D IaM ^RD DK <R aGCBbGKFD Q NGCUIEBLK ZRVICIRK TITDH EHIWD HI< BUTGCFIEBGKD< ;D GYCI< Q ;D EGHDEEBGKD< ;D D<FIUTI<= *K D<FDI<TDEFG VCIK BKEB;DKEBI FRWBDCGK HI< EGHDEEBGKD< ;D 'HYDCFG )RCDCGS .ICEIKFGKBG&IBUGK;BS Q <GYCD FG;G HI< GYCI< BUTGCFI;I< Q HG< VCIYI;G< ;D .ICFMK ;DH OG<=,IEB;G DK 'UYDCD<S CD<B;BL IHVkK FBDUTG DK "FIHBIS FCIYIZIK;G EGK $BKFGCDFFGS TGC HG^RD DK <R GYCI <D aDCUIKIK HI< NGCUI< NHIUDKEI<S WDKDEBIKI< Q CGUIKB<FI<=

)D <R< UREaG< ERI;CG< <GYCD<IHDK $GYMI< Q DH ICE\KVDH #IK &INIDH ;D HI EITBHHI;D ,RD<FCI #DdGCI ;D HI< 'KVR<FBI< ;D 7CIKI;IS DK HI 0IFD;CIH ;D ._cBEGS HI<<GCTCDK;DKFD< FIYHI< ;D;BEI;I< I #IK 3D;CGS #IK 3IYHG Q I HI "KUIERHI;I 0GKEDTXEBLK ;D HI HGEIHB;I; ;D 0RIRaFBFH\K Q D<TDEBIHUDKFD DH LHDG <GYCD UI;DCI ^RDCDTCG;REBUG< v#IK eRIK Q DH 'TGEIHBT<B<vS ^RD TICIHDHIUDKFD ;BWRHVL EGK RKVCIYI;G NDEaI;G DK fAsg= )D NIEFRCI Q EGHGCB;G UIVB<FCIHS I HI Bb^RBDC;I NGCUIK;GRK IUTHBG <DVUDKFG ;D EMCERHG #IK eRIKS <DKFI;GS D<ECBYD DH kHFBUG HBYCG ;D HI -BYHBIIH ;BEFI;G ;D RK DHDVIKFD \KVDH ^RD ;D TBD HD WI ;BEFIK;G DH FDcFGS DH CD<FG HG GERTI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$sh

RKI BKUDK<I KRYDS ERQG EDKFCG <D IYCD TICI ;DZICKG< WDC HI eDCR<IH_K EDHD<FBIHS RKVCIK CDEF\KVRHGS FGFIHUDKFD CDVRHICS EGK ;GED TRDCFI<S FCD< TGC EI;I HI;GS ;DNDK;B;I<TGC RK \KVDHS DK IHR<BLK I HG< ITL<FGHD<S DUDCVBDK;G DK DH EDKFCG RK EDCCDFDS ;GK;D

CD<THIK;DED DH 0GC;DCG v<MUYGHG ;D 0CB<FGvS <DVkK <D CDHIFI DK DH EITMFRHG ?fSWDC<MERHG<S f?Xfh=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# sA

+8"# +'7'&$%= +%# )*#3%#%&"%# )* +' O"&7*, :fifg>=0%+*00"J, 3'&$"08+'&

)DKFCG ;DH ERHFG HBFkCVBEG TCGTBG ;D HI< EIFD;CIHD<S DH ;D<ICCGHHG ;DH GNBEBG ;BWBKG D<NRK;IUDKFIH= 0GUG DHDUDKFG IRcBHBIC BUTCD<EBK;BYHD D<F\K HG< HBYCG< EGCIHD< ^RDS <BX

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$si

FRI;G< <GYCD DH NIEB<FGH DK DH EDKFCG ;DH EGCGS CDEGVDK HI< GCIEBGKD< Q FDcFG< EGCCD<XTGK;BDKFD< I FIH NBK= &DIHBbI;G< DK VCIK;D< aGZI< ;D TDCVIUBKGS ^RD <D DKERI;DCKIKEGK VCRD<I< FITI<S <RDHDK BC CBEIUDKFD BHRUBKI;G< vUBKBIFRCI<v EGK D<EDKI< IHR<BXWI< I HI ND<FBWB;I; ^RD <D WI I EDHDYCIC Q VCIK;D< EDKDNI< GCKIUDKFIHD< DK FG;G <RTDCMUDFCG=

*K HI ,RDWI *<TIdI DK HI FCIK<BEBLK ;DH <BVHG Ò" IH Ò""S KG TG;DUG< GYWBIC D<FDGHWB;I;G EITMFRHGS DK D<TDEBIH TGC HG< UIVKMNBEG< EGKZRKFG< ;D HBYCG< EGCIHD< ^RDVRIC;IK HI< EIFD;CIHD< ;D 0BR;I; ;D ._cBEGS 3RDYHI ;D HG< 4KVDHD< Q ,RDWI 'KFDX^RDCI v%IcIEIvS GYCI ;D HG< +IVICFGS +RB< vDH TI;CDS GCBRK;G ;D 7CIKI;Iv Q'K;C_< Q +RB< v<R< aBZG<vS D<FR;BI;G< TGC 7RBHHDCUG $GWIC= +I< ;DHBEBG<I< H\UBKI<;D<FIEIK TGC <R ;BYRZG TCDEBG<B<FIS <R Dc^RB<BFI <DK<BYBHB;I;S <R CDNBKI;I NIKFI<MI QTRHECG EGHGCB;G= -RDKG< DZDUTHG< <GK HI OBCVDK ;DH &G<ICBG EGK #FI= 0IFIHBKI ;D#BDKI Q HI 'KRKEBIEBLK DK DH .RKIHS GYCI ;D +RB<S G HI "KUIERHI;I ;DH .R<DG -DHHGQ 9DFBKI ;D 3RDYHIS GYCI ;D <R< aBZG< 'K;C_< Q +RB<=

*K DH EI<G ;D HG< )D<TG<GCBG< ;D HI OBCVDK Q #IK eG<_S FDUTHD <GYCD TDCVIUBKGNBCUI;G TGC +RB< +IVICFGS DH TI;CDS Q NDEaI;G DK fifgS HI D<EDKIS ^RD GERTI DH EDKFCG;D HI EGUTG<BEBLKS <D ;D<ICCGHHI ;DHIKFD ;D RK DHDVIKFD TLCFBEG CDKIEDKFB<FIS UBDKFCI<DK FG;G <R DKFGCKGS ;DKFCG ;D RKI< ;DHBEI;I< GCHI<S ^RD KG< CDERDC;IK ERDCG< CDEGCXFI;G< UIKBDCB<FI<S KG< DKEGKFCIUG< RKI <DCBD ;D <IKFG< Q <IKFI< URQ EGURKD< DK HI;DWGEBLK TGTRHIC ;DH UGUDKFG= '<MS EGUDKbIK;G TGC DH \KVRHG <RTDCBGC Bb^RBDC;G Q<BVRBDK;G HI ;BCDEEBLK ;D HI< IVRZI< ;DH CDHGZS FDKDUG< I #IKFG )GUBKVG ;D 7RbU\KS#IKFI rC<RHI Q HI< GKED UBH WMCVDKD<S #IKFG $GU\< ;D '^RBKGS #IKFI 0IFIHBKIS #IK+GCDKbGS #IK eIEBKFG ;D 3GHGKBIS DH 4KVDH ;D HI VRIC;IS #IK 3D;CGS U\CFBC ;D ODCGKIS#IK eRIK -IRFB<FI Q #IKFI .ICMI .IV;IHDKI= *H TCD;GUBKBG ;D <IKFG< TCGTBG< ;D HI%C;DK ;D HG< )GUBKBEG< KG< HHDWI I TDK<IC ^RD FIH UBKBIFRCIS aGQ DK RKI EGHDEEBLKTCBWI;IS ;DYD TCGED;DC ;D IHVkK EGKWDKFG ;GUBKBEG=

',J,".%= #',$% 0&"#$% )*+ 0'0'% :#"7+% Ò"">= 0'$*)&'+ )*./`"0%S 0'3"++' )* #', e%#/

)DKFCG ;D HI D<ERHFRCI ;D YRHFG CD;GK;GS HI BUIVDK ;DWGEBGKIH TGC DcEDHDKEBI ;DHURK;G KGWGaB<TIKGS D< HI CDIHBbI;I DK TI<FI ;D EIdI ;D UIMbS TGC <R HBVDCDbIS YICIFRXCI Q NIEBHB;I; TICI FCIK<TGCFIC Q DcTGCFIC= 2RDCGK HG< FICI<EG< vHG< BK;MVDKI< ;D3IFbERICGvS <DVkK KG< CDHIFI DH ECGKB<FI ^RDCDFIKG NCIQ 'HGK<G +ICCDIS DK fihpS HG<ECDI;GCD< ;D D<FI F_EKBEI D<ERHFLCBEIS EGK<B<FDKFD DK DcFCIDC HI TRHTI ;D HI EIdI ;DUIMb TICI GYFDKDC RKI UI<I UGH;DIYHDS ^RD IH UDbEHIC<D EGK RKI EGHIS GYFDKB;IGCBVBKICBIUDKFD ;DH FIFbBKVRDKB vTHIKFI ;DH HIVG 3IFbERICGv TDCUBFMI UG;DHIC HINBVRCI I TICFBC ;D RK ICUIbLK G <GTGCFD NGCUI;G TGC EIdI< <DEI< G UI;DCI< URQHBVDCI<= 3ICI HI< ICFBERHIEBGKD< <D DUTHDIYI TITDH G FDHI< Q E\dIUG TICI HI< IFI;RCI<=+I EIYDbI Q DH FLCIc ^RD;IYIK aRDEG< Q RKI WDb <DEI HI GYCI <D ITHBEIYI RK D<FREGQ <D TGHBECGUIYI IH BVRIH ^RD HI< ;D UI;DCI= )BEaI F_EKBEI vRKG ;D <R< TCBUDCG<DZDUTHG< <DCMI HI OBCVDK ;D HI #IHR;S TIFCGKI ;D 3IbFERICGS CDIHBbI;I DK fApj TGC DHBK;BG eRIK ;DH -ICCBG 2RDCFDvS TDCWBWBL ;RCIKFD FG;G DH WBCCDBKIFGS IRK^RD IHEIKbL<R EDKBF DK DH <BVHG Ò""S EGK GYCI< FIHD< EGUG DH 0CB<FG ;DH ODKDKG ;D HI 0IFD;CIH ;D



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ss

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# sg

HI< DKFCDEIHHD< Q EIHHD UD;BIHS DcEDTFG DH VCIK 0IHWICBG ;DH \FBEGv= 3ICI ERHUBKIC EGKDH VCIK NCGKFB<TBG ^RD HG EGCGKI ;D;BEI;G IH 3I;CD *FDCKG Q HI TCD<DKEBI ;D #IKFI.ICMI .IV;IHDKI Q #IKFI .ICMI *VBTEBIEIS DK YIKEG ;D HI< EIHHD< HIFDCIHD<S DK EHICIIHR<BLK D BKWBFIEBLK I HI GCIEBLK Q IH ICCDTDKFBUBDKFGS I HG ^RD KG< EGKWGEI FIUYB_KHG< ;G< FGK;G< EGK #IK 3D;CG TB;BDK;G TDC;LK I 0CB<FG Q eD<k< ,IbICDKG< ^RDCDUIFIK HI< EIHHD< HIFDCIHD<=

3GC FG;G DHHGS EGUG EGKEHR<BLKS ;BCDUG< ^RD D<FIUG< IKFD RKI GYCI ERUYCD DK <RV_KDCGS FIKFG TGC HI EIHB;I; ;D <R< TBKFRCI<S <B YBDK D< ;DNMEBH ;D<HBK;IC HG ^RD D< ;D3DCDQK< ;D HG ;D 'K;C_< ;D HI 0GKEaIS ;D <R< aDCUG<I< D<ERHFRCI< Q CDHBDWD<S I<M EGUG TGC <R DcEDTEBGKIH TGHBECGUMIS EGK RKG< <GYDCYBG< Q UIVB<FCIHD< D<FGNI;G<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$j@

'3/,)"0* )%08.*,$'+

"= %&)*,',9'# )* 3",$%&*# 1 )%&')%&*# )* +' 0"8)') )* ./`"0%SfAAs=f

[*K HI URQ KGYHDS BK<BVKDS Q URQ VCIK 0BR;I; ;D ._cBEG $DKR<FBFHIK ;D D<FI,RDWI *<TIdI ;D HI< "K;BI< ;DH UIC %E_IKG I FCDBKFI ;MI< ;DH UD< ;D IYCBH ;D HI ;DH,IEBUBDKFG ;D ,RD<FCG #IHWI;GC eD<RECB<FGS ;D UBHS Q ^RBKBDKFG<S Q EBKERDKFI Q <BDFDIdG<= *<FIK;G ZRKFG< DK DH 0IYBH;GS <DVkK HG aIK ;D R<GS Q EG<FRUYCD DK HI< EI<I< ;DHIQRKFIUBDKFG ;D D<FI ;BEaI EBR;I;S HG< URQ .IVKMNBEG< #DdGCD< eR<FBEBIS Q &DVBUBDKXFG ;D D<FI ;BEaI 0BR;I;S TGC TCD<DKEBI ;D UM .BVRDH +LTDb ;D +DVI<TB <ECBYIKGUIQGC ;D ;BEaG IQRKFIUBDKFG TGC <R UIZD<FI;= +G< ;BEaG< <DdGCD< eR<FBEBIS Q &DVBX;GCD<S } ;BZDCGK ^RD TGC TICFD ;D IHVRKG< GNBEBIHD< ;DH GNBEBGS Q ICFD ;D TBKFGCD<S ^RDDK D<FI 0BR;I; CD<B;DKS HD< NRD aDEaI CDHIEBLK ^RD TICI ^RD DH GNBEBGS Q ICFD ;DTBKFGCD< <D aBEBD<DS Q R<I<D EGUG EGKWDKMI IH YBDKS Q TCGWDEaG ;D HI &DTkYHBEIS DCIKDED<ICBGS ^RD HI< TDC<GKI< ^RD HG aRYBD<DK ;D R<ICS NRD<DK a\YBHD<S Q <RNBEBDKFD<S QUID<FCG< DcIUBKI;G< TICI DHHGS ^RD aRYBD<D GC;DKS Q GC;DKIKbI< EGKNGCUD I HI<ERIHD< R<I<DK DH GNBEBGS aIYBDK;G WB<FG ^RD HG ^RD I<M NRD TD;B;G D< URQ ZR<FG Q DKYBDK ;D D<FI &DTkYHBEI Q TICI ^RD DH ;BEaG GNBEBG <D R<D EGUG ;DYD R<IC<DS Q ED<DKUREaG< DKVIdG<S Q NCIR;D<S ^RD TG;CMI aIYDC DK DH R<G ;DH ;BEaG GNBEBG aIYBDK;GUREaI< WDED< FCIFI;GS Q TCIEFBEI;G DK DH EI<GS Q aIYBDK;G FGUI;G TICDEDC ;D TDC<GXKI< ;D EGKNBIKbI <IYD;GCD< ;DH ;BEaG GNBEBG ^RBDKD< IEGC;ICGK ;D aIEDCS D aBEBDCGKHI< %C;DKIKbI<S ^RD ;D <R<G R<G <DC\K EGKFDKB;I< TICI EGK DHHI< GERCCBC IH BHR<FCM<BUG<DdGC ;GK +RB< ;D ODHI<EGS OB<GCCDQS Q 7GYDCKI;GC TGC <R .IZD<FI; DK D<FI ,RDWI*<TIdI TICI ^RD <R #DdGCMI "HR<FCM<BUI HI< UIK;D WDCS Q DcIUBKIC Q aIVI UDCED; ID<FI 0BR;I; ;D UIK;ICHI< ITCGYICS Q EGKNBCUICS Q ^RD <D VRIC;DKS Q ERUTHIKS Q <DTCDVGKDK TkYHBEIUDKFD= 1 HI< GC;DKIKbI< <GK HI< <BVRBDKFD<=

3CBUDCIUDKFD GC;DKIUG<S Q UIK;IUG< ^RD KBKVkK TBKFGCS BUIVBKDCGS KB ;GCI;GC;D FIYHIS KB TBKFGC ;D UI;DCIS Q ;D NCD<EGS KB <ICVRDCG<S I<M HG< ^RD IH TCD<DKFD D<F\K DKD<FI 0BR;I;S EGUG HG< ^RD ;D I^RM I;DHIKFD NRDCDKS Q WBKBDCDK I DHHIS DHHG<S KB GFCITDC<GKI IHVRKI KG TRD;I FDKDCS KB TGKDC FBDK;I ;D HG< ;BEaG< GNBEBG<S Q ICFD ;DTBKFGCD< <BK ^RD TCBUDCG <DI DcIUBKI;G EGK HG< GNBEBIHD< WDD;GCD< ;D ;BEaG GNBEBGSEI;I RKG ;D DHHG< ;DHIKFD ;DH ^RD <RTBDCDS TGC^RD ;Bb^RD IHVRKG< TBKFGCD< ;DH ;BEaGICFD aIK TRD<FGS Q EI;I ;MI TGKDK FBDK;IS D R<IK HG< ;BEaG< GNBEBG< <BK <DC DcIUBKIX;G<S KG <BDK;G a\YBHD<S Q <RNBEBDKFD< TICI HG R<ICS TGC HG ^RD <D aI <DVRB;G Q <BVRD;IdG ;DH YBDK EGUkK ;D D<FI 0BR;I; D &DTkYHBEIS D VCIK BKEGKWDKBDKFDS TGC^RD TGC;DNDEFG ;D KG <DC HG< ;BEaG< GNBEBIHD< FIK <IYB;GCD< DK DH ICFDS EGUG ;D CIbLK ;DYCMIK<DCS aIK ;IdI;G UREaI< GYCI<S D <D aIEDK BUTDCNDEFI<S TGC DK;D ^RDCBDK;G CDUD;BICSQ TCGWDDC HG <R<G;BEaGS GC;DKIUG<S Q UIK;IUG< ^RD ;D I^RM I;DHIKFD KBKVkK TBKFGCSBUIVBKDCG KB ;GCI;GC ;D FIYHI KB TBKFGC ;D UI;DCI KB ;D NCD<EG KB GFCI TDC<GKI IHVRKIS

f= O"0$%&"'S eG<_ 7RI;IHRTD= 3BKFRCI Q <GEBD;I; DK ,RDWI *<TIdI= #BVHG `O"= ._cBEGS8KBWDC<B;I; 'RFLKGUIS fgjiS 3\V<= fA?XfAj=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# jf

KG TGKVIK KB TRD;IK TGKDC KB I<DKFIC DK D<FI ;BEaI 0BR;I; FBDK;I ;D HG< ;BEaG<GNBEBG< KB ;D IHVRKG ;D DHHG<S <BK ^RD TCBUDCIUDKFD <DIK DcIUBKI;G< EGK HG< IHEIH;D<Q WDD;GCD< ;D HG< ;BEaG< GNBEBG< UID<FCG< <IYD;GCD< DK HG< ;BEaG< ICFD<S HG< ERIHD<KG< TICI DHHG DHDVBUG<S TICI ^RD DcIUBKDK I HI TDC<GKIS G TDC<GKI< ^RD aRYBDCDK ;DR<IC DH ;BEaG GNBEBG ;D TBKFGCD<S TICI ^RD aIQ\K;GHG< a\YBHD<S Q <RNBEBDKFD HG< FCIBVIKIKFD KG< TICI ^RD KG< HG< ITCGYDUG< D ;DK;D DK I;DHIKFD HG< aIHHIUG< TGC UID<FCG<DcIUBKI;G< ;DH ICFD DK ^RD <D DcIUBKICDK= 1 TRD;IK FGUIC GYCDCG< TICI aIEDC HI<;BEaI< GYCI<S D EGK D<FD KRD<FCG UIK;IUBDKFG TRD;IK TGKDC FBDK;I<S D R<IC ;DH ;BEaGGNBEBGS D KG DK GFCI UIKDCI IHVRKI D <B IHVRKI TDC<GKI TR<BDCD FBDK;I D R<ICD DH ;BEaGGNBEBG <BK <DC DcIUBKI;G BKERCCI DK TDKI ;D WDBKFD TD<G< ;D GCG ;D UBKI< HG< ERIHD<ITHBEIUG< HI FDCEBI TICFD TICI HI E\UICI Q NB<EG ;D <R UIVD<FI;S Q HI FDCEBI TICFD TICID<FI EBR;I;S Q HI FDCEBI TICFD TICI DH ;DKRKEBI;GCS Q eRDb ^RD HG <DKFDKEBICDS Q FG;IWMIHD <DI IHbI;I Q ^RBFI;I HI ;BEaI FBDK;IS Q UIK;IUG<S ^RD TIVRDK HG< ^RD I<M NRDCDKDcIUBKI;G< ERIFCG TD<G< ;D GCG EGUkKS HG< ERIHD< <D CDTICFIK TGC HG< ;BEaG< DcIUBXKI;GCD<=

%FCG <M GC;DKIUG<S Q UIK;IUG<S ^RD TGC DH ;MI ;D IdG KRDWG ;D EI;I RK IdG <D ZRKFDK FG;G< HG< UID<FCG< ;D ;BEaG GNBEBG ;D TBKFGCD<S Q DHBZIK DKFCD <M ;G< YRDKI<TDC<GKI< a\YBHD<S Q <RNBEBDKFD< TICI ^RD <DIK IHEIH;D<S Q WDD;GCD<S ^RD <DIK <IYBG< DKFG;I< HI< ERIFCG EGCFD< ;D TBKFGCD<S Q <B KG HG aRYBDCD DHBZIK DK EI;I RK ICFD RKGS Q;D<TR_< ;D I<M DHDVB;G< <DIK EGKNBCUI;G< TGC FG;G< Q <DIK FCIM;G< IH 0IYBH;GS Q&DVBUDKFG ;D D<FI EBR;I;S TICI ^RD IfHB <D CDEBYI ;D DHHG< DH ZRCIUDKFGS ^RD R<IC\KYBDKS Q NBDHUDKFD ;DH ;BEaG GNBEBG ;D IHEIH;D<S Q WDD;GCD<S Q D<FG aDEaG FDKVI TG;DCSQ NIERHFI; TICI CD^RDCBC HI< EI<I<S Q FBDK;I< ;D HG< TBKFGCD< D VRI;IUIEBHDCG<S ^RDTBKFIK DKEBUI ;D VRI;IUDEMD< IH LHDGS I;WGEIEBGKD< ;D <IKFG<S D BUIVBKDCMIS Q D<FG <DaI ;D CDUBFBC I HG< GNBEBIHD< DcIUBKI;G< ;D HI BUIVBKDCMI ;DH LHDG Q HI< GYCI<S ^RD KG<D aIHHICDK aDEaI< EGKNGCUD I HI< GC;DKIKbI< HI< FGUDKS Q ;DFDCUBKDK EGKNGCUD ID<FI< GC;DKIKbI<S <BK ;IC HRVIC I THDBFG <IHWG HI WDC;I; <IYB;I=

%FCG <B GC;DKIUG< Q UIK;IUG< ^RD HG< GNBEBIHD< BUIVBKDCG< ^RD ^RB<BDCDK TGKDCFBDK;I DK D<FI 0BR;I; ;D ._cBEGS G <R FBDCCIS G FGUIC GYCI TGC <MS ^RD KG HG TRD;IKaIEDCS <BK ^RD TCBUDCIUDKFD <DI DcIUBKI;G TGC HG< IHEIH;D<S Q WDD;GCD<S Q GFCG< ;G<GNBEBIHD< ;DH ;BEaG ICFDS ^RD TICI DHHG NRDCGK KGUYCI;G< aIK ;D <DC DcIUBKI;G< ;D<;DTCBKEBTBG ;DH ITICDZGS ^RD HI< TBDbI< aIK UDKD<FDC TICI TCGWDEaG ;D HI GYCIS Q I<BUB<XUG DK HI GYCI ;D HI FIYHIS Q ;DH ;BYRZG ;_ YRDKI ERDKFIS D ^RD D<FG< FIHD<S ^RD <DaRYBDCDK ;D DcIUBKIC <DIK ICFBbI;G< :<BE TGC ICFD<IKG~> D URQ YRDKG< ;BYRZI;GCD< D^RD <DTIK ;IC URQ YRDKI ERDKFI I<M ;DH ;BYRZG EGUG ;DH HIYCIC ;D HG< EGHGCD<S Q <DTICDHIFIC DH ;BEaG ;BYRZGS Q ;IC ERDKFIS ^RD aI UDKD<FDC RK aGUYCD ;D<KR;GS Q DH FCITGSQ THBDVRDS ^RD aIED HI CGTIS Q HIYCIC HG< CG<FCG<S Q EIYDHHG<S URQ YBDK HIYCI;G< ;DUIKDCIS ^RD DH ^RD aRYBDCD ;D <DC DcIUBKI;G ;DH ;BEaG GNBEBG ;D BUIVBKDCG aI ;D<IYDC aIEDC RKI BUIVDK TDCNDEFIUDKFD D ;IC YRDKI ERDKFI I<M ;D TC\EFBEI EGUG ;DGYCI I HG< ;BEaG< DcIUBKI;GCD<l Q I<BUB<UG <DI TC\EFBEG DH ^RD NRDCD DcIUBKI;G DK HIBUIVBKDCMI ;D HDZG<S Q WDC;RCI<S Q <DTI ^RDYCIC RK FCITG D <B FG;I< HI< EG<I< <R<G;BXEaI<S Q EI;I RKI ;D DHHI< KG <RTBDCD aIEDCS ^RD KG <DI DcIUBKI;GS Q ^RD ITCDK;IaI<FI ^RD HG <DTIS ^RD <DI YRDK GNBEBIHS TGC^RD KG <D ITCDK;D DK TGEG FBDUTGS Q <BIHVRKG R<ICD DH ;BEaG GNBEBG ;D BUIVBKDCMI <BK <DC DcIUBKI;G <DVkK ;D <R<G <D EGKFBDXKDS TIVRD ;D TDKI WDBKFD TD<G< ;DH ;BEaG GCG ;D UBKI< ITHBEI;G< <DVkK ;BEaG D<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$j?

%FCG <M GC;DKIUG<S Q UIK;IUG<S ^RD HG< TBKFGCD< ;DH ;DbI;G :<BE TGC ;GCI;G~><DIK DcIUBKI;G< DK HI< EG<I< ^RD EGKWBDKD IH ;DbI;G ;D<;D DH TCBKEBTBG ;DH ITICDZG;DH FBDUTGS Q EGK <IbLKS Q ^RD FDKVIK EGKGEBUBDKFG ;D HI< FDUTHD< ;D HG< DKVCR;G<SQ D<FG< DKVCR;G< HG< <DTIK aIEDC EI;I DKVCR;G TICI <R EG<I <DVkK HG aIK UDKD<FDCS^RD <D DKFBDK;I FDUTHI DK DKVCR;G TICI DH QD<G WBWGS Q FDUTHI TICI DH QD<G UIFDS QFDUTHI TICI DH QD<G YGHS Q DH GNBEBIHS ^RD <D aRYBDCD ;D DcIUBKIC ;DH D<FGNI;GS Q;GCI;GS DKFB_K;D<D ^RD <D aI ;D DcIUBKIC DK RK YRHFG ;GCI;GS Q D<FGNI;G ;D FG;G<EGHGCD< I<M IH FDUTHD EGUG IH LHDGS ^RD HD EGKWDKVIS Q UDKD<FDC <DIK IH ;BEaG YRHFGS Q_<FG aI ;D aIEDC DK EI<I ;D RKG ;D HG< IHEIH;D< ^RD D<F\K <DdIHI;G< ;DH ;BEaG ICFD;GK;D HD NRDCD <DdIHI;G EGK ZRCIUDKFG ^RD HG aI ;D aIEDC _H Q KG GFCG TGC _H=

%FCG <M GC;DKIUG<S Q UIK;IUG< ^RD HG< GNBEBIHD<S ^RD aRYBDCDK ;D HIYCIC IH NCD<EG<GYCD DKEIHI;G<S ^RD <DIK DcIUBKI;G< DK HI< EG<I< <BVRBDKFD< ;D HG &GUIKGS Q ;DNGHHIZD<S Q NBVRCI<S EGKWBDKD ^RD <DI ;BYRZI;GCS Q <DTI HI FDUTHD ^RD CD^RBDCD HI EIHS IHNCD<EG TGC^RD KG <D ^RBFD ;D<TR_< ;D TBKFI;G IRK^RD <D HIWD=

%FCG <M GC;DKIUG<S Q UIK;IUG< ^RD HG< TBKFGCD< ^RD aRYBDCDK ;D TBKFIC <ICVI<<DIK DcIUBKI;G< DK RKI <ICVI YHIKEIS Q ;D EGHGCD<S Q ^RD <DTIK ;IC HG< ITICDZG< I HI<ICVI EGKNGCUD I HG ^RD HD EGKWBDKDS ^RD D< ;ICHD IKFD< ;D TBKFICHI <R FIHWBKI Q HG<EGHGCD< Q <B HIYCICDK DK HI ;BEaI <ICVI <D aIK ;D FDUTHIC EGK <R FDUTHI ;D DKVCR;GEGKNGCUD <D aIED DK HG< &DBKG< ;D 0I<FBHHIS Q KG EGK EIEGFHD TGC^RD D< NIH<GS Q FG;IHI GYCI ^RD <D TBKFI EGK EIEGFHD KG TDCUIKDED=

%FCG <M GC;DKIUG<S Q UIK;IUG< TGC ERIKFG <GUG< BKNGCUI;G<S ^RD UREaG< GNBEBIXHD< TBKFIK <ICVI<S Q HBDKbG< ;D BU\VDKD< DK HBDKbG< WBDZG<S Q HG< WDK;DK TGC KRDWG<KG ;DEHICIK;G ^RD <GK WBDZG< HG ERIH D< DK TDCZRBEBG ;D HI &DTkYHBEI ;D I^RM I;DHIKFDDH ^RD aRYBDCD ;D WDK;DC HI< ;BEaI< BU\VDKD< <DIK TBKFI;I< DK HBDKbG KRDWG ;D HITBDbI <G TDKIS ^RD DH ^RD HIYCICD DK HBDKbG WBDZG TBDC;I HI< ;BEaI< <ICVI<S Q UI< TIVRD;D TDKI ;BDb TD<G< ;DH ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

%FCG <M GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK GNBEBIH ^RD KG NRDCD DcIUBKI;G KGTRD;I FDKDC DK <R EGUTIdMI GYCDCGS KB GFCG GNBEBIH DcIUBKI;G ;D RK GNBEBG ^RDCBDK;G_H R<IC ;_HS KG <BDK;G DcIUBKI;G <BK ^RD R<D ;DH ^RD NRDCD DcIUBKI;GS Q ^RD KGYR<^RD IEaI^RD< TICI ;DNCIR;IC HI< ;BEaI< GC;DKIKbI<S <G HI< TDKI< ;D <R<G EGKFDXKB;I< <B FIH aBEBDCD=

%FCG <MS GC;DKIUG<S Q UIK;IUG<S ^RD EI;IS Q ERIK;G ^RD IEGKFDEBDCD ^RD IHVRKIGYCI <D TR<BDCD DK IHUGKD;I TICI aIYDC<D ;D CDUIFICS ^RD KG TRD;I aIYHIC DK DHHI<IHWG DH ^RD NRDCD DcIUBKI;G DK DH ICFD ;D HI ;BEaI GYCI <G TDKI ;D ;BDb TD<G< ;DH;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

%FCG <M TGC ERIKFG aIQ UREaG< GYCDCG< ^RD D<F\K RKG G ;G< IdG< EGK RK GNBEBIHSQ ;D<TR_< <D TGKDK EGK GFCG I VIKIC ;BKDCG<S Q KG <IYDK YBDK DH ;BEaG GNBEBGS Q;IdIK HI GYCIS ^RD EID DK <R< UIKG< HG ERIH D< DK TDCZRBEBG ;D HI &DTkYHBEI TGC DK;DGC;DKIUG<S Q UIK;IUG<S ^RD EI;IS Q ERIK;G ^RD IHVkK GNBEBIH FGUICD GYCDCG <BK ^RDTCBUDCIUDKFD <DI DcIUBKI;G DK DH ICFD ^RD HG FGUICD TICI HIYCIC _<FI <DC\ EIR<I TICI^RD HG< ITCDK;BED< FCIYIZDKS Q ;D <DC YRDKG< GNBEBIHD<S D aIQI URQ YRDKG< GNBEBIHD< HGERIH D< aGKCI ;D HI &DTkYHBEI TGC^RD DK TGEG FBDUTG KG <D IHEIKbI D<FD ICFDS ^RD D<UREaGS DKFB_K;D<D DK HG< GNBEBIHD<S ^RD VIKIK ;BKDCG<S <G TDKI ^RD DH ^RD HG EGKFCIXCBG aBEBDCD BKERCCI DK HI< TDKI< <R<G;BEaI< DK DH 0ITMFRHGS ^RD ;BED ^RD KBKVkK NGCI<XFDCG KG TRD;I FGUIC GYCI< KBKVRKI<S ^RDCB_K;GHI< IH KIFRCIH TGC DH FIKFG ;DEBUG<S

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# jp

^RD KG< TICDED BKZR<FGS Q ;IUG< HRVIC ^RD <BDK;G YRDK GNBEBIH DcIUBKI;G TRD;IFGUIC FG;I< HI< GYCI<S ^RD ^RB<BDCD <BK HD BC KI;BD I HI UIKGS IRK^RD <DI DcFCIKZDCG ;DNRDCI ;DH &DBKG TGC <DC TCGWDEaG<G ;D HI &DTkYHBEI ^RD aIQI UREaG< GNBEBIHD<S EGUG<DIK YRDKG<=

%FCG< <M GC;DKIUG<S Q UIK;IUG<S ^RD FG;G< HG< GNBEBIHD< ^RD <D aRYBDCDK ;D DcIXUBKIC ;DH ;BEaG ICFD ;D TBKFIC Q ;GCI;GS BUIVBKICBGS Q <ICVRDCGS Q TBKFIC ;DH NCD<EGS^RD ;D<;D DH ;MIS ^RD D<FI< GC;DKIKbI< NRDCDK TCDVGKI;I< <D DcIUBKDK ;DKFCG ;D RKUD< TCBUDCG <BVRBDKFDS Q ;D<;D DH ;MI ^RD HI< ;BEaI< GC;DKIKbI< <D TCDVGKICDK <DEBDCCDK HI< FBDK;I< ;D HG< D<TIdGHD< ^RD HG R<IKS KG <BDK;G DcIUBKI;G< aI<FI ^RD HG<DIK Q <D HD< ;_ <R 0ICFI ;D DcIUDK=

%FCG <M GC;DKIUG<S Q UIK;IUG< I HG< ;BEaG< GNBEBIHD< ^RD EI;IS Q ERIK;G ^RDNRDCDK HHIUI;G< TGC HG< IHEIH;D< Q WDD;GCD< TGC <R< EIYBH;G<S ^RD WDKVIK <G TDKI^RDS DH ^RD KG WBKBDCD G KG ;BDCD ZR<FG BUTD;BUDKFGS ^RD TIVRD ;D TDKI RKI HBYCI ;DEDCI TICI HI NBD<FI ;D 0GCTR< 0aCB<FB Q ^RD FG;G< <D ZRKFDKS Q aIVIK HI NBD<FI EGUGU\< aGKCI;IUDKFD TR;BDCDK ZRKF\K;G<D DK DH 0IYBH;G ;GK;D HD NRDCD <DdIHI;G=

%FCG <M GC;DKIUG<S Q UIK;IUG<S ^RD DH ;BEaG GNBEBG ;D ;GCI;GCD<S ^RD D<FG< FIHD<UID<FCG< KG TRD;IK FGUIC KB FGUDK KBKVRKI GYCI ;D ;GCI;G ;GK;D aRYBDCD EG<I ;DTBKFRCI ;D BU\VDKD< I<M ;D TBKEDH EGUG ;D YRHFG TGC^RD HI< <DUDZIKFD< GYCI< EGKWBDXKD ^RD KG BKFDCWDKVIK <BKG HG< GNBEBGHD< U\< <IYBG< TICI HI ;BEaI GYCIS Q U\< ICFMNBED<I^RDHHG<S ^RD U\< D<FR;BICGKS Q FCIYIZICGK DK DH ;BEaG ICFD TGC^RD I<M HI< ;BEaI< GYCI<NRD<DK ;I;I< I GNBEBIHD< ;GCI;GCD<S ^RD KG ITCDK;BDCGK U\< ^RD I ;GCIC <DCMI ;DNCRX;IC HI< ;BEaI< GC;DKIKbI<S Q <DCMI ;IdG I HI< GYCI< TGC KG HI< FGUIC ;BD<FCG< UID<FCG<;D BUIVBKDCMI TGC FIKFG HG< ;GCI;GCD< KG FGUDK KB TRD;IK aIEDC HI FIH ;BEaI GYCI<IHWGS ^RD ;BEaG< ;GCI;GCD< TRD;IK aIEDCS Q FGUIC GYCI< ;D <IVCICBG< ER<FG;BI<S QNGHDFDCIS Q EBCBIHD< ;G KG aRYBDCD NBVRCI< Q NHGCGKD<S KB EG<I ;D ;GCI;G ;D FIYHIS Q ;DGFCI< UREaI< UDKR;DKEBI<S ^RD DK DH ;BEaG GNBEBG <D <RDHDK aIEDCS Q I<BUB<UG <DIKDcIUBKI;G< ;D VCIKG< URQ YBDK Q ;D <IYDC D<VCINBIC ;D YRDKI< GYCI<S ^RD TICI DH FIHICFD EGKWBDKDl Q I<BUB<UG aI ;D <IYDC ;IC HG< EGHGCD< <GYCD DH GCG TICI ^RD <DI YBDKDKVCINBI;GS Q <IHVI URQ WB<FG<GS <BK ;IdG ;DH GCG <G TDKI ^RD DH ^RD HG EGKFCICBGaBEBDCD BKERCCI DK HI< TDKI< <R<G;BEaI<=

"FDU GC;DKIUG<S Q UIK;IUG< ^RD KBKVkK UID<FCG WDKB;G ;D HI EGUICEI ;D D<FI,RDWI *<TIdIS KB ;D HG< &DBKG< ;D 0I<FBHHI KG TRD;IK TGKDC FBDK;I DK D<FI 0BR;I;KB DK GFCI< TICFD< <BK <DC DK DH ;BEaG ICFD ^RD R<ICD DcIUBKI;G <G TDKI ;D ;BDb TD<G<;DH ;BEaG GCG ;D UBKI< ITHBEI;G< EGUG ;BEaG D<=

"FDU GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK TBKFGC <GYCD UI;DCI KBKVRKIS KB <GYCDHBDKbG KG TRD;I VI<FIC GCG TICFB;G TGC^RD D< ;IdG ;D HI CDTkYHBEI TGC^RD HI GYCI D<NIH<I <G TDKI ;D ;BDb TD<G< ;D ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

"FDU GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK YIFBGZI KG TRD;I YIFBC THIFI <B KG NRDCD;D EGTDHI ^RD <DI NBKI EGKWBDKD ^RD <DI NBKIS Q IHHDK;D ^RD <DI NBKI EGKWBDKD ^RD<DI DH EIBCD HHDKGS Q ECDEB;G ;D HI ;BEaI THIFI NBKI TGC^RD HG aIEDK I UD;BG ECDEDCS QD< ;IdG TICI HG< ^RD HG EGUTCIKS Q DH GCG ^RD YIFBDCDK HG< ;BEaG< YIFBGZI< aI ;D <DC;D ^RBHIFD< Q KG ;D DK<IQD<S KB GCG YIZG TGC^RD D< ;IdG TICI HI< BVHD<BI<S D<FG D< TICI<R< GYCI<S Q I<BUB<UG <DI ;DH EIBCD HHDKG EGK DH ;BEaG GCG TGC^RD EGKWBDKD TICI HG<;BEaG< EGUTCI;GCD<S Q ^RD DH YIFBGZI KG TRD;I YIFBC D<FIdG TICI TBKFGCD< TGC^RD<GUG< BKNGCUI;G< ^RD HG YIFDK Q URQ VCIK ;IdG D<S Q TDCZRBEBG TICI FG;I< HI< GYCI<

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$jh

^RD <D aIEDKS Q I<BUB<UG D< TDCZRBEBG ;D HI &DTkYHBEIS <IHWG <B KG NRDCD TICI EIK;DXHDCG< <G TDKI ;D WDBKFD TD<G< ;DH ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

"FDU GC;DKIUG<S Q UIK;IUG<S ^RD KBKVRKI TDC<GKI TRD;I WDK;DC DK HI THIbI KBDK IHUGKD;I TkYHBEI KBKVRKI BU\VDK KB CDFIYHG TGC^RD D< VCIK;D ;D<IEIFG ;D ,RD<XFCG #DdGC <G TDKI ^RD DH ^RD HG WDK;BDCD D<D TGKVI DK RKI BVHD<BI D TIVRD ;D TDKI;BDb TD<G< ;DH ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

"FDUS GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK FDK;DCG TRD;I EGUTCIC BUIVDK ;DUI;DCIS G ;D HBDKbG TICI FGUICHI I CDWDK;DC TGC^RD I EIR<I ;D KG <IYDC ELUG aIK ;D<DC aDEaI< HI< ;BEaI< BU\VDKD< WBDKDK I •€I aIYDC~ WDC UREaG< DCCGCD<l I<M TGC KGDKFDK;DCHGl EGUG TGC KG <IYDCS TGC KG <DC <R GNBEBGS Q <B IHVkK UDCEI;DC FRWBDCD DK <REICVIbLK IHVRKI BU\VDKD<S HI< TRD;IK WDK;DC HI< aDEaRCI< DK <R< FBDK;I< Q KG ;DGFCI UIKDCIS <G TDKI ^RD DH ^RD NRDCD G WBKBDCD EGKFCI HG EGKFDKB;G DK D<FD EITMFRHGTIVRD ;D TDKI ;BDb TD<G< ;DH ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<S Q TBDC;I HG ^RD I<M <D EGUTCICD=

"FDU GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK GNBEBIHS ^RD NRDCD DcIUBKI;GS Q FRWBDCDFBDK;I TkYHBEIS ^RD KG TRD;I UIK;IC aIEDC I BK;BG<S KB I GFCG< TBKFGCD<S CDFIYHG ;DTBKEDH KB ;D D<FGNI;G KB ;GCI;G TICI WDK;DC <B KG NRDCD GNBEBIH DcIUBKI;G ;D DHHGSTGC^RD <BDK;G DcIUBKI;G <IYC\ ;BYRZICS Q GC;DKIC ERIH^RBDC aB<FGCBI <BK ^RD aIQIDCCGC KBKVRKGS EGUG GNBEBIH ^RD HG< aIYC\ GFCI< WDED< aDEaG G D<FR;BI;G <G TDKI ^RDHI TDC<GKI ^RD EGKFCI HG EGKFDKB;G DK D<FD EITMFRHG NRDCD G WBKBDCD EIBVIS D BKERCCI DKTDKI ;D ;BDb TD<G< ;DH ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

"FDU GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK GNBEBIH TBKFGC KB ;GCI;GC KG TRD;I FDKDCITCDK;Bb TICI DK<DdICHD DH GNBEBG <B KG NRDCD TDC<GKI DcIUBKI;I ;DH ;BEaG GNBEBGTGC^RD I EIR<I ;D KG <DC DcIUBKI;G WBDKDK I DK<DdIC I HG< ITCDK;BED< EG<I< NIH<I<STGC HG ^RD CDEBYD VCIK ;IdG DH ITCDK;BbS ^RD D< DK KG <IHBC GNBEBIH <G TDKI ;D EIDC DBKERCCBC DK TDKI ;D WDBKFD TD<G< ;DH ;BEaG GCG ITHBEI;G< EGUG ;BEaG D<=

"FDU GC;DKIUG<S Q UIK;IUG<S ^RD KBKVkK TBKFGC ;D D<FGNI;GS Q ;GCI;G KG TRD;IITICDZIC KBKVkK YRHFG KB FIYHI aI<FI ^RD TCBUDCG TI<DK FCD< UD<D<S ;D<TR_< ^RD DHDKFIHHI;GC HG aRYBDCD HIYCI;G ;D UI;DCIS TICI ^RD <D DKZRVRD Q <IHVI DH IVRI ^RDFBDKD HI UI;DCIS Q YRHFGS Q ^RD ;D<TR_< ;D <IHB;I TRD;I ITICDZIC DH ;BEaG YRHFGS Q FIHHISQ ;GK;D KG HG aIEBDK;G ^RD BKERCCI DK ;BDb TD<G< ;D GCG ;D UBKI< ;D TDKI ITHBEI;G<EGUG ;BEaG D<= 1 <B ;BEaG GNBEBIH FRWBDCD TCBD<IS aIVI HI< ;BHBVDKEBI<S ^RD EGKWBKBDCDKIH ICFD ;DH ITICDZGS Q ;GCI;GS TICI ^RD I<M aIEB_K;GHG aIED HG ^RD D< <DVkK I EGKEBDKXEBIS Q TCG ;D HI GYCI=

+I< ERIHD< ;BEaI< %C;DKIKbI< ;BEaG<S <DdGCD< eR<FBEBI Q &DVB;GCD< GC;DKICGKS Q<D aBEBDCGK <DVkKS Q EGUGS Q DK HI NGCUIS Q UIKDCI ^RD ;D <R<G <D EGKFBDKDS QKGUYCICGK Q ;BTRFICGK I HI ZR<FBEBIS Q ;BTRFI;G< ;D D<FI ;BEaI 0BR;I; WIQIK EGKDHHI< I DH ;BEaG #DdGC "HR<FCM<BUG OB<GCCDQ TICI ^RD HI< UIK;D WDCS Q EGKNBCUIC QITCGYICS Q EGKNBCUI;I< TGC <R #DdGCMI "HR<FCM<BUI <D TCDVGKDK DK HI 3HIbI .IQGC ;DD<FI 0BR;I; ;D ._cBEG TkYHBEIUDKFD Q <D VRIC;DK ERUTHIKS Q DZDERFDK EGUG DKDHHI< <D EGKFBDKD= } !GCFRdG ;D "YICCI= } -DCKIC;BKG ;D 'HYGCKGb 'HGK<G ;D ._CB;ISeRIK ODH\<^RDb ;D #IHIbIC= eRIK ;D #\UIKG= 3GC UIK;IFG ;D ._cBEG :<BE>= .BVRDH+LTDb=

*K HI 0BR;I; ;D ._cBEG I ERIFCG ;MI< ;DH UD< ;D IVG<FG ;D UBH ^RBKBDKFG< QEBKERDKFI Q <BDFD IdG< WB<FI< D<FI< %C;DKIKbI< TGC DH URQ BHR<FCD <DdGC ;GK +RB< ;D

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# jA

ODHI<EGS OB<GCCDQ 7GYDCKI;GC TGC <R .IVD<FI; DK D<FI ,RDWI *<TIdI aDEaI< TGC DH0IYBH;GS eR<FBEBIS Q &DVBUBDKFG ;D D<FI ,RDWI *<TIdIS Q 0BR;I; ;D ._cBEG DK FCDBKFI;D IYCBH ;D D<FD TCD<DKFD IdGS <GYCD HG FGEIKFD I HG< GNBEBG< ;D TBKFICS ^RD D<F\KD<ECBTFI< DK EBKEG NGZI< NBCUI;I< ;D ;BEaG 0IYBH;G eR<FBEBI Q &DVBUBDKFG Q ;D .BVRDH+LTDb <ECBYIKG IFDKFG I ^RD TGC HI< ;BEaI< %C;DKIKbI< EGK<FIS Q ^RD TICDEDK <DCkFBHD<S Q EGKWDKBDKFD<= } )BZG ^RD DK KGUYCD ;D <R .IVD<FI; ITCGYIYIS Q ITCGYLSEGKNBCUIYIS Q EGKNBCULS HI< ;BEaI< %C;DKIKbI<S Q EI;I RKI ;D DHHI< EGK HBUBFIEBLKS Q;DEHICIEBLKS ^RD TGC DH Dc\UDK KG <D TRD;D HHDWICS KB HHDWD U\< ;D FCD< TD<G< ;D GCGEGUkKS Q EGK ^RD HI< ;BEaI< %C;DKIKbI<S KB IHVRKI ;D DHHI< KG <D DKFBDK;I EGK HG<KIFRCIHD< ;D D<FI FBDCCI TGC^RD I D<FG< <D HD< aI ;D ;IC DH GC;DKS ^RD aIK ;D FDKDCS QEGK HG< WDBKFD TD<G< ;D GCG ;D UBKI< ;D TDKI I DH ^RD R<ICD DH GNBEBG <BK <DC DcIUBXKI;G <DIK WDBKFD ;D $BTR<^RDS Q EGK ^RD I<BUB<UG DK HG FGEIKFD I HG< GNBEBIHD< ;D;GCI;GCD< <GYCD DH ;GCIC VRIC;DK Q ERUTHIKS HG ^RD TGC #R .IVD<FI; Q <R <DdGCMI DK<R &DIH ,GUYCD D<F\ TCGWDM;GS Q UIK;I;G QS <G HI< TDKI< ^RD D<F\K TRD<FI<S QI;DHIKFD <D TCGWDQDCD <GYCD D<FD EI<G Q EGK D<FI< HBUBFIEBGKD<S Q ;DEHICIEBGKD< <DVRIC;DKS ERUTHIKS Q DZDERFDK HI< ;BEaI< GC;DKIKbI<S Q EI;I RKI ;D DHHI<= 1 I<M TICI^RD <D FDKVI KGFBEBI ;D HG DK DHHI< EGKFDKB;GS <D TCDVGKDK TkYHBEIUDKFD= } )GK +RB<;D ODHI<EG= } 3GC UIK;I;G ;D <R <DdGCMI 'KFGKBG ;D $RCEBG<]=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$jj

YIZG DH EGKFCGH ;D RK TGHBNIE_FBEG Q EGUTHDZG FIHHDCv= '<M UB<UG FIUYB_K <DC\K DHHG<HG< DKEICVI;G< ;D UIFDCBIHBbIC GFCI <DCBD ;D YBDKD< URDYHD<S <RUIUDKFD KDED<ICBG<SFIHD< EGUG HI< <BHHDCMI< EGCIHD<S HI< EIZGKDCI< ;D HI< <IECB<FMI< G HI< EIZI< ;D HG< LCVIKG<=

f=f= +I TBKFRCI FDKDYCB<FI

*H TCBUDC UGWBUBDKFG D<F_FBEG ^RD WIUG< I CDNDCBC D< DH FDKDYCB<UGS IRK^RD I^RM KGFRWG FIKFG ICCIBVG Q ;BNR<BLK EGUG DK *<TIdIS D<TDEBIHUDKFD DK DH \UYBFG <DWBHHIKGS<BDK;G <R BKFCG;REFGC Q VCIK ERHFBWI;GC HI <DdDCI NBVRCI ;D #DYI<FB\K +LTDb ;D 'CFDXIVI= *<FI FDK;DKEBIS ;D GCBVDK EICIWIVVBD<EG Q IUBVI ;D HG< NRDCFD< EGKFCI<FD< ;DHRED< Q <GUYCI<S ;DH CDIHB<UG EGUG TCBKEBTIH CDERC<G DcTCD<BWGS I<M EGUG ;D HI EGK<XFCREEBLK ;D <GUYCMG< Q IR<FDCG< IUYBDKFD< ^RD <BCWBDCIK ;D NGK;G I WBVGCG<I< NBVRCI<EI<B <BDUTCD ;D FDUI CDHBVBG<GS TCGKFG ;D<DUYGEIC\ DK DH THDKG YICCGEGS THDFLCBEG DKHI< NGCUI< Q DK HG< EGHGCD<S ^RD FBDKD EGUG VCIK;D< DZDUTHG< I HI< <DdDCI< NBVRCI< ;D0CB<FLYIH ;D OBHHIHTIK;G Q eRIK 0GCCDI= #B FG;G< D<FG< ICFB<FI< FCIYIZIK NRK;IUDKFIHXUDKFD DK HI EITBFIH ;DH WBCCDBKIFGS IRK^RD HG< DKEICVG< HD HHDVIK ;D<;D HG< U\< IHDZIX;G< HRVICD<S FIUTGEG TG;DUG< GHWB;ICS I^RM Q IaGCIS HI D<ERDHI TGYHIKIS ^RD DK FGCKGI HI NBVRCI ;DH GYB<TG 3IHINGc Q .DK;GbIS IHEIKbIC\ RK IHFG VCI;G ;D EIHB;I; DK HGCDNDCDKFD I ;GFIEBLK ;D GYCI< Q URDYHD< TICI HI EIFD;CIHS <BDK;G DH FRCGHDK<D .G<_K3D;CG 7ICEMI 2DCCDC RKI ;D <R< TDC<GKIHB;I;D< U\< <BVKBNBEIFBWI<=

)DYDUG< EGUDKbIC TGC #DYI<FB\K +LTDb ;D 'CFDIVI :fif@XfiA?> aBZG ;D RK THIXFDCG <DWBHHIKG= )D<EGKGEDUG< ^RBDK NRD <R UID<FCGS IRK^RD <M D< DWB;DKFD DH VCIKBUTIEFG ^RD FRWG DK _H HI TBKFRCI ;D 9RCYIC\K= #R HHDVI;I I ._cBEGS DK DH <_^RBFG ;DHWBCCDQ .IC^R_< ;D OBHHDKIS FRWG ^RD <DC aIEBI fih@= %EaG IdG< U\< FIC;D NBVRCIDZDERFIK;G HI< TBKFRCI< UBFGHLVBEI< ;DH ICEG ;D FCBRKNG HDWIKFI;G EGK UGFBWG ;D HIHHDVI;I ;DH KRDWG WBCCDQ 0GK;D ;D #IHWIFBDCCIS NIHHDEBDK;G FDUTCIKIUDKFD Q I EIR<I;D HI< aDCB;I< EIR<I;I< TGC RKI ;B<TRFI=

'CFDIVI D< RK VCIK TBKFGCS Q KG <LHG TBKFL TGC INBEBLKS EGUG ;DEMI IH <DC KGUYCI;GKGFICBG ;DH #IKFG %NBEBGS TRD< NRD <LHG I FMFRHG aGKGCMNBEGS <BKG ^RD _<FI DCI <R WDC;IX;DCI TCGND<BLK vIkK TGC D<FI< NDEaI< HI TBKFRCI DCI EGK<B;DCI;I EGUG RKI IEFBWB;I;UIKRIH Q KG RK ICFDvS EGK HI ^RD IHEIKbL NIUI Q DKEICVG<S IRK^RD <D aIQI EGK<DCXWI;G TGEG= 'CFB<FI WIEBHIKFDS HG UB<UG <D CDECDI DK WBVGCG<G< UG;DHI;G< ;D NRDCFD<EGKFCI<FD< Q DUTI<FD< HRUMKBEG< ^RD DK HI <DCDKB;I; Q IUIYBHB;I; ;D HI TBKFRCI BFIHBIXKBbIKFDS ;D TBKEDHI;I U\< HBVDCI Q HRUBKG<I= '<MS ZIU\< <D TG;CMI TDK<IC ^RD NRDCIK ;DHI UB<UI UIKG DH 0CB<FG ECREBNBEI;G ;D HI -I<MHBEI ;D 7RI;IHRTDS ;D EGCCDEFI IKIFGUMIQ <DUYHIKFD CDTG<I;GS Q DH ^RD <D VRIC;I DK DH .RKIHS ;D DcTCD<BLK ;GHGCB;IS UR<XERHG<G UG;DHI;G Q ;D HMKDI< GK;RHIKFD<S BKUDC<I< DK RKI IFUL<NDCI TIF_FBEI Q ;DK<I=

.IQGC EGKFCIFD< aIQ IkK DKFCD DH ERI;CG ;D HG< )D<TG<GCBG< ;D HI OBCVDK Q HI"KECD;RHB;I; ;D #IKFG $GU\<= *K DH TCBUDCGS HI D<EDKIS IRK^RD URQ KICCIFBWIS <D;D<DKWRDHWD DK RK IUYBDKFD DHDVIKFDS ;D ICUGKBG<G EGHGCB;G Q NBVRCI< B;DIHBbI;I<S;D D<FBCTD CINIDHD<EIl UBDKFCI< DH <DVRK;GS URQ EHICG<ERCB<FI Q DNDEFB<FIS KG< HHDWI;BCDEFIUDKFD I 9RCYIC\K= '^RMS DH CDIHB<UG D< DcEDTEBGKIHS DH EGHGC I;^RBDCD <R THDKGWIHGC DK NRKEBLK ;D HG< EGKFCI<FD< Q HI< NBVRCI< TG<DDK RKI VCIK UGKRUDKFIHB;I;= )DIaM ^RD HI TCGTGKVIUG< EGUG RKI TBDbI UID<FCI ;DH FDKDYCB<UGS FIKFG TGC DH NRHVGC

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# jg

#*-'#$"4, +J3*9 )* '&$*'7'= +' )8)' )* #',$% $%.4# =.8,'+S ./`"0% )=2==

;DH UIKFG ^RD CD<IHFI DH ERDCTG ;D 0CB<FG ;D<KR;GS URQ YBDK ;DNBKB;GS CI;BIKFD ;DDKDCVMI Q DZD ;D HI EGUTG<BEBLK IH <DTICIC<D ;DH ITCDFI;G VCRTG ;D ITL<FGHD< ;DHDKFGCKG= *KFCD GFCI< GYCI< ;D BKFDC_< <DdIHICDUG<5 RKI OBCVDK EGK DH ,BdG Q RK

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$g@

'TG<FGHI;GS DK DH .RKIHS ;GK;D <D ITCDEBIK <R< ;GFD< EGUG VCIK ;BYRZIKFD Q HI*<FBVUIFBbIEBLK ;D #IK 2CIKEB<EGS ;DH .R<DG ;D HI -I<MHBEI ;D 7RI;IHRTDS ;GK;D<BVRD URQ ;D EDCEI RKI EGUTG<BEBLK ;D &RYDK<S I FCIW_< ;D RK VCIYI;G ;D +REI<OG<FDCUIKS IRK^RD ;RHEBNBEI DH CG<FCG ;DH <IKFGS ;D IERDC;G EGK HG< VR<FG< ;D <RUD;BG= $IUYB_K ;D<FIEL EGUG CDFCIFB<FIS EGUG DH ;DH ICbGYB<TG .GKbL Q 9kdBVI G HG<fi ;D BK^RB<B;GCD<= *K ERIKFG I ECGKGHGVMIS aGQ <D ECDD ^RD <R< ERI;CG< FDKDYCB<FI<<GK HG< U\< FDUTCIKG<S IFDUTDC\K;G<D D<FG< B;DIHD< TBEFLCBEG< I NBK ;D I;ITFIC<D IHG< KGWGaB<TIKG<S U\< ;RHED< Q <RIWD<S HG ^RD KG ^RBFI EIHB;I; I <R GYCIS <BKG ^RDSDK ;DNBKBFBWIS CD<RHFI U\< IEGC;D EGK HI< TCDNDCDKEBI< D<F_FBEI< ;DH UD;BG ;GK;D FCIYIX ZI=

eG<_ `R\CDb :fifAXfiif> D<S TCGYIYHDUDKFDS DH UDZGC TBKFGC KGWGaB<TIKG ;DUD;BI;G< ;DH <BVHG `O""= !BZG +RB< `R\CDbS <D NGCUL DK DH FIHHDC TIFDCKGS <B YBDKTCGKFG ^RD;ICMI IFCIM;G TGC DH FDKDYCB<UG ;D +LTDb ;D 'CFDIVIS <BDK;G FIUYB_K _HRKG ;D <R< TCBKEBTIHD< ERHFBWI;GCD<= )RDdG ;D RK IEFBWG FIHHDCS ;GK;D <D NGCUICMIKSDKFCD GFCG<S *EaIWD &BGZI Q 'KFGKBG &G;CMVRDbS ^RD IH EI<IC EGK <R aBZI 'KFGKBISTG<BYBHBFICMI HI EGKFBKRIEBLK ;D HI D<ERDHI NIUBHBIC= #R< EGUTIEFI< NBVRCI<S BHRUBKIX;I< HIFDCIHUDKFDS ;IK I <R GYCI Q I <R< WGHkUDKD< RKI UIQGC TCDEB<BLKS <BDK;G DKHG< CG<FCG< Q DK HI< UIKG<S DK HI EIM;I Q FDcFRCI ;D HG< TIdG< ;GK;D <BVRD U\< ;DEDCEI I <R UID<FCG=

*H .RKIH VRIC;I <R< UDZGCD< GYCI<S EGUG HI ';GCIEBLK ;D HG< &DQD<S ;GK;D I HIKGYHDbI ;D .ICMI Q DH ,BdG aIQ ^RD <RUIC DH Dc^RB<BFG FCIFIUBDKFG ;D HG< CDQD<S DKD<TDEBIH HI aRUBH;I; ;DH ^RD D<F\ ICCG;BHHI;GS ^RD EGKFCI<FI EGK DH FGKG <GHDUKD ;DH^RD ITICDED ;D TBD UBCIK;G IH D<TDEFI;GC= +I 'TICBEBLK ;D HI OBCVDK I #IK 2CIKEB<EG<GYCD<IHD TGC <R WBCFRG<G UIKDZG ;D HRED< Q <GUYCI<S ^RD BUTCBUDK RKI DNBEIb WGHRXUDFCMI I HI< NBVRCI<= *cEDTEBGKIH D< <R VCIK ERI;CG ;D;BEI;G I HG< #IKFG< .\CFBCD<eR<FG Q 3I<FGCS CDIHBbI;G DKFCD fiApXAA= 0GKEDYB;G EGUG RKI FMTBEI ITGFDG<B< <DWBXHHIKI vHG< DEG< ;D &LDHI<S 2CIKEB<EG !DCCDCI DH OBDZG Q 9RCYIC\K <GK DWB;DKFD<vS HI<NBVRCI< ;D HG< KBdG<S <RDHFI<S KIFRCIHD< Q DKEIKFI;GCI< <GK ;D HG U\< HGVCI;G ^RDTCG;RZG HI D<ERDHI KGWGaB<TIKIS TR;B_K;G<D ;DEBC HG UB<UG ;D HG< ERIFCG \KVDHD<^RD HG< EGCGKIK Q I;GCIK DH 0GC;DCG .M<FBEG= $IUYB_K <D HD IFCBYRQD DH VCIK HBDKbG;D;BEI;G IH UICFBCBG ;D #IK +GCDKbG= *K HI 3CGND<I FDKDUG< DH aDCUG<G ERI;CG ;D;BXEI;G IH 0IHWICBGS BK<TBCI;G DK RK VCIYI;G NHIUDKEG Q EGK RK NRDCFD IEDKFG CRYDK<BIXKGS IH BVRIH ^RD FIUYB_K HG D<F\K HG< ;D;BEI;G< I HI 3I<BLK ;D 0CB<FG ;D HI 0ITBHHI ;DHI< &DHB^RBI< ;D HI 0IFD;CIH ;D ._cBEG= $IUYB_K NRD RK <GHBEBFI;G TBKFGC ;D CDFCIFG<SIRK^RD <D HD EGKGEDK TGEG<S ;D<FIEIK;G DH ;DH 'CbGYB<TG -ICCBDKFG< Q DH ;DH 0GK;D;D -IdG<S <R TCGFDEFGC=

3D;CG &IUMCDbS IRK^RD <R< EGKFCI<FD< HRUMKBEG< KG <DIK FIK BKFDK<G< <D TRD;DI;<ECBYBC I D<FI FDK;DKEBI= 2BVRCI IkK URQ ;D<EGKGEB;IS TRD< BVKGCIUG< <R HRVIC ;DKIEBUBDKFGS HI NDEaIS ^RB_K NRD <R UID<FCG G ER\K;G NIHHDEBL #R TCG;REEBLK GNCDEDVCIK;D< EGKFCI<FDS TRD< <BK TDC;DC HI IR<FDCB;I; Q DH CDIHB<UG aB<TIKGS <D ;DZL <D;REBCTGC HG< UG;G< NHIUDKEG< Q TGC HG< VR<FG< ;D HI EHBDKFDHI KGWGaB<TIKI= *KFCD <R<GYCI< <GYCD<IHDS HI +BYDCIEBLK ;D #IK 3D;CGS DK DH .R<DG ,IEBGKIH ;DH OBCCDBKIFGS QDH URQ GCBVBKIH eD<k< I<B<FB;G TGC HG< \KVDHD< ;D HI 3ICCG^RBI ;D #IK .BVRDH= *K DHTCBUDCGS HI< HRED< Q HI< <GUYCI< D<F\K FIK YBDK CD<RDHFI< ^RDS DK IHVkK UGUDKFGS <DFRWG TGC GYCI ;D 9RCYIC\KS <GYCD<IHBDK;G HI WBFIHB;I; TH\<FBEI ;D #IK 3D;CG NCDKFD I

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# gf

HI ;DHBEI;DbI Q VCIEBI ;DH \KVDHS ;D YDHHDbI EI<B NDUDKBKI= *H <DVRK;G ERI;CGS DHkKBEG ;D D<FD FDUI EGKGEB;G DK DH URK;G KGWGaB<TIKGS KG< URD<FCI <R aIYBHB;I;TICI ;B<FCBYRBC HI< NBVRCI<S EGK HI< U\< WICBI;I< IEFBFR;D<S ZRKFG IH TIB<IZD ;DH NGK;G ;DRKI VCIK HRUBKG<B;I;= #RQI< <GK HI< TBKFRCI< ;DH CDFIYHG ;D HI #GHD;I; ;D HI 0IFD;CIH;D ._cBEGS ;D<FIEIK;G HI %CIEBLK DK DH aRDCFG Q HI 2HIVDHIEBLK=

*K HI 0IFD;CIH ;D HI WDEBKI 7RIFDUIHI <D aIK ;GERUDKFI;G WICBG< ERI;CG< <RQG<=#D FCIFI ;D RKI <DCBD ;D TBKFRCI< ;D;BEI;I< I HI OB;I ;D HI OBCVDK Q ;G< VCIK;D<HBDKbG<S ;D UIVKMNBEI NIEFRCIS NDEaI;G< DK fisp EGK DH $CBRKNG ;D HI "VHD<BI Q DH ;D HI*REICB<FMIS BK<TBCI;G< DK HG< VCIYI;G< ^RD -GHtDCF ;BWRHVL ;D HG< EICFGKD< ;D &RXYDK< TICI HG< FITBED< ;D HI< )D<EIHbI< &DIHD< ;D .I;CB;= 2BKIHUDKFDS FIUYB_K ERHFBWLDH CDFCIFG EGUG DH ;DH GYB<TG -GaLC^RDb=

-IHFI<IC ;D *EaIWD &BGZIS D< DH kHFBUG VCIK FDKDYCB<FIS IR^RD ;DCBWL aIEBI RKYICCGEG U\< FDIFCIH Q DNDEFB<FIS ;D IaM ^RD <DI FDKB;G EGUG RKG ;D HG< CD<TGK<IYHD<;DH TI<G ;DH FDKDYCB<UG bRCYICIKD<EG IH YICCG^RB<UG THDKGS I HG OIH;_< +DIHS ERQGUDZGC CDTCD<DKFIKFD DK ._cBEG <DC\ 0CB<FLYIH ;D OBHHIHTIK;G= )B<EMTRHG ;D eG<_ eR\XCDb D aBZG Q KBDFG ;D TBKFGCD<S KIEBL DK HI EITBFIH UDcBEIKI DK fip? Q URCBL DK fij?SEDCCIK;G ;BVKIUDKFD HI ;BKI<FMI ^RD EGUDKbL <R IYRDHG *EaIWD %CBG= #R GYCI EGKGXEB;I D< U\< YBDK D<EI<IS UI< <RNBEBDKFD TICI WIHGCIC DH WBVGC Q DUTI^RD ;D <R TBKFRCISIRK^RD <R ;BYRZG D< ;_YBH Q <R< NBVRCI< BKEGK<B<FDKFD<=

*K DH .RKIH <D VRIC;I <R *KFBDCCG ;D 0CB<FGS ;D FDIFCIH BHRUBKIEBLKS Q DH .ICFBCBG;D #IK 3D;CG ;D 'CYR_<S DKEICVG ;DH #IKFG %NBEBG= *K DH CDFIYHG ;D #IK 3D;CG ;D HI0IFD;CIH 3CBUI;I ;D ._cBEG FDKDUG< EBKEG HBDKbG< ;D;BEI;G< I #IKFI $DCD<I= #BKDUYICVGS <R< GYCI< U\< NIUG<I< Q EGKGEB;I< <GK HG< FCD< VCIK;D< HBDKbG< ;D HI <IECB<XFMI ;D HI 0IFD;CIH ;D 3RDYHIS ;D EGCCDEFG ;BYRZG Q EGKFCI<FI;G EGHGCB;G= )D;BEI;G< IHG< $CBRKNG< ;D HI *REICB<FMI Q ;D HI "VHD<BIS <BVRBDK;GS RKI WDb U\<S HG< EICFGKD< ;D&RYDK< TICI HI< )D<EIHbI< &DIHD< ;D .I;CB;=

f=?= *H THDKG YICCGEG= +G< TBKFGCD< ;D NBKD< ;DH `O""

+I UG;I EHICG<ERCB<FIS ;D FGKG IR<FDCGS <GUYCMG Q CDIHB<FIS DUTBDbI I TDC;DC NRDCbII TICFBC ;DH kHFBUG FDCEBG ;DH <BVHG `O""S QI DK DH THDKG YICCGEGS CDFGCK\K;G<D I HIUIKDCI HRUBKG<IS B;DIHB<FI Q ;BCDEFIS FIK FCI;BEBGKIH DK DH URK;G TBEFLCBEG KGWGaB<TIXKG= 2RD RK FC\K<BFG TCGVCD<BWGS DK DH ^RD FRWBDCGK UREaG ^RD WDC HG< KRDWG< IBCD<^RDS TCGWDKBDKFD< ;D HI 3DKMK<RHIS <D EGUDKbIYIK I <DKFBCS I <IYDCS DH D<FBHG IVCI;IYHDQ DUGFBWG ;D .RCBHHG Q DH ICFD <RYHBUDS CBEG Q EGUTHDZG ;D OIH;_< +DIHS BKEHR<G <D ;IDH aDEaG ;D ICFB<FI< ^RD ERHFBWIK EGK DH UB<UG IEBDCFG HI< ;G< FDK;DKEBI<

*<FI <BKVRHIC DFITIS RKI ;D HI< U\< VHGCBG<I< ;D HI TBKFRCI KGWGaB<TIKIS D<F\ Y\<BXEIUDKFD CDTCD<DKFI;I TGC ;G< ICFB<FI< ;D EGUTHDZI TDC<GKIHB;I;S NDERK;G TBKEDH Q;D<YGC;IKFD BUIVBKIEBLK5 0CB<FLYIH ;D OBHHIHTIK;G Q eRIK 0GCCDI= eRKFG I DHHG<S KGGHWB;DUG< I GFCG<S UDKG< EGKGEB;G< Q WIHGCI;G<S ^RD EGKFCBYRQDCGK IH DKCB^RDEBXUBDKFG ;DH UGWBUBDKFG TBEFLCBEG YICCGEGS ECDIK;G RK URK;G ;D WBYCIKFD< NGCUI< QEGHGCB;G DK EGK<GKIKEBI EGK DH D<THDK;GC Q DcRYDCIKEBI ;D HI D<ERHFRCI Q ;D HIIC^RBFDEFRCI ;D HI _TGEIS IRK^RD I WDED<S HG ^RD VIKIK DK DNDEFB<UG Q ;DEGCIFBWB<UGHG TBDC;DK DK EGK<B<FDKEBI=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$g?

8KG ;D D<FG< kHFBUG< ICFB<FI< EBFI;G<S I ^RBDK HI aB<FGCBGVCINMI EGKFDUTGC\KDI HD aITCD<FI;G TGEI IFDKEBLKS D< 'KFGKBG &G;CMVRDb= 'TG;I;G DK <R _TGEI [DH $BbBIKG ;DD<FD KRDWG URK;G]S HG ^RD KG< ;I RKI B;DI ;D <R NIUI= 2RD I;DU\< RK IEFBWG;DNDK<GC ;DH VCDUBG ;D TBKFGCD<S aI<FI DH TRKFG ;D ^RDS ZRKFG I eG<_ &G;CMVRDb0ICKDCGS DK fijfS TB;BLS IRK^RD <BK _cBFGS I HI< IRFGCB;I;D< HI CD;IEEBLK ;D RKI<KRDWI< GC;DKIKbI<S TRD< HI< ;D fAAs QI D<FIYIK ;D<NI<I;I<=

)B<EMTRHG Q QDCKG ;DH TBKFGC eG<_ `R\CDbS ;DH UIFCBUGKBG EGK <R aBZI 'KFGKBIKIEDCMIK HG< TBKFGCD< ,BEGH\< Q eRIK &G;CMVRDb `R\CDb= 0GUG <R <RDVCGS EGK<FCRQDURQ YBDK <R< NBVRCI<S CDECD\K;G<D DK HG< ;DFIHHD< U\< BK<BVKBNBEIKFD<= %YCI ;D<FIEI;ID< DH VCIK ERI;CG HI< 4KBUI< ;DH 3RCVIFGCBG ;D HI <IECB<FMI ;DH 0GKWDKFG ;D 0aRCRXYR<EG= *K DH .RKIH <D VRIC;IK FCD< ERI;CG< v#IKFG $GU\< ;D OBHHIKRDWIS #IKFG$GU\< ;D '^RBKG Q #IK 'VR<FMKvS ;D EGCCDEFI NIEFRCI Q IVCI;IYHD EGHGCB;G Q NBKIHXUDKFDS DK DH .R<DG ;D qRDC_FICGS DcB<FDK RKG< ERI;CG< ;D <IKFG<S FIH WDb CD<FG ;DRKI <DCBD ;D;BEI;I I NRK;I;GCD< ;D LC;DKD< CDHBVBG<I<=

eG<_ &G;CMVRDb 0ICKDCGS KIEB;G DK ._cBEG D aBZG FIUYB_K ;D TBKFGC v,BEGH\<&G;CMVRDb 0ICKDCGvS <R IEFBWB;I; CDYI<L EGK ECDED< DH #DFDEBDKFG<= 3BKFGC ;D ;BYRZG<DEG Q UG;DHI;G NRDCFDS RKI ;D <R< GYCI< U\< IHIYI;I< DK <R _TGEI NRD DH ICEG ;DFCBRKNG ^RDS ZRKFG EGK 'KFGKBG ;D 'HWICI;GS HDWIKFL EGK UGFBWG ;D HI HHDVI;I ;DHWBCCDQ 0GK;D ;D 3ICD;D<S CDTCD<DKFIK;G I HG< &DQD< 'bFDEI<= *K <R UI;RCDb <DFCI<HI;L I 3RDYHI ;D HG< 4KVDHD<S ^RD HG EGK<B;DCI EGUG RKG ;D <R< UDZGCD< TBKFGCD<S;D<FIEIK;G ;D DKFCD <R TCG;REEBLK5 DH $CBRKNG ;D HI 0GUTIdMI ;D eD<k<S DK HI <IECB<FMI;D HI BVHD<BI ;D HG< ZD<RBFI<S BK<TBCI;G DK DH $CBRKNG ;D HI "VHD<BI ;D &RYDK<S I<M EGUGHI< <DCBD< TICI HG< EGKWDKFG< ;D #IK eRIK ;D )BG< Q #IKFG )GUBKVG= '^RMS DK HIEITBHHI ;D HI OBCVDK ;DH &G<ICBGS D<F\ HG UDZGC ;D <R TCG;REEBLK= #GK RKI <DCBD ;DFDHI<S ;D fig@S ;D;BEI;I< I HI OB;I ;D HI OBCVDKS ;GK;D ERHFBWI HI< ;G< UG;IHB;I;D<D<FBHM<FBEI< ;DH UGUDKFG5 DH FDKDYCB<UG DK HG< ;D HI KIWDS ;D;BEI;G< I KICCIC HI WB;IFDCCDKIH ;D .ICMIS NCDKFD I HI< TBKFRCI< HRUBKG<I< ;DH ECREDCG Q \Y<B;DS GERTI;I< ;D <RVHGCBNBEIEBLK EDHD<FBIH= 2BKIHUDKFDS DK DH .R<DG OBCCDBKIH aIQ RK #IKFG ,BdG ;D HI7RIC;BI vFDUI URQ <GHBEBFI;G DK <R _TGEIv URQ <BUBHIC IH ;DH 0GKWDKFG ;D #IK'VR<FMK ;D 3RDYHI=

#GK UREaG< U\< HG< ICFB<FI<S IkK TGEG D<FR;BI;G<S IEFBWG< DK D<FD UGUDKFGS IHEIKXbIK;G IHVRKG< VCIK NIUI Q TCD<FBVBG= $IH <DCMI DH EI<G ;D I^RDHHG< <BDFD TBKFGCD< ^RDNRDCGK HHIUI;G<S DK fiiiS I ;BEFIUBKIC <GYCD DH GCBVBKIH ;D HI OBCVDK ;D 7RI;IHRTDS I<IYDC5 ,BEGH\< ;D 'KVRHGS $GU\< 0GKCI;GS ,BEGH\< ;D 2RDKHIYCI;IS #DYI<FB\K +LTDb4WIHG<S eRIK #IHVRDCGS eRIK #\KEaDb #IHUDCLK Q 'KFGKBG 'HGK<G ;D 9\CIFD= ' DHHG<TRD;DK <RUIC<D 0CB<FLYIH ;D OBHHIHTIK;G Q eRIK 0GCCDI=

OBHHIHTIK;GS TGC <R NDERK;G Q VCIK;BHGERDKFD TBKEDHS D< HI NBVRCI EDKFCIH ;D HITBKFRCI YICCGEI KGWGaB<TIKI= ,IEB;G DK HI 0BR;I; ;D ._cBEG DK NDEaI IkK ;D<EGXKGEB;IS I^RM WBWBL Q URCBL DK fsfh= 0I<I;G EGK .ICMI ;D .DK;GbIS aBZI ;DH TBKFGCTGYHIKG )BDVG ;D .DK;GbIS TCGYIYHDUDKFD <R UID<FCG ZRKFG EGK *EaIWD &BGZIS ;DDKFCD <R< aBZG<S DH YIEaBHHDC )BDVG OBHHIHTIK;G FIUYB_K <DCMI TBKFGC=

3CBKEBTIH <DVRB;GC ;DH ICFD ;D<HRUYCIKFD Q ;D<DKWRDHFG ;D OIH;_< +DIHS <R TCBUDCIGYCI ;GERUDKFI;I D< DH CDFIYHG ;D !RI^RDEaRHIS fisAS DK DH *<FI;G ;D 3RDYHI= 'TICFBC ;D I^RMS Q ;RCIKFD ERICDKFI IdG< ;D FCIYIZGS TCG;RZG RKI ;D HI< GYCI< U\<KRUDCG<I< Q HHDKI< ;D WBFIHB;I; ;D FG;I HI TBKFRCI KGWGaB<TIKI= #B YBDKS EGUG INBCUIX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# gp

CI 2CIKEB<EG ;D HI .IbIS RKG ;D <R< TCBUDCG< D<FR;BG<G<5 [TI<I ;D HI< IHFRCI< ;DHVDKBG I HI< YIZDbI< ;DH YRC;G ICFD<IKGS I<DUDZ\K;G<D FIUYB_K UREaG I OIH;_< +DIH]=.I<S I TD<IC ;D DHHGS D< DH TBKFGC U\< BUTGCFIKFD ;DH YICCGEG KGWGaB<TIKG Q DK RKUGUDKFG FIUYB_K ;DH URK;G aB<TIKGS RKI WDb ^RD aIK URDCFG HG< VCIK;D< UID<FCG<v&BYDCIS 9RCYIC\KS 0IKGS ODH\b^RDbS .RCBHHGS 0GDHHGS DFE=v .IKDZI DH TBKEDH EGKVCIK UID<FCMIS CDVIH\K;GKG< RK HDVI;G TBEFLCBEG DcRYDCIKFD DK DH EGHGC Q DK HI<NGCUI<S IRK^RD DWB;DKFDUDKFD FIK IUTHBI Q DcFDK<I TCG;REEBLK KG <D TRD;D DKFDKX;DC <BK HI IQR;I ;D RK IEFBWG Q TCGHMNBEG FIHHDC EGK KRUDCG<G< ITCDK;BED< Q GNBEBIHD<=

*<FR;BIC <R GYCI KG< HHDWICMI I CDEGCCDC DH 3IM< DKFDCG vBVHD<BI<S EIFD;CIHD<S EGKXWDKFG<S UR<DG< Q EGHDEEBGKD< TICFBERHICD<vS UI< TICI FDKDC RK ITCGcBUI;G EGKGEBXUBDKFG ;D <R YRDK aIEDCS FIH WDb KG< YI<FD EGK IEDCEICKG< I HI <IECB<FMI ;D HI 0IFD;CIH.DFCGTGHBFIKI ;D ._cBEGS ;GK;D FDKDUG< IHVRKI< ;D <R< EGUTG<BEBGKD< U\< VCIKX;BG<I<= 2DEaI;I<S DK HI GEFIWI ;_EI;I ;DH <BVHG `O""S <GK ;D BK<TBCIEBLK CRYDK<BIKI QURQ <BUBHICD< I HI< CDIHBbI;I< TGC 3D;CG &IUMCDb Q *EaIWD &BGZIS DK 7RIFDUIHI Q3RDYHI ;D HG< 4KVDHD<S CD<TDEFBWIUDKFD= #GK ERIFCG VCIK;D< HBDKbG<5 HI "VHD<BI .BHBXFIKFD Q HI $CBRKNIKFDS DH $CBRKNG ;D HI &DHBVBLKS HI 'TICBEBLK ;D #IK .BVRDH Q HI .RZDC'TGEIHMTFBEIS ;GK;D FDKDUG< HI U\< YDHHIS aDCGBEI D BUTDFRG<I BUIVDK ^RDS DK FG;I HI,RDWI *<TIdIS <D TBKFICI ;DH 'CE\KVDH #IK .BVRDH Q DH FCBRKNG ;D #IK .BVRDH= $CIYIX ZL DK KRUDCG<I< GEI<BGKD< TICI HI 0GUTIdMI ;D eD<k<S FIKFG TICI HI 3CGND<IS ;GK;DCDIHBbL RKI <DCBD ;D;BEI;I I HI 3I<BLK ;D 0CB<FGS EGUG TICI DH KGWBEBI;G ;D $DTGFbGXFH\KS IaGCI EDKFCI;G DK HI OB;I ;D #IK "VKIEBG= "VRIHUDKFD HG aBbG TICI HG< ;GUBKBEG<Q NCIKEB<EIKG<= %FCI GYCI DcEDTEBGKIHS ^RD KG< TDCUBFD WIHGCIC <R a\YBH UIKDZG ;D HG<

O"#$' 7*,*&'+ )* +' 0'3"++' )*+ &%#'&"%= #',$% )%.",7%S38*-+' )* +%# 4,7*+*#=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$gh

EGKFCI<FD< HRUMKBEG<S aGK;I CDHBVBG<B;I; Q EGCCDEFG ;BYRZGS <DCMIK HG< ERI;CG< ;D HI<IECB<FMI ;D HI BVHD<BI ;DH *cEGKWDKFG ;DH 0ICUDK ;D #IK 4KVDHS DK HI 0BR;I; ;D._cBEG Q <GYCD FG;G HI VCIK EkTRHI ;D HI 0ITBHHI ;D HG< &DQD< ;D HI 0IFD;CIH ;D3RDYHIS ;D;BEI;I I HI VHGCBNBEIEBLK ;D HI OBCVDK .ICMIS ;GK;D HI HRUBKG<B;I; IHEIKbII <R THDKBFR; Q ITGFDG<B<= *H CDFCIFG ;DH ICbGYB<TG 'VRBHIC Q #DBZI< D< RK DZDUTHG ;D<R< ;GFD< TICI D<FD V_KDCGS Q DK <R OB<FI ;D HI 3HIbI .IQGC ;D HI 0BR;I; ;D ._cBEGSKG< ;DZI RKI TGCUDKGCBbI;I ECLKBEI ;D HI WB;I EGFB;BIKI I NBKIHD< ;DH <BVHG `O""=

2BKIHUDKFDS Q TCRDYI ;D HI DKGCUD D<FBUI Q CD<TDFG ^RD <D HD FRWG DK <R \UYBFG<GEBGTCGND<BGKIHS <DdIHIC ^RD ;D<;D fiji GERTL BKBKFDCCRUTB;IUDKFD DH IHFG TRD<FG;D WDD;GC Q IHEIH;D ;DH VCDUBG ;D TBKFGCD<=

eRIK 0GCCDIS UBDUYCG ;D RKI DcFDK<I NIUBHBI ;D TBKFGCD<S D< RKG ;D HG< TCBUDCG<ICFB<FI< URHIFG< EGKGEB;G< vDH TI;CD DCI U_;BEG Q <R UI;CD RKI UGCDKI HBYCDv=)D<EGKGEDUG< <R NDEaI ;D KIEBUBDKFGS IRK^RD ;DYBL <DC aIEBI fihsS NIHHDEBDK;G DKfsfi= #R TBKFRCI GNCDED YI<FIKFD< <DUDZIKbI< EGK OBHHIHTIK;GS TGC HI NIEBHB;I; Q<GHFRCI DK DH UIKDZG ;DH TBKEDHS DK HI NBCUDbI ;D IHVRKG< FG^RD< Q DK <R CBEG EGHGCB;GSIRK^RD I WDED<S ;DYB;G FIH WDb I HI KDED<B;I; ;D ERUTHBC EGK <R< UREaG< DKEICVG<S<R EIHB;I; TCD<DKFI IHFBYIZG<=

0CDI;GC ;D RK IUTHBG FIHHDC EGK RKI TCG;REEBLK URQ DcFDK<IS FIUYB_K TBKFL VCIKX;D< HBDKbG< TICI HI 0IFD;CIH ;D ._cBEGS DKFCD fijg Q figf= )D<FIEIUG< HI '<RKEBLK

0&"#$J-'+ )* O"++'+3',)%= 0r38+' )* +' 0'3"++' )* +%# &*1*#=

0'$*)&'+ )* 38*-+' )* +%# 4,7*+*#=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# gA

Q 0GCGKIEBLK ;D HI OBCVDK Q HI DKFCI;I ;D eD<k< DK eDCR<IH_K DK HI <IECB<FMIS DK DH EGCGDH 'TGEIHBT<B<S TDC;B;I DK DH BKEDK;BG ;D fgis QS IHVG U\< FIC;MI<S HI< TBKFRCI< ;D HG<CDFIYHG< HIFDCIHD< ;D HI 0ITBHHI ;D HG< 4KVDHD<=

,G GY<FIKFDS EGUG FCIYIZG FGFIHUDKFD BKKGWI;GCS ;GK;DS I;DU\<S KG< URD<FCI <R BKFDXC_< TGC FDUI< FGFIHUDKFD KRDWG<S D< DH YBGUYG ;D;BEI;G I HI< ICFD< HBYDCIHD<S TGC RK HI;GS QTGC DH GFCG I HG< ERIFCG DHDUDKFG< ;D HI KIFRCIHDbI v.R<DG 2CIKb .IQDC ;D 0BR;I; ;D._cBEGv G DH ̂ RD HHDWI TGC FMFRHG DH *KERDKFCG ;D 0GCF_< Q .GEFDbRUI Q IHDVGCMI ;D HG<ERIFCG EGKFBKDKFD< v2GUDKFG 0RHFRCIH -IKIUDcvS ;GK;D INHGCI <R WDKI KIFRCIHB<FI QTIB<IZM<FBEI DK B;MHBEI< WB<FI<= *<FD BKFDC_< TGC DH TIB<IZD D<F\ FIUYB_K TCD<DKFD DK HG< KRUDXCG<G< ZIC;BKD< Q IWD< ̂ RD ITICDEDK BK<B<FDKFDUDKFD DK <R< EGUTG<BEBGKD<S EGUG DH <RDdG;D #IK eG<_ ;DH .R<DG ;D 0aRCRYR<EGS DK HI .IV;IHDKI TDKBFDKFD ;DH .RKIH G DK HI FIYHIEGK HI *cTRH<BLK ;DH 3ICIM<G ;DH .R<DG ,IEBGKIH ;DH OBCCDBKIFG=

f=p= +I D<ERDHI TGYHIKI

)D<;D <R NRK;IEBLKS 3RDYHI ;D HG< 4KVDHD<S HI <DVRK;I EBR;I; DK BUTGCFIKEBI ;DHWBCCDBKIFGS NRD RK EDKFCG ICFM<FBEG ;D VCIK BUTGCFIKEBIS ;BVKG ;D EGUTDFBC EGK HIEITBFIH= .I< D< IaGCIS DK HI <DVRK;I UBFI; ;DH <BVHG `O""S ERIK;G RKI <DCBD ;D ;D<FIXEI;G< ICFB<FI< aIEDK ^RD <GYCD<IHVI RKI TRZIKFD D<ERDHI ;D TBKFRCI=

,DED<ICBIUDKFDS aIQ ^RD EGUDKbIC TGC DH TGHBNIE_FBEG 3D;CG 7ICEMI 2DCCDC= ,IFRCIH;D 'HEGCB<IS DK $DCRDHS HHDVI EGK DH GYB<TG )= eRIK 3IHINGc Q .DK;GbIS EGHIYGCIK;G;DEB;B;IUDKFD DK HI< GYCI< ;D HI EIFD;CIH= ' _H <D HD ;DYD HI VCIK EkTRHI ;DH ECREDCGSI<M EGUG <R TICFBEBTIEBLK DK DH CDFIYHG ;D HI 0ITBHHI ;D HG< &DQD<= )D;BEI;G I DcIHFICI UGKICEI< ^RD aIK IHEIKbI;G HI <IKFB;I;S I FCIW_< ;D D<ERHFRCI<S GYCI ;D +REI<._K;DbS Q I HI OB;I ;D 0CB<FG Q .ICMI UD;BIKFD HI< TBKFRCI< ;D 7ICEMI 2DCCDC= *K FGFIH<GK <DB< HBDKbG<S <GYCD<IHBDK;G DH ERI;CG EDKFCIHS ;D VCIK;D< TCGTGCEBGKD<S EGK<IVCIX;G I HI "KUIERHI;I 0GKEDTEBLKS <GYCD _H HI 0GCGKIEBLK ;D .ICMI Q GFCG< UDKGCD<SEGUG HI ';GCIEBLK ;D HG< 3I<FGCD< Q ;D HG< &DQD< .IVG<S FG;G< ;D FGKG IR<FDCG QFDKDYCB<FIS URQ DK HI HMKDI ;D &BYIHFI=

eRKFG I _H D<F\ DH NHIUDKEG )BDVG ;D -GCVCINS ^RBDK FIUYB_K HHDVL I 3RDYHI DK DH<D^RBFG ;DH GYB<TG 3IHINGc= )D <DEG ;BYRZG Q EGCCDEFG DK HI< NGCUI<S <R< TIB<IZD<SEGUG YRDK NHIUDKEGS <GK CDIHUDKFD DcEDTEBGKIHD< Q <BCWI EGUG DZDUTHG DH ^RD DKXWRDHWD I <R #IK 'TDHD<S DK DH .R<DG 8KBWDC<BFICBG ;D 3RDYHI=

eRIK $BKGEGS EGK<B;DCI;G D<TIdGH ;RCIKFD UREaG FBDUTG TGC <R NRDCFD IEDKFGbRCYICIKD<EGS aGQ <D <IYD ^RD NRD TGYHIKG ;D KIEBUBDKFG= -RDK ;BYRZIKFD Q URQa\YBH DK DH UIKDZG ;DH EGHGCS DK DH .R<DG 8KBWDC<BFICBG ;D 3RDYHI <D VRIC;I RK'TG<FGHI;GS CDIHBbI;G I TICFBC ;D HG< VCIYI;G< ;D +REI< ;D +DQ;DK= 'RK^RDS <R #IKeDCLKBUGS ;DH .R<DG ;D 0aRCRYR<EGS D<F\ U\< TCLcBUG I &BYDCI=

2BKIHUDKFDS GFCG< KGUYCD< BK<BVKD< <DCMIK DH TCGHMNBEG HDVG NCIKEB<EIKG 2CIQ )BDVG ;D-DEDCCIS IRFGC ;D RKI OB;I ;D #IK 'VR<FMK vaGQ DK UIKG< TICFBERHICD<v Q URQ EDCEIKID<FBHM<FBEIUDKFD I eG<_ ̀ R\CDbS Q 'KFGKBG #IKFIK;DC= *H ;BYRZG ;D _<FD D< ;RCG Q UDFBERHGX<GS IRK^RD <R TIHDFI D< URQ CBEIS EGUG <D ITCDEBI DK <R #IK .BVRDH ;DH .R<DG ,IEBGKIH;DH OBCCDBKIFG= 3CDEB<IUDKFD _H Q ,BEGH\< 0GCCDI vTCBUG aDCUIKG ;D eRIK 0GCCDIv <GK;D HG< TCBKEBTIHD< ERHFBWI;GCD< ;D HI TBKFRCI ;D DKEGKEaI;G<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$gi

3*)&% 7'&06' 2*&&*&= ')%&'0"J, )* +%# 3'#$%&*# = &*$'-+% )* +' 0'3"++')* +%# &*1*#S 0'$*)&'+ )* 38*-+' )* +%# 4,7*+*#=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# gs

e8', $",%0%= #',$"'7% *+ .'1%&= .8#*% )* +' 8,"O*&#")')S38*-+' )* +%# 4,7*+*#=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$gj

f=h= &DFIYHG< Q D<ERHFRCI

0GUG <D ;BZG DK HI BKFCG;REEBLKS aI<FI YBDK IWIKbI;G DH <BVHG `O""S DK HI D<FCREXFRCIEBLK ;DH CDFIYHG TDCWBWD DH B;DIH CDKIEDKFB<FIS D< ;DEBC DH D<^RDUI ;D YIKEGSTB<G< Q EIHHD<S GCVIKBbI;G IC^RBFDEFLKBEIUDKFD= "KEHR<GS TG;C\K <DC VCIK;D< U\^RBXKI<S TDCG EI<B <BDUTCD ;DKFCG ;D D<FG< TIC\UDFCG<= .D;BI;I HI EDKFRCBI <D BUTGKD HIEGHRUKI <IHGULKBEIS IRK^RD KG EGK RK FGFIH Q IY<GHRFG TCD;GUBKBGS TRD< KGCUIHXUDKFD <D IHFDCKI EGK HI< FCI;BEBGKIHD< aDCD;I;I< ;DH URK;G EH\<BEGl <BK DUYICVGS DK<R ;D<ICCGHHG <RYQIED DH D<^RDUI <DdIHI;G= ' HG U\< <D CGUTDK HG< NCGKFGKD< G <DERCWIK HG< DKFIYHIUDKFG< ;D HI EIHHD UD;BIHS IEDKFRIK;G Q TGFDKEBIK;G <R IcBIHBX;I;S D<FIK;G HI KGWD;I; DK D<I THDFLCBEI Q EGUTHDZI ;DEGCIEBLK WDVDFIH Q VDGU_XFCBEIS ^RD HDKFIUDKFD HG BKWI;BC\ FG;GS aI<FI HHDVIC IH aGCCGC WIERB = 0GUG D< KGCUIHSDH CDFIYHG D< RKI GYCI URQ EGUTHDZIS ;GK;D HI BUIVDK DK <M KG FBDKD RK FCIFIUBDKFGURQ D<TDEBIH TRD< NGCUI TICFD ;D D<D VCIK EGKZRKFGS ^RD <D DHIYGCI DK EGUTHDZG<FIHHDCD<S I ERQG NCDKFDS IaGCIS Q DK HI UIQGCMI ;D HG< EI<G< <DVRBC\ D<FIK;G RKINIUI;G DK<IUYHI;GC= #DC\ FIUYB_K ;D D<FG< UB<UG< EDKFCG< ;D TCG;REEBLK Q CD<XTGK;BDK;G I HG< UB<UG< TIC\UDFCG< D<FBHM<FBEG< ;D ;GK;D <IHVIK HG< VCIK;D< TCGVCIXUI< ;DEGCIFBWG<S IaGCI DK TBD;CIS ;D TGCFI;I<S ;D FDUTHG< Q EIFD;CIHD<S <BDK;G HG<EI<G< ;D HI 0IFD;CIH .DFCGTGHBFIKI ;D ._cBEG Q ;D HI ;D 3RDYHI HG< U\< CDTCD<DKXFIFBWG<S I<M EGUG <BHHDCMI< ;D EGCGS EIZGKDCMI< Q GFCG< URDYHD< KDED<ICBG< DK DH IZRICHBFkCVBEG=

3ICI HI BUIVDK ;D YRHFG CD;GK;G ;D FBTG ;DWGEBGKIH <D <DVRBC\ TCDNBCBDK;G HI TI<FI;D UIMbS TGHBECGUI;I Q D<FGNI;IS IRK^RD EGK DH FBDUTGS TICI ;ICHD RK UIQGC CDIHB<UG<D HD IdI;D IHVRKG< TG<FBbG<S EGUG TDHG KIFRCIHS ;BDKFD< ;D UICNBHS GZG< ;D ECB<FIH QCBEI< WD<FB;RCI<S TD<D I HI DcTCD<I TCGaBYBEBLK ;D HG< <MKG;G< ;BGED<IKG<= #BVRDK<BDK;GS EI<B <BDUTCDS GYCI< IKLKBUI<S TRD< DH D<ERHFGCS ^RD I TICFBC ;D fs@A FDK;C\ <RTCGTBG VCDUBG Q GC;DKIKbI<S <GEBIHUDKFD D< EGK<B;DCI;G <GHIUDKFD RK YRDK ICFD<IXKG= $IUYB_K <D <DVRBC\K BUTGCFIK;G GYCI<S D<TDEBIHUDKFD ;DH \UYBFG <DWBHHIKGS EGUGTRD;D <DC DH #IKFG ,BdG 0IRFBWGS ;D HI 0IFD;CIH ;D ._cBEGS IFCBYRB;G EGK NRK;IUDKXFG I .ICFMKDb .GKFId_<= ,G GY<FIKFDS IaGCI <D VDKDCIHBbIC\K KRDWG< UIFDCBIHD< EGUGDH UICNBHS BUTGCFIK;G ;D 2BHBTBKI< HI< FIHHI< QI aDEaI< G DHIYGC\K;GHI< DK HI ,RDWI*<TIdIS IRK^RD DH UICNBH <LHG <D DUTHDICMI TICI I^RDHHI< TICFD< U\< <BVKBNBEIFBWI<vEIYDbIS UIKG< Q TBD<vl HI EDCI TICI DKEICVG< ;D TD^RDdG NGCUIFGS DH FDEIHB R GFCGFBTG ;D TBD;CI vHI ;D 0aBHREI NRD URQ ;DUIK;I;I TICI HG< VCIK;D< TCGVCIUI< ;D HI<NIEaI;I<v=

*K DH EI<G ;D HI CDFIYHM<FBEIS DKFCD IHVRKI< GYCI< <BVKBNBEIFBWI< TGC HI BKNHRDKEBI^RD FDK;CMI DK <R DKFGCKGS EBFICDUG< DH UIQGC ;D HI 0IFD;CIH ;D 3RDYHI= 2CRFG ;DHUDEDKIbVG ;DH %YB<TG 3IHINGc Q .DK;GbIS CD<TGK;D IH TCBUDC UG;DHG TCGTRD<FG=0GK<FCRB;G DK FDEIHB vDH IHIYI<FCG IRFLEFGKGvS Q NGCUI;G TGC YIKEGS VCIK ERDCTGEDKFCIH DK ICEG ;D FCBRKNGS Q \FBEGS <GHIUDKFD DK DH <DVRK;G TB<G KG< ITICDEDK HI<<IHGULKBEI<S UBDKFCI< DK DH YIKEG <GK TBHI<FCI< ZLKBEI< Q DK DH \FBEG EGHRUKI<EGCBKFBI<= +I< TBKFRCI< <GK GYCI ;DH EH_CBVG 7ICEMI 2DCCDCS HI< D<ERHFRCI< ;D +REI<._K;Db Q DK ERIKFG I <R FCIbI <D aI IFCBYRB;GS FCI;BEBGKIHUDKFDS I .ICFMKDb .GKXFId_<S DK YI<D I RKI CDNDCDKEBI HBFDCICBI ;DH GYB<TG 3IHINGcS IRK^RD DK <R EGKNBVRXCIEBLK IEFRIH <D IHDZI UREaG ;D <R< TCGTRD<FI< CDFIYHM<FBEI<= $IH IHDZIUBDKFG D<



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# gg

e8', .'&$6,*9 .%,$'P/# :'$&"-8")%>= ,"P% e*#r# 0'8$"O% =#'0&"#$6' )* +' 0'$*)&'+S ./`"0% )=2==

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f@@

;DYB;G I HI VCIK CDUG;DHIEBLK ^RD <RNCBL HI D<FCREFRCI ;DH CDFIYHG I UD;BI;G< ;DH<BVHG `"`S I NBK ;D I;ITFIC DH UG;DHG UGKFIdD<BKG I HG< VR<FG< KDGEH\<BEG<= "KEHR<GSHI OBCVDK ;D HI )DNDK<IS ^RD GERTI DH FIYDCK\ERHG ;DH YIKEGS IY<RC;IUDKFD WD<FB;ISD< DK DH NGK;G RKI "KUIERHI;I URQ <DWBHHIKI Q URQ UGKFIdD<BKI= '^RDH TCBUDCCDFIYHG ;DH ^RD <D EGK<DCWI RK UIVKMNBEG VCIYI;G ;D fiAfS GYCI ;D e= ;D ,GGCFSFRWG ^RD <DC RK YRDK DZDUTHG ;DH THDKG YICCGEG vHI BUIVBKDCMI KG <D WBG IHFDCI;IDK KI;Iv Q FRWG RKI IUTHBI ;BNR<BLK DK <R DKFGCKG Q DK <R _TGEI vRKI EGTBIURQ HDZIKI DK DH FBDUTGS TRD< TDCFDKDED QI IH <BVHG `O"""S D< DH CDFIYHG ;D HI 3ICCGX^RBI ;D #IK eG<_ ;D 0aBITIS FIUYB_K DK DH *<FI;G ;D 3RDYHIS HGEIHB;I; ;GK;DCD<B;BL IHVkK FBDUTG DH %YB<TG 3IHINGcv=

.RQ TCLcBUG D<FBHM<FBEIUDKFD IH TCBUDC CDFIYHG TGYHIKG D< DH UIQGC ;DH 0GKWDKFG;D #IKFG )GUBKVGS GYCI ;D 3D;CG .IH;GKI;G= 0GK YIKEGS FCD< EIHHD< Q ;G< DKFCDEIXHHD<S DK HI UD;BIH ;D<FIEI DH VCIK FIYDCK\ERHG DREICM<FBEGS I<M EGUG DH ^RD FG;G <GKD<ERHFRCI< ;D <IKFG< ;D HI< LC;DKD< UDK;BEIKFD<= +I <IHGULKBEI GERTI DH TCBUDCTB<GS UBDKFCI< DK HI< CD<FIKFD< <GK <GTGCFD< EH\<BEG<S TCD<DKFIK;G HI< ;DH TDKkHFBUGTB<G DH NR<FD EGK UGH;RCI< DK bBVXbIVS ;D FIKFI NGCFRKI I TG<FDCBGCB DK TGCFI;I< Q<GTGCFD< ;D BVHD<BI<=

3GC D<FI< NDEaI< vkHFBUG FDCEBG ;DH #DB<EBDKFG<vS RKI WDb TC\EFBEIUDKFD IEIYI;IFG;I HI NIEaI;I ;D HI EIFD;CIH UDFCGTGHBFIKI v._cBEGvS <D CDIHBbIK VCIK EIKFB;I;;D CDFIYHG< TICI <R< ;B<FBKFI< EITBHHI< vHI ;D #IK 3D;CGS #IK .BVRDHS #IK 0G<UD Q#IK )IUB\KS HI #GHD;I;S DFE=vS ;D<FIEIK;G TGC <R <BKVRHICB;I; HG< ;G< TCBUDCG<SCDIHBbI;G< DK DH FIHHDC ;DH TGHBNIE_FBEG ICFB<FI $GU\< `R\CDbS <B YBDK DH <DVRK;G <DTDC;BL DK RK BKEDK;BG= *H ;D;BEI;G IH 3CMKEBTD ;D HG< 'TL<FGHD<S ;GK;D DcEDTFG HIBUIVDK ;D WD<FBC ;DH FBFRHICS ;GUBKI HI TBKFRCIS TCD<DKFI YIKEGS FCD< TB<G< Q EIHHD<SIHFDCKIK HI< <IHGULKBEI< EGK HI< EGCBKFBI<S BKEHR<G DK DH kHFBUG ERDCTG Q DK <R EIHHDUD;BIHS ^RD ^RD;I HBYCD TICI IEGVDC HI WDKFIKIS RFBHBbI VCIK;D< D<FMTBFD< IKFCGTGUGCXNG<= 'H YRDK aIEDC ;D `R\CDbS ERQI IEFBWB;I; HHDVI aI<FI TCBKEBTBG< ;DH <BVHG `O"""S <D;DYDK FIUYB_K ;G< BKFDCD<IKFD< CDFIYHG< ;D $HIUIKIHEG vDH TCBKEBTIHS EGK RK UIVKMXNBEG EGKZRKFG D<ERHFLCBEGS Q GFCG UDKGC HIFDCIH ;D;BEI;G IH ,IbICDKGvS I<M EGUG HI<BHHDCMI ;D EGCG ;D HI 0IFD;CIH ;D )RCIKVGS ERCBG<IUDKFD EGK <R BUIVBKDCMI TGHBECGUIX;I=

*K ERIKFG I HG< ICFMNBED<S UREaG< <GK HG< UID<FCG< D<ERHFGCD< Q DK<IUYHI;GCD<S;RDdG< ;D IEFBWG< FIHHDCD<S ^RD TG;CMIUG< FCIDC I EGHIEBLK DK D<FG< UGUDKFG<S UI<<GHIUDKFD EBFICDUG< I #IHWI;GC ;D %EIUTG Q I eRIK ;D &GZI<S ERQI IEFBWB;I;S CDYI<IFIUYB_K EGK ECDED< DH #DB<EBDKFG<= *H TCBUDCGS QDCKG ;DH IKFDCBGCS D< IRFGC ;D RKG ;DHG< CDFIYHG< U\< aDCUG<G< ;DH ICFD YICCGEG KGWGaB<TIKG5 <D FCIFI ;DH UIQGC ;DH EGKXWDKFG IVR<FBKG ;D HG< #IKFG< &DQD< ;D .DbFBFH\K= 0GUTRD<FG ;D YIKEGS FCD< EIHHD<S;G< TD^RDdI< DKFCDEIHHD< Q \FBEGS <D EGUYBKI HI D<ERHFRCI Q HI TBKFRCIS <BDK;G _<FIGYCI ;D ,BEGH\< &G;CMVRDb eR\CDb= *K <R FIHHDC <D aBbG HI VCIK <BHHDCMI ;DH IKFBVRG0GKWDKFG ;D #IK 'VR<FMK ;D HI 0BR;I; ;D ._cBEGS TGC NGCFRKI EGK<DCWI;IS IRK^RDYI<FIKFD UDCUI;IS <GYCD<IHBDK;G RKI <DCBD ;D CDHBDWD< EGK FDUI< EHIWD< ;DH 'KFBVRG$D<FIUDKFGS BK<TBCI;G< DK VCIYI;G< ;D eRIK ;D e\RCDVRB= 'H <DVRK;G ;D HG< ICFB<FI<UDKEBGKI;G<S eRIK ;D &GZI<S ITICFD ;D KRUDCG<G< CDFIYHG<S HD ;DYDUG< HI <BHHDCMI ;DEGCG ;D HI 0IFD;CIH ;D ._cBEGS DK TICFD CDaDEaI IH WDC<D INDEFI TGC DH BKEDK;BG ;Dfgis=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f@f

#'+O')%& )* %0'.3%S ,"0%+4# &%)&678*9 `84&*9 1 %$&%#= &*$'-+%.'1%&= "7+*#"' )* +%# #',$%# &*1*#S .*9$"$+4,=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f@?

)DZIK;G IH UICVDK HI D<ERHFRCI ;DWGEBGKIH I HI ^RD QI <D aBbG CDNDCDKEBIS ;DKFCG;D HI D<ERHFRCI IC^RBFDEFLKBEI TG;DUG< <DdIHIC FCD< NGEG< VDGVC\NBEG< NRK;IUDKFIHD<=*H TCBUDCG D<S HLVBEIUDKFDS HI 0BR;I; ;D ._cBEGS EGK TBDbI< FIK DUYHDU\FBEI< EGUGDH VCIK CDHBDWD ;D HI NIEaI;I TCBKEBTIH ;D HI IKFBVRI BVHD<BI ;DH 0GKWDKFG ;D #IK'VR<FMKS ;GK;D KG< URD<FCI IH #IKFG EGUG TCGFDEFGC ;D HI %C;DKS <DVkK DH VCIYI;G;D #EaDHFD ;D -GH<tDCFS Q HI< TGCFI;I< ;D HG< TBD< ;DH $DUTHG 0IFD;CIHBEBGS ERQG<CDHBDWD< vDK HI EDKFCIH HI '<RKEBLKS Q DK HI< HIFDCIHD<S HI DKFCDVI ;D HI< HHIWD< I 3D;CGQ HI ,IWD ;D HI "VHD<BIS CD<TDEFBWIUDKFDvS Q D<ERHFRCI< ;D HI< aGCKIEBKI<S GYCI ;D.BVRDH Q ,BEGH\< eBU_KDbS <GK ;D RK IEDKFRI;G UGWBUBDKFG IRK^RD ;D BKNDCBGC EIHBX;I;= *H <DVRK;G EDKFCG D< DH ;D 3RDYHIS ERQI< UIKBND<FIEBGKD< U\< BUTGCFIKFD< <DCMIKFIUYB_K HI< TGCFI;I< ;D HI EIFD;CIHS ;GK;D FCIYIZL DH D<ERHFGC eRIK ;D #GH_ 7GKb\HDbSQS DK FDCEDC HRVICS %IcIEIS EGK DH VCIK CDHBDWD ;D HI NIEaI;I ;D HI "VHD<BI ;DH 0GKWDKXFG ;D #IK 'VR<FMKS URQ <DUDZIKFD IH EBFI;G ;D ._cBEGS I<M EGUG TGC <R VCIK ;D<THBDXVRD GCKIUDKFIH HI NIEaI;I ;D HI "VHD<BI ;D HI #GHD;I;S ERQG< FDUI< vHI #GHD;I; ;D

.ICMIS HI "KUIERHI;I G HI #IKFI 2Ibv KG< URD<FCI I <R ECDI;GC $GU\< ;D #BVuDKbIURQ NBDH <DVRB;GC ;D D<FIUTI< TGTRHICD<=

j= #'+O')%& )* %0'.3%= #"++*&6' )* 0%&%= *`0%,O*,$% )* #', '78#$6,S./`"0% )=2==



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f@p

2'0!')'= "7+*#"' )* +' #%+*)')S %'`'0'=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f@h

?= *+ #"7+% `O"""5 *,$&* *+ -'&&%0% 1 *+ &%0%0J

'H BVRIH ^RD DK HI 3DKMK<RHIS DH <DVRK;G Q FDCEDC ERICFG ;DH #DFDEBDKFG< D< RKI_TGEI ;D IRF_KFBEI NDERK;B;I; ICFM<FBEIS DK VCIK UD;B;I NCRFG ;D HI VCIK TCG<TDCB;I;DEGKLUBEI ^RD ;B<NCRFI HI <GEBD;I; KGWGaB<TIKIS ERQI HIYGC ;D UDEDKIbVG <D BKECDXUDKFIC\S DK D<TDEBIH DH CDHBVBG<G G NIWGCDEBDK;G DH ERHFBWG ;D IHVkK V_KDCG URQEGKECDFGS EGUG TRD;D <DC DH CDFCIFG G HI HHIUI;I TBKFRCI ;D EI<FI<= 'H UB<UG FBDUTGFGUIK EICFI ;D KIFRCIHDbI RKI <DCBD ;D CI<VG< TCGTBG<S ^RD QI ITRKFIYIK DK DH <BVHGIKFDCBGCS Q ^RD HD ;IC\K I HI< ICFD< DK VDKDCIH RK IBCD URQ TDC<GKIH= *K DH EI<G ;D HITBKFRCIS ITICFD ;D RK UIQGC ;BKIUB<UG DK DH ;D<ICCGHHG ;D HI< EGUTG<BEBGKD<S HI VIUIECGU\FBEI <D IUTHBIS ITICDEDK G <D TGFDKEBIK KRDWG< FDUI<S UBDKFCI< DK HI CDFIYHM<FBEI<D BUTGKDS EGK eDCLKBUG -IHY\< Q <R D<ERDHIS DH D<FMTBFDS HHDVIK;GS TICIHDHIUDKFDS I;B<GHWDC<D EI<B ;DH FG;G HI< D<FCREFRCI< IC^RBFDEFLKBEI< ;DH CDFIYHGS D< ;DEBC HI< EIHHD<Q HG< TB<G<S TGC HG ^RD HI< BU\VDKD< ;D<EIK<IC\K DK <BUTHD< TDIKI<S G I HG U\< DKNIH<G< KBEaG< ECDI;G< I YI<D ;D FDHI< DKEGHI;I<= 'H NBKIH ;DH TDCBG;G <D BUTGKD ;DKRDWG HI EGHRUKI GCFG;GcIS IRK^RD FIUYB_K DKUI<EICI;I DK RK UIC ;D UGFBWG<;DEGCIFBWG< Q GCKIUDKFIHD<= 2BKIHUDKFDS TGC HG ^RD IFIdD I HI D<ERHFRCIS DK <R UIQGCTICFDS <BVRDK <BDK;G IKLKBUI< TRD<S EGUG <RED;D DK _TGEI< IKFDCBGCD<S <GK GYCI< ;DVCIK;D< FIHHDCD< ;D UID<FCG< DUTCD<ICBG<S EITIED< ;D CDIHBbIC FG;G< HG< TCGED<G< TCGX;REFBWG<= ,G GY<FIKFDS EGUG KGWD;I;D<S IRK^RD <D <BVRD TCDNBCBDK;G HI ;D TI<FI ;DUIMb ;GCI;I Q D<FGNI;IS TGEG I TGEGS <D WI BUTGKBDK;G HI TGHBECGUMI ;D FGKG< HB<G<SEGK HG ^RD HI D<ERHFRCI VIKI DK BK;BWB;RIHB;I;S I<M EGUG DH WD<FBCHI< EGK CBEI< FDHI<TICI IEDCEICHI< HG U\< TG<BYHD I HI CDIHB;I; ;DH UGUDKFG=

?=f= +I TBKFRCI

*K TCBUDC HRVIC <DdIHICDUG< ^RD TCGKFG <D TDCEBYD DK HG< HBDKbG< RKI <DK<BYBHB;I;CDNBKI;I Q Dc^RB<BFIS URQ ;B<FBKFI I HI ;DH <BVHG IKFDCBGCS EGK RK TCD;GUBKBGS I HI WDbS;D HI< NGCUI< <RKFRG<I< Q GTRHDKFI<S HHDKI< ;D UGWBUBDKFG Q EGHGCB;G I HI UIKDCICRYDK<BIKI= *< TRD<S RKI KRDWI UIKDCI ;D DcTCD<IC<DS FIKFG DK HG TBEFLCBEG EGUG DKHG ;DEGCIFBWGS ;D IERDC;G EGK HI< KRDWI< EGK;BEBGKD< <GEBIHD< ;DH WBCCDBKIFGS ^RDTICDEDK FCI<HREBC D<I <DK<IEBLK ;D GTFBUB<UG <GEBIHS EIR<IKFDS DK kHFBUI BK<FIKEBIS ;D^RD <D URHFBTHB^RDK HG< DKEICVG< TGC TICFD ;D HI EI;I WDb U\< TCL<TDCI Q IUTHBI EITIYRCVRD<IS TG<DD;GCI ;D RK IHFG KBWDH DEGKLUBEG=

,G GY<FIKFDS <BVRDK WBVDKFD< RKI <DCBD ;D I<TDEFG< FCI;BEBGKIHD<S IaGCI QI YI<FIKXFD KDVIFBWG<S I HG< ^RD KG D<EITIK KB HG< VCIK;D< UID<FCG<= 3GC DZDUTHGS HI UGKGFGKMIFDU\FBEIS EGK RK EHICG TCD;GUBKBG ;D HG CDHBVBG<GS IRK^RD I<RKFG< TGEG ERHFBWI;G<aI<FI I^RMS I TICFBC ;D IaGCI I;^RBDCDK RK VCIK BKECDUDKFG= $IH <RED;D EGK HI TBKFRCI;D V_KDCG EGK HG< ERI;CG< ;D EI<FI<S vTICI UG<FCIC HI VCIK WICBD;I; _FKBEI ;DHFDCCBFGCBG KGWGaB<TIKGS NCRFG ;DH ECRED ;D YHIKEGS KDVCG D BK;BGvS DH YG;DVLK vEGUG DcTG<BFGCD< ;D HI CB^RDbI KIFRCIH ;DH FDCCBFGCBGv Q <GYCD FG;G DH CDFCIFGS ;D<FIXEIK;G EGUG IHVG EI<B TDERHBIC DH ;D HI< UGKZI< EGCGKI;I<= *<I UGKGFGKMI FDU\FBEIFBTG CDHBVBG<G D< FIUYB_K ;D EGHGCS TRD< HI VIUI ECGU\FBEI <BVRD <BDK;G YI<FIKFDHBUBFI;IS DcB<FBDK;G RK IYR<G ;DH CGZGS DH IbRHS DH YHIKEG Q DH KDVCG=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f@A

8K aDEaG BUTGCFIKFD <DC\S I UD;BI;G< ;D <BVHGS DH BKFDKFG ;D ECDIC RKI 'EI;DUBI;D 3BKFGCD<S GCBVDK ;D HI IEFRIH 'EI;DUBI ;D #IK 0ICHG< vIRK^RD aRYG RKI FDKFIFBXWI IKFDCBGC TGC TICFD ;D ,BEGH\< &G;CMVRDb `R\CDbv= #DC\S aIEBI fsApS ERIK;G eG<_;D "YICCI IVHRFBKIC\ RK VCRTG ;D TBKFGCD< v.BVRDH 0IYCDCIS eRIK 3IFCBEBG .GCHDFDS2CIKEB<EG 'KFGKBG OIHHDZGS eG<_ ;D 'HbMYICS eG<_ ;D "YICCIS DFE=v Q RK IC^RBFDEFG TICID<FIYHDEDC RKI EGUTIdMI ;D TBKFGCD<S IRK^RD QI <D WDKMIK CDRKBDK;G EGK DH [KGYHD ;D<DG ;D UDZGC BK<FCRBC<D DK <R ICFD]= 'H IdG <BVRBDKFD ;IK EIC\EFDC HDVIH I D<FI'EI;DUBIS <BDK;G <R ;BCDEFGC eG<_ ;D "YICCI [ICFMNBED ;DEIKG DK DH KGYBHM<BUG ICFD ;D HI TBKFRCI]= .I<S DK DH NGK;GS FIUYB_K HD< UGWMI HI ;DNDK<I ;D <R< BKFDCD<D< IKFD HIEGUTDFDKEBI ;D GFCG< TBKFGCD<S ^RD DZDCEMIK <BK D<FIC DcIUBKI;G<= )BDCGK ERDKFI I HI'EI;DUBI ;D #IK 2DCKIK;GS TB;BDK;G <DC CDEGKGEB;G<S TDCG aBEBDCGK HI< KDVGEBIEBGXKD< vQ I^RM D<FRWG <R DCCGCv KG I FCIW_< ;DH WBCCDQS <BKG ;BCDEFIUDKFD I HI 0GCFD=$IH WDb D<FI <DI HI CIbLK ;D ^RD DH BKFDKFG KG NCREFBNBEICI aI<FI fsjpS KIEBDK;G IaGCIHI 'EI;DUBI ;D #IK 0ICHG<=

*H D<FR;BG ;D HG< VCIK;D< TCGFIVGKB<FI< ;D HI TBKFRCI ;DYD EGUDKbIC TGC RKI <DCBD;D ICFB<FI< ^RD FCIYIZIK I EIYIHHG DKFCD HG< <BVHG< `O"" Q `O"""= $IH <RED;D EGK HG<aDCUIKG< ,BEGH\< Q eRIK &G;CMVRDb `R\CDbS IHVG TG<FDCBGCD< I HG< UID<FCG< OBHHIHTIKX;G Q 0GCCDIS DZDUTHBNBEIK EGUG URQ TGEG< DH TI<G ;DH THDKG IH YICCGEG NBKIH= )D<EDKX;BDKFD< ;DH UIFCBUGKBG NGCUI;G TGC 'KFGKBG &G;CMVRDb Q 'KFGKBI `R\CDbS TGC HGFIKFG KBDFG< ;D eG<_ `R\CDb Q YB<KBDFG< ;D +RB< eR\CDbS <D NGCUICGK DK DH FIHHDCTIFDCKGS IH ^RD TCGKFG <RTDCICGK EGK ECDED<= ,BEGH\< :fiisXfsph>S ^RBDK <D aBbG<IEDC;GFD DK fs?j ;D<TR_< ;D DKWBR;ICS aI <B;G UDKG< D<FR;BI;GS <B YBDK EGK IKFDXCBGCB;I; I D<D kHFBUG IdG <R HIYGC D< URQ BUTGCFIKFD DK KkUDCG ;D GYCI< Q DKEIHB;I;S UI< I TICFBC ;D <R DKFCI;I DK DH D<FIUDKFG DEHD<B\<FBEG aIQ RK VCIK ;DEHBWDS;DYB;GS <BK ;R;IS I ^RD QI KG HG aIEMI TGC KDED<B;I;S KB FDKMI FIHHDC KB FBDK;I IYBDCFIIH TkYHBEG= %YCI FDUTCIKIS ;D figAS D< DH ERI;CG ;D;BEI;G IH $CBRKNG ;D HI "VHD<BISTICI DH 0ICUDK ;D 0DHIQIS ;GK;D <BVRD VCIYI;G< NHIUDKEG<S D<TDEBIHUDKFD CRYDK<BIXKG<S ;DKFCG ;D EBDCFI BKNHRDKEBI FDKDYCB<FI= *K HI VCIK <DCBD ;D;BEI;I I HI OB;I ;D HIOBCVDK ;D HI <IECB<FMI ;D HI #GHD;I; ;D 3RDYHI DH FDKDYCB<UG aI ;D<ITICDEB;G FGFIHXUDKFDS UIKDZIK;G EGK VCIK <GHFRCI HG< FGKG< EHICG< Q HRUBKG<G<= )D D<FI TCBUDCI_TGEI EBFICDUG< HI< ;DH <GYDCYBG CDFIYHG ;D .DbFBFH\K :!B;IHVG>S DK<IUYHI;G TGC$GU\< `R\CDbS CDEB_K CD<FIRCI;GS EGK RK YRDK ;BYRZGS EGCCDEFI< IKIFGUMI< Q <LHB;I<NBVRCI<= +I< TBKFRCI< ;D <R <DVRK;I DFITI <GK U\< ;D<ERB;I;I< Q ;_YBHD<S FIH <RED;DI <R UGKRUDKFIH #IK 0CB<FLYIH ;D HI D<EIHDCI ;DH 0GKWDKFG ;D 7RI;IHRTD DK 9IEIXFDEI<=

+I FCIQDEFGCBI ICFM<FBEI ;D <R aDCUIKG UDKGC eRIK &G;CMVRDb `R\CDb :fisAXfs?j>D< UREaG UI< IFCIEFBWIS TRD< <B DUTDbL <BDK;G YRDKIS EI;I WDb <D NRD UDZGCIK;GSaI<FI DH TRKFG ^RDS RKI WDb ;D<ITICDEB;G< OBHHIHTIK;G Q 0GCCDI Q <R aDCUIKG ,BEGXH\< GC;DKI;G ;D TCD<YMFDCGS <DCMI DH UDZGC TBKFGC ;D <R UGUDKFG= 1 YRDKI TCRDYI ;DDHHG D< ^RDS DK fsfgS CDEBYBL DH DKEICVG ;D TBKFIC HG< ;G< VCIK;D< HBDKbG< vHI ';GCIXEBLK ;D HG< &DQD< Q HI '<RKEBLKv TICI DH CDFIYHG ^RD eDCLKBUG -IHY\< HDWIKFIYI DKHI EITBHHI ;D HG< &DQD< ;D HI 0IFD;CIH ;D ._cBEG= )D VCIK BKFDC_< <GK <R< ERIFCGVCIK;D< HBDKbG< ;D HI OB;I ;D eD<k< ^RDS DK fs?@S TBKFL TICI HI 3CGND<IS TRD< DK DHHG<<D <DdIHI DH KRDWG CRUYG ^RD aIYCMI ;D <DVRBC HI TBKFRCI KGWGaB<TIKI ;RCIKFD EI<BFG;I HI EDKFRCBI= '^RM HI< D<EDKI<S DKWRDHFI< TGC CD<THIK;GCD< ;D <RIWD HRb Q ;RHED

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f@i

EGHGCB;GS <D KG< GNCDEDK EGK VCIK DUGFBWB;I;S FDCKRCI Q ;DHBEI;DbI= 3GC HG ^RD aI<B;G EGK<B;DCI;G DH BKFCG;REFGC ;D D<D D<FBHG IUIYHDS ;DWGFGS <RTDCNBEBIH ;D I<EDK;DKXEBI URCBHHD<EIS D BKEHR<GS IHVRKG< HG FRWBDCGK EGUG BKBEBI;GC ;D HI ;DEI;DKEBI TBEFLCBXEI DK DH ._cBEG WBCCDBKIHS EGUG BKZR<FIUDKFDS DK IHVkK UGUDKFG ;DH <BVHG TI<I;GS NRDWIHGCI;I HI TBKFRCI ;DH <BVHG `O"""= 0RIK;GS DK CDIHB;I;S <R GYCI D< DH TRDKFD DKFCD HIDcRYDCIKFD NRDCbI Q DKDCVMI ;D HG< TBKEDHD< ;D NBKIHD< ;DH <BVHG `O"" vOBHHIHTIK;G Q0GCCDIvS Q DH ICFD <G<DVI;GS IVCI;IYHDS CDHIZIKFD Q HBVDCG ^RD aIYCMIK ;D TCIEFBEIC HG<

e8', &%)&678*9 `84&*9= '8$%&&*$&'$% = .8,'+S ./`"0% )=2==

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f@s

ICFB<FI< ;DH <DVRK;G FDCEBG ;DH <BVHG `O"""= $IUTGEG ;DYDUG< GHWB;IC <R NIEDFI EGUGVCIK CDFCIFB<FIS <GYCD<IHBDK;G <R BKKGWI;GC IRFGCCDFCIFGS ;GK;D KG< ;DZL I RK UD<FBbG;D TDHG HICVG Q HIEBGS DK D<EGCbG Q ;D FCD< ERICFG<S ^RD UBCI ;D<INBIKFD IH D<TDEFI;GCSDH ;DH ICbGYB<TG +IKEBDVG Q *VRBHRb Q D<TDEBIHUDKFD DH ;DH WBCCDQ )R^RD ;D +BKICD<SCDWD<FB;G ;D FG;I <R TGUTI Q YGIFG ;D EICI I HI VIHDCMI= 2BKIHUDKFDS ZRKFG EGK0IYCDCI D "YICCIS <DC\ RK VCIK ERHFBWI;GC ;DH FDUI ;D HI< EI<FI<S ;DZ\K;GKG< <DCBD<vVDKDCIHUDKFD fi HBDKbG<v ;D RKI VCIK EIHB;I;=

*KFCD GFCG< UREaG< ICFB<FI< ^RD EGHIYGCICGK IEFBWIUDKFD DK D<FD EIUYBG D<F_FBEGFDKDUGS TCBUG ;D HG< ;G< IKFDCBGCD<S D< FIUYB_KNBVRCI <GYCD<IHBDKFDS Q TCRDYI ;D DHHG D< ^RD TICFBEBTL DK DH CDEGKGEBUBDKFG ^RD <D HDaBbGS DK fsfhS I HI OBCVDK ;D 7RI;IHRTD= )RDdG ;D RK IEFBWG FIHHDCS CDIHBbL VCIK;D<<DCBD< EHIR<FCIHD< ;D WB;I< ;D <IKFG< NRK;I;GCD<S D<TDEBIHUDKFD TICI EICUDHBFI< QNCIKEB<EIKG<= 0GUG HI ;D #IK 2CIKEB<EG TICI #IK +RB< ;D 3GFG<M G HI ;D HI OB;I ;D HIOBCVDK ;DH IKFBVRG 0GHDVBG ;D 7RI;IHRTD DK 9IEIFDEI<= 3CDEB<IUDKFD I^RMS DK HI<IECB<FMI <D EGK<DCWI <R #IK 2CIKEB<EG ;D '<M< IKFD DH \KVDHS ^RD HD GNCDED HI CD;GUISYRDK DZDUTHG ;D <R UID<FCMI DK DH UIKDZG ;DH ;BYRZG Q ;DH EGHGCS IRK^RD VDKDCIHUDKXFD <R< <DCBD< UI< IRF_KFBEIUDKFD GCBVBKIHD< D<F\K TDK<I;I< Q aDEaI< TICI <IFB<NIEDC HITBD;I; ;D HG< EGUBFDKFD<=

*K HI 3ICCG^RBI ;DH IKFBVRG TRDYHG ;D $IERYI <D VRIC;I RK 'TG<FGHI;G ;D WBVGXCG<I< NBVRCI<S GYCI ;DH IkK ;D<EGKGEB;G ZD<RBFI 3I;CD .IKRDH= "VRIH ;D ;D<EGKGEB;GD< IkK eRIK 2CIKEB<EG ;D 'VRBHDCIS NGCUI;G EGK HG< aDCUIKG< &G;CMVRDb `R\CDbS^RBDKS DK fs?@S NBCUI DH UIVKMNBEG ERI;CG *H 3IFCGEBKBG ;D HI "KUIERHI;I <GYCD HI0GUTIdMI ;D eD<k< vaGQ DK DH .RKIHvS ;D RK NRDCFD IEDKFG B;DIHB<FI ;D EGCFDURCBHHD<EG= 3CDEB<IUDKFD DK DH .R<DG ;D 7RI;IHIZICI aIQ RKI <DCBD <RQI ;D;BEI;I IHI OB;I ;D #IK 2CIKEB<EGS ^RD ;RCIKFD UREaG FBDUTG <D FRWG TGC GYCI ;D .RCBHHG=%FCG NCIBHDXTBKFGC NRD DH IVR<FBKG 2CIQ .BVRDH ;D !DCCDCIS IRFGC ;D RKI DcFDK<I TCGX;REEBLK ;D FDUI CDHBVBG<GS IRK^RD FIUYB_K ERHFBWL EGK NGCFRKI DH CDFCIFGS EGUG DH ;D#GC eRIKI "K_< ;D HI 0CRbS BK<TBCI;G DK DH ;D eRIK ;D .BCIK;IS DH ;D HI ZGWDK .ICMIeG<DNI 'H;IEG Q 2IVGIVI Q DH ;DH GYB<TG 3IHINGc Q .DK;GbI= 3GC kHFBUGS 2CIKEB<EG.ICFMKDbS UDKG< GCBVBKIH EGUG TBKFGCS IRK^RD URQ IEFBWG Q TGHBNIE_FBEGS NRD FIUYB_KDK<IUYHI;GC Q ;GCI;GC vDH ;GCL HG< CDFIYHG< YIHYI<BIKG< ;DH 3DC;LK Q ;D HG< &DQD<;D HI 0IFD;CIH ;D ._cBEGv= 2RD I;DU\< RK <GHBEBFI;G CDFCIFB<FIS <GYCD<IHBDK;G HG< ;DUGKZI< EGCGKI;I< TGC HI UBKREBG<B;I; EGK ^RD FCIFI FG;G DH ITICIFG ^RD DKWRDHWD IHI CDHBVBG<I=

0GK _H HHDVIUG< I HI ^RD EGK FG;I ZR<FBEBI ;DKGUBKI;G< HI 7CIK 7DKDCIEBLK= #DFCIFI ;D RKI <DCBD ;D ICFB<FI<S ERQI IEFBWB;I; HHDKIS Q EGK NGCFRKIS HG< ;G< TCBUDCG<FDCEBG< ;DH <BVHG `O""" KGWGaB<TIKG= +I TCBUDCI VCIK NBVRCI D< eG<_ ;D "YICCI :fijAXfsAi>S TBKFGC ;D VCIK;D< CDERC<G<S GCBRK;G ;D 7RI;IHIZICIS ;DYBL TI<IC URQ ZGWDK I._cBEGS <BDK;G <R< UID<FCG< eRIK 0GCCDI Q eRIK &G;CMVRDb `R\CDbS <RED<BWIUDKFD=)D RKI WB;I TDC<GKIH URQ EGUTHDZI Q IbICG<I vTGC <R< FCD< EI<IUBDKFG< Q <R KRUDXCG<I ;D<EDK;DKEBIv FIUYB_K _HS DK fsAfS ZRKFG EGK GFCG< ICFB<FI<S DNDEFRL RK <DVRKX;G CDEGKGEBUBDKFG I HI OBCVDK ;D 7RI;IHRTDS <BDK;G <R TICDEDC <GYCD HI OBCVDK ;DRKI VCIK EIK;B;Db= "KEHR<G IH UB<UG IdI;BL RK FDcFG ;D;BEI;G I HG< TBKFGCD< ;DHTI<I;GS ^RDS IK;I;G DH FBDUTGS <DCMI ITCGWDEaI;G Q TRYHBEI;GS DK fsAiS TGC .BVRDH0IYCDCI DK <R GYCI5 .ICIWBHHI IUDCBEIKI Q EGKZRKFG ;D CICI< UICIWBHHI GY<DCWI;I<

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f@j

EGK HI ;BCDEEBLK ;D HI< &DVHI< ;DH 'CFD ;D HI 3BKFRCI DK HI TCG;BVBG<I BUIVDK ;D ,FCI=#CI= ;D 7RI;IHRTD ;D ._cBEG = 2RD FIUYB_K TBDbI EHIWD ;D I^RDHHI I<GEBIEBLK ;DICFB<FI<S V_KD<B< Q GCBVDK ;D HI NRFRCI 'EI;DUBI ;D #IK 0ICHG<= 3GC HG ^RD IFIdD I <RGYCIS TD<D I ^RD ;GERUDKFIHUDKFD <IYDUG< ^RD NRD URQ DcFDK<IS DK CDIHB;I; <D aI

e%#/ )* "-'&&'= O"&7*, '3%0'+63$"0'= .8,'+S ./`"0% )=2==

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f@g

EGK<DCWI;G YI<FIKFD TGEG Q I;DU\< URQ ;B<TIC= $IH <RED;D EGK <R< ERIFCG VCIK;D<FIYHI< <GYCD DH FDUI ;D HI< .RZDCD< ;DH *WIKVDHBGS ;D TGYCD ;BYRZGS UGKLFGKG EGHGXCB;G Q TDC<GKIZD< IkK IUIKDCI;G<= .DZGCD< <GK HI <DCBD ;D GEaG H\UBKI< ;D EGYCDSFIUYB_K DK DH .RKIHS <GYCD HI OB;I ;D HI OBCVDKS <BDK;G HI ;D;BEI;I I HI OBCVDK ;DH'TGEIHBT<B< ;D RKI VCIK TGTRHICB;I; vHI< CD<FIKFD< <GK DH ,IEBUBDKFG ;D HI OBCVDKS3DKFDEG<F_< Q HI '<RKEBLKv= 3ICI fsp? aIYMI NBKIHBbI;G <R< ERIFCG VCIK;D< HBDKbG<;D HG< HIFDCIHD< ;DH EGCG ;D HI 0IFD;CIH ;D 3RDYHI v+I '<RKEBLKS HI 0GCGKIEBLK ;DH,BdG eD<k<S +I ';GCIEBLK ;DH #IKFM<BUG #IECIUDKFG Q *H 3IFCGEBKBG ;D HI OBCVDK<GYCD HI 0BR;I; ;D 3RDYHIS ;GK;D ITICDED #IK .BVRDH Q #IK eG<_vS <BK ;R;I ;D HGUDZGC ;D <R GYCIS ;GK;DS ;DKFCG ;DH VCIK YICCG^RB<UGS EGK<BVRD RK D^RBHBYCBGS ;BNMEBH;D DKEGKFCIC DK GFCG< FCIYIZG< <IHB;G< ;D <R UIKG G ;D <R FIHHDC=

*< IaGCIS ERIK;G DH ERHFG I #IK eG<_S EGUG TCGFDEFGCS IHEIKbI RK VCIK ;D<ICCGHHG=*K WICBI< GEI<BGKD< "YICCI INCGKFL <R WB;I Q YDKDNBEBG<G TIFCGEBKBGS <BDK;G YRDKG<DZDUTHG< HG< HBDKbG< ^RDS aIEBI fspjS TBKFL TICI <R EITBHHI ;D HI BVHD<BI ZD<RMFBEI ;D$DTGFbGFH\K= *K D<FI UB<UI HMKDI D<F\ DH ERI;CG EGK HG< ;GKIKFD< ;D HI D<EIHDCI ;DH*cEGHDVBG ;D 7RI;IHRTD DK 9IEIFDEI<= $IUYB_KS I UD;BI;G< ;DH <BVHG `O""" <D ;BNRKX;D HI "KUIERHI;I 'TGEIHMTFBEIS <BDK;G _H RKG ;D <R< UDZGCD< ;DNBKB;GCD< I TICFBC ;DH;D<ITICDEB;G UG;DHG CRYDK<BIKG ;D HI IKFBVRI TBKIEGFDEI ;D .RKBEa= .RQ <BVKBNBXEIFBWI DK <R UGUDKFG FRWG ^RD <DC <R OBCVDK 'TGEIHMTFBEI ;DH .RKIHS UG;DHG TICIGFCG< UREaG< ICFB<FI< TG<FDCBGCD< EGUG 0IYCDCIS eG<_ 3\DbS 2CIKEB<EG 'KFGKBG OIHHDZGG )BDVG ;D 0RDKFI<= 2BKIHUDKFDS <R< VCIK;D< ;GFD< EGUG CDFCIFB<FI NRDCGK URQ WIHGXCI;G< HI IHFI <GEBD;I; ;D <R UGUDKFGS ^RD TB;BDCGK TG<IC TICI _HS <GYCD<IHBDK;G DH ;D)= 3D;CG ;D OBHHIWBEDKEBGS )R^RD ;D HI 0GK^RB<FI G DH ;DH OBCCDQ 0GK;D ;D 2RDKEHICIS3D;CG 0DYCB\K 'VR<FMK= "KEHR<GS DK D<FI TICEDHI aIQ ^RD ;D<FIEIC <R< CDFCIFG< ;D;GKIKFD<S ^RD ITICDEDK DK IHVRKI< ;D <R< GYCI< ;D FDUI CDHBVBG<G=

.BVRDH 0IYCDCI :€figA~Xfsig>S D<S <BK ;R;I HI NBVRCI U\< EGUTHDZI Q TGHBNIE_FBEI;D FG;G DH #DFDEBDKFG<= 3BKFGCS ;B<DdI;GC ;D CDFIYHG<S FkURHG< NRKDCICBG<S DFES Q ;RDXdGS DK ;DNBKBFBWIS ;D RK VCIK FIHHDCS ;D<EGKGEDUG<S EGK FGFIH TCDEB<BLKS FIKFG <R HRVICEGUG <R NDEaI ;D KIEBUBDKFG= $CI;BEBGKIHUDKFD <D WBDKD INBCUIK;G ^RD ;DYBL <DC DK%IcIEI Q aIEBI figAS IEI<G ;D TI;CD< BK;MVDKI< ^RD HD IYIK;GKICGK IH KIEDC= #DVkKDH ECGKB<FI +RB< 7GKb\HDb %YCDVLKS aIEBI fsfgS EGK ?h IdG<S <D IWDEBK;L DK ._cBEGS;GK;D EI<L Q NRD TI;CD ;D RKI IUTHBI ;D<EDK;DKEBI= #R IVCI;IYHD EIC\EFDC Q ;GFD<ICFM<FBEI< HD TG<BYBHBFICGK UIKFDKDC DcEDHDKFD< CDHIEBGKD< FIKFG EGK HI "VHD<BI vDHICbGYB<TG .BVRDH &RYBG #IHBKI<S <R TCGFDEFGCS HG KGUYCL <R TBKFGC TICFBERHIC Q HI0GUTIdMI ;D eD<k< HG FRWG TGC <R EI<B kKBEG TBKFGCvS EGK DH VGYBDCKG WBCCDBKIHS I<M EGUG HI KGYHDbI Q DKCB^RDEB;I YRCVRD<MI KGWGaB<TIKIS ^RD HD aBEBDCGK VCIK;D< DKXEICVG<S YBDK ;D FBTG CDHBVBG<GS CDFCIFG<S YG;DVGKD<S <DCBD< ;D EI<FI<S DFE=

3CRDYI ;D <R WIHMI Q CDEGKGEBUBDKFG <GEBIH D< ^RDS FIUYB_K _HS ZRKFG I GFCG< TBKFGXCD<S DcIUBKL DH ERI;CG ;D HI OBCVDK ;D 7RI;IHRTD= 0IR<I Q GCBVDK ;D <R FCIYIZG QIEBFI;G HI .ICIWBHHI 'UDCBEIKI=== !GUYCD ;D RKI VCIK ERHFRCIS TRD<S ITICFD ;D EGKGEDCDH HIFMKS TG<DMI RKI YI<FI YBYHBGFDEIS ;GK;D ZRKFG I HBYCG< CDHBVBG<G< HG< aIYMI ;D !B<FGXCBI D BKEHR<G ;D ICFD EGUG +G< ERIFCG HBYCG< ;D HI <BUDFCMI= == ;D 'HYDCFG )RCDCG G DH.R<DG 3BEFLCBEG ;D 'KFGKBG '= 3IHGUBKG= '<BUB<UGS FRWG TICFD URQ IEFBWI DK HINRK;IEBLK ;D HI NCR<FCI;I IEI;DUBI ;D TBKFGCD<S VDCUDK ;D HI IEFRIH 'EI;DUBI ;D #IK0ICHG<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ff@

'KIHBbIC <R GYCIS CD<RHFI YI<FIKFD EGUTHDZGS TRD< KG CD<RHFI N\EBH ;D<HBK;IC HG ^RDD< <RQG TDC<GKIHS ;D HI GYCI ;D FIHHDC ^RDS IRK^RD EGKFCGHL TDC<GKIHUDKFDS TIHB;DEDDK UREaG< EI<G<= *< U\<S FCI;BEBGKIHUDKFD <D HD aIK I;ZR;BEI;G IHVRKG< ERI;CG<S^RD QI D<F\ EGUTCGYI;G ^RD FBDKDK GFCI TIFDCKB;I;= %CVIKBbICDUG< TICI <R D<FR;BGHI GYCI TGC FDU\FBEI<=

#BK ;R;I HI UI< <GYCD<IHBDKFD D< HI TBKFRCI CDHBVBG<IS ;GK;D FIUYB_K BKEHRBUG< HG<HBDKbG< ;D WIKBFI< vCDTCD<DKFIEBLK ;D GYZDFG< aRDCG< EGK NBKD< UGCIHBbIKFD<v= *< DHEITMFRHG U\< KRUDCG<GS BKEHR<G EGUTICIFBWIUDKFD EGK FG;G< <R< EGDF\KDG<= +I TBKFRCICDHBVBG<I ;DH #DFDEBDKFG< VCIEBI< I _H D<F\ URQ ;BVKIUDKFD CDTCD<DKFI;IS IRK^RD ;DYDUG<TRKFRIHBbIC ^RD .BVRDH 0IYCDCIS ^RD FDKMI FG;I< HI< ERIHB;I;D< KDED<ICBI< TICI <DC RKVCIK TBKFGCS DK UREaI< GEI<BGKD<S KG HHDVL I <DCHGS TRD< <R IN\K WBCFRG<B<FI EaGEIYI EGK HIRCVDKEBI Q CITB;Db DK ERUTHBC HG< EGUTCGUB<G< EGKFCIM;G<= *<FD ;BHDUI <DC\ DH ^RDS DK;DNBKBFBWIS HD GYHBVL I ECDIC RK VCIK FIHHDCS ;GK;D FCIYIZIYIK IHVRKG< ;D <R< EGUTIdDCG< ;DGNBEBGS ITICFD ;D UREaG< ;B<EMTRHG< Q ITCDK;BED<= *K HMKDI< VDKDCIHD<S DK <R< FDHI< aIQ RKDcED<BWG KkUDCG ;D NBVRCI<S <GYCD FG;G IKVDHBFG< ;D NB<GKGUMI< IKG;BKI< Q <BK RK D<FR;BG;D HI< D<FCREFRCI< IKIFLUBEI<S HG ^RD FIUYB_K <D I;WBDCFD DK IHVRKG< <IKFG< Q WMCVDKD<=*<FD UB<UG EGK;BEBGKIKFD vHI DcB<FDKEBI ;D EGUTHDZG< EGKFCIFG< I ERUTHBC DK TGEGFBDUTGv aIED ̂ RD DK UREaG< ERI;CG< <R ;BYRZG FDKVI RKI TGYCD NIEFRCI Q ̂ RD DH D<FR;BG;DH ERDCTG aRUIKG D<F_ YI<FIKFD ;D<ERB;I;G= #R< NBVRCI<S DK D<TDEBIH I^RDHHI< ^RD NGCXUIK VCRTGS <GK ;D RKI YDHHDbI E\K;B;I Q <D CDTBFDK HG< UG;DHG< EGK NCDERDKEBIS TGC HG ̂ RDTRD;DK WDKBC ;D RK UB<UG CDTDCFGCBG= *K ERIKFG IH EGHGC <D ;D<FIEI TGC <R FGKG EDCkHDGvIbRH ;DH EBDHG ;D<TDZI;G ;D IHFI UIC G ;D HG< VCIK;D< HIVG<vS EGUG NGK;GS IRK^RDDUTHDG RKI BKFDCD<IKFD VIUI ;D EGHGCD<S TCD;GUBKIK DH CGZGS DH IbRHS DH YHIKEG Q DH KDVCGSEGK <R< ;BWDC<I< FGKIHB;I;D<=

,G D< DK <R< VCIK;D< <DCBD< ;GK;D D<F\ HG UDZGC ;D <R GYCIS UI< ;D FG;I< HI< ^RDaBbG TICI HI< LC;DKD< CDHBVBG<I< <GYCD<IHDK HI< ^RD TBKFL TICI HG< ZD<RBFI< ;D $DTGFbGXFH\K Q qRDC_FICG G TICI HG< ;GUBKBEG< ;D HI 0BR;I; ;D ._cBEGS ;D;BEI;I< I HI WB;I ;D#IK "VKIEBG Q #IKFG )GUBKVGS CD<TDEFBWIUDKFD= 7CIK BKFDC_< FBDKD HI ^RD EGUBDKbISI TICFBC ;D fsAAS TICI HI "VHD<BI Q HI <IECB<FMI ;D $IcEG= )D;BEI;IS NRK;IUDKFIHUDKFDSI HI OB;I ;D HI OBCVDKS ITICFD ;D GFCG< HBDKbG< EGUG #IK .BVRDHS TCGFDEFGC ;D HI<IHUI<S Q HG< UICFBCBG< ;D #IKFI 3CB<EI Q #IK #DYI<FB\KS FBFRHICD< ;D HI 3ICCG^RBIS HGIECD;BFIK EGUG RK VCIK TBKFGC ;D FDUI< UICBIKG<S IRK^RD I WDED< <BVRD URQ ;DEDCEI D<FIUTI< CRYDK<BIKI<= #R< ;G< VCIK;D< HBDKbG< ;D HI D<EIHDCI ;DH *cEGHDVBG ;D7RI;IHRTDX9IEIFDEI< vOBCVDK ;DH 'TGEIHBT<B< v;GK;D TICI #IK .BVRDH <BVRD URQ;D EDCEI DH ;D OBHHIHTIK;G ;D HI <IECB<FMI ;D HI 0IFD;CIH ;D ._cBEGv Q DH 3IFCGEBKBG;D HI OBCVDK ;D 7RI;IHRTD <GYCD HG< NCIKEB<EIKG<vS KG< ;IK RKI B;DI ;D ELUGEIUYBIYI HI< NBVRCI< DK NRKEBLK ;D HG< DKEICVG<= 3CDEB<IUDKFDS I^RMS DK 7RI;IHRTDX9IEIFDEI< FDKDUG< RKI ;D <R< UDZGCD< <DCBD< ;D;BEI;I I HI OB;I ;D HI OBCVDKS DKTD^RDdG< HBDKbG< GWIHI;G<=

'RFGC FIUYB_K ;D RKI DcFDK<I GYCI <RDHFIS <GYCD<IHD TGC <R ;DHBEI;DbI HI OBCVDK;DH 'TGEIHBT<B< vDK DH .RKIHvS ;D BK<TBCIEBLK CRYDK<BIKIS G ,RD<FCI #DdGCI ;D HG<#BDFD 7GbG<S ;D fsAiS ;GK;D EGUYBKI <IYBIUDKFD HG< EGHGCD< DK HI EGUTG<BEBLK Q DH;BKIUB<UG ;D HI< NBVRCI<S I<M EGUG <R UIVKMNBEI <DCBD ;D <IKFG< v#IK 'K<DHUG G #IK-DCKIY_vS ^RD <GK EGK<B;DCI;G< EGUG CDFCIFG< I HG ;BWBKGS Q DH DKFBDCCG ;D 0CB<FGSfsifS ;DH .R<DG &DVBGKIH ;D qRDC_FICG=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fff

."78*+ 0'-&*&'= #', ."78*+ = "7+*#"' )* #',$' 3&"#0'S $'`0%=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ff?

*K DH EIUTG ;DH CDFCIFG KG FRWG CBWIHS TRD< KG <D CD;RED <LHG I ITHBEIC HI< CDEDFI<FCI;BEBGKIHD< <BKG ^RD KG< TCGQDEFI <R< BK;BWB;RIHB;I;D<= -RDK DZDUTHG ;D DHHG <GK DH^RD CDIHBbI I #GC eRIKI "K_< ;D HI 0CRbS DK DH .R<DG ,IEBGKIH ;D !B<FGCBIS vBK<TBCIX;G DK DH ^RDS DK fsfpS HD CDIHBbICI eRIK ;D .BCIK;IS I <R WDb YI<I;G DK GFCG EGDF\KDGI HI URDCFD ;D HI CDHBVBG<IS DK figAvS G DH ;D #GC 2CIKEB<EI 'KI ;D ,DWD DK HI<IECB<FMI ;D #IKFI &G<I ;D qRDC_FICGS ;GK;D aIED RK EIKFG I HI YDHHDbI NDUDKBKIS I<R< ;GFD< BKFDHDEFRIHD< Q I <R CBEI WB;I BKFDCBGC= )DKFCG ;DH EIUTG EBWBH <GYCD<IHD DH ;D)= 2CIKEB<EG ;D 7uDUD< Q %CEI<BFI<S ;D fsAAS ;GK;D <B TGC RK HI;G KG< URD<FCI DHEIC\EFDC DK_CVBEG ;DH VGYDCKIKFDS TGC DH GFCG <D CDECDI DK DH FCIFIUBDKFG ;D HI< CBEI<WD<FB;RCI< ^RD DKVIHIKIK Q DKIHFDEDK <R NBVRCI= *K ;BWDC<I< GEI<BGKD< TBKFL I <RTCGFDEFGC DH ICbGYB<TG .IKRDH &RYBG Q #IHBKI<S UBDKFCI< ^RD HI DHDVIKEBI Q HI CB^RDbI^RD EICIEFDCBbL I HI <GEBD;I; ECBGHHI KGWGaB<TIKI ;DH #DFDEBDKFG< ^RD;I URQ YBDKCDNHDZI;I DK DH ^RD aBbG I )w= .ICMI ;D HI +Rb 3I;BHHI 0DCWIKFD< vDK DH .R<DG ;D-CGGnHQKvS ^RD TRD;D EGUTDFBC EGK HG UDZGC ;D HI *RCGTI ;D <R UGUDKFG TGC DHUBUG Q DKFCDVI EGK ^RD FCIFI HG< YCGEI;G<S HI< IHaIZI< Q <GYCD FG;G <R CG<FCGS <BKNIH<DIC KI;I <R BUIVDK=

)DKFCG ;D HI TBKFRCI ^RD TG;DUG< ;DKGUBKIC EGUG EG<FRUYCB<FIS <GYCD<IHDK <R<<DCBD< ;D EI<FI<S ;D;BEI;I< I ;IC I EGKGEDC HI VCIK WICBD;I; _FKBEI ;D HI <GEBD;I;KGWGaB<TIKIS EGK ;D<FBKG NRK;IUDKFIHUDKFD I HI UDFCLTGHBS ;GK;D DH FDUI DCI FGFIHXUDKFD ;D<EGKGEB;G= #R <DCBD ;DH .R<DG ;D 'U_CBEI ;D .I;CB; D< RK <BKVRHIC URD<XFCICBG ;D HG< CBEG< Q WICBI;G< WD<FRICBG<S I<M EGUG ;D HI< ZRVG<I< NCRFI< ;DH TIM<S TGC HG^RD EGK<FBFRQDK I WDED< WDC;I;DCG< YG;DVGKD<=

,G ^RD;I I^RM FGFIHUDKFD CDNHDZI;I HI NDERK;I FCIQDEFGCBI TCGND<BGKIH ;D 0IYCDCIS<BKG ^RD IYICEL GFCG< EIUTG<= '<M TGC DZDUTHG <IYDUG< ^RD ;B<DdL HG< <GYDCYBG<CDFIYHG< ;D HI EIYDEDCI ;D HI BVHD<BI ZD<RMFBEI ;D $DTGFbGFH\KS ^RD <DCMIK UIFDCBIHBbI;G<TGC DH DK<IUYHI;GC !BVBKBG 0a\WDbS I<M EGUG IHVRKG< FkURHG< NRKDCICBG< EGUG DH ;DHI< aGKCI< NkKDYCD< ;D <R TCGFDEFGCS DH UDKEBGKI;G ICbGYB<TG &RYBG Q #IHBKI<=

3ICI EGUTHDFIC DH TIKGCIUI TBEFLCBEG ;DH #DFDEBDKFG<S ;DYDUG< BKEHRBC I^RM RKI<DCMI ;D TBKFGCD< EGDF\KDG< ;D 0IYCDCIS vIHVRKG<S BKEHR<GS FCIYIZICGK TICI _HvS ^RDNRDCGK ;D<FIEI;G< UBDUYCG< ;D HI 'EI;DUBI ;D #IK 0ICHG<= )DH TCBUDCGS eRIK 3IFCBEBG.GCHDFD &RBb :fsfpXfss?>S ;B<EMTRHG FIH WDb ;D eG<_ ;D "YICCIS <D EGK<DCWIK KRUDCGX<G< ;BYRZG<= *K <R TBKFRCI CDHBVBG<IS BUYRB;I ;D D<D D<TMCBFR ;DHBEI;G Q CDNBKI;G TCGXTBG ;DH <BVHG `O"""S <GYCD<IHDK <R #IK +RB< 7GKbIVIS DK DH .RKIHS G <R "KUIERHI;I'TGEIHMTFBEI ;DNDK;BDK;G HI NDS ;DH .R<DG OBCCDBKIHS ;GK;D ITICDEDK EBDCFI< KGFI<FCDUDK;B<FI<= $IUYB_K ERHFBWL EGK KGFIYHD IEBDCFG DH CDFCIFGS EGUG DH ;DH .IC^R_< ;D0CGBcS )= 'VR<FMK ;D 'aRUI;I OBHHIHLK= .I< HG CDIHUDKFD KGWD;G<G <GK <R< WB<FI< ;DTRDCFG< NCIKED<D<S aDEaI< I TICFBC ;D VCIYI;G< ;D HI< TBKFRCI< GCBVBKIHD< ;D 0= e=ODKDCFS EGK<DCWI;I< DK HI OIHDFFIS .IHFIS ;GK;D FIUYB_K <D VRIC;IK ;G< BKFDCD<IKFD<WB<FI< ;D HI< THIbI< ;DH 9LEIHG Q ;DH OGHI;GC ;D HI 0BR;I; ;D ._cBEG=

2CIKEB<EG 'KFGKBG OIHHDZG :fs??XfsjA> aBZG ;D RKI TBKFGCIS VGbL ;D VCIK NIUI QTCD<FBVBG DK <R _TGEI= 2RD RKG ;D HG< ^RDS DK fsAiS IKIHBbL HI OBCVDK ;D 7RI;IHRTDSHHDVIK;GS BKEHR<GS I <DC FDKBDKFD ;D TBKFRCI ;D HI 'EI;DUBI ;D #IK 0ICHG<= 'RFGC ;D VCIKX;D< <DCBD<S EGUG HI ;D;BEI;I I #IK *HMI< Q #IKFI $DCD<IS DK HI "VHD<BI ;DH 0ICUDK ;D #IK+RB< ;D 3GFG<MS DK <R GYCI <D I;WBDCFD RKG< IEDKFRI;G< EGKFCI<FD< ;D HRbS I;DU\< ;DDKCB^RDEDC <R< NGK;G< VCIK;D< EGKZRKFG< IC^RBFDEFLKBEG<S ;D NCIKEI BK<TBCIEBLK KDGEH\<BX

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ffh

EI= *KFCD <R< ERI;CG< ;D FDUI CDHBVBG<G <GYCD<IHDK <R #IVCI;I 2IUBHBI IFDK;B;I TGC \KVDXHD< Q RK 3DKFDEG<F_<S IUYG< DK HI <IECB<FMI ;D HI BVHD<BI ;DH EGHDVBG ZD<RMFBEG ;D #IK "H;DNGKX<G Q NDEaI;G< DK fsAi= #R EITIEB;I; TICI ECDIC VCIK;D< HBDKbG< ̂ RD;I YBDK UIKBNBD<FI DKDH ;DKGUBKI;G 7HGCBNBEIEBLK ;DH ;GVUI ;D HI "KUIERHI;I 0GKEDTEBLKS ̂ RD NGCUIYI TICFD;D RKI <DCBD ^RD ERYCMI HI< TICD;D< ;D HI 8KBWDC<B;I; vaGQ DK DH .RKIHv Q ^RD FDKMIEGUG NBK EGKUDUGCIC HI IRFGCBbIEBLK ;DH 3ITI 0HDUDKFD ̀ "O I 0ICHG< """ TICI BKEHRBC DK HI<HDFIKMI< HIRCDFIKI< HI I;WGEIEBLK .IFDC "KUIERHIFI = 0GKEDYB;G DK ;G< CDVB<FCG<S DK HITICFD BKNDCBGC D<F\KS DKFCD GFCG<S HG< CDFCIFG< ;DH &DQ Q ;DH 3ITIS DK ERD<FBLK= 2RD D<FI vHI;D CDFCIFB<FIvS GFCI ;D <R< VCIK;D< NIEDFI<S <BDK;G RK YRDK DZDUTHG ;D DHHG DH ̂ RD ;D;BELIH OBCCDQ 'KFGKBG .ICMI ;D -REICDHB Q 8C<kI=

eG<_ ;D 'HbMYICS GCBRK;G ;D $DcEGEGS ;DYBL FDKDC RKI HICVI WB;IS TRD< <R TCBUDCERI;CG EGKGEB;G D< ;D fsAf Q NIHHDEBL DK fj@p= 'CFB<FI URQ TCGHMNBEGS NRD IRFGC FIKFG;D ERI;CG< <RDHFG< G ;D <DCBD< FDU\FBEI< DK D<TDEBIH TICI CDFIYHG<= *KFCD <R TCG;REXEBLK CDHBVBG<I <GYCD<IHD DH 3IFCGEBKBG ;D #IK eG<_ I HG< 2BHBTDK<D< vaGQ DK HI 3CGNDX<IvS Q HI -DK;BEBLK ;D HI .D<I vDK DH .RKIHv EGK RKG< DKEIKFI;GCD< IKVDHBHHG< QaDCUG<I< VRBCKIH;I< ;D NHGCD<S ;D RKI Dc^RB<BFI Q CDNBKI;I DHDVIKEBI= 7CIK ERHFBWI;GC;D CDFCIFG<S DK D<TDEBIH DH ;D HI< UGKZI< EGCGKI;I<S GYCI UID<FCI TGC <R DcFCIGC;BKICBGYICCG^RB<UG D< DH ;D HI UI;CD #GC "VKIEBI ;D HI #IKVCD ;D 0CB<FGS UGKZI TCGND<I ;DH0GKWDKFG ;D #IKFI 0HICI ;D HI 0BR;I; ;D ._cBEGS NDEaI;G DK fsss vDK DH .R<DG,IEBGKIH ;D !B<FGCBIv= *K IHVkK UGUDKFG ERHFBWL HI D<ERHFRCIS v<D HD IFCBYRQD HI)GHGCG<I ;DH #IVCICBG .DFCGTGHBFIKGvS BKEHR<G HI CDFIYHM<FBEIS <BDK;G <RQG DH CDFIYHG;D HI BVHD<BI ;DH !G<TBFIH ;D #IK eRIK ;D )BG<= 3GC FG;G DHHGS IHEIKbL RKI VCIK NIUISHHDVIK;G I <DC [FDKBDKFD ;D ;BCDEFGC ;D HI 'EI;DUBI ;D D<FI ,RDWI *<TIdI]=

e8', 3'$&"0"% .%&+*$*= O"#$' )* +' 3+'9' .'1%& )* ./`"0% = 3'+'0"% )*#', ',$J,S +' O'+*$$'S .'+$'=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ffA

e%#/ )* '+96-'&= #%& "7,'0"' )* +' #',7&* )* 0&"#$% = .8#*% ,'0"%,'+ )*!"#$%&"'S ./`"0% )=2==

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ffi

2BKIHUDKFDS Q TICI KG aIEDC DcED<BWIUDKFD HICVI HI KLUBKIS +RB< -DCCRDEGS UBDUXYCG ;D<FIEI;G ;D RKI DcFDK<I NIUBHBI ;D;BEI;I I HI TBKFRCIS FRWG RKI WB;I FIKFGTDC<GKIH EGUG TCGND<BGKIH URQ IEFBWIS EI<B <BDUTCD DK 3RDYHI ;D HG< 4KVDHD<= 'UBVG;D HI< VCIK;D< EGUTG<BEBGKD<S DK <R #IK .BVRDH ;DH .BHIVCGS ;DH ECREDCG KGCFD ;D HI0IFD;CIH IKVDHGTGHBFIKIS <D KG< URD<FCI <DVRB;GC ;D 0CB<FLYIH ;D OBHHIHTIK;GS <GYCDFG;G DK <R< \KVDHD< Q ICE\KVDHD<= 'RFGC ;D WICBI< <DCBD< ;D;BEI;I< I HI WB;I ;D #IK2CIKEB<EG ;D '<M<S EGUG HI ;D 3RDYHI G !RI^RDEaRHIS DK IUYI< <D KG< URD<FCI EGUGRK VCIK EGHGCB<FI= *K <R< ERI;CG<S ^RD IUYBDKFI DK <R _TGEIS BKFCG;RED DHDVIKFD< ZLWDKD<S ^RD FIH WDb aIQI ^RD EGK<B;DCIC EGUG CDFCIFG< I HG ;BWBKG=

?=?= &DFIYHG< Q D<ERHFRCI<

+I EIKFB;I; Q EIHB;I; ;D HG< CDFIYHG< ^RD KG< aIK HHDVI;G I HI IEFRIHB;I; ;DH#DFDEBDKFG< D< IHVG CDIHUDKFD DcEDTEBGKIHS ;D IaM ^RDS EGK CDHIEBLK I HI< EDKFRCBI<IKFDCBGCD<S HI CDFIYHM<FBEI <DI RKG ;D HG< EITMFRHG< ;D U\< DKFB;I;S <BDK;GS BKEHR<GS DHDHDUDKFG ICFM<FBEG ;GK;D UDZGC <D BKFDVCIK Q ;D<ICCGHHIK HI< ICFD< TH\<FBEI<= .I<S KG<GHIUDKFD HI UIQGC EDCEIKMI FDUTGCIH aI ZRVI;G TG<BFBWIUDKFD DK <R NIWGCS <BKG ^RDIQR;I I DHHG HI NDYCBH IEFBWB;I; ICFM<FBEI VDKDCI;I TGC HI UB<UI "VHD<BI ^RD YR<EIYIEGK DHHG RK CDZRWDKDEBUBDKFG ;D <R< FDUTHG< Q EITBHHI< I YI<D ;D <R<FBFRBC <R< WBDZG<CDFIYHG<S TD^RDdG<S D<FCGTDI;G<S Q KG IEGC;D< EGK HI< EGGC;DKI;I< D<FBHM<FBEI< ;DHUGUDKFG G HI< KRDWI< ;DWGEBGKD<S TGC GFCG< U\< UGKRUDKFIHD< Q IEFRIHD<S BKEHR<GSDK GFCI< GEI<BGKD<S HI Yk<^RD;I ;D D<I UIQGC UGKRUDKFIHB;I; Q VCIK;DbIS aIYMIHHDWI;G I EGK<FCRBC RK KRDWG FDUTHG Q EITBHHI<S ^RD DWB;DKFDUDKFD aIYMI ^RD IURDXYHIC= $G;G DHHGS NCRFG ;D HI VCIK YGKIKbI DEGKLUBEI ^RD WBWD DH FDCCBFGCBG KGWGaB<TIXKGS TGC HG ^RDS DK ;DNBKBFBWIS IUYG< I<TDEFG< <GK HI UDZGC DcTCD<BLK ;D HI VCIK;DbI;D ._cBEG=

'aGCIS U\< ^RD KRKEIS <GK GYCIS ;D RK TCGHMNBEG FIHHDCS TCGTBD;I; ;D RK IC^RBFDEFGXDK<IUYHI;GCS ^RBDK EGK UDKFIHB;I; ;D DUTCD<ICBGS IVHRFBKI D<TDEBIHB<FI< DK FCIYIZICHI UI;DCIS HI TBKFRCI Q DH TGHBECGUI;GS DFE= 3GC HG ^RDS RKI WDb U\<S HI D<ERHFRCISIRK^RD WIQI ;GFI;I ;D RKG< CI<VG< <BKVRHICD<S NGCUI TICFD ;D D<D VCIK TCGED<GEGK<FCREFBWG ^RD I NBK ;D ERDKFI< D< HI NIYCBEIEBLK ;D RK CDFIYHG= *< WDC;I; ^RD DKfs@A HG< D<ERHFGCD< TB;DK I HI IRFGCB;I; EGCCD<TGK;BDKFDS Q HG EGK<BVRDKS <DC EGK<BX;DCI;G< EGUG RK VCDUBG BK;DTDK;BDKFD EGK GC;DKIKbI< TCGTBI<S UI<S IRK aGQS TD<DI ^RD HI BKWD<FBVIEBLK aB<FLCBEGXICFM<FBEI aI IWIKbI;G YI<FIKFDS EGKGEDUG< URQ TGXEG< KGUYCD< ;D D<ERHFGCD<=

#GK UREaG< HG< ICFB<FI<XDUTCD<ICBG< ;D HI CDFIYHM<FBEI ^RDS ;D<;D DH kHFBUG ERICFG;D HI EDKFRCBI IKFDCBGCS TCGQDEFIK <R IEFBWB;I; DK HI< TCBUDCI< ;_EI;I< ;DH #DFDEBDKXFG< v.IFDG ;D 3BKG<S $GU\< `R\CDbS .IKRDH ;D ,IWIS 2CIKEB<EG &G;CMVRDb ;D#IKFBIVGS DFE= v= .I< <R< CDFIYHG< <BVRDK <BDK;G VCIK;D< D<FCREFRCI< CDFBERHICD<S EGKHI EGHRUKI <IHGULKBEI EGUG DHDUDKFG ICFBERHI;GC TGC DcEDHDKEBI Q RKI VCIK TCGHBNDXCIEBLK ;DH GCKIFG= +G< CDFIYHG< ;D HI 0ITBHHI ;D HG< 'CE\KVDHD< ;D HI EIFD;CIH TCBUI;I;D ._cBEGS GYCI ;D .IKRDH ;D ,IWI vHI< TBKFRCI< ;D HG< HIFDCIHD< TDCFDKDEDK I0GCCDIvS <GK RK YRDK DZDUTHG ;D HG ^RD IEIYIUG< ;D DcTGKDC= #B D<FG IEIDED DKfsfpS FCD< IdG< IKFD< aIYMI ^RD;I;G ;D<BDCFG DH EGKERC<G EGKWGEI;G I NBK ;D CDIHBbIC



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ffj

"#")%&% O"0*,$* -'+-4#= &*$'-+% .'1%&="7+*#"' )* #',$' 3&"#0'S $'`0%=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ffg

eRKFG I HG< -IHY\<S GFCI NBVRCI NRK;IUDKFIH DK DH EIUTG ;D HI CDFIYHM<FBEI D<HI ;DH TGHBNIE_FBEG TBKFGC .BVRDH 0IYCDCI= ' _HS Q I <R< <GEBG< HG< DK<IUYHI;GCD<!BVBKBG 0a\WDb Q eG<_ eGI^RMK ;D #\HHIVG<S HD ;DYDUG< GFCG ;D HG< VCIK;D<EGKZRKFG< CDFIYHM<FBEG< ;D HI <DVRK;I UBFI; ;DH #DFDEBDKFG<= #D FCIFIS ;D HG< FCD<VCIK;D< CDFIYHG< ;D HI EIYDEDCI ;DH FDUTHG ZD<RMFBEG ;D $DTGFbGFH\KS ;D;BEI;G<I #IK 2CIKEB<EG eIWBDCS #IK "VKIEBG ;D +GQGHI Q HI OBCVDK ;D 7RI;IHRTD= #REGK<FCREEBLKS DKFCD fsAp Q fsAsS EGCCD TICDZI I HG< ;D $IcEGS BKFDVCIK;G DK HG<;DH ECREDCG I HI UB<UI IC^RBFDEFRCIS DK EGKECDFG HI< WDKFIKI< <RTDCBGCD<= %FCGDZDUTHG DcEDTEBGKIH <DCMI DH ;D HI "VHD<BI ;D HI *K<DdIKbIS DK HI EITBFIHS ;GK;DQI KG aIQ KBKVRKI IHR<BLK IH <GTGCFD vDH IK\<FBHG DK DH H_cBEG HGEIHvS TRD<<BUTHDUDKFD <D FCIFI ;D RKI VCIK EIHHD EDKFCIH THIKIS ;GK;D <D <RTDCTGKDK RKI<DCBD ;D aGCKIEBKI< TICI HI BUIVBKDCMIS CG;DI;I< Q DKWRDHFI< TGC RKI <DCBD ;DUGH;RCI< <DUBEBCERHICD< EGKE_KFCBEI<S ;GK;D <D D<FIYHDEDK CBEI< TDIKI< TICI HI<D<ERHFRCI<= "U\VDKD< ^RDS DK CDIHB;I;S <GK <BUTHD< EIC\FRHI< ;D UI;DCIS DKCB^RDXEB;I< EGK FDHI< DKEGHI;I<S ;\K;GKG< HI BUTCD<BLK ;D <DC CB^RM<BUI< D<ERHFRCI< ;DYRHFG CD;GK;G=

+G< DZDUTHG< DK FG;G DH OBCCDBKIFG <D TG;CMIK URHFBTHBEICS U\< EGUG EGKZRKFG<<GCTCDK;DKFD< ;DYDUG<S IRK^RD <GHIUDKFD <DI ;D TI<I;IS UDKEBGKIC I^RM HG< ;DqRDC_FICGS ;GK;D FDKDUG< DH VCIK FIHHDC ;D 3D;CG ;D &GZI< vEGK HG< <BKVRHICD<CDFIYHG< ;D HG< 0GKWDKFG< ;D #IKFI &G<I OBFDCYG Q #IKFI 0HICIvS HG< ;D %IcIEIvEGK HG< ;D HI "VHD<BI ;D #IK 2DHBTD ,DCB G DH ;DH WDEBKG TRDYHG ;D "cFH\K ;D `R\XCDbv G HG< ;D 7RIKIZRIFG vEGK HG< ;D HI "VHD<BI ;D HI 0GUTIdMI ;D eD<k< Q HG< ;D HIOIHDKEBIKIv=

3GC HG ^RD IFIdD I HI D<ERHFRCIS <B ;D EI<B FG;G< HG< CDFIYHG< UDKEBGKI;G<<IYDUG< DH KGUYCD ;D <R FCIEB<FIXDK<IUYHI;GCS HG< TBKFGCD< ^RD DK _H BKFDCWBKBDXCGK D BKEHR<G DH ;GCI;GCl <R BUIVBKDCMIS DK EIUYBGS <BVRD <BDK;G RK UB<FDCBG= *HHGWBDKD I ;DUG<FCICKG<S RKI WDb U\< ^RD DH D<ERHFGC Q <R GYCI D<F\K DK NRKEBLK ;DHEGKZRKFGS TGC HG ^RDS <B D< KDED<ICBGS <D CDI;ITFIK GYCI< DcB<FDKFD< IH KRDWGCDFIYHG= *< U\< WB<FI< IB<HI;IUDKFD HI< D<ERHFRCI< <GK <G<I< D BUTDC<GKIHD<S ;D FIHUG;G ^RD <DC\ DK _H ;GK;D DKERDKFCDK <R WDC;I;DCG Q EIYIH <DKFB;G= ,G GY<FIKXFDS DK I^RDHHI< ECDIEBGKD< KRDWI< TG;DUG< I;WDCFBC RKI< ERIKFI< KGFI< <BKVRHIXCD<= '<MS TGC DZDUTHGS <R YICCG^RB<UG KG ;DCBWI FIKFG ;D <R TCGTBI EGKNBVRCIEBLKIKIFLUBEI EGUG ;DH FCIFIUBDKFG ;D HG< THBDVRD< Q TIdG<= 3IRHIFBKIUDKFD <D WIBUTGKBDK;G HI TGHBECGUMI ;D FGKG< TRCG<S U\< EHICG< Q FDKRD< ^RD DK HI< _TGEI<IKFDCBGCD<S IRK^RD DH ;GCI;G Q D<FGNI;GS FIK ICCIBVI;G DK DH URK;G KGWGaB<TIKGS<BVRD D<FIK;G TCD<DKFD= 'aGCI IH NBKIHS HG< D<ERHFGCD< EGUYBKIK HI UI;DCI EGKFDHI< DK;RCDEB;I< EGK QD<G Q TGHBECGUI;I<S vDH CDFIYHG ;D HI "VHD<BI ;D HI *K<DXdIKbIS ;D HI 0GUTIdMI ;D .ICMIS D< RK YRDK DZDUTHGvS EGK HG ERIH <D IHBVDCIK HG<EG<FD<S HI< EICVI< Q DH CDFIYHGS KG< GNCDEDS DK EGKZRKFGS RKI WB<BLK U\< <RFBH QUGWB;I=

*<FG< UB<UG< TIC\UDFCG< <D TRD;DK ITHBEIC I HI< VCIK;D< TGCFI;I< ;D HI< BVHD<BI<S^RDS DK UREaI< GEI<BGKD<S EGUG DK HI EDKFRCBI IKFDCBGCS <GK WDC;I;DCG< CDFIYHG< ^RDKG< IKFBEBTIK DH ;D HI EITBHHI UIQGC= *ZDUTHG< EGUG HG< ;D $IcEGS $DTGFbGFH\K G #IK2DHBTD ,DCB ;D %IcIEIS IRK^RD DWB;DKFDUDKFD NCRFG ;D RK FCIEB<FI ;B<FBKFG vIaGCI DHIC^RBFDEFG DK ERD<FBLKvS <GK URQ <BVKBNBEIFBWG<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f?@

&*$'-+% .'1%&= "7+*#"' )* +' *,#*P',9'S ./`"0%S )= 2==

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f?f

3ICI HI BUIVDK ;DWGEBGKIH <D <BVRD TCDNBCBDK;G HI ;D TI<FI ;D UIMbS G HI ;D UI;DCIFCIYIZI;I< TGC HG< UB<UG< UID<FCG< DK<IUYHI;GCD<S DK UREaG< EI<G< FIUYB_K D<ERHFGXCD< vEGUG eRIK ;D &GZI< DK 0BR;I; ;D ._cBEG G 3D;CG ;D &GZI<S DK qRDC_FICGvSD BKEHR<G <D BUTGCFIK ;D HI 3DKMK<RHI= 1 DK D<FD EI<G <GK FIHHI<S ^RD EGK U\< YRDKIWGHRKFI; ^RD YI<D ;GERUDKFIHS <D IFCBYRQDK I UID<FCG<S NRK;IUDKFIHUDKFDS ;D HID<ERDHI <DWBHHIKI= 3GC kHFBUGS ;DKFCG ;D HI< <BHHDCMI< EGCIHD<S ;D HI< ^RD FDKDUG< UIVKMXNBEG< DZDUTHG< TRD< <GK UREaG< HG< FDUTHG< EIFD;CIHBEBG< G EGKWDKFRIHD< ^RD <DNBKIHBbIK DK D<FI EDKFRCBIS <GYCD<IHD TGC <R UIVKBFR; Q HI <BKVRHICB;I; ;D <R< ;B<DdG<S;D FBTG VDGU_FCBEG Q WDVDFIHS HI ;D HI 0IFD;CIH ;D 3RDYHI ;D HG< 4KVDHD<S CDIHBbI;IDKFCD fsfg Q fs?p TGC 3D;CG .RdGb=

p= +%# 0%."*,9%# )*+ ,*%0+'#"0"#.%

+G< TCBUDCG< UGWBUBDKFG< FDK;DKFD< I EGK<DVRBC HI BK;DTDK;DKEBI ;D HI UDFCLTGHBSICFM<FBEIUDKFD EGBKEB;DK EGK DH GEI<G ;DH YICCGEG NBKIH Q HI BUTHIKFIEBLK ;D HG< B;DIXHD< D<F_FBEG< U\< EH\<BEG< Q CBVGCB<FI<S FDKBDK;G DK DHHG UREaG ^RD WDC HI 'EI;DUBI ;D#IK 0ICHG< DK VDKDCIH Q HI NBVRCI ;DH WIHDKEBIKG .IKRDH $GH<\ DK TICFBERHICS EGK^RBDK EDCCIUG< D<FD EITMFRHG=

,IEB;G DK *<VRDCCI :OIHDKEBI> DK fsAsS HHDVI I ._cBEG DK fsgfS I NBK ;D GERTIC HIE\FD;CI ;D D<ERHFRCIS DK HI 'EI;DUBI ;D #IK 0ICHG<S HHDWIK;G EGK<BVG VCIK EIKFB;I;;D EGTBI< ;D D<ERHFRCI< EH\<BEI< DK QD<G ;D<FBKI;I< I HI ;GEDKEBI= )D<;D D<FD UB<UG\UYBFG ;BNRK;BC\ HI KRDWI GCKIUDKFIEBLK EHI<BEB<FIS I<M EGUG HI F_EKBEI ;DH ;GCI;G IHNRDVG= 0GUG ICFB<FIXTCGND<BGKIH <R IEFBWB;I; D< URQ WDC<\FBHS TRD< IYICEI DH EIUTG;D HI IC^RBFDEFRCIS IRK^RDS DK IHVRKG< EI<G<S D< <LHG RK VCIK ;DEGCI;GC G I;GCKB<FI;D BKFDCBGCD< vHG< ;D HI 3CGND<I G #IKFG )GUBKVG <GK RK YRDK DZDUTHGvS DH ;D HID<ERHFRCI Q DH CDFIYHG= 0GUG D<ERHFGC UIKDZI EGK UID<FCMI EI<B FG;G< HG< UIFDCBIHD< QF_EKBEI<S I<M DK YCGKED D< <R NIUG<G 0IYIHHBFG vRKI VCIK D<ERHFRCI DERD<FCD ;D;BEIX;I I 0ICHG< "OvS I ERQG< BK;R;IYHD< WIHGCD< TH\<FBEG< aIQ ^RD <RUIC HI TCGDbIF_EKBEI ^RD <RTR<G DH NRK;BCHI DK RKI <GHI GTDCIEBLKS G <R< WICBG< ECREBNBZG< TICI HI0IFD;CIH ;D .GCDHBIl DK UI;DCI TGHBECGUI;I <GK <R< YDHHI< Q DHDVIKFD< "KUIERHI;I<;D HI 3CGND<I G HI ;D HI 0IFD;CIH ;D 3RDYHIl DK TBD;CI HI< D<ERHFRCI< ;D HI< OBCFR;D<$DGHGVIHD< ^RD EGCGKIK HI NIEaI;I ;D HI 0IFD;CIH ;D ._cBEG= 2BKIHUDKFDS <R HIYGCEGUG DK<IUYHI;GC ^RD;I TIFDKFD DK KRUDCG<G< CDFIYHG<S QI FGFIHUDKFD KDGEH\<BEG<SIRK^RD <R GYCI U\< <BKVRHIC DK D<FD EIUTGS D< DH ;B<DdG ;DH UIZD<FRG<G Q <GYDCYBGEBTC_< vFIYDCK\ERHGv ;D HI 0IFD;CIH ;D 3RDYHIS BKBEBI;G DK fsgsS IRK^RDS TGC <RURDCFDS IEIYICMI eG<_ ;DH .IbGS DK fjfj=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f??

3*)&% .8P%9= #"++*&6' )* 0%&%= 0'$*)&'+ )* 38*-+' )* +%# 4,7*+*#=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f?p

#*+*00"J, )* ".47*,*#

e%#/ ̀ 84&*9= $&"8,2% )* +%# #',$%# e8#$% 1 3'#$%& :0= fiApXAA>=.8,'+S ./`"0%

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f?h

)DKFCG ;D HI DcFDK<I TCG;REEBLK TBEFLCBEI ;DH VCIK TBKFGC KGWGaB<TIKG ;DH TCBUDCYICCGEG eG<_ `R\CDb TGC <R IZR<FI;G ;BYRZGS HGVCI;G EGHGCB;G Q TCGNRK;B;I; T<BEGXHLVBEI ;D HG< CG<FCG< ;D HG< KBdG<S <GYCD<IHD D<FD DcEDTEBGKIH ERI;CGS ;D VCIK NGCUIXFGS ;D;BEI;G I HG< aDCUIKG<S <IKFG< U\CFBCD< IHEIHIMKG< ;D HI _TGEI ;D )BGEHDEBIKGSeR<FG Q 3I<FGC=

0GKEDYB;G EGUG RKI FMTBEI ITGFDG<B< <DWBHHIKI vHG< DEG< ;D &GDHI<S ;D 2CIKEB<EG!DCCDCIS DH OBDZG G ;D 9RCYIC\K <GK DWB;DKFD<vS HI GYCI D<F\ ;BWB;B;I DK ;G< CDVB<XFCG<= *K HI BKNDCBGCS HG< ;G< ;G< KBdG<S ;D TBD Q EGVB;G< ;D HI UIKG CDEBYDK HI< EGCGKI<;D NHGCD< ^RD ;G< \KVDHD< EGHGEIK <GYCD <R< EIYDbI<= +I D<EDKI <D ;D<ICCGHHI DK DHEDKFCG ;D RK D<TIEBG G<ERCG vRK D<FCI;G TCGTBG ;DH #DB<EBDKFG<v Q TGC D<G <R<;BUBKRFI< Q DKEIKFI;GCI< NBVRCI< <D ;D<FIEIK Q CDEGCFIK NCDKFD I RK VCIK URCG TDCNGXCI;G TGC ;G< VCIK;D< WDKFIKI< ;GK;D <D KG< GNCDEDK HI< ;G< D<EDKI< TCDWBI< I <RUICFBCBG Q FCBRKNG= ' HI Bb^RBDC;I DH UGUDKFG DK ^RD EGUTICDEDK IKFD HI IRFGCB;I;CGUIKI Q <GK IbGFI;G< TICI ^RD IYZRCDK ;D <R N_ Q I HI ;DCDEaI ERIK;GS RKI WDb QI;DEITBFI;G<S <R< BKNIKFBHD< EIYDEBFI< <GK UG<FCI;I< IH TRDYHG I<B<FDKFD IH IEFG=

8K ;DHBEBG<G IKVDHBFGS DK RK D<EGCbG <IYBIUDKFD ;B<TRD<FGS HD< ICCGZI NHGCD< Q <BCWDTRKFG ;D RKBLK EGK DH CDVB<FCG <RTDCBGC= 'aGCIS KG< ITICDED HI 7HGCBIS CDTCD<DKFI;I IFCIW_< ;D RKI <DCBD ;D \KVDHD< v;D I<EDK;DKEBI bRCYICIKD<EIv Q TD^RDdG< IKVDHBXFG< ^RDS NGCUIK;G RKI UD;BI EBCERKNDCDKEBIS DEaIK NHGCD< Q I;GCIK IH 0LC;DCGS <MUYGXHG TGC DcEDHDKEBI ;D 0CB<FG *REICB<FMIS ^RD GERTI DH EDKFCG Q ;BCBVD <R UBCI;I I HG<#IKFG< ,BdG<S ^RDS DK <R U\< FBDCKI BKNIKEBIS aIK ;I;G <R WB;I TGC /H=

0&"#$J-'+ )* O"++'+3',)%= +' O"&7*, )*+ '3%0'+"3#"# % $&"8,2% )* .'&6' :0= fijAXji>= 0'$*)&'+ )* ./`"0%S #'0&"#$6'

*K D<FI <IECB<FMIS ^RD TGC <R DcEDTEBGKIH UGYBHBICBG TG;DUG< EGK<B;DCIC EGUG RKWDC;I;DCG <IKFRICBG ;DH ICFD KGWGaB<TIKGS OBHHIHTIK;G <D EGK<IVCLS EGK _<FD Q GFCG<FCD< VCIK;D< ERI;CG< U\< vDH $CBRKNG ;D HI *REICB<FMIS ;D HI "VHD<BI Q ;D #IK .BXVRDHvS EGUG DH UDZGC TBKFGC IEFBWG ;DH UGUDKFG=

!DEaG I DcTDK<I< ;DH EIKLKBVG "VKIEBG ;D !GQG< #IKFBHHIKIS HI BKNHRDKEBI ;D&RYDK<S .RCBHHG Q ;D OIH;D< +DIH D< TIHTIYHD DK D<FD VCIK UD;BG TRKFGS THDFLCBEG ;DEGHGC Q ;D EGUTHDZI< Q CBEI< NBVRCI<= 0GKEDYB;GS <BVRBDK;G HI FCI;BEBLK aB<T\KBEIS DKWICBG< CDVB<FCG<S DK DH BKNDCBGC G FDCCDKIH HI VBVIKFD<EIS <GYDCYMI Q ;BK\UBEI NBVRCI ;D#IK .BVRDH 4KEIKVDHS HDWIKFI <R UIKG ;DCDEaI TICI YHIK;BC <R D<TI;I IH ;CIVLK GUG<FCRG ;D HI< <BDFD EIYDbI< vDH ;DUGKBGvS <DVkK HG< WDC<MERHG< s IH g ;DH EITMFRHGf? ;DH 'TGEIHBT<B<= ' HI Bb^RBDC;I <R DZ_CEBFG ;D \KVDHD< Q I HI ;DCDEaIS DH DWIKVDHB<FI#IK eRIKS IRFGC ;DH HBYCG DK ERD<FBLKS ;D TBDS UBCI I .ICMIS ^RD GERTI DH EDKFCG ;D HIEGUTG<BEBLK= 'aGCIS DK D<FD <DVRK;G THIKGS <D IYCD DH EBDHG TICI DKWGHWDC I HI .RZDCSEGK HI HRKI YIZG <R< TBD< Q RKI EGCGKI ;D f? D<FCDHHI< <GYCD <R EIYDbI = 8KI VCIKEGCFD ;D \KVDHD< Uk<BEG<S I RK HI;G Q GFCGS HI IHIYIKS UBDKFCI< GFCG< U\< TCLcBUG< QURQ URCBHHD<EG<S TGCFIK <MUYGHG< HIRCDFIKG<S ;D<FIEIK;G D<TDEBIHUDKFD DH ^RD HHDWIKDH D<TDZG G <MUYGHG UICBIKG TGC DcEDHDKEBI= 2BKIHUDKFDS HI OBCVDKS WD<FB;I ;D YHIKEGQ aDCUG<G UIKFG IbRHS UBCI aIEBI ICCBYI EGUFDUTHIK;G I RKG< \KVDHD< ^RD HD FCIDKSTGC DKEICVG ;D )BG< 3I;CDS ^RD GERTI DH UD;BG TRKFG Q ^RDS BVRIHUDKFD ITICDED

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f?A

CG;DI;G ;D RKI EGUTHDZI EGCFD EDHD<FBIH ;D \KVDHD< I;GCI;GCD< Q Uk<BEG<S IH ,BdGS <R!BZGS ^RD aI ;D CDVBC FG;I< HI< KIEBGKD< Q ^RD DH ;CIVLK BKFDKFGS WIKIUDKFDS ;DWGCIC=

qRDCDUG< FDCUBKIC D<FD EGUDKFICBG <DdIHIK;G ^RD <B DK EGKZRKFG HI FDHI aI <B;GEGK<B;DCI;I TGC FG;G< HG< D<FR;BG<G< EGUG RKI GYCI DcEDTEBGKIH ;DH YICCGEG KGWGXaB<TIKGS DH NCIVUDKFG BKNDCBGC ;D;BEI;G IH 4CEIKVDH #IK .BVRDHS TGC <R DKGCUD ;BKIXUB<UGS NRDCbIS BKFDK<G EGHGCB;GS DFE= D< <BK ;R;I RKG ;D HG< HGVCG< U\< DcEDH<G< ;DFG;G DH ICFD aB<T\KBEG=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f?i

e8', 0%&&*'= -"%.-% )* +%# 08'$&% *+*.*,$%# 1 +'# '&$*# +"-*&'+*# X',O*&#% 1 &*O*&#%X :fis@>= .8#*% 2&',9 .'1*&S./`"0%

eRIK 0GCCDIS ZRKFG EGK OBHHIHTIK;GS GERTI RK TRD<FG ;D aGKGC ;DKFCG ;D HI TBKFRXCI YICCGEI D<TIdGHI= *<FCBEFG EGDF\KDGS FCIYIZIK;G BKEHR<G IH UB<UG FBDUTG DK RKUB<UG TCGQDEFGS EGUG TR;G <DC HI ;DEGCIEBLK TBEFLCBEI ;D HI <IECB<FMI ;D HI 0IFD;CIH;D ._cBEGS <R TCG;REEBLK D< UREaG U\< IUTHBIS TRD< ITICFD ;D HI TBKFRCI CDHBVBG<ISIYICEL DH CDFCIFGS I<M EGUG GFCG< V_KDCG< aI<FI IaGCI TGEG EGKGEB;G<S FIH TRD;D <DC DH^RD KG< GERTI5 HI ;DEGCIEBLK ;D YBGUYG<S ;GK;D ;I CBDK;I <RDHFI I <R BUIVBKIEBLKDK FDUI< FIK KGWD;G<G< EGUG <GK HI aB<FGCBIS HI KIFRCIHDbIS HI UBFGHGVMI G DK ;DNBKBXFBWG FG;G I^RDHHG ^RD CD;RK;D DK DH ERHFBWG aRUIKB<UG=

3CGED;DKFD< ;DH DcFCDUG GCBDKFD D<FI< UIUTICI< UGWBYHD< ;D UI;DCIS NGCUI;I<TGC ;B<FBKFG< TIKDHD< ;D UI;DCIS ERDCGS FDHIS DFE= ^RD I WDED< <D <GHMIK ;DEGCICS IHEIKXbICGK RK IHFG ;D<ICCGHHG DK DH YICCGEG KGWGaB<TIKG TICI HI< VCIK;D< UIK<BGKD< ;D HIKGYHDbI HIMEI G DEHD<BI<FBEI G HI IHFI YRCVRD<MI ECBGHHI= *H ^RD KG< GERTIS ;D <DB<TIKDHD< Q ERQI NRDKFD ;D BK<TBCIEBLK <DVkK #IKFBIVG #DYI<FB\K TR;G <DC HI .DFIUGCX NG<B< ;D %WB;BGS D<F\ BKEGUTHDFGS TRD< <LHG FDKDUG< HI CDTCD<DKFIEBLK ;DH 'BCD Q ;D HI$BDCCIS TGC HG ^RD DK GFCI< TBDbI< ;DYBDCGK D<FIC CDTCD<DKFI;G< DH 'VRI Q DH 2RDVG=*K DH EICCG ;D HI $BDCCIS FBCI;G TGC ;G< YRDQD< YHIKEG<S ;D<NBHI FCBRKNIKFD 0BYDHD<STCGFDEFGCI ;D HI IVCBERHFRCIS HHDWIK;G DK <R UIKG Bb^RBDC;I RKI VCIK TIHIS UBDKFCI<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f?s

DK HG< DZD< ;D HI< CRD;I< ITICDEDK HG< <BVKG< bG;BIEIHD< ;D +DGS *<EGCTBLK Q OBCVG=.REaG UDZGC CD<RDHFI D< HI D<FIUTI ;DH EICCG ;DH 'BCDS FBCI;G TGC ;G< T\ZICG<S ^RD<BUYGHBbIK D<FD DHDUDKFGS HI ;BG<I 0HGCB< G 2HGCIS <DKFI;I HHDWI DK <R UIKG Bb^RBDC;IRK VCIK CIUG ;D NHGCD< Q IaGCI DK HI< CRD;I< FDKDUG< HG< <MUYGHG< ;D 7_UBKB<S $IRCGQ 0ITCBEGCKBG=

3GC HI GFCI EICIS DK <R< <DB< TIKDHD<S ITICDEDK NBVRCI;I< GFCI< FIKFI< 'CFD< +BYDCIXHD<S I <IYDCS HI 7CIU\FBEIS HI '<FCGKGUMIS HI &DFLCBEIS HI 7DGUDFCMIS HI 'CBFU_FBEI Q HI.k<BEI vkKBEIUDKFD NIHFI HI )BIH_EFBEIv= #BK ;R;I D<FIUG< IKFD HI UDZGC CDTCD<DKXFIEBLK ;D HI< 'CFD< +BYDCIHD< ;DH ICFD aB<T\KBEG= +G< UG;DHG< ;D eRIK 0GCCDI <GK ZLWDKD< DHDVIKFD< Q aDCUG<I<S IFIWBI;I< I HI UIKDCI EH\<BEIS DKWRDHFI< DK DHDVIKFD<TIB<IZD<S HHDWIK;G I <R< TBD< RKI EICFDHI EGK EBCEG WDC<G< DcTHBEIFBWG< ;D <R NRKEBLKQ D<TICEB;G< TGC ;B<FBKFG< HRVICD< <R< IFCBYRFG< TDC<GKIHD< vHI 7CIU\FBEI5 RK HBYCGIYBDCFG Q RKI FIYHI EGK DH IHNIYDFGl HI '<FCGKGUMI5 RKI D<NDCI bG;BIEIHS RK I<FCGHIYBGQ RKI YCkZIHIl HI &DFLCBEI5 RK BUIK EGK IHNBHDCD< <GYCD <R EIYDbI Q RK HBYCGl HI 7DGUDXFCMI5 RK EGUT\< Q RKI< THGUI;I<l HI 'CBFU_FBEI5 RK \YIEG Q HI .k<BEI5 ;G< TICFBFRCI<UR<BEIHD<=

."78*+ 0'-&*&'= #%& e8',' ",/# )* +' 0&89 :fsA@>= .8#*%,'0"%,'+ )* !"#$%&"'S ./`"0%

*K DH ERHFBWG ;DH CDFCIFG 0IYCDCI KG FRWG CBWIHS TRD< KG <D CD;RED <LHG I ITHBEIC HI<CDEDFI< FCI;BEBGKIHD< <BKG ^RD KG< TCGQDEFI HI WB;I BKFDCBGC ;DH CDFCIFI;G= -RDK DZDUXTHG ;D DHHG D< DH ^RD TCGTGKDUG<S ERQG TRKFG ;D CDNDCDKEBI D< DH ^RDS DK fsfpS HDaBEBDCI I HI CDHBVBG<I ZDCLKBUI eRIK ;D .BCIK;IS CDIHBbI;G I <R WDb I TICFBC ;D GFCGEGDF\KDG I HI URDCFD ;D #GC eRIKIS DK figA=

*KEICVI;G TGC <R< aDCUIKI< ;D CDHBVBLKS HI< UGKZI< ;DH .GKI<FDCBG ;D #IK eDCLKBXUGS ;D HI 0BR;I; ;D ._cBEGS D<FI GYCI CD<RHFI DcEDTEBGKIH TGC <R< ;BWDC<G< <BVKBNBEIX;G<S <GYCD FG;G DK RK UGUDKFG DK ^RD HI URZDC DK VDKDCIH KG DCI GYZDFG ;D D<TDEBIHEGK<B;DCIEBLK <GEBIH= *<FD CDFCIFG ;D HI )_EBUI .R<I EGUG DCI EGKGEB;I DK *RCGTITGC <R TCGWDCYBIH <IYB;RCMI KG< URD<FCI I HI CDHBVBG<I DK <R D<FR;BGS <DKFI;I ;DHIKFD;D <R UD<I ;D FCIYIZG Q WGHWBDK;G HI EIYDbI TICI UBCIC IH D<TDEFI;GC= #R NBVRCI ;DRKI <RYHBUD YDHHDbI EGK HI UIKG Bb^RBDC;I BKFDKFI TI<IC HI aGZI ;DH HBYCG ^RD HDD QEGK HI GFCI <RZDFI DH CG<ICBGS EGK DHHG D<F\ <BVKBNBEIK;G DH ;CIUI ;D <R WB;IS ^RD <D;DYIFBL DKFCD DH BKFDHDEFG Q HI CDHBVBLKS ;B<QRKFBWI ^RD ;D KRDWG <D WRDHWD I CDTCD<DKXFIC DKFCD HI D<ECBYIKMI ;D HI Bb^RBDCI Q HI ECRb ^RD TDK;D <GYCD <R aGUYCG= 0GUGFDHLK ;D NGK;G RKI HBYCDCMIS CDTHDFI ;D FMFRHG<S ;D HG< U\< WICBI;I< UIFDCBI<S Q RK VCIKCDHGZS I UG;G ;D DHGERDKFD WIKBFI<S TICI CDEGC;ICHD HI NBKBFR; ;D HI< EG<I< FDCCDKIHD<=%FCG< UREaG< DHDUDKFG< Q IFCBYRFG< KG< URD<FCI DH ERI;CGS U\< DK KBKVRKI UIKDCI;B<FCIDK HI IFDKEBLK ;DH D<TDEFI;GC ^RD ^RD;I BKUD;BIFIUDKFD EIRFBWI;G TGC HI VCIKKGYHDbI ;D D<FI URZDC TGDFB<I Q <IYBIS ^RD TGC RKI <DCBD ;D CIbGKD< URQ KGCUIHD< DK<R _TGEI <D WBL IYGEI;I I DKFCIC DK CDHBVBLKS ERQI UBCI;I TCGNRK;I Q TDKDFCIKFD <DEGKWBDCFD DK DH EDKFCG ;D HI EGUTG<BEBLK= *K HI TICFD BKNDCBGC RKI HICVI HDQDK;I KG<;I BUTGCFIKFD< KGFBEBI< ;D <R WB;IS ;D <R D<TDEBIH EGK<B;DCIEBLK <GEBIH ;D ^RD NRDGYZDFGS TICI FDCUBKIC 0IYCDCI INBCUIK;G ^RD D<FD CDFCIFG D<F\ <IEI;G TRKFRIHUDKFD

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$f?j

;D HI EGTBI NBDH ^RD === HI< CDHBVBG<I< VRIC;IK EDHG<IUDKFD DK DH EGKWDKFG===S DWB;DKFDXUDKFD D< I<MS U\< D< GYWBG ^RD HG <RTDCI EGK ECDED< Q QI KG <LHG TGC <R< DcEDTEBGKIXHD< ;GFD< EGUG TBKFGC <BKGS DK D<FD EI<GS TGC HI I;UBCIEBLK TDC<GKIH ^RD <DKFMI TGC HICDFCIFI;IS ;D ERQG NIHHDEBUBDKFG QI <D aIYMI ERUTHB;G DH UD;BG <BVHG=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# f?g

e*&J,".% -'+-4# 1 %$&%#= &*$'-+% .'1%& •% )* +' 0'3"++' )*+%# &*1*# )* +' 0'$*)&'+ )* ./`"0% :fsfsXfs?s>

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fp@

+I HHDVI;I ;D eDCLKBUG -IHY\< I HI ,RDWI *<TIdIS DK fsfjS FDK;C\ EGUG GYZDFBWGNRK;IUDKFIH aIEDC<D EICVG ;D HI CDIHBbIEBLK ;DH CDFIYHG ;D HI 0ITBHHI ;D HG< &DQD<S QI^RD DH EGKERC<G EGKWGEI;G IH DNDEFG DK fsf@ aIYMI ^RD;I;G ;D<BDCFGS I TD<IC ;D ^RDaIYMIK EGKERCCB;G HG< UDZGCD< ICFB<FI< ;DH UGUDKFG=

%CBRK;G ;D 9IUGCIS -IHY\< HHDVIYI IWIHI;G TGC RKI IUTHBI FCIQDEFGCBI TCGND<BGKIHDK HI 0GCFDS EGUG FCIUGQB<FI ;DH FDIFCG ;DH 3IHIEBG &DIHS Q DK 'K;IHREMI %CBDKFIHSEGUG CDFIYHB<FIS ECDIK;G RK IEFBWG FIHHDC ^RD EGK <R URDCFD DK fshjS TDCWBC\ VCIEBI<I <R aBZG I;GTFBWG "<B;GCG OBEDKFD -IHY\<=

0GK D<FD CDFIYHG D<EDKICBGS TRD< GERTI FG;G DH aRDEG ;D HI EITBHHI UIQGCS -IHY\<ECDIC\ RK UG;DHG ;D DKGCUD CDTDCER<BLK TG<FDCBGCS TRD< ;B<FGC<BGKI FG;I HLVBEI ICX^RBFDEFLKBEI vYIKEGS TB<G< Q \FBEG DK aGCBbGKFIH Q EIHHD< Q DKFCDEIHHD< DK HG WDCFBXEIHv= .IFDCBIHBbI;G DKFCD fsfj Q fs?AS YDK;DEB;G DK fsps Q IEIYI;G ;D ;GCIC TGC2CIKEB<EG .ICFMKDbS DK fsh?S TCD<DKFI RKI UGKRUDKFIH EIHHD EDKFCIHS NHIK^RDI;I TGC;G< UGKRUDKFIHD< D<FMTBFD< VDGU_FCBEG<S ;GK;D <D <RTDCTGKDK ;G< VCIK;D< HBDKbG<UICBIKG<S UBDKFCI< GFCG< ;G< D<FMTBFD< DcFCDUG< VDKDCIK ;G< D<FCDEaI< EIHHD< HIFDCIHD<=+G< DKFIYHIUDKFG< aIK TDC;B;G FG;I <R DKFB;I; Q KG <LHG <GK D<FG< ERIFCG VCIK;D<D<FMTBFD< HG< ^RD UICEIK HI D<FCREFRCI <BKG ^RD GFCG< U\< TD^RDdG< <RY;BWB;DK I <RWDb HI< EIHHD< DcFCDUI<= "KEHR<GS HI BUIVBKDCMIS IaGCI IKLKBUIS QI KG <D IHGZI <GHIUDKXFD DK HI< aGCKIEBKI< ECDI;I< Dc TCGND<G TICI DHHIS <BKG ^RD ITICDEDK DK HG< HRVICD<U\< BK<G<TDEaI;G<= 3GC kHFBUG RKI KRYD ;D IKVDHBFG<S EGK HI< U\< ;BWDC<I< IEFBFR;D<SDKCB^RDEDK DH CDFIYHG Q HD ;IK RK IBCD FGFIHUDKFD KGWD;G<G=

"EGKGVC\NBEIUDKFD ;G< <GK HG< UGFBWG< NRK;IUDKFIHD<= 3GC RK HI;GS EGUG <D FCIFI;D HI 0ITBHHI ;D HG< &DQD<S DK IHR<BLK I HI UGKIC^RMI D<TIdGHIS TIFCGKG< ;DH FDUTHGSI^RDHHG< UGKICEI< ^RD aIK IHEIKbI;G HI <IKFB;I;S EGUDKbIK;G TGC D<TIdGHD< #IK2DCKIK;G Q #IK !DCUDKVBH;GS Q TGC GFCG HI;G HG< TCBKEBTIHD< UGUDKFG< ;D HI WB;I ;DHI OBCVDKS EGK RK FCIFIUBDKFG D<TDEBIHS KG DK WIH;D DH FDUTHG EIFD;CIHBEBG D<F\ EGK<IXVCI;G I HI '<RKEBLK ;D .ICMI= #R IRFGC NRD eRIK &G;CMVRDbS RK TBKFGC ;D I^RBHIFI;IFCIQDEFGCBI ICFM<FBEIS ERQI TCG;REEBLK CD<RHFI EHIWD DK HI FCIK<BEBLK ;DH THDKG YICCGEGIH CGEGELS ;D<FIEIK;G Y\<BEIUDKFD HG< ;G< VCIK;D< HBDKbG< ;D HI EIHHD UD;BIHS EGK<IXVCI;G< I HI *TBNIKMI Q I HI '<RKEBLK ;D .ICMI I HG< EBDHG<=

3GC FG;G DHHGS D<FD VCIK CDFIYHGS ;GK;D FCIYIZICGK HG< UDZGCD< ICFB<FI< ;DH UGUDKFGEGUG -IHY\< Q &G;CMVRDb `R\CDbS Q ;DH ^RD DcB<FD KRUDCG<G< Q HGIYHD< EGUDKFICBG<SFRWG RKI VCIK BKEB;DKEBI DK HI CDFIYHM<FBEI TG<FDCBGCS I<M TRD<S I TICFBC ;D _HS HI< D<FCREXFRCI< EI;I WDb <DC\K U\< THIKI< Q <R< DHDUDKFG< T<DR;GX<R<FDKFIKFD<S YBDK D<FMTBFD<S^RD IaGCI <D CDWIHGCBbIKS G TBHI<FCI<XD<FMTBFD< ^RD I;^RBDCDK HI< NGCUI< U\< ;B<TICD< DSBKEHR<GS <D ;GFIK ;D U_K<RHI< G ;D TD^RDdI< aGCKIEBKI< TICI HI< BU\VDKD<S <D VDKDXCIHBbIK D BUTGKDK EGK VCIK NRDCbI DK FG;G< HG< CDFIYHG<=

.',8*+ $%+#4 1 e%#/ #'+.J,= 0"3&/# % $'-*&,408+% )* +'0'$*)&'+ )* 38*-+' )* +%# 4,7*+*# :fsgsXfjfj>

#DC\ DH 0GKEBHBG ;D $CDKFG :fAhAXfifp> DH ^RD BUTGKVIS NCDKFD I &DNGCUI 3CGFD<XFIKFDS DH ERHFG <GHDUKD I HI *REICM<FBI= ' TICFBC ;D IaGCI DH <IVCICBG TCD<B;BC\ DH CDFIYHGUIQGC ;D FG;I< HI< BVHD<BI<S ^RD <D ;GFIC\K ;D UIKBND<FI;GCD< Q FIYDCK\ERHG< EGK FIH



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fpf

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fp?

NBK= +I EIFD;CIH IKVDHGTGHBFIKIS UDCED; IH UDEDKIbVG ;DH BKGHWB;IYHD GYB<TG )= eRIK;D 3IHINGc Q .DK;GbI :fih@Xfihg>S HDWIKFIC\ RK TCBUDC FIYDCK\ERHGS <BVRBDK;G DH;B<DdG ;I;G TGC <R IC^RBFDEFG Q TBKFGC .G<_K 3D;CG 7ICEMI 2DCCDC= *<TDEFIERHICU\^RBKI YICCGEIS <DVkK HI< ;D<ECBTEBGKD< HBFDCICBI< EGK<DCWI;I<S ^RDS URQ I NBKIHD<;DH #DFDEBDKFG<S DH 0IYBH;G 0IFD;CIHBEBG ;DEB;D <R<FBFRBC TGC GFCG KRDWGS U\< <DKEBHHG;D HMKDI<S IRK^RD <M UREaG U\< WGHRUBKG<G Q UGKRUDKFIHS <BDK;G <R FCIEB<FI Q ;B<DXdI;GCS DH IEI;_UBEG ;D GCBVDK WIHDKEBIKGS ;D DcFDK<I TCDTICIEBLKS .IKRDH $GH<\S<BDK;G YRDKI TCRDYI ;D DHHG HI GYCI ^RD KG< GERTIS ;GK;D D<F\ URQ TCD<DKFD

0GK<FCRB;G DKFCD fsgs Q fjfjS D<S DK CDIHB;I; D< RK VCIK YIH;I^RBKG ;D THIKFIEBCERHICS DK ERQG BKFDCBGC <D IHGZI DH FIYDCK\ERHG DREICM<FBEG TCGTBIUDKFD ;BEaG= *KD<DKEBI DH YIH;I^RBKG <BVRD URQ ;D EDCEI DH FDUTHDFD CDKIEDKFB<FI ;D #IK 3BDFCG BK.GKFGCBGS ;D -CIUIKFDS <B YBDK EGBKEBDK;G EGK TRKFG< EIC;BKIHD< DH DKFIYHIUDKFG <DCGUTD TICIS I FCIW_< ;D RKI< DHDVIKFD< DUYGEI;RCI<S ;BCDEFIUDKFD BK<TBCI;I< DK HITGCFI;I ;D HI BVHD<BI CGUIKI YICCGEI ;D #IK 'K;C_< ;DH qRBCBKIH ;D -DCKBKBS TDCUBFBCXKG< WDC DH FIYDCK\ERHG DK <MS ;GK;D <D DcTGKD HI ER<FG;BI EGK HI *REICB<FMIS UBDKFCI<DK HG< BKFDCEGHRUKBG< HIFDCIHD< FDKDUG< RKI< D<YDHFI< FIHHI< EGK HG< 3I;CD< ;D HI"VHD<BIS ;DYB;G< IH D<ERHFGC )= eG<_ 3IFBdG "cFGHBK^RD= *H <DVRK;G ERDCTG <D CDUIFIEGK RKI EkTRHI VIHHGKI;I UGKFI;I <GYCD RK IHFG FIUYGCS ;GK;D <D IHFDCKIK ICEG<VCIK;D< Q TD^RDdG<S Q EGCGKI;I DK <R EHIWD TGC RKI aDCUG<I D<ERHFRCI ;D #IK3D;CGS DH 3CBKEBTD ;D HG< 4TL<FGHD<=

*H FIYDCK\ERHG DK <M D< RK ERI;CI;GS EGK HG< HI;G< IEaINHIKI;G<S Q EGCGKI;GBVRIHUDKFD TGC RKI EkTRHIS TDIKI I <R WDb ;D RKI aDCUG<I "KUIERHI;I |FBFRHIC ;D HIEIFD;CIHXS UG;DHI;I TGC $GH<\ Q NRK;B;I DK YCGKED TGC eG<_ #IHULK= 0I;I RKG ;D HG<ERIFCG HI;G< HHDWI <R TGCFDbRDHI ;D YCGKED EGK RKG ;D HG< *WIKVDHB<FI< DK CDHBDWD=$IH TGCFDbRDHI UD;BIKFD RK UDEIKB<UG YIZIK IH RKM<GKG ;DZIK;G I HI EGUTHIEBLK ;DHG< NBDHD< HI *REICB<FMI=

3GC FG;G DHHGS D<FD DcEDTEBGKIH EBTC_< IKVDHGTGHBFIKGS EGK RK EGUTHDZG Q EGUTHDFGTCGVCIUI BEGKGVC\NBEG UICBIKG Q DREICM<FBEGS TGC HI CB^RDbI ;D <R< U\CUGHD<S ZI<TD<SUDFIHD< KGYHD< Q D<FREG<S I<M EGUG TGC DH UGWBUBDKFG ;D <R< WGHkUDKD< D< RKI GYCIUID<FCG ;DH ICFD KGWGaB<TIKGS U\< EDCEIKI IH YICCGEG BFIHBIKG ^RD I HI <DWDCB;I;TCGTBI ;DH KDGEHI<BEB<UG=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fpp

f= 0'-&*&'S .BVRDH= .ICIWBHHI 'UDCBEIKI Q EGKZRKFG ;D &ICI< .ICIWBHHI<= ._cBEGS *;BFGXCBIH eR<S #='=S fgssS 3\V<= ??Xp@=

'3/,)"0* )%08.*,$'+

"= )*#0&"30"J, )* ."78*+ 0'-&*&' )*+ +"*,9% )* +' O"&7*, )*78')'+83*~

0GK HG ;BEaG aI<FI I^RM UD TICDED aIYDC ERUTHB;GS <DVkK DH EIR;IH ;D UB< EGCFI<NRDCbI<S EGK HI ;DEHICIEBLK ^RD <D UD UIK;L aIEDCS Q EGKNBD<G EGK FG;I BKVDKRB;I;S^RD UD aI EG<FI;G FIKFG FCIYIZG NGCUIC D<FG< ERI;DCKG<S ERIKFG ZRbVG EG<FICMI I RKD<ECBFGC KI;I WDC<I;G DK HG< TBKEDHD<S DZDERFIC EGK DHHG< RKI BUIVDK= '<M TRD<S EGUGEGKEBYG KI;I TIVI;G ;D <R GYCI I DH ^RD <BK <IYDC UIKDZIC HG< EGHGCD< <D aRYBD<DBKFCG;REB;G I TBKFICS I D<FD UG;G UD EGKNRK;G QG ERIK;G CDNHDZG <GYCD UB UIH D<ECBXFIS TDCG URQ WDCM;BEI ;DEHICIEBLK= OIHD ^RD FDKVG HI ;B<ERHTIS ^RD QI ;BZDS ;D aIYDC<B;G UIK;I;GS HG ^RD D<TDCG FIUYB_K UD <DCWBC\ TICI TCG<DVRBC EGK DH ;B<DdG ^RDTCGUDFM aIEDC ;D HI UICIWBHHG<I "UIVDK ;D 7RI;IHRTD=

$BDKDS TRD<S DH TGCFDKFG<G HBDKbG DK FG;I <R IHFRCIS ;G< WICI< Q RK ;GEDIWGS Q ;DIKEaG TGEG U\< ;D WICI Q ERICFIl Q D<FD IHFG Q IKEaG aIEDK HG< ;G< HBDKbG< IdI;B;G<;D ^RD <D EGUTGKD= qR_;IHD HI EG<FRCI TDCTDK;BERHICS <BK FGEIC I DH YDHHM<BUG CG<FCGlD<F\K EG<B;I< HI< ;G< TBDCKI< G HBDKbG< ;D HI WDKFRCG<I $BHUI EGK I^RDH NC\VBH aBHG ;DIHVG;LK ;D ^RD aIYH_ DK DH TIC\VCING TCBUDCG=

*< HI <IVCI;I Q YBDK ;B<TRD<FI D<FIFRCI ;D KRD<FCI &DBKIS ;D HG< FIUIdG< Q TCGTGCXEBGKD< ^RD ;BZBUG< aIYHIK;G ;D <R ;BYRZGl CDTCD<DKFI DK <R CDFCIFG HI D;I; ;D EIFGCEDG ^RBKED IdG<S EGUG FIUYB_K ^RD;I ;BEaG= 0GK^RD <LHG KG< CD<FI DK D<FD ;B<DdG ;IC<DdI< BK;BWB;RIHD< ;D KRD<FCI UICIWBHHG<I "UIVDK=

*< <R IUIYBHM<BUG CG<FCG ;D FIH EGKFDcFRCIS ^RD KB D< ;DHVI;G KB VCRD<G= 0GKERCCDKDK _H I^RDHHI< TICFD< ;D ^RD <D EGUTGKD RKI YRDKI TBKFRCIS EGUG <GK <R aDCUG<RCIS<RIWB;I; Q CDHBDWD= )_ZIK<D WDC DK _H RKG< TDCNBHD< DK HG< GZG<S KICBb Q YGEI FIK;BYRZI;G< :D<FG D<S EGK FIH ICFD> ^RD <BK IVCIWBG ;D HI< FCD< TICFD< ;BEaI< HD IVCDVIK FIHYDHHDbI ^RD ICCDYIFI HG< EGCIbGKD< I ERIKFG< HGVCIK WDCHD= +I NCDKFD D< YBDK TCGTGCXEBGKI;IS I HI ^RD HD EIR<I DH TDHGS ^RD D< KDVCGS D<TDEBIH aDCUG<RCIS IRK D<FIK;G DKI^RDH UG;G <DKEBHHGS ^RD KG< ;BEDKS R<IYIK HI< BK;BI< KGYHD< ;D D<FD &DBKG= +I< EDZI<<GK ;DHVI;I< Q KG CDEFI<l HG< GZG< YIZG< Q EGUG ;D TIHGUIS FIK ITIEBYHD< Q IUIYHD<S^RD D< BKDcTHBEIYHD DH CDVGEBZG Q CDWDCDKEBI ^RD EIR<I DH WDCHG<= +I KICBb DK YDHHIS QEGCCD<TGK;BDKFD TCGTGCEBLK EGK HI< ;DU\< TICFD<S D< HBK;I= +I YGEI D< RKI UICIWBHHIlFBDKD HG< HIYBG< URQ ;DHVI;G<S Q DH BKNDCBGCS G TGC EGKFBKVDKEBI G UB<FDCBG<IUDKFD HDEIQL DK RKI UICCI G KR;G ;DH IQIFDS ^RD DHDW\K;GHG RK FIKFG ERIKFGS HD ;I FIH VCIEBIS^RD EGUG <D <GKCMD DUYDHD<I= +I YICYI EGCCD<TGK;D EGK BVRIH;I; I FIKFI YDHHDbI QaDCUG<RCI= +I< UDZBHHI< <GKCG<DIK Q DH EGHGCB;G D< TGEG U\< UGCDKG ^RD DH ;D TDCHI=+I VICVIKFI D< CD;GK;I Q URQ TDCNDEFIl Q DK NBK D< D<FD YDK_NBEG CG<FCG RK EGUTDKX;BG ;D TDCNDEEBGKD<S TRD< I^RDHHI IUIYBHB;I; IFCIEFBWI FIK CD<TDFIYHD ^RD <D DcTDCBXUDKFI IH WDCHIS ECDG ^RD CD<RHFI ;D I^RDH EGKZRKFG ;D ;BWBKI< TDCNDEEBGKD< ^RD DK _HCD<B;DK=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fph

3B<I TDCTDK;BERHICUDKFD FG;I <R ;DHBEI;I D<FIFRCI DK DH TBD ;DCDEaG ^RD I<BDKFI<GYCD HI HRKIS HI ^RD D< ;D EGHGC ;D FBDCCI GY<ERCIS EGK HI< TRKFI< G DcFCDUG< TICIICCBYI= *<F\ FDCEBI;G G BKEHBKI;G EGK DH <IVCI;G CG<FCG FG;G <R ERDCTG <GYCD DH HI;G;BD<FCG= $BDKD HI< ;DHBEI;I< UIKG< TRD<FI< Q ICCBUI;I< I DH TDEaG DK I;DU\K G UGWBXUBDKFG ;D ^RBDK aRUBH;DUDKFD TB;DS Q DK HI UB<UI EGKNGCUB;I; FDCEBI;I<= +I FkKBEID< CG<I;IS Q DK ;GK;D HD aBDCD HI HRb URQ EHICI Q FIK YDHHIUDKFD FCIYIZI;G< G DZDERFIX;G< <R< FCIbG< Q EIdGKD<S ^RD D< I;UBCIEBLK ;D HG< BKFDHBVDKFD<= $BDKD RKI IYDCFRCIDK DH ERDHHG IYGFGKI;I EGK RK D<ER;G G UD;IHHI ;D GCG EGK DH <BVKG ;D HI #IKFI 0CRbaDEaI ;D EGHGC KDVCG EGK UREaG I<DG Q ;D<;D I^RM HD NHRQD aI<FI HI< <IVCI;I<THIKFI<S DK ;GK;D IBCG<IUDKFD ;D<EIK<IS ;D<TCDK;B_K;G<D RK DcFCDUG ^RD CDEBYD DH\KVDH :EGUG ;D<TR_< WDCDUG<>= *<F\ NGCCI;I EGUG ;D NDHTI YHIKEIS HI ^RD ;D<ERYCDDK DH ERDHHG Q WRDHFI< ;D HI< UIKVI<S ;GK;D <D ;DZIK WDC I<M DH ERDHHG ;D HI EIUB<IEGUG HG< TRdG<S QI _<FG< HD IVCIEBIK RKG< TRKFBFG< ;D GCG ^RD <GK ;BDb DK RKG QGKED DK GFCG=

)D DH ;GCI;G ;D HI FkKBEIS I U\< ;D D<FIC DH GCG YI<FIKFDUDKFD ERIZI;GS QI ;BZBUG<HG DcFCIdG ;D <R ;BYRZGl <GYCD DH TBD ;DCDEaG I TGEI ;B<FIKEBI ;DH EIdLK TCBKEBTIH^RD ;D<EIK<I <GYCD _H DK RKI ^RBDYCI ^RD aIEDS FBDKD RK KkUDCG GEaGS MK;BEDS I UBWDCS EGK ^RD KG< IERDC;I ^RD <R TGCFDKFG<I Q TCBUDCI ITICBEBLK NRDS ;DKFCG ;D HIGEFIWI ;D <R 0GKEDTEBLK 3RCM<BUIS ;D ERQG UB<FDCBG D< HI U\< NBDH Q IZR<FI;I EGTBIl <BKG D< ^RD ;BVI ^RD D<FD KkUDCG KG< ^RBDCD ;DEBC ^RD D< HI %EFIWI .ICIWBHHI ;DH.RK;G=

3GC EMKVRHG FBDKD RKI EBKFI UGCI;I ;D ;G< ;D;G< ;D IKEaGS ^RD IFI;I DK UD;BG ;DHI EBKFRCI <D HD WDK <RDHFG< <R< DcFCDUG<= *H UIKFG HD ERYCD UG;D<FIUDKFD TICFD ;D HIEIYDbIS <GYCD DH ^RD FBDKD HI CDIH EGCGKI ^RD <D EGUTGKD ;D ;BDb TRKFG< G CIQG<l Q;D<;D I^RM ;D<EDK;BDK;G TGC DH HI;G ;DCDEaG aI<FI ;D<EIK<IC <GYCD HI HRKIS ;D<EGHXV\K;G<D IkK U\< IYIZG ;D DHHI DH DcFCDUG ;D ;GK;D D<F\ I<B;G DH \KVDH ^RD <G<FBDKDlQ TGC DH GFCG HI;G HG FBDKD TCD<G DK DH YCIbG Q ;D IaM HD YIZIS UIKBND<F\K;GKG< I TGEI;B<FIKEBI DH NGCCG ^RD D< TGEG U\< EHICG ^RD DH UIKFGS Q WBDKD I FDCUBKIC U\< IYIZG ;DDH DcFCDUG ;D HI HRKIS Q HG ;DU\< <D GERHFI FCI< ;D HI #DdGCI= #R EGHGC KG D< IbRHSEGUG <D aI TBKFI;GS <BKG ;D RK EGHGC ^RD KB YBDK D< TDCNDEFIUDKFD WDC;DS KB IbRHS <BKGRK IVCI;IYHD UD;BG DKFCD D<FG< ;G< EGHGCD<S EGUG QI ;BZD= #MCWDKHD ;D YBDK EGKEDKXFCI;G I;GCKG Q ERICDKFI Q <DB< D<FCDHHI<5 WDBKFD TGC DH HI;G ;BD<FCG Q TGC DH GFCG WDBKFDQ ERIFCGS HI< ^RD DK GC;DK EGHGEI;I< NGCUIK EI;I ERIFCG ;D DHHI< RKI ECRbl Q DK D<FDUG;G RKI< EGK GFCI< HHDKIK WB<FG<IUDKFD DH TCDEBG<G UIKFGS I DcEDTEBLK ;DH NGCCG^RD KG FBDKD KBKVRKI=

' U\< ;D HI HRKI FBDKD TGC FCGKG ;D <R< #IVCI;I< 3HIKFI< RK \KVDH ^RD UIKBNBD<FIYI<FIKFDUDKFD DK <R FBDCKG <DUYHIKFD HI IHDVCMI CDWDCDKFD EGK ^RD <BCWD I <R &DBKI=$BDKD BKEHBKI;I HI EIYDbI <GYCD DH HI;G Bb^RBDC;GS Q <D ;DZI WDC aI<FI U\< IYIZG ;DHTDEaG= +I FkKBEI ;D ^RD <D WB<FD D< CG<I;IS I HI ^RD IYCGEaI DH ERDHHG RK YGFLKIUICBHHG :KG ;D GCG EGUG <D aI ;BEaG>= 1I ;BZD aIYHIK;G ;D ,RD<FCI #DdGCIS ^RD TGCD<FD HI;G <D HD ;D<TCDK;D HI NBUYCBI ;D HI FkKBEI Q TGC DH ;DCDEaG HI ;D DH UIKFGS Q ;DD<FG< ;G< DcFCDUG< D<F\ I<B;G DH aDCUG<G IFHIKFDS EICVIK;G <GYCD <R EIYDbIl Q DK DHDKERDKFCG ;D HI IHI Bb^RBDC;I HI HRKIS <GYCD ^RBDK TB<I .ICMI #IKFM<BUIS ERQG EIHbI;GD< ;D EGHGC IUICBHHG GY<ERCG= *<F\ D<FD VHGCBG<G D<TMCBFR DK I;DU\K G UGWBUBDKFG ;D^RBDK IEIYI ;D WGHICl Q D<FG <D EGKGED KG <LHG DK HI IEFBFR; G UGWBUBDKFG ^RD KG<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fpA

CDTCD<DKFI <R ;BYRZGS <BKG FIUYB_K DK HI< IHI<S ^RD FDKB_K;GHI< I UD;BG CDEGVDCS TICDXED ^RD QI <R<TDK;BL <R WRDHGS FIUYB_K HG ;I I DKFDK;DC DH ^RD KG EICVI EGK HI IHI;DCDEaI TICI <G<FDKDC= $B_KDHI< UIFBbI;I< DK RK UG;G ^RD aI<FI IaGCI KG <D aI WB<FGDZDERFI;G TGC TBKFGC IHVRKGl TGC^RD HI< THRUI< ;D RKI Q GFCI <D ;BWB;DK DK FCD<EHI<D< R LC;DKD<S ;D UIKDCI ^RD HG< ;G< DKERDKFCG< <GK ;D RK IbRH NBKM<BUG I ^RD <D<BVRD RK GC;DK ;D THRUI< IUICBHHI< Q HI< ;D DH FDCEDC GC;DKS DKEICKI;I<S IRK^RD D<FG<EGHGCD< KG <GK FIK WBWG< G <RYB;G< EGUG <RDHDK TBKFICHG<=

$BDKD TGC CD<TIH;G KRD<FCI 7RI;IHRTD &DBKI RK <GH ^RD aDCUG<IUDKFD HI CG;DIS DH^RD <D EGUTGKD ;D EBDKFG Q WDBKFBKRDWD CIQG<5 <D<DKFI Q ;G< TGC DH HI;G ;DCDEaG Q<D<DKFI Q <BDFD TGC DH <BKBD<FCGS FIK HREB;G< Q YBDK DZDERFI;G< ^RD ;I ^RD I;UBCIC <RYRDKI ;B<TG<BEBLK= !IQ BVRIH ;B<FIKEBI DKFCD RKG< Q GFCG<S <GK RKG< RK FIKFG ERIKFG<DCTDI;G<S EGUG ^RD EDKFDHHDIKS Q HG< GFCG<S CDEFG<S D<F\K EGHGEI;G< DK D<FD GC;DK5RKG CDEFG Q GFCG <DCTDI;G= #MCWDHD ;D NGK;G I D<FD HRUBKIC DH EIUTG ^RD <D ;DZI WDCDKFCD <R< CIQG< DK RK UG;G DcFCIdGS TGC^RD DK DH EGKFGCKG ;D HI #DdGCI D< FIKYHIKEGS ^RD TICDED D<FIC CDWDCYDCIK;G= ' _<FD <D HD BKFCG;RED RK EGHGC IUICBHHG IHVGEDKBEBDKFG Q <D EGKEHRQD TGC DH EGKFGCKG ;D KRYD< EGK RK EGHGCB;G TGEG U\< YIZG^RD CGZG= $DCUBKIK HG< CIQG< DK TRKFI aI<FI EI<B FGEIC DK HI< KRYD< Q _<FI< aIEBDK;GRK CGUTBUBDKFG HD NGCUIK I KRD<FCI &DBKI RK KBEaG R GCHI DK ERQG EDKFCG D<F\ <R&DIH 3DC<GKI=

*<FD D< DH YCDWD ;B<DdG ^RD aD TG;B;G FCI<HI;IC I D<FI< UIH NGCUI;I< HMKDI<S Q _<FDD< DH UIQGC TCG;BVBG ^RD <D aI WB<FG DK D<FI HMKDI5 Q DK NBKS D<FGS EGK FG;G HG ^RD aDUIKBND<FI;GS UD aI aDEaG ;DEBC ^RD IRK^RD IHVRKG BVKGCICI <R GCBVDK Q FCI;BEBLKS<LHG EGK WDCHI HI EGKND<ICMI TGC <GYCDKIFRCIHS <DVkK DKFBDK;G=

1I HI WDC;I;S €^RB_K TG;C\ ;R;IC HG TGCFDKFG<G ;D D<FI 3BKFRCI <B EGK IFDKEBLKCDNHDZI DK HI BKEGCCRTEBLK UICIWBHHG<I ;DH HBDKbGS ERIK;G I EI;I TI<G DcTDCBUDKFIUG<DK GFCG< ;D UDZGC EIHB;I; <R ;D<FCREEBLKS IRK D<FIK;G EGK I^RDHHI< TCDWBI< ;B<TG<BXEBGKD< ^RD HD< <BCWIK ;D UREaG CD<VRIC;G~ *K HG GC;BKICBG Q ;D<TCGTGCEBGKI;G ;DHHBDKbGS ;GK;D <D ;DZI WDC FIK aDCUG<I EGUG YBDK IEIYI;I= *K HI NIHFI FGFIH ;D ITICDZGFIK KDED<ICBG DK HI< TBKFRCI< ;D D<FI D<TDEBDS TRD< IRK DK DH V_KDCG U\< <RIWD Q U\<NBKI <D;I KG <D DcER<I ;D IHVRKI ;B<TG<BEBLK I NBK ;D aIEDC FCIFIYHD HI <RTDCNBEBD Q ;D^RD HG< EGHGCD< KG <D FCIK<TGCFDK I DH CDWDC<G ;D DH HBDKbG= *K HI NB;DHB;I; ;D <R;BYRZG KG UDKG< CICG Q Dc^RB<BFG ERIKFG TCBUGCG<IUDKFD DZDERFI;GS TRD< KG HD aIKTG;B;G BUBFIC HG< U\< DcEDHDKFD< TBKFGCD<= *K HI WICBD;I; ;D ERIFCG D<TDEBD< G D<FBHG<;D TBKFIC FIK ;BWDC<G<S ^RD ZIU\< <D aIK WB<FG RKB;G<l Q I^RM KG <LHG <D RKDKS <BKG^RD FG;G< EGK<TBCIK I HI NGCUIEBLK ;DH U\< YDHHG FG;G ^RD TRD;D EGKEDYBC HI NIKFIX<MI= *K DH <BKVRHICM<BUG ;GCI;GS ^RD <D TRD;D ;DEBC ^RD D< GFCI D<TDEBD ;D TBKFRCISTRD< I;UBCI I FG;G< HG< TDCBFG< <R DcFCIdDbS <R ITIEBYBHB;I; ;D EGHGCS <R BUTCD<BLKSEGK FG;G HG ;DU\< ^RD ^RD;I ;BEaG=

3GC D<G ZRbVG ^RD IRK^RD KG aRYBDCI I NIWGC ;D HG UBHIVCG<G ;D D<FI TBKFRCI HI<BK;RYBFIYHD< EBCERK<FIKEBI< ^RD KG< HI TDC<RI;DK <GYCDKIFRCIH Q UBHIVCG<IUDKFD TBKXFI;IS EGUG <GK HI BKUDUGCBIH FCI;BEBLK ;D TI;CD< I aBZG< <BK aIYDC WICBI;G DK HG<RY<FIKEBIH KB DK RK \TBED DKFCD HG< D<TIdGHD< KB IRK DKFCD HG< BK;BG<l DH ZRCIUDKFG^RD aBEBDCGK DH IdG ;D fiii HG< U\< E_HDYCD< U_;BEG< Q TCGFGU_;BEG< ;D D<FI EBR;I;I NIWGC ;D HI UBHIVCG<I BKEGCCRTEBLK ;D HI "UIVDK 7RI;IHRTIKIl DH ^RD DH UB<UG IdGaBEBDCGK HG< U\< DcEDHDKFD< TBKFGCD< I NBK ;D aIEDC TIFDKFD HG UBHIVCG<G ;D D<FI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fpi

3BKFRCI= 'RK^RD NIHFICIS ;BVGS FG;G D<FGS <LHG HI WB<FI ;D D<FI EDHD<FBIH UICIWBHHI DNBEIbXUDKFD TDC<RI;DS Q U\< I HG< BKFDHBVDKFD<S ^RD FG;I D< GYCI UBHIVCG<IS Q ^RD DcED;DEGK EHICM<BUI< WDKFIZI< I ERIKFG TRD;D HHDVIC HI UIQGC WIHDKFMI ;DH ICFD5 DH HBDKbG TGC<M Q TGC HG ^RD D< TBKFRCIS D< DH U\< IRF_KFBEG FD<FBUGKBG ;D DH UBHIVCGS DK RK UG;GFIK <GYDCIKG D BKEGUTCDK<BYHDS ^RD KG <D TRD;D DcTHBEIC EGK HI UIFDCBIHB;I; ;DKRD<FCG D<FBHG=

1 DH aIYDCKG< ;DZI;G KRD<FCI )RHEM<BUI .I;CD D<FI UBHIVCG<I UDUGCBIS YDHHM<BUGCDFCIFG <RQGS TICDED ^RD NRD I;ITFIC<D I DH D<FBHG G HDKVRIZD ;D HG< BK;BG<l TRD< EGUG<IYDUG<S DHHG< KG EGKGEBDCGK GFCI< D<ECBFRCI<S <MHIYI< G NCI<D< U\< TDCUIKDKFD< ^RDHI< DcTCD<BGKD< <BUYLHBEI< G ZDCGVHMNBEI<S ;DH TBKEDHl ^RD ^RB<G HI #GYDCIKI 3CBKED<I aGKCIC DK D<FG< &DBKG< DH ICFD ;D HI TBKFRCISNCIK^RD\K;GKG< KG DK RKI <GHIS <BKG DK ERIFCG D<TDEBD< ;D TBKFRCI<S CDTDFB;G< HG<UBHIVCG< ^RD EGUTCRDYIK <R WDC;I; Q HI UIFDCKIH UB<DCBEGC;BI TICI EGK FG;G D<FD,RDWG .RK;GS ;DZ\K;GKG< I HG< TBKFGCD< UGFBWG ;D RKI <IKFI WIKB;I; DK <R TDCDXVCBKI TBKFRCI= OBWIUG<S TRD<S IVCI;DEB;G< I FIK VCIK YDKDNBEBGS KG <LHG TGC DH D<THDKX;GC Q KGYHDbI ^RD ;D I^RM CD<RHFI I HI TBKFRCI <BKG UREaG U\<S TGC^RD <DUDZIKFDNIWGC aI<FI aGQI KBKVRKI GFCI KIEBLK <D aI EGKED;B;G]=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fps

0'36$8+% 08'&$%3",$8&' *, *+ ,8*O% &*",% )* 7&',')' 1

'8)"*,0"' )* q8"$%

'RK^RD HI 'R;BDKEBI ;D qRBFG ;DTDK;BL TGHMFBEI Q I;UBKB<FCIFBWIUDKFD ;DH WBCCDBXKIFG ;DH 3DCkS D<FI ERD<FBLK ZRCM;BEI KG TRD;D ITHBEIC<D EGUG KGCUI DcEHRQDKFD DK HG^RD I HI< UIKBND<FIEBGKD< ICFM<FBEI< CD<TDEFI= qRBFG FRWG RKI DKGCUD Q KGFGCBI BKXNHRDKEBI IH KGCFD ;D <R< NCGKFDCI< Q URQ D<TDEBIHUDKFD DK HG ^RD IEFRIHUDKFD <GK HG<FDCCBFGCBG< ;D 0GHGUYBI Q ODKDbRDHI= *H BKFDCEIUYBG ;D ICFB<FI<S GYCI< Q <GYCD FG;G ;DUG;DHG< ;D NGCUIEBLK Q ;BNR<BLKS aIEDK ^RD ;D<;D DH BKBEBG ;D HG< WBCCDBKIFG< DK DH<BVHG `O"S D<FD BKFDCEIUYBG <RTR<BD<D HI NGCUIEBLK ;D GFCG D<TIEBG VDGVC\NBEIUDKFDU\< IUTHBG ^RD I^RDH ;DFDCUBKI;G TGC HI EBR;I; ;D qRBFG=

*< DWB;DKFD ^RD EGK DH FBDUTG HI BKNHRDKEBI KG NRD RKBHIFDCIH Q ^RD ,RDWI 7CIKIX;I EGKFCBYRQL I DKCB^RDEDC DH \UYBFG ERHFRCIH EGK HI BKFCG;REEBLK ;D ERHFG< FIKTGTRHICBbI;G< EGUG HI OBCVDK ;D 0aB^RBK^RBC\ G HI RFBHBbIEBLK <B<FDU\FBEI ;D UIFDCBIXHD< TCGTBG< ;D HI EG<FI ;DH 0ICBYD EGUG DH EICDQ=

f= +' *#08*+' )* #', ',)&/#5 3&".*&' *#08*+' )* '&$* *, q8"$%

+I HHDVI;I I qRBFG DK fApA ;DH NCIKEB<EIKG eG;GEG &BEnD :fhgjXfAsj> UICEI DHBKBEBG ;D HI EGK<FCREEBLK ;DH EGKWDKFG ;D #IK 2CIKEB<EG Q HI NRK;IEBLK ;D HITCBUDCI D<ERDHI ;D ICFB<FI< ;D #R;IU_CBEI5 HI *<ERDHI ;D #IK 'K;C_<= *K _<FIS HI_HBFD BK;MVDKI NRD DKFCDKI;I TICI ;BNRK;BC DH EIFDEB<UG Q NRD BK<FCRB;I DK RK FIHHDC;D ICFD ;BCBVB;G TGC 2CIQ 3D;CG 7G<<DIH ;D +GWIBKI= *<FD EDKFCG NGCUL HI< YI<D< ;DHI D<ERDHI ^RBFDdI Q TCG;RZG <R TCGTBI VDKDCIEBLK ;D ICFB<FI< HGEIHD< I NBKIHD< ;DH<BVHG `O"=

+I HIYGC ;D 3D;CG 7G<<DIH EGKGEB;G EGUG NCIQ 3D;CG 3BKFGCS ;BG EGUG CD<RHFI;GICFB<FI< ;D HI FIHHI ;D 'K;C_< #\KEaDb 7IHH^RDS ERQI NIUI D<F\ HBVI;I IH DKWMG I HG<CDQD< D<TIdGHD< ;DH CDFCIFG +G< EBUICCGKD< ;D *<UDCIH;I< :.R<DG ;D 'U_CBEI> Q ;D2CIQ 3D;CG -D;LK WBKERHI;G I HI EGNCI;MI ;DH &G<ICBG Q UID<FCG ;D GFCG< ICFB<FI<

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fpj

EGUG 'HGK<G 0aIEaIS 0CB<FLYIH ,IRTIS 2CIKEB<EG 7GEBIHS 2CIKEB<EG 7RBZIHS 2CIKEB<EGOBHEIEaGS eDCLKBUG OBHEIEaGS eRIK eG<_ O\<^RDb Q #DYI<FB\K 7RIHGFGS DKFCD GFCG<=

*K _<FDS EGUG DK UREaG< GFCG< EI<G<S DcB<FBL RKI CDHIEBLK ;BCDEFI EGK 0GHGUYBI=*H TI;CD -D;LK FCIYIZL DK $RKZIS D<FIYHDEBLS IH BVRIH ^RD DK qRBFGS HI EGNCI;MI ;DH&G<ICBG Q ;DZL TBKFRCI< DK DH CDNDEFGCBG ;DH EGKWDKFG ;GUBKBEIKG= 2RD IHRUKG ;D-DCKIC;G -BFFB Q 'KVDHBKG .D;GCGS IUYG< BFIHBIKG<=

+I HHDVI;I I qRBFGS I FCIW_< ;D ._cBEGS ;D ICFB<FI< D<TIdGHD< EGUG eRIK ;D "HHD<XEI<S +RB< ;D &BWDCI Q )BDVG ;D &GYHD< ZRKFG EGK DH TBKFGC KITGHBFIKG 'KVDHBKG.D;GCGS EGKFCBYRQL IH ;D<ICCGHHG TD;IVLVBEG Q ICFM<FBEG ;D HI *<ERDHI ;D #IK 'K;C_<=

?= 3",$8&' *, q8"$% 1 *, ,8*O' 7&',')' *, *+ #"7+% `O"

)RCIKFD D<FG< TCBUDCG< IdG< ;D EGHGKBbIEBLKS <RCVBDCGK DK HI CDVBLK ;G< EDKFCG<;D BUTGCFIKEBI ICFM<FBEI5 qRBFG Q $RKZI= #D FCIFL ;D RK UGUDKFG ;D DcTDCBUDKFIXEBLK Q ;D BUTG<BEBLK ;D HDKVRIZD< KRDWG<S IRK^RD HI UIQGCMIS <B DcEDTFRIUG< I'K;C_< #\KEaDb 7IHH^RDS <D HBUBFL I FCIK<TGKDC HI BEGKGVCINMI CDHBVBG<I EGKGEB;I=3CDWIHDEBL HI TBKFRCI WBKERHI;I I HI< EGNCI;MI< Q I HG< DKEICVG< ;D HI< LC;DKD<CDHBVBG<I<=

*H TCBUDC KGUYCD CD<DdI;G ;D TBKFGC D< DH ;D 'HGK<G ;D ,ICW\Db ERQI kKBEI GYCIEGKGEB;I D< HI BUIVDK TGTRHICM<BUI DK 0GHGUYBI Q FDKB;I TGC UBHIVCG= 0%,O*,$% )* #', 2&',0"#0%S #= `O"=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fpg

$8,e' :0%+%.-"'>= 0'#' )*+ *#0&"-',% e8', )* O'&7'#S #= `O"=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fh@

p= $8,e' :0%+%.-"'>= 0'#' )*+ *#0&"-',% e8', )* O'&7'#S #= Ò"=

TBI;G ;D<FIEI HI EGUTG<BEBLK UD;BDWIHS ^RD <D UIKFRWG DK DH \UYBFG;D HI< UIKBND<FIEBGKD< TH\<FBEI< TGTRHICD< Q TBI;G<I< ;DH WBCCDBKIFG=

qRBb\< HG U\< ;D<FIEI;G ;D D<FD TDCBG;G <D DKERDKFCI DK $RKZI= #D FCIFI ;D RKI TBKFRCIURCIH DK RK D<TIEBG DcEDTEBGKIHS ;GK;D <D ;I ERDKFI ;D RK UD;BG aRUIKB<FI Q ;D EIYIXHHDCMI= *KFCD HG< KRUDCG<G< DZDUTHG< ̂ RD DKEGKFCIUG< TG;DUG< ;D<FIEICS TGC <R DcEDTEBGXKIHB;I;S HI EI<I ;DH D<ECBYIKG eRIK ;D OICVI< Q HI EI<I ;D )GK 7GKbIHG #R\CDb &DK;LK=#GYCD HI< TBKFRCI< ;D HI TCBUDCI TG;DUG< CD<DdIC ̂ RD <D FCIFI ;D HI< U\< IKFBVRI< DKEGKXFCI;I< DK HI EBR;I;S ;GK;D <D EGUYBKIK FDUI< UBFGHLVBEG< Q CDHBVBG<G< EGK CDTCD<DKFIEBGXKD< ;D IKBUIHD< <IHWIZD< Q NIKF\<FBEG<= +I IRFGCMI ;D D<FI< TBKFRCI< D< IkK BKEBDCFI IRK^RDFG;G< HG< ;IFG< ITRKFIK I RK TBKFGC HGEIH NGCUI;G TGC RK ICFB<FI DcFCIKZDCG EGK HI IQR;I;D TGYHIEBLK UD<FBbI D BK;MVDKI= *K ERIKFG I HI IRFGCMI BKFDHDEFRIH ;DH TCGQDEFG ;G< <GKHI< TG<BYBHB;I;D<5 DH <IEDC;GFD Q D<ECBFGC eRIK ;D 0I<FDHHIKG<S ̂ RD TG<DMI RKI IUTHBI ERHFRXCI aRUIKM<FBEI Q RKI D<TH_K;B;I YBYHBGFDEI G 2DCKIK;G ;D 0I<FCG Q OICVI< vaBZG BHDVMFBUG;D eRIK ;D OICVI<v Q CDEFGC ;D HI EIFD;CIH ;D #IKFIN_=

+I EI<I ;D #R\CDb &DK;LKS NRK;I;GC ;D HI EBR;I; ;D $RKZIS NRD D;BNBEI;I IUD;BI;G< ;DH <BVHG Ò"= +I< TBKFRCI<S CDIHBbI;I< TGC RK IRFGC HGEIH ;D<EGKGEB;GS <DDKERDKFCIK DK DH <DVRK;G TB<G Q CDTCD<DKFIK IKBUIHD< Q WDVDFIHD< EGK RK UDK<IZD<BUYLHBEG= *<FI< GYCI< D<F\K BK<TBCI;I< DK HG< VCIYI;G< ;D .IFDG .DCB\S DH WBDZG=*<FI< TBKFRCI< EGCCD<TGK;DK I ;G< _TGEI<5 HI< aIHHI;I< DK DH <DVRK;G TB<G <GK ;DHTCBUDC FDCEBG ;DH <BVHG Ò"" Q HI TBKFRCI ;D NCB<G< EGUTRD<FG< DK HI TICFD IHFI ;D HI<UB<UI< aIYBFIEBGKD<S NRDCGK CDIHBbI;I< DK RKI _TGEI IKFDCBGC=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fhf

$8,e' :0%+%.-"'>= 0'#' )* )%, 7%,94+% #84&*9 &*,)J,S #= `O""=

$8,e' :0%+%.-"'>= 0'#' )* )%, 7%,94+% #84&*9 &*,)J,S #= `O""=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fh?

p= *+ #"7+% `O""5 +' '8)"*,0"' )* q8"$%

)G< NBVRCI< ;GUBKIC\K DH TIKGCIUI ;DH <BVHG `O""5 .BVRDH ;D #IKFBIVG :fippXfs@i>S ^RBFDdGS Q 7CDVGCBG O\<^RDb 0DYIHHG< :fipjXfsff>S ;D -GVGF\= $IKFG qRBFGEGUG -GVGF\ CDTCD<DKFIC\K HG< EDKFCG< U\< BUTGCFIKFD< ;D TCG;REEBLK ;RCIKFD DH<BVHG <BK GHWB;IC GFCG< HRVICD< ;D BUTGCFIKEBI DK ;GK;D <D ;D<ICCGHHICGK FIHHDCD< ;DTBKFGCD< IKLKBUG<=

.BVRDH ;D #IKFBIVG CDTCD<DKFI DH D<TMCBFR ;GEFCBKIH ;D HI _TGEI= #R GYCIS RKI ;DHI< U\< DcFDK<I< Q EGUTHDZI< ;DH URK;G ;DH YICCGEG IUDCBEIKGS BKEHRQD D<FI WB<BLKVHGYIHS RK [EGUTDK;BG ;GEFCBKICBG]= *K <R< GEaG ERI;CG< TICI #IK 2CIKEB<EG ;DqRBFG GY<DCWIUG< UIK;IUBDKFG<S TDFBEBGKD< ;DH 3I;CD ,RD<FCGS <IECIUDKFG<S GYCI<;D UB<DCBEGC;BIS WBEBG< Q WBCFR;D< ^RD DH TBKFGC FRWG ^RD CDHIEBGKIC ;DKFCG ;DHD<TIEBG TBEFLCBEG ;D NGCUI I<D^RBYHD TICI RK TkYHBEG UD;BIKIUDKFD DCR;BFG= +IRFBHBbIEBLK ;D \KVDHD<S IHDVGCMI< NDUDKBKI< G NBVRCI< ;D GYB<TG< HD <BCWDK EGUG[TCD<DKFI;GCD<] ;D HG< UDK<IZD< YMYHBEG<= $IUYB_K CDIHBbL HG< 'CFMERHG< ;D 2DS TICIHI EIFD;CIH ;D -GVGF\S Q GFCG VCRTG ;D GKED GYCI< ;D;BEI;I< IH 'WD .ICMI ;D<FBKIX;I I HI BVHD<BI ;D #IK 2CIKEB<EG ;D HI UB<UI EBR;I;S ^RD DcTCD<I DH WMKERHG DKFCDqRBFG Q -GVGF\=

*<FD TBKFGC CDTCD<DKFL HI UIQGCMI ;D FDUI< ;DH CDTDCFGCBG BEGKGVC\NBEG= +I< <DCBD<;D HI< WB;I< ;D HG< <IKFG< ;D HI< ;BWDC<I< LC;DKD< NRDCGK RKI EGK<FIKFD DK HG< EGKXWDKFG<S CDEGHDFI< Q UGKI<FDCBG< ;D ,RDWI 7CIKI;I Q qRBFG= +I EGKGEB;I OB;I ;D #IK 'VR<FMK ;DH EGKWDKFG ;DH UB<UG KGUYCD DK qRBFGS KG< <BCWD TICI <DdIHIC HI BUTGCFIKXEBI ;D HI GYCI VCIYI;I ;D #EaDHFD -GH<tDCF= .BVRDH ;D #IKFBIVG <BVRBL <R UG;DHGYI<FIKFD NBDHUDKFDS UIKFDKBDK;G BKEHR<G DH NGK;G TIB<IZM<FBEG GCBVBKIHS EG<I ;B<FBKFI IHG ^RD aICMI DH TBKFGC ERb^RDdG -I<BHBG 3IEaDEG EGK HI UB<UI <DCBD EGUG UG;DHG TICIHI GYCI ^RD aBbG TICI DH EGKWDKFG IVR<FBKG ;D +BUIS IH BKEGCTGCIC HI EIFD;CIH Q HITHIbI ;D 0RbEG=

*H VR<FG ;D .BVRDH ;D #IKFBIVG TGC DH TIB<IZD <D ITCDEBI DK RKI <DCBD ;D UI;RXCDbS HG< .BHIVCG< ;D HI OBCVDK ;D 7R\TRHG :fs@@> DK DH <IKFRICBG ;D 7R\TRHG DKqRBFG= *cB<FD RK ;GUBKBG DcFCIGC;BKICBG ;D HI F_EKBEIS D<TDEBIHUDKFD ;D<FIEI;I TGCRK TBKEDH URQ <RDHFGS RKI IY<FCIEEBLK YI<FIKFD UICEI;I <GYCD FG;G DK DH FCIFIUBDKXFG ;DH TIB<IZD Q RK VCIK EGKGEBUBDKFG ;D HI TDC<TDEFBWI I_CDIS ZRKFG EGK RKI ;D<FIXEI;I CD<GHREBLK DK DH FCIFIUBDKFG IKIFLUBEG Q DK HI EGUTG<BEBLK VDKDCIH ;D HI<GYCI<=

*KFCD <R< ;B<EMTRHG< ;D<FIEI eIWBDC ;D 7GCMYIC :fiiAXfspi> ^RD EGKFBKRL <RFCI;BEBLK TBEFLCBEI Q DK HI '<RKEBLK ;D HI OBCVDK S ;DH EGKWDKFG ;D 7R\TRHGS CDECDIHI D<EDKI EDKFCIH Q TBKFI RK CDFIYHG IHCD;D;GCS EGK <R< EIHHD< Q EI<I< EGCCD<TGKX;BDKFD<=

' _H <D aIK IFCBYRB;GS DK UD;BG ;D RKI VCIK TGH_UBEIS ^RD KRKEI ^RD;L ;DNBKBXFBWIUDKFD CD<RDHFIS HG< ;BDEB<_B< TCGNDFI< ;D HI 0GUTIdMI ;D eD<k< ;D qRBFG ^RDaICMI EGK UGFBWG ;D HI FDCUBKIEBLK ;D HI VCIK GYCI ;D CD<FIRCIEBLK ;D HI BVHD<BI= #R<ERCBG<I< TG<D< UIKBDCB<FI< Q ;CITDI;I<S <D DcTHBEIK I TICFBC ;DH aDEaG ;D ^RD NRDXCGK TICEBIHUDKFD EGTBI;I< ;D VCIYI;G< ;DH 3ICUBVBIKBKG= #IKFBIVG #DYI<FB\K ECDD^RD HI EGUTG<BEBLK CDERDC;I IH 'TG<FGHI;G ;DH NHIUDKEG .ICFBK ;D OG<S VCIYI;GTGC {BDCBc Q D;BFI;G TGC 7DCIC; ;D eG;D=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fhp

."78*+ )* #',$"'7% :*08')%&>= +' &*7+' )* #', '78#$6, :#= `O"">=

h= 0%+%.-"' *, *+ #"7+% `O""5 +' )",'#$6' )* +%# 2"78*&%'

*H FIHHDC ^RD U\< BKNHRQL DK HI< EICIEFDCM<FBEI< D<F_FBEI< ;D HI _TGEI Q DK DH ^RD <DNGCUICGK HI UIQGCMI ;D HG< TBKFGCD< ;DH TIKGCIUI ICFM<FBEG WBCCDBKIH NRD DH ;D HI NIUBHBI2BVRDCGI= ' _H D<FRWBDCGK WBKERHI;G< WICBG< TBKFGCD< ;D D<FD ITDHHB;G ^RD HHDKICGKU\< ;D RK <BVHG ;D UI;RCDb TBEFLCBEIS ^RD ITCGcBUI;IUDKFD <D DcFBDK;D DKFCD fifAQ fspj=

+G< 2BVRDCGI TCGED;MIK ;D #DWBHHIS IRK^RD DH ITDHHB;G ;DHIFI <R GCBVDK TGCFRVR_<=*H TCBUDC 2BVRDCGI HGEIHBbI;G DK ,RDWI 7CIKI;I NRD -IHFI<IC ;D 2BVRDCGI [DH OBDZG]=#R aBZG 7I<TIC ;D 2BVRDCGIS KIEB;G <DVkK IHVRKG< IRFGCD< DK #DWBHHI Q GFCG< DK.ICB^RBFIS D< HI VCIK NBVRCI ICFM<FBEI ;D HI NIUBHBI= %CVIKBbL RK BUTGCFIKFD FIHHDC DK-GVGF\ ^RD EDKFCI HI IEFBWB;I; ICFM<FBEI ;D HI bGKI= *KFCD <R< GYCI< TG;DUG< ;D<FIEIC<R #IK .ICFMK ;D $GRC< ;D fihsS <BFRI;G DK DH UR<DG ;D HI BVHD<BI ;D #IKFI 0HICI ;D-GVGF\=

#R aBZGS -IHFI<IC ;D 2BVRDCGIS aBbG IRUDKFIC HI IEFBWB;I; ;DH FIHHDC ^RD aDCD;IC\ ;D<R TI;CD= +I EHBDKFDHI IER;BL I _H IYRK;IKFDUDKFD ;RCIKFD FG;I <R WB;IS I TD<IC ;D^RD KG <D ;B<FBKVRBL TGC DH ERUTHBUBDKFG ;D <R< EGKFCIFG<S HG ^RD HD GYHBVL I INCGKFICTHDBFG< Q CDEHIUIEBGKD<= ' TD<IC ;D <R TCD<FBVBG CDVBGKIH Q ;D HI IUTHBI EHBDKFDHI ;DEGURKB;I;D< CDHBVBG<I< Q ;D ;DWGFG< ^RD <GHBEBFL <R< GYCI< ;D I<RKFG CDHBVBG<GS HI<^RD <D EGK<DCWIK B;DKFBNBEI;I< <GK CDHIFBWIUDKFD D<EI<I<S TRD< KG <GYCDTI<IK DHEDKFDKIC= ' FCIW_< ;D DHHI< <D TDCEBYD <R VR<FG TGC HI F_EKBEI ;DH EHICG<ERCGS TCGYIXYHDUDKFD ITCDK;B;I ;D <R TI;CD Q UID<FCG Q IECDEDKFI;I FIKFG TGC <R TCGTBI DcTDXCBDKEBI EGUG TGC DH EGKGEBUBDKFG ;D GYCI< FDKDYCB<FI< D<TIdGHI< D BFIHBIKI<S TCD<DKFD<DK DH \UYBFG ICFM<FBEG ;D -GVGF\= -IHFI<IC DH eGWDKS YR<EI UDbEHIC DH CDIHB<UG YICCGEG

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fhh

Q D<TIdGHS TCGTBG ;D HI D<ERDHI <DWBHHIKIS EGK RKI UM<FBEI U\< NGCUIH ^RD TCGNRK;IS^RD ;D<ICCGHHI HG ^RD aIYMI DKFCDWB<FG <R TCGVDKBFGC Q <R IYRDHG ;DH UB<UG KGUYCDSTDCG <R TIHDFI D< U\< E\HB;I Q <R TBKEDH U\< WBVGCG<G=

2BVRDCGI ;DKGFI HI BKNHRDKEBI BK;BCDEFI ;D 9RCYIC\KS EGUG FIKFG< GFCG< TBKFGCD<IUDCBEIKG< ;D <R FBDUTGS Q D< RKG ;D HG< DTMHGVG< TCGWBKEBIHD< ;DH TBKFGC ;D HG<UGKZD<S <GYCD FG;G DK HG ^RD IFIdD I I<TDEFG< DcFDCKG< ;D BHRUBKIEBLK= #RTG <IEICTCGWDEaG ;D HG< DNDEFB<UG< ;DH EHICG<ERCG DK KRUDCG<I< GYCI< Q IH CD<TDEFG NRD RKG;D HG< TCBUDCG< DK aIEDCHG KG <LHG DK ,RDWI 7CIKI;IS <BKG DK 'U_CBEI= 3DCG KG D< DKHI F_EKBEIS <BKG DK DH I<TDEFG VDKDCIH ;D <R< TDC<GKIZD<S ;GK;D -IHFI<IC ;D 2BVRDCGI;DZI HI aRDHHI ;D <R TDERHBIC UG;G5 aIQ DK HI NIb ;D HI< URZDCD< ^RD TBKFL Q D<TDEBIHXUDKFD ;D HI< <IKFI< :CG<FCG< <DCDKG<S BUT\WB;G<S ;D NIEEBGKD< NBKI<> RKI VCIEBI D<TDXEBIH= *H EGKZRKFG ;D ZLWDKD< NBVRCI< DK HI .RDCFD ;D #IKFI 7DCFCR;B< S ;DH .R<DG ;D'CFD 0GHGKBIH ;D -GVGF\S D< YRDKI TCRDYI ;D DHHG=

A= 7&*7%&"% O4#q8*9 0*-'++%#

)RCIKFD DH <BVHG `O""S <RCVDK RKI <DCBD ;D TBKFGCD< BKFDCD<I;G< DK I<BUBHIC HI<<GHREBGKD< F_EKBEI< DRCGTDI< EGK HG< TCGYHDUI< CDKIEDKFB<FI< Q EGK HI< GCBDKFIEBGKD<;D HI 0GKFCICCDNGCUI= *K D<FD EGKFDcFG TG;DUG< ;D<FIEIC HI GYCI ;DH ECBGHHG 7CDVGCBGO\<^RDb 0DYIHHG<= *KFCD fipj Q fsff FCIK<ERCCBL <R WB;I DK #IKFI 2D ;D -GVGF\=

#D FCIFI ;D RKG ;D HG< TBKFGCD< U\< NDERK;G< ;D HI 'U_CBEI WBCCDBKIH EGK U\< ;D^RBKBDKFG< ERI;CG< ;GERUDKFI;G< Q ;B<FCBYRB;G< DKFCD DH .R<DG ;D 'CFD 0GHGKBIH ;D-GVGF\S ^RD VRIC;I EDCEI ;D fA@ FCIYIZG<l DK HI EITBHHI ;DH #IVCICBG ;D HI 0IFD;CIHlDK HI BVHD<BI ;D #IK "VKIEBGl DK DH #DUBKICBG .IQGCl Q DK EGKWDKFG< Q EGHDEEBGKD<TICFBERHICD<= 2RDCI ;D -GVGF\ DKEGKFCIUG< <R< GYCI< DK HI< BVHD<BI< ;D .GKVRM :-GXQIE\>S $DKZG Q 2RKbI :0RK;BKIUICEI> Q .D;DHHMKS 0IHBS 0ICIEI< Q 3ICM<= *<FI EGKEDKXFCIEBLK ;D HI< TBKFRCI< ;D O\<^RDb DK HI EITBFIH ;D 0GHGUYBI aI BUTD;B;G RKI UIQGC;BNR<BLK Q RK D<FR;BG EGUTICIFBWG ;D <R HIYGCS IRK^RD DK IdG< CDEBDKFD< <D aIKaDEaG UDCBFGCBG< I;DHIKFG< EGUG GERCCBL EGK HI DcTG<BEBLK ;D <R< GYCI< ^RD <D aBbGDK DH .R<DG ;D -DHHI< 'CFD< ;D #DWBHHI DK ?@@?=

)D HI< ^RD <D EGKGEDKS HI GYCI U\< IKFBVRI D<F\ NDEaI;I DK fiAs Q <D DKERDKFCIDK HI EITBHHI ;D #IKFI 0HICIS ;D $RKZI5 CDTCG;RED RKG ;D HG< FDUI< FCIFI;G< IdG<IKFD< DK RK FIYHDCG ;DH CDFIYHG UIQGC ;D #IK 2CIKEB<EG ;D -GVGF\ Q TG<BYHDUDKFD ;DDHHI D<F\ FGUI;I +I aRM;I I *VBTFG= O\<^RDb TR;G BK<TBCIC<D DK HI DcFDK<I EGHDEEBLK;D ERI;CG< ^RD TG<DMI DH EITBF\K .RCBHHGS TCBUGV_KBFG ;DH TBKFGC <DWBHHIKGS ^RD <DaIYMI FCI<HI;I;G aIEBI UD;BI;G< ;DH <BVHG `O"" I ,RDWI 7CIKI;IS ITICDEBDK;G EGUGEGCCDVB;GC ;D 8YI^RD DK fisgl IHHM ;D;BEL RK ERICFG ;D <BVHG I HG< ERB;I;G< IVCMEGHI<DK <R aIEBDK;I ;D 2IVRIS ;GK;D URCBL DK fs@@= *< URQ TG<BYHD ^RD FIUYB_K EGKGXEBDCI HG< FIYHDCG< EGK FDUI< ;BWDC<G< ;DH EGKWDKFG ;D #IK 2CIKEB<EGS HI< TBKFRCI<NHIUDKEI< ;D 7_CIC; ;D +IWIHH_D DK HI UB<UI BVHD<BI G HI< ;DH FIHHDC ;D &RYDK<=

*< FIUYB_K URQ BKFDCD<IKFD HI EGHDEEBLK ;D f@i ;BYRZG< ^RD VRIC;I DH .R<DG ;D'CFD 0GHGKBIH ;D -GVGF\S Q ^RD DCIK R<I;G< EGUG UG;DHG< ;D ;GK;D FGUIC EGUTGX<BEBGKD< EGUTHDFI< G NCIVUDKFG< ;D EIYDbI< ;D <IKFG<S UIKG<S TBD<S \KVDHD<S IKIFGXUMI<S TIdG< Q NBVRCI< DKFDCI<=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fhA

7&*7%&"% O4#q8*9 :0%+%.-"'>= ,8*#$&' #*P%&' )* +%# 4,7*+*# :#= `O"">=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fhi

7CDVGCBG O\<^RDb TRD;D EGK<B;DCIC<D RK <DVRB;GC ;D HI EGCCBDKFD <DWBHHIKI EICIEXFDCBbI;I TGC HG NIUBHBICS <BUT\FBEG Q ;RHED EGK RK KIFRCIHB<UG B;DIHBbI;G= 3BKFL D<EDXKI< DcFCIM;I< ;DH 'KFBVRG $D<FIUDKFGS EGUG HI< ;DH EGKWDKFG ;D HG< ;GUBKBEG<l TDCGDK DHHI< <D <R<FCID I HI TI<BLKS HBUBF\K;G<D I BUBFICHI Q ^RD;\K;G<D DK DH EIUTG ;D HG<ICFBNBEBG<S EGUG GERCCD DK !DHBG;GCG IbGFI;G TGC HG< \KVDHD<S DK *HMI< ICCDYIFI;G TGC RK EICCG ;D NRDVG :.R<DG ;D 'CFD 0GHGKBIH>l DK eG<RD ;DFDKBDK;G IH <GH S DK .ICFBCBG ;D #IK #DYI<FB\K :EGKWDKFG ;D #IKFG )GUBKVG> G DK eIDH I<D<BKIK;G I #M<ICI :EGHDEXEBLK .ICBG +I<DCKI>= *K *H <RDdG ;D #IK eG<_ :BVHD<BI ;D HI 0ITREaBKI>S DK 'HDVGCMI ;D HI "KUIERHI;I :#DUBKICBG .IQGC>S DK *H <RDdG ;D *HMI< :EGHDEEBLK *UBHBG 3BbIKG>SDK +I ECDIEBLK ;D *WI :EGHDEEBLK +I<DCKI> G DK +I "KUIERHI;I 0GKEDTEBLK :.R<DG;D 'CFD 0GHGKBIH>S IYRK;IK HG< TIdG< EGUTRD<FG< TCGTBG< ;D RK TBKFGC U\< BKEHBKI;GTGC DH <RIWD EHI<BEB<UG ^RD TGC DH CDFGCEBUBDKFG ;DH YICCGEG=

7CDVGCBG O\<^RDb TCDNBDCD HI KIFRCIHDbI B;DIHBbI;I Q ;D HIYGCIFGCBG ̂ RD <D EGKNDEEBGXKL DK "FIHBI ;RCIKFD DH &DKIEBUBDKFG Q ^RD NRD IEDTFI;I DK 'K;IHREMI Q DK EI<B FG;I'U_CBEI= 'H TBKFIC <R< TIB<IZD< ;D NGK;GS CDWDHI <R TG<BEBLK QS ;D TI<GS HG YBDK ;GFI;G ̂ RDD<FIYI TICI D<FD V_KDCG ^RDS <BK DUYICVGS KRKEI ERHFBWL ;D UIKDCI BK;DTDK;BDKFD=

#R< TIB<IZD< KG CD<TGK;DK IH UG;DHG IUDCBEIKGS <BKG ^RD CDTCD<DKFIK RKI KIFRCIXHDbI TGYHI;I ;D CGEI< Q \CYGHD< BKB;DKFBNBEIYHD< ^RD <D TR<BDCGK ;D UG;I DK DH KIFRXCIHB<UG NHIUDKEG Q DH B;DIHB<UG BFIHBIKG= O\b^RDb <D BKFDCD<L U\< TGC THI<UIC DHTIB<IZD DRCGTDG TBKFI;G TGC GFCG< ^RD HI KIFRCIHDbI CDIH ;D <R TIM<S RKI IEFBFR;aIYBFRIH DK UREaG< TBKFGCD< IUDCBEIKG<=

i= *+ #"7+% `O""" *, q8"$%

+G< TBKFGCD< U\< BUTGCFIKFD< ;D D<FI EDKFRCBI NRDCGK -DCKIC;G &G;CMVRDb Q .IKRDH#IUIKBDVG :fsiAXfj?h>= *<FG< ICFB<FI< <D WBDCGK BKNHRB;G< TGC HI <DCBD ;D HI< OBCFR;D< Q ;DNDEFG< ;D HG< TRDYHG< DRCGTDG< ̂ RD CDIHBbL 3IRH )DEnDC :fijAXfsh?>= +I DcFCIdI <DCBDTICDED DcTCD<IC DH D<TMCBFR BHR<FCI;G= *H EGFDZG ;D HI< KIEBGKD< FDKMI EGUG NBK ;DUG<FCIC^RD HI< ;BNDCDKEBI< DKFCD HG< <DCD< aRUIKG< CI;BEIYIK KG TCDEB<IUDKFD DK DH I<TDEFGCIEBGKIHS <BKG U\< YBDK DK <R< EG<FRUYCD<S EGUG aIYMI DcTCD<I;G 2DBZGG=

*cB<FMIKS DKFGKED<S IFB<YG< TGC FCI<HI;IC IH ICFD RK D<TMCBFR U\< EBDKFMNBEG= +I IEFRIH0GHGUYBI TICDED aIYDC ED;B;G EGK UIQGC NIEBHB;I; Q D<TGKFIKDB;I; IKFD D<FG<KRDWG< WBDKFG<= +I 'EI;DUBI EGUG FIH NRD NRK;I;I DK qRBFG DK fjhgS DKFCD FIKFGDcB<FMI HI KDED<B;I; ;D RKI UIQGC <B<FDUIFBbIEBLK Q TICI DHHG I NIHFI ;D RK EDKFCG ;DD<FR;BG<S DH UB<UG #IUIKBDVG D<ECBYBL <R $CIFI;G ;D 3BKFRCI = #IUIKBDVGS Q <RTGKDXUG< ^RD GFCG< EGHDVI< ;DH UGUDKFGS DUTDbICGK I <GHBEBFIC ^RD <D HD CDEGKGEBD<D RKIEIKFB;I; TGC DH [;B<DdG]S FIH EGUG <D ITCDEBI DK RK EGKFCIFG ;D TCBKEBTBG< ;DH <BVHG`"` TICI HI< TBKFRCI< ;D HI EIFD;CIH ;D qRBFG=

s= *+ $&'$')% )* 3",$8&' )* .',8*+ #'.',"*7%

*K DH FIHHDC R GYCI;GC ;D HG< TBKFGCD< WBCCDBKIHD< <D <DVRMIK HI< ;BCDEFBWI< ;D HG<UID<FCG< D<TIdGHD<= ' NBKD< ;DH <BVHG `O""" NRD .IKRDH #IUIKBDVG DH TBKFGC ^RD

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fhs

CDEGVBL HI< DK<DdIKbI< ;D HG< TCBKEBTIHD< UID<FCG< Q EGK<BVKL <R< DcTDCBDKEBI< TDCX<GKIHD< DK DH EBFI;G $CIFI;G ;D 3BKFRCI= #R< TCBKEBTIHD< BKNHRDKEBI< NRDCGK eRIK ;D'CND Q 2CIKEB<EG 3IEaDEGS DH +BYCG ;D 3BKFRCIS D<ECBFG DK HDKVRI NHIUDKEI TGC oICHWIK .IK;DCS 3IYHG ;D 0_<TD;D< Q eRIK ;D -CRZI<=

.',8*+ #'.',"*7% :*08')%&>= 0%&%,'0"J, )* +' O"&7*, :#= `O""">=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fhj

,G EBFI #IUIKBDVG *H .R<DG 3BEFLCBEG Q *<EIHI JTFBEI ;D 'KFGKBG 3IHGUBKG ;D 0I<XFCGS TDCG D< EI<B <DVRCG ^RD HI FRWG DK <R< UIKG<= 3IHGUBKG TRYHBEL <R FCIYIZG DK ;G<FGUG<= *H TCBUDCG BKFBFRHI;G $DLCBEI ;D HI 3BKFRCI S <IHBL I HI HRb DK fsfA= *H <DVRK;GS <DD;BFL DK fs?h EGK DH FMFRHG ;D 3C\EFBEI ;D HI 3BKFRCI = *H EITMFRHG DK ̂ RD #IUIKBDVG FCIFI ;DHG< *KBVUI< #BUYLHBEG< EGBKEB;D EGK DH ̂ RD 3IHGUBKG ;D<ECBYBL DK DH +BYCG "` ;DH $GUG ""=

*H $CIFI;G ;D 3BKFRCI ;D #IUIKBDVG KG D< RK D<FR;BG GCVIKBbI;G ;D IERDC;G EGK RKTHIK ;DNBKB;G= 0GK<FI ;D EITMFRHG< ;B<TDC<G< <GYCD HI UIFDCBIS ERQG EGKZRKFG TR;G ;BCBVBCI HG< IHRUKG<S DK DH ITCDK;BbIZD Q F_EKBEI ;DH ICFD= .REaG< KGUYCD<S ^RD ;D<BVKIK HG<BKVCD;BDKFD<

DK HI EGUTG<BEBLK ;D HG< EGHGCD<S CD<TGK;DK I UIFDCBIHD< EI<DCG<S ;BNMEBHD< ;D

B;DKFBNBEIC DK HI FDCUBKGHGVMI IEFRIH= ' TD<IC ;D FG;GS D<FD $CIFI;G ;D #IUIKBDVG D< DHCDNHDZG ;GERUDKFIH ;D HI F_EKBEI R<I;I TGC HG< TBKFGCD< ;D HI EGHGKBI=

j= *+ #"7+% `O""" *, -%7%$45 *+ 3",$%& )* +%# O"&&*1*#

*H U\cBUG CDTCD<DKFIKFD ;D D<FD UGUDKFG D< eGI^RMK 7RFB_CCDbS WDC;I;DCG CD<RUDK ;DHI TBKFRCI WBCCDBKIH KDGVCIKI;BKI= ,I;I <D <IYD EGK EDCFDbI <GYCD <R WB;IS IRK^RD D<TG<BYHD ^RD KIEBDCI DK -GVGF\ DKFCD fsfA Q fs?A= #R FCIYIZG <D ;D<ICCGHHL aI<FI TGEGIKFD< ;D HI BK;DTDK;DKEBI KIEBGKIHS DK ERQG< IHYGCD< ;DYBL ;D UGCBC= 3ICI HI BVHD<BI YGVGXFIKI ;D #IK eRIK ;D )BG< DZDERFL I TICFBC ;D fsA@ RKI IUTHBI <DCBD ;D WDBKFB<_B< ERI;CG<<GYCD HI WB;I ;DH <IKFGS ;D HG< ^RD <LHG <D EGK<DCWIK RKG< TGEG<l Q TBKFL FIUYB_K HG ^RDTGC DKFGKED< DCI IEG<FRUYCI;G DK DH TIM<5 IHDVGCMI< <GYCD IEFG< IEI;_UBEG< Q [UG<IBEG<]EGKUDUGCIFBWG< ;DH NBK ;D HG< D<FR;BG<S DKEICVG< CDEBYB;G< ;D RKBWDC<B;I;D<S EGHDVBG< QEGURKB;I;D< CDHBVBG<I<= #BK DUYICVGS HG U\< KGFIYHD ;D <R GYCI <GK HG< CDFCIFG< ;D TDC<GXKIZD< ;D HI IHFI <GEBD;I; WBCCDBKIH Q ;D VGYDCKIKFD< ;D ,RDWI 7CIKI;I ^RD aI UGFBWI;GHRDVG HI GTGCFRKI EIHBNBEIEBLK ;D [TBKFGC ;D HG< WBCCDQD<]=

#IYDUG< ;D _H ^RD <D NGCUL EGK RK <RTRD<FG ;B<EMTRHG G <DVRB;GC ;D O\<^RDb0DYIHHG<S DH UID<FCG ,BEGH\< -IK;DCI<S ERQI GYCI KG <D aI TG;B;G IkK D<FIYHDEDCS Q;D ^RBDK NRD BVRIHUDKFD ;B<EMTRHG DH YGVGFIKG -DCKIY_ ;D 3G<I;I<S INBEBGKI;G ITBKFIC ;BIYHG< Q D<TIKFIZG<S IRFGC ;D RK ERI;CG ;D #IK .BVRDH Q DH ;BIYHG l G ;DH*<TDHREG ;D HI< 'VRI< S DK DH ^RD CDTCD<DKFL DH EI<FBVG BUTRD<FG TGC <R BCCD<TDFRG<IWIKB;I; I RKI URZDC ERQI TCDEBG<I EIYDHHDCI <D FCIK<NGCUL DK RK CIEBUG ;D <DCTBDKXFD<l I D<FD UB<UG <D HD IFCBYRQDK HG< ERI;CG< ;D HI <DCBD <GYCD HI OB;I ;D #IK ,BEGH\< ;D $GHDKFBKG ^RD <D EGK<DCWI DK DH EGKWDKFG ;DH )D<BDCFG ;D HI 0IK;DHICBI Q HG<ERI;CG< ;DH 'TG<FGHI;G ;D HI BVHD<BI ;D HI $DCEDCI DK -GVGF\=

+I< DNBVBD< ;D HG< TCBUDCG< UIC^RD<D< ;D #IK eGCVDS ;D HG< WBCCDQD< #DYI<FB\K ;D *<HIWISeG<_ #GHM<S 3D;CG .D<<MI ;D HI 0DC;IS .IKRDH 7RBCBGC Q ;D GFCI< IHFI< NBVRCI< ;BDEBGEaD<EI<SaGQ DK HG< UR<DG< ;D 'CFD 0GHGKBIH Q ,IEBGKIH Q DK IHVRKI< EGHDEEBGKD< TICFBERHICD<SNGCUIK RKG ;D HG< EGKZRKFG< U\< TDC<GKIHD< Q ;DNBKB;G< ;D HI aB<FGCBI ;D HI TBKFRCI DK DHTIM<l EGKZRKFG URQ ;B<FIKFDS TGC EBDCFGS ;DH ̂ RD CDTCD<DKFI I HG< TBKFGCD< IKFDCBGCD<S TDCGIKFDED;DKFD ;D IHVRKG< TG<FDCBGCD<= ' FCIW_< ;D _H <D TDCEBYD IH TBKFGC ;DEGCIFBWB<FIS <DEGSTCBUBFBWG Q EH\<BEG I HI WDbS UBKREBG<M<BUG Q EGK UDKFIHB;I; ;D NGFLVCING=

+G< CDFCIFI;G< TGC 7RFB_CCDb KG< GNCDEDK RK TGCFD D<FDCDGFBTI;G Q NCMGS NBDHD< I HI<GHDUKB;I; DcBVB;I TGC DH CDFCIFB<UG ;D EGCFD Q ;D IHFI <GEBD;I;= 'H EGUTGKDC HI GYCIS DHIRFGC TCDFDK;D <DC EHICGS TRD< KG DK WIKG EGKGEDS IRK^RD ;D GM;I<S HI< KGCUI< ;D HI



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fhg

e%'q86, 78$"/&&*9 :0%+%.-"'>= O"&&*1 .',8*+ )* 78"&"%& :#= `O""">=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fA@

'EI;DUBIl TDCG IH UB<UG FBDUTG <D GYHBVI I HHDKIC DH ERI;CG ;D DHDUDKFG< BHR<FCIFBWG< QIHDVLCBEG<5 EGCFBKIZD<S HI< EGHRUKI< EH\<BEI<S HG< UICEG< YICCGEG< Q DH UGYBHBICBG TIHIEBDVG^RD BUTR<BDCI HI EGCFD ;D ODC<IHHD<S IVCRTIYI RK EGKZRKFG ;D GYZDFG< UIKDZIYHD< TGC DHICFB<FIS ̂ RD YBDK TG;MI EGUTGKDC EGK DH TCBUGC;BIH GYZDFBWG ;D HG D<F_FBEG=

*KFCD HG< ;B<EMTRHG< ;D eGI^RMK 7RFB_CCDb ;DYDUG< ;D<FIEIC I 3IYHG 'KFGKBG 7ICEMI ;DH0IUTGSSSSS TBKFGC ;D E\UICI ;DH WBCCDQ 'KFGKBG 0IYIHHDCG Q 7LKVGCI ^RD HHDVIYI DK fssgSTCGED;DKFD ;D 1REIF\KS TICI GERTIC HI <D;D DTB<EGTIH ;D #IKFI 2DS EICVG IH ̂ RD aIYMI ;DIVCDVIC DK fsj? DH ;D VGYDCKI;GC VDKDCIH EGK DH ;GYHD FMFRHG ;D ICbGYB<TG Q WBCCDQ=

7ICEMI ;DH 0IUTG CD<RHFL <DC RK ;BYRZIKFD URQ aIYBHB;G<GS EGUG HG TCRDYI RKBKNGCUD ^RD <GYCD <R HIYGC DUBFBL eG<_ 0DHD<FBKG .RFB< DK fsjpS IdG DK ^RD DH TBKFGCaRYG ;D IYIK;GKICHG TGC CIbGKD< ;D <IHR;S ;D<TR_< ;D aIYDC TDCUIKDEB;G ;RCIKFD<DB< IdG< YIZG HI< LC;DKD< ;DH <IYBG YGF\KBEG= &DIKR;IK;G HRDVG <R FICDI EGUGTBKFGC ;D BU\VDKD< Q CDFCIFG<S <BVRBL DK -GVGF\ aI<FI <R URDCFDS GERCCB;I DK fjfh=

g= &*,%O'0"J, )* +' 3",$8&' ,*%7&',')",'

*H D<TMCBFR ;D HI "HR<FCIEBLK ;DYBL aIYDC IKBUI;G Q IQR;I;G I ̂ RD <D CDIHBbICI I NBKD<;DH <BVHG `O""" RKG ;D HG< TCGQDEFG< EBDKFMNBEGXICFM<FBEG< ;D UIQGC DKWDCVI;RCI DK HICDVBLK= ';DU\<S KG ;DYDUG< GHWB;IC ̂ RD ;DKFCG ;D HI KRDWI TGHMFBEI YGCYLKBEIS RK BUTGCXFIKFD CDKVHLK <D EDKFCL DK CDIHBbIC RK BKWDKFICBG ;D "K;BI< TICI IKIHBbIC DH ITCGWDEaIUBDKXFG ;D HG< DcED;DKFD<= 'EGC;D EGK D<FI HMKDIS DK fsjp Q YIZG HI ;BCDEEBLK ;DH EBDKFMNBEGD<TIdGH eG<_ 0DHD<FBKG .RFB< :fsp?Xfj@j>S U_;BEG ;DH WBCCDQ 3D;CG .D<<BI ;D HI 0DC;I DBHR<FCD YGF\KBEGS <D D<FIYHDEBL HI &DIH *cTD;BEBLK -GF\KBEI DK ,RDWI 7CIKI;I=

.RFB< ;BG BKBEBG I HI ;DKGUBKI;I 2HGCI ;D -GVGF\ S ;D<;D .ICB^RBFI aI<FI DH <RC ;D-GVGF\l IdG< U\< FIC;D <D D<FIYHDEBL DK D<FI EBR;I; Q FCIYIZL IHCD;D;GC ;D FCDBKFIIdG< DK HI DZDEREBLK ;D U\< ;D <DB< UBH H\UBKI< ;D HG< U\< WICBI;G< D<TDEMUDKD<= +IEGHDEEBLK <D DKERDKFCI DK HI IEFRIHB;I; DK DH &DIH eIC;MK -GF\KBEG ;D .I;CB;=

';DU\< ;D HI VCIK EIKFB;I; ;D BKNGCUIEBLK EBDKFMNBEI ̂ RD KG< TCGWDD D<FI EGHDEEBLKSD<FD TCGQDEFG EGKFCBYRQL DKGCUDUDKFD IH ;D<ICCGHHG ;D HI BHR<FCIEBLK EBDKFMNBEI DK HI CDXVBLKS I HI BKEGCTGCIEBLK <B<FDU\FBEI ;D HI NHGCI Q HI NIRKI HGEIHD< DK HI< GYCI< ;D ICFDS EGUGIKFBEBTG IH ;D<ICCGHHG ;DH TIB<IZB<UG ;DEBUGKLKBEGS <GYCD FG;G DK TBKFRCIS Q IH BKBEBG ;D HIUBKBIFRCI ^RD FIKFG _cBFG FRWG DK FG;G DH WBCCDBKIFG aI<FI YBDK DKFCI;G DH <BVHG `"`=';BEBGKIHUDKFDS .RFB< HGVCL ZRKFIC I TBKFGCD< ;D 3GTIQ\K Q qRBFG EGK I^RDHHG< CI;BEI;G<IHCD;D;GC ;D #IKFIN_ ;D -GVGF\= *H D^RBTG ;D ICFB<FI< HGVCL RK NRDCFD DKFCDKIUBDKFG DKYGF\KBEI Q DK HI F_EKBEI ;D HI IERICDHI ̂ RD <DCWBCMI TICI BHR<FCIC DH FCIYIZG= #R DKFCDKIUBDKXFG <D I<DUDZL U\< IH ;D HI< D<ERDHI< DRCGTDI< ^RD IH FCIYIZG ;D FIHHDC ICFD<IKIH= )G<TBKFGCD< WBKERHI;GS ;D .GUTGcS Q 3IYHG 'KFGKBG7ICEMI ;DH 0IUTGS <IKFINDCDdGS IYCBDCGK HI TCBUDCI 'EI;DUBI ;D 'CFD DK -GVGF\ DK fsgf=0GUG UREaG< ;D HG< TBKFGCD< BKFDVCIKFD<S D<FG< DCIK YRDKG< CDFCIFB<FI<S RK V_KDCG ^RDDUTDbIYI I <DC URQ ITCDEBI;GS <GYCD FG;G DK -GVGF\S Q ^RD <DCMI DH U\< BUTGCFIKFD<R<FDKFG ;D HG< TBKFGCD< ;DEBUGKLKBEG<=

*H FCIYIZG ;D .RFB< Q ;D <R D^RBTG NRD EDHDYCI;G TGC !RUYGHF :fsigXfjAg>S ^RBDKDK fj@fS WB<BFL DH TCGQDEFG DK -GVGF\ Q CDHIFL <R< BUTCD<BGKD< DK <R )BICBG ;D OBIZD S;GK;D <D CD<IHFIYI HI CB^RDbI ;D <R YBYHBGFDEI=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fAf

3'-+% ',$%,"% 7'&06' )*+ 0'.3%= e%#/ 0*+*#$",% .8$"# :fj@f>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fA?

#*+*00"J, )* ".47*,*#

',)&/# #4,0!*9 7'++q8*= +%# 0".'&&%,*# )* *#.*&'+)'# :fAgg>= .8#*% )* './&"0'S .')&")

*< RKG ;D HG< TCBUDCG< CDFCIFG< ^RD <D CDIHBbIK DK 'U_CBEI DK DH ^RD <D EGKUDUGXCI DH IERDC;G DKFCD DH ZDND EBUICCLK 2CIKEB<EG ;D 'CGYD Q <R< ;G< aBZG< EGK HI UGKICX

^RMI aB<TIKI= +I TBKFRCI NRD RK DKEICVG CDIHBbI;G DK fAgg TGC DH %B;GC ;D HI 'R;BDKEBI;D qRBFG eRIK -ICCBG< ;D #DTkHWD;I IH TBKFGC BK;MVDKI 'K;C_< #\KEaDb 7IHH^RDSNGCUI;G DK HI D<ERDHI ^RD BKBEBICI 2CIQ eG;GEG &BEnD DK DH EGKWDKFG NCIKEB<EIKG ;DqRBFG= *H ;D<FBKG ;D HI UB<UI DCI RK CDVIHG TICI 2DHBTD """ ^RD <D DcTR<G DK HI EGCFDUI;CBHDdI EGUG DZDUTHG ;DH _cBFG ;D TIEFG Q CDEGKGEBUBDKFG ;D HG< EIEB^RD< BK;MVDXKI<=

*H TCGYHDUI ;D UD<FBbIZD ^RD <D GY<DCWI DK HI GYCI ;DCBWI ;D <R BK_;BFG GCBVDK= 8KVCRTG ;D D<EHIWG< INCBEIKG< aRB;G< ;D RK YICEG EGK<BVRBDCGK HHDVIC I HI CDVBLK ;D*<UDCIH;I< ;GK;D EI<ICGK EGK HI< KIFRCIHD< Q ECDICGK RKI KRDWD _HBFD EIEB^RBH ^RD <DDKNCDKFL I HG< D<TIdGHD< aI<FI NBKD< ;DH <BVHG `O"= *H TIEFG NBCUI;G EGK D<FG< EIEBX

^RD< KDVCG<XURHIFG< HD< EGKED;MI CDEGKGEBUBDKFG ;D IRFGCB;I; Q TCBWBHDVBG< EGUG HIDcDKEBLK ;D FCBYRFG< Q FCIYIZG< NGCbI;G<=*H ERI;CG CDTCD<DKFI <R DKFCI;I DK qRBFG DK fAgg= )D<FIEI <R NB<GKGUMI KDVCI

INCBEIKIS FDcFBHD< Q VGCVRDCI< D<TIdGHD< Q GCKIUDKFG< ;D GCG Q ICUI< TCGTBG< ;D HG<BK;BG< DERIFGCBIKG<= #R TG<BEBLKS ;D<ERYCB_K;G<D EGK DH <GUYCDCG DK HI UIKGS B;DKFBXNBEI DH UGUDKFG ;D <R <RTRD<FI TCD<DKFIEBLK IKFD DH UGKICEI= #MKFD<B< ERHFRCIH QTHI<UIEBLK ICFM<FBEI I FCIW_< ;D RK TBKFGC BK;MVDKI I;ITFI;G I HG< UG;G< ;D CDTCD<DKXFIEBLK DRCGTDG<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fAh

*H GCBVBKIH D< GYCI ;DH TBKFGC Q THIFDCG 'HGK<G ;D ,ICW\DbS KIFRCIH ;D 'HEIH\ ;D7RI;IBCI :#DWBHHI>S ^RD D<FIYI INBKEI;G DK $RKZI I UD;BI;G< ;DH <BVHG Ò"= *K fAAADH DKEGUDK;DCG ;DH TRDYHG ;D #RFI HD DKEICVI RKI GYCIS TGC HI ^RD <D HD TIVIC\ ?@TD<G<S DK HI ^RD <D CDTCD<DKFI I HI OBCVDK ;DH &G<ICBG= )I;G ^RD HI< UD;B;I< ;DH TIdG;D IHVG;LK ^RD IEFRIYI EGUG <GTGCFD DCIK <RTDCBGCD< I HI BUIVDK TBKFI;IS <D ;DEB;BLIEGUTIdIC I D<FIS I IUYG< HI;G<S EGK HI< CDTCD<DKFIEBGKD< ;D #IK 'KFGKBG ;D 3I;RIS<IKFG ;D ^RBDK EG<FDIYI HI TBKFRCIS Q ;D #IK 'K;C_<S CDNDCB;G IH aDCUIKG 2CIQ 'K;C_<^RD FDKMI HI FBFRHICB;I; ;D HI TICCG^RBIH ;DH HRVIC= )DFDCBGCI;I HI GYCI C\TB;IUDKFD<DCMI IYIK;GKI;I Q CDERTDCI;I TGC RKI ;DWGFI DK fAji=

'aGCI EGUBDKbI <R IK;IC UBHIVCG<GS TCBUDCG EGK HI IRFGCD<FIRCIEBLK Q TG<FDCBGCXUDKFD EGK RKI VCIK TCGQDEEBLK <GEBIH ^RD HHDWICMI I ECDIC HI YI<MHBEI ;D 0aB^RBK^RBC\:EGK THIKG< ;D 2CIQ )GUBKVG 3DFC_< DK DH <BVHG Ò""">= +I ;DWGEBLK IRUDKFI Q HIBEGKGVCINMI ;D HI OBCVDKS IaGCI ;D 0aB^RBK^RBC\S <D DcFBDK;D DK EGTBI< Q VCIYI;G<TGC FG;G DH WBCCDBKIFG=

7'#3'& )* 2"78*&%'= #', .'&$6, )* $%8&# :fihs>

*K D<FI IUTHBI FDHIS DH TBKFGC DHBVD HI D<EDKI TCD;BHDEFI ;D HG< ICFB<FI< <GYCD HI WB;I;DH <IKFG UBHBFIC ;DH <BVHG "O5 I^RDHHI DK ^RDS I EIYIHHGS CGUTD <R EITI TICI EGUTICFBCXHI EGK RK UDK;BVG= +G U\< TCGYIYHD D< ^RD 2BVRDCGI HI FGUICI ;D RK VCIYI;GBK<TBCI;G DK DH EGKGEB;G ERI;CG ;D OIK )BEnS NRDKFD ;D GFCG< TBKFGCD< ;DH <BVHG Ò""^RD FCIFICGK DH UB<UG I<RKFGS G ;D ERUTHBC DKEICVG< ;D NBDHD< ;DH GYB<TG ;D $GRC<= *KDH EI<G ;DH ERI;CG <IKFINDCDdGS DH EGUBFDKFD NRD DH HBEDKEBI;G eG<_ ;D HI -ICCDCISIYGVI;G ;D HI &DIH 'R;BDKEBI=

*<FD HBDKbG <D IFCBYRQL ;RCIKFD IHVkK FBDUTG I <R aBZG -IHFI<ICS HG UB<UG ^RD<RED;BL EGK TICFD ;D <R TCG;REEBLK= ,G ;DYD ;D<EICFIC<D HI EGHIYGCIEBLK ;D <R aBZGDK UREaI< ;D <R< GYCI<S EG<I EGCCBDKFD DK DH FCIYIZG ;D FIHHDC Q U\< FCIF\K;G<D ;DNIUBHBICD< ^RD WBWBDCGK ZRKFG< Q <BVRBDCGK HI< UB<UI< FDK;DKEBI<= "KEHR<GS I HI URDCFD;D 7I<TICS DcB<FDK ;GERUDKFG< ^RD IFD<FBVRIK HI FDCUBKIEBLK ;D ERI;CG< TGC -IHFIX<IC ^RD ^RD;ICGK BKEGKEHR<G<= 7I<TIC ;D 2BVRDCGI URCBL DH f? ;D ;BEBDUYCD ;D fiAj=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fAA

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fAi

7&*7%&"% O4#q8*9 0*-'++%#= ",O*#$")8&' )* #', ")*+2%,#% :fish>

+I NGCUIEBLK ;D O\<^RDb NRD HDKFI Q EGK<FIKFDS U\< TCG;REFG ;D HI BK<B<FDKEBI Q;D HI WGEIEBLK ^RD ;DH VDKBGS Q D<FRWG <BK ;R;I DcDKFI ;D VCIK;D< BK^RBDFR;D<S TDCGTCD<B;B;I TGC RKI TDCUIKDKFD HIYGCBG<B;I; Q RK FIHDKFG <RTDCBGC IH ;D HG< ;DU\<TBKFGCD< ;D <R FBDUTG= 2GCUI;G DK DH FIHHDC ;D -IHFI<IC ;D 2BVRDCGIS <R D<NRDCbG Q <REGK<FIKEBI HD VICIKFBbICGK RK ITCDK;BbIZD C\TB;GS EGK ;GUBKBG DK HG< <DECDFG< ;DH;BYRZG Q ;D HI TDC<TDEFBWI= *K TGEG FBDUTG HGVCL <RTDCIC I <R UID<FCG 2BVRDCGIS^RBDK ;DEB;BL ^RD DCI DH UGUDKFG ;D CDFBCICHG ;D <R GYCI;GC=

#R< GYCI< GYD;DEBDCGK I HI< NGCUI< Q F_EKBEI< IEDTFI;I< TGC HI "VHD<BIS TRD< KG aIQ ̂ RDGHWB;IC ^RD TICI HI _TGEI DH ICFD D<FIYI IH <DCWBEBG ;D HI DWIKVDHBbIEBLK= +G< FDUI< <DCDTBFBDCGK RKI Q GFCI WDb TGC DKEICVG< ^RD HD aIEMIK HG< EGKWDKFG<l TBKFL WICBI< WDED< I

HG< UB<UG< <IKFG< NRK;I;GCD< ;D HI< LC;DKD< ;D HG< ;GUBKBEG<S HG< NCIKEB<EIKG<S HG< IVR<XFBKG< Q HG< ZD<RBFI<S CDTCD<DKFI;G< DK ;BNDCDKFD< UGUDKFG< ;D <R WB;I=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fAs

*K D<FI GYCIS ;DH .R<DG ;D 'CFD 0GHGKBIH ;D -GVGF\S O\<^RDb 0DYIHHG< CDEGVD DHUGUDKFG DK ^RD #IK ";DHNGK<G CDEBYD HI EI<RHHI ;D UIKG< ;D HI OBCVDKS UBDKFCI< RKVCRTG ;D \KVDHD< GY<DCWI HI D<EDKI= *<FI GYCI KG< <BCWD TICI I;UBCIC <R VCIK EITIEBX;I; EGUG ;BYRZIKFD TRD< HGVCL RKI <LHB;I NBCUDbI ;D FCIbG <BK CDERCCBC I HI RFBHBbIEBLK;D UD;BI< FBKFI< KB ;D <GUYCI<=

e%'q86, 78$"/&&*9= &*$&'$% )*+ O"&&*1 e%#/ #%+6# 2%+0! )* 0'&)%,' :#= `O""">

*H WBCCDQ <D TCD<DKFI EGK <R IFBH;I;G EI<IELKS <R TDHREI DUTGHWI;I Q <R HRKICXEBHHG ;D UG;I EGUG RK NBKG VIH\K I ^RBDK 7RFB_CCDb TDCEBYD UBFI; BEGKG Q UBFI;aGUYCD ;D URK;G= #GYCD HI EGK<GHI NCIKED<IS EGK TDC<TDEFBWI NGCbI;I TICI TG;DCDcaBYBC YBDK HI< TDCFDKDKEBI<S URD<FCI HG< VRIKFD< Q DH FCBEGCKBGS EGUTHDUDKFG BK;B<XTDK<IYHD ^RD UIKBNBD<FI DH CIKVG ;DH TDC<GKIZD= +I UIKG <GYCD HI EI;DCIS EGK HG<;D;G< ;B<TRD<FG< DK UGHBKDFDS URD<FCI <BK CD<DCWI< HI VCIEBI ;D HI [TG<D] Q DH<BUYLHBEG IKBHHG=

*K D<FG< ERI;CG< <D ITCDEBI HI NBKRCI ;D <R FCIbGS <R TCDEB<BLK ;D HMKDIS DH EGKGXEBUBDKFG IKIFLUBEG Q DH ERB;I;G<G IEIYI;G ;D EI;I ;DFIHHDS <BK ^RD D<FD INDEFD <R<GYCBD;I;= *K D<FG< CDFCIFG<S 7RFB_CCDb aBbG ITCGcBUI;IUDKFD HG ^RD HG< TBKFGCD<TGTRHICD< aIEMIK IH DHIYGCIC BU\VDKD< <IVCI;I<5 ;DEGCIC HI NBVRCI EGK DH BUTCD<BGXKIKFD TCD<FBVBG ;DH GCG G HI VCIEBI CGEGEL ;D HI NHGC= +G< NGHHIZD< ;DH WD<FRICBGS HI<IHaIZI< Q GFCG< ;DFIHHD< <D EGK<FBFRQDK I UDKR;G DK HG< WDC;I;DCG< TCGFIVGKB<FI<;DH ERI;CG=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fAj

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fAg

f= O'&7'#S eG<_ .ICMI= .IKRDH #IUIKBDVG Q <R $CIFI;G ;D 3BKFRCI = qRBFGS 3GKFBNBEBI 8KBXWDC<B;I; 0IFLHBEIS fgsAS 3\V<= sXff=

'3/,)"0* )%08.*,$'+

"= *+ $&'$')% )* 3",$8&' )* .',8*+ #'.',"*7%f

*K DH FIHHDC R GYCI;GC ;D KRD<FCG< TBKFGCD< EGHGKBIHD< <D <DVRMIK HI< ;BCDEFBWI< ;DHG< UID<FCG< D<TIdGHD<= ' NBKD< ;DH <BVHG `O""" NRD .IKRDH #IUIKBDVG DH TBKFGC ^RDCDEGVBL HI< DK<DdIKbI< ;D HG< TCBKEBTIHD< UID<FCG< Q EGK<BVKL <R< DcTDCBDKEBI< TDCX<GKIHD< DK <R $CIFI;G ;D 3BKFRCI=

eRIK ;D 'CND Q 2CIKEB<EG 3IEaDEG NRDCGK HI< NRDKFD< TCDNDCB;I< ;D EGK<RHFI Q IkK;D FCIK<ECBTEBLK HBFDCIH= *K DH HBYCG ;D OICBI 0GKUD<RCIEBLK DKEGKFCL #IUIKBDVG HI<CDVHI< ;D ;BYRZG DK <BUDFCMI Q IKIFGUMI ;D HG< Uk<ERHG< Q aRD<G< ;DH ERDCTG aRUIKG=)D<TR_< ;D EGK<BVKIC DK DH TCBUDC EITMFRHG [HI< UD;B;I< Q EGUTI<D< ;DH ERDCTGaRUIKG]S ;D;BEL DH <DVRK;G I ;DFIHHIC HG< [;BDb CG<FCG< ^RD FBDKD DH aGUYCD U\<VIHHIC;G]S ;D<EDK;BDK;G I UD;B;I< ;D FG;I< HI< TICFD< ;DH ERDCTG= *H EITMFRHG FDCEDCG[FCIFI ;D HI <DVRK;I TICFD ;DH ;BYRZG G <BUDFCMI]= 0GKEHRQD D<FD TCBUDC HBYCG EGK D<FDEGHGNLK5 [2BK ;D HI< UD;B;I< ^RD TGKD D<FD IRFGCS ^RBDK D< 2CIKEB<EG 3IEaDEGS ;DaGUYCD< DUBKDKFD<S ^RD aI aIYB;G DK D<FI NIERHFI; Q <R ICFD]=

' EGKFBKRIEBLK <DHDEEBGKI #IUIKBDVG RKI <DCBD ;D TCDEDTFG< VDKDCIHD<S ^RD INBCXUI aIYDC FGUI;G ;DH +BYCG ;D 3BKFRCIS D<ECBFG DK HDKVRI NHIUDKEI TGC 0ICHG< -DcDXUIK;D<S KIFRCIH ;D HI EBR;I; ;D !I;DU DK !GHIK;I= +G< TCDEDTFG< WIK ;BWDC<IUDKFDKRUDCI;G< Q EGKFBDKDK GY<DCWIEBGKD< TC\EFBEI< IEDCEI ;D HI TG<BEBLK ;DH ERDCTGaRUIKG ;D IERDC;G EGK <R< <DKFBUBDKFG Q ;DH TRD<FG ^RD GERTI DK HI EGUTG<BEBLK;DH ERI;CG=

)D 3IYHG ;D 0_<TD;D< ITCGWDEaI TICI <DdIHIC HI< TCGTGCEBGKD< DK HI TBKFRCI ;DHG< IKBUIHD< U\< EGKGEB;G<S EGUG DH HDLKS DH FGCGS DH EIYIHHG Q FIUYB_K DH \VRBHI=

0BFI ;D TI<G I eRIK ;D -CRZI<S BKWDKFGC ;D HI TBKFRCI IH LHDG=3ICI NIEBHBFIC DH EGKGEBUBDKFG Q UIKDZG ;D HG< UIFDCBIHD<S CD;RZG I WDC<G HI KIFRCIX

HDbI Q R<G ;D EI;I RKG ;D DHHG<= *K D<FCGNI< <RED<BWI< ;D<ECBYD Q WIHGCI DH TBKEDHS HIYCGEaIS DH FBDKFGS DH I<FI ;DH TBKEDHS HI TIHDFIS DH EIYIHHDFDS HI CDVHIS DH EGUT\<S HID<ERI;CIS HI D<T\FRHI Q HI EGKEaI ;D EGK<DCWIC HG< EGHGCD<=

+I TICFD TDC<GKIH ;D #IUIKBDVG Q HI U\< BKFDCD<IKFD TICI EGKGEDC RK GYCI;GC ;DHI 0GHGKBIS D< HI ^RD EGK<IVCI I HG< ;DFIHHD< ;DH TCGED<G NGCUIFBWG ;D HG< IHRUKG<= #DHD< DK<DdI HG< UG;G< ;D ERCIC Q TRCBNBEIC DH IdGH Q DH IEDBFDl DH U_FG;G ;D GYFDKDCIHYIQIH;DS EICUMK Q WDCUDHHLKl HI UIKDCI ;D aIEDC FBKFI EaBKI=

0GK<BVKI HRDVG RK EGTBG<G CDEDFICBG TICI DKEICKD< Q TBKFRCI< ;D <IKFG<S ;D HINBVRCI aRUIKI DK ;BNDCDKFD< D;I;D<S ;D WD<FB;G< DK WICBD;I; ;D FDHI<S ;D KRYD<S ;DEDHIZD<S <DdIHIK;G TICI EI;I EI<G HI UDbEHI ;D EGHGCD<= :===>

#IUIKBDVG R<I HI TIHIYCI DKEICKD TICI ;D<BVKIC DH R<G ;D EGHGCD< DK FG;G< HG<DHDUDKG< Q TICFD< ;D HI EGUTG<BEBLK ;D RK ERI;CG= *H DKEICKD EGKFDUTHI HI TBKFRCI;DH CG<FCG EGK HI WICBD;I; ;D EGUTGKDKFD<5 EIYDHHG<S GZG<S KICBbS YGEIS UDZBHHI<S HI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fi@

NB<GKGUMI VDKDCIHS ^RD WICMI ;D IERDC;G EGK DH <DcGS EGK;BEBLK <GEBIH Q ;BWDC<B;I; ;D<DKFBUBDKFG<= 0GK<B;DCIS I;DU\<S HG< WD<FB;G< EGK <R< TCDK;I< TDERHBICD<S <DVkK HIEGK;BEBLK ;D HG< TDC<GKIZD<= 0GK DH KGUYCD ;D EDHIZD< <DdIHIS TGC NBKS DH NGK;G ^RDIUYBDKFI HI EGUTG<BEBLK Q ;D<FIEI DH TCGFIVGKB<FI G TDC<GKIZD< ^RD BKFDVCIK DH VCRXTG=

8K IK\HB<B< TCGHBZG ;D HG< DKEICKD< EBFI;G< DK DH [$CIFI;G ;D TBKFRCI] EGUTCDK;DSh? TICI HI NBVRCI aRUIKIS fj TICI CGTIZD< Q WD<FB;G< Q GEaG TICI HG< EDHIZD<= *KERIKFG I HG< EGHGCD<S TICI DH TCBUDC VCRTG <D <DdIHIK TCGTGCEBGKIHUDKFD5 <GYCI TIC;I:A@ WDED<>S IUICBHHG :h@>S GECD ^RDUI;G :p?>S TCBDFG :p?>S IHUIECD :p?>S DKEGCEI :?s>SEICUMK :?h>S CG<I;G :?p>S WDCUDHHLK :??>S IbRH :??>S WDC;D FDCCID :fg>S IHYIQIH;D CG<I;G:f?>= *K HI <GUYCI TIC;IS WDC;D Q CG<I;G <DdIHI IHVRKG< UIFBED< ^RD <D GYFBDKDK EGKEGHGCD< EGUYBKI;G<=

3ICI HI< CGTI< Q TIdG< ;B<UBKRQD DH KkUDCG ;D EGHGCD< DK CDHIEBLK EGK DH DKEICKD;D HI NBVRCI aRUIKI= #D DKRUDCIK DH EICUMK EGK <R< UIFBED< :?@ WDED<>S DKEGCEI :f@>SGECD EGK WICBIKFD< :j>S TCBDFG :j>S YHIKEG :A>S WDCUDHHLK :A>S IUICBHHG :A>S IHUIECD :h> QIbRH EGK <R< UIFBED< ;D TRCGS ;D TCR<BIS EHICG Q EDHD<FD= *K DH IE\TBFD ;D CGTI< ;D;BEIRK T\CCING IH FDCEBGTDHG= :===>

)D<TR_< ;D ;D<ECBYBC HI TCDTICIEBLK Q R<G ;D HG< EGHGCD<S BK;BEI #IUIKBDVG DHUG;G ;D GCVIKBbIC HI EGUTG<BEBLK Q ;ICHD EGHGCB;G= *<ECBYD IH CD<TDEFG5 [#B ^RBDCD<TBKFICS YBDKS aI< ;D TDCNBHIC DH ;BYRZGS UDFDC DH DKEICKD YBDK TICDZGS KG DK TICFD EICVIX;G Q DK TICFD< NHIEGl DK<GHWDC Q UDFDC HI UD;BI FBKFI EGK HI I;WDCFDKEBI QI ;BEaI ;DHDKEICKD TICDZGS RKBDK;G EGK DH DKEICKD <BK ;DZIC <DdIH ;DFDCUBKI;IS ;DZIK;G EGKHREBUBDKFG DH CD<FG ;D HI UD;BI FBKFIS Q I<M <D WI VCI;RIK;G HI< FBKFI<= )D<TR_< ;D YBDKEGHGEI;I< HI< UD;BI< FBKFI<S DKFDCI< Q DKEICKD<S <D DK<RDHWD TCGERCIK;G KG <IHBC ;DH;BYRZGS IKFD< <B aRYBDCD NIHFI;G G TI<I;G DKUDK;IC EGK HI DK<GHYD;GCIS Q ;D<TR_<EGUG ^RBDK KG ^RBDCD HI EG<I BC YR<EIK;G <GUYCI< Q IHFG< TCGERCIK;G UI<B<ICS KGTDC;BDK;G DH YCBG ;D HI <RIWB;I; <BKG DK HG< UD;BG<S G ;BV\UG<HG I<MS DK HG U\< EHICG;DH DKEICKDS aGK;DIK;G HI <GUYCI <BK ;DZIC CIQI KBVRKI= *K FG;G EI<GS IRK^RD DKCG<FCG< KG <DIS DK D;BNBEBG<S EDHIZD<S TDC<TDEFBWI<S D<FIFRI<S CGTI<S FDCCRdG<S G <DI DK HG^RD NRDCDS <D ;DYD <GUYCDICS UDFDC UD;BI< FBKFI<S RKBC Q DK<GHWDC= )D<TR_< ;D aDEaI<D<FI< ;BHBVDKEBI<S <D WI VGHTDIK;G HG< EHICG< Q aGK;DIK;G HG< G<ERCG<S <BK TDC;DC DHHREBUBDKFG ;D HI< UD;BI< FBKFI<S ;D <RDCFD ^RD DK EI;I EG<I <D URD<FCD HI VCIEBI Q<RFBHDbI ;DH ICFMNBED]=

""= '&$* 3'&' +' #'+O'0"J,?

+I TBKFRCI URCIH HHDVL I EGKWDCFBC<D DK RKI ;D HI< UIKBND<FIEBGKD< ECB<FBIKI< U\<;D<ICCGHHI;I< DK HI 0GHGKBI= )DEDKI< ;D BVHD<BI< Q EGK<FCREEBGKD< NRDCGK DKVIHIKIX;I< EGK NCB<G<S VCRFD<EG< Q RKI DcFDK<I BEGKGVCINMI <IVCI;I= +I TCGTIVIEBLK ;DUGFBWG< I HG HICVG ;DH DKFGKED< WBCCDBKIFG TDCRIKG <BCWBL TICI aGUGVDKDBbIC DH ;D<IX

?= O'++6,S &G;GHNG= "U\VDKD< -IZG 0IH Q TIdDFD= 3BKFRCI URCIH ;D HI EGHGKBI DK 0GHGUYBI =#IKFIN_ ;D -GVGF\S *H <DHHG D;BFGCBIHS fggjS 3\V<= psXh@=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fif

CCGHHG TBEFLCBEG DK HI CDVBLK IK;BKIS TRD< IYICEL FDUI< <BUBHICD< DK HRVICD< URQHDZIKG<S Q I<DVRCL HI TDC<B<FDKEBI ;D F_EKBEI< Q WIHGCD< I FCIW_< ;DH FBDUTG=

+I DKGCUD EIKFB;I; ;D ;DEGCIEBGKD< ;D VCIK EIHB;I; DKEGKFCI;I< DK 'U_CBEISDWB;DKEBIK ELUG D<I< GYCI<S BKFDVCI;I< IH DKFGCKG IC^RBFDEFLKBEGS CDTCD<DKFIK DHBKFDC_< ;D HG< D<TIdGHD< TGC BUTGKDC <R ERHFRCI Q D<TDEBIHUDKFD <R CDHBVBLKS TDCGUIKBNBD<FIK IH UB<UG FBDUTG RKI EGKFBKRB;I; ;DH URK;G TCDaB<T\KBEG= )DYB;G I ^RDHG< KIFBWG< aIYMIK ;D<ICCGHHI;G IUTHBIUDKFD HI TBKFRCI URCIHS QI <DKFMIK RK <BKEDCGVR<FG TGC D<FD FBTG ;D GCKIFG<S HG ERIH ECDL RK FDCCDKG IYGKI;G TICI DH ITGVDG ;DD<FI DcTCD<BLK D<F_FBEI=

'<MS HI< CDTCD<DKFIEBGKD< NRDCGK ERYCBDK;G HG< U\< BUTGCFIKFD< D<TIEBG<S EGUG HI<EITBHHI< IYBDCFI<S HI< KIWD< ;D HI< BVHD<BI< G HG< EHIR<FCG<= +G< CDFIYHG< ;D HG< URCG<FD<FDCG< Q HG< ICEG< FGCIHD<S HG< EGCG< IHFG< Q YIZG<S HI< ZIUYI< D BKFCI;L< ;D TRDCFI< QWDKFIKI<S IH BVRIH ^RD HG< EGCCD;GCD< Q URCG<S DCIK TBKFI;G< EGK BU\VDKD< Q I;GCKG<S^RD VDKDCIYIK RKI KGWD;G<I EGUTG<BEBLK GCKIUDKFIH=

8KI EBCERK<FIKEBI <BUBHIC <D WDCBNBEI DK HI IC^RBFDEFRCI ;GU_<FBEI= *K fgAiS DH E_HDYCDaB<FGCBI;GC .ICFMK #GCBI EIHBNBEL HI 0I<I ;D eRIK ;D OICVI<S ;D $RKZIS EGUG GYCI kKBEI DK'U_CBEIS I ERQI BUTGCFIKEBI D<F_FBEI Q IC^RBFDEFLKBEI DCI NRK;IUDKFIH IdI;BC <R WIHGCEGUG ;GERUDKFG aB<FLCBEG Q ERHFRCIH= +IUDKFIYI #GCBI HI EICDKEBI ;D GFCG< DZDUTHG<<DUDZIKFD<S EGK DcEDTEBLK ;D HI 0I<I ;DH )D\K DK 3RDYHIS ._cBEG= !GQS HI< KGFBEBI< ;DaIHHIbVG< ;D TBKFRCI< DK HI< EI<I< ;D #IKFIN_ ;D -GVGF\S qRBFGS $CRZBHHG G 0RbEGS KGEIR<IK FIKFI <GCTCD<I= !IK FCIK<ERCCB;G U\< ;D h@ IdG< Q DH BKWDKFICBG ;D UGCI;I< EGHGXKBIHD< EGK TBKFRCI URCIH aI ECDEB;G DKGCUDUDKFD= #BK DUYICVGS DH EGKZRKFG ;D EI<GKI< ;D$RKZI EGKFBKkI <BDK;G kKBEG TGC <R IKFBVuD;I; Q <BKVRHICB;I; FDU\FBEI=

+I< ;DEGCIEBGKD< <D NRDCGK ;BNRK;BDK;G Q aIEBDK;G BUTCD<EBK;BYHD< TICI HG< CDXEB_K EGK<FCRB;G< FDUTHG<S EGKWDKFG< Q EI<GKI< DK HI ,RDWI 7CIKI;IS aI<FI IHEIKbICRK NHGCDEBDKFD Q TCGNR<G ;D<ICCGHHG I HG HICVG ;D HI 0GHGKBI= *H TBKFGC Q <R GYCI <DaBEBDCGK FIK BK;B<TDK<IYHD< TICI HI D;BNBEIEBLK EGUG DH IC^RBFDEFG G DH IHICBND TICI HIEGK<FCREEBLK IC^RBFDEFLKBEI=

+I< DcTCD<BGKD< U\< IKFBVRI< ;D TBKFRCI URCIH EGHGKBIH EGCCD<TGK;DK IH <BVHG `O"SERIK;G <D BKBEBI DH TCGED<G ;D FCIbI;G Q RCYIKBbIEBLK ;D TRDYHG<S VDKDCI;G TGC RKTHIK ;D HI 0GCGKI D<TIdGHI TICI BUTHIKFIC <R ERHFRCI Q CDHBVBLKS ERQG CDNHDZG WI IDKEGKFCIC<D DK HI< TCGNR<I< BHR<FCIEBGKD< ;D FDUTHG< Q EITBHHI< ;GEFCBKDCI<= $RKZI NRDRKG ;D HG< EDKFCG< ;GK;D EGUDKbL I^RDHHI DcTCD<BLK D<F_FBEI Q ;DWGEBGKIH DK HI,RDWI 7CIKI;IS ^RD EGK<FBFRQL DH UG;DHG ;DH ICFD TICI HI <IHWIEBLK=

*H 0GK<DZG ;D "K;BI< DK *<TIdI TCGQDEFL HI TGHMFBEI RCYIKM<FBEI Q IC^RBFDEFLKBEIS^RD <DCMI HI YI<D ;D HI RKBNBEIEBLK ;D <R< EGHGKBI<= #B YBDK D<FD TCGED<G <D HHDWL IEIYG EGK DKGCUD< FCGTBDbG<S ;DYB;G I HI< VCIK;D< ;B<FIKEBI< DcB<FDKFD<S aIQ RKI<DUDZIKbI FIKFG DK HG< TRDYHG< Q DK DH ;B<DdG ;D HI IC^RBFDEFRCI ;GU_<FBEIS EGUGFIUYB_K DK HI ITHBEIEBLK ;D UG;DHG< EGURKD< DK HI EGK<FCREEBLK ;D BVHD<BI<S UGKI<XFDCBG< Q EHIR<FCG< ;D HI< ;B<FBKFI< LC;DKD< CDHBVBG<I< ^RD <D D<FIYHDEBDCGK DK HI ,RDWI7CIKI;IS EGUG HG< ;GUBKBEG<S NCIKEB<EIKG<S IVR<FBKG< Q ZD<RBFI<= *H EGKWDKFG ;D #IK'VR<FMK DK $RKZI D< RK UG;DHG BKD^RMWGEG ;D HI IC^RBFDEFRCI D<TIdGHI ;DH ,RDWG.RK;G= *K DH EIUTG ;DEGCIFBWGS IRK^RD HG< UGFBWG< NRDCGK HG< UB<UG<S IH BKFDCWDKBCHI UIKG ;D GYCI HGEIH EGK <R ITGCFD ;D HI WB<BLK KIFBWIS <D BKFCG;RZDCGK WICBIEBGKD<CBEI< DK CDTCD<DKFIEBGKD< TCGTBI< ;DH DKFGCKG=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fi?

+I< TBKFRCI< URCIHD< DCIK CDIHBbI;I< TGC <GHBEBFR; ;D <IEDC;GFD<S EGKVCDVIEBGKD< G;D RK TCD<FBVBG<G <DdGC ;DH HRVICS ^RBDKD< YR<EIYIK vFIKFG TICI HI IC^RBFDEFRCICDHBVBG<I EGUG TICI HI ;GU_<FBEIv ^RD HI< BU\VDKD< CDTCD<DKFIK HI DcTCD<BLK ;DUDK<IZD< ;GEFCBKIHD<S HG< kKBEG< TDCUBFB;G< DK HI _TGEI TGC <R DKGCUD WIHGC TICI HI;DWGEBLK ECB<FBIKI=

)DFC\< ;D HI< D<EDKI< ;D HI aB<FGCBI <IVCI;IS HG< <MUYGHG<S HI< NHGCD< Q HG< ICIYD<EG<S;B<TRD<FG< DK EGUTG<BEBGKD< TCDEB<I< Q EGK FGKIHB;I;D< ICULKBEI<S <BDUTCD <D VRICX;IYI RK UDK<IZD EHICG Q ;DWGFG= eG<_ ;D .D<I Q $DCD<I 7B<YDCF vD<TDEBIHB<FI< ;DHICFD EGHGKBIH DK 'U_CBEI +IFBKIv INBCUIK ^RD D<G< TCGVCIUI< D<FIYIK DKEIUBKI;G<I HI EGKWDC<BLK ;D HG< NBDHD<S I HI DcIHFIEBLK ;D HI< VHGCBI< ;D RKI GC;DK CDHBVBG<I G IHI TCD<DKFIEBLK ;D HI WB;I ;D RK <IKFGS ERIK;G KG I <DdIHIC RKI FDU\FBEI TDKBFDKEBIH^RD EGK;RZDCI IH ICCDTDKFBUBDKFG Q I HI EGKFDUTHIEBLK ;D HI URDCFD= *K GEI<BGKD< <DFCIFIYI ;D DKHIbIC TDC<GKIZD< UBFGHLVBEG< Q N\YRHI< IKFBVRI< EGK I<RKFG< CDHBVBG<G< GEGK HI< WBCFR;D< ;D ;DFDCUBKI;G TDC<GKIZDS EGUG <D ITCDEBI DK HI< NIUG<I< EI<I< ;D$RKZI=

*<D UD;BG BUTCDVKI;G ;D CDHBVBG<B;I; KG TRD;D DKFDK;DC<D U\< ^RD ;D<;D RK;GYHD TRKFG ;D WB<FI= 3CBUDCGS EGUG ;DNDK<I EGKFCI HG< aDCDZD< UGCG<S ^RD *<TIdIIEIYIYI ;D DcTRH<IC ;D<TR_< ;D <BDFD <BVHG< ;D BKWI<BLKS Q HRDVGS DK <R ;DFDCUBKIXEBLK ;D ITGQIC HI EGKEDTEBLK B;DGHLVBEI ;D HI 0GKFCICCDNGCUIS TICI BUTD;BC HI TG<BXYHD DcTIK<BLK ;D HI< ECDDKEBI< HRFDCIKI<= +I &DNGCUI TCGFD<FIKFD vI;DHIKFI;I TGC.ICFMK +RFDCGv DCI EGK<B;DCI;I HI U\< FDUBYHD IUDKIbI TICI DH URK;G EIFLHBEGS TGCHG ERIHS DK fAhAS DH TITI 3IRHG """ EGKWGEL DH VCIK 0GKEBHBG *ERU_KBEG ;D $CDKFGS^RD <D TCGHGKVL TGC fj IdG< Q FRWG ^RD <DC TCD<B;B;GS FIUYB_KS TGC HG< TITI< eRHBG """Q 3MG "O= +G< DcFDK<G< ;DYIFD< <D DKEIUBKICGK I D<FIYHDEDC HG< ;GVUI< TICI %EEBX;DKFD= *KFCD <R< ;DHBYDCIEBGKD<S DH 0GKEBHBG IEDTFL DH DUTHDG ;D HI BUIVBKDCMI CDHBVBGX<I Q <G<FRWG ^RD DCI KDED<ICBI TGC^RD [<D DcTGKDK I HG< GZG< ;D HG< NBDHD< HG<<IHR;IYHD< DZDUTHG< ;D HG< <IKFG< Q HG< UBHIVCG< ^RD )BG< aI GYCI;G TGC DHHG<]S <DVkKHG EBFI DH aB<FGCBI;GC 2CIKEB<EG 7BH $GWIC=

"""= #%-&* +'# 3",$8&'# )* +' 0'#' )* )%, e8', )* O'&7'# *,$8,e'p

:===> 3CGED;DK ;D HI U\< aGK;I FCI;BEBLK DRCGTDI ^RD IYICEIS DK D<FD EI<GS I 7CDEBIQ &GUI IKFBVRI<S 3GCFRVIHS 'HDUIKBIS 2HIK;D<S !GHIK;IS 2CIKEBIS "FIHBI Q *<TIdI= )D7CDEBI HG< ;BG<D< CDTCD<DKFI;G<5 ekTBFDCS .BKDCWI Q )BIKIl ;D &GUI DH D<FBHG TGUTDXQIKGl ;D 3GCFRVIH DH CBKGEDCGKFD CDVIHG ;DH CDQ .IKRDH "l ;D 'HDUIKBI DH VCIYI;G DKUI;DCI ;D )RCDCG ;D D<FD IKBUIHl ;D 2HIK;D<S "GIKKD< WIK ;DC #FCIDFS "GIKKD< 0GXHHIDCF Q 3aBHBTTR< 7IHHDS ^RBDKD< BKWDKFICGKS VCIYICGK Q TRYHBEICGKS CD<TDEFBWIUDKFDSHI H\UBKI ^RD <BCWBL TICI HG< DHDNIKFD<l ;D 2HIK;D<S FIUYB_K OCD;DUIK ;D OCBD<S ERQGVCIYI;G BK<TBCL HI EICFDHI ;D IHUBbIFDl ;D !GHIK;IS +DGKIC; $aBCQS BKWDKFGC ;D HG<

p= #%&"'S .ICFMK= +I TBKFRCI ;DH <BVHG `O" DK #R;IU_CBEI= -RDKG< 'BCD<S "K<FBFRFG ;D 'CFD'UDCBEIKG D "KWD<FBVIEBGKD< *<F_FBEI<S fgAiS 3\V= fs=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fip

UG;DHG< TICI HG< VCRFD<EG< ;D HG< ;BG<D<S ^RBDK HG< TBKFL DK 2CIKEBIS Q HG< EGUTR<GDK DH NIUG<G D<FBHG ;D HI *<ERDHI ;D 2GKFIBKDYHDIR BK<TBCI;G DK HG< ;B<DdG< ;D .BXVRDH 4KVDHS 7BRHBG &GUIKG Q 3ICUBVBIKBKGS Q DKFCDKI;G TGC &G<<G 2BGCDKFBKGS ICFB<XFI< BFIHBIKG< FG;G<l ;D *<TIdI DH ;GYHD <DKFB;G CDHBVBG<G Q EIYIHHDCD<EGS ^RD EGHGEL IHHI;G ;D HG< KGUYCD< ;D eD<k<S .ICMI Q eG<_S DH VCIK D<ER;G aB;IHVG ;DH TCGTBDFICBG ;DHI EI<I= 'HVkK ;DFIHHD <D EGTBL ;D RK VCIYI;G ;DH NCIKE_< .ICE )RWIH= 3ICI BK;BEIC DHIHEIKED URK;BIH ;D HG< NCD<EG< ;BCDUG< ^RD DH CBKGEDCGKFD DCIS DK D<FD EI<G ^RDWDCDUG<S GCBRK;G ;D HI "K;BI %CBDKFIH Q HG< DHDNIKFD< ;D 4NCBEI=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fih

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fii

+I <DVRK;I DFITI EGCCD<TGK;D I HI TBKFRCI YICCGEI ^RD IYICEI HI <DVRK;I UBFI;;DH <BVHG Ò""S UGUDKFG DK DH ^RD <D EGK<GHB;IK HI< FDK;DKEBI< KIFRCIHB<FI< Q YICCGXEI< TCGED;DKFD< ;D *<TIdI Q 2HIK;D<S Q TC\EFBEIUDKFD FG;G DH <BVHG Ò"""S TDCMG;G ;DD<TDEBIH <BVKBNBEIEBLK TRD< INHGCI DK DH ICFD TDCRIKG DH UD<FBbIZD <GEBIH Q DH <BKECDFB<XUG ERHFRCIH IUIHVIUI;G< ;D<TR_< ;D ;G< <BVHG< ;D VGYBDCKG WBCCDBKIHS CIbLK TGC HI^RD UREaG< BKWD<FBVI;GCD< ;DKGUBKIK I D<FI TBKFRCI ;DH #DFDEBDKFG< EGUG ;DH [-IXCCGEG .D<FBbG]= *< ;RCIKFD D<FD <BVHG Q UD;BGS ERIK;G <D EGK<GHB;IK HI< TCBKEBTIHD<D<ERDHI< WBCCDBKIHD<S D<TDEBIHUDKFD HI< ;G< U\< <BVKBNBEIFBWI<5 HI HBUDdIS ^RD aIHHIC\ <RTHDKBFR; ;RCIKFD DH kHFBUG FDCEBG ;DH <BVHG Ò""S Q ^RD FCI< RK TDCBG;G ;D D<FIKEIXUBDKFG CD<RCVBC\ DK HI <DVRK;I UBFI; ;DH <BVHG Ò""" YIZG DH D<TMCBFR BHR<FCI;G ;D HIUGKIC^RMI YGCYLKBEIl Q HI ERb^RDdIS ^RD EGUBDKbI I FDKDC BUTGCFIKEBI DK DH <DVRKX;G FDCEBG ;DH <BVHG Ò""S TICI EGK<GHB;IC<D ;RCIKFD DH UDEDKIbVG ;DH %YB<TG .IKRDH;D .GHHBKD;G Q 'KVRHG DK DH ^RD <D ECDI RK HDKVRIZD WB<RIH EICIEFDCM<FBEG ^RD <DINBIKbI DK DH <BVHG Ò"""S UGUDKFG ;D <R U\cBUG IRVD Q ;DUIK;I VCIEBI< I <RTICFBERHIC D<F_FBEI Q I HI< KRDWI< BEGKGVCINMI< ^RD ;D<ICCGHHI= "VRIHUDKFDS D< ;RCIKFDDH YICCGEG ERIK;G <D EGK<GHB;IK GFCG< EDKFCG< ICFM<FBEG< ;D VCIK <BVKBNBEIEBLK TICI DHICFD WBCCDBKIH TDCRIKGS EGKECDFIUDKFD HG< ^RD I;^RBCBDCGK BUTGCFIKEBI DK HI 'R;BDKXEBI ;D 0aICEI<S DK HI IEFRIHB;I; -GHBWBIS Q ^RD <GK5 HI D<ERDHI ;DH HIVG $BFBEIEIS ^RDIYICEL HI EBR;I; ;D +I 3IbS <R< TRDYHG< EBCERK;IKFD< Q HI CBYDCI ;DH HIVGl Q HI D<ERDHITGFG<BKIS ERQG KkEHDG TCBKEBTIH NRD HLVBEIUDKFD HI CBEI Q TCG<TDCI EBR;I; ;D 3GFG<M=

3GC kHFBUGS I NBKD< ;DH <BVHG Ò""" Q DK HG< IHYGCD< ;D HI BK;DTDK;DKEBI <D BUTGKDKHI< EGKEDTEBGKD< ;DH IEI;DUBEB<UG Q HI< KGCUIFBWI< EH\<BEI< ;DCBWI;I< ;D _HS vEGK<XFBFRQDK;G HI FDCEDCI Q kHFBUI DFITIv= *<FI CDKGWIEBLK ICFM<FBEI <D EDKFCL DK HI EBR;I;;D +BUI VCIEBI< I HI HIYGC ;D ;G< UID<FCG<S eG<_ ;DH 3GbG Q .IFMI< .ID<FCGl DK DHCD<FG ;DH FDCCBFGCBGS HI TDKDFCIEBLK ;D D<FI TBKFRCI KDGEH\<BEI NRD D<EI<IS UIKFDKB_K;GX<D HI< FCI;BEBGKD< IKFDCBGCD<=

*H D<FR;BG ;DH TIKGCIUI TBEFLCBEG TDCRIKG ^RD aDUG< FCIbI;G HG INCGKFIUG< I EGKFBXKRIEBLK DK ERIFCG VCIK;D< ITICFI;G<S <BVRBDK;G ECBFDCBG< ECGKGHLVBEG< Q GC;DKI;G< <DXVkK HG< KkEHDG< ICFM<FBEG< U\< <BVKBNBEIFBWG<S I NBK ;D THI<UIC DK HI UD;B;I ;D HG TG<BYHD HIEGUTHDZB;I; Q HI< ;BWDC<I< ITGCFIEBGKD< ̂ RD <D <RED;DK DK HI TCIEFBEI TBEFLCBEI I HG HICVG;DH WBCCDBKIFG= 'aGCI YBDKS I TD<IC ;D D<FI <BUTHBNBEIEBLKS CDIHBbI;I ;D<;D RK TRKFG ;D WB<FID<FCBEFIUDKFD ;B;\EFBEGS KG ;DYDUG< GHWB;IC HI URHFBTHBEB;I; ;D HDEFRCI< D<F_FBEI< D BEGKGXVC\NBEI< ;D D<FI TBKFRCIS ̂ RD <D HBYDCI ;D DKEGC<DFIUBDKFG< ECGKGHLVBEG< Q ERHFRCIHD<=

?= +%# '+-%&*# )* +' 3",$8&' 3*&8','5 3&".*&'# '3%&$'0"%,*# 1?= #8&7"."*,$% )* +'# *#08*+'# O"&&*",'+*#

+I D<FIYBHB;I; TGHMFBEI Q I;UBKB<FCIFBWI BK<FIRCI;I TGC DH WBCCDQ 2CIKEB<EG ;D $GHD;G ITICFBC ;D fAs?S TGK;C\ HI< YI<D< TICI DH ;D<ICCGHHG ERHFRCIH ;DH 3DCkS NIWGCDEBDK;G HI HHDVIX;I ;D ICFB<FI< aB<TIKG< Q DRCGTDG<S ̂ RD D<FIYHDEDK FIHHDCD< DK HG< EDKFCG< RCYIKG< ;D +BUIQ 0RbEGS Q I ERQI IEFBWB;I; <D RKD HI ;D HG< UID<FCG< Q ICFD<IKG< BK;MVDKI<= *<TDEBIHUDKXFD <BVKBNBEIFBWI D< HI EGKFCBYREBLK ;D FCD< ICFB<FI< ;D GCBVDK BFIHBIKGS -DCKIC;G -BFFBS .IFDG3_CDb ;D 'HD<BG Q 'KVDHBKG .D;GCGS ̂ RBDKD< BKFCG;REDK HG< UG;DHG< UIKBDCB<FI< CGUIKG<SI FCIW_< ;D NBVRCI< IHICVI;I<S TG<D< <GNB<FBEI;I< Q <RIWD EGHGCB;G=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fis

-DCKIC;G -BFFB :fAhjXfif@> HHDVL I +BUI DK fAsAS CDIHBbIK;G KRUDCG<I< GYCI<TBEFLCBEI< Q D<ERHFLCBEI< TICI HI 0GUTIdMI ;D eD<k<S GC;DK I HI ^RD TDCFDKDEMIS TGCFG;G DH FDCCBFGCBG TDCRIKG= #R TCG;REEBLK D< DH UDZGC DZDUTHG ;D HI< KGCUI< FCB;DKFBXKI< DK DH FDCCDKG ;D HI< ICFD< NBVRCIFBWI<S EICIEFDCBb\K;G<D TGC TDC<GKIZD< ;D ;RHED<

.'$*% 3/&*9 )* '+*#"%= O"&7*, )* +' +*0!* :0=fi@h>=0%+*00"J, 3'&$"08+'&S +".'

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fij

CG<FCG< Q CGTIZD< ;D THBDVRD< IKVRHG<G<S Q DK HG< ^RD <D BKEHBKI TGC RK EGHGCB;G ;DFGKG< TI<FDHS <RIWD< Q IVCI;IYHD <D D<FIYHDEBL DK +BUI DK fAjgS IYCBDK;GRK FIHHDC ^RD <D EGKWBCFBL DK DH DZD ;D HI TBKFRCI HBUDdI ;D I^RDHHG< IdG< TGC HG<BUTGCFIKFD< DKEICVG< ^RD IHYDCVL Q HG< KRUDCG<G< ;B<EMTRHG< ^RD EGKFLS DKFCD HG<^RD <GYCD<IHDK <R aBZG ';CB\KS 3D;CG 3IYHG .GCLKS Q )GUBKVG Q 0HDUDKFD 7BH= ';DXU\< ;D TBKFRCI ;D EIYIHHDFDS ;D HI ^RD ;D<FIEI <R ;DHBEI;I OBCVDK ;D HI HDEaD S CDIHBbLGYCI< ;D TBKFRCI URCIHS FG;I< DHHI< ;D ;BYRZG Q EGUTG<BEBLK CBVRCG<G< TDCG EGK EBDCFIFDK;DKEBI aIEBI HI VCIK;BHGERDKEBI=

*H kHFBUG ;D KRD<FCG< UID<FCG< BFIHBIKG< D< 'KVDHBKG .D;GCG :fAisXfipp>S ^RBDKFCIYIZL DK 0GHGUYBI Q *ERI;GC IKFD< ;D D<FIYHDEDC<D DK 3DCk DK fAgg= #R GYCIS;B<TIC DK D<FBHG Q EIHB;I;S <D EICIEFDCBbI TGC HI Yk<^RD;I ;DH D^RBHBYCBG EGUTG<BFBWG QRKI FDK;DKEBI aIEBI DH KIFRCIHB<UG DK HI CDTCD<DKFIEBLK ;D HI< NBVRCI<S FIH EGUG <DGY<DCWI DK ;G< ;D <R< GYCI< U\< <BVKBNBEIFBWI<S HI "KUIERHI;I ;D HI "VHD<BI ;D #IK'VR<FMK DK +BUIS Q eD<k< ;D HI !RUBH;I; Q HI 3IEBDKEBI ;D HI 0GHDEEBLK -DHIkK;D.GCDQCI FIUYB_K DK +BUI= 'H BVRIH ^RD 'HD<BGS .D;GCG D<FIYHDEBL RK FIHHDC DK HIEITBFIH WBCCDBKIH EGK KGFIYHD _cBFGS DK DH ^RD <D NGCUICGK DH BK;MVDKI 3D;CG ;D +GIQbIQ DH ECBGHHG +RB< ;D &BIdGS ^RBDKD< DcTIK;BDCGK HI D<F_FBEI ;DH UID<FCG TGC HI EBR;I;;D 0RbEG Q <R< IHCD;D;GCD<=

*H D<FBHG BUTRD<FG TGC D<FG< TBKFGCD< BFIHBIKG<S VCIEBI< I HI HIYGC ;D <R< ;B<EMTRHG<Q <DVRB;GCD< QI EGUDKFI;G<S <D TCGHGKVIC\ aI<FI HI ERICFI ;_EI;I ;DH <BVHG `O""= #BKDUYICVGS TIRHIFBKIUDKFDS DH HDKVRIZD TBEFLCBEG BC\ FCIK<NGCU\K;G<D I UD;B;I ^RDIWIKbI HI TCBUDCI UBFI; ;D D<FI EDKFRCBIS VCIEBI< I RKI <DCBD ;D TCGED<G<= 3GC RK HI;GS;D<FIEI HI TDCWBWDKEBI ;D EBDCFG< CI<VG< ICEIBbIKFD< TCGTBG< ;D HG< ICFB<FI< HGEIHD< ;D0RbEG Q DH #RC 'K;BKG ^RD [IKRKEBI DH BKBEBG ;D RK NI<EBKIKFD TCGED<G ;D DUTIFMIEGK DH URK;G <GEBIH EBCERK;IKFD]S KGFI EGK<FIKFD Q EICIEFDCM<FBEI ;D HI TBKFRCI ERbX^RDdI EGUG WDCDUG<= 3GC GFCGS D< ;D VCIK <BVKBNBEIEBLK HI EGK<FIKFD CDEDTEBLK ;DKGWD;I;D< D<FBHM<FBEI< TCGED;DKFD< ;D *RCGTIS EGUG D< DH EI<G ;DH KIFRCIHB<UGS TCGXTBG ;D HI TBKFRCI D<TIdGHI ;DH UGUDKFGS Q ^RD HHDVI I 3DCk I FCIW_< ;DH D<FIYHDEBUBDKXFG ;D UID<FCG< BKUBVCIKFD< ;D HI 3DKMK<RHI Q TGC DH DKWBG ;D GYCI< ;D TCD<FBVBG<G<ICFB<FI< aB<TIKG< ;D<;D DH TRDCFG ;D #DWBHHI aIEBI D<FD WBCCDBKIFGS EGUG D< DH EI<G ;D2CIKEB<EG ;D 9RCYIC\K= $IUYB_K <D CDEBYDK HI< KGWD;I;D< ;D HI TBKFRCI YICCGEI NHIXUDKEIS D<TDEBIHUDKFD ;D HI GYCI ;D 3D;CG 3IYHG &RYDK<S VCIEBI< I HI UI<BWI EBCERHIXEBLK ;D D<FIUTI< Q VCIYI;G< ;D D<FI D<ERDHIS ^RD <DCWBC\K EGUG NRDKFD ;D BK<TBCIEBLKTICI HG< ICFB<FI< HGEIHD<=

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eICIUBHHG ERQI GYCI D<F\ ;GERUDKFI;I DKFCD



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fig

$'++*& )* 98&-'&4,= )'O") 0%, +' 0'-*9' )* 7%+"'$ :#"7+% `O"">=0%+*00"J, .',8*+ .re"0' 7'++%S 0'#' +%&0'S +".'

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fs@

fifg Q fihp= )D <R TCG;REEBLKS ^RD FIUYB_K ;D<ICCGHHI DK HI< EBR;I;D< ;D $CRZBHHG Q0IZIUICEIS ;D<FIEI +I BUTG<BEBLK ;D HI EI<RHHI I #IK "H;DNGK<G :fip?> DK DH EGKWDKFG;D HG< )D<EIHbG< DK +BUIS ^RD URD<FCI HI ;RIHB;I; <DdIHI;I ;D HI TBKFRCI TDCRIKI ;DHUGUDKFGS TRD< IHVRKG< ;D <R< TDC<GKIZD< URD<FCI< EBDCFG< BKNHRZG< ;D -BFFB Q 'HD<BGUBDKFCI< ^RD <R NGCUIEBLK TDKBK<RHICS TG<BYHDUDKFD ;DKFCG ;DH EMCERHG aRUIKB<FI ;DHTBKFGC <DWBHHIKG 2CIKEB<EG 3IEaDEGS <D ITCDEBI DK DH KIFRCIHB<UG EGK DH ^RD FCIFIIHVRKG< CG<FCG< Q CGTIZD<=

'H TCGUD;BIC DH <BVHG Ò"" <D EGK<GHB;I DK HG< EMCERHG< ICFM<FBEG< HBUDdG< HI< FDKX;DKEBI< KIFRCIHB<FI< Q YICCGEI< TCGED;DKFD< ;D *<TIdI Q 2HIK;D<= 3ICIHDHIUDKFDS <DTCG;RED DH TCBUDC BKFDKFG ;D IVCDUBIEBLK ;D HG< ICFB<FI< EITBFIHBKG< DK fihgS HG ^RDKG< URD<FCI DH ;BKIUB<UG ;DH ICFD TBEFLCBEG ;D HI EBR;I; ^RD BKFDKFI ;DNDK;DC<D ;D HIEGUTDFDKEBI ;D<HDIHS FG;G HG ERIH D<F\ DK HI YI<D ;D HI ECDIEBLK ;D HI D<ERDHI HBUDdI;D TBKFRCIS HI ERIH <D ;DNBKD EGK TCGTBD;I; DK HG< IdG< NBKIHD< ;D D<FI EDKFRCBI=

+I EBR;I; ;D 0RbEG WBWD ;RCIKFD FG;G DH <BVHG Ò"" RKI BUTGCFIKFD IEFBWB;I;TBEFLCBEIS <B YBDK HI< TCBUDCI< ERIFCG ;_EI;I< <DKFIC\K HI< YI<D< TICI DH ;D<ICCGHHGRHFDCBGC ;D <R NIUG<I D<ERDHIS QI DK HI <DVRK;I UBFI; ;D D<FI EDKFRCBI= *<FD TDCMG;G;D FCIK<BEBLK <D EICIEFDCBbI TGC HI EGKWBWDKEBI ;DH VR<FG BFIHBIKB<FI vDK <R WDCFBDKFDU\< TCGWBKEBIKI Q ICEIBEIv EGK HI FMUB;I BKEGCTGCIEBLK ;D BKKGWIEBGKD<S EGUG D< DHEI<G ;DH DUTHDG ;DH EHICG<ERCG Q DH R<G ;D TCGFGFBTG< VCIYI;G< ;D HI D<ERDHI NHIUDKXEI= *KFCD HG< ICFB<FI< ;D CIBVIUYCD BFIHBIKI ;DYDUG< UDKEBGKIC I 7CDVGCBG 7IUICCIS<DVRB;GC ;D -BFFB QS <GYCD FG;GS I +RB< ;D &BIdGS ^RBDK <D NGCUL EGK .D;GCG Q <DDKEICVL ;DH TCGVCIUI ;D TBKFRCI URCIH ;D HI BVHD<BI ;D 'K;IaRIQHBHHI<S EGKFCBYRQDKX;G IH NHGCDEBUBDKFG ;D D<FI FBTGHGVMI TBEFLCBEI ;D;BEI;I I HI BK<FCREEBLK CDHBVBGS ^RBDK FGUI VCIYI;G< ;D HI<GYCI< ;D &RYDK< TICI <R< EGUTG<BEBGKD<S EGUG DK DH EI<G ;D HI TICDZI ;D ERI;CG<<GYCD +G< U\CFBCD< NCIKEB<EIKG< ;DH eITLK :fgp@>S Q eRIK *<TBKGS IRFGC ^RD DcTCD<I DK <R< EGUTG<BEBGKD< TCBUDCG DH FDKDXYCB<UG Q HRDVG DH D<FBHG IUIYHD URCBHHD<EG ;D HI D<ERDHI #DWBHHIKI= *KFCD <R< GYCI<FBDKDK D<TDEBIH <BVKBNBEIEBLK HI< ^RD CDIHBbL TICI HI GC;DK ;D #IK 2CIKEB<EG ;D 0RbEGEGUG *H DTMHGVG ;D HI GC;DK :fiAA> Q +I NRDKFD ;D HI VCIEBI :fiAA> TCD<B;B;I TGC HI"KUIERHI;I= 3GC kHFBUGS DK <R <DCBD <GYCD +I WB;I ;D #IKFI 0IFIHBKI ;D #BDKI :fiig>TICI DH EGKWDKFG ;DH UB<UG KGUYCDS BKFCG;RED DH UGFBWG NHIUDKEG ;D GCHI< ;D NHGCD<CG;DIK;G EI;I D<EDKIS DH ERIH <DC\ I;GTFI;G EGUG TCGTBG TGC HI TBKFRCI ERb^RDdITG<FDCBGC=

p= +' 3",$8&' -'&&%0'5 +'# *#08*+'# )* +".' 1 0890%

+I TBKFRCI YICCGEI TDCRIKIS EGUG QI aDUG< ITRKFI;GS <D ;D<ICCGHHI ;RCIKFD HI<DVRK;I UBFI; ;DH <BVHG Ò"" Q TC\EFBEIUDKFD FG;G DH <BVHG Ò"""= +I ;DNBKBEBLK ;D <RHDKVRIZD D<F_FBEG TICFD ;D HG< TCD<RTRD<FG< ;D HI DFITI IKFDCBGCS QI ^RD <D UIKFBDKDHI BKNHRDKEBI ;D HI TBKFRCI D<TIdGHI Q DH R<G ;D VCIYI;G< TCGED;DKFD< ;D 'UYDCD<SEGUG UG;DHG< TICI <R< EGUTG<BEBGKD<= *K D<FD <DKFB;GS ;DYDUG< ;D<FIEIC EGUG D<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fsf

RK TDCMG;G DK DH ^RD DH ;BKIUB<UG ;D HG< TCGTBG< FIHHDCD< TDCRIKG<S DKFCD GFCI< EIRX<I<S CIHDKFBbI DH FC\NBEG EGUDCEBIH ;D TBKFRCI< ;D<;D DH TRDCFG aB<TIHDK<DS <B YBDK FG;IXWMI <D aIEDK DKEICVG< ;D BUTGCFIKEBI HBVI;G< I HI< EGCCBDKFD< U\< WIKVRIC;B<FI< ;DHYICCGEG TDKBK<RHICS EGUG TGC DZDUTHG HI <DCBD ;D HI OB;I ;D #IK "VKIEBG ;D eRIK ;DOIH;_< +DIH TICI HI BVHD<BI ;D #IK 3D;CG ;D +BUIS G HI <DCBD ;D HI OB;I ;D #IK 2CIKEB<X EG eIWBDC IFCBYRB;I IH FIUYB_K <DWBHHIKG .IFMI< ;D 'CFDIVIS Q ^RD <D DKERDKFCI DK HIBVHD<BI HBUDdI ;D #IK .ICEDHG=

'aGCI YBDKS <GYCD FG;I< D<FI< ITGCFIEBGKD< HG< ICFB<FI< TDCRIKG< EGK<FCRBC\K <R;B<ERC<G D<F_FBEGS DK DH ^RD EGUBDKbIK I FDKDC EI;I WDC UIQGC BUTGCFIKEBI HI< CIMED<^RD DKFCGKEIK EGK HI< ERHFRCI< TCDaB<T\KBEI<S FIKFG DK HG ^RD <D CDNBDCD I HI EGK<FCREXEBLK ;DH HDKVRIZD TBEFLCBEG TCGTBIUDKFD ;BEaG EGUG I HI DHIYGCIEBLK ;DH BUIVBKICBGWB<RIH ;D HI <GEBD;I; WBCCDBKIHS QI UD<FBbI;I Q NRDCFDUDKFD ZDCIC^RBbI;I= *<TDEBIHUDKXFD <BVKBNBEIFBWGS DK D<FD <DKFB;GS D< DH <BKECDFB<UG CDHBVBG<G ^RD TDCUBFBL HI I<BUBHIEBLK;DH ECB<FBIKB<UG TGC UD;BG ;D <R I;ITFIEBLK I ECDDKEBI<S CBFG< D BU\VDKD< TCDEGHGUYBXKI<S ;IK;G HRVIC I HI< KRDWI< BEGKGVCINMI< ^RD D<FR;BICDUG< I EGKFBKRIEBLK=

3CGED<G< <BUBHICD< <D GY<DCWIK DK GFCI< HDEFRCI< D BKFDCTCDFIEBGKD< FDU\FBEI<S EGUGD< DH EI<G ;D HI< WB<FI< RCYIKI<S HG< CDFCIFG< ;D KGYHD<S FIKFG ECBGHHG< EGUG BK;MVDKI<SHG< \CYGHD< VDKDIHLVBEG< ;D HG< EIEB^RD< BKEI< G HG< ERI;CG< ;D HI #DCBD ;D .D<FBbIZD ;DH OBCCDQ 'UIF S FG;G< HG< ERIHD< KG< TGKDK DK EGKFIEFG EGK HG< ;BWDC<G< D<FIUDKFG<SHI WB;I EGFB;BIKI Q HG< WIHGCD< UGCIHD< ;D D<FI <GEBD;I;= *K EGKEHR<BLKS D<FD TDCBG;G<D EICIEFDCBbI TGC RK TCGED<G ;D <BKECDFB<UG ERHFRCIH I VCIK D<EIHIS DK DH ^RD <DVDKDCIK HDKVRIZD<S F_EKBEI< Q FDU\FBEI< TCGTBIUDKFD IUDCBEIKI<S TDCRIKI< DK D<FDEI<G EGKECDFGS ;DYB;G I HI BUYCBEIEBLK ;D HG< ITGCFD< DRCGTDG< Q IRFLEFGKG< ^RDaDUG< EGUDKFI;G=

p=f= +I D<ERDHI ;D +BUI

+BUIS EITBFIH WBCCDBKIH Q RCYD EG<UGTGHBFIS <D EGKWBDCFD DK RKG ;D HG< EDKFCG<ICFM<FBEG< U\< BUTGCFIKFD< ;D HI 'U_CBEI !B<TIKI ;RCIKFD DH kHFBUG FDCEBG ;DH <BVHG`O""= #R D<ERDHI ;D TBKFRCIS DK HI ^RD <D IUIHVIUIK HI< BKNHRDKEBI< BFIHBIKI<S NHIUDKXEI< D aB<TIKI<S <D ;DNBKD TGC <R EIC\EFDC DEH_EFBEG Q DRCGTDBbIKFD= $GUIK;G EGUGYI<D HI TBKFRCI CDHBVBG<IS DH BKWD<FBVI;GC eGCVD -DCKIHD< -IHHD<FDCG< NBZL RKI <DCBD ;DCI<VG< B;DKFBNBEIYHD< TICI HG< TBKFGCD< HBUDdG<S FIHD< EGUG HI TC\EFBEI ;D RK KIFRCIHB<XUG <RIWDS <BK D<FCB;DKEBI<S ICUGKMI ;D EGHGCD< Q IHVRKI BK;DEB<BLK ;D TDCNBHD<l EDHIZD<D BKFDCBGCD< ;D FDK;DKEBI< I HI< FGKIHB;I;D< CGZBbI<S NBVRCI< ;D UGWBUBDKFG <DKEBHHGS ;DIEEBGKD< FCIFI;I< EGK ;DEGCG Q CDIHbI;I< TGC WD<FB;RCI< aDEaI< EGK THBDVRD< IUTHBG<Q DHDVIKFD<l HI HRb <RDHD ;D<FIEIC HG< GYZDFG< TCBKEBTIHD< Q HG< NGK;G< <GK FCIFI;G< <BKUREaI< EGUTHBEIEBGKD<=

*H TCGVCIUI ICFM<FBEG U\< <BVKBNBEIFBWGS Q ^RD CDkKD HI GYCI ;D HG< UID<FCG< U\<ERIHBNBEI;G< ;D HI EBR;I; DK D<FG< UGUDKFG<S D< DH EBEHG ;D TBKFRCI< <GYCD HI OB;I ;D #IK 2CIKEB<EG ;D '<M< :fisfXfis?> ^RD ;DEGCI DH EHIR<FCG ;D <R EGKWDKFG= *K _HBKFDCWBDKDK HG< ECBGHHG< 2CIKEB<EG ;D *<EGYIC :IEFBWG DKFCD fihg Q fisi>S 3D;CG 2DCXK\K;Db ;D ,GCBDVI :‚ fiji>S )BDVG ;D 'VRBHDCI :fifgXfisi> Q DH D<EHIWG KDVCG'K;C_< ;D +B_YIKI= #GK HBDKbG< ERQI< D<EDKI< D<F\K YI<I;I< DK VCIYI;G<S TDCG I HI<



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fsp

0&"#$J-'+ )* '78"+'&= )%P' &%#' e8+"',' #4,0!*9 )* $'7+*S .'&q8*#')* $%&&* $'7+* :fsji>= 0%+*00"J, 2'."+"' %&$"9 )* 0*O'++%# 7&'8S3'+'0"% )* $%&&* $'7+*S +".'

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fsh

;G BKEHR<G I <R<FBFRBC KRUDCG<G< CDFIYHG< Q TBKFRCI< URCIHD< ;D D<FD D<FBHG TGC GFCI<GYCI< U\< IEGC;D< EGK <R< EGKEDTEBGKD< TRCB<FI< Q IEI;_UBEI<= #R IEFBWB;I; <DEDKFCL NRK;IUDKFIHUDKFD DK DH \UYBFG DEHD<B\<FBEG QI ^RD HHDVL I +BUI DK DH <_^RBFG;DH 'CbGYB<TG 7GKb\HDb ;D HI &DVRDCIS CDIHBbIK;G HI VIHDCMI ;D CDFCIFG< ;D HG< ICbGXYB<TG< ;D +BUI Q HG< URCIHD< ;D HI EGK<IVCIEBLKS FG;I< D<FI< GYCI< TICI HI EIFD;CIHHBUDdIS I<M EGUG HI <DCBD ;D HI OB;I ;D 0CB<FG ;D HI EI<I ;D DZDCEBEBG< D<TBCBFRIHD< ;DHEGKWDKFG ;D #IK 2CIKEB<EG=

p=?= +I D<ERDHI ;D 0RbEG

*H WIHGC ;D HI< FCI;BEBGKD< ICFM<FBEI< IRFLEFGKI< D< DH CI<VG ̂ RD UDZGC ;DNBKD HI TBKFRCIERb^RDdI DK GTG<BEBLK IH EIC\EFDC UICEI;IUDKFD EG<UGTGHBFI ;D HI D<ERDHI HBUDdI= *<FID< RKI EGK<DERDKEBI HLVBEI <B FDKDUG< DK ERDKFI HI CBEI FCI;BEBLK ERHFRCIH Q ICFM<FBEI ;D HG<TRDYHG< TDCRIKG<S EDKFCIHBbI;I DK HG< IdG< BKUD;BIFIUDKFD IKFDCBGCD< I HI HHDVI;I ;D HG<D<TIdGHD< DK 0RbEGS EITBFIH ;DH $ItIKFBK<RQG= #R D<ERDHI ;D TBKFRCIS TICFBDK;G ;D BKXNHRDKEBI< QI EGKGEB;I<S D< ;DEBCS HI ;D HG< UID<FCG< BFIHBIKG< ;D NBKD< ;DH <BVHG ̀ O"S ;D HID<ERDHI #DWBHHIKI Q ;D HG< VCIYI;G< NHIUDKEG<S HGVCI EGKNBVRCIC <R TCGTBI TH\<FBEI IHTDCRIKBbIC <B<FDUI< ;D CDTCD<DKFIEBLK Q FDU\FBEI< BEGKGVC\NBEI<S FIH EGUG DUTBDbI I D<YGXbIC<D DK HI DFITI IKFDCBGC= #BK DUYICVGS <DC\ YIZG DH UDEDKIbVG ;DH GYB<TG .IKRDH ;D.GHHBKD;G Q 'KVRHG :fispXfigg>S ERIK;G HI TBKFRCI ERb^RDdI GYFDKVI DH BUTRH<G ;DNBKBXFBWG Q ;D<ICCGHHD <R UGUDKFG U\< ECDIFBWG=

*KFCD HI IUTHBI KLUBKI ;D UID<FCG< Q ICFD<IKG< vFIKFG ECBGHHG< EGUG BK;MVDKI<v ̂ RDFCIYIZIK ;RCIKFD D<FD TDCBG;GS ;D<FIEIK HI< GYCI< ;D ;G< ICFB<FI< BK;BG<5 )BDVG qRB<TD $BFG:fiffXfijf~> Q -I<BHBG ;D #IKFI 0CRb 3RUIEIHHIG :IEFBWG DKFCD fiifXfs@@>= 'UYG< <GKYRDK DZDUTHG ;DH TD<G ^RD DK D<FI D<ERDHI FBDKDK HI< NLCURHI< IRFLEFGKI<S HGVCIK;GBUTGKDC<D TGC DKEICVG< Q TCD<FBVBG I HG< ICFB<FI< ECBGHHG< ;D <R VDKDCIEBLK=

3GEG< ;IFG< EGKGEDUG< EGK EDCFDbI ;DH UID<FCG )BDVG qRB<TD= 'H TICDEDC DCIGCBRK;G ;D HI TICCG^RBI ;D #IK #DYI<FB\KS QI ^RD DK D<FD FDUTHG <D EGK<DCWI VCIKTICFD ;D <R GYCI= /<FI FGUI EGUG CDNDCDKEBI TICI HI< EGUTG<BEBGKD< HG< VCIYI;G<NHIUDKEG<S TDCG qRB<TD HG< IHFDCI IdI;B_K;GHD \KVDHD< Q RK TIB<IZD B;DIHBbI;G HHDKG;D ECBIFRCI< ^RD TICDEDK B;DKFBNBEIC<D EGK HI NIRKI HGEIH= ';DU\<S <R ;BYRZG D< URQNBKGS <R TBKEDHI;I \VBH Q HHDKI ;D RK WBWG EGHGCB;G= )D <R TCG;REEBLK ;D<FIEIK HG<HBDKbG< CDIHBbI;G< <GYCD HI OB;I ;D 0CB<FG ;D HI BVHD<BI ;D #IK #DYI<FB\K TDCGS <GYCDFG;GS HI #DCBD ;DH 9G;MIEG ;D HI 0IFD;CIH ;D 0RbEG :fijf>S CDIHBbI;G< <GYCD VCIYI;G<;D != -GHS DK HG< ^RD HG< <BVKG< <D IEGUTIdIK ;D TIC\YGHI< Q D<EDKI< DWIKV_HBEI<=

-I<BHBG ;D #IKFI 0CRb 3RUIEIHHIG NRD DH TBKFGC TCD;BHDEFG ;DH GYB<TG .GHHBKD;GSCDIHBbIK;G RKI <DCBD ;D HBDKbG< ^RD ;DEGCIK DH ECREDCG Q FCI<EGCG ;D HI EIFD;CIHERb^RDdIS Q DK HG< ^RD <D BUTGKD RKI FDU\FBEI THDKIUDKFD EGKFCICCDNGCUB<FI FIKFGDK DH <IKFGCIH CDTCD<DKFI;G EGUG DK HI TCD;BHDEEBLK TGC DH UB<FDCBG ;D HI *REICB<FMI=#GK GYCI< DK HI< ^RD <D CDWDHI DH BKNHRZG ;D &RYDK< Q <R D<ERDHIS TDCG FIUYB_K ;D HITBKFRCI D<TIdGHI EGKFDUTGC\KDIS D<TDEBIHUDKFD HI UI;CBHDdI ^RD EGKGEBL I FCIW_< ;DHI EGHDEEBLK ;DH TCGTBG GYB<TGS TGC UD;BG ;D VCIK;D< EGUTG<BEBGKD< ;D EIC\EFDCFCBRKNIHS HRUBKG<G Q NRDCFD EGHGCB;GS Q RK IUTRHG<G UGWBUBDKFG ;D TIdG<= *< DH EI<G;D HG< HBDKbG< ;D +I ITICBEBLK ;D HI OBCVDK I #IK 2DHBTD ,DCB Q +I EI<RHHI ;D #IK

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fsA

"H;DNGK<G S DK HG< ^RD ;GUBKIK HI< ;BIVGKIHD<S RK NGK;G IC^RBFDEFLKBEG URQ YBDKTBKFI;G Q RK ERB;I;G EGHGCB;G= "VRIHUDKFD ;D<FIEIK HG< ERI;CG< ;DH EGCG ^RD CDTCDX<DKFIK I HI OBCVDK ;D -DH_K S DK ^RD ITICDED RK CDFCIFG ;D .GHHBKD;G EGUG GCIKFDS QHI OBCVDK ;D HI 'HUR;DKI S DK HG< ^RD HG< GCIKFD< <GK DH CDQ 0ICHG< "" Q <R D<TG<ISCDWDHIK;G ;D D<FI NGCUI HI TGHMFBEI WB<RIH ;D <R UDEDKI<=

' D<FI UB<UI TGHMFBEI WB<RIH CD<TGK;DS <BK ;R;IS HI #DCBD ;DH 0GCTR< ;D #IKFI 'KI STG<BYHDUDKFD DKEICVG TBEFLCBEG ;DH TCGTBG .GHHBKD;GS TRD< ITICDED CDTCD<DKFI;G DK

-'#"+"% )* #',$' 0&89 38.'0'++'%= #', 2&',0"#0% )* '#6# :#"7+% `O"">=0%+*00"J, 0*+#% 3'#$%& )* +' $%&&*S +".'

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fsi

;G< ;D HG< ERI;CG<S Q ERQI IRFGCMI <D CDHIEBGKI EGK DH EMCERHG BKUD;BIFG ;D <DVRB;GCD<;D #IKFI 0CRb= +I <DCBDS NGCUI;I TGC fA ERI;CG<S CDTCD<DKFI HI TCGED<BLK ;DH 0GCTR<^RD <D ;D<ICCGHHIYI TGC HI< TCBKEBTIHD< EIHHD< ;D 0RbEGS UG<FCIK;G RKI BUIVDK B;DIH;DH IEGKFDEBUBDKFGS DK DH ^RD TICFBEBTIK HI< ;B<FBKFI< EHI<D< <GEBIHD< ;D HI EBR;I;S EGKD<TDEBIH <BVKBNBEIEBLK ;D HG< KGYHD< BK;MVDKI<S ERQI< I<TBCIEBGKD< ;D TCD<FBVBG <GEBIH<GK a\YBHUDKFD EIKIHBbI;I< ;D D<FI NGCUI TGC HI< IRFGCB;I;D< DEHD<B\<FBEI<= "VRIHUDKXFD DK DH EMCERHG ;D #IKFI 0CRb ;D<FIEIK TBKFGCD< ;D TCBUDCI NBHI EGUG eRIK 9ITIFI"KEI Q 'KFGKBG #BKEaB &GEIS ^RBDKD< FCIK<UBFDK <R D<F_FBEI TDCG FIUYB_K HI ;D qRB<TD$BFGS EGKWBCFB_K;G<D DK DH WMKERHG DKFCD D<FI VDKDCIEBLK Q HI ;D HG< TBKFGCD< ;D HI<BVRBDKFD EDKFRCBI=

*H <BVHG `O""" D< DH TDCMG;G ;D U\cBUI DcTIK<BLK Q ;DUIK;I ;D HI TBKFRCI ERb^RDXdI ^RDS VCIEBI< I HI BKFDK<I IEFBWB;I; ;D <R< FIHHDCD< Q I HI EGK<GHB;IEBLK ;D RKWGEIYRHICBG ICFM<FBEG D<TDEMNBEGS DcTGCFIC\ <R< HBDKbG TGC FG;I HI CDVBLK IK;BKI TDCGFIUYB_K aIEBI +BUIS DH 'HFG 3DCkS 0aBHD Q KGCFD ;D 'CVDKFBKI= *<FD _cBFG <D NRK;IUDKXFI DK FCD< I<TDEFG< Y\<BEG<5 CDKGWIEBLK NGCUIHS BKWDKEBLK BEGKGVC\NBEI Q CDKIEBUBDKX

FG BKEIS FG;G< DHHG< NCRFG ;D HI I<BUBHIEBLK Q CDDHIYGCIEBLK ;D HI< ;BNDCDKFD< ITGCFIEBGKD<TBEFLCBEI< ;D HI< EDKFRCBI< TCDED;DKFD<=

',J,".%= *+ &*7&*#% )* *7"3$% :0=fsA@>=0%+*00"J, --O' -',0% 0%,$",*,$'+S +".'



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fss

',J,".%= '&04,7*+ '&0'-80*&% :#"7+% `O"">=$*.3+% )*+ ,"P% e*#r# )* P*q8*S '1'080!%

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fsg

EGCCD<TGK;DC EGK HI< TG<BEBGKD< TICI DH UIKDZG ;D ICUI< ;D NRDVG DK FCIFI;G< NHIXUDKEG< ;D ICEIYREDCMI= #R GCBVDK Q <BVKBNBEI;G IkK KG D<F\ EHICGS I<M TICI IHVRKG<BKWD<FBVI;GCD< <D FCIFI ;D RK TCGED<G ;D <BKECDFB<UG ECDI;G TGC HG< UB<BGKDCG< ^RD<R<FBFRQDCGK HG< ERHFG< EG<UGHLVBEG< IK;BKG< TGC DH ;D D<FG< ICE\KVDHD<= *K EIUYBGSGFCI< BKFDCTCDFIEBGKD< TGKDK DH IEDKFG DK ^RD NRDCGK BU\VDKD< CDIHBbI;I< TICI CDEGCX;IC DH TG;DC UBHBFIC aB<TIKGS TRD< DK DH BUIVBKICBG BK;MVDKI "HHITIS IKFBVRG ;BG< ;DHFCRDKGS EGK ^RBDK <D I<GEBIYIK HI< ICUI< TGCFI;I< TGC HG< ICE\KVDHD<S aIYMI BKFDCWDKBX;G I NIWGC ;D HG< D<TIdGHD< DK DH ;CIUI ;D 0IZIUICEI= *K ERIKFG I HI $CBKB;I;S HIFCBNIEBIH URD<FCI I RK ;BG< ECB<FBIKG EGK FCD< EIYDbI< B;_KFBEI<S UBDKFCI< HI B<GULCNBEICDTCD<DKFI I HI< FCD< TDC<GKI< ;D HI $CBKB;I; EGUG FCD< NBVRCI< aRUIKI< <DUDZIKFD<=$IKFG RKI EGUG GFCI NLCURHIS TCGaBYB;I< DcTCD<IUDKFD TGC HI BVHD<BI EIFLHBEIS FDKMIKRK <DKFB;G DUBKDKFDUDKFD ;B;\EFBEGS TRD< TDCUBFMI DcTHBEIC ;D NGCUI U\< ;BCDEFI I HITGYHIEBLK IRFLEFGKI D<FD EGUTHDZG UB<FDCBG ECB<FBIKG=

3DCG D<FI CDKGWIEBLK BEGKGVC\NBEI FIUYB_K NRD RK WDaMERHG ;D DcTCD<BLK ;D HG<0RCIEI<S ;D<EDK;BDKFD< ;D HI KGYHDbI BKEIS ^RD I FCIW_< ;D HI BUIVDK CDINBCUIYIK <RTCD<FBVBG <GEBIH Q <R< WIHGCD< ERHFRCIHD<S KG <GHG IKFD HI UI<I ;D HI TGYHIEBLK BK;MVDKI<BKG FIUYB_K IKFD HG< ;BWDC<G< D<FIUDKFG< ;DH TG;DC WBCCDBKIHS TCGTBEBIK;G HG ^RD <DaI HHIUI;G [CDKIEBUBDKFG BKEI]S ^RD IHEIKbL I HI TGD<MIS FDIFCGS TBKFRCI Q ICFD< <RKXFRICBI<= *K TBKFRCI <D CDIHBbICGK KRUDCG<G< CDFCIFG< ;D HG< CDQD< BKEI< Q EGQI< GTCBKED<I< IK;BKI<S I<M EGUG ;DH CD<FG ;D HI _HBFD HGEIHS <BDUTCD IFIWBI;G< EGK WD<FBUDKXFI< Q IFCBYRFG< TCDaB<T\KBEG<l UREaI< ;D D<FI< GYCI< NRDCGK ;D<FCRB;I< FCI< CDTCBUBC<DHI CDYDHBLK ;D $RTIE 'UICR DK fsj@S TRD< NRDCGK EGK<B;DCI;I< URD<FCI< ;D HI CD<B<XFDKEBI IRFLEFGKI I HI IRFGCB;I; ;D HI 0GCGKI=

*K ERIKFG I HG< ICFB<FI< ;D D<FD <BVHG `O""" DK 0RbEG ;DYDUG< UDKEBGKIC TGC HIEIHB;I; ;D <R< GYCI Q .ICEG< 9ITIFI:IEFBWG DKFCD fshj Q fssp>= 3IEaDEG ;D<FIEI TGC HI #DCBD ;D HI WB;I ;D #IK 'VR<FMK S^RD <D EGK<DCWI aGQ DK DH EGKWDKFG ;D HI UB<UI GC;DK ;D HI EBR;I; ;D +BUIS Q ^RDD<F\ NGCUI;I TGC FCDBKFI Q GEaG HBDKbG< ERQI EGUTG<BEBLKS IRK^RD ;DTDK;D ;D VCIXYI;G< NHIUDKEG<S BKFCG;RED KGFI< IRFLEFGKI< EGUG DH TIB<IZD RCYIKG ;D 0RbEG= 3GC<R TICFD 9ITIFIS DH TBKFGC U\< INIUI;G ;D D<FI EDKFRCBIS CDIHBbL HI <DCBD ;D HI< +DFIKMI< +IRCDFIKI< ;D HI EIFD;CIH ;D 0RbEGS EGUTRD<FI TGC EBKERDKFI HBDKbG< DK HG< ^RD;GUBKI HI TBKEDHI;I C\TB;I Q RKI TGHBECGUMI DK YI<D ;D IbRHD< Q CGZG<= 3GC kHFBUGS;D<FIEICDUGS DK HG< ^RD URD<FCI RKI FDK;DKEBII HI UBKBIFRCBbIEBLK Q RKI< TDC<TDEFBWI< BKVDKRI<= #R HDKVRIZD <D UIKFDK;C\ DKUIKG< ;D ICFB<FI< IKLKBUG< aI<FI HI HHDVI;I ;D HI &DTkYHBEIS I FCIW_< ;D GYCI< ;DTD^RDdG NGCUIFG Q ;D RKI BEGKGVCINMI CDHBVBG<I TGTRHIC=

h= %$&%# 0*,$&%# '&$6#$"0%#

*K DH DcFDK<G FDCCBFGCBG ^RD EGKNGCUIYI DH WBCCDBKIFG ;D 3DCkS I;DU\< ;D HG< NGEG<TCBWBHDVBI;G< ;D +BUI Q 0RbEGS HI TC\EFBEI TBEFLCBEI FRWG EITMFRHG< ;D <BVKBNBEIFBWIBUTGCFIKEBI DK GFCI< EBR;I;D< Q CDVBGKD<S D<TDEBIHUDKFD ;D<FIEIYHD DK DH EI<G ;D HI'R;BDKEBI ;D 0aICEI<S \UYBFG D<TIEBIH ^RD EGBKEB;D EGK HI IEFRIH -GHBWBI= '^RM HI

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fjf

.*+0!%& 3/&*9 )* !%+786,= +' *,$&')' )*+ O"&&*1 .%&0"++% *, 3%$%#6

:)*$'++*> :fsfj>= .8#*% )* './&"0'S .')&")

EI;G DK 3GFG<M URQ ITDVI;G I HI D<F_FBEI ;D 9RCYIC\K Q IRFGC ;D GYCI< ;D VCIKEIHB;I; EGUG #IK 2CIKEB<EG #GHIKG S #IK 'KFGKBG ;D 3I;RI Q #IK 2CIKEB<EG ;D '<M< S^RD <D EGK<DCWIK DK DH .R<DG ;D HI .GKD;I ;D 3GFG<M=

!DCD;DCG ;D HI TC\EFBEI TBEFLCBEI ;D D<FG< UID<FCG< D< .DHEaGC 3_CDb !GHVRMKSKIEB;G DK 0GEaIYIUYI aIEBI fii@ Q IEFBWG DK HI EBR;I; ;D 3GFG<MS ;GK;D D<FIYHDEBL<R FIHHDCS aI<FI fs?hS IdG DK DH ^RD NBCUL <R kHFBUI <DCBD= *<FD ICFB<FIS RKG ;D HG< U\<BUTGCFIKFD< TBKFGCD< ;DH WBCCDBKIFG TDCRIKGS ;D<ICCGHHI RKI GYCI URQ TDC<GKIH EGKEGUTG<BEBGKD< DK HI< ^RD DUTHDI EGUG CDNDCDKEBI VCIYI;G< NHIUDKEG<S TDCG ^RDIHFDCI EGK TDC<GKIZD< WD<FB;G< EGK TCDK;I< FMTBEI< ;DH IHFBTHIKG Q EGK ;DFIHHD< IKDEX;LFBEG< ;DH TIB<IZD Q KIFRCIHDbI< URDCFI<S FG;G DHHG CDIHBbI;G EGK VCIK UBKREBG<B;I;=$IUYB_K <GK EICIEFDCM<FBEG< HG< FBTG< aRUIKG< ^RD CDTCD<DKFIS Q ^RD <D ;DNBKDK TGC<DC NBVRCI< ;D ERDCTG URQ EGCFGS EGK CG<FCG< IKVRHG<G< Q ;DUIECI;G<S Q GZG< aRK;BX;G<= *K ERIKFG I <R FDU\FBEIS NRK;IUDKFIHUDKFD CDHBVBG<IS D<F\ ;GUBKI;I TGC NBVRCI<;D I<EDFI<S D<EDKI< ;D UBHIVCG< Q TI<IZD< ;D HI aB<FGCBI <IVCI;I= #R FCIQDEFGCBI TCGNDX<BGKIH D<F\ UICEI;I TGC ;G< DFITI< NRK;IUDKFIHD<5 HI TCBUDCI <D TCGHGKVI aI<FI fs@jQ <D EICIEFDCBbI TGC RK IEDKFRI;G EHICG<ERCG Q RKI TIHDFI ;D FGKG< ITIVI;G<S ;D D<FI_TGEI TG;DUG< UDKEBGKIC <R GYCI #IK 3D;CG ;D 'HE\KFICI I<B<FB;G TGC 0CB<FG ;DH

.R<DG ,IEBGKIH ;D 'CFD ;D +I 3Ib= ' TICFBC ;D D<FD IdG ;D fs@j <R TIHDFI <D IEHICIQ I;^RBDCD VCIK WICBD;I;S CDIHBbIK;G GYCI< <GYCD<IHBDKFD< EGUG *H ;D<EIK<G DK HI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fj?

aRB;I I *VBTFG S FIUYB_K DK DH .R<DG ,IEBGKIH ;D 'CFD ;D +I 3IbS Q VCIK;D< EGUTGX<BEBGKD< EGUG HI #DCBD ;D HI .DCED; ;D #RECD= "VRIHUDKFD <GK CD<DdIYHD< *H ZRBEBG NBKIH ;D HI BVHD<BI ;D #IK +GCDKbG ;D 3GFG<M Q +I DKFCI;I ;DH OBCCDQ .GCEBHHG ;DH.R<DG ;D 'U_CBEI ;D .I;CB;=

+I ITGCFIEBGKD< U\< <BVKBNBEIFBWI< ;D HI D<ERDHI TGFG<BKI EGKEHRQDK EGK HI GYCI;DH TBKFGC ECBGHHG 7I<TIC .BVRDH ;D -DCCMG :IEFBWG DKFCD fspA Q fsi?> Q DH BK;BG +RB<,BdG :IEFBWG DKFCD fs?@ Q fsA@>= +I< TCBUDCI< EGUTG<BEBGKD< ;D -DCCMG <D EICIEFDCBXbIK TGC <R ;DTDK;DKEBI ;D HI D<F_FBEI ;D !GHVRMK EGUG D< DH EI<G ;D <R 3IFCGEBKBG ;D #IK eG<_ ;D HI BVHD<BI ;D #IKFI .LKBEI ;D 3GFG<MS BKNHRDKEBI ^RD UIFBbI DK <R< kHFBUI<GYCI< EGUG TGC DZDUTHG HI 0GCGKIEBLK ;D HI OBCVDK ^RD <D EGK<DCWI DK DH .R<DG,IEBGKIH ;D 'CFD ;D +I 3Ib= 3GC <R TICFDS DH TBKFGC Q D<ERHFGC +RB< ,BdGS DcTCD<L DK<R< GYCI< DH BUIVBKICBG BK;MVDKIS FIKFG FDU\FBEI EGUG EGKEDTFRIHUDKFDS EGK CDTCDX<DKFIEBGKD< TGTRHICD< EGUG <R EGKGEB;I OBCVDK ;D #IYIQI ;DH .R<DG 0I<I ;D HI.GKD;I ;D 3GFG<MS BUIVDK ;D IHFIC ^RD <D CDTCD<DKFI DK <R UICEG IC^RBFDEFLKBEGEGCCD<TGK;BDKFDS CD<IHFI;G WD<FBUDKFI< Q IEED<GCBG< I FCIW_< ;DH DUTHDG ;DH YCGEIFDIX;G=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fjp

#*+*00"J, )* ".47*,*#

-*&,'&)% -"$$"= 0&"#$% &*#80"$')% :0=fi@p>= "7+*#"' )* +'0%.3'P6'S '&*q8"3'

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fjh

*<FI GYCIS ZRKFG EGK HI OBCVDK EGK DH ,BdG ;DH IHFIC UIQGC ;D D<FI UB<UI BVHD<BIS<GK ;G< ;D HI< UDZGCD< DcTCD<BGKD< ;DH ICFD TBEFLCBEG ;D -BFFB= *H ICFB<FI <D aI EDKFCIX;G ;D NGCUI DcEHR<BWI DK HI CDTCD<DKFIEBLK ;D HI NBVRCI aRUIKIS CD;REBDK;G I HIUMKBUI DcTCD<BLK DH TIB<IZD Q HG< ;DFIHHD< IEED<GCBG< KDED<ICBG< TICI DKUICEIC DHIEGKFDEBUBDKFG= 0CB<FG ITICDED <DUB;D<KR;G CDTCD<DKFI;G EGK RK <RIWD EGKFCITG<XFGS ERYBDCFG EGK RK TIdG ;D TRCDbI YHIKEG Q UIKFG CG<IS TGCFIK;G DK RKI ;D <RUIKG< HI YIK;DCGHI ;D HI CD;DKEBLK= %FCG< ;D HG< CI<VG< ;DNBKB;GCD< ;DH ICFD ;D -BFFB^RD TG;DUG< <DdIHIC DK D<FI GYCI <GK5 HI NRDCbI ;DH ;BYRZGS DH EIKGK IHICVI;GS DH;RHED Q YDHHG CG<FCG ;D 0CB<FGS HG< DcIVDCI;G< Q IKVRHG<G< THBDVRD< ;D HG< CGTIZD<^RD HD ERYCDKS Q DH DUTHDG ;D <RIWD< FGKG< ^RD KG YR<EIK VCIK;D< EGKFCI<FD< TBEFLXCBEG< <BKG UGWDC IH D<TDEFI;GC aIEBI HI D<TBCBFRIHB;I; CDHBVBG<I=

+*%,'&)% e'&'."++%= ".3%#"0"J, )* +' 0'#8++' ' #', "+)*2%,#% :fipi>= 0%,O*,$% )* +%# )*#0'+9%#S +".'

eICIUBHHG D< DH TBKFGC U\< <GYCD<IHBDKFD ^RD FCIYIZI DK 3DCk DK HI< TCBUDCI< ;_EI;I<;DH <BVHG `O""S D<FIK;G ;GERUDKFI;I <R TCD<DKEBI TCBUDCG DK HI EBR;I; ;D $CRZBHHG DKfifg Q HRDVG DK 0IZIUICEI DK fip?S TICI D<FIYHDEDC<D DK +BUI DK fipi= #R GYCI D<DH UDZGC DcTGKDKFD ;D HI EGKWBWDKEBI ;D HDKVRIZD< ^RD EICIEFDCBbI HI TBKFRCI ;D D<FDUGUDKFGS TRD< DK DHHI <D NRK;DK DH VR<FG BFIHBIKB<FI FG;IWMI BUTDCIKFD DK HI 0BR;I;;D HG< &DQD<S EGK RK FCIFIUBDKFG EHICG<ERCB<FI ;D EBDCFG< TDC<GKIZD<S EGKECDFIUDKFD;DH <IKFG FBFRHIC= +I D<EDKI D< TCD<DKFI;I IH D<TDEFI;GC TGC RK \KVDHS <BFRI;G DKTCBUDC THIKG Q aIEBI HI Bb^RBDC;IS DKUICE\K;G<D ;DKFCG ;D RKI D<FCREFRCI IC^RBFDEFLXKBEI= $IUYB_K I HI Bb^RBDC;I ;D HI EGUTG<BEBLKS HI OBCVDK BUTGKD HI EI<RHHI I #IK"H;DNGK<GS UBDKFCI< ^RD I HI ;DCDEaI RKI VCIK EGUBFBWI ;D <IKFG< <D RYBEI DK HI KIWD;DH FDUTHGS FG;G IEGUTIdI;G TGC RK CGUTBUBDKFG ;D VHGCBI EGK \KVDHD< Uk<BEG<= +I<NBVRCI< <GK ;D EIKGK IHICVI;G Q TG<D< RK FIKFG NGCbI;I<S EGK RK CBEG EGHGCB;G DKEICKIEBGKD< Q FDHI<S ;GK;D IHFDCKIK FGKIHB;I;D< NCMI< Q E\HB;I<=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fjA

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fji

)"*7% q8"#3* $"$%= '&"*#= #', e%#/ 1 +' O"&7*, *, -8#0' )* 3%#')' :#*&"* )*+ 9%)6'0%> :fijf>= .8#*% )*+ 3'+'0"% '&9%-"#3'+S0890%

*<FI GYCI NGCUI TICFD ;D HI <DCBD ^RD CDIHBbL )BDVG qRB<TD $BFG TICI HI EIFD;CIH ;D0RbEG DK fijf= *H VCRTG ;D TBKFRCI< CDHIEBGKIYI <BUYLHBEIUDKFD HI< TIC\YGHI< ;D0CB<FG EGK HG< <BVKG< ;DH bG;MIEG= #R GCBVDK D<FIYI DK HI <DCBD ;DKGUBKI;I *UYHDUIX FI *WIKV_HBEI NBCUI;I TGC !IK< -GH ^RD NRD VCIYI;I DK 'UYDCD< DK fAjAS ;BNRK;B_KX;G<D TGC *RCGTI Q 'U_CBEI=

'CBD< EGCCD<TGK;D IH UD< ;D UICbG D BKBEBI HI <DCBD EGCCD<TGK;B_K;G<D EGK HI

HHDVI;I ;D HI TCBUIWDCI QS DK TICIHDHGS EGK DH EGUBDKbG ;D HI WB;I ;D 0CB<FG= *H ERI;CGCDTCD<DKFI I eG<_ Q .ICMI DK YR<EI ;D TG<I;I DK -DH_K= *H EGC;DCG bG;BIEIH ;D 'CBD<DK HI TICFD <RTDCBGC ;DH ERI;CG IHR;DS FIUYB_KS IH 0GC;DCG 3I<ERIH= *H FDcFG BKNDCBGCIHR;D IH DWIKVDHBG ;D #IK +REI<S EITMFRHG ?=

*H ERI;CG <D IHDZI DK HI EGUTG<BEBLK Q DK HI< BU\VDKD< ;D HI< EGK<FIKFD< ;D HITBKFRCI ERb^RDdI ITICDEBDK;G TIB<IZD< Q FBTG< NHIUDKEG<S IC^RBFDEFRCI< Q TRDCFG ;D'UYDCD< QS TGC FIKFGS URD<FCI RKI ;DTDK;DKEBI FGFIH ;D HI< NRDKFD< VC\NBEI< ^RDBK<TBCICGK I qRB<TD $BFG=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fjs

',J,".% 089q8*P%= ,8*#$&' #*P%&' )*+ &%#'&"% )* 3%.'$':#"7+% `O""">= 0%,O*,$% )* #',$' 0+'&'S '1'080!%

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fjj

#BFRI;I DK DH EGCG IHFG ;DH EGKWDKFG EGK<FBFRQD RKI ;D HI< WDC<BGKD< U\< UGKRXUDKFIHD< EGK<DCWI;I< ;D D<FI FDU\FBEI IH DKEHIWIC<D ;DKFCG ;D RK UICEGXCDFIYHG EGKTRDCFI< FIHHI;I< Q ;GCI;I<=

*H ERHFG I HI OBCVDK ;D 3GUIFI <RCVD DK DH DKFGCKG ;DH HIVG $BFBEIEI DK DH TRDYHG;DH UB<UG KGUYCD ERQI <BVKBNBEIEBLK DK HDKVRI IQUICI D<F\ CDHIEBGKI;I EGK RKTRUI NDCGb= "KFCG;REB;G <R ERHFG TGC HG< ;GUBKBEG<S TCGKFG <D I<BUBHL EGUG TCGFDEFGXCI ;D BK;MVDKI< Q KDVCG<= *K GCBVDK <D FCIFI ;D RKI OBCVDK ;DH &G<ICBG ^RD <D ;GFI ;D<MUYGHG< IK;BKG< EGUG <GK HG< FGEI;G< ;D THRUI< URHFBEGHGCD< FIKFG ;DH KBdG EGUG;D HI UI;CD= $IUYB_K D< <BVKBNBEIFBWG DH aIHG HRUBKG<G ^RD TG;CMI CDHIEBGKIC<D EGK DH<GH= *K DH ERI;CG ;D 'QIEREaG <D CDTCD<DKFI DH IHFIC EGK HI BUIVDK GCBVBKIH ;GK;D HIFCI<EDK;DKEBI <D EGKECDFI EGK HI TCD<DKEBI ;D \KVDHD< ^RD CDFBCIK DH EGCFBKIZD TICITDCUBFBC HI WB<BLK ;DH D<TDEFI;GC Q ^RD <G<FBDKDK HI EICFDHI IRFDKFBNBEI;GCI ;D HI;DWGEBLK= +G< ZICCGKD< Q EDKDNI< ;D NHGCD< EGUTHDFIK DH D<TIEBG TBEFLCBEG= +I BEGKGXVCINMI ;D HI OBCVDK ;D 3GUIFI <D NBZL DK FGCKG I fis@ Q EGK URQ D<EI<I< WICBIKFD< <DDcFDK;BL TGC FG;G DH WBCCDBKIFG= *H _cBFG D<FRWG HBVI;G I HG< KRUDCG<G< VCIYI;G< ^RDEBCERHICGK ;D HI BUIVDK=

.*+0!%& 3/&*9 )* !%+786,= #', 3*)&% )* '+04,$'&' '#"#$")% 3%& 0&"#$% :fs@f>= .8#*% ,'0"%,'+ )* '&$*S +' 3'9

*<FI GYCI D< RK EHICG DcTGKDKFD ;D HI TCBUDCI _TGEI ;D !GHVRMKS HI ERIH <D ;D<IXCCGHHI I HG HICVG ;DH kHFBUG FDCEBG ;DH <BVHG `O"" Q TCBUDCG< IdG< ;DH `O"""= +I D<EDKICDTCD<DKFI DH UGUDKFG DK DH ^RD 0CB<FG CDEGKNGCFI I D<FD <IKFG NCIKEB<EIKG ;\K;GHD;D EGUDC EGK RKI EREaICI ;D UI;DCIS ^RD HG< BKWD<FBVI;GCD< .D<I Q 7B<YDCF aIKB;DKFBNBEI;G EGK HG< R<G< HGEIHD<= +I EGUTG<BEBLKS ^RD TCD<DKFI HI <IFRCIEBLK D<TIEBIHEICIEFDCM<FBEI ;D !GHVRMKS <D EGUTHDFI EGK HI NBVRCI ;DH \KVDH ^RD TGCFI DH THIFG ;DWBIK;I<S DH IKVDHBHHG ;D HI TICFD <RTDCBGC EGK HG< IFCBYRFG< ;DH <IKFGS Q HG< GFCG< ;G< ;DHI bGKI BKNDCBGC ^RD ZRDVIK EGK HG< BK<FCRUDKFG< ;D TDKBFDKEBI= +I GYCI <D ;DNBKD TGCRK UICEI;G EHICG<ERCGS DH CDIHB<UG DK HI CDTCD<DKFIEBLKS HI TBKEDHI;I <RDHFI Q HI DcXTCD<BWB;I; ;D HG< TDC<GKIZD<S HI ERIH D< IEDKFRI;I TGC UD;BG ;D RK EIKGK CDEGCFI;GQ IKEaI< NIEEBGKD<S CI<VG< FG;G< DHHG< ^RD ;DNBKDK HI TC\EFBEI TBEFLCBEI FIK TDC<GKIH;D D<FD ICFB<FI=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fjg



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fg@

0&"#$J-'+ +%9',%= &*$&'$% )*+ O"&&*1 )%, ',$%,"% .',#% )* O*+'#0%S 0%,)* )* #83*&8,)' :fsAj>= .8#*% )* '&$* &*+"7"%#% )*+' -'#6+"0' 0'$*)&'+S +".'

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fgf

*H D<TMCBFR BHR<FCI;G ^RD BUTCDVKL HI IEFBWB;I; TGHMFBEI Q ERHFRCIH ;D HI EBR;I; ;D+BUI DK HI <DVRK;I UBFI; ;DH <BVHG `O""" ;GUBKI FIUYB_K HI EGKEDTEBLK ;D D<FI GYCI=#R IRFGCS 0CB<FLYIH +GbIKGS DH TBKFGC ;D UIQGC TCD<FBVBG ;D HI EITBFIH DK D<FG< UGXUDKFG<S ;I URD<FCI ;D <R EIHB;I; Q <IYDC aIEDC DK DH V_KDCG ;DH CDFCIFGS ;D VCIKTCD;BEIUDKFG DK D<FD UGUDKFG EGUG BK<FCRUDKFG ;D TCGTIVIK;I Q <MUYGHG ;D TGX;DC= +I TDC<GKIHB;I; ;DH WBCCDQ Q HI< DcEDHDKEBI< ;D <R VGYBDCKG <GK DH I<RKFG TCBKEBXTIH ;D HI GYCIS EGK<FBFRB;I TGC RK NGK;G ;GK;D DH EGK;D EGK <R <_^RBFG <RTDCWB<I HI<HIYGCD< ;D CDEGK<FCREEBLK ;D HI 0IFD;CIH HBUDdIS <DCBIUDKFD ;IdI;I FCI< DH <DM<UG ;Dfshi= *K TCBUDC THIKGS Q TCD<B;B;G TGC RK EGCFBKIZD ;D BKFDK<G EGHGC CGZGS <D <BFkI HIDHDVIKFD NBVRCI ;DH UIK;IFICBGS WD<FB;G EGK FCIZD IbRH Q CBEG< YCGEI;G<S UBDKFCI< ^RDDK DH \KVRHG BKNDCBGC ;DCDEaG RKI EICFDHI EGK CGEIHHI KG< KICCI <R< UDCBFGCBI< IEEBGXKD<S IEGUTIdI;I< ;D GYZDFG< TCGTBG< ;D <R EICCDCI Q EGK;BEBLK <GEBIH=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fg?

'3/,)"0* )%08.*,$'+

"= 2&',0"#0% )* 98&-'&4, 1 +".'f

!GQ <D <IYD ^RD 9RCYIC\K BKBEBL <R< EGKFIEFG< EGK 'U_CBEI DK HI ;_EI;I ;D HG<IdG< fip@Xh@S KG <LHG TGC <DVRBC RKI EG<FRUYCD aIYBFRIH DK HG< ICFB<FI< ;D #DWBHHIS<BKG TGC EGKFIEFG< NIUBHBICD< ^RD TGC I^RDHHG< IdG< FDKMI DK HI< "K;BI<= ,G NRD <RCDHIEBLK EGK 'U_CBEI GYHBVI;I TGC HI ;B<UBKREBLK ;D <R<FIKEBG<G< EGKFCIFG< ICFM<FBEG<^RD <D ITCDEBIK DK #DWBHHI I TICFBC ;D fih@ EGK UGFBWG ;D HI< VRDCCI< DK HI< ^RD <DDKNCI<EL *<TIdI Q HI UIHI VD<FBLK DEGKLUBEI ;DH 0GK;DX)R^RD ;D %HBWICD<S ^RDCDWDCFBDCGK VCIWDUDKFD DK #DWBHHIl <DVkK HG< ;GERUDKFI;G< D<FR;BG< ;D )GUMKVRDb%CFBb= 9RCYIC\K D<FIYI DK DH ITGVDG ;D <R ICFD ERIK;G EGUBDKbI <R< FCIFG< IUDCBEIXKG<l I ;BNDCDKEBI ;D HG< ICFB<FI< KG EGUTDFBFBWG< ;D HI EBR;I; Q ^RD <D aIYMIK D<TDEBIXHBbI;G DK CDUBFBC TBKFRCI< TICI 'U_CBEI :EIS HG EBDCFG D< ^RD 9RCYIC\KSKGUYCI;G TBKFGC ;DH CDQ DK fipA L fipiS FDKMI RK TCD<FBVBG DK #DWBHHI Q KG <D ;D;BELI DKWBIC VCIK;D< HGFD< ;D HBDKbG< ;D D<EI<I EIHB;I; TICI EHBDKFD< TGEG DcBVDKFD<= *HTCGND<GC #FI<FKQ EGK<B;DCI ^RD ;DYBL IKBUICHD [===HI DcFDK<BLK ;D <R NIUI I FBDCCI<HDZIKI<S U\< ^RD HI CDFBCI;I I RKI TCGWBKEBI D<EGK;B;I]=

+I ;GERUDKFIEBLK ITGCFI;I TGC +LTDb .ICFMKDbS Q .ICMI +RB<I 0IFRCHI ;DURD<XFCIK ^RD HG< DKWMG< IH ,RDWG .RK;G NRDCGK <BDFDS BKBEBI;G< DK fipiXps HHDVIK aI<FIfiAgS TDCG TR;BDCGK <DC U\<S ;I;I HI EG<FRUYCD ;D EGKNBIC ERI;CG< I EITBFIKD< ;DYICEG< TICI ^RD HG< WDK;BDCIK DK HI< "K;BI<S Q HRDVGS IH CDVCD<G ;DH WBIZDS HD< TIVI<DKI HG< ICFB<FI< ;D<EGKFIK;G HI EGCCD<TGK;BDKFD EGUB<BLK= )D HG< <BDFD DKWMG< aDEaG<TGC 9RCYIC\K ERIFCG NRDCGK TICI +BUIS <DVkK HI IEFRIH ;GERUDKFIEBLKS Q RKG <LHG <DaBbG YIZG EGKFCIFG TCDWBGS DH ;DH UGKI<FDCBG ;D HI *KEICKIEBLK EGK ;BDb aB<FGCBI< ;DHI WB;I ;D HI OBCVDK .ICMI Q WDBKFBERIFCG #IKFI< OMCVDKD<=== ,G D< ;D<TCDEBIYHD DHKkUDCG ;D TBKFRCI< ;D 9RCYIC\K DK +BUI IKFD< ;D fiA@ Q KG D< ;D DcFCIdIC ^RD HIFDU\FBEI TGC _H ;D<ICCGHHI;IS I<M EGUG <R D<FBHG <GHDUKD Q <DKEBHHG I HI WDbS ;DZI<DaRDHHI< DK HI TBKFRCI CDHBVBG<I= ';DU\< HG< TBKFGCD< ;D #DWBHHI BKNHRB;G< ;BCDEFIUDKFDTGC HI< UIKDCI< ;D 9RCYIC\KS RKG< ;B<EMTRHG< Q GFCG< BUBFI;GCD<S KG ;DZICGK ;D DcTGCXFIC ERI;CG< DK D<G< UB<UG< IdG<S FG;G HG ERIH EGKFCBYRQL I EGKNGCUIC D<D VR<FGICFM<FBEGS ^RBb\< U\< ITCDEBIYHD DK ._cBEGS TDCG FIUYB_K DK 3DCk= *K +BUI <D aBEBDCGKEGTBI< ;D D<FI< GYCI< TICI HI EBR;I; Q ;B<FBKFI< BVHD<BI< G EGKWDKFG< ;DH BKFDCBGCl DK0RbEG WICBG< UID<FCG< BKEGCTGCICGK I <R< ECDIEBGKD< HI< IEFBFR;D< TIR<I;I< ;D HG<TDC<GKIZD< ;DH .ID<FCGS FIKFG DK <IKFG< BFBKDCIKFD< EGUG DK \KVDHD< Q ECREBNBEI;G<SHG ^RD <D DcFDK;BL I CDUGFG< HRVICD< ;D HI ;BHIFI;I VDGVCINMI IK;BKI= ===*K DH <BVHG`O""" HBUDdGS TBKFGCD< EGUG 2CIKEB<EG .ICFMKDb Q 8CCDFI FG;IWMI BUBFIYIK EGK<EBDKXFDUDKFD DH D<FBHG ;D 9RCYIC\KS EGK<B;DCI;G DKFGKED<S ^RBb\S EGUG DcTCD<BLK ICFM<FBEI;D RKI _TGEI ;D TCD<FBVBG G TGC TDCFBKIb DUTDdG ;D HI EHBDKFDHI= 2RDCGKS DK NBKSDWB;DKFD< HG< BKNHRZG< ^RD TCG;RZG DK HI TBKFRCI WBCCDBKIH DH ICFD ;DH .ID<FCG ;D

f= -*&,'+*# -'++*#$*&%#S eGCVD=] +I BKNHRDKEBI aB<TIKI]= *K ''=OO= 3BKFRCI DK DH WBCCDBKIFG ;DH 3DCk= +BUIS -IKEG ;D 0C_;BFG ;DH 3DCkS :?ƒD;=>S ?@@?S 3\V<= ss Q sg=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fgp

2RDKFD ;D 0IKFG<l Q <B YBDK KG TRD;D EGK<B;DC\C<DHD DH CD<TGK<IYHD ;D HI TBKFRCIaB<TIKGIUDCBEIKIS FIUTGEG <D TRD;DK BVKGCIC <R< ITGCFD< Q aRDHHI< DK HI DWGHREBLK;D D<FI TBKFRCI=

""= -'#"+"% )* #',$' 0&89 38.'0'++'% 1 +' )*0%&'0"J, )* +'0'$*)&'+ )* 0890%?

!IEBI fig@ EGUBDKbI #IKFI 0CRb HI ;DEGCIEBLK ;D HG< URCG< ;DH FCIK<DTFG ;D HI0IFD;CIH ;DH 0RbEG= #GK RKI <DCBD ;D ERI;CG< ;D VCIK FIUIdG Q ;BWDC<G< FDUI<SDKEICVG ;DH %YB<TG .GHHBKD;G DK RK D<NRDCbG DKGCUD Q NCREFMNDCG ^RD aI ;DZI;G DKD<FD UGKRUDKFG RK WDC;I;DCG UR<DG ;D HI< GYCI< ;DH BK;BG TBKFGC=

3GC HI NBCUI ;D ;G< ;D HG< ERI;CG<S RKG DK EI;I HI;G ;DH FCIK<DTFGS <D TRD;DB;DKFBNBEIC FG;I HI GYCI EGUG ;D -I<BHBG ;D #IKFI 0CRbS GYCI ^RD TGC GFCG HI;GEGCCD<TGK;D IH D<FBHG ;D D<FD UID<FCG= #DVRCIUDKFD DH %YB<TG .GHHBKD;G ;D<DL ;IC I<R BVHD<BI EIFD;CIH DH D<THDK;GC ^RD HD EGCCD<TGK;MI Q ^RD aIYMI WB<FG CDIHBbI;G DK HI<VCIK;D< EIFD;CIHD< D<TIdGHI<S ERQI ;DEGCIEBLK HRED UIZD<FRG<I Q YDHHI IkK aGQ ;MI=*K EICFI ;D j ;D ZRKBG ;D figiS .GHHBKD;GS GCVRHHG<GS IWB<I IH CDQ ^RD aI HHDKI;G HIBVHD<BI EGK TBKFRCI< ;D UICEG< ;D ED;CGS FIHHI;G< Q ;GCI;G<S EGK EGCGKIEBLK Q CDUIXFD< ;D HG UB<UG= #IHWG HI< EIFD;CIHD< ;D ._cBEGS DH CD<FG ;D HI< aB<TIKGIUDCBEIKI<aIK <B;G YI<FIKFD ;D<UIKFDHI;I< DK <BVHG< TG<FDCBGCD< Q D< HI ;DH 0RbEG HI kKBEI ^RDEGK<DCWI HI ;DEGCIEBLK EGUTHDFI DK <R< KIWD< Q EITBHHI<=

0GUG D< <IYB;GS HI EIFD;CIH <D aIYMI EGKEHRB;G Q EGK<IVCI;G DK fiij EGK VCIKD<NRDCbG ;D FG;G< HG< TCDHI;G< IKFDCBGCD< I D<I NDEaI Q DK HI _TGEI DK ^RD .GHHBKD;GHHDVL IH 0RbEG IkK KG ;DYMI D<FIC FGFIHUDKFD ;DEGCI;I = +I CDIHBbIEBLK ;D HI< TBKFRCI<;DH FCIK<DTFGS I ZRbVIC TGC HI< NDEaI<S ;RCL ;D<;D figf aI<FI figpS G <DI EDCEI ;D FCD<IdG<= *H EGKZRKFG EGK<FI ;D EIFGCED HBDKbG<=

+G< FDUI< <D ;BWB;DK DK HG< ;G< YCIbG< ;DH ECREDCG ;D HI <BVRBDKFD UIKDCI5 YCIbG ;DHDWIKVDHBGl DK DH FD<FDCGS #IKFI -\CYICI Q /cFI<B< ;D #IKFI 0IFIHBKI ;D #BDKIl IH EDKFCG ;DHUB<UG *H -RDK 3I<FGC EGK HG< DWIKVDHB<FI<l ZRKFG I _<FD #IKFI $DEHI Q $CIK<WDCYDCIEBLK;D #IKFI $DCD<I= *K HG< EG<FI;G< ;DH YCIbG ;DH DWIKVDHBG5 'TICBEBLK ;D HI OBCVDK I #IK2DHBTD ,DCBS Q +I OBCVDK DKFCDVIK;G HI EI<RHHI I #IK "H;DNGK<G=

#BK HRVIC I ;R;IS HG< ;G< UDZGCD< HBDKb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dIK= 8KI WBDZDEBFI ^RDI<GUI TGC HI Bb^RBDC;I EGK<FBFRQD RK ICUGKBG<G FG^RD ;D VCIEBI Q ;GKG<RCI= %FCGFIKFG TG;DUG< ;DEBC ;DH ERI;CG ;D #IK 2DHBTD ,DCBS ERQI< UDZGCD< NBVRCI< <GK DH

?= )* .*#'S eG<_ Q 7"#-*&$S $DCD<I= !B<FGCBI ;D HI TBKFRCI ERb^RDdI = -RDKG< 'BCD<S"K<FBFRFG ;D 'CFD 'UDCBEIKG D "KWD<FBVIEBGKD< *<F_FBEI<S fgi?S 3\V<= ffjXf?p=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fgh

#IKFG Q DH \KVDH ^RD HD IEGUTIdI= *K HI D<EDKI DTB<L;BEI ;D HI ERCIEBLK ;D RKDK;DUGKBI;G <D WD HI DKGCUD IKIHGVMI ^RD DcB<FD DKFCD D<FD ERI;CG Q DH ;D #IK"VKIEBG ;D HI 0GUTIdMI= *K D<FD ERI;CG TG;DUG< WDC DK HI ;DCDEaI BKNDCBGC DHCDFCIFG ;DH ;GKIKFDS RK EIYIHHDCG ZGWDKS ^RBDK <DVkK 7ICEMI D< ;GK )BGKB<BG 'QIKbQ 8CDFIS IRK^RD <R< NIEEBGKD< TRD;DK EGBKEB;BC EGK HI< ;DH <GYCBKG ;DH %YB<TG.GHHBKD;G=

'UYG< ERI;CG<S DH ;D #IK 2DHBTD Q DH ;D #IK "H;DNGK<GS DKFCGKEIK HI TBKFRCI ;D-I<BHBG ;D #IKFI 0CRb EGK HI D<TIdGHI ;D <R _TGEIS FIKFG ;D D<ERDHI <DWBHHIKI EGUGUI;CBHDdI= *H ;BWB;BC HI D<EDKI DK ;G< TB<G<S HG< CGUTBUBDKFG< ;D VHGCBIS DFE=S KG<HHDWIK I CDEGC;IC HI TBKFRCI ;D .RCBHHGS 9RCYIC\KS ;D !DCCDCI -ICKRDWGS DFE= 0GK DHHGWGHWDUG< I HI EGK<B;DCIEBLK ;D HI< NRDKFD< ;DH ICFD ;D -I<BHBG ;D #IKFI 0CRbS ^RD <DDcTHBEIK TGC <R EGKGEBUBDKFG ;D IHVRKG< ERI;CG< D<TIdGHD< ^RD aIK D<FI;G DK DH0RbEG= +G< VCIYI;G<S <B YBDK DcTHBEIK HI EGUTG<BEBLKS KG< ;DZIK DK IQRKI< DK HGEGKEDCKBDKFD IH EGHGCB;G Q F_EKBEI ;D HI TBKFRCI= *H CD<FG ;D HG< ERI;CG< ;DH FCIK<DTFGBb^RBDC;G <GK ;D YRDKI EIHB;I;l ^RBb\ HG< U\< NHGZG< Q ^RD U\< <D ITCGcBUIK I GFCG<TBKFGCD< ERb^RDdG< <GK HG< ;D #IKFI -\CYICI Q #IKFI $DEHI= )D HG< ERI;CG< ;D HITICFD YIZIS #IKFI 0IFIHBKI Q #IKFI $DCD<IS TCDNDCBUG< DH TCBUDCG TGC HI NRDCbI ;DDcTCD<BLK TBEFLCBEIS UDZGC EGUTG<BEBLK Q U\< <GHFRCI ;D UIKG= *H ERDCTG ;D<NIHHDXEBDKFD ;D #IKFI 0IFIHBKIS ;D RKI D<FRTDK;I CDIHBbIEBLKS D< ;D HI< UDZGCD< NBVRCI<TBKFI;I< TGC #IKFI 0CRb= *K #IKFI $DCD<I aIQ FCGbG< U\< NHGZG< TGC <DC GYCI ^RBb\ ;D;B<EMTRHGS <BVRBDK;G HI EGUTG<BEBLK ;D RK EGKGEB;G VCIYI;G ^RD <D aI CDTCG;REB;GUREaI< WDED< DK FG;G DH WBCCDBKIFG=

*K DH FCIK<DTFGS IH HI;G ;D HI DTM<FGHIS FDKDUG< DK DH FD<FDCG5 .ICFBCBG ;D #IKFI0IFIHBKI ;D 'HDZIK;CMI Q HI .IV;IHDKI TDKBFDKFD= ' HI ;DCDEaI #IKFI +DGEI;BI EGK#IK "H;DNGK<GS Q RK #IKFG &DQ Q HI kHFBUI 0GURKBLK ;D #IKFI .ICMI *VBTEBIEI= *KHG< EG<FI;G<S Bb^RBDC;I #IK 0CB<FLYIHS ;DCDEaI #IK "<B;CG +IYCI;GC=

*K D<FI GTGCFRKB;I; -I<BHBG ;D #IKFI 0CRb D<FRWG U\< NDHBb DK HG< HBDKbG< UDKGCD<;D HI< <IKFI< TDKBFDKFD< ^RD DK HG< ERI;CG< VCIK;D<= 'KIHBbICDUG< DH EGKZRKFG5 #IKFI0IFIHBKI ^RD aIED TICDZI I #IKFI -\CYICI EGUG NBVRCI D< ;D BKNDCBGC EIHB;I;S DKEIUYBG DH CGUTBUBDKFG ;D VHGCBI D< UREaG UDZGC Q HI NBVRCI ;D 0CB<FG Q HG< \KVDHD< ;D<RIWD D<NRUI;G KG< aIYHIK ;D HI< ;DHBEI;DbI< ^RD FDKMI DH TBKFGC BK;BG ERIK;G ^RDXCMI=

*H ERI;CG ;D HI D<EDKI FGHD;IKI DK ^RD BKFDCWBDKDK #IK "H;DNGK<GS <R aDCUIKG Q<R UI;CDS D< ;D VCIK BKFDC_< TGC HG DcFCIdG ;DH FDUI DK DH 3DCk= !I ;DYB;G <DCDKEICVG ;DH %YB<TG .GHHBKD;GS ^RD NRD WB<BFI;GC Q DcIUBKI;GC <BKG;IH ;DH ICbGYB<TIX;G ;D $GHD;G= +I VCIEBI Q NBVRCI EDKFCIH ;D HI UI;CDS THDKI Q <RIWDUDKFD YICCGEIS D<;D VCIK DKEIKFG Q ;D HGVCG TDCNDEFG=

*K HI TICFD YIZI EIUTDIK ;G< ;D HI< UDZGCD< GYCI< ;D -I<BHBG ;D #IKFI 0CRbS HI.IV;IHDKI Q #IKFI .ICMI *VBTEBIEI= *K IUYG< ERI;CG< KG <IYDUG< ^R_ I;UBCIC U\<S<B DH TDCNDEFG EGKGEBUBDKFG ;DH ;D<KR;GS EG<I <RUIUDKFD CICI DK FG;I HI TBKFRCIEGHGKBIHS G HI UID<FCMI ;D HG< DTB<G;BG< Q DH TIB<IZD= 0GUTG<BEBGKD< IUYI<S FGUI;I< ;DVCIYI;G<S KG< ;DURD<FCIK <BK DUYICVG HI <GCTCDK;DKFD ;REFBHB;I; ;DH TBKEDH ;D #IKFI0CRbS ^RD DK HI .IV;IHDKI KG< ;I RKI URZDC DK HI THDKBFR; ;D <R YDHHDbI Q DK HI*VBTEBIEI RKI IKEBIKI EGK<RUB;I TGC HI TDKBFDKEBIl BKBEBG Q NBKIH ;DH IC;RG EIUBKG;D I<ED<B< ECB<FBIKI= *H DTB<G;BG ;D #IKFI .ICMI *VBTEBIEIS <R URDCFDS D< ;D UDZGC

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fgA

EIHB;I; FIKFG DK DH ;BYRZG EGUG DK DH EGHGCB;G ^RD HG< \KVDHD< Uk<BEG< EGKNGCFIK;GI HI .IV;IHDKI=

#IK 0CB<FLYIHS DH FMTBEG #IK 0CB<FGYIHLK ;D FG;I< HI< EIFD;CIHD< aB<T\KBEI<S ;DNDK<IEGKFCI DH UIH Q HI TD<FDS <D QDCVRD ;D<UD<RCI;G DK DH HBDKbG ;D -I<BHBG ;D #IKFI 0CRb=qRBb\ TGC HI TCGTGCEBLK Q DH EIC\EFDC UB<UG ;DH FDUI UD;BDWIH Q KG YICCGEG KG TI<I;D <DC D<FD ERI;CG RKI CDIHBbIEBLK ;B<ECDFI= *H DTB<G;BG ;DH ;DUGKBG IKIEGCDFI DK <REIYIdI ;DH CMG CDERDC;I IHVG IH ;D HI 0GURKBLK ;D #IKFI .ICMI *VBTEBIEI= *H EGHGCB;GQ HI FGKIHB;I; DK WDC;D Q FBDCCI <GUYCI DK ^RD <D aIHHI CDIHBbI;G DH ERI;CG HD ;IKEBDCFI <DK<IEBLK ;D <DWDCB;I;= *KNCDKFD ;D #IK 0CB<FLYIH D<F\ RK VCIK HBDKbG EGK<IXVCI;G I #IK "<B;CG +IYCI;GCS TIFCLK ;D HI EBR;I; ;D .I;CB;S ;D HI ^RD NRD GCBRK;G DH%YB<TG .GHHBKD;Gl D< HLVBEG TDK<IC ^RD .GHHBKD;G ^RB<BDCI FDKDC I HI WB<FI DK <REIFD;CIH DH <IKFG TIFCGKG ;D <R WBHHI= #BK DUYICVGS <R TBKFGC ;D E\UICI -I<BHBG ;D#IKFI 0CRb KG D<FRWG FIK NDHBb DK D<FI GTGCFRKB;I;S ;DYB;G ^RBb\ IH VCIYI;G ^RD HDDKFCDVICGK= *< RKI EGUTG<BEBLK ICEIBbIKFD ^RD ;B<TGKD HI NBVRCI ;DH <IKFG HIYCI;GCDK NGCUI EDKFCIHS CG;D\K;GHG ;D UD;IHHGKD< EGK D<EDKI< IHR<BWI< I <R WB;I= *<FICBVB;Db ICEIBbIKFD ^RD <RTGKDUG< <D ;DYD IH VCIYI;GS <D FCI;RED DK FG;I D<FI TBKFRXCIS ^RD NRD HI kHFBUI CDIHBbI;I TGC -I<BHBG ;D #IKFI 0CRb TICI DH UGKRUDKFIH EGKZRKXFGS TRD< <D aIHHI NBCUI;I -I<BHBG NDEBF figp= ,G TG;DUG< KDVIC HI UID<FCMI EGK ^RD <DaIHHI TBKFI;G DH EIYIHHDCG ^RD WB<FD I HI R<IKbI ;D HI _TGEI ;D 2DHBTD """ Q ^RDTDC<GKBNBEI IH IUG ;D #IK "<B;CGS KB HI WBCBH Q YDHHI EIYDbI ;DH <IKFG= 3DCG DH EGKZRKFG;D<UDCDED ;D IHVRKG< ERI;CG< EGUG HG< ;D <IKFI< IKIEGCDFI< Q DH ;D HI 0I<RHHI ;D#IK "H;DNGK<G= *H FGFIH ;D HI GYCI CDIHBbI;I TGC -I<BHBG ;D #IKFI 0CRbS DK HG< YCIbG<;DH FCIK<DTFG ;D HI EIFD;CIH ERb^RDdI D< CDIHUDKFD ;BVKG ;D DKEGUBGl KG< URD<FCI IHUDZGC TBKFGC ;DH 0RbEG DK DH <BVHG `O"" ZRKFG I qRB<TD $BFG= *H VCRTG ;D TBKFRCI< D<DH UDZGC ;D FG;G DH WBCCDBKIFG TGC <R EIHB;I;=

,G FDCUBKI HI GYCI ;D -I<BHBG ;D #IKFI 0CRb DK HI EIFD;CIH EGK DH EGKZRKFG ;DHECREDCG= $BDKD I;DU\< RK TIC ;D ERI;CG< DK HG< EG<FI;G< ;DH EGCG= #R< FDUI< <GK HIOBCVDK ;D -DH_K Q HI OBCVDK ;D 'HUR;DKI= *H TCBUDCG CDHIFI RK UBHIVCG IEIDEB;G EGK0DHDK^RDS CBEG WDEBKG ;DH 0RbEGS DH aIHHIbVG UBHIVCG<G ;D HI BUIVDK DK DH 0IHHIG Q <R;D<FBKG TCGWB;DKEBIH TICI HI EBR;I; ;D HG< BKEI< Q ;DKFCG ;D DHHI TICI HI TICCG^RBI ;D-DH_K= +G U\< BUTGCFIKFD ;DH ERI;CGS I;DU\< ;D HG< DTB<G;BG< ^RD <D aIHHIK TBKFI;G<DK NGCUI RK FIKFG ICEIBbIKFD Q HI WB<FI ;D HI BVHD<BI ;D -DH_KS D< DH CDFCIFG GCIKFD ;DH%YB<TG .GHHBKD;G ^RD GERTI DH <BFBG ;D aGKGC ;DH HBDKbG ZRKFG I HI BUIVDK ;D HIOBCVDK ;D -DH_K= *H CDFCIFG WIHD FG;G DH ERI;CG= *< GYCI EITBFIH ;D HI TBKFRCI ERb^RDXdI Q TCGFGFBTG ;D HG< GFCG< CDFCIFG< ;D .GK<= .GHHBKD;G ^RD <D aIHHIK D<TICEB;G< TGCDH 0RbEG= +I EIYDbI ;DH CDFCIFI;G ;D p„hS ;D KGYHD Q WBCBH TGCFD D< ;D HG UDZGC ^RD aI<IHB;G ;DH TBKEDH ;D #IKFI 0CRb=

*K DH HI;G GTRD<FG ;DH EGCG <D aIHHI DH ERI;CG ;D HI OBCVDK ;D HI 'HUR;DKIS ;D^RBDK DCI URQ ;DWGFG DH %YB<TG .GHHBKD;G TGC aIYDC <B;G T\CCGEG DK .I;CB; ;D HIEBFI;I NDHBVCD<MI= *H ERI;CGS NDEaI;G DK figjS BK;BEI ^RD DH GYB<TG aIYMI FCIM;G HIBUIVDK ;D HI 'HUR;DKI ;D<;D .I;CB;S aIYB_K;GHD ;D;BEI;G RKI TICCG^RBI DK DH0RbEG= +I aBbG EGTBIC DK DH ERI;CG Q I <R< TBD< EGHGEIC HG< CDFCIFG< ;D 0ICHG< "" Q <RD<TG<I= #GK CDFCIFG< FIK YRDKG< ^RD TG;CMIK aIYDC <B;G TBKFI;G< DK *<TIdI= )DYBDXCGK <DC EGTBI ;D HG< FCIM;G< TGC .GHHBKD;G ;D<;D .I;CB; Q ^RD NBCUICI !DCCDCI -ICXKRDWG=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fgi

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fgs

0'36$8+% #*`$%+' *#08+$8&' *, +' &*7"J, ',)",'

*H TCD<DKFD ITICFI;G <D EDKFCI DK HI< UIKBND<FIEBGKD< D<ERHFLCBEI< ;D HG< WBCCDBKIXFG< ;DH 3DCk Q ;D ,RDWI 7CIKI;I= *H TCBUDCGS ECDI;G TGC *<TIdI DK fAh?S BKEHRQLHG< IEFRIHD< FDCCBFGCBG< ;D 0GHGUYBIS *ERI;GCS -GHBWBI Q 3DCkS I<M EGUG HG< ;D 0aBHD Q'CVDKFBKI= *H <DVRK;GS NRD BK<FIRCI;G DK fsfsS <RTCBUB;G DK fs?p Q CD<FIYHDEB;G;DNBKBFBWIUDKFD DH IdG fspgl EGUTCDK;MI HG< FDCCBFGCBG< IEFRIHD< ;D ODKDbRDHIS 0GXHGUYBIS *ERI;GC Q 3IKIU\=

f= +' *#08+$8&' *, *+ 3*&r= #"7+%# Ò""XÒ"""

+I D<ERHFRCI DK DH WBCCDBKIFG ;DH 3DCkS IRK^RD EGK RKI EIHB;I; Q DZDEREBLK ;D<XBVRIH FIKFG DK HI NGCUI EGUG DK HG< FDUI< FCIFI;G<S NRD U\cBUI DcTCD<BLK ;DH YICCGEGSTGC <R <BKECDFB<UG ERHFRCIH Q CDHBVBG<G= +I< BU\VDKD< CDEBYBDCGK RK FCIFG BK;BWB;RIH QEI<B aRUIKGS YGCCIK;G HG< HMUBFD< DKFCD HI NBEEBLK Q HI CDIHB;I;S NR<BGKIK;G HI< ECDDKXEBI< Q EG<FRUYCD< TCDaB<T\KBEI< Q HI BKNHRDKEBI DRCGTDI=

*K DH WBCCDBKIFG HI CDIHBbIEBLK ;D HI< BU\VDKD< I;^RBCBL RKI EICIEFDCM<FBEI TDERHBICTRD< _<FI< DCIK HI CDTCD<DKFIEBLK ;D HI ;BWBKB;I; TDCG FIUYB_KS <BVRBDK;G HI BKNHRDKXEBI TCDaB<T\KBEIS DCIK HI TCGTBI ;BWBKB;I; TRD< I;^RBCMIK <R D<DKEBI= 3GC FIKFGS HIBUIVDK D< RKI CDTCD<DKFIEBLKS TDCG IH UB<UG FBDUTG D< HG CDTCD<DKFI;G DK <M= *<FGDcTHBEI ^RD IHVRKI< BU\VDKD<S EGUG HI OBCVDK ;D 0GTIEIYIKIS <D aIQIK CDTDFB;GFIKFI< WDED< Q ^RD <D CDIHBbICIK TD;B;G< ;D D<FI I;WGEIEBLK ;RCIKFD IdG<=

*<FI B;DKFBNBEIEBLK DKFCD HI ;BWBKB;I; Q <R CDTCD<DKFIEBLK TH\<FBEI HHDVL I <R TRKFGU\< IHFG DK DH <BVHG Ò"""S UGUDKFG DK DH ^RD HI< D<ERHFRCI< IHEIKbICGK FIH VCI;G ;DWDCG<BUBHBFR; ^RD <D HHDVICGK I RFBHBbIC DK CDTCD<DKFIEBGKD< CDHBVBG<I< Q IRFG< <IECIXUDKFIHD<S aIEB_K;G<D TICI DHHG BU\VDKD< ICFBERHI;I< ^RD EGK<DVRMIK FCI<UBFBC D<I <DKX<IEBLK ;D CDIHB;I;=

2RD URQ <BVKBNBEIFBWI HI BUTGCFIEBLK ;D TBDbI< FIHHI;I< Q TGHBECGUI;I< D<TIdGHI<I HG HICVG ;D FG;G DH TDCBG;G WBCCDBKIHS TDCG TICFBERHICUDKFD DK HI <DVRK;I UBFI; ;DH



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$fgj

3&%0*#"J, )* +' ".'7*, )* #', 7*&J,".%= 2"*#$' )*+ 0%&38#S0890% :#"7+% ``>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# fgg

<BVHG Ò" Q HI TCBUDCI ;DH Ò""= *<FI< GYCI< <BCWBDCGK ;D UG;DHG< I HG< D<ERHFGCD<BK;MVDKI<S TRD< ;D<;D RK TCBKEBTBG <D NGCUICGK FIHHDCD< ;D D<ERHFRCI ^RD FCIYIZICGKDK F_EKBEI< TDERHBICD< ;D HI CDVBLK EGUG HI D<ERHFRCI DK UIVRDQXTI<FIXFDHI DKEGHIX;I=

*< URQ BUTGCFIKFD HI HHDVI;I ;D D<ERHFGCD< Q DKFIHHI;GCD< D<TIdGHD< IH WBCCDBKIFGSTICFBERHICUDKFD HG< <DWBHHIKG< ^RD D<FRWBDCGK IEFBWG< DK +BUI DK HI TCBUDCI UBFI; ;DHÒ""= +I< BU\VDKD< <DWBHHIKI< TCGED;MIKS DK VDKDCIHS ;DH FIHHDC ;BCBVB;G TGC &G^RD ;D-IH;R^RDS UID<FCG NHIUDKEG IEFBWG DK DH <DVRK;G FDCEBG ;DH <BVHG Ò" Q ^RD <DEGKGEMI EGUG [DH BUIVBKDCG ;D HI UI;CD ;D )BG<]=

3G;DUG< ;D<FIEIC HI< ;D eRIK .ICFMKDb .GKFId_<S EGUG <R< ECB<FG< Q GFCI< NBVRCI<;DH CDFIYHG ;D #IK eRIK -IRFB<FI ;D HI EIFD;CIH ;D +BUI G DH #IK eDCLKBUG ;D HI#IECB<FMI ;D HI 0GUTIdMI DK 0RbEG= OIHD HI TDKI UDKEBGKIC I HI )GHGCG<I Q IH *EED!GUG ;D 3D;CG ;D .DKIS DcB<FDKFD< DK HI BVHD<BI ;D #IK 3D;CG ;D +BUI=

3ICFBEBTICGK FIUYB_K ICFB<FI< BFIHBIKG< EGUG -DCKIC;G -BFFBS IRFGC ZRKFG I 3D;CG ;DOICVI<S ;D HG< CDHBDWD< ;DH IKFBVRG CDFIYHG ;D HI 0GUTIdMI DK 0RbEGS DKFCD HG< ^RD;D<FIEIK #IK #DYI<FB\K Q #IKFBIVGS aGQ DK DH .R<DG !B<FLCBEG &DVBGKIH ;D 0RbEGS Q;D HG< CDFIYHG< ;D HI '<RKEBLK :fAjh> ;D eRHB Q 0aIHHITIUTIS GYCI< ;D -BFFB Q 'KVDXHBKG .D;GCGS D<FD kHFBUG IRFGC ;DH 0CB<FG NBCUI;G DK fi@@ DK 1GFIHIS 0aR^RB<IEI= +I<NBVRCI< ;D -BFFB <D EICIEFDCBbIK TGC IEFBFR;D< DHDVIKFD< Q EIKGK IHICVI;GS IHEIKbIK;GVCIK ;BNR<BLK DK FG;G DH <RC IK;BKG VCIEBI< I HG< EGK<FIKFD< ;D<THIbIUBDKFG< ;D D<FDICFB<FI= *ZDUTHG ;D GYCI BUTGCFI;I DK D<FD EI<G ;D "FIHBIS D< HI BUIVDK DK U\CUGH ;D#IKFI &G<I ;D +BUIS DKEICVI;I DK fiig IH D<ERHFGC BFIHBIKG .DHEaGC 0INN\S <DVRB;GC;D -DCKBKB=

*<ERHFGCD< BK;MVDKI< URQ BUTGCFIKFD< ;D D<D TDCBG;G TDCFDKDEBDCGK IH FIHHDC ;D0GTIEIYIKIS DK DH HIVG $BFBEIEI= 2CIKEB<EG $BFG 1RTIK^RBS IRFGC ;D HI NIUG<I OBCVDK;D 0GTIEIYIKI Q ;D UREaI< GFCI< C_THBEI< ^RD HD NRDCGK DKEICVI;I< Q ^RD NRDCGKHHDWI;I< I <BFBG< URQ ;B<FIKFD<S EGUG HI ;D 0GEaICEI<= $BFG 1RTIK^RBS ;D <IKVCD CDIHSDCI ;D<EDK;BDKFD ;BCDEFG ;D HG< &DQD< "KEI<= ,IEBL DK 0GTIEIYIKI Q DK DH D<ER;G ;DICUI< ^RD HD EGKED;BL DH *UTDCI;GC 0ICHG< O I <R< IKFDTI<I;G< FDKMI DH HDUI ['WD.ICMI]= #D EGKGED TGEG ;D <R WB;I IKFDCBGC I HI EGKNDEEBLK ;D HI BUIVDK ;D HI0IK;DHICBI <LHG ^RD <D NGCUL DK DH FIHHDC ;DH UID<FCG )BDVG %CFBb= %FCG D<ERHFGCBUTGCFIKFD D< #DYI<FB\K 'EG<FI $RTIE "KEIS IRFGC ;DH TCBUDC CDFIYHG UIQGC ;D 0GTIXEIYIKI :fifj>= *<FD CDIHBbLS TICI DH EGKWDKFG ;D #IK 'VR<FMK ;D 0RbEGS HI< BU\VDKD<;D HI OBCVDK ;D HI 0IK;DHICBI :fih?> ^RD <D DKERDKFCI aGQ DK HI EITBHHI ;D eD<k<S.ICMI Q eG<_= $IUYB_K DHIYGCL GFCI BUIVDK ;D HI OBCVDKS TICEBIHUDKFD URFBHI;IS ^RD<D DKERDKFCI DK DH EGKWDKFG ;D #IKFI $DCD<I ;D D<I UB<UI EBR;I;=

+I D<ERHFRCI ;DH YICCGEG <D TRD;D ;BNDCDKEBIC TGC ;G< EHICI< FDK;DKEBI<= +I TCBUDXCI EICIEFDCBbI;I TGC RK YICCGEG UD<RCI;G TCLcBUG IH CDIHB<UG Q WDCG<BUBHBFR; ;D HI<BU\VDKD< ;D HI D<ERDHI <DWBHHIKIl Q HI <DVRK;IS RK YICCGEG U\< ;BK\UBEG ^RD ERHUBKLDK RK EBDCFG aBTDCCDIHB<UG ;DH YICCGEG UD<FBbG=

)DKFCG ;D HI TCBUDCI FDK;DKEBI TG;DUG< ;D<FIEICS DK FDCCBFGCBG YGHBWBIKGS I 7I<TIC;D HI 0RDWIS KIEB;G DK #DWBHHI DK fAjg Q NIHHDEB;G DK fih@= $CIYIZL TCBUDCG DK +BUIQ ;D<;D fip? D<FRWG DK 3GFG<M aI<FI <R URDCFD GERCCB;I IHCD;D;GC ;D UD;BI;G< ;D<BVHG= *H UB<UG DZDERFIYI HI< FIHHI< Q HRDVG HI< ;GCIYI Q TGHBECGUIYI= )DZL RK YRDKKkUDCG ;D GYCI< ;D VCIK EIHB;I;S EGUG RK #IK -ICFGHGU_ DK DH )DTICFIUDKFG ;D HI



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?@f

.*+0!%& 0'224= #',$' &%#' )* +".' :fiig>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?@?

3IbS RKI $CBKB;I; ;D HI ^RD <LHG ^RD;I DH 3I;CD *FDCKGS Q HI< NBVRCI< ;DH CDFIYHGUIQGC ;D #IK 'VR<FMKS Q RKI #IKFI $DCD<I= *K fip? NBCUL RK *EED !GUG ^RD D<F\ DKDH EGKWDKFG NCIKEB<EIKG ;D 3GFG<M= *K #IK +GCDKbG <D EGK<DCWIK ;G< UIVKMNBEI<GYCI< <RQI<S DH 0CB<FG 0CREBNBEI;G Q DH 0CB<FG IFI;G I HI EGHRUKI= 'H TICDEDC <R kHFBUIGYCI NRD DH 0CB<FG ;D -RCVG< :a= fiA@> ;D #IK 'VR<FMK=

%FCG< D<ERHFGCD< ;D HI UB<UI FDK;DKEBI NRDCGK DH ZDCDbIKG +RB< ;D *<TMK;GHI ^RDFIUYB_K FCIYIZL DK +BUIS DK HI 3HIFI Q 3GFG<M DKFCD fipj Q fihi= #GK ;D _H HG< CDHBDWD<;DH CDFIYHG ;D #IK 'KFGKBG ;D 3I;RI ;DH EGKWDKFG NCIKEB<EIKG ;D 3GFG<M5 RK #IKeRIK -IRFB<FI Q RK #IK eRIK *WIKVDHB<FI ;DH .R<DG 0aICEI< DK #RECD= %FCG D<ERHFGC;DH VCRTG NRD +RB< ;D 3DCIHFI ^RD NBCUL DH 0CB<FG ;DH '<BHG ;D 'KEBIKG<S IKFD< EITBHHI;D #IK &G^RD DK 3GFG<M= )D D<FBHG WBKERHI;G EGK HI D<ERDHI VCIKI;BKI <GK ;G< BU\XVDKD< ;D 0CB<FG CDEGVBDK;G <R< WD<FB;RCI<S RKI DK #IK .BVRDH ;D #RECD Q GFCI DK DH.R<DG ,IEBGKIH ;D 'CFD ;D HI 3IbS UBDKFCI< ^RD ;D BKNHRDKEBI EI<FDHHIKI <D EGK<DCWIRK #IK 2CIKEB<EG ;D '<M< DK HI EIFD;CIH ;D #RECDS Q DH #IK eRIK -IRFB<FI ;D #IK.BVRDHS FIUYB_K DK HI UB<UI EBR;I;= "UBFI;GCD< Q <DVRB;GCD< ;DH ICFD ;D 7I<TIC ;D HI0RDWI NRDCGK DH UID<FCG ;D #IK &G^RD Q DH UID<FCG ;D #IKFI .LKBEIS HHIUI;G< I<M TGC GYCI< ^RD ;D DHHG< ^RD;IK DK HG< CD<TDEFBWG< FDUTHG< TGFG<BKG<=

$C\< HI ;D<ITICBEBLK ;D ICFB<FI< D<TIdGHD< DH ICFD ;D HI D<ERHFRCI ^RD;L FGFIHUDKFDDK UIKG< ;D ICFB<FI< BK;MVDKI< Q UD<FBbG<S HI UIQGC TICFD IKLKBUG<S ^RD CDIHBbICGK RKICFD YICCGEG UD<FBbGS DcRYDCIKFD D aBTDCCDIHB<FI= )DKFCG ;D D<FI FDK;DKEBI TG;DUG<;D<FIEIC HI< D<ERHFRCI< TCGED<BGKIHD< ;DH ICFB<FI ERb^RDdG .DHEaGC 7RIU\K .IQFIS<BDK;G HI< U\< HGVCI;I< Q EGKGEB;I< HI< BU\VDKD< ;D #IK 0CB<FLYIHS ;D HI BVHD<BITICCG^RBIH ;D D<D KGUYCD DK 0RbEGS HI BUIVDK ;D #IKFG )GUBKVG :figj> ;D HI BVHD<BI;D D<D KGUYCD Q HI< ;D #IK #DYI<FB\K Q #IK eDCLKBUGS ;D HG< CD<TDEFBWG< TRDYHG<URQ EDCEIKG< I D<I EBR;I;= 7RIU\K DcFCDUL HI FDK;DKEBI CDIHB<FI DK <R< BU\VDKD<TCGED<BGKIHD<= #R< NBVRCI<S EGK ERDCTG< ;D UIVRDQ Q FDHI DKEGHI;IS <D EICIEFDCBbIKTGC RKI D<F_FBEI DNDEFB<FI TCGTBI ;DH UGUDKFG=

)RCIKFD DH <BVHG `O""" <D TCG;RED RKI TDCWBWDKEBI ;D HG< UG;DHG< Q FDK;DKEBI<IKFDCBGCD<S IRK^RD ;DYD ;D<FIEIC<D TGC <R EIHB;I; D BUTGCFIKEBIS HI BUIVDK ;D HI.RDCFD IC^RDCI S ;D TCBKEBTBG< ;DH <BVHG `O"""S GYCI ;DH D<ERHFGC HBUDdG -IHFI<IC 7IWBXH\KS ^RD <D DKERDKFCI DK HI <IECB<FMI ;D #IK 'VR<FMK ;D +BUI= #D IFCBYRQD IH UB<UGICFB<FI HI D<ERHFRCI DERD<FCD ;D 2DHBTD O ^RD EGCGKIYI DH ICEG HDWIKFI;G <GYCD DHTRDKFD ;DH CMG &MUIES GYCI ;D<FCRB;I ;RCIKFD DH FDCCDUGFG ;D fshi=

3ICI IHVRKG< aB<FGCBI;GCD<S aIYCMI ^RD B;DKFBNBEIC I 7IWBH\K EGK DH D<ERHFGC UD<FBbG-IHFI<IC .DH_K;DbS IRFGC ;GERUDKFI;G ;D HI D<FIFRI GCIKFD ;DH WBCCDQ ICbGYB<TG)BDVG .GCEBHHG Q &RYBG ;D 'RdLK :fshp>S DK <R EITBHHI NRKDCICBI ;D HI EIFD;CIHS IHBVRIH ^RD ;D GFCI DNBVBD <BUBHIC ;DH EGK;D ;D #IKFI 'KI ;D HI< $GCCD<=

?= *#08+$8&' *, +'# ."#"%,*# e*#86$"0'# )* .%`%# 1 0!"q8"$%#:'0$8'+ -%+"O"'>

0ITMFRHG ITICFD <GK HG< D<ERHFGCD< BK;MVDKI< ;D HI< UB<BGKD< ZD<RMFBEI< ;D .GcG< Q0aB^RBFG<S ^RD <BK HI FCI;BEBGK D<ERHFLCBEI ;D HG< BK;BG< ;DH IHFBTHIKGS TDCG EGK BKXNHRDKEBI ;D HI D<ERHFRCI UB<BGKDCI ;D 'CVDKFBKI Q 3ICIVRIQS NGCUICGK FIHHDCD< ;D



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?@p

2&',0"#0% $"$% 183',q8"= O"&7*, )* 0%3'0'-','=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?@h

TCG;REEBLK <DUBXBK;R<FCBIH= *<FG< D<ERHFGCD< CDIHBbICGK VCIK EIKFB;I; ;D BU\VDKD<ICFBERHI;I<S ;D WD<FBCS EGK GZG< ;D WB;CBGS TDHREI< KIFRCIHD< Q GFCG< ;DFIHHD< ^RD HI<aIEMIK URQ CDIHB<FI< Q WDCG<MUBHD<S Q DZDERFICGK BKKRUDCIYHD< GYCI< TICI HI< BVHD<BI<UB<BGKIHD< Q TICI HI DcTGCFIEBLK=

#D TRD;DK ITCDEBIC ;B<FBKFI< EIHB;I;D< ;D FCIYIZGS ;D<;D GYCI< Dc^RB<BFIUDKFD DHIXYGCI;I<S TCGYIYHDUDKFD YIZG HI ;BCDEFCBb ;D IHVkK D<ERHFGC EGKGED;GC ;DH GNBEBGS QGFCI< TCG;REFG ;D HI BUTCGWB<IEBLK DK DH ICFDS EGUG HG< CDHBDWD< ;D #IKFBIVGS DH ,BdGeD<k< EGK HG< <MUYGHG< ;D HI 3I<BLK Q HI 'TICBEBLK ;D HI OBCVDK I #IK eIWBDCS ^RDTCGWDKBDKFD< ;D #IK eIWBDC Q #IKFBIVG ;D 0aB^RBFG< D<F\K DK DH .R<DG ;D HI EIFD;CIH;D #IKFI 0CRb= $IUYB_K CDIHBbICGK D<ERHFRCI ;D VCIK EIHB;I; DK EDC\UBEIS EGUG HG<IKVDHBFG< NRKDCICBG< ;D #IK eIWBDC=

p= *#08+$8&' *, +' ,8*O' 7&',')'= #"7+%# Ò"XÒ"""

)RCIKFD DH <BVHG Ò" HHDVICGK I ,RDWI 7CIKI;I D<ERHFRCI< ;D TCGED;DKEBI <DWBHHIXKI Q ;D FDU\FBEI CDHBVBG<IS EGK RK D<FBHG ^RD G<EBHI DKFCD DH IYIK;GKG ;D HI< NLCURHI<CDKIEDKFB<FI< Q KRDWI< DcTDCBDKEBI< ^RD ;D<DUYGEICMIK DK DH YICCGEG= 3GC <R IKFBXVuD;I; TG;DUG< ;D<FIEIC HI OBCVDK ;D HI 0GK^RB<FI S ;DH EGKWDKFG ;D #IKFG )GUBKXVG DK -GVGF\S NDEaI;I DK fAAh=

)D NBKD< ;DH ^RBKBDKFG< TG;DUG< CD<DdIC RKI #IKFI 0IFIHBKI Q RK #IK 7IYCBDH ;DHEGKWDKFG ;D HG< TI;CD< ;GUBKBEG< ;D $RKZIS ;D TCGED;DKEBI D<TIdGHIS Q RK #IK3D;CG .\CFBC DK HI EIFD;CIH ;D ;BEaI HGEIHB;I;= *K D<FD FDUTHG ;DYDUG< ;D<FIEIC TGC<R EIHB;I; DH EGKZRKFG D<ERHFLCBEG ;DH 0IHWICBGS ;D BVRIH NDEaIS ;D HI EITBHHI ;D HG<.IKEBTD= *<FD VCRTG D< HI TCBUDCI TBDbI NBDHUDKFD ;GERUDKFI;I ;DH TIM< Q <R IRFGC D<eRIK -IRFB<FI DH OBDZGS EGKFCIFI;G DK fAjp TICI CDIHBbIC DH EGKZRKFG= )D HI UB<UI_TGEI D< HI OBCVDK ;D HI 7CIKI;IS ;D HI EIFD;CIH ;D -GVGF\S ;D D<ERDHI <DWBHHIKI QEGUTG<BEBLK TD<I;I=

)RCIKFD DH <BVHG Ò"" HI TCD<DKEBI ;D D<ERHFRCI< D<TIdGHI< ;D TCGED;DKEBI <DWBHHIXKI <D UIKFBDKDS ^RBb\< TGC HI ;BNBERHFI; ;D FCI<HI;IC D<FI< D<ERHFRCI< ;D<;D GFCG<TIM<D< DRCGTDG<= 3G;DUG< ;D<FIEIC DH 0CB<FG ;D HI ODCI 0CRb ;D HI BVHD<BI ;D #IK2CIKEB<EG DK 3GTIQ\KS ;D KGFIYHD< <DUDZIKbI< EGK DH 0CB<FG ;D HI 0IFD;CIH ;D 0GUIXQIVRI DK !GK;RCI<S GYCI ;D 'K;C_< %EIUTG :fi?p>=

*K D<FD <BVHG D< BUTGCFIKFD DH D<ERHFGC eRIK ;D 0IYCDCIS ^RD FCIYIZL DK DH EGKWDKXFG ;D #IK )BDVG Q CDIHBbL HI OBCVDK ;DH 0IUTG S I;DU\< ;D <R GYCI ;D EIKFDCMI EGUGHI< FCD< NBVRCI< ^RD ;DEGCIK HI NIEaI;I ;D HI EIFD;CIH5 HI OBCVDK %CIKFDS #IK 3D;CG Q#IK 3IYHG= $IUYB_K TG;DUG< ;D<FIEIC I 3D;CG ;D +RVG ^RD FIHHL 0CB<FG< IVGKBbIKFD<Q ;GHGCB;G< EGK RKI EHICI BKNHRDKEBI ;D 7CDVGCBG !DCK\K;Db=

*H UIQGC DZDUTHG ;D ICFD YICCGEG DK 0GHGUYBI HG DKEGKFCIUG< DK DH CDFIYHG ;D HIBVHD<BI ;D #IK 2CIKEB<EG ;D -GVGF\S D<ERHTB;G DK fippS ^RD CDEGVD RK IUTHBG CDTDCXFGCBG ;D DHDUDKFG< WDVDFIHD< TCGTBG< ;D HI< FBDCCI< EGHGUYBIKI<5 EGEGFDCG<S TIHUI ;DEDCIS TIHUI ;D EGYBZIS TBdI<=== eRKFG I D<FG< DHDUDKFG< FIUYB_K ;D<FIEI HI NIRKICDTCD<DKFI;I5 EGHBYCMS WDKI;G<S RKBEGCKBG<S DHDNIKFD<S TDCCG<S EGKDZG<S VRIEIUIQG<= *<FDCDFIYHG NRD DK<IUYHI;G TGC "VKIEBG 7ICEMI ;D '<EREaI Q HG< CDHBDWD<S ;D fip@S NRDCGKCDIHBbI;G< TGC DH CDHBVBG<G .ID<FCG ;D #IK 2CIKEB<EG Q ;GCI;G< TGC +GCDKbG !DCK\KX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?@A

;Db= *KFCD D<FG< CDHBDWD< ;D<FIEI HI !RM;I I *VBTFGS DH -IRFB<UG ;D 0CB<FG Q +I.IV;IHDKI=

)D UD;BI;G< ;DH <BVHG Ò"" <GK HI< D<ERHFRCI< ^RD <D CDIHBbIK TICI HI TGCFI;I ;DH0GHDVBG ;DH &G<ICBGS CDIHBbI;I DK FDCCIEGFI Q ERYBDCFI< ;D D<FREG TICI BUBFIC DH U\CXUGHS IFCBYRB;I< I 'KFGKBG 3BUDKFDH= eRKFG I _<FD aIQ ^RD <DdIHIC I 3D;CG +RVG ;D'HYICCIEMK ^RD CDIHBbL DK fiAi HI BUIVDK ;DH #DdGC ;D .GKF<DCCIFD=

)RCIKFD DH <BVHG Ò""" ;DYDUG< ;D<FIEIC HI TCD<DKEBI ;DH D<ERHFGC IK;IHRb 3D;CG+IYGCBI :#IKHkEIC ;D -ICCIUD;IS a= fs@@>S BKWBFI;G TGC 0CB<FLYIH ;D ODCVICI TICI;DEGCIC RKI EITBHHI ;D HI BVHD<BI ;D HG< ZD<RBFI< DK -GVGF\= *K #IK "VKIEBG CDIHBbL RKI<DCBD ;D D<ERHFRCI< DKFCD HI< ^RD ;D<FIEIUG< RK #IK "VKIEBG Q #IK 2CIKEB<EG eIWBDC Q<GYCD FG;G DH EGKZRKFG &ITFG ;D #IK "VKIEBG S ;D fshj= #D FCIFI ;D RK EGKZRKFGTHDKIUDKFD YICCGEGS ;BK\UBEG Q ^RD ;D<FIEI TGC HI UGWBHB;I; ;D HG< CGTIZD< ;D HI<NBVRCI< Q HG< VD<FG< TIF_FBEG<= $IUYB_K CDIHBbL RK #IK 2CIKEB<EG ;D 3IRHI TICI HIBVHD<BI ;D #IK eRIK ;D )BG<S ;D -GVGF\= #R D<FBHG <D EICIEFDCBbI TGC DH UGWBUBDKFGSEGKFGCKDG Q ;CIUIFB<UG ;D <R< NBVRCI<S <BUBHICD< I HI< CDIHBbI;I< TGC *H 7CDEG= 8FBHBbIEGHGCD< BKFDK<G< EGKFCI<FI;G< TGC DH DKEICKI;G <DUBUIFD ;D <R< CG<FCG< Q UIKG<=3CD<DKFI RK VCIK UIKDZG ;DH D<FGNI;GS ERQG ;B<DdG CDERDC;I IH ;D HI< NBVRCI TCGWDXKBDKFD< ;D %CBDKFD=

*K D<FD <BVHG FIUYB_K D< <GYCD<IHBDKFD HI GYCI ;D 3D;CG 0IYIHHDCG= $CIYIZL HG<IHFICD< BKFDCBGCD< ;D HI FDCEDCI GC;DK ;D -GVGF\ IHCD;D;GC ;D fsj@= 2RD RKG ;D HG<TGEG< ICFB<FI< ^RD KG ERYCBL HI UI;DCI ;D NBKI HIUBKBHHI ;D GCG Q ^RD BK;RZG I RKIHDEFRCI WB<RIH ;B<FBKFIS ^RBb\ UDKG< ;CIU\FBEIS UREaG U\< BKFDCBGCBbI;I= *KFCD <R<GYCI< U\< CDTCD<DKFIFBWI< aIQ ^RD ;D<FIEIC DH 'HFIC ;D HG< 3DHMEIKG< DK #IK 2CIKEB<EG;D $RKZI=

h= +' *#08+$8&' q8"$*P'

h= f= 0ICIEFDCM<FBEI< VDKDCIHD<= #BVHG< Ò"XÒ"""

*K VDKDCIHS HI D<ERHFRCI ^RBFDdI ;DH <BVHG Ò" <D EICIEFDCBbL TGC EBDCFI <BUTHBEB;I;KG DcDKFI ;D CBVB;DbS QS DK DH EI<G ;D UREaI< TD^RDdI< FIHHI<S <D I;WBDCFDK aI<FIFG<^RD;I;D< Q WIEBHIEBGKD<= 0IYD TDK<IC ^RD <R< IRFGCD< EGUTHDFIYIK IkK <R NGCUIXEBLK DK FIHHDCD< Q GYCI;GCD<= )D DKFCD DHHG< Q <R< ;B<EMTRHG< <IH;CMIK HG< UID<FCG< ^RDBYIK I ;IC D<THDK;GC I HI D<ERHFRCI ^RBFDdI ;D HG< ;G< <BVHG< <BVRBDKFD<=

*K HI <DVRK;I UBFI; ;D ;BEaI EDKFRCBI NHGCDEBL DK qRBFG HI D<ERHFRCI DK UI;DCITGHBECGUI;I URQ ITDVI;I I HG< UG;DHG< <DWBHHIKG<= 0GK DH FBDUTG <D IdI;BDCGKKGWD;I;D< EGUG HI BKEGCTGCIEBLK ;D RK DKEICKI;G ;D EGHGC ;DHBEI;G Q YCBHHIKFD DKCG<FCG< Q UIKG<= OBKERHI;G I DHHG< aIQ ^RD ;D<FIEIC HI BUTGCFIEBLK ;D D<ERHFRCI<<DWBHHIKI< ;D 7I<TIC ;DH 4VRBHIS eDCLKBUG !DCK\K;Db Q ;DH FIHHDC ;D HG< O\<^RDb= 8KEITMFRHG URQ BUTGCFIKFD FRWBDCGK HI< GYCI< ;D eRIK ;D .D<IS EGUG HI )GHGCG<I ;D HIEIFD;CIH UDFCGTGHBFIKI ;D qRBFGS Q HI TCD<DKEBI ;D ECDIEBGKD< ;D 'HGK<G 0IKG=

' NBKIHD< ;DH Ò" ;D<FIEI HI TCD<DKEBI ;DH D<ERHFGC )BDVG ;D &GYHD< ^RD NRD DKEICXVI;G ;D EGTBIC HI OBCVDK ;D 7RI;IHRTD DK *cFCDUI;RCI= +I OBCVDK ;DKGUBKI;I DKqRBFG ;D 7R\TRHG NRD DKEICKI;I Q D<FGNI;I EGK HI IQR;I ;D +RB< ;D &BWDCI= 3GEG<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?@s

-*&,'&)% +*7'&)'= $&4,#"$% )* +' O"&7*, :#"7+% Ò""">=

CDFIYHG< ITGCFL ;DEB<BWIUDKFD HI TDC<GKIHB;I; ;DH CDFIYHG ^RBFDdG ;DH Ò""" EGK <R<DKFB;G ;D CBFUG Q D<TDEBIH D^RBHBYCBG DK DH ZRDVG ;D HG< DHDUDKFG< EGUTG<BFBWG<=

*K DH EBFI;G CDFIYHG ;DH 0ICUDK .G;DCKGS <D UDbEHIK DH YHG^RD EDKFCIH Q DH ERDCTG<RTDCBGC ;DEB;B;IUDKFD YICCGEG< EGK HI< EGHRUKI< <IHGULKBEI< ;D HG< ;G< YHG^RD< HIFDCIXHD< ;DH ERDCTG BKNDCBGC BUTCBUBDK;G RK WRDHG IC^RBFDEFLKBEG I HI< EGHRUKI< ;DH CDFIYHG=%FCI< GYCI< <RQI< NRDCGK DH ;GCI;G ;DH IHFIC UIQGC ;D +I 0GUTIdMIS EGK HI< FCBYRKI< ;D HG<HI;G< ;DH TCD<YBFDCBG Q HI FIHHI ;D UIUTICI< TICI ;DYIZG ;D HG< EGCG<=

3DCG ;GK;D ;D<FIEL D<TDEBIHUDKFD D< DK <R< D<ERHFRCI< ;D YRHFG CD;GK;G= 0IHWIXCBG< EGUG DH ;DH CDFIYHG EDKFCIH ;D 0IKFRdIS HI #IKFI &G<I ^RD <D VRIC;I DK DH .R<DG;D 'CFD 0GHGKBIH ;D qRBFGS Q VCRTG< ;DH ,IEBUBDKFG EGK HG< &DQD< .IVG<= #R< GYCI<<D EICIEFDCBbIK TGC DH <DCDKG ;BKIUB<UG Q TGC FCI<EDK;DC DH GYZDFG CDHBVBG<G DK NIWGC

;D HI GYCI ;D ICFD= ,BKVRKI ;D HI< FIHHI< ;D +DVIC;I <D EGKWBCFBL DK GYZDFG ;D ERHFG=+I GYCI U\< CDTCD<DKFIFBWI ;DH D<ERHFGC NRD <R WDC<BLK ;D HI "KUIERHI;I EGK IHI< =

+I OBCVDKS ^RD FBDKD TGC TDIKI HI HRKIS TB<I I HI <DCTBDKFD Q <D HDWIKFI ;D HI FBDCCI EGKRK UGWBUBDKFG aDHBEGB;IHS IH ^RD IdI;DK HBVDCDbI HI TBDCKI Q HG< ;G< YCIbG< RK TGEGHDWIKFI;G<= 0GUTHDFIK HI BUTCD<BLK ;D UGWBUBDKFG HG< THBDVRD< ;DH UIKFGS ^RD TICDXED IVBFI;G TGC RK IBCD <RIWD=

#R BUTGCFIKEBI <GEBIH <D WBG CDEGUTDK<I;I ERIK;G DK fsi? <D HD DHBVBL <MK;BEG ;DHVCDUBG ;D D<ERHFGCD< Q TBKFGCD<S Q DK DH +BYCG KRDWG ;D &DEBYG ;D HI 0GNCI;MI ;D ,RD<FCI #DdGCI ;DH &G<ICBG EGK<FI <R KGUYCD EGUG RKG ;D HG< WDBKFBERIFCG KGFIYHD<;D HI EBR;I;S ZRKFG I UIC^RD<I< Q UIC^RD<D<S EGK;D<I< Q EGK;D<=

$CI< HI URDCFD ;D +DVIC;I <RCVBL GFCG ICFB<FI ^RD TGK;CMI EGHGNLK IH <BVHG Ò""" DBKIRVRCICMI DH `"`= #D FCIFI ;D .IKRDH 0aBHBS HHIUI;G 0I<TBEICI= 3GEG EGKGEDUG< ;D

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?@j

<R WB;I Q TDC<GKIHB;I;= )D GCBVDK BK;BG G UD<FBbGS ;DYBL NGCUIC<D DK IHVRKG ;D HG<FIHHDCD< ;D qRBFGS ITCGWDEaIK;G HI< GYCI< ;DH 3I;CD 0ICHG< Q ;DH TCGTBG +DVIC;IS I<M EGUG FIHHI< TGHMECGUI< aB<TIKI< Q VCRTG< BFIHBIKG< IH D<FBHG ;D HG< ;D )DHHI &GYYBI=

[#R< GYCI< v;BED ,IWICCGv <GK ;D IEIYI;I TDCNDEEBLKS Q KG <D <IYD ^R_ I;UBCICU\< DK DHHI<5 <B HI B;DI NDHBb ;D HI EGUTG<BEBLK G HI UIVB<FCIH UIKDCI DK HI DZDEREBLKS<B HI VCIEBI DHDVIKFD ;D HI HMKDI G DH TCDEBG<B<UG UIVKMNBEG ;D HI UI<IS <B HI UDFBERHG<IBKFDCTCDFIEBLK ;D HG< ;CITDI;G< ;D <R< D<FIFRI< G HI ZR<FDbI ;D NGCUI< IKIFLUBEI< DK<R< I;UBCIYHD< ECREBNBZG<]=

.REaI< NBVRCI< ;D 0I<TBEICI FBDKDK UGWBUBDKFG VC\EBH Q CMFUBEG= *<FG <D WDS TGCDZDUTHG DK HG< 0CB<FG< CD<REBFI;G< EGK HI< TBDCKI< Q HG< YCIbG< U\< G UDKG< HDWIKFIX;G<S TICI IEDKFRIC HI BUTCD<BLK ;D HDWD;I;= %FCI< WDED< HI< NBVRCI< D<F\K HHDKI< ;DUGWBUBDKFG EGKFDKB;G EGUG HI OBCVDK ;DH VCRTG ;D HI '<RKEBLK G DH #IK 2CIKEB<EG;D HI BUTG<BEBLK ;D HI< HHIVI<= +G< IEIYI;G< ;D HI< GYCI< UIKBNBD<FIK RK EHICG D<TMCBFRYICCGEG DK HI< TGHBECGUMI<S EGUG #IKFG )GUBKVG ;D 7RbU\KS Q HG< D<FGNI;G< Q ;CIXTDI;G<S HI OBCVDK I<RKFIS #IK eRIK ;D )BG< G DH #IK 2CIKEB<EG EGK IHI<=

*K HI< GYCI< ;D 0I<TBEICI EGKWBWDK HI CDHBVBG<B;I; Q D<TBCBFRIHB;I; EGK RKI EICKIXHB;I; TIHTBFIKFDS ^RD DK EI<G< D< <DK<RIH Q aI<FI ULCYB;Il I<M HG DKEGKFCIUG< DK <R<,BdG< eD<k< QIEDKFD<= #R< 0CB<FG< ECREBNBEI;G< <D EICIEFDCBbIK TGC DH D<FR;BG IKIFLXUBEG ;DH ERDCTG aRUIKG DK EGK;BEBGKD< ;D ;GHGCS Q <R< 0CB<FG< CD<REBFI;G< HD ;BDCGKGEI<BLK TICI TCD<DKFIC HG< CI<VG< IRFLEFGKG< ;DH aGUYCD IUDCBEIKG= $IUYB_K HD BKFDXCD<L THI<UIC HI IHDVCMI ;D WBWBCS DK ,IEBUBDKFG< vCBEG< ;D D<EDKI< TBKFGCD<EI< ;DHWBWBC TGTRHICS EGUG DH ;DH 0ICUDK .G;DCKGS NGCUI;G TGC EBDKFG< ;D NBVRCI<vS DKOMCVDKD< ^RD IKFD FG;G DCIK URZDCD< Q DK DH ;D<KR;G VHGCBG<G ;DH CD<REBFI;G=

A= %$&'# $"3%+%76'# )* +' *#08+$8&' #8)'.*&"0','

eRKFG EGK HI D<ERHFRCI DcDKFIS DH ICFD D<ERHFLCBEG DK #R;IU_CBEI FIUYB_K FRWG RKVCIK TCGFIVGKB<UG EGUG EGUTHDUDKFG ;D HI IC^RBFDEFRCI= +I EIHB;I; ;D CDFIYHG< Q<BHHDCMI< ;D EGCG KG< aIYHIK ;D HI TCD<DKEBI ;D RK VCRTG ;D D<ERHFGCD<S FIHHI;GCD< Q;GCI;GCD< ^RD DHDWICGK D<FI< UIKBND<FIEBGKD< I EGFI< BK<G<TDEaI;I<=

+G< CDFIYHG< ;D HG< <BVHG< Ò" Q Ò"" <D EICIEFDCBbIK TGC HI EGUTGKDKFD NGCUIHIC^RBFDEFLKBEI= 'RK^RD HI CDNDCDKEBI ;GERUDKFIH U\< IKFBVRI D< DH CDFIYHG ;D HIEIFD;CIH ;D $CRZBHHGS ;D fAAjS TGEG< DZDUTHG< ;DH <BVHG Ò" aIK HHDVI;G aI<FI KRD<FCG<;MI<= +G< DZDUTHG< U\< IKFBVRG< <D EGK<DCWIK DK 0RbEG Q -GHBWBI= )D HG< TCBUDCG<IdG< ;DH <BVHG Ò"" <GK HG< CDFIYHG< HIFDCIHD< ;D HI "KUIERHI;I Q ;D HI &D<RCCDEEBLK;D HI BVHD<BI ;D HI '<RKEBLK ;D eRHB Q DH TCBUDC CDFIYHG ;DH <IKFRICBG ;D 0GTIEIYIKISDK DH HIVG $BFBEIEIS GYCI ;D #DYI<FB\K 'EG<FI $RTIE "KEI :fifi>=

*H UIKBDCB<UG FIC;MG ITICDED EGK HI GYCI ;D eRIK .ICFMKDb .GKFId_< ^RD DKWBLUREaI GYCI I 3DCk= 3G;DUG< ;D<FIEIC DH CDFIYHG ;D #IK eRIK -IRFB<FIS ;D fi@sS DK HIEIFD;CIH ;D +BUI= #BK DUYICVG DH VCIK EDKFCG ;D TCG;REEBLK ;D CDFIYHG< NRD 0RbEG=.ICFMK ;D $GCCD< NRD IRFGC ;D WICBG< CDFIYHG< ;D<ITICDEB;G< ^RD;IK;G DK TBD DH ;D HI$CBKB;I; DK HI EIFD;CIH ;D fiAA=

*K 0RbEGS D< NRK;IUDKFIH DH TITDH ;DH ICbGYB<TG .GHHBKD;GS VCIK BUTRH<GC ;D HI<ICFD<= !IQ ^RD ;D<FIEIC DH CDFIYHG ;D HI #GHD;I;S DK HI .DCED;S GYCI ;D 3D;CG 7IHDIX



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?@g

.',8*+ 0!"+"S 0'#3"0'&'= 0'+O'&"% :#"7+% `O""">=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?f@

KG DK fii@S Q DH CDFIYHG UIQGC ;D #IKFI 0IFIHBKI= )D )BDVG .ICFMKDb ;D %WBD;G <GKHG< CDFIYHG< ;D #IKFI $DCD<I Q ;D #IK #DYI<FB\K= eRIK $GU\< $RQCR $RTIE D< IRFGC;DH CDFIYHG ;DH -RDK #RED<GS DK HI BVHD<BI ;D #IK -H\<S CDIHBbI;G DKFCD fisp Q fisj=

*K -GHBWBI TG;DUG< ;D<FIEIC HG< CDFIYHG< HIFDCIHD< ;D 0GTIEIYIKI DK DH HIVG$BFBEIEIS ;D fiAi= 3CD<DKFI HI< EICIEFDCM<FBEI< ;DH YICCCGEG DK HI CRTFRCI ;D HG< ERDCXTG<S DH R<G ;D UkHFBTHD< DHDUDKFG< IC^RBFDEFLKBEG< CDBFDCI;G<S HG< NCGKFGKD< TICFB;G<SI;DU\< ;D HI CBEI ;DEGCIEBLK TGHBECGUI;I=

*K 3DCk DH YICCGEG TCGTBIUDKFD ;BEaG ITICDED DK HI< kHFBUI< ;_EI;I< ;DH <BVHG`O""S DK DH CDFIYHG ;D #IK eIWBDCS ;D HI BVHD<BI ;D HI 0GUTIdMI :#IK 3D;CG> ;D +BUISEGK RKI EGUTG<BEBLK YICCGEI Q DH R<G ;D EGHRUKI< <IHGULKBEI<= %YCI EGKFDUTGC\XKDI D< DH CDFIYHG UIQGC ;D HI BVHD<BI ;D eD<k< .ICMI DK +BUIS GYCI ;D eG<_ ;D 0I<FBHHI=*<FD ICFB<FI ;BNRK;BL DH D<FBHG ;D )BDVG ;D 'VRBCCDS IH ^RD <D EGK<B;DCI DH BKFCG;REFGC;D HI EGHRUKI <IHGULKBEI DK +BUI=

*K -GHBWBIS DH YICCGEG <D aIED TCD<DKFD DK HG< CDFIYHG<S Q <D EICIEFDCBbL TGC DH;D<ICCGHHG ;D EGKZRKFG< ;D VCIK;D< ;BUDK<BGKD<S TCGNR<IUDKFD FIHHI;G<S ;GCI;G< QTGHBECGUI;G<= *<FG< DZDUTHG< <D EICIEFDCBbIK TGC HI NR<BLK ;D DHDUDKG< YICCGEG<SEGUG HI EGHRUKI <IHGULKBEIS EGK FCI;BEBGKD< TCDaB<T\KBEI< Q UD;BDWIHD<S DK EGKZRKXFG< ;GUBKI;G< TGC DH aGCCGC WIERB = *KFCD HG< FDUI< ;DEGCIFBWG< TG;DUG< ;D<FIEIC HITCD<DKEBI ;D <BCDKI<S TITIVIQG<S UGKG<S \KVDHD<S NCRFI< FCGTBEIHD< ^RD EGKWBWDK EGKD<EDKI< HBFkCVBEI< ^RD <D ;B<TRFIK DH D<TIEBG ;DEGCIFBWG Q ERYCDK HG< DHDUDKFG<IC^RBFDEFLKBEG< aI<FI aIEDCHG< EI<B BCCDEGKGEBYHD<=

&DFIYHG< TDERHBICD< <GK HG< ;D HI< BVHD<BI< UB<BGKIHD< ZD<RMFBEI< ;D #IK &INIDH Q#IK .BVRDH ;D 0aB^RBFG<S DK DH )DTICFIUDKFG ;D #IKFI 0CRbS ^RD aIYCMIK <B;G ;B<DXdI;G< Q CDIHBbI;G< DKFCD fsA@ Q fsisS TGC .ICFBK #EaUB;= *K DHHG< aIQ U\< EHICB;I;DK DH ;B<DdG IC^RBFDEFLKBEGS TDCG HI ;DEGCIEBLK D< BVRIHUDKFD CBEI Q TCGNR<I=

*K +BUI IHEIKbICMI VCIK BUTIEFG DH KDGEHI<BEB<UGS <BFRIEBLK TGFDKEBI;I TGC DH EIC\EFDCTGCFRICBG ;D ;BEaI EBR;I;S URQ <DK<BYHD I HI< BKNHRDKEBI< ;D HI UDFCLTGHB= #D ;DYD I .IFMI<.ID<FCG :fssiXfjpA> HI CDNGCUI ;D KRUDCG<I< BVHD<BI< ;DFDCBGCI;I< TGC DH FDCCDUGFG ;Dfshi= 2RDCGK CDEGK<FCRB;I< HI< BVHD<BI< ;D #IK 3D;CGS #IKFG )GUBKVG Q +I .DCED;=

.IFMI< .ID<FCG NGCUI;G DK 0\;Bb Q OBFGCBIS YIZG HI BKNHRDKEBI ;D %HIVRMYDHS DKEGKXFCL HI TCGFDEEBLK ;DH ICbGYB<TG 7GKb\HDb ;D HI &DVRDCCI DK +BUI= #R< CDNGCUI< DK HI<BVHD<BI< D<FRWBDCGK UICEI;I< TGC HI ;D<FCREEBLK ;D HG< CDFIYHG< IKFDCBGCD< Q HI <R<FBFRXEBLK TGC UG;DHG< EH\<BEG<= #R< GYCI< <D EICIEFDCBbIK TGC HI <GYCBD;I; Q HI D<EI<Db ;DUIFDCBIHD<= *KFCD <R< ;B<EMTRHG< TG;DUG< ;D<FIEIC I eIEBKFG %CFBb Q eRIK .D<MI=

*K -GHBWBIS DH KDGEHI<BEB<UG Q DH CGEGEL ITICDEDK NR<BGKI;G< DK HG< CDFIYHG<HIFDCIHD< Q TkHTBFG ;D HI EIFD;CIH ;D #RECDS HG< CDFIYHG< Q TkHTBFG ;D HI BVHD<BI EGKWDKXFRIH ;D #IKFI $DCD<I Q DH CDFIYHG ;DH ECREDCG ;D #IKFG )GUBKVGS DK HI UB<UI EBR;I;=

*K ERIKFG I HI< <BHHDCMI< ;D EGCGS DKEGKFCIUG< IHVRKG< D<TH_K;B;G< DZDUTHG< CDIHBbI;G<DK UI;DCI= *H DZDUTHG U\< IKFBVRG D< DH ;D HI EIFD;CIH ;D HI 3HIFI :#RECD>S GYCI ;D 0CB<FLYIH;D !B;IHVGS CDIHBbI;G DKFCD fAg? Q fAgA= *K +BUI aIQ ^RD CD<DdIC ;G< DZDUTHG< ^RD <DDKERDKFCIK DK HI EIFD;CIH5 TGC RK HI;G HI EIZGKDCMI ;D HI <IECB<FMIS GYCI ;D fi@j Q CDIHBbI;ITGC eRIK .ICFMKDb ;D 'CCGKIS Q TGC GFCG HI <BHHDCMI ;D EGCG CDIHBbI;I TGC 3D;CG ,GVRDCI DKfi?i DK <GEBD;I; EGK +RB< %CFBb ;D OICVI< Q .ICFMK 'HGK<G ;D .D<I= *K HI EIFD;CIH ;D0RbEG ;D<FIEI HI <BHHDCMI ;D EGCG YICCGEIS CDIHBbI;I DKFCD fiAs Q fisj TGC 7BU_KDb ;DOBHHICCDIHS ̂ RBDK aIC\ RKI <BUBHIC DK #IK 2CIKEB<EG ;D #RECD=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?ff

e%#/ )* 0'#$"++'= '+$'& .'1%& )* +' "7+*#"' )* e*#r# .'&6'S+".' :fs@j>=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?f?

.'$6'# .'*#$&%= '+$'& .'1%& )* +' "7+*#"' )* #', 2&',0"#0%S+".' :fj@A>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?fp

#*+*00"J, )* ".47*,*#

3*)&% ,%78*&' :3*&r>= 0%&% )* +' 0'$*)&'+ )* +".'S fi?i=

+I EIFD;CIH ;D +BUI <D EGUBDKbI I EGK<FCRBC I TICFBC ;D fApA= *K fAhs +BUIS ZRKFGI ._cBEG Q #IKFG )GUBKVG NRDCGK DHDWI;IS +DLK ;D ,BEICIVRI Q3GTIQ\KS #IKFBIVG ;D 0aBHD Q 0aICEI<= 3GC RK FBDUTGS TCGYIYHDUDKFD NRD +BUIS HIEBCERK<ECBTEBLK DEHD<B\<FBEI U\< DcFDK<I ;DH URK;G=

*K DH BKFDCBGC ;D HI EIFD;CIH ;D<FIEI HI <BHHDCMI ;D EGCG CDIHBbI;I TGC 3D;CG ,GVRDCIDK fi?i DK <GEBD;I; EGK +RB< %CFBb ;D OICVI< Q .ICFMK 'HGK<G ;D .D<I= ,GVRDCIS ;DGCBVDK D<TIdGHS <D D<FIYHDEBL DK 3DCk DK fifgS FCIYIZIK;G EGK .ICFMKDb ;D 'CCGKI=*K fi?? BKBEBL DH CDFIYHG ;D #IK 2CIKEB<EG ;DH 0IHHIG QS DKFCD fi?p Q fih@S CDIHBbL HIGYCI ;D DK<IUYHIZD ;D HI <BHHDCMI ;DH EGCG ;D HI EIFD;CIH ;D +BUIS ^RD <D EGK<B;DCI <RGYCI U\< ;D<FIEI;I Q RKI ;D HI< U\< CDTCD<DKFIFBWI< ;DH ICFD WBCCDBKIH IUDCBEIKG=)D<TR_< ;DH NIHHDEBUBDKFG ;D .ICFMKDb ;D 'CCGKIS <D aBbG EICVG DK fipA ;D HI FDCUBXKIEBLK ;D HI< GYCI< ;D HI TGCFI;I ;D HI EIFD;CIH ;D +BUIS Q DK fipj NRD ;D<BVKI;GUID<FCG UIQGC ;D HI< GYCI< ;D HI EIFD;CIH=

+I <BHHDCMI TCD<DKFI HI D<FCREFRCI EH\<BEIS ;D<FIEIK;G HG< CDHBDWD< <GYCD HG< I<BDKFG<S;DEGCI;G< EGK NBVRCI< ;D HG< ITL<FGHD< YDHHIUDKFD FIHHI;G< Q NHIK^RDI;G< TGC EGHRUXKI< ;D NR<FD D<FCBI;G Q CDUIFI;G< TGC NCGKFGKD< <DUBEBCERHICD< TICFB;G<= *<FD ERDCTG

D<F\ EGCGKI;G TGC RK ;D<ICCGHHI;G DKFIYHIUDKFG EGUTRD<FG TGC DHDUDKFG< NHGCIHD< QWDVDFIHD<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?fh

-'+$'#'& 7'O"+4, :3*&r>= +' .8*&$* '&q8*&'S #"7+% `O"""=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?fA

*<FI GYCIS TDCFDKDEBDKFD I HI %C;DK ;D #IK 'VR<FMKS +BUIS NGCUIYI TICFD ;D RKTI<G ;D #DUIKI #IKFI CDIHBbI;G TGC -IHFI<IC 7IWBH\K= +I CDTCD<DKFIEBLK ;D HI URDCFDD< RKI EGK<FIKFD DK FG;G DH EGKFBKDKFD "YDCGIUDCBEIKGS TDCG D< ^RBb\< DK ._cBEG Q3DCkS ;GK;D IHEIKbI <R< UIQGCD< EGFI<=

*<FI TBDbI KG< aIYHI ;D HI YCDWD;I; ;D HI WB;IS ;D HI TCD<DKEBI BUTHIEIYHD ;D HIURDCFDS ^RD BVRIH ^RD RK ERTB;GS FDK<I <R ICEG DK YR<EI ;D <R TCD<I= +I NBVRCIS ;DVCIK ;CIUIFB<UGS ITICDED GERTIK;G RK HRVIC ;D<FIEI;G DK ;B<FBKFG< FkURHG< NRKDCIXCBG< ^RD <D HDWIKFICGK I HG HICVG ;DH <BVHG `O""" DK HI EIFD;CIH= '<M EGK GEI<BLK ;D HIURDCFD ;D HI CDBKI "<IYDH ;D 2ICKD<BG :fsij>S ;D HG< ICbGYB<TG< 3D;CG 'KFGKBG ;D-ICCGDFI Q 4KVDH :fssi> Q )BDVG 'KFGKBG ;D 3ICI;I :fsjf>S Q ;DH CDQ 0ICHG< """:fsjg>S ITICDED CDTCD<DKFI;I DK HG< VCIYI;G< ^RD <D CDIHBbICGK ;D HG< ;B<FBKFG< FkURXHG< NRKDCICBG<=

',J,".% :3*&r>= *+ #*P%& )* +%# $*.-+%&*# S 0'= fAs@=

*K HI EIFD;CIH ;D 0RbEG <D WDKDCI RKI BUIVDK ;D VCIK ;DWGEBLK DK HI EBR;I;= #DFCIFI ;DH #DdGC ;D HG< $DUYHGCD<S DK IHR<BLK IH FDCCDUGFG ^RD I<GHL HI EBR;I; DK fiA@=%CBVBKICBIUDKFD D<FI BUIVDK DCI EGKGEB;I EGUG DH 0CB<FG ;D HI -RDKI .RDCFDS TDCGFCI< <R BKFDCUD;BIEBLK DKFCD DH TRDYHG Q HG< KRUDCG<G< FDCCDUGFG< ;D HI bGKIS ^RD;LEGK D<FD KGUYCD=

#DVkK HI FCI;BEBLK HGEIH <D FCIFI ;D RK CDVIHG ;DH DUTDCI;GC 0ICHG< O I HI EBR;I;TICI TIHBIC DH TG;DC ;D<FCREFBWG ;D HG< FDCCDUGFG<= 'RK^RD CDIHUDKFD <D FCIFI ;D RKIGYCI CDIHBbI;I DK IHVkK FIHHDC HGEIH Q ;D UICEI;G EIC\EFDC TGTRHIC= "EGKGVC\NBEIUDKXFDS <D FCIFI ;D RK 0CB<FG URDCFG ;D FCD< EHIWG< Q IEDKFRI;G ;CIUIFB<UG= *<FD CI<VG <DWD TGFDKEBI;G TGC <R EGHGC G<ERCGS NCRFG ;DH aRUG ;D HI< WDHI< Q ;DH TGHWG=

+I BUTGCFIKEBI ;D D<FI BUIVDK ^RD;I ;D UIKBNBD<FG ERIK;G DH g ;D DKDCG ;D fj?A<D ZRCI IKFD DHHI HI "K;DTDK;DKEBI &DIH ;DH TIM<= '<B<FBDK;G HG< U\< IHFG< UBDUYCG< ;DHDZ_CEBFG Q DH VDKDCIH #BULK -GHMWIC=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?fi



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?fs

-*&,'&)% +*7'&)' :*08')%&>= O"&7*, )* q8"$%S #"7+% `O"""

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?fj

8KI ;D HI< BEGKGVCINMI< U\< CDTCD<DKFIFBWI< ;D HI D<ERHFRCI ^RBFDdIS D< HI HHIUI;IOBCVDK IHI;I G OBCVDK ;D qRBFGS ECDIEBLK ;D -DCKIC;G +DVIC;I= #D FCIFI ;D RKI"KUIERHI;I EGK IHI<S ^RD FBDKD EGUG TDIKI HI HRKIS TB<I EGK <R< TBD< HI EIYDbI ;D HI<DCTBDKFD Q TCD<DKFI RKI EGUTG<BEBLK ;D VCIK UGWBHB;I;= *<FD UG;DHG BEGKGVC\NBEGaIQ ^RD DKFCGKEICHG EGK HG< CDTDCFGCBG< UD;BDWIHD<S ;GK;D HG< <DCD< IHI;G< FBDKDK RKTITDH NRK;IUDKFIH= %FCG ;D HG< CI<VG< U\< TDERHBICD< ;D D<FI BUIVDK D< HI BKNHRDKEBI;D HI D<F_FBEI NBHBTBKIS <GYCD FG;G DK HI ;DEGCIEBLK ;DH UIKFG EGK RKI TGHBECGUMI Q;GCI;G< ;D VCIK BUTIEFG WB<RIH=

+I NBVRCIS ;D <DCDKI YDHHDbIS KG D<EGK;D <R BKNHRDKEBI D<TIdGHIS <GYCD FG;G IK;IXHRbIS DK HI NBKRCI Q <DK<RIHB;I; ;DH CG<FCG= #BK DUYICVGS +DVIC;I CDIHBbI RKI EGUTGX<BEBLK IY<GHRFIUDKFD GCBVBKIH IH NR<BGKIC EICIEFDCM<FBEI< ;D ;BWDC<G< GCMVDKD<S aI<FIEGK<DVRBC RK KRDWG UG;DHG BEGKGVC\NBEG ;D VCIK TDC;RCIYBHB;I; Q DcFDK<BLK TGCFG;G DH WBCCDBKIFG=

.',8*+ 0!"+"S 0'#3"0'&' :*08')%&>= #4-',' #',$'S #"7+% `O"""

eRKFG EGK -DCKIC;G +DVIC;IS DH GFCG VCIK ECDI;GC ;D HI D<ERDHI ^RBFDdI D< .IKRDH0aBHB HHIUI;G 0I<TBEICI [ TBDH ;D TIHG]S [E\<EICI ;D TIHG] G [E\<EICI ;D UI;DCI] DKRKI EHICI IHR<BLK I <R GNBEBG=

*KFCD <R< GYCI< TG;DUG< ;D<FIEIC D<FD VCRTG D<ERHFLCBEG ^RD D< DKERDKFCI DK HIEIFD;CIH ;D qRBFG Q ^RD CDEGVD DH UGUDKFG DK ^RD DH ERDCTG <BK WB;I ;D eD<k<S D<F\<BDK;G DKWRDHFG DK HI <\YIKI <IKFI TICI <DC DKFDCCI;G= *H VCRTG EGUTRD<FG TGC

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?fg

ERIFCG NBVRCI< TCD<DKFI RK VCIK ;CIUIFB<UGS EGKEDKFCI;G DK HI NBVRCI ;D eD<k<S ZRKFGEGK HI <DCDKB;I; Q CD<BVKIEBLK ;D HI< <IKFI< URZDCD< Q #IK eRIK ^RD CG;DIK I HINBVRCI EDKFCIH=

0I<TBEICI <RTG IRKIC HI< DK<DdIKbI< ;D <R UID<FCGS -DCKIC;G +DVIC;IS EGK RKHDKVRIZD U\< EICKIH Q <DK<RIH= *<FG HG ITCDEBIUG< DK DH D<FR;BG IKIFLUBEG ;DH ERDCTG;D<KR;G ;D eD<k< ^RD EGKFCI<FI EGK HI <GHB;Db ;D HG< ERDCTG< WD<FB;G< ;D HI< NBVRCI<^RD CG;DIK IH QIEDKFD=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$??@

'3/,)"0* )%08.*,$'+

"= +' *#08+$8&' *, *+ 3*&rf

*K <R ,RDWI ECLKBEI Q YRDK VGYBDCKGS D<ECBFI I EGUBDKbG< ;DH <BVHG `O""S 2DHBTD7RIU\K 3GUI ;D 'QIHI CDEGUDK;IYI DH ERHFBWG ;D HI< ICFD< DKFCD HG< BK;MVDKI< TGC<R UIKBNBD<FI RFBHB;I; TICI HI YRDKI UICEaI ;DH WBCCDBKIFG= ,G DKEGKFCL UDZGC DZDUXTHG ^RD HI D<ERHFRCIS Q IHHM UB<UG ;BYRZL I ;G< ICFMNBED< KIFBWG< TGHBECGUIK;G RK0CB<FG ECREBNBEI;G= 0GK DHHG ;DUG<FCIYI KG <LHG HI TDCFBKDKEBI ;D D<FG< GNBEBG<S <BKG HIBUTGCFIKEBI ECREBIH ^RD HI< BU\VDKD< ;D ERHFG BYIK I;^RBCBDK;G DK HI ECB<FBIKBbIEBLK;DH 3DCk= *K ITGQG ;D D<FI B;DIS I<DVRCIYI DH ECGKB<FI ^RD [WBDK;G HI< <IKFI< aDEaRXCI< KG< IEGC;IUG< ;DH <DCWBEBG ;D )BG<]= 1 TGC FIKFGS DCI RK TCBWBHDVBG ^RD HG<ECB<FBIKG< ;DH ,RDWG .RK;G <D EGKEDCFICIK TICI HI aDEaRCI Q <DUDZIKbI ;D )BG<=$CI< WICBI< VDKDCIEBGKD< ;D FCIYIZG ICFM<FBEG BKED<IKFDS HI< CDTCD<DKFIEBGKD< D<ERHFLCBXEI< ;D 0CB<FGS HI OBCVDK Q HG< <IKFG< TCD<B;MIK TGC DKFGKED< FG;I< HI< BVHD<BI< ;DH TIM<Q aIYMIK ICCIBVI;G EGK VCIK NRDCbI DK DH BUIVBKICBG IK;BKG=

*< CDWDHI;GCI HI UDKEBLK <BURHF\KDI ^RD aIED 7RIU\K 3GUI ;D HG< GNBEBG< ;DDKFIHHI;GCS TBKFGCS D<ERHFGC Q YGC;I;GC= #R< TIHIYCI< EGKNBCUIK ^RDS HDZG< ;D <DC RKV_KDCG IB<HI;GS HI D<ERHFRCI ;DTDK;MI ;D RKI EGUTHDZI UBcFRCI ;D GNBEBG< EGUTHDUDKXFICBG<= #BK ;R;IS HI HDKFI I;ITFIEBLK ;D D<I< WBDZI< GERTIEBGKD< ICFD<IKIHD< I HI<KDED<B;I;D< ;DH UD;BGS EGK<FBFRQD RK EITMFRHG ECREBIH DK HI aB<FGCBI ;DH ICFD IUDCBEIXKG= +I GKUBTCD<DKEBI ;D HI D<ERHFRCI <D TGK;CMI ;D UIKBNBD<FG DK HI< ;BWDC<I< NRKEBGXKD< ^RD ERUTHBL I HG HICVG ;DH WBCCDBKIFGS I;<ECBFI I CDFIYHG<S <BHHDCMI< Q TGCFI;I<SBKEGCTGCI;I I D<FCREFRCI< DNMUDCI<S G WDKDCI;I DK NGCUI ;D BU\VDKD< TCGED<BGKIHD< Q;DWGEBGKD< TCBWI;I<=

""= +' *#08+$8&' q8"$*P'?

0GUG DK DH CD<FG ;D "YDCGIU_CBEIS qRBFG CDEBYBL UREaI< D<ERHFRCI< CDHBVBG<I< D<TIdGHI<EGKFCIFI;I< I HG< FIHHDCD< VCIKI;BKG< Q <DWBHHIKG<= *<FI< BKNHRQDCGK KGFGCBIUDKFD DK DHITCDK;BbIZD Q TCG;REEBLK ;D HI< VDKDCIEBGKD< ;D ICFB<FI< NGCUI;G< DK HI *<ERDHI ;D #IK'K;C_<S HI TCBUDCI DK <R CIUG NRK;I;I DK DH 0GKWDKFG ;D #IK 2CIKEB<EG DK qRBFG= 'HBKBEBG HHDVICGK TBDbI< IFCBYRB;I< I 7I<TIC ;DH 'VRBHIS eDCLKBUG !DCK\K;Db Q ;DH $IHHDC ;DHG< O\b^RDb= #D EGKGEDS TGC EBFIC RK DZDUTHGS ̂ RD DH aBZG ;D 'FIaRIHTI DKEICVL DK fAjjRKI #IKFI 0IFIHBKI ;D #BDKI I O\b^RDb *H eGWDK= 'H TCD<DKFD D<FI BUIVDK <D aIHHI DK RKG;D HG< IHFICD< ;D D<^RBKI ;D #IK 2CIKEB<EG= 8KG ;D HG< D<ERHFGCD< D<TIdGHD< ̂ RD <D CI;BELDK qRBFG NRD )BDVG ;D &GYHD< I ̂ RBDK <D HD CDERDC;I TGC HI OBCVDK ;DH qRBKEaD ;D CGUDX

f= {822'&)*,S +RB< *;RIC;GS [*<ERHFRCI= CDFIYHG< D BUIVBKDCMI DK DH WBCCDBKIFG]S DK 3DCk

BK;MVDKI Q WBCCDBKIH S .I;CB;S #GEBD;I; *<FIFIH TICI HI 'EEBLK 0RHFRCIH *cFDCBGCS ?@@hS 3\V= jj=?= o*,,*)1S 'HDcIK;CIS [+I D<ERHFRCI ^RBFDdI]S DK !B<FGCBI ;DH 'CFD "YDCGIUDCBEIKG S -ICXEDHGKIS +RKtDCVS ?@@@S 3\V= f@j=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ??f

CBIKFD< DK DH EGKWDKFG ;D 7R\TRHG= /H FRWG D<TDEBIH BUTIEFG DK HI DK<DdIKbI I HG< KRDWG<ICFB<FI< BK;BG< Q UD<FBbG<=

qRBb\< HI U\< ;D<FIEI;I BKNHRDKEBI D<TIdGHI NRD HI ;D ICFB<FI< ;D HI <BVRBDKFDVDKDCIEBLKS DH <DWBHHIKG eRIK .ICFMKDb .GKFId_< Q HG< VCIKI;BKG< 'HGK<G 0IKG Q3D;CG ;D .DKI= +BVI;G< IH D<FBHG ;D .DKI TG;DUG< ITCDEBIC RK <BKKkUDCG ;D #IK3D;CG< ;D 'HE\KFICI Q #IK 2CIKEB<EG< ;D '<M< ^RD YI<I;G< DK HG< EGKGEB;G< TCGFGFBXTG<S HBFDCIHUDKFD BKRK;ICGK HG< D<TIEBG< ;D ;DWGEBLK FIKFG EBWBHD< EGUG DEHD<B\<FBEG<;D HI 'R;BDKEBI aI<FI YBDK DKFCI;G DH <BVHG `"`=

' ;BNDCDKEBI ;D HI TBKFRCI ^RD ;D<;D DH BKBEBG CDEBYBL BKNHRDKEBI< <BURHF\KDI< ;D URQ;BWDC<G GCBVDK Q D<FBHGS HI D<ERHFRCI ̂ RBFDdI ;D UI;DCI TGHBECGUI;I ̂ RD;L DK ;DR;I EGKHI IK;IHRbI DK <R BEGKGVCINMIS <R D<FBHG Q <R F_EKBEIS aI<FI NBKIHD< ;DH <BVHG Ò""= 8KCDIHB<UG URQ UICEI;GS IQR;I;G TGC RKI DcEDHDKFD F_EKBEI EICIEFDCBbI;I TGC RK DKEICKIX;G YCBHHIKFDS <BKVRHICBbICGK HI TCG;REEBLK ;D qRBFG ;RCIKFD D<FG< ;G< <BVHG<=

#BK DUYICVGS I TICFBC ;D ITCGcBUI;IUDKFD fsp@S HI D<ERHFRCI ^RBFDdI YICCGEI QCGEGEL ;BL TI<G I RK HDKVRIZD U\< TCGTBG BKEGCTGCIK;G DK <R CDTDCFGCBG I<TDEFG<UD;BDWIHD< ;D VCIK BKFDC_< EGUG DH ;D HI CDTCD<DKFIEBLK <B<FDU\FBEI Q IYRK;IKFD ;D<DCD< IHI;G<5 #IK 2CIKEB<EGS #IKFG $GU\< ;D '^RBKGS HI OBCVDK 'TGEIHMTFBEI G DH<BKKkUDCG ;D \KVDHD< Q ICE\KVDHD< ^RD ;DEGCICGK HG< CDFIYHG< ;D HI< BVHD<BI< G HG<IHFICD< TGCF\FBHD< TCBWI;G<= '<M UB<UGS I<BUBHL BKNHRDKEBI< NBHBTBKI< DK HI ;DEGCIEBLK ;DUIKFG< Q FkKBEI< EGKWDCFB;G< DK WDC;I;DCG< UIKFGKD< ;D .IKBHIS FIH EGUG TG;DUG<ITCDEBIC DK RK #IK eG<_ EGK DH ,BdG DK DH .R<DG ;D #IK 2CIKEB<EG=

+I VCIEBIS DH EGHGCB;G Q <GYCD FG;G HI DcFCIGC;BKICBI F_EKBEI ;D ICFB<FI< EGUG -DCKIC;G+DVIC;I G 0I<TBEICIS TDCUBFBDCGK ^RD D<FD CRYCG ICFM<FBEG <D DcTGCFI<D DK EIKFB;I;D<EGK<B;DCIYHD< I *<TIdIS "FIHBI Q HI 'U_CBEI 3IEMNBEIS NDKLUDKG ̂ RD ;RCL aI<FI ITCGcBUIX;IUDKFD fjs@= +I VCIK ;DUIK;I TGC D<FD TCG;REFG ;D YIZG EG<FGS GYHBVL I HG< ICFB<FI<BK;DTDK;BDKFD< I FCIYIZIC ECDIK;G RK <B<FDUI ;D [IFIZG<]5 R<G< ;D UI<EICBHHI< ;D D<FIdGTICI HG< CG<FCG< G HI WDKFI ;D EIYDbI< Q UIKG< I <DC ICUI;G< DK HG< HRVICD< ;D ;D<FBKG IUIKDCI ;D D<ERHFRCI< ;D WD<FBCS TGC DKFGKED< DK ;D<R<G DK *RCGTI= )D D<FD UG;GS ;D<;DHG< FIHHDCD< ^RBFDdG< <D DcTDK;BDCGK RKI <DCBD ;D D<ERHFRCI< FBTG EGUG HG< EGKGEB;G<EIHWICBG<S WMCVDKD< ;D qRBFGS ICE\KVDHD<S ,BdG< )BG< DK RCKI< ;D ECB<FIH G ECB<FG< ECREBNBEIX;G<S ERQI< NGCUI< Q IEFBFR;D< ;DHIFIYIK TGEG G KI;I HI TCD<DKEBI ;DH BK;MVDKI v<B ;DHUD<FBbGv Q ^RD TDCUBFMIK EITFIC RK IUTHBG Q ;BWDC<G UDCEI;G= *< ^RBb\< D<FD V_KDCGICFM<FBEG DH ̂ RD ;BL TI<G I HI ;DKGUBKIEBLK FIC;MI ;D *<ERDHI ;D qRBFG Q ̂ RD TGC DcFDK<BLKNRD ITHBEI;I IH CD<FG ;D HI IYRK;IKFD TCG;REEBLK ICFM<FBEI ;D HI CDVBLK=

"""= +' *#08+$8&' O"&&*",'+ *, -%+"O"'p

)RCIKFD HG< <BVHG< Ò"S Ò"" Q Ò"""S -GHBWI EGK<FBFRQLS EGK RKG< HMUBFD< U\<IUTHBG< ^RD HG< IEFRIHD<S HI 'R;BDKEBI ;D 0aICEI< ^RD NGCUL TICFD ;DH OBCCDBKIFG

p= .*#'S eG<_ ;Dl 7"#-*&$S $DCD<IS *<ERHFRCI WBCCDBKIH DK -GHBWBI S +I 3IbS 'EI;DUBI ,IEBGXKIH ;D 0BDKEBI< ;D -GHBWBIS fgs?S 3\V<= fpXfA=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$???

3DCRIKG aI<FI DH IdG ;D fssiS DK D<FI NDEaI <D NRK;L DH OBCCDBKIFG ;D -RDKG< 'BCD<Q HI 'R;BDKEBI NRD ;D<UDUYCI;I ;DH OBCCDBKIFG ;DH 3DCk TICI TI<IC I NGCUIC TICFD ;DHKRDWG OBCCDBKIFGS aDEaG ^RD ZRCM;BEIUDKFD ;RCL aI<FI fjff= +G< NDKLUDKG< ICFM<FBEG<^RD FBDKDK HRVIC DK HI 'R;BDKEBI ;D 0aICEI< KG TRD;DK <DC D<FR;BI;G< <BK FDKDC DKERDKFCI D<FD aDEaG QI ^RD DH D<FR;BGS NGCbG<IUDKFDS ;DYD EGK<B;DCIC bGKI< ^RD aGQKG ;DTDK;BDCGK aI<FI NBKD< ;DH <BVHG TI<I;G ;DH %YB<TI;G ;D +I 3Ib Q ERQG ICFD <DaIHHI BK;B<GHRYHDUDKFD HBVI;G I HI bGKI=

%FCG I<TDEFG ^RD KDED<ICBIUDKFD ;DYDC\ FDKDC<D DK ERDKFI D< HI NRDCFD UBVCIEBLK;D ICFB<FI<S <GYCD FG;G DK DH <BVHG Ò" Q EGUBDKbG< ;DH Ò""S KG <GHG ;D TDKBK<RHICD<^RD WDKMIK I 0aICEI< I D<FIYHDEDC<DS <BKG DH BC Q WDKBC ;D _<FG< ;D KGCFD I <RC Q ;D <RCI KGCFD FCIQDK;G Q HHDWIK;G D<FBHG< Q NGCUI< ;D FCIYIZG= *H FCI<HI;G ;D HG< ICFB<FI< QICFD<IKG< KG NRD DcEHR<BWG ;D HG< D<TIdGHD<S TRD< ECBGHHG< D BK;BG< aIEDK HG UB<UG=*<FD NIEFGC GYHBVIS UREaI< WDED<S <BVRBDK;G I HG< ICFMNBED< Q <BVRBDK;G HI< GYCI< ;DICFD ;DFDCUBKIKFD<S CDNDCBC<D I EDKFCG< ^RD KG D<F\K DK -GHBWBIl +BUIS HG< TRDYHG<CBYDCDdG< ;DH +IVG $BFBEIEI DK HI bGKI ;DH 3DCkS 0RbEG Q IkK -RDKG< 'BCD< <GKTRKFG< ;D CDNDCDKEBI GYHBVI;G<= *H ICFD ;DKFCG ;D HG< HMUBFD< ;D EI;I WBCCDBKIFG FBDKD^RD EGK<B;DCIC<D EGUG RK FG;GS EGUG IHVG EGKFBKRG D BK;BWB<BYHD=

*H FCIYIZG ;D HG< D<ERHFGCD< ;DTDK;MI ;D HG< FDUTHG< ^RD <D D;BNBEI<DK= *K DH <BVHGÒ" DH FCIYIZG NRD EI<B RKBNGCUD DK DH WBCCDBKIFG <IHWG DK EDKFCG< VCIK;D< EGUG +BUIS;GK;D HI UIVKBFR; ;D HI EBR;I; DcBVMI UIQGC EGKEDKFCIEBLK ;D ICFB<FI<= ' TICFBC ;DfAj@ DK ^RD <D I<BDKFI HI WB;I EBR;I;IKI DK FG;G DH FDCCBFGCBG Q DK ^RD HI< LC;DKD<CDHBVBG<I< Q TICCG^RBI< ;D BK;BG< D;BNBEIK DK FG;G DH 3DCkS TIRHIFBKIUDKFD <D WI CIHBXbIK;G RKI D<TDEBD ;D GC;DKIUBDKFG ;DH FCIYIZG ^RD HHDWI I HG< D<ERHFGCD< ;D IE\ TICIIHH\ DK RK EGKFBKRG ;DIUYRHIC ^RD <IHD ;D HI EG<FI Q HHDWI aIEBI HI< FBDCCI< IHFI< TIFICFDCUBKIC DK 3GFG<M Q 0aR^RB<IEI ;GK;D HI IWDKFRCI DEGKLUBEI Q HI TDCUIKDKEBI ;DHI< FCI;BEBGKD< D<F_FBEI< DCIK TCGTBEBI< TICI HG< ICFB<FI< QI UI;RCG< Q INDCCI;G< I <RECD;G ICFM<FBEG= )RCIKFD DH <BVHG Ò" DH WBIZD TIKXWBCCDBKIH D< GYHBVI;G TICI FG;G<I^RDHHG< aGUYCD< ^RD ERHFBWIK DH ICFD DK ERIH^RBDCI ;D <R< UIKBND<FIEBGKD<5 -DEDCCICDEGCCD ;D<;D +BUI I 0RbEGl -BFFB WBIZI Q TBKFI DK FG;G DH WBCCDBKIFGl I HG< !DCK\K;DbHG< aIHHIUG< ;D<;D +BUIS TI<IK;G TGC DH 0RbEG aI<FI 3GFG<M Q 0aB^RB<IEI= 0GUG^RD;I ;BEaG KG <LHG <D URDWDK HG< ICFB<FI< D<TIdGHD< G DRCGTDG<S FIUYB_K HG< BK;BG<^RD <D ;D;BEIK IH ICFDS WBIZIK Q EIUYBIC ;D HRVIC= -I<FI UDKEBGKIC HI TDCDVCBKIEBLK;D 2CIKEB<EG $BFG 1RTIK^RB5 0GTIEIYIKIS 3GFG<MS 0aR^RB<IEIS 'QGXIQGS +I 3IbS 0GXTIEIYIKIS TICI TG;DC INBCUIC KRD<FCG I<DCFG=

!IEBI EGUBDKbG< ;DH <BVHG Ò"" HI TDCDVCBKIEBLK ICFM<FBEI EGKFBKkIS I<M <RED;D EGKD<ERHFGCD< Q TBKFGCD< ^RD WIK ;D RK <BFBG I GFCG IRK^RD DH CI;BG ;D ;D<THIbIUBDKFG D<UDKGC DK HI UIQGCMI ;D HG< EI<G<= +I CRFI R<RIH D< 0RbEGS +IVG $BFBEIEIS +I 3IbS3GFG<MS 0aR^RB<IEIS ^RD D< CDEGCCB;I DK IUYG< <DKFB;G< TGC UREaG< UID<FCG<S IHVRXKG< ;D DHHG< BK;BG<= ,G NIHFIKS <BK DUYICVG HG< ICFB<FI< ^RD <BVRDK WBKBDK;G ;D +BUI IHI< FBDCCI< IHFI<S DH UDZGC DZDUTHG ;D DHHG< D< .ICFMK ;D %WBD;G ^RD HHDVI ;D ._cBEG I+BUI Q ;D IHHM WI I TICIC I 3GFG<M=

'WIKbI;G DH <BVHG DH VCRTG ;D D<ERHFGCD< ;D I<EDK;DKEBI <DWBHHIKI ^RD FCIYIZI DK+BUIS ;D<TR_< ;D HI TRZI ;D HI #BHHDCMI ;DH 0GCG ;D HI 0IFD;CIH ;D +BUI <D ;B<TDC<I QRKI TICFD ;DH UB<UG DUTCDK;D DH EIUBKG ;DH ;D<DKVIdGS ^RD TICDED EGK;REBC ;D HIYCBHHIKFD EGCFD HBUDdI I HI< BKaL<TBFI< FBDCCI< ;DH VCIK 3GFG<MS ;GK;D ^RBb\< <D YR<EI

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ??p

U\< HI GTGCFRKB;I; ;D UD;CG ^RD HI TC\EFBEI ;DH ICFD= #BK DUYICVG HG< ;DCCGFDCG<ICFM<FBEG< ;D HG< UID<FCG< D<ERHFGCD< ;D HI EIHB;I; ;D 7I<TIC ;D HI 0RDWIS *<TMK;GHIS2IYB\K 7DCLKBUG 'HEGEDCS ;DZIK HG UDZGC ;D <R GYCI DK 3GFG<M Q 0aR^RB<IEI= !IEBIfiA@ ;D<ITICDEDK HG< kHFBUG< UID<FCG< ;D D<FI VDKDCIEBLK ^RD <D TRD;DK HHIUIC HI ;DHG< DUBVCIKFD<=

,G <D TRD;D <DTICIC ;D HI GYCI BKFDVCIH ;DH ICFB<FI FIH G ERIH D<ERHFRCI TGC^RD aGQHG< HMUBFD< ;D HI< KIEBGKD< KG <DIK HG< UB<UG< ^RD DK DH <BVHG Ò""= *<FG D< HG ^RD KG<GYHBVI I D<FR;BIC HI TCG;REEBLK D<ERHFLCBEI ;D D<FG< UID<FCG< DK HRVICD< FIK IHDZI;G<;D HI 'R;BDKEBI ;D 0aICEI< EGUG +BUI Q $CRZBHHG= $IH D< DH EI<G ;D 0RDWI Q *<TMK;GXHI= .\< IkKS HI< EGCCBDKFD< ICFM<FBEI< ;D HG< <BVHG< Ò" Q Ò"" <D ;D<ICCGHHIK TCBUDCG DKHI< EBR;I;D< ;D HI EG<FI TICI <RYBC HRDVG I HI FBDCCI IHFI= ,G <RED;D HG UB<UG EGK DHD<FBHG UD<FBbG ;DH <BVHG Ò""" ^RD TCG;REB;G DK 'CD^RBTIS DH +IVG $BFBEIEI Q 3GFG<MSDcFDK;DC\ <R BKNHRZG I HG< <BFBG< EG<FDCG<=

%FCI ;D HI< CIbGKD< ^RD aIEDK ^RD DH D<FR;BG ;D HI D<ERHFRCI CDYI<D HG< D<FCBEFG<HMUBFD< ;D HI KIEBLK YGHBWBIKI D< HI BUTGCFIEBLK ;D GYCI< ;D ICFD= )D<;D FDUTCIKG<;MI< ;D HI EGK^RB<FI IHVRKG< EDKFCG< ;DH WBCCDBKIFG <D EGK<FBFRQDCGK DK TCG;REFGCD<;D ICFD= &DEGC;DUG< DH EI<G ;D HI TBKFRCI ERb^RDdI ^RD DK DH <BVHG Ò"""S DcTGCFIERI;CG< I +BUIS #IKFBIVG Q HI 'R;BDKEBI ;D 0aICEI<= 2DKLUDKG <BUBHIC <RED;D EGK HID<ERHFRCI ;D<;D DH 0RbEG= *<ERHFGCD< ^RD FCIYIZIK DK DH 0RbEG WBIZIK I 0aR^RB<IEID<TDEBIHUDKFD EGKFCIFI;G<= OIHVI DH DZDUTHG ;D 7BU_KDb ;D OBHHICCDIH ^RD aIED HI<BHHDCMI ;DH 0GKWDKFG ;D #IK 2CIKEB<EG ;D 0aR^RB<IEI=

' <R WDb DH 0GHHIG Q DK D<TDEBIH DH +IVG $BFBEIEI <GK DK ;DFDCUBKI;G UGUDKFG RKEDKFCG ;D VCIK TCG;REEBLK ;D D<ERHFRCI= +G< UID<FCG< BK;MVDKI< EGUG $BFG 1RTIK^RBQ #DYI<FB\K 'EG<FI $GTI "KEI <GK HG< ECDI;GCD< ;D RK EMCERHG ;D D<ERHFGCD< BK;BG<^RD HHDWIK <R ICFD KG <LHG IH BKFDCBGC ;D HI 'R;BDKEBI <BKG ^RD ;D<;D 0GTIEIYIKI <DDcTGCFIK D<ERHFRCIS 0GEaICEI<S Q IkK aI<FI HI HDZIKI#DWBHHI :*<TIdI> DK ;GK;D <D DKERDKFCI RKI BUIVDK BK;MVDKI ;D HI OBCVDK "K;BI ;DH+IVG=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$??h

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ??A

0'36$8+% #/3$".%'&$* *, *+ -&'#"+ )*+ -'&&%0% ' +' '0')*."'

f= ",$&%)800"J,

+I< ICFD< TH\<FBEI< DK -CI<BHS ;RCIKFD HG< FCD< <BVHG< ;D <GYDCIKMI TGCFRVRD<IS D<F\KHBVI;I< I HG< TCGVCIUI< IC^RBFDEFLKBEG< Q ICFM<FBEG< ̂ RD ;D<ICCGHHICGK HI< LC;DKD< CDHBVBGX<I< ̂ RD DUTCDK;BDCGK HI DWIKVDHBbIEBLK ;D D<FD DcFDK<G FDCCBFGCBG= )BEaI< LC;DKD< NRDCGK5HI 0GUTIdMI ;D eD<k<S ̂ RD NRD HI TCBUDCI DK D<FIYHDEDC<D DK fAhgS HG< NCIKEB<EIKG< ̂ RD HGaBEBDCGK DK fAjAS HG< EICUDHBFI< DK fAjiS Q HG< YDKD;BEFBKG< ^RD HHDVIK I D<FI bGKI DKfAg?= ';DU\<S aIQ ̂ RD IdI;BC HI< ITGCFIEBGKD< ;D HI< LC;DKD< FDCEDCI<S ;D aDCUIK;I;D< QEGNCI;MI< ̂ RDS DK ;DFDCUBKI;G< HRVICD< Q UGUDKFG< aB<FLCBEG<S TIFCGEBKICGK BUTGCFIKFD<EGKZRKFG< ICFM<FBEG<S BKECDUDKFIK;G DH CBEG TIFCBUGKBG ;D D<FD TIM<=

'aGCI YBDKS <B DH ICFD YCI<BHDdG D< NRK;IUDKFIHUDKFD CDHBVBG<GS <R D<FR;BG Q EGUXTCD<BLK KG D< TG<BYHD <BK FDKDC DK ERDKFI RKI <DCBD ;D EGK;BEBGKIUBDKFG< aB<FLCBEG<;D VCIK FCI<EDK;DKEBI= *K TCBUDC HRVICS EIYD <DdIHIC HI IR<DKEBI ;D BUTGCFIKFD< ERHXFRCI< TCDEGHGUYBKI< ^RD ;D<ICCGHHIK TCGVCIUI< IC^RBFDEFLKBEG< Q ICFM<FBEG<S FIHD< EGUGHI< ERHFRCI< IbFDEI G UIQI DK HI CDVBLK UD<GIUDCBEIKI G HI BKEI DK #R;IU_CBEIS Q^RDS EGK<BVRBDKFDUDKFDS TCGTGCEBGKIK RK <R<FCIFG ICFM<FBEG Q RKI UIKG ;D GYCI D<TDXEBIHBbI;I ^RD TDCUBFBDCI INCGKFICS ;D<;D RKI TDC<TDEFBWI KDFIUDKFD IUDCBEIKIS HI<KRDWI< ECDIEBGKD< ICFM<FBEI< WBCCDBKIHD<= *K <DVRK;G HRVICS ;RCIKFD D<FD TDCMG;G HG<EDKFCG< ICFM<FBEG< YCI<BHDdG< NRDCGK WICBIK;G G I;^RBCBDK;G UIQGC G UDKGC BUTGCFIKXEBI DK NRKEBLKS HLVBEIUDKFDS ;D HG< ;BNDCDKFD< EGK;BEBGKIKFD< TGHMFBEG<S DEGKLUBEG< QCDHBVBG<G< ^RD UICEICGK DH ;DWDKBC aB<FLCBEG ;D D<FI bGKI ;RCIKFD DH ;GUBKBG TGCFRXVR_<= '<MS ;RCIKFD HG< <BVHG< Ò" Q Ò"" HI TGYHIEBLK <D EGKEDKFCL DK HI NCIKZI HBFGCIHSDK HG< IEFRIHD< D<FI;G< ;D 3DCKIUYREGS -IaMIS *<TMCBFR #IKFGS &MG ;D eIKDBCG Q #…G3IRHG= *K DH <BVHG Ò"""S BC\ UGWBHBb\K;G<D aIEMI DH BKFDCBGC VCIEBI< I HI DcTHGFIEBLK ;DBUTGCFIKFD< CDERC<G< UBKDCG<S TGC HG ^RD HG< EDKFCG< ICFM<FBEG< ;D UIQGC <BVKBNBEIEBLKHG< DKEGKFCICDUG< DK .BKI< 7DCIB<S &MG ;D eIKDBCG v^RD <D YDKDNBEBIC\ ;DH EGUDCEBGUBKDCG Q <D EGKWDCFBC\ DK EITBFIH WBCCDBKIH DK fsipvS -IaMI Q 3DCKIUYREGS ^RDUIKFDK;C\K DH TCD<FBVBG ;D HI< EDKFRCBI< TCDED;DKFD<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$??i

+I EICDKEBI ;D RK <R<FCIFG ERHFRCIH TCDEGHGUYBKG ;D BUTGCFIKEBI ;DFDCUBKL ^RDSDK HG< ;G< TCBUDCG< <BVHG<S NRDCI EGKFBKkI HI BUTGCFIEBLK ;D<;D +B<YGI IH TRDCFG ;D-IaMI FIKFG ;D UIFDCBIHD< vEGUG D< DH EI<G ;D HI [TBD;CI ;D +BGb]vS EGUG ;D GYCI<QI FCIYIZI;I<S IH BVRIH ^RD ICFB<FI< TCGED;DKFD< ;D 3GCFRVIH <D D<FIYHDEDK DK -CI<BHSDKEICV\K;G<D ;D HG< FCIYIZG< U\< <BVKBNBEIFBWG<= #LHG I TICFBC ;D HI <DVRK;I UBFI; ;DH<BVHG Ò"" EGUBDKbIK I ;D<TRKFIC ICFB<FI< KIEB;G< Q NGCUI;G< DK DH TCGTBG TIM<S EGUGD< DH EI<G ;DH TICI;BVU\FBEG 'KFGKBG 2CIKEB<EG ;D +B<YGIS DH 'HDBZI;BKaGS ;D<ICCGHHIKX;G QI RKI KRDWI D<F_FBEI EGK EICIEFDCM<FBEI< TCGTBI< ;BNDCDKEBI;I<S Q DK HI ^RD HG<BKWD<FBVI;GCD< CDEGKGEDK HI VD<FIEBLK ;D HI [B;DKFB;I; KIEBGKIH] ;DH ICFD YCI<BHDdG=

3GC FIKFGS HI< UIKBND<FIEBGKD< ICFM<FBEI< ;D HG< <BVHG< Ò"S Ò"" D BKEHR<G ;D VCIKTICFD ;DH Ò"""S ;DTDK;BDCGK ;DH VR<FG Q HI< UG;I< TCGED;DKFD< ;D HI UDFCLTGHB<TGCFRVRD<IS ERQG ICFD UIKBND<FL TCBUDCG RKI NRDCFD BKNHRDKEBI BFIHBIKI Q HRDVG NCIKEDX<I ;RCIKFD DH CGEGELS aRDHHI< ^RDS HLVBEIUDKFDS <D FCI<HI;IK I -CI<BH= 0CGKGHLVBEIUDKXFD Q CDNHDZIK;GS EGUG <D aI ITRKFI;GS HG< TCGED<G< D<FBHM<FBEG< TGCFRVRD<D< <D TRD;DK;B<FBKVRBC FCD< VCIK;D< DFITI< DK HI< ICFD< TH\<FBEI< YCI<BHDdI<5 DH UIKBDCB<UGS WBVDKFD;D<;D NBKIHD< ;DH <BVHG Ò" Q TC\EFBEIUDKFD FG;G DH <BVHG Ò""S DH YICCGEG ^RD <D;D<ICCGHHL ;D<;D fig@ aI<FI fsi@S Q DH CGEGELS I TICFBC ;D D<FI kHFBUI NDEaIS Q EGKTCGHGKVIEBGKD< ;D WICBI;I DcFDK<BLK aI<FI HI TCBUDCI UBFI; ;DH <BVHG `"`=

"VRIHUDKFDS D<FI D<FCDEaI WBKERHIEBLK ;DH ICFD YCI<BHDdG EGK DH TGCFRVR_< WI I;DFDCUBKIC DH FBTG ;D UIKBND<FIEBGKD< ICFM<FBEI< U\< ;DUIK;I;I< Q <GYCD<IHBDKFD< ;RXCIKFD D<FD TDCBG;G WBCCDBKIH= +I IC^RBFDEFRCI HR<GXYCI<BHDdI <D EICIEFDCBbI TGC <R D<XFCREFRCI EH\<BEIS <DKEBHHG< WGHkUDKD< Q HI CDHIFBWI <GYCBD;I; ;DEGCIFBWI ;D <R< NIEaI;I<vEGKEDKFCI;I DK HG< NCGKFGKD< Q DKZRFI< ;D HG< WIKG< ;D HI< TGCFI;I<vS <DKEBHHDb QIR<FDCB;I; ^RDS <BK DUYICVGS EGKFCI<FIK EGK D<TIEBG< BKFDCBGCD< ;D VCIK CB^RDbI ;DXEGCIFBWI DK HG< ^RD CDFIYHG<S TkHTBFG< Q ;DU\< UGYBHBICBG DEHD<B\<FBEG <D EGUYBKI EGKGCKIUDKFG< ;D FIHHI ;GCI;I Q TGHBECGUI;IS TIKDHD< ;D IbRHDZDCMI Q TBKFRCI< BHR<BGKB<XFI< <GYCD HI< YLWD;I< ;D HG< FDUTHG<= *<FI TCGNR<BLK ;DEGCIFBWI TDCUBFD UG;RHICNRKEBGKIH Q WB<RIHUDKFD DH D<TIEBG BKFDCBGCS HHDVIK;G I NLCURHI< ;D DcFCDUI EGUTHDX ZB;I; Q CB^RDbI EGUG HI< HHIUI;I< [BVHD<BI< CDERYBDCFI< ;D GCG]S ERQG TCBUDC Q U\<<BVKBNBEIFBWG DZDUTHG D< HI EITDHI ;GRCI;I ;D HI %C;DK $DCEDCI ;D #IK 2CIKEB<EG ;D'<M< DK &DEBNDS DcTCD<BLK ;DH TG;DC Q HI GTRHDKEBI ^RD HHDVICGK I FDKDC HG< FDCEBICBG<;D HI< LC;DKD< CDHBVBG<I< DK -CI<BH=

3GC FIKFGS DK DH ICFD YCI<BHDdG ;D D<FD TDCMG;G aIQ RKI I<TBCIEBLK TGC ECDIC HI GYCI;D ICFD FGFIHS ;GK;D DH D<TIEBG IC^RBFDEFLKBEG D< FCIK<NGCUI;G Q ;GFI;G ;D EGKFDKB;GUD;BIKFD HI BUYCBEIEBLK ;D RKI DcRYDCIKFD ;DEGCIEBLK Q RKI ;GFIEBLK URDYHD ;DVCIK CB^RDbI ^RD FCI<TI<I HG< HMUBFD< D<FCREFRCIHD< EGK<FCREFBWG<S FG;G HG ERIH TGKD ;DUIKBNBD<FG FIKFG HG< B;DIHD< CDHBVBG<G< 0GKFCICCDNGCUB<FI< EGUG HI TCG<TDCB;I; DEGKLXUBEI ;D HG< EDKFCG< RCYIKG< U\< <BVKBNBEIFBWG<= 3GC D<FI CIbLKS HI VCIK ITGCFIEBLK ;DHICFD YCI<BHDdG I HI< ICFD< TH\<FBEI< BYDCGIUDCBEIKI<S <D TCG;RED DK D<FD FDCCDKG ;D HI;DEGCIEBLK ;D BKFDCBGCD< DK <R <DKFB;G U\< IUTHBGS I;^RBCBDK;G DK DHHI B;DKFB;I;TCGTBI HG< ITGCFD< D<ERHFLCBEG< Q TBEFLCBEG<=

*K DH ICFD D<ERHFLCBEG <D ;B<FBKVRDK ;G< EIUTG< ;D FCIYIZG5 HI [D<ERHFRCI GCKIUDKXFIH] ^RD DKVHGYICMI DH UGYBHBICBG Q HG< CDHBDWD< ;DEGCIFBWG< ^RD ERYCDK DH BKFDCBGC ;DHG< D<TIEBG< CDHBVBG<G<S Q HI [D<ERHFRCI ;D YRHFG CD;GK;G] G [BUIVBKDCMI]S CDIHBbI;I DKUI;DCI G YICCG EGEB;G= *K ERIKFG I HI TBKFRCI DH TCGED<G D< URQ <BUBHIC Q <D EGKEDKX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ??s

FCI DK TIKDHD< ;DEGCIFBWG< vD<TDEBIHUDKFD DK HG< EI<DFGKD< ;D HI< ERYBDCFI<v Q HG<EBEHG< TBEFLCBEG< EGK TDC<TDEFBWI< BHR<BGKB<FI< ^RD ERYCDK HI< YLWD;I< ;D HG< FDUTHG<SD<FCREFRCI;I< DK FIYHDCG< EGCCB;G< ;D UI;DCI= *<FD FBTG ;D TBKFRCI ITICDED DK -CI<BHaIEBI fsp@S I;^RBCBDK;G <GHREBGKD< ;D VCIK GCBVBKIHB;I; DK HI< BVHD<BI< ;D HI< CDVBGXKD< ;D .BKI< 7DCIB< Q 3DCKIUYREG=

*K T\CCING< TCDED;DKFD< aDUG< <DdIHI;G ^RD DH ICFD YCI<BHDdG D< NRK;IUDKFIHUDKXFD RK ICFD CDHBVBG<G= *<FI D< HI CIbLK TGC HI ^RDS FIKFG DK TBKFRCI EGUG DK D<ERHFRCISHG< ICFB<FI< U\< CDTCD<DKFIFBWG< NRDCGK CDHBVBG<G< TDCFDKDEBDKFD< I HI< LC;DKD< ^RD <DBUTHIKFICGK DK D<FD FDCCBFGCBGS D<TDEBIHUDKFD ;RCIKFD HG< <BVHG< Ò" Q Ò""= .RQ<BVKBNBEIFBWG D< DH EI<G ;D HG< D<ERHFGCD< YDKD;BEFBKG< NCIQ 'VR<FMK ;D HI 3BD;I; Q NCIQ'VR<FMK ;D eD<k<S DH TCBUDCG ;D GCBVDK TGCFRVR_< Q DH <DVRK;G EICBGEIS ^RD FCIYIZIXCGK aI<FI fiif Q CDIHBbICGK BU\VDKD< ;D YICCG EGEB;GS I HG< ^RD <D <RUI NCIQ )GUBKXVG ;D HI 0GKEDTEBLK ;I #BHWIS ERQI IEFBWB;I; <D ;GERUDKFI DKFCD fiig Q fsfsSFCIYIZIK;G HI FIHHI DK UI;DCI= )RCIKFD D<FI< EDKFRCBI< KG <D GY<DCWIK ;BNDCDKEBI<D<FBHM<FBEI< DKFCD HG< ;B<FBKFG< EDKFCG< ICFM<FBEG< YCI<BHDdG<S IFCBYRBYHD< HI< DcB<FDKFD<U\< I HG< BKFDCD<D< Q VR<FG< D<F_FBEG< ;D EI;I RKI ;D HI< LC;DKD< CDHBVBG<I<S ^RD IHHRVIC ;D TCGED;DKEBI=

#BK DUYICVGS D<FD TIKGCIUI EIUYBI ;RCIKFD DH <BVHG Ò"""S D<TDEBIHUDKFD I TICFBC;D HI ERICFI ;_EI;IS ERIK;G <D EGK<GHB;IK HG< FIHHDCD< HGEIHD< ;BCBVB;G< QI TGC ICFB<FI<HIBEG<S ^RBDKD< ERDKFIK EGK THDKI HBYDCFI; ;D DHDEEBLK ;D I^RDHHG< CDTDCFGCBG< D<FBHM<XFBEG< BUTGCFI;G< ^RD U\< <D I;DERIK I <R <DK<BYBHB;I; ICFM<FBEI= ' DHHG <D RKD DH;DEHBWD BKFDHDEFRIH Q ICFM<FBEG ^RD DZDCEMIK HI< LC;DKD< CDHBVBG<I< DK DH TIKGCIUI YCIX<BHDdGS EGK<FIFI;G TCBUDCG EGK HI TCGaBYBEBLK ;D HI EGCGKI TGCFRVRD<I ;D NRK;ICEGKWDKFG< ;D HI< LC;DKD< CDVRHICD< DK HI CDVBLK ;D HI< UBKI<S Q ERHUBKI;G EGK HIDcTRH<BLK ;D HG< ZD<RBFI< DK fsAg FCI< DH ;DECDFG ;DH .IC^R_< ;D 3GUYIH= 'KFD D<FI<BFRIEBLKS D<TDEBIHUDKFD DK HI CDVBLK ;D .BKI< 7DCIB<S I;^RBCBC\K VCIK TCD;BEIUDKFGHI< I<GEBIEBGKD< CDHBVBG<I< ;D HDVG<S EGUG HI< EGNCI;MI<S aDCUIK;I;D< Q LC;DKD< FDCEDXCI<S ^RBDKD< <DC\K HI< DKEICVI;I< ;D TIFCGEBKIC HI< GYCI< U\< BUTGCFIKFD< ;DH UGUDKXFG=

3GC kHFBUGS IKFD< ;D BKBEBIC DH D<FR;BG ;D HG< TCGVCIUI< ICFM<FBEG< U\< CDTCD<DKFIFBXWG< ;D HG< ;BNDCDKFD< EDKFCG< ICFM<FBEG< YCI<BHDdG<S D< KDED<ICBG D<YGbIC HI< EICIEFDCM<XFBEI< ;D HI< ICFD< TH\<FBEI< DK HG< ;BNDCDKFD< TDCMG;G< D<FBHM<FBEG<= *H CDFIYHG Q HI BUIVBKDCMIUIKBDCB<FI< <D EICIEFDCBbIK TGC <R EIC\EFDC UGKRUDKFIHS EGKFDKEBLK ;D NGCUI< Q DcXTCD<BGKD< <DWDCI<S CDTBFBDK;G EGK TGEI< WICBIEBGKD< HG< FBTG< TGCFRVRD<D< FGUI;G<EGUG UG;DHG<= +G< CDFIYHG< TCD<DKFIK EGHRUKI< CDEFI< EGK ;DEGCIEBLK NHGCIH DK DHFDCEBG BKNDCBGC ;DH NR<FD Q NCGKFGKD< ERCWBHMKDG<=

*K HI D<ERHFRCI YICCGEI <D ITCDEBIK ;G< VCIK;D< DFITI<S DK HI< ^RD TCGVCD<BWIUDKXFD <D WI BUTGKBDK;G HI DcRYDCIKEBI ;DEGCIFBWI ^RD WI I IHEIKbIC FG;I< HI< <RTDCNBEBD<;B<TGKBYHD< ;D TICD;D< Q FDEaG<= +I TCBUDCI DFITIS ^RD <D ;D<ICCGHHL ;D<;D fig@aI<FI fsp@S CDTCG;RED HI ;DEGCIEBLK YICCGEI EGKGEB;I DK 3GCFRVIH EGUG [D<FBHG KIXEBGKIH]S ;DNBKB;I TGC CDFIYHG< EGK EGHRUKI< ;D NR<FD CDFGCEB;G Q IC^RBWGHFI< EGKE_KXFCBEI< EGK TCGNR<I ;DEGCIEBLK ;D T\UTIKG<S UBDKFCI< ^RD HI BUIVBKDCMI BKBEBI <R Yk<^RD;I;DH KIFRCIHB<UG Q ;CIUIFB<UG TCGTBG< ;DH YICCGEGS IYIK;GKIK;G DH ;GUBKIKFD aBDCIXFB<UG ;DH D<FBHG UIKBDCB<FI= +I <DVRK;I DFITI YICCGEI <D DcFBDK;D ;D<;D fsp@ aI<FIfsi@S Q <D WBKERHI EGK DH D<FBHG ;DKGUBKI;G [ZGIKBKG] ;DYB;G I <R D<FCDEaI WBKERHIX

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$??j

EBLK EGK DH UDEDKIbVG ;DH CDQ )GK eG…G O= *<FD D< RK D<FBHG ;D EHICI BKNHRDKEBIBFIHBIKI EGK CDFIYHG< D<FCREFRCI;G< UD;BIKFD EGHRUKI< <IHGULKBEI< YDCKBKBIKI<S DUXTHDG ;D IFHIKFD< DK HI< YI<D< ;D HG< <GTGCFD<S Q NCIVUDKFG< ;D NCGKFGKD< Q ;G<DHD< DKHG< EGCGKIUBDKFG<=

3GC HG ^RD CD<TDEFI I HI D<ERHFRCI CGEGEL <D ;DNBKD TGC CDFIYHG< EGK RKI TGHBECGUMIDK HI ^RD <D IHFDCKIK DH ;GCI;G Q DH YHIKEGS Q DK HG< ^RD DH UGFBWG GCKIUDKFIHNRK;IUDKFIH D< HI EICIEFDCM<FBEI CGEIHHIl D<FD EGHGC YHIKEG FIUYB_K TCD;GUBKI DK HG<NGK;G< EHICG< ;D HI< TBKFRCI< ;D HG< EBDHG< CI<G< ;D HI< YLWD;I<S EGKFCBYRQDK;G FG;GI HI Yk<^RD;I ;D HRUBKG<B;I;S CI<VG ^RD ;DNBKD I HG< FDUTHG< ;D D<FD TDCMG;G= *KD<FG< CDFIYHG< <D BK<DCFIK BU\VDKD< ;D VCIK DHDVIKEBI Q ;RHED< CG<FCG<S EGKEDYB;I< HIUIQGCMI ;D HI< WDED< UD;BIKFD TDCNBHD< ;D HMKDI< <BKRG<I<=

*K ERIKFG IH ICFD TBEFLCBEGS EGUG QI aDUG< ITRKFI;GS ;D<FIEIK HG< EBEHG< YICCGEG<^RD CDERYCDK HI< TICD;D< ;D HG< FDUTHG< UD;BIKFD TIKDHD< NBVRCI;G< ;DHBUBFI;G< TGCUICEG< ;D FIHHI ;GCI;IS I<M EGUG HG< EI<DFGKD< ;D HI< ERYBDCFI< DK HG< ^RD <D ITCDEBIKFIKFG TBKFRCI< GCKIUDKFIHD< EGUG NBVRCIFBWI<= ' TICFBC ;D fsp@S Q ;RCIKFD U\< ;D RK<BVHGS <D BUTR<G HI TBKFRCI ;D HG< EBDHG< CI<G< ;D HG< FDUTHG< EGK NGK;G< IC^RBFDEFLKBXEG< DK TDC<TDEFBWI <BVRBDK;G HG< UG;DHG< ^RD 'K;CDI 3GbbG TCD<DKFL DK <R FCIFI;G3DC<TDEFBWI TBEFGCRU DF ICEaBFDEFGCRU :figpXfigj> Q DK HI YLWD;I ;D HI KIWD ;D HIBVHD<BI ;D #IK "VKIEBG ;D &GUI=

?= -'!6'

#IHWI;GC ;D -IaMIS EITBFIH WBCCDBKIH aI<FI fsip Q TCG<TDCI EBR;I; TGCFRICBIS VCIEBI< I HIDcTGCFIEBLK ;D IbkEICS FIYIEG Q EIN_S <D DCBVBL DK RKG ;D HG< EDKFCG< ICFM<FBEG< U\< <GYCDX<IHBDKFD<S EGK<DCW\K;G<D DK DHHI IHVRKI< ;D HI< GYCI< U\< IKFBVRI< ;D HI D<ERHFRCI YCI<BHDXdI= *K HI 0IFD;CIHS IKFBVRI BVHD<BI ;D HG< ZD<RBFI<S DcB<FD RK BKFDCD<IKFD CDFIYHGS TCGED;DKFD;D HI TCBUDCI BVHD<BI ZD<RMFBEI ;D #IHWI;GCS ;D CGFRK;I D<FCREFRCI IC^RBFDEFLKBEIS EGK RKTCBUDC ERDCTG ;BWB;B;G DK KBEaG< ̂ RD IEGVDK YR<FG< CDHBEICBG< ;D NIEFRCI ICEIBEI Q IEDKXFRI;G aBDCIFB<UG= *<FI< EICIEFDCM<FBEI< FIUYB_K ;DNBKDK HI< GYCI< ;DH D<ERHFGC YDKD;BEFBKG;D GCBVDK TGCFRVR_< NCIQ 'VR<FMK ;D HI 3BD;I;S ERQI IEFBWB;I; ;D<ICCGHHI;I DK DH EGKWDKFG;D #IK -DKBFG ;D #IHWI;GC D<F\ ;GERUDKFI;I ;D<;D fi?@ I fiif= )D <R BUIVBKDCMISCDIHBbI;I DK YICCG EGEB;GS UDCDEDK D<TDEBIH UDKEBLK HI <DCBD ;D YR<FG< CDHBEICBG ;D ;BEaGEGKWDKFG Q HI D<ERHFRCI ;D HI OBCVDK ;D .GKF<DCCIF ^RD IEFRIHUDKFD <D DKERDKFCI DK DH.R<DG ;D 'CFD #IECG ;D -IaMIS D<FI kHFBUI GYCI NBCUI;I Q NDEaI;I TGC DH ICFB<FIS aDEaGBK<LHBFG DK HI D<FIFRICBI ;D D<FD UGUDKFG=

+I BVHD<BI ;DH EGKWDKFG ;D #IK 2CIKEB<EG ;D HI %C;DK 3CBUDCIS EGK<FCRB;I DKFCD fiji QfsAiS TG<DD RK CBEG TCGVCIUI ICFM<FBEG ^RD CD<TGK;D IH FBTG ;D [BVHD<BI< CDERYBDCFI< ;DGCG]S B;DIH <RCVB;G DK +B<YGI Q 7GI I NBKIHD< ;DH <BVHG ̀ O""S Q ̂ RD DK -CI<BH BKIRVRCI HI QIUDKEBGKI;I EITDHI ;GRCI;I :EITBHHI ;GCI;I> ;D HI %C;DK $DCEDCI ;D #IK 2CIKEB<EG ;D '<M<DK &DEBND= +I TCGNR<I ;DEGCIEBLK GYCI ;DH aDCUIKG NCIQ +RB< ;D eD<k<S CDERYCD MKFDVCIXUDKFD HG< URCG< ;DH D;BNBEBGS CDIHBbI;I I YI<D ;D UGFBWG< WDVDFIHD< Q NBVRCI< IKFCGTGULCXNBEI<S UBDKFCI< ̂ RD HI ;GFIEBLK CDFIYHM<FBEI CD<TGK;D IH FBTG KIEBGKIH TGCFRVR_<= "VRIHUDKFD;D<FIEIK DH ICFD<GKI;G ;D HI BVHD<BIS EGK TIKDHD< GEFGVGKIHD< Q ERI;CI;G<S Q HI ;DEGCIXEBLK ;D IbRHDZG<S HI U\< BUTGCFIKFD ;D -CI<BHS EGK TIKDHD< DK HI EITBHHI UIQGC CDIHBbI;G< DK

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ??g

#'+O')%& )* -'!6'= 0%,O*,$% )* #', 2&',0"#0%= ",$*&"%& )* +' "7+*#"'=

+B<YGI DK fsps TGC -ICFGHGUDR 'KFRKD< ;D eD<k<S DK DH EHIR<FCG ̂ RD ;IFIK ;D fshiXhjS QDK HI IKFD<IHI Q <IECB<FMIS EGKNDEEBGKI;G< DK FGCKG I fj@A=

,RD<FCI #DdGCI ;D HI 0GKEDTEBLK ;D HI 3HIQIS BVHD<BI EGUDKbI;I DK fspg Q NBKIXHBbI;I DK fj?@ EGK <BHHICD< BUTGCFI;G< ;D 3GCFRVIHS D< RK EGKZRKFG ;DEGCI;G EGK GCG<GYCD NGK;G YHIKEGS ERQG IHFIC UIQGC <D ;DYD IH DKFIHHI;GC eRIK .GCDBCI ;DH *<TMCBFR#IKFG ^RBDK HG CDIHBbL DKFCD fsiA Q fsspS NGCUI;G TGC RK CDFIYHG ;D EGHRUKI< <IHGXULKBEI<S ;G<DH Q IFHIKFD<= 3DCG D<FI YI<MHBEI ;D<FIEI D<TDEBIHUDKFD TGC HI TBKFRCI DK[^RI;CIFRCI] ;DH FDEaGS GYCI ;D eG<_ eGI^RBU ;I &GEaI :IEFBWG DKFCD fsih Q fj@s>SEGK<B;DCI;G DH TBKFGC U\< BUTGCFIKFD ;D HI EGHGKBI= *K DH FDEaG ;D HI KIWD ECDI RKD<TIEBG IC^RBFDEFLKBEG BHR<BGKB<FI I FCIW_< ;D HI EGUYBKIEBLK ;D DKFIYHIUDKFG<S EGXHRUKI<S ICEG< Q YIHEGKD< DKFCD HG< ^RD <D BK<DCFIK TDC<GKIZD< YMYHBEG< Q NBVRCI< IHDVLXCBEI<S CD<DCWIK;G DH D<TIEBG EDKFCIH TICI HI VHGCBNBEIEBLK ;D HI "KUIERHI;IS NHIK^RDI;ITGC HI< IHDVGCMI< ;D HG< ERIFCG EGKFBKDKFD<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?p@

+I EIHB;I; Q UID<FCMI ;D HI ^RD aIED VIHI eG<_ eGI^RBU ;I &GEaI DK D<FI GYCI HIDKEGKFCIUG< DK HG< EBDHG< CI<G< ;D HI BVHD<BI ;D #IKFG )GUBKVG Q HI BVHD<BI ;D ,RD<XFCI #DdGCI ;D HI 3IHUIS ^RD FIUYB_K HD <GK IFCBYRB;G<= 0GK D<FD ICFB<FI <D ECDI RKIIRF_KFBEI D<ERDHI DK HI CDVBLK ;D -IaMIS ERQI BKNHRDKEBI IHEIKbL aI<FI HI CDVBLK ;D3ICIBYIS ;GK;D aIQ ^RD aIEDC CDNDCDKEBI IH FDEaG ;DH EGKWDKFG ;D #IK 'KFGKBG DKeG…G 3D<<GI= *KFCD HG< ;B<EMTRHG< ;D &GEaIS ;D<FIEIK ODCM<<BUG ;D #GRbI 2CDBFI<S eG<_$DLNBHG ;D eD<k< Q 'KFGKBG eGI^RBU 2CIKEG ODHI<EGS D<FD kHFBUG IRFGC ;D HI TBKFRCI<;D HI KIWD ;D HI BVHD<BI ;D ,RD<FCG #DdGC ;D -GKNBU DK #IHWI;GC NDEaI;I< DKFCD fjfjQ fj?@S ;GK;D ITHBEI QI D<^RDUI< EGUTG<BFBWG< KDGEH\<BEG<=

3GC kHFBUGS DK #IHWI;GC ;D -IaMIS aIQ ^RD aIEDC UDKEBLK I HI EGHDEEBLK ;D D<ERHXFRCI< ;DH .R<DG ;D 'CFD #IECG ;D D<FI EBR;I;S IKFBVRG UGKI<FDCBG ;D UGKZI< EICUDXHBFI< ;D<EIHbI< ;D #IKFI $DCD<IS DKFCD HI< ^RD <D DKERDKFCIK HI< CDIHBbI;I< TGC .IKRDH"K\EBG ;I 0G<FI :fsi?XfjAs>S ERQG HDKVRIZD <GYCBG ;D DcTCD<BGKD< ;CIU\FBEI<S CDTCDX<DKFI;G TGC <R 0CB<FG NHIVDHI;GS WI BKEGCTGCIK;G ;RHED< NIEEBGKD< Q WD<FBUDKFI< ;D

THBDVRD< <BKRG<G<S TCGTBG< ;DH CGEGELS DK GFCI< GYCI< EGUG DH VCRTG ;DH #DdGC &D<RXEBFI;G EGK .ICMI .IV;IHDKI=

#'+O')%& )* -'!6'= 0%,O*,$% )* #', 2&',0"#0%= '98+*e% )*+ 0+'8#$&%=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?pf

p= 3*&,'.-80%

*K D<FI CDVBLKS Q FCI< HI GERTIEBLK aGHIK;D<I TCG;REB;I DKFCD fi@i Q fiAhS <R< ;G<TCBKEBTIHD< EBR;I;D< &DEBND Q %HBK;IS ;D VCIK D<THDK;GC DEGKLUBEG VCIEBI< I HI TCG;REXEBLK Q EGUDCEBG ;DH IbkEICS INCGKFICGK BUTGCFIKFD< TCGVCIUI< ICFM<FBEG< DK D<FBHG YICCGEGQ CGEGEL= +I D<ERHFRCI DK UI;DCI D< D<TDEBIHUDKFD <BVKBNBEIFBWI TGC HI EIHB;I; ;DH ;GCI;GQ HI TGHBECGUMI ̂ RD CDERYCD FIKFG HI< FIHHI< GCKIUDKFIHD< Q DH UGYBHBICBG EGUG HI BUIVBKDCMISD<FI kHFBUI EGK DcEDHDKFD< FCIYIZG< ;D D<FGNI;G=

*<TDEBIHUDKFD TICI;BVU\FBEG DK D<FD <DKFB;G D< DH EGKWDKFG NCIKEB<EIKG ;D #IK 'KFGXKBG DK &DEBND Q HI EITBHHI ;D HI %C;DK $DCEDCI I _H WBKERHI;IS EGKGEB;I TGTRHICUDKFD EGUGHI EITDHI ;GRCI;I Q ^RDS EGUG QI aDUG< UDKEBGKI;GS BKIRVRCI DK -CI<BH DH FBTG ;D[BVHD<BI< CDERYBDCFI< ;D GCG]= *H FDUTHG TCD<DKFI RK EGUTHDFG TCGVCIUI ;DEGCIFBWGS EGK<XFBFRB;G TGC TIKDHD< ;D IbRHDZG< DK HI EITBHHI UIQGCS HG< ERIHD< <D DcFBDK;DK FIUYB_K <GYCDHI EkTRHI EGK UGFBWG< NHGCIHD< Q VDGU_FCBEG<S CDFIYHG ;GCI;G EGK RK ECREBNBEI;G ;D FIUIXdG KIFRCIHS TkHTBFGS EGCG Q ERYBDCFI ;D UI;DCI DK HI KIWD ;GK;D <D CDTCD<DKFI HI ITICBEBLK;DH ,BdG eD<k< I #IK 'KFGKBG ;D 3I;RIS GYCI ;DH TBKFGC #DYI<FB\K 0IKRFG ;I #BHWI $IWIXCD<= +I EITBHHI ;D HI %C;DK $DCEDCIS <DKEBHHG D<TIEBG ERI;CI;G ;D ;G< TB<G<S TCD<DKFI RKIERYBDCFI ;D UI;DCI EGK YLWD;I CDYIZI;I DK HI ̂ RD <D EGUYBKIK TBKFRCI< Q EI<DFGKD<= #RBKFDCBGC D<F\ ;DEGCI;G EGK DH FMTBEG bLEIHG ;D IbRHDZG< TGCFRVRD<D<S Q DH CD<FG ;D HI<TICD;D< EGK ERI;CG<S D<ERHFRCI< Q CDHBEICBG<=

"VRIHUDKFD DK &DEBND aIQ ^RD UDKEBGKIC HI< BVHD<BI< ;D HI 0GKEDTEBLK ;D HG<.BHBFICD< Q HI ;D #IK 3D;CG ;D HG< 0H_CBVG<= +I TCBUDCI TG<DD RKI ERYBDCFI DK HI ^RD<D EGUYBKIK HI FIHHI GCKIUDKFIH ;D NGCUI WDVDFIHD< EGK TBKFRCI< IHDVLCBEI< ;D HI"KUIERHI;I 0GKEDTEBLKS Q ERQI ECGKGHGVMI <D TRD;D D<FIYHDEDC DKFCD fsA@ Q fsi@=*K HI BVHD<BI ;D #IK 3D;CG ;D HG< 0H_CBVG<S HI ERYBDCFI ;D HI KIWD D< GYCI ;DH TBKFGCU\< BUTGCFIKFD ;D HI CDVBLKS eG…G ;D )DR< #DTkHWD;IS DZDERFI;I DKFCD fsih Q fsijSCDTCD<DKFIK;G DH aIYBFRIH FCBRKNG EDHD<FBIH ;DH <IKFG FBFRHIC=

3GC <R TICFDS DK HI EBR;I; ;D %HBK;IS <D EGK<DCWIK UIVKMNBEG< CDFIYHG< ;DKFCG ;DHHDKVRIZD CGEGEL= )D VCIK BKFDC_< D< DH CDFIYHG UIQGC ;D HI BVHD<BI EGKWDKFRIH ;D #IK-DKBFGS NDEaI;G aIEBI fsjpS Q ̂ RD <D EGKWBDCFD DK EIYDbI ;D <DCBD ;D GFCG< CDFIYHG< ;D HICDVBLKS ;D<FIE\K;G<D TGC RKI ;DEGCIEBLK DK CGEIHHI IYRK;IKFD Q ;D VCIK WGHRUDKS I<M EGUG TGC ;BK\UBEG< NCGKFGKD< EGK<DVRB;G< TGC HI EGUYBKIEBLK ;D TDCNBHD< ERCWG< QEGKFCIERCWG<= "VRIHUDKFD <GK CD<DdIYHD< DH CDFIYHG UIQGC ;D HI BVHD<BI ;D HI .B<DCBEGC;BIQ DH IHFIC UIQGC ;DH 0CREBNBEI;G ;D HI #DGS IUYG< FDUTHG< FIUYB_K DK %HBK;I=

h= #†% 3'8+% 1 &6% )* e',*"&%

#…G 3IRHGS ;RCIKFD DH <BVHG `O""S <D EGKWBCFBL DK RK BUTGCFIKFD EDKFCG D<ERHFLCBEGVCIEBI< I HI HIYGC Q HG< TCGVCIUI< ICFM<FBEG< ;D<ICCGHHI;G< TGC HI< LC;DKD< CDHBVBG<I< ;DHI 0GUTIdMI ;D eD<k< Q #IK -DKBFG= *K HI< TGYHIEBGKD< CRCIHD< ;D D<FI CDVBLK DcB<FDRK VCRTG ;D GYCI<S ;DKGUBKI;I< EGUG [BUIVBKDCMI YIK;DBCIKFD]S HI< ERIHD< <D EICIEXFDCBbIK TGC CDECDIC HI< NLCURHI< ;D HI D<ERHFRCI UIKBDCB<FI TDCG EGK RK HDKVRIZD TGTRXHIC Q ICEIBEGS FIH EGUG <RED;D DK DH CDFIYHG ;D HI 0ITBHHI ;D #IK 'KFGKBG ;D HI BVHD<BI;D #IKFI 'KI ;D 3ICKIMYI G DK DH <BFBG ;D #IK 'KFGKBG DK #…G &G^RD=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?p?

$IKFG DK #…G 3IRHG EGUG DK &MG ;D eIKDBCGS DK D<FI EDKFRCBIS ;D<FIEI HI HIYGC ;DD<ERHFGCD< YDKD;BEFBKG<S EGUG NCIQ 'VR<FMK ;D eD<k< Q NCIQ )GUBKVG< ;I 0GKEDB‡…G=+I GYCI ;DH TCBUDCGS CDIHBbI;I DK YICCG EGEB;GS YR<EI HI DcTCD<BWB;I; DK HG< CG<FCG< QEBDCFG UGWBUBDKFG DK DH THDVI;G ;D HG< CGTIZD<S FIH EGUG BHR<FCI HI OBCVDK EGK DH ,BdG^RD <D EGK<DCWI DK DH .R<DG ;D 'CFD #IECG ;D #…G 3IRHGS I<M EGUG HI< D<ERHFRCI< ;D#IK -DKBFG Q #IKFI *<EGH\<FBEI ;DH EGKWDKFG YDKD;BEFBKG ;D HI UB<UI EBR;I;=

*K &MG ;D eIKDBCGS HI< ICFD< TH\<FBEI< URD<FCIK RKI NRDCFD BKNHRDKEBI ;DH ICFD UDFCGXTGHBFIKG TGCFRVR_<S ;D<FIEIK;G TGC <R UIQGC [DCR;BEBLK]S DK EGKFCITG<BEBLK EGK DHEIC\EFDC U\< TGTRHIC WB<FG DK #…G 3IRHGS G DK GFCI< CDVBGKD< EGUG 3DCKIUYREG G.BKI< 7DCIB<= *K DH EGKWDKFG ;D #IK -DKBFG D< ;GK;D FCIYIZL DH <DVRK;G ;D KRD<XFCG< D<ERHFGCD< YDKD;BEFBKG<S NCIQ )GUBKVG< ;I 0GKEDB‡…GS IEFBWG DKFCD fiig Q fsfsSQ ;D;BEI;G I HI D<ERHFRCI ;D UI;DCI FIHHI;I Q TGHBECGUI;I= *KEICVI;G ;DH ;B<DdG Q HIDZDEREBLK ;D HI GCKIUDKFIEBLK TCBUBVDKBI ;D HI BVHD<BI ;D D<FD EGKZRKFGS <R<FBFRB;I DKHI <DVRK;I UBFI; ;DH <BVHG `O""" TGC HI ;DH D<ERHFGC "K\EBG 2DCCDBCI 3BKFG QI ;D D<FBHGCGEGELS <B <D EGK<DCWIK ;D <R UIKG HI< BU\VDKD< ;D #IKFI *<EGH\<FBEI Q #IK -DKBFG;D HI EITBHHI UIQGCS GYCI< ;D BK;R;IYHD EIHB;I; I TD<IC ;D <R aBDCIFB<UG Q NCGKFIHB;I;S

Q HI OBCVDK ;D .GKF<DCCIF ;DH EIUICMKS NBVRCI ;D RK UIQGC KIFRCIHB<UG= *H TCGVCIUIICFM<FBEG ;D HI BVHD<BI <D EGUTHDFI EGK HI< ITGCFIEBGKD< ;DH D<ERHFGC TGCFRVR_< #BU…G

&*0"2*= 0'3"++' )%&')' )* #', ',$%,"%= 0'-*0*&' )*+ $*.3+%=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?pp

;I 0RKaI Q DH ICFB<FI HGEIH eG<_ ;I 0GKEDB‡…GS ^RBDKD< CDIHBbIK HI FIHHI ;D HI< BU\VDXKD< ;D HI KIWDS ;DH D<ERHFGC 2DCCDBCI 3BKFG ^RD CDIHBbI DH CDFIYHG UIQGC Q DH CDFIYHG ;DHI EITBHHI ;DH #IKFM<BUGS Q ;DH TBKFGC eG<_ ;D %HBWDBCI &G<IS ^RBDK DZDERFL ;G< TIKDHD<TBEFLCBEG< ;D VCIK EIHB;I; QI ;D BK<TBCIEBLK CGEGEL=

+I BVHD<BI ;D HI %C;DK $DCEDCI ;D #IK 2CIKEB<EG ;D HI 3DKBFDKEBI FIUYB_K TCD<DKFIDK <R KIWD TBKFRCI< DK TDC<TDEFBWI <BDK;G EGK HI< EGUDKFI;I< ;DH 0GKWDKFG ;D #IK-DKBFGS HG< ;G< kKBEG< DZDUTHG< DK &MG ;D eIKDBCG= "KBEBI;I <R EGK<FCREEBLK DK HI<DVRK;I UBFI; ;DH <BVHG `O""S I;^RBCBL <R EGKNBVRCIEBLK ;DNBKBFBWI DK TGEG< IdG<S HGERIH HI ;GFI ;D RKI VCIK RKB;I; DK <R EGKEDTEBLK IC^RBFDEFLKBEI Q ;DEGCIFBWIS FCIYIX ZIK;G DK DHHI HG< ICFB<FI< U\< <GYCD<IHBDKFD< ;D HI EBR;I;= #R BKFDCBGC D<FI CDWD<FB;GFGFIHUDKFD ;D FIHHIS ^RD NRD ;GCI;I TGC 0IDFIKG ;I 0G<FI 0GDHaGS ^RBDK FIUYB_KCDIHBbL HI TBKFRCI DK TDC<TDEFBWI ;DH FDEaG ;D HI KIWDS RKI ;D HI< TCBUDCI< ;D -CI<BH QEGKEHRB;I DK DH IdG ;D fsh@= +G< DKFIHHI;GCD< ;D GCBVDK TGCFRVR_< .IKRDH ;D -CBFGQ 2CIKEB<EG `IWBDC ;D -CBFGS CDIHBbIK HG< FCIYIZG< ;D FIHHI Q DH UGYBHBICBG ^RD CDWB<FD HIBVHD<BIS EGK RKI GCKIUDKFIEBLK ^RD <D WBKERHI IH D<FBHG ;D )GK eG…G OS BHR<FCIK;G HI<NRDCFD< WBKERHIEBGKD< QI ITRKFI;I< ;D HI TH\<FBEI ;D &MG ;D eIKDBCG EGK HI TGCFRVRDX<I ;DH UGUDKFG=

*H TIKGCIUI ICFM<FBEG ;D D<FI EBR;I; <D EGUTHDFI EGK FCD< BUTGCFIKFD< GYCI<5 DHEGKWDKFG ;G 0ICUGS HI "VHD<BI ;D HI %C;DK $DCEDCI DH .GKFD ;G 0ICUGS Q HI BVHD<BI ;D,RD<FCI #DdGCI ;D HI 7HGCBI ;D %RFDCBG= +I BVHD<BI ;DH EGKWDKFG ;G 0ICUG <D BKBEBLDK fsifS ;D<FIEIK;G DK DHHI HI< TBKFRCI< CDIHBbI;I< TGC DH IHDU\K NCIQ &BEIC;G ;G

&6% )* e',*"&%= 0%,O*,$% )* #', -*,"$%=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?ph

3BHICS ERQI GYCI DH [#DdGC ;D HG< .ICFBCBG<]S GERTI DH CDFIYHG YICCGEG ;D HI <IECB<FMI=+I BVHD<BI ;D HI %C;DK $DCEDCI ;G 0ICUGS EGUDKbI;I DK fsAA D BKIRVRCI;I DK fss@S

IHGZI HG< FCIYIZG< ;D FIHHI ;DH D<ERHFGC URHIFG OIHDKFBU ;I 2GK<DEI D #BHWIS EGKGEB;GEGUG [.D<FCD OIHDKFBU]= *K DHHG< EGUYBKI DHDUDKFG< ;DH CDTDCFGCBG ZGIKBKGS EGUG HI

2&',0"#0% `'O"*& )* -&"$%= .'7)'+*,'=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?pA

EGHRUKI <IHGULKBEIS EGK HI CGEIHHI CGEGEL Q D<^RDUI< ^RD TCDHR;BIK DH KDGEHI<BEB<XUGS _<FG< kHFBUG< D<TDEBIHUDKFD DWB;DKFD< DK <R< GYCI< ;D EIC\EFDC EBWBHS DKFCD HI< ^RDTG;CMIUG< EBFIC HI 2RDKFD ;D HI< 3BC\UB;D< ;D HI 3HIbI Ò ;D ,GWBDUYCD ;D HI EBR;I;=3GC kHFBUGS HI "VHD<BI ;D ,RD<FCI #DdGCI ;D HI 7HGCBI ;D %RFDCBGS ;DYBL <DC EGKEHRB;IDK fspg TDCG <R ;GFIEBLK ;DEGCIFBWI TG<BYHDUDKFD ;D NBKIHD< ;DH <BVHG Ò""" G TCBKXEBTBG< ;DH `"`S CDTCD<DKFI HI FCIK<BEBLK DKFCD DH NBKIH ;DH D<FBHG CGEGEL Q DH ;D<TRKFD;DH KDGEHI<BEB<UGS ;D<FIEIK;G HI< FIHHI< ;D HI EITBHHI UIQGCS HG< IHFICD< ;D HI< KIWD<SFCBYRKI< Q EGCG<= )D VCIK WIHGC <GK <R< IbRHDZG< <DFDEDKFB<FI<S ^RD EGUTGKDK TIKDHD<EGK D<EDKI< ;D HI -BYHBI I DcEDTEBLK ;D HI <IECB<FMI EGK D<EDKI< ;D EIEDCMI<=

A= .",'# 7*&'"#

*H CBEG TIKGCIUI ICFM<FBEG ^RD WBWD HI CDVBLK ;D .BKI< 7DCIB< ;RCIKFD DH <BVHGÒ""" D< NBDH CDNHDZG ;D <R D<THDK;GC DEGKLUBEGS BKBEBI;G DK DH IdG figp ERIK;GNRDCGK ;D<ERYBDCFG< QIEBUBDKFG< IRCMNDCG< EDCEI ;D HI IEFRIH EBR;I; ;D -DHG !GCBbGKXFD= #D BKBEBI DKFGKED< RK TCGED<G DK DH ^RD <BUTHD< EIUTIUDKFG< UBKDCG< <D EGKWBDCXFDK DK EBR;I;D<S EGUG %RCG 3CDFGS .ICBIKIS #IYICI G #IK eRIK ;DH &DQS Q ERQIFCIK<NGCUIEBLK DcBVBL RKI BUTGCFIKFD IEFBWB;I; IC^RBFDEFLKBEI Q ICFM<FBEI= #D D<FIYHDXEDK DK HI bGKI UID<FCG< TCGED;DKFD< ;D GFCG< EDKFCG< ICFM<FBEG<S D<TDEBIHUDKFD ;D HIUDFCLTGHB< TGCFRVRD<IS EGUG D< DH EI<G ;D HG< D<ERHFGCD< 2CIKEB<EG ÌWBDC ;D -CBFGS^RD QI aDUG< UDKEBGKI;G FCIYIZIK;G DK &MG ;D eIKDBCGS Q 2CIKEB<EG OBDBCI #DCWI<S DHTBKFGC eG<_ #GICD< ;D 'CIRZGS G DH IC^RBFDEFG .IKRDH 2CIKEB<EG ;D +B<YGIS TI;CD ;D'HDBZI;BKaGS ECDIK;G RK IUYBDKFD ERHFRCIH DK DH ^RD ;D<FIEIC\K ICFB<FI< QI KIEB;G< DKHI CDVBLKS EGUG DH TCGTBG 'KFGKBG ;D +B<YGI G DH TBKFGC .IKRDH ;I 0G<FI 'FaIQ;D=

+I EITBHHI ;D ,RD<FCI #DdGCI ;D HI % DK #IYICI BKBEBI;I DK DH IdG fsfgS I TD<IC ;D <R<CD;REB;I< ;BUDK<BGKD<S D< RK TCDEBG<G DZDUTHG ;DH ICFD IKFDCBGC IH ITGVDG ;D HI IC^RBFDEXFRCI UBKDCI= #R BKFDCBGC D<FI EGUTHDFIUDKFD CDWD<FB;G ;D UI;DCI ;GCI;I EGUYBKI;I EGKTBKFRCI< ;D NIEFRCI IKLKBUIS ̂ RD CDTCD<DKFIK D<EDKI< ;BWDC<I< ;D HI WB;I ;D HI OBCVDK Q HIBKNIKEBI ;D 0CB<FG= )D<FIEIK HG< ICEG< ̂ RD ;IK TI<G I HI EITBHHI UIQGC ;GK;D D<FI< TBKFRXCI< TCD<DKFI RK EIC\EFDC GCBDKFIHS I BUBFIEBLK ;D HI< HIEI< EaBKD<EI<=

*K HI EBR;I; ;D .ICBIKI ;D<FIEIK HI 0IFD;CIH ;D ,RD<FCI #DdGCI ;D HI '<RKEBLK QHI BVHD<BI ;D ,RD<FCI #DdGCI ;DH &G<ICBG= +I TCBUDCI <D BKBEBL DK DH IdG fsfp Q aI<FINBKIHD< ;DH <BVHG Ò""" <D CDIHBbICGK GYCI< ;D EIC\EFDC D<FCREFRCIH Q ;DEGCIFBWG= )DD<FI< kHFBUI<S <GK ;D D<TDEBIH BKFDC_< DH CDFIYHG ;D HI EITBHHI ;D ,RD<FCI #DdGCI ;D HI0GKEDTEBLKS CDIHBbI;G DKFCD fshh Q fsAf TGC DH D<ERHFGC eG<_ 0GDHaG ;D ,GCGKaIS DKDH ^RD HBUBFI HG< DcED<G< ;DEGCIFBWG< I NIWGC ;D RKI D<FCREFRCI U\< IC^RBFDEFLKBEI QUGKRUDKFIHS IH BVRIH ^RD HI< TBKFRCI< ;D HI EITBHHI UIQGC CDIHBbI;I< DK fsif TGC.IKRDH &DYDHG D #GRbIS ;GK;D NBVRCI< DEHD<B\<FBEI< <D BK<DCFIK DKFCD DHDUDKFG< ICX^RBFDEFLKBEG<S FG;G I YI<D ;D RKI TGHBECGUMI ;D NRDCFD EGKFCI<FD DKFCD HG< FGKG<EHICG< Q G<ERCG<= *K HI BVHD<BI ;D ,RD<FCI #DdGCI ;DH &G<ICBGS HI< GYCI< U\< BUTGCFIKXFD< <GK HG< CDFIYHG< CDIHBbI;G< TGC 2CIKEB<EG OBDBCI #DCWI< I TICFBC ;D fss@S D<ERHFGC;D GCBVDK TGCFRVR_<S HG< ERIHD< TG<DDK VCIK ;BKIUB<UG VCIEBI< IH TDCNBH <BKRG<G ;DHG< CDUIFD< Q I CGEIHHI< HHIUDIKFD<S UBDKFCI< ^RD HG< <GTGCFD< <GK EGHRUKI< CDEFI<D<FCBI;I<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?pi

*K $BCI;DKFD<S HI BVHD<BI UIFCBb ;D #IK 'KFGKBG NRD RKI ;D HI< TCBUDCI< BVHD<BI<YICCGEI< ;D .BKI< 7DCIB<S BKBEB\K;G<D <R EGK<FCREEBLK DK fsf@= #R BKFDCBGCS ;D VCIKCB^RDbI GCKIUDKFIHS ;D<FIEI TGC HG< CDFIYHG< ;D ,RD<FCI #DdGCI ;D HI 0GKEDTEBLK Q#IK .BVRDHS NDEaI;G< DKFCD fs?s Q fsp? CD<TDEFBWIUDKFDS I<M EGUG DH CDFIYHG UIQGCSHG< ERIHD< DZDUTHBNBEIK HI TCGVCD<BWI I<BUBHIEBLK ;D HG< DHDUDKFG< GCKIUDKFIHD< ;DHD<FBHG ZGIKBKG DK HI TH\<FBEI ;D .BKI< 7DCIB<= )D BUTGCFIKEBI <GK BVRIHUDKFD DH EGCGCDIHBbI;G DK fsh@ TGC 3D;CG .GKFDBCG ;D #GRbI Q ^RD TCD<DKFI D<FMTBFD< ;GCI;G<S QHI YDHHI YIHIR<FCI;I CGEGEL IFCBYRB;I I #IHWI;GC ;D %HBWDBCI=

*K %RCG 3CDFGS EITBFIH ;D HI CDVBLK aI<FI fjgsS <GK WICBI< HI< GYCI< ;D BKFDC_<S;D<FIEIK;G NRK;IUDKFIHUDKFD I^RDHHI< HBVI;I< IH U\< BUTGCFIKFD D<ERHFGC YCI<BHDdGS'KFGKBG ;D +B<YGI :fspjXfjfh>S ITG;I;G DH 'HDBZI;BKaG :<BVKBNBEI [;DNGCUI;BHHG]S;DYB;G I RKI DKNDCUD;I; ^RD HD ;DNGCUL HG< UBDUYCG<>= #R< GYCI< U\< <GYCD<IHBDKFD<<GK HI BVHD<BI ;D #IK 2CIKEB<EG ;D '<M< DK HI TCGTBI %RCG 3CDFGS Q DH <IKFRICBG ;G#DKaGC -GU eD<k< ;D .IFGbBKaG<S DK 0GKVGKaI< ;G 0IUTG= #BK DUYICVGS IKFD< ;DGERTICKG< ;D HI GYCI ;D 'HDBZI;BKaGS D< KDED<ICBG EGUDKFIC HI GYCI ;DH D<ERHFGC2CIKEB<EG eIWBDC ;D -CBFG DK HI BVHD<BI ;D ,RD<FCI #DdGCI ;DH 3BHIC ;D D<FI EBR;I;S QI^RD DZDCEBL RKI KGFIYHD BKNHRDKEBI <GYCD HI TH\<FBEI ;DH VCIK UID<FCG= -CBFG CDIHBbL DHCDFIYHG ;D HI EITBHHI UIQGC DKFCD fshi Q fsAfS TBDbI ;D VCIK BUTGCFIKEBI TGC BKEGCTGXCIC RK KRDWG CDTDCFGCBG NGCUIH HBVI;G I HI TH\<FBEI ZGIKBKI ;D UG;I DK D<G< UGUDKXFG<5 EGHRUKI< <IHGULKBEI<S NCIVUDKFG< ;D NCGKFLK ERCWGS ;G<DHD< Q VCRTG< D<ERHFLCBEG<vDK D<FD EI<G HI #IKFM<BUI $CBKB;I;v DK DH \FBEG=

+I BVHD<BI ;D #IK 2CIKEB<EG ;D '<M< <D BKBEBL DK fsiAS IFCBYRQ_K;G<D <R ;B<DdG I'KFGKBG ;D +B<YGI ^RBDKS I;DU\< ;D D<ERHFGCS NRD RK UIVKMNBEG IC^RBFDEFG= 'aGCIYBDKS HI< GYCI< EBDCFI< ;D 'HDBZI;BKaG ^RD <D DKERDKFCIK DK D<FI BVHD<BI <GK5 HI< D<ERHXFRCI< ;DH TkHTBFGS DH ;B<DdG ;D HI TGCFI;I ;D HI FCBYRKI ;DH IHFIC UIQGCS DH CDFIYHG ;D HIEITBHHI UIQGC Q HI< NBVRCI< ;D HG< IHFICD< EGHIFDCIHD<= *<TDEBIHUDKFD ;D<FIEIYHD D< DHCDFIYHG ;D HI EITBHHI UIQGCS BKUDC<G DK DH HDKVRIZD CGEGEL ;D I<EDK;DKEBI DRCGTDISBKEGCTGCIK;G FIUYB_K IHVRKG< ;D HG< DHDUDKFG< WB<FG< DK 2CIKEB<EG eIWBDC ;D -CBFGSEGUG DH VCRTG ;D HI #IKFM<BUI $CBKB;I; DK DH \FBEG= .IKRDH ;I 0G<FI 'FaIQ;D :fsi?Xfjp@>S DH GFCG VCIK UID<FCG ;D HI CDVBLK UBKDCIS EGUTHDFL DH TCGVCIUI ;DEGCIFBWG ;DHI BVHD<BI EGK HI< TBKFRCI< ;D HI KIWDS CDIHBbI;I< DKFCD fj@f Q fjf?S Q ERQI IC^RBFDEXFRCI D< EGK<FCRB;I TGC UD;BG ;D ICEI;I< Q ICEG< FCBRKNIHD< DKFCD HG< ^RD <D BK<DCFIKYIHEGKD< EGK IKVDHBHHG< Q TkHTBFG< EGK HG< ;GEFGCD< ;D HI BVHD<BIS CD<DCWIK;G DH D<TIXEBG EDKFCIH TICI HI CDTCD<DKFIEBLK ;D HI OBCVDK CG;DI;I ;D \KVDHD< Uk<BEG<=

*K 0GKVGKaI< ;G 0IUTG <D EGK<DCWI GFCG ;D HG< VCIK;D< TCGVCIUI< ICFM<FBEG< ;D'HDBZI;BKaGS DH #IKFRICBG ;G #DKaGC -GU eD<k< ;D .IFGbBKaG<= *H <IKFRICBG NRDEGUDKbI;G DK fsAsS DK HG IHFG ;DH 0DCCG ;D .ICIdLKS TDCG <R ;DNBKBEBLK EGUG #IECG.GKFD <D ;DYD I KRD<FCG ICFB<FIS ^RBDK ;D<ICCGHHL RK EGUTHDZG TCGVCIUI D<ERHFLCBEGSNGCUI;G TGC HG< VCRTG< D<ERHFLCBEG< ;D HI< <DB< EITBHHI< ^RD <D HGEIHBbIK DK HI ERD<FI^RD EGK;RED IH FDUTHGS GYCI< ;D FIHHDC TDCG DK HI< ^RD HI UIKG ;DH UID<FCG D< DWB;DKXFD DK HI< NBVRCI< ;D 0CB<FGS Q ^RD <GK5 HI 0DKIS 0CB<FG DK DH .GKFD ;D HG< %HBWG<S DH3CDK;BUBDKFGS HI 2HIVDHIEBLK Q 0GCGKIEBLK ;D *<TBKI<S 0CB<FG EGK HI ECRb I ERD<FI<S QHI 0CREBNBcBLK= 0GKEHRB;I< D<FI< GYCI<S DK fj@@ <D BKBEBIK HI< D<ERHFRCI< ;D HG< TCGNDXFI<S ^RD <D HGEIHBbIK DK DH IFCBG ;DH <IKFRICBG= #GK ;GED NBVRCI< UGKRUDKFIHD< CDIHBbIX;I< DK [TBD;CIX<ITG]S D<FDIFBFI ;D EGHGC IbRH G WDC;G<G URQ RFBHBbI;I DK D<FI CDVBLKS

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?ps

',$%,"% )* +"#-%' :'+*"e')",!%>= &*$'-+% )* +' 0'3"++' .'1%& )* +'"7+*#"' )* #', 2&',0"#0% )* '#6#S %8&% 3&*$%=

Q DK HI< ^RD <D CDWDHI HI EIHB;I; D<ERHFLCBEI ;D 'HDBZI;BKaG ^RBDK <D CD<DCWL TICI <M HI

DZDEREBLK ;D HI< TICFD< U\< BUTGCFIKFD< ;D HI< D<FIFRI<S <BDK;G DH CD<FG ;D HI< UB<UI<GYCI< ;D FIHHDC=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?pj

.',8*+ )' 0%#$' '$!'1)*= "7+*#"' )* #', 2&',0"#0% )* '#6#S%8&% 3&*$%=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?pg

',$%,"% )* +"#-%' :'+*"e')",!%>= *#0'+",'$' )*+ #',$8'&"% % #*P%&-%. e*#r# )* .'$%9",!%#S 0%,7%,!'# )% 0'.3%=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?h@

g= ',$%,"% )* +"#-%' :'+*"e')",!%>= )*$'++* )*+ ,'9'&*,%= #',$8'&"% %#*P%& -%. e*#r# )* .'$%9",!%#S 0%,7%,!'# )% 0'.3%=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?hf

#*+*00"J, )* ".47*,*#

#'+O')%& )* -'!6'= "7+*#"' 1 0%,O*,$% )* #', 2&',0"#0%='+$'& )* +' 0'3"++' .'1%&

+I< GYCI< ;DH EGKZRKFG EGKWDKFRIH ;D #IK 2CIKEB<EG <D CDIHBbICGK DKFCD fiji QfsAi= +I BVHD<BI ;D THIKFI ;D ECRb HIFBKI EGK FCD< KIWD< Q ECREDCG TGEG TCGNRK;GSEGKNBVRCI RK VCIK D<TIEBG D<EDKGVC\NBEG UG;RHI;G TGC RKI TCGNR<I ;DEGCIEBLK ;DFIHHI ;GCI;I CDIHBbI;I TGC DH aDCUIKG NCIQ +RB< ;D eD<k<= *K HI EITBHHI UIQGC <GYCD<IXHD DH CDFIYHG TCD<B;B;G TGC HI D<ERHFRCI ;DH IYCIbG ;D 0CB<FG EGK #IK 2CIKEB<EGS ^RDD<F\ NGCUI;G TGC VCRD<I< EGHRUKI< <IHGULKBEI< Q RKI TCGNR<I GCKIUDKFIEBLK I YI<D;D KBdG< ^RD ZRDVIK EGK CIEBUG< ;D RWI<S ^RDCRYBKD<S T\UTIKG<S CGHDG< Q ;DU\<

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?h?

UGFBWG< WDVDFIHD<= )D<;D D<FD UGKRUDKFIH D<TIEBG ;D HI EITBHHI UIQGC <D DcFBDK;D HI;DEGCIEBLK IH CD<FG ;DH FDUTHGS ;GK;D CDFIYHG< Q FIHHI GCKIUDKFIH <D EGUYBKIK EGKTIKDHD< ;D IbRHDZG< Q CDFIYHG<S DKFCD HG< ^RD ;D<FIEIK DH ;D;BEI;G I ,RD<FCI #DdGCI;D HI 7HGCBIS CDIHBbI;G DKFCD fshf Q fshpS ^RD ICCIKEI ;D ERIFCG EICB\FB;D< ;D UI;DCITGHBECGUI;I= +G< IbRHDZG< ;D HI EITBHHI UIQGCS EGK HI EICIEFDCM<FBEI TGHBECGUMI DK IbRHQ YHIKEG ;DH IbRHDZG TGCFRVR_< ;DH <BVHG `O"""S TCGED;DK ;D +B<YGI ;DH FIHHDC ;D-ICFGHGUDR 'KFRKD< ;D eD<k<S EGK TIKDHD< <GYCD HI WB;I ;D #IK 2CIKEB<EG= +I BVHD<BI<D EGUTHDFI EGK RKI YLWD;I ;D EIdLK EGKNGCUI;I TGC EI<DFGKD< Q CDERI;CG< ^RDIHGZIK TBKFRCI< URCIHD<=

)DH CD<FG ;DH CDEBKFG EGKWDKFRIH <GYCD<IHD HI ;DEGCIEBLK ;D IbRHDZG< TCGED;DKFD<;D HG< FIHHDCD< HB<YGDFI< ^RD CDERYCD DH EHIR<FCGS DH CDNDEFGCBG Q HI DKNDCUDCMI= )D<FIEIKHG< ;DH EHIR<FCGS CDTCD<DKFIK;G DK HI VIHDCMI YIZI D<EDKI< ;D HI VHGCBNBEIEBLK ;D HIWBCFR;S DH D<TMCBFR ;D TGYCDbIS HI aRB;I ;DH FBDUTG Q HG< WBEBG<l UBDKFCI< ^RD DK HIVIHDCMI IHFI ITICDEDK IbRHDZG< EGK <GH;I;G< CGUIKG< Q ERIFCG <DCBD< ^RD CDTCD<DKFIKHI< ERIFCG D<FIEBGKD< ;DH IdGS HI< ERIFCG TICFD< ;DH URK;GS HG< EBKEG <DKFB;G<S Q HIVRDCCI Q HI TIb EGK EGUYIFD<=

e%†% 3*##%'= 0%,O*,$% )* #', ',$%,"%= ,'O* )* +' "7+*#"'=

+I< GYCI< ;D D<FD aDCUG<G EGKWDKFG NCIKEB<EIKG <D BKBEBICGK I TCBKEBTBG< ;DH <BVHG`O"""S EGK<IVC\K;G<D <R BVHD<BI DK DH IdG ;D fsph= 3CD<DKFI RK IFCBG ;DEGCI;G EGKTIKDHD< ;D IbRHDZG< EGK D<EDKI< ;D HI TI<BLKS IbRHDZG< ^RD FIUYB_K <D ITHBEIK DK HINCIKZI ^RD <DTICI HG< ;G< TB<G< ;DH EHIR<FCG= *H FDUTHGS ;D RKI <GHI KIWD Q VCIKHRUBKG<B;I;S ;D<FIEI TGC HI TBKFRCI DK [^RI;CIFRCI] ;D HI YLWD;I ;D UI;DCIS EGKNGCUI ;D UD;BG TRKFG CDYIZI;GS HI ERIH D< IFCBYRB;I TGC DH BKWD<FBVI;GC 0ICHG< %FF IHTBKFGC eG<_ eGI^RBU ;I &GEaIS UBDKFCI< ^RD .BCBIU &BYDBCG HI EGK<B;DCI GYCI ;DIHVkK <DVRB;GC ;D <R D<FBHG= #D ;DYI G KG IH UID<FCGS D<FD EBDHG CI<G D< EGUTICIYHD IHFCBRKNG ;D HI "KUIERHI;I ;D HI ERYBDCFI ;D HI BVHD<BI ;D 0GKEDTEBLK ;D HI 3HIQI DK#IHWI;GC ;D -IaMIS GYCI ;D &GEaI= 8K CBEG TCGVCIUI ;D IC^RBFDEFRCI DK TDC<TDEFBWISNGCUI;G TGC DKFIYHIUDKFG< Q ICEG<S D< DH D<EDKICBG ^RD IEGVD HI< CDTCD<DKFIEBGKD<;D HG< TI;CD< ;D HI BVHD<BIS TITI<S ICE\KVDHD< FCGUTDFDCG< Q \KVDHD< EGK VRBCKIH;I< ;DNHGCD<S EGUYBKI;G< EGK UD;IHHGKD< EGK D<EDKI< ;D HI WB;I ;D #IK 2CIKEB<EG= *K DHEDKFCG ;D HI YLWD;I ITICDED DH FCBRKNG ;DH TI;CD <DC\NBEG YIZG HI TCGFDEEBLK ;D HIOBCVDK .ICMIS CG;DI;G ;D <IKFG< Q U\CFBCD< ;D <R GC;DK=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?hp

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?hh

',$%,"% )* +"#-%' :'+*"e')",!%>= #',$' ',' .'*#$&'= .')*&'$'++')' 1 3%+"0&%.')'= .8#*% )*+ %&%S #'-'&'=

*<FI GYCI IFCBYRB;I I 'HDBZI;BaKG ;DYD TDCFDKDEDC IH TCBUDC TDCBG;G ;D HI TCG;REXEBLK ;DH ICFB<FIS ;DNBKB;G TGC HI< BU\VDKD< ;GERUDKFI;I< ;D #IK #BULK #FGEn Q #IKeRIK ;D HI 0CRb ;DH EGKWDKFG ;DH 0ICUG ;D #IYICIS CDIHBbI;I< DKFCD fsss Q fssj= *H<DVRK;G TDCBG;G D<FICMI ;DNBKB;G TGC <R TCG;REEBLK TG<FDCBGC I fsgi Q ^RD;ICMIBKIRVRCI;I TGC HG< VCRTG< D<ERHFLCBEG< ;D HI TI<BLK ;DH #IKFRICBG ;G #DKaGC -GUeD<k< ;D .IFGbBKaG<S DK 0GKVGKaI< ;G 0IUTG=

+I BUIVDK ;D #IKFI 'KI UID<FCI D< ;D RK VCIK KIFRCIHB<UGS UIKBND<F\K;G<D HIEIHB;I; F_EKBEI ;D 'HDBZI;BKaG DK DH IYRK;IKFD THDVI;G ;D HI< WD<FBUDKFI<S CBEIUDKFDD<FGNI;I<= *<FI< EICIEFDCM<FBEI< EGKFCI<FIK EGK HI< ^RD TCD<DKFIK <R< GYCI< TG<FDCBGXCD<S UREaG< U\< D<FBHBbI;I<S FIHHIK;G HG< WD<FB;G< DK HICVG< THIKG< EGCFI;G< TGC ICB<XFI< WBWI< Q ^RBFIK;G HG< DNDEFG< GCKIUDKFIHD< ;D HI <BKRG<B;I; ;D HG< EIYDHHG<=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?hA

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?hi

'3/,)"0* )%08.*,$'+

"= #',$8'&"% )*+ -%. e*#r# )* .'$%9",!%# *, 0%,7%,!'# )%"= 0'.3%S .",'# 7*&'"#f

+I WDC<BLK YCI<BHDdI ;DH #IECG .GKFD D< HI ;DH -GU eD<k< ;D .IFGbBKaG<S DK0GKVGKaI< ;DH 0IUTGS ;DH D<FI;G ;D .BKI< 7DCIB<S ERQG GCBVDK <D ;DYD I RKITCGUD<I ;DH UBKDCG 2DHBEBIKG .DK;D<S ^RD D<FIYI VCIWDUDKFD DKNDCUGS Q ^RD NRK;LRK <IKFRICBG DK fsAs I BUBFIEBLK ;DH -GU eD<k< ;D .IFGbBKaG<S EDCEI ;D %TGCFGSTDCG DH UG;DHG CDIHUDKFD FDKB;G DK ERDKFI NRD DH ;D -CIVI= #B YBDK DH YCI<BHDdG D<U\< <DKEBHHG ^RD DH UG;DHG TGCFRVR_<S <BVRD DH UG;DHG Y\<BEG ;DH #IECG .GKFD TGC HI;B<FCBYREBLK ;DH D<TIEBG Q HI DcaBYBEBLK BEGKGVC\NBEI= 3GC RK FDCCDKG DK TDK;BDKFD;B<ERCCD DH WBIECREB< EGK <DB< aBFG<S HI< <DB< EITBHHI< ^RD VRIC;IK HG< TI<G< CDIHBbI;G<TGC HG< <DVRB;GCD< ;DH 'HDBZI;BKaG S IRK^RD EGK HI aRDHHI ;BCDEFI ;DH UID<FCG DK HI<BU\VDKD< ;D 0CB<FGl ;D HI EITBHHI ;D HI 0DKI :f>S <D TIS HI ;DH 3CDK;BUBDKFG ;D eD<k< :p>S HI ;D HI 2HIVDHIEBLK Q0GCGKIEBLK :h>S ;D 0CB<FG EGK HI 0CRb I ERD<FI< :A> Q ;D HI 0CREBNBcBLK :i>= *<FI<EITBHHI< <D EGK<FCRQDCGK ;D fj@? I fjfjS TDCG HI BVHD<BI ;DH UGKFD aIYMI <B;G FDCUBKIX;I aIEBI fssfl Q FCD< HR<FCG< U\< FIC;DS DH 'HDBZI;BKaG Q <R FIHHDC DUTCDK;BDCGK HG<TCGNDFI< ;D HI< FDCCIbI< Q HI< BU\VDKD< UDKEBGKI;I< ;D HG< TI<G<S FDCUBKI;G< DK HINDEaI ;D fj@A=

*H EIUBKG I<EDK;DKFD ;DH WBIECREB< HHDWI I RKI THIFINGCUIS IKFD DH FDUTHGS EGKUGKRUDKFIH D<EIHBKIFIS ;DEGCI;I EGK ;GED TCGNDFI<S ^RD ERUTHDK HI UB<BLK ;D CDEGCX;IC DH UB<FDCBG ;D HI *KEICKIEBLK ;DH !BZG ;D )BG< Q <R TI<BLK= -IbBK aI ;BEaGIEDCFI;IUDKFD ^RD EGUTGKDK RK YIHHDF ;D TBD;CI= ,G D< HI TCBUDCI WDb ^RD DH ICFDYICCGEGS IKFD HI NIEaI;I ;D RKI BVHD<BI CDTCD<DKFI DH FDUI ;DH YIHHDF <IVCI;GS ERQIEGUTG<BEBLK GYD;DED I GTG<BEBGKD< Q EGUTDK<IEBGKD<S ;BEFI;I< TGC HI< HDQD< ;DHCBFUGl <D EGK<BVRD RK EGKEBDCFG ;D IEFBFR;D<S VD<FG<S VCBFG<S DFE=S ^RD TCG;RED RKIICUGKMIS ;DHBEBG<I TICI DH D<TDEFI;GCl KG <D TRD;D EGK<B;DCIC HI< NBVRCI< IB<HI;I< DKNRKEBLK ;DH EGKZRKFG FDIFCIH ^RD CDTCD<DKFIK QI ^RD DH FDIFCG Q HI TH\<FBEI <D NRK;DKDK RKI RKB;I; <RTDCBGC= *H TCGYHDUI EITBFIH ^RD TCD<DKFI DH D<FR;BG ;D HG< TCGNDFI<;D 0GKVGKaI< D< DH CDNDCB;G I HI V_KD<B< ;D HI< D<FIFRI<S QI ^RD DHHI< I;UBFDK EGUTIXCIEBLK EGK HI< VCIK;D< GYCI< ;D HI UB<UI FBTGHGVMIS QI <DIK ;D #HRFDC G ;D .BVRDH4KVDH= 0IYD TCDVRKFIC<D5 €;D ;LK;D aIK <IHB;G FIK DcFCIdI< Q GCBVBKIHD< NBVRCI<~=3GC <RTRD<FGS KG ;DH -CI<BHS ;GK;D KG aIYMI FCI;BEBLK D<ERHFLCBEI= !IQ ^RD UBCIC aIEBI*RCGTIS Q QI -IbBKS DK <R BUTGCFIKFD UGKGVCINMI <GYCD DH 'HDBZI;BKaG S ;BG EGKIHVRKI< <DCBD< VCIYI;I< ^RD <BK ;R;I UIKDZL 'KFGKBG 2CIKEB<EG ;D +B<YGIl DKFCDGFCI< HI< <DCBD< ;D RK VCIYI;GC IKLKBUG ;D 2HGCDKEBIS ^RD aIEBI fhs@S ;B<DdL RKG<TCGNDFI< <D;DKFD<S ^RD TCD<DKFIK KG TGEI< INBKB;I;D< EGK HG< UG;DHG< ^RD D<FR;BIX

f= #*-'#$"4, +J3*9S #IKFBIVGS .*#' 2"78*&%'S eG<_ Q 7"#-*&$ )* .*#'S $DCD<I='CFD BYDCGIUDCBEIKG ;D<;D HI EGHGKBbIEBLK I HI "K;DTDK;DKEBI = [#RUUI 'CFB<]S OGH= ``"`S*<TI<IX0IHTDS .I;CB;S fgjAXfgjgS 3\V<= fh@Xfhh=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?hs

UG<S D<TDEBIHUDKFD DK DH D<FR;BG ;D HI< EIYDbI<S FIKFG DK HI< YICYI< IYRK;G<I< EGUGDK HG< FRCYIKFD< ;D VR<FG GCBDKFIHl -IbBK <DdIHL FIUYB_K ^RD HG< I;GCKG< ;D HI< GCHI<;D HG< UIKFG< KG <GK ;DH D<FBHG ;DEGCIFBWG ;DH <BVHG `O"""S <BKG ;D HI UG;I CDKIEDKXFB<FI= #DYI<FB\KS TGC <R TICFDS BK;BEL ^RD DH 'HDBZI;BKaG TR;G EGKGEDC HI <DCBD ;D eG;DQ D<TDEBIHUDKFD HG< TCGNDFI< ;D 0ICDH ;D .IHHDCQS IKFDCBGCD< I fipA=

'aGCIS <RYIUG< HI D<EIHBKIFI Q WDIUG< ;D EDCEI ;D HG< TCGNDFI< ;D 0GKVGKaI<lHDIUG< <R UDK<IZD I KBWDH BEGKGVC\NBEG= *K DH BKBEBG ITICDEDK NCGKFIHUDKFD "<IMI< QeDCDUMI<S ITGQI;G< DK VCIK;D NBHIEFDCBI<S I UIKDCI ;D TBHI<FCI< Q D<ER;G<5 DHHG< D<F\KVRIC;IK;G HI TRDCFI UM<FBEI ;D HI CDTCD<DKFIEBLK IHDVLCBEI= "<IMI< D< DH TCBUDCG ;D HG<TCGNDFI< UIQGCD< ^RD aBbG DH IKRKEBG EHICBWB;DKFD ;DH .D<MI<l HI BK<ECBTEBLK IHR;D IHI HHIUI;I ;D "<IMI< IH UBKB<FDCBG TCGN_FBEGS TGC FIKFGS ;DYD ;D TRCBNBEIC <R< HIYBG< EGKRK EICYLK IC;BDKFDS FGUI;G ;DH IHFIC ;DH FDUTHG TGC RK <DCINMK= eDCDUMI< D< DH <DVRK;G;D HG< TCGNDFI< UIQGCD< Q TGC <R< FCIYIZG< Q ;GHGCD< NRD EGK<B;DCI;G DH TCGNDFI ;D HI3I<BLKS DK <R NBHIEFDCBI IHR;D IH IKRKEBG ;D HI EIRFBWB;I; Q <D HIUDKFI ;DH ;D<I<FCD ;DeR;DI Q ;D HI CRBKI ;D eDCR<IH_K= #BVKBNBEIFBWI NRD HI EGHGEIEBLK ;D FIHD< TCGNDFI< DKDH RUYCIH ;D HI FDCCIbI5 RKG <D HIUDKFI ;D HI CRBKI ;DH TRDYHG DHDVB;GS ^RD KG ^RBDCDBC aIEBI )BG<S Q DH GFCG <BDKFD EGK IC;GC <R UB<BLK TCGN_FBEI= 'H TBD ;DH TCBUDC FCIUGSEGK D<EIHDCI DK ;G< <DKFB;G<S FDKDUG Q I -ICRE :Bb^RBDC;I>= *HTCBUDCG URD<FCI <R CG<FCG ;D aGUYCD BHRUBKI;G ;D IERDC;G EGK HI WB<BLK ^RD FRWG ;DHI VHGCBI ;D )BG<S ^RD <D HD ITICDEBL DK RK EICCG FCBRKNIH ;D NRDVGS FBCI;G TGC ERIFCGIKBUIHD< IHI;G<= -ICRE D<F\ DK TG<BEBLK NCGKFIHS I;DU\< ;D TCD;BEIC HI *KEICKIEBLK;D 0CB<FGS IKRKEBI DH NBK ;DH URK;GS <DVkK ;BED HI NBHIEFDCBI= 'H HHDVIC HI D<EIHBKIFI IHI;CG S QI NCDKFD I HI TRDCFI ;D HI BVHD<BI D<F\K )IKBDH :Bb^RBDC;I> Q %<DI< :;DCDEaI>= +IEGHGEIEBLK ;DH TCBUDCG DK HRVIC FIK D<FCIF_VBEG D<F\ YBDK TDK<I;IS QI ^RD <R UB<UGKGUYCD BK;BEI D< DH FDLNGCGS Q HG< FDLHGVG< WBDCGK DK _H RKI TCDNBVRCI ;D 0CB<FGl)IKBDH IKRKEBL HI 0CREBNBcBLK Q TGC DHHG D< DH U\< TCLcBUG I HI EBUI ;DH UGKFD Q IRKI BVHD<BI ;D;BEI;I I HI 3I<BLK= ' <R< TBD< D<F\ DH IFCBYRFG ;DH HDLKS EGUG CDERDC;G;DH NG<GS D<EDKI ^RD <D BKFDCTCDFI EGUG DH FCBRKNG ;D 0CB<FG <GYCD HI URDCFDS Q I FIHTI<IZD IHR;D HI BK<ECBTEBLK TCDEB<IUDKFD= $IUYB_K HI EGHGEIEBLK ;D %<DI< TR;BDCIFDKDC RK <BVKBNBEI;G QI ^RD HI BK<ECBTEBLK IHR;D IH UIFCBUGKBG ;DH TCGNDFI EGK HITCG<FBFRFIS HG ^RD #IK "<B;GCG ;D #DWBHHI QI BKFDCTCDFL EGUG RKI TCDNBVRCI ;D HI RKBLK;D 0CB<FG EGK HI "VHD<BI=

'KFD DH I;CG Q I HG< DcFCDUG< FDKDUG< ;G< TCGNDFI< <BUBHICD< TGC <R EIC\EFDCIKRKEBI;GCD< ;DH NBK ;DH URK;G5 eGK\< :Bb^RBDC;I> Q eGDH :;DCDEaI>= *H TCBUDCG D< RKG;D HG< TGEG< ^RD FBDKD IFCBYRFGS HI YIHHDKIS DK ERQG WBDKFCD D<FRWG FCD< ;MI< Q FCD<KGEaD<S ^RD D< DH FBDUTG ^RD 0CB<FG D<FRWG DK DH <DTRHECG= *K ERIKFG I eGDH D< DHTCGNDFI ;DH eRBEBG 2BKIHS Q DK <R NBHIEFDCBI <D IHR;D I HI THIVI ;D HIKVG<FI Q <D aIEDRKI DcaGCFIEBLK I HI TDKBFDKEBI IKFD HI BKUBKDKEBI ;DH <RTCDUG ZRBEBG= 'H DcFCDUGBb^RBDC;G ;D HI FDCCIbI D<F\K HG< TCGNDFI< 'UL< Q 'Y;MI<l DH TCBUDCGS <DVkK HI BK<ECBTXEBLKS IKFD< ;D <DC TCGNDFI NRD TI<FGCS Q <R UDK<IZD EGKHHDWI HI B;DI ;D HI EGKWDC<BLKIKFD HI WDKB;I ;DH !BZG ;D )BG<= 'Y;MI< <DdIHI HI CRBKI TGC <R< ECMUDKD<S TGC DHHGHDWIKFI DH YCIbG ;DCDEaG TICI BK;BEIC ^RD HHDVIC\ DH ;MI ;D 1IW_ ERIK;G HG< UIHWI;G<<DC\K EI<FBVI;G<= 2BKIHUDKFDS IH DcFCDUG ;DCDEaG ;D HI FDCCIbI D<F\K HG< TCGNDFI<,IaRU Q !IYIERES DH TCBUDCG CDERDC;I DK <R BK<ECBTEBLK HI CRBKI ;D ,MKBWDS ERQG<ECMUDKD< CDERDC;I DK WDC<G< VCIK;BHGERDKFD<S D BKWBFI I HI EGKWDC<BLK Q I HI TDKBFDKX

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?hj

EBI= !IYIERES ^RD HDWIKFI <R YCIbG TICI <DdIHIC DK HG< EBDHG< I )BG<S ERQI TCGWB;DKXEBI VGYBDCKI DK DH URK;GS BKEHR<G I HG< <IYBG< EIH;DG<S ;D HG< ^RD aIYHI DK HI NBHIEFDXCBI=

$G;G HG ;BEaG CD<TGK;D I RKI HDEFRCI BEGKGVC\NBEIS UI< DH EGKZRKFG TICDED GYD;DXEDC I RKI B;DI U\< TCGNRK;I= 3ICDED <DC ^RD DK 0GKVGKaI< ;G 0IUTGS EGUG DK GFCI<ECDIEBGKD< ;D HI 0GKFCICCDNGCUI D<F\ EHICI RKI aRDHHI ;D FBTG UM<FBEGS QI ^RD HI< ICFD<TH\<FBEI< ;D D<FD TDCBG;G URD<FCIK VDKDCIHUDKFD HI DWGHREBLK ;DH TDK<IUBDKFG D<TBCBXFRIH= 3GEG <IYDUG< ;DH UDEDKI<S DH UBKDCG TGCFRVR_< 2DHBEBIKG .DK;D<S ^RD <D aIYMIDKCB^RDEB;G EGK HI< UBKI< ;D GCGl DK fsAs <D DKERDKFCI VCIWDUDKFD DKNDCUG Q ;DEBX;D FGUIC DH a\YBFG ;D DCUBFIdG TICI EGK<IVCIC DH CD<FG ;D <R WB;I I HI EGK<FCREEBLK ;DRK <IKFRICBGl DK <R UDKFD FBDKD DH UG;DHG TGCFRVR_< ;D -GU eD<k< ;D .IFGbBKaG<STDCG HI URDCFD HD <GCTCDK;BL DK fsiA= 3ICDED D<YGbIC<D HI aBTLFD<B< ;D ^RD DK 0GKXVGKaI< ;G 0IUTG <D FCIFL ;D CDNHDZIC RK I<TDEFG BUTGCFIKFD ;D HG< VCI;G< ;D HI WB;IUM<FBEIS HG ^RD NRD aIYBFRIH DK FIKFG< FCIFI;G< ;D HI 0GKFCICCDNGCUIS ^RD TCD<DKFIK HIWMI RKBFBWI EGUG HI VCIK WBEFGCBI ;DH IHUI ^RD <BVRD I 0CB<FG DK <R 3I<BLK= *< RKINGCUI D<TDEBIH ;D HI WB;I D<TBCBFRIHS HI WB;I CDTICI;GCIS TCGTBI ;D HG< TDCNDEFG<S ^RDYR<EIK HI RKBLK EGK )BG< I FCIW_< ;DH <RNCBUBDKFG Q ;D HI GCIEBLK=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?hg

0'36$8+% %0$'O%+'# '3%&$'0"%,*# '&$6#$"0'# )* 2"+"3",'#

*H CDHDWIKFD TITDH ^RD ZRVICGK HI< ICFD< TH\<FBEI< DK DH TCGED<G ;D NGCUIEBLK ;DHICEaBTB_HIVG NBHBTBKGS D<F\ MKFBUIUDKFD WBKERHI;G EGK HI ITICBEBLK ;D HI CRFI FCIK<TIXEMNBEI ;DH 7IHDLK ;D .IKBHI ;D<;D DH IdG fAiA Q aI<FI fjfA= ,G GY<FIKFD <R IK\HB<B<aI ;D TCGHGKVIC<D aI<FI DH NBK ;D HI TCD<DKEBI D<TIdGHI DK HI< B<HI< DK fjgjS QI ^RD<DCMIK KRUDCG<G< HG< DTB<G;BG< ;D BKFDCEIUYBG ^RD <D TCG;REBCMIK DK D<G< kHFBUG< jpIdG<=

'H aIYHIC ;D HI< ITGCFIEBGKD< ICFM<FBEI< ;DH ICEaBTB_HIVG NBHBTBKG ;DYDUG< ;BCBVBCKRD<FCI IFDKEBLK I HI _TGEI ;D UIQGC D<THDK;GC ^RD EGKGEBDCGK HI< B<HI<S EGBKEB;DKXFD< EGK DH D<FIYHDEBUBDKFG ;D HI HMKDI ;DH 7IHDLK ;D .IKBHIS FIUYB_K EGKGEB;G EGUGHI ,IG ;D 0aBKI= 2BHBTBKI< KG DCI RK FDCCBFGCBG CBEG DK TBD;CI< TCDEBG<I< KB DK GCGS I;BNDCDKEBI ;D GFCI< TG<D<BGKD< D<TIdGHI<S TDCG DK EIUYBG DCI RK DKEHIWD TCBWBHDVBI;GDK ERIKFG I <R <BFRIEBLK D<FCIF_VBEI DK DH 3IEMNBEGS DK DH ^RD EGKNHRMIK IHVRKI< CRFI<EGUDCEBIHD< ;DH <R;D<FD I<B\FBEG=

*<FD BKFDCEIUYBG IH ^RD <D DKEGKFCIYI DcTRD<FG DH ICEaBTB_HIVGS I TICFBC ;DH <BVHG`O" KG <D HBUBFL DcEHR<BWIUDKFD I HI TCD<DKEBI ;D HG I<B\FBEG= +I BK<DCEBLK ;D 2BHBTBXKI< DK HI CRFI U\< IUTHBI ^RD RKMI I _<FI< EGK *<TIdI I FCIW_< ;D 'U_CBEIS CDTDCERFBLDK DH DKCB^RDEBUBDKFG ;D HI< BKNHRDKEBI< I HI< ^RD <D WBDCGK DcTRD<FI<= )RCIKFD U\<;D FCD<EBDKFG< IdG< DH 7IHDLK ;D .IKBHI NRD RKI TCGHGKVIEBLK ;D HI CRFI ;D HI 0ICCDXCI ;D "K;BI< ^RD VICIKFBbIYI DH EGKFIEFG EGUDCEBIH DKFCD 'U_CBEI Q *RCGTI= *K D<D<DKFB;GS 'EITRHEG IEITICIYI HI HHDVI;I ;D TCG;REFG< ;D<;D '<BI Q I FCIW_< ;D HI CRFIBKFDCBGC ^RD HI EGURKBEIYI EGK HI EBR;I; ;D ODCIECRbS _<FG< <D BKEGCTGCIYIK IH EGKX ZRKFG ;D TRDCFG< EICBYDdG< ^RD IYI<FDEMIK HG< UDCEI;G< ;DH OBDZG 0GKFBKDKFD=

$G;G DHHG KG< HHDWI I THIKFDICKG< HI ERD<FBLK ;D ER\HD< NRDCGK HG< BKFDCD<D< D<TIXdGHD< DK HI< B<HI<S FDKBDK;G DK ERDKFI DH EG<FD FIK DHDWI;G ^RD <RTGKMI <R UIKFDKBXUBDKFGS HG ERIH KG aRYBDCI <B;G TG<BYHD <BK HI ITGCFIEBLK ;D CDERC<G< aRUIKG< ;D<;D,RDWI *<TIdI= *K TCBUDC HRVIC KG ;DYDUG< GHWB;IC ^RD HI EGURKB;I; CDHBVBG<I EGKX<B;DCIYI KDED<ICBG EGKFBKRIC EGK HI HIYGC EIFD^RBbI;GCI BKBEBI;I DK DH ,RDWG 0GKFBXKDKFDS KG FIKFG DK DH ICEaBTB_HIVG NBHBTBKG EGUG DK HI WDEBKI 0aBKIS TICI HG ERIH

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?A@

ICCBYICGK I HI< B<HI<S ^RD DCIK DH TDCNDEFG FCIUTGHMK TICI <R IWDKFRCI I<B\FBEIS IRK^RD_<FIS I TD<IC ;D HI< EGK<FIKFD< BKERC<BGKD< ;D HG< UB<BGKDCG< D<TIdGHD< KRKEI <D aBbGCDIHB;I;=

*K <DVRK;G HRVICS HI KRDWI CRFI ECDI;I TGC DH VGYBDCKG ;DH 7IHDLK ;D .IKBHISIRK^RD KG TCDFDK;MIS EGUG aDUG< EGUDKFI;G IKFD<S DcTHGFIC DEGKLUBEIUDKFD HG<CDERC<G< BKDcB<FDKFD< ;DH ICEaBTB_HIVGS <B NRD RK UD;BG BK;B<TDK<IYHD TICI DH DKCB^RDXEBUBDKFG ;D HI< ICEI< D<TIdGHI< VCIEBI< IH EGUDCEBG ;D GYZDFG< DcLFBEG< GCBDKFIHD<^RD D<FIYIK FIK ;D UG;I DK %EEB;DKFDS Q ;D HG< WDEBKG< ;D 2BHBTBKI<S EGKECDFIUDKFD;D .IKBHIS TRD< D<FIYI D<FBTRHI;G TGC HDQ ^RD HG< kKBEG< ^RD TG;MIK ;D<DUYICEIC HI<UDCEIKEMI< DCIK HG< ^RD aIYBFIYIK IHHMS GCBRK;G< G KGS <BDUTCD ^RD HHDWICIK RK FBDUTG;D RKG< ;BDb IdG< DK HI B<HI<S TICI DWBFIC HI TBEIC;MI ;D HG< EGUDCEBIKFD<=

+I BUTGCFIKEBI ;DH 7IHDLK ;D .IKBHI WI U\< IHH\ ;DH KRDWG UD;BG DK DH ^RD <DEGKWBCFBL ;D BKFDCEIUYBG ;D TCG;REFG< ;D TCBUDCI KDED<B;I; Q GYZDFG< ICFM<FBEG<S QI^RD TDCUBFBL ;BNRK;BC HI CDHBVBLK EIFLHBEI VCIEBI< I HG< EGKFBKVDKFD< ;D UB<BGKDCG< ^RDHHDVICGK ;D<;D DH EGUBDKbG= +I DWIKVDHBbIEBLK ;DH ICEaBTB_HIVG NRD BKBEBI;I TGC HG<IVR<FBKG< DK fAiAS QI ^RD DH ;D<ERYCB;GC ;D HI FGCKIWRDHFIS WBIZD ;D CDVCD<G ;D<;D DHICEaBTB_HIVG I 'U_CBEI TGC DH 3IEMNBEGS 'K;C_< ;D 8C;IKDFIS TDCFDKDEMI I D<FI GC;DK=2RD EGKFBKRI;I TGC HG< NCIKEB<EIKG< DK fAsjS ^RD KG <D HBUBFICMIK I HI <BUTHD DWIKVDXHBbIEBLK ;D 2BHBTBKI<S <BKG ^RD HG BKFDKFICGK DK 0aBKIS HG ^RD HD< EG<FL DH UICFBCBG ;DI^RDHHG< ^RD DKEIYDbICGK HI< ;B<FBKFI< DcTD;BEBGKD<= 3G<FDCBGCUDKFD <D HD< RKBDCGKHG< ZD<RBFI< DK fAjfS Q DK fAjs HG< ;GUBKBEG<S BKEGCTGC\K;G<D DK fi@i HG< IVR<FBKG<CDEGHDFG<= +I HIYGC UB<BGKIH NRD HHDWI;I I EIYG TGC RK IHFG KkUDCG ;D CDHBVBG<G<S<BDK;G ITCGcBUI;IUDKFD ?jp@ IVR<FBKG<S ?igh NCIKEB<EIKG<S ?pfj ;GUBKBEG<S fi?pCDEGHDFG< ;D #IK 'VR<FMK Q sfj ZD<RBFI<=

+I< EBKEG LC;DKD< DEHD<B\<FBEI< FDKMIK DK .IKBHI <R EGKWDKFG TCBKEBTIHS ;GK;DWBWMIK HG< CDHBVBG<G< ;D EI;I EGKVCDVIEBLKS ;D<;D ;GK;D BCCI;BICGK HI DWIKVDHBbIEBLKI FG;G DH ICEaBTB_HIVG ECDIK;G <R< 3CGWBKEBI< CDHBVBG<I<= +I ;D HG< IVR<FBKG< <D HHIUIXYI ;DH #IKFM<BUG ,GUYCD ;D eD<k<S HI ;D HG< NCIKEB<EIKG< DCI HI ;D #IK 7CDVGCBG.IVKGS Q TGC kHFBUG HI ;D HG< ;GUBKBEG< ;DKGUBKI;I ;DH #IKFM<BUG &G<ICBG=

,G <LHG NRD HI BKNHRDKEBI CDHBVBG<I TCBUGC;BIH DK HI NGCUIEBLK ;D RK ICFD NBHBTBKG IRFLEXFGKGS <BKG ^RD DH GCBVDK I<B\FBEG ;D HG< GYZDFG<S TCDNDCDKFDUDKFD ;D 0aBKI Q eITLKS ^RDWBIZIYIK DK HI< KIWD< ^RD HHDVIYIK TCBKEBTIHUDKFD I .IKBHIS BKEDKFBWL I ^RD UREaI< ;DHI< TBDbI< DHIYGCI;I< DK 2BHBTBKI< FRWBDCIK RK IHFG EGUTGKDKFD GCBDKFIHBbIKFD ^RD WDCDXUG< U\< I;DHIKFD DK DH IK\HB<B< ;D HI< UB<UI<= )D aDEaG HG< ICFD<IKG< ̂ RD DZDERFIYIK HG<DKEICVG< D<TIdGHD< ;D<;D DH BKBEBG ;D HI TCD<DKEBI D<TIdGHI DK 2BHBTBKI< NRDCGK EaBKG<SEGKGEB;G< EGUG <IKVHDQD<= *H F_CUBKG <D TBDK<I ̂ RD TCGED;D G YBDK ;D HI DcTCD<BLK EaBKI<aIKVHIB [HG< WDKB;G< I EGUDCEBIC]S G ;DH F_CUBKG <DKVHB S ̂ RD <BVKBNBEI [EGUDCEBG] DK DH;BIHDEFG UBKKIKaRI ;D 2RZBIK= $IUYB_K TR;BDCI ;DCBWIC ;D HI DcTCD<BLK EaBKIEaIKVHIB S D<;DEBCS [HG< ̂ RD WBDKDK EGK NCDERDKEBI]=

f= +' )"28#"J, )* +%# .%)*+%#= +%# 7&'-')%#

+G< <IKVHDQD< BUBFIYIK HI< NGCUI< ^RD WDMIK DK HG< VCIYI;G< Q D<FIUTI< ^RDHHDVIYIK ;D UIKG< ;D HG< UB<BGKDCG< D<TIdGHD< IRK^RD I;ITF\K;GHI< I RKI D<F_FBEIDUBKDKFDUDKFD I<B\FBEI=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?Af

7&'-')% "+8#$&'$"O% )*+ +"-&% +'-%& *O',7/+"0' )* +%# %-&*&%# )* +'0%.3'P6' )* e*#r# *, +'# "#+'# 2"+"3",'# 3%& *+ 3')&* 0%+",=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?Ap

CDHBVBG<G< DKFDK;DC<D EGK HG< KIFBWG< ;DH ICEaBTB_HIVG= 3CGVCD<BWIUDKFD <D NRDCGKBK<DCFIK;G GFCG< ;DFIHHD< ^RD EGUTHDUDKFIYIK DH HBYCG I KBWDH D<F_FBEGS EGUG HI RFBHBXbIEBLK ;D HG< VCIYI;G<S ^RD I HI WDb ITGCFIYIK RK ECBFDCBG TD;IVLVBEG BUTGCFIKFD=

+G< VCIYI;GCD< U\< ;D<FIEI;G< NRDCGK HG< aDCUIKG< 0GCCDI Q ,BEGH\< ;D HI 0CRb-IVIQ ZRKFG EGK +IRCDIKG 'FHI<S DH ERIH ;D<FIEL DKFCD GFCI< GYCI< TGC HI D<FIUTI ^RDCDTCD<DKFI DH '<TDEFG <BUYLHBEG ;DH .RK;G !B<T\KBEG S ;D fsif DK HI GYCI ;D OBEDKFD.DUBZDS ^RD EGUDKFICDUG< DK HI <DHDEEBLK ;D GYCI<=

3G;DUG< TGC FIKFG EGKEHRBC ^RD HI VCIK UIQGCMI ;D HI< UIKBND<FIEBGKD< ICFM<FBEI<^RD WIUG< I IKIHBbIC I EGKFBKRIEBLK TICFDK ;D RK NRDCFD EIC\EFDC CDHBVBG<G BKEGCTGCIX;G I HI D<F_FBEI I<B\FBEI UIQGCBFICBI DK DH FC\NBEG ICFM<FBEG ;DH 7IHDLK ;D .IKBHI=

?= 3",$8&'

*H D<FR;BG ;D HI TCG;REEBLK TBEFLCBEI DK HI< B<HI< 2BHBTBKI< I HG HICVG ;DH TDCMG;G ;DHI TCD<DKEBI D<TIdGHI CD^RBDCD ;D RK DZDCEBEBG ;D <MKFD<B<S FIKFG TGC HG< DZDUTHG<;B<TDC<G< ^RD <D TRD;DK IkK DKEGKFCICS EGUG TGC HI KDED<ICBI CD;REEBLK I EICIEFDCM<XFBEI< VDKDCIHD< ;D HG< D<EI<G< FD<FBUGKBG< ^RD DcB<FDK ;D ;DFDCUBKI;I< _TGEI<= +IBUTG<BYBHB;I; ;D HHDWIC I EIYG RK IK\HB<B< DcaIR<FBWG ;D HI< UB<UI<S KG< aIC\ ;BWB;BCD<FD CDEGCCB;G DK ;G< EIUTG< YBDK ;BNDCDKEBI;G<S HI TBKFRCI ;D BKFDCBGCD<S DK HI ^RDDKEGKFCICDUG< FIKFG DZDUTHG< <GYCD TICD; EGUG UI;DCIS Q HI TBKFRCI TCGTBIUDKFD ;DEIYIHHDFD ;D HI ^RD <D FBDKD RK CDTDCFGCBG ;B<EGKFBKRG ;D<;D HG< TCBUDCG< IdG< Q aI<FIDH <BVHG `"`=

#D FCIFI ;D RKI TCG;REEBLK ^RD IH BVRIH ^RD DK HI IC^RBFDEFRCI aI WB<FG ;BDbUI;G<HG< CDNDCDKFD< HHDVI;G< I KG<GFCG< FIKFG TGC EIF\<FCGND< KIFRCIHD< EGUG TGC HI IEEBLK;DH aGUYCDS TGC HG ^RD FCIYIZICDUG< EGK DZDUTHG< ^RD VCIEBI< I <RED<BWI< CD<FIRCIXEBGKD< aIK TDCWBWB;G aI<FI HI IEFRIHB;I;=

?=f= +I TBKFRCI ;D BKFDCBGCD<

,G <GK TGEG< HG< IRFGCD< ^RD <DdIHIK DH EIC\EFDC CDHBVBG<G ;D HI TBKFRCI NBHBTBKIaI<FI DH <BVHG `"`S DK EHICI IHR<BLK I <R NRKEBLK EGUG BK<FCRUDKFG I;GEFCBKI;GC ^RD ZRVICMI ;D<;D HG< TCBUDCG< UGUDKFG< ;D HI TCD<DKEBI D<TIdGHI= *K D<FD <DKFB;GS HI<;DEGCIEBGKD< ;D HG< BKFDCBGCD< ;D BVHD<BI< <D EGKWDCFBCMIK DK RKG ;D HG< EITMFRHG< U\<BKFDCD<IKFD< ;D HG< ^RD TGC ;D<VCIEBI KG< aIK HHDVI;G TGEG< DZDUTHG<S DK IHVRKG<EI<G< VCIEBI< I <RED<BWI< CD<FIRCIEBGKD< G CDDHIYGCIEBGKD< ^RD KI;I FBDKDK ^RD WDCEGK <R< BKBEBIHD< TCGVCIUI<=

*K HMKDI< VDKDCIHD< TG;DUG< ;DEBC ^RD HI FDK;DKEBI TBEFLCBEI DK HG< BKFDCBGCD< ;DBVHD<BI< NBHBTBKI< D< I GERTIC FG;I HI <RTDCNBEBD= +G< UGFBWG< ;DEGCIFBWG< FBDK;DK IECDIC TCGVCIUI< RKBFICBG< ^RD FBDKDK TGC GYZDFG CDECDIC VCIK;D< D<EDKGVCINMI<S EHICGEGUTHDUDKFG I HG< ;D<ICCGHHG< ;D HI HBFRCVBI DK D<FG< BKFDCBGCD<=

*K RKG R GFCG EI<G <D EGTBICGK HG< UG;DHG< ^RD HHDVIYIK ;D<;D 'U_CBEI Q *<TIdI IFCIW_< ;DH VIHDLKS TICI HG ^RD <D DUTHDICGK DK IHVRKG< EI<G< HBDKbG< ^RD NRKEBGKIYIKEGUG CDNDCDKFD WB<RIH ;BCDEFGS FIKFG EGUTG<BFBWG EGUG ECGU\FBEGS I;DU\< ;D HG< VCIYI;G<

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?Ah

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cTCD<BWB;I; EBDCFIUDKFD UD;BDWIH DK HI ̂ RDBUTGCFIC\ U\< HG ̂ RD <D CDTCD<DKFI ̂ RD DH ELUG <D aIED=

)D<;D RK TRKFG EGUTG<BFBWG ;DYDUG< aIYHIC ;D HI ECDIEBLK ;D WDC;I;DCI< ^RIX ;CIFRCI< S ^RD GERTICIK FIKFG HI< TICD;D<S FDEaG< Q YLWD;I< ;D HI< BVHD<BI< EGUG <GHGHG< TICIUDKFG< WDCFBEIHD<S ;DNBKBDK;G D<TIEBG< ^RD <DC\K GERTI;G< TGC FG;G RK CDXTDCFGCBG BEGKGVC\NBEG ECB<FBIKG ;D<FBKI;G IH I;GEFCBKIUBDKFG ;DH NBDH= +G< D;BNBEBG<EGK ERYBDCFI< ;D UI;DCI GNCDEDK RKI UIQGC EGKFBKRB;I; DK DH DHDUDKFG ;DEGCIFBWGSUBDKFCI< ^RD HG< D<EI<G< DZDUTHG< DK HG< ^RD <D TRD;D TDCEBYBC RK BKFDCBGC ;D N\YCBEISHI ICFBERHIEBLK ;DH UB<UG NIWGCDED EGUTG<BEBGKD< EGUTICFBUDKFI;I< KG <GHG TBEFLCBXEIUDKFD <BKG FIUYB_K ;D RK UG;G NM<BEG=

+G< DZDUTHG< ^RD TG;DUG< ;D<FIEIC DK TBKFRCI ;DEGCIFBWI <GK HG< ;D HI BVHD<BI ;D#IK 'VR<FMK DK BKFCIURCG<S <BDK;G DZDERFI;G DH TCGQDEFG TGC HG< D<EDKLVCING< BFIHBIXKG< 7BGWIKKB 'HYDCGKB Q 0D<ICD )BYDHHI DK DH <BVHG `"`S <BVRBDK;G HI F_EKBEI ;DHFCGUTDXHˆGDBH S ^RD <D CDNBDCD I HI BHR<BLK LTFBEI ECDI;I ;D UG;G ^RD TICDbEI CDIH HG^RD D<FI <BUTHDUDKFD TBKFI;G=

*ZDUTHG< ;D FDEaRUYCD< DK UI;DCI HG< TG;DUG< DKEGKFCIC DK HI BVHD<BI ;D #IK.BVRDH DK 'CVIGS EGK<FCRB;I DK fspj Q DK HI ^RD aIHHIUG< RKI UIVKMNBEI YLWD;I

.',"+'= ",$&'.8&%#= "7+*#"' )* #', '78#$6,= ",$*&"%&=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?AA

;DEGCI;I EGK D<EDKI< ;D HI -BYHBI G HI ;D HI BVHD<BI ;D -GHaGGKS DK HI B<HI ;D 0DYkSDK HI ^RD <D TRD;DK ITCDEBIC HI< UI;DCI< ;D HI YLWD;I DK HI< ^RD <D aI ITHBEI;G HI;DEGCIEBLK=

?=?= +I TBKFRCI ;D EIYIHHDFD

+I TCG;REEBLK TBEFLCBEI TCGED;DKFD ;D HG< TCBUDCG< <BVHG< ;D HI TCD<DKEBI D<TIdGXHI DK DH ICEaBTB_HIVG D< URQ D<EI<I= )D aDEaG <LHG <D FBDKD CDVB<FCI;I RKI TBKFRCI ;DH#IKFG ,BdG ;D 0DYk ;DTG<BFI;I DK DH .R<DG ;D 'U_CBEI= 'RK^RD D<FG KG ^RBDCD;DEBC ^RD KG <D FCIK<TGCFICIK TBKFRCI< DK HG< VIHDGKD< ^RD aIEMIK HI CRFI FCIK<TIEMNBXEIS <M KG< aIED CDNHDcBGKICS IH BVRIH ^RD DK DH ITICFI;G IKFDCBGCS <GYCD DH D<FI;G ;DEGK<DCWIEBLK DK DH ^RD KG< aIK HHDVI;GS QI ^RD DH UIFDCBIH ^RD <D RFBHBbIYI DK <RDHIYGCIEBLK DCI VDKDCIHUDKFD TDCVIUBKG=

0GK CD<TDEFG I HI HGEIHBbIEBLK ;D D<FD FBTG ;D TBKFRCI< DK HG< HB<FI;G< ;DH CDVB<FCG;D HG< EICVIUDKFG< ;DH 7IHDLK ;D .IKBHI EGKGEDUG< DZDUTHG< EGUG HI DcB<FDKEBI ;DDKWMG< QI FIC;MG< CDIHBbI;G< DK DH <BVHG `O"""S TICI DH &DIH 7IYBKDFD ;D !B<FGCBI ,IFRXCIH ;D<;D 2BHBTBKI<S TGC GC;DK ;D 0ICHG< """ TICI FDKDC RK UIQGC EGKGEBUBDKFG ;DH ICFDQ GFCI< ;B<EBTHBKI< ^RD <D CDIHBbIYIK DK D<FD ICEaBTB_HIVG=

1I DK DH <BVHG `"`S HI TCG;REEBLK <D CDVRHL EGK HI ECDIEBLK ;D HI 'EI;DUBI ;D)BYRZG Q 3BKFRCI DK fj?fS ERQG ;DWDKBC KG D< U\< ^RD DH CDNHDZG ;D HI EGKWRH<IaB<FGCBI ;D 2BHBTBKI< Q ^RD IEIYL CDTDCERFBDK;G DK HI TCG;REEBLK TBEFLCBEI ;DH TIM<=0DCCI;I DK fjph TGC NIHFI ;D NGK;G<S WGHWBL I IYCBC <R< TRDCFI< DK fjhg EGK HIHHDVI;I ;D TCGND<GCD< ;D *<TIdIS NIEBHBFIK;G HI DKFCI;I ;D BKNHRDKEBI< DRCGTDI< ^RDIEIYICGK TGC BUTHIKFIC<D DK HI TCG;REEBLK ;D EI;I RKG ;D HG< TBKFGCD< ^RD <D NGCUIXCGK DK HI UB<UI=

+I TBKFRCI NBHBTBKI <D IYCBL I FG;G< HG< EIUTG< ^RD HD GNCDEMIK HI TG<BYBHB;I; ;DCDNHDZIC FG;G< Q EI;I RKG ;D HG< I<TDEFG< ;DH TIM<= +I FDU\FBEI CDHBVBG<IS HI TGTRHIC GEG<FRUYCB<FIS DH CDFCIFGS G DH YG;DVLK DKFCD GFCG<S ;D<FIEIK;G DK D<FD kHFBUG V_KDCG QDK HI TBKFRCI HIBEI ICFB<FI< EGUG +GCDKbG 7RDCCDCGS 2DHBTD &GcI< Q 2_HBc .ICFMKDbDKFCD GFCG<=

+G< ICFB<FI NBHBTBKG< FCIYIZICGK DH LHDG Q HI IERICDHIS DcB<FBDK;G IHVRKG< EI<G< DKHG< ^RD TCG;BVICGK HI< TBKFRCI< URCIHD< DK HI< ^RD <D DUTHDICGK F_EKBEI< EGUG HI ;DHFCGUTDXHˆGDBHS EGUG TCGHGKVIEBLK ;D D<I TCG;REEBLK TCGTBI ;D HG< D<TIEBG< CDHBVBG<G<Q ^RD <D aI EGUDKFI;G DK DH ITICFI;G IKFDCBGC=

*KFCD HG< VCIK;D< TBKFGCD< NBHBTBKG< DKNIFBbIUG< HI NBVRCI ;D 2_HBc &D<RCCDEEBLK!B;IHVG Q eRIK +RKI Q ,GWBEBGS ^RBDKD< D<FR;BICGK DK *<TIdI Q FCBRKNICGK DK HI*cTG<BEBLK ;D -DHHI< 'CFD< ^RD <D EDHDYCL DK .I;CB; DK fjjh= *<FD kHFBUG VIKL HIUD;IHHI ;D GCG DK ;BEaI DcTG<BEBLK Q ;D<FIEL <GYCD FG;G TGC <R TCG;REEBLK ;DTBKFRCI aB<FLCBEI= $IUYB_K aBbG CDFCIFG<S TCIEFBEL DH TIB<IZDS CDIHBbL D<EDKI< EG<FRUXYCB<FI< Q FDUI< CDHBVBG<G<= +I< FDK;DKEBI< <GEBIHB<FI< Q DH FDUI ;DH FCIYIZG Q HG<FCIYIZI;GCD< <D ;DZICGK WDC DK <R TCG;REEBLK=

2RD DK D<FD UGUDKFG ERIK;G ;D<TR_< ;D HI DTB;DUBI ;D ELHDCI ;D fjj?S <D NRK;LDK .IKBHI DH I<BHG ;D #IKFI &BFI TICI KBdG< aR_CNIKG<S I HG< ^RD <D TCGWDMI ;D UIKRXFDKEBLKS D;REIEBLK Q DK<DdIKbI= 3ICI D<FG kHFBUG EGKFIYI EGK FIHHDCD< ;D D<ERHFRCIS



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?Ai

e8', +8,' 1 ,%O"0"%= *#3'P' 78"',)% ' 2"+"3",'# 3%& *+ 0'.",% )*+ 3&%7&*#% =

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?As

EDC\UBEIS TBKFRCI Q UG;DHI;G= *K fjg? HI D<ERDHI NRD FCI<HI;I;I I RK D;BNBEBG U\<IUTHBGS ;GK;D HG< IVR<FBKG< DK<DdIYIK HDFCI<S TBKFRCIS ;BYRZGS D<ERHFRCIS UG;DHI;GSBUTCD<BLK Q DKERI;DCKIEBLKS _<FI NRD HI TCBUDCI D<ERDHI ;D ICFD< Q GNBEBG< ;D 2BHBTBKI<^RDUI;I DK HI< CDWRDHFI< BK;DTDK;DKFB<FI< ;D fjgj=

p= *#08+$8&'

#BK ;R;I ;DKFCG ;DH EGKZRKFG ;D HI< ICFD< TH\<FBEI< NBHBTBKI< WI I <DC DK DH EIUTG;D HI D<ERHFRCI ;GK;D <D EGK<DCWDK HG< DZDUTHG< U\< YDHHG< Q CDWDHI;GCD< ;DH ICFDNBHBTBKGS ;D<FIEIK;G HI D<ERHFRCI DK UICNBH TGC <R ;DHBEI;I FIHHIS IRK^RD KG KG< TG;DXUG< GHWB;IC ;D HG< DZDUTHG< ;D D<ERHFRCI DK UI;DCIS FIKFG HI DcDKFI EGUG HG< EGKZRKXFG< CDFIYHM<FBEG<=

8KI ;D HI< TCBUDCI< BU\VDKD< ^RD BK<TBCICGK UG;DHG< TG<FDCBGCD< WI I <DC HI DKXEGKFCI;I TGC +DVIbTB DK fAiA ERIK;G <D D<FIYHDED DK HI B<HI ;D 0DYk= #D FCIFI ;D HIEGKGEB;I EGUG #IKFG ,BdG ;D 0DYkS D<ERHFRCI ^RD HHDWICGK HG< DcTD;BEBGKICBG< IHUIK;G ;D .IVIHHIKD<= #R aIHHIbVG <D EGK<B;DCL TGC FIKFG RK aDEaG UBHIVCG<GS QI^RD <D aIYMI EGK<DCWI;G ;RCIKFD FG;G D<FD FBDUTGS IH ERB;I;G ;D HG< aIYBFIKFD< ;D HIB<HI=

p=f= *<ERHFRCI DK UI;DCI

*<FD FBTG ;D D<ERHFRCI< DZDERFI;I< DK UI;DCI NRDCGK CDIHBbI;I< DcEHR<BWIUDKFDTGC NBHBTBKG<S HG ^RD EGK;BEBGKL EGK<B;DCIYHDUDKFD <R EIHB;I; NBKIH= +I WICBD;I; ;DUI;DCI< ^RD <D RFBHBbICGK TICI HI DHIYGCIEBLK ;D HG< <IKFG< NBHBTBKG<S EGUG <D EGKGEDI HI BUIVBKDCMI ;DH ICEaBTB_HIVGS <D EHI<BNBEIK NGCUIHUDKFD DK FCD< D<FBHG<S <DVkK 9LYDH;D 'QIHI5 DH TGTRHICS DH EH\<BEG Q DH I;GCKI;G=

*H D<FBHG TGTRHIC <D EICIEFDCBbI TGC D<ERHFRCI< CDIHBbI;I< TGC ICFB<FI< KG TCGND<BGXKIHD<= 7DKFD ^RD KDED<BFI ;D RKI< BU\VDKD< ;DWGEBGKIHD< ;GU_<FBEI< TICI CDbIC DK<R< aGVICD<S HG ERIH ;DFDCUBKI ^RD <DIK DHHG< UB<UG< ^RBDKD< ;BCDEFIUDKFD aIVIKD<FI< GYCI<= #D DKNIFBbI HI BEGKGVCINMI TGC DKEBUI ;D HI NGCUI= /<FI< FBDKDK YI<FIKFD<HBUBFIEBGKD< TGC <DC EGUTG<BEBGKD< CMVB;I< Q ;D TD^RDdG FIUIdG= #D RFBHBbI HI UI;DCIYHIK;IS KGCUIHUDKFD TGHBECGUI;I TGC ICFB<FI< ;B<FBKFG< I HG< D<ERHFGCD<S EGK EGHGCD<BKFDK<G<S EGUG DH UGCI;GS DH IUICBHHGS WDC;D Q CGZG= *K IHVRKI< GEI<BGKD< KG< WIUG<I DKEGKFCIC TD^RDdI< D<ERHFRCI< UDFB;I< DK RKI< YGFDHHI< I UG;G ;D TD^RDdG IHFICSTCGTBI< ;D HI< EHI<D< TGTRHICD<S ^RD <D ;DKGUBKIYIK WBCBKI< =

*H D<FBHG EH\<BEG D< U\< <GNB<FBEI;G DK ITICBDKEBIS HHDVIK;G BKEHR<G D<FI UB<UIEHI<BNBEIEBLK I <DC ITHBEI;I FIUYB_K I HG< UICNBHD<= *<FD FBTG ;D D<ERHFRCI BKFDKFITGFDKEBIC HI UIFDCBI Q <D CDIHBbI YIZG HI BKNHRDKEBI ;DH YICCGEG DRCGTDGS TDCG EGKIHVRKG< UGFBWG< ;DEGCIFBWG< ;D BKNHRDKEBI EaBKIS <GYCD FG;G DK HI< TCGTGCEBGKD<S DHR<G ;DH ;CITDI;GS DFE= #D RFBHBbI UI;DCI ;RCI G UD;BIS Q KGCUIHUDKFD HI< UIKG< Q HIEIYDbI <D FIHHIK <DTICI;G< ;DH ERDCTG Q HRDVG <D RKDK= $IUYB_K ITICDEDK ;DKFCG ;DD<FD D<FBHG CDHBDWD< TICI ;DEGCIC HG< CDFIYHG<S BK<TBCI;G< DK UG;DHG< ;D VCIYI;G<DRCGTDG<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?Aj

#',$% ,"P% )* 0*-r=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?i@

*H FDCEDC D<FBHG D< DH I;GCKI;G= /<FD EGCCD<TGK;D IH <BVHG Ò"""S Q ;RCIKFD D<FIDFITI ITICDEDK RKI <DCBD ;D NBVRCI< ;D WD<FBCS VDKDCIHUDKFD EGK DH ERDCTG ;D UI;DCIQ HI< UIKG<S CG<FCG Q TBD< ;D UICNBHS CDIHBbI;I< EGK UI;DCI YHIK;IS Q I;GCKI;I< EGKTDHREI<S GZG< ;D ECB<FIHS DFE= 3ICI HI ;DEGCIEBLK ;D HG< <IKFG<S I WDED< <D R<IYI DHD<FGNI;G FIH Q EGUG <D aIEBI DK *<TIdIS TDCG HI ITHBEIEBLK ;D HI TGHBECGUMI KG <BDUXTCD NRD HI EGCCDEFIS TGC^RD DK UREaG< EI<G< <D CDIHBbIYI DK ECR;GS <BK D<FREI;G GTCDTICIEBLK TCDWBIS Q IH <DC DK GEI<BGKD< RK <GTGCFD D<ERHFLCBEG ;D TGEI TGCG<B;I;SHG< TBVUDKFG< KG TDKDFCIYIK DK HI UIFDCBIS EGK HG ERIH IKFD HG< EIUYBG< F_CUBEG< D<IEITI TBEFLCBEI <D aI TDC;B;G TC\EFBEIUDKFD DK <R FGFIHB;I;=

';DU\< ;D HG< <IKFG<S HI KDED<B;I; DWIKVDHBbI;GCI aIED ^RD <D ECDDK RKI <DCBD ;DGYZDFG< HBFkCVBEG< TICI I;GCKIC HI< BVHD<BI< EIFLHBEI< TDCG EGK RK <DKFB;G KG <GHIUDKXFD ;DEGCIFBWG <BKG DUBKDKFDUDKFD ;B;\EFBEGS TICI ^RD I FCIW_< ;D D<FI< BU\VDKD< HG<[BKNBDHD<]S EGUG <D HD< HHIUIYI DK HI< B<HI< I HG< KG YIRFBbI;G< TGC DH <IECIUDKFGECB<FBIKG ;DH YIRFB<UGS TR;BDCIK EGKGEDC Q ITCDK;DC DH UDK<IZD YMYHBEG=

' TICFBC ;D I^RM DK FG;I< HI< BVHD<BI< TG;DUG< DKEGKFCIC <IKFG< ;DH D<FBHG EH\<BEG DBKEHR<G DZDUTHG< ;D *<TIdI Q ._cBEG ^RD HHDVICGK I FCIW_< ;DH 7IHDLK ;D .IKBHISTCBKEBTIHUDKFD DK DH BKFDCBGC ;D CDFIYHG< ;DH Ò"" Q Ò""" ;D D<FBHG YICCGEG Q EGK RKINRDCFD BKNHRDKEBI GCBDKFIH DK HG< CDUIFD<S IRK^RD ;D<VCIEBI;IUDKFD HG< ;D<I<FCD< KIXFRCIHD< Q HI< VRDCCI< aIK ;D<FCRB;G HI UIQGCMIS TDC;RCIK;G DK HI IEFRIHB;I; HI< C_THBXEI< ^RD <D aBEBDCGK TICI <R<FBFRBC HG< GCBVBKIHD<= 'NGCFRKI;IUDKFD IkK TG;DUG<EGKFDUTHIC DcEDHDKFD< DZDUTHG< ;DH <DFDEBDKFG< DK HI "VHD<BI ;D #IK 'VR<FMKS RKI ;DHI< TGEI< ^RD TDCUIKDED BUTDCF_CCBFI DK DH EDKFCG ;D "KFCIURCG<S DWGE\K;GKG< ^RDD<FD D<TIEBG NRD DH VDCUDK ;DH I<DKFIUBDKFG D<TIdGH DK .IKBHI=

p=? *<ERHFRCI DK UICNBH

.RQ TCGKFG HG< <IKVHDQD< EGUDKbICGK I FGUIC CDNDCDKFD< ;D HI< BU\VDKD< ^RDHHDVIYIK I 2BHBTBKI<S IRK^RD UG;BNBEIK;G DH UIFDCBIH DK DH ^RD FCIYIZIYIK= $IHHIYIK DKUICNBH DK HRVIC ;D DK UI;DCIS HG ^RD EGK;BEBGKL HI TBDbI DK ERIKFG I UGWBUBDKFGS;DFIHHD Q D<FIFB<UG=

';DU\< FGUICGK HI< aB<FGCBI< YMYHBEI< ^RD TCD;BEIYIK HG< <IEDC;GFD<S TICI CDBKWDKXFIC HI BUIVBKDCMI ECB<FBIKI ITGCF\K;GHD< UIFBED< GCBDKFIHD<S <RCVBDK;G I<M RKI< BU\VDXKD< ;D WMCVDKD< TICDEB;I< I HI< ;DB;I;D< NDUDKBKI< ;D oRIK 1B D BKEHR<G HI BUIVDK;DH -RDK 3I<FGC EGUG HI CDTCD<DKFIEBLK ;D HI TCBUDCI UD;BFIEBLK ;D -R;I=

*H UICNBH HHDVL I 2BHBTBKI< NRK;IUDKFIHUDKFD ;D<;D 4NCBEI D "K;BIS NRK;IUDKFIHXUDKFD= +G< VIHDGKD< ;D .IKBHI FCIK<TGCFIYIK HG< EGHUBHHG< ;D DHDNIKFD I 'EITRHEGSBKFCG;REBDK;G I<M D<FD UIFDCBIH I HG< D<ERHFGCD< IUDCBEIKG<S DK RK UGUDKFG DK DH ^RDBKEHR<G DH UB<UG <D DcFDK;DC\ TGC eITLK TICI HI CDIHBbIEBLK ;DH KDF<RnDS D<TDEBD ;DFGTD ^RD <D RFBHBbI IFI;G I RK EGC;LK TICI <R<TDK;DC ;D HI EBKFRCI FG;G FBTG ;DTD^RDdG< GYZDFG< FIHD< EGUG HI YGH<I ;D UGKD;I<S HI TBTI ;D NRUICS DFE=

!IQ ̂ RD IEHICIC ̂ RD NRDCGK HG< EaBKG< HG< ^RD BKBEBICGK HI TCG;REEBLK ;D BU\VDKD< EGKBEGKGVCINMI ECB<FBIKI I UD;BI;G< ;DH <BVHG ̀ O" TICI HG< TGCFRVRD<D< DK .IEIG G 0IKFLK=0RIK;G HG< D<TIdGHD< DK fAiA HHDVICGK I 2BHBTBKI< EGUDKbICGK I EGUDCEBIC EGK HG< UDCXEI;DCD< EaBKG< ;D HI< EG<FI< ;D 2RZBIKS UG<FC\K;GHD< TICI CDIHBbIC HI< FIHHI< VCIYI;G<



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?if

.',"+'= ",$&'.8&%#= "7+*#"' )* #', '78#$6,= &*$'-+% 3'&' +'0'3"++' )*+ +*7'93"=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?i?

DRCGTDG<S ;D FIH NGCUI ̂ RD HG< TCBUDCG< UICNBHD< TCGED;MIK ;BCDEFIUDKFD ;D 0aBKI aI<FI^RD TCGKFG <D NGCUL HI EGHGKBI EaBKI ;D .IKBHIS HG< EGKGEB;G< EGUG <IKVHDQD<S ^RDBKBEBICGK HI TCG;REEBLK ;D GYZDFG< DK UIKG< EaBKI< TDCG DK <RDHG NBHBTBKG=

+I CDIHBbIEBLK ;D D<FI< D<ERHFRCI< ;D UICNBH TGC TICFD ;D HG< <IKVHDQD<S HD< ;IYI ID<FI< <BKVRHICD< TBDbI< RK TICFBERHIC I<TDEFG GCBDKFIHBbIKFDS KGCUIHUDKFD FCI;REB;GDK HG< GZG< IEaBKI;G< ;D VCRD<G< T\CTI;G< <RTDCBGCD<S KICBED< IEaIFI;I< DK DH DcFCDXUG DK ;G< VCRD<I< IHDFI<S TD^RDdG< THBDVRD< DK DH ERDHHG Q HG< TBD< U\< CDEaGKEaG<SI HI TIC ^RD HI ITICBEBLK ;D KRYD< WGHRTFRG<I< Q CD;GK;DI;I< DK HI< TDIKI<S RKIBKNHRDKEBI ^RD <D ITCDEBI <GYCD FG;G DK HI< GYCI< ;DH <BVHG Ò" Q TCBKEBTBG< ;DH Ò""=

.\< IWIKbI;I< ECGKGHLVBEIUDKFDS DK HG< <BVHG< Ò"" Q TCBUDCI UBFI; ;DH Ò"""SITICDEDK TBDbI< EGK CI<VG< GEEB;DKFIHBbIKFD< ^RD <D ITCDEBIK DK DH DcED<BWG UGWBXUBDKFG ;D <R< WD<FB;RCI<S HI< NG<I< KI<IHD< TDCNBHI;I<S ;D<ITICDEDK HG< GZG< FIK CI<VIX;G< Q ITICDEDK EGK UIQGC TGHBECGUMI=

' NBKIHD< ;DH <BVHG Ò""" Q ;RCIKFD DH <BVHG `"`S <D EGUBDKbIK I <RTDCTGKDC DHDXUDKFG< EGUG HI< TDHREI<S GZG< ;D ECB<FIHS YGC;I;G<S DcED<BWI EGHGCIEBLK ;D HG< HIYBG<DK EGHGC EICUMKS DFEl TICI ;ICHD RKI UIQGC <DK<IEBLK ;D WB;IS I HG ^RD <D <RUI DHaDEaG ;D ^RD IRUDKFD DH FIUIdG ;D HI< D<ERHFRCI<=

2BKIHUDKFD FIUYB_K <D ITCDEBI HI BKNHRDKEBI ;D HI D<ERHFRCI IK;IHRbIS EDKFCI;ITCBKEBTIHUDKFD DK HI GYCI ;D eRIK .ICFMKDb .GKFId_<S ^RD TI<L I ,RDWI *<TIdI Q;D IaM I 2BHBTBKI<S ;GK;D DKEGKFCICDUG< BU\VDKD< ;D ,BdG< eD<k< <GCTCDK;DKFDUDKFDTICDEB;G< I HG< ;D D<FD D<ERHFGCS TCBKEBTIHUDKFD ;DH ^RD <D EGK<DCWI DK DH #IVCICBG ;DHI 0IFD;CIH ;D #DWBHHI=

+I FDU\FBEI ^RD <D CDTCD<DKFI DK D<FI< TBDbI< ;D UICNBH aB<TIKGNBHBTBKI<S D<F\ MKFBXUIUDKFD CDHIEBGKI;I EGK HI BEGKGVCINMI ECB<FBIKI= *H ECREBNBEI;G D< DH TCBKEBTIH ;DDHHG<S QI ^RD D< DH DZD ;D HI ND EIFLHBEI= .REaG< ITICDEDK DK DH UGUDKFG ;D HI*cTBCIEBLKS EGK HG< YCIbG< DcFDK;B;G< DK aGCBbGKFIH <GYCD HI ECRb Q ERYBDCFG< TGC RKTIdG ;D TRCDbI ^RD G YBDK <D <RZDFI EGK RK THBDVRD CDUDFB;G DK UD;BG ;D HI EBKFRCIG <D CDIHBbIK EGUG RKI D<TDEBD ;D ;DHIKFIH <RZDFG TGC ;G< UGdI< I HG< HI;G<= #R<UG;DHG< TR;BDCGK <DC HG< VCIYI;G< NHIUDKEG< ;D .ICFMK ;D OG<=

*H UG;DHG ;D HG< 0CB<FG< .GCBYRK;G<S FIUYB_K URQ IYRK;IKFD< DK HI DYGCICBI NBHBTBKISaIYBFRIHUDKFD <GK ;D FIHHI NBKI Q ;DHBEI;IS EGK HI EIYDbI YIZI Q <BK EGCGKI ;D D<TBKI<SUG<FCIK;G RKI NB<GKGUMI U\< ;DHVI;I ^RD HG< DcTBCIKFD< Q RK ;D<KR;G U\< FDKRD= #RTIdG ;D TRCDbI ;BNBDCD <DVkK DH DZDUTHICS TDCG aIYBFRIHUDKFD TCD<DKFIK HI EH\<BEI ;DEGCIXEBLK EGK EGHGC ;GCI;G EGYCBbG= *K IHVRKG< EI<G< HI< ECRED< <D ;DEGCIK EGK DKEGKEaI;G<G UDZGC ;BEaG EGK DH UInBD ZITGK_<S ̂ RD D< ;D ;GK;D <D TBDK<IK WBDKDK D<FI< ECRED< ̂ RD^RBb\< NRDCIK CDIHBbI;I< TGC ZITGKD<D< I<DKFI;G< DK 2BHBTBKI<=

8KI ;D HI< UIKBND<FIEBGKD< ;D 0CB<FG< U\< TGTRHICD< NRDCGK HI< WBCBKI<S TIHIYCITCGED;DKFD ;DH F_CUBKG D<TIdGH WBFCBKIS CDIHBbI;I< EGK NBVRCI< URQ ;DHVI;I<S EGKTDHREI< Q ;DU\< GCKIUDKFG<S UDFB;G< ;DKFCG ;D RK CDEBTBDKFD ;D ECB<FIH=

*H ICFD NBHBTBKG CDTR;BI HG <IKVCBDKFG Q HI WBGHDKEBIS DWBFIK;G TGC DZDUTHG KRUDCGX<I< CDTCD<DKFIEBGKD< ;D 0IHWICBG<S Q <B <D CDTCD<DKFIK HG aIEDK <GHG EGK 0CB<FGS HIOBCVDK Q #IK eRIK= *K EIUYBG HI< NBVRCI< UICBIKI< DK UICNBH EGK<FBFRQDK RKG ;D HG<ITICFI;G< U\< BKFDCD<IKFD< ;D HI aB<FGCBI ;DH ICFD NBHBTBKG= 'TICDEDK ;B<FBKFI< I;WGEIXEBGKD<S ;D<FIEIK;G VDKDCIHUDKFD HI ;D HI OBCVDK EGK DH ,BdG G HI "KUIERHI;IS DK HI<^RD <GYCD<IHD HI TGHBECGUMI ;D <R< UIKFG<=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?ip

&%#$&% )* 0&"#$% *`3"&',$* = .8#*% )* +' 8,"O*&#")') )*#',$% $%.4#S .',"+'=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?ih

*K VDKDCIH FG;I< HI< BU\VDKD< UICBIKI< TCD<DKFIK DH DKFIHHD ^RD CDEGVD aIEBI HID<TIH;I HG< WRDHG< ;DH UIKFG TGC ;DFC\<S ERQI BKFDCTCDFIEBLK U\< G UDKG< D<^RDU\XFBEI ;DTDK;D ;D HI ECGKGHGVMI DK HI ^RD <D ;GERUDKFD HI TBDbI= *H FBTG BEGKGVC\NBEGUICBIKG U\< BKFDCD<IKFD D< ;DH <BVHG Ò"""5 <GK OMCVDKD< ERYBDCFI< TGC RK EGCFG WDHG<DTICI;G ;DH CG<FCG aIEBI IFC\<S ERQG< UIKFG< <D DKCGHHIK I <R< ERDCTG< ;D NGCUIIKVRHG<I Q ERYCDK <R <RTDCNBEBD ;D UGFBWG< NHGCIHD<=

+I CDTCD<DKFIEBLK ;DH ,BdG eD<k< FBDKD DK VDKDCIH EIC\EFDC ;DWGEBGKIH ;DYB;G I HID<EI<Db ;D KGFBEBI< DWIKV_HBEI< <GYCD HI BKNIKEBI ;D 0CB<FG= 2RD RK FDUI URQ ^RDCB;GDK DH YICCGEG ^RD WBG DK HI KBdDb ;D<WIHB;I ;DH #IHWI;GC RKG ;D HG< UGFBWG< ;DUD;BFIEBLKS NCDERDKFD DK HI UDKFIHB;I; EGKFCICCDNGCUB<FI=

*H ,BdG DK TBD EGUG #IHWI;GC ;DH .RK;G ^RBb\ FRWG <R GCBVDK DK HI ;DWGEBLK IH,BdG ;D 0DYkS TDCG DK <R DWGHREBLK TG<FDCBGC TCD<DKFI RKI EHICI BKNHRDKEBI ;DH ,BdG;DH #IVCICBG UGKFIdD<BKGS ;DH ^RD HHDVI RKI EGTBI I $DCKIFDS DK 2BHBTBKI<S ;D<;D'EITRHEG DK fiip=

+I BKFDCTCDFIEBLK ;DH ,BdG eD<k< ;GCUB;G G ;D ERKIS ;D<KR;G G WD<FB;GS EGK HG<GZG< IYBDCFG< G EDCCI;G<S VDKDCIHUDKFD <BK TDHG Q CGHHBbG<S NRD U\< EGUkK DK DH \CDITGCFRVRD<I Q <R BKNHRDKEBI HHDVL I 2BHBTBKI< I ERQG ICFD EGCCD<TGK;DK TBDbI< ;DDcFCIGC;BKICBI YDHHDbI DKEGKFCI;I< DK *<TIdI=

#BK ;R;I DH <IKFG ^RD ITICDED EGK UIQGC _KNI<B< D< #IK .BVRDHS IH <DC <MUYGHG ;DHFCBRKNG ;D HI "VHD<BI <GYCD HI aDCDZMI= eRKFG I _H ;D<FIEI #IK #DYI<FB\K EGUG <IKFG<IKI;GC EGKFCI HI TD<FDS HG ^RD TCGTBEBL ^RD ITICDEBDCI DK HI DYGCICBI NBHBTBKIS #IKeRIK *WIKVDHB<FI EGK <R FCI;BEBGKIH BEGKGVCINMI FGUI;I ;D UG;DHG< DRCGTDG< EGK RKWD<FB;G ;D TBDHD< Q RK EGC;DCG I <R< TBD<= "KEHR<G #IKFBIVG .IFIUGCG<S VGbL ;D RKIVCIK WDKDCIEBLK DK 2BHBTBKI<S TRD< <BUYGHBbIYI HI TCGFDEEBLK EGKFCI HG< TBCIFI< UR<RHXUIKD< ^RD <BDUTCD IUDKIbIYIK I HG< ECB<FBIKG<=

$IUYB_K <GK URQ EGURKD< HI< CDTCD<DKFIEBGKD< ;D HG< <IKFG< ;D HI< ;B<FBKFI< LC;DKD<CDHBVBG<I< ̂ RD <D I<BDKFIK DK 2BHBTBKI<S <BDK;G BKKRUDCIYHD< HI< ;D #IK 2CIKEB<EGS #IKFG)GUBKVGS #IK "VKIEBG ;D 'KFBG^RBIS DFE= #GK URQ YDHHI< BVRIHUDKFD HI< CDTCD<DKFIEBGKD<;D #IKFI &G<I ;D +BUIS EGK a\YBFG ;D ;GUBKBEI Q EGCGKI ;D D<TBKI<=

+I D<ERHFRCI aB<TIKGNBHBTBKI KG ;GUBKI DH ICFD ;D HI EGUTG<BEBLK TGC HG ^RD D< CICGDKEGKFCIC VCRTG< ;D NBVRCI< DcDKFI< IKFD< ;D NBKIHD< ;DH Ò"" Q Ò"""S ERIK;G <DGEEB;DKFIHBbI HI DYGCICBI NBHBTBKIS ITICDEBDK;G EGKZRKFG< ;D #IVCI;I< 2IUBHBI< Q IHVRXKG< YDHDKD<= %FCI< GYCI< ;D VCIK BKFDC_< <GK HG< FCMTFBEG< G IHFICEBHHG< EGK CDHBDWD< DKHG< ^RD <D URD<FCIK HG< FDUI< U\< EGUTHDZG< DK HI BKFDCTCDFIEBLK ;GEFCBKIH Q DK HIEGK<DEREBLK ;D <R< EGUTG<BEBGKD<= *<FG< FDUI< IYICEIK ;D<;D HG< DWIKV_HBEG< EGUGDH ,IEBUBDKFG Q GFCG<S aI<FI DH eRBEBG 2BKIHS TI<IK;G TGC HG< ;D EGKFDKB;G FDGHLVBEGEGUG HI $CBKB;I; G DH ;D -ICEI ;D HI "VHD<BI=

*K D<FI FBTGHGVMI ;D FIHHI< aIQ ^RD ;D<FIEIC HI< D<ERHFRCI< ^RD HHDWIK UICNBH DK <REGUTG<BEBLK TDCG <GHG DK IHVRKI< bGKI<S TGC RK HI;G <D DUTHDI HI UI;DCI EGK CG<XFCG<S UIKG< Q TBD< ;D UICNBH Q TGC GFCG HI< BU\VDKD< ;D WD<FBCS I<TDEFG ^RD QI aDUG<EGUDKFI;G DK DH ITICFI;G ;D HI D<ERHFRCI DK UI;DCI=

*K HI< BU\VDKD< ;D WD<FBCS ^RD TCDEB<IUDKFD NRDCGK HI< TCBUDCI< ^RD <D CDIHBbICGKDK 2BHBTBKI<S ;D<FIEI HI OBCVDK ;DH &G<ICBG ;D HG< ;GUBKBEG< ;D .IKBHI= +I F_EKBEI;DYBL EGKFBKRIC HBUBFI;I I HI GYFDKEBLK ;D NBVRCI< TCGED<BGKIHD<S EGUG D< DH EI<G ;DRK KIbICDKG ^RD <D DKERDKFCI DK DH .R<D_ ;D HI 3BEIC;BD DK 'UBDK< :2CIKEBI>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?ii

8K kHFBUG EITMFRHG ^RD TG;CMIUG< BKEHRBC ;DKFCG ;D D<FD ITICFI;G HG EGK<FBFRQDKHG< CDHBDWD< ;D BKFDCBGCD< Q DK NIEaI;I<S EGK NBVRCI< ;D <IKFG<S ECB<FG<S KBdG< eD<k<SWMCVDKD< Q D<EDKI< ;D HG< DWIKVDHBG< Q ;D HI FCI;BEBLK EIFLHBEI= )D<FIEICGK EGUGEGUTHDUDKFG I HG< CDFIYHG< BKFDCBGCD< Q DK UREaG< EI<G< <BCWBDCGK TICI DcTHBEIC EI;IRKI ;D HI< DFITI< ;DH OMI 0CREB<= &DIHBbI;G< DK TBD;CIS FIUTGEG <GK DcFCIdG< HG< ;DUIFDCBIH EGCIHBKG G WGHE\KBEGS EGUG DcTGKDKFD< EHICG< ;D HI< FCI;BEBGKD< HGEIHD<=

.',%#=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?is

h= '&$*# ",)8#$&"'+*#

,G ;DYDUG< GHWB;IC HI TCD<DKEBI ;D HI< ICFD< UDKGCD< DK IH ICFD NBHBTBKGS QI ^RDD<FI< DWB;DKEBIK GFCG \UYBFG ;D HI DWIKVDHBbIEBLK ;D RK FDCCBFGCBG I FCIW_< ;DH ICFDSUD;BIKFD FDCKG<S E\HBED<S Q DK ;DNBKBFBWI FG;G HG ^RD HG< UB<BGKDCG< D<TIdGHD< KDED<BXFIYIK TICI EIFD^RBbIC I HG< BK;MVDKI<=

h=f= -GC;I;G<

*H EGKFBKDKFD I<B\FBEG KG <LHG NIYCBEIYI DcEDHDKFD< <D;I<S <BKG ^RD I;DU\< HI<I;GCKIYI EGK RKI VCIK ;BWDC<B;I; ;D YGC;I;G<S TCGTBG< ;D HI< TCDK;I< ;D DcTGCFIXEBLKS TRD<FG ^RD TICI HI TGYHIEBLK EaBKIS DCI BUTDK<IYHD I;GCKIC<D EGK <D;I< FIKEGHGCB<FI< Q HHIUIFBWI<=

*K RK TCBUDC UGUDKFG D<FG< EGUTHDUDKFG< <D NIYCBEIK DK 0IKFLKS TCD;GUBKIK;GHI <D;I YGC;I;I Q HI< TBDbI< ;D WD<FB;G< YGC;I;G<= *<FI< <D FCIK<TGCFIYIK I .IKBHIS;D<;D ;GK;D <D DcFDK;MIK IH EGKFBKDKFD IUDCBEIKG Q I HI UDFCLTGHB= 0GK DH FBDUTG HG<EGUDCEBIKFD< EaBKG< <D D<FIYHDEBDCGK DK #IK 2DCKIK;G :2BHBTBKI<>S ;D<;D ;GK;D <DEDKFCIHBbL DH UDCEI;G ;D HI <D;I YGC;I;I aIEBI %EEB;DKFD=

,G DK WIKG CDIHBbIK DKEICVG< HG< KRUDCG<G< UB<BGKDCG< D<TIdGHD< ^RD D<F\K RYBXEI;G< DK 2BHBTBKI<S ;IK;G HRVIC I HI ITICBEBLK ;D EI<RHHI<S ;IHU\FBEI<S EITI< THRWBIHD<SDFE=S YGC;I;I< EGK D<ER;G< ;D HI< ;BNDCDKFD< LC;DKD< CDHBVBG<I<= +G< YGC;I;GCD< EaBXKG< KG TR;BDCGK IYICEIC FG;I HI TCG;REEBLK TGC HG ^RD D< URQ TCGYIYHD ^RD DK<DdIXCIK HI F_EKBEI I HG< NBHBTBKG<S ^RD EGK DH FBDUTG CDIHBbICMIK RK YGC;I;G U\< VCRD<GSWGHRUBKG<G Q FG<EG EICIEFDCM<FBEG Q CD<RHFI;G ;DH EIUYBG ;D HG< aBHG< TICI YGC;IC HI<<D;I<= *K HI IEFRIHB;I; HG< <BVRDK CDIHBbIK;G HI< DcTDCBUDKFI;I< UIKG< ;D HI< YGC;IX;GCI< NBHBTBKI<=

+G< DZDUTHG< U\< <BVKBNBEIFBWG< ;D HI< TCG;REEBGKD< YGC;I;I< DK <D;I WIK I <DCNRK;IUDKFIHUDKFD HG< GCKIUDKFG< HBFkCVBEG< WBKERHI;G< I HI ;GEFCBKI ECB<FBIKI Q HG<UIKFGKD< HHIUI;G< ;D .IKBHIS <BK ;R;I EGK UIFBED< U\< TGTRHICD<=

h=?= %CNDYCDCMI

3GC HG ^RD CD<TDEFI I HI GCNDYCDCMI D< RK EIUTG IkK ;D<EGKGEB;G ;DH ICFD NBHBTBKGKG <LHG TGC HI ;BNBERHFI; DK <R HGEIHBbIEBLK Q ;GERUDKFIEBLKS <BKG I;DU\< TGC HI<BUBHBFR; D<FBHM<FBEI EGK TBDbI< KGWGaB<TIKI<=

+I< UMKBUI< CDNDCDKEBI< I RK VCDUBG ;D THIFDCG< DK 2BHBTBKI< KG< TCGWGEIYIK BKFDCCGXVIKFD< <GYCD HG< ICFD<IKG< Q DH GCBVDK ;D HI< TBDbI<S IRK^RD DcB<FDK ;GERUDKFG< CDWDHI;GXCD< EGK CD<TDEFG I D<FD FDUIS EGUG DH "KNGCUD IEDCEI ;D HI EGKWDKBDKEBI G KG ;D HI DcTRH<BLK ;D HG< <IKVHDQD< EaBKG<S ^RD CD<B;DK DK 2BHBTBKI<S CD;IEFI;G DH ?@ ;D ZRKBG ;Dfij? DK .IKBHIS DK DH ̂ RD <D EGUDKFI HG <BVRBDKFD5[:===> $G;G HG ̂ RD FCIYIZIK D< EGUDK;IX ;G Q DKFCDV\K;GHD< TGC ;DHIKFD HI THIFIS KG TGC ERDKFI <BKG TD<I;IS Q HI< GYCI< ̂ RD aIbDK :DcEDTFG 3aBHBVCIKI<> ;DUI< ;D <DC FG<^RM<BUI<= *KFCD HG< BK;BG< IQ URB YRDKG< 3HIFDCG< •=== IHI 3aBHBVCIKI HI aIbDK U\< ;DHBEI;I TCBUGCG<I Q NBCUD]=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?ij

$*&,% +"$r&7"0% 2"+"3",%=

$'0+%-%=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?ig

*< DWB;DKFD TGC FIKFG ^RD IRK^RD HG< <IKVHDQD< BKBEBICGK D<FD GNBEBG NRDCGK HG<NBHBTBKG< KIFBWG< HG ^RD HGVCICGK RKI UIQGC TDCNDEEBLK DK F_EKBEI< EGUG HI ;D HINBHBVCIKI=

2BKIHUDKFD aDUG< ;D <DdIHIC HI TCD<DKEBI ;D RKI< ERCBG<I< IHUDZI< VBVIKFD< ^RDIRK^RD DK 2BHBTBKI< KG FDKMIK RKI NRKEBGKIHB;I; D<F_FBEI I <R HHDVI;I I *<TIdI <DEGKWBCFBDCGK DK GYZDFG< TCD<DKFD< DK HI HBFRCVBI ECB<FBIKI= *<FG< FIEHGYG< EGUG <D HD<EGKGED DK 2BHBTBKI<S <D RFBHBbIK I^RM EGUG TBHI< ;D IVRI YDK;BFIS Q <D DKERDKFCIK DKHI IEFRIHB;I; CDTICFB;I< TGC ;BWDC<I< BVHD<BI< ;D *<TIdIS EGUG DK DH #IKFRICBG ;D HIOBCVDK ;D HI .GKFIdI DK 0\EDCD<S DK HI 3ICCG^RBI ;D #IK OBEDKFD .\CFBC DK OBFGCBISDK ,RD<FCI #DdGCI ;D 7CIEBI DK 7CIKI;IS #IKFI .ICMI ;D 0ICUGKI Q #IKFI 0CRb ;D/EBZI DKFCD GFCI<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?s@

#*+*00"J, )* ".47*,*#

['#3*0$% #".-J+"0% )*+ .8,)% !"#34,"0%] :7&'-')%S #"7+% ̀ O"""=>=0*,$&% 7*%7&42"0% )*+ *e*&0"$%S .')&")

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?sf

+I BUTGCFIKEBI ;D HI BUIVDK DK DH ;D<ICCGHHG ;DH ICEaBTB_HIVG <D ITCDEBI DK HG<IYRK;IKFD< VCIYI;G< ^RD CDIHBbICGK ICFB<FI< NBHBTBKG< EGUG _<FD ^RD <D CDIHBbL TICIBHR<FCIC DH BUTCD<G ;D fsif GYCI ;D OBEDKFD .DUBZD=

+IRCDIKG 'FHI< CDIHBbI DH VCIYI;G FBFRHI;G '<TDEFG <BUYLHBEG ;DH .RK;G !B<T\X KBEG S DH ERIH EGUDKFI )w +GRC;D< )MIb $CDEaRDHG DK <R ICFMERHG 7CIYI;GCD< NBHBTBKG< ;DH <BVHG Ò""" 5 [===RKI UIFCGKI EGCGKI;IS CDTCD<DKFI I *<TIdIS <GYCD DHHI< DH *<TMXCBFR #IKFG DK NGCUI ;D TIHGUIS Q ;G< \KVDHD< ^RD <G<FBDKDK RKI IHDVGCMI DREICM<FBXEI= +G< TBD< ;D HI NBVRCI <D I<BDKFIK <GYCD DH 'CEaBTB_HIVG 2BHBTBKG Q HI HMKDI DERIFGCBIHVCI;RI;IS <BCWD ;D I<FI I RKI YIK;DCI ^RD HHDWI DK <R UIKG Bb^RBDC;IS DK DHHI <DTHI<UI DH D<ER;G CDIH DKFCD HI< ;G< EGHRUKI< ;DH [3HR< 8HFCI] ^RD <D CDTBFDK DKUIQGC FIUIdG I IUYG< HI;G< ;DH UITIS <GK <IHGULKBEI< Q D<F\K I;GCKI;I< EGKEGCGKI< Q ;D NR<FD D<FCBI;G DK DH FDCEBG BKNDCBGC= #GYCD DH %E_IKG 3IEMNBEG <D UICEIKHG< ;DCCGFDCG< <DVRB;G< TGC HG< VIHDGKD<S ^RD DH ICFB<FI aI ITCGWDEaI;G TICI ;DHBXKDIC HG< THBDVRD< ;DH WD<FB;G ;D HI URZDCS YI<FIKFD CMVB;G< Q NGCbI;G< TGC D<FDUGFBWG= 'TICDED DH ;DCCGFDCG ;D<;D 2BHBTBKI< TICI 0IHBNGCKBI Q HI ,RDWI *<TIdI;D<;D DH UD< ;D eRKBG IH UD< ;D *KDCG= $IUYB_K DH ^RD <DVRMIK HG< VIHDGKD< DK <RCDFGCKG I 2BHBTBKI<S bICTIK;G ;D 'EITRHEG DK UICbG TICI DKFCIC DK 0IWBFD DK ZRKBGG ZRHBG= 3GC ;DYIZG ;DH DcFCDUG UDCB;BGKIH ;D 'U_CBEIS RKI UIKG <DdIHI HG< [;DCCGXFDCG< ^RD <D TRD;DK <DVRBC TGC DH 0IYG ;D !GCKG< TICI DH &DQKG ;DH 'R<FCG Q3aBHBTBKI< Q <D UICEIK HI< FBDCCI< ;D<ERYBDCFI< TGC 2DCKIK;G 7IHHDVG DK fAsi= +IHDQDK;I [TICIVD< BKELVKBFG< ;DH &DQKG ;DH 'R<FCG] <D CDTBFD WICBI< WDED< <GYCD HIbGKI UDCB;BGKIH ;DH %E_IKG]f=

#', e8', -'8$"#$' :#"7+% Ò""">= .8#*% %&"*,$'+ )* +%# 3')&*#'78#$",%#S O'++')%+")

)DKFCG ;D HG< D<FBHG< DK HG< ^RD <D <RDHD ;BWB;BC HI TCG;REEBLK ;D <IKFG< NBHBTBKG<SD<F\ DH TGTRHICS EGKNGCUI;G TGC FG;I I^RDHHI TCG;REEBLK ;D ICFB<FI< KG TCGND<BGKIHD<^RD I;^RBDCD HI EIFDVGCMI ;D BKNGCUIHS TGC ERIKFG TCD<DKFIK RKI< CDVHI< EGUTG<BFBWI<DK HI< ^RD ;GUBKIK HI I<BUDFCMIS EBDCFG< IKIECGKB<UG< ^RD YR<EIK IKFD FG;G aIEDCCDEGKGEBYHD I HI BUIVDK Q RKI EHICI FDK;DKEBI I HI ;D<TCGTGCEBLK ;D HG< ERDCTG<=

#IK eRIK -IRFB<FI <D CDTCD<DKFI EGK DH EIYDHHG TDBKI;G aIEBI IFC\<S YICYI Q YBVGFDSQ EGK RKI FGKIHB;I; ;D TBDH ^RD KG< aIYHI ;D HI I<BUBHIEBLK TGC TICFD ;D HI TGYHIEBLKNBHBTBKI ;D D<FD <IKFG EGUG RKG U\< ;D <R CIbI=

+I WD<FBUDKFI KG< URD<FCI D<G< IKIECGKB<UG< TCGTBG< ;DH D<FBHG TGTRHICS QI ^RDKG FCI<EBDK;D KI;I ;D HI TDC<GKIHB;I; ;DH TDC<GKIZD= /<FD ITICDED EGK RK WD<FB;GEDdB;G TGC RK EBKFRCLK Q RKI FkKBEI CGZI ^RD <RZDFI I _<FD ^RD EID ;D<;D DH aGUYCD;DCDEaGS <RZDF\K;GHI EGK DH YCIbG=

f= )6'9 $&*0!8*+% #36,%+'S .w +GRC;D<= [7CIYI;GCD< NBHBTBKG< ;DH <BVHG Ò"""]S DK'KRICBG ;D D<FR;BG< 'UDCBEIKG<= $GUG `"`= #DWBHHIS *<ERDHI ;D *<FR;BG< !B<TIKGIUDCBEIKG<Sfgi?S 3\V<= ?gsX?gj=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?s?

+I IEFBFR; NCGKFIH Q NCMI ;D HINBVRCI KG< aIED TDK<IC ^RD D<FRXWBDCI TDK<I;I TICI TCD<B;BC IHVkKD<TIEBGS TCD<DKFIK;G HG< YCIbG<;GYHI;G<S DK HG< ^RD HI NIHFI ;DUIKG< KG< aIED TDK<IC ^RD TG<BXYHDUDKFD <G<FRWBDCI DK RKI ;D DHHI<IH EGC;DCG Q DK HI GFCI HI WICI EGKDH D<FIK;ICFDS HG< <MUYGHG< ^RD <M HG aICMIK U\< CDEGKGEBYHD=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?sp

0&80"2"0')% :#"7+% `O"">= .8#*% )"%0*#',% )* +' 0'$*)&'+S3'.3+%,'

*<FD DZDUTHIC TCGED;DKFD ;D HI "VHD<BI ;D *bTDCRK CDTCD<DKFI IH UG;DHG ;D HG<ECREBNBEI;G< ;DH <BVHG `O"" aB<TIKGNBHBTBKG<= 3GC RK HI;G D< RK 0CB<FG ;D FIUIdG

CD;REB;GS VCIK ERCWIFRCI TGC DH EGHUBHHG DUTHDI;G Q CI<VG< UICEI;IUDKFD GCBDKFIHD<SITCDEBI;G< DK DH FIUIdG ;D HG< T\CTI;G< HBVDCIUDKFD CI<VI;G<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?sh

'RK^RD <D TRD;D ITCDEBIC HI ;B<TG<BEBLK ;D HI EGCGKI ;D D<TBKI<S KG D< IHVG FIKaIYBFRIH DK D<FD FBTG ;D UGCBYRK;G<S DH EIYDHHG <D DKERDKFCI IKBHHI;G EGK YICYID<TD<I Q UDEaGKD< FCI< HI< GCDZI<= *H FCIFIUBDKFG ;D HI IKIFGUMI <BKVRHICBbI I D<FG<DZDUTHICD< ;DH `O""S TGC DH ;DFIHHI;G D<FR;BG IKIFLUBEG ;DH ^RD <D TRD;D ;D<FIEIC HIIEDKFRIEBLK ;D HI< WDKI< ;D HG< YCIbG< Q HI< EG<FBHHI<S FG;G ;DKFCG ;D HI FDK;DKEBI IHGVCIC RK EHICG KIFRCIHB<UG DK HI< CDTCD<DKFIEBGKD< ;D D<FI DFITI= #MKFGUI ;D DHHGTRD;D <DC DH ;DFIHHD ;D CDTCD<DKFIC TGC HI BKVHD DH TIdG ;D TRCDbI EGK RKI IYDCFRCI DKDH HI;G ;DCDEaG ^RD ;DZI WDC TICFD ;DH UR<HGS I;DU\< HI ;B<TG<BEBLK ;D D<FI TBDCKI<GYCD HI GFCI FIUYB_K TCD;GUBKI DK HI DYGCICBI ;DH <DFDEBDKFG<=

#', #*-'#$"4, :#"7+% `O"">= .8#*% )* #',$' .'&6' )* .*)"'O"++'S.*)",' )* &"%#*0%S O'++')%+")

3CGED;DKFD ;D HI "VHD<BI ;D #IKFI 0CRb DK .D;BKI ;D &BG<DEGS NRD HDVI;I D<FIGYCI ZRKFG EGK GFCG DcEDHDKFD EGKZRKFG ;D TBDbI< TGC DH ICbGYB<TG ;D #DWBHHIS 'KFGXKBG 3IBKGS KIFRCIH ;D D<FD HRVIC= #R ;GFIEBLK ;D GYCI< ;D ICFD Q DEGKLUBEI TICI D<FIBVHD<BI KG <D IEGUTIdL ;D HI< HLVBEI< ;B<TG<BEBGKD< FD<FIUDKFICBI< TICI <R DKFBDCCG DKD<FI WBHHI I EIR<I ;D <R URDCFD CDTDKFBKI=

#D URD<FCI <DVkK HI BEGKGVCINMI EH\<BEI ;D <R TCBUDC UICFBCBGS <BDK;G I<IDFDI;G DKRK \CYGH= '^RM <D CDTCD<DKFI ;D TBD Q <DUB;D<KR;GS EGK HI BKFDKEBLK ;D aIEDC RKD<FR;BG IKIFLUBEGS ERYBDCFG FIK <GHG EGK RK TIdG IKR;I;G Q THDVI;G ^RD ERYCD HIEI;DCI= +I WDCFBEIHB;I; TCBUI DK D<FI EGUTG<BEBLKS IEDKFRI;I TGC HI< TBDCKI< DKFCDXIYBDCFI< Q DH YCIbG ;DCDEaG aIEBI ICCBYI=

#R CG<FCG D< DH DHDUDKFG U\< DcTCD<BWG ;D HI BUIVDKS EGK HI UBCI;I TDC;B;I aIEBIDH EBDHG DK RK UGUDKFG ;D ;GHGC Q HI YGEI DKFCDIYBDCFI CD<IHFIK;G DH ;CIUIFB<UG ;D HID<EDKI= +I TGHBECGUMI D< D<EI<I ;D<FIEIK;G DK HI< TRTBHI< ;D HG< GZG<S DH EIYDHHGS HIYGEI Q IHVRKG< YCGFD< ;D <IKVCD ^RD HD UIKIK ;D HI< aDCB;I< ^RD HD TCGWGEICGK DK <RUICFBCBG HI< <IDFI<S Q ;D HI< ERIHD< KG DcB<FD KBKVRKI DK HI IEFRIHB;I;=

+I EIHB;I; ;DH UICNBH ^RD <D RFBHBbL DK D<FI FIHHI D< DcFCDUI TGC DH EGHGC Q YCBHHG ^RD;D<TCDK;DS TCGTGCEBGK\K;GHD I HI NBVRCI RKI FDcFRCI DcFCIGC;BKICBI= *H FCGKEG ;DUI;DCI IH ^RD <D DKERDKFCI IFI;G D< ;D TIHG<IKFG EGK UREaI< CIUBNBEIEBGKD<S UDX;BIKFD <D;IH FCIK<TICDKFDS ;D<FIEI DK DH YGC;D ;D RKI ;D HI< CIUI< RK CDUIFD ;D UDFIHSIHVG ^RD ^RBb\< HHDWIC\K FG;G< HG< DcFCDUG<=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?sA



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?si

0'#8++' :#"7+% `O""">= .8#*% )"%0*#',%S $8)*+'S ,'O'&&'

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?ss

8KG ;D HG< EGKZRKFG< U\< BKFDCD<IKFD< ;D WD<FBUDKFI< HBFkCVBEI< ^RD <D TRD;DKEGKFDUTHIC DK *<TIdI D<F\ DK DH .R<DG )BGED<IKG ;D $R;DHIS DK ,IWICCI= *K <REGHDEEBLK TG;DUG< ITCDEBIC D<FI EI<RHHIS YGC;I;I <BVRBDK;G DH D<^RDUI ;D FCBTHDYIK;I WDCFBEIH Q EGK RK ;D<ICCGHHG TCGNR<G ;D DHDUDKFG< NHGCIHD< ^RD ;D<FIEIK <GYCDXUIKDCI TGC DH ECGUIFB<UG Q FIUIdG DK DH ^RD D<F\K CDIHBbI;G<= +I ;BNDCDKEBI TCBKEBTIHDKFCD DH FDCKG NBHBTBKG Q GFCG< EGKFDUTGC\KDG< ^RD <D EGK<DCWIK DK ,IWICCIS D< <RFBTG ;D YGC;I;G= *H YGC;I;G NBHBTBKG <D EICIEFDCBbI TGC DH WGHRUDK ;D UG;G ^RD HG<UGFBWG< <D ;D<FIEIK ;DH NGK;G TGC HI UI<I ;D aBHG ^RD HG EGKNGCUI= 3DCG I;DU\<CD<RHFI NRK;IUDKFIH ;D<FIEIC DH FCIYIZG ;DH NGK;GS CDIHBbI;G DK aBHG ;D THIFIS ;GK;DTCD;GUBKI DH aGCCGC WIERBS EGK UGFBWG< VDGU_FCBEG< Q CGUYG< ^RD <GYCD<IHDK DKCDHBDWDS ;IK;G I FG;I HI TBDbI RKI EICIEFDCM<FBEG I<TDEFG CRVG<GS ^RD IH D<FIC CDIHBbI;GDK aBHG ;D THIFI GCBVBKI RKI <DCBD ;D ;D<FDHHG<S <GYCD HG< ^RD ;D<FIEIK ;GYHDUDKFD HG<BKFDK<G< EGHGCD< ;D HI NHGCI NBHBTBKI<=

3GC DH D<FBHG ;D <R YGC;I;GS <D EIFIHGVI EGUG GYCI NBHBTBKIS ;IFG ^RD <D EGCCGYGCIEGK HI ;GERUDKFIEBLK ^RD <D EGK<DCWI DK DH ICEaBWG EIFD;CIHBEBGS DK HI ^RD <D UDKXEBGKI ^RD D<FD FDCKG HHDVL I *<TIdI DK <DTFBDUYCD ;D fsjjS DK DH KIWMG ['VRBHI"UTDCBIH] ^RD HG FCIMI ;D<;D .IKBHI Q ;D<DUYICEL DK 0\;Bb= 3ICI EDHDYCIC HI DHDWIXEBLK ;D HI "VHD<BI ;D #IKFI .ICMI ;D $R;DHI I HI ;BVKB;I; ;D EIFD;CIHS RK DUBKDKFDFR;DHIKGS )= 3D;CG ;D HI 7IH\CCIVI Q 0I<FBHHGS UIC^R_< ;D OBHHIUD;BIKIS GNCDEMI IHCDEB_K D<FCDKI;G EIYBH;G=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?sj

O",'e*&'# :#"7+% `O""">= .8#*% )"%0*#',%S $8)*+'S ,'O'&&'

0GUTHDFIYI DH CDVIHG IKFDCBGCUDKFD DcTRD<FG RK EGKZRKFG ;D GCNDYCDCMI EGUTRD<XFG TGC RK E\HBb Q RKI TIFDKI <GYCD;GCI;G<S EREaICBHHIS THIFBHHG Q WBKIZDCI<S RKI EIUTIXKBHHI Q ERIFCG WI<G< TICI HG< <IKFG< LHDG< DK RKI EIZI I TCGTL<BFGS FG;G DHHG CDIHBbI;GDK NBHBVCIKI< ;D THIFI=

+I< WBKIZDCI< ;D D<FD HGFD <GK HI< ^RD TCD<DKFIUG< Q DCIK RFBHBbI;I< DK HI UB<I TICIEGHGEIC DH WBKG Q DH IVRIS IEGUTIdI;G ;D HI YIK;DZI Q HI EIUTIKBHHI= *H EGKZRKFG D<DcFCDUI;IUDKFD ICULKBEGS EGUTRD<FG TGC RKI YIK;DZI GWIHI;I Q TDCNBH GK;RHI;G=+I EIUTIKBHHI D< ;D NGCUI YRHYG<I IH BVRIH ^RD HI< ZICCBFI<= /<FI< <GK ;D FIUIdGCD;REB;G EGK ERDCTG IYRHFI;GS ERDHHG IKEaG Q I<I <DCTDKFBKI= 0GUYBKI RK YIdG ;DTHIFI ;GCI;I EGK HI <RTDCTG<BEBLK ;D RKI UIHHI ;D NBHBVCIKI EGK ;BYRZG CGUYGB;IHEGUTIEFGS ^RD ERYCD EI<B DK <R FGFIHB;I; HI< TBDbI<S I DcEDTEBLK ;DH YGC;D ;D HIYIK;DZIS DH UIKVG ;D HI EIUTIKI Q HI< I<I< ;D HI< ZICCBFI<=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?sg

?= 0GHDEEBLK ;D ;GERUDKFG< BK_;BFG< CDHIFBWG< IH ;D<ERYCBUBDKFGS EGK^RB<FI Q GCVIKBbIEBLK;D HI< 'KFBVRI< TG<D<BGKD< D<TIdGHI< ;D RHFCIUIC= $= KƒpS "" ;D HI< "<HI< 2BHBTBKI<= .I;CB;S *<F=$BTGVC\NBEG [#RED<GCD< ;D &BWI;DKDQCI]S fjjsS 3\V<= ?ssX?sj=

'3/,)"0* )%08.*,$'+

"= :'P% fAiAXfi )* .'1%> $*#$".%,"% )* 0J.% #* !'++J *, +' "#+'"= )* 9"-8 *+ ,"P% )* e*#r#?=

*K HI Q<HI ;D ‡RYR ;D HI NDHBTBKI< ;DH TGQDKFD ;D <R UIV=; I ;BDb D <DQ< ;BI< ;DHUD< ;D UIQG ;D UQHH D ^RBKBDKFG< Q <D<DKFI D EBKEG IdG< DH URQ QHHR<FCD <DdGCUQVRDH HGTDb ;D HDVI<TB VGWDCKI;GC D EITBFIK VDKDCIH TGC <R UIZD<FI; ;D HI VDKFD DICUI;I ;D ;D<ERYCBUBDKFG ;D HI< Q<HI< ;DH TGKQDKFD TGC IKFD UQ NDCKIK;G CCB^RDHD<ECBYIKG ;D VGYDCKIEBLK ;D HI< ;BEaI< Q<HI<S ;BcG ^RD TGC ^RIKFG DH ;BI ^RD HG<D<TIdGHD< DKFCICGK DK D<FI ;BEaI Q<HI D TRDYHG ;D ‡RYR ^RD NRD DH <IYI;G WDQKFD DGEaG ;D IYCBH ;D<FD TCD<DKFD IdG ;D<TR_< ;D IWDC ;D<WICIFI;G HG< KIFRCIHD< ;D D<FDTRDYHG Q ^RD HG ;DcICGK ;D<UIUTICI;G Q ^RD <D NRDCGK aRQDK;G HI FBDCCI I;DKFCGDK RKI ;D HI< EI<I< ;D HI< UI< TGYCD< UG;DCI;I< D RUBH;D< Q TD^RDdI Q ;D TGEGITICIFG ;GK;D DKFCG ZRIK ;D EIURb KIFRCIH ;D YDCUDG UICBKDCG ;D HI KIG EITBFIKIaIHHG DK DHHI RKI QUIVDK ;DH KQdG eD<k< DK <R EIcDFI ;D UI;DCI ;D TBKG Q EGK RKVGCCGK ;D NHRDEG YDHHR;G ;D HIKI EGHGCI;I ;D HG< ^RD aIbDK DK NHIK;D< Q <R EIUQ<BFI;D YGHIKFD Q HG< ;G< ;D;G< ;D HI UIKG ;DCDEaI IH‡I;G< EGUG ^RBDK YDK;BbD Q DK HIGFCI Bb^RBDC;I <R YGHI &D;GK;I <R ECRb Q <R EGHHICBEG ;D D<FIdG ;GCI;G IH ERDHHG HI^RIH ;BEaI EIcRDHI D QUIVDK ;DH KBdG eD<k< D<FI UDFB;I DK GFCI EIcI ;D UI;DCI ;DHI< ;D<FI FBDCCI Q HBI;I EGK RK EGC;DH TGC DKEBUI Q HRDVG ^RD HI GYG aIHHI;G HHDWIK;GXHI DK HI< UIKG< EGK <R EIcDFIx



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?j@

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?jf

0'36$8+% ,%O*,%+' 3",$8&' )* $*.4$"0' !"#$J&"0'

f= ",$&%)800"J,

+I CDTCD<DKFIEBLK ;D D<EDKI< aB<FLCBEI< DK HI TBKFRCI BYDCGIUDCBEIKIS <B YBDK WBWD<R U\cBUG D<THDK;GC DK HI< kHFBUI< ;_EI;I< ;DH `"` Q DK HG< TCBUDCG< IdG< ;DH ``SD< FIUYB_K EICIEFDCM<FBEI <BKVRHIC DK DH ICFD ;DH TDCMG;G WBCCDBKIH= *K ;BEaI _TGEINRDCGK R<RIHD< HI< KICCIEBGKD< TH\<FBEI< ;D <RED<G< WBKERHI;G< IH ;D<ERYCBUBDKFGS HIEGK^RB<FI Q HI DWIKVDHBbIEBLK ;DH EGKFBKDKFD IUDCBEIKGS GYCI< UREaI< ;D DHHI< ^RDBYIK IEGUTIdI;I< ;D <R EGCCD<TGK;BDKFD FDcFG DcTHBEIFGCBG= *K FIH <DKFB;GS aI CD<RHXFI;G EHICBNBEI;GCIS TICI DH EI<G UDcBEIKGS HI TCBUDCI ;D HI< DcTG<BEBGKD< HHDWI;I< IEIYG DK DH .R<DG ,IEBGKIH ;D 'CFD ;D ._cBEG YIZG DH FMFRHG +G< TBKEDHD< ;D HI !B<FGCBI :fggg> DK HI ^RD <D DWB;DKEBIYI HI BUTGCFIKEBI I;^RBCB;I TGC D<FI< FDU\FBEI<DKFCD NBKIHD< ;DH `O"" Q HI TCBUDCI UBFI; ;DH `O"""= *K RKG ;D HG< D<FR;BG< EGKFDKB;G<DK DH EIF\HGVG ;D HI UB<UIS DH aB<FGCBI;GC eIBUD 0RI;CBDHHG <DdIHIYI FCD< NDKLUDKG<aB<FLCBEG< WBKERHI;G< I HI NRK;IEBLK ;DH CDBKG ;D HI ,RDWI *<TIdI ^RD ^RD;ICGKCDNHDZI;G< DK DH ICFD ;D D<D TDCMG;G5 HI EGK^RB<FI UBHBFICS HI DWIKVDHBbIEBLK UDK;BEIKFDQ HI BK<FBFREBGKIHBbIEBLK DEHD<BIHS Q HI EGK<FCREEBLK B;DGHLVBEI ;D <R B;DKFB;I;=

' D<FD TDCBG;G TDCFDKDEDKS DKFCD GFCI< GYCI<S HI< EGKGEB;I< <DCBD< ;D DKEGKEaI;G< SCDIHBbI;I< RFBHBbIK;G EGUG F_EKBEI HI BKECR<FIEBLK ;D EGKEaI< DK DH ERI;CGS ^RD ;IKI HG< UB<UG< RK <BKVRHIC DNDEFG ;D YCBHHG= .BVRDH 7GKb\HDb NRD IRFGC ;D <DCBD< ERQIFDU\FBEI DCI HI EGK^RB<FI ;D ._cBEGS ;D<;D HI HHDVI;I ;D !DCK\K 0GCF_< aI<FI HI EIM;I;D $DKGEaFBFH\KS <BVRBDK;G DK HI KICCIEBLK TH\<FBEI HG< FDcFG< ;D -DCKIH )MIb ;DH0I<FBHHG=

+I TBKFRCI ;D aB<FGCBI FDK;C\S KG GY<FIKFDS <R UGUDKFG ;D UIQGC YCBHHIKFDbS EGUG<D ;BZGS DK DH <BVHG `"`= 3ICI DKFDK;DC <R BUTGCFIKEBI D<F_FBEI Q <GYCD FG;G B;DGHLVBXEIS D< KDED<ICBG I;WDCFBC EBDCFI< EHIWD< ;DFDCUBKIKFD< ^RD ;BDCGK I D<FI< WDCFBDKFD<TBEFLCBEI< RK EIC\EFDC TCGTBG DK HG< TIM<D< IUDCBEIKG<5 HG< NIEFGCD< U\< DWB;DKFD<S Q^RD UICEIC\K HI< TIRFI<S <DC\K DK TCBUDC HRVIC HI "K;DTDK;DKEBI ;D HG< ;B<FBKFG<TIM<D<S HHDWI;I< I EIYG DK <R UIQGC TICFD DK DH TCBUDC ERICFG ;D I^RDH <BVHGS QS

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?j?

EGK<DERDKFDUDKFDS HI EGK<GHB;IEBLK ;D RKI HDEFRCI aB<FLCBEI Q RKI B;DKFB;I; KIEBGXKIH KG DcDKFI ;D BKFDKEBGKIHB;I; TGHMFBEI ^RD aIYCMI ;D RFBHBbIC TICI NBKIHB;I;D< B;DGXHLVBEI< HI< VCIK;D< EGUTG<BEBGKD< aB<FLCBEI<=

)D ERIH^RBDC NGCUIS Q IRK KG FCIF\K;G<D D<TDEMNBEIUDKFD ;D TBKFRCI< ;D aB<FGCBIS aICDXUG< CDNDCDKEBI DK D<FD ITICFI;G IH V_KDCG ;DH CDFCIFGS Q ;D UIKDCI TICFBERHIC I HI< BEGKGXVCINMI< ;D HG< TCLEDCD< ;D HI DUIKEBTIEBLK= 3G;CMIUG< I^RM FGUIC EGUG TICI;BVUI HG<CDFCIFG< ;DH +BYDCFI;GC #BULK -GHMWICS ERQI DNBVBD IHEIKbL RKI ;BNR<BLK ;BNMEBH ;D ERIKFBNBXEIC KG <GHIUDKFD DK I^RDHHG< TIM<D< DK HG< ^RD HD ERTG HI GYCI BK;DTDK;DKFB<FI <BKGFIUYB_K DK DH CD<FG ;DH EGKFBKDKFD= #IYB;G D< ^RD HG< CDFCIFG< ;D -GHMWIC CDIHBbI;G< IHKIFRCIH <D ERDKFIK EGK HG< ;D;G< ;D HI UIKGS <BDK;G D<FD aGKGCS TRD<S CD<DCWI;G< I RKG<TGEG< TCBWBHDVBI;G< EGUG DH URHIFG HBUDdG eG<_ 7BH ;D 0I<FCGS ^RBDK VGbL ;D BKR<BFI;INGCFRKI DKFCD HI< EHI<D< ;BCBVDKFD< EGUG HG ;DURD<FCI HI TCGNR<I TCG;REEBLK ;D CDFCIFG<CDIHBbI;G< DK 0aBHDS <GYCD FG;GS Q DK GFCG< TIM<D<S DK HI< TCBUDCI< ;_EI;I< ;DH `"`l 7BHS;I;I HI IHFI ;DUIK;I ;D FCIYIZGS <GHMI FDKDC TBKFI;G< DK <R D<FR;BG WICBG< HBDKbG< DK ;GK;D<D WDMIK UD;BG< ERDCTG< WD<FB;G< Q <BK EIYDbI<S DKFCD HG< ̂ RD HG< EHBDKFD< TG;MIK DHDVBC DH^RD EGK<B;DCICIK U\< ITCGTBI;G TICI NBZIC I TG<FDCBGCB <R CDFCIFG=

%FCG ;D HG< BEGKLVCING< ;BCDEFG< ;D -GHMWIC NRD DH EGHGUYBIKG eG<_ .ICMI *<TBKGX<IS ^RBDK CDIHBbL DH CDFCIFG <GYCD RKI MKNBUI TBDbI ;D UICNBHS EGK<DCWIK;G DH GCBVBKIH DK<R TG;DC Q DKFCDVIK;G I <R< EGUBFDKFD< RKI EGTBI ;DH UB<UG= *<FI ;DEB<BLK TDCUBFMIIH CDFCIFB<FI IEGUDFDCS I TICFBC ;DH GCBVBKIHS URHFBFR; ;D EGTBI< TGC DKEICVGS DWBFIK;GI<M DK HI< UB<UI< HI TG<BYBHB;I; ;D ^RD <D UIKBND<FI<D ;D UIKDCI TIRHIFBKI RKI T_C;BX;I ;D EIHB;I; ^RD HI< [EGTBI< ;D EGTBI<] TG;MIK EIR<IC= +I VCIK EIKFB;I; ;D CDFCIFG<DcB<FDKFD< ;D -GHMWIC TICFBDCGK ;D HG< DZDERFI;G< IH KIFRCIH TGC D<FG< ICFB<FI<= )DYD<DdIHIC<D I<BUB<UGS TGC BUTGCFIKFDS DH aDEaG ;D ^RD *<TBKG KG ;DUI<BI;G aIYBFRIH DK D<FD FBTG ;DGYCI<l D<FG <D ;DYBL IH VCIK ;D<ICCGHHG ^RD DK 0GHGUYBIS EGKECDFIUDKFDS FRWG DH ICFD;D HI UBKBIFRCIS TGFDKEBI;I I NBKIHD< ;DH `O""" ERIK;G DH <IYBG eG<_ 0DHD<FBKG .RFB<HHDWL I EIYG HI EGKGEB;I 2HGCI ;D -GVGF\ <BDK;G <R< EGHIYGCI;GCD< RK EGKZRKFG ;DICFB<FI< KDGVCIKI;BKG< ^RDS VCIEBI< I HI< KDED<B;I;D< ;D HI DcTDCBDKEBIS <D DZDCEBFICGKDK RK FBTG ;D ;BYRZG URQ ;DFIHHI;G FIH EGUG HI CDTCD<DKFIEBLK ;D HI< D<TDEBD< YGF\XKBEI< HG CD^RDCMI=

)D ERIH^RBDC UIKDCIS RK IHFG TGCEDKFIZD ;D HG< CDFCIFG< ;D TCLEDCD< CDIHBbI;G< DKFGCKG I HG< IdG< ;D HI "K;DTDK;DKEBIS Q HG< ;D 7BH ;D 0I<FCG <GK RK YRDK URD<FCICBG;D DHHGS GYD;DEDK I E\KGKD< D<F_FBEG< ;D TGEI Q KRHI WBKERHIEBLK I HI< KGCUI< IEI;_XUBEI<= )RCIKFD UREaG FBDUTG D<FD FBTG ;D CDTCD<DKFIEBGKD< IH UICVDK ;D HI< CDVHI<[EH\<BEI<]S KG NRDCGK FDKB;I< DK ERDKFI TGC HG< aB<FGCBI;GCD<S D BKEHR<BWD KG <D HD<EGKED;BL HI EIFDVGCMI ;D [GYCI< ICFM<FBEI<] TGC D<D EIC\EFDC TGTRHIC ^RD HI< <BVKIYI=3GC <RDCFD D<FI UBCI;I FIK <D<VI;I TGC TICFD ;D HG< aB<FGCBI;GCD< Q HG< ECMFBEG< NRD;DEIQDK;GS TDCUBFBDK;G TICI HI< UB<UI< RKI EGK<B;DCIEBLK IEGC;D EGK <R BUTGCFIKXEBI Q <BVKBNBEIEBLK= 3ICI EGUTCDK;DC HI TBKFRCI BYDCGIUDCBEIKI ;DH <BVHG `"` D< KDEDX<ICBG DKFDK;DC ^RD YRDKI TICFD ;D HI TCG;REEBLKS <GYCD FG;G DK TCGWBKEBI<S <D EICIEFDCBbITGC D<I UBCI;I ;D<TCGWB<FI ;D E\KGKD< IEI;_UBEG<S EI<B BKVDKRIS ;D NIEFRCI UREaI<WDED< ICFD<IKIHS EICDKFD ;D UG;DHG< D<F_FBEG< DK ;GK;D I<DKFIC<DS TDCG ^RD UIKBND<XFICGK BK;R;IYHDUDKFD RKI IRFDKFBEB;I; Q RK <DKFBUBDKFG ;D ^RD UREaI< WDED< EICDXEBL HI TCGTBI TBKFRCI CDIHBbI;I DK HI< D<ERDHI<=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?jp

e%#/ 7"+ )* 0'#$&% :3*&r>= &*$&'$% )* #".J, -%+6O'& *, +".' :fj?A>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?jh

%FCG I<TDEFG ;D VCIK ;D<ICCGHHG DK HI< TCBUDCI< ;_EI;I< ;DH `"` NRD HI RFBHBbIEBLK;D IHDVGCMI<S BK;DTDK;BDKFD< G BKEGCTGCI;I< I RKI D<EDKI aB<FLCBEI= ' D<FI WDCFBDKFDFIUYB_K HD ERTG HI ;GYHD UBCI;IS IEI;_UBEI Q TGTRHIC= 8KI ;D HI< CDTCD<DKFIEBGKD<^RD ITICDED EGK UIQGC TCGNR<BLK D< I^RDHHI DK ^RD <D CDEGKGEMI I 'U_CBEI S RKIBK;MVDKI DUTHRUI;IS EGK EICEIZ ;D NHDEaI< Q NIH;DHHMK ;D THRUI< EGUG IFCBYRFG< U\<<IHBDKFD<S <DKFI;I TGC HG VDKDCIH <GYCD RK EIBU\K Q I WDED< IEGUTIdI;I ;D RK ERDCXKG ;D HI IYRK;IKEBIS <GYCD FG;G RFBHBbI;G DK HI _TGEI ;D HI "K;DTDK;DKEBI TICIWBKERHIC HI< KRDWI< aB<FGCBI< ;D HI< KIEBGKD< KIEBDKFD< I HI B;DI ;D CB^RDbI Q ;DTCGVCD<G= *<FI BUIVDK ;D 'U_CBEI S ^RD WDCDUG< ITICDEDC FIUYB_K DK WICBG< UGKRXUDKFG< TkYHBEG< ;D;BEI;G< I 0CB<FLYIH 0GHLKS NRD I;ITFI;I I HG< \UYBFG< KIEBGKIHD<EGKWBCFB_K;G<D DK HI BUIVDK ;D ._cBEG GS EGUG URD<FCI RKI H\UBKI ;D .DHEaGC.ICMI .DCEI;GS DK -GHBWBI S ;D ERQI EIYDbI DH .ICB<EIH #RECD aIED KIEDC HI< EBDKEBI<Q HI< ICFD< :fjhf>=

*KFCD HI< IHDVGCMI< UBHBFICD<S <RCVB;I< I TG<FDCBGCB ;D HI< YIFIHHI<S D< aIYBFRIH WDC DKHI< UB<UI< DHDUDKFG< EGUG FIUYGCD<S YIQGKDFI<S YIK;DCI<S D<FIK;ICFD<S CRD;I< ;DEICCG< ;D EGUYIFDS DFE=S ^RD <BUYGHBbIYIK HI< WBEFGCBI<= *<FG D< NCDERDKFD KG <GHIUDKXFD DK HI< D<EDKI< ;D _TGEIS <BKG FIUYB_K DK HI< TBKFRCI< ;D aB<FGCBI CDIHBbI;I< I NBKIHD<;DH `"` <GYCD aDEaG< TCDF_CBFG<S HG ERIH ;DURD<FCI HI BKNBHFCIEBLK Q EGKFBKRB;I; ;DD<FI< IHR<BGKD< DK DH ICFD ;D HI< IEI;DUBI< IUDCBEIKI< DK <R UGUDKFG ;D UIQGCD<THDK;GC= *cB<FDK CDTCD<DKFIEBGKD< UBHBFICD< DK HI< ERIHD<S ;DKFCG ;D RK UICEG IHDXVLCBEGX<BUYLHBEGS <D BKFDVCIK HI< DNBVBD< ;D HG< VDKDCIHD< WDKED;GCD<S I UIKDCI ;DUD;IHHGKD<S CD<DCW\K;G<D HRVIC ;D TCDUBKDKEBI I HG< U\< BUTGCFIKFD<= *< DH EI<G ;DH

',J,".% :./`"0%>= '+*7%&6' )* +' ",)*3*,)*,0"' :+' 3'$&"' +"-*&')'3%& !")'+7% * "$8&-")*> :fjph>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?jA

.*+0!%& .'&6' .*&0')% :-%+"O"'>= *+ .'&"#0'+ )* '1'080!% !'0"*,)% ,'0*& +'# '&$*# 1 0"*,0"'# )* +' 0'-*9' )* -%+"O"' :0=fjhg>=

;BNRK;B;G *<ER;G IHDVLCBEG DK aGKGC ;D -GHMWIC TBKFI;G DK 0RbEG :3DCk> DK fj?ASDK HI ERIH DH <BFBIH ;D TCDNDCDKEBI D<F\ ;D<FBKI;G IH +BYDCFI;GCS ^RD ITICDEDS IRK YIZGFBKFD TGTRHICS EGK CI<VG< CDEGKGEBYHD< :HI UIKG ;DCDEaI ;DKFCG ;D HI EaI^RDFIS EGUXTICIYHD I HI< CDTCD<DKFIEBGKD< ;D ,ITGHDLKS D< RK UDK<IZD BEGKGVC\NBEG TCDEB<G>SCG;DI;G TGC <R< <DVRK;G< ERQI< DNBVBD< CD<RHFIK BUTDC<GKIHD< Q D<FDCDGFBTI;I<= 0GKDH TI<G ;DH FBDUTG Q DH I;WDKBUBDKFG ;D HI NGFGVCINMIS NRD aIYBFRIH HI DZDEREBLK ;DERI;CG< UBHBFICD< <BUBHICD<S <LHG ^RD DK HG< UD;IHHGKD< HI KRDWI F_EKBEI CDDUTHIbL I HITBKFRCI=

8KG ;D HG< FDUI< CGU\KFBEG< ^RD UIQGC TCD<DKEBI FRWG DK HI TBKFRCI IUDCBEIKINRD DH ;D HI URDCFDS WBKERHI;I DK D<FD EI<G IH aDCGM<UG= +I< KICCIEBGKD< TBEFLCBEI<S I<M EGUG HI IUTHM<BUI HBFDCIFRCI <RCVB;I DK FGCKG I HI< VD<FI< TIFCBLFBEI<S TDCUBFDK I<DWDXCIC D<FI CDIHB;I;= *< EICIEFDCM<FBEG ;D HG< TIM<D< IUDCBEIKG< :KG DcEHRQDKFDS FIUYB_K HGWDUG< DK *RCGTI> HI VHGCBNBEIEBLK FIKFG ;D HI< EI<I< KIFIHD< ;D HG< TCGaGUYCD< EGUGI<M FIUYB_K ;D HG< <BFBG< ;GK;D URCBDCGKS G UDZGC ;BEaGS [DKFCICGK DK HI VHGCBI]= *K HI<aB<FGCBI< KIEBGKIHD<S Q DK D<TDEBIH DK HI< ^RD <GK TICFD ;D HI< DK<DdIKbI< D<EGHICD<IRK DK HI IEFRIHB;I;S D< UGKD;I EGCCBDKFD FCIK<UBFBC EGK D<TDEBIH DUGEBLK HG< UGUDKXFG< ERHUBKIKFD< ;D HI< WB;I< ;D HG< a_CGD<S <BK <G<HIQIC I<TDEFG< FCI<EDK;DKFD< EGUG[HI< kHFBUI< TIHIYCI<] ;D HG< UB<UG<5 TGC EI<G TG;CMIUG< EBFIC HI< ;DH ICVDKFBKG .IX

KRDH -DHVCIKGS ECDI;GC ;D HI YIK;DCI KIEBGKIHS ^RD IKFD< ;D DcTBCIC aIYCMI DcTCD<IX;G5 ['Q 3IFCBI UMI]=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?ji

',J,".% :3*&r>= *#08)% '+*7J&"0% *, !%,%& )* -%+6O'& :fj?A>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?js

*K DH EI<G ;D HI TBKFRCI HG< DZDUTHG< <GK aICFG NCDERDKFD<= -IZG FBKFD< TGTRHICD<TG;CMIUG< <DdIHICS DK 0GHGUYBIS +I URDCFD ;D #IKFIK;DC :fjhf> TBKFI;I TGC +RB<7ICEMI !DWBIS GYCI ^RD <D DKERDKFCI DcTRD<FI aIYBFRIHUDKFD DK DH .R<DG ,IEBGKIH;D 0GHGUYBIS DK -GVGF\S Q DK ;GK;D DH a_CGD ITICDED DK <R HDEaG ;D URDCFD CG;DI;GTGC <R< <RYIHFDCKG<S IUBVG< Q IRFGCB;I;D< EBWBHD< Q CDHBVBG<I<l EI;I RKG ;D D<FG<TDC<GKIZD< ITICDED TDCNDEFIUDKFD BK;BWB;RIHBbI;GS BKEHR<BWD RKG ;D DHHG<S ;D TDCNBHSUIKBNBD<FI HI UICEI;I BKEHBKIEBLK ;DH ICFB<FI TGC HI EICBEIFRCIS CI<VG YBDK EGKGEB;G=*K DH UB<UG TIM<S 3D;CG eG<_ 2BVRDCGI NRD IRFGC ;D RKI <BKVRHIC GYCIS +I URDCFD ;D #RECD :fjpA>S DK ERQI D<EDKI BKEHRQD HI NBVRCI ;D RK HDGTIC;G I UIKDCI ;D WDHI;I;DKRKEBIS FGUIK;G TICFB;G DK RK ECBUDK KG ;DH FG;G IEHICI;GS Q ^RD 2BVRDCGI BKFDCXTCDFL ECMTFBEIUDKFD CDTCD<DKFIK;G EGK D<D IKBUIH I ^RBDK DH EGK<B;DCIYI <G<TDEaG<GSeG<_ .ICMI %YIK;GS HHIUI;G [*H FBVCD ;D -DCCRDEG<]S FIH EGUG ITRKFL HI aB<FGCBI;GCI-DIFCBb 7GKb\HDb=

0GUG aDUG< DcTRD<FGS DH VCIK UGUDKFG ;D HI TBKFRCI ;D aB<FGCBI DK "YDCGIU_CBEINRDCGK HI< FCD< kHFBUI< ;_EI;I< ;DH <BVHG `"` Q HG< TCBUDCG< IdG< ;D HI EDKFRCBI

<BVRBDKFD= *<FI FDU\FBEIS HBVI;I ;BCDEFIUDKFD I HI IEFBWB;I; IEI;_UBEIS <D TGFDKEBL;D<;D HG< EDKFCG< DRCGTDG< DK ;GK;D ZRKFG I GFCI< FDU\FBEI< EGUG HI HHIUI;I [TBKFRX

+8"# 7'&06' !*O"' :0%+%.-"'>= +' .8*&$* )* #',$',)*& :fjhf>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?jg

;GK;DS EGUG <D IKIHBbIC\ U\< I;DHIKFDS FRWG WICBI;I< CDTCD<DKFIEBGKD<= +I aB<FGCBINRD YDK_WGHI EGK 0GHLK Q <R VD<FI NRD WB<FI EGK YRDKG< GZG< TGC HG< IUDCBEIKG<SIHVG ^RD KG GERCCBL EGK TDC<GKIZD< ^RD HD <RED;BDCGKS QI DK HI EGK^RB<FI ;DH ,RDWG.RK;GS EGUG :<GYCD FG;G> !DCK\K 0GCF_< DK ._cBEG=

)D HG< FDUI< WBKERHI;G <GYCD<IHDK TGC <R IYRK;IKFD CDTCD<DKFIEBLK HI< [TCBUDCI< UBX<I<] DK 'U_CBEIS DK DH &MG ;D HI 3HIFIS DK ._cBEGS DK -CI<BH Q DK HG< ;DU\< TIM<D<= +ICDTCD<DKFIEBLK ;D D<FD aDEaG aB<FLCBEGS BKBEBG ;D HI DWIKVDHBbIEBLK DK DH ,RDWG .RKX;GS CD<TGK;BL I BKFDCD<D< EGKFDUTGC\KDG< WBKERHI;G< I HI "VHD<BI EGUG TICFD BUTGCXFIKFD DK DH *<FI;GS I;DU\< ;D UICEIC TIRFI< ;D EGKWBWDKEBI DKFCD HI TGYHIEBLK IRFLEFGKIIUDCBEIKI Q HG< CDEB_K HHDVI;G< DRCGTDG<S aDEaG DK DH ^RD IHVRKG< aB<FGCBI;GCD<WBDCGK WBKERHIEBLK I HI ICUGKMI IKaDHI;I DKFCD HG< aIYBFIKFD< ;DH EGKFBKDKFD Q HIBKUBVCIEBLK DRCGTDI ;DH `"`= %FCG ;D HG< FDUI< ;D IUTHBI CDTCD<DKFIEBLK NRD HI[2RK;IEBLK] ;D HI< EBR;I;D<S <BDK;G DK D<FD ITICFI;G ;D EIC\EFDC TICI;BVU\FBEG DHHBDKbG CDIHBbI;G TGC DH D<TIdGH eG<_ .GCDKG 0ICYGKDCG <GYCD +I 2RK;IEBLK ;D -RDX KG< 'BCD< :fgf@Xfg?h>S ^RD <DCWBCMI EGUG UG;DHG TICI GFCI< TBKFRCI< ;D [NRK;IEBGXKD<] EGUG HI 2RK;IEBLK ;D .DK;GbI TGC &INIDH 0RYBHHG :fgpA> DK 'CVDKFBKI G HI2RK;IEBLK ;D +BUI TGC 2CIKEB<EG 7GKb\HDb 7IUICCI :fghh> DK 3DCk=

',J,".% :#8)'./&"0'>= 0%+J, *, './&"0' :.*)"')%# #"7+% `"`>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?g@

p= +' 0%,q8"#$'

*K HG< T\CCING< BKFCG;REFGCBG< ;D D<FD EITMFRHG aIYMIUG< <DdIHI;G EGUG HG< FDUI<;D HI EGK^RB<FI aIYMIK D<FI;G TCD<DKFD DK DH ICFD WBCCDBKIHS I FCIW_< ;D GYCI< EGUG HG<[DKEGKEaI;G<] ;D .BVRDH 7GKb\HDb DK ._cBEG= *K DH `"` D<FD TDCBG;G aB<FLCBEGEGUG FDUI ;D CDTCD<DKFIEBLK TH\<FBEI IHEIKbIC\ KRDWI< EGFI< ;D BUTGCFIKEBIS WBKERXHI;G IH KRDWG aGCBbGKFD KIEBGKIHB<FI UDcBEIKG DK DH ^RD <GYCD *<TIdI Q HG aB<TIKGTHIKDL ;RCIKFD HI< ;_EI;I< ^RD <BVRBDCGK I HI "K;DTDK;DKEBI UDcBEIKI RKI WDC;I;DXCI HDQDK;I KDVCI = #D D<ECBYBDCGK DKFGKED< aB<FGCBI< ;D ._cBEG DK HI< ^RD ;BCDEFIUDKXFD <D TI<IYI ;DH TDCMG;G ;D BKBEBG< ;D HI EGK^RB<FI I HI *UIKEBTIEBLKS ;DZIK;G ;DHI;G Q <BK DNDEFG IHVRKG HG< HICVG< <BVHG< ;D [D;I; G<ERCI] ^RD aIYMIK <BVKBNBEI;G HITCD<DKEBI D<TIdGHI DK 'U_CBEI=

+I< WB<BGKD< KDVIFBWB<FI< ;DH TDCMG;G ;D HI EGK^RB<FI EGKFCI<FIYIK EGK RKI UBCI;IB;DIHBbI;I Q KG DcDKFI ;D ;BCDEFI WBKERHIEBLK IH EHI<BEB<UG UBFGHLVBEGS ^RD <D ITHBEIXYI IH TI<I;G TCDaB<T\KBEG= *K ._cBEGS Q IHVG UDKG< DK 3DCkS HG TCDEGHGUYBKG EGUGFDU\FBEI ;D HI TBKFRCI ;D aB<FGCBI IHEIKbI RKI DKFB;I; TCGTBI Q ;D NR<FD EGUTCGYI;G=*<FI WB<BLK TGFDKEBI;GCI ;D RKI aB<FGCBI HDZIKIS NRD EGK<FCRB;I EGK RKI EHICI BKFDKXEBGKIHB;I; ;D <RYZDFBWBbIC RK TI<I;G HHIUI;G I <DCWBC EGUG UG;DHG I HG< KRDWG<CRUYG< TGHMFBEG<= %YCI< EGUG *H #DKI;G ;D $HIcEIHI :fjsA> ;D &G;CBVG 7RFB_CCDbS G*H )D<ERYCBUBDKFG ;DH TRH^RD ;D eG<_ .ICMI %YCDVLKS KG< FCIDK CDUBKB<EDKEBI< ;DRKI _TGEI TCDF_CBFI ^RD DK EBDCFI UD;B;I ;DYMI CDBKWDKFIC<D EGK KRDWI< BKFDCTCDFIXEBGKD< WB<RIHD<=

*KNCDKFI;G I DHHGS HI< ;CIU\FBEI< WB<BGKD< ;D HI EGK^RB<FI ^RD ^RD;IK DZDUTHBNBEIX;I< DK GYCI< EGUG DH ;IKFD<EG *TB<G;BG< ;D HI EGK^RB<FI :fjss> ;D 2_HBc 3ICCI G *H

+8"# .%,$*&% :3*&r>= +%# 28,*&'+*# )* '$'!8'+3' :fjihXfjis>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?gf

<RTHBEBG ;D 0RIRaF_UGE :fjgh> ;D +DIK;CG "bIVRBCCDS I ERQG< UGFBWG< <D GTGKD RKIUBCI;I YDK_WGHI ^RD FRWG EGUG TCGFIVGKB<FI I 2CIQ -ICFGHGU_ ;D HI< 0I<I<S DK <RTITDH ;D TCGFDEFGC ;D HG< BK;BG<S Q ^RD NRD HHDWI;I IH HBDKbG TGC DH TCGTBG 3ICCIS;BNRK;B_K<D I<BUB<UG I FCIW_< ;D HI< H\UBKI< VCIYI;I< TGC eG<_ 7RI;IHRTD 3G<I;I;DKFCG ;D HI <DCBD [-BYHBGFDEI ;DH ,BdG .DcBEIKG] ;D<FBKI;I I HI< D<ERDHI< ;DH TIM<=#B YBDK DH FDUI ;D HI EGK^RB<FI NRD D<DKEBIH DK HI TBKFRCI ;D aB<FGCBI ;D ._cBEGS DK DHGFCG NGEG BUTGCFIKFD ;DH TDCMG;G TCDaB<T\KBEG Q WBCCDBKIHS DK DH 3DCkS DcB<FBDCGK GYCI<TBGKDCI< ;D HI FIHHI ;D +G< NRKDCIHD< ;D 'FIaRIHTI :fjihXis>S ;D +RB< .GKFDCGS GYCICDIHBbI;I DK *RCGTIS WDC;I;DCI [U\^RBKI ;D TDC<RI<BLK]S EIC\EFDC ^RD TDCUBFMIS IFCIW_< ;D <R ;CIUIFB<UGS RK IEDCEIUBDKFG I HI aB<FGCBI ;D<;D RKI WB<BLK ;D VCIKDUGFBWB;I;= +I GYCI ;D .GKFDCG IHEIKbL KGFGCBI ;BNR<BLK VCIEBI< I <R DcTG<BEBLKTkYHBEI KG <GHIUDKFD DK DH 3DCk <BKG DK GFCG< TIM<D< EGUG 'CVDKFBKIS D BKEHR<BWD TGCHI HBFGVCINMI ^RD <GYCD DH UB<UG CDIHBbL DK 3ICM< 8= ';WBKDKF DK fjis=

h= +' /3%0' )* +' ",)*3*,)*,0"'

"K;R;IYHDUDKFD <D FCIFI ;DH FDUI aB<FLCBEG TGC DcEDHDKEBI DK HI< EGUTG<BEBGKD<TBEFLCBEI< IUDCBEIKI<S <BDK;G I<BUB<UG RK I<RKFG TCD<DKFD EGK TCGNR<BLK DK HI< TCGX;REEBGKD< ICFM<FBEI< ;D TC\EFBEIUDKFD FG;I< HI< KIEBGKD<= ' UIKDCI ;D <MKFD<B<S TG;CMIXUG< EDKFCICKG< DK HI< NBVRCI< U\< CDTCD<DKFIFBWI<S EGUG DH RCRVRIQG eRIK .IKRDH-HIKD<S BEGKLVCING NRK;IUDKFIH ;D HI VD<FI DUIKEBTI;GCI ;DH VDKDCIH eG<_ ;D #IK.ICFMK DK 'CVDKFBKIS 0aBHD Q 3DCkS EGUG I<BUB<UG ;D GFCI< GYCI< ;D VCIK EIHI;GWBKERHI;I< I GFCG< UGUDKFG< aB<FLCBEG< Q EGKFDUTGC\KDG<= %FCG NGEG ;D BUTGCFIKEBIDK #R;IU_CBEI HG <RTGKD ODKDbRDHIS DK ;GK;D <D TGFDKEBL ;D<;D DH *<FI;GS <GYCDFG;G I TICFBC ;D HG< TDCBG;G< ;D VGYBDCKG ;DH ;BEFI;GC 'KFGKBG 7RbU\K -HIKEGS HICDTCD<DKFIEBLK UI<BWI ;D D<EDKI< CDHIEBGKI;I< EGK HI< EIUTIdI< ;D -GHMWIC= .ICFMK$GWIC Q $GWIC :^RBb\ DH U\< BUTGCFIKFD URCIHB<FI IUDCBEIKG ;DH `"`>S 'CFRCG .BEaDXHDKIS Q QI DK DH `` $BFG #IHI<S TG;CMIK DCBVBC<D DK RK DZD ;DNBKB;GS ;DH ^RD HLVBEIUDKFDTICFBEBTIK GFCG< TBKFGCD<S Q ^RD ;DZICGK IUTHBG< FD<FBUGKBG< VC\NBEG< ;D ;BEaI VD<FI=

*K DH EI<G ;D -HIKD< <DdIH\YIUG< ̂ RD KG <GHIUDKFD IYGC;L HI< FDU\FBEI< <IKUICFBKBIXKI< <BKG FIUYB_K GFCG< UGFBWG< WBKERHI;G< EGK HI aB<FGCBIS <BDK;G RKI ;D <R< TCBUDCI<DcTDCBDKEBI< HI <DCBD ;D HBDKbG< DKEICVI;G< TGC DH VDKDCIH eR<FG eG<_ ;D 8C^RBbI EGK <R<WBEFGCBI< UBHBFICD< :fjAiXAs>l <BDK;G GYCI< ;D TCBUDCI _TGEI IRK ITICDEDK UIFBbI;I< TGCD<I EBDCFI EGKEDTEBLK TGTRHIC ̂ RD EICIEFDCBbI I YRDKI TICFD ;D HI TCG;REEBLK IUDCBEIKI=$CI< <R TI<G TGC 2HGCDKEBIS TDCNDEEBGK\K;G<D EGK 'KFGKBG 0B<DCBS <D UIKBND<FIC\ DK <R<TBKFRCI< RKI aRDHHI IEI;_UBEI U\< ;DNBKB;IS Q ^RD EICIEFDCBbIC\ I CDTCD<DKFIEBGKD< EGUGHI VCIK EGUTG<BEBLK +I &DWB<FI ;DH &MG ,DVCG :fjgi>=

8KI ;D <R< GYCI< U\< EGKGEB;I< D< *H eRCIUDKFG ;D HG< pp :fjss>S ̂ RD KICCI RK aDEaGD<DKEBIH WBKERHI;G I HI BK;DTDK;DKEBI RCRVRIQIl HG< ;GERUDKFG< aB<FLCBEG< UIKBND<FIYIK^RD DK HI 3HIQI ;D HI 'VCIEBI;IS D<EDKICBG ;DH <RED<GS HG< FCDBKFI Q FCD< aGUYCD< NRDCGK ZRCIK;G RKG TGC WDbS TDCG -HIKD<S DK <R ERI;CGS HG< aIED ZRCIC I FG;G< IH RKM<GKG= *<FG;DURD<FCI ^RD DK ;DFDCUBKI;G< EI<G< HI WDCIEB;I; aB<FLCBEI DCI ;DZI;I ;D HI;G EGK HINBKIHB;I; ;D TDCUBFBC RKI UIQGC DcIHFIEBLKS DK D<FD EI<G TIFCBLFBEIS ;DH aDEaG aB<FLCBEGS <BKEI<B ;DZIC HRVIC I HI HLVBEI ;B<ER<BLK DK FGCKG I HI IRFDKFBEB;I; ;D HI BUIVDK EGUG ;GERX

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?g?

UDKFG= &D<TDEFG ;D HG< WDKDbGHIKG<S TG;DUG< <DdIHIC DK EGKECDFG DH EI<G ;DH EBFI;G $BFG#IHI<S ^RD DK <R< TBKFRCI< HHDWI;I< I EIYG TICI DH #IHLK *HMTFBEG ;DH 3IKFDLK ,IEBGKIHSCDTCD<DKFI DK WICBI< D<EDKI< HI WB;I ;D -GHMWICS Q ERCBG<IUDKFD DH TCLEDC ITICDED DK EI<BFG;I< DHHI<S BK;DTDK;BDKFDUDKFD ;D HI _TGEI DK ̂ RD <D TCG;RZDCIKS EGK HI UB<UI NB<GKGUMIlD<FG CD<TGK;D I HI EGKEDTEBLK ;D ^RD HG< VCIK;D< aGUYCD< ;DYMIK CDTCD<DKFIC<D EGK HID;I; EGCCD<TGK;BDKFD IH UGUDKFG ERHUBKIKFD ;D <R< IEFG< aDCGBEG<S FCIK<UBFBDK;G RKIBUIVDK WBVGCG<I ;D HG< UB<UG<=

A= +' 0%,$*.3%&',*")')

%YD;DEBDK;G I HI< HLVBEI< BKFDKEBGKIHB;I;D< TGHMFBEI< EGKFDUTGC\KDI<S HI TBKFRCI;D aB<FGCBI aIYCMI ;D EGUTCDK;DC KG <GHIUDKFD WB<BGKD< <GYCD _TGEI< TCDF_CBFI< :WBKXERHI;I< ;D IHVRKI UIKDCI IH TCD<DKFD> <BKG I<BUB<UG DH CDHIFG ;D HG< aDEaG< ;DHUGUDKFG= 2RD HG ^RD IHVRKG< HHIUICGK HI ECDIEBLK ;D RK [GHBUTG] EGKFDUTGC\KDGSDK DH ^RD HG< TCGTBG< BKFDCD<I;G< RFBHBbICGK HI< ICUI< ;D HI< ^RD ;B<TGKMIK TICIBKFCG;REBC <R< BU\VDKD< EGUG TICFD BUTGCFIKFD ;D HI aB<FGCBI ;D <R< KIEBGKD<= *K FIH<DKFB;G CD<RHFI DZDUTHBNBEI;GC RK VCIYI;G IHDVLCBEG DK DH ^RD DH TCD<B;DKFD WDKDbGHIXKG 7RbU\K -HIKEG <D EGHGEI I HI UB<UI IHFRCI ;D -GHMWICS D<FIK;G IUYG< DK <DK;G<UD;IHHGKD<l DK HI TICFD BKNDCBGC <D ITCDEBIK D<EDKI< UBHBFICD< WBKERHI;I Q DK HI TICFD <RTDCBGC BU\VDKD< Q <MUYGHG<WBKERHI;G< IH TCGVCD<GS DK ;GK;D EIYDK HG< YICEG<S NDCCGEICCBHD<S HI BVHD<BI Q GFCI<GYCI< TkYHBEI< :DH TRKFG ERHUBKIKFD ;D HI aB<FGCBI KIEBGKIHS EGK 7RbU\K -HIKEG>=

OICBG< ICFB<FI<S DKFCD DHHG< eRIK .IKRDH -HIKD<S FRWBDCGK HI BKBEBIFBWI ;D HHDWIC IHHBDKbG <RED<G< ;CIU\FBEG< ;D <R _TGEIS EGK RKI EHICI NBKIHB;I; ;D IHEIKbIC RK BUTIEXFG <GEBIH I FCIW_< ;D HI ECDIEBLK ;D BU\VDKD<= *K FIH <DKFB;GS DH DZDUTHG U\< CDKGUXYCI;G D< <R GYCI 8K DTB<G;BG ;D HI NBDYCD IUICBHHI DK -RDKG< 'BCD< DZDERFI;G Q

e8', .',8*+ -+',*# :8&878'1>= *+ e8&'.*,$% )* +%# pp :fjss>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?gp

DcTRD<FG DK fjsfS IH UB<UG UGUDKFG ^RD HI ;DWI<FI;GCI DTB;DUBI I<GHIYI I D<IEBR;I;= 3GC DH NGQDC ;DH $DIFCG 0GHLKS DK ;GK;D <D DcaBYBL HI TBKFRCIS TI<ICGK UBHD<;D ERCBG<G< IFCIB;G< TGC WDC CDTCD<DKFI;G DK RK HBDKbG RK BK<FIKFD EGKUGWD;GCWBKERHI;G I <R< TCGTBI< WBWDKEBI<S IHEIKbIK;G -HIKD< RKI TGTRHICB;I; ^RD ;BNMEBHXUDKFD aIYCMI IHEIKbI;G EGK GYCI< EGUG HI< ;D HI< VD<FI< TIFCBLFBEI< ^RD I UREaG<aIYBFIKFD< ICVDKFBKG< HD< CD<RHFIYIK QI URQ HDZIKI<=

%FCG< FD<FBUGKBG< ;D EGKFDUTGCIKDB;I; D<F\K WBKERHI;I< I HI< IEEBGKD< Y_HBEI<^RD <D <RED;BDCGK ;RCIKFD FG;G DH `"`S KG QI <GHIUDKFD HI< CDHIEBGKI;I< EGK HI*UIKEBTIEBLK <BKG FIUYB_K HI< VRDCCI< EBWBHD< BKFDCKI< IEIDEB;I< DK HI< KRDWI< KIXEBGKD<S D BKEHR<BWD IHVRKI< ;D EIC\EFDC BKFDCKIEBGKIH EGUG HI 7RDCCI ;DH 3ICIVRIQ:fjiAXfjs@> ^RD RKBL I 'CVDKFBKIS 8CRVRIQ Q -CI<BH EGKFCI HI KIEBLK VRICIKM= *K;BEaI EGKFBDK;I FGUL ITRKFD< DH ICVDKFBKG 0\K;B;G +LTDbS TDCFDKDEBDKFD I HI< NRDCXbI< ;D HI HHIUI;I $CBTHD 'HBIKbIS EGK HI NBKIHB;I; ;D TI<ICHI< HRDVG IH HBDKbG= )RCIKFDHI YIFIHHI RKI VCIKI;I HD ICCDYIFL DH YCIbG a\YBHS DH ;DCDEaGS D;REIK;G DH Bb^RBDC;GTICI TG;DC EGKEHRBC EGK <R HIYGC= 'HCD;D;GC ;D UD;BG EDKFDKIC ;D FD<FBUGKBG< TBEFLXCBEG<S CDIHBbI;G< QI EGK DH YCIbG Bb^RBDC;G FCI< HI VRDCCIS TDCUBFDK EGKGEDC I FCIW_< ;DRK HDKVRIZD ^RD <D aI WBKERHI;G I HG< TBKFGCD< KIBN S ;DHBEBG<G< ;DFIHHD< ;D HG< <RED<G<SEGK UBKREBG<G< D<FR;BG< ;DH TIB<IZD Q HI BK;RUDKFICBI=

04,)")% +J3*9 :'&7*,$",'>= 0'.3'.*,$% '&7*,$",% 2&*,$* '8&878'1','= fh )* #*3$"*.-&* )* fjiA :0=fjijXfjsi>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?gh

#*+*00"J, )* ".47*,*#

e8', .',8*+ -+',*# :8&878'1>= +' &*O"#$' )* &',0'78' :fjs?>=

3ICI HI CDIHBbIEBLK ;D +I &DWB<FI ;D &IKEIVRI S -HIKD< FCIYIZL DK <R FIHHDC ;D.GKFDWB;DG ;RCIKFD ERIFCG UD<D<= )DFIHHD< EGUG DH D<ER;G ^RD HD NRDCI GY<D^RBI;GTGC DH 7GYBDCKG IH 7DKDCIH #IK .ICFMK HRDVG ;D HI YIFIHHI ;D 0aIEIYREG Q ^RD DHTCLEDC HRED DK <R EG<FI;G ;DCDEaGS HG< CDFCIFG< ;D $GU\< 7RB;G EGK <R D<FCDHHID<UIHFI;I ;D HI +DVBLK ;D ._CBFG ;D 0aBHD BK<FBFRB;I TGC %m!BVVBK< S ;DH $DKBDKFD0GCGKDH )BDVG 3ICGB<BDK Q ;D 2_HBc ;D %HIb\YIH EGK BUTDEIYHD RKBNGCUD BKVH_< Q HI<DKEBHHI Q DUTGHWI;I WD<FBUDKFI ;DH TRDYHG <GK <LHG IHVRKG< MK;BED< ;DH CBVGC TRD<FGTGC DH ICFB<FI DK HI CDEGK<FCREEBLK aB<FLCBEI= *K GYCI< EGUG D<FI <D INBCUI RKI ;D HI<EICIEFDCM<FBEI< D<DKEBIHD< ;D HI TBKFRCI ;D aB<FGCBI DK FIKFG DH ICFB<FI ;DYMI IYGEIC<D I

RK D<FR;BG TGCUDKGCBbI;G ;D HG< ;GERUDKFG< aB<FLCBEG< DcB<FDKFD<S CDEGTBHIC HI< BEGXKGVCINMI< ;D HG< TDC<GKIZD<S EGKGEDC HI< BK;RUDKFICBI< ;D _TGEIS QS <B FDCEBIYIS CDEGXCCDC BK <BFR HG< <BFBG< DK ;GK;D <D aIYMIK TCG;REB;G HG< aDEaG< ^RD ;DYMI CDTCD<DKFIC=*H ERI;CG ;DYMI EGK;DK<IC HG U\< WDCIbUDKFD TG<BYHD D<FG< I<TDEFG<S Q TI<ICMI DKEI<G< I EGK<B;DCIC<D DH [;GERUDKFG ;D ;GERUDKFG<]=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?gA

04,)")% +J3*9 &*$&'$',)% ' -'&$%+%./ ."$&*

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?gi

,IEB;G DK fjh@S 0\K;B;G +LTDb <D ;D<DUTDdL ;D<;D FDUTCIKI D;I; EGUG TBKXFGC Q NGFLVCING :CDIHBbL <GYCD FG;G CDFCIFG< IH ;IVRDCCGFBTG>S CDIHBbIK;G WICBG< BFBKDXCICBG< ;DKFCG HI TCGWBKEBI ;D -RDKG< 'BCD<= *<FI< HIYGCD< HD TDCUBFBCMIK I;BD<FCICRKI UBCI;I NGFGVC\NBEIS DK FIKFG UBKREBG<IS ERQI< EGK<DERDKEBI< D<FICMIK TCD<DKFD<DK <R< GYCI< U\< ;D<FIEI;I<S HI< ^RD CDIHBbL <GYCD HI 7RDCCI ;DH 3ICIVRIQ I TICFBC;D ITRKFD< I H\TBb FGUI;G< ;BCDEFIUDKFD <GYCD DH FDCCDKG= )D <R< TCBUDCG< IdG< <DEGKGEDK URQ TGEI< GYCI<S DKFCD DHHI< DH CDFCIFG ^RD HD aBbG IH VDKDCIH -ICFGHGU_.BFCD DK HI EBR;I; ;D .DCED;D<S TGEG ;D<TR_< ;D aIYDC <B;G DHDVB;G TCD<B;DKFD ;DHI ,IEBLK= 'H EGUDKbIC HI VRDCCIS <D IHB<FL DK DH DZ_CEBFG ;D HI $CBTHD 'HBIKbI :-CI<BHS'CVDKFBKI Q 8CRVRIQ> EGK DH VCI;G ;D FDKBDKFD <DVRK;G DK DH YIFIHHLK ;D WGHRKFIXCBG< ;D #IK ,BEGH\<S TICFBEBTIK;G DK WICBI< YIFIHHI< ;GK;D FGUL HG< EBFI;G< ITRKXFD<= *K <DTFBDUYCD ;D fjiiS DK HI YIFIHHI ;D 0RCRTIQFMS RKI VCIKI;I HD aBCBL HI UIKG;DCDEaI EGK FIH VCIWD;I; ^RD NRD KDED<ICBG IUTRFICHD DH YCIbG= 'dG< ;D<TR_<S QaIYBDK;G D;REI;G DH YCIbG Bb^RBDC;GS EGUDKbL I TBKFIC <R< GYCI< CDEGK<FCRQDK;GHI< YIFIHHI<S HG< EIUTIUDKFG<S HG< TIB<IZD< DK HG< ERIHD< HD aIYMI FGEI;G IEFRIC= +ICDTCD<DKFIEBLK ;D HI< WBEB<BFR;D< ;D HI VRDCCI NRD ;D FIH NB;DHB;I; ^RD DH TCGTBG.BFCD KG ;R;L DK INBCUIC ^RD [<R< ERI;CG< <GK WDC;I;DCG< ;GERUDKFG< aB<FLCBEG< TGC <R NB;DHB;I; VC\NBEI Q EGKFCBYRBC\K I EGK<DCWIC DH VHGCBG<G CDERDC;G ;D HG< aDEaG< ^RD CDTCD<DKFIK]=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?gs

e%#/ 78')'+83* 3%#')'= 2&'1 -'&$%+%./ )* +'# 0'#'# :fjgg>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$?gj

eG<_ 7RI;IHRTD 3G<I;I NRD RKI ;D HI< NBVRCI< U\< <GYCD<IHBDKFD< D BKNHRQDKFD< ;DHICFD UDcBEIKG EGKFDUTGC\KDG= "KBEBL D<FR;BG< ;D ;BYRZG EGK 'KFGKBG OICDHIS EGHIYGXCIK;G HRDVG EGUG ITCDK;Bb ;D HBFGVCINMI DK DH FIHHDC ;D VCIYI;G ;D $CBKB;I; 3D;CGbG:fjs@>= *K DH <DUIKICBG *H eBEGFD S ;BCBVB;G TGC 3D;CGbGS TRYHBEL <R< TCBUDCG< IKRKEBG< DBHR<FCIEBGKD< <IFMCBEI<S ;DNBKBDK;G VCI;RIHUDKFD RK D<FBHG ;D EICIEFDCM<FBEI< <BKVRHICD<=)BEFL EHI<D< ;D HBFGVCINMI DK HI< *<ERDHI< ;D "K<FCREEBLK #DERK;ICBI ;D +DLKS 7RIKIZRIXFG :fjjh>= "K<FIHI;G DK ._cBEGS IYCBL FIHHDC TCGTBG DK fjjj D;BFIK;G D BHR<FCIK;G DHTDCBL;BEG +I 3IFCBI "HR<FCI;I S D BKEGCTGC\K;G<D IH IdG <BVRBDKFD I HI D;BFGCBIH ;D 'KFGKBGOIKDVI< 'CCGQG FCIYIZIK;G DK DH ;DTICFIUDKFG ;D VCIYI;GS IEFBWB;I; ̂ RD HHDWL I EIYGaI<FI <R URDCFD= #R TCG;REEBLK <D EIHERHI DK RKG< ?@=@@@ VCIYI;G<S CDIHBbI;G< HIUIQGCMI ;D DHHG< <GYCD bBKES F_EKBEI ̂ RD BKFCG;RZG DK fjgA= *KFCD <R< UGFBWG< <BK ;R;INRDCGK HI< [EIHIWDCI<] HI< U\< INGCFRKI;I<S IHEIKbIK;G VCIK ;BNR<BLK TGTRHIC DK DHkHFBUG ERICFG ;D <BVHGS ;D<ECBYBDK;G VC\NBEIUDKFD I FCIW_< ;D HI< UB<UI<S WB;I< ;D <IKXFG<S HDQDK;I<S UBHIVCG<S EGCCB;G< Q EICBEIFRCI< ;D HI <GEBD;I; ;D <R UGUDKFG= &DIHBbLH\UBKI< TICI HI HHIUI;I -BYHBGFDEI ;DH ,BdG .DcBEIKGS D<FIUTI< ;D<FBKI;I< I BKFCG;REBCI HG< D<EGHICD< DK HG< EGKGEBUBDKFG< ;D HI aB<FGCBI ;D <R TIM<S CD<EIFIK;G aDEaG< QTDC<GKIZD< ;D<;D HI _TGEI TCDaB<T\KBEI= *K HI< ;D;BEI;I< I HG< FBDUTG< ;D HI EGK^RB<FIUIKBNBD<FI <R U\< IEDK;CI;I ECMFBEI I HI IEEBLK ;D HG< D<TIdGHD<S DK EGK<GKIKEBI EGK HI<EGCCBDKFD< IKFBaB<T\KBEI< ̂ RDS DK DH EI<G ;D HI TBKFRCIS UG<FCICGK BKD^RMWGEG< FD<FBUGXKBG< EGUG *<EDKI< ;D HI EGK^RB<FI :fjss> ;D 2_HBc 3ICCI G *H <RTHBEBG ;D 0RIaF_UGE :fjgh> ;D +DIK;CG "bIVRBCCD= +I D<FIUTI ^RD URD<FCI I 2CIQ -ICFGHGU_ ;D HI< 0I<I< EGUG TCGFDEFGC ;D HG< BK;BG< D< RKI ;D HI< D<EI<I< WB<BGKD< TG<BFBWI< ;D I^RDHHI _TGEI QUIKBNBD<FI <R WBKERHIEBLK I RKI ;D HI< TBKFRCI< U\< EGKGEB;I< ;D 3ICCIS CDIHBbI;I <GYCDDH UB<UG FDUI DK fjsA=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ?gg

#'+' *#3'P%+' )* +' *`3%#"0"J, )*+ 0*,$*,'&"%S -8*,%# '"&*#:fgf@>= ' +' "9q8"*&)'S +' 28,)'0"J, )* -8*,%# '"&*# S )* e%#/.%&*,% 0'&-%,*&%=

+I 2RK;IEBLK ;D -RDKG< 'BCD< S GYCI TICI;BVU\FBEI ;DH D<TIdGH eG<_ .GCDKG 0ICXYGKDCGS NRD DKEICVI;I TGC DH VGYBDCKG ;D ;BEaI EBR;I;S <BDK;G DcTRD<FI DK fgf@;RCIKFD HI *cTG<BEBLK ;DH 0DKFDKICBG ICVDKFBKG= *H THIbG ;D DZDEREBLK EGK DH ^RDEGKFL DH ICFB<FI NRDCGK URQ HBUBFI;G< Q HI< TCDURCI< HD BUTB;BDCGK IaGK;ICS EGUG DCIHG IEG<FRUYCI;GS DK DH D<FR;BG aB<FLCBEG TCDWBG= 'dG< ;D<TR_<S DK fg??S .GCDKG0ICYGKDCG <GHBEBFL IH URKBEBTBG ;D -RDKG< 'BCD< TDCUB<G TICI CDaIEDC <R GYCI IHDXVIK;G HI TG<D<BLK ;D KRDWI BKNGCUIEBLK TCG;REFG ;D DcaIR<FBWI< BKWD<FBVIEBGKD<=*H TD;B;G NRD IEDTFI;G Q HI GYCI HD NRD DKWBI;I I *<TIdI ;GK;D CDIHBbICMI <R HIYGC ;DEGCCDVBC HI< ;DNBEBDKEBI< aB<FLCBEI<= &DEGKGEMI EGUG NIHHI< D BUTDCNDEFG< TCBKEBTIHD< DH

DNDEFG ;D HI HRb <GHICS HI IR<DKEBI ;D BK;BG< QS <GYCD FG;GS DH TGH_UBEG CDFCIFG ;DHNRK;I;GC eRIK ;D 7ICIQ [ERQI NBVRCI ERHUBKIKFD KG D<F\ CDTCD<DKFI;I DK UB GYCI EGUG ;DYMI <DC]= +I WDC<BLK ;DNBKBFBWI ;D +I NRK;IEBLK ;D -RDKG< 'BCD< aIYCMI ;DEGKWDCFBC<D DK RKI ;D HI< BU\VDKD< EGK UIQGC NGCFRKI ;D HI aB<FGCBI ICVDKFBKI=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p@@

'3/,)"0* )%08.*,$'+

"= *+ '24, )%08.*,$'+ )* e8', .',8*+ -+',*#f

.DFG;GHGVMI EBDKFMNBEIS ;GERUDKFIEBLK NDaIEBDKFDS UDFL;BEI Q GY<D<BWIS Yk<^RD;I;D FCI;BEBGKD< GCIHD<S WBIZD< I HG< <BFBG<S CDNDCDKEBI< ;BCDEFI<S DUTHDG ;D NGFGVCINMI<SCDFCIFG<S VCIYI;G<S HBFGVCINMI<S ;D<ECBTEBGKD< Q HBYCG<S FIUYB_K IHDZICGK I -HIKD< ;D HIB;DIHBbIEBLK DcFCDUI D BUTCDVKICGK <R GYCI ;D RK EBDCFG KIFRCIHB<UG= 3ICI -HIKD<TBKFIC UIH DCI TBKFIC ;D UDUGCBI= *K RKI EICFI D<ECBYBL5 [D< KDED<ICBG KG GHWB;IC<D^RD DK DH ICFD ;DH TBKFGC KG <D TRD;D TCGED;DC ZIU\< EGKWDKEBGKIHUDKFD Q <B D<KDED<ICBG BKFCG;REEBLK DK DH ERI;CG ;D FkKBEI<S UIKFG<S <GN\<S CBEI< TGHFCGKI<S FITDFD<SDFE= D< BK;B<TDK<IYHD FDKDC I HI WB<FI D<FG< GYZDFG<===] #DVkK -HIKD< RKI ;D HI< NRKEBGXKD< U\< BUTGCFIKFD< ;D HI TBKFRCI DCI ;GERUDKFIC5 [1 FG;G DHHGS DK IN\K ;D <DCWBC I HIaB<FGCBI Q KG HB<GKZDIC NIKFI<MI<]= *CI GY<D<BWG DK <R Yk<^RD;I ;D UIFDCBIHD< Q DK <RBKWD<FBVIEBLK ;D HG< aDEaG<= 0GUG HG ;DURD<FCI IUTHBIUDKFD <R EGCCD<TGK;DKEBISHHDVIYI IH HMUBFD ;D HG DcI<TDCIKFD DK RKI NCDK_FBEI UIKMI TGC FDKDC KGFBEBI ;D HG<;DFIHHD< U\< MKNBUG<= -HIKD< EGHDEEBGKIYI NGFGVCINMI< ^RD BKFDVCICGK <R IC<DKIH FD<FBXUGKBIH DKFCD fji? Q fjg@= *cB<FD DK <R EGCCD<TGK;DKEBI IUTHBI DWB;DKEBI ;D HIBUTGCFIKEBI ^RD -HIKD< HD EGKNDCMI I HI NGFGVCINMI= :x>

' TICFBC ;D fjiA -HIKD< ;BG BKBEBG I <R DFITI ;D ECDIEBLK UB< BKFDK<I D BUTGCFIKFD=0CDL KRUDCG<I< GYCI< aB<FLCBEI<S V_KDCG ^RD ;D<BVKL ;D HG< [VCIK;D< I<RKFG<]S DK;GK;D VHGCBNBEI HI< VD<FI< ;D HI BK;DTDK;DKEBI Q DH TCGED<G CDTRYHBEIKG ;DH 8CRVRIQS0aBHD Q 'CVDKFBKI= +G< LHDG< TG<DDK RKI BKKDVIYHD BUTGCFIKEBI BEGKGVC\NBEI Q <BUXYLHBEI= *H ICFB<FI ERUTHBL I<M EGK RK IUYBEBG<G THIK ECDIK;G HI< TCBUDCI< BU\VDKD< ;DHI aB<FGCBI KIEBGKIH Q DH EBEHG U\< EGUTHDFG ;D HI BEGKGVCINMI CBGTHIFDK<D= )D<EICFL HIIKFBVuD;I; aDCGBEI EGUG UDF\NGCI aB<FLCBEI Q EGKEBYBL DH V_KDCG EGUG RKI UIKDCI;D EITFIC HI aB<FGCBI EGKFDUTGC\KDI ;D <R TIM< G ;D HG< TIM<D< WDEBKG<= '<M <D BK<ECBYBLDK HI WB<BLK IUTHBI;I ;DH V_KDCG aB<FLCBEG I;GTFI;I TGC IHVRKG< ICFB<FI< ;DH <BVHG`"`= )D UIKDCI URQ EHICI HG D<TDEBNBEL DK <R D<ECBFG [.DUGCBI <GYCD DH ERI;CG *HeRCIUDKFG ;D HG< pp] DK DH ERIH <DdIHI ^RD KG KDED<BFIYI CDTCD<DKFIC I &LURHGNRK;IK;G &GUI TICI CDEGC;IC I HG< RCRVRIQG< HI NRK;IEBLK ;D .GKFDWB;DG TGC ;GK-CRKG .IRCBEBG ;D 9IYIHIS Q ^RD DK D<D <DKFB;G DCI U\< kFBH TBKFIC I HG< FCDBKFI Q FCD<GCBDKFIHD< :RKG ;D HG< VCRTG< ;D TIFCBGFI< U\< ;D<FIEI;G< DK HI HREaI RCRVRIQI TGCHI BK;DTDK;DKEBI> ^RD I HG< 'CVGKIRFI< G I HG< !GCIEBG<S Q ^RD KG DCI N\EBH CDEGKGEDCI -GHMWIC KB I #IK .ICFMK WD<FB;G< ;D '^RBHD<=

f= !'-*&S 'HBEBI= [eRIK .IKRDH -HIKD<= +I NGCUIEBLK ;D RK ICFB<FI IUDCBEIKG]= *K5 ''=OO=*H 'CFD ;D eRIK .IKRDH -HIKD<= -RDKG< 'BCD<S 2RK;IEBLK -RKVD Q -GCKS fgghS 3\V<= h?XA?=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p@f

?= '7‰*&%#S OBEFGCBIKG [*H ICFB<FI UDcBEIKG <DdGC )GK 2_HBc 3ICCI]= *K5 &%)&678*9

3&'.3%+","S ";I= +I ECMFBEI ;D ICFD DK ._cBEG DK DH <BVHG `"`= *<FR;BG< Q ;GERUDKFG< """:fjsgXfg@?>= ._cBEGS 8KBWDC<B;I;S "K<FBFRFG ;D "KWD<FBVIEBGKD< *<F_FBEI<S fggsS $GUG """S 3\V<=fiAXfii=

""= 8,' *#0*,' )* +' 0%,q8"#$'S 3%& 2/+"` 3'&&'?

'H ERI;CG ;D 2CIQ -ICFGHGU_ ;D +I< 0I<I<S <BVRBL DH ;D 8KI D<EDKI ;D HI 0GKX ^RB<FI S DcaBYB;G DK HI DcTG<BEBLK ;D fjss= !D I^RM HG ^RD ;D D<FI GYCI ;DEMI RK<DK<IFG ECMFBEG UDcBEIKG5

[8K ZDND D<TIdGH ^RD DKFCI DK RK FDUTHG IbFDEIS Q ^RDS ;D<TR_< ;D UIFIC I <R<UGCI;GCD<S <D ITCGTBI ;D HG ^RD TG<DMIK=== ' TD<IC ;D HI ;BNBERHFI; ;D IVCRTIC RK VCIKKkUDCG ;D NBVRCI< DH ICFB<FI aI <IYB;G <IHBC IBCG<G DK HI EGUTG<BEBLK= *<FI D<EDKICD<TBCI ;DWI<FIEBLK Q <IKVCD= 0IR<I BK;BVKIEBLK Q FDCCGC IH WDCHI <GHIUDKFD= *<I BK;BIUGCBYRK;IS ^RDS ICCGZIK;G RKI UBCI;I HHDKI ;D G;BG Q ;D UBD;G IH UB<UG FBDUTG IHD<TIdGH FBDK;D <R< UIKG< TICI CDEGVDC I <R aBZG URDCFGS D< <RYHBUDS ;D VCIK <DKFBXUBDKFG Q ;D WDC;I;= +I NBVRCI Q HG< I;DUIKD< ;DH EGK^RB<FI;GC D<F\K HHDKG< ;DICCGVIKEBIS Q DK TDCNDEFG EIC\EFDC EGK DH CD<FG ;DH ERI;CG= +I TDC<TDEFBWI D< <GYDCYBISQ I;UBCIYHDUDKFD EGUTCDK;B;Il DH ;BYRZG <RUIUDKFD EGCCDEFGS Q EI;I NBVRCI D< RKWDC;I;DCG D<FR;BG ;DH KIFRCIH= '^RDHHI< EICKD< ;DH BK;BG ERQG EI;\WDC QIED IH TBD ;DHVRDCCDCG D<TIdGHS TIHTBFIK IkK ;D ;GHGC TGC HI< aDCB;I< CDEBYB;I<= *H EGHGCB;G D<S TGC;D<VCIEBIS ;_YBHS Q D<FI EBCERK<FIKEBI aIED ^RD DH ERI;CG TBDC;I <R WB;I Q IKBUIEBLK=]

$IH NRD RKG ;D HG< UDZGCD< ERI;CG< ;D HI DcTG<BEBLK ;D I^RDH IdGS Q DH kHFBUG ^RDDZDERFL DH <DdGC 3ICCI TGC DKFGKED<l TRD< DK DKDCG ;D fjsj TICFBL TICI *RCGTIS EGKDH NBK ;D TDCNDEEBGKIC <R< D<FR;BG<S Q EGKFDUTHIC HG< UG;DHG< EH\<BEG<= *<FD WBIZD HGDUTCDK;BL DH ZGWDK ICFB<FI TGC BK;BEIEBLK Q I DcTDK<I< ;DH BHR<FCI;GC ;BCDEFGC ;D HI'EI;DUBIS <DdGC ;GK &GU\K ;D +I<ERC\BKS ^RBDK EGKGEBDK;G HI< KGFIYHD< ITFBFR;D<;D FIK IWDKFIZI;G IHRUKG HD ED;BL VR<FG<G TICFD ;D <R <RDH;GS TICI ^RD TR;BDCI BC ICDEBYBC HI< HDEEBGKD< ;D UID<FCG< DRCGTDG<S Q CDEGVDC HG< TCGWDEaG<G< NCRFG< ^RD <DGYFBDKDK EGK DH DcIUDK ;D HG< CBEG< UR<DG< ;DH WBDZG URK;G=

.DCED; I I^RDH CI<VG ;D VDKDCG<B;I; Q ;D<TCDK;BUBDKFG ;DH <DdGC +I<ERC\BKS TGC;D<VCIEBI KI;I EGUkK DKFCD KG<GFCG<S TR;G DH <DdGC 3ICCI TDCUIKDEDC DK *RCGTIEDCEI ;D EBKEG IdG<S DK ERQG FBDUTG D< ;D ECDDC ^RD aIQI IHEIKbI;G <LHB;G< QTG<BFBWG< I;DHIKFG<= +I< GYCI< ^RD CDUBFBL ;D 3ICM< Q ^RD NRDCGK EGHGEI;I< DK HI<<IHI< ;D HI 'EI;DUBI ;RCIKFD HI TI<I;I DcTG<BEBLKS U\< ^RD WDC;I;DCG< ERI;CG<SUDCDEDK HHIUIC<D YG<^RDZG< Q D<FR;BG< ;DH KIFRCIHS KGFIYHD< TGC EBDCFI KGWD;I; ^RDDK DHHG< <D I;WBDCFD Q TGC HI HBUTBDbI ;DH ;BYRZG Q HI WDC;I; ;DH EGHGCB;G= ';WB_CFI<DDK D<I< EGUTG<BEBGKD< RK EIUYBG ;D D<ERDHI URQ UICEI;GS ^RD D< TCRDYI <DVRCI ;DHG< TCGHGKVI;G< D<FR;BG< Q <DCBI< UD;BFIEBGKD< I ^RD DH <DdGC 3ICCI D<FRWG DKFCDVI;G;RCIKFD <R IR<DKEBI=

' <R HHDVI;I I ._cBEGS DK ;BEBDUYCD ;DH IdG kHFBUGS NRD KGUYCI;G EIFD;C\FBEG ;D;BYRZG ;D GCKIFG Q ;DEGCIEBLK DK HI 'EI;DUBI ;D #IK 0ICHG<l Q I<M DK D<D TRD<FGSEGUG DK GFCG< I ^RD U\< FIC;D HG HHIUDK <R< U_CBFG<S KG D< ;R;G<G ^RD <IYC\ EGKFCBXYRBC ;DYB;IUDKFD IH NHGCDEBUBDKFG ;DH ICFD DKFCD KG<GFCG<= #R ZRWDKFR;S <R BK<FCREEBLK

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p@?

Q FIHDKFGS HI HIYGCBG<B;I; ;D ^RD aI ;I;G TCRDYI< Q DH Dc^RB<BFG VR<FG ^RD EICIEFDCBXbI FG;I< <R< GYCI<S HD IKRKEBIK DK KRD<FCI TIFCBI <LHB;I Q ;RCI;DCI VHGCBI=

"""= *+ 3',$*J, )* +%# !/&%*# S )* '&$8&% ."0!*+*,'p

p= 'CFRCG .BEaDHDKI= #R GYCI Q <R FBDUTG fjipXfjgj= 0ICIEI<S -IKEG "K;R<FCBIH ;D ODKDXbRDHIS fgjgS 3\V<= ggXf@?=

'&$8&% ."0!*+*,' :O*,*98*+'>= *+ 3',$*J, )* +%# !/&%*# :fjgj>=

===*<FR;BG TICI RKI VCIK IHDVGCMIS NBCUI;G DK ZRKBG ;D fjgj RK UD< IKFD< ;D <R URDCFDSD< RKI ;D HI< kHFBUI< GYCI< ;D .BEaDHDKI Q HI ERHUBKIEBLK ;D <R TBKFRCI aB<FLCBEI= &DkKD

I HG< TCLEDCD< ;D HI "K;DTDK;DKEBI DK D<EDKGVCINMI ;D BK<TBCIEBLK KDGEH\<BEIS CGU\KFBEI QIEI;_UBEIS DK DH TDCB<FBHG ;D RK FDUTHG ;D GC;DK EGCBKFBGS FDKBDK;G TGC NGK;G *H 4WBHI=8YBEI I -GHMWIC DK DH EDKFCGS DK HI kKBEI <BHHIS I HI DKFCI;I ;DH 3IKFDLKS Q I <R IHCD;D;GC2CIKEB<EG ;D .BCIK;I Q 'KFGKBG eG<_ ;D #RECD= *K NGCUI <BUYLHBEIS DH DZ_CEBFG HBYDCFI;GCD< HI IUIbGKI ^RD DK YCBG<G EGCEDH TB<I IH HDLK WDKEB;GS DH DZ_CEBFG D<TIdGH= *K TCBUDCTHIKG I HI ;DCDEaIS HI ZGWDK EGK HI YIK;DCIS D< DH <MUYGHG ;D HI KIEBDKFD &DTkYHBEI= OICBG<VCRTG<S TGC <DC IkK U\< D<FR;BI;G<S CDTCD<DKFIK I HG< ZDND< ;D HI< VCIK;D< YIFIHHI<= ';DHIKXFD Q ;D NCDKFDS eG<_ 'KFGKBG 3\Db ITGQI;G IH TD;D<FIH ;D HI D<FIFRIS EDCEI eG<_ 2_HBc &BYI<EGK DH VGCCG NCBVBGS Q .IKRDH 3BIC= *K HI TICFD <RTDCBGC Bb^RBDC;I ;D<FIEI +RB<I 0\EDCD< ;D

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p@p

'CB<UDK;BS ;D YCIbG EGK eRIK -IRFB<FI 'CB<UDK;Bl IYIZG I HI Bb^RBDC;IS DKFCD HG< BKFDHDEXFRIHD<S 'K;C_< -DHHGS DH 0IKLKBVG .I;ICBIVIS OBEDKFD #IHBI<S Q )GKZR\K 7DCU\K &G<EBGS^RD R<IYI TDHREI YHIKEIS DKFCD GFCG<= ,DVCG 3CBUDCG D<F\ <DKFI;G I HI ;DCDEaI ;DH TD;D<XFIH= .\< IFC\<S RKI HHIUI WBWI Q DH aRUG ^RD NHGFI DK DH IBCDS Q IH EDKFCGS RKI OBEFGCBISIHDVGCMI ;D HI VHGCBIS ;DFC\< ;D *H +BYDCFI;GC= *H 3IKFDLK ;D HG< !_CGD< EGUTDK;BI HITBKFRCI aB<FLCBEI WDKDbGHIKI aI<FI <R UGUDKFG 'H BVRIH ̂ RD TICI HI BVHD<BI EIFLHBEI HG aIKaDEaG HG< TBKFGCD< CDHBVBG<G<S ;IC NBVRCI I HG< TDC<GKIZD< TICI aIEDCHG< EGKGEB;G< ;D FG;G<S.BEaDHDKIS <BVRBDK;G HI< BEGKGVCINMI< ;D eRIK +GWDCI Q ;D $GWIC Q $GWICS RYBEI I HG<a_CGD< DK RK 3IKFDLKS NRDCI ;D HI< EIFDVGCMI< ;D FBDUTG Q HRVIC= 3ICFD< ;DH ERI;CG ̂ RD;IXCGK IYGEDFI;I<S D<TDEBIHUDKFD CG<FCG< +I URDCFD <D HHDWIYI I .BEaDHDKI Q _H HG <IYMIS TGCD<G NBCUL DH ERI;CG <BK FDCUBKICHG=

+I TBKFRCI aB<FLCBEI ;DH <BVHG `"` DK ODKDbRDHIS EGKFCBYRQL I NGCUIC HG BUIVBKICBGSI ;D<ICCGHHIC RKI B;DGVCINMIS I FGUIC EGKEBDKEBI ;D <DC KIEBLK Q TGC FIKFGS I EGKNGCXUIC HI B;DKFB;I; KIEBGKIH= '<MS 'CFRCG .BEaDHDKIS TBKFGCS NRD I HI WDb aB<FGCBI;GCSD;REI;GC Q aIVBLVCING=

#LHG FDKMI pA IdG<= ' HI D;I; DK ^RD UREaG< DUTBDbIK QI aIYMI FCBRKNI;G= 3R;GaIEDC UREaG U\<= 3DCGS DK fjgj HI FRYDCERHG<B< KG FDKMI CDUD;BG= +I DKNDCUD;I; ;DH<BVHG CGU\KFBEGS HI UB<UI ^RD UIFL I <R IUBVG 0CB<FLYIH &GZI<S Q IH +BYDCFI;GC #BULK-GHMWICS EGK <R< NBDYCD< Q <R;GCD<S EGK <R FG< BKEGKFCGHIYHDS ;DYBHBFL IH aGUYCD ERQIUDFI DCI EHICIS ERQI WGHRKFI; DCI N_CCDIS ERQI D<FCDHHI HG VRBL I HI VHGCBIS ERQG ;D<FBKGNRD DH FCBRKNG= )GK;D DKWBIYI RK HBDKbG CDEBYMI RK TCDUBG= ,G D< ^RD HG< ZRCI;G<NRDCIK EGUTCI;G<S ^RD .BEaDHDKI NRD<D I;RHIKFDS EGUG IHVRKG< aIK ^RDCB;G ;DEBCSKGS DCI RK aGUYCD ;D FIHDKFG <RTDCBGCS ;D BKFDHBVDKEBI IVR;IS ;D <DK<BYBHB;I; NBKM<BUIS^RD <BDUTCD <RTG HG ^RD ^RB<G Q FCIYIZL TICI EGK<DVRBCHG=

#R< CD<FG< D<F\K DK DH 3IKFDLK ,IEBGKIH= #R CDERDC;G D<F\ DK KG<GFCG<= #R D<TG<I+I<FDKBIS NDCWGCG<I VRIC;L <R UDUGCBIS D aBbG ;D <R WB;I DH ERHFG I RKI GYCI= *HkHFBUG VCIK ERI;CG BKEGKEHR<GS ;GK;D _H KG <D EGHGELS HD CD<DCWI RK TRD<FG= *KFCD HI<EIYDbI< IYGEDFI;I< ;D *H 3IKFDLK ;D HG< !_CGD< D<F\ HI ;D 'CFRCG .BEaDHDKIS DHTBKFGC ;D HI ODKDbRDHI CGU\KFBEI Q aDCGBEI ;D NBKD< ;DH <BVHG `"`=

"O= .%)*+%# 1 &*$&'$%#= +' *`3*&"*,0"' 3&40$"0' )* 8, 3",$%&"O= )* !"#$%&"'= +%# 0%,#$"$81*,$*# )*+ ApS )* ',$%,"% '+"0*h

-BDK TDCFCDEaI;G TICI DUTCDK;DC HI GYCIS QI UD <DKFM U\< NRDCFD= 8K YCDWD TIC_KXFD<B< ;D CDTG<GS UD <BCWBL TICI GCVIKBbIC GFCI <DCBD ;D D<FR;BG< EGK HG< VCRTG< ;DUG;DHG< WBWBDKFD<= OD<FM I HG< UG;DHG< EGK FCIZD< ;D I^RDH FBDUTG= $CIZD< IRF_KFBEG<KG aIYMIl TDCGS EGK HI IQR;I ;D RK <I<FCD DcTDCFG Q D<TDEBIHB<FI DK HI UIFDCBIS aBEDEGKNDEEBGKIC TICI EI;I UG;DHG DH FCIZD I;DERI;G I EI;I TDC<GKIZD= .B D<FR;BG <DEGKWBCFBL DK RK TD^RDdG 0GKVCD<G= +G< VCRTG< ;D UG;DHG< <D RYBEIYIK ;D IERDC;G

h= '+"0*S 'KFGKBG= [+G< 0GK<FBFRQDKFD< ;DH Ap] DK HI <D<BLK KGEFRCKI ;DH ?@ ;D IYCBH=-RDKG< 'BCD<S eRKFI ;D !B<FGCBI Q ,RUB<U\FBEIS fgpAS 3\V<= ?iX?j=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p@h

EGK HI EGUTG<BEBLK Q HG< aIEMI UGWDC Q IEEBGKIC Q aIYHIC EGUG <MS DK CDIHB;I;S D<FRXWBDCIK IEFRIK;G <DCBIUDKFDS DK EIC\EFDC ;D ;BTRFI;G<S DK I^RDHHI E_HDYCD KGEaD ;DH?@ ;D IYCBH= 3R<DS ;DH HI;G ;DCDEaGS I HG< GCI;GCD< !RDCVGS 7RFB_CCDbS 9ITIFIS 9IWIHMIS7GCG<FMIVI Q +IWIB<<DS ^RD aIYHICGK TICI GTGKDC<D IH ITHIbIUBDKFG ;DH TCGQDEFGS;DYIFBDK;G TICI ^RD HI <IKEBLK ;D _<FD NRDCI EI<B BKUD;BIFI=

.\< IHH\ <D ;D<FIEI 2IERK;G 9RWMCMIS TCD<B;DKFD ;D HI '<IUYHDIS ^RD ;DZL DH <BFBIHIH WBED ?ƒS VDKDCIH 2DCC_= 9RWMCMI ITICDED DK IEFBFR; UD;BFIFBWIS DK DH BK<FIKFD DK ^RDaIYHI eRIK 2CIKEB<EG #DVRM vDH [TGDFI ;D HI 0GK<FBFREBLK]vS ERQI GCIFGCBI WBYCIKXFDS <GKGCI Q ;DEB<BWI EGKWDKED I HG< U\< CDIEBG< Q GYFBDKD HI UIQGCMI ^RD EGK<IVCI HI<IKEBLK ;DH TCGQDEFG=

!D EGHGEI;G I HG< ;BTRFI;G< ;D UG;G ^RD TRD;I W_C<DHD< ;D NCDKFDS TCD<DKF\K;GX<DUD DH aDCUG<G UGFBWG TBEFLCBEG ;DH EGKFCIHRbS NDHBb EGKFCI<FD ^RD ;D<FIEI HG< THIXKG< DK ^RD D<F\K HI< NBVRCI<= 'H TCD<B;DKFD HG aD EGHGEI;G ;D D<TIH;I<S ;IK;G I<M IHD<TDEFI;GC RKI BUTCD<BLK <RVD<FBWI Q RKI KGFI ICFM<FBEI ;D BKFDCTCDFIEBLK GCBVBKIH= !DCGFG EGK DH WBDZG UGH;D ^RD <D WD EGK NCDERDKEBI DK ERI;CG< ;D D<FI MK;GHD5 HIEG<FRUYCD ;D RYBEIC HG< <BFBIHD< ;D aGKGC IH NCDKFD Q DK DH NGK;Gl EG<FRUYCD ^RDGYHBVI IH TBKFGC I <IECBNBEIC I HG< ;DU\< TDC<GKIZD< ;D <R ICVRUDKFGS EGHGE\K;GHG< ;DD<TIH;I<S ;BWB;B;G< DK ;G< VCRTG< HIFDCIHD< TGC RK EIUBKG EDKFCIH ^RD HHDVIS DK TDC<XTDEFBWIS YI<FI DH D<FCI;G ;D HI 3CD<B;DKEBI= 1G KG aD ^RDCB;G <RZDFICUD I D<D IUIKDXCIUBDKFG TGC^RD EGK<B;DCG ^RD D< HI I<IUYHDI HI ^RD D<F\ DK IEEBLK Q ^RD <GK HG<;BTRFI;G< HG< ^RD ;DYDK WDC<D DK <R< IEFBFR;D< Q DK <R< VD<FG<S UBDKFCI< DH TCD<B;DKXFD <D EGKECDFI I D<EREaIC= ,IFRCIHUDKFD ^RD D<FG UD EGHGEL ;DHIKFD ;D RKI FICDIFDCCBYHDS EITIb ;D TGKDC I TCRDYI IH TBKFGC CDFCIFB<FIS TCRDYI ^RDS EGK UG;D<FBI TDCGEGK DH GCVRHHG KIFRCIH ;D ^RBDK ZR<FBNBEI <R D<NRDCbGS ECDG aIYDC ;GUBKI;G= #B UREaI<;BNBERHFI;D< <D UD TCD<DKFICGKS UD TICDED ^RD HI DFITI NBKIHS HI ;D HG< CDFCIFG<S NRD HIU\< IC;RI Q HI U\< ;BNMEBH ;D WDKEDC=

,G UDKG< ;BNBERHFG<I UD CD<RHFL HI Yk<^RD;I ;D UG;DHG<= ,DED<BFIYI FBTG< ;D<DUDZIKbI NB<GKLUBEI Q FIUYB_K ;D B;_KFBEG WGHRUDK= *KEGKFC_ IHVRKG< ;D TICDEB;GFIK KGFIYHD EGK UB< a_CGD<S ^RDS I WDED<S WD<FB;G< I HI UG;I ;D <R FBDUTGS I<GUYCIXYIK TGC <R <DUDZIKbI= 3DCG HI FICDI ;D HI <DHDEEBLK NRD FIUYB_K NIFBVI;GCI Q I HI WDb;DHBEI;I= 3G;CMI EGKFIC UREaG< EI<G<S IEDCEI ;D HI< TDCBTDEBI< ^RD ;DYM EGCCDC TICIDKEGKFCIC UG;DHG<= 0GKFIC_ RK DTB<G;BGx "YI QG DK RK FCIKWMI ERIK;GS ;D TCGKFGSDKEGKFC_ I RK <DdGC ;D<EGKGEB;GS ERQG I<TDEFG UD I<GUYCL TGC <R DcFCIGC;BKICBI<DUDZIKbI NM<BEI EGK RKG ;D HG< TDC<GKIZD< ;D UB ERI;CG= *H EIYIHHDCG ;D<EDK;BL ;DHFCIKWMI Q QG <DVRM FCI< _H TICI D<FR;BICHG RK CIFG U\<= .ICEaIYI C\TB;IUDKFD Q QG;B<ECDFIUDKFD HG <DVRMI= *KFCL DK RKI EI<I= +G D<TDC_= #IHBL Q IH <IHBC GY<DCWL UBTCD<DKEBIS ECDQDK;GS <BK ;R;IS ^RD NRDCI IHVkK <RZDFG <G<TDEaG<G= .D NRB= 'H TGEGFBDUTGS TGC RKI CICI EI<RIHB;I;S D<FD EIYIHHDCG UD NRD TCD<DKFI;G= +D DcTHB^R_ DHUGFBWG ;D UB [TDC<DEREBLK]= )D U\< D<F\ ;DEBC ^RD FRWD DK D<FD EIYIHHDCG RK UG;DHGDcEDHDKFDS TRD< TG<L ;D<BKFDCD<I;IUDKFD TICI DH ERI;CGx *CI DH BKVDKBDCG 'KFGKBG&D<FIVKGS ;D VCIK TICDEB;G EGK 2IERK;G 9RWBCMI=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p@A

0'36$8+% )/0".%+' *#08+$8&' 0%,.*.%&'$"O' 1 +' ,8*O'

".'7*, 8&-','

f= ",$&%)800"J,

8KG ;D HG< FDUI< ;D BKWD<FBVIEBLK ^RD aI WDKB;G FGUIK;G NRDCbI DK HI kHFBUI;_EI;IS BKEGCTGC\K;G<D EGUG TICFD BUTGCFIKFD ;DKFCG ;D HI aB<FGCBI ;DH ICFD BYDCGXIUDCBEIKG D< DH ;D HI D<ERHFRCI EGKUDUGCIFBWIS FIKFG DK <R NIEDFI RCYIKI EGUG NRKDXCICBI= *H ;B<ERC<G ^RD <G<FBDKD D<FI< CDIHBbIEBGKD<S <GYCD FG;G HI< ;D EIC\EFDC RCYIKGS<RDHD TCD<DKFIC<D DK EGKKBWDKEBI EGK HG< ULWBHD< D B;DGHGVMI< ^RD <R<FDKFICGK HITBKFRCI ;D aB<FGCBIS IKIHBbI;I DK DH EITMFRHG IKFDCBGCS DK FIKFG NRD RKI ;D HI< UG;IHBX;I;D< RFBHBbI;I< TGC DH TG;DC TICI <DKFIC HI< YI<D< ;D HG< ;B<ERC<G< ^RD HD< BKFDCD<IYIBUTGKDCS WBKERHIK;G <R< IEEBGKD< Q <R< BEGKGVCINMI< I HI aB<FGCBI TCDF_CBFI=

'H BVRIH ^RD WBUG< TRD< DK HI< UIKBND<FIEBGKD< TBEFLCBEI<S HI DCDEEBLK ;D UGKRXUDKFG< <BVKBNBEL HI TG<BYBHB;I; ;D FCIbIC DK HI< EBR;I;D< WDC;I;DCG< [HBYCG< IYBDCFG<];D HI< aB<FGCBI< KIEBGKIHD<S I FCIW_< ;D HI< ERIHD<S Q <BVRBDK;G CDEGCCB;G< <BUYLHBEG<TGC HG VDKDCIH YI<FIKFD D<TDEBNBEI;G<S <D NRD BUTGKBDK;G ;D<;D HG< VGYBDCKG< RKIUIKDCI ;DNBKB;I ;D [HDDC] HI aB<FGCBIS <GYCD FG;G ;D<;D HI _TGEI ;D HI "K;DTDK;DKEBISEGK HI BKIRVRCIEBLK ;D UGKRUDKFG< ^RD FRWBDCGK I HG< a_CGD< ;D HI *UIKEBTIEBLKEGUG TCGFIVGKB<FI<S aI<FI HHDVIC I HI< TCGTBI< D<FIFRI< ;D HI< IRFGCB;I;D< ;DH UGUDKXFG= %FCI WDb D< W\HB;G DH DZDUTHG ;DH ;BEFI;GC WDKDbGHIKG 7RbU\K -HIKEGS ^RBDK KG;R;L DK aIEDC<D EGK<FCRBC D BKIRVRCIC <R TCGTBG UGKRUDKFG DERD<FCDS I HI UIKDCI ;DRK ,ITGHDLK UG;DCKGS ZRKFG I HG< TCLEDCD< ;D HI "K;DTDK;DKEBI= *<D UGKRUDKFGaIYCMI ;D <DC ;DCCBYI;G TGC <R< EGKFCICBG<S HRDVG ;D <DC ITICFI;G ;DH TG;DC=

+I [UGKRUDKFIHBbIEBLK] ;D 'U_CBEI IHEIKbL TRD< RKI BUTGCFIKEBI <GEBIH ^RD KG;DYD <G<HIQIC<DS EGKWBCFB_K;G<D HG< UGKRUDKFG< DK aBFG< RCYIKG< CDNDCDKEBIHD<S EIXC\EFDC ^RD IRK TDCWBWD IRK^RD IFDKRI;Gl DK <R UGUDKFG ERUTHBDCGK TITDH ;D CDHDXWIKEBIS KG <GHIUDKFD DK HI NIb RCYIKI <BKG FIUYB_K DCBVB_K;G<D DK RKG ;D HG< ULWBHD<;D NBD<FI EMWBEI U\< BUTGCFIKFD<= *K D<FD <DKFB;GS HI BKIRVRCIEBLK ;D HG< UGKRUDKFG<SEGK IEFG< <BKVRHICD< Q ;D EIC\EFDC TIFCBLFBEGS ;B<ERC<G< IHR<BWG< DK HG< ^RD <D DK<IHX

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p@i

bIYI HI NBVRCI ;DH CDTCD<DKFI;G vKG DCI aIYBFRIH BKEHRBC DK HG< UB<UG< TIHIYCI< <GYCDDH ICFB<FI I ^RBDK HD aIYMI EIYB;G HI UIFDCBIHBbIEBLK ;D HI D<FIFRIvS EGUG I<BUB<UG HG<aGUDKIZD< ^RD <D CDIHBbIYIK DK FGCKG I HG< UB<UG< DK HI< NDEaI< BK;BEI;I< DK D<TDXEBIH HG< IKBWDC<ICBG<S UICEICGK RKI ;D HI< TIRFI< ;D HI aB<FGCBI <GEBIH ;D HI< KRDWI<KIEBGKD<=

2RDCGK TRD< HG< VGYBDCKG< ^RBDKD< THIKBNBEICGK D<FG< ;B<ERC<G< aB<FLCBEG< I FCIW_< ;DHI DCDEEBLK ;D D<FIFRI<l QI EBFIUG< DH DZDUTHG WDKDbGHIKGS TDCG BK;R;IYHDUDKFD aIQ ̂ RD<DdIHIC EGUG DH U\< ;D<FIEI;G DH 3I<DG ;D HI &DNGCUIS DK ._cBEGS ERQI UGKRUDKFIHBbIXEBLK NRD TCGUGWB;I DK DH kHFBUG ERICFG ;DH ̀ "` TGC DH TCD<B;DKFD 3GCNBCBG )MIb= *H EGKZRKFGKG <D THIKFDL EGUG RKI KICCIEBLK EDCCI;I <BKG TCGEHBWD I <DC BKECDUDKFI;I EGK DH TI<G ;DHFBDUTGS EGUG EGKECDFIUDKFD GERCCBL I HG HICVG ;DH <BVHG ̀ ` Q aI<FI KRD<FCG< ;MI<= *K RKITCBUDCI NI<D <D NRDCGK <RED;BDK;GS ;D CGFGK;I DK CGFGK;IS RKI <DCBD ;D TDC<GKIZD< <BVKBXNBEIFBWG<S RKB;G< I FCIW_< ;D RKI ;GYHD HMKDI ;D TDC<GKIZD< CDTCD<DKFIFBWG< ;D HG< ;B<FBKFG<*<FI;G< ;DH TIM<S I ;G< TGC *<FI;GS RYBEI;GS 0CB<FLYIH 0GHLK Q0RIRaF_UGES BKIRVRC\K;G<D DK fgf@ HI 0GHRUKI ;D HI "K;DTDK;DKEBI= 3ICI 3GCNBCBG DH;B<ERC<GS <DVkK <DdIHI HI aB<FGCBI;GCI ODCLKBEI 9\CIFDS FDKMI <R TRKFG ERHUBKIKFD DK DH

0I<FBHHG ;D 0aITRHFDTDES CD<B;DKEBI ;DH TCGTBG TCD<B;DKFDS EGUG S fgf@=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p@s

KRDWG< UGKRUDKFG<S ;D<FIEIK;G HG< DERD<FCD<S FIUYB_K DK CGFGK;I<S ;D -GHMWIC Q #IK.ICFMKS IUTHBIK;G I<M HI< UBCI;I< ;D<;D RKI KICCIEBLK KIEBGKIH I GFCI ;D EIC\EFDC U\<IUDCBEIKG=

+I IKFD< UDKEBGKI;I D<FIFRI ;D 0ICHG< "OS GYCI ;DH WIHDKEBIKG .IKRDH $GH<\SIC^RBFDEFG Q D<ERHFGC CD<TGK<IYHD ;D HG< TCBUDCG< TI<G< ;D HI &DIH 'EI;DUBI ;D #IK0ICHG< ;D ._cBEGS NRK;I;I DK fsjfS D<S I;DU\< ;D RKG ;D HG< UGKRUDKFG< ICFM<FBEIXUDKFD U\< <BVKBNBEIFBWG< DK DH EGKFBKDKFDS RKI ;D HI< GYCI< ^RD U\< WBEB<BFR;D< WBWBLDK <R DcB<FDKEBIS CDEGVB;I< DK DH HBYCG ;D *KCB^RD #IHIbIC !MZIC Q !ICG FBFRHI;G [+G<FCGFD< ;DH 0IYIHHBFG]l IHHM CDHIFI D<FD IRFGC HG< fh FCI<HI;G< ^RD <RNCBL HI D<FIFRI aI<FI<R HGEIHBbIEBLK IEFRIHS EGUG I<BUB<UG HI< WDED< ^RD <D <IHWL ;D HI NRK;BEBLK= *HTDC<GKIZD ^RD CDTCD<DKFIS DH CDQ D<TIdGH 0ICHG< "OS KG DCI ZR<FIUDKFD KB RK TDC<GKIZD<GYCD<IHBDKFD Q UDKG< YBDK WB<FG NRD FCI< HI "K;DTDK;DKEBI ;D fjf@ DK ^RD EI<B FG;GHG D<TIdGH EGUDKbL I WDC<D EGK GZG< URQ ECMFBEG<= *H TI<G ;DH FBDUTG NRD KDVIK;G HI<BVKBNBEIEBLK GCBVBKIH ;DH UGKRUDKFGS FIKFG ^RD NRD CDYIRFBbI;G TGTRHICUDKFD EGUGDH [0IYIHHBFG] :I<M D< EGKGEB;I HI D<FIFRI>S Q TGEG< FBDKDK TCD<DKFD ^RD <D FCIFI ;D0ICHG< "O= ' HI TICS <R HGEIHBbIEBLK IEFRIHS UBCIK;G IH 3IHIEBG ;D HI .BKDCMI DK HIEBR;I; ;D ._cBEGS GYCI FIUYB_K ;D $GH<\S VDKDCI RKI KRDWI HDEFRCI <BUYLHBEI DK HI^RD TCDWIHDED HI NBVRCI ;DH ICFB<FI <GYCD HI ;DH CDTCD<DKFI;GS [<IHW\K;G<D] I<M HI GYCIICFM<FBEI ;D HI< NCDERDKFD< BKBEBIFBWI< ;D CDFBCG ;DNBKBFBWG ;DH UGKRUDKFG= 'HVG ^RDFIUYB_K <RED;D EGK DH 0GHLK ;DH 3I<DG ;D HI &DNGCUIS <RZDFG I HI< UIKBND<FIEBGKD<IKFBEGHGKBIHB<FI< ^RD CDHBVBG<IUDKFD <D TCG;REDK FG;G< HG< f? ;D GEFRYCDS DK ^RD HID<FIFRI <RDHD <DC IVCD;B;I=

.',8*+ $%+#4= .%,8.*,$% ' 0'&+%# "O= ./`"0%S fj@p=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p@j

3ICI IKIHBbIC HG< ;BNDCDKFD< FDUI< ;D HI D<FIFRICBI UGKRUDKFIH CDERCCBCDUG< I RKI;BWB<BLK <BUBHIC I HI RFBHBbI;I EGK UGFBWG ;DH IK\HB<B< ;D HI TBKFRCI ;D aB<FGCBI= ODCDUG<TRD< I^RDHHI <DdIHI;I BUTGCFIKEBI ^RD IHEIKbICGK HG< UGKRUDKFG< I 0CB<FLYIH 0GHLKDK DH EGKFBKDKFD IUDCBEIKG Q <R< ;BNDCDKFD< BEGKGVCINMI<S IHEIKbIK;G I FCIW_< ;D DHHI<RKI BUTGCFIKEBI <GEBIH UIQGC ^RD HI ^RD <D TCG;RZG EGK HI< EGUTG<BEBGKD< TBEFLCBEI<=#DdIHICDUG< I<BUB<UGS Q TCDWBIUDKFD TICI D<FIYHDEDC I<M RK GC;DK ECGKGHLVBEG YI<IX;G DK HG< TDCBG;G< aB<FLCBEG< CDTCD<DKFI;G<S HI DCDEEBLK ;D D<FIFRI< ;D TDC<GKIZD< ;DHURK;G BK;MVDKI TCDaB<T\KBEG= $CI< 0GHLKS WDCDUG< EGUG NRDCGK <RED;B_K;G<D DK HG<;B<FBKFG< TIM<D< HG< UGKRUDKFG< I GFCG< TDC<GKIZD< ;DH )DERYCBUBDKFG Q EGK^RB<FI;DH EGKFBKDKFDS D<FG< kHFBUG< <GYCD FG;G DK DH <BVHG ``S ERIK;G QI HG< CD<^RDUGCD<aB<FLCBEG< EGK CD<TDEFG I *<TIdI NRDCGK IFDKR\K;G<D DK EBDCFI UD;B;IS TDCUBFBDK;GD<FG< DUTHIbIUBDKFG<= ,RDWIUDKFD HI VD<FI BK;DTDK;DKFB<FI <D EGKWDCFBC\ DK DH VCIKFDUI ;D UGKRUDKFIHBbIEBLKS FIKFG ;D<;D RK TRKFG ;D WB<FI VDKDCIHBbI;GCS D< ;DEBC DHaGUDKIZD IH aDEaG aB<FLCBEG DK <M EGUG I HG< ;BNDCDKFD< TCLEDCD<= 2BKIHUDKFD IHVRKI<IHR<BGKD< I HI< D<FIFRI< ;D TDC<GKIZD< EGKFDUTGC\KDG<=

?= +%# 3*&#%,'e*# )*+ .8,)% ",)67*,' 3&*!"#34,"0%

+I EGK<GHB;IEBLK ;D HI< aB<FGCBI< KIEBGKIHD<S DK HI< ^RD HI< GYCI< ;D ICFD ZRVICGKRK TITDH NRK;IUDKFIH <GYCD FG;G ;D<;D RK TRKFG ;D WB<FI ;B;\EFBEGS aRCVL DK DHTI<I;G TCDaB<T\KBEG TICI <DKFIC HI< YI<D< ;D RKI DWGHREBLK ^RD HHDVIYI I <R TRKFGERHUBKIKFD DK HI EGKFDUTGCIKDB;I;= *H TCGED<G KG NRD BVRIH DK HG< ;BNDCDKFD< TIM<D<SKB TGC HI BUTGCFIKEBI ^RD <D ;BG DK IHVRKG< CD<TDEFG ;D GFCG<S KB DK HI ECGKGHGVMI ;DHG< DUTHIbIUBDKFG<= ._cBEGS <GYCD FG;GS Q 3DCkS HG< ;G< VCIK;D< EDKFCG< ;DH URK;GTCDaB<T\KBEGS FGUICGK HI ;DHIKFDCI ;D RK TCGED<G ^RD FRWG <R EGCCDHIFG DK GFCG<TIM<D< EGUG 0aBHD G 8CRVRIQS TGC EBFIC <GHIUDKFD ;G< EI<G<=

*K DH EI<G UDcBEIKGS I^RDHHI TG<FRCI ;DNBKB;I TGC IHVRKG< aB<FGCBI;GCD< FCI< HI"K;DTDK;DKEBIS ;D HBVIC DH TI<I;G TCDEGHGUYBKG EGK HI DUIKEBTIEBLKS [GHWB;IK;G]HG< FCD< <BVHG< ;D ;GUBKIEBLK aB<T\KBEI EGUG <B <D FCIFI<D ;D RK G<ERCG TIC_KFD<B<STGFDKEBL HI ECDIEBLK ;D BEGKGVCINMI< YI<I;I< DK I^RDHHI< _TGEI< HDZIKI<= *H UGUDKFGU\< <BKVRHIC aIYCMI ;D GERCCBCS DK ERIKFG I HG< UGKRUDKFG<S EGK HI BKIRVRCIEBLK ;D HID<FIFRI ;D 0RIRaF_UGE :fjjs> DK DH 3I<DG ;D HI &DNGCUIS GYCI ;DH D<ERHFGC .BVRDH,GCDdIS ;GK;D HG U\< ;D<FIEI;G NRD BK;R;IYHDUDKFD HI IC^RBFDEFRCI ;DH TD;D<FIHCDIHBbI;G DK D<FBHG KDGTCDaB<T\KBEG <DVkK ;B<DdG ;DH BKVDKBDCG 2CIKEB<EG .= eBU_XKDbS EGK<GHB;IK;G D<FD D<FBHG aB<FGCBEB<FI TCGTBIUDKFD IUDCBEIKG= *K HI GYCI FCIYIZIXCGK GFCG< ICFB<FI<S DKFCD DHHG< DH D<ERHFGC 7IYCBDH 7RDCCIS IRFGC ;DH CDHBDWD ;DH <RTHBEBG;D 0RIRaF_UGE ^RD IdG< ;D<TR_< <DCWBCMI ;D CDNDCDKEBI I +DIK;CG "bIVRBCCD TICI <RTBKFRCI aGULKBUI=

*K GFCG< TIM<D< <D DCBVBDCGK UGKRUDKFG< ;D FDU\FBEI <BUBHICS TGC HG VDKDCIH U\<UG;D<FG< DK ERIKFG I <R <BVKBNBEIEBLK ICFM<FBEIS EGUG DH 0IRTGHBE\K CDIHBbI;G TGC,BEIKGC 3ICCI DK 0aBHDS HI< D<FIFRI< ;D HG< BK;BG< 9ITBE\K Q 'YIQRY\S GYCI< ;D,BEIKGC Q eRIK +RB< -HIKD<S CD<TDEFBWIUDKFDS DK DH 8CRVRIQS Q HI ^RD WDK;CMI I <DC HIEGKFCITICFB;I ;D 0RIRaF_UGE DK DH 3DCkS DH UGKRUDKFG I .IKEG 0ITIES GYCI ;D)IWB; +GbIKGS BKIRVRCI;I DK +BUI DK fg?iS RYBEI;I FIUYB_K <GYCD TD;D<FIH KDGX



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p@g

2&',0"#0% .= e"./,*9 :3*)*#$'+> 1 ."78*+ ,%&*P' :*#$'$8'>=.%,8.*,$% ' 08'8!$/.%0= ./`"0%S fjjs=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pf@

TCDaB<T\KBEGS FCITDbGB;IHS BK<TBCI;G DK HG< HDKVRIZD< IC^RBFDEFLKBEG< ;D HI< ERHFRCI<TCDEGHGUYBKI< ;D I^RDH TIM<= 3G;CMIUG< IVCDVIC DK ._cBEG HI BKIRVRCIEBLKS DK fjgfS;D HI< D<FIFRI< ;D GFCG< ;G< TDC<GKIZD< ;DH URK;G BK;MVDKIS 'aRMbGFH D "bELIFHS GYCI<;D 'HDZIK;CG 0I<ICMK U\< EGKGEB;I< EGUG HG< ["K;BG< WDC;D<] ^RD TGC <R FIUIdG QNIEFRCI NRDCGK TCGKFG ;B<ERFB;I< Q FCI<HI;I;I< IH 3I<DG ;D HI OBVI=

p= 0&"#$J-'+ 0%+J,S +%# )*#08-&")%&*# 1 +%# 0%,q8"#$')%&*#

)D FG;G< HG< TDC<GKIZD< CDHIEBGKI;G< EGK HI TCD<DKEBI D<TIdGHI DK 'U_CBEI D<BK;R;IYHDUDKFD 0CB<FLYIH 0GHLKS DK <R EIC\EFDC ;D [;D<ERYCB;GC] ;DH ,RDWG .RK;GSDH ^RD U\< NGCFRKI Q IEDTFIEBLK aIYCMI ;D FDKDC DK FBDCCI< IUDCBEIKI<= ' TICFBC ;DHUGUDKFG ;D DCDEEBLK ;DH ^RD <D EGK<B;DCI TCBUDC UGKRUDKFG I 0GHLK DK 'U_CBEIS DHCDIHBbI;G TGC DH BFIHBIKG #IHWIFGCD &DWDHHB D BKIRVRCI;G DK +BUI DK fji@S HG< UB<UG<<D NRDCGK <RED;BDK;G <BK <GHREBLK ;D EGKFBKRB;I;= *H ;D &DWDHHB BK<FIHL RKI ;D HI<BEGKGVCINMI< ^RD WDUG< ITICDEDC U\< TCGNR<IUDKFD5 0GHLK ITICDED ;D TBDS ZRKFG IHVHGYG FDCC\^RDGS EGHGE\K;G<D ZRKFG I _HS ;D CG;BHHI<S HI NBVRCI ;D HI BK;MVDKI DUTHRUIX;I ^RD IHDVGCBbI I 'U_CBEIS IYIK;GKIK;G <RUB<IUDKFD HI< NHDEaI< Q IYCIb\K;G<D IRKI ECRb= *<FI WBKERHIEBLK I HI DWIKVDHBbIEBLK NRD RKI ;D HI< TIRFI< ^RD TDCUBFBLRKI U\< N\EBH IEDTFIEBLK ;D D<FG< UGKRUDKFG<= *<FI UB<UI BEGKGVCINMI HI WDCDUG< DKDH UGKRUDKFG I 0GHLK ^RD ;G< IdG< ;D<TR_<S DK fji?S <D BKIRVRCL DK HI EBR;I;KIFIH ;DH ;D<ERYCB;GCS 7_KGWIS DK DH ^RD &DWDHHB NRD IRFGC ;D RKG ;D HG< CDHBDWD<=%FCG UGKRUDKFG EGKGEB;G ^RD <BVRD D<FI< TIRFI< D< DH ;D 0ICFIVDKI ;D "K;BI<S DK0GHGUYBI=

+I TCD<DKEBI ;DH VHGYG FDCC\^RDG DK HG< UGKRUDKFG< I 0GHLK D< UGKD;I EGCCBDKXFDS <BDK;G TRD< RKG ;D HG< IFCBYRFG< ^RD <D EGK<B;DCICGK EI G DH ;D GFCGBFIHBIKGS 'KFGKBG -GbbIKGS DK .GKFDWB;DG :BKIRVRCI;G DK fg?s>= )D ERIH^RBDC UIXKDCI aIQ WICBIEBGKD< <BVKBNBEIFBWI<S EGUG TGC DZDUTHG HI BUIVDK ;D 0GHLK <G<FDKBDKX;G RKI YIK;DCI EGUG <D WD DK DH ;D<FIEI;G UGKRUDKFG DUTHIbI;G DK HI HGEIHB;I;TRDCFGCCB^RDdI ;D .IQIVuDbS DK fjgi ERIK;G HI B<HI IRK D<FIYI YIZG HI FRFDHI D<TIXdGHIS GYCI ;D 'KFGKBG 0GHH B 3MS EIFIH\K ^RD ;D<ICCGHHICMI YRDKI TICFD ;D <R EICCDCID<ERHFLCBEI DK 0aBHD= *<FI GYCI VRIC;I <DUDZIKbI< EGK HI ^RD <D DKERDKFCI DK .IX;CB;S CDIHBbI;I TGC eDCLKBUG #RdGH <GYCD TD;D<FIH ;B<DdI;G TGC 'CFRCG ._HB;I :fjjA>=*K 3RDCFG &BEG ;D<FIEI FIUYB_K DH BKIRVRCI;G DK fjg?S GYCI ;DH BFIHBIKG 'EaBHHD0IKD<<IS DK DH ^RD IH BVRIH ^RD DH kHFBUG <DdIHI;GS HI D<FIFRI ;D 0GHLK ITICDEDRYBEI;I <GYCD RKI IHFI EGHRUKI ;D CI<VG< EH\<BEG<=

0GUG EGUDKFIUG< HMKDI< ICCBYIS HI< NBVRCI< ;D HG< EGK^RB<FI;GCD< D<TIdGHD< KGNRDCGK ;D N\EBH BKEGCTGCIEBLK I HG< BUIVBKICBG< KIEBGKIHD< Q IUDCBEIKG< ;B<TDC<G< DKHI< ;B<FBKFI< EBR;I;D< ;DH EGKFBKDKFD= #B YBDK 0GHLK :G DK DH EI<G ;D ._cBEGS NCIQ-ICFGHGU_ ;D HI< 0I<I<> FRWBDCGK RKI IEDTFIEBLK EI<B BKFIEaIYHDS DH CD<FG ;D HG<TDC<GKIZD< WBKERHI;G< I *<TIdI FIC;ICGK UREaI< ;_EI;I< DK <DC TCGTRD<FG< TICIUGKRUDKFIHBbICHG<= #B I NBKIHD< ;DH `"` Q TCBKEBTBG< ;DH `` WDUG< IEFRIC DK 'U_CBEIQ DK 2BHBTBKI< I D<ERHFGCD< D<TIdGHD< ;D HI FIHHI ;D 'VR<FMK qRDCGH G .ICBIKG -DKHHBRX



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pff

.%,8.*,$% ' 0%+J,= 0'&$'7*,' )* ",)"'# :0%+%.-"'>S fjgA=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pf?

e= 0800!"'&"= .%,8.*,$% ' 0%+J,= +' !'-',' :08-'>S fji?=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pfp

'78#$6, q8*&%+= .%,8.*,$% ' +*7'93" 1 8&)',*$'=.',"+' :2"+"3",'#>S fjgp=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pfh

*,&"q8* 3/&*9 0%.*,)')%&= .%,8.*,$% ' 3*)&% )* O'+)"O"'=#',$"'7% :0!"+*>S fgi?=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pfi

',$%,"% &"O'# .*&0')% :'&q8"$*0$%> 1 *,&"q8* '+0"'$" :*#08+$%&>=0%+8.,' )* +' ",)*3*,)*,0"' :)*$'++*>= ./`"0%S fgf@=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pfs

*$$%&* `".*,*#= .%,8.*,$% ' +' ",)*3*,)*,0"'=#†% 3'8+% :-&'#"+>S fg??=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pfj

')'.% $')%+","= .%,8.*,$% ' -%+6O'&= +".' :3*&r>S fjAg=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pfg

*K ERIKFG I #IK .ICFMKS DH TCBUDC UGKRUDKFG EGKGEB;G NRD GYCI ;D RK D<ERHFGCNCIKE_< ;D <DVRK;I NBHIS eG<DTaX+GRB< )IRUI<S BKIRVRCI;G DK fji? DK -RDKG< 'BCD<lIH IdG <BVRBDKFD <D DUTHIbL RKG <BUBHICS EGK HBVDCI< WICBIKFD<S DK #IKFBIVG ;D 0aBHD=0RCBG<IUDKFD DH UG;DHG ;D )IRUI< aIYCMI ;D VGbIC ;D RKI NGCFRKI BUTDK<I;IS Q ITICFBC ;D RK <GYCDUGH;DI;G CDIHBbI;G DK HI 'CVDKFBKIS <D NRDCGK CDIHBbIK;G EGTBI<TGC DKEICVG ;D GFCI< EBR;I;D< ;DH TIM< Q ;DH DcFCIKZDCGS ^RD CD^RDCMIK FDKDC <R [#IK.ICFMK] DERD<FCD= #IKFI 2DS 0GCCBDKFD< Q .DK;GbIS DK DH TCBUDC HR<FCG ;DH `` NRDCGKHI< TBGKDCI< DK FIH <DKFB;GS Q ;D<;D D<D UGUDKFG <RCVBDCGK ERD<FBGKIUBDKFG< DKFGCKG I HI EIHB;I; D<F_FBEI ;D HI D<FIFRI Q HI ITICDKFD KDED<B;I; ;D CDTCD<DKFIC IHa_CGD ;D D HREDK aGQ EGTBI ;D ;BEaG UGKRUDKFG= 8K ;DFIHHDBKFDCD<IKFDS ;D EIC\EFDC <BUYLHBEGS D< ^RD DK WICBG< ;D HG< <BFBG< ;GK;D <D CDTCG;RZGD<FI D<FIFRIS aRYG NBZIEBLK ;D HI< IRFGCB;I;D< TGC DUTHIbICHG ;D FIH UIKDCI ^RD DH;D;G MK;BED ;D #IK .ICFMK ^RD;ICI <DdIHIK;G I HG< 'K;D<S ;D<FBKG VHGCBG<G DK <RVD<FI DUIKEBTI;GCI= 0BR;I;D< EGUG +BUI ^RD;ICGK IH UICVDK ;D D<FI D<FIFRIS DKEICXV\K;G<D I^RM RKI IH WIHDKEBIKG .ICBIKG -DKHHBRCDS BKIRVRCI;I DK fg?f EGK UGFBWG;DH 0DKFDKICBG ;D HI "K;DTDK;DKEBI TDCRIKIS Q ^RDS IRK DERD<FCDS TCGTR<G RK UG;DHG;BNDCDKFD IH ^RD <D aIYMI WDKB;G BUTGKBDK;G=

A= +' *#08+$8&' 28,*&'&"' *, "-*&%'./&"0'

*K D<FI ITCDFI;I <MKFD<B< <GYCD HI D<FIFRICBI EGKUDUGCIFBWI DK DH EGKFBKDKFD IUDXCBEIKGS ;DYDUG< aIEDC IHR<BLK I GFCI< FBTGHGVMI<5 HG< UGKRUDKFG< D<ERHFLCBEG< RYBEIX;G< DK HG< EDUDKFDCBG< IUDCBEIKG<S D<TIEBG< RCYIKG< EGKGEB;G< FIUYB_K EGUG [EBR;I;D<;D HG< URDCFG<]= *H ERHFG I HG< ;BNRKFG< DK HI< EBR;I;D<S <B YBDK DK DH <BVHG `"` <DTCD<DKFI EGK EHICI< BKNHRDKEBI< GEEB;DKFIHD< DK ERIKFG I HG< CBFG< Q DcTCD<BGKD< ICFM<XFBEI<S EGUG WDCDUG<S I<M EGUG FIUYB_K DK HI< bGKI< CRCIHD<S NRD RKI IEFBWB;I; ;DBUTGCFIKEBI QI DK _TGEI< TCDaB<T\KBEI<= #GYCD FG;G DK DH EIUTG aIK TDCWBWB;GS EGKHI< HLVBEI< FCIK<NGCUIEBGKD<S EG<FRUYCD< DK FGCKG I HI URDCFD ^RD ;DYDK TICFD ;D <RCBFRIH I I^RDHHI aDCDKEBI= '^RM KG< BKEHBKICDUG< U\< TGC aIEDC IHVRKG< ITRKFD< <GYCDHI< UIKBND<FIEBGKD< ICFM<FBEI< DK HG< EDKFCG< U\< CDKGUYCI;G< ;DH EGKFBKDKFD=

*UTDbICDUG< <DdIHIK;G HI BUTGCFIKEBI ^RD IHEIKbICGK HG< EDUDKFDCBG< EGUG D<XTIEBG ;D EGKUDUGCIEBLK <GYCD FG;G DK DH `"` Q DK YRDKI TICFD ;DH ``= )DYDUG<TICFBC TICI DKFDK;DC HI KRDWI <BFRIEBLK ;D RKI ;D HI< TIRFI< UICEI;I< TGC HI "HR<FCIXEBLK DK DH <DKFB;G ;D GC;DKIC HI EGK<IVCIEBLK ;D EIUTG<IKFG< DK HI< INRDCI< ;D HIEBR;I;S TGC CIbGKD< ;D D<TIEBG Q <GYCD FG;G TICI DWBFIC HG< TCGYHDUI< ;D aBVBDKD ^RDD<FIYI EIR<IK;G HI <IFRCIEBLK ;D DKFDCCIUBDKFG< DK HI< BVHD<BI< Q <DEFGCD< IHD;IdG<;D<FBKI;G< I D<D NBK= +I VDKDCIEBLK ;D D<FG< KRDWG< D<TIEBG<S HBVI;G I HI B;DI ;D HIFCI<EDK;DKEBI <GEBIH aIYCMI ;D GCBVBKIC RK BKFDC_< D<TDEBIH DK HI TGYHIEBLKS <GYCD FG;GDK HI< NIUBHBI< IEGUG;I;I<S YRCVRD<MI Q TG;DCD< TkYHBEG<S DK FDKDC DK DH EDUDKFDCBGTCD<DKEBI <BUBHIC I HI ^RDS DK WB;IS aIYMIK FDKB;G DK HI< TCGTBI< EBR;I;D<= *<FG HHDWICMII HI DCDEEBLK ;D VCIK;D< UGKRUDKFG< NRKDCICBG< Q EGK<FCREEBLK ;D TIKFDGKD< NIUBXHBICD< TICI HG< ERIHD< <D CDERCCBL I UDKR;G I RK HDKVRIZD IC^RBFDEFLKBEG aB<FGCBEB<FI="KEHR<BWD VDKFD ^RD DK WB;I KG aIYMI VGbI;G ;D RKI TCD<DKEBI <GEBIH ;D<FIEI;IS

"#$"%&# &'(%)""*+ ,%-'./*0 1 2."3. /'%0. 4*//%$# &.5(678

9#0*:;</#'%0 $.'2.0= 2#5'2*5(# . 0.5 2."(35=4'*5#0 .%"*0 >."&*5(%5.?@ ABC7=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p?f

UIKBND<FIYI <R BKFDC_< TGC TI<IC I HI TG<FDCB;I; EGK HG< UIQGCD< aGKGCD<S YIZG RKEGKEDTFG ^RD IHVRBDK <BKFDFBbL DK HI B;DI [WBWBC ;D <DVRK;IS TDCG UGCBC ;D TCBUDCI]=

*K HG ^RD CD<TDEFI I HI< D<ERHFRCI< ;D UIR<GHDG<S TG;DUG< D<YGbIC I^RM IHVRKI<EHIWD< TICI <R DKFDK;BUBDKFG= *K TCBUDC HRVIC <DdIHIC ^RD UREaI< ;D HI< EGUTG<BEBGXKD< D<ERHFLCBEI< ^RD <D aIHHIK DK HG< EDUDKFDCBG< IUDCBEIKG< <GK EGTBI< ;D GYCI< ^RD<D DKEICVIYIK I FCIW_< ;D EIF\HGVG< ;D DUTCD<I< DRCGTDI< <GYCD FG;GS ^RD EBCERHIXYIK EGK TCGNR<BLK DK 'U_CBEI= *<FG TDCUBFMI GYFDKDC YRDKG< TIKFDGKD< D<F\K;IC ITCDEBG< I<D^RBYHD<S <GYCD FG;G TICI I^RDHHI< NIUBHBI< ^RD KG FDKMIK HG< UD;BG< <RNBXEBDKFD< TICI aIEDC RK DKEICVG GCBVBKIH Q kKBEG I RK ICFB<FI ;D TCD<FBVBG= )D IaM ^RDWICBG< EGKZRKFG< FRUYIHD< CD<RHFDK EGTBI< ;D HG< ^RD <D aIHHIK DK HG< VCIK;D< EDUDKXFDCBG< DRCGTDG<S DK D<TDEBIH DH #FIVHBDKG ;D 7_KGWI :"FIHBI> G DH 3ŠCD +IEaIB<D ;D3ICM<S DKFCD GFCG<=

#GK TRD< ^RBb\ HG< U\< BKFDCD<IKFD< I^RDHHG< ^RD NRDCGK CDIHBbI;G< TGC DKEICVG ICDEGKGEB;G< D<ERHFGCD< DRCGTDG<S TCBUDCIUDKFD BFIHBIKG< Q NCIKED<D<S <RU\K;G<D DKFGCKG I NBKIHD< ;DH `"` IHVRKG< D<TIdGHD< EGUG HG< EBFI;G< qRDCGHS -DKHHBRCD Q -HIQ=*<FI< EGUBFIKEBI< ;BDCGK GCMVDKDS IH ^RD <D ;DNBKD EGUG RK [UIC ;D U\CUGH] TGC HIBKVDKFD EIKFB;I; ;D EDKGFINBG< CDIHBbI;G< DK D<FD UIFDCBIHS Q DK RK D<TIEBG FIK DcFDKX<GS ^RD CDIHUDKFD ;DZI DK DH WB<BFIKFD DS DH ERIH aI <B;G EGKWDCFB;G DK [.R<DG] aIEDD<EI<G< IdG<S FD<FBUGKBIK;G DH ECDEBDKFD BKFDC_< TGC D<FD TIFCBUGKBG=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p??

.'$*% ",8&&"'= .'8#%+*% )* +' 2'."+"' O*+'9= 0*.*,$*&"% )* +' &*0%X+*$'S -8*,%# '"&*# :'&7*,$",'>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p?p

#*+*00"J, )* ".47*,*#

3+'9' e%#/ )* '+*,0'&= &6% )* e',*"&% :-&'#"+>

*K HI< FCIK<NGCUIEBGKD< RCYIKI< GTDCI;I< ;RCIKFD DH <BVHG `"` DH UGKRUDKFGEGKUDUGCIFBWG I;^RBCBL RK TITDH ;D CDHDWIKEBI <BUYLHBEIS EGKWBCFBDK;G IH [<BFBG] DK[HRVIC]S D< ;DEBC I RK FDCCBFGCBG NM<BEG DK RK D<TIEBG EGK <BVKBNBEIEBLK= 8K ECMFBEGERYIKG <DdIHIYI DK fgps ^RD DH UGKRUDKFGS TGC CDVHI VDKDCIHS DCI DUTHIbI;G [DK DHEDKFCG VDGU_FCBEG ;D RKI UIKbIKI ;D<FBKI;I I TIC^RD G THIbI TkYHBEIS Q D< KIFRCIH^RD I<M GERCCIS TRD< HI< TDC<GKI< ^RD BKFDCWBDKDK KG EGKEBYDK ^RD DK RKI UIKbIKITRD;I <BFRIC<D RK UGKRUDKFG DK GFCG HRVIC U\< ^RD DK <R EDKFCG VDGU_FCBEG= 0RIKX;G D<FI CDVHI KG <D ERUTHD <D <BFkI DK RKI D<^RBKI G DK RKI B<HDFI DK HI BKFDC<DEEBLK;D ;G< EIHHD<S EGUG = !I<FI YBDK DKFCI;G DH ``S UBDKFCI< HI EBR;I; UIKFRWG RK FC\NBEG EICIEXFDCBbI;G TGC FCIKWMI< G TGC EGEaD< EICDKFD< ;D HI< TCD<FIEBGKD< IEFRIHD< ;D WDHGEB;I;SDH UGKRUDKFG <D EICIEFDCBbL TGC <DC RK DHDUDKFG ;D GC;DKIUBDKFG ;D I^RDH :DKD<TDEBIH HG< RYBEI;G< DK CGFGK;I<>S I;DU\< ;D UIKFDKDC <R EIC\EFDC ;D GYCI ;D ICFD;BVKI ;D I;UBCIC<D GS IH UDKG<S ;D EGKFDUTHIC<D EGUG FIH= +I WDCFBVBKG<B;I; ;D HG<;MI< IEFRIHD< aIK aDEaG I UDKR;G ;D _H RK GYZDFG URDYHD ^RD I WDED< D< aI<FIEGK<B;DCI;G RK D<FGCYG TICI DH EGK;REFGC=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p?h

*`3%#"0"J, )* -%0*$%#= 0%,08&#% 3'&' *+ .%,8.*,$% ' e8#$%e%#/ )* 8&q8"9'= -8*,%# '"&*# :'&7*,$",'>S fgps

+G< EGKERC<G< DKFCD ICFB<FI< NRDCGK DH UD;BG ̂ RD HI< IRFGCB;I;D< EBWBHD< EGK<B;DCICGKU\< IEDCFI;G I HI aGCI ;D ;DEB;BC ̂ RB_K ;DYMI DKEICVIC<D ;DH ;B<DdG Q EGK<FCREEBLK ;D HG<UGKRUDKFG<= 8KG ;D HG< TCBKEBTIHD< TCGYHDUI< ̂ RD <D <R<EBFICMIK DK HG< EDCF\UDKD< IUDXCBEIKG< NRD HI IR<DKEBI ;D HG< ICFB<FI< U\< ERIHBNBEI;G< ;DYB;G I ̂ RD DK UREaI< GEI<BGKD<HG< UBDUYCG< ;DH ZRCI;GS DHDVB;G< TGC I^RDHHI<S KG CDRKMIK HI <RNBEBDKFD EITIEBFIEBLK TICID<FIYHDEDC ZRBEBG< D<F_FBEG< EGUG TGHMFBEG< Q UBHBFICD<S <BDK;G CD;REB;G aIYBFRIHUDKFD DHERTG CD<DCWI;G I HG< aGUYCD< ;D ICFD< Q HDFCI<= *K 'CVDKFBKIS 7CGRc ;D 3IFFQ <DdIHIYI QIDK fjsh ^RD [+G< BKEGKWDKBDKFD< ^RD <D FDUMI DKEGKFCIC DK HG< EGKERC<G< DCIK <GYCDFG;G5 TGC TICFD ;D HI I;UBKB<FCIEBLKS ;D KG WDC NBVRCIC DK DHHG< HG< IC^RBFDEFG< GNBEBIHD< QTGC EGK<BVRBDKFD FDKDC FIH WDb ^RD EGKNBIC FCIYIZG< ;D RKI DZDEREBLK ;BNMEBH I ;BYRZIKFD<a\YBHD< TDCG <BK DcTDCBDKEBI TC\EFBEIl Q TGC TICFD ;D HG< IC^RBFDEFG< ;D HI I;UBKB<FCIEBLKS;D WDC TCG;REBC<D EGUTDFDKEBI< FDUBYHD< Q EGKERCCDKFD< EITIED< ;D <DC CDEGKGEB;G<ITFG< TICI GERTIC ;BVKIUDKFD Q kFBHUDKFD <R TRD<FG]= %FCI GTBKBLK CDEGVB;I ;D RK TDCBLX;BEG ;D -RDKG< 'BCD< DK fjgs <DKFDKEBIYI5 [+G< EGKERC<G<S DK TCBKEBTBGS <GK DcEDHDKFD<lTDCG DK HI TC\EFBEI ;DZIK UREaG ^RD ;D<DICS Q <RDHDK <DC I UDKR;G EIR<I ;D ^RD <DI;GTFDK GYCI< <BK U_CBFGS ERIK;G KG UIUICCIEaG<= #B DK DHHG< FGUICIK TICFD HG< ICFB<FI<U\< KGFIYHD<S Q ;DEB;BDCIK <GYCD DH WIHGC ;D HG TCD<DKFI;GS ZRDED< ;D WDC;I;DCI EGUTDFDKXEBI vBKNIHBYHD< TGC <R KkUDCG Q <R <IYDCv DH EGKERC<G <DCMI DH UD;BG U\< <DVRCG ;D KGEGUTCIC VIFG DKEDCCI;GS Q ;D I;^RBCBCS <B KG GYCI< UID<FCI<S TGC HG UDKG< <R ITCGcBUIXEBLK]= qRBb\ TGC UGFBWG< EGUG HG< UDKEBGKI;G<S UREaG< ;D HG< EGKERC<G< <D HHDWICGK IEIYG MKFDVCIUDKFD DK *RCGTIS ;GK;D I WDED< HI TCD<DKEBI IUDCBEIKI DK HI GCVIKBbIEBLK <DHBUBFIYI I HI BKFDCWDKEBLK ;D HI< IRFGCB;I;D< EGK<RHICD< TICI EGKWGEICHGS ;IC HI< BK<FCREX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p?A

EBGKD< QS DK FG;G EI<GS ;IC HRVIC I TDC<GKIHB;I;D< ;D KRD<FCG< TIM<D< DK HG< ZRCI;G<= *<FIDCI RKI UIKDCI ;D I<DVRCIC HI TICFBEBTIEBLK ;D CDKGUYCI;G< ICFB<FI<S ̂ RD IER;MIK QI NRDCITGC DH HLVBEG ;D<DG ;D TDCTDFRIC<D ICFM<FBEIUDKFD DK GFCG EGKFBKDKFDS G DK UREaG< EI<G<S;DYB;G I HG< ZRVG<G< DUGHRUDKFG< ̂ RD <R CDIHBbIEBLK HD< <RTGK;CMI=

e%#/ O"++'= .%,8.*,$% ' e%!, +*,,%,= +' !'-',' :08-'>S ?@@@

eRKFG I HI< NBVRCI< ;D HG< a_CGD< ;DH TI<I;GS EGUDKbICGK I aIEDC<D EI;I WDb U\<NCDERDKFD< HI< D<FIFRI< DCBVB;I< DK aGUDKIZD I TDC<GKIZD< EGKFDUTGC\KDG<S Q QI KG<GHIUDKFD TCGED;DKFD< ;DH EIUTG ;D HI TGHMFBEI G ;D HI< ICUI<S <BKG FIUYB_K ;D HI<HDFCI<S HI< ICFD<S HI< EBDKEBI<S HI CDHBVBLK Q GFCG< TDC<GKIZD< ;D TCD<DKEBI <GEBIH Q EGHDEXFBWI EGUG HI< UI;CD<S HG< FCIYIZI;GCD<S BKFDHDEFRIHD< Q FBTG< EG<FRUYCB<FI<= *<FI [;DXUGECIFBbIEBLK] UGKRUDKFIHB<FI ;DH D<TIEBG TkYHBEG <D aI WDKB;G UIKBND<FIK;G DK"YDCGIU_CBEI I HG HICVG ;D FG;G DH <BVHG `` Q HG ^RD HHDWIUG< ;DH ``"= 3G;CMIUG<<BUYGHBbIC HG <DdIHI;G EGK HI THIbI ;D;BEI;I I eGaK +DKKGK DK +I !IYIKIS DK THDKGEGCIbLK ;DH OD;I;GS ^RD BKEGCTGCI RK YIKEG EGK HI D<FIFRI ;DH -DIFHD BKWBF\K;GKG<I <DKFICKG< ZRKFG I _H= 'aGCI ERDKFI EGK ERB;I;GC TDCUIKDKFD FCI< HG< EGKFBKRG<CGYG< ;D <R< EH\<BEI< VINI< CD;GK;I<= '<M TRD<S HI WDKI EGKUDUGCIFBWI <D ;B<TICL Q^RD;L IYBDCFI I ERIH^RBDC EBR;I;IKG TCGEHBWD I I;^RBCBC HI EIFDVGCMI UGCIH <RNBEBDKFDEGUG TICI <DC BKUGCFIHBbI;G I FCIW_< ;D RK UGKRUDKFG= "KEHR<BWD I<B<FBCDUG< RKFIKFG TDCTHDZGl NIHHDEB;I DK fgjAS HI WIEI DCI EITIb ;D TCG;REBC ff@Sg HBFCG< ;D HDEaD DKFCD< GC;DdG<S UGFBWG TGC DH ERIH DKFCL DK DH HBYCG 7RBKKD<< ;D HG< C_EGC;<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p?i

.%,8.*,$% ' +%# 0'6)%# *, +' 78*&&' )*+ 0!'0%=q8"",)1 :3'&'78'1>S fghA=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p?s

)DKFCG ;DH IK\HB<B< ;D HI< FCIK<NGCUIEBGKD< D<F_FBEI< RCYIKI< Q CRCIHD<S Q DK EGKXECDFG ;DH TITDH ^RD DH UGKRUDKFG EGKUDUGCIFBWG aI WDKB;G ZRVIK;GS KG TRD;D<G<HIQIC<D DH \UYBFG ;D [HG TGTRHIC]S ^RD DK 'U_CBEI I;^RBDCD RKI <BVKBNBEIEBLK ;DDKGCUD BUTGCFIKEBI= *K I^RDH EGKFBKDKFDS RK IHFG TGCEDKFIZD ;D HI< UIKBND<FIEBGKD<ICFM<FBEI<S Q DH UGKRUDKFG KG D< HI DcEDTEBLKS D< ;D EIC\EFDC WDCKIERHIC= *K KRD<FCGEI<G <D FCIFI ;D UGKRUDKFG< ERQI EICIEFDCM<FBEI TCBKEBTIH D< <R FBKFD G <IYGC TGTRHICSTICI ;IC RKI ;DNBKBEBLK C\TB;I Q EGUTCDK<BYHD= *H VR<FG TGC HI UGKRUDKFIHBbIEBLK ;DHG< TCLEDCD< Q HG< aDEaG< aB<FLCBEG< TCBUDCGS Q HRDVG HI ;D TDC<GKIZD< U\< WBKERHI;G<EGK HI DFITI ;D [;DUGECIFBbIEBLK] ;D HI< D<ERHFRCI< ^RD FCIZG EGK<BVG HI TCD<DKEBID<FIFRICBI ;D GFCG< TDC<GKIZD< G EGHDEFBWG<S <D FCIK<UBFBL I HG< TRDYHG<S ^RD NRDCGK;D<ICCGHHIK;G <R D<F_FBEI RCYIKI <BVRBDK;G HI< B;DI< GCBVBKIHD< THIKFDI;I< DK HG<VCIK;D< EDKFCG< TDCG BKFDCTCDF\K;GHI< I <R UIKDCI= *K HG< URKBEBTBG< UDKG< TR;BDKXFD< DEGKLUBEIUDKFD D BUTG<BYBHBFI;G< TGC HG FIKFG ;D aIEDC GKDCG<G< DKEICVG<S TDCGEGK BVRIH ;D<DG ^RD HI< EITBFIHD< ;D FDKDC HI< D<FIFRI< ;D HG< TCGaGUYCD< ;D HIaB<FGCBIS CDERCCBDCGK I HG< ICFB<FI< D BKEHR<G I HG< ICFD<IKG< HGEIHD< TICI GYFDKDC D<FDTCGTL<BFG= *<FG< ICFB<FI< TICFBDCGK I<MS DK D<FG< EI<G<S DEaIK;G RKI UBCI;I <GYCDI^RDHHG< UG;DHG< U\< [ERHFG<] Q CDBKFDCTCDF\K;GHG< <DVkK HG< ;BEFI;G< ;D <R D<TMCBFRQ EGK HG< UIFDCBIHD< ^RD FDKMIK I <R IHEIKED= *<FG TCGTBEBL vQ <BVRD TCGTBEBIK;GSTGC^RD D< RK ICFD WBWGv ^RD HI< THIbI< ;DH BKFDCBGC EGUDKbICIK I CDVIC<D ;D D<FI<D<FIFRI< [BKVDKRI<]S [TGTRHICD<]S DK HI< ERIHD< HG< ICFB<FI< KG <BDUTCD EGK<BVRDKIHEIKbIC <R GYZDFBWG ;D RKI CDTCD<DKFIEBLK KIFRCIHB<FI Q NB;D;BVKI ;D HG< TCGFIVGKB<XFI< ;D HI aB<FGCBIS FCIK<UBFBDK;G RK IBCD ;D NIUBHBICB;I; ^RD I WDED< FDCUBKI TGC ;D<IXECIHBbIC HG< EGKFDKB;G< <BUYLHBEG< TDC<DVRB;G< I TCBGCB= )D ERIH^RBDC UIKDCIS D<FG<UGKRUDKFG< TI<IK I ERUTHBCS ;D<;D DH UB<UG UGUDKFG ;D <R DUTHIbIUBDKFGS NRKEBGXKD< ;D EIC\EFDC TD;IVLVBEG TICI HG< TRDYHG< CDEDTFGCD< ;D HG< UB<UG<S NRKVBDK;G I HIWDb ;D HRVIC ;D EGKEDKFCIEBLK DK HG< aGUDKIZD< TIFCBG<= *K 3ICIVRIQ TG;DUG< <DdIXHIC IHVRKG< DZDUTHG< ^RD KG< BHR<FCIK IEDCEI ;DH EIC\EFDC ;D D<FG< UGKRUDKFG< [TGXTRHICD<]S EGUG D< DH EI<G ;D HG< aGUDKIZD< D<ERHFLCBEG< ;D ^RD NRDCGK GYZDFG HG<a_CGD< ;D HI 7RDCCI ;DH 0aIEG DKFCD ;BEaG TIM< Q -GHBWBIS RYBEI;G< DK HI< THIbI< ;DWICBG< ;D HG< TRDYHG< ;DH TIM<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$p?j

'3/,)"0* )%08.*,$'+

"= *#3'0"%# #".-J+"0%#S *#3'0"%# )* 3%)*&f

€0R\KFI< WDED< RKG <D ;DFBDKDS EGK FBDUTG Q D<TMCBFR IKIHMFBEGS I GY<DCWIC HG<DHDUDKFG< UIFDCBIHD< ^RD EGKFCBYRQDK I ;DFDCUBKIC DH TDCNBH ;D HI EBR;I; DK HI ^RDWBWD~ *H CBFUG WDCFBVBKG<G DK DH ^RD FCIK<ERCCD KRD<FCG ;DWDKBC EGFB;BIKG TGEI< WDXED< KG< GFGCVI FIHD< TDCUB<G< = 1 D< I<M EGUGS TGC HG VDKDCIHS KG< ;D<THIbIUG< QTI<DIUG< TGC HG< D<TIEBG< ;D HI EBR;I; <BK TDCEBYBC EGKEBDKFDUDKFD HI URHFBTHBEB;I;;D BU\VDKD< ^RD KG< CG;DIK5 EICFDHD< BK;BEI;GCD<S TRYHBEB;I; VC\NBEIS D<ERHFRCI< GCXKIUDKFIHD<S D;BNBEBG<S UGKRUDKFG<=== <MUYGHG<S ;BNDCDKFD<S ̂ RD CDUBFDK TGC EGK<BVRBDKXFD I ;B<FBKFG< GYZDFBWG< D BKFDKEBGKIHB;I;D<= 3G;DC ;DEG;BNBEICHG< TDCUBFD EGUTCDK;DCU\< EIYIHUDKFD I<TDEFG< CDNDCB;G< I KRD<FCG TI<I;GS Q TGC DK;DS I KRD<FCG TCD<DKFDBKUD;BIFG=

*<TIEBG<S <MUYGHG<S TG;DC=== ,G< ;DFDK;CDUG< I^RMS D<TDEMNBEIUDKFDS DK DH IK\HB<B<;D HG< UGKRUDKFG< EGKUDUGCIFBWG<l GYCI< D<ERHFLCBEI< DUTHIbI;I< DK HG< D<TIEBG<TkYHBEG< ;D KRD<FCI EBR;I; ^RD vEGUG WDCDUG< I HG HICVG ;D D<FI< T\VBKI<v FBDKDK<R CIbLK ;D <DC U\< IHH\ ;D HI YDHHDbI G DH TRCG GCKIFG=

0R\H D< DH <DKFB;G ;D HI DcB<FDKEBI ;D UGKRUDKFG<~ 0R\KFI< WDED< KG< aDUG<;DFDKB;G I TDK<IC TGC ^R_ D<F\K IHHM Q KG DK GFCG HRVICS ^R_ BKFDKFIK EGURKBEICKG<SER\H D< <R <BVKBNBEI;G~ :x>

'YG^R_UGKG< IaGCI I KRD<FCG GYZDFG ;D IK\HB<B<S D< ;DEBC I HG< UGKRUDKFG< EGKXUDUGCIFBWG< Q <R DUTHIbIUBDKFG DK DH D<TIEBG RCYIKG= .\< IHH\ ;D HG< WIHGCD< D<F_XFBEG< ITGCFI;G< GS HI< U\< ;D HI< WDED<S ;D HI IR<DKEBI ;D KGWD;I;D< D<FBHM<FBEI< ^RD_<FG< TCGTGKDKS DH D<FR;BG ;DH aDEaG UGKRUDKFIH EGKUDUGCIFBWG <D ZR<FBNBEI IUTHBIXUDKFD TGC <R <BVKBNBEIFBWI IEFRIEBLK DK HI EGK<FCREEBLK ;D HI B;DKFB;I; KIEBGKIH=

)D<;D DH EGUBDKbG Q I HG HICVG ;D HI aB<FGCBI ;I HI aRUIKB;I;S <D TRD;D ITCDEBIC HIKDED<B;I; ;D HI< ;BNDCDKFD< EBWBHBbIEBGKD< Q ERHFRCI< ;D DCBVBC GYCI< ^RD vBK;DTDKX;BDKFDUDKFD ;D HI D<EIHI RFBHBbI;Iv <D EICIEFDCBbIK TGC RK ;D<DG ;D TDCUIKDKEBIS;D<FBKI;I< I CDEGC;IC aDEaG< <BVKBNBEIFBWG< ;D <R aB<FGCBI= #D FCIFIS ;D HI VDKDCIEBLK;D UGKRUDKFG< EGKUDUGCIFBWG<l <D FCIFI DK ;DNBKBFBWIS ;D HI NGCUIEBLK Q THI<UIEBLKUIFDCBIH ;D <MUYGHG< TCGTBG<S THIR<BYHD< ;D HGVCIC RKI B;DKFBNBEIEBLK BKUD;BIFI Q ;RCIX;DCI FIKFG TGC <R< EGKFDUTGC\KDG< EGUG TGC HI< VDKDCIEBGKD< WDKB;DCI<=

' TICFBC ;D <R DUTHIbIUBDKFG DK DH D<TIEBG TkYHBEG HI< GYCI< EGKUDUGCIFBWI< EGKHHDXWIK RK GYZDFBWG URQ EHICGS CDHIEBGKI;G EGK DH NBK ;D HG< ̂ RD VDKDCICGK <R I;WDKBUBDKFG5HI UIQGCMI ;D HG< UGKRUDKFG< CD<TGK;D I TD;B;G< G DKEICVG< GNBEBIHD< QS TGC D<FI CIbLKSTI<IK I EGK<FBFRBC<D DK DHDUDKFG< ;B<ERC<BWG< EHICIUDKFD TDCFDKDEBDKFD< I RK UD;BG TGHMXFBEG= 1 IkK I^RDHHG< ̂ RD KG <RCVDK ;DH <DKG ;DH GNBEBIHB<UG FBDKDK RK CGH NRK;IUDKFIH IHDKFIYHIC DH ;B\HGVG DK HI D<NDCI ;D HG TGHMFBEG Q HG B;DGHLVBEG=

f= '78*&&*S .ICBKI5 [*<TIEBG< <BUYLHBEG<S D<TIEBG< ;D TG;DC]= *K5 {*0!#+*&S )BIKI-DIFCBb:EGGC;=>= "FIHBI DK DH aGCBbGKFD ;D HI< ICFD< TH\<FBEI<= 'CVDKFBKIS <BVHG< `"` Q ``= -RDKG<'BCD<S '<GEBIEBLK )IKFD 'HBVaBDCBS ?@@@S 3\V<= ifXih=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# p?g

#R NRKEBLKS I<MS KG <D HBUBFI DK IY<GHRFG I RK <BUTHD <DKFB;G GCKIUDKFIH ;DH D<TIEBGRCYIKG <BKG ^RDS Q D<FG D< HG ^RD HG< ;DNBKD ;D RKI NGCUI EIFDVLCBEI Q TCDEB<IS <GKUD;BG< ;D FCIK<UB<BLK TCGTIVIK;M<FBEI< ;D B;DGHGVMI< Q GCBDKFIEBGKD< TGHMFBEI<= ,GTG;DUG< GYWBIC DH aDEaG ;D ^RD D<F\K ;D<FBKI;G< I <DC DUTHIbI;G< DK RK D<TIEBGTkYHBEGS WIHD ;DEBC I <DC GY<DCWI;G< EGFB;BIKIUDKFD TGC UBHD< ;D TDC<GKI<l Q D<FDDUTHIbIUBDKFG D< HG ^RD HD< EGKNBDCD RKI NRKEBLK TD;IVLVBEI Q TCGTIVIK;M<FBEI ^RDD<F\ URQ HDZG< ;D TG<DDC IHVkK HDWD CI<VG ;D BKVDKRB;I;= #R ITICBEBLK DK RK ;DFDCXUBKI;G EGKFDcFG aB<FLCBEGXTGHMFBEG ;D RKI KIEBLK KG D< EI<RIHS EGUG FIUTGEG HG D< HITCGHBNDCIEBLK ;D D<FD FBTG ;D aGUDKIZD< I ;DFDCUBKI;I< TDC<GKIHB;I;D< Q HI IR<DKEBIG HI TG<FDCVIEBLK ;D HG< UB<UG< CD<TDEFG ;D GFCI<=

3GC HG IKFD;BEaGS ^RD;I EHICG ^RD D<FI< GYCI< UDCDEDKS Q I HI WDb DcBVDKS RKIK\HB<B< D<TDEMNBEG ^RD DcED;I HG< D<FR;BG< HBUBFI;G< IH UDEDKIbVGS IH IRFGC Q <REICCDCI ICFM<FBEIS G I^RDHHG< ^RD <D ITGQIK <BUTHDUDKFD DK HG< DHDUDKFG< BEGKGVC\NBXEG< RFBHBbI;G< DK HI< GYCI<=

""= +' *#08+$8&' .%,8.*,$'+= 2'0$%&*# 1 O'+%&'0"J,?

3ICI IYGC;IC D<FI ITCGcBUIEBLK I HI D<ERHFRCI UGKRUDKFIH DK +I !IYIKI aDUG<CDIHBbI;G RK HB<FI;G DWGHRFBWG ;D HG< U\< ;D<FIEI;G< UGKRUDKFG< EGUTRFIK;G ;B<XFBKFG< NIEFGCD< <GYCD HG< ^RD D<FIYHDEDC ECBFDCBG< EGUTICIFBWG<S NDEaIS ;D;BEIEBLKS TCGXUGFGCS IRFGCS KIEBGKIHB;I;S FBTGHGVMIS UIFDCBIHD<S FCIQDEFGCBIS DFE= ' TICFBC ;D DHHG< aDUG<TG;B;G GYFDKDC HI< YI<D< TICI ;D<ICCGHHIC HI< KGFI< U\< <BVKBNBEIFBWI< Q D<YGbIC CDXNHDcBGKD< TCGTBI< <GYCD HG< UDEIKB<UG< ;D NBKIKEBIEBLKS TCGUGEBLKS I;ZR;BEIEBLKSEGURKBEIEBLK Q CDEDTEBLK TGC TICFD ;D HI< _HBFD< ERHFRCIHD< Q DH D<TDEFI;GC DK VDKDXCIH=

8KI TCBUDCI ERD<FBLKS DK TICFD QI DcTRD<FIS D< HI ;DTDK;DKEBI DcFDCBGC I HI ^RD <DWD IYGEI;I HI "<HI TGC <R <BFRIEBLK VDGVC\NBEI Q <R EGK;BEBLK EGHGKBIH= )D<;D DHTRKFG ;D WB<FI ICFM<FBEGS ;G< <GK HI< CDNDCDKEBI< TCD;GUBKIKFD< Q EI<B kKBEI< DK DHTDCMG;G ^RD IYICEI ;D<;D HI <DVRK;I UBFI; ;DH <BVHG `"` aI<FI YBDK DKFCI;G DHTCD<DKFD= +I TCBUDCI D< TGC HLVBEI HI D<TIdGHIS ^RD UICEI HI DWGHREBLK ICFM<FBEI DK RKTCBUDC UGUDKFGS Q <DC\K TGC FIKFG D<ERHFGCD< aB<TIKG< ;DH \UYBFG GNBEBIH Q IEI;_UBEGHG< HHIUI;G< I CDIHBbIC EGK ;BVKB;I; IHVRKG< ;D HG< U\< <BVKBNBEIFBWG< DKEICVG< UGXKRUDKFIHD< ;DH `"`= 1 EGUTICFBDK;G TCGFIVGKB<UGS HI D<ERHFRCI BFIHBIKIS ^RD ITCGWDXEaI <R TRZIKbI BKFDCKIEBGKIH DK D<D UGUDKFGS EGK RK VCIK KRUDCG ;D FIHHDCD< QIRFGCD< ;D EGUTHDFI NGCUIEBLKl DH TCD<FBVBG ;D D<FG< ICFB<FI< Q HI EIHB;I; ;D HG< U\CXUGHD< ;D 0ICCICI IEFkIK EGUG CDEHIUG EI<B GYHBVI;G IH ^RD IER;BC TICI BKBEBIFBWI<UGKRUDKFIHD< Q NRKDCICBI<=

*<FI D<ERHFRCI <D EICIEFDCBbI TGC <R EGCCDEEBLK NGCUIHS IHVG ;D ITICIFG<B;I; EGUXTG<BFBWI Q RK CDIHB<UG ;DTRCI;G ^RD CDERTDCI E\KGKD< CDKIEDKFB<FI< Q EHI<BEB<FI<SI;DU\< ;D BKEGCTGCIC BKNHRDKEBI< CG;BKBIKI< DK DH FCIFIUBDKFG ;D HI< <RTDCNBEBD<= +I

?= -'94, )* !8*&$'S .GB<_<= +I D<ERHFRCI UGKRUDKFIH DK +I !IYIKI= 0\EDCD<S 8KBWDCX<B;I; ;D *cFCDUI;RCIS fgghS 3\V<= ?sXpp=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pp@

!B<FGCBGVCINMI ERYIKI aI FDK;B;G I UBKR<WIHGCIC D<FD TDCMG;G IH EGUTICICHG EGK HI<ITGCFIEBGKD< ;D HI VDKDCIEBLK ;D ICFB<FI< ^RD FCIYIZI DK DH <DVRK;G ERICFG ;D <BVHGlEGK D<FIC ZR<FBNBEI;I HI ECMFBEI DK IHVRKG< DZDUTHG< EGKECDFG<S HI ;D<EIHBNBEIEBLK VDKDXCIHBbI;I ;D D<FD TDCMG;G CD<RHFI <DWDCI DK DcED<GS TRD< DH EGKZRKFG CD<TGK;D I HI<TG<BYBHB;I;D< ;DH UGUDKFGS Q IRK EGK DHHG aIQ GYCI< Q NBCUI< CDIHUDKFD KGFIYHD<=

*K D<FI HHIUI;I IH DcFDCBGCS Q ;D NGCUI U\< DWB;DKFD DK DH TCBUDC ERICFG ;D <BVHGSBKNHRQDK FIUYB_K CIbGKD< ;D TCD<FBVBG= +I NBKIHBbIEBLK ;DH TDCBG;G EGHGKBIH D<TIdGHS ITD<IC ;D HI KRDWI ;DTDK;DKEBI KGCFDIUDCBEIKIS FCID EGK<BVG RK ;D<DG ;D ;BVKBNBEIC IHG< a_CGD< ;D HI CDWGHREBLK EGK VCIK;D< UGKRUDKFG<S Q DH TCGVCD<G ;D 0RYI TDCUBFDEGKFIC EGK UIQGCD< UD;BG< Q IECDEBDKFI DH IN\K ;D DURHIC I GFCI< KIEBGKD< BK;DTDKX;BDKFD<= +I TG<BYBHB;I; ;D EGKFIC DK HI "<HI EGK GYCI< ;D IRFGCD< ;D EBDCFG TCD<FBVBG<LHG <D aIED NIEFBYHD EGK IHFI< CDURKDCIEBGKD<S QI TGC DKEICVG ;BCDEFG G I FCIW_< ;DEGKERC<G< IFCIEFBWG< Q VDKDCG<IUDKFD ;GFI;G<S ^RD IEFkIK EGUG CDEHIUG TICI TICFBXEBTIKFD< BKFDCKIEBGKIHD<=

*HHG FBDKD RKI CDTDCER<BLK TG<BFBWIS Q D< HI YRDKI EIHB;I; UD;BI ;D HI< GYCI<CDIHBbI;I<= +I CDTRFIEBLK ;D D<FG< ICFB<FI< <RDHD WDKBC IWIHI;I TGC _cBFG< IKFDCBGCD<S QIRK^RD TRD;I aIYDC I<TDEFG< ERD<FBGKIYHD< DK <R THIKFDIUBDKFG G DH HDKVRIZD RFBHBXbI;GS KG <D HD< TRD;D IER<IC ;D NIHFI ;D EIHB;I; F_EKBEIS TRD< DK VDKDCIH <D ITCDEBIRK YRDK ;GUBKBG ;DH GNBEBG Q RK I;DERI;G FCIFIUBDKFG NGCUIH=

'aGCI YBDKS D<FI <BFRIEBLK FCID FIUYB_K EGK<BVG GFCI< EGK<DERDKEBI< ^RD aIQ ^RDWIHGCIC= 8KI ;D DHHI< D< DH ;D<ICCIBVG Q HI NIHFI ;D B;DKFB;I; EGK DH DKFGCKG ^RD<RDHDK UG<FCIC D<FG< EGKZRKFG< UGKRUDKFIHD<S KGCUI EGK D<EI<I< DcEDTEBGKD< Q QIDK NDEaI< IWIKbI;I<= #D CDTCG;REDK I<M D<^RDUI< EGUTG<BFBWG< Q FDU\FBEG< TCGEDX;DKFD< ;D *RCGTI Q DK VCIK UD;B;I IZDKG< I ERIH^RBDC WBKERHIEBLK HGEIHS TRD< <IHWGTGC HI B;DKFBNBEIEBLK ;DH TDC<GKIZDS DH EkURHG ;D IHDVGCMI< Q IHR<BGKD< TG;CMI EGCCD<XTGK;DC I ERIH^RBDC GFCG FDUI G DKEHIWD TCDWBIUDKFD FCIbI;G=

+G< TCGUGFGCD< ERYIKG< KG <IYDK CD<GHWDC HI EGKFCI;BEEBLK DKFCD ;B<TGKDC ;DGYCI< EGK TCD<FBVBG IWIHI;I< TGC KGUYCD< DcFCIKZDCG< Q EBDCFG ;D<DG ;D ERYIKB;I;^RD <D WD BK<IFB<NDEaG DK VCIK UD;B;I TGC D<I UB<UI EBCERK<FIKEBI= *H BKFDC_< TGCBKEGCTGCIC CI<VG< IRFLEFGKG< <D ;DFDEFI DK HI< EGKWGEIFGCBI< ;D IHVRKG< ;D HG<UGKRUDKFG< U\< BUTGCFIKFD< ;DH TCBUDC ERICFG ;D <BVHGS EGUG HG< ;D 7LUDb G .IXEDG= +G< ECMFBEG< ;D TCDK<I Q HI< KRUDCG<I< GTBKBGKD< ;D TICFBERHICD< ^RD <D WBDCFDKDK HG< UD;BG< D<ECBFG< ;RCIKFD D<FG< EGKERC<G< ;D I;ZR;BEIEBLKS ERD<FBGKIK I^RDHHG<TCGQDEFG< ^RD KG aIK <IYB;G EGKDEFIC EGK DH D<TMCBFR ERYIKG Q ;DUIK;IK DK EGK<DXERDKEBI RK UIQGC ICCIBVG HGEIH= +I TICI;GZI D< ^RD IUYI< BKBEBIFBWI< IEIYIC\K EGKXED;B_K;G<D I IRFGCD< BFIHBIKG<=

*K fg?i DH IYGVI;G aIYIKDCG +REI< +IUI;CB; BKNGCUIYI TGC EICFI IH D<ERHFGCD<TIdGH .GB<_< ;D !RDCFI ;D HI EGKWGEIFGCBI ;D RK UIR<GHDG I HG< <GH;I;G< Q GNBEBIXHD< ;DH DZ_CEBFG ERYIKGS EGUDKFIK;G ^RD HG< TCGUGFGCD< ;D<DIYIK [^RD HG< UG;DHG<<D FGUDK DK 0RYI Q ^RD DH TCGQDEFG CD<TBCD ERYIKB<UG]=

*<FI ;DUIK;I ;D <DdI< ;D B;DKFB;I; <D IECDEBDKFI EGKNGCUD IWIKbI DH <DVRK;GERICFG ;D <BVHGS ERIK;G BK<FBFREBGKD< EGUG HI 2D;DCIEBLK ;D 'C^RBFDEFG< CDEHIUIK KG<LHG ^RD HG< TCGQDEFG< EGKUDUGCIFBWG< ;DKGFDK CI<VG< TCGTBG<S <BKG ^RD <DIK I;ZRX;BEI;G< I ICFB<FI< ERYIKG<= "K;BE\YIUG< IKFDCBGCUDKFD ELUG HI EGKWGEIFGCBI ;DHUGKRUDKFG I .ICBIKI 7CIZIHD< FBDKD QI RK EIC\EFDC KIEBGKIH= 3GC GFCI TICFDS DH UGKRX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ppf

UDKFG I eG<_ .BVRDH 7LUDb BKEHRMI CDNDCDKEBI< URHFBCCIEBIHD< DK HG< CDHBDWD< YCGKEMXKDG<S HG ERIH <BK ;R;I D< RK IWIKEDS TDCG I TD<IC ;D DHHGS TGC <R IRFGCMI BFIHBIKI Q <RITICIFG<B;I;S HI 2D;DCIEBLK HHDVL I <GHBEBFIC HI TICIHBbIEBLK ;D HI< GYCI< Q RK KRDWGEGKERC<G DKFCD ICFB<FI< HGEIHD<= 8K DZDUTHG U\<5 HI <IFB<NIEEBLK UG<FCI;I DK HI CDWB<FI'C^RBFDEFRCI DK fgh? TGC^RD HI ECBYI DK HG< <RED<BWG< EGKERC<G< ;DH UGKRUDKFG I.ICFM Q HI 3HIbI EMWBEI aRYBD<D ;DZI;G EGUG NBKIHB<FI< I TCGQDEFG< EGK TICFBEBTIEBLKERYIKIS DKFDK;BDK;G EGK DHHG ^RD <D EGK<DVRBCMI DH FGKG IUYBDKFIHS EIC\EFDC Q UIFBXED< ;D<DI;G<=

'<M TRD<S HI ;DUIK;I CD<RHFI EHICI Q EGKFBKRIS TDCG DK HI TC\EFBEI HG< UGKRUDKFG<<D <BVRDK I;ZR;BEIK;G I BFIHBIKG< G D<TIdGHD<= *<FI ITICDKFD EGKFCI;BEEBLK <D CD<RDHXWD IH EGK<FIFIC ^RD DK HI TCBUDCI NI<D ;D HI &DTkYHBEI DK CDIHB;I; KG aIQ D<ERHFGCD<ERYIKG< EITIED< ;D EGUTDFBC DK KBWDH ;D EIHB;I; EGK HG< ^RD WBDKDK ;D NRDCI= #RTCD<DKEBI DK HG< EGKERC<G< D< URQ CD;REB;I Q D<EI<IUDKFD EGUTDFBFBWI DK CDHIEBLK IHG< ICFB<FI< DcFCIKZDCG< EGK UIQGC TCD<FBVBG=

*K EGKEHR<BLKS HI BK;DTDK;DKEBI CDEHIUIYI RKI B;DKFB;I; KIEBGKIHB<FI ^RD <D BC\THI<UIK;G DK TCGQDEFG< UGKRUDKFIHD<S TDCG CDIHBbI;G< I TICFBC ;D UG;DHG< NGC\KDG<=+I <BFRIEBLK D< EGUTCDK<BYHDS TRD< HG< IRFGCD< DK ;DNBKBFBWI R<IK DH HDKVRIZD ^RDEGKGEDK= !IK ;D <IFB<NIEDC RKI ;DUIK;I EGK TCDFDK<BGKD< D B;DI< URQ EGKECDFI<S IHI< ^RD ;IK CD<TRD<FI CDTCG;REBDK;G D<^RDUI< ^RD QI aIK <B;G DK<IQI;G< EGK _cBFGQ <IYDK ^RD TRD;DK <DC N\EBHUDKFD I<RUB;G< TGC HI< EGUB<BGKD< G ZRCI;G< EGK<FBFRBX;G< IH DNDEFG= 8FBHBbIK TRD< RK HDKVRIZD DEH_EFBEGS EGKWDCFB;G DK BKFDCKIEBGKIH I TICFBC;D <R CDTDFBEBLK DK DH DKFGCKG DRCGTDG ;D<;D NBKD< ;DH `"`5 ;D IaM ^RD <D CDEBYIK <BKTCGYHDUI< ;BG<D<S a_CGD<S WBCFR;D< Q IHDVGCMI< ;D GCBVDK GEEB;DKFIH ^RD TGC DcFDK<BLKaIK ;DCBWI;G DK RKBWDC<IHD<=

)D FG;G D<FD DKFGCKG <D ;D<TCDK;D FIUYB_K HI NIHFI ;D CDKGWIEBLK ^RD IER<I DHV_KDCG UGKRUDKFIH= +I D<ERHFRCI ;D TD^RDdG Q UD;BG NGCUIFG TDCUBFD RK UIQGCKBWDH ;D DcTDCBUDKFIEBLKl DH ICFB<FI HI ECDI HBYCDUDKFD DK <R D<FR;BG Q IRK^RD KGFDKVI <BDUTCD HI VICIKFMI ;D RKI I;^RB<BEBLK NBKIHS <R< ;BUDK<BGKD< Q UDKGC EG<FG IHUDKG< HD TDCUBFDK <R DcTG<BEBLK TRYHBEI <BK FDKDC ^RD <GUDFDC<D KDED<ICBIUDKFD IRKI ITCGYIEBLK TCDWBI= +I D<ERHFRCI UGKRUDKFIH <BK DUYICVG KG I;UBFD IR;IEBI<S GHG aIED DK UREaI UDKGC UD;B;I= +G< TCGQDEFG< aIYC\K ;D GYFDKDC HI ITCGYIEBLK ;DRK ZRCI;G TGC HG VDKDCIH URQ EGK<DCWI;GCS ^RD <D INBCUI DK HG EGKGEB;G Q TCGYI;GSQ ^RD KG ;D<DI TGH_UBEI< EGK <R HIR;G= +I< _HBFD< TGHMFBEI< Q ERHFRCIHD< ^RD <R<FDKFIKD<FI< BKBEBIFBWI< FIUTGEG <RDHDK ITICFIC<D ;D <BUBHICD< HMKDI< ;D IEFRIEBLK= :x>

+G< UGKRUDKFG< EGKUDUGCIFBWG< aIK ;D aGUDKIZDIC I HG< a_CGD< KIEBGKIHD<STCD<DKFI;G< DK IEFBFR;D< IBCG<I<S DHGERDKFD< G CDNHDcBWI<S Q aIK ;D KICCIC <R WB;I QaIbIdI<S TGC HG ^RD <D aIC\K BK;B<TDK<IYHD< HG< CDHBDWD< BHR<FCIFBWG< ;D EGKEDTEBLKEHICI Q HDKVRIZD CDIHB<FI=

3DCG IRK <BDK;G D<FG EBDCFGS aIQ ^RD FDKDC DK ERDKFI ^RD I HI WGHRKFI; ;D KICCIEBLKCDIHB<FIS aIQ ^RD <RUIC RK EGKFDKB;G IHDVLCBEG ^RD KG <BDUTCD D<F\ DK EGK<GKIKEBI EGKD<I NBKIHB;I; ;B;\EFBEI= 0GK DH ;D<DG ;D DKIHFDEDC HI EGKUDUGCIEBLKS <D BKFCG;REDK DK DHEGKZRKFG DHDUDKFG< FCI<EDK;DKFD<S UBFGHLVBEG< Q <BUYLHBEG< aIYBFRIHD< DK DH URK;G GEEBX;DKFIHS TDCG ̂ RD DK CDIHB;I; NGCUIK TICFD ;D RK HDKVRIZD DK EHIWD ERQG <BVKBNBEI;G TDCUIXKDED DK VCIK UD;B;I IZDKG IH EGKGEBUBDKFG VDKDCIH= -I<FI EGK HDDC HI< UDUGCBI< ;DIKFDTCGQDEFG< TCD<DKFI;G< DK IHVRKG< ;D HG< TCBKEBTIHD< EGKERC<G< UGKRUDKFIHD< G

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pp?

NRKDCICBG< :W_IK<D TGC DZDUTHG DH UIR<GHDG ;D HG< D<FR;BIKFD< NR<BHI;G< DK DH 0DUDKFDCBG;D 0GHLKS G DK +I !IYIKI HG< UGKRUDKFG< ;D .IEDGS .\cBUG 7LUDb G eG<_ .BVRDH7LUDb>S TICI ;DFDEFIC HI CDFLCBEI ^RD TCD<B;D HG< TCGVCIUI< BEGKGVC\NBEG< DHDVB;G<S IWDED< BKEGUTCDK<BYHD< <BK ;BEaI DcTHBEIEBLK D<ECBFIS Q TGC FIKFG URQ CD<FCBKVB;G< DK <REITIEB;I; ;D EGKDcBLK EGK RK TkYHBEG UIQGCBFICBG= '<MS DH D<TDEFI;GC TGEG NGCUI;G <LHGWDC\ RKI KBdI EGK FkKBEI DK RKI 'HDVGCMI ;D HI "KGEDKEBI <IHBDK;G ;D HI< FBKBDYHI< I HI HRb lRK <GH;I;G DK HI BUIVDK ;DH )BG< .ICFDS RKI ZGWDK IHI;I DK HI +BYDCFI; Q ;D<KR;G<NDUDKBKG< G UIFCGKI< <D;DKFD< DK HRVIC ;D <MUYGHG< ;D HI< U\< ;BWDC<I< WBCFR;D<S DH'UGC 3IFCBG S DH !DCGM<UG S HI 'YKDVIEBLK S DFE=

!IQ ^RBb\< ;DUI<BI;I BKFDHDEFRIHBbIEBLK DK DH ;B<DdG ;D HG< TCGVCIUI<S TDC;B_KX;G<D DK TICFD HI EGKDcBLK EGK DH EBR;I;IKG= 3DCG I TD<IC ;D KG TDCEBYBC THDKIUDKFD<R< UIFBED<S DH D<TDEFI;GC ITCDEBI HI EITIEB;I; DWGEI;GCI ;D D<FD HDKVRIZD Q CDEBYD<BK TCDGERTIEBLK <R DHGERDKFD UDK<IZD= '<M TRD<S HI IHDVGCMI B;DIHBbI;GCI Q <BUYLHBEI<BVRD NRKEBGKIK;G TH\<FBEIUDKFD Q EGK <R DNDEFB<UG ;GUBKI ;RCIKFD RK HICVG TDCMGX;G DH TIKGCIUI UGKRUDKFIH=

&D<RHFI <GCTCDK;DKFD HI KIFRCIHB;I; EGK ̂ RD HI< EHI<D< ;GUBKIKFD< EGUYBKIK HI WGHRKXFI; BHR<FCIFBWI EGK DH HDKVRIZD TCDEBG<B<FI Q DcIHFI;G ;D HI IHDVGCMIS HHDKG ;D CDNDCDKEBI<EH\<BEI< Q IZDKG I RK ;D<DG ;D EGURKBEIEBLK ;BCDEFI= 3DCG DHHG DKEIZI EGK HI UDKFIHB;I; ;DRKG< ;BCBVDKFD< Q RKI< _HBFD< ;D GTBKBLK ̂ RD IEFkIK DK HI TC\EFBEI EGK BK;DTDK;DKEBI ;DHCDEDTFGC UIQGCBFICBGS IRK^RD <D FDKVI EGKEBDKEBI ;DH UB<UG= '<MS FIK BUTGCFIKFD EGUG DHTDC<GKIZD G IEGKFDEBUBDKFG EGKUDUGCI;G<S HG <DC\ DH DKWGHFGCBG DKIHFDED;GC EGK ̂ RD <DTCD<DKFIKl HG< ICFB<FI< IEFRIC\K EGUG WIHD;GCD< TH\<FBEG< ;D HI BKBEBIFBWIS <IFB<NDEaG< EGK^RD HG< TCGUGFGCD< ;DK <R ITCGYIEBLK IH TCGQDEFG=

+I FDU\FBEI ;D HI< GYCI< UGKRUDKFIHD< CDEGVD FIUYB_K D<FD TCGED<G TGC DH ERIH<GK HI< EHI<D< ;BCBVDKFD< HI< ^RD TCGTGKDK HG< UGFBWG<S ^RD IH FBDUTG <RDHDK <DC YBDKCDEBYB;G< TGC RKI TGYHIEBLK <BK DcED<BWI EITIEB;I; ECMFBEI Q ^RD EGK NCDERDKEBIBKEHR<G EGHIYGCI DK HI NBKIKEBIEBLK ;D HI DUTCD<I= +I TGHMFBEI UGKRUDKFIH IEFkI ;DICCBYI IYIZGS <DHDEEBGKIK;G I^RDHHG< TDC<GKIZD< G IEGKFDEBUBDKFG< ^RD DKEICKIK HG<WIHGCD< ;D RK ;DFDCUBKI;G UG;DHG <GEBIHl I<M ^RD;IC\K NBZI;G< ;D NGCUI TDCUIKDKFDQ <R DcTG<BEBLK TkYHBEI HG< EGKWDCFBC\ DK CDNDCDKEBI GYHBVI;I D BUBFIYHD=

0GK HI &DTkYHBEI ITICDED EGUG TCBGCBFICBI HI EGKUDUGCIEBLK ;D HG< a_CGD< ;D HI BK;DXTDK;DKEBIS I ̂ RBDKD< <D ;D;BEIK IHVRKG< ;D HG< U\< D<TDEFIERHICD< EGKZRKFG< aIYIKDCG<:.ICFMS .IEDGS 7LUDbS DFE=>= 3DCG DCI TCDWB<BYHD HI URHFBTHBEIEBLK ;D D<FG< aGUDKIZD< Q ;DIaM ̂ RD DK HI ;GERUDKFIEBLK EGK<RHFI;I ITICDbEIK EGKFBKRIUDKFD UI^RDFI< Q TCGQDEFG<DHIYGCI;G< TGC HG< D<ERHFGCD< DK D<TDCI ;D RKI GTGCFRKB;I; TICI TG;DC <BFRICHG<= *KIHVRKG< EI<G< <LHG NRD ERD<FBLK ;D FBDUTGS GFCG< ^RD;ICGK DK TCGQDEFG G <D TDC;BDCGK;DNBKBFBWIUDKFD I TD<IC ;D <R EIHB;I;S EGUG DK <R UGUDKFG WDCDUG<=

+I KLUBKI ;D HG< a_CGD< ;D HI CDWGHREBLK <D EGUTHDUDKFI EGK D<FI;B<FI< UBHBFICD<Q TGHMFBEG<S ^RD <GK EGKUDUGCI;G< BKEHR<G <BK ;DZIC TI<IC EBDCFG UICVDK FDUTGCIH= 8KEI<G <BVKBNBEIFBWG D< DH ;D eG<_ .BVRDH 7LUDbS ERQG UGKRUDKFG EGUDKbL I VD<FIC<DTGEG ;D<TR_< ;D IEIYIC <R UIK;IFGS Q TGC <R CDTDCER<BLK TGTRHIC GYFRWG RKI VCIKCD<TRD<FI EGK TD^RDdI< EIKFB;I;D< <R<ECBFI< UIQGCBFICBIUDKFD DK RK YCDWD THIbGSIRK^RD HI CD<GHREBLK NBKIH <D TCGHGKVICMI YI<FIKFD= +HDVIC\ RK UGUDKFG DK ^RD HI0GUB<BLK 3CGWBKEBIH ;D 8CYIKB<UG ;D HI 2D;DCIEBLK ;D 'C^RBFDEFG< ;D +I !IYIKISUIKBNBD<FD ^RD HG< UGKRUDKFG< KG ;DYDCMIK aIEDC<D <BKG TI<I;G FBDUTG <RNBEBDKFD

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ppp

TICI TG;DC WIHGCIC CDIHUDKFD DH IHEIKED Q HI< CDTDCER<BGKD< ;DH TDC<GKIZDS <BK ;DZIC<DHHDWIC TGC HI BKUD;BIFDb Q HI TGTRHICB;I; DKFCD HG< EGKFDUTGC\KDG<=

0GK FG;GS HG< TGHMFBEG< <DVRBC\K GERTIK;G TIC^RD< Q THIbI<S IFIWBI;G< EGK HDWBFIS DKIEFBFR; CDNHDcBWI Q EGK UBCI;I BKFDUTGCIH= 3DCG KG <LHG DHHG< <GK HG< TCGFIVGKB<FI<l DHIYIKBEG <D IYCD I ;D<FIEI;G< TDC<GKIZD< ;DH URK;G ;D HI ERHFRCIS HI UD;BEBKI G TCGND<BGXKD< EGK EBDCFI TCGQDEEBLK <GEBIH= 1 FIUYB_K I HI EGKUDUGCIEBLK ;D aDEaG< aB<FLCBEG<<BVKBNBEIFBWG<S WIHGCI;G< DK RK ;DFDCUBKI;G DKFGCKG TGHMFBEG :W_I<D DH UGKRUDKFG I HI<WMEFBUI< ;DH .IBKD >= $G;G NGCUI TICFD ;D RK UB<UG \UYBFG ;D CDNDCDKEBI<S IRK^RD DHFBDUTG ;DFDCUBKD ER\HD< <GK ERD<FBGKIYHD< Q ER\HD< CDIHUDKFD W\HB;I<= !I<FI ^RD DK NDXEaI< QI URQ IWIKbI;I< HI D<ERHFRCI IUYBDKFIH <BK NBKD< EGKUDUGCIFBWG< <D IYCI EIUBKGS DHEBCERBFG TGC DH ERIH HI< _HBFD< TCGTGKDK HG< FDUI< Q HI TGYHIEBLK HG< I<RUD <DVRBC\ CDTBFB_KX;G<D EGUG UDEIKB<UG DNBEIb Q TCBGCBFICBG DK DH \UYBFG UGKRUDKFIH= :x>

+I TCDK<I <RDHD FDKDC RK TITDH BUTGCFIKFD DK HI VD<FIEBLK ;D HI B;DIS ;BNRK;BDK;GRKI BKBEBIFBWI ^RD TICFD ;D RK TDCBG;B<FIS TDK<I;GC R aGUYCD ;D D<FI;G EGK TD<G DKHI WB;I TGHMFBEIS <GEBIH G ERHFRCIH= *H <BVRBDKFD TI<G <DC\ HI EGK<FBFREBLK ;D RK EGUBF_G ZRKFI ;D aGUDKIZDS ^RD <D NGCUIHBbI HDVIHUDKFD EGK HI DHDEEBLK ;D RKI ZRKFI ;BCDEXFBWI= #R< UBDUYCG< aIYC\K ;D <DC TDC<GKIZD< EGKGEB;G< Q ;D<FIEI;G< ;D HI WB;ITkYHBEIS TRD< <R TCGTBG KGUYCD ;DYD VDKDCIC EBDCFG TG;DC ;D EGKWGEIFGCBIS I;DU\<;D FDKDC EITIEB;I; VD<FGCI TICI UGWDC EGK DNBEIEBI HG< UkHFBTHD< CD<GCFD< ^RD <DTGKDK DK UICEaI= +I EGUB<BLK KGUYCI TICI TCD<FBVBIC HI DUTCD<I RKI TCD<B;DKEBIaGKGCMNBEIS VDKDCIHUDKFD DH TCGTBG 3CD<B;DKFD ;D HI &DTkYHBEIS Q IEFkI DK HI TC\EFBEIEGK RK ;BCDEFGC G TCD<B;DKFD DZDERFBWGS RK <DECDFICBGS RK FD<GCDCG Q ;BWDC<G< WGEIHD<=

+I EGKWGEIFGCBI <D aIED TkYHBEI I FCIW_< ;D HI TCDK<I Q EICFI< BKNGCUIFBWI< EGKWDXKBDKFDUDKFD ;BCBVB;I<= 8KI ERDKFI YIKEICBI G RK TRKFG ;D ;DTL<BFG CDEBYD HI< EIKFBX;I;D< ^RD I;UBKB<FCIC\ DH FD<GCDCGS D<FBUIK;G RK TCD<RTRD<FG ^RD FGUI EGUG CDNDCDKEBIIKFDCBGCD< BKBEBIFBWI<S EGK RK UICVDK IUTHBG ;D IEFRIEBLK DK NRKEBLK ;D HI CD<TRD<FITGTRHIC= &DEIR;I;I HI EIKFB;I; TCDWB<FI G IH UDKG< <RNBEBDKFDS <D EGKWGEI RK EGKXERC<G TkYHBEG ;D I;ZR;BEIEBLK DK F_CUBKG< ^RD HRDVG IUTHBICDUG<= 8K ZRCI;G ;DFDCXUBKI DH VIKI;GC Q ;RCIKFD HI DZDEREBLK <D BC\K HBYCIK;G HG< CDERC<G< <DVkK ECBFDCBG<TIEFI;G<= 0GK HI BKIRVRCIEBLK ;D HI GYCIS NCDERDKFDUDKFD WICBG< IdG< ;D<TR_<S HIEGUB<BLK <D ;B<RDHWDS EDCCIK;G RKI IEFRIEBLK KG <BDUTCD DcDKFI ;D TGH_UBEI=

"""= -'#*# )*+ 0%,08&#% 3'&' +' *&*00"J, )*+ .%,8.*,$%"""= '+ 7*,*&'+ &"O*&'p

'CF= ?ƒ v *H .GKRUDKFG EGK<B<FBC\ DK HI D<FIFRI DERD<FCD DK YCGKED ;DH !_CGDEGK <R TD;D<FIH ;D TBD;CI=

3DCG DH ICFB<FI ;DYDC\ EGKEDYBC Q TCGQDEFIC HI D<FIFRI FDKBDK;G D<TDEBIHUDKFD DKERDKFI5

p= 0GUB<BLK ,IEBGKIH ;D .GKRUDKFG IH 7DKDCIH &BWDCI= -I<D< ;DH EGKERC<G TICI HI DCDEEBLK;DH UGKRUDKFG EGK HI< DKUBDK;I< BKFCG;REB;I<= .GKFDWB;DGS "UTCDKFI [*H #BVHG "HR<FCI;G]SfgAAS 3\V<= pXj=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pph

I> DH D<FR;BG RCYIKM<FBEG CDIHBbI;G TGC HI )BCDEEBLK ;DH 3HIK &DVRHI;GC ;D .GKFDXWB;DG TICI DH HRVIC ;DH DUTHIbIUBDKFGl Q

Y> ^RD DK HI DKFCI;I ;D D<D HRVIC G D<TIEBG v^RD <DC\ GCKIUDKFI;G DK NGCUI ;DTIC^RDv <D TCGQDEFI HDWIKFIC DK DH NRFRCG RK TLCFBEGS ICEG R GFCG DHDUDKFGIC^RBFDEFLKBEGS DH ERIHS ERIK;G <D aIVIS ;DYDC\ VRIC;IC ICUGKMI EGK HI D<FIFRI=

#D IEGUTIdIC\K IH HHIUI;G I EGKERC<GS HG< THIKG< ;DH HRVIC ;DH DUTHIbIUBDKFGSEGK HI <RTDCNBEBD Q HMKDI< ;D _<FD Q HI< ;B<FIKEBI< DKFCD DH &GK;X3GBKFS HI RYBEIEBLK;D HI D<FIFRI Q DH TLCFBEG ^RD ;IC\ DKFCI;I IH D<TIEBG G TIC^RD ;GK;D <DC\ DUTHIXbI;I=

'CF= pƒ v $IUYB_K <D TGK;C\ I ;B<TG<BEBLK ;D HG< BKFDCD<I;G< ^RD HG <GHBEBFDKS DHUIFDCBIH aB<FLCBEG Q HI BEGKGVCINMI ^RDS I ZRBEBG ;D HI 0GUB<BLKS EGK<FBFRQI RKI DNBEIbNRDKFD ;D BK<TBCIEBLK D BKNGCUIEBLK TICI HI UDZGC EGKEDTEBLK ;D HI GYCI Q HI U\<DcIEFI BKFDCTCDFIEBLK ;D HI NBVRCI ;DH 3CLEDC=

'CF= hƒ v *<FD EGKERC<G <D CDIHBbI DK NGCUI IYBDCFI Q <BK HBUBFIEBGKD<S TR;BDK;GTCD<DKFIC<D I _H HG< D<ERHFGCD< Q IC^RBFDEFG< KIEBGKIHD< Q DcFCIKZDCG< ^RD HG ;D<DDKS QERIH^RBDCI <DI DH HRVIC ;D <R ;GUBEBHBG G CD<B;DKEBI=

+G< D<ERHFGCD< DcFCIKZDCG< ;DYDC\K TCD<DKFIC <R< TCGQDEFG< IEGUTIdIK;G DK <GXYCD EDCCI;G Q HIECI;G IKFDED;DKFD<S BKNGCUD< Q NGFGVCINMI< ;D HI< GYCI< ICFM<FBEI< ^RDaIQIK CDIHBbI;G Q <DIK ;D HI BUTGCFIKEBI ;D _<FI ^RD UGFBWI DH TCD<DKFD HHIUI;G IEGKERC<G= *<FG< <GYCD< <DC\K IYBDCFG< <LHG DK DH EI<G ;D EGCCD<TGK;DCHD< RKG ;D HG<TCDUBG< ;DH EGKERC<GS I NBK ;D ITCDEBIC <R <DCBD;I;S <R< IKFDED;DKFD< ICFM<FBEG< Q <REITIEB;I; TICI HI DZDEREBLK ;D HI GYCI=

*K ERIKFG I HG< 'C^RBFDEFG< ^RD BKFDCWDKVIK Q KG TG<DIK FMFRHG DcTD;B;G G CDWIXHB;I;G DK HI &DTkYHBEIS ;DYDC\K TCD<DKFIC ;BTHGUI< G TCRDYI< YI<FIKFD<S I ZRBEBG ;D HI0GUB<BLKS ^RD ZR<FBNB^RDK <R EITIEB;I; F_EKBEI=

'CF= Aƒ v +G< EGKERC<IKFD< TCD<DKFIC\K FG;I< HI< TBDbI< ^RD <D DKRUDCIK DK HI<HDFCI< <BVRBDKFD<5I> RK YGEDFG ;D HI D<FIFRI DERD<FCDS DZDERFI;G DK QD<GS <BK T\FBKIS I HI D<EIHI ;D

f5f@=Y> 8KI [UI^RDFFD] ;DH DUTHIbIUBDKFG ;D HI D<FIFRI DK DH HRVIC <DdIHI;GS I HI

D<EIHI ;D f5f@@=E> +I EIYDbI ;D HI NBVRCI TCBKEBTIHS TGC <DTICI;GS DK DH FIUIdG ^RD EGCCD<TGK;I I

HI CDIHBbIEBLK ;DNBKBFBWI=;> 8KI TDC<TDEFBWI ;D HI D<FIFRI DERD<FCD ;BYRZI;I DK RK ERI;CG ;D j@ c i@=D> 8KI UDUGCBI DcTHBEIFBWI ;D HI EGKEDTEBLK ICFM<FBEI Q ;D<ECBTFBWI ;DH UGKRUDKX

FGS ;D <R DZDEREBLK Q ;D HG< UIFDCBIHD< I DUTHDIC<D= +I KGYHDbI ;D _<FG< ;DYDC\D<FIC ;D IERDC;G EGK HI BUTGCFIKEBI Q DH <BVKBNBEI;G ;DH .GKRUDKFG= ';DU\<;D HI< ;BUDK<BGKD< ;DYDC\K BK;BEIC<D DK HI UDUGCBIS HI IHFRCIS DH TD<G ;DH UGKRXUDKFGS DFE=

N> 8K TCD<RTRD<FG ;DFIHHI;G ;DH UGKRUDKFGS G <DI HI D<FIFRI DERD<FCDS TCGKFI TICI<DC BKIRVRCI;I DK DH HRVIC BK;BEI;GS DH ERIH TCD<RTRD<FG ;DYDC\ EGUTCDK;DCFIKFG DH TCGQDEFG ^RD DcTCD<D HI EGKEDTEBLK ICFM<FBEI EGK FG;I< HI< TBDbI< KDEDX<ICBI< DK ;BYRZG Q UG;DHI;GS EGUG HI CDIHBbIEBLK ;DH TCGQDEFG :UIFDCBIH Q UIKG;D GYCI UDKG< HG< EBUBDKFG<> Q HI ;BCDEEBLK ;D HI GYCI DZDCEB;I TDC<GKIH QTDCUIKDKFDUDKFD TGC DH IRFGC=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ppA

V> 8KI ;DEHICIEBLK <R<ECBFI TGC DH IRFGCS GYHBV\K;G<D I CDIHBbIC HI DZDEREBLK ;DHUGKRUDKFG :<BK HI EBUDKFIEBLK>S DK FG;G< <R< I<TDEFG< IC^RBFDEFLKBEG< Q D<ERHXFLCBEG<S TGC DH TCDEBG U\cBUG ;D ERIFCGEBDKFG< EBKERDKFI UBH TD<G<S UGKD;IKIEBGKIH RCRVRIQI= :x>

'CF= iƒ v +G< 'CFB<FI< TCD<DKFIC\K HG< YGEDFG< Q ;DU\< TBDbI< ;DH TCGQDEFG <BKHHDWIC BKFDCBGC KB DcFDCBGCUDKFD KGUYCDS BK<ECBTEBLKS HDUIS NBVRCI KB <DdIH IHVRKI ^RDTRD;I <DCWBC TICI B;DKFBNBEICHG<S KB ;DYDC\K ITICDEDC KGUYCD< KB <DdIHD< DK HI ;D<ECBTXEBLK ;D HG< TCGQDEFG< G DK HI DKWGHFRCIS DFE=

';DU\<S NGCUIK;G TICFD BK<DTICIYHD ;D RKI ;D HI< TBDbI<S DcFDCBGCUDKFDS <D EGHGXEIC\ RK <GYCD EDCCI;G Q HIECI;G EGK DH KGUYCD Q HI ;BCDEEBLK ;DH IRFGC G IRFGCD< ;DHTCGQDEFG :x>

'CF= sƒ v +I TCD<DKFIEBLK ;D HG< YGEDFG< IH EGKERC<G <BVKBNBEI IEDTFIEBLK ;D HI<TCD<DKFD< YI<D< TGC TICFD ;D HG< ICFB<FI<=

.GKFDWB;DGS IVG<FG ;D fgAA=!_EFGC '= 7DCGKIS3CD<B;DKFD=

#DCWIK;G *= 0I<FBHHG<S'HDZIK;CG 8VREEBGKBS#DECDFICBG<=

"O= '0*&0' )* +' *#$'$8' )* #".J, -%+6O'& ",'878&')'"O= *, +".' *, fjAgh

3DCG aIYC\ ^RD D<TDCIC aI<FI fjApS ERIK;G <D UIFDCBIHBbI DK &GUI HI ITDCFRCI ;DHEGKERC<G TIFCGEBKI;G TGC HI +DVIEBLK 3DCRIKI TICI DH UGKRUDKFG= 0GKERCCBDCGK ihD<ERHFGCD<S DKFCD DHHG< ;G< I<GEBI;G< ;D 0IKGWIS $I;GHBKB Q &BKIH;BS Q RK EGHIYGCI;GC;D $DKDCIKBS 2BHBTTG 7RIEICBKB= #R< TCGQDEFG< <D BUTR<BDCGK DK DH EGKZRKFGS Q EGUGFIH <D HD< BKWBFL I TCD<DKFIC DH CD<TDEFBWG ;B<DdG= #D NGCUL RK TI<FBEEBG G HMG5

[$I;GHBKB TCDVRKFL <B TG;MI aIEDC DH UG;DHG RK TGEG U\< VCIK;Dl DH ELK<RH ;D HI'EI;DUBI ;D #IK +REI< HD CD<TGK;BL ^RD KGS aIYBDK;G <B;G TCD<ECBFI HI UB<UI UD;BX;I TICI FG;G< HG< EGKERCCDKFD<= $I;GHBKB DZDERFL ;G< YGEDFG< DK HI UD;B;I TCD<ECBFI5RKG EGK DH EIYIHHG I FCGFDS Q GFCG IH VIHGTDS G <DI ;D EGCWDFIS EGUG ;BEDK HG< EIYIHHDXCBbG<=

['H HHDWIC HG< YGEDFG< I EI<I ;DH ELK<RHS DKEGKFCL ^RD HG< GFCG< EGKERC<IKFD<aIYMIK aDEaG <R< UG;DHG< DH ;GYHD ;D HI UD;B;I= *K ERIH^RBDC GFCG EDCFIUDK aRYBDXCIK <B;G ;D<EICFI;G<S TDCG DK D<FD EI<G KG GERCCBL I<Ml Q <D <RTG ^RD aIYMIK IEFRI;G;D EGUkK IERDC;G EGK DH ELK<RH=

[+I UB<UI UIdIKI <BDFD TCGND<GCD< ;D HI 'EI;DUBI IER;BDCGK I HI EI<I ;DH ELK<RH;GK;D D<FIYIK DcTRD<FG< HG< ERIFCG YGEDFG<= )D<TR_< ;D RK DcIUDK D<ECRTRHG<GS

h= 3",*)'S &INIDH= +I< D<FIFRI< ;D #BULK -GHMWIC DK DH URK;GS 0ICIEI<S 0DKFCG #BULK-GHMWIC 0= '=S fgjpS TT= sjXsg=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ppi

NRD DHDVB;G DH EIYIHHG IH VIHGTD ;D $I;GHBKB Q FIUYB_K DH TD;D<FIH TGC <R ZR<FI TCGTGCXEBLK :EGUG <D HDD DK DH IEFI CD<TDEFBWI>S DHDVIKEBI Q HI EGCCDEFI <BFRIEBLK ;D HG<YIZGCCDHBDWD<= 3DCG DH ELK<RH TCGTR<G I HG< ZRDED< CDEGUDK;IC I RKG ;D HG< EGKERXCCDKFD< TICI aIEDC DH TD;D<FIH ;D $I;GHBKB]S G <DI 7RIEEICBKB=

#DB< IdG< U\< FIC;DS DK fjAgS NRD ;DWDHI;G DH UGKRUDKFG DK +BUI= :x>+G< TGCUDKGCD< ;DH UGKRUDKFG Q ;D HI BKIRVRCIEBLK HG< FCID *H 0GUDCEBG ;D

+BUI5[*K fjAp DH ;GEFGC -ICFGHGU_ !DCCDCIS .BKB<FCG 3HDKBTGFDKEBICBG ;DH 3DCk DK HI

0GCFD &GUIKIS NRD DH DKEICVI;G ;D UIK;IC I EGK<FCRBC RKI D<FIFRI DERD<FCD ;D-GHMWICS ERUTHBDK;G I<M RKI HDQ ITCGYI;I DK fj?A= !DCCDCI EGKWGEL TGC HG< TDCBL;BXEG< I RK EGKERC<G ;D ICFB<FI< TICI HI EGKNDEEBLK ;D HI D<FIFRI Q ;DH TD;D<FIHS GYFDXKBDK;G HI TCDNDCDKEBI HI GYCI ;DH D<ERHFGC BFIHBIKG ';\K $I;GHBKBS ^RBDK aBbG DH UG;DHI;GDK QD<G TGC HI EIKFB;I; ;D h=A@@ TD<G<= +RDVG <D EGKFCIFL EGK DH IHDU\K .uHHDCS<RTDCBKFDK;DKFD ;D HI NRK;BEBLK ;D .RKBEaS HI NRK;BEBLK ;D HI D<FIFRI DK ff=@@@TD<G< Q HG< YIZGCCDHBDWD< DK j@@= *H EGKFCIFG ^RD;L DK <R<TDK<G aI<FI ^RD TGC<RTCDUG ;DECDFG ;DH p@ ;D UICbG ;D fjAs <D IRFGCBbL IH .BKB<FCG ;DH 3DCk DK +GKX;CD< TICI ^RD CDKGWICI EGK .uHHDC HI EGKFCIFI ;D HI NRK;BEBLKS ^RBDK <D EGUTCGUDFBLI DKFCDVIC HI D<FIFRI DK DH TRDCFG ;D 'U<FDC;IU TGC I ;BEaI <RUI ;D ff=j@@=== +ID<FIFRI TD<L ?p@ ^RBKFIHD< Q FRWG A WICI< ;D<;D DH TBD ;DH EIYIHHG aI<FI HI EIYDbI ;DH ZBKDFD===

[*H TD;D<FIH ;D U\CUGH NRD GYCI ;DH ICFB<FI CGUIKG 2DHBTD 7RIEEICBKBS IH ERIH HD;BDCGK A=A@@ TD<G< TGC DHHG= $BDKD FCD< VCI;I<= +G< CDHBDWD< CDTCD<DKFIK5 DH ;D HI;DCDEaIS HI -IFIHHI ;D 'QIEREaGl Q DH ;D HI Bb^RBDC;IS HI ;D eRKMK= *K DH UB<UGTD;D<FIH D<F\K BKECR<FI;G< ;G< CDHBDWD< DK YCGKED= *H ;D I;DHIKFD FBDKD HI <BVRBDKFDBK<ECBTEBLK5 ' #".J, -%+6O'& +"-*&$')%& )* +' ,'0"J, 3*&8',' 'P%.)000+O""= *H ;D IFC\< FBDKD DH *<ER;G ,IEBGKIH= +I IHFRCI ;DH TD;D<FIH D< ;D AWICI<S <R HICVG i Q <R IKEaG pS KG EGKFIK;G HI< VCI;I<=== *H EG<FG FGFIH ;D HI D<FIFRISBKEHRB;G< HG< VI<FG< ;D EGK;REEBLK Q EGHGEIEBLKS NRD ;D ??=?Af=

*K fgiA RK Y\CYICG EDCEDKL DK DH CDHBDWD ;D eRKMK HI EIYDbI Q HI D<TI;I ;D-GHMWICS EGUG HG CDNBCBL $CBKB;I; .GCIK :+DGKIC;G 'HFRWD 0ICCBHHG> DK *H ,IEBGKIH ;DHf„s„fgiAS Q DK *HBFD ;DH f„h„fgis= -CRKG 0IUTIBGHI HG CDTR<GS Q HRDVG EGTBL ;G<WDED< HG< ;G< CDHBDWD<S TDCG DK YCGKED= #GK HG< UB<UG< ^RD aGQ D<F\K DK DH 3IKFDLK;D HG< 3CLEDCD< ;D +BUIS Q DK DH .R<DG ;D qRBKRI :'QIEREaG>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pps

0'36$8+% 8,)/0".%3'"#'e*S 0%#$8.-&*# * ",)"7*,"#.%

f= +%# O"'e*&%# )*+ &%.',$"0"#.% *8&%3*%S [)*#08-&")%&*#]f= )*+ 3'"#'e* '.*&"0',%

+G< V_KDCG< ;D TIB<IZD Q EG<FRUYCD< aIK <B;G FDUI< EDKFCIHD< DK HI TCG;REEBLKICFM<FBEI IUDCBEIKI ;D HG< <BVHG< `"` Q ``S D BK;R;IYHDUDKFD <BCWDK ;D DZD CDNDCDKEBIHTICI DKFDK;DC EBDCFG< EIUBKG< ;DH ICFD DK DH EGKFBKDKFD= #GYCD D<I EGKFBKRB;I; ^RDIUYG< V_KDCG< aIK FDKB;GS Q <DVkK HI< _TGEI<S <D aIK THIKFDI;G ;BWDC<I< WBEB<FR;D<Q EIUYBG< FIKFG DK HI< UGFBWIEBGKD< ^RD HG< TCGTBEBICGKS HI< F_EKBEI< YIZG HI< ERIHD<<D DcTCD<ICGK Q aI<FI HG< ;B<ERC<G< B;DGHLVBEG< ^RD HG <R<FDKFICGK= *K D<FD EITMFRHGI<TBCIUG< I D<HIYGKIC RKI <DCBD ;D YHG^RD< FDU\FBEG< ^RD TDCUBFIK WB<HRUYCICS IFCIW_< ;D RK GC;DKIUBDKFG ECGKGHLVBEGS RKI B;DI VDKDCIH <GYCD D<FG< I<TDEFG< NRK;IXUDKFIHD< ;DH ICFD HIFBKGIUDCBEIKG=

3G;CMIUG< BKBEBIC D<FD CDEGCCB;G TGC DH TIB<IZD Q HI< EG<FRUYCD<S Q <R TCD<DKEBI DKHI TBKFRCI IUDCBEIKIS DK HI _TGEI ;D HI "HR<FCIEBLK= 8KI EBFI BKDHR;BYHD <DCMIK HI<DcTD;BEBGKD< ^RD DH <IYBG D<TIdGH eG<_ 0DHD<FBKG .RFB< CDIHBbICMI I NBKIHD< ;DH `O"""Q ^RD ;ICMIK EGUG CD<RHFI;G HI UGKRUDKFIH GYCI FBFRHI;I 2HGCI ;D -GVGF\ = *K DHHI <DaBbG RK IEDCEIUBDKFG I HI KIFRCIHDbI ;D<;D RK TRKFG ;D WB<FI EBDKFMNBEGS FIH EGUGUIK;IYIK HG< E\KGKD< TG<BFBWB<FI< ;D HI _TGEI= *H -ICLK 'HDcIK;DC WGK !RUYGH;FaIYCMI ;D EGKWDCFBC<D DK DH VCIK TCGTRH<GCS DK *RCGTIS ;D HG< WBIZD< I 'U_CBEIS IFCIW_< ;D <R ;BNRK;B;I< GYCI< D<ECBFI< D BHR<FCI;I<S TCGTBEBIK;G HI WDKB;I ;D KRUDCGX<G< D<FR;BG<G< Q ICFB<FI< ^RD aIYCMIK ;D <RCEIC ;RCIKFD DH `"` DH EGKFBKDKFD= ' _H <D;DYDS DKFCD GFCG< UREaM<BUG< I<TDEFG<S DH aIYDC DcIHFI;G HG< WGHEIKD< IUDCBEIKG<EGUG CDNDCDKEBI TIB<IZM<FBEI ;D TCBUDC GC;DKS HG ERIH ;ICMI GCBVDK I RKI IUTHBI BEGKGXVCINMI ;D HG< UB<UG<=

*K D<FD ;DCCGFDCG ICFM<FBEGS RK TITDH ;D DcEDTEBLK aIYCMI ;D ZRVICHG -CI<BHS ERQI<BFRIEBLK aB<FLCBEGXTGHMFBEIS Q TGC DK;D ERHFRCIH Q ICFM<FBEIS aIYCMI ;D FDKDC <BKVRHICB;IX;D< <BK TICIKVLK= *K DNDEFGS DK fj@j <D TCG;RZG DH FCI<HI;G ;D HI EGCFD TGCFRVRD<I;D<;D +B<YGI I &MG ;D eIKDBCGS EBR;I; ^RD <D EGKWBCFBL DK HI EITBFIH ;DH "UTDCBGl DCI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ppj

HI TCBUDCI WDb ^RD HI TDCBNDCBI :'U_CBEI> <D EGKWDCFMI DK EDKFCG= $CI< HI BK<FIHIEBLK ;DHI EGCFD DK -CI<BHS _<FI FGUL HI< UD;B;I< ^RD EGK<B;DCL KDED<ICBI< TICI D<FIYHDEDC RKUG;DHG ;D <GEBD;I; ^RD NRDCI <BUBHIC IH WBWB;G DK *RCGTI= *K HG ERHFRCIH DH TRKFGERHUBKIKFD aIYCMI ;D <DC DH ICCBYGS DK fjfiS ;D HI HHIUI;I [.B<BLK 2CIKED<I] EGUXTRD<FI TGC ICFB<FI< EGUG DH IC^RBFDEFG 7CIK;ZDIK ;D .GKFBVKQ G HG< TBKFGCD< eDIK-ITFB<FD )DYCDF G 'KFGBKD $IRKIQS FG;G< DHHG< EGK<B;DCI;G< ;D TCBUDC GC;DK ;DKFCG;D HI< IEI;DUBI< TICB<BKI< ^RD WBWMIK RKI _TGEI ;D D<THDK;GC DK I^RDHHG< FBDUTG<=

*K DH EI<G ;D HG< TBKFGCD<S ^RBb\ DH U\< CDHDWIKFD FDCUBKL <BDK;G )DYCDFS KG <GHIXUDKFD TGC <R< GYHBVIEBGKD< EGUG TCGND<GC ;D [3BKFRCI ;D !B<FGCBI] DK HI NRK;I;I'EI;DUBI ;D &MG ;D eIKDBCGS IEFBWB;I; ^RD NRD TBGKDCI DK DH EGKFBKDKFDS IKFBEBT\K;GX<D DK WICBI< ;_EI;I< IH BKFDC_< TRD<FG TGC D<FI< FDU\FBEI< DK GFCG< TIM<D<S <BKG FIUXYB_K TGC HI< GYCI< CDIHBbI;I< IHHM= )D<FIEIK DKFCD GFCI< WICBI< D<EDKI< WBKERHI;I< I HINIUBHBI BUTDCBIHS I UIKDCI ;D WDC;I;DCG TBKFGC ;D EGCFDS TDCG U\< ^RD KI;I HG< TIB<IX ZD< Q D<EDKI< EG<FRUYCB<FI< ^RD TBKFL Q ;BNRK;BL I FCIW_< ;D TRYHBEIEBGKD< TCGTBI<DK *RCGTIS DZDERFI;I< ;RCIKFD <R< FCIQDEFG< TGC DH BKFDCBGC ;DH TIM<= *K HI< UB<UI< KGTCDFDK;DS EGUG GFCG< UREaG< ICFB<FI< ;D <R _TGEIS ;IC RKI BUIVDK ;D DcGFB<UG G ;D[<IHWIZD ICUGKMI]S <BKG CDTCD<DKFIC HG ^RD CDIHUDKFD WDMI= .REaG< ;D HG< ICFB<FI<WBIZDCG< DRCGTDG< TDC<DVRMIK EGUG NBKIHB;I; WDC DK 'U_CBEI RKI <RDCFD ;D TICIB<GSRKI ICEI;BI BKEGKFIUBKI;IS DH CDBKG ;DH YRDK <IHWIZDl DK RKI _TGEI DK ^RD *RCGTIYREDIYI DK <R< TCGTBI< CIMED< TICI DKFDK;DC <R< GCMVDKD< Q <R DWGHREBLKS RKI WB<FI IHG< TRDYHG< TCBUBFBWG< <BVKBNBEIYIS <DVkK <R DKFDK;BUBDKFGS EGUTCDK;DC ;BEaG< BKBXEBG< ;D HI TCGTBI EBWBHBbIEBLK= '<M <D NRD ECDIK;G <GYCD 'U_CBEI RKI UBCI;I BKFDKEBGXKI;IS IHDZI;I ;D HI CDIHB;I;S EGUTHIEBDKFD ;D IZDKI< NBKIHB;I;D<= '<BUB<UG aIQ ^RDITRKFIC ^RD IHVRKG< TIM<D<S DK D<TDEBIH 2CIKEBIS ^RDCMIK ;BNRK;BC CD<TDEFG ;D 'U_CBEIRKI BUIVDK EIS Q UICEIK;G

e*', -'3$"#$* )*-&*$= *+ )*#*.-'&0% )* )%P' +*%3%+)",' :fjfs>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# ppg

HI DcB<FDKEBI ;D RK FDCCBFGCBG HBYCD TICI ERHFRCIHBbICS GYCI I HI ^RDS DKFDK;MIKS DHHG<D<FIYIK HHIUI;G<= *<FI <BFRIEBLKS ;D ERIH^RBDC UIKDCIS KG ;DYD FGUIC<D EGUG DcEHRXQDKFDl ICFB<FI< NCIKED<D<S TGC EI<G DH TCGTBG )DYCDF G DH -ICLK 7CG< IdG< ;D<TR_<SCDNHDZICGK DK <R< GYCI< HI aRDHHI BY_CBEI :TGCFRVRD DK <R< GYCI<=

-CI<BH <D EGKWBCFBL DK RKG ;D HG< TRKFG< ;D HHDVI;I ;D WICBG< ;D HG< WBIZDCG< ^RDHRDVG <D BKFDCKICGK DK HG< GFCG< TIM<D< ;DH EGKFBKDKFD= #BK HRVIC I ;R;I< TG;DUG<INBCUIC ^RD DH U\< BUTGCFIKFD ;D FG;G< NRD DH IHDU\K eGaIKK .GCBFb &RVDK;I<SICCBYI;G IH -CI<BH DK fj?f EGUG BKFDVCIKFD ;D HI DcTD;BEBLK ;DH -ICLK OGK +IKV<X;GCNN= &RVDK;I< FCIMI EGK<BVG RK YIVIZD BUTGCFIKFDS DK D<TDEBIH RKI <LHB;I NGCUIEBLKICFM<FBEI DK HI< IRHI< ;D HI 'EI;DUBI ;D .RKBEa= *K 'U_CBEI IVCDVL HG ;DU\<5 RKD<TMCBFR IWDKFRCDCG ^RD HD HHDWL I CDEGCCDC EI<B FG;G< HG< TIM<D< ;DH EGKFBKDKFDS ;D<;DDH &MG ;D HI 3HIFI I ._cBEGS Q ;DZIK;G TICI HI TG<FDCB;I; KRUDCG<M<BUI< GYCI< DZDERXFI;I< DK D<G< <BFBG<= &RVDK;I< IHEIKbL RK DKFDK;BUBDKFG ;D HG IUDCBEIKG ^RD KGHGVCICGK UREaG< ;D HG< WBIZDCG<5 <R BKWGHRECIEBLK <GEBIH DK HG< TIM<D< ^RD WB<BFLS <REGUTDKDFCIEBLK EGK HI< VDKFD< Q EG<FRUYCD<S NRD ;D<WBIK;G RKI BKBEBIH UBCI;I [IZDXKI]S ;D [DcFCIKZDCG] aIEBI RKI WB<BLK ^RDS TICFBDK;G ;DH EGKGEBUBDKFG ;D [HG D<DKXEBIH]S HD TDCUBFBL UG<FCIC [;D<;D ;DKFCG]=

+I BUTGCFIKEBI ;D HG< WBIZDCG< Q <R FCIYIZG DK HI< EBR;I;D< Q DK IHVRKG< \UYBFG<CRCIHD<S I;DU\< ;D HI VCI;RIH ;BNR<BLK I FCIW_< ;D HI HBFGVCINMI Q HI< CDWB<FI< BHR<FCI;I<^RD EGUDKbICGK I EBCERHIC EGK TCGNR<BLK ;RCIKFD DH `"`S NRD IFCIQDK;G HI< KIEBDKFD<WGEIEBGKD< ICFM<FBEI< IUDCBEIKI<S NRK;IUDKF\K;G<D <GYCD DHHI HI HIYGC ;D EG<FRUYCB<XFI< IRFLEFGKG<S DK ERQI< GYCI< <D BUTGKD D= ",$*&"%& )* 2+%&*#$' :0=fjA@>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# phf

IUDCBEIKG= 0RCBG<IUDKFD IHVRKG< ;D D<FG< ICFB<FI< WBDCGK <R TCGTBI CDIHB;I; KG <BKIKFD< TI<IC TGC D<D TCB<UI [DRCGTDG] ^RD aIYMIK ITCDaDK;B;G DK EGKFIEFG EGK HG<WBIZDCG<S EGUG S .DHEaGC.ICMI .DCEI;G DK -GHBWBIS &IULK $GCCD< ._K;Db DK 0GHGUYBIS eRIK 'VR<FMK 7RDXCCDCG DK *ERI;GCS eG<_ .ICMI *<FCI;I DK ._cBEG G [.BVRDHbBKaG] )RFCI DK -CI<BHSTGC EBFIC <LHG RK TRdI;GS FD<FBUGKBICGK RKI DcTCD<BLK IRF_KFBEI= *H TIB<IZD Q HI<EG<FRUYCD< NRDCGK GERTIK;G BKEHR<BWD HG< D<TIEBG< IEI;_UBEG<S DK D<TDEBIH I NBKIHD<;DH `"` Q DK HI< TCBUDCI< ;_EI;I< ;DH ``S IHEIKbIK;G RK CD<TIH;G GNBEBIH ^RD <BCWBLTICI RKI ;BNR<BLK IRK U\< IUTHBI=

?= $&',#2%&.'0"%,*# *#$/$"0'# 3'&' +' 0&*'0"J, )* 8,'?= ")*,$")') 3+4#$"0' '.*&"0',' :fg@@Xfgp@>

+I TBKFRCI ;D TIB<IZD< Q HI EG<FRUYCB<FI VGbICGKS DK HI< TCBUDCI< ;_EI;I< ;DH <BVHG``S KG <GHIUDKFD EGK RKI EGKFBKRB;I; DK ERIKFG I HG FDU\FBEGS ^RD aRK;MI <R< CIMED<DK HI EDKFRCBI IKFDCBGCS <BKG EGK RKI KRDWI D;I; ;D GCG DK HI ^RD D<FI< CDTCD<DKFIEBGXKD< <BCWBDCGK EGUG YI<IUDKFG BEGKGVC\NBEG ;D HI< B;DGHGVMI< KIEBGKIHB<FI< Q IUDCBEIXKB<FI< ^RD D<FRWBDCGK DK YGVI DK I^RDHHG< IdG<= *H D<FIHHB;G ;D HI VRDCCI DRCGTDI ;DHfh UICEICMI HI ;DYIEHD ;DH UG;DHG ERHFRCIH DRCGTDGS aI<FI DKFGKED< EI<B BK;B<ERFBYHDSQ TGFDKEBICMI RKI WB<BLK BKFCG<TDEFBWI ;D HI aB<FGCBI Q ;DH TCD<DKFD TICI HG< BKFDHDEFRIXHD< Q ICFB<FI< IUDCBEIKG<S ^RD WBDCGK HI KDED<B;I; ;D INBCUIC I FCIW_< ;D <R< ECDIEBGXKD< RKI B;DKFB;I; KIEBGKIH Q EGKFBKDKFIH5 DH TIB<IZD Q HI< EG<FRUYCD< HD< ITGCFIYIKRK UD;BG FDKFI;GC Q W\HB;G TICI D<I< Yk<^RD;I<=

*K ERIKFG I HI< ERD<FBGKD< D<F_FBEI<S HG< KRDWG< ITGCFD< FCIM;G< ;D<;D *RCGTI TGCI^RDHHG< TCBWBHDVBI;G< ICFB<FI< ^RD aIYMIK FDKB;G HI <RDCFDS TGC HG VDKDCIH I FCIW_< ;DIQR;I< GNBEBIHD<S ;D EGKFBKRIC D<FR;BG< DK HI< IEI;DUBI< BFIHBIKI< Q NCIKED<I< <GYCDFG;GS TDCUBFBDCGK RK IEDCEIUBDKFG U\< D<FCDEaG I HG< IWIKED< ^RD <D D<FIYIK TCG;RXEBDK;G DK HG< EDKFCG< KDRC\HVBEG< ;D TCG;REEBLK ICFM<FBEI= '<M NRDCGK HHDVIK;G HG<CD<IYBG< ;DH BUTCD<BGKB<UG NCIKE_<S ;D HG< [UIEEaBIBGHB] G [UIKEaB<FI<] BFIHBIKG<S QSDK ;DNBKBFBWIS ;D GFCI< EGCCBDKFD< HRUBKB<FI< ^RD IYCBDCGK HI< TRDCFI< ;DH FIHHDC ;IK;GTI<G I RKI KRDWI EGKEDTEBLK ;D HI DcTCD<BLK TIB<IZM<FBEIS ;D FCIYIZG IH IBCD HBYCD= +ITBKFRCI ;D TIB<IZD BKEGCTGCL I<M RKI KRDWI EIUI;I ;D ICFB<FI<S TR;BDK;G EBFIC<D IHVRXKG< EI<G< CDHDWIKFD< EGUG HG< ;D eGI^RMK 0HIR<DHH DK ._cBEGS 'HYDCFG OIHDKbRDHI+HIKG< DK 0aBHD G 2DCKIK;G 2I;DC DK HI 'CVDKFBKIS ^RD UG<FCICGK RKI KGWD;G<IUIKDCI ;D BKFDCTCDFIC HI KIFRCIHDbIS <BK ;D<;DdIC I^RDHHG< EGKFDKB;G< KIEBGKIHB<FI<=

*K ODKDbRDHI DH TIB<IZB<UG EGUG FDU\FBEI ^RD;L WBKERHI;G I HI< ^RD <D EGK<B;DXCICGK KRDWI< EGCCBDKFD< D<F_FBEI<S BUTGKB_K;G<D <BK UIQGCD< EGKNHBEFG< ;DYB;G ^RBb\I HI NIHFI ;D RK \UYBFG ICFM<FBEG EGK<GHB;I;G Q I ^RD DH EIUYBG HG CDIHBbICGK <BURHF\XKDIUDKFD WICBG< ICFB<FI<= *<FG GERCCBL TGEG IKFD< ;D BKBEBI;I HI ;_EI;I ;DH ?@S Q DKDHHG FRWBDCGK ^RD WDC DH CRUIKG #IUQ< .uFbKDC ^RD DcTR<G DK 0ICIEI< DK fgfjS*UBHBG -GVVBGS THDBKIBCB<FI WDKDbGHIKG CI;BEI;G DK 3ICM< ^RD HG aBbG IH IdG <BVRBDKFDSQ DH CR<G ,BEGH\< 2DC;BKIK;GWS BKFDCD<I;G TGC HI KIFRCIHDbI FCGTBEIH Q HG< DNDEFG< ;DHRb= )D HG< ^RD WBKBDCGK I EGKFBKRIEBLK <GYCD<IH;CMI 'CUIK;G &DWDCLKS ^RBDK DK <R<



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ph?

2*&,',)% 2')*& :'&7*,$",'>= #*,)*&% 2+%&")% :fgfj>=

.',8*+ 0'-&/ :O*,*98*+'>= 3'"#'e* )*+ 4O"+' :fghf>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# php

TIB<IZD< EICBYDdG< TGFDKEBICMI HI HRb ;D FIH UIKDCIS ;BHRQDK;G HI< NGCUI< ;D HI KIFRCIXHDbI aI<FI ;IC HRVIC I [VCIK;D< UI<I< ;D WBYCIEBGKD< YHIKEI<] IH ;DEBC ;DH ECMFBEG'HNCD;G -GRHFGK= .IKRDH 0IYC_ <DCMI IRFGC ;D BKFDCD<IKFD< <DCBD< BK<TBCI;I< DK DH.GKFD 4WBHI ^RD <D EGKWBCFBL DK RKG ;D HG< aBFG< TICI;BVU\FBEG< ;DH TIB<IZD WDKDbGXHIKGS EGUG HG NRDCGK DK HG< UB<UG< IdG< HI <IYIKI DK 0GHGUYBIS DH "HHBUIKB DK -GHBWBI:CDTCD<DKFI;G DK KRUDCG<I< GEI<BGKD< TGC 'CFRCG -GC;I>S G HI< <BDCCI< ;D HI TCGWBKEBI;D 0LC;GYI DK HI 'CVDKFBKI :<BVRBDK;G DH UIVB<FDCBG ;DH QI EBFI;G 2I;DC>=

*K HI< EGCCBDKFD< TBEFLCBEI< KIEBGKIHB<FI<S Q DK D<TDEBIH DK HI< WBKERHI;I< IH EG<XFRUYCB<UGS KG ;DYD <G<HIQIC<D DH TITDH ZRVI;G TGC HI< ECDEBDKFD< DcTG<BEBGKD< ;DICFD DRCGTDGS <GYCD FG;G D<TIdGHS NCIKE_<S BKVH_< D BFIHBIKGS ^RD EGUDKbICGK I <REDX;DC<D DK HI< EITBFIHD< IUDCBEIKI< ;D U\< CDKGUYCDS EGUG -RDKG< 'BCD<S #IKFBIVG ;D0aBHDS &MG ;D eIKDBCGS +I !IYIKI G ._cBEGS ;D HG ^RD <GK FD<FBUGKBG HI< IUTHBI<EGHDEEBGKD< ;D TBKFRCI ;D D<I< TCGED;DKEBI< ^RD <D aIHHIK DK EGHDEEBGKD< TkYHBEI< QTCBWI;I< ;DH EGKFBKDKFD= #B YBDK DH TGEDKFIZD ;D GYCI< [BKKGWI;GCI<] I;^RBCB;I< DKI^RDHHI< _TGEI< KG NRD ;DUI<BI;G IHFGS <BCWBDCGK IH UDKG< ;D CDNDCDKEBI ;BCDEFI TICIHG< ICFB<FI< DK NGCUIEBLK= *cTG<BEBGKD< EGUG HI< EDHDYCI;I< DK fgf@ DK -RDKG< 'BCD<S#IKFBIVG G ._cBEGS EGKUDUGCIFBWI< ;D HG< EDKFDKICBG< ;D HI "K;DTDK;DKEBIS TDCUBXFBDCGK HI TCD<DKFIEBLK ;D EGKZRKFG< U\< WICBI;G< Q KGWD;G<G< HHDVI;G< ;D<;D *RCGXTIS Q HI TG<BYBHB;I; ;D IEHICIC U\< IRK DH TIKGCIUI Q [TGKDC<D IH ;MI]=

'<MS UG;IHB;I;D< EGUG HI [TBKFRCI CDVBGKIHB<FI] D<TIdGHIS EGK ICFB<FI< EGUG "VKIXEBG 9RHGIVIS 2DCKIK;G 'HWICDb ;D #GFGUIQGCS 'KFGKBG %CFBb *EaIVuDS HG< 9RYBIRCCDG eG<_ .ICMI +LTDb .Db^RBFIS DKFCD UREaG< GFCG<S TDCUBFBDCGK DH IEED<G I RK HDKVRIX ZD D<F_FBEG <GYCD HI YI<D ;DH ERIH ICFB<FI< EGUG eGCVD -DCUk;Db DK HI 'CVDKFBKIS eG<_#IYGVIH DK DH 3DCkS 0DEBHBG 7RbU\K ;D &GZI< G #IFRCKBKG !DCC\K DK ._cBEGS ;DZICMIKFD<FBUGKBG ;D HG< FBTG< EG<FRUYCB<FI< Q HI< FCI;BEBGKD< ;DH aGUYCD IUDCBEIKG= +IaRDHHI D<F_FBEI ;D HG< D<TIdGHD< DK 'U_CBEIS I<B EGUG HI HIYGC ;D IUDCBEIKG< DK HI3DKMK<RHIS <DC\K FDUI< ^RD <D IYGC;IC\K DK EITMFRHG TG<FDCBGC= +I< FDU\FBEI<S DK ERIHX^RBDC UG;GS WICBICGK ;D TIM< DK TIM<5 DK HI UIQGC TICFD ;D HG< UB<UG< <D BUTR<G HIBUIVDK ;DH BK;MVDKI EGUG FBTG TICI;BVU\FBEGS IRK^RD DK EI<G< EGUG DH ;D HI 'CVDKXFBKIS NRD DH VIREaGS TDC<GKIZD HDVDK;ICBG TGC IKFGKGUI<BIS DH ^RD GERTL RK TCGFIVGXKB<UGS IHEIKbIK;G DH TRKFG U\< \HVB;G EGK HI GYCI ;D 0D<\CDG -DCKIH;G ;D qRBCL<=

*K -CI<BHS aIEBI UD;BI;G< ;D HI <DVRK;I ;_EI;I ;D <BVHGS RK VCRTG ;D HBFDCIFG< QICFB<FI< EGUDKbL I aIEDC aBKEITB_ DK HI KDED<B;I; ;D ;DNBKBC RKI EGKEBDKEBI KIEBGKIH^RD <D WBD<D CDNHDZI;I DK <R< TCG;REEBGKD<= *H D<ECBFGC %<tIH; ;D 'K;CI;D TRYHBEL DK#…G 3IRHG DH <BVKBNBEIFBWG FDcFG FBFRHI;G *K TCG ;D RKI TBKFRCI KIEBGKIH :fgfA>S I HG^RD <RED;BLS ;G< IdG< ;D<TR_<S HI CDEGC;I;I DcTG<BEBLK ;D 'KBFI .IHNIFFBS ^RBDK IFCIW_< ;D GYCI< ;D EHICI BKEHBKIEBLK NIRWB<FI FCIM;I< ;D<;D ,RDWI 1GCnS UICEL DHEIUBKG ;D HI CDKGWIEBLK= *H [UG;DCKB<UG] YCI<BHDdG <D INBCUL ERIK;G IUYG<S ZRKFGI *UBHBIKG )B 0IWIHEIKFBS OBEFGC -CDEaDCDFS Q OBEDKFD ;G &DVG .GKFDBCG DKFCD GFCG<ICFB<FI< HHDWICGK I EIYG DK DH $DIFCG .RKBEBTIH ;D #…G 3IRHG HI HHIUI;I [#DUIKI ;D'CFD .G;DCKG] DK fg??= 0GK D<FI EDHDYCIEBLKS EGBKEB;DKFD EGK DH 0DKFDKICBG ;D HI"K;DTDK;DKEBI ;DH TIM<S D<FG< ICFB<FI< ;DEHICIYIK HI ["K;DTDK;DKEBI ERHFRCIH ;DH -CIX<BH]S <BDK;G <R BKFDKEBLK ECDIC KRDWI< WMI< ;D DcTCD<BLK EITIED< ;D UG<FCIC HI ;BWDCX<B;I; ERHFRCIH ;DH TIM< I FCIW_< ;D RKI <MKFD<B< ;D HI< UB<UI<S Q ^RD _<FI< UICEICIKS IFCIW_< ;D HI< UIKBND<FIEBGKD< ICFM<FBEI<S RKI B;DI ;D TCGVCD<G=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$phh

*<FI B;DGHGVMI FRWG EGKFBKRB;I; TGEG ;D<TR_< ERIK;G 'K;CI;D D<ECBYBL DH .IKBX NBD<FG 3IRX-CI<BH S TCGTGKBDK;G HI CDWIHGCBbIEBLK ;D HG YCI<BHDdG I FCIW_< ;D EHIWD< ;DH

ICFD EGKFDUTGC\KDG= +I GYCI ;D OBEDKFD ;G &DVG .GKFDBCG QI UG<FCIYI <R BKFDC_<DK HI Yk<^RD;I ;D HI< CIMED< KIFBWI<S HG UB<UG ^RD HI TICI;BVU\FBEI NBVRCI ;D $IC<BHI

$'&#"+' )% '.'&'+ :-&'#"+>= *#$'0"J, 0*,$&'+ )* 2*&&%0'&&"+ )* -&'#"+ :fg?h>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# phA

;G 'UICIHS ^RD RFBHBbIK;G TCBKEBTBG< ;DH ERYB<UGS ECDL HI <DCBD ;D 'KFCGTGNIVBI< S DK HI^RD TCGTGKMI ^RD HG< HDKVRIZD< ICFM<FBEG< HHDVI;G< ;D HG< EDKFCG< BKFDCKIEBGKIHD< NRDXCIK IY<GCYB;G< G [DKVRHHB;G<] TGC HG TCBUBFBWG= 3GC <R TICFDS *UBHBIKG )B 0IWIHEIKFB<D BKFDCD<L TGC HI URZDC URHIFI YCI<BHDdI Q TGC HI< D<EDKI< ;D HI WB;I EGFB;BIKI ;D <RTIM<S WIHB_K;G<D ;D RK HDKVRIZD NGCUIH I WDED< EICBEIFRCD<EG=

p= ",)"7*,"#.% * ",)"7*,"#.%# *, './&"0'

*KUICEI;I< ;DKFCG ;D HI HMKDI ;D CDTCD<DKFIEBLK ;DH aIYBFIKFD IRFLEFGKG ;DH EGKXFBKDKFDS ;D <R< EG<FRUYCD< Q <R< FCI;BEBGKD<S ;DYDUG< EGK<B;DCIC I HI< EGCCBDKFD< ;D HITBKFRCI BK;BVDKB<FI= *<FI D<S BK;R;IYHDUDKFDS RKG ;D HG< TICI;BVUI< ICFM<FBEG< ;DUIQGC FCI<EDK;DKEBI I KBWDH EGKFBKDKFIH= +G< FD<FBUGKBG< ;DH BK;BVDKB<UG TBEFLCBEGWICMIK <DVkK HI VDGVCINMI DK ^RD <D EGKECDFIKS HI D<F_FBEI YIZG HI< ^RD <D UIKBNBD<FIKSG HI< B;DGHGVMI< DK HI< ^RD <D <R<FDKFIK= 3G;CMIUG< UDKEBGKIC VCG<<G UG;G ;G<VCIK;D< FDK;DKEBI<S DK TCBUDC HRVIC RK BK;BVDKB<UG ERQG GYZDFBWG TCBKEBTIH NRD HICDERTDCIEBLK ;DH IYGCBVDK EGUG GYZDFG TRCIUDKFD TH\<FBEGS Q GFCI WDCFBDKFD ^RD FRWGEGUG NBKIHB;I; HI CDBWBK;BEIEBLKS DK EI<G< ;D EHICG FBKFD EGUYIFBWGS ;DH BK;MVDKIaB<FLCBEIUDKFD GTCBUB;G= *K DH kHFBUG ;D HG< EI<G<S NRD DK ._cBEG ;GK;D <D UIKBND<FL;D NGCUI U\< DWB;DKFDS EGK DH UGWBUBDKFG URCIHB<FI v;DH ^RD aIYHICDUG< U\< I;DXHIKFDvS ^RD NRD YR^RD BK<BVKBI ;D RK IUTHBG TCGVCIUI HHDWI;G I EIYG ;D<;D HI#DECDFICMI ;D *;REIEBLK 3kYHBEI BK<FIRCI;I TGC eG<_ OI<EGKEDHG<= *<ERDHI< ;D 3BKFRXCI IH 'BCD +BYCD G ;D D<ERHFRCI ;D $IHHI )BCDEFIS URD<FCIK DH BKFDC_< TGC BKEGCTGCIC IHBK;MVDKI I HI <GEBD;I; I FCIW_< ;DH GNBEBG Q HI ECDIEBLK ICFM<FBEI=

*H .RCIHB<UG .DcBEIKG FRWG DK )BDVG &BWDCIS eG<_ 0HDUDKFD %CGbEG Q )IWB;'HNICG #B^RDBCG< I <R< FCD< NBVRCI< DcBUBI<S IRK ERIK;G GFCG< ICFB<FI< EGUG 2DCKIK;G+DIHS eDIK 0aICHGFS `IWBDC 7RDCCDCGS 2DCUMK &DWRDHFI< G &GYDCFG .GKFDKDVCG CDIHBbIXCGK NCD<EG< ;D IHFI EIHB;I; ICFM<FBEI Q TCGNRK;G EGKFDKB;G <GEBIH= 'CFD TGHMFBEIUDKFDEGUTCGUDFB;GS DH .RCIHB<UG TR;G EGK<GHB;IC<D EGK HI BKD<FBUIYHD IQR;I ;DH VGYBDCXKGS BKFDCD<I;G DK INBCUIC RK B;DICBG KIEBGKIHB<FI FCI< HG< IdG< ;D HI &DWGHREBLK= 2RD_<FD DH TRKFG ;D ITGQG TICI ^RD HG< ICFB<FI< ;D<ICCGHHICIKS I TICFBC ;D HI< TCDUB<I<B;DGHLVBEI< Q FDU\FBEI< BUTRD<FI< TGC HG< EGUBFDKFD<S <R< TCGTBG< D<FBHG< ICFM<FBEG<=+G< EBEHG< ;D URCIHD< DK HI *<ERDHI ,IEBGKIH 3CDTICIFGCBI Q DK HI #DECDFICMI ;D *;RXEIEBLK 3kYHBEIS IUYG< DK HG< IdG< ?@ Q EGK HI TICFBEBTIEBLK ;D WICBG< ;D HG< KGUYCIX;G<S NRDCGK ;G< ;D HI< U\cBUI< DcTCD<BGKD< ;DH UGWBUBDKFG=

0GBKEB;BDK;G EGK HI NBDYCD URCIHB<FI I HI ^RD EGUTHDUDKFL Q YCBK;L UIFDCBI ;DBK<TBCIEBLKS <D TCG;RZG RKI CDWIHGCBbIEBLK ;DH ICFD TCDEGHGUYBKGS GCVIKBb\K;G<D EGXHDEEBGKD< ;D TBDbI< IC^RDGHLVBEI<S ;BWRHV\K;G<D U_FG;G< ;D ;BYRZG GCKIUDKFIH UDcBEIKGEGUG DH ;D ';GHNG -D<F .IRVIC;S CD<EIF\K;G<D HI FCI;BEBLK ;D HI< ICFD< TGTRHICD< vHG ERIH UREaG ;DYD IH )C= 'FHvS QS DK D<TDEBIHS I FCIW_< ;D HI TCG;REEBLK ;D GYCI<ICFM<FBEI< EGUG HI< TBKFRCI< ;D 2CIKEB<EG 7GBFBIS HI< NGFGVCINMI< ;D !RVG -CDaUD GIHVRKI< D<ERHFRCI< ;D +RB< %CFBb .GKI<FDCBG Q ;DH EGHGUYBIKG &LURHG &GbG=

*K HG< IdG< p@S DK ^RD DH .RCIHB<UG IHEIKbL VCIK TGTRHICB;I; DK *<FI;G< 8KB;G<TDCUBFBDK;G I HG< ICFB<FI< UDcBEIKG< VGbIC ;D KRUDCG<G< DKEICVG< DK D<D TIM<S EGXUDKbICGK I EGK<GHB;IC<D NBVRCI< EGUG HI ;DH VRIFDUIHFDEG 0ICHG< ._CB;I Q <GYCD

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$phi

FG;G HI ;D &RNBKG $IUIQGS TBKFGC ;D EIYIHHDFD vIRK^RD IRFGC FIUYB_K ;D URCIHD<vIH ^RD ;DYD EGK<B;DCIC<D RKG ;D HG< TBKFGCD< NRK;IUDKFIHD< DK HI DWGHREBLK ;DH ICFDHIFBKGIUDCBEIKG ;DH <BVHG ``= 2IUBHBICBbI;G EGK DH ICFD TCDaB<T\KBEGS EGUYBKL DK <R<GYCI< HI< NGCUI< ;D _<FD EGK EGKEDTFG< ;D HI TBKFRCI UG;DCKI DK ;GK;D DH EGHGCI;^RBCBL TICFBERHIC BUTGCFIKEBI= 'HVG <BUBHIC TRD;D ;DEBC<DS QI DK HI <DVRK;I UBFI; ;DHI EDKFRCBIS ;D HI GYCI ;DH TDCRIKG 2DCKIK;G ;D #bQ<bHGS ^RD BKFCG;RED DK <R< GYCI<SUREaI< ;D DHHI< EGUTCDK;B;I< ;DKFCG ;D HI ,GXNBVRCIEBLKS UGFBWG< TCDaB<T\KBEG<SEGKNBVRCIK;G <R URK;GS EGUG <DdIHL .ICBG OICVI< +HG<IS [EGUG DH WBDZG HDVI;G ;DHG< IKLKBUG< ICFD<IKG< TCDEGHGUYBKG< ERQI< U\<EICI<S UIKFG< ;D THRUI<S NBVRCBHHI<;D VCD;IS <MUYGHG< Q EGHGCD< ITICDEDK EGK NCDERDKEBI ^RBKFID<EDKEBI;G< DK <R< FDXHI<]=

eR<FIUDKFD DK DH 3DCk FRWG CDHDWIKEBI DH BK;BVDKB<UG EGUG TCGTRD<FI D<F_FBEIS DKHMKDI< VDKDCIHD< U\< DK EGK<GKIKEBI EGK I^RDHHI EGKEDTEBLK [IUIYHD] ^RD EGK HIIEEBLK CDBWBK;BEIFBWI= #R BCCRTEBLK <RTGK;CMI HI EGK<GHB;IEBLK ;D HI B;DGHGVMI KIEBGXKIHB<FI TCGTIVI;I TGC eG<_ 0ICHG< .ICB\FDVRBS FDKBDK;G DK DH TBKFGC eG<_ #IYGVIH I<R U\cBUG DcTGKDKFD= *H CD<EIFD ;DH ICFD TCDEGHGUYBKG I FCIW_< ;D HI NGCUIEBLK ;DEGHDEEBGKD< ;D TBDbI< BKEIBEI<S HI BKEGCTGCIEBLK ;D UGFBWG< TCDaB<T\KBEG< Q FMTBEG<;DH 0RbEG DK HI< GYCI< vTG;DUG< EBFICS I;DU\< ;D #IYGVIHS HG< HBDKbG< FBTB<FI< ;D2DHBTD 0G<<MG ;DH 3GUIC Q IHVRKI< D<ERHFRCI< ;D )IWB; +GbIKGv Q RK IUTHBG THIKD;REIEBGKIH ^RD BKEHRMI HI DK<DdIKbI ;DH ;BYRZG RFBHBbIK;G HBKDIUBDKFG< ;D I^RDH ICFDIKED<FCIHS EGUG <D WD DK HG< FDcFG< TRYHBEI;G< TGC *HDKI "bERDS <DdIHICGK RK KRDWGEIUBKG= %YCI< EGUG DH TIYDHHLK TDCRIKG ;D HI *cTG<BEBLK "YDCGIUDCBEIKI ;D #DWBHHI

)"*7% &"O*&' :./`"0%>= ",)8#$&"' )* )*$&%"$ :fgp?Xfgpp>= .8&'+ 8-"0')%*, $!* )*$&%"$ ",#$"$8$* %2 '&$ :*#$')%# 8,")%#>=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# phs

&J.8+% &%9% :0%+%.-"'>= .%,8.*,$% ' +' 3'$&"'S./&")' :./`"0%> :fgAi>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$phj

:fg?g> CDIHBbI;G TGC DH D<ERHFGC .IKRDH 3B^RDCI< 0GFGHM D< RKG ;D HG< DZDUTHG< ERHUBXKIKFD< ;D HI IC^RBFDEFRCI KDGTCDaB<T\KBEI = *K FGCKG ;D #IYGVIH ECDEBDCGK KRUDCG<G<ICFB<FI< ^RD aIYCMIK ;D HGVCIC EGK<GHB;IEBLK DK HG< IdG< p@ EGUG eRHBI 0G;D<B;GS*KCB^RD 0IUBKG -CDKFS eGCVD OBKIFDI &DBKG<GS 0IUBHG -HI< G 'HDZIK;CG 7GKb\HD<['TRCMUIn]S <DVRB;GCD< ;D HI FDU\FBEI BK;BVDKB<FI I HI ^RD CDKGWICGK D<F_FBEIUDKFD=

*H BK;MVDKI Q <R URK;G EGUG UGFBWG ;D BK<TBCIEBLKS <B YBDK WBWBL <R< UGUDKFG<U\< \HVB;G< DK HI TCBUDCI UBFI; ;DH ``S VGbL ;D EGKFBKRI;I TCD<DKEBI DK HI TCG;REXEBLK ;D KRUDCG<G< ICFB<FI< EGKFDUTGC\KDG<= *K FIH <DKFB;G D< BK<G<HIQIYHD HI GYCI;DH DERIFGCBIKG %<tIH;G 7RIQI<IUMKS ^RD CDBWBK;BEL HI NBVRCI ;DH BK;MVDKI DK <DCBD<FIK D<DKEBIHD< EGUG +I *;I; ;D HI "CI S ;D UICEI;G EIC\EFDC <GEBIH Q EGUTCGUB<GTGHMFBEGS ^RD DZDERFI I TICFBC ;D HG< IdG< <D<DKFI= 'dG< IKFD< aIYMI TBKFI;G RKG<VDGUDFCBbI;G< TIB<IZD< I_CDG< ;D qRBFGS EICIEFDCM<FBEG< TGC HI NRDCbI FDHkCBEI ^RD ;DDHHG< DUIKIYI= '<BUB<UGS ;DYDUG< <DdIHIC EGUG CI<VG ;D BUTGCFIKEBI HI TCD<DKEBI;DH FDUI BK;MVDKI DK HI NGFGVCINMIS KG <GHIUDKFD I FCIW_< ;D FGUI< ;D FBKFD IKFCGTGHLXVBEG <BKG FIUYB_K ;D GFCI< ^RD <D WIHBDCGK ;D HI NBVRCI ;DH aIYBFIKFD IUDCBEIKG TICIECDIC URK;G< D<F_FBEG< ;D VCIK D<TBCBFRIHB;I; EGUG <D CDNHDZI DK HI< GYCI< ;DH VRIFDXUIHFDEG +RB< 7GKb\HDb 3IHUI=

'CFB<FI< ;D WICBG< TIM<D< IUDCBEIKG< GCBDKFI;G< D BKFDVCI;G< I EGCCBDKFD< ;D HIWIKVRIC;BI BKFDCKIEBGKIH EGUG DH #RCCDIHB<UG CDERCCBDCGK I HI FCI;BEBLK BK;MVDKI TICI;IC RK <D<VG TCGTBG I <R< GYCI<= )BEaI FDK;DKEBI EGUDKbL I FGUIC WRDHG I NBKIHD< ;DHG< IdG< FCDBKFI Q ;RCIKFD HG< ERICDKFIS ;B<FBKVRB_K;GHD RK BKFDC_< TGC CD<EIFIC HG<WD<FBVBG< ;D HI< ERHFRCI< TCDEGHGUYBKI<= 8K aBFG ;D<FIEI;G NRD HI *cTG<BEBLK "KFDCKIX

2*+"3* 0%##6% )*+ 3%.'& :3*&r>= +' 00' +'$' 1 +' ',$'&' :0=fgp@>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# phg

%#{'+)% 78'1'#'.6, :*08')%&>= O"#$' )* q8"$% :0= fghj>=

EBGKIH ;DH #RCCDIHB<UG :fgh@>S GCVIKBbI;I DK ._cBEG TGC DH NCIKE_< 'K;C_ -CDFGKS DHIR<FCMIEG {GHNVIKV 3IIHDK Q DH TDCRIKG 0_<IC .GCG= +I UB<UI <BVKBNBEL TRKFG ;DTICFB;I TICI DH UGWBUBDKFG DK DH EBFI;G TIM<S RKB_K;G<D TG<FDCBGCUDKFD GFCG< ICFB<FI<DcFCIKZDCG< EGUG HG< D<TIdGHD< -DKZIUMK 3_CDF Q <R URZDC &DUD;BG< OICG DK fgh@S QHI BKVHD<I +DGKGCI 0ICCBKVFGK DK fghp= +I GYCI ;D 2CB;I oIaHGS ^RBDK EGKGEBL I-CDFGK DK fgpjS <RDHD <DC DKERI;CI;I ;DKFCG ;DH #RCCDIHB<UGS IH BVRIH ^RD HI ;D .ICMI"b^RBDC;GS IRK^RD IUYI< <GK ;DR;GCI< ;DH ICFD TGTRHIC UDcBEIKG= *K NGFGVCINMI;DYD <DdIHIC<D HI HIYGC ;D .IKRDH Q +GHI 'HWICDb -CIWG= ' TICFBC ;D <R IEDCEIUBDKFGIH <RCCDIHB<UG DWGHREBGKIC\K ;G< ;D HG< ICFB<FI< U\< KGFIYHD< ;DH EGKFBKDKFDS DH EaBHDXKG &GYDCFG .IFFIS IRFGC;D KRUDCG<I< GYCI< DK HI< ^RD <D DWB;DKEBI HI BUTCGKFITCDEGHGUYBKIS Q DH ERYIKG {BNCD;G +IUS ^RBDK BK;IVI DK HI FCI;BEBLK INCGERYIKI;DZIK;G KGFIC DH BKNHRZG ;D 3BEI<<G=

2BKIHUDKFDS HI D<ERHFRCI <DC\ GFCG ;D HG< EIUBKG< TICI HI EGK<GHB;IEBLK ;DH BK;BVDXKB<UG= )D<;D HI< TCBUDCI< ;_EI;I< ;DH `` DH _cBFG ;D HG< URCIHB<FI< UDcBEIKG< TCGWGXEL RK BKFDC_< TGC TICFD ;D ERHFGCD< ;D D<FD V_KDCGS ;D INBCUIC HI< CIMED< IUDCBEIKI<= 'TICFBC ;D HI <DVRK;I UBFI; ;D HI EDKFRCBI <D TCG;REBC\ RK DKERDKFCG DKFCD D<G< EGKFDXKB;G< FDHkCBEG< Q HG< HDKVRIZD< ICFM<FBEG< EGKFDUTGC\KDG<S ;D<FIEIK;G ECDI;GCD< EGUGHI ICVDKFBKI 'HBEBI 3DKIHYI EGK <R< NBVRCI< FGF_UBEI<S HI YGHBWBIKI .ICBKI ,kdDb ;DH3CI;GS DUTDdI;I DK ;D<DKFCIdIC DH EDCCI;G D<TMCBFR ;DH 'HFBTHIKGS Q HI EaBHDKI .ICFI0GHWBKS IRFGCI DK fgih ;D HI 3RDCFI ;DH #GH BK<TBCI;I DK HI aGULKBUI ;D $BIaRIKIEG:-GHBWBI>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pA@

#*+*00"J, )* ".47*,*#

e%!',, .%&"$9 &87*,)'#= 3+'9' )* '&.'# )* +".' :fjhp>

+I aB<FGCBGVCINMI ;DH ICFD TDCRIKG ;DH <BVHG `"` <RDHD BKEHRBC I eGaIKK .GCBFb&RVDK;I<S KG GY<FIKFD <R EGCFI D<FIKEBI DK DH TIM< IK;BKGS EGUG RKG ;D HG< [ICFB<FI<WBIZDCG<] Q [EG<FRUYCB<FI] ;D UIQGC <BVKBNBEIEBLK DKFCD HG< ^RD TI<ICGK TGC IHHM= )DD<FD TDCMG;G ^RD;IK KRUDCG<I< GYCI< ;D<FIE\K;G<D HI 3HIbI ;D 'CUI< ;D +BUI S NDXEaI;I DK fjhpS ;GK;D DH ICFB<FI IHDU\K CDECDI HG< TDC<GKIZD< FMTBEG< ;D HI +BUIEGKFDUTGC\KDIS HI< FITI;I<S HG< <DdGCD< EGK <GUYCDCG ;D FICCGS HI TCGWBKEBIKI ;D HI<BDCCIS DH EaIH\KS DH CDHBVBG<GS DH ECBGHHG Q DH UD<FBbGS DH UGCDKG Q <R UGCDKIS DH UDCEIX

EaBNHD EIHHDZDCGS DFE=S DK RKI EGKNR<BLK ^RD <BUYGHBbI HI aDFDCGV_KDI UDbEHI <GEBIHaDCD;I;I TGC 3DCk ;D HI _TGEI WBCCDBKIH= ,G D<F\ DcDKFI D<FI GYCI ;D EBDCFI FDIFCIHBX;I;S EGK UREaG< ;D HG< TDC<GKIZD< ;BCBVBDK;G <R UBCI;I IH D<TDEFI;GC= +I 0IFD;CIHHBUDdIS DH YIHELK EGHGKBIH Q DH EICFDH IKRKEBIK;G HI EGCCB;I ;D FGCG<S IUDK ;D HI<WICBI;I< BK;RUDKFICBI< ;D<ECBFI<S aIYHIK I HI< EHICI< ;D HI WBVDKEBI ;DH TI<I;G aB<T\XKBEG=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pAf

2+%&*,0"% .%+",' 0'.3%# :'&7*,$",'>= *+ +*0!*&% :0= fghA>

*<ECBYMI .GHBKI 0IUTG< DK fgAfS CDNBCB_K;G<D I <R GYCI5 [1G KG aIVG U\< ^RDDcTCD<IC HI CDIHB;I;S DcIVDCIK;G EBDCFG< CI<VG< vEGUG <B HG< WBDCI I FCIW_< ;D RKHDKFD ;DNGCUI;GCv ;D TDC<GKI< Q IKBUIHD<= 3BKFG IH VIREaGS DH ^RD aD WB<FG DK IdG<HDZIKG<S ERIK;G IkK DcB<FMIK WDC;I;DCG< VIREaG<S TGC^RD HG< EGKGbEG Q HG< EGUTCDKX;G= )DKFCG ;D TGEGS IWDKFI;G< TGC DH TCGVCD<G Q DH EG<UGTGHBFB<UGS <DC\ FIC;D EGXTBICHG< ;DH KIFRCIH= *H VIREaG <D WI EGKWBCFBDK;G I FG;I TCB<I DK DH ‹TDLKm <BKEICIEFDCM<FBEI< CIEBIHD<S I<M EGUG DH VIKI;G ECBGHHG <D aI B;G FCIK<NGCUIK;G DK TIEMNBXEG< ‹TRCG< ;D TD;BVCDDm ;D FG;I< HI< CIbI<= #BUTHDUDKFD ^RBDCG EITFIC Q TDCTDFRIC DKUB GYCI FG;G HG ^RD aIQ ;D BKFDCD<IKFD Q TBKFGCD<EG DK D<D VIREaIZD ^RD TCGKFG <DC\

<LHG RK CDERDC;GS RKI HDQDK;I]= *H HDEaDCG DZDCED RKG ;D HG< GNBEBG< ;D QI HICVIFCI;BEBLK DK DH EIUTG ICVDKFBKG Q KG <GHIUDKFD <D HG EGKGEBL DK HI EIUTIdI <BKG ^RDIRK aGQ <D HG WD DK IHVRKI< EBR;I;D< ;DH BKFDCBGC= *K DH ERI;CG <GK KGFIYHD< FIKFG HIEICI ;D WI<EG ^RD FBDKDS EGUG <R< NHGCB;I< IHTICVIFI<l BKEHR<BWD KG NIHFI HI YGBKI ^RDCDERDC;I I <R FBDCCI= $IUYB_K HI R<I DH ;RDdG ;D [HI< EI<I<] ^RD <IEI RK TGEG ;DHDEaD EGK <R ZICCBFG TICI BC HHDKIK;G HI GHHI ;D HI TIFCGKI ^RD D<TDCI ;DFC\<= '<M HG aIC\aI<FI HHDKIC DH CDEBTBDKFD= +RDVG DH aGUYCD EICVIC\ RK ZICCG TICI _H ^RD DH WI<EG HD;IC\ EGUG [QITI]=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pA?

'+2&*)% 78")% 1 e%#/ 7*&-",% :'&7*,$",'>= 0%2&* )"'78"$' :fgfg>



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pAh

)"*7% &"O*&' :./`"0%>= 3%&$')' )* +' &*O"#$'.*`"0', 2%+o{'1# :fg?i>

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pAA

[===+I CDWB<FI .DcBEIK 2GHntIQ< :fg?AXfgps>S NRD D;BFI;I TGC HI D<FR;BG<I KGCFDXIUDCBEIKI 2CIKED< $GGC= "KFDCD<I;I DK RK TCBKEBTBG DK aIEDC RKI BKWD<FBVIEBLK <GYCDHI< ICFD< TH\<FBEI<S IH EGKGEDC ;D<TR_< HI ERHFRCI ;D HG< BK;MVDKI<S <D ITI<BGKI TGC DHHIQ <D TCGTGKD NGCUIC RKI CDWB<FI ;GK;D <D ;_ I EGKGEDC DH NGHnHGCD ;D D<FG< VCRTG<=

0GUG DHHI HG BK;BEIS ‹*H .DcBEIK 2GHntIQ< D< RKI EGK<DERDKEBI ;D UB VCIK DKFRX<BI<UG Q VR<FG ;D IK;IC DKFCD HG< BK;BG< Q ;D D<FR;BIC <R< EG<FRUYCD<=]= 1 U\<I;DHIKFD KG< ;BED5 [D< UB D<TDCIKbI ^RD .DcBEIK 2GHntIQ< TRD;I <DC kFBHS DK UREaI<D<ERDHI< <RTDCBGCD< Q RKBWDC<B;I;D<S I HG< D<FR;BIKFD< ;D D<TIdGHS EGUG UIFDCBIH TICIDH D<FR;BG ;DH NGK;G <GEBIH ^RD ;I UIQGC ;B<EDCKBUBDKFG IH ;D HI HBFDCIFRCI Q ;DHHDKVRIZDS Q I I^RDHHG< FIUYB_K ^RD D<F\K BKFDCD<I;G< DK DH BK;BG Q DK DH NGHnHGCDUB<UG<m]=

:#',)%O'+ 3/&*9S .ICVICBFG= 'CFD Q NGHnHGCD DK .DcBEIK 2GHntIQ< = ._cBEGS8,'.S fggjS 3\V<= ?gXp@>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pAi

'3/,)"0* )%08.*,$'+

"= +' )*XO*+'0"J, )* './&"0' +'$",'f

!RUYGH;F= *H EGKGEBUBDKFG ;D 'U_CBEI= 3ICI HG< DRCGTDG<S DH ;D<ERYCBUBDKFG ;DRK KRDWG D<TIEBG= 3ICI HG< IUDCBEIKG<S BKEGCTGCIC<D I HI aB<FGCBI=

*RCGTI WBWMI DH FBDUTG ;D HI DEHG<BLK EBDKFMNBEIS ;D HI EGK<IVCIEBLK CIEBGKIHB<FI= 'HI <IbLKS I HI DFITI ;DH ;D<ERYCB;GC ;DYMI <RED;DC HI ;DH BKWDKFICBG= ' UD;BI;G< ;DH<BVHG fj <D BKIRVRCI HI EGCCBDKFD ;D UB<BGKD< KIFRCIHB<FI< ERQG< BKFDCD<D< EBDKFMNBEG<:€BKFDCD<D< ;D HI 0GCGKI~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

*H aDEaG ;D <DC WBIZDCG< HG< aIED TICFBEBTIC ;D HI IEFBFR; ;DH WBIZDCG5 DH WGQDRCB<X UG= .BCIC Q aIEDC WDC HG ^RD RKG aI UBCI;GS TCGERCIK;G NB;DHB;I; I HI UBCI;I= *HFRCB<FI ;D aGQ FGUI NGFGVCINMI<S <R BKFDKEBLK D< IKDE;LFBEI= *H TBKFGC WBIZDCG TICFBEBXTIYI ;D HI BKFDKEBLK ;DH D<FR;BG<G5 ;GERUDKFI= !RUYGH;FS NCDKFD I HG< ;BYRZG< ;D.RFB<S <G<FRWG ^RD IkK ERIK;G <D TDC;BDCIK <R< ;D<ECBTEBGKD< Q ;D<ITICDEBDCIK HI<D<TDEBD<S TG;CMIK WGHWDC I ;D<ECBYBC<D HI< THIKFI< Q NHGCD< IUDCBEIKI< I TICFBC ;D D<G<;BYRZG<= #ICUBDKFG UB<UG QI HG aIYMI I;WDCFB;G I TCGTL<BFG ;D &RVDK;I<5 [===<R<ERI;CG< <GK ;GERUDKFG<=] *H TBKFGC WBIZDCG TCG;RZG ;GERUDKFG< VC\NBEG<S EGKNBVRCIX;G< TGC VCINB<UG< D BHR<FCIEBGKD<= *H ;BYRZG aIYMI ;D <DC RK BKWDKFICBG TCGHBZG TGC^RDDCI FDcFRIHS D<FG D<S <R<FBFRMI DH FDcFGS ;D<ECBYMI= [0G<FRUYCD< ;D -IaMI]S ;D &RVDK;I<SEGK<FBFRQD RK ERI<B ;GERUDKFG IC^RDGHLVBEGS DK DH ^RD <D TRD;DK BKWD<FBVIC ;D<;DDH UG;G ^RD DUTHDIYIK HG< KIFBWG< TICI DK<IUYHIC HI< FDZI< ;D <R< WBWBDK;I< aI<FI;DFDCUBKIC I ^R_ NIUBHBI TDCFDKDED EI;I RKI ;D HI< THIKFI<l ;D<;D DH UG;G ;D TDBKICX<D ;D HI< BK;BI< aI<FI DH FBTG ;D EICKD ^RD EGUMIK :EIbIYIK RKI <RDCFD ;D EGEG;CBHG^RD ITICDED DK DH YGFDS HI TD<EI>l ;D<;D DH WD<FB;G ^RD R<IYIK aI<FI HI D<TDEBD ;D HG<IKBUIHD<= 0GK CDIHB<UG Q RKI TBbEI ;D aRUGC :HI DcTCD<BLK ;DH ERCI <RDKI I TBEIC;MI>=

' FG;G D<FG aIQ ^RD <RUIC HG< BKFDCD<D< ;DH EGUDCEBG UDFCGTGHBFIKGS :KRDWI<NRDKFD< ;D <RUBKB<FCGS KRDWG< TCG;REFG<5 FIYIEGS EaGEGHIFDS TITIS UIMb>S TICI FDKDCEGKNGCUI;I< HI< EHIWD< ^RD TDCNBHIK DH IYIKBEG ;D FDUI< TGC HG< ERIHD< aI ;D FCIK<BFICHI BEGKGVCINMI ;D HG< TBKFGCD< WBIZDCG<= *<EDKI< EG<FRUYCB<FI<l FGTGVCINMIS NIRKIS NHGCIlD<EDKI< UICMFBUI< :TRDCFG< <GYCD FG;G> Q D<EDKI< ;D VRDCCI= *H EGK<RUG DRCGTDG ;DD<FI TCG;REEBLK ICFM<FBEGXEBDKFMNBEI <RDHD <DC GYZDFG ;D UDFIUGCNG<B<5 RKI D<EDKI ^RDEGUBDKbI TGC FDKDC WIHGC IKFCGTGHLVBEGS aGUYCDX^RDXNRUIS TGC EBFIC RK DZDUTHGS DK

f= o'+*,-*&7S 'KVDH= [+I ;DXWDHIEBLK ;D 'U_CBEI +IFBKI]= *K5 'CFB<FI< IHDUIKD< DK+IFBKGIU_CBEI= 3BKFGCD< Q KIFRCIHB<FI< ;DH <BVHG `"` BHR<FCIK RK EGKFBKDKFDS -DCHMKS *cTG<BEBLK ;DH"K<FBFRFG "YDCGX'UDCBEIKG 3IFCBUGKBG 0RHFRCIH 3CR<BIKGS fgsjS 3\V<= fiXfj=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pAs

RK UD;BG DK DH ERIH DH FIYIEG IkK DCI ;D<EGKGEB;GS Q UGWMI I HI ERCBG<B;I;S TRD;DEGK DH FCIK<ERC<G ;DH FBDUTGS ;IC HRVIC I HI TCGQDEEBLK Q ;D<ICCGHHG ;D VCIK;D< DUTGXCBG<S HG< ^RD FCIUBFICGK HG< <DK;DCG< ;DH FIYIEGS TGC EGKEHRBC EGK DH UB<UG DZDUTHG=

€qRB_KD< IEGUDFDK D<FI FICDI [EIFI<FCIH]~ 0BDKFMNBEG< Q ICFB<FI< vTCGND<BGKIHD< QINBEBGKI;G<v CGU\KFBEG<= OIHD ;DEBCS aGUYCD< ;D IEEBLKS aGUYCD< ^RD <IHMIK I HIIWDKFRCIS I HI I;WDKFRCIS I HI WDKFRCI=== 8K WBIZD DK EGCYDFI ;DH TRDCFG ;D #DWBHHI IHEGKFBKDKFD TG;MI BK<RUBC <DB< UD<D< Q IHVRKG< <GYCD<IHFG<= +G< TBKFGCD< WBIZDCG< KG<GK HG< TCBUDCG< ICFB<FI< WBIZDCG<S ;D<;D HRDVGS <BKG ^RD HG <GK HG< CDKIEDKFB<FI<=&D<RHFICMI <DKEBHHG CDEGK<FCRBC DH BFBKDCICBG ;D HG< WBIZD< ;D )RCDCG= ,G GY<FIKFDS EGUXTICI;G EGK DH ;D HG< TBKFGCD< WBIZDCG<S ^R_ TD^RDdG CD<RHFI DH BKFDCKIEBGKIHB<UG ;DHG< BK<BVKD< TBKFGCD< CDKIEDKFB<FI<= Œ0R\KFI ;B<FIKEBI )RCDCG TG;MI D<FR;BIC <R< UGX;DHG<S DHHG< UB<UG< DK CDTG<GS I FCIW_< ;DH GZG ;D RKI UIUTICI ERI;CBERHI;I Q TBKFICXHG< DK ^RBDFR;= +G< TBKFGCD< WBIZDCG< FIUYB_K TG;MIK UBCIC I FCIW_< ;D RK GZGS TDCGGFCG GZGS DH GZG ;D YRDQ= 3BKFIYIK I YGC;G ;D YICEG< DK UGWBUBDKFG :EGUG HG aICMI.GKDF DK <R YICEIXFIHHDCS DK 'CVDKFDRBH>S D<EDKI< DK UGWBUBDKFGS ;D RK URK;G DKDYRHHBEBLK= *<FI< EGK;BEBGKD< ;D FCIYIZG <GK HI< ^RD HD GFGCVIK I HI GYCI ;D &RVDKX;I< D<D IBCD KG IEI;_UBEGS TD<D I ^RD FG;G <R EGKFDcFG v NGCUIEBLKS FDUI< v <DTCD<FIYI TICI DHHG= 3DCG DH D<TIEBG Q DH FBDUTG ;D 'U_CBEI KG <GK DH D<TIEBG Q DHFBDUTG ;D *RCGTI=

'^RDHHG ^RD DH ICFD YR<EL GFCGCI DK DH UICEG ;D HI *;I; .D;BI G DK DH ;D .ICCRDXEG< G DK DH ;D %CBDKFDS BKFDKFIC\ CDDKEGKFCICHG DK 'U_CBEI5 RKI CDIHB;I; <BFRI;I DKFCDHI UBFGHGVMI Q HI CDIHB;I; CDIHS TICI <DCWBC EGUG <D;DS TICI UIKFDKDC DH IRCIS TICI aIEDC<GYCDWBWBC RK CGUIKFBEB<UG ERQG MUTDFR D<F\ DK ;DEHBWD=

""= *, -8#0' )* +% 3&%3"%?

+I B;DI ;D HG TCGTBG <D CDTBFD BK<B<FDKFDUDKFD5 [!IEDC RK ICFD TCGTBG]S [CDERTDCICHG TCGTBG]S NRDCGK NCI<D< CDERCCDKFD<= OIHD HI TDKI BKFDKFIC TCDVRKFIC<D ^R_ DKFDK;MIKIH R<IC RK EGKEDTFG IUGCNG EGUG D<D=

*K HI &DWB<FI ;D 'WIKEDS ;RCIKFD RK TIC ;D IdG<S fg?jXfg?gS <D TRYHBEL RKI<DEEBLK ^RD YIZG DH FMFRHG ["K;IVIEBLK €qR_ ;DYD <DC DH ICFD IUDCBEIKG~ ] <D NGCURHIXYIK RKI <DCBD ;D TCDVRKFI< I D<ECBFGCD< Q ICFB<FI< ;D ;BWDC<G< TIM<D< aB<TIKGIUDCBEIXKG<= 8KI ;D HI< TCDVRKFI< DCI5 €0CDD R<FD; ^RD HI GYCI ;DH ICFB<FI IUDCBEIKG ;DYD CDWDHIC RKI TCDGERTIEBLK IUDCBEIKI~ %YWBIUDKFD HHDVIK;G IH DcFCDUG ;D HI <MKFD<B<S;BCMIUG< ^RD EI<B FG;G< CD<TGK;BDCGK <MS TDCG BKFDCD ;DYD CDWDHIC RKI TCDGERTIEBLKl U\< RKI BK<TBCIEBLK IUDCBEIKI=

?= 3","S "WGKKD= *K YR<EI ;D HG TCGTBG= "KBEBG< ;D HI UG;DCKB;I; DK DH ICFD ;D 0RYIS ._cBEGS8CRVRIQ Q 0GHGUYBI fg?@Xfgp@= -GVGF\S 8KBWDC<B;I; ,IEBGKIHS !B<FGCBI Q $DGCMI ;DH 'CFD Q HI'C^RBFDEFRCIS TCGVCIUI ;D UID<FCMIS ?@@@S 3\V<= ?pAX?pj=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pAj

*H TBKFGC ERYIKG *;RIC;G 'YDHI EGUDKFIYI5 0CDG <BKEDCIUDKFD ^RD DK HI 'U_CBEI D<F\ DH EIR;IH ^RD aI ;D NDCFBHBbIC DH ICFD ;DH <BVHG `` +I< NRDCbI< D<TBCBFRIHD< ;D *RCGTI D<F\K TGEG UDKG< ^RD IVGFI;I< Q <R EBWBHBbIEBLK aI ;D <IHWIC<D TGC HI <IWBI ^RD HD BKQDEFD DH ECRED EGK CIbI< WMCVDKD<S THDFLCBEI< ;D D<DKEBI< aRUIKI<= #B HI TCD<DKFD CDKGWIEBLK ;DH ICFD aI ;DUG<FCI;G ^RD DH BKFDC_< ;D FG;I GYCI CD<B;D <LHG DK <R TGFDKEBI IKMUBEIS ;DU\< D<F\ ;DEBC ^RD DH WDC;I;DCG ICFB<FI IUDCBEIKG FBDKD ^RD <DKFBC HI TCDGERTIEBLKS ;BC_ UDZGC HI KDED<B;I;S ;D DcTCD<IC WB<BGKD< ;D <R IUYBDKFD Q ;D <R D<TMCBFR =:x>

+I< CD<TRD<FI< I D<I [TCDGERTIEBLK IUDCBEIKB<FI] ^RD THIKFDIYI HI TCDVRKFI TDCXUBFDK WB<HRUYCIC RKI <DCBD ;D DHDUDKFG< EGURKD<= $IH WDb DH U\< CDERCCDKFD <DI HICDHIEBLK ^RD <D D<FIYHDEMI DKFCD HI GYCI Q HI TDCFDKDKEBI I RK HRVICS I RKI ERHFRCISTHIKFDI;I DK F_CUBKG< EI<B BK;B<GHRYHD<= *< ;DEBCS BKFDKEBGKIHUDKFD G KGS HI GYCI ;DH

ICFB<FI CDWDHICMI RK BKFDC_< IUDCBEIKB<FI 1 NRD I TICFBC ;D D<D <RTRD<FG ^RD <D DHIYGCIXCGK HI< TCDGERTIEBGKD< TGC HG TCGTBGS TGC HGVCIC RKI ERHFRCI ^RD HD TDCFDKDEBDCI IHaRK;BC <R< CIMED< DK RKI CDIHB;I; BK<G<HIQIYHD= )D<ERYCBCHIS EICIEFDCBbICHIS <DCMI NRKXEBLK D<DKEBIH ;DH ECDI;GC=

+I EGKEBDKEBI ;D <DC DH CD<RHFI;G ;D HI UDbEHI ;D ;BWDC<G< EGUTGKDKFD< ERHFRCIHD<vDH IZBIEG IH ^RD IHR;MI %CFBb TICI CDNDCBC<D I HI ERHFRCI ERYIKIv <RTGKMI FDKDC HIEITIEB;I; ;D CDEGKGEDCHG<= )D IHHM DH CD<EIFD ;D HG BK;MVDKI G ;D HG INCBEIKGS BKVCDX;BDKFD< FCI;BEBGKIHUDKFD KDVI;G< NCDKFD IH TD<G ;DH UG;DHG GEEB;DKFIH ^RD UDKG<XTCDEBIYI HI< ERHFRCI< KG GEEB;DKFIHD<=

1 D<D CD;D<ERYCBUBDKFG ;D HG TCGTBG DK <R< IKED<FCG<S KG FDKB;G< DK ERDKFI DK

VDKDCIH TGC HG< BKFDHDEFRIHD< HIFBKGIUDCBEIKG< NBKB<DERHICD<S KG ;DZI ;D D<FIC ERCBG<IXUDKFD CDHIEBGKI;G EGK DH TI<G ;D HG< ICFB<FI< TGC *RCGTI= +G< FCIYIZG< CDIHBbI;G< DK3ICM< Q GFCI< EBR;I;D< ;DH WBDZG EGKFBKDKFD DK \CDI< EGUG HI IC^RDGHGVMIS HI IKFCGTGXHGVMI Q HI DFKGHGVMI ;D<;D NBKD< ;DH <BVHG `"` Q EGUBDKbG< ;DH ``S aIYMI ;D<TDCFI;GRK TCGNRK;G BKFDC_< TGC ERHFRCI< KG DRCGTDI<=

#D DcTHGCIYI FIKFG DK ICFD< TH\<FBEI< EGUG DK HBFDCIFRCI 'TGHHBKIBCD FDGCBbIYI IEDCXEI ;D HG< DNDEFG< ;DH ICFD INCBEIKG DK DH ERYB<UGS <D TRYHBEIYIK IKFGHGVMI< ;GK;D <DCDEGTBHIK ERDKFG<S UBFG< Q TGDUI< ;D GCBVDK INCBEIKGS Q FIUYB_K <D aIEMIK CDHIFG< ;DWBIZD<=

'KFD DH ;D<VI<FD ERHFRCIH <RNCB;G TGC HI VRDCCIS HG< DRCGTDG< ;D<ERYCBDCGK RKI<

ERHFRCI< WBFIHD<S BKEGKFIUBKI;I<S IRF_KFBEI<S Q HI< IK<BI< ;D ITCGTBIEBLK ;DH WIKVRICX;B<UGS IYCBDCGK HI< TRDCFI< I HI BKNHRDKEBI ;D UIKBND<FIEBGKD< ERHFRCIHD< ;BWDC<I<= 3D<DI ^RD D<FI IEFBFR; KG D<FIYI DcDKFI ;D RK EBDCFG CGUIKFBEB<UG Q CD<IYBG< EGHGKBIHB<XFI<S VDKDCL RK D<TIEBG ^RD aBbG TDK<IC I U\< ;D RK ICFB<FI HIFBKGIUDCBEIKG= 3CD<DKXEBIC DK 3ICM< DH ;D<ERYCBUBDKFG Q HI IEGVB;I ^RD <D HD ;IYI IH URK;G TCDEGHGUYBKGS IHI< ERHFRCI< TGTRHICD< Q I HG INCBEIKGS HD< IYCBL HG< GZG< I RKI CDIHB;I; TGEG WIHGCI;I=+I TG<BYBHB;I; ;D IEED;DC I HI< EGHDEEBGKD< ;D HG< UR<DG<S DH ;D<THBDVD ^RD aIEMIK HI<VIHDCMI< TICB<BKI< ;D TBDbI< GCBVBKIHD< TCGED;DKFD< ;D 4NCBEIS %EDIKMIS 'U_CBEI +IFBKISNGCFIHDEBL KG <LHG HI KGEBLK ;D B;DKFB;I; ERHFRCIHS <BKG ^RD IECDEDKFL HI KDED<B;I; ;D;IC I EGKGEDC D<D TI<I;G ;DH ERIH NGCUIYIK TICFD ;BCDEFIUDKFD= *H GCVRHHG ;D TDCFDXKDEDC I FIK CBEG URK;G ERHFRCIHS HHDWL I ;D<FIEIC D BKFDKFIC DH CD<EIFD ;D HG< WIHGCD<CDVBGKIHD<=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pAg

"""= 2*&,',)% 2')*&= 8,' '8$%-"%7&'26' ,"*$90!*','p

*cFCIdI GERCCDKEBI D<ECBYBC RKI IRFGYBGVCINMIS <BDK;G TBKFGC Q KI;I U\<= €qR_TG;C_ ;DEBC ^RD KG aIQI TBKFI;G~ 1 <B KG <D UD DKFBDK;D DK UB< ERI;CG<S €^R_ TG;C_;DEBC ^RD D^RBWIHVI I RKI DcTHBEIEBLK~

$G;G< HG< ^RD KIEDK TICI <DC VCIK;D< <D IB<HIK FGFIHUDKFD= #GK <GHBFICBG< DK UD;BG;DH FRURHFG ;D HG< EDKFCG< TGYHI;G< Q <D aIEDK BKFGHDCIYHD< ;D GCVRHHGS IH ;DEBC ;D HIVDKFD= 1 <GK <GHBFICBG< DK UD;BG ;D HI D<TIKFG<I VCIK;DbI ;D HI EGC;BHHDCIS TGC^RD KG<D WDK <BKG I <M UB<UG<S UBCIK;G ;DH HHIKG aIEBI HI< ERUYCD< aDHI;I< ^RD <D WB<FDK EGKHI< KRYD< DK <R WRDHG Q UBCIK;G ;D HI ERUYCD aIEBI HI TIUTIS ^RD DK DH aGCBbGKFD D<D<TG<I ;DH EBDHG=

*HHG< <GK EGC;BHHDCIS TIUTI Q EBDHG=1 QG <GQ ;D D<G<5 ;D HG< VCIK;D<=.D aD CDUGKFI;GS HDKFIUDKFD TICI UMS C\TB;IUDKFD TICI HG< ;DU\<S ^RD <D ^RD;IX

CGK I CI< ;D FBDCCI=#_S TRD<S ;D HI FCB<FDbI ;D HI THDKI HRbS ^RD D< <GHS TGC^RD D< VCIK;D= 1 FG;G HG

VCIK;D D< TCGNRK;IUDKFD FCB<FD= 1 <_ ;D HI IHDVCMI ;D HI< KRYD<S ^RD <GK aBZI< ;DH <GHQ ^RD <GK IHDVCD< TGC^RD DUTD^RDdDEDK HI HRb Q ^RDS IH TIFBKIC ;D <R< <GUYCI< <GYCDHI< NIH;I< ;D HI< UGKFIdI<S <GK <DK<RIHD< TGC DcEDHDKEBIS IH ;DFDCUBKIC NGCUI< ^RD <BKDHHI< <DCMIK <BHRDFI<=

OBWG DK RK TIM< ;D DK<RDdG<S ;GK;D FG;G HG <GQ QG5 ;GK;D HI CDHBVBLK D< HIECDDKEBI DK UMS ;GK;D HI HDQ D< <BKEDCB;I; EGKUBVGS ;GK;D HI ZR<FBEBI KG DcB<FD TGCBKkFBHS Q ;GK;D HI YGK;I; D< HI <RTCDUI NDHBEB;I;= !DCUG<G TIM<S ;D<;D ;GK;D FG;G <DWD VCIK;D Q <BUTHDS ;GK;D KI;I D<F\ ;D U\< Q ;GK;D EI;I EG<I FBDKD <R< ZR<FI<TCGTGCEBGKD<= 3IM< ^RD KG FBDKD GFCG IHUIKI^RD ^RD DH TI<IC ;D HG< IdG<S ^RD <GK<DVRK;G< Q <BVHG< Q ERQG FBDUTG D< FIK WICBIYHD EGUG DH D<FI;G ;D \KBUG UB<UGS ^RDDKVDK;CI HI< NRDCbI< UB<FDCBG<I< ;D HI DWGHREBLK BKBKFDCCRUTB;I Q ;GK;D HI< WB<BGKD<;DFDCUBKIK HI HIYGC NDYCBEBDKFD Q ;GK;D DH FCIYIZG UIFDCBIH D< RK THIEDC===

0GUG KG D< TG<BYHD THIKDIC DFDCKIUDKFD Q IYICEICHG FG;G <BK WGHWDC HI EIYDbIS UDTHIED WBWBC DK RK CBKELK ;D HI <BDCCI ;D 0LC;GYIS EGUG IKFD< DK UD;BG ;D HI EGC;BHHDCI=

.B< EI<I< <GK CIKEaG< YHIKEG<S ^RD I HI aGCI ;DH ECDTk<ERHG CDEGVDK HG< kHFBUG<CIQG< ;D HRb TICI BCCI;BICHG< HRDVG ;DH UG;G U\< NIKF\<FBEGS EGUG RKI NHGC ^RD IHIVGKBbIC DcaIHI <R U\< MKFBUG TDCNRUD=

*K HI HICVI TIZI ;D HG< HDEaG< ZRDVI DH WBDKFG EGUG EGK HI EIYDHHDCI ;D RKI URZDC^RDCB;I=== *K HG< KGVIHD< IKB;IK EICTBKFDCG< Q CDQD< ;DH YG<^RDS ^RD <GK UB< EIKFGXCD<S Q DK GFGdG HG< TDCIHD< WB<FDK FkKBEI CGZI ;D EIC;DKIH=== +G< aBVG< UI;RCIK GY<ERXCG< DKFCD aGZI< ^RD <GK THIFG< ;D WDC;D D<UIHFD=

.B FIHHDC HRED RK TB<G ^RD D< FBDCCI Q DK HI< EaBUDKDI< IC;DK DK HI< KGEaD< ;DBKWBDCKG FCGKEG< ;D EGEG Q ^RDYCIEaG= *H UIKFDH ;D UB UD<I HG NGCUIK HI< UIKEaI<

p= [&DTGCFIZD< ;DH UGUDKFG= 0GK DH TBKFGC 2DCKIK;G 2I;DC]= 0ICI< Q 0ICDFI<S -RDKG< 'BCD<S

fh ;D IYCBH ;D fgfs= &DTC=5 78$"/&&*9 O"P8'+*#S &G;CBVG= 2DCKIK;G 2I;DC= %YCI Q TDK<IXUBDKFG ;D RK TBKFGC ICVDKFBKG= #IKFI 2DX-RDKG< 'BCD<S "K<FBFRFG ;D 'U_CBEIX0*)%)'+S fggjS3\V= hp?=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pi@

;D <GH ^RD NBHFCIK I FCIW_< ;DH NBHBVCIKG NGHHIZD ;D RK CGYR<FG IHVICCGYG=== *K HI ^RDYCIX;IS ^RD ;BEDK [;DH CDUIK<G]S EID RK aBHG ;D IVRI ^RD DK BKWBDCKG HHDKI HI< DKGCUD<EGTI< ;D VCIKBFG EGK ECB<FIH HM^RB;GS Q DK WDCIKG D< EGUG DH HDKFG CG;IC ;D RKIIUICVI H\VCBUI ;D UI;CD=== *K DH TIFBG ;D HI EI<I ZRDVIK &IkH Q 0_<ICl KG <IYDK ^RDHI WB;I D< ;RCI EGUG DH TIK ^RD EI;I GEaG ;MI< KG< FCIDKS TGC^RD D<FIUG< HDZG< ;DHTRDYHGS HDZG<S URQ HDZG<= 'HH\ TBKFG Q DH <GH Q DH IBCD UD YCGKEDICGK= $DKVG RK ZIC;MKQ RKI aRDCFI ^RD ;D UB ERB;I;G WBWDK=

)G< WDED< IH ICHG YIZG I _<FIl Q KI;I KRDWG UD HHDWG='KFD< UB< IRFGULWBHD< UD TICDEMIK BK;B<TDK<IYHD< Q IaGCI WGQ I TBD= .D ;D<TGZIX

CGK ;D UB< YBDKD< Q ;D HG< ;D UB NIUBHBI DK THDKG ;MI Q I HI <GUYCI ;D HI ZR<FBEBIS ^RD;D <DC eR<FBEBI KG ;BDCI <GUYCI= .B TGYCD UI;CDS ^RD D< IKEBIKIS <RNCD IkK TGCDHHG===$DKVG UB EIUBKG Q WGQ I TBD= )D FG;I< UIKDCI< DH ^RD ;DYD HHDVICS HHDVIC\ HGUB<UG=== Q UD <GKCMGx

"O= +%# ","0"%# )*+ .8&'+"#.% .*`"0',%h

+G ^RD ;BNDCDKEBI IH VCRTG ;D TBKFGCD< URCIHD< ;D ERIH^RBDC GFCG VCRTG <DUDZIKFDSD< <R EITIEB;I; ECMFBEI= 3GC HI TCDTICIEBLK ^RD HI UIQGC TICFD ;D DHHG< FDKMIS D<FIYIKDK HI TG<BYBHB;I; ;D WDC EGK YI<FIKFD EHICB;I; DH TCGYHDUI ;DH UGUDKFG Q ;D <IYDCER\H DCI DH EIUBKG ^RD aIYMI ^RD <DVRBC= #D ;IYIK ERDKFI TDCNDEFI ;DH UGUDKFGaB<FLCBEG DK ^RD HD< EGCCD<TGK;MI IEFRICS ;D HI< CDHIEBGKD< ;D <R ICFD EGK DH URK;G QHI <GEBD;I; TCD<DKFD<= 3GC RKI NDHBb EGBKEB;DKEBI <D CDRKMIK DK DH UB<UG EIUTG ;DIEEBLK RK VCRTG ;D ICFB<FI< DcTDCBUDKFI;G< Q VGYDCKIKFD< CDWGHREBGKICBG< ^RD EGUXTCDK;BDCGK ER\H DCI HI TICFD ^RD HD< EGCCD<TGK;MI= *H TCBUDCG ;D DHHG< NRD ;GK eG<_OI<EGKEDHG<=

*K fg?? QI D<FIYI GCVIKBbI;I HI NHIUIKFD #DECDFICMI ;D *;REIEBLK 3kYHBEIS <RD;BNBEBG D<FIYI TGC <DC FDCUBKI;G Q TGC FG;I< TICFD< <D HDWIKFIYIK KRDWI< D<ERDHI<SD<FI;BG< Q YBYHBGFDEI<= )DH )DTICFIUDKFG *;BFGCBIHS ECDIEBLK FIUYB_K ;D OI<EGKEDHG<S<IHMIK EGTBG<I< D;BEBGKD< ;D HG< EH\<BEG<S ^RD DCIK WDK;B;I< I UDKG< ;DH EG<FG TICIYDKDNBEBG ;DH TRDYHG= 2RDCGK HHIUI;G< FG;G< HG< ICFB<FI< Q HG< BKFDHDEFRIHD< I EGHIYGXCIC Q HG< TBKFGCD< <D DKEGKFCICGK EGK RKI GTGCFRKB;I; ^RD KG <D HD< aIYMI TCD<DKFI;GDK <BVHG<= 1G KG <_ ELUG KB TGC ^R_ &BWDCI WGHWBL ;D *RCGTI= #B^RDBCG< NRD HHIUI;G;D &GUI TGC OI<EGKEDHG< Q HG< ;G< ICFB<FI< <D CDRKBDCGK EGK <R< EGUTIdDCG< CD<BX;DKFD< DK ._cBEG Q I DHHG< <D RKBL eDIK 0aICHGFS TBKFGC NCIKE_< CDEB_K HHDVI;G I D<FDTIM

+G< UD;BG< F_EKBEG< Q D<F_FBEG< ;D ^RD ;B<TGKMIK HG< TBKFGCD< URCIHD< DK fg??TRD;DK EHI<BNBEIC<D DK ;G< VCRTG<= 3CBUDCGS HG< ^RD TCGED;MIK ;D "FIHBI QS <DVRK;GS HG<^RD TCGED;MIK ;D 3ICM<= ,B RKG <GHG ;D HG< TBKFGCD< ;D DKFGKED< KB ;D IaGCI aIBKFDKFI;G <B^RBDCI TBKFIC I HI UIKDCI ;D HG< UIQI<S HG< FGHFDEI<S HG< EaBKG< G HG<TGHBKD<BG<= % D< TBKFRCI ^RD WBDKD ;DH .D;BFDCC\KDGS G ;D HI< UIKDCI< Q UG;I< ;DH

h= %&%90%S eG<_ 0HDUDKFD= 'RFGYBGVCINMIS ._cBEGS *;BEBGKD< *CIS fgsfS 3\V<= AjXi@=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pif

3ICM< ^RD NRDS aI<FI IKFD< ;D D<FI VRDCCIS [FGFIHBFICBI] Q ^RD TICDED KG WGHWDC\ I <DC ZIU\<= $G;I< D<I< D<ERDHI< G UIKDCI< KG DCIK KDED<ICBIUDKFD NCIKED<I<S TGC <RTRD<XFG= 3ICM< NRD RKI D<TDEBD ;D YGH<I ;D WIHGCD< ICFM<FBEG< ;D FG;I *RCGTI QS <GYCD FG;GSRK UDCEI;G= 2RDCGK HG< EGUDCEBIKFD< HG< ^RD DK YRDKI TICFD EGKFCBYRQDCGK IH ;D<IXCCGHHG Q DcTIK<BLK ;D HI HHIUI;I [*<ERDHI ;D 3ICM<]S NGCUI;I EGK ITGCFIEBGKD< ;DHURK;G DKFDCGS aI<FI UDcBEIKI<S EGUG HG IFD<FBVRI DH I;RIKDCG &GR<<DIRS ^RD aIYMI<B;G <GH;I;G ;DH DZ_CEBFG BKWI<GC ;D -IbIBKD DK <RDHG UDcBEIKG=

+I TBKFRCI URCIH <D BKBEBL YIZG URQ YRDKG< IR<TBEBG<= !I<FI HG< DCCGCD< ^RD EGUDXFBL NRDCGK kFBHD<= &GUTBL HI CRFBKI DK ^RD aIYMI EIM;G HI TBKFRCI= 'EIYL EGK UREaG<TCDZRBEBG< Q <BCWBL TICI WDC HG< TCGYHDUI< <GEBIHD< ;D<;D KRDWG< TRKFG< ;D WB<FI=+B^RB;L FG;I RKI _TGEI ;D YGaDUBI DUYCRFDED;GCIS ;D UBcFBNBEI;GCD< ^RD WBWMIK RKIWB;I ;D b\KVIKG< DK <R [FGCCD ;D UICNBH]S BKNDEFG FRVRCBGS IHEGaGHBbI;G<S EGK RKIVRBFICCI DK HG< YCIbG< Q NBKVBDK;G RK B;DIHB<UG IY<RC;GS UDK;BVG< ;D RKI <GEBD;I;QI URQ TG;CB;I Q TCLcBUI I ;D<ITICDEDC=

+G< TBKFGCD< Q HG< D<ERHFGCD< ;D IaGCI <DCMIK HG< aGUYCD< ;D IEEBLKS NRDCFD<S <IKG<D BK<FCRB;G<l ;B<TRD<FG< I FCIYIZIC EGUG RK YRDK GYCDCG GEaG G ;BDb aGCI< ;BICBI<= #DNRDCGK I UDFDC I HG< FIHHDCD<S I HI< RKBWDC<B;I;D<S I HG< ERICFDHD<S I HI< D<ERDHI<S \WB;G<;D <IYDCHG Q DKFDK;DCHG HG;G Q ;D GERTIC ERIKFG IKFD< <R TRD<FG DK HI ECDIEBLK ;DRK URK;G KRDWG= OB<FBDCGK GWDCGH Q FCDTICGK I <R< IK;IUBG<=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pi?

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pip

0'36$8+% )8%)/0".%3",$8&' 1 #%0"*)')= )* +' '0')*."' ' +%#

$"*.3%# 0%,$*.3%&4,*%#

f= '+78,%# '38,$*# #%-&* +' O")' '0')/."0'

+I IEEBLK ECDEBDKFD ;D HI< IEI;DUBI< ;DFDCUBKIK DK YRDKI UD;B;IS DK DH EGKFBKDKXFD IUDCBEIKGS HG< IWIFICD< ICFM<FBEG< DK HI <DVRK;I UBFI; ;DH <BVHG `"` Q DK D<TDEBIH DHkHFBUG ERICFG ;D HI EDKFRCBI= ' HI HIYGC ;D HI< QI DcB<FDKFD<S ^RD EGK<GHB;ICGK <RIEEBLKS CDGCVIKBbIK;G <R< IEFBWB;I;D< Q TCGVCIUI<S Q CDKGWIK;G <R< THIKFDHD< ;GXEDKFD< EGUG NRD DH EI<G ;D HI ;D #IK 0ICHG< ;D ._cBEG I TICFBC ;D fjhpS <D IVCDVICGKHI EGKFBKRB;I; ;D HI ;D #IK 'HDZIK;CG ;D 0RYI Q HI 'EI;DUBI ;D )BYRZG Q 3BKFRCI ;D+BUIS G DH <RCVBUBDKFG ;D GFCI< ^RD aIYCMIK ;D <DC ;DFDCUBKIKFD< DK HI D<FIYBHBbIEBLK;D HI< ICFD< DK <R< TIM<D<= *KFCD D<FI< TG;DUG< <DdIHIC EGUG HI< U\< BUTGCFIKFD< HI*<ERDHI ;D 3BKFRCI ;D 0aBHD ECDI;I DK fjhg YIZG HG< IR<TBEBG< ;DH VGYBDCKG ;D .IXKRDH -RHKD<l HI 'EI;DUBI ;D )BYRZG Q 3BKFRCI NRK;I;I TGC +RB< 0I;DKI DK fjif Q HI*<ERDHI ;D -DHHI< 'CFD< ;BCBVB;I TGC _H UB<UG I TICFBC ;D <R <RCVBUBDKFG DK fjs?S DKDH *ERI;GCl DH "K<FBFRFG ;D -DHHI< 'CFD<S DK 0ICIEI<S DK fjshS YI<D TICI HI NRK;IEBLK;D HI 'EI;DUBI ,IEBGKIH ;D -DHHI< 'CFD< DK fjjsl HI #GEBD;I; *<FMURHG ;D -DHHI<'CFD<S ECDI;I DK -RDKG< 'BCD< DK fjsi ^RD HHDWL I HI 'EI;DUBI ,IEBGKIH ;D -DHHI<'CFD< DK fg@Al DH "K<FBFRFG ;D -DHHI< 'CFD<S ;D 0GHGUYBIS DK fjj?S ^RD IYCBL TI<G I HI*<ERDHI ,IEBGKIH ;D -DHHI< 'CFD< NRK;I;I DK fjjiS Q HI *<ERDHI ,IEBGKIH ;D 'CFD< Q%NBEBG< <RCVB;I DK DH 8CRVRIQ DK HI UB<UI _TGEI=

)D D<FI< D<ERDHI< <IHBDCGK KGFIYHD< ICFB<FI< ^RD EGKNBVRCICGK RK ;D<FIEI;G TIKGXCIUI TICI HI< ICFD< TH\<FBEI< ;DH EGKFBKDKFD= *K UREaG< EI<G< HG< TCGND<GCD< NRDCGKEGKFCIFI;G< DK HI< IEI;DUBI< DRCGTDI<S EGK HI NBKIHB;I; ;D NGCUIC ;B<EMTRHG< EITIEBXFI;G< ^RD TR;BDCIK <IFB<NIEDC HI ECDEBDKFD ;DUIK;I <GEBIH ;D GYCI< ;D ICFDS I;DU\< ;DBC ;D<TDCFIK;G DK DH TkYHBEG DH VR<FG TGC HI< UB<UI< Q IUTHBIK;G ;D D<FI UIKDCI HIEHBDKFDHI= *<FI <BFRIEBLK aIYCMI ;D IEDKFRIC<D EGK DH D<FIYHDEBUBDKFG ;D VGYBDCKG<[INCIKED<I;G<] ^RD ^RDCMIK EGKWDCFBC I <R< TIM<D< DK NBDHD< CDNHDZG< ;D HI <GEBD;I;TICB<BKI=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pih

2RD BKFDKEBLK ;D HG< ;BCBVDKFD< IUDCBEIKG<S I;DU\< ;D HG TCGTBIUDKFD IEI;_UBEGSNGCUIFBWGS I<RUBC GFCI< FICDI< EGK DH NBK ;D ECDIC RK BKFDC_< <GEBIH TGC DH ICFD D BCEGKNGCUIK;G RK UDCEI;G ^RD TCGTBEBICI DH EGHDEEBGKB<UG= *H UG;DHG I <DVRBC DCISTRD<S 3ICM<S Q DK DH ;D<DG ;D EGKNGCUIC D<D [\UYBFG ICFM<FBEG] RKG ;D HG< IKaDHG< U\<TDC<DVRB;G< NRD DH ;D D<FIYHDEDC <IHGKD< IKRIHD< I HI UIKDCI ;D HG< ^RD <D GCVIKBbIXYIK DK HI EITBFIH NCIKED<IS EGK WICBD;I; ;D GYCI<S KkUDCG ECDEBDKFD ;D WB<BFIKFD<STCDUBG<S BKIRVRCIEBGKD< ^RD <D EGKWDCFMIK DK IEFG< <GEBIHD< ;D CDHDWIKEBI EGK HITCD<DKEBI ;D IRFGCB;I;D<S TDC<GKIHB;I;D< Q ECMFBEG<S DFE=S Q ^RD ;BDCGK GCBVDK I TRYHBXEIEBGKD< D<TDEBIHBbI;I< Q UGFBWICGK ^RD <D ECDICI RK BUTGCFIKFM<BUG UDCEI;G TICIHI< GYCI< Q HG< TCG;REFG< INBKD<=

'H EGKFCIFIC I HG< TCGND<GCD<S HI< IRFGCB;I;D< TR<BDCGK D<TDEBIH IFDKEBLK DK ^RDI^RDHHG< <D aRYBDCIK NGCUI;G DK HG< EDKFCG< U\< TCD<FBVBG<G< ;D *RCGTIS ERQG TCBUDCHRVIC HG GERTIYI &GUI Q DK D<TDEBIH HI 'EI;DUBI ;D #IK +REI<S TIKIEDI ;D HINGCUIEBLK IEI;_UBEI BKEHR<BWD TICI GFCG< TIM<D< ;D I^R_H EGKFBKDKFD EGUG 2CIKEBISTIM< DK ERQG< EGKERC<G< IEI;_UBEG< <GHMI GFGCVIC<D EGUG TCDUBG RKI YDEI ;D TDCNDEXEBGKIUBDKFG DK HI EITBFIH ;D "FIHBI= *K D<D TIM< ;D<FIEIYIK GFCG< EDKFCG< EGUG 2HGCDKXEBI G .BH\K=

+LVBEIUDKFD 3ICM< DCI EGK<B;DCI;I UDEI ;D VCIK CDTRFIEBLK DK HI WB;I IEI;_UBEID BKEHR<BWDS EGK DH FBDUTGS <R TCD<FBVBG NRD <RTDCIK;G TIRHIFBKIUDKFD IH ;D &GUISERQI< KGCUI< ;D DK<DdIKbI NRDCGK TDCUIKDEBDK;G D<F\FBEI<S IZDKI< I HG< WBDKFG<CDKGWI;GCD< ^RD <M TCGTBEBIYI HI EITBFIH NCIKED<I= *K D<FD <DKFB;G HG< U_FG;G< ;DNGCUIEBLK ^RD <D BUTHIKFICGK DK HG< TIM<D< IUDCBEIKG< CD<RHFICGK FIUYB_K GY<GHDFG<Q I WDED< aI<FI BKIUGWBYHD< Q HI< NLCURHI< EI;REI< ;D HI D<ERDHI KG TR;BDCGK CD<B<FBCDH IWIKED ;D HI< KRDWI< EGCCBDKFD< KIFRCIHB<FI< ;D NBKIHD< ;DH `"` Q TCBKEBTBG< ;DH ``=*H TBKFGC ICVDKFBKG .ICFMK .IHaICCG CDEGC;IYI EGK BK;BNDCDKEBI Q ;D<VIKG HI< EHI<D<^RD DH TCGND<GC BFIHBIKG 2CIKED<EG &GUDCG HD aIYMI BUTICFB;G DK HI #GEBD;I; *<FMURHG;D -DHHI< 'CFD<5 [+I EGTBI ;D D<FIUTI< TCBUDCGS DK ERQI TC\EFBEI TI<\YIUG< IdG<IKFD CDTCG;REEBGKD< ;D EH\<BEG<===l HG< NCIVUDKFG< ;D QD<GS ;D<TR_<S Q HI< EGTBI< ;DD<FIFRI< U\< FIC;DS EGKEHRQDCGK TGC <DC RKI GY<D<BLK= +G< D<FR;BG< ;D ODKR<S 'TGHGS)B<ELYGHGS 2IRKGS 7HI;BI;GCS DFE=S <D CDTDFMIK IVGFIK;G DH EIR;IH ;D YRDKI WGHRKFI;;D UREaG< ;D KG<GFCG<]= *K ._cBEGS eG<_ 0HDUDKFD %CGbEGS IH CDNDCBC<D I HI< EHI<D<;D FCIZD ^RD ;BEFIYI DK HI *<ERDHI ,IEBGKIH ;D -DHHI< 'CFD< DH EIFIH\K 'KFGKBG 2IYC_<SCDEGC;IYI5 [3ICI HG< UG;DHG< WD<FB;G< FCIZG ;D *RCGTI RKI VCIK EIKFB;I; ;D WD<FBXUDKFI<S ICUI;RCI<S THRUIZD<S EaIUYDCVG<S EITI< Q GFCI< TCDK;I< IHVG EICKIWIHD<EI<SURQ I HI UG;I DKFGKED< DK HG< D<FR;BG< ;D TBKFGCD< IEI;_UBEG<= 0GK D<FI EGHDEEBLK;D ;B<NCIED< DCI TG<BYHD TBKFIC ;DH KIFRCIH UG<^RDFDCG<S FGCDCG<S TIZD<S G;IHB<EI<S UIXKGHI<S KBKNI<S YIK;B;G<S EaRHG< Q GFCI BKNBKB;I; ;D FBTG< TBKFGCD<EG< I ^RD FIK INDEFG<DCIK HG< ICFB<FI< Q HG< TkYHBEG< ;DH <BVHG TI<I;G]=

*<FD [BKUGWBHB<UG] IEI;_UBEG TGEG <D UG;BNBEL EGK HI IEEBLK ;D HG< TCGTBG<ICFB<FI< HGEIHD< ^RDS HRDVG ;D HI NGCUIEBLK BKBEBIH CDEBYB;I DK HI< IEI;DUBI< ;D <R<TIM<D<S EGKECDFIYIK DH IKaDHI;G <RDdG ;D TDCNDEEBGKIC<D DK HI< D<ERDHI< ;D *RCGTIS;GK;D <GHMIK TDCUIKDEDC IHVRKG< IdG< YDEI;G< TGC HG VDKDCIH TGC <R< TCGTBG< VGXYBDCKG<S ^RD TIRHIFBKIUDKFD TCGTBEBICGK DH GFGCVIUBDKFG ;D TCDUBG< ;D WBIZD DK DcXTG<BEBGKD< KIEBGKIHD< G EGKERC<G< ;D HI< IEI;DUBI<= ,G ;DYD <G<HIQIC<D ^RD DKUREaG< EI<G<S <B KG UIKBND<FICGK D<FG< ZLWDKD< RKI BKEHBKIEBLK I [UG;DCKBbIC<D] DK

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# piA

*RCGTIS NRD TGC DH aDEaG ;D ^RD I <R CDVCD<G I HG< TIM<D< ;D GCBVDK <R NRFRCG <DDKEGKFCIYI G YBDK DK DH DZDCEBEBG ;D HI TCGND<BLK ;GEDKFDS ;DKFCG ;D HI ERIH ;DYMIK<RZDFIC<D I HI< KGCUI< IEI;_UBEI< WBVDKFD<S G YBDK VIKIC<D DH <R<FDKFG CDIHBbIK;GGYCI< TGC DKEICVGS DK HI< ERIHD< FIUYB_K <D aIHHIYIK ;DTDK;BDKFD< ;D HI< BK;BEIEBGXKD< ;D HG< EGUBFDKFD<=

?= '&$* 1 #%0"*)') ' 2",'+*# )*+ `"`

+I BKFDKEBLK ^RD VRBL TGC HG VDKDCIH I ^RBDKD< ;D;BEICGK <R< INIKD< I CDIHBbICGYCI< ;D FDU\FBEI <GEBIH NRD HI ;D TBKFIC EGUG HG< DRCGTDG< ;D _cBFGS HG< ^RD IEITIXCIYIK HI< UIQGCD< IFDKEBGKD< Q aGKGCD< DK HG< <IHGKD< GNBEBIHD<S Q NRD BKEDKFBWI;GDKFCD GFCG< UD;BG< TGC HI EBCERHIEBLK ;D FICZDFI< TG<FIHD< EGK CDTCG;REEBGKD< ;D HI<GYCI< ;D TBKFGCD< NCIKED<D< EGUG {BHHBIU ';GHTaD -GRVRDCDIR G *CKD<F .DB<<GKBDC=+G< EBFI;G< ICFB<FI< VGbICGK ;D RKI <LHB;I TG<BEBLK DEGKLUBEI Q TR;BDCGK BC I<TBCIKX;G VCI;RIHUDKFD I UDZGCIC <R KBWDH ;D WB;I aI<FI EGKWDCFBC<D DK EDHDYCB;I;D< [YBDKTIVI;I<]= *H I<EDK<G <GEBIH ;D HG< ICFB<FI<S TCG;REB;G ZRKFG IH ;D HI YRCVRD<MI I;BKDXCI;I EGKWDCFB;I DK EHBDKFDHIS TRD;D CDNHDZIC<D TDCNDEFIUDKFD I FCIW_< ;D .DB<<GKBDCSTG<DD;GC ;D RKI <RKFRG<I WBWBDK;IS IRK^RD FIUYB_K D< WDC;I; ^RD UREaG< ICFB<FI<E_HDYCD< EGUG !GKGC_ )IRUBDCS eDIKX2CIK‡GB< .BHHDFS OBKEDKF OIK 7GVa G 3IRH 7IRXVRBKS WBWBDCGK Q URCBDCGK DK HI UB<DCBI=

+I CDIHBbIEBLK ;D TBKFRCI< ;D FBKFD <GEBIH Q [UGCIHBbIKFD] FCIMI ITICDZI;I TICI HG<ICFB<FI< HI TG<BYBHB;I; ;D <DC CDEGKGEB;G< DK *RCGTI Q EGK<IVCI;G< DK <R< TIM<D<SEGUG GERCCBL DK WICBG< EI<G<= 'H CD<TDEFG D< D<EHICDED;GCI HI NCI<D ;DH WDKDbGHIKG0CB<FLYIH &GZI< D<ECBFI DK 3ICM< DK fjjj CDNBCB_K;G<D I <R GYCI *H 3HIbG ODKEB;G TCD<DKFI;I IH #IHLK5 [aD TRD<FG HI UI;CD EGK ;G< EaB^RBFG< Q FCD< G ERIFCG aGUYCD<^RD WBDKDK I DEaIC [HG< EGCGFG<] I HI EIHHD TICI GYHBVICHI ;D D<D UG;G I <IHBC= ODCDXUG< EGUG ^RD;I D<FD KRDWG TCGQDEFGS Q <B I NRDCbI ;D H\VCBUI< Q FCB<FDbI TRD;GEGKUGWDC I HG< .BDUYCG< ;DH eRCI;G ;D 3BKFRCI Q UD ;IK ;D D<D UG;G RKI UD;IXHHI===]= *<FI BKFDKEBLK ;D [EGKUGWDC] I HG< ZRCI;G<S ;D HGVCIC <R YDKDWGHDKEBI I HIaGCI ;D GFGCVIC TCDUBG< DK HG< <IHGKD< DRCGTDG<S VRBL HI HIYGC ;D KRUDCG<G< ICFB<FI<;DH EGKFBKDKFD IUDCBEIKGS TR;B_K;G<D <DdIHIC GYCI< EGUG *H VCIKBbG ;D &DBU< Q *H KBdG DKNDCUG CDIHBbI;I< TGC GFCG WDKDbGHIKGS 'CFRCG .BEaDHDKIS #BK TIK Q <BK FCIYIZG ;DH ICVDKFBKG *CKD<FG ;D HI 0\CEGWI Q *H IHURDCbG ;D HG< TGYCD< ;D <R EGUTIFCBGFI3MG 0GHHBWI;BKG=

*K "YDCGIU_CBEIS DH ;D<ICCGHHG ;D HI< IEFBWB;I;D< ICFM<FBEI< D<FRWG <BVKI;G TGC HI KDEDX<B;I; ;D INBCUIEBLK DEGKLUBEI ;D HG< TBKFGCD<S TGC HG VDKDCIH I UDCED; ;D HI< NHREFRIEBGXKD< ;DH UDCEI;G Q ;D HG< ;BEF\UDKD< ;DH UB<UG= *H UICEI;G VR<FG TGC HI TBKFRCI DRCGTDISHI DHDVB;I TGC HG< EGHDEEBGKB<FI< TICI ;DEGCIC <R< CD<B;DKEBI< Q IRUDKFIC <R TCD<FBVBG<GEBIHS ;DFDCUBKL HI TG<FDCVIEBLK ;D HG< ICFB<FI< IUDCBEIKG< ̂ RBDKD< ;DYBDCGK BKVDKB\C<DXHI< TICI ;IC EGKFBKRB;I; I <R WGEIEBLK= 8KG ;D HG< UG;G< ̂ RD I;GTFICGK HG< ICFB<FI< TICICD;REBC VI<FG< EGK<B<FBL DK ;DZIC HI EBR;I; TICI FCI<HI;IC<D IH EIUTGS ;GK;D DH EG<FG ;DWB;I DCI CDHIFBWIUDKFD UDKGC Q DK ;GK;D DKEGKFCICMIK BKKRUDCIYHD< UGFBWG< ̂ RD <D DKXERI;CIYIK TDCNDEFIUDKFD DK HI< EGCCBDKFD< KIEBGKIHB<FI< DK YGVIS DK D<TDEBIH DH TIB<IZD QHI< EG<FRUYCD<S IKIHBbI;I< DK DH EITMFRHG IKFDCBGC= .BDKFCI<S DK *RCGTIS UREaG< ;D HG<

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pii

ICFB<FI< ^RD <D aIYMIK ;BCBVB;G I D<D EGKFBKDKFD I TDCNDEEBGKIC<DS <D DKEGKFCICGK EGK HIKDED<B;I; ;D FDKDC ^RD <R<FDKFIC<D EGK YDEI< ERQI EIKFB;I; KG DCI <BDUTCD <RNBEBDKFD=*<FG< DUGHRUDKFG< <GHMIK <DCWBC <GHIUDKFD ;D D<FMURHG TDC<GKIH TDCG KG ERYCMIK HI< TCDXGERTIEBGKD< UIFDCBIHD< ;D HG< ICFB<FI< KB TDCUBFMIK ;D<ICCGHHIC EGK EBDCFG CD<TBCG <R< HIYGXCD< QS TGC DK;DS <RTDCIC<D I <M UB<UG<=

8KI ;D HI< TG<BYBHB;I;D< U\< BKFDCD<IKFD< TICI EGKGEDC HI CDIHB;I; ;D HG< ICFB<FI<S<R NGCUI ;D FCIYIZIC Q <R< VR<FG< D<F_FBEG<S HI TCGTGCEBGKIK GYCI< TGC DHHG< CDIHBbI;I<DK HI< ERIHD< <GK <R< FIHHDCD< DH GYZDFG ;D CDTCD<DKFIEBLK= +RVICD< TCBUGC;BIHD< QKDED<ICBG< TICI DH ;D<ICCGHHG ;D HI< FICDI< ICFM<FBEI<S HG< FIHHDCD< ;D HG< TBKFGCD< ;D<FIXEICGK I HG HICVG ;D HI aB<FGCBI TGC HI< WICBGTBKFI< TDERHBICB;I;D< ^RD HD< ;B<FBKVRBDCGK<DVkK HG< EI<G<S TDCG FIUYB_K TGC EICIEFDCM<FBEI< EGURKD< ^RDS IKIHBbI;I< DK EGKZRKXFGS TDCUBFDK EGUTGKDC RKI CI;BGVCINMI ITCGcBUI;I ;D ELUG Q EGK ^R_ UD;BG< <DCDIHBbICGK ;BEaI< FICDI<= *K HI UIQGCMI ;D HG< TIM<D< BYDCGIUDCBEIKG< DcB<FDK TBKFRCI<

^RD CDTCD<DKFIK IFDHBDCD< ;D ICFB<FI<S Q DK FIH <DKFB;G TG;CMIUG< <DdIHIC ;G< GYCI< ^RDKG< BHR<FCIK NBDHUDKFD HI< EICIEFDCM<FBEI< FMTBEI< ;D HG< UB<UG<5 *<FR;BG ;DH TBKFGC

'&$8&% ."0!*+*,' :O*,*98*+'>= *+ ,"P% *,2*&.% :fjji>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pis

?= 2&',0"#0% ',$%,"% 0',% :0%+%.-"'>= *#$8)"% )*+ 3",$%& :fjjA>=

:fjjA> ;DH EGHGUYBIKG 2CIKEB<EG 'KFGKBG 0IKG Q *H ;D<EIK<G ;D HI UG;DHG :fjj?>;DH YCI<BHDdG eG<_ 2DCCIb ;D 'HUDB;I ekKBGC=

*K HG ^RD CD<TDEFI I HI GYCI ;D 0IKGS DH ICFB<FI <D CDTCD<DKFI [I <M UB<UG DK DHEDKFCG ;DH ERI;CGS UBDKFCI< ;BYRZIYI DK RK HBDKbG I RKI EIUTD<BKI TGYCD EGK <R aBZG='H HI;G ;DCDEaGS 7IYCBDH .GKFGQI ;BYRZIS Q .DHBFLK &G;CMVRDbS EI<B RK KBdGS ITICDED;B<FCIM;G TGC RK UGUDKFG]S <DVkK ;D<ECBYD +GK;GdG O_HDb= ' D<FI ;D<ECBTEBLK TG;DXUG< IdI;BC HI TCD<DKEBI ;D HI< GYCI< ;D ICFD ^RD ITICDEDK DK HI D<EDKI Q ^RD EGKNBXVRCIK FIUYB_K DH \UYBFG ;D TCG;REEBLK ;DH ICFB<FI5 ;G< CDFCIFG<S RK ERI;CG ;D FDU\FBEICDHBVBG QS ;DYIZG ;D _<FDS TICDEDCMI I;BWBKIC<D RK TD^RDXdG YG;DVLK= *K DH URDYHD D<ECBFGCBG <D ITCDEBIKS DK DH D<FIKFD <RTDCBGCS RKI EICFI ;DWB<BFIS RK TGCFIUBKBIFRCI Q RK TD^RDdG YR<FG= )DYDUG< IdI;BC EGUG ;IFG ;D BUTGCXFIKEBI ^RD DH EBFI;G .DHBFLK &G;CMVRDb aIYCMI ;D EGKWDCFBC<D DK RKG ;D HG< NGFLVCIXNG< U\< TCD<FBVBG<G< DK HI aB<FGCBI ;D <R TIM<= +I< EICIEFDCM<FBEI< <DdIHI;I< <GK BK;BEIFBWI<;DH D<FBHG ;D GYCI< ^RD CDIHBbIYI RK ICFB<FI FBTG ;D D<I _TGEI DK 0GHGUYBIS DK D<FDEI<G 0IKGS ;GK;D <D UDbEHIK HI< ^RD TG;CMIUG< EGK<B;DCIC ;D DKEICVGS EGUG CDFCIFG<Q TBKFRCI< CDHBVBG<I<S EGK GFCI< ^RD <D BYIK EGK<GHB;IK;G DK DH VR<FG EGKFDUTGC\KDGSD<DKEBIHUDKFD HI ^RD DK D<D UGUDKFG <D aIHHI TBKFIK;G DH ICFB<FI DK ERD<FBLK5 RKIBK;MVDKI EGK <R aBZGS ERI;CG DKUICEI;G ;DKFCG ;DH EG<FRUYCB<UGS D<F_FBEI ^RD aIYMITRD<FG ;D UG;I QI ;D<;D WICBI< ;_EI;I< IKFD< HG< WBIZDCG< ;DH CGUIKFBEB<UG DRCGTDG=0IKGS D<DKEBIHUDKFD TBKFGC ;D FIHHDCS ;D<EGKFDcFRIHBbI I HI BK;MVDKI DcFCIQ_K;GHI ;D<R UD;BG KIFRCIHS TICI BKEGCTGCICHI EGUG UG;DHG I <R D<FR;BG=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pij

*K ERIKFG I 'HUDB;I ekKBGC Q I <R GYCI *H ;D<EIK<G ;D HI UG;DHG S ;D EGCFDKDFIUDKFD IEI;_UBEGS NRD TBKFI;I DK 3ICM< ;RCIKFD <R< IdG< ;D TDCNDEEBGKIUBDKFG DKHI *<ERDHI #RTDCBGC ;D -DHHI< 'CFD< Q TCD<DKFI;I DK DH #IHLK ;D HI EITBFIH NCIKED<I DKfjj?= *H HBDKbG KG< URD<FCI IH ICFB<FI <DKFI;GS NCDKFD IH EIYIHHDFDS ITCGWDEaIK;G RKCDECDG DK <R< FICDI<S TICDEBDCI ^RD IEGUTIdIK;G EGK HI< UIKG< DH CBFUG TCGTRD<FG;D<;D HI< FDEHI< ;DH TBIKG TGC RKI <GKCBDKFD UG;DHG= +I D<EDKI FCIK<ERCCD DK RKIFDHBDCS DK D<FD EI<G TICB<BKGS DK ;GK;D <D ITCDEBIK ;BWDC<G< DHDUDKFG< ^RD KG< IEDCXEIK I 2GCFRKQS EGUG HI IHNGUYCIS HG< FITBED<S HG< VCIK;D< CDEBTBDKFD< UDF\HBEG< ;D

I;GCKGS ICUI<S BK<FCRUDKFG< UR<BEIHD< Q GYZDFG< ;D EDC\UBEI= +I TCD<DKEBI ;DH TBIKGS<RUI;G IH ;D RK HBYCG ^RD <D I;BWBKI <GYCD HI UD<IS DK DH HI;G ;DCDEaG ;DH ERI;CGSUICEIK HI BKFDKEBLK ;D BKFDVCIC DK HI GYCIS I;DU\< ;D HI TBKFRCIS GYZDFG< ^RD <BUYGXHBbI<DK GFCI< UIKBND<FIEBGKD< ;DH D<TMCBFR EGUG <DC HI Uk<BEI Q HI HBFDCIFRCIS TC\EFBEI^RD <GHMI <DC YI<FIKFD aIYBFRIH=

p= '&$* 1 &*"O",)"0'0"J, #%0"'+= $*#$".%,"%# )*+ #"7+% ``

*KFCI;G DH <BVHG ``S RKG ;D HI< TCBUDCG< FD<FBUGKBG< ;D CDHDWIKEBI DK ERIKFG I HI

RFBHB;I; ;DH ICFD EGUG aDCCIUBDKFI ;D CDBWBK;BEIEBLK <GEBIH HG FDKDUG< DK DH UGWBXUBDKFG URCIHB<FI UDcBEIKGS FDUI IEGUDFB;G DK DH EITMFRHG ;D;BEI;G IH "K;BVDKB<UG=

e%#/ 2*&&'9 )* '+.*")' e&= :-&'#"+>= *+ )*#0',#% )* +' .%)*+% :fjj?>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pig

eR<FIUDKFD DK ._cBEGS HG< IdG< WDBKFD UG<FCICGK RK IUTHBG IYIKBEG ;D DcTCD<BGKD<FDK;DKFD< I BKFDVCIC IH BK;MVDKI Q IH aIYBFIKFD CRCIH DK HI WB;I Q DH ^RDaIEDC ERHFRCIH;DH TIM<5 HI D;REIEBLK <DCMI DH TRKFG ;D TICFB;I TICI D<FI CDTICIEBLK aB<FLCBEI= 1 HIUB<UI ;DYMI INBCUIC<D ;D<;D HI YI<DS D< ;DEBC EDKFCIK;G HI< IFDKEBGKD< DK KBdG< DKD;I; D<EGHIC= 8KI ;D HI< DcTDCBDKEBI< U\< <GYCD<IHBDKFD NRD HI ^RD FRWG EGUG ICFMNBEDI 'HNCD;G &IUG< .ICFMKDbS NRK;I;GC ;D RKI <DCBD ;D D<ERDHI< ;D TBKFRCI IH IBCD HBYCDDKFCD fgfp Q fg?AS DK HI< ^RDS <DVkK <R< TIHIYCI<S [<D aI HGVCI;G DH UBHIVCG5 KBdG< <BKKBKVRKI ERHFRCIS TDCG ;GFI;G< UICIWBHHG<IUDKFD ;D <DK<BYBHB;I; Q DUGEBLKS KG< <GCXTCDK;DKS DK<Dd\K;GKG< HG ^RD HI CIbI TG<DD ;D U\< TRCG Q DUGFBWG]=

*<FI< D<ERDHI< TDC<BVRBDCGK EGUG NBKIHB;I; TCBWBHDVBIC HI D<TGKFIKDB;I; ;D HG<KBdG< TGC DKEBUI ;D HI< BK<FCREEBGKD< D<F_FBEI<S HI ;D TCGTDK;DC I RK ICFD BUIVBKIFBWG<GYCD HI< DcTCD<BGKD< BUBFIFBWI<S Q HI KDED<B;I; ;D ;D<TDCFIC DK DH D<TMCBFR ;DH KBdGRKI DUGEBLK ICFM<FBEI NCDKFD I HI KIFRCIHDbI= )DKFCG ;DH ITICFI;G ;D [D<ERDHI< ;DIEEBLK] DK HI< ^RD D<FIYIK EGUTCDK;B;I< HI< D<ERDHI< ;D TBKFRCI IH IBCD HBYCDS <D IYCBLDK UICbG ;D fg?sS DK DH TIFBG ;DH DcXEGKWDKFG ;D +I .DCED;S HI *<ERDHI ;D *<ERHFRCIQ $IHHI )BCDEFIS ECDI;I Q ;BCBVB;I TGC 7RBHHDCUG &RBbS EGK HI BKFDKEBLK ;D BUTICFBCDK<DdIKbI FIKFG I HG< GYCDCG< EGUG I HG< KBdG<S Q ;D CDWBWBC DH D<THDK;GC ;D HID<ERHFRCI TCDaB<T\KBEI= *K HG< IdG< <BVRBDKFD< <D aBEBDCGK D<NRDCbG< TGC IUTHBIC HIDcTDCBDKEBI DK HG< \UYBFG< CRCIHD<S ;D<FIEIK;G HI ECDIEBLK ;D RKI #DEEBLK ;D $IHHI)BCDEFI DK HI D<ERDHI CRCIH ;D +I .IV;IHDKI 'FHBETIE :$DcEGEG> EGK ITGQG ;D HI#DECDFICMI ;D *;REIEBLKS ^RD <D aICMI DcFDK<BWI DK fgp@ I GFCI< D<ERDHI< CRCIHD<EGUG +G< &DQD<S `GEaBIEI Q 0aBUIHaRIE\K=

,"P%# )* +' *#08*+' )* 3",$8&' '+ '"&* +"-&*S `%0!"."+0% :./`"0%> :fg?i>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ps@

+G< IdG< FCDBKFI DK DH EGKFBKDKFD IUDCBEIKGS Q TGC DK;D <R< UIKBND<FIEBGKD< ICFM<XFBEI<S FDK;CMIK EGUG RKG ;D <R< NIEFGCD< ;DFDCUBKIKFD< DH ;DEHBWD DEGKLUBEG ^RDS EGKDNDEFG ;GUBKLS INDEFL I HG< UDCEI;G< BKFDCKIEBGKIHD< FCI< DH ECIEn ;D HI YGH<I ;D,RDWI 1GCn DK fg?g= +I ;DEI;DKEBI KG <LHG ;BG GCBVDK I HI EIM;I ;D WICBG< VGYBDCXKG<S <BKG ^RD <RUBL I YRDKI TICFD ;D HI TGYHIEBLK DK RKI ;DTCD<BLK UGKDFICBI IEDKXFRI;I= +I< EGK<DERDKEBI< ;D DHHG <DCMIK CDEGVB;I< TGC UREaG< ICFB<FI< TICI HI CDIHBbIEBLK;D <R< GYCI<S TR;B_K;G<D <DdIHIC I DS ^RDCD;BFIYIK EGK EHIWD< D<F_FBEI< U\< IWIKbI;I< CDEGCI;G< HBDKbG< EGUG *H EIUBKG ;D HG< FCIYIZI;GCD< S TBKFI;G TGC DH BFIHBIKG 7BR<DTTD 3DHHBbbI ;I OGHTD;G DK fjgj= .BDKXFCI<S HG< URCIHB<FI< UDcBEIKG< VGbIYIK DK D<G< UGUDKFG< ;D KRUDCG<G< DKEICVG< DKHG< *<FI;G< 8KB;G<S TGFDKEBIK;G I<M DH EIC\EFDC BKFDCKIEBGKIHB<FI ;DH UGWBUBDKFG Q <RBCCI;BIEBLK EGKFBKDKFIH= "KNHRB;G DK TICFD TGC DHHG<S ;D<FIEICMI DK -CI<BH HI NBVRCI ;D0\K;B;G 3GCFBKICBS BKEHBKI;G DK <R< GYCI=

'RK ERIK;G 3ICM< Q GFCG< EDKFCG< ICFM<FBEG< <BVRBDCGK UICEIK;G CBFUG< DK HI< TCGX;REEBGKD< ;DH ICFD IUDCBEIKGS DH ;D<DG ;D EGURKBEIC HDKVRIZD< KIEB;G< ;D HI TCGTBIDcTDCBDKEBI NRD aIEB_K;G<D EI;I WDb U\< TIFDKFDS EGK<GHB;\K;G<D DK HG< IdG< p@ Qh@S DK HG< ^RD HI< WIKVRIC;BI< BKFDCKIEBGKIHD< NRDCGK TDC;BDK;G <R WBVGC DK NIWGC ;D

',$%,"% -*&," :'&7*,$",'>= .',"2*#$'0"J, :fgph>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# psf

RKI TCDGERTIEBLK TGC DH <DC aRUIKG Q DH TCGTBG EGKFDcFG <GEBIH= eR<FIUDKFD D<FG <DUIKBNBD<FI EHICIUDKFD DK DH EI<G YCI<BHDdGS DK DH ^RDS I HI TIC ;DH [NDKLUDKG 3GCFBKIXCB]S <D BKECDUDKFL DK -CI<BH DH KkUDCG ;D ICFB<FI< BKFDCD<I;G< TGC DH DcTCD<BGKB<UGS<RED<G IEDKFRI;G TGC DH ;D<DG ;D CD<B<FDKEBI I HI ;BEFI;RCI ;D 7DFRHBG OICVI< Q TGCHI KDED<B;I; ;D ;DKRKEBIC HG< TCGYHDUI< <GEBIHD< ;DH TIM<=

"K;R;IYHDUDKFDS RKI ;D HI< DcTDCBDKEBI< ICFM<FBEI< U\< KGFIYHD< ;D ERIKFI< <D<RED;BDCGK DK DH EGKFBKDKFD ;DKFCG ;DH ICFD ;D FBKFD <GEBIH NRD DH $IHHDC ;D 7C\NBEI3GTRHICS <RCVB;G DK ._cBEG DK fgps= *<FI BK<FBFREBLK D<FRWG EGKNGCUI;I TGC RKEGKZRKFG ;D ICFB<FI<S DKFCD HG< ^RD TG;DUG< UDKEBGKIC I &IkH 'KVRBIKGS 3IYHG %m!BVVBK<Q +DGTGH;G ._K;DbS ^RBDKD< <D TCGTR<BDCGK EGKWDCFBC IH VCIYI;G DK RK UD;BG ;DEGUYIFD ;DH TRDYHGS EGUTHDUDKFIK;G I<M HI FICDI ^RD WDKMI CDIHBbIK;G DH URCIHB<UGSIRK^RD ;D NGCUI UI<BWI I FCIW_< ;D HI URHFBTHBEB;I; ;D CDTCG;REEBGKD<= *H TCGTBG._K;DbS EGK UGFBWG ;D HI TRYHBEIEBLK ;D RK \HYRU EGK UGFBWG ;D HG< ;GED IdG< ;DHI IVCRTIEBLKS <DdIHIYI EGUG GYZDFBWG DH [^RD HI EHI<D FCIYIZI;GCI TRD;I WDC ^RD KGFG;G DH ICFD KB FG;G< HG< ICFB<FI< HD <GK IZDKG<= qRD IHVRKG< ICFB<FI< HREaIK NBDHUDKFDI <R HI;G FCIFIK;G <BDUTCD ;D TGKDC <R EITIEB;I; ECDIFBWI IH <DCWBEBG ;DH TRDYHG]= +IBKBEBIFBWI WBKG I CDWDC;DEDC RKI FCI;BEBLK F_EKBEI DK HI ^RD DH VCIYI;GC eG<_ 7RI;IXHRTD 3G<I;I aIYMI ;D<EGHHI;G I NBKIHD< ;DH `"` Q TCBKEBTBG< ;DH ``=

*K 'CVDKFBKI aIYMI <B;G TICI DKFGKED< KGFIYHD HI HIYGC ;D HG< HHIUI;G< ['CFB<FI<;DH 3RDYHG]S VCRTG <RCVB;G aIEBI fgfpS Q ^RD DK YRDKI UD;B;I YI<IYI <R ICFD DK DHUDK<IZD <GEBIH ^RD TR;BDCI EGKFDKDCS DH EGUTCGUB<G EGK HI CDIHB;I; EBCERK;IKFDSBKEHBK\K;G<D aIEBI HI< CDBWBK;BEIEBGKD< ;DH TCGHDFICBI;G= eG<_ 'CIFGS 'YCIaIU OBVGS7RBHHDCUG 2IEBG !DYD^RDC Q ';GHNG -DHHGE^ NRDCGK <R< BKFDVCIKFD<S Q HI< F_EKBEI< ;D

04,)")% 3%&$",'&" :-&'#"+>= 0'2/ :fgph>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$ps?

DcTCD<BLK ^RD RFBHBbICGK NRDCGK HI cBHGVCINMIS DH VCIYI;G <GYCD UDFIH Q HI HBFGVCINMISD<FI kHFBUI ;D HICVI FCI;BEBLK DK DH TIM< ;D<;D HI IEEBLK ;D 0_<IC !BTLHBFG -IEHD DK DH<BVHG `"`= 2RDCGK <GYCD FG;G HG< BKUBVCIKFD< EGKEDKFCI;G< DK HG< EDKFCG< RCYIKG<^RBDKD< BK<TBCICGK I HG< ['CFB<FI< ;DH 3RDYHG] I IYGC;IC FDU\FBEI< CDNDCB;I< I HI<EGK;BEBGKD< ;D WB;I ;DH GYCDCGS DH TIB<IZD YICCBIHS DH URK;G ;DH <RYRCYBGS ;GK;D <DIHGZICGKS Q DH UGWBUBDKFG ;D HI< N\YCBEI<= *K HMKDI< VDKDCIHD<S Q DK HG ^RD aIED I HITCG;REEBLKS HI D<FIUTI NRD RK UD;BG ;D DcTCD<BLK HBVI;G I [HG TGTRHIC]S <BDK;G DHUD;BG B;DIH TICI TCG;REBC GYCI< DK <DCBDS I YIZG EG<FGS Q THIR<BYHD< ;D ;BNR<BLK UI<BX

WI=OBKERHI;G I ERD<FBGKD< ;D V_KDCGS TG;DUG< CDUICEIC HI TCD<DKEBI <BUYLHBEI ;D HI

URZDC DK HI< BU\VDKD< VC\NBEI<= *K D<FD <DKFB;G KG D< EI<RIH ^RDS IWIKbI;G DH <BVHGS HINBVRCI ;D HI TCG<FBFRFI aIQI FDKB;G RKI TCD<DKEBI ;DFDCUBKIKFD DK HI TCG;REEBLKVC\NBEI Q I WDED< aI<FI TBEFLCBEI ;D ICFB<FI< ;D HI FIHHI ;DH ICVDKFBKG 'KFGKBG -DCKBS^RBDK ECDL I &IUGKI .GKFBDHS TDC<GKIZD ;DH ^RD <D WIHBL ZRKFG I GFCG IH ^RD YIRFBbLEGUG eRIKBFG +IVRKIS TICI ;DKRKEBIC HI< UB<DCBI< ;D HI <GEBD;I; EGKFDUTGC\KDIS ITICFBC ;D HG< IdG< <D<DKFI= -DCKB <D WIHBL TICI <R< GYCI< ;DH DUTHDG ;D UIFDCBIHD< ;D;D<DEaG BK;R<FCBIHS GYCI< ^RD aIK IHEIKbI;G DK HG< kHFBUG< IdG< KGFGCBI WIHGCIEBLKDK DH UDCEI;G ;DH ICFD=

+I ;_EI;I ;D fgi@ NRD TCGHMNBEI DK ERIKFG I D<FD FBTG ;D DcTCD<BGKD< <GEBIHD<= *K'CVDKFBKIS I;DU\< ;D -DCKBS <GYCD<IHBL DH 7CRTG *<TICFIEGS ̂ RD <D TCGKRKEBL ;D<;D fgAg

+*%3%+)% ./,)*9 :./`"0%>= *+ )8*P% )* $%)% = )* +' #*&"*&6% *#0%,)")% :fghj>=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# psp

',$%,"% -*&," :'&7*,$",'>=e8',"$% +'78,' &*.%,$',)% #8 -'&&"+*$* :fgsp>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$psh

TGC RK ICFD [CDWGHREBGKICBG HIFBKGIUDCBEIKG]S YR<EIK;G CDTCD<DKFIC HI< NBVRCI< EGK RKIWB<BLK WGHRUBKG<I EI<B D<ERHFLCBEIS Q FDKBDK;G EGUG RKG ;D <R< YI<IUDKFG< HI NRDCFDBUTCGKFI ;DH URCIHB<UG UDcBEIKGS EGUG TRD;D ITCDEBIC<D DK HI GYCI ;D &BEIC;G 0ICTIKB=*K ._cBEG CIQL I VCIK IHFRCI HI GYCI ;DH ;BYRZIKFD eG<_ +RB< 0RDWI<S ^RBDK BKBEBL IHHM HI[,RDWI 2BVRCIEBLK]= "KNHRB;G TGC eG<_ 0HDUDKFD %CGbEGS <R GYCI <D EICIEFDCBbL TGC RKUICEI;G DcTCD<BGKB<UG DK DH ^RD NRDCGK EDKFCG ;D <R IFDKEBLK HI< EGKFCI;BEEBGKD< QGTCD<BGKD< ̂ RD DH IB<HIUBDKFG TCG;RED DK DH BK;BWB;RG=

+I HHIUI;I [,RDWI 2BVRCIEBLK] IHEIKbL KGFIYHD ICCIBVG DK "YDCGIU_CBEI ;RCIKFDHG< IdG< <D<DKFI= *K HMKDI< VDKDCIHD< D<FRWG EICIEFDCBbI;I TGC HI BK<IFB<NIEEBLK D<F_XFBEI Q <GEBIHS UIKBND<F\K;G<D DK VCIK UD;B;I EGUG RKI CDIEEBLK ;D HG< ICFB<FI< EGKFCIDH <B<FDUI BUTRD<FG TGC HG< VGYBDCKG< FGFIHBFICBG< DcFDK;B;G< I HG HICVG ;DH EGKFBKDKXFD= *K HG ^RD I HI< F_EKBEI< <D CDNBDCDS TRD;D ;DEBC<D ^RD HI HBYDCFI; DK DH R<G ;DUIFDCBIHD< KG EGKWDKEBGKIHD< IHEIKbI;G< DK DH ;D<ICCGHHG ;DH "KNGCUIHB<UGS <BCWBLEGUG YI<D TICI DH CDFGCKG I HDKVRIZD< NBVRCIFBWG<= *K HI 'CVDKFBKI ;D<FIEL DH VCRTG%FCI 2BVRCIEBLK :fgifXfgiA> NGCUI;G TGC eGCVD )D HI ODVIS *CKD<FG )DBCIS &LURHG.IEEBL Q +RB< 2DHBTD ,G_S ^RD TI<ICGK ;D HI IY<FCIEEBLK I HI NBVRCIEBLK I FCIW_< ;DHI NCIVUDKFIEBLK Q HI ;D<NBVRCIEBLK DcTCD<BGKB<FI= +I EGCCRTEBLK ;D HG< VGYBDCKG<NRD HDBFXUGFBW DK HI GYCI ;DH WDKDbGHIKG eIEGYG -GCVD<S I HI TIC ^RD eG<_ -IHUD<S DK0aBHDS aICMI CDNDCDKEBI I HG< ;D<ITICDEB;G< ;RCIKFD DH C_VBUDK UBHBFIC=

e'0%-% -%&7*# :O*,*98*+'>=+' 0%&%,'0"J, :*#$8)"% )* 8, 08')&% )* )'O")> :fgip>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# psA

*K -CI<BHS &RYDK< 7DCEaUIK Q 'KFŽKBG )BI<S DKFCD GFCG<S <D DKNCDKFICGK I HI UIKBXTRHIEBLK ;D HI ;BEFI;RCI VGYDCKIKFD DK DH TIM< ;D<;D fgih= +I< EGKFCI;BEEBGKD<TGHMFBEI< Q HI< ECB<B< <GEBGXDEGKLUBEI< ;D D<G< IdG< UICEICGK DH ICFDS BKFDCCRUTBDK;GDK EBDCFI UD;B;I DH IRVD ;D HI< EGCCBDKFD< EGK<FCREFBWI< Q TCGTBEBIK;G HI ITICBEBLK ;DHI ,RDWI 2BVRCIEBLK= *K DH UITI ICFM<FBEG YCI<BHDdG FGUICGK VCI;RIH BUTGCFIKEBIGFCG< EDKFCG< IHFDCKIFBWG< EGUG HG< ;DH ,GC;D<FD Q -DHG !GCBbGKFD= *K DH .R<DG ;D'CFD .G;DCKG ;D &MG ;D eIKDBCG <D HHDWICGK I EIYG ;G< DcTG<BEBGKD< FCI<EDK;DKFIHD<SHI< HHIUI;I< %TBKB…G :fgiAXfgii> ^RD EGKVCDVICGK I ICFB<FI< YCI<BHDdG< ZRKFG I GFCG<IEFBWG< DK 3ICM<S EGK DH aDEaG EGUkK ;D UIKBND<FIC <R< ECMFBEIS DK HI ^RD TICFBEBTICGK !DHBG %BFBEBEIS {IH;DUIC 0GC;DBCG Q HG< EBFI;G< )BI< Q7DCEaUIKS Q ^RD IYCBL TI<G I HI BKEGCTGCIEBLK ;D KRDWG< EGKEDTFG< DK HI GYCIICFM<FBEI EGUG DH GYZDFG G DH IUYBDKFDS I;^RBCBDK;G UIQGC CDHDWIKEBI DH TITDH ;DHD<TDEFI;GC EGUG TICFBEBTIKFD ;DH NDKLUDKG ICFM<FBEG= #D TCGTBEBL I<M DH 0GKEDTFRIHB<XUG IHEIKbIK;G CDHBDWDS I TICFBC ;D HG< IdG< s@ HI GYCI ;D $RKVI Q 0BH;G .DBCDHD<SCDEGC;I;G TGC <R< UDK<IZD< <RYWDC<BWG< BUTCD<G< DK YGFDHHI< ;D 0GEIX0GHI :fgs@> Q<R< BK<FIHIEBGKD< ;D HG< IdG< GEaDKFI DK HI< ^RD <D UIKBND<FL EGKFCI HI ;D<FCREEBLK;D HI< EGURKB;I;D< BK;MVDKI< I UIKG< ;D HI "VHD<BI Q DH EITBFIHB<UG=

0GUG aDCDKEBI ;D HI ,GXNBVRCIEBLK TRD;D <DdIHIC<D HI RFBHBbIEBLK ;D FG;G FBTG ;DUIFDCBIHD< TICI HI CDIHBbIEBLK ;D TBKFRCI< Q GYZDFG< ICFM<FBEG<S UIFDCBIHD< ;D<DEaIYHD< G[DKEGKFCI;G<]= *<FI KGWD;I;S ^RD <D TIHTI ZR<FIUDKFD DK HI ,RDWI 2BVRCIEBLKS <DC\FIUYB_K EICIEFDCM<FBEI ;DH 0GKEDTFRIHB<UG I TICFBC ;D HG< IdG< s@S IRK ERIK;G DK D<FIEGCCBDKFD HI B;DI G EGKEDTFG TCDWIHDED <GYCD HI UIFDCBI=

#*-'#$"†% #'+7')% :-&'#"+>= #"*&&' 3*+')' :fgji>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$psi

)DKFCG ;D D<FI FDK;DKEBI TRD;DK BKEHRBC<D WICBI;I< BK<FIHIEBGKD<S I FCIW_< ;D HI<ERIHD< HG< ICFB<FI< WIK I DcTCD<IC TCDGERTIEBGKD< <GEBGXTGHMFBEI< <BUBHICD< I HI< I;WDCXFB;I< DK HI ;_EI;I IKFDCBGCS UDbEHI;I< EGK HI <BDUTCD WBVDKFD [Yk<^RD;I ;D HI B;DKXFB;I;] ^RD DK ICFB<FI< EGUG DH ERYIKG eG<_ -D;BI OIH;_< <D UIKBND<FL I FCIW_< ;DHD<FR;BG ;D HG< CBFG< INCGERYIKG<S EGUG QI HG aIYMI aDEaG {BNCD;G +IU= +I< BK<FIHIXEBGKD< ;DH EaBHDKG 'HNCD;G eIIC FD<FBUGKBIC\K I FCIW_< ;D HI RFBHBbIEBLK ;D HI NGFGVCIXNMIS HI ;DKRKEBI EGKFCI HI ;D<BVRIH;I; DEGKLUBEI DKFCD HG< TIM<D< ;DH HHIUI;G 3CBUDC.RK;G Q HG< <RY;D<ICCGHHI;G<= *H YCI<BHDdG 0BH;G .DBCDHD<S RKI ;D HI< NBVRCI< <DdDCI<;DH 0GKEDTFRIHB<UG HIFBKGIUDCBEIKGS QI DK HI ;_EI;I ;D fgj@S TCG;REBC\ RKI GYCIFDK;BDKFD I ;DHIFIC HG< IYR<G< ;DH EITBFIHB<UG Q HI "VHD<BI ^RD D<FIYIK HHDWIK;G I HI;D<FCREEBLK ;D HI< EGURKB;I;D< BK;MVDKI< ;DH EGKFBKDKFD=

*K HG< kHFBUG< HR<FCG< DH ICFD ;D FBKFD EGUYIFBWG Q ;D CDBWBK;BEIEBLK <GEBIH <DUIKBND<FL ;D<;D WICBI< IFIHIQI<S TGKBDK;G DK DWB;DKEBI TCGYHDUI< D<FCREFRCIHD< ;DHG< TIM<D< ;DH EGKFBKDKFD EGUG I<BUB<UG EGQRKFRCI< TRKFRIHD< EGUG NRDCGK HI< ;BEFIX;RCI< UBHBFICD< DK D<TDEBIH ;RCIKFD HG< <DFDKFI Q GEaDKFI= +G< DZDUTHG< <GK FIK BKXEGKFIYHD< EGUG aICFG CDWDHI;GCD< ;D ^RD HI TCD<DKEBI ;D D<FI FDU\FBEI KG aI ;DECDEB;GDK HI GYCI ;D HG< ICFB<FI< IEFRIHD<= #BUYLHBEIUDKFDS Q TGC <R ;BNR<BLK UI<BWI I KBWDHBKFDCKIEBGKIHS TG;CMIUG< UDKEBGKIC HI< D<FCDUDED;GCI< <DCBD< NGFGVC\NBEI< CDIHBbI;I<TGC DH YCI<BHDdG #DYI<FB…G #IHVI;GS UREaI< ;D DHHI< TRYHBEI;I< DK HBYCG< ;D HI FCI<XEDK;DKEBI ;D %FCI< 'U_CBEI< :fgji> Q $CIYIZI;GCD< :fggp>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pss

#*+*00"J, )* ".47*,*#

',$,"% &%00% :-&'#"+>= +%# *."7&',$*# :0= fgfA>

)D<;D NBKIHD< ;DH <BVHG `"`S DK EBDCFG< TIM<D< IUDCBEIKG< EGUG -CI<BHS 'CVDKFBKI Q8CRVRIQS HI< EGCCBDKFD< BKUBVCIFGCBI< DRCGTDI< <BVKBNBEICGK RK EGUTGKDKFD IY<GHRFIXUDKFD ;DEB<BWG DK HI EGKNGCUIEBLK ;D HI< <GEBD;I;D< UG;DCKI<= *K HI TH\<FBEI NRDCGKUGFBWG ;D BK<TBCIEBLK TICI KRUDCG<G< ICFB<FI<S DK D<TDEBIH TICI I^RDHHG< ^RD FDKMIKRKI CDHIEBLK ;BCDEFI EGK DH NDKLUDKG= #D UG<FCICGK DK DH HBDKbG HI< ;G< EICI< ;DHUB<UG5 HI DUBVCIEBLK :WB<BLK ;D<;D *RCGTI> Q HI BKUBVCIEBLK :WB<BLK ;D<;D 'U_CBEI>=3GC HG VDKDCIH HG< TBKFGCD< CDERCCBDCGK TICI D<FI< GYCI< I HDKVRIZD< D<F_FBEG< TCGTGCX

EBGKI;G< TGC HI IEI;DUBIS DK D<TDEBIH HI FCI;BEBLK ;DH CDIHB<UG <GEBIH FIK DK YGVI DKHG< <IHGKD< NCIKED<D< ;DH kHFBUG ERICFG ;DH <BVHG `"`= )DKFCG ;D D<FG< HBKDIUBDKFG<TG;DUG< UDKEBGKIC I D<FI GYCI ;D 'KFŽKBG &GEEGS DUBVCIKFD BFIHBIKG CI;BEI;G DK#…G 3IRHG :-CI<BH> DK fgfpS ^RD URD<FCI I RK VCRTG ;D EGUTIFCBGFI<S TDCFCDEaI;G<EGK <R< D<EI<I< TDCFDKDKEBI<S ;BCBVB_K;G<D IH URDHHD TICI IYGC;IC RK YICEG EGK ;D<XFBKG I 'U_CBEI= *K <R< CG<FCG< <D CDNHDZI HI CD<BVKIEBLK ^RD <RTGKD ;IC D<D TI<GS DK DH^RD DH TD<BUB<UG D< U\< NRDCFD ^RD HI D<TDCIKbI ;D RK NRFRCG UDZGC= )DKFCG ;D HIUB<UI FDU\FBEI TG;DUG< UDKEBGKICS FIUYB_K DK -CI<BHS HI GYCI *UBVCIKFD< :fgpgXfghf> ;D +I<IC #DVIHHS ;D GCBVDK HBFRIKGS HI ^RD URD<FCI RK YICEG DK DH ^RD <D aIEBKIRK VCRTG ;D EGUTIFCBGFI< aRQDK;G ;D HI VRDCCI DRCGTDI=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$psj

')%+2% -*++%0q :'&7*,$",'>= `"+%7&'26' )* +' #*&"* !"#$%&"')* '&&'-'+ :fg??>=

';GHNG -DHHGE^ CDIHBbL IHCD;D;GC ;D s@ cBHGVCINMI< TICI BHR<FCIC DH HBYCG ;D .IKRDH7\HWDb FBFRHI;G !B<FGCBI ;D 'CCIYIH :fg??>= 0GUG INBCUI +B;BI "<IYDH .GCGbBRn5 [*HEGKZRKFG ;D HI GYCI UDKEBGKI;I :D< ;DEBC HG HBFDCICBG Q HG TH\<FBEG>S TICFBEBTI ;D HIFCI;BEBLK <BUYLHBEI ^RD aI FDUIFBbI;G EGUG ;DKRKEBI HI DcTHGFIEBLK NDUDKBKIS DKFIKFG TICFD ;D HI ERD<FBLK <GEBIH===„ !B<FGCBI ;D 'CCIYIH D< HI aB<FGCBI ;D &G<IHBK;I0GCCIHD<S RKI IFCIEFBWI TCGHDFICBI EGKWDCFB;I HRDVG DK TCG<FBFRFI= 'HHM DH UDK<IZD FCI<XEBDK;D DH EI<G BK;BWB;RIH Q TDC<BVRD HI EGKEBDKFBbIEBLK= *K DNDEFGS IRFGC D BHR<FCI;GCEGBKEB;DK DK <DdIHIC ^RD TGC DKEBUI ;D HI< EGK;BEBGKD< ;DTHGCIYHD< DK HI WB;I ;D RKIURZDC ;D HG< IdG< m?@S DcB<FD GFCI WB;I EGK WIHGCD< ;DNBKB;G<5 DH IUGC TGC DH EGUTIdDXCGS HI IUB<FI; Q HI <GHB;ICB;I;= +I EGKFCI;BEEBLK DcB<FDKFD DKFCD D<I< ;G< <BFRIEBGKD<S

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# psg

HI ^RD <D D<F\ WBWBDK;G Q HI ^RD <D IKaDHIS GCVIKBbI RK <B<FDUI ;D CDHIEBGKD< aRUIKI<;GK;D EI;I ERIH FBDKD <R HRVIC5 ;D<;D DH UDCG D<TDEFI;GCS TI<IK;G TGC DH DcTHGFI;GCQ ELUTHBED aI<FI DH ^RDS D<EHICDEB;G EGK B;DIHD< <GEBIHD< CDWGHREBGKICBG<S ITRD<FI IFGCEDC DH CRUYG IH TCDWB<BYHD ;D<FBKG ;D HG< GTCBUB;G<]=

:*K5 -*,'O")*9 -*)%1'S 'HNCD;G :EGGC;=>= *H VCIYI;G <GEBIH Q TGHMFBEG DK HI 'CVDKFBKI ;DH <BVHG `` = -RDKG< 'BCD<S .R<DG ;D 'CFD .G;DCKGS fgg?>=

&"0'&)% 0'&3'," :'&7*,$",'>= )*#%083')%# :fgAg>

#IYB;G D< ̂ RD HI GYCI ;D HG< URCIHB<FI< UDcBEIKG< FRWG <R _TGEI ;D UIQGC D<THDK;GCDK HG ̂ RD I HI CDBWBK;BEIEBLK <GEBIH CD<TDEFIS DK HI< ;_EI;I< ;D fg?@ Q fgp@= *K D<FD kHFBUG;DEDKBG WBWBL RK CDEGKGEBUBDKFG BKFDCKIEBGKIH EGK DH DKEICVGS I HG< ICFB<FI< UDcBEIKG< QTGC TICFD ;D WICBI< BK<FBFREBGKD< ;D *<FI;G< 8KB;G<S ;D KRUDCG<I< GYCI< ;D<FBKI;I< I HIDcaBYBEBLK TkYHBEI= +I BCCI;BIEBLK ;D HI< TCDUB<I< D<F_FBEI< D B;DGHLVBEI< ;DH URCIHB<UG IHCD<FG ;DH EGKFBKDKFD IUDCBEIKG KG <D aICMI D<TDCICS DKEGKFC\K;GKG< ;BWDC<G< CDNHDZG<EGUG IHVRKI< GYCI< ;D 0\K;B;G 3GCFBKICB DK -CI<BHS .BVRDH 'HIK;BI 3IKFGZI DK -GHBWBI G)DUDFCBG 8CCREakI DK 'CVDKFBKIS TGC EBFIC FCD< EI<G< IB<HI;G<= *K D<FD kHFBUG TIM<S QEGKFBKRIK;G EGK RKI D<F_FBEI <GEBIH QI EGKWDCFB;I DK FCI;BEBLKS TG;DUG< UDKEBGKIC HIGYCI ;D &BEIC;G 0ICTIKBS ^RD ;D<;D NBKIHD< ;D HI ;_EI;I ;D fgA@ EGUBDKbI I CDTCD<DKFICDK <R< GYCI< HI< EIHIUB;I;D< ;D HI WB;I ;DH GYCDCGS I<RUBDK;G RKI EHICI TG<BEBLK ;D[ICFB<FI UBHBFIKFD]= .RCIHB<FI Q TBKFGC ;D EIYIHHDFDS <R< GYCI< ;D I^RDHHI _TGEI ;D<FIEIKTGC <R EGUTG<BEBLK D<^RDUIFBbI;Il [TICDEDK CDEGCFI;I< DK TBD;CI] IH ;DEBC ;DH ECMFBEG&INIDH #^RBCCR= +I NRDCbI ;DH ;BYRZG DK HI GYCI ;D 0ICTIKB IEDCEI <R< DcTCD<BGKD TGFDKEBI DH ;CIUIFB<UG ;D <R< TCG;REEBGKD<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pj@

'+2&*)% e''& :0!"+*>= #",:*,.'&0'&> :fgjsXfggf>

eGaK 'HIK 2ICUDCS aIEBDK;G RK CDTI<G I HI FCIQDEFGCBI ;DH EaBHDKG 'HNCD;G eIICSIKIHBbI5 [===!I TCG;REB;G GYCI< RFBHBbIK;G ;BNDCDKFD< F_EKBEI<S TDCG D< EGKGEB;G <GYCDFG;G TGC <R< BK<FIHIEBGKD< I YI<D ;D EIZI< NGFGVC\NBEI< ^RD ;IK TCBGCB;I; I HI HRbUD;BIKFD RK ZRDVG ;D D<TDZG<= #R NGCUIEBLK IC^RBFDEFLKBEI <D CDNHDZI DK DH aDEaG ;D^RD ;BEaI< BK<FIHIEBGKD< <RTGKDK RK UGKFIZD BK;R<FCBIH DK RK kKBEG <BFBG= ' <R WDbS DHDUTHDG DK DHHI< ;D BU\VDKD< BHRUBKI;I< ;B<TRD<FI< ;D RKI UIKDCI ^RD CDERDC;I DHUGKFIZD EBKDUIFGVC\NBEGS ;I ND ;D <R< D<FR;BG< ;D EBKD= ' KBWDH WB<RIHS D<FI< GYCI<DWGEIK HG< GYZDFG< UBKBUIHB<FI< ECDI;G< TGC ICFB<FI< EGUG &GYDCF .GCCB< Q )GKIH;eR;;= #BK DUYICVGS DH EGKFDKB;G ;D HI< BU\VDKD< NGFGVC\NBEI< Q HI ;B<TG<BEBLK D<FCIF_XVBEI ;D HI< EIZI< ;D HRb <GYCD HI< ^RD I^R_HHI< <D TCGQDEFIK TDCUBFDK IH ICFB<FI THIKXFDIC ERD<FBGKD< <GEBIHD< Q TGHMFBEI< ^RD I UDKR;G NIHFIK DK HI< ECMFBEI< UBKBUIHB<FI< ;DHI BK<FBFREBLK ;DH ICFD= "KWD<FBVIK;G HI< BKZR<FBEBI< GEI<BGKI;I< TGC HI NIYCBEIEBLK ;DRKI GTG<BEBLK DKFCD HG< HHIUI;G< 3CBUDC Q $DCEDC .RK;G<S aI IYGCI;G FDUI< EGUGHG< ITRCG< ;D HG< UBKDCG< ;D GCG ;D HI CDVBLK YCI<BHDdI HHIUI;I #BDCCI 3DHI;IS HIDUBVCIEBLK BHDVIH ;D HIFBKGIUDCBEIKG= 'CFB<FI< HIFBKGIUDCBEIKG< ;DH <BVHG `` = .IX;CB;S $IYITCD<<S fgg?S T= pA?>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pjf

'3/,)"0* )%08.*,$'+

"= 8,' /3%0' )*0')*,$* *, +' 3",$8&' O*,*9%+','f

"K;R;IYHDUDKFDS EGK 0CB<FLYIH &GZI< <D WI I ERUTHBC HI U\< TCGNRK;I FCIK<NGCUIXEBLK ;D HI TBKFRCI WDKDbGHIKI ;DH <BVHG `"`= :x>

' <R HHDVI;I I *RCGTIS &GZI< ;IC\ TGC HG TCGKFG HI D<TIH;I I <R TI<I;G EICI^RDdGSBKBEBIK;G <R WBCIZD EGKEDTFRIH aIEBI HG CDTCD<DKFIFBWG= 3GC^RD EGCCDHIFBWIUDKFD I <R EGKXFIEFG EGK HI CDIHB;I; <GEBIH ;D 2CIKEBI Q EGK HI RFGTMI <GEBIHBbIKFD ;DH KIFRCIHB<UG HBFDCICBGS&GZI< IWDKFRCL DH <IECBNBEBG ;D RKI TBKFRCI QI EGKWDKEBGKIH DK ODKDbRDHIS HI TBKFRCIKICCIFBWIS DK ICI< ;D RK CDIHB<UG YBDK TGEG HDVMFBUG TGC EBDCFGS TDCG KG UDKG< EGKWDKEBGXKIH ;DKFCG ;DH TCGED<G ;D FCIK<NGCUIEBLK ^RD <D GTDCIYI DK HI TH\<FBEI ;D <R FBDUTG= 1D<FGS TGC^RD KRD<FCG ICFB<FIS I FIK FDUTCIKI aGCI ;D <R WB;IS KG D<FIYI DK EGK;BEBGKD< ;DFCI;REBC DK NGCUI< FCI<EDK;DKFD<S HG WBFIH ;DH ;CIUI ;D <R _TGEI= qRBb\ HI CIbLK ;D DHHG NRD^RD I NBK ;D ERDKFI<S ^RD &GZI< FCI;RZG EGK <MUYGHG< ;D RK ;D<WBFIHBbI;G WDCB<UG D<FBHG<BVHG `"`S KG NRD U\< ^RD <R TCGTBI TCGED;DKEBI D<TBCBFRIH WDKDbGHIKIS RK TGEG ;D D<DEHBUI ITD<I;RUYCI;G Q ;DCCGFB<FI ^RD DK HI ODKDbRDHI ;D NBKD< ;D <BVHG DKEGKFCICMI DK3_CDb -GKIH;D Q <R< EGKFBKRI;GCD<S <R< D^RBWIHDKEBI< HMCBEI<= 3GC^RD HI TBKFRCI <GEBIHUDKXFD CDWGHREBGKICBI vIRK^RD ;DEBCHGS FG;IWMI I D<FI< IHFRCI<S EGK<FBFRQD TICI UREaG< FDGCBXbIKFD< IHVG UDKG< ^RD RKI aDCDZMIv HI D<FIYIK CDIHBbIK;G HG< <RED<GCD< ;D .IKDF5$GRHGR<DX+IRFCDES OIK 7GVaS 7IRVRBKS 0_bIKKD= .\< EGUYIFBWI ̂ RD HI ;DH TCGTBG 0GRCXYDFS TGC^RD BK;DTDK;BDKFDUDKFD ;D <R IVCD<BWB;I; NGCUIHS ITICDEMI <GEBIHUDKFD BK<RHFIKXFD= .\< E\R<FBEI Q UGC;Ib ̂ RD )IRUBDC= #B <D ̂ RBDCDS HI TBKFRCI UDKG< EGKEBHBI;GCI ;D FG;IHI !B<FGCBI ;DH 'CFD=

3GC IaGCI &GZI< aI DKEGKFCI;G RKI KRDWI CRFI <BK TDCEIFIC<D ;D <R< TDHBVCG<=)DYDUG< CDEGKGEDCS DUTDCGS ^RD <R <DK<BYBHB;I; D<FIYI DKEIUBKI;I DK FIH NGCUI DK;BCDEEBLK I HG aRUIKG ^RD DH KIFRCIHB<UGS <DVkK HG ^RD <BVKBNBEL TICI _HS KG TG;MIUDKG< ^RD IUDKIbICHD VCIWDUDKFD= "UTGCFI ;D<FIEICS <BK DUYICVGS DH aDEaG ;D ^RD&GZI<S HBYCI;G ;DH HI<FCD aB<FGCBEB<FI Q IEI;_UBEG ^RD EGKGEBDCI EGUG kKBEG EIUBKGDKFCD KG<GFCG<S FRWG GEI<BLK ;D RYBEIC<D DK RK TRKFG ;D<;D DH ERIH TCD<EBK;BC ;DFG;I< HI< FCI;BEBGKD< ^RD HD IFICGK Q IWIKbIC TGC RKI CRFI ^RD ;D ERUTHBC<DS HGaRYBDCIK EGHGEI;G I HI TIC ;D HG< U\< BUTGCFIKFD< ICFB<FI< ;D <R FBDUTG= 3DCG D<FGEGK<FBFRQD ERD<FBLK ;BNDCDKFD I HG ^RD WDKBUG< FCIFIK;G=

*< KDED<ICBG TRKFRIHBbIC IaGCI ̂ RD DK UGUDKFG< DK ̂ RD DH TICKI<BIKB<UGS HG aB<FLCBEGQ HG CDHBVBG<G ;GUBKIYIK KRD<FCG ^RDaIEDC TH\<FBEGS &GZI< EGUDKbIYI TGC BUTGKDC RKEGKEDTFG CI;BEIHUDKFD ;B<FBKFG I ERIKFG <D aIYMI aDEaG aI<FI IHHM5 HI TBKFRCI ;D FD<B< <GEBIH^RD DKEGKFCIC\ ;D BKUD;BIFG <R< EGKFBKRI;GCD< WDCK\ERHG<l 'CFRCG .BEaDHDKIS TGC DZDUXTHGS HRDVG ;D [*H KBdG DKNDCUG]S [+I EICB;I;] Q [*H VCIKBbG]S ^RD DcTGKDK DK NGCUI<RED<BWI <R I<BUBHIEBLK I HI THIFINGCUI FDLCBEI ;D <R EGFDCC\KDGS HHDVI aI<FI HI RFBHBbIEBLK;D HI KRDWI UG;IHB;I; DK IHVRKG< ;D <R< ERI;CG< ;D aB<FGCBIS DK [0ICHGFI 0GC;IQ EIUBKG

f= )' ',$%,"%S 2CIKEB<EG= $DcFG< <GYCD ICFD= ODKDbRDHI fij?Xfgj?= 0ICIEI<S .GKFD 4WBHI*;BFGCD<S 0='=S fgj@S 3\V<= ffhXffj=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pjp

HB<UG EGUG IHFDCKIFBWI IH URK;G EITBFIHB<FIS DK fgpp HB;DCI I RK VCRTG ;D ICFB<FI<CG<ICBKG< ^RD I;GTFI HI ;DKGUBKIEBLK ;D 3H\<FBEG< ;D OIKVRIC;BI= *K fgph DKEIYDXbI HI EGK<FBFREBLK ;D HI .RFRIHB;I;l <R TCBKEBTIH TCGQDEFG D< RKI D<ERDHI FIHHDC='EGUTIdIK I -DCKB DK D<FI BKBEBIFBWI HG< TBKFGCD< +DLKB;I< 7IUYICFD<S eRIK 7CDHIS'K<DHUG 3BEEGHBS .D;IC;G 3IKFGZI Q IHVRKG< U\<l DKFCD HG< D<ECBFGCD< D<F\ &GVDC 3H\=

*K D<FD EGKFDcFGS KG ;DZI ;D FDKDC <BVKBNBEIEBLK HI TCD<DKEBI ;D )IWB; '= #B^RDBCG<DK &G<ICBGS ^RBDK ;B<DCFL DK HI .RFRIHB;I; <GYCD DH CDIHB<UGS DH ICFD IUDCBEIKG IYGCBXVDKS HI CDWGHREBLKS HI UBHBFIKEBI Q DH ICFD EGUTCGUDFB;G=

*H ICFB<FI UDcBEIKG aIYMI WBIZI;G I -RDKG< 'BCD< BKWBFI;G TGC 'UBVG< ;DH 'CFDTICI ;BEFIC ;G< EGKNDCDKEBI<5 *K D<I< EBCERK<FIKEBI<S ,IFIHBG -GFIKIS TCGTBDFICBG ;DH;BICBG 0CMFBEI S HD GNCDEBL CDIHBbIC RK URCIH ;D ;G<EBDKFG< UDFCG< ERI;CI;G< DK DH <LFIXKG ;D <R CD<B;DKEBI ;D )GK $GCERIFG= -DCKBS #TBHBUYDCVGS 0I<FIVKBKG Q +\bICG NRDXCGK DHDVB;G< TICI EGHIYGCIC DK DH FCIYIZG=

#B^RDBCG< HHDVIYI EGK B;DI< UI;RCI< <GYCD HG< VCIK;D< URCIHD<S <R DZDEREBLK EGXHDEFBWI Q DH DUTHDG ;D UD;BG< KG FCI;BEBGKIHD<S VDKDCIHUDKFD ;D GCBVDK BK;R<FCBIH=*<FG< CDERC<G< IkK KG aIYMIK <B;G THIKFDI;G< DKFCD HG< ICFB<FI< ICVDKFBKG< ;D Bb^RBDCX;I ;D HI VDKDCIEBLK IKFDCBGC I -DCKBS EGUG HG< 'CFB<FI< ;DH 3RDYHG= :x>

+I GCBDKFIEBLK ;D -DCKB aIEBI DH CDIHB<UG ECMFBEG <D BK<ECBYD DK D<D EHBUI ;DTGHBFBbIEBLK ECDEBDKFD ;D HI ERHFRCI BKFDCKIEBGKIH= 1I DK -RDKG< 'BCD<S D<D BKFDC_<UI;RCI DK <R EGKFIEFG EGK #B^RDBCG< Q EGK DH ;BICBG 0CMFBEI S ^RD EGKFIYI EGK TDCBGX;B<FI< D<FCDHHI< EGUG &GYDCFG 'CHF Q HG< aDCUIKG< 7GKb\HDb $RdLK= *H TBKFGCS DK D<I<EBCERK<FIKEBI<S CDEaIbI DH NGCUIHB<UGS DH <RCCDIHB<UG Q ERIH^RBDC GCBDKFIEBLK [KDRFCIH]S[GYZDFBWI] G <BUTHDUDKFD [ITGHMFBEI]= qRBDCD aIEDC RK ICFD ^RD <BCWI TICI BKNGCUIC QNGCUIC= 3GC DHHG YR<EI HI UIKDCI ;D DcTCD<IC <R EGKEDTEBLK ;DH URK;G ;D HI UIKDCIU\< EHICI TG<BYHD= [3ICI UM v;DEMI DH TBKFGCv DH CDIHB<UG DCI RKI <RDCFD ;D ;DKRKEBITDCG ^RD BUTHBEIYI HBYDCFI; DcTCD<BWI IUTHBI DK ERIKFG I HG< UD;BG< EGK ^RD <DUIKBND<FIYI= ,G aIEMI aBKEITB_ <GYCD DH FBTG ;D BUIVDK ^RD ;DYMI DUTHDIC G DH D<FBHG=#RED;D ^RD DK RK TIM< EGUG DH KRD<FCGS DH ;D<ICCGHHG ;D HI TBKFRCI KG TRD;D D<FIC;D<HBVI;G ;DH ;D<ICCGHHG VDKDCIH ;D HI <GEBD;I;= #BK RK ;D<ICCGHHG BKFDVCIH KG aIQTBKFRCI ;D<ICCGHHI;I=

3GC GFCI TICFDS NRD UIKBNBD<FI vQ TGH_UBEIv HI ;BNDCDKEBI ;D -DCKB EGK #B^RDBCG<S^RBDK DK <R WBIZD I HI 'CVDKFBKI CDBFDCLS DK <R< EGKNDCDKEBI< Q ;DEHICIEBGKD<S ^RD DHURCIHB<UG DCI HI kKBEI TG<BYBHB;I; TICI RK ICFD CDWGHREBGKICBG DK HI <GEBD;I; YRCVRDX<I= [3DCG _H WDKMI ;D ._cBEG vCD<TGK;BL -DCKBvS ;GK;D <D aIYMI TCG;REB;G RKICDWGHREBLK ^RD FCBRKNL Q IHEIKbL DH TG;DCS Q <D aIYMIK ;I;G HI< EGK;BEBGKD< NIWGCIXYHD< TICI DH ;D<ICCGHHG ;D RKI TBKFRCI UGKRUDKFIHS URCIHS IR<TBEBI;I Q NBKIKEBI;I TGCDH *<FI;G= 3GC DH EGKFCICBGS DK HI 'CVDKFBKI EGK<DCWI;GCI ^RD <BVRBL IH VGHTD ;D*<FI;G ;D <DFBDUYCD ;D Hgp@S HI <BFRIEBLK DCI ;BNDCDKFD= ,G aIYMI KB EGUBFDKFD<S KBURCG< TICI TBKFICS KB ITGQG ;DH *<FI;G= 3GC DHHGS DH TBKFGC CG<ICBKG INBCUIYI ^RD HITBKFRCI <GEBIH TG;MI DcTCD<IC<D TGC GFCG< UD;BG<S EGUG DK HI< VCIK;D< EGUTG<BEBGKD<<GYCD FDHI=

-DCKB IYIK;GKI HG< BU\VDKD< [DcFCIGC;BKICBI<] ;D <R DFITI <RCCDIHB<FI TICI TI<ICI TCBWBHDVBIC DK <R< FDHI< HG EGFB;BIKG= #D BKEHBKI aIEBI RKI TBKFRCI EGUTCGUDFB;I EGKHI ;DKRKEBI ;D HI BKZR<FBEBI <GEBIHS EGK HI ;DNDK<I ;D HG< aRUBH;D< Q ;D HG< UICVBKI;G<=*K VDKDCIHS <BVRD HG< HBKDIUBDKFG< ;DH CDIHB<UG DcTRD<FG< TGC 'CIVLK5 [*H CDIHB<UG

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pjh

<GEBIHB<FI <LHG DKEGKFCIC\ <R WIHGC RKBWDC<IH DK EI;I TIM< <B aRK;D <R< CIMED< DK HI<CDIHB;I;D< EGKECDFI<S KIEBGKIHD<S ;D HI FBDCCI ^RD DUIKI]=

"""= *+ $'++*& )* 7&42"0' 3%38+'& *, ./`"0%p

'H F_CUBKG ;D HI &DWGHREBLK ;D fgf@S URCIHB<FI< Q VCIYI;GCD< <D TCGTR<BDCGKNIEBHBFIC I GYCDCG< Q EIUTD<BKG< DH IEED<G IH ICFD= 3ICI HGVCICHG <D ;BDCGK I HI FICDI ;DD<FIYHDEDC GCVIKBbIEBGKD<S <DUDZIKFD< I <BK;BEIFG< GYCDCG< TRD<S IH BVRIH ^RD _<FG<STCDFDK;MIK TCG;REBC GYCI< EGHDEFBWI<S IZDKI Q HI +BVI ;D *<ECBFGCD< Q 'CFB<FI< &DWGHREBGKICBG< :+*'&SfgppXfgpj> DZDCEBDCGKRK TITDH CDHDWIKFD DK DH ;D<ICCGHHG ;DH ICFD DK ._cBEG= ,G <D FCIFIYI ;D VCRTG<CD;REB;G< KB ;D EMCERHG< ;D ;B<ER<BLK TCBWI;IS <BKG ;D GCVIKBbIEBGKD< TkYHBEI< EGKGYZDFBWG< TGHMFBEG< DcTHMEBFG<= #BK D<I< GCVIKBbIEBGKD<S DH ICFD UDcBEIKG ;DH <BVHG ``KG aRYBDCI IHEIKbI;G HI BUTGCFIKEBI ^RD GYFRWGl <BK D<I< EGURKB;I;D< ;D URCIHB<FI<Q VCIYI;GCD<S HI ECMFBEI D<TDEBIHBbI;I URQ TCGYIYHDUDKFD aIYCMI EHI<BNBEI;G I HG< ICFB<XFI< DK CDHIEBLK EGK HI< D<ERDHI< DRCGTDI<= :x>

3GC GFCI TICFDS EIYD <RYCIQIC ^RD DH ICFD VC\NBEG <RTDCI I HI IFCIEFBWI TBKFRCI URCIHDK RK I<TDEFG5 DCI Q D< BK;DTDK;BDKFD ;DH ITGQG ;DH <DEFGC TkYHBEG= *< TGC D<G ^RDCDYI<L HI EITIEB;I; ;DH URCIHB<UG TICI DcTCD<IC ;D UIKDCI U\< ;BCDEFI HG< IEGKFDEBXUBDKFG< ;DH UGUDKFG= *K EGK<DERDKEBIS HI VC\NBEI NRD UDKG< <GYGCKIYHD Q <D UIKFRXWG WBWI ;RCIKFD U\< FBDUTG ^RD HI< GYCI< ;D HG< VCIK;D< URCIHB<FI<S ERQG< BUTRH<G<<D ITIVICGK C\TB;IUDKFD= )D HI UB<UI UIKDCIS HI WB;I ;DH $73 NRD U\< TCGHGKVI;IlBKEHR<G IkK DcB<FD=

'HEIKbIC ;BNR<BLK TGTRHIC NRD DH GYZDFBWG TCBKEBTIH ;D HG< UBDUYCG< ;DH $73= #DTCGTR<BDCGK DWBFIC ^RD <R< FCIYIZG< ;D<ITICDEBDCIK DK FG< ICUICBG< ;D GYCI VC\NBEI ;DEGHDEEBGKB<FI< Q TICI HGVCICHG aBEBDCGK DHDWI;G< FBCIZD< ;D VCIYI;G< DK HBKLHDG <GYCDTITDH ;D EaBKI= '<M <D D<TDCIYI ^RD HI GYCI HHDVICI IH aGUYCD EGUkK Q HG BK<FICI IRKBC<D I HI CD<B<FDKEBI EGKFCI HI BKZR<FBEBI Q HI ICYBFCICBD;I; ^RD HI EHI<D ;GUBKIKFDDZDCEMI <GYCD GYCDCG< Q EIUTD<BKG<= 0IYD ;D<FIEIC ^RD ;BEaG< IYR<G< ITDKI< ;B<UBXKRQDCGK ;D<TR_< ;D HI CDWGHREBLK YRCVRD<I ;D fgfs=

+G< FBCIZD< ;D HG< VCIYI;G< IHEIKbICGK EBNCI< aI<FI ;D p=@@@ EGTBI<S aDEaG ^RDTICDEMI VICIKFBbIC RKI IUTHBI ;B<FCBYREBLK= ,G GY<FIKFDS I HI< EGTBI< ;D HG< UGH;D<^RD <LHG DK EI<G< IB<HI;G< NRDCGK NBCUI;G<S aIQ ^RD IdI;BC HI< UBHD< ;D CDTCG;REEBGXKD< DK TDCBL;BEG<S CDWB<FI< Q HBYCG<= 'kK aGQS HG< VCIYI;G< TCG;REB;G< TGC DH $73EGKFBKkIK TCD<DKFD< DK UREaI< TRYHBEIEBGKD< UDcBEIKI<= +I [URHFBCCDTCG;REBYBHBX;I;]S DcBVB;I NRK;IUDKFIHUDKFD DK HI FDGCMI ;DH VCIK URCIHB<FI )IWB; 'HNICG #D^RDBXCG<S NRD TRD<FI DK TC\EFBEI TGC DH $73=

p= 3&"7,"$9S !DHVI= *H FIHHDC ;D VC\NBEI TGTRHIC DK ._cBEG fgpsXfgss= ._cBEGS "K<FBFRFG,IEBGKIH ;D -DHHI< 'CFD<S fgg?S 3\V<= ffXf?=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pjA

"O= 0'&$' #%+*.,* ' ." ."#.% S 3%& +8"# 2*+"3* ,%/h

*<FBUI;G <DdGC ,G_58KI WDb U\< UD TB;D ^RD aIYHD IEDCEI ;D R<FD;= 2CIKEIUDKFD KG <_ ^RD aIEDC= !D

TI<I;G UB WB;I aIYHIK;G ;D R<FD;= "KEHR<BWD aD D<ECBFG RK HBYCGS 'KFBD<F_FBEIS TICITCGTGCEBGKICHD RK NRK;IUDKFG TICI <R Yk<^RD;I= ,G FDKVG KI;I U\< ^RD ;DEBC= +G^RD NRD ;BEaGS NRD ;BEaGS IRK^RDS KIFRCIHUDKFDS KG NRD ;BEaG DK BKVH_<= 3DCG HIWDC;I; D< ^RD RKI WDb ^RD DH TCGED<G ;D UB< B;DI<S ^RD aI ;BCBVB;G <R FCIYIZG Q HG aITRD<FG DK DH EIUBKG TGC DH ^RD aGQ FCIK<BFIS <D <BKFDFBbI DK RKI <GHI TIHIYCI TG<BYHDTICI <BUYGHBbICHG EGUTHDFIUDKFD5 [EIG<]S D<I WBDZI UIHI TIHIYCI TICI DH ICFDS ^RDS <BKDUYICVGS D< HI kKBEI kFBH TICI KGUYCIC DH URK;G IEFRIH=

,G<GFCG<S HG< aGUYCD< ;D aGQS D<FIUG< ECDIK;G RK KRDWG GC;DK ;D EG<I< Q <DdIXHIK;G DH EIUBKG aIEBI RKI KRDWI Q GCV\KBEI tDHFIK<EaIRKV= 3DCG D<FD KRDWG GC;DKKG FBDKD KI;I ^RD WDC EGK KBKVRKG TCDWBG= *< IKFD FG;G TICI DKFDK;DC DH EIG< ^RDD<FIUG< WBWBDK;GS TGC^RD HG ^RD HHIUIUG< EIG< KG D< U\< ^RD I^RDHHG TICI HG ERIHKG< NIHFIK TIRFI< TICI TG;DC DKFDK;DCHG= 1 EGUG DH ICFB<FI D< RK BK;BWB;RG ^RD FCIFITGC FG;G< HG< UD;BG< ;D I<BC I^RDHHG ^RD <D HD D<EITIS KRD<FCG EIG< D< DH kKBEGGYZDFBWG EBDCFG IH ERIH ;DYDUG< ;BCBVBC KRD<FCI< TCDGERTIEBGKD<= 3BDK<G ^RD D<F\ YBDK^RD R<FD; FCIFD ;D CDWDHIC HI BUIVDK ;DH EIG<= *< <R ;DYDC DK FIKFG ICFB<FIS TDCG D<F\;D<FBKI;G IH NCIEI<GS TGC^RD ITDKI< HGVCD <R EGUDFB;G D<FIC\ R<FD; CDWDHIK;G RKKRDWG GC;DKS Q IH UB<UG FBDUTG aIYC\ GFCI< EG<I< ^RD <D HD D<EITIC\K Q ^RD D<FIC\KEGK<FBFRQDK;G RK KRDWG EIG<= *< I<M ^RD QG EGUDKE_ I aIYHIC ;DH EIG< DK <R GYCISEGUG GFCG< QI HG D<FIYIK aIEBDK;GS TDCG ITDKI< UD EGUTCGUDFM I DHHG DH EIG< DCI IkKUIQGC= *KFGKED< UD TCDVRKF_ IEDCEI ;D ^R_ EIG< QG D<FIYI aIYHIK;GS TGC^RD _<FDKG <D WDMI DK <R FCIYIZG= +I EGKEBDKEBI ;D HG ^RD FBDKD ^RD aIEDC<D <BDUTCD <DI;DHIKFI I HG ^RD <D D<F\ aIEBDK;G=

1G <_ ^RD R<FD; D<F\ FCIFIK;G ;D<D<TDCI;IUDKFD ;D I<BC D<FD EIG< Q ^RD FG;G HG^RD DK KGUYCD ;DH GC;DK Q ;D HI RKB;I; EGK<FBFRQD HG ^RD D< [EGCCDEFG] DK ICFDS QI<DI TICI DH WBDZG IEI;DUBEB<UG G TICI ERIH^RBDC GFCG TRCB<UGS HD TICDED BKEGKVCRDKFDEGK HI WB;I EGFB;BIKI=

$G;G HG ^RD TCD<RTGKD RKI UD;B;I ;D GC;DK D< BKEGKVCRDKFD EGK KRD<FCI CDIHBX;I; DK <R FGFIHB;I;= ' EIR<I ;D D<FGS KRD<FCI <GEBD;I; D<F\ EGK<FIKFDUDKFD D<EITIKX;G I HI TG<BYBHB;I; ;D <DC <BUYGHBbI;IS <GYCD FG;G <B DKFDK;DUG< EGUG [<MUYGHG] IHVG^RD D< D<^RDU\FBEG=

'^RM DK HG< *<FI;G< 8KB;G<S EGUG <D UIKBNBD<FI DK DH 3GT 'CFS HI KDED<B;I; ;DINBCUIEBLK ;D HG< <MUYGHG< VCDVICBG< D< URQ DWB;DKFD= *< RKI <GEBD;I; ^RD <D INBCUII <M UB<UI= 3DCG DK KRD<FCG TIM<S EGUG DK FG;I +IFBKGIU_CBEIS D<FIUG< FG;IWMI DK DHTI<G IKFDCBGC I aIYDCKG< NGCURHI;G KRD<FCI TCGTBI NGCUI ;D WB;IS D^RBWIHDKFD I HI'UDCBEIK tIQ GN HBNDS Q I<M KG< ^RD;IUG< EGK I^RDHHG ^RD TCGED;D I FG;G GC;DK5 DHEIG<= *< TGC D<G ^RD ;DYDUG< I<RUBCHG=

€3DCGS R<FD; ^R_ D<F\ aIEBDK;G~

h= ,%/S +RB< 2DHBTD= [0ICFI <GHDUKD I UM UB<UG]= *K5 0GKFBKDKFD <RH #RCS 3GCFG 'HDVCDS ,ƒiS KGWBDUYCD ;D fggsS 3\V<= ?AAX?Aj=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pji

'H TCBKEBTBGS DK fgi@S DH EIG< DCI TICI R<FD; HI IFUL<NDCI VDKDCIH CGU\KFBEI ;D RKITBKFRCI KDGNBVRCIFBWIS ;GK;D FG;G <D NRK;MI= 1G HD ;BZD DKFGKED< ^RD TBKFIC RKITICDZI KG D< TBKFIC I HG< BK;BWB;RG< ^RD HI NGCUIK <BKG HI NR<BLK ;D IUYG<= *<G NRD I<M aI<FI ^RD UD ;B ERDKFIS TCDEB<IUDKFDS ^RD D<D EHBUI IFUG<N_CBEG VDKDCIH DK RKI GYCI;D ICFD aGQ DK ;MI D< RKI NIH<D;I;S TRD<FG ^RD DH DHDUDKFG D<DKEBIH ;D HI <GEBD;I;EGKFDUTGC\KDI D< HI FDK<BLK Q HI GTG<BEBLK DKFCD EG<UGWB<BGKD< ;BWDCVDKFD<S HI EGKXWBWDKEBI ;D IFUL<NDCI< GTRD<FI<=

)D<TR_< R<FD; FCIFL ;D GTGKDC <R TCGTBI IFUL<NDCI <RYZDFBWI I HG GYZDFBWG ;D HIWB;I EGFB;BIKI= 2RD DKFGKED< ERIK;G HD ;BZD ^RD TBKFIC ;G< IUIKFD< DK RKI EIUI KGD< TBKFIC ;G< IUIKFD< Q HI EIUI <BKG TBKFIC ;G< IUIKFD< DK RKI EIUI= .\< FIC;DS DKfgi?S <D DUTDdL DK TCGTGKDC HI TBKFRCI ;BWB;B;IS CGUTBDK;G DH EGKEDTFG ;D RKB;I;Q EGK RKI URHFBTHBEB;I; ;D IFUL<NDCI<l TDCG EGK NCDERDKEBI D<FG ^RD;IYI ;B<RDHFG DKHI FDU\FBEI DcTCD<BGKB<FI= 2RD DKFGKED< ^RD ;BZDS [+RB< 2DHBTD ,G_ D< RK TBKFGC HBFDCIXCBG ERQI kKBEI WBCFR; D< ITCGWDEaIC <R TCGTBI FGCTDbI]= 3DCG INGCFRKI;IUDKFDS DKfgihS R<FD; DUTDbL I BKFDCTCDFIC DH TCGYHDUI EGUG RKI URHFBTHBEB;I; ;D BU\VDKD< DKUIQGC D<EIHIS Q EGUG RKI IERURHIEBLK BK;B<ECBUBKI;I= 2RD DKFGKED< ^RD HD ;B DHKGUYCD ;D [WB<BLK ^RDYCI;I]= "KUD;BIFIUDKFDS Q <BVRBDK;G UB EGK<DZG R<FD; DKNCDKXFL DH TCGYHDUI EGUG <B <D FCIFICI ;D CD<GHWDC RKI D<FCREFRCI D<TIEBIHS QI ^RD HI GTGX<BEBLK ;D THIKG< DK RKI TBKFRCI THIKI QI KG FDKMI <DKFB;G=

'aGCIS HD IEGK<DZG ^RD FCIFD ;D DKWGHWDC IH D<TDEFI;GC DK RK ;D<GC;DK ;D BU\VDXKD<S TGC^RD DK FIKFG _H FDKVI RKI TDC<TDEFBWI ;D<;D HI ERIH GY<DCWIC HI GYCIS FG;G^RD;IC\ GC;DKI;G RKI WDb U\<= 3GC GFCG HI;GS DKFBDK;G TDCNDEFIUDKFD <R KDED<B;I;;D RKI BUIVDK ;DH aGUYCDS TRD<FG ^RD _H D< <RZDFG ;DH EIG<S TDCG <RED;D ^RD D<FG HGRKD I R<FD; <BDUTCD I HI IEFBFR; DcTCD<BGKB<FIS TRD< <R BUIVDK KG D< NCMI <BKG ^RDURD<FCI IH aGUYCD WBWBDK;G <R EIG<= #R DcTCD<BGKB<UG D< RK TDHBVCG TICI <R Yk<^RDX;I= .BDKFCI< <R GYCI <BVI FDKBDK;G RKI RKB;I; FDU\FBEIS R<FD; KG DKEGKFC\ DH EIG<^RD D<F\ YR<EIK;G= 3DCG KG ^RBDCG ^RD UB< FDGCMI< DKNCMDK <R TBKFRCIS DH EIG< D<FDCBHBXbI;G KG FBDKD <DKFB;G= 0GKFBKkD EGK <R DcTCD<BGKB<UGS TDCG KG <D ^RD;D IHHMS ;DFD<FGI HG< ICFB<FI< ^RD D<TDERHIK EGK <R URK;G <RYZDFBWG=

,G ECDGS EGUG R<FD;S ^RD DH ICFD D< DcTCD<BLKS <BKG ^RD I TICFBC ;D RKI KDED<B;I;DcTCD<BWI DH ICFB<FI <D GYZDFBWI I <M UB<UG DK HI Yk<^RD;I ;D RKI BUIVDK ;DH URK;G^RD HG CG;DI Q ^RD IH UB<UG FBDUTG <D HD D<EITI EGKFBKRIUDKFD EGUG I RK ITCDK;Bb;D YCRZG= 3DCGS FIH WDbS IUYG< IEDCFIUG<S D<TDEBIHUDKFD ERIK;G D<FIUG< FIK TCLcBUG<RKG ;DH GFCG= *H aDEaG ;D ^RD HG< ;G< <DIUG< RKI <GHI TDC<GKI TRD;D <DC kFBHl TDCGUDZGC <DCMI ^RD R<FD; KG BKFDCNBCBDCI DK UB FCIYIZG ;D FDLCBEG Q ^RD QG ITCDK;BDCI IITCGWDEaIC <R DcTDCBDKEBI= ';DU\<S <BK BKFDCNDCBC DK <R FCIYIZG ;D TBKFGCS ;DYG EGKFBXKRIC <BDK;G <R EGKEBDKEBI HkEB;IS TGC^RD <B YBDK R<FD; D< U\< <DK<BYHD Q DKFBDK;D UI<;D TBKFRCI ^RD QGS QG <GQ U\< BKFDHBVDKFD Q DKFBDK;G U\< <GYCD DH TCGED<G ECDIFBWGEGKFDUTGC\KDG ^RD R<FD;= #_ ^RD D<FD TCGED<G HD D< DcFCIdG DK FIKFG BK;BWB;RGS TDCGR<FD; KG D< IZDKG I _H5 <BKG ^RD NGCUI TICFD ;DH UB<UG=

-RDKGS €YI<FI D<FG EGUG BKFCG;REEBLK~ŒOBWI DH EIG< TGC^RD D< HG kKBEG ^RD D<F\ WBWG

:fgii>

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pjs

0'36$8+% )*0".%$*&0*&%*+ !"#3',"#.% *, +' 3",$8&' '.*&"0','

f= *+ '&$* *#3'P%+ *, './&"0'

' TICFBC ;D fjgjS IdG DK ^RD *<TIdI TDC;BL HI< kHFBUI< TG<D<BGKD< ;D RHFCIUIC:0RYIS 3RDCFG &BEG Q 2BHBTBKI<>S <D IEDKFRL HI EGK<GHB;IEBLK DK HI 3DKMK<RHIS ;D RKIEGCCBDKFD ;D TDK<IUBDKFG FDK;DKFD I TCGTBEBIC RKI [CDEGK^RB<FI D<TBCBFRIH ;D 'U_CBXEI]S D< ;DEBC RK IEDCEIUBDKFG FCI< DH HICVG TIC_KFD<B< ;DEBUGKLKBEGS <R<FDKFI;G DK DHTHIKG ERHFRCIH Q ICFM<FBEG= #B QI IRFGCD< EGUG 4KVDH 7IKBWDF |URDCFG DK <BFRIEBLKFC\VBEI D<D TICI;BVU\FBEG IdGX aIYMI aDEaG aBKEITB_ DK HI KDED<B;I; ;D RK IEDCEIXUBDKFG I 'U_CBEIS HBFDCIFG< ;D HI ;D<TR_< HHIUI;I [7DKDCIEBLK ;DH gj] DK D<TDEBIH.BVRDH ;D 8KIURKG I FCIW_< ;D <R< EGHRUKI< DK DH ;BICBG +I ,IEBLK ;D -RDKG<'BCD<S aICMIK NIEFBYHD DH ;D<DG=

*K HG ^RD I HI TBKFRCI CD<TDEFIS aIEBI NBKIHD< ;DH `"` <D IEFBWL RK BKFDCD<IKFDUDCEI;G TICI DH ICFD D<TIdGH ^RD NRD HHDWIK;G DK NGCUI TIRHIFBKI I HI EGKNGCUIEBLK;D EGHDEEBGKD< TkYHBEI< Q TCBWI;I< ;D KGFIYHD DKZRK;BI= )D DHHG <GK ;DUG<FCIFBWG<IEDCWG< ;D TBKFRCI D<TIdGHI NRK;IUDKFIHD< EGUG HG< ^RD TG<DDK HG< UR<DG< KIEBGXKIHD< ;D YDHHI< ICFD< ;D +I !IYIKIS -RDKG< 'BCD<S #IKFBIVG ;D 0aBHD QS DK UDKGCD<EIHIS HG< ;D &MG ;D eIKDBCG Q .GKFDWB;DGS <BK EGKFIC HI< EGHDEEBGKD< CDRKB;I< TGC DHUIVKIFD 'CEaDC .= !RKFBKVFGK DK HI !B<TIKBE #GEBDFQ GN 'UDCBEI ;D ,RDWI 1GCn=*<FG aIYCMI ;D <DC RKG ;D HG< YI<IUDKFG< TICI HI CDERTDCIEBLK ;D HI< WBKERHIEBGKD<DKFCD *<TIdI Q 'U_CBEI DK HI NIb ICFM<FBEIS <DUYCIK;G RKI <DUBHHI ^RD aIYCMI ;D ;ICURQ TCGKFG <R< NCRFG<=

*K fjgsS DK -RDKG< 'BCD<S DH UICEaIKFD eG<_ 'CFIH BKBEBIYI <R IK;I;RCI EGUGUDCEI;DC ;D TBKFRCI D<TIdGHI DK I^RDHHI EITBFIHS EGK RK <RED<G ;D TkYHBEG Q WDKFI<BKR<BFI;GS TGFDKEBI;G IdG FCI< IdG= .\< I;DHIKFD BUBFICMIK DH UG;DHG GFCG< EGUG eG<_3BKDHG Q eR<FG -GR= *<FD _cBFG EGUDCEBIH <BK TCDED;DKFD<S ^RD FDK;CMI CDNHDZG DK GFCI<EITBFIHD< IUDCBEIKI<S IRK^RD <BK IHEIKbIC DH <RED<G ICVDKFBKGS <DKFICMI HI< YI<D< ;DRK <LHB;G EGHDEEBGKB<UG ;D ICFD ;D FBKFD aB<T\KBEGS TCBUDCG DK DH \UYBFG TCBWI;G TDCGHRDVG EGK aRDHHI ;DEB<BWI DK HI< EGHDEEBGKD< TkYHBEI<= +I NGCFRKI ;D HI TBKFRCI D<TIX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pjg

HG< ICFB<FI< D<TIdGHD< G HI< GYCI< ^RD KG aIYMIK FDKB;G EGUTCI;GC DK *<TIdI= ' TICFBC;D D<D UGUDKFGS HG< UICEaIKFD< <D WBDCGK DK HI GYHBVIEBLK ;D TCD<DKFIC EGKZRKFG< ;DUIQGC EIHB;I; G ;D YIZIC DH TCDEBG ;D I^RDHHI< ^RD <D WBDCGKS KG DCIK [GYCI< UID<XFCI<]=

';DU\< ;D HI< DcaBYBEBGKD< EGHDEFBWI< ;DYDUG< UDKEBGKIC HI CDIHBbIEBLK ;D DcTGX<BEBGKD< BK;BWB;RIHD< TGC TICFD ;D ICFB<FI< TDKBK<RHICD< ^RD KG <GHIUDKFD I<B<FMIKTDC<GKIHUDKFD I D<I< TRD<FI< DK D<EDKI <BKG ^RD FIUYB_K ;DEB;BDCGK CI;BEIC<D FDUXTGCIH G ;DNBKBFBWIUDKFD DK D<G< TIM<D<= )DYD aIEDC<D CDNDCDKEBI I^RM KRDWIUDKFD I HI'CVDKFBKIS ^RD NRD HI KIEBLK ^RDS TGC <R TCG<TDCB;I; Q ITDCFRCIS <D EGKWBCFBL DK HITBD;CI IKVRHIC ;DH !B<TIKB<UG TCGTBEBI;G ;D<;D *<TIdI= *KFCD D<G< ICFB<FI< D<TIdGXHD< TRD;D EBFIC<D I HG< TBKFGCD< eRHBG OBHI B 3CI;D<S 7R<FIWG -IEICB<I<S *CKD<FG OIHH<S'K<DHUG .BVRDH ,BDFGS 'KFGKBG %CFBb *EaIVuD G HG< D<ERHFGCD< $GCERIFG $I<<G QeG<_ 0IC;GKI= #D TCGTBEBL I<M RKI BKNHRDKEBI ;BCDEFI DZDCEB;I TGC _<FG< DK DH \UYBFGICVDKFBKG=

*K D<FD <DKFB;GS BK;R;IYHDUDKFD DH DZDUTHG U\< ;D<FIEI;G HG FDKDUG< DK 0aBHD;GK;D DH VIHHDVG 2DCKIK;G 4HWICDb ;D #GFGUIQGC NRD EGKFCIFI;G TICI IEFBWIC HIDK<DdIKbI ;D HI TBKFRCI DK HI 'EI;DUBI ;D -DHHI< 'CFD< aIEB_K;GHG DKFCD fg@j QfgfAS DK ^RD CDFGCKL I *<TIdI= *K D<D HIT<G <D TCG;RZG HI DcTG<BEBLK ;DH EDKFDKICBGEaBHDKG :fgf@> ^RDS IH BVRIH ^RD HI aGULKBUI ICVDKFBKIS EGKFL EGK RKI BUTGCFIKFD

78#$'O% -'0'&"#'#= 3'"#'e* '&7*,$",% :0=fgfp>=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pg@

'&$8&% 7%&)%, :0!"+*>= 0'++* )* /0"e' :0=fg?g>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pgf

TCD<DKEBI ;DH ICFD D<TIdGHS EGUG GERCCBL I<BUB<UG DK HI *cTG<BEBLK ;D 'CFD *<TIdGH D "K;R<FCBI< ;DEGCIFBWI< CDIHBbI;I DK ._cBEG D<D UB<UG IdG= eRKFG I #GFGUIQGC <DNGCUL RK EGKZRKFG ;D ICFB<FI< ZLWDKD< EGUG 'CFRCG 7GC;GKS 'HNCD;G +GYG< G 'HNCD;G!DH<YQ ^RD <BVRBDCGK HI< TIRFI< ;DH [CDVBGKIHB<UG] D<TIdGH <DdIHI;I< TGC DH UID<FCGS^RD ECB<FIHBbICGK HI aRDHHI ;D HG TDKBK<RHIC DK RKI TICEDHI BUTGCFIKFD ;DH ICFD EaBHDKG=*K 0aBHD <RCVBL I<BUB<UG HI NBVRCI ;D -DKBFG &DYGHHD;G 0GCCDIS TG<BYHDUDKFD DHU\cBUG DcTGKDKFD ;DH [<GCGHHB<UG] DK DH EGKFBKDKFD=

?= '&$"#$'# '.*&"0',%# *, *#3'P'

.REaG< ICFB<FI< IUDCBEIKG<S DK EGKFCITICFB;IS EGUTHDFICGK <R NGCUIEBLK DK *<TIXdIS DK D<TDEBIH DK HI CDWBFIHBbI;I 'EI;DUBI ;D #IK 2DCKIK;G ;D .I;CB;S VIKIK;G DKFIH <DKFB;G RK FDCCDKG ^RD aIYMI <B;G IYGKI;G TCBUGC;BIHUDKFD TGC HI< D<ERDHI< BFIHBIXKI< Q NCIKED<I<= *<FD NIEFGC TDCUBFBL TGFDKEBIC HI <DUBHHI ;DH aB<TIKB<UG DK HI< KRDWI<VDKDCIEBGKD< ;D ICFB<FI< IUDCBEIKG<S EGK UIQGC G UDKGC NGCFRKI Q TCGHGKVIEBLK DK DHFBDUTG= *KFCD HG< UDcBEIKG< TG;DUG< <DdIHICS DK HI TCBUDCI ;_EI;I ;DH ``S HI TCD<DKXEBI DK .I;CB; ;D )BDVG &BWDCIS 4KVDH 9\CCIVI Q &GYDCFG .GKFDKDVCGS WBKERHI;G< ITCGND<GCD< EGUG *;RIC;G 0aBEaICCG G DH VCIYI;GC &BEIC;G -ICGZI DK HI EBFI;I 'EIX;DUBI= +G< UDcBEIKG< aIYMIK <B;G ;B<EMTRHG<S DK HI 'EI;DUBI ;D #IK 0ICHG< ;D ._cBXEGS ;DH EIFIH\K 'KFGKBG 2IYC_<S RKG ;D HG< U\cBUG< DcTGKDKFD< ;D HI TBKFRCI GCBDKFIHB<FID<TIdGHIS TDCG ERQI aRDHHI DK D<D <DKFB;G ITDKI< <B <D ;DZL <DKFBC= &BWDCI Q 9\CCIVISFCI< RK TCBUDC UGUDKFG ;D NBHBIEBLK IH ICFD ;D 9RHGIVI QS DK DH EI<G ;DH <DVRK;GS IH<BUYGHB<UG ;DH EGC;GY_< eRHBG &GUDCG ;D $GCCD<S TI<ICGK I 3ICM< ;GK;D TCGKFG HD<DKEIK;BHICGK DH ERYB<UG Q GFCI< FDK;DKEBI< ;D WIKVRIC;BI= )D <R TI<G TGC *<TIdI^RD;ICGK GYCI< ;D HI EIHB;I; ;D +I )\;BWI :fg@g> ;D 9\CCIVIS DK ;GK;D HI aRDHHI ;D9RHGIVI Q ;D &GUDCG ;D $GCCD<S TCDUBI;G DK DH #IHLK ,IEBGKIH ;D fg@j TGC <R .R<I VBFIKI S D< DWB;DKFDS EGKNGCUIK;G RKI ;D HI< UIQGCD< DcTCD<BGKD< ;DH [!B<TIKB<UG]DK DH ICFD IUDCBEIKG= .GKFDKDVCGS ^RBDK FIUYB_K TI<L I HI EITBFIH NCIKED<IS <D BKEHBKLTGC DH ;DEI;DKFB<UG I HG 'RYCDQ -DIC;<HDQ Q TGC DH UIVB<FDCBG ;DH EIFIH\K !DCUDK'KVHI;I 0IUICI<IS YIZG HI D<NDCI ;DH ERIHS BK<FIHI;G DK .IHHGCEI DKFCD fgfh Q fgfgSTCG;RZG RKI <DCBD ;D GYCI< ;D FDU\FBEI D<TIdGHBbIKFD= "K;BCDEFIUDKFDS QI ^RD KRKEIWBIZL I *RCGTIS DH BKNHRZG D<TIdGH HHDVL I GFCG UDcBEIKGS #IFRCKBKG !DCC\KS IRFGC ;DHBKEGKEHR<G FCMTFBEG ,RD<FCG< )BG<D< : fgfj>S TGEG IKFD< ;D <R URDCFD DK DH UB<UG IdG=

,RUDCG<G< ICFB<FI< ;D GFCG< TIM<D< IUDCBEIKG< <RCEICGK DH FDCCBFGCBG D<TIdGH TGKB_K;GX<D DK EGKFIEFG EGK HI< D<ERDHI< CDVBGKIHB<FI< ;D TBKFRCI Q CDIHBbIK;G GYCI< ;GK;D HG<TIB<IZD< Q FBTG< EG<FRUYCB<FI< NRDCGK HI KGFI <IHBDKFD= *K D<FD <DKFB;G 'K;IHREMI NRD HICDVBLK ̂ RD U\< BK<TBCIEBGKD< NGCZLS Q DK ;GK;D D;BNBEBG< DUYHDU\FBEG< EGUG HI 'HaIUYCISG HI< NBVRCI< ;D UIZI<S FGCDCG< Q VBFIKI< ;DH #IECGUGKFD aIYCMIK ;D <DC UGFBWG CDERCCDKFD=*<FG <D WBG NIWGCDEB;G TGC HI FCI;BEBLK ̂ RD D<FG< FDUI< FDKMIK DK 3ICM< ;D<;D HI TRYHBEIEBLK;D HI KGWDHI 0ICUDK ;D 3CG<TDC ._CBU_D DK fjhi aI<FI DH _cBFG ;D HG< EIN_< NHIUDKEG< INBKIHD< ;DH `"` Q aI<FI YBDK DKFCI;G DH ``S TI<IK;G TGC GYCI< TBEFLCBEI< EGUG +GHI ;D OIHDKEBI :fji?> Q GFCI< CDIHBbI;I< TGC *;GRIC; .IKDF DK FGCKG I fjiAS IdG DK DH ̂ RD WBIZLI *<TIdIS G *H eIHDG :fjj?> ;DH KGCFDIUDCBEIKG eGaK #BKVDC #ICVDKF= 3G;CMIUG< I^RM BKBEBIC RKI HB<FI BKFDCUBKIYHD ;D ICFB<FI< ;D FG;I< HI< HIFBFR;D< IUDCBEIKI< ̂ RD BKEGCTGCICGK

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pg?

HI< FDU\FBEI< [D<TIdGHI<] EGUG TICFD ;D <R FCIQDEFGCBI ICFM<FBEIS ;D<;D HG< UDcBEIKG< QIUDKEBGKI;G<S aI<FI HG< ICVDKFBKG< eGCVD #GFG 'EDYIH Q &G;GHNG 2CIKEGS HG< EaBHDKG<'HYDCFG %CCDVG +REG Q 'HNCD;G +GYG<S DH EGHGUYBIKG .BVRDH )MIb OICVI<S DH WDKDbGHIKG$BFG #IHI<S G BKEHR<BWD DH ZGWDK ERYIKG {BNCD;G +IUS ;D TI;CD EaBKG Q UI;CD URHIFI:;D<EDK;BDKFD ;D D<TIdGHD< Q INCBEIKG<> Q ^RD aIYCMI ;D IHEIKbIC <R EGK<IVCIEBLK EGUGBKF_CTCDFD EGKFDUTGC\KDG ;D HI ERHFRCI INCGXERYIKIS DK HI UB<UI <DK;I ;DH UD<FBbIZD=

p= .*#$"9'e* '&$6#$"0%5 *#$/$"0' !"#3',' 1 $*.4$"0'#

p= '.*&"0','#

+I< TIRFI< D<F_FBEI< ITCDaDK;B;I< DK HI 3DKMK<RHIS I HI TIC ̂ RD D<FG< TBKFGCD< CDVCD<IXYIK I <R< KIEBGKD< ;D GCBVDKS DK UREaG< EI<G< NRDCGK DH YI<IUDKFG ICFM<FBEG TICI IYGC;ICFDUI< TCGTBG< ;D <R< TIM<D<= *H EBEHG ;DH UD<FBbIZD ICFM<FBEG <D EGUTHDFIYI EGK D<FI KRDWICDIHB;I;S ^RD UG<FCIYI RKI NCIKZI ;DH ICFD ;D 'U_CBEI EGUG <B _<FI NRDCI RKI CDVBLKD<F_FBEI WBKERHI;I IH CDVBGKIHB<UG D<TIdGH= #B DK fg?g DH QI EBFI;G )MIb OICVI< CDIHBbIYIDK 7CIKI;I RK HBDKbG ;D BUTGCFIKFD< ;BUDK<BGKD< ERQG UGFBWG DCIK HI< VBFIKI< <IECGXUGKFIKI<S IdG< ;D<TR_<S QI DK 0GHGUYBIS TBKFIYI RK EGKZRKFG ;D 0DCIUB<FI< ;D &\^RBCI ERQG EGHGC HGEIH UREaG ;DYMI IH CGZBbG Q IUICCGKI;G ECGUIFB<UG ^RD aIYMI UICEI;G I

ICFB<FI< EGUG 9RHGIVIS %CFBb *EaIVuDS #GFGUIQGCS +LTDb .Db^RBFI G &G;CMVRDb 'EG<FI=+I ERD<FBLK TG;CMI <BKFDFBbIC<D DK HI EGKNHRDKEBI ;D FDUI IUDCBEIKG EGK D<F_FBEI D<TIdGHI=

'+-*&$% %&&*7% +80% :0!"+*>= 7*,*&'+"2* :0=fjgA>=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pgp

+/%,"* .'$$!"# :'&7*,$",'>= '+!'.-&' :fgf@>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pgh

' HI WDbS DK HI NIb FDU\FBEIS IHVRKG< ICFB<FI< <D ;D;BEICGK I CDTCD<DKFIC FDUI< WBKERHIX;G< IH TI<I;G EGHGKBIHS WBCCDBKIH Q ECBGHHG= *K IHVRKG< EI<G< HG aBEBDCGK YIZG TIRFI< D<F_FBXEI< KDFIUDKFD aB<T\KBEI< EGUG DK DH EI<G ;DH TDCRIKG eG<_ #IYGVIHS NBVRCI TCBKEBTIH ;DHBK;BVDKB<UG DK DH 3DCkS ̂ RBDK DK fgfg CDIHBbL HI GYCI 0Rb^RDdI <IHBDK;G ;D UB DK HI ̂ RD <D WD I RKI ;IUI HBUDdIS EGK UIKFBHHI KDVCIS <BDK;G IEGUTIXdI;I TGC <R ECBI;G BK;MVDKI DK RKI UIdIKI ;D ;GUBKVGS EGK RK DKFGCKG IC^RBFDEFLKBEGEGHGKBIH ;GK;D ;D<FIEI DH FMTBEG YIHELK= *K HI UB<UI HMKDIS eRIK 0ICHG< 'HGK<GS ICFB<FIVIHHDVG CI;BEI;G FDUTCIKIUDKFD DK HI 'CVDKFBKIS ̂ RD NRD ;BCDEFGC ;D HI< ;G< CDWB<FI< ;D;BNR<BLK aB<TIKB<FI U\< BUTGCFIKFD< ;D HI 'CVDKFBKIS 0ICI< Q 0ICDFI< Q <GYCD FG;G 3HR< 8HFCI S CDIHBbL TICI D<FI kHFBUI DH VGRIEaD FBFRHI;G ' HI <IHB;I ;DH FD;_RUS ̂ RD URD<FCI DKTCBUDC THIKG I RKI ;IUI IFIWBI;I EGK HI CDTDFBFBWI UIKFBHHIS Q <R ;IUI ;D EGUTIdMI=

*<FD FBTG ;D CDTCD<DKFIEBGKD<S ;D<;D RK TRKFG ;D WB<FI B;DGHLVBEGS FBDKD TICIKVLK EGKHI EGK<GHB;IEBLK ;D HI IC^RBFDEFRCI KDGEGHGKBIHS DK DH <DKFB;G ;D HI CDERTDCIEBLK BEGKGXVC\NBEI ;DH TI<I;G ;D ;GUBKIEBLK aB<T\KBEI ̂ RD aBEBDCGK IC^RBFDEFG< EGUG .ICFMK ,GDHS4KVDH 7RB;G G !_EFGC ODHIC;DS G DH akKVICG eRIK oCGKNR<< DK HI 'CVDKFBKIS I FCIW_< ;D HI

TRYHBEIEBLK ;D HBYCG< TGC _H BHR<FCI;G< EGK UGKRUDKFG< EGHGKBIHD< ;D<FIEI;G< ;DH TIM<= +INCIKED= 3*$*,*&'# :fg@g>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pgA

0%&%+"',% +*8)% :0%+%.-"'>= +' .',$"++' -%7%$',' :0=fgfs>=

EBGKD< aB<FLCBEI< ;DH TI<I;G EGHGKBIH ;D -RDKG< 'BCD<S HI< .B<BGKD< eD<RMFBEI< Q HG< TRDXYHG< ;DH 'HFG 3DCkS ;D VCIK BKNHRDKEBI Q TCD<DKEBI DK HG< HBYCG< D<EGHICD<l HI D;REIEBLKTCBUICBI NRD ;DFDCUBKIKFD DK HI ;BNR<BLK ;D RKI aB<FGCBI ;GK;D DH TI<I;G WBCCDBKIH Q HI<FCI;BEBGKD< aB<T\KBEI< NRDCGK TRD<FI< TG<BFBWIUDKFD DK WIHGC=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pgi

*H FDUI ;D HI CDHBVBG<B;I; TGTRHICS HIFDKFD DK 'U_CBEI Q EGK ;D<FIEI;I TCD<DKEBIDK HI TBKFRCI CDVBGKIHB<FI D<TIdGHIS NRD GFCI ;D HI< NIEDFI< ^RD <D BKEGCTGCL IH ICFDIUDCBEIKG EGKFDUTGC\KDG EGUG DHDUDKFG ;D !B<TIKB<UG= *H FDUI ;D HG< [<IKFDCG<]^RD NRD GYZDFG ;D BK<TBCIEBLK ;D BUTGCFIKFD< ICFB<FI< D<TIdGHD< EGUG *;RIC;G 0aBXEaICCGS ITICDED I HG HICVG Q IKEaG ;DH EGKFBKDKFD CDTCD<DKFI;G YIZG TIRFI< D<F_FBEI<aB<TIKBbIKFD< EGUG <D WD DK +I <IKFDCI ;DH TRDCFGCCB^RDdG .BVRDH 3GR -DEDCCI:fg?j> G HG< BUIVBKDCG< ^RD TGEG< IdG< IKFD< aIYMIK TBKFI;G DK HI 'CVDKFBKI eGCVD-DCUk;Db Q *UBHBG 0DKFRCBLK=

*H CDFCIFG NDUDKBKGS RKG ;D HG< V_KDCG< U\< DK YGVI DK D<FG< IdG<S UG<FCICMI HIBUTCGKFI aB<T\KBEI I FCIW_< ;D HI DcBVDKEBI ;D HI< CDFCIFI;I< DK <DC CDTCD<DKFI;I<EGUG VDKRBKI< ;IUI< D<TIdGHI<S EGK <R< UIKFGKD<S TDBKDFI< Q IYIKBEG< I;GCKI;G<EGK UGFBWG< ^RD BYIK ;D<;D HG VIHIKFD I HI< D<EDKI< ;D FGCDG D BKEHR<BWD HI< EaBKGBX <DCBD< ;D UG;I DK 3ICM<= )DKFCG ;DH EGKEDTFG ;D UD<FBbIZD ICFM<FBEGS TG;CMIUG< <DdIHICEGUG TICI;BVU\FBEG DH CDFCIFG ^RD CDIHBbI DH ICVDKFBKG eGCVD +ICEG FBFRHI;G .B TCBUI eRHBI DK HI ^RD <D WD I HI UG;DHG WD<FB;I [I HI D<TIdGHI]S TDCG CDEGCFI;I <GYCD RKEHICM<BUG TIB<IZD ICVDKFBKG TG<BYHDUDKFD ;D HI TCGWBKEBI ;D 0LC;GYI ^RD TGC DKFGKXED< :fgfAXfg?@> EGUDKbIYI I DCBVBC<D DK RKG ;D HG< [CD<DCWGCBG< ;DH IHUI KIEBGKIH]ICVDKFBKIS ZRVIK;G RK TITDH <BUBHIC IH ;D 0I<FBHHI DK HI *<TIdI ;DH CDVDKDCIEBGKB<UG=+G< D<FR;BG< NGFGVC\NBEG< <D WBDCGK I<BUB<UG GYHBVI;G< I BUTGCFIC ;D<;D HI 3DKMK<RHIHI BK;RUDKFICBI D<TDEMNBEIS KDED<ICBI TICI ^RD HI EHBDKFDHI TR;BDCI <IFB<NIEDC <R ;D<DG;D WDC<D DK HI BUIVDK EGUG <DdGCI< G EIYIHHDCG< [D<TIdGHD<]=

$G;I< D<FI< GYCI< ^RD aDUG< WDKB;G IKIHBbIK;G KG< TDCUBFDK DKFDK;DC RK UGXUDKFG ECREBIH TICI DH ICFD Q HI ERHFRCI IUDCBEIKG<S UICEI;G TGC RKI UBCI;I BKFCG<TDEXFBWI ^RD YREDIYI DK HI< CIMED< aB<FLCBEI< TICI ;DNBKBC RKI B;DKFB;I; YI<I;I DK DHTI<I;G Q TCGQDEFIYHD aIEBI DH NRFRCGS TGFDKEBI;I TGC aDEaG< EGUG DH D<FIHHB;G ;D HITCBUDCI VRDCCI URK;BIH ^RD WBKG I TGKDC DK FDHI ;D ZRBEBG IH UG;DHG ERHFRCIH DRCGTDGEGUG TICI;BVUI EI<B BKFGEIYHD= #RTDCI;G< HG< EGKNHBEFG< Q CD<^RDUGCD< ;D IKFIdGS*<TIdI DKEGKFCL DK 'U_CBEI RK D<TDZG ERHFRCIH ;GK;D UBCIC<D Q DKEGKFCIC CIbGKD<TICI <R TCGTBI B;DKFB;I;S UBDKFCI< ^RD 'U_CBEI aIHHL DK HI FCI;BEBLK aB<T\KBEI DHDXUDKFG< THIR<BYHD< ;D <DC CDWBWB;G< Q DKFCGKEI;G< EGK <R TCGTBI aB<FGCBIS <R ERHFRCI QSTGC DK;DS <R ICFDS EGKNBCU\K;G<D TRD< EGUG <R<FDKFG ;D HI KIEBGKIHB;I;=

h= .'++%&0'S 38,$% ,*8&4+7"0% )*+ '&$* "-*&%'.*&"0',%

*KFCD HG< VCIK;D< [FCBRKNI;GCD<] ;D HI *cTG<BEBLK ;DH 0DKFDKICBG DK 'CVDKFBKIS DKfgf@S aIYMIUG< KGUYCI;G IH EIFIH\K !DCUDK 'KVHI;I 0IUICI<I= 1I IH IdG <BVRBDKFDIER;BDCGK I 3ICM<S TICI TDCNDEEBGKIC<D DK DH FIHHDC ;D _<FDS HG< TBKFGCD< $BFG 0BFFI;BKBS&G;GHNG 2CIKEGS eGCVD -DCUk;DbS 'HNCD;G 7GKb\HDb 7ICIdG Q 7CDVGCBG +LTDb ,IXVRBHS HG< D<ERHFGCD< 'HYDCFG +IVG< Q 7GKbIHG +DVRBbIULK 3GK;IHS Q HG< HBFDCIFG<&BEIC;G 7uBCIH;D< Q %HBWDCBG 7BCGK;GS FG;G< ;D 'CVDKFBKI= ' DHHG< <D RKBDCGK HG<UDcBEIKG< &GYDCFG .GKFDKDVCGS )C= 'FHS eGCVD *KEB<G Q ';GHNG -D<F .IRVIC;S NCDXERDKFIK;G FIUYB_K HI< FDCFRHBI< ICFM<FBEI< eG<_ OI<EGKEDHG<=

0GKGEB;G EGUG DH [VCRTG ;D HI &RD -IVKDRc]S D<FG< ICFB<FI< BYDCGIUDCBEIKG< <DDUTITICGK ;D HI D<F_FBEI ;DEGCIFBWB<FI ;D 'KVHI;IS ;D HI< EGCCBDKFD< ;D CD<EIFD ;D HI<



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pgs

'+2&*)% &'.%# .'&$6,*9 :./`"0%>= &*$&'$% :fgp@>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$pgj

ICFD< TCBUBFBWI< GCBDKFIHB<FI< Q INCBEIKI< DK YGVI DK 3ICM<S Q ;D HI D<F_FBEI ;D HG<-IHHDF< &R<G<= !BEBDCGK ;D 3ICM< RKI TCGHGKVIEBLK D<TBCBFRIH ;D 'U_CBEIS NCIVRIK;G DH;D<TDCFIC IUDCBEIKB<FI ^RD aICMI DEHG<BLK DK HG< IdG< WDBKFD= 0GK FG;I TCGYIYBHB;I;FRWBDCGK DKFCD <M BKFDCD<IKFD< ;B\HGVG< Q HICVG< ;DYIFD< DK DH <DKFB;G ;D TCGTBEBICS IFCIW_< ;D <R< TCGTBG< HDKVRIZD< TH\<FBEG<S RKI CDWIHGCBbIEBLK ;D HI< NGCUI< ;D HI< ICFD<TGTRHICD< IUDCBEIKI< Q DK D<TDEBIH ;DH ICFD TCDEGHGUYBKG= *K FIH <DKFB;G KG D< EI<RIH^RD -D<F .IRVIC; Q +DVRBbIULK 3GK;IH ;D<ICCGHHICIK I TCBKEBTBG< ;D HG< WDBKFDS QICDFGCKI;G< I <R< CD<TDEFBWG< TIM<D<S U_FG;G< ;D DK<DdIKbI ;D ;BYRZG IRFLEFGKG IUDXCBEIKG=

+I UIQGCMI ;D D<FG< ICFB<FI<S IH D<FIHHIC HI VRDCCI DK fgfhS UIKFRWBDCGK <R NB;DHB;I;I 'KVHI;I IEGUTId\K;GHD I <R CDFBCG DK .IHHGCEI= *K FGCKG I _H <D EGKNGCUL RKIWDC;I;DCI EGHGKBI ;D ICFB<FI< BYDCGIUDCBEIKG< DK HI ERIH TICFBEBTICGK FDUTGCIHUDKFDGFCG< KGFIYHD< EGUG HG< ICVDKFBKG< +RB< 0GC;BWBGHI Q %EFIWBG 3BKFG G HG< RCRVRIQG<'K;C_< *FEaDYICKD -B;ICF Q 0ICHG< 'HYDCFG 0I<FDHHIKG<S ^RBDKD< aDCD;IYIK RKI FCIX;BEBLK ;D TCD<DKEBI IUDCBEIKB<FI ^RD aIYMI ;I;G IKFDCBGCD< Q ;D<FIEI;G< NCRFG< EGKHI IEFBWB;I; TBEFLCBEI ;DH RCRVRIQG 3D;CG -HIKD< OBIHD Q HG< ICVDKFBKG< 'FBHBG -GWDCBS2CIKEB<EG -DCKICDVVB Q 0D<\CDG -DCKIH;G ;D qRBCL<=

+I EGKFBKRB;I; ;DH ITCDK;BbIZD ZRKFG I 'KVHI;IS IaGCI EGK RKI UIQGC FDK;DKEBIIH TIB<IZD ;I;I HI UGKRUDKFIHB;I; Q DH EIC\EFDC CDNDCDKEBIH ^RD _<FD <BDUTCD I;^RBCBLDK .IHHGCEIS ;GFL I HG< ICFB<FI< BYDCGIUDCBEIKG< CI;BEI;G< DK HI B<HI ;D RK U_FG;GTICI DKFDK;DC D BKFDCTCDFIC DH TIB<IZDS FIKFG DK <R WDCFBDKFD WBCVBKIH EGUG DK HI BKFDXVCIEBLK ;D HI NBVRCIS URQ HBVI;I IH TDK<IUBDKFG ;DH EIFIH\K= +I UIQGCMI ;D DHHG< X

',)&/# *$0!*-'&,* -")'&$ :8&878'1>= 0'#' )* 3*#0')%&*#S 3%++*,#' :fgfA>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# pgg

3*)&% -+',*# O"'+* :8&878'1>= e'&)6, .'++%&q86, :0=fgfA>=

DcEDTEBGKD< NRDCGK 0BFFI;BKB Q -DCKICDVVBX CDFGCKICGK I <R< TIM<D< Q <D WBKERHICGK IHG< UGWBUBDKFG< ICFM<FBEGXBKFDHDEFRIHD< [KIEBGKIHB<FI<] ^RD <D D<FIYIK INBCUIK;G ITCBKEBTBG< ;D HG< IdG< WDBKFD DK DH \UYBFG CBGTHIFDK<D= ,G GY<FIKFD D<FD <kYBFG QTCGTGCEBGKIHUDKFD UI<BWG BKFDC_< ^RD WICBG< ICFB<FI< FRWBDCGK TGC .IHHGCEI DK HI<DVRK;I ;_EI;I ;DH ``S HI TCD<DKEBI ;D TBKFGCD< BYDCGIUDCBEIKG< DK HI B<HI ;IFIYI ;DIHVRKG< HR<FCG< IFC\<= *H IdG fg@p UICEL HI TCD<DKEBI DK HI B<HI ;DH ZGWDK TBKFGCICVDKFBKG 0D<\CDG -DCKIH;G ;D qRBCL<= 8K ,GEFRCKG UIHHGC^RM CDIHBbI;G DK D<FI_TGEI TIFDKFBbI DH BKNHRZG ;DH KGCFDIUDCBEIKG eIUD< .E,DBH {aB<FHDC Q <R< KGEFRCKG<SEGK ERQG< TD^RDdG< TRKFG< HRUMKBEG< ;IYI I <R< ERI;CG< RK aIHG ;D UB<FDCBG QCGUIKFBEB<UG=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h@@

*H BKFDC_< ;D HG< ICFB<FI< BYDCGIUDCBEIKG< TGC .IHHGCEIS TRD<S <D aIYMI B;G IEDKXFRIK;G VCI;RIHUDKFD aI<FI IHEIKbIC <R TRKFG ERHUBKIKFD ;RCIKFD HG< IdG< WDBKFD=&D<TDEFG ;D D<FI IFCIEEBLK TGC HI B<HIS DH ECMFBEG D<TIdGH eG<_ 2CIKE_< <DdIHL5 [D<FI<RVD<FBLK TBEFLCBEI ;D .IHHGCEI <GYCD HI< ERIHB;I;D< WB<RIHD< Q <DK<RIHD< ;D HG< IUDXCBEIKG<S Q U\< EGKECDFIUDKFD ;D HG< ICVDKFBKG<S IEI<G ;IdD FIKFG EGUG HI GFCI <RVD<XFBLK HBFDCICBbIKFD ;D OI<EGKBI <GYCD HI< ERIHB;I;D< <DK<GCBIHD<S I HI EIYIH B;DKFBNBEIEBLKDUGEBGKIHS IH ZR<FG EGKGEBUBDKFG DFKGVC\NBEG ;D *<TIdI===]=

0*#4&*% -*&,'+)% )* q8"&J# :'&7*,$",'>= ,%0$8&,% :.'++%&0'> :fg@p>=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h@f

#*+*00"J, )* ".47*,*#

)"*7% &"O*&' :./`"0%>= &*$&'$% )* 8, *#3'P%+ :fgf?>

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h@?

'H TBKFGC UDcBEIKG )BDVG &BWDCI <D HG EGKGED NRK;IUDKFIHUDKFD TGC HG< URCIHD<^RD DZDERFL DK <R TIM< I TICFBC ;D HI ;_EI;I ;D fg?@= *K HI< kHFBUI< ;_EI;I< HG<aB<FGCBI;GCD< aIK TRD<FG UIQGC IFDKEBLK <GYCD GFCG< TDCBG;G< ;D <R TCG;REEBLKSEGUG <R UGUDKFG ERYB<FI DK FGCKG IH IdG fgfAS QS U\< IFC\< DK DH FBDUTGS <R< IdG<[D<TIdGHD<] :fg@gXfgf?> ;D HG< ERIHD< aIK ^RD;I;G FD<FBUGKBG< TBEFLCBEG< ^RD WIK;D<;D HI BUIVDK ;D RKG< IKEBIKG< DK $GHD;G aI<FI RK TBEI;GC ;D FGCG<S TI<IK;G TGCGYCI< EGUG D<FD &DFCIFG ;D RK D<TIdGH DK DH ERIH ^RD;I DWB;DKEBI;I HI aRDHHI ;DICFB<FI< EGUG "VKIEBG 9RHGIVI R GFCG< EGKFDUTGC\KDG< FIKFG DK HI EGUTG<BEBLK EGUGDK DH EGHGCB;GS BKEGCTGCIK;G FGKIHB;I;D< UICCGKD< Q RK BK^RBDFIKFD EBDHG VCB<\EDG=8KI WDb FCI<HI;I;G I 3ICM< DH EIUYBG D<F_FBEG ;D &BWDCI <DC\ CGFRK;GS IYCIbIK;G HG<HBKDIUBDKFG< ;DH ERYB<UG IRK^RD BKEGCTGCIK;G FDU\FBEI< ^RD IRK URD<FCIK <R WBKXERHIEBLK I *<TIdI EGUG HI 3HIbI ;D $GCG< G DH &DFCIFG ;D &IULK 7LUDb ;D HI #DCKI SIUYG< ERI;CG< ;D fgfA=

#'+J, '+!'.-&'S 0+8- *#3'P%+ )* -8*,%# '"&*# :fgf?>

+I BUIVDK CGU\KFBEI ;D HI 'HaIUYCIS ;BNRK;B;I BKFDCKIEBGKIHUDKFD ;RCIKFD DH<BVHG `"`S aIYMI EGKWDCFB;G IH D;BNBEBG KIbICM DK ;D<FBKG BKDHR;BYHD TICI HG< WBIZDCG<;D HI _TGEI= *H UB<UG <D EGKWDCFBCMI DK DUYHDUI ;D *<TIdI DK KRUDCG<I< DcTG<BEBGXKD< RKBWDC<IHD<S RFBHBbIK;G <R< HDKVRIZD< GCKIUDKFIHD< DK DH ;B<DdG ;D TIYDHHGKD<SEGUG HG aBEBDCGK FIUYB_K DK 'U_CBEI WICBI< EGHDEFBWB;I;D< D<TIdGHI< IH EGK<FCRBC <R<<D;D<= *< DH EI<G ;DH <LFIKG ;DH 0HRY *<TIdGH ;D -RDKG< 'BCD<S EGK<FCRB;G DK fgf?TGC DH IC^RBFDEFG *KCB^RD 2IRHnDC<S DH EGKGEB;G [#IHLK 'HaIUYCI]= !GQ ;D<FBKI;G INBD<FI< Q YIK^RDFD<S <R< TICD;D< NRDCGK TBKFI;I< DKFGKED< TGC DH UIFCBUGKBG ;D ICFB<XFI< EGUTRD<FG TGC DH ICVDKFBKG 2CIKEB<EG OBHHIC Q HI NCIKED<I +_GKBD .IFFaB<S ^RBDKD<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h@p

<D aIYMIK EGKGEB;G DK 7CIKI;I ;G< IdG< IKFD<= #D FCIFIYI ;D RKI WB<BLK TIKGC\UBEI;D HI EBR;I;S ;D<;D DH UBCI;GC ;D #IK ,BEGH\<S ^RD IYICEIYI RK ICEG ;D pi@ƒ= *K HIIEFRIHB;I; D<G< URCIHD< NRDCGK CDTBKFI;G<S TDC;B_K;G<D <R EIHB;I; GCBVBKIH IRK^RDEGK<DCWIK HG< UGFBWG< TBEFLCBEG<=

3*)&% -+',*# O"'+* :8&878'1>= '+.*,)&%# :.'++%&0'> :fgfA>

8KG ;D HG< TCBUDCG< ICFB<FI< IUDCBEIKG< ^RD FCIYIZL DK HI B<HI ;D .IHHGCEI FGUIKX;G EGUG UGFBWG ;D BK<TBCIEBLK <R< TIB<IZD< ;D UIC Q ;D UGKFIdIS ZIC;BKD< Q TDC<GKIX

ZD< FMTBEG<S NRD DH RCRVRIQG 3D;CG -HIKD< OBIHD= 3CDWBIUDKFD IH VCIK UGUDKFG ;D HIHHIUI;I [D<ERDHI TGHHDK<BKI] ^RD HB;DCL 'KVHI;I 0IUICI<I I TICFBC ;D fgfp Q DK DH^RD HI UIQGC TICFD ;D <R< BKFDVCIKFD< TCGWDKMIK ;D 'CVDKFBKIS GFCG< ICFB<FI< ;D D<FDTIM< EGUG 0D<\CDG -DCKIH;G ;D qRBCL< Q 2CIKEB<EG -DCKICDVVB aIYMIK <DVRB;G HG<TI<G< ;D -HIKD< OBIHDl TG;CMIUG< EBFIC FIUYB_K IH D<FI;GRKB;DK<D eGaK #BKVDC #ICXVDKFS ;D EGCFI D<FIKEBI DK DH IdG fg@s= qRBCL< Q -HIKD< OBIHD ;DZICMIK HI B<HI EGBKEBX;BDK;G EGK DH D<FIHHB;G ;D HI VRDCCI DRCGTDIS <BDK;G RKI ;D HI< kHFBUI< FDHI< TBKFI;I<IHHM TGC DH RCRVRIQG HI ;D HG< 'HUDK;CG< ^RD URD<FCIK EGUG NGK;G HI YIaMI ;D 3IHUISEGK <R DUYHDU\FBEG URDHHD Q EGK ;G< <BHRDFI< <BVKBNBEIFBWI<S HI ;D HI 0IFD;CIH Q HI ;DHI BVHD<BI ;D #IKFI 0CRbS ^RD <GK UGFBWG< ;D KRUDCG<I< GYCI< EGUTCDK;B;I< DK HI

TCG;REEBLK ;D D<FG< ICFB<FI<=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h@h

$"$% 0"$$')"," :'&7*,$",'>= +' 0'+*$' :fgfi>

[===$BFG 0BFFI;BKBS GCBRK;G ;D BFIHBIKG<S KIEB;G DK -RDKG< 'BCD<S FBDKD QI HI KGYHDCRCIHMI UIHHGC^RBKI= #D aI ;D<TG<I;G DK Q EGK .IHHGCEI= #R ZRWDKFR; aI B;G EIUBKIKX;G aIEBI HI UI;RCDb I HG HICVG ;D <DK;DCG< <DCCIKG<S WDCFBEIHD< EIUBKG< ;D IEIKFBHI;GSGHBWICD< TGHWGCBDKFG< Q THIQI< ;D IKFBVRG DKEIKFG EH\<BEG= #GK ;BDbS ^RBKEDS IEI<GU\<S IdG< ;D NDERK;I <RUB<BLK I HI< CDWDHIEBGKD< <BK ED<IC CDKGWI;I< ;D ERIKFG WBYCIDKFCIdIYHD Q NHGFI <RFBH DK HI FBDCCI Q DH UIC ;D .IHHGCEI=

*H TBKFGC KG D< ;D D<G< TIB<IZB<FI< ;D D<EITI;I ;GUBKBEIHS ;D WGEIEBLK ^RBKEDKIXCBIS TIKFGVCINB<FI< ;DH ITRKFD HBVDCG ^RD EGVDK RKI FIC;D ;D TI<DG=

3GC^RD IUI DH EIUTGS WBWD DK _H Q TICI _H= 3GC^RD HD <IYD EGK HDVMFBUG ;DCDEaG IKG <DC <BDUTCD DcTHMEBFGS D<F\ BKURKD ;D I^RDHHI DCRTEBLK CDTDKFB<FI ;D HG< I;WDKD;BXbG< Q ;D HG< ^RD FDUDK TDC;DC DH FCDK ^RD HD< DDWRDHWI I HI EBR;I;= ,G FG;G< HG< ;MI<<GK ;D TBKFIC= !IQ UREaG< ;D <DKFBC Q ;D EGUTCDK;DC Q ;D <DUYCIC WB<RIH D B;DGHLVBXEIUDKFD TICI ^RD HRDVG I _H UB<UG HD <GCTCDK;I HI NHGCIEBLK D<TGKF\KDI Q DH NCRFG ZRVG<G= :===>=

'<MS Q TGC D<FGS D< TIB<IZB<FI $BFG 0BFFI;BKB= #R .IHHGCEI HD TDCFDKDED HDVMFBUIS EGKURFRI NB;DHB;I; DKFCD DH TIM< Q DH ICFB<FI aGUYCD= 1 EGUG HI .IHHGCEI WBWI Q ;BHIFI;I

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h@A

;D THRCIH ;BNDCDKEBIEBLK ;D UGFBWG<S <RVDCDKEBI< Q DUGEBGKD<S HI .IHHGCEI TBKFI;I D<FIUYB_K RK <RIWD Q NRDCFD TCG;BVBG ;D ;BWDC<B;I; DK HG< FDUI< Q HI< DcTCD<BGKD<]=

:2&',0/#S eG<_= [+I .IHHGCEI ;D $BFG 0BFFI;BKB]S .I;CB;S fg?s= &DTC=5 *cTG<BEBL 'KFGHVBEI $BFG 0BFFI;BKB = 3IHUIS 'ZRKFIUDKFS fgjpS T= ps>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h@i

'3/,)"0* )%08.*,$'+

"= *+ '&$* *#3'P%+ *, *+ ./`"0% )*+ 0*,$*,'&"% :fgf@>f

'CFMERHG< ^RD HHDKIK HI< EGHRUKI< ;D HG< TCBKEBTIHD< ;BICBG< UDcBEIKG< TRYHBEI;G<TGC I^RDHHG< ;MI<S ;IK ERDKFI UBKREBG<I ;DH DNDEFG TCG;REB;G DK HI GTBKBLK TGC I^RDHEGKZRKFG ;D [GYCI< UID<FCI<]S I<M HI< EIHBNBEIYIKS ;DH ICFD UG;DCKG= #B DK HI< D<NDCI<DHDWI;I< ;D HI <GEBD;I;S TGC HI NIEBHB;I; ;D HG< WBIZD<S DCI EGKGEB;G Q ITCDEBI;G DHI;DHIKFG DK ^RD <D DKEGKFCIYI HI WB;I ICFM<FBEI D<TIdGHIS Q IRK D<FG ;D RKI UIKDCIKG URQ EGUTHDFIS DCI FGFIHUDKFD ;D<EGKGEB;G DK HI< EHI<D< UD;BI< Q TGTRHICD<S ;GKX;D ;D *<TIdI <LHG <D FDKMIS TGC HG ^RD \ D<FG <D CDNBDCDS DH CDERDC;G IKFBVRG= 2RD FIH DH_cBFG ;D KRD<FCG< TBKFGCD< Q D<ERHFGCD< ^RDS \ HG< TGEG< ;MI< ;D HI BKIRVRCIEBLKSaIYMIK IHVRKG< WDK;B;G ERIKFG FDKMIK DcTRD<FGS Q EI<G <D CDVB<FCI ;D aIYDC<D TD;B;G\ *<TIdI CDTCG;REEBLK ;D HI GYCI I;^RBCB;I TGC IHVkK INBEBGKI;G ;BHBVDKFD= ,G TG;MIDH 7GYBDCKG UDcBEIKGS Q UDKG< DK DH EI<G IEFRIHS DK ^RD aRYBDCI FDKB;G ^RD WBGHDKXFIC<D TICI KG aIEDCHGS TDCUIKDEDC BK;BNDCDKFD \ D<FD UGWBUBDKFG ;D HI GTBKBLKl QNGCUI;G DH TCGTL<BFG ;D ECDIC DK HI *<ERDHI ,IEBGKIH ;D -DHHI< 'CFD< HI #DEEBLK ;D3BKFRCI UG;DCKIS TCGTR<G IH 0GUBF_S Q _<FD IEDTFLS HI I;^RB<BEBLK ;D ;BDb GYCI<SDHDVB;I< DKFCD HI< IHHM DKWBI;I< TGC KRD<FCG< UID<FCG< UG;DCKG<= :x>

3DCG KG D< D<FG <LHGS KB <B^RBDCI HG U\< BUTGCFIKFD= +I EGURKB;I; ;D FDUTDCIUDKXFG Q ;D EG<FRUYCD<S HI INBKB;I; Q <BUBHBFR; ;D HG< UD;BG< ;D WB;I ^RD DcB<FDK DKFCD HI&DTkYHBEI UDcBEIKI Q *<TIdIS TCBKEBTIHUDKFD DK CDHIEBLK EGK <R< CDVBGKD< HDWIKFBKIQ IK;IHRbIS aIEDK ^RD HI< ECDIEBGKD< ICFM<FBEI< D<TIdGHI< DKEIZDK TCDNDCDKFDUDKFDDK HG< VR<FG< ;DH TRDYHG UDcBEIKGl <BDK;G FCB<FD EGKND<ICS ^RD RK FCI;BEBGKIH IYIKX;GKG DK TCGTIVIC Q ;IC EC_;BFG \ HG< TCG;REFG< ;D KRD<FCI BKFDHBVDKEBI Q IEFBWB;I;SaIQI UIKFDKB;G \ 'U_CBEI IB<HI;IS EI<B TGC EGUTHDFGS ;D KRD<FCI WB;I ICFM<FBEI= !GQSVCIEBI< \ HI< kHFBUI< *cTG<BEBGKD< IUDCBEIKI<S ;DYD NDHBEBFIC<D DH 'CFD D<TIdGH ;DaIYDC<D ;I;G \ EGKGEDC DK FG;G DH ,RDWG 0GKFBKDKFDS FIKFG U\< ;DKFCG ;D HI CDIHBX;I;S DK TCG ;D <R< NRFRCG< _cBFG<S ERIKFG TGC aIYDC EGKERCCB;G \ HI UIQGC TICFDS <B KG\ FG;G< HG< 0DCF\UDKD<S EGK FCIYIZG< D<TGKF\KDG<S KG TCDTICI;G< ;DFDCUBKI;IUDKFDTICI RK EGKERC<GS DH FCBRKNG EGCCD<TGK;D \ <R TCG;REEBLK KIFRCIH Q ;BICBIS ^RD;IK;G;D<EICFI;G DH TDHBVCG ;D RK ;D<DKEIKFGS ^RD <BDUTCDS Q D<TDEBIHUDKFD DK DH 'CFDBK;R<FCBIH Q ;DEGCIFBWGS <RDHD FCIDC ITICDZI;G DH CDTCG;REBC HG< TCBUDCG< UG;DHG<S BKFDXCD<I;IUDKFD TCDEGKEDYB;G< Q DcTRD<FG<=

+G< D<ERHFGCD< Q TBKFGCD< D<TIdGHD<S ERQG ICFDS TGC <R TCGTBG CDHDWIKFD WIHDCSIHHIKI HI< NCGKFDCI< Q CBK;D EGUTHIEB;IUDKFD HG< D<TMCBFR<S KG aIK UD;BFI;G <DCBIUDKXFDS KB UREaG UDKG< D<FR;BI;GS DH I<TDEFG TC\EFBEG ;D <R GYCI= #D KG< ;BC\S Q D<EGUTCGYI;I GY<DCWIEBLKS ^RD KG D< NCDERDKFD DKEGKFCIC DK HI aB<FGCBI ;D HI !RUIKBX;I; ICFB<FI< TCDGERTI;G< ;DH E\HERHG ;D BKFDC_<S Q ^RD KB IRK HG< FCIFI;B<FI< VCBDVG<aIK HHDVI;G \ ;D<ERYCBC DH DZDCEBEBG ;DH EGUDCEBG DK ^RBDK UG;DHL HI TCBUDCI D<ERHFRCI

f= &DHIEBLK ;D<ECBTFBWI ;D HI DcTG<BEBLK ;D ICFD D<TIdGH _ BK;R<FCBI< ;DEGCIFBWI<= 3CBUDC0DKFDKICBG ;D HI "K;DTDK;DKEBI .DcBEIKI= .I;CB;X._cBEGS .0.`S 3\V<= ?jXhf=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h@s

;D .DCERCBG= .I< ER_KFD<DS EGK ^RD <B \ HI< Dc^RB<BFDED< ;D RK D<TMCBFR ICFM<FBEG KGIEGUG;IK YBDK TCGED;DCD< BK;R<FCBIHD<S D<S DK EIUYBGS UB<BLK BK;DEHBKIYHD TICI ^RBDXKD< HG TG<DDKS HI ;D RKBC Q UIKFDKDC DK DH <DKFBUBDKFG ;D HI YDHHDbIS <GEBD;I;D< QTRDYHG< ^RD DK _H aIK KIEB;G Q EGKWBWB;GS ERB;IK;G ;D DWBFIC ^RD GFCG< U\< IWB<IX;G<S ITCGWDEa\K;G<D ;D HI< WDKFIZI< ^RD HI ;B<FIKEBI TCGTGCEBGKI Q HI ;D<B;BI IRUDKXFIS HHDVRDK \ <R<FBFRBCKG< DK DH IHUI ;D KRD<FCG< aDCUIKG<S ;D<FCRQDK;GS I<MS RKG ;DHG< U\< D<FCDEaG< WMKERHG< ;D CIbI= :x>

eRHB\K 'CIVLKS "VKIEBG ;D ,GCBDVIS 'KFGKBG -I<IVGBFBS 2HGCDKEBG ;D ,GCBDVIS -CRXKG 9IH;G=

""= +' 3",$8&' *#3'P%+' *, -8*,%# '"&*# :fjj@Xfgp@>?

+I &DTkYHBEI 'CVDKFBKI <D aIYMI EGKWDCFB;G I HG< GZG< ;D HG< ZLWDKD< ICFB<FI<D<TIdGHD< DK RK TIM< DK DH ERIH HI CB^RDbI TICDEMI BKIVGFIYHD= *H NDKLUDKG ^RD HG<VDLVCING< ;DKGUBKIK EGUG [NIEFGCD< ;D CDTRH<BLK Q IFCIEEBLK] <D FCI;REDK DK DHEIUTG ;D HI< YDHHI< ICFD< ;D RKI NGCUI FIK NDaIEBDKFD EGUG DK GFCG< \UYBFG< TCGNDX<BGKIHD< Q <GEBIHD<= +G< NIEFGCD< ;D CDTRH<BLK KG DCIK GFCG< ^RD DH <IFRCIUBDKFG ;DHUDCEI;G TDKBK<RHICS DH <GUDFBUBDKFG BKDNIYHD I HG< ;BEFI;G< ;D HI 'EI;DUBIS HI< ;BNBXERHFI;D< ;D HG< TBKFGCD< KGWDHD< TICI ;D<TRKFIC DK DH TIM< ;D GCBVDK Q HI IR<DKEBI EI<BIY<GHRFI ;D BKWDC<BLK ICFM<FBEI TCBWI;I= +G< NDKLUDKG< ;D IFCIEEBLK <D FCI;REMIK DK HI<GCTCDK;DKFD TRZIKbI DEGKLUBEI ;DH D<FI;G IUDCBEIKGS DH KIEBUBDKFG ;D RKI TGFDKFDYRCVRD<MI EGK<RUB;GCI ;D ICFD Q HI DcB<FDKEBI ;D RKI EGHDEFBWB;I; D<TIdGHI ^RDWIHGCIYI D BKWDCFMI DK GYCI< TH\<FBEI< ;D <R< EGUTIFCBGFI<S HG UB<UG ^RD <RED;MI EGKHI< TCGTBI< BK<FBFREBGKD< TDKBK<RHICD< I<DKFI;I< DK HI EBR;I;=

3GC GFCI TICFD HI CDHIEBLK DKFCD DUBVCIEBLK Q EGUDCEBIHBbIEBLK ;D TBKFRCI D<TIdGHIDK -RDKG< 'BCD< WBDKD ;I;I TGC HI DcB<FDKEBI ;D IVDKFD< EGUDCEBIHD< ICFM<FBEG< WBKERXHI;G< D<FCDEaIUDKFD EGK HG D<TIdGH= $IKFG HI< TCGTBI< VIHDCMI< ;D ICFDS EGUG HG<UICEaIKFD< G HG< EGHDEEBGKB<FI< DcaBYBDCGK DK <R UGUDKFG RK ;DEB;B;G <D<VG aIEBIHG aB<T\KBEG= *<FG< FCD< NIEFGCD<S G THIFINGCUI< ;D HI TCG;REEBLK Q EGUDCEBIHBbIEBLKICFM<FBEI ^RD B;DKFBNBEIK HG< CI<VG< [UG;DCKG<] ;D HI CDHIEBLK DKFCD EHBDKFD Q TBKFGCSFRWBDCGK DK HI EITBFIH TGCFDdI RK TITDH <BKVRHICUDKFD CDHDWIKFD DK HG ^RD <D CDNBDCD IHI TGFDKEBIEBLK ;D HI< GYCI< aB<T\KBEI<= '<MS HI< VIHDCMI< TGCFDdI< U\< BUTGCFIKFD<SEGUG DH #IHLK {BFEGUY G HI 0I<I 0G<FIS EGUBDKbIK I ;D<THDVIC <R HIYGC DcaBYBFBWIEDKFC\K;G<DS EI<B ;D NGCUI DcEHR<BWIS DK HG D<TIdGHS ;D FIH NGCUI ^RD <R< TCGTBDFICBG<G ;BCDEFGCD< DCIK DK UREaG< EI<G< EGUTIFCBGFI< ;D;BEI;G< IH URK;G EGUDCEBIH ;DHICFD= +G UB<UG <RED;D EGK HG< UICEaIKFD<S 'CFIHS 3BKDHG G -GRS EGUDCEBIKFD< G TBKFGXCD< D<TIdGHD< ^RD DKEGKFCICGK DK DH UDCEI;G TGCFDdG RK EHBUI ICFM<FBEG D<TDEBIHUDKXFD NIWGCIYHD= *K HG CDNDCDKFD IH EHBDKFDHB<UG TCBWI;G ;DH ICFDS D<FD KIED I<GEBI;G I FCD<BUTRH<G< Y\<BEG<5 TGC RKI TICFDS HI Yk<^RD;I ;D RK CDEGKGEBUBDKFG ;D HI EGHDEFBWB;I;CDVBGKIH G KIEBGKIH DK HI ^RD <D BK<DCFIS DH BKFDC_< DEGKLUBEG Q DH VGED D<F_FBEG ^RD

?= 2*&,4,)*9 7'&06'S 'KI .ICMI= 'CFD Q DUBVCIEBLK= +I TBKFRCI D<TIdGHI DK -RDKG<'BCD< :fjj@Xfgp@>= %WBD;GS #DCWBEBG ;D 3RYHBEIEBGKD< ;D HI 8KBWDC<B;I;S fggsS 3\V<= f?Xfp=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h@j

TCG;RED HI TCGTBI EGKFDUTHIEBLK ;D HI GYCI ;D ICFD= *<FG< FCD< BUTRH<G< Y\<BEG< ;DHEGHDEEBGKB<UG UG;DCKG DKERDKFCIK ERUTHB;G DEG DK HI EGHDEFBWB;I; D<TIdGHI CD<BX;DKFD DK HI EBR;I;S ;D NGCUI FIH ^RD HI TG<D<BLK ;D TBDbI< ;D HI D<ERDHI TDKBK<RHIC <DEGKWBCFBL DK RKI NGCUI ;D ;B<FIKEBIUBDKFG ;D GFCI< EGHDEFBWB;I;D< Q ;D B;DKFBNBEIEBLKEGK HI TCGTBIS ITICFD ;D RK D<FIK;ICFD ;D HG< KRDWG< a\YBFG< YRCVRD<D< I;^RBCB;G<EGK <R KRDWG D<FI;G DEGKLUBEG=

';DU\< HI< UB<UI< <D;D< <GEBIHD< ;D HI< EGHDEFBWB;I;D< I<DKFI;I< DK HI EBR;I;<BKFBDCGK HI KDED<B;I; G DH THIEDC ;D ;DEGCIC <R< <IHGKD< EGK GYCI< TCGED;DKFD< ;D HITCG;REEBLK KIEBGKIH= ,G aDUG< DKEGKFCI;G DK KBKVRKI ;D HI< TGFDKFD< <GEBD;I;D<CDVBGKIHD< G KIEBGKIHD< ;D -RDKG< 'BCD< TBDbI< ^RD IFD<FBVuDK EBDCFG BKFDC_< aIEBI HITH\<FBEI ICVDKFBKIS EDKFC\K;G<D ;D UIKDCI DcEHR<BWI DK HG D<TIdGH= +I NBHG<GNMI EGHDEXEBGKB<FI ;D FIHD< BK<FBFREBGKD< TCD<DKFI HI <BKVRHICB;I; ;D EDKFCIC<D DK HG TCBWIFBWG ;D<R CDVBLK5 CDFIbG< EG<FRUYCB<FI< ;D HI< FBDCCI< VIHHDVI< DK DH 0DKFCG 7IHHDVGS EI<DCMG<Q WB<FI< ;D #IK #DYI<FB\K DK DH +IRCIn -IFS aLCCDG< Q TIKDCI< DK DH 0DKFCG '<FRCBIKGG FDUI< ;D VBFIKI< Q UIZG< DK DH 0MCERHG 'K;IHRb= %FCI ;D HI< BKWICBIKFD< ;D FIHD<GCVIKB<UG< WBKERHI;G< I HI BKUBVCIEBLK D<TIdGHI DK -RDKG< 'BCD< D< DH VR<FG UICEIX;IUDKFD GCBDKFI;G aIEBI DH TIB<IZD CDVBGKIHS HI D<EDKI ;D EG<FRUYCD< HGEIHD< Q HG<CDFCIFG< ;D TCLEDCD< ;D HI BK<FBFREBLK G ;D HI CDVBLK ;D GCBVDK= +I DcEDTEBLK I HI CDVHIVDKDCIH ;DH EGHDEEBGKB<UG BK<FBFREBGKIH <DCMI DH 0HRY *<TIdGHS EDKFCG ;D _HBFD ;D HIEGHDEFBWB;I; TDKBK<RHIC DK HI EITBFIHS ^RD IEFRL EGUG RK BKWDC<GC <DHDEFBWG ;D GYCI<;D ICFD TCGED;DKFD< ;D ;BNDCDKFD< CDVBGKIHB;I;D<S I HI TIC ^RD HHDWG I HI TC\EFBEI;B<FBKFI< URD<FCI< ;D TBKFRCI TDKBK<RHIC=

3RD;D INBCUIC<D DK ;DNBKBFBWI ^RD HI EGUDCEBIHBbIEBLK Q ;BNR<BLK ;DH ICFD D<TIdGHDK -RDKG< 'BCD< NRD RKI ;D HI< EGK<DERDKEBI< ;BCDEFI< ;DH TCGED<G UBVCIFGCBGS TRD<HI EGHDEFBWB;I; D<TIdGHI DK HI EITBFIH ;DH 3HIFI NRD IH FBDUTG EHBDKFD Q WIHD;GCI ;D HID<ERDHI TBEFLCBEI TDKBK<RHIC= *K D<FD FCIYIZG <D BKFDKFI ;D<WDHIC HI< BUYCBEIEBGKD<DKFCD HI TCG;REEBLK ICFM<FBEI Q HI DUBVCIEBLKS EGUG GFCI ;D HI< NIEDFI< ;D BKFDCEIUYBGERHFRCIH URFRG ^RD TCG;RZG HI UI<BWI TICFB;I ;D D<TIdGHD< aIEMI RHFCIUIC=

"""= *+ 3",$%& *#3'P%+ 2*&,',)% 4+O'&*9 )* #%$%.'1%&*, 0!"+*p

+I NRDCbI ;DH ;D<FBKG HHDWL IH ZGWDK ICFB<FI I FBDCCI< <R;IUDCBEIKI<= *K 0aBHD :fg@jXfgfA> EGK<BVRBL DH CDEGKGEBUBDKFG Q WIHGCIEBLK TICI EGK DH GHWB;I;G ICFD D<TIdGH= +IERHFRCI EaBHDKI NRD ;RCIKFD HI <DVRK;I UBFI; ;DH <BVHG `"` X^RBb\ EGUG RKI CDIEEBLKDK EGKFCI ;D HI TDKMK<RHI ;D<TR_< ;D FIKFG< IdG< ;D WB;I EGHGKBIHX U\< TDCUDIYHD IHI NI<EBKIKFD ERHFRCI NCIKED<I= +I HIYGC ;GEDKFD ;DH ICFB<FI NDCCGHIKG DK FBDCCI< EaBHDXKI< FRWG VCIK BUTGCFIKEBIS TGC^RDS I;DU\< ;D ;D<TDCFIC DH BKFDC_< TGC HI TBKFRCID<TIdGHIS <R< DK<DdIKbI< ;DZICGK TCGNRK;I aRDHHI DK RK VCRTG ;D TBKFGCD< EaBHDKG<^RD aGQ <D EGKGEDK EGUG [7DKDCIEBLK ;DH 0DKFDKICBG] G [7DKDCIEBLK ;DH $CDED]=

p= 9'.%&',% 3/&*9S 3D;CG *UBHBG= *H TBKFGC 2= 4HWICDb ;D #GFGUIQGC Q <R aRDHHI DK'U_CBEI= +I 0GCRdIS #DCWBEBG ;D 3RYHBEIEBGKD< ;D HI 8KBWDC<B;I;S fgghS 3\V<= ?fX??=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h@g

';DU\< ;DH ITG<FGHI;G TD;IVLVBEG ^RD DH TBKFGC VIHHDVG CDIHBbL DK 0aBHDS EGUGTCGND<GC ;D 0GHGCB;G Q 0GUTG<BEBLK QS TG<FDCBGCUDKFDS EGUG )BCDEFGC ;D HI *<ERDHI;D -DHHI< 'CFD< ;D #IKFBIVG ;D 0aBHDS HD ERTG RK TITDH BUTGCFIKFD EGUG VD<FGC ;D HIB;DI Q TCBKEBTIH GCVIKBbI;GC ;D RKG ;D HG< U\< <BVKBNBEIFBWG< IEGKFDEBUBDKFG< ICFM<FBXEG< GERCCB;G< IHVRKI WDb DK FBDCCI< EaBHDKI<S EGUG NRD HI VCIK *cTG<BEBLK "KFDCKIEBGXKIH ;D -DHHI< 'CFD< EGK ^RD <D ;BG YCBHHG Q CDIHED I HI< EDHDYCIEBGKD< ;DH 3CBUDC0DKFDKICBG ;D WB;I BK;DTDK;BDKFD ;D HI &DTkYHBEI ;D 0aBHDS IEIDEB;G DK fgf@=

*K 0aBHD <D aIYHI ;D HI _TGEI ;D #GFGUIQGCS <DdIHIK;G EGK DHHG RK BUTGCFIKFDTDCMG;G ;D HI TH\<FBEI KIEBGKIHS DK ;GK;D HI TBKFRCI ;DH TIM< <R;IUDCBEIKG <D WBGBKNHRDKEBI;I TGC DH ICFD ;D HI .I;CD 3IFCBI= +I 7DKDCIEBLK ;D TBKFGCD< ;DH 0DKFDKIXCBGS HHIUI;I I<M TGC EGBKEB;BC <R IEFBWB;I; ICFM<FBEI EGK HI EDHDYCIEBLK ;D HG< TCBUDCG<EBDK IdG< ;D WB;I BK;DTDK;BDKFDS D< DH TCBUDC VCRTG RKB;G EGaDCDKFD ^RD ITICDED DKHI TBKFRCI EaBHDKI= #R ICFD CDTCD<DKFL IKaDHG< ;D HI U\< VDKRBKI CIBVIUYCD aB<T\KBEI=*HHG <D FCI;RZG DK KRDWI< TCDGERTIEBGKD< ;D HG< TBKFGCD< EaBHDKG<S DK DKNG^RD<FDU\FBEG< ;BNDCDKFD<S DK RKI CDKGWIEBLK DK DH EGHGCB;GS HI EGUTG<BEBLK Q HI F_EKBEISDK RK CD<TDFG TGC DH GNBEBG Q <GYCD FG;GS DK KRDWI< NRDKFD< ;D BK<TBCIEBLK= *KFCIK IHG< FIHHDCD< ;D HG< TBKFGCD< KIFBWG< HG< KGUYCD< BKUGCFIHD< ;D 7GQIS ODH\b^RDb Q.RCBHHGS DKFCD GFCG< ;D HI DcFDK<I VIHDCMI ;D UID<FCG< D<TIdGHD<=

+I TBKFRCI EaBHDKI CDTRYHBEIKI aI <B;G EI<B DK FG;I <R aB<FGCBI TCGEHBWD IH BKNHRZGNCIKE_<= 3GC DHHG HI _TGEI ;D #GFGUIQGC EGK<FBFRQD RKI <RDCFD ;D TIC_KFD<B< ;D aB<TIXKB<UGS ^RD WI ;D<;D HI HHDVI;I ;DH TBKFGCS aI<FI HI BCCRTEBLK ;DH VCRTG .GKFTICKI<<DDK fg?@S ICFB<FI< _<FG< ^RD TGKDK ;D UG;I KRDWIUDKFD DK 0aBHD HI FCI;BEBLK ICFM<FBEINCIKED<I= 3GC D<FI< CIbGKD<S I;DU\< ;DH BKERD<FBGKI;G U_CBFG D<F_FBEG ;D <R TCG;REXEBLK TBEFLCBEIS HI [7DKDCIEBLK ;DH 0DKFDKICBG] CDTCD<DKFI RKG ;D HG< aBFG< U\< <BVKBXNBEIFBWG< ;D HI TBKFRCI KIEBGKIH=

"O= '&$"#$'# '.*&"0',%# *, *#3'P' 1 *#3'P%+*# *, './&"0'h

)D<;D EGUBDKbG< ;D HI TCD<DKFD EDKFRCBI D< EHICIUDKFD TDCEDTFBYHD RK KGFIYHDBKECDUDKFG D BKFDK<BNBEIEBLK DK HG< EGKFIEFG< Q CDHIEBGKD< DKFCD ICFB<FI< D<TIdGHD< QIUDCBEIKG<= /<FG< vTBKFGCD< Q DK UDKGC UD;B;I D<ERHFGCD<v WBIZIK I *<TIdI YDEIX;G< TGC HG< VGYBDCKG< ;D HI< TCGWBKEBI< Q GFCI< DKFB;I;D< GNBEBIHD< ;D <R< CD<TDEFBWG<TIM<D<S EGK DH NBK ;D EGUTHDFIC <R NGCUIEBLK Q DKFCIC DK EGKGEBUBDKFG EGK HI< TCBUDXCI< FDK;DKEBI< DRCGTDI< ;D WIKVRIC;BI vTG<FBUTCD<BGKB<UGS Q IHVG U\< FIC;D ERYB<XUGS NIRWB<UG Q NRFRCB<UG NRK;IUDKFIHUDKFDv= )D<;D KRD<FCG TIM< vDK DH ^RD NBZIYIKKGCUIHUDKFD <R CD<B;DKEBIvS <GHMIK I<BUB<UG WB<BFIC Q TI<IC IHVRKG< UD<D< DK 3ICM<vNGEG ;D IFCIEEBLK TCDNDCDKFDvS I<M EGUG DK HI< TCBKEBTIHD< EBR;I;D< UGKRUDKFIHD<;D "FIHBI :&GUIS 2HGCDKEBIS ODKDEBI===>

h= -&'#'# *7")%S eG<_ 0ICHG<= [,GFI< <GYCD HI IEFBWB;I; ;D ICFB<FI< IUDCBEIKG< Q ;D D<TIX

dGHD< DK 'U_CBEI DK DH TCBUDC FDCEBG ;DH <BVHG ``]= *K5 'EFI< ;DH O #BUTG<BG !B<TIKGX3GCFRXVR_< ;D !B<FGCBI ;DH 'CFD5 &DHIEBGKD< ICFM<FBEI< DKFCD HI 3DKMK<RHI "Y_CBEI Q 'U_CBEI= OIHHI;GHB;SfgjgS 3\V= hs=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hf@

'HVRKG< ;D D<FG< ZLWDKD< ICFB<FI< <D UIFCBERHICGK DK .I;CB; DK HG< ERC<G< ;D HI*<ERDHI ;D -DHHI< 'CFD< ;D #IK 2DCKIK;GS I<B<FBDK;G I HI< EHI<D< ;D HG< U\< CDHDWIKFD<TBKFGCD< ;DH UGUDKFGS EGUG &GUDCG ;D $GCCD<S .GCDKG 0ICYGKDCG G #GCGHHI5 GFCG<S<D WBKERHIK I HG< FIHHDCD< TICFBERHICD< ;D UID<FCG< KG UDKG< TCD<FBVBG<G<S EGUG *;RIC;G0aBEaICCG DKFCD HG< TBKFGCD<S Q .ICBIKG -DKHHBRCD G OBEFGCBG .IEaG DKFCD HG< D<ERHFGXCD<=

+I UIQGCMI ;D D<FG< TDK<BGKI;G< HHDVIK I KRD<FCG TIM< IFCIM;G< TGC DH IRVD ^RDEGKGED DH ICFD D<TIdGH vHI TBKFRCI <GYCD FG;Gv DK HG< TCBUDCG< ;DEDKBG< ;D <BVHGSUDCED; I HI TCGQDEEBLK BKFDCKIEBGKIH vQ <GYCD FG;G IUDCBEIKIv ^RD EGK<BVRDKKGUYCD< QI EGK<IVCI;G< EGUG #GCGHHIS 9RHGIVIS &GUDCG ;D $GCCD<S &DVGQG<S DFE=#BDUTCD YBDK IEGVB;G< Q DK<DVRB;I THDKIUDKFD BK<FIHI;G< DK DH IUYBDKFD ICFM<FBEGUI;CBHDdGS TICFBEBTIC\K DK FDCFRHBI< Q EDK\ERHG<S WBIZIC\K TGC FG;I KRD<FCI VDGVCINMIDK YR<EI ;D TIB<IZD< Q UGFBWG< TBKFGCD<EG<S Q EGKERCCBC\K I DcTG<BEBGKD< Q EDCF\UDXKD<S DKFCD DHHI< I HI< ,IEBGKIHD< ;D -DHHI< 'CFD<=

'RK^RD IH aIEDC DH ELUTRFG ;D D<FG< ICFB<FI< IWDEBK;I;G< DK *<TIdIS HG< aIHHIUG<TC\EFBEIUDKFD ;D FG;G< HG< \UYBFG< ;D "YDCGIU_CBEIS <DC\K <BK DUYICVG HG< RCRVRIXQG<S EGHGUYBIKG<S ERYIKG<S UDZBEIKG< Q ICVDKFBKG< HG< ^RD ERDKFDK EGK UIQGC CDTCDX<DKFIEBLK=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hff

0'36$8+% )*0".%08'&$%O*&$"*,$*# 7*%./$&"0'# *, *+ '&$*

+'$",%'.*&"0',%

f= e%'q86, $%&&*# 7'&06'S 3&*08&#%& )*+ 0%,#$&80$"O"#.%'.*&"0',%

+I< ICFD< TH\<FBEI< DK DH EGKG <RC I TICFBC ;D UD;BI;G< ;D HG< IdG< FCDBKFI Q DK D<TDEBIHI TICFBC ;D HG< ERICDKFIS D<FRWG UICEI;G TGC HI IEFRIEBLK ;DEB<BWIS DK DH THIKG FDLCBEG QTH\<FBEGS ;DH RCRVRIQG eGI^RMK $GCCD< 7ICEMIS HRDVG ;D <R CDVCD<G ;D<;D *RCGTI DK fgph=0GK D<FD ICFB<FI EGUDKbL DH INBIKbIUBDKFG ;DH 0GK<FCREFBWB<UGS FDK;DKEBI ^RD HHDVL IFDKDC aGK;I CDTDCER<BLK DK DH ICFD CBGTHIFDK<DS TCBUDCGS Q HRDVG DK DH CD<FG ;DH EGKFBKDKFD=

+I FCIQDEFGCBI ;D $GCCD< 7ICEMI D<F\ <BVKI;I TGC <R NGCUIEBLK DK *RCGTI Q <R;BHIFI;I FCIQDEFGCBI DK D<D EGKFBKDKFD= 2RD DK HI HGEIHB;I; EIFIHIKI ;D .IFICL ;GK;DCDEBYBL <R< TCBUDCI< HDEEBGKD< ;D TBKFRCI Q ;BYRZG EGK eG<DT OBKIC;DHH DK HI *<ERDHI;D 'CFD< Q %NBEBG<= 3I<L I -ICEDHGKI DK fjg? ;GK;D <D TDCNDEEBGKL DK HI 'EI;DUBI;D -DHHI< 'CFD< ZRKFG I 'KFGKBG 0IYI= "K<TBC\K;G<D DK HI D<F_FBEI ;D 3RWB< ;D 0aIXWIKKD<S CDIHBbL DK fg@j WICBI< TBKFRCI< URCIHD< DK -ICEDHGKIS ;D<FIEIK;G HI< ;DH'QRKFIUBDKFGS HI BVHD<BI ;D HI )BWBKI 3I<FGCI DK #ICCB‘ Q HG< HBDKbG< TICI HI EITBHHI ;DH#IKFM<BUG #IECIUDKFG ;D HI BVHD<BI ;D #IK 'VR<FMK= *K fgfj $GCCD< 7ICEMI NGCUL TICFD;DH VCRTG 0GRCYDF ZRKFG I HG< ICFB<FI< 2CIKED<E )GUBKVGS eG<DT +HGCDK<X'CFBVI<S eGIK.BCLS *KCBE &BEICF Q &INIDH #IHI= )G< IdG< ;D<TR_< TICFBL EGK ;D<FBKG I 3ICM< Q I,RDWI 1GCnS EBR;I; _<FI ;GK;D TDCUIKDEBL aI<FI fg?? DK ^RD TI<L I "FIHBI= ' TICFBC;D fg?i <D BK<FIHL DK 3ICM< ;GK;D <R ICFD EGUDKbL I DcTDCBUDKFIC EIUYBG< ;DEB<BWG<SFCIYIZIK;G <GYCD D<FCREFRCI< EGK<FCREFBWB<FI< D BKEGCTGCIK;G HDKVRIZD< ;D <BVKG<SFCI< HG ERIH <D TCG;RZG <R CDVCD<G IH 8CRVRIQ DK fgph=

'H IdG ;D CDFGCKIC I .GKFDWB;DG TCGED;DKFD ;D *RCGTIS NRK;L HI '<GEBIEBLK ;D 'CFD0GK<FCREFBWG :fgpA> ;DKFCG ;D HI ̂ RD ;D<ICCGHHL RKI FICDI TD;IVLVBEI ̂ RD FRWG EGKFBKRBX;I; DK DH $IHHDC $GCCD< 7ICEMI :fghp>= *K I^RDHHG< IdG< TCDEGKBbL HI FDGCMI ;DH 8KBWDC<IHB<XUG 0GK<FCREFBWGS UD;BIKFD HI ERIH TCGTGKMI HI ECDIEBLK ;D RK ICFD IUDCBEIKG ;D WBVDKEBIRKBWDC<IH= )D ;D<FIEI;I HIYGC TD;IVLVBEIS DH RCRVRIQG ;DZL <DKFI;I< HI< YI<D< ;D <R



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hf?

e%'q86, $%&&*# 7'&06' :8&878'1>= 0%,#$&800"J, *, -+',0% :fgpf>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hfp

;GEFCBKI DK KRUDCG<I< TRYHBEIEBGKD<= *K DHHI< <DdIHL HI KDED<B;I; ;D RKI EGKZRKEBLKDKFCD HG IKFBVRG Q HG UG;DCKGS I<TDEFG ̂ RD DK HI TC\EFBEI <D FCI;RZG DK RKI EGUYBKIEBLKDKFCD HI< NGCUI< Q ;B<DdG< ;DH ICFD TCDEGHGUYBKG Q HI< F_EKBEI< EGK<FCREFBWB<FI<S THIKFDIKX;G I<M RKI Yk<^RD;IS I FCIW_< ;D HI UG;DCKB;I;S ;D HI IRF_KFBEI FCI;BEBLK IUDCBEIKI=

*K HG ̂ RD CD<TDEFI IH $IHHDC $GCCD< 7ICEMIS <R NRK;IEBLK ;IFI ;D fghp Q <R< IEFBWB;I;D<<D DcFDK;BDCGK aI<FI fgi?= 0GKNGCUI;G BKBEBIHUDKFD TGC HG< ICFB<FI< RCRVRIQG< eRHBG'HTRQS 7GKbIHG 2GK<DEIS 2CIKEB<EG .IFFGS .IKRDH 3IBHL<S eG<_ 7RCWBEaS Q HG< aBZG< ;DHUID<FCGS 'RVR<FG Q !GCIEBG $GCCD<S DH $IHHDC <D EGKWBCFBL DK <BKVRHIC FDCCDKG ;D DcTDCBUDKXFIEBLK TICI DH EGK<FCREFBWB<UG Q HI IY<FCIEEBLKS KG HBUBF\K;G<D HI< ECDIEBGKD< ICFM<FBEI< I HITBKFRCI Q I HI D<ERHFRCI <BKG UG<FCIK;G RKI IUTHBFR; ;D F_EKBEI< ^RD BKEHRQDCGK HG<FDcFBHD<S HI EDC\UBEIS HG< URDYHD< Q HG< ;B<DdG< IC^RBFDEFLKBEG<=

+I aRDHHI ;D eGI^RMK $GCCD< 7ICEMI <D TIFDKFBbICMI FIUYB_K DK HG< IdG< h@ DK HG<BKBEBG< ;DH 'CFD 0GKECDFG HIFBKGIUDCBEIKGS ^RD FIUYB_K ;DYD <R <RCVBUBDKFG IH <RBbG.Ic -BHH ^RBDK IHDKFL RK TCGED<G ;D RKBLK ;D ;B<FBKFI< UIKBND<FIEBGKD< ICFM<FBEI< DKRK FG;G BKFDVCIH= *K 'CVDKFBKI <RCVBDCGK VCRTG< EGUG HI '<GEBIEBLK 'CFD 0GKECDFGX

!/0$%& &'7," :8&878'1>= 3'"#'e* )* .%,$*O")*% =

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hfh

"KWDKEBLK :fghi>S .I;B :fghi> Q DH 3DCEDTFB<UG :fghs> ^RD UREaG ;DYDK I FIH BKNHRX ZG= *K -CI<BH <D NGCUICGK HG< VCRTG< &RTFRCI :fgA@> Q 2CDKFD :fgAp>l ;D _<FD kHFBUG<D ;D<TCDK;DCMIK ICFB<FI< EGUG +QVBI 0HICn ^RDS ZRKFG I !_HBG %BFBEBEI Q 'UMHEIC ;D0I<FCGS DKFCD GFCG<S NRK;ICMIK DH ,DGEGKECDFB<UG :fgAg>=

8KI WMI ;D TCGHGKVIEBLK ;DH 0GK<FCREFBWB<UG <DC\ HI 'Y<FCIEEBLK 7DGU_FCBEIS ;DKXFCG ;D HI ERIH <GYCD<IHDK WDCFBDKFD< EGUG DH 'CFD 0BK_FBEGS ERQG< U\cBUG< DcTGKDKFD<<GK HG< WDKDbGHIKG< 'HDZIK;CG %FDCGS eD<k< &INIDH #GFG Q 0ICHG< 0CRbX)MDbS Q DH ICVDKXFBKG eRHBG +D 3ICES Q DH UGWBUBDKFG ;D 'CFD 7DKDCIFBWG :fgi@> HB;DCI;G DK HI 'CVDKFBKITGC *;RIC;G .IE *KFQCD Q .BVRDH 4KVDH OB;IH= .BDKFCI< I^RDHHG< TDC<DVRMIK I FCIW_<;D TBKFRCI< Q EGK<FCREEBGKD< HI Yk<^RD;I ;DH UGWBUBDKFG LTFBEG Q HI< <DK<IEBGKD< ;DWBYCIEBLK DK ;GK;D DH D<TDEFI;GC ZRDVI RK TITDH NRK;IUDKFIHS HG< [VDKDCIFBWG<] HGVCIXYIK EGK DH UGWBUBDKFG Q HI EGKWDCVDKEBI ;D HMKDI< EBCERHICD<S aGCBbGKFIHD< Q WDCFBEIHD<SGCBVBKIC <DERDKEBI< LTFBEI< Q DNDEFG< ;D KGFIYHD ;BKIUB<UG= *K UREaG< ;D HG< ICFB<FI<;D D<I VDKDCIEBLK <RYQIED EGUG BKFDKEBGKIHB;I; HI EGK<FCREEBLK ;D RK URK;G KRDWG<GYCD HI< CRBKI< ;DH ^RD aIYMI <B;G ;D<FCRB;G TGC HI VRDCCIS GCBDKFIK;G <R< UBCI;I<S I;BNDCDKEBI ;D $GCCD< 7ICEMIS I HI< UIKBND<FIEBGKD< ICFM<FBEI< ;D *<FI;G< 8KB;G< U\< ̂ RDI HI< DRCGTDI<= %FCG< ICFB<FI< <GYCD<IHBDKFD< ;DKFCG ;D HI 'Y<FCIEEBLK 7DGU_FCBEI <DCMIKHG< EGHGUYBIKG< *;VIC ,DVCDF Q *;RIC;G &IUMCDb OBHHIUBbIC ̂ RBDKD< I;GTFICGK DK <R<GYCI< D<ERHFLCBEI< KRDWI< FDEKGHGVMI< IH D<FIYHDEDC<D DK *<FI;G< 8KB;G<S EGUG DH R<G;DH IHRUBKBG Q GFCG< UDFIHD< DK DH EI<G ;DH TCBUDCG= *K TBKFRCI TRD;DK EBFIC<D HG<KGUYCD< ;DH YCI<BHDdG 'HNCD;G OGHTBS DH TDCRIKG 2DCKIK;G ;D #bQ<bHGS DH UDcBEIKG7RKFaDC 7DC<bGS DH ERYIKG .ICBG 0ICCDdGS ;D HICVI FCIQDEFGCBI DK 0aBHDS Q HG< ICVDKFBXKG< 'CQ -CBbbB Q &GVDHBG 3GHD<DHHG=

?= O',78'&)"'# 7*%./$&"0'# )* +%# 'P%# 08'&*,$'*, '&7*,$",'

+I ;_EI;I ;D HG< ERICDKFI <BVKBNBEL DK 'CVDKFBKI RK UGUDKFG ;D TCGNRK;G< EIUXYBG< DK HI< D<FCREFRCI< <GEBIHD< EGK DH ECDEBDKFD ;D<ICCGHHG ;D HG< <DEFGCD< TGTRHICD< QDH FCBRKNG ;DH C_VBUDK TDCGKB<FI= 'H YBDKD<FIC DEGKLUBEGS <BVRBL DH ECDEBUBDKFG ;D HITD^RDdI Q UD;BIKI BK;R<FCBIS UBDKFCI< ^RD HI TG<FRCI ;D HI EHI<D BKFDHDEFRIH I<RUBLRK EIC\EFDC ECMFBEG= )D<;D DH TRKFG ;D WB<FI D<F_FBEG <D TCG;RZG RKI TCGNRK;I CDKGWIXEBLK I<GEBI;I IH ICFD EGKECDFGS F_CUBKG ^RD ;D<BVKL IH ICFD IY<FCIEFG <RCVB;G DK fgp@DK *RCGTIS ^RD NRD DUTHDI;G TGC DH aGHIK;_< $aDG OIK )GD<YRCVS Q CDFGUI;G U\<I;DHIKFD TGC DH <RBbG .Ic -BHH= *H VCRTG 'Y<FCIEFBGKX0CDIFBGK ;D<ICCGHHL <R IEEBLKDKFCD fgpfXfgpiS <BDK;G IHVRKI< ;D <R< TCDGERTIEBGKD< HI UB<BLK <GEBIH ;DH ICFDS HICDEDTFBWB;I; ;DH TkYHBEG Q HI< DcBVDKEBI< ECDEBDKFD< ;D HI KRDWI <GEBD;I; FDEKGHLVBXEIl D<FG< ICFB<FI< RKBDCGK DH DUTHDG ;D KRDWG< UIFDCBIHD< I EGKEDTFG< UIFDU\FBEG< |CBFUG<S CDHIEBGKD<S Q HDQD<X TICI NRK;IUDKFIC <R< GYCI<= +I ITICBEBLK ;DH VCRTG ;DICFB<FI< EGKECDFG< NRD RKI ECDIEBLK ;DH [D<TMCBFR ;DH FBDUTG] ^RD FRWG EGK I^RDHUGWBUBDKFG DRCGTDG RK EIC\EFDC CDHIFBWIUDKFD <BKECLKBEG= *H kKBEG KkUDCG TRYHBEIX;G ;D HI CDWB<FI 'CFRCG= &DWB<FI ;D 'CFD< 'Y<FCIEFI< S DK fghhS EGKEBFL HI< BK^RBDFR;D<TH\<FBEI< Q HBFDCICBI<S <BDK;G EHIWD DK ERIKFG I HI TCGTRD<FI ;D [KG EGTBICS KG CDTCGX;REBCS BKWDKFIC]=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hfA

e8+"% '+381 :8&878'1>= +' $"*&&' :fgip>=

718+' o%#"0* :'&7*,$",'>= &%1" ,ƒ ? :fghh>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hfi

$GU\< .IH;GKI;G NRD DH FDLCBEG U\< ;D<FIEI;G ;DH UGWBUBDKFG 'CFD 0GKECDFG"KWDKEBLKS BKFDVCI;G DKFCD GFCG< TGC +B;Q 3CIFBS *KBG "GUUBS &IkH +GbbI Q 0HIR;BG7BCGHI= *H VCRTG EGUDKbL I CDRKBC<D DK fghA DK CD<B;DKEBI< TICFBERHICD< TICI TCD<DKXFIC D<FI< KRDWI< NGCUI< ;D DcTCD<BLKS HI< ^RD UICEICGK RKG ;D HG< U\< ;DEB;B;G<DKERDKFCG< DKFCD ICFD Q EBDKEBI= *K fghi HI '<GEBIEBLK 'CFD 0GKECDFG "KWDKEBLKDcTR<G TGC TCBUDCI WDb TkYHBEIUDKFD DK DH #IHLK 3DR<DCS ;BNRK;B_K;G<D I<BUB<UG DH.IKBNBD<FG "KWDKEBGKB<FI S ^RD INBCUL ^RD [HI DCI ICFM<FBEI ;D HI NBEEBLK CDTCD<DKFIFBWIFGEI I <R NBK]= +I '<GEBIEBLK <D ;B<GHWBL DK fghj IH DUTCDK;DC .IH;GKI;G <R TCBUDCWBIZD I *RCGTIS QI EGKEDKFCI;G <R BKFDC_< DK HI IC^RBFDEFRCI Q DH ;B<DdG= OICBI< ;_EIX;I< ;D<TR_< "GUUB INBCUICMI ^RD [DH VCRTG 0GKECDFG FRWG HI WB<BLK5 HI BUIVDK ;D RKERI;CI;GS RK THIKGS RK EGHGCS HMKDI< TRD<FI< DK DH EIUTG D<TIEBIH ;D RKI FDHIS FG;G<D<FG< DHDUDKFG< NHGFIK;G DK DH THIKG= 3GC^RD HI BKWDKEBLK DCI DH CD<RHFI;G ;D FIHD<TCGYHDUI<]= .IH;GKI;G <D BK<FIHICMI DK fgAh DK 'HDUIKBIS BKWBFI;G TGC .Ic -BHHS;D<DUTDd\K;G<D EGUG TCGND<GC ;D HI *<ERDHI ;D )B<DdG ;D 8HU= *K fgsf <D CI;BELDK "FIHBI DK<DdIK;G DK HI 2IERHFI; ;D 'C^RBFDEFRCI ;DH 3GHBF_EKBEG ;D .BH\K=

%FCG ;D HG< VCRTG< ICVDKFBKG<S .I;BS CDIHBbL <R TCBUDCI DcTG<BEBLK DK fghi DK DH"K<FBFRFG 2CIKE_< ;D *<FR;BG< #RTDCBGCD<= #D HIKbL DH .IKBNBD<FG .I;M S ^RD DK <R;DEHICIEBLK ;D TCBKEBTBG<S I<RUMI HI HR;BEB;I; Q THRCIHB;I; EGUG WIHGCD< DcTCD<BWG<SI<GEBI;G< IH ;BYRZGS HI TBKFRCIS HI D<ERHFRCIS HI IC^RBFDEFRCIS HI Uk<BEIS HI TGD<MIS DHFDIFCGS HI KGWDHIS DH ERDKFG Q HI ;IKbI= 3GEG IKFD<S DK fghAS DH VCRTG aIYMI CDIHBbI;G;G< DcTG<BEBGKD<S HI ;D 'CFEGKECDF "KWDKFBGK Q HI GCVIKBbI;I TGC HI NGFLVCINI 7CDFD#FDCK DK <R EI<IS DK HI< ^RD HG< TICFBEBTIKFD< QI EGUYBKICGK HI< ICFD< WB<RIHD< EGKCDTCD<DKFIEBGKD< UR<BEIHD< Q CDEBFIHD< HBFDCICBG<= *K <R ;DEHICIEBLK ;D TCBKEBTBG<S .I;M EGKNBCUIYI [DH ;D<DG ;DH aGUYCD ;D BKWDKFIC GYZDFG< IH HI;G ;D HI aRUIKB;I; HREaIKX;G TGC RKI <GEBD;I; <BK EHI<D< ^RD HBYDCI HI DKDCVMI Q ;GUBKI DH D<TIEBG Q DH FBDUTGDK FG;G< HG< <DKFB;G<S Q HI UIFDCBI DK <R< kHFBUI< EGK<DERDKEBI<]= *KFCD <R< TICFBEBXTIKFD< EGKFIYIK 7QRHI oG<BEDS 0ICUDHG 'C;DK qRBKS .ICFMK -HI<bnG Q &aG; &GXFaNR<<= oG<BED NRD BKBEBI;GC DK HI 'CVDKFBKI ;D HI< DcTDCBDKEBI< EBK_FBEI<= *K <R GYCI;D<FIEIK HI< EGK<FCREEBGKD< ICFBERHI;I<S EGK DNDEFG< HRUMKBEG< Q RKI EHICI FDK;DKEBIIH UGWBUBDKFGS DK HI< ^RD BKEGCTGCI FRYG< ;D HRb NHRGCD<EDKFD Q EaGCCG< ;D IVRI=.I;BS IH BVRIH ^RD HI '<GEBIEBLK 'CFD 0GKECDFG "KWDKEBLKS <D NRDCGK D<EBK;BDK;G DKNGCUI VCI;RIH=

*K fghs &IkH +GbbI TG<FRHL DH 3DCEDTFB<UG D<FR;BIK;G DH FDUI ;D HI NRKEBLKEGTHIKICBI ^RD <D ;IYI DKFCD HI TBKFRCI Q DH EGKFDcFG D<TIEBIH ^RD HI EGKFDKMIS ;IK;GIH URCG DH WIHGC ;D NGK;G ;D HI GYCI Q THI<U\K;G<D IaGCI HI CDIHB;I; DK DH THIKGEGHGC= )D D<FD UG;G NRDCGK FCIFI;I< KRDWI< TCGYHDU\FBEI< EGUG HI CDHIEBLK ;D DHDXUDKFG<S EGHGCD<S NGCUI< Q HMKDI< CDVB;I< TGC KGCUI< UIFDU\FBEI< Q DH UICEG CDEGCFI;G;D EGKFGCKG BCCDVRHICS ^RD IYIK;GKI DH FCI;BEBGKIH ERI;CG <RCVB;G DK DH &DKIEBUBDKXFG EGUG WDKFIKI IYBDCFI IH URK;G= +I DcTDCBDKEBI ;D +GbbI CDTCD<DKFL RKI ;D HI<TG<FRCI< U\< CI;BEIHD< ;DH ICFD EGKECDFG=

'H CDEGK<FCRBC HI< DcTDCBDKEBI< ;D ICFB<FI< EGK<FCREFBWG< Q EGKECDFG<S KRD<FCG< CDIXHBbI;GCD< ITGCFICGK KRDWG< DHDUDKFG< EGUG HI< D<FCREFRCI< EGTHIKICBI< Q HI TBKFRCID<ERHFRCI ICFBERHI;I= *<FD ICFD BKEBFIYI I HI BKWDKEBLKS DCI RK ICFD TCD<DKFIFBWGS ^RD <D;DEHICL EGKFCICBG I HI [KDNI<FI TGHBHHI DcB<FDKEBIHB<FI G CGU\KFBEI]= +I< GYCI< EGKECDXFI<S IRK^RD TCGTBEBIYIK RK ICFD EGHDEFBWGS RK ICFD RKBWDC<IHS ;BCBVB;G EGKFCI HI< _HBFD<S



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hfs

&!%) &%$!28## :8&878'1>= #", $6$8+% :fghi>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hfj

KG NRDCGK EGUTCDK;B;I< DK DH IUYBDKFD HGEIH Q DKEGKFCICGK NRDCFD CD<B<FDKEBI DK DHTkYHBEG= .BDKFCI< HG< ICFB<FI< CDKGWI;GCD< <D ;DEHICICGK TCGWDKBDKFD< ;D HI< FDK;DKXEBI< U\< TCGVCD<B<FI< ;DH ICFD DRCGTDG Q IUDCBEIKGS TCGERCIK;G CDEGK<FCRBC RK URK;GKRDWGS HI ECMFBEI GNBEBIH HD< IER<L ;D <DVRBC RKI FDK;DKEBI [UGCYG<I Q TDCWDC<I] Q ;DCDIHBbIC RKI TBKFRCI ;D;BEI;I I EMCERHG< EDCCI;G< ;D BKBEBI;G<S EICIEFDCBb\K;GHG< EGUG<KGY<= .BDKFCI< FIKFG QI EGUDKbIYI I ;DYIFBC<D DK HI TCDK<I DH <RCVBUBDKFG ;D RKKRDWG ICFD=

3GC <R FCIQDEFGCBI DK HI 'CVDKFBKI TDCG NRK;IUDKFIHUDKFD TGC <R BKNHRDKEBI DK DHICFD DRCGTDG DK VDKDCIH D BFIHBIKG DK TICFBERHICS KG ;DYD <G<HIQIC<D HI NBVRCI ;D +REBG2GKFIKIS GCBVBKICBG ;D HI EBR;I; ;D &G<ICBG= $CI< <R TCBUDCI DcTDCBDKEBI DRCGTDI DKHI ^RD DcTDCBUDKFL HI IY<FCIEEBLK Q DH NRFRCB<UGS CDFGCKL I <R TIM< DK fgpg= *K fghiHIKbL DH .IKBNBD<FG -HIKEGS YI<D TICI <R< NRFRCI< BKWD<FBVIEBGKD< [D<TIEBIHB<FI<]= *Kfghs <D CI;BEL DK .BH\K ;GK;D CD;IEFL DH TCBUDC .IKBNBD<FG *<TIEBIH XHG< <BVRBDKFD<NRDCGK DK fghgS fgA@ Q fgAfX= *ZDERFL [D<ERHFRCI< D<TIEBIHD<]S BKBEBL DH BKNGCUIHB<UGUIF_CBEG D BKEGCTGCL I <R< GYCI< TBD;CI<S WB;CBG< EGHGCDI;G< Q GFCG< DHDUDKFG<= *KFCDfgAf Q fgAp CDIHBbL TBKFRCI< EGK [IVRZDCG<] Q <R< TCBUDCI< IUYBDKFIEBGKD< D<TIEBIXHD< BHRUBKI;I< EGK HRb KDVCI=

p= +' '-#$&'00"J, 7*%./$&"0' *, *+ -&'#"+ )* +%#'P%# 0",08*,$'

!IEBI UD;BI;G< ;D <BVHGS DH ICFD FGUL RK KGFIYHD BUTRH<G DK DH -CI<BH= .REaGFRWBDCGK ^RD WDC DK DHHG HI ITDCFRCIS DK fghsS ;DH .R<DG ;D 'CFD ;D #…G 3IRHG:.'#3> QS IH IdG <BVRBDKFDS ;D HG< .R<DG< ;D 'CFD .G;DCKG ;D D<I EBR;I; Q ;D &MG;D eIKDBCGS NRK;IUDKFIHD< FG;G< DK HI HIYGC TD;IVLVBEI EGK<B<FDKFD DK aIEDC U\<EGUTCDK<BYHD HI< FDK;DKEBI< U\< IWIKbI;I< ;DH ICFD BKFDCKIEBGKIH= +I EGKECDEBLK ;DHI " -BDKIH ;D #…G 3IRHG :fgAf> Q <R< <RED<BWI< D;BEBGKD< CD;RK;IC\ IRK U\< YDKDNBXEBG< TICI DH \UYBFG ICFM<FBEG= 2RD _<FD DH UGUDKFG DK DH ^RD HI 'Y<FCIEEBLK 7DGU_FCBXEI IHEIKbL RKI EGK<GHB;IEBLK BKD<TDCI;IS VCIEBI= "WIK #DCTI Q .ICQ OBDBCI DK &MG ;D eIKDBCGS Q {IH;DUIC 0GC;DBCG :HM;DC ;DHVCRTG &RTFRCIS fgA@>X Q 7DCIH;G ;D -ICCG< DK HI EBR;I; TIRHB<FIS DKFCD GFCG<S <DIYCIbICGK I HI KRDWI FDK;DKEBI=

*H ICFD EGKECDFG WI I ECDEDC DK TCD<DKEBI ;RCIKFD HG< IdG< A@S IEDKFR\K;G<D DKNGCUI TICIHDHI HI ;B<BUBHBFR; DKFCD HI< TCG;REEBGKD< ;D HI< ;G< EITBFIHD< ICFM<FBEI<YCI<BHDdI<= *K #…G 3IRHG <RCVBL DH VCRTG 2CDKFD :fgAp>S TICFBEBTIK;G ;DH UB<UG +QVBI0HICnS 'HRM<BG 0ICW…G Q +QVBI 3ITD DKFCD GFCG<= 0HICn aIYMI D<FR;BI;G DK 3ICM< ZRKFGI 'CTI; #bŠKD< Q 2DCKIK; +_VDC :fgA@XfgA?>S Q FCI< CDVCD<IC I &MG ;D eIKDBCG QI<GEBIC<D I 2CDKFDS ;D<FIEICMI TGC HI CDIHBbIEBLK HI< D<ERHFRCI< ICFBERHI;I< ^RD ;DKGUBXKL -BEaG< :fgi@> Q HG< KRUDCG<G< aITTDKBKV< DK HG< ^RD BKWGHRECL DK <R< GYCI< IRK TkYHBEG KG aIYBFRI;G I D<FI< UIKBND<FIEBGKD<=

+I D<EB<BLK ;DH VCRTG 2CDKFD DK fgAg UICEICMI DH <RCVBUBDKFG ;DH ,DGEGKECDFB<UGYCI<BHDdGS ^RDS THIKFDIK;G HI KDED<B;I; ;D DcTCD<IC DUGFBWB;I;D< ^RD CDYI<ICIK DHTRCG EGKFDKB;G EBDKFMNBEG ;DH ICFD Q HI TICFBEBTIEBLK IEFBWI ;DH D<TDEFI;GCS FRWG <R



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hfg

.'&$6, -+'#9o% :'&7*,$",'>= -+',0% 1 O*&)* :fghs>=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h?@

+17"' 0+'&o :-&'#"+>= -"0!% :fgi@>=

!/+"% %"$"0"0' :-&'#"+>= &%e% 0%&$',)% *+ -+',0% :fgAj>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h?f

URD<FCI BKIRVRCIH DK D<D IdG DK DH .R<DG ;D 'CFD .G;DCKG ;D &MG ;D eIKDBCG=';DU\< ;D 0HICn Q 3ITDS ;D<FIEICGK I^RM !_HBG %BFBEBEIS 'UMHEIC ;D 0I<FCG Q 2CIKb{DB<<UIKKS I;aBCBDK;G TG<FDCBGCUDKFD 0ICW…G Q GFCG< ICFB<FI<= "KFDCD<I;G DK DH 0GK<XFCREFBWB<UGS HG< .DFID<^RDUI< :fgAsXfgAj> ;D %BFBEBEI ITGCFICGK RKI TCGNRK;I CDXNHDcBLK <GYCD DH EGHGC Q DH D<TIEBG DK HI TBKFRCI= *K <R _TGEI KDGEGKECDFB<FI BKBEBLRKI FCIK<BEBLK aIEBI HI FCB;BUDK<BGKIHB;I; I FCIW_< ;D HI< <DCBD< &DHBDWD D<TIEBIH Q,kEHDG = ' TICFBC ;D HG< <D<DKFI <D BKEHBKL TGC HI TICFBEBTIEBLK ;DH D<TDEFI;GC DK HIGYCIS EGUG GERCCBL EGK HG< 3ICIKVGH_ S WD<FB;G< TICI <DC R<I;G< YIBHIK;GS Q GFCI<GYCI< ^RD <IFBCBbIYIK HG< FLTBEG< NGHnHLCBEG< YCI<BHDdG<=

h= *+ '&$* 0",/$"0% *, #8)'./&"0'

!IYBDK;G IKIHBbI;G HI HIYGC TD;IVLVBEI Q ICFM<FBEI ;DH RCRVRIQG eGI^RMK $GCCD<7ICEMI EGUG I<BUB<UG HI aRDHHI ;DH 0GK<FCREFBWB<UG ;RCIKFD HI< ;_EI;I< ;D fgh@ QfgA@S D< UDKD<FDC ;D;BEIC RK ITICFI;G D<TDEBIH IH ICFD EBK_FBEGS UIKBND<FIEBLK ICFM<FBEI^RD IHEIKbL CDTRFI;I TCD<DKEBI Q EGKFCI<FI;I <BKVRHICB;I; DK "YDCGIU_CBEI= "K;R;IXYHDUDKFDS D< CDNDCDKEBI BK<G<HIQIYHD HI GYCI ;D RK EGKZRKFG ;D ICFB<FI< ;D ODKDbRDHISTIM< DK DH ^RD D<FI WDCFBDKFD <D EGK<GHB;L I UD;BI;G< ;D HG< A@S <BDK;G <R< U\cBUI<NBVRCI< 'HDZIK;CG %FDCGS eD<k< &INIDH #GFG Q 0ICHG< 0CRbX)MDb= *<FG< ICFB<FI< HHDWICGKI EIYG GYCI< TBEFLCBEI< Q D<ERHFLCBEI< ERQG BKFDC_< TCBUGC;BIH NRD DH ;D TCGWGEIC DK DHD<TDEFI;GC RKI <DK<IEBLK ;D UGWBUBDKFG Q WBYCIEBLK= %FDCG NRD DH TCDERC<GC EGK <R<0GHGCBFUG< :fgAA>S TBKFRCI< DK HI< ^RDS <GYCD THIKG< ;D EGHGCS ;B<TR<G RKI <DCBD ;DYIK;I< WDCFBEIHD<l QI DK HG< <D<DKFI CDIHBbL UGKRUDKFIHD< D<ERHFRCI< EBK_FBEI< BKFDXVCI;I< IH TIB<IZD= *K DH EI<G ;D #GFGS CD<IHFI <R HDKVRIZD ;D NGCUI< ;B<TRD<FI< <GYCDRK NGK;G ;D ;DHVI;I< HMKDI< TICIHDHI<S TCG;REBDK;G RKI <DK<IEBLK ;D WBYCIEBLK IH;D<THIbIC<D DH D<TDEFI;GC DK FGCKG I HI GYCI= *K <R< 3DKDFCIYHD< DH D<TDEFI;GC BKVCDX<I Q <D BKFDVCI DK HI GYCI= 0CRbX)MDb <D BKEHBKL I WDCBNBEIC HI< TG<BYBHB;I;D< ;DH EGHGCEGUG <D ITCDEBI DK HI< 2B<BECGUMI< ^RD CDIHBbI I TICFBC ;D NBKIHD< ;D HG< EBKERDKFI=

.BDKFCI<S DK 'CVDKFBKIS ;GK;D DH ICFD EGK<FCREFBWG G VDGU_FCBEG aIYMI QI IHEIKbIX;GS EGUG WBUG<S RK ;D<ICCGHHG BKFDK<GS DK HG< IdG< <D<DKFI ;DCBWL aIEBI KRDWI< DcTDXCBUDKFIEBGKD< HBVI;I< I DNDEFG< LTFBEG<S IH UGWBUBDKFG Q HI HRb EGUG RKI BUTCD<BLK;D WIHGC D<F_FBEG= *K FIH <DKFB;GS NRD BUTGCFIKFD HI DcTG<BEBLK ;D HI< GYCI< ;DH akKVIXCG OBEFGC OI<ICDHQ HHDWI;I I EIYG DK fgAj DK DH .R<DG ,IEBGKIH ;D -DHHI< 'CFD< ;D-RDKG< 'BCD<S ;I;G ^RD UREaI< ;D DHHI< UG<FCIYIK <R< DcTDCBUDKFIEBGKD< DK DHEIUTG ;D HI EBK_FBEIS ;DCBWIEBLK ;DH EGK<FCREFBWB<UG ^RD <D BKEHBKIYI I BKFDVCIC DK _HRKI <DK<IEBLK WB<RIH ;D UGWBUBDKFG= *H ICFD EBK_FBEG DK HI 'CVDKFBKI <RCVBL ;D HI<DcTDCBDKEBI< ;DH UDK;GEBKG eRHBG +D 3ICE ^RBDKS YDEI;G DK 3ICM< Q FCI< WBKERHIC<D ;DUIKDCI ;BCDEFI I OI<ICDHQS ECDL DK fgi@ DH 7CGRTD ;D &DEaDCEaD OB<RDH :7&'O>= +IURD<FCI CDIHBbI;I DK fgih DK I^RDH .R<DG FBFRHI;I "KD<FIYBHB;I; ;DUG<FCL DH DUTHDG;D D<FI FDK;DKEBI5 ZRDVG ;D HRED< Q IVRIS YIK;I<S FCIK<TICDKEBI< Q THIEI< ;D UDFIHSHG< ^RD UGWBHBbICGK HI ;BK\UBEI CDHIEBLK DKFCD DH D<TDEFI;GC Q HI GYCI=

)DKFCG ;D HI EGCCBDKFD IY<FCIEFI G EGK<FCREFBWB<FIS 'HDZIK;CG 3RDKFD Q 0_<IC 3IFDCXKG<FG ;D<ICCGHHICGK RK ICFD HBVI;G I HG< TG<FRHI;G< ;D HI FCI;BEBLK EGK<FCREFBWB<FI ;DHRCRVRIQG eGI^RMK $GCCD< 7ICEMIS ^RD NRDCI ;DKGUBKI;I TGC DH ECMFBEG 'H;G 3DHHDVCBKB



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h??

e*#r# &'2'*+ #%$% :O*,*98*+'>= *#$&80$8&' 0",/$"0' :fgAi>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h?p

EGUG 7DGUDFCMI #DK<BYHD = 'UYG< ICFB<FI<S HG UB<UG ^RD 3_CDb 0DHB<S UG<FCICGK BKEHBXKIEBLK I HG< HDKVRIZD< VDGU_FCBEG< ^RD HD< TCGTGCEBGKIYI DH ICFD TCDaB<T\KBEG IUDCBXEIKG=

%FCI WDCFBDKFD ;DCBWI;I ;D HI 'Y<FCIEEBLK 7DGU_FCBEI DK HI 'CVDKFBKI NRD DH HHIUI;G'CFD 7DKDCIFBWGS UGWBUBDKFG ^RD FRWG <R GCBVDK DK -RDKG< 'BCD< DK fgi@S ERIK;G DHECMFBEG Q EGHDEEBGKB<FI ICVDKFBKG "VKIEBG 3BCGWIKG TCGTR<G FIH ;DKGUBKIEBLK I HG< TBKFGXCD< *;RIC;G .IE *KFQCD Q .BVRDH 4KVDH OB;IH TICI ;DNBKBC <R GYCI ICFM<FBEI= *H F_CUBKG[7DKDCIFBWG] BUTHBEIYI DH aDEaG ;D DKVDK;CIC <DERDKEBI< LTFBEI< I FCIW_< ;DH UGWBUBDKXFG ;D HMKDI< EBCERHICD<S WDCFBEIHD< Q aGCBbGKFIHD<S FIKFG DK GYCI< YB;BUDK<BGKIHD< EGUGFCB;BUDK<BGKIHD<= )D D<FI UIKDCIS UD;BIKFD HI EGKWDCVDKEBI ;D HMKDI< Q HI EGHGEIEBLK<RED<BWI ;D NBVRCI< VDGU_FCBEI< ;B<TRD<FI< <GYCD ;DFDCUBKI;G< DZD< ;D ;D<ICCGHHGS <D HHDVLI HI ECDIEBLK ;D DNDEFG< ;D VCIK ;BKIUB<UG= ' HI< B;DI< TCGTRD<FI< TGC .IE *KFQCD Q OB;IH<D IEDCEICGK TG<FDCBGCUDKFD <R< EGUTIFCBGFI< 'CQ -CBbbB Q &GVDHBG 3GHD<DHHG=

0'&+%# 0&89 )6*9 :O*,*98*+'>= ",)800"J, 0&%.4$"0' ,ƒ f@i :fggg>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h?h

#*+*00"J, )* ".47*,*#

O"0*,$* )% &*7% .%,$*"&% :-&'#"+>= 0&80"2"`"J, :fg??>

' TCBKEBTBG< ;D HI ;_EI;I ;D fg?@ <D TCG;RED DK WICBG< TIM<D< ;DH EGKFBKDKFD HIBCCRTEBLK ;D HI< WIKVRIC;BI< ^RD FCIDK EGK<BVG HI CDKGWIEBLK ;D HG< HDKVRIZD< D<F_FBXEG<= +I< WICBIYHD< ;DH ERYB<UGS FDK;DKEBI ^RD aIYMI TCIEFBEI;G ICFB<FI< EGUG HG<UDcBEIKG< )BDVG &BWDCI Q 4KVDH 9\CCIVIS G DH ICVDKFBKG *UBHBG 3DFFGCRFBS IYCBC\KKRDWI< WMI< DK DH ICFD IUDCBEIKG= *K -CI<BHS TI<I;I HI CDEGC;I;I DcTG<BEBLK ;D 'KBFI.IHNIFFB DK fgfsS ^RD aIYMI FCIM;G IBCD< KRDWG< I RK UD;BG ;GUBKI;G IRK TGC HG<

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h?A

CD<IYBG< ;D HI TBKFRCI IEI;_UBEIS NDEaI EHIWD <DC\ DH IdG fg?? ERIK;GS EGBKEB;BDK;GEGK HI EGKUDUGCIEBLK ;DH EDKFDKICBG ;D HI "K;DTDK;DKEBI ;DH TIM<S <D HHDWD I EIYG DK#…G 3IRHG HI #DUIKI ;D 'CFD .G;DCKI= +I UIQGC TICFD ;D HG< ICFB<FI< TICFBEBTIKFD<TCGTBEBIC\K RKI [WIKVRIC;BI EGK FCI;BEBLK]S GTFIK;G TGC KG ;IC HI D<TIH;I I HI<TCGTBI< CIMED< <BKG CDBKFDCTCDF\K;GHI< DK EHIWD EGKFDUTGC\KDI= $DU\FBEI< ;D ICCIBVGTGTRHIC EGUG HI< CDHBVBG<I< FDK;C\K EIYB;I DK HG< CDKGWI;GCD< YCI<BHDdG<S EGUG <DITCDEBI DK D<FI GYCI ;D &DVG .GKFDBCGS ICFB<FI ^RD D<VCBUD RKI UICEI;I VDGUDFCBbIXEBLK DK HI ERIH DH UGFBWG ^RD;I <RYGC;BKI;G I HI< TIRFI< EGK<FCREFBWI< ITCDaDK;B;I<;D HG< DRCGTDG<=

0'&+%# ./&")' :78'$*.'+'>= #'0*&)%$*# )',9',$*# .'1'# :)*$'++*> :fgij>

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h?i

[*K DH ;D<DKWGHWBUBDKFG ;D HI GYCI TBEFLCBEI ;D ._CB;IS TRD;DK DKEGKFCIC<D TICIXHDHG< EGK HI DcTCD<BLK ;D <R< UID<FCG< DRCGTDG<= oIK;BK<nQS oHDDS .GK;CBIKS .BCLSCDaIYBHBFIK BVRIHUDKFD DH UB<UG <BKECDFB<UG ^RD ._CB;I FCI<TGKD U\< FIC;D EGK ;BNDXCDKFD CRUYG= #R GYCI TICFBEBTIS EGK BVRIH VCI;G ;D GCBVBKIHB;I;S DK DH ;D<ICCGHHGICFM<FBEG ;D KRD<FCG< ;MI<= 2GCUIHUDKFD ICCIKEI ;DH ERYB<UG ;D ERQG KIEBUBDKFG NRDFD<FBVGS TDCG <R IHEIKED EGK DH THIKB<UG ;D HI TBKFRCI TCDEGCFD<BIKI Q ^RD HHDVI IKG<GFCG< DK HG< FDZB;G< BK;MVDKI< Q DH ICFD TGTRHICS D< FIUYB_K ;DFDCUBKIKFD DK DHHDKVRIZD TH\<FBEG UDCB;BIKG=

+I< TBKFRCI< ;D $DTIKFBFHIS HG< D<ER;G< IbFDEI< DK UG<IBEG ;D THRUI<S HG< NCD<EG<;D -GKIUTIn Q 8IcIEFkK G HI< ;DEGCIEBGKD< DK HG< WI<G< ;D 0aIU\S VBCIK DK <R ICFDIKFCGTGUGCNG Q VDGU_FCBEG= "VRIHUDKFDS DH EGHGCB;G <RKFRG<G ;D <R< ERI;CG< URCIHD<TICFBEBTI ;D HI CB^RDbI ECGU\FBEI ;D HG< aRBTBHD< ;D #IK 3D;CG #IEIFDT_^RDbS 9RKBH G#RUTIKVG= #R VCINB<UG CDERDC;I HG< EL;BED< G HI< FIHHI< TGTRHICD<= 3DCG KG <GKEGTBI< <DCWBHD< ;D IC^RDGHGVMI G NGHEHGCB<UG ;D TG<FIH FRCM<FBEI= *< RK ;D<;GYHIUBDKFG;D HI BUIVDK EGK EICIEFDCD< ;D D<F_FBEI EGKFDUTGC\KDI]=

:0'-&*&'S &GYDCFG= [0ICHG< ._CB;I DK HI TH\<FBEI EGKFDUTGC\KDI]= *K5 0ICHG< ._CB;I= *cTG<BEBLK !GUDKIZD = ._cBEGS .R<DG ,IEBGKIH ;D !B<FGCBI Q -DHHI< 'CFD<Sfgsf>=

2*&,',)% )* #91#9+% :3*&r>= *#$8)"% 3'&' {'.', {'#" "" :fgsA>

[3LCFBEG< UB<FDCBG<G<S D<EIHDCI< ^RD EGK;REDK I ;D<FBKG< BKFCBVIKFD<S CDEBKFG< ^RDI<RUDK DH EIC\EFDC ;D HRVICD< EDCDUGKBIHD< Q WDKFIKI< ^RD EGURKBEIK EGK D<TIEBG<IkK U\< DKBVU\FBEG<S EGK<FBFRQDK RKI D<TDEBD ;D D<EDKGVCINMI ;GK;D NGCUI< NHGFIKXFD< G D<F\FBEI< EGK<FBFRM;I< TGC <BVKG< DHBT<D<S CI<VG< IKFCGTGUGCNG< Q ;B<DdG< TCDaB<XT\KBEG< ITGCFIK RK ;CIUIFB<UG <GHDUKD Q <BHDKEBG<G= 8K ZRDVG ;D HRED< Q ;D <GUYCI<EGUTHDUDKFI HI IFUL<NDCI BCCDIHS <RCCDIHB<FIS UDFINLCBEIS ^RD DKWRDHWD I D<FI< BU\VDXKD< Q ^RD CDUBFD KG <LHG I CDNHDcBGKD< <GYCD HI RFGTMI G HI NIKFI<MI G I EGK<B;DCIEBGXKD< <GYCD HG< UBFG< Q DH TI<I;GS <BKG <GYCD I<RKFG< ;D WBVDKEBI RKBWDC<IH EGUG HIWB;I= +I URDCFDS HI< FCI;BEBGKD< Q DH D<TMCBFR]=

:#*&&',%S *;RIC;G= [2DCKIK;G ;D #bQ<bHG]= *K5 %KED UID<FCG< ;D HI TBKFRCI IK;BKI = -GVGF\S 3CGTIHS fggjS 3\V= g@>=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h?s

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$h?j

*)7'& ,*7&*$ :0%+%.-"'>= $*e")% ,ƒ f :fggf>

[*K HI EGHGCB;I <DCBD ;D $DZB;G< S ,DVCDF FCI;RED <R EGKUGWB;I I;UBCIEBLK TGC HG<UIVKMNBEG< HGVCG< IHEIKbI;G< DK HI BK;R<FCBI FDcFBH TGC HG< IYGCMVDKD< IK;BKG<S DKD<TDEBIH ;DH \CDI ;DH 3DCk= .D;BIKFD ;BEaI <DCBD DK aGUDKIZD I HG< FDcFBHDCG< IK;BKG<TCDEGHGUYBKG< ^RBDCD DH D<ERHFGC ;D<FIEIC HI DcFCDUI;I EGUTHDZB;I; ;D <R< KR;G< QDKFCDHIbIUBDKFG<S HI NIKFI<MI ;D <R< UGFBWG< GCKIUDKFIHD<S HI WICBI;I CB^RDbI ;D <R<;B<DdG<S HI BKFRBFBWI <ITBDKEBI ;D <R< F_EKBEI< Q UIFDCBIHD<S CI<VG< FG;G< ^RD <BVRDK<GCTCDK;BDK;G IRK aGQ ;MI I HG< DcTDCFG<= 0GK D<FD D<TMCBFR ;D NDCWBDKFD FCBYRFGSDHIYGCI ,DVCDF DK fggf HI< FCD< TCBUDCI< WDC<BGKD< ;D HI <DCBD ;D $DZB;G< S EI;I RKI ;DDHHI< ;BNDCDKFD TGC FCIFIUBDKFG Q ;B<DdG EGUTG<BFBWG5 RKI EGUG D<FCDEaI EGHRUKIWDCFBEIHS GFCI EGUG WGHRU_FCBEG CDFIYHBHHG aGCBbGKFIHS HI FDCEDCI EGUG IEaIFI;G CDHBDWDURCIH===

*K ;BCDEFI CDNDCDKEBI I HI< IHICVI;I< NIZI< NRKDCICBI< BKEIBEI<S EGKNDEEBGKI KRD<FCGICFB<FI DH aGCBbGKFIHBbI;G $DZB;G ,ƒ f= 8K ;DHVI;GS HICVG Q YIZG <GTGCFD WBGHDFIS EGK<XFBFRB;G TGC ERIFCG UL;RHG< ERI;CI;G<S EI;I RKG ;D DHHG< ;BWB;B;G DK ;G< UBFI;D<S<DCTDKFDI TGC DH <RDHG DK ;_YBH bBVXbIV= *K EI;I NCDKFD ;D HI ‹NIZImS HG< GTIEG< DHDXUDKFG< ;D HI ‹FCIUIm <RYQIEDKFD :DK <LHB;G IK;IUBIZD GCFGVGKIH> <D WIK DKFCDFDZBDKX;G DK CMFUBEI IHFDCKIKEBI EGK HI< D<FCDEaI< NCIKZI< WDCFBEIHD< ;D YCBHHIKFD< Q TGHBECGUG<UGFBWG< FDcFBHD< DK NGCUI ;D D^RB< Q CGUYG<===]=

:#'+O')%&S eG<_ .ICMI= *;VIC ,DVCDF= )D HI U\^RBKI IH UBFG = 0ICIEI<S 0DKFCG;D 'CFD 0CB<GHS fggfS 3\V= hh>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# h?g

'3/,)"0* )%08.*,$'+

"= +' %&"*,$'0"J, 0%,O*,"*,$* '+ '&$* 1 ' +' 08+$8&''.*&"0','f

*H URK;G D< CD;GK;Gl FG;G< HG< <IYDK= *H URK;G D< RKI RKB;I;= 3GC D<FG aIQ RKBKFDCKIEBGKIHB<UG I TD<IC ;D HI< NCGKFDCI<= 3DCG aIQ HG GTRD<FG FIUYB_KS Q D<FG TGC HI<NCGKFDCI< Q GFCI< EG<I<= 1 ITICFD ;D FG;GS ^RB_CI<D G KGS aIQ ;BNDCDKEBI< BUTRD<FI<TGC HI KIFRCIHDbI= 0GUG DK FG;GS I^RM FCIYIZI HG GTRD<FGS Q ;D D<FG <RCVD HI WB;I= *<FGFIUYB_K D< RKI HDQ=

)D IERDC;G EGK D<G TRD;D TDK<IC<D5 'U_CBEI ;DH #RC D< EGUG GFCI ERIH^RBDCICDVBLK ;DH VHGYGS TRD< D< RKI TICFD ;D _<FD QS TGC HG FIKFGS IHHM TRD;DK TI<IC HI< EG<I<EGUG DK FG;I< TICFD<l Q TI<IK= *< EBDCFGl TDCG FIUYB_K D< EBDCFG ^RD D<I< UB<UI<EG<I< TI<IK I^RM ;D GFCG UG;G= *<G D< BKKDVIYHD= 'EGKFDED EGUG EGK HI< _TGEI<5FG;G WBDKD TCG;REB_K;G<D ;D BVRIH UG;G DK DH URK;GS TDCG=== HG< <BVHG< ;DZIK <REICIEFDCM<FBEI= $IUYB_K D<G D< BKKDVIYHD=

0GK CDNDCDKEBI IH ICFDS TRD;D TDK<IC<D5 IHVG D< HG TCGTBG ;D aGQS RK ECBFDCBG D<F_XFBEG ;DFDCUBKI;G ^RD ;DYD UICEIC G UICEI DWGHREBLK= ,G aIQ ;R;I= 3DCG D<G UB<UGS€FDK;C\ HRVIC DK FG;I< TICFD< EGK HI UB<UI UG;IHB;I;~ "K;R;IYHDUDKFD KG= )GUBKII RKI _TGEI RK ECBFDCBG ;D ICFDS TDCGS ER\K ;BNDCDKFD< <GK HI< GYCI< <DVkK HI< FBDCCI<,G aIQ U\< ^RD WDC HI ;DNGCUIEBLK ^RD <RNCD FG;G D<FBHG <DVkK HG< TIM<D<=

!IQ GFCG aDEaG5 I^RDH ;D ^RD FIH G ERIH TIM< ;I TCBKEBTBG I RK KRDWG EBEHG ;D ICFD=0BDCFG< NIEFGCD<S ^RD TRD;DK <DC URQ ;BWDC<G<S GEI<BGKIK D<G= *KFGKED< D<D TIM<BKNHRQD <GYCD HG< GFCG<= #BK ^RDCDC BUTGKD RK KRDWG D<FBHG 'aGCI YBDKS ITICFD ;D FG;GD<GS €TRD;DK HI< B;DI< Q RK D<FI;G ;D EGKEBDKEBI ;D HI< EG<I< ;DFDCUBKIC ^RDS DK RKTIM< ;I;GS <RCZI RK UGWBUBDKFG ;D ICFD TCGTBG~ *< TCGYIYHD= #B D< G KG CD<RHFI;G ;DRKI UI;RCDbS <DCMI GFCI EG<I I DcIUBKICl TDCG ^RD DH aDEaG ;D HHDVIC I HI EGKEBDKEBI;D HI< EG<I< TRD;I ;DFDCUBKIC DH ICCIK^RD ;D TCGQDEEBGKD< DK RK <DKFB;G ;I;GS Q ^RD_<FI<S IH NBKS FGUIK;G ERDCTG <DIK IHVG ;DNBKBFBWIUDKFD HGVCI;G QS TGC D<FG FIUYB_KSEGK<FBFRQIK ;BNDCDKEBI D<DKEBIH EGK CD<TDEFG I GFCI<S QI HG aDUG< WB<FG= 8K TRDYHGERIH^RBDCI TRD;D ;D<TDCFIC<D I HI IEFBWB;I; Q I HI ECDIEBLK DK ERIH^RBDC UGUDKFG= *KHI FBDCCI U\< BK<G<TDEaI;I TRD;D ;IC<D D<D EI<G= €qRB_K TG;C\ INBCUICS G KDVICS ^RDTRD;D aIYDC IHVG HIFDKFD ^RDS ;I;I RKI EIR<I GEI<BGKIH ERIH^RBDCIS ;DFDCUBKD D<DTCBKEBTBG DUYCBGKICBG ;D ICFD~ 3RKFG ;D TICFB;IS ERQG ;D<DKWGHWBUBDKFG G ;D<ICCGHHGTRD;D G KG HHDVIC I F_CUBKGS TDCG ^RD aI FDKB;G HRVIC= ,IEBUBDKFG ;D IHVG=

)D HG ^RD aIQI ;I;G D<FI TICFD ;D 'U_CBEIS aI<FI DH TCD<DKFDS TGEG TRD;D BUTGCXF\C<DKG<S TGC^RD aI <B;G RK CDNHDZG ;D HG ;D *RCGTI Q IRK URQ ;_YBH= *K VDKDCIH KG<D aI BKFDCTCDFI;G YBDK= 1 HG TCGTBG KG aI DcB<FB;G= ,B IRK EGUG BKWGHRKFICBG IEDKFG^RD TRD;I UICEIC RK UIFBb ERIH^RBDCI ITCDEBIYHD=

f= $%&&*#X7'&06'S eGI^RMK= 8KBWDC<IHB<UG EGK<FCREFBWG "= .I;CB;S 'HBIKbI *;BFGCBIHS fgjhS3\V<= ?gfX?gp=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hp@

,I;IS TRD<S <IYDUG< ;D HG ^RD #R;IU_CBEI TRD;D ;IC= ,I;IS <B <D aIED EI<G GUB<G;D HG NGHnHLCBEG ^RD FG;G TIM< Q aI<FI EI;I CDVBLK FBDKD= #D aIYHI I^RM ;D ICFD I;RHFGS;D ICFD NCRFG ;D EBDCCI DWGHREBLK Q TGC D<FG ;D ;DTRCIEBLK= 1 HI CIbLK D< EHICIS KG aITI<I;G DH FBDUTG KDED<ICBG= 3DCG aIQ ^RD D<TDCIC ^RD ;IC\l D<G D< DWB;DKFD= 1 ^RBb\<KG D<F_ HDZIKG DH ;MI= 3RD;D aIYHIC<D I<MS TGC DH ;D<EC_;BFG DK ^RD aDUG< DKFCI;G EGKCD<TDEFG I FG;G HG DK<IQI;G G CDIHBbI;G TDK<IK;G DK *RCGTI= 1 I;DU\< HI NIHFI ;DDKFR<BI<UGS ;D ND DK DH ICFD= $G;G D<FGS I UB WDCS D< IHVG TCDERC<GC ;DH ;D<DG ;D BC TGCGFCG CRUYGS ^RBb\< ;D DKEGKFCIC EIUBKG TCGTBGS IHVG=== 'HVGS <DI HG ^RD <DIS ^RDWRDHWI I aIEDC CDKIEDC HI ND= '<M D<FIUG<=

#GHG<S TRD<S €^R_ ;DYDUG< aIEDC~ 'FDKDCKG< I EBDCFI< KGCUI< ;D ICFD ^RD <GKDFDCKI< QS ;D IERDC;G EGK DHHI<S ECDIC IHVG ^RD CD<TGK;I I RKI KDED<B;I; ;D I^RM=3CBUDCG GYZDFG<S ;D<TR_< BC DHDW\K;G<DS ECDEDC= 'HVG EGUkK WI I RKBNBEICKG<5 HI ND DK RKI D<FCREFRCI = 1 EGUG <D aI ;BEaGS TGC EBDCFI< KGCUI< ^RD aIK CDVB;G <BDUTCD DHICFD= ,I;I U\<=

,G FDKDUG< FCI;BEBLKS Q FIKFG UDZGCS TGC^RD ;DYD aIEDC<D HG ;D aGQ= qRD KG^RBDCD ;DEBC EGTBIC HG ;D aGQS <BKG <LHG ;IC <R WBYCIEBLK= 3DCG IaGCI WGHWDUGS ERHFRCIS <IYDC ;D FG;G< HG< TRDYHG<=

*KFCI;G< DK RK GC;DK RKBWDC<IHS HG BK;BWB;RIH Q HG _FKBEG ;D<ITICDEDKl Q KG TCDXVRKFIUG< QI ^RB_K aBbG FIH EG<I Q DK ^R_ FBDUTG=

$G;I< D<FI< ;BWIVIEBGKD<S €;D ^R_ KG< aIK <DCWB;G~ 3CBUDCG5 TICI KG WGHWDC I HI;DTDK;DKEBIS IH CDNHDZG ;D *RCGTI= 1 D<FG QI D< UREaG= #DVRK;G5 TICI TICFBC ;D YI<D<YBDK EGKECDFI<= 1 IaGCIS <BFRI;G< DK DH THIKG ;D HI TH\<FBEI TRCIS €^R_ WIUG< I aIEDC~,I;I TCDEGKEDYB;GS <BKG HG ^RD FDKVI ^RD <IHBC= +G ^RD <IH;C\ EGK HI WRDHFI I HI ND DKIHVG=

0GK D<FD KRDWG D<TMCBFR aDUG< NRK;I;G I^RM DK .GKFDWB;DG RK HIYGCIFGCBG TICIDH D<FR;BG ;DH ICFD TH\<FBEGS ^RD I TD<IC ;D <R ZRWDKFR; aI QI CDIHBbI;G RKI DcTG<BXEBLK D<TDCIKbI;GCI= %YCI< ;D D<ERHFRCI Q TBKFRCIS GYZDFG< TH\<FBEG< ;BWDC<G<S VCIYIX;G<S TCGQDEFG<===S TGC^RDS YGCCI;I HI ;BNDCDKEBI DKFCD ICFD Q ICFD ITHBEI;GS D<FG aI;I;G HRVIC I ;BWDC<I< CDIHBbIEBGKD< DK ^RD ZIU\< TR;G TDK<IC<D= 1 aGQ UBCIUG< EGKFIKFI EGUTHIEDKEBI RKI EGTI FIHHI;I DK UI;DCI G RK TD^RDdG URDYHD EGUG RKIEGK<FCREEBLK TH\<FBEI G RKI D<ERHFRCI DK TBD;CI G RK ERI;CG= 3GC^RD DK FG;G WDUG<HG UB<UG TCGTGCEBLKS GC;DKIUBDKFGS NRKEBLK ;D DHDUDKFG<S EGKEDTFG TRCG ;D HI NGCXUIS CBFUGS D< ;DEBCS DH DHDUDKFG TCGNRK;G ^RD ;DYD <BDUTCD CDVBC DH ICFD= *<FD KRDWGEGKEDTFG ;D ICFD aI ;D<TDCFI;G DH DKFR<BI<UG TGC DH FCIYIZG= !I WRDHFG HI D<TDCIKbI=%FCI WDb EI;I RKG aI WRDHFG I ECDDC DK <M UB<UG= 1 HI IHDVCMI ^RD D<FG aI TCG;REB;GSQI <D FCI;RED DK HI TCG;REEBLK ;D EGHGCD< EHICG< D BKFDK<G< :HBYCD< ;D TIFBKI<>S DUGXEBLKS D<TMCBFRS ZRWDKFR;=

' TD<IC ;D HI< TCDEIREBGKD<S aIQ ^RD EGKND<IC ^RD FG;G D<FG FBDKD TICDKFD<EG EGKHI< kHFBUI< UG;IHB;I;D< ;DH ICFD EGK<FCREFBWG DRCGTDG= 3DCG <B FBDKD TICDKFD<EGS QI KGD< HG UB<UG= $IUTGEG D< HG ^RD FDK;C\ ^RD <DCS ;I;G DH IUYBDKFD ;D I^RM=

*< HLVBEG ^RD I<M <DI= #BK DH NIEFGC FBDUTG KI;I TRD;D aIEDC<D= 3GC D<G D< FDUTCIXKG TD;BC U\< ^RD DH D<FIC DK RKI YRDKI GCBDKFIEBLKl DH aIYDC HHDVI;G I RK ECBFDCBG ZR<FG ;DH TCGYHDUI= ';DU\<S aIQ ^RBDK aI FDKB;G ^RD CDKGWIC<D TGC EGUTHDFGS CDKDXVIC ;D <R< IKFBVRI< EGKWBEEBGKD< ICFM<FBEI<S IYIK;GKIC FG;G DH YIVIZD ;D EGKGEBUBDKX

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hpf

FG< I;^RBCB;G<= 1 DK EIUYBGS GFCG< aIK FDKB;G ^RD I;^RBCBC C\TB;IUDKFD EGKGEBUBDKXFG< ^RD KG TG<DMIK Q aI<FI EBDCFI F_EKBEI=

!I<FI DH TCD<DKFDS FG;G UD;BG UIFDCBIH aI NIHFI;G= !I <B;G _<FIS TRD<S GYCI ;DDKFR<BI<UG=

'TICFD ;DH ECBFDCBG DcTRD<FG EGK CD<TDEFG I CD<GHWDC KRD<FCG TCGYHDUI ;D ICFD EGKBK;DTDK;DKEBIS aIQ GFCG5 DH ;D IWIKbIC IkK UB< IHH\ DK HI <GHREBLK ;D HG< TCGYHDUI<^RD ;DYD THIKFDIC<D aGQ DH ICFDS RKBWDC<IHUDKFD= )D<;D I^RM <D KG< CDTCD<DKFI ^RDSIEFRIHUDKFD DK *RCGTIS <D D<F\K DcTHGFIK;G HI< kHFBUI< NLCURHI< ;DH ICFDS EGUG WGHXWBDK;G <GYCD DHHI< <BK CD<RHFI;G= 3GC GFCG HI;GS ^RD KG <D FBDKD DK ERDKFI ;DH FG;GS^RD aGQ DH ICFD FBDKD ^RD I;GTFIC RKI TG<BEBLK EGK CD<TDEFG I TCGYHDUI< <GEBIHD<^RDS DK RK <DKFB;G R GFCGS TRD;DK aIEDCHD TDC;DC HI D<FIYBHB;I; ;D <R YI<D= qRD <DD<F\ DK IHVG BK;DEB<G DK ERIKFG I D<G= 1 DH TCGYHDUI KG< TICDEDS KG <LHG EHICGS <BKG;D N\EBH <GHREBLK= $G;G D<FCBYI DK FDKDC RK ECBFDCBG ZR<FG ;D HG ^RD ;DYD <DC DH ICFDUB<UG= [!RUIKBbIEBLK]S [;D<aRUIKBbIEBLK]S [DH ICFD IH <DCWBEBG ;Dx=]S DFE=S FG;GD<FG <D aI D<FR;BI;G UBKREBG<IUDKFD= 1 KG DcB<FD ;R;I <GYCD DHHG=

*KDCG ;D fgpi=

""= *+ .'&0%5 8, 3&%-+*.' )* +' 3+4#$"0' '0$8'+?

.GFBWI;I TGC HI CDWGHREBLK YRCVRD<I ;DH sg DK 2CIKEBIS RKI NRDCFD EGCCBDKFD KIFRXCIHB<FI BKWI;D HI< ICFD<S D<TDEBIHUDKFD HI TBKFRCIS I HI ^RD TGC HICVG< IdG< CDHDVIC\ IRKI EGK;BEBLK ;D U\^RBKI NGFGVC\NBEI=

#DC\ KDED<ICBG ^RD <RCZI RK 0_bIKKDS DK DH TIKGCIUI TH\<FBEGS EGK RK EGKEDTFGFIK TBEFLCBEG ^RD HD TDCUBFBL ;DEBC5 [!D ;D<ERYBDCFG ^RD DH <GH D< RKI EG<I ^RD KG <DTRD;D CDTCG;REBCS TDCG ^RD <D TRD;D CDTCD<DKFIC]l G RK 7IRVRBK ^RD D<ECBYBL5 [*HICFD TCBUBFBWG TCGED;D ;DH D<TMCBFR Q IUTHMI HI KIFRCIHDbI= *H ICFD ^RD <D aIED HHIUICCDNBKI;GS TCGED;D ;D HI <DK<RIHB;I; Q <BCWD I HI KIFRCIHDbI= +I KIFRCIHDbI D< HI <DCWBX;GCI ;DH TCBUDCG Q DH IUG ;DH <DVRK;G= 0GKWBCFB_K;GHG DK RK <DCWB;GCS aIEB_K;G<DI;GTFIC TGC DH ICFB<FIS HG DKWBHDED= '<M D< EGUG aDUG< EIM;G DK DH IYGUBKIYHD DCCGC ;DHKIFRCIHB<UG ^RD EGUDKbL EGK HG< VCBDVG< ;D 3_KDHD===]S TICI ^RDS HDKFIUDKFDS HI TBKXFRCI WRDHWI I <R< WBDZI< HDQD<S TGC FIKFG FBDUTG GHWB;I;I<= *<FG <D EGKECDFIC\ DKfg@sS EGK HI ITICBEBLK ;DH ERYB<UGS EGK DH ERIH EGYCIC\K KRDWIUDKFD FG;G <R WIHGCDK HI ECDIEBLK ;DH ERI;CGS HI< HDQD< ;D TCGTGCEBLKS ;D EGHGCB;GS HI EGUTG<BEBLKS Q FG;GHG CDHIFBWG I F_EKBEI=

*H ERYB<UG <DC\ ;DNBKB;G <REBKFIUDKFD TGC 7RBHHIRUD 'TGHHBKIBCD DK [+D$DUT<];DH fh ;D GEFRYCD ;D fgfhS CDNBCB_K;G<D IH ['<TDEFG VDGU_FCBEG ;D D<I< TBKFRCI<S;GK;D HG< ICFB<FI< aIYMIK ^RDCB;G CD<FBFRBCS EGK RKI VCIK TRCDbIS HI CDIHB;I; D<DKEBIH]=1 <DC\ D<FD ;D<DG ;D DcTCD<IC HI CDIHB;I; ;D HI< EG<I<S HG ^RD HHDWIC\ HI TBKFRCI I RKITH\<FBEI EI;I WDb U\< IY<FCIEFIS TI<IK;G TGC DH NRFRCB<UGS aI<FI ERHUBKIC DK HI<

?= &%$!28##S &aG;= [*H UICEG5 RK TCGYHDUI ;D HI TH\<FBEI IEFRIH]= *K5 0GKFBKDKFD <RH #RCS3GCFG 'HDVCDS ,ƒ iS KGWBDUYCD ;D fggsS 3\V<= AsXAj=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hp?

kHFBUI< _TGEI< ;DH EBYB<UGS KGXGYZDFBWB<UGS KDG THI<FBEB<UG Q FIUYB_KS DK <R UG;GIY<FCIEFGS DH EGK<FCREFBWB<UG= *K D<FD UGUDKFGS ERIK;G U\< HDZG< TICDED ^RD D<F\ DHICFB<FI ;D HI KIFRCIHDbIS OBEDKFD !RB;GYCG ;BC\5 [,RKEI DH aGUYCD aI D<FI;G U\<EDCEI ;D HI KIFRCIHDbIS ^RD IaGCI ^RD KG FCIFI ;D BUBFICHI DK <R< ITICBDKEBI<S <BKGaIEBDK;G EGUG DHHIS BUBF\K;GHI DK HG TCGNRK;G ;D <R< HDQD< EGK<FCREFBWI<S DK HICDIHBbIEBLK ;D RK FG;G ;DKFCG ;DH UDEIKB<UG ;D HI TCG;REEBLK ;D NGCUI< KRDWI<]=

3DCG UBDKFCI< <D <GHREBGKIYI DH TCGYHDUI ;D HI ECDIEBLK TH\<FBEIS TRCIS HI UB<UI<GHREBLK :TGC RK TCBKEBTBG ;BIH_EFBEG BK^RDYCIKFIYHD> ECDIYI GFCGS ^RD <D <BDKFD UDXKG< DK DH KDGTHI<FBEB<UG Q DK DH EGK<FCREFBWB<UGS TGC <R EGUTG<BEBLK GCFGVGKIH ^RDDK DH ERYB<UG G DK DH KGXGYZDFBWB<UGS Q NRD5 DH UICEG =

*H ERYB<UG Q DH KGXGYZDFBWB<UGS TGC <R< EGUTG<BEBGKD< YI<I;I<S QI DK CBFUG< ;DHMKDI< GYHBERI<S QI DK NBVRCI< FCBIKVRHICD< G TGHBVGKIHD<S <D ECDICGK I <M UB<UG< DHTCGYHDUI ;D ^RD RK UICEG CDEFIKVRHICS EGCFIYI DH ;D<ICCGHHG TH\<FBEG ;DH FDUI= *HERI;CGS BKDWBFIYHDUDKFDS ^RD;IYI CD;REB;G I RK NCIVUDKFG=

3CGKFG <D BKFRQD D<FG= 1 HG< ERI;CG< URD<FCIK HI< <GHREBGKD< YR<EI;I<= 3GC DZDUXTHG .IK &IQS +_VDCS -CI^RD QS U\< EDCEI KRD<FCGS DH ERYB<FI ;D GFGdG 3DFFGCRFBS DKFCDGFCG<S EGUTGKDK IHVRKI< ;D <R< GYCI< DK EMCERHG<S DHBT<D< G TGHMVGKG<S ^RD BK<ECBYDKDK DH ERI;CBHGKVG ;DH UICEG= 3DCG D<FG KG D< FIUTGEG RKI <GHREBLK= 3GC^RDS TCDEB<IXUDKFD D< HG CDVRHIC ;D D<I< NBVRCI<S DH EGKFGCKG BKBKFDCCRUTB;GS <BU_FCBEGS HG ^RD;GUBKI HI EGUTG<BEBLKS EGCF\K;GHI=

*< TGC D<FG ^RD HI VDKDCIHB;I; ;D D<FG< ERI;CG< <BVRBDCGK DK I^RDH EGKEDTFG ;DWDKFIKI ;D HG< ERI;CG< KIFRCIHB<FI<S ;\K;GKG< RKI TICFD ;DH FDUI TDCG KG HI FGFIHBX;I; ;D _H= 8KI TBKFRCI EGK RK UICEG CDVRHIC aIED TCD<DKFBC RKI EGKFBKRB;I; ;DH FDUIS^RD <LHG ;D<ITICDEDS ERIK;G DH UICEG D<F\ CBVRCG<IUDKFD D<FCREFRCI;G ;D IERDC;G IHI EGUTG<BEBLK ;D HI TBKFRCI=

OIHD ;DEBCS ERIK;G <D aIED ZRVIC IH YGC;D ;D HI FDHIS RK TITDH IEFBWG DK HI ECDIEBLKTH\<FBEI= 3ITDH ^RD ;DYD FDKDCHG <BDUTCD= 8KI TBKFRCI ;DYD <DC IHVG ^RD DUTBDED QFDCUBKD DK DHHI UB<UI= #BK <GHREBLK ;D EGKFBKRB;I;=

"""= *+ '&$* '-#$&'0$%S #*7r, '+*e',)&% %$*&%p

0RIK;G RKG aIYHI ;DH ICFD IY<FCIEFG EGUG EGS BKUD;BIFIUDKFD <D QDCVRD ;D<;D HI GTG<BEBLK RKI EIKFB;I; BKEGKXUDK<RCIYHD ;D ERHTI<l Q RKI ;D HI< U\< EGURKD< D< HI ;D ;DEBC ^RD KG <D FCIFI ;DKI;I KRDWG= 1 DK DNDEFGS HI aB<FGCBI ;DH ICFD IY<FCIEFG ;IFI ;D RKG< ERIKFG< IdG<=3DCG €TG;CMIUG< KG<GFCG< aIYHIC ;D ICFD NBVRCIFBWG G CDIHB<FIS <BK aIEDCHG CDFCGED;DCDK HI aB<FGCBI I RKG< ERIKFG< UBHDKBG<~ #BK DUYICVGS KI;BD ;B<ERFD <R KGWD;I; ERIKX;G RK ICFB<FIS <BK EIUYBIC DH ERC<G ;D HI EGCCBDKFD FCI;BEBGKIHS DKERDKFCI RKI DcTCD<BLKKGWD;G<I R GCBVBKIH= 1G ^RB<BDCI NBZIC FIUYB_K DK D<FD UB<UG <BFBGS Q TICI DKFCIC ;D

p= %$*&%S 'HDZIK;CG= .DUGCBI ECMFBEI= 0ICIEI<S .GKFD 'WBHI *;BFGCD<S fgg?S 3\V<= i?Xip=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hpp

RKI WDb DK HI ERD<FBLKS ^RD ERIK;G ;BVG ICFD IY<FCIEFG KG UD CDNBDCG IH ERYB<UGS KB IHI TBKFRCI ;D NGCUI< VDGU_FCBEI<S aDEaI EGK G <BK EGUT\< G FBCIHMKDI<= *<FG <DCMIaIYHIC ;D RKI NLCURHI= .D aD ^RDCB;G CDNDCBC IH aDEaG KRDWGS CDWGHREBGKICBG DK DHICFDS ;D HI< TG<BYBHB;I;D< ;D RKI EBDCFI TBKFRCI ^RD KG KDED<BFIS Q ^RD CDEaIbIS FG;GEGKFIEFG BUBFIFBWG ;D HI< NGCUI< ;DH URK;G DcFDCBGCl Q ^RD WI U\< HDZG< FG;IWMISTGC^RD HI< CDEaIbI IRK I FCIW_< ;DH URK;G BUIVBKIFBWGS D< ;DEBCS CDBKWDKFI;I<S D<FBHBXbI;I< G FCIK<NGCUI;I<=

$IH <DCMI aGQ RKI ;DNBKBEBLK TCDEB<I ;D D<FI VCIK FCIK<NGCUIEBLK ;DH ICFD IY<FCIEFGS^RD TGC ;DZICHG FG;G IFC\<S <D KG< TCD<DKFI EGUG RKI ;D HI< U\< VCIK;D< CDWGHREBGKD<;DH ICFDS <BK TCDED;DKFD< DK HI aB<FGCBI ;D HI DcTCD<BLK aRUIKI=

3ICI DH TkYHBEGS ^RD WBDKD <BDUTCD IFC\<S HI ITICBEBLK ;DH ICFD IY<FCIEFG KG TG;MI<DC UDKG< ^RD BK<LHBFI Q UGK<FCRG<I BK<RCVDKEBIl Q FCI< HG< DTMFDFG< UDKG< D;BNBEIKXFD<S KG aI ED<I;GS EI;I WDb TGC CIbGKD< ;BNDCDKFD<S ;D TCGUGWDC RKI WRDHFI aIEBIIFC\<S I HI KIFRCIHDbI= $IH [I<DT<BI]S <D aI HHDVI;G I ;DEBCS KG TRD;D <DC <BKG NCRFG ;DIHVRKG ^RD GFCG aGUYCD <GHGS ERQG aIHHIbVGS TGC KGWD;I;S HG< GFCG< ^RBDCDK HHDWIC IHI IHFRCI ;D HG kFBH Q ;D HG ^RD TRD;D <DC WDC;I; TICI FG;G<= €3DCG KG D<S TGC DHEGKFCICBGS RKG ;D HG< IEFG< ;D ND U\< DcFCIGC;BKICBGS _<FD ;DH aGUYCD ^RD YR<EI U\<IHH\ ;D HI< NLCURHI< EGKEDYB;I< ^RD HG ITCB<BGKIKS EGCCBDK;GS BKEHR<BWDS FG;G DH CBD<VG;D HG ^RD <D HD IER<IS DK YR<EI ;D RKI HBYDCFI; <IHWI;GCI~

*< IY<RC;G ;DFDKDC<D NCDKFD IH ITICDKFD aDCUDFB<UG ;DH ICFD IY<FCIEFG Q ZRbVICHGTGC D<FG TGYCD G BK;BNDCDKFD= ,G D< WDC;I; ^RD DH EGKFIEFG EGK HG <GEBIH <D aIQI CGFGSQ ^RD KG FDKVI <BVKBNBEIEBLK aRUIKI= *H ICFD WB<FG ;D<;D D<FD TRKFG D<S TGC DH EGKFCIXCBGS U\< <IKGS U\< TRCG Q aRUIKGS TGC^RD KIED ;D <R TCGTBI <BVKBNBEIEBLK aDEaITCD<DKEBI ;BCDEFI DK DH aGUYCDS Q KG ;D B;DI< Q TCBKEBTBG< ^RD HD <GK DcFDCBGCD<=%C;DKI Q EHICBNBEI TITDHD<l <D DKVCIK;DED DK <R TCGTBI LCYBFI=

"O= #%-&* *+ '&$* 0%,#$&80$"O% *, './&"0' +'$",'h

8FGTMI< ITICFDS DH ICFD EGK<FCREFBWG KG <DCMI HI UIKBND<FIEBLK ERHFRCIH ;D <GEBD;IX;D< BK;R<FCBIHD<S FDCEBICBI< G IWIKbI;I<S <BKG ;D <GEBD;I;D< DK NI<D BKBEBIH ;D ICCIK^RDDEGKLUBEG= 3GC EBDCFGS UD TICDED <BKFGU\FBEGS DK DH EI<G YCI<BHDdGS ^RD #…G 3IRHG vCDTCD<DKFIK;GS DK DH -CI<BHS RK D<FI;BG BK;R<FCBIH U\< IWIKbI;Gv <D aIQI WBKERHI;GTCDNDCDKFDUDKFD IH EGKECDFB<UG <RBbGXIHDU\KXaGHIK;_<S UBDKFCI< ^RD &MGS UDKG< BKX;R<FCBIHBbI;GS IRK^RD U\< HkEB;G Q ECDIFBWGS <D aIQI UG<FCI;G U\< <DK<BYHD IH EGK<XFCREFBWB<UG CR<G= +I< UIKBND<FIEBGKD< FIC;MI< ;DH EGK<FCREFBWB<UG HIFBKGIUDCBEIKG TRD;DKFDKDC HI< UB<UI< CIbGKD< DEGKLUBEI<S DKFCD DHHI< DH TDFCLHDG :EI<G ;D ODKDbRDHI>SUBDKFCI< ^RD DK ._cBEG DH TCGYHDUI D< U\< D<TDEMNBEIUDKFD ERHFRCIH5 HI TDC<B<FDKEBI;DH URCIHB<UG EGUG ;GEFCBKI GNBEBIH= :x>

*H ICFD EGK<FCREFBWG KG <D TCD<DKFI BVRIH DK FG;G DH EGKFBKDKFD= #B IH <RC HG<UGWBUBDKFG< EGK<FCREFBWG< <D WBDCGK CD<TIH;I;G< TGC RKI BKFDK<I IKBUIEBLK FDLCBEI

h= .%&'"#S 2CD;DCBEG= +I< ICFD< TH\<FBEI< DK 'U_CBEI +IFBKI5 ;DH FCIKED I HG FCIK<BFGCBG= +I!IYIKIS 0I<I ;D HI< 'U_CBEI<S fgg@S 3\V<= hsXhj=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hph

vHHDWIK;G I HI NGCUIEBLK ;D VCRTG<S TRYHBEIEBLK ;D UIKBNBD<FG<S THIKD< TBHGFG<S CDXWB<FI<S VDKDCIK;G TGH_UBEI< Q ;B<B;DKEBI<vS DK DH EDKFCG Q DK DH KGCFD KG DcB<FDKS DKCBVGCS UGWBUBDKFG< G VCRTG<S <BKG RK DKERDKFCG D<TGKF\KDG ;D ICFB<FI< ^RD FCIYIZIKEGK TCGTRD<FI< <BUBHICD<= *K DH <RCS HI TGHICBbIEBLK FDLCBEI GTGKMI ;G< EIUTG<5 HGLTFBEG Q HG GCV\KBEGS HI HLVBEI Q HI BKFRBEBLKS HI U\^RBKI Q DH ERDCTGS HG WB<RIH Q HGTHRCBX<DK<GCBIHS DH FBDUTGS EGUG UGWBUBDKFGS Q DH D<TIEBGS EGUG ;RCIEBLKS DFE= *K HG<;DU\< TIM<D< DcB<FDKS TDCG IH KBWDH BK;BWB;RIH= #B UI;B<FI<S BKWDKEBGKB<FI< Q EGKECDFG<ICVDKFBKG< HREaICGK EGKFCI DH <RCCDIHB<UGS HG< EGKECDFG< Q KDGEGKECDFG< YCI<BHDdG<HDWIKFICGK YICCBEI;I< TICI EGKFDKDC DH ;BHRWBG FIEaB<FI= *< ;DEBCS DK IUYG< EI<G<S RKIGTG<BEBLK I HI< NGCUI< IRFGU\FBEI< ;D ICFD= *K ._cBEGS <D IHbIK EGKFCI DH URCIHB<UGQS DK 0GHGUYBIS OBHHIUBbIC ;BED aIYDC CDIEEBGKI;G EGKFCI HI WBGHDKEBI ;DH DcTCD<BGKB<XUGS UG<FCIK;G <R EGKFCICBG= 1S DK <R GTBKBLKS HG EGKFCICBG ;D HI WBGHDKEBI D< DH GC;DKS;DEHICIEBLKS TGC EBDCFGS URQ TICDEB;I I HI ^RD UD aBbG CDEBDKFDUDKFD &RYDU OIHDKXFBUS TICI DH ERIH HI KDED<B;I; ;D GC;DKICS ;D EGK<FCRBC Q ;D DHIYGCIC <R< NGCUI< EGKCBVGC DCI RKI GTG<BEBLK IH EIG< Q I HG< DcED<G< CDUIKFD< DK DH TIB<IZD NM<BEG Q ERHFRCIH;D <R D<FI;G KIFIHS -IaMI=

*H DcIUDK ;D HI< FDK;DKEBI< EGK<FCREFBWI< ;DH ICFD HIFBKGIUDCBEIKG KG <BVKBNBEIS ITCBGCBS RKI FGUI ;D TG<BEBLK EGKFCI GFCI< FDK;DKEBI< DcB<FDKFD< D BVRIHUDKFD W\HB;I<vNIKF\<FBEGS NBVRCIEBLK ECMFBEIv KB DHBUBKIC G UBFBVIC HI< EGKFCI;BEEBGKD< DcB<FDKFD<=*K D<FD EI<GS FIK W\HB;G EGUG DH ICFD GC;DKI;G Q EGK<FCRB;G TRD;D <DC GFCG ^RDI<RUI Q UIKBNBD<FD EHICIUDKFD KRD<FCG EIG<= "KEHR<G TGC^RDS EGUG aI FCIFI;G ;DUG<FCIC DH TBKFGC Q FDLCBEG ICVDKFBKG +RB< 2DHBTD ,G_S DcB<FD FIUYB_K RKI D<FCREFRCIDK DH EIG<S G UDZGC IkKS _H EIG< D< D<FCREFRCI= +I ECMFBEIS TGC GFCG HI;GS KG ;DYDUIKFDKDC<D DK TG<BEBGKD< CMVB;I<5 DH ITGQG I _<FI G I^RDHHI FDK;DKEBI ;DTDK;D ;D HI<EBCERK<FIKEBI< ;DH UGUDKFG G ;D UREaG< GFCG< NIEFGCD<S BKEHR<G DcFCIXICFM<FBEG<= $IHWDb KG <DI DH EI<GS aGQS ;D EGKFBKRIC ;DNDK;BDK;G RK ICFD EGK<FCREFBWG DK TIM<D<;GK;D QI DcB<FBL :;GK;D HI WIKVRIC;BIS aGQS TRD;D D<FICS TGC DZDUTHGS EGK HI NBVRCIXEBLK ECMFBEI>l DK GFCG<S TGC DH EGKFCICBGS BKEHR<G ERIK;G DH ICFD EGK<FCREFBWG CD<YIHIaIEBI RK EBDCFG ;DEGCIFBWB<UGS TRD;D <DC kFBH RKI FGUI ;D TG<BEBLK I <R HI;G=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hpA

0'36$8+% )*0".%q8",$%+' 2%$%7&'26'S .*)"% *#*,0"'+ 3'&' +'

0%,#$&800"J, )* 8,' ")*,$")') 0%,$*.3%&4,*'

f= ",$&%)800"J,

'H aIYHIC ;D HI NGFGVCINMI ;DYDUG< IFDK;DC HI DKGCUD DWGHREBLK ^RD D<FD [BKWDKXFG] aI DcTDCBUDKFI;G DK UDKG< ;D ?@@ IdG<= )D<;D fj?? DK ^RD ,BDTED EGK<BVRBLNBZIC <GYCD ECB<FIH RKI BUIVDK I HI ^RD ;DEB;BL ;DKGUBKIC aDHBLVCING G I TICFBC ;D fjpgDK ^RD <D ;BG I EGKGEDC GNBEBIHUDKFD EGK DH KGUYCD ;D ;IVRDCCGFBTGS D<FD ;D<ERYCBXUBDKFG aI UG;BNBEI;G HG< EGUTGCFIUBDKFG< <GEBIHD< Q <D aI EGKWDCFB;G DK NRDKFD QICEaBWG ;D HI UDUGCBI EGHDEFBWI ;D HG< TRDYHG<=

3ICI DH EI<G IUDCBEIKGS EGUG ;D<FIEI *CBnI -BHHDFDCS DKEGKFCIUG< IHVRKG< TCDXED;DKFD< EGUG HG< DcTDCBUDKFG< CDIHBbI;G< DK fj@A TGC *<FDYIK .ICFMKDb DK._cBEG ^RD RFBHBbL RKI E\UICI G<ERCI Q <GHREBLK ;D EHGCRCG ;D THIFI <GYCD RKITHIKEaI ;D UDFIH TICI CDTCG;REBC HI NIEaI;I ;D HI "VHD<BI ;D #IKFG )GUBKVG=!B<FGCBGVC\NBEIUDKFD <D EGK<B;DCI IH NCIKE_< !_CERHD< 2HGCDKED DH ;D<ERYCB;GC ;DD<FI KRDWI F_EKBEI DK 0IUTBKI< :-CI<BH> DK fjpp IH DcTDCBUDKFIC EGK E\UICIKDVCI Q HRb <GHIC Q EGK<DVRBC BUTCD<BGKD< NGFGVC\NBEI< <GYCD TITDH= 0GK HI NBVRCI;D 2HGCDKED KG< DKEGKFCIUG< EGK RKI EGK<FIKFD KG <LHG ;D HI NGFGVCINMI <BKG ;DGFCG< EIUTG< ;D HI ECDIEBLKS EGUG D< DH <BHDKEBIC D<FI< DcTDCBDKEBI< TBGKDCI<NCDKFD I HG< ;D<ERYCBUBDKFG< DRCGTDG< Q KGCFDIUDCBEIKG<= )D aDEaG 2HGCDKED NRDDH TCBUDCG DK ;DKGUBKIC IH KRDWG ;D<ERYCBUBDKFG [3aGFGVCITaBD] EGK IKFDCBGCBX;I; I HG< TCDERC<GCD< DRCGTDG< EGUG ,B_TEDS )IVRDCCDS $IHYGF G DH TCGTBG !DC<XEaDH I ^RBDK <D IFCBYRQD DH F_CUBKG=

#R HHDVI;I IH EGKFBKDKFD <D TCG;RED DK ;BEBDUYCD ;D fjpgS D< ;DEBC EBKEG UD<D<;D<TR_< ;D <DC IWIHI;G TGC HI 'EI;DUBI ;D 0BDKEBI< ;D 2CIKEBIS HG ^RD BK;BEI DHDKGCUD BKFDC_< TGC EGKWDCFBC D<FG< KRDWG< FDCCBFGCBG< DK FDUI NRK;IUDKFIH ;D CDTCDX<DKFIEBLK Q I HI NGFGVCINMI DK DH WDaMERHG TICI IEDCEIC IH TkYHBEG DRCGTDG HI CDIHB;I;;D HI< KRDWI< FBDCCI<= +I< TCBUDCI< DcTDCBDKEBI< <GK ;D fjh@ ERIK;G +DWDCVDC Q eDIK2CIK‡GB< 3CDHBDC EITFIK HI 0IFD;CIH ;D ._cBEG Q +GRB< 0GUTFD CDVB<FCI I HI NIUBHBI



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hpi

7*%&7* !8*-,*&= &6% 3'0!"$*'S 3*&r :0=fjg@>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hps

CDIH TGCFRVRD RK ;IVRDCCGFBTG ;D HI 0IFD;CIH=

?= *+ &*$&'$%

*H CDFCIFG <D EGKWBDCFDS DK RK TCBUDC UGUDKFGS DK DH FDUI NRK;IUDKFIH ;D HI<NGFGVCINMI<S TRD< HG< YRCVRD<D< WDMIK DK D<FD V_KDCG RK DHDUDKFG ^RD HG< IEDCEIYIEGK HI< EHI<D< IEGUG;I;I< DRCGTDI< Q RKI NGCUI ;D ;B<FIKEBIC<D ;D HI< TGTRHICD< DBK;MVDKI< ;DH EGKFBKDKFD= ,G D< ;D DcFCIdIC ^RD HG< TCBUDCG< D<FR;BG< NGFGVC\NBEG<^RD <D NRK;IK DK 'U_CBEI D<F_K CDVDKFI;G<S DK <R UIQGCMIS TGC TBKFGCD<S <GYCD FG;GCDFCIFB<FI<= '<M DK 0GHGUYBIS 'CVDKFBKI G ODKDbRDHI DKEGKFCIUG< ICFB<FI< ^RD <D YDXKDNBEBIK ;D HI< ITGCFIEBGKD< F_EKBEI< TICI DHIYGCIC <R< EGUTG<BEBGKD<S KG <LHG CDFCIXFG<S <BKG FIUYB_K WB<FI< RCYIKI<S EGUG D< DH EI<GS DK 'CVDKFBKIS ;D 0ICHG< 3DHHDVCBKB G3CBHB;BIKG 3RDQCCD;LKS G ;D .ICFMK $GWIC Q $GWIC DK ODKDbRDHI=

0GK DH TI<G ;DH FBDUTGS EGK<GHB;L <R EIC\EFDC ;D EICFI ;D TCD<DKFIEBLK Q CDEGUDKX;IEBLK TICI DH NGFGVCINBI;G= 3ICI DHHG NRD KDED<ICBG ECDIC RK [IUYBDKFD] TCGTBEBGS RKD<EDKICBG Q IEGUTIdICHG ;D RKI WD<FBUDKFI I;DERI;I= 0RIK;G GY<DCWIUG< D<FI<TCBUDCI< FGUI< KG TG;DUG< GERHFIC RKI <GKCB<I IH EGKFDUTHIC HI< TG<D< IKFBKIFRCIHD<Q ICFBNBEBIHD< EGK ^RD <D CDFCIFIYIK D<FG< TDC<GKIZD<S ^RD KG< BK;BEIK DH EIC\EFDC [EI<B<IVCI;G] ^RD HD EGKNDCMIK I <R CDTCD<DKFIEBLKS U\< TCLcBUG I HI BUIVDK aBDC\FBEI ;DHI< D<ERHFRCI< CDHBVBG<I< G EGKUDUGCIFBWI< ^RD I;GCKIYIK <R< BVHD<BI< Q D<TIEBG<RCYIKG<= #D FCIFIYI U\< ;D RKI [UBFBNBEIEBLK] ;D HI TDC<GKI ^RD ;D RKI [CDTCG;REXEBLK] EGUG ;BCMIK .ICBIKI 7BGC;IKG Q 3IFCBEBI ._K;Db=

%FCI IRFGCIS $DCD<I .IFIYRDKIS <DdIHIYI TICI DH EI<G UDcBEIKG ^RD [+G< NGFLVCIXNG< WDK;MIK CDIHB;I;D< UG;BNBEI;I<S DH TDC<GKIZD DCI CDIHS TDCG DH IUYBDKFD ^RD HGCG;DIYI DCI NBEFBEBG]= +G< VCIK;D< D<FR;BG< NGFGVC\NBEG< GNCDEMIK IH EHBDKFD RKI VCIKWICBD;I; ;D D<EDKICBG<S WD<FBUDKFI< Q FG;G FBTG ;D EGUTHDUDKFG< TICI CDIHBbIC IRF_KXFBEI< CDTCD<DKFIEBGKD< FDIFCIHD<= '<MS DH ;D HG< !DCUIKG< OIHHDFG DK ._cBEGS I TCBKEBXTBG< ;DH ``S FDKMI FCD< TB<G< ;D <IHGKD< ;DEGCI;G< Q aI<FI WD<FRICBG< Q FGBHDFFD< TICIHI EHBDKFDHI= 3BIKG<S YIHIR<FCI;I<S YIkHD<S WDKFIKI< EGK EGCFBKIZD<S EGK<GHI<S UD<I<STHIKFI<S YIKEG< ;D ZIC;MKS DFE=S DCIK NCDERDKFD< DK D<FG< D<TIEBG< ;D BKWDKEBLK ;DBU\VDKD<=

*H CDFCIFG <D EGKWBCFBL TRD< DK DH V_KDCG NGFGVC\NBEG ^RD TDCUBFBL THI<UIC Q CDBKXWDKFIC HI BUIVDK ^RD DH BK;BWB;RG Q HI <GEBD;I; FDKMIK ;D <M UB<UI<= *K DH EI<GIUDCBEIKG DKEGKFCIUG< ;G< FDK;DKEBI< EHICIUDKFD ;DNBKB;I<5 RKI D<F\ CDTCD<DKFI;ITGC 'HDZIK;CG {BFEGUY DK -RDKG< 'BCD<S ^RD NGFGVCINMI I HI YRCVRD<MI RCYIKI Q I HG<<DEFGCD< ICB<FGEC\FBEG<= %FCI TGC .ICFMK 0aIUYB DK 0R<EG :3DCk>S ^RD EGKWBDCFD I HI<EHI<D< BK;MVDKI< Q UICVBKI;I< DK DH FDUI NRK;IUDKFIH ;D <R< CDFCIFG<= 0aIUYBS ;DGCBVDK EIUTD<BKGS <D EGKWBDCFD DK RK NDCWBDKFD ;DNDK<GC ;DH BK;BVDKB<UG KG <BDK;G<R UBCI;I DcFDCKI <BKG [;D<;D ;DKFCG]S ;D<;D DH TCGTBG EGCIbLK ;DH NDKLUDKG=

8KI UDKEBLK D<TDEBIH EIYD aIEDC CD<TDEFG ;D HG< CDFCIFG< ;D ;BNRKFG< ^RD GERTIKRKI FDU\FBEI URQ TICFBERHIC ;D HI BEGKGVCINMI BYDCGIUDCBEIKIS Q ^RD FIUYB_K <D RFBHBbIDK HI TH\<FBEI= +I< NGFG< ;D KBdG< URDCFG<S [HG< IKVDHBFG<]S I WDED< WIK IEGUTIdI;I<EGK <R< TI;CD< ^RBDKD< KG <RDHDK UG<FCIC ;GHGC <BKG WIHGCIC HI BUTGCFIKEBI ;D HI

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hpj

',J,".% :'&7*,$",'>= )'78*&&%$"3% :fjAA>=

TDCUIKDKEBI ;D HI BUIVDK ;DH KBdG U\< IHH\ ;D HI URDCFD= 3ICI HG< NIUBHBICD<S D<FI<

NGFGVCINMI< NRKEBGKIYIK EGUG [GYZDFG< FCIK<BEBGKIHD<]S D< ;DEBCS EGUG DKFD< UD;BI;GXCD< ^RD TDCUBFMIK TG<DDC DH ERDCTG ;DH <DC IUI;G IR<DKFD=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hpg

78"++*&.% 3/&*9 2%,$$ :0!"+*>= *+ #'#$&* :0=fgf@>=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hh@

',J,".% :-&'#"+>= 2*#$*e',)% :0=fjg@>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hhf

$CI< HI 3CBUDCI 7RDCCI .RK;BIHS DH CDFCIFG WRDHWD I BUTGKDC<D ;D NGCUI EHICI DK HINGFGVCINMIS WBKERHIK;G HI WB<BLK ICFM<FBEI EGK RKI D<F_FBEI TCLcBUI I HI< WIKVRIC;BI<SNRK;IUDKFIHUDKFD DH <RCCDIHB<UG ^RD ITCGWDEaL HI< TG<BYBHB;I;D< F_EKBEI< TICI ;GFIC;D UIQGC NRDCbI DcTCD<BWI I <R< GYCI<= *K 'CVDKFBKI <D NGCUI DK DH TDCMG;G ;DDKFCDVRDCCI< DH UGWBUBDKFG [2GFG 'CFD] BKFDVCI;G TGC NGFLVCING< DRCGTDG< EGUG'KIFGHD #I;DCUIKS 'KKDUICBD !DBKCBEa Q 2CIKb WIK &BDH= *<FD VCRTGS ZRKFG EGK !GXCIEBG 0GTTGHI Q 7CDFD #FDCKS THIKFDIYIK HI BK;DTDK;DKEBI ;D HI NGFGVCINMI TICI HBYDXCICHI ;D <R EIC\EFDC BUBFIFBWG CD<TDEFG ;D HI TBKFRCI=

*H CDFCIFG EGKFDUTGC\KDG FDK;C\ RKI WICBI;I DWGHREBLK= OB<BGKD< URQ TDC<GXKIHD< HI< DKEGKFCIUG< DK ;G< ICFB<FI< ;D GCBVDK ERYIKGS 'KI .DK;BDFI Q .ICFI.ICMI 3_CDb -CIWGS ^RD RFBHBbIK <R ERDCTG EGUG DHDUDKFG NRK;IUDKFIH ;D <RGYCI Q IH ^RD NGFGVCINMIK TICI ;DZIC EGK<FIKEBI ;D <R< IEEBGKD<= .DK;BDFI EGXUBDKbI BKFDVCIK;G <R TCGTBG ERDCTG DK TDCNGCUIKED< Q YG;Q ICF= #R GYCI D<F\EDKFCI;I DK HG< <MUYGHG< TGHMFBEG<S HI B;DGHGVMI NDUBKB<FIS HI <IKFDCMI Q HI CDHBVBLK<BKEC_FBEI ERYIKI= #D CDTCD<DKFI DKNCDKF\K;G<D I HI KIFRCIHDbI EGK <R TCGTBGERDCTGS IEG<FI;I DK HI FBDCCI G DKFDCCI;I YIZG CIUI< G NHGCD<= .ICFI .ICMI 3_CDb-CIWG EGUBDKbI aIEBDK;G BK<FIHIEBGKD< DK HI ;_EI;I ;D HG< GEaDKFIS UIKBTRHIKX;G EGK TITDH GYCI< ^RD HRDVG NGFGVCINMI= #R GYCI FBDKD WBKERHIEBGKD< EGK HICDHBVBLK INCGERYIKIS DK HI ^RD DUTHDI <R TCGTBG ERDCTG EGUG IHFICS CDNHDcBGKIK;G<GYCD <R QG NM<BEG Q <R B;DKFB;I; ERHFRCIH=

p= +' 2%$%7&'26' ',$&%3%+J7"0' 1 0%#$8.-&"#$'

!IYCMI ^RD D<TDCIC aI<FI HI <DVRK;I UBFI; ;DH <BVHG `"`S TICI ^RD HI NGFGVCINMIS;D;BEI;I aI<FI DKFGKED< EI<B DcEHR<BWIUDKFD I CDFCIFIC I HI< EHI<D< IEGUG;I;I<S <DBKFDCD<ICI TGC ;GERUDKFIC <DEFGCD< <GEBIHD< UICVBKIHD< RCYIKG<S EHI<D< TGTRHICD< DBK;MVDKI<= *K -CI<BH NRD 'RVR<F 2CB<Ea DH TCBUDCG DK ;GERUDKFIC VCRTG< BK;MVDKI<;DH 'UIbGKI< EGK <DKFB;G IKFCGTGHLVBEGS IRK^RD <BK TDC;DC D<I UDKFIHB;I; DRCGTDI^RD BKEGCTGCIYI RKI WB<BLK DcLFBEI ;DH BK;BWB;RG= !IEBI fjii 0aCB<FBIKG eRKBGCNGFGVCINMI KDVCG< D BK;BG< DK <R D<FR;BG RFBHBbIK;G FDHGKD< EGK NGK;G< ;D YG<^RD<DRCGTDG<= *<FG< TDC<GKIZD< ITICDEDK EGK HG< TBD< ;D<EIHbG< TICI ;DUG<FCIC <R <BFRIXEBLK ;D D<EHIWBFR;S HI ^RD DK -CI<BH <DC\ IYGHB;I DK fjjj= *<FI WB<BLK <D IHDZIYIFGFIHUDKFD ;DH EIC\EFDC ;D ;DKRKEBI <GEBIHS IH UG<FCIC I HG< D<EHIWG< DK EGKFDcFG<BCCDIHD< Q EGK RKG< CG<FCG< ^RD ;DUG<FCIYIK <RUB<BLK Q GYD;BDKEBI= "KFDCD<IKFD<CD<RHFIK FIUYB_KS TGEG IKFD< ;DH EIUYBG ;D <BVHGS HG< FCIYIZG< ;D ;GERUDKFIEBLKNGFGVC\NBEI ^RD CDIHBbI DKFCD HI< FCBYR< BK;MVDKI< ;DH 3ICIVRIQ DH BFIHBIKG 7RB;G -GVXVBIKBS Q ^RD VGbIC\K ;D VCIK ;BNR<BLK I FCIW_< ;D HI FICZDFI TG<FIH= *<FI HIYGC KGD<FRWG DcDKFI ;D RK FC\VBEG NBKIH5 -GVVBIKB URCBL I UIKG< ;D RK BK;MVDKI EaIUIEGXEG DK fg@f=

+I< EGURKB;I;D< BK;MVDKI< <DVRBC\K <BDK;G DK I;DHIKFD FDUI ;D TCDNDCDKEBI= 3ICI#R\CDb 0IKIH HG kKBEG ^RD EICIEFDCBbI I HI NGFGVCINMI BYDCGIUDCBEIKI aI<FI DH TCBUDCFDCEBG ;DH <BVHG `` CD<TDEFG ;DH HDKVRIZD RKBWDC<IH D< DH FDUI BK;MVDKI5 [+G< FDUI< ;DIC^RBFDEFRCIS HI< EBR;I;D< EGK <R< IEGKFDEBUBDKFG< <GEBIHD<S DH BKBEBG ;D HI CDWGHREBLKBK;R<FCBIH EGK HI HHDVI;I ;D KRDWG< BKWDKFG<S HI HHDVI;I ;D HI <GEBD;I; ;D EGK<RUG



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hh?

!',# !*",&"0! -&‰,",7= )"28,$'S ,%&$* )*+ 3*&r :fjg@>=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hhp

+8"# )= 7"#.%,)" :-%+"O"'>= $&'#+')% )* +' 3%&$')' )*+ #*.",'&"%S+' 3'9 :0= fg?@>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hhh

EGK <R< UDCEI;G<S DH TIB<IZD Q DH CDFCIFG <D FCIFIK ;D HI UB<UI NGCUI D<F_FBEI EGKHBVDCI< WICBIEBGKD< ;D FBTG ERHFRCIH]= *K D<FD <DKFB;GS HI NGFGVCINMI ;GERUDKFIH ^RDCDIHBbI DK ._cBEG !RVG -CDaUD <D TCDGERTI TGC THI<UIC DH TDK<IUBDKFG BK;MVDKI DKEGKFCITG<BEBLK EGK DH aGUYCD GEEB;DKFIH ^RD WIHGCI HI CB^RDbI UIFDCBIH NCDKFD I GFCGFBTG ;D EGKEDTFG< D<TBCBFRIHD<=

*K RK BKBEBG KG <D FCIFIYI ;D RKI NGFGVCINMI ^RD YR<EIYI RKI ;DKRKEBI <GEBIHS <BKG^RD <BUTHDUDKFD BKFDKFIYI NBVRCIC HI ECR;I CDIHB;I; ;D D<FI< EHI<D< ;D<NIWGCDEB;I<=3IRHIFBKIUDKFDS HI NGFGVCINMI NRD EITFIK;G GFCI WDCFBDKFD ;D HI UICVBKIHB;I; RCYIKISHI HHDVI;I ;D HG< BKUBVCIKFD< Q <R< ;RCI< EGK;BEBGKD< ;D WB;I Q FCIYIZG= 8K FDUIIUTHBIUDKFD ;GERUDKFI;G DK *<FI;G< 8KB;G< TGC eIEGY 'RVR<F &BB< Q +DtB< {BEXnD< !BKD ^RD <D BKFDCD<IK TGC UG<FCICKG< DH URK;G ;D HG< KBdG< FCIYIZI;GCD< Q HI<BFRIEBLK ;D HG< BKUBVCIKFD< DK HI *HHB< "<HIK;= eRKFG EGK D<FI NGFGVCINMI ;D ;DKRKEBI<GEBIHS FIUYB_K <D EITFIK ;B<FBKFG< UGUDKFG< ;D HI EGFB;BIKB;I;5 KIEBUBDKFG<S YIRFBXbG<S EI<IUBDKFG< Q ;DNRKEBGKD< ^RD;ICGK CDVB<FCI;G< DK UIQGC G UDKGC VCI;G ;D<;DEGUBDKbG< ;DH <BVHG ``=

$IUYB_K ;DKFCG ;D HI NGFGVCINMI ;D ;DKRKEBI TG;DUG< BKEHRBC I .IKRDH 'HWICDb-CIWGS UDcBEIKGS EGKFBKRI;GC ;D !RVG -CDaUD D BKNHRB;G TGC HI< WB<BGKD< WIKVRICX;B<FI< ;D *;tIC; {D<FGK Q $BKI .G;GFFB Q HI< ;DH <RCCDIHB<UG= #R IEFBWB;I; ZRKFG IHG< URCIHB<FI< UDcBEIKG< HG RYBEI DK RKI WIKVRIC;BI UBHBFIKFD Q <D ;D<DUTDdIC\DKFCD fghp Q fgAg EGUG NGFLVCING ;DH #BK;BEIFG ;D $CIYIZI;GCD< ;D HI 3CG;REEBLK0BKDUIFGVC\NBEI= *K fgpA aIED <R TCBUDCI *cTG<BEBLKS ZRKFG EGK 0ICFBDCX-CD<<GKS DKDH 3IHIEBG ;D -DHHI< 'CFD< ;D ._cBEG Q DK fgj@ NGCUIC\ DH .R<DG ;D HI 2GFGVCINMI ;D._cBEG=

*H FDUI ;D HI TCDGERTIEBLK TGC HG< BK;MVDKI< aI <B;G CDFGUI;G DK HI <DVRK;IUBFI; ;DH <BVHG ``= 2BVRCI< EGUG eRIK &RHNGS *KCB^RD -G<FDHUIKS 7CIEBDHI "FRCYB;DS8C<RHI -DCKIFaS &RFa +DEaRVIS 2HGC 7IC;RdG Q .ICBIKI 1IUTGH<nQ CDWB<ICGK <RTCGYHDU\FBEI Q TCGNRK;BbICGK <GYCD HI BUTGCFIKEBI ;DH CBFRIH Q HI< NGCUI< ;D BKFDCCDXHIEBLK <GEBIH ;D <R< EGURKB;I;D<= $IUYB_K 0HIR;BI 'K;kZIC aI ;GERUDKFI;G HI TCGXYHDU\FBEI D<TDEBIH ;D HG< BK;MVDKI< ;DH 'UIbGKI< Q <R ECDEBDKFD TDHBVCG ;D ;D<ITICBEBLK=%FCG< NGFLVCING< YCI<BHDdG< EGUG eG<_ .D;DBCG< Q .BHFGK 7RC\K UG<FCICGKS RKI<WDED< DH ;D<EGKEBDCFG Q GFCI< RKI UDbEHI ;D <GCTCD<I Q I;UBCIEBLKS DK BU\VDKD<EGKNCGKFI;I< ;DH BK;MVDKI EGK HG< IWIKED< FDEKGHLVBEG<= .D;DBCG< HG aBbG I UD;BIX;G< ;D <BVHG EGK FCBYR< ;DH .IFG 7CG<<GS Q 7RC\K DK HG< KGWDKFIS DKFCD HG< BK;BG<QIKGUIUB= *CI DH I;BL< I HI FDCVBWDC<I;I BUIVDK ;DH BK;MVDKI DK D<FI;G ;D TCBUBVDKBIIY<GHRFI=

8KI ;D HI< NBVRCI< ;D HI EGCCBDKFD <GEBIH D< DH YCI<BHDdG #DYI<FBIG #IHVI;GS UBDUYCG;D HI IVDKEBI .IVKRU ;D<;D fgsg= *K <R< TCBUDCG< FCIYIZG< UG<FCL HI< EGK;BEBGKD<;D D<EHIWBFR; ;D HG< FCIYIZI;GCD< ;D HI< UBKI< ;D GCG ;D #BDCCI 3DHI;IS -CI<BH= !ICDIHBbI;G KRUDCG<G< CDTGCFIZD< ^RD HD aIK TDCUBFB;G IYGC;IC FDUI< CDHIEBGKI;G<EGUG HI VRDCCIS DH aIUYCDS HI UG;BNBEIEBLK ;D HG< <B<FDUI< ;D TCG;REEBLKS HI EGKFIUBXKIEBLK Q HI RFBHBbIEBLK ;D HI< CDHBVBGKD< EGUG NGCUI< ;D EGKFCGH Q ;D TG;DC= *KFCD <R<<DCBD< ;GERUDKFIHD< TG;DUG< ;D<FIEIC "U\VDKD< FC\VBEI<S U\<EICI< ;D D<TDCIKbI S +G< CDNRVBI;G<S +G< <BK FBDCCI Q /cG;G< = *K fggs TRYHBEL <R HBYCG $DCCI EGK ;CIU\FBEI<D<EDKI< <GYCD HI< EGURKB;I;D< IVCMEGHI< ;DH -CI<BHS DH _cG;G CRCIH Q DH aIEBKIUBDKFGDK HI TDCBNDCBI ;D HI< VCIK;D< EBR;I;D<=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hhA

h= 2%$%7&'26' 1 O',78'&)"'

+I CDHIEBLK ^RD <D D<FIYHDED DKFCD HI NGFGVCINMI Q HG< TCBUDCG< UGWBUBDKFG< WIKXVRIC;B<FI<S <GYCD FG;G DK HI TH\<FBEIS IEGKFDEDK FCI< HI " 7RDCCI .RK;BIH= *K D<FDKRDWG TIKGCIUI <D aIED aBKEITB_ DK HI TCDGERTIEBLK TGC DH BKFDKFG ;D <BUTHBNBEIC HG<DHDUDKFG< EGUTG<BFBWG< Q HI ;DNBKBEBLK ;D RKI D<FCREFRCI D<DKEBIHUDKFD VDGU_FCBEI=+I -IRaIR<S TDCG <GYCD FG;G DH 2RFRCB<UG Q DH #RCCDIHB<UGS WIK I UG;BNBEIC HI WB<BLKFCI;BEBGKIH ;D HI CDIHB;I;S BKEGCTGCIK;G RK KRDWG HDKVRIZD DcTCD<BWG ^RD ;IC\ EGUGCD<RHFI;G RKI WB<BLK ;B<FGC<BGKI;IS CDNHDcBWI Q U\< TDC<GKIH= 2BVRCI< EGUG +I<bHG.GaGHQX,IVQS .IK &IQS HG< aDCUIKG< -CIVIVHBIS 3IRH #FCIK; G !DKCB 0ICFBDCX-CD<X<GKS UICEIC\K RK KRDWG ;DCCGFDCG DK HI NGFGVCINMIS ^RD NRD NDHBbUDKFD ITCGWDEaI;GTGC HG< NGFLVCING< IUDCBEIKG<= *KFCD HI< BKNHRDKEBI< ^RD TCGTBEBICGK HI BKFCG;REEBLK;D HI WIKVRIC;BI NGFGVC\NBEI DK "YDCGIU_CBEI KG ;DYDUG< GHWB;IC HI CDIHBbIEBLK DK._cBEG ;D HI *cTG<BEBLK "KFDCKIEBGKIH ;DH #RCCDIHB<UG :fgh@>S YIZG HI EGGC;BKIEBLK;D 'K;C_ -CDFLKS 0_<IC .GCG Q {GHNVIKV 3IIHDKS KB DH BKNHRZG ;D HI HBFDCIFRCIS HITBKFRCIS Q <GYCD FG;G DH EBKD EGK HI NBVRCI ;D *B<DK<FDBK=

*H BKFDC_< TGC HI VDGUDFCMIS DH ZRDVG ;D HRbS HI THI<UIEBLK ;DH UGWBUBDKFGS HI BK<DCXEBLK ;D HI NGFGVCINMI DK DH URK;G D;BFGCBIHS HI RFBHBbIEBLK ;DH EGHHIVD< Q ;D KRDWI<F_EKBEI<S UICEIC\K DH KRDWG CRUYG= 3DC<GKIZD< EGUG $BKI .G;GFFB ^RD BUTHIKFI RKINGCUI TRCI ;D CDIHBbIC NGFGVCINMI<S [<BK FCREG< KB UIKBTRHIEBGKD<]S WIK I UG;BNBEIC D<INGCUI FCI;BEBGKIH ;D aIEDC NGFGVCINMI= .G;GFFB HHDVI I ._cBEG DK fg?p IEGUTIdIK;GI *;tIC; {D<FGKS TCGWGEIK;G DH EIUYBG aIEBI HI UG;DCKB;I; Q <RTDCIK;G HI NGFGXVCINMI TIB<IZM<FBEI Q EG<FRUYCB<FIS DKFGKED< EGK<GHB;I;I=

+I *cTG<BEBLK ;D NGFLVCING< UDcBEIKG< CDIHBbI;I DK fg?j Q GCVIKBbI;I TGC 'KFGXKBG 7IC;RdGS CDRKMI FCIYIZG< ;D !RVG -CDaUDS &GYDCFG '= $RCKYRHHS +BYCI;G 7ICEMI:[#UICFa]>S $BKI .G;GFFB Q .IKRDH 4HWICDb -CIWG UG<FCIK;G HI EGDcB<FDKEBI DKFCDFCI;BEBLK Q WIKVRIC;BI= )G< IdG< ;D<TR_< HG< !DCUIKG< OICVI< DK 'CD^RBTI :3DCk>EGUDKbICGK I BKWD<FBVIC EGK HI HRb Q <R< DNDEFG< ;CIU\FBEG< ;D EGKFCI<FD<=

+GHI 'HWICDb -CIWGS ERQI GYCI TCD<DKFI RKI EHICI BKNHRDKEBI ;D $BKI .G;GFFB Q*;tIC; {D<FGKS FCIYIZL DK DH "K<FBFRFG ;D "KWD<FBVIEBGKD< *<F_FBEI< :8,'.>= #RGYCI FBDKD EHICI< CDUBKB<EDKEBI< EGK HG< GYZDFG< <RCCDIHB<FI< Q DHDWI HG< GYZDFG< EGFBX;BIKG Q GFCI <GYCD *H TIB<IZD DK HI TH\<FBEI ;D ._cBEG :fgAh>=

+I TCDGERTIEBLK ;D D<FI WIKVRIC;BI UDcBEIKI ^RD I;DU\< ;D {D<FGK Q .G;GFFBBKFDVCIYIK .IKRDH 'HWICDb -CIWG Q +GHIS <R URZDCS 'VR<FMK eBU_KDb Q *UBHBG 'UDCGCI;BEIYI DK DH ;D<DG ;D DcTDCBUDKFIC EGK HI BUIVDK FIKFG I TICFBC ;D BKKGWIEBGKD<F_EKBEI< EGUG EGK HI RFBHBbIEBLK ;D KRDWG< FDUI<= 3DCG HI NGFGVCINMI ;D D<FG< UGUDKXFG< KG TRD;D ;D<HBVIC<D ;D HI WIKVRIC;BI TBEFLCBEI ;D HG< URCIHB<FI<S <GYCD FG;G ;D)BDVG &BWDCIS eG<_ 0HDUDKFD %CGbEG Q )IWB; 'HNICG #B^RDBCG<= *<FI WBKERHIEBLK DcXTHBEI <R EIC\EFDC ;GERUDKFIH Q <R BKFDC_< TGC TCD<DKFIC DH <RYRCYBGS HG UICVBKIH QIR<FDCG Q DcIHFIC DH WIHGC ;D HI< TD^RDdI< EG<I<=

*KFCD HI< VDKDCIEBGKD< U\< EGKFDUTGC\KDI< Q WBKERHI;I< EGK UGWBUBDKFG< ;DWIKVRIC;BI IEFRIHD< TG;DUG< <DdIHIC RKI VCIK WICBD;I; ;D D<FBHG<S ;D<;D HDKVRIZD<KDG<RCCDIHB<FI<S EGKEDTFRIHD<S NGFGECDIEBLK F_EKBEIS KDGDcTCD<BGKB<UG aI<FI CDIHB<UG



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hhi

{'+$*& &*8$*&= %2&*,)' 1 )*O%0"J, S ./`"0%=



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hhs

.',8*+ 4+O'&*9 -&'O% :./`"0%>= 4,7*+*# *, 0'."J, :fgp@>=

8&#8+' -*&,'$! :./`"0%>= 2"*#$' 78')'+83',' :0=fgAA>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hhj

NIKF\<FBEG Q NGFGKDG;BKIUB<UG= *<FG ZR<FBNBEI HI VCIK ;BWDC<B;I; ;D FDK;DKEBI< ^RDIEFRIHUDKFD EGKWBWDK DK HI WIKVRIC;BI BYDCGIUDCBEIKI= ,G FDK;CMI <DKFB;G BKEHRBCI^RM RKI HICVI HB<FI ;D NGFLVCING< ERHFBWI;GCD< ;D HI< UB<UI<S IRK^RD <MS TGC <BUTHDBKEHBKIEBLK TDC<GKIH Q TGC HG TICFBERHICUDKFD IFCIEFBWI< ^RD KG< CD<RHFIKS ^RDCDUG<UDKEBGKIC HI< DcTDCBUDKFIEBGKD< ;DH VRIFDUIHFDEG +RB< 7GKb\HDb 3IHUI DK HI< ^RDIYGC;I HG< UBFG< ;D FCI;BEBLK UIQI I FCIW_< ;D IHDVLCBEG< CDFCIFG< ;D BK;MVDKI<SUREaI< WDED< EGKWDCFB;G< DK \KVDHD<S EGK RKI EHICI BKFDKEBLK ;D CDBWBK;BEIC I RKTRDYHG DK EGK<FIKFD HREaI TGC TCD<DCWIC <R ERHFRCI Q IHEIKbIC HI ;D<DI;I ZR<FBEBI<GEBIH=

A= 2%$%7&'26' 1 &*O%+80"J,

*WB;DKFDUDKFDS HI NGFGVCINMI KG <D RFBHBbL DK "YDCGIU_CBEI EGK RK EIC\EFDC DcEHRX<BWIUDKFD CDFCIFM<FBEG G EG<FRUYCB<FI G ;D KRDWI DcTDCBUDKFIEBLK ECDIFBWI EGUG aDXUG< WB<FG aI<FI IaGCIS <BKG ^RD <D EGKWBCFBL DK RKI aDCCIUBDKFI Q RK ICUI ;D HREaIQ ;D ;DKRKEBI TGHMFBEI D B;DGHLVBEI= $DKDUG< IHVRKG< TCDED;DKFD<S EGUG HG< ;IVRDXCCGFBTG< ;D HI YIFIHHI ;DH #IHFBHHG ;D fjhsS TDCG <DC\ I TICFBC ;D HI 7RDCCI ;D #DED<BLKDK *<FI;G< 8KB;G< ERIK;G DH TITDH ;DH NGFLVCING ;D VRDCCI <D WDC\ DKIHFDEB;G=

*KEGKFCIUG< KRUDCG<G< DZDUTHG< DK DH EGKFBKDKFD IUDCBEIKG ;D NGFGVCINMI< ^RDKICCIK DH ;D<ICCGHHG ;D IEGKFDEBUBDKFG< Y_HBEG<S ;D<;D HI 7RDCCI ;D HI $CBTHD 'HBIKbIDKFCD 'CVDKFBKIS -CI<BH Q 8CRVRIQ NCDKFD I 3ICIVRIQ ^RD ;BL GCBVDK DK .GKFDWB;DG;DH *<FR;BG NGFGVC\NBEG -IFD< Q 0MI= aI<FI HI 7RDCCI ;DH 3IEMNBEG :fjsgXfjj?> ^RDDKNCDKFL I 3DCk Q -GHBWBI EGK 0aBHDS Q ^RD NRD ;GERUDKFI;I TGC *;tIC; 0HBNNGC;#TDKEDC= ,G <LHG DKEGKFCIUG< EGKNHBEFG< ICUI;G< ;GERUDKFI;G< TGC HG< NGFLVCING<SFIUYB_K DK fjj@ <D EITFICGK HI< 0IUTIdI< IH )D<BDCFG TGC DH NGFLVCING 'KFGKBG3GbbG ^RBDK IEGUTIdL IH *Z_CEBFG ICVDKFBKG DK <R< IEEBGKD< ;D [TIEBNBEIEBLK] EGKXFCI HG< BK;MVDKI<=

qRBb\< IHVRKI< ;D HI< NGFGVCINMI< U\< NIUG<I< ;D D<D UGUDKFGS <GK HI< ^RD KICCIKHG< TCGED<G< ;D BK;DTDK;DKEBI ;D 0RYI Q 3RDCFG &BEG DK fjgj Q ^RD NRDCGK THI<UIX;I< ;RCIKFD ;_EI;I< TGC NGFLVCING< ;D ;BWDC<I TCGED;DKEBI= +I< VRDCCI< EBWBHD< FIUXYB_K NRDCGK NGFGVCINBI;I<S TR;B_K;G<D ;D<FIEIC I -DKZIUMK &BWI;DKDBCI DK *ERI;GCS!DKCB^RD 'WCBH DK ODKDbRDHI Q .DHBFLK &G;CMVRDb DK 0GHGUYBI= 2RD DH UDcBEIKG'VR<FMK OMEFGC 0I<I<GHI ^RBDK BUTRH<L HG< CDTGCFIZD< NGFGVC\NBEG< ;GERUDKFIK;G HI&DWGHREBLK .DcBEIKI ;D *UBHBIKG 9ITIFI Q 3IKEaG OBHHIS Q ^RD <D EGKWDCFBC\ DK RKIEGK<FIKFD ;DKFCG ;D HI NGFGVCINMI ;D FDU\FBEI CDWGHREBGKICBI=

*H TDCMG;G ;D DKFCDVRDCCI< ;BG TI<G IH ;D<ICCGHHG ;D RK TDCBG;B<UG VC\NBEG ^RD <DaIYMI TRD<FG I TCRDYI DK HI TCBUDCI VRDCCI URK;BIH= +I TCGTBI VRDCCI EBWBH D<TIdGHI<DCMI RK FDUI ECREBIH ;DKFCG ;D HI NGFGVCINMI ;D VRDCCI= )DYDUG< ;D<FIEIC I^RMS HINBVRCI ;D &GYDCF 0ITI ^RD ;GERUDKFL HI VRDCCI EBWBH D<TIdGHI Q NRK;L DK fghs HI'VDKEBI .IVKRUS <BK ;R;I RKI ;D HI< BK<FBFREBGKD< U\< BUTGCFIKFD< Q EGK U\<TCGQDEEBLK DK DH URK;G ;D HI< ^RD IVCRTICGK I NGFGTDCBG;B<FI<=

3GEG< IEGKFDEBUBDKFG< aIK FDKB;G FIKFG BUTIEFG TGHMFBEG DK DH EGKFBKDKFD IUDCBXEIKG DK HI <DVRK;I UBFI; ;DH `` EGUG HI &DWGHREBLK 0RYIKI DK fgAg Q DH TCGED<G^RD DHHI ;D<DKEI;DKL= +I NGFGVCINMI KG TG;MI D<FIC IR<DKFD ;D<;D HI< FGUI< ;GERX



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hhg

8,"$*) 3&*## ",$*&,'$"%,'+= &*O%+80"%,'&"%# 08-',%# :fgAg>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hA@

UDKFIHD< ;D HI BK<RCVDKEBI aI<FI HI IEEBLK TCGTIVIK;M<FBEI ;DH KRDWG *<FI;G= 3CGYIXYHDUDKFD HI NBVRCI U\< CDTCD<DKFIFBWI <DI DH ERYIKG &IkH 0GCCIHD< ^RD ;GERUDKFL DH;D<DUYICEG ;D 3HIQI 7BCLK Q <D ;D;BEL I CDVB<FCIC HG< IEGKFDEBUBDKFG< aB<FLCBEG< ;D<R TIM< EDKFC\K;G<D DK HG< IdG< <D<DKFI= %FCI NBVRCI EHIWD D< 'HYDCFG )MIbS [oGC;I]SIRFGC ;D 7RDCCBHDCG aDCGBEG S HI NGFGVCINMI U\< NIUG<I ;DH 0a_ 7RDWICIS EGKWDCFB;I QIDK BEGKG RKBWDC<IH=

*K HI IEFRIHB;I;S HI NGFGVCINMI aI ED;B;G FDCCDKG I HI FDHDWB<BLK DK HG ^RD I HI<KGFBEBI< ;DH ;MI I ;MI EGKEBDCKD Q DK TICFBERHIC I HI< BU\VDKD< ;D CDWRDHFI< <GEBIHD<SEGKNHBEFG< TGHMFBEG<S DFE= #BK DUYICVGS HI TIKFIHHI FCIK<UBFD HI< UB<UI< ;D UIKDCI FIH^RD DH D<TDEFI;GC <RDHD <DKFBC<D TICFD ;D RK D<TDEF\ERHG UD;B\FBEGS UREaI< WDED<

NCMWGHGS IH ^RD I<B<FD TI<BWIUDKFDS RK TITDH ^RD TGC HG VDKDCIH KRKEI aI I<RUB;G DHNGFGTDCBG;B<UG=

*O',)&% $*"`*"&' :-&'#"+>= &*O%+80"J, )* +%# *#$8)"',$*# :fgij>=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hAf

#*+*00"J, )* ".47*,*#

2"++'$ :8&878'1>= +' 2'."+"' 21,, *, [+' 0!",*#0'] :0=fg?@>

+I EGK<FCREEBLK ;D HI qRBKFI [+I 0aBKD<EI]S DK DH ECRED ;D HI IWDKB;I 'VCIEBI;IEGK 0ITRCCGS DK .GKFDWB;DGS NRD DKEICVI;I TGC *KCB^RD 2QKK IH IC^RBFDEFG NCIKE_<OMEFGC &IYk DK DH kHFBUG ERICFG ;DH <BVHG `"`= ' D<FD TCGND<BGKIH <D HD IFCBYRQD GFCI;D<FIEI;I CD<B;DKEBIS HI ;D $GU\< *I<FUIK :fjj@> vFIUYB_K HHIUI;I qRBKFI ;D HI<&G<I<v DK D<FBHG KDG\CIYDS EGK HG ERIH ^RD;I DWB;DKEBI;G DH VR<FG NBKB<DERHIC TGCHI< EGCCBDKFD< aB<FGCBEB<FI<S DcGFBEB<FI< Q DEH_EFBEI< ^RD <D WDKMIK TGFDKEBI;G ;D<;D*RCGTI= +I TCD<DKFD NGFGVCINMI ;D 2BHHIF D< RK FD<FBUGKBG ;GERUDKFIH KG <GHIUDKFDTGC UG<FCIC RKI CD<B;DKEBI QI ;D<ITICDEB;IS <BKG FIUYB_K ;D<;D DH TRKFG ;D WB<FI<GEBIHS DcaBYBDK;G I RKI NIUBHBI DcFDK<I I UIKDCI ;D CDNGCbIC <R< WIHGCD< FCI;BEBGKIXHD<= ,LFD<D ^RD HI IR<DKEBI ;DH ;BNRKFG TIFCBICEI *KCB^RD 2QKK D< <GHWDKFI;I EGK HIEGHGEIEBLKS DK DH EDKFCG ;D HI D<EDKIS ;D <R CDFCIFG DK UICEG GWIHI;G=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hA?

',$%,"% 3%99% :'&7*,$",'>= $%&&* )* -'-*+ :0=fjj@>

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hAp

[,G <GK NCDERDKFD< DK HI 'CVDKFBKI ;DH <BVHG `"` HI< NGFGVCINMI< ICUI;I< EGKUGKFIZD<= *K D<FD EI<GS DH EGKGEB;G NGFLVCING 'KFGKBG 3GbbG CDIHBbI D<FI EICBEIFRCITGHMFBEI <GYCD RK ;BYRZG GCBVBKIH ;D 2= .IEMI<S DK HI ERIH <DdIHI HI BKEGUTCDK<BLK DBKEGUTIFBYBHB;I; ;D HG< EIK;B;IFG< I<EDK;BDK;G Q EIQ_K;G<D ;D RKI $GCCD ;D -IYDHSDK RK BKFDKFG ;D CDNHDZIC HI EIK;B;IFRCI ;D 'CB<FLYRHG ;DH OIHHD I HI VGYDCKIEBLK ;D HITCGWBKEBI ;D -RDKG< 'BCD<= 'H TBD ;D HI UB<UIS DH NGFLVCING CDIHBbL RKI IRFGEICBEIFRCI;D <R FCIYIZG EGK HI E\UICI]= 3GbbGS KIEB;G DK fj?gS QI aIEBI fjA@ [IEFRIYI EGUG‹NGFLVCING URKBEBTIHm I HI WDb ^RD TG<DMI RK D<FR;BG TICFBERHIC= *< CDEGKGEB;G TGC HI<BU\VDKD< ;DH VDKDCIH 8C^RBbI DK 3IHDCUGS DK UGUDKFG< BKUD;BIFIUDKFD TG<FDCBGCD< IHI -IFIHHI ;D 0I<DCG< :fjA?>S Q FIUYB_K EGUG NGFLVCING GNBEBIH ;DH 2DCCGEICCBH ;DH%D<FD Q TGC HG< CDFCIFG< CDIHBbI;G< I KRUDCG<I< TDC<GKIHB;I;D< ;D HI TGHMFBEI ICVDKFBXKI= '<BUB<UGS HI BUTGCFIKEBI ;D <R HIYGC CI;BEI DK aIYDC IEGUTIdI;G IH 7DKDCIH&GEI DK <R 0IUTIdI IH )D<BDCFG CDVB<FCIK;G EGK D<FI <DCBD HI GERTIEBLK FDCCBFGCBIH ;DHI 3IFIVGKBI===]=

:*K5 2GFGVCINMI +IFBKGIUDCBEIKI= 0GHDEEBLK 0*)%)'+ = -RDKG< 'BCD<S 0*)%X)'+l ?@@fS 3\V= Ai>=

e8', .',8*+ 2"78*&%' '9,'& :3*&r>= 0%.3'P6' )* '&$* ",0'"0%=)&'.' %++',$'1 S 08#0% :fg?p>

)DKFCG ;D HI< EGCCBDKFD< ;D CD<EIFD ;DH ICFD TCDaB<T\KBEG Q <R< ITHBEIEBGKD< DK HI<ECDIEBGKD< EGKFDUTGC\KDI<S RK ITICFI;G ;D DcEDTEBLK HG <RTGKDK HI< GYCI< FDIFCIHD<^RD D<EDKBNBEICGK aB<FGCBI< Q HDQDK;I< ;D HG< FBDUTG< TCDF_CBFG< ;D 'U_CBEI= *< BK;RX;IYHDS DK DH <DKFB;G <DdIHI;GS DH BKNHRZG ^RD <RTR<BDCGKS DK D<EDKGVCINMI<S WD<FRICBG QGFCG< I<TDEFG<S HG< YIHHDF< CR<G< DcBFG<G< DK *RCGTI= )DH EGKFBKDKFD IUDCBEIKG TG;DXUG< <DdIHIC HI< ;DEGCIEBGKD< ;DH ICVDKFBKG 'HNCD;G 7GKb\HDb 7ICIdG TICI DH YIHHDF0IITGC\ :fgfs> BK<TBCI;G DK RKI HDQDK;I VRICIKMS EGK ICVRUDKFG ;D &BEIC;G 7uBCIHX;D< Q Uk<BEI ;D 3I<ERIH ;D &GVIFB<S TDCG <GYCD FG;GS HI TCD<DKFIEBLK DK DH $DIFCG0GHLK ;D -RDKG< 'BCD<S DK fg?pS ;D HI 0GUTIdMI 3DCRIKI ;D 'CFD "KEIBEGS ^RD TR<GDK D<EDKI HI GYCI %HHIKFIQ = +RB< OIHEICEDHS EIFD;C\FBEG ;DH 0R<EGS CDIHBbL DKFGKED<RKI ;B<DCFIEBLK EGK WB<FI< EBKDUIFGVC\NBEI< Q Uk<BEI DZDERFI;I IH TBIKG TICI DcTHBEICHG< EGKFDKB;G< ;D D<FI< GYCI<= +G< IEFGCD<S BK;MVDKI< ER<^RDdG<S TG<ICGK TICI DH QITCD<FBVBG<G NGFLVCING eRIK .IKRDH 2BVRDCGI 'bKIC=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hAh

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hAA

',' .*,)"*$' :08-'>= %, 7"O",7 +"2* S "%{' :fgsA>

&DNBCB_K;G<D I 'KI .DK;BDFIS DH TCD<FBVBG<G ECMFBEG ;D ICFD Q DK<IQB<FI ERYIKG7DCIC;G .G<^RDCI INBCUL ^RD [HI ICFB<FI <BKFBL <BDUTCD RKI D<EB<BLK EGUG EGK<DXERDKEBI ;DH DcBHBG= *HHI UBFBNBEL HI< CDHBVBGKD< INCGERYIKI< QS DK VDKDCIHS <R< EGKGEBXUBDKFG< HBYCD<EG< ;D HI< ERHFRCI< TCDaB<T\KBEI< ;D ._cBEG Q +I< 'KFBHHI< aIEBI RKIGTDCIFBWB;I; ICFM<FBEI Q TDC<GKIH= 7CIK TICFD ;D <R GYCI EGK<B<FD DK RK IEFG kKBEG5NRK;BC<D EGK DH UD;BG KIFRCIH] $CIK<ECBYD NCI<D< ;D HI TCGTBI .DK;BDFI5 [.D aDHIKbI;G ;DKFCG ;D HG< DHDUDKFG< UB<UG< ^RD UD TCG;RZDCGKS R<IK;G HI FBDCCI EGUG UBHBDKbG Q UB IHUI EGUG UB< aDCCIUBDKFI<]= 1 <BVRD .G<^RDCI5 [+I GY<D<BWI CDTDFBEBLK;D D<FD VD<FG TG<DD RK NRDCFD <DKFB;G EDCDUGKBIH= .\< IHH\S D< RK CBFG DK <DKFB;GD<FCBEFGS TRD< <R EIC\EFDC TDCNGCU\FBEG <D DKERDKFCI EICVI;G ;D CDHBVBG<B;I;S EGK<FBFRX

QD RK IEFG UM<FBEG HHDKG ;D <BVKBNBEI;G< TDC<GKIHD<= 3GC RK HI;GS DHIYGCI RKI HICVIUDF\NGCI ;DH CDVCD<G I HG D<DKEBIHS EGK<FCRM;I ;D<;D <R ‹<D; ;D <DCmS EGUG INBCUL DHHIUB<UI= 3GC GFCGS TGCFI RKI DcTDCBDKEBI FCI<EDK;DKFIHS RKI aBDCGNIKMI MKFBUI]=

:.%#q8*&'S 7DCIC;G= 'CFDS &DHBVBLK Q )BNDCDKEBI 0RHFRCIH = *K5 aFFT5„„ttt=CDTHBEI?f=EGU„ICEaBWG„U’K„ps’UG<^RDCI’UDK;BDFI=aFUH = #DTFBDUYCD ;D ?@@h>=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hAi

'3/,)"0* )%08.*,$'+

"= Œ,% #* .8*O' .4#f

8KI EBR;I; ERIH^RBDCIS aIEBI fji@= 8K TI<DIKFD ;DIUYRHI TGC HI IWDKB;I ;DUG;I= #D DKERDKFCI EGK DH D<EITICIFD ;D RK NGFLVCINGS CDTHDFG ;D CDFCIFG< ;D IEFGCD<STGHMFBEG<S UBHBFICD< Q ;DU\< EDHDYCB;I;D< ;DH UGUDKFG= )DEB;D EGUTCIC IHVRKI< ;DD<FI< NGFG< QS ;D TI<GS aIEDC<D RKI <DCBD ;D FICZDFI< ;D WB<BFI EGK <R TCGTBG CDFCIFG=*KFCI DK DH TGCFIH Q <RYD IH \FBEGS ;GK;D <D DKERDKFCI DH D<FR;BG ;DH NGFLVCING= #D<BDKFI DK RK <BHHLK ;D HI <IHI ;D D<TDCI Q aGZDI ;B<FCIM;IUDKFD HG< \HYRUD< ;D NGFG<S;B<TRD<FG< DK HG< WDHI;GCD<= *HBVD HI< BU\VDKD< ^RD <D HHDWIC\ ;D CDERDC;G Q ITRKFIHG< KkUDCG< ;D CDNDCDKEBI ;D HG< EHBEa_<= +RDVG DKEICVI I RK DUTHDI;G HI< EGTBI<EGCCD<TGK;BDKFD<=

+I< NGFGVCINMI< ;D HG< \HYRUD< FIUYB_K <BCWDK IH TI<DIKFD TICI TCDTICIC HI DcTCDX<BLK Q TG<FRCI ^RD FGUIC\ ERIK;G HD HHDVRD DH FRCKG ;D <DC CDFCIFI;G= 0RIK;G TGC NBKHD FGEIS DKFCI RK UGUDKFG DK DH HIWIYG Q <D IEBEIHI DK DH D<TDZG= )D<TR_< TI<I I HIVIHDCMIS RKI aIYBFIEBLK ERQI TICD; GCBDKFI;I IH KGCFD D<F\ BKEHBKI;I Q IECB<FIHI;I= 8K ZRDVG ;D EGCFBKI< Q FGH;G< CDVRHI HI BHRUBKIEBLK ;D HI VIHDCMIS ^RD TCD<B;D RKI TD<I;IQ DKGCUD EIZI EGK RK TIdG KDVCGS RKI D<TDEBD ;D EITREaIS DK RKG ;D <R< HI;G<= *<FDITICIFGS YI<FIKFD BKFBUB;IFGCBGS D< RKI E\UICI G<ERCI Q D<F\ UGKFI;G <GYCD RK FCMTGX;D ;D UI;DCI= )DHIKFD ;D HI U\^RBKI <D <BFkI DH D<EDKICBG DK DH ^RD TG<IC\ DH TI<DIKXFD= *K _H aIQ EGCFBKI<S FDHGKD< TBKFI;G< Q IHNGUYCI<S I<M EGUG RK WDHI;GCS RK <BHHLKSRKI EGHRUKI Q I WDED< RKI YIHIR<FCI;I= 0GK D<FG< DHDUDKFG< <D EGUTGK;C\ DH CDFCIXFG= #B DH CDFCIFG D< ;D TBDS <GYCIK DH <BHHLK Q DH WDHI;GCS TDCG <GK BUTCD<EBK;BYHD< HIEGHRUKIS DK HI ^RD DH CDFCIFI;G TG;C\ ITGQIC RK YCIbG IH ;D<VIBCDS Q HI EGCFBKIS YBDK;CITDI;IS ^RD <DCWBC\ ;D NGK;G= 1 ERIK;G <DI <DKFI;GS DKFGKED< DH <BHHLK EGK G <BKWDHI;GC <DC\S <BDUTCD ZRKFG I HI EGCFBKIS HG TCBKEBTIH= $IKFG DK RK EI<G EGUG DK DH GFCGD< GYHBVIFGCBG RK DcFCIdG ITICIFG UDF\HBEG DcFDK<BYHDS ;GFI;G ;D WICBD;I; ;D TIHGUBXHHI<= #D FCIFI ;D RK <GTGCFD ^RD <D EGHGEI I HI D<TIH;I ;DH EHBDKFD Q ^RD DH NGFLVCINGIZR<FI EGK HI< TIHGUBHHI< DK HI KREI ;DH CDFCIFI;GS ^RD ;D<;D D<D UGUDKFG KG TRD;DUGWDC HI EIYDbI KB EI<B DH ERDCTG=

)D<TR_<S DH NGFLVCING BHRUBKI I <R EHBDKFD UGWBDK;G HI< EGCFBKI< ;D HI ECB<FIHDCI= +IBHRUBKIEBLK D< NRK;IUDKFIH= *H NGFLVCING <IYD ^RD EGK HRb NCGKFIH HI< UDZBHHI< ;DHCDFCIFI;G <D aRK;DKS <R KICBb <D IVCIK;I Q <R< GZG< Q YGEI <D ;DNGCUIK= 3DCG TDGCIkK D< BHRUBKICHG ;D<;D ICCBYIS QI ^RD DKFGKED< HI HRb DK<IKEaIC\ HI NCDKFDS IaGK;IC\HI< UDZBHHI<S aIC\ <GYCD<IHBC HG< GZG<S ITHI<FIC\ HI KICBbS IVCIK;IC\ HI YGEI Q HDWIKFIC\ HIYICYBHHI= 0GUG KG aIQ RKI NLCURHI RKBWDC<IHS DH NGFLVCING FBDKD ^RD I;DERIC<D IHUG;DHG= 3GC DZDUTHGS TICI HG< ^RD FDKVIK HI NCDKFD YIZIS HG< GZG< <IHFGKD< Q HG< TLURX

f= 2*&,4,)*9S !GCIEBG= [Œ,G <D URDWI U\< &DFCIFG<S NGFLVCING< Q FICZDFI< ;D WB<BFI]= *K5

*KEIKFI;G< ;D EGKGEDC<D= 2GFGVCINMIS CDFCIFG Q ;B<FBKEBLK DK DH <BVHG `"`= 2GK;G< ;D HI 0GHDEX EBLK eRIK eG<_ )MIb 3CL<TDC = OIHDKEBIS .R<DR OIHDKEB‘ ;D HI "HHR<FCIEBL B HI .G;DCKBFIFX.8O".S?@@?S 3\V<= pXs=

!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hAs

HG< TCGUBKDKFD<S DH NGFLVCING UGWDC\ HI< EGCFBKI< TICI ;B<UBKRBC HI HRb <GYCD DH TDCNBH=0GK HG< CG<FCG< CD;GK;G<S <BDUTCD EGUTHBEI;G<S ;DYDC\ BHRUBKIC RK TGEG ;D HI;G QGFCG TGEG ;D<;D ICCBYI <B KG ^RBDCD ^RD ;D<ITICDbEIK HI< HMKDI< ;DH CG<FCG= #IYD ^RDD<F\ FDCUBKIKFDUDKFD TCGaBYB;G BHRUBKIC ;D<;D ICCBYI I HG< EIHWG< Q KICBVR;G<=

.BDKFCI< DH NGFLVCING EGUTGKD HI TG<FRCI Q HI BHRUBKIEBLK ;D <R EHBDKFD DK DHD<EDKICBG ;D HI VIHDKIS IH HI;G RK IQR;IKFD TCDTICI HI THIEI DK RK TD^RDdG HIYGCIFGXCBG EI<B I G<ERCI< ^RD aRDHD I _FDC Q IHEGaGH= 3CBUDCGS DHIYGCI DH EGHG;BLKS ^RD D< RKI;B<GHREBLK ;D IHVG;LK TLHWGCI DK _FDC Q IHEGaGH= +RDVG EGHGEI HI THIEI ;D ECB<FIH DKTG<BEBLK aGCBbGKFIHS DcFBDK;D <GYCD DHHI DH EGHG;BLKS Q NBKIHUDKFD HI BKEHBKI TICI ^RDDH HM^RB;GS ^RD D< RK TGEG D<TD<GS NGCUD RKI <RTDCNBEBD RKBNGCUD <GYCD DH ECB<FIHS EGKERB;I;G ;D KG UGZIC DH CDWDC<G= ' EGKFBKRIEBLKS <RUDCVD HI THIEI ;RCIKFD UD;BGUBKRFG DK RK YIdG ;D QG;RCG ;D THIFIS EGK HG ^RD EGK<BVRD <DK<BYBHBbICHI I HI HRb=+RDVG HI D<ERCCDS D BKUD;BIFIUDKFD ;D<TR_<S HI EGHGEI DK RK EaI<B<S RK UICEG ;DUI;DCIS ^RD EBDCCI aDCU_FBEIUDKFD= +I THIEI QI D<F\ HB<FI=

8KI WDb <RZDFG D BHRUBKI;G DH EHBDKFDS DH NGFLVCING <D EGHGEI IH GFCG HI;G ;D HIE\UICIS D<EGK;D <R EIYDbI ;DYIZG ;DH TIdG KDVCGS UBCI TGC DH GYZDFBWGS DKERI;CISFITI DH GYZDFBWGS EGHGEI DK HI E\UICI G<ERCI DH EaI<B< EGK HI THIEI ^RD HD IEIYI ;DFCIDC DH IQR;IKFDS HG IYCDS GC;DKI IH CDFCIFI;G ^RD KG <D URDWIS <IEI DH CDHGZS ;D<FITIDH GYZDFBWGS UB;D DH FBDUTGS ^RD WICMI DK NRKEBLK ;D HI HRbS Q WRDHWD I FITIC DH GYZDFBXWG5 HI NGFG D<F\ aDEaI= 'aGCI <LHG NIHFI <IEIC HI THIEI ;D HI E\UICIS CDWDHICHI Q ;D<XTR_< NBZICHIS HIWICHIS <DEICHI Q YICKBbICHI= 8K FCIYIZG TICI HG< IQR;IKFD<S ^RD FIUYB_KaIEDK HI< EGTBI< TGC EGKFIEFG <GYCD TITDHS ^RD RKI WDb <DEI<S CDFGEI;I< :<GYCD FG;GDK HG< GZG<S QI ^RD <RDHDK <IHBC DK YHIKEG G YBbEG<> Q YICKBbI;I<S <D CDEGCFIK Q TDVIK<GYCD EICFRHBKI< ;DH FIUIdG ;D RKI FICZDFI ;D WB<BFI=

*K HI <IHI ;D D<TDCI ;D KRDWGS DH EHBDKFD CDEGVD HI< FICZDFI<S TIVI Q <D WI= 0GUTICIHI< NGFG< ^RD aI EGUTCI;G EGK HI< ^RD <D aI aDEaG Q TBDK<I ^RD HI NGFGVCINMI KG D<RKI EBDKEBI DcIEFIS QI ^RD _H KG aI ^RD;I;G FIK YBDK EGUG HI< EDHDYCB;I;D<= 3DCG DKERIKFG <D DKERDKFCD DK HI EIHHD EGK GFCG D<EITICIFD NGFGVC\NBEGS EG<I ^RD KG FIC;IC\KI;IS DH TI<DIKFD ECDDC\ ^RD FG;G FBDKD <GHREBLKS ^RD DK D<FD EI<G I;DU\< D< URQN\EBHl aIEDC<D KRDWI< FICZDFI< ;D WB<BFI=

""= 0890%S *+ +87'& #'7&')%?

*K HI TCBUDCI DcTG<BEBLK ;D NGFGVCINMI HIFBKGIUDCBEIKI DK *RCGTIS CDIHBbI;I DK HIoRK<FaIR< ;D 9RCBEaS DH VCIK IEGKFDEBUBDKFG NRD DH ;D<ERYCBUBDKFG ;D .ICFMK 0aIUXYB= +I YDHHDbI ;D <R< NGFGVCINMI< Q HI BKFDK<B;I; ;D <R DcTCD<BLK EIR<ICGK RKI TCGNRKX;I BUTCD<BLK DKFCD HG< WB<BFIKFD<= #R ;D<FCDbI F_EKBEI DCI BK<RTDCIYHD= #D ;BCMI ^RDaIYMI EIM;G ;DH EBDHG= )D<;D DKFGKED<S .ICFMK 0aIUYB <D aI EGKWDCFB;G DK DH NGFLVCIXNG U\< NIUG<G ;D 'U_CBEI +IFBKIS Q EGKFBKRIUDKFD <D GCVIKBbIK DcTG<BEBGKD< <RQI<DK 'U_CBEI Q *RCGTI= #R GYCI CD<RHFI ;D<HRUYCIKFD DK FG;G< HG< EDCF\UDKD< ;D

?= -"++*$*&S *CBnI= 0IKFG I HI CDIHB;I;= 2GFGVCINMI +IFBKGIUDCBEIKI fji@Xfggp= -ICEDHGKIS+RKtDCVS fggpS 3\V= pf=

&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hAj

NGFGVCINMI HIFBKGIUDCBEIKI= 3DCG ;D<;D DH ;D<ERYCBUBDKFG ;D 0aIUYB aIK B;G ITICDXEBDK;G KRDWI< NRDKFD< Q <D aIK CDIHBbI;G BUTGCFIKFD< BKWD<FBVIEBGKD<= *K DH ERC<G ;DHG< kHFBUG< ;BDb IdG<S TGEG I TGEG <D aI B;G ;BHREB;IK;G HI aB<FGCBI ;D HI NGFGVCINMITDCRIKI ^RDS TGC HG ^RD CD<TDEFI IH <BVHG `"`S QI EGKGEMIUG< VCIEBI< IH FCIYIZG ;D.E*HCGQ Q ^RD IEFRIHUDKFD TG;DUG< EGUTHDFICS DK CDHIEBLK I HI< TCBUDCI< ;_EI;I<;DH <BVHG ``S FCI< DH ;D<ERYCBUBDKFG ;D KRDWG< ICEaBWG< NGFGVC\NBEG<= 0RbEG GERTIRK HRVIC TCDNDCDKFD DK D<FI< BKWD<FBVIEBGKD<= .ICFBK 0aIUYBS IKFD< <GHBFICBGS <D DKXERDKFCI IaGCI CG;DI;G ;D EGHDVI<S ^RBDKD< TRD;DK aIEDC U\< NDERK;I HI aB<FGCBI ;DD<FD NGFLVCING VDKBIH=

)D<ERYCBC 0RbEG EGUG DH EDKFCG ;D RK BK;BVDKB<UG DK DH ^RD .BVRDH 0aIKB QeRIK .IKRDH 2BVRDCGI 'bKIC TCDTICICGK DH EIUBKG I 0aIUYB D< TCBKEBTIHUDKFD U_CBXFG ;D 2DCKIK;G 0I<FCG= *K RK YCBHHIKFD ICFMERHG= 0I<FCG aI ;DZI;G URQ EHICG ^RD D<FICDEGK<B;DCIEBLK ;DH TCGYHDUI BK;BG DK 0RbEG KG NRD EG<I ;D BKFDHDEFRIHD<S <BKG ^RDTICFBL ;D HG< TCGTBG< BK;BG<l IH EGKFCICBG ^RD DK ._ZBEGS ;GK;D DH UGWBUBDKFG NRDEHICIUDKFD TCGUGWB;G TGC HG< ICFB<FI< D BKFDHDEFRIHD< WBKERHI;G< I HI &DWGHREBLK=

)D<;D HG< kHFBUG< IdG< ;DH <BVHGS aI<FI YBDK DKFCI;G< HG< IdG< WDBKFDS aRYG HDWIKXFIUBDKFG< TGTRHICD<= 3ICI 0I<FCGS D<FI< CDYDHBGKD< NRDCGK RKI CDIEEBLK EGKFCI HI DcXTHGFIEBLK TDCUIKDKFD ;D HG< BK;BG< TGC TICFD ;D HG< FDCCIFDKBDKFD< YHIKEG< Q UD<FBbG<5[%ERTIEBLK ;D FBDCCI< ;D HG< BK;BG<S BUTRD<FG< DcED<BWG< D BKZR<FG<S FCIYIZG NGCbI;GSFGCFRCI< Q I<D<BKIFG<l _<G< DCIK HG< CDTCGEaD< ^RD <D aIEMIK IH <B<FDUI NDR;IHS HHIUI;GVIUGKIHB<UG ] :DH VIUGKIH DCI RK FDCCIFDKBDKFD ^RD DZDCEMI <GYCD <R< YCIEDCG< RKIWBGHDKEBI TGC DKEBUI ;D FG;I HDQ>= *K fg?@S <D NRK;L RK 0GUBF_ 3CGX)DCDEaG "K;MVDXKI $IaRIKFBK<RQG TICI UD;BIC DKFCD HG< BK;BG< Q HG< VIUGKIHD<= +G< BK;BG< TCGKFGTR;BDCGK DcTGKDC IYBDCFIUDKFD <R< CDBWBK;BEIEBGKD< QS FCI< HI CDRKBLK ;DH 0GUBF_S <DEGK<FBFRQL RK 3IFCGKIFG ;D HI &IbI "K;MVDKI= +I CDWRDHFI D<FR;BIKFBH ;D fg@g DK HI8KBWDC<B;I; #IK 'KFGKBG 'YI;S DK 0RbEGS D< GFCI ;D HI< NRDKFD< ;DH BK;BVDKB<UG S<DVkK DH aB<FGCBI;GC TDCRIKG eG<_ $IUIQGl ;D RK BK;BVDKB<UG ^RD FBDKD <R GCBVDK DK0RbEG= OICBG< NGFLVCING< WBWBDCGK HG< IEGKFDEBUBDKFG< ;D I^RDH IdG Q DHHG ;DFDCUBKLEHICIUDKFD <R FCIYIZG= *H EGKEDTFG HG ITHBEI TGC WDb TCBUDCI eG<_ #IYGVIH DK <R<TBKFRCI< <GYCD I<RKFG< ;D HI CDVBLK ;D HG< 'K;D<= 2DCKIK;G 0I<FCG INBCUI ^RD ;DYBDXCGK FCIK<ERCCBC ERIFCGEBDKFG< IdG< ;D<;D HI EGK^RB<FI ;D FG< D<TIdGHD<S Q EBDK ;D<;DHI BK;DTDK;DKEBIS TICI ^RD 0RbEG WGHWBD<D I GERTIC ;D KRDWG DH HRVIC ^RD FRWG DKDH TI<I;G5 RK GUYHBVGS RK <BFBG DK DH ^RD DCIK WB<BYHD< HI< aRDHHI< ;D HI GCBVBKICBIRKB;I; EGK DH TIM< :[0RbEG]S D< HI IKFBVRI WDC<BLK ;DH ^RDEaRI EG<EGS ^RD <BVKBNBEIGUYHBVG>=

-"-+"%7&'26'hi@

''=OO=S *H TIM< ;DH qRDFbIH= 7RIFDUIHI UIQI D aB<TIKI S .I;CB;S #GEBD;I; *<FIFIH TICI HI'EEBLK 0RHFRCIH *cFDCBGCS ?@@?=

''=OO=S *H )BWBKG 3BKFGC5 HI ECDIEBLK ;D .ICMI ;D 7RI;IHRTD DK DH FIHHDC EDHD<FBIH S ._cBEGS.R<DG ;D HI -I<MHBEI ;D 7RI;IHRTDS ?@@?=

''=OO=S "YDCGIU_CBEI UD<FBbIS *KERDKFCG ;D TRDYHG< Q ERHFRCI< S .I;CB;S #GEBD;I; *<FIFIH TICIHI 'EEBLK 0RHFRCIH *cFDCBGCS ?@@p=

''=OO=S 2BHBTBKI<S 3RDCFI ;D %CBDKFDS )D +DVIbTB I .IHI<TBKIS .I;CB;S #GEBD;I; *<FIFIH TICI HI'EEBLK 0RHFRCIH *cFDCBGCS ?@@p=

'0%#$'S +DGKIC;GS *H -ICCGEG ;D "K;BI< Q %FCG< *K<IQG< S +I !IYIKIS 0IS 'CFD DK "YDCGIU_CBEIS fj?@Xfgj@ S .I;CB;S *;BFGCBIH $RCKDC qRBKFG0DKFDKICBGS fgjg=

',78+% "P"78*9S )BDVGS .'&0% )%&$'S *KCB^RD Q -890!"'99%S .ICBGS !B<FGCBI ;DH 'CFD !B<TIKGIUDCBEIKG S -ICEDHGKIS #IHWIFS fghAXfgAi=

-'"&)S eG<DTa 'S +G< CDFIYHG< ;DH <BVHG Ò""" DK DH <RC ;D *<TIdIS 3GCFRVIH Q ._cBEG S._cBEGS 8,'.S fgjs=

-'&,*1 0'-&*&'S *RVDKBGS Q GFCG<S !B<FGCBI ;DH ICFD EGHGUYBIKG S s FGUG<S -GVGF\S #IHWIF*;BFGCD< 0GHGUYBIKIS fgss=

-'1J,S )IUB\KS !B<FGCBI ;DH ICFD aB<TIKGIUDCBEIKG S FGUG """ :<BVHG< `"` Q ``>S .I;CB;S*;BFGCBIH 'HaIUYCIS fgjj=

-'1J,S )IUB\KS Q GFCG<S !B<FGCBI ;DH 'CFD 0GHGKBIH #R;IUDCBEIKG S -ICEDHGKIS 3GHMVCINIS fgjg=-'94, )* !8*&$'S .GB<_<S +I D<ERHFRCI UGKRUDKFIH DK +I !IYIKI S 0\EDCD<S 8KBWDC<B;I;

;D *cFCDUI;RCIS fggh=-*&,'+*# -'++*#$*&%#S eGCVDS !B<FGCBI ;DH 'CFD !B<TIKGIUDCBEIKGS #BVHG< Ò" I Ò""" S

.I;CB;S 'HaIUYCIS fgjs=-"++*$*&S *CBnIS 0IKFG I HI CDIHB;I;S 2GFGVCINMI HIFBKGIUDCBEIKIS fji@Xfggp S -ICEDHGKIS +RKtDCV

*;BFGCD<S fggp=0'&&"++% 1 7'&"*+S 'YDHIC;GS $_EKBEI ;D HI TBKFRCI ;D ,RDWI *<TIdI S ._cBEGS 8,'.S fgjp=0'#$*)%S +DGTGH;GS !B<FGCBI ;DH 'CFD Q HI 'C^RBFDEFRCI +IFBKGIUDCBEIKI S -ICEDHGKIS 3GUIBCDS

fgig=0&89 )* '.*,'-'&S "<IYDHS 'CFDS +G UDZGC DK HI aB<FGCBI ;D HI TBKFRCI Q D<ERHFRCI DK 0aBHD

;D<;D HI 0GHGKBI IH <BVHG `` S #IKFBIVG ;D 0aBHDS *;BFGCBIH 'KF\CFBEISfgjh=0!8#$S .IKRDHl .6,78*9S OMEFGC :EGGC;<=>S +I EGK<FCREEBLK ;DH a_CGD DK *<TIdI Q ._cBEG

:fsjgXfjhs> S OIHDKEBIS 8KBWDC<B;I;S ?@@p=)6'9X$&*0!8*+% #36,%+'S .w= +GRC;D<S 2BHBTBKI<S +I VCIK ;D<EGKGEB;I :fAiAXfjgj>S

3IUTHGKIS *8,#'S ?@@f=)8O*&7*&S 0aCB<FBIKS 'VRI Q NRDVGS 'CFD <IECG BK;MVDKI ;D ._cBEG DK DH <BVHG Ò" S ._cBEGS

#IKFIK;DCX#DCNMKS ?@@p=*#$*++' .'&0%#S .ICVICBFIS +I D<ERHFRCI YICCGEI DK UICNBH DK *<TIdIS +I< D<ERDHI< DRCGX

TDI< Q HI< EGHGKBIHD<S .I;CB;S 0#"0S "K<FBFRFG )BDVG ODH\b^RDbS ? FGUG<S fgjh=2*&,4,)*9S eR<FBKGS *<F_FBEI ;DH ICFD UDcBEIKGS 0GIFBEHRDS DH &DFIYHG ;D HG< &DQD<S *H

!GUYCD S ._cBEGS 8,'.X"**S fgg@=v'CFD UG;DCKG Q EGKFDUTGC\KDG ;D ._cBEGS ._cBEGS 8,'.S ? FGUG<S fggp=2*&,4,)*9 7'&06'S 'KI .ICMIS 'CFD Q DUBVCIEBLK5 HI TBKFRCI D<TIdGHI DK -RDKG< 'BCD<

:fjj@Xfgp@> S %WBD;GS 8KBWDC<B;I; ;D %WBD;GS fggs=

-"-+"%7&'26' hif

2+%&*# %0!%'S eGCVD 'SS o8%, '&0*S *HBbIYDFa Q #'.',*9 '&78.*)%S &GYDCFGS3BKFRCI .RCIH DK DH #RC 'K;BKG S +BUIS -IKEG ;D 0C_;BFG ;DH 3DCkS fggp=

7'+" -%')*++'S .GKF<DCCIFS 3D;CG 7ICEMI 2DCCDCS 8K ICFB<FI ICIVGK_< ;DH <BVHG `O"" DK HI ,RDWI *<TIdI S $DCRDHS "K<FBFRFG ;D *<FR;BG< $RCGHDK<D<S fggi=

7'&06' .*+*&%S eG<_ *KCB^RDS Q GFCG<S "KNHRDKEBI< ICFM<FBEI< DKFCD *<TIdI Q 'U_CBEI S.'32&*S .I;CB;S fgg?=

7'&06' #4"9S .ICMI 0GKEDTEBLKS +I 3BKFRCI 0GHGKBIH DK DH .R<DG ;D 'U_CBEI5 +I *<ERDHI .DcBEIKI S .I;CB;S .BKB<FDCBG ;D 0RHFRCIS fgj@=

v+I 3BKFRCI 0GHGKBIH DK DH .R<DG ;D 'U_CBEI5 +G< *KEGKEaI;G< S .I;CB;S .BKB<FDCBG ;D0RHFRCIS fgj@=

v +I< EI<FI< UDcBEIKI<5 RK V_KDCG TBEFLCBEG IUDCBEIKG S .BH\KS %HBWDFFBS fgjg=7"+ $%O'&S 2CIKEB<EG Q '&-*+4*9 0'.'0!%S 0ICHG<S *H 'CFD 0GHGKBIH DK 0GHGUYBI S

-GVGF\S *;BEBGKD< #GH Q +RKIS fgij=78$"/&&*9S &IULK :EGGC;=>S 3BKFRCIS *<ERHFRCI Q 'CFD< rFBHD< DK "YDCGIU_CBEIS fA@@Xfj?A S

.I;CB;S 0\FD;CIS fggA=v -ICCGEG "YDCGIUDCBEIKGS ;D HG< 'K;DS !B<FGCBI ;DH 'CFD "YDCGX

IUDCBEIKG S -ICEDHGKIS +RKtDCVS ?@@@=78$"/&&*9 O"P8'+*#S &G;CBVGS 2DCKIK;G 2I;DCS %YCI Q TDK<IUBDKFG ;D RK TBKFGC ICX

VDKFBKG S #IKFI 2DX-RDKG< 'BCD<S "K<FBFRFG ;D 'U_CBEIX0*)%)'+S fggj=v 'CVDKFBKI Q *<TIdIS )B\HGVG< DK DH ICFD :fg@@Xfgp@> S -RDKG< 'BCD<S 0*)%)'+S ?@@p=v+I TBKFRCI ICVDKFBKI :fg@@Xfgp@>S ";DKFB;I; ,IEBGKIH D !B<TIKB<UG S 7CIKI;IS 8KBWDC<B;I;S

?@@p=v#MKFD<B< aB<FLCBEI ;DH ICFD DK HI 'CVDKFBKI :fssiXfgp@> S 7CIKI;IS #RCS ?@@p=v.GKRUDKFG EGKUDUGCIFBWG Q D<TIEBG TkYHBEG DK "YDCGIU_CBEI S .I;CB;S 0\FD;CIS ?@@h=v :EGGC;=>S 'CFD +IFBKGIUDCBEIKG ;DH <BVHG ``= %FCI< aB<FGCBI< ;D HI !B<FGCBIS 9ICIVGbIS 3CDKX

<I< 8KBWDC<BFICBI<S ?@@A=78$"/&&*9 O"P8'+*#S &G;CBVGl 78$"/&&*9S &IULK :EGGC;<=>S 3BKFRCIS D<ERHFRCI Q NGX

FGVCINMI DK "YDCGIU_CBEIS <BVHG< `"` Q `` S .I;CB;S 0\FD;CIS fggs=78$"/&&*9 O"P8'+*#S &G;CBVGl #8.%9'#S &INIDHS +G TGTRHIC5 UICEG Q UICEI DK HI

ERHFRCI ;DH 3ICIVRIQ S '<RKEBLKS .R<DG ;DH -ICCGS ?@@p=o'$9*{S "HGKIS +I TBKFRCI ;D EI<FI< S .I;CB;S $RCKDCS ?@@h=o*,,*)1S 'HDcIK;CIS 'CFD ;D HI &DIH 'R;BDKEBI ;D qRBFGS <BVHG< `O""X`"`5 TIFCGKG<S EGCTGX

CIEBGKD< Q EGURKB;I;D< S !GK;ICCBYBI :7RBTkbEGI>S ,DCDIS ?@@?=e"./,*9S eG<_l 0'#$&% 2+J&*9S 2DCKIK;G :EGGC;<=>S !GCBbGKFD< ;DH ICFD HIFBKGIUDCBEIKG S

.I;CB;S $DEKG<S fggj=e"./,*9 0%)",'0!S 7RI;IHRTDS ._cBEGS <R FBDUTG ;D KIEDCS fsA@Xfj?fS ._cBEGS 2GK;G

0RHFRCIH -IKIUDcS fggs=+'2'1*S eIE^RD<S qRDFbIHEGIFH Q 7RI;IHRTD5 HI NGCUIEBLK ;D HI EGKEBDKEBI KIEBGKIH DK ._cBX

EG S ._cBEGS 2GK;G ;D 0RHFRCI *EGKLUBEIS fggA=+J3*9 789.4,S &INIDHS Q GFCG<S 3DCk BK;MVDKI Q WBCCDBKIH S .I;CB;S #GEBD;I; *<FIFIH TICI HI

'EEBLK 0RHFRCIH *cFDCBGCS ?@@h=+J3*9 .%,)*e'&S 3RYHBGS Q GFCG<S 0BDK IdG< ;D NGFGVCINMI D<TIdGHI D BYDCGIUDCBEIKI S

.I;CB;S *H OB<GS fgjp=

-"-+"%7&'26'hi?

+80"*X#."$!S *;tIC;S 'CFD +IFBKGIUDCBEIKG ;DH <BVHG ̀ ` S -ICEDHGKIS )D<FBKGS fggh=.'&0% )%&$'S *KCB^RDS 'CFD ;D 'U_CBEI Q 2BHBTBKI< S ['C< !B<TIKBID] OGH= ``"S .I;CB;S

3HR< 8HFCIS fgsp=.*#'S eG<_ Q 7"#-*&$S $DCD<IS !B<FGCBI ;D HI 3BKFRCI 0Rb^RDdI S -RDKG< 'BCD<S "K<FBFRFG ;D

'CFD 'UDCBEIKG D "KWD<FBVIEBGKD< *<F_FBEI<S fgi?=.6,78*9 0%&,*++*#S OMEFGCS +G< CDQD< ;B<FIKFD<5 BU\VDKD< ;DH TG;DC DK DH ._cBEG

WBCCDBKIH S 0I<FDHHLKS )BTRFIEBLKS fggA=v +G< CDQD< <GHICD<5 BEGKGVCINMI I<FCIH ;D HI UGKIC^RMI aB<T\KBEI S 0I<FDHHLKS 8KBWDC<BFIF eIRUD

"S ?@@f=.%&'+*# 2%+78*&'S eG<_ .BVRDHS 0RHFRCI #BUYLHBEI Q 'CFD *NMUDCG DK HI ,RDWI *<TIdI S

#DWBHHIS eRKFI ;D 'K;IHREMIS fggf=v $RKZI= 'FDKI< ;DH CDKIEBUBDKFG DK DH ,RDWG &DBKG ;D 7CIKI;I S .\HIVIS 8KBWDC<B;I;S fggj=.8*# %&$#S 3IRHIS eG<_ ;D "YICCIS 3BKFGC ;D HI KGYBHM<BUI ICFD ;D HI TBKFRCI S ._cBEGS

0%,'08+$'S ?@@f=,'O'&&*$* 3&"*$%S -DKBFGS 9RCYIC\K Q <R GYCI;GC5 TBKFRCI< TICI DH ,RDWG .RK;G S OIHDKX

EBIS 7DKDCIHBFIF OIHDKEBIKIS fggg=%&$"9 ',78+%S 'KIS 3BKFRCI UDcBEIKI BK;DTDK;BDKFD ;D HI 'EI;DUBI DK DH <BVHG `"` S

._cBEGS "K<FBFRFG ,IEBGKIH ;D 'KFCGTGHGVMI D !B<FGCBIS fggA=3*+822% +",'&"S 7IYCBDHS !B<FGCBI ;D HI 3BKFRCI 8CRVRIQI S .GKFDWB;DGS *;BEBGKD< ;D HI

-IK;I %CBDKFIHS ? FGUG<S ?@@@=3*&*"&' #'+'#S *RVDKBGS !B<FGCBI ;DH 'CFD DK DH &DBKG ;D 0aBHD S #IKFBIVGS 8KBWDC<BFICBIS

fgiA=v *<FR;BG< <GYCD HI !B<FGCBI ;DH 'CFD DK 0aBHD &DTRYHBEIKG S #IKFBIVG ;D 0aBHDS *;BEBGKD< ;D HI

8KBWDC<B;I; ;D 0aBHDS fgg?=&'."&*9S 2IR<FGS 'CFD ;DH <BVHG `"` DK HI EBR;I; ;D ._cBEG S .I;CB;S +I .RCIHHIS fgjh=&'#.8##*,S {IH;G :;BC=>S 'CFB<FI< HIFBKGIUDCBEIKG< ;DH <BVHG `` S .I;CB;S $IYITCD<<S fgg?=&*1*#XO'+*&"%S 0GK<FIKFBKGS *H 3BKFGC ;D 0GKWDKFG<= +G< URCIHD< ;DH <BVHG Ò" DK HI

,RDWI *<TIdI S ._cBEGS "K<FBFRFG ,IEBGKIH ;D 'KFCGTGHGVMI D !B<FGCBIS fgjg=&%)&678*9 -'&-*&4,S 2CIKEB<EG eIWBDC :EGGC;=>S 8KI 'C^RBFDEFRCI TICI HI URDCFDS "

*KERDKFCG "KFDCKIEBGKIH <GYCD HG< EDUDKFDCBG< EGKFDUTGC\KDG< S #DWBHHIS eRKFI ;D 'K;IXHREMIS fggp=

&%)&678*9 .%1'S .ICMI "KUIERHI;IS +I UBCI;I ;DH OBCCDQS "EGKGVCINMI ;DH TG;DC DK HI ,RDWI *<TIdI S 0I<FDHHLKS 8KBWDC<BFIF eIRUD "S ?@@p=

&%)&"78*9 3&'.3%+","S ";IS +I ECMFBEI ;D ICFD DK ._cBEG DK DH <BVHG `"` S ._cBEGS8,'.S p FGUG<S fggs :fw D;= fgih>=

&%e'# ."`S .BVRDHS 'U_CBEI "UIVBKICBI S -ICEDHGKIS *;BFGCBIH +RUDKS fgg?=&8"9 7%.'&S &GVDHBGS *H TBKFGC +RB< eR\CDbS #R WB;I Q <R GYCI S ._cBEGS 8,'.S fgjs=&8"9 78$"/&&*9S 'KIS *H FC\NBEG D<TIdGH DKFCD *<TIdI Q 2BHBTBKI<5 fAiAXfjfA S 7CIKI;IS

8KBWDC<B;I;S $D<B< )GEFGCIH BK_;BFIS ?@@h=#0!'O*+9%,S )IKBDHS :EGUT=>S +I TGH_UBEI ;DH ICFD KIEBGKIH DK ._cBEGS fjA@Xfgf@ S ._cBX

EGS 2GK;G ;D 0RHFRCI *EGKLUBEIS fgjj=#*-'#$"4, +J3*9S #IKFBIVGS *H -ICCGEG "YDCGIUDCBEIKGS .DK<IZD BEGKGVC\NBEG S .I;CB;S

*;BEBGKD< *KERDKFCGS fgg@=v"EGKGVCINMI ;DH "K;BG 'UDCBEIKGS #BVHG< Ò"XÒ"" S .I;CB;S $RDCGS fgg?=v "EGKGVCINMI D "EGKGHGVMI ;DH 'CFD ,GWGaB<TIKG S ._cBEGS 'bIYIEaDS fgg?=

-"-+"%7&'26' hip

v "EGKGVCINMI ;DH ICFD ;DH <BVHG Ò" DK ._cBEG S ._cBEGS 7GYBDCKG ;DH *<FI;G ;D 9IEIFDEI<SfggA=

#*-'#$"4, +J3*9S #IKFBIVGS Q GFCG<S 'CFD "YDCGIUDCBEIKG ;D<;D HI EGHGKBbIEBLK I HI "K;DX TDK;DKEBI S [#RUUI 'CFB<] OGH<= `Ò"""X``"`S .I;CB;S *<TI<IX0IHTDS fgjAXfgjg=

#8++"O',S *;tIC; e= :EGGC;=>S 'CFD HIFBKGIUDCBEIKG ;DH <BVHG `` S .I;CB;S ,DCDIS fggi=$%8##'",$S .IKRDHS 'CFD EGHGKBIH DK ._cBEG S ._cBEGS 8,'.X"**S fgg@ :fw *;BEBLKS fghj>=v 3BKFRCI EGHGKBIH DK ._cBEG S ._cBEGS 8,'.X"**S fgg@ :fwS *;BEBLKS fgiA>=$%O'& )* $*&*#'S 7RBHHDCUGS 3BKFRCI Q *<ERHFRCI DK ,RDWI *<TIdI :fAAsXfih@> S ._cBEGS

'bIYIEaDS fgg?=8&"-*S *HGM<IS $GH<\S !GUYCD ;D HI "HR<FCIEBLK S ._cBEGS 0%,'08+$'S fgg@=O'++6,S &G;GHNGS 7CDVGCBG O\<^RDb 0DYIHHG<= *H .ID<FCG ;DH ,RDWG &DBKG ;D 7CIKI;I S

#DWBHHIS .R<DG ;D -DHHI< 'CFD<S ?@@?=O'&7'# 87'&$*S &RY_KS !B<FGCBI ;DH ERHFG ;D .ICMI DK "YDCGIU_CBEI Q ;D <R< BU\VDKD< Q

<IKFRICBG< UI< EDHDYCI;G< S .I;CB;S "K<FBFRFG !B<FLCBEG ;DH 3DCkS fgAi=O"0$%&"'S eG<_ 7RI;IHRTDS 3BKFRCI Q #GEBD;I; DK ,RDWI *<TIdIS #BVHG Ò" S ._cBEGS 8,'.S

fgji=O"P8'+*#S 7CIEBDHI .ICMIS Q GFCG<S "YDCGIU_CBEIS $CI;BEBGKD<S RFGTMI< Q KGWD;I; ECB<FBIKI S

.I;CB;S *;BEBGKD< *KERDKFCGS fgg?={*"#.',,S *HBbIYDFa {BH;DCS *H 'CFD Q DH $BDUTG DK ._cBEG= )D HI 0GK^RB<FI I HI

&DWGHREBLK S ._cBEGS !ICHIS fgg@=



&%)&"7% 78$"/&&*9 O"P8'+*# 1 .'&6' +8"#' -*++")% 7',$hih



!"#$%&"' )*+ '&$* *, "-*&%'./&"0' 1 2"+"3",'# hiA

6,)"0*

",$&%)800"J,================================================================================================================s

f= $*.'# "0%,%7&42"0%# 1 $/0,"0'# '&$6#$"0'#'.*&"0','#=========================================================================================================fp

?= '&$*# 3+4#$"0'# *, *+ O"&&*",'$% )* ,8*O' *#3'P' "================hA

p= '&$*# 3+4#$"0'# *, *+ O"&&*",'$% )* ,8*O' *#3'P' ""===============jsh +' 3",$8&' *, *+ ,8*O% &*",% )* 7&',')' 1

Historia Del Arte en Iberoamérica y Filipinas. Materiales didácticos III: Artes plásticas

Documents

Transcript of Historia Del Arte en Iberoamérica y Filipinas. Materiales didácticos III: Artes plásticas