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:2-:@? #6D 6?72?ED ?6 5@:G6?E AC\A2C6C 56D >6ED BF6 D: G@FD =6 =6FC 2G6K 2AAC:D =D 5@:G6?E ]EC6 42A23=6D 56 D6 D6CG:C 4@CC64E6>6?E 56 = 2AA2C6:= =D 5@:G6?E 4@>AC6?5C6 =6D 52?86CD :?5:BF\D 52?D =2 ?@E:46 5 FE:=:D2E:@? #6D 6?72?ED 5@:G6?E ]EC6 DFCG6:==\D A6?52?E = FE:=:D2E:@? 56 = 2AA2C6:= 27:? BF :=D ?6 ;@F6?E A2D 2G64 = 2AA2C6:= :2-:@? 1@ 95/>;V;:01? #6D 6?72?ED ?6 5@:G6?E AC\A2C6C 56D >6ED 2G64 56D >:4C@h@?56D D6F=6D BF6 D: G@FD =6 =6FC 2G6K 2AAC:D =D 5@:G6?E ]EC6 42A23=6D 56 D6 D6CG:C 4@CC64E6>6?E 5
):DBF6 56 3Cf=FC6D %6 ;2>2:D AC\A2C6C 56D >6ED 2G64 56 8C2?56D BF2?E:E\D 56 3@:DD@?D 7@CE6>6?E 2=4@@=:D\6D #6D G2A6FCD 5 2=4@@= C:DBF6?E 56 D 6?7=2>>6C 52?D =6 4@>A2CE:>6?E 56 4F:DD@? ,E:=:D6K F?:BF6>6?E 56D A6E:E6D BF2?E:E\D 56 3@:DD@?D 7@CE6>6?E 2=4@@=:D\6D 6E @FGC6K ACF56>>6?E =2 A@CE6 5F 4@>A2CE:>6?E 56 4F:DD@? //1??;5>1? /4-A0? ):DBF6 56 3Cf=FC6D %6 ;2>2:D C6E:C6C =6D 2446DD@:C6D 492F5D 56 = 2AA2C6:= D2?D FE:=:D6C 56D >2?:BF6D $;>@1 ;A 6;5:@ 01 <;>@1 0A /;9<->@591:@ 01 /A5??;: 1:0;99-3M 1 ):DB
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-:01-A 01 /;99-:01 -@F496 &@56 D[BF6?E:6= )F:DD2?46D >:4C@g@?56D :h2AC[D = 2A6CZF 5F 32?562F 56 4@>>2?56 6D G2C:2E:@?D 56 5\E2:=D D@?E A@DD:3=6D D6=@? =6 >@5[=6 5 2AA2C6:= -@F496D )F:DD2?46D >:4C@g@?56D 77:49286 ,[=64E6FC 56D 7@?4E:@?D -96C>@DE2E !-:1@@1? #6D >2?6EE6D D@?E 6D42>@E23=6D '@FC = 6?4=6?496C 6E =2 5\D6?4=6?496C 2AAFJ6K DFC =2 >2?6EE6 6? A@D:E:@? (;A/41? = J 2 56D D@?56D D@FD =6D 5:77\C6?E6D E@F496D -@FD ? 2G6K A2D 36D@:? 5 2AAFJ6C 7@CE 77=6FC6K D:>A=6>6?E =6 DJ>3@=6 C6DA64E:7 I46
=1&30) 32'8-32 () 0% 839',) ,[=64E:@??6C =6 >@56 D[BF6?E:6= ,[=64E:@??6C =2 AF:DD2?46 >:4C@g@?56D 0 ,[=64E:@??6C =2 AF:DD2?46 >:4C@g@?56D 0 ,[=64E:@??6C =2 AF:DD2?46 >:4C@g@?56D 0 ,[=64E:@??6C =2 AF:DD2?46 >:4C@g@?56D ,[=64E:@??6C =2 AF:DD2?46 >:4C@g@?56D ,[=64E:@??6C =6 492F77286 C2A:56 ,[=64E:@??6C =6 A@:5D (FGC:C 6E 76C>6C =6 >6?F @?4E:@?D 56 E6>AD ,[=64E:@??6C =2 D[4FC:E[g6?72?ED &@:?D +[5F:C6 =6D G2=6FCD 56 C[8=286 )=FD F8>6?E6C =6D G2=
37-8-32 !7%+) 92=6FC E@FC?2?E6 )@FC 72:C6 4F:C6 56D 8[?@:D6D 52?D 56D >@F=6D 56D E2CE6D 6? AWE6 V 3:D4F:E 56D E2CE6D 2F 7C@>286 3=2?4 2:?D: BF6 56D 8WE62FI 56D A:KK2D 6E 56D A6E:E6D AWE:DD6C:6D DFC =2 A=2BF6 V AWE:DD6C:6 C:= 4@?G64E:@? 6 >@56 4@?G:6?E A2CE:4F=:ZC6>6?E A@FC =6 CaE:DD286 56 >@C462FI 56 G:2?56 C:= 2:C AF=D[ %2 G@=2:==6 56G:6?E 3:6? 4C@FDE:==2?E6 6E 5@C[6 6 >@56 6DE :5[2= A@FC C[FDD:C 56D D@F77=[D 6E 56D 8C2E:?D C:= 8C2?56 DFC7246 9@:D:DD6K 6?EC6 =6D A@D:E:@?D AF:DD2?E6
;9<->@591:@ 01 /A5??;: *1:@58-@1A> 01 >12>;505??191:@ -@EC6 2AA2C6:= A@DD[56 F? G6?E:=2E6FC 56 C67C@:5:DD6>6?E #6 G6?E:=2E6FC 56 C67C@:5:DD6>6?E D6 >6E 6? >2C496 A6?52?E =6 7@?4E:@??6>6?E # 2:C 492F5 D \492AA6 2Fh56DDFD 56 =2 A@CE6 @@1:@5;: %6 A2D 4@FGC:C =6D 76?E6D 5 2\C2E:@? *:?@? =6 7@FC DFC492F776 AC[D =6 7@?4E:@??6>6?E =6 G6?E:=2E6FC 4@?E:?F6 56 7@?4E:@??6C F? 46CE2:? E6>AD &19->=A1? # 2AA2C6:= C6DE6 7C@:5 6? >@56 >:4C@h@?56D +@FE67@:D =6 G6?E:=2E6FC 56 C67C@:5:DD6>6?E D6 >6E 6? >2C496 = A6FE 4
6-00) )@FC 56 =2 G2:DD6==6 56D >@F=6D V 8WE62F 8C:==256D 6E A=2ED DFC86=[D /@FD A@FG6K C6E:C6C =2 8C:==6 V 56FI E:6CD D2?D BF 6==6 ?6 32D4F=6 "= 6DE 2:?D: 724:=6 56 C6E:C6C =6D >6ED 0%59) A 4B8-77)6-) E1%-00E) )@FC 8WE62FI 6E A6E:ED 7@FCD ?7@FC?6K =2 A=2BF6 V AWE:DD6C:6 ;FDBF 6? 3FE[6 A2CE:6 :?4=:?[6 6? 5:C64E:@? 56 =2 A@CE6 56 = 2AA2C6:= %2 A=2BF6 V AWE:DD6C:6 [>2:==[6 ? 6DE A2D 2AAC@AC:[6 2F >@56 4@>3:?[ 2G64 >:4C@g@?56D 6-00) A 4B8-77)6-) 4396 1-'63L32()7 )@FC 4F:C6 56D 8WE62FI 52?D 56D >@F=6D 6? >[E
B-:@ 8- <>195L>1 A@585?-@5;: -@FD 2AAC6?5C6K :4: 46 BF6 G@FD 56G6K 72:C6 2G2?E 5 FE:=:D6C G@EC6 7@FC A@FC =2 AC6>:[C6 7@:D A@FC AC\A2C6C 56D >6ED #:D6K 2FA2C2G2?E =6 492A:EC6 ! % % %0 '$ &0 &M38-31 01 8 41A>1 4-A221> 81 2;A> "1@@;E1> 81? -//1??;5>1? AC[D =6 C244@C56>6?E BF2EC6 K\C@D 4=:8?@E6?E 52?D = 277:49286 )\8=6K = 96FC6 AAFJ6C DFC =2 E@F496 @F -2=6FC 56 C\7\C6?46 -2=6FC 56 C\7\C6?46 )\8=6C = 96FC6 2F >@J6? 56 =2 E@F496 @F AAFJ6C DFC =2 E@F496 # 96FC6 6DE C\
&M38-31 0A 2;A> -@FD 2G6K A=FD:6FCD A@DD:3:=:E\D A@FC C\8=6C G@EC6 7@FC %@FD G@FD 6IA=:BF@?D :4: 4@>>6?E C\8=6C =6 >@56 56 4F:DD@? 6E =2 E6>A\C2EFC6 @F =2 A@D:E:@? 8C:= D@F92:E\D -@FD A@FG6K C\8=6C DFC =6 7@FC =2 5FC\6 A@FC G@EC6 >6ED '@FC 46=2 4@?DF=E6K =6 492A:EC6 0 % ! & ! % & "% &M381> 81 9;01 01 /A5??;: 1@ 8@19-@A>1 I6>A=6 52?D = :==FDEC2E:@? C:= 4@?G64E:@? W N )\8=6C =6 >@56 56 4F:DD@? W = 2:56 5F D\=64E6FC 56D 7@?4E:@?D = 2:56 5F E96C>@DE2E C\8=6C =2 E6>A\C2EFC6 @F =2
#AB>5> 8- <;>@1 0A 2;A> <1:0-:@ 81 2;:/@5;::191:@ #6 7@?4E:@??6>6?E D 2CC]E6 AAFJ6C DFC =2 E@F496 2AC[D 2G@:C 76C>\ =2 A@CE6 #6 7@?4E:@??6>6?E 4@?E:?F6 >>N@1> 81 2;:/@5;::191:@ AAFJ6C DFC =2 E@F496 =6 7@?4E:@??6>6?E D 2CC]E6 AAFJ6C DFC =2 E@F496 =6 7@?4E:@??6>6?E 4@?E:?F6 @15:0>1 81 2;A> +@FC?6C =6 D\=64E6FC 56D 7@?4E:@?D DFC =2 A@D:E:@? K\C@ !;05251> 81? >M38-31? -@FD A@FG6K >@5:7:6C W E@FE >@>6?E =6 >@56 56 4F:DD@? 6E =2 E6>A\C2EFC6 @F =2 A@D:E:@? 8C:= 2F >@J6? 5F D\=64E6FC 4@CC6DA@?52
1? 95/>;V;:01? ? A\?\EC2?E 52?D =6D 2=:>6?ED =6D >:4C@h@?56D D6 EC2?D7@C>6?E 6? 492=6FC -@FD A@FG6K FE:=:D6C =6D >:4C@h@?56D D6F=6D @F 4@>3:?\6D 2G64 F? 2FEC6 >@56 56 4F:DD@? 6EE6 ?@E:46 G@FD 5@??6 56D :?7@C>2E:@?D 4@?46C?2?E =2 G2:DD6==6 6E 4@>>6?E C\8=6C =6D >:4C@h@?56D &19->=A1 2?D =6 492A:EC6 %&0% "!'$ (!'% % !&$ !$ &! $ G@FD EC@FG6C6K 56 ?@>3C6FI 6I6>A=6D A@FC =2 5\4@?8\=2E:@? =6 C\492F77286 6E =2 4F:DD@? 2FI >:4C@h@?56D ;:?158? <;A> 81? >M/5<51:@? &M/5<51:@? -<<>;<>5M? *@?E 2AAC@AC:\
*: G@FD ? ]E6D A2D DfC BF6 G@EC6 C\4:A:6?E 4@?G:6?E 2FI >:4C@h@?56D 67764EF6K =6 E6DE DF:G2?E '=246K =6 A=2E G:56 52?D = 2AA2C6:= A6?52?E P W >:?FE6 W =2 AF:DD2?46 >2I:>2=6 -\C:7:6K 6?EC6hE6>AD =2 E6>A\C2EFC6 #6 C\4:A:6?E 5@:E ]EC6 7C@:5 @F E:[56 * := 6DE 492F5 @F D: 56D \E:?46==6D D6 AC@5F:D6?E G@EC6 C\4:A:6?E ? 6DE A2D 2AAC@AC:\ $A5??-:/1? 95/>;V;:01? 6D E@F496D A6C>6EE6?E 56 C\8=6C =2 AF:DD2?46 >:4C@h@?56D 5\D:C\6 0 )@FC 5[4@?86=6C 56D >6ED 5[=:42ED 0 )@FC 5[4@?86=6C 6E A@FCDF:GC6 =2 4F:D
- 0A>M1 1?@ M/;A8M1 ,? D:8?2= C6E6?E:E #6 >@56 >:4C@h@?56D 6DE E6C>:?\ )\8=6C =6 D\=64E6FC 56D 7@?4E:@?D DFC =2 A@D:E:@? K\C@ -@FD A@FG6K 4@FA6C =6 D:8?2= D@?@C6 AC\>2EFC\>6?E 2F >@J6? 56 =2 E@F496 #AB>5> 1:@>1V@19@1 0A 2;A> #6 7@?4E:@??6>6?E D 2CC]E6 AAFJ6C 3C:[G6>6?E DFC =2 E@F496 2AC[D 2G@:C C676C>\ =2 A@CE6 #6 7@?4E:@??6>6?E 4@?E:?F6 !;05251> 8- 0A>M1 6=2 6DE A@DD:3=6 W E@FE >@>6?E $@5:7:6C =2 5FC\6 2F >@J6? 56 =2 E@F496 @F !;05251> 8- ;V;:01? AAFJ6C DFC =2 E@F4
!;01? 01 /A5??;: -<<>;<>5M? 92=6FC E@FC?2?E6 C:= 4@?G64E:@? C:= 2:C AF=D\ C:= 8C2?56 DFC7246 C:= A6E:E6 DFC7246 &M38-31 0A 9;01 !5/>; ;9.5 I6>A=6 $:4C@h@?56D .
!;01 ?M=A1:@518 &M/5<51:@? &M381> 81 9;01 ?M=A1:@518 - 0A>M1 1?@ M/;A8M1 ? >@56 D\BF6?E:6= G@FD A@FG6K C\8=6C ;FDBF W EC@:D AF:DD2?46D 6E E6>AD >:4C@h@?56D 5:77\C6?ED DF446DD:7D 6E =6D 5\>2CC6C 6?DF:E6 ,E:=:D6K E@F;@FCD 56D C\4:A:6?ED 2AAC@AC:\D 2FI >:4C@h@?56D 6E C\D:DE2?ED W =2 492=6FC )\8=6K F?6 5FC\6 A@FC 492BF6 7@?4E:@??6>6?E D\BF6?E:6= )\8=6C =6 D\=64E6FC 56D 7@?4E:@?D DFC AAFJ6C DFC =2 E@F496 #6 A@FC =6 AC6>:6C 7@?4E:@??6>6?E D\BF6?E:6= 2AA2C2`E 52?D = 277:49286 )\8=6C =2 AC6>:[C6 AF:DD2?
>>N@1> 81 2;:/@5;::191:@ AAFJ6C 3C:[G6>6?E DFC =2 E@F496 #6 7@FC 6DE 6? \E2E '2FD6 )\2AAFJ6C DFC =6 7@?4E:@??6>6?E 4@?E:?F6 ::A81> 81 2;:/@5;::191:@ AAFJ6C 6?G D64@?56D DFC =2 E@F496 6E E@FC?6C =6 D\=64E6FC 56D 7@?4E:@?D DFC =2 A@D:E:@? K\C@ :@1>>;31> 8- 0A>M1 AAFJ6C 56FI 7@:D DFC =2 E@F496 &19->=A1 -@FD A@FG6K 2FDD: 4@>3:?6C F? >@56 56 4F:DD@? 2G64 =6 >@56 D\BF6?E:6= )\8=6K 5 23@C5 =6 >@56 56 4F:DD@? $>;3>-991? -A@;9-@5=A1? G64 =6D AC@8C2>>6D 2FE@>2E:BF6D G@FD A@FG6K AC\A2C6C 56D >6
*\=64E:@??6C =6 ?F>\C@ 5F AC@8C2>>6 2F >@J6? 56 =2 E@F496 @F AAFJ6C DFC =2 E@F496 2?D = 277:49286 2AA2C2`E <8 4@>>6 A@:5D 56 C\7\C6?46 )\8=6C =6 A@:5D 2F >@J6? 56 =2 E@F496 @F AAFJ6C DFC =2 E@F496 #6 AC@8C2>>6 5\>2CC6 #2 5FC\6 D \4@F=6 G:D:3=6>6?E 6E =6 DJ>3@=6 7:8FC6 6?EC6 A2C6?E9[D6D
1 <>;3>-991 1?@ @1>95:M ,? D:8?2= C6E6?E:E #6 AC@8C2>>6 6DE E6C>:?\ =6 7@FC ?6 492F776 A=FD AAFJ6C DFC =2 E@F496 6E C\8=6C =6 D\=64E6FC 56D 7@?4E:@?D DFC =2 A@D:E:@? K\C@ !;05251> 81 <>;3>-991 AC[D =2 >:D6 6? >2C496 := ? 6DE A=FD A@DD:3=6 56 >@5:7:6C =6 ?F>\C@ 56 AC@8C2>>6 6E =6 A@:5D M?-/@5B1> 81 ?53:-8 <>M9-@A>M91:@ #AB>5> 1:@>1V@19@1 01 8 -<<->158 AAFJ6C DFC =2 E@F496 #6 7@?4E:@??6>6?E D 2CC]E6 AAFJ6C DFC =2 E@F496 2AC[D 2G@:C 76C>\ =2 A@CE6 =6 7@?4E:@??6>6?E 4@?E:?F6 >>N@1>
M/;:3M8-@5;: @?86=6K 6E DE@4<6K =6D 2=:>6?ED W A=2E 6E A@CE:@??\D W N '=246K = 2=:>6?E DFC86=\ 52?D F? C\4:A:6?E A=2E A 6I F?6 2DD:6EE6 6? G6CC6 @F 6? A@C46=2:?6 AC[D =2 5\4@?8\=2E:@? =2:DD6K 6?4@C6 = 2=:>6?E 5\4@?86=6C W 4@6FC A6?52?E W >:?FE6D 27:? BF6 =2 E6>A\C2EFC6 D \82=:D6 F =:BF:56 D6 7@C>6 =@CD 56 =2 5\4@?8\=2E:@? 56 G:2?56 56 G@=2:==6 @F 56 A@:DD@? ? C6E@FC?2?E =6D 2=:>6?ED 6?=6G6K 46 =:BF:56 = ?6 5@:E 6? 2F4F? 42D ]EC6 C\FE:=:D\ @F 6?EC6C 6? 4@?E24E 2G64 5 2FEC6D 2=:>6?ED '@FC
*;8-5881 $5FF- ?A>318M1 (191<;? '=246K =6 A@F=6E 52?D =2 G2:DD6==6 =6 4cE\ 3=2?4 G6CD =6 32D '=246K =6D >@C462FI 56 A@F=6E 52?D =2 G2:DD6==6 4cE\ 492:C G6CD =6 32D ,E:=:D6K 56D A:KK2D 6E 56D A:KK2Dh328F6EE6D AC\4F:E6D DFC86=\6D 6CE2:?D A=2ED ?\46DD:E6?E 6?4@C6 F? E6>AD 56 C6A@D 52?D =6 7@FC 2AC[D =2 7:? 5F AC@8C2>>6 0%8 )147 () 6)437 %[8F>6D 6?G >:?FE6D )@>>6D 56 E6CC6 6?G >:?FE6D ?=6G6C 5 23@C5 = 62F AC@5F:E6 +:K V >:?FE6D +aE: 56 A@C4 CaE: 56 G:2?56 9249[6 >:?FE6D (-.
6 () 463+6 0-1)287 %446346-E7 396',)88) () 43-(7 )2 /+ E'-4-)287 %'')773-6)7 2-:)%9 ( )2*3962)1)28 9-6) %[8F>6D 7C2:D 9@Fg7=6FC 3C@4@=: 42C@EE6D 49@FgC2G6 A@:C62F A@:GC@? 4@FC86EE6 g +[4:A:6?E 76C>[ 7@?5 5F 4@>A2CE:>6?E 56 4F:DD@? %[8F>6D DFC86=[D 9@Fg7=6FC 3C@4@=: 42C@EE6D 49@FgC2G6 49@F C@F86 [A:?2C5D g +[4:A:6?E 76C>[ 7@?5 5F 4@>A2CE:>6?E 56 4F:DD@? )@>>6D 56 E6CC6 V = 2?8=2:D6 )@>>6D 56 E6CC6 V 492:C 76C>6 8[?[C2=6>6?E 56D A@>>6D 56 E6CC6 C6DE2?E 76C>6D
&M38-31 01? 2;:/@5;:? 01 @19AD G64 =2 E@F496 G@FD 2AA6=6K =6 >6?F 6E 4@>>FE6K 6?EC6 =6D 5:77\C6?E6D 7@?4E:@?D +2?E BF6 G@FD A@FG6K C\8=6C E@FD =6D DJ>3@=6D 56 E6>AD D@?E 2==F>\D #6D A2C6?E9[D6D 0 1 G@FD :?5:BF6?E DFC BF6==6 7@?4E:@? 56 E6>AD G@FD ]E6D #2 E@F496 @F G@FD A6C>6E 56 C\8=6C 5:C64E6>6?E F?6 7@?4E:@? 56 E6>AD 5\;W C\8=\6 =@CDBF6 =6 DJ>3@=6 56 E6>AD 7:8FC6 6?EC6 A2C6?E9[D6D &M38-31 01 895:A@1>51 -@FD A@FG6K FE:=:D6C =2 >:?FE6C:6 4@>>6 >:?
::A81> 8- 0A>M1 >M38M1 01 8- 95:A@1>51 )2>6?6C =6 E6>AD 56 >:?FE6C:6 W W = 2:56 56 =2 E@F496 #2 >@5:7:42E:@? D6C2 G2=:5\6 2AC[D BF6=BF6D D64@?56D #2 >:?FE6C:6 6DE 5\D24E:G\6 :@1>>;31> 81? >M38-31? 01 @19AD D@?E C\8=\6D =6D DJ>3@=6D 4@CC6DA@?52?ED D@?E 2==F>\D 52?D = 277:49286 #2 >:?FE6C:6 >2C496 W = 2G2?EhA=2? #6 DJ>3@=6 6DE 277:49\ 6?EC6 =6D A2C6?E9[D6D 6E =6 E6>AD 56 >:?FE6C:6 D \4@F=6 G:D:3=6>6?E '@FC :?E6CC@86C =2 >:?FE6C:6 =2 5FC\6 @F = 96FC6 2AAFJ6C
)\8=6C =2 5FC\6 2F >@J6? 56 =2 E@F496 @F AAFJ6C DFC =2 E@F496 #6 7@FC D6 >6E 6? >2C496 #2 5FC\6 D \4@F=6 G:D:3=6>6?E 52?D = 277:49286 6E =6 DJ>3@=6 0 1 6DE 2==F>\ #6D 2FEC6D DJ>3@=6D 56 E6>AD D 677246?E - 0A>M1 1?@ M/;A8M1 ,? D:8?2= C6E6?E:E #6 7@FC D 2CC]E6 56 492F776C 2?D = 277:49286 2AA2C2`E -@FD A@FG6K 677246C =6 D:8?2= AC\>2EFC\>6?E 2F >@J6? 56 =2 E@F496 +@FC?6C =6 D\=64E6FC 56D 7@?4E:@?D DFC =2 A@D:E:@? K\C@ #6 7@FC 6DE \E6:?E !;05251> 8- 0A>M1 $@5:7:6C =2 5FC\6 2F >@J6? 56 =2 E@F4
&M38-31 01 8 41A>1 AC[D =6 C244@C56>6?E @F 2AC[D F?6 A2??6 56 4@FC2?E =6D DJ>3@=6D 0 1 6E BF2EC6 K\C@D D 2==F>6?E 52?D = 277:49286 )\8=6K = 96FC6 AAFJ6C DFC =2 E@F496 @F -2=6FC 56 C\7\C6?46 -2=6FC 56 C\7\C6?46 )\8=6C = 96FC6 2F >@J6? 56 =2 E@F496 @F AAFJ6C DFC =2 E@F496 # 96FC6 6DE C\8=\6 !;05251> 8 41A>1 F4F?6 2FEC6 7@?4E:@? 56 E6>AD ?6 5@:E 2G@:C \E\ C\8=\6 AAFJ6C 56FI 7@:D DFC =2 E@F496 2?D = 277:49286 =6D DJ>3@=6D 56 E6>AD D 2==F>6?E 6E =6 DJ>3@=6 0 1 7:8FC6 6?EC6 A
'M/A>5@MV1:2-:@? #6 7@FC 6DE \BF:A\ 5 F?6 D\4FC:E\h6?72?ED 27:? BF6 =6D 6?72?ED ?6 AF:DD6?E A2D =6 >6EEC6 6? >2C496 A2C >\82C56 #6 7@FC ?6 C\28:C2 W 2F4F? C\8=286 -@FD A@FG6K C\8=6C =2 >:?FE6C:6 6E = 96FC6 >]>6 D: =2 D\4FC:E\h6?72?ED 6DE 24E:G\6 /@5B1> 8- ?M/A>5@MV1:2-:@? @?5:E:@? AC\2=23=6 F4F?6 5FC\6 ? 6DE C\8=\6 6E =6 D\=64E6FC 56D 7@?4E:@?D 6DE DFC =2 A@D:E:@? K\C@ AAFJ6C DFC =2 E@F496 A6?52?E BF2EC6 D64@?56D 6?G #6 DJ>3@=6 2AA2C2`E 52?D = 277:49286 #2 D\4FC:E\h6?72?ED 6DE 24E:G\6 M?-/@5B1
E+0%+) () &%7) 377-&-0-8E7 <40-'%8-32 77:49286 96FC6 (? 77:49286 96FC6 (77 77:49286 56 = 96FC6 FC[6 5F D:8?2= >@J6??6 >:?FE6D ,@?@C:E[ 56D E@F496D (? -6>AD 5 2EE6?E6 >@J6? D64@?56D 4@FCE D64@?56D =@?8 D64@?56D -6>AD 5 2EE6?E6 6?EC6 =6D 5:77[C6?E6D [E2A6D 2ACZD F? C[8=286 /@=F>6 5F D:8?2= D@?@C6 >@J6? 72:3=6 7@CE /@=F>6 5F D:8?2= 4@FCE6 D64@?56D ,:8?2= 2ACZD [4@F=6>6?E 5 F?6 =@?8F6 >:?FE6D 5FC[6 ,@?@C:E[ 56D E@F496D (77
:@>1@51: 1@ :1@@;E-31 *: G@FD 6?EC6E6?6K 6E ?6EE@J6K D@:8?6FD6>6?E G@EC6 2AA2C6:= >:4C@h@?56D := 82C56C2 =@?8E6>AD = 2DA64E 5F ?6F7 6E C6DE6C2 :?E24E %@FD G@FD 6IA=:BF@?D :4: 4@>>6?E 6?EC6E6?:C 6E ?6EE@J6C 4@CC64E6>6?E G@EC6 2AA2C6:= ):DBF6 56 4@FCEh4:C4F:E % FE:=:D6K ;2>2:D 56 ?6EE@J6FCD W 92FE6 AC6DD:@? @F W G2A6FC ):DBF6 56 3Cf=FC6D %6 A2D ?6EE@J6C 5:C64E6>6?E 2AC[D = 2CC]E #2:DD6C C67C@:5:C = 2AA2C6:= &19->=A1? #6D =\8[C6D G2C:2E:@?D 56 4@F=6FCD 2AA2C2:DD2?E DFC =2 72Z256 56 = 2AA2C6:= D@?E
56 C24=@:CD W G6CC6 @F >\E2==:BF6D A@FC ?6EE@J6C =6 ;@:?E 56 =2 A@CE6 56 E2>A@?D 6? A2:==6 >\E2==:BF6 ?: 5 \A@?86D W 5@D C\4FC2?E G2?E 5 FE:=:D6C 56D =2G6EE6D \A@?86D ?6FG6D C:?46Kh=6D D@:8?6FD6>6?E -:)%9 )883=%287 2Y256 56 = 2AA2C6:= 2F 492F56 255:E:@??[6 56 AC@5F:E V G2:DD6==6 '6EE@J6C 2G64 F?6 =2G6EE6 6E D[496C 2G64 F? 49:77@? 5@FI '6 A2D FE:=:D6C 56 C24=@:CD V G6CC6 @F >[E2==:BF6D A@FC =6 ?6EE@J286 "?@I @>A2CE:>6?E 56 4F:DD@? 2F 492F56 255:E:@??[6 56 AC@5F:E V G2:DD6==6 '6EE@J6C
-:)%9 )883=%287 #@:?E 56 A@CE6 '6 A2D = 6?=6G6C 2F 492F56 255:E:@??[6 56 AC@5F:E V G2:DD6==6 '6EE@J6C 2G64 F?6 =2G6EE6 ?6 A2D C[4FC6C '6 A2D FE:=:D6C 56 C24=@:CD V G6CC6 @F >[E2==:BF6D A@FC =6 ?6EE@J286 446DD@:C6 2F 492F56 255:E:@??[6 56 AC@5F:E V G2:DD6==6 &6EEC6 V EC6>A6C 6E ?6EE@J6C 2G64 F?6 =2G6EE6 @F F?6 3C@DD6 $;A> 2-/585@1> 81 :1@@;E-31 G@FD A@FG6K 2==F>6C =2 =2>A6 5F 7@FC '@FC 46=2 @FGC6K =2 A@CE6 56 = 2AA2C6:= "1@@;E-31 0A /-/41 1: B1>>1 *FC =2 A2C@: =2E\C2=6 52?D =6 7@FC 6DE D
"1@@;E-31 0A 2;:0 0A /;9<->@591:@ 01 /A5??;: 01 8- B;T@1 1@ 01? <->;5? 8-@M>-81? ,E:=:D6K F?6 =2G6EE6 6E 56 = 62F 255:E:@??\6 56 AC@5F:E W G2:DD6==6 @F 56 = 62F 2F G:?2:8C6 ? 42D 5 6?4C2DD6>6?E :>A@CE2?E FE:=:D6K 56 AC\7\C6?46 5F AC@5F:E 56 ?6EE@J286 A@FC 7@FC ,E:=:D6K 5F AC@5F:E 56 ?6EE@J286 A@FC 7@FC F?:BF6>6?E =@CDBF6 =6 7@FC 6DE 7C@:5 :/501:@? 1@ 0M<-::-31 = D6 A6FE BF F?6 A6E:E6 A2??6 8]?6 =6 3@? 7@?4E:@??6>6?E 56 G@EC6 2AA2C6:= G2?E 5 2AA6=6C =6 D6CG:46 2AC[DhG6?E6 G6F:==6K 2AA=:BF6C =6D 4@?D:
%22) %97) 4377-&0) %6D >6ED 492F776?E A=FD =6?E6>6?E BBF 2G2?E /@FD 2G6K C[8=[ F?6 AF:DD2?46 9@:D:DD6K F?6 AF:DD2?46 56 >:4C@g@?56D EC@A 72:3=6 >:4C@g@?56D A=FD [=6G[6 )1D() )1%659)7 /@FD 2G6K A=24[ 52?D = 2AA2C6:= @F3=6 BF2?E:E[ g BF2D:>6?E F?6 BF2?E:E[ 5 2=:>6?ED A=FD 5@F3=6 5FC[6 :>A@CE2?E6 BF6 5 923:EF56 .
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'1>B5/1 -<>L?VB1:@1 *: G@EC6 2AA2C6:= 2 36D@:? 5 ]EC6 C\A2C\ ?@EC6 D6CG:46 2AC[DhG6?E6 D6 E:6?E W G@EC6 5:DA@D:E:@? #6 ?F>\C@ 56 E\=\A9@?6 6E = 25C6DD6 5F D6CG:46 2AC[DhG6?E6 =6 A=FD AC@496 7:8FC6 52?D = 2??F2:C6 E\=\A9@?:BF6 FDD: =6D 46?EC6D 56 D6CG:46 2AC[DhG6?E6 :?5:BF\D G@FD C6?D6:8?6C@?E G@=@?E:6CD DFC =6 D6CG:46 2AC[DhG6?E6 =6 A=FD AC@496 56 G@EC6 5@>:4:=6 "A9M>; 1@ :A9M>; #@CDBF6 G@FD 2AA6=6K ?@EC6 D6CG:46 2AC[DhG6?E6 G6F:==6K :?5:BF6C =6 ?F>\C@ 6E =6 ?F>\C@ 56 G@EC6 2AA2C6:= -@FD EC@FG
C[BF6?46 >:4C@g@?56D &!K FD:3=6 :>6?D:@?D !I%I) g 2AA2C6:= I I 4> g 4@>A2CE:>6?E 56 4F:DD@? I I 4> @?7@C>6 2FI ?@C>6D / @F: ,:8?6 56 4@?7@C>:E[ @F: 6E 2AA2C6:= C\A@?5 W =2 ?@C>6 % *') 6DE F? AC@5F:E 5F 8C@FA6 4=2DD6 @F 3:6? C@FA6 D:8?:7:6 BF6 56D >:4C@h@?56D D@?E 8\?\C\6D A@FC 492F776C 56D 2=:>6?ED =2DD6 D:8?:7:6 BF6 = 2AA2C6:= 6DE 2AAC@AC:\ W = 6?G:C@??6>6?E 5@>6DE:BF6 8595:-@5;: M/;8;35=A1 =:>:?6K = 6>32==286 6? C6DA64E2?E
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6D >6ED 56 72:3=6 \A2:DD6FC C\492F776?E A=FD G:E6 BF6 56D >6ED 56 8C@DD6 \A2:DD6FC 6DE A@FCBF@: := 6DE C64@>>2?5\ 56 3:6? C\A2CE:C =6D >6ED 52?D =6 C\4:A:6?E A@FC BF :=D D@:6?E A6F \A2:D % 6>A:=6K A2D =6D 2=:>6?ED )64@FGC6K E@F;@FCD =6D >6ED *: G@FD ?6 5:DA@D6K A2D 5 F? 4@FG6C4=6 252AE\ W G@EC6 C\4:A:6?E AC6?6K F?6 2DD:6EE6 @F 5F 7:=> DA\4:2= A@FC >:4C@h@?56D ?EC6hE6>AD C6>F6K @F C6E@FC?6K =6D >6ED h 7@:D ,?6 7@:D C\492F77\D =2:DD6K C6A@D6C =6D A=2ED h >:?FE6D A@FC BF6 =2 E6>A\C2EFC6 D \82=:D6
#@CDBF6 G@FD 492F776K 56D =:BF:56D A=246K E@F;@FCD F?6 4F:==[C6 W 427\ 52?D =6 C\4:A:6?E A@FC \G:E6C =6 C6E2C5 5 \3F==:E:@? #@CD 56 = \3F==:E:@? E2C5:G6 =6 =:BF:56 2EE6:?E =2 E6>A\C2EFC6 5 \3F==:E:@? D2?D BF6 56D 3F==6D 56 G2A6FC ?6 D6 7@C>6?E ):6? BF F?6 =\8[C6 D64@FDD6 5F C\4:A:6?E A6FE 72:C6 5\3@C56C @F 72:C6 ;2:==:C =6 =:BF:56 3Cf=2?E 64: A6FE 6?86?5C6C 56D 3=6DDFC6D 6E 3Cf=FC6D )64@FGC6K E@F;@FCD =6D >6ED *: G@FD ?6 5:DA@D6K A2D 5 F? 4@FG6C4=6 252AE\ W G@EC6 C\4:A:6?E AC6?6K F?6 2DD:6EE6 @F 5F 7:=>
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) +B8)%9 % 1328E (%:%28%+) %9 ')286) 59) 796 0)7 &36(7 '6 8C2:DD6K BF6 =6 7@?5 5F >@F=6 5[>@?E23=6 ACZD =2 4F:DD@? 5[>@F=6K D@:8?6FD6>6?E =6 8WE62F V = 2:56 5 F? 4@FE62F ) +B8)%9 )78 8634 '9-8 9@:D:DD6K F?6 E6>A[C2EFC6 A=FD 32DD6 6E 72:E6D 4F:C6 =6 8WE62F F? A6F A=FD =@?8E6>AD ) +B8)%9 )78 8634 7)' = 2:56 5 F? 4FC6g56?E A6C46K A=FD:6FCD A6E:ED EC@FD 52?D =6 8WE62F 4F:E /6CD6K DFC =6 8WE62F 5F ;FD 56 7CF:E @F 5F =:BF:56 =[8ZC6>6?E 2=4@@=:D[ F 8WE62F DF:G2?E 2F8>6?E6K =2 E6>A[C2EFC6 56 N 6E
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-9.5:5 32>3:?: A@DD@?@ 4F4:?2C6 D@=@ 5@A@ 6DD6C6 DE2E: 2568F2E2>6?E6 :DECF:E: :? >6C:E@ 6G@?@ 52AAC:>2 D2A6C FE:=:KK2C6 4@CC6EE2>6?E6 = 2AA2C6449:@ *: 56G6 6DD6C6 4@?D2A6G@=: 56: A6C:4@=: 4F: 72??@ C:76C:>6?E@ 2?496 =6 :DECFK:@?: A6C = FD@ =: 25F=E: 56G@?@ 2DD:DE6C6 : 32>3:?: ?6== FD@ 56== 2AA2C6449:@ A6C 6G:E2C6 496 BF6DE: =@ 4@?D:56C:?@ F? 8:@42EE@=@ -9.
//1??;>5 /-805 '6C:4@=@ 5: D4@EE2EFC6 %@? 6DEC2CC6 >2: 8=: 2446DD@C: 42=5: 52== 2AA2C6449:@ D6?K2 FE:=:KK2C6 =6 AC6D:?6 $;>@- 018 B-:; /;@@A>- ; 3A->:5F5;:1 0188- <;>@0-::1335-@1 ):D49:@ 5: 8C2G: 52??: 2==2 D2=FE6 *6 =2 A@CE2 56= G2?@ 4@EEFC2 @ =2 8F2C?:K:@?6 56==2 A@CE2 D@?@ 52??688:2E6 = 2AA2C6449:@ ?@? 56G6 6DD6C6 >6DD@ :? 7F?K:@?6 *: A@EC6336 @C:8:?2C6 56== 6?6C8:2 2 >:4C@@?56 ):FE:=:KK2C6 = 2AA2C6449:@ D@=@ F?2 G@=E2 C:A2C2E@ 'A<1>25/5 ->>A335:5@1 ):D49:@ 5: 8C2G: 52??: 2==2 D2=FE6 ? 42D@ 5:
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
1B-:01 '6C:4@=@ 5: 3CF4:2EFC6 FC2?E6 := C:D42=52>6?E@ 5: =:BF:5: D: AFb G6C:7:42C6 F? C:E2C5@ ?6= AC@46DD@ 5: 63@==:K:@?6 ? 2=EC: E6C>:?: =2 E6>A6C2EFC2 5: 63@==:K:@?6 G:6?6 C288:F?E2 D6?K2 496 D: 7@C>:?@ =6 E:A:496 3@==:4:?6 5: G2A@C6 ?496 F? FCE@ =6886C@ 56= C64:A:6?E6 AFb 42FD2C6 = :>AC@GG:D@ EC23@442C6 56= =:BF:5@ @ =2 7@C>2K:@?6 5: DACFKK: (F2?5@ D: C:D42=52?@ =:BF:5: 288:F?86C6 D6>AC6 F? 4F449:2:@ ?6= 4@?E6?:E@C6 :? >@5@ 52 6G:E2C6 F? C:E2C5@ 56= AC@46DD@ 5: 63@==:K:@?6 '6C:4@=@ 5: 6DA=@D:@?6
??5//-F5;:1 01385 -8591:@5 8591:@5 - .
)?; 0188- 2A:F5;:1 95/>;;:01 ?1:F- -8591:@5 -88 5:@1>:; 018 2;>:; 8591:@5 A9505 EE:G2C6 = 2AA2C6449:@ 2 >:4C@@?56 D@=@ 5@A@ 2G6C :?D6C:E@ 8=: 2=:>6?E: ?6= G2?@ 4@EEFC2 *6?K2 2=:>6?E: D: AFb 42FD2C6 := D@GC2442C:4@ 56== 2AA2C6449:@ DE6DD@ # F?:42 6446K:@?6 4@?D6?E:E2 [ BF6==2 5: F? 3C6G6 E6DE A6C =6 DE@G:8=:6 % ( ! #' %&! "$!"!% &! (( $& * $ & ( " &! %@? 4@?D6CG2C6 2=:>6?E: F>:5: 2== :?E6C?@ 56= G2?@ 5: 4@EEFC2 49:FD@ A6C A6C:@5: 5: E6>A@ AC@=F?82E: #@ D>2=E@ G:6?6 52??688:2E@
'181@@;>5 $A8?-:@5 (-?@5 D6=6EE@C: D@?@ >2?@A@=6 2 D4@>A2CD2 '6C 6DEC2C=: 6 C6:?D6C:C=: AC6>6C=: BF2?5@ D: EC@G2?@ :? A@D:K:@?6 K6C@ *@EE@ 4:2D4F? AF=D2?E6 [ AC6D6?E6 F? D6?D@C6 %@? AC6>6C6 4@? EC@AA2 7@CK2 +@442C6 D@=@ := D:>3@=@ 4@CC:DA@?56?E6 446K:@?6 := E2DE@ D6C:6 5 :>A@DE2K 6 : E2DE: A6C =6 A@E6?K6 >:4C@@?56 D@?@ ?@C>2=: AF=D2?E: 2 AC6DD:@?6 @? : E2DE: [ A@DD:3:=6 :>A@DE2C6 5:G6CD6 7F?K:@?: %6= 5:DA=2J G6?8@?@ G:DF2=:KK2E: : G2=@C: :>A@DE2E: -1&303 92>-32) ()0 8%783 )6C D6=6K:@?2C6 F?2
'181@@;>1 2A:F5;:5 37->-32) @? := D6=6EE@C6 7F?K:@?: [ A@DD:3:=6 :>A@DE2C6 := E:A@ 5: C:D42=52>6?E@ -43 (- 98-0->>3 )@D:K:@?6 K6C@ "= 7@C?@ Z DA6?E@ &:4C@@?56 )6C D6=6K:@?2C6 =2 7F?K:@?6 >:4C@@?56 C:2 42=52 )6C 4F@46C6 E@CE6 >@C3:56 :? DE2>A: E@CE6 5: )2? 5: ,A28?2 6 C:4@EE2 @AAFC6 E@CE6 D2=2E6 A:KK2 6 A:44@=: AC@5@EE: 52 7@C?@ DF==2 E68=:2 C:== 2C:2 42=52 Q A2CE:4@=2C>6?E6 252EE@ 2==2 4@EEFC2 2CC@DE@ 5: A:44@=6 A@CK:@?: 5: 42C?6 C:== G6?E:=2E@ )6C 4F@46C6 := A@==2>6 C6?56?5@=@ 5@C2E
*-:; 05 /;@@A>*1:@;8- 05 >-22>100-91:@; # 2AA2C6449:@ 5:DA@?6 5: F?2 G6?E@=2 5: C277C6552>6?E@ #2 G6?E@=2 5: C277C6552>6?E@ 6?EC2 :? 7F?K:@?6 # 2C:2 42=52 7F@C:6D46 2EEC2G6CD@ =2 A@CE2 @@1:F5;:1 %@? 4@AC:C6 =6 76DDFC6 5: 26C2K:@?6 ? 42D@ 4@?EC2C:@ := 7@C?@ D: DFCC:D42=52 @A@ = FE:=:KK@ 56== 2AA2C6449:@ =2 G6?E@=2 5: C277C6552>6?E@ C6DE2 2EE:G2 2?4@C2 A6C F? 46CE@ A6C:@5@ 5: E6>A@ BB1>@1:F1 FC2?E6 := 7F?K:@?2>6?E@ 2 >:4C@@?56 = 2AA2C6449:@ C:>2?6 7C655@ +FEE2G:2 =2 G6?E@=2 5: C277C6552>6?E@ 6?EC2 :?
6-+0-% A6C DE@G:8=:6 DE2>A: A6C 5@=4: 42C?: 2==2 8C:8=:2 6 A:2EE: DFC86=2E: Q A@DD:3:=6 6DEC2CC6 =2 8C:8=:2 A6C 5F6 E6CK: D6?K2 496 BF6DE2 D: C:32=E: :? >@5@ 52 A@E6C 2776CC2C6 724:=>6?E6 =6 A:6E2?K6 )+0-% (% *3623 71%08%8% A6C 5@=4: 6 3:D4@EE:?: "?7@C?2C6 =2 =6442C52 4@? := E28=:@ @3=:BF@ C:G@=E@ G6CD@ =2 A@CE2 56= 7@C?@ 7:?49[ D: :?D6C:D46 4@>A=6E2>6?E6 ?6= 7@C?@ %2 E68=:2 52 7@C?@ D>2=E2E2 ?@? Z 252EE2 A6C =2 >@52=:EV 5: 7F?K:@?2>6?E@ 4@>3:?2E2 ?6= 7@C?@ 2 >:4C@@?56 6-+0-% 4)6 1-'6332() A6C 4F@46C6 :?
9<;?@-F5;:1 0188 ;>- @A@ = 2==244:2>6?E@ DF= 5:DA=2J =2>A688:2?@ BF2EEC@ K6C: >A@DE2C6 = @C2 2EEF2=6 'C6>6C6 := E2DE@ @ -2=@C6 AC@A@DE@ -2=@C6 AC@A@DE@ >A@DE2C6 = @C2 4@? := E2DE@ @ 'C6>6C6 := E2DE@ # @C2 [ :>A@DE2E2 BB1>@1:FR A@DD:3:=6 ?2D4@?56C6 = @C2 2= 7:?6 5: C:5FCC6 := 4@?DF>@ :? DE2?5h3J 56== 2AA2C6449:@ E2= AC@A@D:E@ 4@?DF=E2C6 := 42A:E@=@ ! "!%& * ! % &5?/-80-91:@; 018 2;>:; '6C 6=:>:?2C6 = @5@C6 56== 2AA2C6449:@ ?F@G@ 72C C:D42=52C6 := 7@C?@ GF
&13;8-F5;:1 018 2;>:; D:DE@?@ 5:G6CD6 A@DD:3:=:EW 5: C68@=2K:@?6 56= 7@C?@ -6?8@?@ BF: :==FDEC2E6 =6 >@52=:EW 5: C68@=2K:@?6 56= E:A@ 5: C:D42=52>6?E@ 56==2 E6>A6C2EFC2 @ 56= 8C25@ 8C:== '6C @8?: A:6E2?K2 [ A@DD:3:=6 C68@=2C6 DF= 7@C?@ =2 5FC2E2 5: 4@EEFC2 E2= AC@A@D:E@ 4@?DF=E2C6 := 42A:E@=@ "!%& * ! " $ &$ & "! 9<;?@-F5;:1 018 @5<; 05 >5?/-80-91:@; 1 0188- @19<1>-@A>- D6>A:@ ?6==2 7:8FC2 C:== 2C:2 42=52 2 N >A@DE2C6 := E:A@ 5: C:D42=52>6?E@ FE:=:KK2?5@ := D6=6EE@C6 7F?K:@?:
<>5>1 8- <;>@- 018 2;>:; 0A>-:@1 58 2A:F5;:-91:@; = 7F?K:@?2>6?E@ D: 2CC6DE2 @A@ 2G6C 49:FD@ =2 A@CE2 AC6>6C6 := E2DE@ # 2AA2C6449:@ C:AC6?56 2 7F?K:@?2C6 A:F5;:1 <-A?- 'C6>6C6 := E2DE@ := 7F?K:@?2>6?E@ G:6?6 :?E6CC@EE@ 'C6>6C6 := E2DE@ := 7@C?@ C:AC6?56 2 7F?K:@?2C6 '<13:591:@; 018 2;>:; )F@E2C6 := D6=6EE@C6 7F?K:@?: :? A@D:K:@?6 K6C@ !;0525/- 01881 59<;?@-F5;:5 R A@DD:3:=6 >@5:7:42C6 :? @8?: >@>6?E@ := E:A@ 5: C:D42=52>6?E@ 6 =2 E6>A6C2EFC2 @ := =:G6==@ 8C:== 4@? := C6=2E:G@ D6=6EE@C6
8 2;>:; - 95/>;;:01 #6 >:4C@@?56 G6?8@?@ EC2D7@C>2E6 :? 42=@C6 ?68=: 2=:>6?E: = 7@C?@ 2 >:4C@@?56 AFb 6DD6C6 FE:=:KK2E@ 52 D@=@ @AAFC6 :? 233:?2>6?E@ 2 F? 2=EC@ E:A@ 5: C:D42=52>6?E@ (F6DE2 D6K:@?6 4@?E:6?6 :?7@C>2K:@?: C6=2E:G6 2==6 DE@G:8=:6 6 :DECFK:@?: DF 4@>6 :>A@DE2C6 := 7@C?@ 2 >:4C@@?56 BB1>@1:F= 42A:E@=@ %& & !%&$! !$ &!$ ! AC6D6?E2 6D6>A: C6=2E:G: 2==@ D4@?86=2>6?E@ 2= C:D42=52>6?E@ 6 2==2 4@EEFC2 4@? := >:4C@@?56 BB1>@1:F1 <1> 81 ?@;B53851 '@;B53851 -0-@@1 *@?@ 2AAC@AC:2E6 =6 DE@G:
? 42D@ 5: 5F33:@ 4:C42 = 2568F2E6KK2 56==6 DE@G:8=:6 2== FD@ ?6= 7@C?@ 2 >:4C@@?56 D: 4@?D:8=:2 5: 6776EEF2C6 := D68F6?E6 E6DE :?EC@5FCC6 =2 A6?E@=2 GF@E2 ?6== 2AA2C6449:@ A6C P h >:?FE@ 2==2 >2DD:>2 A@E6?K2 @?EC@==2C6 C68@=2C>6?E6 =2 E6>A6C2EFC2 #2 A6?E@=2 56G6 6DD6C6 7C6552 @ E:6A:52 %6= 42D@ :? 4F: D:2 42=52 @ BF2=@C2 D: 7@C>:?@ D4:?E:==6 =2 A6?E@=2 ?@? [ 252EE2 $;@1:F1 95/>;;:01 >A@DE2C6 =2 A@E6?K2 >:4C@@?56 56D:56C2E2 >65:2?E6 : E2DE: 0 )6C D4@?86=2C6 4:3: 56=:42E: 0 )6C D4@?86=2C6 6 4@
- 0A>-@- L @>-?/;>?- -:6?6 6>6DD@ F? D68?2=6 24FDE:4@ = 7F?K:@?2>6?E@ 56= 7@C?@ >:4C@@?56 [ E6C>:?2E@ )F@E2C6 := D6=6EE@C6 7F?K:@?: :? A@D:K:@?6 K6C@ = D68?2=6 24FDE:4@ AFb 6DD6C6 5:D2EE:G2E@ 2?E:4:A2E2>6?E6 4@? := E2DE@ <1>@A>- 0188- <;>@- 018 2;>:; 0A>-:@1 58 2A:F5;:-91:@; = 7F?K:@?2>6?E@ D: 2CC6DE2 @A@ =2 49:FDFC2 56==2 A@CE2 AC6>6C6 3C6G6>6?E6 := E2DE@ # 2AA2C6449:@ C:AC6?56 2 7F?K:@?2C6 !;0525/- 0188- 0A>-@- R D6>AC6 A@DD:3:=6 $@5:7:42C6 =2 5FC2E2 4@? := E2DE@ @ !;0525/- 0188- <;@1:F95/
(5<5 05 >5?/-80-91:@; -<<>;<>5-@5 C:2 42=52 C:== 2C:2 42=52 C:== G6?E:=2E@ C:== DFA6C7:4:6 8C2?56 C:== DFA6C7:4:6 A:44@=2 9<;?@-F5;:1 018 !5/>; ;9.5 D6>A:@ $:4C@@?56 .
'1>51 0 59<;?@-F5;:5 @? =2 7F?K:@?6 *6C:6 5 :>A@DE2K:@?: [ A@DD:3:=6 :>A@DE2C6 7:?@ 2 EC6 A@E6?K6 >:4C@@?56 6 E6>A: 5: 4@EEFC2 5:G6CD: :? D6BF6?K2 6 DF446DD:G2>6?E6 2GG:2C6 =2 4@EEFC2 '@;B53851 125:5F5;:1 05 A:?1>51 0 59<;?@-F5;:5 ,E:=:KK2C6 D6>AC6 DE@G:8=:6 C67C2EE2C:6 252EE6 2= 7@C?@ 2 >:4C@@?56 67:?:C6 F?2 5FC2E2 A6C 4:2D4F?2 D6C:6 5 :>A@DE2K:@?: '@CE2C6 := D6=6EE@C6 7F?K:@?: DF 'C6>6C6 := E2DE@ *F= 5:DA=2J G:6?6 G:DF2=:KK2E@ A6C =2 AC:>2 D6C:6 5 :>A@DE2K:@?: >A@DE2C6 =2 AC:>
!;0525/- 0188 59<;?@-F5;:1 # :>A@DE2K:@?6 AFb 6DD6C6 >@5:7:42E2 D@=@ AC:>2 56== 2GG:@ 'C6>6C6 := E2DE@ 7:?49\ ?@? 4@>A2C6 := ?F>6C@ 56==2 D6C:6 5 :>A@DE2K:@?: 56D:56C2E@ $@5:7:42C6 = :>A@DE2K:@?6 5 @-:@; 5: @-:@; -<>5>1 8<;>@- 018 2;>:; = 7F?K:@?2>6?E@ D: 2CC6DE2 @A@ 2G6C 49:FD@ =2 A@CE2 AC6>6C6 5: ?F@G@ := E2DE@ # 2AA2C6449:@ C:AC6?56 2 7F?K:@?2C6 A:F5;:1 <-A?- 'C6>6C6 3C6G6>6?E6 := E2DE@ = 7@C?@ [ :? A2FD2 'C6>6C6 5: ?F@G@ := 7@C?@ C:AC6?56 2 7F?K:@?2C6 :@1>>AF5;:1 018 2A:F5;:-91:@; +
'@CE2C6 := D6=6EE@C6 7F?K:@?: DF==2 AC@8C2>>2K:@?6 2FE@>2E:42 *F= 5:DA=2J 4@>A2C6 := AC:>@ ?F>6C@ 56= AC@8C2>>2 *6=6K:@?2C6 := ?F>6C@ 56= AC@8C2>>2 4@? := E2DE@ @ 'C6>6C6 := E2DE@ *F= 5:DA=2J 4@>A2C6 <8 4@>6 :>A@DE2K:@?6 AC6567:?:E2 56= A6D@
>A@DE2C6 := A6D@ 4@? := E2DE@ @ 'C6>6C6 := E2DE@ = AC@8C2>>2 D: 2GG:2 = 5:DA=2J G:DF2=:KK2 =@ D4@CC6C6 56= E6>A@ :? AC:>@ A:2?@ 6 := D:>3@=@ [ C2449:FD@ EC2 A2C6?E6D: 8 <>;3>-99- L /;:/8A?; -:6?6 6>6DD@ F? D68?2=6 24FDE:4@ = AC@8C2>>2 [ E6C>:?2E@ := 7@C?@ D>6EE6 5: C:D42=52C6 'C6>6C6 := E2DE@ 6 A@CE2C6 := D6=6EE@C6 7F?K:@?: :? A@D:K:@?6 K6C@ !;0525/- 018 <>;3>-99- @A@ = 2GG:@ ?@? [ A:e A@DD:3:=6 >@5:7:42C6 := ?F>6C@ 56= AC@8C2>>2 6 := A6D@ 5?-@@5B-F5;:1 -:@5/5<-@018 ?13:-81 <1>@A>-
BB1>@1:F1 >18-@5B1 -88- 2A:F5;:1 05 /;@@A>- -A@;9-@5/- +@8=:6C6 8=: 2=:>6?E: 52== :>32==288:@ 6 A6D2C=: *6 ?@? D: 4@?@D46 := A6D@ AC64:D@ 2CC@E@?52C6 A6C 6446DD@ @ A6C 5:76EE@ :DA@CC6 = 2=:>6?E@ DF F? A:2EE@ 5: G6EC@ @ A@C46==2?2 @ 5: F? 2=EC@ >2E6C:2=6 252EE@ 2= 7@C?@ 2 >:4C@@?56 D6?K2 ?6DDF? 4@A6C49:@ $6EE6C6 8=: 2=:>6?E: ?6= 7@C?@ 7C655@ ? 2AA6?5:46 2==6 2GG6CE6?K6 D: EC@G2 F?2 E236==2 4@? 2=:>6?E: 252EE: : 4@CC:DA@?56?E: 2>3:E: 5: A6D@ 6 8=: 2446DD@C: ?646DD2C: %@? [ A@DD:3:=6 :>A@DE2C6 G2=@C: 5:
*1>0A>1 -6C5FC2 7C6D42 E28=:2C6 2 76EE6 5: F8F2=: 5:>6?D:@?: 88:F?86C6 F? 4F449:2:@ 5 24BF2 @8?: 8 -6C5FC2 4@?86=2E2 A6C BF6DE@ AC@8C2>>2 D: AFb FD2C6 D@=E2?E@ 56==2 G6C5FC2 D3@==6?E2E2 ?@? AC64@EE2 #6 G6C5FC6 DFC86=2E6 4@? 4C6>2 2==2 A2??2 ?@? D@?@ 252EE6 88:F?86C6 52 2 4F449:2: 5 24BF2 '6C 8=: DA:?24: 6 := 42G@=@ C@DD@ ?@? D: 56G6 288:F?86C6 24BF2 $-@-@1 81??1 +28=:2C6 2 76EE6 5: F8F2=: 5:>6?D:@?: 88:F?86C6 F? 4F449:2:@ 5 24BF2 6 F? A:KK:4@ 5: D2=6 @8?: 8 5: A2E2E6 &5?; %@? FE:=:KK2C6 C:D@
(-.
? 463+6 0-1)28- %(%88- %2D28?6 2= C28c DFC86=2E6 )@==@ 7C6D4@ 1&-83 (4)73 -2 /+ 83:-+0-) %'')7736- 0-:)003 (- -27)6-1)283 g ,E@G:8=:2 D6?K2 4@A6C49:@ @?5@ 56= G2?@ 5: 4@EEFC2 )@==@ :?E6C@ g ,E@G:8=:2 4@? 4@A6C49:@ @?5@ 56= G2?@ 5: 4@EEFC2 )@CK:@?: 5: A@==@ 7C6D4@ @D46 5: A@==@ >6EV A@==@ g ,E@G:8=:2 4@? 4@A6C49:@ @?5@ 56= G2?@ 5: 4@EEFC2 )@=A6EE@?6 2=E@ 42 4> g ,E@G:8=:2 D6?K2 4@A6C49:@ @?5@ 56= G2?@ 5: 4@EEFC2 CC@DE@ 5: >2
@A@ 2=4F?: D64@?5: G:6?6 24BF:D:E2 = @C2 :>A@DE2E2 = 4@?E2>:?FE: D: 2GG:2 *F= 5:DA=2J 2AA2C6 := D:>3@=@ 0 1 6 := E6>A@ 56= 4@?E2>:?FE: =: 2=EC: D:>3@=: 5: E6>A@ D: DA6?8@?@ 8 @19<; 018 /;:@-95:A@5 L @>-?/;>?; -:6?6 6>6DD@ F? D68?2=6 24FDE:4@ *F= 5:DA=2J 4@>A2C6 :D2EE:G2C6 := 4@?E2>:?FE: 4@? := E2DE@ !;0525/- 018 @19<; 018 /;:@-95:A@5 @? := E2DE@ @ >@5:7:42C6 := E6>A@ 56= 4@?E2>:?FE: @A@ 2=4F?: D64@?5: G:6?6 24BF:D:E2 =2 >@5:7:42 -:/188-F5;:1 018 @19<; 018 /;:@-95:A@5 *6CG6?5@D: 56= E2DE@
@? := E2DE@ @ :>A@DE2C6 =2 5FC2E2 'C6>6C6 := E2DE@ = 7@C?@ 6?EC2 :? 7F?K:@?6 *F= 5:DA=2J D4@CC6 =2 5FC2E2 6 4@>A2C6 := D:>3@=@ 0 1 =: 2=EC: D:>3@=: 5: E6>A@ D: DA6?8@?@ - 0A>-@- L @>-?/;>?- !;0525/- 0188- 0A>-@- -:6?6 6>6DD@ F? D68?2=6 24FDE:4@ = C:D42=52>6?E@ 56= 7@C?@ 92 E6C>:?6 *F= 5:DA=2J 4@>A2C6 = D68?2=6 AFb 6DD6C6 5:D2EE:G2E@ 2?E:4:A2E2>6?E6 4@? := E2DE@ )F@E2C6 := D6=6EE@C6 7F?K:@?: :? A@D:K:@?6 K6C@ = 7@C?@ [ DA6?E@ $@5:7:42C6 =2 5FC2E2 4@? := E2DE@ @ @A@ 2=4F?: D64@?5: G
-:/188-F5;:1 0188- 0A>-@- *6CG6?5@D: 56= E2DE@ :>A@DE2C6 =2 5FC2E2 DF @A@ 2=4F?: D64@?5: =2 >@5:7:42 G:6?6 24BF:D:E2 #2 5FC2E2 G:6?6 42?46==2E2 = E6C>:?6 56= E6>A@ :>A@DE2E@ AC6>6C6 AC:>2 := E2DE@ *1>525/- 01881 59<;?@-F5;:5 05 0A>-@- *6 D@?@ DE2E6 :>A@DE2E6 A:e 7F?K:@?: 5FC2E2 ?6= 5:DA=2J 4@>A2:@?@ : D:>3@=: 4@CC:DA@?56?E: '6C G6C:7:42C6 = :>A@DE2K:@?6 5: 4@?E2>:?FE: 5FC2E2 @C2 2EEF2=6 AC6>6C6 := E2DE@ 7:?49\ =6 A2C6?E6D: ?@? D: A@D:K:@?2?@ DF= D:>3@=@ 56D:56C2E@ '6C 2=4F?: D64@?5:
'5/A>1FF- .-9.5:; '6C 6G:E2C6 496 : 32>3:?: A@DD2?@ :?2GG6CE:E2>6?E6 2446?56C6 := 7@C?@ = 2AA2C6449:@ [ 5@E2E@ 5: F?2 D:4FC6KK2 32>3:?@ = 7@C?@ ?@? C628:D46 2 ?6DDF?2 :>A@DE2K:@?6 = 4@?E2>:?FE: 6 = @C2 A@DD@?@ 6DD6C6 :>A@DE2E: 2?496 BF2?5@ =2 D:4FC6KK2 32>3:?@ [ 2EE:G2 @@5B-F5;:1 ?5/A>1FF.-9.
14378%>-32) &%7) 377-&-0-8A 4-)+%>-32) -@?@ AF=D2?E: (' -@?@ AF=D2?E: ( -@?@ 5: 4@?76C>2 :? D68F:E@ 2==2 AC6DD:@?6 5: F? E2DE@ -6>A@ 5: 2EE6D2 >65:2 D64@?5: 3C6G6 D64@?5: =F?82 D64@?5: -6>A@ 5: 2EE6D2 EC2 =6 D:?8@=6 72D: D64@?5@ = :>A@DE2K:@?6 /@=F>6 D68?2=6 24FDE:4@ >65:@ 32DD@ 2=E@ /@=F>6 56= D68?2=6 @?5:K:@?6 :?5:DA6?D23:=6 = 2AA2C6449:@ [ DA6?E@ 'C6>6C6 := E2DE@ A6C 2=4F?: D64@?5: = 5:DA=2J G:DF2=:KK2 =2 AC:>2 :>A@DE2K:@?6 5: 32D6 $@5:7:42C6 =
BB1>@1:F1 #:6G: 5:776C6?K6 5: 4@=@C6 DF= =2E@ 7C@?E2=6 56== 2AA2C6449:@ D@?@ 5@GFE6 2 5:G6CD: >2E6C:2=: BF2=: G6EC@ A=2DE:42 @ >6E2==@ G6?EF2=: @>3C688:2EFC6 ?6= G6EC@ 56==2 A@CE2 D:>:=: 2 DEC:2EFC6 D@?@ 5@GFE6 2= C:7=6DD@ 56==2 =F46 56==2 =2>A252 56= 7@C?@ =: @5@C: D8C256G@=: A6C 6D6>A:@ 5@GFE: 2==2 AC6A2C2K:@?6 5: A6D46 A@DD@?@ 6DD6C6 6=:>:?2E: 724:=>6?E6 88:F?86C6 BF2=496 8@44:2 5: DF44@ 5: =:>@?6 :? F?2 E2KK2 5 24BF2 $6EE6C6 F? 4F449:2:@ ?6= 4@?E6?:E@C6 A6C 6G:E2C6 C:E2C5: ?6= C288:F?8:>6?E@ 56
)8836) )8)6+)28- /2?@ 5: 4@EEFC2 ,@=FK:@?6 5: =2G288:@ 42=52 @ 24BF2 6 246E@ AF=:C6 4@? F?2 DAF8?2 6 2D4:F82C6 4@? F? A2??@ >@C3:5@ "? 42D@ 5: DA@C4@ C6D:DE6?E6 FE:=:KK2C6 := 56E6C86?E6 D@=E2?E@ BF2?5@ := 7@C?@ D: Z 4@>A=6E2>6?E6 C277C6552E@ /2?@ 5: 4@EEFC2 :? 244:2:@ :?@I '@? FE:=:KK2C6 DAC2J A6C 7@C?@ 2=EC: 56E6C86?E: 288C6DD:G: @ 23C2D:G: '@? D@?@ 252EE6 ?62?496 =6 DAF8?6EE6 23C2D:G6 CFG:56 @ :? >6E2==@ A@:49[ 8C277:2?@ =2 DFA6C7:4:6 2C6 2D4:F82C6 4@>A=6E2>6?E6 =6 DFA6C7:4: :?E6C?6 @A6CEFC2 :
BB1>@1:F1 59<;>@-:@5 %@? FE:=:KK2C6 >2: 56E6C86?E: A6C 7@C?@ A6C =2 AF=:K:2 56==6 DFA6C7:4: 2FE@AF=6?E: %6= 42D@ :? 4F: := 56E6C86?E6 A6C 7@C?@ G6?82 244:56?E2=>6?E6 2 4@?E2EE@ 4@? =2 A2C6E6 A@DE6C:@C6 C:>F@G6C=@ :>>65:2E2>6?E6 4@? F?2 DAF8?2 6 233@?52?E6 24BF2 %@? FE:=:KK2C6 56E6C86?E: 23C2D:G: (F6DE: F=E:>: A@DD@?@ 8C277:2C6 @ 52??688:2C6 :CC6A2C23:=>6?E6 =@ DEC2E@ A@C@D@ %@? FE:=:KK2C6 >2: A28=:6EE6 :? 2==F>:?:@ A6C =2 AF=:K:2 56==6 DFA6C7:4: 2FE@AF=6?E: ,?2 =6886C2 G2C:2K:@?6 4C@>2E:42 56==@ D>2=E@ ?@
9%783 377-&-0) '%97% -1)(-3 %::)68)2>) % 2AA2C6449:@ AA ?@? 7F?K:@?2 %2 DA:?2 ?@? Z :?D6C:E2 "?D6C:C6 =2 DA:?2 2=@ 5: 4@CC6?E6 /6C:7:42C6 496 =2 =2>A252 56==2 4F4:?2 7F?K:@?: "= 5:DA@D:E:G@ 5: D:4FC6KK2 Z 5:76EE@D@ @?EC@==2C6 ?6==2 D42E@=2 56: 7FD:3:=: 496 := 5:DA@D:E:G@ 5: D:4FC6KK2 56== 2AA2C6449:@ D:2 :? A6C76EE6 4@?5:K:@?: .
9%783 377-&-0) '%97% -1)(-3 %::)68)2>) "= 5:DA=2J G:DF2=:KK2 := >6DD288:@ 5: 6CC@C6 L C L-2DE@ 3=@442E@ " E2DE: D@?@ DA@C49: @ := >6442?:D>@ Z 3=@442E@ )C6>6C6 A:c G@=E6 EFEE: : E2DE: )F=:C6 : E2DE: FE:=:KK2?5@ F? A2??@ 2D4:FEE@ AC:C6 6 49:F56C6 =2 A@CE2 56== 2AA2C6449:@ ,6 := AC@3=6>2 ?@? D: 5@G6DD6 C:D@=G6C6 C:G@=86CD: 2= D6CG:K:@ 5: 2DD:DE6?K2 E64?:42 "= 5:DA=2J G:DF2=:KK2 := >6DD288:@ 5: 6CC@C6 L C ,: Z G6C:7:42E@ F? DFCC:D42=52>6?E@ 6446DD:G@ A@DD:3:=6 7F@4@ ?6= G2?@ :?E6C?@ )@E6?K2
:D2EE:G2C6 := 7FD:3:=6 ?6==2 C6=2E:G2 D42E@=2 @ DE2442C6 =2 DA:?2 AC:C6 =2 A@CE2 56== 2AA2C6449:@ ==6?E2C6 =6 5F6 G:E: 2 56DEC2 6 2 D:?:DEC2 56= 7@C?@ *E6?56C6 F? 42?@G244:@ ?6= 7@C?@ 7C655@ A6C 6G:E2C6 5: 52??688:2C=@ +:C2C6 7F@C: = 2AA2C6449:@ D@==6G2?5@=@ 4@? 42FE6=2 *G:E2C6 =2 G:E6 56==2 AC@E6K:@?6 56==2 =2>A252 ?6==2 A2C6E6 =2E6C2=6 D:?:DEC2 6 C:>F@G6C6 =2 AC@E6K:@?6 :8FC2 +@8=:6C6 =2 =2>A25:?2 2=@86?2 :8FC2 AA=:42C6 =2 =2>A25:?2 2=@86?2 ?F@G2 :8FC2 ):2GG:E2C6 =2 AC@E6K:@?6 5
'1>B5F5; 05 -??5?@1:F- @1/:5/= D6CG:K:@ 5: 2DD:DE6?K2 E64?:42 [ 2 5:DA@D:K:@?6 A6C 6G6?EF2=: C:A2C2K:@?: = ?F>6C@ 5: E6=67@?@ 6 = :?5:C:KK@ 56= 46?EC@ 5: 2DD:DE6?K2 E64?:42 A:e G:4:?@ D@?@ :?5:42E: ?6== 6=6?4@ E6=67@?:4@ ?496 : 46?EC: 5: 2DD:DE6?K2 4:E2E: D@?@ 5:DA@?:3:=: 2 7@C?:C6 :?7@C>2K:@?: 4:C42 := AF?E@ 5: 2DD:DE6?K2 A:e G:4:?@ ;05/1 018 <>;0;@@; 1 :A91>; 05 <>;0AF5;:1 (F2?5@ 4: D: C:G@=86 2= D6CG:K:@ 5: 2DD:DE6?K2 E64?:42 :?5:42C6 := 4@5:46 56= AC@5@EE@ 6 := ?F>6C@ 5: AC@5FK:@?6
:>6?D:@?: !I%I) g AA2C6449:@ I I 4> g /2?@ 5: 4@EEFC2 I I 4> -6DE2E@ / 6?E6 5: 46CE:7:42K:@?6 E656D4@ D^ @?EC2DD68?@ D^ (F6DE@ 2AA2C6449:@ [ 4@?7@C>6 2==6 ?@C>6 % @ *') *: EC2EE2 5: F? AC@5@EE@ 56= 8CFAA@ 4=2DD6 CFAA@ D:8?:7:42 496 =6 >:4C@@?56 G6?8@?@ 86?6C2E6 2: 7:?: 56= C:D42=52>6?E@ 6 56==2 4@EEFC2 5: 2=:>6?E: =2DD6 :?5:42 496 = 2AA2C6449:@ [ 252EE@ 2== FD@ :? 2>3:E@ 5@>6DE:4@ '9-8@591:@; 1/;/;9<-@5.
(1?@-@5 :18 :;?@>; 8-.
%6==6 E236==6 D@?@ DA6DD@ C:A@CE2E: 8=: 2>3:E: 5: E6>A@ >A@DE2C6 52AAC:>2 := E6>A@ >:?:>@ 6 AC@=F?82C=@ D6 ?646DD2C:@ G2=@C: 5: BF2?E:EW :?5:42E: ?6==6 E236==6 A@EC6336C@ 6DD6C6 5:776C6?E: 52 BF6==: 5: 4F: D: 5:DA@?6 D:DE6 2 BF6DE@ AC@A@D:E@ F?2 C68@=2 2AAC@DD:>2E:G2 @AA:2 BF2?E:EW E6>A@ BF2D: 5@AA:@ (F2?E:EW 5:>6KK2E2 5FC2E2 5: 4@EEFC2 5:>6KK2E2 #6 A6?E@=6 A@DD@?@ 6DD6C6 5:DA@DE6 2= 46?EC@ 56==2 8C:8=:2 @ DF= 7@?5@ 56= G2?@ 4@EEFC2 ? BF6DE@ >@5@ =6 >:4C@@?56 A@DD@?@ C288:F?86C6 8=: 2=:>6?E: 52 EFEE6
9%28-8A 38)2>% 1-'6332() -2 ;%88 (96%8% -2 1-298- ::)68)2>) 2C?6 EC:E2E2 >:DE2 0 >:? 0 >:? 0 g >:? 0 >:? 0 g >:? 2C DFC86=2C6 A@DD:3:=>6?E6 :? A@D:K:@?6 A:2?2 /@=E2C6 5: E2?E@ :? E2?E@ 6 C:>F@G6C6 =2 42C?6 EC:E2E2 8:V D4@?86=2E2 )@==2>6 :?E6C@ 6 A@CK:@?: 5: A@==2>6 8 8 0 >:? 0 g >:? 0 >:? 0 g >:? /@=E2C6 5FC2?E6 BF6DE@ :?E6CG2==@ 5: E6>A@ ?2EC2 8 0 >:? 0 g >:? /@=E2C6 C:A6EFE2>6?E6 (42 8 0
'@:49\ 8=: 2=:>6?E: 4@? >:?@C6 DA6DD@C6 4F@4:@?@ A:e C2A:52>6?E6 D: 4@?D:8=:2 5: 5:DEC:3F:C6 A6C BF2?E@ A@DD:3:=6 =6 A:6E2?K6 DF= 7@?5@ 56= 4@?E6?:E@C6 %@? 5:DA@CC6 8=: 2=:>6?E: 2 DEC2E: @AC:C6 D6>AC6 =6 A:6E2?K6 *6 ?@? D: 5:DA@?6 5: F? 4@A6C49:@ 2AAC@AC:2E@ A6C := 4@?E6?:E@C6 FE:=:KK2C6 F? A:2EE@ @5 F?@ DA64:2=6 7@8=:@ A6C 7@C?: 2 >:4C@@?56 $6D4@=2C6 @ G@=E2C6 8=: 2=:>6?E: @ G@=E6 ,?2 G@=E2 4@?4=FD@ := C:D42=52>6?E@ =2D4:2C6 C:A@D2C6 =6 A:6E2?K6 2?4@C2 A6C h >:?FE: A6C 4@>A6?D2C6 =2 E6>A6C2EFC
FC2?E6 := C:D42=52>6?E@ 5: =:BF:5: >6EE6C6 D6>AC6 F? 4F449:2:?@ 52 4277[ ?6= 4@?E6?:E@C6 2= 7:?6 5: 6G:E2C6 F? C:E2C5@ 5: 63@==:K:@?6 ? 42D@ 5: C:E2C5@ 5: 63@==:K:@?6 =2 E6>A6C2EFC2 5: 63@==:K:@?6 G:6?6 C288:F?E2 D6?K2 DG:=FAA@ 56==6 E:A:496 3@==6 5: G2A@C6 ?496 D4F@E6?5@ >:?:>2>6?E6 := 4@?E6?:E@C6 := =:BF:5@ AFb :>AC@GG:D2>6?E6 EC23@442C6 @ 6>6EE6C6 DACFKK: 4@? G:@=6?K2 (F6DE@ AFb 42FD2C6 76C:E6 6 D4@EE2EFC6 @AC:C6 D6>AC6 =6 A:6E2?K6 *6 ?@? D: 5:DA@?6 5: F? 4@A6C49:@ 2AAC@AC:2E@ A6C := 4@?E6?:E@C6 F
;@@A>- 01881 <51:@-:F1 '6C =2 4@EEFC2 56==6 A:6E2?K6 FE:=:KK2C6 DE@G:8=:6 4@? 4@A6C49:@ $6D4@=2C6 @ G@=E2C6 8=: 2=:>6?E: 5: E2?E@ :? E2?E@ = 8FDE@ 42C2EE6C:DE:4@ 56==6 A:6E2?K6 C6DE2 :?2=E6C2E@ G:E2C6 A6CE2?E@ 5: FE:=:KK2C6 D2=6 6 DA6K:6 :? 8C2?56 BF2?E:EW '@:49\ 8=: 2=:>6?E: 4@? >:?@C6 DA6DD@C6 4F@4:@?@ A:e C2A:52>6?E6 D: 4@?D:8=:2 5: 5:DEC:3F:C6 A6C BF2?E@ A@DD:3:=6 =6 A:6E2?K6 DF= 7@?5@ 56= 4@?E6?:E@C6 G:E2C6 D6 A@DD:3:=6 5: 5:DA@CC6 8=: 2=:>6?E: 2 DEC2E: ,?2 G@=E2 4@?4=FD2 =2 4@EEFC2 =2D4:2C6
;:?5385 <1> 8 A?; 0188- 2A:F5;:1 95/>;;:01 32 7323 59- *362-8) -2(-'%>-32-2 1)6-83 %00% 6)+30%>-32) ()00) 59%28-8A (- %0-1)28- )C@=F?82C6 @ C:5FCC6 : E6>A: 5: 4@EEFC2 D64@?5@ =2 D68F6?E6 C68@=2 2AAC@DD:>2E:G2 *F2?E:EV 5@AA:2 E6>A@ BF2D: 5@AA:@ *F2?E:EV 5:>6KK2E2 E6>A@ 5:>6KK2E@ % 4-)8%2>% D (-:)28%8% 863443 7)''% %2 AC@DD:>2 G@=E2 :>A@DE2C6 F? E6>A@ 5: 4@EEFC2 A:c 3C6G6 @AAFC6 D6=6K:@?2C6 F?2 A@E6?K2 >:4C@@?56 :?76C:@C6 -@8=:6C6 := 4@A6C49:@ 6 288:F?86C6 A:c =:BF:5@ !2% :308% 86%7'3673 0 -28)6
#2 E6>A6C2EFC2 6 =2 5FC2E2 56==2 4@EEFC2 5:A6?5@?@ 52==2 BF2?E:EW 6 52= E:A@ 5 :>A2DE@ '6C BF6DE@ >@E:G@ ?6==6 E236==6 D@?@ C:A@CE2E: : 42>A: 5: E6>A6C2EFC2 ?:K:2C6 4@? F? G2=@C6 :?76C:@C6 6 D6 ?646DD2C:@ :>A@DE2C6 =2 G@=E2 DF446DD:G2 F? A2C2>6EC@ A:e 6=6G2E@ ,?2 E6>A6C2EFC2 :?76C:@C6 A6C>6EE6 F?2 5@C2EFC2 A:e F?:7@C>6 '6C F=E6C:@C: :?7@C>2K:@?: G656C6 : L ! % " $ !&&'$ !$ ! C:A@CE2E: 5: D68F:E@ 2==6 E236==6 '@D:K:@?2C6 D6>AC6 =@ DE2>A@ 2= 46?EC@ 56==2 8C:8=:2 30'- 83:-+0-) -:)003 -43 (
30'- 83:-+0-) -:)003 38)2>% 1-'6332() ;%88 96%8% -2 1-298- -43 (6-7'%0(%L 1)283 )14)6%L 896% -2 ? @=46 2==6 ?@4: ,E2>A@ 2 46C?:6C2 0 g g -@CE2 2==2 7CFEE2 @ 2= BF2C< 4@? A2DE2 7C@==2 ,E2>A@ 2 46C?:6C2 0 g g @=46 2==2 7CFEE2 A2DE2 >:D46=2E2 7:?6 ,E2>A@ 2 D4@56==2 @ A6C DE2>A@ 2 46C?:6C2 0 g g -@CE6 D2=2E6 A6C 6D6>A:@ BF:496 E@CE2 2==6 4:A@==6 ,E2>A@ 2 46C?:6C2 @ A6C BF:496 0 g g )6C 8=: DE2>A: :? >6E2==@
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