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%+,6/ ./ 7+>3M +@/<>3==/7/8>= ./ =N-?<3>N @?D:8?6D 56 DY4FC:EY 2FD6D 56D 5@>>286D #/=:/-> ./ 6 /8@3<988/7/8> @?D6:=D A@FC Y4@?@>:D6C 56 = Y?6C8:6 + -?3==98 :+< 38.
%+,6/ ./ 7+>3M2E:BF6>6?E F?6 K@?6 56 4F:DD@? $2 >:?FE6C:6 !<9>/->398 ./ 8/>>9C+1/ 373>+>398 ./ >/7:= +?>97+>3;?/ #N16+1/= ./ ,+=/ 44Y56C 2FI CY8=286D 56 32D6 8>3/8 /> 8/>>9C+1/ ,23=6 56 4F:DD@? 25C6 56 =2 E23=6 56 4F:DD@? #N:+
98=/36= /> +@/<>3==/7/8>= ./ =N-?<3>N 3=/D +>>/8>3@/7/8> -/= 38=>->398= 6=2 6DE :?5:DA6?D23=6 A@FC A@FG@:C FE:=:D6C 4@CC64E6>6?E = 2AA2C6:= @?D6CG6K =6D :?DECF4E:@?D 5 FE:=:D2E:@? 6E 5 2DD6>3=286 +: G@FD C6>6EE6K = 2AA2C6:= T F?6 2FEC6 A6CD@??6 ;@:8?6K Y82=6>6?E =2 5@4F>6?E2E:@? 56 = 2AA2C6:= .
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/ :9=/D :+= . 9,4/>= 7N>+663;?/= =?< 6+ :6+;?/ . 38.?->398 2?86C 56 3Cb=FC6D &6 =2:DD6K A2D DFC =2 E23=6 56 4F:DD@? 56D 4@FE62FI 56D 7@FC496EE6D 56D 4F:==XC6D 56D 4@FG6C4=6D @F 5 2FEC6D @3;6ED >YE2==:BF6D A@FCC2:6?E 492F776C ECXD G:E6 8>3/8 .
N-988/->/< 6+ >+,6/ ./ -?3==98 ACXD 492BF6 FE:=:D2E:@? 5Y4@??64E6K E@F;@FCD =2 E23=6 56 4F:DD@? 2F >@J6? 56 = :?E6CCFAE6FC AC:?4:A2= & 2EE6?56K A2D BF6 =2 E23=6 56 4F:DD@? D6 5Y4@??64E6 2FE@>2E:BF6>6?E 6? C2:D@? 5 F? >2?BF6 56 CY4:A:6?E +?=/= ./= .977+1/= +=/ ./= = $6D 32D6D :CCY8F=:XC6D 56D CY4:A:6?ED A6FG6?E C2J6C =2 E23=6 56 4F:DD@? PG:E6K 56 =2:DD6C 56D CY4:A:6?ED G:56D 52?D =6D K@?6D 56 4F:DD@? 6D 5@>>286D A6FG6?E D6 AC@5F:C6 #N-3:3/8>= -2+?.
#/=:/-> ./ 6 /8@3<988/7/8> E63738+>398 ./ /= +8> 6 /8@3<988/7/8> Y32==6K = 2AA2C6:= 6E ;6E6K = 6>32==286 56 >2?:XC6 >Y?2862?E = 6?G:C@??6>6?E 6E 2AA2C6:= 6DE :56?E:7:Y 4@>>6 YE2?E 4@?7@C>6 T =2 :C64E:G6 DFC =6D *YD:5FD 5 AA2C6:=D P=64EC:BF6D 6E P=64EC@?:BF6D * 6EE6 5:C64E:G6 5Y7:?:E =6 425C6 A@FC C64J4=6C 6E CYFE:=:D6C 56D 2AA2C6:=D FD28YD DFC E@FE =6 E6CC:E@:C6 6FC@AY6? 98=/36= :9?< N-98973=/< .
H $@CD 56 =2 4F:DD@? 56 C28@bED @F 5 2=:>6?ED =:BF:56D 4@>>6 56D D@FA6D 56D D2F46D @F 56D 3@:DD@?D 46FI 4: A6FG6?E 492F776C EC@A C2A:56>6?E D2?D BF6 G@FD G@FD 6? C6?5:6K 4@>AE6 6E 5@?4 5Y3@C56C 5F CY4:A:6?E 6DE A@FCBF@: := 6DE C64@>>2?5Y 56 =6D CY492F776C T 76F 5@FI 6? DY=64E:@??2?E F?6 A@D:E:@? 56 492F776 2AAC@AC:Y6 6E 56 C6>F6C 2G2?E 56 =6D CY492F776C 6E A6?52?E + -?3==98 :+< 38.?->398 @+8>+1/= ./ 6+ -?3==98 :+< 38.
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!<91<+77/< 6+ :6+;?/ ./ -?3==98 6 492A:EC6 >@?EC6 4@>>6?E CY8=6C F?6 K@?6 56 4F:DD@? $6 E23=62F :?5:BF6 =6D A@D:E:@?D 6E =6D E6>AD 56 492F776 A@FC 5:77YC6?ED A=2ED 988/->/< /> .N-988/->/< 6+ >+,6/ .
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%+,6/+? ./ -?3==98 $6 E23=62F DF:G2?E ACYD6?E6 BF6=BF6D 6I6>A=6D $6D E6>AD 56 4F:DD@? 5YA6?56?E 5F EJA6 5F A@:5D 6E 56 =2 BF2=:EY 56D 2=:>6?ED 6DE A@FCBF@: := 6I:DE6 56D G2C:2E:@?D $1 0 0$..*) ' )/ *) 5<0<9.A ;.==.42 12 05<0<9.A /2B??2 :629 P9.A6;2 : # 0!! - / ( $)/ )$- # 0 %
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988/->/< 6+ >+,6/ ./ -?3==98 AAFJ6K DFC =6 DJ>3@=6 GD ;FDBF T 46 BF6 D@:E Y>:D F? D:8?2= D@?@C6 6E BF6 D YE6:8?6 = :?5:42E6FC D $2 DY4FC:EY 6?72?ED A6C>2?6?E6 6DE 5YD24E:GY6 %2:?E6?2?E =2 E23=6 56 4F:DD@? A6FE ZEC6 >:D6 6? 7@?4E:@??6>6?E 98->398 !9A/<,99=> M = 2:56 56 46EE6 7@?4E:@? G@FD A@FCC6K CY492F776C =6 4@?E6?F 5F CY4:A:6?E A=FD C2A:56>6?E BF 6? FE:=:D2?E =2 A@D:E:@? 56 492F776 6EE6 7@?4E:@? A6C>6E 5 2F8>6?E6C =2 AF:DD2?46 >2I:>F> 56 =2 K@?6 56 4F:DD@? @a 6==6 6DE FE:=:DY6 373>+>398= .
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+ :<91<+77+>398 = /00/->?/ ./ 6+ 0+L98 =?3@+8>/ $2 E23=6 56 4F:DD@? 5@:E ZEC6 4@??64EY6 +Y=64E:@??6K =2 K@?6 56 4F:DD@? 6E =2 A@D:E:@? 56 492F776 D@F92:EY6 AAFJ6K 6?DF:E6 56FI 7@:D DFC =6 DJ>3@=6 $6D :?5:42E6FCD 738 6E 111 D 277:496?E (C@8C2>>6K =6 E6>AD T = 2:56 56D DJ>3@=6D 56 T F 3@FE 56 BF6=BF6D D64@?56D =6 E6>AD 4@>>6?46 T D Y4@F=6C "?+8.
98=/36= /> +@/<>3==/7/8>= (@FC AC@8C2>>6C F? E6>AD 56 4F:DD@? :?7YC:6FC T >:?FE6D 2AAFJ6K E@F;@FCD DFC 2G2?E 56 DY=64E:@??6C =2 G2=6FC D@F92:EY6 +Y=64E:@??6K F?6 K@?6 56 4F:DD@? A@FC 4@?DF=E6C =6 E6>AD 56 4F:DD@? C6DE2?E != 6DE A@DD:3=6 56 AC@8C2>>6C F? E6>AD 56 4F:DD@? 2==2?E ;FDBF T >:?FE6D ACXD F?6 4@FAFC6 5F 4@FC2?E Y=64EC:BF6 =2 7@?4E:@? AC@8C2>>2E:@? 5F E6>AD 46DD6 5 ZEC6 24E:GY6 + 738?>/<3/ $2 >:?FE6C:6 A6C>6E 56 AC@8C2>>6C F? E6>AD 2==2?E ;FDBF T >:?FE6D ==6 ?6 5YA6?5 56D 2FEC6D CY8=2
98=/36= /> +@/<>3==/7/8>= +: =6 E6>AD CY8=Y ?6 D 277:496 A2D 2AAFJ6K A=FD:6FCD 7@:D DFC =6 DJ>3@=6 j ;FDBF T 46 BF6 D Y4=2:C6 U DFC = :?5:42E6FC 56 =2 7@?4E:@? AC@8C2>>2E:@? 5F E6>AD (@FC AC@8C2>>6C F? E6>AD 56 4F:DD@? :?7YC:6FC T >:?FE6D 2AAFJ6K E@F;@FCD DFC 2G2?E 56 DY=64E:@??6C =2 G2=6FC D@F92:EY6 ACXD F?6 4@FAFC6 56 4@FC2?E =2 >:?FE6C:6 D6 5YD24E:G6 $6D 56FI 7@?4E:@?D 5Y4@??6I:@? 2FE@>2E:BF6 5 F?6 K@?6 6E >:?FE6C:6 A6FG6?E 7@?4E:@??6C 6? >Z>6 E6>AD !<9>/->398 .
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+.+,6/ ./ -?3==98 (@FC YG:E6C 5 6?5@>>286C =6 425C6 56 =2 E23=6 56 4F:DD@? E6?6K 4@>AE6 56D :?5:42E:@?D DF:G2?E6D H & FE:=:D6K BF6 56 = 62F 492F56 T A6:?6 D2G@??6FD6 H & FE:=:D6K ;2>2:D 56 AC@5F:ED 2:8F:DYD ?: 23C2D:7D H & FE:=:D6K ;2>2:D =6 C24=@:C A@FC G6CC6 #N:+= &@C>2=6>6?E =6D 5Y72FED D@?E 5FD T 56 A6E:ED 5YE2:=D G2?E 56 ACYG6?:C =6 +6CG:46 2ACXD G6?E6 := 72FE AC6?5C6 6? 4@?D:5YC2E:@? =6D 4@?D6:=D 6E 2G6CE:DD6>6?ED DF:G2?ED ) $ / 0- ) $ )/ .0- .B0B; ! .96:2;A.
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8.3-/ 98=3163 / +@@/<>/8D/ .3 =3-?6 A6C =2 D:4FC6KK2 2FD6 56: 52??: %?>/6+ ./66 +7,3/8>/ @?D:8=: A6C := C:DA2C>:@ 6?6C86E:4@ + 9>>?<+ :/< 38.?D398/ .2?E288: 56==2 4@EEFC2 A6C :?5FK:@?6 *64:A:6?E: 2568F2E: !<379 ?>363DD9 ./66 +::+2?5: $6 K@?6 5: 4@EEFC2 +A:2 5: 42=@C6 C6D:5F@ !<91<+77+
8.3-/ $2 DF@?6C:2 !<9>/D398/ .3 :?63D3+ 373>/ +?>97+>3-9 .3 >/7:9 7:9=>+D3983 .
98=3163 / +@@/<>/8D/ .3 =3-?>/8>+7/8>/ 6/ 3=>6?E6 = 2AA2C6449:@ @?D6CG2C6 =6 :DECFK:@?: 5 FD@ 6 >@?E288:@ !? 42D@ 5: 46DD:@?6 56== 2AA2C6449:@ 2 F?2 E6CK2 A6CD@?2 7@C?:C6 2 BF6DE F=E:>2 =2 5@4F>6?E2K:@?6 4@CC:DA@?56?E6 .
+@77@42C6 =6 7:2>>2 A@D:K:@?2?5@ C2A:52>6?E6 F? 4@A6C49:@ @ F? A:2EE@ DF= C64:A:6?E6 :D:?D6C:C6 =2 K@?2 5: 4@EEFC2 ?-38+3 + ,+189 +<3+ $2 E64?:42 56= 328?@ %2C:2 4@?D6?E6 5: 4F@46C6 8=: 2=:>6?E: 2== :?E6C?@ 5: F?2 42DD6CF@=2 2 DF2 G@=E2 :>>6CD2 :? F? D64@?5@ C64:A:6?E6 A:a 8C2?56 4@?E6?6?E6 24BF2 =: 2=:>6?E: C:46G@?@ 4@D\ F? 42=@C6 8C25F2=6 6 4@DE2?E6 52= >@>6?E@ 496 G6?8@?@ 4F4:?2E: 8C2K:6 2== 24BF2 42=52 6 ?@? 5:C6EE2>6?E6 52= 42=@C6 DAC:8:@?2E@ 52==2 K@?2 5: 4@EEFC2 )F2?5@ D: 4F4:?2?@ 2=:
+ D98+ .3 -9>>?<+ =3 <3=-+6.+ 7+ 6 38.3-+D398/ @3=3@+ 898 0?8D398+ (6C:4@=@ 5: FDE:@?: D4@==682C6 =2 K@?2 5: 4@EEFC2 :? 42D@ 5: >2=7F?K:@?2>6?E@ 56==2 DA:2 @?E2EE2C6 := D6CG:K:@ 5: 2DD:DE6?K2 E64?:42 98 -9669-+>3 7/>+663-3 =?66+ :3+=><+ +. 38.
$-966/1+>?<+ @A@ @8?: FD@ D4@==682C6 D6>AC6 := A:2?@ 5: 4@EEFC2 4@? = :?E6CCFEE@C6 AC:?4:A2=6 &@? 2DA6EE2C6 496 := A:2?@ 5: 4@EEFC2 D: D4@==689: 2FE@>2E:42>6?E6 A6C >2?42?K2 5: C64:A:6?E6 +?=/ ./3 .+883 +=/ ./3 3 $6 32D: CFG:56 56: C64:A:6?E: A@DD@?@ 8C277:2C6 := A:2?@ 5: 4@EEFC2 &@? =2D4:2C6 C64:A:6?E: GF@E: DF==2 K@?2 5: 4@EEFC2 (6C:4@=@ 5: 52??: #/-3:3/8>3 -+6.
%?>/6+ ./66 +7,3/8>/ $7+6>37/8>9 ./3 <303?>3 8/6 <3=:/>>9 .
H F@46C6 4@? A@42 24BF2 @D\ 7246?5@ D: C:DA2C>:2 6?6C8:2 6 D: AC6D6CG2?@ =6 G:E2>:?6 6 : >:?6C2=: 56==2 G6C5FC2 H F4:?2?5@ A:2EE: @ 2=:>6?E: =:BF:5: 4@>6 >:?6DEC6 D2=D6 @ 3:3:E6 X A@DD:3:=6 496 BF6DE: 2=:>6?E: D: D42=5:?@ EC@AA@ G6=@46>6?E6 D6?K2 496 49: 4F4:?2 D6 ?6 244@C82 6 7F@C:6D42?@ 52= C64:A:6?E6 +: 4@?D:8=:2 A6CE2?E@ 5: 2AA=:42C6 F? C:D42=52>6?E@ =6886C@ D6=6K:@?2?5@ F? =:G6==@ 5: A@E6?K2 252EE@ 6 >6D4@=2?5@ 8=: 2=:>6?E: AC:>2 6 5FC2?E6 := C:D42=52>6?E@ + 9>>?<+ :/< 38.
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