-()/&0$%-)#1)20/%3.4"#"0&5%.$(%(6-()%)7+&-5’"6)2-$)0&68(6/90(3&)%):;<=) !"#$%&%’()%)*+"(,-./-

Full text

(1)

!"#$%&%'()%)*+"(,-./-

-()/&0$%-)#1)20/%3.4"#"0&5%.$(%(6-()%)7+&-5'"6)2-$) 0&68(6/90(3&)%):;<=)

!"#$"%&'(#""#)'*#+#"'(#%&&%,#,

-.,"%&+,%,/012#3%45%1#"%,/06789:;- (4,$5#$4"#<'=>%?>'@A"5%,

BC4D%,4+>"<'EF"%1+%,4'B&1+"GD H422>"+,ADD#"<'(=;I'JJK;'JL

>

(2)

!"#$%&'$

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

3,*%.4+!"#$%&%'()%)*+"(,-./-)?)-()/&0$%-)#1)20/%3.4"#"0&5%.$(%(6-()%)7+&-5'"6)2-$) 0&68(6/90(3&)%):;<=

+

56(7#**#(%4 @"-$"%3)A-""-B)C-&-")A-%33%(-(

3%($,&+-89+:(4+A!)DEEF

;0('#&'<#(,2+,&'*,*0*,-&4+='G%'.'6%/3#)%(/&%&0&%'(-(

=#&1.%1#(%4+!'%1')H0".%(

!"#$,&#*-(4+IJ"%/&%(#)K3/&"+2

>#??-(*&0$$%(4+A!)EF)>>DE)>L

@A8B%.-(14)DA1%&5M"4"#!'DA1%&5M"4"A+N%5$,%,/)'+"4$%+%>,)"DA1%&#"&>$'0'5M"4"&>$)' 2>2A5M"DA1%&)'&>,1+DA1%&

C#$$#&7#**&,&24 OPQ+#+ 'D#$'1+A$%#,'M"'$#51'4++'A,$#"1G&4'FA"'A+N%5$,%,/#,'1#"'A+'%$4/)'14D+ '

"#54+#"4'$#,'+%55'#++'F%1+>"%1&+'2#"12#&+%?R'(P2>+#1#,'M"'4++'

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

%,+#"?WA#",4'F4"'?%'QS++'Q"4D'DS5'>3F'QG"?M,+,%,/4"'4?'A+N%5$,%,/#,)'14D+'>5%&4' N%5$#"'4?'A+N%5$,%,/#,R'\#+'Q%,,1'#,'1+>"'?%5W4'>3F'4DN%+%>,'4++'F4'#,'D>$#",)'

?#"&5%/F#+14,&,A+#,'>3F'"#5#?4,+ 'A+N%5$,%,/R'\#,,4'4DN%+%>,'Q41+,4"'$>3&'% '

&>,Q5%&+#, ' D#554, ' DA1%&#"&>$ ' >3F ' 5M"4"&>$) ' $M" ' DA1%&#"&>$#, ' QS" ' +4 ' G?#"F4,$#,R ' \#++4 ' 5#$#" ' +%55 ' #++ ' 1+>"+ ' Q>&A1 ' 2S ' DA1%&#",) ' >3F ' D%,$"# ' 2S ' 5M"4"">55#,R ' !5#"+45#+ ' 4? ' 1+A$#,+#",4 ' % ' $#,,4 ' 1+A$%# ' A225#?#" ' #, ' N"%1+ ' % '

?#"&5%/F#+14,&,P+,%,/#,)'>3F'D4W>"%+#+#,'4?'$#'1>D'/S"'#,'12#3%Q%&'%,"%&+,%,/' 2S'DA1%&5M"4"A+N%5$,%,/#,'#Q+#"Q"S/4$#'+R#CR'&5411D#+>$%&R'O4D+5%/4'1+A$#,+#" '

#Q+#"Q"S/4$#'#,'/#,"#DM11%/'N"#$$,%,/'F>1'5M"4",4R'\#,,4'N"#$$,%,/'M"',S/>+' 1>D'[Z8O'"#$4,'2S'JI:;U+45#+'2S2#&4$#)'>3F'M?#,'>D'?S"'1+A$%#'?%14"'2S'?%11' QG"NM++"4$'N"#$$,%,/'1S'M"'$#,'#W'+%55Q"#$11+M554,$#R'

D

(3)

#$%&%'

T%)'!"#$"%&'>3F'*#+#")'1&"#?'?S"#,'K;;L'#,'@UA2214+1'1>D'?%14$#'4++'DA1%&5M"4"A+N%5$,%,/#,'

%,+#'QG"N#"#++'$#'?#"&14DD4'DA1%&5M"4",4'2S'#++'>2+%D45+'1M++R']"A,$#,'+%55'$#,'A2214+1#,'?4"' 4++ ' ?% '1WM5?4 ' A225#?+ ' N"%1+#" '% ' ?S"' #/#, 'A+N%5$,%,/R ' \#,' &M,154, '14++ ' Q>"+Q4"4,$# ' &?4" ',M"' A+N%5$,%,/#,',M"D4$#'1%/'1%++'15A+R'T45#+'4?'MD,#'>3F'1&"%?24"+,#"'?4"'$M"QG"'/4,1&4'#,&#5+R'

=%55'1&%55,4$'Q"S,'@UA2214+1#,'1>D'+4/%+'1%,'A+/S,/12A,&+'%'?#"&14DD4'5M"4"#)'1S'N#1+MD$#'?%'

>11',A'QG"'4++'QG"1G&4'1#'4,$"4'1%$4,'4?'DP,+#+)',MD5%/#,'A+N%5$,%,/#,1'2#"12#&+%?R'BQ+#"'4++' F4'1?M?4+'%?M/'%'1+>"4"+4$#'%$^#"'1>D'1&A55#'24114'1>D'$>&+>"14?F4,$5%,/'1S'N#1+MD$#'?%'>11' +%55'15A+'QG"'4++'N#/"M,14'>11'+%55'(G/1&>54,'QG"'O3#,'>3F'ZA1%&'X(OZY'%']G+#N>"/)'>3F'$M"D#$'

%,+#'%,?>5?#"4'4,$"4'>"/4,%14+%>,#"'"A,+'>D&"%,/'A+N%5$,%,/#,'1S1>D'8!6'#55#"'68H)'M?#,'

>D'$#+'F4$#'?4"%+'DP3&#+'%,+"#114,+'>3F'1M&#"5%/#,'/%?4,$#R'T%'F4"'1WM5?4'A+N%5$4+1'+%55'1+G"1+4'

$#5'2S'(OZ)'>3F'?%'M"'NS$4',GW$4'D#$'DP3&#+R'\M"#D>+'M"'?%'DP3&#+'%,+"#11#"4$#'4?'?4"QG"' A+N%5$,%,/#,'1#"'A+'1>D'$#,'/G"R

!"#$"%& ' F4" ' 12#3%45%1#"4+ ' 1%/ ' %,>D ' DA1%& ' D#$ ' 2#$4/>/%1& ' %,"%&+,%,/R ' _?#, ' *#+#" ' F4"' 12#3%45%1#"4+'1%/'%,>D'DA1%&)'$>3&'D#$'&>,1+,M"5%/'%,"%&+,%,/R

7"N#+#+'F4"'A+QG"+1'+%55'1+G"1+4'$#5'+%5514DD4,1R'\#+'1>D'/W>"+1'#,1&%5+'M"',S/"4'%,+#"?WA#"'14D+' 14DD4,1+M55,%,/4",4'4?'%,+#"?WA#",4'?%5&4'?%'$#54$#'A22'1S'"M++?%1+'1>D'DGW5%/+R'!G"A+>D'$#+' 1S'F4"'?%'NS$4'?4"%+',M"?4"4,$#'A,$#"'4"N#+#+1'/S,/R

M

(4)

())*+,--./$%0*12)3)4

`42%+#5'J

.,5#$,%,/ a

OPQ+# a

=#>"#+%1&'4,&,P+,%,/ a

Z#+>$'>3F'D4+#"%45 :

T45%$%+#+'>3F'"#5%4N%5%+#+ J;

\%12>1%+%>, ' J;

`42%+#5'K

(%1+>"%1&'#C2>1^'G?#"'DA1%&5M"4"U''''''''''''''''''''JJ A+N%5$,%,/#,<+%$%/4"#'Q>"1&,%,/

>3F'1+P"$>&AD#,+

`42%+#5'9

Z4+#"%450O4DD4,1+M55,%,/'4?'%,+#"?WA#" J9

`42%+#5'b

H#1A5+4+ Ka

O4DD4,Q4++,%,/ K:

`42%+#5'a

\%1&A11%>, KL

H#Q#"#,1#"'>3F'"#Q#"#,15%1+4 KI

@%54/>"

.,+#"?WAA,$#"54/ 9;

N

(5)

56730*-"8

()-*')3)4

T%'/W>"$#'?S"#,'K;;:'#,'@UA2214+1'XZA1%&2#$4/>/#"1'A+N%5$,%,/'>3F'P"&#Y'1>D'F4,$54$#'>D'

?4$ ' $S ' P"&#1?#"&14DD4 ' DA1%&5M"4"# ' 4,1S/ ' 4++ ' D4, ' N#FG?#" ' QG" ' 4++ ' &54"4 ' W>NN#+ ' 1>D' DA1%&5M"4"#R'\#,'N#F4,$54$#'M?#,'FA"A?%$4'$#'4,1S/'4++'$#"41'DA1%&5M"4"A+N%5$,%,/'F4$#'/#++'

$#D'$#114'"#$1&42R'`>"+Q4++4+'?4"'"#1A5+4+'4?'$#,'A2214+1#,'4++'DA1%&5M"4"A+N%5$,%,/#,'?4"' NM++"#'A+Q>"D4$'QG"'#,'+WM,1+'%,>D'&A5+A"1&>54,'#55#"'/PD,41%#+1 '#1+#+%1&4'2">/"4D'M,'QG"' /"A,$1&>54,c'S+D%,1+>,#'$S'?S"4'%,Q>"D4,+#"'A+N%5$4$#'1%/R'@"%1+#"'1>D'?%14$#'1%/'%'?S"'1+A$%#'

?4"'N5R4R'4++'%,Q>"D4,+#",4'?%55#'F4'D#"'*"4&+%1&'.,1+"AD#,+U`M,,#$>D'X*H.`UA,$#"?%1,%,/Y)'

>3F'4++'$#,'%,+#'+>/'+%55?4"4'2S'1&>5A,/$>D4"1'DA1%&R'T%'A225#?$#'$#+'1>D'DM"&5%/+'$S'$#+'M"'

$#114'1&>5A,/$>D4"'?S"'A+N%5$,%,/'"%&+4"'1%/'D>+R

T% ' F4" ' ?45+ ' 4++ ' Q>"+1M++4 ' 2S ' ?S" ' +%$%/4"# ' @UA2214+1 ' QG" ' 4++ ' ?% ' ?%55 ' A,$#"1G&4 ' FG/1&>54,1' 2#"12#&+%?'2S'A+N%5$,%,/#,R'T%'?%55'?%14'FA"'A+N%5$,%,/#,'1#"'A+'%$4/'%'15A+#+'4?'?S"'A+N%5$,%,/' XK;J;Y)'%'"#54+%>,'+%55'#,'F%1+>"%1&'&>,+#C+R'T%'4,1#"'4++'$#+'Q%,,1'#++'N#F>?'4?'4++'QG"4,&"4' DA1%&5M"4"A+N%5$,%,/#, ' D#" ' % ' 1&>54,1 ' ?#"&5%/F#+) ' >3F ' F>2241 ' 4++ ' $#,,4 ' 1+A$%# ' 1&4 ' N#5P14'

#?#,+A#554'2">N5#D>D"S$#,R'@#F>?#+'4?'4++'A,$#"1G&4'MD,#+'%'$#,,4'A2214+1'F4"'A22&>DD%+'

$#51'A"'#/#,'#"Q4"#,F#+)'$S'?%'1WM5?4'A225#?+'4++'+#>"%'>3F'2"4&+%&'%,+#'455+%$'/S++'F4,$'%'F4,$)' D#,'>3&1S'4?'#,'?%5W4'4++'/G"4'#,'Q>"+1M++,%,/'2S'+%$%/4"#',MD,$'@UA2214+1R'=%55'#C#D2#5'F4"'

?%'A225#?+'4++'*H.`'X*H4&+%1&'.,1+"AD#,+U`M,,#$>DY'F4"'?4"%+'A,$#"DS5%/R'

.'&>,+"41+'+%55'$#,'+%$%/4"#'A2214+1#,'?%55'?%',A'+4'FG/1&>54,1'2#"12#&+%?R'T%&+%/4'Q"S/>"'M"'4++' A,$#"1G&4'?%5&4'&A,1&42#"'1>D'2"%>"%+#"41'2S'A+N%5$,%,/#,)'FA"'$#++4'+4"'Q>"D)'14D+'1#'?4$' +%$%/4"#'Q>"1&,%,/'1M/#"'%'WMDQG"#51#'D#$'?S"'+%$%/4"#'A2214+1R

O+A$%#,1 ' DS5/"A22 ' QG" ' "422>"+#, ' M" ' 1+A$#,+#" ' 2S ' DA1%&5M"4"A+N%5$,%,/#, ' >3F ' $#,,#1'

&A"15#$,%,/R 9:/0*

\#+'+%$%/4"# '4"N#+#+'?%14$#'2S'4++ 'A+N%5$,%,/#, '?4"'D#" '%,"%&+4$'D>+ '/PD,41%#+1 '#1+#+%1&4' 2">/"4D'45+#",4+%?+'&A5+A"1&>54,R'OPQ+#+'FM"'M"'$#51'4++'A,$#"1G&4'FA"'A+N%5$,%,/#,'1#"'A+'%$4/)' 14D+ ' "#54+#"4 ' $#, ' +%55 ' #++ ' F%1+>"%1&+ ' 2#"12#&+%?R ' TS" ' FP2>+#1 ' M" ' 4++ ' DA1%&5M"4"A+N%5$,%,/#,' Q>"+Q4"4,$#'$#5?%1'M"'&?4"'%'#,'/4DD45 '+"4$%+%>,'1>D'FM"1+4DD4" 'Q"S,'&>,1#"?4+>"%#+%$#,)'

?%5&#+'%'QG"5M,/,%,/#,'2S?#"&4"'A+N%5$,%,/#,1'A+Q>"D,%,/R'

!"S/>"'?%'1+M55#"'>11'M"<'

JRT%5&#, ' /"A,$1P, ' 2S ' DA1%&5M"4"#, ' U ' DA1%&#" ' &>,+"4 ' 2#$4/>/ ' U ' $>D%,#"4" ' 2S' DA1%&5M"4"A+N%5$,%,/#,V

KR'T%5&#,'254+1'F4"'2>2A5M"DA1%&'%'DA1%&5M"4"A+N%5$,%,/#,V

9R'!%,,1'$#+'#,'+4,&#'>D'FA"'D4,'1&4'?#"&5%/F#+14,&,P+4'A+N%5$,%,/#,V

Z#$'?#"&5%/F#+14,&,P+,%,/'D#,4"'?%'#,'&>""#&+'>3F'"#5#?4,+'S+#"/%?,%,/)'QG"#1+M55,%,/'>3F' N#1&"%?,%,/'4?'?4$'$#+'Q"4D+%$4'P"&#+'X%'$#++4'Q455'DA1%&5M"4"#Y'&"M?#"'%'?#"&5%/F#+#,R

;*&%*03.2"6)2):0)3)4

d%DD#"D4,'e%511>,'+4"'%'1%,'D4/%1+#"A2214+1'Q"S,'K;;;'A22'#,'1+A$%#'4?'`G55#"1+"GD'Q"S,' K;;;R'O+A$%#,'N#1+>$'+#5#Q>,%,+#"?WA#"'4?'+%$%/4"#'DA1%&5M"4"1+A$#,+#"'D#$'#C4D#,'Q"S,'ULf' +R>RDR'UIf)'>3F'$#+'?%14$#'1%/'4++'?%114'4?'$#'QR$R'1+A$#,+#",4'A225#?+'4++'&"4?#,'?4"%+'QG"'5S/4'

>3F ' 4++ ' A+N%5$,%,/#,1 ' &?45%+^ ' 1&%Q+4+) ' 14D+ ' 4++ ' A+N%5$,%,/1DS5#, ' ?4"%+ ' >+P$5%/4R ' \#11A+>D' QG"#&>D'A22Q4++,%,/4"'Q"S,'$#'+#5#Q>,%,+#"?WA4$#'4++'A+N%5$,%,/#,'%,,#FS55%+'QG"'DS,/4'>5%&4'

O

(6)

&A"1#"'>3F'MD,#,R'\M"#D>+'?%14$#'$#+'1%/'4++'A+N%5$,%,/#,'?4"%+'QG"4,&"4$'+%55'P"&#15%?#+)'

?%5&#+'A221&4++4$#1)'D#,'4++'A+N%5$,%,/#,1'$#Q%,%+%>,'4?'P"&#15%?#+'1+MD$#'QG/4'G?#"#,1'D#$'

$# ' ?#"&5%/4 ' QG"A+1M++,%,/4",4R ' Xd%DD#"D4, ' e%511>, ' K;;;<J9YR ' \#++4 ' M" ' $#, ' G&M,$4'

!"#$%&'(")*+(,+$"-) ' 1>D ' N5R4R ' d%DD#"D4, ' e%511>, ' 1&"%?#" ' >D ' Xd%DD#"D4, ' e%511>,' K;;;<bKY) ' D#, ' 1>D ' M?#, ' A22DM"&14DD4+1 ' % ' 4,$"4 ' 1+A$%#" ' 2S ' >D"S$#+R ' \#,,4'

?#"&5%/F#+13F>3&'N#">"'$#5?%1'2S'&>,Q5%&+#,'D#554,'./*&$"#$,0'&>,+"4'%1#2#$,03'd%DD#"D4,' e%511>,'?%14"'2S'4++'%,Q>"D4,+#",4'%'F#,,#1'A,$#"1G&,%,/'+P3&+#'4++'$#+'?4"'QG"'1+>"+'Q>&A1'2S' DA1%&#"&A,1&42#"'A,$#"'A+N%5$,%,/#,'%'QG"FS554,$#'+%55'5M"4"&A,1&42#")'>3F'4++'$#++4'$S'F4$#'

#,',#/4+%?'%,?#"&4,'2S'FA"'?M5'$#'F4$#'QG"N#"#++1'QG"'1%++'Q"4D+%$4'P"&#'Xd%DD#"D4,'e%511>,' K;;;<9bYR ' \#++4 ' G?#"#,11+MDD#" ' M?#, ' D#$ ' O+#2F4, ' @54$Fg1 ' 4?F4,$5%,/ ' -ZA1%&5M"4"# ' h ' %' A+N%5$,%,/ ' >3F ' P"&#- ' $M" ' #, ' %,Q>"D4,+ ' 2S ' 1R ' Jbb ' 1M/#" ' 4++ ' 5M"4"A+N%5$4",4 ' 2S' DA1%&5M"4"A+N%5$,%,/#,'14&,4"'%,1%&+#,'4++'$#'Q4&+%1&+'A+N%5$4"'Q"4D+%$4'5M"4"#R'.,Q>"D4,+#,'

#Q+#"5P1+#'#++'2#$4/>/%1&+'+M,&4,$#'1>D'1&4'/#,>D1P"4'2%%'A,$#"?%1,%,/R'X@54$F'K;;K<JbbYR

\#+'F4"'+%$%/4"#'QA,,%+1'#,'F#+'$%1&A11%>,'&"%,/'DA1%&#"'&>,+"4'DA1%&5M"4"A+N%5$,%,/'%,>D' [Z8O'X["/4,%14+%>,1&>DD%++^,'QG"'FG/"#'DA1%&A+N%5$,%,/'%'O?#"%/#Y'"#Q>"D#,R'\#N4++#,'

?4" ' DP3&#+ ' 5%?5%/ ' "#$4, ' 2S ' JI:;U+45#+) ' >3F ' O+#2F4, ' @54$F ' 3%+#"4" ' 2S ' 1R9b ' $S?4"4,$#'

$#24"+#D#,+13F#Q#,'%'#,'"#/#"%,/12">2>1%+%>,)'1>D'A+DP,,4"'%'4++'DA1%&5M"4"#'N#FG?#"'4,$"4'

&>D2#+#,1#"'M,'?4$'DA1%&#"'/G"R'\#,,4'2">2>1%+%>,'M"'Q"S,'JI::0:L)'D#,'14DD4,Q4++,%,/#,' 4?'$#,,4'2">2>1%+%>,'M"'$>3&'FG/1+'4&+A#55

\#+'Q%,,1'1S5#$#1'%,/#+'#,+P$%/+'DS++'2S'$#,'FG/"#'DA1%&A+N%5$,%,/#,1'&?45%+#+R'.'1+>"'A+1+"M3&,%,/' M" ' &?45%+#+#, ' 5%&+P$%/ ' D#$ ' FA" ' ?M5 ' A+N%5$,%,/#, ' QG"DS" ' 4++ ' QG"N#"#$4 ' $# ' 1+A$#"4,$# ' QG" ' $#"41'

&>DD4,$#'P"&#1">55#"'X"#/#"%,/#,'JI::0JI:L'%'@54$F'K;;K<9bY

*S'1R'K;'%'14DD4'4?F4,$5%,/',MD,#"'@54$F'?4$'[Z8OU"#Q>"D#,'Q4&+%1&+'/%3&'A+'2S)'?%5&#+'

?4"'#,'%$^'>D'4++'N"#$$4'DA1%&#,'2S'DA1%&5M"4"A+N%5$,%,/#,'14D+'4++'4,&,P+4'A+N%5$,%,/#,' -+%55'$#,'$S'4&+A#554'A,/$>D1DA1%&#,-X@54$F'K;;K<K;YR'@"M,$1+"GD'>3F'i%&5A,$'1&"%?#"'%' 1%,'1+A$%#'-=?S'DA1%&2#$4/>/%1&4'QM5+-)'4++'$#'Q5#1+4'1+A$#,+#"'F4"'#,'N"#$'DA1%&1D4&R'\#,'

%,,#FS55#"'NS$#'?M1+#"5M,$1&'&>,1+DA1%&'14D+'DA1%&'Q"S,'4Q">4D#"%&4,1&'+"4$%+%>,)'$R?R1R'">3&'

>3F'2>2'>3F'455+'4,,4+'1>D'&>DD#"'A"'N5A#1#,R'@"M,$1+"GD'>3F'i%&5A,$'2S2#&4"'4++'$#"41'

"#1A5+4+ ' +454" ' QG" ' 4++ ' DA1%&5M"4"# ' 4? ' %$4/ ' &4, ' DG+4 ' >3F ' QG"1+S ' N4",1 ' >3F ' A,/$>D4"1' -DA1%&A225#?#51#"-) ' >3F ' 14D+%$%/+ ' A+?#3&54 ' N4",1 ' >3F ' A,/$>D4"1 ' -&A,1&421U ' >3F' A225#?#51#F>"%1>,+#"'%'4,$"4'"%&+,%,/4"-'X@"M,$1+"GD'j'i%&5A,$'JIIa<J:;YR'.'&>,+"41+'+%55'

$#++4 ' ?%14" ' $#+ ' 1%/ ' % ' @>A%Wg1 ' 1+A$%# ' -ZA1%& ' h ' D%++ ' 5%? ' >3F ' &>DD4,$# ' 5#?#N"G$- ' 4++' -DA1%&FG/1&>54,'NP//#"'1%,'#/#,'DA1%&45%1&4'?M"5$'4?1&%5$'Q"S,'1&>5A,/$>D4"1'DA1%&?M"5$-' X@>A%W'JIIL<K;fYR

\#+'M"'?M5&M,+'4++'A+?#3&5%,/'>3F'QG"M,$"%,/'4?'1&>54,1'?#"&14DF#+'M"'5S,/14DR'\#++4'N>"$#'

"%D5%/#,'M?#,'/M554'FG/1&>54,R'!>5&#11>,)'6#,$4F5'H>1#,$4F5)'6M,/1WG'>3F'HG,,#"D4,'+4"'%' N>&#, ' -*#"12#&+%? ' 2S ' 1&>5A+?#3&5%,/- ' A22 ' FA" ' $#+ ' &4, ' +4 ' $#3#,,%#" ' 4++ ' /#,>DQG"4 ' ,P4' 5M">254,#")'>3F'-M?#,'>D'$#,'P++"#'D%5WG,'%'?%114'Q455'M"'D>$#",'&4,'QG"M5$"4"'>3F'%N54,$'M?#,' Q4"U'>3F'D>"QG"M5$"4"'&M,,4'%/#,'1%,'#/#,'A,$#"?%1,%,/'NS$#'+%55'%,,#FS55'>3F'A+Q>"D,%,/',M"'

$#'N#1G&#"'$4/#,1'1&>54-'X!>5&#11>,'DRQ5R'K;;b<JJJYR'\#++4'&4,'F4'DP3&#+'4++'/G"4'D#$'N5R4R' 1&>5&A5+A"R'Z#$'1&>5&A5+A"'D#,4"'?%'$#+'1M++'1>D'4"N#+#+'A+QG"1'2S'#,'1&>54R'\#+'F4,$54"'>D' 14D4"N#+11M++)'4"N#+1&5%D4+'DRDR'@#/"#22#+'>3F'#++'4,+45'>5%&4'1&>5&A5+A"#"'XQP"4'1+P3&#,Y)' N#1&"%?1 ' % ' !>5&#11>, ' #+ ' 45R ' 2S ' 1R ' JbKUJb9R ' !>5&#11>,1 ' N>& ' "%&+4" ' 1%/ ' % ' QG"1+4 ' F4,$ ' D>+' /"A,$1&>5>"'>3F'/PD,41%AD)'D#,'FG/1&>5>"'NG"'%,+#'?4"4'%DDA,4'D>+'14DD4'+#,$#,1#"'

#Q+#"1>D'A225M//#+'D#$'5M"4"#'>3F'#5#?#"'#C%1+#"4"R'OPQ+#+'D#$'?S"'1+A$%#'M"'%,+#'4++'+4'A22'

?%5&#,'1&>5&A5+A"'1>D'"S$#"'2S'(OZ'#55#"']8)'>3F'?%'&4,'F#55#"'%,+#'1?4"4'2S'$#+)'D#,'$#+'M"'

?M"+'4++'2>M,/+#"4'4++'1&>5&A5+A"#,'2S?#"&4"'FA")'%'?%5&#,'+4&+)'14D+'%'?%5&#,'/"4$'QG"M,$"%,/4"'

P

(7)

QS"'Q>+QM1+#'X#55#"'.e=B'QS"'Q>+QM1+#YR'B,5%/+'O&>5?#"&#+'M"'$#+'$#11A+>D'1?S"+'4++'5MD,4'$#+'

?M5&M,$4'>3F'%,?4,$4'QG"',S/>+',P++'>3F'Q"MDD4,$#'X!>5&#11>,'DRQ5R'K;;b<JbKUJbbYR

@>A%W'4,?M,$#"'1%/'4?'1%,'1R&R'">55%$#,+%+#+1+#>"%)'?%5&#+'F4,$54"'>D'4++'DA1%&5M"4"1+A$#,+#"' A,$#" ' A+N%5$,%,/1+%$#, ' 1&4QQ4" ' 1%/ ' >5%&4 ' ">55%$#,+%+#+#"R ' T4$ ' 1+A$#,+#",4 ' QG"?M,+4" ' 1%/ ' 4?' DA1%&5M"4"P"&#+'/G"'4++'?%114'N#+>,4"'$#,'DA1%&45%1&4'$#5#,'4?'P"&#+)'D#$4,'4,$"4'N#+>,4"'

$#,'2#$4/>/%1&4R'\#++4'QS"'QG5W$#"'%'&>D2#+#,1#"'1S1>D'DA1%&45%1&'4551%$%/F#+'X1D450N"#$Y)' DA1%&#"02#$4/>/)'#5#?3#,+"#"4$0%,,#FS5513#,+"#"4$'5M"4"#'>R1R?R'X@>A%W'JIIL<KfaYR'

*S'DA1%&5M"4"A+N%5$,%,/#,'F4"'$#+'S+D%,1+>,#'F%1+>"%1&+'?4"%+'1+>"+'Q>&A1'2S'WA1+'DA1%&#"">55#,)' +%55'1&%55,4$'D>+'5M"4"">55#,R'd%DD#"D4,'e%511>,'FM,?%14"'+%55'@>A%W'XJIILY'$M"'$#+'?%14$#'1%/' 4++'DA1%&5M"4"A+N%5$,%,/#,'A,$#"N5S1+'DA1%&#"">55#,'D#"'M,'5M"4"">55#,R'@54$F'+4"'A22'2"#3%1' 14DD4'2">N5#D4+%&'2S'X@54$F'K;;K<JIbY'$M"'M?#,'F4,'FM,?%14"'+%55'@>A%WR

[D'D4,'1#"'+%55'$%1&A11%>,#",4'&"%,/'[Z8OU"#Q>"D#,'>3F'$#,'+%$%/4"#'Q>"1&,%,/#,'%'N5R4R'

@54$F'>3F'd%DD#"D4,Ue%511>,)'1S'&4,'$#+'455+1S'QG"#&>DD4'#,'&>,Q5%&+'D#554,'1+A$#,+#"1'

">55%$#,+%+#+)'DA1%&5M"4"A+N%5$,%,/#,)'14D+'DA1%&5M"4"P"&#+'%'?#"&5%/F#+#,R

!G"#1+M55,%,/#,'>D'?4$'DA1%&5M"4"P"&#+'Q4&+%1&+'%,,#NM"'&4,'1&%Q+4'>3F'?4"%#"4'%'>5%&4'/"4$#"' 4?'N"%1+4,$#'?#"&5%/F#+1A22Q4++,%,/4"R'\#'Q5#1+4'4?'$#'1>D'4,+41'+%55'DA1%&5M"4"A+N%5$,%,/#,' F4" ' $>3&' %,+# ' DA1%&5M"4"P"&#+ ' 1>D' -G?#">"$,4+ ' D>+%?- ' ,M" ' $#' ?M5W#" ' A+N%5$,%,/) ' A+4, ' 1#"' DA1%&5M"4"A+N%5$,%,/#,'1>D'4,?M,$N4"'+%55'M?#,'4,,4,'?#"&14DF#+R'\#+'Q%,,1'#,'QG"F>22,%,/'

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

?M5$%/+ ' 1&#?+R ' X@54$F ' K;;K<JILYR ' \#++4 ' Q>&A1 ' A,$#" ' A+N%5$,%,/#, ' N#">" ' +">5%/#, ' 2S ' #++' /"A,$4,+4/4,$# ' F>1 ' 5M"4"A+N%5$4",4 ' -4++ ' WA ' D#" ' A+N%5$4$ ' DA1%&#" ' D4, ' N5%") ' $#1+> ' NM++"#' QG"A+1M++,%,/4"'F4"'D4,'4++'N5%'#,'NM++"#'5M"4"#-R'X@54$F'K;;K<JIbYR

<320346"=*4%*77'

4,5/%1#./*&$' U ' M" ' #++ ' 1+>"+ ' N#/"#22'% ' ?%5&#+ ' ?% ' % ' $#+ ' QG5W4,$# ' %,N#/"%2#"'N5A#1) ' 3>A,+"P)'

$4,1N4,$)'F%2'F>2)'2>2)'"#//4#)'">3&)'+#3F,>)'?%14'>3F'4554'1AN/#,"#"'+%55'$#114)'D#,'%,+#'W4kk'

>3F'1l%,/'#Q+#"1>D'$#114'/#,"#"',AD#"4'N#+"4&+41'1>D'&>,1+DA1%&R'*>2A5M"DA1%&'M"'455+1S'#++'

?M5$%/+'N"#++'N#/"#22R

6#20&)&,-' h ' D#$ ' +"4$%+%>, ' D#,4" ' ?% ' % ' $#,,4 ' A2214+1 ' #, ' 1P, ' 1>D ' FM"1+4DD4" ' Q"S,'

&>,1#"?4+>"%#+%$#,) ' 455+1S ' +%$#, ' %,,4, ' [Z8OU"#Q>"D#,R ' \#, ' FG/"# ' DA1%&A+N%5$,%,/#,' 411>3%#"4$#1 ' $S ' D#$ ' DA1%&#"A+N%5$,%,/ ' D#$ ' DS5 ' 4++ ' N#?4"4 ' #, ' Q%,&A5+A" ' 4? ' ?M1+#"5M,$1&'

&>,1+DA1%&'1>D'%,+#'?4"'+%55/M,/5%/'QG"'$#,'N"#$4'D4114,R

>*0&'"&1+"?60*%36-

T%'F4"'4,?M,+'>11'4?'#,'&?45%+4+%?'"#12>,$#,+1+A$%#'$M"'?%'A+/S++'Q"S,'B14%411>,)']%55W4D)' [134"11>, ' j ' iM/,#"A$ ' XK;;: ' &42RJbY ' /M554,$# ' 14D+451%,+#"?WA#" ' QG" ' 4++ ' NP//4 ' A22 ' ?S"+'

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f;R

Q

(8)

.,+#"?WA#",4'F4"'12#54+1'%,'2S'#,'$%&+4Q>,'D#$'D%,%&411#++R'\#+'M"'#,'?M5'QA,/#"4,$#'+#&,%&'

>3F'5WA$&?45%+#+#,'M"'/>$'2S'4554'%,+#"?WA#"R'O4D+5%/4'%,+#"?WA#"'?4"'D#554,'#,'h'+?S'+%DD4"' 5S,/R ' O#C ' %,+#"?WA#" ' /#,>DQG"$#1 ' 2S ' FG/1&>54, ' QG" ' 13#, ' >3F ' DA1%& ' % ' ]G+#N>"/) ' >3F ' #,' /#,>DQG"$#1'2S'*#$4/>/#,'%']G+#N>"/R'7554'/#,>DQG"$#1'$>3&'%'#,'+P1+'D%5WGR'\#+'Q4,,1'

%,/#+'+%$1&"4?'2S'%,+#"?WA#",4'>3F'?%'F4$#'%,Q>"D#"4+'%,Q>"D4,+#",4'4++'$#+'&A,$#'+4'A22'+%55' +?S'+%DD4"R

T%'F4"'?45+'4++'%,+#"?WA4'1+A$#,+#"'"#54+%?+'1#,+'%'A+N%5$,%,/#,'2R/R4R'4++'?%'+">"'$#'F4"'#,'1+G""#'

%,1%&+'%'1%,'A+N%5$,%,/'&>,+"4'2"4&+%&#,'M,'1+A$#,+#"'1>D'2"#3%1'F4"'2SNG"W4+'1%,'A+N%5$,%,/R'

\#11A+>D'F4"'?S"+'A"?45'4?'1+A$#,+%,Q>"D4,+#"'?4"%+'D#$?#+#+'2S'1S'1M++'4++'?%'?45+'#,'1+A$#,+' Q"S,'?4"W#'%,"%&+,%,/'%'-$#,'/4D54'A+N%5$,%,/#,-'UZA1%&6M"4"#`6411'XZ6`6Y)'ZA1%&6M"4"#' 7Q">7D#"%&4,1& ' XZ677Y) ' ZA1%&6M"4"# ' `5411%1` ' XZ6``Y ' D#$ ' 1+4"+ ' FG1+#, ' K;;a ' m ' #,' 1+A$#,+'%'-$#,',P4'A+N%5$,%,/#,-'X1+4"+'K;;fY)'QG"'4++'&A,,4'/G"4'WMDQG"#51#"'%,"%&+,%,/4"'>3F' A+N%5$,%,/4"'#D#554,R''eM"'$#+'/M55#"'5M"4"%,Q>"D4,+#"'F4"'?%'F#5+'#,&#5+'?45+'5M"4"#'1>D'M"0?4"%+'

%,?>5?#"4$#'%'DA1%&5M"4"A+N%5$,%,/#,R'@S$4'5M"4",4'M"'%,+#'5%&4'4&+A#554 '5M,/"#'1>D'5M"4"#'

%,>D ' DA1%&5M"4"A+N%5$,%,/#, ' 1>D ' $# ' ?4" ' ,M" ' QG"Q4++4",4 ' 5M1+# ' 1%, ' DA1%&A+N%5$,%,/R ' \#' Q%/A"#"4"'$>3&'Q>"+Q4"4,$#'%'?4"%#"4,$#'/"4$'%,>D'A+N%5$,%,/#,)'>3F'F4"'DP3&#+'#"Q4"#,F#+'4?' 4++'FS554'&A"1#"'>3F'?4"4'5M"4"#'QG"'DA1%&5M"4"1+A$#,+#"'%'DS,/4'S"R'\M"QG"'F4"'$#'/>$'%,N5%3&)'

#"Q4"#,F#+ ' >3F ' S1%&+#" ' 4,/S#,$# ' A+N%5$,%,/ ' >3F ' DA1%&5M"4"1+A$#,+#"R ' T% ' F4" ' A+Q>"D4+ ' +"#'

%,+#"?WAA,$#"54/'D#$'A+/S,/12A,&+'%'?S"'+%$%/4"#'@UA2214+1'D#$'Q"S/>"'%,QG"'%,+#"?WA#",4R'

\#114'A,$#"54/'F4"'?%'QG"1G&+'/G"4'1S'5%&4'1>D'DGW5%/+)'QG"'4++'2S'1S'1M++'5M++4"#'&A,,4'/G"4' WMDQG"#51#"'D#554,'5#$,%,/U5M"4"#U1+A$#,+#"R

!"S/>",4'F4"'/"A22#"4+1'%'>5%&4'>D"S$#,'1>D'?%'4,1#"'"#5#?4,+4R''\#114'M"'QG"'5#$,%,/<

8@">,-"/$%"A0=3-')3)4*)

B@ " C0=3-')3)4*). " 7-A. " &1+ " ?3)A. " .6?0 " ?A.32A0=3-')3)4*) " 2&)0%6 " 4*)*%*--"

-D%6%7%&/*..3&)

E@"9&136-6"/$%+,--6)'*)".&?"/&%?6%"A0=3-')3)4*)

F@"C0=3-')3)4*)."%*-*G6)."3"/$%+,--6)'*"03--".0:%'&2A?*)0"3"?A.32"H4%A)'I4:?)6.3A?J K@">A.326-3.2"=%*''"&1+"D?)*.2A).267*%

QG"'5M"4"#<

8@">,-"/$%"A0=3-')3)4*)

B@ " C0=3-')3)4*). " 7-A. " &1+ " ?3)A. " .6?0 " ?A.32A0=3-')3)4*) " 2&)0%6 " 4*)*%*--"

-D%6%7%&/*..3&)

E@"9&136-6"/$%+,--6)'*)".&?"/&%?6%"A0=3-')3)4*)

F@"C0=3-')3)4*)."%*-*G6)."3"/$%+,--6)'*"03--".0:%'&2A?*)0"3"?A.32"H4%A)'I4:?)6.3A?J K@">A.326-3.2"=%*''"&1+"D?)*.2A).267*%

QG"'1+A$#,+#"<

8@"#$%GD)0)3)46%"7,"A0=3-')3)4*)

B@ " C0=3-')3)4*). " 7-A. " &1+ " ?3)A. " .6?0 " ?A.32A0=3-')3)4*) " 2&)0%6 " 4*)*%*--"

-D%6%7%&/*..3&)

E@"9&136-6"/$%+,--6)'*)".&?"/&%?6%"A0=3-')3)4*)

F@"C0=3-')3)4*)."%*-*G6)."3"/$%+,--6)'*"03--".0:%'&2A?*)0"3"?A.32"H4%A)'I4:?)6.3A?J K@">A.326-3.2"=%*''"&1+"D?)*.2A).267*%

.,+#"?WA#",4'F4"'?%'N#4"N#+4+'?4"'QG"'1%/'/#,>D'4++'5P11,4'%/#,>D'#,'%,Q>"D4,+'%'+4/#+)'?4"W#' Q"S/4 ' QG" ' 1%/ ' >3F ' 1&"%?4 ' #, ' 14DD4,Q4++,%,/ ' 2S ' WA1+ ' $#, ' Q"S/4,) ' QG" ' 4++ ' $M"#Q+#" ' /G"4 ' #,' 14DD4,Q4++,%,/'4?'?4"W#'>D"S$#)'+R#CR '>A.326-3.2"=%*''"&1+"D?)*.2A).267*%@ "\#++4'F4"' 455+1S'/W>"+1'2S'4554'1WA'%,Q>"D4,+#"R

L

(9)

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`"%/)'>3F'?%11+'1&A55#'?%'&A,,4'&4554'$#D'QG"'7'X7$4DY)'@'X@#"+%5Y)' E'XE455#Y)'\'X\4?%$Y'>R1R?R'%1+M55#+)'D#,'?%'1#"'#,'?%,1+'%'4++'4,?M,$4'>11'4?'"#$4,'#+4N5#"4$#)'

>D'M,'2SF%++4$#)',4D,R'\#11A+>D'4,1#"'?%'F#5+'1>,%&4'4++'$#+'M"'">5%/4"#'4++'5M14'>D'n>$4'>3F' HK\K'M,'>D'7$4D'>3F'E455#R'(%#"4"&%,'M"'1>D'QG5W#"<

6#$,%,/'U'n>$4 6M"4"#'U'HK\K)'E9*[

O+A$#,+#"'U'6#%4)'o4"'W4")'(4,'O>5>)'6A&#

\#,,4'F%#"4"&%'N#+P$#"'%,+#'4++'?%'?M"$#"4"',S/>,1'1?4"'FG/"#'M,',S/>,'4,,4,1)'A+4,'?%14"'2S'

?%5&#, ' G?#"N5%3& ' 4? ' A+N%5$,%,/#,) ' >3F ' +%55 ' ?%11 ' $#5 ' M?#, ' ?%5&#+ ' 4,1?4" ' 1>D ' Q%,,1 ' N54,$'

%,Q>"D4,+#",4R 6#$,%,/'U'L&'6

n>$4'M"'A+N%5$4$'2#$4/>/R'7"N#+4+'Ka'S"'%'>5%&4'1&>5>"'1>D'DA1%&5M"4"#R'o>NN4+'QP"4'S"'2S' (OZ'D#$'5M"4"2">/"4DD#+R

6M"4"#'U'MENO

7"N#+4"'$#51'1>D'&A"15#$4"#)'$#51'1>D'5M"4"#R'Z41+#"'1>5%1+'2#$4/>/R'7"N#+4+'1>D'&54115M"4"#'

>3F'%,>D'&A5+A"1&>54R'7"N#+4+'2S'(OZ'%'G?#"'K;'S"R'7"N#+4"'D#$'&5411%1&'%,"%&+,%,/'>3F'1>D'

%,1+"AD#,+5M"4"#R'(4"'W>NN4+'D#$'D#+>$%&'%,>D'DA1%&5M"4"2">/"4DD#+R 6M"4"#'U'PBQB

6M"4"A+N%5$4$'%,>D'DA1%&R'=#>"%2#$4/>/R'o>NN4+'2S'(OZ'%'G?#"'K;'S"R O+A$#,+'h'R*36

`5411%1&'Q%>5)'Z5&&)'5M1#"'1%,'I<#'+#"D%,'4?'J;'2R/R4R'#C+"4'12#3%45%1#"%,/)'254,#"4"'+4'#C4D#,'

?S"#, ' K;J;R ' O2#54$# ' N5>3&Q5GW+ ' % ' &A5+A"1&>54, ' ?%$ ' L) ' Q%>5 ' ?%$ ' I) ' DA1%&/PD,41%AD)' Q>5&FG/1&>54)',A'(OZR'(4$#'&A,,4+'&>DD4'%,'2S'(OZ'$%"#&+'#Q+#"'/PD,41%#+R

O+A$#,+'U'S6%"S6%

o4"'W4"'5M1#"'1%,':<#'+#"D%,'2S'DA1%&5M"4"A+N%5$,%,/#,R'o4"'W4"'1+4"+4$#'K;;a)'D#,'F4"'+4/%+'#++' 14NN4+1S"R'o4"'W4"'5M1#"'WA1+',A'#,'12#3%45%1#"%,/'D#$'&>,1+,M"5%/'%,"%&+,%,/'2S'(OZR'o4"'W4"'M"' +%55'#,'NG"W4,'1WM5?5M"$'2S'+"AD2#+)'D#,'/%3&'1#$#"D#"4'2S'&A5+A"1&>54R'6%+#'1#,4"#'N5#?'o4"'W4"'

%,+"#11#"4$'4?'2%4,>)'D#,'+>/'2%4,>5#&+%>,#"'QG"1+'2S'Q>5&FG/1&>54R'*%4,>'M"',AQG"+%$#,'o4"' W4"p1'FA?A$%,1+"AD#,+R

O+A$#,+'h'T6)"9&-&

(4,'O>5>'5M1#"'+"#$W#'S"#+'4?'QP"4'>3F'#++'F45?+'2S'%,"%&+,%,/#,'Z6`&)'455+1S'DA1%&5M"4"#'D#$'

%,"%&+,%,/'&5411%1&+R'(4,'O>5>'F4"'1S,/'1>D'FA?A$%,1+"AD#,+)'>3F'5M1#"'WA1+',A'&A"1#,'6BT' J;;'XB1+#+%1&+'?#"&14DF#+YR'(4,'O>5>'F4"'#/#,+5%/#,'455+%$'1WA,/%+)'#Q+#"1>D'(4,1'D4DD4' 1P1154$#'D#$'DA1%&R'(4,'O>5>'N#"M++4"'4++'D4,'QG5W$#'D#$'%'1+"GDD#,'4?'D4DD4)'>3F'4++'$#+'

%,+#'?4"'#++'D#$?#+#+'?45R'\#+'N4"4'N5#?'1SR'!G"A+>D'1&>5,%,/#,'F#DD4'1S'/%3&'(4,'O>5>'%' DA1%&&5411'%'/"A,$1&>54,)'QG5W+'4?'#1+#+%1&+'/PD,41%AD'>3F'Q>5&FG/1&>54'%,,4,'(OZR'\#+' 1>D'F4"'N#+P++'D#1+'QG"'(4,'O>5>'QG"'4++'&>DD4'%,'2S'(OZ'?4"'Q>5&FG/1&>54R'\#+'?4"'$M"'

F

(10)

D4,'5M"$#'1%/'+#>"%)'>3F'$M"'(4,'O>5>'5M"$#'1%/'1WA,/4'&5411%1&+R O+A$#,+'h'RA2*

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

=WG",)'Q>5&FG/1&>54'%'O&A"A2'>3F'1#$4,'DA1%&5M"4"A+N%5$,%,/#,'2S'(OZR'6A&#',MD,#"'+%$#,' 2S'Q>5&FG/1&>54'1>D'+%$#,'$S'F4,'Q%3&'"#$1&42#,'QG"'4++'&>DD4'%,'2S'(OZR

<6-3'30*0

\#+'Q%,,1'455+%$'#,'"%1&'QG"'Q#5+>5&,%,/)'M?#,'>D'D4,'/G"'1%++'NM1+4'QG"'4++'?4"4'>NW#&+%?R'\#51'

&4, ' %,Q>"D4,+#",4 ' Q#5+>5&4 ' Q"S/4,) ' >3F ' $#51 ' &4, ' ?% ' Q#5+>5&4 ' %,Q>"D4,+#",41 ' 1?4"R 'XO+A&q+' K;;a<JKfYR'B14%411>,)']%55W4D)'[134"11>,)'iM/,#"A$)''N#5P1#"'4++'$#'4N1>5A+4'?4"%4N5#",4'1S' 1>D'&G,)'S5$#"'>3F'A+N%5$,%,/'&4,'?4"4'#++'F%,$#"'%'?45%$%+#+#,XK;;:<afYR'T%'+P3&#"'$>3&'4++'?%' F4" ' &"%,//S++ ' $#++4 ' /#,>D ' 4++ ' ?% ' F4Q+ ' >5%&4 ' S5$"4") ' &G, ' 14D+ ' A+N%5$,%,/1,%?S#" ' 2S'

%,Q>"D4,+#",4R'\#'"#1A5+4+'?%'F4"'QS++'Q"4D'/#"'#++'N"4'A,$#"54/'QG"'4++'N#1?4"4'?S"+'1PQ+#R'\#+' M"'?M"+'4++'2SD%,,4'>D'4++'$#,,4'1+A$%#'M"'/W>"$'?%$'#,'12#3%Q%&'+%$2A,&+)'?%5&#+'N#+P$#"'4++' A+N%5$,%,/#,'1>D'?%'F4"'/"4,1&4+'D#$'455'1M&#"F#+'&>DD#"'4++'QG"M,$"41'>3F'?%$4"#A+?#3&54+1R'

\>3&'&4,'15A+14+1#"'>3F'"#1A5+4+'F4'N#+P$#51#'M?#,'%'Q"4D+%$#,R P*-36=3-30*0

.,+#"?WA#",4 ' F4" ' /#,>DQG"+1 ' % ' 4?1&%5$F#+ ' % ' 1S ' +P1+ ' D%5WG ' 1>D ' DGW5%/+ ' QG" ' 4++ ' A,$?%&4' N4&/"A,$15WA$R'\S'5WA$&?45%+#+#,'2S'$%&+4Q>,#,'M"'/>$)'&4,'%,+#'"#5%4N%5%+#+#,'2S'%,12#5,%,/#,'

%Q"S/41M++41R'\#++4'%'#,5%/F#+'D#$'B14%411>,'#+'45R'1>D'1M/#"'4++'DM+%,1+"AD#,+#,'DS1+#'?4"4' +%55QG"5%+5%/4 ' >3F ' 4,?M,$41 ' D#$ ' ,>//"4,,F#+ ' XB14%411>,) ' ]%55W4D) ' [134"11>,) ' iM/,#"A$' K;;:<:;YR'T%'F4"'$#11A+>D'%,Q>"D#"4+'%,Q>"D4,+#",4'>D'4++'$#'QS"'?4"4'4,>,PD4)'QG"'4++'?%'2S' 1S'1M++'1&4'QS'1S'14,,%,/1#,5%/4'1?4"'1>D'DGW5%/+R'T%'%,1#"'4++'$#+'Q%,,1'"%1&'QG"'4++'1?4"#,'M,$S' QG5W#"'#,'D455)'#55#"'4++'1?4"#,'M"'-?4$'$#'N>"$#'?4"4-'QG"'4++'FS554'1&#,#+'A22#'1S'4++'1M/4)'

#Q+#"1>D'$#+'%,+#'M"'5S,/+'+%55',M1+4'4"N#+1"AD'2S'(OZR'T%'DS1+#'M,$S'A+/S'Q"S,'4++'%,/#,'4?'

%,Q>"D4,+#",4'D#$?#+#+'/#++'Q#54&+%/4'1?4")'A+4,'4++'$#'1?4"4+'1S'14,,%,/1#,5%/+'$#'F4"'&A,,4+' QG"DSR

]#,#"45%1#"N4"F#+'M"'1?S"+'4++'DM+4'%'#,'5%+#,'1+A$%#'1>D'$#,,4R'B14%411>,)']%55W4D)'[134"11>,)' iM/,#"A$'N#1&"%?#"'1?S"%/F#+#,'4++'/#,#"45%1#"4'+P3&4,$#+'F>1'#++'QS+45'"#2"#1#,+4,+#"'4?'#,' 1+>"'2>2A54+%>,'XB14%411>,)']%55W4D)'[134"11>,)'iM/,#"A$'K;;:<JLIYR

Q3.7&.303&)

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

#,$41+'A"'2#$4/>/%1&'1P,?%,&#5'?%'?45+'4++'14DD4,1+M554'%,+#"?WA#",4'%'14DD4'>"$,%,/'1>D'

?S"4'%,Q>"D4,+#"'2"#1#,+#"4+1'+%$%/4"#R'T4"W#'%,+#"?WA'M"'A22$#54$'%'Q#D'XaY'>5%&4'>D"S$#,'1>D'

?% ' Q4,, ' "#5#?4,+4R ' \#114 ' >D"S$#, ' M" ' 1S ' 1,4"5%&4 ' 1>D ' DGW5%/+ ' QG" ' 4++ ' 5M++4"# ' &A,,4 ' /G"4' WMDQG"#51#"'D#554,'$#'1?4"'?%'Q%3&R'T%114'1DS'1&%55,4$#"'M"'$>3&'>A,$?%&5%/4R'=R#CR'M"'$#+'

>E

(11)

QG"1+4'>D"S$#+'QG"'5#$,%,/'>3F'5M"4"#'-ZS5'QG"'A+N%5$,%,/#,-)'D#,'QG"'1+A$#,+%,Q>"D4,+#"'

&4554"'?%'$#+'QG"1+4'>D"S$#+'-!G"?M,+,%,/4"'2S'A+N%5$,%,/#,-R

`42%+#5'b'N#F4,$54"'$#'"#1A5+4+'?%'F4"'QS++'Q"4D'/#,>D'4++'WMDQG"4'1?4"'Q"S,'?S"4'%,Q>"D4,+#"' 14D+'4++'1#'>D'$#+'Q%,,1'1+G$'QG"'?S"4'"#1A5+4+'%'$#,'+%$%/4"#'Q>"1&,%,/#,R'.'"#1A5+4+$#5#,'F4"'?%' 1+M55+'A22'?S"4'Q"S/#1+M55,%,/4"'#,'%'+4/#+'>3F'QG"1G&+'N#1?4"4'$#D'%'+A"'>3F'>"$,%,/R'T%'F4"' 15A+5%/#,'/W>"+'#,'14DD4,Q4++,%,/'4?'"#1A5+4+#+'&,A+#+'+%55'?S"'FP2>+#1R

O%1+4'$#5#,)'&42%+#5'a)'M"'?S"'15A+5%/4'$%1&A11%>,'&"%,/'$#'"#1A5+4+'?%'F4"'QS++'Q"4DR'(M"'+4"'?%' N5R4R'A22'DGW5%/4'4,5#$,%,/4"'+%55'?4"QG"'?S"4'%,Q>"D4,+#"'F4"'1?4"4+'1>D'$#'F4"'/W>"+R'_?#,'

#/,4'QA,$#"%,/4"'&"%,/'FA"'DA1%&5M"4"A+N%5$,%,/#,'N>"$#'QG"M,$"41'+4"'?%'A22'FM"R

56730*-"B

T3.0&%3.2"*U7&.V"$G*%"?A.32-D%6%A0=3-')3)4W"03'346%*"/&%.2)3)4"&1+".0:%'&2A?*)0

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f<9aY'*R/R4R'"#/#"%,/#,1',P4'&A5+A"2>5%+%&'JI:b)'1>D'%,,#N4"'4++'-DA1%&#,1'1>3%454' QA,&+%>,'QS"'1+>"'N#+P$#51#-'X\4F51+#$+'K;;:<JLKY'1S'Q%3&'[Z8O',P4'$%"#&+%?)'>3F'/W>"$#'$S' N#$GD,%,/#,'4++'DA1%&A+N%5$,%,/#,'DS1+#'?4"4'QG"4,&"4$'+%55'N#F>?#+'A+#'%'14DFM55#+R'B++'4?' [Z8O'A22$"4/'?4"'4++'-*"#3%1#"4'>3F'F4,$5M//4'14D+5%/4'FG/"#'A+N%5$,%,/1'Q"S/>"'%'DA1%&' 1>D ' #++ ' Q"4D+%$4 ' 1?#,1&+ ' DA1%&5%? ' &A,$# ' +M,&41 ' F4 ' N#F>? ' 4?- ' X@54$F ' K;;K<9;YR ' [Z8O'

&>,1+4+#"4$# ' 4++ ' $#, ' +%$%/4"# ' DA1%&5M"4"A+N%5$,%,/#, ' %,+# ' ?4" ' 4,24114$ ' +%55 ' -+%$#,1 ' &"4?-' X@54$F ' K;;K<9KYR ' [Z8O ' $#54$# ' %, ' DA1%&5M"4"A+N%5$,%,/#, ' % ' QP"4 ' >5%&4 ' %,"%&+,%,/4"<'

=?SMD,#15M"4"# ' % ' DA1%& ' >3F ' 4,,4+ ' MD,#) ' #++MD,#1 ' 5M"4"# ' % ' DA1%& ' QG" ' /"A,$1&>54 ' >3F' /PD,41%AD'X]]Y)'"P+D%&0#,1#DN5#'5M"4"#XHBY)'>3F'%,1+"AD#,+450#,14DN5#5M"4"#'X.BYR']]'>3F' +?S'MD,#1%,"%&+,%,/'F4$#'$#,'N"#$41+#'N#FG"%/F#+#,'QG"'4++'4,1+M5541R'X@54$F'K;;K<9;YR'[Z8O' QG"1G&+#'Q"4D+%$11M&"4'A+N%5$,%,/#,'/#,>D'4++'/#'QG"154/'2S'FA"'A+N%5$,%,/#,'1&A55#'A+Q>"D41R' ]#,>D'4++'/G"4'DA1%&5M"4"A+N%5$,%,/#, 'P"&#1%,"%&+4$'1&A55#'$#,'F#54'+%$#,'&A,,4'QG",P41'

#Q+#"'N#F>?#,'1>D'Q4,,1R'=R#CR'1S'QG"#12"S&4$#'D4,'#,'A+N%5$,%,/'1>D'N5R4R'?4"?4$#'2"4&+%&'>' +#>"%)'14D+'5M"4"#'2S'DA1%&FG/1&>5>",4'1>D'Q>"+Q4"4,$#'F4$#'&>,+4&+'D#$'4"N#+1D%5WG#",4'%' -?#"&5%/F#+#,-R' 'X6G,,'JI:f<9fYR' '\#11A+>D'2S2#&4$#'D4,'4++'$#+'Q%,,1'#,'Q4"4'%'4++'?%114' DA1%&Q>"D#"'>3F'P"&#1&4+#/>"%#"'411>3%#"41'D#$'#,'FG/"#'&?45%+^)'+R#CR'1>5%1+">55#,)'?%5&#+'%' 1%, ' +A" ' /G" ' 4++ ' 2#$4/>/">55#, ' QS" ' #, ' 5M/"# ' 1+4+A1R ' `,A+#+ ' +%55 ' ?#"&5%/F#+#, ' >3F ' Q"4D+%$4' P"&#1">55#"'4,1S/'[Z8O'4++'$#,,4'&?45%+^+1A22Q4++,%,/'?4"'D%115P3&4$'X@54$F'K;;K<9KU99YR' Z4,'?%55#'F4'#++'N"#$4"#'2#"12#&+%?R'[Z8O':b'5MD,4$#'#++'N#+M,&4,$#'&4554+'-ZA1%&#,'U' ZM,,%1&4,'U'14DFM55#+-'1>D'FM"'M"'3%+#"4+'A"'\4F51+#$+

.'FG/"#'/"4$'M,'F%++%551'NG"'$#,'FG/"#'DA1%&A+N%5$,%,/#,'1S?M5'2"4&+%1&UDA1%&45%1&+'1>D'+#>"#+%1&+' N#$"%?41'D#$'A+/S,/12A,&+'%'DA1%&5%?#+1'+>+454'1%+A4+%>,R'8+N%5$,%,/#,1'A22/%Q+'NG"'?%$/41'+%55'4++'

>DQ4++4 ' A+N%5$,%,/1N#F>?#, ' %,>D ' DA1%&5%?#+ ' 1>D ' F#5F#+R ' \#, ' FG/4 ' 12#3%45%1#"%,/1/"4$#, ' %' A+N%5$,%,/#, 'NG"'&A,,4'D%,1&4R'H##554'DGW5%/F#+#" 'NG"'Q%,,41 '%,>D'>5%&4'154/1 'A+N%5$,%,/'4++' N#$"%?4'1+A$%#"'%'1S$4,4'DA1%&45%1&4'/#,"#"'>3F'A++"P3&1Q>"D#"'1>D',A'M"'A,$#""#2"#1#,+#"4$#'%'

?#"&14DF#+#,)'N5R4R'%D2">?%1#"4$'>3F'/#FG"1DM11%/+'QG"D#$54$'DA1%&)'?%114'&4DD4"DA1%&45%1&4' Q>"D#"'14D+'#5#&+">,%1&'DA1%&'>3F'4,$"4'#C2#"%D#,+#554'DA1%&Q>"D#"R'B,'1,M?'%,"%&+,%,/'D>+' 1>5%1+%1&4'QM"$%/F#+#"'>3F'4++%+P$#"'NG"'>3&1S'A,$?%&41'>3F'D>D#,+'1>D'1PQ+4"'+%55'4++'A+?#3&54'

>5%&4'1%$>"'4?'$#'1+A$#"4,$#1'1&424,$#'QG"DS/4'QS'G&4+'A+"PDD#'%'4554'154/1'A+N%5$,%,/1Q>"D#"' X\4F51+#$+'K;;:<JLJY

>>

(12)

.'A+N%5$,%,/1254,#"'1>D'QG5W#"'#Q+#"'[Z8O'1#"'D4,'?%5&#,'1+>"'2S?#"&4,'[Z8O'F4$#'QG"' DA1%&5M"4"A+N%5$,%,/#,R'8+N%5$,%,/1254,#,'X8*YJILJ'QG"'DA1%&5%,W#,'XZ6Y'%']G+#N>"/<'

.,>D ' DA1%&5M"4"5%,W#, ' 1&455 '/#1 ' #,' /"A,$5M//4,$# ' DA1%&45%1&'>3F '2#$4/>/%1& 'A+N%5$,%,/' 1>D' QG"N#"#$#51#'QG"'P"&#1?#"&14DF#+'2S'>5%&4'4"N#+1QM5+ '%,>D'A,$#"?%1,%,/1>D"S$#+< '$#+'455DM,,4' 1&>5?M1#,$#+) ' $#, ' Q"%?%55%/4 ' DA1%&A,$#"?%1,%,/#, ' >3F ' Q>5&N%5$,%,/#,) ' QG"1&>5#U ' >3F' Q"%+%$1?#"&14DF#+#,'14D+'G?"%/4'QA,&+%>,#"'4?'5%&4"+4$'&4"4&+M"'%,>D'DA1%&5%?#+'%'O?#"%/#'#55#"'2S'

$#+'%,+#",4+%>,#554'QM5+#+R'8+N%5$,%,/#,1'1PQ+#'1&455'?4"4'4++'/#'$#'1+A$#"4,$#'1S$4,4'&A,1&42#")' QM"$%/F#+#"'>3F'4++%+P$#"'XZ6'8*)'JILJ<K'%'d%DD#"D4,'e%511>,'K;;;<9Y

8+N%5$,%,/1254,'QG"'DA1%&5M"4"2">/"4DD#+'XZ*Y'JIIK<

8+N%5$,%,/#,1'DS5'M"'4++'/#'1+A$#,+#,

U'#,'/"A,$5M//4,$#'DA1%&45%1&'1&>5,%,/'>3F'455DM,N%5$,%,/

U'#,'12#3%45%1#"4$ 'DA1%&45%1&'A+N%5$,%,/'1>D 'QG"N#"#$#51# 'QG"'P"&#1?#"&14DF#+ '%,>D'QG"1&>54)' /"A,$U'>3F'/PD,41%#1&>54'#55#"'&>DDA,45'DA1%&1&>54'>3F'4,,4,'Q"%?%55%/'?#"&14DF#+

U'#,'DGW5%/F#+'4++'QG"$WA24'1%/'%,>D'?45Q"%4'>D"S$#,'QG"'4++'2S'1S'1M++'1+M"&4'$#,'#/,4'DA1%&45%1&4' 2">Q%5#,'>3F'%$#,+%+#+#,

U'#,'2#$4/>/%1&)'$%$4&+%1&'>3F'D#+>$%1&'A+N%5$,%,/'14D+'#"Q4"#,F#+#"'4?'>3F'QM"$%/F#+#"'%

' U'/"A22A,$#"?%1,%,/'%'QG"1&>54'>3F'2S'>5%&4'1+4$%#"'%'/"A,$1&>54'>3F'/PD,41%#1&>54 45+#",4+%?+

U ' A,$#"?%1,%,/) ' %,$%?%$A#55 ' >3F ' % ' /"A22) ' 2S ' %,1+"AD#,+ ' >3F ' #,1#DN5# ' % ' &>DDA,45' DA1%&1&>54'>3F'4,,4,'Q"%?%55%/'?#"&14DF#+'X8*'Z*)'JIIK'%'d%DD#"D4,'e%511>,'K;;;<9Y

`A"1254,#&>DD#,+4"#"'&"%,/'$4/#,1'DA1%&5M"4"A+N%5$,%,/'%']G+#N>"/<

()%320)3)46%)6."$G*%4%376)'*".:/0*

8+N%5$,%,/#,'1&455'/#'#,'&>,1+,M"5%/0?#+#,1&425%/'/"A,$)'QG"N#"#$4'1+A$#,+#,'QG"'P"&#1A+G?,%,/'

>3F'DA1%&2#$4/>/%1&'Q>"1&,%,/'>3F'/#'&A,1&42#"'>3F'QM"$%/F#+#"'QG"'$#'>5%&4'14DFM551A22$"4/#,R' .,"%&+,%,/4",4'1&455'F4'#++'+P$5%/+'2">Q#11%>,12#"12#&+%?'D>+'DA1%&A,$#"?%1,%,/'%'/"A,$1&>54'>3F' /PD,41%#1&>54,1'#1+#+%1&4'2">/"4DR'OPQ+#+'M"'1S5#$#1'4++'$#,'1+A$#"4,$#'1&455'A+?#3&54'#,'+P$5%/' P"&#1%$#,+%+#+'1>D'5M"4"#'%'?#"&14DF#+'D#$'N4",'>3F'A,/$>D4"'>3F'%,FMD+4'/"A,$'>3F'Q>"1&,%,/'

&,A+#, ' +%55 ' >D"S$#+R ' \#, ' 1+A$#"4,$# ' 1&455 ' M?#, ' +%55M/,4 ' 1%/ ' P"&#1N#"#$1&42 ' QG" ' 4++ ' A+?#3&54'

?#"&14DF#+#"'D#$'N4",'>3F'A,/4'%'"%&+,%/'D>+'5M">254,#,1'%,+#,+%>,#"

T%$4"#<

_D,#1%,,#FS55#+'Q>&A1#"4"'N4",'>3F'A,/$>D4"1'#/,4'DA1%&45%1&4'?#"&5%/F#+#"R'Z4+#"%45#+'FMD+41'

$#51'Q"S,'$#"41 '#/#,'&A5+A"'N5R4R'/#,>D '%,+#",#+'D#,'M?#,'Q"S,'Q>5&5%/4'>3F'&>,1+DA1%&45%1&4' +"4$%+%>,#"'Q"S,'>5%&4'5M,$#"'>3F'?M"5$1$#54"R'.,,#FS55#+'Q"S,'4&4$#D%1&4'&A,1&421>D"S$#,'1>D' DA1%&?#+#,1&42'>3F'DA1%&2#$4/>/%&'D#$'"#5#?4,1'QG"'$#'MD,#1$%$4&+%1&4'>D"S$#,4'1&455'M?#,'

%,/SR

Z4,'&4,'1#'4++'%$^#",4'>3F'QG"154/#,'[Z8O'54$#'Q"4D'F4"'5#?+'&?4"'1#$4,'JI:;U+45#+'>3F' Q>"+Q4"4,$#'Q%,,1'&?4"'%'$4/#,1 'A+N%5$,%,/)'M?#,'>D'A+N%5$,%,/1254,#" '>3F'&A"1254,#"'F4"'

?%$4"#A+?#3&54+1R'T%'&4,'1#'1+>"4'5%&F#+#"'D#$'$#,'A+N%5$,%,/'1>D'?S"4'%,Q>"D4,+#"'>3F'?%' 1WM5?4 ' /S++R ' .,"%&+,%,/4",4 ' Q"S, ' 15A+#+ ' 4? ' JI:;U+45#+0NG"W4, ' 4? ' JIL;U+45#+ ' 1>D ' &4554$#1' ]]0.B0HB'5#?#"'Q>"+Q4"4,$#'&?4"'D#,',4D,#,'F4"'QG"M,$"4+1'+%55'Z6'D#$'>5%&4'%,"%&+,%,/4"R' .,"%&+,%,/4",4 ' M" ' 7Q"> ' #55#" ' `5411%1&+ ' ?%5&#+ ' 1PQ+4" ' +%55 ' 4"N#+# ' 1>D ' %,1+"AD#,+ ' 2#$4/>/' XD>+1?4"4,$#'/4D54'.BY'D#$4,'Z6'XA+4,',S/>,'12#3%Q%&'%,"%&+,%,/Y'1PQ+4"'+%55'4"N#+#'D#"'1>D'

&54115M"4"#'XD>+1?4"4,$# '/4D54 ']]YR'7Q">'M"'#,'G?#"/"%24,$# 'N#,MD,%,/ '2S'/#,"#"'1>D' FM"1+4DD4"'Q"S,'$#'4Q"%&4,1&4'154?4",4R'.'$#,,4'/#,"#'%,/S"'N54,$'4,,4+)'">3&)'2>2)'W4kk'>3F' N5A#1R'.,>D'DA1%&FG/1&>5#?M"5$#,'%,,#NM"'-4Q">-'$#+14DD4'1>D'%D2">?%14+%>,1DA1%&R'.'$#,'

&5411%1&4'%,"%&+,%,/#,'1S'4"N#+4"'D4,'D#$'?M1+#"5M,$1&'&>,1+DA1%&R']"A,$N#FG"%/F#+#,'M"'

$#,'14DD4'>N#">#,$#'4?'%,"%&+,%,/R'755+1S'4"N#+#'%,>D'/"A,$0/PD,41%#+'14D+'$#,'Q"%?%5%/4' DA1%&A,$#"?%1,%,/#,R'

>D

(13)

56730*-"E

>60*%36-I96??6).0D--)3)4"6G"3)0*%GXA*%

!"#$%$&'(')*#+

8@">,-"/$%"A0=3-')3)4*)

n>$4'?#"&4"'?4"4'DP3&#+'%,Q5A#"4$'4?'o#4,'o4rA#1'\453">k#p1'+4,&4"'>D'FA"'DA1%&'M"'/"A,$4+'

%'&">22#,R'n>$4'A++"P3&#"'#++'N#F>?'4?'4++'&A,,4'DG+4'#5#?#"'$S'DA1%&#,'M"'#,'?%&+%/'$#5'4?' N4",'>3F'A,/$>D4"1'%$#,+%+#+'>3F'A+?#3&5%,/R'T%$4"#'NG"'#,'5M"4"#'N"%,,4'QG"'1%++'MD,#'1S'+%55'

$#,'/"4$'4++'#5#?#",4'N5%"'%,+"#11#"4$#R'

.,>D'MD,#1&A,1&42#"'N#+>,4"'n>$4'?%&+#,'4?'4++'&A,,4'43&>D24,W#"4'2S'#++'N"A&1%,1+"AD#,+' 1>D'+R#CR'2%4,>R'\#+'M"'>3&1S'?%&+%/+'D#$'$WA24'&A,1&42#"'%,>D'1%++'FA?A$MD,#)'>4?1#++'>D'

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

"#Q5#&+#"4 ' G?#" ' 4,$"41 ' A+?#3&5%,/) ' A+?M"$#"4 ' 1%, ' #/#, ' 2"4&+%& ' 14D+ ' &A,,4 ' +4 ' #/#+ ' 4,1?4"R' 8+N%5$,%,/#,'M"'>3&1S'#,'QG"N#"#$#51#'QG"'>QG"N#"#$$4'1%+A4+%>,#"R

8+N%5$,%,/#,'1PQ+4"'+%55'4++'/#'#,'%,N5%3&'%'#,'DA1%&5M"4"#1'?4"$4/'/#,>D'$#,'2"4&+%&'1>D' /#,>DQG"1 'A,$#"'A+N%5$,%,/#,R '.,>D'2"4&+%&#,'QG"$WA241'?%114'/#,#"#554 '5M"4"&>D2#+#,1#"' 1>D'14D4"N#+#)'DG+#,'D#$'N4",'>3F'#5#?#"0QG"M5$"4")'14D+'/#"'#,'?%11'N#/P,,4,$#'#"Q4"#,F#+R' Z4,'1&4'>D1M++4'>3F'QG"$WA24'$#,'+#>"%'D4,'F4"'QS++'2S'$#,'FG/1&>5#QG"54/$4'A+N%5$,%,/#,' X(!8Y)'NS$#'$%$4&+%1&4'>3F'D#"'MD,#1%,"%&+4$#'&A,1&42#"R'n>$4',MD,#"'4++'A+N%5$,%,/#,'1&4' /#'#,'"P//1M3&'D#$'#"Q4"#,F#+#"'QG"'$#+'&>DD4,$#'P"&#15%?#+R'

n>$4 ' A++"P3&#" ' #, ' Q>&A1#"%,/ ' 2S ' $# ' 5M"4"2">Q#11%>,#554 ' 1>3%454 ' &>D2#+#,1#",4 ' 1S1>D'

&>DDA,%&4+%>,'>3F'&>,Q5%&+F4,+#"%,/R

B@ " C0=3-')3)4*). " 7-A. " &1+ " ?3)A. " .6?0 " ?A.32A0=3-')3)4*) " 2&)0%6 " 4*)*%*--"

-D%6%7%&/*..3&)

.,>D'A+N%5$,%,/#,'Q%,,1'$#+'NS$#'N"4'1%$>"'>3F'$S5%/4'1%$>"R'\#+'Q%,,1'#,'+"4$%+%>,'2S'(OZ'

$M"'DS,/4'4?'5M"4",4'+R#CR'M"'>?4,4'4++'1&"%?4)'?%5&#+'/G"'4++'$#+'%,+#'N5%"'1S'DP3&#+'4?'$#'$M"'

&A"1254,#",4R'\#++4'DS1+#'N5%'NM++"#s'4,1#"'n>$4R'="4$%+%>,#",4'/G"'$#+'+"G/+'4++'QS'%/#,>D' QG"M,$"%,/4" ' >3F ' QG",P#51#) ' #Q+#"1>D ' $#+ ' %,>D ' ?%114 ' %,"%&+,%,/4" ' Q%,,1 ' 1+4"&4 ' S1%&+#" ' >3F'

&A,1&42#"'1>D'N#+"4&+41'1>D'?%&+%/4R'\#+'N5%"'$S'1?S"+'4++'QS'%,',P'&A,1&42)'#Q+#"1>D'$#,',P4'

&A,1&42#,'$S'DS1+#'&>DD4'2S'N#&>1+,4$'4?',S/>,+%,/R'\#+'Q%,,1'$M"#D>+'#,'?%5W4'4++'QG",P4' 1%/R'\#+'QG"1'"#/#5NA,$,4'$%1&A11%>,#"'&"%,/'?4$'1>D'M"'"#5#?4,+4'&>D2#+#,1#")'#C#D2#5?%1'

&>,Q5%&+F4,+#"%,/R'\#,,4'?%5W4'>3F'+"4$%+%>,'5%//#"'QG"1+S1'%'&>,Q5%&+R'8+G?#"'$#+'1M++#"'(OZp1'

#&>,>D%'N#/"M,1,%,/4"R'

O4D4"N#+#+'D#554,'$#'>5%&4'>"/4,#,'QA,/#"4"'#,5%/+'n>$4'N"4R'O4D+45'QG"1'"#/#5NA,$#+'D#$' 68H)'>3F'8!6'F4"'#++'A+>D1+S#,$#'2#"12#&+%?'?%5&#+'&4,'/#'Q##$N43&'1>D'M"'1?S"'4++'A22Q4++4' 1WM5?R'\M"#D>+'/#"'14D4"N#+#+'?%114'"4D4"'>3F'1+P",%,/4"'1>D'&4,'N#/"M,14'?4$'(OZ'QS"' /G"4R

T!8p,'&4,'N5%'NM++"#)'M?#,'Q41+'$#,'F4"'N5%?%+'NM++"#R'=%55$#54,$#+'4?'T!8'254+1#"'F4"'?4"%+'

&4>+%1&+R'B,'G,1&4,'M"'4++'NWA$4'%,'F4,$5#$4"#'+%55'1&>54,'QG"'4++'QS'#,'%,N5%3&'%'?4$'(OZ' 1P1154"'D#$)'>3F'QG"'4++'QS'T!8p,'>3F'(OZ'4++'FM,/4'NM++"#'%F>2R'!"S,'(OZp1'FS55'1S'?%55'

>M

(14)

D4,'4++'2"4&+%&#,'1&4'QG"$WA24'$#,'$%$4&+%1&4'$#5#,'4?'5M"4">55#,)'D#,'$#+'M"'>Q+41+'D#+>$%&#,' 1>D'+#1+41R'T!8UA22/%Q+#",4'M"'+M,&+4'4++'&>D25#++#"4'$#+'1>D'/W>"+1'A,$#"'&A"1'2S'(!8)'+R#CR'

#,1#DN5#12#5R'eS/>,'1M"1&%5$'FM,1P,1'+41'%,+#'%'G?"%/+',M"'$#+'/M55#"'2543#"%,/'#55#"'$#'5>&454' 5M"4"A+N%5$4",41'#/,4'254,#"%,/4"R

E@"9&136-6"/$%+,--6)'*)".&?"/&%?6%"A0=3-')3)4*)

`5%D4+#+'2S'(OZ'&4,'%'1+>"+'1M/41'?4"4'/>$'#,5%/+'n>$4R'n>$41'$G""'1+S"'455+%$'G22#,'QG"' 1+A$#,+#"'>D'n>$4'1WM5?'M"'2S'254+1R'_?#,'$#+ 'G?"%/4'&>55#/%#+ 'N"P" '1%/'>D'1+A$#,+#",4R' O+A$#,+#",4 ' QS" ' +4 ' $#5 ' 4? ' +%$%/4"# ' 1+A$#,+#"1 ' 1P,2A,&+#") ' >3F ' 2S ' &A"15#$4"+"MQQ4" ' QS"' 1+A$#,+#",4'/#'1%,4'#/,4'1P,2A,&+#"'>3F'Q"S/>"R'n>$4'5P11,4"'DP3&#+',>/4'>3F'5M//#"'1+>"'

?%&+'?%$'?4$'1>D'1M/1'A,$#"'$#114'+"MQQ4"R'\#+'#,$4'1>D'#,5%/+'n>$4'Q%,,1'4++'4,DM"&4'2S'M"' 4++'$#+'13F#D4DM11%/+'%N54,$'%,+#'QA,&4"'>2+%D45+)'$S'+R#CR'/#,>D'4++'%,5MD,%,/1A22/%Q+#"'>3F' +#,+>" 'F4D,4" 'A,$#"'14DD4 '?#3&40?#3&>" '?%5&#+ '/G"'4++ '$#+ '&4,'N5% '1+A,$+451 'W>NN%/+'QG"' 1+A$#,+#",4R

F@"C0=3-')3)4*)."%*-*G6)."3"/$%+,--6)'*"03--".0:%'&2A?*)0"3"?A.32"H4%A)'I4:?)6.3A?J

\#'1>D'n>$4'4,1#"'/G"4'NM1+'%Q"S,'1%/',M"'$#+'/M55#"'1+P"$>&AD#,+#,1'"#5#?4,1'%'QG"FS554,$#' +%55'A+N%5$,%,/#,'2S'(OZ'M"'D#+>$%&5M"4",4R'.'D#+>$%&&A"1#",4'+41'1+>"'FM,1P,'+%55'&A"1254,#"' QG"'/"A,$1&>54'>3F'/PD,41%AD)'>3F'?4$'5M"4",4'4,1#"'M"'"#5#?4,+'QG"'P"&#+R'\>3&'Q%,,1'$#+'#,' +%$%/4"#',MD,$'+"4$%+%>,'1>D'%,,#NM"'4++'DS,/4'5M"4"#'%,+#'4,?M,$#"'1%/'4?'&A"1254,#"'+%55'$#,' /"4$'$#'N>"$#R'\M"#D>+'Q%,,1'4DN%+%>,#,'4++'$#+'1&4'QA,/#"4'NM++"#'2S'$#+'>D"S$#+R

n>$4'4,1#"'4++'1+A$#,+#",4'2S'(OZ'QS"'+%55"M3&5%/4'D#+>$#"'QG"'4++'&A,,4'/#'1%,4'Q"4D+%$4'

#5#?#"'N#+P/#+'-/>$&M,$-R'B++'N#+P/'1>D'$#11A+>D'M"'"#45%1+%1&+'2S',4+%>,#55',%?S'#,5%/+'n>$4R' T4$'1>D'14&,41'%'A+N%5$,%,/#,'M"'&A"1#"'>3F'&A,1&42'%'4++'1M++4'N#+P/) '14D+'&A"1#"'%'4++'

%,+#/"#"4'DS,/&A5+A"'>3F'/#,A12#"12#&+%?R''n>$4'F4"'#,'G,1&4,'>D'4++'$#+'1&A55#'?4"4'D#"'4?' 1S$4,4 ' &A"1#"R ' \#+ ' Q%,,1 ' &A"1#" ' % ' $#+) ' D#, ' $#+ ' M" ' 455$#5#1 ' QG" ' 5%+#R ' \#+ ' F4" ' $>3& ' N5%?%+' QG"NM++"%,/4"R

K@">A.326-3.2"=%*''"&1+"D?)*.2A).267*%

t+#"%/#,'M"'$#+'+"4$%+%>,#,'1>D'N#/"M,14"'?%5&4'/#,"#"'1>D'+%55'1+>"'$#5'2"4&+%1#"41R'\#+'M"' D#1+4$#51'&5411%1&+'>3F'W4kkR'\4/#,1'2>2A5M"U0>3F'A,/$>D1UDA1%&'Q%,,1'#/#,+5%/#,'%,+#'D#$' 4551)'A+4,'D4,',>14"'N4"4'2S'$#+'%'#++'24"'&A"1#"R'\>3&'1S'1+"M3&#"'1%/'*H.`'&A"1#",4'Q"S,'a;U L;'+451'DA1%&R'\#+'M"'%,+#'+%55"M3&5%/+'+P3&#"'n>$4)'A+4,'4,1#"'4++'$#+'N>"$#'Q%,,41'D#"'">3&' A,$#"'A+N%5$,%,/#,R'\#+'M"'>3&1S'1?S"+'4++'F%++4'5M"4"#'1>D'N#1%++#"'$#,'&A,1&42#,'%,>D'(OZR'

!G"A+>D ' 4?14&,4$#, ' 4? ' ">3& ' % ' A+N%5$,%,/#, ' 1S ' F4" ' (OZ ' 1?S"+ ' 4++ ' F%,,4 ' D#$ ' % ' $4/#,1' A,/$>D1DA1%&)'1>D'#/#,+5%/#,'%,&5A$#"4"'$#,'D#1+4',A+%$4'DA1%&#,'1>D'FG"1'2S'2>2A5M"4'

"4$%>U'>3F'=T'&4,45#"'U'455+1S'?M5$%/+ 'DP3&#+) 'D#, '%,+#'1M"1&%5+ 'DP3&#+ 'a;UL;'+451 '">3&R' 8+N%5$,%,/#,'F%,,#"'%,+#'D#$'%'$#,',P4 'A,/$>D1&A5+A"#,R '\#,'G?"%/4'/#,"#N"#$$#,'1>D' Q%,,1'2S'(OZ'QS"'D4,'%,>D'D#+>$%&#,R'.,>D'$#,'&5411%1&4'%,"%&+,%,/#,'M"'$#+'F#5+'#,&#5+'

&5411%1&+'1>D'/M55#")'+%55'1&%55,4$'Q"S,'$#,'4Q">4D#"%&4,1&4'%,"%&+,%,/#,'XZ644Y)'$M"'$#+'M"' W4kkR'n>$4',MD,#"',S/"4'>5%&4'4,5#$,%,/4"'+%55'?4"QG"'$#+'M"'1S)'+R#CR'+"4$%+%>,)'14D+'4++'$#+'M"'

?4$'1+A$#,+#",4'?%55'F4R

n>$4'4,1#"'4++'QG"'#,'DA1%&5M"4"#'M"'4554'/#,"#"'?%&+%/4'4++'F4'/"A,$5M//4,$#'&>55'2SR'OM"1&%5$'

?%&+'NG"'5M//41'?%$'">3&'>3F'2>2)'?%5&#+'n>$4'4,1#"'4++'$#+'Q%,,1'455$#5#1'QG"'5%+#'%,>D'(OZR

=">+1 ' $#++4 ' 4,1#" ' n>$4 ' 4++ ' 5M"4",4 ' 2S ' (OZ ' M" ' D#$?#+,4 ' >D ' ?4$ ' 1>D ' &"M?1 ' QG"' DA1%&5M"4"P"&#+R'\#'M"'D#$'%'$%1&A11%>,#"'>3F'?#"&4"'N"P'1%/R

!%3&'n>$4'Q"%4'FM,$#"'A+4,'#&>,>D%1&4'F%,$#"'1&A55#'$#+'N5%'D#"'#"/>,>D%'%/#,R'8+N%5$,%,/#,' 1&A55#'QS'#,'1+4"&4"#'?#+#,1&425%/'/"A,$)'14D+'/M",4'&>2254'#,'Q>"1&4"#'+%55'A+N%5$,%,/#,R'Z#"' 14D2#5'>3F'A+NP+#'D#554,'1&>5>")'14D+'4++'QS'1+A$#,+#",4'4++'N5%'D#"'$#54&+%/4'>3F'+4'D#"' 4,1?4"'QG"'1%,'#/#,'A+N%5$,%,/R

>N

(15)

!,-+-"'./01

8@">,-"/$%"A0=3-')3)4*)

E9*[ ' N#+>,4" ' $#51 ' ?%&+#, ' FG/ ' QM"$%/F#+ ' 2S ' #++ ' %,1+"AD#,+) ' 12#5 ' A+4, ' ,>+#" ' >3F'

"#2#"+>4"&M,,#$>D) ' %D2">?%14+%>,) ' N"A&143&>"$12#5) ' 1S,/) ' D#, ' >3&1S ' 455DM,,4 ' 1>3%454'

&>D2#+#,1#"'1S1>D'4++'&A,,4'AD/S1'D#$'#5#?#"'>3F'$#"41'QG"M5$"4")'&>55#/#")'455DM,F#+#,)'

&A,,4'DG+4'N4",'>3F'A,/$>D4")'QS'#,'+"M,%,/'%'4++'DG+4'1>3%454'1%+A4+%>,#"'%'?#"&5%/F#+#,R' _?#,'&A,1&42'%'FA"'D4,'Q%,,#"'D4+#"%45'4,1#"'E9*['M"'?%&+%/R'B,'3#,+"45'$#5'4?'A+N%5$,%,/#,' M"' 2"4&+%&#, 'XT!8p,Y)' ?%5&#,) '>D '$#,' QA,/#"4")' 1&4 '/#' &A,1&42#"' >3F'&>D2#+#,1#" ' D#$'

?#"&5%/F#+1QG"4,&"%,/R'=4,&#,'M"'4++'D4,'1&4'+#1+4'$#+'D4,'5M"+'1%/'%'+#>"%,)'A+#'%'?#"&5%/F#+#,R' .,>D'14DD4'&>,+#C+'M"'455+1S'DS5#,'QG"'(!8p,'4++'$#,'1&4'/S'F4,$'%'F4,$'D#$'T!8p,R'B,'

?%&+%/'&>D2#+#,1'M"'4++'&A,,4'5M//4'A22'A,$#"?%1,%,/#,'1S'4++'4554'#5#?#"'&4,'QG5W4'D#$R E9*['+P3&#"'4++'$#+'Q%,,1'DGW5%/F#+'QG"'5M"4",4'4++'2S?#"&4'DS5#,'QG"'A+N%5$,%,/#,R'\#'QS"'

$%"#&+%?'Q"S,'FG/"#'%,1+4,1'X8!6Y)'1>D'$#'F4"'DGW5%/F#+'4++'1&"%?4'>DR'7,5#$,%,/#,'+%55'?4"QG"'

$#'N#FG?#"'1&"%?4',P4'&A"1254,#"'M"'2R/R4R'2>5%+%&#"R'eP'"#/#"%,/'N#+P$#"'>Q+41+',P4'$%"#&+%?' Q"S,'(G/1&>5#?#"&#+R

B@ " C0=3-')3)4*). " 7-A. " &1+ " ?3)A. " .6?0 " ?A.32A0=3-')3)4*) " 2&)0%6 " 4*)*%*--"

-D%6%7%&/*..3&)

E9*[ ' 1M/#" ' 4++ ' $#+ ' Q%,,1 ' #, ' 12M,,%,/ ' D#554, ' 5M"4"# ' 1>D ' N#+>,4" ' ?%&+#, ' 4? ' FG/4' MD,#1&A,1&42#" ' >3F ' 5#$,%,/#, ' 1>D ' M" ' D#" ' Q>&A1#"4$ ' 2S ' P"&#1">55#, ' 1>D ' 5M"4"#R ' E9*[' ,MD,#" ' #&>,>D%, ' 2S ' (OZ ' 1>D ' #, ' $#5 ' 4? ' 2">N5#D#+) ' #Q+#"1>D ' D4, ' DS1+# ' 2"%>"%+#"4' ,S/>,+%,/R'*"%>"%+#"%,/#,'Q"S,'5#$,%,/#,1'1%$4'N5%"'$S'5M"4"">55#,R'E9*['M"'1+>5+'G?#"'4++'F4'#,' 5#$,%,/'1>D'M"'1S'2411'?#"&5%/F#+1QG"4,&"4$)'#Q+#"1>D'n>$4'Q>"+Q4"4,$#'M"'P"&#1?#"&14D'1>D' 5M"4"#R'\#+'F4"'/%?%+'#,'P"&#14,24114$'>3F'P"&#1D#$?#+#,'A+N%5$,%,/)'D#$'4"N#+#'%'N41/"A22#"'

>3F'2">W#&+'1>D'/#"'&A,1&42#"'%'N54,$'4,,4+'14D4"N#+#R'\#+'M"'>3&1S'$#,,4'P"&#14,24114$#'

$#5'E9*['4,1#"'4++'(OZ'M"'NM1+'2SR'\#+'1>D'/G"1'2S'(OZ)'+R#CR'D#+>$%&'>3F'$%$4&+%&'1&4' N54,$41'A,$#"'2"4&+%&#,R'\#+'1&4'/S'F4,$'%'F4,$'>3F'1&424'#,'"G$'+"S$R'E9*['+P3&#"'$#+'M"'

?%&+%/+'4++'1+A$#,+#",4)'%'14D4"N#+#'D#$'E9*[)'M"'D#$'%'A+Q>"D,%,/#,'4?'$#'A22/%Q+#"'1>D'1&4' /#,>DQG"41'2S'T!8p,R

\M"#D>+'M"'$#+'QG"'5%+#'$%1&A11%>,#"'&"%,/'?%5&4'#/#,1&42#"'#,'5M"4"#'NG"'N#1%++4R'

O4D4"N#+#+'D#554,'>5%&4'>"/4,'F4"'?4"%+'N"%1+QM55%/R'\#+'F4"'?4"%+'2">N5#D'%'14D4"N#+#+'D#$' 8!6'4,/S#,$#'?4$'1>D'1&4'%,/S'%'?%5&4'+#"D%,#"'2S'$#51'2#$4/>/#,'>3F'$#51'(OZR'\#+'F4"'

>3&1S ' QA,,%+1 ' 2">N5#D ' D#$ ' T!8 ' 254+1#" ' +%55 ' 1+A$#,+#",4) ' 14D+ ' Q"S/>" ' &"%,/' /PD,41%#&>D2#+#,1'1>D'%,+#'?4"'1WM5?&54"+'+%55'#,'NG"W4,R

E@"9&136-6"/$%+,--6)'*)".&?"/&%?6%"A0=3-')3)4*)

E9*['+P3&#"'4++'D%5WG,'2S'(OZ'M"'N"4R'6M"4",4'?M",4"'>D'1%,4'1+A$#,+#"'>3F'/#"'455+%$'#++'N"4' N#DG+4,$#R'O+MD,%,/#,'N54,$'#5#?#",4'M"'N"4'>3F'$#+'Q%,,1'#/#,+5%/#,'%,/#,+%,/'4++'4,DM"&4' 2SR'E9*['1M/#"'4++',M"'D%5WG,'M"'N"4'>3F'QA,/#"4"'1S'QA,/#"4"'M?#,'5M"4,$#+)'>3F'+?M"+>DR' F@"C0=3-')3)4*)."%*-*G6)."3"/$%+,--6)'*"03--".0:%'&2A?*)0"3"?A.32"H4%A)'I4:?)6.3A?J

\#+'M"'1?S"+'4++'QS'Q"4D'&54"4'$#Q%,%+%?4'1?4"'%,>D'$#++4'>D"S$#R'=%55'1+>"'$#5'2R/R4R'4++'E9*['

%,+#'F4"'$#,'G?#"N5%3&#,'&"%,/'DA1%&5M"4"A+N%5$,%,/#,R'`A"1#",4'2S'(OZ'4,241141'$M"#D>+'%' QG"FS554,$#'+%55'&A"1254,#",4'%,>D'/"A,$1&>54,)'D#,'M?#,'&A5+A"1&>54,)'+">+1'4++'"%&+5%,W#",4'

$M"'M"'?4/4R'E9*['?%55'F4'D#"'D#+>$#"'S+'1+A$#,+#",4'1S'4++'4554'$#"41'Q"4D+%$4'#5#?#"'1&4'

&A,,4'A22,S'N#+P/#+'/>$&M,$R'E9*[p1'&A,1&42'>D'/PD,41%#+1'&A"1254,#"'M"'$>3&'?M5$%/+' N#/"M,14$R'eM"'$#+'/M55#"'&A,1&42'%'4++'1M++4'N#+P/'+P3&#"'F4,'%,+#'4++'$#+'M"'+%55"M3&5%/+'?%&+%/+' 4++'QS'&A"1#"'%'$#+'A,$#"'A+N%5$,%,/#,R'ZS,/&A5+A"'>3F'/#,A1)'14D+',4+%>,#554'&A"1254,#"'&4,' E9*[ ' %,+# ' A++454 ' 1%/) ' F#5+ ' #,&#5+ ' QG" ' 4++ ' F4, ' %,+# ' ?#+ ' FA" ' DP3&#+ ' 4? ' $#+ ' 1>D ' Q%,,1 ' %' A+N%5$,%,/#,)'M?#,'>D'F4,'+P3&#"'$#+'M"'?%&+%/+R

>O

(16)

K@">A.326-3.2"=%*''"&1+"D?)*.2A).267*%

E9*['F>2241'4++'1+A$#,+#",4'QS"'$#,'DA1%&45%1&4'N"#$$'1>D'N#FG?1)'D#,'F4"'#/#,+5%/#,'%,+#'

$#, ' %,N5%3& ' % ' A+N%5$,%,/#, ' 1>D ' &"M?1 ' QG" ' 4++ ' $#Q%,%+%?+ ' A++454 ' 1%/R ' .,>D ' $#, ' &5411%1&4'

%,"%&+,%,/#,'2S'(OZ'M"'$#+'&5411%1&'DA1%&'1>D'$#+'Q>&A1#"41'2S)'M?#,'>D'$#+'&"M?1'N"#$4"#'

&A,1&42#" ' QG" ' 4++ ' &54"4 ' 4? ' DA1%&5M"4"W>NN#+R ' E9*[ ' +P3&#" ' 4++ ' 4554 ' /#,"#" ' M" ' ?%&+%/4 ' 4++' N#FM"1&4'QG"'4++'W>NN4'%,>D'/"A,$1&>54'>3F'/PD,41%AD)'D#,'A,/$>D4"1'DA1%&'+">"'E9*['

%,+#'+41'+%55?4"4'2S'A,$#"'A+N%5$,%,/#,R'`>225%,/#,'+%55'T!8p,'M"'%,+#'455+%$'$#+'?%&+%/41+#'%'

&A"1#",4)'D#,'"#5#?4,1#,'QG"'P"&#+'1&4'Q%,,41'$M"R'=">+1'$#+'4,1#"'E9*['4++'%,+#'4554'5M"4"#'M"' D#$?#+,4'>D'?%5&4'&A,1&42#"'1>D'&"M?1'QG"'DA1%&5M"4"P"&#+)'>3F'%N54,$'N"P"'$#'1%/'QG"'5%+#' 4++'+4'"#$4'2S'$#+R

.' #, ' %$#451&>54 ' 1&A55# ' N"A&143&>"$12#5) ' 1S,/' >3F ' 1>3%45 ' &>D2#+#,1 ' ?4"4 ' % ' Q>&A1R ' ZP3&#+'

"#2#"+>4" ' >3F ' &A,1&42 ' 4++ ' Q%,,4 ' D4+#"%45 ' +%55 ' A,$#"?%1,%,/) ' 14D+ ' &A,1&42 ' 4++ ' 5M//4 ' A22' A,$#"?%1,%,/#,'1S'4++'4554'#5#?#"'X%/"A,$1&>540/PD,41%ADY'&4,'QG5W4'D#$R'E9*['+P3&#"'>3&1S' 4++'1+A$#,+#,1'%,"%&+,%,/'2S'(OZ'1&4'QG5W4'D#$'A,$#"'F#54'A+N%5$,%,/#,R

!,-+-"'2343

8@">,-"/$%"A0=3-')3)4*)

ZS5#+'D#$'&A"1#,'#,5%/+'HK\K'M"'4++'QS'#,'QG"1+S#51#'QG"'DA1%&#,1'NP//1+#,4"'>3F'FA"'D4,'

&4,' 4,?M,$4' 1%/'4? '$#DR ' ' \#+'&"M?1 ' N"4' +#&,%&' QG"'4++ ' W>NN4' D#$ 'DA1%&R ' \S'$#+ '/M55#"' 2#$4/>/N%+#,'1S'4,1#"'F4,'4++'D4,'N#FG?#"'#,'QA,/#"4,$#'"G1+)'FG/'%,1+"AD#,+45',%?S'2S'1%++' FA?A$%,1+"AD#,+'QG"'4++'N5%'#,'N"4'2#$4/>/R'\#114'&A,1&42#"'1>D'HK\K'+P3&#"'M"'?%&+%/4'%' A+N%5$,%,/#,'QS"'QG"'5%+#'$#5'%'A+N%5$,%,/#,'>3F'$#+'N>"$#'?4"4'D#"'#,5%/+'F>,>DR'*S?#"&4,'2S' DS5#,'QG"'5M"4"A+N%5$,%,/#,1'14D+5%/4'&A"1#"'M"'D4"/%,#55'>D'D4,'%,+#'M"'$"%Q+%/)'D#,'D4,'

&4,'2S?#"&4'DS5#,'QG"'1%,'#/#,'&A"1R'B5#?#",4'2S'(OZ'F4"'1+>"+'%,Q5P+4,$#'2S'&A"1#,'>3F'&4,' 2S?#"&4'A+N%5$,%,/#,'%'1+>"+)'$S'$#'QS"'5MD,4'1%,4'1P,2A,&+#"'2S'&A"1+"MQQ4"'>3F'A+?M"$#"%,/4"R' (4,'+P3&#"'4++'78[U'2#"%>$#",4'1&424"'#,'2">N5#D4+%1&'"#54+%>,'+%55'(OZ)'$S'$#+'N5%"'#++' 4?N">++'%'QG"$WA2,%,/#,'4?'DA1%&MD,#+R'

B@ " C0=3-')3)4*). " 7-A. " &1+ " ?3)A. " .6?0 " ?A.32A0=3-')3)4*) " 2&)0%6 " 4*)*%*--"

-D%6%7%&/*..3&)

HK\K'A+"P3&#"'%'%,+#"?WA,'4++'F4,'?%55'4++'1+A$#,+#",4'1&4'QS'1S'FG/4'&A,1&42#"'1>D'DGW5%/+)'

>3F'QS'4"N#+4'>"$#,+5%/+'D#$'N41454',G$?M,$%/4'&A,1&42#"'F4,'4,1#"'?4"4'?%&+%/4R'6#$,%,/#,'

$M"#D>+'QG"#12"S&4"'#,'D#"'5M"4"Q>&A1#"4$'2"4&+%1&'&A,1&4211P,)'>3F'4++'HK\K'QS"'$%"#&+%?' Q"S,'5#$,%,/#,'4++'F4'#++'5M"4"2#"12#&+%?'2S'A,$#"?%1,%,/#,R'6M"4"A+N%5$,%,/#,'F4"'$#'"M++4'

?#"&+P/#,'QG"'4++'4"N#+4'1>D'5M"4"#'D#,'4++'455+'F4"'+A,,4+1'A+'QG"'4++'/G"4'254+1'QG"'$#+',P4R'

`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

$#114'1+A$#,+#"R'\#114'1+A$#,+#"'F4"'#,'12#3%Q%&'%,"%&+,%,/'>3F'$#+'M"'1?S"+'4++'2"4&+%1#"4'$#,,4'

%,"%&+,%,/'1>D'5M"4"#'%'?#"&5%/F#+#,R'7,/S#,$#'T!8'1S'?#+'F4,'QG"'5%+#'QG"'4++'A++454'1%/)'D#,' /#"'#,'N%5$'4?'4++'$#+'%,+#'+41'1S'1+>"'FM,1P,'+%55'$#'5>&454'5M"4"A+N%5$4",4R'

E@"9&136-6"/$%+,--6)'*)".&?"/&%?6%"A0=3-')3)4*)

Z%5WG,'2S?#"&4"'1+A$#,+#",4'NS$#'2>1%+%?+'>3F',#/4+%?+R'HK\K'4,1#"'4++'1+A$#,+#",4'5M"'1%/'

>P

Figur

Updating...

Relaterade ämnen :