Istorija moderne arhitekture

7/17/2019 Istorija moderne arhitekture

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

, *:* 02 *51('( 5( @/2B2 (/F&-.'(-( '*0& .= = G(A10*0 H.-7/-&1& IJI 7# <2+*:(+& = %&'(7=79(<2@& '*,./K&0(+1. & B*3+*71. G@/(A. -*<&71=/2 = &./*; -29&*<=, 1&02<(1 *< /&8 (98&/2'(/( 1&02 6&* 9*P21 = %&'(7=> :2@ .= /* 6&+& /&-&31& S;29&'(14& J625'*921(L '*0& .= &)+& 5( -9*792.*;A *6&31* .= <2+*:(+& = /&;*:&;( JQ (98&/2'(/( = /9& -(9(L> 3&0=*'*.1&4= 6& 3&1&+( -* <:*04( -(9/129( .( -*<2+021&; <=K1*./&;(A, 5( 579(<2 %&'()'2 )'*+2 /&-&31* 02 .+2<2@2B!# '*1./9='/&:1*> M=1'4&*1(+1* & 2./2/.'* 02<&1./:*"# 1*:& ;(/29&0(+& & '*1./9='4&02 J32+&31& .'2+2/> 5&< , 5(:2.(> ./('+*> ###LI# 1*:& 1(3&1 M=1<&9(10( J+26<2@& /2;2+0L> 56*7 ;2'*7 & -*<:*<1*7 /+( %&'(7(D# 1*: /92/;(1 -9*5*9( J:2+&'& <2* -*:9)&12 M(.(<2> T%&'()'& -9*5*9T J421/9(+1* M&'.&9(1(*'1(> :29/&'(+1* '+&51* */:(9(102> <:*./9='&L

G# 1*:& /&-*:& 79(P2:&1( J-*.+*:1& & (<;&1&./9(/&:1& *6+('*<29&LQ# -9&;21( /281&3'&8 <*./&71=@( J+&M/> ###L, 3-/2'-2/1. *A+&'. G@/(A( %&'()'. )'*+.4, '*1./9='4&02 *< +&:21*7 7:*KP( '*02 .= .92<&1*; UVU :# <*./&7+2 '9(010= /(3'= = 9(5:*0=>

-*'(5(+2 .= .2 12-*./*0(1&; = -*K(9=A 56*7 /*7( -*3&102 *6+(7(102 '*1./9='/&:1&8 2+2;21(/(J./=6*:( & 792<(L :(/9**/-*91&; ;(/29&0(+*; , )=-+0&; 6+*'*:&;(> *-2'*;> 62/*1*;> ###A=;2./* &./*9&4&./&3'&8 M(.(<( *< +&:21*7 7:*KP(> (98&/2'/& .2 1(0-92 :9(@(0= 1( 5&<(12 M(.(<2A

-9*6+2; .( *:*; '*1./9='4&*1*; '*142-4&0*; 6&* 02 = /*;2 )/* .= '*< :&.*'&8 579(<(<26+0&12 M(.(<1&8 5&<*:( <9(;(/&31* 9(.+2 '( -9&52;+0= & -*<9=;= <*.2K=@& & -92'* " ;> (56*7 /*7( .2 0(:+0(* & -9*6+2; .( *.:2/+02102;> *-/292@2102; & .;(102102; '*9&.12 -*:9)&12, 92)2102 *:*7 -9*6+2;( .(./*0(+* .2 = *<:(0(10= 1*.2@2 '*1./9='4&02 *< 1*)212 M(.(<2 &

:&<+0&:*7 2+2;21/( '*0& 02 ;*7(* 6&/& 5&<(1 &+& *< <9=7*7 ;(/29&0(+(A /(10( M(.(<(> '*0( 02 .:*02*-/292@2102 -92<(:(+( 1*.2@*0 '*1./9='4&0& 1( .:('*; .-9(/=> 1(5:(1( 02 CG&ALG(7.3(CA

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9(5:*0 /(':2 M(.(<2 = '*1./9='/&:1*; & *6+&'*:1*; .;&.+= *62+2K21 02 9(51*:9.1*)@=> =.+2< -9&+(7*<+0&:*./& '*142-/(A 5( 79(P2:&1(92 *:* 02 51(3&+* <*.(< 12:&P21= 02<1*./(:1*./ 79(<102, (/F&-.'-& %&'()'. )'*+.4 ,F /9& 72129(4&02 (98&/2'(/(B -9:( .( W# X# Y(9*1*; ZK21&02;*.1&:(32;> -92'* (98&/2'(/( 9*P21&8 -9&6+&K1* !CGH# JY(912; & R=/> [*+(629< & R*=3 & S<+29 &\(+&:21L> ( '*0& .= <*./&7+& 592+*./ -9&6+&K1* !CNH#> -( <* /92@2 72129(4&02 .( ]9(1' X*0<

R(0/*;L M.1/& M*N3*1 O&H(/A3*1 PM.1/Q M*N3*1 O&KF(/A3*1R9 !:<;# L !::S#, ./=<&9(* 1( X^_4*+2 <2. Y2(=` S9/. = a(9&5=A 6&* -*< =/&4(02; W&*+2,+2,Z&'(A 9(<&* '*< S19&X(69=./(A 6&* 02 -*51(:(+(4 &./*9&0.'&8 ./&+*:( & -9&./(+&4( 9*;(1/&5;(A *6+&'*:1& &59(5 ,F12*9*;(1/&'(A 79(<&* )&9*; S;29&'2, -* -*:9(/'= &5 a(9&5(> K&:2* 02 = b0= c*9'=> -( = Y*./*1=> <( 6& .2 *'* !CCH# ='+0=3&* = 9(<3&'()'&8 (98&/2'(/(!# T(/3F(+ U&.+A VF*+.3(+. W-*/.9 !::;#L:X#, 579(<( &;( E .-9(/*:(> '*1529:(/&:1*7 02 '*1./9='/&:1*7 .'+*-(A ;*1=;21/(+1(12*9*;(1&'(> 9(4&*1(+1* -9*02'/*:(102> -9*5*9& &;(0= :2@= -*:9)&1= 127* <* /(< J\(+&:21= 02

6&* &5(5*: <( .2 /(';&3& .( R&3(9<.*1*; J1027*:( 579(<( S=<&/*9&0=; -*< =/&4(02; 02 9(1&02

-*<&71=/2 R&3(9<.*1*:2 ?# ]# \/*92LLL D&+&0(, E.?(/*1 =>.1& PY&++&(, E. ?(/*1 Z.11.QR9 !:<"# L !:[X# ,F *.1&:(3 )'*+2 ,)'*+*:(1 = ]9(14=.'*0, ./=<&9(* 1( X^_4*+2 a*+d/2481&e=2 & X^_4*+2 f21/9(+2 = a(9&5=A 1&02 6&* -*< =/&4(02; X^_4*+2<2. Y2(=` S9/. M*9;(+&5;(> 9(4&*1(+&./(A *91(;21/(4&0= 02 -92-=)/(* (.&./21/&;(> 6(:&* .2&1K21029.'&; -9*6+2;&;( J=.-2)(1 = &1K21029.'&; -*.+*:&;(L!# U&/3- E.&-./ N2&+A&1@9 !:X[# , '*1529:(/&:1& ./&+"# M*,. &132/(1K. N2&+A&1@ P83&@2/(7(02\& G(7*A L !::]#L:;#R , -9:( 579(<( .( 5&<,5(:2.*; J-*./*0(+( 02 .(;* = 7*910&; 2/(K(;( , (+& /* 02 -*32/('L<# T(1F(--(1 N2&+A&1@9 !::[#L[^# g]# W.K*1A E.&-./ N2&+A&1@9 !::[#L[!# g '+(.&'( %&'()'2 )'*+2;# U(&/ W-*/. N2&+A&1@9 !:[^#L[!# g J*/'9&:21 32+&31& .'+*- h 5&<,5(:2.(LL ?(/1., & O2- P=(1&.+ M# ?2/1F(, _ Z*F1 Y.++N*/1 O**-R!# O**'./Q N2&+A&1@9 !::S#, 92<=4&9(1 ;*<2+ [# [# R&3(9<.*1("# T*1(A1*K' N2+A&1@9 !::[#L[!# ,F .;(/9(+& .= <( 579(<2 '*02 .2 1(+(52 =.92< /2 =5(:92+2'*)1&42 =K=96(1&8> -*.+*:1&8 +0=<& 12 /926( <( .'92@= -(K10= .:*0&; &./(13(1&;(98&/2'/*1.'&; &59(5*;A '&@2102 02 -*/-=1* 62.'*9&.1*A /2K2 '( -*02<1*./(:+021*; &57+2<=, 02<1* *< 1(05(1&;+0&:&0&8 <2+( %&'()'2 )'*+2A &17.3-&-*/ L `&-./ ?/2'3> -92<=5&;(3 &5Y*./*1(> 5(8/2:(* 02 02<1*./(:(1 &57+2< 625 ='9(.(> &59(5 3:9./*@2 & .1(72A -9*02'/*:(102 025(-*32/* 0*) !CCD# 5( -(942+= "H ; -=/( IH ; & !" .-9(/*:(> ( 5(:9)21* 02 5( <=K&1= *< QH ; &

:&.&1= !Q .-9(/*:( J9(<1& 1(5&: 579(<2 6&* 02 Ti:(;':&.2/T> '(.1&02 ?*=1(<1*' J(+=5&0( 1(&./*&;21& :98 = b0= [2;-)(09=LLA *6+&' ':(<9(, '*1./9='4&0( J-*.+2<10& -=/ .2 &)+* 1( '*;6&1(4&0= 9(;*:.'2 '*1./9='4&02 & .-*+0()10&81*.2@&8 5&<*:( J*-2'(LLB ;(.&:1& *6*<1& 5&<*:&> 9(;*:& *< 32+&'( = .92<&1&A &.'*9&)@21*./

-*:9)&12 QC jA 579(<( 02 .-*+0( *< *-2'2 JR=/ 02 -+(1&9(* -92+(5 = 6*0& J-*+&89*;&0( ,F ;*K<(2'.421/9&31*> (+& +*7&31* 029 02 R=/ 6&* *-.2<1=/ 6*0*; = (98&/2'/=9&L *< /2;12 '( .:2/+*0> (+&&5:2<21* 02 02<1*6*01* J.;2P(> ( <(1(. &57+2<(> 5(:&.1* *< .:2/+(> +0=6&3(./*LLA a&/29 Y9='. 02/('* *<+=3&* &5 2./2/.'&8 9(5+*7(> '*0& .= :29*:(/1* 6&+& -*:25(1& .( -9*&5:*<10*; /('*1&0(1.&9(12 *-2'2A 12;( -*+='9=K1&8 -9*5*9( J.(;* -9(:*=7(*1& & /* 625 *':&9(L 1&/& ='9(.(>&;( 29'292 5( <*<(/1& .-9(/1& -9*./*9A *-)/& &57+2< , /2K&* .2 T27&-(/.'*0T &59(K(01*./& ,5('*)21* -*<1*K02 J*<9(K(:( ./(6&+1*./L> 5:*1(./& T-(-&9=.T :21(4 1( :98= , 2M2'(/ -&+*1(A

79(1&/ , = -*<1*K0= *'* =+(5( & &5+*7(A 1( =7+*:&;( JK+026 *< /92@27 .-9(/( .:2 <=6+0& '( :98=L

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.= &5:2<21( *6(9(10( &:&4( '*0( 9(./= *< 6(5&.( '( :98=A &5<=K21( 579(<(> *<.=./:**91(;21(/(, 5(./=-1&' &1:2./&/*9( 02 5(8/2:(* '9(010= 02<1*./(:1*./> *<6(4=0=@& R=/*:2 .'&42 .( :&)2='9(.(> <*' 02 R=/ 6&* 1( ;*9= 1( <:*12<2+01*; *<;*9=> Y(912; 02 1(+*K&* 02<1*; *<49/(3( <( =9(<& -9*02'(/ '(* T'=/&0( *< *-2'2T# R=/ 02 6&* -* -*:9(/'= +0=/> (+& .2 -9&+(7*<&*

J(+& *:( -9&3( 1&02 /(31(LA '*1./9='4&0( -*<9(5=;2:( -9*-*94&*1(+(1 9(./ <26+0&12 5&<*:( .(:&.&1*; J)/* 6& 51(3&+* <( 02 <26+0&1( 1*.2@&8 5&<*:( = *.1*:& !C" 4;> ( )/* 6& 51(3&+* :2+&'*.;(102102 '*9&.12 -*:9)&12 & :2+&'* *-/292@2102 5( &*1('* ;2'* & -*<:*<1* 3&'()'* /+*, 579(<( 02 &1/292.(1/1( & '(* -&*1&9.'& -9&;29 .-927*:( -9*/&: :2/9(> 029 -*92< 5&<(1&8

-*-9231&8 ='9=@210( -*./*02 -*9/(+1( *0(3(10( = :&<= 32+&31&8 792<(, =5(1 /2921 1&02 *;*7=@(:(* &579(<10= .92<&)10&8 ./('+*; -92'9&:21&8 <:*9&)/( J&1(32 /&-&31(5( R=/*:2 579(<2L> (+& 02 <*5:*+&* *6*<1& 9(.-*92< '(142+(9&0(, 579(<( ?*=1(<1*'B :&.&1( Q! ;> )&9&1( "! ;> <=K&1( QH>Q ;A 8k(l6k(lIB!, 5()/* -9*M&+ -(-&9=.(m ,F '(* & Z*10& _7&-(/ & %&'(7* 02 ;*3:(91* -*<9=302> 7<2 .2 92'(=+&:( = :2@= :*<21= -*:9)&1=A /('*P2 -(-&9=. 02 .+&3(1 <&:+02; +='=> ( &;2 79(<( %&'(7* 6&+*

02 &5:2<21* *< &1<&0(1.'2 923& '*0( 51(3& T-*+02 <&:+027 +='(T

L T*1(A1*K' N2+&A&1@ (11.a9 !:[<#, '*;6&1(4&0( (98&/2'/*1.'&8 2+2;21(/( -9:*7 <2+( 579(<2 & ?(9)(+ ]&+< R&3(9<.*1(<# O.+&(1K. N2&+A&1@9 !:[]#L[;# ,F Y(912; & .(9(<1&4&, -*.+2 R=/*:2 -929(12 .;9/&> 7+(:1& -9*02'/(1/ *:2 579(<2 6&* 02 %(/+3 5-72AA 579(<(92-92521/=02 &5=52/1* 9(5=;2:(102 -9&9*<2 5&<,5(:2.2A !!,/*.-9(/1( 1*.2@( '*1./9='4&0(

-*<&71=/( 02 5( !G <(1(A /9(1.-(9214&0*; M(.(<2 J:9+* 2+27(1/1( .-*+0()10*./L <*3(9(1( 021021( &5=52/1( +('*@( J8*9&5*1/(+12 /9('2 %&'()'&8 -9*5*9(LA &./*9&4&5(; , .(;* = .2'=1<(91*0

-+(./&4&A *6+&'*:1* , ;28(1*;*9M1( '*;6&1(4&0( 8*9&5*1/(+1*7 & :29/&'(+1*7A M(.(<( *:2579(<2 <*3(9(:( & 2./2/.'& -*/214&0(+ 32+&31*7 9(;(A <*;&1(4&0( 8*9&5*1/(+&5;(B '*1/&1=(+1&

-(9(-2/&> %&'()'& -9*5*9& J/9*<2+1&L, *./(+2 :(K1&02 579(<2 Z# Y(912;(B]# U&3KF./ N2&+A&1@9 !:[S# Ja(:&+0*1 9&6(9./:(L , -.2=<*7*/.'& &./*9&4&5(; = .2'=1<(91*0

-+(./&4&;# O(&+V(Q .aK(1@. N2&+A&1@9 ![^<#L^[#S# 8/KF.3-/( F(++9 ![^;#, 6&* 02 7+(:1& (98&/2'/( , -+(129 %&'()'2 &5+*K62 !CNI#L M*+(N./A & O*2H PY&++&(, M*+(N&/A _ T(/-&1 O*KF.R!# b(K*,( N2+&A&1@9 !::[#, !",/*.-9(/1&4( .( .'2+2/1*; '*1./9='4&0*; , =/&4(0 ZK21&0("# `*1-&(K N2&+A&1@9 !:[!#, .+&31(> :2*;( 02<1*./(:1( !I,/*.-9(/1&4(

<# 8+A c*+*1Q N2&+A&1@9 !:[<#L[]#, 2+27(1/1( !D,/*.-9(/1&4(> 3&./( M*9;( 625 29'29(> .( *6+&3(./&; =7+*:&;( , <*+(5& <* &59(K(0(= .=)/&1& '+(.&4&./&3'( /9&-(9/&/1( -*<2+( ;(.2 *602'/( 1( N(G&39 -+* & C'(B&-(+C> '(9('/29&./&31(5( :2@&1= :&.*'&8 579(<( %&'()'2 )'*+2]# T(/d2.--. N2+&A&1@9 !:[]#, 5( 9(5+&'= *< Y(912;*:2 & _/:=<*:2 579(<2 R&+(0(1.> *:<2 .2 5&<,5(:2.( '*9&./& 5(&59(K(:(102 69=/(+12 .1(72 '*1./9='4&02> ( 12 10212 +('*@2, '+(.&4&./&3'& &./*9&4&5(; = *-)/*0 -*0(:1*./& , '=6&31( M*9;( J-9(:*=7(*1& 9(./29L> 9=./&'(4&0(

-9&52;+0(> :21(4 1( :98=A .1(K(1 ;*<=+(91& 9(./29 , '*1/&1=(+12 :29/&'(+12 & 12)/* =:=321&;(.&:1& 1(/-9*5*91&4&, 579(<( 02 .:*0&; ,.F(1*,*/e&3-&H'&, B2/&G,*, .1(K1* =/&4(;( 1( ?&.( :(1 <29 R*2(

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, 0*) &1/215&:1&0& & 12<:*.;&.+21&0& &.'(5 /2;( .( ?(9'2/ 579(<2A &1/215&:1&0( ;28(1*;*9M&31(&1/29-92/(4&0( .'2+2/( '*0& <*;&1&9( 1(< 5&<,5(:2.*;S# cF&K(@* 3(7&1@3 N(1'9 ![^]#L^;# g /&-&31( %&'()'( )'*+(X# ?/**'3 N2&+A&1@ g = -923&)@21*; [*+(629< k R*=3 ;(1&9=:# cF&K(@* K&-Q F(++ L K*21-Q N2&+A&1@9 ![^X#L!!#

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!I# X=0 \(+&:21> !CGQ# , !N"E#

!<# E20 W(+&7.19 !:;S# L !["X#

L gA+./ & W(+&7.1 P=(1',(/ gA+./ J&1K21029.'( ./9(1(L _ E*2&3 M.1/Q W2++&7(1 J2./2/.'(./9(1(LR L C%&'()'( )'*+(CL E20 W(+&7.19 !:;S# L !["X# ,F TM*9;( .+2<& '*1./9='4&0=T JM=1'4&0=L, 2*B)-. * A.+24, &5=59/1* .+*K21( M&7=9( , 3*:2' 3&02 02 <2+* -9*K2/* .&7=91*)@= *<1*.( T/9(<&4&*1(+1*7T &T1(-92<1*7T, /2K&* 02 *./:(9210= *6+&'*:1*7 02<&1./:( 579(<2> 1(+(K210= -9(:&+( = *<1*.&;('*1./9='/&:1*7 .&./2;( & -*2/&'2 (98&/2'/*1.'2 M*9;2> /0# */1(,.1-( J1027*:2 579(<2 .=

-92'9&:212 *91(;21/&;(L, *N/(G*7(10.4, 9*P21 02 !CGQ# = Y*./*1=> <9K(:( ?(.(3=.2/.A -9*/&:&* .2 &1./&/=4&*1(+1*; )'*+*:(10= , 5:(*

02 )'*+= T5(/:*9*; 5( <24=T J;(0'( M91(4=.'*,):(04(9.'*7 -*92'+( &5 n212:2 & */(4 V9(4> :*<2+2/10= )'*+= &79(10( = *'*+&1& Y*./*1( & /('* 5(9(P=0=A X=0 02 '(* <2/2 .'*9* .:('* +2/*

-9*:*<&* '*< 6(62 & <2<2 J;(03&1( ./9(1(L 1( M(9;& = c=K1*; R2<&17=L> ( 5( (98&/2'/=9= .2*-92<2+&* 0*) = <2/&10./:=> &;-92.&*1&9(1 .( 51(102; * -9*42.= -921*)210( =1(-92< *<92P212&<202 -92'* /281*+*)'&8 <*./&71=@( = 92(+1*./ J<*7(P(0& &5 <2/&10./:(B !# 1251(0=@& )/( 02 ;*./>=-+()&* .2> (+& '(<( ;= 02 */(4 *60(.1&* .:98=> 6&* 02 &;-92.&*1&9(1 /&; <2+*; +0=<.'&8 9='=A"# '(<( 02 :&<2* 7*.-*<&1( '*0& .( 79(<&+&)/( =+(5& = M&0('29 & .(51(* <( 02 /* (98&/2'/( '*0& 02

-9*02'/*:(* 579(<=> *-92<2+&* .2 5( (98&/2'/=9=L, !CEH# J.( !Q 7*<&1(L .2 =-&.(* = _17+2.'& '*+2<K = Y*./*1= 7<2 .2 =-*51(* .( <2+*;JB*+&-( b.1( JM9(14=.'& '9&/&3(9 & M&+*5*M> &./*9&3(9 =;2/1*./&L & N*-(1&H(/( g3. 6/.0(> )/* 021( 1027( &5:9)&+* :2+&'& =/&4(0 J/= 02 5(:9)&* <:2 7*<&12 ./=<&0(L, -*/*; .2 =-&.(* 1( ?(.(3=.2/.'& &1./&/=/ /281*+*7&02 J1(0./(9&0& S98&/2'/*1.'& M('=+/2/ =S;29&4&L> 7<2 0( 1( '=9.= (98&/2'/=92 .(:+(<(* /281&3'( 51(10( & -*51(:(102 ./&+*:(> (+& :2@

-*.+2 7*<&1= <(1( 1(-=)/( ./=<&02 J029 ;= .2 1&02 <*-(* *69(5*:1& .&./2;L, !CEI# 5(-*.+&* .2 = ]&+(<2+M&0& '*< U/.1'( U./1.3( J\(+&:21 02 6&* 10&; *3(9(1> 029 02T-9(:&* 579(<2 &5 .:*02 7+(:2TL> -92'* '*7 .2 =-*51(* .( .(:92;21&; /*'*:&;( = _17+2.'*0 &]9(14=.'*0> R(.'&1*;> W&*+2,+2,Z&'*;> 9*;(1/&5;*;> ##A 56*7 2'*1*;.'2 <2-92.&02 & -(<(

-*9=<K6&1(> M&9;( ]2912. o [0=3&/> 6&+( 02 -9&;*9(1( <( */-=./& \(+&:21( 1('*1 12'*+&'*;2.24&, &./2 7*<&12> *<+(5& '*< 9*<&/2+0( '*0& .= .2 -92.2+&+& = %&'(7* J%&'(7* 02 -92 -*K(9( -9&:92<1*4:2/(*B 1(0:2@2 .:2/.'* /9K&)/2 K&/(> 1(0:2@& 421/(9 <9:12 &1<=./9&02 & 1(0:2@( '+(1&4( 02 /= 6&+(LA*<=)2:+021 02 79(<*; & 2=M*9&0*; :25(1*; 5( *61*:= -*.+2 -*K(9( &5 !CE!#> 5(-*)+0(:( .2'*< =>.1&0(> '9*5 3&0& 6&9* .= -9*)+& & Y(912;> R=/> [*+(629< & R*=3 J= /*0 .92<&1& \(+&:21=-*51(02 ZK*1( _<2+;(1(> ;21(<K29( ZK21&02:*7 6&9*( '*0& ;= 02 -*./(* ;21/*9# p./(+& .= =

:25& & '(<( 02 \(+&:21 */&)(* = a(9&5, !CED# *<+(5& = a(9&5 1( Eh5K*+. A.3 ?.(2a g/-3 J:*<2@& &1/2+2'/=(+1& 421/(9 = .:2/=L> 7<2 .2 -9&'+0=3=02 = T.+*6*<1& (/2+02T _;&+( W*<9;29(> -9&./(+&42 W&*+2,+2,Z&'( J'*0& 02 6&* -9&./(+&4(*61(:+0(10( 7*/&'2LA ;2P=/&;> -*.+2 .(;* 12'*+&'* ;2.24& 1(-=)/( ./=<&02 & *<+(5& = V/(+&0=JR&; & ]&9214( ,F 1( .(;* /9& <(1( *< 327( <:( -9*:*<& = \&'./&1.'*0 '(-2+& *<=)2:+021?&'2+(1P2+*:&; M92.'(;(LA = a(9&5= .2 6*+02 =-*51(* .( 2:*+=4&*1&./&3'*; /2*9&0*; '=+/=92q21( & /2'=@&; ./&+.'&; -92:&9(10&;( J9(5+*7 1(-=)/(10( X^_4*+2### -92;( \(+&:21= 6&* 02 =/*;2 )/* 02 -92<10(3&+( 49/(3'( :2)/&1( '*0( 02 <*1*.&+( .0(012 925=+/(/2> (+& 6&+( (-./9('/1( &:(1 ./:(91*./&L, = %&'(7*> \(+&:21 .2 :9(/&* !CEG# .( &1&4&9(1*; &<20*; * +&31*; '*142-/= (98&/2'/=92J51(3(0 X^_4*+2### .2 &-(' 12 ;*K2 5(12;(9&/& = 1027*:*; <2+=> ( 1(9*3&/* -92<(:(10( V-*+&/(

q21( , &./*9&3(9( =;2/1*./&> '*0( 02 .+=)(* & 3&/(* = a(9&5=L, = -29&*<= !CEG#,CH# 9(<&* 02 '*< 69*01&8 (98&/2'(/(

NE



!I# X=0 \(+&:21> !CGQ# , !N"E#

, 42+*7 K&:*/( .2 6*9&* -9*/&: ('(<2;&5;( & (98&/2'/=92 '*0= <&'/&9( ./&+L gA+./ & W(+&7.1 ,F 02<1( ./(9( .:2.'( '*0= 02 -*32* <( :*<& 1( q281*+*)'*; &1./&/=/= 7*:*9&'*02 .= .:2 /2;2 5(1&;(+2 \(+&:21(> ( /( .:2.'( 02 5(-9(:* &5:2)/(0 * ('/&:1*./&;( (/+2/.'*7'+=6( TX*/*.T 3&0& .= *.1&:(3& 6&+& & 69(@( \(+&:21A /= .= &5:2)/(0& * /(';&3210&;(> 925=+/(/&>/2+2.12 ;292> *6&; ;&)&@(> .'&42 7*+&8 ;*<2+(> ###> -9&+*5& &5 (98&/2'/=92 & *91(;21/&'2A S<+29

02 5(-(5&* \(+&:21( & -*:29&* ;= <2'*9(4&0= =1=/9()10*./& 421/9(+1*7 ;=5&3'*7 8*+(, !CCH# \(+&:21 -*3&102 <( 9(<& '*< S<+29(> ( !CCI# -*./(02 -=1*-9(:(1 *9/(' M&9;2 J.( .(;*"Q 7*<&1(LA *:(0 6&* 02 *< !CCH#,NG# &;(* -92'* !CH -*9=<K6&1(> -9& 32;= 02 IH j 6&+*

-9&:(/1&8 ./(;621&8 579(<(> "H j M(69&'( & .'+(<&)/( & .'*9* &./* /*+&'* -*.+*:1&8 579(<(> !Hj 9(5+&3&/&8 (=<&/*9&0=;( J-*5*9&)/( & 9(51&8 :9./( <:*9(1(L> ( *./(+* , -*02<&1(31& -9*02'/&8*/2+(> )'*+(> ./(1&4(> 49'(:(> 79*61&4(> 6&6+&*/2'(> '+=6*:(> ### b( -9*02'/&;( -*.+*:1&8579(<( & (=<&/*9&0=;( &.-*+021 02 .-*0 -9*02'/1&8 &1*:(4&0( & /281*+*)'&8 ;*7=@1*./&> 1(925&<214&0(;( & 79*61&4(;( .+*6*<( &59(5(> <*' .= M(69&'2 92)(:(12 =/&+&/(9&./&3'& J;1*7*;(10( .+*6*<( = &56*9= *6+&'(L, = <*6( 1(0:2@27 =.-28( S<+29 o \(+&:21> 5(-*)+0(:1(+& .= -92'* GH 49/(3( J;2P= '*0&;( 02

6&* & R(0/> '*0& 02 !CCC#,NI# 6&* <2.1( 9='( :*<2@27 /(1<2;(LA *< !CCN# -9*./*9&02 M&9;2 6&+2

.= 1( -*.+2<102; .-9(/= /*910( 579(<2 S=<&/*9&0=; J( = -*32/'= .= &;(+& '(142+(9&02 1( -*.+2<102; .-9(/= -9:2 S<+29*:2 -*.+*:12 579(<2L, S<+29 .2 6(:&* =7+(:1*; /281&3'*; & (<;&1&./9(/&:1*;> ( \(+&:21 T=;2/1&3'*;T ./9(1*;

-*.+(A 5( \(+&:21( 02 6&+( -&B&H1( A.'*/(-&71*3- &3-*H10(H'*@ -&B(!# g2A&-*/&2, N2&+A&1@9 !::S#L:[# ,F -*5*9&)/2> 8*/2+ & -*.+*:(102A .'=- -9*02'(/ J/9& ;&+&*1(<*+(9(L, S<+29 02 -*./&7(* :2+&'2 -&*1&9.'2 925=+/(/2 = *6+(./& ('=./&'2 <:*9(1(> -9&;21*; 1(=312/2*9&02 )'*/.'*7 M&5&3(9( J&1K21029(L R(.2+(A &1*:(4&02B .;(102102 5(-92;&12 -9&;21*;+2:'(./2 *.1*:2 '*0( .2 1(7+* .=K(:( '( -*5*91&4&> -*./2-21* &5<&5(102 -(9/29( -92;(R(.2+*:*; ;2/*<= JT&5*('=./&3'2 '9&:2TL> 129(<12 -*:9)&12 J(-.*9629& , <( .;(10& *<02'L =

6+&5&1& -*5*91&42 & 7+(/'2 J92M+2'/*9& , <( *;*7=@2 *<7*:(9(0=@& *<02'L> = 5(<102; <2+= .(+2>T*/:*921T 5(<10& 5&< 9(<& .-923(:(10( 12'*1/9*+&.(1*7 *<6&0(10( /(+(.( J(+& ('=./&3'& =.+*:& 5(*9'2./(9.'* &5:*P2102 & &5:*P2102 1( -*5*91&4& 6&/1* .2 9(5+&'=0= J( 579(<( .+=K& = *62 .:982L>

-( 02 S<+29 -92<:&<2* ;('.&;=; "GHH .2<&)/( 5( -*5*9&)12 -92<./(:2> ( 5(-92;&1( & 69*0.2<&)/( .2 .;(10=0= -*'92/1&; 2+2;21/&;( 1( *62 7(+29&02L, \(+&:21*:( <2'*9(4&0( 6&+( 02 =.+*:+021( *:&; ;1*7*69*01&; /281&3'&; 5(8/2:&;( J&125(8:(+1&; *6+&'*; & <&;215&0(;(L> (+& =.-2* 02 <( *602<&1& -9*./*9A -9*02'/1= )2;= .(=1=/9()10*./& -9212* 02 1( M(.(<2 J1( -9# '*< 579(<2 q9(1.-*9/20)1L -*5*91&4( 02 *&:&321(

-*5+(@21&; -(12+&;( 1( -+(M*1= +2:'(./*7 *6+&'(> .( !HH 2+# .&0(+&4(, 579(<( 02 &;(+( :2+&'& 51(3(0 & = /281&3'*; & = '*1./9='4&0.'*; .;&.+=A =1=/(9 -*+*:&12

6+*'( /926(+* 02 .;2./&/& :(9&0(6&+1= <:*9(1= J"GHH , EHHH ;2./(L .( .:&; ;*7=@&;

-9*./*9&;( & <:( 6*31( *602'/( .( -*.+*:1&; -9*./*9*; & 8*/2+*; J'=8&10( , -9:& -=/ -*<'9*:*;L> 2'./29&029 , 92<=4&9(1( R&3(9<.*1*:( 2./2/&'( .( ?(9)(+ ]&+< 6&+<&17(> .:2<21( 1( <&0(79(; J5( 9(5+&'=*< <*.+2<1&02 R=/*:2 -9&;212 1( R='29& 6&+<&17=L, B*3+*71. G@/(A.4 ,F 51(3(0B !# *:(-+*@2102 %&'()'2 )'*+2 (98&/2'/=92A "# 6*96( <( .2

-9*1(P= 92)210( '*0( &./&1.'& *<7*:(9(0= /281&3'&; &1*:(4&0(;(, I 79=-2B T12*793'2TA = R&3(9<.*1*:*; <=8=A *6+('*<29&, T12*793'2T 579(<2 , .;2)/212 = -*.+*:1*; 421/9= %&'(7(A *<+&'=02 &8 &./&4(102 :29/&'(+&/2/( &/9&-(9/&/1( -*<2+( ;(.2 -*-=/ '+(.&31*7 ./=6( 1( 6(5=> /2+* & '(-&/2+A *91(;21/ 02 ='+*1021 .(1*.2@&8 <2+*:( & &1/279&.(1 = 121*.2@2 -*:9)&12> 92+02M1*7 02 /&-( .( M+*9(+1&; ;*/&:&;(J\(+&:21*:( .'+*1*./ '( 27&-(/.'*0 & :&5(1/&0.'*0 <2'*9(4&0&LA -9&;29B

NC



!I# X=0 \(+&:21> !CGQ# , !N"E#

"# ?*/A.1 ?+*'9 !::^#, 579(<2 &1.-&9&.(12 R&3(9<.*1*:*; (98&/2'/=9*; J-*<&71=/2 12-*.92<1* -*.+2 S=<&/*9&0=;(L, 7+(/'* -*+&9(12 '(;212 M(.(<2 .( -*+='9=K1&; +='*:&;(> -*02<1*./(:+021( M*9;( &<2'*9(4&0( J8*;*721 6+*' J.(;* -*9/&4& 1251(/1* )/932 '(* -(12+& -*./(:+021& &.-92< 9(:1&5&<(L .( *)/9* =.2321&; */:*9&;(LA -9&;29&B

<# D*'./ F(239 !:::#L:[#9 =2+& ?+*'9 !:[^#L[!#i 3'+(A&)-. D*'./4 '*1./9='4&0( ./=6 , 792<(> 0(.1* 02 *<:*021( *< (9'(<( '*02 .2 &51(< 10&8 -9*/2K= '9*5 D .-9(/( J= -9&52;+0= & 1( -*.+2<102; .-9(/= &8 12;(L ,F 9&/;&31*./A *7*+021( 9=./&'(4&0( & *91(;219&'(, *6+('*<29&B]# ?(2(/A N2&+A&1@9 j.V k*/'9 !:[X#L[:#;# b/(13B*/-(-&*1 N2&+A&1@S#Y(&1V/&@F- N2&+A&1@9 W-# E*2&39 !:[^#L[!# ,F !H,.-9(/1&4( -9(:*+&1&0.'2 T*6+('*<29.'2T'*1./9='4&02 J.'9&:212L .( 5&<(1*; &.-=1*;A J\(+&:21 1&02 -9&./(* <( -9&;210=02 -*:9)1&&./*9&4&5(; & ;28(1&3'& /2;(/&5(;> &('* .= /* 3&1&+& *./(+& 3&'()'& (98&/2'/& '*;6&1=0=@&32+&31= '*1./9='4&0= .( 5&<,5(:2.*; .( &./*9&4&./&3'&; <2/(+0&;(> \(+&:21 02 -*;2)(* /9(<&4&0=& R&3(9<.*1(L

X# U/(-./1&-Q b.,B+.9 !:[!#:# l1&*1 b/23- N2&+A&1@9 !:["#L[<#[# 62(/(1-Q N2&+A&1@9 ?2ee(+*9 !:[]#L[S# ,F '*1./9='/&:1& *':&9 *< 32+&'( .( -9&3:9)@21*;M(.(<*; J-9:& -=/ =9(<&* W&+&0(; X2 Y(9*1 ZK21&> 1( 579(<& p.&7=9(:(0=@27 5(:*<( =%&'(7=LA '29(;&3'& 2+2;21/&A '*;6&1(4&0( ./&+*:(A M(.(<( *6+*K21( 49:21*; /29('*/*;> =<*102; <2+= *91(;21/&.(1(, *6+&'*:1& -9*6+2; .( 5&<,5(:2.*; \(+&:21 1&02 92)(:(* */'9&:(102; .'2+2/12 -9&9*<2 579(<2A1027*:( 92)210( .= :&5=2+1* ;(.&:1(> .( &59(K21*; /9&-(9/&/1*; -*<2+*; J6(5(> /9=-> '(-&/2+L, &59(K21&0( -9&;21( *91(;21/&'2 02 -9&.=/1(> 1(9*3&/* 1( 579(<& r(9(1/&, 2.20& C8/1(,.1- 2 (/F&-.'-2/&C9 !:["# & Cl,.-1&H'& B/&3-2B 7&3*'&, B*3+*71&,G@/(A(,(C9 !:[S#> -*.:2@21& .= =7+(:1*; *:*0 /2;(/&4&A \(+&:21 .;(/9( <( T92(+1* -*2/.'*

02<1&./:*T *6+&'( & M=1'4&02 -*3&:( 1( -9&;21& *91(;21/(4&02 -9&;29212 :9./& '*1./9='4&02A=/:9<&* 02 5('*1&/*./ M*9;=+2 <( T*6+&' =:2' -9(/& M=1'4&0=T> (+& /926( 9(5=;2/& \(+&:21*:*.8:(/(102 -*0;( M=1'4&02 '*0& *6=8:(/( & M&5&3'2 & .&;6*+&3'2 (.-2'/2 J*97(1.'* 1(32+* *'*825&0&L, /('* 02 & 1( *6+('*<29&;( M=1'4&0( .'9&:21(> (+& .2 &-(' *<9(K(:( 1( M(.(<& , =1=/9()10*./ .2

-9*02'/=02 1( .-*+0()1*./ .+&31* &59(5= +0=<.'*7 +&4(, !CN"# 9242.&0( =79*K(:( -*.+*:(102 M&9;2A !CNG# S<+29 .2 -*:+(3&> ( '*1/('/& &5;2P= S<+29( &\(+&:21( 5(8+(P=0= 56*7 \(+&:21*:*7 69&.(10( S<+29*:*7 &;21( .( -9*02'/( r(9(1/& 6&+<&17A]9(1' X*0< R(0/ 02 625=.-2)1* -*'=)(:(* <( &8 &5;&9&A &('* .= &;(+& 6&9*2 = &./*0 579(<&JS=<&/*9&0=;L> .+2<2@2 D 7*<&12 :9+* ;(+* '*1/('/&9(0= <* .;9/& S<+29( !NHH#A 69*0 -9*02'(/(

02 /*'*; /2 D 7*<&12 6&* &./&> (+& .= \(+&:21*:& :2@& & 51(3(01&0&, 3(,*3-(+1& /(A4, \(+&:21 J9*P21 !CGQ#> ( =;&92 !N"E#L ,F 32./* 02 9(<&* M(.(<2 ;1*7&8 *602'(/(, -9:& -29&*<> !CCN#,NH#B!^# 6(@. N2&+A&1@ , -9*02'(/ .= 5(-*32+& [*+(629< & R*=3> (+& 02 02<(1 <2* M(.(<2 =9(<&*\(+&:21A -9*02'(/ 02 51(3(0(1 029 <*3(9(:( 9(5+&3&/*./ <&92'/1*7 '*142-/( M(.(<2 [*+(629< kR*=3 & <2'*9(/&:&5;( \(+&:21( = -*/-=1* &./*; 9(./29=!!# WF+.3&1@./ _ T(Q./ =.B(/-,.1- W-*/. J9*61( '=@(L ,F J<(1(. i(9.*1> a&9& & \'*/L ,

02<1( *< 1(0:(K1&0&8 579(<( %&'()'2 )'*+2A =1=/9()10*./ 02 '*1:214&*1(+1(> (+& .-*+0()10*./ =3:9./*0 ;92K& 8*9&5*1/(+( & :29/&'(+( *<&)2 &59(5&/*; ;*<291*)@=, = /* :92;2 \(+&:21 ./&32 .:2 :2@& =7+2<> 1027*:2 M(.(<2 .= 1027*: 5()/&/1& 51(' J/(<( S<+29

1&02 &;(* 1&'(':*7 -*.+(L

NN



!I# X=0 \(+&:21> !CGQ# , !N"E#

, = 3(./ *.1&:(10( W(7.G( (/F&-.'(-( g,./&'.9 !:[[#> \(+&:21 02 1(-&.(* 2.20 CW(7/.,.1(e(G( (/F&-.'-2/.C> 3&0& 02 .(<9K(0 -*./(* /2;2+0 *:2 *97(1&5(4&02A ;2P=/&;> =695* 02 1(-&.(*.29&0= -*+2;&'( -9*/&: (98&/2'/*1.'*7 *69(5*:(10(> 2'+2'/&4&5;(> -9& 32;= .= 1(9*3&/*1(-(<1=/& (98&/2'/& .( V./*312 *6(+2> =/&4(01& = \(:25=> /('* <( *./(02 625 -*<9)'2 J*:& 3+(14&&5+(5&+& .= -*< 5(02<1&3'&; 1(5&:*; C?/N+0(10( &G A.H&0.@ 7/-&\(C> = -*32/'= = =/&4(01*;

3&'()'*; 3(.*-&.= V1+(1< S948&/24/> ( <*41&02 .= &71*9&.(1&L, *:(0 -9*M2.&*1(+1& -92*'92/ *7+2<(* .2 & 1( -9&:(/1*; -+(1= J!CNN# .2 *K21&* "H 7*<&1(;+(P*; K21*;# s( !H 7*<&1( 69(31& -(9 02 -9*;21&* E (-(9/;(1( +='.=51&8 8*/2+(A -*12'*+&'* ;2.24& 7*<&)102 6*9(:&+& .= = :&'21<&4&# n21( 7( 1(-=)/( 56*7 (+'*8*+&3(9.'&8&.-(<(# p1 -9*<(02 .:*0= =;2/1&3'= 56&9'= & 6&6+&*/2'=> '(* & :&'21<&4=A 1(./(10=02 .2 = .*6&*.92<1027 8*/2+( 7<2 6*9(:& <* .;9/&L, =-9'*. -*.+*:1&; & -9&:(/1&; -9*6+2;&;( 1&02 .2 -92<(:(*# R(<&02 6& &57=6&* -*.(*> 127*1(3&1&* '*;-9*;&. = *./:(9&:(10= .:*0&8 &<20(> 3(' & = /&; & M&1(1.&0.'& /2)'&; :92;21&;(, <9=7& -29&*<> !CNG#,!N"D#B, \(+&:21 02 <*6&* ='=-1* GQ 1(9=<K6&1(> = *-(<(0=@2; 9&/;= & =5 .;(102102 :2+&3&12*602'(/(A *< !NHE# 9(<& .(;* &5:(1 %&'(7(A :2@&; <2+*;> /* .= -*.+*:12 579(<2 J*< IH

-*9=321&8 &579(P21* 02 *'* !GL = /9(<&4&0& S<+29 k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h -92M(69'*:(1= '29(;&'=LA -9&;29&B!"# 6/&11.+9 T./KF(1-h3 j(-&*1(+### ,F '*< *:2 6(1'2 *91(;21/ 02 = :&<= &.-92-+2/(1*7 9(;('*0& *'9=K=02 -9*5*9 &51(< 7+(:1*7 =+(5(> .'9&:( ;28(1&5(; 5( '(;29= &+& 5('+0=3(:(102, \(+&:21 02 02<1= *< .:*0&8 6(1('( 1(5:(* T'=/&0*; 5( 1('&/TA ;2P=*<1*. =1=/9()1027 &.-*+0()1027B =.(7+()21*./ .-*+0()1027 ='9(.( & :92<1*./& -92<;2/( '*0& .2 =1=/9( 3=:(0=, -9*02'/*:(* 02> -92 *:2 -*.+2<102 M(52 6(1('(> -*9*<&312 79*61&42, '10&7( CW&3-., (/F&-.'-*13'. */1(,.1-&'. 2 3'+(A2 3( e&+*G*e&0*, +02A3'. ,*\&C ,F.(<9K& "H .+=K621&8 49/2K( .( '*;21/(9&;(> '*0& 9(50()10(:(0= \(+&:21*: '*142-/ TM=1'4&02T ,M=1'4&02 '(* =1&:295(+12 .&+2 -9&.=/12 = .:&; ./:(9&;( '*0( .:*0 &59(5 /9(K& = *6+&'=, *89(6921 -9&0(/2+0&;(> \(+&:21 *60(:+0=02 & '10&7= Cg2-*N&*@/(e&0( 0.A1. &A.0.C , -9&3= *.:*; K&:*/= J1(0-92 = 3(.*-&.= (;29&3'*7 &1./&/=/( (98&/2'/=92> ( !N"D# & '(* '10&7(LA(=/*6&*79(M&0( '*0= 02 1(-&.(* .( QG 7*<&1( 02 -&.(1( = /92@2; +&4=> & .(;* 02<1* *< !G

-*7+(:+0( JC/.-/*3B.'-&7(CL 6(:& .2 5+(/1&; <*6*; 3&'()'2 (98&/2'/=92 J& T5+*; .92@*;T 1(.:2/.'*0 &5+*K6& = %&'(7= !CNI# 7*<&12LA ;2P=/&;> = -*.92<1*; .;&.+=> 42+( '10&7( 02 -*.:2@21( (98&/2'/=9& , /* 02 \(+&:21*:( M&+*5*M&0( (98&/2'/=92 -92;( '*0*0 .2 .(: 1021 9(5:*0*<:&0( = .'+(<*; .( TM=1<(;21/(+1*; 21297&0*; =;2/1&'(T , *6+&' 579(<2 &59(5 02 *:221297&02L (=/*6&*79(M&0(B :&)2 *< -*+( '10&72 7*:*9& * .:*; <2/&10./:=> .:2 <* !G 7*<&12> '(<( .2=-&.(* 1( p<.2' 5( (98&/2'/=9= 1( /281*+*)'*; &1./&/=/= <9K(:2 ?(.(3=.2/.# b(7+* -92'&<(.:*0= K&:*/1= -9&3= = /921=/'= '(<( -*./(02 -(9/129 S<+29( & '(<( ;= .2 */:*9&+( ;*7=@1*./:2+&'2 '(9&0292, W7.-3'( &G+*>N( 2 %&'(@2 &G !:[<# Pm*+2,N&03'( &G+*>N(R ,F B/*B2)-.1( B/&+&'( %&'()'.)'*+. PC@/*N1&K( ,*A./1. (/F&-.'-2/.CR

, *97(1&5(/*9 O2-A -*5:(* 02 !H M&9;&A *79(1&3210( .= 6&+& 6(521&

!HH



!I# X=0 \(+&:21> !CGQ# , !N"E#

, 1(4&*1(+1( -9*.+(:( DHH 7*<&1( i*+=;6*:*7 */'9&@( S;29&'2 J!DN"#L = *6+&'=;2P=1(9*<12 &5+*K62A 421/9(+1& -9*./*9 JT.:23(1* <:*9&)/2TL /926(+* 02 <( 6=<2 *'9=K21*(;29&3'&; 2'.-*1(/&;(, 1( &5+*K6& 02 =;2./* %&'()'2 )'*+2> /9&0=;M*:(* ('(<2;&5(; J'+(.&4&5&9(12 579(<2L .(V./*312 *6(+2> *51(3&:)& -*32/(' ('(<2;.'2 *61*:2 = S;29&4&A =59*4& .= :2*;( .+*K21&> (

02<(1 *< 10&8 02 & 12-9&-92;+021*./ 3&'()'&8 (98&/2'(/( 5( /&-*+*)'2 5(8/2:2 &5+*K62!<# `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

-9*./*92 = _:9*-&L ,F J&57+2<(+* 02 '(* <( \(+&:21 1&)/( 1&02 1(=3&* * =-*/926& ;2/(+( & ./('+( =&579(<10& K2+251&3'&8 ./(1&4(> /9K1&4(> 8(+(> ###A -*.+2 *:2 &5+*K62 \(+&:21 7=6& -9*02'/2L, *:( &5+*K6( 925=+/&9(+( 02 ;&/*; <( 02 S;29&'( -9*-=./&+( -9&+&'= <( M*9;=+&)2 (=/21/&3(1(98&/2'/*1.'& ./&+ 1( *.1*:(;( 1(-92<1*7 9*;(1/&5;( %&'()'2 )'*+2A &./&1( 02> ;2P=/&;> <( 1&

= '9&+= %&'()'2 )'*+2 1&02 6&+* <*:*+01* -*/214&0(+( <( .2 .:& -*./(:+021& -9*6+2;& .(:+(<(0=A'(* & = 6&*+*)'*; *-./(1'= & *:<2 02 -9(:&+* 6&+*B T-9&+(7*<& .2 &+& &5=;9&T> )/* -*<9(5=;2:(&+& 721&0(+1*./ <( 6& .2 *-./(+* & -*62<&+& .=-(91&4&> &+& M+2'.&6&+1*./ '*0( *;*7=@=02

-9&+(7*P(:(102, -*.+2 &5+*K62 ,F \(+&:21*:& -9*02'/&B J& 12'& :2@ -*;21=/& *6+('*<29&L!]# %&'()'( N./G(9 !:[;#> .9=)21( !NE"#, *./(+( .(;* =+(51( '(-&0(, -* -9:& -=/ '*9&)@21& '2.*1& 5( M=1<&9(102 -*.+*:12 579(<2> <=6&1( "G ; J'2.*1& , '=6=.5:*1(./*7 *6+&'( '*02 .2 '*9&./& 5( M=1<&9(102 = :*<21&; .92<&1(;(L, 792)'2 \(+&:21(B !# 1(-(< 1( *69(5*:(102A "# 1(-(< 1( .+2<621&'2A I# K21&<6(

!H!



!D# S9/ b*=:2(=A W&'/*9 p9/(

!]# g/- j*27.(2i D&'-*/ 8/-(

L g/- j*27.(2 l 1*:( =;2/1*./ , 1(0=.-2)1&0& '(* ./&+ =1=/9()1027 =92P210(A -(9&)'& ./&+J\:2/.'( &5+*K6(> a(9&5> !NHH# , ;1*7& 1(4&*1(+1& -(:&+0*1&L ,F NH,/2 7*<&12 UVU :# <*12+2 .=.:2/= <:2 1*:&12B 6&*.'*- & S9/ b*=:2(=> '*02 .= &1<&92'/1* -*:25(12 029 .= 1(./(+2 &5 &./&8

-92/-*./(:'& & .( .+&31&; 4&+02:&;(, -9&<2: 1*=:2(= J;*<291> 0=721<L l -*+2;&3'* *<6(4&:(102 9(:1*/2K2 &5;2P= /9(<&4&*1(+1*7./&+.'*7 92-29/*(9( & /281&'( 79(P210( 1( '*0&; .2 <* /(<( 5(.1&:(+( 2:9*-.'( =;2/1&3'('=+/=9(, S9/ b*=:2(= 02 =;2/1&3'& -*'92/ 1(./(* )&9*; _:9*-2 *'* !CNH#A :25(1 02 1(9*3&/* 5( *6+(./

-9&;21021&8 =;2/1*./& J<2'*9(4&0(L, *B)-. *A+&'.4 -*'921=/*./ J'(* -*'92/12 .+&'2 ,F .+&'2 .( M&+;*;L> <&1(;&5(; J=/&4(0 9(5:*0(.(*69(@(0(> <*./&71=@(> /281*+*)'& 1(-92<('L> (-./9('4&0(> *-.2<1=/*./ 9(.-*+*K210&;(:25(1&; 5( .;21= :2'*:(A :25( .( .+&'(9./:*; /*7( -29&*<( Jq=+=5 X*/92'> _<=(9< ?=1'>r=./(: i+&;/LB <&1(;&31( +&12(91*./ J&79(3&4( X=( ]=+29 .:*0&; :&9/=*51&; '*:&/+(102;

8(+0&12 6&+( 02 &1.-&9(4&0( ;1*7&; =;2/1&4&;(A Y2+7&0(B '9(+0 X2*-*+< VV J2'.421/9&'L & DH7*<&1( ;+(P( &79(3&4( ,F .-*0 +2-*/2 & ;*@&L, 1(051(3(01&0( =+*7( = ./:(9(10= -*'92/( ,F p9/(> W2+<2, <:*.;&.+21*./ -*0(:2B =.+2< 12.'+(<( &5;2P= =;2/1&3'&8 1(./*0(10( <( .2 -92<;2/&;( <(&59(K(0(1 *6+&' & /281*+*)'*7 1(-92/'( '*0& 02 1(:*<&* 1( M=1'4&*1(+1*./A 2./2/'2 '*92'/&:12;292> ./:*9212 <( .2 .=-9*/./(:2 /281*+*7&0&> <2+*:(+2 .= *.:2K(:(0=@2, 9=31& 9(< J'(* ;2P=-9*./*9 &5;2P= &1<=./9&02 & =;2/1*./&L *<9K(* .2 .(;* = *6+(./& .'=-2>2'.'+=5&:12 9*62> ( /2K10( :2@&12 (1/&4&-(/*9( & ('/29( -*'92/( 6&+( 02 92)(:(102 <9=)/:21&8

-9*6+2;( '9*5 =;2/1&3'* 5(1(/./:*> )/* 02 &59(5&/* '*1/9(:2951* J-*)/* .= .2 .;(/9(+& -*.+2<10*; *<69(1*; &1<&:&<=(+1*7 5(1(/./:( -92< .=9*:&; .:2/*; /281*+*7&02> 5(1(/+&0(;( 02 +2-* -9&./(0(* .1/&;21/(+1* , 7=6&/1&3'& ./&+

, W&+&0(; ?*9&. 02 6&* 1(07+(.1&0& 5(7*:*91&' =;2/1*./& & 5(1(/( JS9/. (1< f9(M/.L -*'92/(> (+& 02 &./* /('* -9:& -9&51(* 10&8*:= =5(+=<1*./ <( 6=<= .92<./:* 5( 92M*9;&.(102 <9=)/:(, G1(H(0 g/- j*27.(24 6&* 02 12'( :9./( 92M+2'.12 92('4&02 =;2/1&'( 1( 5(+(K2102 /281*+*7&02= ;(.*:12 -9*<='4&02 1( /9(<&4&*1(+1= /29&/*9&0= =;2/1*./&A 5( 9(5+&'= *< &./*9&4&5;( '*0& 02

-9&5&:(* -9*)+*./> S9/ b*=:2(= 02 -9*;*:&.(* &1/292.2 =;2/1&'( -*'=)(02; *.:(0(10( *6+(./& -9*&5:*<1*7 <&5(01(A /0# -*'=)(0( <( .2 *< 2'*1*;.'2 -*/9262 1(-9(:& 2./2/.'* &.'=./:*, = b2;(3'*0 , Tc=721<./&+T *51(3(:( 3&/(: 1&5 1(;29(A 12;( .(;* =;2/1&3'= '*1*/(4&0=>:2@ 02 & .=729&.(* -*:9(/(' -9&9*<1*; 1(3&1= K&:*/(> -9&9*<& =*-)/2 & ;+(<(+(3'*; &<2(+&5;=J0=<21<./&+ l ;+(<*./L, = _17+2.'*0> 1(5&:(* .2 M9(14=.'&; &;21*;> ;*K<(> 5(/* )/* /= 1&02 1()(* -+*<1* /+*A =]9(14=.'*0 , 217+2.'&; &;21*; ?*<291 ./d+2> = V/(+&0& , +&629/d & T4:2/1& ./&+T

, = :98=1.'&; <2+&;( *:*7 -*'92/( =*3(:( .2 -*:25(1*./ M=1'4&*1(+1*7> '*1./9='/&:1*7 &<2'*9(/&:1*7 (.-2'/(, -9&./(+&42 S9/ b*=:2(=B W# ?*9&.> S# :(1 <2 W2+<2 J02<&1& '*0& 02 *3=:(* <*.+2<1*./L> W&'/*9p9/(, =-*/926( ;2/(+( 02 6&+( '(9('/29&./&31( 5( (98&/2'/=9=> -9&-(<1&'2 S9/ b*=:2(= NH,/&8 7*<&1(UVU :#> ( &1&4&9(1( S0M2+*; & :2+&'&; &1K21029.'&; '*1./9='4&0(;(, =/&4(0 W&*+2,+2,Z&'(, = &+=./9(4&0(;( 5( <2+* T_1/921/&21.###T W&*+2,+2,Z&' ='(5=02 1(;*7=@1*./& '*1./9='4&0.'*79(4&*1(+&5;(A .;(/9( <( 02 7+(:1*1(32+* (98&/2'/=92 &.'921*./ -92;( -9*79(;= & &./&1&/*./'*1./9='4&02A -*92< /*7( *1 5(./=-( -*:9(/(' 927&*1(+1*; 79(P2:&1(9./:=, S9/ b*=:2(= l 1*:( =;2/1*./ ,F '(* -92+(51& -29&*< &5;2P= TV./*9&4&5;(T & T?*<291*7

-*'92/(Tt Y2+7&0( , 1(051(3(01&0( =+*7( = ./:(9(10= *:*7 -9(:4( ,F p9/(> :(1 <2 W2+<2> ###

!H"



!D# S9/ b*=:2(=A W&'/*9 p9/(

t u-(1&0( ,F r(=<& ,F *91(;21/& = '*:(1*; 7:*KP= 5( '(-&0= -(9'( r=2+0> *79(<2 6(+'*1(> ###t V/(+&0( JT+&629/dTL ,F M+*92(+2 ./&+t _17+2.'( JTS9/. (1< f9(M/.T , =;2/1*./ & 5(1(/./:*L ,F ?2'&1/*)t ]9(14=.'( ,F (98# r&;(9 , -9*02'/& ./(1&4( ;2/9*(t S=./9&0( J.242.&0(L ,F W(7129> [*M;(1

t b2;(3'( Jc=721<./&+L ,F [(1. a2+4&7t [*+(1<&0( ,F [# a# Y29+(72, 5(02<1&3'* 5( .:2B -9&;21( *91(;21/(+1*7 ./&+( = (98&/2'/*1.'*; &59(K(:(10=, Y2+7&0( ,F /= 02 -*'92/ 1(./(* & <*6&* 1(5&: S9/ b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

, <*-9&1*. = 9(5:*0= 1*:&8 (98&/2'/*1.'&8 &<20( & *6*7(@&:(10= (98&/2'/*1.'*7 9231&'(A (+& 1&02<(+( *.1*:2 5( ./:(9(102 02<12 1*:2 (98&/2'/=92 029 .2 &.=:&)2 =.;29&+( 1( *91(;21/(4&0=

L D&'-*/ 8/-( PD&K-*/ M*/-(R9 !:S!# L ![]X# ,F 6(9*1> :&9/=*5(1 = -92-+&/(10= 2+2;21(/('*1./9='4&02 & <2'*9(4&02, 5(-*32* S9/ b*=:2(= = Y9&.2+=> ( 5()/*> 12 51( .2A *< !CCG#,N"# p9/( 1&02 -*<&5(* 579(<2A =/*; -29&*<= -9*=3(:( /2*9&0= & -9*02'/2 W&*+2,+2,Z&'( )/* 7( 02 *89(69&+* <( .2 *<+=3& 5(*/:*921= =-*/926= 7:*KP( & '*;6&1(4&0= .( 5&<(1&; 2+2;21/&;(> '(<( 02 5(&./( 5(-*32* .(79(P2102;, Y9&.2+ JY2+7&0(LB )&9*'& 6=+2:(9&> 2+27(1/1& -(9'*:&A 6*7(/& K&:2 = 7*9102; 79(<=> 5(1(/.'2

-*9*<&42 = 421/9=A 421/(9 =;2/1*./& '9(02; UVU :#, ('=;=+(4&0( &1<=./9&0.'*7 6*7(/./:(A 5(*'=-+021*./ &<21/&/2/*; J;=+/&2/1&3'( 5(02<1&4(L ,/2K10( 5( 1(4&*1(+1&; ./&+*; 1( /2;2+0&;( +*'(+1*7 79(<&/2+0./:( = *-24&, =/&4(0&B W&*+2,+2,Z&'> K2+251&3'2 '*1./9='4&02A 9*'*'* J=-9*)@21LA W# Y+20 J.+&'(9LA *9&021/ ,c(-(1A ='9(.12 )(92 5( /(-2/2 & /2'./&+A W# ?*9&. , (17+*,0(-(1.'( .*6(A -*./&;-92.&*1&./&, A.+( D&'-*/( 8/-.4!# '2\( b(3.+9 !:["#> 5( 12K210= JM*/*79(M & -9*M2.*9 1(49/12L .( -=1* -9&0(/2+0( 5( -9&02;2 ,F

-9:* 592+* <*6(A -*32/(' 1*:2 ;*<2 ,F =:2* 02 217+2.'2 /(-2/2 &5;2P= :&<+0&:&8 ;2/(+1&82+2;21(/( 1( 5&<*:&;( /9-25(9&02, /9*.-9(/1( 79(<.'( '=@( = 1&5> =.'*7 -9*32+0(A =-*/926( '*1./9='/&:1*7 7:*KP( J-9:& -=/ =./(;621*0 (98&/2'/=9&L '(* :&<+0&:*7 ;(/29&0(+(> T:9-3(./(T ;2/(+1( <2'*9(4&0( J1(9*3&/* =

./2-21&)1*; 8*+= J1(+&' 1( 79(12 & +*5=L = .'+(<= .( -*<1&; ;*5(&'*;L, M(.(<(B <&.'92/1* &.'(5&:(102 .'2+2/( J+&12(912 '9&:=+02LA )&9*'& 29'29 -9*5*9&A 521&/1* .:2/+*A)(92 1( -*<= & 5&<= l 6&+01& ;*/&:&, -+(1B */:*921& -+(1A -(9&.'( M*9;=+( &5 UWVV :#, S9/ b*=:2(= 02 *:<2 -9&.=/1&0& J92-92521/(/&:1& 8*+L :&)2 127* = .:&; <2+&;( W&'/*9( p9/2"# '2\( U/&G*19 !:[<#L[]# ,F 5( ;+(<*7 (<:*'(/(A :2*;( .+&31( JM9*1/ C ;A I .-9(/(L<# '2\( 83-/&' ,F -9:( ./(;621( 579(<( '*0= 02 p9/( -9*02'/*:(* = 1*:*; ./&+=A <2/(+0&:&/9(K(A *91(;21/&'( 9=<&;21/(91(A G 1&:*(]# G@/(A( T&3&1@./ ,F -=1* <2/(+0(A (.&;2/9&31( M(.(<(;# B(+(-( W*+7.9 !:[;#L[S# ,F 120'*;-+2/1&0( *< .:&8 p9/&1&8 925&<214&0(+1&8 5<(10( J'(.1&02

-92/:*921( = ;*<1= '=@=L

!HI



!D# S9/ b*=:2(=A W&'/*9 p9/(

, 79(P21( 5( .+(:1*7 82;&3(9( \*+:2( .( +(6*9(/*9&0*;A -+(./&31(> )&9*'( M(.(<( , 5&<*:& .2&5:&0(0= = -*+02 '( 6*31&; 29'29&;(A 29'29& .= =7+(:1*; = ./('+=> .( ;2/(+1&; 9(./29*;A<2'*9(/&:12 7:*5<212 *79(<2, =1=/9()10*./B :&<1( ;2/(+1( '*1./9='4&0(> 9(59(P21& <2/(+0& J+=./29 1( -9#> *79(<(> ./2-21&)/(L>(-./9('/1& 7:*5<21& ='9(.& '*0& (.*4&9(0= 1( M+*9(+1& .:2/A 1(;2)/(0 , p9/&1 <&5(01

, * >&7*-24, 9*P21 = r21/= !CQ!# ,F 5(-*32* ./=<&02 (98&/2'/=92 1( S'(<2;&0& = r21/= !CEQ#> ( 1(./(:&*1( S'(<2;&0& <2. Y2(=` S9/. J'(.1&02 -*./(* <&92'/*9 !N!I#L = Y9&.2+=A 6&* -*< *<+=3=0=@&;=/&4(02; W&*+2,+2,Z&'( J& 7*/&'2 , '(;21*925(3'( /9(<&4&0(> -29M2'4&0( = '(;21=L, */(4 , ;(+& *6=@(9 &5 Y9&.2+(B *< 1027( 02 1(.+2<&* *.2@(0 5( =;2/1&3'= -924&51*./A =3&*;=5&3'= )'*+=> -( 1(-=./&* ,F 6&* & 49/(3> .+*6*<1& 5&<(9A =;2/1&3'& K&: .(;* !G 7*<&1(A =;9*.'*9* 12-*51(/, :*<2@( M&7=9( '*1/&121/(+1*7 S9/ b*=:2(=> '92(/*9 *9&7&1(+1*7 9231&'( *91(;21/(A -*1=<&*

02 1&5 1*:&8 -9*02'/(1/.'&8 92)210( & -*'(5(* ;*7=@1*./& (98&/2'/*1.'2 2'.-92.&02 5( 1*:279(<&/2+0.'2 -9*79(;2> = .'+(<= .( .*4&0(+1&; & '=+/=91&; =.+*:&;( <*6(A 9(5:&* 02 1&5./9='/=9(+1&8 & '*1./9='/&:1&8 92)210(> -*.261* = *6+(./& -9&;212 J<*69* -*51(02 *.*6&12

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

-*<.2@( 1( +(+=A =*-)/2> 2+27(1/1( <2'*9(/&:1( -9&;21( <2'*9(/&:1&8 2+2;21(/(X# 7+(3-&-( '2\(9 !:[:# ,F .( (/2+02*; '(* <:2 .-*0212 579(<2> M=1'4&*1(+1* -*<2+0212> '(* &M(.(<2> (+& <*69( =1=/9()10( -*:25(1*./ *<(02 =/&.(' 42+&12, &;(* 02 *'* DH 7*<&1(A <*:*+01* 6*7(/ <( &5:2<2 .*-./:21= '=@= J.(<( ;=520 W# p#L, '(* & '*< b(9*<1*7 <*;(> & '*< .:*02 =@2 p9/( 02 &;(* /2)'*@( <( -*:2K2 <2/(+02 *<'+2.(1*7 '(;21( .( 9(<*; = ;2/(+=A -926*7(/ (98&/2'/*1.'& 9231&' ,F <* -29M2'4&02A <2/(+0&B9='*8:(/&> *79(<2> 1(;2)/(0> :&/9(K> ./('+212 -9279(<2, *:( 79=-( '=@( -92<./(:+0( 9(59(<= .&1/('.2 '=@2 q(.2+ J& 0*) 12'*+&'* '=@(B D&1./9 A7. J=

10&;( 02 p9/( ./(1*:(*L 2 g,./&H'*0 2+&K&9 8N.' J.( *.;*=7(*1*; <12:1*; .*6*;>&.42-(* -9*02'(/L 2 3-&+2 g/- j*27.(2> ( *12 '*02 .= =.+2<&+2 -*.+2> 2+27(1/12 & =5<9K(12'=@2 5( ?('.( S+2(> 6&+2 .= .=:*-(91*7 & M*9;(+1*7 &57+2<( , 1& /9(7( *< S9/ b*=:2(=> '=@(W&129 J!N!N#L , -*.+2<10(:# '2\( =&N*([# /*N1( '2\( C'*A &1*7(K&0.C9 ![^!# ,F =1&)/21( = -*K(9= !NQE# J/2' /(< 02 -*./(+( :&<+0&:(&5=52/1( ;2/(+1( '*1./9='4&0(L, -92<10( ./9(1( .(.:&; = ;2/(+= & ./('+=> .(;* 02 *':&9 *< 79(1&/(A 92)2102 M(.(<2 = 9(:1&, <9=72 '*;294&0(+12 579(<2 W&'/*9( p9/2 JTW*'2T &5 !NHI# & TW*+M29.T &5 !NHQ#L> ;1*7* .==5<9K(1&02 J:&)2 '*1./9='/&:12 -9&9*<2 .( ;1*7* ;(102 *91(;21(/(> ( ;2/(+1& <2+*:& 1&.=:&<+0&:&L

!^# B.- /*N1&F '2\(9 ![^!#L^[# ,F T'*< &1*:(4&02TA Tr9(1< 6(5(9T> ]9(1'M=9/A Tr9(1< 6(5(9T>Y9&.2+A TW*'2T> Y9&.2+ J<(1(. ;=520 .+&'(LA TW*+M29.T> !NHN# J3=:21( 5(1(/.'( -*9*<&4(L

!HD



!D# S9/ b*=:2(=A W&'/*9 p9/(

, '(31&0( A.+(4!!# `(+(-( +.B&F 2,.-1*3-&9 ![":# ,F 92<=4&9(1 6=<K2/ J= -9&52;+0= 9(<102 , <( .2 &5<9K(:(*602'(/L!"# 6+(71( >.+.G1&H'( 3-(1&K( 2 ?/&3.+2 ,F 6(1(+1(> 625 <2/(+0(A 1&.= -* (98&/2'/*1.'*;<*;2/= 1& 6+&5 579(<( -*<&71=/&8 *'* !NHH#

!<# ?*+1&K( ?/2F,(1 ,F 5(-*32/( -92< 9(/> ( 5(:9)21( !N"I# 7*<&12A 5( .92<10&> .&9*;()1&.+*0> 02<1*./(:1*./> .:2 02 1&.'*!]# T2G.0 2,.-1*3-& ,F -(K+0&:*> (+& 625 .1(72!;# W-(1*7& G( 3&/*,()1.9 ![^S# ,F *7*+0212 M(.(<2!S# j(/*A1& A*,9 !:[S#L[[# J.9=)21 02 !NQE# -*/-=1* 12*-9(:<(1*> ( "G ;&+&*1( M9(1('( 02/* ;*7+* <( .-923&> (+& .2 1&02 1()+*L ,F 1( 3=<1*0 -(942+& , *6+&' '*0& 02 p9/( ;('.&;(+1*&.'*9&./&*A -9:& 0(:1& *602'(/, *:* 02 1(0:(K1&02 <2+* W&'/*9( p9/2A M&1(1.&0.'( -*;*@ *< \*+:2(, -*<&71=/ 02 '(* .2<&)/2 62+7&0.'2 R(<1&3'2 -(9/&02 J:&)2 92M*9;(/*9.'( 127* 92:*+=4&*1(91(L>.*4&0(+&./&3'2 92M*9;&./&3'2 ./9(1'2 3&0& 02 4&+0 6&* <9=)/:21( 2;(14&-(4&0( 9(<1&'(A ./9(1'( 02*.1&:(+( *:2 <*;*:2> 12 .(;* 9(<& .(./(1('( 9(<1&3'&8 *97(1&5(4&0(> :2@ & 9(<& 9(51&8 <9=7&8

('/&:1*./& , .*+&<(91*./&> '=+/=92> 5(6(:2 J'=-&+& -+(4 3=<1*7 *6+&'( & (17(K*:(+& 1(0.'=-+027 62+7&0.'*7 (98&/2'/= , p9/=L, -9*79(; 02 *6=8:(/(* (<;&1&./9(/&:12 -9*./*9&02> .2<&)/2 9(<1&3'2 5(<9=72> '(M2/29&0=> :&)2;(10&8 & 02<1( *79*;1( :&)21(;21.'( .(+( J.(./214&> -9*.+(:2> '=+/=9(> *69(5*:(102L, p9/( 02 9(<&* *'* N ;2.24& 1( -92+&;&1(91*; -9*02'/=> ( !G 49/(3( 02 0*) 7*<&1= & -* 9(<&+*&5:*P(3'2 49/2K2A -9*02'(/ 02 6&* :2*;( <2/(+0(1A -*:9)&1( -(-&9( 1( '*; 02 6&* 1(49/(1

-9*02'(/ 02<1('( 02 -*:9)&1& :2+&'*7 /97( = Y9&.2+= J!k" ';" l EG 9*+1&L, 79(<10( 02 -*32+( '9(02; !CNG#> (+& 02 :&)2 -=/( 5(./(0(+(> -( 02 -9*02'(/ <*K&:2* &5;212J12<*./(/4& ;(/29&0(+(> -9*)&92102 -(942+2LA 9(<*:2 .= &5:*<&+2 9(<1&3'2 5(1(/.'2 5(<9=72J<*69*:*+01& 9(< 9(<1&'( , 5(1(/+&0(A =-9'*. 51(/1*0 -9&;21& ;(/29&0(+(> 421( -* ;" & 1&02 6&+(:2+&'(, '(<( 02 */:*921( 1( =.'9. !CNN#> 579(<( 02 &5(5:(+( .215(4&0= 56*7 -9*.:2/+021*./&> .1(K1*7&59(5( & .+&31*> (+& 6&+* 02 & 127(/&:1&8 92('4&0(, '*.1&02 02 579(<( :&)2 -=/( <*79(P&:(1( -92M(96(:(1( & .+&31*> ( <( (=/*9 1&02 '*1.=+/*:(1A1( '9(0= 02 579(<( & -*92< -9*/2./( 69*01&8 2;&121/1&8 (98&/2'(/(> .9=)21( !NQD# J&5=96(1&./&3'&8 9(5+*7(LA p9/( 02 = 02<1*; 5(-&.= -92<.'(5(* 1021= .=<6&1=, (/F&-.'-*13'( e*/,(4, 12-9(:&+1( -(942+(> ;('.&;(+1* &.'*9&)@21(> <2+*; *'* .27;21/( 02<1*7 '9=K1*7 /97(> (<2+*; <=K <:2 9(<&0(+12 =+&42A .-*+0()10& 5&< , :&<1& 32+&31& '*./=9 J.-(0(102 '*1./9='/&:1*7 &<2'*9(/&:1*7L = '*;6&1(4&0& .( *-2'*; & '+2.(1&; '(;21*;A = =1=/9()10*./&> /('*P2>*/:*921( '*1./9='4&0(> .( M+=&<1*; &59(K(01*)@=

, =+(5B 7:*5<21& &.-(<> :2+&'* -92<:*902 & ;(+& 8*+ )/* :*<& <* ./2-21&)/(> ./2-21&)/2 02 /('*P2&1/292.(1/1* 92)21*, ;1*)/:* ;(/29&0(+(> 625 -92/29&:(10( = <2/(+0&;(> *<(02 =/&.(' =5:&)212 (98&/2'/=92 J)/* .2

-*'+(-( .( 1(-92<1&; 8=;(1&/(91&; <=8*; 5(<9=7(9./:(L, '(M2/29&0( J/926(+( 02 <( .+=K& & '(* .(+( 5( <2;*1./9(4&02L = -9&52;+0= , :2+&'& 12-9(:&+1&*'/(7*1 J<=6&12 "" ;> )&9&12 !C ; & :&.&12 -9&6+&K1* C ;LA :&<1& 32+&31& 1*.(3&> :25(1& .('(;21&; 5&<*:&;( J1(06*+02 92)2102 -9*K&;(10( 7:*KP( & '(;21( 5( '*0&; 02 12-92./(1*/9(7(*L> '*0& &.'(5=0= M*9;*; ./(/&3'= =+*7=A /(:(1&4( J'*1./9='4&0( <&0(7*1(+1&8 +&1&0( ,F

-*<2+( 1( ':(<9(/2 G ; -=/( G ;L -*<.2@( 1( 7*/&'=, :2+&'( <:*9(1( J(=<&/*9&0=; , !GHH *.*6( ,F /926(+( 02 1(0-92 <( 6=<2 1( <9=7*; .-9(/=> (+&

02 -*<&71=/( 1( :&)2 56*7 *.:2/+021*./& & /29(.2L , = -*/'9*:+0=A '( 10*0 .= :*<&+( <:(

./2-21&)/(A 02<1&; <2+*; 02 T+26<2+(T 1(< <:*9&)/2;A <&;215&02 GQ ; -=/( !Q ;> 8l!H ;A :9+*.;2* 21/29&029 .( :&<1&; 32+&31&; 2+2;21/&;( '9*:12 '*1./9='4&02 J+('2 '9*:12 92)2/'2 .(

!HG



!D# S9/ b*=:2(=A W&'/*9 p9/(

5(/27(;(L> '*0( (.*4&9( 1( =1=/9()10*./ .:2;&9.'*7 69*<(A -(<*; -*<( *62562P212 .= :&5=92J5(/(+(.(1( /(:(1&4(L & ('=./&'(> ( <12:1* .:2/+* :&.*'&; 6*31&; -9*5*9&;(A 6*31* .= 6&+2<:2 '*15*+12 7(+29&02 .( <2'*9(/&:1*; *79(<*;A -9*./*9 (=<&/*9&0=;( 02 5(/:*921 &5;2P='*1./9='/&:1*7 *':&9(> ./('+*; &+& /(1'&; -(12+&;( &5;2P= ;2/(+1&8 9(;*:( J.+&31* 5&<,5(:2.&L

, 02<(1 &1K21029 = 2'&-& 1(-9(:&* 02 79)'=> -( 02 p9/( 6&* -9&;*9(1 <( =;2/12 :2+&'2 792<2 = -*< /92@27 .-9(/( 3&;2 02 1(9=)21( '*1./9='/&:1( 9(:1*/2K(> (+& .= &-(' *:<2 '*1./9='/&:1& -9*6+2;& 92)21& 1( 2M&'(.1&0& 1(3&1 127* 1( 6&+* '*0*0 1027*:*0 '(.1&0*0 579(<&, 5(:9)1( *69(<(B ;(102 &./(13(1( = -*92P210= .( -9*02'/&;( 6*7(/2 '+&021/2+2, p9/( 02 /2K&* 02<1*./(:1*./& = 79(<10&> 12;( *12 &./(13(1*./& '(* = -9&:(/1&; -(+(/(;(> (+& 025(/* *./:(9&* (29*<&1(;&31*./ & =/&.(' .1(72 & .=)/&1.'2 -*:25(1*./& .( 1(4&*1(+1*;(98&/2'/*1.'*; /9(<&4&0*;# n2+2* 02 <( *./:(9& '*1/&1=&/2/ 9(5+&3&/&8 M(.(<( '*02 7+2<(0= 1( /97& <:2 6*312 =+&42> (+& & <( *12 *<9(K(:(0= =1=/9()10& 9(.-*92<# q(3'2 -92:*0( M(.(<( &;(+2 .=*<+=3=0=@= =+*7=, &5=52/1( .;2+*./ = <2/(+0&;(B &56(4&:(102 6(+'*1(> 7:*5<21& ./=6*:& .( +2+=0(:&;<2'*9(4&0(;( 1( :98=> 9='*8:(/ *79(<2 1( '9*:= 12 -9(/& 02<1*./(:1* .-*+0()102 &:&42 579(<2A

<=7(3(' 6(+'*1 3&/(:*; <=K&1*; M(.(<2 , 1027*:( *79(<( 02 6+(7* '*1:2'.1*7 *6+&'(> ='*1/9(./= .( '*1'(:1&; '*15*+(;( J*79(<( 02 *< '*:(1*7 7:*KP(> <&1(;&31(> .(&1/292.(1/1&; .-&9(+(;(

!HQ



!G# %(9+. R21& ?2'&1/*)

!;# %(/+3 O.1& T.'&1-*)

L %(/+3 O.1& T.'&1-*) PcF(/+.3 O.11&. T(K'&1-*3FR9 !:S:# L ![":# ,F 1(012<*'=3&:&0&=;2/1&' 1( -92+(5= <:( :2'(, r+(57*: Ju'*/.'(L, /&-&3(1 9(5:*0 &1<=./9&0.'*7 79(<(B -*./(02 :(K(1 421/(9 /2)'2 &1<=./9&02 J32+&'> -(912 ;()&12>K2+251&3'( *-92;(> 69*<*79(<10(L & /97*:(3'& +=3'& 421/(9A = 2'*1*;.'*; -*7+2<=> &56&* 021( <9=7* ;2./* = W2+&'*0 Y9&/(1&0&> &5( X*1<*1( J56*7 -*'92/(10( -(;=312 &1<=./9&02 -*./(027+(:1& /(';(4 ?(132./29=L, -*+&/&3'& J-9&8:(@21* 02 :2'*:1* *-&9(102 -*&./*:2@210= .( _17+2.'*;> (+& .92<&1*; UVU :#>

0(:+0(0= .2 1*:2 /2K102 '( (=/*1*;&0&LB .1(K(1 1(4&*1(+&./&3'& -*'92/ .( .2-(9(/&./&3'&;4&+02:&;( J1(4&*1(+1* =<9=K2102 5( *<69(1= )'*/.'&8 -9(:(L, =;2/1&3'&B 79(< J/&-&3(1 :&'/*9&0(1.'&B -92<=52/1&3'&> K&:(8(1> 12;&+*.9<(1 & 9=K(1L 625(98&/2'/*1.'&8 ':(+&/2/(A :(K1*B :25( .( c(-(1*; -92'* /97*:&12 *<('+2 -9&./&K= J-9&+&:275*/&312 9*62 .( Z(+2'*7 &./*'(L 9(51*:9.1& -92<;2/& 5( .:('*<12:1= =-*/926=A 51(3(0(1 02

& =/&4(0 M9(14=.'*7 &;-92.&*1&5;( & .&;6*+&5;(, :25( .( c(-(1*; 1&02 .2 *<1*.&+( .(;* 1( -92<;2/2 5( .:('*<12:1= =-*/926= , 9(5(9(3& &'9./(9&42 '*0& .= <*12+& -*62<= = 9=.'* , 0(-(1.'*; 9(/=> 6&+& .= .(79(P21& = r+(57*:=, 79(< 02 <*K&:2* 1(-92<('> (+& .= 1027*:& 6*7(/()& 6&+& .'*9*02:&@& 625 ='=.(A .&9*;()/:* .(<9=72 ./9(12 02 6&+* 12;&1*:1*> -*0(:( (+'*8*+&5;(, C6+(G@*73'( H.-7*/'(C ,F .&;6&*5( 0(-(1.'*7 & )'*/.'*7, %(/+3 O.1& T.'&1-*) J'9(/'( '(9&029(> 12;(9(1 = '*9&)@210= /(+21/( J'(* p+69&8LL &T(/@(/.- T.'A*1(+A, M./N./- T.'1./ & U/(13&3 T.'A*1(+A J/(+21/*:(1&0( 02 *< ?(97(92/L, 69(31& -(9*:& ,F K212 .= 6&+2 5(<=K212 5( <2'*9(/&:1= ./9(1=> ( ;=K2:& 5( ./9(1= &579(<102, ?(97(92/ ?2'<*1(+< & ]9(1.&. ?2'<*1(+< J.2./92L ,F 10&8*:( <2'*9(4&0( J9(5<9(7(1(>

;()/*:&/(> :2.2+(> +2-9)(:(L &('* 5(1&;+0&:( 6&+( 6& ;(+* 51(3(01( :(1 (98&/2'/*1.'*7'*1/2'./(, 1( .262 .'92@= ;2P=1(9*<1= -(K10= '(<( .= !CNQ# = X*1<*1= &5+*K&+& .:*02 9(12 9(<*:2 1(&5+*K6& Z9=)/:( S9/. (1< f9(M/ J127(/&:1( '9&/&'( .+=K621*7 '9&/&3(9( i9201(L, ?2'&1/*) 02 6&* :*<2@( +&31*./ 79=-2A 695* 02 9(5:&* *.*621 '=6&31& ./&+ JM*9;&9( -9*./*9 &

-9*./*912 2+2;21/2 *< -9(:*=7(*1&8 *6+&'(A '(* = 0(-(1.'*0 =;2/1*./& , '*9&./& -*:9)&1.'&*91(;21/A :2+&'*; :2)/&1*; -*:25&:(* 02 2+2;21/2 & -*02<&1(312 <2+*:2A 32./* 1(7+()(:(.(;* -*02<&12 2+2;21/2 (98&/2'/*1.'*7 .'+*-( &+& 1(;2)/(0(A 6&* 02 -9&./(+&4( .*+&<1*./& =79(P210= J:29*:(* 02 = '(;21> ( 7:*KP2 & ./('+* 1&02 :*+2* 56*7 12<*./(/'( ;(.&:1*./& ,R(.'&1*: /9(<&4&*1(+&5(;LA 6&* 02 :2*;( -*< =/&4(02; W*0.&02:2 (98&/2'/=92 & X2/(6&02:*7.&;6*+&5;(> /9(K2@& :25= -9('/&4&5;( S9/. (1< f9(M/ -*'92/( & '2+/.'*7 ;&./&4&5;(

, -92-+&/(102 79(4&*51&8 & ;(.&:1&8 *6+&'( , '(9('/29&./&'( 3&/(:*7 *-=.( %# R# ?2'&1/*)( ,;(+& -9*5*9& = ;(.&:1*; 5&<=> /(1'2 &:&42 )&9*'&8 *9;(9(> :&.*'& 1(.+*1& ./*+&4(> 02<1*./(:1&5&<*:&> .&@=)1& <2/(+0& '*0& .2 7=62 = :2+&'&; -*:9)&1(;(, = ;+(<*./& 02 &57+2<(* '(* /&-&3(1 =;2/1&' , 6*2;A 9(.'*)1*7 /(+21/( *6&31&8> +2-&8 49/( +&4('*02 -92 *<(02 *.*6= '*0( .2 -*:+(3& 127* 6*94(# ?*K<( .2 5(/* *.2@(* =:2' '(* <2* /&;(#?(97(92/ 02 6&+( 12)/* ./(9&0( & ;*K<( 5(/* 1027*: *.+*1(4> &57+2<(+( 02 21297&31*> .=-9*/1*2/29&31&; +&'*:&;( '*02 02 .+&'(+(# q=K1* 02 )/* 02 ?2'&1/*) -*.+2 69&+&0(1/1*7 -*32/'( 695*

-(* = 5(6*9(: & *< !NHC# 7*/*:* 1&)/( 1&02 9(<&*, *91(;21/&'( .2./(9( ?2'<*1(+< M&7=9(+1&0( 02 *< ?2'&1/*)2:2 (98&/2'/*1&'2A '(9('/29&)2 02+&12(91*./> 6+&.'( Y+20'=> Y29<*+&0= &+& q*9*-= & .&;6*+&5(; &5 <2+( ?2/29+&1'( & a*.2/&0( &'2+/.'*7 ;&./&4&5;(A 32./* .= ;*/&:& &5<=K212> 12K12 +0=<.'2 M&7=92A -9&;21021& .= 1(

1(;2)/(0=> /(-2/(;(> /(-&.29&0(;(> ;2/(+=> ;*5(&'=A <&0(79(;.'( (1(+*7&0( *:&8 ;*/&:( 02=-9(:* :29/&'(+&/2/ '=6&312 /2'/*1&'2 ?2'&1/*)(

!HE



!G# %(9+. R21& ?2'&1/*)

, 6*02B 1(;2)/(0 62* &+& &59(5&/* /(;(1A <2'*9 = -(./2+1&; /*1*:&;( J9=K&3(./> .&:> .:2/+*52+21LA 21/29&029& , 62+& .( 6*021&; <2/(+0&;(, (98&/2'/*1.'( <2+(B!# 6+(G@*73'( 2,.-1&H'( )'*+(9 !:[S# L ![^[# ,F -9:( M(5( !CNQ#,NN#A <9=7( M(5( !NHE#,HN#,F 5(-(<1( M(.(<(> 6&6+&*/2'(> 21/29&029A U/.13&3 j02N./& ,F -*;*7(* &; <( <*6&0= *:(0 -*.(*

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

-29(32 -9*5*9(LA .+=K621& -9&./=- J.:9.&.8*<1*./ & -*2/&31*./L & = .*-./:21*; ./(1=B .:('&<2/(+0 9(59(P21 .( *<92P21*; .:98*; , 2+2'/9* '(6+*:& -92<./(:+0(0= *91(;21/(91='(9('/29&./&'= /(:(1&42, 7+(:1( ;(.( 02 .( 5(<102 ./9(12 <*-=1021( -*;*@1&; -9*./*9&;( J;=520 & <:*2/(K1(

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

-9*./*9&0= J( 12 .(;* &:&31*0 -*-=/ +&0(1( = <K=17+&L, 21/29&029 6&6+&*/2'2 J./9*7 & 72*;2/9&0.'&L , /(;1* <9:*> T0(-(1.'(T '*1./9='4&*1( (9/&'=+(4&0(, (1/&4&-(4&0( S9/ Z24*,(, @+(G@*73'& B/*0.'-&4"# < H(0A>&1&K.9 !:[X# L ![^S# P1(0-*51(/&0(B Y&++*V b.(L/**,3R ,F :98=1(4 S9/ b*=:2(=A

62+& 79(1<&*51& 21/29&029&A -+(./&31( 62+( M(.(<(<# 7+(3-&-& 3-(19 ![^^# ,F 9(5<*6+02 +0=6&3(./*7 & .92691*7 .( *9&7&1(+1&; *91(;21/&;( 1( 62+*0

-*<+*5&A 2+2'/9* '(6+*:& , *91(;21/(+1( '(9('/29&./&'( /(:(1&42 J:29*:(/1* 1&.= ;*7+& &@&&.-*< ;(+/29( = &51(0;+021*; ./(1= h *./(+& 2+2;21/& 21/29&029( l 6(0'*:&/ -9&5*9A ./(1 02

=92P21 -92;( -9*02'/= 5( T'=@= +0=6&/2+0( =;2/1*./&T 7<2 .= ./*+&42 .( :&.*'&; 1(.+*1*;/926(+2 ./(0(/& 1(.-9(;1* 5( <=7(3'&; /9-25(9&0.'&; ./*+*;> '9=/2 T'(* +0=6(:1&4& 1( -9:*;.(./(1'=TL, *:& -9*02'/& *<+&'=0= .2 62+&; 5&<*:&;( .( *97(1.'*; *91(;21/(4&0*;> 79(4&*51*)@=>3=:21&; ./*+&4(;( .( :&.*'&; 1(.+*1*;]# '/2>1( '*1K./-1( F(+( G( ]^^^ +02A&9 !:[:# ,F 12&5:2<21 -9*02'(/ 5( &5+*K6= !NH!#, p.;( &5+*K6( .242.&02 = Y23= !NHH# J=/&4(0 S9/ b*=:2(=L;# 3*N( J<*6&+( -9&51(102L 2 3'+*B2 )'*-3'*@ *A.+0.10( &G+*>N.S# ,2G&H'& 3(+*1 G( U/&K( D./1A*/e./(9 ![^"#> 02<1*7 *< *.1&:(3( T623'2 9(<&*1&42TJ.=*.1&:(3 c# [*M;(1L, ?2P=1(9*<1( &5+*K6( = q*9&1=> !NH"# ,F -*32/(' '9(0( S9/ b*=:2(=

, '=@2 -*< =/&4(02; W*0.&0( = )'*/.'*0 -9*:&14&0& J./&+ T6(9*1&(+T> .-(0(102 *91(;21/(+1* h12579(-1*L

!HC



!G# %(9+. R21& ?2'&1/*)

X# '2\( M&++ P'=@( 1( 69<=R9 M.+.13N2/@9 ![^"#L^<#:# '2\( Y&1AQ M&++9 m+&,(F*+,9 !:[[# L ![^!#, 5( E# & C# ,F 10&8*:( .-*+0()10*./ 02 6+&.'( +*'(+1*0 /9(<&4&0&> ( =1=/9()10*./ 02 *<(:(+( :2@=<&.4&-+&1=A .215=(+12 +&1&02 *:<2 .= =./=-&+2 ;2./* 12)/* *)/9&0&; *69&.&;( )/* 02 ='(5&:(+* 1(/* <( ?2'&1/*)2:2 :&5&02 &;(0= 6=<=@1*./ J-9&;29 02 <9=7( M(5( r+(57*:.'2 )'*+2L

[# 1.&G7.A.1( C'2\( +02N&-.+0( 2,.-1*3-&C J<9=7( 1(79(<(> (+& ;*9(+1& -*62<1&'L, 1(0:(K1&0& -9*02'(/ =5 r+(57*:.'= )'*+=A *:* 02 6&* -9*02'(/ 5( 5(/:*921& '*1'=9. '*0& 02 ==(/,)-(-2 ![^!# *97(1&5*:(* g+.'3(1A(/ m*FA 1&02 1(79(P21 J029 i*8 1&02 *<*69(:(*1('+*1*./ 623'*; ./&+= J?2'&1/*)L 029 02 =;2/1&3'( '*+*1&0( /2' *.1*:(1( = Z(9;)/(/=L> (+& 02<(+2'*.2K(1 , -92;()=02 W*0.&02: /9(<&4&*1(+1& ;*<2+A *./:(921 02 7*/*:* '=6&3'& -+(./&4&/2/A<:2 +*17&/=<&1(+12 ;(.2 3&12 *.1*: '*;-*5&4&02A -*:9)&12 .= 9(:12> .( ;2./&;&31&;*91(;21/(+1&; 92+02M*; & M&1* -9*-*94&*1&.(1&; -9*5*9&;(A *:(0 -9*02'(/ 02 :29*:(/1* =/&4(*1( M*e,(1( & -9*02'(/ `(+(&3 W-*K'+.- 2 ?/&3.+2 &G ![^;#, ?2'&1/*) -*.+2 !NHC# J1027*:( .+(:( 02 &1(32 *< -*32/'( 6&+( :2@( = _:9*-& 127* 1( p./9:=L<*6&0( .:2 ;(102 -*9=<K6&1( & -(<( = 5(6*9(:> <2+*; 56*7 ;(+*7 /9K&)/(> <2+*; 56*7 +&31&8

-9*6+2;( = '*02 02 5(-(* J(+'*8*+&5(;LA 12'& *< 92/'&8 1027*:&8 9(<*:( = /*; -29&*<=

='(5=0= <( 02 9(.-*+(7(* 0*) =:2' :2+&'*; '92(/&:1*; & :&5&*1(9.'*; .1(7*;> '*0( 02 1(K(+*./> *./(+( 12&.'*9&)@21(, Tr+(57*:.'( 32/:*9'(T ,F -*32/('t !CND# -*32+( .2 6(:&/& =1=/9()10&; =92P2102; , 3(.*-&. Tq82 ./=<&*Tt !CNG# &5+*K6( ./=<21/.'&8 9(<*:( = X&027=t !CNQ# &5+*K&+& 9(12 9(<*:2 1( &5+*K6& S9/. (1< f9(M/ = X*1<*1=t !CNE# 9(1& .('9(+1& *602'/& , 49':(> u'*/.'( , i:&1.'9*. 49':(, ?2'&1/*) ,F '9(0t !N!D# .2+2 .2 = _17+2.'= ,F -*3&102 .2 6(:&/& .+&'(9./:*;t !N!D#,!C# <&5(01&9( .(/*:2> 1(;2)/(0 & -+('(/2 5( ?(3.-LE*2'.(t !N!Q# , -*.+2<10& 9(< 5( ?(3.-LE*2'.( l S9/ Z24* ,F ;(+( '=@( = 1&5= J92'*1./9='4&0(L>[*9/2;-/*1A 9(.'*)1& 21/29&029&, !N"D# *<+(5& = ]9(14=.'= J.+&'(9./:*L, !N"E# , 6*+1&4(> _17+2.'( J9(' 025&'(L, !N"C# , =;&92, !NII# , =;&92 ?(97(92/, .:( 5(*./(:)/&1( &5+*K21( = r+(57*:=, !NEH# , &5+*K62 7( .-()(:(0= *< 5(6*9(:(

!HN



!Q# S1/*1&* r(=<&

!S# g1-*1&* 6(2A&

L g1-*1&* 6(2A& Q c*/1.-9 !:;"# L !["S# ,F 1027*:( =;2/1*./ 12 ;*K2 .2 .:2./& 1( *6&;'10&72 &+& M*/*79(M&02A *1( .2 ;*9( +&31* <*K&:2/&B "H,/(' 7*<&1( ./(9&0& *< `+.H1&'(A ./:*9&*12-*1*:+0&:( <2+(> ('/&:(1 <* .;9/&> 12K210(> 625 =321&'(A 1(0'92(/&:1&0& & 1(0:2@& i(/(+*1(4, 2-&K(0&4!# '(/*+&4&5(; J49':( 02 -*<9K(:(+( '(/(+*1.'& .2-(9(/&5(;L g T'(/(+*1.'( 9212.(1.(T"# '(/(+*1.'& 1(4&*1(+&5(; gI# =;2921& .*4&0(+&5(;D# 7*/.'( 79(<&/2+0.'( /9(<&4&0(G# ;(:(9.'*,&.+(;.'( 79(<&/2+0.'( /9(<&4&0( g ;2<&/29(1.'& =/&4(0Q# +*'(+1( 1(9*<1( (98&/2'/=9( gE# '+(.&31( /9(<&4&0( J=/2;2+021( = (98&/2'/*1.'*; *69(5*:(10= = Y(9.2+*1&LC# ./9='/=9(+1& 9(4&*1(+&5(; W&*+2,+2,Z&'(N# R(.'&1> R&8(9< W(7129

!H# S9/ b*=:2(= , T?*<291&.;*T J1( i(/(+*1.'*;L , /2K10( 5( ./:(9(102; 1*:&8 *6+&'(&59(K(:(10(, r(=<& , -9:& -*./;*<291& (98&/2'/(A .+=K&* .2 &./*:92;21* .( -2/ 9(5+&3&/&8 (98&/2'/*1.'&8

025&'(A -*'=)(* <( *61*:& 7*/.'= (98&/2'/=9= , -*.+2<10& 7*/.'& (98&/2'/(A M(1/(./&3(1 *.2@(0 5('*1./9='4&0= '*0( 1&02 '9=/(> 9(5:&0( .2 -*-=/ ./(6+( JT'(/(+*1.'( 7*/&'(T , :9+* ':(+&/2/1(L, .+&31*./ .( a+231&'*;B :2+&'( .-*.*61*./ '92&9(10( *6+&'(A .-24&M&31* '*9&)@2102 ;(/29&0(+(A*.2@(0 5( <2'*9(4&0= & 6*0=A 12*6&31& '*1./9='4&0.'& &5=;&A ;(0./*9.'& '*9&./& -9*./*9> 6*0=>.:2/+*./, Y(9.2+*1( ,F r(=<&A Y29+&1 ,F u&1'2+A X0=6+0(1( ,F a+231&', i(/(+*1&0( , -*+&/&3'( & 2'*1*;.'( <*;&1(4&0( = u-(1&0&# _'*1*;.'( ;*@ 1(9=3&+(4( 02:&<+0&:( , /* r(=<& '*9&./& J6*7(/2 ;24212LA 4:2/( 12*7*/&'( , '+0=31& +&'*:1& &59(5 '*0& .2

9(5:&* = S9/ b*=:2(= J?*<291&.;*L, >&7*-4 9*P21 !CG"# = R=2.=> i(/(+*1&0( = .'9*;1*0 5(1(/+&0.'*0 -*9*<&4&> */(4 , '*/+(9 ,F'*:(3 6('9( J*< *4( 1(.+2<&* M&1*@= *69(<2LA 9(1* *./(02 625 ;(0'2> ( '(.1&02 =;&9= & 69(/+2'(9 & .2./9(> -( -92=5&;( 69&7= 1(< *42; & .2./9&3&1*; J*6*02 .= K&:2+& .( 10&; = Y(9.2+*1&LA*./(* 02 12K210( J.+(6*7 5<9(:+0(L ,F 6&+( ;= 02 =.'9(@21( 9(<*./ -*9*<&31*7 K&:*/(, )'*+= 02 -*8(P(* = R=2.=> ( (98&/2'/=9= = Y(9.2+*1& !CQN# , !CEC# J6&* 02 .+(6 ./=<21/LA./=<&9(* 02 <=7* JC 7*<&1(L 029 .2 &5<9K(:(* -9*02'/&;( :(1 )'*+2> *;2+( 7( 02 & :*01(*6(:25(> ( & &1/292.*:(* .2 =7+(:1*; .(;* 5( -92<(:(10( &5 M&+*5*M&02 & 2./2/&'2J12'*1:214&*1(+(1> ;(+* 0*7=1(./ ./=<21/ ,F :&)2 02 :*+2* -9('.= *< /2*9&02LA &-('>5(8:(+0=0=@& 9(<= = (/2+02&;( 51(3(01&8 6(9.2+*1.'&8 79(<&/2+0(> :2@ = /9(0(10= <&-+*;&9(10(

6&* 02 92+(/&:1* (M&9;&.(1A J-* 1027*:&; )'*+.'&; 9(<*:&;( 12 6& .2 ;*7+( 1(.+=/&/& *1( :2+&'(

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r(=<& -9*02'/*:(* !CNC# , !NHC#> '(<( -*3&102 79(<10(B 5(:9)21( 02 02<&1* '9&-/(> 029 .= *6+&' &./9='/=9( 6&+& 12:29*:(/1* .+*K21&A r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`(/' 62.+09 ![^^#L!]# J<(1(. 79(<.'& -(9' .( <:( 6&5(91( *602'/( 1( =+(5= 5( -9*<(0==+(51&4(> -=6+&'(4&0(L ,F r=2+0 '=-=02 *7+2<1* &;(102 1( .2:291&; *69*14&;( 7*+*7 69<(&51(< Y(9.2+*12> 7<2 02 8/2* <( *./:(9& :9/1* 1(.2+02 217+2.'*7 /&-(A .(5&<(12 .= .;* /9& '=@2J( -+(1&9(1* & *62562P21* -9&6+&K1* QH -(942+( /9*=7(*1*7 *6+&'(L> (+& -9*02'(/ 02 51(3(0(1 .(=96(1&./&3'*7 ./(1*:&)/(, =+(5B 7+(:1& =+(5 .( <:2 12*6&312 '=@&42A =+(51* ./2-21&)/2 -*+(5& -*92< <:2 M*1/(12 J'*02

-92<./(:+0(0= 5;&0= & *79*;1*7 7=)/29(L <* 1(<.:*P21*7 /97( JT/9K1& 8*+TL , /97 , -&0(4(, -(9' 02 12*6&31* -9*K&;(102 -9&9*<1&8 692K=+0('( & r(=<&02:&8 .29-21/&1( J.29-21/&1.'27(+29&02 .+&31&8 a+231&'=L> :&0(<='(/( 32./* 1( :&)2 1&:*(> 1*)21&8 '*.&; ./=6*:&;(> '*0&='(5=0= 1( r(=<&02:* .8:(/(102 (98&/2'/=92 '(* ;2/(;*9M*52 -9&9*<1&8 *6+&'( JTY*K&0((98&/2'/=9( 12;( 1& 02<1= -9(:= +&1&0=T> '(K2 r(=<&LA '*.& ./=6*:& '*9&)@21& = -(9'= :(K1( .=*.*6&1( & '(.1&0&8 r(=<&02:&8 <2+( , 10&;( 02 -9&8:(/(* 6*312 -*/&.'2> &5627(:(0=@& 7*/.'2

-*/-*912 +='*:2 JT)/('2T , '*1/9(M*92 02 /('* 5:(*> ;952* &8LA = -(9'= .2 1(+(5& 1(<.:*P21&

/97 1( ./* -.2=<*<*9.'&8 ./=6*:(> &51(< '*7( 02 T793'*T */:*921* -*5*9&)/2 J*'* '*7 .2*6(:&0( 5;&0(./( '29(;&3'( '+=-(LA .:*< .2 .(./*0& *< ;92K2 (9;&9(1*62/*1.'&8 792<( J02<&1& -=/ <( 7( 02 r(=<& '*9&./&* & /(1'&8 -+*3&4( '*02 02 = ;*5(&'= *69(<&* r(=<&02: -*;*@1&'[=8*+ J'98*/&12 '29(;&'2 & ./('+(LA ./=6*:& .= = .92<&1& )=-+0&> -=)/(0=@& :*<= '( 4&./291& 5(1(:*<10(:(102A 1( 1(0:&)*0 /(3'& Ta(9'(T .( '*02 .2 -9=K( M(1/(./&3(1 -*7+2< 1( ?2<&/29(1>/926(+( 02 6&/& '(-2+( & <K&1*:.'& '9./ J=*6&3(021 7+(:1& 1(7+(.(' = r(=<&02:&; <2+&;(L, r(=<& 02 K2+2* <( .( 02<12 ./9(12 6=<2 12*6&3(1 & 9(5&79(1> ( .( <9=72 <( ./:*9& (98&/2'/=9='*0( .2 12@2 .=-9*/./(:&/& a9&9*<&> :2@ @2 02 <*-=10(:(/&# O -(9'= .= =K&:(+& 1( -9# 1(<92(+&./&J\(+:(<*9 Z(+&L, '2\. B*A 2-&K(0., g/- j*27.(2 &G `(/&G( L '(-(+*13'& T*A./1&3,* & 6(2A&4!X# m2\( m(+7.-9 !:[:# L ![^]# J= .:*02 :92;2 .:9./(1( 02 = )-(1.'& '(.1& 6(9*'L ,F -9&+&31*

'*1:214&*1(+1( 79(P2:&1(> 1( 3&0*0 M(.(<& .2 ;2)(0= M+=&<1& 9*'*'* & S9/ b*=:2(= ;*/&:&J-=1* .&;6*+&'2LA = =1=/9()10*./& J;*/&:& 1(+&' 1( :272/(4&0= & 5(/(+(.(1 '(;21 ,F (.*4&9(

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!Q# S1/*1&* r(=<&

6=0(102 a9&9*<2L , +&M/ & ./2-21&)/2> 1(;2)/(0 ,F =/&4(0 S9/ b*=:2(= 02 :&<1&0&# b(0'*1529:(/&:1&0( 1027*:( 79(P2:&1( ,F <*6&* 02 .:*0= 02<&1= *-)/&1.'= 1(79(<=, 1*:* 5( 1027( 02B =79(P21( 579(<(> 5(*6+021& 5(6(/&> .;&921( M(.(<(> <:( :2+&'( h 32/9& :2+&'(./(1(> T5:2'&9T 1( =+(5= 02 :() '*0( .2 =<(9( J.&;6*+&'(L J:() '*0( =6&0( :()L!:# m2\( ?(-+*9 ![^;#L^X# J= 7+(:1*0 =+&4&> 92;*<2+*:(12 ./(92 579(<2 '*0( 02 /= 6&+( J02<1(

*< 1(0<*.(<1&0&8L> ( 1&02 6&+( -92<:&P21( 5( 9=)2102L ,F *97(1.'* , .'2+2/1& &57+2< <*1027 <2+(579(<2> 7*910& <2* M(.(<2 , .0(012 -+*3&42 J6*0( .2 ;210( '9*5 .-9(/*:2 , <&0(7*1(+1* .( -92+&:&;( <=7&1&8 6*0(LA 6(+'*1& *< '*:(1*7 7:*KP( J'(* 7125<(L &57+2<*; .2 :25=0= 5(<*10& <2* 579(<2A 5(/(+(.(1 '9*: .( J12&5*./(:1& '9./ :&.*'* &51(<L '=-*+(./*; '=+&4*;A *-)/&T:*<21(./T J-21(> M*.&+&> '9+0=)/&L =/&.(' -*<9K(:( 02 & -+(:* , 62+&; -*-+*3(:(102; -92<:*90(JT-21=)(:* ;*92 -92'* '*-121&8 <2+*:(TL & =1=/9()10*./ <:*9&)/( J<*' .= /(:(1 & .:2/+(91&'./9*7* *97(1&5*:(1& & <2+=0= .(6+(.1*LA .'=+-/*9(+(1 1(;2)/(0, <2+=02 '(* <( (98&/2'/=9( 1( .:2 1(3&12 &5627(:( -9(:2 +&1&02A .:2 02 -*'921=/*A .(:9)21./:*<2/(+0(> &5:*P210(> *6+&'*:(10(> ###, *.+*6*<&* .2 &./*9&4&5;(A 1(0'92(/&:1&0& /921=/4&A 1(9=3&+(4B [*52 Y(/+*> i(5(1*:( ,&1<=./9&0(+(4A 6*02 21/29&029(B -+(:&3(./2> 52+21'(./2A '9*:B -9(&./*9&0.'& 92-/&+> 9&6+0( '9+0=)/>

1*72 .+*1(> +2P( <&1*.(=9=.(> ### (.*4*0(4&02 9(51&8 +0=<&![# m2\( T&+( PE( `.A/./(R9 ![^;#L!^# Jf(.( ?&+( , -*.+2<10& -9*M(1& *602'(/ l '(;21*+*;L,F *97(1*;*9M1( J+&3& 1( 9='*; /:*921= -+(1&1=L> ;2<&/29(1.'(> (.*4&0(/&:1( (98&/2'/=9(>

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r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

02 = -*32/'= +&3&* 1( '=@= Y(/+*> (+& 0= 02 r(=<& ;210(* /*'*; 79(<102A &5()(* ! ; = -9*./*9J)/* /(<( 1&02 6&+* <*-=)/21*L

, '2\( ?(-+* & '2\( T&+( -*'(5=0= &59(5&/* *6+&'*:12 & .=)/&1.'2 9(5+&'2 = *<1*.= 1(2:9*-.'& S9/ b*=:2(= '*0& .2 *:<2 0(:+0( 1(0:&)2 = [=8*+*:&; ='9(.&;(A r(=<& .2 6(:&/9*<&;215&*1(+1*; 72*;2/9&0*; & ;28(1&'*;> ( 12 1*:*; M*9;*; <2'*9(/&:&5;(> )/* 7(3&1& .=)/&1.'&; ;*<291&; (98&/2'/*;> (1/&4&-(/*9*; 2'.-92.&*1&./&3'2 (98&/2'/=92A =*-)/2>r(=<& .2 .:2 :&)2 *'92@2 ./9='/=9(+1&; -9*6+2;&;(> &1/292.=02 .2 5( .:*0./:( -9(:*&5:*<1&8

-*:9)& J'*02 .;(/9( Y*K&0&; 3=<*;L> & /<#"^# c/'7( E( W(@/(A( U(,&+&(9 !::<# L !["S# J92'(* 02B Tb2;(; -*9*<&4=> 12;(; *6(:25(>1(-=./&* .(; .:*02 '+&021/2> *<6&* .(; -*.+*:2> K2+&; .(;* <( 9(<&; 1( 49':& \(79(<(](;&+&(T , 49':( !HH ;> /9(1.2-/ QH ;L ,F &5:2<21( 02 = ;(+*0 ;29& J.(;* '9&-/( 02 5(:9)21(> &12'& -*9/(+1& <2+*:& .( '=+(;( = '*0&;( .= /926(+& 6&/& &5+*K21( 4&+&1<9&31( 5:*1(> '=+2 l9*/&9(12 -(9(6*+2A !" '=+( , !" (-*./*+( J.&;6*+&'(LLA (98&/2'/=9( '*0( .2 12 ;*K2 -*<:2./& 1&

-*< '(':= *<92<1&4= , .;2+( ./(/&3'(> ('=./&3'(> .:2/+*.1( 92)210(> '*0( 1(.+=@=02;* =&5:2<21*; <2+= 89(;( <*6&+( 6& -=1* 51(32102 <( 02 &5:2<21( <* '9(0( J./=6*:& , (./(/&3'& &

!!D



!Q# S1/*1&* r(=<&

.:& 9(5+&3&/&A *-2'(> :&/9(KA T'*910(32T l *-/&3'& .;(10=02 :&.&1=> -*./&K2 +('*@=A<2;(/29&0(+&5*:(1*./LA M+*9(+1(> ;(:(9.'( & 7*/.'( *1(;21/&'(A /2K&* 02 <( -9*02'/*;*/2+*/:*9& /2*+*)'( 1(32+( ;*<2912 '(/*+&3'2 49':2 & <( =.-*./(:& -*32/(' 02<1*7 1*:*7 1&5('(/2<9(+(, 6*0(B -*9/(+& .= /926(+& 6&/& 9(5+&3&/&8 6*0( J:29( l K=/*> 1(<( l 52+21*> -+(:( l ;&+*.9P2L

, /2*9&0(B 12 -*./*0& = <*.+*:1*; .;&.+= J*69(5*:(1> 32./* 9(57*:(9(* * 69*01&; /2;(;( .(&1/2+2'/=(+4&;(> -*51(/ -* &592'(;( 32./* 5(7*12/1&;L , 1&02 -&.(* 1&/& <9K(* -92<(:(10(>.(3=:(12 .= .(;* 1027*:2 &592'2 J'*02 .2 ;*7= 9(5+&3&/* /=;(3&/&> .('=-+0212 & *60(:+0212 '(*&592'2 12'*7 &./*310(3'*7 ;=<9(4(LA &;-92.&*1&9(+( 7( 02 793'( & .92<*52;1( (98&/2'/*1.'(/9(<&4&0(> <*' 02 7*/.'*0 (98&/2'/=9& 1(+(5&* ;1*72 ;(12A &1/292.*:(* .2 1(9*3&/* 5( M21*;21.:2/+( J= *<1*.= 1( .2:29 7<2 02 8*9&5*1/(+1( &+& /9*-2 7<2 02 :29/&'(+1(> .:2/+*./ .92<*52;+0(

02 .'+(<1(LA :*+2* 02 5(1(/./:*> & 1&02 .2 =./9=3(:(* 1& *< -9*02'/*:(10( 1(0.&/1&027 -*'=@./:(A5( 9(5=;2:(102 1027*:*7 <2+( -*+(5&)/2 ;*K2 6&/& 1(;2)/(0, 92/'* 02 &1/29:21&.(* 9='(;(> :&)2 02 1(<7+2<(* 9(<*:2 :*<2@& 9(3=1( * <*./*0(1./:=

-9*M2.&02

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!E# p7&./ a292

!X# 8@&3- `./.

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-*.+2<10& 4&'+=. M9(14=.'2 ('(<2;.'2 '=+/=92A *;&+021& ;(/29&0(+B (9;&9(1&,62/*1 ,F'*1./9='4&0(B .'2+2/1( J-*92<& '*1./9='/&:1& .'+*- 579(<2 .( '*./=9*; K&:*/&10(> '*0& 02*<;2921> =9(:1*/2K21> .&;2/9&3(1LA K=<10( 5( .&;2/9&0*;, 2-&K(0&4, '+(.&31( /9(<&4&0( JX^_4*+2 <2. Y2(=` S9/.L, '*1./9='/&:1& 9(4&*1(+&5(; Ju*(5&L, /2*9&0( & -9('.( (9;&9(1*7,62/*1( Ja*+ i9&./*M> ]9(1.*( _126&1L, .&;6*+&5(;, S9/ b*=:2(=, >&7*- & A.+*4, !CNE# 1(-=)/( X^_4*+2 <2. Y2(=` S9/. <( 6& .2 -*.:2/&* 9(<= = -*9*<&31*0 -92<=5&;(3'*0

M&9;& , -*;(K2 *4=A '(.1&02 .( 69(/*; r&./(:*; *.1&:( M&9;= Tp# & r# a292 (98&/2'/&T> ( 0*)'(.1&02 .( 69(/*; i+*<*; JTY9(@( a292 -92<=5&;(3&TL, /(1& /(A*7&4!# m(3&1* 2 W.1 T(+*29 !:[[# ,F '*1./9='/&:1& 9(4&*1(+&5(; = 1(4&*1(+1* , 9*;(1/&31*;./&+=A M29*62/*1.'& 1*.(3 *< !C ;"# W-(,N.1( G@/(A( 2 (7.1&0& D(@/(,9 `(/&G9 ![^"# ,F '+(.&4&./&3'* ;*<2+*:(102 M(.(<2 =.'+(<= .( /9(<&4&0*; -(9&.'2 =+&42> .&;6*+&./&3'* , S9/ b*=:2(= <2'*9&.(102 M+*9(+1&;;*/&:&;(<# W-(,N.1( G@/(A( 2 2+&K& U/(1'+&1 ";g9 ![^<# J-9:& 51(3(01&0& -*.(*L ,F E,*.-9(/1(579(<( .(79(P21( *< (9;&9(1*,62/*1.'*7 .'2+2/( '*0& -* -9:& -=/ *-92<2+0=02 & .-*+01& &57+2<579(<2A /926(+* 02 &.'*9&./&/& T=5&<(1=T -(942+= 12<*:*+012 <=6&12A 69(@( a292 *<+=3=0= <( .:2

:(K12 -9*5*92 *'921= '( =+&4&> /('* <( .2 .&;2/9&31( M(.(<( = .92<&)/= -*:+(3& '( =1=/9(A '('* 6& /9(<&4&*1(+1* 5&<(102 = *:(':*0 72*;2/9&0& 6&+* :2*;( *-(.1*> *1& '*9&./2 (9;&9(1*, 62/*1.'& .'2+2/A <*6&021( 02 :&/'( ./9='/=9( & */:*921& -+(1A 1( M(.(<& , 0(.1( <&./&1'4&0( 1*.&:&82+2;21(/( & &.-=12A ='=-1* =52:)&> a292*: 1(3&1 =-*/9262 (9;&9(1*7,62/*1( +&3& 1( u*(5&02:=<2M&1&4&0= 7*/&3'*7 '(* T(98&/2'/=92 9269( & &.-=12TA .'2+2/ 02 6&/(1 &59(5 *6+&'(A 1( M(.(<& .='*1./9='/&:1& 2+2;21/& *6+*K21& 9(:1&; '(;21*;> ( &.-=12 92+02M1*; '29(;&'*;>M*.&+&5(4&0*; S9/ b*=:2(=]# 6(/(>( 2 2+&K& `*1-&0.9 ![^;# ,F (9;&9(1*,62/*1.'& 9(;*:& :&<+0&:& 1( M(.(<&> .(;**;(+/29&.(1&> =*':&9=0= ./('+21( *'1(A :25( .( '+(.&31*; /9(<&4&0*; *7+2<( .2 .(;* =.&;2/9&31*./& 42+&12;# `*G*/&)-. 1( Z.+&3.03'&, B*+0&,(9 ![!!#L!<# ,F !N!H# -*.(* 02 1(9=321 *< g1/& 7(1 A.

D.+A.(> '*0& 02 .8:(/&* <( 56*7 .'=321*./& -9*./*9( ;*9( <( '*9&./& (9;&9(1&,62/*1> -( -*5&:(M&9;= 69(@2 a292A a292 02 *.-*9&* W(1 <2 W2+<2*:= '*142-4&0= .( '*1./9='/&:1*7 (.-2'/( & -92<+*K&* &5;21021* 92)2102> /('* <( 02 -9*02'(/ '*;-9*;&.1&A -(942+( IE ; -=/( NG ;>/926(+* 02 <( -9&;& /9& .(+2 J!"GH> GHH> !GH ;2./(L & -9(/2@2 -9*./*92A a292 <*;&)+0(/* *-29&)292)2/'(./*; '*1./9='4&0*;> '*15*+(;( & .+&31*A -9*32+02 02 '*1:214&*1(+1*> (+& .= & .-*+0( &&51=/9( '*9&)@21& .&;6*+&./&3'& 92+02M& & .+&'2, *.*621*./& 1027*:2 (98&/2'/=92 J./9*7*./> .;2+*./> 02<1*./(:1*./ & *<(1*./ /9(<&4&*1(+1*0'*1./9='4&0&L *7+2<(0= .2 & = <2+&;( '*0( 9(<& -* 5(:9)2/'= V .:# 9(/(BS# 53A./*7( e(N/&'( *A.\.9 ![![# ,F -9*32+02 02 <*12'+2 *-/292@21* -+&/'*; -+(./&'*; &<2'*9(/&:1&; ;*/&:&;(> (+& 21/29&029 :2+&'2 <:*9(12 -92<./(:+0( <&1(;&31* .:2<*3(1./:*;*7=@1*./& (9;&9(1*7,62/*1( J'*;6&1(4&0( :2+&'&8 +='*:( & 9(;*:(> 5(./('+021 '9*:L

!!Q



!E# p7&./ a292

X# c/'7( j*-/ =(, A& O.13&9 ![""#L"<# ,F ;*K<( 1(03&./&0( -9&;21( (9;&9(1*7,62/*1(>2+27(1/12 -9*-*94&02> '*1./9='/&:1( ;*<=+(4&0(> -92M&1021( .&1/('.(A <=8*:1*./ -9*./*9(5(.1*:(1( 1( 7*/.'*0 /9(<&4&0&, <:( :(K1( -9&:92;21( *602'/(B:# l,.-1&H'( @(+./&0(9 `(+. A. ?*(9 !["]# ,F <9:21( ./9='/=9(

[# T(+* B*G*/&)-. 1( JG+*>N& A.'*/(-&71. 2,.-1*3-&9 !["S# ,F '*;6&1(4&0( +(7(1&8;(/29&0(+(> -9*02'/*:(1( <( &57+2<( ;*1*+&/1*!^# c/'7( W7# b./.G.9 T*1,(10&9 !["S#!!# W(+( ,2G&H'. )'*+.9 !["[# ,F *.1*:( 7+2<(+&)/( +&3& 1( a(+(<&0( J-*-92'*L!"# W-(,N.1( G@/(A( 2 2+&K& O.012(/9 ![<"# ,F *:<2 02 .;2./&* & .:*0 (/2+02A +&3& 1( 579(<= =]9(1'+&1*:*0 =+&4&> ;(102 02 <2'*9(/&:1(!<# T2G.0 0(71&F /(A*7(9 ![<[# ,F /9*=7(*1& 6+*' .( =1=/9()10&; <:*9&)/2;A '+(.&4&./&3'&&59(5 (9;&9(1*,62/*1.'*7 .'2+2/(A =56=<+0&:( T+26<2@(T '*142-4&0( 7+(:1*7 ./2-21&)/(A./=6*:& ;(+* .=K21& 1( <*+2A 9(1&0& T49':21&T ;*/&: , .-*+01& 5&< .( ;(+&; */:*9&;( '*0&*./(:+0( =/&.(' /'(10( Js2;-29L, 0*) 12'& -9*02'/&B

!]# j(K&*1(+1( 23-(1*7( G( H27(10. 1(,.)-(0(!;# gA,&1&3-/(-&71( G@/(A( J3-/(>&7(H'&F +(N*/(-*/&0(, -.*/&03'& A*B/&1*34, 12:2+&'* *6&;*;> /2*9&0.'* <2+* a292( *<+&'=02 .2 (M*9&./&3'&;> <&0(+2'/&3'&; 1(3&1*;9(5;&)+0(10(> :29*:(* 02 = =1&:295(+1( -9(:&+( (98&/2'/=92A -*.+2<10& :(K(1 /2*92/&3(9./9='/=91*7 '+(.&4&5;(!S# O.'*13-/2'K&0( g7/(9 ![]]#L;]# ,F =96(1&./&3'& 9(< a292( & =321&'(A a l !GH 8(*-=./*)21*7 <2+( 79(<( J-*.+2 6*;6(9<*:(10(L, S:9 , *'21(.'( +='(A 79(< 1(0./9(:&31&02 9(5*921 J!"GHH 79(P2:&1( =1&)/21*> CHHHH +0=<&*./(+* 625 ./(1*:(L , 6*;6(9<*:(102; /*'*; 42+*7 9(/(> <( 6& '9(02; !NDD# 6&* .9=)21 <*/2;2+0( .( &5=52/'*; <:2 49':2 J= &5:2)/(0&;( , T/(6=+( 9(.(TL *65&9*; 1( *6&; )/2/2> .:('&

-9&./=- 02 6&* ;*7=@, 0*) /*'*; !NDD# 79=-( a292*:&8 =321&'( .2 *'=-+0( *'* &<202 5( 92'*1./9='4&0= 79(<(A1(-&.(+& .= ;(1&M2./ & *.1*:(+& =<9=K2102> 92)21& <( -*< :*P./:*; .:*7 =3&/2+0( & = .'+(<= .(1027*:&; T:2+&'&;T -9&14&-&;( -92=5;= *:(0 *<7*:*91& 5(<(/('> =;2./* <( 7( -92-=)/(0=(+0'(:&; <9K(:1&; '*;2.(9&0(/&;(A *<9K(+& .= <:( .(./(1'( .( ;&1&./(9./:*;> -*.+2 327( 02*<+=321* <( .2 92'*1./9='4&0( -*:29& a292=, /('* 02 *.1*:(1 S/2+02 5( 92'*1./9='4&0= S:9(A 79=-= 02 *'=-+0(* <=8 .(7+(.1*./&>5(02<1&)/:( & <*.+2<1*./& -* -&/(10= a292*:*7 ./9='/=91*7 '+(.&4&5;( J'*7 02 :2@ *-9*6(* 1(12'&; =96(1&./&3'&; -9*02'/&;( &5 IH,/&8 7*<&1(L, -*32/(' 9(<( , &1/291& '*1'=9. 3&02 02 -*+(5&)/2 6&+* = 12'*+&'* *-)/2 -9&8:(@21&8 1(32+( ,

5(<9K(:(102 -*./*02@&8 *.(> *<7*:(9(0=@( :2+&3&1( 6+*'(> & /<# J9(5:*0 S:9( = UWV :# 5(-*32* 0( 1( *.1*:(;( 9(4&*1(+1*7 -+(1(> (+& 02 /*'*; &1<=./9&0.'2 92:*+=4&02 )&92102 -*./(+*8(*/&31*LA &5<:*0&+2 .= .2 <:2 79=-2 -9*02'(/( , ;2)*:&/& & '*1529:(/&:1&A a292 02 *<(69(*'*1529:(/&:1= ./9(/27&0= & *< (=/*9( /&8 -9*02'(/( 5(/9(K&* 02 ./=<&0= '*0( 02 :2*;( +&3&+( 1('*1(31* 92)2102, '*1(31& -+(1 , *9/*7*1(+1( ;92K( =+&4( 5(.1*:(1( 1( -9(:4= <*'*:(A 42* 79(< = 9(./29= Q>"D; -=/( Q>"D ;A -+(1 02 -9&+&31* '*1529:(/&:(1 & 12M+2'.&6&+(1 .( 1&5*; 1292)21&8 -9*6+2;(>3(' & = *.1*:1*0 -*./(:4& ;92K2A &-('> &.'(5(1* 02 =:(K(:(102 .2@(10( 1( ./(9= -9*./*91=*97(1&5(4&0=> :9+* :(K1* 5( ./(1*:1&'2A +*)2 ./9(12B -921(<=:(1 ;*1=;21/(+&5(; =96(1&8

-9*./*9(> 12<*:*+01( *<92P21*./> -92;(+2 7=./&12, a292 02 -92<+(7(* & *<&5(102 .(*69(@(01&4( I>G ; &51(< 1&:*( /+( ,F 9(<& :*<*:*<(>

.(*69(@(0( 1( <:( 1&:*(> 7(9(K(> .'+(<&)/(> ###> (+& 02 79(<.'& .(:2/ /* *<6&* 56*7 :&.*'&8/9*)'*:(

!!E



!C# q*1& r(91&02

!:# b*1& 6(/1&0.

L b*1& 6(/1&0. Pb*1Q 6(/1&./R9 !:S[# L ![]:#, X&*1 ,F &1<=./9&0.'& 421/(9> /281&+*7&0( J'&12;(/*79(M&0(> (=/*;*6&+&> (:&0(4&0(LA 9(<&'(+1&.&1<&'(+&5(;> .*4&0(+&5(; a9=<*1*:.'*7 /&-(A M9(14=.'& 927&*1(+&./&3'& -*'92/ , 5(+(7(102 5(<2421/9(+&5(4&0= & 5(+(7(102 5( *K&:+0(:(102 +*'(+12 '=+/=92, *N/(G*7(10.4, 9*P2 = X&*1= J= X&*1= .= &<2(+& a9=<*1*:.'*7 .*4&0(+&5;( 6&+& <*./( -9&.=/1&L !CQN#A */(4/2'./&+1& <&(0129A *<9(./(* = 9(<1&3'*0 32/:9/&, ./=<&02 (98&/2'/=92 5(-*32* !CCQ# = X&*1=A !CCN# -92+(5& 1( X^_4*+2 <2. Y2(=` S9/. = a(9&5=A5(&1/292.*:(* .2 5( -&/(10( -9*79(;.'2 (1(+&52 & '+(.&M&'(4&02 /&-*:( 79(<102 JB/*e.3*/ 6*(A., .1(K(1 =/&4(0 & 1( a292(LA !CNN# r(91&02 02 *.:*0&* r9(1< a9&` <2 R*;2 J*:= 1(79(<= 02*.:*0&* <:2 7*<&12 -*.+2 -9:*7 '*1'=9&.(10( 5( 10= .( .:*0*; *;&+021*; /2;*;&1<=./9&0.'*7 79(<( = (9;&9(1*;,62/*1=> 7:*KP= & ./('+=L , R&;.'= 1(79(<= 5( 92'*1./9='4&0=79(<( q=.'=+=;( J0('* ;1*7* <*9.'&8> 0*1.'&8 & '*9&1/.'&8 ./=6*:(L> -*.+2 327( D 7*<&12

-9*:*<& = :&+& ?2<&3&, = a(9&5= .2 1(<(81=* s*+&1*; :&5&0*; 1*:*7 <9=)/:21* , 2'*1*;.'*7 -*92/'( = 1027*:&;=/*-&0.'&; <2+&;(!# `/*0.'(- &1A23-/&03'*@ @/(A( Pc&-. &1A23-/&.++.R9 ![^]# ,F :9+* <2/(+0(1 & (97=;21/*:(1, /*'*; 6*9(:'( = R&;=> '(* *6(:25(1 9(< =9(<&* 02 92'*1./9='4&0= 9&;.'*7 79(<(q=.'=+=;( J<*6&* R&;.'= 1(79(<=L> (+& .2 1&02 *<92'(* .:*02 *;&+0212 /2;2 &1<=./9&0.'*779(<(, -(9(+2+1* 02 9(<&* & 1( -9*02'/= &1<=./9&0.'*7 79(< J79(< 6=<=@1*./&> *-)/& .+=3(0L> '*0& &5+(K2!NHD# -* -*:9(/'= = a(9&5, '*142-/ &1<=./9&0.'*7 79(<( , *-)/& .+=3(0, IGHHH ./(1*:1&'(> +*4&9(1 =5 92'=> = -+(1&1.'*; '9(0=> 927&*1(+1& 421/(9A .92<10( :2+&3&1(

79(<(> /2921 9(:(1 & 69<*:&/> -92.24( 7( 92'(> M(69&'( = <*+&1& 1( =)@= ;(102 = :2@= 92'=AK2+251&4( :*<& *< M(69&'2 <* 79(<( '*0& 02 1( :&.*9(:1&, .*4&0(+&5(; J=:2* 02 1*:2 /&-*:2 579(<(B (7214&02 5( 5(-*)+0(:(102> 62.-+(/1& -(1.&*1&LB12;( *79(<(> -9&:(/1*7 :+(.1&)/:(> '(.(91&> .=<(> 5(/:*9(> -*+&4&02> 49'(:(, -9*./*9 &5;2P= <:2 579(<2 = -9(:4= .2:29 , 0=7 v :&.&1& 579(<2 1( 0=K1*0 ./9(1&, 12&579(P212 -*:9)&12B '*1/&1=(+1& -(9'A &579(P21*./ <* GH j, 8&029(98&0( =+&4(> 9(51*9*<1( 79(P2:&1.'( /&-*+*7&0(> -9*.2' ah"> ('.&0(+1*./ h *9/*7*1(+1*./>IH ; -=/( !GH ;, (9;&9(1*,62/*1.'* , 32+&31( :&5&0( ;2<&/29(1.'2 S9'(<&02, = *:*; -9*02'/= J-* '*; 02 1(0-*51(/&0&L -*;&102 :(K12 -*0;*:2B 51(3(0 8&7&021.'&83&1&+(4( J\=142> :(5<=8> 52+21&+*L> <*69* 9(5;('1=/2 79(P2:&12> -2)(3'2 ./(52 *<:*0212 *<

.(*69(@(0(> W9/1& 79(<, 5*1&9(102B .92<102:2'*:1* 02579*> 1*:& <2* 79(<(> &1<=./9&0.'( 5*1( J= <*+&1&L> 6*+1&42 J<(+02= 69<= 5()/&@212 *< 8+(<1&8 :2/9*:(> '(* & 79(< *'921=/2 '( 0=7=> .;2)/212 1( /29(.2>

-*<&71=/2 &51(< 92'2L, &1M9(./9='/=9(B K2+251&4(> 8&<9*421/9(+( .( 69(1*;> (=/*,-=/, -+(1 02 9(59(P2 <* <2/(+0(> .( -9*02'/&;( .:&8 579(<( & .=72./&:1&; -29.-2'/&:1&; 49/2K&;(, = *'*+&1& .= -*+0*-9&:92<12 -*:9)&12, -*<9(5=;2:( .2 '*9&)@2102 /281&3'&8 1*:&1(, :2+&'( :25( .( (1/&'*; = *:*; -9*02'/=B (=/*,-=/ '*0& -92;*)@(:( <*+&1= -*<.2@( 1( 9&;.'2(':(<='/2> -*5*9&)/2 1( */:*921*; -*<.2@( 1( 793'2 (;M&/2(/92> ( 579(<( '=-(/&+( 1( 9&;.'2/29;2

, &1<=./9&0.'& 79(< J-* ./&+= :9(@( .2 (1/&3'&; *6+&4&;(> ( -* M&+*5*M&0& (1/&3'*; <=8=L 02 6&*=/*-&0.'& '*142-/ .( (9'(<&0.'&; 1(7*:2)/(0&;(A :(K(1 02 029 7( 02 .(; r(91&02 '(.1&02 = .:*;

!!C



!C# q*1& r(91&02

<2+= '(.1&02 '*9&./&*> ( .2; /*7( 51(3(01* 02 =/&4(* 1( X2 i*96&502( & =96(1&./&3'2 -*./(:'2fVS?,(, +&*13'( A.+(-1*3-9 ![^] L ![!]#4, *< !NHD# -*./(02 7+(:1& (98&/2'/( X&*1(> 1( -*5&: .*4&0(+&./&3'2 79(<.'2 :+(./& J:(K(1 3*:2' ,5(;21&' 79(<*1(32+1&'( 5/&*L

"# m*,B+.'3 '+(1&K. & 3-*H1. B&0(K. E( T239 ![^[#L!<# J-*.+2 -9:*7 -9*02'/( 5( _9&*( ,.'9*;1( ,+.'(/( 3( )-(+(,( 2 B(/'2 b# b# ![^]#L ,F ;('9*=96(1&./&3'( 02<&1&4( J/*'*; VV.:# 9(/( '*9&)@21( '(* M(69&'( -9*02'/&+(A K2+251&3'& -9&'+0=3('A 1&5 -(:&+0*1( , 1(0=-23(/+0&:&0(:2+&'( 8(+( J1( /9*57+*61&; +='*:&;( 9(.-*1( CH ;L .( ./2-21(./&; '9*:*; &<:( <&;10('( *<K=/2 *-2'2 '*0& .= <*;&1(1/1& J'*1./9='4&0( -*<2@( 1( T8(+= ;()&1(TL> .:2 579(<2 *<+&'=0= .2.:2<21*; -+(./&'*; J.'9*;(1 =+(5 *&:&321 1027*:&; *.*621&; ./=6*:&;( , .:2/&+0'(;(L>

02<1*./(:1*)@= M*9;2> 9(:1*/2K*; 8*9&5*1/(+1*7 & :29/&'(+1*7> M=1'4&*1(+1*)@=<# 8+&,B&03'& 3-(A&*19 ![!<#L!S# ,F 793'* , 9&;.'& <=8> 625 7+*;(51*./&A 8*9&5*1/(+1*./>='+*-+021*./ .( /2921*;A 1(7+()21& =+(5& JD +='(L, = *9&7&1(+1*; -+(1= ./(<&*1 02 /926(+* <( 6=<2 & :9./( .-*9/.'*7 421/9( .( ;(10&;&79(+&)/&;(> .(+(;(> 6(521*; & 92./*9(1*;> (+& 02 79(<10= -92'&1=* V .:# 9(/ & 1&'(< 1&02

5(:9)21(]# ?*+1&K( 6/(1> ?+(1)9 ![!;# J<*6&+( 02 _9&*:* &;2 -*.+2 1027*:2 .;9/&L ,F :9/1(

-(:&+0*1.'( J", & I,.-9(/1& -(:&+0*1L ./9='/=9( 1( -(<&1&A 579(<2 .= 1&.'2 .( 9(:1&; '9*:*:&;(A12;( -*;-251*./&, '(* & '*< '*;-+2'.( '+(1&42> K&K1( /(3'( 6*+1&42 02 -*./9*02102 5( 7920(102 .( <:( <&;10('(;# %.-7/- CW0.A1&10.1. A/>(7.C9 B/*0.'(- &G !["^9 G(B*H.-* ![":# ,F -9*02'/*:(12 .= '=@2.( /9& <* 32/9& .-9(/(> (+& .= -*:&)212 5( 0*) <:( .-9(/(> -( .2 &57=6&+( -92<:&P21(

-9*-*94&*1(+1*./A .=-/&+1( -*<2+( 1( 6+*'*:2> (<(-/(6&+12 ./(1<(9<12 02<&1&42A 695 .92<&)10&.(*69(@(0 *<:*021 *< .-*9*7 .(*69(@(0(A -9*./*9 &5;2P= 579(<( = 52+21&+=> 625 *79(<(, !N!E# r(91&02 02 *60(:&* 49/2K2 & '*;21/(92 TV1<=./9&0.'*7 79(<(T> ( !N!N# -9*02'/2 '*02 02=9(<&* = X&*1=, M9(14=.'* , (;29&3'& .(1(/*9&0=; , 6*+02 9(59(P21 *< 6*+1&42> GDQH '92:2/(> -(:&+0*1.'&> N579(<(, 2*B)-. * A.+24, -*:=321 K&:*/ = X&*1= J;(+* 02 -=/*:(* & ;(+* -&.(*> &59(K(:(* .2 .'*9* &.'+0=3&:* '9*5

-9('/&3(1 9(<L> :(1 9(5;&9&4( (:(17(9<2A 2./2/.'& 5(*./(02 5( S19& :(1 <2 W2+<2*;> X*.*; &+&R(0/*;> (+& 02 = ;1*7* 32;= 1(-92<1&0&, .+&31*./ .( a292*; , :25(1*./ 5( '+(.&31= /9(<&4&0= J'(* :9./( :23&/2 (98&/2'/=92 '*0( .2 ;*K2

-9&+(7*<&/&B .'+(< &5;2P= (98&/2'/=9( 1(.+2P( & /281&'( 79(<102L> &<20( * =1&:295(+1&;:92<1*./&;( (98&/2'/=92, *<1*. -92;( <9=)/:=B -9&8:(/(102 /281&3'&8> (<;&1&./9(/&:1&8> 2'*1*;.'&8 & <9=7&8

=.+*:1*./& <9=)/:(A -+*<(1 *<1*. .( -*.+*<(:42;, 79(P2:&12 12 -*.;(/9( &5<:*021*> :2@ = M=1'4&0& <*69*6&/& 79(<(

!!N



"!# Y23 1( -92+*;= :2'*:( , .242.&0(

"!# ?.H 1( B/.+*,2 7.'*7( L 3.K.3&0(

, 37.-* B/*+.\.4 D(@1./9 8+N/&F9 M*e,(19 !::S# L ![!"# JY23 ,F .-&.& & ./(:*:& s2;-29( &u&1'2+(A *<6(4=02 s2;-29*:= &/(+&0(1.'= 9212.(1.=A -9&8:(/( u&1'2+*:* ,F T.:('( 2-*8( ,.:*0 ./&+TL, Y23> !CNC# , !N!C# ,F *<6*01*./ -92;( -9&51(/*; <9=)/:21*; =92P210=> (+& & 5(-(10=0=@&'*1529:(/&:1& '(9('/29 J(98&/2'/=9( & .+&'(9./:*LA D(@1./9 8+N/&F & M*e,(1 /('*P2# c2<&1*gA*+e E*3 = -*/9(5& 5( 3&./*/*; *<(02 5(32/'2 -*/-=1* 1*:*7 ;*<291*7 ./&+(, m+&,- & D(@1./ = /*'= K&:*/( 5(=5&;(+& '*1/9*:29512 -*5&4&02 & &./&4(+& '(* -9&-(<1&4&(:(17(9<2> ( -9&/*; = 10&8*:*; 9(<= -9&.=/1& .= /9(7*:& /9(<&4&02, !CNE# , .242.&0( , <* !NHI# , 5+(/1* <*6( ,F p+69&8> [*M;(1> ?*529> i+&;/ J!NHI# , -*.+2<10&

69*0 TW29 .(49=;T ,F -92./(+* 02 & 5+(/1* <*6( .242.&02L, !NHC#,!!# ,F '+(.&4&5(4&0(, !N!"# ,F '9(0 JW(7129 , :&+(L, Y23 ,F 6*96( &5;2P= 2'+2'/&3'2 .242.&02 & X*.*:&8 /25(# W(7129 02 *.2/&* 0(3(102

T-9*/&:1&3'&8 .1(7(T & -*5:(* p+69&8( <( 5(=5;2 ;2./* -9*M2.*9( 1( S'(<2;&0&> )/* 02 *:(0*<6&*, .242.&0(B ,F 1*:& ;(/29&0(+& & *91(;21/&'( , .-*+0(> 12 &51=/9(A 12 -9&;210=02 /281&3'(<*./&71=@(> :2@ &./9(K=02 1*:&> *91(;21/(+1& &59(5> 3&;2 =1(-92P=02 -9&;21021= =;2/1*./

, 27*A4, 3&/(: 1&5 5<(10( -9&;29 .= *69(5*:1*7 &<2(+( +&629(+12 S=./9&02B O1&:295&/2/> ;=520>

-*5*9&)/2 & 1(0:2+2+2-1&0( *< .:&8 , p-29(A '=+/=9(> 9(1&02 5(/:*921( = -(+(/(;(> .(<( .2 9(5+&+( -* /97*:&;( , .:&;( <*./=-1(A =;2/1*./ :&)2 1&02 .(;* &59(5 (98&/2'/=92 =5:&)21*./& & 49':2>:2@ -*./(02 ='9(. & *-)/2 <*69* -9*.:2@21*7 79(P(1./:(# W2+2+2-12 79(P2:&12 = R&17)/9(.2

-*/:9&P=0= <( .= = S=./9&0& <2.-*/&5(; & :29= .;21&+2 =./(:1( -*+&/&'( & .:2/*:1( '=+/=9(

, 5(8:(+0=0=@& 2'*1*;.'*; 1(-92/'= S=./9&02> .:2 :&)2 .2 K&:& (9&./*'9(/.'&; K&:*/*;# Y*7(/&79(P(1& & =.-2)1& 6&9*'9(/& -*<&7+& .= 79(<.'2 & -9&79(<.'2 :&+2> .+&312 ;=520&;(> '*02 -*./(0=.92<&)/( <9=)/:21*7 K&:*/(, 217+2.'& -929(M(2+&/& 6&+& .= 1(<(81=@2 -*'92/= S9/ b*=:2(=> '*0& .2 = S=./9&0& '9(02; UVU :#1(5&:( .242.&0(# S+& <* S=./9&0.'&8 .+2<621&'( 1&02 -9*<9+( 1& 10&8*:( <=8*:1*./J-.2=<*.92<102:2'*:1(L 1&/& 1(7*1 5( <9=)/:21&; -92*69(K(02;# S=./9&0.'2 2./2/2 1&.= 6&+2*/=P212 *< <9=)/:( J'(* = ]9(14=.'*0L> 1&/& .= 6&+2 <2* <9=)/:( J'(* = _17+2.'*0L# b2<*./(0(*&; 02 (1/&6=9K*(.'& <=8# b& (17(K*:(12> 1& <25(17(K*:(12> (=./9&0.'2 2./2/2 1&.= 6&+2 */=P212*< .:*02 '+(.2> :2@ .= 5(02<1* .( 10*; */=P212 *< <9=)/:( '*02 02 *<6(4&+* .*-./:212:92<1*./&

L 8-* D(@1./, -92<+(7(* 02 1*:& ./&+ '*0& 12 6& &;(* 1& /9(7( *< &./*9&4&5;( & '*0& 6& .2 *.2@(* = .:&;.M29(;( , *< =96(1&5;( <* =1=/9()1027 =92P210(, '10&@( CT*A./1( (/F&-.'-2/(C J*61*:+021* &5<(102 .2 5*:2 Cj.&,(/3-7* 1().@7/.,.1(CL, W(7129 -*3&102 *< s2;-29*:&8 &<20(> '92@=@& .2 '( X2 i*96&502=B 1(-(<( *1* )/* .(

-92'*9*; 1(5&:( T(982*+*)'&T *<1*. &./*9&4&./( & 5(./=-( ./(: <( .2 1( (98&/2'/=9= 7+2<( '(*1( T&59(5 ;*<291*7 K&:*/(T '*0& ./:(9( +2-2 *6+&'2 625 /9(K210( =5*9( = -9&9*<&# q:9<& T<( .2 =(98&/2'/=9& ;*9( :&<2/& .=-29&*91& &59(5 +0=<.'2 ;*@& , ;*@& :9+* 6+&.'2 6*K(1.'*0T# X2i*96&502 *:(':* .8:(/(102 (98&/2'/2 *<:*<& = 0*) :2@= '9(01*./, W(7129 1(-(<( -9('.= <( .2 (98&/2'/2 *6=3(:(0= '(* <( .= &1K21029&> 029 02 5(&1/292.*:(1 <(

=;2/1&3'& *6+&' <*:2<2 <* 1*:&8 /281*+*7&0(> ( 12 <( 1*:2 /281*+*7&02 *./(:& 1( ;&+*./&1K21029.'*0 ./9=4&# s(/* .(:2/=02 ./=<21/2 (98&/2'/=92 <( 12'* :92;2 -9*:2<= = V/(+&0&> 12 <(

!"Q



"!# Y23 1( -92+*;= :2'*:( , .242.&0(

6& .'=-&+& 56&9'= (98&/2'/*1.'&8 ;*/&:( J/* 6& .2 79(1&3&+* .( '9&;&1(+*;L> :2@ <( -*.2/2 :2+&'279(<*:2 & .(7+2<(0= -*/9262 .(:92;21*7 3*:2'(, <('+2> W(7129 *<6(4=02 &./*9&4&5(;> 029 ./&+> = -9(:*; .;&.+=> -92<./(:+0( -9*&5:*< 1*:&8;(/29&0(+(> /281*+*7&02 & <9=)/:21&8 -9*;21( , T(-.*+=/1& &59(5 &<2(+( +2-*/2> *<7*:(9(0=@27 5(*<92P21* <*6(T# Tb*:& 3&+02:& & 1*:2 '*1./9='4&02 9(P(0= 1*:2 *6+&'2#T

, <(+02> .;(/9( <( T12-9('/&31* 12 ;*K2 6&/& +2-*T, ;(/29&0(+& & /281*+*7&0( .= -9&;(91&> ( .:2 *./(+*> ='+0=3=0=@& & '*;-*5&4&0=> 10&;( -*<92P21&BT'*;-*5&4&0( ;*9( 0(.1* <( */'9&:( '*0& .= ;(/29&0(+& & /281&'2 -9&;21021&T & ('* .2 /*

-*./&712 T'(9('/29&./&'2 & .&;6*+&3'& ':(+&/2/ 79(P2:&12 -*0(:&@2 .2 .(;& *< .262T, ;*<291( (98&/2'/=9(> -* 102;=> ;*9( 6&/& 02<1*./(:1(> -9('/&31( =5 .&;2/9&0= '(* &;-29(/&:><( 6& &59(5&+( 2/*. <*6(, = 1*:&; <9=)/:21&; =.+*:&;(> 02<1*31*./ ./(;621&8 6+*'*:( @2 -*./(/& <*;&1&9(0=@( ==96(1*0 .92<&1& 6=<=@1*./&### '(* )/* @2 <*;&1&9(/& & .:2 :2@& 69*0 .-9(/*:( , <* E , C 5(./(;6212 & -*.+*:12 *602'/2 .( *6+('*<29&;( = 421/9&;( 79(<*:(# a9& -9*02'/*:(10= M(.(<(;*<291&8 ./(;621&8 6+*'*:(> (98&/2'/( @2 6&/& -9&;*9(1 <( -9&8:(/& & 9(:12 -*:9)&12&.-92'&<(12 .(;* :2+&'&; 69*02; &./*:2/1&8 -9*5*9(> .( 2:21/=(+1&; :2142; &+& M9&5*; &

=+(51&; /92;*;# b&02 <(* 1&'(':2 2./2/.'2 .;291&42# _./2/.'& ':(+&/2/ ;*<2912 (98&/2'/=923&0& 02 1(7+(.(' 1( ;(/29&0(+&;( & '*1./9='4&0&> ;*9(@2 <( .2 -*:&1=02 =.+*:&;( & .8:(/(10&;(;*<291*7 3*:2'(# c2<1( *< 92/'&8 2./2/.'&8 -92-*9='(> '*02 W(7129 <&92'/1* <(02 02./2=-*/926( -*942+(1(> ;(0*+&'2 & ;*5(&'( '(* ;(/29&0(+( 5( M(.(<2 J'*02 02 & .(; -9&;21&* 1(12'&; M(.(<(;( = Y23=L, 1027*:& 9(<*:& C6.1./(+1& 2/N(1&3-&H'& B+(1 /.@2+(K&0.C & CD.+&'& @/(AC -*'(5=0=

-9&8:(/(102 '(* 12;&1*:1*./&> 12*79(1&321*7 9(./( 79(<*:(> '*0&;( <*;&1&9(0= .(*69(@(0 &'*;294&0(+1& &1/292.&> 79(<*:( -*<2+021&8 1( ':(9/*:2 5(.1*:(12 1( *9/*7*1(+1*0 ;92K& =+&4('*0( &8 <2+& 1( 6+*'*:2# O =96(1&./&3'*; -+(1&9(10= W(7129 02 51(3(0(1 -92/8*<1&' X2i*96&502(, 1027*:2 79(P2:&12 -92)+2 .= 9(5:*01& -=/ *< &./*9&4&5;( <* M=1'4&*1(+1*7 S9/ b*=:2(=> &5(0<1* .( 1027*:&; -&.(1&; <2+&;( & -92<(:(10&;( 1( Y23'*0 S'(<2;&0&> 6&/1* =/&4(+2 1((98&/2'/=9= UU :#

!"E



""# p/* W(7129

""# 8-* D(@1./

L 8-* D(@1./ P8--* c*+*,*1 Y(@1./R9 !:]!# L ![!:# ,F 5:(+& .= 7( T*42; .(:92;212 623'2(98&/2'/=92T & T=3&/2+02; 3&/(:2 72129(4&02TA 1(0&./('1=/&0& 3+(1 .242.&02A -9*M2.*9 O;2/1&3'2S'(<2;&02 = Y23=A 1(-92<12 ('(<2;.'( ;&.+&A =/&4(* ,F 1( %282 Ji*/029(> c(1('> r*3(9>###L>1( b2;42 Jp+69&8> [*M;(1L> 1( c=7*.+*:212 J](6&(1&> i*:(32:&@> a+231&'L

, *N/(G*7(10.4, 9*P21 !CD!# = a2+4&7= '*< Y23(, =32102 (98&/2'/=92 5(-*3&102 !CGE# 1( /281&3'*0 )'*+& = Y23=> 1(./(:+0( 1( S'(<2;&0&JY(=('(<2;&2L = Y29+&1= '*< 02<1*7 *< 1(06*+0&8 u&1'2+*:&8 =321&'(> ( 5(:9)(:( 1(S'(<2;&0& = Y23=> !CQI# '*< 7(1 A./ j&+( & W&'(/A3N2/@(> '*0& .= .+2<&+& s2;-29(> -( 02 &W(7129 '921=* /&; ./*-(;(> (+& 1( 02<(1 *.*621 1(3&1> <( 6& 1( '9(0= <*32'(* <( ./:*9& .:*02<*6(A 5(8:(+0=0=@& .:*; -*+&/281&3'*; *69(5*:(10=> W(7129 02 6&* :9+* .:2./(1 <9=)/:21&8 &/281&3'&8 3&1&+(4( .:*7 :92;21(

, 2-&K(0&4!# =/&4(0& (98&/2'/=92 :&.*'2 9212.(1.2"# 9(4&*1(+&5(; n&1'.+*7. )'*+2I# 92/*9&31*./ 79(<&/2+0( R&17(B f.,B./(9 M(G.1(2./(9 7(1 A./ j&+( & W&'(/A3N2/@(, W(7129*: 9(5:*0 /2'(* 02 +*7&31&; J!G 7*<&1( 9(<&* .(;*./(+1*L> -*./=-1&; /*'*;> =5.(51(102 <( 51(3(0 02<12 579(<2 12 *<92P=02 M*9;(+1& (98&/2'/*1.'& 9231&'> :2@ 1021 *9&7&1(+1&'(9('/29 J5(-(K(102 [*M;(1(LA -9*/&:&* .2 &./*9&4&5;= , T32+&' 3*:2'T

, >&7*- & A.+*4, /(1& /(A*7&4

t ?./G( 2 g,3-./A(,29 !::]# o7+*;(51& *91(;2/1/& '*0& <2+=0= :9+* 3=<1* =t O23'( (,N(3(A( 2 ?.H29 !::S# o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g23-/&03'( f.,(+03'( N(1'(9 !::<#L:]# ,F 92;2',<2+* & .( :&5=2+1*7 & .( -9('/&31*7

(.-2'/(A -92M&1021* *.:2+02102 , ./('+21& '9*:*:& 1( 7:*5<21&; 792<(;( J/(':* *.:2/+02102 02 -9&;21&* & '*< .:*02 -9*.+(:+0212 579(<2 a*)/(1.'2 )/2<&*1&42LA -+(1 , '*92'4&0( *.2 '92/(10(J=.+2< 12-9(:&+12 -(942+2L '9=K1*; , 57+*61*; -9*./*9&0*; J1( =+(5= 02 :2./&6&+ TpT *6+&'( .(./(/=*; = .92<&1& '*0( -29.*1&M&'=02 S=./9&0=A -=/ <(+02 +*7&31* :*<& <* )(+/29(L /('* :2)/* <(.2 /* -9& '92/(10= =*-)/2 12 *.2@(, 1( 7*910&; .-9(/*:&;( .= -*+='9=K1& 8*<1&4& '*0& -*:25=0= '(142+(9&02> *.:2/+021& -*;*@=&./*7 .:2/+*.1*7 &5:*9( *79*;1&; -9*5*9&;( .( -*+=/9(1.-(921/1&; ./('+&;( '*0& .(=1=/9()102 ./9(12 579(<2 7+2<(0= 1( 1021 .92<&)10& <2*"# `/7( 7&+( D(@1./ J5( .262 & .:*0= -*9*<&4=L9 M&-.+A*/e '*A ?.H(9 !::S#L::# ,F*/2+*/:*92102 '+(.&31*7 -(+(<&0(1.'*7 <=8(<# m*1'2/31& /(A G( @.1./(+12 /.@2+(K&02 ?.H(9 !:[<# ,F &./('1=/* -&/(102 .(*69(@(01&8

/*'*:( J&579(<10( 1*:2 =+&42 &5(> ( '*1421/9&312 .( R&17*;> -*+='9=K12 ,F '*0*; 6& .2M*9;&9(* -=1 '9=7A -*<52;1( K2+251&4(L> 1(7+()21 51(3(0 <=7&8 -9(:&8 =+&4(> -92=92P&:(102

!"C



""# p/* W(7129

&5:2.1&8 <2+*:( 79(<.'*7 02579(> &79(<10( 1*:2 -*+='9=K12 =+&42 '*1421/9&312 .( R&17*;>927=+&.(102 Z=1(:.'*7 '(1(+( & -*<&5(102 +=31&8 .'+(<&)/( , *:& 49/2K& <*-9&12+& .= =7+2<=W(7129( J&('* 1&.= &5:2<21&L <(+2'* :(1 79(1&4( S=./9&02, ;*/*B T12*-8*<1*./ 02 02<&1& 7*.-*<(9 =;2/1*./&T, !CND#> -*.+2 .;9/& M(G.1(2./(> 1(&;21*:(1 02 5( -9*M2.*9( 1( S'(<2;&0& = Y23=A -9&+&'*;

&1(=7=9(4&02 02 &./('(* <( -*+(5&)/2 (98&/2'/=92 ;*9( 6&/& .(<9K(1* = -*/926(;( ;*<291*7K&:*/( & 1(+(K210= 10&8*:&8 (<2':(/1&8 M*9;&, &./2 7*<&12 02 &5(69(1 & 5( =;2/1&3'*7 .(:2/1&'( -9& 623'*0 '*;&.&0& 5( .(*69(@(0> 7<2 .2 +(/&*&59(<2 -9*02'(/( <:( 1(0=9721/1&0( /281*+*)'( .&./2;(B @/(A3'. >.+.G1&K. PW-(A-N(F1R & N/1(1( =21(73'*, '(1(+2 J'(* 927=+&.(102 /*'( 92'2LA 69(12 .= 6&+2 .(;* <2* (;6&4&*51&027

-9*79(;( 5( -9*)&92102 Z=1(:.'*7 '(1(+( '*0& 6& .2 =3&1&* -+*:1&;> 625 *65&9( 1( :*<*./(0]# JG7.A.1. 32 3(,* A7. *A H.-/& B+(1&/(1. N/(1.> (+& *12 .= 6&+2 92:*+=4&*1(912 & =/281*+*)'*; & = 79(<&/2+0.'*; .;&.+= J1*:& ;(/29&0(+&> /2;2+0& 1( <=6&1& *< "D ; , &5=52/1(

-924&51*./L> ( *./:(921( 02 & =-23(/+0&:( (98&/2'/=9( J69(1( 02 1(<:&)21( ;(.&:1&; *6(+1&;./=6*:&;(A 1( -*/-*91&; ./=6*:&;( .= 69*15(1& +(:*:&L;# W-(A-N(F14 >.+.G1&H'( ,/.>( J*6&; 5(<(/'( 02 /926(+* &.-=1&/& 5( .(;* E 7*<&1(L <=7(

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e,(1i !:[X# L 3-(1&K(m(/+3B+(-G , -9&;21( M9(14=.'&8 92)210( 7:*5<21&8 '*1./9='4&0(A W(7129 1(0(:+0=02 =-*/926=12*69(P21&8 ;(/29&0(+(A .-*+012 5&<*:2 *6+(K2 /(1'&; ;29;291&; -+*3(;( & -9&3:9)@=02 &8:&<1&; =7(*1&4&;(A 6&+01( *91(;21/(4&0(A 9(< 1( \/(</6(81 5(:9)(:( .2 !NH!# , '*9&./&B :&<+0&:2 7:*5<212 .'2+2/12 '*1./9='4&02 .( .'9&:21&; 792<(;(> '*< ./1&31&8 579(<(, T&5( *:*7 9(<&'(+&5;( 1(+(5& .2 '+(.&31( -92<&79( 721&0(TS# m2\( T(0*+&'(9 ?.H9 !:[:#L[[# ,F -9&./=-( .242.&0& !CNC#A 6*7(/* 6*021( '29(;&'( 1(9(:1*0 M(.(<& J6&+01( *91(;21/(4&0(LA *.1*:( 579(<2 02 '*1:214&*1(+(1(, !CNN# W(7129 .2 -9&'+0=3&* =<9=K210= .242.&*1&./( 3&;2 02 ./2'(* 69*012 ;*@12 -9*/&:1&'2A<* /(<( *1 02 .;(/9(1 7*/*:* &1./&/=4&0*;> -( @2 =/*+&'* & *.-*9(:(10( 6&/& K2)@( J*6*921& .=12'& *< 1027*:&8 1(0:(K1&0&8 -9*02'(/(LX# `*)-(13'( )-.A&*1&K(9 ?.H9 ![^]#L!"# ,F *:* 1&02 .242.&0(A -*62<1&3'& 9(< 1( '*1'=9.= ='*1'=9214&0& IQ 9(<*:(A 1(01(-92<1&02 *./:(92102A " M(52B V M(5( , :&/(+1& <2* .( /9*69*<1*;)(+/29 .(+*;A VV M(5( , 5(<10& <2* 579(<2 J.( *<2+02102; 5( 8(9/&02 *< :92<1*./& & ;21&42LA

M(.(<( -9:2 M(52 02 *6+*K21( /(1'&; -+*3&4(;( *< 62+*7 ;29;29(> -9&3:9)@21&; 5(:9/10&;(J:&)2 *< !EHHH 5(:9/102:( *< ;2/(+(LA *< (+=;&1&0=;( J'*0& 02> =*-)/2> :2*;( 2'.-+*(/&.(1 1( -9*02'/=L , 3=:21& :21/&+(4&*1& */:*9& 5( =<=:(:(102 /*-+*7 :(5<=8( & /<#A 6(5&.> M(.(<( -9&52;+0( , 79(1&/12 T1(69(12T -+*32 , *<7*:*9 1( '+(.&31= 9=./&'(4&0= 1( 579(<(;( 6(1('( &/925*9(A =-*/926( ./('+21*7 '9*:( = *.:2/+0210= .92<&)1027 <2+( )(+/29 , .(+2 J.+&31* & '*<s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

/9(1.('4&02

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""# p/* W(7129

:# c/'7( 37.-*@ E.*B*+A( PCg, n-(01F*eCR9 ![^]#L^X# J'(;21 /2;2+0(4 = -9&.=./:= 4(9(]9(102 c*.&M(A W(7129*: 02<(1 *< &5+2/( 1( -*+02 49':212 (98&/2'/=92L ,F 02<1* *< <2+( '*02 021(0:&)2 <*-9&12+* 1027*:*0 92-=/(4&0&A 02<1*69*<1( J02<1*-9*./*91(L 79(P2:&1( .( /9(1.2-/*; &'=-*+*; J1( =5(1&; ./=6*:&;( *< *-2'2L = -92.2'=A -*< = 6+(7*; 12-9&;2/1*; 1(7&6= '(*+/(9=A '=-*+( .( =1=/9()102 ./9(12 J'(* 5(.:2<21( ='9(.1( /(:(1&4(L 51(/1* -+&@( 127* .-*+0(

J9(<& 6*+02 ('=./&'2 .;(10&* 02 5(-92;&1= '=-*+2LA .-*+0( 1( M(.(<& ;29;29 .( 6('(91&;)9(M*:&;( J.:& :&<+0&:& ;2/(+1& <2+*:&> 3(' & 7:*5<21& -9*5*9& -92.:=321& .= 6('9*;L> -*5+(/('=-*+2> 9(:1& (.M(+/&9(1& '9*:*:& & -92.:=321& )+0=1'*;A 8&7&021.'& -9('/&4&5(; J56*7

62.9(;1*7 -9(7;(/&31*7 ./(:( -92;( 49':21*0 (98&/2'/=9& <*)+* 02 <* 127*<*:(10(L , 49':( 0279(P21( 5( .(1(/*9&0=; Z*102 S=./9&02A =1=/9()10( <2'*9(4&0( & ;*6&+&0(9 ,F .242.&0.'&=;2/1&4&, W(7129 1&02 :*2+* M92.'* /281&'=> -( .= &51(< *+/(9( <:( ;*5(&'( *< ;29;29(> 7913(9.'*7;(/29&0(+(> 2;(0+( & ./('+(A '=-*+(B =1=/9()10( /(:(1&4( *< 9(6&4 , -(12+( =;2/1=/&8 &5;2P=:&<+0&:&8 7:*KP(> -9*M&+( TqT -92.2'( *<*5<* -*5+(@21&8A =1=/9()10*./ '=-*+2 -*<2+021( 1(<:( <2+( 62/*1.'*; /(:(1&4*; .( '*02 .2 ;*7+* 9='*:(/& +=./29&;( :&.2@&; '*9-(;(, -9('/&4&5(; & 8&7&021( ,F <=8*:&/* W(7129*:* 92)2102 -9&./=-( .:2/*0 :*<&4& = :&<= M*1/(12

&5 '*02 :*<( 12-92./(1* /232 /('* <( -(4&021/& ;*7= <*/(@& ;+(5> ( 12 =*6&3(021* =;('(/& -9./2 = -*.=<=A '+=-2 *< /(;1*7 <9:2/( 1(;291* .= '9(/'2 J5( D <* G *.*6(L> ('* -(4&021/<*6&02 1(-(< /*'*; .+=K62 <( 12 =512;&9& *./(+2A .('9&./&0( .( <:*01*; M=1'4&0*;B '(*(;6=+(1/( 5( 8&/12 .+=3(02:2 &+& P('*1&'*1 .( &.-*:2<(*1&4*; J56*7 2:21/=(+1&8 /2)'*@(:291&'( .( .+=8*;L, -*.+2 49':2> W(7129*:& -9*02'/& &59(K(:(0= &5:2.1= <:*01*./A =/&+&/(91& J1( -9# G(1./.(+&G*7(12 l1&7./G&-.-3'2 N&N+&*-.'2R &+& ./(;621& '*142-/& *<+&'=0= .2 92<='4&0*;*91(;21/(> 9(:1&; -*:9)&1(;(> -9(:*=7(*1*; ./9*7*; 72*;2/9&0*; , 3-(,N.1. G@/(A.J6&.'* X*.=LA 1(.=-9*/ /*;2> 12'& -9*02'/& & <(+02 .= -=1& '+(.&31&8 ;*/&:( J1( -9# B*3+.A10&B/*0.'(-4 Cc/'7( B*N.A. PB/&,&/0(RCRA = *:*; -29&*<=> W(7129 .:2 ;(102 -9*02'(//(&5:*<&> ;1*7& -9*02'/& .= *<6&021& JT&1&3-(/3-7* /(-(9 g'(A.,&0( +.B&F 2,.-1*3-&9 C`(+(-(N.H'*@ A/2)-7(CR[# `/*0.'(- ,2G.0( K(/( U/(10. Z*3&e(9 m(/+3B+(-G ,F 1(9*3&/* 02 *.-*9(:(1A W(7129 7(

-92<+(K2 0*) !NHH# 1( 12-9(:&+1*0 +*'(4&0& J'(* '*< s2;+0(12 6(1'2L =.-2* 02 <( *.;&.+&'*;-('/1= )2;=A :*<&* 02 9(3=1( * *<1*.= -92;( i(9+.'&9482 *<;(8 -*92< 102 J/9=<&* .2 <(&562712 -*5(0;+0&:(102 ;*/&:( .( i(9+.'&9482LA !NHN# , 1*:& -+(1*:&> -92'*;-*1*:(1 /97&579(<10*; 9*612 '=@2 & M*1/(12 J1(.-9(; 9*612 '=@2L> !N!H# , ;('2/( <2+( ;=520( =

-9&9*<1*0 :2+&3&1& J1( +*'(4&0& -92<:&P21*0 5( ;=520L ,F *:* &5(5&:( +(:&1= *7*93210( &1(7*:2)/(:( 12=.-28 -9*02'/( 6(9 1( *:*0 +*'(4&0& JW(7129 02 -*1*:* =9(<&* 1(49/2 5( <9=7=(+/291(/&:1= +*'(4&0= 1( '*0*0 02 /926(+( 6&/& & S'(<2;&0( +2-&8 =;2/1*./& , *< .:27 *:*7( 1&02

6&+* 1&)/(L

!^# =/2@( 7&+( D(@1./ 2 M&-.+A*/e29 ![!"# ,F ./9*7( & 2+27(1/1* -9*-*94&*1&.(1( (98&/2'/=9(> 625 ./&+.'&8 2+2;21(/( & *91(;21/(+12 -+(./&'2A 9(:1& 5&<*:&> =.2321& -9*5*9&> 02<1*<2+1& ./=-4&:29(1<2 J'9(0 .242.&02L!!# l1&7./G&-.-3'( N&N+&*-.'( ,F 1292(+&5*:(1(

, -.*/&03'& /(A*7& & 2/N(1&G(,4 J'(* /2*92/&3(9 1(./(:+0( .2 1( s2;-29( & 1( R(.'&1(A ]'10&@.4 3'&K.9 B/*0.'-& & &G7.A.1. G@/(A. P!:["#R, b/('-(- CT*A./1( (/F&-.'-2/(C9 !:[S# ,F 9(5;(/9( *<1*. ;*<291*7 K&:*/(> /281*+*7&02>(98&/2'/=92A .;(/9( <( ;*<291& *6+&4& ;*9(0= *<7*:(9(/& 1*:&; ;(/29&0(+&;( & .(:92;21&;

-*/926(;( <( 6& 6&+& -9&8:(/+0&:&A *1& ;*9(0= 6&/& &59(5 <9=)/:21*7 & /281*+*)'*7 9(5:*0(A =+*7=(98&/2'/2 *1 :&<& & '(* =;2/1&3'= & '(* &1K21029.'=

, W(7129 .2 -9&'+(10( 92(+&./&31*; '*142-/= (98&/2'/=92> ( *<6(4=02 <*-(<+0&:*./> -( ./*7( & 62.;&.+212 (.-2'/2 &./*9&4&5;(

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""# p/* W(7129

, W-2A&0( CD.+&'& @/(AC9 ![!!# J92(+&5(; -9*/&: W291&2<+&48=17,( J=+2-)(:(10(LA "I ./9(1&42/2'./( -92< .:*0 EH,/& 9*P21<(1L ,F 1(0:(K1&0& W(7129*: /2'./ &5 *6+(./& =96(1&5;( J1(./(+(/('* )/* 02 -9*M# .( i*+=;6&0( O1&:295&/2/( /9(K&* *< 1027( /2'./ 5( ;2P=1(9*<1& '*1792. *=;2/1*./& -+(1&9(10( 79(<*:( = b0= c*9'=LA W(7129 .2 &1/292.*:(* 5( 79(<.'& 421/(9 & 5( :2+&'&79(< '(* &59(5 +*7&'2> 2'*1*;.'&8 & '=+/=91&8 -9*42.(> -( *<6(4=02 /(<( .1(K12 (+/291(/&:12

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p.;(1B -9*M&/(6&+1*./ 0(:1&8 =+(7(10(LAW(7129*:( ./=<&0( &5121(P=02 <2/(+01*)@=> '('* -9*02'/1*7 /('* & 2'*1*;.'*7 <2+(A *.1*:12W(7129*:2 -*./(:'2 :&<&;* 0*) = '*1'=9.1*; 9(<= 5( 6.1./(+1& B+(1 ?.H( &G !:[<#A 1&5

-92<+*7(B .(*69(@(0> =96(1&./&3'& 6+*'*:&> :&.&1( 579(<(> /97*:&> ;*1=;21/(+1( 5<(10(J&1.&./&9(* 0( 1( -9*6+2;= .(*69(@(0(B .;(/9( 12*-8*<1*; 79(<.'= K2+251&4= J-*<52;1= &+&1(<52;1=L> '(* & 9(<&0(+12 ;(7&./9(+12 & '9=K12 -9./21*:2L> 7<2 .2 .='*6+0(:( .( /21<214&0*;

=+2-)(:(10( & T-+(1&9(12 .+=3(01*./&T J&.-*+0(:(+( .2 1(;291&; '9&:=<(102; ./(5(> 5('*)2102;=7+*:(> &5;2)/(102; :&5=9(> )/* -* W(7129= 12 *6*7(@=02 79(<> :2@ .'91(:& -9(:2 =+&42L ,FJ'*142-/ m(,&+( f&-.( * T=;2/1&3'*; *6+&'*:(10= 79(<*:(TLA J&.&32 <&1(;&31*./ 79(<( '(*92(+1*./ ,F =3&1&/& :&<+0&:&; =1=/9()10= ./9='/=9= & -9*42.2 9(<& <*-(<+0&:*./&LA /('* =79(M&3'*; <2+= ./=<&02 W(7129 <(02 <2/(+0(1 -9&'(5 CIIJJ A&3-/&'-( ?.H(C> .( *9/*7*1(+1&;=+&4(;(> ;*1=;21/(+1&; 0(:1&; -9*./*9&;(> :2*;( 92(+&./&31*7 <=8(> 1(.=-9*/ s&2*:*;'*142-/= -=1*; /2(/9(+&5;( 625 ./:(91*7 *-9(:<(10(, &1.-&9&.(1 02 6&* p.;(1*:&; -+(1*; a(9&5(> '*0& 02 .;(/9(* ;*<2+*; 5( .:2 2:9*-.'279(<*:2 ;2/9*-*+2

, D(@1./*7( )'*+(9 !:[]# L ![!"# J=/&32 1(B r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j &5 Y23(> ( *./(+& &5 <9=7&8 '9(02:(

;*1(98&02A .:('2 7*<&12 '*1'=9&.(+* 02 QH,/(' '(1<&<(/(> ( 6&+* 6& -9&;+021* *'* CA -9&02; .2*<:&0(* /('* )/* 6& '(1<&<(/& -92<(+& !H,/(' 1(49/(> -*.+2 327( 6& =.+2<&* '9(/(' 9(57*:*9 .(W(7129*;A -92.=P&:(+( 02 *6&31( 79(M&3'( :2)/&1( & W(7129*:( &1/=&4&0( J&1(32 .= =321&4&

-*.2<*:(+& &5=52/12 79(M&3'2 .-*.*61*./&> '*02 6& 32./* -*/&.1=+2 (98&/2'/=9= J'*1'=9&)=.+&'(9&;(LLA 1( )'*+& 02 =3&* 02<(1 69*0 (98&/2'(/( '*0& .= *:<2 6&+& '(* 1( -*.+2<&-+*;.'&;./=<&0(;(> -*12<2+0'*; =0=/9= .= *<9K(:(1& .(./(14& -*.:2@21& '*;21/(9&;( ('/=2+12(98&/2'/=92> '*0&;( 02 W(7129 -9&<(:(* *.*6&/ 51(3(0A 1&02 <*-=)/(* *<.=./:*:(102> (+& 02

-*<9K(:(* '9&/&3'= (97=;21/(4&0=A /2K&)/2 9(5;(/9(10( 02 6&+* 1( 8=;(1&./&3'&;> ( 12 1(/281*+*)'&; (.-2'/&;( (98&/2'/=92A *< =/*9'( <* -2/'( -92 -*<12 ./=<21/& -9:2 <:2 7*<&129(<&+& .= -9*02'/2 -*< 1(<5*9*; ;(2./9( & 1027*:*7 /&;(A 1( /92@*0 7*<&1&> ./=<21/& .=.+*6*<1* 6&9(+& /2;= J-92;( .:*; 1(8*P210=L> '*0( 6& 6&+( 9(59(P&:(1( '(* <&-+*;.'& 9(<A

.(./(:1& <2* 1(./(:2 6&+( .= ./=<&0.'( -=/*:(10( *97(1&5*:(1( -9:21./:21* +2/&A W(7129*:*.*621 1(3&1 9(<(B ('* 6& .( =321&'*; -*32* <( -9&3( * <9=)/:21&;> -*+&/&3'&;> M&+*5*M.'&;

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""# p/* W(7129

&+& -*5*9&)1&; <*./&71=@&;( J12 * ;=5&3'&; ,F T;=5&'= =*-)/2 1&02 9(5=;2*T> &50(:( 02 02<1*7 =321&'(L /* 6& 51(3&+* <( -9*02'(/ /926( -929(<&/&A ;1*7& ./=<21/& .= .2 &5<9K(:(+&9(<*; = (/2+02&;( 623'&8 (98&/2'(/(A 1( )'*+& .= 9(.-&.&:(1& '*1'=9.& J-*<./&4(0 5( M29> (+&

62.-*)/2<1* /(';&32102 '(1<&<(/(L> 7<2 02 1(79(P&:(1* 1*:3(1* &+& ./=<&0.'&; -=/*:(102; ,'9=1()'*+.'2 '(9&029( 6&+( 02 R&;.'( 1(79(<( J6&+* 02 :&)2 1(79(<( J9(5+&3&/* .= .2 5:(+2L '*02

.= &;(+2 9(5+&3&/= .:98=A r9(1< a9&` <2 R*;2 ,F 62.-+(/(1 6*9(:(' = -(+(/& W2124&0( = R&;=J/(<( (=./9*=7(9.'( (;6(.(<(L =5 IHHH '9=1( ./&-21<&./(> /0# 1(79(P21& 6& -* -*:9(/'= /926(+*1( &5+*K6& S'(<2;&02 <( -92<./(:& .:*02 .'&42 .( -=/*:(10(> ( .:2 *./(+* 02 6&+* .+*6*<1*A

-9(:4& &./9(K&:(10( =321&'(B '9&/&3'* -92&.-&/&:(102 927&*1(+12 (98&/2'/=92 &> 1( <9=7*0 ./9(1&>12*6&<29;(029.'& ./&+A '(.1&02 .2 0(:+0( & 2'.-29&;21/&.(102 .( (-./9('4&0*; J-=1*;.&;6*+&5;(LA &./9(K=02 .2 M21*;21 6*02A 1*:&12 = *6+&'= & ./9='/=9& *6&31* .= M=1'4&*1(+1**-9(:<(12A <2+(/1*./ )'*+2 & (98&/2'(/( *'* )'*+2 -9(@21( 02 = ;2P=1(9*<1* =7+2<1*;3(.*-&.= C=./ g/KF&-.'-C> <&92'/*9( M*1 ]2+<29(A 3(.*-&. 02 6&*> -9('/&31*> T*97(1T.(:92;21&8 /21<214&0( = (98&/2'/=9&A /926( 92@& & <( .= =321&4& )'*+2 =7+(:1*; -*./(0(+&=.-2)1& & :2*;( =/&4(01& (98&/2'/& Jp+69&8> [*M;(1> c*K2M a+231&'> ?('. ](6&0(1&> [=629/r2.129> a(:2+ c(1('L

L M*e,(1 PZ*3.e M*ee,(11R9 !:X^# L ![;S# J!N!"# -*./(:+021 5( 79(P2:&1.'*7 .(:2/1&'(Y23(A !N"E# 3+(1 K&9&0( 5( X&7= b(9*<( J<*.+2<1* 6&* 5( 1(-92<12 -9*02'/2> 5( 9(5+&'= *< W#p9/2LL

, 2-&K(0&4!# W(7129 J-*8(P(* W(7129*:= )'*+=> 6&* &5:(192<(1 ./=<21/L"# ?2'&1/*) J&5+*K6( = Y23= !NHH#LI# 62+7&0.'& & M9(14=.'& S9/ b*=:2(=, !CNE# =32./:=02 = ./:(9(10= TY23'2 .242.&02T, !CNN# -*3&102 <( -92<(02 1( )'*+& -9&;210212 =;2/1*./& -9& ;=520= = Y23=

, A.+(4!# b/@*7(H'( /(10( CgB*+*1C 2 ?.H29 ![^^# ,F 21/29&029> 1(-(< 1( 5(:*0&/= .242.&0=J-92M&10212 +&12(912 M*9;2 , -*32/(' =<(+0(:(10( *< 5(:*0&/2 .242.&02 1( TS-*+*1=TLA :2@!NH!# 5(*'=-+0( 7( (-./9('/1( M*9;(> ':(<9(/> &79( 491*7 & 62+*7A '(* & *./(+2 .242.&*1&./2&1/292.=02 .2 5( 5(1(/.'= -9*&5:*<10= -92<;2/( -9&;210212 =;2/1*./& J= -(:&+0*1= T.242.&02T1(3&1&* 02 -*./(:'= 5( Y2/*:21*:= ./(/== J'*0= 02 &5:(0(* <9=7& =;2/1&'L = .:*; (-./9('/1*;./&+=L, !NHI# *.1&:( .( T*G./*, C?.H'2 /(A&*1&K2 G( *N+&'*7(10.C '*0( M=1'4&*1&)2 <* !NII#J9(<&*1&4( 02 ./2'+( .:2/.'= .+(:=A [*M;(1 0= 02 5(/:*9&* 695* & 625 *69(5+*K210(L & &5 '*02 .=

&5()+& 69*01& :&.*'* ':(+&/2/1& -9*&5:*<& , .:2/.'( .+(:(, !NHI# , -*.+2<10& 69*0 CD./ W(K/2,C JT\:2/* -9*+2@2TA .( 10&; 02 -92./(+* 5+(/1* <*6(T.242.&02TL9 ![^]# ,F =32./:=02 = &5<(:(10= 1*:*7 3(.*-&.( J'(.1&02 -+(/M*9;2 1(4&*1(+ ,.*4&0(+&./&3'*7 -*'92/(L CM*. D(/-.C J-92;( :9/1*; 623'*; -92<79(P=L> 5(*'=-+021*7T-*:(/'*; -9&9*<&T J-+(/M*9;( 1(4&*1(+ , .*4&0(+&./&3'*7 -*'92/( 02 = :92<1*./&;( W9/1*779(<(L"# '(* B/*0.'-(1- 5+&-1*@ N.H'*@ B/.A@/(p( M*. D(/-.9 ![^!#L^;#> 79(<& %.-/& 7&+.i B/7(PG( m*+*,(1( T*G./( J.+&'(9 ,.242.&*1&./(LL 02 = ./&+= 217+2.'2 M922 (948&/24/=92 J.*6*<12(98&/2'/=92L> (+& .2 !NH"#> [*M;(1 *'92@2 '+(.&31&02; &59(5= 5(.1*:(1*; 1( W(7129*:&;'(.1&0&; 9(<*:&;(A <* !NHH# [*M;(1 02 9(5:&* <2'*9(/&:1& ./&+<# `2'./3A*/e 3(1(-*/&02,9 ![^<# ,F -9&6+&K(:( .2 .:*; =3&/2+0= W(7129=A (-./9('/1(

:*+=;&1*51*./ J'+(.&31*./ & ./9*7*./L & ;*<291*./ ,F =/&4(0 1( 9(1( <2+( X2 i*96&502(A +&3& 1(X*.(

!I"



""# p/* W(7129

]# `(+(-( W-*'+.9 ?/&3.+9 ![^;#L!^# ,F 92;2',<2+*A (/2'/*1&31*./> *<9&4(102 *< ./9='/=92 &;(.2> .&;6*+&./&3'( 2./2/&'( J.:2<21( '+(.&31( <2'*9(4&0(LA 5&<*:& J/(1'( ;29;291( *6+*7(M(.(<2 .( ;2/(+1&; .-*02:&;( ,F 2+27(14&0(L> *&:&321& 8*9&5*1/(+1&; & :29/&'(+1&; +&1&0(;(><2+=0= '(* /(1'( .-*021( -+(/1( J.-*021( 1( =7+*:&;( ;2/(+1&; /9('(;(LA /*9(10> '*0& -*<.2@(1( Z(9;)/(/> 5(:9)(:( .2 '&-*:&;( J32/9& ;=)'( '&-(L '*0& <9K2 .242.&0.'= +*:*9 , '=-*+=

J'=-*+= .( +*:*9*:&; ;*/&:*;LA -9*02'/*; 02 *6=8:(@21* & 42+*'=-1* =1=/9()102 =92P2102Ji+&;/*:& ;*5(&4&> & /<#L

, *3-(+( A.+(4t !N!!# , a(:&+0*1 S=./9&02 1( ?2P=1(9*<1*0 &5+*K6& = R&;= ,F '+(.&4&5(;> 1(0(:+0=02;*1=;21/(+1*./ ?=.*+&1&02:*7 Tb*:*7 R&;(T , '(* Y2921.*:( (;6(.(<( = \(1 a2/29.6=97=;# j&G ,.p23*N1* 3+&H1&F N.H'&F 7&+(9 ![^;#L!]#S# JG+*>N( Y./'N21AL(9 m.+1 L g23-/&03'& B(7&+0*19 ![!]# J<29&:(/ 12*'+(.&4&5;(LX# b./(3(3-. '2\. 2 ?.H29 ![<"# J2'./92;1& -=9&5(;L:# D.1.K&0(13'* N&0.1(+. L g23-/&03'& B(7&+0*19 ![<]#

L 8+N/&F PZ*3.BFLT(/&( 8+N/&KFR9 !:SX# L ![^:# J623'& -29&*< p+69&8(B 7&+.i 7&). .1-./&0./(P`+(7( 3*N( 2 '2\& WB&K./Ri '(e. N&A./,(0./ J1(0:291&0& -9*&5:*< Y23'2 .242.&02> 5(.1*:(11( 6*7(/./:= *91(;21/(A *79*;(1 69*0 -+(1*:( ,F ":^^^ K/-.>(L, -*8(P(* Z9K(:1= )'*+= =;2/1*./& & 5(1(/(> '*< m(,&+( f&-.(A 9(<& = Y23= & 5(:9)(:(S'(<2;&0= (98&/2'/=92 '*< M(G.1(2./( !CNI#A <*6&* 02 R&;.'= 1(79(<=> -=/=02 -* V/(+&0& &q=1&.= Jp+69&8 & [*M;(1 , 1(0<(9*:&/&0& W(7129*:& =321&4& 6&+& .= -*< =/&4(02; Tr+(57*:.'232/:*9'2T & *;(P&0(1& 275*/&31&; :&5&0(;( .+&'(9(B ?*529( & i+&;/(, !CNI#,NC# 9(<& '*< W(7129(, !CNE# *.1&:(> .( W(7129*:&; 6+(7*.+*:*;> C?.H'2 3.K.3&02C> 5(02<1* .( Z*G.e*,M*e,(1*,9 m*+*,(1*, T*G./*, J.+&'(9L & 623-(7*, m+&,-*, J.+&'(9L> 9(<&.=-9*/./(:+0(10( ('(<2;&5;=

, A.+(4!# JG+*>N.1( G@/(A( ?.H'. 3.K.3&0.9 !:[X#L[:# J-(:&+0*1> .(79(P21 5( Q ;2.24&> =;2/1&4&9(<&+& 62.-+(/1* , .&;2/9&31*./> 5('*)21& 5&<*:&> +*:*9*: ;*/&: -*.:2@21 S-*+*1=LA -*32/1(.'&4( 02 :29*:(/1* i+&;/*:( J'*0& 02 7+(:1& -*'92/(3LA 1(/-&.B TW92;21= 1027*:( =;2/1*./>=;2/1*./& 1021( .+*6*<(TA '=-*+( .( ;*/&:*; +*:*9( J*.+*1021( 1( 32/9& '9(/'( -&+*1(L, H(3*B&3 CD./ W(K/2,C JCW7.-* B/*+.\.CR ,F 7+(.&+* Y23'2 .242.&02 J1( 1(.+*:1*0 ./9(1&.+&'(9.'& ;*/&:B ='9(.1& K6=1 .( '*92102; -=1&; K&:*/( '*02 -9*6&0( <9:21= -*.=<= & =9(10( =52;+0= & &.-*<> /* 02 p+69&8*:* -*+(5&)/2B T\:2./(1 -*:9(/(' -+*<1*./& 12.:2.1*7TL, p+9&8 !CNN# *<+(5& = Z9;)/(/> 1( -*5&: [2.21.'*7 1(<:*0:*<2 5/13-( E2A7&@(> '*0&

*'=-+0( =;2/1&3'= '*+*1&0= &5 .:&8 12;(3'&8 '9(02:( .( 4&+02; *61(:+0(10( (98&/2'/=92A !NH!#=;2/1&3'& 925=+/(/& [(6&/(/( -92<./(:+021& .= 1( &5+*K6& '*0( 02 */:*921( ;&./&4&./&3'*;4292;*1&0*; Cf1('C JT-9*9*'T .2 .-=)/( .( 5+(/1*7 -*9/(+( 579(<2 & = 9='2 -9&;( '*;(<'9&./(+( '(* .&;6*+ *6&31*7 ;(/29&0(+( -92/:*921*7 = =;2/1&3'* <2+* J'(* )/* .2 =7+021&'12'(< ;210( = <&0(;(1/LL 1( ./2-21&)/= [294*7*:2 '=@2 J./2-21&)/2 p+69&8*:2 _91./ X=<:&7'=@2LA = Z(9;)/(/=> p+69&8 ./:(9( -*< =/&4(02; W*0.&0(> ?2'&1/*)(> i+&;/(> /2K2@& ./(+1*

02<&1./:21*; 1(3&1= &59(K(:(10("# 2 =(/,)-(-2 02 .(79(<&* 3*B3-7.1& (-.+0.9 '2\2 5/13-( E2A7&@( JK&K( '*+*1&02 .( C(/2+02(> ='9()21 0=K1& =+(5 .( *79*;1&; ./(/=(;(L ,F 1(0.;2+&02 <2+*> :98=1.'(;*1=;21/(+&5(4&0(A :&.*'(> 7+(/'( M(.(<( .( 8*9&5*1/(+1* -*./(:+021&; -9*5*9&;( J.2:291**.:2/+02102L

<# W7(AN.1( '2+(9 ![^!#L^:# ,F '=+( 5( :213(10( , 25*/29&31( & .;2+(> '*0( .:*0*;.'=+-/=9(+1*)@= :2@ 1(0(:+0=02 <2+( b(2-( & T.1A.+3*1(

!II



""# p/* W(7129

, 42* '*;-+2'. = '*;2 02 '=+( .( *'*+1&; &5+*K621&; -(:&+0*1&;( &;( -&9(;&<(+1& *6+&' &.(79(P21 02 &51(< 92529:*(9( 5( :*<=# Y&* 02 T'9=1( 79(<(T# a* p+69&8*:*; 49/2K= /926(+* 02<( +&3& 1( -+(1&1.'& +(:&9&1/ 7=./*7 9(./&10(> 3&0( .2 6*0( ;210( .( 7*<&)10&; <*6&;(]# O*N1( '2\( b&K9 =&G.+A*/e9 ![^S# ,F = '+(.&4&./&3'*; ;(1&9= J-*:9(/(' 12'*; .'9&:21*;'+(.&4&5;=L> *< (9;&9(1*7,62/*1( -9&6+&K(:(102 a292=

;# D&+( CU(01F(+3C 2 m.+12 ,F :2+&'( :&+( 5( -9*&5:*P(3( 4&7(9( ](018(+.( = i2+1=

!ID



"I# S<*+M X*.

"<# gA*+e E*3

L gA*+e E*3 PgA*+e E**3R9 !:X^# L ![<<# ,F & .(; = -*32/'= -9&-(<(* .242.&0&> '(.1&02 *)/9*'9&/&'*:(* J02<:( .2 *-&9(*LA 625*91(;21/(+1*./, * >&7*-24, X*. 02 :2*;( .+*K21( +&31*./ & -*0(:( = &./*9&0& ;*<2912 (98&/2'/=92 J1( -9:& -*7+2<<:*.;&.+21 & '*1/9(<&'/*9(1> 3(' 5(7*12/(1A -&/(10(B J625 *<7*:*9(L <( +& 02 9(4&*1(+&./(>/9(<&4&*1(+&./(> .+2<621&' '+(.&4&5;(> -&*1&9 ;*<2912 (98&/2'/=92> (98&/2'/( <(<(&./( &+&

-*.+2<10& &5<(1(' <2'(<21/1*7 S/1 b*=:2(=A <( +& 02 .+2<&* %&'()'= )'*+=> &+& X2 i*96&502(>&+& r9*-&0=.(LA 32./* 02 &5=3(:(1 02<1*./9(1*> ( .(; .262 02 :&<2* =1=/(9 '*1/2'./( &./*9&0.'*7'*1/&1=&/2/( /9(<&4&02 J.;(/9(+& .= 7( T=.(;+021&; (:(1/=9&./*; = -*/9(5& 5( (98&/2'/=9*;.:*7( :92;21(TL, gA*+e U/(1G m(/+ D&'-*/ T(/&( E*3 9*P21 02 !CEH# = Y91= J!HH '; .2:291* *< Y23(A/97*:(3'*; &1<=./9&0.'*; 421/9= S=./9*=7(9.'2 ;*1(98&02LA */(4 ;= 02 6&* '(;21*925(4 '*0&

02 &5=3(:(* .+&'(102 & :(0(102> =;9* !CEN#> /('* <( /= :2)/&1= 1&02 ;*7(* =3&/& *< *4(> :2@ 02 /*

12'( -.&8* , :25( &+& *<9(5 /=72 5( *42;, .'*+*:(102B 5(-*32* = Y91=> !CCD# -*+(5& = Y212<&'/&1.'= 7&;1(5&0= '*0= 695* 1(-=)/(A=-&.=02 .2 = b(4&*1(+1= )'*+= 5( =;2/1*./ & 5(1(/./:* = R(08216297= J8/2* <( =3& 5(;28(1&3(9(L 1( '=9. ;28(1&'2> (+& & /* 1(-=)/( & -926(4=02 .2 1( /281*+*7&0= 79(P210(> ( 1('9(0=> !CCN# .2 .'9(.&* 1( ;()&1.'&; '*1./9='4&0(;( = *':&9= b(4&*1(+12 )'*+2 5( =;2/1*./ &5(1(/./:* = Y91=, (98&/2'/=9= 02 -*32* <( =3& 1( :&)*0 /281&3'*0 )'*+& = Z925<21=> <( 6& -* *<.+=K210= :*01*79*'( -92)(* = Y23 1( ('(<2;&0=A !CN"# :9(@( .2 = Z925<21> (+& 12 =.-2:( <( 5(:9)& ./=<&02A 6&*

02 *.92<10& ./=<21/> (+& 02 &.'(5&:(* :2+&'= .-*.*61*./ 5( 9(< 1( 79(<&+&)/= J=;2* 02 <('*1/('/&9( .( 5(1(/+&0(;( & 5&<(9&;( & <( 421& 10&8*: 9(<L, !CNI# *<+(5& = S;29&'= JI 7*<&12L <( 6& -*.2/&* .:2/.'= &5+*K6= = %&'(7= J1( '*0*0 02 T*<(/(

-*)/( X# \(+&:21=TL> 7<2 .2 =-*51(02 .( <2+*; \(+&:21( J& '10&7*; Tp91(;21/ = (98&/2'/=9&TLA= S;29&4& 02 6&* = b0= c*9'= & 5(<9K(* .2 <* !CNQ#A 6&* 02 &1-92.&*1&9(1 *6+('*<29&;(>./(;621*; (98&/2'/=9*; & <9=)/:21&; =92P2102; S;29&'2 J&.'=./:* '*02 02 ./2'(* = S;29&4&

-*;*7+* ;= 02 <( <2M&1&)2 .:*0= '9&/&'= =-=@21= 2:9*-.'*0 '=+/=9&> -*+&/&4& & (98&/2'/=9&L, -* -*:9(/'= &5 S;29&'2 ./2'(* 02 92-=/(4&0= '9&/&3(9( M=1'4&*1(+1&8 -92<;2/( & 92-=/(4&0=(98&/2'/2 21/29&029&./2# q('* 02 = -*32/'= & 9(<&* /.'*13-/2'K&0. B/*A(71&K(9 '(e.-./&0( &3-(1*7(# V;(* 02 :291=> =7+2<1=> &1/2+2'/=(+1= '+&021/2+=> (+& .= 1027*:2 (;6&4&02 6&+2 :2@2, -* -*:9(/'= !CNQ#> 1(./(1&* .2 = Y23=> 7<2 -&)2 -*+2;&3'2 H+(1'. &5 9(51&8 *6+(./& '=+/=92>= (/;*.M29& '9&52 ;*9(+( & <9=)/:21&8 :92<1*./& J7=)&+( 7( 02 /( '*1529:(/&:1( & *79(1&321((/;*.M29( = ;*1(98&0&> ( S;29&'( 7( 02 '(* ;&/ -9&:+(3&+( -9('/&4&5;*; & .+*6*<*;LA '92@2 .2= '9=7= -9&0(/2+0( Jm/(23(9 n.1N./@(9 D&-.1)-(01(9 b/('+( & m*'*)'.L &5 9(51&8 *6+(./&

=;2/1*./&> '*0& ;2P=/&;> <2+=0= '(* 125(:&.12 +&31*./&> ( 12 '(* =;2/1&3'& -*'92/A 5(02<1&3'(49/( , 3B(0(10. .-&H'*@ & .3-.-3'*@> *-92<2+02102 5( *@*+0.1.9 3-/*@. e*/,. J625 *91(;21/(L &3-/*@*3- 2 &GN*/2 3/.A3-(7( J-9*/&:1&' .:&8 ./&+*:( J3(' & -*0;( T./&+TLA -9*02'/*:(* 02 =@2 1(*.1*:= 10&8*:*7 M=1'4&*1(+1*7 21/29&029(> <*' .= M(.(<2 &5=52/1* 02<1*./(:12> '*< 0(:1&8*602'(/( , M(.(<2 12 .;20= 92;2/&/& =96(1* /'&:*L, X*. -*3&102 <( -&)2 -(9(+2+1* .( 1(./(1'*; .242.&02 J-&.(* 02 * Y23= 1( -92+(5= <:( :2'(

-92-=1*; *3(0( & .+(6*./&LA 12 .=-9*/./(:+0( .2 2'+2'/&4&5;=> :2@ +(K1*; -92<./(:+0(10=>.'9&:(10= 92(+12 ;(/29&0(+1*./& &5( -9&:&<( &./&12A -+(<&9( 5( &51(+(K2102 1*:*7 *6+&'*:1*71(3&1( &59(K(:(10( 1*:&8 /281&'( 79(P210( & ;(/29&0(+(, '9&/&'=02 & &./*9&4&./&3'= &;&/(4&0= (1/&3'2 <2'*9(/&:1*./& & -9('.= (98&/2'(/( S9/ b*=:2(=J7(1 A. D.+A.(9 8+N/&F(9 M*e,(1(L 5( '*02 02 .;(/9(* <( .2 6(:2 62.;&.+21&; M*9;(+1&;

(.-2'/&;( (98&/2'/=92 & <&5(01( J<*/29&:(102; *6+&'( -92<;2/( :2@ -9&+(7*P21&8 10&8*:*0

!IG



"I# S<*+M X*.

M=1'4&0&A <&:&* .2 -9('/&4&5;= S;29&'(1(4( & <&.'92/1*./& _17+25(A *6*K(:(* 02 2./2/.'=3&./*/= (=/*;*6&+(> 8:(+&* :*<*:*< 56*7 M=1'4&*1(+1*./&> ./9=0= 56*7 :&)2./9='2 -9&;212L, 7*<&12 !NHI# *60(:&* 02 <:( 69*0( C=(3 g1A./.C PC=/2@*CR> T3(.*-&.( 5( =:*P21025(-(<12 4&:&+&5(4&02 = S=./9&0=T> '('* 02 ./(0(+* = 5(7+(:+0=A .:2 3+(1'2 1(-&.(* 02 .(;, *'9=K21 K21(;( J32/9& .= 6&+2 1(051(3(01&02L 1(0+2-)&; <2:*0'(;( = Y23= JTK21( /9(K& 0('*7

;=)'(94(TL, X*. 02 ;1*7* -=/*:(* , a(9&5> X*1<*1> a9(7> Y29+&1> W2124&0(> S5=91( *6(+(> ?(<9&<>r93'(> V/(+&0(> S+K&9> ### 9(51&; -*:*<&;(A &;(* 02 .-*.*61*./ =3210( 1( +&4= ;2./(, !N!"# 1( &1&4&0(/&:= W(7129( *.1&:( 37*02 )'*+2A -9*79(; 02 6&* *6*021 '+(.&4&5;*;> =1(;29& <( .2 =.-*./(:& '*1/&1=&/2/ .( /9(<&4&0*; -92 UVU :# JT.(<()10*./ 02 &579(P21( 1(

-9*)+*./&> '(* )/* 02 -9*)+*./ 1( :92;21= -92/8*<1*;TLA '=9. 02 -92<:&P(* & <=7(3'( ./=<&0.'( -=/*:(10( = r93'= &+& V/(+&0=A 9(/ -92'&<( *:= ('/&:1*./> (+& 02 !N!N# X*. *61(:+0( = *':&9=.:*7 6&9*(A B*G1(-& 2H.1&K&4 j*0-/(9 n&1A+./9 51@.+,(1, !N"H# &;21*:(1 02 5( C@+(71*@ (/F&-.'-2 W-(,N.1*@ *A.+0.10( ?.H'. *B)-&1.CA =-9'*.&.'921*; &1/292.*:(10= 5( 92)(:(102 ./(;621*7 -&/(10( 9(<1&'( J1&G B/*0.'(-(L> !N""# 02;*9(* <( 1(-=./& -*+*K(0 56*7 12.+(7(10( .( 79(<.'*; 6&9*'9(/&0*;

, .2+& .2 = a(9&5> 7<2 6*9(:& Q 7*<&1( *< !N""# <* !N"C#A /= .2 =-*51(* .( +0=<&;( '(* )/* .=?(+2,\/2:(1> X&9.(> E. m*/N&G0.9 `&- T*1A/&0(19 b/&3-(1 c(/.A !N"G# -*.2/&* 02T;2P=1(9*<1= &5+*K6= <2'*9(/&:12 =;2/1*./& & .(:92;212 &1<=./9&02T J*97(1&5*:(* 02 H.-/&'*1e./.1K&0. 1( W*/N*1&A &('* 02 6&* ;2P= (:(17(9<*; .:*7 :92;21( *3=:(* 02 .:*0=

02<&1./:21*./L, -*:*<*; QH,/*7 9*P21<(1( J1( '*; 02 6&* *'9=K21 69*01&; 2:9*-.'&; &1/2+2'/=(+4&;(L>!NIH#> )&9*; _:9*-2 *60(:+021& .= *;(K& 1027*:*0 +&31*./&> &5 -29( 1(0:&P21&0&8 +0=<& 2:9*-.'2'=+/=92 /*7( <*6(, 1(9=)21*7 5<9(:+0(> 7*/*:* 7+=:> 9(<&* 02 .:2 ;(102 & ;(102, X*. 02 =;9* !NII# = Y23=A !NGC# 79(< ;= 02 -*<&7(* .-*;21&' J:2*;( 02<1*./(:(1L -92;(

02<1*0 1027*:*0 .'&4& &5 !NI!#

, B&3(1( A.+(4, *60(:&* 02 <:2 '10&72B, CJG*@7*/.1* 2 B/(G1*C9 `(/&G9 !["!# ,F 56&9'( 2.20( & 3+(1('( 1(./(+&8 !CNE# , !NHH#A =<9=7*; &5<(10= !NI"#> <*<(* 02 0*) H+(1(' C`*-.,'&1*7 @/(AC &5 !CNC#> *60(:+021 = TW29\(49=;T, ClB/'*3C PCb/*-GA.,CR9 `(/&G9 ![<!# ,F 56&9'( 2.20( 1(./(+&8 = -29&*<= !NHH#,IH#A <:(1(0:(K1&0(B C8/1(,.1- & G+*H&1C & Cg/F&-.'-2/(C, ./&+B *)/(9> *-*9> 69&+&0(1/(1 J32./* '*9&./& (+27*9&02 & .&;6*+&'=> .+*K21= &9*1&0=LA 2.20& 12.(<9K2 .&./2;(/&31= /2*9&0= (98&/2'/=92> 3(' &;( &5:2.1&8 '*1/9(<&'/*91*./&A 2.20& .2> 5(-9(:*>

6(:2 -*+2;&'*; * -9&9*<& 92(+1*./&, C8/1(,.1- & G+*H&1C J2.20L ,F -92<(:(10( *<9K(1( = Y23= !N!H#> -( -*1*:+021* !N!I# =Y23= & i*-218(721=A =.'*9* .= -92:2<21( 1( ]9(14=.'& & &5()+( !N!I# J& '(.1&02> !N"H#> =<9=7*; 69*0= TX^_.-9&/ b*=:2(=TLA 1( b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

&;( -9*+(51& & -*:9)1& '(9('/29L *91(;21/= = (98&/2'/=9&> '(* 1232; *< :2+&'2 /9(01*./&> (+& 7(12 *.-*9(:(> 1( -9#> = .'+*-= K21.'*7 J-*:25&:(* 02 29*/&5(; .( =+2-)(:(102;L 29*/&5;(

!IQ



"I# S<*+M X*.

'*1/&1=&/2/ '+(.&31*7 <2'*9(/&:1*7 .&./2;( 5( X*.( 02 :(K(1 -*'(5(/2+0 )&92> '=+/=912 /9(<&4&02>*< (1/&'2 -( <* u&1'2+(, Cg/F&-.'-2/(C , 2.20 .2 -9:& -=/ -*0(:&* !N!H# = Y29+&1=> '(.1&02 02 <*-=10(:(1 1( 12'&;

-92<(:(10&;( J'9*5 .:*0= '*142-4&0= ;*<291*7> *1 -9*:+(3& &./*9&0=LA X*. .2 6(:&<2M&1&.(102; & -9*6+2;&;( ;*<2912 (98&/2'/=92A -*<2+&* 02 42+*'=-1= -9*)+*./> 1( *1* -92

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

-9&6+&K(:(0= .2> -* X*.=> = .+=3(0= .-*;21&'( &+& 79*6(> '(<( 12;( -9('/&31*7 .(<9K(0(LA(98&/2'/=9( /926( <( '*;=1&4&9( .( *.2@(10&;( 3*:2'( :25(1&; 5( .:*0= 1(;21= J= .;&.+=+^(948&/24/=9( -(9+(1/2L> ( (98&/2'/( ;*9( 6&/& = ./(+1*; '*1/('/= .( .:2/.'&; <=8*; J(98&/2'/(;*9( <( 6=<2 .:2./(1 <*6(> ;2./(> -*/926( & '+&;2 & ;*9( -*)/*:(/& /9(<&4&0=L ;*9( 6&/& .&1.:*7( :92;21( JT(98&/2'/=9( -*6=P=02 *.2@(10( = 3*:2'=T> '(K2 X*.> 5(/* .*6( ;*9( 6&/&

=<*61(> .=<1&4( /926( <( *<9(K(:( ./9(8*-*)/*:(102> 6(1'( ;*9( 7*:*9&/& * 62562<1*./&1*:4( & .+#L

, .1-./&0./&4, -* -*:9(/'= &5 S;29&'2> -( .:2 <* !N!H#> X*. .2 =7+(:1*; 6(:&* (<(-/(4&0(;( 21/29&029(J9(<102> '(M2/29&02> ./(1*:&L> 1(0-*51(/&0&B !# m./1-1./ N(/i "# `/*A(71&K( G( '/*0(H'2e&/,2 C6*+A,(1 & W(+(HCA = 21/29&029&;( -9&:(/1&8 '=@( J:2)/ = '*9&)@210= .:2/+(B *<*57*>

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

9(5;&)+0(102 , CO(2,B+(1C , .+*K21& .&./2; =1=/9()1027 *6+&'*:(10( -9*./*9(, <=8*:&/ *<1*. -92;( 5('*1.'*0 927=+(/&:& , -9&;21( 4&+&1<9&31&8 .27;21(/( = 92)(:(10='9*:( J'2\( n-(01./ & '2\( M*/1./L, 32./( -9&;21( 9(:1*7 '9*:( J.;(/9(* 02 9(:(1 62/*1.'& '9*: 1(0:2@&; (98&/2'/*1.'&;*/'9&@2; *< -*./(1'( .:2/(L, -9(:&+12 ;(.2 '*;-*1*:(12 -* 5('*1&;( '+(.&312 (98&/2'/=92A *6&31* -9(:*=7(*1( ;(.(J'(* '=/&0(L> '*0( /2K& -9*-*94&0(;( '*4'2 J'2\( O2e./9 '2\( T*+./LA &5627(:( *)/92 =7+*:2>'(<( &8 =.+*:+0(:( +*'(4&0(> &51(< -9&52;+0( &8 -*<:*<& -*< -9(: =7(* J'2\( =>*G.e&1.?.01./RA =-*/926( .2'=1<(91&8 ;(.(> 32./* :2*;( &./('1=/&8 J1027*: T+(0/,;*/&:TL , /29(.2 &.+&31*A ./2-21(./* *6+&'*:(102 J/2)'&; .-*+0()10&; 5&<*:&;( *< *-2'2 &+& '(;21(.=-9*/./(:+0( +('2 =1=/9()102 -9279(<2 *< <9:2/( &+& 7&-.(> M+2'.&6&+1*L> :25( .( -9&9*<*;A

1(7+()(:(102 =+(5( &./('1=/&; <2+*:&;(> =:+(32102; J1027*:2 -9:2 '=@2 J7&+( m(/,( N+&G2q.1.7. & 7&+( n-(01./ 2 ?.H2R -9&;29& .= 9(4&*1(+&./&3'2 (98&/2'/=92L

!IE



"I# S<*+M X*.

, 625 *65&9( 1( ;(1&-=+&.(102 -9*./*9*; , '*;-('/1*./A 21/29&029 .2 12;*K2 .8:(/&/& 1(*.1*:= M(.(<2A -9*/&:+02102 ./('+21*0 (98&/2'/=9&A 79=6( *69(<( 5&<*:( J)/='*> 62+&> 625*91(;21(/(L , 2/&3'& &56*9 , M(.(<(B '+(.&31*./ J-92=52/( &5 b2;(3'2> u&1'2+*:.'2 /9(<&4&02LB *<1*. -=1* , -9(51*>8(9;*1&31( -9*-*94&0(> ('.&0(+1*./> .&;2/9&0( J'2\( b/&3-(1( c(/. , M(.(<( 5+(/1& -92.2'LA

.&;2/9&0= -*127<2 92;2/2 5(8/2:& =1=/9()10*./&A ;*<=+(4&0( M(.(<2A ':(<9(/1& & -9(:*=7(*1& -9*5*9& '*0& -*)/=0= ;*<=+(91& .&./2;A 12'(< & ./2-21&)/2 &79( :(K1= =+*7= = '*;-*5&4&0&M(.(<2, 1( 12'&; -9*02'/&;( , '+(.&31( <2'*9(4&0( J:214&> -9*M&+&.(1& M9&5*:&> -*9/&4& .( 12'&; *<./&+.'&8 92<*:(> '(9&0(/&<2> 9=./&31( *69(<( '(;21(> ### ,F 2+2;21/& '*0& 1&.= '*1./9='/&:1&> :[email protected] -*5&:(0= 1( (1/&3'= (98&/2'/=9=A &5=3(:(102; '+(.&31*7 *91(;21/(> *1 02 5(-*32* & '=9.49/(10( = .:*0*0 )'*+&L> &5:2<21* .(;* 1( '2\& O2e./, X*.*:2 '=@2 .= 1(&57+2< .-*+0( T625 '(9('/29(T> (+& *:& (1*1&;1& 2'./29&029& .= .'9&:(+&

69&K+0&:* -9*02'/(1/.'* =;2@2 ,F T'=@( ;*9( <( 6=<2 <&.'92/1( .-*+0(> .:* 1021* 6*7(/./:*/926( <( 02 .'9&:21* =1=/9(T , 7*:*9& X*., CO(2,B+(1C J-* X*.= -9*./*9 12 /926( -*.;(/9(/& '(* -*:9)&1=> :2@ '(* 5(-92;&1=L ,F

-+(1 :*+=;21( , *.1*: X*.*:*7 ;2/*<( -9*02'/*:(10(A =1=/9()10*./ '=@2 , .+(7(+&4(&.-92-+2/1(&8 ;(.( 1( :&)2 1&:*(> .( :&)2 ./2-21&)/( J-9*02'(/ 7&+. m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

-*9*<&31*7 K&:*/(> 7<2 .2 1(+(5& <=8 & 89(1& /2+*A = &<2(+1*; .+=3(0= *:(0 -9*./*9 6& .2 5(:9)&*/29(.*; '( 6()/&A 1( 1(0:&)2; 1&:*= *6&31* .= 1*@12 -9*./*9&02A -*<9=; & -*/'9*:1( 2/(K('*9&./2 .2 *6&31* 5( =.+=K=0=@2 -9*./*9&02 J-*.+=7(> -29&*1&4(> '=8&10(> *./(:(> :&1.'& -*<9=;>

-*<./(1&4(> 7(9(K(> .*6( <*;(9(> ### <('+2> =.+=K=0=@& -9*./*9 02 &51(< & &.-*< =.+=K21*7 -9*./*9(L

, 0(71. G@/(A.4!# f@/(A( C6*+A,(1 & W(+(HC9 ?.H PCE*3F(23C9 ![^[#L!!#R ,F '*+&'* .(:92;21( /*+&'*/9(<&4&*1(+1( .( *65&9*; 1( /* '*+&'* -(K102 02 -*.:2@21* M=1'4&*1(+1*./&A /2K&* 02 <( ./:*9&.'9*;1= & M=1'4&*1(+1= 79(P2:&1= J'(* .(:92;21= /97*:&1.'= 579(<= .( ./(1*:&;( = 7*910&;2/(K(;(A 6+&5&1( 4(9.'2 -(+(/2 & .92<102:2'*:12 49':2 1( /97= & 1(02+27(1/1&02 /97*:(3'2=+&42LA -*+*K(0 , 1( .=.92/= ./(9*7 02579( & 1*:*7 <2+( 79(<(A ='+(-(102 , +&1&02 :21(4( &5:*<& &5

*1&8 .( 49':2A -9*.:2/+0(:(102 92+(/&:1* :2+&'&; -9*5*9&;(A ;29;29 = 6(5&.=> )/='* 1(7*910&; .-9(/*:&;(> *<.=./:* <2'*9(4&02A 9(.'*)(1 21/29&029 9(<102 = -9&52;+0=A '*1./9='4&0(*< (9;&9(1*7,62/*1( 12 M&7=9&)2 1( M(.(<&> 1(-9*/&: , 1( -9#> /*.'(1.'& ./=6*:& .(;* .=.&;6*+&31&> 1&.= 1*.2@& &('* /('* <2+=0= J=+(5 *6+*K21 ;29;29*;> '*0& 02 &.'*9&)@21 & 5(*<:(0(102 /97*:(3'*7 *< ./(;621*7 <2+( 1( M(.(<&L"# c/'7( 37.-. 5+&G(N.-.9 '*1'2/31& /(A9 !:[:# ,F 2+&-/&31( *.1*:(> /*9(10 :&.*' GH ;J'*;6&1(4&0( ;(=5*+20( = [(+&'(91(.= & -9*M&+( S0M2+*:2 '=+2LA '+(.&31( '*;-*5&4&0( +&3& 1((;29&3'& 12*'+(.&4&5(; J/2K& <( ./:*9& 02<&1./:* &5 9(5+&3&/&8 &5:*9( , :&)2 02 -*51(:(* 9&;.'=1* 793'= (1/&'=L & 1( a(1/2*1 J= 21/29&029= &('* 02 '9=K1&> *:(0 '*;2;*9(/&:1& .-*;21&' 1&02

-92<:&<2* <( 6=<2 .(;*./(+1& 21/&/2/> :2@ <( 5(/:*9& 02<1= <9=7= :&5=9= , <( 5(:9)& <=7=(:21&0=L

<# T&1&3-(/3-7* /(-(9 '*1'2/31& /(A9 ![^X# ,F 2+&;&1&.(1 56*7 T12-*)/*:(10( -9*-*5&4&0(TAX*.*: *<1*. -92;( -9*6+2;= 579(<2 = =96(1*; /'&:= J*6+&' 579(<2 ;*9( 6&/& -*<92P21

!IC



"I# S<*+M X*.

*'*+&1&LA /26(+* 02 .(3=:(/& .(;* ./(/== '*10(1&'( &.-92< ./(92 579(<2 '*0*0 .2 X*. &1(32 <&:&*56*7 9(4&*1(+1*./& & *<1*.( -92;( '+(.&31*0 /9(<&4&0&A 12-9(:&+1*./& .-*+0()10&8 *6+&'((-.*96=02 =1=/9()10*./ 579(<2 J-*'=)(:(* 02 <( <*3(9( .&;2/9&0= JT029 *1( *<7*:(9(;*1=;21/(+1*0 (98&/2'/=9&TLA -*+&/&3'( ;*@ & 3:9./&1( *<9(K(:( .2 '9*5 -9(:&+1*./ <2+*:( &&56*9*; 6*02 ;(/29&0(+(B 5&<*:& *< '+2.(1*7 K=/*7 '(;21( & <:*./9='& ./=6*:& *< 491*7

-*+&9(1*7 79(1&/( 1( =:=321*; =+(5= , 6*02 S=./9*=7(9.'2 ;*1(98&02L]# 8N+('*A./ G( %&'(@* b/&N0219 '*1'2/31& /(A9 ![""# J1(0.(+:1&0& *< X*.*:&8;*1=;21/(+1&8 -9*02'(/(A '*1'=9. 5( T1(0+2-)= -*.+*:1= 579(<= 1( .:2/=TA X*. 02 8/2* <(*1( 6=<2 .&;6*+ %&'(7(L ,F 02<(1 *< "QH -9&.-2+&8 9(<*:(> & 02<(1 *< 32/9& 7<2 02 &.'*9&)@21(;2/(M*9( ./=6( J/9&0=;M(+1&8 9&;.'&8 ./=6*:( '*0& .&;6*+&)= 9(./ & ;*@ &;-29&02 , +&./ '(* ./=6<2;*'9(/.'*7 <9=)/:(LA X*.*: ./=6 02 <*9.'& *< =7+(3(1*7 491*7 79(1&/(> 1( *.1*:& *< *-2'2& /29('*/2 J!! .-9(/*:(LA 79(1&/ 02 -*1*:+021 1( ./=6*:&;( & :214= =+(51*7 -*9/&'( , 0(''*142-/> .&;6*+&31( :92<1*./> ;*1=;21/(+12 <&;215&02 , .=)/&1( X*.*:2 =96(12 (98&/2'/=92, -9*02'/*:(* 02 & 7&). F*-.+( J32./* 02 -=/*:(*> -( &; 02 -9&<(:(* 51(3(0L 7<2 .2 6(:&M=1'4&0*;> <9=)/:21&; & '=/=91&; '(9('/29*; JY23> a(9&5> b&4(L, 5(02<1&3'* 1( 8*/2+&;(B '*;-('/(1> ;(.&:(1 &57+2<> .&;2/9&0( = *.1*:& & M(.(<&> *79*;1&

7+(/'& 5&<*:& .( -9(:&+1&; 9(.-*92<*; -9*5*9(> 9(:(1 '9*:> *<.=./:* *91(;21/(

!IN



"D# Z29 <2=/.482 w29'6=1<> !CNC# , !N"E#

"]# =./ A.2-3KF. Y./'N21A9 !:[:# L !["X#

L =./ A.2-3KF. Y./'N21A ,F *.1*:(1 !NHE#A -*+&/&3(9& & &1<=./9&0(+4& -92=52+& .= &1&4&0(/&:=5( ./:(9(102 02579( '*02 6& -*+=K&+* '(* -*+(5&)/2 5( -92=92P2102 *<1*.( &5;2P= 5(1(/( &/97*:&12> ( '*02 @2 '(.1&02 <*6&/& 1(5&: Z29 <2=/.482 w29'6=1<, = :(K1*; /2*9&0.'*; <2+= CW-&+ 2 -.F1&H'&, & -.'-*13'&, 2,.-1*3-&,( &+& B/('-&H1(.3-.-&'(C9 !:S<#9 f.,B./ :2*;( 9(1* =*3(:( :(K(1 -9*6+2; &1<=./9&0.'2 4&:&+&5(4&02B12-*./*0(102 (<2':(/1*7 =;2/1&3'*7 *<7*:*9( 1( &1<=./9&0.'& 9(5:*0A =;2./*

-929(M(2+&./&3'*7 .1( * -*:9(/'= -92<&1<=./9&0.'*; <*6=> *1 .2 5(+(K2 5( &51(+(K2102=;2/1&3'*7 1(3&1( 5( *:+(<(:(102 1*:&; .92<./:&;(, &5+*K6( = ]&+(<2+M&0&> !CEQ# ,F 12;(3'& -9*&5:*<& .2> = *<1*.= 1( (;29&3'2 & 217+2.'2>&5<:(0(0= '(* T02M/&1& & 9=K1&TA 9(./2 .:2./ * -*/96& =.(:9)(:(10( -9*&5:*<( = 2./2/.'*; .;&.+=, !CEH# , !CNH# ,F &1<=./9&0.'( 2'.-+*5&0( = b2;(3'*0A 1(9*3&/* :(K1* , B/.A2G.\. g56J7+(:12 2+2'/9*1.'( '*;-(1&0(L> *.1*:(1( !CCI# 1( &1&4&0(/&:= 5,&+( O(-.1(2(A *.:(0()&9*'= *6+(./ -9*&5:*<102 & 9(5:&0( :252 )&9*; .:2/(

, -*.+2 !CNH# J-*.+2 .;9/& Y&5;(9'(L -*./(02 0(.1* <( 12;(3'( &1<=./9&0( J'*0( 12 9(.-*+(K2 02M/&1&; .&9*:&1(;( , /('* 1& 02M/&1&; -9*&5:*<&;(L ;*K2 '*1'=9&.(/& 1( .:2/.'*; /9K&)/=.(;* :&.*'&; ':(+&/2/*;A /25= * .-925& &1<=./9&02 & =;2/1*./& 9(5:&0( U/&A/&F j*0,(1 J6(:&.2 2'*1*;.'*; -*+&/&'*;L> = 2.20= Cl,.-1*3- 2 &1A23-/&03'*, A*N2C9 ![^]#, (98&/2'/( M./,(1 T2-.G&023 ,F = .:*0&; -9*02'/&;(B !# m2\( G( ,&1&3-/( e*1 f.e.+A( 2c.+.1A*/e2i "# m2\( G( B*/*A&K2 U/*0A.1N./@A -*'(5=02 02<1*./(:1*./> -9('/&31*./ &*<(1*./ -*9*<&31*; K&:*/= J'*0= .= -*.2<*:(+2 '=@2 = _17+2.'*0 & '*0= @2 9(5:&/& =

b2;(3'*0 J-9*/&: +(K12 6=9*K*(5&02> 1*:&8 6*7(/()(L> ( 5( &./&1.'2 79(P(1.'2 :92<1*./&L, -9*:*<& &5:2.1* :92;2 = X*1<*1= J1(0-92 02 9(<&* = c(-(1=> -( *1<( = X*1<*1=L =

b2;(3'*0 (;6(.(<&> 7<2 .2 6(:& &5=3(:(102; 217+2.'2 (98&/2'/=92 & <&5(01(A !NHD# .2 :9(@( & -*./(02 .(:2/1&' = a9=.'*; ?&1&./(9./:= *69(5*:(10(> .( 5(<(/'*; 92M*9;&.(10( -9*79(;(

*69(5*:(10( = *6+(./& 5(1(/( & -9&;21021&8 =;2/1*./&A *60(:+0=02 & '10&@2 C51@+.3'( '2\(C>7<2 &51*.& &.'=./:( -*'92/( TS9/. (1< f9(M/T, .+&312 &<202 )&92 & m(/+ n,&- J02<(1 *< 1(0;*@1&0&8 12;(3'&8 &1<=./9&0(+(4( &5 *6+(./& <9:12&1<=./9&02 , *.1*:(* TZ925<21.'= 9(<&*1&4= 5( =;2/1&3'= -9*&5:*<10=T> !CNC#L & `.-./?./.13 J'*0& 02 !NHI# -*./(* <&92'/*9 )'*+2 -9&;21021&8 =;2/1*./& = Z&52+<*9M=L, T2-.G&0239 j*0,(1 & n,&- J='(5=0= 1( 1=K1*./ *97(1&5*:(10( 5(1(/+&0( & &1<=./9&0(+(4(L.=-9*/./(:+0(0= .2 '*1529:(/&:1*; T\(:25= 5( 12;(3'= -9&;21021= =;2/1*./T>

-9*/2'4&*1&./&3'*; <9=)/:= &1<=./9&0(+(4( & <&5(0129(> & 5( .:*02 &<202 1(+(52 )&9*'= -*<9)'= =&1/2+2'/=(+1&; & 1(-92<1&; '9=7*:&;(, ![^X# T2-.G&0239 j*0,(1 & n,&- *.1&:(0= w29'6=1< J.+&312 &<202 &;( & ]9&4 u=;(829 ,1(9*< /926( <( .2 :2K2 5( -*.(*A ':(+&/2/ ,F .-*0 9(<( & =K&:(10(LA x29' , 9(<> -9*&5:*<10(>

<2+*> M(69&'(> *./:(9&/&> -*'921=/&A 6=1< , .(:25> 5(02<1&4(> +&7(> .:2K(10> .1*-> .'+*-, w29'6=1< 02 *.1*:(1 '(* =<9=K2102 &1<=./9&0(+(4(> 5(1(/&+&0(> (98&/2'(/(> <&5(0129(>&5<(:(3(> -9*.:2/(9(A = .(./(:= w29'6=1<( = -*32/'= 02 6&+* !" M&9;& & !" =;2/1&'( J;2P=10&;( ?./.139 M*e,(19 8+N/&F9 `*+Ln2+K. j(2,N2/@9 U/&K n2,(F./L> ( =695* ;1*7* :&)2J-*.+2 I 7*<&12 , EI! -(K+0&:* *<(69(1 3+(1L, 4&+0B *-+2;210&:(102 12;(3'2 -9*&5:*<12 <2+(/1*./&, ./9(/27&0(B =.(:9)(:(102 *69(5*:(10( 1( -*<9=30= &1<=./9&0.'*7 <&5(01(, w29'6=1< .2 1&02 5(+(7(* 5( 02<(1 *<92P21& =;2/1&3'& 025&'> :2@ 5( 92M*9;= *<1*.(=;2/1&'( & &1<=./9&02 J1( *.1*:= '*7( @2 .2 ':(+&/2/ & ':(1/&/2/ <*-=10(:(/&LA 5(02<1&3'( 1&/ .2&-(' *7+2<(+( = &5:2.1*0 -=9&./&3'*0 /21<214&0& *-92<2+0210= 5( 2+2;21/(912 M*9;2 & -9&14&-2Jw29'6=1< , '(* 421/(9 5( '**9<&1(4&0= & 9(59(<= 2'.-29&;21(/( &1<=./9&0(+(4( & &1/2+2'/=(+(4(

9(<& ./:(9(10( =02<&10212 1(4&*1(+12 *97(1&5(4&02 5( -9*&5:*<10=L

!DH



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;# `*G*/&)-. T('3( E&-,(1(9 T&1F.19 ![^:# g 7*<&12, .='*6& = *':&9= w29'6=1<,(B, -*./*0(* 02 +(/21/1& .='*6 T-=9&./&3'2T & T2'.-92.&*1&./&3'2T ./9=02A .='*6& :98=1(4 <*./&K=!N!D# '(<( T2-.G&023 -92<+(K2 <( .2 -*;*@= w29'6=1<,( &5:9)& <2M&1.1.&9(102 /&-*:( &./(1<(9<&5(4&0( J= (98&/2'/=9& & <&5(01=L> )/* :(1 <2 W2+<2 & <9=7& (98&/2'/& Jr9*-&0=.L *<+=31**<6&0(0= = .:*0*0 T/2K10& 5( *6+&'*;T J&1<&:&<=(+1*./ *6+&'(> '92(/&:1*./LA *:& .='*6& .= 6&+& =.=-9*/1*./& 5(8/2:&;( &1<=./9&0(+(4( & -*+&/&3(9( = w29'6=1<,=> '*0& .= /9(K&+& 02<&1./:21<&.4&-+&1*:(1 & (M&9;(/&:(1 1(./=- 1( &1*./9(1*; /9K&)/=A = *:(':*0 *.4&+=0=@*0 (/;*.M29& &-('

02 -*'921=/ 3(.*-&. C6*A&)10('C> & *.1*:(12 .= w29'6=1< *97(1&5(4&02 = S=./9&0& &u:(04(9.'*0> ( & 1(./=- 1( &1*./9(1*; /9K&)/= 02 =.-2* = &5:2.1*0 ;29& J&5+*K6( !NHC# =?&1821=A &5+*K6( !N!"# = Y23=L

!# JG+*>N( Y./'N21AL( 2 m.+129 ![!]# ,F -(:&+0*1 W(+/29( r9*-&0=.( & S<*+M( ?(029(, .&1/('.( 92&1/29-92/&9(1*7 12*'+(.&4&5;(B T2-.G&0239 ?./.139 M*e,(1, .&1/('.( 2'.-92.&:1*./& k ;&./&4&5;(B 7(1 A. D.+A. & ?/21* b(2-, &5+*K6( <2M&1&/&:1* .'92@2 -(K10= 1( 1*:= 72129(4&0=> -*.261* 1( 6/*B&023( & T(0./(J-9&.=/1&8 .( ;*<2+*; M(69&'2 4&-2+( ](7=.L, r*<&)10(' w29'6=1<,(B, !N!I# ,F Cl,.-1*3- 2 &1A23-/&0& & -/@*7&1&C, !N!D# ,F Cb/(13B*/-C, 6(:2 .2 *6+&'*:(102; & *97(1&5*:(102; -9*./*9( &1<=./9&0.'&8 *602'(/(> <&5(01*;K2+251&3'*7 :*51*7 -(9'(> 69*<*:(> (:&*1(> ###, !N!G# ,F Cj.,(H'* *N+&'*7(10. 2 /(-1*0 @*A&1&C, * &5+*K6& &5 !N!D#, !N!Q#k!E# ,F 9(/1& 79*6*:& '*02 .= 3+(1*:& w29'6=1<,( 9(<&+& -* 1(9=<K6&, w29'6=1< -*.+2 9(/(B, !N!N# `.+K&@ 02 *<9K(* -92<(:(102 = u/=<7(9/= = '*; 02 *.=<&* *9021/(4&0= '( 6&51&.= '*0= .=5(./=-(+& j*0,(1 & T2-.G&023> & '(* 4&+0 w29'6=1<,( -9*'+(;=02 *'92/(102 5(1(/./:= J+&.'*&<2*+*7&0& W&+&02;( ?*9&.(LA 5(/* .2 <2* 1('+*1021 &1<=./9&0.'*0 -9*&5:*<10& -*./2-21**'=-+0( *'* Y(=8(=.( '*7 &./2 7*<&12 = W(0;(9= *.1&:( 6/*B&023, W-(,N.1( 1(3.+0( Y./'N21AL( Pn-2A@(/-9 !["X#i ?/.3+(29 !["[#i ?.H9 ![<"#RiY.&3.1F*e W&.A+21@ 2 n-2A@(/-2 , -*< .=-29:&5&0*; T&3(> -9*02'/2 .= 9(<&+& 1(0:(K1&0&2:9*-.'& (98&/2'/& 2-*82

, &5+*K6( w29'6=1<,( !NIH# = a(9&5= , *97(1&5*:(* 02 6/*B&023> 6&+( 02 :&)2 &5+*K6( Y(=8(=.,( 127* w29'6=1<,( J6/*B&0239 ?/*0./9 T*F*+0&Lj(pL, !NID# ,F VVV R(08 , -92'&< ('/&:1*./&, !NDE# ,F *61(:+0(102, 6=<=@1*./ w29'6=1<,( .2 -92/*-&+( = j*72 *N0.'-&71*3-, j.,(H'( r g23-/&0(, UWVVV :# ,F W&1'2+;(1 g, UVU :# ,F s2;-29> u/&7+&4 g D, UVU :# , UU :# ,F .242.&0( Jp/* W(7129L g, 623'& R&17 g 5, w2'6=1< J!N!D# &5+*K6(L g, 2'.-92.&*1&5(; g f

, Y(=8(=. , r9*-&0=. g, b*:( *602'/&:1*./ g 5, ?&. g

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L `.-./ ?./.13 P`.-./ ?.F/.13R9 !:S:# L ![]^# ,F 1(0M(.4&1(1/1&0( +&31*./ '*0( 02 ./(.(+(=1=/(9 w29'6=1< -*'92/(, 9*P21 02 !CQC# = [(;6=97=> *< 9*<&/2+0( (=./9&0.'*7 -*92'+(, = -29&*<= !CCQ#,N!# =3& .+&'(9./:* & 6(:& .2 -9&;21021*; =;2/1*)@= Ji(9+.9=2> Z&52+<*9M>?&1821L ,F '(9&029= 02 -*32* '(* .+&'(9 2'.-92.&*1&./( = *':&9= ?&1821.'*7 .242.&*1&./&3'*7

-*'92/(A -92'* -9&;21021&8 =;2/1*./& ,F (98&/2'/=9(, !CN"# -*./(02 02<(1 *< *.1&:(3( ;&1821.'*7 c=721<./&+,(> 9(<& -*< =/&4(02; 7(1 A. D.+A.(, !CNQ# ,F -=/ = V/(+&0=, -* -*:9(/'= &5 V/(+&02> .:2 .2 :&)2 6(:& &1<=./9&0.'&; <&5(01*;A /('*> '(.1&02> -*/-=1*1(-=)/( .+&'(9./:* & -92*9021/&)2 .2 1( (98&/2'/=9= J1( '*0*0 1&02 :&<(1 =/&4(0 .+&'(9./:(LA 1&02 .2

-*:&1*:(* -9(:4&;( &+& 79=-(;(> :2@ 02 9(5:&* (98&/2'/=9= .( +&31&; -23(/*;> *62+2K21= &+*7&'*;> *602'/&:1*)@=> 9(4&*1(+1*)@= J'9*5 Y2921.*: 6&9* -9*)+& .=B T&39 E. m*/N&G0.96/*B&023L

, =(/,)-(-4 ,F !CNN# , !NHI# , 3+(1 & -9*M2.*9 =;2/1&3'2 '*+*1&02 = Z(9;)/(/=A !NHI#,HE# ,)'*+( 5( -9&;210212 =;2/1*./& = Z&52+<*9M=

, 1( -*5&: [2.21.'*7 1(<:*0:*<2 5/13-( E2A7&@(> Y2921. !CNN# *<+(5& = Z(9;)/(/ 7<2 .2 -9&'+0=3=02 C6/2B& XC, .(9(<10( .( -*5*9&)1&; 92M*9;(/*9*; 6.*/@*, U2'3*, = :25& ;&./&31*7 4292;*1&0(+(Cf1('C J'*0*; 02 *.1*:(1( =;2/1&3'( '*+*1&0( = Z(9;)/(/=L> '*0&; 02 */:*921( &5+*K6([(6&/(/(B *N+&'*7(10. Cf1('(C9 '/&3-(+( J2;-(/&3'&> s(9(/9=./9( ./&+L '*0& 02 6&* .&;6*+

b*:*7 <=8( '*0& .2 9(P( = *:*; <9=)/:= *<(69(12> =9(<&* 02 Y2921. J4292;*1&0(+ J'(* 9&/=(+L,F '9&./(+ '(* .:2/+*./ 1*:*7 <=8( 9(P( .2 &5 =/9*62 52;+02 ,F -9&5&:(102 1*:2 =;2/1&3'2 .&+2'*0( *602<&10=02 +2-*/= & <=K1*./ , -*'=)(0 <( .2 -92<./(:& j&H.*7( :*+0( M*9;2L!# D+(3-&-( 7&+( 2 =(/,)-(-29 ![^!# ,F -9:& (98&/2'/*1.'& -9*02'(/ Y2921.(> :2@ .2 :&<& /2K10(5( +&31&; ./&+*;A = ;=5&3'*0 .*6& -*1*:* .2 -*0(:+0=02 Ts1('T J(;6+2;L"# JG+*>N( 2 b*/&129 ![^"#9 j.,(H'& B(7&+0*1 PD*/F(++.R ,F ./:*9&* 02 02<1= 1(<92(+&./&3'=

-2@&1= ,F .( -9*5*9( &51(< 8*+( 6*7(/* ='9()21*7 -9*M&+(4&0*; = ./&+= p+69&8(> .2/+*./ 6& -92-+(:&+( 21/29&029 = '*;2 02 6&+( &5+*K21( &1<=./9&0.'( ;*@ VV R(08( J4&/(/ Ts(9(/9=./9(T .2'92@2 '( .:2/+*./&LA *-2/ &59(5 b&32*:.'2 T/2K102 5( *6+&'*:(102;T , 2'.-92.&:1& *6+&4&> 2M2'/&.:2/+(A -*&./*:2@&:(102 1*:2 .-&9&/=(+1*./& & 12;(3'*7 &1<=./9&0.'*7 '(-&/(+( J:&<&;* *-2/.&;6*+&'= '9&./(+(> '(* 72*;2/9&5*:(1*7 *97(1&5*:(1*7 =1&:295=;(> .&;6*+( 9(5=;( ,F1(./*0(102 <( .2 <( <=8*:1& &59(5 &1<=./9&0.'*0 ;*@&

, A.+(-1*3-9 ![^<#L^X#4, = -29&*<=> !NHI,HE#> <&92'/*9 02 )'*+2 -9&;21021&8 =;2/1*./& = Z&52+<*9M=, !NHI# .=.92@2 .2 .( 8*+(1<.'&; (98&/2'/*; E(27./1'3*, J'*0& .2 -9&<9=K&* Y2921.= =

Z&52+<*9M= !NHI#> '(<( 02 *1 -*./(* <&92'/*9 /(;*)102 )'*+2L '*0& 02 6&* -92<./(:1&'CN.2/*13'. )'*+.C J=/&4(0 1( Y29+(72(L 72*;2/9&0.'&8 -9*-*94&0(A *:(0 .=.92/ 6&* 02 *<.=)/&1.'*7 51(3(0( , Y2921. = 72*;2/9&0& */'9&:( .&./2; 51('*:( -*7*<(1 <( <( &59(5&1<=./9&0.'*0 =;2/1*./&<# JG+*>N.1& B(7&+0*19 8+A.1N2/@9 ![^;#]# m/.,(-*/&02,9 M(@.19 ![^S#, *:&; -9*02'/&;( Y2921. 1(-=)/( :25= .( c=721<./&+,*; & 2'.-92.&*1&5;*;> '*;6&1(4&0(

62=9*1.'2 72*;2/9&02 & /*.'(1.'2 9*;(1&'2A 9(59(<( .&;6*+&'2 Ts1('(T = 5(7=)+0&:*;=-9*)@21*; -+(./&4&5;=A -9&.=/1( 02 (/2'/*1&31*./ +&12(912 )(92 '*0( 9&/;&5&9( -*:9)&12

, 7&+.9 ![^;#L!"#4

;# m2\( m21*9 M(@.19 ![!^#S# m2\( n/.A./9 M(@.19 ![^[#

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, & 1&5 <9=7&8 :&+( 5( -9&-(<1&'2 :&)2 .92<102 '+(.2A <*./(> /:9< 12*'+(.&31& '*142-/> .'9*;1(<2'*9(4&0(> ;(.&:1*./

, &1A23-/&03'. & A/2@. G@/(A.9 ![^X#L!]#4 J!NHE# , *.1&:(102 w29'6=1<,(LX# g56 L B(7&+0*1 G( &G+*>N2 N/*A*@/(A10. 2 ?./+&129 ![^:#

, Y2921.( -*5&:( '*;-(1&0( S_r J5( 10&8*:2 -*/9262 9(<&* 02 92'+(;12 -+('(/2> &1<=./9&0.'2 -92<;2/2 & -9*-(7(1<1& ;(/29&0(+L '*0( <9K& ;*1*-*+ = *6+(./& 2+2'/9&312 21297&02 5( 42+= b2;(3'=> <( *.;&.+& '*;-+2/(1 :&5=2+1& &<21/&/2/ M&9;2 , <&5(01 2+2'/9&31&8 =92P(0(> 92'+(;1&;(/29&0(+ & = *6+(./& (98&/2'/=92A Y2921. & <&92'/*9 M&9;2 D(+-./ O(-.1(2 1()+& .= .2 -* -&/(10=:292 = ;&./&31= .1(7= .(:92;212 /281*+*7&02 '*0( ;*K2 <*-9&12/& <9=)/:21*; *.+*6(P(10=>(+& & -* -&/(10= ./9(8( *< */=P210( '*02 ;*7= &5(5:(/& &./2 /2 .&+2A Y2921. .:*0 9(< <*K&:+0(:('(* ;*7=@& .-*0 A2F( 7/.,.1( Js2&/ r2&./L & A2F( 1(K&0. JW*+'. r2&./LA Y2921. 02 M*9;&9(*(/2+02 '9*5 '*0&> .= -9*)+& & ?&.> r9*-&0=. & X2 i*96&502 ,F :2*;( :(K1*X# U(N/&'( -2/N&1( g569 M2-.1)-/(3.9 ?./+&19 ![^[# ,F .&1/25( 793'*7 89(;( & .(:92;212M(69&'2A =;2/1*./& & 9(<(, -92;( =+&4& , &./('1=/& 1*.2@& -&+(./9&> :2+&'2 ./('+212 -*:9)&12 &5;2P=A -92;( <:*9&)/= ,

-9&<*<(/* <:*.-9(/1* '9&+*A -9*32+02 , :2+&'( 5(./('+021( -*:9)&1(> =:=321& =7+*:&> -*+&7*1(+1&5(6(/A 1& = '*; .+=3(0= -9*./( '*1./9='4&0(> 2:2@ (98&/2'/*1.'& -9*;&)+021( ;(/29&0(+&5(4&0(J'(* &59(5 ;*<291*7 K&:*/(L &1<=./9&02A .&;6*+&'( 89(;(> /2K10( 5( ./:(9(102; T/&-.'*7T&57+2<(> 5( =.-*./(:+0(102; 1*:*7 -*92/'( = =96(1*0 ./9='/=9& J3&/(:( =96(1( ./9='/=9( 6&/926(+* <( .2 *6+&'=02 -92;( *:*; *602'/= , &<2(+1* 7+2<(1*L:# U(N/&H'& '*,B+.'39 g569 ?./+&19 ![^[#L!<#, s&/2*:.'( *.1*:( 1(+&' .2*.'*; <:*9&)/=A = '*;-+2'. =+(5& :&)2 579(<(, U(N/&'( 7&3*'*@ 1(B*1( , <:*69*<1( 8(+( 5( ;*/(K= /9*./9(1* =*':&921( )2./*.-9(/1&;'9&+&;( J+&3& 1( X2<=( &+& a&9(125&0( , -* ;(+* 8/*1.'( /2'/*1&31*./L, U(N/&'( 7.+&'&F ,()&1( , .+&31( '(* M(69&'( /=96&1([# JG+*>N.1& B(7&+0*1 1( W7.-3'*0 &G+*>N& 2 ?/&3.+2 ![!^#!^# `+&1(/( 2 U/(1'e2/-29 ![!"# , '*;-+2'. = '*; .= 1(051(3(01&0& :*<*:*<1( '=+( &92529:*(9& <29&:(/(> 7<2 Y2921. 2='+&<*:.'& '*9&./& 72*;2/9&0= *6+&42 J:*<*/*9(10A ./(1*:& 5(5(-*.+212A 579(<2 5( ;()&1.'& (-(9(/L!!# W-(,N.1( 1(3.+0( *'* ?./+&1( G( g569 ![!;# , ./9*7 &57+2<> 79(<10( = 1&5=A 1*9;&9(12 &/&-&5&9(12 *.1*:2 , =/&4(0 ?=/25&0=.(, j(K&*1(+1( @(+./&0( (2-*,*N&+(9 =&G.+A*/e9 ![!;i `/*A(71&K( & 7.3+(H'& '+2N!"# lB/(71( G@/(A( H.+&H(1. T(1.3,(19 =&G.+A*/e9 ![!<# , Y2921. 9(5:&0( /&- =-9(:12579(<2 , /2(/9(+1( ;*1=;21/(+1*./A .:2<21( ./9*7( M*9;(A = .(9(<10& .( <&92'/*9*; 1*9;&9(12'(142+(9&02 '**9<&1&9(12 .( '*1./9='/&:1&; 2+2;21/&;(A -*<2+( -9*./*9( ;*1/(K1&; 5&<*:&;(, m*,B(1&0( G( B/./(A2 (/,(-2/. m*1-&1.1-(+9 M(1*7./9 ![!"# i `+&1(/( 2 U/(1'e2/-29

![!"#!<# j.,(H'( (,N(3(A( 2 `.-/*@/(A29 ![!"# , &1/29-92/(4&0( u&1'2+(A )2M 79(<&+&)/( ?&.J12*'+(.&4&./&3'( 79(P2:&1(L, m/.,(-*/&02, ,F 8+(<(1> -9*9(3=1(/ -9&./=-A M(1@(/& (7&*1( & U(N/&'. +*'*,*-&7(!]# J1A23-/&03'& B*@*1& B/.A2G.\( G( B/*&G7*A102 N*0( 2 M*.F-29 !["^#L";#, -*'=)(0 92&1/29-92/(4&02 &57=6+0212 .&1/('.2 .92<102:2'*:12 79(<.'2 (98&/2'/=92A <2+* 02

6+&.'* 2'.-92.&*1&5;=A 7+(:1& ;*/&: = =1=/9()10*./& 02 :2+&'& 8*+ J02579* 579(<2L , *9'2./9&9(12 -*:9)&12 :&)26*012 *-2'2> ;+231* , ./('+21& '9*:> :&.&1( '9*5 G .-9(/*:( , (+=5&:(1> /2(/9(+1& -9*./*9> ;&./&'(!;# O2A(/3'& &1A23-/&03'& '*,B+.'3 2 8N./F(2G.129 ![";#, ;*@1( '*;-*5&4&*1( 42+&1( 9(5:&021( -* 8*9&5*1/(+&> -9*./*91*./ 3&0( .1(7( 1(<&92 &51=/9(A

1(-92<1( '*1./9='4&0( J:2+&'( 1*.&:*./L, !N""# <&92'/*9 (98&/2'/*1.'*7 *<.2'( 1( Y23'*0 =;2/1&3'*0 S'(<2;&0&

!DI



"D# Z29 <2=/.482 w29'6=1<> !CNC# , !N"E#

!S# 8B)-&13'& 3-(1*7& 2 ?.H29 !["]#L";#A 6+*'> &56271=/& .:2/+(91&4& & ./(1*:& = .=/2921=>1*9;&9(1( 79(<10(!X# b./(3(3-* 3-(1*7(10. G( ?.H> 12&5:2<21& -9*02'(/ , -*'921=/*./ ;(.( = .:&; -9(:4&;(A8&7&021( & ;*1=;21/(+1*./!:# U(N/&'( A27(1( 2 E&1K29 ![<^#L<;# ,F 1(-92<1( '*142-4&0(> TV1/291(4&*1(+1& ./&+T

, !NIQ# ,F )2M '(/2<92 5( (98&/2'/=9= a9=.'2 S'(<2;&02 =;2/1*./& = Y29+&1=, =;&92 !NDH# = Y29+&1= JQD 7*<&12L

, -.*/&0(4, -92<(:(10(B, Cn-( 0. ,*12,.1-(+1( 2,.-1*3-C9 ![^:#, Cl,.-1*3- & -.F1&'(C9 ![!!#, CJ1A23-&0( '(* *A/(G '2+-2/.C9 ![!<#, *<+&'2 Y2921.*:*7 9(<(B ,F 1*./(+7&0( -*+0*-9&:92<1&8 '*;-+2'.(A M(.2/&9(1 '9*: .( 5(6(/*;A+(7(1( 32+&31( '*1./9='4&0( -9*32+0( .( 3:9./* &.-=1021&; =7(*1&; 2+2;(1/&;( '*0& <(0==/&.(' ;(.&:1*./&A (98&/2'/*1.'( M*9;=+( 6*31*7 =3:9)@&:(10( +('&8 792<1&8 '*1./9='4&0( .(

;(.&:1&; =7+*:&;( ,F *.1*:1( '(9('/29&./&'( 02 .:&8 &1<=./9&0.'&8 *602'(/(

, <9=7( :2+&'( +&31*./ w29'6=1<,( 02 (98&/2'/( M(13 `.+K&@ ,F 1027*:2 579(<2 .= -9&;29(=/21/&31*7 2'.-92.&*1&5;( ,F /* .= ;(.2 -9*02'/*:(12 9(<& -*<9(K(:(10( T127(/&:1&8 3(9&T:2+&'*7 79(<( J'*1'2/31& /(A Cm2\( B/&0(-.+03-7(C9 J3-(1N2+i D*A*-*/(109 M(,N2/@iM.,&03'( e(N/&'(9 E2N(1 L `*+03'(i 3'2B&1( '2\( & /(A10& 2 ?/.3+(2

, B*3+./(-1( ('-&71*3-4 ,F 1(-=./&* '+(.&4&5(; & .&;6*+&5(; (=/*9&/2/2 &1<=./9&0.'2 ;*@&A/9(7( 5( =;2/1*)@= 79(<&/2+0./:( '*0( 6& &59(K(:(+( <=8 1027*:*7 1(9*<(A :29( =Ti=1./x*++21T

!DD



"G# ]9(1' X*0< R(0/

";# U/(1' E*0A O(0-

L U/(1' E*0A O(0- PU/(1' E+*QA Y/&@F-R !:SX# L ![;[# ,F !DHH -9*02'(/(> -9&6+&K1* EHH&5:2<21&8A :*+2* 2;*/&:1* 12./(6&+12 K212 ,F -*3&102 T]92;-/*1T

, *N/(G*7(10.4, 9*P21 !CQE# = R&3+21<= JW&.'*1.&1LA )'*+= -*8(P( = W20;=/=> 32./* 6*9(:& 1( &;(10= .:*7<2<2 '*< \-9&17 r9&;(> 7<2 02 5(:*+2* -9&9*<= J1&02 :*+2* 79(<A T79(< 02 5+* '*02 ./(+1*1(9(./(TA 1(0./(9&02 02 <2/2> */(4 2'.21/9&'> */&)(* *< '=@2> ;(0'( 7( =.;29(:(+( '( (98&/2'/=9&J6&+( 02 =62P21( <( @2 -*./(/& :2+&'& (98&/2'/(LL, ./=<&9(* &1K21029./:* !CCG#,CE# 1( W&.'*1.'&1.'*; O1&:295&/2/= = ?2<&.*1=A 5( :92;2./=<&0(> 9(<&* 02 = /9& 6&9*(> ( = 02<1*; *< 10&8 =-*51(* .2 .( T)&1<9(,./&+*;T J-9:& -*.(* '*<+*'(+1*7 -92<=5&;(3(> ( -(9(+2+1* 5(:9)(:( <:2 7*<&12 79(P2:&12 , 02<&1* *69(5*:(102L, !CCC# ./=-( = 6&9* S<+29( & \(+&:21( J= /* :92;2 79(<2 :2+&'= p-29=A /= 6*9(:& -2/ 7*<&1(LA/= 02 *<&79(* :(K1= =+*7= = -9*02'/*:(10= -9&:(/1&8 '=@(A =32@& '*< \(+&:21( JT+&2629

;2&./29T,(L =.:*0&* 02 7+(:1&1= *1&8 -9&14&-( '*0&;( @2 .2 9='*:*<&/& = .:*; ./:(9(+()/:=J'*< S<+29( & \(+&:21( ,F 1*:( <2;*'9(/.'( (98&/2'/=9(A *97(1.'& '*142-/A S9/ b*=:2(=9231&' \(+&:21(A R(0/ &; 02 6&* -9:& .(9(<1&'> <*' .= *1& 9(<&+& :2+&'2> *1 02 9(<&* ;(+2

-9*02'/2A <:2 /(3'2 -*.;(/9(10( *602'/(B !# &5 <(+0&12 J.&+=2/(LA "# &5 6+&5&12 J6&/1& <2/(+0&L

, 2-&K(0&4!# 1(&:1( M&+*5*M&0( T(;29&3'&8 -92<('(T"# =+/9(&1<&:&<=(+&5(; JB&3(K b*/*RI# 1(/=9(+&5(; Jb*,(3 =>.e./3*1LD# O(3'&1> S9/. (1< f9(M/ ;*:2;21/G# D&*+.L+.L=&' > 7*/&'(

Q# M# M# O&H(/A3*1 ,F <:*./9='& -9&14&- , (.&;2/9&31& ./&+ -*9*<&31&8 '=@( & 12*9*;(1/&3'&;*1=;21/(+&5(; 0(:1&8 79(P2:&1(E# (98&/2'/& .( V./*312 p6(+2 , (=/*9&/2/ '+(.&4&5;(C# 0(-(1.'( (98&/2'/=9(A \:2/.'( i*+=;6&0.'( &5+*K6( = %&'(7= !CNI# = *':&9= Z(B(13'*@B(7&+0*1( J/(;1& 49:21& ./=6*:& & 792<2> -92-=)/212 ./9282> -*:25&:(102 '=@2 & -9&9*<2>8*9&5*1/(+1*./> 62+( M(.(<(> :2@2 & ;(102 -9*./*9&02 , '=@( W&1.+*=L L /.'*13-/2&3(1 M*L*LA.1 F/(, J579(<( g/-3 (1A c/(e- ,F 1( %&'()'*0 &G+*>N& Pb/(13B*/-.0)1 N&+A&1@R *:*;579(<*; & &5+*K6*; <*+(5& <* -(<( %&'()'2 )'*+2> /('* & S9/. (1< f9(M/ ;*:2;21/> \(+&:21

-(<( = -9*.231*./LA M+2'.&6&+1*./ -9*./*9(A (1&;&./&3'( .:*0./:( (98&/2'/*1.'&8 2+2;21(/(N# )&1<9(,./&+ J*/:*921 -+(1> 5(1(/./:*L, -*.261* :(K1*B &A.(+ C*/@(13'*@C

, (1(+*@&0( B/&/*A. & (/F&-.'-2/. -9*:+(3& .2 '9*5 42+= /9(<&4&0= *1-*+*)'*@ e21'K&*1(+&G,(J1( -9# M9(14=.'& /2*92/&3(9& UWVVV :#LA W(+&7.1 9(5:&0( -9&14&- 02<&1./:( M*9;2 & M=1'4&02A -*+(52@& *< /*7(> O(0- 9(5:&0( &<20= T*97(1.'2 (98&/2'/=92T '*0( -*<9(5=;2:( 8(9;*1&3(1*<1*. & 12*<:*0&:*./ 42+&12 & <2+*:( & *-*1()(102 -9&9*<1&8 -9*42.( = (98&/2'/=9&A 1(32+=T*97(1.'*7T R(0/ -9&<*<(02 .&;6*+&'= (;29&3'2 '=+/=92 125(:&.1*./&> *1* 02 &59(5 (1/&,'+(.&4&5;( & (1/&,2:9*-*421/9&5;(A :25(1*./ 5( /*-*79(M&0= & :272/(4&0=

, CB/./&03'& 3-&+C9 !::[# L ![!]#4 ,F '+&021/2+(B 6(1'(9&> -*.+*:1& +0=<& , .92<10( & :&)( '+(.(>+0=<& .-92;1& 1( 9&5&'A R(0/ 02 &;(* ./(1<(9<1= 2'&-= ;(0./*9( J'(* & a+231&'L & +&31*1(<7+2<(*, !CCN# :+(./&/( '=@( = p(' a(9'=> 52+21*0 *(5& = -92<79(P= %&'(7(

!# m2\( %(/1+&9 %&'(@*9 J+&1*&39 !:["# ,F *9&021/(+1& , &/(+&0(1.'& ./&+A 7+(/'2 -*:9)&12 *<*-2'2A =.2321& */:*9&A .&;2/9&0(

!DG



"G# ]9(1' X*0< R(0/

"# m2\( D&13+*29 O&7./ U*/.3-9 J+&1*&39 !:[<# J2+2;21(/ '+(.&31*7 ./=6( = '*142-/=B ./*-( h/2+* h :21(4A -92/23( 1027*:*7 T-929&0.'*7 ./&+(TA *:<2 @2 -9&;21&/& '+&512 & '9&+12 -9*5*92> <(

6& &8 '(.1&02 1(-=./&* & 5(;21&* .(;* '9&+1&;LA .1(K(1 =/&4(0 \(+&:21( :&<(1 1(9*3&/* 1(92+02M1*0 <2'*9(4&0& 7*9102 5*12 M(.(<2 J.+&31* '(* '*< W(+&7.1*7&F @/*N1&K(LA;*1=;21/(+&5(4&0( =+&312 M(.(<2 J.&;2/9&0(A <:( +&4( 579(<2B =+&31( , 79(<.'( & <:*9&)1( M(.(<(

, 8(*/&31( & *91(;21/&'(> 62+( M(.(<(L> (.&;2/90( <:*9&)1*7 <2+(A -9:& -=/ -929&0.'& -92-=)/2132/:*9*:*<1& '9*:A 1(7+()21 '(;&1> *'* '*7 .2 *97(1&5=02 42* -9*./*9 , 4292;*1&0(+1* 02579*'=@2<# ?&N+&*-.'(9 T&+7*'&9 !:[<# ,F X^_4*+2 <2. Y2(=` S9/.A R(0/ 0*) 1&02 0(.1* *-92<2+021, !CNI# 1(-=)/( 6&9* S<+29 k \(+&:21]# W-2A&*9 8(' `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

-92'* (.&;2/9&31&8 *.1*:(A 7.+&'& N/*0 '2\( 2 %&'(@2 & 8(' `(/'2 J'=@( i=1+&A r+2./29'=@( J1( +&/&4&LA !NH!#,!H# , 1(0-+*<1&02 7*<&12 J(-.*+=/1* 1(0-*51(/&0&> !CCN# , !NHN#LL, ![^!# L B/.A(7(10. Cl,.-1*3- & 2,.\. ,()&1.CA .=-9*/./(:+0( .2 J@**7*0 -.G&JTY*7*9*<&3&1( 49':( = a(9&5=TL <( @2 ;()&12 =1&)/&/& (98&/2'/=9= & &59(K(:( =:292102 <( .2;()&12 ;*7= '*9&./&/& 9(5=;1* & <( 02 =;2/1*./ /( '*0( ;()&1.'*; <*6= /926( <( =<(812 <=)=, !NH!# *60(:+0=02 <:( -9*02'/( Ta929&0.'( '=@(T = TX20<&. 8*=; K=91(+T,= , '9&./(+&5(4&0( ./&+(, */:*921 -+(1> 8*9&5*1/(+1* -9*./&9(102> -92-=)/21& '9*:*:& 6+(7*7 1(7&6(> 1&.'& 5&<*:&>*97(1&5(4&0( *'* '(;&1(> <&;10(3'( :29/&'(+( '(* '*1/9(-=1'/ -*+2/1*./& JTa929&0( &;(:+(./&/= +2-*/=> ( ;& ;*9(;* =3&/& & &./&4(/& 6() /= +2-*/= -9&9*<2> .-*'*0 9(:1&42TL, C`/./&03'( '2\(C J'*142-/ *60(.1&* !NIH#B */:*921 J/2'=@&L -9*./*9> 9(5(9(102 .*62 , '=/&02A8*9&5*1/(+1*./> -9*-*94&*1(+1*./ */:*9(A '(;&1> :&/9(K , -9*./*9& 5( *'=-+0(102L ,F 125(:&.1&/&- -*9*<&312 '=@2 = 52+21*; 9(:1&3(9.'*; *'9=K210=A R(0/ *'=-+0( /&; /281&3(9( & 5(1(/+&0(>'('* 6& ;*7(* <( *./:(9& .*-./:21= :&5&0= Tr2.(;/'=1./x29'T,( , T42+*'=-1*7 =;2/1&3'*7<2+(T;# m2\( D&+&-39 M(0+.1A `(/'9 ![^"# ,F '9./(/( *.1*:(A -+(1 9(5:&021 *'* '(;&1(> -9*./*9& .2.+*6*<1* -92+&:(0= 02<(1 = <9=7&A 8*9&5*1/(+1*; 9(5:&021*)@= '=@( .2 ./(-( .( *'*+&1*;J1(7+()21( <9:21( '*1./9='4&0(A 62+& -(12+& , ('* 02 62/*1 , *6*021&LS# m2\( T(/-&19 ?(e(+*9 ![^]# ,F *.1*:( = ':(<9(/1*; ;*<=+=> 592+*./ ./&+(A 8*9&5*1/(+12/9('2 '9&+1&8 -9*5*9( , .:2 .2 :&)2 -92/:(9(0= = *6+&'*:1= <*;&1(1/= J.:2 '(9('/29&./&'2

0(-(1.'2 '=@2A :&/9(K&LX# f@/(A( '*,B(1&0. E(/'&19 ?(e(+*9 ![^]#N ,F <2'*;-*1*:(102 -9*./*9( , '(9('/29&./&31*A

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6=<=@1*./& , =+&42 = :&)2 1&:*(A )&9*'2 :&)2.-9(/12 .(*69(@(01&42> -*'92/1& 8*<1&4& & ./2-21&)/(&5;2P= /29(.(./* -*./9*021&8 579(<(> +&M/*:& .-*+0( , 79(< +&3& 1( ;28(1&5(; , <&1(;&31(

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-9*02'(/L `+.H1&'4 ,F '*1/('/& .( b2;(3'*; & Y2+7&0*;> *<+(5& 1( -*5&: c(1( i*/0292 = )'*+= 5(

&1<=./9&0.'& <&5(01 = a9(7= J:9+* ':(+&/2/(1 '(<(9LA <:( =/&4(0(B !# <*;(@& 32)'& =/&4(0J<&0(;(1/.'& .:*<*:& , '.1* 7*/&3'&L = c=K1*0 Y*82;&0&A "# 49':( \:# c*:(1( , 6(9*'1( .(;*@1&; 7*/&3'&; 2+2;21/&;(, Z(1.'*7( '/&-&'( p/( W(7129( = 3(.*-&.= T\/&+T , e21'K&0( -/.N( A( 0. G(,.10.1(A.'*/(K&0*, L (/F&-.'-2/( 0. 2,.-1*3-9 ( 1. e21'K&0( JM=1'4&0= /926( 5(;21&/& '92(4&0*;L, *<:(0(102 *< W(7129( , (98&/2'/=9( 3&./2 =;2/1*./&, c(12' , /2*92/&3(9A 1(-&.(* 2.20 * ;*<291*0 (98&/2'/=9&, !N!!# 7*<&12 <*+(5& <* 9(.-(<( =1=/(9 '=6&./&3'*7 -*'92/( , ;+(<& (98&/2'/& .2 *<:(0(0= *<i*/0292 & 1(./(:+0(0= <2+*:(102 '9*5 H(3*B&3 Cl,.-1&H'& ,.3.H1&'C J*'* c(12'(L, -* Z(1.'2 ̀ (7.+2 , 3+(1(' a9&5;( & -&9(;&<(B 7+(:1& /2*92/&3(9> 1(-&.(* .3.0 C8A ,*A./1.(/F&-.'-2/. '( (/F&-.'-2/&CA *1* )/* 02 *.;&.+&* c(12' 92(+&5=02 r*3(9A <:2 <&;215&02 .+=K2

5( =;2/1&3'* .(7+2<(:(102> ( /9& 5( -9*./*91*

L Z*G.e 6*H(/9 !:## L ![];# ,F 92(+&5=02 &<202 c(12'(!# O*N1( '2\( 2 `/(@29 ![^[#L!^#"# W'2B)-&1( *B)-&1. 2 `/(@2 J12&5:2<21*L ,F '=6&./&3'( ./2-21(./( -(+(/(<# W-2A&0( B*G*/&)-(9 ![!!# ,F &79( .:2/+(A '*.2 9(:1& = 7*9102; <2+= , ('=./&'(]# =7*0(1 B*/*A&H1( G@/(A(9 ![!"#L!<#;# `/*0.'(- G( 3/.A102 )'*+2 2 m*-.N2/@G29 ![!"#S# W(1(-*/&02, 2 ?*FA(1.K29 ![!!#L!"# ,F M=1'4&*1(+&./&3'( *.1*:(A '=6&./&3'& 21/29&029 X# f@/(A( c/1( ?*@*/*A&K( J.+&31* 6&*.'*-= c(<9(1 '*< 1(.L ,F :9+* .215&/&:1* <2+*:# ?()-.13'& B(7&+0*1[# W'&K( B(7&+0*1( G( 02N&+(/12 &G+*>N2> 7+(:1& -9*02'/(1/ Z(1.' > ( =32./:=02 & 6*H(/

L `(7.+ Z(1.'4!# m/.A&-1( N(1'( 2 ?(/A*7&K(,("# 6/(A3'( '2\( L /.'*13-/2'K&0( PG( 1.'& ,(+& H.)'& @/(A L M(7+&H'*7 @/(AR<# m2\( A*'-*/( U*/.i /.'*13-/2'K&0(9 ![!<#]# W'&K. G( 3B*,.1&' Z(12 q&)'&9 ![!<#, ./=<&0( M(.(<2, .'&42 &5 -*.+29(/1*7 -29&*<( !N!Q#, 3B*,.1&H'& '*,B+.'3&

, 3B*,.1&' B(+&,( &G ![!X#, 3B*,.1&' Z(12 q&)'&9 ![!<#

L Z*G.e M*F*+9 !::^# L ![S^# ,F i*/029&1 =321&' /('*P2!# U(3(A( G@/(A.9 D&3G@/(A '*A `/(@(9 ![!<# ,F 1(09(<&'(+1&0& -9&;29A '=6&./&3'( <2'*9(4&0(, ./(0+"# W'&K( G( e(N/&'2 ,F =/&4(0 a+231&'(<# b/*3-(,N.1( G@/(A( 2 M.'+(1*7*0 2+&K& 2 `/(@29 ![!"#L!<#]# D&+( 2 D&).@/(A2 '*A `/(@( ,F *79(<( '=6&./&3'( , ./=<&0( M(.(<2;# c/'7( W7# `.-/( & `(7+(

, '(9('/29&./&'( '=6&5;( ,F /9(<&4&*1(+1( M=1'4&*1(+&./&3'( *.1*:( 5(;(.'&9(1( '=6&./&3'&;<2/(+0&;( , cJ6Eg

!GC



"E# i=6&5(;

L D(3-&3+(7 M*e,(19 !:X]# L ![S]# ,F &;-=+.&:(1 49/(3A +&1*925&> -9*02'/& 5( 579(<2>1(;2)/(0&> 21/29&029&> ###!# j(,.)-(0 & .1-./&0./"# l+(G 2 @/*N+0.9 ![!"#<# D/-1& B(7&+0*19 ![!<#

]# `(+(3'& -/@9 ![!<#;# W-(,N.1( G@/(A(9 ![!]#, T&1&3-(/3-7* @/(p.7&1. 2 D()&1@-*12 L T(/3.+ ?/*0./ ,F -9*02'/(1/ &5 Y(=8(=.,( , =/&4(032)'*7 '=6&5;(, %(3*B&3 CE02N(7 B/.,( 2,.-1*3-&C L 8-*'(/ j*7*-1&9 !["<# ,F <*;&1&9(0= .21'2 &

-+(./&31*./ M(.(<2A 79=-( (98&/2'(/( *'=-+021( *'* 3(.*-&.(B

L 8-*'(/ j*7*-1& ,F M*9;(+1( &1/29-92/(4&0(A .-*;21&' n&)'&, m/(+0.73'( B(+(-( 2 W*e&0& L '*1'2/3 o &5+*;+021& -(9(-2/&, f@/(A( G(A2>N&1( 2H&-.+0(9 ̀ /(@9 ![![# o

L D+(A&3+(7 & 8/.0.

L T(-.0 ?+.F(, `*3+*71. & 3-(,N.1. G@/(A. ,F <&0(;(1/

L Z*G.e %(B.' , .+&'(9A .+&'( &5 !N!D#

L D+(A&,&/ U2+-1./ ,F ./=<&0( :&+2

L ̀ .-./ m/*B(H.' , n-.A&*1&K(

L Z*G.e n-.B(1.' , c/'7( G( @/(A CIC, \/=<&0( M(.(<(> !N!N#

L Z&/>&F m/*F( ,F 02<&1& 1(./(:+0( '=6&5(; -*.+2 9(/(, j*\1& '+2N T*1,(/-/ ,F '=6&./&3'& 21/29&029 , c/'7( ,F .29&0( 9/2K( 5( .('9(+12 *602'/2 , '(/*+&3'2 49':2A :&)2 .2 49/(+* 127* 79(<&+*

, 9(.+*0(:(102 79=-2 -*.+2 9(/( -* 1(4&*1(+1&; )'*+(;(A !N!D#,!C# r*3(9 & c(1(' ,F (98&/2'/&

;*1=;21/(+1*7 1(4&*1(+1*7 ./&+(, `+.H1&' ,F K/'7(, 6*H(/ ,F B/*0.'(- G( T(3(/&'*7 -/@9 !["]# .( 1(4&*1(+1&; 2+2;21/&;(, r*3(9 &+& c(1(' m ,F 21/29&029 X27*6(1'> a9(7> !N""#,"I# ,F *56&+01* 1(9=)(:(102 '=6&5;(, Z(1(' ,F j(,.)-(0 2 ̀ /(@29 !["<#L";#i 83&@2/(7(02\& G(7*A9 ̀ /(@9 !["<#L";#, /&;2 32)'( )'*+( <9K& '*9(' .( *./(+&; 2:9*-.'&; (98&/2'/(;(, 6*H(/9 Z(1(' & m&3.+( , `/()'( 2,.-1&H'( /(A&*1&K( ,F -9&;21021( =;2/1*./

!GN



"E# i=6&5(;

, e(G. A.'*/(-&71&F B/&,.10.1&F .+.,.1(-( H.)'*@ '2N&G,(4 P<&5(01 1(;2)/(0(LV# !N!H#,!!# (1(+&/&3'& '=6&5(; ,F <&5(01 1(;2)/(0(> '*.2 9(:1&> &5+*;+0212> 491( & 69(*1 6*0(VV# !N!"#,!I# .'=+-/*9(+1& -92<;2/& ,F 12M=1'4&*1(+1&VVV# &5:2<21& 21/29&029& , 92./(0+&17 1(;2)/(0( .( -=1* '*.&8 9(:1& & )&+0('(> 92<&5(01 /9*=7+*:(,F 9(:1*/2K( -*:9)&1( & :*+=;21(A M*9;(+&5(;A 1*:( 8(9;*1&0(

, =/&4(0 1( 1()2 T-9()'2 P('2TL T*,&/ m*/21*7&\ ,F .9-.'* 12&;(9./:* h 32)'& '=6&5(;!# a*)/( "A n2+251&3'( ./(1&4("# T\*'*+.'& <*;T l s79(<( ZV],(> !N"N#I# ?&1&./(9./:* -*)/(> a(+;*/&@2:(> !N"E#L W7.-*,&/ E(G&\ ,F .9-.'& ;*<91&5(; h 32)'& '=6&5(;!# W&+( p+72 ?*.> q*+./*02:( JZ2<&102L, =/&4(0 1( 1(./(1(' 32)'*7 '=6&5;(Bt a(9&5 J69(@( Z&)(;- , W&+*1 ,F T5+(/1& -92.2'T> a&'.*> Y9('Lt a+231&' J49':( \:# Z=8(A M(69&'( \/*+:29'Lt 7*/&'( J126*> -+(12/2> ?2.24> 5:25<2L

t <*;(@& =/&4(0B '(.1*7*/.'& <&0(;(1/.'& .:*<*:& h 6(9*'1( 49':( \:# c*:(1(t b2;4& J?*./> b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r*3(9 , Tf91( Y*7*9*<&4(TL

, '2N&G(, 2 %.)'*0 PJJJR, '9(02; -9:2 <2'(<2 UU :# 1*:& /921<*:& = =;2/1*./&> 1(9*3&/* &5 .+&'(9./:(> <*)+& .= = %2)'==7+(:1*; &5 ]9(14=.'2 , .'3B/.3&*1&G(,9 '2N&G(,# a*<.2@(0=@& .2 1( &1-.@/(K&022,.-1*3-& & (/F&-.'-2/. = -29&*<= g/- j*27.(2> 32)'2 (98&/2'/2 .= K2+2+& <( 1(./(:2 /=/9(<&4&0= & = 1*:*0 .&/=(4&0&# b( /('(: &5(5*: *<7*:*9&+& .= ./:(9(0=@& 12*6&312 M(.(<2 .(.&./2;&;( -92+*;+021&8 -*:9)&1( = :2+&'*; 69*0= -+(1*:( ./:(9(0=@& =-(<+0&:2 &:&42 &5;2P=

-*:9)&1( .:2/+( & .21'2# i(* 925=+/(/ /*7 -9*42.( -9*&5&)+( 02 .-24&M&31( M(5( 32)'*7 '=6&5;(

L Z*G.e 6*H(/ L c/1( ?*@*/*A&K(9 ![!!#L!"# ,F 1( -9:*; .-9(/= .2 1(+(5&* '(M2 '*0& .= -*.2@&:(+& =;2/1&4& , -*.261* .+&'(9& & :(0(9&> ( 7*910& .-9(/*:& .= &;(+& '(142+(9&02> -*/-=1**/:*921*7 /&-( , 625 -9279(<(A M(.(<( *< (9;&9(1*7,62/*1( 02 -*/-=1* */:*921(> .( :2+&'&;

-9*5*9&;( , &.-=-321&;A 32/9& .-9(/( , -*.+2<10( <:( , ;(1.(9<1& '9*:L `+.H1&' , m2\( f(F./+9 ?.H9 ![^<#L^;#, c/'7( M.&+&@ 6.&3- PW7# =2F(R9 ?.H ,F <&92'/(1 -9*/&:=<(9(4 W(7129*:*0 (; \/2&18*M ,;1*7* <*.+2<1&0& 9(5:*0 9(4&*1(+&5(4&02 & =1&M&'(4&02 =1=/9()1027 -9*./*9(

L 6*H(/, W(1(-*/&02, 2 ?*FA(1.K29 ![!<# ,F =1=/9()102 -9*./*92 *6+&'=02 = '=6&./&3'*; ./&+=> ( 12.(;* M(.(<2

!QH



"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

":(# 5'3B/.3&*1&G(,

, .'3B/.3&*1&G(, L B*0(, & G1(H.10.9 ![!^#L"<# , b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l ./('+*L, 2'.-92.&*1&./&3'( (98&/2'/=9( 12;( M*9;(+1& -9*79(; &+& ;(1&M2./A :2@&1( 2'.-92.&*1&./&3'&8(98&/2'(/( 02 2'.-92.&*1&./&3'& &59(5 5(<9K(+( .(;* = 02<1*; -29&*<= .:*7 9(5:*0( J92:*+/ ,

-9*/&: /9(<&4&02 J6=9( -92< -9:& .:2/.'& 9(/LL, 2'.-92.&*1&5(; 02> = -9&14&-=> 12;(3'& M21*;21 J5( b2;(3'= 02 '(9('/29&./&31* -*./*0(102

:&)2 92+(/&:1* 125(:&.1&8 '=+/=91&8 421/(9( .( .:*0&; )'*+(;( (98&/2'/=92A '(9('/29&./&31( 02 &.'+*1*./ 1(4&*1(+1*0 (98&/2'/=9&> ( -9*/&: 2'+2'/&4&5;(L

, 2-&K(0&4, 8# U/&A/&F j&H. J*.1*:( 793'2 =;2/1*./& ,F = 92+&7&0& , <&*1&5&02:.'& ./(: ,F (-*+*1*:.'&1(.=-9*/ -9*-(7&9( 92<> <&.4&-+&1=A -92< -9:& .:2/.'& 9(/ b2;(3'( 02 2;*/&:1* =56=9'(1(B9(<&'(+&5(;> .*4&0(+&./& <*+(52> /('* <( +('* -9&8:(/( b&32*:2 &<202L!# 12;(3'& S9/ b*=:2(= Jc=721<./&+L <29&:(/& ,F *<6(4&:(102 &./*9&4&5;(> 9(5:&0(102 ='=.( 5(*97(1.'= M*9;=A 1(9*3&/* ('/&:1*./ = Z(9;)/(/= J8+N/&F9 51A.+ & A/2@&R"# 2'.-92.&*1&./&3'2 .+&'(9.'2 79=-2 ,F TZ&2 Y9=4'2T JCT*3-C9 =/.GA.19 *31*7(1 ![^;#AK2+2+& .= <( *'=-2 .:2 *12 '*0& T12-*.92<1* & &.'921* &59(K(:(0= *1* )/* &8 1(7*1& 1(

./:(9(102TA 1(051(3(01&0& , m&/F1./9 j*+A.9 m*'*)'(9 T21' A 125(:&.1* *< 10&8> -2.1&' `*+n./N./- !NHE# *6+&'*:(* 02 .4&2142 M&4/&*1 &+=5&0= =/*-&0.'2 6=<=@1*./&> =.;2921= -9*/&: 6=9K*(.'*7 9(M*9;&5;( & '=+/=92 &1<=./9&0.'2 <9K(:2A 69=/(+1&0&> M&7=9(+12 -92<./(:2> *.2@(102=.(;+021*./& 3*:2'( = ;*<291*; <9=)/:=L, TZ29 6+(=2 R2&/29T JC`+(7& '*10(1&' P0(F(HRC9 T&1F.19 *31*7(1 ![^[# J-* .+&4& W#i(1<&1.'*7LA 1(051(3(01&0& , D(3&+&0 m(1A&13'& & `*+ m+.L , .=-/&+1&0&> 12;( M&7=9(+1&8

-92<./(:(I# 629+&1.'& 3(.*-&.& 5( '=+/=9= C=./ W-2/,C & C=&. g'-&*1C9 ![!^# , (1(98&./&3'*7=.;29210(> -9*-*:2<(0= '*142-/ '=+/=92 '*0& 02 = *-*5&4&0& <9K(:1*;> *+&321*; = w29'6=1<,=D# 12'& *< (98&/2'(/( *'=-+021&8 = w29'6=1<,=B g1/& 7(1 A. D.+A.9 O&F(/A O&,./),&A9

`.-./ ?./.139 ###

, /(G7*0 .'3B/.3&*1&3-&H'. (/F&-.'-2/.4, -92 -9:*7 .:2/.'*7 9(/(B M(13 `.+K&@ & T('3 ?./@A -*.+2 -9:*7 .:2/.'*7 9(/( ,F <:22'.-92.&*1&./&3'2 ./9=02 = b2;(3'*0B, &5+*K6( w29'6=1<,( = i2+1= &5 !N!D#B '=+;&1(4&0( 9(.42-( 1( B/&3-(+&K. bQB&3&./21@L(J'*+2'/&:1*7 =.:(0(10( 1*9;(/&:1*7 *6+&'(L & m213-V*++.1L( J&1<&:&<=(+12 T:*+02 5(*6+&'*;TL> 9(.42- 02 5(8:(/&* .:2 72129(4&02 ./:(9(+(4( = w29'6=1<,=A J1( 02<1*0 ./9(1& .=1*9;(/:12 M*9;2 (98&/2'(/( , /9(<&4&*1(+&./&3'( ./9=0( '(* )/* .= M(13 E2'F(/-9 U/&K M2@./P%&+. F(239 M(,N2/@ ,F (<;&1&./9(4&0( & .'+(<&)/( , [(;6=97 l +='(A 79(1<&*51*> *< /(;12*-2'2L9 `.-./ ?./.13 PU.3-F(++.R & D(+-./ 6/*B&023 & gA*+e T(0./ PT*A.+ e(N/&'.R> ( 1(

<9=7*0 *97(1.'2 J&<2(+&./&L & M(1/(5;(7*9&312 J:&5&*1(9.'( =/*-&0.'( ./9=0(> -(-&91((98&/2'/=9(L 7(1 A. D.+A.( P`*G*/&)-.R &+& b(2-( PW-('+.1& B(7&+0*1R

!Q!



"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

, -*.+2 -9:*7 .:2/.'*7 9(/( -*+&/&3'& =/&4(0 1( 12;(3'= '=+/=9= .:2 .= 0(3&A 2'.-92.&*1&5(; -*./(02 M*9;( -9*/2./( .( .*4&0(+&./&3'&; -92<51('*; J-9*/2./> 6=1= -9*/&: .:27( )/* 02 b2;(3'= 7=91=+* = 8(*.LA &59(5 /&8 /21<214&0( .= & 79=-2 Cg/N.&-3/(- e2/ m213-C &Cj*7.,N./@/2BB.C4 J1(./(0= &./*:92;21*Lt g/N.&-3/(- e2/ m213- PO(A1&H'& 3(7.- G( 2,.-1*3-R9 *31*7(1 ![!:#> *'=-+0( (98&/2'/2>

.+&'(92 & -*'9*:&/2+02A (98&/2'/& &5 Y29+&1( & *'*+&12B ?/21* & T('3 b(2-9 gA*+e ?.1.9 D(+-./6/*B&0239 8-* ?(/-1&1@9 5/&F T.1A.+3*1 & A/2@&A 79=-( 02 1(./*0(+( <( :9)& -*+&/&3'& =/&4(0BT=;2/1*./ & 1(9*< ;*9(0= 6&/& 02<1*T J/*/(+1* =;2/1&3'* <2+* =5 ('/&:1* =32)@2 1(9*<(L ,=;2/1*./ 12 .;2 6&/& -9&:&+27&0(> :2@ = 10*0 ;*9(0= =32./:*:(/& )&9*'2 1(9*<12 ;(.2A 79=-( 02![![# *97(1&5*:(+( /5:# C&G+*>N2 1.B*G1(-&F (/F&-.'(-(C 1( '*0*0 .= &5+*K&+& .:*02:&5&*1(9.'2 9(<*:2A 6/*B&023*7 B/.A@*7*/ &G+*>N&> =./:(9& B/7( 3'&K( ?(2F(23L(> *6=8:(/(

-*5&: <( (98&/2'/& .+&'(9& & :(0(9& 1(-9271= .:*02 ./:(9(+(3'2 .1(72 & ./:*92 1*:= '=+/1= 579(<=, '(/2<9(+= 6=<=@1*./& J/0# .*4&0(+&5;(L> '*0( 02 '9(010& 4&+0 =;2/1*./& J2':&:(+21/.92<102:2'*:1*7 .02<&102:(10( .:&8 .1(7( <9=)/:( *'* 79(<102 '(/2<9(+2LA 79=-( -*.+2 7()210(.-(9/('*:.'*7 =./(1'(> !N!N> -*3&102 <( .2 *.&-(> .:2 <* '*1(31*7 9(.-=)/(10( !N"!#A <=879=-2 -92/*321 02 = T=/*-&0.'= '*92.-*<214&0=T ?/21( b(2-( & ?(2F(23L( B*A 7*p3-7*,

6/*B&023( J21297&0( 79=-2 -92/(32 .2 = 1&5 B&3(,( -*< 1(5&:*; CW-('+.1& +(1(KCJ4&9'=+(91* -&.;*L , 5(-*32* +(1(4 "D#!!#!N!N#A q(=/*:( 5(;&.(* 02 6&+( <( = '9(/'&;9(5;(4&;( .:('* 49/( &+& 5(-&.=02> 12M*9;(+1*> &<202 '*02 K2+& &5+*K&/& '9=7=A =32./:*:(+* &8 02!D> .(;* 02<1( -*+*:&1( =.-2+( *./:(9&/& <2+( *< /9(01*7 51(3(0(A 32./* '*9&./&+& -.2=<*1&;2Jq(=/ l r+(.L & /9(02 <* "D#!"#!N"H#t j*7.,N./@/2B.9 *31*7(1( ![!:# ,F *'=-+0( 69*012 =;2/1&'2 9(5+&3&/&8 -9*M&+(A (98&/2'/&J9(<&'(+1& =;2/1&4& +2:2 *9021/(4&02LB D(+-./ 6/*B&0239 M2@* M./&1@9 5/&F T.1A.+3*19?/21* & T('3 b(2-9 T&3 7(1 A./ O*.9 E2A7&@ M&+N./K(0,./ & A/2@& A 79=-( 1&02 7(0&+(

-*+&/&3'2 (;6&4&02> :2@ .2 9(<&'(+&5(; 3+(1*:( *<1*.&* =7+(:1*; 1( =;2/1&3'2 /2;2A =%&'(7= !N!N# .2 &50()10(:(0= 5( *<6(4&:(102 -92/8*<1&8 2'.-92.&*1&./&3'&8 M*9;&> ( 5(=-*/926= 1*:&8 2'.-92.&:1&8 /281&'(A 79=-= .= 5(69(1&+& 1(4&./& !NII#

, .'3B/.3&*1&3-&H'& (/F&-.'-& & 10&F*7( A.+(4L M(13 `.+K&@ PM(13 `*.+G&@R9 !:S[# L ![<S# ,F 9(1& 9(<*:&B 9(5+&3&/& (98&/2'/*1.'& -9&./=->&59(K(:( /9(01*./> ':(+&/2/> .*+&<1*./> 0*) .2 12 *.2@( 2'.-92.&*1&5(; J-9&'(5=02 &8 = Z925<21=1( &5+*K6& 02<1*7 :2'(L, c/'7( 2 T(+H2, 6/(A3'( 7.\1&K( 2 E*7.1N./@2, `*/*A&H1( '2\( 2 ?/(-&3+(7&, m2+( m(/+( n+.G&0( 3( &G+*>N.1&, B/*3-*/*,, <9=7( :2+&'( +&31*./ w29'6=1<,( J-*.+2 a# Y2921.(L ,F &1:21/&:(1

, ./=<&9(* 1( q281&3'*0 )'*+&> !CCC#,NI# = Y29+&1= J7<2 02 & 9*P21L, &;(* 6&9* = Y92.+(= J6&* <&92'/*9 =;2/1&3'2 S'(<2;&02 = Y92.+(=L <* !N!Q#> -*/*; 6&*79(<.'& (98&/2'/( & -9*M2.*9 = Z925<21= J!N!!# (M&9;&.(1 = Y9(/&.+(:& & -*/*; 9(<& .:*0( <:(:2+&'( <2+( J! & "L = '*0&;( (1/&4&-&9( q(=/( & ?21<2+.*1(L, !N"I# -*./(* -9*M2.*9 q281&3'2 )'*+2 = Y29+&1=, A.+(4!# U(N/&H'& '*,B+.'3 PF.,&03'( e(N/&'(R9 E2N(1 '*A `+G.1(9 `*+03'(9 ![!!#L!"#A(.&;2/9&31& 6+*'*:& *< *-2'2> .1(K1( (9/&'=+(4&0(> *97(1.'* 02<&1./:* , 9(<&'(+1( (+/291(/&:(T'+(.&31*;T ./&+= Y2921.*:&8 M(69&3'&8 *602'(/("# D*A*-*/(10 `*G1(109 M(,N2/@9 ![!!# ,F ./2-21(./* .=K(:(102 & )&92102 = :&. -*'921=/2;(.2A *-2'( = ;2/(+1*0 92)2/'&

, b*/(10 G( @(39 =/.GA.19 ![!X# J12&5:2<21 , ;('2/(L

!Q"



"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

<# D.+&'* B*G*/&)-.9 ?.+&19 ![![# J'+0=31* <2+*L ,F -*5*9&)/2 .( GHHH ;2./( J92(+1* IGHHL 5(T(&3( O(01F(/-( , (<(-/(4&0( 4&9'=.'2 579(<2 J./(92 /9K1&42> '(.1&02 4&9'=.LA .-*+0( ,*79*;12 ;(.2 = 591(./*; ;(+/29= J6+&5(' '*1/('/ '*+*.(+12 -*5*91&42 & (=<&/*9&0=;(L>

-*:9)&12 *K&:+0212 = =.'&; .+2-&; +='*:&;( = =1=/9()10*./& , T./(+('/&/.'&T 21/29&029 .(+2 J'(* -2@&1(L , &5:2<21 &5 ('=./&'2 & *.:2/+0210(> M*(02 .( 12*6&31&; -23=9'(./&; ./=6*:&;(

, !N!N# , -*5<9(:1& 7*:*9 -*:*<*; -9*7+()210( 5( -92<.2<1&'( w29'6=1<,( , 5(+(7(102 5( -9&14&-2 Ti=1./x*++21T J:*+02 5( *6+&'*;L]# `/*0.'(- 37.H(1*@ e.3-&7(+3'*@ B*G*/&)-( P,2G&H'& K.1-(/R9 W(+GN2/@ P/*p.1 T*K(/-R9!["^# J1&02 &579(P21*> 1(0(;6&4&*51&02A =/&4(* 1( q(=/(L ,F &.'(5(1( :2+&'( :2)/&1( =

-*./&5(10= .'+(<(> 9&/;( & -*'921=/*./& *6+&'(> '(* & .215&6&+&/2/ 6+&5(' .( =;2/1&4&;(T\/('+21*7 +(14(TA ;*@1( -9*./*91( 21297&0(> )&9*' -*/25 J'(* .-&9(+1( -&9(;&<(> ./(+('/&/&.-*+0( & =1=/9(L;# `/*0.'(- Cm2\. B/&0(-.+03-7(C J'*1'=9.1& 9(<L9 c(/&@/(A9 ![!X# ,F /2./29(./* .;('1=/2;(.2 J'(.'(<1& *602'(/ .( :9/*:&;(L> *79*;12 <&;215&02> .+2-& +='*:& & =.'& -9*5*9& J&57+2<'(* )=-+0&1( &.-=1021( ./(+('/&/&;(L, '(.1&0( <2+( [(1.( a2+4&7( .= = '9&-/* , '+(.&31*; ;(1&9= ,F N&*3'*B Cm(B&-*+C9 ?./+&19

![";#S# O9(<&* 02 3K.1*@/(e&02 G( 0.A(1 .'3B/.3&*1&3-&H'& e&+, ,F -*.+2<102 )/* 02 =9(<&* =2'.-92.&*1&./&3'*; <=8=X# ̀ *3+*71( G@/(A(9 ?/(-&3+(7(9 !["!#:# m(B.+(9 =/.GA.1 J12&5:2<21*L9 !["!#, A*A(-('4, &1/292.(1/1* 02 <( 02 *1> ( 12 q(=/> 7*/*:* *./:(9&* Cm/212 @/(A(C> & 6&* 6+&K& n./N(/-*7*0&<20& .:2/+(!# M.,&03'( e(N/&'(9 E2N(1 '*A `+G.10(9 ![!"# ,F .(5&<(1 *< *-2'2> *56&+01* 02'*1'=9&.(+( &1<=./9&0.'*; ./&+= '*0& 02 Y2921. =-9(:* 6&* ./:*9&* 5( S_r , -* 5(:9)2/'= 9(/(>a2+4&7 .2 = .:*; -*5<9(:1*; -92<.2<1&3'*; 7*:*9= w29'6=1<,=> !N!N#> :9(/&* 9(.-9(:& *Tqd-&.&29=17T & 5(+(7(* 5( -9&14&-2 -*0;( Ti=1./x*++21T"# D*A*-*/(10 2 `+G.102 J*/2+*/:*92102 Ti9=12 79(<(TL<# `*G*/&)-.9 G( T('3( O(01F(/-(9 ?./+&19 ![![# ,F .:2/+=4(:*> &+=;&1*51* 9(./(-(102*6+&'( & -9*./*9(A GHHH .2<&)/(A =1=/(9 :2+&'2 '=-*+2 .;2)/21& .= .:*02:9.1& -9&:2.4& '*0&;()=-+0&1( '=-*+2 <(02 '9=K1* '92/(102> /('* <( .2 -9& 92M+2'/*:(10= .:2/+*./& *< 10&8 ./:(9(=/&.(' 9(./(-(10( & 62.'*1(31*./&A !N!!# (M&9;&.(1 = Y9(/&.+(:&> ./:(9( .:*0( <:( :2+&'( <2+( ='*0&;( .-*(0( q(=/( & ?21<2+.*1(]# CU.3-B&.+F(23C9 W(+GN2/@ J.:23(1* M2./&:+(.'* -*5*9&)/2L ,F .+&31*./ .( '=@*;

-9&0(/2+0./:(A 1027*:& /2' ./:*921& ;*/&:& ./(+('/&/(> *:<2 .= -929(.+& = .&;6*+ Ti9=12 79(<(T*79*;1&8 <&;215&0(A *6+&4& +='*:( /('* .= -*:25(1& <( *6+&'=0= 5&7=9(/> 3&0( =1=/9()10*./

<2+=02 '(* -9&5;(/&31( )=-+0&1( &.-=1021( ./(+('/&/&;(A *:* 02 & -*.+2<102 a2+4&7*:* .(.:&;2'.-92.&*1&./&3'* <2+* J=5 3K.1*@/(e&02 5( M&+;LA N&*3'*B Cm(B&-*+C 2 ?./+&129 ![";# ,F -*:9(/(' '9&-/* '+(.&31*;

L T('3 ?./@ L M(+( 2 ?/.3+(29 ![!"#L!<# ,F &5=52/(1 /92/;(1 (9;&9(1*,62/*1.'&8 926(9('=-*+2 -9231&'( QG ;A ./2-21(./* -*./(:+021& -9*5*9& -92'* 926(9( '=-*+2A '*1:214# .-*+0#

L ?/21* b(2- P?/21* b(2-R9 !::^# L ![<:# ,F ./('+*> 62/*1> 32+&', 9*P21 & )'*+*:(* .2 = i*+&7.6297= J./=<&9(* '*< b.*A*/( U&)./(> '(* & ?21<2+.*1L, 9(<&* =7+(:1*; = Y29+&1=> u/=/7(9/=> ?(7<26=97=> ###, !N!D#,I!# 9(<& .( 69(/*; ?('.*;

, A.+(4!# ![!<#L!]# B/*0.'-*7(* 7/-1( B/.A@/(p( G( T(@A.N2/@ & ?./+&1

!QI



"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

"# ![!<# 1( CT.p21(/*A1*0 @/(p.7&13'*0 &G+*>N&C 2 E(0BK&@2 @/(A& CWB*,.1&' @7*>p2CPH.+&H1& B(7&+0*19 E(0BK&@ , .( ]9(14*; [*M;(1*;L> 3&;2 .'92@2 -(K10= 1( .262<# W-('+.1& B(7&+0*1 P.:2 *< ./('+( , +='.M29 -9&5;2L9 &G+*>N( Y./'N21A 2 m.+129 ![!]# ,F./2-21(./ =1=/9()10& -9*./*. .( :*<*-(<*;A 02<(1 *< -9&./(+&4( -9&14&-( T:*+02 5( *6+&'*;T>1(.=-9*/ T1*9;(/&:1&; M*9;(;(TA B.31&' `(2+ n./N(/- J= &./* :92;2 -=6+&'=02 '10&7=

Cg/F&-.'-2/( 3-('+(C -*.:2@21( q(=/=L , (=/*9 (M*9&5(;( 1( ./('+21*; -(:&+0*1= JC37.-+*3--/(>& '/&3-(+C9 C3-('+* A*1*3& 1*7* A*N(C9 C3-('+* 2N&0( ,/>102C9 ###R A q(=/*: -(:&+0*1J:&)2=7(*1( *.1*:(A M*1/(12 .( '(.'(<(;(A *.:2/+021* 9(51*6*01&; 92M+2'/*9&;(L &;( 12)/**< <=8( 7*/.'2 '(/2<9(+2A -*.:2@21 02 .:2/+=> -&9(;&<(+1*7 *6+&'(> -92<./(:+0( /2K10=*./:(9210( -(9(<&7;2 .:&8 '=+/=91&8 579(<( & =96(1*7 2+2;21/( 5( -92*69(K(0 <9=)/:( J.:2/+* =a(:&+0*1= -9*.&92 '9*5 M(.2/&9(1= '=-*+= & 5&<*:2 *< ./('+21&8 6+*'*:( & *.:2/+0(:( ('.&0(+1=

-9*./*9&0= .( E .+*02:( *-+(/2> *-/*321= ./('+21&; ;*5(&'*;L, A.+( " & < .= 1(051(3(01&0( <2+( -92 -9:*7 .:2/.'*7 9(/(, C=&. n-(A-'/*1.C PC'/21( @/(A(CR ,F -*+2;&3'& 2.20 '*0& 02 -(4&M&./( q(=/ 1(-&.(* /*'*;9(/(> & = '*; .=6+&;&9( *:( .:*0( .8:(/(10( J:25( .( 6/*B&023*7*, Cm(-.A/*,N2A2\1*3-&CRA -*.+2 9(/( q(=/ &./9(K=02B !# /9(1.M*9;(4&0= 42+2 -+(12/2 = 6*+02 <9=)/:* ,

-*+&/&3&> .*4&0(+1& -9&5:='A "# :&5&*1(9.'2 ':(+&/2/2 (98&/2'/=92 , 12&5:*<+0&:*, !N!C# =32./:=02 = *.1&:(10= Cg/N.&-3/(- e2/ m213-C & Cj*7.,N./@/2BB.CA q(=/ .2 5(+(K25( ./:(9(102 =;2/1&3'2 '*9-*9(4&02 5( =5(0(;1= .(9(<10= & -*;*@, q(=/= 02 02<&1& 4&+0 <( '=@( T6=<2 +2-(T ,F '=@( *< ./('+(> .(1* -*./(;21/ *< (9;&9(1*7,

62/*1( & 1*.2@( '*1./9='4&0( *< ;2/(+(, Cg+B3'( (/F&-.'-2/(C ,F '10&7( , (98&/2'/=9( 1( -+(1&1(;(> :98*:&;(A '*142-/B '=-*+(

-*'9&:( :98*:9> = 421/9= 02 212972/.'* -*./9*02102 '*02 1( :98= &;( T.:2/+2@2T '=-*+2, !N!N# =32./:=02 1( CJG+*>N& 1.B*G1(-&F (/F&-.'(-(C, !N!N# -*'92@2 H(3*B&3 C`/(3'*G*/0.C J&51*.& '*1/9*:29512 ./(:*:2 (98&/2'(/( & =;2/1&'(T\/('+21*7 +(14(TL & 2-*B&03'2 '*/.3B*A.1K&02 5:(1= CW-('+.1& +(1(KC PC=&. @+(33./1.m.--.CR = '*0*0 =32./:=02 !D '*+27(A 4&+0 T\/('+21*7 +(14(T , .,(1K&B(K&0( '/.(-&71. 2+*@.1.37.31*@ J.:('* 02 /926(+* <( 1(-&)2 &+& 1(49/( 12)/* 12M*9;(+1*> -* .*-./:21*; 1(8*P210=>)/* 6& K2+2* <( -*<2+& .( 42+&; '9=7*;LA -.2=<*1&;& Jq(=/ l r+(.LA T\/('+21& +(1(4TB /9(0(102*< "D#!!#!N!N# <* "D#!"#!N"H# J-9&6+&K1* !I ;2.24&L, =32.1&4& T\/('+21*7 +(14(T -*.261* .= .2 5(+(7(+& 5( ./:(9(102 .92<102:2'*:1*7 ;*<2+(79(<&/2+0.'*7 /&;(> -92<+(K= CW-('+.1. 3B*,.1&'. '*0& \. G/(H&-& 37.-+*)\2C, !N"H# -*3&102 9(.-(< T\/('+21*7 +(14(T 56*7 /*7( )/* 12'& *< =32.1&'( =:&P(0= 12.'+(<&5;2P= T.+*6*<212 12.:2.12 M*9;2T & .(:92;212 79(<.'2> '*0( /2K& 9(4&*1(+1&; ;*1/(K1&;>&1<=./9&0.'&; -9*42.&;( , *61(:+0( .2 /2;( .='*6( = w29'6=1<,= J<* ;*;21/( '(< .= .2

6(:&+& -(-&91*; (98&/2'/=9*; & &<20(;(> 6&+& .= <*.+2<1& <=8= ./('+212 (98&/2'/=92 &2'.-92.&*1&5;(A '(<( .= <*6&+& ./:(912 1(9=<K6&12> 1&)/( *< /*7( 1&.= &.-*)/*:(+&> :2@ .2

-9&+(7*<&+& '9(0102 9(4&*1(+1*; -9&./=-=L, !["^#9 '10&@( CO(3B(A(10. @/(A(C = '*0*0 q(=/ -92<+(K2 9(.-=)/(102 79(<*:(A ./:(9(;*<2+ 9(<&0(+1*7 -*+0*-9&:92<1*7 1(.2+0(> M*'=.&9(1*7 '( '/&3-(+1*0 Cj.N.3'*0 '2\&C ,579(<& =-9(:2 5(02<1&42A -(9(<*'. q(=/*:*7 (1(98* , .*4&0(+&5;( 02 6+&.'*./ .(/*/(+&/(9&./&3'&; &<20(;( /*7( :92;21( J3(' M()&./&3'&; , /('* 02 5(;&)+0(* (=/*9&/(/&:12<9=)/:212 &1./&/=4&02L, !N"!#> 79(<.'& .(:2/1&' 5( (98&/2'/=9= ?(7<26=97(A -*'=)(* <( *./:(9& &<20= Cm/21.@/(A(C B/*0.'-*, @/(A3'. &G+*>N.1. A7*/(1.A &-('> =.'*9* 1(-=)/( /2 &<202 =:&P(0=@&

-9('/&312> .*4&0(+12 -*/9262 = 8(*/&31*0 ./:(91*./& W(0;(9.'2 92-=6+&'2]# C`*-'*7&H(3-* 1(3.+0.C9 ?./+&19 ![";#L<^# ,F = V1/291(4&*1(+1*; ./&+=A 02M/&1& 9(<1&3'&./(1*:& , 925=+/(/ =:&P(10( 51(3(0( ;(.*:1*7 ./(1*:(10(

, !NIH#,I"# -9*M2.*9 q281&3'2 )'*+2 = Y29+&1=> 3+(1 a9=.'2 S'(<2;&02 =;2/1*./& J6*9(:&* 02B!NI"# = ?*.':&> !NII# = 0(-(1=> !NIQ# = V./(16=+=L

!QD



"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

, !NII# 2;&79&9(> !NIC# =;&92 = q=9.'*0 JV./(16=+L

L 5/&F T.1A.+3*1 P5/&KF T.1A.+3*F1R9 !::X# L ![;<# ,F <:2 M(52B !# <* 2;&79(4&02 !NII#J12;(3'& 02:920&1> ;*@(1 3*:2'L , '92(/&:(1> =.-2)(1 &5 6*7(/2 -*9*<&42A "# -*.+2 !NII# ,

6251(3(01( <2+( J2;&79&9(L

, ./=<&9( 2'*1*;&0=> -( 02 1(-=)/(A 2+&/1* *69(5*:(102 J( /926(* 6&/& /97*:(4 , */(4 /97*:(4L, ./=<&9(* = Y29+&1= & ?&1821= , '=+/=91& 421/(9> +&'*:1& =;2/1&4& JTa+(:& 0(8(3TL , = <2+&;((-./9('/1&8 =;2/1&'( 1(+(5&* &1.-&9(4&0=, 9(1& 49/2K& +&32 1( :(1 <2 W2+<2( & Y2921.(, !N!"# *.1&:( 6&9* , -*32/(', !N!"#,!D# 6(:& .2 .+&'(9./:*;> .421*79(M&0*;> -9*02'/&;(A !N!D#,!C# ,F :*01&' b2;(3'2 1(&./*31*; & 5(-(<1*; M9*1/=, !N!C# -*./(02 3+(1 TS962&/.9(/ M=9 i=1./T & Tb*:2;62979=--2T J9(/ ,F 9(5;&)+0( = 9*:*:&;(A.'&42 :2+&3&12 '=/&02 )&6&4(A M(1/(./&31& 49/2K&> 2'.-92.&0(L, !N!N# =32./:=02 1( TV5+*K6& 12-*51(/&8 (98&/2'(/(T, A.+(4 J*9&7&1(+1( & 0(.1( -9&;21( ;(/29&0(+(B 32+&'> 62/*1> ./('+*A 1(;21= 1(51(3(:( *6+&'*;

579(<2A :98=1(4 1027*:2 2'.-92.&02 , 1027*:( :&5&0( Ti9=12 79(<(T , 1(5&:(0= 02 T\(9'*M(72'.-92.&*1&5;(TL!# 8B3./7(-*/&0( g+N./-( g01)-(01(9 `*-3A(, '/(0 ?./+&1(9 ![!X#L"!#A -+(./&4&/2/ '*0& +&3&1( 62/*1> (+& = -&/(10= 02 ;(+/29&.(1( *-2'( J56*7 *-+(/2 & 1*:4(LA :25( .( .'=+-/*9(+1&;M*9;(;( 7(1 A. D.+A.*7*@ Y./'N21A B*G*/&)-(9 b(2-*7*@ W-('+.1*@ B(7&+0*1(> (+& & .(8*+(1<.'&; 2'.-92.&*1&5;*; J3-&+ CW+(,1(-&F '/*7*7(CRA *6+2 M*9;(> 1&.= ;*7+& 1(-9(:&/&*-+(/= J-*5&:(0= ;(0./*92 *-+(/2 5( .:*<*:2LA 49/2K& '(* .29&0( ;()&1.'&8 2+2;21(/(, -*.2/( [*+(1<&0& , =-*51(02 .2 .( 9(<*; (98&/2'(/( Cg,3-./A(,3'. )'*+.C & .(O*-./A(,3'&, /(K&*1(+&3-&H'& */0.1-&3(1&, (/F&-.'-&,(A .;(/9( <( Cg1(+&-&H'& O*-./A(,*<6(4=02 :&5&0=> ( D&G&*1(/3'& g,3-./A(, 12 9(5=;2 *602'/&:1*./TA *1 .:*0 .215&6&+&/2/.;2)/ (127<2 &5;2P= J& /* *60()10(:( = -&.;= .:*0*0 K21&L"# U(N/&'( ).)&/(9 E&'.17(+A.9 !["!#L"<#A *'92@2 .2 &59(K(01*./& '*1./9='4&02 & ;(/29&0(+(A'*1/9(./&9( '*.2 '9*:*:2 8(+( .( 9(:1&; '9*:*; (<;&1&./9(/&:12 579(<2 J/(0 '*1/9(./ @2'(.1&02 '*9&./&/& = -9*02'/= b.'3-&+1. e(N/&'. 2 E.10&1@/(A29 ![";#, !["<#L"X# &5:*<& 7&). e(N/&H'&F & (A,&1&3-/(-&71&F G@/(A(> <*+(5& <* /&-.'*7 T/9('(./*7T92)210( M(.(<2 =-9(:1*7 6+*'(A '*1./9='/&:12 42+&12 .2 .(./*02 *< 02<1*./(:1&8 72*;2/9&0.'&8

02<&1&4( =92<12 -9*M&+(4&02B W&1A&'(- ,.-(+(K(9 ?./+&19 ![";#9 N&*3'*B Cl1&7./G2,C9 ?./+&1& 1&5 <9=7&8 *602'(/(<# D*@( L '*,B+.'39 ?./+&19 !["S#L<!# ,F '=+/=91& 421/(9 '*0& ='+0=3=02 & 6&*.'*-TO1&:295=;T 5( !CHH *.*6(> 3&0& 21/29&029 <*6&0( -(9(<&7;(/.'& 51(3(0 5( *:= :9./= *602'(/(BO*N1( '2\( 2 n-2-@(/-29 '2\( m*+2,N&0(9 ?./+&19 ![<!#

]# O*N1( '2\( `.-./3A*/e9 ?/.3+(29 `*+03'(9 !["X# ,F 92;2',<2+* *:2 M(52> .;21( ./('+21&8 -9*5*9.'&8 /9('( & -9*M&+&.(1&8 -(9(-2/(> 02<1*./(:1(> ( <&1(;&5&9(1( 72*;2/9&0(;# f@/(A( C?./+&1./Lb(@N+(--C9 ![<!# ,F -92<+*)'( 0*0 6&+( `.+K&@*7( -*.+*:1( 579(<( =Y9(/&.+(:&, !NII# 2;&79&9( ,F _17+2.'(> X*1<*1 ,F V59(2+> a(+2./&1( ,F \SZA = g,./&K& 79(<& W&1@*@. &<9K& -92<(:(10(A =;&92 !NGC# = \(1 ]9(14&.'=, *3-(+& 7(>1&0& .'3B/.3&*1&3-&4 M2@* M./&1@9 8-* ?(/-1&1@9 U/&K M*.@./9 O2A*+e n-(01./9M(13 n(/219 ###, A.+( 7(1 G.,+0.4, =. +( V(// B(7&++*19 51@+.3'(9 ![<]#, N*+1&K.9 N(1'(9 3-(,N.1( G@/(A(9 '*+.A>9 N&N+&*-.'(9 `(+.3-&1(

, N*+1&K(9 3&1(@*@.9 *B)-&13'. G@/(A.9 Wg=

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"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

":N# g,3-./A(,3'( )'*+(

, g,3-./A(,3'( )'*+( ,F [*+(1<&0(> !N!H# , <&0(;2/9(+1* .=-9*/(1 -*'92/, 79=-( (;./29<(;.'&8 (98&/2'(/( *'=-+021&8 *'* 3(.*-&.( Cf(*'/.-&C JTw21<&721TL> !N!C#,IQ# '*7 02 &5<(:(* M.1A/&' b.*A*/23 D&0A.7.+A> 7+(:1& /2*92/&3(9 79=-2, 2G*/&4 ?./+(@.9 /(1& O(0-9 W(0B./3, &59(5 T)'*+(T -*/&32 *< <=6*'2 -9&:9K21*./& *:&8 (98&/2'(/( &./&; -9&14&-&;( = *6+&'*:(10= &'*1./9=&.(10=A /& -9&14&-& 6+&.'& .= -(9(+2+1*; 12;(3'*; 2'.-92.&*1&5;=> ( = .=-9*/1*./& .=.( 9*/29<(;.'*; T(1(+&/&3'*;T (98&/2'/=9*;B 1(0:(K1&0& 9(<*:& *:2 79=-2 :25(1& .= 5(92(+&5(4&0= 3-(,N.1&F H.-7/-& Z2>1*@ g,3-./A(,( J/.@2+(K&*1& B+(1 ?./+(@.(R /*'*;![!X#L"]# J=7+*:& *< -9*M&+&.(12 *-2'2 & .( '9*:*:&;( *< 492-(L

, *B)-. *A+&'. (/F&-.'-2/. g,3-./A(,3'. )'*+.4!# -9*02'/*:(102 = .(7+(.1*./& .( -+(1*; Y29+(72( J-9&14&- 5(/:*921*7 6+*'(>'*1/2'./=(+&5(;> <=8 ;2./(> ###L

"# &./*:92;21( 02<1*./(:1*./ & .'9*;1*./ 1( 02<1*0 ./9(1& J*-2'(> 62/*1> /9(<&4&*1(+1&(98&/2'/*1.'& 2+2;21/& , /*9102:&> <&;10(4&> 29'29&> 02<1*./(:1& -9*5*9&L & .+*K21*./ &./9='/=9(+1*./ 1( <9=7*0 J12*6&312 M*9;2> /(+(.(./& & .+*6*<1* *6+&'*:(1& 5&<*:&> <&1(;&312.&+=2/2LI# 9*;(1/&5(;> M(1/(5&0(> 2'.-92.&:1*./D# 8=;(1*./ , 9(51*:9.1*./ /&-*:( '=@(> &5+(5 &5 .'*9* .:('*7 ./(1( <&92'/1* 1( =+&4=J./2-21&)/2L> 9(59(<( <2/(+0(> ###

, 1(07(>1&0& (/F&-.'-&4 M# b# D&0A.7.+A9 Z# U# W-(+9 Z# T# 7(1 A./ T.09 `# E# m/(,./9 T# A.m+./'9 ###, )'*+.'& -9&;29 S;./29<(;.'2 )'*+2 02B ?/*A(/3'( G@/(A( 2 g,3-./A(,29 ![!]#

, *:(0 -9(:(4 02 = -9&14&-= 6&* =-2921 -9*/&: Y29+(72(, &1<&:&<=(+1* =;2/1&3'* =*6+&3(:(102 .;(/9(+* .2 5( 4&+0, !N!"#,"Q# 9(5:&+( .2 12'( :9./( 2'.-92.&*1&5;( .+&31( *1*; = b2;(3'*0 , 9*;(1/&31( )'*+(<2 i+29'(

L M./,(1 U&13-./+&1 ,F .(;* 49/(*> 1&)/( 1&02 &5:2*A '(9&'( T\/('+21*7 +(14(TA 12*6&3(1>M&+*5*M.'& -*7+2< 1( (98&/2'/=9=A 9*P21 !CCE# = ?&1821=A 1&02 6&* (98&/2'/(A ./=<&9(*B 82;&0=>M&5&'=> ;2<&4&1=> (./9*1*;&0=A ;1*7* &5+(7(*A &5+(K2 W(+/29( r9*-&0=.( 1( TV5+*K6& 12-*51(/&8(98&/2'(/(TA 49/2K& l *97(1.'& <2* -9&9*<2A 579(<( l K&:& *97(1&5(;A 12;*7=@&> 12&5:*<+0&:&*6+&4&> 625 '*1./9='/&:1&8 2+2;21(/(> 625 =7+*:(A -*:25=02 21/29&029 & 2'./29&029 = 02<&1./:21=42+&1=A .'=+-/*9(+1* *69(P=02A !NQ"# = 7(+29&0& = Y29+&1= &5+*K21& .= /& 1027*:& 49/2K& J-*.+2 DH

7*<&1(L , 3=:21& &1/29:0= /&; -*:*<*;, 3(,* K/-.>&

L M(13 E2'F(/- ,F -9:& .8:(/( <( .= .+*6*<1&> 12.:2.1& *6+&4& & 5(8/2:& 9(4&*1(+12> ;*1/(K1279(<102 J-9*&5:*<102L =7+(:1*; 12.-*0&:&A *6*04( @2> .( ?&.*; & <9=7&; 1( V5+*K6& .242.&02!N"I# <( .2 *'921= '( M=1'4&*1(+1&02; & *602'/&:1&02; 79(P210=

L D(3&+ E2'F(/- J[(1.*: 69(/L ,F 2'.-92.&*1&./&3'& 49/2K&A (98&/2'/=9( 1( -(-&9=A ('/&:(1 & -*.+2 <9=7*7 .:2/.'*7 9(/(!# 8N0.'(- =*,( '2+-2/."# ̀ /*0.'(- j(/*A1*@ B*G*/&)-(

<# m/&3-(+1( 3e./(]# W-(,N.1* 1(3.+0.9 ?./+&1 ,F -924&51*./ =7+*:(

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"C# _'.-92.&*1&5(; k S;./29<(;.'( )'*+(

;# `/*0.'-& G( 1*7* 2/.p.10. g+.'3(1A./LB+(-G(9 ?./+&1 ,F <&1(;&31* 9()3+(1021& 6+*'*:&>&5:&021& 6+*'*:& & -9*5*9.'2 /9('2

L O2A*+e n-(01./9 ?.H ,F .:*02 &<202 02 9(5:&* -92 629+&1.'*7 2'.-92.&*1&./&3'*7 '9=7( , &)(*&.-92<A ./=<&9(* = Y23=B ;(/2;(/&'=> M&+*5*M&0= J!CN!# <*'/*9 M&+*5*M.'&8 1(='(LA 421&* r2/2(

J& ./=<&9(* 7(LA -9&./=-( /2*5*M.'*; -*'92/= -*.+2 02<1*7 -92<(:(10( !NHH# 7*<&12A *< !N""# , 69*01( -92<(:(10( = *':&9= /2*5*M.'*7 '9=7(> *60(:+0=02 *79*;12 '10&72A &5=52/1* )&9*'<=8*;A '(* (98&/2'/( 1&02 &;(* -92<51(102A &<202 02 -921*.&* :296(+1*> &+& -9(:&* ;('2/2 *<7+&1(;*+( J<( 6& .2 &5:2+*LA 1(7+()(:( *<1*. M*9;2 & M=1'4&02A =;9* !N"G#!# 6.-.(12, N/# ! ,F NH ; -=/( CH ;> 8lDH ;A CM/(, ,2A/*3-&C Pb.*G*e3'& F/(,R9&G7.A.1 ![!<#A *602'(/ *< <9:2/(> -*'9&:21 )&1<9*;A *79*;(1A !D ./=6*:( , .:('& *< <9=7*7<9:2/(A '(-&/2+ , =925(1A <:( '9=K1( *6+&'( , <:( :(+0'( .( '=-*+*;A -*1(:+0(102 *6+&'(>79(<(4&0(A &57*92* =*3& b*:2 r*<&12 !N""#k"I# '(<( 02 -*32*B"# 6.-.(12, N/# " ,F G(7/).1 ![":# J/9& 7*<&12 -*.+2 1027*:2 .;9/&L9 2 =*/1(F29 '/(0?(G.+(A = (9;&9(1*;,62/*1=> -*)/* 02 -9:& &57*92*A 12 -*1(:+0( 1& 02<(1 -9*5*9 , 7+(:12 '(9('/29&./&'2 u/(0129*:*7 9(<(B

!# -*'92/ J&5:2<21 &5 +&1&02L"# .'=+-/*9(+12 M*9;2 J-9*7(=<&02:.'2LI# ;2/(;*9M*5( *6+&'(<# b*B+(1( 3( A&,10('*,9 =*/1(29 ![!<#]# b/(13e*/,(-*/3'( 3-(1&K(9 !["!#G# m2\( =2/A.'9 ![!;#L!S#

L M2@* M./&1@ ,F 9(<&* .( ?&.*; J=/&4(0L ,F ./('+* h *97(1.'& *6+&4&> &;&/(4&0( 6&*+*)'&8!# ̀ *+0*B/&7/.A1& '*,B+.'39 6(@'(2 '*A E&N.'( ,F '*. '9*:"# f@/(A( &G+*>N. ###9 ?/(-&3+(7(<# W-(,N.1& *N0.'(- `/&1G g+N/.F- 6(/-.1, f#V#S#?#, \&<120.'( *-29( ,F &5:2<21( &5 u/(0129(

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, 1(./(1(' & 12./(1(' 12*-+(./&4&5;( *< !N!E# <* !NI!# 7*<# a*.+2 Z2 \/&0+,( 1&)/( :&)2 1&02 6&+* '(* -92 J02<1* :92;2 <* !NDG# (98&/2'/=9( Z2 \/&0+,( 02 6&+( 5(6*9(:+021(L#, 79=-( 1(./(+( = X(0<21= J[*+(1<&0(L, I M(52B, !N!E#,!N"H# , M*9;(/&:1( J.'*1421/9&.(1( 1( [*+(1<&0=L, !N"!#,!N"G# , .(592:(102 & )&92102, !N"G#,!NI!# , /9(1.M*9;(4&0( & 9(.-(<, *31&7(10.9 H+(1*7&9 2-&K(04, =. W-&0+ 02 T8*+(1<.'& =;2/1&3'& -*'92/T> *.1*:(1 02 = X(0<21= !N!E# *'* &./*&;21*73(.*-&.( '*0& &5+(5& <* !NI"A /* 02 -9:( .(9(<10( .+&'(9./:( & (98&/2'/=92 , 6*02102 2'./29&029( &21/29&029(, !N!E# 7*<&12> 7(1 =2&3N2/@ & 82A =92P=0= F*+ 2 10.@*7*0 7&+& '*A E(0A.1( , 1(7+()(:(102(98&/2'/=92 .92<./:&;( .+&'(9./:(> -*<*:& *< -+*3&4(> 72*;2/9&0.'2 *+*:12 /9('2 1( -9*5*9.'&;

*'1&;(, 79=-= .= 3&1&+& (98&/2'/&> .+&'(9&> :(0(9&> <&5(0129&> M&+;(<K&02> -2.1&4&> .( 92+(/&:1* 3&./&; -29.*1(+1&; -9*;21(;( J='=-1* &8 02 !HL, '+0=312 +&31*./& Z2 \/&0+,(B!# b.* 7(1 =2&GN2/@ PbF.* 7(1 =*.3N2/@R9 3+&'(/ & (/F&-.'-("# `&- T*1A/&0(1 P`&.- T*1A/&(1R9 3+&'(/ LA* ![";# , 1&'(< -92/29(1* 12 =/&32> =.(;+021&'>:25( .( u21;2'29.*; & =/&4(0 ]9(1'( X*0<( R(0/(<# 6./&- O&-7.+A P6.//&- O&.-7.+AR9 (/F&-.'-( & A&G(01./ L*A ![![#, .-*92<12 +&31*./&B 3+&'(/ D(1 A./ E.' J-29&M291( +&31*./> =/&32 1( !# & "#L & 7(0(/D(1-*1@./+* J2./2/&'( ;(.( = -*'92/=L, 2-&K(0&4 , .&1/25( <:2 ./9=02B

!# 12*-+(/*1.'( M&+*5*M&0( u21;2'29.("# ]9(1' X*0< R(0/ & [21<9&' a2/9=. Y29+(72t ;(/2;(/&3'& '*.;&3'& -*92<('B, 8*9&5*1/(+( J+&1&0( .&+2L ,F '92/(102 s2;+02 *'* \=14(, .=132:& 59(4&> 7&6(102 :(5<=8(t K=/( ,F .&:(A -+(:( ,F 62+(A 49:21( ,F 491(K=/( , 7&6(102 :(5<=8( J:29/&'(+(LA -+(:( , 1262.'& .:*< J8*9&5*1/(+(LA 49:21( , .-*0 K=/2 &

-+(:2!# '=6&5(;"# 8*+(1<.'& '(+:&1&5(; , =1&:295(+&./&3'& &<2(+&B &./&1(> *602'/&:1*./> 92<> 02<1*./(:1*./A *:&

-9&14&-& 12 .8:(/(0= .2 /9(<&4&*1(+&./&3'& :2@ *6&+=0= 9(5=;2:(102; .*4&0(+12 92(+1*./&

J*<6(4=02 .2 &1<&:&<=(+&./&3'&> 5( 9(3=1 *602'/&:1* , =1&:295(+&./&3'*7 -*7+2<( 1( .:2/I# ;(/2;(/&3'& 12*-+(/*1&5(; J12*-+(./&4&5(;L n.1,.'./3( , = <2+&;( &5 !N!G#,!Q#>n.1,.'./3 J'10&7( Tb*:& +&' .:2/(TA '10&7( Ta9&14&-& ;(/2;(/&3'2 -+(./&31*./&TL -*./(:+0(*.1*:2 12*-+(./&31*7 &59(5( &5:*<2@& 5('+0=3'2 &5 .+*K212 T'*.;*+*)'2T M&+*5*M&02B 92<='4&0('*+*9&./&3'2 .'(+2 1( *.1*:12 6*02 JK=/*> +(:*> 49:21*L & 92<='4&0( -9(:(4( -9*./&9(10(2+2;21(/( '*;-*5&4&02 1( *9/*7*1(+1*./A /:*9(4 -*0;( C1.*B+(3-&K&G(,CD# ?./+(@. & O(0-, ?./+(@.4 -9*-*94&02A ;*@ 72*;2/9&02A .*4&*,'=+/=91& '9&/&4&5(;A, O(0-4 T-929&0.'(T M(5( , =-*51(+& .2 -92'* Y29+(72(> W(5;=/*:&8 &5<(10( &5 !N!H#,!!# &

-*02<&1(31&8 -=/*:(10( = S;29&'=, &;2 TZ2 \/&0+T -92=52/* 02 *< Y29+(72( J'*0& 02 <(+02 9(59(P&:(* s2;+29*:2 /2*9&0.'2

-*./(:'2 * ./&+=LA (M*9&5(; 79=-2B CW7/F( B/&/*A. 0. H*7.'9 37/F( H*7.'( 0. 3-&+C

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"N# Z2 \/&0+

L B*0(, C1.*B+(3-&K&G(,C4, =:2* 7( 02 n.1,.'./3A *51(3(:( /2*9&0= 72*;2/9&0.'*,'*1./9='/&:1*7 .&./2;( M*9;& '*0= *<!N!D# 9(5:&0( T*1A/&0(1 P.3.0 Cj.*B+(3-&K&G(, 2 3+&'(/3-72CL> ( 5(/&; & D(1 A./ E.'9D(1-*1@./+*9 7(1 =2&GN2/@A 2+2;21/& 12*-+(./&4&./&3'2 2./2/&'2B 2+2;(1/(912 -9*-*94&02>*9/*7*1(+1( 72*;2/9&0(> 2+2;21/(91& '*+*9&/ J& (89*;(/&31*./L> 92< J5('*1*;291*./>

'*1./9='/&:1*./> M=1'4&*1(+1*./ , &.'+0=321( &1<&:&<=(+1( .(;*:*+0(LA

, T*1A/&0(1 02 .:*0= /2*9&0= 3&./2> M=1'4&*1(+12 (-./9('4&02 .8:(/(* '(* +*7&31& 1(./(:(''=6&5;(> '*0& '(* ./9='/=9(+1& -9&14&- /926( -9*)&9&/& 1( .:( -*<9=30( K&:*/(A *:* 02 ;*7=@2*./:(9&/&> -92 .:27(> '9*5 (98&/2'/=9= & <&5(01A J(98&/2'/=9( Z2 \/&0+,( ,F -9(: =7(* h 9(:(1 5&<A(=/*1*;1( & 62.-92'*91( -*:9)&1( ,F &.'+0=3=02 *-2'=A -*+(51( /(3'( 3&./ '=6=.> '*;-*5&4&02*< 6*021&8 J/9& *.1*:12 6*02> 8*9&5*1/(+( & :29/&'(+(> ( :(1 Z=&56=97 =:*<& & <&0(7*1(+=L

L J e(G( C=. W-&0+L(C P![!X#L"^#R4 12;( 6() -=1* 9(<*:( &5 *6+(./& (98&/2'/=92L O*N./- 7(1h- M*e !# J (/F# A.+* L '2\( M.0A.9 B/.A@/(p. l-/.F-( P![!S#R , :(1^/ [*M '*0& 02 -*51(:(* R(0/*:(

<2+( -9& -*.2/& S;29&4&> *./:(9&* 02 -9:= '=@= = .'+(<= .( -9&14&-&;( 12*-+(./&4&5;( , 3&./&'=6=.&> <&1(;&31* <2'*;-*1*:(1&> 8*9&5*1/(+1*./> 1(<./92)1&42> <12:1( .*6( '9*5 <:( .-9(/(,F =/&4(0 R(0/(, !N!E# -9:& 69*0 +&./( C=. W-&0+C, !N!C# <9=7& 69*0 &5+(5& CJ ,(1&e.3- =. W-&0+L(C = C /(3('(A .(<9K& .:2 .=)/&1.'2 -*./(:'212*-+(./&4&5;(

L 6./&- O&-7.+A!# c/7.1* B+(7( 3-*+&K(9 ![!:# , .(./(:+021( *< <9:21&8 9(:1&8 +2/:& & -+*3(> *6*021(*.1*:1&; 6*0(;(A .( 491&; *':&9*;A M*9;( T+&72)/=+(TA -92<./(:+0( -9:= 12<:*.;&.+21=/9*<&;215&*1(+1= -9*02'4&0= 2./2/&'2 12*-+(./&4&5;(A 9(<& 1(;2)/(0 9=31* *< 12*69(P21*7

-9&9*<1*7 <9:2/("# ![!:#L"^# &G/(p20. 1&G '*,(A( 1(,.)-(0( J<23&0( ./*+&4(> 629+&1.'( ./*+&4(> &5+*7

0=:2+&91&42L )/* '=+;&1&9( !["^# -*-(+1&, 2/.p.10., /(A1. 3*N. A/ M(/-*@(A -9&./=-( Z2\/&0+,= !N!N#

L Z# Z# `# 82A , 7+(:1& -9*02'/(1/ = R*/29<(;=> 1&'(<( 1&02 6&* -*/-=1* = *:*; -*'92/=>3&1*:1&'> =96(1&./(> *<6&0( '*+*9&./&3'= &1/29:214&0= :(1 Z=&56=97( & *1& .2 .:(P(0=B!# U(N/&'( `2/,./.&A9 B/*0.'(- ![![# , p=< 02 /2K&* .(;*.:*01*./& J*<6&* <( -*/-&)2;(1&M2./ !N!C#L> *:* 02 02<&1& 1027*: -9*02'(/ = *':&9&;( 12*-+(./&31&8 -9&14&-( J&-('12=62<+0&:LA 625*91(;21/(+1(> -9*3&)@21( (98&/2'/=9(

"# f@/(A. 2 1&G2 ,F 625*91(;21/(+1(> -9*3&)@21( (98&/2'/=9(> /9& *.1*:12 6*02L JJ e(G( C=. W-&0+L(C P!["!#L";#R JM23(/ 02 9(<&* 51(' 5( Z2 \/&0+> ( -*.+2 5+ E&3&K'&L, VV M(5( -9*/&32 = 51('= .=.92/( _+ X&.&4'*7 & :(1 Z=&56=97(> _+ X&.&4'&B CB/&H( * A7('7(A/(-(C, !N"!# 3+(1./:* -*'92/( .2 9(<&'(+1* ;210(A *<+(52 D(1 A./ E.'9 D(1-*1@./+*9 7(1h- M*e982A & A/2@&i T*1A/&0(1 .2 :9(@( = a(9&5 J7<2 02 6*9(:&* <* !N!D#LA 7(1 =2&GN2/@ 56*7 /*7(

-*3&102 <( -9*-(7&9( -*'92/ = &1*./9(1./:= 029 ;= .2 3&1&+* <( .2 *:(0 = [*+(1<&0& 7(.& )/* -*/:9P=02 1027*:= ;2P=1(9*<1= *9021/(4&0= & 925=+/&9( -9&./=-(102; j.,K( M(13( O&F-./(9/.>&3./( W&1.(3-.> & /23'*@ (/F&-.'-.9 @/(e&H(/( & 3+&'(/( 5+ E&3&K'*@A & M*+(p(1&1(m*/1.+&023( 7(1 53-./.1(

, 1( R&8/29*: -*5&:> :(1 Z=&56=97 6*9(:& -9:& -=/ = b2;(3'*0 !N"H#,"!#A '9(/'* :92;2 -9*:*<& = :(0;(9.'*; Y(=8(=.,= 1( -*5&: r9*-&0=.(> :9)2@& .1(K1& =/&4(0 1( ./=<21/2 &

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"N# Z2 \/&0+

-9*M2.*92 J& .(;*7 r9*-&0=.(LA :(1 Z=&56=97 12 =.-2:( <( -*./(12 -9*M2.*9 1( Y(=8(=.,=> -(*.1&:( .:*0 (/2+02 5( .+&'(9./:*> :(0(9./:*> (98&/2'/=9=> 9&:(+./:* & .'(1<(+A :(1 Z=&56=97 =/&32& 1( Y9*029( ,F ./*+&4(

, 5+ E&3&K'& <*+(5& -*.+2 6+&.'2 .(9(<102 .( m(G&,&/*, T(+0.7&H., /2 =1*.& =/&4(0

.=-92;(/&5;(A -*< =/&4(02; 1027*:&8 T-9*=1.'&8 '*;-*5&4&0(T JT1*:( =;2/1*./T &5;2P=.+&'(9./:( & (98&/2'/=92L> ;210( .2 ./:(9(+()/:* :(1 Z=&56=97( ,F 12*-+(./&4&5(; h

.=-92;(/&5(;, ;(P(9.'& ('/&:&5(; , +2:* *9021/&.(1 J:25( .( Z*69*:&@2;A '*1/('/ <:2 +2:2 *9021/(4&02J2:9*-.'2 & 9=.'2LL> 1&'(<( 1&02 6&* =.-2)(1

L 7(1 =2&GN2/@ & m*/1.+&0. 7(1 53-./.1 -9*02'/=0=!# j&G F&B*-.-&H'&F (/F&-.'-*13'&F '*,B*G&K&0( 2 7&A2 A&3*1*,.-/&03'&F K/-.>( L('3*1*,.-/&0(> (.&;2/9&31* (9/&'=+&.(1( 79=-( 9(:(1.'&8 2+2;21(/( ,F .+&31*<2'*1./9='/&:&5;= JS0521;(1L> '*0& .= :&.&+& = -9*./*9=> = +&./= .2 /(< -*0(:&+( & (-./9('/1* ,/&-*79(M.'( <23&0( 6(0'(B CB/&H( * A7( '7(A/(-(C

, !N""# ;210( .2 M*9;(/ & .+*7 1(.+*:12 ./9(12 3(.*-&.( Z2 \/&0+, !["<# 7(1 =2&GN2/@ & 7(1 53-./.1 &5+(K= = a(9&5= = 7(+29&0& R*5216297 & -*./&K= :2+&'&=.-28A 0(.1* 02 <( 02 (98&/2'/*1.'& 12*-+(./&4&5(; &.'9&./(+&.(1, -*92< -*;21=/&8 ('3*1*,.-/&0( &5+*K&+& .= &"# `/*0.'(- '2\. G( O*G.1N./@(9 3-2A&02 .1-./&0./( l1&7./G&-.-3'. A7*/(1. & B/*0.'(-'2\. 2,.-1&'(, .=6+&;(4&0(B :(1 Z=&56=97*: 3+(1(' C!S -(H('( B+(3-&H1. (/F&-.'-2/.CA &51*.& .=)/&1=12*-+(./&312 /2*9&02 (98&/2'/=92 , T*97(1.'& 2+2;21/(9&5(;T ,F '*1./9='4&0( /926( <( .2 9(5:&0(&5 M=1'4&02> :*+=;21(> -*:9)&12> :92;21(> -9*./*9(> .:2/+*./&> 6*02> ;(/29&0(+( =5 *97(1.'*

-9&+(7*P(:(102 <(/*./&;(A *1 -+2<&9( & 5( 2'*1*;&31*./> 12;*1=;21/(+1*./> <&1(;&5(;>(1/&<2'*9(/&:1*./ J-* 6*0&L & (1/&'=6&5(; J-* *6+&'=L , *+&321 T421/9&M=7(+1&;T'*;-*5&4&*1&; -9&14&-*;

, = &./* :92;2 6./&- O&-7.+A4<# '2\( n/.A./Ln/.A./9 l-/.F- P!["]#R> 12;( ='+(-(10( = (;6&0(1/ , -*/-=1* '*;-(/&6&+(1.( :(1 Z=&56=97*:&; -*./(:'(;(A */:*921( /9(1.M*9;(6&+1( *.1*:(> <&1(;&31( 9(:(1.'(&79(### , (98&/2'/=9( *.+*6*P21( 1*.2@&8 5&<*:( & *79(1&3210( '*02 1(;2@= -9*6&021& */:*9&A

-(12+1& -*;&31& 5&<*:&A 12 -*./*0& =7(*A 1( '9(0= 1&5( '=@( &5 UVU :#> 625 ='+(-(10(A = -9*02'/*:(10= =32./:*:(+( & 7*.-*P( :+(.1&4(A */2+*/:*92102 !Q /(3('( :(1 Z=&56=97*:2 -+(./&312 (98&/2'/=92 J*60(:+0212 -* 5(:9)2/'= '=@2LB (1/&'=6&./&3'( J-* *6+&'=L>(1/&<2'*9(/&:1( J-* ./&+=L> -*.2<=02B 2+2;21/(91*./> 2'*1*;&31*./> M=1'4&*1(+1*./>

<&1(;&31*./]# W-(,N.1( G@/(A( 2 M(@2 J-*92P2102 .( ?*1<9&0(1*;LL O&-7.+A & M23(/4 t .1-./&0./ u 1(,.)-(0 ;(+2 -9*./*9&02 5( &G+*>N2 !["<# 2 ?./+&12 Pu N./+&13'( 3-*+&K(R

L Z# Z# `# 82A<# m(e. A. l1&.9 !["]#L";# ,F =1&)/21* -9& 6*;6(9<*:(10= R*/29<(;(

L JJJ e(G( C=. W-&0+L(C P![";#L<!#R , *62+2K21( 02 K2./*'&; .='*6*; & 9(.'*+*; &5;2P=?*1<9&0(1( & :(1 Z=&56=97(, O&-7.+A :&)2 12;( 7*/*:* 1&'(':2 :252 .( -*'92/*;> (+& .2 1027*:* ./:(9(+()/:* &-('

9(5:&0(+* = .+&31*; -9(:4=

!EH



"N# Z2 \/&0+

, T*1A/&0(1 1(-=)/( -*'92/ 56*7 -9&14&-&0(+1*7 .='*6( .( 7(1 =2&GN2/@*, '*0& = .:*02.+&'(9./:* =:*<& 9(<& <&1(;&5&9(10( <&0(7*1(+=, -*< =/&4(02; 5+ E&3&K'*@9 7(1 =2&GN2/@ .2 *'92@2 .:2 :&)2 .*4&0(+1&; & /281*+*)'&;(.-2'/&;( M*9;2A *1 .;(/9( <( ./(/=. *602'/( *<92P=02 <* '*02 ;292 02 ;*7=@2 1027*:*

-*<:*P2102 -*< (-./9('/1= '*142-4&0=

L 6./&- O&-7.+A;# n*e./*7( '2\( 3( @(/(>*,, 5(/* -9&8:(/( T'*1M2'4&0.'2 2+2;21/2 '=+/=92T , 1(;2)/(0 & .+&31*> ( (;6&021/ -*.:2@=024&+02:&;( :&)27 92<( , *602<&10(:(10= <20./:( (98&/2'/=92 & .+&'(9./:(, *:& ./(:*:& .(<9K(1& .= = ;(1&M2./= J2.20 :(1 Z=&56=97( & :(1 _./2921(L Cm( '*+.'-&71*0'*13-/2'K&0&C P!["]#R & = B/*0.'-2 '(e.( Eh8N.- P!["[# A*7/).1R 2 W-/(GN2/2> = '*; .2 1(*9/*7*1(+1& -9*./*9 (;-+&4&9( <&0(7*1(+1( 2+2;21/(9&./&3'( '*;-*5&4&0( J1(;2)/(0 02> 1(.=-9*//*;2> .(.:&; *6&3(1L, :(1 Z=56=97*: '(M2 X^p62/B <:2 :2+&'2 -9*./*9&02 5( 7*./2 & 1&5 -*;*@1&8 , .;2)/212 .= =+0=.'= UWVVV :#> ;=9(+&> -+&/'& 5&<1& 92+02M& = <&0(7*1(+&/2/=A ./*+&42 *< M=91&9(> *79(<2 &9='*8:(/& *< 42:&> 9(.:2/( *< 7*+&8 .&0(+&4( =;2/1=/&8 &5;2P= <:2 ;2/(+12 42:& '*02 .=

*62)212 * -+(M*1A *:(':&; <&5(01*; 8/2* 02 &5(5:(/& .&;=+/(1*> &./*:92;21* <20./:*.+&'(9./:( & (98&/2'/=92A *:(0 '(M2 02 -*.+2<102 6&/1* <2+* 12*-+(./&312 (98&/2'/=92A 3(' 1& :(1Z=&56=97*:( 7+(3-&-( '2\( 2 T.2A*129 !["[# 12 =<*:*+0(:( 1& 02<1*0 *< !Q -*./(:'&1027*:*7 ;(1&M2./( &5 !N"D#, &<2(+ .2 :9(@( .:*0&; '*921&;( = (-./9('/1*; .+&'(9./:=, =;2/1&4& TZ2 \/&0+,(T .:2 :&)2 -*/-(<(0= -*< =/&4(0 Cj*7. 8N0.'-&71*3-&C> 1(-=)/(0=@&12*-+(./&3'= :295&0= &<2(+( .&1/252 =;2/1*./&A -929(1*; .;9@= :(1 Z=&56=97( J= DC# 7*<&1&L>7(.& .2 & -*'92/(3'( .1(7( -*'92/(A .(;* 0*) ?*1<9&0(1 *./(02 :29(1 = .:*0&; -9&14&-&;(J*9/*7*1(+1*./ & *.1*:12 6*02LA & R&/:2+< ;210( <&5(01 .2<(+( & 1(.+*12 .:*0&8 ./*+&4( '*9&./2@&.('9&:+0212 -*:9)&12> 12 56*7 =<*61*./& '*+&'* 56*7 &5<9K+0&:*./&, -*'92/ 02 .1(K1* =/&4(* 1( ;*<291& -*'92/A /* :&<&;* *< T&3( -( <* 1()&8 .(:92;21&8(98&/2'(/( J1( -9# g0G.1,(1L, <=8*:1& & &1/2+2'/=(+1& -*/214&0(+ , *62+2K&* UU :#A 49/2K&> 02<1( <* <:2 579(<2 & 12'*+&'*21/29&029(> (+& :2+&'& =/&4(0

!E!



IH# a=9&5(;

<^# `2/&G(,

, `2/&G(, , =;2/1&3'& -9(:(4> !N!C#,IH#, *.1&:(3&B g,.A. 8G.1e(1 L W*1&0. PW(2@1&./ , -.2=<*1&;R & n# 5# q(1./. L E. m*/N&G0., &5:*9& -=9&5;(B 1.*B+(-*1&G(,9 '2N&G(, & 1.*B+(3-&K&G(,9 -.F1&H'( A*3-&@12\( =(98&/2'/=9& J= K&:*/= =*-)/2L, 4&+0 -=9&5;(B CB/*H&3-&-&C =;2/1&3'= J-( & *-)2 4&:&+&5(4&0.'=L -9*6+2;(/&'= = .:*0*042+*:&/*./&A -=9&5(; 02 =.;2921 -9*/&: &./*9&4&5;(> (+& & -9*/&: T<2M*9;(4&0(T = ;*<291*0=;2/1*./& J1( -9# '(.1&0( M(5( '=6&5;(LA -=9&./& .= 5(*'=-+021& /9(K2102; .(:9)21*7J-9&9*<1*7> ;28(1&3'*7 & =;2/1&3'*7L *6+&'(, = (98&/2'/=9&B 12 -9*-(7&9( .2 3&./* '*1./9='/&:1& *6+&'> :2@ .2 579(<( ;*<2+=02 1( :(0(9.'&1(3&1A 5&<1* -+(/1* , 7+(:1* .92<./:* &59(K(:(10(A -*5&:( .2 1( 2./2/&'= ;()&1(, CB*3+. '2N&G,(C9 ,(1&e.3- B2/&G,(9 ![!:#, CB2/&G(,C9 .3.09 !["^# P*60(:+021 = 3(.*-&.= TX^_.-9&/ b*=:2(=TL ,F -9:( -*/-=1(M*9;=+(4&0( -=9&./&3'2 2./2/&'2

, CEh53B/&- j*27.(2C J'10&K2:1( & =;2/1&3'( 92:&0(L ,F 3(.*-&. -*'921=/ !N"H#A -*'92/(3&E. m*/N&G0.9 8G.1e(1 & B.31&' `*+ =./,. JX2 i*96&502 & a*+ Z29;2 .= 7( 5(02<1* =92P&:(+&<* !N"G#LA &5()+* 02 <* !N"G# 7*<&12 "C 69*02:(> = '*0&;( .2 9(5;(/9(0= -&/(10( *<=;2/1&3'*7> (+& & )&927 '=+/=91*7 51(3(0(> .( ./(1*:&)/( -=9&./&3'&8 -*./(:'&, Cm( B/(7*0 (/F&-.'-2/&C PCD./3 21. (/KF&-.K-2/.CR9 !["<# ,F ;(1&M2./ ?*<2912A 56&9'(3+(1('( J'(.1&02 '10&7(L X2 i*96&502( = 92:&0& !N"H#,"I#A = V <2+= '10&72 T_./2/&'( & (98&/2'/=9(&1K21029(T *60()10(:( '*142-4&0.'= <:*./9='*./ -92;( '*0*0 @2 .2 '92&9(/& 1027*:& 9(<*:&B .

02<12 ./9(12 7*:*9& * 12*-8*<1*./& 5(<*:*+0210( M=1'4&*1(+1&8 5(8/2:( 2;-&9&0.'&> ( .( <9=72* -*9&:= 5( =-*/926*; (-./9('/1&8 2+2;21(/( <( 6& .2 <2+*:(+* 1( 3=+(A V <2* , C53-.-&'( &(/F&-.'-2/( &1>.10./(C> VV <2* , C8H& '*0. 1. 7&A.C J&1<=./9&0.'& <&5(01> 69*<*:&> (:&*1&>(=/*;*6&+&L> VVV <2* , Cg/F&-.'-2/(9 H&3-( '/.(K&0( A2F(C J-*25&0( '+(.&312 (98&/2'/=92LA

.=)/&1( '10&72 02 = .+2<2@2;B 1*:* <*6( 02 -*32+*> .( .:*0&; .*4&0(+1&;> 2'*1*;.'&; &/281&3'&; =.+*:&;(> )/* *< (98&/2'/=92 5(8/2:( *<7*:(9(0=@& *<1*.

!E"



I!# ]=1'4&*1(+&5(;

<!# U21'K&*1(+&G(,

, U21'K&*1(+&G(, ,F ./(9 '*+&'* & 79(P2:&1(9./:*> ( '(* -*0(; :25=02 .2 &.'+0=3&:* 5(;*<291= (98&/2'/=9=A 829*0.'& -29&*< ;*<2912B M=1'4&*1(+&5(; & '*1./9='/&:&5(;A T*6+&' -9(/&M=1'4&0=TA -92/8*<1&4&B D&*+.L+.L=&' lF m*/. & O(0- P -92-*9=3&:(* (98&/2'/&;( W&+2,+2,Z&'('(* *6(:251= +2'/&9=L, 02<(1 *< 7+(:1&8 -9*6+2;( (98&/2'/=92 02 *A1*3 e*/,. & e21'K&0.A = 1(0)&92; .;&.+= -9&14&-M=1'4&*1(+1*./& -*<9(5=;2:( *./:(92102 9(5+&3&/&8 M=1'4&*1(+1&8 5(8/2:(A *:& 5(8/2:& ;*7=

6&/& 9(4&*1(+12 & &9(4&*1(+12 -9&9*<2> ( 12'& *< 1&:*( 1( '*0&;( .2 &.'(5=0= .= .+2<2@&B!# */@(1&G(K&0( 212-/()10.@ B/*3-*/1*@ 3'+*B( G@/(A. ,F *./:(9&:(102 T-9*79(;.'&8T5(8/2:(> /0# *;*7=@(:(102 12.;2/(1*7 *<:&0(10( *1&8 T/281*+*)'&8T -9*42.( '*0& .='(9('/29&./&31& 5( <(/= 1(;21="# '*13-/2'K&0( & ,(-./&0(+& ,F *./:(9&:(102 .'+*-*:( '*0& .= +*7&31& .( =-*/9261*7 &+&2./2/.'*7 ./(1*:&)/(<# *N+&'*7(10. ,F *./:(92102 M*9;2 5(.1*:(12 1( 9(4&*1(+1*./&> &1/=&4&0&> M=1'4&0& &+& 12'*;

<9=7*; -9&14&-= = *':&9= 42+*:&/*7 (98&/2'/*1.'*7 '*142-/(]# */@(1&G(K&0( /(A( ,F -+(1&9(102> -9&-92;12 ;292> 92(+&5(4&0(> ###

, e21'K&*1(+&G(, 0. &1-.@/(+1& A.* /(G+&H&-&F -.*/&0( (/F&-.'-2/.4t n&1'.+ ,F &<2(+ = (98&/2'/=9& ;*K2 .(;* *1<( 6&/& &.-=1021 = -*/-=1*./&> ('* 02<1(79(P2:&1( '('* = 42+&1&> /('* & = .:*0&; <2+*:&;(> & .( <=8*:1*7 & .( M&5&3'*7 ./(1*:&)/(*<7*:(9( .:*0*0 .:9.&t f.,B./ ,F =;2/1*./ -9&51(02 .(;* 02<1*7 7*.-*<(9(B -*/926=t E(N/23- ,F (98&/2'/*1.'( M*9;( ;*9( 6&/& -*<92P21( M=1'4&0&t W(+&7.1 ,F M*9;( -9(/& M=1'4&0=t D(@1./ ,F '9(0102 /(31* -*&;(102 & &.-=10(:(102 .:982 <* 1(0;(1027 <2/(+0(

t 7(1 A. D.+A. ,F *6+&' & '*1./9='4&0( .= *<9(5 2+2;21/(912 +*7&'2 , *-9(:<(1*./& -*./*0(10(t ?./+(@. ,F <*@& <* &./&12 = (98&/2'/=9& , -9&*9&/2/( = -*7+2<= .:98*:&/*./&> ;(/29&0(+( &&5:*P210(t 6/*B&023 ,F K2+&;* (98&/2'/=9= 3&0( .2 M=1'4&0( 0(.1* -92-*51(02 '9*5 1021= M*9;=t E. m*/N&G0. ,F M=1'4&*1(+1( .(<9K&1( 9(4&*1(+1*7 ;&)+0210(t E*3 ,F ;*<291& <=8 5(8/2:( *< -92<;2/( -92 .:27( -9('/&31*./, M=1'4&*1(+&5(; .2 0(:+0( & '(* A*@,(-3'& CB/(7(KC = ;*<291*0 (98&/2'/=9&> -9& 32;= .2

-*0(; M=1'4&02 =.'* .:*<& 1( 37/F*7&-*3-> <*' .2 .=602'/&:1& (.-2'/& (98&/2'/*1.'*7 -9*02'/*:(10( 127&9(0=A *:(0 :&. M=1'4&*1(+&5;( -9(/& <2)(:(10( "H,/&8 & IH,/&8 7*<&1(>V1/291(4&*1(+1& ./&+> ( 1(9*3&/* 02 72+@/&G*7(1 ;^L-&F @*A&1( '(<( .2 &.-*+0(:( ./292*/&-1*)@=>M*9;(+&5;*;> ./29&+1*)@=> 625&59(K(01*)@=

, * /*;2> E2&3 T(,e*/A ,F TM=1'4&*1(+&5(;> 2./2/.'* :29*:(102 1( '*02 .2 (98&/2'/ ;*7(**.+*1&/& = :92;21= &5;2P= <:( .:2/.'( 9(/(> .(<( *< &./&8 +0=<& '*0& .= 6&+2 1027*:2 1(0.+(:1&02 -9&./(+&42 ./(:+021 = 1(0;(10= 9='= -*< 51(' -&/(10(T

, M=1'4&*1(+&5(; JT214&'+*-2<&0(TL, -9(:&+(B!# *N+&' ,*/( A( &G/(>(7( e21'K&02, 1( -9# ./=6*:& & 1*.(3& 0(.1* :&<+0&:& & .-*+0( & &51=/9( & 9(5+&3&/& *< 5&<1&8 -*:9)&1( &

-9279(<1&8 5&<*:(> *1& .= /& '*0& 1*.2 ;2P=.-9(/12 /(:(1&42 & '9*:, 9(5+&3&/& 2+2;21/& 579(<2 /926( <( 1(P= -9&'+(<(1 (98&/2'/*1.'& &59(5"# *A2).7+0.10. -.F1&H'&, e*/,(,(

!EI



I!# ]=1'4&*1(+&5(;

, T&1/2+2'/=(+1& M=1'4&*1(+&./&T ,F X2 i*96&502> !N"H#B T(;29&3'& &1K21029& .:*0&; -9*9(3=1&;(=695(@2 &5=;&9(102 1()2 (98&/2'/=92TA T+2-& *6+&4&> 1(0+2-)& *6+&4& , '*4'(> '=-(> '=7+(> *6+&4(>

-&9(;&<(> ###T, TM=1'4&*1(+&./&T ,F = -9(:*; .;&.+= 923& , 79(P2:&1(9&> /97*:4& *< 5(1(/(> &1K21029& ,F

02M/&1&0(> -9('/&31&0( &+& -9&'+(<1&0( (98&/2'/=9( ,F .-*+01& *6+&' 02 *<92P21 79(P2:&1.'&;

-9*-&.&;(A *6+(7(102 =5*94&;( &5 '(/(+*7(> 5&< 5(:2.2A 9(.-*92< =1=/9()10&8 5&<*:(J-9*./*9&0(L , 2'.-29/& 5( 921/(6&+1*./A .(*69(@(01* 02579* , )/*-29&42 .-24&0(+&./( 5( <&5(+&42A*6+&' '9*:( , ./9=310(4& 5( '+&;(/&5(4&0=### lF F(*3

!ED



I"# Y(=8(=. & W(+/29 r9*-&0=.

<"# ?(2F(23 & D(+-./ 6/*B&023

L D(+-./ 6/*B&023 PY(+-./ 6/*B&23R9 !::<# L ![S[# ,F (98&/2'/*1.'& *-=.B = GH 7*<&1( 9(<(12;( -9*;21( = &59(5=A (-.*+=/1( 592+*./ *< -*32/'(A -9*02'/(1/> :(.-&/(3> -92<(:(3A ./=<&9(*= Y29+&1= & ?&1821=A /9& 7*<&12 9(<&* '*< Y2921.( J*< -9*02'/( <* &5:*P210(LA !N!H# -*0(:&*.2 = .:2/= (98&/2'/=92 , *.1&:( .:*0 6&9*A !N!N#,"C# , Y(=8(=. -92<(:(10(A <&92'/*9A !N"C#,ID# ,

-9('.( = Y29+&1=A !NID# , X*1<*1> _17+2.'(A !NIE#,G"#> \SZ> -215&*1&.(1 1( [(9:(9<=J.(9(<1&4&> ;+(<& (98&/2'/2 J5(02<1&4( ;+(<&8 (98&/2'(/( , qSfLLA !NG"#,QN# , -215&*129> (+&9(<& = -9&:(/1*0 -9('.&

, *N/(G*7(10. & /(A A* *31&7(10( ?(2F(23L( ![![#4, 9*P21 !CCI# = Y29+&1=> = -*9*<&4& 6*7(/2 79(<&/2+0.'2 /9(<&4&02, (98&/2'/=9= =3&* = ?&1821= & Y29+&1=, !NHE# <*+(5& = ?./.13*7 (-.+0. P'(* & T&3 & E. m*/N&G0.R, !N!H# */-*3&102 .(;*./(+1& 9(< '(* &1<=./9&0.'& <&5(0129 & (98&/2'/(

!# U(N/&'( U(@239 g+e.+A 1( E(01&9 ![!!# 3( gA*+e*, T(0./*, J& <(1(. *9&7&1(+1(A -9:& -=/./('+21( *-1( J5&< 5(:2.(L & /* &.-92< ./=6*:( , S;29&'(14& .= /* 9(<&+&> (+& 12 32./*LA 9(59(<(Y2921.*:2 .&1/('.2 J](69&'( /=96&1( S_rL> (+& */:*921&0( 2./2/&'(A =7+*:& & *:<2 =3:9)@=0='*;-*5&4&0=> (+& .(<( .= *< ./('+(A :&5=2+1* 02 -*<9K(1( -*<2+( 1( 1*.&:2 & 1*)212 <2+*:2J;(/29&0(+ , T1*)21*T 02 =:2' ./('+*> & <9=7*> ./('+212 -*:9)&12 .= 6+(7* -92-=)/212 = -*+02>&.-92< 9(:1& 1*.&:&8 ./=6(4(> -( .2 ./&32 =/&.(' +26<210( , -*+&./9='/=9(+1*./LA '*;-+2'.> &1(32>*6=8:(/( Q 579(<(A .:2 02 ./9*7* *9/*7*1(+1* *97(1&5*:(1* J./=6*:& *< *-2'2> *./(+* , *<

62/*1( J/(:(1&4(L> 32+&31& 1*.(3&> ./('+212 *-12L, ![!<# ,F *60(:+0=02 H+(1(' * &1<=./9&0.'&; *602'/&;( = 7*<&)10('= w29'6=1<,(B Cf1(H(0&1A23-/&03'&F *N0.'(-( G( *N+&'*7(10. 3-&+(CA r9*-&0=. -+2<&9( 5( ./:(9(102 1*:*7 ./&+(.:9.&.8*<1*./& & '*1./9='/&:1*./&A .;(/9( <( 02 B*A2A(/1*3- -.F1&H'. & 2,.-1&H'. e*/,.

1(07.\. A*3-&@12\. , (1(+&/&3'( .(51(10( /926( <( <*-9&12.= .&1/25& *97(1.'*7 *6+&'(, &./2 7*<&12B A&G(01 A&G.+ +*'*,*-&7. & .1-./&0./( 7(@*1( 3B(7(\&F '*+("# T*A.+ e(N/&'.9 Y./'N21A &G+*>N( 2 m.+129 ![!]#9 3( g# T(0./*, ,F '*;-+2'. '*0&*6=8:(/(> ('.&0(+1=> =-9(:1= 579(<=> */:*921* <:*9&)/2 & ;()&1.'= 8(+=A =-9(:1* 02 ;(+&

-(:&+0*1 5( ;*/*92A =-9(:1( 579(<( , '*;6&1(4&0( *5&<(1&8 ;(.&:1&8 <2+*:( & ./('+212 *-12A.-*+0( , ;*1=;21/(+&5*:(1 &57+2<> T'*1./9='/&:&./&3'2T ./('+212 ./2-21&)12 '=+2A &5 <:*9&)/(;*<291&0& &57+2< = ./('+=A 8(+( , M*9;( &5:2<21( &5 Y2921.*:&8> (+& ;*<291&0(A 5(*6+021( 5*1(./9282 , *602<&1021*./> <2+=02 '(* -9*M&+ J/9& 9(5+&3&/( <2+(B (<;&1&./9(4&0(> 7(9(K(> M(69&3'& <2*A9(5+&3&/& ;(/29&0(+& = .'+(<= .( M=1'4&0*; & .-*15*9&;(L, !N!D#,!C# r9*-&0=. 02 6&* = 9(/=, !N!G# 7(1 A. D.+A. 1(-=)/( ;2./* <&92'/*9( O;2/1&3'2 )'*+2 = W(0;(9=> ( '(* 02<1*7 *<

;*7=@&8 1(.+2<1&'( -*;&102 r9*-&0=.(, !N!N# <*+(5& <* *602<&10(:(10( S'(<2;&02 +&'*:1&8 =;2/1*./& & O;2/1&3'2 )'*+2 = 02<&1./:21= =./(1*:= 3&0& <&92'/*9 -*./(02 r9*-&0=.A /* 02 6&* ?(2F(23, '(* <&92'/*9 Y(=8(=.,(> r9*-&0=. -9*:*<& -29&*< !N!N#,"G# = W(0;(9= & !N"G#,"C# = Z2.(=# *< !N!C# 6&* 02 ('/&:(1 3+(1 79=-( Cg/N.&-3/(- e2/ m213-C & Cj*7.,N./@/2BB.CA 1(CJG+*>N& 1.B*G1(-&F (/F&-.'(-(C9 ![![# = *97(1&5(4&0& TS962&/.9(/ M=9 i=1./T &51*.&> '(*B/.A@*7*/ &G+*>N&9 B/72 3'&K2 B/*@/(,( ?(2F(23L(

, A.+(-1*3- ![![#L<]#4 ,F /9& 51(3(01( <2+( &5;2P= <:( 9(/(B f8&4(7* /9&6=12> !N""#A Y(=8(=.>Z2.(=> !N"Q#A q*/(+1* -*5*9&)/2> !N"E#<# WB*,.1&' ,(/-*73'&, >/-7(,(9 D(0,(/9 !["!# ,F 1(+*;+021(> 2'.-92.&:1( -&9(;&<(+1(

;(.( *< 62/*1(A *:(0 T'9&./(+T &+=./9=02 .1(K1* -9&.=/1* <:*0./:* = r9*-&0=.*:*0 +&31*./&> '*02

!EG



I"# Y(=8(=. & W(+/29 r9*-&0=.

3&1& '('* T*602'/&:&5(;T> /('* & T2'.-92.&*1&5(;TA +&3& 1( C'(-.A/2 N2A2\1*3-&C * '*0*0r9*-&0=. 7*:*9& 1( &5+*K6& TS962&/.9(/ M=9 i=1./T]# m2\( f*,./e.+A9 ?./+&19 ![""#9 3( g# T(0./*, ,F ./(;621( '=@( , 69:1(9( 1( *.1*:& *<+*;+021*7 '(;21(A & *:* <2+* 02> = .=)/&1& 2'.-92.&*1&./&3'*;# m*1'2/31& /(A G( G@/(A2 +&3-( CcF&K(@* -/&N21.C9 ![""# 3( g# T(0./*, J1&02 <*6&*

-9:= 1(79(<=LA (.&;2/9&31* '*;-*1*:(1( '=+( *< ./('+( & 7:*KP(A -9&;2/(1 02 =/&4(0 Z2 \/&0+,( J625*91(;21/(+1&> (-./9('/1& *6+&4&LS# 8B)-&13'* B*G*/&)-.9 Z.1(9 !["<#9 3( g# T(0./*, ,F 92'*1./9='4&0(X# T.p21(/*A1( g'(A.,&0( G( e&+*G*e&029 5/+([email protected] !["]#9 3( g# T(0./*, ,F8*9&5*1/(+12 & (.&;2/9&312 ;(.2A -9&;2/1* 02 .1(K1* -9&.=./:* T*602'/&:&./&3'*7T <=8( = *:*;*/:*921*; -+(1= J*:(0 *602'(/ 02 T-92<&79(T 5( Y(=8(=. = Z2.(= J*602'(/LL:# ] '2\. G( B/.A(7(H( ?(2F(23L(9 =.3(29 ![";#L"S# ,F .(79(P212 .= *< 62/*1.'&8 6+*'*:(A1&5 '=6&31&8 M*9;&A T.(@(./(T =1=/9()10( -*<2+( , &59(5 &1/292.*:(10( r9*-&0=.( 5(./(1<(9<&5(4&0=[# m*,B+.'3 ?(2F(23L(9 =.3(29 ![";#L"S# J= <=8= 1*:2 *602'/&:1*./&A &5(5:(+( .215(4&0=L,F (9/&'=+(4&0( :2+&'&8 ;(.( '*02 .2 -92.24(0= *./:(921( 02 -9&;21*; 9(5+&3&/&8 6*0( & -+&/'*;

;*<2+(4&0*; M(.(<2A 12;( 7+(:1= M(.(<= , &79( -9*:&<1&8 <2+*:( & ;*./*:( , 12;*7=@2 -*7+2<*; *6=8:(/&/& 42+= 579(<=A *6=8:(/(B )'*+= J=3&*1&42 h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b*-(+1* B*G*/&)-. 5/7&1( `&3'(-*/(9 ?./+&1 , -9*02'(/> !N"E# ,F `&3'(-*/ 02 6&* 02<(1 *<:*<2@&8 5(7*:*91&'( +2:*7 T-*+&/&3'*7 -*5*9&)/(T> '*02 02 /926(+* <( &;(> &51(< .:27(>2<='(/&:1= =+*7=A ='+0=3&:(+* 02 1(32+( ?20298*+0<*:2 6&*;28(1&'2> 92/*9&'= & &59(K(012;2/*<2 2'.-92.&*1&./&3'*7 /2(/9( J5( /(':* -*5*9&)/2 6&* 02 &<2(+(1 7+=;(4 , ('9*6(/(L> /9(K&+*

02 .-2'/('=+(191*./ <( 6& 6&+* =62<+0&:* J-9*./*91& & .:2/+*.1& 2M2'/&LA /* r9*-&0=. -*'=)(:( <(2+27(1/1&; & M+2'.&6&+1&; 92)2102; -*<9K& =+/9( , /281&4&5&9(1&; -9*02'/*; '*0& *;*7=@(:(9(5+&3&/2 J5(-9(:*> .:2 /9& ;*7=@2L T'+(.&312T <&.-*5&4&02 7+2<(+&)/( & -*5*91&42 J7+2<(*4& .=

-*/-=1* *6=8:(@21& = /*; IZ -9*./*9= &792L> '(* & =-*/926= 9(51*:9.12 .421.'2 *-92;2 J42+*5<(102 .2 ;*K2 -*/-=1* -9*;21&/& 9*/&9(102; -*5*91&42 & <2+( *9'2./9( 5( !CHz , /* .2 ;*K2=92<&/& 3(' & /*'*; -92<./(:2 & /(0 T-92-(<T 1( 7+2<(*42 /29( &8 <( =32./:=0= = ('4&0&A(=<&/*9&0=;B -9*5&91( '=/&0(> '9*5 '*0= .2 :&<2+( 92)2/'(./( '*1./9='4&0( 0(0*+&'*7 '9*:(> 1(<2+-.(./*; *.1*:*;A r9*-&0=. 02 &;(* '*1/('/2 .( -*5*9&)1&; .:2/*;A -*5*91&4( .2 ;*7+( &5(/:*9&/& 4&'+*9(;*; 5( -9&'(5&:(102 M&+;(> '(* <*-=12 -92<./(:&> ( &51(< .92<&)102 (9212 6&+2

.= ('9*6(/.'2 .-9(:2!!# j(3.+0. b*./-.19 =.3(29 ![":# ,F *-2/ &59(5 T*602'/&:&5;(TA r9*-&0=. &./9(K=02;*7=@1*./& ;(.*:12 -92M(69&'*:(12 79(<102> '('* = <&5(01= .(;2 -92M(69&'(4&02> /('* & =

-*7+2<= ;28(1&5*:(12 79(<102 JM*9;(+1( +&12(91( '*;-*5&4&0(> -*7*<1( 5( ;*1/(K= -*;*@=/2)'*7 /9(1.-*9/(LA *:2 /2;2 r9*-&0=. 9(59(P=02 .:2 <* !NI!# 1( .:*0&; B/*0.'-&,(3-(,N.1&F G@/(A(A 1('*1 *./(:'2 1( Y(=8(=.,= !N"E# r9*-&0=. .2 .:2 :&)2 N(7&B/*N+.,(-&'*, 3-(1*7( & 5(+(K2 5( -*6*+0)(102 ./(;621*7 ./(1<(9<( & -92/:(9(102./(;621*7 6+*'( = 62.'+(.1& .&./2; 5(02<1&3'*7 ./(1*:(10(t f(7*A G( G(B*)+0(7(10.9 =.3(29 !["X# ,F -92M(69&'*:(1> ;*1/(K1& .'+*- , -9:& -=/ = .:2/=A(1(+&5( .-9(/1*./&> 9(5;('( 579(<(> *.=13(10(t j(3.+0. '/(0 m(/+3/2.

t j(3.+0. G( e(N/&'2 W&,.13 ,F M=1'4&*1(+&5(;, !NIH# ,F &5+*K6( w29'6=1<,( = a(9&5=

!EQ



I"# Y(=8(=. & W(+/29 r9*-&0=.

, !NID# r9*-&0=. =-=@=02 (-2+ r262+.=> -9(:<(0=@& ;*<291= (98&/2'/=9= '(* 12;(3'=> (+&*<;(8 -*/*; 2;&79&9(

, A.+(-1*3- B*3+. ![<]#4 ,F !NDC# , i*1792. fVS?,( = Y29+&1=, 51@+.3'(9 ![<]#L<X# ,F 9(<& .( T('37.+*, U/(0., L 3-(,N.1. G@/(A.9 +*'(+.9 )'*+3'. &

A/2@. G@/(A.9 ###, g,./&'(4 -(9/129./:* .( ?/*0./*,9 ![<X#L]!# ,F -*./(02 -9*M2.*9 1( [(9:(9<= !NIE# J<2'(1(98&/2'/*1.'*7 *<.2'( 1( [(9:(9<= -*5:(* 7( = \SZ> 7<2 *1 -*/&.'=02 =/&4(0 X^_4*+2 <2.Y2(=` S9/.!"# D+(3-&-( '2\(9 E&1'*+19 ![<:# ,F ;*<21&5(; = Y(=8(=. ./&+=A -*./(02 =5*9 & &5:*9 5(9(<2'(* ;*<2+ 5( 7.\& N/*0 7&+( = 1(92<1*; -29&*<=!<# O(A1&H'* 1(3.+0.9 j02 m.13&1@-*19 ![]!#L]<# ,F .+&31* '(* 9(<*:& 1( /= /2;= =

b2;(3'*0A :9+* 12.-92/1* =96(1&./&3'* 92)2102 J1( -*'921=/*; /2921=L, -(9/129./:* CbF. (/KF&-.K-3 K*+(N*/(-&7.C PbgcR9 ![];#!]# l1&7./G&-.-3'* 1(3.+0.9 M(/7(/A9 ![][#L;^# ,F -9*02'(/ 02 -*<9(5=;2:(* -9*:+(321021*:&8 79(P2:&1( '9*5 -*./*02@= ./9='/=9=A .:=<( , <2+( ;*<2912 =;2/1*./& J!NG"# ,

-215&*1&.(1 1( [(9:(9<=L!;# f@/(A( `gjLgT9 j02 Z*/'9 ![;:# ,F T.-+0*)/21&T 491& *'/(7*1 *< QH .-9(/*:(!S# n*B1&@ K.1-(/ ?*3-*1(9 ![;<# ,F :2+&'& '*;-+2'.> -9&+&31* ./2)1021B 7+(:1& ;*/&: 02

-*.+*:1( 579(<( J*'/(7*1L *< DH .-9(/*:(!X# ̀ /*0.'(- l1&7./G&-.-3'*@ @/(A( 2 ?(@A(A29 ![;X# ,F :2*;( M*9;(+&./&3'* <2+*t `/*0.'-( G( (,./&H'2 (,N(3(A2 2 g-&1&9 ![;X#t W&1(@*@( 2 ?(+-&,*/29 ![;X#, r9*-&0=.B 1&02 =.-2:(* '9*5 49/2K <( &59(<& &<20= ,F /&;.'& 9(<A '(9('/29 -9*02'/( ;210( .(

-(9/129&;(, ?(029B -9:& -(9/129 1( '=+/=91&; 579(<(;(A -* *<:(0(10= *< r9*-&0=.( :&)2 1&02 6&* 51(3(0(1(98&/2'/(, =>.1'3 *.=P=02 r9*-&0=.( 56*7 /*7( )/* .2 =:2'> +*;2@& .2 &5;2P= -9&14&-( & -9(7;(/&5;(>*-92<2+0&:(* 5( *:* <9=7*A -+*< B/(@,(-&H1&F '*,B/*,&3( .= )(9*+&'& 925=+/(/&A ZK21'.'(K2 <( 02 r9*-&0=. ;*9(* <( -9&8:(/& *:2 '*;-9*;&.2> 029 02 &51(< .:27( :29*:(* = /&;.'&9(<> .(9(<10= & 92+(/&:1*./ &./&12

L ?(2F(239 ![![#L<<# ,F +&'*:1( )'*+( /9(0(+( !D 7*<&1(A -2<(7*)'( ;2/*<*+*7&0( , 92:*+=4&0(J<(1(. 9(<&;* -* 10*0LA r9*-&0=. 02 =:2*B -9=3(:(102 ;(/2;(/&'2> 6*0(> 92:*+=4&0( = <&5(01=1(;2)/(0( J./*+&4(L , *6+&4& & ./(1<(9< <(1()1027 &1<=./9&0.'*7 *6+&'*:(10(A :&)2 -=/( 02 ;210(*

-9(:(4> (+& =:2' *./(* -9& /9& 4&+0(B !# .:2/ =;2/1*./& &5:=@& &5 (1*1&;1*./&A *<(1*./ &./&1&A "#=;2/1&4& & 5(1(/+&02 , <( 9(<2 5(02<1* '(* = -9*)+*./& J?&'2+(1P2+*LA I# ./(+1& '*1/('/ .(

&1<=./9&0(+4&;( & ;21(<K29&;( J1(9=3&*4&;(LA = 51('= 69*0( IB D -29&*<( JW(0;(9> !N!N#,"G#AZ2.(=> !N"G#,"C#A ?(029> !N"C#,IH#A ?&.> !NIH#,II#LA I <&92'/*9(A I .2<&)/(A I 4&+0(

, *31&7(10.4, V M(5(> !N!N#,"G#> W(0;(9B 2'.-92.&*1&./&A !N"!# :(1 Z=&56=97 & Z2 \/&0+, Y(=8(=. 02 -+*< <=7*7*<&)10&8 1(./*010( <( .2 = b2;(3'*0 92M*9;&)2 *6='( = *6+(./&

-9&;21021&8 =;2/1*./& J-*7+2<(/& 9(1&02 )'*+2B w29'6=1<> ###L, *31*7(1( 0. Cn'*+( 2,.-1*3-& & G(1(-(C 7.+&'*@ 7*07*A3-7( 2 D(0,(/2 ![^S# > -*<=-9(:*; 7(1 A. D.+A.( J.+&'(9 &;-92.&*1&./(> <&5(0129 & (98&/2'/(L , Y(=8(=. 02 1(./(:+0(31027*:&8 &<20(A :(1 <2 W2+<2 02 -9&1=P21 <( *<2 !N!G#> '(<( '(* 02<1*7 *< 1(.+2<1&'(

-92<+(K2 6/*B&023( JW(0;(9 , :2+&'( '=/=91( /9(<&4&0(L

, /*'*; 9(/( /9(02 -*+2;&'( * -2<(7*)'*; ./(/=.= J92M*9;2L +&'*:1&8 & -9&;21021&8 =;2/1*./&A=-9(:1&' W2+&'*:*0:*<.'2 S'(<2;&02 +&'*:1&8 =;2/1*./& U/&K T('.1G.1 5(./=-( 7+2<&)/2 <(

!EE



I"# Y(=8(=. & W(+/29 r9*-&0=.

.2 3(' & =;2/1&3'2 5(1(/+&02 ;*9(0= )'*+*:(/& 1( S'(<2;&0&> <*' 6/*B&023 /2K& *97(1&5*:(10=*6='2 5( <&5(01292 & 5(1(/+&02 '9*5 9(<&*1&42A /(0 .='*6 9(592)21 02 !N!N# '*;-9*;&.*; ,=02<&102102; S'(<2;&02 & u'*+2 = 02<1= &1./&/=4&0= , ?(2F(23 J/( '*142-4&0.'( -*<:*021*.//9(0(@2 '9*5 42+* 1027*:* -*./*0(102L, r9*-&0=. 5( CJG+*>N2 1.B*G1(-&F (/F&-.'(-(C9 ![![# = *97(1&5(4&0& Cg/N.&-3/(- e2/

m213-C -&)2 B(,e+.- '*0& @2> -929(P21> -*./(/& -9*'+(;(4&0( Y(=8(=.,(A .=)/&1( /*7<*'=;21/( 02 C@/(A10( P;2/(M*9&3'2L '(-.A/(+. N2A2\1*3-&C , *602<&10(:(102 =;2/1*./& &5(1(/( = (98&/2'/=9& J-*5&:( =;2/1&'( <( *<6(42 .(+*1.'= =;2/1*./ & :9(/2 .2 5(1(/&;(> <(579(<2 *6*7(/2 ;()/*;> 625 *65&9( 1( /281&3'2 -*/2)'*@2L> -* =7+2<= 1( .92<102:2'*:125&<(9.'2 7&+<2A *<(/+2 & &;2 J'*02 02 r9*-&0=. -92<+*K&* <9K(:1*0 =-9(:&L , .92<102:2'*:1(;(.*1.'( +*K(B ?(2F2--. &+& ?(2F(23 , 923 ;*K2 6&/& & &1:295&0( *< [(=. 6(= l '=@( 5(79(P2102A . :92;21*; 02 &<20( .*4&0(+&./&3'2 '(/2<9(+2 -*/&.1=/(> -( & 12'&> = -*32/'= :(K1&>=;2/1&3'& -9&14&-&A 1*> .=)/&1.'& 51(3(0 Y(=8(=.,( 02 = /*;2 )/* 02> -*92< /*7( )/* 02 6&* :(K1()'*+( =;2/1*./&> <&5(01( & (98&/2'/=92> 6&* *97(1&5(4&0( '9*5 '*0= .= .2 -92+(;(+2 & ;210(+2;1*72 &<202 =;2/1*./& ;*<2912 2-*82A ./:(9(+(3'& &;-=+.& '*0& .= -*/2'+& &5 Y(=8(=.,( 6&+& .=&5:(192<1& & *./(:&+& .= 7*/*:* 12.(7+2<&: /9(7> -(> &5:2.1*> <2+=0= .:2 <* <(1(.

, ;(0./*9& l -9*M2.*9&A '(+M2 & )279/& l ./=<21/&A 9(<&*1&42 l =3&*1&42A .( ./=<21/&;( 9(<2=;2/1&4& J;(0./*9& *6+&'(L & 5(1(/+&02 J;(0./*9& 9(<&*1&4(L

, C=/>(71& ?(2F(23 2 D(0,(/2C9 ![![#L"]# ,F /2)'( 7*<&1( 5( b2;42A -9*./*9&02 625:2)/(3'*7 *.:2/+0210(> 7920(10(> 12<*./(/(' -9&6*9( & ;(/29&0(+(A '(1/&1( , 02<&1& <9=)/:21&

-9*./*9 ./=<21(/(, !N!N#,"!# = Y(=8(=.,= 02 .1(K(1 =/&4(0 .+&'(9( -9*&5()+&8 &5 2'.-92.&*1&./&3'*7 '9=7( P@/2B.CT*3-C & C`+(7& 0(F(HCRA 1(9*3&/* 02 :(K1( =+*7( 8(9&5;(/.'*7 -92<(:(3( & :(.-&/(3(Z*F(1.3( J-.1( J1(051(3(01&02 &;2 V M(52L9 )7(0K(/3'*@ 3+&'(/( & -.*/.-&H(/(A -*92< 1027(> /=

02 (,./&H'& 3+&'(/ E(0*1.+ U(01&1@./ J)/(;-(9.'( 9(<&*1&4(L & 7(0(/ 6./F(/A T(/'3, 9(<&*1&42 , =32102 &5 I <2+(B !# -9*=3(:(102 -9&9*<1&8 *6+&'( & ;(/29&0(+(A "# -9*=3(:(102./(9&8 ;(0./*9( & .8:(/(102 .+&'2A I# 49/(102 -* ;*<2+=, !N"H# 1( V/21*:= &1&4&0(/&:= <*+(52 83'(/ n+.,./9 `(2+ m+. & 6.*/@ T2F., V/21> -9&./(+&4( 02<1*7 -.2=<* , 92+&7&*51*7 T&./*310(3'*7T '=+/(> 1(./*0& <( -9&;21*;9(5+&3&/&8 *69(5*:1&8 .&./2;( /*'*; -9&-92;1*7 '=9.( J-9&02;1& '=9. h D 7*<&12 ,F 4&+0

-9&-92;1*7 '=9.( l .'9(@&:(102 ./=<&0(L ./=<21/2 *.-*.*6& 5( *.+*6(P(102 &1<&:&<=(+12'92(/&:1*./& & *4210&:(102 :+(./&/&8 .-*.*61*./&A .;(/9(* 02 <( 02 5( '92(/&:1*./ :2*;( :(K1*M&5&3'* & <=8*:1* 5<9(:+02 J( /* 02 *<9K(:(* :2K6(;( <&.(10( & *-=)/(10(A 4&+0 02 6&*=.;29(:(102 '( =1=/9(A V/21 -9*-(7&9( '=+/ *.(:92;210212 a29.&0.'2 :292> )/* 02 5(8/2:(+*(.'2/&5(;> -*:92;21& -*./> :272/(9&0(1./:*L, 9(< -*./(02 5(<*:*+0./:*> 5(6(:(A '9(010& 4&+0B -29M2'4&0(A r9*-&0=. &1.&./&9( 1( <9=)/:21*;

K&:*/=B D M2./&:(+(> -=)/(102 5;(02:(> 6*K&@1( 5(6(:(> ### -*< M21029&;( 5( 1027*: 9*P21<(1A12./()&4( 1*:4(B -( .2 9(<&*1&42 .-*9* 9(5:&0(0=> ( *1 02 8/2* <( *12 M&1(1.&9(0= )'*+=A '9(0 V7*<&12 Y(=8(=.,( 6&* 02 '(/(./9*M( J.(;* 7913(9.'( 9(<&*1&4( *-./(+(L, /*'*; 7*<&1( 9(./2 -*<:*021*./ &5;2P= V/21( & r9*-&0=.(> 56*7 V21*:2 *'921=/*./& T'(=1=/9(T, !N"!#,""# ,F 2.'(+&9( '9&5( = Y(=8(=.,=A <*+(5& D(3&+&0 m(1A&13'& J9=.'& .+&'(9> =3& ./=<21/2(1(+&/&3'*; 49/(10=> *<1*.= 6*0( & *6+&'(L> 1( &1&4&0(/&:= V/21(A *1 02 -9&./(+&4( 2;*/&:1* ,;&./&31*7 -9&./=-( =;2/1*./&A 1( <9=7*0 ./9(1&> = Y(=8(=. ./&K2 b.* 7(1 =2&GN2/@ J1&02

-*./(* -9*M2.*9L 1( -*5&: r9*-&0=.(A *1 5(./=-( 9(4&*1(+&./&3'= & (1/&&1<&:&<=(+&./&3'= Z2 \/&0+2./2/&'=A :(1 Z=&56=97 J<*-(<(* .2 ./=<21/&;(> (+& 7( r9*-&0=. 5(69(1&* & *1 1(-=)/( Y(=8(=., *.1&:( '*1'=921/.'= )'*+=L .2 K2./*'* *69=)(:( 1( 2'.-92.&*1&./&3'& <=8 -9&.=/(1 =

Y(=8(=.,= J1(-(* 02 & V/21( *.=P=0=@& 1027*:* ;*1()'* *<6(4&:(102 .:2/*:1*7 K&:*/(LA =695*

!EC



I"# Y(=8(=. & W(+/29 r9*-&0=.

1(-(<( 3(' & r9*-&0=.( 56*7 1027*:*7 .&1'92/&3'*7 &<2(+&5;( & 02<(1 *< /2;2+0( Y(=8(=.,( ,5(1/./:*> -*5&:(0=@& 1( .(:92;21( .92<./:(, = &./* :92;2 .1(K(1 02 & =/&4(0 5+ E&3&K'*@ J'*0& 6*9(:& /(< = b2;(3'*0 .-92;(0=@& 9=.'=&5+*K6=L , .=-92;(/&./&3'2 M*9;2> 1*:( /&-*79(M&0(> &1K21029.'( T*602'/&:1*./TA 1(9*3&/* =/&4(0'*1./9='/&:&5;( .1(K& -*.+2 &5+*K62 !N""# 7*<&12

, 02<(1 *< 1(0:(K1&0&8 =/&4(0( 1( -9*;21= '+&;2 = Y(=8(=.,= -*/&32 *< E. m*/N&G0.( &H(3*B&3( CEh53B/&- j*27.(2C> 029 -*./(02 *3&7+2<1( .=-29&*91*./ '*142-/( C,()&1. G(3-(1*7(10.C 1(A '*1K.B-*, C'(-.A/(+. N2A2\1*3-&C , 1*:* :92;2 /9(K& T*602'/&:12

-92<;2/2 '*0& .+=K2 .-24&M&31&0 .:9.&T, /('* r9*-&0=. ;210( &5:*91= 5(1(/.'= *97(1&5(4&0= -9*79(;(A !N"I#> -*:*<*; J &G+*>N.?(2F(23L( 2 D(0,(/2> *1 *60(:+0=02 /2'./ CJA.0( & *3-7(/.10. =/>(71*@ ?(2F(23L( 2D(0,(/2C> = '*; *69(5+(K2 <( 02 .:98( 5(1(/.'*7 )'*+*:(10(> =./:(9& *6='( 5( <&5(01;(.*:12 -9*&5:*<102A *1 -9*'+(;=02 C1*7* 0.A&13-7* 2,.-1*3-& & -.F1*+*@&0.C> /9(K2@&

-*<9)'= &1<=./9&0.'&8 -92<=52@(, 1(.=-9*/ *:*0 '*;-9*;&.1*0 *9021/(4&0&> &./=-( 79=-( *'* V/21(> '*0( 1(-=)/( Y(=8(=.A /*0'*142-4&0&> ;2P=/&;> -9*/&:& .2 & T*602'/&:&./&3'(T M9('4&0( *'* M(1.3( T(0./(

, ;2./* V/21( 5(=5&;( ,(p(/3'& 2,.-1&' E(3+* T*F*+0Lj(p J1( -*5&: r9*-&0=.(> <( :*<& -9&-92;1& /23(0 & 9(<&*1&4= ;2/(+( & *97(1&5(4&0= -9*./*9(L> -9&./(+&4( '*1./9='/&:&5;( &.=-92;(/&5;( J'(* & 0*) 02<(1 -9*M2.*9 S+629. , '*9&)@2102 ;(/29&0(+(LA -*< 1027*:&;:*P./:*;> = )'*+& 0(3( '*1./9='/&:&./&3'& 2+2;21/(9&5(;A *1 .2 = /* :92;2 1(<*-=10(:( Z2\/&0+,*:.'*; 2./2/&'*; & -*./'=6&./&3'*; 2./2/&'*; n+.,./(A /* 02 :92;2 '(<( .2 =:*<& &.(1,.29&M1( J625.29M1(L /&-*79(M&0( ?(0./( & n,&-(, *< !N"I# Y(=8(=.,*; <*;&1&9( T*602'/&:(1T -9&./=- (98&/2'/=9&A *1 .2 *7+2<( & =1(./*0(10&;( <( .2 ./:*9& ,*A.+ -&B3'. B/.e(N/&'*7(1. '2\.> ;&1&;(+12 4&9'=+(4&02 .(./(1<(9<1*; *-92;*; J2+2;21/& .= 9=31& -9*&5:*< Y(=8(=.,(A 925=+/&9(> '*1(31*>@/(A10(,( 2 =.3(2 , !N"Q# 7*<&12> ( .+=K&+& .= '(* ./(1*:& (98&/2'(/(L, !N"D# = W(0;(9= 1( +*'(+1&; &56*9&;( -*62P=02 1(K&*1(+&3-&H'( A.31&K(> '*0( =.'9(@=02M&1(1.&9(102 Y(=8(=.,=A 56*7 /*7( .2 Y(=8(=. -9&1=<1* .2+& = .*4&0(+ , <2;*'9(/.'& Z2.(=> .(:2@&1*; ./=<21(/( & 1(./(:1&'(A ;(10& 69*0 *./(02 = W(0;(9= *'* 8-( ?(/-1&1@( = TW&)*0)'*+& 5( (98&/2'/=9= & 5(1(/2T

, ?(2F(239 =.3(29 ![";#L<<#, = .2+&<6&> :2+&'( 02 6&+( -*;*@ 79(<*1(32+1&'( U/&K( M.3.(> '*0& *;*7=@(:( 79(<10=1(./(:1&8 & ./(;621&8 *602'(/( J./:(9( .2 -*./2-21* -92-*51(/+0&: Y(=8(=.,*: -9&./=- = '*;

02 1(7+(.(' 1( &5:*P210= *6+&'( &5 -9*&5:*<1*7 -*./=-'(> &5 5(8/2:( ;(/29&0(+( & M=1'4&02L, !N"Q# -*3&102 .1(K1( -9*&5:*<10( ?/*0./*7*@ 1(,.)-(0( *< .(:&021&8 32+&31&8 42:&J2'*1*;&3(1> -9('/&3(1> =<*6(1L> 5(/&; /'(1&1(> .:2/&+0'2> ;2/(+12 9*62> -*'=@./:(> .(592:(

Y(029*:( /&-*79(M&0( J2+&;&1&)2 :2+&'( .+*:(LA ,1*)-7* B/*0.'(-( ,*1-(>1&F '2\(, M=1<(;21/(+1( -9*;21( ,F ?(029 .2 *'92@2 .*4&*1(+1*;> 9(4&*1(+1*;A .:('* 02 ;*7(* 6&/& -9&;+021> (+& <( -+(/& J5( 9(5+&'= *< 9(1&0&8 9&7*9*51&8 -9&02;1&8 &.-&/(LA ?(029*:(92*97(1&5(4&0(B !# <9=)/:21& 4&+0A "# ./(1<(9<A I# ;(.*:1( -9*&5:*<10( J-*+&/&3'& 9(<&'(+&5(;?(029(L, !N"E# :*<2@2 ;2./* (98&/2'/*1.'2 .2'4&02 5(=5&;( u:(04(9(4 M(1.3 T(0./ JT6*+0)2:&'T ,&;(* 5(-(K21 9(< 1( '*1'=9.= 5( X&7= 1(9*<(L> '*0& <*:*<& 0*) 02<1*7 3+(1( 6(52+.'2 79=-2TSYfT , M(13( D&-7./(, -*32/'*; !N"C# 7*<&12 r9*-&0=. -*<1*.& *./(:'= 79(<*1(32+1&'= Z2.(=(> 5(;*9215(7+(P&:(102; 9(5+&'( & 1(./*0(102; <( .2 ./:*9& .&1/25( 9(51*9*<1&8 ./9=0(A .2; /*7(> ./=<21/&.:2 :&)2 /9(K2 1(=31* , 9(4&*1(+&./&3'= -2<(7*)'= *9021/(4&0= J-9:& -=/ 1(=31& 2+2;21/& =+(52 =

Y(=8(=. , (1(/&3'& .&/2;> <&0(79(;&> ###L> '*0= 5(./=-( T(0./> 1(.=-9*/ T.&1'92/&5;=T

!EN



I"# Y(=8(=. & W(+/29 r9*-&0=.

6/*B&023(9 T*F*+0Lj(p(9 ?/*0./(9 ### J.:& *1& .+2<2@& -9&;29 r9*-&0=.(> -*<1*.2 *./(:'2LA5(/* r9*-&0=. -92<+(K2 ?(029( 5( .:*7 1(.+2<1&'(, ?(029 =.;29(:( Y(=8(=.,*:* <2+*:(102 '( T.*4&0(+1*;T =;2./* '( T2./2/.'*;T J= -9:*;

-+(1= 02 02<1*./(:1*> .'+*-&:* & 02M/&1* -*'=@./:* *< )-29 -+*32 & 9(51& 5&<1& /(-2/&LA(;6&4&*51* 92*97(1&5=02 )'*+= = D .2'4&02B C@/(A&-.+03-7*C J&5 -*+2;&3'&8 9(5+*7( .2 12 5*:2

(98&/2'/=9( 127* 79(<&/2+0./:*L9 B/*B(@(1A(9 B/*&G7*A10( ,.-(+( & A/7.-(9 -.'3-&+A *:2 D.2'4&02 <*-=10212 .= /23(02:&;( '(* 1( -9#B &1<=./9&0.'( *97(1&5(4&0( & -.&8*+*7&0(> -9*9(3=1(:(102 9(.:2/2> <12:1*7 .:2/+(> /*-+*/1&8 7=6&/('(> ('=./&'2A -9*&5:*<& .2 :&)2 127*&'(< J?(029 .-(0( /2*9&0= & -9('.=A ?(029 -9&;( .:2 '*0& .2 -9&0(:2 J& 12/(+21/*:(12L> <*+(5& <*.='*6(LA = 9(< )'*+2 ='+0=321 02 & B+(1./ M&+N./G(0,./9 W-(, & A/2@&A ?(029 02 1(./*0(* <(.-923& <( Y(=8(=. -*./(12 *9=P2 +2:&8 -(9/&0( J'*;=1&./&3'&8L> (+& 9(5(-2/ = -*+&/&3'&;/95(:&4(;( &-(' 6&:( -9&1=P21 <( 1(-=./& ;2./* !NIH#, 1( ;2./* <&92'/*9( -*./(:+021 02 T&3 7(1 A./ O*. J.:('*7( '* ;= .2 .=-9*/./(:& */-=)/(A.(9(P=02 .( R*/216297*; J-*+&/&3(9 , :+(./LA -9(:& S98&/2'/*1.'& M('=+/2/L> '*0& <(+02 1(./*0& <(= =5(:92+*0 -*+&/&3'*0 '+&;& .(3=:( )'*+= J79(<.'2 :+(./& & <2.1&4( /9(K2 <( .2 5(/:*9& Y(=8(=.& 1027*:( M(.(<( 1(/'9&02 (9&02:.'&; '*.&; '9*:*;A /9(K2> &5;2P= *./(+*7 <( .2 02:920& &56(42

&5 )'*+2> 1( )/( ?&. 12 -9&./(02 & .(; 5(/:(9( )'*+=LA !NI"# = Z2.(= 1( &56*9&;( -*62P=021(K&*1(+&3-&H'( A.31&K(> '*0( *-2/ *6=./(:+0( M&1(1.&9(102 Y(=8(=.,(A *'* Q JNL ;2.24& ?&.

02 -*'=)(:(* <( = Y29+&1= J*./(4& Y(=8(=.,( -92.2+021& .= &5 Z2.(=( = .'+(<&)/( 1( -29&M29&0&Y29+&1(L *<9K& <2+(/1*./ Y(=8(=.,( '(* -9&:(/1*7 &1./&/=/(> 1( /(<( 7( '*1(31* ='&<(0= 1(4&./&A:&)2 *< !"GH ./=<21(/(A ;1*7& .= 2;&79&9(+& & -9*)&9&+& =32102 <(+02

!CH



II# X2 i*96&502

<<# E. m*/N&G0.

L E. m*/N&G0. PcF(/+.3L5A*2(/A Z.(11./.-i E. c*/N23&./R9 !::X# L ![S;# ,F TS98&/2'/=9( 02 51(+(3'( & <*69( '*;-*5&4&0( ;(.( 1( .:2/+*./&T, :(K1*B -=/*:(10(A =/&4(0&A -*:25&:(102

, !::X# L ![!S#4, 9*P21 !CCE# = X( u*,<2,]*1. JX( f8(=`,<2,]*1<.L J&1<=./9&0.'& 79(< = u:(04(9.'*0*61*:+021 1('*1 -*K(9( "H,/(' 7*<&1( -92 1027*:*7 9*P210(L = ):(04(9.'*; '(1/*1= b*0)(/2+Jb2=48(/2+L> -+(1&1.'& :21(4 c=9(> 12'*+&'* '; *< M9(14=.'2 79(1&42, -*92'+* -*9*<&42 ,F '(+:&1&./& &5 c=7*5(-(<12 ]9(14=.'2> &5627+& = u:(04(9.'= 56*7 :29.'&89(/*:(, X2 i*96&02 -*8(P(* =;2/1&3'= )'*+= = 9*<1*; 79(<=> 3&02 02 /2K&)/2 6&+* 1( -9&;21021&;=;2/1*./&;( JX2 i*96&02 02 =3&* 5( 79(:29( 3(.*:1&'(LA :(K1( +&31*./ ,F B/*e.3*/ n(/+Eh5B+(1-.1&0. , ;+(< 3*:2'> 2'. , ./=<21/ X^_4*+2 <2. Y2(=` S9/.> 1(./*0(* <( 5(.1=02

+*'(+1= )'*+= -9&;21021&8 =;2/1*./& & 79(<&/2+0./:(> -*<=3(:(0=@& P('2 <( &5:*<2 *91(;21/12-*.92<1* &5 -9&9*<12 *'*+&12 JX2 i*96&502 .2 ='+0=3&* = -*.+2<102 M(52 -*'92/( S9/. (1<f9(M/> <*' .2 )'*+*:(* = *:*0 )'*+&!# D&+( U(+.-9 ![^;# ,F -9:( '=@( J.( !C 7*<&1(L , +*'(+1& /9(<&4&*1(+1& ./&+ J:(9&0(4&0( ;(0=9L>'(;21 h <9:*> 1(/=9(+1( *91(;21/(4&0( JM+*9( & M(=1( /&8 '9(02:(L> =/&4(0 S9/. (1< f9(M/A '=@(

02 79(P21( 5( =-9(:1&'( )'*+2 J*6+&' '=@2 02 5(-9(:* :(9&0(4&0( 579(<( ;(0=9(> 79(P21&8 *<<9:2/( & '(;21( 1( -*<9=30= c=9(L, !NHE# *<+(5& 1( ./=<&0.'* -=/*:(102 = V/(+&0= J]&9214(> R(:21(> Y*+*10(> W29*1(> W2124&0(LA2 b*3'(1& 02 -*.2/&* '(/-2G&0(13'& ,(1(3-&/ 5,(> 7<2 .2 5(&1/292.*:(* 5( &<20= T'*;=12T'*0( @2 .2 '(.1&02 -9*:+(3&/& '9*5 1027*:( <2+(A * .(;*./(1= _;( X2 i*96&502 @2 '(.1&02 -&.(/&'(* * &1./&/=4&0& '*0( *./:(9=02 +0=<.'2 /2K102B /&)&1=> .(;*@=> (+& = &./* :92;2 & .:('*<12:1&

;2P=+0=<.'& '*1/('/A _;( .2 =925(+( '(* /9(01( .+&'( = 7+(:& X2 i*96&502(> '*0= @2 =:2'1(1*:*> 62.'*1(31* -=/( &1/29-92/&9(/&, -*/*; *<+(5& = Y=<&;-2)/=> -( = Y23 J1( -92-*9='= X^_-+(1/21&02(L 7<2 02 -9*:2* 5&;=A=-*51(* 02 Z*G.e( M*e,(1( J6&* 02 <*69* -9&;+021> (+& 02 *<6&* -*.(* '*0& ;= 02 -*1=P21> (/&;2 & c=721<./&+L , 1*> /* 1&02 *./(:&+* 12'*7 /9(7(A -*/*; -=/=02 = ?&1821> \/9(56=9> b(1.& &a(9&5A = a(9&5= 02 =-*51(* 1&5 (98&/2'(/( '*0& .2 6(:2 1*:&; ;(/29&0(+&;( & =*-)/2 1*:&;1(3&1*; ;&)+0210( = (98&/2'/=9&A 1( '9(/'*; -=/= = X&*1> !NHE# =-*51(02 b*1& 6(/1&0.( J/(<(*<6*01*./ X2 i*96&502( -92;( c=721<./&+,= -*./(02 0*) :2@(L> 3&0( 7&G&0( CJ1A23-/&03'*@@/(A(C> *./(:&+( .1(K(1 =/&.(' JX2 i*96&502 02 .&;-(/&.(* .*4&0(+&./&3'& =/*-&5(; , =/&4(0X^_-+(/21&02( & r(91&02(L '('* = .;&.+= (98&/2'/*1.'2 /&-*+*7&02> '(* & = .;&.+= .(51(10( *

-*:25(1*./& 1*:2 (98&/2'/=92 & <9=)/:21&8 M21*;21( J!NHE# 7*<&1( *51(3&+( 02 -92'92/1&4= =

K&:*/= X2 i*96&502(A /(<( 02 .92* r(91&02( & -*.2/&* '(9/=5&0(1.'& ;(1(./&9 _;( = q*.'(1&> )/* 02 -92.=<1* =/&4(+* 1( 1027*: 9(5:*0A = _;& 02 -9:& -=/ <*K&:2* T'*;=1=T , '*0( @2 ;='(.1&02 -*./(/& .*4&* , M&5&3'& ;*<2+ 1027*:&8 &1/29-92/(4&0( .*4&0(+ , =/*-&./&3'2 &<202L, !NHC# 5(-*)+0(:( .2 8*1*9(91* = a(9&5= '*< N/(\. `./.> 7<2 .2 =-*51(02 .( (9;&9(1&;,

62/*1*; & 1027*:&; .'=+-/*9(+1&; & '*1./9='/&:1&; .:*0./:&;(A /= -9*:*<& !D ;2.24&A 6*9(:(' = a(9&5= &.'*9&./&* 02 & 5( )&92 =-*51(:(102 .( /2*9&0*; (98&/2'/=92> -*.2@=0=@& 6&6+&*/2'2> -92<(:(10(> ;=5202A -9*)&9=02 .:*02 51(102 M9(14=.'2 '+(.&312 '=+/=92A 1( :2+&'*X^_-+(1/21&02*:* 125(<*:*+0./:*> X2 i*96&502 02 .8:(/&* <( 02 (9;&9(1&,62/*1 ;(/29&0(+

6=<=@1*./& J-9&+(7*<+0&:( ;*1*+&/1( -9&9*<(> /9(01*./ & 2'*1*;&31*./> ( -* a292= 0*) & .92<./:*5( 9(592)2102 <=7*7*<&)102 -9*/&:9231*./& '*1./9='/&:12 (=/21/&31*./& 7*/&'2 & 8=;(1&./&3'&8:92<1*./& '+(.&312 M*9;2L

"# ![^[# 7/(\( 3. 2 /*A1* ,.3-*A /= 79(<& A7. 7&+. 2 B&-*/.3'1*, ,(1&/2 J-+(1*:& .=:29*:(/1* 1(./(+& 0*) 1( -9*-=/*:(10= -* V/(+&0& & S=./9&0&LA -*92< /*7(> =9(<&* 02 & B/*0.'(- G(

!C!



II# X2 i*96&502

1*72 G@/(A2 l,.-1&H'. )'*+. *A (/,&/(1*@LN.-*1(> 1( '*; .2 -9&;2@=02 *-.2.&0('(9/=5&0(1.'&; ;(1(./&9*; & &<20(;( .*4&0(+ , =/*-&./( J/9& ./2-21(./* 9(.-*92P21( '9=7(=;2/1&3'&8 ./=<&0( '*0& &;(0= 5(.2612 :9/*:2> .;2)/21& *'* 421/9(+1*7> -&9(;&<(+1&; ./('+*;1(/'9&:21*7 -9*./*9(A .+*6*<1* &1/29-92/&9(102 ;(1(./&9.'&8 @2+&0( = _;&L, !N!H# )'*+( 7( )(+02 = b2;(3'= J( *1 .(; 02 8/2* = b2;(3'*0 <( -9*)&9& .:*0( 51(10( *

(9;&9(1*;,62/*1=L <( 6& 1(-9(:&* &5:()/(0 * 1*:*; 12;(3'*; *6=3(:(10= = *6+(./& -9&;210(1&8 =;2/1*./& J&5:2)/(0 02 -=6+&'*:(1 !N!"#A =-*51(02 .2 .( :*<2@&; =;2/1&4&;( <29<2=/.482 w29'6=<,(> 7<2 =-*51(02 & <*./&71=@( ;*<291*7 &1K21029./:(B 69*<*:2> (:&*12>(=/*;*6&+2> * 32;= @2 -&.(/&LA /= 12'* :92;2 -9*:*<& 2 ?./.13*7*, (-.+0.2 J'9*5 '*0& .=

-9*)+& r9*-&0=. & ?&. , =-*51(* &8 02LA -92'* W(5;=/*:&8 &5<(10( =-*51(02 .2 .( <2+*; 9(1*7R(0/(, !N!!# *6&+(5& Y(+'(1 & ?(+= S5&0=A =-*51(02 .2 .( :291('=+(91*; (98&/2'/=9*;>(98&/2'/=9*; ;(1(./&9( & /=9.'&8 <K(;&0( J*< /(<( .2 = 1027*:*; 9(<= *.2@( -9&7=)21 =/&4(0*/*;(1.'2 (98&/2'/=92 * 32;= /('*P2 -&)2LA -*.261* 69&K+0&:* ./=<&9( (1/&3'2 .-*;21&'2 =r93'*0 Ja(9/21*1 , T1(03&./&0( '92(4&0( +0=<.'2 ;&.+&TLA 1( '9(0= -=/(> *-2/ -9*+(5& V/(+&0=> &:(@( .2 = u*,<2,]*1. J<( 6& -92=52* ;2./* 1(./(:1&'( '*02 ;= 1=<& X^_-+(1/21&02 & /&8 G

7*<&1(> <* !N!Q# 6&@2 -92.=<12 5( *9021/(4&0= 1027*:2 6=<=@2 -(9&.'2 '(9&0292, !N!I# *.1&:( :+(./&/& 6&9* = u*,<2,]*1.=A 1(-=)/( &<202 X^_-+(/21&02( & R(0/(A -9*02'/=02 =(9;&9(1*;,62/*1=A */:(9( .(9(<10= .( &1K21029*; A. ?*(3L*, PA. ?*(3R

, B/*0.'-& ![!!#L!S#<# D&+( U(G/ L q(1*-9 ![!"# ,F T12*'+(.&31&T =/&4(0 Y2921.( & a292(> ;2.&/29(1.'( &1.-&9(4&0(]# m2\( q(1./.9 ![!"# ,F 5( 9*<&/2+02A 02<1*./(:1( M*9;(> 8*9&5*1/(+12 -9*5*9.'2 /9('2> 1(.-9(/= 62+& )/='*;# D&+( n7*N9 ![!S# L B/7( (/,&/(1*LN.-*13'( @/(p.7&1( P'2+,&1(K&0( 1027*:2 /(1.'(/&0./. , .&1/25( .:27( 1(=321*7 <* /(<LA 10= -9(/& & /2'./ = 3(.*-&.= TX^_.-9&/ b*=:2(=TA

-(+(<&0(1.'& <=8 J.&;2/9&31( *97(1&5(4&0( *.1*:2> .( =.'&; & )&9*'&; '9&+&;(L> (+& .= -9&;2/1& &=/&4(0& a292(> [*M;(1( & <9#A '+(.&31* -9*-*94&*1&.(102A -9*02'/( :2@ 1(7*:2)/(:( 1027*:1(3&1 ;&)+0210( * 79(P(1.'*0 :&+& J'*9&./& '+(.&312 -9*-*94&0.'2 .&./2;2 -9:& -=/> )/* .2 :&<& &

-* 9(.-*92<= -9*5*9( -* .&./2;= 5+(/1*7 -92.2'(L> '(* & * ./(;621*0 579(<& /*'*; '(.1&0&87*<&1( J/2;( '=@2 , -(+(/2A -9&.=/1( 02 & *<92P21( 29*/.'( 2:*'(4&0( 8(92;(> -( 02 5(/* *:(579(<( <*6&+( 1(5&: CD&++( b2/d2.CLS# W&3-., =*,L&1*9 ![!;# ,F *< CA*,23C u C&1*7(-&*1C> (.*4&9( 1( &79= = '*0*0 .2.+(7(102; 02<1('&8 2+2;21(/( <*6&0(0= 9(51*:9.12 ./9='/=92 J'(* &579(<10( '=@( '*02 .=./(1<(9<&5*:(12 -*-=/ <*;&1(LA .;&.(* *:*7 -9*02'/(B 3=:)& 5( 9(/1( 9(5(9(10(> *1 -9*02'/=02.&./2; -92M(69&'(4&02 5( 695= & 02<1*./(:1= ;*1/(K= .( ;*7=@1*)@= M+2'.&6&+1*7 (9(1K&9(10(

-9*./*9( J-92;( 1(8*P210= '*9&.1&'(LA .&./2; .2 .(./*0&> -92 .:27(> *< ./=6*:( & 8*9&5*1/(+1&8

-+*3( J*:2 &<202 @2 .2 <(+02 9(5:&0(/& *< !N""#LX# D&++.3 `&+*-&39 ![!;# ,F -*3&102 <( 9(5:&0( &<20= 79(<( 1( ./=6*:&;(

, ![!X#L"X#4, &('* 02 = 9*<1*; '9(0= 5(-*32* =.-2)1= '(9&029=> X2 i*96&502 /9(K& &5(5*: & *<+(5& = a(9&5 ,&1/2+2'/=(+1& 421/(9 2-*82, -* <*+(.'=> =-*51(02 .+&'(9( g,.A. 8G.1e(1( Pg,.A.. 8G.1e(1-R L W*1&0. PW(2@1&./ ,

-.2=<*1&;R .( '*0; 9(5:&0( /5:# CB2/&3-&H'2C .3-.-&'2

t E. m*/N&G0. PE. c*/N23&./R L B3.2A*1&, '*0& =-*/926+0(:( *< !N"H# 5( -*/-&.&:(102/2'./*:(> *< !N""# , (98&/2'/=92 & *< !N"C# , .+&'(A 1(./(* '*;6&1*:(102; B/.G&,.1(

,(0H&1*@ /*p.10( E.K*/N.3&./ & 923& CK*/N.(2C P@(7/(1RA =;2./* -*/-&.( -*12'(< '*9&./&

!C"



II# X2 i*96&502

3-&+&G*7(1 '/*'& @(7/(1( J'*96 lF '('* -9&@& ('9*-*+0= ,F *1 '(K2 T1( '*+21&;(TJ*<=)2:+021 S'9*-*+02;LL

, = -29&*<= !N!E#,""# X2 i*96&502 .2 &59(K(:(* '(* =-9(:1&' = M(69&4& *-2'2 & 79(P2:&1.'*7;(/29&0(+( J( &./*:92;21* &1/215&:1* -&.(* & .+&'(*L

, !N""# */:(9( 6&9* = -(9/129./:= .( 3&1*7K., `&./*, q.1./.*,> .( '*0&; .(9(P=02 .:2 <* -*32/'( <9=7*7 .:2/.'*7 9(/(A 1( T02.2102; .(+*1=T = a(9&5= !N""# *1& &5+(K= <:( 51(3(01( -9*02'/(B C'2\2 W&-/*(1C & CW(7/.,.1& @/(AC ,F '(* =.(:9)(:(102 .&./2;( Z*;,&1* & :&+2a&+*/&.:# m2\( W&-/*(1 Pc&-/*F(1R9 ![""# ,F -9*02'(/ 2'./92;1* 02M/&12> 02<1*./(:12 & 9(4&*1(+12

-92M(69&'*:(12 ./(;6212 79(<102 J1(./(:(' TZ*;,&1*T /2;2LA 1*.2@& .&./2; 3&12 6*31& 1*.&:&5&<*:& J'(.1&02 02 9(59(P21( :295&0( 1( T-&+*/&.&;(TLA &5:*9& 5( *:(0 -9*02'(/B !# ;27(9*1.'&*6+&4& .92<*52;+0(> /0# 793'( +*'(+1( (98&/2'/=9(A "# 9(<1&3'( '(M(1( = a(9&5= 7<2 02.:('*<12:1* *62<*:(* .( 12@('*;A = -92.2'=> -9:& -=/ 02 -9&;21021 <:*2/(K1& <12:1&

6*9(:(' J<*-=1021 .-(:(*1*; 1( 7(+29&0& & <23&0&; .*6(;( 1( '9*:= , <=-+2'.LA *6+&' ,'=/&0(./A 9(:(1 '9*:A &;2 , (+=5&0( 1( ;(9'= (=/*;*6&+(> /0# 1( ;*7=@1*./ ;(.*:12 -9*<='4&02

[# W-(,N.1& N+*' 3( +2'32G1&, 3-(1*7&,( 2 *'7&/2 CW(7/.,.1*@ @/(A(C9 `.3(' ,F'*;6&1*:(102 -9&:(/1&8 -9*./*9( & 5(0<1&3'&8 .(<9K(0( J=/&4(0 '(9/=5&0(1.'*7 ;(1(./&9( ,'*;6&1(4&0( 79(P2:&1.'*7 ./(;621*7 6+*'( & .*4&0(+&./&3'*7 '*+2'/&:1*7 ./(1*:(10(LA .:('&./(1 &;( <:*2/(K1& <12:1& 6*9(:(' & 6()/= /29(.= J5(-9(:* 02 '=@( \&/9*(1 6(5&31( 02<&1&4(*:2 579(<2LA &<20( 02 (1/&4&-(4&0( l1&-. AhM(N&-(-&*1 2 T(/3.+02!^# W(7/.,.1& @/(A G( -/& ,&+&*1( 3-(1*71&'(9 ![""# J5(;&)+021 '(* 2+&/&./&3'& '(-&/(+&./&3'&79(< =-9(:2 & '*1/9*+2 .( :9/1&; 79(<*:&;( 5( 9(<1&'2L ,F =/&4(0 , (;29&3'&8> 79(<*:& =9(./29=> \/(</'9*12 JTi9=1( 79(<(TL Y9=1( q(=/( JalD `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`+(1 D*(G*1 PD*&3&1R G( `(/&G9 ![";# ,F <(+0( -929(<( T\(:92;21*7 79(<(T , T*/:*921T

-+(1 J625 5(/:*921&8 6+*'*:(LA &59(5 /21<214&02 '( -*./&5(10= *.=13(1&8> 52+21&8 -*:9)&1( =79(<=> .;(10210( 7=./&1( = 421/9=> :2@2 -*'92/+0&:*./&> ### J(M*9&5(; X2 i*96&502(B Tr9(<./:*921 1( 695&1= 02 79(< ./:*921 5( =.-28TL!"# `(7&+0*1 Eh53B/&- j*27.(2 1( B(/&3'*0 &G+*>N& A.'*/(-&71&F 2,.-1*3-&9 ![";# ,F

-(:&+0*1 02 =./:(9&> ./(;621( 02<&1&4( JC,.G*1.-C L -&B W&-/*(1R '*0= X2 i*96&502 =-*91* 625=.-2)1* -*'=)(:( <( -+(.&9( 1( /9K&)/= '(* ./(1 = .'+*-= 579(<2 &+& 5(.261= '=@= 5( -92<79(P2A /(0 <2* 6&* 02 *-92;+021 /&-.'& J1( -9# T/*12/T J-*'=@./:* T/*12/TL , .'=- M*+'+*91&8>5(1(/.'&8 & &1<=./9&0.'&8 2+2;21(/(A /=;(321 02 '(* -9*/&: S9/ Z24*,(L 1(;2)/(02;>*9021/(+1&; /2-&.&;(> .+&'(;( & .'=+-/=9(;( -=9&./( & .+#A <9=7& <2* -(:&+0*1( -*.:2@21 02=96(1*; -+(1&9(10=, = -29&*<= !["^#L<^# =9(<&* 02 & "^L-(' B/*0.'(-( @/(p(13'&F 7&+( P37. 2 B2/&3-&H'*,A2F2R> *< '*0&8 02 !S &G7.A.1*A .:2 .= -9&+&31* :2+&'2 & = .:&; .= '*9&)@212 &1*:(/&:12:92<1*./& (9;&9(1*7,62/*1( J.'2+2/1& .&./2; .( ;(.&:1&; 6*31&; 5&<*:&;(> -92-=./&;(>

-*/25&;( -9*5*9(LA ;1*72 *< *:&8 :&+( 1(+&'=0= -9&14&-&;( T;25*12/(TA &59(K(01*./ *:&8 '=@(.2 =7+(:1*; 5(.1&:( 1( C; -(H('( 1*7. (/F&-.'-2/.C '*02 X2 i*96&502 M*9;=+&)2 !N"Q#

7*<&12 J(98&/2'/=9( -(9*69*<(LB!# B&+*-&3& J'*0& 7+(:1= ;(.= &5<&K= &51(< /+(L

!CI



II# X2 i*96&502

"# 3+*N*A1& B+(1 J*<:(0(102; ./=6*:( *< -9279(<1&8 5&<*:(LI# 3+*N*A1( e(3(A( J-*.+2<&4( .+*6*<1*7 -+(1(LD# F*/&G*1-(+1& B/*G*/& J<=7& 8*9&5*1/(+1& '+&51& -9*5*9LG# '/*71& 7/- J'*0&; .2 1(<*'1(P=02 <2* /+( '*0& -*'9&:( '=@(L!<# D&+( T*1G&9 6(/).9 !["X# J5( -(9 u/(0129L ,F -(+(<&0(1.'& '*142-/ -9*-*94&02 *.1*:2 J:&+(

?(+'*1/21/(> !GQH#L> (+& 1(.=-9*/ a(+(<&02:.'*0 421/9(+&5(4&0&> *:<2 02 '*9)@21 T421/9&M=7(+1&T -9&14&- J-29&M29&0.'( 9(.-9)21*./ <*K&:+0(0(L = *97(1&5(4&0& -9*./*9(A *:<2 02> '*1(31*> 92)21 -9*6+2; '*0&; .2 6(:&* & X*. , .-(0(102 72*;2/9&5*:(1*7 T12*'+(.&31*7T *6+&'( .(12M*9;(+1*)@= &5 /9(<&4&02 TS9/. (1< f9(M/T J'('* -*;&9&/& -9&:(/1& '*;M*9 .( 0(:1*; M(.(<*;, *<:(0(102 =1=/9()10*./& *< M(.(<2L!]# D&+( W(7*09 `*(G&9 !["[#L<!# ,F *-2/ -(+(<&0(1.'( &1.-&9(4&0( J:&+( R*/*1<(L , =1=/(9':(<9(/( -9*./*9 .2 9(5:&0( -* T.-&9(+1*;T /*'= J.'*9* ':(<9(/1& -+(1> 2+&-/&31* -9&52;+02A <*'a(+(<&* /2K& 421/9(+&5(4&0&L> '*9&./& .2 -29&M291( 9(.-9)21*./> -*7+2< 1( '9(0*+&'> ###, = &./*; -29&*<=B!;# O(A1&H'( 1(3.+0( CE.>.C & C`.3('C9 !["S# ,F 5( &1<=./9&0(+4( g1/& U/2>.( P'*A?*/A*(RA *-2/ -929(<( T;25*12/(TA a2.(' , GI '=@2> ./(1<(9<&5*:(12 ./(;6212 02<&1&42A 12'2

'=@2 .= *6*0212 = .'+(<= .( -=9&./&3'&; 1(32+&;( * *-/&3'&; .:*0./:&;( 6*02!S# =7. '2\. G( D(0G.1F*e G&A+21@9 n-2-@(/-9 !["X# J1(.2+02 -*< .=-29:&5&0*; ?&.(L ,F*./:(92102 -&B( CW&-/*(1C!X# m*1'2/31& /(A G( 3.A&)-. E&@. 1(/*A( 2 q.1.7&9 !["X# J-9*02'(/ 02 &;(* -*<9)'=;+(<&8> 625 *65&9( 1( &<2*+*)'= -9&-(<1*./A *1& .= 6&+& *<=)2:+021& .+*6*<1*; .&;2/9&0*;>/281&3'&; &1*:(4&0(;(> ;28(1&5;*; 5( *<9K(:(102 3&./*@2> '+&;(/&5(4&0*; & ('=./&'*;.'=-)/&12A 9(<& .( 12@('*; ,F -9:& -9*02'(/ :2+&'*7 0(:1*7 5<(10(> :98=1(4 -=9&./&3'2 M(52A

6&+2 .= -92<:&P212 <:2 579(<2 , .2'92/(9&0(/ & .'=-)/&1(A '*9&)@21( 02 (9;&9(1*,62/*1.'( -*:=321( '*1./9='4&0( J;*1=;21/(+1*./ , = *6+*5& *< '(;21( & 8&029(98&0.'*; .&./2;= =+(5(.( E :9(/( J'9*5 '*0( =+(52 *<92P212 '(/27*9&02 = (=<&/*9&0=;LL> 8*9&5*1/(+1& -9*5*9&> '9*:1(

6()/(A .(+( 02 -9*02'/*:(1( = *602'/&:&./&3'*; ;(1&9= J*6+&' -9*&5&+(5& &5 ('=./&'2LA 9(< 02 =)(*= 1(0=K& &56*9 JK&9&B ?./+(@.9 M*e,(19 8/-(9 T*G./R ;2P= IEE 9(<*:(> (+& 02 <&-+*;(/.'*;&1&4&0(/&:*; <&.':(+&M&'*:(1 J029 1&02 -*<12/ = *<7*:(9(0=@2; 79(M&3'*; ;2<&0=> 1(:*<1*A/('* 02 *:(0 -9*02'(/ 6&* /(3'( 9(5<:(0(10( 12 .(;* =1=/(9 X2 i*96&502*:*7 .*-./:21*7 9(<(127* & = *<1*.&;( .( ;2P=1(9*<1&; ;*<291&; -*'92/*;L> <( 6& -9*)(* '9(0102'*1:214&*1(+(1 -9*02'(/, = /* :92;2 X2 i*96&502 <*+(5& = .='*6 .( 12;(3'&; (98&/2'/&;( &5 -*'92/( T1*:(*602'/&:1*./T J12;(3'( (98&/2'/*1.'( +2:&4(L> *'* 12'&8 M*9;(+1&8 (.-2'(/( X2 i*96&502*:2(98&/2'/=92 '*0& &;(0= .;&.(* &5:(1 M=1'4&*1(+12 9(:1&A 1(&;2 1027*:& -9*02'/& 0(:1&8 57(<(.:2 :&)2 .= ;*1=;21/(+&5*:(1& J= /2K10& <( -*:2K2 &1K21029.'= 2./2/&'= & (98&/2'/=9=>=/&+&/(91*./ & 8&029(98&0=> 1( -9# -9*02'/& G( q.1.729 !["[# C6/(A T*1A&0(+C & = *':&9= 1027(

5&7=9(/ CT2G.0 T*1A&0(+CL> -*:25(1& .( 02<1*;> = .=)/&1&> '+(.&4&./&3'*; &59(K(01*;+*7&'*; J69(1& .2 2.202; C8AN/(1( (/F&-.'-2/.C 1( 3&02 5(7+(:+02 ./(:+0( 02<(1 4&/(/ = '*;2.2 &5;2P= *./(+*7 '(K2 <( 02 T1*:( *602'/&:1*./T =1&)/&+( <:2 923&B (98&/2'/=9( & =;2/1*./>5(;21&:)& &8 9(3&;(B 79(<&/& & K&:2/&L

, ![":#L<[#4, 2/N(1&3-&H'( A.+(-1*3-4!:# C8G(/.1& @/(AC PD&++. O(A&.23.R9 ![<^# J1&'(< 1&02 *./:(921> (+& 02 *< 51(/1*7 =/&4(0('(* ;*<2+ = -*.+29(/1*0 _:9*-&A -92 127* 7( 02 5(:9)&*> -=/=0=@& (:&*1*; = c=K1= S;29&'=>7+2<(0=@& &5 /2 -29.-2'/&:2 , <*-(* ;= .2 R&* <2 n(12&9* '(* -9&9*<1& +&12(91& 79(<L ,F

-929(<( T8&029(98&0.'*7T T\(:92;21*7 79(<(T = T62.'+(.1&T W&++2 R(<&2=.2A ;*<2+ 1&02

421/9(+&5*:(1> :2@ J/2*9&0.'&L 12*79(1&321 , -* =7+2<= 1( T&102-&1*7 +&1.(/1& @/(AA 79(< 025*1&9(1 /('* <( -+(1 *<9(K(:( &5:2.1= (1/9*-*;*9M1*./ , 8=;(1&5(; J@+(7( , '9./(./&

!CD



II# X2 i*96&502

*6+('*<29&> 3/K. , '=+/=91( 5*1(> B+2\( , ./(;621( 5*1(> ### , = ;2/(M*9&31*; 49/2K= 79(<(LA.:2 ./9='/=92 .= &5<&71=/2 1(< /+*; J3(' & 7(9(K2 & -9&+(51& -=/2:&A /+* , '*1/&1=(+1& -(9'LA*./:(921( .= T*.1*:1( 5(<*:*+0./:(T , \=142> -9*./*9> 52+21&+* J12 .(;* '9*5 -(9'> :2@ &'9*:1&; :9/*:&;(LA -&B N+*'( J'*1/&1=(+(1 1&5 '=@(L 02 '*1/&1=&9(1& C/.A.1-C ,*A.+J9(56&021( /9(<&4&*1(+1( -29&;2/9(+1( ./9='/=9(LA D&++. O(A&.23. 3-(1 02 ./9*7*

M=1'4&*1(+&./&3'& -9*02'/*:(1 J9='*:*<& .2 ':(1/&/(/&:1&;> =;2./* T\&/9*(1T ':(+&/(/&:1&;./(1<(9<&;(LA M+2'.&6&+1& (-(9/;(1& .= = 02<1*; 1&:*=> 9(5+&3&/&8 -*:9)&1(> -9279(<1& 5&<*:& .= -*;&31& J-( .2 ./(1 ;*K2 '*9&./&/& & <(10= & 1*@=L> .:2 02 '+&;(/&5*:(1* &5( 5&<,5(:2.2> ### J*:2./(;6212 02<&1&42 2'*1*;&31&02 .= *< -92P2)10&8 <=-+2'.( , *-/&;(+1* &.'*9&)@21 -9*./*9L, 5*12B !# .(/2+&/.'( 1(.2+0( 1(;21021( *69(5*:(10=A "# -*.+*:1( 5*1(A I# 5*1( /9(1.-*9/( .(K2+251&3'&; & (:&* -9*;2/*;A D# 5*1( 8*/2+2 & (;6(.(<(A G# ./(;621( 5*1(A Q# 52+21& -*0(.A E#5*1( +('2 &1<=./9&02A C# .'+(<&)/( & /292/1& .(*69(@(0A N# 5*1( /2)'2 &1<=./9&02A *:(0 -+(1 02 6&*X2 i*96&502*:( *.1*:( 5( -+(1*:2 %(1A&@(/( & ?/(G&+&0.![# C`+(1 8N23C G( g+>&/9 ![<^#L<<# J'*1'(:1* 5(/:(9(102 5(+&:( *< ./9(12 X2 i*96&502(1(+&' 02 1( -=/(10= 79(1(/2A -*.;(/9(0=@& R&* <2 n(12&9* 9*<&+( ;= .2 &<20( * 79(<= ,:&0(<='/= '*0& 02 .'&4&9(* 1( +&4= ;2./( & /* 7( 02 5(/&; <*:2+* <* -+(1*:( 5( S+K&9A 29*/&31*./ &

2'.-92.&0( = /&; 49/2K&;( 5( R&* & S+K&9 J-*-=/ Z2+('9*(LL ,F '*9&./2@& (97=;21/ *&.'*9&)@210= /+(> X2 i*96&502 .;2)/( (=/*-=/ J;27(./9='/=9( (=/*-=/(L &51(< Q .-9(/( !C,*.-9(/12 579(<2> :&0(<='/(A .-9(/*:& .= *97(1&5*:(1& '(* -(942+2 1( ;2P=.*61*; 9(5;('= *<G ; 5( &579(<10= = -9*&5:*+01*; ./&+= J<:*.-9(/1&4( = ./&+= = '*; K2+2 5( -9&:(/12 :+(.1&'2L, -*.+2 *:*7 -9*02'/( J*:* 02 6&* -*.+2<10& :2+&'&L> X2 i*96&502 .2 *'92@2 -9(7;(/&31&0&;=96(1&; 9(5;(/9(10&;(A =;2./* '9./(./&8> =.:(0( T{T *6+&' 5( *6+('*<292> ( T92<21/T 6+*' &5W&++2 R(<&2=.2 5(;210=02 .+*6*<1*./*02@*; ./(;621*; 579(<*; J'(* *.1*:1*; 02<&1&4*;L, 1( -9# B+(1 f+&1( J'(* 9*<*1(32+1&' T+&12(91*7 &1<=./9&0.'*7 79(<(L 2 %.)'*09 G( ?(-2J-9*&5:*P(3( 4&-2+(L ,F = /*; -+(1= -*:25=02 ./(9& 79(< & M(693'* .92<&)/2 s+&1( 1( <1= <*+&12.( (29*<9*;*; 1( :&.*9(:1&A -=/ & K2+251&4( &<= <*+&1*; /('* <( 02 . 02<12 ./9(12 M(69&3'&> ( .<9=72 ./(;621& <2*, !NDD# ,F 9(5:&0( 927&*1(+1& +&12(91& ;*<2+ ,F '*;6&1(4&0( +&12(91*7 ;*<2+( & /9&(17=+(4&02 =

-9*./*9=, *< !NII#,DE# X2 i*96&502 <*;&1&9( fVS?,*;

, 0(71. & 3-(,N.1. G@/(A. & B/*0.'-&4"^# M*3-.+ g/,&0. 3B(3(9 `(/&G9 !["[#L<<#"!# n7(0K(/3'& B(7&+0*19 l1&7./G&-.-3'& @/(A 2 `(/&G29 ![<^#L<"#""# T*+&-*/ N+*'9 B/.A@/(p. `(/&G(9 ![<^# ,F /= 02 X2 i*96&502 &;(* (-(9/;(1 J1( '9*:=L.:2 <* .;9/&"<# m*1'2/31& /(A G( `(+(-2 W*70.-(9 ![<!# ,F .+&31* '(* = -9*02'/= .2<&)/( X&72 1(9*<(> X2

i*96&502 2'.-29&;21/&)2 .( ;2P=.*61&; *<1*.*; 2+2;21(/( '*;-+2'.(> <( 6& .2 1( '9(0=*<+=3&* 5( ('.&0(+1* 1(.-9(;1* -*./(:+021( <:( (=<&/*9&0=;( J5( !GHHH> *<1*.1* QGHH +0=<&LA*:(0 T'*1./9='/&:&./&3'&T -9*02'(/ *<6&021 02 56*7 T&1<=./9&0.'2T &'*1*79(M&02 = (/;*.M29&/9&0=;M( .*492(+&5;( J1(7+()21( '*1./9='4&0( '*0( 02 1(-*+0=A *602'(/ &5<2+021 = :&)2.'+*-*:(L"]# f@/(A( c.1-/*3*02G(9 T*3'7(9 !["[#L<!# J-*'=)(0 -9&;212 <:*./9='*7 ./('+21*7 5&<(>'*0& 02 6&* ./(1<(9<1( /281&'( = ):(04(9.'&; c=9(;(> (+& 1&02 ;*7(* *<*+2/& *)/9*0 9=.'*0 5&;&

, '2\.4, -92'&< .( 2./2/&'*; -=9&5;( '9(02; "H,/&8 7*<&1( 925=+/(/ 02 92+(/&:&5(4&02 -*7+2<( 1(925=+/(/2 &1<=./9&0.'2 4&:&+&5(4&02A X2 i*96&502 .2 *'92@2 02<1*; &59(5= -*:&)212 927&*1(+12 ,

/*-*79(M.'2 .215&6&+1*./&A &59(K(01*./ .( (-./9('4&02 -92+(5& 1( '*1./9='4&0= J. 02<12 ./9(12

!CG



II# X2 i*96&502

:9(@( .2 927&*1(+1*; &59(5= '*< -*9*<&31&8 '=@(> ( .( <9=72 J'(* = \&/2 ?*1<&0(+2L;*1=;21/(+1*./& & '+(.&31*0 =5:&)21*./&L";# m2\( T(1A/*9 '*A b2+*1(9 ![<!# ,F 12*69(P21& '(;21> T6(3:(./&T .:*<"S# m2\( 5/(G2/&39 %&+.9 ![<^# ,F '(;21 h <9:*> 1(71=/& '9*:*:& J-*:9(/(' -9&9*<1&;;(/29&0(+&;( & -9&;&/&:1&; '*1./9='4&0(;(L

, 6+&.'* *:*;2B B(7&+0*1 Cj*7* A*N(C9 ,.p21(/*A1( &G+*>N( 2 `(/&G29 ![<X#A -+(/121&'9*: , '(* 1*;(<.'& )(/*9 , T(29*1(=/&3'&T &59(K(01*./ 32+&312 =K(<& J:&.2@( '*1./9='4&0( .(32+&31&; '(6+*:&;(L

, ![];#LS;#4, T*A2+*/9 ![]X# ,F -*.+2 9(/( X2 i*96&502 =*6+&3(:( .:*0 -9*-*94&0.'& .&./2; 5(.1*:(1 1((1/9*-*+*)'&; ;29(;( & 1&5= 8(9;*1&0.'&8 69*02:( J-9*&5&)+*; &5 5+(/1*7 -92.2'(L,(-.,(-&H(/( U&N*1(H&0( JUWVVV :#L -9:& ;*<=+*9 *-29&)2 .( +0<.'*; :&.&1*; *< !>EG ;> (<9=7& *< !>CI ; J/(0 ;*<=+*9 .2 5(.1&:( 1( 69*02:&;( = 5+(/1*; -92.2'= !Q & "EL"X# l1&-. AhM(N&-(-&*19 T(3.+09 ![]X#L;"# J!C,*.-9(/1&4(L ,F -*<=8:(/ 5(.1*:(1 1(

-*.+29(/1*; :+(<&1*; -9*79(;= 0(:1*7 ./(1*:(10(A /('* X2 i*96&502 -92<=5&;(

32/:*9*./9='& 2'.-29&;21/ = -*7+2<=B !# '*142-4&02 <=-+2'.( J9(1&02 02 /(0 -92.2' ./(1*:( .('*9&<*9&;( &./9(K&:(+( @/2B( 8Wg 2 WWWOL2R> "# /281&'2 79(<102> I# .*4&0(+1&8 2M2'(/(> D#=96(12 &1/29-92/(4&02 6+*'(A '*1./9='4&0( , .'2+2/ *< (9;&9(1*7,62/*1(A -*<*:& & 5&<*:& ,125(:&.1& *< .'2+2/(> <*69( 5:=31( &5*+(4&0(A :&.&1( !C .-9(/*:(A &57+2< , T.(@(./T J;27(9*1.'(@2+&0(./( ./9='/=9(L> .(1<=3(./> 62/*1 69&/ J:&<1& /9(7*:& <()3(12 *-+(/2 1( 62/*1= , 69=/(+&./&3'&;2/*<LA ./(1*:& &;(0= 6(+'*12 .( 69&.*+20&;( J5()/&/( *< \=14( , :*<*9(:1* &./=9212 -+*32'*02 )/932 &5:(1 579(<2L> 6*31& 5&<*:& .= 6*021&A = -9&52;+0= , -&+*/&.& J-9*M&+&.(1& ./=6*:& 1('*0&;( -*3&:( 579(<(LA '*9&<*9& 1( .:('*0 /92@*0 2/(K&A = .92<&1& :&.&12 02 0(:1( 5*1( J/97*:&1(& .+&31* , &1/279(4&0( '*;=1(+1&8 =.+=7(L> '(* & 1( '9*:= J7&;1(./&'(> <23&0& :9/&@> 6(521> ###LA1(0:2@& =.-28 O1&/2 <^[(6&/(/&*1 02 =-9(:* = &1*:(4&0.'&; :92<1*./&;( -9*0'(/( ./(1*:(>/281&3'&; 92)210&;(> 2./2/.'&; <*./&71=@&;(A 12=.-28 '(* C3*K&0(+1& '*1A.1G(-*/C , 0(:1&.29:&.& .= -9*-(+& &+& .= -9&:(/&5*:(1&> ./(1*:& .= */'=-+021& = -9&:(/1* :+(.1&)/:*###A -*'*, ;^L-&F X2 i*96&502 02 -*<&7(* 0*) -/& 3+&H1( N+*'( Pj(1-9 ?/&9 U&/,&1&R & 02<(1 = b2;(3'*0J?./+&1R, IIE ./(1*:( .02<&1021* 02 /97*:(3'*; =+&4*;> 8*/2+*; .( '9*:1*; /29(.*;> /93(102> -+&/'&;

6(521*;> <23&0&; :9/&@2; & :2K6(*1&4*;":# m(B.+( 2 O*1)(12 Pj*-/. =(,.LA2Lj(1-R9 ![;^#L;;# ,F X2 i*96&502 =:*<& /29;&1T:&5=2+1( ('=./&'(T J+0=.'(./ '9*: .( *79*;1&; -92-=./&;(> 6*312 '(-2+&42 & *+/(9A 927&*1(+1&&57+2< 02 .&;=+&9(1L <( 6& *-&.(* .1(7= .+&'( *:*7 ;(+*7 *602'/( 1( :98= 69<( J92+&7&*51*./>(+& 8=;(1&./&3'(> 12 ;&./&31( &+& 1(;2/1=/( , ;&.( .-*+0(LA 2'.-92.&:1( (98&/2'/=9( J*/:*9&9(5+&3&/2 :2+&3&12 & <=6&12L> -+(./&31*./ J&5=52/1& <2/(+0&L = .+=K6& <=8*:1*./& J('=./&'(>

(/;*.M29(LA '9*:1= )'*+0'= 1*.2 .'9&:21& 62/*1.'& ./=6*:& J'*0( <*;&1&9(> &1.-&9&.(1( 02826920.'&; 89(;*;A '(* (.*4&0(4&0( 1( 69*< h -9(:&+* '9231*7 ;+2'( ,F =/&4(0 ?2<&/29(1(L ,;(.&:1& 5&< &;( .(;* 2./2/.'& .;&.(* J6*312 '(-2+&42 .= -*+=4&+&1<9&312> *.:2/+0212 *<*57*'9*5 */:*92A .:*0 '9&:=+0(./& '9*: X2 i*96&502 02 1(./*0(* <( =3:9./& '(* "H,*:2'*:1&2':&:(+21/ 9212.(1.12 '=-*+2 /0# .(:92;21& 51(' 5( -*.:2@21* J/(0 -9*M&+ @2 '*9&./&/& & '*<'(-&/*+( = %(1<&7(9=LL"[# m2\( q(2+9 ![;;# ,F *-2/ .=-9*/1*./ 9(4&*1(+&./&3'*0 /9(<&4&0& ;*<291&5;( ,;*1=;21/(+1( 92&1/29-92/(4&0( ;2<&/29(1.'*7 79(<&/2+0./:( J-*.+2 <9=7*7 .:2/.'*7 9(/(*-.2<1=/ 02 .92<*52;1*; (98&/2'/=9*;LA 69=/(+&./&3'( =-*/926( ;(/29&0(+( , 62/*1> *-2'(> )-29

-+*3( J(98(&31& 2+2;21/&> 02<&1& .&1/2/&3'& ;(/29&0(+ 02 ./('+*A &579(<&+& 02 (+K&9.'& 9(<1&4& .(;*=5 -*;*@ T;29<2:&1(> 32'&@( & 2'.29(T

<^# T(1(3-&/ E( b2/.-9 N+&G2 E&*1(9 ![;^#L;;# J-*/214&9( -(9(<&7;= *.(;+021*./& &5(02<1&)/:( &5 _;2L ,F <*;&1&'(1.'& ;(1(./&9 , '*1/9(./&9( /:9<=> '=6&31= ./9='/=9= 579(<2 .(

!CQ



II# X2 i*96&502

-*'921=/&; /2921*;A 1( /9& ./9(12 '+(=./29( 02 ;(1(./&9 J-9&:(/1& (;6&021/L> ( 1( 32/:9/*0 49':(J0(:1& -9*./*9LA &1/29-92/(4&0( '(9/=5&0(1.'*7 ;(1(./&9( _;2 J-9*6+2; &1./(+(4&0( , .:2 &<2 '9*5

-9*./*9A ./9*7 &59(5> ;(+2 @2+&02 JX2 i*96&502*: ;*<=+*9 ">IQ ; -=/( ">IQ ;LA =5<&71=/ &51(</+( /('* <( 12 <2+=02 /29(.(./* =79(P21 = /+* 1(71=/*7 /2921(A )2/(+&)/2 1( :98= ;(1(./&9( , :&<&.2 .(;* 126*

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6&+( -=./&10(L h .&./2; '(1(+(

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ID# ?&. :(1 <29 R*2

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-*:9)&12 .= = 6+(7*; 1(7&6= 02<1( '( <9=7*0 <( 6& .2 &5627+( ;*1*/*1&0( -92:2+&'2 ./('+212 -*:9)&12L ,F *-2/ &<20( T'*./&0= & '*K2T , 2'.-92.&:1* 92)2102 /9*=7(*12 -(942+2A .+&31*./ .(

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02 .2<;*.-9(/1&4(A 3(.*-&. 02 -*.:2@21 .(:92;21*0 2./2/&4& J*:&; -*3&102 /5:# C6C /(GA*N+0.= ?&.*:*0 '(9&029& TrT .215&6&+&/2/ -*:25=02 '*1./9='/&:1= *602'/&:1*./ .( <(<(&./&3'&;

*.2@(02; 5( .+=3(01*./L:# `/*0.'(- '2\. G( *A,*/9 !["<# ,F *-2'(> TZ2 \/&0+T -9&14&-& , *.1*:( '(* T'9&+(:2/9210(32T, *< !N"I# /9& =/&4(0(B Y29+(72*:( /9(<&4&0( *-2'2> ]9(1' X*0< R(0/ = Z2 \/&+,= & .=-92;(/&5(;i# ?(+02:&3(

, !["S#L<X#4, -9:& &5:2<21& -9*02'/& = <=8= ;*<2912 (98&/2'/=92B[# WB*,.1&' m(/+2 E&N'1.F-2 & O*G& E2'3.,N2/@9 !["S# ,F <&1(;&31* -*'921=/2 '=6&312;(.2> 6+&.'* 2'.-92.&*1&5;= g, m2\( D*+e9 62N.19 !["S# ,F 62.-92'*91& 5(1(/.'& 9(<*:&> *-2'( g .:2 = *-24&, m2\( 53-./39 !["X# g 1(06*+0& 79(<&/2+0 , 5&<(9 , m2\( E([email protected] m/.e.+A9 ![":# g, 1( *:&; -9*02'/&;( 1(9*3&/* .= .1(K1& =/&4(0& Y29+(72*:2 '=+/=92> *-2'2> 9(1*7 R(0/( & Z2\/&0+,( JM*9;( *.1*:2L & .=-92;(/&5;( J'*;6&1*:(102 M(.(<2 & -*<./&4(0 5( 9(5:&0(102.+*6*<1*7 -+(1(L!^# Y.&33.1F*e3&.A+21@9 n-2-@(/-9 !["X# P1(3.+0. D(03.1F*eR, -9:( :2+&'( &5+*K6( .(:92;21*7 ./(1*:(10( , &G+*>N( Y./'N21AL( C3-(1C> = *':&9= '*02 02&5:2<21( '*+*1&0( W(0.218*M , &1&4&0(/&:( & =96(1&./&3'& -+(1 , ?&.A 4&+0B &579(<&/& *602'/2 ;*<291&; ;(/29&0(+*;>&1<=./9&0(+&5*:(1&; -*./=-4&;( ,F *602'/&:&5(;

V , -9:& ?&.*: -+(1B (+=5&0( 1( T\/(</'9*12T Jq(=/*:( T'9=1( 79(<(TL , '*1/&1=(+1& =96(1&*6+&'VV , <9=7& -+(1B -9(:*=7(*12 -(942+2A J1( '*0&;( .= -*<&71=/& T&5+*)4&T '=@(> -* 1(49/&;((98&/2'(/( w29'6=1<,(L, (=/*9& *602'/(B II '=@2> !E (98&/2'(/( J!" b2;(4(LA -9&.=/1&B T&39 82A9 E. m*/N&G0.96/*B&0239 M&+N./G(0,./9 N/(\( b(2-9 `.+K&@9 ?./.139 n(/219 ###, 579(<2B 62+2> -9&5;(/&312> 9(:1& '9*:*:& ,F *.1*:( V1/291(4&*1(+1*7 ./&+( J'*0& 02 <*6&*1(5&: !NI"#L, ?&.*: <*-9&1*.B H.-7*/1( -/*3B/(-1&K( G( "] 3-(1( P;L*3B/(-1&K(RA M&'.1*B ;2/(+1& .'2+2/>./2-21&)/(> &1./(+(4&*1( 02579( .( '=8&10(;( & '=-(/&+&;(A -*;&31*B ./=6*:& J-*;*@=

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ID# ?&. :(1 <29 R*2

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/9(<&4&*1(+1&8 ;(/29&0(+(L, *.1*:(B C 89*;&9(1&8 '9./(./&8 32+&31&8 ./=6*:(A .+*6*<1& -+(1 , *./:(921 =5<=K1&; -9279(<1&; 5&<*:&;( J*< 52+21*7 ./('+(LA -92+&:(102 21/29&029( & 2'./29&029(A 6(521& , .-*+0( &=1=/9( J1( 7+(:1*0 /29(.& & =1=/9()102; <:*9&)/= J5(/:*921* 491&; ./('+*;L> &+=5&*1&./&3'&

-9&5*9B :*+=;21&> 6*02> *<6+02.4&> '*1/9(./&L, =1=/9()10& -9*./*9 -(:&+0*1( (9/&'=+&.(1 1*.(3&;( & ./=-4&;(> -92+(5& = 5(/:*921& -9*./*9=1=/9()1027 <:*9&)/( .( 6(521*; *79(P21*7 491&; ./('+*;, ;(/29&0(+&B, -+2;21&/& '(;21> ./('+* J52+21*> .&:*> 491* *7+2<(+*L> 89*;&9(1 ;2/(+> :*<(> ###> ;29;29J52+21&> =7+(3(1&L, 3-*+&K( CN(/3.+*1(C J&5+*K21( *:*; -9&+&'*; J*./(+( 32/9& '*;(<(B ./*+&4( T6(9.2+*1(T 625

1(.+*1( & ./*> 1(.+*10(3 & '(=3LLB 89*;&9(1& .(:&021& 32+&'> /(-(4&9(1& /2+2@& 6*'. J02<(1 *< ;'*,(A( 1(,.)-(0( 1(<(81=/&8 u&1'2+*;> '*02 02 ?&. -9*02'/*:(* !["[#L<^#!"# m2\( [email protected](-9 ?/1*9 %.F*3+*7(H'(9 ![<^# ,F 1( ./;*; /2921= . -*7+2<*; 1( Y91* ,

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02 .3.0 Cj*7* A*N(C> = '*; .2 -*+2;&3'& *.:9@2 1( T*602'/&:&./2T , *1 /:9<& <( 02 1*:* <*6(92(+1*./ J3&1021&4(L> '*0( 12;( :92<1*.1& .(<9K(0A <=8*:1* :(K1&; -&/(102; = (98&/2'/=9& 12.;(/9( T)/(T 127* T'('*T> -+2<&9(0=@& 5( ./:(9(102; 1*:*7 :9<1*.1*7 .&./2;( J;*9(0= .2

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ID# ?&. :(1 <29 R*2

, ![<:#LS[#4, !NIC# -*5:(1 02 <( :*<& V1./&/=/ (98&/2'/=92 J&;(* 02 -*/-=1= .+*6*<= <( 9(5:&02 )'*+=(98&/2'/=92 1( -9&14&-&;( 02<1*./(:12> +*7&312 79(<102 & -9&;212 &1<=./9&0.'2 /281*+*7&02L -9&V1./&/=/= 5( /281*+*7&0= <9K(:2 V+&1*&.> %&'(7* JTV V qTL!;# `/*0.'(- '*,B+.'3( J J b9 ![<[#L]^# Jq281*+*)'& &1./&/=/ <9K(:2 V+&1*&.L ,F <=8

.=-92;(/&5;(, =96(1&5(;B *.1*:( *'* 02<12 *.2 .&;2/9&02A 579(<2 , 3&./2 -9&5;2 1&.'2 .-9(/1*./&J32/:*9*.-9(/12L .( M(.(<*; -*-=/ ;&+&;2/(9.'*7 -(-&9( , -*<2+( ./('+(> .( *<9(5&;( 126(A*<1*. ./=6 , 5&< J./('+21&L <*6&0( 1( 51(3(0= J./=6*:& J= -9:*0 :25&0& ./=6*:& .= 6&+& &.-92<./('+21*7 -+(/1(L .= = .'+*-= 5&<1*7 -+(/1( J-*0(3(1& =7+*:& &.-=1*; *< *-2'2L> /* 02*;*7=@&* TVT -9*M&+ , =.;2921LA 9(51*:9.1& .(<9K(0&, f@/(A( G( &3-/(>&7(10. ,&1./(+( & ,.-(+(9 ![]"# ,F =.(:9)(:(102 :29/&'(+1&8 1*.(3(> /0#./=6*:( TVT -9*M&+(> <( 6& '*< W2+&'2 ./=<21/.'2 <:*9(12 -9&;21&* ':(<9(/12 32+&312 ./=6*:2 =

62/*1=, ?&N+&*-.'(9 ![]"# ,F -9:( *< 79(P2:&1( 3&0( .2 ;*1=;21/(+1*./ 5(.1&:( 1( <&:*:.'&;<&;215&0(;(> )/* @2 -*./(/& *-.2.&0( 3&'()'&8 (98&/2'(/(A '10&K1&4( 02 -9*/*/&- ?&.*:*7

'(.1&027 /&-( 02<1*2/(K1*7 9(.-*1( J&1(32 &;( /9& 2/(K2> ( -9*./*9 02 9()3+(1021 .(;*.-92;&)/2; 5( '10&72> 5(/:*921&; <:*9&)/2; & :&.2@&; ;25(1&1*; , 7(+29&0(L, D.+&'( 3-2A.1-3'( A7*/(1(9 ![;"#L;S# J-9&;29 5( '(.1&02 :&)22/(K12 ?&.*:2 '*1./9='4&02L, g/F&-.'-*13'& e('2+-.- Pc/*V1 F(++R9 ![;"#L;S#4, -*:9(/(' u&1'2+*:*0 /9(<&4&0& JS+/2. ;=.2=;LA 9(5+&'( , '*< ?&.(> ./9='/=9( -9*./*9( 02

-29&M291*> ( 12 421/9(+1* =.;2921(, T7*/.'& -9&14&-T , 02<(1 9(.-*1 J-9&5;( QE ; -=/( IE ; , .&;2/9&31(L, 579(<( 02 ;1*7* *3B*/(7(1( PZK21'. ,F 6='(L, *./:(92102 5(;&.+& * T-9('/&31*; & 2'*1*;&31*; -9*./*9= '*; @2 .2 M=1'4&0( -9&+(7*<&/&T!S# m2\( U*/137*/- J5( <9 ]*91.:*9/L9 U*'3 O&7./9 J+&1*&39 ![]S#L;^# J'=@( = 02<1*;:*+=;21=L ,F 1( -*./(;21/= J*< .-*+01&8 ./=6*:(L> !>G ; &51(< /+(A 9(.-*1 Q>E ;> =1=/9( 625./=6*:(A ./('+21& *;*/(3> = .'+(<= .( ?&.*:*; &592'*; C3'*/* 1&)-(C J*/:*921( 32+&31('*1./9='4&0( 02 62+(> /29(.(> -*< & ./2-21&)/2 *6+*K21& /9(:21/&1*;LA =/&4(0 , .=-92;(/&5(; &u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

w2&..218*M.&2<+=17 JW(0.218*M 1(.2+0=L = -*7+2<= 79=-&.(10( &1./(+(4&0( J'=8&10(> '=-(/&+*L =.92<&1& J56&021& *'* <:( +&M/( = .92<&1&L> ( -29&M291* .= <12:1& .(<9K(0&A M(.(<( , ./=6*:& <*+(52<* &59(K(0( 1( M(.(<& , ;*<=+(4&0( -9*5*9( S,Y,Y,S J./=6 , =.'& -9*5*9 , )&9*'& -9*5*9 , )&9*'&

-9*5*9 , =.'& -9*5*9 , ./=6LA Ts2;-29*:.'*T /'(102 JM(.(<2 /0# ./(1(L , .2'=1<(91& ./=6&@& .=.-*+0(, '*1./9='4&0( '*0= 02 5(-*32* :2+&'*; ./=<21/.'*; <:*9(1*; '*9&)@21( 02 = X('2 \8*92Z9&:2 *6+('*<29&;(, -*.+2 *:&8 *6+('*<29( ?&. .:2 :&)2 79(<& *602'/2 5( <9=)/:212 &1./&/=4&02 & /97*:4212'92/1&1(;(> ( 1(0:2@& =.-28 02B!:# W&@/(, N2&+A&1@9 T.1F.-19 j02 Z*/'9 ![;:# 3( U&+&B*, =>*13*1*, ,F -9:& & 02<&1&?&.*: -9*02'(/ 1( ?2182/1=A -*.+*:1& /*9(10 *< IN .-9(/*:(> *-2/ Ts2;-29T M(.(<( = 69*15& &

69(*1 ./('+=A *./:(921( &1:2./&/*9*:( K2+0( 5( -=6+&4&/2/*; & -92<./(:*; ;*@& & =/&4(0(J\&79(; l '*;-(1&0( :&.'&0(LA = -9*02'/= =32./:*:(* & U&+&B =>*13*1

!N!



ID# ?&. :(1 <29 R*2

, 579(<( 02 "E ; =:=321( *< 927=+(4&*12 +&1&02 = 51(' -*)/*:(10( -92;( 579(<& R('2/ i+=6('*0( .2 1(+(5& .( <9=72 ./9(12 a(9' S:21&02![# C`(7&+0*13'&C B/*0.'-&4, m*1@/.31( F(+(9 %&'(@*9 ![;<# J-*.+2<10& .=-92;(/&./&3'& &.'(5 ?&.(A 12&5:2<21(79(P2:&1(A /926(+( 02 6&/& :&.*'( !C ;> *6+*K21( ;29;29*;> &5<&71=/( Q ; *< /+(L ,F -9*./*91(

92)2/'(, 6/(A3'* B*G*/&)-.9 T(01F(0,9 ![;<# J'*1./9='4&0( '*0= 02 5(-*32* '10&K1&4*; , 6&6+&*/2'*;L ,F 9(:(1 '9*:> 9(;*:&> 92)2/'(./& -9*./*91& 1*.(3&, j(K&*1(+1( @(+./&0(9 ?./+&19 ![S"#LS:# J&5:2<21*L ,F .(@(./( '*1./9='4&0( '9*:(

, -&/(B G 12&5:2<21&8 -9*02'(/(B!# R(08.6(1'> Y29+&1> !NII#"# i=@( & 7(+29&0( i92+29,?&+29> [(7> !N!"# J12&5:2<21&B G>Q>ELI# i*1792.1( 8(+(> %&'(7*> !NGI#D# a*5*9&)/2> ?(18(0;, W&+( = W(0*;&17= gm

, i*1'=9. 5( S+2'.(1<29-+(4 gmG# i=+( 5( '*1/9*+= .(*69(@(0( , ]9&<9&8)/9(.2 & X(0-4&729)/9(.2

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IG# b*:( *602'/&:1*./

<;# j*7( *N0.'-&71*3-

, 1*7( *N0.'-&71*3- PC1.2. W(KF+&KF'.&-CR9 !["<#L<<# ,F b2;(3'(> [*+(1<&0(> u:(04(9.'(!# M=1'4&*1(+&./&3'& ./(: -92;( -9*02'/*:(10="# .=)/&1( 79=62 <9=)/:212 92(+1*./&I# 12.21/&;21/(+(1 -9&./=-D# 12&<2*+*)'& -9&./=- , &59(5&/ .*4&0(+&./&3'& ./(:

, B*0(, C1.2. W(KF+&KF'.&-C4, &59(5 C*N0.'-&71*3-C PCW(KF+&KF'.&-CR 3. 2 j.,(H'*0 J12;(3'&; '=+/=91&; '9=7*:&;(L> ='*1-.'3-2 (/F&-.'-2/.> '*9&./& .2 0*) *< *-B/&+&'. ![^^# & M./,(1( T2-.G&023(> '*0& 7('*9&./& '('* 6& 10&,. *G1(H&* e21'K&*1(+&3-&H'* B/*0.'-*7(10. J/&-( 217+2.'&8 -*'92/( M922(948&/24/=92 & 7(9<21 4&/dL, &59(5 C1*7( *N0.'-&71*3-C JT12=2 \(48+&48'2&/TL9 ![";#9 27*A& +&'*71& '/&-&H(/ M(/-+(2N>'('* 6& 10&;2 *51(3&* @/2B2 3+&'(/( '*02 *< -*.+2 9(/( !N!C# '(9('/29&)2 02<1( :29&./&3'(>

(1/&,(-./9('/1( & (1/&,2'.-92.&*1&./&3'( /21<214&0( J6/*39 =&'39 n(A & A/2@&LA *1& /9(7(= 5(*/'9&:(102; .+*02:&/*./& ./:(91*./& .(/&9&3'&;> .*4&0(+1* (17(K*:(1&;> '(9&'(/=9(+1&; +&'*:1&; 025&'*;> '*0& =02<&10=02 8=;(1*./ & 7*9'= (792.&:1*./A 92<='*:(1*; M&7=9(+1*)@=> *:& .+&'(9&/2K2 <( -9&'(K= 625+&31*./ .:2/( '*0& &502<1(3(:( +0=<2 & ;()&12, -*< T1*:*; *602'/&:1*)@=T> M(/-+(2N 1. B*A/(G2,.7( C3-&+C *:*7 .+&'(9./:(> :2@ 12)/*)/* 3&1& 1027*: 32)-&13'& 3(A/>(0 , *-)/& <=8*:1& 12.21/&;21/(+(1 ./(: J*602'/&:1*./L *<9=)/:21*0 ./:(91*./&A /('* .2 IH,/&8 7*<&1( *:(0 &59(5 )&9*'* =-*/926+0(:(, 2 (/F&-.'-2/& C1*7( *N0.'-&71*3-C -*<9(5=;2:( &59(5&/* +.7* '/&+* (7(1@(/A.> -*7*/*:*= j.,(H'*0A 0(.1&8 T./&+.'&8T :25( .( :29&./&3'&; .+&'(9&;( 12;(> :2@ .2 ;*7= 1(@& =.+&31*; *<1*.= -92;( ./:(91*./&, /23'& &G7*/& *N0.'-&7&3-&H'. (/F&-.'-2/.4 =1*.2 .*4&*,-*+&/&3'= '*1*/(4&0= ,F =:*<B 1('*1

p'/*6(9.'2 92:*+=4&02 !N!E# & .+*;( b2;(3'2 !N!C#> & R=.&0( & b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rT Jr2./(+/=17 l *6+&'*:(102LL &F*+(1A3'& (/F&-.'-( T(/- W-(,> 3*:2' 9(<&'(+1* +2:2 *9021/(4&02A '9(02; 7*<&12 *1& *<+(52= u:(04(9.'=

, n7(0K(/3'(4, !N"D# *.1&:( .2 J=7+(:1*; 1( -*<./&4(0 _+ X&.&4'*7L +2:&3(9.'( 79=-( Cg?cC .( .2<&)/2; =Y(52+=, 3+(1*:&B 5+ E&3&K'&9 T(/- W-(,9 5,&+ O*-9 M(13 n,&-9 M(1.3 T(0./9 M(13 D&-7./ P&A/2@& n7(0K(/K&R, 4&+0 79=-2B -9*02'/*:(102 <9=)/:21&8 79(P2:&1( = .'+(<= .( 1(=31&; 1(32+&;(A 79=-( .:*02./(:*:2 -9*-(7&9( = &./*&;21*; 3(.*-&.=A V 69*0 , W-(,*7 /2'./ * T'*+2'/&:1*; *6+&'*:(10=T& /2'./ 5+ E&3&K'*@ * <=(+&5;= M=1'4&*1(+12 '*1./9='4&02 & (-./9('/1&8 2+2;21(/(A VV 69*0 ,&512/2 .= -92*'=-(4&02 79=-2 1*9;(/&:1&; ./(1<(9<&;(> 2.20 * (;&9(1*;,62/*1= = -9*02'/&;(X2 i*96&502(> ?&.( & \/(;(A 79=-( .2 &59(5&/* -9*/&:& ;(.&:1*0 (98&/2'/=9& J)/* 02 79=-( .(K2+(

02<1(3&1*;B 579(<( ` /281&'( l ;*1=;21/(+1*./

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IG# b*:( *602'/&:1*./

!# `/*0.'(- G( )'*+2 2 ?(G.+2 L M(1.3 T(0./ & M(13 D&-7./9 !["S# ,F 9(50()102102M=1'4&*1(+&5;( & (1/&;*1=;21/(+&5;( 79=-2A )'*+( 02 *<&71=/( *< /+( J9(<& \=14(> .:2K27:(5<=8(> -(9'&17(A = -9&52;+0= .= .(;* 6(521 & :2K6(*1&4( = 5(/:*921*; -9*./*9=L> '9*:*:&.= 9(:1& J/2921& 5( 92'92(4&0=LA ;(.( 579(<2 '*9&./& .2 5( -9&<9K(:(102 <:20= :&.2@&8 -+(/M*9;&J5( &79(+&)/(L -*;*@= '(6+*:(A *-92;( , ;2/(+1& -9*5*9& & :9(/(> 7=;21& -*<*:&> *-+(/( *<

(562./ , 42;21/("# `/*0.'(- G( G@/(A2 E&@. 1(/*A( 2 q.1.7& L T(0./ & D&-7./9 !["S#L"X# ,F = -9*02'/*:(10= 02 '*9&)@21 ;*<=+ -*7*<(1 5( ;*1/(K1= 79(<10=A 579(<( 02 -*<&71=/( 1( ./=6*:2 J-(9'&17LA(=<&/*9&0=; 02 -9*M&+&.(1 1( *.1*:= ./9*7&8 ('=./&31&8 -9*9(3=1(A T*602'/&:1*./T '*0*; .2(=/*9& <&32 J& 125(&1/292.*:(1*./ 5( .&;6*+&31( .:*0./:( 79(P2:&12L <*:*<& .2 = -&/(102*-)/*; .+&'*:&/*)@= '*;-*5&4&02 & 92)210&;( '(* )/* .= *./('+0212 '=+2 +&M/*:( &+& *./('+0212'(142+(9&02, 79=-( Cg?cC -9&:9K21( 02 *602'/&:1*; -9&./=-= & 79(<10& & K&:*/=> '(* & *-92<2+0210= <( .2.+&K& &.'+0=3&:* 5(02<1&3'&; -*/926(;(A * /*;2 7*:*9& & T(0./*7 .3.0 Cj*7& 37.-C9 !["S# ,./(1<(9<&5(4&0(> /281*+*7&5(4&0(> '*9-*9(/&:&5(4&0( & -92:+(<(:(102 5(02<1&42 1(< -*02<&142;7+(:12 .= *<+&'2 /*7 1*:*7 .:2/(

, M*+(1A&0(4, *602'/&:&./&3'( (98&/2'/=9( 9(5:&0( .2 = [*+(1<&0& *A,(F B*3+. B/7*@ 37.-3'*@ /(-(>1(9*3&/* 2 O*-./A(,2

L Z(K*N23 Z*F(11.3 `&.-./ 82A PZ# Z# `# 82AR, *'* !N!Q# <*+(5& = '*1/('/ .( 7(1 =2&GN2/@*,> )/* 925=+/&9( 1027*:&; -9&.=./:*; = TZ2\/&0+T,= J1&02 1&'(< 5(&./( -9&-(<(*> 1& ;(1&M2./ 1&02 -*/-&.(*L .:2 <* !N"!#A &5 /2 M(521(051(3(01&0& 1027*: B/*0.'(- 0. U(N/&'( `2/,./.1A9 ![![#, !N!C#,II# 6&* 02 79(<.'& (98&/2'/( R*/29<(;(A 1( /*0 <=K1*./& &579(<&* 02 7.+&'& N/*0/(A1&H'&F 1(3.+0( & 3-(,N.1&F G@/(A( = M=1'4&*1(+&./&3'*; ;(1&9=!# :(K1*B = 1027*:*; 9(<= 02 :&<(1 .1(K(1 =/&4(0 ?./+(@.*7*@ =96(1&5;( , p=< '=@2 79=-&)2= 5(/:*921& 6+*'A 1(0:(K1&02 = 9(1*0 M(5& 02 j(3.+0. b23).1A&0'.19 O*-./A(,9 ![" #̂L"!# ,&5<=K21& /9*.-9(/1& 6+*'*:&> )2;(/.'& *97(1&5*:(1&A -*.261( -(K10( 02 -*.:2@21( =1=/9()102;<:*9&)/= 6+*'( J./(52> /9(:10(4&> &79(+&)/(L, -* 9(5+(5= .( :(1 Z=&56=97*;> <*+(5& <* -=1*7 &59(K(0( 1027*:( /9(15&4&0( '( T1*:*0*602'/&:1*./&T"# j(3.+0. 82A T(-.1K.9 O*-./A(,9 ![""#L"]# ,F /9*=7(*1* 1(.2+02 .( '*1421/9&31&;1&5*:&;( '=@( J1&.'2 -*9*<&312 '=@2 .( <=@(1&;(LA ;(/29&0(+ , <:9* & ;(+/29> -92<:&P21(/9(01*./ "G 7*<&1(<# j(3.+0. M2' 7(1 M*+(1A9 O*-./A(,9 !["]#L"X# ,F *-2/ 02<1*.-9(/1& 1&5*:& 9(<1&3'&8

./(1*:(A *-2'*; *79(P212 -92<6()/2A /(K10( <( .2 -*./&712 :2+&'( &59(K(01( .1(7( *:&8.'9*;1&8 ./(;621&8 02<&1&4( *7+2<( .2 1(9*3&/* = .&7=91*; :*P210= +&1&0( & = -9&;21& -+2;21&/*7 ;(+/29(A 1(7+()21 5(*6+021 =7(*> 1(<./92)1&4( 5( -92<6()/2]# W-(,N.1& N+*'*7& 2 1(3.+02 m&eF2'9 O*-./A(,9 ![";#L"X# ,F ;&1&;(+12 ./(;6212

02<&1&42 *97(1&5*:(12 = 1&5*:2A *-2/ =9(:1*/2K21( (98&/2'/=9( .( 9(:1&; '9*:*:&;(A /9('(./& -9*5*9&;# .+&31* *:&; 92)210&;( ,F W-(,N.1& 1&G 2 '*+*1&0& D(03.1F*e 2 n-2-@(/-2 &G !["[#, -*.+2 !NII# p=<*: 9(< -*./(02 :2*;( M*9;(+&5*:(1 J12)/* '(* '*< R(0/(L

, @/2B( C=. 8BN*2VC & T(/- W-(,9 O*-./A(,4, 79=-( paYpOw> -9*792.&:&./&3'* , M=1'4&*1(+&./&3'&8 (98&/2'(/( &5 R*/29<(;(B ?/&1&,(19

7(1 A./ D+2@- P3-(1*7& ?./@B*+A./9 O*-./A(,R9 T(/- W-(,A <2+=02 *< !["^#

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IG# b*:( *602'/&:1*./

, !N"G# :9(@( .2 = [*+(1<&0= ?(9/ \/(;A -*'92@2 -*+2;&'= * *602<&1021*./&> 1(9*3&/* .(p=<*:&; -*<9K(:(102; /9(<&4&02 5(/:*921*7 6+*'(, = =96(1&./&3'*0 <2+(/1*./& W-(, -*'=)(:( <( -92*'9212 /9(<&4&*1(+(1 Y29+(72*: =96(1&./&3'&*69(5(4 '*0& =+&4= /92/&9( '(* 5(/:*921 .-*+01& -9*./*9A /* .2 :&<& = 1027*:*; -9*02'/= 5(H.-7/- O*1'&1 2 g,3-./A(,29 !["S#A 7<2 *1 '*1/&1=&/2/ =+&42 1(9=)(:( -9*+(51&;

-*.+*:1&; 6+*'*;A -9*02'(/ 02 */2+*/:*92102 \/(;*:2 '*142-4&02 T*/:*921*7 79(<(T!# U(N/&'( 7(1 j.+. P5( -929(<= 3(0(> '(M2 & <=:(1(L L W-(, & 7(1 A./ D+2@-9 O*-./A(,9!["X#L"[# ,F *./:(92102 .+&31&8 2./2/.'& & /281&3'&8 -92;&.( '(* = -9*02'/= ?(029( & W&/:29( 5(X&7= 1(9*<( = n212:&A '*1./9='4&0( & /9(1.-*9/1& .&./2; .= */'9&:21&A M(.(<( 02 = ./('+= &;2/(+= J(9;&9(1*,62/*1.'& ./=6*:& = *6+&'= -23=9'2A *.;*.-9(/1( 579(<(L, \/(; .2 = .:*; 2'./92;1*; ;(/29&0(+&5;= =<(+0(:( *< *./(/'( 79=-2> '*0( *'* !NIH# 1(./*0&<( -92:+(<( T*602'/&:1*./T T*-)/&; <=8*:1&; :92<1*./&;(T> )/* ;(1&M2./=0= =32)@2; =-.*G*e3'*, B*'/.-2, \/(; !["X# B/*0.'-20. 2 D(03.1F*e2 Pn-2-@(/-R> ( !N"C# -*1*:* *<+(5& = b2;(3'=J]9(1'M=9/LA !N"C#,"N# 6&* 02> 1( &1&4&0(/&:= M(1.3( T(0./( -*5:(1 <( -92<(02 = Y(=8(=.,=JZ2.(=LA = ]9(1'M=9/= 9(<& -*< =-9(:*; 5/13-( T(0(

, ![":#9 3( ?./+(@.*, & O&-7.+A*, , 8*+(1<.'& -92<./(:1&' -9&+&'*; *.1&:(10( fVS?,(J[2+298*M 1(.2+02> ]9(1'M=9/L

, @/2B( C=. :C & Z*F(1.3 =20'./9 g,3-./A(,, !N"E# 79=-( (;./29<(;.'&8 -9*792.&:&./&3'&8 (98&/2'(/( *.1&:( 79=-= C=. :CJM=1'4&*1(+&./&3'& '9=7LA 5(+(K= .2 5( 122./2/.'=> 12<9(;(/&31= & 129*;(1/&31= (98&/2'/=9=A1(051(3(01&0& 3+(1*:& 79=-2 .= g# W-(+ & =20'./

L =20'./4!# f*1.13-/(+ 3(1(-*/&02,9 M&+7./*2,9 !["S#L":#"# n'*+( 1( *-7*/.1*,9 g,3-./A(,9 ![":#L<^#<# m2\( 3( A/7.1&, *B+(-(,(]# ?&*3'*B cJj5gc9 g,3-./A(,, <:( <2+( J!# & "#L .= *< (;&9(1*7,62/*1( & ./('+(A &.'(5=0= .1(K12 '*1./9='/&:&./&3'2'(9('/29&./&'2 J:&<(1 .'2+2/ & .+#A & Z=0'29*:= .'+*1*./ '( .&;2/9&31*0 *97(1&5(4&0&A '(.1&021(-=)/( .:*0 ./&+ T+2-/&9(T & -*./(02 (M*9;(+(1L, ![<"# <*+(5& <* e2G&0. C=. 8BN*2VC & C=. :CA /( M=5&*1&.(1( 79=-( 6&+( 02> =./:(9&>8*+(1<.'& *79(1(' fVS?,( <* !NDI#

, j.,(H'(4, T1*:( *602'/&:1*./T J./(;621( &579(<10( W(0;(9(L = b2;(3'*0 -*:25(1( 02 .( -9&:92<1*;

./(6&+&5(4&0*; W(0;(9.'2 92-=6+&'2 '9(02; !N"I#> 1( *.1*:= &1*./9(1&8 J(;29&3'&8L '92<&/(>/0# .( =9721/1*; ./(;621*; &579(<10*; '*0= .-9*:*<2 .*4&0(+ , <2;*'9(/.'2 *-)/&12

L 8-* M.3+./ P8--* M(.3+./R ,F -&*1&9 &579(<102 '=@( = 1&5=!# m2\. 2 1&G2 2 1(3.+02 6.*/@3@(/-.1 2 c.+.29 M(1*7./9 !["]# J1(5=6+021> '*1/&1=(+(1&57+2< 1(.2+0(L> =/:9P=02 *-)/& .&./2; 10&8*:*7 79=-&.(10( , 92<*:& .= 9(5;('1=/& 1(0;(102 5(.:*0= <:*./9='= :&.&1= J*-/&;(+1( =<(+021*./ 56*7 =-(<( .=132:*7 59(3210(L> <12:12 .*62 .=*9021/&.(12 1( 0=7 &+& 1( 5(-(< & 7+2<(0= 1( 5(02<1&3'2 52+212 -*:9)&12A /* 02 ;*<291&./&3'(M*9;=+( .( 9(:1&; '9*:*:&;( & :&)26*01&; M(.(<(;( -* '*0*0 <* !NII# 1&3= ;1*7( 1(.2+0( =

b2;(3'*0 J/= M*9;=+= '*9&./&@2 & 5/13- T(0 G( 3-(,N.1. 0.A&1&K. 2 U/(1'e2/-2LA = *:*;1(.2+0= J.+&31* X*.*:&; &<20(;( &5 Y23(L .:('*; ./(1= .2 -9&<9=K=02 /29(.( 1( 0=7= & ;(+(

-(942+( 5( 7(02102 -*:9@(A /&- J'*0& @2 :(9&9(/& /*'*; '(9&0292L ./(1( , /9*2/(K1( *97(1&5(4&0( .(<:( ./2-21&)/(> <12:1*; .*6*;> ;(+*; '=8&10*;> '=-(/&+*; & /9& .-(:(@2 .*62A 5(02<1&3'&

!NG



IG# b*:( *602'/&:1*./

*602'/& J-29&*1&42> 6&6+&*/2'2> -9*./*9&02 5( .(./(1'2> .-*9/.'& /2921&> <23&0& :9/&@> '(M(1(> 6296291&4(L , :9+* *.'=<1( *-92;( J./(1<(9<1( , 1( -9# T/*12/T &+& 7*+( .&0(+&4(L> :&<1&&1./(+(4&*1& :*<*:&> 32+&31& -9*5*9&> ### J21/29&029 /&-&3(1 5( T1*:= *602'/&:1*./TB 8+(<(1 &*7*+021> (+& M(.4&1(1/(1L"# 0*) Z.A1* 1(3.+0. 2 c.+.29 M(1*7./

<# O*-.1N./@ 1(3.+0.9 m(3.+

L 5/13- T(0 P5/13- T(QR, !N"G# -*./(02 r9(<.'& .(:2/1&' 5( (98&/2'/=9= = ]9(1'M=9/=A 5( :92;2 1027*:2 =-9(:2J-*3&102 12:&P21( 79(<10( 9(<1&3'&8 ./(1*:(L .(79(P21* 02 !GHHH ./(1*:(A ?(0 -9&-92;(6.1./(+1& 2/N(1&3-&H'& B+(1> '*0& .-9*:*<& 1( .+2<2@&; 1&:*&;( J?(0 &1.&./&9( 1( 2M&'(.1*0 &2'*1*;&31*0 79(<10& , *602'/&:(1 -9&./=- =.+*:+021 92(+1&; 79(P2:&1.'&; /9*)'*:&;(> :*<&*

02 M*9;=+&.(10= 3-(1A(/A( C>&7*-1*@ ,&1&,2,(C )/* @2 6&/& .-*91( /2;( 1( .(./(1'=fVS?,( = ]91'M=9/= !N"N# 7*<&12> ( '(* .=-9*/1*./ X2 i*96&502*:*; 5(8/2:= K&:*/1*7;('.&;=;(A ?(02:& ./(1<(9<& ;&1&;=;( 5(.1&:(+& .= .2 1( :2)/* =79(P21&; *9;(1&;(>.'+*-+021&; '92:2/&;(> -9('/&31*; '=8&10*; 1(+&' 1( +(6*9(/*9&0=LB

, '=-*:&1( /2921(, 9(59(<( -+(1( , -+(1*:& 1(.2+0( , G&[email protected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j*7& U/(1'e2/-C '*0( -9(/& ('/&:1*./& = ]9(1'M=9/=> (+& &)&92> & /* 12 .(;* = 79(<&/2+0.'*0 .M29&> :2@ =*-)/2 = '=+/=9&!# j(3.+0( CW&[email protected], j(3.+0. ?/2F7.+A)-/(3.9 ![";# ,F -9*./9(1* <:*9&)/2 *&:&321* 579(<(;( = 4&' , 4('9(.-*92<=, m*,B+.'3 A*+&1. j&A.9 ![";#L<^# ,F 0(:1& -(9' *'9=K21 1(.2+0&;( J= 12'&;( 02 '*9&./&*;*1/(K12> -(12+12 '*1./9='4&02> /5:# T.&./2; ?(0TL , <2+&;&31* 92(+&5*:(1&, j(3.+0. O.,./)-(- ,F K&:*-&.1( *97(1&5(4&0( -* =5*9= 1( S1:&1( & /9(<&4&*1(+1* 12;(3'*.2+*A 579(<2 & 1&.'2 '=@2 = 1&5*:&;(A /2K& .2 9(51*:9.1*./&, j(3.+0. D.3-F(2G.1 ,F .&./2;(/.'(> 9(4&*1(+&./&3'( *97(1&5(4&0( '*0( 1(0(:+0=02 g-&13'2B*7.+02A 579(<2 & 02<1*.-9(/1& 1&5*:&> 625 ;1*7* :252 .( /9(<&4&*1(+1&; 6+*'*;A

9(51*:9.1*./ 12 -*./*0&"# j(3.+0. M.+./F*e9 !["[# ,F 79(<& 7( T(/- W-(, ,F 9(<&'(+1( -9*;291( *<1*.( 579(<( ,/2921A ='&<( .2 9(5+&3&/*./ 579(<(> 579(<( -*./(02 125(:&.1( *< /2921(> 421/(+1& -9*./*9 6+*'(:&)2 12 -*./*0&

L D(+-./ 6/*B&023 ,F :&<& -*.261*!# m*,B+.'3 ?(2F(23L( 2 =.3(29 !["S# ,F Y(=8(=. '*;-+2'.B (.&;2/9&31& 2+2;21/&"# j(3.+0. b*./-.19 ![":# ,F ./(1<(9<&5*:(1& ;*1/(K1& 2+2;21/& & ;*1/(K1( +&12(91( 79(<10(

-*;*@= <&5(+&42, &+=./9=0= -9&8:(/(102 1(32+( T1*:2 *602'/&:1*./&TA 1(0<*.+2<1&02 <2+* = *:*; ;(1&9= 02 &-('<# `/*0.'(- G( b*-(+1* B*G*/&)-. 5/7&1( `&3'(-*/(9 !["X#

, '9(02; "H,/&8 r9*-&0=. 02 .:2 :&)2 5(*'=-+021 ./(;621*; 79(<10*; & -*6*+0)(102;./(;621*7 ./(1<(9<(A +2:* *9021/&.(1

!NQ



IG# b*:( *602'/&:1*./

, !N"N# <*+(5& <* 2'*1*;.'2 '9&52 & <9K(:( 02 *-2/ '921=+( = 8(*.A 0(3(102; 1(4&5;(>(98&/2'/& '*0& .2 9='*:*<2 1(32+&;( T1*:2 *602'/&:1*./&T -9&1=P21& .= 1( 2;&79(4&0=A !NIH#T(0 & W-(, *<+(52 = \\\R J.( 79=-*; '*+27(L 7<2 79(<2 79(< T(@1&-*@*/3'& 1( l/(+2iT(0./ *<+(5& = ?*.':= '(* -92<(:(3A !NII# 6/*B&023 & ?/*0./ PT(/3.+ ?/*0./R *<+(52 =_17+2.'=> ( 5(/&; = S;29&'=

!NE



IQ# \*:02/.'& 2'.-29&;21/& = (98&/2'/=9& & =96(1&5;=> !N!C#,I"#

<S# W*70.-3'& .'3B./&,.1-& 2 (/F&-.'-2/& & 2/N(1&G,29 ![!:#L<"#

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gN/(,K.7* '*<?*.':2 & *6=8:(/( -9('/&31* .:2 79=-2 =;2/1*./&> ( 1(9*3&/* -*5*9&)1= <2+(/1*./ JCB/&7(-1(*B./(C , -*5*9&)1& 3&1 .2 .8:(/( '(* &1/279(+1* =;2/1&3'* <2+* , .&1/25( =;2/1*./&L, JJ B./&*A !:[^# L ![^;# *62+2K21 02 <2+*:(102; B*'/.-( CW7.- 2,.-1*3-&C J-(9(+2+1*7 S9/

b*=:2(=L> 3&0& 3+(1*:& 1(./*02 <( R=.&0= /9(1.M*9;&)= = ;2P=1(9*<1* 51(3(0(1 =;2/1&3'&421/(9A -9*/&:2@& .2 1(9*<10()/:=> *1& 0(3(0= :252 .( _:9*-*;A <2+=0=@& = 9(51&; 79=-(;(=;2/1*./&> '92@= .2 = *':&9&;( .&;6*+&5;( & S9/ b*=:2(= J1(9*3&/* 02 :(K1( -*5*9&)1(

<2+(/1*./ , N(+.- , *./:(921& &<2(+ T=.(:9)21*7 -*./*0(10(T> '(* & &5+*K62 &5 &./*9&02 9=.'2=;2/1*./&L, JJJ B./&*A ![^;#L^[# *62+2K21 02 <2+*:(102; @/2B. C`+(7( /2>(C> = '*0*0 02 *'=-+021(<9=7( 72129(4&0( .&;6*+&./&3'&8 .+&'(9(> '(* & 10&8*:&; +&3-*, Cf+(-1* /21*CA = *97(1&5(4&0&*:*7 3(.*-&.( *97(1&5*:(12 .= :(K12 &5+*K62 1( '*0&;( .2 9=.'( 0(:1*./ =-*51(02 .( <2+&;(M9(14=.'&8 -*./&;-92.&*1&./( & M*:&./(, JD B./&*A ,F 5(8:(+0=0=@& *:&; K&:&; '*1/('/&;(> O23&0( ![^[#L!!# -*./(02 ./24&)/21(0(:(17(9<1&0&8 2:9*-.'&8 =;2/1&'( & -*'92/( J-(9&.'& '=6&5(;> 3+(1*:& 6=<=@27;&1821.'*7 Ta+(:*7 0(8(3(T> M=/=9&5(;LA .2; *:&8 =/&4(0(> 1( 9=.'2 =;2/1&'2 .1(K1* =/&32 &/9(<&4&0( 1(9*<1*7 ./:(9(+()/:( J1(9*3&/* .2+0(3'& <9:*925L> '(* & 9=.'& &'*1*-&.> '*0& .(.:*0*; 3&/*/*; 6*0( & +&1&0( -*1*:* &5+(5& 1( :&<2+*A 1(0:(K1&0( +&31*./ /23'*@ C'2N*L

e2-2/&G,(C> '*0& .2 <&M29214&9( = /* :92;2 '(* -*'92/ '*02 *602<&10=02 .:2 *:2 =/&4(02> 02T&F(&+ E(/&*1*7A -*92< 1027(> /= 02 & j(-(+&0( 6*1H(/*7( J.( X(9&*1*:&; 6&+( 3+(1 Ta+(:29=K2TL> '(* &> *A ![!!# m(G&,&/ T(+0.7&H & D+(A&,&/ b(-+0&1A = &./* :92;2> :2+&'& 69*0 9=.'&8=;2/1&'( K&:& & 9(<& = 2:9*-.'&; 421/9&;(> -*.261* = ?&1821= Pm(1A&13'&R

, ,*A./1& B*'/.- 2 /23'*0 +&'*71*0 2,.-1*3-&9 ![!"#L!X#4, -9:( ;(1&M2./(4&0( .(;*./(+1*./& ;*<2912 9=.'2 =;2/1*./& J& 9(.'&<( .( ?&1821*; &a(9&5*;L 02 &5+*K6( 1*:**.1*:(12 @/2B. CT(@(/.\& /.BC9 ![!"# 2 T*3'7&A &5+*K6( -* -9:&

-=/ *'=-+0( E(/&*1*7(9 6*1H(/*729 T(+0.7&H( & b(-+0&1( J1( &5+*K6& .= *< 51(3(01&8 -9&.=/1& 0*) n(-(+ & `&/*3,(1()7&+&

L m(G&,&/ T(+0.7&H9 !:X:# L ![<;# ,F =7+(:1*; .(;**69(5*:(1 J12'* :92;2 ./=<&9(* =i&02:=LA 9(5:*0 5(-*3&102 .+&'(;( = ./&+= X(9&*1*:( & r*13(9*:2A =695* .+&'2 -*./(0= ;1*7*(-./9('/1&02 = .;&.+= 6*0( & *6+&'( , G/.+( e(G( '2N*Le2-2/&G,(A -*< =/&4(02; a&'(.( & Y9('(>?(+02:&3 !N!I# 1(-=)/( '=6*,M=/=9&5(; =:*<2@& = .:*02 .+&'2 1&5 92(+&./&3'&8> 1(*'*12-*:25(1&8 2+2;21(/(> /&-*9(M&0= & .+&31* , *:* 02 e(G( CG(2,1*@ /.(+&G,(C , +&'*:1*/=;(32102 .(:92;21&8 &<20( 1( -*+0= -*25&02A '*1(31*> ?(+02:&3 ./&K2 & <* 32B/.,(-&G,(,9(<2@& <2'*9 J'*./&;2 & .421*79(M&0=L 5( *B./2 C`*N.A( 1(A W21K.,C J-9:& -=/ 02 1(.421.'*0 5(:2.& =9(<&* K/1& '7(A/(- '*0& @2 -*./(/& ,*-&79 &'*1( 32B/.,(-&G,(L 12'2 *<.421.'&8 -*5(<&1( *1 9(<& = -*/-=1* (-./9('/1*; <=8= , .(<9K2 .(;* 491& &+& 62+& ':(<9(/AC32B/.,(K&0*, H&3-. 3.1G(K&0. 2 2,.-1*3-&C ?(+02:&3 02 -*32* <( .2 6(:& !N!I# J491& '9=7>491& ':(<9(/> 491& '9./LA /*'*; 7*<&1(> ?(+02:&3 9(5:&0( 9(51*:9.12 (-./9('12 .=-92;(/&312

'*;-*5&4&02> =:*<2@& <9=72 M*9;2> 6*02> ;2P=.*612 -*+*K(02A ![!;# ?(+02:&3 '*1(31* -*3&102 <( 2'.-29&;21/&)2 .( &<2(+&5*:(1&; (98&/2'/*1.'&; 49/2K&;( = ('.*1*;2/9&0&> '*02

!NC



IQ# \*:02/.'& 2'.-29&;21/& = (98&/2'/=9& & =96(1&5;=> !N!C#,I"#

1(5&:( CB+(1&-&C P'(31&0. C(/F&-.'-*1&CRA /*'*; & -*.+2 92:*+=4&02 ?(+02:&3 .(.:&; 1(-=)/(.+&'(9./:* & -*.:2@=02 .2 &./9(K&:(10= -9*./*9(> -9(:2@& ;*<2+2 T(98&/2'/*1(T

L D+(A&,&/ b(-+0&19 !::;# L ![;<# ,F &./95(1* .2 *69(5*:(*> 9(<2@& -(9(+2+1* J32./* '(*;*91(9LA -9:2 .+&'2 & -*5*9&)12 .421*79(M&02 *<+&'=0= .2 '*9&)@2102; 5('9&:+021&8 -*:9)&1(>

=-*/926*; 6*02 1(+&' &'*1*-&.=A q(/+0&1 .2 :2*;( &1/292.*:(* J& -*92< *)/9*7 .=-(91&)/:(L 5(./:(9(+()/:* ?(+02:&3(> 1* *1 *< .;*7 -*32/'( -*'(5=02 02<1= -9*./*91&0= *9021/(4&0=A #q(/+0&1 '(* ;=5&'(1/ *<+(5& = Y29+&1> ( -*/*; = a(9&5> =-*51(:&)& .2 /*; -9&+&'*; .( <2+*;a&'(.(A *<;(8 -* -*:9(/'= -9&*1=* 02 1( &59(<= .:*0&8 -9:&8 T'*1./9='4&0(T> 7<2 *1 &./9(K=02

-9*./*91= '**9<&1(4&0= (-./9('/1&8 2+2;21(/(> *<1*.2 6*0( & ;(/29&0(+( = -9*./*9=A ;1*7& *</&8 C/.+0.e(C .= =7(*1&> '('* 6& .2 &5627(* T*':&9T &+& T-*5(<&1(T> '*0& .= 5( q(/+0&1( .&;6*+*<:(0(10( =;2/1*./& *< 92(+1*7 K&:*/(A *:&; 9(<*:&;(> 7<2 ='9)/( 9(:1&> '*9&./& -9*<*92>*6=8:(/(10(> 72*;2/9&0.'& <&1(;&5(;> *1 =.-*./(:+0( /2;2+0 .:*7 .&./2;( *6+&'*:(10( ,C2,.-1*3- 0. /(A 1( *N+&'*7(102 ,(-./&0(+(C, !N!I# '=6*,M=/=9&./&3'& '9=7 .2 -*+('* 9(.-(<(A &-('> <*+(52@& 9(/ <*-9&1*.& *'=-+0(10==;2/1&'( = R=.&0& , = 52;+0= .2 :9(@(0= E02N*7 `*B*7(9 n(@(+9 5+ E&3&K'& J.( S98&/2'/*1.'*7

M('=+/2/( = Z(9;)/(/=L9 m(1A&13'&A = +&'*:1&; -*./(:'(;( m(,./1*@ -.(-/( b('/*7(*-(K( .2 -*./2-21 -*;(' *< M=/=9&5;( '( '*1./9='/&:&5;= J"H,/&8 7*<&1( *:* -*5*9&)/2 02

02<1* *< K(9&)/( '*1./9='/&:&./&3'2 2./2/&'2LA T(+0.G&1 -*.+2 &G+*>N. ![!;# ./&32 <*./(.+2<621&'(> .=-92;(/&5(; -*3&102 .1(K1* <( .2 )&9& J& :(1 79(1&4( .+&'(9./:(> 1( -9# 1( *6+(./

-9&;210212 79(M&'2LA 1( b(-+0&1*7*0 &G+*>N& CA2\(1C &G ![!S# -*0(:+0=02 .2 02<1( *<1(0:(K1&0&8 M&7=9( '*1./9='/&:&5;( , g+.'3(1A(/ O*AH.1'*A R*<321'* =.:(0( & *< ?(+02:&3(& *< q(/+0&1(> -92+(52@& *< -*:9)&1.'&8 .:2 :&)2 1( -9*./*912 '*;-*5&4&02, m(e. `&-*/.3'9 T*3'7(9 ![!X# ,F 2/.p202 b(-+0&19 O*AH.1'* & A/2@& =;2/1&4&A -9*./*9 02&.-=1021 10&8*:&; <&1(;&31&; '*;-*5&4&0(;( *< <9:2/(> ;2/(+( & '(9/*1( JT1*;(<.'&T

-*;&3(1 & <2;*1/(K1& 1(,.)-(0 +('&8 '*1./9='4&0(L> '*02 .(.:&; &5='9)/(1&; -*:9)&;(>'=+(;(> )&-'(;(> -*/-=1* 9(56&0(0= -9*./*9 J*:& '*;(<& 1(,.)-(0( J1( -9# ./*+&42L 6&+& .=.+&31& '92(4&0(;( ?&. :(1 <29 R*2(> X2 i*96&502(> ?# \/(;(> [(12.( ?(029(

, A*@(p(0& 2 2,.-1*3-& -*'*, /.7*+2K&0. & @/(p(13'*@ /(-(4, 92:*+=4&0( -9*'+(;=02 '*+2'/&:1& 1(3&1 K&:*/( & &1<=./9&0(+&5(4&0=A (:(17(9<1& =;2/1&4& /=.262> '*1(31*> :&<2 '(* &1/279&.(12 3+(1*:2 <9=)/:( '*0& ;*7= =/&4(/& 1( &579(<10= 1*:*7.:2/(A /('* *1& = .:*02 9='2 =5&;(0= 92*97(1&5(4&0= '=+/=91*7 K&:*/( 52;+02> & 1(-=)/(0=@&)/(M2+(02 '92@= = -9*-(7(1<1= ('/&:1*./ -* =+&4(;(> /9(;:(0=;(> M(69&'(;(> ###, :2*;( :(K1= =+*7= = *97(1&5*:(10= /2 =;2/1&3'2 -9*-(7(1<12 ('/&:1*./& &;(+( 02*/@(1&G(K&0( `/*+.-'2+-> '*0= 02 :*<&* g+.'3(1A(/ T(+&1*73'&L?*@A(1*7A *1 02 5(./=-(*/25= <( .2 92:*+=4&*1(91&> -92*69(K(0 ;*K2 *./:(9&/& 2'*1*;.'&;> -*+&/&3'&; &

92:*+=4&*1(91&; -=/2; J56*7 327( '(.1&02 <*+(5& = .='*6 .( X210&1*;LA 4&+0 -*'92/( 02 6&**K&:+0(:(102 '=+/=92 02<&1./:*; 1(='2> &1<=./9&02 & =;2/1*./&A &59(5&/* 1*;(<.'& <=8 -*'92/(92M+2'/=02 .2 3(' & 1( *6+&'*:(102 +(7(1*7 .'+*-&:*7 1(,.)-(0( J-9*<='/&:&./&3'*7L b(-+0&1( &O*AH.1'( J'(.1&02 .= /= /2;= 9(59(P&:(+& .'*9* .:& ;*<291& (98&/2'/& , 1( B/# ?/*0./R, = /* :92;2 -*'92@2 .2 &1&4&0(/&:( 5( ./:(9(102; 1*:*7 .&./2;( *69(5*:(10( = =;2/1*./&>(98&/2'/=9& & <&5(01=A /('* 02 = T*3'7& *31*7(1 DMlb5TgW P7&). 2,.-1&H'* L -.F1&H'./(A&*1&K.R> *69(5*:1( &1./&/=4&0( = '*0*0 .= '+(.2 &;(+& .'*9* .:& 51(3(01&0& =;2/1&4&A -9*79(;9(<( 02> & -*92< 92+(/&:12 (=/*1*;&02> <&'/&9(* JjMlm PJ13-&-2- 2,.-1&H'. '2+-2/.9 *31*7(1!["^#R9 A/>(71& */@(1 '*0& .2 6(:&* /2*9&0*; '*;=1&./&3'2 =;2/1*./&A *:2 &1./&/=4&02 -*./(+2.= -+(/M*9;( .='*6( <:2 *.1*:12 -*5&4&02B &A.(+&3-&H'. J'*0= -92<:*<2 T(+0.7&H &m(1A&13'&R & 2-&+&-(/&3-&H'. J'*0= -92<:*<2 b(-+0&1 & O*AH.1'*Ri B/7& B/*@/(, JjMlmL(

.(3&1&* 02 m(1A&13'&> *6=8:(/&:)& ?(+02:&32: .=-92;(/&5(;> q(/+0&1*:= T'=+/=9= ;(/29&0(+(T &/2*9&02 .(;*7 i(1<&1.'*7A 1* =-9(:* .= &<202 i(1<&1.'*7 * =;2/1*./& '(* &1/=&/&:1*;>

!NN



IQ# \*:02/.'& 2'.-29&;21/& = (98&/2'/=9& & =96(1&5;=> !N!C#,I"#

-.&8&3'*; -9*42.= J'*02 @2 *1 -+(.&9(/& & = Y(=8(=.,=L 6&+2 12-9&8:(/+0&:2 5( 9(4&*1(+&./&3'&*9021/&.(1= :2@&1=A i(1<&1.'& 56*7 /*7( *<./=-(> ( *./(+& .2 <2+2 = A7. @/2B.i 0.A12 H&1.C+(N*/(-*/&03'& 2,.-1&K&C9 ( A/2@2 CB/*A2'-&7&3-&H'& 2,.-1&K&CA /( -*<2+( 02 '=+;&1&9(+(!N"!#, T(+0.7&H ![![# *31&7( l1*G&3 P)'*+2 1*7. 2,.-1*3-&R9 D&-.N3' 1( '*0*0 -9*'+(;=02 1(32+(

.=-92;(/&5;(A /= 5+ E&3&K'& -9:& -=/ <*+(5& = '*1/('/ .( ?(+02:&32;> -*./2-21* =.:(0(0=@&1027*: .=-92;(/&5(; J?(+02:&32: -2<(7*)'& .&/2; .(69(1 02 !N"E# = Y(=8(=.,*:*; &5<(10= ='10&G& Cj.B/.A,.-1& 37.-CL, 2 T*3'7& /('* B/&,(- B/.2G&,(02 CB/*A2'-&7&3-&C> -*< :*P./:*; b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

;*<2912 -9*&5:*<102 , 21297&0= =.;29(:( 1( '*9&./ -9*+2/(9&0(/(, 51(3(0(1 -*'=)(0 .&1/252 *:&8 /*'*:( 02 9(< 5+ E&3&K'*@ 1( /5:# C`/*21&,(C *A ![![#>'*0&;( *1 1(./*0& <( .+&'(9./:* -92/*-& = (98&/2'/=9=A 1027*:( +&31*./ 02 & 1(0:(K1&0( = -*7+2<==-*51(:(10( s(-(<( .( 56&:(10&;( = R=.&0& J*< !N"!# , b2;(3'(> [*+(1<&0(> u:(04(9.'(> ###L

, '*13-/2'-&7&G(, ,F =*-)/2 * ;*<291*0 (98&/2'/=9&B !NHH# , !NDH# ,F /92@& 51(3(0(1 <(/=; lT829*0.'& -29&*<T ;*<2912A 1*:& -*'92/&B '*1./9='/&:&5(;> '=6&5(;> M=1'4&*1(+&5(;A.+*6*<1( *.1*:( & .+*6*<1( M(.(<( , 5(8:(+0=0=@& 62/*1= & 1*:&; ;(/29&0(+&;(A = ;*<291*0(98&/2'/=9& , .*4&0(+1& M('/*9 02 :9+* 6&/(1A ./(;621& -9*6+2;&, '*13-/2'-&7&G(, '(* =;2/1&3'( ./9(/27&0( -92<./(:+0( 1(./(:(' B/*A2'-&7&G,( , *1 025(*'=-+021 =.-*./(:+0(102; -9('/&31*7 ;*./( &5;2P= =;2/1*./& & &1<=./9&02A '(* -*0(;

-9*:+(3& .2 *< !["!#i ![""#r"<# -*0(:+0=0= .2 ,(1&e.3-& '*13-/2'-&7&G,(A *< !N"!#k""#<2+(/1*./ '*1./9='/&:&./( /2.1* 02 -*:25(1( .( `/*+.-'2+-L*,> '*0& &; 02 :25(;( = &1<=./9&0&J./(6&+&5*:(1*0 =.+2< b_a,( J1*:( 2'*1*;.'( -*+&/&'(LL *62562P&:(* 92<*:(1 -*.(*, .*:02/.'& '*1./9='/&:&5(; , (:(17(9<1& -29&*<A -9&8:(@21 025&' ;*<2912 = R=.&0& JX2i*96&502 02 -*+(7(* 1(<2 = 9=.'& '*1./9='/&:&5(;L, '*1./9='/&:&5(;> ;()&12> M=1'4&0( ,F *.1*: (98&/2'/=92 , 9=.'& <*7;(/&5(;A 5(1*. :92;21(, 1(0:2@& 69*0 (98&/2'/*1&31&8 '*1./9='/&:&./&3'&8 '*;-*5&4&0( *./:(921 02 = B*G*/&)-2 PN/(\(D.31&1&9 E02N*7 `*B*7( & A/2@&RA '('* .= &<202 '*1./9='/&:&./( = .:*0*0 .:2*6=8:(/1*./&

-9&9*<1* :*<&+2 (98&/2'/=9&> :9+* ;(+* /*7( 02 .( 8(9/&02 -92)+* = 92(+1*./> 56*7 /2)'&8 -9&+&'( =52;+0&

, !["<# *31*7(1( 0. @/2B( gWj8Dg P(3*K&0(K&0( 1*7&F (/F&-.'(-(9 *31&7(H E(A*73'&> -9*-(7&9( 9&/;&31& M*9(;+&5(; & -2942-/&:1= 2./2/&'=L> /* .= 6&+& (98&/2'/& *'* DMlb5TgWL(A=<9=K2102 &;( .1(K(1 =/&4(0> -( ;= .2 !N"G# -9&<9=K=0= 5+ E&3&K'& & m*13-(1-&1 T.+01&'*7J1027*:& -9*<='/&:&./&3'& 9(1& 9(<*:& .= -*<&71=/& = <*6( 92+(/&:12 2'*1*;.'2 ./(6&+1*./&Jb_a , 1*:( 2'*1*;.'( -*+&/&'(L> X210&1*:( -*+&/&'( &5 !N"!# '*0( 02 /926(+( -9&:=@& ./9(1&'(-&/(+> & '*0( .2 7(.& !N"D# X210&1*:*; .;9@=L, 79=-( S\bpWS> /2K&+( 02 12 .(;* 1(=31*0 2./2/&4&> :2@ & -9*1(+(K210= 1*:&8 79(P2:&1.'&8*6+&'( '*0& 6& 5(<*:*+0(:(+& & &59(K(:(+& ./(/=. 1*:2 .*4&0(+&./&3'2 <9K(:2!# m&*3K&4 T.+01&'*79 E(7&13'&9 6*+*3*79 5'3.-./ & A/2@&"# `(7&+0*1 WWWOL(9 JG+*>N( A.'*/(-&71&F 2,.-1*3-& 2 `(/&G29 ![";#9 T.+01&'*7A

-9(:*=7(*1( *.1*:( <&0(7*1(+1* -*<2+021( ./2-21&)/2; 1( <:( 02<1('( /9=7+( J*/:*921(

<9:21( '*1./9='4&0( , <&1(;&31(> &.-92.24(1 '9*:L

"HH



IQ# \*:02/.'& 2'.-29&;21/& = (98&/2'/=9& & =96(1&5;=> !N!C#,I"#

<# @/2B( 0. G(*'2B+0.1( & /(A1&H'&, '+2N*7&,( & *N0.'-&,( G( /.'/.(K&02 '*0& .= .8:(/(1&'(* CA/2)-7.1& '*1A.1G(-*/&CA -9*02'/2 '+=6*:( 1(9*3&/* =.-2)1* 9(<2 T.+01&'*79 6*+*3*7& O*AH.1'* J2 .1-./&0./2 /(A1&H'*@ '+2N( .;2)/( <&0(+2'/&3'= 49:21* , 491= 7(91&/=9= 5()(8 '*0( .2 .(./*0(+( *< ./*+( & <:2 ./*+&42L]# 5+ E&3&K'& J-*'=)(:( ./:*9&/& .*4&0(+&./&3'& *6+&' (;29&3'*7 126*<29(LB B/*0.'(-

*N+('*A./( &GA&@12-*@ 1( B/*B&+.0. P-G7# CD.)(+&K( G( *N+('.CR '*0& .2 */:(9(0= '( 6=+2:(9= '*0& *'9=K=02 421/(9 ?*.':2A *:(0 9(<> 6&* 02 5(;&)+021 '(* '9&/&3'( (1/&/25('(-&/(+&./&3'*; 126*<29=> ( =02<1* & '(* '+(.&31( W9(/( 79(<(

L b(-+0&14 `/*0.'(- 3B*,.1&'( 7&3*'*@ 7&). *A ]^^ , B*37.\.1*@ -/.\*0 &1-./1(K&*1(+& =*6+&'= <:2 &.-92-+2/(12 92)2/'(./2 .-&9(+2> =1=/(9 '*0&8 .= /926(+2 +26<2/& 32/&9& :2+&'( -9*:&<1(:*+=;21( '*0& .= 9*/&9(+& -*02<&1(31* .:2 :2@*; 695&1*; , 02<1*; = 7*<&1&> ;2.24=> <(1= &.(/= J1(;21021&B 5('*1*<(:./:=> =-9(:&> &1M*9;(4&0(;( & M&+;.'&; -9*02'4&0(;(L . 02<12./9(12 .-*;21&' /*9(10 02 6&* .-*;21&' =./9*0./:= <9K(:2> ( .( <9=72 -92<./(:+0(* -9&;29

-9*<='/&:&./&3'* , '*1./9='/&:&./&3'*7 -9*79(;(A q(/+0&1*: /*9(10 02 -92/23( <:2 /21<214&029=.'2 (:(17(9<12 (98&/2'/=92B !# )'*+2 S\bpWS & "# )'*+2 p\S

, *<+(.'*; J.;9@=L X210&1*:2 8(9&5;(/.'2 +&31*./&> 5(:9)21* 02 829*0.'* <*6( 92:*+=4&02> &.:2 02 ='(5&:(+* 1( 1*:2 .='*62> ( 12 1( 92)(:(102 -9*6+2;( , 6*96( 5( :+(./ =1=/(9 a(9/&02>;*<291&5(4&0( -9&:92<2> 6*96( -9*/&: 12-&.;21*./&> .:('*<12:1( 6*96( 5( *-./(1('> /2K10( 5(2+2'/9&M&'(4&0*;> =.-*./(:+0(102 3:9./2 :252 &5;2P= =96(1*7 -9*+2/(9&0(/( & M2=<(+1*7.2+0()/:(A -(9/&0( 02 6&+( = 1257*<1*; -*+*K(0= & '(<( 02 /926(+( -9*1(@& *<7*:*9> ./&+ 5(X210&1*: ;(=5*+20> ( '*0& 6& *<7*:(9(* & 1027*:*0 +&31*./& & 92-92521/*:(* \*:02/.'& \(:25J-9*<='/&:&5(; 02 5(<*:*+0(:(* .(;* *:* <9=7*> ( '+(.&4&5(; 02 6&* 1257*<(1 56*7&<2*+*)'&8 '*1*/(4&0(L

, !["S# *31*7(1( 0. @/2B( 8Wg P*/@(1&G(K&0( 3(7/.,.1&F (/F&-.'(-(R -*< 7*p3-7*,T*03.0( 6&1GN2/@( J-9(7;(/&31&0( *< 79=-2 S\bpWSLA 79=-( .2 &1/292.=02 1(0:&)2 5(.*4&0*+*)'2 (.-2'/2 (98&/2'/=92 J029 B(/-&0( '(K2 <( 02 ./(1*:(102 T1(0:(K1&0& -9*6+2;;(/29&0(+21 275&./214&02 9(<1&'(TL , &579(<10= ./(1*:( & /*;2 .+&31*A 79=-& .2 -9&<9=K=0= &3+(1*:& &5 *6+(./& .*4&*+*)'&8 & /281&3'&8 <&.4&-+&1(A -*'92@2 .2 H(3*B&3 CW(7/.,.1((/F&-.'-2/(C -*.:2@21 =:*P210= 1(=31&8 ;2/*<( = (98&/2'/*1.'= -9('.= J8Wg 1&02

-9&8:(/&+( 1& -9*<='/&:&5(; a9*+2/'=+/,(> 1&/& -242-/&:1= 2./2/&'= X(<*:.'*7L, !N"E# p\S .-9*:*<& '*1'=9. 3&0& 02 4&+0 6&* =.(:9)(:(102 ./(;621*7 B/*-*-&B( 2'*+.'-&71*, 3-(1*7(102 JTZ*;'*;=1(TLA ;1*7& 9(<*:& *-29&)= .( <=-+2'. ./(1*:&;( &'*9&<*9&;( JE. m*/N&G0. L D&++. O(A&.23.RA *:2 ('/&:1*./& 925=+/&9(0= /&;2 <( r&156=97<*6&0( 5(<(/(' <( 9(<& 1( ./(1<(9<&5(4&0& ./(1*:(, !N"C# p\S -*3&102 <( .2 6(:& /(A1&H'&, '2+2N*7&,( J'(* :&< T<9=)/:21*7

'*1<215(/*9(TLA E.*1&A*7 &59(P=02 3./&02 B/*0.'(-( 6&/1* <9=7(3&0&8 *< S\bpWS,&1&8>*9021/&.(1&8 :&)2 1( .-*9/.'* , *69(5*:1= <2+(/1*./ 127* 1( -*5*9&)/2A .:*02 &<202 :25(12 5('+=6*:2 *1 9(5:&0( <* 2'./92;( = 2-*B&03'*, B/*0.'-2 C`(+(-. '2+-2/.C &G ![<^# ,;27(./9='/=9( J*./('+0212 <:*9(12> -+(12/(9&0=;> +(*6*9(/*9&02> 5&;.'& :9/*:&L> /281&4&5(;>

-9*./*91( 1*.2@( ./9='/=9( , (1/&4&-(4&0( U2+./*7&F '=-*+( J-9*,./(+0&1&./& 127(/&:1* 92(7=0=1( -9*02'(/ 56*7 &.-9(51*7 &<2(+&5;( & =/*-&02L, B+(1./ 8'&-*7&H 1( *.1*:= -92<:&P212 2+2'/9&M&'(4&02 -92<+(K2 T<25=96(1&5(4&0=T '(* +2'

-9*/&: 7=6&/'( K&:*/1*7 -9*./*9( = 9(<1&3'&; '*;=1(;(A .+&312 -92<+*72 &51*.& & T&+02-&1A&-(' 6&+* 02 /2)'* ./:*9&/& -9&8:(/+0&: 2'*1*;.'& -9*79(; 5( *:(':= &<20=, 6&1GN2/@ & ?(/)H -92<+(K= B+(1 G( G.+.1* B/*)&/.10. T*3'7. ,F /9('(./* 1(.2+02 .(./(;621*; T'&3;*;T J1( 3&0&; .= '9(02:&;( '*;=1(+1& *602'/&L & -9(/2@&; .(<9K(0&;(

J.-*9/.'& /2921&> 6(521&L = 52+21*; *'9=K210=

"H!



IQ# \*:02/.'& 2'.-29&;21/& = (98&/2'/=9& & =96(1&5;=> !N!C#,I"#

, E&1.(/1& @/(A L T&+02-&19 ![<^# J1(0(-./9('/&1&0& & /2*92/.'& 1(0<*.+2<1&0& -9*02'(/L = Q /9('(, 5*1( JK2+251&4(> &1<=./9&0( h *69(5*:(102> 52+21( 5*1( .( (=/*-=/2;> ./(1*:(102 h'*;=1(+&02> -(9' h .-*9/> -*+0*-9&:92<1( 5*1(LA )2;( 02 = *.1*:& 6&*+*7&./&3'( J1( -9# '92/(102;(/29&0(+(L> -( ?&+0=/&1 <9K& <* 6() *:(':*7 9(.-*92<( 5*1(, .+&31& -92<+*5& 8WgL. 5( 79(< T(@1&-*@*/3' 1( l/(+2 .= *<6&021& '(* .=:&)2 (-./9('/1& J-(

:+(<( (17(K=02 &.'=.1&02 & -9(7;(/&31&02 +2:* *9021/&.(12 (98&/2'/2 b2;(3'2A -*.(* <*6&0(5/1.3- T(0R, -9*02'(/ E.*1&A*7( G( T(@1&-*@*/3' A -=/ <=7 I" '; -*:25=02 &1<=./9&0.'2 -*7*12 .(

-*+0*-9&:92<1*; '*;=1*; = =1=/9()10*./&, !NI"# ./(+0&1&./& -92'&<(0= J-(9(1*&<1( 4215=9(L <(+0& 9(5:*0 (:(17(9<12 =;2/1*./& &(98&/2'/=92> 029 1(9*< 1&02 ;*7(* = /&; *'*+1*./&;( -9&8:(/&/& )/* ;= 1=<& &1/2+&7214&0(>

-9*;*:&)=@& <9K(:1& 3-&+ L 3*K/.(+&G(,, 9=.'& '*1./9='/&:&5(; l 2'.-29&;21/ , :&.*'& &<2(+& ;*<291&5;(> (+& .2 *1& 12 -*./&K=, T(98&/2'/=9( 1( -(-&9=TA :25(B .*:02/.'( (98&/2'/=9( , Y(=8(=., .*:02/.'& '*1./9='/&:&5(;B 51(3(0 '*1./9='4&02A .+*K21& .'+*-*:& *< 02<1*./(:1&8 2+2;21(/(A;(/29&0(+&B 62/*1 h ./('+*A 2./2/&'( <*<(/1&8 2+2;21(/( J<&;10(4&> (1/212> &1./(+(4&02L

, -9*02'/& '*1./9='/&:&./(Bt W-(A&*1 G( WB(/-('&0(A2 L m*/).79 T*3'7&9 !["S#t f@/(A( `/(7A. L D.31&19 T*3'7(9 !["<#t `&0(K( P-/>1&K(R W2F(/.7 L T.+01&'*79 T*3'7(9 !["]#t D&3.\& /.3-*/(1 L W&,N&/H.79 ![""#L"<#

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IE# V1/291(4&*1(+1& ./&+

<X# J1-./1(K&*1(+1& 3-&+

, J1-./1(K&*1(+1& 3-&+ ,F 1&02 -*./(* =1&:295(+(1> (+& .2 *<+&'*:(* =1&:295(+1*)@= -9&./=-(>'*0& 02 -92/-*./(:+0(* /281&'= +('&8 ;(/29&0(+( & ./(1<(9<12 ;*<=+(912 2+2;21/2 & ;*1/(K1=79(<10=A /2K&* 02 M+2'.&6&+1*./&> -( 02 5(/* '*9&./&* -9:21./:21* .'2+2/1= '*1./9='4&0=> )/* 0212+(< 6&+* &1M*9;(+&./&3'& , /(;* 7<2 '+&;(/.'&> 2'*1*;.'&> '=+/=91& =.+*:& 1&.= *;*7=@(:(+&

-9&;21= +('&8 '*1./9='4&0( J-92/23( .= .= :&+2 X2 i*96&502( . '9(0( "H,/&8 7*<&1(A *:(0 ./&+ .21&02 6&/1* 9(5+&'*:(* *< '=6&./&3'*7 -9(:4( = (98&/2'/=9&L

, -./,&1 & G1(H.10.4, -9:& -=/ .2 -*0(:+0=02 = /2'./*:&;( M.1/&LO(3.+ M&H'*'(9 ![":#r"[#> <( 6& *51(3&*2/N(1&3&H'2 & 1.*B+(3-&H'2 .7/*B3'2 (/F&-.'-2/2 B*3+. !["^#, ![<"# */:*921( 02 CT.p21(/*A1( &G+*>N( ,*A./1. (/F&-.'-2/.C 2 1020*/)'*, T2G.02,*A./1. 2,.-1*3-&> '*0= 02 B/(-&+( '10&@( M# O# M&H'*'( & U&+&B( =>*13*1(CJ1-./1(K&*1(+1& 3-&+4 (/F&-.'-2/( B*3+. ![""#C

, 52;+02B %28*.+*:(@'(> _17+2.'(> ]&1.'(> ]9(14=.'(> [*+(1<&0(> V/(+&0(> u:2<.'(> c(-(1>c=K1( SM9&'(> Y9(5&+

, *A+&'. (/F&-.'-2/. C&1-./1(K&*1(+1*@ 3-&+(C -92;( '10&G& M&H'*'( & =>*13*1(4, J B/&1K&B4 (/F&-.'-2/( '(* 7*+2,.19 ( 1. '(* ,(3(, -9*&./&32 &5 3'+.-1. '*13-/2'K&0.A 5&<*:& &;(0= =+*7= -9279(<12 C*B1.C> 579(<( .2 -9(:&T'(* 69*< &+& '(* '&)*69(1TA -9*./*9 *6(:&0(0= 9(:12 & /(1'2 -*:9)&12A -*:9)&1( .2 1&7<2 12

-92'&<(> -( 1& 1( ;2./= */:*9( , -9*5*9& .2 .;2)/(0= = .-*+01= 9(:(1 5&<(A ;(/29&0(+ 5( -*:9)&1.'= *69(<= , ;(+/29 &+& '(;21( *6+*7( J'*0( .+*7*; &./&32 <( &;( *6+(K=@= M=1'4&0=LA -9*5*9.'& *':&9 , /(1'&> +(7(1&> ;2/(+1&, JJ B/&1K&B4 B/(7&+1*3-9 ( 1. 3&,.-/&0(

, -9*&./&32 &. B/(7&+1*3-& /&-,( 3'.+.-1. '*13-/2'K&0.A -9&9*<1& &59(5 M=1'4&02 = :2@&1& 579(<(12 925=+/&9( .&;2/9&0*;> /('* <( 02 4&+0 1( 9(4&*1(+(1 1(3&1 -9&+(7*<&/& M=1'4&0= -9(:&+1*./&'*1./9='4&02A *6+&'*:(102 , (1(+*71( .'9&:21*; '*1./9='/&:1*; .'2+2/= 02 ).,( B/*B*/K&0(> &= *.1*:& & = &57+2<=, JJJ B/&1K&B4 -.F1&H'( B./e.'K&0(9 ( 1. A.'*/(K&0(, -*.+2 "H 7*<&1(> [&3'*' *:(0 -9&14&- 5(;210=02 B/&1K&B*, 0(31* &G/(>.1. '*13-/2'K&0.>

6=<=@& <( 02 *91(;21/ ./:(9 ='=.(> ( 12 -9&14&-(A /('*P2 *<6(4=02 .'*9* -9&14&-&02+1*5(+(7(102 5( 9(:(1 '9*: '(* T-.2=<*M=1'4&*1(+&./&3'&T, 72*;2/9&0.'2 -9*02'4&02B, *.1*:(B .+*6*<(1 -+(1> '*0& -9*&./&32 &5 .'2+2/12 '*1./9='4&02> *;*7=@(:( *-/&;(+1*5(<*:*+02102 M=1'4&0(

, &57+2<B .=)/&1( *.1*:2> <('+2 &59(5 M=1'4&02> ;*9( .2 .8:(/&/& &5 .-*+01027 &57+2<( 579(<2, 1(.2+02B, -9&14&- -9(:&+1*./& 1(;2@2 *-)/& 92<> <*' 5(<*:*+02102 M=1'4&*1(+1&8 5(8/2:( *62562P=029(51*:9.1*./ & '(9('/29A '=+;&1(/&:1( /(3'( '*;-*5&4&02 .= <9=)/:212 579(<2> '*02 &;(0=.&;6*+&31= :92<1*./, (98&/2'/&B, X2 i*96&502> r9*-&0=.> ?&. :(1 <29 R*2> p=< & ;1*7& <9=7&

, *3-(+( 7(>1( C&,.1( & A.+(C4

L O&H(/A j*0-/( J2;&79(1/> S=./9&0(1(4L

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IE# V1/291(4&*1(+1& ./&+

(.&;2/9&31( '*;-*5&4&0(> .+*6*<(1 -+(1 ='(5=0= & 1( 1027*: .-*9/.'& 1(3&1 K&:*/(A -*+(5&)/2 ='*14&-&9(10= , R(0/"# n'*+( 1( *-7*/.1*,9 E*3 g1p.+.39 ![<]# ,F <&:1( '*1./9='4&0( , .'2+2/1(> <9:21( & 32+&31(<# `23-&103'( '2\( m(2e,(19 `(+, WB/&1@39 ![]S#L]X# ,F (;6&021/(+1& 82<*1&5(;> 92;2',<2+*

L O2A*+e n&1A+./ J2;&79(1/> u:(04(9(4L ,F '(* & b*0/9(A -*+(5&)/2 02 R(0/> (+& 12 .(;* =*6+&'*:1*;> :2@ & = (;6&021/(+1*; -*7+2<=!# E*7.+*7( '2\(9 j02B*/- ?&H9 Wg=9 ![";#L"S#, R&3(9< b*0/9( & R=<*+M u&1<+29 .= ./2'+( M*9;(+1* *69(5*:(102 = _:9*-&> ( =.(:9)(:(+& .2 '*<R(0/( '(* & S1/*1&1 R20;*1< J%28*,S;29&'(1(4L

L E2A7&' m&3.+( J%28L!# f@/(A( C?(-(C9 `/(@9 !["[# ,F 9*61( '=@( *6=@2> *.;*.-9(/1(> M(.(<( *< ./('+(

L ?./-*+A E2N.-'&1 J9=.'& 2;&79(1/L & 1027*:( @/2B( Cb.'-*1C

!# W-(,N.1& N+*' M(0B*&1- !9 E*1A*19 ![<;# ,F +*7&3'( *97(1&5(4&0( '*0= 217+2.'((98&/2'/=9( 1&02 <* /(<( &;(+(A M=1'4&*1(+1& & *6+&'*:1& .'+(<"# W-(,N.1& N+*' M(0B*&1- "9 E*1A*1 ,F :2@ <2+=02 ;(1&9&./&3'&B T[(0-*&1/ ! '(* <( ./*0& 1(

-9./&;( & )&9& '9&+(> <*' [(0-*&1/ " '(* <( .2<& 1( 5(<10&4& '(* Y=<(TA :&<& .2 <( -*3&102 -9&8:(/(/& .*:02/.'& .*4,92(+&5(;

L M*G. E2&3 W./- Ju-(1(4> +2:* *9021/&.(1L ,F 3+(1 )-(1.'*7 *79(1'( cJgTL( P6gb5OgWR!# nB(13'& B(7&+0*1 1( W7.-3'*0 &G+*>N& 2 `(/&G29 ![<X# ,F -9:& -=/ &5+*K21( a&'(.*:(r291&'(

L 83'(/ j&,(0./ JY9(5&+(4L!# j.*N&H1( */@(13'( '2\( J5( .262L9 6(7.0& P&G1(A O&0(R9 ![;<#L;]#"# ?/(G&+3'& B(7&+0*1 1( W7.-3'*0 &G+*>N& 2 j02 Z*/'29 ![<[# ,F '*142-/ X2 i*96&502*:*7.+*6*<1*7 -+(1( *:<2 02 &5<&71=/ 1( :&)& 1&:* M+=&<1*./& & -9*K&;(10(> *'* 275*/&31*7 :9/( ,;&'9*'*.;*. S;(5*1(<# m(G&1*9 `(,B2+(9 ![]"# ,F =9(:1*/2K21*./ & K&:*./ '*;-*5&4&02A -9*;21(<( -9*./*9( *<=+(51*7 <:*2/(K1*7 -92<:*90( <* 9(;-& '*02 :*<2 &79(3&4(;(> *< 2+&-/&31*7 8*<1&'( '(92./*9(1= <* -+2.1*7 -9*./*9(A +*7&31* '92/(102 .:&8B 7*./&0=> -*.+=72> &79(3(A ./9*7*./> (+&/2(/9(+1( (/;*.M29(A '*1/9(./ &5;2P= M(.(<2 = 79(:29/&1= & '(;21= & 275*/&31*7 21/29&029(A -*5(69(1& 8(5(9<1&8 &7(9(> 579(<( 02 -92/:*921( = ;=520]# ?/(G&+&0(9 3( E23&* m*3-*,9 ![;S#LS<# ,F *<;(8 -* *.1&:(10= -*<2+021( 1(B !# 6&9*'9(/.'*

, -*.+*:1& & "# T79(< .&9*/&102TA *9/*7*1(+1( ;92K(> *6+&' '9./( = *.1*:&A -*<2+021 79(<>5*1&9(1 = 32/:9/& -92;( '+(.1*0 ./9='/=9&A 1( q97= .= 579(<2 /9&0= :+(./&B .2'92/(9&0(/> .21(/ &.=<, '(.1&02 9(.'&<( .( .:*0&; 12M*9;(+1&; M=1'4&*1(+&5*; & M+=&<1&; *6+&4&;(> ./:(9( 3&./2*6+&'2> /0# -9&6+&K(:( .2 12*'+(.&31*0 /9(<&4&0&

L U&+&B =>*13*1!# 6+(3 F(239 j02 m(1(19 ![][#

, ]9(14=.'(BL ?.2A*&1 & E*A3

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IE# V1/291(4&*1(+1& ./&+

L E. m*/N&G0.!# m2\(9 B/*-*N/2-(+&3-&H'(9 T(-.39 ![<;# ,F 5&<*:& *< +*;+021*7 '(;21( & <9:21& '9*:

, [*+(1<&0(BL @/2B( 8`?8Y PF*+(1A3'& *@/(1(' cJgTL(R ,F 9(<*:&

, %28*.+*:(3'(BL 8-* 53+./!# =7*01( '2\(9 ?/1*9 !["S#L ?*F23+(7 M2'3!# JG+*>N.1& B(7&+0*19 ?/1*9 !["[#L E2A7&' m&3.+( J1(-&.(1*L

, \SZB ,F V1/291(4&*1(+1& ./&+ -9:& -9&;210=0= (=./9&0.'& & ):(04(9.'& &.2+021&4& J2;&79(1/&LL O&H(/A j*0-/( J1(-&.(1*LL O2A*+e n&1A+./ J1(-&.(1*L

, _17+2.'(B ,F V1/291(4&*1(+1& ./&+ 5(-*3&10= ./9(14& '(* & = \SZL 87.1 D&+&0(,3!# m*,B+.'3 e(/,(K.2-3'. &1A23-/&0. ?2-39 ?.3-*19 ![<"#A *1 1&02 6&* (98&/2'/( 1&/& 3+(1fVS?,(> :2@ &1K21029A (9;&9(1*,62/*1.'( .'2+2/1( '*1./9='4&0( *< -23=9'(./&8 ./=6*:( &./('+*A .'=+-/*9(+1& *6+&' 32/:*9*.-9(/1*7 5<(10(L `.-./ ?./.13!# m2\( j02 D.039 j*/-(,B-*19 !["S#L g,&0(3 m*1.+ J.( b*:*7 s2+(1<(L!# m2\( CF&@F (1A *7./C9 g,./)(,9 ![<^# ,F 5( (982*+*7(L ?./-*+A E2N.-'&1 J&5 R=.&02L ,F 1(051(3(01&0& & 1027*:( @/2B( Cb.'-*1C J1(-&.(1*LL @/2B( TgOW J79=-( 5( &./9(K&:(102 = ;*<291*0 (98&/2'/=9&L> 217+2.'& *79(1(' fVS?,(>*.1*:(1( !NI"#A .:*0&; 21/=5&0(5;*; 79=-( 02 -9&:='+(> = -*32/'=> (:(17(9<12 69&/(1.'2(98&/2'/2 J;2P= 10&;( & X=62/'&1(L> (+& 02 02<&1* 1021* :2@2 *./:(92102> *.&; JG+*>N. Cj*7((/F&-.'-2/(C9 ![<<#> 6&* &59(5&/* l-*B&03'& B+(1 /(G7*0( E*1A*1(> (+& 1&02 9(5:&+(;2/*<*+*7&0= -*/9261= 5( 92(+&5(4&0= /2 6=<=@1*./& = '*0= 02 :29*:(+(A 5(/* @2 X=62/'&11(-=./&/& ?SR\ & -9&./=-&/& +2:* *9021/&.(1*0 *97(1&5(4&0& gb8 P*/@(1&G(K&0( (/F&-.'(-( &-.F1&H(/(R '*0( @2 .2 6(:&/& -9*6+2;*; 9(<1&3'&8 1(.2+0(

, u-(1&0(BL @/2B( 6gb5OgW L )B(13'& *@/(1(' cJgTL( J79=-( (98&/2'(/( & /281&3(9( u-(1&02 5(

=1(-92P2102 .(:92;212 (98&/2'/=92L> +2:* *9021/&.(1(> -*< :*P./:*; (/F&-.'-. M*G. E2&3W./-( & r(9.&0( ?29'(<(+(A *31*7(1( !["[# J-9:* '(* '(/(+*1.'& '=+/=91& -*'92/LA1(051(3(01&02 5<(102B!# c(3( ?+*K ,F '*+2'/&:1* ./(;621* 5<(102> '*02 .(<9K& <=-+2'.2 5( ./(1*:(102> 6&6+&*/2'=>

0(.+&42> :9/&@> 6(521 J'*142-/ X2 i*96&502(LL M*G. E2&3 W./- J1(-&.(1*L

, c=K1( SM9&'(BL -/(13&+7(1&03'( @/2B( J'(.1&02 @2 -*./(/& *@/(1(' cJgTL(R , -9&.1*./ .( X2 i*96&502*;1(06*+02 .2 :&<& -* '2\(,( 2 Z*F(1.3N2/@2 = -*./,'*96&502*:.'*; ./&+=

, Y9(5&+BL E23&* m*3-( ,F 9(<& 5(02<1* .( X2 i*96&502*;

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IE# V1/291(4&*1(+1& ./&+

!# f@/(A( ,&1&3-(/3-7( *N/(G*7(10(9 O&* A. q(1.&/* ,F ;*1/(K1& )2./*.-9(/1& *602'(/> -*<&71=/ 1( -&+*/&.&;( .( 69*01&; 2+2;21/&;( X2 i*96&502(A '(.1&02 .2 =/&4(0 X2 i*96&502( -92/:*9&* = +*'(+1& .215&6&+&/2/> '*02 02 .:*0*; -+(./&31*; 9(.'*)@= -*<.2@(* 1( 69(5&+.'& 6(9*' UWVVV :#A :*<2@& -92<./(:1&' *:*7 ./&+(L 83'(/ j&,(0./ J1(-&.(1*L

, c(-(1BL g1-*1&1 O.0,*1A J%28*,S;29&'(1(4L ,F =/&4(0 R(0/(!# W*B3-7.1( '2\(9 b*'&*9 !["<# ,F -9:( '=@( *< (9;&9(1*7,62/*1( = q*'&=A -*'=)(0(.*4&9(10( 1( /9(<&4&*1(+1= 0(-(1.'= (98&/2'/=9= = <9:2/=A '*15*+1& 1(;2)/(0 *< 32+&31&8 42:&"# ̀ *3+*71( G@/(A( B.-/*+.03'. '*,B(1&0. CJG+(G.\. W21K.C ,F '*9&./& (9;&9(1&,62/*1<# 6*+e '+2N9 b*'&*9 ![<^# ,F '&/10(./ & ;(1&9&./&3'&A =/&4(0 a292(]# m2\. G( B*/*A&K. g'(N*)& & U2'2&9 ![<<#L<;# ,F '=@2 .'*9*02:&@( &1<=./9&0(+(4(A 9(<& .(.=-9=7*; & 21/29&029> 1(;2)/(0> /'(1&12A 2:9*(5&0.'&> 7(02 6*7(/ ./&+A *:<2 .2 7=6& R(0/*: &a292*: =/&4(0L m21&* T(0.'(7( J9(<&* 5( R20;*1<( & )'*+*:(* .2 = &1*./9(1./:=L

!# W-(,N.1& N+*' M(/2,&9 b*'&*9 ![;X# ,F -9*&5()(* &5 X2 i*96&502*:*7 O1&/2 <^[(6&/(/&*1A'*;6&1=02 -*+( , -*+( 5(-(<10(3'& & 0(-(1.'& ./&+ K&:*/(L Z21G* W('('2/( J'(* & ?(02'(:(> 9(<&* 02 5( X2 i*96&502(L!# Z(B(13'& B(7&+0*19 W7.-3'( &G+*>N( 2 `(/&G29 ![<X# ,F /9(<&4&*1(+1* h X2 i*96&502*:.'*A.+*6*<(1 -9*./*9> -*:25(1*./ .-*+0()1027 & =1=/9()1027 -9*./*9( -*;*@= 9(;-&"# T2G.0 ,*A./1. 2,.-1*3-&9 m(,('2/(9 ![;!# ,F 12*'+(.&4&./&3'& -9&./=-, T(0.'(7( @2 = .:*; H+(1'2 CO(G,&)+0(10( * K&7&+&G(K&0& & (/F&-.'-2/&C 7*:*9& *

-(9(<*'.(+1*; *-./(1'= /9(<&4&*1(+12 0(-(1.'2 '=+/=92 = 1021*0 .=)/&1&> '(* *12 .1(72 '*0(@2 *.+*6*<&/& s(-(< 1027*:2 /281*'9(/.'2 12=;2921*./&A /&;2 .2 '*1(31* 5(:9)(:( -29&*<V1/291(4&*1(+1*7 ./&+(> 12 .(;* = c(-(1= 127* & = 42+*; .:2/=L m.1G* b(1@. J6&* ?(02'(:&1 (.&./21/L, .;2+*./ -*.+29(/1*7 ./:(9(+()/:( *7+2<( .2 = 1027*:*; <2+=A -*32* 02 1&5*; 9(<*:( '*02 021(9=3&+( <9K(:(> -*32: *< -9&+&31* )2;(/.'&8 *602'(/( @/(A3'&F 7.\1&K( G( n&,&K2 & b*'&*>

-( <* :98=1.'&8 5<(10( G@/(A. ̀ /.e.'-2/. 2 m(@(7&> & 5(/&; 8+&,B&03'&F 3-(A&*1( 2 b*'&2!# 6/(A3'( 7.\1&K(9 b*'&*9 ![;"#L;]# ,F 62/*1.'( -(9*<&0( /281&'2 = <9:2/="# f@/(A( `/.e.'-2/.9 m(@(7(9 ![;;#L;:# ,F ./(102 .'*9* '+(.&312 9(:1*/2K2A +=4&<1(*97(1&5(4&0( -9*./*9(A 2+2;21/& V1/291(4&*1(+1*7 ./&+(A *<+&'2 &./*9&4&5;(> (+=5&02 1( 6=<&5(; &)&1/*&5(;<# =7( 8+&,B&03'( 3-(A&*1(9 G( &@/. 2 b*'&29 ![S]# ,F q(172 1&02 :*<&* 9(3=1( *'92/(10&;(> -( 2+&-/&31& & '9=K1& :*+=;21& *:&8 ./(<&*1(> -*'9&:21& .= +(13(1&; 32+&31&;'9*:*:&;( *62)21&; * 9*7*:2 2+&-/&31&8 (9;&9(1*,62/*1.'&8 '*15*+( '*02 1*.2 &./*:92;21* &

7*9102 92<*:2 '*.* -*./(:+021&8 .2<&)/(]# WB*,.1&' ,&/29 M&/*)&,(9 ![;;# J421/(9 ;&9(L ,F q(172 02 :29*:(* <( @2 21297&0(>*.+*6*P21( &1/215&:1&; 9(5:*02; c(-(1(> -*;*@& <( .2 0(-(1.'( /9(<&4&0( -92*69(/& = 12)/*1*:* & '92(/&:1*A * /*;2 7*:*9& = .:*0*0 -9*1&4+0&:*0 (1(+&5& = :92;2 5(:9)2/'( a92M2'/=92BTc(-(1 02 <* 12<(:1* 6&* 12-92'&<1* -*< (-.*+=/1*; :+()@= <9K(:2> <*' 02 '=+/=91( 21297&0(1(9*<( , 21297&0( '*0*; 6& .2 ;*7+* ./:(9(/& 1*:*> 6&+( *79(1&321( & -*/&.1=/(A /( .2 21297&0(=.-2+( *.+*6*<&/& /2' = *:*; :92;21=> (+& /926( 0*) ;1*7* =3&1&/& <( 6& .2 -9(:&+1*(9/&'=+&.(+(T;# m*1'2/3 G( Cm&13.'* L 0(B(13'& '2+-2/1& K.1-(/C9 ![]"# ,F 2'+2'/&3(1 9(<S# M/(, =., 329 83('(X# bD 3-(1&K( 2 m*e2 ,F '*1./9='4&0(> &1./(+(4&02> ./2-21&)/2 J02579*L

:# T2G.0 3(7/.,.1. 2,.-1*3-&9 Z*'*F(,( ,F *-29&)2 .( 2:9*-.'&; 2+2;21/&;( (98&/2'/=92

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IE# V1/291(4&*1(+1& ./&+

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;*<291*0 (98&/2'/=9& c(-(1( -9*1(+(52 & &./&3= /9(<&4&*1(+12 *.1*:2A 6&* 02 -*< =/&4(02; X2i*96&502(

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IC# S9/ Z24*

<:# g/- =.K*

, B*0(,4, *G1('( Cg/- =.K*C -*3&102 <( .2 '*9&./& B*3+. CT.p21(/*A1. &G+*>N. A.'*/(-&71&F2,.-1*3-&C 2 `(/&G29 ![";#9 G( ,*A2 3&1-.-&H'. 3-&+&G(K&0. &G,.p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, g/- =.K* PC,*A./1&3-&H'& 3-&+CR 2 g,./&K&4, *.1*:2 ;*<291&5;( = \SZ ,F &5:*9&B :2+&'( &5+*K6( = a(9&5= !N"G#> '=6&5(; ]9(1' X*0<R(0/(> 2/&'( ;()&1(> 4&:&+&5(4&0( ?(0(> *69(.4& a=26+* , V1<&0(1(4(> Y23'( .242.&0(> b2;(3'&2'.-92.&*1&5(;, S9/ Z24* <*K&:+0(:( -9*4:(/ = S;29&4&> 7<2 .2 /9(7( 5( 92-92521/(/&:1&; ./&+*; -*.+*:1&8579(<(A (;29&3'& S9/ Z24* *.+(10( .2 X^_4*+2 <2. Y2(=` S9/. /9(<&4&0= J'*0( 02 T.+=K621& ./&+T= S;29&4& *< Ti*+=;6&0.'2 &5+*K62T = %&'(7= !CNI#> -( .:2 <* -9:*7 .:2/.'*7 9(/(L> 1(<2'*9(/&:&5(; %&'()'2 )'*+2> 1( T7*/.'&T ./&+ 126*<29( J'*0& = b0= c*9'= =./(1*:+0(:( m(3=>&+N./- G@/(A*, D2+7*/- &G ![!<#L> '(* & 1( 9(5+&3&/2 (:(17(9<12 &5:*92, -92.=<1= =+*7= = M*9;&9(10= :*<2@27 ./&+( &;(* 02 '*1'2/3 G( G@/(A2 %&'(@* b/&N021( &G

![""#> '(<( 02 -*62<&* 9(< O.0,*1A( M2A( & =>*1( T&A( M(2.+3( = -.2=<*7*/.'*; ./&+=, <* <9=7*7 .:2/.'*7 9(/(> = S;29&4& S9/ Z24* <*;&1&9( '(* =96(1& ./&+ -*.+*:1&8 579(<( &./(;621&8 6+*'*:( = 79(<.'&; 02579&;(A /* 02> =02<1*> = .'+(<= .( *-)/2 -9&8:(@21&;.8:(/(102; ./&+.'2 -9&'+(<1*./& 5( -*02<&12 1(;212 J= &./* :92;2> -*9*<&312 '=@2 =2'.'+=5&:1&; 32/:9/&;( 6+&.'2 .= 217+2.'*; TM922 (948&/24/=92T ./&+= J=5 <*<(/(' -*12'*7/92;( = '*+*1&0(+1*; ./&+=L> =1&:295&/2/& = T.92<102:2'*:1*;T> & /<#L

, 1(0B*G(1(-&0. G@/(A.4!# m/(03+./ N&+A&1@9 j02 Z*/'9 ![":#L<^# L (/F# D&+&0., 7(1 g+.1A ;*K<( 1(0-*51(/&0& -9&;29(;29&3'*7 S9/ Z24*,(A <2'*9(/&:1& .&./2; *:2 579(<2 /926( <( -*<.2@( 1( i9(0.+29*:2(=/*;*6&+2

"# O*'e.+./ K.1-(/9 j02 Z*/'9 ![<!#L<[# L (/F# O.0,*1A M2A & =>*1 T&+A M(2.+3 & A/#JT79(< = 79(<=T , *:* <2+* 02 1=<&+* .4&2142 M&4/&*1 :&5&0= 79(<( 126*<29( , /*9102:(LA

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IC# S9/ Z24*

'*;-+2'. 1( -9*./*9= *< C 6+*'*:(> .(<9K& !D 579(<(A 7+(:1& <2* &579(P21 02 5( !C ;2.24&A'*;-+2'.*; <*;&1&9( .'=+-/*9(+1& 625*91(;21/(+1& *N+('*A./ Ocg J= 02579= '*;-+2'.(L*< EH .-9(/*:(A .:( =;2/1&3'( <2+( &5+*K21( &+& '(* <2* 421/9( *69(P&:(+( .= /2;(/&'=.:2/+*./&> 5:='(> 9(<&0(> qW> =*-)/2 1(-92/'(> <( 6& '=+;&1&9(+( .( <:( 7+(:1( *602'/( J<2+(L 1(.92<10*0 *.& '*;-+2'.(B !# a9*;2/20 , -*5+(@21> *'9=K21 5*<&0('*; J.'=+-/=9(L> '*0& .2 &5<&K2

&51(< /97(A "# T3*:2' 1( 9(.'9)@=T , 5+*.92/1( 5&<1( .+&'( , ;=9(+> <2+* Z&027( R&:292> = -92<:*90= RfS> .( & &<2*+*)'*; &'*1*79(M&0*; J='+0=3=0=@& 3(' & .+&'= X210&1(L 56*7 327( .=7( ;*9(+& ='+*1&/&A I# S;29&'(1 9(<&0(/*9 6&+<&17> b0= c*9' , R20;*1< [=< & ZK*1 ?&+<[(=2+.<# O(A&* K&-Q ,23&K F(++ J:2+&'( '*1429/1* , 6&*.'*-.'( <:*9(1( JQ"HH ;2./(LL ,F '9*:1&:9/*:& 1( :98*:&;( <:2 1&K2 579(<2 & )2/(+&)/2 .( :*<*.'*'*; +2:* & <2.1* *< 10&8]# D.+&'& N/*0 A/2@&F 1020*/)'&F *N+('*A./( 1( T.1F.-12 /('*P2 02 &579(P21 = *:*; ./&+=;# f@/(A( =>*13*1 D('3 & A/#9 C&1A&0(13'&C 3-&+ 2 m(+&e*/1&0& ,F 9(<*:& R(0/( &5;2P= <:(9(/(> /('*P2 -*'(5=0= .+&31*./ .( S9/ Z24*,*;S# Cn.+ N&+A&1@C9 M(@ P57/*B(R L 82A

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IN# S98&/2'/=9( /*/(+&/(91&8 92K&;(

<[# g/F&-.'-2/( -*-(+&-(/1&F /.>&,(

, (/F&-.'-2/( -*-(+&-(/1&F /(>&,( ,F V/(+&0(> b2;(3'(> \\\R

t J-(+&0(4 ,F 9(5:*0 M()&./&3'2 &<2*+*7&02 -*.+2 -9:*7 .:2/.'*7 9(/( -9*&5()(* 02 &5 <:( (.-2'/(M=/=9&./&3'*7 -*'92/(B '=+/( 9(/( & :2+&3(10( ;()&1(A 9(/ 02 <2./9='/&:1* <2+*:(*> ;2P=/&;> & 1(.(; M=/=9&5(;A 1( -*0(; T&1<=./9&0.'2 '=+/=92T /0# T'=+/=92 ;()&1(T -*32+* .2 7+2<(/& .(

-*<*592102;> 12 .(;* *< ./9(12 1(9*<1&8 ;(.(> :2@ & &1/2+&7214&02A */-*9 -9*/&: M=/=9&5;( 0(:&* .2 = <2+= y*9P( <2 i&9&'( J&/(+&0(1.'& .+&'(9 & +&'*:1& '9&/&3(9L Ts(7*12/'( .(/(T> '*02 -9&'(5=02 -29&./&+ .( +='*:&;( = .=;9('= J5(./9()=0=@ ;2/(M&5&3'& -9&5*9 '*0& .+&'*:&/* -92<*3(:( M*9;= &/(+&0(1.'2 b*:2 /9(<&4&02L, = -29&*<= M()&./&3'2 :+(./& !N""#,DI# &/(+&0(1.'= (98&/2'/=9= '(9('/29&)2 +(/21/1& J(+& -92M&1021L.='*6 ,*A./1&3-( & 1*7*-/(A&K&*1(+&3-(A .-24&M&31*./ /*7 .='*6( 02 = /*;2 )/* .= & 02<1& &<9=7& 6&+& 5(7*:*91&4& 1*:*7 /=;(3210( '+(.&312 /9(<&4&02> '(* )/* .= & 02<1& & <9=7&> 1(*<92P21 1(3&1> &5:*9&)/2 &;(+& = -92<9(/1*0 &/(+&0(1.'*0 ;*<291&./&3'*0 /9(<&4&0&

!# -*< =/&4(02; s*/p( A. m&/&'( & ;2/(M&5&3'&8 .+&'(9(> = &/(+&0(1.'&; :&5=2+1&;=;2/1*./&;( 1(./(02 B*'/.- Cj*7.K.1-* J-(+&(1*CA <2 i&9&'* -*'=)(:( <( .:*0&;> 1(032)@2(98&/2'/*1&31&; '*;-*5&4&0(;( -9*1&'12 = ;2/(M&5&3'* -9&.=./:* '+(.&312 -9*)+*./& =.(<()10*./&A :*P21( /*; &<20*;> ,&+(13'( (/F&-.'-*13'( (7(1@(/A(> *'=-+021( *'*s*7(1&0( T2K&0(> 1(./*0& <( <( .:*02 :&P2102 '+(.&31&8 *6+&'( ?2<&/29(1(> .=-9*/./(:+0(0=@&.2 M=/=9&./&3'*; '=+/= ;()&12A -9:( ;(1&M2./(4&0( (98&/2'/*1.'*7 -*'92/( Tb*:2421/*V/(+&(1*T 02 =-9(:* T2K&0.7( 3-(,N.1( G@/(A( m(h?/2-(9 T&+(1*9 !["<# J?=4&0* -&)2 *

-*'92/= Tb*:2421/* V/(+&(1*T '(* (1/&M=/=9&./&3'*;> /:9<& <( @2 '+(.&312 )2;2 -9*)+*./& =:2' 6&/& =-*/926+0&:2L"# A/2@& '/2@ ,&+(13'&F (/F&-.'(-( e*/,&/( C6/2B2 XC > '*0= -92<:*<& s2G.B. b./(@1&P6&23.BB. b.//(@1& ![^]#L]!#R J79=-( -*'(5=02 1('+*1*./ -92;( <2=/.482 w29'6=1<,= &

9=.'&; '*1./9='/&:&./&;(LA 79=-( /2K& 1*:*0> 9(4&*1(+1*0 .&1/25& 1(4&*1(+12 '+(.&312 /9(<&4&02 &./9='/=912 +*7&'2 ;()&1.'*7 <*6(A ./:(91= (M&9;(4&0(= 9(4&*1(+&./&3'( (98&/2'/=9( -*3&102 <(./&32 &579(<10*; b./(@1&0.7*@ '*,B+.'3( j*7*'*,21 2 m*,29 J-(+&0(9 ![":# J*:( 579(<(>1( -9# = /92/;(1= =7+*:( 7<2 .2 =;2./* '+(.&31&8 *0(3(10( 1(+(52 *./('+021& :(+0'*:&> ='(5=021( &5:2.1= 1('+*1*./ 9(4&*1(+&./( -92;( '*1./9='/&:&5;=LA ![<^# 9(4&*1(+&./& ./:(9(0=2A/2>.10. TJgO P&-(+&0(13'& B*'/.- G( /(K&*1(+12 (/F&-.'-2/2RA &./2 7*<&12> T23*+&1&+&31* */:(9( &5+*K6= -*'92/(A 1*> & -*92< /*7(> -9*:+(<&1* j(K&*1(+1* 2A/2>.10. (/F&-.'(-(J/9(<&4&*1(+&./&3'& *9021/&.(1*L 12-9&0(/2+0.'& .2 -*./(:+0( -92;( ?VSR,= 56*7 1027*:*7'9(0102 &1/2+2'/=(+&./&3'*7 ./9*7*7 (.'2/.'*7 -9&./=-(> '*0& 02 *<6(4&:(* &'*1*79(M.'( .:*0./:((98&/2'/=92, /(<( T(/H.+* `0(\.1-&1&> 1(0=/&4(01&0& 3+(1 j(K&*1(+1*@ 2A/2>.10( (/F&-.'(-(> *<+=3=02

<( 1(-9(:& '*;6&1(4&0= B*'/.-( Cj*7.K.1-* J-(+&(1*C & /(K&*1(+&G,(> ./:(9(0=@& /('*2'+2'/&3'& /5:# CE&'-*/3'& 3-&+C & 5(+(K=@& .2 <( /* -*./(12 .+=K621& ./&+A M*9;=+(4&0( /2*9021/(4&02 02 1027*:( G@/(A( `(+(-. B/(7A. 2 T&+(129 ![<"#A a&0(@21/&1& M*9;&9(B/*e()&3-&H'2 @/2B2 OgT> 3&0= (98&/2'/=9= '(9('/29&)2 ;(.&:1*./> ;*<=+(4&0( -9(:*=7(*1&8*/:*9(> 9=<&;21/(91& '+(.&4&5(; ./=6*:( & :21(4(A 1(051(3(01& -*<=8:(/ *:2 79=-2 02 G@/(A(l1&7./G&-.-( 2 O&,29 ![<"# J-*1(:+0(102 02<1*./(:1&8 *.1*:1&8 2+2;21(/(L, ![<"# s2G.B. `(@(1* J(98&/2'/(L & 5A*(/A* `./G&'* J+&'*:1& '9&/&3(9L -*'92@= +&3-Cc(3(N.++(C> *97(1 &/(+&0(1.'*7 9(4&*1(+&5;(, &./2 7*<&12B = T&+(12 02 *.1*:(1( /(K&*1(+&3-&H'( @/2B( C??ÒC JD (98&/2'/2L> '*0( = :2@

-927920(1& (98&/2'/*1.'& <&.'=9. =1*.& &5:2.1& '9&/&4&5(;, &./2 7*<&12B c(3( A.+ U(3K&*9 m*,* J-9:& -=/ .2 :&<& 1027*:( *-.2<1=/*./ /9(1.-(921/1*;

(98&/2'/=9*; , M=/=9&./&3'& -9*79(; * =:*P210= =+&42 = '=@=L , *:* <2+* b./(@1&0( 021(0:(K1&0( 579(<( &/(+&0(1.'*7 9(4&*1(+&5;(A -*+='*4'( .( ./9*7*; -92<10*; '*1./9='4&0*;>

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IN# S98&/2'/=9( /*/(+&/(91&8 92K&;(

T-(+(4*T -+(1 J.( :2+&'*; <:*9(1*; =;2./* (/9&0=;( = .92<&1& , -*+&/&3'2 '*1*/(4&02B12.;2/(1& =+(5(' ;(.*:1&8 <2;*1./9(4&0( .( =+&42 = =1=/9()10& -9*./*9 579(<2LA 2'./29&029579(<2> /0# M(.(<2 ='(5=0= 1( 21/29&029 , = -29&*<= !NI"#,IQ# -*<&71=/2 .= 1(0:(K1&02 579(<2 9(4&*1(+&5;(> ;2P= '*0&;( -*.261*;2./* 5(=5&;(0= @/(p.7&1. '*02 G( 8+&7.-&0( -*<&K= U&@&1& J<*-9&1*. ;*<2912 (98&/2'/=92 =

8=;(1&5(4&0& &1<=./9&02L & `*+&1& 2 J7/.&> 5(/&; C=7*/(1( G+(-1&F ,.A(+0(C `./G&'( &j&K*+&0( 1( (./*1(2-&H'*0 &G+*>N& 2 T&+(12 ![<]# J:&.2@( '*1./9='4&0( , +(:&9&1/ 62+&8<9:21&8 92)2/'(./&8 '*1./9='4&0( &5<&71=/&8 &51(< -*<(> = '*0&;( .= 6&+2 79(M&'2 & M*/*79(M&02L> &<9=72, -*.+2 !NIQ# (/;*.M29( .2 -*7*9)(:(> 1(-(<& /9(<&4&*1(+&./( -*./(0= .:2 K2)@&A :2@&1(9(4&*1(+&./( =+(5& = ;(10& &+& :2@& '*;-9*;&. .( /&;> .:2 0(3&; .8:(/(10&;( J1( B/# `(@(1*3(/(p20. 3( `&0(\.1-&1&0., 1( -9&-92;& &G+*>N. 5lO9 ![]"#> 3&02 6& /9(012 79(P2:&12> -*?=.*+&1&02:*0 K2+0&> -*./(+2 02579* b*:*7 R&;(A @+(71( @/(p.7&1( '*,B+.'3( L `(+(-(&-(+&0(13'. K&7&+&G(K&0. , '9(010( 02 :=+7(9&5(4&0( -*'92/( Tb*:2421/* V/(+&(1*TA =96(1&./&3'&>

-+(1 -*'(5=02 &./= ;*96&<1*./ '(* & ?=.*+&1&02:( T*.;(1&5(4&0(T R&;( &5 !NI!#, = /*'= 9(/(> ;*7& 9(4&*1(+&./& .= ./9(<(+& , 12'& =;&9= -*< 129(50()1021&; *'*+1*./&;(> 12'&

5(:9)(:(0= = 12;(3'&; '*1421/9(4&*1&; +*7*9&;(A -*.+2 9(/(> -*'92/ 02 *61*:+021> ( 1(9*3&/*.1(K1* 02 =/&4(* 1( (98&/2'/2 *'* O*3&0( & 6/(3&0(

t j.,(H'(4, !NII#> -* <*+(.'= 1(4&./( 1( :+(./> ;*<291( =;2/1*./ 02 5(69(1021( '(* T<272129&.(1(T>T'*.;*-*+&/.'* , 02:920.'(T & .+#A = M*9;(+1*; .;&.+=> 5(<9K(+( .2 .(;* = M=1'4&*1(+&./&3'*0&1<=./9&0.'*0 79(<10&, -9*6+2; .( -9*1(+(K2102; *<7*:(9(0=@27 (98&/2'/*1.'*7 ./&+(> 1(4&./& 92)(:(0= *.+(10(102;1( .1(K1= !# (1-&G(B(10(H'2 1(/*A10(H'2 -/(A&K&02 P2 B*@+.A2 3-(,N.1. @/(A10.R & 1( "#(/F&-.'-*13'2 -/(A&K&02 1.,(H'*@ '+(3&K&G,( = 9(<*:&;( n&1'.+(9 6&+&0(9 E(1@F(13( &A/2@&F P2 B*@+.A2 /.B/.G.1-(-&71. @/(A10.RA ;2P=/&;> :(K1* 02 92@& <( 02 6&+* & <9=7&8

-.2=<*,&./*9&4&./&3'&8 -*0(:( = 1(4&./&3'*0 (98&/2'/=9&> )/* 12<:*.;&.+21* *<.+&'(:( 1021=T)&5*M921&31=T -9&9*<=!# &5:*9 ./(;621*7 CM.&,(-3&+CL( PCA*,*7&13'& 3-&+CR 02 &<2*+*7&0( '9:& & /+(> -9:& -=/&5+*K21( = '10&G& D(+-./( =(/.( CW.+0()-7* '(* &G7*/ >&7*-( 1*/A&03'&F /(3(C9 !["[# > ='*0*0 .2 K=31* -9*/2./:=02 -9*/&: =96(1&5(4&02> ( .2+* .2 -92<./(:+0( '(* /:9P(:( -(/9&*/&5;(A7+(:1& -*6*91&4&> 0*) *< "H,/&8 7*<&1(> 6&+& .= M(01/&F b.3.1(2 & `(2+ n2+K.Lj(2,N2/@A =.:*0*0 '10&G& C?*/N( G( 2,.-1*3-C9 ![<"#9 n2+K.Lj(2,N2/@ J*'921=/ '( -*'92/= S9/. (1<f9(M/> 02<1*./(:1&;> *97(1.'&; *6+&4&;(L 1(-(<( T1*;(<.'&T> (-(/9&<1& ./&+ 79(<.'*7 K&:*/(>M=1'4&*1(+&./&3'= (98&/2'/=9=> (98&/2'/=9= 9(:1*7 '9*:( '(* &59(5 <9=7*7 -*<126+0( & .+&31*J*1& 5(02<1* 9(<2 62+* *'92321( 5<(10( .( '*.&; '9*:*:&;( , '(* <2* /9(<&4&02> '*921(>

-9&-(<1*./&L"# 7+(:1& -9*/(7*1&./& /.B/.G.1-(-&71*@ A/>(71*@ 3-&+( 6&+& .= `(2+ E2A7&@ b/*3- & g+N./-nB./A *6*04( 9(<2 = -.2=<*'+(.&31*; ;(1&9= J.-(9/(1.'& '+(.&4&5(;A ./29&+&.(1(>;27(+*;(1.'( -929(<( u&1'2+(LA @+(71& nB./*7& B/*0.'-& J.= 79(1<&*51& *602'/& 5( -*/92621(4&./&3'2 <9K(:2LB 3-(A&*1 J5( -*+&/&3'& .'=-L c.B.+&1e&+A9 j&/1N./@9 ![<X#9 3.A&)-.m(1K.+(/(9 ?./+&19 ![<:# JnB./4 CE.A.1( '(-.A/(+(C , ./=6 *< 5(./(:( & 92M+2'/*9(> &5:2<215( :2+&'& -*+&/&3'& 56*9 1( q2;-2+8*M= = Y29+&1= !NIG#LA 1(4&./&3'& 12*/9(<&4*1(+&5(; *<+&'=02.2> &51(< .:27(> -*<&5(102; 0(:1&8 79(P2:&1( = .:98= ;(.*:12 8&./29&02 , /* <*69* &+=./9=0=

6&5(912 79(P2:&12 J'*02 @2 .+=K&/& '(* .421*79(M&0(L '(* )/* .= *-7*/.1. (/.1. J'(* 7*+2;2T'=+&.2T 5( -.2=<*,'=+/12 1(4&./&3'2 9&/=(+2 &+& /*'*; 9(/( -*<&5(1& .-*;21&4& -*7&1=+&;( =9(/= , Cb*-.1N2/@.1C PCG(,'*7& ,/-7&FC = Y=+2*:.'*; ./&+=RA &5=52/4& *< *:*7( .=B

8+&,B&03'& 3-(A&*1 D./1./( T(/H( & ?*1(K*7& ,*3-*7& &G ![<S#

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IN# S98&/2'/=9( /*/(+&/(91&8 92K&;(

t WWWO4, 1( '*1'2/32 G( `(+(-2 W*70.-(9 ![<!# J1( ;2./= .9=)212> ( <(1(.> Y*7= 8:(+(> *N1*7+0.1.K/'7. M/&3-( WB(3(A '(* 9=.'& *<7*:*9 1( 5<(102 X&72 1(9*<(L> -*0(:&+& .= .2 9(<*:& &5 42+*7.:2/( JE. m*/N&G0.9 `./.9 6/*B&0239 `.+K&@L & R=.&02 JgWj8Dg9 8Wg9 D8ÒgR , & *:<2<*+(5& <* .='*6( &5;2P= ;*<291&./&3'*7 -*'92/( & 1*:2 /9(<&4&02A *<+='( K&9&0( <(> '(*

-*62<1&3'&> &5(6292 9(< ?# T# Z*e(1(> -9:( 02 ;(1&M2./(4&0( .*4,92(+&5;( = R=.&0&J'*1./9='/&:&./&3'2 <:*9(12 '(* -*+='9=K12> &:&312> *'* 32/:*9*=7(*1*7 */:*921*7> '+(.&31*7<:*9&)/( = 3&02; 02 421/9= '+(.&3(1 ./=6 .( '&-*; 9(<1&'( 1( :98= J(+=5&0( 1( i&- .+*6*<2L .(

6('+0*; =./(1'( 12.+*6*<2LA -9*02'(/ @2 '(.1&02 6&/& &5;21021 .( :2+&'&; '&-*; X210&1( 1(:98=A &9*1&0( *:*7 '*1'=9.( 6&+( 02 = /*;2 )/* .2 1&02<1( +2:* *9021/&.(1( 79=-(4&0( (98&/2'(/(1&02 -92<./(:&+( 9(<*:&;( 1( +&1&0& ;*1=;21/(+1*7 .*4&0(+&./&3'*7 92(+&5;(, !NI"# fi -(9/&02 -9*7+()(:( 3*K&0(+&3-&H'& /.(+&G(, 3+2>N.1&, 3-&+*,A (98&/2'/=9=.*4&0(+&5;( '(9('/29&)2 ;27(+*;(1&0(> -.2=<*'+(.&4&5(;> -9&;21( .'=+-/=9( = &./*; ./&+=, .+*;= (:(17(9<12 (98&/2'/=92 = R=.&0& <*-9&12+* 02> = .'+*-= *-)/&8 '92/(10(> 0(3(1022'./92;1* <2;(7*)'2> ./(+0&1&./&3'2 (3*K&0(K&0. (/F&-.'(-( CD8ÒgC> '*0( /:9<& <( T.(;*

-9*+2/29& ;*7= ./:(9(/& -9*+2/29.'= '=+/=9=TA = ./:(9(10= *:*7 ./&+( :(K1= =+*7= *<&79(+& .=

12'& 928(6&+&/*:(1& -9292:*+=4&*1(91& ('(<2;.'& (98&/2'/& J6.+e/.&F9 nH2'9 nH23.79 ###R, !NII# *.1*:(1( 02 ?*.'*:.'( S'(<2;&0( (98&/2'/=92> ( !NIG# 1021( -+(129.'( .2'4&0(, ![<;# =9(P21 02 6.1./(+1& B+(1 T*3'7.> 3&0& 1(0:(K1&0& <2* 3&1& 3&3-., B*AG.,1. @/(A3'.>.+.G1&K.i 3-(1&K. ,*3'*73'*@ ,.-/*( 02<(1 .= *< 1(0:=+7(91&0&8 -9&;29( .*4,92(+&5;(, ![<X# *A/>(1 0. 6.1./(+1& m*1@/.3 W(7.G( W*70.-3'&F (/F&-.'(-( '*0& -9*-&.=02

-9*02'/*:(102 = :291('=+(91*; & '+(.&31*; <=8= 1( 42+*0 /29&/*9&0& 52;+02, ![<:# nH23.7 -*<&K2 E.10&1*72 A/>(712 N&N+&*-.'2 , 62.;&.+21&> *7*+021& '+(.&4&5(;, !NDI# <*12/( 02 *<+='( * *61(:+0(10= 9(/*; 9(5*921&8 79(<*:(> '*0( 02 72129(+1* -9*-&.&:(+(92./(=9(/*9.'2 9(<*:2, !NDE# B/*0.'-*7(1* 0. : *N+('*A./( 2 3*KL/.(+&3-&H'*, 3-&+2 G( T*3'72> *< '*0&8 02 XB*A&@12-* J;*96&<1*L, !NGD#,GG# .*4&0(+&./&3'& ./&+ .2 ='&<(> ( 9=.'( (98&/2'/=9( .2 -*1*:* -*+('* :9(@( = *':&92;*<291*7 -*'92/(

"!"



DH# S+:(9 S+/*

]^# g+7(/ g+-*

L g+7(/ g(+-*9 !:[:# L ![XS#9 U&13'( ,F 5(1&;( .2 5( 1(9*<1* &5:*91* 79(<&/2+0./:*A 1027*:(<2+( &;(0= 2+2;21/2 <:( ./&+( 1*9<&0.'2 /9(<&4&02B !# 1(4&*1(+1& 9*;(1/&5(; J&5:*9 02 = -*'92/=7*/&4 92:&:(+L> <(/&9( &5 !CNG#A "# ./9*7 <*9.'& .215&6&+&/2/ J&5:*9 02 = u&1'2+*:*; 9*;(1/&31*;'+(.&4&5;=L &5 !N!H#A 1&0<21*; *< *:&8 ./&+*:( 1&02 .2 -*/-=1* -9&'+*1&*A /*'*; 42+*7 K&:*/(/9(7(* 02 5( -*./&5(102; (;6&021/( J/*-+*/(> .:2/+*./> 5:='L ,F = 1027*:&; -9:&; 92;2',<2+&;(B!# W(1(-*/&02,9 `(&,&* ,F -(K+0&: 9(.-*92< 6*+2.1&3'&8 .*6(> &5:*9& .:2/+( & /*-+*/2 .=

-*<(+02 *< -*./2+0(> -+(M*1& .= /(;1* *6*021& <( 6& =;(10&+& *<6+02.('> =;&:(*1&4& .= 625)=;1&"# 6/(A3'( N&N+&*-.'(9 D&B2/& ,F <(1*1*@1( &1<&92'/1( 9(.:2/(> ('=./&3'( &5*+(4&0( 3&/(*1&4(, -*.+2<102 <2+*B m*1K./-1( A7*/(1( U&+(1A&0(9 M.+3&1'& 5(:9)21( ![XS#

, 9*P21 02 !CNC# = ;2./= i*=9/(12> ]&1.'(A ./=<&9(* !N!Q#,"!# 1( a*+&/281&4& = [2+.&1'&0=A

./=<&0.'* -=/*:(102 , \'(1<&1(:&0(> f21/9(+1( _:9*-(> V/(+&0(, ![""# L ] &G+*>N.1( *N0.'-( 1( &1A23-/&03'*0 &G+*>N& 2 b(,B./.2 J.=-9*/1*./&> '*02 -*'(5=0= 9(5+&3&/2 =/&4(02 & ./2-212 '=+/=91*7 9(5:*0( S+/(B !# T'+(.&31&T &1<=./9&0.'& -(:&+0*1J*< ;*<=+(91&8 <9:21&8 *-+(/(LA "# '&*.' .( .+(;1(/&; '9*:*; J<*;*9*<(3'& ./&+A /= .= 6&+2&5+*K212 ]&1.'2 9='*/:*9&12LL, !N"I# */:(9( 6&9* = c&:(.'&+& J=/&4(0 W(7129(L, !N"G# K21& .2 .( S&1* ?(9.&*> '*0( ;= 02 1(06+&K& .(9(<1&' <* .:*02 .;9/& !NDN#, -9*02'/& = c&:(.'&+& !N"I#,"E#B, O(A1&H'& 3-(1*7& g=/&4(0 g3B+21A( ,F .+(6* &59(K21 12*'+(.&4&5(;, O(A1&H'& '+2N gJ<*9.'& ./&+LA +*'(+1* 79(<&/2+0./:* J= <9:2/=LA, j*7. & /.'*13-/2&3(1. K/'7. g[*M;(1 J./9*7*./LA

, =7( A*,( K&7&+1. G()-&-. gu&1'2+ , &/(+&0(1&5&9(1 ./&+, J e(G(9 !["X#L<]#4 ,F -*32/1( M(5( 592+*7 ./:(9(+()/:( , M=1'4&*1(+&5(; J.'92@2 '(9*;(1/&31*; '+(.&4&5;=L!# 6/(A3'( N&N+&*-.'(9 D&B2/&9 !["X# J&5:2<21* !NIH#,IG#L ,F = -9:*6&/1*0 :295&0& .1(K(1=/&4(0 S.-+=1<( & ):2<.'*7 12*'+(.&4&5;( JM(.(<2> M9&5> *79*;1( 27&-/*&<1( :9(/(L> '(.1&02&5;21021(A <:( ('.&0(+1( /9('/( .( 9(:1&; '9*:*:&;(A (9;&9(1*,62/*1.'( '*1./9='4&0("# W(1(-*/&02,9 `(&,&*9 ![":#L<"# J-9:( 1(79(<( 1( '*1'=9.=> '*1./9='/&:&./&3'& -9&./=-L ,F9(5:2<21( '9&+(> .*62 9(4&*1(+&./&3'& *-92;+0212> *'921=/ 1( 0=7 & 0=7*&./*'A '*15*+1('*1./9='4&0( , (9;&9(1*,62/*1.'(<# f@/(A( 02@*G(B(A1. B*+0*B/&7/.A1. G(A/[email protected] ![":# ,F S.-+=1<*: =/&4(0> &579(P21( =

b2/'22B '*+*9&5(; -*5*9&)/( = 579(<& , /(;1* -+(:* 7+2<(+&)/2 .( ./*+&4(;( *< 9=K&3(./*7 6(9)=1(, !N"C# -9&.=./:*:(* '*1M29214&0& * (9;&9(1*;,62/*1= = a(9&5=> -(<( -*< =/&4(0 8*+(1<.'2J=20'./L & 9=.'2 JgWj8DgR (:(17(9<2 J8*+(1<.'*7 & 9=.'*7 '*1./9='/&:&5;(L, &5+*K6( EHH,/*7*<&)10&42 q=9'=(> !N"N#]# `*3+*71( G@/(A( &GA(7(H'. 1*7&13'. '2\. Cb2/21 W(+*,(-C9 2 b2/'229 ![":# ,F =/&4(0

-*;(+* '*1./9='/&:&./&3'&, !N"N# -9&.=./:*:(* '*1792.= fVS?,( = ]9(1'M=9/=> 7<2 ./(02 =5 -9&./(+&42 T1*:2*602'/&:1*./&T -* -&/(10= ./(1*:(10(;# W-(,N.1* 1(3.+0. G( e&13'* lA/2>.10. G( 2,.-1*3- & G(1(-.9 ![<^# > & -92<+*7 -9*/*/&-(;&1&;(+12 '=@2> !NI"#

"!I



DH# S+:(9 S+/*

, JJ e(G(9 <^L-. @*A&1. P![<]#L<[#R4, .92<&1*; IH,/&8 7*<&1( =-*51(02 &1A23-/&0(+K. 62+&).1> :+(.1&'2 '*14291( 5( -9*&5:*<10=<9:2/(> -(-&9( & 42+=+*52, !NIG# *.1&:( .2 B/.A2G.\. CgOb5mC 5( -9*&5:*<10= & -+(.;(1 S+/*:*7 A/7.1*@1(,.)-(0(> '*02 7*A& g&1* g+-* JS+/* 02 <&5(01&9(* & ./*+&42A 5(8:(+0=0=@& <K&:*/1*;

-*'9*:&/2+0./:= M&1.'2 <9:12 &1<=./9&02> S+/* -*1*:* =:&P( -92<1*./ <9:2/( 1(< 62/*1*; ='*1./9='4&0&LS# U(N/&'( B(B&/( & /(A1&H'& 3-(1*7& W21&+(9 m(-2(9 ![<S#L<X# ,F ;*@1( '*1./9='/&:&./&3'((98&/2'/=9( M(69&'2A ./(;621* 1(.2+02 , 9(51*:9.1& /&-*:& ./(1*:(A 1&5 &1M9(./9='/=91&8

-*7*<1*./&X# D+(3-&-( '2\(9 T21'&1&.,&9 M.+3&1'&9 ![<S# J-*324& =<(+0(:(10( *< ;2P=1(9*<1*7'*1./9='/&:&5;(L ,F TXT *.1*:(> (.&;2/9&0(> 5&<*:& *< *-2'2> <9:2/(> 79=6*7 ;(+/29( , '(*'*+(K:# U&13'& B(7&+0*1 1( W7.-3'*0 &G+*>N& 2 `(/&G29 ![<X# JV 1(79(<(L ,F <9:21( 579(<( JT)=;('*0( 8*<(T , 9(51*:9.1& '*1./9='/&:1& .'+*-*:&> <9:21( *-+(/( 5&<*:(A 1(32+* -9*./*912<&./9&6=4&02 J-9&.=/1* = S+/*:*0 592+*0 '(9&029&L , -*<2+( 79(P2:&12 = <:( <2+(> .( T(/9&0=;.'&;T

;2P=-9*./*9*; J*:(0 '*142-/ -*/&32 *< /9(<&4&*1(+1*7 '*;-+2'.( .2*.'2 '=@2L[# D&+( T(&/.( PG( 62+&).1*7.R9 j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

, JJJ e(G(9 ![<[#L][#4, S+/* /9(7( 5( 1*:&; &59(5*; J92/*9&3'& -*'921=/& 5&<*:& U&13'*@ B(7&+0*1( W7.-3'*0 &G+*>N&2 j02 Z*/'29 ![<[# &+& W-2A.1-3'*@ A*,( 2 T(3(H23.-329 ![]X#L]:#LA 12'* :92;2 -9*:2* 02& = 9(/=, !NDN# =;&92 g&1* g+-*

, JD e(G(9 A/2@( 3-7(/(+(H'( e(G( *A ![][#4 ,F = .:*; /2'./= ![]X# C`(3-7( & B+(1&13'&B*-*'C *60()10(:( :25= (98&/2'/=92 & 6&*+*7&02A (98&/2'/*1.'& *6+&4& .= 1(+&' 9&6&B 12 9(P(0= .2

-*/-=1* 9(5:&021&> 1&/& = :*<(;( 7<2 &1(32 K&:2> :2@ ./*/&12 '&+*;2/(9( <(+2'* *< -926&:(+&)/(A*/=<( = 1027*:&; <2+&;( (+=5&02 1( 9(5:*0 9&62 *< &'92> <=8*:1*7 & .:2/*:1*7> 9(P(102 &*61(:+0(102

!^# 6/(A3'( 3'2B)-&1(9 W(01(-3(+*9 ![][#L;"# ,F (/9&0=; *'* '*7 .= .;2)/21& 9(5+&3&/&.(<9K(0&A 5&<*:& *< *-2'2 J.;210=02 .2 -*< *< *-2'2 & '(;21(L> 9&/;&5(4&0( */:*9&;(A <9:21(:&<1( '*1./9='4&0( '9*:(, !NG"# K21& .2 .( 5+&G*, T('&1&.,&> '*0( ;= 02 = *:*0 M(5& & 7+(:1& .(9(<1&'!!# j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e&/-.+ &1-./N(2C9 ?./+&19 ![;;#

JS+/*:( /2K10( <( 5(<*:*+0& -.&8* , .*4&*+*)'2 '9&/29&0=;2L ,F 02<1* *< 1(0:(K1&0&8 92)210(./(1(> ;1*7* -9&8:(/+0&:&02 *< X2 i*96&502*:&8A ./(1 J./(1 , (-(9/;(1L &;( .:2 (/9&6=/2 '=@2 ,

"!D



DH# S+:(9 S+/*

*.1*:( &;( TOT M*9;= *'* /29(.2> '*0( &79( =+*7= (/9&0=;(A ./(1*:& .= /('*P2 79=-&.(1& *'*:29/&'(+1&8 3:*9&)/( .( <12:1&; .:2/+*;!<# m*1K./-1( A7*/(1( U&+(1A/&0( 2 M.+3&1'&02 ,F -*.+2<102 S+/*:* <2+* 02 5(:9)21* D7*<&12 1('*1 .;9/&, 1(0:(K1&02 = S+/*:*; <2+=B 3-7(/(10. (,N&0.1-( = '*;2 @2 .2 +0=<& <*69* *.2@(/& ,

5(<*:*+02102 .*4&0(+1&8 & -.&8*+*)'&8 '9&/29&0=;(A *<(/+2 -9*&./&32 & 12<*7;(/&3(1 *<1*. -92;(*9/*7*1(+1*./&A S+/*:( 92)210( .= 121(;2/+0&:(> (+& &59(K21( & 1(./(:+0(0= 1*9<&0.'= /9(<&4&0=.-(0(0=@& *.*621*./ & '+(.&31*./> ;()/*:&/*./ & 1*9;(/&:1*./

"!G



D!# fVS? & r9=-( !H

]!# cJgT & 6/2B( !^

, cJgT Pc*1@/.3 J1-./1(-&*1(2a Ahg/KF&-.K-2/. T*A./1.R P,.p21(/*A1& '*1@/.3,*A./1. (/F&-.'-2/.R ,F 4&+0 *<9K(:(10( &1/291(4&*1(+1&8 '*1792.( 5( 1*:* 79(P2102 02 6*96(5( -9(:( .(:92;212 (98&/2'/=92> ( '*0( 02 = /*; -29&*<= :*<&+( 6&/'= .( 0('&; (1/(7*1&./&3'&;.1(7(;( ('(<2;&5;(A T*69(P=0= -9*6+2;2 '*02 -*02<&1(4 12 ;*K2 <( .(:+(<(T JX2i*96&502*:( <2M&1&4&0(L , I 9(5+*7(B!# fVS? /:9<& <( 02 (98&/2'/=9( =.+*:+021( -*+&/&3'&; & 2'*1*;.'&; -9&+&'(;(> /2 <( @2 .2 5(

-*./&5(102 :2@27 1&:*( ':(+&/2/( ;*9(/& *.+*1&/& 1( =1&:295(+1* -9&8:(/(102 9(4*1(+&5&9(1&8;2/*<( -9*&5:*<102> ( <( .2 -9& /*;2 12 =<(+0& *< ./:(91*./& &1<=./9&0(+&5*:(1*7 .:2/("# fVS? &./&32 -*/926= -+(1.'2 -9&:92<2 & &1<=./9&0(+&5(4&02I# fVS? 5(7*:(9( =:*P2102 1*9;(/&:1&8 ;29( & 2M&'(.1&8 ;2/*<( -9*&5:*<102> '(* -9:& '*9('

-92;( 9(4&*1(+&5(4&0& 79(P2:&1.'2 &1<=./9&02, &1/291(4&*1(+1& '*1792.& .+=K2 5( 1*:* 79(P2102 & M*9;&9(102 <(1()102 (98&/2'/=92, *31&7(10. cJgTL( ![":# *51(3(:( B*H.-(' C('(A.,3'.C e(G. ,*A./1. (/F&-.'-2/.> /0#

=./*+&3(:(102 *1*7( )/* 02 .&;6*+&31* -92<./(:+0(+( &G+*>N( Y.&3.1F*e3&.A+21@9 !["X#J1(.2+02 W(05218*ML 5( T1*:= /9(<&4&0=T .( &1/291(4&*1(+1&; -92<51('*;, fVS? 02 *.1*:(1 1( &1&4&0(/&:= -*'9*:&/2+0'2 =;2/1*./& 5+.1 A. T(1A/* J*1( 02 -*5:(+('92(/&:12 <=8*:2 = .:*0 5(;(' = X( \(9(5=> & -*.+2 '*1.=+/(4&0( .( r&<&*1*; & X2i*96&502*; <*)+* 02 <* *<9K(:(10( .(./(1'(L, = -29&*<= ![":#L;[# fVS? 02 -9*)(* '9*5 < e(G.4, B/7( PcJgT J L JJJR9 ![":#L<<# 6&+( 02 1(0<*7;(/&31&0(> 7<2 .= 1(0=/&4(01&0& 6&+& 12;(3'&(98&/2'/&> -9&-(<1&4& T1*:2 *602'/&:1*./&T, A/2@( PcJgT JD L DR9 ![<<#L]X# *62+2K21( 02 <*;&1(4&0*; X2 i*96&502(> '*0& 02 ('421(/

-*;29&* 1( =96(1&5(;, -/.\( PcJgT DJ L IR9 ![]X#L;[# *62+2K21( 02 -92<*;&1(4&0*; +&629(+ , &<2(+&./&3'&8

/21<214&0( 1(< ;(/29&0(+&./&3'&; &5 :92;21( *.1&:(10(, B/7( e(G(4, cJgT J P'*1@/.3 2 G(,'2 5+.1 A. T(1A/*9 E( W(/(G9 n7(0K(/3'(9 ![":#R, *.1&:(3'& '*1792.A -92<.2<1&' m(/+ T*G./> .2'92/(9 f# 6&A&*1, /2;2B =/&4(0 /281&'2 1( (98&/2'/=9= P7*A&-.+0 E. m*/N&G0.R> ./(1<(9<&5(4&0( J7*A&-.+0 5/13-T(0> 2'*1*;&0( & (98&/2'/=9( P7*A&-.+0 M(13 n,&-R> =96(1&5(; P7*A&-.+0 g1A/. E&/3(R>'=+/=9( ./(1*:(10( J7*A&-.+0 5/13- T(0R> <9K(:( & (98&/2'/=9( J7*A&-.+0 M# `# ?./+(@.R J*<1*.(98&/2'/=92 & /281&'2> 2'*1*;&02> <9K(:2> ./(1<(9<&5(4&0(> =96(1&5(;A 52;+0&)1( -*+&/&'( 5(92)(:(102 8(*/&312 -*<2+2 52;+0&)/( J=.+2< '=-*-9*<(02 & 1(.+2P&:(10(LA *.+*6(P(102 *<./29&+1&8 =/&4(0( ('(<2;&0( & 10&8*:&8 5(./(92+&8 M*9;=+(L

, 925=+/(/B CA.'+(/(K&0( &G E( W(/(G(C J-*/-&.(+* 02 "D (98&/2'/2 &5B ]9(14=.'2> u:(04(9.'2> b2;(3'2> [*+(1<&02> V/(+&02> u-(1&02> S=./9&02 & Y2+7&02L ,F &./&32 79(P2:&1(9./:*> ( 12(98&/2'/=9= '(* 2+2;21/(91= <2+(/1*./ 3*:2'( J/2.1* -*:25(1= .( 2:*+=4&0*; +0=<.'*7K&:*/(LA (98&/2'/=9( 02 =.+*:+021( -*+&/&3'&; & 2'*1*;.'&; -9&+&'(;(> /2 .2 ;*9( *.+*1&/&> =4&+0= -*./&5(10( ':(+&/2/( 1( =1&:295(+1* -9&8:(@212 9(4&*1(+12 ;2/*<2 -9*&5:*<102A .=)/&1(=96(1&5(4&02 02 = M=1'4&*1(+1*; 92<=, cJgT JJ P'*1@/.3 2 U/(1'e2/-29 j.,(H'(9 !["[#R ,F 6&* 02 = ]9(1'M=9/= 56*7 ('/=2+12./(;6212 &579(<102 J_91./ ?(0 , 1(0:2@& 2:9*-.'& 2'.-29/ 1( -*<9=30= .*4&0(+12 ./(;6212&579(<102L, *97(1&5(/*9B 5/13- T(0, M*9;=+&.(1& .= 4&+02:&B =/:9<&/& -9*6+2;2 (98&/2'/=92 , M*9;=+&.(/& &<20= ;*<2912 (98&/2'/=92 ,

-9*)&9&/& *:= &<20= = .:&; *6+(./&;( K&:*/( , -9(/&/& 92)(:(102 (98&/2'/*1.'&8 -9*6+2;(

"!Q



D!# fVS? & r9=-( !H

, /2;2B ./(1 5( K&:*/1& ;&1&;=; J7*A&-.+0 5/13- T(0R> 5(<(/(' & *./:(92102 ;&1&;(+1*7 ./(1(J7*A&-.+0 M(13 n,&-R> -9*79(; ;&1&;(+1*7 ./(1( J7*A&-.+0 D&'-*/ ?2/>*(GR> .*4&*+*)'&(.-2'/& ;&1&;(+1*7 ./(1( J7*A&-.+0 D(+-./ 6/*B&023R> (1(+&5( /2;2+01&8 2+2;21(/( P7*A&-.+0E. m*/N&G0.R> 79(P2:&1.'& -9*-&.& & ;&1&;(+1& ./(1 P7*A&-.+0 M(13 n,&-R J./(1 5( K&:*/1&;&1&;=; J;&1& ./(1L , M=1'4&*1(+1& .*4&*+*)'& & 1*9;(/&:1& (.-2'/&L

, 925=+/(/B :(K(1 92M29(/ CW-(1 G( ,&1&,2, .@G&3-.1K&0.C, &G+*>N(4 !^^ B/*0.'(-( ,&1&,(+1&F 3-(1*7( J49/2K& = &./*0 9(5;29&L, =./(1*:+021& .= *97(1& fVS?,(B '*1792.> fVRaS\ J;2P=1(9*<1& '*;&/2/ 5( 92)(:(102

-9*6+2;( .(:92;212 (98&/2'/=92L> 9(<12 79=-2 J(98&/2'/& & ./9=310(4&> 1(4&*1(+12 .2'4&02 J-9:& -=/ =32./:=0=B S+:(9 S+/*> W(+/29 r9*-&0=.L, cJgT JJJ P'*1@/.3 2 ?/&3.+29 ?.+@&0(9 ![<^#R, *97(1&5(/*9 D&'-*/ ?2/>*(G> -92<.2<1&' m*/1.+&023 7(1 53-./.1 J-9*M2.*9 i# ?*529=./=-&* ;2./* ;+(P2; & /* =96(1&./&> ( 12 (98&/2'/& ,F -9*;21( /21<214&0(A 9='*:*<&+(4 6&9*(5( -+(1&9(102 S;./29<(;( , =96(1&./(L, /2;(B 9(4&*1(+1& .&./2;& &579(<102 J:&.&1( & 9(5;(' 6+*'*:( = 4&+0= 2M&'(.1*7 '*9&)@210(52;+0&)/( & ;(/29&0(+(L

, &G+*>N.4 /(K&*1(+1( @/(A10( & C8G(/.1& @/(AC E. m*/N&G0.(

, A/2@( e(G(4, cJgT JD P'*1@/.3 1( N/*A2 T(/3.0Lg-&1(LT(/3.09 ![<<#R ,F 6&* 02 :&)2 <*7;(/.'& 127*

-9('/&3(1A <(+2'* *< 5(/271=/2 -*+&/&3'2 .&/=(4&02 & 92(+1*./& &1<=./9&0.'2 _:9*-2, '*1792. 02 *<9K(1 1( 69*<= J1( -92<+*7 ?/*0./(R> 029 -9&+&'2 1&.= <*5:*+&+2 <( .2 *<9K& =?*.':&> '(* )/* 02 -+(1&9(1* J!G,/*<12:1* ;2<&/29(1.'* '9./(92102> 12M*9;(+1( (/;*.M29( 1(

69*<= 793'2 69*<(9.'2 '*;-(1&02LA <*;&1&9( X2 i*96&502 & ]9(14=5&> ( 12 b2;4&, /2;(B M=1'4&*1(+1& 79(< J-+(1&9(1 & .8:(@21 625 -*51(:(10( .-24&M&31&8 M=1'4&0( 79(<(LA

-92521/*:(12 .= '*;-(9(/&:12 (1(+&52 ID 2:9*-.'( 79(<( JS;./29<(;> ###L, 925=+/(/B Cg-&13'( B*7.+0(C> *60(:+021( -.' ![]<# J&5;2P= *./(+*7 .(<9K& !!! -92<+*7( ,<2+*; &5:2)/(0& * -*./*02@2; ./(10= 79(<*:(> ( <2+*; -92<+*5& 5( 10&8*:* -*6*+0)(102> -92;(G *6+(./&B !# M=1'4&*1(+1* 5*1&9(102 .( 52+21&; -*0(.2:&;( &5;2P= 5*1( JG M=1'4&0( 5*1&9(10(B./(1*:(102> 9(<> 92'92(4&0(> .(*69(@(0> *3=:(102 &./*9&0.'*7 1(.+2P(LA "# :&.*'> -9*./9(1./(;621& 6+*' , '(* 02<&1& /&- 79(<.'&8 ./(;621&8 *602'(/( , 5( .;2)/(0 :2+&'*7 69*0( +0=<&/(;* 7<2 /926(> -92;(<( 02 -9&8:(/(102 S/&1.'2 -*:2+02 ;*K<( & 51(3&+* .-=/(:(102 <(+0&8&./9(K&:(10( (+/291(/&:1&8 ;*<2+( ./(;6212 &579(<102> 1* &-(' 02 <*)+* <* -9*;212 *:(':*7./(:(, cJgT D P'*1@/.3 2 `(/&G29 U/(1K23'(9 ![<X#R, *<9K(1 02 5( :92;2 \:2/.'2 &5+*K62, /2;(B ./(1*:(102 & 92'92(4&0( J.+*6*<1* :92;2A =5&;( .2 = *65&9 =+*7( *'*+&12L

, &5:2)/(0&B *60()102102 -9&14&-( PE. m*/N&G0.R> 79(<*:& JM*G. E2&3 W./-R, &G+*>N(4 /(A*7& E. m*/N&G0.( 2 C`(7&+0*12 1*7*@ 7/.,.1(C, -92<:&P21* 02 6&+* 1( W '*1792.= <( WV 6=<2 *<9K(1 = \SZ Jr9*-&0=.> ?&8*+0&,b(P>r&<&*1LA <*)(* 02 9(/> -( .= .2 79=-2 fVS?,( 9(5<:*0&+2> (+& 02 .:('( 1(./(:&+( .:*0 9(<B b0=c*9'> [*+(1<&0( J/(01* .2 .('=-+0(+& & -9&-92;(+& *61*:= R*/29<(;(> )/* 02 '(.1&02 & =9(P21* -*10&8*:&; -92<+*5&;(LA _17+2.'( , &./=-( ?SR\ .( -92<+*5&;( 5( 79(<*:2 & 1*:*5('*1*<(:./:*

, -/.\( e(G(4, cJgT DJ P'*1@/.3 2 ?/&A>7*-./29 Z2>1( 51@+.3'(9 ![]X#R ,F /926(+* 02 -*1*:*=.-*./(:&/& ;2P=1(9*<12 '*1/('/2

, *97(1&5(/*9B @/2B( TgOW J*.1*:(1( !NI"#L, -9:& -=/ =32./:=02 72129(4&0( ;+(P&8 (98&/2'(/(

"!E



D!# fVS? & r9=-( !H

, -9:& -=/ 02 <*/('1=/ -9*6+2; 79(<.'*7 421/9(, 5('+0=3('B 9(<&/& 1( *./:(9210= 3*:2'*:2 M&5&3'2 *'*+&12 '*0( *./:(9=02 1027*:2 2;*4&*1(+12

-*/9262 & ./&;=+&)2 <=8*:1& 9(5:*0, cJgT DJJ P'*1@/.3 2 ?./@(,29 J-(+&0(9 ![][#R ,F &/(+&0(1.'( 79=-(A 12.+(7(10( &./*'( &5(-(<(A -&/(102 2./2/&'2 &5(5&:( :(/9212 <&.'=.&02

, /2;(B -+(1*:&> *61*:( & 92'*1./9='4&0( 79(<*:( Jb(1@. L M&/*)&,(R, 8+(<1*9(0/*:.'( (/;*.M29(B -*+0.'( <2+27(4&0( &1.&./&9( 1( =79(<10& 12'&8 \/(+0&1*:&8T/2*92/.'&8 -*./(:'&T = -9*79(; fVS?,(, cJgT DJJJ P'*1@/.3 2 M.A3-*129 N+&G2 E*1A*1(9 51@+.3'(9 ![;!#R, *97(1&5(/*9B @/2B( TgOW JT+0=<& K2+2 <( 579(<2 '*02 92-92521/=0= 10&8*: <9=)/:21& &'*+2'/&:1& K&:*/ -9=K(0= :2@2 M=1'4&*1(+1* .(:9)21./:*A /2K2 ;*1=;21/(+1*./&> 9(<*./&>

-*1*.= , 0(:12 579(<2> ###TL, /2;(B CW/K. @/(A(C ,F 421/(9 .2 & <(+02 /92/&9( '(* M=1'4&*1(+1( 5*1( '*0( -9&:+(3& .:*0*;.-*1/(1*)@= J%(1<&7(9 = .'&4(;( , -9:& -=/L, 0(:1* -9&51(102 12'&8 ;(10'(:*./& S/&1.'2 -*:2+02, ;+(P( 72129(4&0( 127*<=02 1( &<2(+&5(; X2 i*96&502(> r9*-&0=.(> :(1 _./2921(> \29/(> R*/(>

?(02'(:2, cJgT JI P5'3L(1L`/*7(139 U/(1K23'(9 ![;<#R ,F -92.=<1& 9(.42-, /2;(B M(N&-(- J+0=<.'* *6&/(:(+&)/2L, 1*:( 72129(4&0( JW,&-3*1*7& J69(31& -(9L9 g+A* 7(1 g0'9 ?('.,( J-*./(:+021 5(9='*:*<&*4(L9 m(1A&+&3R *.-*9(:( M=1'4&*1(+&./&3'2 '(/27*9&02 TS/&1.'2 -*:2+02T J./(1*:(102>9(<> *<;*9> ###LA =;2./* 1*:*7 .&./2;( (-./9('4&0(> *1& 1(./*02 <( -9*1(P= 79(<&/2+0.'2

-9&14&-2 =96(1*7 9(5:*0( & =/:9<2 .+2<2@= 02<&1&4= &51(< -*9*<&312 @2+&02A *1& &./&3= T&<21/&/2/T'(* :(K1= =96(1= '(/27*9&0=A 127*<=0= 1( &<2(+&5(; X2 i*96&502(> r9*-&0=.(> R*/( &?(02'(:2> ###, *1& *31&7(02 6/2B2 !^ PCb.(, ICR .( 5(<(/'*; -9&-92;2 1(9*<1*7 '*1792.( fVS?,(A/&;2 9(.'&<(0= .( .21/&;21/(+1*)@= ./(92 7(9<2 & .( 9(4&*1(+&5;*; TM=1'4&*1(+1*7 79(<(T, cJgT I P=2N/*71&'9 Z2@*3+(7&0(9 ![;S#R ,F &3-2B( 6/2B( !^, /2;(B M(N&-(-, 4&+0B =/:9<&/& *.1*:12 -*./(:'2 .&1/252 .:&8 -9*6+2;( :25(1&8 5( K&:*/ & ./(1*:(102 J=5(0(;1&*<1*.& &5;2P= M&5&3'*7 *6+&'( & K&:*/1&8 -*/926(L, 3(3-(1(' 2 8-./+*29 ![;[#, *<9K(1 = :(1 <2 W2+<2*:*; ;=520=> =5 1027*:* -9&.=./:*, 9(.-=)/(102 fVS?,(, X2 i*96&502 = -&.;= =-=@21*; i*1792.= = Z=69*:1&'= -9&51(02 & -*/:9P=02 <( 1*:(72129(4&0(> 72129(4&0( /*7 :92;21( 1(06*+02 ;*K2 *.2/&/& ('/=2+12 -9*6+2;2> 4&+02:2 '*0&;(/926( /2K&/&> 1(3&12 1( '*0& .2 ;*7= *./:(9&/&# p1& .= =-=@21& = .:2 /*> <*' 10&8*:& -92/8*<1&4&

/* :&)2 1&.=> *1& .= &5:(1 /*7( & 12 ;*7= :&)2 92(7*:(/& 1( 1*:*1(./(+= .&/=(4&0=, 6/2B( !^ Pb.(, IR ,F 1() B/.A3-(71&'4 g+0*)( Z*3&\> .( /&;*; .(9(<1&'( J;2P= '*0&;(.= 6&+& & 1027*:& 12/(+21/*:(1& .&1*:&LA 9(<*:&B W-2A.1-3'& A*,9 W-(,N.1& N+*'*7&i B*N.A&*1( -/& '*1'2/3(, cJgT JI9 5'3L(1L`/*7(139 ![;<#, 1*:( 72129(4&0( (98&/2'(/( JN/(H1& B(/ W,&-3*19 g+A* 7(1 g0' & A/2@&R> *.-*9(:( DM=1'4&*1(+&./&3'2 '(/27*9&02 S/&1.'2 -*:2+02B ./(1*:(102> 9(<> 92'92(4&0(> .(*69(@(0A =;2./*/*7(> *1& -92<+(K= <(+2'* '*;-+2'.1&0= =96(1= ./9='/=9=> '*0( 6& /926(+* =.-2)1&02 <(*<7*:*9& -*/926& 5( &<21/&/2/*; , 1(./*02 <( =/:9<2 -924&51&02 *<1*.2 M&5&3'*7 *6+&'( &<9=)/:21* , -.&8*+*)'&8 -*/926(A *:* -*./(02 /2;( .+2<2@27 fVS?,(

"!C



D!# fVS? & r9=-( !H

, cJgT I9 =2N/*71&'9 ![;S#, @/2B(K&0( W,&-3*1*7&9 7(1 g0'9 ?('.,(9 m(1A&+&39 D2A39 D.+'./9 M(2.+*7& & E2&3 m(1&./=-( '(* Cb.(, IC> )/* *51(3(:( .+=K621* 9(.-=)/(102 fVS?,( JB*-7/p.1* ![;[# 28-./+*2R

, /(G7*0 6/2B. !^4, .92<&1*; GH,/&8 7*<&1( +*1<*1.'( '=+/=91( '+&;( -*<+*K1( 02 =/&4(0= -(9&.'*7275&./214&0(+&5;(> )/* -92.=<1* =/&32 1( -*+2;&3'& /*1 r9=-2 !H> '(* & 1( ./:(9(102

69=/(+&./&3'*7 -*'92/( JM*/*79(M&02 =+&31*7 +*1<*1.'*7 K&:*/( e*-*@/(e( M.1A./3*1(> 1027*:(;*@ 5(-(K(10( -92.=<1* .= =/&4(+& 1( 69(31& -(9 \;&/.*1 J*1& .= &5+*K&+& /2 M*/*79(M&02 = _'.,(1,a9*:(1.=LLA =;2./* =96(1&8 M=1'4&0( fVS?,(> \;&/.*1*:& -92<+(K= M21*;21*+*)'2'(/27*9&02 '=@2> =+&42> *-)/&12 & 79(<(!# `/*0.'(- 3-(,N.1*@ '*,B+.'3( 6*+A.1 E.01 L g+&3*1 & `&-./ W,&-3*1 J-9&;21021 & 1(421/(9 i*:21/9&0(L ,F T'=@(T , -*9*<&31( 02<&1&4(A T=+&4(T , .&./2; 7(+29&0(A T*-)/&1(T & T79(<T=52/& .= 92(+&./&3'&> (+& 625 0(.12 M&5&3'2 *<92P21*./&, -9*/&:=9231*./ J\;&/.*1*:& 02 1&.= .:2.1&LB (=/*9& )2;*; Tr*+<201 X201T .(;* 5(;210=0=

'*142-/ Tp5(921*7 79(<(T , 12.&;2/9&31*;> 79(1(/*; ./9='/=9*; 12=.-2)1* 1(./*02 <(*./:(92 *.2@(0 K&:*/1*7 (;6&021/(, T'=@2 = :(5<=8=T 12 ;*7= &;(/& <:*9&)/( :25(1( 5( =+&4=> 1&/& =+&4( *<&71=/( *< /+( ;*K2

6&/& 421/(9 '*+2'/&:1*7 K&:*/(A 12.&;2/9&31*./ & 02<1*./9(1*./ /&8 =+&4( 1(7+()(:(+( 02 +&12(91*./'*0( 12 ;*K2 ./:*9&/& *.2@(0 K&:*/1*7 (;6&021/("# j(3.+0. `(/' M&+ L =>.' E&1 & g07*/ W,&-9 n.e&+A9 ![S!# ,F *./:(92102 '*142-4&02Tr*+<201 X201T ,F .:& 12<*./(/4& '*142-/( -*./(0= 0(.1&, .:2.1& *79(1&3210( '*142-/(> \;&/.*1*:& 5('+0=3=0= <( .2 1( :&.&1(;( &51(< )2./*7 .-9(/(7=6& .:('& '*1/('/ .( /+*;> -( .2 *'92@= 1&.'*2/(K1*0 ;27(./9='/=9& :2+&'2 7=./&121(.2+021*./&> '(* 1(0-9&'+(<1&0*0 M*9;& -*9*<&31*7 ./(1*:(10( J/= '9&/&3'= .:2./ \;&/.*1*:& .=

0*) :&)2 =/:9<&+& B/*0.'-&,( '2\( 3.*3'*@ -&B( JT56&0212T & T-9*92P212T '=@2L & 2'*+*)'*;(97=;21/(4&0*; <( [(6&/(/ /926( ='+*-&/& = '9(0*+&'> ( 12 &5<:(0(/& &5 1027(L<# T.@(3-/2'-2/( L ?('.,( & 7(1 A.1 ?/2'9 b.+ g7&79 ![S<# ,F Z('*N ?('.,( 1&02 6&*

-9*/&:1&' -+(1&9(10( = /9(<&4&0& T1*:2 *602'/&:1*./&T J'=@2 = 1&5=> .+*6*<1*./*02@& 6+*'*:& 02<1('2 :&.&12> *-/&;(+1& 9(5;(4&> ###LA =7+2<(* .2 1( -+(1 c=K1*7 S;./29<(;( & 8*+(1<.'2M=1'4&*1(+&./2 J*'* \/(;(LA ;2P=/&;> &-(' 2'.-29&;21/&)2 .( &59(5&/&0&; ;*<=+&.(102;*.1*:2> 79=-&.(102; = T.=.2<./:(T *'* 0(:1&8 *602'(/(> & .+&31*A 1( 1027*: 9(< 1(9*3&/* =1027*:*; B/*0.'-2 G( b.+ g7&79 ![S<# .1(K1* 02 =/&4(* X2 i*96&502*: -9*02'(/;27(./9='/=91*7 6+*'( p6=. 5( S+K&9 &5 !NI!#> '(* .92<./:* 5( =1*)2102 .'+(<( = 9()/9'(1&*6+&' 79(<(]# `/*0.'(- A.H&0.@ A*,( L g+A* 7(1 g0'9 g,3-./A(,9 ![;X#LS^# ,F 9(5:&0( T(;6&021/(+1&

*6+&'T 1( *.1*:(;( .*-./:21&8 (1/9*-*+*)'&8 5(-(K(10( * =1&:295(+1*./& +0=<.'2 <=8*:1*./&J3*:2' 02 =:2' & .:=<( &./&A &./& <=8*:1& &1:21/(9 *1 9(5+&3&/* '*9&./& = .'+(<= .( =.+*:&;(K&:*/(LA *1 -*./(:+0( /2;2+02 T./9='/=9(+&5;(T ./:(9(0=@& 79(< = ;(+*; & <2;*1./9&9(0=@& .:*0

-*0(; T+(:&9&1/.'2 0(.1*@2T ;2P=.*61&; *<1*.*; 02<&1&4( -*< &./&; '9*:*;A *1 02 02<(1 *< -9:&8 (98&/2'(/( '*0& =*3(:( ;*<291&./&3'* =1&)/2102 ./&+( & (;6&021/(> *'9&:+0=0=@& 5( /* 625*6+&31*./ .(;*7 <9=)/:(> '*02 02 1(./(+* 7=6&/'*; /9(<&4&*1(+1*7 & <=8*:1*7 &59(5( J<*'.2 r9=-( !H *<+&'=02 -*+2/1&; 1(&:1&; *-/&;&5;*;> 7(1 g0' 02 '9&/&3(1 .( <*5*;

-2.&;&5;(> ;*K<( 5(/* )/* 02 02<&1* *1 &;(* (1/9*-*+*)'* &.'=./:* , 6(:&* .2 -9&;&/&:1&;'=+/=9(;( & 625:92;21.'&; (.-2'/*; 79(P2:&1( /&8 '=+/=9(L, <* !NQ"#,QI# 5(:9)(:( .2 M(5( '92(/&:12 '9&/&'2 fVS?,(> ( -*0(:+0=0= .2 1*:( &;21(B;# m*1'2/3'& /(A G( U/(1'e2/- & O.,./N./@ L =>.0,3 D2A39 ![S<# ,F (;29&3'& (98&/2'/(> =

-9:*0 M(5& Tr9=-2 !HT 6&* 02 -* ./9(1&A *:(0 1027*: 9(< -92<./(:+0( *<7*:*9 1( :(1 S0'*: -*5&: 5( T+(:&9&1/.'= 0(.1*@=T , 5(;9)21( '*1M&7=9(4&0( ./(1*:(10(> /97*:&12> -*.+*:1*7 &

"!N



D!# fVS? & r9=-( !H

0(:1*7 -9*./*9( J.( <:*2/(K1&; .=/2921*; = '*;2 .= =.+=K12 <2+(/1*./& & 7(9(K2LA -9*02'(/ .2 6&/1* 9(5+&'=02 *< &<20( \;&/.*1*:&8 &+& Y('2;2> -92 .:27( -* /*;2 )/* =.-*./(:+0( +*7&31=:25= .( -*./*02@&; =96(1&; '*1/2'./*; & 1(./(:+0( /9(<&4&0= =96(12 '=+/=92 J*<6(4=02 ;*<2+2TM=1'4&*1(+1*7T & T*/:*921*7T 79(<(A *:(0 -9*02'(/ 02 9(<&* .( 6/'*, m(1A&+&3*, & 1()&;g+0*)*, Z*3&\.,A 10&8 /9*04( .= &1(32 .;&.+&+& -(12+1& .&./2; ./(;6212 79(<102

S# `+(1 l/N&1( L A. m(/+*9 ![S]# ,F &/(+&0(1.'& (98&/2'/( 1(<*-=10=02 W=<.*:= )2;=A -+(1 02:&)2 -*.:2@21 5()/&/& & *61*:& -*./*02@27 127* 1*:&; 79(<10(;(> 1(./*0& <( -9*1(P2 1*:2;*7=@1*./& '*9&)@210( -*./*02@27 M*1<( 579(<(A /&;2 02 Tr9=-( !HT <*./&7+( -*/-=1= (1/&/25='(9/25&0(1.'&8 -9&14&-( X2 i*96&02*:*7 p5(921*7 79(<(

, G1(H(0 C6/2B. !^C ,F -92 .:27( .=72./&:1( .1(7( '=+/=912 '9&/&'2 :&)2 127* 10&8*:2(98&/2'/*1.'2 :&5&02, r9=-( !H 02 &5627(:(+( ;2)(102 = *6+(./ -*+&/&'2> (+& .2 /* &-(' <2.&+* 1( ,&+(13'*,-/&0.1(+2 ![S:#> '(<( 02 D2A3> .*+&<(9&)=@& .2 .( 9(<&'(+1&; ./(:*; ./=<21(/( -*;*7(**<6(4&:(10= 3(' :+(./&/*7 9(<(A *1 7*:*9& * *<1*.= &5;2P= /281&'2 '*0*; 4&:&+&5(4&0(9(.-*+(K2 J*9=K02> 9(<&*> qW> ###L & .:2 9=<&;21/(91&0&8 1(./(;6&B Tb()( .= *9=K0( .:2

.(:9)21&0(> ( 1()2 1(./(;62 .:2 123*:231&02TA .+&31*; /2;*; .2 6(:& & A. m(/+*B Ts()/* .:&;

.&+(;( 1(./*0&;* .:2./& ./(;6212 -9*./*92 1( ;&1&;(+1= -*:9)&1=> <26+0&1=> -*/9*)10=;(/29&0(+(> ### =;2./* <( -92<=5;2;* .:2 '('* 6& .;* 79(<&+& -9*./9(12 1(./(;62> <*69*5()/&@212> 9(51*:9.12> =<*612 & <*69* *-92;+0212> '*02 6& -9=K(+2 ;('.&;(+12 =.+*:2 5(

-9&:(/(1 & <9=)/:21& K&:*/A *-9(:<(102 = .;&.+= 12<*./(/'( M&1(1.&0.'&8 .92<./(:( 0212-9&8:(/+0&:*> '(<( .2 51( '*+&'* 1*:4( .2 /9*)& 1( 9(/*:2> -9*&5:*<10= *9=K0(> -9*02'/2 5(&./9(K&:(102 ?2.24(> 82;&0.'&8 .92<./(:(> ###, -92;( A. m(/+2> ./=<21/.'( -*6=1( !NQC# 1&02 .(;* 1=K1( '=+;&1(4&0( '9&52 =(98&/2'/*1.'*; *69(5*:(10=> 127* & *<9(5 ;1*7* <=6+027 & *56&+01&027 12.'(<( &5;2P=(98&/2'/*1.'2 /2*9&02 & -9('.2L g+0*)( Z*3&\!# m*1'2/31& /(A G( U/(1'e2/- & O.,.,N./@ L G(0.A1* 3( D2A3*, & m(1A&+&3*,9 ![S<#"# W-(,N.1( 1(3.+0(9 T(/*'*<# W-(,N.1* 1(3.+0.9 b2+2G +. T&/(+9 ![S!# ,F +(;2+( = :&<= <=7(3'2 +&1&02 .2 +*;& ,9(579(1(:( '(* ./(6+* 1( 79(12 J*:(0 .&./2; -9*02'/*:(10( &1(32 .2 5*:2 T./(6+*TLA 1( ;2./&;(

-92+*;(> .=32+0(:(10(> ### 79(1( .= T=<=6+0210(T 5( 5(02<1&3'2 .(<9K(02 J'=+/=91& 421/9&> /2921& &.+#LA 1(.2+02 02 &1(32 1( -+(/*= 7<2 12;( .(*69(@(0(> ( *'9=K21* 02 .( <:( <* /9& ;(7&./9(+1(

-=/(]# W-(,N.1( G@/(A(9 b/@ j&'*+. `()&\( N/# : P&+& !^R9 ![X:# ,F 10= -9*02'/=02 -* -*:9(/'= &5]9(14=.'2 = '*0= 02 &5627(* !NDC# & -9:& -=/ .2 :9(/&* 1('*1 IH 7*<&1(;# W-2A.1-3'& A*,

, <*<(/(' , *79(14& fVS?,( = .:2/= J:&<2/& V1/291(4&*1(+1& ./&+L

""H



D"# b*:& 69=/(+&5(;

]"# j*7& N/2-(+&G(,

, 1*7& N/2-(+&G(, P51@+.3'(9 ![][#L;[#R ,F 1('*1 <9=7*7 .:2/.'*7 9(/( W2+&'( Y9&/(1&0( 02 -9*K&:+0(:(+( -*.+2<102 /921=/'2 .:*7 &;-29&0(+&./&3'*7 &<21/&/2/(A 125(:&.1*./ V1<&02 !NDG#*51(3&* 02 -*32/(' 9(.-(<( V;-29&02> ( '(.1& .='*6 '*0& .2 56*7 2'*1*;.'2 '9&52 ;*7(*

-*0(:&/&> =6+(K21 02 9(<&'(+1&; .*4&0(+1&; ;29(;( +(6=9&./&3'2 :+(<2 J+2:&4(L, ./(102 = 217+2.'*0 -*.+29(/1*0 (98&/2'/=9&B +2:( +(6=9&./&3'( :+(<(> 12<*./(/(' M&1(1.&0( &'=+/=912 -*<9)'2 5( ;*1=;21/(+1* &59(K(:(102A 5('*1&B * )'*+./:= J'*0&; .2 *6(:251*)'*+*:(102 -9*<=K(:( 1( !G 7*<&1(L & * 1*:&; 79(<*:&;( J'*0& .= /926(+& &57+2<(/& '(* W9/1&Jr(9<21 f&/dLL ,F &579(<10( ;*1/(K1&8 )'*+(A 10&8*:( (98&/2'/=9( 02<1*./(:1*7> 92<='*:(1*7./&+( = *-24& .( 6+(7* '*.&; '9*:*:&;( 1(./(+( 02 -* =7+2<= 1( .+&3(1 )7.A3'& =5;(' *<*9/*<*'.12 ;*<2912 , -G7# C1*7& .,B&/&G(,C> ( = 51@+.3'*0 <*6&0( 1(5&: C1*7&F2,(1&G(,C, ;+(P( 72129(4&0( *<6(4=02 *:('(: '*142-/ '(* ;(+*79(P(1.'&> & -*./2-21* M*9;&9( 02<(11*:& 2./2/.'& .&./2;> '*;2 <(0= &9*1&31& 1(5&: C1*7& N/2-(+&G(,C J'*0& 1*.& -(+(<&1(0.'=

/21<214&0=L, &G+*>N( C`*/.p.10. >&7*-( & 2,.-1*3-&C> *97(1&5(/*9 J13-&-2- 3(7/.,.1. 2,.-1*3-& 2E*1A*129 ![;<# J&5+*K6( M*/*79(M&0( = 591(./*0 ./9='/=9&> .( .421(;( 1(.&+0(> &5*6+&321*7+0=<.'*7 /2+(L ,F 0(:1*./& 02 -92<./(:+021 &5:*91& .215&6&+&/2/ -*'92/(> .29&0*; M*/*79(M&0('*0&;( .2 &1.&./&9( 1( :&P210= .:2/( *-=./*)21*7 9(/*;> -9*-(<(102; & 6*+2)@= J e*-*@/(eM.1A./3*1 '*0& @2 6&/& &1.-&9(4&0( W,&-3*1*7&F J1027*: 9(< & 1027*: K&:*/LLA 1( .29&0&1(92<1&8 &5+*K6&> *1& *.4&+&9(0= &5;2P= 5(&1/292.*:(1*./& 5( K&:*/ 9(<1&3'2 '+(.2 &5(&1/292.*:(1*./& 5( -*/9*)(3'* <9=)/:*

, .+.,.1-& 1.*N/2-(+&3-&H'. (/F&-.'-2/.4 ,F `(+(A&* '(* <(+2'& <=8*:1& &5:*9> T&3 '(*<&92'/1& =5*9> :291*./ ;(/29&0(+= J'*0( .2 1(0-92 ;(1&M2./=02 = ;28(1&4&./&3'*; &

'*1./9='/&:&./&3'*;> ( -*/*; = T/('/&+1*;T .;&.+= , *<=)2:+02102 ?&.*; JCT&3 0. 7.+&'9 (+&E. m*/N&G0. '*,21&K&/(CR 5(;210=02 .2 *69(<*; E. m*/N&G0.*7*@ ;(1&9( T62/*1 69=/TLA'9(02; GH,/&8 <*+(5& <* '*1(312 &1/279(4&02 69&/(1.'2 69=/(+&./&3'2 2./2/&'2 , .-(0(10(M*9;(+&./&3'&8 & -*-=+&./&3'&8 (.-2'(/( = (/F&-.'-2/2 *B.'. & 3-('+(> 6+&.'= &1<=./9&0.'&;*602'/&;( UVU :#A = /* :92;2 -*'92/ 02 :2@ )&9*'* ;2P=1(9*<1* 9(.-9*./9(1021

L g+&3*1 & `&-./ W,&-3*1!# W/.A10( )'*+(9 M(13-.1-*19 j*/e*+'9 ![][#L;]# ,F -9:( 579(<( 1*:*7 69=/(+&5;(A 0(.1*

-92521/&9(1( ./9='/=9( & ;(/29&0(+ J= ?&.*:.'*; ;(1&9=LA &1./(+(4&02 &5+*K212 -*7+2<=A <2/(+0&/('* 69&K+0&:* /92/&9(1& '(* '*< ?&.("# `/*0.'(- B/*)&/.10( l1&7./G&-.-( 2 n.e&+A29 ![;<# ,F 02<(1 = .29&0& 12&5:2<21&8

'*1'=9.1&8 -9*02'(/(> '*0&;( .2 .( -(+(<&0(1.'2 -*./(:'2 -92+(5& = :*<2 '*1./9='/&:&5;(<# m2\( 2 W*F*29 ![;"# ,F ;(+(> = *-24&> .( 7*+&; 62/*1.'&; 1(<:9(/1&4&;( , 1(+&' 1(32/:*9*.-9(/1= '=/&0= .+&31= 69&/(1.'&; /97(*:(3'&; '=@(;( . '9(0( UVU :#]# m2\( N2A2\1*3-&9 ![;S# ,F -*9*<&31( 69=/(+&./&3'( .215&6&+1*./ '(* <( 02 -9*02'/*:(1( 5([21<29.*1*:*7 <262+0'( JM*/*79(ML ,F -9&'(5(1( 1( &5+*K6& TV<2(+(1 <*;T;# W-(,N.1& '*,B+.'3 C6*+A.1 E.01C J-9*02'(/L ,F :&.2@2 '=@2> =+&42 , 7(+29&02 ,F 1&02*<7*:*9 1( +0=<.'2 -*/9262

L =>.0,3 W-&/+&1@ ,F 9*P21 = X&:29-=+=A 1(05(13(01&0& 9(<*:& &5 .29&02 *-2'( h ./('+*B W.+7&1'*+.A>9 E.3-./ '*+.A>9 J3-*/&03'& e('2+-.- 2 m.,N/&A>2 & `(7&+0*1 U+*/.0 ,F '(* /&-*:&&579(<102 5( ;*<2912 (98&/2'/2

, 1&'(<( 1&02 -9&51(:(* -9&-(<1*./ 69=/(+&5;=> (+& 1027*:( M(5( GH,/&8 7*<&1( 12.=;+0&:* -9&-(<( *:*; -*'92/=

""!



D"# b*:& 69=/(+&5(;

!# W-(,N.1& '*,B+.'3 M., m*,*1 L 3( 6(2.1*,9 O&H,*1A9 ![;;#L;:# ,F .&1/('.( X2i*96&502*:2 '=@2 n(=+ J\/&9+&17 02 -9:* 6&* )*'&9(1 '=@*; n(=+> ( 5(/&; *<=)2:+021LA 5&< *<*-2'2> */'9&:21& 62/*1.'& 2+2;21/&"# b.F1&H'& e('2+-.-9 l1&7./G&-.- 2 E.3-./2 L 3( 6(2.1*,9 ![;[# ,F =/&4(0 5A7(/A(O.01*+A3( P/*N1( '2\(RA 9(5:&0( 42+*:&/ .&./2;B ('.*1*;2/9&0.'( /281&'( -9*02'/*:(10(> 0(.1*

&59(K(:(102 M=1'4&*1(+1&8 -(9/&0( ,F (.&;2/9&31& :*+=;21&> '*;6&1*:(102 ./('+( & *-2'2J+(6*9(/*9&0.'& (9;&9(1*,62/*1.'& 6+*' .( '9*:*; *< '9&./(+1*7 ./('+(A =/&4(0 X2 i*96&502(>.(;*./*02@& :29/&'(+1& 6+*' .( <:*9(1(;( 5( -92<(:(10(> +(6*9(/*9&0(;(> (<;&1&./9(4&0*;, *602'/& M('=+/2/( *602<&10=0= .:2 -9*/&:9231*./& 69=/(+&5;(B 2+2;21/& ;*<2912 h 2+2;21/&&1<=./9&0.'*7 & /97*:(3'*7 79(<&/2+0./:( X&:29-=+(A -*;*9.'& <2/(+0&B -(+=612 -923'2 &./2-21&)/(> :21/&+(4&*12 '(-2 <&;10('(<# J3-*/&03'& e('2+-.-9 l1&7./G&-.- 2 m.,N/&A>29 ![S]#LS:# ,F '*;-+2'.1&02 -9*./*91*

-*:25&:(102 , 56&0212 M=1'4&*1(+12 42+&12 .( 5(02<1&3'*; *-1*;A ./('+* & *-2'(A <:*./9='&/*9(10 .( +&M/*:&;( & ./2-21&)/2; 1&02 .(;* = .+=K6& (9/&'=+&.(10( =+(51*7 -9&./=-(> :2@ &/&-*+*)'* 92)2102 '*02 '(9('/29&)2 \/&9+&17*: 9(< ,F /* 02 .+=3(0 & .( 1027*:&; -*.+2<10&;*602'/*; J1(0;(102 =.-2)1&L &5 *:2 .29&02 *602'(/( *< ./('+( & *-2'2B `(7&+0*1 U+*/.0 G(

'*+.A> 2 8'3e*/A2]# W.+7&1 '*+.A> L 3( 6(2.1*, ,F -9:& -=/ .= -92<./(:&+& /2;= T-9*32+0(T 1(.=-9*/T-*5(<&12T '*0( @2 -*./(/& 10&8*:* '(.1&02 *62+2K02 J-=1 5&< k *./('+021 5&<L

L E2&3 J# m(1, = :2+&'*0 ;29& 6+&5(' 217+2.'&; 12*69=/(+&./&;( , &1/292.*:(102 5( .&9*:= -9&9*<= ;(/29&0(+( &&59(K(01*./ T.+=K2@&8T 2+2;21(/( .'+*-(, M*7.+9 m(/-./9 m&+&' , 79(<2 1&5 +.'*/N&G0.*73'&F 3-(,N.1&F 1(3.+0(9 ( 7/F21(K 0. g+-*1J3- 53-.0- ,F -(9*<&0( Tp5(921*7 79(<(T> .(79(P21*7 = O*.F(,B-*12 ![;:#

L 5A7(/A O.01*+A3 ,F 1027*:& ./=<21/.'& -9*02'/&> '*0& .= '*1./9='/&:&./&3'& :9+* 2'.-92.&:1& -92.=<1* .= =/&4(+& 1( 9(5:*0 69=/(+&5;(> -9:* 1( '*1'=9.1& 9(< M*7.+( & m&+&'( 5( %/H&+'*+.A> 2 m.,N/&A>29 ![;:#> ( 5(/&; & 1( W-&/+&1@*7 l1&7./G&-.- 2 E.3-./29 ![;[#!# O*N1( '2\(9 ![;:#"# W'+(A&)-.9 ?/&3-*+9 ![;:#

"""



DI# ?2/(6*+&5(; ""I

]<# T.-(N*+&G(,

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e./.1K&02 A&G(01(9 ![;:#LS^#A/*'*; QH,/&8 7*<&1(> = :92;2 2'*1*;.'*7 6=;(> -*'92/ 0(3( J& 92(7=02 1( -9*6+2; 0(-(1.'2

-921(.2+021*./&L> <( 6& '=+;&1(4&0= <*./&7(* 1( W7.-3'*0 &G+*>N& 2 83('& ![X^#, J A.'+(/(K&0( &G ![S^#4 C,.-(N*+&G(, ![S^# L B/.A+*@ G( 1*7& 2/N(1&G(,C Pm&'2-('. L

m2/*'(7( L T('& L 8-('( L g7(G2RA <2'+(9(4&0( *<9(K(:( ./(: <( .2 +0=<.'* <9=)/:* ;*9( -*.;(/9(/& '(* <2* -9&9*<12 42+&12 & &59(K(:( =:292102 <( 02 /281*+*7&0( -9*)&92102 J( 12*79(1&32102L 3*:23(1./:(, ;2/(6*+&./& 12 -+2<&9(0= 5( ./:(9(102 02<1*7 ./&+( J= :25& .= .( S98&79(;*;L> :2@ 1(./*02 <(.:*0= (98&/2'/=9= 5(.1=0= 1( M&+*5*M.'&; & '=+/=91&; -9&14&-&;( -9&.=/1&; = 0(-(1.'*;<9=)/:=B!# ̀ *'/.-+0&7*3-9 e+2&A1*3- g*61(:+0(102> 9(./> /9(1.M*9;(4&0("# M*,*@.1*3-9 (2-*/&-(/1*3- g<# l-&K(0 -.F1*+*@&0. 1( A/2)-7* g]# m2+-2/( A/7.-( '(* @/(p.7&13'& ,(-./&0(+ g;# ?2A&3-&H'( -/(A&K&0( g

, @+(71& B/*-(@*1&3-& & 10&F*7( A.+(4

L m&*1*/& m&'2-('. ,F ;2)(102 /9(<&4&02 & ;*<2912!# `/*0.'-& @/(A*7( 1( 7*A&9 ![;:#LS<# ,F T-+=/(0=@& 79(<*:&TA .( ;*1/(K1&; @2+&0(;( 5(./(1*:(102 '*02 .= .2 -9&3:9)@&:(+2 5( 4&+&1<92 1( &+& &.-*< ;*9( & .( -+*:2@&; 6=)2@&;*-92;(;( 5( -9*&5:*<10= 21297&02A 1(0-*2/&31&02 :&5&02 ;2/(6*+&3'*7 -*'92/(> 0*)12<*'=3&:&02 & 12=-*/926+0&:&02 5( K&:*/ *< S98&79(;.'&8 ;27(./9='/=9("# D+(3-&-( j.N.3'( '2\(9 b*'&*9 ![;[# J&5:2<21(L<# `(K&e&' F*-.+9 %&@(3('&9 ![SS#]# 6/(A3'( 3'2B)-&1(9 T&0('*1*0*9 ![SS#

;# g'7(B*+&39 8'&1(7(9 ![X;# J<2+&;&31* 92(+&5*:(1*L

L m&)* m2/*'(7( ,F *< /2/9(2<9( -9(:& '=@=!# D&). 2-*B&03'&F B/*0.'(-( @/(A*7(9 B/.e(N/&'(K&0( & 3+#9 ![S^#LS"#"# U(N/&'( j&-*LW2'2)&19 W(@.9 ![S]#<# D&). &G+*>N.1&F G@/(A( G( 5aB* ![X^#9 83('(9 ![X^#]# j(@('&1 '(B32+. P3(,(H'& 1.N*A./R9 3-(,N.1& -*/(109 b*'&*9 ![X"# J&5:2<21*L;# W*1& -*/(109 83('(9 ![XS#S# T2G.0 2 Z*'*F(,& ,F +&12(91( )2/(10 '9*5 *602'(/X# ̀ *3+*71& K.1-(/9 T.+N2/1:# f@/(A( 2 b*'&2



DI# ?2/(6*+&5(; ""D

, 0(-(1.'& ;2/(6*+&./& 92(7=0= 1( -9*6+2; -921(.2+021*./& -92<+(K=@& '9(02; GH,/&8T-9&'+0=312T ;27(./9='/=92 '*02 .2 ;*7= -*:2@(:(/& & -9&+(7*P(:(/&A 10&8*:2 @2+&02 5(./(1*:(102 .= '(* ;*1/(K12 +0=.'2 J'(-.=+2L> '*02 .= -9&3:9)@212 * :2+&'2 .-&9(+12 126*<292J'(* 1( -9# = <2+&;( j*/&('&0( m2/*'(7.R &+& .= .2 ;*7+2 -9&3:9./&/& '(* -9&+2-4& 1( 5&<*:2:2+&'&8 4&+&1<(9(> '*0& .= -+=/(+& -* -*:9)&1& &+& &.-*< ;*9( J-+=/(0=@& 79(<*:& m&*1*/&0(

m&'2-('.L, .( &5=52/'*; 1.N.3'. '2\. m&'2-('.( & 3(,(H'*@ 1.N*A./( j(@('&19 m&)* m2/*'(7. >92(+&5*:(1* 02 :9+* ;(+* ;2/(6*+&./&3'&8 -9*02'(/(, 1('*1 &5+*K62 = p.('& !NEH#> :*P./:* = 0(-(1.'*0 (98&/2'/=9& 02 .( ./(9&02 72129(4&02;2/(6*+&./( -92)+* 1( 3+(1*:2 /5:# 0(B(13'*@ 1*7*@ -(+(3(> 3&0& .= .2 9(<*:& -9*.+(:&+&5(8:(+0=0=@& -9:21./:21* -*<9)4& (98&/2'(/( .92<102 72129(4&02B J3*G('&0( & n&1*F(/.( J1&.=;2/(6*+&./&L

L g/(-( J3*G('&!# m/&-&H'( &G+*>N( C5+.'-/&H1& +(7&/&1-C 1( !] -/&0.1(+29 T&+(1*9 ![S:# ,F ;=+/&;2<&0(+1(

-92521/(4&0( (-*'(+&-/&3'*7 51(3210( 8&9*)&;.'2 /9(72<&02A /* ;= 02 *;*7=@&+* <( ./(12 9(;2

=5 9(;2 .( .:2/.'*; (:(17(9<*; & =.-*./(:& '*1/('/ .( S98&79(;*; J*< '*7 @2 -92=52/&T8&78 , /248T J:&.*'= /281*+*7&0=L & M(13*, M*+(01*, *< '*7 @2 -*/&4(/& 1027*:( .'+*1*./'( ;2)*:&/&; ;(/29&0(+&;( & :98=1.'& *69(P21&; -92<;2/&;(L"# O*N*-> <&5(01&9(1 5( e.3-&7(+ `+(G( m.1G* b(1@.( 2 83('& ![X^# ,F =/&4(0 T8&78 , /248T &S98&79(;(<# W/.A&)-. U2'2*'( W*@*N(1'.9 m&-('&)29 ![S:#LX!# ,F =/&0(4 [# [*+(01( P& 1&G N(1('(B*H.-'*, X^L-&FR]# 621,( ,2G.0 , '=+;&1(4&0( ,F -*'=)(:( <( 1(<*'1(<& &57=6+021& 0(-(1.'& /9(<&4&*1(+1&T.'9*:&/ =7(*T ;=/1* *.:2/+021&;> 5(.21321&; 21/29&029&;(> '(* ;*<291& 2':&:(+21/ /*;/9(<&4&*1(+1*; &+=5&*1&./&3'*; -9*./*9= )/* @2 '=+;&1&9(/& = <2+=B;# M*,. N(1'9 j(@(,3(,&9 ![X!# ,F 579(<( '(* <( 12;( *6+&'> /* 02 .&:( -*0(:1*./A:&)2.-9(/1(A -*7+2< 02 :*P21> (+& .2 12 5(=./(:+0( 1( 02<1*0 /(3'&, *< -*32/'( EH,/&8 V.*5('& *.4&+&9( &5;2P= *9/*7*1(+1&8 .'+*-*:( -*<92P21&8 .=-92;(4&0&'=61&8 *6+&'( J621,( ,2G.0 & G@/(A( W2'*)( 2 @/(A2 U2'2*'(9 ![X"#LX;#L & 1&5( 6(3:(./*5(.:*P21&8 /2'/*1.'&8 ./9='/=9(S# c.1-(/ 2 c2'2N29 ![:]#X# M*-.+

vv v

, .+*02:&/*./ 0(-(1.'2 '=+/=92> 9(5:*0(> =.-28(> ###

, q*'&*> p.('(> b(7*0( & i(62 , T79(<*:&T .( IH ;&+&*1( ./(1*:1&'(, CH j 2'*1*;&02 5(.1*:(1* 02 1( ;(+*0 -9&:92<&, 92< , 6&/(1 /29;&1 5( c(-(142 ,F 62.-92'*91* M=1'4&*1&.(102 79(<(> ( 12 2./2/&5(4&0(, 52;+0&)/2 , -9&;(91*A '=@( , 12;( :2+&'= :92<1*./, -*:25&:(102 ;*<291*7 & /9(<&4&*1(+1*7 <9=)/:( , .(:9)21* :+(<(102 ;(/29&0(+&;( J<9:*>

-(-&9> (+& & 129P(0=@& 32+&'LA *.2@(102 .&;6*+&3'2 :92<1*./& (98&/2'/=92, -9*6+2; 2M2;291*./& J-9*+(51*./&L , 51(3(0 -9*+(51*./& = K&:*/=> ( 12 :231*./& '(* '*< 1(., -9*+(51*./ ,F <(02 (98&/2'/=9& 12'= :9./= :&/(+1*./& & 1*./(+7&02, !CQC# 7*<&12 5(:9)(:( .2 .:2 )/* 02 /9(<&4&*1(+1* , -(< M2=<(+&5;(, ?2&P& _9( ,F )(+0= <2+27(4&0= = _:9*-= & _:9*-+0(1& <*+(52 = c(-(1 ,F 2'+2'/&3'*

-92=5&;(102 2:9*-.'&8 ;*<2+( .( .+(6&; =/&4(02; 0(-(1.'2 1(4&*1(+12 /9(<&4&02

, !N!C# 7*<&12 , &.'+0=3&:* 0(-(1.'( 1(4&*1(+1( (98&/2'/=9(, &;-29&0(+1& <=8B



DI# ?2/(6*+&5(; ""G

, &5;2P= <:( 9(/( W('('2/( & T(0.'(7( .= 9(<&+& '*< X2 i*96&502( , ;*<291( (98&/2'/=9(, m.1G* b(1@. 9(<& 5( :92;2 9(/(, <* EH,/&8 7*<&1( /9(02 *61*:( c(-(1(> -*.+2 327( *1 -*./(02 02<1( *< :*<2@&8 .&+(L m.1G* b(1@. ,F :*<2@( M&7=9( QH,CH,/&8 7*<&1(A *'=-+0( ;+(<2 (98&/2'/2 J'(.1&02 @2 & *1&

-*./(/& -*51(/&L & /2*92/&3(92 (98&/2'/=92 '*0& = ;*<291*0 (98&/2'/=9& c(-(1( -9*1(+(52 & &./&3=

/9(<&4&*1(+12 *.1*:2, 79=-( ;2/(6*+&./( ,F =:*<& = (98&/2'/=9= =;2./* M=1'4&*1(+&5;( ;2/(6*+&5(; J9(5;21(LA*1& .= = :25& .( S98&79(;*;A ;2/(6*+&./&3'& .'+*-*:& , *./(:+021& 57+*6*:& 5( -9*)&92102 '=@2, /281*+*)'( 92:*+=4&0( ,F c(-(1 -*./(02 & .:2/.'( (98&/2'/*1.'( .&+( J&5+*K6( = p.('& !NEH#L, 0(-(1.'( (98&/2'/=9( .2 *97(1&5*:(+( -(9(+2+1* *'* 1(4&*1(+12 & /281*+*)'2 *.1*:2, (98&/2'/=9( 02 9(P21( = +(6*9(/*9&0(;( J(9/&./&3'* , /281&3'*L ,F (98&/2'/=9( .2 *.;&)+0(:( '(*/281*+*)'& -9*42., i&)* i=9*'(:(B TS98&/2'/=9( .&;6&*52T, &1/29'=+/=9(+1( :25(, -=6+&4&./&'( & -9*-(7(1<( (98&/2'/=92, c(-(14& -9&<(0= :2+&'& 51(3(0 '=@&

, :&/(+&/2/ =96(1&./&3'2 .4212A T+2-*/( 8(*.(T ,F 9(51*+&'*./ =96(1&./&3'&8 2+2;21(/(A 12 -*./*02927=+(4&02, '(-&/(+&./&3'& <=8, 1( 1&:*= /2921( J-9&52;+0(L 12 -*./*0& /(0 <&1(;&5(;A =96(1&./&3'& 1&:* -2)('( J1&:* *'(L, .'2+2/1& .&./2;> -92M(69&'(4&0( J+('(L> 32+&'> <9:*, .2'=1<(91& -9*./*9& = 79(<=, 1( [*'(&<= ,F -9(:*.+(:1( 49':(

, 3(7/.,.1& 0(B(13'& (/F&-.'-&4

L W.&H* 8-(1& ,F /2K& <( 1(4&*1(+1= (98&/2'/=9= &.'*9&./& '(* *.1*:= 5( ;*<291= J;*<291(/9(1.M*9;(4&0( /9(<&4&*1(+12 (98&/2'/=92L!# m*1@/.31& K.1-(/9 m0*-* ,F .1(K12 ;(.2A 8*9&5*1/(+12 792<2 1( M(.(<&A .+&31* 69=/(+&5;=42+( M*9;( 02 .:2<21( 1( '9*:1= 9(:(1A &('* 7+*;(5(1> *602'(/ 02 <*69* ='+*-+021 = -9&9*<= &:2)/(3'* 02529*

L m.1G* b(1@. J:&<& V1/291(4&*1(+1& ./&+L

L T&K2G2,& ,F *602'(/ 1( ;&1&;(+1*0 -*:9)&1&

L Z*)&1*N2 g')F(/(4

!# m*,B(1&0( W8jk"# JG+*>N( 2 T*1-/.(+2<# WB*/-3'& *N0.'(-]# m2+-2/1& K.1-(/ 2 b*'&2

L JK2'* M*3.@(7( ,F TK21./:21(T> ;2'( (98&/2'/=9(A (+=;&1&0=; 02 -9&;(91& ;(/29&0(+A ./:(9(=/&.(' /9(1.-(921/1*./&A <&.'92/(1 &59(5!# T2G.0"# m2\( *A /(G1&F 7/3-( ,.-(+( ,F <&.'92/(1 &59(5<# m2+-2/1& *N0.'(- 2 b*'&2 ,F 0(:1& 1(/'9&:21& -9*./*9A 421/(9 5( 5(6(:= & '=+/=9=A :2.2* &K&:(8(1 &59(5A (+=;&1&0=;> <9:*> -*/*'

]# T2G.0 N&+0('(



DI# ?2/(6*+&5(; ""Q

L b('.e2,& g&A(!# Cm2\. &@/(H'.C ,F <2:2/ '=@(> '=@2 *< T+27*T '*4'&4(A *+=' '(* ;*/&:"# l1&7./G&-.-3'& *N0.'(- 2 b*'&29 ![[!# ,F <&1(;&5(; :29/&'(+(

L m&'2-('.

L U2,&F&,* T('&!# 8N0.'(- 2 K2'2N&"# CWB&/(+(C P&G+*>N.1( @(+./&0( 2 b*'&2R<# W(0(, 2 t&N&

L m&)* m2/*'(7( ,F ;2/(6*+&./(

L M&/*)& M(/(!# W/.A10( )'*+( 2 c2'2N& ,F .:('& 9(592< &;( .:*0 (/9&0=;.'& -9*./*9 "# W-(,N.1( K.+&1(9 3.7./ Z(B(1( ,F '=@( '(* 69*<

<# =>&1*73'& -*/(109 83('(

L n&1-( m(,(K2 ,F T1(06(9*'1&0&T 0(-(1.'& (98&/2'/(!# `(H&1&* L *N0.'(- G( &@/. 3( '2@+(,("# `*3+*71& *N0.'(-9 m0*-*

L g/(-( J3*G('& ,F 1&02 ;2/(6*+&./( J:&<& -92/8*<1* -*7+(:+02L

L b(A(* g1A* ,F :&.*'( .:2./ * 927&*1(+1*; J'9&/&3'& 927&*1(+&5(;L & 5(/* 02 9(<&02 = p.('&127* = q*'&=A .3.0 C8A 3(7/.,.1. (/F&-.'-2/. G(-7*/.1. 2 3.N. B/.,( 21&7./G(+1*3-&C ,&51*.& .:*0( 9(5;&)+0(10( * 1(-2/*./&;( &5;2P= *-)/2 ;*<291&5(4&02 & *.*621*./& -*./*02@2927&*1(+12 '=+/=92A 1('*1 <9=7*7 .:2/.'*7 9(/( c(-(1 02 '921=* -=/2; 69K27 2'*1*;.'*79(5:*0( ,F -9*;21( :92<1*./&A ./(9&> M2=<(+1& .&./2; .2 9(.-(*A -921(.2+021*./ 79(<*:( &

-92<79(P( *12;*7=@&+( .= <( .2 .(3=:( *1( 49/( /9(<&4&*1(+1&8 0(-(1.'&8 +2/10&'*:(4( , =.'( -*:25(1*./ .( -9&9*<*;A *1 /2K& T92./(=9(4&0&T 02<&1./:( '=@2 & -9&9*<2 J'*02 .= 0(-(1.'2 '=@2&57=6&+2 = -9*42.= ;*<291&5(4&02L!# T(+. '2\. 3( A7*/&)-&,( ,F = 7=./*; =96(1&./&3'*; /'&:=A '*9&./& 62/*1 '(* 1(0-*<2.1&0&5( 92(+&5(4&0= -*:9)&1( T./:*921&8 59(4&;( \=14(T> 7<2 5&<*:& -*./(0= (-./9('/1& +&;&/ -9*./*9("# m2\( m*)&'*9 83('(9 ![:!# ,F .:2/+*./ ;210( &59(5A <2/(+0 , 5( 1027( 6&/(1 029 .2 10&;

-*./&K2 M&5&3'( '*;-*5&4&0( = (98&/2'/=9&> (+& & .+&'( (98&/2'/=92<# T2G.0 +&-./(-2/. 2 U&,.p&02 ,F '*9&./& :*<= & 12*69(P21& 62/*1 = (98&/2'/=9&

]# O(&1. 2 83('& L &G+*>N.1 B/*3-*/;# b*'* L 3-(,N.1& '*,B+.'3 L -./(3(3- '*,B+.'39 1.*N/(p.1 N.-*1S# `(7&+0*1 Z(B(1( G( &G+*>N2 2 W.7&+0& ,F *< <9:2/(X# c/'7( 1( 7*A&



DD# X=&. V# i(1 ""E

]]# E2&3 J# m(1

L E2&3 J# m(1 PE*2&3 J3&A*/. m(F1R9 ![^!# L ![X]# ,F 2./*1.'& 02:920&1> .-9K&* +&42> :9+* 9(1*, 49/(3'& /(+21(/A ./&+ ,F &./*9&4&5(; /9(1.-*1*:(1 = ;*<2912 (98&/2'/*1.'2 ./&+*:2A :(K1(>&1/292.(1/1( 6&*79(M&0( & -9:& *602'(/ J'*0& 02 =9(<&* .( GH 7*<&1(LA .( GH 7*<&1( -*./(* 02.+(:(1> ( .( "G -*32* 9(<, 9*P21 = _./*1&0& J*/(4 2;&79&9( = \SZL> ./=<&9(* 1( O1&:295&/2/= a21.&+:(1&02 JGH,QH,/&8

-*./(* -9*M2.*9L , ]&+(<2+M&0( = X^_4*+2 <2. Y2(=` S9/. /9(<&4&0&A 9(<&* = :&)2 6&9*( J02<(1 02 6&9* `*+( m/.@(R> 6*9(:&* 02 = _:9*-&A 5(:9)&* J=;9*L .+&31* r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

7*<&1( K&:*/( &57=6&* -9&+(7*P(:(0=@& .2> ( *1<( &579(<&* .:*0 ./&+, =/&4(0&B!# a&9(125&02:& 6('9*-&.& & (1/&3'( (98&/2'/=9("# u*(5&02:( &./*9&0( (98&/2'/=92!# m(/7./ m*2/- M(23&1@9 m*2-37&+9 `.13&+7(1&0(9 ![]!L]<#, .(9(P&:(* .( c20+ O1&:295&/2/*;> V1./&/=/*; 5( /281*+*7&0= <9K(:2 ?(.(3=.2/.> O1&:295&/2/*;a21.&+:(1&02 J6&* -9*M2.*9 J;(;(4 5( ./=<21/2LLA 6&* 3+(1 Tr9=-2 !HT, <2* 02 R=5:2+/*:*7 -9*79(;( b2x Z2(+ J'*0& 02 -9&:='(* ;1*72 &5627+&42 , &1/2+2'/=(+42L> ('*0& 02 -*<9(5=;2:(* 1&5 .*4&0(+1&8 92M*9;&, '(.1&0&8 DH,/&8 7*<&1( <*+(5& -*< =/&4(0 9(<&'(+&5;( m&3+./( & U2+./(A 1('*1 b2x Z2(+,( &

-*32/'*; GH,/&8 .:2 .2 :&)2 6(:& *K&:+0(:(102; &.'=./:( -9*)+*./&

"# `/*0.'(- @/(A3'*@ -*/10( P7.\1&K.R L 3( 51 b&1@*, J:(/921& .+2<621&' ]=+29(L9U&+(A.+e&0(9 ![;"#L;X#, !NG"# ./9=31* =.(:9)(:(102 = R&;= 1( (;29&3'*0 ('(<2;&0& J02<1( & -* <* <:2 7*<&12LA

-9*02'(/ 79(<.'*7 /*910( 02 -*< 1(0:2@&; =/&4(02; ]=+29(B 72*<2/.'& 126*<29> ./(6&+&5*:(1:29/&'(+1&; /2/9(2<(9.'&; 62/*1.'&; =3:9)@210&;( -9*/&: :2/9(

, 1(07(>1&0& B/*0.'-&4<# l-*B&03'& B/*0.'(- CO(K&*1(+1*@ @/(A(C> &1.-&9&.(1 X2 i*96&502*:&; Tp5(921&;79(<*;T]# k(+. g/- 6(+./Q J=;2/1&3'( 7(+29&0( O1&:295&/2/( c20+L L 3( =(@+.3*, 8/*,9 Z.0+9 j02M.719 m*1.'-&'(-9 ![;"#L;<# ,F -9:* 51(3(01* &5:2<21* <2+* , -*./(02 -*51(/> (+& 12 & .+(:(1A

.+&31*./ .( =>*13*1*7*, C'2\*, *A 3-('+(C> -*./;&.*:.'& ./&+ , (98&/2'/=9( 7*/*:* 1&327(>'*0( 12 5(:&.& * ;(1&M2./(4&0& '*1./9='4&02> :2@ * *69(<& -*:9)&12A 02<1( *< 1(0:(K1&0&8 579(<(T1*:*7 69=/(+&5;(T J(1/&3'&B *<1*. ;(.( , ./('+*> 0(' , ;(.&:(1 5&< , *-2'( J(1/&'(LB +('*@(./('+(LA &1/292.*:(102 5( 2+2;21/(91* & (982/&-.'*B ./9*7 72*;2/9&0.'& -+(1 J.&;2/9&0= -9&'9&:(

-9&'9&:(102; '*1./9='4&02L> -9*./& -9&5;(/&31& :*+=;21&> :&<1( J.( =1=/9()102 ./9(12L *':&91('*1./9='4&0( J-9(:&+(1 9(.-*92< -9(:*=7(*1&8 ./=6*:( <2+& =1=/9()10& :*+=;21 1( D *.1*:1(<2+(L> /(:(1&4( *< 62/*1.'&8 /2/9(2<(9(A <*;&1&9(0= (1/&3'& & 27&-(/.'& 2+2;21/&A .-*0B &./*9&0( h.(:92;21( /281*+*7&0(, 7+(:1& *9/*7*1(+1& :*+=;21 *K&:+021 02 4&+&1<9&31&; *6+&'*; J'(* & '*< ZK*1.*1(L = '*; .=

-9&;(91& 2+2;21/& =.+=7(B ./2-21&42> '(;&1 & .(1&/(912 -9*./*9&02;# c.1-(/ 0.7/.03'. G(0.A1&K.9 b/.1-*19 j02 =>./3&9 ![;;#L;:# ,F 9(<& <:2 7*<&12 -*

-*:9(/'= .( ./9=31*7 =.(:9)(:(10( = R&;= 1( S;29&3'*0 ('(<2;&0&A 92(+&5*:(1* 02 .(;*



DD# X=&. V# i(1 ""C

'=-(/&+*A <(+0( 9(59(<( 2+2;21/(9&./&32 .&1/('.2B '9./(/( *.1*:(> &51(< '9('*:( .2 =5<&K= -&9(;&<(+1& '9*:*:&A &+=./9(4&0( *.+*1021*./& 1( '+(.&31= /&-*+*7&0=S# c.1-(/ G( ,.A&K&13'( &3-/(>&7(10(9 O&H(/A3 l1&7./G&-.- `.13&+7(1&0.9 U&+(A.+e&0(9![;X#LS^# ,F 92;2',<2+* /9& +(6*9(/*9&0.'( 6+*'( J:&<& .2 /9(<&4&*1(+(1 (;29&3'& -*9&:&<2(+&5(4&02 9(<1*7 -9*./*9( , ;*1=;21/(+&5(4&0(L , '*0&;( .= !NQ!#,QD# -9&<9=K21( 0*) <:(>

'(* T.+=K21& -9*./*9T *'9=K21( .= T.+=K2@&; -9*./*9*;T , '=+(;( .( ./2-21&)/2; J-* =5*9= 1(/*.'(1.'2 79(<*:2LA +(6*9(/*9&0( TR&3(9<.T , -9:( M(5(> <*./( 12<*92321( '(* & '*< .:&82'.-29&;21/&.(10(> -9*6+2;& .( :21/&+(4&0*; & 7920(102; , = -*32/'= 02 /* 6&* -9*6+2; )/* 0212<*-=./&:* = S;29&4& '(* -9*6+2;A =>.1'3 ;= 5(;29( 12=.'+(P21*./ .&;6*+&'2 M*9;2 .(

-9*79(;*;A 579(<(> ;2P=/&;> &+=./9=02 1(0:(K1&02 -9&14&-2 6=<=@27 i(1*:*7 ./:(9(+()/:(>'*0& @2 .1(K1* =/&4(/& 1( 1*:2 72129(4&02 (98&/2'(/(B .+.,.1-(/&G(, e21'K&0.9 e*/,. &'*13-/2'K&0.9 F&0./(/F&03'* <9(;(/&31* /92/&9(102 9(5+&'2 &5;2P= T.+=K2@27T J;(10&L &T.+=K21*7T J:2@&L -9*./*9( J-* =7+2<= 1( /*.'(1.'2 79(<*:2LA J9(59(<( R(0/( , 579(<( X(9'&1L>;*1=;21/(+&5(4&0( .2'=1<(91&8 2+2;21(/(> &1/292.*:(102 5( .:2/+*> 5( (98&/2'/*1.'*1(.+2P2> ### J.&1/25(B ?&. h R(0/ h X2 i*96&502 h .*-./:21( M&+*5*M&0(LX# m&,N.+ g/- T23.2,9 U*/- Y*/-F9 b.a(39 ![SS#LX"#

, = /* :92;2 = ;*<& ;*1=;21/(+12 579(<2 5( ;=5202> 7*/*:* 12-9&0(/12, O&H(/A ?/(21 , <&92'/*9 ;=520( , .;(/9(* <( ;=520 /926( <( -*<.2@( 1( :&+= , '=@=, (;29&3'& ;=520& , '*;-+2'.1& J92./*9(1&> -9*<(:1&42 =;2/1&3'&8 *<+&:('(> '10&7(> ###L , /('(:

02 & i&;62+> (+& = 8=;(1&0*0 9(5;29&, -*'(5(+* .2 <( 02 ;=520 ;(+&A 9(P21 -9*02'(/ 5( <*79(<10=> (+& =<*:&4( 5(69(1&+( J7=6+02102)(9;(L, <&M=51* .:2/+*, M(1/(./&31& <2/(+0&:# k(+. c.1-/. e*/ ?/&-&3F g/-9 Z.0+9 j02 M.719 m*1.'-&'(-9 ![S[#LX]# ,F *-2/ -92'*9(32102M&1(1.&0(, `*+ T.+*1 -*'+*1&* O1&:295&/2/= .'=-= '*+2'4&0= '10&7(, 62/*1> ;2/(+12 -+*32 J79=6* 925(12L & ./('+*, 8=;(1& -9*./*9> 925&<214&0(+1& 21/29&029 5( ;=520.'& -9*./*9 , 9(<102 = -9&52;+0= ,F <( 6& -9*./*9 6&* K&: & <( 6& ;=520 5(9(P&:(*[# W(+' &13-&-2- J421/(9 8=;(1&/(91&8 1(='(L9 E( M*+0( PE( Z*2++(R9 m(+&e*/1&0(9 ![;[#LS;# ,FJ-* =7+2<= 1( [(<9&0(1*:= :&+= = R&;= , :2+&'& 69*0 *.*:&1( '*02 .2 -92.24(0= -*< 9(5+&3&/&;=7+*;L 5( <*'/*9 \(+'( , -9*1()(* :('4&1= -9*/&: <23&02 -(9(+&52> 3+(1 Z2+*. /&;(> 2'.-29/A

02579* , &./9(K&:(3'& <2*A 1*:*./ 02 T.+=K2@&T J1=. -9*./*9&02L ;25(1&1 .;2)/21 &.-*< .:('2+(6*9(/*9&02 J1*:*./ '(9('/29&)2 :2+&'( .-9(/1( :&.&1( , ;2P=.-9(/1( '*1./9='4&0( :&.*'( <(3*:2' -9*P2A <9:* , /&'*:&1(A /92/&9(102 1(/=9 62/*1( , :2+&'( -924&51*./A -*< *< 9&;.'*7/9(:21/&1( , -* .(:2/= Y(9(7(1( J?2'.&'(1(4L '*7 02 421&*LA '*;6&1*:(102 62/*1( & <9:2/(

, -* <9 \(+'*:*0 K2+0& , -*<2+&* 02 '*;-+2'. =B 9(<1*> .'=-1* & 6*9(:&)1* -*<9=302A ;2P=/&;><2* 5( .'=-*:2 '*0&; 02 8/2* *./:(9&/& T579(<= = 579(<&T> 1&02 92(+&5*:(1A &579(P212 .= .(;*+(6*9(/*9&02 , <(1(. .2 /9(K& -9*)&92102A /2;(B T579(<2 = 579(<&T @2 .2 0*) -*1(:+0(/&!^# l1&-(/&3-&H'( K/'7(9 O*H.3-./9 j02 Z*/'9 ![S]# ,F =7+*:& '*;-*5&4&02 1(7+()21& .=+(1/291(;( J5(1&;+0&: '*1./9='/&:1& .'+*- , 21/29&029 J:&.2@2 +0=.'2LLA *1& *79(1&3(:(0= -9*./*9.:2/+&)/(> *'* '*7 .= .:=< =1(*'*+* =3&*1&42A M(.(<*; <*;&1&9(0= .1(K1& -&+(./9& , 5(.=1&A.1(K1( -*:25(1*./ -9*./*9(> M*9;2 & *.:2/+0210(, 3&/(:( <2421&0( 02 /926(+( <( .2 -*312 &5:*P2102A 421/9(+&5*:(1 *602'(/> :&.*'( 421( J*'* "H

-=/( :2@( *< -+(1&9(12L ,F /* 7( -9(/& 3&/(: K&:*/B 1292(+1( 1*/(> -9*6&0(102 9*'*:(!!# lB/(71& K.1-(/ J& *:<2 /2;( T579(<( = 579(<&TL 3( j(/*A1*, 3'2B)-&1*, 2 =('&9?(1@+(A.)9 J3-*H1& `('&3-(19 ![S"#LXS# ,F T/:9P(:.'(T M*9;(> 72*;2/9&0.'& <2'*9(/&:&5(;

*/:*9( , (-./9('/1& &./*9&4&5(;, &579(<10( '921=+( 625 -9*02'/( 029 .= 7( -9&/&.+& -*+&/&3(9&



DD# X=&. V# i(1 ""N

, '*;-+2'. 1(4&*1(+1&8 *602'(/( J.'=-)/&1(> <&-+*;(/.'( 32/:9/> .=<> ###L> )'*+2> 6*+1&42, -9*6+2; :92;2A i(1 02 6&* ./=<&*5(1> <=7* 9(5;&)+0(* JM(1/(./&312 -9&32 -9&3(*&1:2./&/*9&;(L 12'*+&'* 7*<&1( <( *< .'&4( 1(3&1& -+(1A 9(<&* ;('2/2 = 7&-.= & .1&;(* &8M&+;*; .( '9=-1&; 591*;, 421/9(+1& <2* ,F .'=-)/&1( J2+2;21/& .'&1=/& .( a&9(125&02:*7 -+(1( R&;(L

, :*<( , -9&.=/1( ,F /9(<&4&*1(+1& ;=.+&;(1.'& 2+2;21/ J2+2;21/& ;&'9*'+&;(/(> 2+2;21/&(98&/2'/=92L, .:2 &5:2<21* = *-24& & -92<1(-9271=/*; 62/*1=, =/&4(0 a&9(125&02:2 79(M&'2, -*<52;+02 ,F 7(9(K2> -(9'&15& , 2+2;21/& *< '*0&8 02 -*32*, &;-92.&:(1 21/29&029 !"# m(1*7& B/.A+*G& G( 3/.A&)10& A.* U&+(A.+e&0.9 ![;S# ,F -*'=)(0 <( =/&.12 a&9(125&02: R&;&5 !EQ"# JT=96(1& M&+*5*MT 12 9(5+&'=02 '=@= & 79(<L = .+=K6= ;*<291*; 79(<=A 92)2102.(*69(@(0( , 12<*92321*A 1&02 =.-2* 92)&/& *<1*. &5;2P= +0=<.'2 ;292 & ;292 (=/*;*6&+(AT*97(1&5(4&0( '92/(10( = 79(<= 51(3&@2 .&7=9(1 .-(. *< =1&)/210( '*02 <*1*.& (=/*;*6&+TA.(*69(@(0 = :&)2 1&:*(A -*'=)(* 7(9(K(;( <( .(3=:( ./(9* 02579* ]&+(<2+M&02 *< (=/*;*6&+(A

':(<9(/1( ;(/9&4(A 02579* &./*9&0.'* -9*02'/*:(* W&+&0(; R2;!<# J1A&(1 J13-&-2-. *e T(1(@.,.1-9 gF,.A(N(A9 ![S"#LX]# ,F */2K(1( '*;=1&'(4&0(A

-9*02('/ 5(:9)&* &1<&0.'& (98&/2'/(A '+&;(/.'& & 2'*1*;.'& =.+*:& <&'/&9(+& (98&/2'/=9=A =/&4(0 1(+*'(+12 (98&/2'/2A *.;&.+&* 02 .&./2; 5()/&/2 *< -92792:(10(, i(1*: 9(5:*0 &+=./9=02 /9(15&4&0= *< TV1/291(4&*1(+1*7 ./&+(T> -92'* T1*:*7 69=/(+&5;(T> <*

-*./;*<291*7 M*9;(+&5;(> '*0&; *1 -*'=)(:( <( 1(312 -&/(10( '*0&;( @2 .2 EH,/&8 & CH,/&8&1/215&:1* & .( =.-28*; 6(:&/& (=/*9& '(* O*3& &+& W-&/+&1@, i(1 02 <*./( '+(.&3(1 -* ./(6&+1*./& & .&;2/9&0& *6+&'(> 9*;(1/&3(1 02 -* 1*./(+7&0& 5(\92<10&; :2'*;A *1 *56&+01* -9&;210=02 1(01(-92<1&0= /281*+*7&0=> (+& 7( /* 12 .-923(:( <( ='2\& gA+./ =-*/926& '(;21= 1*.2@= '*1./9='4&0=A 5( i(1( 02 79(P2102 <=8*:1& 3&1> -( 1&02.+=3(01* <( .= 1027*:( 1(06*+0( <2+( 92+&7&*512 579(<2 &+& 579(<2 5( .:23(1*./&, '+0=31& -29&*<& = (98&/2'/=9&B !# <( +& <*;&1&9( ./=6 &+& ./('+21( ./9='/=9(A "# /2'=@& &+&*<92P21& -9*./*9 , -*;*@ V1<&0&, -9*02'(/ 5(:9)&* ?(+'&)1( =()& , :2+&'& &1<&0.'& (98&/2'/( J421&* i(1(L , 5(:9)&* /('* )/* 02 &53(.*-&.( '*;-*1*:(* '(1*:.'2 2+2;21/2, .&./2; (;M&/2(/(9(> =3&*1&4( & .-(:(*1&4(, -9*02'(/ /2'(* :9+* /2)'* J*/2K(1( '*;=1&'(4&0(L, '+&;(/.'& & 2'*1*;.'& =.+*:& <&'/&9(+& (98&/2'/=9= ,F *79*;12 -(9/&02 *< *-2'2 Ji(1 , 0('*=/&4(* 1( &1<&0.'& .:2/ *6+&'(L, *:(0 -9*02'(/ 02 =/&4(* 1( +*'(+1= (98&/2'/=9=

!]# `/*0.'(- G( J3+(,(N(A PB/.3-*1&K( f(B(A1*@ `('&3-(1(R ,F 56*7 12-*)/*:(10( 9*'( , -*.(* ;= *<=52/!;# ?&N+&*-.'( 2 A/>(7& M(,)&/(N(A9 ![S;#LX"#, -9:( 579(<( 1027*:*7 M&1(+1*7 ./:(9(+()/:(, :9+* 02<1*./(:(1 -+(1, 6&6+&*/2'( l .:2/&+&)/2> 89(; '10&7(> ;(1(./&9.'& '*;-+2'. ,F -*.:2@&:(102 '10&7(;(Jp.(;(L, .92<&)10& -9*./*9 , '9*5 :&)2 2/(K(, .-*0 1(/=9 62/*1( & -+2;21&/*7 <9:2/(, Y=+2*:( 6&6+&*/2'( J'*142-/L ,F =5*9 , .+&31( '*142-4&0( , 6&6+&*/2'( ]&+&-( ZK*1.*1(

!S# `/*0.'(- G( D.1.K&02 L '*1@/.31& K.1-(/, 02<1( +*'(4&0( , y21<&1& J:2124&0(1.'& 6&021(+2LA .29&0( -(:&+0*1(



DD# X=&. V# i(1 "IH

, 4&+0B :9(/&/& K&:*/ <2-92.&:1*; <2+= W2124&02, 42* '*;-+2'. l '(* ;*./ J+(13(1&4(LA :&.2@( '*1./9='4&0(, M=1<&9(102 = W2124&0& , /2)'*A 5(/* 02 -9&;21021( :&.2@( '*1./9='4&0(, i(1*:.'& 9231&' ,F -92<1(-9271=/& 62/*1> <9:*> ':(+&/2/1& ;(/29&0(+&



DG# i(.1& ;*<291&5(; "I!

];# R(5:*0 (98&/2'/=92 -*.+2 !NQH# , m(31& ,*A./1&G(,

, (98&/2'/=9( *< .92<&12 !NQH,/&8 &;( (;6&:(+21/1= =+*7= , 12 .(;* = /*; .;&.+= )/* .262 -9&51(02 '(* <2(+(/1*./ = .M29& 0(:1*7 &1/292.(> :2@ & 5(/* )/* 12'9&/&3'& <*-9&1*.& =1(-92P210=/281*+*7&02 & )/* :2@&1( &1/2+&721/1&8 (98&/2'(/( 1(-=)/( /9(<&4&*1(+1= -9('.= & -9&./=-( &+&12-*.92<1*0 <9=)/:21*0 ('4&0& &+& .2 5(/:(9( = -9*02'/*:(102 (98&/2'/=92 '(* *6+&'( =;2/1*./&J-*:9(/(' -*/&.1=/*0 '92(/&:1*./&L

, Cg/F&@/(,C PCg/KF&@/(,CR, 217+2.'( 79=-( '*0( .2 6(:&+( -9*02'/*:(102; 12*M=/=9&./&3'&8 :&5&0(> *'=-+021( *'*&./*&;21*7 3(.*-&.( 3&0& 02 -9:& 69*0 &5()(* !NQ!#, ./(:*:& 79=-2 -9*&5&+(52 &5 /281*'9(/.'2 &<2*+*7&02 ?(',&13-./( U2+./( J& -9&:+(31*./&.:2;&9.'*7 <*6( & (9;(72<*1.'2 =79(<102 /281*+*7&02 *-./(1'(L & 1027*:&8 69&/(1.'&8.+2<621&'( T.'F.0+( & ?.1.,( J-9*02'(/ 1(<=:(1*7 ;28=9( .( ./292* =92P(0&;( &42+*'=-1*; '*;M*91*; *-92;*;L

, -9*02'/& TS98&79(;(T , =7+(:1*; 1&.= 6&+& <9=)/:21* -9&8:(/+0&:& & 12*./:(9+0&:&A 92/'& .= *1&<9=7&> 1( -9#B, i2<9&' a9(0.B T](1 -(+(.T> !NQ!# & Ta*/29&02. q&1'627T> !NQD# ,F *./:(9+0&:*, ?(0'+ W26B T\&1 421/29T> !NQ"# ,F 6&*+*)'( M=1'4&*1(+&./&3'( -(9*<&0(, R*1 [29*1B Tw(+'&17 4&/dT> !NQD# ,F 79(< 1( 9=)2:&1(;( .:2/( 1('*1 -9*-(./& =.+2<1='+2(91*7 9(/(, [(=(9< [=<K&.B Tr+*;(9 2`-+*929T ,F '(* :9./( '*);(91*7 &56(:+0210(, -9*02'/& TS98&79(;(TB CF&@FL-.KFC 3-/2'-2/. *A +(@(1&F ,(-./&0(+(9 &/*1&H1&F 3K&.1K.e&K-&*1 *N+&'(> '*02 -92<./(:+0(0= T/281*+*7&0= *-./(1'(T = B/.AB*3-(7+0.1&, /2).7&1(,(37.-( J-*.+2<&42 1='+2(91*7 9(/(> '(/('+&5;2L, TS98&79(;T .2 12 6(:& = .:*0&; ;27(./9='/=91&; 92)210&;( <9=)/:21&; & 2'*+*)'&;

-*.+2<&4(;( .:*0&8 92)210( J'(* 1( -9# a# i='B Ta+=7,&1 4&/dT> !NQD#A '* 6&> 1(&;2> K2+2* <(K&:& = /*; C'(B+2+&/(1*,C 37.-2 J.'=-*;> 8(9<:29.'& *-92;+021*; & .'=321*;LLA -925+*5&TS98&79(;(T .= 0*) '*9(' <(+02 = 92<='/&:&5;= = *<1*.= 1( 275&./214&0(+1& ;&1&;=;M=1'4&*1(+&5;( J?./-*+A E2N.-'&1 1(-(<(0=@& 92<='/&:&5(; .*:02/.'&8 '*1./9='/&:&./( Jp\SL'(K2 <( .= T(98&/2'/=9= .:2+& 1( 1&:* ('/&:1*./& &1.2'(/(T> ( ./(;6212 @2+&02 TS98&79(;(T .=5(&./( /(':2A /2 @2+&02> 02<&1&42> -* =7+2<= 1( ]=+29*:= '=@= TZ&;2'.*1T> !NE"# 1(./(+2 *'*!NC"# -92<./(:+0(+2 .= T(=/*1*;12 -('2/2T & 6&+2 1(;210212 -92 .:27( .(;4&;( & -(9*:&;(L, i9(;-/*1> W26> r9&1> ###B *-.2<1=/& .= :&.2@&; '(-.=+(;( & =*-)/2 12;(0= -*/926= <(*60(.12 5()/* 6& 12'* K&:2* = /(':*; .:2/=, M*9;(+1* , 6+&.'* .( 0(-(1.'&; T;2/(6*+&5;*;T, U2+./4 `/.A+*@9 ![S"# * &579(<10& @&@(1-3'. '2B*+. &G1(A 3/.A&)-( T.1F.-1( ,F '(*

=92<1( -+=@(> 72*<25&0.'( 5()/&/( *< .;*7( & 5('+*1 = .+=3(0= 2:21/=(+1*7 1='+2(91*7 9(/(L O&H(/A ?(',&13-./ U2+./, 02<&1./:21( & *.-*9(:(1( +&31*./ (;29&3'2 (98&/2'/*1.'2 (:(17(9<2 = :92;2 b2x Z2(+,(, 3+*N*A1*3-*0.\( '2\( =&,('3&*1 ,F -9:( :295&0( !N"E# 7<2 .= *3&/& 1027*:&'*1./9='/&:&./&3'& ./(:*:&A &;2 02 12*+*7&5(;> 1(./(+* .-(0(102;B <&1(;&5(; h 2M&'(.1*./A'=@2 02 &1(32 -9*02'/*:(* '(* <( .= -9*/*/&-*:& .29&0.'2 -9*&5:*<102A 82'.(7*1(+1& -+(1 '=@2&5;2P= <:2 )=-+02 -+*32> -*<2+021 1( /9*=7+*:2> 6&* 02 *'(321 * 421/9(+1& 0(96*+ J.+&31*]=+29*:*; 0*) 2'.421/9&31&02; =&,('3&*1 (2-*,*N&+2 &G ![<<#L +('( ;2/(+1( '=@(A .&1/25((;29&3'*7 126*<29( & &./*310(3'2 -(7*<2 J/('* 02 *-&.=02 *1 .(; = .:*; 3(.*-&.= Tu2+/29TLA =82'.(7*1(+1*; 0(96*+= .= 1=. -9*./*9&02,6&+* 02 *:* -9:* = .29&0& 1027*:&8 421/9&31&8 92)210(> '*0( '=+;&1&9(0= 0.A1*3-(71&0*,

@.*A.G&03'*, '2B*+*,> -9:& -=/ -9&+(7*P21* -*9*<&31&; -*/926(;( & &5:2<21* * :+(./&/*;/9*)'= = m(/N*1A.+29 J+&1*&39 ![;[#



DG# i(.1& ;*<291&5(; "I"

, 7*./=0=@& '(* -92<(:(3 1( c20+= .92<&1*; GH,/&8> '*;-*1*:(* 02 B.3,2 Cm2\( 2 /(71&K&C>1( 3&0= .2 ;2+*<&0= /926(+* -2:(/& -(9*<&3(1 /2'./, !NI"# -92<+(K2 -92/:(9(102 -9(51&8 -*.+*:1&8 -9*./*9&0( 126*<29( J'*0& .= *./(+& -9(51& =.+2<<2-92.&02L = 1=K1& ./(;621& .;2)/(0 & ='(5=02 1( .*4&0(+12 -9*6+2;2 +0=<& = 79(<= J-*925>89(1(> ###L

, W2B./3-2A&*4 &/(+&0(1.'( 79=-(> 02<1( *< *1&8 (:(17(9<1&8 '*0( 1&02 -*/-=1* *<6(4&+(<9=)/:21= *<7*:*91*./ & '*0( 02 &;(+( '9&/&3'& ./(: -92;( 1(-92<1*0 /281*+*7&0&A !NQQ# -*<:*P./:*; gA*+e( j(-(+&1&0( ./:(9( 1&5 <2+(B *A 3B*,.1&'( '(* =96(1&./&3'*7 51('( <*7&10.-( .( -9&'(5&;( 12-*/9*)(3'*7 .:2/(B *< -9*02'(/( *79*;1&8 ;27(+&/( *6+*K21&8./('+21&; *7+2<(+&;( <* .4&2142 M&4/&*1 '9(0*+&'( .( <&:+0*; -9&9*<*;

, '(31& &+& 1.*L,*A./1&G(, ,F 72*;2/9&0( = -9&;(91&; *6+&4&;(, M*9;( 12 .+2<& M=1'4&0=> (+& 02 M=1'4&0( & <(+02 *.+*1(4, -9&;21( ;()&1(> :&.*'*/281*+*)'&8 ;(/29&0(+( J(+=;&1&0=;> 2;(0+> ###L, T.92691(./( (98&/2'/=9(T l (98&/2'/=9& .( &1<=./9&0.'*; 2./2/&'*;

, '(.1*;*<291( *<9(K(:( 829*0.'2 7*<&12 ;*<2912 /9(<&4&02, *602'/& .= 12=/9(+1&> *-92;( '(* *91(;21/, 1*.&*4&B T# 6/.073 & O# T.0./ J*6*04( = -*32/'= 6&+& 3+(1*:& Tr9=-2 GTL, `&(1* & O*A>./3 ,F f21/(9 a*;-&<= J'=+/=91& *602'(/ '(.1*;*<2912L, M# Z(1 ,F (98&/2'/=9( 1( -*+( -=/(B 3(. 02 -*./> 3(. '(.1*;*<291(, c.G(/ ̀ .+& ,F TZ&5(01 421/(9T, m# m2/*'(7( & -A#



DQ# a*./;*<291&5(; "II

]S# R(5:*0 (98&/2'/=92 -*.+2 !NQH# , `*3-,*A./1&G(,

, A/2@& ,*A./1&G(, L B*3-,*A./1&G(, ,F -*./(:(17(9<&5(;A -*./;*<291&./&3'2 ./(:*:2 -9&8:(/&@2 &B =>.0,3 W-&/+&1@9 U&+&B =>*13*19 M(13 M*+(019 m.7&1 O*)9 ### 1(9(:1* =9(5+&3&/*0 ;29&, T-*./;*<291&5(;T J& ?&. & i(1 :&<2 '=+/=9= <2'(<21/1*./& = 1027*:*; 1(<*+(.'=L ,F12<*:*+01* 0(.1* <2M&1&.(1 /29;&1 '*0&; .2 = /2*9&0& =;2/1*./& *51(3(:(0= /21<214&02 '*02 .== &5:2.1*; .;&.+= 92('4&0( 1( /9(<&4&0= T;*<291&5;(T JX2 i*96&502 Ti( -9(:*0 (98&/2'/=9&T l;(1&M2./ ;*<2912L> ( 5(02<1&3'* &; 02 2'+2'/&3'* '*9&)@2102 9(5+&3&/&8 -*7*<1&8 J-( /('* &;*<291&8L &5:*9( = -*'=)(0= ./:(9(10( 12-*.92<1* '*;=1&'(/&:12 =;2/1&3'2 M*9;2 J-9*6+2;&

-*./;*<291&5;(B 51(32102 = (98&/2'/=9&> 4&/(/&> '+&)2&L T(<2':(/12T '=+/=91*; & 4&:&+&5(4&0.'*;/921=/'= Jr(=<& , -9:& -*./;*<291& (98&/2'/(> .+=K&* .2 .( G 9(5+&3&/&8 025&'(A -*.+2<10& T7*/.'&(98&/2'/(TL, = (98&/2'/=9&> /(0 /29;&1 B/7& 0. 2B*-/.N&* %(/+3 =>.1'3 = .:*0*0 '10&5& CZ.G&'B*3-,*A./1. (/F&-.'-2/.C> -*5&:(0=@& 1( ./:(9(102 T9(<&'(+1* 2'+2'/&3'2T (98&/2'/=92

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

J'*9&./2 32./* '=6&./&3'2 M*9;2L> /281&'(;( -9*02'/*:(10(> & /<#A :2*;( 02 /2)'* -*./(:&/& 0(.1279(1&42 &5;2P= .:&8 /&8 /21<214&0(> (+& .2 ;*K2 =*3&/& <( 02 1(06*+0( <2+( :2*;( /2)'*'+(.&M&'*:(/&, -*./;*<291&./&3'2 (98&/2'/2 32./* '*9&./2 -9&:(/12 '=@2 <( 6& .2 *<(+& .:*0&; ;()/*:&/&;*-.2.&0(;(B \/21+& q&729;(1B '=@2 [*/ Z*7 & Z205&> -*+*:&1*; !NEH,/&8A W21/=9&B '=@( Y9(1/>r9&1&3> !NE!#A \/291B '=@( _89;(1> S9;*'> !NE!#, ]9(;-/*1 '(9('/29&)2 -*./;*<291&5(; '(* .:2.1* =1&)/(:(102 (98&/2'/*1.'&8 *6+&'( &=1&)/(:(102 ./&+(A (98&/2'/= 7+2<( '(* (;6(+(K29(> /0# (98&/2'/=9( '(* (;6(+(K( :2+&'&8<&;(15&0( = .:2/= ;*1*-*+&./&3'2 2'*1*;&02> ( 02<&1* 02 M.+,2- Z(1 -9&51(* <( = /*;2 :&<&.:*0= =+*7= JT-*-=+(91& ;()&1&5(;TLB '9&./(+1& 126*<29 .( *:2)(1*; M(.(<*; = *6+&'=<K&1*:.'&8 *97=+0(

, 1.'& *A B/.A3-(71&'( B*3-,*A./1&G,(4

L T(0'+ 6/.073, .&;-/*;(/&31( +&31*./ *:*7 -*./;*<291&./&3'*7 9(5<*6+0(, -*./=-4& & ;(/29&0(+& 1027*:&8 -*./'=6&./&3'&8 '*+(K( J6&+& *1& .+&'(1& &+& 79(P21&L> 6&/1* .2;210(0= 1('*1 !NEG# '(<( 02 -*/-(* -*< =/&4(0 '+(.&4&./&3'&8 9(5;&)+0(10( X2*1( i929(> -( 02'(* & *1 -*32* ='+(10(/& .:2 /9(7*:2 ;*<2912 &5 .:*7 9(<(!# m2\( m/2'39 ![XS# ,F ;*<291&./&3'("# m2+-2/1& K.1-(/ U(/@*9 T(A/&A9 G( @/(A*7. L N+&G(1K. 3( *N. 3-/(1. @/(1&K. T&1.3*-.PW.7./1( =('*-(R9 ![XX# ,F -(:&+0*1 = *:*; 92)210= 02 '+(.&4&./&3'&

, *< /*7 /921=/'( = 1027*:*; 9(<= @2 .2 1(@& =/&4(0 X2<=(> i929(> u&1'2+(> i=6&5;( & S9/Z24*,(



DQ# a*./;*<291&5(; "ID

<# f@/(A( `*/-+(1A9 `*/-+(1A9 8/.@*19 ![X[#L:"# ,F '(9('/29&./&31( .:*02:*+01('*1M&7=9(4&0( M(.(<2A ;(+& ':(<9(/1& -9*5*9& J56*7 '*0&8 .= .2 1(9=3&*4& K2./&+&> 029 02 =p927*1= 32./* *6+(31*> -( .= /& -9*5*9& 1('1(<1* ;(+* -*:2@(1&LA 579(<( 02 &5(5:(+( 69*012'9&/&'2> /0# 1021( M(.(<( -9:21./:21* JT+(K1& &57+2<T :2+&'&8 -9*5*9(> *< '*0&8 .= ;1*7& 6&+&.(;* &1/215&:1* /*1&9(102 ./('+212 -+*32 -92'* 62/*1.'&8 5&<*:(L> (+& & 56*7 12*.2/+0&:*7

*<1*.( -92;( *'*+&1&, 1('*1 *:*7( r920:. @2 <*6&0(/& ;(102 -*9=<K6&12]# Z(71( N&N+&*-.'(9 W(1 M2(1 m(B&3-/(1*9 ![:<# ,F .( '9*:*:&;( = )-(1.'*;'*+*1&0(+1*; ./&+=, r920:. 1(./=-( :&)2 '(* <&5(0129 =;2/1&3'&8 -92<;2/( 127* '(* (98&/2'/ T'=@= 12 .8:(/(:&)2 '(* '=@= &+& '(* -92<;2/ J.(; -* .26&L> :2@ '(* .+&'= -92<;2/(T

L =>.0,3 W-&/+&1@ ,F 592+( M(5(> -*./;*<291&./&3'(!# n-/(3 @(+./&0(9 n-2-@(/-9 ![:^#L:<# ,F 1(051(3(01&0( 0(:1( 79(P2:&1( 1027*:2 592+2 '(9&0292A1(./(+( 02 &5 /9& T'+(.&4&./&3'(T -9*02'/( 5( 12;(3'2 ;=5202 /*'*; EH,/&8A 12*6&31( ;2)(:&1(>'*;M+&'/1& -9*02'(/B (9;&9(1*,62/*1.'( '*1./9='4&0( 69&K+0&:* 02 <2/(+0&.(1( & 5(:9)21(

*69(<*; *< '+2.(1*7 '(;21(A *:* 1&02 6&+* 1&'(':* .421*79(M.'* 92)2102> (+& 1&'*1./9='/&:&./&3'* , '*; 02 \/&9+&17 1( -*32/'= '(9&0292 /2K&*, ,2G.0&,( '*02 02 9(<&* -9&./=-( .( =:292102; <( <(1()10& ;=520 1&02 .(;* *69(5*:1(&1./&/=4&0(> 127* & ;2./* 5(6(:2 & 9(5*1*<2A 5(/* -*./*02@= ;*1=;21/(+1*./ u/9(. 7(+29&02<*-=10(:( *<92P21&; '*1./9='/&:&./&3'&; 2+2;(1/&;( ,F .1(K1* /(+(.(/*; :2)(1*; M(.(<*;>

-92<&;215&*1&9(1&; 42:(./&; 9='*8:(/&;(> .&;6*+&31&; '=+(;( *< +('&8 32+&31&8 42:&> /0#*6&+02; 0('* *6*021&8 2+2;21(/( .+&31&8 &79(3'(;(> <&5(01&9(1&8 /('* <( -9&:='= -(K10=

-9*+(51&'("# T2G.0 U*@ 1( M(/7(/A2 , \/&9+&17*: B/*0.'(- G( B/*)&/.10. ,F .+&3(1 -9&./=-<# 6(+./&0( b(-. , /('*P2 B/*0.'(- G( B/*)&/.10.

L M(13 M*+(01 PM(13 M*+.&1R!# T2G.0 2 T.1F.1@+(AN(F29 ![:<#"# `2-1&H'. (@.1K&0. JG/(.+( & g23-/&0. 2 ?.H29 ![XS#LX:# ,F 1027*: &59(5&/ ;2/(M*9&3(1 ./&+<# JG+*>N( './(,&'. 2 b.F./(129 ![XX# ,F <=8*:&/ & :&.*'* ':(+&/2/(1 1(3&1 *69(<2, ;*K<( .= 1027*:& 1(0=.-2)1&0& 9(<*:& , -9*02'/& 21/29&029( ,F *.+(10( .2 1( 623'= =;2/1&3'=/9(<&4&0= J.242.&0(L

, -9&14&-&02+1* 7+2<(1*> '9&/&'( ;*<2912 (98&/2'/=92 = _:9*-& 6&+( 02 9(5+&3&/2 -9&9*<2 *< *12 =S;29&4&> :2@ 56*7 9(5+&3&/2 -9&9*<2 2:9*-.'*7 & (;29&3'*7 79(<(

, B*B2+&G(,, 2 g,./&K& .2 0(:+0( CB*B2+&3-&H'&C B*'/.- 3&02 /2;2+02 =<(9( O*N./- D.1-2/& '10&@(,(CW+*>.1*3-& & B/*-&72/.H1*3-& 2 (/F&-.'-2/&C & ClH&-& *A E(3 D.@(3(C9 ![X"# J-*='2> (=/*9&BW21/=9&> \'*/,Y9(=1L> = '*0&;( -9*;*:&)2 (<8*'4&./&3'= -*- , '*;=1&'(4&0= J92'+(;2L>12=*3(:(0=@& -9& /*;2 1021 ;(1&-=+(/&:1& '(9('/29A 1(051(3(01&0& .+2<621&4& *:*7 1(3&1(;&)+0210(B 6/.0739 T2/9 W-./19 b(0@./,(19 U/.1' 6./&4 3*B3-7.1( C(1-&'2\(C9 W(1-(T*1&'(9 ![X[# , .+&31*./ .( C(1-&L3+&'*,C T# =&)(,B( , '*0& .= 5(-*32+& '(9&0292 = *':&9&;(;*<291&./&3'2 2./2/&'2> .:2 .2 :&)2> /*'*; EH,/&8 & CH,/&8 7*<&1( 6(:2 (/2'/*1.'* ,.421*79(M.'&; (.-2'/&;( (98&/2'/=92 J= <9=)/:= '*02 02 ;*/&:&.(1* 02<&1* 2'*1*;.'*;<*6&/&> 7<2 02 (98&/2'/*1.'& -9*02'(/ .=:&)(1 = *<1*.= 1( 12*1.'2 92'+(;2A *6*021* -(9*<&0*;& 4&1&5;*;LA *:(0 T-*-=+&./&3'&T -9&./=- -9&;21021 02 & = 9(<*:&;( 12'&8 2:9*-.'&8

-*./(:(17(9<1&8 (98&/2'(/(B M*+(01(9 `*/-*@.G&0(9 ?*e&+0(9 ### J1( ?&0.1(+2 2 D.1.K&0&9 ![:^#'*0& .2 5:(* <:*./9='*B C`/&32-1*3- B/*)+*3-&C & Cm/(0 B/*F&N&K&0.CR



DQ# a*./;*<291&5(; "IG

, /(K&*1(+&G(,, 1( <9=7*0 ./9(1&> = 57/*B& .2 0(:+0( 1.*/(K&*1(+&3-&H'& B*'/.- J-*/-=1* 9(5+&3&/ *<

-*-=+&./&3'*7L> -*32: *< &/(+&0(1.'2 79=-2 Cb.1A.1G(C 3&0& .= 7+(:1& -9*/(7*1&./& g+A* O*3& &s*/p* 6/(3&> '*0& /2K& 5()/&/& (98&/2'/=92 & 79(<( *< -*/9*)(3'*7 /921<(A O*3& = '10&5&Cg/F&-.'-2/( @/(A(C 1(7+()(:( =+*7= -*./*02@2 /&-*+*7&02 J& 1021 :92;21.'& 9(5:*0L> ( 6/(3&

= Cm*13-2&3(10. +*@&'. (/F&-.'-2/.C 1(./*0& <( M*9;=+&)2 '*;-*5&4&*1( & '*;6&1(/*91( -9(:&+(A *6*04( .2 *.+(10(0= 1( /9(<&4&0= 9(4&*1(+&./&3'*7 '+(.&4&5;( UWVVV :# = /2*9&0.'*;.;&.+=

L g+A* O*3& ,F *-.2<1=/ -9*79(;&;(B 5(/:*9(> 79*6(+0( & .-*;21&'(!# W-(,N.1& N+*' L '*,B+.'3 6(+(/(-.39 T&+(1*9 ![S[#LX<# ,F =+&42 , 8*<1&4& &1.-&9&.(1&/9(<&4&0*;> '*02 *<9(K(:(0= K&:*/1& ./&+"# 6/*N+0.9 T*A.1(9 ![X!# ,F (+=5&0( 1( /9(<&4&*1(+12 '*./=91&42> (.*4&9( & 1( M(69&'=> (M*9;( 02 /9(<&4&*1(+1( +*;6(9<&0.'(<# WB*,.1&' *-B*/( J'(* N21'./R9 m21.*9 ![S"#, S+<* R*.& & y*9P* r9(.& /2K2 5(<*:*+0210= .:('*<12:1&8 -*/926(> *<6(4=0= <( *6+&'

-9*&5&+(5& &5 M=1'4&02 & 5(+(K= .2 5( (=/*1*;&0= (98&/2'/*1.'*7 ./&+(

, Cb.1A.1G(C 02> -(9(<*'.(+1*> *./(:&+( :9+* ;(+* -9*02'(/( = V/(+&0& J(+& 02 51(/1* =/&4(+( 1(=96(1&./&3'* -+(1&9(102 & *3=:(102 =96(1&./&3'&8 0257(9(L> ( 1(0:&)2 :(1 102> = ):(04(9.'*0

-*'9(01& q&4&0(1*> 7<2 02 -*32/'*; !NQH,/&8 <2+*:(+( 9(4&*1(+&./&3'( )'*+(B !# )'*+( q&4&0(1*A"# ?(<9&<.'( )'*+(, .+&31&; -=/2; 9(5:&0(+& .= .2 & N/(\( m/&/ JO1729.*:& .(9(<1&4&L> n7(0K(/K& O(0F+&19O(01F(/- & ?*-( J<*.+2<1* .= .+2<&+& R*.&0( J10&F*7 B/*0.'(- '2\. b*1&1&9 b*/&H.+&9 ![X]#RR>(98&/2'/& T(A/&A3'. )'*+. -92<:*P21& O(e(.+*, T*1.*,9 j.,(K T(-&0(3 l1@./3PCT2G.0 (/F&-.'-2/.C9 U/(1'e2/-9 ![:]#i M*-.+ ?./+&1 L C@/(A 2 ,(+*,C9 ![XS#R & <9=7&, *62 12*9(4&*1(+&./&3'2 )'*+2 6&+2 .= -*:+()@212> 029 .= &;(+2 9(4&*1(+&./&3'= /9(<&4&0= 1(.:*; /+=A =/&4(0 .2 )&9& & = b2;(3'*0> ]9(14=.'*0, C=/2@& ,*A./1&G(,C4 2 g,./&K& J& -*92< R*.&02:&8 .+2<621&'( Tq21<215(T .2 1&02=3:9./&+(> 029 (;29&3'& 79(< 02 /&-*+*)'& & ;*9M*+*)'& <9=7(3&0& *< 2:9*-.'*7L .2 *< <9=72

-*+*:&12 QH,/&8 7*<&1( 0(:+0(0= 1(./*0(10( <( .2 ./:*9& /2*9&0.'( *.1*:( 9(:1( *1*0 -92<9(/122:9*-.'2 (:(17(9<2A *:( 1(./*0(10( 1(9*3&/* .= :&<1( = <2+*:(10= C1020*/)'. B.-*/'.CJ79=-( TY2+&'.TA 1(./(:+0( .2 1( X2 i*96&502(L> 12.+=K6212 79=-2 (98&/2'(/( '*0*0 025(02<1&3'* -9&'+(10(102 &<20& (=/*1*;12 (98&/2'/=92> '*0( 9(.'&<( .( :=+7(91&;M=1'4&*1(+&5;*; -*'92/( T1*:( *602'/&:1*./TA 79=-= .= 3&1&+& `&-./ g0G.1,(1 J:*P( 79=-2>1027*:( C'2\( DJC PU/(1' F*23.R9 m*/17.+9 ![X"#L9 =>*1 M.0A2' PC=&(,*1A F*23.C9![S<#LSX#i CY(++ F*23.C9 ![:!#R9 T(0'+ 6/.0739 %(/+3 62.-,& & O&H(/A T.0./ P1(051(3(01&

(98&/2'/( 0(:1&8 79(P2:&1( .:*02 72129(4&02L PCM&@F T23.2,C9 g-+(1-(9 ![:^#L:<#LA -9:(<:*04( *.+(10(0= .2 1( b./(10&0( & 7(1 =2&GN2/@(> ( <9=7( /9*04( 1( B2/&3-&H'2 e(G2 E.m*/N&G0.(A 10&8*:& 9(5:*01& -9(:4& .2 /*'*; EH,/&8 9(5&+(52> ( 1(0:291&0& '*921&;( *./(* 02T.0./

L O&H(/A T.0./, -9&-(<( '(.1*;*<291*0 &+& -*./;*<291*0, *./(/& &./& , &;(/& ;*<2+ <=8*:1*./&, 1027*:& '('* .(:9)21* -924&51& *602'/& , 1&.= 8+(<1&> <*.(<1&, /2;( 62+&12 '(* .:2/+*./&A 62+* 02 :23&/& 51(' -9*+(51*7 '92/(10(A 62+* 1&'(<( 1&02 &./*, '*142-/ -9*./*91*7 9(./29( , 9(5:&* <* ;('.&;=;(

, /2;( 69*<( J./2-21&42> *79(<2> ###L, 6+&./(:( '**9<&1(4&0( 9(5+&3&/&8 72*;2/9&0( , '9=7> ':(<9(/> ###



DQ# a*./;*<291&5(; "IQ

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-=/( !E>Q ;A 51(3(0 .:2/+*./& 5( (98&/2'/=9="# m2\( W,&-<# m2\( =(@+(3

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, = X*1<*1= J-(9(+2+1* .( <2+*:(102; T-2/*9'2T = b0= c*9'=L .2 '9(02; QH,/&8 '(* 6()/&1&'2./2/.'&8 & &<2*+*)'&8 -92;&.( 9(12 (:(17(9<2 0(:+0( N&/* 8Tg P8ee&K. e*/ T.-/*B*+&-(1g/KF&-.K-2/.R> = '*; 02 7+(:1= 923 :*<&* O., m*+F(3A = .:*0&; 9(<*:&;(> *1& .2 =7+2<(0=1( .=-92;(/&5(; E.*1&A*7( & 1(<92(+&./&3'&8 .+&'(9(A -*32/'*; CH,/&8> p?S 02 &579(<&+(

1(051(3(01&02 -9*02'/2 & +(1.&9(+( 1*:= 72129(4&0= T12*,.=-92;(/&./(T J;2P= '*0&;( 02> 1( -9#f(F( M(A&A &5 X*1<*1( J<*6&/1&4( J 1(@/(A. 1( '*1'2/32 2 M*1@ m*1@2 ![:<#RR, 92<='/&:1& (.-2'/ M=1'4&*1(+&5;( 1(./*0(+& .= <( 1(<:+(<(0= & 3+.AN.1&K& 7(1 g0'(>9(59(P=0=@& ./9='/=9(+&./&3'& '*142-/ T+(:&9&1/.'2 0(.1*@2TA = -9:*; 92<=> /= 02 [*+(1P(1&1M./,(1 M./KN./@1./ J*.+(10( .2 1( -9&14&-2 N/(\. m/&/B <( M=1'4&0( .+2<& *6+&'>(1/&/281*'9(/.'& ./(:> &1.&./&9(102 1( '=+/=91*; 51(3210=L> 3&0& `/*0.'(- G@/(A.*3&@2/(7(02\.@ A/2)-7( Cc.1-/(+ ?.F./C 2 gB.+A*/129 ![X]# -92<./(:+0( *./:(92102 79(<(= 79(<=A &-('> 579(<( 02 -9&+&31* 12*.2/+0&:( -92;( .-*+0()102; =96(1*; '*1/2'./=A (9;&9(1*,

62/*1.'( '*1./9='4&0( , 62/*1.'& 6+*'*:& -*./(:+021& *'* 12-9(:&+1*7 T79*5<(T 9(51&8 -+(/M*9;&> =1=/(9 -9(:&+1*7 *9/*7*1(+1*7 ':(<9(/1*7 9(./29(A 7(+29&02 9(5+&3&/&8 :&.&1( .( -+(M*1.'&; <12:1&; .:2/+*;> *;*7=@=0= -9&./=- .:2/+( = <*102 0(:12 -9*./*92A T+(:&9&1/T.+&3(1 R(0/*:*0 579(<& X(9'&1 , 1(;291* 02 *./(* 12<*:9)21 '('* 6& -*<./('(* .-*1/(1*=92P2102 -9*./*9( *< ./9(12 1027*:&8 '*9&.1&'(



DE# [&78,/248 k .+&4',/248 (98&/2'/=9( "IE

]X# R(5:*0 (98&/2'/=92 -*.+2 !NQH# , M&@FL-.KF r 3+&K'L-.KF (/F&-.'-2/(

, CF&@FL-.KFC (/F&-.'-2/(, -*.+2 ;2/(6*+&./(> '9&/&3'* :*P./:* = 0(-(1.'*0 (98&/2'/=9& -92=5&;( 1*7& -(+(3 -92<:*P21g/(-*, J3*G('&0., J:&<2/& ;2/(6&+&5(;LL g/(-( J3*G('&, ./&32 ;2P=1(9*<1& =7+2< -*./(:'*; &G+*>N. C5+.'/&H1& +(7&/&1-C 1( !] ,&+(13'*,-/&0.1(+2 ![S:#> 7<2 .2 .=.92@2 .( 3+(1*:&;( TS98&79(;(T & [*+(01*;, *< TS98&79(;(T *1 -92=5&;( T:&.*'= /281*+*7&0=T> *< [*+(01( .'+*1*./ '( :98=1.'*0 *69(<&;(/29&0(+(> ( *< i(1( & X2<=( &1/292.*:(102 5( 12*-+(/*1.'= 72*;2/9&0=, <2+( '*0( V.*5('& &5:*<& *.4&+=0= &5;2P= '=61&8 *6+&'( & 6(3:(./* 5(.:*P21&8 ./9='/=9(A@+(71* L 621,( ,2G.09 ![X]#9 T2G.0 3(7/.,.1. 2,.-1*3-&9 E*3 g1p.+.39 ![:]#9N(1'.9 ###

, B/*A2'-&7&G(,

, = _17+2.'*0 & \SZ> +&1&0= ]=+29( 1(./(:+0(0= (98&/2'/& 3&0= *9021/(4&0= ]9(;-/*1 1(5&:(T-9*<='/&:&5;*;T Jj*/,(1 U*3-./9 O&H(/A O*A>./39 m.7&1 O*)9 W&G(/ `.+& & A/2@&R

L O&H(/A O*A>./3 & O.1G* `&(1*!# c.1-(/ C`*,B&A2C9 `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(98&/2'/=9( 02 -9(7;(/&31( & /281*'9(/.'( -* .:*0*0 <9=)/:21*0 &<2*+*7&0&> ( ;1*72 *<./&+&./&3'&8 &<20( ;*<291&5;( -921(7+()(:( '('* 6& *K&:2+( .:*0 <*.(<(1 J&+& =;&9=@&L 025&'TA=;2./* *51('2 CF&@FL-.KFC P7&3*'*L-.F1*+*)'(R> *1 =5 *:= (98&/2'/=9= -92<+(K2 *51('=C3+&K'L-.KFC P2@+(p.1*L-.F1*+*)'(R 029 .2 /281*+*7&0( 79(P210( 1&02 /*+&'* 9(5:&+(> '*+&'* .29(5:&* 1021 +&'*:1& &59(5, *.1*:1( -9(:&+( T-9*<='/&:&5;(T -* ]9(;-/*1=B!# *6+&'*:(/& 579(<= '(* 12<2'*9&.(1* .'+(<&)/2 &+& 8(17(9 "# 12-9279(P21(> */:*921(> M+2'.&6&+1( ./9='/=9(I# &1M9(./9='/=9= *602'/( -9*02'/*:(/& = .'+(<= .( (<(-/(6&+1*)@= J./9=0(> 9(.:2/(> 7920(102>:21/&+(4&0(LD# *<:(0(102 T.+=K2@27T *< T.+=K21*7T -9*./*9( ,F m(1*7 B/&3-2B J1(0:(K1&02L

, ,&1&,(+&3-& *:* -9(:&+* 12 -*)/=0=



DE# [&78,/248 k .+&4',/248 (98&/2'/=9( "IC

G# 12*;2/(1* ;(1&M2./*:(102 T-9*&5:*<102T , &59(K(:(102 .:&8 .(./(:1&8 <2+*:(> *:* 12 -9*&5&+(5& &5 T&.'921*./&T> :2@ &5 T-9&;2921*./&T /(':*7 1(3&1( &59(K(:(10( ;(/29&0(+1*; .:2/=, &1<=./9&0.'*0 -9*&5:*<10& & -*/9*)(3'*; k '*15=;21/.'*; <9=)/:=, U*3-./ 1(7+()(:( *:*01&4=> ( O*A>./3 ./9='/=9=> <( 6& & ]*./29 :92;21*; .:2 :&)2 -(K102

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2/(K( E , Q , G , DLA .-*+0()10( '*1./9='4&0( , .+*02:&/* 92)2102> M=/=9&./&3'& &57+2< J126*<29 .(.:*0( /9& '9&+( :&.&12 "C>IG ; & D! .-9(/ , +&3& J:&)2 *< TS98&79(;(T & ]=+29(L 1( 9('2/12+(1.&912 .&./2;2L<# c.1-(/ G( 7&G2.+1. 2,.-1*3-&9 2 *'7&/2 l1&7./G&-.-( J3- g1@+&(9 '*A j*/7&H(9 ![X:# ,F<&.'92/1* -9&;210=02 i(1*: -9&14&- T*<:(0(10(T .+=K2@27 & .+=K21*7 -9*./*9(> 7<2 02 *:(0 -9:&.;2)/21 =1=/(9 32+&312 42:(./2 92)2/'2 '*0( -*<=-&92 '*1./9='4&0=

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DC# Z2'*1./9='/&:&5(; "IN

]:# R(5:*0 (98&/2'/=92 -*.+2 !NQH# , =.'*13-/2'-&7&G(,

, A.'*13-/2'-&7&G(, ,F C,*A1&C B*'/.- 2 (/F&-.'-2/& *A '/(0( :^L-&F9 '*0& .2 -*5&:( 1(<2+* e/(1K23'*@ e&+*G*e( q(1( =./&A.> 1( 9=.'& '*1./9='/&:&5(;> =&)(1( & <9=72 -*'92/2 &+&31*./& 9(12 ;*<2912 =;2/1*./& '(* 1( M*9;(+12 &5:*92, T<2'*1./9='/&:&./&3'=T (98&/2'/=9= '(9('/29&)2 M9(7;21/(4&0(> <&.-295&:1*./> <&.'*1/&1=&/2/>&.'9&:+0212 -*:9)&12> :(1'*1/2'./=(+1* =-*/926+021& 2+2;21/&> &1<&M2921/1*./ -92;( *'9=K210=>.8:(/(102 =+*72 (98&/2'/2 '(* T./:(9(*4( M*9;2T & T&1/29-92/(/*9( <9=)/:(T JM&+*5*M&0( .=;102 lM&+*5*M&0( <2'*1./9='4&02L, /2*9&0( 8(*.( J= <&1(;&31*;L .;&.+=A (98&/2'/=9( /(+(.( & -*'92/(A 6&1(91( ./9(1( (98&/2'/=92B!# <=8 , /2+*A "# /2*9&0( , -9('.(A I# M*9;( , M=1'4&0(A D# ;&)+02102 , -2942-4&0(A G# -9*;&)+021* ,.+=3(01*A Q# +&' *602'/( J-*/9261* 02 &.-&/&:(/& *1* &5;2P= J;2./* , 12;2./*LL , *.1*:(, 7+(:1& ('/29&B U/.1' 6./&9 f(F( M(A&A J*-29( = i(9<&M= , <*6&+( '*1'=9.> (+& 1&02&5:2<21(L9 N.H'( @/2B( m*B M&,.+N+(2> ( = M*9;(+1*; .;&.+=> 6+&.'& .= & 12'& 9(<*:&`&-./( g0G.1,(1( & O.,( m*+F(3(A 0*) 12'&B b(0@./,(19 ?.1&)9 ?./1(/A %2,& J:&)2

12*'*1./9='/&:&./(L9 n(/21 J= *':&9= ;*<2912 -9*=3(:( *1* )/* @2 <*41&02 6&/& /2;(<2'*1./9='4&02L9 @/2B( g/F&-.'-*1&'(, -*./*02 <:( /&-( (98&/2'(/(B ;(P&*1&3(9 & +2'(9 , .+*02:&/*./ ,F :(K(1 /29;&1 J& +0=<.'* 6&@2 02 .+*02:&/*L, 5&< , :(K(1 2+2;21(/ <2'*1./9='4&02 J.(.2321> 5(.2321> 5('9&:+021> ###> '(* & <9=7& 2+2;21/&L, .27;21/& , = *<1*.= 1( 42+&1= J<2'*1./9='4&0( (98&/2'/=92 02 =:2' .27;21/&9(1(L ,M9(7;21/(4&0(, (98&/2'/=9( , =;2/1*./ ;2P=*<1*.(, &5;2)/(102 , &5 -9&9*<1*7 -*+*K(0( & .:*P2102 1( 1&:* .&;6*+(, -9&.=/1& & 12-9&.=/1& 5&<*:& , *.1*:1*, <&.-295&0( ,F 9(59(P21 -9*79(;

, <&./*95&0(, M9(7;21/(4&0(, +0=<.'* /2+* '(* (98&/2'/=9(, /215&0( ,F .=-9*/./(:+0(102 2+2;21(/( & <2+*:( ,F <9(;(/&31( -2942-4&0(, <2'*1./9='4&0( ,F '(* *<9(5 .:2/( & :92;21( J<2'*1./9='4&0( 02 = '*142-/= ;2/(M*9(L, <2'*1./9='4&0( 6& 8/2+( = .M292 '*142-/=(+1*7, <*:*<& .2 = -&/(102 .(;* M&5&3'* 6&@2 (98&/2'/=92A (98&/2'/=9( <2+=02 &./*:92;21* -9&.=/1*)@=& *<.=/1*)@=L



DN# i9&/&3'& 927&*1(+&5(; "DH

][# R(5:*0 (98&/2'/=92 -*.+2 !NQH# , m/&-&H'& /.@&*1(+&G(,

, C'/&-&H'& /.@&*1(+&G(,C 02 B*0(, m.1.-( U/(,B-*1(> '*0&; *1 *51(3(:( 927&*1(+12)'*+2 '*02 *<9(K(:(0= (1/& , 421/9&./&3'* 9(.-*+*K2102 J(.-&9(4&0= 5( '=+/=91*;> 2'*1*;.'*; &

-*+&/&3'*; 125(:&.1*)@=L> (+& & 1(-92<(' = 7+*6(+1*; .;&.+=A /0# 927&*1(+1* .2 ;(1&M2./=02'(* +*'(+1& *6+&' T.:2/.'2 '=+/=92T J3&1021&4( 02 <( 12 ;*K2 .:('( '=+/=9( -*<12/& &(-.*96*:(/& )*' .(:92;212 4&:&+&5(4&02A /* 02 -(9(<*'.B '('* -*./(/& .(:92;21> ( :9(/&/& .2&5:*9&;(> '('* *K&:2/& ./(9= 4&:&+&5(4&0= & =32./:*:(/& = *-)/*0> ###L, *:('(: -9&./=- ]9(;-/*1 1(+(5& = <2+= =(1K( Z*/1( l-G*1(9 @/2B. O 2 ?(/3.+*1&9`*/-2@(+K( W&G. D&.&/.9 T.'3&'(1K( E2&3( ?(/(F(1(9 J-(+&0(1( T(/&0( ?*-.9 Z(B(1K(b(A(* g1A( & -A#i (,./&H'& (/F&-.'-& g1-*(1 `/.A*' & T(/&,(' -('*p. 3-7(/(02 2*7('7&, *'7&/&,(, 1(4&0( 6& .2 . 02<12 ./9(12 /926(+( ='*921&/& = /+* .:*02 -9*)+*./&> '*:(/& '=+/=91& &<21/&/2/> (+&<( 6& ;*7+( =32./:*:(/& = .(:92;21*0 4&:&+&5(4&0&> 1=K1* 02 <( &./*:92;21* =32./:=02 =1(=31*0> /281&3'*0 & -*+&/&3'*0 ./:(91*./& , /* 02 -(9(<*'.

, 927&*1(+1= '=+/=9= 12 /926(;* -*.;(/9(/& '(* 12)/* <(/* & 12-9*;21+0&:*> 127* 12)/* )/*/926( <(1(. .:2.1* '=+/&:&.(/& & 6*7(/&/&, .1(7( -9*:&14&0.'2 '=+/=92 02 = 1021*0 .-*.*61*./& <( .(6&02 =;2/1&3'& & '9&/&3'& -*/214&0(+927&02 & &./*:92;21* (.&;&+&9( & 92&1/29-92/&9( ./9(12 =/&4(02

, B/.A3-(71&K& & A.+(4L Z*/1 l-G*19 =(1(K ,F *-29( J'(.1*;*<291&5(;L!# c/'7( ?(@37./A9 B/.A@/(p. m*B.1F(@.1(9 ![XS# ,F ;*1/(K1& 62/*1.'& 2+2;21/&

-*./(:+021& .= = (9;&9(1*,62/*1.'*; .'2+2/=> '*;6&1*:(102 .( .+*6*<1* 5(/(+(.(1&;(9;&9(1*,62/*1.'& .:*<*:&;( +0=.'2 9(5(-2/&; &5;2P= 2+2;21(/( .'2+2/(A -9&'+(<(1 .'+*-

62/*1.'&8 /281&'( , ;*<=+(91&8 ;*1/(K1&8 & +&:21&8> .=729&)2 <( .2 *:<2 (M&9;&)= 1*9;2

=1&:295(+12 4&:&+&5(4&02 & :92<1*./& .-24&M&312 '=+/=92B *:( :9./( 5(.:*P210(> 122'*1*;&31( =*<1*.= 1( -9# 1( 32+&312 1*.(32> 1(;291* 02 *<(69(1( 56*7 .&;6*+&'2 , .:*< *51(3(:( .:2/* =5(-(<1*0 '=+/=9& J(+& /2)'* <( .2 /( '9&:=+0( '9*:( = -92.2'= ;*K2 .;(/9(/& 5(-(<10(3'*;A

6+&K( 02> = '*1/2'./= .:2/*./&> &./*310(3'*0 -(7*<& , & .(; O/5*1 /* 1(5&:( 92&1/29-92/(4&0*;*9021/(+12 '*1./9='4&02 = 5(-(<10(3'*0 62/*1.'*0 /281*+*7&0&LA 5(-(<10(3'* , &./*310(3'(

-9*K&;(10(B *6+&' .:*<( & .:*<1* *.:2/+02102> <9:21& *':&9& -9*5*9( & <9:21& -9279(<1& 5&<*:&J'(* <( 2:*4&9(0= 1*9<&0.'& ./&+ 79(<102 49'(:( & /9(<&4&*1(+1= <9:21= '*1./9='4&0= = i&1& &c(-(1=LL C6/2B( OC9 ?(/3.+*1(9 *31*7(1( ![;!#, r9=-( R Ji(/(+*1.'& 1(4&*1(+&./&3'& -*'92/L -92<:*P21( W*3-/.3*, & ?*F&@(3*,> 6&+( 02:2@ 1( -*32/'= = .+*K21*; '=+/=91*; -*+*K(0=B /926(+( 02 . 02<12 ./9(12 *61*:&/&

9(4&*1(+&./&32 & (1/&M()&./&3'2 :92<1*./& rSq_aSi,( J-92<9(/1& )-(1.'& *79(1(' fVS?,(L> (.( <9=72 ./9(12 02 6&+( .:2.1( .:*02 -*+&/&3'2 *<7*:*91*./& <( /926( *K&:2/& 92(+&./&3'&927&*1(+&5(; <*./=-(1 )&9*'&; ;(.(;(A 8&69&<1& '(9('/29 .(:92;212 927&*1(+12 '=+/=92

-*.+2<&4( 02 9(5+&3&/&8 '=+/=91&8 &;-=+.(> -*;*@= '*0&8 02 ./:*921B '(/(+*1.'( /9(<&4&0( *-2'2> b*0/9( & 12*-+(./&4&5(;> 12*92(+&5(; &/(+&0(1.'*7 (98&/2'/2 r(9<2+2 J'*9&./&* 02 /9(<&4&*1(+12'(-'2> =.'2 -9*5*92 & <=72 &./=9212 ./9282L & 69&/(1.'& 1*:& 69=/(+&5(;L (/F# m*A./F ,F 3+(1 79=-2> *.4&+=02 &5;2P= ;*<291&5&9(1*7 ./&+( *-2'2> '*0& 02 -9:& -=/M*9;=+&.(* = .:*; *3,*3B/(-1*, 3-(,N.1*, N+*'2 JcT9 ?(/3.+*1(9 ![;!# ,F .( '(-4&;(42+*; <=K&1*; -9*5*9( & /(1'&; &./=921&; :214&;(> & (:(17(9<&./&3'2 12*-+(./&31* ,?&.*:.'2 '*;-*5&4&02 = m(3( m(-(3239 W&[email protected] ![;S#L O&H(/A ?*e&+ & b(+@./ J'(/(+*1.'& 927&*1(+&5(; = .+(6+0210=L

!# m*,B+.'3 m3(1(A29 m(+B.9 ![SX# ,F '&3(./& 9*;(1/&5(;



DN# i9&/&3'& 927&*1(+&5(; "D!

"# m*,B+.'3 D(+A.1 X9 W(1-A.37./19 ?(/3.+*1(9 ![X^#LX;# ,F 9(5;2/+0&: M*/*721&3(1'*;-+2'.> .( .+(6* *.:2/+021&; <12:1&; .*6(;(> ;(+&; 6(+'*1&;( & *6+*7*; *< '29(;&3'&8

-+*3&4(A /* 02 (98&/2'/=9( 1(94&.*&<1*./&> '*0( .2 -*5&:( 1( Y*M&+*:= 6(9*'1= .-*.*61*./ -*;*<1*./& & ;&./&'2L g+7(/ W&G. D&.&/. P`*/-2@(+(KR4 ,F .=-9*/(1 *< *:&8

, -*+(5&)/2 ;= 02 6&* S+:(9 S+/* & *1 02 .:*02 579(<2 5(.1*:(* 1( '*1M&7=9(4&0& .-24&M&312/*-*79(M&02 & 591(./*0 ./9='/=9& +*'(+1*7 /'&:(A 1027*:& 9(<*:& J5( 9(5+&'= *< Y*M&+*:&8L .= =.(:9)21*; .'+(<= .( 9=9(+1&; -9&;*9.'&; '9(0*+&4&;( a*9/(A +*'(+1& ;(/29&0(+&> 5(1(/./:* &.:2/+* ,F *<(1 &; 02 (+& 12 5(-(<( = .21/&;21/(+1*./ '*0( 6& &.'+0=3&+( 9(4&*1(+12 *6+&'2 &.(:92;21= /281&'=!# m2\( ?(/&.39 `*7*( A. D(/G&,9 ![X<#LXS#"# f@/(A( 3-(,N.1*@ 2A/2>.10( C?*2K(C9 ̀ */-9 ![X<#LXX#<# U&+&0(+( N(1'. `&1-*9 8+&7&./( A. gG.,.&39 ![X]#L O.0,*1A gN/(F(, Pg23-/&0(1(K 2 j02 Z*/'2R, .+&31* W&2&92=> 1(7+()(:( '92&9(102 +*'(4&02 & /*-*79(M&0= *6+&'(!# m2\( 3( -/& G&A(9 j02 Z*/'9 ![X"#

"# m2\( 3( K7.-1&, G&A*7&,(9 j02 Z*/'9 ![X<#<# `/*0.'(- 02>1*@ A.+( U/&A/&F)-(A-(9 ?./+&19 ![:!#L E2&3 ?(/(F(1 PT.'3&'(1(KR, & *1 02 6&* T<&5(0129 '9(0*+&'(T & /2K&* 02 .215=(+1*0 (98&/2'/=9& -*:25(1*0 .( /+*;> (98&/2'/=9&*79(P21&8 -9*./*9(> M*1/(1(> :*<*/*'(> (98&/2'/=9& .;2)/21*0 = :=+'(1.'= ./21= & 6=01=:272/(4&0=A *.2@(0 5( ;&/.'2 & =9*P212 -*32/'2A .1(K(1 =/&4(0 .2@(10( &5 <2/&10./:( .(

-*9*<&31*7 9(13(> 7<2 02 52;+0( 6&+( 49:21(> '=@2 .( *79*;1&; ./928(;( & '9*:*:&;( *<492-(> .&./2; :*<*:*<( :9+* <*;&)+0(/> <*;(@2 K&:*/&102 ,F 6(0'*:&/ &57+2<A /( .2@(10( .= 6&+(

-*:25(1( .( 1027*:&; <*K&:*/1&; 6(:+02102; &.+(;.'*; (98&/2'/=9*;!# m2\( & (-.+0. *'* G(-7*/.1*@ A7*/&)-(9 b('2N(&9 ![]X#"# D/-*7& G( 3-(,N.12 H.-7/- E(3 g/N*+.(A(39 ![;:#LS!# & E(3 m+2N.39 ![S!#LS]# ,F.'+*1*./ '( :2+&'&;> .'*9* 12-927+2<1&; -*:9)&1(;(> (-./9('/1&; -*./(:+021&; = '9(0*+&'<# b*/10.7& 3(-.+&-3'*@ @/(A( L 3( 6./&-3*,9 T.'3&'* 3&-&9 ![;X# ,F '9=1( 79(<(L g/,(13& D&+&0(,3 Pg/@.1-&1(KR!# m2\( L ,*3-9 T(/ A./ `+(-(9 ![]<#L];#"# E*1A*13'( & 02>1*(,./&H'( N(1'(9 ?2.1*3 g&/.39 ![;[#L 51A/02 ?(-.0 & T(/' T(' PWg=R!# m2\. 2 m(+&e*/1&0&L M./& D*+e PWg=R, 1027*:( <2+(/1*./ 02 ./9*7* *79(1&321( 1( \2:291= i(9*+&1=!# O&7./e/*1- `+(G(9 U*/- E(2A./A(+.9 ![:"# ,F '*1'=9.1& 9(<> 1(;29( ;= 02 6&+(> '('* .(;

'(K2> <( .2 = -9*./*91* 92)2102 =-&)2 &./*9&0( 79(<(> & /* -*;*@= 2M2'/( .:2/+( J*6*K(:(102\=14( & ;292102 :92;21( -*;*@= 1027*:2 .:2/+*./& .2K= = 1(09(1&0= &./*9&0= 3*:23(1./:(A ]*9/X(=<29<(+2 02 1( "Q ./2-21& \2:2912 72*79(M.'2 )&9&12 '(* & q26( , -92<./*1&4( 27&-(/.'*7

6*7( \=14(> & '(* c(&-=9=> V1<&0( 7<2 02 1(-9(:+021 1(0:2@& .=13(1& .(/ 1( .:2/= !!H 7*<&1( -92 *.1&:(10( ]*9/ X(=<29<(+2(LA 5(/* 02 .=13(1& .(/ = *:*; -9*02'/= =.2321 = -9*./*9 a+(52> (1027*: 71*;*1 <2+& -9*./*9 -* *.& .2:29 , 0=7A .:& 6&/1& <(/=;& &5 &./*9&02 *:*7 79(<(5(62+2K21& .= 1( .23&:= .(/(L s&1* D(+. PJ-(+&0(1R, <2+(/1*./ :25(1( 5( 79(< O<&12 ='+0=3=0=@& 92&1/29-92/(4&0= .2*.'*7 +*;6(9<&0.'*7 &59(5(!# W*B3-7.1( '2\( m(G( m2(@+&0(9 W2-/&09 ![;]#L;S#L g+N./-* W(/-*/&3 PJ-(+&0(1 2 n7(0K(/3'*0R

!# c/'7( 2 E*2/-&0./29 ![<"#"# =7. ,(+. '2\. 3( N.-*13'&, 3'.+.-*, & 7&1*@/(A&,(9 ![<]#L<[#



DN# i9&/&3'& 927&*1(+&5(; "D"

L T(/&* ?*-( PJ-(+&0(1R -0# n7(0K(/(K, M*9;(+1* )'*+*:(102 *6*7(/&* 02 '9(/'*/9(01&; 9(<*; .( X=&. i(1*; & X2 i*96&502*;> <*'.= 9(<&+& 79(P(1.'2 '=@2 = W2124&0&A /('* 02 -*32* =.:(0(/& &/(+&0(1.'= 12*9(4&*1(+&./&3'=;2/*<*+*7&0=> (+& 02 & 5(<9K(* 12.:('&<()10= .-*.*61*./ <( 5(1(/.'& *6*7(@=02 *6+&'2J1(0275*/&31&0& -9&;29 /*7( 02 -9&;21( -*+&9(1*7 7&-.( = *6+(7(10= '(;&1( = -92=92P21*0

.2*.'*0 '=@& = X&79&7(1=> !NEN#A Y*/( .2 &1/292.=02 5( T79(P2102 +*'(4&02T> ( /('*P2 .;(/9( <(.2 7=6&/(' &./*9&0.'*7 79(<( ;*K2 1(<*'1(<&/& T;(+&; 79(<*:&;(TA Y*/&12 '=@292&1/29-92/&9(0= '=+/=9= '9(0(> -*./(0=@& &./*:92;21* 1027*:* *62+2K02!# m2\( O&7(9 W(1 D&-(+.9 ![X"#LX<# ,F (.*4&9( 1( /9(<&4&*1(+12 +2/10&'*:42 T9*'*+&02T '*0&;

02 12'(<( *6&+*:(* '9(0"# m2\( 2 E&@*/1.-2 ,F *51(3(:( '9(0 .2+( & -*32/(' (79(91*7 -*<9=30( J1021 1(0:2@& */:*9*<:9(@( *< -*+0( & *'92@2 '( .2+=L, Y*/&12 '=@2 .= 32./* = :&<= 6=1'29( , 62+:2<29(> ( -9*5*9& 7+2<(0= 1( *<(69(12 <2+*:2'9(0*+&'(> .'9&:(0=@& 625*65&91& 9(5:*0 -92<79(P(> '*0& 02 = q&4&1= 6&* ('/=2+(1A 1027*:(=.'+(P21*./ .( <2+&;&31* -*+0*-9&:92<1&; '9(02; -9*&5&+(5& &5 10&8*:2 (1(+*712 M*9;2 &.-*+0()102 *69(<2B .:2/+& 62/*1.'& 6+*'*:& '*1./9='4&02 & )'*+0'2 = *6+&'= .&+*.( &+& (;6(9(

, -*92< *.2@(0( 5( <*;(@& .215&6&+&/2/ '*0& 02 & .(:92;21 & /9(<&4&*1(+(1> Y*/( 02 & '9&/&529> (1(0'9&/&31&0& = 0(:1&; -9*02'/&;(B 1(9*3&/* = '=@& = X&7*912/= J= .(9(<10& .( n*G&0.,RT:&0(<='/(+1(T<# c.1-(/ =&/.G&*1(+.9 `./2p( ,F T79(< = 79(<=T> 12&5:2<21 -9*02'(/> (+& <( 02 6&* *./:(921;*7(* 6& .2 .8:(/&/& '(* T:&0(<='/(+1( ;27(./9='/=9(T = =96(1*; *'9=K210= 625 -*:92P&:(10(&./*9&0.'*7 <2+( 79(<(]# q.+.G1&H'( 3-(1&K(9 c&/&F9 ![X:# ,F -92+(5 = :&<= ;*./( 1( :&)2 1&:*(> '*0& 6& .(<9K(:(*<=@(12> =92<2 & 92./*9(12> -(9'&9(+&)/(> ( 6&* & 7+(:1( T579(<(TL b(A(* g1A* PZ(B(1(KR, :&.*'( .:2./ * 927&*1(+1*; & 5(/* 02 9(<&02 = p.('& 127* = q*'&=A .:*0( 9(5;&)+0(10( *1(-2/*./&;( &5;2P= *-)/2 ;*<291&5(4&02 & *.*621*./& -*./*02@2 927&*1(+12 '=+/=92> &51*.& =.3.02 C8A 3(7/.,.1. (/F&-.'-2/. G(-7*/.1. 2 3.N. B/.,( 21&7./G(+1*3-&C J1('*1 <9=7*7.:2/.'*7 9(/(> c(-(1 02 '921=* -=/2; 69K27 2'*1*;.'*7 9(5:*0(> )/* 02 -*:+(3&+* & -9*;21=:92<1*./&A ./(9&> = *.1*:& M2=<(+1& -*9*<&31& .&./2; .2 9(.-(*A -921(.2+021*./ 79(<*:( &

-92<79(P(> *12;*7=@&+( 02 <( .2 .(3=:( *1( 49/( /9(<&4&*1(+1&8 0(-(1.'&8 +2/10&'*:(4( , =.'( -*:25(1*./ .( -9&9*<*;A *1* 32;= *1 /2K& 02./2 92./(=9(4&0( 02<&1./:( '=@2 & -9&9*<2> '*0= .= 0(-(1.'2 '=@2 &57=6&+2 = -9*42.= ;*<291&5(4&02L!# T(+. '2\. 3( A7*/&)-&,(> 32./* .= = 7=./*; =96(1*; /'&:= ,F '*9&./& 62/*1 029 021(0-*<2.1&0& 5( 92(+&5(4&0= -*:9)&1( '*02 .= ./:*9212 59(4&;( \=14(> 7<2 5&<*:& -*./(0=(-./9('/1& T+&;&/ -9*./*9(T"# m2\( m*)&'*9 83('(9 ![:!# ,F :92;21*; .:2/+*./ ;210( &59(5> -&)2 S1<*A <2/(+0 02 5(

1027( 2+2;21/ '*0&; .2 -*./&K2 M&5&3'( '*;-*5&4&0( = (98&/2'/=9&> (+& & .+&'( (98&/2'/=92L =&,&-/&3 & W2G(1 g1-*1('&3 P6/K&R, r93'( , *< 1(4&*1(+1*7 12*'+(.&4&5;( UVU :#> -92'* +*'(+1*7 &./*9&4&5;( !N"H,/&8> <*

-9&:9K21*./& ;*<291&5;= !NIH,/&8 ,F :(9&0(4&02!# W-(,N.1( G@/(A(9 g-&1(9 ![X;# ,F .+*02:&/* 5<(102 .( +(:&9&1/*; -9*+(5(A &5:*9 02 793'&*./9:.'& ./&+ =;2/1=/ = -9(:&+(1 9(./29 (9;&9(1*,62/*1.'*7 .'2+2/(L g/&3 m*13-(1-&A&3 P6/'R!# m2\( 5+.2G&39 ![<:#"# D/-1( &G+*>N( m&e&3&0(9 ![]^#<# Z.e-&1& 3-(,N.1& B/*0.'-& & F*-.+& G( -2/&3-&H'2 */@(1&G(K&02 m3.1&0(9 ![;S#LSS#, = .:&; 1027*:&; 9(<*:&;( -9&.=/1( 02 1(-2/*./ &5;2P= =1&:295(+12 9(4&*1(+1*./& (9;&9(1*,

62/*1.'&8 '*1./9='4&0( & (=/*8/*1*7 .215&6&+&/2/( <*;(@27 '(;21( & 6+*'*:( '(* &.-=12



DN# i9&/&3'& 927&*1(+&5(; "DI

L =&,&-/&3 `&'&*1&3 P6/'R ,F '*1'=9. 5( -9&+(52 S'9*-*+0=!# `(/' & ).-(+&)-. 1( N/.>2+0'2 U&+*B(B239 ![;X# ,F 1( ./9(1& *'921=/*0 '( (/&1.'*;S'9*-*+0=A (98(&3(1 '9(0*+&'> +&)21 /281*+*)'*7 275&6&4&*1&5;( & M(1/(5&02A -9*./*9 5(;2<&/(4&0= = *.(;&> 5( &1/&;12 9(.-9(:2> ;(+2 & :2@2 .'=-*:2> ###A /(0 1&5 1&)( & -9*+(5( .(/'(*

02 *< *<7*:(9(0=@&8 <2+*:( K&:*/1*7 -9*./*9( 1(9*<12 (98&/2'/=92A 92)&* 02 -9&./=-12 -=/2:2

S'9*-*+0= '(* <( .= &5 :92;21( 79(<102 J='+*-&* &8L

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