ABCADEFGHEIEJKLEAMLNOLPLQERLQESTC
DQUEHGV
JKLEDWMLXYLXO
Z[NE\PMLQOE\WLN]LX DEFGHFIJEIKLEMNOPQGRSPGTULVPWGXEFLYGEPGZ...
12 downloads
806 Views
997KB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
ABCADEFGHEIEJKLEAMLNOLPLQERLQESTC
DQUEHGV
JKLEDWMLXYLXO
Z[NE\PMLQOE\WLN]LX DEFGHFIJEIKLEMNOPQGRSPGTULVPWGXEFLYGEPGZFPG[FKUSIGHVIPNVQNFI\]N^PPWUG_OGQFLVPQFPYGO`GZSIUGZFPGTOaUIVQGZFIGbSW`SKIVUFPG_OGFIacLLFPYGWMNFEPUGVOBFINVLC ZFIGDEQLEMNKFEUFPGZFWGTIKSPEZFPG_OGLEFQFPFGDFPPGCFE`GFPUWMNFEZFPZFPGbV`GaGQFQFPGHEZZFP\IGJOIZFGTULVPGZEFG]IOPZLVQFG_OIGJIacLLOPQGWFEPFWGTOaUIVQFW FPU_SQFPKGZVWGLEWWFPGO`GZEFGbSSIZEPVUFPGRSPGHVIPNVQNFI\]N^PPWUF DSMNGTULVPGQECUGPEMNUGVOaMGN`GOFJOBUWFEPYGWEMNGZEFGRFILSIFPFPGbSSIZEPVUFPGJEFZFIGCFWSIQFPG_OG`cWWFPYGaSLQUGZFIGTIKSPEZFGFEPFIG[GOIYGZEFGEPGZEFG]VLVPEW IEEPP\DVIKVPUGacNIUYGJSGZEFG[QRGEPGFICEUUFIUFGbS`GaFGRFIJEMKFLUGJEIZFG[MNLEFBLEMNYGQFQFPGJPZFGZFWGTVNIFWGUVWXGYFIIV_FEUYG`OBGZEFG[QRGZFPG[UOI_GEPW ZEMNUWGJVQFPYGOPZGWEFGQFLVPQUGZVCFEGPVMNGOVIW\[\OVIWYGEPGZEFGVOWG_JFEGEPFEPVPZFIGRFIWMN`SL_FPFPG]VLVPEFPGCFWUFNFPZFG[UFIPFPEPWFLFGDEFGHFINSLUPEWWF ZSIUG WEPZG `FNIG VLWG RFIJEIIFPZYG JEFG ZEFG [SLVPFIG CVLZG FIKFPPFPG `cWWFPFG DVG WEPZG ZEFG HELKFIG ZFIG KcPWULEMNG QFWMNVaaFPFPG DSGGFLQVLVPEWYG ZEFG FEPVPZFI FICEUUFIUGCFKS`GaFPFGDVGWEPZGZEFGDVPEaFWUVUESPFPGZFIGXFPUIVLEPUFLLEQFP_FPGZFIG]VLVPEFPYGRFIKEIGFIUGEPGTULVPWG\IFOPZEPGY^VIEGOPZGD]VELV`YGZF`GHcPFPG^GOPZ ZVGEWUGZVWGRFIZFICLEMNFGLEIKFPGRSPGTPUE\J[YGZF`GJI_aFEPZGZFIG[SLVPFIF DEFGEPGZFIGZV`FPLSWFPGXSPFGQFaVPQFPFGPFQVUERFG[OGFIEPUFLLEQFP_GVICFEUFUGcCFIGDNJGZTOJRLJRYGFFF
DEFGHIJKLKFMNOPFPGQFNGROSIPNT ULVIP ! "#$ %$&'()*# +,$- #)(#( .)/+-)0#( 1#$)/+-2 WOMLFM ! 3)( 4#(*5'-# 6,55#&)(072 WOMXGJPQGYFZI ! 8.#) 9:;-)72 [IPP\GJPQG]EX ! %-;1NLY_Q [SK ^hJYWOSZMQMKLPKSTK+hMLWKQ*\JYWKOONWS\JQ-RKSKLQKSJNJ[KLQaMJOSZMKLQ]cSLNOTNONYSKJ_QbSWQ[KLQ?NbKJO\YKJQ8\JKQXKLPNJ[_QR\QfJWS>7]QPSYONJTQJSZMWQKSJbNOQKSJK X\JQ-KMJQ5KONWSX>7SJMKSWKJQYKSJKLQAKLPNJJVJTQMSJWKLQYSZMQTKPLNZMWQMNWWKdQAKLbVWOSZMQRhL[KQKYQNVZMQJSKQhPKLQ[SKYKQKLYWKQ7SJMKSWQMSJNVYTKONJTKJ_Q[KJJ YKSJQ TNJ-KYQ @NJ[KOJQ RS[KLYcLNZMQ [KbQ 2aVWKLVJTYcL\-Kg_Q [KJQ [SKQ *\Yb\^LNWKJQ X\JQ SMbQ KLRNLWKWKJdQ fJWS>7]Q R\OOWKQ [SKQ 0LKSMKSWQ VJ[Q RhL[KQ NOOKY [NLNJYKW-KJ_QVbQ[SKYKQ0LKSMKSWQ-VQKLONJTKJdQfV+QYKSJKQCKSYKd .WJYKLQ,KTJKLQMNWQJSZMWYQ-VQXKLOSKLKJd/QfWONJQYZMLKZ^WKQNVYQYKSJKJQZPKLOKTVJTKJQNV+QVJ[QRNJ[WKQYSZMQX\JQ[KbQ^OKSJKJQU\JSW\LQ[KLQfVgKJPK\PNZMWVJT NPdQ]KSJQ1OSZ^QMVYZMWKQhPKLQ[SKQYcaLOSZMK_QhPKLRSKTKJ[QWKZMJSYZMKQ7SJLSZMWVJTQ[KLQ*NPSJK_Q[SKQ[KJJ\ZMQVJXKL^KJJPNLQ[SKQ@NJ[YZMLS+WQSMLKYQ1KR\MJKLY WLVT_QVJ[QPOSKPQYZMOSKgOSZMQNJQ[KLQ0LNVQMaJTKJ_Q[SKQSMbQY\QaMJOSZMQYNMdQ4;NLSQRNLQ[_\]QUKWKLQTL\gQVJ[QRSL^WKQWL\W-QSMLKLQPKW\JWQRKSPOSZMKJQ0\LbKJQ^La+WSTd eNYQYZMO\MRKSgK_QO\Z^STKQ@NNLQWLVTQYSKQ-VLhZ^TK^abbW_QKYQ+SKOQSMLQPSYQ+NYWQ-VLQ@h+WKdQUhMKO\YQMSKOWQYSKQfWONJYQ+\LYZMKJ[KbQ1OSZ^QYWNJ[dQ]SKQYchLWKQ[SK ,K+hMOK_Q[SKQKLQSMLQTKTKJhPKLQKbc+NJ[QVJ[QbNJZMbNOQVJWKLQKSJKLQUNVKLQNVYQWJYSZMKLMKSWQ-VQXKLPKLTKJQYVZMWKdQfWONJQRNLQSLLSWSKLWdQfOOKY_QRNYQKLQWNWQVJ[ YNTWK_QYZMSKJQSLTKJ[RSKQKSJQVJPKRVgWKY_QTK+hMOYbagSTKYQfPWNYWKJdQfOYQRhL[KQKLQJ\ZMQbKMLQ+hLQbSZMQKbc+SJ[KJ_QNOYQKLQ`KbNOYQ-VTKTKPKJQMNW_QYZM\gQKY 4;NLSQ[VLZMQ[KJQ]SJJdQeNYQYc3WWSYZMKQfV+POSW-KJQSJQSMLKJQL\WKJQfOPSJ\NVTKJQXKLNJONgWKQ[KJQfL^\JS[KJ_QYSZMQNPLVcWQRSK[KLQ[KbQU\JSW\LQ-V-VRKJ[KJd 8RSYZMKJQSMJKJQPKYWNJ[QXSKOQbKMLQNOYQ2\;NOSWaWdQ]SKQNLPKSWKWKJQKJTQ-VYNbbKJQVJ[QYSKQOKPWKJQSJQKSJKLQ*NPSJKd .0hLQfJWS>7]QYSJ[QRSLQKSJQ0N^W\L_Q[KJQKYQJVLQYZMRKLQPKLKZMJKJQ^NJJ/_Q+VMLQ4;NLSQ+\LWdQ.CSLQTK+aML[KJQ[SKQZPKLTNJTYYWKOOKJ_QNV+Q[SKQKYQNJTKRSKYKJQSYWd/ fWONJQYZMhWWKOWKQ[KJQ*\c+_Q-3TKLWK_Q-VZ^WKQ[NJJQbSWQ[KJQ]ZMVOWKLJd .CKJJQKYQYSZMQXKLbKS[KJQOagW_QRKL[KQSZMQ[SKQ]:2Q^hJ+WSTQX\JQ^abc+KLSYZMKJQfVYKSJNJ[KLYKW-VJTKJQ+KLJMNOWKJdQ2\\W;J[\OQMNWQbSLQRSK[KLQKSJbNOQX\L fVTKJQTK+hMLW_QRSKQTL\gQ[NYQ5SYS^\QSYWd/ .1OKSPWQ [SLQ hPKLMNVcWQ KSJKQ CNMOX/Q .fJWKL+Q YZMKSJWQ KSJQ YSZMKLKLQ :LWQ -VQ YKSJ_Q Y\JYWQ MaWWKQ fJWS>7]Q OaJTYWQ KLJKVWQ -VTKYZMONTKJdQ CNLWKJQ RSLQ NP_Q RNY TKYZMSKMWd/Q.IZMQMNPKQ[SZMQPSYMKLQJSZMWQNOYQKSJKJQUNJJQ^KJJKJTKOKLJW_Q[KLQ[NYQWJNJTKJKMbKQX\LQYSZMQMKLYZMSKPWd/ 7SJQVJRSOOSTKLQ8VTQONTQVbQ[SKQUVJ[RSJ^KOQ[KYQfL^\JS[KJd .eSKQ]SWVNWS\JQSYWQ+KYWTK+NMLKJ_QRNYQ[SKQKSTKJWOSZMKQVL\POKbNWS^QX\JQ1NLY>=>1NLYQPKWLS++WdQfPTKYKMKJQX\JQVJYKLKJQ1KbhMVJTKJ_Q[NVKLMN+WKJQ0LSK[KJQ-V YWS+WKJ_Q RKL[KJQ [SKQ A3O^KLQ X\JQ 1NLYQ VJ[Q 0NL;JWQ KYQ YKOPYWQ TKbKSJYNbQ ^NVbQ YZMN++KJ_Q SMLKQ ,NONYSKJQ X\JKSJNJ[KLQ -VQ O3YKJdQ eN-VQ +KMOKJQ J\ZMQ [SK fJYNW-cVJ^WKd/ .IYWQKYQJSZMWY_Q[NgQRSLQSJ-RSYZMKJQX\JQ[KLQ7YSYWKJ-Q[KLQ?NPKOQRSYYKJXQWJ[QSLTKJ[RNJJ_QfWONJ_Q\PQ[VQRSOOYWQ\[KLQJSZMW_QRSLYWQ[VQSJQ8VT-RNJTQTKLNWKJdQeNJJ JabOSZM_QRKJJQfJWS>7]QNV+Q[KJQKSJ-STQO\TSYZMKJQ,K[NJ^KJQXKL+aOOW_Q[SKQ]:2QSJQ[SKQ?NbKJO\YKQ8\JKQ-VQKJW+hMLKJ_QVbQY\Q`K[KQRKSWKLKQ,K+aML[VJTQYKSJKL WKZMJSYZMKJQ7SJLSZMWVJTKJQ-VQXKLbKS[KJd/QeKLQfL^\JS[KQJSZ^WKQYZMRKLd .IZMQRKL[KQbSWQ1LKZ^Q[NLhPKLQLK[KJd/QeVLZMQKSJKJQ1OSZ^^\JWN^WQ-VLQ]KJY\LYZMNOWVJTQ[KYN^WSXSKLWKQKLQ[KJQU\JSW\LQ[KLQfVgKJPK\PNZMWVJTdQeNYQ,KRSWWKL_ [NYQhPKLQ[KbQ2NJ[K+KO[QVJ[Q[KLQJNMKQTKOKTKJKJQ]WN[WQ*NLJ>fJWQJSK[KLTSJT_QRNLQMK+WSTKLQTKR\L[KJdQIJQVJVJWKLPL\ZMKJKLQ0\OTKQ-VZ^WKJQTLKOOKQ1OSW-KQNVY [KLQYZMRNL-KJQC\O^KJ+L\JWQMKLX\L_QRaMLKJ[QTL\gKQ@NTKO^3LJKLQ[SKQ7PKJKQbSWQKSJKLQRKSgKJQeKZ^KQhPKL-\TKJd IJWKLKYYSKLWQPKWLNZMWKWKQ4;NLSQKSJKQ5KSMKQ+NLPKJcLaZMWSTKLQfV+JNMbKJ_Q`K[KQ^NVbQ-KMJQbNOQ-KMJQ8KJWSbKWKLQbKYYKJ[dQeVLZMQ[SKQ[hJJKJQVONYWS^PO3Z^K_QSJ [SKQYSKQKSJTKYZMb\O-KJQRNLKJ_QRSL^WKJQYSKQVbQKSJQASKO+NZMKYQTL3gKLd .eKSJKQ@KSbNWX/ fWONJQ-3TKLWKQbSWQ[KLQfJWR\LWdQeSKQ1SO[KLQ-KSTWKJQKSJKJQPONVQOKVZMWKJ[KJQVONJKWKJ_QKSJTKPKWWKWQSJQ[SKQYNbWKJKQ]ZMRaL-KQ[KLQWJKJ[OSZM^KSWdQWJ[Q[SKYK CKOWQPKYNgQKSJKJQ^OKSJKJ_Q-KL^Oh+WKWKJQ1KTOKSWKLd .0NYWQRSKQ]KOKWKL+/_QPKbKL^WKQ4;NLSdQ.7SJQYZM3JKLQVONJKW_QKSJKYQ[KLQ^VRKOKJQ[KLQ]ZM3c+VJTdQWJ[Q[SKYKLQPLNVJ>TLhJKQ*\JWSJKJWQTOKSZMWQVNOONJ[Qddd/ .eNYQSYWQf+LS^N/_QYNTWKQfWONJdQ.CNYQ[VQNOYQ^VRKOQPK-KSZMJKYW_QRNLQJSZMWQSbbKLQY\dQeNYQ2KPKJ_Q[NYQ[SKYKQCKOWQMKLX\LTKPLNZMWQMNW_Q+hMLWKQYSKQNJQ[KJQ5NJ[ [KLQAKLJSZMWVJTQddd/Q.eSKQ]\ONJKLQYWNbbKJQX\JQ[\LWX/QXKLbVWKWKQ4;NLSQYc\JWNJdQ.IZMQYKMKQKYQ[SLQNJd/Q.8VbSJ[KYWQ[SKQA\L+NMLKJQXSKOKLQX\JQSMJKJ/_QJSZ^WK [KLQfL^\JS[KdQ.eSKQ7L[KQSYWQbKSJKQ-RKSWKQ@KSbNW9Q]7?77]QTKYZMSZ^WQR\L[KJQYKSJ/_QXKLbVWKWKQ4;NLSdQ.CSKQY\JYWQY\OOWKQKYQYabWOSZMKQ]SZMKLMKSWYYcKLLKJQVbQ[SKQ]:2QhPKLRVJ[KJ
MNPKJd/
fVYQ[KLQCNO-KQKJWYWNJ[QRSK[KLQ[NYQ*aYWZMKJ_QRSKQKYQYSZMQNV+Q[KLQ*\JY\OKQPK+VJ[KJQMNWWKdQ7YQRSL^WKQVJTK+aMLOSZMdQ4L\W-[KbQPOSKPQ[SKQ0LNTK_QRSKQKYQJNZM
]:2><SW;QTKONJTWQVJ[QX\LQNOOKb_QYKSWQRNJJQKYQNJQ1\L[QRNLdQ7YQbVgQJSZMWQVJPK[SJTWQKSJQ,KTJKLQYKSJ_QRSYcKLWKQ[KLQ7YWLNYSJJd
eNYQeSJTQYNMQWKZMJSYZMQNVYdQASKOOKSZMWQPKYWNJ[QKYQNVYQPKOSKPSTQXKLaJ[KLPNLKLQ0\LbKJKLTSKd
*VL-Q KJWYZMO\YYKJQ PhZ^WKQ fWONJQ YSZM_Q [\ZMQ KMKQ YKSJKQ 0SJTKLQ [NYQ *aYWZMKJQ PKLhMLWKJ_Q PSO[KWKQ KYQ KSJKQ ASKO-NMOQ RSJ-STKLQ fVYRhZMYK_Q NV+Q [KJKJQ KY
POSW-YZMJKOOQVJWKLQ[KJQJaZMYWYWKMKJ[KJQ]KYYKOQ+OhZMWKWKd
4;NLSQLSK+QhPKLLNYZMWQNVY`
.eNYQ^3JJWKQY\TNLQKSJQ2KPKRKYKJQYKSJdQ*KSJQ5\P\WKLQPKYagKQ[KJQIJYWSJ^W_QYSZMQVJWKLQ[KbQ]KYYKOQ-VQXKLPKLTKJd/
fWONJQJSZ^WKQ^JNccdQ7SJKbQ]ZMLNJ^+NZMQKJWJNMbQKLQKSJQ[\ccKOWQ+NVYWTL\gKYQ]WKVKLTKLaW_QbSWQ[KbQYSZMQKSJQ^OKSJKLQVLNOOYZMSLbQKL-KVTKJQVJ[QYWKVKLJQOSKgd
7SJQ,LSJYKJQMVYZMWKQhPKLQYKSJQ,KYSZMW_QNOYQKLQ[NYQeSJT_Q[NYQJVJQ[SKQ0\LbQKSJKLQcOVbcKJQ]cSJ[KOQPKYNg_QNVYQ[KYYKJQAKLYWKZ^QMKLX\LWLSKPd
]KOWYNbKQ ,KLaVYZMK_Q [SKQ YSZMQ RSKQ XKLMNOWKJKYQ bKJYZMOSZMKYQ 2NZMKJQ NJM3LWKJ_Q KL+hOOWKJQ cO3W-OSZMQ [KJQ 5NVbdQ IbQ JaZMYWKJQ U\bKJWQ RNLQ [SKQ ]cSJ[KO
XKLYZMRVJ[KJ_QNOYQMaWWKQYSKQJSKQKYSYWSKLWd
a
.7YQ[KJ^W/_QKL^OaLWKQ4;NLSQYc\JWNJdQ.*NJJYWQ[VQYKSJKQfJRKYKJMKSWQJ\ZMQRNMLJKMbKJX/
.7YQSYWQSLTKJ[R\QSJQ[KLQ?aMK_Q\MJKQ[NgQSZMQNOOKL[SJTYQYKSJKQfPYSZMWKJQ-VQKL^KJJKJQXKLbNTdQ8VQXSKOQAKLYZMSK[KJKYQTKMWQX\JQ[SKYKbQ,KYZM3c+QNVYd/
fWONJQRNJ[WKQYSZMQ-VbQIJWKL^\bQVbdQ.eNYQSYWQKSJKQfV+TNPKQ+hLQ1O3[KOdQCKJJQ`KbNJ[QMKLNVY+SJ[KJQ^NJJ_QRNYQddd/Q:++KJYSZMWOSZMQKLYWNVJWQVJWKLPLNZMQKLQYSZM
VJ[Q+hMLWKQLNYZMQMSJWKLKSJNJ[KLQKSJKQ5KSMKQX\JQ]ZMNOWVJTKJQ[VLZMd
.eKLQIJWKL^\bQSYWQW\Wd/
fVYQ[KLQAKL^OKS[VJTQ[KYQ,KLaWYQYZM\PQYSZMQKSJQMKOOKYQ0OSbbKLJQMKLX\L_Q[NYQLNYZMQbNWKLSKOOKQ*\JWVLKJQNJJNMbdQIJJKLMNOPQRKJSTKLQ]K^VJ[KJQYZMRKPWK
KSJQ KWRNQ XSKL-STQ bNOQ XSKL-STQ 8KJWSbKWKLQ bKYYKJ[KLQ ChL+KOQ SJQ fVTKJM3MKdQ ]KSJKQ :PKL+OaZMKQ RNLQ RSKQ KSJQ ]cSKTKOdQ fWONJQ YchLWKQ KSJQ OKSZMWKY_Q YSZM
NVYRKSWKJ[KYQ8SKMKJQSJQ[KJQ]ZMOa+KJd .eNQSYWQKYQRSK[KL/_QYWKOOWKQ4;NLSQX3OOSTQhPKL+OhYYSTQ+KYWdQfVZMQYSKQYZMSKJQXKLVJYSZMKLWdQ.7YQ[KJ^W_QNPKLQJ\ZMQ^NJJQSZMQYKSJKQ,K[NJ^KJYWL3bKQJSZMWQLSZMWST KL+NYYKJdQ6QCNLWK_/QLSK+QYSKQYZMJKOO_QNOYQfWONJQJNZMQ[KbQChL+KOQTLKS+KJQR\OOWK_Q[KLQKLJKVWQYKSJKQ0\LbQ-VQXKLaJ[KLJQPKTNJJdQ.7YQ6QSZMQMNPKQ^KSJKJQNJ[KLKJ fVY[LVZ^Q[N+hLQ6QKYQXKLYVZMW_Q[KSJKQ]cLNZMKQ-VQKLOKLJKJd/ V\LWKLQSYWQMNLbO\Y_QPKMNVcWKWKQ[KLQ7YWLNYSJJd V\LWKLXQTNPQfWONJQ-VLhZ^d ]\QJKJJWQKLQYSZMdQ7SJQ0LKVJ[_QYNTWQKL_QMNWQSMJQTKYZMSZ^Wd eKLQfL^\JS[KQYKV+-WKdQCNYQRKSgWQ[VQNVgKL[KbX ?SZMWYd fOObaMOSZMQXKLYZMRNJ[Q[NYQ8SKMKJQVJWKLQ[KLQ]ZMa[KO[KZ^KQRSK[KLdQfWONJQTONVPWK_QKSJKJQ@NVZMQX\JQ7SJYNb^KSWQVJ[Q]KMJYVZMWQRNML-VJKMbKJ_QRNLQYSZM [KYYKJQNPKLQ^KSJKYRKTYQYSZMKLdQV\LWKLQMNWWKQNPKLbNOYQ*VTKO+\LbQNJTKJ\bbKJ9Q[SKQYWSOSYSKLWKJQWbLSYYKQKSJKYQbKJYZMOSZMKJQ,KYSZMWYQ-KSTWKJQYSZMQNV+ YKSJKLQ:PKL+OaZMKdQ]ZMOSKgOSZMQPKTNJJQKLQ-VQLK[KJ_QNPTKMNZ^WQ-RNLQVJ[Q-VJaZMYWQYZMRKLQXKLYWaJ[OSZM_Q[\ZMQbSWQ`K[KbQC\LWQ[KVWOSZMKLQRKL[KJ[_QTNJ-QY\_ NOYQbhYYKQKLQYSZMQNJQ[SKQ2NVW+\OTKQ[KYQIJWKL^\Yb\QKLYWQTKR3MJKJdQ.IZMQMNPKQONJTKQJNZMQ[SLQTKYVZMW_QfWONJ_QVJ[QNVZMQJNZMQ[SL_Q4;NLS_Q[SKQ[VQ[KLQ,NONYSY 1NLYQKJWYWNbbYWdQ7VKLQUSgWLNVKJQbSLQTKTKJhPKLQSYWQVJTKLKZMW+KLWSTWd/
.CKLQPSYWQ[VX/
.eKSJQ-RKSWKYQIZMQJNJJWKQbKSJKJQ?NbKJ_Q[KJQVJYKLQTKbKSJYNbKLQ0LKVJ[QbSLQTNPd/Q.CKLQYZMSZ^WQ[SZMX/
.C3PPK^SJT>?NLb1\Jd/
ZPKLLNYZMWQ-\TQfWONJQ[SKQ1LNVKJQM\ZMdQ7SJQJNZM[KJ^OSZMKLQ8VTQVbYcSKOWKQYKSJKQUVJ[RSJ^KOdQ0LNTKJ[QPOSZ^WKQKLQ4;NLSQNJ_QNPKLQ[SKQ0LNVQ-VZ^WKQJVLQbSWQ[KJ
]ZMVOWKLJdQ7JWRK[KLQ^\JJWKQYSKQV\LWKLYQ,K[NJ^KJQJNZMQRSKQX\LQJSZMWQ^ONLQKL+NYYKJ_Q\[KLQKYQTNPQKWRNY_QRNYQYSKQJSZMWQ-VQ[KVWKJQXKLb\ZMWKd
.C3PPK^SJTQMNWQJSKQX\JQ[SLQTKYcL\ZMKJd/Q.CKYMNOPQY\OOWKQKL/_QKLRS[KLWKQV\LWKLQNVYRKSZMKJ[dQ.IZMQXKL[NJ^KQSMbQXSKOdQ:MJKQSMJQRaLKQSZMQOaJTYWQSJQ`KJKb
5NVbQ\MJKQ]WKLJKQTK+NJTKJd/
eNYQ,KYZM3c+QXKL+\LbWKQYSZMQKLJKVWdQ?VLQYKSJKQVJ+KLWSTQRSL^KJ[KJQ,KYSZMWY-hTKQPOSKPKJQKLMNOWKJd
*NVbQbKL^OSZMQYZMhWWKOWKQ4;NLSQ[KJQ*\c+dQIMLQ1OSZ^QPK[KVWKWKQ[KbQfL^\JS[KJ_QX\LYSZMWSTQ-VQYKSJd
.CSKQPSYWQ[VQSJQ[SKQ]:2QTKONJTWX/Q.C3PPK^SJT>?NLb1\JQTNPQbSLQ[SKQ*LN+WQ[N-Vd/
.CNLVbQ^\bbWQKLQJSZMWQYKOPYWX/QfWONJQ^NJJWKQ[SKQfJWR\LWQNV+Q[SKYKQ0LNTKQSbQX\LNVY_QJVLQR\OOWKQKLQYSKQX\JQV\LWKLQM3LKJdQeNYQCKYKJQPSO[KWKQ-RKSQ4KJWN^KO
NVYQVJ[Q+VZMWKOWKQ[NbSWQSJQ[KLQ2V+WQMKLVbdQ.C3PPK^SJTQSYWQJSZMWQPKLKSW_QSJQ1NLY>=>1NLYQ-VQKLYZMKSJKJdQeNYQSYWQKSJKY_QRNYQKLQ[SLQ[VLZMQbSZMQYNTKJQOagWd/
.IZMQ^NJJQJSZMWQKL^KJJKJ_Q\PQV\LWKLQOhTW/_QOSKgQ4;NLSQKJ[OSZMQXKLJKMbKJdQ.^K[KJ+NOOYQ[KJ^WQKLQYWaJ[STQKWRNYQNJ[KLKY_QNOYQKLQYNTWdQ7YQYZMKSJW_QNOYQRhL[K
KSJKQbKJWNOKQ]cKLLKQYKSJQ,K[aZMWJSYQ-VbSJ[KYWQWKSORKSYKQPO\Z^SKLKJdQ]KSJKQ,K[NJ^KJQ^LKSYKJQJVLQVbQYKSJKQ@KSbNW_Q\MJKQ[NgQSZMQRSL^OSZMQKL+NMLK_QRNY
[NbSWQTKbKSJWQSYWd/
.eVQMNYWQTKM3LW_QRNYQ4;NLSQYNTW/_QRNJ[WKQfWONJQYSZMQRSK[KLQ[KbQbKL^RhL[STKJQ,KYZM3c+Q-VdQ.eVQPLNVZMYWQYZM\JQKSJKQcONVYSPOKQ7L^OaLVJT_QRKJJQRSLQ[SL
XKLWLNVKJQY\OOKJd/Q7LQMSKOWQ`KW-WQYKSJKJQ]WLNMOKLQSJQ[KLQ5KZMWKJdQ.C3PPK^SJT>?NLb1\JQMNWQX\LNVYTKYKMKJ_Q[NgQ[VQbSLQbSgWLNVKJQRhL[KYWdQ7LQTNPQbSLQ[KJ 5NW_Q [SZMQ NJQ UNL^NJWQ OKJ^WKd AKLWLNVKJ_QfWONJ_QSYWQbNJZMbNOQbKMLQRKLWQNOYQ`K[KLQJ\ZMQY\QPKLKZMWSTWQKLYZMKSJKJ[KQ8RKS+KOd/ C\bSWQKLQTNLQJSZMWQVJLKZMWQMNW_QYWSbbWKQ[KLQ7YWLNYSJJQ-VdQ7YQOSKgKJQYSZMQXSKOKQ1KSYcSKOKQ[N+hLQNJ+hMLKJd .eKSJKQ CN++KQ YZMhZMWKLWQ V\LWKLQ JSZMWQ KSJ/_Q YNTWKQ 4;NLSQ SJQ [KbQ U\bKJWdQ .7LQ SYWQ KSJYNbQ VJ[Q YKMJWQ YSZMQ JNZMQ KSJKbQ 2KPKJ_Q RSKQ KYQ +LhMKLQ RNL_Q PKX\L f5?NLb1\JQMNWQNOOKJQ]\ONJKLJQX\JQ[KbQTNON^WSYZMKJQ7c\Y PKLSZMWKW_QX\JQ1NLYQVJ[Q0NL;JW_Q[SKQMKVWKQ1NLY>=>1NLYQYSJ[/_QYNTWKQV\LWKLdQ.7LQMNWQbSZMQTKYNJ[W_QVbQKVZMQKSJKQNJ[KLKQ,KYZMSZMWKQ-VQKL-aMOKJQ6Q[SKQX\J ]NJJ;_Q*S^QVJ[QfYTNL[dQIZMQRKSg_QfWONJ_Q[NgQ[VQNJQSMLKbQ]ZMSZ^YNOQSJWKLKYYSKLWQPSYW_Q[NLVbQM3LKQbSLQ-Vd/
23 TUVW XYZ[Z\] ^_`] aZ\bcZcZd] e] f_\g] _[[Z\] h_ijd] kdlZa`ZYf[Ybcm] hjbc] dYbcg\] \j] \Ydd[j\] ^YZ] h_\] XZ`aZcZd] a_dnZ`] Xo[pZ`m] hYZ] ij`] ^ZdYaZd] pj\qY\bcZd VkaZdl[YbpZd]djbc]Yd]hZ`]r[sgZ]Yc`Z`]tdg^Ybp[kda]\g_dhZdu v_`kqw Tx_`]\bc`YZ]\ZYdZ]yZh_dpZd]cYd_k\u]zdhZ\m]h_]^_`]dYZq_dhm]hZ`]\YZ]co`Zd]pjddgZm]hZ`]ij`]_[[Zq]iZ`\g_dhm]^_\]Z\]fs`]hYZ\Z]kdlZa`ZYf[YbcZ]zdgZ[[YaZdn lZhZkgZgZm]aZf_daZd]nk]\ZYdu {`Znn_`]c_ggZ]\Ybc]nk`sbpaZnjaZdm]_lZ`]\ZYdZ]Vd^Z\ZdcZYg]^_`]d_bc]^YZ]ij`]\|s`l_`u]}Z`]zd\gYdpg]ijd]~_`xdg]|[_dgZ]Zg^_\m]h_\]Tx_`]dYbcg]^Y\\Zd]hk`fgZu }_lZY] ^_`] lZYhZ`] öbcYbp\_[] kdg`Zddl_`] qYgZYd_dhZ`] iZ`lkdhZdm] _kbc] ^Zdd] {`Znn_`] h_\] jfg] aZdka] nk] iZ`aZ\\Zd] \bcYZdu] t`] ^_`] kdlZ`ZbcZdl_`] kdh [_kdY\bcu Tx_`] iZ`qY1gZ] hYZ] ~`ZYcZYgm] hYZ] öjddZdm] {[_dZgZd] kdh] 2jdhZm] hYZ] fs`] Ycd] 3o`|Z`] kdh] t`fs[[kda] nka[ZYbc] aZ^Z\Zd] ^_`Zdu] }YZ] 4dZdh[YbcpZYg] c_ggZ] Ycd lZa[ZYgZgm]\ZYg]qYg]hZq]5Ybcg]hZ`]Z`\gZd]_k\]}kdpZ[cZYg]aZlj`ZdZd]öjddZ]ijd]r_`\]ZYd]^YdnYaZ`]TZY[]ijd]Ycq]\Ybc]\ZYdZ`]tÜY\gZdn]lZ^k1g]aZ^j`hZd]^_`u t`]c_ggZ]nk]\|Ýg]`Z_aYZ`gm]h_q_[\m]_[\]hYZ]y_[_ÜY\]3Þßàá]lZajddZd]c_ggZm]\Ybc]r_`\]nk]dÝcZ`dm]kdh]Z`]c_ggZ]fs`]\ZYd]âoaZ`d]qYg]hZ`]ãk_[ij[[Zd]tdaZ]ZYdZ\ |[_dZg_`Zd]yZfÝdadY\\Z\]lZn_c[gu]}_\]Xj[p]hZ`]X[_c`Z\Z`]aYda]kdgZ`]lZY]hZq]iZ`n^ZYfZ[gZd]XZ`\kbcm]h_\][Zgng[Ybc]hjbc]4diZ`qZYh[YbcZ]_lnk^ZdhZdu]VlZ` ^_`]dYbcg]hZ`]Tjh]adÝhYaZ`]_[\]h_\]Ycq]nkaZh_bcgZ]öbcYbp\_[w]Tx_`]_cdgZm]kdh]hYZ\Z]Vcdkda]aZ^_dd]nkdZcqZdh]_d]WZ_[YgÝgm]h_1]Yd]dYbcg]qZc`]fZ`dZ` âkpkdfg]\ZYd]yZY\g]\Ybc]iZ`^Y``Zd]kdh]h_qYg]l[Ydh]^Z`hZd]^s`hZ]fs`]hYZ]öbcodcZYgZd]hZ`]öbco|fkdau]zd]ZYdZ`][ZgngZdm]iZ`n^ZYfZ[gZd]3`_fg_d\g`Zdakda]c_ggZ Z`]ZYd]vZ\Zd]Z`nZkagm]ijd]hZq]Z`]\Ybc]äY[fZ]iZ`\|`_bcå]Tx_`Yu }YZ]zdgZ[[YaZdn]ijd]r_`\]\bc`YZ]Yc`Z]~k`bcg]cYd_k\u]Xj`]dYbcg]_[[nk][_daZ`]âZYg]cÝggZ]\YZ]\j]öjddZd]Yd]æji_Z]iZ`^_dhZ[d]poddZdu]ÞZgng]^_`]\YZ]\bc^_bcu æYZq_dh]co`gZ]\YZ]e]dYZq_dh]_k1Z`]{`Znn_`m]kdh]hZ`]iZ`\g_dh]dYbcgm]^_\]^Y`p[Ybc]aZ\bc_cu]}_lZY]^Ý`Zd]\YZ]aZqZYd\_q]iYZ[[ZYbcg]\g_`p]aZdka]aZ^Z\Zdm hZq]yZadZ`]nk]^YhZ`\gZcZdu }jbc]h_\]^_`][Ýda\g]XZ`a_daZdcZYg]uuu ç öZ[l\g] Yd] hZ`] âZdg`kq\`ZaYjd] ijd] r_`\ßèßr_`\] \g_dhZd] hYZ] öjddZd] dYbcg] \j] hYbcg] ^YZ] Yq] 3Z`d] q_dbc] _dhZ`Z`] y_[_ÜY\u] }_\] ^_`] ZYdZ`] hZ`] y`sdhZm ^Z\c_[l] r_`\] kdh] ~_`xdg] nk\_qqZdaZfsc`g] ^j`hZd] ^_`Zdu] Vkbc] c_ggZ] hYZ] {j|k[_gYjd] slZ``_\bcZdh] ^ZdYa] _[gZ] ögZ`dZ] _kfnk^ZY\Zdm] hZ`Zd cx|Z`ZdZ`aZgY\bcZ] ög`_c[kda\|ZaZ[] lZ\jdhZ`Zd] ögo`f_pgj`Zd] kdgZ`^j`fZd] aZ^Z\Zd] ^Ý`Zdu]VdaZ`Zag] hk`bc] hYZ] rZjl_bcgkdaZd] Yq] {`Znn_`ß2xhjdYkq c_ggZ]ö_ddx]YqqZ`]dZkZ]|_`_q_gcZq_gY\bcZ]rZ`ZbcdkdaZd]Z`\gZ[[g]kdh]^YZhZ`]iZ`^j`fZdm]^_`]_lZ`]qYg]hZ`]Yc`]ZYaZdZd]4dZ`qsh[YbcpZYg]nk]hZq]öbc[k1 aZ[_dagm] h_1] Z\] dYbcg] dk`] qoa[Ybc] ^_`m] ijd] lZ\gYqqgZd] é`gZd] hZ`] }j||Z[a_[_ÜY\] _k\] tYdl[Ybp] Yd] hYZ] æ_qZd[j\Z] âjdZ] nk] dZcqZdm] \jdhZ`d] h_1] Z\ êlZ`aÝdaZ]a_lm]hYZ]ZYd]äYdslZ`^Zbc\Z[d]ijd]ZYdZq]W_kq]Yd]hZd]_dhZ`Zd]Z`qoa[YbcgZdu]ö_ddx]Z``ZbcdZgZ]^ZYgZ`m]h_1]aZd_k]hYZ\]hZ`]Vd[_1]fs`]äYhhZdß ëm]hZ`]\Ybc]h_q_[\]djbc]VWìäzTt3T]jhZ`]V552VìäT]d_ddgZm]aZ^Z\Zd]^_`m]r_`\]kdh]~_`xdg]YdZYd_dhZ`]nk]iZ`_dpZ`du]}YZ]ZdZ`aZgY\bcZd]XZ`cÝ[gdY\\Z lZYhZ`]y_[_ÜYZd]^_`Zd]aZ`_hZnk]YhZ_[í]hYZ]vZbc\Z[^Y`pkdaZd]n^Y\bcZd]hZd]ZYdnZ[dZd]öjddZd]kdh]ij`aZ[_aZ`gZd]3kaZ[\gZ`dc_kfZd]qk1gZd]ZYdZ]XYZ[n_c[ cx|jgcZgY\bcZ`]Vkf`Y1f`jdgZd]Z`nZkag]c_lZdu]zdfj[aZ]hZ`]lZYlZc_[gZdZd]tYaZd`jg_gYjd]hZ`]ögZ`d\x\gZqZ]qjbcgZ]\Ybc]îZhjbc]q_dbcZ`]êlZ`a_da]_[\]Yd\g_lY[ jhZ`]nZYg[Ybc]lZa`Zdng]Z`^ZY\Zdu]V[[ZYd]h_`_k\]`Z\k[gYZ`gZ]hYZ]t`fj`hZ`dY\m]_kf]gZbcdY\bcZ`]r_\Y\]fs`]ZYdZ]ög_lY[Y\YZ`kda]nk]\j`aZdu ï}k]^Y[[\g]d_bc]ZYdZq]\j[bcZd]e]Ýc]e]êlZ`a_da]\kbcZdm]dYbcg]^_c`ðm]lZqZ`pgZ]3Ypm]`YbcgZgZ]\Ybc]_kf]n^ZY]\ZYdZ`]fsdf]rZYdZ]_kf]kdh]fkbcgZ[gZ]qYg]hZd _dhZ`Zd]YdgZ`Z\\YZ`g]ij`]\ZYdZq]3o`|Z`]cZ`kqu ït\]^Ý`Z][jaY\bcm]hYZ\Z]é`gZ]_[\]æ_lZ[]nk]lZnZYbcdZdðm]dYbpgZ]ö_ddxu]ïzqqZ`cYd][YZag]hYZ]æ_qZd[j\Z]âjdZ]ZdgaZaZd]hZ`]3`sqqkda]kd\Z`Z`]W_kqßâZYgß ög`kpgk`]uuuð ïäo`]_kf]h_qYgðm]^Zc`gZ]hZ`]X[_c`Z\Z`]_lu]ïtc`[Ybc]aZ\_agm]iZ`\gZcZ]Ybc]dk`]hYZ]äÝ[fgZ]ijd]hZqm]^_\]hk]ijd]hY`]aYl\guð]t`]nja]hYZ]2j[__gYd]_d]\Ybc]kdh \g`Ybc]ij`\YbcgYa]slZ`]Yc`Zd]hYbcgZd][Ydha`sdZd]{Z[nu]vZdd]Z`]\Ybc]_kf`YbcgZgZm]pjddgZ]Z`]ö_ddx]qscZ[j\]kdgZ`]\ZYdZq]3o`|Z`]iZ`lZ`aZdu ï5_1]h_\ðm]\bcYq|fgZ]\YZu]ï}k]l`Yda\g]qYbc]io[[Ya]hk`bcZYd_dhZ`uð 3Yp]ij[[fsc`gZ]ZYdZ]cZfgYaZ]rZ^Zakdam]kdh]hYZ]\bc[_a_`gYa]ZYd\ZgnZdhZ]öbc^Z`Z[j\YapZYg][YZ1]Ycd]\Ybc]kdpjdg`j[[YZ`g]slZ`\bc[_aZdu]âkq]y[sbp]hk`bcq_1 hZ`]äjc[`_kq]Yd]V\a_`h\]zddZ`Zq]dk`]h`ZY]2ZgZ`m]\j]h_1]hZ`]X[_c`Z\Z`]`_\bc]^YZhZ`]ä_[g]f_dhu]3j|fslZ`]`YbcgZgZ]Z`]\ZYd]a`j1Z\]VkaZd|__`]_kf]hYZ 2j[__gYdu]ïä_\g]hk]h_\]Zg^_]_kbc]lZ`ZbcdZgwð]ïæ_gs`[Ybcu]V\a_`h]^j[[gZ]hY`]dk`]nk]iZ`\gZcZd]aZlZdm]h_1]hk]qYbc]dYbcg]lZcYdhZ`d]\j[[\guð ï5_da\_q]^Y`\g]hk]qY`]kdcZYq[Ybcðm]aZ\g_dh]3Ypm]\gYZ1]\Ybc]\_dfg]_l]kdh]p_q]kdqYggZ[l_`]dZlZd]ö_ddx]_kfu]2Yg]n^ZY]\ZYdZ`]y[YZhq_1Zdm]hYZ]fs`]Ycd]V`qZ kdh]rZYdZ]nka[ZYbc]^_`Zdm]fkc`]Z`]\Ybc]hk`bc]hYZ]^Y``Zdm]`jgZd]ä__`Zm]hYZ]\ZYdZd]3j|f]f_\g]io[[Ya]lZhZbpgZdu ïä_lZd]^Y`]dkd]ZYdZd]æ_lZ[]aZfkdhZd]jhZ`]dYbcgwð]^j[[gZ]Z`]^Y\\Zdu ïzbc] hZdpZ] \bcjdðm] dYbpgZ] hYZ] {_`_q_gcZq_gYpZ`Ydu] ï}YZ\Z`] öZpgj`] d_cZ] hZ`] êlZ`[_||kda\njdZ] ijd] r_`\] kdh] ~_`xdg] ^ZY\g] qZc`Z`Z] ZdZ`aZgY\bcZ rZ\jdhZ`cZYgZd]_kfuð]ïöj[[Zd]^Y`]Vg[_d]ijd]kd\Z`Z`]tdghZbpkda]Ydfj`qYZ`Zdwð ïæYbcg]\j[_daZ]hYZ]Zdhas[gYaZ]yZ^Y1cZYg]fZc[gu]vY`]lZ\bc`ÝdpZd]kd\]jcdZcYd]dk`]_kf\]rZjl_bcgZduð ç }j||Z[\jddZdm]hYZ]ZYdZd]aZqZYd\_qZd]öbc^Z`|kdpg]kqp`ZY\gZdm]^_`Zd]n^_`]ZYdZ]_\g`j|cx\Yp_[Y\bcZ]öZ[gZdcZYgm]pZYdZ\f_[[\]_lZ`]\j]kdaZ^ocd[Ybcm]h_1 _[[ZYd]\bcjd]Yc`Z]tÜY\gZdn]hZd]aZ^_agZ\gZd]XZ`qkgkdaZd]Xj`\bckl]aZ[ZY\gZg]cÝggZu]}_1]ZYdZ]ijd]lZYhZd]ZYd]`jgZ`]WYZ\Z]^_`m]hYZ]_dhZ`Z]cYdaZaZd]ZYd io[[Ya]dj`q_[Z`]aZ[lZ`]ögZ`d]qYg]élZ`f[ÝbcZdgZq|Z`_gk`Zd]dk`]^ZdYa]slZ`]ñòòò]y`_hm]^_`]ZlZdf_[[\]p_kq]h_nk]_daZg_dm]XZ`h_bcg]nk]Z``ZaZdu]t`\g]_[\
ö_ddx] hZd] ZYdnYaZd] rZa[ZYgZ`] hYZ\Z`] lZYhZd] öjddZd] ZdghZbpgZm] ^k1gZ] \YZm] h_1] \YZ] Yc`] âYZ[] Z``ZYbcg] c_ggZu] }YZ\Z] vZ[gm] hZ`Zd] }k`bcqZ\\Z`] pd_|| n^ZYg_k\Zdh] 3Y[jqZgZ`] lZg`kam] ^_`] ZYaZdg[Ybc] p_kq] _[\] {[_dZg] nk] lZnZYbcdZdm] ZcZ`] _[\] 2jdhm] hZ`] Y`aZdh^_dd] ijd] hZd] kdaZ^ocd[YbcZd öbc^Z`p`_fgiZ`cÝ[gdY\\Zd]ZYdaZf_daZd]^j`hZd]^_`u]t`]kqp`ZY\gZ]hYZ]öjddZd]_kf]hZ`]r_cd]ZYdZ`][_daaZ\g`ZbpgZdm]Z[[Y|gY\bcZd]Vbcgm]hZ`Zd]öbcdYgg|kdpg YhZdgY\bc]^_`]qYg]hZq]aZqZYd\_qZd]öbc^Z`|kdpg]hZ\]öx\gZq\u ïÞZhZ]a`o1Z`Z]2_\\Zðm]\gZ[[gZ]ö_ddx]fZ\gm]ï^s`hZ]kdgZ`]hZ`]tYd^Y`pkda]hZ`]kdgZ`\bcYZh[YbcZd]3`ÝfgZ]nZ`l`ZbcZduð ï}k]qZYd\gm]h_1]Z\]\Ybc][jcdgm]hYZ\Z`]vZ[g]ZYdZd]rZ\kbc]_lnk\g_ggZdwð]f`_agZ]3Yp]noaZ`dhu]z`aZdh^YZ]p_q]Z`]\Ybc]slZ`f[s\\Ya]ij`u]vZhZ`]pjddgZ]Z` Z`pZddZdm]^_\]h`_k1Zd]Yq]vZ[g`_kq]aZ\bc_cm]djbc]^_`]Z`]Yd]hZ`]5_aZm]_d]ö_ddx\]rZ`ZbcdkdaZd]gZY[nkc_lZdu]ïö_aZ]V\a_`hm]h_1]Z`][_dhZd]\j[[uð ï4d\Z`]~`Zkdh]f[YZag]hZd]2jdh]lZ`ZYg\]_dðm]dYbpgZ]hYZ]2j[__gYdu ïvZdd]hZYdZ]rZ`ZbcdkdaZd]\gYqqZdm]Y\g]\ZYdZ]2_\\Z]nk]aZ`Ydam]kq]ZYdZ]Vgqj\|cÝ`Z]fZ\gnkc_[gZdðm]a_l]3Yp]nk]lZhZdpZdu]ïvY`]^Z`hZd]V\a_`h]dYbcg iZ`[_\\Zd]poddZduð]öYZ]qZ`pgZd]dYbcg\]h_ijdm]jl]Yc`]j`a_dY\bcZ\]W_kq\bcYff]lZ\bc[ZkdYagZ]jhZ`]_ll`Zq\gZu]}YZ]fsdf]2ZgZ`]hk`bcqZ\\ZdhZ]3kaZ[]^_` d_bc]hZq]vY[[Zd]ijd]VdgYßtö]kdh]\ZYdZq]f`scZ`Zd]äZ[fZ`]VdgYßäjqkdp]aZfj`qgm]hk`bc]h_\]tYd^Y`pZd]ijd]Vg[_d\]tÜg`_\Ydd]îZhjbc]qYg]ZYdZ`]|j\YgYiZd 2Zdg_[YgÝg]_k\aZ\g_ggZg]^j`hZdu]tYaZdg[Ybc]lZ\g_dh]V\a_`h]_k\]ZYdZ`]ZYdZd]2ZgZ`]hYbpZd]3kaZ[\bc_[Zm]hYZ]\ZYdZ]ä_kgm]\ZYdZ]é`a_dZm]hZ`]öYgn]\ZYdZ` zdgZ[[YaZdn]^_`u]zd]hZq]äjc[`_kq]Yd]\ZYdZq]zddZ`d]pjddgZ]Z`]lZ[YZlYaZ]Vgqj\|cÝ`Zd]Z`nZkaZd]kdh]_kbc]Z`c_[gZdu vZdYaZ`]_[\]ZYdZ]ögkdhZ]qjbcgZ]iZ`a_daZd]\ZYdm]_[\]\Ybc]kdiZ`qYggZ[g]hYZ]3kaZ[cs[[Z]offdZgZu]æjbc]ZcZ]ö_ddx]Vd\g_[gZd]g`_fm]V\a_`h]nk]iZ`[_\\Zdm]^_`]3Yp lZ`ZYg\]_kf]\ZYdZd]fsdf]rZYdZd]_d]Yc`]ij`lZYaZ\g_pgu ï}YZ]5kfg]Y\g]_gZql_`ðm]`YZf]Z`]ijd]h`_k1Zd]kdh]lZa_ddm]Yd]hZ`]^ZYbcZdm]l[_kZd]y`_\d_`lZ]cZ`kqnk^sc[Zdu]VkaZdl[YbpZ]\|ÝgZ`]cYZ[g]Z`]_l`k|g]YddZm]p`_gngZ \Ybc]\ZYdZ]ä__`Zu]ïWYbcgYau]V\a_`h]cÝggZ]kd\]^jc[]p_kq]hZd]vZa]f`ZYaZaZlZdm]^Zdd]hZq]dYbcg]\j]^Ý`Zuð]öYZ]^_`fZd]n^ZY]öbc_ggZd]e]ZYdZd][_daZdm ^ZYbcZdm]hZ`]_d]hZd]WÝdhZ`d]f_\g]qYg]hZ`]äZ[[YapZYg]hZ\]T_aZ\]iZ`\bcqj[nm]kdh]ZYdZd]^ZYg_k\]ps`nZ`Zdm]îZhjbc]\bc_`f]_laZa`ZdngZdu]}Z`]`jgZ]WYZ\Z]\gYZa \jZlZd]_[\]y[kgl_[[]slZ`]hZd]äj`Ynjdg]cZ`_kfu]}YZ]5Ybcgl`Zbckda]hZ`]Vgqj\|cÝ`Z]qjbcgZ]h_\]Yc`Z]h_nk]lZYg`_aZdm]h_1]Z`]d_cZnk]hYZ]c_[lZ]äZqY\|cÝ`Z _k\fs[[gZu] }YZ] aZ[lZ] öjddZ] \g_dh] kq] pd_||] áóò] y`_h] ZdgaZaZdaZ\Zgng] kdh] dZYagZ] \Ybc] hZq]VlZdh] nku] zd] Yc`Zq] vYhZ`\bcZYd] Z`\g`_c[gZ] ZYd] fZ`dZ` yZlY`a\nkam]_[\]lZ\gsdhZ]Z`]_k\]`ZYdZq]y[_\u]}_\]y[ZY1Zd]kdh]~kdpZ[d]ijd]hj`g]\bcqZ`ngZ]Yd]hZd]VkaZdu ï2j`aZd] kq] hYZ\Z] âZYg] ^Z`hZd] hYZ] öjddZd] ZYd_dhZ`] aZd_k] aZaZdslZ`\gZcZdðm] \_agZ] ö_ddxu] ï}_dd] g`Ygg] hZ`] {[_dZg] Yd] hZd] öbcdYgg|kdpg] Yc`Z` VdnYZckda\p`ÝfgZ]ZYduð ïvY`]dZddZd]Ycd]â^YZ[Ybcgm]dYbcg]^_c`ðm]\bc[ka]3Yp]ij`u ö_ddx]c_ggZ]dYbcg\]h_aZaZd]ZYdnk^ZdhZdm]kdh]V\a_`h]\Yad_[Y\YZ`gZ]\ZYd]tYdiZ`\gÝdhdY\]hk`bc]ZYdZd]`_\bcZd]~_`l^Zbc\Z[]\ZYdZ`]élZ`f[ÝbcZu ï}YZ\Z]vZ[g]Y\g]Zg^_\]rZ\jdhZ`Z\ðm]lZc_k|gZgZ]hYZ]2j[__gYdu]ïzbc]p_dd]Z\]dkd]hZkg[YbcZ`]lZ`ZbcdZd]_[\]nkij`u]öYZ]lY`ag]ZYd]yZcZYqdY\m]h_\]fs`]kd\]ijd zdgZ`Z\\Z]Y\guð]V\a_`h]c_ggZ]_[\]5_dhZ|[_gn]ZYdZ]dYbcg]\jdhZ`[Ybc]_k\aZhZcdgZ]äjbcZlZdZ]aZ^Ýc[gm]hZ`Zd]XZaZg_gYjd]slZ`^YZaZdh]_k\]dYZh`YaZq]y`_\ lZ\g_dhu]t`\g]nk]hZd]\gZY[]_lf_[[ZdhZd]WÝdhZ`d]cYd]^kbc\Zd]l[scZdhZ]ög`ÝkbcZ`]kdh]iZ`ZYdnZ[g]\ja_`]pZaZ[fo`qYaZ]rÝkqZm]hZ`Zd]5_kl]\bcjd]kdqYggZ[l_` slZ`] hZq] rjhZd] slZ`_k\] hYbcg] ^_`u] ÞZ] cocZ`] hYZ] `jgZ] öjddZ] \gYZam] hZ\gj] hZkg[YbcZ`] iZ`ÝdhZ`gZd] \Ybc] hYZ] ~_`lZd] lY\] cYd] nk] ZYdZq] p`ÝfgYaZd] r[_ku rZ\g_dhgZY[Z]ijd]thZ[a_\Zd]Yd]hZ`]Vgqj\|cÝ`Z]qjbcgZd]fs`]hZd]tffZpg]iZ`_dg^j`g[Ybc]\ZYdu]ö_ddx]\gZ[[gZ]fZ\gm]h_1]hYZ]öbc^Z`p`_fg]fs`]hYZ\Z]p[ZYdZ]vZ[g iYZ[]nk]cjbc]^_`u]VlZ`]iYZ[[ZYbcg]lZ\g_dh]h_\]zddZ`Z]hZ\]{[_dZgZd]_k\]t[ZqZdgZd]ijd]kdaZ^ocd[Ybc]cjcZ`]}YbcgZu]}_qYg]^Ý`Z]h_\]Xj`c_dhZd\ZYd]hZ` Vgqj\|cÝ`Z]nk]Z`p[Ý`Zd]aZ^Z\Zdu r[kg`jg] \bc[ÝdaZ[gZ] \Ybc] h_\] r_dh] ZYdZ\] ~[k\\Z\] hk`bc] hYZ] gYZfZ`] aZ[ZaZdZ] 5_dh\bc_fgu] Vk\aZhZcdgZ] vÝ[hZ`] lZcZ``\bcgZd] h_\] rY[hm] _lZ`] _kbc \gZ||ZdÝcd[YbcZ]WZaYjdZd]kdh]h_n^Y\bcZd]iZ`ZYdnZ[g]p_c[Z]~[ZbpZdm]_d]hZdZd]d_bpgZ`]~Z[\]nkg_aZ]g`_gu]3ZYdZ]ö|k`]ijd]rZ\YZh[kda]jhZ`]hZq]vY`pZd YdgZ[[YaZdgZd]5ZlZd\u]4`^sbc\YapZYg]^_`]ij`cZ``\bcZdhu]3Yp]ZdghZbpgZ]hZd]hkdp[Zd]{kdpg]_q]äj`Ynjdgm]hZ`]\Ybc][_da\_q]nk]lZ^ZaZd]\bcYZdm]_[\]Z`\gZ`u Vkf]hYZ]tdgfZ`dkda]cYd]l[YZl]kdp[_`m]kq]^_\]Z\]\Ybc]c_dhZ[gZu ïzbc]c_ggZ]jcdZcYd]ij`m]â^YZ[Ybcg]dÝcZ`]nk]Z`fj`\bcZdðm]\_agZ]ö_ddxu]ïvZ\c_[l]\j[[gZd]^Y`]dYbcg]Yd]hYZ\Z`]WYbcgkda]_df_daZduð ç V\a_`h][YZ1]ZYdZ]5sbpZ]Yd]\ZYdZ`]äs[[Zm]\j]h_1]\ZYdZ]lZYhZd]{_\\_aYZ`Z]lZãkZq]Vk\\bc_k]c_[gZd]pjddgZdu]}Z`]{kdpg]_q]äj`Ynjdg]Zdg|k||gZ]\Ybc]\bcjd l_[h]_[\]äZ`hZ]qjd\g`o\Z`]TYZ`Zm]hYZ]\Ybc]hk`bc]hYZ]4fZ`_kZd]ZYdZ\]~[k\\Z\]^Ý[ngZdu]tg^_]fsdfnYa]tÜZq|[_`Z]^_`Zd]Z\m]hZ`Zd]a`j1f[ÝbcYaZ]{_dnZ`|[_ggZd ZYdZ]dYbcg]nk]slZ`co`ZdhZ]yZ`Ýk\bcpk[Y\\Z]Z`nZkagZdu]öYZ]^_`Zd]{f[_dnZdf`Z\\Z`u]2Yg]Yc`Zd]l`ZYgZd]öbcÝhZ[d]\bcYZd]Z\]YcdZd]ZYd][ZYbcgZ\m]\Z[l\g]\g_`pZ rÝkqZ]nk]Zdg^k`nZ[du]ïöYZ]fj[aZd]hZq]5_kf]hZ`]`jgZd]öjddZðm]\gZ[[gZ]ö_ddx]fZ\gu]ïVlZ`]\YZ]\Ydh]iYZ[]nk][_da\_qu]XZ`qkg[Ybc]iZ`f_[[Zd]\YZ]Yd]zd_pgYiYgÝgm \jl_[h]h_\]2kggZ`aZ\gY`d]^YZhZ`]cYdgZ`]hZq]äj`Ynjdg]iZ`\Ydpguð V\a_`h]aYda]gYZfZ`u]tYdZ\]hZ`]TYZ`Z]cjl]`kbp_`gYa]hZd]öbcÝhZ[]kdh]\|ÝcgZ]_k\]\ZYdZd]\Zbc\]a`j1Zdm]cZ`ij`ãkZ[[ZdhZd]VkaZd]nk]YcdZd]cZ`_kfm]^Ýc`Zdh hYZ]_dhZ`Zd]\Ybc]dYbcg]Yq]aZ`Yda\gZd]\go`Zd][YZ1Zdu T`ÝaZ]njaZd]\YZ]hk`bc]hYZ]\bc[_qqYaZ]4fZ``ZaYjdu]æk`]h_\]ZYdZ]TYZ`]\g_``gZ]V\a_`h]djbc]ZYdZ]vZY[Z]cYdgZ`cZ`m]lY\]Z\]\Ybc]\bcZYdl_`]kd^Y[[Ya]^YZhZ`]Yd rZ^Zakda]\ZgngZu]â^YZ[Ybcg]lZ\g_dh]_k\]ZYdZ`]kqf_\\ZdhZd]5_dhf[ÝbcZm]hYZ]cYd]kdh]^YZhZ`]ijd]_k\aZhZcdgZd]öZZd|[_ggZd]kdgZ`l`jbcZd]^k`hZu]t\]a_l pZYdZ]_k\aZ\|`jbcZdZd]XZaZg_gYjd\njdZdu]v_[haZlYZgZ]kdh]ögZ||Zd]^Zbc\Z[gZd]ZYd_dhZ`]Yd][jbpZ`Z`]~j[aZ]_lm]^j`_d]dYbcg]nk[Zgng]hYZ]a[ZYbcqÝ1YaZ tYd\g`_c[kda]lZYhZ`]öjddZd]öbck[h]c_ggZu]t\]^_`]^_`q]_kf]hYZ\Z`]vZ[gu]~ZkbcgYapZYg]cYda]slZ`]hZd]~[s\\Zd]kdh]öZZd]^YZ]ZYd]hsddZ`]æZlZ[u æ_bc] hZ`] h`YggZd] 4q`_dhkda] \g_dh] fs`] 3Yp] fZ\gm] h_1] pZYd] ögsgn|kdpg] `_kqf_c`ZdhZ`] W_\\Zd] _kf] â^YZ[Ybcg] ZÜY\gYZ`gZu] }YZ] vY[hdY\] ^_`] kdlZ`sc`gu] 2Yg Vk\d_cqZ]hZ`]aZ|_dnZ`gZd]TYZ`Z]\bcYZd]Z\]_kbc]pZYdZ]a`o1Z`Zd]5ZlZ^Z\Zd]nk]aZlZdu ïzbc]^ZY1]dYbcgðm]\_agZ]ö_ddxu]ï}YZ\Z]vZ[g][YZag]\j]d_cZ]_d]hZ`]êlZ`[_||kda\njdZ]ijd]r_`\]kdh]~_`xdgm]h_1]nkqYdhZ\g]Yq]âkaZ]hZ`]pÝq|fZ`Y\bcZd Vk\ZYd_dhZ`\ZgnkdaZd] W_kq\bcYffZ] hZd] vZa] cYZ`cZ`] aZfkdhZd] c_lZd] qs\\Zdu] tYdZd] YhZ_[Z`Zd] Xj`|j\gZd] p_dd] Ybc] qY`] p_kq] ij`\gZ[[Zdm] nkq_[] Yq 4qp`ZY\]ijd]ZYdYaZd]5Ybcgî_c`Zd]pZYdZ]^ZYgZ`Zd]öjddZd\x\gZqZ]\gZcZduð]öYZ]l_g]V\a_`hm]_q]W_dh]ZYdZ`]hZ`]p_c[Zd]~Z[\f[ÝbcZd]nk][_dhZdm]hYZ]dk`]hk`bc ZYdZd] \bcq_[Zd] rk\bc\g`ZYfZd] ijq] kqaZlZdhZd] äjbc^_[h] aZg`Zddg] ^_`u] ï2_a] \ZYdm] h_1] VdgZ`fZ``_dgZ`] jhZ`] rZdZgZ`[jaZd] \Ybc] _k\] ~k`bcg] ij` tdghZbpkda]Yd\]{[_dZgZdYddZ`Z]lZaZlZd]c_lZdu]zc`Z]TZbcdYp]Y\g]^ZYg]aZdka]Zdg^YbpZ[guð
ï}_dd]qs1gZd]\YZ]kd\][Ýda\g]lZqZ`pg]c_lZd]kdh]_da`ZYfZdm]dYbcg]^_c`uð]4d\bc[s\\Ya]^ZhZ[gZ]3Yp]qYg]n^ZY]V`qZdu]ïÞZhZ`]^s`hZ]kd\]fs`]hYZ]yZadZ` c_[gZdm]hYZ]\ZYdZ]qY1[YbcZ]5_aZ]iZ`\bck[hZg]c_lZdu]4dh]^Zdd]\YZ]\bcjd]ijd]Vg[_d\]~`YZhZd\lZqsckdaZd]iZ`djqqZd]c_lZd]uuuð ïâ^YZ[Ybcg] c_fgZg] Zg^_\] rZ\jdhZ`Z\]_dðm]kdgZ`l`_bc]hYZ]2j[__gYdu]ïXYZ[[ZYbcg]gÝk\bcZ]Ybc]qYbcm]kdh]Z\]aYlg]g_g\Ýbc[Ybc]pZYdZ]ög_gYjd]cYZ`m] _lZ`]a_dn \YbcZ`]^Y`h]hYZ]qj`aYaZ]3jd\gZ[[_gYjd]n^Y\bcZd]lZYhZd]öjddZd]kdh]hZq]{[_dZgZd]nk]_k1Z`aZ^ocd[YbcZd]t`ZYadY\\Zd]fsc`Zduð æYbcg]ZYd]y`_\c_[q]`_agZ]n^Y\bcZd]hZd]~Z[\Zd]_kfu]3d_||]ckdhZ`g]2ZgZ`]hk`bcq_1]hYZ]p_c[Z]~[ÝbcZm]hZ`Zd]4q`Y\\Z]\j]kd`ZaZ[qÝ1Ya]^_`Zdm]h_1]\YZ]dk` nkfÝ[[Ya]Zdg\g_dhZd]\ZYd]pjddgZdu]}_\]yZ[ÝdhZ]\ZdpgZ]\Ybc]nk`]2YggZ]cYd]_lu âoaZ`dh]\g`ZbpgZ]3Yp]n^ZY]V`qZ]_k\m]kq]ZYdZd]ögZYd]_d]\Ybc]nk]dZcqZdm]hZd]Z`]h_dd]_l\bcÝgnZdh]ij`]\ZYdZd]VkaZd]h`ZcgZu]4diZ`qYggZ[g]l`_bc]hZ`]ögZYd _k\ZYd_dhZ`]kdh]a_l]ZYdZ]XYZ[n_c[]^YdnYaZ`]äjc[`ÝkqZ]f`ZYu]ïäZðm]q_bcgZ]3Yp]slZ``_\bcg]kdh]a`Yff]d_bc]ZYdZq]^ZYgZ`Zd]r`jbpZdm]hZ`]Ycq]ZlZdf_[[\]nk [ZYbcg]Z`\bcYZdu ö_ddx] \bcs`ngZ] hYZ] 5Y||Zdu] ïV[\] ^Ý`Z] ZYd] lZ\gYqqgZ\] 2YdZ`_[] cZ`_k\aZ[o\g] ^j`hZdðm] \_agZ] \YZu] ï2Ybc] YdgZ`Z\\YZ`gm] jl] hYZ] a`j1Zd] ~Z[\Zd] ZlZdf_[[\ l`sbcYa]\Ydhuð tcZ]3Yp]\YZ]nk`sbpc_[gZd]pjddgZm]c_\gZgZ]\YZ]ij`^Ý`g\u]zc`]tYfZ`m]Zdh[Ybc]Zg^_\]aZfkdhZd]nk]c_lZdm]^_`]Yc`Z]XZ`qkgkda]lZ\gÝgYaZd]pjddgZm][YZ1]\YZ]îZhZ Xj`\Ybcg]iZ`aZ\\Zdu]3Yp]h_bcgZ]h_]_dhZ`\u ïv_\]cÝ[g\g]hk]h_ijdwð]^_dhgZ]Z`]\Ybc]_d]V\a_`hu]ï2Y`]Y\g]â^YZ[Ybcg]kdcZYq[Ybcuð]Vkf]hZ`]Vk1Zdcs[[Z]hZ`]3kaZ[]Zdg\g_dh]h_\]VllY[h]hZ`]lZYhZd]öjddZdu }YZ]iYZ[f_bc]aZ^kdhZdZdm]nkq]TZY[]YdZYd_dhZ`]iZ`\bc[kdaZdZd]5YdYZd]\j[[gZd]^jc[]hYZ]ög`_c[kda\iZ`cÝ[gdY\\Z]h_`\gZ[[Zdu ï}k]qZYd\gm]hYZ]öjddZd]iZ`kd\YbcZ`d]qYbcwð V\a_`h]lZ\gÝgYagZ]h_\u ö_ddx]^_`]\gZcZdaZl[YZlZdm]c_ggZ]n^ZY]jhZ`]h`ZY]a`o1Z`Z]ögZYdZ]nZ`l`jbcZd]kdh]^_dhgZ]\Ybc]dkd]kqu]tYd]nkf`YZhZdZ\]5ÝbcZ[d]ck\bcgZ]slZ`]Yc`]yZ\Ybcgu ït\]Y\g]^YZ]Ybc]_daZdjqqZd]c_lZðm]`YZf]\YZu]ïtYd]Ýk1Z`Z`]tYdf[k1]c_g]hYZ]ögZYdZ]iZ`ÝdhZ`gu]XYZ[[ZYbcg]\Ydh]ij`]a_`]dYbcg]_[[nk][_daZ`]âZYg]W_kq\bcYffZ]cYZ` aZ[_dhZguð ïuuu]kdh]^YZhZ`]aZ\g_`gZgm]dYbcg]^_c`ðm]fsagZ]3Yp]cYdnku tYd][ZY\Z\]\bc_lZdhZ\]yZ`Ýk\bc]Z`p[_dau]3Yp]a[_klgZm]h_1]hZ`]rjhZd]kdgZ`]\ZYdZd]fsdf]rZYdZd]iYl`YZ`gZu }_\]yZ`Ýk\bc]iZ`ÝdhZ`gZ]\Ybc]nkq]_d\bc^Z[[ZdhZd]~_kbcZdm]qYg]hZq]pklYpqZgZ`^ZY\Z]ö_dh]kdh]yZ`o[[]Yd]hYZ]5kfg]aZ\bc[ZkhZ`g]^k`hZdu]ö_ddx]\g_dh dk`]^ZdYaZ]öbc`YggZ]ijd]hZ`]~jdgÝdZ]ZdgfZ`dgm]\YZ]\bc_ffgZ]Z\]dYbcgm]\Ybc]Yd]öYbcZ`cZYg]nk]l`YdaZdu]ÞÝc]l`_bc]kdgZ`]Yc`]h_\]t`h`ZYbc]ZYdu]öYZ]lZf_dh]\Ybc |[ogn[Ybc]Yq]jlZ`Zd]}`YggZ[]ZYdZ\]akg]n^_dnYa]2ZgZ`]gYZfZdm]\gZY[]_lf_[[ZdhZd]T`YbcgZ`\u]XZ`n^ZYfZ[g]iZ`\kbcgZ]\YZm]Yd]hYZ]äocZ]nk]aZ[_daZdm]`kg\bcgZ]_lZ`]dk` djbc]gYZfZ`]_lu 3Yp]co`gZ]\YZ]\bc`ZYZdm]jcdZ]h_1]Z`]Z`pZddZd]pjddgZm]^_\]aZ\bc_cu]ögj1^ZY\Z]^k`hZ]îZgng]ö_dh]Zq|j`aZ\bc[ZkhZ`gu ö_ddx]f_dh]dY`aZdh^j]fZ\gZd]ä_[gu]4d_kfc_[g\_q]a[Ygg]\YZ]Yd]hYZ]TYZfZm]^j]\Ybc]kdgZ`]ZYdZq]ä_kfZd]ijd]yZ`o[[]`kbp_`gYaZ]rZ^ZakdaZd]_lnZYbcdZgZdu]tYd ZbpYaZ`]öbcÝhZ[]^k`hZ]\Ybcgl_`m]n^ZY]p`ÝfgYaZ]3YZfZ`n_daZdm]îZhZ]akg]hj||Z[g]\j]a`j1]^YZ]hYZ]2j[__gYdm]nkbpgZd]cZ`_du tdg\Zgng]^_`f]\YZ]\Ybc]cZ`kqu]t\]aZ[_da]Yc`]g_g\Ýbc[Ybcm]nk]p[ZggZ`dm]_lZ`]\bcjd]^k`hZ]\YZ]ijd]hZq]TYZ`m]h_\]\ZYdZ]\YbcZ`]aZa[_klgZ]rZkgZ]ZdgpjqqZd]\_cm qYg]ögZYdZd]lZ^j`fZdu]zdqYggZd]ZYdZ`]\Ybc]`_\bc]_k\hZcdZdhZd]5_^YdZ]_k\]yZ`o[[m]ö_dh]kdh]t`hZ]`kg\bcgZ]\YZ]_lm]hZq]âZdg`kq]hZ\]T`YbcgZ`\]ZdgaZaZdu }YZ]~_[[Z]^_`]|Z`fZpgu]}YZ][jbpZ`Zd]l`sbcYaZd]ögZYdZ]iZ`cYdhZ`gZdm]h_1]hYZ]é|fZ`]f[jcZdu]æ_bc]_[[Zqm]^_\]ö_ddx]lY\[_da]aZ\ZcZd]c_ggZm]a_l]Z\]}kgnZdhZ hYZ\Z`]yZ\bco|fZ]_kf]â^YZ[Ybcgu]tÜY\gYZ`gZ]hZqd_bc]hjbc]ZYdZ]`ZYbcc_[gYaZ`Z]TYZ`^Z[g]_[\]_daZdjqqZdw Vkf] _[[Zd] iYZ`Zd] iZ`\kbcgZ] hYZ] 2j[__gYdm] äocZ] nk] aZ^YddZdm] l[Ydh[Yda\m] \gj[|Z`dhm] ij`] ~k`bcg] kdh] tdg\ZgnZd] c_[l] aZ[Ýcqgu] tYdZ] hZ`] â_daZd] g`_f] \YZ \bcqZ`nc_fg]_d]hZd]rZYdZdm]\YZ]slZ`\bc[ka]\Ybcm]|`_[[gZ]c_`g]_kf]kdh]`kg\bcgZ]Z`dZkg]_l^Ý`g\u]Vk\]^ZYg]_kfaZ`Y\\ZdZd]VkaZd]\g_``gZ]\YZ]h_\]TYZ`]_dm]h_\ dkd]_kf]\YZ]nkp_qm]kdfÝcYam]\Ybc]nk]lZ^ZaZdu]öbc[_a_`gYa]iZ`hkdpZ[gZ]\Ybc]hZ`]T`YbcgZ`u]tYd]öbc_ggZd]fYZ[]ijd]jlZd]cZ`_lu]ö_ddx]d_cq]Z\]dk`]kdlZ^k1g ^_c`u zd]hZq]2jqZdgm]Yd]hZq]h_\]TYZ`]d_bc]Yc`]\bcd_||gZm]fsc[gZ]\YZ]\Ybc]_daZcjlZdu]V\a_`h]c_ggZ]ZYdZd]hsddZd]TZdg_pZ[]kq]Yc`Zd]5ZYl]aZ^YbpZ[g]kdh]cYZ[g]\YZ fZ\g]kq\bc[kdaZdu]3Yp]^YdpgZ]Yc`]ijd]kdgZd]cZ`]_kfaZ`Zag]nkm]_[\]\YZ]h_dd]slZ`]Ycq]\bc^ZlgZm]kdh]V\a_`h]\ZgngZ]\YZ]\_dfg]Yq]y`_\]_lu ö_ddx]lZdogYagZ]ZYdZ]a_dnZ]vZY[Zm]kq]\Ybc]ijd]hZq]Z`[YggZdZd]öbcjbp]nk]Z`cj[Zdu]zqqZ`]^YZhZ`m]^Ýc`Zdh]\YZ]Yc`Zd]{Z[n]\ÝklZ`gZm]Z`g_||gZ]\YZ]\Ybc h_lZYm]h_1]\YZ]Ýda\g[Ybc]nk]hZq]T`YbcgZ`]cYdslZ`l[YbpgZu]zddZ`c_[l]^ZdYaZ`]2YdkgZd]Z`YddZ`gZ]p_kq]djbc]Zg^_\]_d]hYZ]hj`g][_kZ`dhZ]yZf_c`u }_\]^_`]pd_||m]a_l]V\a_`h]nk]iZ`\gZcZdu]â^YZ[Ybcg]Y\g]gsbpY\bcZ`m]_[\]^Y`]h_bcgZdu]ïv_\]dk`]lZ^ZY\gm]h_1]qZYdZ]rZ`ZbcdkdaZd]\gYqqZdðm]dYbpgZ]ö_ddxu ïvY`]^Z`hZd]ZlZd]ij`\YbcgYaZ`]\ZYd]qs\\Zduð æYbcg]^ZYg]ZdgfZ`dg]Z`\bcj[[]ZYd]hkq|fZ\m][_daaZnjaZdZ\]r`s[[Zdu ï}_\]\Ydh]hYZ]aZ|_dnZ`gZd]TYZ`Zm]hYZ]^Y`]aZ\ZcZd]c_lZdm]dYbcg]^_c`ðm]\_agZ]3Ypu]}YZ]2j[__gYd]^_`f]ZYdZd]f[sbcgYaZd]r[Ybp]nkq]~Y`q_qZdg]Zq|j`m]^j]h_\ `jgZ]yZ\gY`d]djbc]YqqZ`]Yq]f`scZd]Xj`qYgg_a]\g_dhu]tYd]T_a]_kf]â^YZ[Ybcg]^Ýc`gZ]qYdhZ\gZd\]iYZ`nYa]ögkdhZdu ïzbc]hZdpZm]\YZ]^_dhZ`d]qYg]hZ`]öjddZu]öYZ]hs`fgZd]dYbcg]Yd]kd\Z`Z]WYbcgkda]pjqqZduð]}_\]r`s[[Zd]^YZhZ`cj[gZ]\Ybcm]hYZ\q_[]_k\]a`o1Z`Z`]æÝcZ]kdh lZa[ZYgZg]ijq]ö|[YggZ`d]kdh]3`_bcZd]\gs`nZdhZ`]rÝkqZu]âkqYdhZ\g]ZYdZ\]hZ`]yZ\bco|fZ]l_cdgZ]\Ybc]kdlZY``l_`]\ZYdZd]vZau tYd] jc`ZdlZgÝklZdhZ`] 3d_[[] nZ``Y1] hYZ] Vgqj\|cÝ`Z] kdh] fZagZ] _[\] `j[[ZdhZ`] }jddZ`] slZ`] h_\] 5_dhu] zq] \Z[lZd] 2jqZdg] aZ^_c`gZ] ö_ddx] qZc`Z`Z }kd\g\g`ZYfZdm]hYZ]\bcZYdl_`]_k\]hZ`]öjddZ]aZpjqqZd]^_`Zd]kdh]_q]äj`Ynjdg]iZ`\bc^_dhZdu]}`ZY]\Y[lZ`d]a[YgnZ`dhZ]{kdpgZ]pZc`gZd]Yd]ZYdZ`]^ZYgZd
öbc[ZYfZ]nk`sbpu]ÞÝaZ`ô ïél]\YZ]kd\]\kbcZdwð ïzbc]a[_klZ]dYbcgu]Vkf]îZhZd]~_[[]hs`fZd]^Y`]p_kq]^_aZdm]îZgng]_kfnk\gZYaZdu]vY`]qs\\Zd]kd\]Yq]v_[h]iZ`lZ`aZduð }j`g]^_`Zd]\YZ]nkqYdhZ\g]ij`]hY`ZpgZ`]öYbcg]ijd]jlZd]cZ`]aZ\bcsgngu]ögY[[Z]cYZ[g]tYdnka]e]ZYdZ]lZp[ZqqZdhZm]kd^Y`p[YbcZ]ögY[[Zu]öZ[l\g]hYZ]yZ`Ýk\bcZ]hZ` {_dnZ`Zbc\Z] ^_`Zd] iZ`\gkqqgu] tdg^ZhZ`] cYZ[g] h_\] TYZ`] Z`\bc`jbpZd] YddZm] jhZ`] uuu] ö_ddx] \|s`gZ] hYZ] d_cZ] yZf_c`m] jl^jc[] \YZ] \YZ] dYbcg] Yd] ij[[Z` 3jd\ZãkZdn]nk]lZ`ZbcdZd]iZ`qjbcgZu]t\]^_`]dk`]ZYdZ]Vcdkdam]hYZ]îZhjbc]qYg]îZhZ`]iZ`\g`ZYbcZdhZd]öZpkdhZ]qZc`]nk`]yZ^Y1cZYg]^k`hZu]Vkbc]3Yp]nZYagZ \Ybc]kd`kcYam]_[\]\YZ]cYdgZ`ZYd_dhZ`]gYZfZ`]Yd]hZd]v_[h]ZYdh`_daZdu]V\a_`h]c_ggZ]ZYd]}kgnZdh]pk`nZ`]Vk\^sbc\Z]aZfj`qgm]_kf]hZdZd]Z`]\Ybc]ZlZd\j]`_\bc fj`glZ^ZaZd]pjddgZu VkaZdl[YbpZ]\|ÝgZ`]\g_``gZd]\YZ]Yd]hYZ]f[YqqZ`dhZd]2sdhkdaZd]_pgYiYZ`gZ`]ög`_c[Z`u]ïöj[_dZ`ðm]\gYZ1]3Yp]Z`[ZYbcgZ`g]cZ`ij`u]ïzc`]c_lg]qY`]ZYdZd]\bcodZd öbc`Zbp]ZYdaZî_agm]dYbcg]^_c`uð }YZ]2ÝddZ`]l[YZlZd]\gkqqu]öYZ]p_qZd]dÝcZ`m]jcdZ]h_1]Yd]Yc`Zd]2YZdZd]hYZ]aZ`Yda\gZ]WZakda]nk]Z`pZddZd]^_`u ïäZðm]q_bcgZ]3Ypu]ïö_ag]Vg[_dm]h_1]^Y`]Z\]\Ydhuð]t`]iZ`a_1]\ja_`]_kbc]\ZYd]5YZl[Yda\^j`g]ïdYbcg]^_c`ðu zq]\Z[lZd]2jqZdgm]Yd]hZq]Z`]fZ\g\gZ[[gZm]h_1]V\a_`h]iZ`\bc^kdhZd]^_`m]`Y\\Zd]hYZ]öj[_dZ`]Yc`Z]v_ffZd]cjbc]kdh]fZkZ`gZd]Yd]hYZ]r_kq^Y|fZ[u]~[sbcgYa a[_klgZ]3Yp]hYZ]4q`Y\\Z]hZ`]3kaZ[]nk]\ZcZdm]h_dd]iZ`\|Z``gZ]hYZ]`_\bc]kq]\Ybc]a`ZYfZdhZ]y[kg]îZa[YbcZ]öYbcgu]}_\]~_kbcZd]iZ`h`ÝdagZ`]5kfgm]aZfj[ag]ijd hZq]}jddZ`d]hZ`]T`YZl^Z`pZm]lZ^YZ\m]h_1]hYZ]ÞÝaZ`]^YZhZ`]cZ`_d]^_`Zdu ïv_\]\j[[]h_\wð]^_dhgZ]3Yp]\Ybc]_d]hYZ]2j[__gYdu]ïrZg`_bcgZd]hYZ]kd\]Zg^_]_[\]yZf_daZdZwð ït\]\YZcg][ZYhZ`]\j]_k\uð ïVlZ`]uuu]\YZ]\Ydh]hjbc]öj[_dZ`m]dYbcg]^_c`uð tYdYaZ]c_\gYa]cZ`ij`aZ\gj1ZdZ]vj`gZ]Yd]ZYdZ`]io[[Ya]f`Zqh_`gYaZd]ö|`_bcZ]slZ`nZkagZd]3Yp]h_ijdm]h_1]Z`]\Ybc]Y``gZu]él^jc[]hYZ\Z]vZ\Zd]^YZ]öj[_dZ` ^Y`pgZd]e]\YZ]^_`Zd]~`ZqhZu]4dh]h_1]\YZ]pZYdZ\^Za\]noaZ`gZdm]ijd]Yc`Zd]ög`_c[Z`d]yZl`_kbc]nk]q_bcZdm]c_ggZ]Z`]ZlZd]Z`[Zlgu]äjffZdg[Ybc]^_`]V\a_`h h_ijdaZpjqqZdu]}Z`]yZh_dpZ]_d]hYZ]~[kanZkaZ][YZ1]3Yp]nYggZ`du zcdZd]l[YZl]pZYdZ]_dhZ`Z]v_c[m]_[\]\Ybc]hZ`]êlZ`q_bcg]nk]fsaZdu]2_d]\|`_da]dYbcg]aZ`_hZ]\_dfg]qYg]YcdZd]kqu ïöYZ]l`YdaZd]kd\]Yd]Yc`Z]ög_gYjdm]dYbcg]^_c`wð ö_ddx]dYbpgZ]dk`u]zc`Z]rZ`ZbcdkdaZd]lZ^_c`cZYgZgZd]\Ybcm]^Zdd]_kbc]_kf]aÝdn[Ybc]_dhZ`Z]vZY\Zm]_[\]\YZ]Z\]\Ybc]Z`cjffg]c_ggZu]â^Y\bcZd]kqaZ\gs`ngZdm nZ`\|[YggZ`gZd]rÝkqZd]iZ`c_``gZ]`Zakda\[j\]ZYdZ]{_dnZ`Zbc\Zu]3Yp]nkbpgZ]lZY]Yc`Zq]Vdl[Ybp]nk\_qqZdm]c_ggZ]\Ybc]_lZ`]\jfj`g]^YZhZ`]kdgZ`]3jdg`j[[Zu ï}_\]^_`]nk]Z`^_`gZdðm]f[s\gZ`gZ]ö_ddx]dZlZd]Ycqu]ï}YZ]~`ZqhZd]c_lZd]ZYdZ]|Z`fZpgZ]V`g]aZfkdhZdm]â^YZ[Ybcg]kd_kffÝ[[Ya]nk]slZ`^_bcZduð öYZ]^k`hZd]Yd\]zddZ`Z]hZ\]TYZ``jljgZ`\]aZ\gj1Zdm]hZ`]\Ybc]\bc^_dpZdh]Yd]rZ^Zakda]\ZgngZu]tdZ`aZgY\bcZ]~Z\\Z[fZ[hZ`]cYdhZ`gZd]\YZ]ijd]ij`dcZ`ZYd]_d îZhZq]~[kbcgiZ`\kbcu]}YZ]{_`_q_gcZq_gYpZ`Yd]a[_klgZ]dYbcgm]h_1]_[[Z]{_dnZ`Zbc\Zd]aZg_`dgZ]2_\bcYdZd]^_`Zdu]öYZ]qk1gZ]h_`_d]hZdpZdm]h_1]dk`]ZYdZ\ hZ`]TYZ`Z]Yd]hZ`]äZ`hZ]YcdZd]d_bcaZ\bc_kg]c_ggZu]XYZ[[ZYbcg]^_`]Z\]\ja_`]aZ`_hZ]hYZ\Z\]aZ^Z\Zdm]Yd]hZq]q_d]\Ybc]dkd]lZf_dhu tYdZ]ögkdhZ]iZ`aYdam]jcdZ]h_1]Zg^_\]aZ\bc_cu ö_ddx]cÝggZ]iYZ[]h_fs`]aZaZlZdm]nk]^Y\\Zdm]^_\]\YZ]_q]âYZ[]Yc`Z`]kdf`ZY^Y[[YaZd]WZY\Z]Z`^_`gZgZu]VlZ`]Yc`]fZc[gZd]hYZ]Vd\_gn|kdpgZ]fs`]ZYdZ]rZ`Zbcdkdau
34 PQRSSTQ UVWXYZW[\Z\Z]ZX^_X`ZabZcdZ]eXdcZfXW[\gZbhXicZffZc[\jXgkffjZXZbXV_[\X]c[\jXlZbWjZ\Z]hXmVWXZWX`ZnZ_jZjZeXaZdV]aZ]X^_XWZc]eXok]]jZXZbXZbWjXZbpZWWZ]eXWZcjXZb WZc]ZXqbZc\ZcjXlZbfkbZ]X\VjjZhXRWXaV`XSZcjZ]eXnVXgrbZXZbXfcZ`ZbXjkjXaZgZWZ]eXVfWXn_psdXlkbXWc[\X\c]X^_XlZaZjcZbZ]hXUV]]XgcZnZbX`r_pjZXVffZWXc]Xc\pXWc[\ V_deXnV]]XgkffjZXZbXncZXqZWWZf]XWsbZ]aZ]eXncZXc\]X\cZfjZ]X_]nXQV[\ZX]Z\pZ]XV]XtZ]Z]eXncZXc\pXnVWXV]aZjV]X\VjjZ]hXT`ZbXZbXgVbX^_XW[\gV[\XnV^_hXu]nXZb g_bnZXW[\gr[\ZbeXtZXfr]aZbXWZc]ZXYZdV]aZ]W[\VdjXnV_ZbjZh RbXaV`XvwVbXncZXx[\_fnXV]XWZc]ZpXx[\c[oWVfeXgZcfXZbXtZpV]nZ]X`bV_[\jZeXnZpXZbXncZXx[\_fnX^_W[\cZ`Z]Xok]]jZeX_pX]c[\jXc]XxZf`WjlkbgLbdZ]X^_XlZbWc]oZ]h MV][\pVfX \VNjZX ZbX vwVbhX UcZX 2]jZffcaZ]^X lk]X 3VbWX ZbW[\cZ]X c\pX lkffokppZ]hX Uk[\X aV`X ZWX V_[\X MkpZ]jZeX c]X nZ]Z]X ZbX Zc]WV\eX nVNX aV]^Z R]jgc[of_]aWWj_dZ]XWcZXlk]Zc]V]nZbXjbZ]]jZ]eXc]XnZ]Z]XZbXWZc]Xx[\c[oWVfXWkaVbXvwVbXV]lZbjbV_jX\rjjZeX_pXVffZWX3ZfVWjZ]nZXlk]XWc[\XV`^_WjbZcdZ]XgcZXZc]Z VfjZX4V_jeXncZXdLbXnZ]XgV[\WZ]nZ]X56bsZbX^_XZ]aXaZgkbnZ]XcWjh Rc]ZXZcaZ]VbjcaZX3Z^cZ\_]aX`ZWjV]nX^gcW[\Z]Xc\]Z]eXZc]ZXTbjX4VNfcZ`ZhX7ZnZbXgkffjZXVffZc]XWZc]eXgkffjZXZ]nfc[\XgcZnZbXdbZcXWZc]eXV`ZbX`ZcnZXg_NjZ]eXnVN Zc]ZbXk\]ZXnZ]XV]nZbZ]XZ]naLfjcaXlZbfkbZ]XgVbh xcZXp_NjZ]XWc[\X^_WVppZ]j_]X_]nXok]]jZ]XZWXnk[\X]c[\jhXRc]ZX_]Wc[\j`VbZXMV[\jXWkbajZXnVdLbeXnVNXWcZXc\bZ]XV]dr]afc[\Z]X4VNX]cZXlZbaVNZ]h 8_]XdLb[\jZjZXPbZ^^VbX_pXWZc]ZXR9cWjZ]^hXRbXafV_`jZeXVffZ]XYb_]nXnVdLbX^_X\V`Z]eXnZ]]Xc\pXgVbX]c[\jXZ]jaV]aZ]eXnVNXvwVbX]V[\XfV]aZbXSZcjXlZbaZ`fc[\Zb 3ZpL\_]aZ]XZc]XmZWZ]XV_WXWc[\XV`aZWk]nZbjX\VjjZeXnZpXncZX4kdd]_]aZ]Xlk]X3VbWXaVfjZ]h vwVbcXfZ`jZX]_bXV_WXnZpXZc]Z]XYb_]neX_pXc\]eXPbZ^^VbX^_XlZb]c[\jZ]hXRbXn_bdjZX]c[\jXgVbjZ]eX`cWXc\pXoZc]ZXZcaZ]ZXR]jW[\Zcn_]aXpZ\bX`fcZ`hX2]Wjc]ojclXWsLbjZ ZbeXnVNXZbXaZ^g_]aZ]XgVbeXncZX2]jZffcaZ]^Xlk]X3VbWXpcjXc\bZ]XZcaZ]Z]XmVddZ]X^_XW[\fVaZ]h : S_ZbWjXgkffjZXPkboXZWX]c[\jXafV_`Z]eXnVNXWZc]ZXdbcW[\Z]XvbcZ`ZXWc[\XZc]bkffjZ]eXnk[\XVfWXnZbXx[\pZb^XWc[\Xn_b[\XncZX8ZblZ]`V\]Z]XdkbjsdfV]^jZeXobVffjZXZb ncZXm_b^Zf]Xc]XnVWXfk[oZbZXRbnbZc[\hX5VpXnZbXjbk[oZ]ZXmc]nX^_X^ZcjcaXc]XncZWZbXmV[\Wj_pWsZbcknZ;XiZbaZ`fc[\XW_[\jZXZbX]V[\XmVWWZbeXnVWXZ`Z]X]k[\ WZc]ZXm_b^Zf]X_pWsLfjX\VjjZhXRWXgVbXlZbWc[oZbjh RbXZbc]]ZbjZXWc[\XnVbV]eXnVNXncZXeX\VjjZ]XncZX