!"#$%&#'()"(*+',"-#(-'(."/0(1#2%)3()"(4#'/&5&)')"(
!'%53(!3+/&-63()"(7'23#( 8-'(!'%5'(893-#3(
!"#$%&$'"(&)*+"*,(-)%'.&/0$1*2$034+$+"*+"*5/6(0/$71*8(/9"%7/+$+"*+"*:/7;)$*
5$'#)*<%$(+"1*=>?@AB=C1*:/7;)$*
!!"#$%&'"()*+%,-./%.01.2).!34*!*(/%.01.2).!3*
D3'.%/)(
:#(%2&5&;')3<"#()"(#"+'#()"(="#$%&#'()"(&+',"-#(-'(."/(">=<"##'+('#(#%'#(-"?"##&)')"#('2<'@A#()"(&-2"<B(
<3,'CD"#($%"()"#?<"@"+('#(&+',"-#(=<"2"-)&)'#E(8('-F5&#"()"2'56')'()"#2'#(&-2"<<3,'CD"#("('(3/#"<@'CG3()3(
?3+=3<2'+"-23()3#(%2&5&;')3<"#(-'(%2&5&;'CG3()"#2"#(#"+'#(#G3('#="?23#(9%-)'+"-2'&#(-G3(#H(='<'('(?3+B(
=<""-#G3( )'#( -"?"##&)')"#( )3#( %2&5&;')3<"#I( +'#( 2'+/A+( ='<'( 9'?&5&2'<( 3()"#&,-()"(#"+'#()"(="#$%&#'()"(
&+',"-#E(8(+'&3<&'()3#("#2%)3#(2"+('/3<)')3('="-'#('('-F5&#"()"(="#$%&#'#(,"-A<&?'#(-'(."/(#"-)3("#?'##3#(
'$%"5"#($%"(3/#"<@'+(3(?3+=3<2'+"-23()3#(%2&5&;')3<"#(-'(="#$%&#'()"(&-93<+'CG3(+%52&+A)&'(-'(."/E(1#2"(
'<2&,3()"#?<"@"(3("#2%)3($%"("-@35@"%('('-F5&#"()'#(&-2"<<3,'CD"#("('(3/#"<@'CG3()3#(%2&5&;')3<"#(-'(%2&5&;'B(
CG3()"(#"+'#()"(="#$%&#'()"(&+',"-#(-'(."/E(8('-F5&#"()3#(<"#%52')3#(<"@"53%($%"(3#(%2&5&;')3<"#(=<"9"<"+(
"9"?2%'<(="#$%&#'#(2">2%'&#("(%2&5&;'+(J(2"<+3#("+(+A)&'(=3<(="#$%&#'E(:(<"?%<#3('(3%2<3#(+A23)3#()"("#="?&B(
9&?'CG3()'(="#$%&#'(K=3<("#/3C3(3%(&+',"+(">"+=53L('="-'#(A(%2&5&;')3("+(?'#3()"(&-#%?"##3()3(+A23)3(2">B(
2%'5E(:(<"#%52')3()3("#2%)3(="<+&2&%('&-)'(">2<'&<('#(=<&-?&='&#(&+=5&?'CD"#(-3()"#&,-()"(&-2"<9'?"#(='<'(#&#B(
2"+'#()"(="#$%&#'()"(&+',"-#(-'(."/E(M3+(/'#"(-"#2"#(&-)&?')3<"#(93&(<"'5&;')3(%+(=<32H2&=3()'(&-2"<9'?"()"(
="#$%&#'()"(&+',"-#(-'(."/E(
E$4$9%$7A0F$9"(
!"#$%&#'()"(&+',"-#(-'(."/I(!"#$%&#'(2">2%'5("(@&#%'5()"(&+',"-#I(*-2"<9'?"#()"(="#$%&#'()"(&+',"-#I(8@'5&'B(
CG3()"(&-2"<9'?"#E(
=G* ,HIJK!8LMK(
8( +'##&9&?'CG3( )3('?"##3(N(."/(-'(#",%-)'(+"2')"()'(
)A?')'( )"( OP( "(3(?3-#"$%"-2"(?<"#?&+"-23(">=53#&@3()'(
&-93<+'CG3( 'Q( )&#=3-Q@"5I( "+( ='<2&?%5'<( )'( &-93<+'CG3(
+%52&+A)&'( K=3<( ">"+=530( &+',"-#( "( @Q)"3LI( ?353?3%(
-3@3#( )"#'9&3#( N( 93<+'( &)"'5( )"( <"?%="<'<( "##'(
&-93<+'CG3E( R"( '?3<)3( ?3+(%+("#2%)3(<"?"-2"I(">"+(
STP(+&56D"#()"(&+',"-#(-'(."/I('#($%'&#(="<9';"+(%+(
232'5( )"( ?"<?'( )"( U( 2"<'/V2"#( )"( )')3#( WX33)<%+PPYE(
!'<')3>'5+"-2"I( "#2"( ?<"#?&+"-23( )&9&?%52'(
9<"$%"-2"+"-2"(3(2<'/'563()3(%2&5&;')3<I(='<2&?%5'<+"-2"(
3( )3( 5"&,3( 3%( 3?'#&3-'5I( -'( ="#$%&#'( )'#( &+',"-#( +'&#(
<"5"@'-2"#( ='<'( '( #%'( -"?"##&)')"( )"( &-93<+'CG3(
WZ6"<9&P[YE(
8( +'&3<&'( )3#( #"+'#( $%"( 93?'<'+( '( ="#$%&#'( )"(
&-93<+'CG3( +%52&+A)&'( 9\B53( '2<'@A#( )"( &-2"<9'?"#( )"(
="#$%&#'( 2">2%'5E( M3-2%)3I( "#2"( 2&=3( )"( ="#$%&#'( 2"+(
'5,%+'#(5&+&2'CD"#I(%+'(@";($%"(-"+(#"+=<"(A(=3##Q@"5(
"#="?&9&?'<( %+'( -"?"##&)')"( )"( %+'( &+',"+( "+( +3)3(
2">2%'5(WX33)<%+PP](X"@"<#O^YE(!3<(">"+=53I(%+(%2&5&B(
;')3<($%"(=<"2"-)'(3/2"<(%+'(&+',"+()"(%+($%')<3()3(
$%'5(-G3(#'/"(-"+(3(2Q2%53I(-"+(3('%23<I(#"<F(+%&23()&9QB(
?&5( "-?3-2<FB53( '2<'@A#()"(%+'(="#$%&#'(?3+("#="?&9&?'B(
CG3(2">2%'5E(!"53(?3-2<F<&3I(%+'("#="?&9&?'CG3('2<'@A#()"(
%+( "#/3C3( =3)"<&'I( "@"-2%'5+"-2"I( ?3+( +'&3<( 9'?&5&)'B(
)"I(93<-"?"<(3#(<"#%52')3#(=<"2"-)&)3#(W_352O[YE(
8)&?&3-'5+"-2"I( A( =<3@F@"5( $%"( 3#( ="<&23#( -%+(
)"2"<+&-')3( )3+Q-&3( =<"2"-)'+( %+'( &-2"<9'?"( ,<F9&?'(
#39&?')'( ='<'( "#="?&9&?'<( '#( #%'#( &-2"<<3,'CD"#E( !"53(
?3-2<F<&3I( 3#( %2&5&;')3<"#( ?'#%'&#( "`3%( &-">="<&"-2"#(
=3)"+( =<"9"<&<( "#="?&9&?'<( '#( #%'#(&-2"<<3,'CD"#(%#'-)3(
'(5&-,%',"+(-'2%<'5E(a(+'&#(9F?&5(">=<"##'<(%+'(=<3?%<'(
"+( 5&-,%',"+( -'2%<'5I( ?3+3( =3<( ">"+=53I( b73#2<'B+"(
&+',"-#( )"( +3-2'-6'#( ?3/"<2'#( )"( -"@"cI( )3( $%"(
<"'5&;'<( %+( "#/3C3( )'( +3-2'-6'( ?3/"<2'( )"( 2">2%<'( )"(
-"@"( WX%)&@')'OdYE( 8#( 9%-?&3-'5&)')"#( $%"( 3#(
%2&5&;')3<"#( =<"2"-)"+( -%+( #"+'( )"( ="#$%&#'( )"(
&+',"-#(#G3(&-95%"-?&')'#(="5'#(#%'#(-"?"##&)')"#("(="53(
%#3('()'<(N#(&+',"-#(3/2&)'#E(42&5&;')3<"#()"()&9"<"-2"#(
="<9&#( =3)"+( -"?"##&2'<( )"( )&9"<"-2"#( "#2&53#( )"(
&-2"<'?CG3(WZ6"<9&P[YE(
7%&23#( '%23<"#( 2\+( "9"?2%')3( "#2%)3#( )"( %#'/&5&)')"( '(
%2&5&;')3<"#( )"( #"+'#( )"( ="#$%&#'( )"( &+',"-#( -G3(
"#="?&'5&;')3#( -%+( )"2"<+&-')3( )3+Q-&3I( $%"<( "+(
?35"?CD"#( -G3( )&,&2'&#( W_'#2&-,#Od](Z""<O[YI($%"<("+(
?35"?CD"#()&,&2'&#(We'f<"-?"OO](X%)&@')'Od](g%<-"<OdYE(
M3-2%)3I( =3%?3#( "#2%)3#( 93<'+( ?3-)%;&)3#( ?3+( 3(
3/h"?2&@3( )"( '-'5&#'<( 3#( %2&5&;')3<"#( )"( #"+'#( )"(
="#$%&#'( )"( &+',"-#( -'( ."/E( :#( '%23<"#( i+&26( "( e&(
'-'5&#'<'+( '#( ="#$%&#'#( "9"?2%')'#( -3( #"+'( )"(
="#$%&#'#( )"( &+',"-#( -'( ."/( ."/i""j( Wi+&26OTY( "(
?3-?5%Q<'+($%"(3#(%2&5&;')3<"#(%2&5&;'+("#="?&9&?'CD"#()"
'523( -Q@"5( #"+k-2&?3E( :%2<3( "#2%)3( <"5"@'-2"( Wi=&-jPPY(
">'+&-'( '#( &-2"<<3,'CD"#( "9"?2%')'#( ="53#( %2&5&;')3<"#(
-3( +323<( )"( /%#?'( 1>?&2"I( 9&52<'-)3( '="-'#( '#( $%"(
&-?5%Q'+(="#$%&#'#(+%52&+A)&'(K&+',"-#I(F%)&3(" @Q)"3LE(
1#2"( "#2%)3( ="<+&2&%( ?3-?5%&<( $%"( 3#( %2&5&;')3<"#(
="#$%&#'+( &-93<+'CG3( +%52&+A)&'( -'( ."/( )"( %+'(
93<+'( &)\-2&?'( $%'-)3( =<3?%<'+( &-93<+'CG3( 2">2%'5I(
'?<"#?"-2'-)3( '="-'#( %+( '2<&/%23( +%52&+A)&'( K=3<(
">"+=530( +%#&?I( +3@&"#I( h=",L( "( $%"( -"?"##&2'+( )"( U(
2"<+3#( "+( +A)&'( =3<( ="#$%&#'E( l'-#"-( "( 3%2<3#( '%23<"#(
Wl'-#"-PPY(@"<&9&?'<'+($%"(3#(%2&5&;')3<"#('3("9"?2%'<"+(
="#$%&#'#( 2">2%'&#( %2&5&;'+( 2&=&?'+"-2"( J( 2"<+3#( =3<(
="#$%&#'E( 1#2"( "#2%)3( ="<+&2&%( '&-)'( ?3-?5%&<( $%"0( 3(
&-2"<@'53( )"( 2"+=3( )"( %+'( #"##G3( 2Q=&?'( A( )"( SP( '( Sd(
+&-%23#]( #G3( 9"&2'#I( "+( +A)&'I( )%'#( ="#$%&#'#( =3<(
#"##G3]( 3#( %2&5&;')3<"#( -G3( %2&5&;'+( '#( 9%-?&3-'5&)')"#(
'@'-C')'#( )'( ="#$%&#'( "( $%"( '="-'#( @&#%'5&;'+( 3#( )";(
=<&+"&<3#(<"#%52')3#()"(?')'(="#$%&#'E(
8="#'<( )'( &-",F@"5( %2&5&)')"( )"#2"#( "#2%)3#I( -'( +")&)'(
"+($%"(93<-"?"+(&-93<+'CG3(#3/<"('#(?'<'?2"<Q#2&?'#()3#(
%2&5&;')3<"#( "( )'#( ="#$%&#'#( )"( &+',"-#( -'( ."/( A( 9%-B(
)'+"-2'5("9"?2%'<(%+'('-F5&#"(+'&#()"2'56')'()'#(?'<'?B(
2"<Q#2&?'#( )'#( &-2"<9'?"#( )"( &-2"<<3,'CG3( "( )"( '=<"#"-2'B(
CG3()"(<"#%52')3#I()"2"<+&-'<(3(='<')&,+'()"("#="?&9&?'B(
CG3( +'&#( ')"$%')3( ='<'( ?')'( 2&=3( )"( %2&5&;')3<( K=3<(
">"+=530( 2">2%'5(3%(@&#%'5L("('-'5&#'<(3(?3+=3<2'+"-23(
)3#(%2&5&;')3<"#(-'(%2&5&;'CG3()"#2"#(#"+'#E(1#2"("#2%B(
)3(A(&+=3<2'-2"(-G3(#H(='<'('(?3+=<""-#G3()'#(-"?"##&B(
)')"#( )3#( %2&5&;')3<"#I( +'#( 2'+/A+( ='<'( 9'?&5&2'<( 3(
)"#&,-()"(&-2"<9'?"#()"(#"+'#()"(<"?%="<'CG3()"(&+'B(
,"-#(WM63&PU](M%--&-,6'+P[YE(
1#2"('<2&,3('=<"#"-2'(%+("#2%)3()"(%#'/&5&)')"('3#(%2&5&B(
;')3<"#( )"( #"+'#( )"( ="#$%&#'( )"( &+',"-#( -'( ."/(
?3+3( 3( 3/h"?2&@3( )"( ?3+=<""-)"<( $%'5( 3( +A23)3( +'&#(
')"$%')3( ='<'( '( "#="?&9&?'CG3( )'#( #%'#( -"?"##&)')"#E(
!'<'(2'5I(#G3('-'5&#')3#('5,%-#('#="?23#I(2'&#(?3+30(="<B(
?"=CG3()3(+3)3(?3+3(3#(%2&5&;')3<"#(93<+%5'+('#(&-2"<B(
<3,'CD"#( "( 3( $%"( "#="<'+( )3( #"+']( &)"-2&9&?'CG3( )3#(
?'#3#( -3#( $%'&#( A( =<"9"<Q@"5( %+'( ="#$%&#'( /'#"')'( -3(
?3-2"m)3(3%(%+'(="#$%&#'(/'#"')'("+(2">23]('-F5&#"()'(
?3<<"5'CG3("-2<"(="<9&#()"(%2&5&;')3<"#("(2&=3()"("#="?&9&B(
?'CG3( )"( ="#$%&#']( &)"-2&9&?'CG3( )3( -m+"<3( )"( 2"<+3#(
=3<(="#$%&#'(2">2%'5("(<"#="?2&@'#(?'<'?2"<Q#2&?'#](&)"-2&B(
9&?'CG3()3(-m+"<3()"(&+',"-#(=3<(="#$%&#'(?'#3('("#="B(
?&9&?'CG3( #"h'(@&#%'5](,<'%()"(#'2	'CG3('?"<?'()'#(&+'B(
,"-#( <"23<-')'#( "( '-F5&#"( )'( &-2"<9'?"( )"( <"#%52')3#( )'(
="#$%&#'E(
:( '<2&,3( "#2F( 3<,'-&;')3( )'( #",%&-2"( 93<+'0( '( #"?CG3(J(
'=<"#"-2'( 3#( )&9"<"-2"#( ='<')&,+'#( )"( "#="?&9&?'CG3( )"(
="#$%&#'#()"(&+',"-#(-'(."/("(3#(#"+'#(+'&#(<"=<"B(
#"-2'2&@3#( ='<'( ?')'( '/3<)',"+]( '( #"?CG3( U( )"#?<"@"( 3(
=5'-3( )"( '@'5&'CG3( "9"?2%')3]( -'( #"?CG3( [( A( <"'5&;')'(
%+'( '-F5&#"( ?3+='<'2&@'( )3#( <"#%52')3#( 3/2&)3#( "( '#(
=<&-?&='&#( &+=5&?'CD"#( -3()"#&,-( )"( &-2"<9'?"#( ='<'( #&#B(
2"+'#( )"( ="#$%&#'( )"( &+',"-#( -'( ."/]( -'( #"?CG3( d( A(
'=<"#"-2')3( %+( =<32H2&=3( )"( %+'( &-2"<9'?"( )"( ="#$%&#'(
)"(&+',"-#(-'(."/("(=3<(m52&+3I('(#"?CG3(nI(<"#%+"('#(
=<&-?&='&#( ?3-2<&/%&CD"#( )3( 2<'/'563( "9"?2%')3( "( )&#?%2"(
3#('#="?23#()"(?3-2&-%&)')"()3(2"+'(2<'2')3E(
NG* EODP8,DQ*!O*,RQ<OHD*HQ*SOT(
1#2'( #"?CG3( '=<"#"-2'( 3#( )&@"<#3#( ='<')&,+'#( )"(
"#="?&9&?'CG3( )'#( ="#$%&#'#( )"( &+',"-#( -'( ."/I( ?3+( 3(
3/h"?2&@3()"("-$%')<'<(3("#2%)3()"(%#'/&5&)')"(<"'5&;')3(
K#"?CG3( ULE( 8)&?&3-'5+"-2"I( '=<"#"-2'+B#"( 3#( #"+'#(
+'&#(<"=<"#"-2'2&@3#I(='<'(?')'(='<')&,+'E(
8("#="?&9&?'CG3()"(="#$%&#'#()"(&+',"-#(-3(?3-2">23()'(
."/(=3)"(#"<("9"?2%')'('2<'@A#()"(2<\#(='<')&,+'#(=<&-B(
?&='&#I(#"+(?3-#&)"<'<('#(=3##Q@"&#(?3+/&-'CD"#0("#="?&B(
9&?'CG3(2">2%'5()'(="#$%&#']("#="?&9&?'CG3(@&#%'5()'(="#B(
$%&#'("(="#$%&#'(3%(-'@",'CG3 =3<()&<"?2H<&3()"(&+',"-#E(
o'(="#$%&#'(@&#%'5(=3)"+('&-)'()&-,%&<B#"('#(="#$%&B(
#'#( =3<( &+',"+( )"( ">"+=53I( =3<( Q?3-"( "(=3<("#/3C3E(8(
g'/"5'(S('=<"#"-2'(%+(<"#%+3()"(?')'(%+()"#2"#(='<'B(
)&,+'#('(-Q@"5()'("#="?&9&?'CG3()"(="#$%&#'#("()3#(<"#%5B(
2')3#('=<"#"-2')3#('3#(%2&5&;')3<"#E(
NG=* O7#"0/-/0$UV)*&"W&3$4*+$*#"7X3/7$(
1+( +%&23#( ?'#3#( )"#?<"@"<( %+'( &+',"+I( )"( %+( +3)3(
2">2%'5I(A(+%&23(+'&#(9F?&5()3($%"(=<3?%<'<(3%()"#"-6'<(
%+'(&+',"+()"(">"+=53E(8="#'<()'#(&+',"-#("('#(='5'B(
@<'#( 93<-"?"<"+( #&,-&9&?')3#( )&-23#I( 3#( %2&5&;')3<"#(
=<"9"<"+('#(='5'@<'#B?6'@"(='<'("9"?2%'<('(&-2"<<3,'CG3(
"( #H( )"=3&#I( )"( +3)3( @&#%'5I( ?3-9&<+'<( '( <"5"@k-?&'( )"(
?')'(<"#%52')3(3/2&)3(WR&-,OOYE(
:#( #"+'#( )"( ="#$%&#'( )"( &+',"-#( -'( ."/( <"?3<<"+(
2&=&?'+"-2"( '3( 2">23( ',<",')3( N( &+',"+( K=3<( ">"+=530(
?'=2&3-( )'( &+',"+I( 2">23( '52"<-'2&@3I( 2Q2%53( )'( =F,&-'(
."/("(-3+"()3(9&?6"&<3L(='<'("-?3-2<'<('#(&+',"-#(+'&#(
<"5"@'-2"#( ='<'( '( "#="?&9&?'CG3( )3( %2&5&;')3<E( :( %2&5&;'B(
)3<(&-2<3)%;(%+(?3-h%-23()"(='5'@<'#B?6'@"(3%(%+'()"#B(
?<&CG3( )'( &+',"+( =<"2"-)&)'( "( #G3( %2&5&;')'#( 2A?-&?'#(
?3-@"-?&3-'&#()"(="#$%&#'(2">2%'5(#3/<"("##'#('-32'CD"#E(
8="#'<()"#2"(+A23)3(#"<(3(+'&#(&-2%&2&@3I(-'(+")&)'("+(
$%"(A(%2&5&;')3(3(@3?'/%5F<&3()3(%2&5&;')3<I(-G3("#2F(&#"-B(
23( )"( =<3/5"+'#E( :#( #"+'#( )"( ="#$%&#'( )"( &+',"-#(
/'#"')3#("+(2">23('##%+"+($%"(">"+()"#?<&CD"#(2">B(
2%'&#()'#(&+',"-#E(M3-2%)3I(3#(%2&5&;')3<"#(#G3(<"5%2'-B(
2"#("+('-32'<(&-93<+'CG3(@&#%'5(-'(."/(#"-)3(9<"$%"-2"(
-G3(">&<(-"-6%+'()"#?<&CG3(2">2%'5E(!3<(3%2<3(5')3I('#(
'-32'CD"#(=<3)%;&)'#(='<'(?')'(&+',"+(#G3(-'2%<'5+"-B(
2"( #%/h"?2&@'#( "( )"="-)"-2"#( )3#( ?<&')3<"#( )'( =F,&-'(
."/E( !3<( m52&+3I( '( %2&5&;'CG3( )"( '-32'CD"#(2">2%'&#(=3<(
#&( =3)"+( <"@"5'<B#"( &-#%9&?&"-2"#I( "#="?&'5+"-2"( ='<'(
%2&5&;')3<"#( &-2"<"##')3#( -'#( ?'<'?2"<Q#2&?'#( @&#%'&#( )"(
%+'(&+',"+I(-3#(3/h"?23#($%"(-"5'("#2G3 <"=<"#"-2')3#("(
-3('##%-23(#3/<"(3($%'5(@"<#'+(K=3<(">"+=530(%+'(&+'B(
,"+(?3+(%+(?F5&?"()"(@&-63(=3)"(<"9"<&<B#"('(%+'(+&##'(
?<GLE( M3-#"$%"-2"+"-2"I( '( "9&?&\-?&'( )3#( +323<"#( )"(
/%#?'()"(&+',"-#(-'(."/(/'#"')3#('="-'#(-"#2"(2&=3()"(
="#$%&#'(=3)"('=<"#"-2'<('5,%+'#(5&+&2'CD"#E(
8(+'&3<(='<2"()3#(+'&#(?3-6"?&)3#(+323<"#()"(/%#?'()"(
&+',"-#(-'(."/(&-?5%&(hF(&-2"<9'?"#()"(="#$%&#'()"(&+'B(
,"-#( $%"( %2&5&;'+( "#2"( ='<')&,+'I( ?3+3( A( 3( ?'#3( )3
X33,5"( *+',"#(S(I( 3( p5&?j<(J(I( 3( *+',"q3@"<( Wg'V?6"<O^YI(
R&3,"-"#(W8#5'-)3,'-PPY("(3(."/i11j(W7%-#3-PSYE(
I"W&3$4*Y/73$4*!/%"0&Z%/)(
g'/"5'(S(r(!'< ')&,+'#()"("#="?&9&?'CG3 )"(="#$%&#'#()"(
&+',"-#E(
NGN* O7#"0/-/0$UV)*9/73$4*+$*#"7X3/7$(
8( ="#$%&#'( )"( &+',"-#(/'#"')'(-3(?3-2"m)3('##"-2'(-'(
?'<'?2"<&;'CG3( )"( =<3=<&")')"#( =<&+&2&@'#I( 2'&#( ?3+30( '(
?3<I( '( 93<+'( "( 2">2%<'( $%"( =3)"+( #"<( '%23+'2&?'+"-2"(
">2<'Q)'#()'#(=<H=<&'#(&+',"-#E(1#2"(='<')&,+'(<"@"53%B(
#"( "##"-?&'5( ='<'( ?3+=5"+"-2'<( '#( '-32'CD"#( 2">2%'&#(
#3/<"( '#( &+',"-#( )"( +3)3( '( =<3)%;&<( <"#%52')3#( +'&#(
<"5"@'-2"#(='<'(3(%2&5&;')3<(WZ6"<9&P[/YE(
o3#(#"+'#()"(="#$%&#'()"(&+',"-#(/'#"')'(-3(?3-2"mB(
)3I( '( 93<+%5'CG3( )'( &-2"<<3,'CG3( =3)"( '=<"#"-2'<( %+'(
)&9&?%5)')"( '?<"#?&)'( "( 2\+( #&)3( =<3=3#2'#( )&9"<"-2"#(
'/3<)',"-#I( -3+"')'+"-2"I( 3#( ='<')&,+'#( )"( ="#$%&#'(
=3<0
•( &+',"+()"(">"+=53]
•( "#/3C3]
•( Q?3-"#E(
:#( =<&+"&<3#( #"+'#( )"( Ms*q( KM3-2"-2( s'#")( *+',"(
q"2<&"@'5L( )&#=3-&/&5&;'+( &-2"<9'?"#( -'#( $%'&#( 3(%2&5&;'B(
)3<( "#="?&9&?'( '#( ?'<'?2"<Q#2&?'#( =<"2"-)&)'#( '( -Q@"5( )'(
?3<I(2">2%<'("(93<+'('2<'@A#()'("#?356'()"(%+'(&+',"+(
">"+=53( K$%"<VB/VB#&+&5'<B&+',"#L( WX"@"<#PPYE( 85,%-#(
">"+=53#()"(#"+'#($%"(%2&5&;'+("#2"(2&=3()"(='<')&,B(
+'( )"( ="#$%&#'( #G30( ts*M( Wp5&?j-"<OdYI( ."/i""j(
Wi+&26O^YI( !&?g3i""j( WX"@"<#O^Y( "( *+',"q3@"<( Wg'VB(
?6"<O^YE(
S(622=0``&+',"#E,33,5"E?3+`(
J(622=0``fffE95&?j<E?3+`(
M3-2%)3( "#2"( ='<')&,+'( '=<"#"-2'( '5,%+'#( 5&+&2'CD"#E(
:(=<3/5"+'()"()"2"<+&-'<('(+"563<(&+',"+(3%(?3-h%-23(
)"(&+',"-#(&-&?&'5(A()"-3+&-')3(=3<(=',"(;"<3(=<3/5"+E(
!'<'(<"#35@"<("#2"(=<3/5"+'(3(#"+'()"@"<F(93<-"?"<('3(
%2&5&;')3<(%+(?3-h%-23()"(&+',"-#(?'-)&)'2'#($%"(#"h'+(
<"=<"#"-2'2&@'#()"(23)3(3(?3-2"m)3(@&#%'5()'(."/E(:%2<'(
#35%CG3(%2&5&;')'(="53#(#"+'#(."/i""j("(3(*+',"q3B(
@"<I( ?3-#"( -'( "#="?&9&?'CG3( )"( %+'( ="#$%&#'( 2">2%'5(
&-&?&'5I( '=H#( '( $%'5( A( =3##Q@"5( <"'5&;'<( %+( <"9&-'+"-23(
2">2%'5(3%(@&#%'5E(:(#"+'(!&?g3i""j(<"$%"<($%"(3(%2&B(
5&;')3<( 93<-"C'( &-&?&'5+"-2"( %+'( &+',"+( ">"+=53E(
:%2<'('=<3>&+'CG3I(='<'('2"-%'<("#2"(=<3/5"+'I(?3-#"(
-'( %2&5&;'CG3( )"( ">"+=53#( =3#&2&@3#( h%-2'+"-2"( ?3+(
">"+=53#( -",'2&@3#E( 1#2"( =<3?"##3( A( )"-3+&-')3( )"(
<"23<-3()"(<"5"@k-?&'(WZ6"<9&P['YE(:(<"23<-3()"(<"5"@k-B(
?&'( ?3-#"( "+( 'h%#2'<( '%23+'2&?'+"-2"( %+'( ="#$%&#'I(
%#'-)3( &-93<+'CG3( 93<-"?&)'( ="53( %2&5&;')3<( #3/<"( '(
<"5"@k-?&'( )3#( 3/h"?23#( =<"@&'+"-2"( 3/2&)3#E(:#(%2&5&;'B(
)3<"#( =3)"+( '##&+I( <"9&-'<( &2"<'2&@'+"-2"( '( ="#$%&#'I(
'2<'@A#( )'( #"5"?CG3( )3#( ">"+=53#( +'&#( <"5"@'-2"#I( /"+(
?3+3( )3#( &<<"5"@'-2"#E( 1>"+=53#( )"( #"+'#( $%"( %2&5&B(
;'+("#2"(='<')&,+'(#G30(3(!&?g3i""j(WX"@"<#O^YI(3(p&<"(
WR"#"5'"<#P[YI( 3( *+',"q3@"<( Wg'V?6"<O^YI( 3( q*71(
WM6'-,OTY("(3(q"2<&"@<(U(E(
o3( ='<')&,+'( )"( "#="?&9&?'CG3( =3<( "#/3C3I( 3#(
%2&5&;')3<"#( =3)"+( #%/+"2"<( %+( "#/3C3I( ?5&?'<( -%+'(
='5"2"( )"( 2">2%<'#( 3%( #&+=5"#+"-2"( #"5"??&3-'<( %+'(
93<+'($%"(56"#(&-2"<"##"E(:(#"+'(&)"-2&9&?'('#(&+',"-#(
'<+';"-')'#($%"(2\+(3(+'&3<(-Q@"5()"(#&+&5'<&)')"(?3+(
3( "#/3C3( WX33)<%+PPYE( 1#2"( 2&=3( )"( "#="?&9&?'CG3(
="<+&2"( '3( %2&5&;')3<( "#="?&9&?'<( $%'&#( '#( ='<2"#( )'(
&+',"+( $%"( #G3( +'&#( &+=3<2'-2"#E( 8( %+( -Q@"5( )"(
'/#2<'?CG3( +'&#( "5"@')3I( "#2"( 2&=3( )"( ="#$%&#'#( =3)"(
2'+/A+( <"9"<"-?&'<( 3#( 3/h"?23#( <"2<'2')3#I( "@"-23#( 3%(
+"#+3("+3CD"#(=<"#"-2"#(-'(&+',"+(Wu6'-,PdYE(
M3-2%)3I( '( ="#$%&#'( =3<( "#/3C3( '=<"#"-2'( '5,%-#( =<3B(
/5"+'#E( oG3( A( "@&)"-2"( $%'5( '( &+=3<2k-?&'( $%"( )"@"<F(
#"<( '##%+&)'( $%'-23( N( )&#=3#&CG3( "#='?&'5( )3#( 3/h"?23#(
-3( "#/3C3( "9"?2%')3( ="53( %2&5&;')3<E( !3<( ">"+=53I( #"( 3(
%2&5&;')3<()"#"-6'<(%+(?Q<?%53(-'(='<2"(&-9"<&3<()3("#/3B(
C3I('(#%'(@"<)')"&<'(-"?"##&)')"()"(&-93<+'CG3(A()"(?Q<B(
?%53#( -'( ='<2"( &-9"<&3<( )'( &+',"+( 3%( '="-'#( ?Q<?%53#(
&-)"="-)"-2"+"-2"( )'( #%'( )&#=3#&CG3( "#='?&'5E( 1>"(
'&-)'I( %+'( )&9&?%5)')"( -'( "#="?&9&?'CG3( )'(&+=3<2k-?&'(
)3(9%-)3()3()"#"-63(K/'?j,<3%-)L(<"5'2&@'+"-2"(N(='<2"(
)'( 9<"-2"( K93<",<3%-)LE( !3<( ">"+=53I( #"( 3( %2&5&;')3<(
)"#"-6'<( %+'( /35'( "( ">&<( %+'( &+',"+( )"( %+'( /35'(
?3-2<'(%+(9%-)3(/<'-?3("(3%2<'(?3+(%+(+&m)3(?3+(%+'(
/35'I( $%'5( #"<F( '( +'&#( <"5"@'-2"( ='<'( 3( %2&5&;')3<E( oG3(
">"( %+'( <"#=3#2'( ?3<<"?2'( N#( ="<,%-2'#( '-2"<&3<"#I(
%+'(@";($%"(?')'(%2&5&;')3<(2"+('#(#%'#(K)&9"<"-2"#L(=<"B(
9"<\-?&'#E( iG3( ">"+=53#( )"( #"+'#( $%"( %2&5&;'+( "#2"(
2&=3()"(="#$%&#'I(3(q"2<&"@<(U(I(3(*+',"i?'="(We"fPPY("(3(
ts*M(Wp5&?j-"<OdYI(-3#($%'&#(3(%2&5&;')3<(2"+(N()&#=3#&B(
CG3(9"<<'+"-2'#(#&+=5"#()"()"#"-63E(
U(622=0``5'/#E#V#2"+3-"E'2`<"2<&"@<`
o3(?'#3()3(*+',"i?'="I(3(%2&5&;')3<(2"+('&-)'(N()&#=3B(
#&CG3(%+(?3-h%-23()"(Q?3-"#(#"+k-2&?3#($%"(#"(<"9"<"+('(
)&9"<"-2"#( ?3-?"&23#( K=3<( ">"+=530( 3( +'<I( F<@3<"#I( ="#B(
#3'#L($%"(3(%2&5&;')3<(=3)"(?353?'<(-'(="#$%&#'I(&-)&?'-B(
)3( )"#)"( +3)3( 3-)"( A( $%"( )"@"<F( '='<"?"<( -'( &+',"+(
We"fO^YE(
NG[* !/%"0&Z%/)*+"*,'$\"(7(
o3(?'#3()'(="#$%&#'()"(&+',"-#('2<'@A#()"(%+()&<"?2H<&3(
)"( &+',"-#I( 3( +323<( )"( /%#?'( 39"<"?"( %+'( 2'>&3-3+&'(
/'#"')'( "+( 2"+'#( 2'&#( ?3+30( b'<2"( "( ?%52%<'cI( b)"#=3<B(
23cI(b<",&D"#()3(+%-)3cE(M')'(2"+'(=3)"(#"<(=3<(#%'(@";(
)&@&)&)3( "+( #%/B2"+'#( ?<&'-)3( %+'( 6&"<'<$%&'( )"( ?'2"B(
,3<&'#( K=3<( ">"+=530( 3( 2"+'( b<",&D"#( )3( +%-)3c( =3)"(
#"<()&@&)&)3(-3#(#%/B2"+'#I(b1%<3='cI(b89<&?'c("(b8+AB(
<&?'cLE( !3)"+( '&-)'( ">&<( 5&-j#( "-2<"( 3#( )&9"<"-2"#(
2"+'#I(?3-#2&2%&-)3(%+()&?&3-F<&3I($%"(="<+&2"('3(%2&5&B(
;')3<(-'@",'<("-2<"(%+(,<'-)"(?3-h%-23()"(2"+'#I(?')'(
%+(?3+(%+(?3-h%-23()"(&+',"-#('##3?&')3E(
4+( ">"+=53( )"#2"( 2&=3( )"( #"+'#( A( 3( ."/i11jI( -3(
$%'5( '( -'@",'CG3( '2<'@A#( )3( )&<"?2H<&3( A( '##3?&')'( N(
="#$%&#'( 2">2%'5( <"'5&;')'( #3/<"( %+( )"2"<+&-')3( 2"+'(
W7%-#3-PSYE(
[G* E:QHK*!O*QYQ:,QLMK(
8="#'<( )3(,<'-)"(-m+"<3()"(=3##Q@"&#(#"+'#()"(="#B(
$%&#'( )"( &+',"-#( -'( ."/I( -G3( ">"+( '&-)'( +%&23#(
"#2%)3#("9"?2%')3#('?"<?'()'(%#'/&5&)')"()"#2"#(#"+'#E(
:(2<'/'563('$%&('=<"#"-2')3(2"+I(=3<2'-23I(?3+3(3/h"?B(
2&@3(,"<'5("#2%)'<('#(&-2"<'?CD"#()3#(%2&5&;')3<"#(-'(%2&5&B(
;'CG3()"#2"#(#"+'#I('2<'@A#()"(%+'('-F5&#"()"2'56')'(
)'#( &-2"<<3,'CD"#( "9"?2%')'#( ="53#( %2&5&;')3<"#( "( )'(
3/#"<@'CG3()3(#"%(?3+=3<2'+"-23($%'-)3(%2&5&;'+("#2"#(
#"+'#E(
:( =<"#"-2"( "#2%)3( 2"+( 3#( #",%&-2"#( 3/h"?2&@3#( "#="?Q9&B(
?3#0(
( 8,<%='<(3#(%2&5&;')3<"#()"('?3<)3(?3+(3#(#"%#(="<9&#(
"(&)"-2&9&?'<('#(=<"9"<\-?&'#()"(?')'(?'2",3<&'](
( !"<?"/"<( 3( +3)3(?3+3(3#(%2&5&;')3<"#(93<+%5'+('#(
&-2"<<3,'CD"#("(3($%"("#="<'+()3(#"+'](
( *)"-2&9&?'<( 3#(?'#3#(-3#($%'&#(A(=<"9"<Q@"5(%+'(="#B(
$%&#'(@&#%'5(3%(%+'(="#$%&#'(/'#"')'("+(2">23](
( o3(?'#3()'#(="#$%&#'#(2">2%'&#I(&)"-2&9&?'<(3(-m+"<3(
)"(2"<+3#(=3<(="#$%&#'("(<"#="?2&@'#(?'<'?2"<Q#2&?'#](
( o3(?'#3()'#(="#$%&#'#(@&#%'&#I('-'5&#'<(3(-m+"<3()"(
&+',"-#(=3<(="#$%&#'](
( :/2"<( <"23<-3( #3/<"( 3(,<'%()"(#'2	'CG3('?"<?'()'#(
&+',"-#(<"23<-')'#](
( 8-'5&#'<('(<"5'CG3("-2<"('#(=<"9"<\-?&'#()3#(%2&5&;'B(
)3<"#("(3#(#"%#(="<9&#E(
8( ">2<'?CG3( )"#2"( ?3-h%-23( )"( ?'<'?2"<Q#2&?'#( @&#'( ?3+B(
=<""-)"<( 3( +A23)3( +'&#( ')"$%')3( ='<'( '( "#="?&9&?'CG3(
)'#(&+',"-#(=<"2"-)&)'#(="53#(%2&5&;')3<"#E(
!'<'('("5'/3<'CG3()3(=5'-3()"('@'5&'CG3I(93<'+("#?356&B(
)3#( 3#( #"+'#( +'&#( <"=<"#"-2'2&@3#( )'#( '/3<)',"-#(
<"9"<&)'#(-'(#"?CG3('-2"<&3<E(8="#'<()"(2"<(#&)3(9"&2'(%+'(
'-F5&#"()3?%+"-2'5(+'&#(">'%#2&@'(#3/<"(3%2<3#(#"+'#(
)"( ="#$%&#'( )"( &+',"-#( -'( ."/I( 3( 9'?23( )"( "#2"#( -G3(
"#2'<"+()&#=3-Q@"&#(-'(."/I(&+=")&%('(#%'(%2&5&;'CG3(-3(
=5'-3()"('@'5&'CG3E(8##&+I(?3+3(#"+'(+'&#(<"=<"#"-B(
2'2&@3( )'#( ="#$%&#'#( )"( &+',"-#( ?3+( "#="?&9&?'CG3( 2">B(
2%'5( 93&( "#?356&)3( 3( X33,5"( *+',"#( $%"( AI( #&+%52'-"'B(
+"-2"I( %+( +323<( )"(/%#?'(hF(?3-6"?&)3()'(+'&3<&'()'#(
="##3'#E(:(#"+'(."/i11j(="<+&2"I(#&+%52'-"'+"-2"I(
="#$%&#'#(?3+("#="?&9&?'CG3(2">2%'5I(="#$%&#'#('2<'@A#()"(
%+()&<"?2H<&3("(2"#2'<('(%2&5&;'CG3()"(%+'(9"<<'+"-2'()"(
<"23<-3( )"( <"5"@k-?&'E( !3<( m52&+3I( ?3+3( #"+'( <"=<"B(
#"-2'2&@3( )'( "#="?&9&?'CG3( )"( ="#$%&#'#( =3<( "#/3C3( 93&(
"#?356&)3(3(+323<()"(/%#?'(q"2<&"@<($%"(="<+&2"('&-)'('(
<"'5&;'CG3()"(="#$%&#'#('2<'@A#()"(&+',"-#()"(">"+=53E(
M3+(3(3/h"?2&@3()"('@'5&'<("#2"#(2<\#(#"+'#I(93&(?3-?"B(
/&)3( %+( 2"#2"( )"( %#'/&5&)')"( ?3+=3#23( =3<( 2<\#( ='<2"#(
)&-2'#0( =<A( "( =H#( $%"#2&3-F<&3( "( %+'( "-2<"@'( ?3+(
,%&G3E(:(=<A($%"#2&3-F<&3(A(?3-#2&2%Q)3(=3<(%+(?3-h%-23(
)"(="<,%-2'#($%"(@&#'+(3/2"<(&-93<+'CD"#(#3/<"(3(="<9&5(
)3#(%2&5&;')3<"#("(#3/<"('(#%'(">="<&\-?&'()"(="#$%&#'()"(
&+',"-#(-'(."/E(
8("-2<"@'(?3+(,%&G3(2"+(?3+3(3/h"?2&@3('(<"'5&;'CG3(
)"( %+( ?3-h%-23( )"( 2'<"9'#E( 8( 2'<"9'( &-&?&'5( ?3-#"( -'(
">=53<'CG3(5&@<"()3(#"+'(=3<(='<2"()3(%2&5&;')3<(?3+(3(
3/h"?2&@3()"(3/2"<(%+'(3=&-&G3(,53/'5(='<'(?')'(#"+'(
'(-Q@"5()"()&9&?%5)')"#()"('=<"-)&;',"+("()"("#="?&9&?'B(
CG3()'(="#$%&#'E(8(#",%-)'(2'<"9'(?3-#"(-'(<"'5&;'CG3(
)"(%+'(="#$%&#'("#="?Q9&?'0(b=<3?%<'<(&+',"-#()"(<3#'#(
@"<+"56'#cE(M3+("#2'(2'<"9'(=<"2"-)"B#"(3/2"<('(3=&-&G3(
)3#(%2&5&;')3<"#(#3/<"(3("?<G()"(<"#%52')3#()"(?')'(#"B(
+'E( 8( m52&+'( 2'<"9'( ?3-#"( -'( ="#$%&#'( )"( &+',"-#(
#"+"56'-2"#( '( 2<\#( &+',"-#( 93<-"?&)'#( &-&?&'5+"-2"E(
1#2'#( &+',"-#( 93<'+( "#?356&)'#( %2&5&;'-)3( %+( ?<&2A<&3(
$%"(="<+&2&##"(@"<&9&?'<('(">\-?&'()"()&9"<"-2"#(-Q@"&#(
)"( )&9&?%5)')"( -3( )"#"-63( )3( "#/3C3I( 3%( "#="?&9&?'CG3(
2">2%'5(Kp&,%<'(SLE(
p&,%< '(S0(*+',"-#(%2&5&;')'#(-3(=5'-3()"('@'5&'CG3E(
4+'(@";($%"('="-'#(A(93<-"?&)'(%+'(&+',"+("(-G3(%+(
-3+"(3%()"#?<&CG3(@"</'5()3($%"(#"(=<"2"-)"I(A(=3##Q@"5I(
'2<'@A#()"#2"(2"#2"I(="<?"/"<()"($%"(+3)3(3#(%2&5&;')3<"#(
"#="?&9&?'+('(="#$%&#'($%"(=<"2"-)"+("9"?2%'<E(o3(2"#2"(
'3( #"+'( ."/i11jI( #G3( '&-)'( "9"?2%')'#( ="#$%&#'#(
%2&5&;'-)3( 3( )&<"?2H<&3( ">"-2"I( )"( +3)3( '( ="<?"/"<( '(
3=&-&G3( )3#( %2&5&;')3<"#( #3/<"( "#2"( 2&=3( )"( ="#$%&#'E( a(
'&-)'( '-'5&#')'( '( %2&5&;'CG3( )3( <"23<-3( )"( <"5"@k-?&'I(
?3+(3(3/h"?2&@3()"(="<?"/"<(#"("#2'(A(3%(-G3(%+'(9"<<'B(
+"-2'(m2&5E(o3(2"#2"('3(#"+'(q"2<&"@<I('5A+()3#(2"#2"#(
'-2"<&3<+"-2"( +"-?&3-')3#I( "9"?2%')3#( <"?3<<"-)3( '3(
"#/3C3I(#G3(2'+/A+("9"?2%')'#(="#$%&#'#(=3<(&+',"+()"(
">"+=53I(<"?3<<"-)3('(9&?6"&<3#(93<-"?&)3#E
:(=H#($%"#2&3-F<&3(K3%()"(#'2	'CG3L(93&(?3-#2<%Q)3(?3+(
/'#"( -3( t4*i([( Kt%"#2&3--'&<"( 93<( 4#"<( *-2"<'?2&3-(
i'2	'?2&3-L( "( -3( $%"#2&3-F<&3( -3<+'5&;')3( )'( R&,&2'5(
1$%&=+"-2( M3<=3<'2&3-I( 3( i4i(d(KiV#2"+( 4#'/&5&2V( i?'B(
5"LE(1#2"($%"#2&3-F<&3("-,53/'(%+(?3-h%-23()"(="<,%-2'#I(
-'#( $%'&#( 3#( %2&5&;')3<"#( 9';"+( %+'(?3+='<'CG3I(#3/<"(
)&@"<#3#( '#="?23#( )3#( )&9"<"-2"#( #"+'#I( ?5'##&9&?'-)3(
?')'(%+()"5"#(-%+'("#?'5'()"(S(K7%&23(7'%L('(n(K7%&23(
s3+LE( a( '&-)'( =")&)3( '3#( %2&5&;')3<"#( $%"( &-)&$%"+(
$%'&#(3#(#"+'#($%"(%2&5&;'<&'+(='<'(<"'5&;'<('#(2'<"9'#(
-3( )&'( '( )&'( "( 2'+/A+( $%"( 9'C'+( %+( ?3+"-2F<&3( 9&-'5(
#3/<"(?')'(#"+'E(
!'<'( %+'(?3<<"?2'('@'5&'CG3()3#(#"+'#I("(/'#"')3(-3(
"#2%)3( )"( o&"5#"-( Wo&"5#"-PPYI( 3( =5'-3( )"('@'5&'CG3(93&(
<"'5&;')3( '( SP( ="##3'#( )&-2'#I( ?3+( ="<9&#( )&@"<#&9&?'B(
)3#I( $%"( '/<'-,"+( U( ="##3'#( )'( F<"'( )"( ,"#2G3I( J( )"(
?&\-?&'#I( S( )"('<2"#( "([()"(&-93<+F2&?'](/"+(?3+3()&9"B(
<"-2"#(?5'##"#("2F<&'#(KbSTBJ[cI(bJdBU[cI(bUdB[dcI(bv[dcL(
"( )&9"<"-2"#( -Q@"&#( )"( ">="<&\-?&'E( R%<'-2"( '( <"'5&;'CG3(
)3( =5'-3( )"( '@'5&'CG3( 23)3#( 3#( %2&5&;')3<"#( 2"#2'<'+( 3#(
2<\#(#"+'#()"(="#$%&#'()"(&+',"-#E(
?G* QH]:,DO*!KD*JOD8:IQ!KD(
1#2'( #"?CG3( '=<"#"-2'( 3#( =<&-?&='&#( <"#%52')3#( 3/2&)3#(
='<'( ?')'( #"+'( '2<'@A#( )3( =<A( $%"#2&3-F<&3( "( )'#(
"-2<"@'#(?3+(,%&G3I("(%+'(?3+='<'CG3("-2<"(3#()&9"B(
<"-2"#(#"+'#('2<'@A#()3(=H#($%"#2&3-F<&3E(
?G=* <))\4"*,'$\"7(
:( +323<( )"( /%#?'( X33,5"( *+',"#( Kp&,%<'( JL(3/2"@"("+(
,"<'5(/3'#(?5'##&9&?'CD"#I(#"-)3(?'<'?2"<&;')3(?3+3(+%&B(
23( 9F?&5( )"( %2&5&;'<( "( 2'+/A+( +%&23( 9F?&5( )"( '=<"-)"<( '(
%2&5&;'<]( A( '&-)'( ?5'##&9&?')3( ?3+3( 2"-)3( %+'( /3'( '='B(
<\-?&'("(%+'(/3'(3<,'-&;'CG3()3("?<G()"(="#$%&#'E(
p&,%< '(J0(1?< G()"(< "#%52')3#()3(X33,5"(*+',"#E(
M3-2%)3I('5,%-#(%2&5&;')3<"#(<"9"<&<'+('(-"?"##&)')"()"(
">&<"+(+"-3#(&+',"-#(=3<(=F,&-'()"(<"#%52')3#I(?')'(
&+',"+( '=<"#"-2'<( %+'( +'&3<( )&+"-#G3( "( "5&+&-'<( 3(
#?<355(-'#(=F,&-'#()"(<"#%52')3#E(!3<(3%2<3(5')3I(A('&-)'(
<"9"<&)3(=3<(%+(-m+"<3(?3-#&)"<F@"5()"(%2&5&;')3<"#($%"(
'=H#( '( 3/2"-CG3( )'( =F,&-'( )"( <"#%52')3#I( 3( -m+"<3( )"(
[(fffE5'=E%+)E")%`$%&#`&-)">E62+5(
d(fffE%#'/&5&2VE#"<?3E?3+`2<%+=`)3?%+"-2#`#%#?6'=2E)3?(
='##3#( '2A( 3/2"<( '( &+',"+( "#?356&)'( A( ">?"##&@3E( 8(
<"?3+"-)'CG3(,"<'5(A('()"($%"I(3(%2&5&;')3<('=H#('("#?3B(
56'( )'( &+',"+I( '( @&#%'5&;"( 53,3( -3( 93<+'23( <"'5I( "( #H(
)"=3&#I( ?'#3( =<"2"-)&)3I( #"h'( <")&<"??&3-')3( ='<'( 3( #&2"(
3-)"( #"( 53?'5&;'( '( &+',"+E( 8( =<&-?&='5( )&9&?%5)')"(
">=<"##')'(="53#(%2&5&;')3<"#(A("-?3-2<'<(3#(2"<+3#(')"B(
$%')3#(='<'("#="?&9&?'<('(#%'(-"?"##&)')"()"(&-93<+'CG3E(
1+( +A)&'I( 3#( %2&5&;')3<"#( 9';"+( )%'#( ="#$%&#'#( ='<'(
"-?3-2<'<( '( &+',"+( =<"2"-)&)'( "( -G3( @&#&2'+( +'&#( )3(
$%"( '( =<&+"&<'( =F,&-'( )"( <"#%52')3#E( :( 2"+=3( +A)&3(
='<'("-?3-2<'<('#(&+',"-#(=<"2"-)&)'#(A()"(JO(#",%-)3#E(
?GN* S";DOO^(
:( #"+'(."/i11j(="<+&2"I(#&+%52'-"'+"-2"I(="#$%&B(
#'#(?3+("#="?&9&?'CG3(2">2%'5("(="#$%&#'#('2<'@A#()"(%+(
)&<"?2H<&3("('(%2&5&;'CG3()"(%+'(9"<<'+"-2'()"(<"23<-3()"(
<"5"@k-?&'(Kp&,%<'(ULE(:(+323<()"(/%#?'(."/i11j(3/2"B(
@"I('3(?3-2<F<&3()3#(3%2<3#(#"+'#I(%+'(+F(?5'##&9&?'B(
CG3I(2'-23('3(-Q@"5()'('=<"-)&;',"+("(9'?&5&)')"#()"(%2&B(
5&;'CG3I(?3+3()'('='<\-?&'("()'(3<,'-&;'CG3()3("?<G()"(
="#$%&#'E(
4+'( )'#( ?'<'?2"<Q#2&?'#( ">=53<')'#( -"#2"( #"+'I( A( '(
">\-?&'( )"( %+( )&<"?2H<&3( ='<'( "9"?2%'<( '#( ="#$%&#'#E(
o3( "-2'-23I( "#2"( 2&=3( )"( ="#$%&#'( 3%( -'@",'CG3( 3/2"@"(
%+'(3=&-&G3(/'#2'-2"(-",'2&@'(=3<(='<2"()3#(%2&5&;')3<"#I(
-3+"')'+"-2"( -3( $%"( )&;( <"#="&23( N( 3<,'-&;'CG3( )3#(
2"+'#E(:(-m+"<3()"(='##3#(-"?"##F<&3(='<'("-?3-2<'<('#(
&+',"-#('2<'@A#()'(%2&5&;'CG3()'(-'@",'CG3(-3 )&<"?2H<&3(
A( 2'+/A+( ?3-#&)"<')3( ">?"##&@3E( R"#2"( +3)3I( '="-'#(
JPw( )3#( &-$%&<&)3#( '9&<+'+( =<"9"<&<( %2&5&;'<( %+'( ="#B(
$%&#'( ?3+(-'@",'CG3(-3()&<"?2H<&3("+(@";()"(%+'(="#B(
$%&#'(2">2%'5E(
p&,%< '(U0(1?< G()"(="#$%&#'()3 ."/i11jE(
8(3%2<'(?'<'?2"<Q#2&?'($%"()&-,%"("#2"(#"+'()3#(<"#B(
2'-2"#(A('(=3##&/&5&)')"()"(%2&5&;'CG3()"(%+'(9"<<'+"-2'(
)"(<"23<-3()"(<"5"@k-?&'E(1#2'(9"<<'+"-2'I('="#'<()"(-G3(
#"<(?3-#&)"<')'(+%&23(&-2%&2&@'I(A(?3-#&)"<')'(?3+3(2"-B(
)3('5,%+'(%2&5&)')"E(
o"#2"( #"+'( #G3( @F<&'#( '#( )&9&?%5)')"#( #"-2&)'#( ="53#(
%2&5&;')3<"#E(8(+'&#(-32H<&'I(">=<"##'(="5'(232'5&)')"()3#(
&-$%&<&)3#I( A( '( &+=3##&/&5&)')"( )"( %2&5&;'<( +'&#( )3( $%"(
%+( 2"<+3( -'( ="#$%&#'( 2">2%'5E( !'<'( '5A+( )3( %2&5&;')3<(
-G3( #"( '="<?"/"<( )"#2"( '#="?23( =3<$%"( -G3( ">"( $%'5B
$%"<(&-93<+'CG3(#3/<"(3(-m+"<3(5&+&2"()"(2"<+3#I(23<-'(
N( ='<2&)'( '( "#="?&9&?'CG3( )'( ="#$%&#'( +'&#( 5&+&2')'( "(
@'#2'E(
g'5( ?3+3( -3(#"+'( X33,5"( *+',"#I( '5,%-#( &-$%&<&)3#(
?3-#&)"<'+(">&<"+(='##3#()"#-"?"##F<&3#('2A(N(3/2"-B(
CG3( )'( &+',"+E( :#( %2&5&;')3<"#( #%,"<&<'+( $%"('=H#( 2"<(
#&)3( #%/+"2&)'( '( ="#$%&#'I( )"@"<G3( '='<"?"<( 53,3( '#(
&+',"-#(<"#%52'-2"#("(-G3('="-'#(%+(5&-j(='<'('(=F,&-'(
?3+( 3#( <"#%52')3#E( 4+( 9'?23<( $%"( &-95%"-?&3%(-",'2&@'B(
+"-2"( 3( 2"#2"( A( '( ">\-?&'( )"( "<<3#E( p3<'+( 9<"$%"-2"#(
'#( #&2%'CD"#( "+( 3#( %2&5&;')3<"#( -G3(?3-#",%&<'+('?")"<(
N#(&+',"-#(<"23<-')'#(="53(#"+'(-'(=F,&-'()"(<"#%52'B(
)3#E(
1+( +A)&'I( 3#( %2&5&;')3<"#( 9';"+( )%'#( ="#$%&#'#( "( @&#&B(
2'+( JId( =F,&-'#( )"( <"#%52')3#E( :( 2"+=3( +A)&3( ='<'(
"-?3-2<'<( '#( &+',"-#( =<"2"-)&)'#( A( )"( S( +&-%23( "( Jn(
#",%-)3#E(
?G[* J"&%/"9%*_O7;)U)`(
o3( ?'#3( )'#( ="#$%&#'#( '2<'@A#( )"( "#/3C3( -3( +323<( )"(
/%#?'( q"2<&"@<I( '#( ?5'##&9&?'CD"#( #G3( "+( ,"<'5( /3'#I(
3/2"-)3( '="-'#( %+'( ?5'##&9&?'CG3( +'&#( /'&>'( -'( 9'?&5&B(
)')"()"(%2&5&;'CG3E(1#2"(<"#%52')3(?3&-?&)"(?3+('(=<&-?&B(
='5( )&9&?%5)')"(<"9"<&)'(="53#(%2&5&;')3<"#(-'("#="?&9&?'B(
CG3()'(="#$%&#'('2<'@A#()3()"#"-63()"(%+("#/3C3I("#="B(
?&'5+"-2"( $%'-)3( <"'5&;')3( '2<'@A#( )"( %+'( 9"<<'+"-2'(
)"()"#"-63(2<')&?&3-'5E(
o3( $%"( )&;( <"#="&23( '3( )"#"-63( )3( "#/3C3I( '="#'<( )"( 3(
-m+"<3()"(?3<"#()&#=3-Q@"5(#"<(?3-#&)"<')3(')"$%')3I(3#(
%2&5&;')3<"#(<"9"<"+($%"('#(3=CD"#()&#=3-Q@"&#I($%"(?3-B(
#"+( '="-'#( -%+( ?3-h%-23( )"( ?Q<?%53#( )"( )&9"<"-2"#(
2'+'-63#I( -G3( #G3( #%9&?&"-2"#E( M3+3( 2'5I( #G3( )')'#(
)&@"<#'#(#%,"#2D"#()"(9"<<'+"-2'#($%"()"@"+(#"<(&-?5%QB(
)'#I( 2'&#( ?3+3I( 93<+'#( ,"3+A2<&?'#I( 2<'C3#( +'&#( 9&-3#I(
%+'(/3<<'?6'("('(&-?5%#G3()"(2">2%<'#(=<")"9&-&)'#E(4+'(
?'<'?2"<Q#2&?'('=3-2')'(?3+3(-",'2&@'(=3<()&@"<#3#(%2&5&B(
;')3<"#I( A( '( &-">\-?&'( )"( %+( /32G3( $%"( ="<+&2'(#%/B(
+"2"<( '(="#$%&#'I(%+'(@";($%"(3(#"+'(#%/+"2"('%23B(
+'2&?'+"-2"( 3( "#/3C3( )"( ?')'( @";( $%"( #"( <"'5&;'( %+'(
'52"<'CG3('3()"#"-63('-2"<&3<E(
:%2<'()&9&?%5)')"($%"(93&(<"9"<"-?&')'(A('(&+=3##&/&5&)'B(
)"()"(3/2"<(/3-#(<"#%52')3#("+(2"+=3(m2&5E(R"(9'?23I("+(
+A)&'( #G3(-"?"##F<&3#(J(+&-%23#("([n(#",%-)3#(='<'(3#(
%2&5&;')3<"#( "-?3-2<'<"+( '#( &+',"-#( =<"2"-)&)'#( "( #G3(
-"?"##F<&'#("+(+A)&'(U(="#$%&#'#(='<'("-?3-2<'<('#(&+'B(
,"-#(<"5"@'-2"#(
?G?* J"&%/"9%*_,'$\"'*OW"'#4)`(
o3( 2"#2"( '3( #"+'( q"2<&"@<( =3<( ="#$%&#'( )"( &+',"+(
">"+=53( Kp&,%<'( [LI( 3#( %2&5&;')3<"#( ?5'##&9&?'<'+( "#2'(
9%-?&3-'5&)')"( ?3+3( #"-)3( m2&5( "( 9F?&5( )"( %2&5&;'<E( o3(
"-2'-23I( '( +'&3<&'( )3#( %2&5&;')3<"#( <"9"<&<'+( $%"( 3#(
<"#%52')3#( 3/2&)3#( #G3( +'&3<&2'<&'+"-2"( &<<"5"@'-2"#I( "(
$%"( ='<'( $%"( #"( =3##'( "9"?2%'<("#2"(2&=3()"(="#$%&#'#I(A(
-"?"##F<&3( 2"<( hF( )&#=3-Q@"5I( N( ='<2&)'I( %+( ,<'-)"( ?3-B(
h%-23()"(&+',"-#I(3%(%+'(&+',"+(#"+"56'-2"E(
p&,%< '([0(!"#$%&#'(=3< (&+',"+()"(">"+=53(-3(q"2< &"@< E(
?Ga* 5)'#$%$UV)*"*5)(0437b"7(
M3+3(?3+='<'CG3("-2<"(3#()&9"<"-2"#(#"+'#I(A(&+=3<B(
2'-2"( -32'<( $%"( 3( 2"+=3( -"?"##F<&3( ='<'( "-?3-2<'<( '#(
&+',"-#( =<"2"-)&)'#( A( +%&23( +"-3<( -3( X33,5"( *+',"#(
KJO(#",%-)3#L()3($%"(-3#(<"#2'-2"#(#"+'#E(o3(?'#3()3(
."/i11j( KS( +&-%23( "( Jn( #",%-)3#L( )"@&)3( "##"-?&'5B(
+"-2"(N()&9&?%5)')"("+("-?3-2<'<(&+',"-#(<"5"@'-2"#I("(
-3( ?'#3( )3( q"2<&"@<I( )"@&)3( -G3( #H( N( )&9&?%5)')"( ='<'(
"-?3-2<'<('#(&+',"-#I(+'#(2'+/A+()"@&)3('3(2"+=3($%"(
)"+3<'('()"#"-6'<(?')'("#/3C3E(
8( g'/"5'( J( '=<"#"-2'( '( +")&'-'( )3#( <"#%52')3#( 3/2&)3#(
="53#()&@"<#3#(#"+'#('-'5&#')3#(-%+'("#?'5'("-2<"(S("(
nE(g'5(?3+3(93&(hF(<"9"<&)3I(3(X33,5"(*+',"#(3/2A+(=<'B(
2&?'+"-2"( #"+=<"( '( +"563<( ?5'##&9&?'CG3E( o3( ">2<"+3(
3=3#23("#2F(3(."/i11jI($%"(3/2A+('#(=&3<"#(?5'##&9&?'B(
CD"#E(
X33,5"( ."/#""j( q"2<&"@<(
K"#/3C3L(
q"2<&"@<(
K&+,(">L(
8=<"-)&;',"+( nIP( UIP( dIP( dIP(
g"+=3()"(8=<"-)&B(
;',"+( dId( UId( dIP( nIP(
p'?&5&)')"()"(42&5&B(
;'CG3( nIP( UIP( [IP( dIP(
p'?&5&)')"()"(1#="B(
?&9&?'CG3( nIP( JId( UId( dId(
q'=&)";()"(1#="?&B(
9&?'CG3( nIP( UIP( UIP( dIP(
8h%)'(p3<-"?&)'( dIP( UIP( [Id( [Id(
ox()"(!'##3#( nIP( JId( UId( dIP(
i"$%\-?&'()"(
8?CD"#( dId( UIP( [Id( [Id(
y352'<(82<F#( nIP( [Id( [Id( dIP(
p%-?&3-'5&)')"#( dIP( JId( dIP( dIP(
i&+=5&?&)')"( dId( UId( [Id( dIP(
8='<\-?&'( dIP( UIP( dIP( dIP(
t%'5&)')"()'#(
*+',"-#( dIP( UIP( dIP( dIP(
19&?&\-?&'( dId( UIP( UIP( UId(
ox()"(*+',"-#(
q"23<-')'#( dIP( [IP( dIP( dIP(
42&5&;'CG3()3(i&#B(
2"+'( nIP( JId( UId( [IP(
g'/"5'(J0(M5'##&9&?'CD"#(?3+='< '2&@'#("-2< "(3#()&9"< "-2"#(
#"+'#E
8=H#(2"<(#&)3(9"&2'('('-F5&#"(&-&?&'5()3#()')3#I(=<3?")"%B(
#"('&-)'('(%+(?<%;'+"-23()"()')3#()"(93<+'('('-'5&#'<(
#"( ">"+( )&9"<"-C'#( #&,-&9&?'2&@'#( -'#( <"#=3#2'#( )3#(
)&9"<"-2"#( ="<9&#( )"( %2&5&;')3<"#E( M3-2%)3I( "+( ,"<'5( '#(
<"#=3#2'#( #G3( +%&23( 63+3,A-"'#(-G3(#"(-32'-)3('()&9"B(
<"-C'("-2<"(3#()&9"<"-2"#(="<9&#()3#(%2&5&;')3<"#E(
8#(<"#=3#2'#(3/2&)'#(-3(#"+'(X33,5"(*+',"#(#G3 &)\-B(
2&?'#( ='<'( 3#( )&9"<"-2"#( ="<9&#E( 8="-'#( -'('@'5&'CG3()3#(
<"#2'-2"#( #"+'#( #"( @"<&9&?3%( '5,%+'( )&9"<"-?&'CG3( )"(
<"#=3#2'#I( "#="?&9&?'+"-2"( "-2<"( 3#( )&9"<"-2"#( "#?'5D"#(
"2F<&3#("(2'+/A+("-2<"(3#(&-$%&<&)3#()'#(F<"'#()"(,"#2G3(
"(')+&-<'CG3("(3#()'#(<"#2'-2"#(F<"'#E(
:#(&-$%&<&)3#(="<2"-?"-2"#('3("#?'5G3("2F<&3(b&)')"(#%="B(
<&3<('([dc("()'#(F<"'#()"(,"#2G3("(')+&-<'CG3I(?3+='B(
<'2&@'+"-2"(?3+(3#(<"#2'-2"#I(?5'##&9&?'+(#"+=<"(=&3<(3(
."/i11j( "( 3( q"2<&"@<E( g'5( 9'?23( -G3( 93&( 3/#"<@')3( -'(
'@'5&'CG3( )3( #"+'( X33,5"( *+',"#E( y"<&9&?3%B#"( 2'+B(
/A+( $%"(3#( &-$%&<&)3#( ?3+( "#2"( ="<9&5( '=<"#"-2'+( +'&#(
)&9&?%5)')"#()"(%2&5&;'CG3()"#2"#(#"+'#I()"+3<'+(+'&#(
2"+=3('(<"'5&;'<(%+'(="#$%&#'("($%"(2&=&?'+"-2"(@&#%'5&B(
;'+(+'&#(=F,&-'#()"(<"#%52')3#E(
*-)"="-)"-2"+"-2"()3(="<9&5()"(?')'(&-$%&<&)3('(<"#=3#B(
2'( N(="<,%-2'I(bt%'5(3(#"+'($%"(%2&5&;'<&'+(-3()&'('(
)&'cI(93&(%-k-&+"("+(?3-#&)"<'<( 3(#"+'(X33,5"(*+'B(
,"#I( ">?"=23( %+( &-$%&<&)3( $%"( =<"9"<"( 3( #"+'( ."/B(
i11jE(8(+'&3<&'()3#(&-$%&<&)3#(<"9"<"($%"(3(#"+'($%"(
<"?3+"-)'@'+( A( 3(X33,5"(*+',"#(?3+=5"+"-2')3(?3+(
="#$%&#'( =3<( &+',"-#( )"( ">"+=53I( =3<( "#/3C3( "( ?3+(
<"23<-3()" <"5"@k-?&'E(
q"5'2&@'+"-2"(N(">="<&\-?&'("+(="#$%&#'()"(&+',"-#I(U(
="##3'#( "9"?2%'+( @F<&'#( @";"#( =3<( #"+'-'( "#2"( 2&=3( )"(
="#$%&#'#I(S(%2&5&;'(%+'(@";(=3<(#"+'-'("(n('="-'#(3?'B(
#&3-'5+"-2"E( g3)'#( '#( ="##3'#( ="#$%&#'+( &+',"-#( =3<(
+32&@3#()"("-2<"2"-&+"-23("(^(2'+/A+(=3<(+32&@3#(=<3B(
9&##&3-'&#E(!3<(3%2<3(5')3I(hF(23)3#(2&-6'+(?3-6"?&+"-23(
)3( #"+'( X33,5"( *+',"#( "( )%'#( ="##3'#( ?3-6"?&'+(
2'+/A+( 3( #"+'( q"2<&"@<E( 8="#'<( )"#2"#( )&9"<"-2"#(
-Q@"&#( )"( ">="<&\-?&'I( 3#( <"#%52')3#( )3#( 2"#2"#( 93<'+I(
%+'(@";(+'&#I(63+3,A-"3#E(
M3+3(?3-?5%#G3I(A(=3##Q@"5(3/#"<@'<($%"(3#(%2&5&;')3<"#(
+'&#( -3@3#( ?5'##&9&?'+( +"563<( 3#( -3@3#( ='<')&,+'#()"(
"#="?&9&?'CG3( )"( ="#$%&#'#E( o3("-2'-23I()"@&)3(N(63+3B(
,"-"&)')"()'#(<"#2'-2"#(<"#=3#2'#(3/2&)'#I(A(2'+/A+(=3#B(
#Q@"5( ?3-?5%&<( $%"( 3#( )&9"<"-2"#( %2&5&;')3<"#( 2\+( =<"9"B(
<\-?&'#( +%&23( #"+"56'-2"#I( -G3( #"-)3( =3<( &##3( =3##Q@"5(
"#2'/"5"?"<( ,<'-)"#( )&9"<"-?&'CD"#( $%'-23( '3#( ="<9&#( "(
<"#="?2&@'#(?'<'?2"<Q#2&?'#E(
o3(?'#3()'#(="#$%&#'#(2">2%'&#I(A(=3##Q@"5(&)"-2&9&?'<($%"(
3(-m+"<3()"(2"<+3#(=3<(="#$%&#'(AI("+(+A)&'I()"(J(2"<B(
+3#I(3($%"(?3-9&<+'(3(@'53<('=<"#"-2')3("+(Wi=&-jPPY("(
Wl'-#"-PPY( -3#( $%'&#( #"( <"9"<"( $%"( 3( @'53<( +A)&3( A( )"(
)3&#( 2"<+3#( =3<( ="#$%&#'E( p&?'( 2'+/A+( ?3-9&<+')3( $%"(
3#(%2&5&;')3<"#I("+(,"<'5I(@\"+('="-'#('(=<&+"&<'(=F,&-'(
)"(<"#%52')3#E( !3<( 3%2<3( 5')3I( A( 2'+/A+(=3##Q@"5(3/#"<B(
@'<( $%"( 3#( %2&5&;')3<"#( -G3(%2&5&;'+('#(9%-CD"#('@'-C'B(
)'#()"(="#$%&#'("(%2&5&;'+($%'#"(#"+=<"(='5'@<'#B?6'@"(
K=3<( ">"+=530( b+3-2'-6'( -"@"cL( "+()"2<&+"-23()'(5&-B(
,%',"+(-'2%<'5(K">E0(b+3-2'-6'#(?3+(-"@"cLE(o"#2"(2&=3(
)"( ="#$%&#'#I( 3#( %2&5&;')3<"#( "#2G3I( "+( ,"<'5I( #'2	"&23#(
?3+('#(&+',"-#(<"23<-')'#E(
o3( ?'#3( )'#( ="#$%&#'#(@&#%'&#I(3#(%2&5&;')3<"#()"+3<'+(
+%&23( 2"+=3( ='<'( 3/2"<( <"#%52')3#( <"5"@'-2"#I( "( "+(
+A)&'(A(-"?"##F<&3()"#"-6'<(?"<?'()"(2<\#(&+',"-#(='<'(
"-?3-2<'<( 3#( <"#%52')3#( =<"2"-)&)3#E( :( -m+"<3( )"( ="#B(
$%&#'#("9"?2%')'#("(3(2"+=3(-"?"##F<&3(='<'("-?3-2<'<('#(
&+',"-#( "#2G3( )&<"?2'+"-2"( <"5'?&3-')3#( ?3+( '( '&-)'(
)&9&?%5)')"()"#2"(2&=3()"(#"+'#("+("-?3-2<'<(&+',"-#(
<"5"@'-2"#E(
8="#'<()3(<"?3-6"?&+"-23(=3<(='<2"()3#(%2&5&;')3<"#($%"(
"+('5,%+'#(#&2%'CD"#('(="#$%&#'(2">2%'5(-G3(A(#%9&?&"-2"(
='<'(#'2	';"<('(#%'(-"?"##&)')"()"(&-93<+'CG3I(3#(<"#B(
2'-2"#( ='<')&,+'#( '&-)'( -G3( 39"<"?"+( %+'( '52"<-'2&@'(
"9&?';( "I( ?3+3( 2'5I( #G3( )"#?'<2')3#( ="53#( %2&5&;')3<"#E(
R"@"+( -3( "-2'-23( #"<( 93<-"?&)3#( ?3+3( ?3+=5"+"-23( N(
="#$%&#'( 2">2%'5I( #"-)3( '="-'#( %2&5&;')3#( $%'-)3(3( =<&B(
+"&<3(='<')&,+'(9'56'("+(2"<+3#()"(&+',"-#(<"5"@'-2"#E(
aG* EJKIcI,EK(
M3+( @'( '( )'<( ?3-2&-%&)')"( '3( "#2%)3( "9"?2%')3I( 93&(
?3-#2<%Q)3(%+(=<32H2&=3()"(%+'(&-2"<9'?"($%"(2"-2'('=<"B(
#"-2'<(%+'(=3##Q@"5(<"#35%CG3()"('5,%+'#()'#()&9&?%5)'B(
)"#( '=<"#"-2')'#( ="53#(%2&5&;')3<"#E(1#2"(=<32H2&=3(%2&5&B(
;'I(?3+3('/3<)',"+(=<&+F<&'I(%+'("#="?&9&?'CG3(2">2%'5(
)'(="#$%&#'(Kp&,%<'(dL("(A(?3+=5"+"-2')3(?3+('("#="?&B(
9&?'CG3()"(="#$%&#'#('2<'@A#()"(&+',"-#(">"+=53 Kp&,%<'(
nL(3%('2<'@A#()"(%+("#/3C3(Kp&,%<'(^LE(
4+'(@";($%"(3#(%2&5&;')3<"#("#2G3 ,53/'5+"-2" #'2	"&23#(
?3+( '( "#="?&9&?'CG3( 2">2%'5( )'#( ="#$%&#'#( -3( #"+'(
X33,5"( *+',"#I( '( &-2"<9'?"( ?3-#2<%Q)'( -3( =<32H2&=3( -'(
'/3<)',"+(2">2%'5(A(#"+"56'-2"E(
p&,%< '(d0(*-2"< 9'?"()"(="#$%&#'(2">2%'5("(*-2"< 9'?"()"(
< "#%52')3#()'(="#$%&#'E(
o3(?'#3()'#(="#$%&#'#('2<'@A#()"(%+'(&+',"+(">"+=53I(
'(&+=5"+"-2'CG3(A(2'+/A+(/'#"')'(-'(&-2"<9'?"(%2&5&;'B(
)'(-3(#"+'(q"2<&"@<(?3+('5,%+'#()&9"<"-C'#(-'(3<,'B(
-&;'CG3()3#(<"#%52')3#(3/2&)3#E
p&,%< '(n0(*-2"< 9'?"()"(="#$%&#'(=3< (&+',"+()"(">"+=53E(
8( ="#$%&#'( =3<( "#/3C3( AI( -3( "-2'-23I( /'#2'-2"( )&9"<"-2"(
)'( %2&5&;')'( -3( q"2<&"@<E( 8#( '52"<'CD"#( "9"?2%')'#(
<"#="&2'<'+('#(#%,"#2D"#("9"?2%')'#(="53#(%2&5&;')3<"#(-'(
&-?5%#G3( )"( +'&#( 3=CD"#( )"( )"#"-63E( M3+3( 2'5I( 93<'+(
')&?&3-')'#(@F<&'#(3=CD"#(='<'(3()"#"-63()3("#/3C3I(2'5(
?3+3(#"(=3)"(3/#"<@'<(-'(p&,%<'(^E(
p&,%< '(^0(p3< +%5F< &3(='< '()"#"-6'< (3("#/3C3('(="#$%&#'< E(
o'( &-2"<9'?"( )'( =F,&-'( )"( <"#%52')3#( 93&( &-2<3)%;&)3( 3(
?3-h%-23( )"('52"<'CD"#( +'&#( #&,-&9&?'2&@3(#%,"<&)3(="53#(
%2&5&;')3<"#E( !'<'( "@&2'<( ='##3#( )"#-"?"##F<&3#( ='<'( '(
3/2"-CG3( )"( %+'( &+',"+( "+( 2'+'-63( <"'5I( $%'-)3( #"(
#"5"??&3-'('(&+',"+(+&-&'2%<'(3/2A+B#"(&+")&'2'+"-2"(
'(&+',"+(3<&,&-'5I("@&2'-)3(3(='##3(&-2"<+A)&3E(M'#3(3(
%2&5&;')3<(#"5"??&3-"(3(4qe()3(#&2"($%"(#"("-?3-2<'(=3<(
/'&>3( )'( &+',"+( K@"<( p&,%<'( TLI( "-2G3( 3( %2&5&;')3<( A(
<")&<"??&3-')3(='<'(3(#&2"(3-)"('(&+',"+(#"(53?'5&;'E(
:%2<'('52"<'CG3("9"?2%')'(?3-#&%(-'(<")%CG3()3(-m+"B(
<3()"(&+',"-#(<"23<-')'#I()"(+3)3('("@&2'<(3(#?<355()'#(
=F,&-'#( )"( <"#%52')3#E( p3&( 2'+/A+( ')&?&3-')3( %+(
="$%"-3( Q?3-"( )"( %+'( 5%='( '( ?')'( &+',"+( <"23<-')'(
K@"<(p&,%<'(TLI()"(+3)3('(="<+&2&<($%"('=H#(3(%2&5&;')3<(
2"<( "9"?2%')3( %+'( ="#$%&#'( 2">2%'5I( =3##'( %2&5&;'<( %+'(
)'#(&+',"-#(='<'("9"?2%'<(%+'(="#$%&#'(=3<(&+',"+()"(
">"+=53E(
p&,%< '(T0(4+'(="$%"-'(5%='('3(5')3()"(?')'(&+',"+(
< "23< -')'(="< +&2"(%2&5&;FB5'(?3+3(&+',"+()"(">"+=53E(
CG* 5KH5:8DdOD*O*IJQTQ:eK*28I8JK(
o"#2"('<2&,3('=<"#"-23%B#"(%+("#2%)3()"(%#'/&5&)')"($%"(
"-@35@"%('('-F5&#"()'#(&-2"<<3,'CD"#("('(3/#"<@'CG3()3#(
%2&5&;')3<"#( -'( %2&5&;'CG3( )"( #"+'#( )"( ="#$%&#'( )"(
&+',"-#( -'( ."/E( :( =5'-3()"('@'5&'CG3(=<3=3#23("-@35B(
@"%('("5'/3<'CG3()"(=<A("(=H#($%"#2&3-F<&3#("("-2<"@'#(
?3+(,%&G3('(SP(%2&5&;')3<"#(?3+()&9"<"-2"#(="<9&#()"(%2&B(
5&;'CG3E(8="#'<( )'('+3#2<'()"(%2&5&;')3<"#(-G3(#"<("#2'B(
2&?'+"-2"( #&,-&9&?'2&@'I( 3( "#2%)3( <"'5&;')3( ="<+&2&%(
)"2"?2'<('#(=<&-?&='&#()&9&?%5)')"#()3#(%2&5&;')3<"#()"#2"#(
#"+'#E(8('-F5&#"()3#(<"#%52')3#(<"@"53%($%"(3#(%2&5&;'B(
)3<"#(=<"9"<"+("9"?2%'<(="#$%&#'#(2">2%'&#("(%2&5&;'+("+(
+A)&'(J(2"<+3#(=3<(="#$%&#'E(:(<"?%<#3 '(3%2<3#(+A23)3#(
)"( "#="?&9&?'CG3( )'( ="#$%&#'( K=3<( "#/3C3( 3%( &+',"+(
">"+=53L( '="-'#( A( %2&5&;')3( "+( ?'#3( )"( &-#%?"##3( )3(
+A23)3( 2">2%'5E( :( <"#%52')3( )3( "#2%)3( ="<+&2&%( '&-)'(
">2<'&<('#(=<&-?&='&#(&+=5&?'CD"#(-3()"#&,-()"(&-2"<9'?"#(
='<'(#"+'#()"(="#$%&#'()"(&+',"-#(-'(."/E(M3+(/'#"(
-"#2"#(&-)&?')3<"#(93&(<"'5&;')3(%+(=<32H2&=3()'(&-2"<9'B(
?"( )"( ="#$%&#'( "( )'( &-2"<9'?"( )'( =F,&-'( )"( <"#%52')3#(
?3+(3(3/h"?2&@3()"('=<"#"-2'<(%+'(=3##Q@"5(<"#35%CG3()"(
'5,%+'#()'#()&9&?%5)')"#(5"@'-2')'#(="53#(%2&5&;')3<"#E(
4+'( @";( $%"( 3#( <"#%52')3#( )'( '@'5&'CG3( )"( %+( #"+'(
"#2G3I( "+( ,<'-)"( ='<2"I( ?3-)&?&3-')3#( ="5'( #%'( ?'='?&B(
)')"( )"( <"23<-'<( '3( %2&5&;')3<( '#( &+',"-#( $%"("#2"(=<"B(
2"-)"I(A(2'+/A+(&+=3<2'-2"($%"(#"h'(9"&23(%+'('@'5&'CG3(
<&,3<3#'()'("9&?&\-?&'("("9&?F?&'()3#(+323<"#()"(/%#?'()"(
&+',"-#(-'(."/(/'#"')3#("+(="#$%&#'(=3<(?3-2"m)3I()"(
+3)3( '( ="<+&2&<( +"563<'<( '( $%'5&)')"( "( <"5"@k-?&'( )3#(
<"#%52')3#(3/2&)3#E(!3<(3%2<3(5')3I('(%2&5&;'CG3()3(=<32HB(
2&=3()"#"-@35@&)3(-%+(9%2%<3(2"#2"()"(%#'/&5&)')"(=3)"<F(
="<+&2&<( %+( 2"#2"( +'&#( "9&?&"-2"I( -3( $%'5( 3#( )&9"<"-2"#(
='<')&,+'#()"(="#$%&#'(%2&5&;'+('(+"#+'(&-2"<9'?"E(
>G* JO2OJfH5,QD(
W8#5'-)3,'-PPY(zE(8#5'-)3,'-I(ME(z%E(1@'5%'2&-,(
i2<'2",&"#('-)(iV#2"+#(93<(M3-2"-2(s'#")(*-)">&-,(
39(!"<#3-(*+',"#(3-(26"(."/E(!<3?"")&-,#(39(26"(
8M7(7%52&+")&'I(JPPPE(
WM6'-,OTY(1E(M6'-,("2E('5E(q*710(8(q"=5&?'2")(*+',"(
R"2"?23<(93<(26"(.3<5)B.&)"(."/E(!<3?"")&-,#(39(
26"(i!*1(iV+=3#&%+(39(y3&?"I(y&)"3('-)(R'2'(M3+B(
+%-&?'2&3-#I(==E(dTBn^I(SOOTE