примењена лингвистика данас – између теорије и праксе

!"#$%&'()*(+",-./.0#(1,02&,3%,4#(3"5,6.
7,1')'734,(7*4#1%.%(#(0'&'-(3*!#
7,1'1'$4,(7*4#1%.%(#(5.'2"*!#
+",-./.0*(1,02&,3%,4*(!*0*3(8((
,)-.9#(%.'",6.(,(+"*43.
):;?(

QRRSTUQVUSW(XY(ZUW[\URVU]\Y(Q^^ZU]\_Y(XY(RY`aUY
bQT\ZV_(XYR(ZYVV`YR(XY(WScU(RQX
bQT\ZV_(XY(^dUZSZS[UY(XY(aYZ[`QXY
ZUW[\URVU]\Y(Q^^ZU]\_Y(Q\eS\`Xfd\U(8((
YWV`Y(ZQ(Vd_S`UY(YV(ZQ(^`QVU]\Y
Qghij(kl(UUU e (Tmnopqj
89:;9?

!"#$%&'()*(+",-./.0#(1,02&,3%,4#(3"5,6.
7,1')'734,(7*4#1%.%(#(0'&'-(3*!#
7,1'1'$4,(7*4#1%.%(#(5.'2"*!#
+",-./.0*(1,02&,3%,4*(!*0*3(8(,)-.9#(%.'",6.(,(
+"*43.
):;?(z@($CB>DP(#=>BCÇCÇ(N(0;B;O(3@AN
->zC=@(6;B@=;B>DP((#=>BCÇCÇ(N(5C;E~@(+CDP(#=>BCÇCÇ(ÜBCÇCÇ(N(0;B;O(3@ANP(ÇCÑ=>}?>(FC?

+}P(#=>BCÇCÇ(N(ÄN:Å@=>P(3z;BC=>Ö@
+BCÇCÇ(N(+@P(,Ç@z>Ö@
'AÖF?>(FN(y;O;Ez>(->=>FÇ@(
ÇCÑ=;z;|?>(

QRRSTUQVUSW(XY(ZUW[\URVU]\Y(Q^^ZU]\_Y(XY(RY`aUY
bQT\ZV_(XYR(ZYVV`YR(XY(WScU(RQX
bQT\ZV_(XY(^dUZSZS[UY(XY(aYZ[`QXY
ZUW[\URVU]\Y(Q^^ZU]\_Y(Q\eS\`Xfd\U(8(YWV`Y(ZQ(Vd_S`UY(YV(
ZQ(^`QVU]\Y
Qghij(kl(UUU e (Tmnopqj
89:;9?

Zi(ôsnsjhqpi(ki(îr(Rgsingi(ih(kl(Xtuiîmññivinh(Vigónmîmosúli(ih(îi(Rigpthrpsrh(
`tosmnrî(ki(îr(Rgsingi(ih(kl(Xtuiîmññivinh(ki(cmùumksni(mnh(ûnrngsqpivinh(
jmlhinl(îi(TmnopqjJ
Rñmnjmpj(kl(Tmnopqj{(U9=@GP(õpinìrnsnP(VGWAXR9)Q9:F;GAH9P(cpérgP(V9:AG9EA)
UAE9CFP(Rpivjès(ürpîmugsJ
URaW((IâäLäãLãMãåLKKçLä
ã

!"#$%"&'(')*+,-'.-/'0*)123-/'('/400*35
$67'896:;('?@ABC@AD'EFGD'HAD'IHJGA@KD('LAM'AHJGFKDN'MFKHD''
1O'PQRS$"!STUR"'"R"VTW"'('*X*,5/-'YZX)3*/)1[-'('
YZX)3*/)1[-'*X*,5/1/
1. ASTRID GROSZLER ­ BILJANA IVANOVSKA
SW(VdY(`SôQWUQW(Y]\UcQZYWT†(Sb(^ZQWV(UXUSôR(UW(
YW[ZURd(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Kâ
2. BILJANA IVANOVSKA ­ ASTRID SIMONE GROSZLER
QWUôQZ(UXUSôR(UW([Y`ôQW(QWX(VdYU`(ôQTYXSWUQW(
Y]\UcQZYWVR((JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Hâ
!"# $%&'&(&#)*+,-&#.#/01&(&#2,3)*-4)&
1.43,°4,%.(0.2*Ü,,(&'(-*4.!'034,'%P(
2."-*034,'%(,(*021,34,'%(6*),4(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ çâ
5"# 67897#:;6;98;;?
Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(
UW(VdY(TQRY(Sb(RY`aUQW(ZK£YW[ZURd(ZH(R^YQüY`R((JJJJJJJJJJJJJ §å
@"# 6;A7=B7#B7CD>;?#
VdY(UWbZ\YWTY(Sb(VdY(XU`YTV(SaeYTV(SW(QR^YTV(QWX(
QüVUSWRQ`V(UW(YW[ZURd(QWX(`SôQWUQW(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ ãK
6. MIHAELA MUNTEANU SISERMAN
ôQ`]\Y\`R(TSd_RUbR(Q\(WUcYQ\(X\(VY¢VYLXURTS\`R{(
ZQ(`YZQVUSW(QWQ^dS`U]\YJ(\WY(Q^^`STdY(TSWV`QRVUcY(
YWV`Y(ZY(b`QW•QUR(YV(ZY(`S\ôQUW(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ âK
â

E"# :FG7HI7#C>=I;?#:FG7HD>;?
üSWV`QRVUcWS(S(`YYWUTQôQ(VU^Q(YZ)[Z)YT\](£((
YZ)^T)[Z)YT\](JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ äK
J"# K7H=B7#6=G;?
XUY(cY`[ZYUTdR^Q`VUüYZ(_`](\WX(Ud`Y(ß]\UcQZYWVY((
Uô(aSRWURTdYW(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ IK
L"# =86;HI7#C;B;?
®YUWõYZ[ßW[Y`®(UW(XY`(XY\VRTdYW(R^`QTdY(\WX(XUY(
YWVR^`YTd\W[YW(Uô(aSRWURTdYWL(\WVY`R\TdV(Qô(
aYUR^UYZ(cSW(a]`)]a)L(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ KMç
11O'V\P!TPQVQ]T&"'T'V\P!TPQ]$"^T&"(',-_1YZ,Z`1-'-)'
,-_1YZ`3*ab1-'(',-_1YZ,Z`5'*X.',-_1YZ`3*ab5'
M"# :D6H;N7#9D6=KOF#
(ZfYô^`\WV(XYR(WSôR(TSôôY`TUQ\¢(QW[ZQUR(XQWR(
ZfSWSôQRVU]\Y(`S\ôQUWY(QTV\YZZY(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ KKâ
P"# K>=9B7H7#7#HU6=9A#IDHO
Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(
XYWSVUW[(QWUôQZ(RS\WXRJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ KåK
111O'c\SQ#TP"'R"!S"U\'('.1.*Y)1?4-'.-/',*X`4-/'
d)3*X`23-/'('LZ3-1`X',*X`4*`-/'.1.*Y)1Y/
M"# 6;8;?.BFID>;?#
VdQVfR(WSV(©dQV(U(RQUX(YüR^ZUTUVWSLUô^ZUTUVWQ(
üSWV`ScY`õQ(\(WQRVQcU(^`Q[ôQVUüY(YW[ZYRüS[(
eYõUüQ(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ Kãâ
ä

P"# >=KH7#V;B;VD>;?
X\[S`SWSRV(YbYüQVQ(RQc`YôYWS[(^`URV\^Q(Sa`QXU(
[`QôQVUüY([`Q´Y(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ KIç
!"# ;>7H7#6789;HD>;?
^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(
RV`QWS[(eYõUüQ(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ HMç
5"# 4&($%&#43,W&(*-0T
*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*(
#°.0,4*(3".!/,á($4'1*((JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ HKI
@"# X0R0+&#/&R30T
4",%.",6#-,()*('!*5,"(%&(".41*-*(,(/,á'&*(
+"*4%,°0*(+",-.0*(#(0*3%*&,(3%"*0'2(6.),4*(JJJJJJ Hçå
6. DARJA MERTELJ
RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(
UVQZUQW(TSô^ZY¢LTZQ\RY(R†WVQ¢(VS(RZScYWUQW(
ZYQ`WY`R(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ H§â
E"# B

MM"#(&3&_&#%&$[40(./&%$0T
3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*((
#("*)1,°,%,-(6.),°4,-(0,&',-*((
7"*0Ü#34'2(6.),4*(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ çKâ
MP"#Z&-*%)&#X&%0()*-0T
1,02&'3%,1,3%,°4,(+",3%#+(+",('5"*!,((
$4'134.(1.4%,".(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ 331
M!"#0-&(&#40X*-1,-0T
%.$4'Æ.(#(%#-*°./#(1.43,4.(0*"'!0.(%"*!,Ü,6.((
#(1.4%,",((0,Ø,á("*)".!*('30'&0.($4'1.(JJJJJJJJJJJJJJJJ 343
1[O'&\WTP'!S$eP\'(',*X`4-'.-'/adY1*,1)d'(',*X`4*`-'LZ3'
/a-Y1*,'a43aZ/-/
M"# &B;H7.7H:8==7#:87`D=KOF
VdY(ZQW[\Q[Y(Sb(^SZUVUTQZ(TS``YTVWYRR((
UW(a\RUWYRR(YW[ZURd(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ çåç
KM
P"# 6=B;H7#H;IDB;?
Q(^`Q[ôQVUT(b`QôY©S`ü((
bS`(VdY(YR^(cSTQa\ZQ`†(QT]\URUVUSW(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ çãç
!"# 0-&(&#S*%0+&
-'%,&*Ü,6*(3%#!.0*%*(.4'0'-34'2(,(%#",3%,°4'2(
#3-."./*()*(#°./.(3%"*0'2(6.),4*(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ çâå
5"# 6;BDG#:"#aF8;?
QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY((
Sb(YZYTV`UTQZ(YW[UWYY`UW[(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ çäç
@"# :87`7H7#>FID>;?#>D;?
‘LOW BUDGET’ AND ‘HIGH SEASON’ – DELVE INTO THE
b>7K9#DO=7Hc#Dd#ODBBDO79;DHK#8=B79=:#
9D#9A=#B7H`F7`=#Dd#9DF8;K6 ................................................ 397
e"# H797G7#Y;I;OI;
cUöYZQWU([ZQ[SZU(\(ZUVY`QV\`U(Uõ(SaZQRVU((
^SRZScQWeQ(WQ(YW[ZYRüSô(eYõUü\(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ §Mâ

E"# YD;?#.KB7>;O7#6;9;?##V7DB;BBD#.#H=>=H7#K97;?
\ZS[Q(UWRV`\ôYWVQZWY(ôSVUcQTUeY((
\(\YWe\(RV`QWS[(eYõUüQ(RV`\üY(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ §Kâ
J"# H;HDKB7>7#87:;?
6D8dDBDGI7#V8;B7`Da=HDK9#;6=H;fI;A#7H`B;O;C767#
U EKONOMSKOM REGISTRU SRPSKOG JEZIKA ....................... 425
L"# $&R0/*%)&#/&R*%$&
7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(
3".!/'$4'134'-(#5.0,4#(.4'0'-34.(3%"#4.(JJJJJ 441
[O'Q$]"RTW"fT&"'R"!S"U\('Z3`*X1/*)1ZX'.-'
,N-X/-1`X-0-X)'(')-*Yb1X`'Z3`*X1/*)1ZX
M"# KDd;

[1O'PgT%\URQ!S'T'h$\UQi\g\'(',1))d3*)43-'-)'
)3*.4Y)1ZX'(',1)-3*)43-'*X.')3*X/,*)1ZX
M"# ;>7H7#aF8;?.V7FHD>;?#.#CD8;O7#a=8`D>;?#;?
WQ´YWS(\(^`YcSX\{(ôQ^U`QWeY(RSTUSü\ZV\`WS[(
üSWVYüRVQ(\(WQRVQcU(üWeUYcWSRVU(U(^`YcS´YWeQ(JJJJJ åçK
P"# 7H7#;>7H:=I;?#
^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(
eYõUü\(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ åçI
!"# $%&'()*+,)#-./),0)*
QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(
SaeQcZeYWUd(\(R`aUeU(SX(KIIM(XS(HMMH([SXUWY(JJJJJJJJJJJJJJJJJJJ ååâ
5"# $0&(&#2%*$&(*-0T.43&()0T#
Q0*1,)*(&."5*10'2(á#-'"*(0*(+",-."#(7,1-34,á(
!,6*1'2*(#(4'-.!,6,(Ü"0,(2"#6*((,(4*-.0(
-#!"'3%,¥(".Ø,3."*(-*"4*(-*",04'&,Æ*((JJJJJJJJJJJJJJJ åâK
@"# O786=H#:h8hYFi
dY`ôYWY\VUTµ(^RUdSZUW[cURVUTµJ(ôUZS`QX(^QcU±P(
^Q`VYQ(XUWZµV\WV`\(Q(cWV\Z\U(JJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJJ åäK
KH

$67'896:;
%(?;=E( F@( ?;=E?C(3ÖCP(+;?=F?;O(FC?(ÇCÑ=;z;|?>(=CP(?@;(>(Fy;=;O@(?;Ö>(FN(;O;END>z>(NFyC|@=(

Vói(UUU(Tmnopijj(mò(TBBC9@H)89:;9b=)[FHAe)1)f@>g@@:)>J@FGe)A:H)BGAb>9b@P(
mpornsik(wï(hói(Qññîsik(Zsnolsjhsgj(Qjjmgsrhsmn(mò(RipwsrP(brglîhï(mò(^ósîmjmL
ñóï(sn(Wmus(Rrk(rnk(brglîhï(mò(^ósîmîmoï(sn(aiîoprkiP(rj(óiîk(rh(hói(brglîhï(mò(
^ósîmjmñóïP(\nsuipjshï(mò(Wmus(RrkP(òpmv(hói(HI hó (Wmuivwip(hm(hói(K st (Xigivwip(
HMMIJ(ôrnï(lnsuipjshï(ñpmòijjmpjP(pijirpgóipjP(^óX(jhlkinhj(rnk(mhóip(iñiphj(
snhipijhik(sn(hói(jgsingi(mò(îrnolroi(rnk(shj(svñîivinhrhsmnP(gmvsno(òpmv(Hç(
gmlnhpsijP(rhhinkik(hói(TmnopijjJ(Vói(ñrñipj(ipi(ksuskik(snhm(hópii(sjjlij(mò(
TBBC9@H)89:;9b=(¨KMP(KK(rnk(KH(òmp(hói(ïirpj(HMMIP(HMKM(rnk(HMKK(rnk(^pmL
giiksnoj(mò(TmnopijjJ
Vói(mpornsipj(sjó(hm(hórnè(hói(ôsnsjhpï(mò(Rgsingi(rnk(Vigónmîmosgrî(XiuiîmñL
vinh(mò(hói(`iñlwîsg(mò(RipwsrP(hói(^pmusngsrî(Rigpihrpsrh(mò(Rgsingi(rnk(VigóL
nmîmosgrî(Xiuiîmñvinh(mò(hói(Q^(mò(cmìumksnr(rnk(jñmnjmpj(òmp(hóisp(jlññmph(sn(
mpornssno(hói(Tmnopijj(rnk(sn(hói(ñlwîsgrhsmn(mò(hói(ñrñipjJ
( ( ( ( ( ( Ykshmpj
( ( ( ( ( ( ^pmòJkp(Xlérnèr(Vmêrnrg
( ( ( ( ( ( ^pmòJ(kp(Rniërnr([lklpsí
14

I
4 ' 0 % "* 3 % , & 0 * ( * 0 * 1 , ) *
QWQZ† RY(TSWV`QRVUcY
T S W V ` Q R V U c Y ( Q W Q Z† RUR
Kå

Kã

ASTRID GROSZLER
BILJANA IVANOVSKA
ZX')b-'3Z0*X1*X'-?41[*,-XY5''
ZL'a,*X)'1.1Z0/'1X'-X`,1/b
Vósj( ñrñip( piumîuij( rpmlnk( hói( rnrîïjsj( mò( Ynoîsjó( ñîrnh( sksmvj( rnk( hóisp( `mvrnsrn(
gmlnhipñrphj(ijhrwîsjósno(hói(îiuiî(mò(iúlsurîingïP(mp(nmnLiúlsurîingï(sn(jmvi(grjijJ(Un(
mpkip(hm(jlggiik(sn(mlp(rhhivñh(i(wpsno(òmphó(hóimpihsgrî(snñlh(mn(sksmvj(rnk(iúlsurL
îingï(rj(r(ñpmgijj(mò(hprnjîrhsmnJ(©i(rîjm(ióswsh(r(gîirp(muipusi(mò(hói(mwjipuik(sksmvj(
wï(lnkiphrèsno(r(piñmph(rnrîïjsjJ
Y@egFGH='k'UksmvP(YúlsurîingïP(ñîrnh(nrviJ
lO'1X)3Z.4Y)1ZX
lOlO'1HJFED
Vói(ñlpñmji(mò(hósj(ñrñip(sj(hm(mwjipui(hói(rï(sn(ósgó(Ynoîsjó(ñîrnh(sksmvj(
rpi(piñpijinhik(sn(hói(`mvrnsrn(îrnolroiJ(aï(hórh(i(virn(hm(mwjipui(nmh(ìljh(
óihóip(mp(nmh(Ynoîsjó(ñîrnh(sksmvj(órui(r(`mvrnsrn(iúlsurîinhP(wlh(rîjm(óm(
vrnï(mò(hóiji(iúlsurîinhj(mwjipui(hói(gómsgi(mò(hói(ñîrnh(nrvi(snjhirk(mò(ìljh(
osusno(r(jivrnhsg(iúlsurîinhJ(Slp(pijirpgó(mn(ñîrnh(sksmvj(rnhj(hm(gmnhsnli(hói(
iòòmph(i(órui(lnkiphrèin(sn(rn(irpîsip(ñrñipP(nrviîï(Z:)>J@)hFPA:9A:)]?

T=>G9H)jGF=kC@Gl)U9CEA:A))`QA:FQ=RA
lOmO'-C@JnoBApqr
Qòhip(jóikksno(jmvi(îsoóh(lñmn(hói(hipv(sksmvP(i(sjó(hm(hlpn(mlp(rhhinhsmn(
hm(AC@JnoBApqrJ(Un(arèip(¨HMMK{(ââP(i(ûnk(r(kiûnshsmn(mò(iúlsurîingï(rj(¥hói(
piîrhsmnjósñ(mò(r(jmlpgi(hih(¨RV(rnk(r(hrpoih(hih(¨VV(hórh(rîîmj(hói(VV(hm(wi(r(
hprnjîrhsmn(mò(hói(RV(sn(hói(ûpjh(ñîrgiJ(Yúlsurîingi(piîrhsmnjósñj(rpi(rîjm(jrsk(hm(
ómîk(wihiin(ñrphj(mò(RVj(rnk(ñrphj(mò(VVjJ(ªº(iúlsurîingi(sj(gmvvmnîï(ijhrwL
îsjóik(mn(hói(wrjsj(mò{(hói(jmlpgi(îrnolroi(¨RZ(rnk(hrpoih(îrnolroi(¨VZ(mpkj(
jlññmjikîï(piòippsno(hm(hói(jrvi(hósno(sn(hói(pirî(mpîkP(sJiJ(mn(hói(wrjsj(mò(hóisp(
piòipinhsrî(mp(kinmhrhsui(iúlsurîingiæ(hói(RZ(rnk(VZ(mpkj(hpsooipsno(hói(jrvi(
mp(jsvsîrp(rjjmgsrhsmnj(sn(hói(vsnkj(mò(nrhsui(jñirèipj(mò(hói(hm(îrnolroijP(sJiJ(
hóisp(gmnnmhrhsui(iúlsurîingiæ(hói(RZ(rnk(VZ(mpkj(wisno(ljik(sn(hói(jrvi(mp(
jsvsîrp(gmnhihj(sn(hóisp(pijñighsui(îrnolroijP(sJiJ(órh(ümîîip(¨KIäI{(KMH(grîîj(
hihLnmpvrhsui(iúlsurîingiæ(hói(RZ(rnk(VZ(mpkj(órusno(hói(jrvi(iòòigh(mn(hóisp(
pijñighsui( pirkipjP( sJiJ( ñprovrhsg( ¨ümîîip( KIäI{( KMH( mp( kïnrvsg( iúlsurîingi(
¨Wskr(KIã§æ(hói(RZ(rnk(VZ(mpkj(órusno(jsvsîrp(mphómoprñósg(mp(ñómnmîmosgrî(
òirhlpijJø(
Qj(sn(hói(grji(mò(rnsvrî(sksmvjP(óin(piòippsno(hm(ñîrnh(sksmvjP(hói(gmngiñh(
mò(GAsG@oB'AC@JnoBApqA(vljh(gmvi(lñP(kiûnik(rj(hói(gmvwsnrhsmn(mò(jsvsîrpsL
hsij(sn(RV(rnk(VV(snòmpvrhsmn(¿m(rnk(hói(gmóijsui(pmîij(mò(RV(rnk(VV(kiusgij(
sn(hóisp(pijñighsui(hihjJ(©i(vrï(jñirè(mò(òlnghsmnrî(iúlsurîingi(óin(i(kirî(
shó(hói(hprnjîrhmpfj(kigsjsmn(rj(hm(ósgó(gmnjskiprhsmn(hm(wi(hrèin(snhm(rggmlnh(
rh(rnï(hsviJ
mO'YZ3a4/'*X*,5/1/
mOlO'0oGAKJoBD'opH'EAGtFH'
©i(órui(snuinhmpsik(KHM(Ynoîsjó(sksmvj(gmnhrsnsno(nrvij(mò(ñîrnh(ñrphj(mp(
hïñijP(hpiijP(¿mipjP(òplsh(rnk(uioihrwîij(orhóipik(òpmv(Ynoîsjó(îrnolroi(rnk(
jñigsrîsjik(ksghsmnrpsijJ(bspjh(i(órui(snhpmklgik(hói(hipvj(sksmv(rnk(iúlsurL
îingïP(hóin(i(órui(îmmèik(òmp(hói(`mvrnsrn(gmlnhipñrphj(mò(hói(Ynoîsjó(sksmvj(
rnrîïjsno(hóisp(iúlsurîingï(rnk(òpiúlingïJ
Kä
mOmO'3AD@BGD
Vói(sksmvj(i(órui(rnrîïjik(sngîlki(ñîrnh(ñrphj(mp(hïñijP(hpiijP(¿mipjP(òplsh(
rnk(uioihrwîi(sksmvjJ(©i(órui(rîjm(mwjipuik(hórh(jmvi(sksmvj(ksjñîrïsno(ksòòipL

SW(VdY(`SôQWUQW(Y]\UcQZYWT†(Sb(^ZQWV(UXUSôR(UW(YW[ZURd
inh(ñîrnh(nrvij(wirp(sn(òrgh(hói(jrvi(virnsnoJ(Qîjm(jmvi(sksmvj(vrï(ñpijinh(
mni(mp(vmpi(urpsrnhjJ(^óïjsmîmosgrî(mp(òlnghsmnrî(òirhlpij(mò(hói(ñîrnhj(rnk(ñîrnh(
ñrphj(rpi(ñlh(hm(ksjñîrï(sn(hói(òmîîmsno{(fGA:bJ)F)m9:>F)=FP@>J9:;n(¨®hm(ksuipL
jsòï( rnk( om( snhm( ni( rpirjfP( fGA:bJ) Fii) miGFP) =FP@>J9:;n) S) fGA:bJ) F) miGFP)
=FP@>J9:;n)¨®hm(jiñrprhi(mòò(òpmv(jmvihósnoæ(hm(ksuski(rrï(òpmv(jmvihósnofP(
=JAR@)C9R@)A)C@Ai)¨®Vm(jórèi(r(îmh(wigrlji(ïml(rpi(nipumlj(mp(òpsoóhinikfP)GFF>)Fi)
>J@)BGFfC@P)¨®rn(lnkipjhrnksno(mò(hói(grljij(mp(wrjsj(mò(r(ñpmwîivfP)GFF>@H)>F)
=FP@>J9:;(¨®ªmò(jmvimni(ûpvîï(rhhrgóik(hm(jmvihósnofP)GFF>@H)>F)>J@)=BF>(¨®lnL
rwîi(hm(vmui(wigrlji(mò(òirp(mp(jlpñpsjifP(`HC@:@==)9=)>J@)GFF>)Fi)ACC)@Q9C(¨®Uò(ïml(
órui(nm(ljiòlî(mpè(hm(kmP(ïml(sîî(hósnè(mò(órpvòlî(hósnoj(hm(km(sn(mpkip(hm(
rvlji(ïmlpjiîòfP(oF:@e)9=)>J@)GFF>)Fi)ACC)@Q9C(¨®^imñîi(km(vrnï(iusî(hósnoj(sn(
mpkip(hm(oih(psgófP(GFF>)=FP@F:@)FG)=FP@>J9:;)F)Fi)=FP@>J9:;(¨®Vm(jiiè(rnk(
pivmui(jmvimni(mp(jmvihósno(òpmv(jmvihósno(mp(jmvi(ñîrgiæ(hm(jiiè(hm(ksjL
gmuip(mp(wpsno(jmvihósno(hm(îsoóhfP)B)GFF>=)HFg:)m=FP@)BCAb@n(¨®Vm(jihhîi(kmn(
jmvióipiæ(hm(vrèi(r(ñîrgi(mnifj(ñipvrninh(ómvifP)GFF>)=FP@>J9:;)9:)=FP@­
>J9:;(¨®Vm(jhrph(r(ñîrnh(opmsno(pmmhj(sn(jmvihósnofP(GFF>)=FP@>J9:;)F(¨®Vm(oih(
psk( mò( jmvihósno( gmvñîihiîïæ( hm( kijhpmï( jmvihósno( hm( shj( pmmhj( mp( gmpifP( GFF>)
=FP@>J9:;))AGFJ9:;n(¨®Vm(kso(mp(jólò¿i(sn(mp(hópmloó(jmvihósnoP(
îmmèsno(òmp(jmvihósnofP(GFF>)iFG)=FP@F:@)FG)=FP@>J9:;(¨®Vm(góiip(rnk(ingmlpL
roi(jmvimni(mp(jmvihósnofP)GFF>@H)9:)=FP@>J9:;(¨®wrjik(mn(jmvihósnoæ(gmnL
nighik(hm(r(jmlpgi(mp(grljifP(>AR@)GFF>(¨®Lit.(ªòmp(r(ñîrnh(hm(kiuiîmñ(pmmhj(sn(jmsî(
mp(jmvi(mhóip(opmsno(vikslvæ(Fig.(hm(wiosn(hm(hrèi(ómîk(mp(órui(iòòighfP(GFF>)
A:H)fGA:bJ(¨®górnoik(mp(pivmuik(gmvñîihiîï(wigrlji(sh(sj(wrkfP(>J@);GA==)GFF>=(
¨®hói(mpksnrpï(ñimñîi(sn(r(jmgsihï(mp(ñmîshsgrî(mpornsrhsmn(rnk(nmh(hói(îirkipj(
¨mòhin(¡(FifP(T=)>J@)>g9;)9=)f@:>l)=F)9=)>J@)>G@@)9:bC9:@H(¨®Q(opmn(ñipjmn(sîî(rgh(
hói(rï(ói(mp(jói(rj(hrloóh(hm(rgh(rj(r(gósîkfP)fAGR)J@)gGF:;)>G@@(¨®Vm(vrèi(
hói(pmno(gómsgiæ(hm(rjè(hói(pmno(ñipjmnæ(hm(òmîîm(hói(pmno(gmlpjifP)bA::F>)
=@@)>J@)gFFH)iFG)>J@)>G@@=)S)bA::F>)=@@)>J@)iFG@=>)iFG)>J@)>G@@=(¨®Trnnmh(ñipgisui(
hói(muipusi(mp(svñmphrnh(hósnoj(wigrlji(mò(gmnginhprhsno(hmm(vlgó(mn(kihrsîjfP)
jF)bC9Pf)A)>G@@!(¨®[m(rrï(rnk(jhmñ(wmhóipsno(vifP)PAR@)C9R@)A)>G@@)A:H)C@AQ@(
¨®hm(îiruiæ(hm(kiñrphfP(oF:@e)HF@=):F>);GFg)F:)>G@@=(¨®sh(sj(nmh(irjï(hm(oih(vmnL
iïfP(>J@)>G@@)9=)R:Fg:)fe)9>=)iG(¨®^imñîi(ìlkoi(ïmlp(górprghip(wï(órh(ïml(kmfP)
G@@)¨®gmnòljikæ(shómlh(rn(rnjip(hm(r(ñpmwîivæ(sn(ksòûglîhïæ(snhmsgrhikfP(
f@)F)Fi)eFG@@)(¨®hm(wi(gprï(mp(wiórusno(sn(r(jhprnoi(rïP(jmvihsvij(wigrlji(
mò(kploj(mp(rîgmómîfP(>J@)>FB)Fi)>J@)>G@@(¨®Uò(jmvimni(sj(rh(hói(hmñ(mò(hói(hpiiP(hóiï(
rpi(rh(hói(ósoóijh(ñmjshsmn(sn(hóisp(ìmw(mp(sn(rn(mpornsrhsmnfP(ACC)FAR)A:H)9GF:)
fF) FAR=) iGFP) C9>>C@) AbFG:=) ;GFg) S)
o9;J>e) FAR=) iGFP) C9>>C@) AbFG:=) ;GFg( ¨®Uvvinji( hósnoj( grn( gmvi( òpmv( jvrîî(
KI

HM
T=>G9H)jGF=kC@Gl)U9CEA:A))`QA:FQ=RA
jmlpgijfP(89>>C@)=>GFR@=)i@CC);G@A>)FAR=(¨®Zshhîi(jhpmèij(òiîî(opirh(mrèjfP(G@@H)f@­
iFG@)>J@)g9:H)C9Q@=)F:l)gJ9C@)P9;J>e)FAR=)HF)iACC(¨®Qn(snjsonsûgrnhP(¿iswîi(ñipL
jmn(sj(vmpi(îsèiîï(nmh(hm(oih(ólph(sn(r(gpsjsj(hórn(r(ñpmvsninh(mp(psosk(ñipjmnfP(
JFCH)F)>J@)FC9Q@)fGA:bJp)S)Fii@G)A:)FC9Q@)fGA:bJ(¨®hm(mòòip((hm(ink(r(ksjñlhi(rnk(
wi(òpsinkîïæ(hm(mòòip(pigmngsîsrhsmnfP(h@H)A=)A)GF=@)S)G@H)A=)A)BFBBe)S)G@H)A=)A)
bJ@GGe(¨®wpsoóh(pikfP(A)f@H)Fi)GF=@=(¨®r(îllpsmlj(jshlrhsmnæ(rn(irjï(îsòifP(bFP@)
F)=P@CC9:;)C9R@)A)GF=@(¨®Vm(jlggiikæ(hm(km(wihhip(hórn(rnïmni(iîji(sn(jmvi(jshlL
rhsmnfP)]Q@Ge>J9:;I=)bFP9:;)J@G):AP@)gF(¨®Vói(nrhlpi(mò(r(
hósno(sj(vmpi(svñmphrnh(hórn(órh(sh(sj(grîîikfP)=P@CC)C9R@)A)GF=@(¨®hm(jiiv(snnmL
ginhfP([J@G@I=):F)GF=@)g9>JF)A)>JFG:)¨®Vm(inìmï(rnï(wirlhsòlî(mp(ñîirjrnh(hósnoP(
ïml(vljh(inklpi(jmvihósno(ksòûglîh(mp(ñrsnòlîfP):F>)f@)ACC)PFF:C9;J>)A:H)GF=@=)
¨®Uò(r(jshlrhsmn(sj(nmh(rîî(vmmnîsoóh(rnk(pmjijP(sh(sj(nmh(rîrïj(ñîirjrnhfP)B)>J@)
GF=@=)9:)=FP@fFHeI=)bJ@@R=)S)fG9:;)>J@)GF=@=)>F)=FP@fFHeI=)bJ@@R=)¨®Vm(vrèi(
jmvimni(îmmè(óirîhóïfP(iG@=J)A=)A)HA9=e(¨®uipï(òpijóæ(ªmò(r(ñipjmn(rîrïj(rîiph(
rnk(pirkï(hm(omfP(BJ@)C9Ce(¨®hm(
rkk(mpnrvinh(mp(kigmprhsmn(hm(jmvihósno(hórh(sj(ñîirjsno(sn(shj(mpsosnrî(jhrhiæ(hm(
rhhivñh(hm(svñpmui(jmvihósno(hórh(sj(rîpirkï(ûni(hói(rï(sh(sjfP(=JG9:R9:;)Q9FC@>(
¨®jmvimni(óm(sj(uipï(jóï(rnk(nmh(rjjiphsuifP(>JFG:)9:)=FP@F:@I=)=9H@)S)>JFG:)9:)
=FP@F:@I=)q@=J(¨®r(gmnjhrnh(wmhóip(mp(rnnmïrngi(hm(jmvimnifP(;GA=B)>J@):@>>C@(
¨®hm(hrèi(rghsmn(svviksrhiîï(sn(mpkip(hm(kirî(shó(rn(lnñîirjrnh(jshlrhsmnfP(;G@@:)
A=);GA==(¨®uipï(opiinfP(;GA==)g9HFg(¨®r(mvrn(rwrnkmnik(wï(óip(óljwrnkfP(C@>)
;GA==);GFg)(¨®hm(km(nmhósnoæ(hm(jhrnk(jhsîîfP(=:AR@)9:)>J@);GA==(¨®r(
jnirèï( rnk( kijñsjik( ñipjmnfP( [J@) ;GA==) 9=) ACgAe=) ;G@@:@G) F:) >J@) F>J@G) =9H@(
¨®^imñîi(rîrïj(hósnè(hóiï(mlîk(wi(órññsip(sn(r(ksòòipinh(jih(mò(gspglvjhrngijfP(
TP@G9bA:)A=)ABBC@)B9@(¨®úlsnhijjinhsrî(QvipsgrnfP(9:)ABBC@rB9@)FGH@G(¨®sn(uipï(
ommk(mpkipæ(uipï(iîî(mpornsikfP(=>C@);G@@:)ABBC@=(¨®rwjmL
îlhiîï(giphrsnfP(T:)ABBC@)A)HAe)R@@B=)>J@)HFb>FG)AgAes(¨®Qññîij(rpi(jm(nlhpshsmlj(
hórh(sò(ïml(irh(rn(rññîi(iuipï(krïP(ïml(sîî(nmh(iuip(niik(hm(om(hm(r(kmghmpJfP)ABBC@)
Fi)m=FP@F:@I=)@e@n(¨®jmvimnifj(òrumpshi(ñipjmn(mp(hósnoæ(r(wmïòpsink(mp(r(ospîL
òpsinkfP)ABBC@rBFC9=J@G(¨®r(¿rhhipipfP)ABBC@=)A:H)FGA:;@=(¨®hm(inhshsij(hórh(rpi(
nmh(jsvsîrpfP)U9;)TBBC@(¨®Wi(†mpè(TshïfP(tFg)fF)>J@P)ABBC@=u)S)tFg)HF)eFJ@P)ABBC@=?(¨®©órh(km(ïml(hósnè(mò(hórh¬fP(PF>J@GJFFH)A:H)ABBC@)B9@(¨®rn(
mòhin( ñrpmksik( jinhsvinh( iñpijjik( rwmlh( rîîioikîï( úlsnhijjinhsrî( iîivinhj( mò(
Qvipsgrn(ómvi(îsòifP(GF>>@:)ABBC@(¨®r(jsnoîi(wrk(ñipjmn(mp(hósnofP(GF>>@:)ABBC@)
=BF9C=)>J@)fAGG@C(¨®Q(wrk(ñipjmn(sn¿lingij(iuipïmni(ói(mp(jói(gmvij(snhm(gmnhrgh(
shóP(vrèsno(hóiv(wrk(hmmfP()>J@)ABBC@)bAG>(¨®hm(vijj(lñ(mp(plsn(jmviL
hósnofP(aJ@ICC)f@)ABBC@=(¨®jmvihósno(hórh(ïml(jrï(sn(mpkip(hm(hiîî(jmvimni(hórh(
hóiï(km(nmh(niik(hm(mppï(rnk(hórh(iuipïhósno(sîî(órññin(rj(sh(jómlîkfP(bJ@GGe­

SW(VdY(`SôQWUQW(Y]\UcQZYWT†(Sb(^ZQWV(UXUSôR(UW(YW[ZURd
B9bR)=FP@>J9:;)S)A)f9>@)Fi)>J@)bJ@GGe(¨®hm(gómmji(jmvihósno(uipï(grpiòlîîïfP(89i@)
9=)E)A)fFgC)Fi)bJ@GG9@=(¨®iuipïhósno(sj(omsno(iîîæ(îsòi(sj(grpiòpiifP(;F)B@AG­
=JAB@H(¨®sò(r(ñîrn(omij(ñirpLjórñikP(sh(òrsîjfP(=B@AR)g9>J)A)BCJ@);GAB@(¨®hm(kpsnè(sni(mp(îsúlmp(
óirusîï(rnk(wigmvi(snhmsgrhikfP(=FFF)bGAbR(¨®ksòûglîh(ñipjmn(mp(ñpmwîiv(hm(kirî(shófP(t@)
>JA>)gF)>J@)R@G:@C)P)bGAbR)>J@)nut(¨®†ml(órui(hm(mpè(sò(ïml(rnh(hm(oih(
rnïhósno(ommkfP(9:)A)nut)=J@CC(¨®ªmò(nij(mp(snòmpvrhsmn(sn(r(¨ûolprhsui(grñL
jlîiæ(sn(jlvvrpïfP(nut)bA=@(¨®r(gprï(ñipjmnæ(rn(spprhsmnrî(ñipjmnfP(nut)ACR)C9R@)A)nut(¨®hm(jrï(jhlñsk(hósnojfP(HF)eFF)bJ9C9)A:H)f@A:=(¨®uipï(ñmmpæ(kmn(hm(mnifj(îrjh(ñinnïfP(
i)gFG>J)A)J9CC)Fi)f@A:=)A:H):F>)APF)>F)A)J9CC)Fi)f@A:=)S):F>)gFG>J)
f@A:=(¨®mphóîijjfP(=B9CC)>J@)f@A:=(¨®hm(osui(rrï(r(jigpih(mp(r(jlpñpsjifP(:F>)
JAQ@)A)f@A:(¨®hm(órui(nm(vmniïfP(A)f@A:)bF@G(¨®rn(svñmîshi(rï(mò(kijgpswsno(
jmvimni(óm(sj(pijñmnjswîi(òmp(hói(ûnrngsrî(kigsjsmnj(shósn(r(gmvñrnïfP(f@)
igFn)B@A=)9:)A)
BFH(¨®uipï(jsvsîrpfP)>J9bR)A=)B@A)=FgFn)B@A=)9:)A)
BFH(¨®uipï(gîmji(mp(snhsvrhifP)C9R@)=J@CC9:;)B@A=(¨®uipï(irjïfP(B@ArfGA9:@H(¨®r(
ñirLwprsnik(ñipjmn(sj(uipï(jhlñsk(¨rîrïj(wiòmpi(nmlnfP(A)bAGGF>r>FB(¨®r(ñipjmn(
shó(órsp(hórh(sj(rn(mprnoi(gmîmlpfP(bAGGF>rA:Hr=>9bR(¨®sò(ïml(lji(r(grppmhLrnkL
jhsgè(vihómk(hm(vrèi(jmvimni(km(jmvihósnoP(ïml(wmhó(mòòip(pirpkj(rnk(hópirhL
in(ñlnsjóvinhjfP(=@BAGA>@)>J@)gJ@A>)iGFP)>J@)bJAii(¨®hm(jiñrprhi(órh(sj(ljiòlî(
mp(urîlrwîi(òpmv(órh(sj(mphóîijjfP(v9:@)gFGH=)f>@G):F)BAG=:9B=(¨®eljh(wiL
grlji(jmvimni(ñpmvsjij(jmvihósno(kmij(nmh(olrprnhii(hórh(ói(mp(jói(sîî(km(shJfP(
E)i@CC)Fii)>J@)>G)fCFFH)
iGFP)A)>F(¨®r(îrï(snksusklrîP(rkksghik(hm(hiîiusL
jsmnLrhgósnofP(HGFB)=FP@F:@)FG)=FP@>J9:;)C9R@)A)JF>)BF>A>F(¨®hm(ksjrjjmgsrhi(
mnijiîò( shó( jmvimni( mp( jmvihósno( snjhrnhîïfP( =PACC) BF>A>F@=( ¨®jmvihósno( mp(
HK

HH
T=>G9H)jGF=kC@Gl)U9CEA:A))`QA:FQ=RA
jmvimni(snjsonsûgrnhæ(jvrîî(òpïfP(>J@)P@A>)A:H)BF>A>F@=(¨®hói(vmjh(svñmphrnh(mp(
wrjsg( ñrphj( mò( jmvihósnofP) bFFC) A=) A) b)=FP@­
>J9:;)9:)=FP@>J9:;l)=B9CC)>J@)f@A:=l)bAGGF>rA:Hr=>9bRP(TP@G9bA:)A=)ABBC@)B9@l)U9;)
TBBC@l)tFg)fF)>J@P)ABBC@=u)S)tFg)HF)eFJ@P)ABBC@=ul)B@BB@G)=FP@F:@)
FG)=FP@>J9:;)g9>J)=FP@>J9:;l)R:Fg)F:@I=)F:9F:=l)A)fA:A:A)G@BG@@x(¨`(^îsvwƒ(lpjlî(8(óipi(snjhirk(mò(r(ñîrnh(nrvi(rn(rnsvrî(
nrviP(®wirpfP(sj(ljikæ(>J@)>FB)Fi)>J@)>G@@(¨`(upòlî(ñsprvskis(8(hói(hipv(ljik(óipi(
sj(®ñïprvskfP(oF:@e)9=)>J@)GFF>)Fi)ACC)@Q9Cs(¨`((arnlLs(mgóslî(kprglîls(8(snjhirk(
mò(pmmh(i(ûnk(®iïifæ(>J@);GA==)GFF>=(¨`(hrîñr(ƒpss(®hói(gmlnhpïfj(òiihfæ(HFg:)>F)
bJ9C9)A:H)f@A:=(¨`(jƒprg(îsñsh(ñƒvnhlîls(®jhlgè(hm(hói(opmlnkP(jm(ñmmpfæ(òlîî(mò(
wirnj(£(òlîî(mò(ñplnij(¨`(wrhi(rñrLn(ñslr(8(wirhsno(hói(rhipæ(AC9R@)A=)m>gFn)B@A=)
9:)A)BFH(¨`(gr(kmlƒ(ñsgƒhlps(ki(rñƒ(8(hói(hipv(ljik(sj(kpmñj(mò(rhipæ(=>C@);G@@:)ABBC@=(¨`(glv(pƒjrpi(jmrpiîi(8(hói(hipv(sj(®jlnfæ(ABBC@=)A:H)
FGA:;@=(¨`(Qñr(s(lîislî(8(hói(òplsh(nrvij(rpi(piñîrgik(wï(îsúlskjP(rhip(rnk(msîæ(
;F)B@AGr=JAB@H(¨`(arA)H@9(8(virnsno(®sh(inh(kmn(hói(kprsnfæ(
bGAke)A=)A)B@AbJrFGbJAGH)fFAG(¨`(H

SW(VdY(`SôQWUQW(Y]\UcQZYWT†(Sb(^ZQWV(UXUSôR(UW(YW[ZURd
rîpirkï(vinhsmnikJ(Vói(òmîîmsno(ñiphrsn(hm(sksmvj(ióswshsno(¨rîvmjh(hói(jrvi(
ñîrnh{(=JAR@)C9R@)A)C@Ai)¨`(>G@PF)>J@)=BF>(¨`)A)BG9:H@)
GzHzb9:9)B@)CFbæ(bA::F>)=@@)>J@)gFFH)iFG)>J@)>G@@=)S)bA::F>)=@@)>J@)iFG@=>)iFG)>J@)
>G@@=(¨`)A):G@@=(¨`(UA:99)
:J@)GF=@=)>F)=FP@fFHeI=)bJ@@R=(
¨`(f>@:)ABBC@(rnk(
GF>>@:)ABBC@)=BF9C=)>J@)fAGG@C(¨`(PzG)BG@H(pijñighsuiîï(G9bz)>F>)
bF}J)A)BC)bA)fGAH)bA);AGH@)Fi)>J@)bJ@GGe(
¨`(A)AC@;@);Gy

T=>G9H)jGF=kC@Gl)U9CEA:A))`QA:FQ=RA
Xiiñinsno(mlp(snuijhsorhsmn(i(ûnk(hórhP(òpmv(äI(`mvrnsrn(gmlnhipñrphjP(§å(
¨sJiJ(çâ«(km(nmh(ióswsh(ñîrnh(mp(ñîrnh(ñrph(nrvijP(hómloó(sjjlsno(hói(jrvi(virnL
snoJ(Unhipijhsno(inmloóP(òpmv(hói(§§(pivrsnsno(`mvrnsrn(ñîrnh(sksmvjP(çI(¨sJiJ(
çç«(mwjipui(hói(Ynoîsjó(gómsgi(mò(hói(ñîrnhP(ósîi(hói(mhóip(å(¨§«(hrèi(r(ksòL
òipinh(ñîrnh(nrviJ(bmp(r(gîirp(ñipjñighsui(jii(bsolpi(KJ(
Slp(pijirpgó(órj(gîirpîï(jómn(hórh(hómloó(vmjh(Ynoîsjó(ñîrnh(sksmvj(inhrsî(r(
`mvrnsrn(iúlsurîinh(òpmv(hói(ñmsnh(mò(usi(mò(jivrnhsgjP(hóiji(gmlnhipñrphj(km(
nmh(rîrïj(hrèi(r(ñîrnh(nrviJ(^îrnh(nrvij(vrï(wi(piñîrgik(wï(gmngpihi(rj(iîî(
rj(rwjhprgh(nmlnjP(rnk(hómloó(hóiï(snòip(hói(jrvi(virnsno(rj(hói(Ynoîsjó(mniP(hói(
vsppmpsno(mò(hósj(virnsno(sj(jñigsûg(hm(hói(pijñighsui(îrnolroiJ
4%
26%
33%
37%
H§
v9;)`H9FP=)9:)hFPA:9A:Ç
ÉÑÖ)r):F)hFPA:9A:)bF@GBAG>=Ü)
ááÖ)r)hFPA:9A:)bF@GBAG>=)bF:>A9:9:;)>J@)=AP@)BCA:>):AP@=Ü)
áàÖ)r)hFPA:9A:)bF@GBAG>=):F>)bF:>A9:9:;)BCA:>):AP@=Ü)
âÖ)r)hFPA:9A:)bF@GBAG>=)bF:>A9:9:;)H9ii@G@:>)BCA:>):AP@=
Vói(sksmvj(gmnhrsnsno(ñîrnh(nrvij(rpi(rîjm(górprghipsjhsg(hm(hói(gmlnhpï(hóiï(
ñiphrsn(hmJ(VóljP(rîhómloó(vmjh(Ynoîsjó(sksmvj(wlsîh(shó(hói(óiîñ(mò(¿mip(mp(
hpii( nrvijP( rj( iîî( rj( ñîrnh( ñrphjP( ûnk( rn( rîvmjh( ñipòigh( îshiprî( hprnjîrhsmn( sn(
`mvrnsrnP(sksmvj(jórpsno(uioihrwîi(rnk(òplsh(nrvij(vmjhîï(hrèi(rnmhóip(ñîrnh(
nrvi(sn(`mvrnsrnJ(Vósj(sj(ñmjjswîi(wigrlji(hói(jrvi(òplsh(mp(uioihrwîij(grn(hrèi(
ksòòipinh(gmnnmhrhsmnj(sn(hói(vsnkj(mò(hói(ñimñîi(ñiphrsnsno(hm(ksòòipinh(glîhlpijP(
ñimñîi(nmh(jórpsno(hói(jrvi(vinhrîshï(rnk(îsòi(gmngiñhjJ

SW(VdY(`SôQWUQW(Y]\UcQZYWT†(Sb(^ZQWV(UXUSôR(UW(YW[ZURd
uOmO'YFpqB@DJFpD
Vóipi(sj(nm(ñipòigh(iúlsurîingï(wihiin(Ynoîsjó(rnk(`mvrnsrn(sksmvjP(r(òrgh(
ñpmuin(sn(hói(rwmui(jighsmnjJ(©i(gmlîk(snòip(hósj(òpmv(hói(rnrîïjsj(mò(hói(KHM(
Ynoîsjó(ñîrnh(sksmvj(ñpijinhikP(mò(ósgó(mnîï(äI(ksjñîrïik(`mvrnsrn(gmlnhipL
ñrphjJ(©i(gmlîk(rîjm(mwjipui(hórh(mnîï(r(jvrîî(ñipginhroi(¨sJiJ(çç«(mò(hói(sksmvj(
rghlrîîï(pijñighj(hói(gómsgi(mò(hói(Ynoîsjó(ñîrnh(nrvi(rnk(ñpijipuij(sh(shósn(hói(
`mvrnsrn(îrnolroiJ
Qnmhóip(gmngîljsmn(hórh(grn(wi(kprn(sj(hórh(mni(mò(hói(kihipvsnipj(mò(hósj(¥svL
ñipòighø(iúlsurîingï(sj(hói(glîhlprî(ksòòipingi(wihiin(hói(Ynoîsjó(rnk(hói(`mL
vrnsrn(jmgsihïP(ljsno(ksòòipinh(hipvj(hm(iñpijj(hói(jrvi(hósnojJ
3-L-3-XY-/
arèipP(ôJ(¨YkJ(HMMK{(hFC@H;@)]:bebCFBA@H9A)Fi)[GA:=CA>9F:)a>9F:AGeP(Hnk(ikJ(Tmñïpsoóh(»(Trvwpskoi(\nsuipjshï(^pijj(HMMã
[pmjîipP(QJ(¨HMMäJ(¥Sn(hói(`mvrnsrn(Yúlsurîingï(mò(Qnsvrî(Uksmvj(sn(YnoîsjóøJ(äF9F:AGe)Fi)>@GP=)@PBCFe@H)9:)>J@)>J@FGel)BGAb>9b@)A:H)H9HAb­
>9b=)Fi)>GA:=CA>9F:J(Vsvsmrpr{(YkJ(SpsmnhlpsJ(
objGAgrt9CC)^9b>9F:AGe)Fi)TP@G9bA:)`H9FP=)A:H)OJGA=AC)V@Gf=J(»(HMMH(wï(Vói(ôgL
[prLdsîî(TmvñrnsijP(UngJ
crporP(QJ( …( [pmjîipP(QJ( ¨HMMäJ( ¥Qnsvrî( Uksmvj( rnk( Vóisp( `mvrnsrn( YúlsurîinhjøJ(
899:ã9{b@)âå)mánP(brglîhrhir(ki(QopsglîhlpƒP(\RQôcaP(VsvsmrprP(`mvnsrP(
çãILçâçJ
ASTRID SIMONE GROSZLER
BILJANA IVANONSKA
R\`(Zf_]\UcQZYWTY(`S\ôQUWY(XYR(UXUSôYR(QW[ZQUR(TSWVYWQWV(ZYR(
WSôR(XY(^ZQWVYR
`tjlvt
Zi(wlh(ki(gi(ñrñsip(ijh(kfmwjipuip(gmvvinh(îij(sksmvij(rnoîrsj(gmnhinrnh(îij(nmvj(ki(
ñîrnhij(jmnh(hprklshj(krnj(îr(îrnoli(pmlvrsniJ(Wmlj(rumnj(mwjiput(nmn(jilîivinh(îij(
Hå

T=>G9H)jGF=kC@Gl)U9CEA:A))`QA:FQ=RA
túlsurîinhj( pmlvrsnj( kij( sksmvij( rnoîrsjP( vrsj( rljjs( rumnj( gmnjhrht( îij( ñpsngsñij( ki(
îilp(òmpvrhsmn(in(pmlvrsnJ(Zij(sksmvij(úli(nmlj(rumnj(rnrîïjtj(sngîlinh(kij(ñrphsij(ml(
kij(ijñqgij(kij(ñîrnhijP(kij(rpwpijP(kij(¿ilpjP(kij(òplshj(ih(kij(îtolvijJ(Wmlj(jmvvij(
rppsutj(x(lni(gmngîljsmn(úlfsî(nfï(r(ñrj(kftúlsurîingi(ñrpòrshi(inhpi(îij(sksmvij(rnoîrsj(
ih(pmlvrsnjJ(Wmlj(rumnj(hspt(gihhi(gmngîljsmn(rñpqj(rumsp(rnrîïjt(KHM(sksmvij(rnoîrsjP(
klúliî(jilîivinh(äI(mnh(kij(túlsurîinhj(pmlvrsnjJ(Wmlj(ñmlumnj(rljjs(pivrpúlip(úli(
jilîivinh(çç(«(kij(sksmvij(pijñighinh(uprsvinh(îi(góms(kl(nmv(rnoîrsj(ki(ñîrnhi(ih(îi(
ñptjipui(krnj(îr(îrnoli(pmlvrsniJ
oF>=)bCD=({(sksmviP(túlsurîingiP(nmvj(ki(ñîrnhijJ
( ( (
Qjhpsk(Rsvmni([pmjîip
arnrh( \nsuipjshï( mò( Qopsglîhlprî( Rgsingi( rnk(
cihipsnrpï(ôiksgsniP(VsvsjmrprP(`mvrnsr
iLvrsî{(vmni jhipnÀïrómmJgmJlè
asîìrnr(Uurnmujèr
brglîhï(mò(^ósîmîmoïP(\[XP(öhsñP(`J(ôrgikmnsr
iLvrsî{(wsîìrnrsurnmujèrHMMMÀïrómmJgmv
Hã

BILJANA IVANOVSKA
ASTRID SIMONE GROSZLER
*X10*,'1.1Z0/'1X'`-30*X''
*X.')b-13'0*Y-.ZX1*X'-?41[*,-X)/'
Vósj(ñrñip(òmgljij(mn(hói(rnsvrî(sksmvj(sn([ipvrn(îrnolroi(rnk(hóisp(ôrgikmnsrn(gmlnL
hipñrphjJ(©i(snhink(hm(mwjipui(óihóip(hói([ipvrn(rnsvrî(sksmvj(órui(hóisp(ôrgikmnsrn(
iúlsurîinhj(rnk(hói(ksòòipingi(sn(hóisp(virnsnoJ(©i(hpï(hm(vrèi(r(ñrprîîiî(wihiin(hói(
ôrgikmnsrn(rnk([ipvrn(rnsvrî(sksmvj(rnk(i(ómñi(hórh(hósj(pijirpgó(sj(niikik(rnk(grn(
wi(óiîñòlî(sn(mpkip(hm(wi(rgglprhi(óin(hprnjîrhsno([ipvrn(jñigsrîsik(mp(nmnLjñigsrîsik(
hihj(snhm(ôrgikmnsrn(rnk(usgi(uipjrJ(©i(rnrîïik([ipvrn(sksmvj(jlgó(rj{(çg@9)vC9@;@:)
P9>)@9:@G)YCABB@)=bJCA;@:)mé=F)@H@:)

U9CEA:A)`QA:FQ=RAl)T=>G9H)a9PF:@)jGF=kC@G
òmp(jmvimni(nmh(uipï(¿linh(sn(hói(îrnolroi(hm(lji(hóiv(ñpmñipîïJ(Rmvi(sksmvj(
rpi(mnîï(ljik(wï(jmvi(opmlñj(mò(ñimñîi(mp(rh(giphrsn(hsvijJ(
Qn(sksmv(sj(rn(rggiñhik(ñóprji(mp(iñpijjsmn(hórh(kmijnfh(òmîîm(hói(ljlrî(ñrhL
hipnj(mò(hói(îrnolroi(mp(hórh(órj(r(virnsno(mhóip(hórn(hói(îshiprîJ(^óprjij(hórhP(
óin(ksjjighikP(kmnfh(jiiv(hm(vrèi(vlgó(jinjiP(rpi(mòhin(sksmvrhsgJ(
%ói([ipvrn(îrnolroi(sj(psgó(sn(sksmvj(rnk(ïml(vrï(órui(hpmlwîi(lnkipjhrnkL
sno(hói(îrnolroi(sò(ïml(km(nmh(ènm(shj(sksmvrhsg(iñpijjsmnjJ(Uksmvj(rpi(ñiglîsrp(
gmvwsnrhsmnj(mò(mpkj(hórh(rîîm(ïml(hm(gmnuiï(r(jñigsûg(vijjroiJ(ômjh(mò(hói(
hsvijP(sò(ïml(km(nmh(ènm(rn(sksmv(rnk(ìljh(îmmè(rh(hói(mpkj(hórh(vrèi(sh(lñP(
ïml(sîî(wi(gmnòljikJ(†ihP(hói(mpkj(órui(r(uipï(gîirp(virnsno(irghîï(wigrlji(
hóiï(rpi(ñlh(hmoihóip(sn(hórh(wsrppi(rïJ(Vórh(sj(hói(lnsúlinijj(rnk(opirhnijj(mò(
sksmvjJ(Uò(ïml(îirpn([ipvrn(sksmvjP(ïml(sîî(vrjhip(jmvi(mò(hói(vmjh(jlooijhsui(
ñóprjij(mò(hói([ipvrn(îrnolroi(rnk(sîî(wi(rwîi(hm(iñpijj(ïmlpjiîò(sn(hói(jrvi(
rï(r([ipvrn(nrhsui(jñirèip(kmijJ
†ml(gmlîk(gmnjskip(r(îrnolroi(rj(wisno(gmvñîihiîï(vrki(lñ(mò(sksmvjJ(Yrgó(
îrnolroi(órj(r(giphrsn(jih(mò(plîij(hórh(omuipn(hói(rï(mpkj(rpi(ñlh(hmoihóip(hm(
iñpijj(òrghjP(skirjP(rnk(òiiîsnojJ(Vói(plîij(rnk(hóisp(igiñhsmnj(rpi(lnsúli(hm(
hói(îrnolroiP(kijñshi(ñmjjswîi(jsvsîrpshsij(shó(mhóip(îrnolroijJ(Un(hósj(jinjiP(r(
îrnolroi(sj(rîrïj(sksmvrhsgJ(©shósn(hósj(oiniprî(gmnjskiprhsmnP(i(ljlrîîï(hósnè(
mò(®sksmvjf(rj(lnsúli(ñóprjij{(i(lji(hóiv(hm(iñpijj(jmvihósno(hórh(mhóipP(vmpi(
oiniprî(jinhingij(grnnmh(iñpijj(ìljh(rj(iîîJ(Uh(sj(svñmphrnh(hm(îirpn(sksmvj(hm(
wi(rwîi(hm(gmvvlnsgrhi(iîîJ(Vóiï(rpi(rîjm(snhipijhsno(hm(jhlkï(wigrlji(mò(hói(
snjsoóh(hóiï(osui(lj(snhm(hói(îrnolroi(rnk(hói(ñimñîi(óm(lji(hóivJ(Vóiji(iL
ñpijjsmnj(mpsosnrhi(sn(hói(ósjhmpïP(îshiprhlpiP(piîsosmnP(rnk(hprkshsmnj(hïñsgrî(mò(r(
giphrsn(gmvvlnshïJ(bmp(hósj(pirjmnP(sksmvj(piuirî(vlgó(mò(hói(rï(mò(hósnèsno(
mò(r(gmvvlnshïJ
Un(vmjh(îrnolroijP(i(grnnmh(òlîîï(iñpijj(mlpjiîuij(mp(lnkipjhrnk(mhóipj(sò(
i(km(nmh(ènm(hói(vmjh(gmvvmn(sksmvjJ(Uh(sj(ñmjjswîi(hm(jñirè([ipvrn(shómlh(
ljsno(jñigsûg(sksmvjP(mò(gmlpjiP(wlh(hóin(mlp([ipvrn(mlîk(wi(sngmvñîihiP(îsèi(
r(ñrsnhsno(óipi(jmvi(gmîmpj(órui(wiin(hrèin(rrïJ(Uksmvj(jñsgi(lñ(hói([ipvrn(
îrnolroi(rnk(osui(sh(hói(vmjh(uswprnh(gmîmpjJ([ipvrn(sksmvj(rpi(uipï(skiîï(ljik(
sn(rîî(jmgsrî(gspgîij(rnk(gspglvjhrngij{(sksmvrhsg(iñpijjsmnj(rpi(ljik(sn(gmnuipL
jrhsmn(rj(iîî(rj(sn(viksr(rnk(îshiprhlpiJ(VóipiòmpiP(îirpnsno([ipvrn(sksmvj(sîî(
inórngi(ïmlp(îrnolroi(jèsîîjJ(Q(ommk(gmvvrnk(mò([ipvrn(sksmvj(sîî(vrèi(
ïmlp(vrjhipï(mò(hói([ipvrn(îrnolroi(gmvñîihiJ(Yuin(sò(ïml(ènm(hói(virnsno(
mò(irgó(mpkP(ïml(vrï(nmh(lnkipjhrnk(hói(sksmv(shjiîòJ(Uò(ïml(hprnjîrhi(®drîj(Ãwip(
ümñòf(¨nigè(muip(óirk(mpk(wï(mpkP(ïml(gmlîk(órpkîï(olijj(hórh(hói(iñpijjsmn(
rghlrîîï(virnj(®9:)A)PAH)J

QWUôQZ(UXUSôR(UW([Y`ôQW(QWX(VdYU`(ôQTYXSWUQW(Y]\UcQZYWVR
mO'YZ3a4/'*X*,5/1/
mOlO'0oGAKJoBD'opH'EAGtFH
©i(órui(snuijhsorhik(ûòhï(ûui([ipvrn(sksmvj(gmnhrsnsno(nrvij(mò(rnsvrîjP(
wspkj(rnk(snjighj(orhóipik(òpmv([ipvrn(îrnolroi(rnk(jñigsrîsik(ksghsmnrpsijJ(
bspjh(i(órui(snhpmklgik(hói(hipvj(sksmv(rnk(iúlsurîingïP(hóin(i(órui(îmmèik(
òmp(hói(ôrgikmnsrn(gmlnhipñrphj(mò(hói([ipvrn(sksmvj(rnrîïsno(hóisp(iúlsurL
îingï(rnk(òpiúlingïJ
mOmO'3AD@BGD
Vói(svroi(gpirhik(wï(hói(îshiprî(virnsno(mò(rn(sksmv(grn(wi(ljik(uipï(iòòigL
hsuiîï(hm(óiîñ(ïml(pivivwip(hórh(sksmvJ(dipi(rpi(ìljh(hm(irvñîij(mò([ipvrn(
sksmvj(hórh(grn(wi(irjsîï(pihrsnik(hósnèsno(mò(hói(svroij(hóiï(iumèiJ(Vói(Ynoîsjó(
sksmv(®>F)PAR@)A)PFA9:)F)Fi)A)PFC@J9CCf(sj(®rlj(isnip(ôÃgèi(isnin(Yîiòrnhin(
vrgóinf(¨hm(vrèi(rn(iîiñórnh(mlh(mò(r(vmjúlshm(sn([ipvrnP(mp(sn(ôrgikmnsrn(
®mk(vlur(ñprus(jîmnfJ(Vm(pivivwip(hói([ipvrn(sksmvP(ïml(grn(irjsîï(ñsghlpi(r(
hsnï(vmjúlshm(górnosno(snhm(r(wso(iîiñórnhJ(Vói(Ynoîsjó(®A=){>)A=)A){HHC@f(wiL
gmvij(®oijlnk(si(isn(bsjgó(sv(©rjjipf(¨rj(óirîhóï(rj(r(ûjó(sn(hói(rhip(sn([ipL
vrnP(wlh(sn(ôrgikmnsrn(¥kpru(èrèm(kpinøJ(Vm(vivmpsi(hósj([ipvrn(ñóprjiP(
ïml(grn(hósnè(mò(r(óirîhóï(ûjó(jsvvsno(sn(gîirp(rhipjJ
Yuin( hómloó( ljsno( hói( svroij( mò( hói( îshiprî( hprnjîrhsmn( sj( rn( iòòighsui( rnk(
òln(rï(hm(îirpn([ipvrn(sksmvjP(hói(îshiprî(hprnjîrhsmn(rîmni(sj(kigisusnoJ(Vói(
pirî(virnsno(mò(hói([ipvrn(sksmv(órj(hm(wi(îirpnik(sn(gmnhih(hm(wi(gmppighîï(
lnkipjhmmkJ(Uh(sj(nigijjrpï(hm(jhlkï(sksmvj(shósn(jinhingijJ(Q(ñpmñip(irvñîi(
vrèij(hói(virnsno(rnk(hói(lji(gîirpJ(Vói([ipvrn(sksmv(®òÃp(ksi(ürh(jisnf(îshL
iprîîï(virnj(®hm(wi(òmp(hói(grhPf(wlh(hói(Ynoîsjó(iúlsurîinh(sj(®>F)f@)A)gA=>@)Fi)
>9P@f(¨®kinolwsfP(®wikiînsgsf(sn(ôrgikmnsrnJ(dipifj(rn(irvñîi{(®XpJ(Rgóvshhj(
bmpjgólnojrpwish(sjh(îiskip(òÃp(ksi(ürhJ(XpJ(bprnèinjhisn(órh(ksijiîwi(ôrjgósni(
jgómn(ump(kpis(erópin(èmnjhplsiphJ(Õ(\nòmphlnrhiîïP(XpJ(Rgóvshh®j(pijirpgó(sj(r(
rjhi(mò(hsviJ(XpJ(bprnèinjhisn(órj(rîpirkï(kijsonik(hói(jrvi(vrgósniJ®(†ml(
vrï(snshsrîîï(wi(hivñhik(hm(hósnè(hórh(XpJ(Rgóvshh(îshiprîîï(osuij(ósj(pijirpgó(hm(
hói(grhP(wlh(hói(pirî(virnsno(mò(hói(iñpijjsmn(wigmvij(rññrpinh(óin(ñlh(snhm(
gmnhihJ
Vói( sksmvj( i( órui( rnrîïik( sngîlki( rnsvrîP( wspk( rnk( snjigh( sksmvjJ(Vói(
rnsvrîjf(górprghipsjhsg(ñóïjsgrî(mp(wiórusmprî(òirhlpij(rpi(ñlh(hm(ksjñîrï(sn(hói(
òmîîmsno{
HI

çM
U9CEA:A)`QA:FQ=RAl)T=>G9H)a9PF:@)jGF=kC@G
*vvA'¨rñi(Œ(9bJ);CA

QWUôQZ(UXUSôR(UW([Y`ôQW(QWX(VdYU`(ôQTYXSWUQW(Y]\UcQZYWVR
LJDqt( ¨ûjó( Œ( nsgóh( LJDqtP( nsgóh( bîisjgó( £( ikip( LJDqt( nmgó( bîisjgó(
nishóip(ûjó(nmp(òmîæ(nmhósno(kiûnshi(mp(pigmonsrwîi(¨nishóip(ûjó(nmp(virh(sn(
ôrgikmnsrn{(®ns(umkr(ns(èsjiîsnrf((mp(–ns(pswr(L(ns(kiumìèr®J
LBJAxA(¨¿ï(Œ(is(LBJAxAp(vsh(isnip(üîrññi(jgóîroin£(sn(ôrgikmnsrn((®jm(ikin(
lkrp(kui(vlus(hiñrfæ(hm(èsîî(hm(wspkj(shó(mni(jhmni(¨ósh(hm(¿sij(shó(mni(jrhL
hipJ
LBJAxA(¨¿ï(Œ(is(LBJAxAp(vsh(isniv(Rgóîro(hpiòòin(£(sn(ôrgikmnsrn(®jm(ikin(
èlpjlv(kur(rìrèr(lwsurfæ(hm(èsîî(hm(wspkj(shó(mni(jhmni(¨ósh(hm(¿sij(shó(mni(
wîmJ
LBJAxA(¨¿ï(Œ(Rsi(ûiîin(lv£jhrpwin(si(ksi(LBJAxApJ(Vóiï(kpmññik£ksik(îsèi(¿sijJ(
¨sn(ôrgikmnsrn{(fñrknrr(èrèm(èpljsfJ
L@qtD(¨òm(Œ(m(jsgó(drji(lnk(blgój(olhi(Wrgóh(jroinJ(Slh(sn(hói(vskkîi(mò(
nmóipiP(sn(hói(wrgè(mò(wiïmnk(¨óipi(órpi(rnk(òm(jrï(ommk(nsoóhJ(¨–Wr(èprì(nr(
juihmhf(mp(–èrki([mjñmk(pièmî(wmolvfJ
.AK'L@qtD'œnkiph(krj(drrpP(lnk(wîiswh(rj(ip(rp(¨–umîèmh(om(vinlur(èpnmhmP(
nm(èrprèhipmh(nifJ
LKFDqt(Œ(jis(èisn(bpmjgó(¨om(mn(–ni(wsks(èlèrusgrfP(®prjsñlurg(nr(rwrus£ñîrjL
îsuèmP(jhprjîsuèmfJ
botp(sv(ümpw(jisn(£(kip(botp(sv(ümpw(jisn(8(hm(wi(hói(gmgè(mò(hói(rîèæ(wi(
mni(óm(kmvsnrhij(r(opmlñ(£jshlrhsmnP(ijñJ(muipwirpsnoîïæ(r(vrn(jlppmlnkik(wï(
mvin(®ji(glujhulur(¨suii(èrèm(wlwpio(um(îmìf(mp(
®oîruin(vsîinsè(ifJ((
botp(Œ(Xrnrgó(èpœóh(èisn(drón(viópJ(Wm(mni(osuij(r(ómmh(rwmlh(hórh(rnïvmpiJ(
¨nm(pmmjhip(gpmj(rwmlh(hórh(£ønsèmì(ni(om(rwiîilur£pigèr(ni(vl(lkspr£ni(om(
òipvrfJ(
.o'BJAxG'HAK'boDA'JE'avAvvAK'¨hórhfj(hói(jnroP(hórhfj(hói(plwP(hórhfj(hói(¿ï(mn(hói(
msnvinhP(sn(ôrgikmnsrn{(®hmr(i(ñpmwîivmhfæ(®iknm(rvr(nr(kiumìèrhr(s(ìr(prjsñlur(
jpièrhrf(mp(®iknm((:F(ñprus(ñpmwîivfJ
boDA'L(ôrsn(Wrvi(sjh(drji(¨U(kmnfh(órui(r(gîli£fìrj(ni(jlv(mk(hlèrfJ
RióinP(si(kip(boDA(îœlòh(¨hm(jii(óm(hói(snk(wîmjP(®mk(èrki(klur(uihipmhfJ
b@pH(¨kmo(Œ(wièrnnh(si(isn(wlnhip(dlnkJ(©iîî(ènmnP(ènmn(rîî(muip(¨îsèi(
r(gmîmpòlî(kmo¥(sn(ôrgikmnsrn{(®nrkrîièl(ñmnrhfJ
b@pH(¨kmo(Œ(aiîîinki(dlnki(wis—in(nsgóhJ(arpèsno(kmoj(kmn®h(wshiJ(®èlgi(jhm(
îri(ni(èrjrf£fmk(mnmì(jhm(wmplur(ni(ji(ñîrjsfJ
b@pH(¨kmo{(Xr(îsioh(kip(dlnk(wioprwinJ(Vórh®j(hói(gpl£óirph(mò(hói(vrhhipJ(
¨sn( ôrgikmnsrn{( ®hlèr( îis( rìrèmhfJ(Vói( iñpijjsmn( pirîîï( órj( nmhósno( hm( km(
shó(kmojJ(Uh(omij(wrgè(hm(rn(mîk([ipvrn(mpk(òmp(hpirjlpi¥{(H9@)t

çH
U9CEA:A)`QA:FQ=RAl)T=>G9H)a9PF:@)jGF=kC@G
b@pH( ¨kmo( Œ( ump( ksi( dlnki( oióinJ( Vm( om( hm( hói( kmojæ( om( hm( prgè( rnk( plsn(
¨®ñpmñrorfP(®kmror(km(ñpmjìrgès(jhrñfJ
{oGAK(Œ(isnin(ürhip(órwinJ(Vm(órui(r(órnomuip(¨–vrvlpinfJ
{oG|A(¨grh(Œ(Xrj(sjh(rîîij(òÃp(ksi(ürhJ(Vórh®j(òmp(hói(wspkjJ(¨òmp(hói(grh¥(¨®rL
îlknm(ifP(®wiñmîinm(if
©inn(ksi({oG|A(rlj(kiv(drlj(sjhP(hrnin(ksi(ôœlji(¨©óin(hói(grh‘s(rrïP(hói(
vsgi(km(ñîrïP¥èmor(vrgèrhr(ni(i(kmvrP(oîlugshi(mpm(umkrh(¥J
{oG|A(rlj(kiv(Rrgè(îrjjin(¨hm(îih(hói(grh(mlh(mò(hói(wroP(fskrî(hrìnrf(mp(–èrjnrî(
nmor(mk(èmèmjèr®J((
ksi({oG|A(sv(Rrgè(èrlòin(£(hm(wlï(r(ñso(sn(r(ñmèi(¨–èlñlur(vrgèr(um(upièrfJ
{oG|Anjñplno(¨grh®j(ìlvñ(Œ(isn(ürhinjñplnoJ(Q(jhmni®j(hópm(¨øvnmol(wîsjèl£
nivr(ns(kur(gièmpr(kmº£ñpik(nmjmh(hs(iøJ
©si(ksi({oG|A(lv(kin(óisjjin(apis(jgóîisgóin(¨–vnmol(wmplurP(r(nsjhm(ni(èrL
lurfJ
{@t(¨gm(Œ(Ugó(wsn(èisni({@tP(ksi(vrn(viîèin(èrnnJ(U®v(nmh(vrki(mò(vmniïJ(
¨nmh(r(gm(hm(wi(vsîèik¥P(£fni(jlv(èprur(r(vmîinìif£J
{@t(¨gm(Œ(si(ksi({@t(umpv(nilin(Vmp£umpv(aipo(krjhióinJ(Vm(wi(gmvñîihiL
îï(wrò¿ik(¨îsèi(r(gm(jhrnksno(sn(òpmnh(mò(r(ni(orhi£hói(vmlnhrsn¥P(£foîikr(
èrèm(hiîi(um(jrpinr(uprhrf£J
{@tto@G(¨gmóski(Œ(Xrj(oióh(rlò(èisni(ülóórlhJ(Vórh®j(rwjmîlhiîï(sngpikswîi£
jhrooipsnoJ(¨kmijn®h(om(mnhm(r(gmóski¥P(®hmr(ni(i(ñîlènsLrîiñsfJ
0o@D(¨vsgi(Œ(isjji(ôœlji(jióin(8(hm(jii(ñsnè(iîiñórnhj(¨®ñpmvrjinr(snuijL
hsgsìrfJ
Yp(órh(ôœlji(sv(ümñòi'¨–svr(wlwrgès(um(oîrurhrfJ
Xr(wisjjh(ksi(ôrlj(èisnin(brkin(rwJ(Uhfj(Zmvwrpk(jhpiih(hm(r(Tósnr(mprnoiJ(¨®kiL
uikijih(s(kiuih(ñmjhmf(£(®jhm(ñmjhmfJ(
avAKH(¨ómpji(Œ(Xrj(óœîh(ìr(èisn(avAKH(rljJ(Vórh®j(vmpi(hórn(¿ijó(rnk(wîmmk(grn(
jhrnkJ(¨Wmh(iuin(r(ómpji(grn(inklpi(hórhJ¥P(®hmr(ni(vmi(ns(èmnì(kr(om(skpsfJ
avAKH(Œ(krj(avAKH(wisv(£(umv(Rgórn(rlòœlvinJ(Vm(ñlh(hói(grph(wiòmpi(hói(
ómpji(¨hm(wpskîi(hói(ómpji(wï(hói(hrsî¥P(®ñpik(kr(jsijP(hpiwr(kr(èpmsjfP(®ñpum(ñmjiìP(
ñmjîi(niìfP(®ni(ji(îihr(klps(ni(ñmprjnrh(èpsîìrfJ(
Qlòj(òrîjgói(avAKH(jihin(L(hm(wrgè(hói(pmno(ómpji(¨®nrjmî(gpèur(èrì(kr(ji(vmîsfJ
*KyAJGDzvAKH(¨mpèómpjiP(®prwmhs(èrèm(èmnì®(mp(–prwmhs(èrèm(gpnigfJ
[AKD@qtD}opJpqtAp(¨olsnir(ñsoP(rvmpgiJ
[FxAB{(isnin([FxAB(órwin(¨hm(wi(nlhj£gprïæ(sn(ôrgikmnsrn{(svr(wlwrgès(um(oîrL
urhrJ
aAqtnFxAB(¨¥ñshgó(wspkø(lnîlgèï(kiusîæ(¨®wrèjlfJ
~FBv(Œ(©ip(jsgó(lv(Rgóîrò(vrgóhP(kin(òpijjin(ksi(©“îòiJ(¨di(hórh(vrèij(ósvL
jiîò(r(jóiiñP(jórîî(wi(irhin(wï(hói(MFBvP(®rèm(js(mugr(jièmì(èi(hi(jhpssfJ(

QWUôQZ(UXUSôR(UW([Y`ôQW(QWX(VdYU`(ôQTYXSWUQW(Y]\UcQZYWVR
~FBv(sv(Rgóîròñiî(¨r(MFBv(sn(jóiiñfj(gîmhósno(®ìroni(um(umîgìr(èmrfmp(–èmì(ni(
om(nriP(jèrñm(èi(om(ñîrhsfJ
Rsgó(isnin(~FBv(jgópiswin(vÃjjin(¨ïml(kmnfh(órui(hm(pshi(inkîijjP(umîlvijP(–ni(
vmpr(kr(ji(nrñsji(pmvrnf£–kr(ji(prjñîsnsfJ
©ósîi(hpïsno(hm(ûnk(ôrgikmnsrn(iúlsurîinhj(òmp(hói(rwmui(iñîrsnik(sksmvjP(
hói( pijirpgó( rj( grppsik( snhm( iòòigh( hm( hói( ihinh( hórh( vmjh( mò( hói( sksmvj( inhrsî(
rn(iúlsurîinhJ(dmiuipP(hóipi(rpi(jmvi(snjhrngij(sn(ósgó(hóiï(km(nmh(ñmjjijj(
mniJ(©i(piòip(óipiwï(hm(hói(glîhlprî(ksòòipingij(wihiin([ipvrn(rnk(ôrgikmnsrn(
jmgsihsijP(snjhrngij(óipi(mni(grnnmh(ûnk(iúlsurîinhj(wigrlji(mò(hói(îrgè(mò(jsvsL
îrpshsijJ(dipi(i(grn(vinhsmn{(jsgó(isni(©mîò(jgópiswin(vÃjjin(¨ïml(kmnfh(órui(hm(
pshi(inkîijjP(umîlvij(£(ni(vmpr(hmîèl(vnmol(kr(ji(ñsjlurP(kr(ñsjlur(giîs(pmvrns£
kr(ji(prjñîsnluræ(kip(drón(sv(ümpw(jisn(¨èrèm(wlwpio(um(îmìæ(m(jsgó(drji(lnk(
blgój(olhi(Wrgóh(jroin(£(¨nr(èprì(nr(juihmhP(èrki([mjñmk(pièmî(wmolvJ
Uò(i(irvsni(hói(ôrgikmnsrn(rnsvrî(sksmvj(i(grn(jiiP(rj(ñpiusmljîï(jhrhikP(
jlgó(sksmvj(sn(ósgó(hói(jrvi(rnsvrî(rj(sn(hói([ipvrn(mni(mgglpjP(rnk(jlgó(hórh(
gmnhrsn(rnmhóip(rnsvrî(nrvi(¨snjhrngij(wrjik(mn(hói(glîhlprî(ksòòipingij(rîpirkï(
vinhsmnikJ(Vói(òmîîmsno(ñiphrsn(hm(sksmvj(ióswshsno(¨rîvmjh(hói(jrvi(rnsvrî{(
si(Rrpksnin(sn(kip(aÃjgói(¨èrèm(psws(£(èrèm(jrpksns(um(èmnipuræ(isn(dlnkiîiL
win(òÃópin(¨suii(èrèm(èlgi£umks(èlgijès(sumhP(üpmèsksîinhpœnin(¨èpmèmksîjès(
jmîsP(ürh(lnk(ôrlj(jñsiîin(¨sopr(vrgèr(U(oîljigæ(sopr(jm(nièmom(hmñîmLîrknmJ
Qj( òmp( sksmvj( gmnhrsnsno( mhóip( nrvij( mò( rnsvrîjP( mp( gmnhrsnsno( nm( rnsvrîP( i(
órui{(is(bîsioin(vsh(isnip(üîrññi(jgóîroin(¨jm(ikin(èlpjlv(kur(rìrèr(lwsur(
¨kui(vlus(hiñrP([œnjiórlh(wièmvvin(¨vl(ji(nris(èmrhrP(bpmjgóñipjñièhsui(
¨moprnsgin(ñmoîikP(ksi(ürhi(rlj(kiv(Rrgè(îrjjin(¨èrjnrî(nmor(mk(èmèmjèr£skrî(
hrìnrP(kip(òpÃói(cmoiî(òœnoh(kin(©lpv(¨hói(irpîï(wspk(grhgóij(hói(mpv£èmì(prnm(
prnsP(kui(jpiès(oprws(mp(èmì(ñpiurpsP(hmì(hmurps(mp(prnm(ñsîiP(prnm(ñiiæ(cmoiî(òpsjjh(
mkip(jhspwh(¨shfj(jsnè(mp(jsv(£sîs(hpons(jiP(sîs(ñmèîmns(ji(mp(ñîsurì(sîs(lkrus(ji£(kip(
Rgórn(ikiîh(vsh(kiv(dlnk'¨hm(ro(hói(kmo(–nièmvl(jèpinlur(unsvrnsifP(jis(
èisn(bpmjgó(8(®ni(wsks(èlèrusgrP(ñîrjîsuigP(jhprjîsuigP(prjsñlurg(nr(rwrusfP(si(ksi(
ürhi(lv(kin(óisjjin(apis(jgóîisgóin(¨vnmol(wmplurP(r(nsjhm(ni(èrlurJ
uO'3-/4,)'*X*,5/1/
uOlO'.JDq@DDJFp
Vói(ñpiusmlj(jighsmn(wpmloóh(òmphó(rn(rggmlnh(mò([ipvrn(rnsvrî(sksmvj(rnk(
hóisp(ôrgikmnsrn(gmlnhipñrphjJ(©i(órui(jiin(hórh(vmjh([ipvrn(sksmvj(inhrsî(rn(
33

U9CEA:A)`QA:FQ=RAl)T=>G9H)a9PF:@)jGF=kC@G
iúlsurîinhP(wlh(r(nlvwip(mò(sksmvj(jhsîî(pivrsn(ósgó(wirp(nm(piñpijinhrhsmn(sn(
hói(ôrgikmnsrn(îrnolroiP(r(òrgh(snklgik(wï(glîhlprî(ksòòipingijJ(Vóiji(glîhlprî(
ksòòipingij(rîjm(kihipvsni(r(jósòh(sn(hói(lji(mò(rnsvrî(nrvij(shósn(hói(hm(îrnL
olroij(pijlîhsno(sn(kïnrvsg(iúlsurîinhjJ
Xiiñinsno(mlp(snuijhsorhsmn(i(û(nk(hórhP(òpmv(å§(ôrgikmnsrn(gmlnhipñrphjP(
Hå(¨§ã«(km(nmh(ióswsh(rnsvrî(nrvijP(hómloó(sjjlsno(hói(jrvi(virnsnoJ(UnhipL
ijhsno( inmloóP( òpmv( hói( pivrsnsno( ôrgikmnsrn( rnsvrî( iúlsurîinhjP( K§( ¨Hå«(
mwjipui(hói([ipvrn(gómsgi(mò(hói(rnsvrîP(ósîi(hói(mhóip(Kå(¨Hâ«(hrèi(r(ksòòipL
inh(rnsvrî(nrviJ(bmp(r(gîirp(ñipjñighsui(jii(û(olpi(KJ
bsolpi(K{(ôrgikmnsrn(gmlnhipñrphj(mò([ipvrn(rnsvrî(sksmvj(¨Hå«(mwjipui(hói(
[ipvrn(gómsgi(mò(hói(rnsvrîæ(Hâ«(hrèi(r(ksòòipinh(rnsvrî(nrviæ(§ã«(km(nmh(
ióswsh(rnsvrî(nrvijJ
34
uOmO'YFpqB@DJFpD
Vóipi( sj( nm( ñipòigh( iúlsurîingï( wihiin( [ipvrn( rnk( ôrgikmnsrn( sksmvjJ(
©i(órui(ñpmuin(hósj(òmp(r(òrgh(sn(hói(rwmui(jighsmnjJ(©i(gmlîk(snòip(hósj(òpmv(
hói(rnrîïjsj(mò(hói(å§([ipvrn(rnsvrî(sksmvj(ñpijinhikP(mò(ósgó(K§(ksjñîrïik(
ôrgikmnsrn(gmlnhipñrphj(¨Hå«(mò(hói(sksmvj(rnk(rghlrîîï(pijñighj(hói(gómsgi(mò(
hói([ipvrn(rnsvrî(nrvi(rnk(ñpijipui(sh(shósn(ôrgikmnsrn(îrnolroiJ(
Qnmhóip(gmngîljsmn(hórh(grn(wi(kprn(sj(hórh(mni(mò(hói(kihipvsnipj(mò(hósj(
¥svñipòighø(iúlsurîingï(sj(hói(glîhlprî(ksòòipingi(wihiin(hói([ipvrn(rnk(hói(
ôrgikmnsrn( jmgsihïP( gmnòippsno( ksòòipinh( pmîij( hm( hói( jrvi( rnsvrîJ( ©órh( i(
gmlîk(gîirpîï(jii(rj(hórh(jmvi(sksmvjP(jlgó(rj(hómji(shó(¥grhø(rnk(¥û(jó¥P(órk(
rn(rîvmjh(ñipòigh(mpkLòmpLmpk(hprnjîrhsmn(sn(ôrgikmnsrnJ

QWUôQZ(UXUSôR(UW([Y`ôQW(QWX(VdYU`(ôQTYXSWUQW(Y]\UcQZYWVR
©i(km(wiîsiui(hórh(hósj(èsnk(mò(pijirpgó(sj(niikik(rnk(grn(wi(uipï(óiîñòlî(sn(
mpkip(hm(wi(rj(rgglprhi(rj(ñmjjswîi(óin(hprnjîrhsno([ipvrn(jñigsrîsik(mp(nmnL
jñigsrîsik(hihj(snhm(ôrgikmnsrn(rnk(usgi(uipjrJ(Slp(snhinhsmn(sj(hm(gmnhsnli(mlp(
pijirpgó(inîrposno(mlp(jgmñi(wiïmnk(hói(rnsvrî(mpîkJ
3-L-3-XY-/
arèipP(ôJ(¨YkJ(HMMK{(`mlhîikoi(Yngïgîmñiksr(mò(Vprnjîrhsmn(RhlksijJ(Wi(†mpè{(`mlhL
îikoiJ
Uksmvj{(ªSnîsni({(óhhñ{££JîirpnñîljJgmv£olskij£oipvrnLsksmvjJóhvîJ
Zlnol(arkirP([J(¨HMMçJ(Xsghsmnrpï(mò(hipvj(ivñîmïik(sn(hói(hóimpïP(ñprghsgi(rnk(kskrgL
hsgj(mò(hprnjîrhsmnJ(Vsvsjmrpr{(YkJ(SpsmnhlpsJ
crporP(QJ(…([pmjîipP(QJ(¨HMMäJ(Qnsvrî(sksmvj(rnk(hóisp(pmvrnsrn(iúlsurîinhjJ(Zlgprps(
jhssnhûgi( §M( ¨çP( brglîhrjhir( ki(QopsglîhlprP( \RQôcaP(VsvsjmrprP( `mvrnsrP( çãIL
çâçJ
Qjhpsk(RJ([pmjîip(Sn(hói(`mvrnsnrn(iúlsurîingï(mò(rnsvrî(sksmvj(sn(Ynoîsjó{(emlpnrî(
mò(îsnolsjhsg(jhlksijP(Qnlî(U(WpJ(KJ(ãåLâMJ
BILJANA IVANOVSKA
ASTRID SIMONE GROSZLER
UXUSôYR(QZZYôQWXR(TSWVYWQWV(ZYR(WSôR(XfQWUôQ\¢
(YV(ZY\`(_]\UcQZYWVR(ôQT_XSWUYWR(
`tjlvt
Wmhpi( pigóipgói( r( gîrspivinh( vmnhpt( úli( wsin( úli( îr( ñîlñrph( kij( sksmvij( rîîivrnkj(
gmnhinrnh(îi(nmv(kfln(rnsvrî(svñîsúlinh(ln(túlsurîinh(vrgtkmnsin(kl(ñmsnh(ki(uli(ki(
jtvrnhsúliP(gij(gmnhpiñrphsij(ni(ñpinninh(ñrj(hmlìmlpj(îi(nmv(kfrnsvrîJ(Zij(nmvj(kfrnsL
vrl((ñiluinh(”hpi(pivñîrgtj(ñrp(îij(nmvj(gmngpihj(rljjs(wsin(úlfrwjhprshjJ(Rs(nmlj(irL
vsnmnj(îij(sksmvij(rîîivrnkj(nmlj(ñmlumnj(umsp(úlfsî(ï(r(kij(grj(ml(îi(v”vi(rnsvrî(ji(
hpmlui(krnj(îij(sksmvij(kij(kil(îrnolij(irvsntijP(vrsj(rljjs(úli(îij(nmvj(kfrnsvrl(
ñiluinh(ksòòtpingsipP(gi(úls(ijh(k‘(rl(ksòòtpingij(glîhlpiîîijJ
Wmlj( rumnj( rnrîïjt( kij( sksmvij( rîîivrnkj( hiîj( úli( {( çg@9) vC9@;@:) P9>) @9:@G) YCABB@)
=bJCA;@:)mé=F)@H@:)

U9CEA:A)`QA:FQ=RAl)T=>G9H)a9PF:@)jGF=kC@G
=@bI)S)I9;GA)>FBCFrCAH:FInl)g9@)H9@)YA>k@)

$%&'&(&#)*+,-&
/01&(&#2,3)*-4)&
V\P!TPTS\'R\]"fTT'UQ'c"P\#QR!PTQSÄ'
]\$c"R!PTQS'T'"R]VT!PTQS'&"WTP
+;Ç( >=ÇC}?@Ç@( =CE@~>Ö@P( ?;Ö@( ?@?;( yBC=( ACL
B@~>F?>( y( ;yÉ@’@( :;ÇC( E( ?;>( FC( =@Öy;Az;G=>( =@( y( B;(
zC?F>}?>;Ç(F;FÇ@BP(>(Ç;@(>OC=?>ÇCP(yA@B?>ÇC(>(Ez@E;z>ÇCP(?@?;(B;(O@?CA;=F?>;ÇP(
Ç@?@(>(B;(EC;Ç(>(@=Ez>F?>;Ç(Ö@>?J(
)@CA=>}?@(?@?@(=@(F>ÇC(Ç(~Cz=>(Ö@>?@(C(y;FÇ;CàCÇ;(=@(ÇJ=J(zC?F>}?@(
=CE@~>Ö@P(?;Ö@(y(F=ÑCB=@(¨>BCAC=@(=CE@~>Ö@J(
0@|@(~Cz(B;(;B;Ö(ÇFÇ>=?~>Ö@(
y;OC÷N(AB@Ç@(B>A@(zC?F>}?>(=CE@~>>(B;(ÇÇC(~Cz=>(Ö@>?@(yÇ;@(?;FÇCÖ’>(E>(
OCÇ;A>ÇC(>(y;FÇ@y?>ÇC(@(?;=ÇB=@(@=@z>@J
ë*4N'#)2í5"5,#k'zC?F>}?@(=CE@~>Ö@P(Ö@>}=>(?@?>P(?;=ÇB=@(@=@z>@J(
lO'V\P!TP"'R\]"fT&"
3;B;Ç(G>B;Ç(FC(?@(>(:(y(B;(F>ÇC(
;:z@FÇ>(;A(G>B;Ç;Ç(>(ÇC(
|Ç;(E>(=;F>(=;B;Ç;(B

ì"(+('()ë5î%,(l)K#ï('()!%./5,-/(
+;Ç(>=ÇC}?@Ç@(=CE@~>Ö@P(?;Ö@(?@?;(yL
BC=(ACB@~>F?>(y(;yÉ@’@(:;ÇC(E(?;>(FC(=@Öy;Az;G=>(=@(
y(B;(zC?F>}?>;Ç(F;FÇ@B(>(Ç;@(>OC=?>ÇCP(yA@B?>ÇC(>(Ez@E;z>ÇCP(?@?;(
B;(O@?CA;=F?>;ÇP(Ç@?@(>(B;(EC;Ç(>(B;(@=Ez>F?>;Ç(Ö@>?J(
*=@z>@Ç@( =@( zC?F>}?@Ç@( =CE@~>Ö@( ’C( FC( B( B(’C(:>AC(>zNFÇ(;A(O@?CA;=F?>(Ö@>?(
y( =@( EC( >( =@( @=Ez>F?>( Ö@>?P( F;( yOC=@( =@( É;ÇC(B;(;A=;F(=@(
yOC=@Ç@(=@(=CE@Ç>B=>ÇC(?;=FÇ>(B;(EC;ÇP(@=Ez>F?>;Ç(>(O@?CL
A;=F?>;Ç(Ö@>?(>(y@P(A@(FC(y;?@GC(A;(?;Ö(FÇCyC=(FC(
ANB@@Ç(ÇÇC(Ö@>?@(?;E@(=>B=@(@CA=>}?@(~Cz(C(;AÖ@Ç@(B;(CAC=(Ö@>?(C(>=ÇCFÇ(F@O@(
y;(FC:C(O;|=C(;:CO=@(Ç@?@(|Ç;(FC(=@OCÇ=NB@(y;Ç?(>O@(y;BC’C(y?F>(?;>(F;A@L
B@@Ç(=CE@Ç>B=>(:;(;A(?;>(=@ÖyBC=(C(@pÅk((iG@F?>;Ç(>FÇ;(Ç@?@(C(@pÅk((=B@b9AC)1)un=B@b9ACP(?@?;(>(JEÅÇ'JBÅ'JpO'
3Cy@?P(>O@(CA=@(F>E=>É>?@=Ç=@(?@P(@(Ç;@(C(Fy;F;:=;FÇ@(=@(=CE@Ç>B=>ÇC(
ACB@Ç>B=>(O;(A@(F;A@B@@Ç(?;=Ç?Ç;(>z>(?;=Ç(y(|Ç;(?;=Ç?Ç;ÇC(FC(B>A;B>(?;>(E>(>F~ÇC(O;G=;FÇ>P(
Ç@?@( |Ç;( B;( ?;>( :>z;( NFz;B>( =@( ;Ç( }zC=( =@( ?;=ÇL
?Ç;~>Ö@(C(B>FÇ>=>ÇP(@(A;Ç(z@GC={(hA~>>(}zC=;B>ÇCP(=C(Ö@(>F?zN}NB@@Ç(F=@Ç@P(
Ç@?@(|Ç;(=>CA=@(;A(ABCÇC(FyB=;FÇ>(=C(C(Ç;}=@P(=;(FC(;FÇ@B@(O;G=;FÇ(=@(
A@Ç@{(9:>@CC9;@:>)r)un9:>@CC9;@:>s)%;?ON(y;(B@?B@Ç@(FyC~>L
É>}=;FÇP((zC?F>}?@Ç@(=CE@~>Ö@(@FzNGNB@(E;zCO;(B=>O@=>C(>(:>(Ç(y;E;zCO(y(E;(;B@(B;(yAP(
;B;Ö(Ç(E;(y;FBCÇNB@OC(Ç;?ON(=@(zC?F>}?@Ç@(=CE@~>Ö@J
1C?F>}?@Ç@(=CE@~>Ö@(C(;A}?>(FB;P(y(|Ç;(FC(?NB@@Ç{
KJ(>=ÑCB=@(¨>BCAC=@(=CE@~>Ö@J(
çä

1.43,°4,%.(0.2*Ü,,(&'(-*4.!'034,'%P(2."-*034,'%(,(JJJ
lOlO'T;É696;Ñ;>'ÖÜá9>:6;>à';6á>='
`PBC9k9>@)Ä@;A>9F:((B;(EC;Ç(>(9PBC9b9>):@;A>9F:(B;(@=Ez>F?>;Ç(Ö@>?(
FC(;A=CFNB@(y(F@O>(y;(FC:C(>O@@Ç(;ABCL
FC=(:(B;(F>ÇC(Ç(Ö@>~>(?;>(y;?@GNB@@Ç(FyC~>É>}=;FÇ(=@FyFz@(|Ç;(>O@@Ç(BE(=@(F;(BEÖ@ŸJ
4;E@(E>(>=ÇCP(?;E@(FC(;:>ANB@OC(A@(E;(;:Ö@F=>OC(
F;(A(:;(¨Ez@E;z>(=>B=;Ç;(=@}CàCP(Ö@Ç@(BEy(FC(Ö@BNB@(=@(
y;B=@Ç@(y(>=ÇC

ì"(+('()ë5î%,(l)K#ï('()!%./5,-/(
3;(;B@(y;ÇBFÇ>=@(=C(O;GC(A@(Ny;Ç(=CE@~>Ö@(
>(Ez@E;z(F;(BEÖ@(ÇJCJ(:;(A;:>zC(F;FCO@(}=;(=@}CàC(;A(;=@(|Ç;(=>C(
F@?@OC(A@(E;(>F?@GCOCJ
lOmO''#69Ñ'Öà';6á>='
&;(EC;Ç(Ö@>?(y;=@Ç@(y;A(>OCÇ;(@ñBC9k9>@)Ä@;A>9F:l(B;(@=Ez>F?>;Ç(
?@?;(iñîsgsh(niorhsmn(;=@}NB@(Ny;ÇB=>(O;(@(>BCANL
B@àC(=@(zC?F>}?>(CA>=>~>J(!CB@~>Ö@Ç@(yA@Ç(F;FÇ@BC=>(;A(y;BC’C(O;P(=;(B;(=@ÖE;zCO(:(B;(FÇ;Ç(ACz(¨yB>(@É>?F>ÇC(¨?@?;(FB@(ACB@Ç;ÇJ('F=;B@Ç@(
FC(?@?F>ÇC(
E;(>(B;(:;C(B=CFNB@@Ç(}=>(=@}Cà@P(?@?;P(=@(yOC~@P(
y=@~>P(y(>(FzJ(&;(O@?CA;=F?>;Ç(Ö@>?(?NB@OC(AB@(B>A@(ACL
B@Ç>B>(@(>}?@Ç@(=CE@~>Ö@(>(Ç;@{
KJ(ACB@Ç>B(F;(y?F(>
HJ(ACB@Ç>B(F;(FNÉ>?FJ
*É>?F>ÇC( ¨y?F>( >z>( FNÉ>?F>( FC( zC?F>}?>( CA>=>~>J( &@?B>;Ç(
Ç?F>ÇC(y;FÇNz>É>?@~>Ö@(F;Ez@F=;(;y|Ç>ÇC(FB;ÖFÇB@(
=@(zC?F>}?>ÇC(CA>=>~>J(0@(@É>?F>ÇC(F;(;B@@(ÇC;Ö@(>O(FC(y|NB@(F;yL
FÇBC=@(É;=;z;|?@(>(FCO@=Ç>}?@(É;(zC?F>}?@(?@ÇCE;Ö@(¨:;z=@(;A(y}>=@(|Ç;(;F;:C=;(
@É>?F>ÇC(FC(B;(E;zCO@(OCFCO>(>(ÇC|?;(:>(O;GCz;(A@(FC(;y(
=>B=;Ç;(=@}CàC(>(=>B=@Ç@(?@ÇCE;Ö@J 3 (3NÉ>?F>ÇC(FC(B;(F;FÇ;Ö:@(A@(E>(;yL
(=@(?;OyzC?F=>ÇC(:;(¨>BCL
AC=?>(>z>(Fz;GC=?>J(
K( ( )J(-N(¨HMMå{K§ç
H( ( 3J(&CzCB@(¨HMMã{(Hâ
ç( ( 3J(3>O;F?@(¨HMMH{çã
§M

1.43,°4,%.(0.2*Ü,,(&'(-*4.!'034,'%P(2."-*034,'%(,(JJJ
lOmOl'#69Ñ'ã6jå';6á>=':çé'åç'è96êÅ
j6:ç;åj)1)!"7"#6(­
.%*-/#P(A;?@(8'()#*&+05/(2l(O>z;Fz>B(8'%".O>z;Fz>BJ
'FBC=(;B>C(y?F>(FC(?;FÇ@Ç(>(y?F>ÇC(;A(ÇN÷;(y;ÇC?z;(?@?;(|Ç;(
FC{(/!*&,-'/,-'$",-'$&0,-'1#!*)/,'{(FCO>Ç>@OL(/!*&FCO>Ç>@OP(@?Ç>B>É>?NB@P(y

ì"(+('()ë5î%,(l)K#ï('()!%./5,-/(
çJ(+?F;Ç(pFpÅ'?;=FÇ(O;ACz>P(y@(@L
Ç;@(=C?;>(;:(~Cz;F=;(y{) nonRF:iFGP9=>9bs
§J(,FÇ;(Ç@?@P(>(y?F;Ç'HAÅ'C(O=;EN(O@z?N(@FÇ@yC=k'deb@:>GACs
åJ(+?F;Ç(HJDÅ'ÖHJÅÄ'HJvÅà(C(Fz@:;(C=(?@Ö(yA@B?>ÇC(B;(EC;Ç(Ö@>?k'disFG9@:>AC-'234BGFBFG>9F:AC.((((
lOmOm'V6jå';6á>='åç'å8ê;Ç(Ö@>?(=C(y;FÇ;Ö@Ç(FNÉ>?F>(@(E}?@(=CL
E@~>Ö@J(!CB@Ç>B=@(zC?F>}?@(=CE@~>Ö@(A;:>C=@(F;(FNÉ>?F(?@?;(B;(EC;Ç(Ç@?;(>(B;(@=Ez>F?>;Ç(Ö@>?J''B@@(=CE@~>Ö@(C(=@@)Ä@;A>9F:)
m@ñBC9b9>)):@;A>9F:n)|Ç;(B;(y å (Ö@F=;(>F?@G@=@P(A>(B;(@=Ez>F?>;Ç(Ö@>?(y;FÇ;Ö@Ç(
FNÉ>?F>(F;(}>C(A;A@B@àC(FC(A;:>B@(B@?B@(zC?F>}?@(=CE@~>Ö@P((@(Ç;@(FC(FNÉL
>?F>ÇC{(í'BFD'ÖÅBADDà'>''ÅvKAJ'ÖÅ'vKAAàP(?;Ö(C(yFNÇC=(F@O;(?@Ö(yA@B?>ÇC(B;(
EC;Ç(Ö@>?({)f@9=B9@C564-'i@JC@G7893-''@(>(?@Ö(>OC=?>ÇC(>(Ez@E;z>ÇC B;(
@=Ez>F?>;Ç{(bAG@lessl)=FÇC(Ç(5J(¨KIãâ{(ô"($(.#/()'()$(/%05'-/#5.)*#.%"(.4"%')6(2#/l)ACz(U(>(UUP)4NzL
ÇNO;F?@(3J(¨HMMH{(ó*5õ%'#)#$%'/#),5)+%"$('-/#5.)#),5)$(/%05'-/#5.))6(2#/)1)
/5'"(-.#,'() ('(*#2(l) A;?Ç;FCÖ@( 8( 3?;yÖC{( 7>z;z;|?>( É@?NzÇCÇ(
5z@GC(4;=CF?>¥J
aprkîiï(L(RvshóP(RJ(KIââ(úo@A:9:;)A:H)Ä@;A>9F:ùs)8A:;e)Fi)TP@G9bA{(cmîlvi(åçP(WlvwipJ(HJ(arîhsvmpi{(©ruipîï(^pijj(Ung{(§ç§L(§§H
dlkkîijhmnP(`J(KIä§(`:>GFH9F:)>F)>J@)jGAPPAG)Fi)]:;C9=JJ(Trvwpskoi{(Trvwpskoi(
\nsuipjshï(^pijjJ
eijñipjinP(SJ(KIKâ(]==@:>9AC=)Fi)]:;C9=J)jGAPPAGJ(Zmnkmn{([impoi(Qîîin(rnk(\nsn(
ZhkJ
ZiigóP([J(rnk(RurphsèP(eJ(KIâå(T)cFPP9Q@)jGAPPAG)Fi)]:;C9=JJ(Zmnkmn{(Zmnovrn(
[pmlñ(ZsvshikJ
å
( ()J(-N(¨HMMå{(KäH
§H

1.43,°4,%.(0.2*Ü,,(&'(-*4.!'034,'%P(2."-*034,'%(,(JJJ
$%&'&(&#)*+,-&
/01&(&#2,3)*-4)&
ZY¢UTQZ(WY[QVUSWR(UW(ôQTYXSWUQWP((
[Y`ôQW(QWX(YW[ZURd(ZQW[\Q[Y
ayP(-@?CA;=>Ö@
iLvrsî{(kprornrJèmgiurÀlokJiklJvè
5>Å@=@(+CÇ?;BF?@
#=>BCÇCÇ(2;~C(!Cz}CB¥L($Ç>yP(-@?CA;=>Ö@
iLvrsî{(wsîìrnrJñihèmujèrÀlokJiklJvè
43

67897#:;6;98;;?
)b3--'YZX)-_)/'LZ3')b-'4/-'ZL')b-'.-L1X1)-'
*3)1Y,-'1X')b-'Y*/-'ZL'/-3+1*X',l(-X`,1/b',m'
/a-*{-3/'
bmp(jhlkinhj(ómji(ZK(sj(RipwsrnP(hói(rphsgîij(mò(hói(Ynoîsjó(îrnolroi(rpi(mni(mò(hói(
vmjh(ksòûglîh(oprvvrhsgrî(grhiompsij(hm(rgúlspiP(rj(r(kspigh(gmnjiúlingi(mò(hói(îrgè(mò(
rn(iúlsurîinh(oprvvrhsgrî(grhiompï(sn(hói(Ripwsrn(îrnolroiJ(Qj(hói(ûpjh(jhiñ(sn(jmîusno(
hói(ñpmwîiv(mò(rphsgîi(rgúlsjshsmnP(i(rjèik(hói(úlijhsmn(mò(óihóip(klpsno(hóisp(ïirpj(mò(
jhlkï(rh(hói(hiphsrpï(îiuiîP(hói(jhlkinhjf(ènmîikoi(rwmlh(hói(gmppigh(ljij(mò(hói(kiûnshi(
rphsgîi(sn(Ynoîsjó(górnoijJ(Rmvi(rlhómpj(¨ZïmnjP(KIIIæ(dlkkîijhmni(rnk(^lîîlvP(HMMH(
gshi(isoóh(ksòòipinh(gmnhihj(òmp(hói(lji(mò(hói(kiûnshi(rphsgîi(sn(YnoîsjóP(mò(ósgó(i(
óruiP(òmp(hói(ñlpñmji(mò(hósj(pijirpgóP(jiîighik(hópii{(H@{:9>@:@==)>JGF9F:l)
H@{:9>@:@==)>JGF@:@==)>JGF

oAG>A)^9P9>G9E@Q9û
wi(òmlnk(hórh(gmlîk(óiîñ(ljP(wlh(jmvihsvij(hói(hirgósno(rskj(hórh(i(rpi(mòòipik(
ishóip(mn(hói(snhipnih(mp(sn(hói(urpsmlj(umîlvij(rnk(hihwmmèj(mn(mòòip(hópmloó(
hói(vrìmp(ñlwîsjósno(ómljij(rpi(ìljh(nmh(rññîsgrwîi(sn(mlp(hirgósno(jshlrhsmnJ(Vm(r(
opirh(ihinh(hósj(sj(kli(hm(hói(sksmjïngprjsij(mò(irgó(snksusklrî(ZK(mò(mlp(jhlkinhjP(
irgó(mò(ósgó(jihj(lñ(r(ksòòipinh(wrjsj(mn(ósgó(hói(jhlkinhj(wlsîk(hóisp(ènmîL
ikoi(mò(YnoîsjóP(rj(uipï(òi(mò(hóiv(órui(órk(hói(mññmphlnshï(hm(jhrph(jñirèsno(
Ynoîsjó(sn(r(nrhsui(inuspmnvinhJ(bmp(hósj(pirjmnP(sh(sj(svñmphrnh(òmp(lj(rj(Ynoîsjó(
hirgóipj(ómji(jhlkinh(ZK(sj(Ripwsrn(hm(skinhsòï(hói(ñrphsglîrp(ñpmwîivj(hóiï(rj(r(
opmlñ(órui(sn(mpkip(hm(wijh(pighsòï(hóivJ(Uò(i(ipi(hm(lnkipjhrnk(hói(ñpmgijj(mò(
hói(rgúlsjshsmn(mò(rphsgîij(wihhipP(i(gmlîk(ûnk(r(rï(hm(òrgsîshrhi(sh(rnk(hm(îirpn(
vmpi(rwmlh(Zrnolroi(sn(oiniprîJ
Sni(mò(hóiji(ñpmwîivj(sj(hói(lji(mò(hói(Ynoîsjó(rphsgîi(jïjhivP(rj(Ynoîsjó(sj(
r( ª¡Q`V( rnk( Ripwsrn( r( ªLQ`V( îrnolroi( ¨´mp⁄iusíP( KIäIæ(VpinèsíP( HMM§J(Vm(
úlmhi(Vpinèsí{(¥nm(jhplghlprî(piñpijinhrhsmn(sn(hói(jïnhr(ªmò(Ripwsrn(sj(òmpvik(
hórh(mlîk(gmppijñmnk(hm(hói(oprvvrhsgrî(grhiompï(mò(kiûnshinijjP(ósgó(virnj(
hórh(hóipi(gmlîk(wi(nm(îsnolsjhsg(iîivinhj(ósgó(rpi(iñmninhj(mò(hósj(oprvvrhsgrî(
grhiompï(¨HMM§{(K§MHP(rlhómpfj(gmvvinhJ(VóljP(mlp(jhlkinhj(órui(nm(oprvvrhsgrî(
iúlsurîinh(mn(ósgó(hm(wrji(hóisp(ènmîikoi(rnk(lji(mò(hósj(oprvvrhsgrî(grhiompïP(
nm(iúlsurîinh(ZK(grhiompï(hm(òrgsîshrhi(rgúlsjshsmnJ(bmp(hói(ñlpñmji(mò(wihhip(rgúlsL
jshsmnP(i(órui(rhhivñhik(hm(skinhsòï(hói(vmjh(ñpmwîivrhsg(rpirj(sn(hipvj(mò(hói(gmnL
hihj(òmp(hói(lji(mò(hói(kiûnshi(rphsgîi(óipi(ZK(Ripwsrn(jñirèipj(mò(Ynoîsjó(vrèi(
hói(vmjh(vsjhrèijJ(Uò(i(ipi(rwîi(hm(skinhsòï(hóiji(ñpigsji(gmnhihjP(i(mlîk(wi(
sn(r(ñmjshsmn(hm(òmglj(mn(hóiji(ñpmwîivrhsg(rpirj(rnk(jhrph(jmîusno(hói(èiï(ñpmwîivj(
mlp(jhlkinhj(òrgi(sn(hói(ñpmgijj(mò(hói(rgúlsjshsmn(mò(kiûnshi(rphsgîi(ljiJ
§ã
lOlO')tA'qFpDGJG@ApGD'Fv'GtA'-pxBJDt'oKGJqBA'DrDGAE
Vói(rphsgîij(mò(hói(Ynoîsjó(îrnolroiP(hói(kiûnshi(rphsgîi(>J@l)snkiûnshi(rphsgîi(
A)rnk(hói(ipm(rphsgîiP(wiîmno(hm(hói(wpmrkip(gîrjj(mò(kihipvsnipj(rîmno(shó(ñmjL
jijjsuij(rnk(kivmnjhprhsuijP(ìljh(hm(nrvi(r(òiJ(Un(YnoîsjóP(lnîsèi(sn(RipwsrnP(hói(
iîivinhj(mò(hói(gîmjikLjïjhiv(mò(kihipvsnipj(grn(mnîï(òlnghsmn(rj(ñpivmksûipj(
rnk(rpi(sn(gmvñîivinhrpï(ksjhpswlhsmnJ(Vóipi(rpi(hm(ksòòipinh(jïjhivj(mò(rphsgîi(
lji(ósgó(kiñink(mn(hói(hïñi(mò(piòipingi(wisno(ijhrwîsjóik(wï(hói(rphsgîijP(rnk(
wmhó(grn(wi(rjgpswik(hm(hói(kiûnshi(rphsgîi{(jñigsûg(piòipingi(rnk(oinipsg(piòipL
ingiP(wmhó(mò(ósgó(grn(wi(sîîljhprhik(shó(hói(irvñîi(>J@)>9;@GP(ósîi(hói(ksòòipL
ingi(sn(piòipingi(mlîk(gmvi(rj(hói(pijlîh(mò(lji(sn(ksòòipinh(gmnhihjJ
^ihip(ôrjhip(orui(ósj(mn(gîrjjsûgrhsmn(mò(hói(Ynoîsjó(rphsgîi(jïjhiv(sn(ósgó(
ói(vrki(r(ñpmusjsmn(òmp(rn(rkkshsmnrî(rphsgîiJ(Un(ósj(ñrñip([J@)]:;C9=J)AG>9bC@)
=e=>@PÇ)Ab?9F:l)i9F:)A:H)B@HA;F;eP(ói(mlhîsnik(hói(òmîîmsno{(hói(kiûL

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
nshi(rphsgîi(>J@l)hói(snkiûnshi(rphsgîi(AP(hói(ipm(rphsgîi(üÅP(rnk(hói(nlîî(rphsgîi(Ø2(
¨KIIâ{(HHKLHHåJ(Vói(pirjmn(wiósnk(hói(®ihprf(rphsgîij(îsij(sn(hói(òrgh(hórh(hói(
kiûnshi(rphsgîi(>J@)sj(nmh(gmnjskipik(hm(wi(hói(vmjh(kiûnshi(mò(rîî(hói(rphsgîijJ(Vósj(
górprghipsjhsg(sn(òrgh(sj(pijipuik(òmp(hói(nlîî(rphsgîi(Ø2J(Qnk(hói(snkiûnshi(rphsgîi(
rggmpksno(hm(hósj(ksusjsmnP(sj(nmh(hói(snkiûnshi(rphsgîi(A(wlh(hói(ipm(rphsgîi(üÅJ(
Vói(rï(hórh(hói(opmlnk(sj(ksuskik(wihiin(hói(ipm(rnk(nlîî(rphsgîi(sj(rj(òmîîmj{(
hói(ipm(rphsgîi(rggmvñrnsij(snkiûnshi(nmnLgmlnh(nmlnj(rnk(ñîlprî(gmlnh(nmlnjP(
ósîi(hói(nlîî(rphsgîi(rggmvñrnsij(jsnolîrp(ñpmñip(nmlnj(mp(jsnolîrp(gmlnhrwîi(
nmlnj(sn(rîhiprhsmn(shó(>J@s
lOmO'.AñpJGApADD'Jp'-pxBJDt'opH'/AKyJop
Yuin( hómloóP( rj( i( órui( ñpiusmljîï( jhrhikP( hói( Ripwsrn( îrnolroi( kmij( nmh(
ingmki(hói(oprvvrhsgrî(grhiompï(mò(hói(kiûnshi(mp(snkiûnshi(rphsgîiP(hósj(kmij(
nmh(virn(hórh(nmlnj(sn(Ripwsrn(rpi(lnvrpèik(òmp(hói(grhiompï(mò(kiûnshinijjJ(
´mp⁄iusí(jhrhij(hórh(giphrsn(nmlnj(sn(hói(Ripwsrn(îrnolroi(rpi(snóipinhîï(kiûnshiP(
jlgó(rj(ñpmñip(nmlnjP(ósîi(giphrsn(jigmnkrpï(kihipvsnipj(grn(wi(ljik(hm(vrpè(r(
nmln(rj(ishóip(kiûnshi(mp(snkiûnshi(kli(hm(hói(îrgè(mò(hói(gmppijñmnksno(rphsgîi(sn(
RipwsrnJ(Vói(òmîîmsno(hrwîiP(wrjik(mn(´mp⁄iusíP(KIäI{(§KåP(jómj(hói(Ripwsrn(
¨hprnjîrhsmnrî(iúlsurîinhj(òmp(hói(kiûnshi(rnk(snkiûnshi(rphsgîi(sn(YnoîsjóJ
LFK'GtA'JpHAñpJGA'oKGJqBA'a(n)
Unkiûnshi(kihipvsnip
Wlviprîj(jlgó(rj(F:@
Unkiûnshi(rkuipwj
Xivmnjhprhsuij(jlgó(rj(>JA>
Qkìighsuij
Wiorhsui(òmpvj
Wmln(ñóprjij
LFK'GtA'HAñpJGA'oKGJqBA'the
Xivmnjhprhsuij
^mjjijjsuij
[iniprî(kihipvsnipj(jlgó(rj(ACC
Unkiûnshi(kihipvsnipj
^ipjmnrî(ñpmnmlnj
õipm(iúlsurîinh
õipm(iúlsurîinh
Un(rkkshsmn(hm(hói(skir(hórh(hói(uipï(hïñi(mò(hói(nmln(grn(kihipvsni(shj(kiûnshi(mp(
snkiûnshi(jhrhljP(jlññmjikîï(hóipi(rpi(mhóip(rïj(òmp(vrpèsno(kiûnshinijj(rnk(snL
kiûnshinijj(sn(Ripwsrn(rj(mlhîsnik(sn(´mp⁄iusí(¨KIäI(rnk(Vpinèsí(¨HMM§J(Vóiji(
sngîlkiP(rvmno(mhóipjP(mpk(mpkipP(hói(ñpijingi(mò(vmksûgrhsmnP(rnk(hói(rjñigh(
mò(rkìighsuijJ
ôrpèsno(kiûnshinijj(hópmloó(mpk(mpkip(sn(Ripwsrn(omij(rj(òmîîmjJ(Vói(snsL
hsrî(ñmjshsmn(sn(r(jinhingiP(mp(hói(>J@P@(ñmjshsmnP(sj(jlññmjik(hm(wi(vrpèik(òmp(
§â

oAG>A)^9P9>G9E@Q9û
kiûnshinijj(rj(hói(ñrph(grppïsno(hói(osuin(snòmpvrhsmnP(ósîi(hói(ûnrî(ñmjshsmnP(
mp(hói(GJ@P@l(sj(ljlrîîï(vrpèik(òmp(snkiûnshinijj(rj(sh(grppsij(ni(snòmpvrhsmnJ(
Vólj(wrjik(mn(hói(kiopii(mò(òrvsîsrpshï(jm(hm(jñirèP(hói(ûpjh(iîivinh(sj(virnh(hm(
wi(òrvsîsrpP(rnk(hólj(kiûnshiP(ósîi(hói(jigmnk(iîivinh(sj(virnh(hm(wi(jmvihósno(
ni(mp(lnòrvsîsrp(rnk(hólj(sj(hói(snkiûnshi(iîivinhJ(Vósj(sj(sîîljhprhik(sn(hói(òmîL
îmsno(irvñîij(¨KIäI{(§KMP(mpsosnrî(ivñórjsj{
óApo(ìi(sréîr(s(èlíiJ(( ( ( Vói(mvrn(grv(mlh(mò(hói(ómljiJ
U(èlíi(ìi(sréîr(òApoJ(( ( ( Q(mvrn(grvi(mlh(mò(hói(ómljiJ
Q(òlphóip(virnj(òmp(vrpèsno(kiûnshi(mp(snkiûnshi(jhrhlj(sn(Ripwsrn(sj(hópmloó(
vmksûgrhsmnP(sJiJ(sn(hói(Ripwsrn(îrnolroi(nmlnj(rpi(gmnjskipik(snóipinhîï(snkiûL
nshi(sò(hóiï(rpi(rggmvñrnsik(wï(rnï(ñpi(mp(ñmjh(vmksûgrhsmnJ(Vósj(sj(sîîljhprhik(sn(
hói(òmîîmsno(irvñîij(¨swskP(mpsosnrî(ivñórjsj{
\krîr(ji(r(ôAHpFx'ö@nApFx(îièrprJ((
\krîr(ji(r(ôAHpFx(îièrpr(J|'+FDGFpoJ(
Rói(vrppsik(r(òrvmlj(kmghmpJ
Rói(vrppsik(r(kmghmp(òpmv(amjhmnJ
Un(rkkshsmnP(sn(Ripwsrn(sh(sj(ñmjjswîi(hm(sîîljhprhi(kiûnshi£snkiûnshi(jhrhlj(shó(hói(
óiîñ(mò(hói(rññpmñpsrhi(hinji(¨swskP(mpsosnrî(ivñórjsj{
XozJDoF(ìi(ñsjvrJ(( ( ( di(pmhi(hói(îihhipjJ
aJDoF(ìi(ñsjvrJ((( ( ( di(pmhi(îihhipjJ
blphóipvmpiP(hói(gîrsv(sj(hórh(hói(kiûnshi£snkiûnshi(jhrhlj(mò(hói(piòipinh(mò(r(
ñrphsglîrp(nmln(grn(wi(kihipvsnik(shó(hói(rññpmñpsrhi(rjñigh(mò(hói(rkìighsui(sn(
Ripwsrn(¨=GBs)FHG@†@:9)9):@FHG@†@:9)Q9HJ(Vói(òmîîmsno(irvñîi(sj(rn(sîîljhprhsmn(
mò(hói(ñmsnh(rh(órnk(¨HMM§{(K§M§Lå{
wp(rlhm(¨hói(jómphipP(®snkiûnshif(òmpv(mò(hói(rkìighsuiP(gmppijñmnksno(hm(hói(snL
kiûnshi(rphsgîi(r(òrjh(grp
wps(rlhm(¨hói(îmnoipP(®kiûnshif(òmpv(mò(hói(rkìighsuiP(gmppijñmnksno(hm(hói(kiûnshi(
rphsgîi(hói(òrjh(grp
§ä

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
Un(óip(rphsgîi(òpmv(HMM§P(Xrnsìiîr(Vpinèsí(jhrhij(hórh(sn(òrgh(hóiji(rjjlvñhsmnj(
rwmlh(hói(urpsmlj(kiusgij(ljik(hm(gmki(kiûnshinijj(sn(Ripwsrn(rpi(sngmppighP(kli(
hm(hói(òrgh(hórh(sh(sj(nmh(kiûnshinijj(hórh(sj(gmkik(sn(RipwsrnP(wlh(jñigsûgshï(¨HMM§{(
K§MãP(ósgó(gmlîk(sn(òrgh(rggmlnh(òmp(hói(ksòûglîhï(hórh(ZK(Ripwsrn(jñirèipj(
órui(óin(ljsno(hói(rphsgîi(jïjhiv(mò(YnoîsjóJ(Rói(òlphóip(omij(mn(hm(piòlhi(hói(
gîrsvj(hórh(rnï(mò(hóiji(rjjlvñhsmnj(rwmlh(gmksno(kiûnshinijj(sn(Ripwsrn(rpi(gmpL
pighP(jhrphsno(shó(hói(piîrhsmn(wihiin(osuin£ni(snòmpvrhsmn(rnk(kiûnshinijj£
snkiûnshinijj(¨HMM§{(K§MçP(mpsosnrî(ivñórjsjP
/G@HApG'Do'poõA'}oGAHKA(ìi(mjumìsm(ñpul(nroprklJ
Q(jhlkinh(òpmv(mlp(kiñrphvinh(mn(hói(ûpjh(ñpsiJ
^pul(nroprkl(ìi(mjumìsm(xFDzFHJp'@'zBonFE'FHAB@J
Vói(oinhîivrn(sn(hói(wîli(jlsh(mn(hói(ûpjh(ñpsiJ
Rói(jhrhij(hórh(hói(ksjhsnghsmn(wihiin(osuin£ni(snòmpvrhsmn(rghlrîîï(órj(hm(km(
shó(rggijjswsîshï(mò(hói(piòipinh(sn(úlijhsmnP(mp(sn(mhóip(mpkjP(hói(ijhsvrhik(vinL
hrî(rghsushï(nmh(skinhsûrwsîshï(mp(kiûnshinijjJ(Vmlgósno(lñmn(hói(hmñsg(mò(óihóip(
sh(sj(ñmjjswîi(hm(lji(hói(kiûnshi(mp(snkiûnshi(rjñigh(mò(hói(rkìighsui(hm(gmnuiï(hói(
virnsno(grppsik(wï(hói(kiûnshi(mp(snkiûnshi(rphsgîi(pijñighsuiîïP(Vpinèsí(órk(hói(
òmîîmsno(hm(jrï{(JJJ(sn(gómmjsno(hói(fkiûnshif(òmpv(mò(rn(rkìighsui(hói(jñirèip(
kmij(nmh(rjjlvi(hórh(hói(piòipinh(sj(skinhsûrwîiP(mp(vrnsòijh(hm(ósj(óirpipJ(di(jsoL
nrîj(hórh(hói(piòipinh(sj(skinhsûrwîi(¨FHG@HE@:(hm(ósvjiîò(mnî泌HMM§{(K§MãJ(Rói(
vrèij(hósj(gmngîljsmn(ósîi(piòippsno(hm(hói(ksjhsnghsmn(wihiin(jmvihósno(wisno(
kiûnshi(sJiJ(skinhsûrwîi(hm(wmhó(jñirèip(rnk(óirpip(mp(wisno(jñigsûgP(sJiJ(skinhsûL
rwîi(hm(óirpip(mnîïJ(Qj(ñpmmò(jói(mòòipj(r(kijgpsñhsmn(mò(órh(r(nrhsui(jñirèip(mò(
Ynoîsjó(rnk(mni(mò(Ripwsrn(mlîk(órui(hm(jrï(lñmn(inhipsno(hói(jrvi(lnòrvsîsrp(
jihhsno(rnk(rhhivñhsno(hm(gmnuiï(hm(r(hóspk(ñrphïP(nmh(ñpijinh(sn(hói(pmmvP(órh(sh(
sj(hóiï(jii(rpmlnk(hóivJ(Vói(jñirèip(mò(Ynoîsjó(mlîk(vmjh(ñpmwrwîï(jrï
Qj(ïml(inhipP(hóipi(sj(o'yJx'KF@pH'GoyBA(sn(hói(vskkîi(mò(hói(pmmvJ(Vm(hói(îiòh(sj(
op'FBH'zJopFJ(Wih(hm(hói(ñsrnmP(hóipi(sj(o'yBoq}'HAD}P(rnk(hóipi(sj(o'yB@A'xBFyA(
mn(hói(kijè¥(ósîi(r(nrhsui(jñirèip(mò(Ripwsrn(mlîk(jrï
ürk(lkìié(l(jmwlP(nr(jpiksns(ìi(nABJ}ÅJ'F}K@xBÅJ'DGFJ(Wr(îium(ìi(ÖpA}Jà'DGoKÅJ'
}BoJKP(s(km(nìior(ìi(qKpÅJ'KoHpJ'DGF(r(nr(jhmîl(ìi(zBonÅJ'xBFy@Dø(¨wrjik(mn(VpinèsíP(
HMM§{(K§MãP(mpsosnrî(ivñórjsjJ
§I

oAG>A)^9P9>G9E@Q9û
ósgó(virnj(hórh(sn(RipwsrnP(hói(kiûnshi(òmpv(mò(hói(rkìighsui(grn(wi(ljik(hm(
piòip( hm( snkiûnshi( wlh( jñigsûg( piòipinhjP( óipisn( îsij( hói( gmnòljsmnJ(©órh( hói(
ñpmwîiv(wmsîj(kmn(hm(sj(hói(òrgh(hórh(jmvi(îrnolroij(gmki(kiûnshinijj(rnk(mhóip(
gmki(jñigsûgshï(ósgó(vrèij(sh(ksòûglîh(òmp(îirpnipj(hm(îirpn(hói(rññpmñpsrhi(ljijJ
lOuO'aKAnJF@D'KADAoKqt
Vói(pijirpgó(snhm(hói(lji(mò(hói(Ynoîsjó(rphsgîi(jïjhiv(rvmno(jñirèipj(ómji(
ZK(sj(górprghipsik(wï(ªLQ`V(sj(ihinjsuiJ(Qh(hósj(ñmsnh(i(mlîk(îsèi(hm(sngîlki(
hói(òmîîmsno{(^mijsm(ih(rîJ(¨KIIâ(óm(jhlksik(kiûnshi(kijgpsñhsmnj(sn(pshhin(
hihjP(ôrjhip(¨HMMH(óm(mlhîsnik(ûui(ñikromosgrî(vihómkj(òmp(hirgósno(hói(rpL
hsgîi(jïjhiv(hm(WWRP(Umnsn(¨HMMç(óm(pmhi(óip(ksjjiphrhsmn(mn(hói(rgúlsjshsmn(
mò(hói(Ynoîsjó(rphsgîij(wï(`ljjsrn(rnk(ümpirn(îirpnipjP(õrvñrpiîîs(¨HMMå(óm(
orui( rn( muipusi( mò( hói( urpsmlj( ivñspsgrî( rnk( vihómkmîmosgrî( rjñighj( mò( hói(
pijirpgó( shósn( X^jP( Yèsiph( ¨HMMâ( óm( rghlrîîï( jhlksik( hói( snkiûnshi( rphsgîiP(
Vpinèsí(¨HMMâ(óm(gmvñrpik(hói(rphsgîi(ñpmklghsmn(mò(ZK(Ripwsrn(ZH(Ynoîsjó(
îirpnipj(rnk(mò(r(Vlpèsjó(îirpnip(mò(YnoîsjóP(Umnsn(ih(rîJ(¨HMMä(óm(îsjhik(hói(
hópii(jmlpgij(mò(ènmîikoi(sn(hói(rgúlsjshsmn(mò(Ynoîsjó(rphsgîijP(üm(ih(rîJ(¨HMMä(
óm(ksjgljjik(óm(jivrnhsg(lnsuipjrîj(ròòigh(ZH(Ynoîsjó(rphsgîi(gómsgiP(©óshi(
¨HMMä(óm(jhlksik(hói(rgúlsjshsmn(mò(Ynoîsjó(rphsgîij(wï(jñirèipj(mò(rn(ZK(îrgèL
sno(rphsgîijP(†rno(rnk(Umnsn(¨HMMä(óm(pmhi(rwmlh(óm(ZH(Ynoîsjó(îirpnipj(
ómji(ZKj(îrgè(rphsgîij(rgúlspi(hói(gmngiñh(mò(kiûnshinijj(rnk(õkmpinèm(rnk(
^rprksj(¨HMMä(óm(grppsik(mlh(r(îmnoshlksnrî(jhlkï(mò(hói(nrpprhsuij(mò(Kâ(YnoL
îsjó(ZH(gósîkpin(shó(ZKj(hórh(km(nmh(órui(kiûnshi£snkiûnshi(rphsgîijJ
åM
lOúO'/GoGAEApG'Fv'z@KzFDA
Vói(gmngîljsmn(i(órui(pirgóik(wï(nm(sj(hórh(i(grnnmh(piîï(mn(vlgó(òpmv(
mlp(ZK(hm(óiîñ(mlp(jhlkinhj(ñpmñipîï(rgúlspi(hói(rphsgîi(jïjhiv(mò(YnoîsjóJ(©órh(
i(pirîîï(niik(hm(km(sj(hói(òmîîmsno{(skinhsòï(rj(^ihip(ôrjhipj(jrïj(¥JJJhói(ñjïL
gómîsnolsjhsg(vigórnsjv(wï(ósgó(nrhsui(jñirèipj(kihipvsni(rphsgîij(òpmv(gmnL
hihø( rj( sh( sj( ¥JJJ( mni( mò( hói( vrnï( rpirj( mò( rphsgîi( pijirpgó( hórh( pivrsnj( hm( wi(
lnkiphrèinø(¨ôrjhipP(KIIâ{(HHMJ
Vóipisn(îsij(hói(skir(òmp(hósj(jhlkïJ(Slp(ñpsvrpï(omrî(rj(hm(kihipvsni(óipi(
hói( opirhijh( ñpmwîivj( shó( ljsno( hói( kiûnshi( rphsgîi( îsi( rvmno( ZK( Ripwsrn£ZH(
Ynoîsjó(jñirèipjJ(Un(mpkip(hm(km(jm(i(órui(piîsik(mn(hm(gîrjjsûgrhsmnj(mò(hói(
hïñij(mò(gmnhihj(sn(ósgó(hói(lji(mò(hói(kiûnshi(rphsgîi(sn(Ynoîsjó(sj(mwîsorhmpïJ(
Vói( vrsn( hm( gpshipsr( hórh( hói( gmnhihj( jrhsjòï( rpi( hómji( mò( skinhsûrwsîshï( rnk(
òrvsîsrpshïJ

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
Vói(ûpjh(gîrjjsûgrhsmn(sj(hói(mni(mlhîsnik(wï(Tópsjhmñóip(Zïmnj(¨KIII(rnk(
sj(wrjik(mn(hói(jmLgrîîik(®òrvsîsrpshï(óïñmhóijsjfJ(Shóip(rlhómpj(óm(órui(wrjik(
hóisp(jhlksij(mn(hói(lji(mò(hói(kiûnshi(rphsgîi(sn(Ynoîsjó(mn(hósj(óïñmhóijsj(sngîlki(
^J(Tópsjhmñóipjmn(¨KIçIªKIâ§(rnk(eJQJ(drèsnj(¨KIâäJ(Vm(úlmhi(Zïmnj{(¥[J@)
jsonrîj(hórh(hói(inhshï(kinmhik(wï(hói(nmln(ñóprji(sj(òrvsîsrp(hm(wmhó(jñirèip(rnk(
óirpipP(rnk(A)sj(ljik(óipi(hói(jñirèip(kmij(nmh(rnh(hm(jsonrî(jlgó(jórpik(òrvsîL
srpshïø(¨KIII{(çP(mpsosnrî(ivñórjsjJ
Vói(gîrjjsûgrhsmn(mò(hói(urpsmlj(gmnhihj(ósgó(piúlspi(hói(lji(mò(hói(kiûnshi(
rphsgîi(sj(rj(òmîîmj{
!"eljh(osui(GtA'DtABv(r(úlsgè(sñiP(sîî(ïmlP(wiòmpi(U(ñlh(hósj(urji(mn(shJ
!"^lh(hóiji(gîirn(hmiîj(sn(GtA'yoGtKFFE(ñîirjiJ
!"U(óirp(GtA'zKJEA'EJpJDGAK(wióruik(mlhproimljîï(rorsn(hmkrïJ
jshlrhsmnrî(ljij(mò(>J@
!")tA'EFFp(rj(uipï(wpsoóh(îrjh(nsoóhJ
òpmv(oiniprî(ènmîikoi
!"Qn(iîiornhP(krpèLórspik(mvrnP(r(iîîLkpijjik(vrn(shó(krpè(oîrjjijP(
rnk(hm(gósîkpin(inhipik(hói(gmvñrphvinhJ((U(svviksrhiîï(pigmonsik(
GtA'MFEopJ(()tA'qtJBHKAp(rîjm(îmmèik(uroliîï(òrvsîsrpJ
rnrñómpsg(>J@
!"U(órk(hm(oih(r(hrs(òpmv(hói(jhrhsmnJ((Sn(hói(rï(GtA'HKJnAK(hmîk(vi(hóipi(
rj(r(wlj(jhpsèiJ
!"Vóiïfui(ìljh(omh(sn(òpmv(Wi(†mpèJ(()tA'zBopA(rj(ûui(ómlpj(îrhiJ
rjjmgsrhsui(lji
!")tA'zKADJHApG'Fv'`topo(sj(usjshsno(hmvmppmJ
!")tA'yBF}A'*pp'MApG'F@G'MJGt'BoDG'pJxtG(ñómnik(r(vsnlhi(romJ
ñpigiksno(rnk(jlggiiksno(snòmpvrhsmn
!")tA'voqG'GtoG'rF@NnA'}pFMp'GtAE'vFK'rAoKD(sj(nm(igljiJ
!"©i(ipi(prhóip(mppsik(wï(GtA'zKFDzAqG'Fv'tonJpx'GF'qFF}'vFK'DJs'vFK'
GMF'MAA}DJ
rnhsgsñrhmpï(rnrñómpsg
¨wrjik(mn(ZïmnjP(KIII{(çLâ
Vói( mhóip( gîrjjsûgrhsmn( mò( hói( piîiurnh( gmnhihj( òmp( hói( lji( mò( hói( kiûnshi(
rphsgîi(rj(osuin(wï(`J(dlkkîijhmni(rnk([J(^lîîlv(¨HMMHJ(Uh(sj(wrjik(mn(hói(
åK

oAG>A)^9P9>G9E@Q9û
piúlspivinh(mò(skinhsûrwsîshï(rwmlh(ósgó(hóiï(órk(hói(òmîîmsno(hm(jrï{(¥Vói(
gmngiñh(mò(skinhsûrwsîshï(iñpijjik(wï(hói(kiûnshi(rphsgîi(sj(wijh(lnkipjhmmk(sn(
hipvj(mò(ñpiLivñhsno(hói(úlijhsmn(shó(gJ9bJø(¨HMMH{(çãäJ(Vóisp(gîrjjsûgrhsmn(
mò(hói(hïñij(mò(gmnhihj(òmp(hói(lji(mò(hói(kiûnshi(rphsgîi(sj(rj(òmîîmj{
!"cFJ@)J)A:H)>gF)HF;=s))[J@)bA>)9=)FQ@G)Å°)e@AG=)FCHs
wï(usphli(mò(ñpsmp(vinhsmn
!"oe)bAG)gF:I>)=>AG>Ü)`)>J9:R)>J@)fA>>@Ge)9=)qA>s
hópmloó(rjjmgsrhsmn
!"aJ@);GAff@H)P@)fe)>J@)AGP.
rjjmgsrhsmn(shó(hói(mwìighLpiòipinh
!"]Q@GefFHe)gA:>=)>F)f@)A)P@Pf@G)Fi)>J@)PF=>)BFB@AP.
vmksûip(ijhrwîsjóij(skinhsûrwsîshï
!"[J@e)AG@)9:>@GQ9@g9:;)>J@)PA:)gJF)PFg=)J@G)CAg:.
piîrhsui(gîrlji(ijhrwîsjóij(skinhsûrwsîshï
!"[J@) GAb?) HGFBB@H) iGFP) T:HG@) T;A==9I=) JA:H) A=) 9i) J9=) {:;@G=) JAH)
;GFg:):@:@==)>JGF9F:l)
H@{:9>@:@==) >JGF@:@==) >JGF

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
sjóik(hm(nmhi(óihóip(hóiï(jómik(rnï(svñpmuivinh(rh(rîî(klpsno(hói(hm(ïirpj(
mò(snhinji(jhlkï(mò(Ynoîsjó(rh(hói(hiphsrpï(îiuiîJ
mO'0-)bZ.
mOlO'aoKGJqJzopGD
Vói(hmhrî(nlvwip(mò(ñrphsgsñrnhj(óm(hmmè(ñrph(sn(hósj(jhlkï(rj(HãP(rîî(mò(
ómv(ipi(jhlkinhj(rh(hói(Ynoîsjó(Xiñrphvinh(mò(hói(brglîhï(mò(^ósîmjmñóï(mò(
hói(\nsuipjshï(mò(WséJ(Qh(hói(jhrph(mò(hói(jhlkï(hóiï(ipi(rîî(jmñómvmpij(rh(mlp(
Ynoîsjó(kiñrphvinh(rnk(hóiï(rîî(jórpik(hói(jrvi(ZKP(RipwsrnJ
mOmO'0oGAKJoBD'opH'zKFqAH@KA
©órh(i(sngîlkik(sn(mlp(snjhplvinh(rj(r(hprnjîrhsmn(hrjèJ(Vói(jhlkinhj(ipi(
rjèik(hm(hprnjîrhi(r(jómph(hih(òpmv(Ripwsrn(snhm(YnoîsjóP(mngi(rh(hói(ink(mò(hóisp(
jmñómvmpi(ïirpP(rnk(hóin(hóiï(ipi(osuin(rnmhóip(hprnjîrhsmn(hrjè(rh(hói(ink(mò(
hóisp(jinsmp(ïirp(rh(mlp(kiñrphvinhJ(Vói(hprnjîrhsmn(hrjè(rj(nmhósno(ni(hm(hói(
jhlkinhjP(rj(sh(sj(rn(mwîsorhmpï(ñrph(mò(hóisp(vmpi(oiniprî(rnk(ihinjsui(Ynoîsjó(
Zrnolroi(irvJ(Vói(hrjè(rj(gómjin(wigrlji(sh(piúlspik(hóiv(hm(lji(giphrsn(
iñpijjsmnj(rnk(grhiompsij(rj(hói(virnsno(sn(hói(mpsosnrî(hih(piúlspikP(rnk(lnL
îsèi(hói(ijjrï(pshsno(hrjèP(ksk(nmh(rîîm(hóiv(hm(rumsk(rnï(jhplghlpij(mp(lji(mò(
oprvvrhsgrî(grhiompsij(hóiï(ksk(nmh(òiiî(gmvòmphrwîi(ljsnoJ(Un(rkkshsmnP(hói(ipL
pmpj(sn(hói(lji(mò(hói(kiûnshi(rphsgîi(ipi(vmjh(mòhin(jñmhhik(óin(hói(jhlkinhj(
ñipòmpvik(hósj(hïñi(mò(pshhin(hrjèP(rnk(sh(rj(hóisp(rnjipj(osuin(klpsno(hósj(
ñrphsglîrp(hïñi(mò(gmlpjimpè(hórh(jñrpèik(hói(skir(òmp(hósj(pijirpgóJ(amhó(hihj(
ipi(gmkik(sn(jlgó(r(rï(jm(rj(hm(sngîlki(rn(iúlrî(nlvwip(mò(jinhingij(hórh(
sngîlkik(hópii(gmnhihj(òmp(hói(lji(mò(hói(kiûnshi(rphsgîi{(H@{:9>@:@==)>JGF9F:l)H@{:9>@:@==)>JGF@:@==)>JGF

oAG>A)^9P9>G9E@Q9û
uO'3-/4,)/
©órh(i(ûpjh(îmmèik(rhP(lñmn(gmksno(hói(jhlkinh(rnjipj(òpmv(hói(hm(hijhj(
¨Vijh(K(rnk(Vijh(H(rj(hm(kihipvsni(hói(ksòòipinh(hïñij(mò(ippmpj(hórh(ipi(vrki(
sn(wmhó(hijhjJ(Vrwîi(K(jómj(hóisp(hïñi(rnk(ksjhpswlhsmn(muip(hói(hm(hijhjJ
)rzA'Fv'JpqFKKAqG'
opDMAK
õipm(rphsgîi(snjhirk(mò(
hói(kiûnshi(rphsgîi
Unkiûnshi(rphsgîi(snjhirk(
mò(hói(kiûnshi(rphsgîi
amhó(ñmjjijjsui(
rkìighsui(rnk(hói(
snkiûnshi(rphsgîi
^mjjijjsui(snjhirk(mò(
hói(kiûnshi(rphsgîi
å§
)ADG'lÄ'ù
çäJå«
HK«
HM«
Kã«
Rhplghlpi(nmh(piúlspsno( ç« L
rn(rphsgîi
Vrwîi(KJ([eB@)Fi)@GGFG)9:)[@=>)Å)A:H)[@=>)É
)ADG'mÄ'ù
âH«
K§«
L
K§«
©i( òlphóip( wpmèi( kmn( hói( hïñi( mò( sngmppigh( rnjipj( osuin( òmp( irgó( snksL
usklrî(gmnhih(òmp(hói(lji(mò(hói(kiûnshi(rphsgîi(òmp(hói(hm(hijhjJ(Vói(hïñij(mò(
sngmppigh(rnjipj(òmp(H@{:9>@:@==)>JGF9F:P(òmp(H@{:9>@:@==)>JGF@:@==)>JGF

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
)rzA'Fv'JpqFKKAqG'
opDMAK
Vói(snkiûnshi(rphsgîi(
snjhirk(mò(hói(kiûnshi(
rphsgîi
õipm(rphsgîi(snjhirk(mò(
hói(kiûnshi(rphsgîi
)ADG'lÄ'ù
ãä«
çH«
)ADG'mÄ'ù
HM«
ãM«
^mjjijjsui(rkìighsui( L
HM«
snjhirk(mò(hói(kiûnshi(
rphsgîi
Vrwîi(çJ([eB@)Fi)9:bFGG@b>)A:=g@G)iFG)H@{:9>@:@==)>JGF@:@==)>JGF@:@==)>JGF

åã
oAG>A)^9P9>G9E@Q9û
rphsgîiP(mp(ljsno(rn(rphsgîi(shó(nm(vmpñómîmosgrî(mp(ñómnmîmosgrî(vrpèsno(sn(hói(
ûpjh(hijhP(hm(ljsno(hói(muiph(vmpñóivi(A)sn(hói(jigmnk(hijh(gmlîk(wi(gmnjhplik(rj(
rn(svñpmuivinhP(mp(rh(îirjh(r(górnoi(sn(hói(psoóh(kspighsmnJ(Vóisp(rnjipj(rh(îirjh(
jóm(hórh(hói(ñrphsgsñrnhj(piosjhipik(hórh(hói(piòipinh(rj(sn(jmvi(rï(ènmnP(
rnk(jómlîk(sn(jmvi(rï(wi(vmksûik(mp(vrpèikJ
Vói(mpkip(mò(hói(vmjh(òpiúlinhîï(vrki(vsjhrèij(wmhó(sn(Vijh(K(rnk(Vijh(H(rpi(hói(
òmîîmsno{
rJ( lji(mò(hói(k@GF)AG>9bC@)snjhirk(mò(hói(kiûnshi(rphsgîi
wJ( lji(mò(hói(9:H@{:9>@)AG>9bC@(snjhirk(mò(hói(kiûnshi(rphsgîi
gJ( lji(mò(r(BF==@==9Q@(snjhirk(mò(hói(kiûnshi(rphsgîiJ
Un(wmhó(hijhjP(rnk(òmp(rîî(hópii(hïñij(mò(gmnhihjP(hói(vmjh(òpiúlinhîï(vrki(
vsjhrèi(rj(hói(lji(mò(hói(ipm(rphsgîi(snjhirk(mò(hói(kiûnshi(mniJ(Un(òrghP(òmp(
H@{:9>@:@==) >JGF9F:( sh( rj( hói( mnîï( hïñi( mò( vsjhrèi( vrki( mn( hói(
jigmnk(hijhJ(Vósj(mlhgmvi(sn(òrgh(sj(úlshi(hm(wi(iñighikJ(Un(mpkip(hm(iñîrsn(hói(
ihinjsui(muiplji(mò(hói(ipm(rphsgîi(sn(rîî(hópii(gmnhihjP(i(mlîk(órui(hm(piòip(
wrgè(hm(hói(ñrphsglîrp(gîrjjsûgrhsmn(mò(hói(Ynoîsjó(rphsgîi(jïjhiv(rj(osuin(wï(^J(
ôrjhip(sn(KIIâJ(drusno(jhrhik(hórh(hói(Ynoîsjó(îrnolroi(órj(hm(rphsgîij(ósgó(
rpi(nmh(vmpñómîmosgrî(mp(ñómnihsgrîîï(pirîsikP(hósj(ñrphsglîrp(hïñi(mò(rphsgîi(sj(hói(
mni(hórh(mgglpj(vmjh(òpiúlinhîï(sn(hói(Ynoîsjó(îrnolroi(rnk(sj(hói(ûpjh(mni(hm(wi(
ñsgèik(lñ(mn(rnk(rgúlspik(wï(WWRJ(ôrjhip(omij(mn(hm(jhrhi(hórh(iuin(hómloó(hói(
TSa\UZX(îsjh(mò(hói(hin(vmjh(òpiúlinh(mpkj(sn(hói(Ynoîsjó(îrnolroi(sj(hmññik(
wï(hói(kiûnshi(rphsgîiP(kli(hm(shj(îrgè(mò(vmpñómîmosgrî(mp(ñómnihsg(pirîsrhsmnP(hói(
îsjh(jómlîk(wi(hmññik(wï(hói(ipm(mp(nlîî(rphsgîiJ(Vm(úlmhi(ôrjhip{(¥hói(ñipjsjhingi(
mò(ipm(rphsgîi(ljroi(wï(ªLQ`V(jñirèipjP(iuin(rh(rkurngik(ñpmûgsingï(îiuiîjP(
vrï(wi(kli(nmh(mnîï(hm(snhipòipingi(òpmv(ZK(rnk(hói(ksòûglîhsij(mò(rññîïsno(hói(
rphsgîi(jïjhiv(wlh(hm(hói(òpiúlingï(shó(ósgó(hói(ipm(rphsgîi(mgglpj(sn(hói(snñlhø(
¨KIIâ{(HHâJ(Un(hói(jhlkï(ói(grppsik(mlh(sn(KIäâ(snumîusno(HM(WWR(mò(YnoîsjóP(
ómji(ZK(rj(vrpèik(wï(ªLQ`VP(ói(òmlnk(hórh(jñirèipj(rîhipnrhi(wihiin(hói(
ipm(rnk(hói(kiûnshi(rphsgîiP(rîî(hói(rï(hm(hói(ósoóip(ñpmûgsingï(îiuiîjJ(Vói(òrgh(
hórh(hóiji(jhlkinhj(hink(hm(muiplji(hói(ipm(rphsgîi(jiivj(hm(wi(r(nrhlprî(jhroi(sn(
hóisp(¨snhipîrnolroi(kiuiîmñvinhJ
Vói(muiplji(mò(hói(snkiûnshi(rphsgîi(snjhirk(mò(hói(kiûnshi(mni(rj(ñpsvrpsîï(
hm( wi( òmlnk( sn( hói( H@{:9>@:@==) >JGF@­
:@==) >JGF

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
jhlkinhjf(ñpimgglñrhsmn(shó(hói(îmgrhsmn(mò(hósj(nmln(ñóprji{(snshsrî(sn(hói(hihP(
snshsrî(sn(hói(jinhingiP(rnk(òmp(hósj(pirjmn(i(wiîsiui(hórh(hói(jhlkinhj(piîsik(mn(
hói(plîi(mò(ûpjh(vinhsmn(óin(hprnjîrhsno(hósj(ñóprjiJ(Un(rggmpkrngiP(hóiï(ljik(
hói(snkiûnshi(rphsgîi(shómlh(rghlrîîï(gmnjskipsno(óihóip(shj(lji(rj(vipshik(sn(
hipvj(mò(virnsnoJ(©i(rîjm(hósnè(hórh(sh(sj(ñmjjswîi(hm(rggmlnh(òmp(hósj(ñpmwîiv(sn(
oiniprî(wï(piòippsno(hm(hói(ksjhsnghsmn(i(órui(rîpirkï(vrki(wihiin(jñigsûgshï(
mn(hói(mni(órnkP(sn(hói(jinji(mò(hói(piòipinh(wisno(skinhsûrwîi(hm(hói(jñirèip(rnk(
kiûnshinijj(mn(hói(mhóipP(sn(hói(jinji(mò(hói(piòipinh(wisno(skinhsûrwîi(hm(wmhó(
óirpip(rnk(jñirèipJ(Vói(WWR(mò(Ynoîsjó(vrï(sn(òrgh(pirîsi(hórh(hói(nmln(piúlspij(
jmvi(èsnk(mò(muiph(vmksûgrhsmnP(rnk(nmh(órusno(ïih(vrki(hói(gîirpLglh(ksjhsngL
hsmn(sn(hipvj(mò(órh(sj(vmjh(rññpmñpsrhiP(hóiï(mñh(òmp(hói(mpk(gîmjijh(sn(virnsno(
hm(®ìikrnf(mp(®nièsf(mp(®isjhsnofJ
bsnrîîïP(hói(hóspk(vmjh(òpiúlinhîï(vrki(vsjhrèi(rj(hói(lji(mò(hói(ñmjjijL
jsui(snjhirk(mò(hói(kiûnshi(rphsgîiJ(Vói(ihinjsui(lji(mò(hói(ñmjjijjsui(shó(rnk(
shómlh(hói(kiûnshi(rphsgîi(gmlîk(mngi(rorsn(wi(iñîrsnik(wï(piòippsno(hm(hói(uipï(
jhplghlpi(mò(hói(hih(hórh(hói(jhlkinhj(ipi(virnh(hm(hprnjîrhiJ(Un(mni(mò(hói(jinL
hingi(sn(Vijh(KP(óipi(hói(gmnkshsmn(òmp(H@{:9>@:@==)>JGF

oAG>A)^9P9>G9E@Q9û
uO'YZXY,4/1ZX
Qîhómloó(hói(ñrphsgsñrnhj(sn(hósj(jhlkï(ksk(jóm(jmvi(jsonj(mò(svñpmuivinhP(
i(grnnmh(vrèi(rnï(oiniprîsrhsmnj(sn(hipvj(mò(svñpmuivinh(mn(r(îrpoip(jgrîiJ(
Slp(jrvñîi(rj(jvrîî(rj(rj(hói(nlvwip(mò(gmnhihj(hórh(i(gómji(hm(jhlkïJ(©órh(
hói(pijlîhj(mò(hósj(pijirpgó(órui(jómn(sj(hórh(hóipi(sj(pmmv(òmp(òlphóip(pijirpgóP(
ijñigsrîîï(sò(i(hrèi(snhm(gmnjskiprhsmn(hórh(iuin(hómloó(hóipi(sj(jmvi(nmhik(svL
ñpmuivinh(sn(hóisp(ènmîikoi(mò(hói(lji(mò(hói(kiûnshi(rphsgîi(sn(hósj(jhlkïP(hói(
nlvwip(mò(ippmpj(hórh(mlp(ZK(Ripwsrn(îirpnipj(mò(Ynoîsjó(gmnhsnli(hm(vrèi(sj(jhsîî(
opirhP(iuin(klpsno(hóisp(jinsmp(ïirpjP(óipi(hóiï(rîî(hijhik(ñmjshsui(òmp(svñpmuiL
vinh(mò(hósj(ñrphsglîrp(îrnolroi(jèsîîJ(©órh(òlphóip(niikj(hm(wi(hijhik(sj(jhlkinh(
ñipòmpvrngi(sn(hipvj(mò(hói(lji(mò(hói(kiûnshi(rphsgîi(sn(rîî(hói(pivrsnsno(hïñij(
mò(gmnhihjP(rj(gshik(wï(Zïmnj(¨KIII(rnk(dlkkîijhmni(rnk(^lîîlv(¨HMMHJ(Un(
rkkshsmn(hm(jhlkïsno(hóiji(gmnhihjP(i(rîjm(niik(hm(gmnhpmî(òmp(hói(urpsrwîi(mò(
nmln(gmlnhrwsîshïP(ósgó(rj(nmh(kmni(sn(hósj(jhlkïJ(Vói(pirjmn(wiósnk(hórh(sj(
hórh(¥Un(hói(rphsgîi(jïjhivP(hói(iîivinhj(rpi(gmlnhrwsîshïP(nlvwip(rnk(kiûnshinijjP(
ósgó(vljh(rîî(wi(gmnjskipik(sn(rppsusno(rh(hói(gmppigh(gómsgi(mò(rphsgîiø(¨ôrjhipP(
KIIâ{(HHMJ(Un(rkkshsmnP(òlphóip(pijirpgó(vrï(winiûh(òpmv(hrèsno(snhm(rggmlnh(hói(
òrgh(hórh(ZK(Ripwsrn(jñirèipj(mò(Ynoîsjó(hink(hm(órui(r(jñigsûg(rhhshlki(hm(ljsno(
rphsgîij(shó(Ynoîsjó(nmln(ñóprjij(ósgó(rîpirkï(órui(ñpi(mp(ñmjh(vmksûgrhsmnJ(
bsnrîîïP(ñipórñj(hói(vmjh(winiûh(gmlîk(wi(pirñik(wï(mpornssno(r(îmnoshlksnrî(
jhlkï(hórh(mlîk(òmîîm(hói(jrvi(opmlñ(mò(jhlkinhj(muip(hóisp(òmlp(ïirpj(mò(jhlkïL
sno(Ynoîsjó(rh(hói(hiphsrpï(îiuiî(rnk(mlîk(góigè(òmp(rnï(górnoij(mò(hóisp(lji(mò(
hói(kiûnshi(rphsgîi(sn(rîî(hói(ròmpivinhsmnik(gmnhihj(mn(r(ïirpîï(wrjsjJ(Uò(i(ipi(
rwîi(hm(km(jm(rnk(órui(rnï(èsnk(mò(jlggijj(sn(kihipvsnsno(hói(ijjingi(mò(hói(ñpmwL
îiv(sn(hóiji(jñirèipjf(lji(mò(hói(kiûnshi(rphsgîiP(i(gmlîk(wi(îmmèsno(rh(órusno(
òlphóip(jlggijj(sn(hói(hirgósno(ñpmgijjJ
3-L-3-XY-/
´mp⁄iusíP(`J(¨KIäIJ(]:;C@=R9)9)=GB=RFJGQA>=R9)E@k9RÇ)RF:>GA=>9Q:A);GAPA>9RA)9P@:9XR@)
;GA)@C9b9>A>9F:)iFG)=@bF:H)A:H)iFG@9;:)CA:;@:@==)A:H)9:H@{:9>@:@==Ç)A)=>9bAC9>e)BG@H9b>9F:J(Zmnkmn{(Tpmmv(diîvJ
dlkkîijhmni(`JP(^lîîlv([J(¨HMMHJ([J@)cAPfG9H;@);GAPPAG)Fi)>J@)]:;C9=J)CA:;

Vd`YY(TSWVY¢VR(bS`(VdY(\RY(Sb(VdY(XYbUWUVY(Q`VUTZY(UW(VdY(TQRY(JJJ
eijñipjinP( SJ( ¨KIâ§J( T) PFH@G:) ]:;C9=J) ;GAPPAGÇ) F:) J9=>FG9bAC) BG9:b9BC@=l) OAG>) V``l)
ae:>AñJ(Zmnkmn{([impoi(Qîîin(rnk(\nsn(ZhkJ
ZïmnjP(TJ(¨KIIIJ(^@{:9>@:@==J(Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjJ
ôrgèiï(QJP([rjj(RJ(¨HMMåJ(a@bF:H)CA:;@P(
Hå(¨HP(HKåLHçHJ
]lspèP( `JP( [piinwrlv( RJ( ¨KIâçJ( T) e) ;GAPPAG) Fi) ]:;C9=JJ(Qkksjmn( ©ijîiï(
Zmnovrn(ZsvshikJ
VpinèsíP(XJ(¨HMM§J(Xiûnshinijj(sn(Ripwsrn£Tpmrhsrn£amjnsrn(rnk(jmvi(svñîsgrhsmnj(òmp(
hói(oiniprî(jhplghlpi(mò(hói(nmvsnrîñóprjiJ(89:;JGF9F:P( mknmjnmP( mkpi⁄ins( êîrn( ji( lñmhpiL
wîìrur(l(jîlêrìl(èrkr(ji(piòipinh(l(ñshrnìl((vmëi(skinhsûèmurhs(nr(mjnmul(rjmgsìrgsìi(jr(
nièsv(kplosv(piòipinhmvP(èmìs(ìi(uií(ñmnrh(sîs(ji(vmëi(skinhsûèmurhsæ(piòipinh(ji(jvrhpr(
mkpi⁄insv(ìip(ji(vmëi(skinhsûèmurhs(nr(mjnmul(snòmpvrgsìr(èmìi(kmwsìrvm(mk(nrésó(êlîr(
¨inoîJ(H@{:9>@:@==)>JGF@:@==)>JGF

oAG>A)^9P9>G9E@Q9û
C9:;9b)R:FgC@H;@P(mknmjnmP(mkpi⁄ins(êîrn(ji(lñmhpiwîìrur(l(jîlêrìl(èrkr(ji(piòipinh(
vmëi(skinhsûèmurhs(nr(mjnmul(nrnìr(èmìi(svrvm(m(juihl(mèm(nrjJ(
\èlñnm(Hã(jhlkinrhr(ìi(lêijhumurîm(l(mumv(ñsîmhLsjhprësurnìlJ(Rus(sjñshrnsgs(jl(wsîs(jhlL
kinhs(Xiñrphvrnr(r(rnoîsjhsèl(bsîmmòjèmo(òrèlîhihr(l(WsélJ(Wr(èprìl(éèmîjèi(HMMã£HMMâJ(
omksni(sjñshrnsgs(jl(kmwsîs(rkrhrè(kr(ñpiuikl(ìikrn(èprís(hièjh(jr(jpñjèmo(nr(inoîijès(ìiL
sè(¨Vijh(KJ((Wr(èprìl(éèmîjèi(HMMä£HMMIJ(omksniP(sjhsv(jhlkinhsvr(krh(ìi(ìmé(ìikrn(hièjh(
¨Vijh(H(jr(sjhsv(róhiumvJ(Swr(hièjhr(jrkpërîr(jl(ñm(mjrv(jiovinrhr(èmìi(ìi(hpiwrîm(
ñpiuijhs(l(lñmhpiwl(mkpi⁄inmo(êîrnrP(nr(mjnmul(uií(nruikinsó(èmnhièjhrJ(Ujñshrnsgs(jl(
krîs(nrhnm(uséi(hrênsó(niom(nihrênsó(mkomumpr(nr(mwr(hijhrJ(Vmèmv(ñipsmkr(mk(ñpumo(km(
kplomo(hijhr(nìsómum(ñmnrurnìi(hps(nruikinr(èmnhièjhr(r(lñmhpiwl(mkpi⁄inmo(êîrnr(ji(
ñmuiírîmP(r(sjñshrnsgs(jl(wsîs(nrpmêshm(ljñiéns(l(jîlêrìl(lñmhpiwi(mkpi⁄inmo(êîrnr(l(piòiL
pinhi(èmìs(ji(vmol(skinhsûèmurhs(nr(mjnmul(niîsnousjhsêèmo(nrnìr(èmìi(jromumpnsgs(kiîiP(
ìip(ìi(nr(kplomv(hijhl(jusó(Hã(sjñshrnsèr(l(hmv(jîlêrìl(krîm(hrêrn(mkomumpJ(Wr(mjnmul(nrL
uikinsó(pilîhrhr(vmëi(ji(rèîìlêshs(kr(ñmjhmìs(mjnmur(r(krîìi(prvrhprnìi(mumo(ñshrnìrJ(
Wrpikns(jiovinh(mumo(sjhprësurnìr(vmorm(ws(kr(mwlóurhs(uiís(wpmì(sjñshrnsèr(jr(kplosó(
lnsuipshihr(s(nr(hrì(nrêsn(ws(ji(ñpméspsîm(ñmkplêìi(rnrîsi(nr(jui(èmnhièjhi(r(mwruinl(
lñmhpiwl(mkpi⁄inmo(êîrnr(l(inoîijèmv(ìisèlJ(
YCE

6;A7=B7#B7CD>;?#
)b-'1XL,4-XY-'ZL')b-'.13-Y)'Z+û-Y)'ZX'*/a-Y)'
*X.'*{)1ZX/*3)'1X'-X`,1/b'*X.'3Z0*X1*X
Vósj(ñrñip(rnrîïij(hói(sn¿lingi(mò(hói(kspigh(mwìigh(mn(uipwrî(rjñigh(rnk(Qèhsmnjrph(sn(
Ynoîsjó(rnk(`mvrnsrnJ(Vói(jhplghlpi(mò(hói(nmln(ñóprji(òlnghsmnsno(rj(hói(kspigh(mwìigh(
vrï(snhpmklgi(hói(nmhsmn(mò(hiîsgshï(hm(rhiîsg(uipwj(gmnjiúlinhîï(rîhipsno(hói(hïñi(mò(uipw(
jshlrhsmnJ(blphóipvmpiP(hói(ñrñip(sîî(rnrîïi(hói(sn¿lingi(mò(jivrnhsg(òirhlpij(jlgó(rj(
hiîsgshï(rnk(wmlnkiknijj(mn(rjñigh(rnk(QèhsmnjrphJ((
Y@e)gFGH=Ç'kspigh(mwìighP(rjñighP(QèhsmnjrphP(hiîsgshïP(wmlnkiknijjJ
lO'1X)3Z.4Y)1ZX
Vósj(ñrñip(ksjgljjij(hói(sn¿lingi(mò(hói(kspigh(mwìigh(mn(rjñigh(rnk(Qèhsmnjrph(
sn(Ynoîsjó(rnk(`mvrnsrnJ(Vm(jhrph(òpmv(hói(vmjh(oiniprî(hóimpihsgrî(rjjlvñhsmnj(
sn(hói(piîiurnh(îsnolsjhsg(jmlpgijP(sh(grn(wi(ñmsnhik(mlh(hórh(hóipi(jiivj(hm(wi(r(
jsonsûgrnh(gmppiîrhsmn(wihiin(uipwrî(rjñighP(giphrsn(jivrnhsg(òirhlpij(mò(îisgrî(
uipwj(rnk(hói(kspigh(mwìighJ(Vói(piîiurnh(jivrnhsg(òirhlpij(rnrîïik(sn(hósj(ñrñip(
rpi( =>A>9Q9>el) H9F:l) >@C9b9>e) rnk) fF

o9JA@CA)8AkFQ9û
òighsui(òmpv(rîjm(snksgrhij(gmvñîihsmn(mò(hói(jshlrhsmnP(ósîi(hói(svñipòighsui(
snksgrhij(r(jshlrhsmn(sn(ñpmopijj(¨Tmvpsi(KIâã{KIJ(
\nîsèi(rjñigh(ósgó(sj(r(oprvvrhsgrî(grhiompïP(Qèhsmnjrph(sj(r(îisgrî(sJiJ(jiL
vrnhsg(grhiompï(ósgó(piòipj(hm(hói(rï(hói(rghsmn(sj(pirîsikJ
Vói(wrjsj(mò(hói(rnrîïjsj(gmnklghik(sn(hósj(ñrñip(sj(hói(cinkîipfj(¨KIãâ{IâL
KHK(gîrjjsûgrhsmn(mò(uipwj(snhm(rghsushsijP(jhrhijP(rgósiuivinhj(rnk(rggmvñîsjóL
vinhjJ(Vósj(gîrjjsûgrhsmn(sj(wrjik(mn(hói(virnsno(mò(uipwj(rnk(hóisp(jïnhrghsg(
górprghipsjhsgjJ(cinkîip(ljij(îsnolsjhsg(hijhj(hm(kihipvsni(óihóip(hói(uipw(jshlL
rhsmn(kinmhij(r(ñpmgijj(mp(kiuiîmñvinh(mp(nmhP(óihóip(hói(jshlrhsmn(gmnjsjhj(mò(
jiovinhj(ósgó(rpi(mò(iúlrî(úlrîshï(mp(ñipórñj(hóipi(sj(r(jiovinh(ósgó(kinmhij(
rn(inkñmsnh(mp(gmvñîihsmnJ(cinkîipfj(uipw(hïñij(grn(wi(kiûnik(rggmpksno(hm(ksjL
hsnghsui(òirhlpij(ósgó(rpi(sngmpñmprhik(sn(hói(virnsnoj(mò(uipwjJ(Vómji(òirhlpij(
rpi{(ª¡£L(jhrhsushïP(ª¡£L(klprhsmnP(ª¡£L(omrîJ(Vói(ksjhsnghsui(òirhlpij(ósgó(kihipL
vsni(hïñi(mò(uipw(jshlrhsmn(grn(wi(kiûnik(rj(òmîîmj{
KJ(Xsjhsnghsui(òirhlpi(ª+(jhrhsushï(sj(r(górprghipsjhsg(mò(jshlrhsmnj(ósgó(km(
nmh(órui(kiuiîmñvinh(rnk(ñpmgijjP(hóiï(jsvñîï(îrjh(sn(hsviJ(Snîï(jhrhij(órui(hói(
òirhlpi(ª+(jhrhsushïJ(Sn(hói(mhóip(órnkP(sò(r(jshlrhsmn(órj(jiovinhj(rnk(kiuiîmñL
vinh(sh(órj(hói(òirhlpi(ªr)jhrhsushïJ(Rlgó(jshlrhsmnj(rpi(rghsushsijP(rgósiuivinhj(
rnk(rggmvñîsjóvinhjJ
HJ((Xsjhsnghsui(òirhlpi(ª+(klprhsmn(sj(r(górprghipsjhsg(mò(jshlrhsmnj(ósgó(îrjh(sn(
hsviP(îsèi(rghsushsijP(jhrhij(rnk(rggmvñîsjóvinhjJ(Vói(òirhlpi(ªr)klprhsmn(kinmhij(
vmvinhrpï(jshlrhsmnjP(jlgó(rj(rgósiuivinhjJ
çJ(Xsjhsnghsui(òirhlpi(ª£)omrî(sj(r(górprghipsjhsg(mò(jshlrhsmnj(ósgó(órui(r(
omrî( ròhip( ósgó( hói( jshlrhsmn( nrhlprîîï( inkjJ( Rlgó( jshlrhsmnj( rpi( rggmvñîsjóL
vinhj(rnk(rgósiuivinhjJ(Xsjhsnghsui(òirhlpi(ªr)omrî(sj(r(górprghipsjhsg(mò(jshlrL
hsmnj(ósgó(km(nmh(órui(r(omrîP(sJiJ(r(ûnrî(ñmsnhP(îsèi(rghsushsij(rnk(jhrhijJ(RshlrL
hsmnj(shó(hói(òirhlpi(ª£)omrî(rpi(grîîik(hiîsgP(rj(mññmji(hm(hói(rhiîsg(jshlrhsmnj(
ósgó(órui(hói(òirhlpi(ªr)omrîJ(
blphóipvmpiP(hói(nmhsmn(mò(wmlnkiknijj(grn(ñpmuski(r(vmpi(rkurngi(rnrîïjsj(
mò(hói(nmhsmn(mò(hiîsgshïJ(amlnkik(jshlrhsmnj(pirgó(r(omrîæ(ósîi(lnwmlnkik(km(nmh(
¨Xigîipgè(KIâI{âãKJ(
Yuin(hómloó(hiîsgshï(jiivj(hm(svñîï(wmlnkiknijjP(hóiï(ñpijinh(prhóip(gmvL
ñîi(nmhsmnjJ(Vóiï(rpi(wmhó(piîrhik(hm(hói(nmhsmn(mò(omrî(ósgó(ñpijinhj(r(ûnrî(
ñmsnh(ròhip(ósgó(hói(jshlrhsmn(nrhlprîîï(inkjJ(Sn(hói(mhóip(órnkP(r(hiîsg(jshlrhsmn(
svñîsij(r(omrî(ósgó(vrï(mp(vrï(nmh(wi(pirgóikJ(amlnkik(jshlrhsmnj(snksgrhi(hórh(
hói(omrî(rj(rghlrîîï(pirîsik(ósîi(lnwmlnkik(jshlrhsmnj(snksgrhi(hórh(hói(ûnrî(
ñmsnh(rj(nmh(pirgóikJ(Rlgó(r(ksjhsnghsmn(svñîsij(hórh(hóipi(sj(r(jivrnhsg(òirhlpi(
mò(hiîsgshï(rnk(rnmhóip(òirhlpi(mò(wmlnkiknijjJ
ãH

VdY(UWbZ\YWTY(Sb(VdY(XU`YTV(SaeYTV(SW(QR^YTV(QWX(QüVUSWRQ`V(UWJJJ
bmîîmsno(cinkîip(¨KIâã(rnk(Xigîipgè(¨KIâIP(i(grn(kiûni(hói(òmîîmsno(
hïñij(mò(uipw(jshlrhsmn(¨Qèhsmnjrph{
Qghsushsij(kinmhi(ñpmgijj(rnk(kiuiîmñvinhP(hóipiòmpi(grn(îrjh(sn(hsviJ(Vóiï(
órui(ómvmoinmlj(jiovinhj(ósgó(virnj(hórh(rnï(ñrph(mò(hói(ñpmgijj(sj(mò(hói(
jrvi(nrhlpi(rj(hói(ómîiJ(Vói(jshlrhsmn(kmij(nmh(órui(r(hipvsnrî(ñmsnh(mp(omrîJ(
Vóisp(ksjhsnghsui(òirhlpij(rpi{(ªL(jhrhsushïP(¡(klprhsmnP(L(omrîJ(Qghsushsij(rpi(uipwj(
jlgó(rj{(GJ@(=l)g9:)A(GAb@l(ihgJ
Qggmvñîsjóvinhj(om(mn(sn(hsvi(rnk(órui(r(omrîJ(Vóiï(rpi(nmh(ómvmoinmlj(
sn(nrhlpiP(wigrlji(hóiï(snumîui(r(hipvsnrî(ñmsnhJ(Vóisp(ksjhsnghsui(òirhlpij(rpi{(
ªL(jhrhsushïP(¡(klprhsmnP(¡(omrîJ(Qggmvñîsjóvinhj(rpi(uipwj(rnk(ñóprjij(jlgó(rj{(
BA9:>)A)B9b>

o9JA@CA)8AkFQ9û
Rinhingij(¨Kr(kinmhi(rghsushsij(shó(hói(ksjhsnghsui(òirhlpij(ªL(jhrhsushïP(¡(klL
prhsmnP(L(omrîJ(VóljP(hói(îrgè(mò(hói(kspigh(mwìigh(igîlkij(r(omrî(rnk(svñîsij(
rhiîsgshïJ(Sn(hói(mhóip(órnkP(hói(isjhingi(mò(r(kspigh(mwìigh(inhrsîj(r(omrî(sn(jinL
hingij( ¨Kw( pinkipsno( hói( jshlrhsmnj( hiîsgJ(VóipiòmpiP( hói( jshlrhsmnj( sn( ¨Kw( rpi(
rggmvñîsjóvinhjJ(
Vói(rnrîïjsj(órk(jómn(hórh(sn(wmhó(îrnolroijP(sn(rkkshsmn(hm(hói(ñpijingi(mp(
rwjingi(mò(hói(kspigh(mwìigh(sn(r(jinhingiP(hói(uipï(jhplghlpi(mò(hói(nmln(ñóprji(
òlnghsmnsno(rj(hói(kspigh(mwìigh(órj(rn(svñrgh(mn(hói(hïñi(mò(hói(uipw(jshlrhsmnJ(
bmp(irvñîi{
¨H(rJ(di(kprnè(rhipJ(
((((((((((((((((Yî(r(wƒlh(rñƒJ
((((((wJ(di(kprnè(hópii(oîrjjij(mò(rhipJ((
((((((((((Yî(r(wƒlh(hpis(ñrórpi(ki(rñƒJ(
Rinhingij( ¨Hr( rpi( lnwmlnkik( rnk( rhiîsg( jsngi( hói( jshlrhsmnj( ñpijinhik( wï(
hóiv(km(nmh(hink(hmrpkj(r(omrîJ(Vói(kspigh(mwìigh(pirîsik(rj(lngmlnhrwîi(nmln(
gA>@G( S) ABz) pinkipj( hói( jshlrhsmn( lnwmlnkikJ( Sn( hói( mhóip( órnkP( sn( jinhingij(
¨Hw(hói(kspigh(mwìigh(¨>JG@@);CA==@=)Fi)gA>@G)£)>G@9)BAJAG@)H@)ABz(kinmhij(r(ûnrî(
ñmsnhP(mp(r(omrî(ósgó(rj(rghlrîîï(pirgóik(rnk(ròhip(ósgó(hói(jshlrhsmn(gmlîk(
nmh(wi(gmnhsnlikJ(VóljP(jinhingij(¨Hw(rpi(wmlnkik(hiîsg(jshlrhsmnjP(sJiJ(rggmvL
ñîsjóvinhjP(óipirj(jinhingij(¨Hr(rpi(lnwmlnkik(rhiîsg(jshlrhsmnj(sJiJ(rghsushsijJ(
Vói(pijirpgó(órj(rîjm(ñpmuik(hórh(rggmvñîsjóvinh(uipwj(jlgó(rj(f9PB)¨`mhójhisn(HMM§{çJ(
bmp(irvñîi{(((
¨ç(rJ(ôrpï(wlsîh(r(£(hói(ómlji(‹òmp(r(iiè(£(sn(r(iièJ(
(((((((((((((((((ôrpï(r(gîƒksh(m(grjƒ(£(grjr(‹m(jƒñhƒvnƒ(£(›nhpLm(jƒñhƒvnƒJ
((((((((wJ(ôrpï(wlsîh(hói(ómljij(‹òmp(r(iiè(£(sn(r(iièJ(
((((((((((((ôrpï(r(gîƒksh(grjiîi(‹m(jƒñhƒvnƒ(£(›nhpLm(jƒñhƒvnƒJ
((((((((gJ(ôrpï(wlsîh(ómljij(òmp(r(iiè(£(‹sn(r(iièJ(
((((((((((((ôrpï(r(gîƒksh(grji(m(jƒñhƒvnƒ(£(‹›nhpLm(jƒñhƒvnƒJ
Un(wmhó(îrnolroijP(hói(irvñîij(¨çr(sîîljhprhi(hói(nmhsmn(mò(r(uipw(ljik(hmL
oihóip(shó(r(jñigsûik(mp(lnjñigsûik(jsnolîrp(kspigh(mwìighP(hói(jshlrhsmnj(snksL
grhik(wï(jlgó(gmnjhplghsmnj(órui(górprghipsjhsgj(mò(rggmvñîsjóvinhj(shó(ksjL
hsnghsui(òirhlpij(ªL(jhrhsushïP(¡(klprhsmnP(¡(omrîJ(Vói(jrvi(sj(urîsk(mp(hói(kiûnshi(
ñîlprî(kspigh(mwìighj(¨çwJ(dmiuipP(sò(rggmvñîsjóvinh(uipwj(rpi(òmîîmik(wï(r(
ã§

VdY(UWbZ\YWTY(Sb(VdY(XU`YTV(SaeYTV(SW(QR^YTV(QWX(QüVUSWRQ`V(UWJJJ
wrpi(ñîlprî(kspigh(mwìigh(îsèi(sn(¨çgP(hói(jshlrhsmnj(sn(úlijhsmn(rpi(gmnjskipik(órL
wshlrî(rghsushsij(shó(ksjhsnghsui(òirhlpij(ªL(jhrhsushïP(¡(klprhsmnP(L(omrîJ
Vói(rnrîïjsj(órj(jómn(hórh(hói(lji(mò(hói(ñpmopijjsui(òmpv(sn(Ynoîsjó(rj(
iîî(rj(hói(lji(mò(hói(svñipòigh(¨9PB@Gi@b>

ãã
o9JA@CA)8AkFQ9û
¨ä(rJ(emón(rj(ñljósno(hói(grph(òmp(rn(ómlp(£(‹sn(rn(ómlpJ
((((((((((((((((emón(›vñsnoir(grplî(m(mpƒJ(£(‹(›nhpLm(mpƒ
((((((((((((((((((((((((wJ(emón(rj(ñljósno(grphj(òmp(rn(ómlp(£(‹sn(rn(ómlpJ
((((((((((((((((((((((((((((emón(›vñsnoir(grpiîi(m(mpƒ(£(‹(›nhpLm(mpƒJ
Vói(pijirpgó(órj(jómn(hórhP(sn(wmhó(îrnolroijP(hói(kspigh(mwìigh(kmij(nmh(ròL
òigh(hói(hïñi(mò(hói(uipw(jshlrhsmn(shó(jhrhij(rj(iîîJ(bmp(irvñîi{
¨I(rJ(U(ènm(hói(rnjipJ
((((((((((((((((fihsl(pƒjñlnjlîJ
((((((wJ(U(ènm(hói(rnjipjJ
((((((((((fihsl(pƒjñlnjlpsîiJ
Vói(jshlrhsmn(órj(górprghipsjhsgj(mò(r(jhrhi(óin(ljik(shó(ishóip(jsnolîrp(mp(
ñîlprî(kspigh(mwìighJ(Rhrhij(rpi(lnwmlnkik(rnk(rhiîsg(jshlrhsmnj(shó(ksjhsnghsui(
òirhlpij(ª¡(jhrhsushïP(¡(klprhsmnP(L(omrîJ(Rmvi(jhrhij(grn(wi(ljik(sn(hói(ñpmopijL
jsui(rnk(kinmhi(svñipòighsui(rjñigh{(
¨KM(rJ(U(rj(ómñsno(òmp(r(îmno(hsviJ
((((((((((((((((((Rñiprv(vlîh(hsvñJ(
Un(¨KMr(hói(jshlrhsmnj(jsvñîï(îrjh(sn(hsvi(rnk(km(nmh(snumîui(hói(nmhsmn(mò(r(
omrîJ
Un(`mvrnsrnP(jhrhsui(uipwj(grn(kinmhi(svñipòighsui(rjñigh(rj(iîî{(
¨KK(rJ(Tnk(rv(òmjh(vsgƒ(gpikirv(›n(ôm(TpƒgslnJ(
((((((((((((((((((©óin(U(rj(îshhîiP(U(wiîsiuik(sn(Rrnhr(TîrljJ(
Vói(pijirpgó(órj(jómn(hórh(piorpkîijj(mò(hói(jhplghlpi(mò(hói(nmln(ñóprji(
òlnghsmnsno(rj(hói(kspigh(mwìighP(rgósiuivinh(uipwj(snksgrhi(hiîsg(jshlrhsmnj(ósgó)
grn(wi(vmksûik(wï(hói(rkuipwsrî(9:)¢( >9P@)S)|:)§)>9PBJ(bmp(irvñîi{
¨KH(rJ((di(mn(r(£(hói(prgi(sn(hin(jigmnkj(£(‹òmp(hin(jigmnkjJ(
((((((((((((((((((Q(›nusnj(îr(gmvñihssi(›n(igi(jiglnki(£(‹(igi(jiglnkiJ
((((((((wJ(di(mn(hói(prgij(sn(hin(jigmnkj(£(‹òmp(hin(jigmnkjJ
((((((((((((Q(›nusnj(îr(gmvñihsss(›n(igi(jiglnki(£(‹(igi(jiglnkiJ
((((((((gJ(di(mn(vrnï(prgij(sn(ósj(grpiipJ
((((((((((((Q(›nusnj(îr(vlîhi(gmvñihsss(›n(grpsipr(jrJ
dmiuipP( hói( irvñîij( ¨KHwPg( snksgrhi( hórh( óin( ljik( shó( rgósiuivinh(
uipwj(r(ñîlprî(kspigh(mwìigh(svñîsij(piñihshsmn(sn(wmhó(îrnolroijJ(
Xijñshi( hói( òrgh( hórh( rgósiuivinhj( kinmhi( vmvinhrpï( jshlrhsmnjP( hóipi( rpi(
vrnï(rgósiuivinh(uipwj(ósgó(rpi(oprvvrhsgrî(sn(hói(ñpmopijjsuiP(rj(hói(iL
rvñîij(sn(¨Kç(snksgrhi{
¨Kç(rJ( Rljrn(rj(rppsusno(rh(hói(jhrhsmn(óin(jói(óirpk(hórh(
hói(hprsn(hm(Zmnkmn(órk(wiin(grngiîîikJ
(((((((((((((Rljrn(rìlnoir(îr(jhrsi(gnk(r(rlsh(gƒ(hpinlî(jñpi(
Zmnkpr(òljiji(kinlnrh(J

VdY(UWbZ\YWTY(Sb(VdY(XU`YTV(SaeYTV(SW(QR^YTV(QWX(QüVUSWRQ`V(UWJJJ
((((((((wJ(emón(rnk(Rljrn(rpi(ûnrîîï(îirusnoJ
(((((((((((((((((((((((((((((((((((((((((emón(s(RljrnP(›n(ûnrîP(ñîirgƒJ
((((((((gJ(Vói(ñîrni(sj(îrnksnoJ
((((((((((((Qusmnlî(kigmîirƒJ
((((((((kJ(erni(sj(ìljh(pirgósno(hói(jlvvshJ
(((((((((((((((((((((((((((((((((((((((((erni(ji(lpgr(ñi(upòlî(vlnhiîls(gósrp(›n(rgijh(vmvinhJ
Ynoîsjó(ñpmopijjsui(rgósiuivinhj(rpi(hprnjîrhik(shó(hói(`mvrnsrn(svñipòigh(
¨9PB@Gi@b>

o9JA@CA)8AkFQ9û
3-L-3-XY-/'
QuprvP(ôJ(ih(rîJ(¨HMMKJ(]:b9bCFB@H9A)C9Pf99)GFPy:@s)alglpihs{(\nsuipj(ingsgîmñiksgJ(
Qgrkivsr(pmvnƒP(Unjhshlhlî(ki(îsnousjhsgƒ(Umpol(UmpkrnøJ(
apƒijglP(`J(ih(rîJ(¨HMMåJ(jGAPA>9bA)C9Pf99)GFPy:@s)`)cJ(Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjJ(
XróîP(flJ(¨KIäâJ([@:=@)A:H)T=B@b>)ae=>@P=J(Sòmpk{(arjsî(aîrgèiîîJ(
XigîipgèP(`J(¨KIâIJ(®Qjñigh(rnk(hói(wmlnkik£lnwmlnkik(¨hiîsg£rhiîsg(ksjhsnghsmnfJ(Lin­
;9b=(KâLâ£äP(Vói(droli{(ômlhmnP(ññJ(âãKLâI§J(
8J@=@=SÉååàSÑà•ÅSGoGJopo_B@qtJopAf=>GAb>sBHi
WmurèmuP(^J(¨HMMåJ)jCA;FC=R9)Q9H)9)>9B);CA;FC=R@)=9>9b=) Fi) 8@ñ9bAC)T=B@b>s)
aîrgèiîî(^lwîsjósno(ZhkJ
RvshóP(TJ(¨KIäãJ(®Q(RñirèipLwrjik(Qññpmrgó(hm(QjñighfJ(89:;9b=)A:H)OJ9CF=FBJe(IP(
N m (KP(XmpkpigóhP(ññJ(IâLKKåJ(
cinkîipP(õJ(¨KIãâJ(®cipwj(rnk(Vsvijf(sn(89:;9b=)9:)OJ9CF=FBJeJ(Uhórgr{(Tmpniîî(\nsL
uipjshï(^pijjP(ññJ(IâLKMIJ
6;A7=B7#B7CD>;?
ãä
ZfUWbZ\YWTY(X\(TSô^Z_ôYWV(XfSaeYV(XU`YTV(R\`(ZfQR^YTV(YV
QüVUSWRQ`V(XQWR(ZfQW[ZQUR(YV(ZY(`S\ôQUW
`tjlvt
Xrnj(gih(rphsgîi(nmlj(rnrîïjmn(îfsn¿lingi(kl(gmvñîtvinh(kfmwìih(kspigh(jlp(îfrjñigh(uipL
wrî(ih(Qèhsmnjrph(krnj(îfrnoîrsj(ih(îi(pmlvrsnJ(Zr(pigóipgói(r(ñpmlut(úlfin(îfrnoîrsj(rsnjs(
úlfin((pmlvrsn(îfsnhipñpthrhsmn(kl(hiîsg(£(rhiîsg(ñpmusinh(ki(îr(ñptjingi(ih(kij(ñpmñpsthtj(
kl(gmvñîtvinh(kfmwìih(kspighJ(‡(jrumspP(îrñ(ptjingi(kl(gmvñîtvinh(kfmwìih(kspighP(rljjs(
wsin(úli(jr(jhplghlpiP(ròòighi(îfrjñigh(uipwrî(ih(îi(hïñi(ki(jshlrhsmn(ki(uipwi(krnj(îi(jinj(
úli(îi(gmvñîtvinh(kfmwìih(kspigh(ñilh(ñptjinhip(îr(nmhsmn(ki(htîsgsht(rl(uipwij(rhtîsúlij(
górnoirnh(ñrp(gmnjtúlinh(îi(hïñi(ki(jshlrhsmn(ki(uipwiJ(Yn(mlhpiP(krnj(îij(kil(îrnolijP(

VdY(UWbZ\YWTY(Sb(VdY(XU`YTV(SaeYTV(SW(QR^YTV(QWX(QüVUSWRQ`V(UWJJJ
îfrjñigh(svñipòighsò(nilhprîsji(îr(nmhsmn(kfln(wlh(ih(pink(kij(jshlrhsmnj(hiîsúlij(rhiîsúlij(
jrnj(hinsp(gmvñhi(ki(îr(jhplghlpi(kl(gmvñîtvinh(kfmwìih(kspighJ
oF>=)bCD={(mwìih(kspighP(rjñighP(QèhsmnjrphP(htîsgshtP(rggmvñîsjjivinhJ
ôsóriîr(Zrmusí(
\nsuipshih(l(Wmumv(RrklP(bsîmmòjès(òrèlîhih(
iLvrsî{(îrKçÀnrkîrnlJgmv
ãI

âM

MIHAELA MUNTEANU SISERMAN
0*3?4-43/'YZbd/1L/'*4'X1[-*4''
.4')-_)-Å.1/YZ43/k''
,*'3-,*)1ZX'*X*abZ31?4- 1 O''
4X-'*aa3ZYb-'YZX)3*/)1[-'-X)3-''
,-'L3*Xü*1/'-)',-'3Z40*1X
Zfthlki(gmvñrprhsui(kl(òmnghsmnnivinh(rnrñómpsúli(piîqui(îi(òrsh(úli(îr(hïñmîmosi(kij(
iñpijjsmnj(ptòtpinhsiîîij(ijhP(in(otntprîP(îr(v”vi(krnj(îij(kil(îrnolij(¨îi(pmlvrsn(ih(
îi(òprn·rsjP(jrlò(úliîúlij(igiñhsmnj(klij(x(îr(jñtgsûgsht(ki(górúli(jïjhqvi(îsnolsjL
hsúli(kmnh(mn(vinhsmnni(îr(ñmjshsmn(nmnLvrpúlti(in(pmlvrsn(kl(ñpmnmv(ñipjmnniî(jlìih(
ki(îr(UUUi(ñipjmnniP(pihpmlurwîi(krnj(îr(ktjsningi(uipwrîi(ih(úls(ìmliP(in(pmlvrsnP(ln(
p‚îi(ki(gmnhsnlrhilp(hótvrhsúliæ(ki(v”viP(îr(ksjhpswlhsmn(kij(òmpvij(kl(ñmjjijjsò{(krnj(
îr(ñîlñrph(kij(grj(îfrkìighsò(ñmjjijjsò(kl(òprn·rsjP(kthipvsnrnh(kfln(nmv(úls(ktjsoni(lni(
ñrphsi(kl(gmpñjP(ñrjji(in(pmlvrsn(jmlj(îr(òmpvi(kfln(krhsò(ñmjjijjsòJ
oF>=)bCD=({(iñpijjsmn(ptòtpinhsiîîiP(piîrhsmn(rnrñómpsúliP(rnrñómpsjrnhP(rnrñópmpsjtP(
gmótjsmn(hihliîîi
lO'1X)3Z.4Y)1ZX'
Zr(gmótjsmn(hihliîîi(ijh(ktûnsi(krnj(îi(^9b>9F::A9G@)HIA:ACe=@)H

o9JA@CA)o@A:

ôQ`]\Y\`R(TSd_RUbR(Q\(WUcYQ\(X\(VY¢VYLXURTS\`R{(ZQ(`YZQVUSW(JJJ
mOlO'*poztFKA'pFEJpoBA'ñH†BA
¨K(aF:)P@:>F:)QF)G@EF9:HG@)le nezl)PA9=)F:)QFeA9>l)HA:=)C@)bAGAb>dG@)
H@)ce :@k)fF==F::@J(
¨arîrg
¨H([Gz9A)FHA>z)o femeie)=zGAbz)}9)femeia aceea)A)GzPA=)QzH@QA)=zB>zPy:9)H9):@PFAG@J
¨ç(^A:=)CA)BCA9:@)GF=@)ªº)un)JFPP@)=)=@A9>)BAG>9)H@)oAGbJ9@::@=)Q@G=)H@zBy:

o9JA@CA)o@A:){HdC@)©)=F:)PA|>G@J Le chien)H@)
{H@C)=>zBy:

ôQ`]\Y\`R(TSd_RUbR(Q\(WUcYQ\(X\(VY¢VYLXURTS\`R{(ZQ(`YZQVUSW(JJJ
^mlp(¨äP(îr(piñpsji(ki(îfiñpijjsmn(nmvsnrîi(ktjsonrnh(îi(ptòtpinh(snhpmklsh(
krnj(îi(hihi(ñrp(ln(ktjsonrhilp(psoski(¨îi(nmv(ñpmñpi(ñrp(ñîljsilpj(mgglppingij(
kl(ñpmnmv(ñipjmnniî(ki(îr(hpmsjsqvi(ñipjmnni(rjjlpi(îr(gmótjsmn(hihliîîiJ(VmlL
hiòmsjP(îi(ñipjmnnroi(ijh(vrsnhinl(krnj(îi(òmglj(x(hpruipj(îr(ñpmopijjsmn(x(hóqvi(
gmnjhrnhJ(RgótvrhsúlivinhP(mn(ñilh(piñptjinhip(îfmpornsjrhsmn(kl(òprovinh(ki(îr(
vrnsqpi(jlsurnhi({
(VóqviK({(¨YK(Tórpîij(( 1B 1
( ¨YH
( ( ( ( 1B m'
¨Yç
' ' ' ' 1B 'u'
¨Y§
ô”vi(js(rññrpivvinh(îfrnrñómpsjrhsmn(jlsh(îij(v”vij(vtgrnsjvij(krnj(îij(
kil(jïjhqvij(îsnolsjhsúlijP(in(pmlvrsn(îfrnrñómpi(ñpmnmvsnrîi(ji(ptrîsji(ñrp(
ln(A:ABJFG9?)9:bC9?

âã
o9JA@CA)o@A:)BA=l)C@CC@=)?

ôQ`]\Y\`R(TSd_RUbR(Q\(WUcYQ\(X\(VY¢VYLXURTS\`R{(ZQ(`YZQVUSW(JJJ
Yn(pmlvrsnP(îftúlsurîinh(ki(gih(rnrñómpsúli(ijhP(krnj(îr(ñîlñrph(kij(grjP(îi(
ñpmnmv(ñipjmnniî(òmpvi(rhmniP(in(Xrhsò(¨gmnnl(jmlj(îi(nmv(ki(HA>9i)BF==@==9i 4
( Yn(hrnh(úli(jlwjhshlh(kl(nmvP(Ap'ijh(in(urpsrhsmn(kthipvsnti(ruig(îi(kthipvsL
nrnh(ñmjjijjsòP(js(gi(kipnsip(òrsh(ptòtpingi(x(lni(ñipjmnni{
¨Kå(8@=)BAG@:>=)=F:>)@:bJA:>D=)H@)CA)GD@)H@)C@s)
ß) 8@=) BAG@:>=) =F:>) @:bJA:>D=) H@) sa) GD@J( ¨Zr( ptljjshi( ki(
îfinòrnh
) ¨Kåf(OzG9:ã99)=)|:by:>Aã9)H@)G@A)bFB9C

o9JA@CA)o@A:
¨HKf(ÄG@f9)H@=BG@)=9:@)|:)B)F)HA>z)|:)Q9Aãzsss)
}9)=z):)bFPf9@:)@CC@)y D>A9>)
=@:=9fC@s
mJ(Zfsnhipñpthrhsmn(kij(ñótnmvqnij(rnrñómpsúlij(ni(ñilh(ñîlj(ji(ptklspi(x(lni(
ptjmîlhsmn(jhpsghivinh(îsnolsjhsúliJ(Xrnj(wsin(kij(grj(îfrhhpswlhsmn(kl(ptòtpinh(x(
lni(iñpijjsmn(ptòtpinhsiîîi(kivrnki(ln(ñrpgmlpj(snòtpinhsiî(¨ki(nrhlpi(gmonshsL
usjhiP(ñprovrhsúliP(ihgJJ
Zfthlki(gmvñrprhsui(piîqui(îi(òrsh(úli(îr(hïñmîmosi(kij(iñpijjsmnj(ptòtpinL
hsiîîij(ijhP(in(otntprîP(îr(v”vi(krnj(îij(kil(îrnolijP(igiñhsmn(òmnh(îij(ñpmnmvj(
rkuipwsrl(YW(ih(†(úls(nfmnh(ñrj(kftúlsurîinhj(in(pmlvrsnJ(Tij(ñpmnmvj(gmpL
pijñmnkinh(in(pmlvrsn(x(kij(rnrñómpij(tpm(8(prsjmn(ñmlp(îrúliîîi(in(òprn·rsj(
îilp(ivñîms(rjjlpi(ñîlj(ki(gmótjsmn(kl(ksjgmlpj(8(ml(x(kij(ñpmnmvj(ñipjmnniî(ml(
ktvmnjhprhsò(gmnjhplshj(ruig(îij(ñptñmjshsmnj(H@(¨ñmlp(îfrkuipwsrî(en(ml(CA(¨ñmlp(
eJ(Zij(vtgrnsjvij(ki(îr(piîrhsmn(rnrñómpsúli(jmnh(rnrîïjtj(ki(îr(ñipjñighsui(kij(
iñpijjsmnj(nmvsnrîij(ptòtpinhsiîîij(¨nmhrvvinh(îfrnrñómpi(ñpmnmvsnrîi(ih(ki(
îilp(p‚îi(rl(nsuirl(ksjglpjsòJ(Zij(ñpmnmvj(ñipjmnniîj(ki(îr(hpmsjsqvi(ñipjmnni(
in(ñmjshsmn(ki(jlìih(¨òmpvij(rhmnij(mnh(gmvvi(túlsurîinh(pmlvrsn(îr(ñmjshsmn(
nmnLvrpúlti(kl(jlìih(ki(îr(UUUi(ñipjmnniP(pihpmlurwîi(krnj(îr(ktjsningi(uipwrîi(
ih(úls(ìmliP(in(pmlvrsnP(ln(p‚îi(ki(gmnhsnlrhilp(hótvrhsúliæ(împjúlfsî(ijh(iñpsvtP(
sî(ñpmklsh(kij(iòòihj(ksjglpjsòj(ksòòtpinhj{(kfsnjsjhrngi(ml(kfivñórjiJ(
+1+,1Z`3*ab1-
QuprvP(ôsmrp(¨KIIâP((jGAPA>9bA)B@:>GFã9P(YkJ(dlvrnshrjP(alglpihsJ
TórprlkirlP( ^rhpsgèP( ôrsnolinirlP( XmvsnsúliP( ^9b>9F::A9G@) HIA:ACe=@) H9@CC@=)@:)iGA:®A9=P(YksL
hsmnj(SñópïjP(^rpsjJ
TpsjhirP(Vimkmpr(¨KIââP(]CDP@:>=)H@);GAPPA9G@)bF:=>GA=>9Q@)HFPA9:@)iGA:®A9=rGF9F::A9G@)@:bebCFBDH9?9?9F::A9G@)@:bebCFBDH9?

ôQ`]\Y\`R(TSd_RUbR(Q\(WUcYQ\(X\(VY¢VYLXURTS\`R{(ZQ(`YZQVUSW(JJJ
ôsînipP(eirnLTîrlki(¨KIäHP(ZGHG@)@>)GA9=F:=)H@)CA:;9bA)>@ñ>

äM

:FG7HI7#C>=I;?#:FG7HD>;?
{ZX)3*/)1[XZ'Z'3-¢-X1Y*0*')1a*''
CD'ED'CFGH'('CD'IF'ED'CFGHJ
\(prkl(ji(ñmîrs(mk(kur(hsñr(jpñjèsó(lñshnsó(piêinsgr(8(mnmo(èmìio(èrprèhipséi(mkjljhum(
piês(HA(s(l(èmìiv(ìi(jshlrgsìr(nr(èmìl(ji(ñshrnìi(mknmjs(ñmjhmìiís(òrèrh(s(mnmo(l(èmìiv(ìi(
mur(piê(ñpsjlhnrP(r(jshlrgsìr(nr(èmìl(ji(ñshrnìi(mknmjs(nsìi(ñmjhmìiís(òrèrhJ(Qnrîsr(vrL
⁄rpjèsó(ièusurîinrhr(ñmèrlìi(kr(ji(l(ñpumv(jîlêrìl(mjhurplìl(piêinsgi(èmìi(s(òmpvrînm(
mkomurprìl(mnsvr(l(jpñjèmv(ìisèlP(kmè(ji(l(ñpiumknsv(ièusurîinhsvr(jpñjèsó(piêinsgr(
jr(HA)nrìêiéíi(ñmìruîìlìl(piêinsgi(êsìs(jl(ñpiksèrhs(mjhurpins(sîs(l(svñiprhsul(sîs(l(uskl(
èmnjhplègsìi(j(vmkrînsv(oîromîmv(R@CC(¨Õ(>G@fA>9(s(kmñlnmv(l(snûnshsulJ(\èrlìi(ji(nr(
hm(kr(ìi(hrkr(piê(HA(jrjhruns(kim(jpñjèmo(nivmwsînmo(ñpiinhrP(r(hrèm(jhplèhlpsprnr(lñshnr(
piêinsgr(svr(s(vmkrînm(nrêinìiJ(
YCE9BA)YF)>F)RA@)S)YF)HA)>F)RA@(¨HMMM{(
âåLä§(rèrkivsè(ôJ(Uusí(ñmsur(nr(nrjhrurè(sjhprësurnìr(l(ñprugl(prjuihîìrurnìr(
nièsó(èmnjhplègsmnsó(mwruinmjhs(l(jpñjèsv(piêinsgrvrJ(^mkjhrènlhr(musv(ñmsL
umv(s(svrìlísP(ñps(hmvP(l(uskl(kr(èmnhprjhsunr(ñpmlêrurnìr(ìisèr(vmol(kmñpsnihs(
jroîikrurnìl(ìisêèsó(ñmìrur(l(ìiknmv(ìisèl(s(kplorêsìio(loîrP(mñpikiîsîr(jrv(
ji(kr(hsñmui(èmnjhplègsìr(èmìi(rlhmpèr(prvrhpr(lñmpiksv(jr(nìsómusv(ñpiumknsv(
ièusurîinhsvr(l(vr⁄rpjèmv(ìisèlJ
^pikvih(prvrhprnìr(nruikinmo(prkr(ìijhi(oprvrhsêèr(mjmwsnr(jñmnrìnsó(piês¥ 1 (
l(jpñjèmv(ìisèl(¨èrm(éhm(jl{(YFul)Æ>Aul)jH@ul)YAHu(s(jîJ(èmìr(ji(jrjhmìs(l((vmolíL
nmjhs(nìsómumo(jñrìrnìr(j(uinsèmv(HAJ(Qlhmpèr(ñpsviílìi(kr(ìi(ìisêèsv(jhplênìrgsL
vr(èmìs(jl(mjuihîìrurîs(jpñjèi(lñshni(piêinsgi(svrèîr(ìiknr(piîiurnhnr(ñmìiksnmjh{(
lîmor(èmìlP(ñps(jhplèhlpsprnìl(mkpi⁄ini(upjhi(ñshrnìrP(kmwsìr(ñmkprlviurnìi(hmor(kr(
jshlrgsìr(nr(èmìl(ji(krhm(ñshrnìi(mknmjs(ìijhi(£(nsìi((ñ(m(j(h(m(ì(i(í(s((òrèrh¥(¨jhpJ(âãJ(`iê(
ìiP(nrsviP(m(lñshnsv(piêinsgrvr(êsìs(ìi(ñpiksèrh(mjhurpin(ñpiinhmv(svñipòièhsunmo(
‹(
Surì(prk(ìi(nrjhrm(l(mèuspl(ñpmìièhr(a>A:HAGH:9)=GB=R9)E@k9R(¨K§äMKMP(èmìs(ûnrnjspr(ôsnsjhrpjhum(
r(nrlèl(s(hiónmîméès(prumì(`iñlwîsèi(RpwsìiJ
K( ( Rñmnrìnsv(piêsvr(îmosêrps(nrsurìl(mni(îijèsêèmLoprvrhsêèi(ìiksnsgi(ìisèr(èmìi(jlP(wmo(nìsL
ómui(lñshni(lñmhpiwiP(jprêlnrhi(nr(ñpswruîìrnìi(iîivinhrpni(jñmnrìi(jhurps(¨ôJ(UusíP(HMMM{(âåJ
äK

^9u)1)çAW>F)HA)=@)û9uÜ)Æ>A)
:A)>F)G@û9u)1)Æ>A):A)>F)HA)=@)RA@u(¨jhpJ(âäJ
HJ(Uvrìlís(l(uskl(mur(rñrërnìr(s(ñpihñmjhruîìrìlís(kr(ìi(rsjhr(l(ñshrnìl(mjmwiL
nmjh(jpñjèsó(lñshnsó(piêinsgr(vmëivm(ji(rñshrhs(èrèru(íi(jhplèhlpns(îsè(svrhs(jiL
vrnhsêès(ièusurîinhni(piêinsgi(l(vr⁄rpjèmv(ìisèlJ(\(mjnmus(èmnhprjhsuni(rnrL
îsi(èmìr(ji(rjnsur(nr(skinhsûèmurnìl(ñpiumknsó(ièusurîinrhr(ìijhi(rìiknsêèr(
jivrnhsèr(iîivinrhr(ñmjvrhprnsó(ìisèrJ(^pihñmjhruèr(ìi(kr(ñpiumkns(ièusurîinhs(
ñpinmji( nrêinìi( iîivinrhr( ñmîrnmo( ìisèrP( nirusjnm( mk( òmpvrînsó( èrprèhiL
psjhsèrJ(R(gsîìiv(kr(ji(kmwsìi(lusk(l(ñpiumkni(ièusurîinhi(ñmjvrhprnsó(jpñjèsó(
lñshnsó(piêinsgrP(ñpsvips(èmìi(nrumks(ôJ(Uusí(krhs(jl(nr(ñpium⁄inìiJ H (`ilîhrhs(
èmìs(jl(ji(ñmìrusîs(ñpsèrrns(jl(l(hrwiîs{
jpñjès(Q vr⁄rpjès(Q jpñjès(a vr⁄rpjès(a
üm(hm(èrëi¬
Sk(èmor(hprëi(
ñmvmí¬
öhr(ji(prks(l(hrèL
umv(jîlêrìl¬
üs(vmnkìr(ih¬(
üs(vmnkìr¬(
üshÍî(ètpniè(jiL
oÎhjtoih¬
ôsh(jmèÏj(hinns(
sîïinèmp¬(
üm(kr(hm(èrëi¬
Sk(èmor(kr(
hprëi(ñmvmí¬
öhr(kr(ji(prks(l(
hrèumv(jîlêrL
ìl¬
üs(vmnkìr(vio¬
üsniè(èiîî(ih£rh(
¨viovmnkrnsr¬(
üshÍî(ètpìiniè(jiL
oÎhjtoih¬(
üshÍî(èiîî(jioÎhjtL
oih(ètpnsÃè¬
ôsh(hioïiniè(sîïin(
óiîïihwin¬
ôsh(èiîî(hinns(
sîïinèmp£(mîïrn(
óiîïihwin¬(
H( ( Unòmpvrhmps(jl(wsîs(hps(ñpmòijmpr(vr⁄rpjèmo(ìisèrP(jus(vr⁄rpjèm(8(jpñjès(wsîsnourîns(omumpnsgsJ(
äH

üSWV`QRVUcWS(S(`YYWUTQôQ(VU^Q'YZ)[Z)YT\]'('YZ)^T)[Z)YT\]
jpñjès(Q vr⁄rpjès(Q jpñjès(a vr⁄rpjès(a
S(êivl(omumps¬ ôspÍî(wijtî¬ S(êivl(kr(omL
umps¬
[ki(ji(jrjhrìl¬
dmî(jmèhrè(hrL
îÏîèmns¬
dmî(hrîÏîèmnrè¬
[ki(kr(ji(jrjL
hrìl¬
ürkr(ñlhlìivm¬ ôsèmp(lhrlnè¬ ürkr(kr(ñlhlL
ìivm¬
õréhm(ílhshi¬
ürèm(ji(mn(hrvm(
kpës¬
Wr(èmìr(ji(uprhr(
lîrs¬
ôstph(
órîîorh¨hmè¬
dmoïrn(usjiîèiL
ksè(Í(mhh¬
dmoïrn(hrphìr(
vroÏh¬
ôiîïsè(r(wiìÏprhs(
rìh̬
dmî(urn(r(wiìÏL
prh¬
õréhm(kr(ílhshi¬
ürèm(kr(ji(mn(
hrvm(kpës¬
Wr(èmìr(uprhr(
kr(ji(lîrs¬
ôspÍî(wijtîìin¬
ôspÍî(èiîî(wijtîL
nsi¬(
dmî(hrîÏîèmmnrè¬(
dmî(èiîî(hrîÏîèmL
nslè¬
ôsèmp(lhrlnè¬(
ôsèmp(èiîî(lhrL
nlnè¬
ôstph(órîîorjjmn
£órîîorjjrhmè¬(
dmoïrn(usjiîèikL
ìin(Í(mhh¬(
ôiîïsè(îioïin(r(
wiìÏprhs(rìh̬
ôiîïsè(rìhÌn(èiîî(
wivinns¬(
õr(êsìs(prêln(
osnl¬
Xr(îs(mn(nìl(mwsL
îrs¬
ôstph(ÏîkmÏè(
òiî(tîihÃèih¬(
üstph(órînrè(
vio¬
ôio(jmèhrLi(îÏL
hmorhns¬
ZÏhmorhìr(Íh¬
õr(êsìs(prêln(kr(
osnl¬
Xr(îs(kr(mn(nìl(
mwsîrs¬
õrp(nìior(óurîi¬ Óh(kÎgjtpsè¬ õrp(kr(nìior(
óurîi¬
ôstph(ÏîkmÏè(òiî(
tîihÃèih¬ 3 (
üstph(órîìrnrè(
vio¬
üstph(èiîî(vioórîL
nslè¬
ZÏhmorjjrLi(Íh¬
ZÏhmorjjr(Íh¬
ZÏhmorhnsr(èiîî(Íh¬
Óh(ksgjtpìtè¬
Óh(èiîî(kÎgjtpns£
ómoï(kÎgjtpìtè¬
ç(
Swîsgs(ñpiinhr(snksèrhsur(s(svñiprhsur(çJ(îsgr(ìiknsni(s(jur(hps(îsgr(vnmësni(skinhsêns(jl(l(mwL
ìièrhjèmì(èmnìlorgsìs(nièsó(vr⁄rpjèsó(oîromîr(¨QnkpsíP(HMMH{(KIHJ(Unòmpvrhmps(jl(s(jhrusîs(nrñmL
vinl(kr(ìi(l(èmîmns(Q(ñpiinh(snksèrhsurP(r(l(èmîmns(a(svñiprhsuJ
äç

ä§
^A)=@)GAH9)ARQFP)=C@::9)9Ce@:RFGuÜ)jH@)=@)=A=>AEAR)>ACØCRFk:9uÜ)^A)C9)F:):EAr@)CØ>F;A>:9uJ)Rivrnhsèr(musó(îièjivr(lñlílìi(nr(hm(kr(jl(l(hsv(
jîlêrìiusvr(ñpiumksmgs(jvrhprîs(r(ñmhpiwnsv(kr(sjèrël(ni(jrvm(òrèhsunmjh(krhi(
jshlrgsìi(uií(s(ñmupivinmjhP(lmwsêrìinmjh(nìinmo(mjhurpsurnìrJ
§J(õr(prîsèl(mk(jpñjèsóP(vr⁄rpjèi(lñshni(piêinsgi(hsñr(a(èrprèhipséi(ñmìruîìsL
urnìi(svñiprhsur(sîs(èmnjhplègsìi(èmìr(ji(jrjhmìs(mk(vmkrînmo(oîromîr(R@CC))>G@­
fA>9(jr(kmñlnmv(l(snûnshsulJ 4 (csksvm(kr(ji(òmpvrînr(mwiîiëìr(lñshnsó(piêinsgr(
hsñr(a(prîsèlìl(l(jpñjèmv(s(vr⁄rpjèmvJ
\(vr⁄rpjèmv(ìi(svñiprhsuP(èrm(lmjhrîmv(s(l(jpñjèmvP(oîromîjès(mwîsè(èmìs(
ñpuinjhuinm(jîlës(sjèrsurnìl(prîsêshsó(nsìrnjs(ñmkjhsgrìr(¨rñmuijhsP(vmîwiP(jrL
uihrP(ñpiñmplèiJJJ(s(nrìêiéíi(ji(ñmìruîìlìi(l(nirusjnsv(rñmuiknsv(piêinsgrvrJ(
QîsP(vr⁄rpjès(ji(svñiprhsu(vmëi(mjhurpshs(s(l(lñshnsv(piêinsgrvrP(éhm(r(jpñjès(
nsìi(jîlêrìJ(Sn(ji(ìruîìr(èrkr(ji(ñshrnìiv(sprërur(snhipijmurnìiP(prjñshsurnìi(m(
vmolínmjhsvrP(mèmînmjhsvr(kr(ji(niéhm(lêsns{(rñprum(nièm(l(ñpumv(îsgl(ëiîs(
kr(nr(vmëi(îs(mn(kr(supés(nièl(prknìlP(sîs(ñmk(èmìsv(mèmînmjhsvr(éhr(kr(êsnsJ(
Vrèui(lñshni(piêinsgi(róhiurìl(mkomump(l(svñiprhsul(¨rñmuikni(piêinsgi{)o9>)
b=9:ØCEAR)@kk@C)A)R±:eQ@Cu)S)Æ>A)HA)GAH9P)=A)FQFP)R:E9;FPuæ)8@QØ;A==AP)A)JA­
EAPu)S)^A)C9)HA)FH=@X@P)RF=

üSWV`QRVUcWS(S(`YYWUTQôQ(VU^Q'YZ)[Z)YT\]'('YZ)^T)[Z)YT\]
îinhs(vr⁄rpjèsó(ñpsvipr(jhplèhlpnm(skinhsêns(ñpsvipsvr(hsñr(a(ôsîèi(UusíJ(Ykshr(
Qnkpsí(ìi(svñiprhsu(l(ñshrnìsvr(uirîr(r(omumpnsèr(s(nìiomul(ksîivl(l(uis(jr(
jmñjhuinsv(ñmjhlñgsvrJ(Wivr(ñpiñpièi(kr(ji(murèur(ksîivr(ñmìrus(s(l(uis(jr(
ñmjhlñgsvr(nièsó(kplosó(îsgr{)o9>)b=9:ØCEF:Sb=9:ØCEA)HA)
GAH9SGAH9PF)=A)FQFP)R:E9;FPuæ)8@QØ;A==ASC@QØ;A==SJAEu)S)^A)C9)
HA)FH=@X@SFH=@X@PF)RF=)
b=9:ØCEØC)@kk@C)A)R±:eQ@Cu)[@HH)A)>Ø=RØHfAs)S)Æ>A)HA)GAH9W)=A)FQFP)R:E9;FPu)a>AQ9)
E@)AW:Cl)JF;e)@CP@:E(Õ(UGA:9P)>9)HA)FH@Wæ(oF=>)R@CCl)JF;e)@CP@:E(Õ(aAH)>G@fA)HA)
FH@Wæ(YDB@=)GØl)JF;e)@CP@:E@:(Õ(¥)=>A:E@P):@R9l)JF;e)@CAC

äã
^}=>ÖC(:>(FC(O;Ez@(>AC=Ç>É>?;B@Ç>(FCO@=Ç>}?@(B=>~C(
.ñ¥P(ñps(êivl(jsvwmîmv(Yñ(mnrêrur(ièjñièhrhsunmjh(8(jsnhrèjsêès(piîiurnhnl(
snòmpvrgsìl(èmìr(ìi(svñîsgsprnr(lñprunsv(oîromîsvr(êsìi(nrêinìi(lèrlìi(nr(hm(
kr(ji(pirîsmurnìi(prknìi(mnrêini(ñpiksèrhmv(rusjni(piêinsgi(hiè(mêièlìiJ
Urèm(ìi(ñmjhmìrnìi(mui(èîìlêni(piês¥P(mknmjnm(ìiksnsgi(YñP(ljhrnmuîìinm(r(
mni(jshlrgsìi(l(èmìsvr(ji(svñiprhsu(¨l(vr⁄rpjèmvP(mknmjnm(nivmwsîns(ñpiinh(
¨l(jpñjèmv(ñmìruîìlìi(l(mkpi⁄ini(jivrnhsêèi(èîrji(ñpuinjhuinm(vmkrînsó(oîrL
omîr(s(kplosó(piês(j(vmkrînsv(nrêinìivP(vmëivm(ñpihñmjhrushs(kr(ji(murì(mwîsèP(
mknmjnm(èmnjhplègsìrP(vmol(ñmìrushs(s(wi(ièjñîsgsprnsó(lñprunsó(vmkrînsó(ñmL
èrrhiîìrJ(\(îshiprhlps(ìi(mur(vmolínmjh(uií(ñmhup⁄inrJ
ôJ( Uusí( ìiP( nr( ñpsvipP( l( prkl( mk( èmìio( jvm( mumv( ñpsîsèmv( ñméîsP( nruiîr( s(
vmolínmjh(rvini(giîi(jsnhrèjsêèi(èmnjhplègsìi(HA)¡(ñpiinh(mwîsèmv(snûnshsur)
¨çAW>F)ûA>9u)1)çAW>F)HA)=@)û9uÜ)Æ>A):A)>F)G@û9u)1)Æ>A):A)>F)HA)=@)RA@uJ(Snr(
ji(s(prnsìi(wrusîr(hivmv(uirnmv(jr(mumv(s(l(prkl(OGFfC@PA>9RA)=GB=RFJGQA>­
=RF;)9:{:9>9QA(¨KIâHP(kihrîìnm(ñpsèrlìlís(jumìjhur(piêinsgr(l(èmìsvr(ji(snûnshsu(
ñmìruîìlìi(l(ñmsgsìs(nirusjnmo(ñpiksèrhrP(prvrhprîr(s(snûnshsu(l(ñshrnìsvrJ(Vmv(
ñpsîsèmv(èmnjhrhmurîr(ìi(kr(ìi(sjñpik(snûnshsur(pikmunm(vmolíi(ñmjhrushs(wiL
îsêns(ñpiksèrh(>G@fA{(HA)C9)9)BG@)9C9)BF=C@)E@CA)ß)HA)C9)>G@fA)9)BG@)9C9)
BF=C@)E@CA¥(¨jhpJ(KKä(s(R9b9)=GB=RFJGQA>=RF;)E@k9RA)kA)
=>GA:b@)¨ôprmusíP(KIIM{(KåçP(Kå§J(Wrumki(ji(ñpsvips(hrèui(lñmhpiwi(l(prîsêsL
hsv(omumpnsv(êsnmusvrP(svi⁄l(mjhrîmo(s(l(ñshrnìsvr{(Æ>A)=AHl)bG:A)HA)GAH9Pu)
OF)X@PA)>G@fA)=AH)HA)GAH9Pu)OF)X@PF)>G@fASPFGAP)HA)9H@PuInJ
Rpihm(Vrnrjsí(¨KIIã{(Kãã8KãIP(ñpsèrlìlís(ñpiinh(l(vmkrînmì(èmnjhplègsìsP(
omumps(m(lñmhpiws(ñpiinhr(j(uinsèmv(HA(s(krìi(rñrërnìr(m(nièsv(jivrnhsêèsv(s(
ñprovrhsêèsv(mèmînmjhsvr(èmìi(kmñléhrìl(sîs(ni(kmñléhrìl(rvinl(j(svñiprhsumvJ(
^mjiwnm(snhipijrnhnmv(jvrhpr(lñmhpiwl(mui(èmnjhplègsìi(l(ñshrnìsvrJ(^shrnìr(èrm(
éhm(jl(^A)BF:@=@P)GA:Ab)9)B9RAQAbu(s(^A:@l)HA)>9)HF†@P)Q@X@GA=u(¨jhpJ(KãäP(
ñpivr(nìiomumv(vséîìinìlP(ìijl(kiîswiprhsunr(ñshrnìr(ìip(ji(lñshns(kiîswiprhsuns(
mwîsè(HA)C9)HA(ñmkprlviurP(srèm(nsìi(l(giîsns(sprëin{(^A)C9)HA)BF:@=@P)GA:Ab)

üSWV`QRVUcWS(S(`YYWUTQôQ(VU^Q'YZ)[Z)YT\]'('YZ)^T)[Z)YT\]
9)B9RAQAbu)s(^A:@l)HA)C9)HA)>9)HF†@P)Q@X@GA=u(ômkrînm(nrêinìi(murèusó(ñshrL
nìr(mwìrénìrur(nr(jîikiís(nrêsn{(*?;(ÖC(ACz>:CB=;(y>Ç@àCP(@(ÖCFÇCP(Ç@?B;(
y>Ç@àC(?;ÖC(;Ç?B@(;AÑ;z;|?N(F>ÇN@~>ÖN(;=;E@(?;(E;B;(8(;=(
ÖC(N(A>zCO>(@(|Ç@(A@(FC(;yÖCz>P(y@(FC(;:àC(F@(0()*#)0((y;?@NÖND>(Ç>OC(A@(;A(àCE@(;}C?NÖC(A@(ON(A>zCON(
P(;=A@(FN(~C(?@;(;BC(¨JJJ(FB;ÖCB?;O¥(¨FÇE;B;A)
>G@fA)HA)GAH9PFuÜ)aAPF)RF;A)HA)9kAf@G@Pu)1)aAPF)RF;A)>G@fA)HA)9kAf@G@PuÜ)
TC9)RARF)HA)E@)G@fACF)HA)BF:@=@P)GA:Ab)9)B9RAQAbuÜ)^A:@)HA)C9)f9)
QFC@FSJFû@WS@C9W)HA)>9)HF†@P)Q@X@GA=u(s(H(s(l(ñshrnìsvr(èmìr(nsjl(kiîswiprhsunr(
omumpnsè(mêièlìi(mk(jromumpnsèr(prpiéinìi(nièi(ksîiviJ
Zìlkvsîr(^mñmusí(¨HMMå{(KMHâ8KMHä(èmnjhplègsìl(HA(¡(ñpiinh(jvrhpr(piL
klèmurnmv(urpsìrnhmv(ièjñîsgshni(ñipòmpvrhsuni(òmpvlîi(j(vmkrînsv(oîromîmv(
¨lñJ(aAQ@>9)HA)HFfGF)GAkP9=C9Wx)1)^A)HFfGF)GAkP9=C9WxJ(Snr(nrumks(s(ñpsL
vip(snhipmorhsuni(piêinsgi(j(mumv(èmnjhplègsìmv(èmìr(ìi(l(hmv(jîlêrìl(nmjsîrg(
kmkrhnmo(sîmèlhsunmo(rjñièhr(nijsolpnmjhs¥(¨lñJ(^A)9H@Pu)1)^A)C9)f9J)PF;CA)HA)
9H@Pu)1)^A)C9)=P@P)HA)9H@PuJ(
^psvip(mumo(hsñr(lñshni(piêinsgi(krìi(s(^pikpro(^sñip(¨HMMå{(ãâ§(nrumkiís(
èmnjhplègsìl(HA(¡(ñpiinh(èrm(ìiknl(mk(vmolínmjhs(r(sprërurnìi(vsnsvrînsó(sL
wmpnsó(ñshrnìrP(ñps(êivlP(jvrhprP(mur(èmnjhplègsìr(svr(lñshnmLkmñljnm(nrêinìiP(
nñpJ(^A)X9>APu)^A)X9>Aus
Rpñjèi( èmnjhplègsìi( j( svñîsgshnsv( vmkrînsv( oîromîsvr( s( nìsómus( vr⁄rpjès(
ièusurîinhs( uií( jl( jroîikrurns( l( ìiknmv( prkl( èmnhprjhsunmo( hsñr( ¨lñJ( õuièsíL
XlérnmusíP(HMMâ{(KäMP(KäK(s(lhup⁄inm(ìi(kr(ji(èrm(ièusurîinh(jrvmjhrînm(lñmhpiL
wîìini( èmnjhplègsìi( HA( ¡( ñpiinh( l( rñmuiknsv( piêinsgrvr( l( vr⁄rpjèmv( ñm(
ñprusîl(ñmìruîìlìi(svñiprhsuJ
Susv(ìi(uií(mwìrénìinr(s(vmolínmjh(ñmìruîìsurnìr(èmnjhplègsìi(R@CC(¡(snûnshsu(
l(vr⁄rpjèsv(ñpiumksvr(piêinsgr(hsñr(aJ(Snr(rñprum(ñpinmjs(pièmnjhplsjrns(jpñL
jès(vmkrîns(oîromî(>G@fA>9P(r(snûnshsu(mkomurpr(jpñjèmì(èmnjhplègsìs(HA(¡(ñpiinhJ(
õr(skinhsûèmurnìi(roinjr(jîlës(nrjhrurè(r(îsgi(nr(snûnshsul(èmìs(smjhrìi(lèmîsèm(
roinj(nsìi(skinhsûèmurnJ
Rui(éhm(ìi(km(jrkr(piêinm(lñlílìi(nr(hm(kr(jpñjèi(lñshni(piêinsgi(hsñr(a(èmìi(
jl(nr(vr⁄rpjès(ñpiuikini(svñiprhsumv£èmnjhplègsìmv(R@CC(¡(snûnshsu(svrìl(niL
äâ

^F)RAkAFu)1)pYF)HA)û@)>F)RAkA>9uJ(õr(prîsèl(mk(nìsóP(
l(lñshnsv(piêinsgrvr(hsñr(Q(mur(vmolínmjh(ñmjhmìs(¨lñJ(YF)>F)RA@u)1)YF)E@)>F)
RAkAFu)1)YF)û@)>F)RAkA>9uJ
åJ(Urèm(jpñjèmv(uinsèl(HA(l(vr⁄rpjèmv(êijhm(mkomurpr(uinsè(JF;eP(ñpuinL
jhuinm(èrm(uinsè(èmìs(lumks(rusjni(piêinsgi(kmñlnjèmo(hsñrP(ñmèrrîm(ji(kr(hm(
nsìi(jîlêrì(l(musv(hsñmusvr(piêinsgrJ(WrsviP(uinsè(JF;e(ñmìrusm(ji(jrvm(l(kur(
ñpsviprP(ñps(êivl(ìi(mn(l(ìiknmv(ñpsvipl(mjhurpin(l(oîromî(R@CC))>G@fA>9(l(
èmìs(ìi(pirîsmurn(svñiprhsu(¨>)R@CCl)JF;e)Hb=DGEDRu(éhm(ñmèrlìi(kr(ji(l(murì(
vmkrîns(oîromî(vmëi(ñmìrushs(s(rusjnr(piêinsgr(j(ñpiksèrhmv(l(svñiprhsul(¨lñJ(
arîmoó(ih(rî{(HMMM{(KMâP(§äãJ(Rivrnhsèr(mui(piêinsgi(skinhsênr(ìi(mnmì(l(èmìmì(
ji(l(oîromî(R@CC(mjhurplìi(snûnshsuJ
\(kplomv(ñpsvipl(j(uinsèmv(JF;e(snòmpvrhmps(jl(lñmhpiwsîs(èmnksgsmnrîP(mkL
nmjnm(ñpiinhJ(`iê(ìi(m(ñpiumkl(jpñjèmo(ñshrnìr{(äA)HA)=P@>AP)>@f9u(L(tF;e)D:)
>D;@H)kAQAG:ØCARu)S)oD;)JF;e)D:)kAQAGCARu(U(òmpvrîni(èrprèhipsjhsèi(vr⁄rpjèsó(piL
êinsgrP(rîs(s(ìisêèm(mjiírnìi(omumpnsèr(jpñjèmo(ìisèrP(lñlílìl(nr(hm(kr(ìi(jivrnhsL
èr(mumo(ñshrnìr(kplorêsìrJ(U(mur(lñshnr(piêinsgr(svr(vmkrînm(nrêinìiP(rîs(prîsêshm(
l(mknmjl(nr(ñpihómkniJ(Sumv(lñshnmv(piêinsgmv(omumpnsè(pirolìi(nr(kmwsìinl(snL
òmpvrgsìl(s(nroîrérur(jumìi(nijîrornìi(j(nìmvP(sprërur(niuipsgl(l(nìinl(sjhsnshmjhJ(
\(nìmì(ji(vmëi(pièmnjhplsjrhs(hs(èrëié£hupksé¥(Õ(hi(rh(vmnkmk£ÏîîÎhmk¥P(ìisêès(
ñmèrrhiîì(huJ(svñipgiñhsuni(vmkrînmjhs(¨lñJ(^sñip(HMMå{(ã§å(èmìr(ni(vmpr(wshs(
òlhlpjès(mpsìinhsjrnr(s(ni(róhiur(nivmwsîns(ñpiinh(¨lñJ(äA)HA)=AP)=P@>ACA)>@f9uJ
ãJ(^mîriís(mk(kur(hsñr(jpñjèsó(lñshnsó(piêinsgrP(ìiknmo(èmìio(èrprèhipséi(mkL
jljhum(piês(HA(s(l(èmìiv(ìi(jshlrgsìr(nr(èmìl(ji(ñshrnìi(mknmjs(ñmjhmìiís(òrèrh(s(
mnmo(l(èmìiv(ìi(mur(piê(ñpsjlhnrP(r(jshlrgsìr(nr(èmìl(ji(ñshrnìi(mknmjs(nsìi(ñmL
jhmìiís(òrèrhP(s(rnrîsmv(nìsómusó(ñpiumknsó(ièusurîinrhr(l(vr⁄rpjèmv(ìisèlP(
kmîrsvm(km(jîikiísó(rèîìlêrèr{(K(ôr⁄rpjèi(lñshni(piêinsgi(èmìi(ji(ìruîìrìl(
èrm(ièusurîinhs(ñpumo(hsñr(jpñjèsó(lñshnsó(piêinsgr(ñmèrlìl(ni(jrvm(jivrnhsêèl(
uií(s(òmpvrînl(ñmklkrpnmjh(8(ìruîìr(ji(snksèrhsu(ñpiinhræ(H(^piumks(kplomo(hsñr(
jpñjèsó( lñshnsó( piêinsgr( jivrnhsêès( jl( ièusurîinhnsP( rîs( ji( òmpvrînm( prîsèlìlæ(
ç(\(vr⁄rpjèmv(ji(ìruîìr(svñiprhsu(sîs(èmnjhplègsìr(R@CC(¡(snûnshsu(lèmîsèm(ìi(l(
jpñjèmv(lñmhpiwîìin(nivmwsîns(ñpiinhæ(§(\ñshni(piêinsgi(kplomor(hsñr(svrìl(
vmkrînl(jivrnhsèl(s(ñmèrlìl(vmolínmjh(pièmnjhplègsìi(vmkrînmo(iîivinhrJ
,1)-3*)43*
QnkpsíP(Ykshr(¨HMMHJ(8@R=9RFCF;9EA)9)PFGiFCF;9EA)PA†AG=RF;)E@k9RAJ(Wmus(Rrk{(bsîmmòjès(
òrèlîhih(l(Wmumv(RrklP(Skjiè(r(ólnorpmîmosìlJ
ää

üSWV`QRVUcWS(S(`YYWUTQôQ(VU^Q'YZ)[Z)YT\]'('YZ)^T)[Z)YT\]
QnkpsíP(Ykshr(¨HMMäJ(a>GA;P9)9)G@X@:9bA)DP(->z?@(¨KIâMJ('(Ny;Ç(Ez@E;zF?>Ñ(BF=;Ö(~>{(y(F(BC=>?;O(¥A@øJ(í5"'#/)(.#î%)-"7-/%)2()ª#*5*5+#64)#)*#'+,#-.#/4(
¢UUU£KJ(0;B>(3@A{(§ç8å§J
,B>DP( ->z?@( ¨KIâHJ( +?@( F=>Ç>B@J( í5"'#/) 2()
ª#*5*5+#64)#)*#'+,#-.#/4(¨0;B>(3@AP(¢c£HP(KKå8KçäJ
ôprmusíP(^rusgrP(õmpr(clèrksnmusí(¨KIIMJ(jGAPA>9RA)=GB=RFJGQA>=RF;)E@k9RA)kA)
=>GA:b@J((Rpivjès(ürpîmugs{(Ukrurêèr(ènìsërpnsgr(õmprnr(Rhmìrnmusíræ(Wmus(Rrk{(
Xmwpr(uijhJ
UusíP(ôsîèr(¨HMMMJ(89:;Q9=>9XR9)F;C@H9l)>G9J(aimoprk{(aswîsmhièr(¢¢(uièJ
+>yC?(3*0#P(
5C;EE@æ(0;B>(3@A{(-@Ç>~@(FDP(ÄNAO>z@(¨HMMåJ(ë5$4'#/(.#,'%)ª4'/î#6%)7"5-.%)"%N%'#î%(N{(+>yC?(3*0#P(5C;L
EE@æ(0;B>(3@A{(-@Ç>~@(FDP(Ø>B;Ö>=æ(+;y;B>DP(ÄN:;O>(=@FÇ@B=@(FDP(3yC?(3*0#P(5C;EE@æ(0;B>(3@A{(
-@Ç>~@(F

^?(>(z>=EB>FÇ>?NJ(Kâå8KääJ
:FG7HI7#C>=I;?.:FG7HD>;?
TSWV`QRVUcYZ†(SW(RYWVYWTYR(
Sb(YZ)[Z)YT\](QWX(YZ)^T)[Z)YT\]))V†^Y
aG@fA>9(rnk(rn(snûnshsui(gmvñîivinhJ((Uh(sj(ñmsnhik(
mlh(hórh(hói(gmnìlghsmn(HA)sj(hóin(rn(snhioprî(ñrph(mò(Ripwsrn(svvmwsîi(ñpijinh(òmpv(rnk(
hórh(hói(snhippmorhsui(jinhingij(jhplghlpik(sn(jlgó(r(vrnnip((órui(hói(jivrnhsg(urîli(mò(
iñihrngï(rnk(r(vmkrî(virnsnoJ(Unhippmorhsui(jinhingij(sn(ósgó(HA)kmij(nmh(gmnnigh(
shó(svvmwsîi(ñpijinh(òmpv(órui(r(ksòòipinh(hïñi(mò(vmkrî(virnsno(ósgó(sj(jómn(sn(
hói(irvñîi(shó(svñipgiñhsui(vmkrîshïJ(
Y@e) gFGH={) gmnhprjhsui( rnrîïjsjP( RipwsrnP( dlnorpsrnP( jïnhrP( jivrnhsgjP( snhippmorhsui(
jinhingijP(gmonshsui(mpkjP(vmkrîshïJ
Xlérnèr(õuièsíLXlérnmusí
\nsuipshih((l(Wmumv(RrklP(Rpwsìr
bsîmmòjès(òrèlîhih
CLvrsî{(kljrÀnimwiiJnih
IM

K7H=B7#6=G;?
.1-'[-3`,-1Yb/a*3)1{-,'WIE'4X.'1b3-'
£?41[*,-X)-'10'+Z/X1/Yb-X
Xip([ioinjhrnk(ksijij(aishproj(sjh(ksi(Qnrîïji(kij(Ziivj(g9@(rîj(cipoîisgójñrphsèiî(sv(
Xilhjgóin(lnk(jisnip(Ynhjñpigólnoin(sv(amjnsjgóinJ(Wie(rîj(cipoîisgójñrphsèiî(èrnn(
^óprjin(isnîishinP(ksi(jsgó(inhikip(rlò(isn(QkìièhsuP(Rlwjhrnhsu(mkip(^pmnmvin(wisióin(
mkip(urîinòpisi(mkip(urîinoiwlnkini(Qkuipwsrîwijhsvvlnoin(krpjhiîîinJ(Xsiji(^óprL
jin(è“nnin(kivnrgó(Qhhpswlhi)ma9@)9=>)=F)=bJ±:)wie)9bJsnP(Qññmjshsmnin(¨Ä@)@=)>FbJ@:@G)A)P9G)g9@)@>gA=)j@C@JG>@=)QFGs(krpjhiîîinJ(Un(rîîin(ksijin(
blnèhsmnin(órh(g9@)ksi(QlòorwiP(ihrj(l(uipoîisgóinJ(Un(rîîin(usip(cipinklnojisjin(
èrnn(ij(vsh(RAF)Ãwipjihh(ipkinJ(Xsijij(RAF(sjh(si(ksi(kilhjgói(cipoîisgójñrphsèiî(g9@(
ln¿ièhsipwrpJ(Yj(órh(iwinòrîîj(ksi(QlòorwiP(ihrj(l(uipoîisgóin(lnk(ij(uipwsnkih(rn(kip(
Swip¿œgói(nsgóh(nlp(oîisgóprnosoi(lnk(òlnèhsmnjoîisgói(YîivinhiJ(Yj(wijshh(rîjm(ksi(
umn( Ynoiî( ¨HMM§( rnoiòÃóphin( Ysoinjgóròhin( isnip(cipoîisgójñrphsèiîJ( Xróip( jgóîroin(
sp(ksi(YsnòÃóplno(ksijip(©mphrph(sn(ksi(wmjnsjgói([prvvrhsè(umpJ((
abJCè==@Cg±G>@GÇ'cipoîisgójñrphsèiîP(g9@P(RAFJ
lO'-1X,-1)4X`
lOlO'§@E'+AxKJvv'Vergleichspartikel
Un(kip(nilipin(kilhjgóin([prvvrhsè(sjh(kip(aiopsòò(V@G;C@9bJ=BAG>9R@C(¨uoîJ(
YnoiîP(drónivrnn)rlòoihrlgóhJ(cmn(Ynoiî(¨HMM§{§§K(ipkin(kin(cipoîisgójñL
rphsèiîn(òmîoinki(Ysoinjgóròhin(loijgópsiwin{
( lnuipœnkipîsgói(©“phipP
( uipwsnkin(uipoîisgóink(aiisgónlnoin(òÃp([p“—in(mkip(Ysoinjgóròhin(
¨jiîhin([ijgóiónsjji(vshisnrnkipP
( uipwsnkin(rn(kip(Swip¿œgói(nsgóh(nlp(oîisgóprnosoi(lnk(òlnèhsmnjoîisL
gói(YîivinhiJ(
IK

aA:@CA)o@W9û
õl(kin(cipoîisgójñrphsèiîn(œóîin(nrgó(Ynoiî{(AC=l)g9@(lnk(uiprîhih)H@::s(Qîîi(
ksiji(Ziivi(ksinin(sn(wijhsvvhin(ümnhihin(lv(cipoîisgóinJ(
Xsi( ©mphrph( vsh( kin( mwin( oinrnnhin( Ysoinjgóròhin( spk( umn( diîwso£aljgór(
¨HMMK{çåç( rîj( Qkìlnèhsmn 1 ( wiisgónihJ( Qîj( Qkìlnèhi( oiwin( diîwso£aljgór(
¨HMMK{§K㣧Kâ(ksi(Ziivi(AC=(lnk(g9@(rnJ(Xsi(Qkìlnèhsmnin(isjin(nrgó(diîL
wso£aljgór(¨HMMK{çåç(òmîoinki(Ysoinjgóròhin(rlò{
( îrjjin(jsgó(ikip(kin(^pœñmjshsmnin(nmgó(kin(ümnìlnèhsmnin(mkip(kin(
Rlwìlnèhsmnin(lmpkninP
( jhióin(snnipórîw(isnij(RrhoîsikijP
( órwin(rwip(èisni(ürjljòmpkiplnoP
( kip(ürjlj(kij(òmîoinkin(Rlwjhrnhsuj(sjh(kihipvsnsiphP(rj(nsgóh(klpgó(ksi(
`ièhsmn(jmnkipn(klpgó(ksi(ümnoplin(kij(ailojmphij(oijgósióhJ(Qlj(
ksijiv([plnki(hpihin(lnhipjgósikîsgói(ürjlj(si(sn(kin(aisjñsiîin(rlò{
¨K(
¨H((
(WmvJ{(( (JJJP(lnk(mòh(rp(ksi(disvèióp(snj(diîîi(8(jm(nmhinkso(lnk(jm(
olh(jsi(jisn(vmgóhi(8(òrjh'g9@'isni(`Ãgèèióp(snj(insoip(Rgó“niP(snj(
Zrnoisîsoipi(lnk(flkipiJ(¨dijji{Kç
(QèèJ{(( Wie(ìikin(ôinjgóinP(jm(ûiî(rlgó(vsgó(krj(îrnojrv(iprgóinki(
[iòÃóî(kij([ijgóîigóhj(rîj(isn(bisnk(lnk(õipjh“pip(rnP(rîj(cipwmhinijP(
rîj(cipòÃóplno(lnk(RÃnkiJ(¨dijji{åH
¨ç(( (XrhJ{(( Yp(osno(sn(isni(ó“óipi(üîrjji(rîj(sgó(lnk(rp(viópipi(erópi(œîhipP(
rwip(rlgó(vsp(ûiî(ip(wrîk(rlòP'g9@'rîîinJ(¨dijji{çK
Un(kip(oioinœphsoin(wmjnsjgóin([prvvrhsè(oswh(ij(èisni(\nhipoplññin(umn(
^rphsèiînJ(©sp(jgóîroin(ìikmgó(ksi(YsnòÃóplno(kij(Vipvsnlj(cipoîisgójñrphsèiî(
rlgó(sv(amjnsjgóin(umpJ(Xsi(umn(Ynoiî(rnoiòÃóphin(ôipèvrîi(wijshh(rlgó(vsnL
kijhinj(isn(wmjnsjgóij(ZiivJ(
lOmO'.JA'[AKxBAJqtDzoKGJ}AB'wie
cipoîisgójèmnjhplèhsmnin(vsh(kip(cipoîisgójñrphsèiî(g9@)èrnn(vrn(nrgó(YnL
oiî(¨HMM§{§§H(oi“ónîsgó(rlò(RrhoiòÃoi(lpÃgèòÃópinJ(Xijioin(èrnn(vrn(
nrgó(Ynoiî(¨HMM§{§§H(ksi(cipoîisgójñrphsèiîn(nsgóh(l(kin(ümnìlnèhmpin(pigóL
ninJ(Rsi(uipwsnkin(YîivinhiP(ksi(ikip(oîisgóprnoso(nmgó(òlnèhsmnjoîisgó(jsnkJ(
¨§(
(Xsi(brîhip(ñ¿rnin(jsgó(oiprki(jm(òmph'g9@'rîîi(VsipiP(kip(ôrnn(wiòplgóL
hih(krj(©iswgóinP(krj(krnn(Ysip(îiohJ(¨dijji{åI
K(
Un( kip( Qljorwi( umn( KII§( órwin( diîwso£aljgór( AC=) lnk( g9@) rîj( ^pœñmjshsmnin( móni( ürjlj(
IH
wiisgónihJ

XUY(cY`[ZYUTdR^Q`VUüYZ(_`](\WX(Ud`Y(ß]\UcQZYWVY(Uô(aSRWURTdYW
¨å(
¨§f(
¨åf(
(ôrn(èrnn(rwip(nsgóhj(©ijinhîsgóij(rwwshhinP(lnk(krj(òÃóîh(lnk(is—(isn(
üsnk(jm(olh(lnk(hsiò'g9@'ìikip(©isjiJ(¨dijji{Hç(
(Xsi(brîhip(ñ¿rnin(jsgó(oiprki(jm(òmphP(g9@)rîîi(Vsipi(jsgó(òmphñ¿rninP(
kip(ôrnn(wiòplgóhih(krj(©iswgóinP(krj(krnn(Ysip(îiohJ
ôrn(èrnn(rwip(nsgóhj(©ijinhîsgóij(rwwshhinP(lnk(krj(òÃóîh(lnk(is—(isn(
üsnk(jm(olh(lnk(hsiòP(g9@)ìikip(©isji(ij(is—J
©sp( jióin( rn( kin( mwin( oinrnnhin( aisjñsiîinP( krjj( isn( jïnhrèhsjgóip( \nhipL
jgósik(sjgóin(g9@)ACC@)[9@G@(lnk(g9@)E@H@G)_@9=@(wijhióhJ(Uv(ipjhin(aisjñsiî(sjh(
èisn(Qkìièhsu(umpórnkinJ(Xsi(ipjhi(g9@L^óprji(sjh(isni(QkuipwsrîwijhsvvlnoJ(Ysni(
klpgó(g9@(isnoiîishihi(Qkuipwsrîwijhsvvlno(èrnn(inhikip(urîinoiwlnkin(mkip(
urîinòpis(jisnJ(Uv(ishin(aisjñsiî(wisióh(jsgó((ksi(g9@L^óprji(rlò((is(QkL
ìièhsuiP(nœvîsgó(rlò);)9@is(©sp(lnhipjgóiskin(króip(ishipósn(sjgóin(kip(
cipoîisgójñrphsèiî(g9@P(ksi(jsgó(rlò(isn(Qkìièhsu(wisióh(lnk(kip(cipoîisgójñrphsèiî(
g9@P(ksi(isni(Qkuipwsrîwijhsvvlno(isnîishihJ((õl(kiv(èmvvh(nmgó(ksi(cipoîisgójñL
rphsèiî(g9@P(ksi(jsgó(rlò(isn(Wmvin(mkip(isn(^pmnmvin(wisióhJ(
¨ã(
JJJ{(inn(ksi(©iîh(Zilhi'g9@'vsgó(nsgóh(wprlgóin(èmnnhiP(inn(jsi(òÃp(jsi(
èisnin(wijjipn(^îrhP(èisni(ó“óipn(Qlòorwin(órhhiP(nlnP(jm(osnoin(Zilhi'
g9@'sgó(iwin(èrñlhhJ(¨dijji{äK
Xsijij(g9@(spk(umn(dpljhsí(¨HMMå{KKä((rîj(Qññmjshsuñrphsèiî(wiisgónihJ(Qlgó(
isni(jmîgói(cipoîisgójèmnjhplèhsmn(îœjjh(jsgó(rlò(isn(RrhoiòÃoi(lpÃgèòÃópinJ(
¨ãf(
(JJJ{(inn(ksi(©iîh(ZilhiP(g9@(sgó(ij(wsnP(nsgóh(wprlgóin(èmnnhiP(inn(jsi(
òÃp(jsi(èisnin(wijjipn(^îrhP(èisni(ó“óipn(Qlòorwin(órhhiP(nlnP(jm(osnoin(
ZilhiP(g9@)sgó(ij(wsnP(iwin(èrñlhhJ(
Xsi(aiisgónlno(kij(jm(oiwprlgóhin(Ziivj(g9@)rîj(Qññmjshsuñrphsèiî(ÃpL
ki(is(ishipi(aiisgónlnoin(òÃp(krj(Ziiv(g9@)(sn(kin(aisjñsiîin(§(lnk(å(
nrgó(jsgó(sióinJ(Xip(aiopsòò(TBBF=9>9QBAG>9R@C(sjh(rlò([plnk(kip(jïnhrèhsjgóin(
blnèhsmn(kip(g9@L^óprji(inhjhrnkinJ(Un(rîîin(kpis(aisjñsiîin(¨§Lã(ipkin(aiL
isgónlnoin(òÃp([p“—in(lnk(Ysoinjgóròhin(uipoîisgóink(vshisnrnkip(uipwlnkinP(
jm(krjj(kip(Vipvsnlj(V@G;C@9bJ=BAG>9R@C(òÃp(rîîi(kpis([iwprlgójisjin(rîj(ñrjL
jink(ipjgóisnhJ(Qlj(kip(aiisgónlno(THE9F:(umn(diîwso£aljgór(¨HMMK(oióh(
óipumpP(krjj(ihrj(uipwlnkin(spkP(rwip(ìikmgó(nsgóhP(krjj(ihrj(uipoîisgóink(
vshisnrnkip(uipwlnkin(spkJ(
Iç

aA:@CA)o@W9û
mO'.1-'[-3`,-1Yb/a*3)1{-,'WIE 01)'-1X-0'+-§4`/~Z3)
mOlO'0JG'+A|@x'o@v'AJp'*HôA}GJn'y|MO'*HnAKy
ais(drónivrnn(¨KIII{HH(sjh(sn(ksijiv(brîî(umn([prkuipoîisgóin(ksi(`ikiJ(
bÃp(jsi(sjh(krj(kip(ñpmhmhïñsjgói(cipoîisgó(jgóîigóhósnJ(
¨â(
(JJJP(èisn(Xprno(rp(jm(hsiò(lnk(óiòhso(sn(vsp'g9@'kip(©lnjgó(nrgó(YópL
òlpgóh(lnk(Qnwihlno(¨dijji{äç
Xrj(Qkìièhsu(sv(drlñhjrh(èrnn(rhhpswlhsuP(rkuipwsrî(mkip(ñpœksèrhsu(uipinL
kih(ipkinJ(Xip(vsh(g9@(isnoiîishihi(Rrh¨hisî(sjh(sn(rîîin(bœîîin(nlp(ljrvvin(
vsh(jisniv(ümppiîrh(¨Qkìièhsu(¡(=FP(wJ(=F(rîîisn(ljrvvin(ioîr—wrp(mkip(
hmñsèrîsjsipwrp¥(¨drónivrnnP(KIII{HHJ(Qnkipj(rîj(sp(uipjhióh(ksijip(Qlhmp(lnL
hip(kip(cipoîisgójñrphsèiî(rlgó(krj(jrhisnîishinki(g9@(nrgó(=F)¡(Qkìièhsu(mkip(
nrgó(=F(rîîisnJ(ais(isniv(jrhisnîishinkin(g9@(nrgó(=F(lnk(¨=F(¡(Qkìièhsu(si(sn(
kin(aisjñsiîin(ä(lnk(I(órnkiîh(ij(jsgó(lnjipip(ôisnlno(nrgó(lv(isni(jlwmpksnsiL
pinki(ümnìlnèhsmnP(ksi(lv(Ysnîishin(kip(pirîin(ümvñrprhsujœhi(kip([îisgóóish(
ksinhJ
¨ä( \nk(sgó(ipki(ij(nsi(jm(vrgóinP'g9@'üpmvip(ij(vrgóhP(krj(oîrlwjh(kl(
( vspJ(¨dijji{§å
¨I( (Xsijip(rwip(jhrnk(rlòP(nróv(isnin(órphinP(plnkin(dlhP(kip(rlò(bpœlîisn(
aÃpjhnipj(aihh(îroP(lnk(jihhi(jsgó(són(umpjsgóhso(vsh(wiskin(dœnkin(rlòP(
g9@(vrn(ij(wis(kip(Qnñpmwi(nilip(dÃhi(hlhJ(¨üròèr{KJH
cmp(kiv(Qkìièhsu(èrnn(@f@:=Fl);@:A

XUY(cY`[ZYUTdR^Q`VUüYZ(_`](\WX(Ud`Y(ß]\UcQZYWVY(Uô(aSRWURTdYW
sjh( ksi( aiisgónlno( rîj( ^pœñmjshsmn( nsgóh( rèiñhrwiîJ( Un( kip( nilipin(Qljorwi(
sópip([prvvrhsè(wiisgónin(diîwso£aljgór(¨HMMK{§Kâ(isn(jm(oiwprlgóhij(g9@(
rîj(vmkrîi(QkìlnèhsmnJ(Xrj(g9@(sn(œónîsgóin(aisjñsiîin(wiisgónin(ksi(QlhmL
pin(kip(X\XYWL[prvvrhsè(¨HMMå{ãçH(rîj(RrhhisîèmnìlnèhsmnJ(Wrgó(Ysjinwipo(
¨KII§{çHI(sjh(isn(jm(oiwprlgóhij(g9@(isni(èmmpksnsipinki(ümnìlnèhsmnJ(Xsijip(
aiisgónlno( skipjñpsgóh( ksi(VrhjrgóiP( krjj( g9@( sn( kin( oinrnnhin( aisjñsiîin(
èisni(oîisgóprnosoin(Yîivinhi(isnîishihJ(Yj(sjh(rîjm(ikip(ksi(aiisgónlno(aA>k­
>@9CRF:E9F:(nmgó(ksi(aiisgónlno(RFFGH9:9@G@:H@)YF:E9F:(rèiñhrwiîJ
Qîj(ßúlusrîinhi(kij(Ziivj(g9@)oiîhin(nrgó(drnjinLümèmplé(ih(rîJ(¨HMMå{KIâç(
RAF(lnk))RFC9RFs
¨KK( Rsi(sjh(¨iwinjm(óÃwjgó(g9@(sópi(RgóijhipJ
( Snr(ìi(¨sjhm(hrèm(omknr(RAF)9(nìisnr(jijhprJ(¨drnjinLümèmplé(ih(rîJP(
(( HMMå{KIâç
KH( Xip(Rgóprnè(sjh(jm(wpish(g9@(ómgóJ
( Spvrp(ìi(éspmè(RFC9RF(i(usjmèJ(¨drnjinLümèmplé(ih(rîJP(HMMå{KIâç
Uv(ümpñlj(lpkin(òmîoinki(Òwipjihlnojv“oîsgóèishin(wiîioh{(RAF)m9næ(RAF)
HAæ(Øæ(FHæ(RAF)W>Fæ(RARAQl)RARQAl)RARQFÜ(BFBæ(RFC9RFæ(W>FJ(Qîj(igóhi(ßúlsurîinhi(
sv( amjnsjgóin( wihprgóhin( sp( RAFP( FH) lnk( BFBJ( ôisjhinj( spk( rîj( ÒwipjihL
lnojœúlsurîinh( umn( g9@) RAF( uipinkih( lnk( ksijij( Ziiv( îœjjh( jsgó( rlgó( sv(
amjnsjgóin(kip(©mphrph(kip(cipoîisgójñrphsèiîn(lmpkninJ(Yj(wijshh(ksi(umn(YnL
oiî(¨HMM§(rnoiòÃóphin(Ysoinjgóròhin(kip(cipoîisgójñrphsèiînJ
ZH(¨uoîJ(`YWUü(ôR£ôdP(arnk(§P(KIâK{KH(lnk)BFB(¨uoîJ(`YWUü(ôR£ôdP(
arnk(§P(KIâK{âKI(jsnk(nsgóh(¿ièhsipwrpP(rwip(jsi(wijshin(isni(YsoinjgóròhP(ksi(
ij(nsgóh(lîœjjhP(jsi(ikip(kin(ümnìlnèhsmnin(nmgó(kin(^rphsèiîn(llmpkninJ(
Rsi(piosipin(nœvîsgó(isnin(wijhsvvhin(ürjljP(lnk(rp(kin([inshsuJ(Xr(jsi(nsgóh(
¿ièhsipwrp(jsnk(lnk(isnin(wijhsvvhin(ürjlj(uipîrnoinP(ipkin(jsi(rîj(^pœñmjshsL
mnin(wiisgónihJ(Un(lnjipiv(aisjñsiî(sjh(BFB)vsh(RAF)rljhrljgówrpP(FH(ìikmgó(
nsgóhJ(Qlò(RAF(òmîoh(krnn(nsgóh(kip([inshsu(¨jsiói(aisjñsiî(KåfJ(Xip(ürjlj(sjh(
klpgó(krj(ailojmph(kihipvsnsiphJ
¨Kç( Qîîisn(kip(dipk(rp(kpisvrî(jm(opm—(g9@(oi“ónîsgói(dipkiP(JJJ((
( ¨üròèr{äJK
Rrv(éhiknìrè(wsm(ìi(hpsñlh(uiís(FH(mwsênsó(éhiknìrèrP(º(¨Kåå
¨K§( ôisni([ijgósgóhi(sjh(nsgóh(rnoinióvP(jsi(sjh(nsgóh(j×(lnk(órpvmnsjgó'
g9@'ksi(ipòlnkinin([ijgósgóhinP(º(¨dijji{KM
ômìr(ñpsêr(nsìi(lomknrP(nsìi(jîrhèr(ns(jèîrknr(BFB(svséîìinsó(ñpsêrP(º(¨ã
Iå

aA:@CA)o@W9û
¨K§f(
ômìr(ñpsêr(nsìi(lomknrP(nsìi(jîrhèr(ns(jèîrknr(RAF(svséîìinr(ñpsêrP(JJJ(
YAF)HA(lnk(RAF)W>F(jsnk(móni(©ishipij(kin(jlwmpksnsipinkin(ümnìlnèhsmnin(lL
lmpkninJ(Rsi(îishin(Wiwinjœhi(isnP(ksi(jsgó(sn(isni(RAFL^óprji(hprnjòmpvsipin(
îrjjinJ
¨Kå(
¨Kåf(
¨Kã(
¨Kãf(
üJ(jró(jsi(rljkplgèjîmj(g9@(isni(bpivki(rnP(JJJ(¨üròèr{çJH
üJ(ìi(lkpërnm(ñmoîikr(RAF)HA(vl(ìi(ñmhñlnm(jhprnrP(JJJ(¨åä
üJ(ìi(lkpërnm(ñmoîikr(RAF)jhprnèsnìlP(JJJJ
©inn(Rsi(rlgó(ishipósn(jm(usiî([îÃgè(órwin(g9@(wis(kip(aijhsvvlno(
Uópip(©œgóhipP(krnn(è“nnin(Rsi(luipjsgóhîsgó(jisnJ(¨üròèr{KJK
Qèm(s(krîìi(wlkihi(svrîs(hmîsèm(jpiíi(RAF)W>F(jhi(svrîs(ñpsîsèmv(mkpi⁄surnìr(
urésó(êlurprP(mnkr(ji(vmëihi(nrkrhs(nrìwmîìivJ(¨â
Qèm( s( krîìi( wlkihi( svrîs( hmîsèm( jpiíi( RAF) ñpsîsèmv( mkpi⁄surnìr( urésó(
êlurprP(mnkr(ji(vmëihi(nrkrhs(nrìwmîìivJ
YARAQl)RARQAl)RARQF)jsnk(¿ièhsipwrp(lnk(oió“pin(ikip(l(kin(^rphsèiîn(nmgó(l(
kin(ümnìlnèhsmninP(jmnkipn(l(kin(^pmnmvsnrJ(Qlgó(ósip(sjh(isni(Òwipjihlno(
vsh(RAF)v“oîsgóJ
¨Kâ(
¨Kâf(
Wlp(nmgó(usiîîisgóh(isn(mkip(is(Qkumèrhin(è“nnhin(jsgó(vsh(œónîsgóin(
aisiólnoin(rljisjin(g9@(XpJ(dlîkJ(¨üròèr{âJK
ômëkr(ws(ji(ìmé(jrvm(ìikrn(sîs(kur(rkumèrhr(vmoîs(ñmóurîshs(jîsênsv(uiL
rvr(RARQ@(svr(kp(dlîkJ(¨KKM
ômëkr(ws(ji(ìmé(jrvm(ìikrn(sîs(kur(rkumèrhr(vmoîs(ñmóurîshs(jîsênsv(uiL
rvr(RAF(kp(dlîkJ(
Qlgó(kip(vsh(kiv(Qkuipw(RFC9RF)isnoiîishihi(Wiwinjrh(îœjjh(jsgó(sn(isni(RAFL
^óprji(lvòmpvinJ
¨Kä( ºP(lnk(krnn(rp(visni(Qnojh(èrlv(jm(opm—'g9@'krj(hsiòi(aikrlipn(krpL
ÃwipP(kr—(sgó((krj(nsgóh(umn(Qnòrno(rn(jiîwip(oihrn(órhhiJ(¨dijji{çä£çI
ºP(r(vmì(jhpró(wsm(ìi(ìikur(hmîsèsP(RFC9RF(ìi(wsîm(klwmèm(ërîìinìi(wmo(
hmor(éhm(hm(nsjrv(jrv(lêsnsm(l(ñmêihèlJ(¨§M
¨Käf( JJJP(r(vmì(jhpró(wsm(ìi(ìikur(RAF(klwmèm(ërîìinìi(wmo(hmor(éhm(hm(nsjrv(
( jrv(lêsnsm(l(ñmêihèlJ
Iã

XUY(cY`[ZYUTdR^Q`VUüYZ(_`](\WX(Ud`Y(ß]\UcQZYWVY(Uô(aSRWURTdYW
mOmO'0JG'+A|@x'o@v'AJp'XFEAp'FHAK'AJp'aKFpFEAp
ôrngóvrî(ninnh(ksi(g9@LbÃolno(isni(\nhipvinoi(mkip(isn(Yîivinh(kip(klpgó(krj(
piosipinki(Wmvin(wiisgónihin(ôinoiJ(Un(ksijiv(brîî(sjh(wis(Ynoiî£ôprmusí(
¨KIäã{ãåH((umn(isnip(klpgó(g9@(isnoiîishihin(Qññmjshsmn(ksi(`ikiJ
¨KI(
JJJP(sn(iîgóiv(vrn(ósi(lnk(kr(^ûòòi(jmsi(isniîni(Qljplòi'g9@'^psnL
sñ¥(lnk(aÃpoippigóh¥(lnhipjgósikJJJ(¨ôrnn{Käã
Rmîgói(bÃolnoin(îrjjin(jsgó(rlò(Rœhi(vsh(isnip(Wmvsnrîipoœnlno(lpÃgèòÃóL
pin{
¨KIf(
^psnsñ¥(lnk(aÃpoippigóh¥(rpin(isniîni(QljplòiP(ksi(vrn(lnhipjgósikJ
g9@LbÃolnoin( èmvvin( visjh( vsh( wiîsiwsoiv( Xihipvsnrhsu( umpJ( Rsi( jhsvvin(
vsh(kiv(piosipinkin(Wmvin(visjh(sv(ürjlj(lnk(oioiwininòrîîj(rlgó(sv(WlviL
plj(Ãwipisn¥(¨Ynoiî£ôprmusíP(KIäã{ãåHJ
Wrgó(Yooj(¨HMMã{çåä(èrnn(g9@)sn(vrngóin(aisjñsiîin(nsgóh(oihsîoh(ipkinJ(Yj(
wsîkih(isni(òijhiP(lnhpinnwrpi(Ysnóish(vsh(jisniv(ailojmphJ
Wrgó(drnjinLümèmplé(ih(rîJ(¨HMMå{KIâ§(osîh(RAF)W>F)rîj(ßúlsurîinh{
¨HM( Ynhsgèîlnojîœnkip(g9@(Rmvrîsr
( ivîìi(l(prumìl(RAF)W>F(ìi(Rmvrîsìr(¨drnjinLümèmplé(ih(rîJP(HMMå{KIâ§
Uv(rnrîïjsiphin(ümpñlj(lpkin(rl—ipkiv(aisjñsiîi(vsh(RAF)9(lnk(BFB(oiòlnL
kinP(rwip(rlgó(aisjñsiîiP(sn(kinin(g9@(orp(nsgóh(Ãwipjihh(lpkiJ
(
¨HK( Wlp(isn(ôrnn(g9@(Rsi(è“nnhi(ij(hlnJ(¨üròèr{çJH
Vm(ws(vmorm(lêsnshs(jrvm(êmuìiè(RAF)W>F(jhi(usJ(¨ãM
¨HH( Yj(rp(sóvP(rîj(jhÃpi(krj(©rjjip(oioin(ksi(dmîœnkiP(rîj(èmvvi(rlj(
kip(Vsiòi(kij([rnoij(isn(aprljin(óipP(g9@(umn(Ãwipjgóîroinkiv(©rjjipP(
º(¨üròèr{çJç
ürm(kr(nr(kpuini(skmui(nrîsìiíl(urîmusP(r(s(klwsni(ómknsèr(kmñspi(élv(
rñìinléini(umkiP(º(¨ãI
¨Hç( ©sp(jsnk([ijgóœòhjîilhi(g9@(Rsi(lnk(sjjin(ksi(õish(umn([ijgóœòhjîilhin(
psgóhso(l(wiiphinJ(¨üròèr{âJ§
ôs(jvmP(RAF)9(usP(ñmjîmuns(îìlks(s(nrvm(éhr(r(ñmjîmunmo(êmuìièr(nrês(
( upsìiviJ(¨KHI
Iâ

aA:@CA)o@W9û
¨H§(
Xrj(rp(krj(d“gójhiP(rj(sp(l—hinP(lnk(sp(krgóhin(ij(lnj(j×(lnk(
lnkipwrpP(Ynoiî(l(jisnP(lvoiwin(umn(isniv(îsgóhin(üîrno(lnk(Xlòh'
g9@'©isónrgóh(lnk([îÃgèJ(¨dijji{K§
Vm(ìi(wsîm(mnm(nrìuséi(éhm(jvm(nrîsP(r(vs(jvm(vsjîsîs(èrèm(ìi(jîrhèm(s(
êlkijnm(wshs(rn⁄im(mèplëin(jusìihîsv(ulèmv(s(vspsjmv(BFB(amësír(s(
jpiíiJ(¨KK
ôrngóvrî(spk(ksi(g9@L^óprji(vsh(isniv(Wiwinjrh(snj(amjnsjgói(ÃwipjihhJ(
Un(ksijiv(brîî(spk(kip(Wiwinjrh(vsh(kip(ümnìlnèhsmn(RAF)W>F(isnoiîishihJ(dsip(
èmvvh(ij(rlgó(vrngóvrî(umpP(krjj(rlj(jhsîsjhsjgóin([pÃnkin(g9@(orp(nsgóh(ÃwipL
jihh(spkJ(Xsi(óœlûojhi(Òwipjihlnojurpsrnhi(sjh(krj(wmjnsjgói(Ziiv(RAFJ(Yj(
isjh(sn(ksijip(cipinklojisji(ksijiîwin(Ysoinjgóròhin(si(krj(kilhjgói(ZiL
iv(g9@)vsh(uipoîisgóinkip(blnèhsmn(rlò(lnk(èrnn(króip(rlgó(kip(©mphrph(kip(
cipoîisgójñrphsèiîn(loimpknih(ipkinJ(ôrngóvrî(spk(isn(nrgóoijhiîîhij(iP(si(
sp(ij(wsjóip(wis(rnkipin(©mphrphin(oijióin(órwinP(oiwprlgóhJ(Yj(uipœnkiph(kin(
Tórprèhip(kij(Ziivj(nsgóhJ(
OFB(èrnn(nlp(l(kin(^pœñmjshsmnin(oió“pinP(kr(rlgó(ósip(isn(Wmvin(sv([insL
hsu(òmîohJ
©sp(wihprgóhin(RAF(lnk(BFB)rlgó(ósip(rîj(igóhi(ßúlsurîinhiJ(
uO'WIEÅab3*/-'*,/'*.[-3+1*,+-/)1004X`
Iä
uOlO''[oBAp|vKAJA'wieÅatKoDA
crîinòpisi(g9@L^óprjin(wisióin(jsgó(inhikip(rlò(krj(Rlwìièh(¨aisjñsiî(Hå(
mkip(rlò(krj(Qèèljrhsumwìièh(¨aisjñsiî(HãJ(Xsiji(Yîivinhi(wijhsvvin(rlgó(kin(
ürjlj(kij(nrgóòmîoinkin(RlwjhrnhsujJ(Xsi(g9@L^óprji(sjh(sn(ksijiv(brîî(rîj(isni(
Qnorwi(l(wihprgóhinJ(©sp(órwin(ksi(ómói(õróî(kip(aisjñsiîi(vsh(isnip(jmîgóin(
Qnorwi(rlj(kiv(ümpñlj(rlò(isn(ôsnsvlv(piklsiphP(nlp(lv(l(isoinP(iîgói(
Òwipjihlnojv“oîsgóèishin(umpórnkin(jsnkJ(ais(rîîin(urîinòpisin(g9@L^óprjin(
órnkiîh(ij(jsgó(lv(ômkrîrnorwinJ
¨Hå( (ºæ'g9@'isni(ôrjèi(ûiî(ksi(îœnojh(nlp(nmgó(èÃnjhîsgó(òijhoiórîhini(ôsini(
kip(©rgóóishP(\vjsgóhP(ZsiwinjÃpksoèish(lnk(Yniposi(umn(ksijiv([iL
jsgóhi(rwP(º(¨ôrnn{§ãã(((
¨Hã( ºP(krnn(èrnnjh(kl(kisnin(©sîîin(rnjñrnnin'g9@'isnin(olhin([rlîJ(¨dijji{ãK
Qîj(ßúlusurîinhi(òÃp(isn(jm(oiwprlgóhij(g9@)oiîhin(nrgó(drnjinLümèmplé(ih(
rîJ(¨HMMå{KIâç{(RAF)m9n)lnk(BFBJ(©rj(krj(Ziiv(RAF)rnwiîrnohP(jm(jsnk(sp(

XUY(cY`[ZYUTdR^Q`VUüYZ(_`](\WX(Ud`Y(ß]\UcQZYWVY(Uô(aSRWURTdYW
rlgó( sn( ksijiv( brîî( kip( òijhin( ÒwipilolnoP( krjj( ij( jsgó( krwis( lv( isni(cipL
oîisgójñrphsèiî(órnkiîhJ(OFB)sjh(ìikmgó(isni(^pœñmjshsmn(vsh([inshsuJ(OFB)lnk(
RAF)órwin(rp(wiski(isni(uipoîisgóinki(aikilhlno(lnk(îsi—in(jsgó(jivrnhsjgó(
kin(cipoîisgójñrphsèiîn(lmpkninJ(Yj(wijhióh(ìikmgó(isn(\nhipjgósik(sn(kip(blnèL
hsmn(kip(wiskin(ZiiviJ(¨uoîJ(rlgó(^prnìèmusíP(HMMå{åã((OFB)òmîoh(nœvîsgó(
svvip(kip([inshsu(lnk(RAF)èisn(wijhsvvhip(ürjljJ
©sp(órwin(rnórnk(lnjipip(aisjñsiîi(òijhjhiîîin(è“nninP(krjj(ij(rl—ipkiv(v“oL
îsgó(sjhP(g9@(sn(isnip(g9@L^óprjiP(iîgói(rîj(Qnorwi(sv(Rrh(òlnosiphP(rlgó(vsh(
isnip(jlwmpksnsipinkin(ümnìlnèhsmn(l(ÃwipjihinP(lnk(rp(vsh(RAF)HAl)RAF)RAH)
lnk(RAF)W>FJ(
¨Hâ( ºP(kip(Snèiî(rwip(òlóp(nrhÃpîsgó(g9@(isn([ijhmgóinip(rlòJ(¨üròèr{ãJH
ºP(s(jhpsgP(nrprunmP(jèmês(RAF)HA'or(ìi(hèm(wmgnlm(soîmvJ(¨Iå
¨Hä( ºP(kr—(ij(ènrîîhi'g9@'isn(jñpsnoinkip(TórvñronipñòpmñòinJ(¨ôrnn{ãã
ºP( hrèm( kr( ji( êlìi( ñprjrè( RAF) RAH( sîihs( rñlérê( s( ¿réi( érvñrnìgrJ(
( ¨arnk(K{ãK
¨HI( ºP(lnk(üJ(jróP(g9@(jm(mòhP(rlò(sóp(RgóÃpinwrnk(nsikipP(º(¨üròèr{KJH
ºP(s(üJP(RAF)W>F'ìi(êsnsm(êijhmP(wrgs(ñmoîik(nr(ñpsñrjrêl(nìini(ñpiorêiP(
( º(¨Kä
Wsgóh(svvip(òmîoh(rlò(g9@(isn(RlwjhrnhsuJ(Xsij(oióh(rlgó(rlj(kiv(aisjñsiî(çM(
óipumpJ(Qlò(g9@(èrnn(rlgó(isni(^pœñmjshsmnrîñóprji(òmîoin(¨aisjñsiî(çMJ(Qlgó(sn(
ksijiv(brîî(sjh(ksi(oijrvhi(g9@L^óprji(isni(ômkrîrnorwiJ(
¨çM(
ŸUgó(nióvi(ij(rn„P(jrohi(üJP(kip(jhpròò(rlòoipsgóhihP(g9@(rlò(kip(ZrlipP(
krjr—J(¨dijji{äJç
uOmO'[oBAp|oytwpxJxA'wieÅatKoDA'
ei(nrgókiv(mw(krj(Rlwìièh(mkip(krj(Swìièh(kin(ürjlj(wijhsvvhP(wiisgóL
nin( sp( urîinrwóœnosoi( g9@L^óprjin( sn(Qnîiónlno( rn( Ynoiî( ¨HMM§{KM§( rîj(
RlwìièhjL^pœksèrhsuipoœnlno( mkip( SwìièhjL^pœksèrhsuipoœnlnoJ( Xsi( õróî( kip(
urîinrwóœnosoin(g9@L^óprjin(sjh(wiopinhJ(Ysn(jm(oiwprlgóhij(g9@(sjh(isn(òijhip(
aijhrnkhisî(kip(`ièhsmnP(mwmóî(ij(èisni(^pœñmjshsmn(sjhJ(©sp(wihprgóhin(ij(rlgó(
ósip(rîj(cipoîisgójñrphsèiîJ
¨çK(
JJJP(kip(jsgó(wisnrói'g9@'\nvlh(rljnróvJ(¨ôrnn{Håå
II

KMM
aA:@CA)o@W9û
Wrgó(diîwso£aljgór(¨HMMK{§Kä(sjh(rlgó(isn(jm(oiwprlgóhij(g9@(isni(èmvñrprhsL
ui(QkìlnèhsmnJ(Wrgó(kip(X\XYWL[prvvrhsè(¨HMMå{ãçH(sjh(ij(isni(RrhhisîèmnL
ìlnèhsmnP(ksi(isnin(cipoîisgó(rljkpÃgèhJ
bmîoinkin(kiv(ümpñlj(inhnmvvini(cipwin(uipîrnoin(isni(klpgó(g9@(isnoiîisL
hihi(Ypoœnlno{(=9bJ)AGA;@:l)=9bJ);@føGH@:l)
RC9:;@:l)=bJ@9:@:l)QFGRFPP@:l)f@JA:H@C:J
Xsi( g9@L^óprji( órh( vrngóvrîP( si( wipishj( ipœónh( lpkiP( ksi( blnèhsmn( isnip(
RlwìièhjL^pœksèrhsuipoœnlno{
¨çH( (Rsi(órwin(ksi(Rgó“nóish(sn(kin(Rhrlw(oimoinP(Rsi(órwin(jsgó(winmvvin(
g9@(isn(crnkrîiP(si(isn(arpwrpP(º(¨ôrnn{(âçM
crîìrîs(jhi(îiñmhl(ñm(wîrhlP(ñmniîs(jhi(ji(RAF(urnkrîP(èrm(urpurpsnJ(¨arnk(
( H{(çKK
Xsi(g9@L^óprji(órh(rwip(rlgó(vrngóvrî(ksi(blnèhsmn(isnij(Swìièhjñpœksèrhsuj{
¨çç( Ugó(rp(òpmóP(kr—(ip(vsgó(nróv(lnk(wiórnkiîhi(g9@(ksi(rnkipnJ(¨dijji{(
( Kå
asm(jrv(jpihrn(jhm(vi(lim(s(ñmjhlñrm(jr(vnmv(RAF(s(j(mjhrîsvrJ(¨KH
Un(kin(isjñprgósoin(©“phipwÃgóipn(èmnnhin(èisni(aisjñsiîi(vsh(isnip(urL
îinoiwlnkinin(g9@L^óprji(rljûnkso(oivrgóh(ipkinJ(Qlj(kip(ümpñljrnrîïji(
oióh(óipumpP(krjj(rîj(Ynhjñpigólnoin(sv(amjnsjgóin(nlp(RAF)lnk(RAF)9)oiîhinJ(
Xsi(wmjnsjgóin(cipwin(jgóisnin(rîjm(isni(klpgó(RAF)isnoiîishihi(Ypoœnlno(l(
uipîrnoinP(kJ(óJ(jsi(piosipin(isni(RAFL^óprji{
( j9bJ)A9)RAF)£)Ä
) =9bJ)f@:@JP@:)g9@)£)Ä)) r) BF:9E@>9)=@)RAF)£)Ä
) =9bJ)f@>GA;@:)g9@)£)Ä) ) r)) BF:AWA>9)=@)RAF)£)Ä
) =9bJ);@føGH@:)g9@)£)Ä) ) r) :ARG@Q@CE9>9)=@)RAF)£)Ä
) RC9:;@:)g9@)£)Ä() ) r)) kQ9)RAF)£)Ä
) QFGRFPP@:)£)Ä) ) r) 9k;C@HA>9)RAF)£)Ä
) EPH:s)f@JA:H@C:)g9@)£)TYY)) r) BF=>9)=A):@R9P)RAF)=A)£)`
Xip(ürjlj(jgóisnh(jmmóî(sv(Xilhjgóin(rîj(rlgó(sv(amjnsjgóin(krumn(rwlóœnL
oinP(mprlò(jsgó(ksi(g9@r^óprji(wisióhJ(ais(rîîin(mwin(oinrnnhin(cipwin(8(wsj(
rlò(krj(cipw(f@JA:H@C:(L(wisióh(jsgó(ksi(g9@L(wJ(RAFL^óprji(rlò(krj(RlwìièhJ(
Xivinhjñpigóink(sjh(krj(rlò(g9@)wJ(RAF(òmîoinki(Rlwjhrnhsu(mkip(^pmnmvin(
sv(WmvsnrhsuJ(aisióh(jsgó(rwip(ksiji(^óprji(rlò(isn(Swìièh(si(wis(f@JA:H@C:(

XUY(cY`[ZYUTdR^Q`VUüYZ(_`](\WX(Ud`Y(ß]\UcQZYWVY(Uô(aSRWURTdYW
wJ(BF=>9P(jm(sjh(ksijij(Rlwjhrnhsu(wJ(^pmnmvin(sv(jiîwin(ürjlj(si(krj(
SwìièhJ
YAF)sjh(rlgó(ósip(lnjipip(ôisnlno(nrgó(isni(cipoîisgójñrphsèiîJ(
,1)-3*)43[-3§-1YbX1/
Xlkinwrnk(§'í'^9@)jGAPP>9R)¨HMMåJ(âJP(u“îîso(nil(iprpwishihi(lnk(ipishiphi(Ql¿roiJ(
ôrnnóisvP(ZisñsoP(©sinP(õÃpsgóJ
YoojP(bJ(¨HMMãJ(^9@)jGAPPA>9R)QF:)AC=)9Rs)Ä@GA=>9Q@)jGAPPA>9Rs)^@=bJra@GfFRGFA>9=bJs
drónivrnnP(RJ(¨KIIIJ(V@G;C@9bJ@)9P)V@G;C@9bJs)çAñ)9R)A@G)
V@G;C@9bJ==>G)¡AC=¬)9Rs)]9:)tA:Hf9RJ(]9:)tA:Hf9) ]P9CA) a9:bCA9GAs( ^piuiîr( amìrnr( õiîìèmL
ZsñuméírèJ(õropiw
üròèrP(bprn{(OGFb@=s)^piuim(amomvsp(dipvrnJ(Rrprìium
ôrnnÄ'Vómvrj{(U

aA:@CA)o@W9û
~•3)-3+Yb-3'
drnjinLümèmplé£ôrhiésí£^iêlpLôiksnoip£õnsèr{(^@=bJrRGFA>9=bJ@=)¥:9Q@G=ACg±G>@Gf=RF;)R:E9@Q:F;)E@k9RA)FÜ)RARAQl)RARQAl)
RARQFÜ)BFBÜ)RFC9RF(s(W>FJ(\ñmhpsìiwîìinm(ñmjîsìi(svinsgr(s(rvìinsgr(vmëi(ji(ñpiuijhs(jr(
RAF)W>Fl)RAF)9l(Ø(s(BFBJ(Wie(l(òprrvr(èmìi(nsjl(mkpi⁄ini(urîinhnméíl(ñpiuikinm(ìi(l(
èmpñljl(jr(RAFl)RAF)9l)RAF)HAl)BFBl)ül)RAF)RAHl)RFC9RF)9)RAHl)P@=>Fl)RAF)W>FP(l(òprrvr(
mkpi⁄insv(urîinhnméíl(jr(RAF(s(RAF)9J
YCE

=86;HI7#C;B;?
ß-1X§-,`£X`-3ß'1X'.-3'.-4)/Yb-X'/a3*Yb-'4X.''
.1-'-X)/a3-Yb4X`-X'10'+Z/X1/Yb-X'
Å'4X)-3/4Yb)'*0'+-1/a1-,'[ZX'SEI ES Å
Un(ksijiv(aishpro(oióh(ij(lv(isni(Qph(ümnnièhmpin(sn(kip(kilhjgóin(RñprgóiP(ksi(l(èisL
nip(wièrnnhin(©mphèîrjji(loimpknih(ipkin(è“nninP(kr(jsi(Ysoinjgóròhin(umn(vióipin(
rlòisjinJ(Ysn(jmîgóip(ümnnièhmp(sjh(=@9)@=P(kip(isnsoi(Tórprèhipsjhsèin(kip(èmmpksnsiL
pinkin(ümnnièhmpin(órhP(rwip(rlgó(jmîgóiP(ksi(nsgóh(òÃp(ümnnièhmpin(górprèhipsjhsjgó(
jsnkP(jm(krjj(ip(nsgóh(sn(ksiji(©mphèîrjji(isnoimpknih(ipkin(èrnnJ(bÃp(ksi(QlòòrjjlnoP(
krjj(=@9)@=(isni(wijmnkipi(Rhiîîi(snnipórîw(kip(kilhjgóin(Rñprgói(órhP(jñpigóin(rlgó(ksi(
Òwipjihlnoin(ksijij(ümnnièhmpj(snj(wmjnsjgóLP(èpmrhsjgóLP(jipwsjgói(Rñprgói(jmsi(ksi(
Òwipjihlnoin(rlj(kiv(amjnsjgóin(snj(XilhjgóiP(mwis(lnhipjgósikîsgójhi(jñprgóîsgói(
Yîivinhi(rîj(ßúlsurîinhi(umpèmvvinJ(
abJCè==@Cg±G>@G{(ümnnièhmpP(ümnìlnèhmpP(RlwìlnèhmpP(^rphsèiîJ
lO'-1X,-1)-X.-'+-0-3{4X`-XO'
Xrj(^pmwîiv(kip(Ysnhisîlno(kip(©“phip(isnip(Rñprgói(sn(inhjñpigóinki(©mphL
èîrjjin(wijhióh(rópjgóisnîsgóP(jishkiv(vrn(jsgó(vsh(kip(Ypòmpjgólno(kip(RñprL
gói(wijgóœòhsohJ(Un(kip(îrnoin([ijgósgóhi(kip(Rñprgósjjinjgóròh(orw(ij(róîpisL
gói(cipjlgóiP(ksi(©“phip(isnip(Rñprgói(nrgó(lnhipjgósikîsgóin(ôihómkin(lnk(
üpshipsin( sn( rljnróvjîmj( òlnèhsmnsipinki( üîrjjin( l( jmphsipinJ( Xsi( kilhjgóin(
Rñprgósjjinjgóròhîip(rpin(rlò(ksijiv([iwsih(sivîsgó(ipòmîopisgóP(jsi(órwin(
hpmhkiv(svvip(nmgó(nsgóh(rîîi(^pmwîivi(oiî“jhJ(Ysnin(cmpjgóîro(òÃp(ksi(Z“jlno(
kip(pijhîsgóin(^pmwîivi(órwin(^rjgó(ih(rîJ(¨HMMç(oivrgóhP(snkiv(jsi(isni(nili(
üîrjji(oiopÃnkih(lnk(sn(ksiji(üîrjji(rîîi(ìini(Yîivinhi(kip(Rñprgói(jmphsiphP(ksi(
Ysoinjgóròhin(viópipip(©mphèîrjjin(rlòisjinJ(Un(ksijip([plññi(wiûnkih(jsgó(
rlgó(kip(ósip(l(wiórnkiînki(ümnnièhmp(=@9)@=J(Xsi(^pmwîivi(sv(amjnsjgóin(jsnk(
róîpisgóip(lnk(usiî(èmvñîiipP(kr(ósip(usiî(insoip(oiòmpjgóh(spk(lnk(kivinL
jñpigóink(insoip(wijgópsiwin(lnk(ipèîœph(mpkin(sjhJ(Ysni(œónîsgói(RshlrhsmnP(
KMç

]GP9:RA)ç9C9û
vsnkijhinj(sn(ailo(rlò(krj(oinrnnhi(^pmwîivP(èmnnhi(sgó(rlgó(sv(üpmrhsjgóin(
lnk(Ripwsjgóin(òijhjhiîîinJ
mO'SEI ES'10'.-4)/Yb-XO'
mOlO'.AñpJGJFpÄ'LFKE'@pH'bw@ñx}AJGO'
ôsh(kiv(aiopsòò((®ümnnièhmpinf(ipkin(sn(ksijiv(aishpro(jmmóî(ümnìlnèL
hmpin(rîj(rlgó(Rlwìlnèhmpin(wiisgónihP(si(rlgó(ìini(ümnjhplèhi(kip(kilhjgóin(
RñprgóiP(ksi(Ysoinjgóròhin(wiskip(ksijip(ürhiompsin(rlòisjin(lnk(sv(drnkL
wlgó(kip(kilhjgóin(ümnnièhmpin¥(umn(^rjgó(ih(rîJ(¨HMMç{(åä§(òòJ(rîj(–YsniîoœnL
oip®(wiisgónih(ipkinJ(=@9)@=)spk(rîj(ümnnièhmp(nlp((sn(kip([prvvrhsè(kip(
kilhjgóin(Rñprgói¥(umn(õsòmnln(ih(rîJ(¨KIIâ{(HçKI(òòJ(lnk(jmnjh(sn(èisnip(oœnosL
oin([prvvrhsè(ipœónhJ(Uv(Xlkin(©“phipwlgó(¨KIâã{(Hçãä(spk(rîj(ipèîœpinki(
aikilhlno(umn(=@9)@=)sss)=@9)@=)S=@9)@=)sss)FH@G((inhikip(JJJ(mkipæ(èrnnP(vro(jisn(
ªkr—(JJJ(mkip(ªkr—æ(mw(JJJ(mkip(ªmw¥(rnoioiwinJ(Ysni(olhi(lnk(lòpsikinjhiîîinki(
aijgópiswlno(sjh(sn(kip(oinrnnhin([prvvrhsè(umn(õsòmnln(ih(rîJ(l(ûnkinP(m(
isniP(visnij(©sjjinjP(nili(jivrnhsjgói(ürhiompsi(isnoiòÃóph(spk(8(krj(®UppiîiL
urnèmnkshsmnrîif(8(krj(isni(èmnkshsmnrîi(aisiólno(sjgóin(isniv(ümnjiL
úlinj(lnk(isnip(ôinoi(umn(QnhiikinjwiksnolnoinP(ksi(isn(ornij(Rñièhplv(
umn(ô“oîsgóèishin(vióp(mkip(insoip(ipjgó“ñòink(ipòrjjin¥P(jñisûsiphJ(üisni(
ksijip(ô“oîsgóèishin(èrnn(krwis(ksi([Ãîhsoèish(kij(ümnjiúlinj¥(¨iwkJ(wiisnL
¿ljjinJ(Xsiji(nili(ürhiompsi(jhióh(jivrnhsjgó(sjgóin(kip(ümnkshsmnrîshœh(lnk(
ümnijjsushœhJ(©si(wisv(ümnkshsmnrîi(lnk(rnkipj(rîj(wisv(ümnijjsujrh(èrnn(
nsgóh(rlò(ksi([Ãîhsoèish(kij(Qnhiikinj(oijgóîmjjin(ipkinæ(si(wisv(ümnijL
jsujrh(lnk(rnkipj(rîj(wisv(ümnkshsmnrîjrh(èrnn(rlò(ksi([Ãîhsoèish(kij(ümnjiL
úlinj(oijgóîmjjin(ipkin¥(¨iwkJ(\nhip(jñprgóîsgóin(ôshhiînP(ksi(lv(Qljkplgè(
kij(–Uppiîiurnèmnkshsmnrîij®(ksininP(spkP(lnhip(rnkipivP(rlgó(=@9)@=)HA¿P(wJ(
jisni(iîîsñhsjgói(bmpv(=@9)@=S)@GS)=9@)sss)FH@G)wJ)=@9)@=S)@GS)=9@)sss)=@9)@=S)@GS)=9@(
¨õsòmnln(ih(rîJ(KIIâ{(HçHM(rnoiòÃóphJ(
[inrlipi(Qnorwin(Ãwip(ksi(vmpñómîmosjgóLjïnhrèhsjgóin(Ysoinjgóròhin(umn(
=@9)@=(inhóœîh(drnkwlgó(kip(kilhjgóin(ümnnièhmpin¥(umn(^rjgó(ih(rîJ(¨HMMç{(ãH§(
òòJP(m(ij(rîj(isn(ljrvvinoijihip(ümnnièhmp(wijgópsiwin(spkP(kip(rîj(ümnL
nièhi(ìiisîj(isni(Rlwmpksnrhmpñóprji 1 (mkip(isnin(rnkipin(Qljkplgè(sn'WsgóhL
jrhòmpv(órwin¥(èrnnJ(õlv(aisjñsiî{
K( ( bÃp(^rjgó(ih(rîJ(¨HMMç{(Iã(jsnk(®Rlwmpksnrhmpñóprjinf(asîklnoinP(ksi(rlj(Rlwmpksnrhmpin(lnk(
RœhinP(kipin(cipwîihhjhiîîlno(umn(sónin(rwóœnohP(wijhióinJ(
KM§

®YUWõYZ[ßW[Y`®(UW(XY`(XY\VRTdYW(R^`QTdY(\WX(XUY(JJJ
abJg@Gl)CA:;=APl)Af@G)@:H;èC>9;)JAf@)9bJ)P9bJ)QF:)H@P)jCAl)HA¿)
9G:@);@R:èBi>)=9:Hs)^A¿)
HFG>)a@@C@:)gFJ:@:l)øJ:C9bJ)H@:)l)@:l)P9¿;è:=>9;)Q@Gg9GG@:s(((((((((¨©mîò(UUP(RJ(KâH
:;=>C9bJ)fC9bR>@)vG9@HA)Ys)A:Ü)HA¿)=9@)@9:)ç9PP@Gl)@l)
gFJ:C9bJ)@9:k@:)Q@G=>A:Hl)JA>>@)=9@)EA)9P)UGèbR@:JFi)f@g9@=@:l)ªJJJJ((((
¨üròèrP(abJCF¿P(KHM
Wrgó(^rjgó(ih(rîJ(sjh(=@9)@=(nsgóh(nlp(ljrvvinoijihhP(jmnkipn(rlgó(vióphisîso(
¨iwkJP(lnk(rp(jmP(krjj(kip(ipjhi(Visî(ump(kiv(ipjhin(lnk(kip(ishi(ump(kiv(
ishin(ümnnièh(jhióhJ(Xip(ishi(Visî(kij(ümnnièhmpj(sjh(jióp(mòh(isn(ishipij(
=@9)@=P(si(krj(kip(nœgójhi(aiîio(uiprnjgólîsgóhJ(Qn(ksijiv(aiîio(sjh(rlgó(óipL
umplóiwinP(krjj(kip(ishi(Visî(kij(ümnnièhmpj(isoinhîsgó(=@9@:)@=(sjhP(kJóJ(ósip(
èmnoplsiph(kip(uipwrîi(Visî(kij(ümnnièhmpj(vsh(kiv(ailojrljkplgèP(krj(es(sjh(
rwip(nsgóh(iooiòrîîin(lnk(klpgó(isni(rnkipi(vsh(kiv(cipw(sein(èmnoplsipinki(
bmpv(kij(^ipjmnrîñpmnmvij(ipjihhP(si(krj(wis(^rjgó(ih(rîJ(¨HMMç{(ãHâ(òòJ(krpL
oijhiîîh(spk{
`:) H@G) _@=>=bJg@9k) 9=>) H9@) V@G>@9H9;@:l)
=bJC@bJ>@GH9:;=) :9bJ>) @GCA@l) HA=) h@i@G@:HAPPl)sei es)9:)H@:)
a>øH>@:)oder)H@:)T

]GP9:RA)ç9C9û
^Af@9)g9GH)@=)=øbJC9bJ)]9:­
;A:;)9:)H9@)`:>@GAR>9F:){:H@>Ç)sei es )H9Q9>ø>@:)oder)sei es)HJ@R@:)@G@)JAf@)9bJ)HA:RfAG@)]G9::@­
G)P9Gl)sei es)@9:k@C:)oder)ACC@)k)k>)g9@)H@G)h@AH9:;)hFFPJ'
¨`Iâ£XYõJIâçåä( bprnèòlphip( `lnkjgórlP( MIJKHJKIIâP( RJ( §P( `ijjmph{( õYUV(
\WX(aUZXæ(Yñshrñó(òÃp(kin(¥`irksno(`mmvø(sv(apshsjgóin(ôljilv
^rjgó(ih(rîJ(¨rJrJSJ(órwin(ksi(jïnhrèhsjgóin(Ysoinjgóròhin(umn(=@9)@=P(ksi(rlò(
jisnin(Ysniîoœnoipjhrhlj(ósnisjin(lnk(klpgó(ksi(jsgó(ksijip(ümnnièhmp(umn(
kin(pijhîsgóin(ümnìlnèhmpin(rwóiwhP(oinrl(lnhipjlgóh(lnk(krpoijhiîîhJ(dsip(jis(
KMã

®YUWõYZ[ßW[Y`®(UW(XY`(XY\VRTdYW(R^`QTdY(\WX(XUY(JJJ
nlp(lp(ciprnjgórlîsgólno(rlò(ksi(sgóhsojhin(krplnhip(rlòvipèjrv(oivrgóhJ(
Xrj(sjh(lipjh(isnvrî(jisni(\nòœósoèish(ksi(cmpòiîkñmjshsmn(l(wijihin{
‹(Sei es)@9:k@C:)oder)ACC@)k)P9G)R@9:@)QF:)9J:@:)=F)Q9@C);@JFCi@:l)
P9bJ)=F)=@JG)A:;@G@;>)k>)g9@)H@G)h@AH9:;)hFFPJ
Xsi(klpgó(=@9)@=(isnoiîishihin(ümnnièhi(è“nnin(nsgóh(jïnhrèhsjgó(jiîwjhjhœnkso(uipL
inkih(ipkinP(si(krj(òÃp(èmmpksnsipinki(ümnnièhmpin(górprèhipsjhsjgó(sjhJ(õJaJ{(
* Sei esl)HA==))@9:k@C:)P9G)R@9:@)QF:)9J:@:)=F)Q9@C);@JFCi@:)JA>l)sei es HA==)=9@)
ACC@)P9G);@JFCi@:)JAf@:)FH@G)P9bJ)=F)=@JG)A:;@G@;>)k>)JAf@:)
g9@)H@G)h@AH9:;)hFFPJ
Xsi(ümnnièhi(umn(=@9)@=(è“nnin(rl—ipkiv(èisni(umîîrljoiwsîkihin(RœhiP(hprksL
hsmniîî(oinrnnhin(drlñhL(wJ(SwipjœhiP(jmnkipn(nlp(jmoJ(WiwinL(wJ(\nhipjœL
hi(jisnP(JaJ{(
Ä@)Ys);C@9bJ)èbR)@9C@:l)Af@G):FbJ)A)Ys=)H@)@GBGFf@:)gFCC@:l(ªJJJl)493'94-'2AK)@G):

]GP9:RA)ç9C9û
è“nninP( rj( kiv( ümnnièhmp( =@9) @=( sv( amjnsjgóin( ¨üpmrhsjgóin£( Ripwsjgóin H (
inhjñpsgóhP(órwi(sgó(isnsoi(`mvrni(kilhjgóip(Qlhmpin(lnk(sópi(Òwipjihlnoin(
snj(amjnsjgói(wJ(üpmrhsjgói(lnk(Ripwsjgói(sv(dsnwîsgè(rlò(ksi(Òwipjihlno(
kij(ümnnièhmpj(=@9)@=(lnhipjlgóhJ(Ql—ipkiv(órwi(sgó(ksi(Òwipjihlno(kij(`mL
vrnj(Ujhmêns(ksurn¥(umn(XëJ(ürprórjrn(rnrîïjsiphP(lv(l(ipvshhiînP(rj(rlj(
kiv(amjnsjgóin(snj(Xilhjgói(vshósîòi(umn(=@9)@=(Ãwipjihh(mpkin(sjhJ(Xsi(umpoiL
nmvvini(ümpñljrnrîïji(órh(oiisohP(krjj(vrn(ósnjsgóhîsgó(kip(Ynhjñpigólnoin(
sv(amjnsjgóin(viópipi(cipinklnoin(umn(=@9)@=)lnhipjgóiskin(èrnn(wJ(krjj(
ksi(aiórlñhlnoP(krjj(ksi(kpis(bmpvin(œúlsurîinh(jisin(¨^rjgó(ih(rîJ(HMMç{(ãHåP(
ÃwipñpÃòh(ipkin(jmîîhiP(kinn(ksi(rnoiòÃóphin(bmpvin(jsnk(mòòinjsgóhîsgó(nsgóh(sn(
rîîin(cipinklnoin(rljhrljgówrpJ(
KMä
uOlO'makar'oBD'-pGDzKAqt@px'nFp'sei esO''
Xsi(óœlûojhi(Ynhjñpigólno(kij(ümnnièhmpj(=@9)@=(sv(amjnsjgóin(sjh(rlò(ìikin(
brîî(ìini(vshósîòi(umn(PARAGJ(ôrn(è“nnhi(jroinP(krjj(ij(krj(isnsoi(ôshhiî(lp(
Òwiphprolno(umn(kin(vsh(isnhisîsoiv(ümnnièhmp(=@9)@=(isnoiîishihin(^óprjin(kip(
kilhjgóin(Rñprgói(snj(amjnsjgói(sjhJ(©si(wipishj(wihmnhP(èmvvh(kip(ümnnièhmp(
=@9) @=( sn( îshiprpsjgóin(Vihin( piîrhsu( jiîhin( ump( lnk( krklpgó( sjh( ksi( `iñpœjinL
hrhsushœh( kij( ümpñljij( sivîsgó( isnoijgópœnèhJ( ©inn( rwip( ksi( Ynhjñpigólno(
umn(rîîin(aisjñsiîin(vsh(=@9)@=(oiprki(PARAG(sjhP(krnn(krpò(vrn(kmgó(oisjji(
RgóîÃjji(sióinJ(oARAG)spk(sn([prvvrhsèin(lnk(©“phipwÃgóipn(kij(amjnsjgóL£(
üpmrhsjgóL£Ripwsjgóin 3 ( umpsioink( rîj( èmnijjsuip( Rlwìlnèhmp( wijgópsiwinJ(
Ql—ipkiv(jh“—h(vrn(wis(kin(visjhin(Qlhmpin(rlgó(rlò(kin(dsnisjP(krjj(ij(rîj(
Qkuipw(uipinkih(ipkin(èrnnP(jm(JaJ(sv(`iênsè(jpñjèmópurhjèmo(ènìsëiunmo(
ìisèr¥(¨KIIã(mkip(`ìiênsè(ópurhjèmor(ìisèr¥(¨Qnsí{(KIIãJ(Wlp(insoi(QlL
hmpin(isjin(rlgó(rlò(ksi(ô“oîsgóèish(ósnP(krjj(PARAG(rlgó(rnkipi(blnèhsmnin(
Ãwipnióvin(èrnnJ(Un(kin(aisjñsiîin(rlj(kiv(lnhipjlgóhin(ümpñlj(órnkiîh(ij(
jsgó(mòòinjsgóhîsgó(nsgóh(lv(isnin(RlwìlnèhmpP(kinn(PARAG(îishih(svvip(isn(WsgóL
hjrhèmnnièh(wJ(isni(^óprji(isn(lnk(krwis(rlò(kin(ailojrljkplgè(vmksûsiL
pink(spèhJ(Yj(èrnn(nsgóh(jiîwjhjhœnkso(sv(Rrh(umpèmvvin(lnk(sn(kin(visjhin(
bœîîin(èmvvh(ij(sn(ümvwsnrhsmn(vsh(kip(^rphsèiî(=APF(umpJ(Xrj(inhjñpsgóh(rlgó(
kip(cipinklno(umn(=@9)@=P(krj(rlgó(jióp(mòh(vsh(:

®YUWõYZ[ßW[Y`®(UW(XY`(XY\VRTdYW(R^`QTdY(\WX(XUY(JJJ
=F;AG(ipjihinP(inn(kip(=@9)@=(umprljoióinki(Rrh(ròûpvrhsu(sjh¥(¨iwkJ(lnk(
klpgó(:9bJ>)@9:PACP(inn(ksijip(Rrh(niorhsu(sjhJ((õlp(ciprnjgórlîsgólno(jis(ósip(
isn(aisjñsiî(rnoiòÃóph{
_@P) Q@G>GA) H@) @)Hl)sei es)AFG9E9):AHAW)HA)E@)9)BG

]GP9:RA)ç9C9û
¥:H)9=>):9bJ>)QFGA

®YUWõYZ[ßW[Y`®(UW(XY`(XY\VRTdYW(R^`QTdY(\WX(XUY(JJJ
_@CbJ@G)oA::l)@Gl)
f@GèJJG>) ;@G:@) H9@) fCA==@) )
gAJGl)ªJJJJ(((((((((¨©mîòP(o@H@AP(RJ(KHä
YFE9) >F) PAbl)
GAHF) HFH9G)>@)@G)J9:k9F:9XAGs)OF­
W>F)E@)Ys)ûAFl)F:)HFHAH@l)bilo)HA);A)
@W9)ili)HA)W>F)BG@)FH@Ç)ªJJJJ((((((((((((((¨KKH
uOuO'*pHAKA'0©xBJqt}AJGAp'vK'HJA'yAKDAG|@px'nFp'sei es snj'+FDpJDqtA('
{KFoGJDqtA( /AKyJDqtAO'
Un(isniv(aiîioP(kip(rlj(kiv(`mvrn(Rgóîm—ø(umn(bJ(üròèr(jhrvvhP(spk(sv(
Xilhjgóin(=@9)@=l)HA¿)sss)FH@G(lnk(sn(kip(Òwipjihlno(PARAG)sss)9C9(uipinkihJ(Yj(
ipkin(rîjm(isn(èmnijjsuip(lnk(isn(rljjgóîsi—inkip(ümnnièhmp(uipènÃñòhP(rj(
èisni(wijmnkipj(oiîlnoini(Òwipjihlno(rwoswh{
[GF>kH@P)Af@G)g@)PA:)C@9H@G)A@:l)sei
es)AgA)9JG@)tø:H@)AC=)v@G:­
GFJG@)Q@Gg@:H@>@:)G9@f@:) oder) A

]GP9:RA)ç9C9û
oin(l(jisnP(l(kinin(sgó(wis(kip(Qnrîïji(kip(Òwipjihlnoin(rlj(kiv(amjnsjgóin(
snj(Xilhjgói(oièmvvin(wsnJ(Ugó(wsn(isoinhîsgó(kin(aiîioin(vsh(=@9)@=(sn(kip(
Òwipjihlno( snj( Xilhjgói( nrgóoiornoin( lnk( rnjgóîsi—ink( nrgóoijgórlhP( rj(
ksi(Ynhjñpigólnoin(krumn(sv(amjnsjgóin(jsnkJ(ais(kiv(Ãwipsioinkin(Qnhisî(
ksijip(aiîioi(èmnnhi(nmgó(isnvrî(ksi(Ynhjñpigólno(kij(kilhjgóin(ümnnièhmpj(
=@9)@=(lnk(kip(wmjnsjgóin(^rphsèiî(PARAG(òijhoijhiîîh(ipkinJ(Rióp(snhipijjrnh(sjh(
rwip(krj(òmîoinki(aisjñsiîP(rlò(krj(sgó(vsh(wijmnkipiv(Xplgè(ósnisjin(v“góhiJ(
Yj(órnkiîh(jsgó(lv(isnin(Rrh(rlj(ürprórjrnj(Ujhmêns(ksurn¥P(kipP(nrgó(visniv(
YpvijjinP(vshósîòi(umn(=@9)@=)snj(Xilhjgói(jióp(ipòmîopisgó(Ãwihproin(mpkin(sjh{(
Ä9E@) =@l) kABGAQFl) :9W>A) 9PACF) Q9HE@>9)
FH) =APF;) BFX@>RA) E@G) :9) :A) E@H:FP)
>9E@CF)f9)F):E9JF­
QFE)=PG>9)PF;CF)G@û9)f9CF)W>As)Ä9)E@H­
:@)F;G@fF>9:@l):9):AEPA:E@)GA:9b@l :9)
E@H:F;)k:ARA kolik FX:9)H9QA:P(HMâ
`P) jG=)k) H9@) RC@9:=>@)
_)@9:)ç@9bJ@:l)9bJs
((¨HKã
R…C9R(spk(sv(`ìiênsè(ópurhjèmor(ìisèrø(¨HMMM(rîj(isn(Qkuipw(wijgópsiwinP(
krj(lv(Qljkplgè(umn(Òwipprjgólno(lnk(ailnkiplno(Ãwip(isni(ôinoi(mkip(
isni([p“—i(ksinhJ(Qlgó(sv(`iênsè(jpñjèmópurhjèmor(ènìsëiunmo(ìisèrø(¨KIIã{(
âäå(spk(ksijiîwi(ôisnlno(uiphpihinJ(Un(arpsí(ih(rîJ(¨KIIâ{(HäK(spk(R…C9R(sn(
kip( [plññi( kip( snhippmorhsuLpiîrhsuin( ^pmnmvsnr( wiórnkiîhP( ksi( rîj( cipènÃñL
òlnoj“phip(ksininJ(Xsijip([iwprlgó(umn(R…C9R(jgóisnh(vsp(nsgóh(oinÃoink(ipL
òmpjgóh(mpkin(l(jisnP(kinn(sgó(wsn(kip(ôisnlnoP(krjj(ksi(wijgópsiwinin(cipL
inklnoin(ósip(nsgóh(rnoiinkih(ipkin(è“nnin(lnk(krjj(ij(jsgó(ósip(lv(isni(
cipoîisgójñrphsèiî(órnkiîhJ(Xrj(wiisjh(rlgó(jisni(v“oîsgói(Ypjihlno(klpgó(ksi(
èîrjjsjgói(cipoîisgójñrphsèiî(RAFJ
,1)-3*)43[-3§-1YbX1/
QnsíP(cJ(¨KIIã{(hE@X:9R)JGQA>=RF;A)E@k9RAJ(XplomP(kmñlnìinm(skrnìiJ(õropiw{(NOVI LIBERJ
arpsíP( YJ£ZmnêrpsíP( ôJ£ôrîsíP( XJ£^ruiésíP( RJ£^ihsP( ôJ£õiêiusíP( cJ£õnsèrP( ôJ( ¨KIIâ{(
tGQA>=RA);GAPA>9RAP(UUJ(ñpmvsìinìinm(skrnìiJ(õropiw{(öèmîjèr(ènìsorJ
iksíP( UJ£( drìkrpiusíP(dJ£( ürksíP( RJ£( üpémP(QJ£(crîìiurgP(WJ{( hE@X:9R)fF=A:=RF;) E@k9RA(
¨HMMâJ(Rrprìium{Unjhshlh(r(ìisèJ
DUDEN(^A=);GF¿@)_±G>@Gf

®YUWõYZ[ßW[Y`®(UW(XY`(XY\VRTdYW(R^`QTdY(\WX(XUY(JJJ
DUDENL`ikrèhsmn'¨ikJ(¨ãKIIä{(^9R)H@G)H@=bJ@:)j@;@:gAG>==BGAbJ@J(
ôrnnóisv£(Zisñso£(©sin£(õÃpsgóJ
DUDENL`ikrèhsmn'¨ikJ(¨âHMMå{(^9RJ(arnk(§J((ôrnnóisv£(Zisñso£(
©sin£(õÃpsgóJ
´lèrnmusíP( eJ£( YnoiîP( \J£( ôprmusíP( ^J£( ^mñrksíP( dJ£( sîihsíP( õ"# mMLJen\# YF:>GA=>9Q@)
jGAPPA>9Rs)^@=bJra@GfFRGFA>9=bJl(óoJ(umn(\J(Ynoiî(lnk(^J(ôprmusíP(Wmus(RrkJ
YnoiîP(\J'ÖKIää{(^@=bJ@)jGAPPA>9RP(diskiîwipo{([pmmjJ
YnoiîP(\J(¨HMM§{(^@=bJ@)jGAPPA>9RJ(WilwirpwishlnoJ(ôÃngóin{(;F;:;OF6(cipîroJ
drnjinLümèmpléP( `J£( ôrhiésíP( eJ£( ^iêlpLôisksnoipP( õJ£( õnsèrP( ôJ( ( ¨HMMå{( ÄE@PAXRFr
JGQA>=R9)9RA)fF=A:=RF;)E@k9RAJ(õinsgrJ
ürhsêsíP( `J( ¨HMMH{( a9:>AR=A) JGQA>=RF;A) R:E9@Q:F;) E@k9RAP( hpiíiP( ñmwmîìérnm( skrnìiJ(
õropiw{(dpurhjèr(rèrkivsìr(nrnmjhs(s(lvìihnmjhsJ(Wrèîrkns(rumk([îmwljJ
^rjgóP(`J£(aprl—iP(\J£(apisnkîP(YJ£(©r—nipP(\J(dJ(¨HMMç{(tA:HfFG@:s)aipîsn£Wi(†mpè{(©rîhip(ki([plïhipJ
h@X:9R)=GB=RFJGQA>=RF;)R:E9@Q:F;))E@k9RA(¨KIãIJ(Wmus(Rrk£(õropiw{(679;O7#K8VKI7o67­
9;O7#A8>79KI7J
RsvsíP(`J(¨HMMH{(aGBA=RA);GAPA>9RA)`J(¨\umkP(òmnmîmosìrP(vmpòmîmosìrJ(aimoprk{(Wrlênm(
kpléhum(r(niomurnìi(s(ñpmlêrurnìi(jpñjèmo(ìisèrJ
RhiurnmusíP(ôJ(¨KIäã å {(aAQG@P@:9)=GB=RFJGQA>=R9)E@k9RP(aimoprk{(Wrlênr(ènìsorJ(
ömnìiP(eJ(¨oîJ(lpiknsè(¨HMMM{(hE@X:9R)JGQA>=RF;A)E@k9RAJ(õropiw{(B=IK;ID`87dKI;#C7>D:(
o9GF=CAQ)YGC@A(s(ŠKOLSKA KNJIGAJ
VrërèP(RJ£(arwsíP(RJ(¨KIIã{(jGAPA>9RA)JGQA>=RF;A)E@k9RAs)OG9G9R)H@G)H@=bJ@:)aBGAbJ@J(
aipîsn£(Wi(†mpèJ)
113

]GP9:RA)ç9C9û
=86;HI7#C;B;?
b=;HC=B`pH`=8b#;H#:=8#:=F9KOA=H#KV87OA=#
FH:#:;=#=H9KV8=OAFH`=H#;6#YDKH;KOA=H
.#FH9=8KFOA9#76#Y=;KV;=B#>DH#SEI ES ­
h@k9P@
a@9)@=)ìi(èmnièhmp(l(nìivrêèmv(ìisèl(èmìs(ji(l(vmpòmîméèmLjsnhrèjsêèmv(jvsjîl(ñmnrér(
kplorêsìi(niom(mjhrîs(èmnìlnèhmps(s(jlwìlnèhmpsP(hi(ìi(jrjusv(mñprukrnm(kr(ìi(rìiknm(jr(
ìmé(nièsv(èmnièhmpsvr(¨@=)=@9)H@::P(lpmênm(H@::P(A

II
R,)40)*R*'0Z&#0#R,)40)*'%&W0Z&#
B=j;ODBD`;=#=9#B=j;OD`87VA;=
B=j;ODBD`q#7H:#B=j;OD`87VAq
KKå

KKã

:D6H;N7#9D6=KOF#
,N-0a34X)'.-/'XZ0/'YZ00-3Y1*4_'*X`,*1/'
.*X/',NZXZ0*/)1?4-'3Z40*1X-'*Y)4-,,-
Wmhpi(pigóipgói(vih(in(îlvsqpi(îr(òmphi(sn¿lingi(thprnoqpiP(nmhrvvinh(rnoîrsj(jlp(îfmnmL
vrjhsúli(gmvvipgsrîi(pmlvrsniP(ksusjti(in(hpmsj(grhtompsij{(r(nmvj(kij(jmgsthtj(gmvL
vipgsrîij(ih(îilpj(thrwîsjjivinhjæ(w(nmvj(ki(ñpmklshj(gmvvipgsrl(ml(vrpúlij(ki(gmvL
vipgiæ(g(jîmornj(ñlwîsgshrspijJ(Zij(nmvj(ñpmñpij(gmvvipgsrl(ki(ñpivsqpi(grhtompsi(
ji(pivrpúlinh(ñrp(îilp(kïnrvsúli(rghliîîiP(úls(vqni(rl(pinmluiîîivinh(ki(îfsnuinhrspiP(
rkrñht(rl(wijmsnj(ki(îr(ptgîrvi(gmvvipgsrîi(ih(kl(vrpèihsno(vmkipniJ(Zr(ksuipjsht(
hïñmîmosúli( kij( ntmîmosjvij( mnmvrjhsúlij( gmvvipgsrl( ijh( rnrîïjti( rl( ksòòtpinhj(
nsuirl(snhipñpthrhsòj({(îr(ñpmuinrngi(¨rnoîsgsjvij(ñpmñpivinhLkshjP(nmvj(x(mpsosni(rvL
wsoÃiP( ñrp( iivñîiP( rnoîmLòprn·rsjiP( òmpvij( gmvñmjtij( óïwpskijP( ñjilkmLrnoîsgsjvijP(
ihgJ( îr( jhplghlpi( ¨nmvj( ñpmñpij( ktîisgrl( jsvñîijP( nmvj( ñpmñpij( ktîisgrl( gmvñmL
jtjP(nmvj(ñpmñpij(ktrgpmnïvsúlijP(nmvj(ñpmñpij(ktñóprjtmîmosúlijJ(Zij(nmvj(ñpmñpij(
ktîisgrl(ûinh(kij(hipvij(ki(górvñj(mnmvrjsmîmosúlij(ksuipj({(orjhpmnmvsiP(wsmîmosiP(
mmîmosiP( vïhómîmosi( ihgJ( Zfsn¿lingi( kij( rnoîsgsjvij( jlp( îfmnmvrjhsúli( gmvvipgsrîi(
pmlvrsni(svñîsúli(wirlgmlñ(kfrjñighj(jmgsmîmosúlij(ml(glîhlpiîj
oF>=)bCD=({(nmvj(gmvvipgsrlP(rnoîsgsjvij(mnmvrjhsúlijP(kïnrvsúliP(ksuipjshtJ
KJ( Wmhpi( gmvvlnsgrhsmn( ñptjinhi( ln( rjñigh( svñmphrnh( ihP( in( v”vi( hivñjP(
ñptmgglñrnh(ki(nmhpi(îrnoliP(gmnòpmnhti(rghliîîivinh(ruig(lni(uprsi(snurjsmn(kij(
rnoîsgsjvij(îisgrl(ih(mnmvrjhsúlijJ(Zfiñrnjsmn(snhipnrhsmnrîi(rghliîîi(ki(îr(
îrnoli(rnoîrsji(¨ï(gmvñpsj(rnoîrsji(rvtpsgrsni(ji(vrnsòijhi(rjji(hrpksuivinh(
krnj(îi(kmvrsni(kl(pmlvrsnP(vrsj(in(oronrnh(in(rvñîilp(x(grlji(kij(górnoiL
vinhj(tgmnmvsúlij(prksgrl(ih(ki(îfmluiphlpi(ki(îr(jmgstht(uipj(îfSggskinhJ(Tihhi(
òmpvi( ki( vrnsòijhrhsmn( ki( îr( oîmwrîsjrhsmn( îsnolsjhsúli( snúlsqhi( torîivinh( îij(
jñtgsrîsjhijP(îr(ñpijji(ih(îi(ñlwîsgP(in(kivrnkrnh(v”vi(lni(ktòinji(îtosjîrhsui(ki(
îr(îrnoli(pmlvrsniJ(Uî(jfrosh(kl(ñpmìih(ki(KIIâ(ki(îr(8F9)H@)CA)BGF>@b>9F:))E

KKä
^FP:9ãA)[FP@=bA9F:)H@)UP(rhhspinh(rhhinhsmn(ñrp(îilp(kïnrvsúli(
rghliîîiJ(Zilp(snuinhrspi(r(tht(pinmluiît(ñpijúli(in(hmhrîsht(krnj(îij(gmnkshsmnj(ki(
îr(îswtprhsmn(kl(gmvvipgiJ(Sn(pivrpúli(rljjs(îilp(rkrñhrhsmn(prñski(rl(wijmsnj(
ki(îr(ptgîrvi(gmvvipgsrîi(ih(kl(vrpèihsno(vmkipniJ(
HJ(Zij(gmngîljsmnj(ki(îfthlki(jlp(îij(nmvj(ñpmñpij(gmvvipgsrl(ivñplnhtj(
rl(pmlvrsn(¨Vmvijgl(HMMç(mnh(vmnhpt(îr(ñptkmvsnrngi(kij(òmpvij(thprnoqpij(
krnj(îfmnmvrjhsúli(gmvvipgsrîi(pmlvrsniP(îr(ksuipjsht(kij(îrnolij(svñîsúltijP(
îr( ñptòtpingi( ñmlp( îij( rnoîsgsjvij( ¨§IPçâ«( ih( îr( gmnglppingi( inhpi( îij( nmvj(
thprnoipj(ih(îij(nmvj(pmlvrsnjJ(Yn(ñpinrnh(gij(gmnjsktprhsmnj(gmvvi(ñmsnh(ki(
ktñrph(ki(nmhpi(ktvrpgóiP(mn(mwjipui(in(ñptjinh(lni(oprnki(ksuipjsht(hïñmîmosúli(
kij(rnoîsgsjvij(gmvvipgsrl(rnoîrsjJ(
Xi(ñmsnh(ki(uli(ktnmvsnrhsòP(îij(ñpmñpsthrspij(úls(rhhpswlinh(gij(nmvj(ñpmñpij(
jmnh(jmsh(kij(gmpñmprhsmnj(snhipnrhsmnrîij(ih(kij(thprnoipjP(úls(rññmphinh(îij(nmvj(
ki(îilp(îrnoliP(jmsh(kij(pmlvrsnjP(úls(kmnninh(kij(nmvj(rnoîrsj(v”vi(rl(pijL
hrlprnhj(hïñsúlivinh(pmlvrsnj{(UAbR=>A;@)gmlîsjjijP(in(gmlîsjjijøl)]:H)çF:@)
mni(ki(wlh(¨òmmhwrîîP(ki(ûnøl)UC)nlsh(wîili(£(hpsjhiøl)jG@@:)tF

ZfYô^`\WV(XYR(WSôR(TSôôY`TUQ\¢(QW[ZQUR(XQWR(ZfSWSôQRVU]\Y(JJJ
vsîsilP(ñqopiøP(rnoîJ(in(inøP(pmlvJ(@ñ9C(isîø(P([J@)CFi>)oA:=AGHA)¨(Ú(rnoîJ(CFi>(
opinsipP(ñsoimnnsipP(jmlñinhiøP(pmlvJ(PA:=AGHz(vrnjrpkiøJ(
Zij( nmvj( ñpmñpij( gmvvipgsrl( rnoîmLpmlvrsnj( jfrìmlhinh( rl( òmpvij( óïL
wpskij( snhipnrhsmnrîij( svñmphtijP( in( vrìmpsht( rnoîmLshrîsinnij{( ^G@AP) O9kkAl)
O9kkA) [9P@l) ^FP9:FI=) O9kkAl) vCe9:;) O9kkAl) cJ9bA;F) a>eC@) O9kkAl( ä@GGeI=) O9kkA(
ihgJ)¨gmvñmjtij(ki(nmvj(gmvvlnj(rnoîrsj({(HG@AP(p”uiøP(>9P@(hivñjøP(HFP9­
:F(ìilP(u”hivinhøP(qe9:;(umîrnhP(úls(umîiøP(pijñighsuivinhP(ki(nmvj(ñpmñpij(
rnoîrsj(ml(rvtpsgrsnj({(cJ9bA;Fl(ä@GGe)ihgJ)ih(ki(nmv(gmvvln(shrîsinP(kiuinli(
snhipnrhsmnrîP(B9kkAJ(Sn(inpiosjhpi(ñîlj(prpivinh(kij(òmpvij(óïwpskij(rnoîmLòprnL
·rsjij{(^@I89;J>)¨îr(oprñósi(kl(vmh(rnoîrsj(H@C9;J>(ìmsiP(ñîrsjspø(jlsh(îi(vmkqîi(
kij(gmvñmjtj(òprn·rsj(ruig(îr(ñptñmjshsmn(H@P(8A)[AQ@G:@)aPAG>)(¨îi(nmv(gmvL
vln(òprn·rsj(>AQ@G:@(ijh)úlrîsût(ñrp(îfrkìighsò(rnoîrsj)=PAG>)gósgP(tîtornhøihgJJ)
Uî(òrlh(nmhip(rljjs(kij(nmvj(pmlvrsnjP(gmvvlnj(ml(ñpmñpijP(úls(ji(ûinh(krnj(
îfmnmvrjhsúli( gmvvipgsrîi( ruig( îfrggpthsmn( ki( îfrphsgîi( ktûns( rnoîrsj( ih( krnj(
lni( oprñósi( ( gmppmvñli{( [J@) j

KHM
^FP:9ãA)[FP@=bG) ) rnoîJ( BAGC9AP@:>) ñrpîivinhøP) aB9b@) ) rnoîJ( =B9b@) tñsgiP( ¨ûoJ( ñsL
vinhøP)[GAi{b) )rnoîJ(>GAi{b)hprûgP(gspglîrhsmnøl([g9b@)) )rnoîJ(>g9b@)kil(òmsjP(
kmlwîiøihgJ(ml(rl(ñîlpsiî({(hFFP=( )rnoîJ(GFFP)górvwpiøP(hFF>=( )rnoîJ(GFF>)
prgsniP(ûoJ(mpsosniøihgJ(((
( w(kij(nmvj(ñpmñpij(gmvñmjtj(sjjlj(ki(nmvj(gmvvlnj(jsvñîijP(kmnh(
îi(kilsqvi(ijh(ln(vmh(pmlvrsn(kfmpsosni(rnoîrsji(¨x(kmlwîi(ñpmnmngsrhsmnP(rnL
oîrsji(ih(pmlvrsniP(úls(ktjsoni(îr(jñtgsrîsht(ki(îfthrwîsjjivinh({(bC

ZfYô^`\WV(XYR(WSôR(TSôôY`TUQ\¢(QW[ZQUR(XQWR(ZfSWSôQRVU]\Y(JJJ
89F:)(îsmn(pmløP)[J@)8@i>)tA:H)(îr(vrsn(orlgóiøP)[J@)a9CQ@G)cJ)A:;@C=)nmlj(
ni( jmvvij( ñrj( kij( rnoijøP) [g9b@) eFF:)ihgJ(Zr(hprnjñmjshsmn(kij(
nmvj(ñpmñpij(kflni(gîrjji(mnmvrjhsúli(x(îfrlhpi(jfingrkpi(krnj(lni(vmki(mnmL
vrjhsúliP(úls(vrnsòijhi(îr(hinkrngi(kfrghlrîsjip(kij(ktnmvsnrhsmnj(x(ptòtpingi(
ósjhmpsúli{(_A>@GCFF)[AQ@G:@l)[GAiAC;AG)O9@=l)_J9=B@G=lJ(
Sn(inpiosjhpi(lni(uprsi(vmki(kij(otnshsòj(rnoîrsj{)]HeI=)cCI=l)^G@AP@GI=l)aJ@G9iiI=l([sçsI=)cF>>F:))cCD( kij( ktnmvsnrhsmnj(
thprnoqpij(krnj(îfmnmvrjhsúli(pmlvrsniP(sî(ijh(ntgijjrspi(ki(vinhsmnnip(wpsqL
uivinh(îfósjhmspi(ki(gij(nmvj(kmnh(îfljroi(nfijh(ñrj(ptginhP(îr(jlggijjsmn(kij(
KHK

^FP:9ãA)[FP@=b@C)HI)]@C)UGFi>l)tF>@C)t@C)H@)vGA:b@)¨KäãMP(jGA:H)tF>@C)H@)UF@C)]Ce=D@P(cAiD)H@)CA)OA9ñl)aA:=raF

ZfYô^`\WV(XYR(WSôR(TSôôY`TUQ\¢(QW[ZQUR(XQWR(ZfSWSôQRVU]\Y(JJJ
3dLd3-XY-/
dœpvœP( elórns( ¨HMMMJ( bpingó( wljsnijjLnrvij( sn( gmnhivñmprpï( bsnnsjóJ( Un{( Z:FPA=­
>9RP(TR>@:)H@=)Å•s)`:>@G:A>9F:AC@:)YF:;G@==)ièG)ÄAP@:iFG=bJA)`>AC9A:A)H9)Z:FPA=>9bAP(UUU(¨HP(åMKLåKâJ
ümîîtgrP(emórnnr(¨KIIäJ)Qññiîîrhsmnj(thprnoqpij(ki(jrîîij(ki(ksuiphsjvinh(ih(kfthrwîsjjiL
vinhj(orjhpmnmvïúlij(kl([prnk(QhóqnijJ(Un(OGFb@@H9:;=)Fi)>J@)§`§>J)`:>@G:A>9F:AC)
cF:;G@==)Fi)Z:FPA=>9b)ab9@:b@=P(QwipkiinP(Qloljh(§LKKP(Qwipkiin{(a^TLQ\^(ZhkP(
KâILKäåJ
^ihpiP(ôsórs(¨KIIMJ(Vmñmnsvsr(lpwrnƒJ(Qjñighi(îsnousjhsgiJ(Un(a>9bzP(cP(
TîlìP(HMçLHMIJ(
RipsrnnsP(Zlgr(¨KIâäJ(Wmvs(kfrîwipoósJ(Un(89:;GAP(¢¢¢U¢P(åãLãHJ(
VmvijglP(Xmvnsr(¨HMMçJ(bmpison(wljsnijjLnrvij(sn(ñpijinhLkrï(`mvrnsrn(mnmvrjL
hsgjJ(Un(RîrvrLTrrgl(¨ikJP(8A)CA:;)C@=)BAGCA:>=s)8A:;=)FG99P(algrpijh{(Qpusn(^pijjP(KãäLKâãJ(
Xmvnsr(Vmvijgl
bS`YU[W(a\RUWYRR(WQôYR(UW(^`YRYWVLXQ†(`\ôQWUQW(SWSôQRVUTR
a

KH§

K>=9B7H7#9F:AGe( HMMMJ 1 ( Wrsus( svrìl( uiîsèl( lîmol( l( skinhsûèmurnìl( ñpmsumkrP( ñr(
èmvñrnsìi(rhm(ñmjuiílìl(uiîsèl(ñrënìl(nìsómumv(jhurprnìlJ(Sns(jl(jñigsûêns(
ìip(ìi(nìsómu(rkrhrè(ni(jrvm(kr(svinlìlP(niom(s(kr(mñsél(jrv(ñpmsumk(rhm(
éhm(nr(mjnmul(nìsó(èlñrg(kmwsìr(mjnmunl(snòmpvrgsìl(m(ñpmsumklJ(õwmo(hmor(jl(
nrsus( èmvihsêèsó( ñpmsumkr( nrìêiéíi( mñsjnmo( èrprèhiprP( nñpJ( jAG:9@G) cC@A:)
À)aFi>)cFPBC@>@)^F

KHã
aQ@>CA:A)ä@G9:9û
ji(jrjhmìi(s(hps(èmvñmninhiJ(^pul(èmvñmninhl(êsns(nrsu(ñpmsum⁄rêrP(mknmjnm(
èmvihsêèi(èlíiP(èrm(éhm(ìi(jAG:9@G(s(ompnìio(ñpsviprJ(Xplor(ìi(nrsu(îsnsìi(
ñpmsumkr(¨cC@A:)À)aFi>P(r(hpiír(mñsjns(kim(èmìs(omumps(m(èrèumv(ji(ñpmsumkl(
prks(¨cFPBC@>@)^FFGP(DNAge)]e@)cG@AP)¨Ä9Q@AJ(Surèus(nrsus(mkprërurìl(uiíl(èpirhsunmjh(s(
ñps(nìsómumv(jhurprnìl(èmpsjhi(ji(humpwins(ñmjhlñgs(èmìs(loîrunmv(nsjl(piolîsjrns(
humpwinsv(ñprusîsvrJ(U(ñpihómknsó(ñpsvipr(ji(usks(kr(l(murèui(nrsui(ñmnièrk(
jhmìs(s(kmkrhns(mñsjP(r(krîìr(rnrîsr(ñmèrríi(kr(jl(hrèus(nrsus(s(jhumpins(nr(nrêsn(
kr(éhm(wmîìi(mñsél(ñpmsumk(s(hsvi(ñpsulèl(èlñgiJ
Urèm(ji(hps(èmvñmninhi(nrsur(vmol(ìrjnm(proprnsêshs(s(rjiwnm(rnrîssprhsP(
nrìñpi(ji(vmprìl(ñmjvrhprhs(èrm(giîsnrJ(Vrèm(ìi(Ä9Q@A)Zñe;@:)OFg@G(h@Q9Q9:;)
^Ae)cG@AP(ìiksnjhuinr(giîsnr(s(jrvm(hrèur(ñpikjhruîìr(nrsu(ìiknmo(ñpmsumkrJ(
\(mumv(prkl(íi(ji(r(nrsu(èrm(giîsnl(lñmhpiwîìrurhs(hipvsn(vrèpmLnrsuP(r(r(
ñmìiksnrêni(èmvñmninhi(vsèpmLnrsuJ(Vpiwr(ìmé(sjhrís(krP(wi(mwspr(nr(hm(éhm(ji(
vrèpmLnrsu(jvrhpr(ìiksnjhuinmv(giîsnmvP(s(vsèpmLnrsu(jiP(l(mkomurprìlíiv(
èmnhièjhlP(vmëi(èmpsjhshs(jrvmjhrînm(kr(mnrês(gim(ñpmsumkP(hi(ji((vsèpmLnrsu(
Zñe;@:)OFg@G(vmëi(èmpsjhshs(lvijhm(vrèpmLnrsur(Ä9Q@A)Zñe;@:)OFg@G(h@Q9Q­
9:;)^Ae)cG@APJ
`ikmjîik(piês(l(nrsusvr(ni(vmëi(ji(vinìrhs(wmo(hmor(éhm(jl(jhplèhlpi(èmìi(
ñpikjhruîìrìl(nrsui(ñpmsumkr(sksmvrhsmurniP(hi(jhmor(ni(vmëivm(piís(Zñe;@:)
OFg@G(Ä9Q@A)h@Q9Q9:;)^Ae)cG@AP)sîs(Ä9Q@A)Zñe;@:)OFg@G(^Ae)h@Q9Q9:;)cG@APJ(
Wrsu(ñpmsumkr(òlnègsmnséi(èrm(ìiknr(piê(s(jhmor(vmpr(sjñlnìrurhs(èpshipsìlv(
lnlhprénìi(jhrwsînmjhs(piêsJ(ürm(éhm(ji(l(mèuspl(piês(ni(vmëi(vinìrhs(pikmjîik(
vrnìsó(ìiksnsgr(mk(piêsP(hrèm(ji(ni(vmëi(ñpmvinshs(pikmjîik(kiîmur(vrèpmLnrsL
urP(rîs(ns(pikmjîik(piês(l(mèuspl(vsèpmLnrsurJ(UñrèP(ñmjhmìi(sligs(r(hm(s(m(nìsvr(
íi(wshs(omumpr(l(mkiîìèl(çJKJ(XrîìiP(nrsu(vmpr(sjñlnìrurhs(s(ljîmu(ñmèpihîìsumjhsP(
éhm(nrês(kr(jrvm(èrm(giîsnr(vmëi(vinìrhs(jumìi(vijhm(l(piêinsgsP(hi(ìi(vmolíi(

VcS`aYWU(^SRV\^TU(\(WQõUcUôQ(üSõôYVUüUd(^`SUõcSXQ(WQ(JJJ
piís{(`)gA:>)>F)f)`)gA:>)>F)f)`)gA:>)>F)f@ñ>fFFR(
¨Zìlno(HMMç{(KHKJ(^mpik(svinsêèsóP(arlip(¨KIäç(nrumks(ìmé(s(ñpskiujèiP(nñpJ(
=

KHä
aQ@>CA:A)ä@G9:9û
niñpmspni(s(r(nìsómul(snhipñpihrgsìl(ñmhpiwnm(ìi(ñmnrurnìi(urnìisêèi(jhurpL
nmjhsJ( Wiñpmspnmjh( vmëi( wshs( lpmèmurnr( ñpmvinmv( nrêinìr( uií( ñmjhmìiísó(
èmvñmsgsìrP(nñpJ(J@AHJ@G(¨®mni(óm(pigplshj(iiglhsuij(òmp(r(îrpoi(gmpñmprL
hsmnf(¨arlip(KIäç{(ãçP(rîs(s(lñmhpiwmv(ñpinijinsó(sîs(jlëinsó(nrêinìr(ñps(jrvmì(
humpwsP(nñpJ(gA9>G@==)PFP(¨®r(mvrn(óm(sj(jhplooîsno(hm(wpsno(lñ(óip(òrvsîï(sn(
r(îm(sngmvif(¨Rhmìsêsí(HMMã{(çKJ(ôi⁄lhsvP(èrèm([sioipsgó(¨HMMã(ñpsviílìiP(s(
jîmëinsgi(vmol(wshs(ñpmspni(éhm(ji(usks(l(ñpsvipl(bFAbJ)HG9Q@GJ([sioipsgó(¨HMMã(
sjhsêi( krP( rèm( ji( l( mwsp( lsvrìl( ompinruikins( èpshipsìlvsP( ni( ñmjhmìs( nsìiknr(
èrprèhipsjhsèr(èmìl(ñmjiklìl(jui(jîmëinsgiP(r(èmìr(ji(ni(vmëi(ñpmnrís(wrp(èmk(
nièsó(jsnhrovs(s(wmo(hmor(ji(mn(mèpiíi(rnrîss(jhplèhlpi(®svinsgr(¡(svinsgrf(s(
jivrnhsêèsv(mknmjsvr(lnlhrp(jîmëinsgr(s(jsnhrovs(èrèm(ws(só(proprnsêsmJ
Wrsus(èmvihsêèsó(ñpmsumkr(ji(l(uiîsèmv(wpmìl(jîlêrìiur(nrîri(nr(oprnsgs(
svi⁄l(jîmëinsgr(s(jsnhrovsJ(^ps(mkpi⁄surnìl(nìsómumo(jhrhljr(l(mumv(prkl(niíi(
wshs(èîìlêns(òmnmîméès(èpshipsìlv(wmo(nìiomui(nikmumîìni(ñmlkrnmjhsJ(ijhm(ns(
jrv(jivrnhsêès(èpshipsìlv(niíi(vmís(kr(prìrjns(nikmlvsgi(m(jhrhljl(musó(nrsur(
s(hm(ñmnrìuséi(wmo(hmor(éhm(jl(nrsus(èmvihsêèsó(ñpmsumkr(uimvr(jñigsûêni(
ñpspmkiP(r(éhm(só(jhruîìr(l(ñmjiwnl(èrhiompsìl(svi⁄l(jsnhrèhsêèsó(s(îièjsêèsó(ìiksL
nsgrJ(üpshipsìlv(nr(mjnmul(èmìio(íi(ji(jîmëinsgi(mkurìrhs(mk(òprnsó(svinsgr(l(
mumv(prkl(wsíi(nìsómur(jhplèhlprJ(Rîmëinsgrvr(íi(ji(jvrhprhs(jhplèhlpi(èmìi(jl(
nrjhrîi(jîrornìiv(kui(svinsgiP(r(ñmk(òprnsv(svinsgrvr(íi(ji(ñmkprlviurhs(
jhplèhlpi(®ñpskiur(¡(svinsgrfJ
Vsñsêrn(ñpsvip(nrsur(s(èmpñljr(èmìs(ìi(nrjhrm(jîrornìiv(kui(svinsgi(¨vsèL
pmLnrsu(ìi(muki(mnrêini(ñmîlvrjnsv(jîmusvr(ìijhi(oAef@CC9:@)Œ)Lash Discoveryœ)Œ)o9:9rUG)¨®¢(jhïîij(îrjófJ(Wr(mjnmul(hmorP(vmëivm(
rèîìlêshs( kr( ji( muki( prks( m( jîmëinsgrvr( l( èmìsvr( ñpur( svinsgr( svr( òlnègsìl(
kmñlni(kploi(svinsgiJ
Rhplèhlpr(®ñpskiu(¡(svinsgrf(ji(l(inoîijèmv(ìisèl(ìruîìr(èrm(jsnhrovrP(nñpJ(
f@A9igAG@(¨arlip(KIäç{(HMIJ(\(èmpñljl(ñmjL
hmìs(nièmîsèm(nrsur(jr(mumv(jhplèhlpmvP(r(hsñsêrn(ñpsvip(ìi(oAef@CC9:@)Û(Mineral
PowerÙ()Û(ÄA>9:;)89?

VcS`aYWU(^SRV\^TU(\(WQõUcUôQ(üSõôYVUüUd(^`SUõcSXQ(WQ(JJJ
jiovinhr(urnìisêèi(jhurpnmjhs(8(r(prîsèl(mk(mjhrîsó(îièjivrP(hrèum(svi(vmëi(kr(
jrkpës(vrnìi(sîs(uséi(sprëini(iîivinhi(mñsjrøJ(Uvrìlís(murèul(kiûnsgsìl(l(usklP(prL
lvîìsum(ìi(kr(ñmìiksns(nrsus(èmvihsêèsó(ñpmsumkr(svrìl(mwîsè(òprnsó(îièjivr(
ìip(jîlëi(r(svinmurnìi(jiovinrhr(urnìisêèi(jhurpnmjhs(s(mñsjnmo(jl(èrprèhiprJ(
Mineral Powerœ)ÄA>9:;)89?

KçM
aQ@>CA:A)ä@G9:9û
mwîrjhs(moîrérurnìr(s(l(nrsusvr(prîsêshsó(ñpmsumkr(¨]lsnsmn(KIIäJ(Surì(prk(ji(
wrus(®nrvipnsv(èmn¿rgsìrvrf(¨inoJ(snhinhsmnrî(wîinkj(ñméhm(nrsus(èmvihsêèsó(
ñpmsumkr(nrjhrìl(jr(nrvipmv(kr(ji(ñpmsumks(svinlìlP(r(prîsèl(mk(jîlêrìnsó(
èmn¿rgsìr(¨inoJ(rggskinhrî(wîinkj(èmìi(nrjhrìl(ninrvipnmP(èrm(mvréèi(l(omL
umpl( ¨[psij( HMMHJ( Wiès( mk( nrìrnsvîìsusìsó( nrsur( èmvihsêèsó( ñpmsumkr( s(
mwpr⁄inmo(èmpñljr(pilîhrh(jl(mumo(humpwinmo(ñmjhlñèrJ(
oAef@CC9:@)Œ)Shiny­licious®)Œ)89B)jCF==)(nrsu(ìi(jìrìr(r(ljniP(èmìs(ji(jrjL
hmìs(s((giîi(ñpui(s(rknìio(kiîr(kploi(lîrni(mjnmuiJ(Yîivinh(LC9b9F9F:AGe( ¨KIII( krìi(
nrêinìi(®nrhlprî(îsèsno(òmp(mp(rhhprghsmn(hm(r(ñipjmnP(hósnoP(skirP(ihgJf(Surèusv(
nrsusvr(nrjhmìs(ji(ñmèrrhs(kr(ñpmsumks(èmìs(só(nmji(êsni(ljni(¨89B{:9>eP(nmèhi(
¨ÄA9C{:9>e(s(îsgi(¨vAb@{:9>e(ñpsuîrênsvJ(ürm(s(l(ñpsvipl(aJ9:erC9b9F

VcS`aYWU(^SRV\^TU(\(WQõUcUôQ(üSõôYVUüUd(^`SUõcSXQ(WQ(JJJ
ìi(ñpur(mjnmur(l(ñmhñlnmjhs(jrêlurnrP(kmè(ìi(èmk(kploi(mkwrêin(nìin(ñpus(jîmoJ(
Wmui(îièjivi(jl(svinsgiP(èrm(éhm(jl(s(mjnmui(mk(èmìsó(jl(nrjhrîiJ(Yîivinh(L{:9>e)
ni(ñmèrlìi(hmîsèl(hinkingsìl(ìruîìrnìr(l(nmusv(îièjivrvr(èrm(iîivinh(LC9b9F9bR,)oAñvAb>FG)Œ)Lash Lift(Û(oA=bAGA(s(oAñvAb>FG)Œ)Mastertouch'Û(cF:b@AC@GJ
OhZr[ZrjZ)nrsu(ìi(plër(r(ljni(èmìs(ji(vmëi(mhumpshs(ìiknmv(plèmv(ìip(ji(
ñmèîmñrg(ni(jèskr(uií(ji(plë(mhurpr(èîsrnìivP(r(nrsumv(ji(sjhsêi(kr(ji(plë(vmëi(
èmpsjhshs(s(l(ñmèpihlJ(õr(murì(nrsu(ìi(vmolíi(kr(ìi(nrjhrm(rnrîmosìmv(jr(jhplèhlL
131

aQ@>CA:A)ä@G9:9û
prvr(èrm(éhm(ìi(bFii@@)>F);FP(r(iîivinh(BGF(ìi(uipmurhnm(lñmhpiwîìin(jr(nrêinìiv(
®òmpfP(vrkr(ni(hpiwr(sjèîìlêshs(ns(vmolínmjh(kr(ji(prks(m(rwpiusìrgsìs(mk(îièjivi(
BGFi@==9F:AC(¨èmvihsêèi(èlíi(êijhm(sjhsêl(kr(ji(lñmhpiwmv(nìsómusó(ñpmsumkr(
ñmjhsël(ñpmòijsmnrîns(pilîhrhsJ(
8A=J)C9i>(ìi(nrsu(r(vrjèrpl(èmìmv(ji(ñmksël(hpiñrusgiP(r(nrjhrm(ìi(rnrîmosL
ìmv(ñm(lmpl(nr(jîmëinsgl(iAb@C9i>(èmìmv(ji(mnrêrur(ñîrjhsênr(mñiprgsìr(rhiL
rnìr(¨ñmksrnìrø(èmëi(îsgr(èrèm(ws(mnm(soîikrîm(vîr⁄iJ(^pivr(hmviP(vmëi(ji(
rèîìlêshs(kr(murèum(mwìrénìinìi(ñmhñrkr(ñmk(lëi(nrêinìi(rnrîmosìi(s(kr(ìi(mnm(
muki(ñpsèîrknsìiJ(Vrèm⁄iP(vmëi(ji(piís(kr(murì(nrsuP(mknmjnm(nmumnrjhrîr(piê(
nsìi(kim(ìisêèmo(jsjhivrP(rîs(hm(vmëi(wshs(lèmîsèm(ñmjhrni(jsjhivrhjèr(ñmìrurJ(
R(kploi(jhprniP(jrvr(êsnìinsgr(kr(mur(piê(ñmjhmìs(èrm(nrsu(ñpmsumkr(nrês(kr(
ìi(mnr(nr(niès(nrêsn(ljhrîìinrP(wrp(l(piosjhpl(èmvihsèiP(éhm(urës(s(r(jui(mjhrîi(
nrsui( ñpmsumkrP( hrèm( kr( mns( s( l( jvsjîl( ljhrîìsurnìr( l( ìisèl( êsni( jñigsûênl(
èrhiompsìlJ
oA=>@G>F@GB9@b@(sîs(PA=>@GgFGRJ(ümpièhmp(ìi(èmvihsêèm(jpikjhum(èmìi(ñpièpsL
ur(nikmjhrhèi(nr(èmësP(r(murèru(nrsu(jloipséi(kr(ji(lñmhpiwmv(mumo(ñpmsumkr(
ñmjhsël(slihns(pilîhrhsP(mknmjnm(kr(îsgi(mjmwi(èmìr(èmpsjhs(murì(ñpmsumk(îsês(
nr(pivièLkiîmJ(\(èmpñljl(ñmjhmìs(ìmé(ìikrn(nrsu(nrjhrm(nr(jîsêrn(nrêsn(8(Qumn(
Û(Foot Works |)ZQ@G:9;J>)h@:@g9:;)vFF>)cG@APJ(ümk(mumo(ñpsvipr(lmêîìsu(ìi(
kplorêsìs(nrêsn(ñsjrnìrP(nrsviP(iîivinh(gFGR=(nrjhlñr(èrm(mkumìinr(piêJ(`rîmo(
r(hm(vmëi(wshs(ëiîìr(humprgr(nrsur(kr(hsv(iîivinhmv(rjmgsprìl(nr(oîromî(gFGR(
wmo(hmor(éhm(ñpmsumks(s(mui(îsnsìi(jîlëi(r(niol(jhmñrîr(èmìr(jl(lvmpnrJ(
uO'/)34{)43*')3-¨-'{Z0aZX-X)-'X*§1[*'{Z§0-)1¢{1b'
a3Z1§[Z.*
KçH
uOlO'Xo|JnJ'@'}FôJEo'zKAEFHJñ}oqJôo'FzJD@ôA'poEAp@'zKFJ|nFHo
Vpiír( èmvñmninhr( nrsur( uipmurhnm( ìi( s( nrìurënsìr( rhm( éhm( mnrêrur(
ñmìiksnrêrn( ñpmsumk( s( wmo( hmor( ìi( ìiksnjhuinrJ( ürèm( ìi( uií( ñmvsnìrnmP( nrL
su(èmvihsêèi(èlíi(ñpus(ìi(kim(jurèmo(vrèpmLnrsurP(r(nrsu(îsnsìi(ñpmsumkr(
ñpihómks(jurèmv(ñpmsumkl(s(hi(îsnsìiJ(
^m(jhplèhlpsP(uiísnr(nrsur(ñmìiksnrênsó(ñpmsumkrP(èrm(s(uiísnr(nrsur(îsnsìr(
ñpmsumkrP(òprni(jl(svinsgi(ìip(jl(pirîsmurni(èrm(jsnhroviP(r(l(ñmoîikl(òlnèL
gsìiP(jrkpësni(s(lñmhpiwi(ñmnrérìl(ji(èrm(îièjiviø(¨^písíP(KIIâ{(KHãJ(õr(prîsèl(
mk( vrèpmLnrsurP( èmìs( vmpr( sjñlnìrurhs( ljîmui( giîmushmjhs( jhplèhlpiP( ñmèpihîìsL
umjhs(s(lnlhprénìi(jhrwsînmjhs(piêsP(hpiír(èmvñmninhrP(mknmjnm(nrsu(ñmìiksnrênmo(

VcS`aYWU(^SRV\^TU(\(WQõUcUôQ(üSõôYVUüUd(^`SUõcSXQ(WQ(JJJ
ñpmsumkr(ni(vmpr(luiè(sjñlnìrurhs(sjhi(ljîmuiJ(Vm(ji(ñmjiwnm(mknmjs(nr(pikmjîik(
piês(l(mèuspl(nrsurP(èmìs(ji(ñmnièrk(vmëi(vinìrhsJ(
\(jîikiísv(nrsusvr(êsns(ji(vmolísv(ñpmvinshs(pikmjîik(nièsó(mk(èmnjhshlL
inrhr{(T:>9r_G9:RC@)v9GP9:;)^Ae)cG@AP)aOv)Å°)¨Ä9Q@A(sîs(v9GP9:;)T:>9r_G9:RC@)
^Ae)cG@AP)aOv)Å°æ(oF9=>9ra>A>9b)aBGAe(¨TQF:(sîs(T:>9ra>A>9b)oF9=­
>9rT;@9:;) UG9;J>@:9:;) [F:@G(¨jAG:9@G( sîs( UG9;J>@:9:;)T:>9r
T;@9:;)[F:@GJ
`ikmjîik( èmnjhshlinrhr( vmolíi( ìi( ñpmvinshs( l( mèuspl( ñpivmksûèrgsìi( jr(
jhplèhlpmv(®ñpskiu(¡(ñpskiuf(rhm(éhm(mwr(èmnjhshlinhr(svrìl(ìiknrèl(urënmjh(s(
vmol(ñmìiksnrênm(kr(vmksûèlìl(svinsgl(èmìr(ji(nrîrs(nr(jrvmv(èprìl(nrsur(
¨T:>9r_G9:RC@)^Ae)cG@AP,)v9GP9:;)^Ae)cG@APJ(UñrèP(vmpr(ji(svrhs(l(uskl(kr(jl(
nrsus(èmvihsêèsó(ñpmsumkrP(ljîmunm(piêinmP(sksmvrhsmurni(jhplèhlpi(s(m(vinL
ìrnìl(pikmjîikr(èmnjhshlinrhr(ji(omumps(jrvm(èrm(m(vmolínmjhs(kr(ji(hm(lêsnsP(r(
kr(ji(ni(ñpmvins(nrêinìi(jhplèhlpi(èrm(giîsniJ(
Wrsus(ñmìiksnrênsó(ñpmsumkrP(nr(ñpus(ñmoîikP(nrjhrìl(órmhsênsv(omvsîrnìiv(
piêsJ(UñrèP(vmol(ji(suijhs(mkpi⁄ins(mwprjgs(èmvwsnmurnìrJ\(nrsul(ñpmsumkr(
ñmjîiknìi(vijhm(mwsênm(rlsvr(svinsgr(èmìr(mnrêrur(upjhl(ñpmsumkr(s(omumps(
nrv(kr(îs(ji(prks(m(èpivrvrP(ñlkipsvrP(vrjèrprvrP(shkJ(õrupénr(svinsgr(vmëi(
wshs(vmksûèmurnr(prîsêshsv(jhplèhlprvrP(èrm(éhm(jl(ñpskiusP(òprni(svinsgi(sîs(
jîmëinsgiJ
Wiès(mk(nrsur(èmìs(jrkpëi(jhplèhlpl(®ñpskiu(¡(svinsgrf(jl{(TQF:)|)THQA:b@)
[@bJ:9?GA89i>)|)Anti­Wrinkle
Firming Day Cream(s(Ä9Q@A)Œ)Zñe;@:)OFg@G)Œ)Reviving Cleansing GelJ(\(jurL
èmv(mk(nruikinsó(nrsur(ñmìiksnrênsó(ñpmsumkr(suikins(ñpskiu(mñsjlìi(pilîL
hrh(èmìs(ji(ñmjhsëi(lñmhpiwmv(ñpmsumkr(mnrêinmo(ñmjîiknìmv(svinsgmv(l(nrL
sul(¨®wrîv(vrèij(hói(órsp(DEFFGtfP(®gpirv(vrèij(hói(jèsn(ñKEf'®oiî(vrèij(hói(
jèsn(qBAopfJ(\(musv(nrsusvr(hinkingsìr(ìi(kr(ñpskiu(jr(jlûèjmv(Ling(kspièhnm(
ñpihómks(ñmjîiknìmì(svinsgs(èmìr(mnrêrur(upjhl(ñpmsumkrP(rîs(ìi(vmolíi(rvinL
shs(pik(piêsJ(Sur(hinkingsìr(nsìi(moprnsêinr(jrvm(nr(ñpskiui(jr(nrjhruèmv(LingP(
èmìsó(svr(nrìuséi(l(vmksûèrgsìrvrP(uií(ji(mknmjs(nr(jui(ñpskiui(èmìs(vmksûèlìl(
ñmjîiknìl( svinsgl( l( nrsulJ(VrèmP( l( nrsul( Oil­Control Translucent Pressed
Powder(¨oAef@CC9:@(ñpskius(mñsjlìl(nrvinl(ñpmsumkr(¨®ñpijjik(ñmkip(gmnL
hpmîj(msîfJ
R(kploi(jhprniP(ñmjhmìi(nrsus(èmìsP(lvijhm(ñpskiurP(jrkpëi(kploi(jhplèhlpiP(
mknmjnm(òprni(svinsgi(s(jîmëinsgiP(jr(sjhmv(òlnègsìmv(mñsjr(pilîhrhr{(jAG:9@G)
|)cC@A:)À)vG@=J)|)Clean Feel _A=J(s(TQF:)|)T:@g)¥C>9PA>@)Û(Age Repair Ä9;J>)
cG@APJ( ^pus( nrsu( vmëivm( hlvrêshs( èrm( ®rjó( hórh( vrèij( ïml( vAAB' qBAopfP( r(
kplos(®nsoóh(gpirv(hórh(KAzoJKD'oxAf(sîs(®nsoóh(gpirv(hórh(vrèij(ïmlp(jèsn(îmmè(
ïmlnoipfJ(\(jurèmv(jîlêrìlP(nroîrjrè(èmk(musó(nrsur( ìi(mñih(nr(pilîhrhsvr(
133

aQ@>CA:A)ä@G9:9û
èmìs(ji(ñmjhsël(lñmhpiwmv(ñpmsumkrJ(Xplosv(piêsvrP(nrsus(jl(jhumpins(hrèm(kr(
mñsél(hi(pilîhrhiP(r(mñsjsurnìi(ji(ñmjhsëi(lñmhpiwmv(prîsêshsó(mwprrgr(èmvwsL
nmurnìr(vrnìsó(ìiksnsgr(l(mèuspl(nrsurP(l(mumv(jîlêrìl(òprnsv(svinsgrvr(s(
jîmëinsgrvr(èrm(vmksûèrgsìrvrJ(
ürkr(ji(omumps(m(ñpmvins(pikmjîikr(èmnjhshlinrhr(ñpivmksûèrgsìiP(jshlrgsìr(
ìi(kplorêsìr(mk(ñpivmksûèrgsìr(jr(kur(ñmkìiknrèm(urënr(ñpskiurJ(\(nrsusvr(
Soothing Sensation)[F:@GP(Moisture Infusion)cC@A:=9:;)_A>@G(s(Color Reviving)
cF:H9>9F:@GP(nsìi(vmolíi(ñpmvinshs(pik(piês(l(mèuspl(ñpivmksûèrgsìi(ìip(ñpus(
iîivinh(vmksûèrgsìi(mkpi⁄lìi(kplos(iîivinhP(r(rìiknm(vmksûèlìl(rupénl(svL
insglJ
uOmO'Xo|JnJ'}Fô'DoHKòA'JEApJqA'Do'oxApGJnpJE'D@ñ}DFE'íAK
ciîsès(wpmì(nrsur(s(èmpñljr(jrkpëi(svinsgi(jr(roinhsunsv(jlûèjmv(L@GP(nñp{(
TQF:)Û(T:@g)cC9:9bAC(Û)89i>)A:H)[C@)oAR@r)A:H)[

VcS`aYWU(^SRV\^TU(\(WQõUcUôQ(üSõôYVUüUd(^`SUõcSXQ(WQ(JJJ
ürm(rèîìlêrè(ji(vmëi(piís(kr(ìi(rûèjrgsìrP(mknmjnm(jlûèjrgsìrP(èrm(humpwins(
ñmjhlñrè(urënr(r(hpiíl(èmvñmninhl(nrsur(s(kr(ìi(kmkrurnìi(roinhsunmo((jlûèjr(
L@G(nr(mjnmui(humpwinm(ñprusîm(jr(usjmèmv(vmpòmîméèmv(ñpmklèhsunméílJ
,1)-3*)43*
KJ(öhrvñrns(sumps
arlipP(ZJ(¨KIäçJ(]:;C9=J)_FGHrvFGPA>9F:J(Trvwpskoi(\nsuipjshï(^pijjP(TrvwpskoiJ
arlipP(ZJ(¨KIääJ(`:>GFHeJ(Trvwpskoi(\nsuipjshï(^pijjP(TrvwpskoiJ
eijñipjinP( SJ( ¨KI§HJ( T) oFH@G:) ]:;C9=J) jGAPPAG) F:) t9=>FG9bAC) OG9:b9BC@=J) OAG>) V`Ç)
oFGBJFCF;eJ([impoi(Qîîin(rnk(\nsnP(ZmnkmnJ(ôlnèjorrpkP(TmñinóroinJ
ZìlnoP(ôJ(¨HMMçJ(oAR9:;)_FGH=)9:)]:;C9=JJ(RhlkinhîshhiprhlpP(ZlnkJ
ôrpgórnkP(dJ(¨KIãIJ([J@)cA>@;FG9@=)A:H)[eB@=)Fi)OG@=@:>r^Ae)]:;C9=J)_FGHrvFGPA­
>9F:Ç)T)ae:bJGF:9br^9AbJGF:9b)TBBGFAbJ)¨Hnk(ikshsmnJ(TJ(dJ(aigèP(ôÃngóinJ
^îroP(UJ(¨HMMçJ(_FGHrvFGPA>9F:)9:)]:;C9=JJ(Trvwpskoi(\nsuipjshï(^pijjP(TrvwpskoiJ
^písíP(VJ(¨KIIâJ(a@PA:>9RA)9)BGA;PA>9RA)G@X9J(Ukrurêèr(ènìsërpnsgr(õmprnr(RhmìrnmusírP(
Rpivjès(ürpîmugsP(Wmus(RrkJ
^písíP(VJ(¨KIIäJ(¥^psîms(r(ìiknl(jrupivinl(himpsìl(humpwi(piêsøJ(jFH9W:EAR)v9CFkFi=RF;)
iAR@>A)J@)à>J)`:>@G:A>9F:AC)OGA;PA>9b=)cF:i@G@:b@J)VFCJ)ÉJ(Unhipnrhsmnrî(^provrhsgj(QjjmL
gsrhsmnP(Qnhipñ{(§âML§äMJ
^písíP( VJ( ¨HMMKJ( QoinhsunmjhP( roinhsuni( svinsgi( s( èrhiompsrgsìr( ñlhiv( ñpmhmhsñrøJ(
jFH9W:EAR)vFCFkFi=RF;)iAR@>A)@HAG=RA)RF:i@G@:b9EA))))A:;C9=>9XR9J)
RA>@HG9)Ä9W)ÉååÑs)çfFG:9R)GAHFQAs(bsîmmòjès(òrèlîhihP(WséP(HMMâ{(§âLååJ
RhmìsêsíP(cJ(¨HMMãJ(oFGiFCFWR9)BF=>@GA­
>

aQ@>CA:A)ä@G9:9û
`iênsgs{
dmpnwï(QJ( RJ( ¨ikJ( ¨HMMåJ( ZñiFGH)THQA:b@H) 8@AG:@GI=) ^9b>9F:AGeJ( â hó ( ikJ( TXL`SôJ(
Sòmpk(\nsuipjshï(^pijjP(SòmpkJ
`rnkmvP(dmlji(KIIIJ(hA:HFP)tF@GI=)¥:AfG9H;@H)^9b>9F:AGeJ(çpk(ikJ(TXL
`SôJ(`rnkmv(dmljiP(Wi(†mpèJ
o@GG9APr_@f=>@G) ^9b>9F:AGeJ( ¨HMMMJ( ôippsrvL©iwjhip( UngJSnîsniJ( óhhñ{££JvippsL
rvLiwjhipJgmvJ
îrngs{
TmmèP(cJ(¨HMMãJ(v>G9f9F:)9:)]:;C9=J)A:H)>J@)H9=>9:b>9F:)f@>g@@:)BJGA=@=)A:H)
bFPBF@G9=>9b=)Fi)]:;C9=J)PFGBJFCF;9bAC)fC@:H=J(óhhñ{££JîsnL
olsjhsgjJlgjwJikl£òrglîhï£jhopsij£pijirpgó£aîinkj TZRçäJñkòJ
[psijP(RJ(¨HMM§J(aJF)9>)f@)fG@ARiA>9Q@)A:ACe=9=)Fi)fC@:H)=>GAGe)]BF:eP=J(óhhñ{££JñprspsinihJmpo£ıpèprlji£
wprnkjJóhvîJ(
]lsnsmnP( ôJ( ¨KIIãJ( ¥[JGFJ@) UC@:H@GøJ( óhhñ{££JmpîkskimpkjJmpo£rphsgîij£
wîink£óhvJ(UGA:HJ(óhhñ{££inJsèsñiksrJmpo£sès£wprnkJ
UGA:H)ÄAP@)cG@A>9F:Jóhhñ{££JèiinwprnksnoJgmv£wprnk nrvi gpirhsmnJóhvJ(
UG9>A::9bA) Z:C9:@) ]:bebCFB@H9AJ( óhhñ{££JwpshrnnsgrJgmv£Yagóigèik£hmñsg£§MHHH§£
nrviJ
vFG@9;:)fGA:H9:;J(óhhñ{££inJsèsñiksrJmpo£sès£bmpison wprnksnoJ
ÄAP9:;{)[J@)PF=>)9PBFG>A:>)fGA:H9:;)@C@P@:>J(óhhñ{££JjsonrhlpijhprhiosijJws£WrvL
sno£nrvsnoJóhvîJ
[GAH@):AP@J(óhhñ{££inJsèsñiksrJmpo£sès£Vprki nrviJ
Kçã

VcS`aYWU(^SRV\^TU(\(WQõUcUôQ(üSõôYVUüUd(^`SUõcSXQ(WQ(JJJ
K>=9B7H7#AfC@)cF:b@AC@G)¨oAef@CC9:@J(Vói(pirjmn(òmp(hósj(grn(wi(òmlnk(sn(hói(nrhlpi(mò(
ñóprjrî(nmlnj(ósgó(rpi(ljik(hm(nrvi(rnk(kijgpswi(jiovinhj(mò(ihprLîsnolsjhsg(pirîshïJ((
Vói(vmjh(òpiúlinh(mpkLòmpvrhsmn(ñpmgijj(snumîuik(sn(nrvi(òmpvrhsmn(sj(gmvñmjshsmnP(wï(
ósgó(inkmginhpsg(gmvñmlnkj(shó(jhplghlpi(®nmln(¡(nmlnf(rpi(vmjh(gmvvmnîï(òmpvikP(
iJoJ(Lash Discoveryœ)o9:9rUGFGJ(Sn(hói(mhóip(órnkP(ñóprjrî(nmlnj(órui(hói(jhplghlpi(®rkìighsui(¡(nmlnfJ
Qîhómloó(wîinksno(sj(r(uipï(ñmñlîrp(virnj(mò(òmpvsno(ni(mpkj(sn(YnoîsjóP(r(piîrhsuiîï(
jvrîî(nlvwip(mò(nrvij(òpmv(hói(gmpñlj(rj(gpirhik(sn(hósj(rïP(jmvi(mò(hóiv(wisno(
DNAge(¨Ä9Q@A(s(L3MN;3OP'¨oAñvAb>FGJ(Vósj(grn(wi(iñîrsnik(wï(hói(òrgh(hórh(hói(nrvij(
niik(hm(wi(kijgpsñhsui(inmloó(rnk(wîinksno(grn(îirk(hm(wrji(rwwpiusrhsmnP(ósgó(gmlîk(piL
jlîh(sn(hói(nrvi(nmh(wisno(hprnjñrpinh(sn(virnsnoJ(Vói(nrvij(órui(jñigsrî(jhrhlj(sn(hipvj(
mò(îisgrîsjrhsmnP(rj(iîîJ(Vóiï(rññirp(mn(hói(ñpmklghj(rnkP(hóipiòmpiP(hóiï(rpi(rggiñhik(
rnk(ljik(wï(hói(jñirèipj(mò(hói(îrnolroiJ
Un¿lingik(wï(ihprLîsnolsjhsg(òrghmpjP(hóiji(òmpvrhsmnj(órui(r(jñigsûg(jhplghlpiP(ósgó(
órj(nmh(wiin(jlòûgsinhîï(kirîh(shó(jm(òrpJ(Vósj(ñrñip(òmgljij(mn(hói(nrvi(òmpvrhsmn(
ñpmgijjij(sn(hói(ûiîk(mò(gmjvihsgjP(ósgó(jómlîk(wi(òlphóip(irvsnik(rnk(gmvñrpik(shó(
nrvi(òmpvrhsmn(sn(mhóip(rpirjJ(
Y@e)gFGH=k((mpk(òmpvrhsmnP(mpk(òmpvrhsmn(ñpmgijjP(nrvi(mò(gmjvihsg(ñpmklghjP(sksL
mvrhsgshïJ
Ruihîrnr(eipsnsí
Sö(Xlérn(eipèmusí¥P(Un⁄sìrP(Rpwsìr
iLvrsî{(juihîrnrnrÀïrómmJgmv
Kçâ

Kçä

&(Q,R)&#R&S0T
eVQ]"'V\P!TP\'S$"#TfTQR"VR\'PeVSe$\'e'
Sec"\ge'S\P!SQU"'!$h!PT'$\"VT!S"'e'
!$\#gQ&'ÆPQVT
0@(y(OC(Ñ(ÇC?(FÇ;(B@(>(@?(ÇN(Cz(=>Ñ(FÑ(}>(Ç@=(?>(y;(?NL
|@(DC(O;( A@( ;Ç(?(ÖC(O;( A>(Ö@(zC(?@Ç(F?C( >( ?Nz(ÇN((=C( -@(}BC( >( A@( >Ñ( ;:(Ö@L
F=>(O;(zC?(F>}(?;O(E(}N(D>(A@(ÖC(;B@(?@B(y;(FÇN(y@?(
=@Ö(y(?z@A(=>(Ö>(@(ÇN(O@(}C(àC(FÇ@((ÖCE(?à>(GCB(=;E(ÇC?(FÇ@(y@(F@(O>O(Ç>O(y(NFz;B(@((ÖN(?à>(GCB(=;E(AC(z@J
ëï4N)'%)"%)N#Ç(zC?(F>(?;(z;(E>(Ö@P(zC?(F>(?;(E(Ö@P(|?;z(F?>(?(y>(F~@P(z>=(EB;(?Nz(ÇNL
(Ö@P(Nz;(E@(O@(}B@=(F?;E(?Nz(ÇNO(
FO(}>(Ç@=(?@(O@(:;E(=C(y;(=@(B@(à@(FC(O@=(Ç>(?C(zC?(F>(?C(>(ÇL
~>(;(=@z(=C(?Nz(ÇN((O@(y>(F@(~@(>(KIJ(BC(?@J(
6C(>?( @(N(>(O@( F(|àC( OC(FÇ;( N( y(GCB(=;E( AC(z@( ¨6;L
B>D(KIâå{§J(+(FÇNy(?à>(GCB(=;(FÇ>(y(ÖC(>(?@(;y(?à>(GCB(=C(y;(Ö@(BC)¨4@(Ç>(}>D(
KIäã{KHHJ( 4;(OC=(Ç@((|N(D>( z>=(EB>(FÇ>}(?C( ;F=;(BC( =@(N(?C( ;( ?à>(GCB(=;(FÇ>( "J(
4@(Ç>(}>D( >F(?@(N(ÖC( FB;(ÖC( NBC(}(?>( F@(A( A;(}@((GCB(=;E(AC(z@(;FÇB@((B;Ç(=;O(>F(?N(FÇBN(FB>Ñ(N}C(F=>(?@(
¨4@(Ç>(}>D(KIäã{KKâJ(+;(|Ç;(?à>(GCB(=;(AC(z;(y(y@(A@(ÖC(>}(?;Ö(NOCÇ(=;(FÇ>P(?;L
OC=(Ç@(GCB(=;E(AC(z@(Ç(Ç@(;(~N(A@(;O;(EN(D>(|Ç;(Ç@}(=>(ÖC((?@(AC(z@P(@(@?;(ÖC(AC(z;(=@(FÇ@(z;(N(yP(y;(Ç(>(
CBC=(ÇN(@z(=;(?@(F=>(ÖC(y(=>Ñ(ÇC(=@(?@;(>)}>(àC(=>L
~C(y;(z>(Ç>}(?C(>(?Nz(ÇNFÇ;((ÖC)?;(ÖC(FC(Fy;(O>(àN(N(AC(zNP(B@(G=C(@(àC(E;(B;(
K( ( *=(?C(Ç@(ÖC(Fy((y(=@(Ç(~>(;(=@z(=N(
?Nz(ÇN((ÇN(@(~>(Ö@(=>(ÖC(:>(z@(:;(Å@(=>(?@(A@(ÖC(>F(y>(Ç>(B@(=;(KK(Oz@(A>Ñ(y

K§M
“'3%*/()æ(2#
( A@( >Ñ( }>(Ç@(z@~( y;(=@(ÖCP( ?@;( =y(Ñ(|D@=(F?C(?Nz(ÇN((FzJ(
#(=C(y;(F(O@(F=(~@(N(?Nz(ÇN((=CJ(
å( ( 3@(A(=>(FN(y(>(P(=>(Ç>(ÖC(=@(FÇ@B(=>(?N(y;(=N(C(=;(?;((F=;(NyNÇ(FÇB;(@(;:(}(?C(;:z@(FÇ>(F@(?;(Ö;O(FC(y(yNÇ(N(FB;(OC((zC?(F>(?;(z;(E>(ÖC(>AC(N(y(z;E(ÇC(>(A@(ÖC(;A@B(=;(Ç(?CP(ÉN=?(~>(;(=@z(=>(ÖN(|?;(zN(>(?B@(z>L
ÇCÇ(=>(Ö>(=@(FÇ@B(=>(y(~>(?à>(GCB(=;E(ÖC(>(?@(@(FÇN(yÅC=(ÖC(F@(O;(N(}>L
Ç@=(?@(O@(@(y

#1'2*(1.43,4.(%"*!,Ü,'0*10.(4#1%#".(#(%#-*°./#(%.43%'&*(JJJ
0@(|>(AC(F?y(Ç>B(=>((~>(O;(EN(:>(Ç>(>(B;(?N(Ç(~>(;(=@z(=C(?Nz(ÇN((@=@(z>(;O(zC?(F>(?C(Ç(~>(;(=@z(=C(?Nz(ÇN(( >( >( =;(B>(Ö>Ñ( ÇC(;(Ñ( >F(Ç(B@(à@P( ?;(Ö@( ?;(=;(Ç@(Ç>B(=N( FC(O@=(Ç>(?N(
FO@(Ç(Ö;O(;A(AC(=;(Ç@(Ç>B(=CP(ÖC=(É;(ÖN(
¨(FÇ>z(F?NP(Ny;(Ç(=>(~C{)ì%)'5).().#)-4)4)0#)"%/.)'56),%)2#)-()õ#),5.)'#$)#-)/4)-.,5$)
+5),5")'#)/(l)6%")7"%0)-.(),ï()64),%)24)#2)$%)34)6%)2#)/()#)-.,(")'5)-.#)¨!(DC(B>D(
HMMâ{ãMJ(0;(B>P(?Nz(ÇN((OC(Ç;A(y;(ÇB;(FC(N(=@(FÇ@(B>(FÇÑ(ÖC(>(?@J(
3Ç(Ö@(ÖC(É;(F@(=@(?@;{(/4*).4)"()75)-"%0)-.,5$)6%)2#)/(l)6%)2#/)75)-"%0r
-.,5$)/4*).4)"%¥(>(y(?@(>=(?Nz(ÇN((Ö;OP(NFB@(Ö@(àCO(
}>(àC(=>(~@(=@(~>(;(=@z(=C(?Nz(ÇN(Å(=@(FÇ@(BC(ÖC(>(?@P(
@(~C(z;(?N(y@=(;:(y(A;(OC(Ñ@(=>}(?>Ñ(
?(ÇC((Ö@P(=C(E;(y;(?@(N(ÖC(FÇB@((}>D(KIäã{(KHäJ
141

K§H
“'3%*/()æ(2#
%>y(?Nz(ÇN(O(ÇC?(FÇ;(B@(;A(?;(Ö>Ñ(FN(=@ÖL
Oz@(>(=@(FÇ@(z>(N(AC(BCÇ(=@(C(FÇ;O(BC(?N(FÇ(=@(FÇ@B(=>(~>(O@(>(N}C(=>(~>(O@æ(
Ç@ÖP(Ç>y(?Nz(ÇN(J(0C(O@((ÖC(?à>(GCB(=;E(AC(z@P(
=@((Ç;(FÇ@((ÖCE(=@(FÇ@=(?@P(:C(ÇN(O@(}C(à@(y;Ö(O;B(=;E(FBC(Ç@J(1C?(F>(?@(Ç@(?B>Ñ(
AC(z@P(=@Ö(O=;(E;(:(Ö>Ñ(N(}>(Ç@=(?@(O@P(B(ÖC(y(àC(=@(FCL
O@=(Ç>(?@( BC(@(=@( ÖC( @( @}(=>( Ç>y( ?Nz(ÇN(?( y( J(!@(:>(=@(|>(N}C(=>(~>P(y(y@A(=>(~>(F@(B(Ç@=(?C(y;(Ç(F@~(E;(B;(J(,@?;(FC(z>=(EB>(FÇ>(;:>}(=;(:@(BC(ÖC(>(?;OP(BÇ(=>(
N(;B;O(FzN(}@(ÖN(=C(ÖC(>}(?>(CzC(OC=(Ç>J()@(y;(ÇE(=@Ç(P(@z>(>(à>(Ñ;(BN(ÉN=?(~>(ÖN{(?@(?;(>(N(?;(ÖCO(FO>(FzN(=@(FÇ;L
ÖC(NÇ>(~@(Ç>(=@(FzN(|@(;(~@(¨)EN(FÇ@(KIIK{§KJ(6CFÇ;(BO(:;(z>(
B@=(ÖC(>}(?;E(FBC(Ç@P(|Ç;(ÖC(AC(F>E(=@(Ç>B(=@(ÉN=?(~>(Ö@P(@z>(F@(A(FÇ@B(E;(B;(?;B(?;(Ö>O(FC(GC(z>(NÇ>(~@(Ç>(=@(FzN(|@(;(~@J(
+;(|Ç;(ÖC(ÇC?FÇ(>(B;O((~>(O@(ÖC(>(?@(y>(F@(~@P(?@;(
>(N(;y>(F=>O((~>(O@P(A@(FC(=C(:>(;FÇ@(z;(N(y;(=@(Ç;O(?(Ç>(B@(àC( G>(B;E( =@(( ÇC?L
FÇ@(}>(Ç@=(?C(=@Ö(:;(Å>(>(:;(?C(BP(y(?CJ("C}(=>?(@(|?;z(F?C(y;(Ç(:>(zC?(FC(ON(
AC(É>(=>(F@;( y( y;(A@(~>(O@( F@( ÇC(;(:>(N(=@(FÇ@(B>(y(OC(=N(A>(A@?(Ç>}(?>Ñ(y=(~>(y@(y;(FÇNy(=;(FÇ>(>(;}>L
EzCA(=;(FÇ>(¨!C(|>D(KIäK{KãHLKãçJ(!O((O@P(FC(O@=(Ç>(?@(Ç(~>(;(=@zL
=C(zC?(F>(?C(>(AC(z@(z;(?@z(=;E(y>(F~@(>(FÇ@=(A@(ÖC(>?(NFB@(Ö@(z>(:>(FC(y(GCB(=;E(AC(z@(y(:z>(G>;(>(=@(FÇ@B(=>(?N(>(N}C(=>(?N((:>;(CE(C(ECÇ(F?>(?(@(|?;z(F?N(Ny;(Ç(?z;(yC(A>Ö(F?>O(
AC(É>(=>(~>(Ö@(O@P(NÇC(OC(ÅC(=>O(=@(ÇC(O(>F(y>(Ç>(B@(à>(O@J(.=(~>(?z;(yC(A>Ö(F?C(
AC(É>(=>(~>(ÖC(yF(OC(FÇ@(FÇB@(B;(Ç@(>((=@(;AL
z>( @(:;(Ñ( y;(Ö@(B@J( 3C(O@=(Ç>}(?@( FÇ(?@( ;(
?Nz(ÇNAC=(Ç>(ÇC(ÇN(ÖCA(=C(ÖC(>}(?C(@(ÖCA(=>(~C(;A((O@(zC?(F>}(?>Ñ(ÖC(A>(=>(~@P(;:(Ö@(|à@(B@(
B@=(ÖC(>}(?>(FBCÇP(@(N(Ç;(OC(ON(y;(O@(GN(Fz>(?CP(Ç@(:C(zCP(~(>(FzJ(#(|?;z(F?;O(
(?N(Ç(?@(?;(Ö@(FC(;A(=;(F>(=@(Ç(~>(;(=@z(=N(
?Nz(ÇN(( ?Nz(ÇN( >AC=(Ç>(ÇCÇP( ?;(Ö@( O;(GC( y;(O;(D>( N( Ñ(
ÇC?(FÇ;(B@(>(NÔ(:C(=>}(?C(z>(ÇC(

#1'2*(1.43,4.(%"*!,Ü,'0*10.(4#1%#".(#(%#-*°./#(%.43%'&*(JJJ
"C}(=>?(=@(OC(àC=(A@(=@(|àCO(N}C(=>(?N(Ç(O@(ÖN(D>(N(
;:(>(NP(:C(NyN(D>(B@(à@P(@(
(J
#(;B;O((>((?@(zC?(F>(?C(>(@?(ÇN(Cz(=>Ñ(}>(Ç@=(?>(F(y(y;(BC(A@(?@(1@(C(1@(@((D@(¨!"),#)74.)-)5î%$)'()64)."%)&%(>(
L%).("P(y>(F~@(>(-@(}BCP(y;(z@(C(D>(;A(=@(}C(à@(?;(ÖC(;=@(>O@(N(Ç(~>(;(=@zL
=;Ö(?Nz(ÇN((-@(}BCP(|Ç;(ÖC(B}(?;(yO@(N(B>(AN(A@(FC(=@(}C(à@(N(;y(|Ç>O((~>(O@(=C(;A(=;(FC(=@(yF(y>(FN(ÖC(}(?@(E(}C(=@(O;L
END(=;FÇ(F@(EzC(A@(B@(à@(?Nz(ÇN(Ñ(BP(Ç(~>(ÖC(>(y;(L
?Cæ(zC?(F>}(?@(ÖC(A>(=>(~@(N(F@(B(?N(>O@(@?N(ON(z@(Ç>B(=N(ÉN=?(~>(ÖNJ(#(
;B;Ö(FB;(Ö;Ö(Nz;(>(ÖC(>?(AC(zN(ÖC(?@;(Fy;(=@(>(OC(N(O=;(E>Ñ(y;(?;(zC(à@(¨5N(E@(
KIIã{çIJ(#>(O@(ÖN(D>(N(;:(>(àC(=>(~N(A@(ÖC(0#)6()*%)/(.)-/()+"()3()sss75)./()'()
/5)656)-%)5î").(),()64)%.)'5)*#')+,#)-.#N)/#)75)0()î#)#)#2)/5)6%)-%)#2),*()N%)2()/ï4N)î#)
"%)*%),('.)'#)2()"4)"(*)'4)%.)'5)*#')+,#)-.#)/4)¨->(z;(D(HMMç{KKI(y;(?@(@(DCL
O;(:;(E@Ç(FÇB;(F@(=@(à@(F@(ÇC((~>(:>Ç(=;Ö(N(=@((Ö>(3(N(y(y;(BC(~>(y>(F~@J(%C(F(Ç(B@(àC(Ny;Ç(yN(àN(ÖC(y;(A@Ç(?C(>(A;(:>(Ö@(
FC(FC(O@=(Ç>(?@(NFz;(BÅC(=@(y(B>(AN(@z(=C(y;(Ö@(BC(N(1@(@((DC(B>O(yL
y;(BCÇ(?@(O@(>(@?(ÇN(Cz(=>Ñ(FÑ(}>(Ç@=(?>(N(;?B>((O@(;y(|Ç>Ñ(A>(Ö@L
zC(?@Ç(F?>Ñ(;F;(:>(=@(O@(}B@=(F?;E(E;(B;((A@(NBC((O;(}>(Ç@(;(~@(;B>Ñ(=(EB;(?Nz(ÇN((y;(FÇN(y@?(=@Ö(y(?z@A(=>(Ö>(@(ÇN(O@(}C(àC(zC?(F>(?C(Ç(~>(;(=@z(=C(?Nz(ÇN((}@(Ö>P(FÇ@((@(=@(Ç>(>(FzJ(y@(>Ñ(ÖC(=@Ö(y;(E;A(=>(ÖC(ÇN(O@(}>(Ç>(N(
;?B>(=(EB;(?Nz(ÇN((=>(F@(=@(FC(O@=(Ç>(?@(
zC?(F>(?C(FÇ@((ÖCE(?à>(GCB(=;E(ÇC?(FÇ@(y(NFz;B(@(@?(Ç>B(=;FÇ(
=@(}@(FN(>(FÇB@((Ç@(z@}(?>Ñ(=@(B>(?@(N}C(=>(?@J(+;(?@(@(DC(FC(Ç@(?;(C(A@(AC(z@(
NOCÇ(=>}(?C(z>(ÇC(

144
“'3%*/()æ(2#
y;A(z;(EC(>(FBC(A;(}>(;(y(NFz;(B@(G>(B;(Ç@(>(OC=(Ç@(z>(ÇC(Ç@J(%@(?;(=y(=;(=>O(F@(zC?(FC(O;O(50()6(P(?;(Ö@(ÖC(FzN(G>(z@(@(
:;(((?@(N(?N(D>(};(BC(?@(?;(Ö>(ÖC(>FÇ;(B;(>(O@Ö(FÇ;(
Ç(:>(z;(ÖC)5+)&#)M.%(>(=@(àC(ON(ÖC(O;(O@?(3Ç;(Ö@=(?@(@(?N(B@(àC(?@(ÉCP(@(@(Ç>O(
y(B@;(B;(A;O(@(|Ç@(ÖC(A;(:>(Ö@;(04)/().%(?@;('()756)'#)î4J(#(E@(A>(=;Ö(?N(D>(ÖC(
?@;(E(z@(ª4)"4)'()®ÇN(}@(=@(yCDf(¨zC?(FC(O@(FÇ(ÅN(A>(
=@(>(B@(ÖN)-5)$4')¨1@(>D(HMMM{KHIJ(#(FC(zN(FC(;:>}(=>O(A@(=>(O@(ÖC(z@(y(?;((FÇ>(z@(@(BC(Ö@(àC(y@(FN(Å@(>z>(G>(Ç@(>(>O@(z;(ÖN(ÖC(O@(z;(ÅN(A>(¨y;(A@L
Ç@?(F@(ÇC((àC(=>(~C(Ç(y(Ç>(
AC(Ç@Å(=;P(=y(àN( ($)í("( >( N(")0(/J(
#((?N(Ç(Ç>((?N(>(OC(N(/5)M(P(FÇ@(=(F?;E(}@(=>(ÖC(>FÇ;(|Ç;(
>(N(")0(/P(|Ç;(ÖC(FzN(}@Ö(N(&;Ö(B;(A>(=>(¨&N(?;(B>D(KIIM{äIP(=C(E;(ÖC(®E(Ç@((~@(N(z>(>F(yzC(ÇC(=@(
;A(y(;:(zC(yÅC(=@(:z@(Ç;Of(¨1@(>D(HMMM{HMJ(-C=(Ç@(z>(ÇCÇ(A>(=@(FB;Ö(y@=(A@=(N(}(?;O(:z@(EN(ÇC(@(ÖCA(=>(~C(
>(A;(B;(A>(A;((?@(N(=@(}C(àN(zC?(FC(O@(}@?(>(N(;A(=;(FN(=@(FN(FCA(=>(3(zC?(F>}(?;LFC(O@=(Ç>}(?;(z>=(EB>(FÇ>}(?;(>F(Ç(B@(àC(
CÇ(=;(E(F~@(O;(GC(y;(?@(@(Ç>(
/()/5)+5),5")'()2()6%0)'#)î()7%")î#)7#)"()-,5)64)04)µ5,)'4)#)$().%)"#)6(*)'4)/4*).4)"4)#)
/()/5)6%)6%)2#N)/#)ª5")$4)*#)M%)¨`ij(jiîP([P(`ij(jiîP(RJ(HMMä{åM§J(1C?(F>(?@(N(y(y;L
ä( ( 5

#1'2*(1.43,4.(%"*!,Ü,'0*10.(4#1%#".(#(%#-*°./#(%.43%'&*(JJJ
BCÇ(?@(O@(?;(Ö@(FC(;A(=;(F>(=@(?N(DN(A;(O@(DCE(ÖC(>(ÇN(:C(E@(B@(ÇN(Ö@z(=CP(A(
>FÇ;(Ö(F?C(;?B>((OC(=@(Ez@(|C(=;E(FyC(~>(É>}(=;E(z;(?@z(=;E(>(
B(NFz;(BÅC(=;E(?;(z;((Ç@(FzN(G>(FC(ÖC(>}(?>O(:z@(E;O(ÖCA(=;E(?(|@(:@}(?;E(Ç(@(ÅN(:ÅC(=;(FÇ>(>=(ÇC(zC?(ÇN(@z(~@(>((;(=@z(=>(
FOC(|Ç@Ö((B;(?@(:N(z@O(FC(;=(?;((FÇ>(F@(B>(F;(?>O(y(y;(BC(A@}L
?>O(FC=(>(:>(z>(ÇC(Ç;O(>(FÇ>(z>(FÇ>}(?>O(Fy;(F;:(=;(FÇ>(O@J(
,(zC?(F>}(?;LFC(O@=(Ç>}(?;E(y;(ÇC=(~>(Ö@(z@(>(@(ÑB@(ÅN(ÖN(D>(FÇ>z(F?>O(B(O@(CÇ(=;(EÑ(CzC(OC(=@(Ç@P(Ö@(F=;(ÖC(A@(;AC(D@(N?@(N(ÖC(=@(A(y;L
z;(G@Ö(z>(?;(B@P(A@(ÖC(FÇ@(ÇN(F=>(F>O(:;zP(A@(}@?(F>O(:;(z>(N(ÖC(@(yzCÇ(N(y(y;(BC(~>(
!"),#)74.)-)5î%$)'()64)."%)&%J(
+>(F@~(?@(GC{(’'l).6s)$56)5.(îl)'5)-#5)-%l)"(2)4)$%)-%l).4")-/#(¨ããJ('AC(B@(àC(
ÖC(:>(z;(@FyC?Ç(O@(ÇC((Ö@z(=;E(FÇ@(à@(y;((~C(>z>(y;(ÖC(A>=(~@P(;A(z>(?@(FÇ>(z@(
;AC(B@(à@(ÖCA(=;E(B=(?;(ON(=>(?@(~>(ÖC(F@(|>((~;OJJJP(>(=@(
?(=N(;AC(B@(à@(;EzC(A@;(FC(>(z>}(=>(CFÇCÇ(F?>(@É>(=>(ÇCÇJJJ(3(Ö@(ÖC(
:>(z@(?@(}(=@(y;((}>(Ç;(FÇ>(O@(;AC(B@(à@(JJJN?(FN(FC(NÇ>(~@(Ö>(
)@(y@(A@(>('(ÖC=(Ç@¥(¨0C(|?;(B>D(HMMK{KäåJ('Ç@~(>(y(y;(BCÇ(?C(1@(C(1@(@L
(D@(:>;(ÖC(|@(:@}(?>(Ç(?>(~;|(>(@(Ç;(ÖC((B;(|Ç;(FC(=;(F>;(
ÇNJ(!;?(ÖC(FC(;(F?@(=;(|à@(:>(z@(y(B;A(A;(O@(DC((=;(FÇ>P(;AC(DN(|@L
:@}(?;E(Ç(Ç((B@(zC(FN(ÇC(ÖC(;A(É@(:}(?>Ñ(Ç?@(=>(=@P(ÖC(:>(z;(A;(FÇNy(=;(¨&N(zC(Ç>DP(->(Ö@(>(z;(B>D(HMMå{äãJ(%@(?;(y>(F@~(
=@(B;(A>(=@Ö(B>(|C(AC(z;(B@(àC(E;(BC(;AC(DC{(í%)*()N()"()7(l)/5)M4)ï(l)/5)M4)ï%l)7()N(r
*4/l)7*#.)/%)î#)7%)*%l)7")-*4/l)4")0#)6(l)4")N%l)µ()ï#)'(l)µ()ï#)'%l)N(/)M#)"%l)N()"(r
7(l)N#)2$(l)%)$()0('l)4)í%s)
)=@(}C(àC(zC?(FC(OC(µ()ï#)'((A@(Ç;(N("-3(®;AC(D@(GC=(F?@(>z>(ON(|?@(?;(Ö@(FC(
=;(F>(y;(B(;AC(z;(N;y(|ÇC(¨1@(>D(HMMä{KIJ
)=@(}C(àC(Ö;|(ÖCA(=C(zC?(FC(OCP(>OC(=>(~C(/5)M4)ï%)Ç@(?;(C(ÖC(NBC?(N(O=;(G>(=>(
¨ñîhJP(O;(GC(A;(BC(FÇ>(A;(@(:N(=C(N?;(z>(?;(E@(=C(y(>((Ö>(?@(A@(FC(O@Ö(?@(Nyz@(|>(A@(DC(;Ç@~(FBC(yP(;=@(FC(B@Ö(?@{)6l).%)M/5)
$%)'#x)ì()%)-,%)M.5)#$()$5l)7()750)-.()"5-.)0()7%)"%$).4)3%)/5)M4)ï%x)¨ãäP(ã§J(
%(A@(FC(zC?(FC(O@(/5)M4)ï%);B(AC(Ö@(BÅ@(N(=@(}C(àN(®(F~>(@(>=(ÇC((FN(B>(|C(@(N(?N(ÇC?(y;(}CÇ(?;O(HMJ(BC(?@J
K§å

K§ã
“'3%*/()æ(2#
O;(GC((A@(ÖC(N(ÇC?(FÇN(Ñ(
FÇ@(=;B(=>(?@(¨5(Fz@B(1@(>D(>(+C(Çz;(B@(}C(KIKãJ(E;(A>(|ÇC(F@(=@(ÖC(O;(A@(FC(
N(AN(B@=(?C(FN(;A(z@(E@;(=C(F@(O;(AN(B@=P(=C(E;(>(FÇ@(=(F?>(yN(|@}(?>(y(:;(z; 11 P(?(Ç(A@(ÖC(Ç@(AN(B@=(?C(F@(:>(z@(F@(|>(BC(=@(;A(Ç?@(=;E(y(FC(A;(åML>Ñ(E;(A>(=@(=>(FN(yN(|>(zC(?N(y;B(=C(~>(E@((>FÇ>(?;=(ÇC?FÇ(N(zC?(FC(ON((í5)'5-s
)@(|Ç;(ÖC(B@(G@=(y(:;(FC(>F(y>(Ç>(B@(à>(O@(=@(ÇC((Ç>(A@(Ny(;AC(DCP(=@(?>ÇP(N?(>(FzJ(=@Ö(N(BC(B>(ÖC(
=@(Ez@(|@(B@(ÖN(FÇ@(ÇNF(Bz@(F=>(?@(y;A(Bz@(}C(D>(F;(~>(Ö@z(=C((?CP(|Ç;(>O(ÖCP(FCO(
Ny;(ÇÅJ(4C(F@(@(AN(B@=(->(Ç(z@(
ÖC(>(BC(C(=@(z@(Ç;O(>(>=(N(B@(O@J(°>(}@(Ü@(Ö;(¨HMJ(BC?(ÖC(y(y;(BC(A@;{(()04),(r
'(l)$()*()/%)-#)î()50)/")7%)-()M#),%)'(s)ö4)6%)/"%)$%')#)."40s)ÿ$()-,#.)&(/l)7()-%)
2().%+)'%l)7()4)%7)2A)75)6()-5$s)!()4)%7l)(/5)$5)õ%)0()-.()'%l)()(/5)'%)1),#)-#s)
ò#)-4)4/"()M(),()'%l)50)6@0'5õ#N(l)7")ï(),%l)6(0)'%Ü)'#)/(0)-%)'%)7@"4J(
#(F@(O;(ABC(1@(@((DC(BC(y(y;(BCÇ(?C(=@(:(FO;(KâH(zC?(FC(OC(@(;=@L
}@(B@(àC(y;Ö(O;(B@(?;(Ö>(FC(;A(=;(FC(=@((E>(ÖNJ(0@(Fy>(F?N(ÇCÑ(=>}(?>Ñ(F?L
11( ( 3?>(~@(;E(à>(z@(=@(z@(>(FC(N(1@(>D{(HMMäJ
KH( ( 7(FC(>FÇ>(?;=(ÇC?FÇ(>(1@(@((DC(BC(y(y;(BCÇ(?C(@(zC?(FC(OC(04),(')/%)-((>(3#')34),({(!50)
75)6(-)750),4)N%)'(l)2*().5$)#)3#')34),()$()#2),%)2%)'()04),(')/%)-(J

#1'2*(1.43,4.(%"*!,Ü,'0*10.(4#1%#".(#(%#-*°./#(%.43%'&*(JJJ
~@(N("-3(=C(y;(FÇ;(Ö>(F?(~@(y(=>(~>(ÖC(y(?@(FN(}C(FÇ;(
=C(Ç@}(=CP(>O@(EÑ(OC(|@(àCO(F@((O;(?@(Ç;(z>}(?>O(?@(zC=(A@((
FzJ(@(Ny(?C(>(;BC(;:z@(FÇ>P(=C(DC(O;(FÑB@(Ç>(Ç>(@Ç(O;F(ÉC((yC(=@(?;(Ö>(O@(FC(ÇC(OC(Å>(O;((;B(AC(y;(?@(@(Ç>(?@;(ÖC(A>(=>(>(B;(=@((5-,%)%)'(),5)0()m4)î")/,#)2(),"%)$%)-*4)õí%n)'()K5r
+5)6(),ï%)&%l)/5)65$)-%)M/"5)7#)/4)()2í5+)20"(),ï()#)-"%)%)4/4)()'(s(1('=(A@(O@(Ç>(
NC(FN(ÑN(?>(ÇN(:;(F>(;(?@P(|Ç;(ÖC(FÇ@(Ö@(z@(@(>?;(=;OP(>(FÇ@(?zC=(~C(F(:;(E;(Ö@(BÅC=L
F?;O(B;(A>(~;OP(|Ç;(ÖC(B>(F>(z;(y;A(>?;(=;OP(y;(?B@(F>(;=;O(B;(A;O(:;(F>(Å@?P(y@P(
=C(|Ç;(|@(yN(DN(D>P(y(OC(F;(:NJ(¨âHP(ãä'
1C?(F>(?@(}>(Ö@(FC(FC(O@=(Ç>(?@(;A(=;(F>(=@(=@(Ç(=;L;:(~C(;?N(yÅ@(ÖN(D>(>Ñ(;?;(@(ÖCA(=>}(?C(Ç(~>(ÖC(>(=@(FzC(C(=;E(
F>(FÇC(O@(BJ(3@(B(@=(Ç(FO@(Ç(B>(z>(@L
~>(Ö@(O;(EN(;A(FÇO(y(A=(FÇB;(E(NEz(F?;(=@(}C(àC(y(:;(?C(N(F?z@(AN(F@(y;((?;(FC(NOC(N(;:(>(FN(=@(FÇ@(z>(N(KIJ(BC(?NP(y>(Ç@(àC(ÖC(?;(z>(?;(@(B>(}@Ö(=>(y>(F@~(O;(GC(:>L
Ç>(:z>(@?(A@(=@(|àCO(N}C(=>(?NJ(3ÇB@(F~@(>(F@(B(?@(=>(ÖC(
>FÇ@P(G>(B;Ç(=;(>F(?N(FÇB;(>O(FC((?N(ÖCJ("@(N(OC(B@(àN(ÇC?(FÇ@(y(B(=C(O@(?(~CJ(1@(@(D(ÖC(>=;(yzC(OC(=>?P(>FÇ;(O>(|ÅC(=>?(>(Ez@(F=;(E;(B;?(O;L
Ñ(y;(FÇN(z@(Ç@(Ç(F@(Ç>(y(y;(BCÇ(?N(N(
3(Ö>(KIJ(BC(?@(=@(}>(N}C(FÇB;(B@(Ç>(N(?à>(GCB(=;Ö(Ç(~>(Ö>J
1C?(F>(?@(N(y(y;(BCÇ(?@(O@(1@(C(1@(@((D@(y(FNÇ(=>O(N(=@(|>O(}>(Ç@=(?@L
O@(BB(=@(zC?(F>(?@(:>(z;(?;E(A;(:@(ÖC(;A(FÇ;(Ö(F?>Ñ(;?;z(=;(FÇ>P(y>(|}C(B;E(O>(F@(;(=;E(FBC(Ç@(>(y(B@(Ç>(A@(FC(B(@FyC?(Ç>(OC(à@(ÖN(
;FÇ@(BÅ@(ÖN(D>(y(~>(ÖC(>(?@J(-@((?@(
>(1@(@((DC(B>Ñ(y(y;(BC(A@(?@P(;=@(?;(Ö@(FC(N(BC(z>(?>O(;y>(F=>O((~>(O@(
F(?@(;:C(zC(G@(B@(?B@(z>(É>(?@(Ç;((O@(¨ÇN(>(~CP(@(O>P(>FÇ;((O>P(
K§â

“'3%*/()æ(2#
(;(=@(z>(O>(>(FzJ(>(;=@(?;(Ö@(ÖC(y;(=@(|CO(ÖC(>}(?;O(;FC(D@(àN(Ç@(?B@P(@(ÑB@zL
=@(ÖC(EÑP(>FÇ;(Ö(F?>ÑP(A>(Ö@(zC(?@Ç(F?>Ñ(>(ÇC(=;(z;(|?>Ñ(
(?@P(@(y;(Ç(~>(Ö@( :>(z@( @(OC(àC(=@( C=(~>(?z;(yC(A>Ö(F?;O( |Ç;( y;A(=(ÇC(F~>(yz>(=@(ÇC(;((ÖC(?à>(GCB(=;(FÇ>P(CÇ(=;(z>=(EB>(FÇ>(?CP(A(Ñ;(z;(E>(ÖCJ(!;(A@Ç(=>(FO>(F@;(F@(A(~>P(y}(?C(
?;(=;(Ç@(~>(ÖC(N(;A(=;(FN(=@(AC(=;(Ç@(~>(ÖNP(;O;(EN(D>;(:>(ON(A@(y;(FÇ@(=C(Fz>(?@(;A((y@(?Nz(ÇN((;(=@z(=N(?Nz(ÇN((A@(;O;(EN(D>(N}C(=>(?N(Ñ(ÇC?(FÇ;(B@(>(=@(|C(NÔ(:C(=>}(?C(z>(ÇC((F@~(y(z;(@(ÖCA(=>}(?;(y>(F~N(>(}>(Ç@(;(~N(N(B(E;(Ö@(|Ç@O(y@P(5>(:z>(;(ÇC(?@(¢¢(
BC?P(5C(;(E(E;(Ö@(|Ç@O(y@P(5>(:z>(;(ÇC(?@(¢¢(BC?P(5C(;L
EDP(2;

#1'2*(1.43,4.(%"*!,Ü,'0*10.(4#1%#".(#(%#-*°./#(%.43%'&*(JJJ
!(DC(B>DP("@Ö(=@(¨HMMâ(æ%/)-#)/5)*5)+#)6()-"7)-/5+)6%)2#)/(P()@(B;A(@(NÔ(:C(=>(?C(>(=@(FÇ@BL
=@(F(Ö@(¨HMMç(.Ç(=;(z>=(EB>(FÇ>(?@(8(O;(END(=;FÇ(>=(ÇC(F~>(yz>(=@F(Ç(B@(à@(ÖC(>(?@P(6%)0#')-.,5)'()4)/()0()'(-)m#').%")0#)-î#)7*#)'(")'#)7"#)-.47)-(r
2'()&4P(0@(N}(=>(F?N(y;(B>P(4à>(E@(§P(%;O(UP(5@(à@(1N(?@P(KKåLKHHJ
->(ÇDP(-J(+C(ÇDP(3J(¨HMMå(3;(~>(;(z;(E>(Ö@(@(Ç(UUU((?C(>(=@(FÇ@B(=@(F(=@(¨HMMã("C}(=>(~>P(}(?C(AC(É>(=>(~>(ÖC(y;Ö(O;(B@(N(NÔ(:C(=>(~>L
O@(O@(ÇC(?@P(!"#)$%)&%)'()*#')+,#)-.#)/()âP(!=ÇL
EB>(FÇ>(?N(3(ÖCP(7>(z;(z;(|?>(É@(?Nz(ÇCÇ(N(5C(;(E(z;(z;(|?>(É@(?Nz(ÇCÇ(N(0;L
B;O(3@(ANP(5C(;(E(3@AP(çHHLçHâJ
0C(ACÅ(?;BP(Ä>(Å@(=@(¨HMMå(1C?(F>(?@(Ç(~>(;(=@z(=C(?Nz(ÇN(B(=;O(L
?NP(ò()4N)'#)-()-.()'(/)-*(),#)-.()4)L4)/5),%)0()'%P(:;?((Å@(=@(¨HMMã(1C?(F>(?@(Ç(~>(;(=@z(=C(?Nz(ÇN((F(?@(>(?à>(GCB(=;(FÇ>P(í5")'#/)().#)î%)-"7)-/%)2((ª#)*5)*5)+#)64)#)
*#')+,#)-.#)/4)§8`§SÉP(0;(B>(3@AP(HââLHäâJ
0C(ACÅ(?;BP( Ä>(Å@(=@P( +C(ÇP( Ä>(Å@(=@P( ¨HMMI( 1>=(EB;(?Nz(ÇN(( y(FÇNy(
zC?(F>(~>(N(=@(FÇ@(B>(=@((GCB(=;(FÇ>P(¢#)6%NP(N()-5)7#-)2()-*(),%')-/4(ª#)*5)*5)+#r
64l)Ÿ‘ì¢P(">(ÖC(?@(HMMIP(âåLäåJ
0C(|?;(B>DP(&>(;(zC(Ç@(¨HMMK('AC(B@(àC($@y(}@(=@(Ç;(?;O(KIJ(BC(?@P(o(É@(?Nz(ÇCÇP(0;(B>(3@AP(â§äLâåãJ
+C(ÇP(Ä>(Å@(=@P(0C(ACÅ(?;BP(Ä>(Å@(=@(¨HMMã(1C?(F>(?@(Ç(~>(;(=@z(=C(?Nz(ÇN((F(?@(>(?à>(GCB(=;(FÇ>P(í5")'#/)().#)î%)-"7)-/%(2()ª#)*5)*5)+#)64)#)
*#')+,#)-.#)/4)§8`§SÉP(0;(B>(3@AP(HââLHäãJ
+zNÇP( !>(Ö@(=@( ¨HMMç( º)í%)'#/) /(5) /4*).4")'5r75.)75")'#) -#)-.%$P( )@(B;A( @( NÔ(:C(=>(?C(
>(=@(FÇ@B(=@(F(ÇNÇ(@(yF>(Ñ;(z;(E>(ÖNP(7>(z;(;É(F?>(É@(?Nz(ÇCÇP(5C(;(E

“'3%*/()æ(2#
`ij(jiîP([ip(órpkP(`ij(jiî(Rui(hîr(nr(¨HMMä(.Ç(=;(E(CzC(OC=(Ç>(N((O@(->(z;(B@(=@(
!@(=;Ö(z>(D@P():;?(,=(FÇ>(ÇN(Ç@(@(F(ÖC(>?(3*(0#(U(y;(FBC(DC(=;(A(|à>(~C(G>(B;(Ç@P(5C(;(E(3@AP()@(E(ÇNÇ(
@(F?(3*(0#P(5C(;(Ey(?@P(!@=(?;(¨KIIä(’-'5),#)*%/)-#)/5)*5)+#)6%)#)-"50)'#µ)0#)-î#)7*#)'(P(-3P(0;(B>(3@AP(
åLH§åJ
7Ha=BI7#B7C;?
VdY(`SZY(Sb(ZY¢UR(UW(V`QXUVUSWQZ(T\ZV\`Y(UW(VdY(UWVY`^`YVQVUSW((
Sb(VY¢VR(a†(RY`aUQW(`YQZURVR(UW(\^^Y`(RYTSWXQ`†(RTdSSZ
a

U>7#HU6=9A#IDHO
*'a3ZaZ/*,'LZ3'*'+1,1X`4*,'.1Y)1ZX*35'ZL'
[-3+/'.-XZ)1X`'*X10*,'/Z4X./
Vósj(ñrñip(mòòipj(r(jèihgó(mò(r(òlhlpi(YnoîsjóLdlnorpsrn(£(dlnorpsrnLYnoîsjó(ksghsmnrpï(
mò(uipwj(kinmhsno(rnsvrî(jmlnkjP(sngîlksno(hóisp(vihrñómpsgrî(ljijP(sJiJ(hprnjòippik(jinjij(
hórh(hóiji(uipwj(órui(sn(gmîîmgrhsmnj(shó(mhóip(nmlnjJ(Vói(ñrñip(ñpmñmjij(r(kihrsîik(
rggmlnh(mò(hói(jhplghlpi(mò(hói(ksghsmnrpï(rj(r(ómîiP(rnk(jñigsûij(hói(iîivinhj(irgó(
ksghsmnrpï(inhpï(mlîk(sngîlkiJ(Vósj(ksghsmnrpï(mlîk(wi(hói(ûnrî(pijlîh(mò(r(gmpñljL
wrjik( pijirpgó( ósgó( rj( kmni( shósn( hói( òprvimpè( mò( gmonshsui( îsnolsjhsgjP( rnk( sh(
mlîk(oprñósgrîîï(sîîljhprhi(gmppijñmnkingijP(jsvsîrpshsijP(rj(iîî(rj(ksòòipingij(sn(hói(
lji(mò(hóiji(uipwj(sn(hóiji(hm(îrnolroijP(hói(pirjmnj(òmp(ósgó(rpi(rggmlnhik(òmp(wï(hói(
lnsuipjrî(gmngiñhlrî(jïjhiv(hóimpïJ(
Y@egFGH=Ç' uipwj( kinmhsno( rnsvrî( jmlnkjP( YnoîsjóP( dlnorpsrnP( gmngiñhlrî( vihrñómpP(
ñmîïjivïP(îshiprî(virnsnoP(vihrñómpsgrî(virnsnoJ
lO'+*/1Y'1XLZ30*)1ZX'*+Z4)')b-'.1Y)1ZX*35
lOlO'*JED
Slp( ñlpñmji( shó( vrèsno( r( wsîsnolrî( ksghsmnrpï( mò( uipwj( kinmhsno( rnsvrî(
jmlnkj(rj(nmh(hm(mòòip(r(hirgósno£îirpnsno(rsk(òmp(hói(òmpison(îrnolroi(gîrjjL
pmmvP(mp(r(piòipingi(wmmè(òmp(hprnjîrhmpjP(wlh(hm(hijh(rnk(sîîljhprhi(hói(gmonshsui(
îsnolsjhsg(hóimpï(mò(vihrñómpLwrjik(ñmîïjivïJ
Vói(gmngiñhlrî(wrjsj(òmp(hói(gmonshsui(hóimpï(mò(vihrñómp(órj(wiin(îrsk(kmn(
wï([impoi(Zrèmòò(rnk(ôrpè(emónjmn(¨Zrèmòò(rnk(emónjmnP(KIäMJ(Vóiï(ipi(hói(
ûpjh(óm(gîrsvik(hórh(vihrñómp(sj(r(gmonshsui(mpornssno(ñpsngsñîi(ósgó(jhplgL
hlpij(rîî(mlp(iñipsingij(rwmlh(hói(mpîkP(rnk(ósgó(gmlîk(ñpmwrwîï(ñîrï(r(èiï(
pmîi(sn(rn(rkiúlrhi(rggmlnh(mò(hói(ñpmgijj(mò(gmonshsmnJ(ômjh(pijirpgó(mn(gmngiñL
hlrî(vihrñómp(òmgljij(mn(ûnksno(mlh(vmpi(rwmlh(hói(isjhingi)mò(ñrphsglîrp(gmnL
giñhlrî(vihrñómpjP(sJiJ(hrpoih(rnk(jmlpgi(kmvrsnj(rnk(hóisp(îsnolsjhsg(pirîsrhsmnjP(
rj(iîî(rj(hóisp(sn¿lingi(mn(ólvrn(hómloóhJ(Tmonshsui(îsnolsjhj(órui(ñpmuik(hórh(
KåK

⁄QA)ÄDP@>J)YF:b
vihrñómp(sj(r(lnsuipjrî(ñóinmvinmnP(iuin(sò(shj(vrnsòijhrhsmnj(urpï(òpmv(mni(
îrnolroi(rnk(glîhlpi(hm(rnmhóip(hm(r(giphrsn(kiopiiJ(Slp(jhlkï(sj(snhinkik(hm(wi(r(
vmkijh(gmnhpswlhsmn(hm(hóiji(iòòmphjJ
lOmO'/@yôAqGÅEoGGAK
Vói(jhrphsno(ñmsnh(òmp(mlp(mpè(rj(r(nlvwip(mò(Ynoîsjó(rnk(dlnorpsrn(gmîîmL
grhsmnj(gmvñpsjsno(nmlnj(kinmhsno(rnsvrîj(rnk(uipwj(kinmhsno(hói(rïj(hóiï(vrèi(
jmlnkjJ(blphóip(pijirpgó(ñpmuik(hórhP(rñrph(òpmv(nmlnj(kinmhsno(rnsvrîjP(hói(uipwrî(
gmnjhshlinhj(gmîîmgrhi(shó(mhóip(nmlnj(rj(iîî(8(nmlnj(kinmhsno(ñimñîiP(mwìighjP(
nrhlprî(ñóinmvinr(rnk(rwjhprgh(nmhsmnjJ(Slp(rhhinhsmn(rj(ijñigsrîîï(òmgljik(mn(
hóiji(vihrñómpsgrî(ihinjsmnj(mò(hói(uipwjP(skijñpirk(sn(wmhó(îrnolroijJ(
aï(rpprnosno(hói(ksòòipinh(jinjij(mò(hóiji(uipwj(snhm(r(ksghsmnrpï(òmpvP(hóisp(
gmvñrpsjmn(rnk(gmnhprjh(rj(vrki(irjsipJ(aï(pirksno(hói(kihrsîikP(grpiòlîîï(pshL
hin(inhpsijP(mni(sj(îsèiîï(hm(ûnk(gmppijñmnkingijP(iúlsurîingijP(jsvsîrpshsij(rnk(
ksòòipingijP(piolîrpshsij(rnk(sppiolîrpshsij(sn(Ynoîsjó(rnk(dlnorpsrnJ(
lOuO'0AGtFHFBFxr
Vói(jlwìigh(rj(ûpjh(hóimpihsgrîîï(iîrwmprhikP(òpmv(hói(rjñigh(mò(gmonshsui(îsnL
olsjhsg(hóimpïJ(Un(hói(ñprghsgrî(ñrph(mò(hói(pijirpgóP(r(gmpñlj(rj(gmvñsîikJ(bspjhP(
hm(îsjhj(mò(gmîîmgrhsmnj(ipi(vrki(¨rn(Ynoîsjó(rnk(r(dlnorpsrn(mniP(sngîlksno(
nmlnj(kinmhsno(rnsvrîj(rnk(uipwj(iñpijjsno(hói(rï(hóiï(vrèi(jmlnkjP(jmphsno(
wï(rnsvrîjJ(Vósj(sj(óm(i(rppsuik(rh(hói(îsjh(mò(uipwj(hm(wi(ksjgljjik(hópmloómlh(
hói(pijirpgóJ(drusno(kmni(hósjP(rnmhóip(hm(ñrprîîiî(îsjhj(mò(gmîîmgrhsmnj(ipi(
vrkiP(sngîlksno(hói(rwmui(uipwj(mngi(rorsnP(wlh(hósj(hsvi(shó(mhóip(nmlnj(¨nmh(
kinmhsno(rnsvrîjP(jmphsno(wï(uipwjJ(Qîî(gmîîmgrhsmnj(ipi(góigèik(sn(ksghsmnrpsij(
rnk(hói(nrhsmnrî(gmpñmprP(hm(ûnk(mlh(óihóip(hóiï(rññirp(sn(wmhó(îrnolroijP(rnk(sò(
hóiï(kmP(hóin(óihóip(hóisp(virnsnoj(rpi(irghîï(hói(jrvi(mp(nmhJ(
KåH
lOúO')tA'qFKz@D
Vói( gmîîmgrhsmnj(shó( nmlnj( kinmhsno( rnsvrîj(rnk( uipwj( kinmhsno( hói( rï(
hóiï(vrèi(jmlnkj(ipi(gmvñsîik(shó(hói(óiîñ(mò(vmnmîsnolrî(ksghsmnrpsij(rnk(
hói(nrhsmnrî(gmpñmpr(8(Ynoîsjó(mnij(sn(hói(TP@G9bA:)t@G9>A;@)^9b>9F:AGe)Fi)>J@)
]:;C9=J)8A:;A)_FGCH)]:;C9=J)^9b>9F:AGe)¨KIIIP(cAPfG9H;@)
THQA:b@H)8@AG:@GI=)^9b>9F:AGe)¨HMMål(o@GG9APr_@f=>@GI=)cFCC@;9A>@)^9b>9F:­
AGe)¨HMMçl)rnk(hói(UG9>9=J)ÄA>9F:AC)cFGB@CP@k¤) YDk9=k>ØG) mcF:b9=@) tFGe) ^9b>9F:AGen( ¨HMMçP)

Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(XYWSVUW[(JJJ
]>9PFC;9A9)=k>ØG(m]>ePFCF;9bAC)^9b>9F:AGen(¨HMMãn(rnk(oA;eAG)Ä@Pk@>9)ak±­
Q@;>ØG(mt9F:AC)cFGB=)bJA>>@G)mbJA>>@G@HS)AG@)bJA>>@G9:;)ihgJ)mnîï(hói(
nmln(ñóprji(9:=@b>)bJA>>@G)rj(òmlnkP(hólj(sh(rj(hói(nmln(ñóprji(hórh)rj(pigmpkikJ
Vói(muiprîî(nlvwip(mò(ksòòipinh(ljij(mò(hói(â§(Ynoîsjó(uipwj(sj(Hâ§P(rnk(mò(hói(
âç(dlnorpsrn(uipwj(HHãP(ósgó(jiivj(hm(snksgrhi(hórh(Ynoîsjó(sj(r(vmpi(igmnmvsg(
îrnolroiJ(Vóiji(rpi(úlshi(îrpoi(nlvwipjP(hórh(i(rpi(nmh(îsèiîï(hm(ûnk(sn(isjhsno(
ksghsmnrpsijJ(
lOO'-sJDGJpx'HJqGJFpoKJAD
Vprkshsmnrî(ksghsmnrpsij(sngîlki(mnîï(hómji(jinji(lnshj(hórh(rpi(iîî(inhpingóik(
sn(hói(îrnolroi(rnk(rpi(jhpmnoîï(jlññmphik(wï(gmnuinhsmnrî(gmnjhprsnhjP(hóiï(òmL
glj(mn(rjñighj(mò(mpk(virnsno(hórh(órui(rhhrsnik(jmvi(jmph(mò(kiòrlîh(jhrhljJ(
Vóiï(rpi(nmh(îsèiîï(hm(ksjhsnolsjó(jlwhîi(ksjhsnghsmnjP(ósgó(sj(lnkipjhrnkrwîiP(
jsngi(r(ksghsmnrpï(grn(mnîï(mòòip(r(ûnshi(îsjhP(jm(r(ósoó(kiopii(mò(jiîighsushï(sj(
Kåç

⁄QA)ÄDP@>J)YF:b
sniushrwîiJ(Un(hói(rwjingi(mò(gîirp(gpshipsrP(sh(sj(rîjm(sniushrwîi(hórh(ksòòipinh(ksghsmL
nrpsij(sîî(vrèi(ksòòipinh(ksjhsnghsmnjP(ijñigsrîîï(óipi(vmpi(jlwhîi(ksjhsnghsmnjP(
mp(mnij(îijj(gîirpîï(îsginjik(wï(gmnuinhsmn(rpi(gmngipnikJ
mO')b-Z3-)1Y*,'+*Y{3Z4X.
mOlO'0AGoztFKJqoB'yoDA
ôrnï(iuipïkrï(iñpijjsmnj(rpi(wrjik(mn(r(gmngiñhlrîsrhsmn(mò(vrn(rj(rn(rnsL
vrîJ(Vói(gmngiñhlrî(vihrñómp(MAN IS AN ANIMAL sj(jrnghsmnik(wï(r(vrññsno(òpmv(
hói(jmlpgi(kmvrsn(mò(ANIMALS(hm(hói(hrpoih(kmvrsn(mò(MANJ(Vóipi(rpi(giphrsn(inhsL
hsij(sn(hói(kmvrsn(mò(ANIMALS(¨iJoJ(îmmèjP(wiórusmlpP(jmlnkjP(ihgJ(hórh(gmppijñmnk(
jïjhivrhsgrîîï(hm(inhshsij(sn(hói(kmvrsn(mò(MAN(¨îmmèjP(wiórusmlpP(jmlnkjP(ihgJJ(
Vóiji(gmppijñmnkingij(ñipvsh(lj(hm(hósnè£hrîè(rwmlh(vrn(ljsno(hói(ènmîikoi(i(
órui(rwmlh(rnsvrîjJ(Vói(PEOPLE ARE ANIMALS(gmngiñhlrî(vihrñómp(vrï(osui(psji(hm(
vihrñómpsgrî(inhrsîvinhj(jlgó(rj(hói(òmîîmsno{(ñimñîi(îmmè(îsèi(rnsvrîjP(ñimñL
îi(wiórui(¨rghP(vmuiP(irhP(kpsnèP(ihgJ(îsèi(rnsvrîjP(ñimñîi(órui(jmvi(ñipjmnrîshï(
hprshjP(snnip(górprghipsjhsgj(hórh(rpi(¨gmnuinhsmnrîîï(hómloóh(hm(wi(górprghipsjhsg(mò(
rnsvrîjP(ñimñîi(ivsh(giphrsn(jmlnkj(mp(hrîè(sn(r(rï(hórh(pijivwîij(hói(rï(rnsvrîj(
ivsh(hói(jmlnkj(górprghipsjhsg(mò(hóivP(ñimñîi(órui(ómvij(hórh(pijivwîi(rnsvrî(
ómvijP(ólvrn(gmvñrnï(vrï(pijivwîi(rnsvrî(ñrgèjP(rnk(hóipi(rpi(ñmjjswîï(mhóipjJ(
Vói gmngiñhlrî(vihrñómpj( DY – NATURAL PHENOMENA ARE ANIMALS;
P>F;)A)
BAb=9G>A#r#7H;67BK#78=#DYe¤R@)=èQ±C>l)k›;:AR)A)GFQAGFR – ANIMALS
ARE NATURAL PHENOMENA.
Kå§

Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(XYWSVUW[(JJJ
mOmO'LKoEAD
Rmvi(mò(hói(vihrñómpj(lnkipîïsno(hói(ûolprhsui(jinjij(mò(uipwj(kinmhsno(rnsL
vrî(jmlnkj(gmnjhshlhi(vrññsnoj(mò(úlshi(psgó(gmnhinhP(ósîi(mhóipj(km(nmhJ(Vósj(
jómj(hórh(hóiï(urpï(sn(gmnuinhsmnrîshïJ(Yuin(hómloó(mlp(gmpñlj(rj(kijsonik(jm(
rj(hm(sngîlki(gmnuinhsmnrîP(iuipïkrï(îsnolsjhsg(vrnsòijhrhsmnj(mò(vihrñómpj(rnk(
hm(ûîhip(mlh(rîî(nmngi(gpirhsmnjP(hói(òrgh(sj(hórh(iuin(hóiji(gmnuinhsmnrî(vihrñómpj(
ksòòip(snhip(ji(shó(pijñigh(hm(kiopii(mò(gmnuinhsmnrîshïP(gmnuinhsmnrîshï(wisno(
mò(jgrîrp(nrhlpiJ(Vósj(vrï(wi(sîîljhprhik(wï(kijgpswsno(jmvi(mò(hói(òprvij(hórh(
ñrphsglîrp(iñpijjsmnj(iumèi{(¨©mpkj(rnk(gmnjhplghsmnj(iumèi(rn(lnkipjhrnksnoP(
grîîik(r(òprviæ(r(óirpip(snumèij(r(òprvi(lñmn(óirpsno(rn(lhhiprngi(sn(mpkip(hm(
lnkipjhrnk(shJ(¨Tpmòh(rnk(TpljiP(HMM§(
©óin(i(lji(hói(iñpijjsmn(8FQ@G=)AG@)cooing)>F)@AbJ)F>J@GP(r(òprvi(sngîlL
ksno(hm(kmuij(sj(grîîik(lñmnP(i(rîvmjh(jii(hóiji(oinhîi(gpirhlpijP(hói(jïvwmîj(
mò(îmuiP((jshhsno(mn(r(wprngó(¨òmpvsno(r(óirphLjórñi(rj(hóiï(îirn(muip(irgó(mhóipP(
ihgJJ(
dirpsno(r(jinhingi(îsèi(»cFQ@G)eF

⁄QA)ÄDP@>J)YF:b
bmp(irvñîiP(hói(uipw(bC9bR(kinmhij(r(jmlnk(hórh(grn(iúlrîîï(wi(hói(jmlnk(mò(
kmîñósnjP(mp(hói(vmlji(mò(r(gmvñlhipP(mp(órnkglòòj(gîmjsno(jólhP(mp(ûnoipj(wisno(
jnrññikJ(Wm(mni(mlîk(pirîîï(jrï(hórh(hóipi(sj(rnïhósno(kmîñósnLîsèi(sn(hói(jmlnk(
mò(órnkglòòjP(mp(sn(ûnoipj(wisno(jnrññikJ(RhsîîP(i(òiiî(hórh(hóiji(ljij(rpi(nmh(ìljh(
jîsoóhP(gmnhihLwmlnk(urpsrhsmnj(mò(mni(rnk(hói(jrvi(virnsnoP(wlh(hóiï(órui(hm(wi(
ksòòipinh(jinjijP(kinmhsno(urpsmlj(òprovinhj(mò(pirîshïJ(
Vóiji(grjij(gmnûpv(mngi(rorsn(hórh(ñmîïjivï(sj(r(gîsni(prhóip(hórn(r(ïij£nm(
vrhhipJ
uO',-_1YZ`3*ab1Y*,'.-/Y31a)1ZX
Kåã
uOlO'/JEJBoKJGJAD'opH'HJvvAKApqAD'yAGMAAp'GtA'EAGoztFKJqoB'@DAD'Fv'nAKyD'
HApFGJpx'opJEoB'DF@pHD'Jp'-pxBJDt'opH'b@pxoKJop
Vói(ksghsmnrpï(òmpv(snhm(ósgó(hói(urpsmlj(ljij(mò(hói(uipwj(rpi(mpornsikP(
oprñósgrîîï(ñpijinhj(hói(jsvsîrpshsij(rnk(ksòòipingij(wihiin(uipw(ljij(sn(Ynoîsjó(
rnk(dlnorpsrnJ(Vóipi(rpi(grjij(óin(rîî(hói(jinjij(rpi(ljik(sn(hói(jrvi(rï(sn(
wmhó(îrnolroij(¨iJoJ(fAgC)1)f¤;l)f±Pf±Cl)sn(òmlp(ksòòipinh(jinjijP(hóin(hóipi(rpi(
grjij(óin(rîî(hói(ksòòipinh(jinjij(mò(r(uipw(órui(r(ksòòipinh(gmppijñmnkinh(sn(hói(
mhóip(îrnolroi(¨iJoJ(fAGR)r)mÅn)l)b=AJFCÜ)mÉAn)mØ==k@G‹@:n)R±J±;Ü)mÉfn)i@C­
J±GHèCÜ)mÉbn)H±G±;l)GØH±GHèC)QRG@l):e@G=SBAGA:b=FC)JA:;F:)=kCÜ)mán)i@CPFGH

Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(XYWSVUW[(JJJ
rrèiP(ijñigsrîîï(irpîï(sn(hói(vmpnsno(mp(îrhi(sn(hói(iuinsnoP(rrèinsno(mhóipj(
mp(èiiñsno(hóiv(rrèiJ
Vóipi(rpi(jiuiprî(grjij(óipi(hói(nmln(gmîîmgrhi(sj(ljik(vihmnïvsgrîîïP(rnk(
hóiji(grjij(ipi(r(îshhîi(vmpi(ksòûglîh(hm(grhiompsiJ
iJoJ) aF) A) JAC>) A>) A) bJ@bRBF9:>s) ) t9G>@C@:) csikorogva)
P@;ØCC>:ØCs)
dipiP(hói(nmln(gmîîmgrhi(sj(g@l)wlh(sh(rghlrîîï(virnj(r(vmhmp(uiósgîiJ(Rm(jómlîk(sh(
wi(grhiompsik(rj(r(nmln(kinmhsno(ñimñîiP(mp(rj(r(nmln(kinmhsno(rn(mwìigh¬
Qnmhóip(irvñîi(sj(
) V@G9R)A)HFfF>l)PAEH)=kD>=kARAHl)@;e)C@;D:e)Q;A:)cincog)A)J@;@H‹:s)
) )))))))))[J@e)f@A>)>J@)HG)f9:;)9>l)A:H)A)CAH)JABB9Ce)scrapes
F:)>J@){HHC@s
( bmpvrîîïP(hói(jlwìigh(sj(>J@)CAHl)wlh(sh(sj(pirîîï(>J@){HHC@(hórh(vrèij(hói(jgprL
ñsno(jmlnkJ(Rómlîk(sh(wi(grhiompsik(rj(r(ñipjmn(mp(rn(mwìigh¬
( Un(hói(inkP(i(grhiompsik(hóiji(gmîîmgrhij(mn(r(òmpvrî(wrjsjJ
uOmO')tA'DGK@qG@KA'Fv'GtA'HJqGJFpoKr
Vói(YnoîsjóLdlnorpsrn(ñrph(mò(hói(ksghsmnrpï(órj(â§(inhpsijP(òmp(â§(Ynoîsjó(
uipwj(kinmhsno(rnsvrî(jmlnkjJ(Vóiji(uipwj(rpi(hói(jmLgrîîik(=@bF:HAGe)bFCCFbA>@=(
mò(hói(gmîîmgrhsmnj(hórh(mlp(gmpñlj(sngîlkijJ(Vói(inhpï(mpkj(rpi(mpkipik(rîñórL
wihsgrîîïP(rnk(rpi(pshhin(sn(Vsvij(Wi(`mvrnP(jsi(KHP(amîkP(Qîî(TrñjJ(
Yrgó( inhpï( sngîlkij( nlvwipik( jighsmnj( òmp( hói( urpsmlj( virnsnoj( mò( hóiji(
uipwjP(rnk(jmvihsvij(jlwjighsmnj(shósn(hóijiP(vrpèik(wï(îihhipjJ(Vói(BG9PAGe)
bFCCFbA>@=P(sJiJ(hói(nmlnj(ósgó(òpiúlinhîï(mgglp(shó(hói(inhpï(mpkP(rpi(osuin(
sn(júlrpi(wprgèihjJ(Rmvihsvij(jñigsûg(irvñîij(rpi(îsjhik(¨sn(UhrîsgjP(wlh(oinL
iprîîï(hóiï(rpi(piòippik(hm(rj(¥nmlnj(kinmhsno(rnsvrîj£(ñimñîi£(mwìighj£(nrhlprî(
ñóinmvinr£(rwjhprgh(nmhsmnjøJ(Yrgó(jighsmn(shósn(rn(inhpï(ksjgljjij(hói(lji(mò(
hói(osuin(uipw(sn(gmvwsnrhsmn(shó(nmlnj(wiîmnosno(hm(mni(mò(hóiji(grhiompsijP(
rnk(jlwjighsmnj(rpi(hm(wi(òmlnk(óin(hóipi(rpi(ksòòipinh(ljij(¨jmvihsvij(snumîuL
sno(r(jiñrprhi(opmlñ(mò(nmlnj(shósn(mni(grhiompïJ(Vói(ñpsvrpïP(ñpmhmhïñsgrîP(
îshiprî(virnsno(mò(hói(uipw(sj(ljlrîîï(hói(mni(sh(órj(óin(piòippsno(hm(nmlnj(kiL
nmhsno(rnsvrîjP(óingi(sh(sj(îsjhik(rj(ûpjh(sn(irgó(inhpïP(rnk(hói(mhóipP(hprnjòippikP(
vihrñómpsgrîP(îijj(ñpmhmhïñsgrî(virnsnoj(rpi(îsjhik(rj(jigmnkP(hóspkP(ihgJ(Un(r(òi(
grjijP(hómloóP(sh(sj(hói(virnsno(sn(gmîîmgrhsmnj(shó(ñimñîi(mp(hósnoj(hórh(sj(hói(
ñpmhmhïñsgrîP(îshiprî(virnsno(¨iJoJ(>ACR(8(f@=kDCæ(ómiuipP(hm(vrèi(hói(muipusi(
nirh(rnk(irjï(hm(òmîîmP(irgó(inhpï(sîî(ûpjh(îsjh(hói(virnsno(hórh(hói(uipw(órj(sn(
gmîîmgrhsmnj(shó(rnsvrîjP(hóin(hói(virnsno(sh(órj(shó(nmlnj(kinmhsno(ñimñîiP(
hóin(shó(mwìighjP(nrhlprî(ñóinmvinr(rnk(rwjhprgh(nmlnj(sn(hói(inkJ(
Kåâ

⁄QA)ÄDP@>J)YF:b
Xiûnshsmnj(rpi(osuin(òmp(rîî(hói(urpsmlj(ljij(òmlnk(sn(hói(gmpñljJ(Rmvi(mò(hói(
kiûnshsmnj(órui(wiin(òmpvlîrhik(wrjik(mn(hómji(òmlnk(sn(isjhsno(ksghsmnrpsijP(
mhóipj(órui(wiin(kiklgik(òpmv(ljij(òmlnk(sn(mnîsni(gmpñmprJ(drusno(pirk(rnk(
gmvñrpik(grpiòlîîï(hói(ksghsmnrpï(kiûnshsmnj(mò(rîî(hói(uipwjP(sh(vrï(wi(pivrpèik(
óipi(hórh(hóiji(kiûnshsmnj(rpi(mòhin(úlshi(snksjhsngh(rnk(muipîrññsnoJ(Vói(vrsn(
pirjmn(òmp(hósj(sj(hórh(hóipi(sj(nm(pirksîï(rursîrwîi(vihrîrnolroi(òmp(ksjgljjsno(
ksòòipingij(sn(jmlnkjJ(Rmvi(jmlnkj(rpi(osuin(gîirpip(kijgpsñhsmnj(¨iJoJ(J9=={(r(
jórpñ(jswsîrnh(jmlnk(jsvsîrp(hm(r(jljhrsnik(sP(mhóipj(rpi(úlshi(uroliîï(mp(gspglL
îrpîï(kiûnik(¨iJoJ(?

Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(XYWSVUW[(JJJ
• oe)J@AH)gA=)buzzing)g9>J)ACC)>J@)>J9:;=)`IQ@)J@AGH)>JA>):9;J>s))ç›;F>>)A)
i@E@P)Ak)DEE@C)JACCF>>AR>Cs
• fioe)P9:H)9=)buzzing)g9>J)9H@A=)¨sJiJ(ni(kijsonj(òmp(ènshhsnol)`)bA:I>);@>)
>J@P)R:9>>@H)iA=>)@:FFCH)P@s))r)T)i@E@Pf@:)Q@G=@:;@:@R)@;ePØ=­
=AC)Ak)›E)±>C@>@R)¨hJsJ(è“htjvsnhÏèl)AC9;);e¤k±P)P@;R±>:9)¤R@>)1)PF:H>As
{434))5Z,'ªshó(nmlnj(kinmhsno(ñimñîi(hm(rshP(îsnoip(jmvióipi(kmsno(
nmhósnoP(mp(hm(wi(rrèi(rh(nsoóh(¨J)>@)PDG>)kuruttyolsz)9>>)@;e@HèC)A)=±>D>f@:u))_Je)AG@)eF>9:;)J@)HAGRu
uOúO'*'vAM'DoEzBAD'vKFE'GtA'HJqGJFpoKr
Zih(lj(wiosn(shó(hói(jsvñîijhP(mp(vmjh(gîirpLglhP(nirhijh(irvñîiP(óin(irgó(
lji(mò(hói(Ynoîsjó(uipw(órj(hói(jrvi(dlnorpsrn(gmppijñmnkinh{
+*~,'
¨K'ªshó(nmlnj(kinmhsno(rnsvrîjP(ijñJ(bA>>C@(hm(ivsh(r(kiiñ(kprnLmlhP(wiîîmL
sno(jmlnkæ(Õ'yxÄ'y©Ey©B'ªîmlkip
• cA>>C@ bawled)A:H)JFG=@=)BGA:b@Hl)C9?AR-' iFCe>) A) =k@=kl) D=) >Ø:bFC>AR) A)
PAGJABØ=k>FGFRs
¨H(ªshó(nmlnj(kinmhsno(ñimñîi)
¨r(hm(gpï(nmsjsîï(¨9:iPCæ(Õ'y©Ey©BÄ'yx'ªiuin(vmpi(snòmpvrî
• `:)A:)9:=>A:>l)>J@)>FHHC@G bawled)A>)>J@)>FB)Fi)J9=)QF9b@)FQ@G)ABBAG@:>Ce)
:F>J9:;s))T)R±Ce±R)@;e)=k@PB9CCA:>Ø=)ACA>>)>FGRA=kARAH>ØfC)TWXTW5;3)
R@kH@>>l)CØ>=kCA;)P9:H@:)FR):DCRèCs
• [J@)bJ9CH bawled)9C)=J@)gA=)JFAG=@s))T);e@G@R)AHH9;)TWXTW5Ol)P;)f@)
:@P)G@R@H>s
• t@)bG9@H)C9R@)A)fAfe. Bawled)C9R@)A)fAfel)PFG@)C9R@s))fl;e)=G>l)P9:>)@;e)
b=@b=@P¤s)VA;e9=)9:RØff)›;e)TUVWOOl)P9:>)@;e)b=@b=@P¤s
¨w(hm(jómlh(uipï(îmlkîï(rnk(shómlh(pijhprsnhP(ljlrîîï(sn(rn(roopijjsui(umsgiP(îsèi(
r(îrpoi(rnk(jhpmno(rnsvrîæ(Õ(yxÄ'y©Ey©B
• fi_JF‡=)P@R9:‡)ACC)>J9=)GAbR@>ufi)J@)bawled)9:)A)>J@C@Q9=9F:l)GAH9F(hm(vrèi(r(îmlkP(
pmrpsno(nmsjiæ(Õ(yxÄ'y©Ey©B
KåI

KãM
⁄QA)ÄDP@>J)YF:b
• [J@) >GA9:) Fi>@:) =>FBB@H) >F) C@>) G@ACCe) 9PBFG>A:>) >GA9:= bawl) A:H) JC@)
fes(Õ(T)QF:A>);eARGA:)P@;ØCC>l)JF;e)TUVB9l)k›;QA)@CGFfF;EA:AR)P@CC@>>@)
PØ=l)9;AkØ:)iF:>F=)QF:A>FRs
• [J@ >@C@Q9=9F:)=@>)bawled)bFPP@Gb9AC=)A>)J9Ps))T)>@C@Qk9RD=kèCDR)G@R­
CØPFRA>)TWXTW5O)i@CDs
dmiuip( nirh( rnk( jsvñîi( hósj( inhpï( sjP( hómji( mò( hói( gmppijñmnksno( dlnorpsrn(
uipwj(¨yx(rnk£mp(y©Ey©B(rpi(nmh(nigijjrpsîï(ìljh(rj(jsvñîi(rnk(nirhP(hóipi(sj(
nm(jïvvihpïJ
+¥`)
¨K(ªshó(nmlnj(kinmhsno(rnsvrîjP(ijñJ)bA>>C@l)A==l)HF:R@el)PF>>) JA:;F:l) f@C@) A)
=9QA>A;fAs))`)gFF)gG9>@)>J@)gAe)A)C9F:)roars 9:>F)>J@)H@=@G>l)
CF:;)A:H)HGAg:rFs
• hD:=kAGQA=l)JA)f@CDBH@C)A)>9=k>Ø=GAl)fè=kRD:)TUV)A):A;e)A;A:b=A)ACA>>s)
)_J@:)>J@)G@9:H@@G)=>@B=)F:>F)>J@)bC@AG9:;l)J@)bells BGF>9G@s
¨H(ªshó(nmlnj(kinmhsno(ñimñîi(
¨r(ªijñJ(gósîkpin(rnk(mvin(hm(gpï(îmlkîïP(kijñiprhiîï(¨9:iPCæ(Õ(MoJBÄ'yoMB
• Tk>)PF:HEØRl)JF;e)O9=>9)El)b=AR)TUV-'P9:>)A)GØH9s))O9=>9)9=)=A9H)>F)f@)A)
;FFH)fFel)@ñb@B>)>JA>)J@)wails)C9R@)A)fAfes
¨w(hm(ivsh(wiîîmsno(jmlnkj(wigrlji(mò(rnoip(mp(mhóip(jhpmno(ivmhsmnæ(Õ(yoMBÄ(
yABBFM
• c=A>ØGA)JAE>Fk)[èH@è=kl)¤GE±:;Q@)k@:;l)P9:>)=ØGRØ:e)JA:;EA-'TUV)A)HDC9)
:ABQ@G¤:s))[JAHH@=)A)fA>>C@l)J@)9=)GA;9:;):F9=9Cel)bellowing)C9R@)
A)HGA;F:)9:)>J@)P9HHAe);CAG@)Fi)>J@)=

Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(XYWSVUW[(JJJ
• ];e)JAERèG>'TUV)A)BØGØfA:)iJ)=>@APs
• YUV)A)RFCFPBl)ABRAx))[J@)bFgrf@CCI=)clangingl)iA>J@Gx
• ];e=k@GG@)JACCFPl)JF;e)A)iFCe:)>›C)A)RFJ)HGFPf9>ØR) >FGl)@:;9:@æ(Õ(
KFoKÄ'yFFEÄ'yABBFM
• T) Q9CØ;) P9:H@:) A>B>) TUV) A) =FR=ØQF=) B@R9:;9) =J@)P9rCA:@)
GFAH=)Fi)O@R9:;s
• c=AR)JA) A) Q9CCA:eF=)Ø>GFJA:)9>>)mD=)P9:>)A)>@JD:)TUVnl)=@E>@:9)A)QØGF=)
=k±G:e@>@;@=)R±k@CD>s))Z:Ce)gJ@:)>J@)>GAP)G)mbellowing)C9R@)A)
bFgn)bA:)eFJ@)PF:=>GFJ@)>Fg:s
• oF>FG'TUV)A)iDP=k:‹)PA;A=fA:l)fFPfA)JJ@)P@>ACrbFCFCe)gJ@G@)
>F)CA:Hs
¨§(ªshó(nmlnj(kinmhsno(nrhlprî(ñóinmvinr(îsèi(g9:Hl)G9Q@Gl)qFFH(ihgJ(hm(vrèi(
r(kiiñP(wmmvsno(jmlnkæ(Õ(tFMBÄ'yFFE
• tAGPAH9R):ABEA)i›E)A)=kDCl)k›;)D=)k±G±;l)TUV)D=)f@=kDCs))`>)9=)>J@)>J9GH)
HAe)>JA>)>J@)g9:H)fCFg=l)fFFP=)A:H)GA>>C@=l)howls)A:H)>ACR=s
( Qj(i(grn(jii(sn(hói(rwmui(irvñîiP(jmvihsvij(irgó(rnk(iuipï(lji(mò(hói(
inhpï(uipw(órj(r(ksòòipinh(gmppijñmnkinh(£(iúlsurîinh(sn(hói(mhóip(îrnolroiJ
( Un(hói(inkP(îih(lj(jii(rn(irvñîi(óin(nm(dlnorpsrn(gmppijñmnkinh(mp(iúlsurL
îinh(órj(wiin(òmlnk(òmp(hói(vihrñómpsgrî(lji(mò(hói(Ynoîsjó(uipw{
`Z++,-(
¨K(ªshó(nmlnj(kinmhsno(rnsvrîjP(ijñJ)>)JC@)CAPf)>FHAeufi)aJ@)gobbled A:H);AffC@H)9:)>J@)PFG:9:;=s
KãK

⁄QA)ÄDP@>J)YF:b
úO'YZXY,4/1ZX
Uh(sj(nmh(r(úlijhsmn(óihóip(i(lnkipjhrnk(hóiji(vihrñómpsgrî(ljij(8(mò(gmlpji(
i(kmJ(alh(lnkipjhrnksno(rn(lhhiprngi(sj(r(gmvñîi(ñpmgijjP(ómiuip(iòòmphîijj(
sh(sjP(rnk(shj(gmvñîishï(niikj(hm(wi(gîrpsûik(wï(virnj(mò(vmkipn(jgsinhsûg(ksjgsL
ñîsnijP(gmonshsui(îsnolsjhsgj(rvmno(hóivJ(
Uh(órj(wiin(ñpmuik(hórh(mpk(virnsno(sj(gîmjiîï(snhioprhik'shó(ihprîsnolsjL
hsg(ènmîikoi'¨glîhlprî(wrgèopmlnkP(oiniprî(mpîk(ènmîikoiP(òmîè(ènmîikoiP(
ingïgîmñiksg(ènmîikoiP(ihgJJ(Vóiï(rpi(rîî(snksjñinjrwîi(hm(èiiñ(hprgè(mò(piòL
ipinhsrî(urpsrhsmnj(shósn(r(osuin(gmnhihJ(©óin(hói(gmngiñhlrî(jïjhiv'rnrîïjij(
hói(lhhiprngiP(sh(gmnjskipj(wmhó(hói(îsnolsjhsg(rnk(hói(ihprîsnolsjhsg(gmnhih'rnk(
rggmpksnoîï(jñigsûij(órh(snhipñpihrhsmn(hói(mpkj(sn(úlijhsmn(jómlîk(pigisui(
rnk(lîhsvrhiîï(órh(hói(lhhiprngi(virnjJ(ôihrñómpj(rpi(lnkipjhmmk(iòòmphîijjîï(8(
wigrlji(iñipsingi(sj(rîjm(gmngiñhlrîsik(sn(vihrñómpsgrî(rïjJ(
Rïjhivrhssno(hói(lji(mò(uipwj(kinmhsno(rnsvrî(jmlnkj(sn(hói(rï(kijgpswik(
rwmui(órj(nmh(wiin(kmni(jm(òrpP(ósgó(rj(sn(shjiîò(pirjmn(inmloó(hm(km(sh(nmJ(
alh(jsngi(hósj(ksghsmnrpï(sîîljhprhij(mngi(rorsn(óm(lwsúlshmlj(vihrñómpLwrjik(
ñmîïjivï(sjP(sh(órj(ómñiòlîîï(gmnhpswlhik(hm(hói(opmsno(wmkï(mò(gmonshsui(îsnL
olsjhsg(pijirpgó(rj(iîîJ
3-L-3-XY-/
TpmòhP(©JP(TpljiP(XJQJ(¨HMM§J(cF;:9>9Q@)89:;9b=s)Trvwpskoi(\nsuipjshï(^pijjP(TrvwL
pskoiJ
üpijmjès(VJ( ¨KIIMJ( cF:>GA=>9:;) 8A:;GA=9Q@) 89:;9b=s)
ômlhmn(ki([plïhipJ(aipîsnP(Wi(†mpèJ
ZrèmòòP([JP(emónjmnP(ôJ(¨KIäMJ(o@>ABJFG=)_@)89Q@)Ues)Vói(\nsuipjshï(mò(Tósgrom(^pijjJ(
TósgromJ
.1Y)1ZX*31-/'*X.'YZ3aZ3*
[J@)TP@G9bA:)t@G9>A;@)^9b>9F:AGe)Fi)>J@)]:;C9=J)8A:;9F:AGeJ(¨HMMåJ
]:bAG>A)_FGCH)]:;C9=J)^9b>9F:AGeJ(¨KIIIJ(
]>9PFC;9A9)=k>ØGs)oA;eAG)=kAQAR)D=)>FCHACDRFR)@G@H@>@s(¨HMMãJ
oA;eAG)⁄G>@CP@k¤)YDk9=k>ØGJ(ôÏjmksèP(Ïhkmîommhh(èsrkÏjJ(¨HMMçJ(
o@GG9APr_@f=>@GI=)cFCC@;9A>@)^9b>9F:AGeJ(¨HMMçJ(
ZG=kØ;Jl)oA;AeÇ)T:;FC1PA;eAG):A;e=k>ØG)¨HMMãJ
KãH

Q(^`S^SRQZ(bS`(Q(aUZUW[\QZ(XUTVUSWQ`†(Sb(cY`aR(XYWSVUW[(JJJ
vØ=kl)Y±Q@b=@=l)ZG=kØ;JÇ)oA;eAG1A:;FC):A;e=k>ØG(¨HMMãJ
ZñiFGH)cFCCFbA>9F:=)^9b>9F:AGe)iFG)a>=)Fi)]:;C9=JJ(¨HMMHJ
UG9>9=J)ÄA>9F:AC)cFGB

Kã§

III
-.%'!,4*(0*3%*&.(3%"*0,á(6.),4*
XUXQTVU]\Y(XYR(ZQW[\YR(_V`QW[˜`YR(
bS`YU[W(ZQW[\Q[YR(XUXQTVUTR
Kãå

Kãã

6;8;?.BFID>;?#
THAT’S NOT WHAT I SAID!''
-{/a,1Y1)XZÅ10a,1Y1)X*'{ZX)3Z[-3§*'4'X*/)*[1'
a3*`0*)1{-'-X`,-/{Z`'û-§1{*
^s(hr(nìi(pr(opr(ns(êi(nìr(ièj(ñîs(gsh(ni(mk(sv(ñîs(gsh(ni(èm(vl(ns(èr(gs(ìi(ìik(nr(ìi(mk(mjnmu(nsó(hi(vr(jrL
upi(vi(ni(ñpro(vr(hsê(èi(vs(jîsJ(\(pr(kl(jiP(l(mèus(pl(mumo(ñs(hr(nìrP(ñm(jiw(nm(pr(vr(hpr(òi(nm(vin(
jèr(îrp(nsó(sn(òi(pin(gs(ìr(nr(mjnm(ul(pr(l(vi(ur(nìr(ni(km(umîì(nm(sn(òmp(vr(hsu(nsó(sj(èr(r(j(îm(osê(èsv(
mñi(pr(hm(ps(vr(=F)P@P(FG(s(P9;J>J(^p(us(kim(pr(kr(ìi(hi(m(psì(jès(ljvi(pinP(kr(ìl(ís(lñm(pi(krn(ñpi(oîik(
sv(ñîs(èr(hlp(ni(s(ièj(ñîs(èr(hlp(ni(rnr(îs(i(musó(ìi(sê(èsó(òi(nm(vi(nrJ(Xpl(os(kim(ìi(ièj(ñi(ps(vin(hr(îrn(
s(s(nm(js(pi(lî(hr(hi(lñsh(ns(èr(èm(ìs(ìi(pr(⁄in(jr(jhl(kin(hs(vr(rn(oîs(jhs(èi(nr(bs(îm(îm(éèmLlvih(nsê(èmv(
òr(èlî(hi(hl(l(üpr(ol(ìiu(glJ
YCE

o9GEA:A)o9WRFQ9ûr8A)>

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
mO'-{/'a,1'Y1)'XZÅ10'a,1'Y1)'X*'.1'/)1X{'Y1'û*'4',1X'`[1'/)1¢'{Zû'1'
{Z`'X1')1['XZû'a3*`'0*')1'Y1
^s(hr(nìi(jèr(îrp(nsó(sv(ñîs(èr(hl(prP(èrm(s(ñpm(wîi(vs(èm(ìs(ji(ìr(uîìr(ìl(l(ui(s(j(mjhr(îsv(
nr(ui(ki(nsv(ñs(hr(nìs(vrP(svr(ìl(èm(pi(ni(l(nr(ês(nl(nr(èm(ìs(jl(km(vs(nrnh(ni(ñpro(vr(hsê(èi(
hi(m(ps(ìi(ki(û(ns(jr(îi(ièj(ñîs(gsh(nl(s(sv(ñîs(gsh(nl(èm(vl(ns(èr(gs(ìlJ(Sum(ìiP(mñihP(l(jñpi(s(j(oprL
ns(gmv(èm(ìr(ji(ñm(uîr(ês(s(vi(⁄l(ji(vrn(hs(èi(¨ìi(sê(èmo(èm(ks(pr(nìr(s(ñpro(vr(hs(èi(¨èmo(nsL
hsu(nsóP(sn(òi(pin(gs(ìrî(nsó(ñpm(gi(jrJ(\(mumv(ki(îl(ñm(ìik(nm(jhr(uîìi(nm(pi(s(vs(pr(vm([prì(jmu(
vm(kiî(¨[ps(gi(KIäI(s(vm(kiî(hi(m(ps(ìi(pi(îi(urn(gs(ìi(¨Rñip(wip(rnk(©sî(jmn(KIäã£IåJ
Urèm( jl( mwr( vm(ki(îr( l( mjnm(us( sn(òi(pin(gs(ìrî(nrP( vi(⁄l( nìs(vr( ñm(jhm(ìi( jl(éhsn(jèi(
pr(îs(èiJ(õr([prì(jr(ìi(èm(vl(ns(èr(gs(ìr(ws(îr(èm(m(ñi(pr(hsu(ns(rn(or(ëvrn(pr(gs(m(nrî(nsó(jrL
om(ump(ns(èrP(èm(ìs(ji(pl(èm(um(ki(èm(m(ñi(pr(hsu(nsv(ñpsn(gs(ñmv(s(èmn(uip(r(gsì(jèsv(vrèL
js(vr(vrJ(Un(òi(pin(gs(ìrP(èm(ìr(ìi(jui(jni(ñps(pm(ki(s(nl(ënm(ñmk(îi(ëi(èrî(èl(îr(gs(ìsP(jum(ks(ji(
nr(sv(ñîs(gsh(nl(èm(vl(ns(èr(gs(ìlJ(Vi(m(ps(ìr(pi(îi(urn(gs(ìi(ñps(óur(hr([prì(jmu(sn(òi(pin(gs(ìrî(ns(
ñps(jhlñP(nr(jñprv(km(hr(kr(ñpi(uîr(kr(ur(ìl(íio(èmk(nmo(¨sîs(ji(vs(m(hsê(èmo(vm(ki(îrP(rîs(
or(nr(êrì(nm(és(psJ(Xmè(ìi([prìj(loîru(nmv(mjhrm(èmk(ns(hi(m(pi(hs(êrp(nr(ns(uml(mnmo(
éhm(ji(ièj(ñîs(gsh(nm(èr(ëi(¨rèm(s(l(vi(vm(ñpm(gi(ji(pr(kum(nr(êr(ur(nìr(s(km(ki(îìs(ur(nìr(
pi(òi(pin(gs(ìiP(km(hîi(hi(m(ps(ìr(pi(îi(urn(gs(ìr(ski(kr(îìiP(hi(lum(ks(sn(òi(pin(gs(ìrî(ni(ñpm(gi(ji(s(l(
ièj(ñîs(gsh(nl(èm(vl(ns(èr(gs(ìl{(èm(vl(ns(èr(gs(ìr(ns(ìi(jhurp(èm(m(ñi(pr(hsu(nm(jhsP(sîs(ns(ìi(l(vi(ps(
l(èm(ìmì(ìi(hm([prìj(r(jhl(ñrmP(ni(om(ìi(ñs(hr(nìi(pi(îi(urn(gs(ìiP(hm(ìijhP(rlhm(vrh(jèsóP(niL
jui(jnsó(ñpm(gi(jrJ H
H(
(õr(ñpr(um(ji(vm(kiî(hi(m(ps(ìi(pi(îi(urn(gs(ìi(r(jns(ur(nr(jñi(gs(ûê(nmv(ñps(jhl(ñl(îìlk(jèmì(èmo(ns(gs(ìs(¨êi(or(
ni(vr(l([prì(jm(umv(vm(ki(îlJ(\èprh(èmP(èmo(ns(hsu(ns(ñpm(gi(js(skl(èr(vrè(js(vs(r(gs(ìs(pi(îi(urn(gs(ìiP(èrm(
jumì(jhul(jhs(vl(îrn(jr(èm(ìs(ji(mw(pr(⁄l(ìi{(jhs(vl(îrnj(¨nñpJ(sj(èr(l(uip(wrî(nmì(èm(vl(ns(èr(gs(ìs(ìi(pi(îi(urnL
hrn(èr(kr(kr(ìi(mk(pi(⁄i(ni(èmo(ns(hsu(ni(iòiè(hiJ(ümo(ns(hsu(ns(iòi(èrh(ìiP(mñihP(pi(lî(hrh(jr(kiì(jhur(ñm(kr(hèr(
èm(ìs(jhs(vl(îrnj(km(nm(js(s(ñm(kr(hèr(èm(ìi(ìi(uií(ñps(jl(hrn(l(èmo(ns(hsu(nmv(js(jhi(vlJ(Vps(jl(nr(ês(nr(nr(èm(ìr(
ji(mum(mjhur(pl(ìi{(nm(us(ñm(kr(hrè(vm(ëi(kr(ñm(hup(ks(s(hs(vi(mìr(êr(ñm(jhm(ìi(ísP(kr(or(ñm(ns(éhs(ljîik(èmnL
hpr(ksè(hmp(nm(jhsP(s(kr(ji(j(nìsv(èmv(ws(nl(ìi(pr(ks(ñm(jhs(r(nìr(èmn(hiè(jhl(rî(nsó(sv(ñîs(èr(gs(ìrJ(Rhs(vl(îrnj(íi(
ws(hs(pi(îi(urnh(ns(ìs(lèm(îs(èm(kr(ìi(us(éi(èmo(ns(hsu(nsó(iòi(èr(hrJ(ôi(⁄l(hsvP(èmo(ns(hsu(ns(iòiè(hs(ñm(uîr(êi(s(nr(ñmp(
l(mw(pr(ks(ñr(íi(pi(îi(urn(gs(ìr(jhs(vl(îrn(jr(mñr(kr(hs(j(nr(ñm(pmvJ(Sum(ìi(jr(ëi(hm(l(èmo(ns(hsu(nmv(ñpsn(gs(ñl(
pi(îi(urn(gs(ìiP(ñpi(vr(èm(ìiv(ñm(ìi(ks(nrg(mwpr(ír(ñr(ënìl(nr(mnrì(jhs(vl(îrnj(èm(ìs(l(kr(hsv(mèmî(nm(jhs(vr(
ñpl(ër(nrì(ui(íi(èmo(ns(hsu(ni(iòiè(hi(l(nrì(vr(nìs(nr(ñmpJ(üm(vl(ns(èr(gs(ìrP(nr(pm(ês(hm(uip(wrî(nrP(svr(ñm(jiL
wrn(jhr(hljP(ìip(ñm(ês(ur(nr(nr(vi(psJ(\(om(ump(ns(èm(umv(sn(hi(pi(jl(ìi(kr(jr(om(ump(ns(èl(ñpl(ës(pi(îi(urn(hrn(
sj(èr(¨hìJ(sj(èr(èm(ìs(íi(mjhur(ps(hs(èmo(ns(hsu(ni(iòiè(hi(l(vs(ns(vr(îrn(nr(ñmpJ(Sum(ìi(jr(ëi(hm(l(èm(vl(nsL
èr(hsu(nmv(ñpsn(gs(ñl(pi(îi(urn(gs(ìiP(ñpi(vr(èm(ìiv(èm(vl(ns(èr(hsu(ns(jhs(vl(îrnj(¨mjsv(rèm(ns(ìi(ñps(èps(uin(sîs(
jîl(êr(ìrn(or(prn(hl(ìi(pi(îi(urn(gs(ìlJ(Uj(èr(ji(jvr(hpr(mñ(hs(vrî(nm(pi(îi(urnh(nsv(lèm(îs(èm(ìiP(j(ìik(ni(jhpr(niP(
km(umîì(nm(pi(îi(urn(hrn(kr(r(upi(⁄l(ìi(jr(om(ump(ns(èm(ul(ñr(ënìl(¨hìJ(pi(îi(urnh(ns(ìs(mk(ws(îm(èmo(kpl(omo(jhsL
vl(îrn(jr(l(kr(hmv(hpi(nlh(èlP(r(j(kpl(oi(jhpr(niP(nrì(pi(îi(urnh(ns(ìs(vm(olí(ñpi(vr(om(ump(ns(èm(usv(jñm(jmwL
nm(jhs(vr(s(jèîm(nm(jhs(vrJ(Xr(èîiP(l(hl(vr(êi(nìl(sj(èr(r(ski(ji(rlhm(vrh(jès(èr(mñ(hs(vrî(nmì(pi(îi(urn(gs(ìsJ(
Un(hip(ñpi(hr(hsu(ni(ós(ñm(hi(i(ji(pr(vr(hpr(ìl(ñpi(vr(jhi(ñi(nl(ñps(jhl(ñrê(nm(jhs(¨jîi(ks(ji(ñlh(nrì(vr(nìio(nrL
ñm(pr(s(èr(kr(ji(km(⁄i(km(sn(hip(ñpi(hr(gs(ìi(èm(ìr(r(km(um(îìr(ur(pi(îi(urn(gs(ìl(èm(ìl(ìi(jr(om(ump(nsè(mêi(ès(urmP(
ñpm(gij(ji(r(l(jhr(uîìr(¨sîs(ñpi(ès(kr(lèm(îs(èm(hr(èui(sn(hip(ñpi(hr(gs(ìi(ni(vrJ(((((
KãI

o9GEA:A)o9WRFQ9ûr8)9=)P@)A:>P(jr(jhm(ìs(ji(s(mnmo(éhm(om(ump(nsè(èr(ëi(¨gJA>)9=)=A9H(s(
mnmo(éhm(om(ump(nsè(sv(ñîs(gs(pr(¨gJA>)9=)9P)BC9)bA)>@HJ(Ri(vrn(hs(èr(sj(èr(r(ìi(mnm(éhm(
ji(èr(ëiP(kr(èîiP(sjhs(nm(jnm(ljîm(uîìin(jr(kp(ërì(sj(èr(rP(sîs(ñpm(ñm(s(gs(m(ns(kim(mjnmu(nmo(
om(ump(nmo(ês(nr(¨hup(⁄i(nìrP(ñs(hr(nìr(sîs(nr(pik(wiJ(\(jhur(psP(km(îr(s(km(s(ìik(nr(êr(ur(nìr(
!"#$%&'()(*"*(+,-."/)0"1%2,-."345".6.78("98%:,8&,";'6%9%5";-;")9=)P@A:>45"
mnmo(éhm(ji(èr(ëi(s(èmn(uin(gs(m(nrî(nmo(¨èm(ks(pr(nmo(ìi(sê(èmo(nr(êi(nìr(¨wl(kl(ís(kr(jl(
'%'1(&;" '," ;9" (8() 9=) =A9H4" ;" (8(@H40"
ìi(ks(ns(ñpro(vr(hsê(ès(ñpm(gi(js(èm(ìs(lêi(jhul(ìl(nr(ñîr(nl(ièj(ñîs(gsh(ni(èm(vl(ns(èr(gs(ìi(prL
@,*%81;6%" ;'6%9%" &," (8(" =1(" '," 6%>,5" +%6-,5" ;'1;8('8(" .'-()-&,8" '%+$>%&" ;'6%9%5" ;-;" 7$(7(9;?;(8;" +,("
kum(nr(êr(ur(nìi(s(km(ki(îìs(ur(nìi(pi(òi(pin(gs(ìiJ(^pro(vr(hs(èl(sj(èr(r(ês(ni(èmn(uip(r(gs(m(ni(
('8()8(;"$,-,)%81%8";'6%9"/1&0";'6%9"6(&;"B,"('1)%$;1;"6(

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
pr(ur(nr(mk(jhpr(ni(om(ump(ns(èr(ñm(jhr(ìi(mjnmu(nr(ièj(ñîs(èr(hl(pr(sj(èr(r(¨@ñ)BC9)bA)>A)9C)P@:>=(s(èmn(uip(r(gs(m(nsó(sv(ñîsL
èr(hl(pr(¨bF:)Q@G)=A)>9)F):AC)9P)BC9)bA)>=¬
( Vmv{(U(kmnfh(pi(rîîï(om(hm(vl(js(grî(gm(vi(ks(ijJ
( rJ(8@=)H9ñ)cFP)PA:)H@)P@:>=(sj(r(vl(js(grî(gm(vikïJ
KâK

o9GEA:A)o9WRFQ9ûr8l)PA:el)=F)P@·P(FG(¨ A:Hl)FG·(sîs(BF=)=9)fC@(
¨ b@G)>A9:l)C9)R@Cel)BF=)=9)fC@·{
¨K( Rm(vi(mò(hói(rg(hmpj(km(um(s(gi(m(uip(rnk(nrp(pr(hsmn(mpè(òmp(rkuip(hs(ji(vinhjJ
( ¡Œ(Wmh(rîî(mò(hói(rg(hmpj(km(um(s(gi(m(uip(rnk(nrp(pr(hsmn(mpè(òmp(rkuip(hs(ji(vinhjJ
KâH
( wJ(Vmv(órjnfh(jiin(8@=)H9ñ)cFP)PA:)H@)P@:>=J
( gJ(ÄF)>G@)^A)P@)H@)OA)G9=(sj(r(vl(js(grî(gm(vikïJ
( kJ(Vmv(órjnfh(jiin(ÄF)>G@)^A)P@)H@)OA)G9=J
( Xmè(ws(ji(ñpm(ñm(s(gs(ìi(wJ(s(kJ(hs(ñsê(nm(jvr(hpr(îi(ji(vrn(hsê(èsv(sv(ñîs(èr(gs(ìr(vr(Vm(vm(umo(sj(èr(r(l(ñp(umv(
ñps(vi(plP(km(hîi(ws(ji(ñpm(ñm(s(gs(ìi(wJ(s(kJ(jhrn(krpk(nm(hpi(hs(pr(îi(èrm(èmn(uip(r(gs(m(ni(sv(ñîs(èr(hl(pi(Vm(vm(umo(
sj(èr(r(l(kpl(omv(ñps(vi(plJ(ôi(⁄l(hsvP(mwr(sj(èr(r(jiP(ñpi(vr(hi(m(ps(ìs(pi(îi(urn(gs(ìiP(sn(hip(ñpi(hs(pr(ìl(nr(sjhs(
nr(êsnJ(Xr(ws(sj(èr(s(ws(îs(pi(îi(urnh(ns(èrm(mk(om(um(ps(nr(ñs(hr(nìr(èm(ìr(ìi(emón(ñm(jhr(usmP(vm(pr(ji(ñps(jhl(ñs(hs(
ñpih(ñm(jhru(èr(vr(rJ(kr(ws(ji(km(ws(îs(r(èîìlê(gs(wJ(\(ñp(umv(ñps(vi(plP(emón(ñps(jhl(ñr(in(gs(èîm(ñi(ksì(jèmv(
lîr(l(r(gui(íiP(km(îr(s(km(ñpih(ñm(jhru(èi(kr(jl(pl(ëi(gui(íiP(s(nr(mjnm(ul(ièj(ñîs(èr(hl(pi(Vm(vm(umo(sj(èr(rP(
s(um(ks(r(èîìl(êrè(kJ(\(kpl(omv(ñps(vi(plP(emón(ñpm(ui(pr(ur(jum(ìi(nr(nìi(m(mñi(pi(hr(vrP(s(um(ks(ñpih(ñmL
jhru(èl(m(mñi(pi(hs(ÄF)>G@)^A)P@)H@)OA)G9=(s(nr(mjnm(ul(ièj(ñîs(èr(hl(pi(Vm(vm(umo(sj(èr(rP(km(îr(s(km(r(èîìlêL
èr(kJ(Xpl(osv(pi(ês(vrP(ñpm(ñm(s(gs(ìi(rLkJ(s(ñp(umo(ñps(vi(pr(hr(èm(⁄i(jl(sv(ñîs(èr(hl(pi(¨ñpih(ñm(jhru(èi(rJ(s(gJ(
jl(sv(ñîs(gs(pr(ni(ñpi(vs(jiP(kmè(jl(ñpih(ñm(jhru(èi(wJ(s(kJ(sv(ñîs(gs(pr(ns(r(èîìlê(gsJ(ei(ks(nr(pr(îs(èr(s(vi(⁄l(
ñpih(ñm(jhru(ès(rJ(s(wJ(nr(jñprv(ñpih(ñm(jhru(èr(vr(gJ(s(kJP(l(mwr(ñps(vi(prP(ìi(l(hm(vi(éhm(ji(ñp(us(jèlñ(ñpihL
ñm(jhru(ès(nl(ënm(vm(pr(s(ui(jhs(èr(èm(ws(ji(Vm(vmu(sj(èr(lmñ(éhi(pr(l(vimJ(Xr(èîiP(piê(ìi(m(pr(îs(gs(s(vi(⁄l(
ìr(èsó(s(jîr(wsó(sv(ñîs(èr(hl(prJ((((
ã( ( Urèm(s(îr(s(s(mèus(pr(mumo(pr(krP(vm(pr(vm(wr(piv(jñm(vi(nl(hs(s(hpi(ís(lhs(gr(ìrn(ñps(jhlñ(ièj(ñîs(gsh(nmLsvL
ñîs(gsh(nmì(èmn(hpm(uip(sJ(ôs(jîs(vmP(ñpi(jui(orP(nr(ìmé(ìik(nlP(mumo(ñl(hr(pr(ks(èrî(ns(ìlP(pr(pr(kl([prì(jm(umo(
vm(ki(îrP(arg(óm(ui((sv(ñîs(gs(hl(pi(¨9P)BC9)b9)>

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
¨H( el(îsi(Qn(kpij(sîî(jsno(mp(krn(gi(hm(nsoóhJ
( ¡Œ(el(îsi(Qn(kpij(sîî(nmh(wmhó(jsno(rnk(krn(gi(hm(nsoóhJ
¨ç(( Uh(sj(ñmj(js(wîi(hórh(Ws(gm(îi(üsk(vrn(sîî(sn(hói(SjgrpJ
( ¡Œ(Uh(sj(nmh(gip(hrsn(hórh(Ws(gm(îi(üsk(vrn(sîî(sn(hói(SjgrpJ
Snm(ñm(êi(vl(ji(jèr(îrp(ni(sv(ñîs(èr(hl(pi(s(kur(ìr(ìl(l(r(jiw(nl(ñmk(opl(ñl(oi(ni(pr(îsL
m(ur(nsó(sv(ñîs(èr(hl(pr(ìi(jhi(r(jnm(ur(nmjh(nr(uií(ñm(jhm(ìi(ísv(ìi(sê(èsv(jèr(îr(vrP(èm(ìi(
ês(ni(jèl(ñm(us(rî(hip(nr(hsu(nsó(s(pr(r(prn(os(pr(nsó(ñpi(vr(jhi(ñi(nl(sn(òmp(vr(hsu(nm(jhs(¨sîs(
wpm(ìl(îm(osê(èsó(sv(ñîs(èr(gs(ìr(èm(ìi(oi(ni(ps(pr(ìlJ â (\(jhur(psP(jèr(îrp(ni(sv(ñîs(èr(hl(pi(skl(l(
mwp(nl(hmv(jvi(pl(mk(îm(osê(èsó(sv(ñîs(èr(gs(ìrP(ês(vi(jiP(mñihP(up(és(jhpm(om(pr(opr(ns(êi(nìi(
ñpro(vr(hsê(èsó( òi(nm(vi(nrP( èm(ìs( jlP( jhm(orP( ñm(ns(éhs(us( wi( èmn(hpr(ksè(hmp(nm(jhsP( mk( jiL
vrn(hsê(èsó(òi(nm(vi(nrP(ês(ìi(ñm(ns(éhi(nìi(lhs(êi(nr(ljîm(ui(sjhs(ns(hm(jhsJ(^pi(vr(dmp(nm(umì(
ós(ñm(hi(sP(rèm(om(ump(nsè(èm(ps(jhs(l(sj(èr(l(ji(vrn(hsê(ès(jîr(ws(ìs(s(pr(s(hs(vi(èp(és(ñp(ul(
vrè(js(vl(èurn(hs(hi(hrP(mn(r(ñpr(um(sv(ñîs(gs(pr(kr(ìi(ñpm(ñm(s(gs(ìr(sj(èr(r(j(ìr(êsv(s(prL
mv(ni(s(jhs(ns(hrJ(Wr(ñps(vipP(nr(jèr(îs( ACCl)PF=>l)PA:el)=F)P@·P(ACC(ìi(ji(vrn(hsê(ès(ìr(ês(
s(pr(ìip(îm(osê(ès(sv(ñîs(gs(pr(=F)P@P(kmè(mwp(nl(hm(ni(ur(ës{ ä
¨§(
rJ(Qîî(mò(hói(rg(hmpj(km(um(s(gi(m(uip(rnk(nrp(pr(hsmn(mpè(òmp(rkuip(hs(ji(vinhjJ
wJ(Rm(vi(mò(hói(rg(hmpj(km(um(s(gi(m(uip(rnk(nrp(pr(hsmn(mpè(òmp(rkuip(hs(ji(vinhjJ
gJ(Wmh(rîî(mò(hói(rg(hmpj(km(um(s(gi(m(uip(rnk(nrp(pr(hsmn(mpè(òmp(rkuip(hs(ji(vinhjJ
^pm(ñm(s(gs(ìr(¨§r(ìi(sn(òmp(vr(hsu(ns(ìr(mk(ñpm(ñm(s(gs(ìi(¨§w(s(ji(vrn(hsê(ès(ìi(sv(ñîs(gsL
prJ(^mk(ñpih(ñm(jhru(èmv(kr(ji(om(ump(nsè(sj(èr(r(¨§r(ñps(kp(ër(ur([prì(jm(ui(ñp(ui(vrèL
js(vi(èurn(hs(hi(hrP(ñpi(vr(èm(ìmì(sj(èr(¨§r(hpi(wr(kr(wl(ki(mnm(îs(èm(sn(òmp(vr(hs(urn(èm(îs(èm(
ìi(ñm(hpiw(nm(¨l(kr(hmì(pr(vi(nsP(jr(om(ump(nsè(íi(jhrn(krpk(nm(mêi(ès(ur(hs(kr(om(ump(nsè(
lñm(hpi(ws(sj(èr(¨§rP(mjsv(rèm(hs(vi(ni(èp(és(nrk(vrè(js(vl(èur(îs(hi(hrP(kr(om(ump(ns(èmu(
sj(èr(hpi(wr(kr(wl(ki(sjhs(nshJ(ür(èm(om(ump(nsè(ns(ìi(lñm(hpi(wsm(sj(èr(¨§r(ni(om(ji(mñpiL
ki(îsm(r(sj(èr(¨§wP(jr(om(ump(nsè(íi(r(èîìl(ês(hs(kr(om(ump(nsè(sv(ñîs(gs(pr(ñpm(ñm(s(gs(ìl(
¨§gP(èm(ìmv(ni(os(pr(ñpm(ñm(s(gs(ìl(¨§rJ((((
Sjnmu(nr(r(vip(èr(dmp(nm(umì(ós(ñm(hi(sP(èm(ìl(lñl(íl(ìl(r(om(ump(ns(gs(hi(m(ps(ìi(pi(îiL
urn(gs(ìiP(mk(nm(js(ji(nr(ni(l(uip(îìs(umjh(mur(èumo(hl(vr(êi(nìr(s(èmo(ns(hsu(ni(s(pr(umì(ni(
ñip(jñiè(hs(uiJ(Wr(s(viP(èm(vl(ns(èr(gs(ìr(ws(l(hmv(jîl(êr(ìl(ws(îr(jñm(pr(s(¨èmo(ns(hsu(nm(jèlL
ñrP(ìip(ws(lêi(jns(gs(l(pr(om(um(pl(vm(pr(îs(kr(lvl(l(mw(sp(ni(jr(vm(mnm(éhm(om(ump(nsè(
èr(ëi(l(kr(hmv(èmn(hiè(jhlP(ni(om(s(mnm(éhm(ìi(om(ump(nsè(vm(orm(kr(èr(ëi(r(sñrè(ns(ìi(
¨Wm(uigè(rnk(Rñip(wip(HMMâ{(KäâJ(((
â( ( õr(pr(îs(èl(mk(èmn(hiè(jhl(rî(nm(mji(hîìs(usó(ñrp(hs(èl(îr(ps(m(ur(nsó(sv(ñîs(èr(hl(prP(oi(ni(pr(îs(m(ur(ni(sv(ñîs(èr(hl(pi(
ji(oi(ni(ps(pr(ìl(ni(r(us(jnm(mk(om(ump(ns(èm(ui(nr(vi(piP(lñm(hpi(wmv(s(ui(jnsó(îiè(jsê(èsó(mw(îs(èr(èm(ìs(luièP(sîs(
lmws(êr(ìi(nmP(oi(ni(ps(pr(ìl(kr(hs(hsñ(sv(ñîs(èr(hl(pi(¨ñmk(ñpih(ñm(jhru(èmv(kr(só(èmn(hièjh(ni(ñm(ns(éhsJ
ä( ( Ujhm(ìi(s(j(ni(or(gs(ìmvæ(nr(ñps(vipP(:F>)=F)P@(èmn(uip(r(gs(m(nm(sv(ñîs(gs(pr(ACCJ((
Kâç

Kâ§
o9GEA:A)o9WRFQ9ûr89)P@=·(ws(îm(kr(ji(pr(ks(m(pr(nsv(ñproL
vr(hsê(èsv(jèr(îr(vr(¨nñpJ( bFCHl)bFFCl)Cl);FFHl)ZY·P( AHF)G@l)CF)Q@l)C9)R@·J(
KM( (^pm(gij(òmp(vs(pr(nìr(èmn(giñ(hr(AH)JFb(r(jns(ur(ji(nr(ós(ñm(hi(s(m(ìi(sê(èmìP(sîs(ji(vrn(hsê(èmìP(ñmk(ki(hipL
vs(nr(gs(ìsP(ñpi(vr(èm(ìmì(ji(ìr(s(vi(⁄l(ìi(sê(ès(èm(ks(pr(ni(îm(osê(èi(òmp(vi(s(ièj(ñîs(èr(hl(pi(ñpi(vm(éíl(ìi(
ñpro(vr(hsê(èmv(sn(òi(pin(gs(ìmvJ(Vm(nr(ês(kr(km(îr(s(km(ñpro(vr(hsê(èmo(vm(kl(îs(pr(nìr(îiè(jsê(èmo(èmn(giñL
hr(èm(ìs(ji(ìr(uîìr(l(îm(osê(èmì(òmp(vs(sj(èr(r(hr(èm(kr(ji(èmn(giñh(èm(ìs(om(ump(nsè(jr(mñ(éhr(ur(¨r(jr(om(ump(nsè(
hl(vr(ês(nr(mjnm(ul(lñm(hpi(wîìi(nmo(ìi(sê(èmo(s(pr(r(km(ni(èîi(pr(îs(èl(ìi(mk(èm(ks(pr(nmo(èmn(giñ(hrJ(Vps(jl(
nr(ês(nr(nr(èm(ìr(jr(mñ(éhi(ns(èmn(giñh(mk(jhl(ñr(mk(èm(ks(pr(nmo(èmn(giñ(hr{(jl(ër(ur(nìi(¨ìr(êr(nìi(èmn(giñ(hrP(
és(pi(nìi(¨jîr(wîìi(nìi(èmn(giñ(hr(s(mk(ìi(ès(ur(nìi(èmn(giñ(hr(¨Ri(úl(i(s(pmj(HMMKP(Trp(jhmn(HMMHJ((
11( ( cs(ki(hs(òl(jnm(hl(åJ(Trp(jhmn(¨HMMH(hm(sîl(jhpl(ìi(jîi(ki(ísv(ñr(pmv(ñps(vi(pr(8(l(ñp(umv(ñps(vi(pl(ji(vrnL
hsê(èr(sv(ñîs(èr(gs(ìr(sjhm(upi(vi(nm(ìi(s(èmn(uip(r(gs(m(nr(sv(ñîs(èr(hl(pr(kmè(l(kpl(omv(hm(ns(ìi(jîl(êrì{

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
Uîl(jhpr(gs(ìi(pr(ksP(upr(hs(vm(ji(ñps(vi(pl(èurn(hs(û(èr(hm(pr(=F)P@J(\(ji(vrn(hsê(èmv(jvsL
jîlP(ièj(hin(s(ìr(s(pr(r(=F)P@)Fi)>J@)§=(jr(jhm(ìs(ji(mk(jèl(ñr(ñmk(jèl(ñm(ur(èm(ìs(jl(mviL
⁄r(ns(km(nìmv(¨wr(piv(kur(s(omp(nìmv(opr(ns(gmv(¨nìs(ómu(lèl(ñrn(wpmìJ(ür(kr(ji(s(pr(
=F)P@)Fi)>J@)§=(lñm(hpi(ws(l(èmn(hiè(jhlP(km(îr(s(km(ñm(ki(ér(ur(nìr(îiè(jsê(èmo(nr(êi(nìr(
kr(ws(ji(km(wsm(jr(mñ(éhi(nsP(AH)JFbP(èmn(giñh(RS(ôY(Sb(VdY(¢j‹P(ês(ìr(ji(ki(nmL
hr(gs(ìr( pr(îs(èl(ìi( mk( ki(nm(hr(gs(ìi( ìi(sê(ès( èm(ks(pr(nmo( èmn(giñ(hr( RS(ôY( Sb(VdY( ¢jJ(
Rl(ër(ur(nìi(ièj(hin(s(ìi(jr(mñ(éhi(nmo(èmn(giñ(hr(vm(ëi(kr(wl(ki(nr(km(nìmì(sîs(nr(omp(nìmì(
opr(ns(gsJ(Rr(mñ(éhi(nm(nr(êi(nìi(®rh(îi(rjh(hm(rnk(òi(ip(hórn(rîîf(hs(ñsê(nm(ìi(jl(ër(ur(nìi(
wl(èurî(nmo(nr(êi(nìr(®rh(îi(rjh(hm(rnk(ñmj(jswîï(rîîf(nr(ns(uml(ièj(ñîs(èr(hl(pi(sj(èr(r(
hi(km(ñps(nm(js(ljîm(us(vr(sjhs(ns(hm(jhsJ(ôi(⁄l(hsvP(mnm(ns(ìi(rlhm(vrh(jèm(¨l(jvs(jîl(Zi(usnL
jm(nm(usó(sn(òi(pin(gs(ìr(uií(ji(mk(us(ìr(l(jèîr(kl(j(mêi(ès(ur(nsv(èmo(ns(hsu(nsv(iòiè(hs(vr(
sj(èr(r(¨nñpJ(rèm(ìi(pi(îi(urn(gs(ìr(sj(èr(r(èmn(hiè(jhl(rî(nr(sv(ñîs(èr(gs(ìr(kr(ìi(sj(èr(sjhs(nsh(
jr(vm(r(ni(èiP(rîs(ni(s(r(jui(êîr(nm(uiP(nr(êi(nìi(íi(ji(ñm(ki(js(hs(hr(èm(kr(sj(èîìl(ês(ACCJ(
^pm(wîiv(jèr(îrp(nsó(sv(ñîs(èr(hl(prP(ñpi(vr(vs(éîìi(nìl(r(om(ump(ns(èr(hi(m(ps(ìi(pi(îi(urnL
gs(ìiP(nr(jhr(ìi(ljîik(nim(l(m(êr(ur(nìr(pr(îs(èi(s(vi(⁄l(jîl(êr(ìi(ur(èr(kr(ièj(ñîs(èr(hl(pr(jr(vm(
ji(vrn(hsê(ès(sv(ñîs(gs(pr(®nmh(rîîfP(èrm(l(ñps(vi(pl(¨åP(s(mnsó(pi(⁄só(jîl(êr(ìi(ur(ñpr(usó(
sv(ñîs(èr(hl(prP(èr(kr(sj(èr(km(krh(nm(èmn(uip(r(gs(m(nm(sv(ñîs(gs(pr(®nmh(rîîfP(èrm(l(ñps(viL
pl(¨ã(¨ns(hsP(nr(oîr(js(îs(ws(jvmP([prì(jmu(hi(m(psì(jès(mèusp(hm(km(um(îìr(urJ(Xm(jèr(îrp(nsó(
sv(ñîs(èr(hl(pr(km(îr(s(jr(vm(èr(kr(ìi(lêi(jns(gs(vr(l(pr(om(um(pl(mês(hm(kr(ìi(ñm(hpiw(nm(ñpiL
s(jñs(hr(hs(s(m(jhr(nrè(sn(òmp(vr(hsu(ns(ìio(s(pr(r(¨ñm(êi(vl(ws(mn(krP(ñm(nr(éiv(vs(éîìi(nìlP(
jèr(îrp(ni(sv(ñîs(èr(hl(pi(jñr(kr(îi(l(vi(hr(ìi(sê(èi(òi(nm(vi(ni{(((
¨å(
Rig(pi(hrpï(hm(TYS{(Rm(vi(mò(hói(km(gl(vinhj(rpi(mn(ïmlp(kijèJ
Uv(ñîs(èr(gs(ìi{(Vói(TYS(jóm(lîk(jhrph(pi(r(ksno(hóivP(gmp(pig(hsno(hóivP(jso(nsno(
hóivP(ihgJ
¨ã( TYS{(Qpi(rîî(mò(hói(km(gl(vinhj(mn(vï(kijè¬
( Rig(pi(hrpï{(Rm(vi(mò(hóiv(rpiJ
( ¡Œ(ªQj(òrp(rj(hói(jig(pi(hrpï(sj(rr(pi(nmh(rîî(mò(hóiv(rpi(mn(hói(kijèJ((
( Q{(©sîî(hói(pi(wi(rnï(vin(rh(hói(ñrphï¬
( a{(ôï(wpmh(óip(sj(gm(vsnoJ
( ¯(®Q(vrn(sj(gm(vsno(hm(hói(ñrphïf
( ¡Œ(®Q(vrn(sj(gm(vsno(hm(hói(ñrphïf(
( Q{(©sîî(hói(ìlk(oi(rh(hink(ïmlp(opr(kl(r(hsmn(gi(pi(vmnï¬
( a{(difj(vï(òrh(óipJ
( ¯(®Vói(ìlk(oi(sj(r(vrnf
( ı(¡Œ(®Vói(ìlk(oi(sj(r(vrnf
Kâå

o9GEA:A)o9WRFQ9ûr89):9)>Fæ(èr(kr(ìi(nr(îmo(wsm(kr(=F)P@(nr(ês(®jm(vi(
wlh(nmh(rîîfP(hr(êrn(mk(om(ump(ìi(wsm(:@)9)=>9):9)>FJ(`i(lî(hr(hs(jl(ñm(èr(r(îs(kr(jl(sj(ñs(hr(ns(gs(
ws(îs(vr(nìi(ñpi(gs(ns(s(kr(sv(ìi(ws(îm(ñm(hpiw(nm(us(éi(upi(vi(nr(èr(kr(sv(ìi(hpr(ëi(nm(kr(
ñps(jhl(ñi(jèr(îrp(nmì(sn(òi(pin(gs(ìs(¨ñpm(gi(nrh(hrê(nsó(mk(om(um(pr(r(sn(hip(ñpi(hr(gs(ìl(®jm(vi(
wlh(nmh(rîîf(wsm(ìi(ãM«(nr(jñprv(äM«(km(IM«(hrê(nsó(mk(om(um(pr(r(sn(hip(ñpi(hr(gs(ìl(
®jm(vi(rnk(ñmj(jswîï(rîîfJ(((((
úO'0-')Z'.Z',Z'`1'û*')-'/)1'3*'Xû*'
Wr(ésv(hi(jhs(pr(nìiv(jl(mw(l(óur(íi(ns(jhl(kin(hs(hpi(íi(om(ks(niP(èm(ìs(jl(jîl(ér(îs(ñpikL
vih( ¥QFH) 9)R

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
jl(svr(îs(ìi(krn(mk(ji(vrn(hsê(ès(jîr(ws(ìsó(s(pr(r(=F)P@P(FG(sîs(P9;J>J(\ñsh(nsè(ji(jr(jhmL
ìrm(mk(ji(krv(nijh(ñs(hr(nìrP(mk(èm(ìsó(ji(éi(jnr(ijh((mk(nm(js(îm(nr(jèr(îrp(ni(sv(ñîs(èr(hl(piJ(
Rhl(kin(hs(hpi(íi(om(ks(ni(svr(îs(jl(nr(èpr(ìl(lñsh(ns(èr(kur(km(krh(nr(ñs(hr(nìr(èm(ìs(vr(ji(
ñpm(ui(pr(ur(îm(pr(l(vi(ur(nìi(¨s(ljur(ìr(nìi(mk(nm(jr(s(vi(⁄l(ji(vrn(hsê(èsó(s(ñpro(vr(hsêL
èsó(sv(ñîs(èr(gs(ìrP(kr(èîiP(up(jhr(sv(ñîs(gsh(nmo(nr(êi(nìr(nr(ês(ìiv(ji(km(jîik(nmv(pr(oprL
ns(êi(nìl(r(jns(ur([prì(jmu(ñps(jhlñ(uip(wrî(nmì(èm(vl(ns(èr(gs(ìsJ(
\ñsh(nsè(ìi(r(ñpr(um(wsm(jèlñ(r(kr(hr(èr(èm(ìs(jl(ji(r(jiw(nm(pr(ks(îs(l(pr(nsv(hi(jhsL
pr(nìs(vr(èm(ìr(ji(jñpm(um(ki(l(mèus(pl(ièj(ñi(ps(vin(hrî(ni(ñpro(vr(hs(èi(¨uJ(Wm(uigè(rnk(
Rñip(wip(HMM§P(HMMâJ(U(ñprè(hsê(nsó(pr(îm(orP(s(m(jhr(îm(ìi(ñm(jiw(nm(vi(pi(nìi(wp(s(ni(
mk(om(um(pr(nr(mni(r(krh(èi(èm(ìs(vr(ji(lhup(⁄l(ìi(wp(ës(sîs(jñm(ps(ìs(ñps(jhlñ(ñpro(vr(hsê(èmì(
sîs(ji(vrn(hsê(èmì(sn(hip(ñpi(hr(gs(ìs(¨l(jvs(jîl(jl(ñpmh(nsó(ñpik(us(⁄r(nìr(èm(ìr(kr(ìl(Zi(usn(jmL
nmu(vm(kiî(s(vm(kiî(hi(m(ps(ìi(pi(îi(urn(gs(ìiæ(sñrèP(hpi(wr(nr(ñm(vi(nl(hs(kr(hm(ns(ìi(ìi(ks(nr(
up(jhr(lñsh(ns(èr(èm(ìs(ji(pr(ki(l(ièj(ñi(ps(vin(hrî(nmì(ñpro(vr(hs(gsP(ns(hs(jl(mur(èus(r(kr(gsP(
wr(piv(r(ñm(hpi(wi(nr(éio(sj(hpr(ës(ur(nìrP(ws(îs(mk(ñpi(jlk(nmo(nr(êr(ìrJ(Wr(pru(nmP(ns(jvm(
l(ñmh(ñl(nm(jhs(r(ni(vr(ps(îs(òrè(hmp(wp(s(niP(ìip(jl(sj(ñs(hr(ns(gs(nr(îs(kr(svr(ìl(upi(vin(jèm(
mopr(ns(êi(nìi(l(s(pr(ks(lñsh(ns(èr(¨l(ñpm(ji(èl(kur(vs(nl(hr(ñm(ñs(hr(nìlP(éhm(ìi(pi(îr(hsu(nm(
èprh(èm(ls(vr(ìl(ís(l(mw(sp(ni(ñps(pmk(nmjh(s(èmo(ns(hsu(nl(jîm(ëi(nmjh(r(kr(hr(èrJ(Uj(ñs(hrL
ns(gs(vr(ìiP(hr(èm(⁄iP(nr(oîr(éi(nm(kr(r(krh(èi(pi(ér(ur(ìl(ñpi(vr(pi(km(jîi(kl(nr(um(⁄i(nìr(l(
lñsh(ns(èl(¨r(pr(îs(èl(mk(pi(lî(hr(hr(èm(ìs(jl(ñps(èr(r(ns(l(ki(îl(åJP(ñs(hr(nìr(l(ui(s(jr(jèrL
îrp(nsv(s(pr(s(vr(ws(îr(jl(ñm(vi(ér(nrP(r(kr(ìi(gsîì(lñsh(ns(èr(sj(ñs(hs(ur(nìi(nìs(óm(usó(sn(hl(sL
gs(ìr(r(ni(ñpm(ui(pr(nr(nìr(¨hìJ(ñpi(vr(r(m(èpl(ëi(nmv(mk(om(um(pl(èm(ìs(sv(ñp(us(ñrk(ni(nr(
ñr(vihæ(l(hmv(jvs(jîlP(sn(ks(èr(hsu(ni(jl(s(vr(îm(wpmì(ni(ñm(ñpru(èi(km(èm(ìsó(ìi(km(îr(s(îm(l(
s(ui(jnsv(r(kr(gs(vrJ(^s(hr(nìr(jl(ws(îr(ìik(nm(m(wpr(nr(s(nr(jpñ(jèmv(ìi(s(èl(¨®õr(m(èplL
ës(mk(om(ump(j(èm(ìsv(ji(jîr(ëiéf(kmè(jl(jr(vs(r(kr(gsP(èrm(s(ñm(nl(⁄i(ns(mk(om(um(psP(ws(îs(
nr(in(oîi(jèmv(¨>G9)RA)@:);C@)=RF;)E@)k9)RAP(èm(ìs(ji(ñpi(kr(ìi(nr(èmn(èlp(jr(s(ñpro(vr(hs(èiP(l(
ós(ñm(ns(vs(ìl(ji(km(krh(nm(mw(pr(⁄l(ìl(ji(vrn(hsê(èi(sv(ñîs(èr(gs(ìiJ(((((((((
Kââ

o9GEA:A)o9WRFQ9ûr8

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
O'3-'§4,')*')1')-'/)1'3*'Xû*
\èlñ(nm(ìi(lêi(jhm(ur(îm(ãH(sj(ñs(hr(ns(èr(j(hpi(íi(s(åä(sj(ñs(hr(ns(èr(j(kpl(oi(om(ks(ni(jhlL
ks(ìrJ(`i(lî(hr(hs(l(hr(wi(îr(vr(H(8(KH(ns(jl(kr(hs(l(ñpm(gin(hs(vr(uií(ji(nr(um(ks(ui(ísn(jès(
wpmì(mk(om(um(prJ
'OlO'So me
Vl(vr(êi(nìi(nr(êi(nìr(pi(ês(=F)P@(sj(ñs(hs(ur(îm(ji(l(êi(hs(ps(opl(ñi(r(kr(hr(èr{(U(¨Q(s(aP(UU(¨TP(
XP(YP(UUU(¨b(s([(s(Uc(¨br(s([rJ(^p(ul(opl(ñl(r(kr(hr(èr(ês(ni(sm(îm(ur(ns(sj(èr(s(ki(û(ns(gs(mL
ni(ñps(pm(kiP(èm(ìs(vr(ji(sj(ñs(hl(ìl(èr(hi(om(ps(r(gs(ìr(¨nñpJ(èr(hi(om(ps(ìr(PAP)PACP(ñmk(èr(hi(om(ps(ìr(
@C@B)JA:>(s(ñpm(hm(hsñ(¨nñpJ(;9)GAi)i@=)JA)Q@)CF:;):@bR=J(^m(nr(ur(nìi(pi(ês(s(pr(l(vi(ur(nìi(sjL
èr(r(ñpm(ui(pr(ur(ìl(ji(èmn(hpmî(nsv(ñs(hr(nìs(vr(¨Qç(s(¨QåP(ñs(hr(nìs(vr(j(èurn(hs(û(èr(hm(pmv(ACC(
l(ñmk(opl(ñs(¨aP(èrm(s(nim(wsê(nsv(èmn(hpmî(nsv(ñs(hr(nìs(vr(¨Qã(s(¨a§J(Xpl(ol(opl(ñl(r(krL
hr(èr(ês(ns(jèlñ(mk(hps(èurn(hs(û(èm(ur(nr(sj(èr(r(l(èmn(hiè(jhlJ(Sk(sj(ñs(hr(ns(èr(ji(hpr(ës(ñpm(gi(nr(
sj(èr(r(nr(mjnm(ul(èmn(hiè(jhrP(ñps(êi(vl(ji(sj(hrè(nl(hmjh(ìr(êio(hup(⁄i(nìr(¨sn(òmp(vr(hsu(ns(ìio(
sj(èr(r(jpr(vip(nm(ñm(ui(ír(ur(ñm(êiu(és(mk(r(krh(èr(T(hr(èm(kr(ìi(l(èmn(hiè(jhl(r(krh(èr(¨Y(
nrì(ìr(jns(ìi(kr(ìi(sj(èr(ni(km(umîì(nm(sn(òmp(vr(hs(urn(¨hìJ(èurn(hs(û(èr(hmp(ACC(ñm(jhr(ìi(us(kîìsuJ(
Vpi(ír(opl(ñr(r(kr(hr(èr(ìi(èmo(ns(hsu(nm(jîm(ëi(ns(ìr(s(jr(jhm(ìs(ji(mk(kui(ñmk(opl(ñi(r(kr(hr(èr(
l(èm(ìs(vr(ji(nr(um(ki(ñm(kur(èr(hi(om(psê(nr(sj(èr(rP(èrm(s(l(ñmk(opl(ñs(¨QP(rîs(mumo(ñl(hr(
l(lñlh(jhum(èr(èm(kr(sj(ñs(hr(ns(gs(hl(vr(êi(èurn(hs(û(èr(hmp(=F)P@{(l(ñmk(opl(ñs(¨b(nr(oîr(ér(ur(
ji(ji(vrn(hsê(èr(sn(hip(ñpi(hr(gs(ìr(¨®jm(vi(rnk(ñmj(jswîï(rîîf(kmè(ji(l(ñmk(opl(ñs(¨[(ñmk(jhsL
êi(ñpro(vr(hsê(èr(¨jèr(îrp(nr(sn(òi(pin(gs(ìr(¨®jm(vi(wlh(nmh(rîîfJ(i(hup(hr(opl(ñr(r(kr(hr(èr(ìi(
ur(ps(ìrn(hr(ñpih(ómk(ni(opl(ñiP(rîs(jl(jr(kr(èr(hr(om(psê(ns(sj(èr(s(lvih(nl(hs(l(sj(èr(i(us(éio(pi(kr(
¨vi(hr(pi(ñpi(in(hr(gs(ìi(èm(ìs(kr(ìl(jlk(m(sj(èr(s(vr(ns(ëio(pi(krJ(Sk(sj(ñs(hr(ns(èr(ji(hpr(ës(kr(ji(
jîm(ëi(sîs(ni(jîm(ëi(j(sj(èr(mv(us(éio(pi(krP(èm(ìs(kr(ìi(ni(or(hs(urn(jlk(m(sj(èr(l(ns(ëio(pi(krP(
ês(vi(r(kr(gs(¨br(s(¨[r(ñm(jhr(ìl(hi(ës(r(pi(ér(ur(nìiJ((((((
• U(opl(ñr(r(kr(hr(èr
A
hpi(ír(om(ks(nr
¨ãH(sjñshrnsèr
KJ(Rm(vi(iîiñ(órnhj(rpi(vrv(vrîj ni(s(jhs(ns(hm åH §ä
HJ(Rm(vi(vrv(vrîj(rpi(iîiñ(órnhj sjhs(ns(hm åã §I
çJ(Rm(vi(iîiñ(órnhj(rpi(sn(jighj ni(s(jhs(ns(hm ãK åä
§J(Rm(vi(os(prò(òij(ór(ui(îmno(nigèj ni(s(jhs(ns(hm åK §ã
åJ(Rm(vi(wspkj(îs(ui(sn(gr(oij sjhs(ns(hm ãH åâ
ãJ(Rm(vi(gpmj(ór(ui(pr(ks(mj ni(s(jhs(ns(hm ãH å§
Vr(wi(îr(H{(lñsh(nsè(s(pi(lî(hr(hs(¨sm(îm(ur(nsP(èr(hi(om(psê(ns(sj(èr(s
kpl(or(om(ks(nr
¨åä(sjñshrnsèr
KâI

a
o9GEA:A)o9WRFQ9ûr8

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
• UUU(oplñr(rkrhrèr
F
=FP@
®jmvi(rnk(ñmjjswîï(rîîf
ñmnl⁄ins(mkomumps
hpiír(omksnr
¨ãH(sjñshrnsèr
KJ(Rmvi(gmnopijjvin(rpi(ñmîshsgsrnjJ jîrëiv(ji §I §M
ni(jîrëiv(ji
HJ(Rmvi(iîiñórnhj(rpi(vrvvrîjJ jîrëiv(ji 41
ni(jîrëiv(ji 34
Vrwiîr(å{(lñshnsè(s(pilîhrhs(¨jiîièhsurn(èmnhièjh{(jivrnhsêèm(nrêinìi
[
=FP@
®jmvi(wlh(nmh(rîîf
ñmnl⁄ins(mkomumps
hpiír(omksnr
¨ãH(sjñshrnsèr
KJ(Rmvi(gmnopijjvin(rpi(ñmîshsgsrnjJ jîrëiv(ji åK çä
HJ(Rmvi(iîiñórnhj(rpi(vrvvrîjJ
ni(jîrëiv(ji
jîrëiv(ji
kplor(omksnr
¨åä(sjñshrnsèr
kplor(omksnr
¨åä(sjñshrnsèr
ni(jîrëiv(ji åä åH
Vrwiîr(ã{(lñshnsè(s(pilîhrhs(¨jiîièhsurn(èmnhièjh{(ñprovrhsêèm(¨jèrîrpnm(nrêinìi
• Uc(oplñr(rkrhrèr
br
=FP@
®jmvi(rnk(ñmjjswîï(rîîf
KJ(`mwiph(jrïj(hói(òmîîmsno(sj(òrîji{(
((((®Rmvi(gmnopijjvin(rpi(ñmîshsgsrnjfJ
HJ(`mwiph(jrïj(hói(òmîîmsno(sj(òrîji{((
((((®Rmvi(iîiñórnhj(rpi(vrvvrîjJf
ñmnl⁄ins(mkomumps
jîrëiv(ji
hpiír(omksnr
¨ãH(sjñshrnsèr
ni(jîrëiv(ji çã 33
jîrëiv(ji 31
ni(jîrëiv(ji
kplor(omksnr
¨åä(sjñshrnsèr
Vrwiîr( â{( lñshnsè( s( pilîhrhs( ¨vihrpiñpiinhrgsìr( l( jiîièhsunmv( èmnhièjhl{(
jivrnhsêèm(nrêinìi
çå
[r
=FP@
®jmvi(wlh(nmh(rîîf
KJ(`mwiph(jrïj(hói(òmîîmsno(sj(òrîji{((
((((®Rmvi(gmnopijjvin(rpi(ñmîshsgsrnjfJ
ñmnl⁄ins(mkomumps
hpiír(omksnr
¨ãH(sjñshrnsèr
jîrëiv(ji 43 33
ni(jîrëiv(ji
kplor(omksnr
¨åä(sjñshrnsèr
KäK

[r
=FP@
®jmvi(wlh(nmh(rîîf
HJ(`mwiph(jrïj(hói(òmîîmsno(sj(òrîji{((
((((®Rmvi(iîiñórnhj(rpi(vrvvrîjfJ
o9GEA:A)o9WRFQ9ûr8

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
vm(ëi(mw(ìr(jns(hs(nr(kur(nr(ês(nrJ(ei(krn(ws(wsm(kr(jl(sj(ñs(hr(ns(gsP(wi(pr(vs(éîìr(nìrP(ñmL
nr(uîìr(îs(mk(om(um(pi(s(ñpih(ómk(nmo(r(krh(èr(hi(r(ñpr(um(hl(vr(ês(îs(pi(ñpi(in(hr(gs(ìl(ns(ëio(
r(ni(us(éio(pi(kr(¨hìJ(jîr(or(nìi(jr(sj(èr(mv(hs(ñr(aF)P@)mf):F>)ACCn)v)AG@)jJ(ôi(⁄l(hsvP(
ni(ski(l(ñps(îmo(mur(èumv(mw(ìr(énìi(nìl(ês(nìi(ns(gr(kr(km(ñm(nr(uîìr(nìr(ns(ìi(km(îr(s(îm(l(
r(kr(gs(vr(¨[H(s(¨[rHJ(Rèîm(ns(ìs(jvmP(jhm(orP(kr(ñm(opi(éni(mk(om(um(pi(l(r(krh(èl(¨[K(
ñm(ui(ëi(vm(j(mk(nm(jmv(pi(ês(bF:);G@=)=P@:(L(BF)C9)>9)b9)A:=P(ês(ìi(ñm(nr(ur(nìiP(r(pr(îs(èl(
mk(mk(nm(jr(PAP)PAC(8(@C@B)JA:>P(ns(ìi(nl(ënm(nr(mjnm(ul(nr(nìr(m(jui(hl(¨hìJ(ñs(hr(nìi(
ñm(èîr(ñr(nìr(ièj(hin(s(ìi(pi(ês(bF:);G@=)=PA:(j(ièj(hin(s(ìmv(pi(ês(BF)C9)>9)b9A:J(Snm(éhm(ìi(
nrì(wsh(ns(ìi(èmk(musó(pi(lî(hr(hr(¨ñm(jiw(nm(l(r(krh(èl(¨[r(ìi(jhi(kr(mns(ñm(èr(l(ìl(èr(èm(
sj(ñs(hr(ns(gs(km(wpm(ñps(jhl(ñr(ìl(jèr(îrp(nsv(sn(òi(pin(gs(ìr(vrP(wr(piv(èr(kr(ìi(l(ñs(hr(nìl(èurL
ns(hsò(èr(hmp(=F)P@P(kr(èîiP(jl(ñpmh(nm(ñpm(gi(ns(pi(lî(hr(hr(pr(ns(ìsó(sj(ñs(hs(ur(nìr(¨uJ(Wm(uigè(
rnk(Rñip(wip(HMMâJ Kä (((((((((((
OmO'Or
Ri(vrn(hsê(èm(sîs(îm(osê(èm(nr(êi(nìi(ui(ns(èr(FG(ìi(sn(èîl(su(nm(¨®^(rnk(]fP(kmè(ìi(
ièj(èîl(su(nm(nr(êi(nìi(¨®¨Ysh(óip(^(mp(](¨wlh(nmh(wmhóf(pi(lî(hrh(jèr(îrp(nsó(sv(ñîsL
èr(hl(prP(ñpi(vr([prì(jm(umv(vm(ki(îlP(mk(nm(jnm(ñm(jîi(ks(gr(ñpro(vr(hsê(èmo(mwm(or(íi(nìr(
nr(ns(uml(ñpm(ñm(s(gs(ìi(sj(èr(rP(ñpi(vr(vm(ki(îl(hi(m(ps(ìi(pi(îi(urn(gs(ìiJ(\(Zi(usn(jm(nm(umì(
ñpro(vr(hs(gsP(sn(hip(ñpi(hr(gs(ìr(ksj(ìlnè(hsu(nsó(jsn(hro(vs(O)FG)‚(èrm(®nmh(¨^(rnk(]f(mwL
ìr(énìr(ur(ji(nr(mjnm(ul(rlhm(vrh(jèsó(sn(òi(pin(gs(ìr(¨ês(vi(ji(ñm(jñi(él(ìi(wp(s(nr(s(iû(èrL
jnmjh(l(èm(vl(ns(èr(gs(ìsJ(õr(om(ump(ns(gs(hi(m(ps(ìi(pi(îi(urn(gs(ìi(nr(um(ki((kur(rp(ol(vin(hr(èmL
ìr(ni(skl(l(ñps(îmo(Zi(usn(jm(nm(umv(mw(ìr(énìi(nìl(¨uJ(nñpJ(Wm(uigè(rnk(Rñip(wip(HMMâJ(
Uîl(jhpm(ur(íi(vm(hm(jîi(ki(ísv(ñps(vi(ps(vr{
¨â(
¨ä(
ôrï(sj(ürïfj(vmh(óip(mp(óip(js(jhipJ
brï(jvm(èij(mp(kpsnèjJ((
\(sj(èr(l(¨âP(jr(om(ump(nsè(íi(nr(hs(nr(mjnm(ul(nr(nìr(m(jui(hl(¨sîs(kpr(umo(pr(l(vr(
kr(kr(hs(ksj(ìlnè(hs(ni(vm(ol(sjhm(upi(vi(nm(kr(wl(kl(sjhs(ns(hsP(ñr(ws(oi(ni(ps(pr(nìi(jèr(îrp(ni(
sv(ñîs(èr(hl(piP(ljîik(pi(kln(krnh(nm(jhsP(nr(vi(hr(îm(nr(ñmp(wi(sèr(èumo(km(krh(nmo(iòiè(hrJ(
Uj(èr(¨äP(nr(ñpm(hsuP(ni(sj(èîìl(êl(ìi(lnr(ñpik(ns(sn(èîl(su(nm(ns(ièj(èîl(su(nm(hl(vr(êi(nìi(
KI( (^pi(vr(vrè(js(vs(èurn(hs(hi(hrP(om(ump(nsè(sn(òmp(vr(hsu(nm(jîr(ws(ìio(hup(⁄i(nìr(sv(ñîs(gs(pr(kr(ìr(êi(hup(⁄i(nìi(
ni(jhm(ìsJ(Xpl(osv(pi(ês(vrP(lñm(hpi(wr(ui(ns(èr(FG(sv(ñîs(gs(pr(kr(om(ump(nsè(ni(vr(km(èr(r(r(èmn(ìlnèL
gs(ìlJ(Qèm(jr(om(ump(nsèP(ñps(hmvP(jvr(hpr(kr(ws(om(ump(nsè(vm(prm(kr(nr(kr(îs(ìi(èmn(ìlnè(gs(ìr(sjhs(ns(hrP(
oi(ni(ps(pr(íi(ji(ìmé(ìr(êr(sv(ñîs(èr(hl(pr(kr(ìi(èmn(ìlnè(gs(ìr(ni(s(jhs(ns(hrJ(Vs(vi(jiP(l([prì(jm(umì(ñpro(vr(hs(gsP(
sn(èîl(su(nr(sn(hip(ñpi(hr(gs(ìr(ñpro(vr(hsê(ès(sj(èîìl(êl(ìi(nr(mjnm(ul(sv(ñîs(èr(hl(piJ(((((((
Käç

Kä§
o9GEA:A)o9WRFQ9ûr8

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
ãJ(Slp(ivñîmïiij(jñirè(
bpingó(mp(
((((RñrnsjóJ
®Slp(ivñîmïiij(jñirè(bpingó(rnk(
Rñrnsjóf
®Slp(ivñîmïiij(jñirè(ishóip(bpingó(
rnk(Rñrnsjó(
¨wlh(nmh(wmhóf
snèîlsunm(
hlvrêinìi
ksjhpswlhsunm
(hlvrêinìi
ãK
snèîlsunm(
hlvrêinìi
ksjhpswlhsunm(
hlvrêinìi
§ä
®Rmvi(mò(mlp(ivñîmïiij(jñirè(bpingó(
rnk(jmvi(jñirè(Rñrnsjóf
Vrwiîr(I{(lñshnsè(s(pilîhrhs(¨smîmurns(sjèrs(sjhrènlhi(ièjèîlsuni(snhipñpihrgsìi(
sîs(wi(òrumpsmurnìr(snhipñpihrgsìi(
`i(lî(hr(hs(ñm(èr(l(ìl(kr(sj(ñs(hr(ns(gs(ns(jl(svr(îs(om(hm(um(ns(èr(èusó(ni(km(l(vs(gr(èr(èm(
kr(hl(vr(êi(ksj(ìlnè(gs(ìl(wi(mw(s(pr(nr(¨nisj(hrè(nl(hmjh(ièj(èîl(su(ni(sn(hip(ñpi(hr(gs(ìi(¨l(
pi(lî(hr(hs(vr(èmn(hpmî(ni(opl(ñi(lmêr(ur(ji(pr(îs(èr(l(hl(vr(êi(nìl(kui(up(jhi(sj(èr(rP(ìip(
ìi(s(wmp(ièj(èîl(su(ni(sn(hip(ñpi(hr(gs(ìi(ni(éhm(ui(ís(l(sj(èr(s(vr(èm(ìs(hr(èul(sn(hip(ñpi(hr(gs(ìl(
sj(hs(êlJ HM (
\(kpl(omì(opl(ñs(r(kr(hr(èr(sj(ñs(hs(ur(îm(ji(hl(vr(êi(nìi(ksj(ìlnè(hsu(nsó(jsn(hro(vs(l(kui(
up(jhi(èmn(hiè(jhr{(jvr(hpr(ji(kr(r(kr(hrè(¨ü(ñmk(jhs(êi(wl(èurî(nmP(r(r(kr(hrè(¨Z(mwmL
or(íi(nm(nr(êi(nìiJ HK ((
HK( ( ürm(ur(ps(ìr(gs(ìr(musó(r(kr(hr(èr(èm(ps(jhi(ji(s(r(kr(gs(l(èm(ìs(vr(ji(sj(èr(lwr(gl(ìi(l(pi(ñpi(in(hr(gs(ìl(us(éio(
pi(kr(èm(ìmv(om(ump(nsè(kr(ìi(jumì(jhru(ñpi(vr(lvih(nl(hmì(ñp(m(ñm(s(gs(ìs(¨Wm(uigè(rnk(Rñip(wip(HMM§P(
aîlh(nip(HMMâ{
( U(km(lwh(hórh(Vmv(sj(r(ènr(ui(mp(r(òmmîJ
( ı¡Œ(®U(km(lwh(hórh(Vmv(sj(r(ènr(ui(mp(r(òmmî(wlh(nmh(wmhóf
( ¡Œ(®U(wi(îs(i(ui(hórh(Vmv(sj(ni(sh(óip(r(ènr(ui(nmp(r(òmmîf(
( U(wi(îs(i(ui(hórh(Vmv(sj(r(ènr(ui(mp(r(òmmîJ
( ¡Œ(®U(wi(îs(i(ui(hórh(Vmv(sj(r(ènr(ui(mp(r(òmmî(wlh(nmh(wmhóf
( Yèj(ñi(ps(vin(hrî(nr(sj(hpr(ës(ur(nìr(jl(ñm(èr(r(îr(kr(ji(l(ñp(umv(èmn(hiè(jhl(¨HFg):gAGH)@:)>A)9)C9:;)bF:)>@ñ>(
sj(ñs(hr(ns(gs((loîru(nmv(mñpi(ki(îìl(ìl(r(sn(èîl(su(nm(nr(êi(nìiP(hm(ìijhP(kr(ni(km(îr(s(km(sv(ñîs(èr(hlp(ni(
ñp(m(ìiè(gs(ìiP(kmè(ji(l(kpl(omv(èmn(hiè(jhl(¨A)9)C9:;)bF:)>@ñ>(sîs(:F:r^])bF:)>@ñ>P(sj(ñs(hr(ns(gs(
mñpi(ki(îìl(ìl(r(ièj(èîl(su(nm(nr(êi(nìiJ(`i(lî(hr(hs(nr(éio(èprh(èmo(lñsh(ns(èr(¨uJ(òl(jnm(hl(HH(ñm(èîr(ñrL
ìl(ji(j(pi(lî(hr(hs(vr(ñp(umo(ñps(vi(pr(¨mjrv(sj(ñsh(ns(èrP(rîs(mk(jhl(ñr(ìl(l(kpl(omv(ñps(vi(pl(¨mjrv(mk(
lèlñ(nm(ki(jih(sj(ñs(hr(ns(èr(mñpi(ki(îs(îm(ji(r(sn(èîl(su(nm(hl(vr(êi(nìi(ui(ns(èr(FGP(kr(èîiP(ñp(m(hsu(jèr(îrp(ni(
sv(ñîs(èr(hl(piJ(((
HH( ( R(mw(s(pmv(kr(jl(pi(lî(hr(hs(nr(éio(lñsh(ns(èr(nr(êrì(nm(mk(jhl(ñr(îs(mk(ñpik(us(⁄r(nìr(l(r(krh(èl(¨üP(r(ns(
ñpi(vr((jmñ(jhui(nmì(sn(hl(s(gs(ìs(ni(ws(jvm(jiP(wi(kl(ëio(pr(vs(éîìr(nìrP(mñpi(ki(îs(îs(r(sn(èîl(su(nm(nr(êiL
nìiP(mwr(us(îs(jvm(ìi(krn(èpr(hrè(lñsh(nsè(j(s(ump(nsv(om(ump(ns(gs(vr(èm(ìs(jl(ñmjh(ks(ñîmv(gs(nr(\ns(uipL
s(hi(hl( l( Xëmpkë(hr(l(nl( ¨>J@) cFP)P9F:l) c@G) Fi)TG>=) OG)F);GAPl)
j@)FG);@)>Fg:)¥:9)Q@G)=9>eJ(Sk(ki(jih(sj(ñs(hr(ns(èrP(ki(uih(ji(mñpi(ki(îs(îm(r(ièj(èîl(su(nm(nr(êi(nìi(l(mwr(
èmn(hiè(jhr(¨ìi(krn(sj(ñs(hr(nsè(ìi(sr(wprm(sn(èîl(su(nl(ur(ps(ìrn(hl(l(mwr(r(krh(èrJ((((((((
Käå

o9GEA:A)o9WRFQ9ûr8

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
OuO'Might
Vl(vr(êi(nìi(nr(êi(nìr(jîr(wmo(vm(kr(îr(sj(ñs(hs(ur(îm(ji(l(èmn(hiè(jhl(r(îs(m(ur(nmv(sj(èrL
l(¨r(kr(hrè(ôJ(üm(ks(pr(nm(¨wl(èurî(nm(nr(êi(nìi(vm(kr(îr(P9;J>(ìi(èmv(ñr(hs(wsî(nm(j(
P(kmè(ìi(mwm(or(íi(nm(nr(êi(nìi(ni(èmv(ñr(hs(wsî(nmJ(
M
èmn(hièjh{
Vói(pi(rpi(hópii(wm(ij{(hm(rpi(mñin(rnk(mni(sj(gm(ui(pikJ(Vói(gmn(hinhj(mò(hói(gm(ui(pik(wm(pi(jiv(wîi(hóm(ji(mò(mni
mp(hói(mh(óip(mñin(wm(ijJ(Sni(mñin(wm(gmn(hr(snj(r(ñrp(pmh(rnk(hói(mh(óip(mñin(wm(gmn(hr(snj(r(ñrp(pmh(rnk(r(wi(rpJ
(ôrïfj(òps(ink(órj(os(uin(óip(hói(gm(ui(pik(wm(rnk(jrskP(®Qîî(U(ènm(sj(hórh(ór(hi(uip(sj(sn(js(ki(hói(gm(ui(pik(wm
îmmèj(îsèi(órh(sj(snjski(hói(wm(shó(r(ñrppmh(rnk(wirp(mp(órh(sj(snjski(hói(wm(shó(ìljh(r(ñrppmhfJ
sj(èr
r(m(èpl(ëi(ns(mkL
om(ump
hpi(ír(om(ks(nr
¨ãH(
sjñshrnsèr
ôrï{(Vói(pi(vsoóh(wi(r(ñrp(pmh(sn(hói( jîr(ëiv(ji §ä §ä
wmJ
Vr(wi(îr(KH{(lñsh(nsè(s(pi(lî(hr(hs(¨èmn(hiè(jhl(r(îs(m(ur(ns(sj(èr
kpl(or(om(ks(nr
¨åä(
sjñshrnsèr
ür(èm(ìi(¨nl(ënm(s(ui(jnm(kr(ji(l(r(hum(pi(nmì(èl(hs(ìs(nr(îr(s(ñr(ñr(orìP(sj(ñs(hr(ns(gs(jl(
vm(oîs(kr(mk(om(um(pi(®jîr(ëiv(jif(rèm(sj(èr(sn(hip(ñpi(hs(pr(ìl(ji(vrn(hsê(èsP(sîs(®ni(jîr(ëiv(
jif(rèm(or(sn(hip(ñpi(hs(pr(ìl(ñpro(vr(hsê(èsJ Hç (Wr(mjnm(ul(pr(ns(ìsó(pi(lî(hr(hrP(mêi(ès(ur(îs(jvm(
kr(íi(sj(ñs(hr(ns(gs(ws(pr(hs(mwr(hl(vr(êi(nìr(j(hsv(éhm(íi(ji(ui(ís(nr(sñrè(mñpi(ki(îs(hs(r(mk(omL
ump(®ni(jîr(ëiv(jifP(ñm(om(hm(um(rèm(ji(l(mw(sp(lvl(pi(lî(hr(hs(r(krh(èr(¨QKJ(Vr(èm(⁄i(
jvm(mêi(ès(ur(îs(kr(íi(l(mk(nm(jl(nr(èmn(hpmî(nl(opl(ñlP(hpi(ír(om(ks(nrP(wmo(mwl(èiP(l(
ni(éhm(ui(íiv(wp(m(ìl(sr(wpr(hs(ji(vrn(hsê(èm(nr(êi(nìiJ(
Rl(ñpmh(nm(mêi(ès(ur(nìlP(sj(ñs(hr(ns(gs(jl(l(mumv(jîl(êr(ìl(svr(îs(îm(osê(ès(sj(ñpru(nl(ñp(m(giL
nl(vm(krî(nmo(sj(èr(r(èm(ìs(ìi(sn(òmp(vr(hsu(nm(jîr(ws(ìsP(hi(jl(ji(l(nr(êrì(nmv(wp(m(ìlP(s(êrè(
ni(éhm(us(éi(l(èmn(hpmî(nmì(opl(ñs(sj(ñs(hr(ns(èrP(mñpi(ki(îs(îs(r(ji(vrn(hsê(èl(sn(hip(ñpi(hr(gs(ìlJ 1 (
`r(îs(èi(l(hl(vr(êi(nìl(nrvP(jhm(orP(lèr(l(ìl(kr(kmè(ìi(ñpro(vr(hsê(èm(jl(ër(ur(nìi(ìi(sê(ès(
èm(ks(pr(nmo(nr(êi(nìr(èurn(hs(û(èr(hm(pr(=F)P@(ñm(jhr(îm(pi(ol(îr(prn(kim(ñpro(vr(hsê(èmo(mìrL
êr(ur(nìr(ñp(m(ñm(s(gs(ìi(sj(èr(r(¨s(kr(ìi(ñp(m(gij(ìik(nrè(l(mwr(ìi(s(èrP(ês(vi(ós(ñm(hi(r(m(
lns(uip(rî(nm(jhs(km(ws(ìr(nr(nr(êr(ìlP(km(hîi(mur(èui(ñm(hup(ki(èmk(vm(kr(îr(ìmé(luiè(ni(vr(
¨ls(vr(ìl(ís(l(mw(sp(s(pr(ns(ìi(pi(lî(hr(hi(mk(om(um(pr(s(ump(nsó(om(ump(ns(èrJ(s(nìi(ns(gr(kr(jl(
nr(és(sj(ñs(hr(ns(gs(ws(pr(îs(mk(om(ump(nr(sjhs(nr(êsn(nr(èm(ìs(hm(pr(ki(ki(gr(ns(ëio(l(pr(jhrP(kr(èîiP(
jl(ñpmh(nm(mk(om(um(ps(vr(mk(pr(jîsó(s(ump(nsó(om(ump(ns(èrP(nr(vi(íi(ñm(hpi(wl(èmv(ñr(pr(hsu(nmo(
sj(hpr(ës(ur(nìr(l(in(oîi(jèmv(s(jpñ(jèmv(ìi(s(èl(kr(ws(ji(s(wi(oîi(ñp(m(gi(ni(èm(ìs(vr(ji(pr(îsL
èi(A)BG9)F)G9(jum(ki(nr(ni(km(umîì(nm(ñm(nr(ur(nìi(in(oîi(jèsó(vm(kr(îrJ((
H§( (Wr(hpi(ímì(om(ks(nsP(èm(piè(gs(ìr(ìi(ws(îr(l(mwr(jvi(pr{(ñih(èr(®ni(jîr(ëiv(jif(s(kui(èr(®jîr(ëiv(jifJ(Wr(
kpl(omì(om(ks(nsP(ìik(nr(èm(piè(gs(ìr(ìi(ws(îr(èr(®ni(jîr(ëiv(jiJ(
Käâ

±O'§*'[3'X-'X*'aZ'0-'X-
Kää
o9GEA:A)o9WRFQ9ûr8

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
ìr(nìl([prì(jm(umo(vm(ki(îrP(rîs(hpi(wr(pi(ís(kr(s(mur(hi(vrP(vr(kr(l(nm(umv(pl(ólP(sjL
hpr(ìr(ur(l(jr(upi(vi(nmì(ñpro(vr(hs(gs(hi(kr(jl(ièj(ñi(ps(vin(hrî(nr(sj(hpr(ës(ur(nìr(s(hi(èr(èm(
nim(ñ(ómk(nrJ(R(kpl(oi(jhpr(niP(nré(lñsh(nsè(ns(ìi(km(jîik(nm(ñm(hup(ksm(kr(jl(jui(jèr(îrp(ni(
sn(òi(pin(gs(ìi(hi(éèi(r(mw(pr(klP(éhm(hr(èm(⁄i(lèr(l(ìi(nr(ñm(hpi(wl(kr(îìi(ièj(ñi(ps(vin(hrî(ni(
ñp(m(ui(piJ(
\(èprì(nìiv(sj(óm(klP(rèm(ñmk(ñpro(vr(hsê(èmv(hi(m(ps(ìmv(ñmk(pr(l(vi(ur(vm(hi(m(ps(ìl(m(
sn(hl(s(hsu(nmv(pr(l(vi(ur(nìl(sj(èr(rP(s(rèmP(ñps(hmvP(hr(èumv(hi(m(ps(ìmv(ñp(m(èîr(vl(ìi(vm(
lns(uip(r(îs(rvP(ñm(hpiw(nm(ìi(kr(mk(éèps(ni(vm(upr(hr(RFP)BA)GA)>9Q):@(ièj(ñi(ps(vin(hrî(ni(
ñpro(vr(hs(èi(s(kr(mjîl(éni(vm(sn(hl(s(gs(ìi(jhl(ki(nr(hr(ñpro(vr(hs(èiP(ìip(ji(mni(ñm(èr(l(ìl(
èrm(ñps(îsê(nm(km(wrp(sn(ks(èr(hmpJ((
,1)-3*)43*
argóP(üJ(¨HMMãJ(Uvñîsgshlpi(ujJ(iñîsgrhlpi{(órhfj(hói(ksòòipingi¬([J@)jGA:AHA)gFGR­
=JFB)F:)ú]ñBC9b9>)cFPP9F:ú)9:)JF:FF:P(ôrï(çKLelni(HJ
aîrèivmpiP(XJ(¨KIäâJ(a@PA:>9b)cF:=>GA9:>=)F:)h@C@QA:b@J(Sòmpk{(aîrgèiîîJ
aîrjjP(`J(¨KIIMJ(h@C@QA:b@)G@CA>9F:=)9:)H9=bFJ)=B@b9AC)G@i@G@:b@)>F)a9=­
=ACAJ(Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjJ(
aîlhnipP(`J(¨HMMâJ(Sñhsvrîshï(hóimpihsg(ñprovrhsgj(rnk(hói(iñîsgrhlpi£svñîsgrhlpi(ksjL
hsnghsmnJ(Un{)OGA;PA>9b=(¨WJ(alphmnL`mwiphjP(ikJP(dmlnkvsîîj{(^rîopruiP(ãâLäIJ((
apmnP(^J(rnk(RJ(TJ(Ziusnjmn(¨KIäâJ(OFC9>@:@==Ç)aFP@)@GA:b@=Ç)[J@)OGA;PA>9b=)Fi)]ñBC9b9>)cFPP9F:J(Sòmpk{(aîrgèiîîJ
[psgiP(^J(dJ(¨KIäIJ(a>J@)gAe)Fi)gFGH=J(TrvwpskoiP(ôQ{(drpurpk(\nsuipjshï(
^pijjJ
[pmiòjivrP(ôJ(¨HMMâJ(Tmngiñhj(rnk(mpk(virnsno(sn(piîiurngi(hóimpïJ(Un{(OGA;PA>9b=(
¨WJ(alphmnL`mwiphjP(ikJP(dmlnkvsîîj{(^rîopruiP(KçãLKåâJ((
dmpnP(ZJ(`J(¨HMMãJ(Vói(wmpkip(rpj{(Q(nimL[psgirn(ñipjñighsuiJ(Un{(_J@G@)a@PA:>9b=)
o@@>=)OGA;PA>9b=(¨üJ(Vlpnip(rnk(üJ(umn(diljsnoipP(ikjJP(Qvjhipkrv{(YîjiusipP(HKL
§äJ
dmpnP(ZJ(`J(¨HMMâJ(WimL[psgirn(ñprovrhsgj{(r(ôrnsgóirn(vrnsòijhmJ(Un{(OGA;PA>9b=(¨WJ(
alphmnL`mwiphjP(ikJP(dmlnkvsîîj{(^rîopruiP(KåäLKäçJ(((((
KäI

o9GEA:A)o9WRFQ9ûr89F:AC)
`PBC9bA>9RA)9)BGA;PA>9RA)9=RAkAÇ)PAGR@G9)H9=R9b=(¨WJ(alphmnL`mwiphjP(ikJP(dmlnkvsîîj{(^rîopruiP(Kä§LHKHJ((
RiúlispmjP(¢J(`J(¨HMMKJ(Vïñij(rnk(kiopiij(mò(snhipñpihsui(pijivwîrngi(sn(hprnjîrhsmnJ(
h@Q9=>A)TC9bA:>9:A)H@)]=>9F:J(SL
òmpk{(aîrgèiîîJ
6;8;?.BFID>;?
[tT[Ia)ÄZ[)_tT[)`)aT`^x
VdY(Y¢^ZUTUV£Uô^ZUTUV(TSWV`ScY`R†((
UW(VdY(VYQTdUW[(Sb(YW[ZURd(^`Q[ôQVUTR
aP(
ósgó( pigisui( ksòòipinh( hpirhvinhj( sn( nimL[psgirn( ¨Ziusnjmn( HMMMP( dmpn( HMMãP( HMMâ(
rnk(ñmjhL[psgirn(rggmlnhj(¨Rñipwip(rnk(©sîjmn(KIäã£IåP(Trpjhmn(HMMHJ(Vói(ñrñip(sj(
mpornsjik(rpmlnk(hói(òmîîmsno(jighsmnj{(hói(ûpjh(jighsmn(jihj(hói(jgini(wï(ñpijinhsno(
hói( ginhprî( sjjlij( sn( gmnhivñmprpï( ñprovrhsgj( rnk( wï( skinhsòïsno( jmpi( rpirj( sn( hirgóL
sno(ñprovrhsgjJ(Vói(jigmnk(jighsmn(snhpmklgij(hói(iñîsgsh£svñîsgsh(ksjhsnghsmn(òpmv(hói(
[psgirn(rnk(piîiurngiLhóimpihsg(ñipjñighsuijJ(Vói(hóspk(jighsmn(òmgljij(mn(hói(sjjli(mò(
jgrîrp(ñóinmvinr{(¨s(ishóip(rj(r(oiniprîsjik(gmnuipjrhsmnrî(svñîsgrhlpi(¨[TU(mp(rj(r(
kiòrlîh(snòipingiP(ósgó(sj(rn(svñîsgrhlpi(¨iJoJ(òpmv(=FP@)Fi)>J@)§=(hm(®nmh(rîî(mò(hói(¢jfP(
mp(¨ss(rj(rn(rkìljhvinh(mò(îisgrî(virnsno(rh(hói(iñîsgsh(îiuiî(mò(gmvvlnsgrhsmn(¨iJoJ(
òpmv(RSôY(Sb(VdY(¢j(®jmvi(rnk(ñmjjswîï(rîî(mò(hói(¢jf(hm(RSôY(Sb(VdY(¢j‹(®rh(
îirjh(hm(rnk(òiip(hórn(rîî(mò(hói(¢jfJ(Vósj(jighsmn(rîjm(jlvvrpsjij(piginh(ûnksnoj(òpmv(
iñipsvinhrî(ñprovrhsgjP(ósgó(jiiv(hm(îink(jlññmph(hm(hói(piîiurngiLhóimpihsg(ñpiksgL
hsmnj(gmnhpr([TU(rggmlnhjJ(Vói(òmlphó(rnk(ûòhó(jighsmnj(rpi(iñipsvinhrî(sn(mpsinhrhsmn{(
hóiï(ñpijinh(rnk( ksjgljj(pijlîhj(mò(rn(lnkipoprklrhi(jhlkinh(úlijhsmnnrspi(ósgó(rj(
rsvik(rh(hijhsno(hói(lnkipjhrnksno(mò(lnsnòmpvrhsui(lhhiprngijJ(Vói(muiprîî(gmngîljsmn(sj(
KIM

[tT[Ia)ÄZ[)_tT[)`)aT`^x)YüR^ZUTUVWSLUô^ZUTUVWQ(üSWV`ScY`õQ(\(JJJ
hórh(ósîi(piîiurngi(hóimpï(jiivj(wihhip(jlshik(hm(iñîrsn(snhlshsmnj(uipsûik(sn(ûiîkmpèP(
jgrîrp(snòipingij(rpiP(niuiphóiîijjP(îijj(glvwipjmvi(hórn(ñpiksghikJ(Un(oiniprîP(i(niik(
iñipsvinhrî(iuskingi(òpmv(jhlksij(sn(gmnhprjhsui(ñprovrhsgj(hm(jrï(shó(òmmîñpmmò(gipL
hrsnhï(hórh(hói(ñprovrhsg(mpèsnoj(rpi(oinlsniîï(lnsuipjrîJ
Y@e)gFGH={(iñipsvinhrî(ñprovrhsgjP(iñîsgrhlpiP(oiniprîsjik(gmnuipjrhsmnrî(svñîsgrhlpiP(
virnsno(vmklîrhsmnP(ñprovrhsg(ñpsngsñrîjP(jgrîrp(snòipingijJ
ôspìrnr(ôséèmusíLZlèmusí
\nsuipshih(l(üprolìiuglP(Rpwsìr
bsîmîméèmLlvihnsêès(òrèlîhih
iLvrsî{(vspìrnrvsjèmusgÀïrómmJgmJlè
KIK

KIH

=KH7#V;B;VD>;?
.4`Z3Z¢XZ/)'-L-{*)*'/*[3-0-XZ`'a31/)4a*'
Z+3*.1'`3*0*)1¢{-'`3*-
\( sj(hpr(ës(ur(nìl( èm(ìsv( ìi( hm(èmv( hps( om(ks(ni( ñpm(ui(pr(ur(nr( iû(èr(jnmjh( kur( pr(îs(ês(hr( vi(hm(kr(
mw(pr(ki(ñr(js(ur(in(oîi(jèmo(ìi(s(èr(jr(lêi(ns(gs(vr(jpik(nìi(éèm(îi(lhup(⁄i(nm(ìi(kr(ji(kl(om(hprì(nsL
ìs(iòiè(hs(l(ljur(ìr(nìl(opr(vr(hs(èi(ñm(jhs(ël(ñps(vi(nmv(nr(jhru(nsó(hió(ns(èr(èm(ìi(l(ñpi(in(hr(gs(ìs(
s( lui(ëwr(ur(nìl( mk(pr(ër(ur(ìl( ñps(pmk(ni( ñpm(gi(ji( ñps(jlh(ni( l( jhurp(nmì( èm(vl(ns(èr(gs(ìsJ( ^r(jsu( ji(
mwsê(nm(ñpi(kr(ìi(hr(èm(éhm(ji(ñm(ui(l(ìi(jr(rè(hs(umvP(r(jîsê(nmjh(nìs(óm(umo(nr(êi(nìr(ji(êi(jhm(
sj(hs(êi(ñl(hiv(ui(ëws(hprn(jòmp(vr(gs(ìr(èm(ìi(ji(ns(èrk(ni(ñps(vi(nìl(ìl(l(jhurp(nmì(èm(vl(ns(èr(gs(ìsJ(
Xpl(or(ês(ìs(vi(hmkP((l(jèîr(kl(jr(jr(upi(vi(nsv(ñps(jhl(ñmv(l(nr(jhr(usP(ñm(èr(rm(ìiP(hm(èmv(hpmL
om(ks(énìio(sj(hpr(ës(ur(nìrP(ui(íl(iû(èr(jnmjh(s(ui(íl(ljvi(pi(nmjh(nr(ñprè(hsê(nl(lñm(hpi(wl(ñr(js(ur(
l(èm(vl(ns(èr(gs(ìsJ(^r(jsu(ji(hl(vr(êsm(èrm(ni(r(us(jnr(jhplè(hl(pr(jr(jñi(gs(ûê(nsv(opr(vr(hsê(èsv(s(
òlnè(gs(m(nrî(nsv(mjm(wi(nm(jhs(vrP(lui(ëwr(urm(ji(l(èmn(hiè(jhlP(r(lvi(jhm(nr(oîr(ér(ur(nìr(jîsê(nm(jhsP(
sj(hs(gr(ni(jl(pr(îs(èi(s(vi(⁄l(rè(hs(ur(s(ñr(js(urJJ(Wr(èmn(hps(om(ks(niP(ñps(èl(ñîìi(ns(pi(lî(hr(hs(jl(ñmL
èr(r(îs(kr(murì(nr(êsn(mw(pr(ki(opr(vr(hs(èiP(l(ñm(pi(⁄i(nìl(jr(hpr(ks(gs(m(nrî(nsvP((pi(lî(hs(pr(ni(jr(vm(
iû(èr(jns(ìsv(ljur(ìr(nìiv(ni(om(s((kl(om(hprì(ns(ìsv(nr(nìivJ
YCE

V@=:A)O9C9BFQ9û
òmp(vi(¨jhplè(hl(piP(nr(êi(nìr(¨îiè(jsê(èmo(sîs(opr(vr(hsê(èmo(s(kpl(éhui(nmo(èmn(hiè(jhr(
¨Zrp(jinLbpi(i(vrn(KIIK{(HâILHäç((s(kr(vm(kip(nr(nr(jhr(ur(ñpi(ur(s(îr(s(jèpmv(ni(gsL
îìi(ui(pr(ns(ìsó(iñm(ór(l(èm(ìs(vr((ìi(ljñi(énm(jr(uîr(kr(ur(nìi(jhplè(hl(pi(jvr(hpr(nm(km(umîìL
nsv(km(jhso(nl(íivJ
mO'-L1'{*'/XZ'4/[*'û*'Xû-'`3*'0*')1'{-'1'.4'`Z'3Z¢'XZ/)''
/)-'¢-'XZ`'§X*'Xû*
Wi(èi(opr(vr(hsê(èi(èr(hi(om(ps(ìi(ljur(ìr(ìl(ji(îrè(éi(s(wp(ëiP(r(ni(èi(hi(ëi(s(jñm(ps(ìi(wmo(
jum(ìi(jhplè(hl(prî(ni(sîs(òlnè(gs(m(nrî(ni(èmv(ñîiè(jnm(jhsJ((^m(pik(musó(îsn(ous(jhsê(èsó(òrèL
hm(prP(ljñi(énmjh(ljur(ìr(nìr(êi(jhm(r(us(js(s(mk(ns(r(kpl(osó(òrè(hm(prP(vi(⁄l(èm(ìs(vr(jl(
mk(èîìlê(ni(ur(ënm(jhs(vm(hs(ur(gs(ìr(s((rki(èur(hrn(s(wmp(nr(jhru(nmo(vi(hm(kr(s(nr(jhru(nsó(
hió(ns(èrJ((^m(nr(hm(ìi(kr(ji(hm(èmv(lêi(nìr(ìi(s(èr(opr(vr(hsê(èi(èr(hi(om(ps(ìi(gs(èîsê(nm(mwL
pr(⁄l(ìl(ìip(ìi(r(ñpm(gij(nìs(óm(umo(ljur(ìr(nìr(ñm(hpiw(nm(mk(pi(⁄i(nm(upi(viJ((Yû(èr(jnmjh(
ljur(ìr(nìr(l(jur(èmv(hmv(gs(èîl(jl(ìi(ui(m(vr(ur(ënr(s(loîru(nmv(ìi(ñm(nr(hm(èr(èm(ji(
mnr(vm(ëi(ñm(ui(ír(hsJ(er(jnm(írP(ìik(nm(jhru(nmjh(s(js(jhi(vr(hsê(nmjh(l(s(îr(or(nìlP(ñm(ui(s(urL
nìi(opr(vr(hsê(èi(òmp(vi(s(nìi(ni(òlnè(gs(ìi(èpm(èm(vl(ns(èr(hsu(nmLmp(ìin(hs(jr(nr(ui(ëwr(nìr(
km(ñps(nm(ji(wm(îìiv(pr(l(vi(ur(nìlP(ui(ímì(vm(hs(ur(gs(ìs(lêi(ns(èr(s(iû(èr(jns(ìiv(ljur(ìr(nìlJ(
^m(jhr(uîìr(ji(ñs(hr(nìiP(vi(⁄l(hsvP(l(èm(ìmì(vi(ps(ji(vm(ëi(ñm(ui(ír(hs(pi(hin(gs(ìr(nr(lL
êi(nmo(s(hs(vi(km(krh(nm(ñm(vm(ís(s(jèpr(hs(hs(jrv(ñpm(gij(ljur(ìr(nìr(opr(vr(hsê(èi(opr(⁄iJ(
Sjsv(éhm(ìi(r(pi(hin(gs(ìl(nr(nìr(ur(ënm(ñpr(um(upi(vi(nm(s(gs(èîsê(nm(ñm(nr(uîìr(nìiP(ìmé(
ìi(krn(òrè(hmp(l(ui(îs(èmì(vi(ps(km(ñps(nm(js(iû(èr(jns(ìiv(s(kl(om(hprì(ns(ìiv(nr(nìlJ((^m(nrL
hm(ìi(kr(ji(kl(ëi(ñrv(hi(vr(hi(ps(ìr(îs(èm(ìs(r(lêi(ns(èr(svr(ìl(mk(pi(⁄i(nm(nr(êi(nìi(s(jvsL
jrm(s(èm(ìs(ji(vm(ol(sn(hi(ops(jr(hs(l(ñm(jhm(ìi(íi(iîi(vin(hi(èmo(ns(hsu(ni(jhplè(hl(piJ(\(lêi(nìl(
ìi(s(èrP(kr(èîi(jvs(jrmP(mk(nm(jnm(nr(êi(nìi(ìi(sê(èi(opr(⁄i(ìi(ws(hrn(iîi(vinh(ljur(ìr(nìr(
nr(nìr(èm(ìs(ji(ni(jvi(ñm(hs(jnl(hs(l(kpl(os(ñîrn(ñl(hiv(hió(ns(èr(èm(ìi(jl(ljvi(pi(ni(nr(
vi(ór(nsê(èm( lui(ëwr(ur(nìi( s( ñrv(íi(nìiJ( R( mw(s(pmv( kr( ìi( gsîì( lêi(nìr( jhpr(nmo( ìi(sL
èr(nìi(om(ur(ñps(vi(nr(l(èm(vl(ns(èr(gs(ìsP(mw(pr(kr(opr(vr(hsê(èsó(ìi(ks(ns(gr(hpi(wr(kr(wl(ki(
ljvi(pi(nr(nr(jrv(gsîì(s(kr(nr(êi(nìi(s(òlnè(gs(ìr(ìi(sê(èsó(ìi(ks(ns(gr(s(nìs(óm(ur(ñprè(hsê(nr(
ñps(vi(nr(km(ws(ìl(sj(hrè(nl(hm(vi(jhm(l(nr(jhr(usJ
\(ñm(oîi(kl(mw(pr(ki(ñm(ìi(ks(nsó(opr(vr(hsê(èsó(èr(hi(om(ps(ìrP(èrm(éhm(ìi(nr(ñps(vipP(ñrL
jsu(in(oîi(jèmo(ìi(s(èrP(jus(mus(nr(ui(ki(ns(ljîm(us(ns(jl(km(umîì(nm(sj(ñl(nìi(ns(s(ns(ìi(s(niL
nr(⁄l(ìl(íi(éhm(ui(ís(nr(lêi(ns(èr(èm(ìs(vr(ìi(vr(hip(nìs(ìi(sè(jpñ(jès(svr(ñps(îsê(nm(ñm(hi(éèmL
ír(l(jr(uîr(kr(ur(nìl(ñr(js(urJ
KI§

X\[S`SWSRV(YbYüQVQ(RQc`YôYWS[(^`URV\^Q(Sa`QXU([`QôQVUüY([`Q´Y
lOlO'Zy'Ko'Ho'zo'DJ'no
Vpr(ks(gs(m(nr(îrn( nr(êsn( mw(pr(ki( ñr(js(ur( ns(ìi( ljvi(pin( nr( pr(umì( èm(vl(ns(èr(hsu(ni(
èmv(ñi(hin(gs(ìi( s( mk(l(kr(pr( mk( mjnmu(nsó( ró(hi(ur( jr(upi(vi(ni( nr(jhr(uiJ( üîr(jsê(nm( hlL
vr(êi(nìi(kr(ìi(ñr(jsu(nr(èmn(jhplè(gs(ìr(mnr(l(èm(ìmì(¥mwìi(èrh(rè(hsu(ni(pi(êi(ns(gi(ñm(jhr(ìi(
jl(wìi(èrh(ñr(jsu(niøP((nr(jîi(⁄i(nm(s(ñpi(ur(s(⁄i(nsó((ñps(jhl(ñr(nr(jhr(us(jhpr(nsó((ìi(s(èrP(
ñmh(ñl(nm( ìi( l( ni(jèîr(kl( jr( jr(upi(vi(nsv( hin(kin(gs(ìr(vr( l( nr(jhr(us( jhpr(nsó( ìi(s(èr( sP(
lvi(jhm( pr(um(ìr( èm(vl(ns(èr(hsu(ni( èmv(ñi(hin(gs(ìrP( ñmk(jhs(êiP( èr(èm( hm( bi(îsèj( nr(s(urP(
pr(umì(pi(ñpm(klè(hsu(ni(èmv(ñi(hin(gs(ìi(¨bi(îs(KIââJ(Un(js(jhs(pr(nìi(nr(hr(èumv(nr(ês(nl(
pr(kr(ni(km(ñps(nm(js((iû(èr(jns(ìiv(lêi(nìl(s(lñm(hpi(ws(ìi(s(èrP(ni(om(ñp(uin(jhui(nm(rè(hs(us(pr(
mñi(pr(gs(ìi(èm(ìi(jl(nim(ñ(ómk(ni(ñps(îs(èmv(pi(ér(ur(nìr(vr(hi(vr(hsê(èsó(ñpm(wîi(vr(L(vi(vmL
ps(jr(nìi(s(vi(hm(ki(rnr(îs(i(hs(ñsê(ni(r(ñps(pmk(ni(nr(l(èi(¨dm(jin(òiîk(KIâãJ(
Sjnmu(nr(hió(ns(èr(l(mw(pr(ks(ñr(jsu(ni(èmn(jhplè(gs(ìi(ws(îm(l(nr(jhru(nmv(ñpm(gi(jl(sîs(l(
îs(hi(pr(hl(piP(ìi(jhi(hprn(jòmp(vr(gs(m(ns(kpsî(èm(ìs(ìi(ñpik(jhr(uîìrm(om(hm(um(ni(r(m(ws(îr(nl(hióL
ns(èl(hm(èmv(rlks(m(îsn(ourî(nmo(ñps(jhl(ñr(nr(jhr(us(jhpr(nsó(ìi(s(èrJ(Un(hi(pi(jrnh(nm(ìi(kr(ìi(
murì(ñps(jhlñ(wsm(ëi(jhm(èm(èps(hs(èm(urn((s(loîru(nmv(mk(wr(êin(lñpr(um(wmo((sn(js(jhs(prL
nìr(nr(vi(ór(nsê(èsv(ui(ëwr(nìs(vrP(r(kr(ji(hr(èru(hsñ(ñpi(in(hr(gs(ìi(s(ui(ëwr(nìr((mkp(ërm(
èrm(km(vs(nrn(hrn(l(nr(jhr(us(ñr(js(ur(in(oîi(jèmo(ìi(s(èrJ(Rup(ór((kps(îr(l(rlks(m(îsn(ourî(nmv(
ñps(jhl(ñl((ìi(ws(îr(kr(lj(ñm(jhr(us(nr(us(èi(s(mk(pi(⁄i(nl(òmp(vl(rlhm(vr(hs(l(ìiP(rîs(jiP(èpm(
ñprè(jlP(r(s(kr(îìs(pr(umì(îsn(ous(jhs(èi(s(ñjs(óm(îm(os(ìi(ñm(èr(r(îm(kr(jl(iòiè(hs(hr(èumo(nr(ês(nr(
pr(kr(up(îm(jèpmv(nsP(ñm(om(hm(um(lèm(îs(èm(ji(svr(ìl(l(us(kl(mjnmu(ns(gs(îìi(us(èm(vl(ns(èr(hsuL
nmo(ñps(jhl(ñrJ((^m(jîik(nìsó(ki(gi(ns(ìrP(hi(m(psì(jèi(ñm(jhru(èi(èm(ìi(lhs(êl(nr(s(wmp(nr(jhru(nmo(
vi(hm(kr(nrh(nm(jl(ji(ñpm(vi(ns(îiJ(\(mèus(pl(ól(vr(ns(jhsê(èmo((s(ñps(jhl(ñr(wr(s(pr(nmo(nr(
pr(l(vi(ur(nìlP(((ljur(ìr(nìi(jhpr(nmo(ìi(s(èr(ji(jr(oîi(kr(ur(èrm(ñpm(gij(jîs(êrn(ljur(ìr(nìl(
vr(hip(nìioP((wrp(l(hm(vi(éhm(ji(mk(us(ìr(èpm(ji(ps(ìl(jîsê(nsó(pr(umì(nsó(òr(rJ(\(mèus(pl(èmL
vl(ns(èr(hsu(nmo(ñps(jhl(ñrP(mjnmu(ns(gsîì(ljur(ìr(nìr(ìi(s(èr(ìi(nìi(om(ur(lñm(hpi(wr(l(ñpm(gi(jl(
èm(vl(ns(èr(gs(ìiP(ñr(jr(vsv(hsv(s(sn(js(jhs(pr(nìi(nr(pr(um(ìl(èm(vl(ns(èr(hsu(ni(èmv(ñi(hin(gs(ìiJ(
Vprn(jòmp(vr(gs(m(ns(kpsîP(èrm(nr(jhru(nr(hió(ns(èrP(s(ol(wsm(ìi(hr(èm(jum(ìi(mñpru(kr(nìi(
l(nm(us(ìsv(hi(m(ps(ìr(vr(s(r(jhl(ñîìi(nmjh(l(vm(kip(nmì(nr(jhr(usJ((Skp(ërm(jiP(vi(⁄l(hsv(l(
s(ni(nr(⁄l(ìl(íi(ui(îs(èmì(vi(psP(l(mw(pr(ks(ñr(jsu(ni(èmn(jhplè(gs(ìiJ(^m(jhr(uîìr(ji(ñs(hr(nìi(rL
éhm(ìi(hm(hr(èmJ(Xr(îs(ìi(r(s(jhrP(lñp(èmj(ni(km(jhrh(èl(ws(îm(èr(èui(ñmh(ñm(pi(l(jr(upi(vi(nmì(
hi(m(ps(ìsP(murì(nr(êsn(mw(pr(ki(hm(îs(èm(iû(èr(jrn¬(`i(èîm(ws(ji(kr(ns(ìiJ
^p(umP(jur(ès(kpsîP(ñr(s(hprn(jòmp(vr(gs(m(nsP(ñpik(jhr(uîìr(vi(ór(nsê(ès(usk(ui(ëwr(nìr(èm(ìs(
ni(ñmk(jhs(êi(vm(hs(ur(gs(ìl(lêi(ns(èr(s(ni(km(ñps(nm(js(pr(um(ìl(èm(vl(ns(èr(hsu(ni(èmv(ñi(hinL
gs(ìiJ((Sjsv(éhm(jiP(ñps(vi(nmv(kps(îrP(nr(jhr(ur(ìi(s(èr(jl(ër(ur(nr(jr(vm(ìik(nl(mk(èmvL
ñm(nin(hs((èm(vl(ns(èr(hsu(ni(èmv(ñi(hin(gs(ìi(8òmp(vl(opr(vr(hsê(èi(ìi(ks(ns(giP(ns(mjnmu(ns(gsîì(
kps(îrP(rlhm(vr(hs(r(gs(ìr(muîr(kr(ur(nìr(òmp(vmvP(ni(ñm(jhs(ëi(ji(l(km(umîì(nmì(vi(ps((èrk(
ìi(l(ñs(hr(nìl(ñr(jsuJ(Xpl(omP(l(ljur(ìr(nìl(jhpr(nmo(ìi(s(èrP((èmv(ñîiè(jnmì(èmo(ns(hsu(nmì(
rè(hsu(nm(jhsP((r(ñr(ëi(nr(ìi(ñmk(jui(jnr(s(s(pr(ëi(nr(hi(ënìr(lêi(ns(èr(r(ñm(ìik(nm(jhr(uîìsL
ur(nìivJ(^m(ìik(nm(jhr(uîìs(ur(nìi(ji(jvr(hpr(mñ(éhmv(jhpr(hi(os(ìmv(èm(ìr(ji(ñps(vi(nìl(ìi(l(
KIå

KIã
V@=:A)O9C9BFQ9û
lêi(nìl(ìi(s(èr(s(ìi(sê(èmì(ñpm(klè(gs(ìs(s(èm(ìr(ìi(l(mjnm(us(vnm(osó(kpl(osó(jñi(gs(ûê(nsó(
jhpr(hi(os(ìr(¨`sg(órpkj(KIâ§P(©sk(km(jmn(KIâåJ((
Vpr(ks(gs(m(nrî(nl(mw(pr(kl(ñr(js(urP(vi(⁄l(hsvP(ni(èr(prè(hi(ps(éi(ìik(nm(jhru(nmjh(èm(ìr(ìiP(
ni(jr(vm(èur(îs(hih(èmv(ji(l(lêi(nìl(ñmk(jui(jnm(hi(ësP(uií(s(ìi(krn(mk(mjnmu(nsó(ró(hiL
ur(l(ljñi(énmì(mw(pr(ks(opr(vr(hs(èiJ(Urèm(ìi(ñr(jsu(jl(éhsn(jès(ìik(nm(jhru(nr(èmn(jhplè(gs(ìrP(
lmws(êr(ìi(nr(ñpi(in(hr(gs(ìr(s(hió(ns(èr(èm(ìr(km(vs(ns(pr(l(ui(ëwr(nìl(ñps(îsê(nm(jl(èmv(ñîs(èmL
ur(niJ(Uj(hs(gr(nìi(jîsê(nm(jhs(nr(êi(nìr(ñr(js(ur(s(rè(hs(ur(èpm(ñpi(in(hr(gs(ìl(s(hprn(jòmp(vrL
gs(m(nr¥(ur(ëwr(nìr(ñps(îsê(nm(ìi(ni(ñpm(klè(hsu(nm(ìip(ji(hr(èusv(mw(ìr(énìi(nìiv(ñr(jsu(jum(ks(
nr(js(nm(nsv(rè(hs(urJ(Zm(osê(nm(ìi(ñpih(ñm(jhr(us(hs(kr(lêi(ns(gsP(jèîm(ns(ñps(vi(nìs(ur(nìl(jhprL
hi(os(ìi(ñm(ìik(nm(jhr(uîìs(ur(nìrP(vm(ol(jóur(hs(hs(kr(ñr(jsu(ns(oîr(omî(jès(usk(ns(ìi(nr(pm(ês(hm(ns(
ur(ërn(ìip(luiè(ñm(jhm(ìs(rî(hip(nr(hs(ur(l(us(kl(rè(hs(urP(éhm(ìi(jur(èr(èm(ñm(opi(érn(r(èîìlL
êrè(j(mw(s(pmv(nr(òpi(èuinh(nmjh(ñr(js(ur(l(in(oîi(jèmv(ìi(s(èlJ
cp(îm(ìi(ur(ënm(sj(hr(ís(s(kr(jl(òr(i(l(ljur(ìr(nìl(ñr(jsu(ni(èmn(jhplè(gs(ìi(l(hpr(ks(gs(m(nrîL
nmì(nr(jhr(us(ñmh(ñl(nm(mk(jlh(ni(l(ñps(pmk(nmì(èm(vl(ns(èr(gs(ìsJ(R(mw(s(pmv(kr(rki(èur(hrn(
s(km(um(îìrn(¥sn(ñlhø(sopr(ui(m(vr(ur(ënl(lîm(ol(l(ljur(ìr(nìl(ìi(s(èr(¨üprj(óin(KIäKP(
vm(ëi(vm(ji(r(ñs(hr(hs(èr(èru(hsñ(¥sn(ñl(hrø(s(l(èm(ìmì(vi(ps(ìi(ñps(jl(hrn(l(hpr(ks(gs(m(nrî(nmì(
mw(pr(ks(ñr(js(urJ(^m(éhm(jiP(mjsv(l(ñpi(in(hr(gs(ìsP(lêi(ns(gs(hm(èmv(mw(pr(ki(us(éi(jl(jpi(íl(
jr(pi(êi(ns(gr(vr(l(rè(hs(ul(èm(ìi(hpi(wr(kr(hprn(jòmp(vs(él(l(ñr(jsu(ni(pi(êi(ns(giP(sj(ñm(jhr(uîìr(
ji(kr(ji(mk(nìsó(mêi(èl(ìi(rki(èur(hrn(¥mlh(ñlhø(l(ni(km(um(îìrn(sîs(ni(r(ki(èur(hrn(¥snL
ñlhøP(mk(nm(jnm(l(nr(oîr(éi(nl(s(îm(ëi(nmjh(rè(hsu(nsv(pi(êi(ns(gr(vrJ(Sjsv(hm(orP(hió(ns(èi(
ñps(vi(nìi(ni(l(ui(ëwr(nìl(ws(hpi(wr(îm(kr(mîrè(ér(ìl(wl(kl(íl(lñm(hpi(wl((ìi(sê(èi(ìi(ks(ns(gi(
l(jhurp(nmì(èm(vl(ns(èr(gs(ìsP(r(ñps(îsê(nm(ìi(ni(pi(rî(nm(mêi(ès(ur(hs(kr(íi(lêi(ns(gs(l(hr(èumì(
js(hl(r(gs(ìs(ws(hs(l(ñps(îs(gs(kr(¥hprn(jòmp(vs(éløjum(ìi(sj(èr(i(ìip(ìi(hm(ni(ñps(pmk(nm(s(ró(hi(ur(
mk(pi(⁄i(nm(upi(viJ([m(ump(ns(gs(èm(ìs(vr(ìi(vr(hip(nìl(ìi(sè(in(oîi(jès(jur(èr(èm(ni(ljurL
ìr(ìl(ñr(jsu(hr(èm(éhm((hprn(jòmp(vs(él(pi(êi(ns(gi(s(ìik(nmo(oîr(omî(jèmo(jhr(nìr(l(kpl(omP(ñr(
ìi(ni(ìr(jnm(r(éhm(ji(hr(èru(nr(êsn(ñpi(in(hr(gs(ìi(s(lui(ëwr(ur(nìr(ñr(js(ur(jr(oîi(kr(ur(èrm(
nrì(wm(îìs(ñlh(l(ljur(ìr(nìl(in(oîi(jèmo(ìi(s(èr(èrm(jhpr(nmoJ
\(èmn(hiè(jhl(jr(upi(vi(nmo(ñps(jhlñ(nr(jhr(us(jhpr(nsó(ìi(s(èrP(sn(js(jhs(pr(nìi(nr(òmp(vs(
s(jhplè(hl(psP(l(r(ni(vr(ps(ur(nìi(òlnè(gs(ìi(s(nr(êi(nìr(opr(vr(hsê(èi(ìi(ks(ns(gi(jvr(hpr(ji(
ñm(opi(énsv(ñps(jhl(ñmvP(r(l(mumv(jîl(êr(ìl(lñpr(um(hm(ìi(ius(kinh(nm(ìip(ji(ñr(jsu(l(nrL
jhr(us(s(ñi(kr(om(éèsv(opr(vr(hs(èr(vr(jum(ks(nr(js(nm(nsv(s(ñr(pr(òpr(l(rè(hs(ur(j(mw(s(pmv(
kr(ji(r(ni(vr(pl(ìl(nìi(om(ui(ji(vrn(hsê(èi(mjm(wi(nm(jhsJ(Un(hi(pi(jrnh(nm(ìiP(vi(⁄l(hsvP(kr(ji(
ji(vrn(hsê(èr(èmv(ñm(nin(hr(ñr(js(ur(ki(hrîì(nm(pr(vr(hpr((l(nm(us(ìsv(opr(vr(hsè(vr(èm(ìi(ji(
hi(viîì(nm(wr(ui(musv(oîr(omî(jèsv(jhr(nìiv(s(èm(ìi(jlP(ês(ns(jiP((èm(prè(sj(ñpik(ñpm(vi(nr(
l(nr(jhr(us(¨nñpJ(dlk(kîi(jhmnP(^lî(îlv((HMMHJ((
R(mw(s(pmv(kr(hpr(ks(gs(m(nrî(ns((nr(êsn(mw(pr(ki(ñr(js(urP(èrm(éhm(ji(vm(ëi(r(èîìl(ês(hsP(
jl(éhsn(jès(ns(ìi(ljvi(pin(nr(nr(êi(nìi(s(jvs(jrmP((éhm(ws(wsm(ñpik(l(jîmu(rè(hsu(ni(ñr(ënìi(
lêi(ns(èr(s(ljñi(éns(ìio(ñrv(íi(nìrP(vm(ëi(ji(ñpih(ñm(jhr(us(hs(s(kr(ìi(ñps(îsê(nm(ni(i(û(èr(jrn(l(
ñm(oîi(kl(pi(hin(gs(ìi(jhi(êi(nmo(nr(nìrJ

X\[S`SWSRV(YbYüQVQ(RQc`YôYWS[(^`URV\^Q(Sa`QXU([`QôQVUüY([`Q´Y
Rui(mui(ñpih(ñm(jhru(èiP(r(jnm(ur(ni(nr(mñ(éhsv(ñpsn(gs(ñs(vr(èm(ìs(ji(ñps(vi(nìl(ìl(l(
jr(upi(vi(nmì(nr(jhr(usP((ñpm(ui(pi(ni(jl(s(ñm(hup(⁄i(ni((l(hpm(om(ks(énìiv(ièj(ñi(ps(vin(hrî(nmv(
sj(hpr(ës(ur(nìl((èm(ìi(ìi(s(ui(ki(nm(jr(lêi(ns(gs(vr(jpik(nìi(éèm(îiJ
lOmO'-}D'zA'KJ'EAp'GoB'pF'JD'GKo'òJ'no'pôA
Uj(hpr(ës(ur(nìi(èm(ìsv(ìi(ñpm(ui(pr(ur(nr(iû(èr(jnmjh(kur(pr(îs(ês(hr(vi(hm(kr(mw(pr(ki(ñr(jsL
ur(s(ui(ki(nm(ìi(hm(èmv(ç(lr(jhmñ(ni(éèmî(jèi(om(ks(ni(l(ürp(îm(urê(èmì(osv(nr(s(ìs(s(mw(lL
óur(hr(îm(ìi(KâK(lêi(ns(èr(èm(ìs(jl(ws(îs(ñm(ki(îìi(ns(l(ièj(ñi(ps(vin(hrî(nl(s(èmn(hpmî(nl(opl(ñlJ(
\(èmn(hpmî(nmì(opl(ñsP(mw(pr(kr(ñr(js(ur(hi(èîr(ìi(nr(lmws(êr(ìin(nr(êsnP(mk(nm(jnm(l(ñpiL
in(hr(gs(ìs(s(ui(ëwr(nìl(ñr(jsu(ji(ñm(ui(s(urm(jr(rè(hs(umv(s(ñps(vi(nìs(ur(ni(jl(ui(ëwi(hprnL
jòmp(vr(gs(ìr(s(rè(hs(ur(l(ñr(jsu(s(mwprh(nmJ(\(ièj(ñi(ps(vin(hrî(nmì(opl(ñsP(ñr(jsu(ìi(mw(prL
⁄s(urn(nr(ìik(nm(jhru(ns(ìs(nr(êsnP(èrm(r(jiw(nr(èmn(jhplè(gs(ìr(ìik(nm(jhru(ni(jhplè(hl(pi(¨f@)
£)BA=>)BAG)>9)b9)BC@(s(jñi(gs(ûê(nmo(nr(êi(nìr(s(lñm(hpi(wiJ(\(mumì(opl(ñsP(ñr(jsu(ji(ns(ìi(
ñm(ui(s(urm(jr(rè(hs(umvP(uií(ìi(nr(oîr(éi(nr(s(lui(ëwr(ur(nr(pr(îs(ês(hmjh(nìs(óm(ui(òlnè(gs(ìi(
l(ìi(s(èl(èpm(ui(îs(ès(wpmì(ui(ëws(l(èmn(hiè(jhlJ(ci(ëwr(nìr(jlP(jr(vsv(hsvP(ws(îr(rhprèL
hsu(ns(ìrP(vr(nìi(ljvi(pi(nr(nr(rnr(îs(l(jhplè(hl(pi(èm(ìr(ìi(ñps(jlh(nr(l(hprn(jòmp(vr(gs(m(nmv(
kps(îlP(r(us(éi(nr(lñm(hpi(wl(ñr(js(urJ(\(ièj(ñi(ps(vin(hrî(nmì(opl(ñs(ìi(nr(oîr(ér(ur(nr(pr(îs(èr(
s(vi(⁄l(ñr(js(ur(s(rè(hs(ur(s(ui(ëwi(èm(ìi(jl(lêi(ns(gs((pr(ks(îs(jr(jhm(ìr(îi(jl(ji(ui(ísv(ki(îmv(
mk(ñr(jsu(nsó(pi(êi(ns(grP(r(vr(nìsv(ki(îmv(mk(rè(hsu(nsó(lñpr(um(kr(ws(ji(lus(ki(îr(hr(prL
îs(èr(s(kr(ws(lêi(ns(gs(ñpi(ñm(nr(îs(js(hl(r(gs(ìi(l(èm(ìs(vr(ìi(rki(èurh(nr(lñm(hpi(wr(ìik(nmo(sîs(
kpl(omo(oîr(omî(jèmo(us(krJ
Swi(opl(ñi(lêi(ns(èr(hi(jhs(pr(ni(jl(ñpi(êr(jm(ur(mw(pr(ki(¨ñpi(îs(vs(nrp(nsv(hi(jhmv(P(
èrm(s(ni(ki(îìl(kr(nr(ñm(jîi(¨huJ(r(up(énsv(hi(jhmvP(r(pi(lî(hr(hs(ñps(èl(ñîìr(ns(hm(èmv(hps(
om(ks(ni(ñm(èr(r(îs(jl(kr(ìi(vi(hmk(ñps(vi(nìin(l(ièj(ñi(ps(vin(hrî(nmì(opl(ñs(krm(wm(îìi(piL
lî(hr(hi(hm(èmv(jur(èi(om(ks(ni(sj(hpr(ës(ur(nìrJ(
`r(ks(sîl(jhpr(gs(ìiP(mu(ki(jl(s(kum(ìi(ns(jr(vm(jl(vrp(ns(pi(lî(hr(hs(mumo(mwsv(nmo(sj(hprL
ës(ur(nìrJ(\(hr(wi(îs(wpJK(ñps(èr(r(ns(jl(lèlñ(ns(pi(lî(hr(hs(ièj(ñi(ps(vin(hrî(ni(s(èmn(hpmî(ni(
opl(ñi(hm(èmv(hps(om(ks(niJ
Vr(wi(îr(K{(\èlñ(ns(pi(lî(hr(hs(sj(hpr(ës(ur(nìr
/KAH'pôo'nKAH'pFDG'KA'|@B'Go'Go'Öùà
} F B D } o'
xFHJpo
-}D'zA'KJ'EAp'GoB'po'xK@'zo
ñpi(îs(vs(nrp(n s(
test
{Fp'GKFB'po'xK@'zo
r(up(éns(hijh( ñpi(îs(vs(n r p (n s(
hijh(
r(up(éns(hijh(
mu(ú úÄm± ı úÄm úÄl
KIâ

V@=:A)O9C9BFQ9û
} F B D } o'
xFHJpo
/KAH'pôo'nKAH'pFDG'KA'|@B'Go'Go'Öùà
-}D'zA'KJ'EAp'GoB'po'xK@'zo
ñpi(îs(vs(nrp(n s(
test
{Fp'GKFB'po'xK@'zo
r(up(éns(hijh( ñpi(îs(vs(n r p (n s(
hijh(
r(up(éns(hijh(
mú( úı úÄl ±Äul úÄlu
m(± úım ±lım Äl lÄmu
õr(ñr(ër(ji(kr(jl(pi(lî(hr(hs(ièj(ñi(ps(vin(hrî(ni(opl(ñi(hm(èmv(jur(èi(om(ks(ni(sj(hprL
ës(ur(nìr(ws(îs((wm(îìsP(hi(kr(jl(lêi(ns(gs(ièj(ñi(ps(vin(hrî(ni(opl(ñi(nr(êrì(nm(ñm(ñpr(uîìr(îs(
jpik(nìl(upik(nmjh(ñpm(gi(nr(hr(hrê(nsó(mk(om(um(pr(nr((hi(jhl(èm(ìs(ìi(up(éin(nr(èmn(mw(pr(ki(
opr(ks(ur(l(mk(nm(jl(nr(ñpi(îs(vs(nrp(ns(hijhJ(\êi(ns(gs(èmn(hpmî(ni(opl(ñiP(vi(⁄l(hsvP(hm(èmv(
jur(èi(om(ks(ni(sj(hpr(ës(ur(nìr(mjhur(ps(îs(jl(ns(ëi(jpik(nìi(upik(nm(jhs(ñpm(gi(nr(hr(hrê(nsó(mkL
om(um(pr(nr(r(up(énmv(hi(jhl(ni(om(éhm(ìi(hm(wsm(jîl(êrì(nr(ñpi(îs(vs(nrp(nmvP(éhm(ni(omL
um(ps(m(hm(vi(kr(ìi(nìs(óm(um(nr(nìiP(nr(èmn(êr(jm(ur(mw(pr(ki(ws(îm(jîr(ws(ìi(ni(om(ñpi(hm(orP(
uií(ñm(èr(l(ìi(kr(ns(ìi(km(éîm(km(km(umîì(nmo(nr(ñpih(èr(¨ñm(éhm(jl(ró(hi(us(r(up(énmo(hiL
jhr(ws(îs(ui(ís(j(mw(s(pmv(kr(jl(vl(ñpih(óm(ks(îs(êr(jm(us(mw(pr(ki(s(ui(ëwr(nìrJ(Sw(pr(kr(ñrL
js(ur(l(ièj(ñi(ps(vin(hrî(nmì(opl(ñs(ìiP(vm(ëi(ji(r(ñr(s(hsP(kr(îr(wm(îìi(èprh(èm(pmê(ni(iòiè(hiJ
`i(lî(hr(hs(jlP(vi(⁄l(hsvP((rnr(îs(s(pr(ns(s(hr(èm(éhm(jl(ñm(pi(⁄i(ni(jpik(nìi(upik(nm(jhs(
hrê(nsó(mk(om(um(pr(nr(ñpi(îs(vs(nrp(nsv(hi(jhm(us(vr(hm(èmv(kui(sîs(hps(om(ks(niJ(Wr(murì(
nr(êsnP(lhup(⁄s(ur(nm(ìi(èm(îs(èr(ìi(pi(hin(gs(ìr(jr(uîr(kr(ni(opr(vr(hsê(èi(opr(⁄i(nr(èmn(ñi(ps(mL
kr(mk(om(ks(nl(kr(nrP(mk(nm(jnm(èm(îs(èm(jl(kl(om(pmê(ns(iòiè(hs(mkr(wpr(nmo(vi(hm(kr(pr(krJ(
`i(lî(hr(hs(mjhur(pi(ns(nr(ñpi(îs(vs(nrp(nmv(hi(jhl(jl(li(hs(l(mw(sp(¨r(ni(mns(mjhur(pi(ns(nr(
r(up(énmv(hi(jhl(lñpr(um(r(hm(éhm(ji(ñpi(îs(vs(nrp(ns(hijh(mkp(ër(urm(nr(èmn(om(ks(nl(kr(nr(
mk(hi(viîì(ni(mw(pr(ki(ñr(js(urP(hi(ji(vm(oîm(jvr(hpr(hs(kr(jl(mus(pi(lî(hr(hs(s(ñpm(vi(ni(èm(ìi(
jl(r(ñr(ëi(ni(ur(îsk(ns(l(mgi(ns(kl(om(pmê(nm(jhs(jhi(êi(nmo(nr(nìrJ(
\(hr(wi(îs(wpJ(H((ñps(èr(r(ns(jl(pi(lî(hr(hs(ñpi(îs(vs(nrp(nsó(hi(jhm(ur(r(kui(oi(ni(pr(gs(ìi(
lêi(ns(èr(èm(ìi(jl(l(sj(hpr(ës(ur(nìl(lêi(jhum(ur(îi(ñm(kui(sîs(hps(om(ks(niJ(`i(lî(hr(hs(lêi(ns(èr(
èm(ìs(jl(èpr(íi(upi(vi(lêi(jhum(ur(îs(l(sj(hpr(ës(ur(nìl(ns(jl(pr(vr(hpr(ns(ìip(ni(vm(ol(ñm(èrL
r(hs(kl(om(pmê(nmjh(nr(nìrJ
KIä

X\[S`SWSRV(YbYüQVQ(RQc`YôYWS[(^`URV\^Q(Sa`QXU([`QôQVUüY([`Q´Y
Vr(wi(îr(H{(`i(lî(hr(hs(ñpi(îs(vs(nrp(nsó(hi(jhm(ur(ñm(oi(ni(pr(gs(ìr(vr(lêi(ns(èr
/KAH'pôo'nKAH'pFDG'KA'|@B'Go'Go'Öùà
-}D'zA'KJÅ
EAp'GoB'po'
xK@'zo
111'Ko|'KAH
(¨hps(omksni(l(sjhprësurnìl
11'Ko|'KAH(
(¨kui(omksni(l(sjhprësurnìl
mú(1' m(11' m±(111' m(1' m±(11'
ú±Ä±' Ä' Äl' úuÄ' ±uÄ'
{Fp'GKFB'po'
xK@'zo Äum' ±úÄ' Äm' Ä' ±lÄll'
\êi(ns(gs(hpi(íio(pr(pi(kr(ièj(ñi(ps(vin(hrî(ni(opl(ñiP(èm(ìs(jl(l(sj(hpr(ës(ur(nìl(lêi(jhumL
ur(îs(hps(om(ks(niP(ñm(èr(r(îs(jl(nr(hrn(nr(ñpi(krè(hm(èmv(hmo(ñi(ps(m(krJ(Rpik(nìr(upik(nmjh(
ñpm(gi(nr(hr(nìs(óm(usó(hrê(nsó(mk(om(um(pr(nr(hi(jhl(ñm(ñpr(us(îr(ji(jr(§ãPMã«(ñp(ui(om(ks(ni(
nr(åIPåä«(kpl(oi(om(ks(ni(sj(hpr(ës(ur(nìrP(kr(ws(ni(nrh(nm(mñr(îr(nr(åäPKM«(hpi(íi(om(ksL
niJ(Surì(ñrk(l(upik(nm(jhsP(r(wi(îi(ëin(hm(èmv(hpi(íi(om(ks(niP(èr(èm(ji(rnr(îs(mv(ljñi(ór(
pr(îs(ês(hsó(mki(îìi(nìr(mwi(opl(ñi(sj(ñm(jhr(us(îmP(wsm(ìi(lpm(èm(urn(s(rv(ws(gs(m(nm(èmn(gs(ñsL
pr(nsv(hi(jhmv(¨l(jèîr(kl(jr(ur(ëi(ísv(ñpm(opr(vmv(èm(ìs(ji(pi(r(îs(l(ìi(jr(ñm(hi(éèm(ír(vr(
èrk(ìi(l(ñs(hr(nìl(ñr(jsuP(rîs(ìi(hrì(ñrk(upik(nm(jhs(sñrè(wsm(ni(nr(hrnJ(ümk(lêi(ns(èr(
èmn(hpmî(ni(opl(ñi(sjhi(oi(ni(pr(gs(ìi(r(wi(îi(ëin(ìi(ñm(prjh(jpik(nìi(upik(nm(jhs(ñpm(gi(nr(hr(
hrê(nsó(mk(om(um(pr(jr(ååPçH«((ñp(ui(om(ks(ni(sj(hpr(ës(ur(nìr(nr(ã§PIå«((kpl(oi(om(ks(niP(
r(r(hsv(nrh(nm(s(pr(ëi(ns(ìs(ñrk(upik(nm(jhsP((hpi(íi(om(ks(niP(nr(åâPHI«J((Wr(ñm(êih(èl(
sj(hpr(ës(ur(nìrP(èrm(éhm(ji(vm(ëi(us(ki(hsP(ièj(ñi(ps(vin(hrî(nr(opl(ñr(ìi(ws(îr(nrh(nm(jîr(ws(ìr(
mk(èmn(hpmî(niP(rîs(nr(èpr(ìl(ìi(ñm(jhs(oîr(wm(îìi(pi(lî(hr(hi(l(mk(nm(jl(nr(èmn(hpmî(nl(opl(ñlJ
\êi(ns(gs(kpl(omo(pr(pi(kr(ièj(ñi(ps(vin(hrî(ni(opl(ñiP(èm(ìs(jl(l(sj(hpr(ës(ur(nìl(lêi(jhumL
ur(îs(kui(om(ks(niP(ñm(èr(r(îs(jl(ìmé(ui(ís(nr(ñpi(krèJ(Rpik(nìr(upik(nmjh(ñpm(gi(nr(hr(nìsL
óm(usó(hrê(nsó(mk(om(um(pr(nr(hi(jhl(s(nm(js(îr(ìi(§çPåâ«(ñp(ui(om(ks(ni(sj(hpr(ës(ur(nìrP(kr(
ws(om(ks(nl(kr(nr(nr(èmn(hm(or(km(jhs(oîr(ãçPâM«J(\êi(ns(gs(èmn(hpmî(ni(opl(ñi(jl(ñm(jhs(oîs(
jpik(nìl(upik(nmjh(mk(åäPåM«(ñp(ui(om(ks(niP(r(jîi(ki(íi(om(ks(ni(ãKPKK«J(Yèj(ñi(ps(vinL
hrî(nr(opl(ñr(ìi(P(s(l(mumì(oi(ni(pr(gs(ìs(lêi(ns(èrP(nrh(nm(us(éi(nr(ñpi(km(ur(îr(s(ñpi(vr(és(îr(
ljñió(èmn(hpmî(ni(srèm(ìi(nr(ñm(êih(èl(sj(hpr(ës(ur(nìr((ws(îr(nrh(nm(jîr(ws(ìr(¨l(s(wm(pl(mkiL
îìi(nìr(r(ièj(ñi(ps(vin(hrî(nl(s(èmn(hpmî(nl(opl(ñl(ns(ìi(ji(um(ks(îm(pr(êl(nr(m(ljñi(ól(ìip(ji(
ui(pm(ur(îm(kr(íi(ìik(nm(jhru(ns(ìs(vi(hmk(kr(hs(pi(lî(hr(hi(wi(mw(s(pr(nr(hpi(nlh(ns(ìi(sê(ès(
ns(um(lêi(ns(èrJ
\èlñ(nr(rnr(îs(r(pi(lî(hr(hr(sj(hpr(ës(ur(nìr(ñm(hup(ks(îr(ìi(kr(ìi(vi(hmk(mw(pr(ki(ñps(viL
nìin(l(ièj(ñi(ps(vin(hrî(nmì(opl(ñs(krmP(ni(jr(vm(wm(îìi(èprh(èm(pmê(ni(iòiè(hiP(uií(s(jhr(wsîL
ns(ìi(s(kl(om(hprì(ns(ìi(nr(nìiJ(öhm(ìi(ur(ëns(ìiP(mum(sj(hpr(ës(ur(nìi(ìi(ñm(hup(ks(îm(ñpsn(gs(ñi(nr(
èm(ìs(vr(ji(r(jns(ur((vi(hmk(èm(ìs(ìi(ñm(hup(⁄in(èrm(ljñi(éns(ìsP(rîs(s(ñpsn(gs(ñi(jr(upi(vi(ni(
KII

V@=:A)O9C9BFQ9û
nr(jhr(ui(jhpr(nmo(ìi(s(èr(èm(ìs(jiP(s(ñm(pik(ki(èîr(pr(hsu(nsó(r(îr(or(nìrP(l(ni(èsv(jio(vinL
hs(vr(ni(ñps(vi(nìl(ìl(l(km(umîì(nmì(vi(psJ(
mO'§*'{,û4'¢*{
eik(nm(jhr(urn(r(èîìl(êrèP(èm(ìs(ws(jiP(nr(mjnm(ul(s(ni(hmoP((vm(orm(s(ui(jhsP(ìi(jhi(kr(
ìi(ljur(ìr(nìi(jhpr(nmo(ìi(s(èr(l(éèmî(jèmì(nr(jhr(us(nrh(nm(ìik(nm(jhru(ns(ìi(s(îrè(éi(lèm(îs(èm(
ñpm(gi(js(èm(ìs(jl(ñps(hmv(ñps(jlh(ns(ni(mk(l(kr(pr(ìl(l(ui(îs(èmì(vi(ps(mk(mnsó(ñpm(gi(jr(èm(ìs(
jl(ñps(jlh(ns(l(ljur(ìr(nìl(ìi(s(èr(l(ñps(pmk(nmv(mèpl(ëi(nìlJ(ümn(èpih(ns(ìiP(mjnmu(ni(mk(îsL
èi(ljñi(éni(mw(pr(ki(opr(vr(hs(èi(vm(ol(ji(jl(vs(pr(hs(l(ni(èm(îs(èm(ró(hi(urJ(
ürm(ñp(umP(ñpi(in(hr(gs(ìr(opr(vr(hsê(èi(ìi(ks(ns(gi(hpi(wr(kr(wl(ki(ìr(jnr(s(ìik(nm(jhru(nr(
ìip(ji(hr(èm(mîrè(ér(ur(pr(l(vi(ur(nìi(s(èmo(ns(hsu(nr(mw(pr(kr(nm(ui(vr(hi(ps(ìiJ(\êi(ns(gs(jl(
nrh(nm(us(éi(vm(hs(us(jr(ns(s(ljñi(éns(ìs(l(ljur(ìr(nìl(opr(⁄i(èm(ìr(sv(ìi(ìr(jnr(s(wrp(nr(s(oîik(
ìik(nm(jhru(nrP(r(l(lêi(nìl(s(jr(vs(ñps(vi(nìl(ìl(jhpr(hi(os(ìi(ñm(ìik(nm(jhr(uîìs(ur(nìr(lèm(îs(èm(
hm(l(km(umîì(nmì(vi(ps(ns(jl(lês(ns(îs(jr(vs(ñpi(kr(ur(ês(s(rlhm(ps(lkë(wi(ns(èrJ
ürm(kpl(omP((l(jur(èmv(lêi(nìlP(rhprè(hsu(nmjh(mkr(wpr(nmo(nr(jhru(nmo(vr(hi(ps(ìr(îr(
sopr(ur(ënl(ñm(s(hsu(nl(lîm(ol(l(ñm(jhs(r(nìl(rè(hsu(ni(ñr(ënìiP(wm(îìio(pr(l(vi(ur(nìr(s(iûL
èr(jns(ìio(vi(vm(ps(jr(nìr(nr(jhru(ni(ìi(ks(ns(giP(ñr(ìi(jr(vsv(hsvP((nim(jnm(ur(nm(l(nr(jhr(us(
s(kr(îìi(jñpm(um(ks(hs(ki(jhs(vl(îr(hs(urn(vi(ór(nsê(ès(hsñ(ui(ëwr(nìr(èm(ìs(l(mw(pr(ks(ñr(js(ur(kmL
vs(ns(prP(r(ni(ñm(jhm(ìs(l(ñps(pmk(nmv(ljur(ìr(nìl(ìi(s(èrJ
Wr(èpr(ìlP(rîs(vm(ëkr(s(nrì(ur(ëns(ìiP(ni(jvi(ji(r(wm(pr(us(hs(kr(ìi((l(mw(pr(ks(opr(vr(hs(èi(
nim(ñ(ómk(nm(ñm(ui(s(ur(nìi(òmp(vi(s(òlnè(gs(ìi(opr(vr(hsê(èi(ìi(ks(ns(giP(éhm(ji(ñm(jhs(ëi(rkiL
èurh(nsv(ui(ëwr(vr(èm(ìi(lêi(ns(èi(r(s(jhr(ñps(ñpi(vr(ìl(r(wl(kl(íl(ñprè(hsê(nl(lñm(hpi(wl(
hi(ìi(ks(ns(gi(l(èm(vl(ns(èr(gs(ìsJ(üm(vl(ns(èr(hsu(nm(mp(ìin(hs(jr(nrP(èmn(hiè(jhl(rî(nr(ui(ëwr(nìr(
ljvi(pi(nr(jl(s(nr(òlnè(gs(m(nrî(ni(mjm(wi(nm(jhs(opr(vr(hsê(èi(ìi(ks(ns(giP(r(ni(jr(vm(òmpL
vrî(niP(ñr(jr(vsv(hsv(km(ñps(nm(ji(pr(um(ìl(èm(vl(ns(èr(hsu(niP(r(ni(jr(vm(îsn(ous(jhsê(èi(
èmv(ñi(hin(gs(ìi(lêi(ns(èrJ(Vrê(nmjh(s(¿l(inh(nmjh(jl(ñmk(ìik(nr(èm(ur(ëni(l(jr(upi(vi(nmv(
ñps(jhl(ñl(nr(jhr(us(jhpr(nmo(ìi(s(èrP(r(mjnmu(ns(gsîì(lêi(nìr(ìi(s(èr(ìi(nìi(om(ur(ñps(vi(nr(l(
ñpm(gi(jl(èm(vl(ns(èr(gs(ìiJ(öhm(ìi(hrì(gsîì(ìr(jns(ìi(s(pr(ëin(l(jr(vmv(nr(jhru(nmv(ñpm(gi(jlP(
r(ni(jr(vm(l(nr(lê(nsv(hi(m(ps(ìr(vrP(hm(ìi(ljur(ìr(nìi(jhpr(nmo(ìi(s(èr(iû(èr(jns(ìiP(r(jhi(êi(nm(
nr(nìi(kl(om(hprì(ns(ìiJ
3-L-3-XY-/'
Zrpjin(bpiivrnP(XJ(sn(TiîgiLôlpgsrP(ôJP(ikJ(¨KIIK{([@AbJ9:;)]:;C9=J)A=)A)a@bF:H)FG)
vFG@9;:)8A:;AñP(SòmpkP(aîrgèiîî(^lwîsjósnoJ
HMM

X\[S`SWSRV(YbYüQVQ(RQc`YôYWS[(^`URV\^Q(Sa`QXU([`QôQVUüY([`Q´Y
biîs(P(RJP¨KIââ{(YG@A>9Q@)@:k)9:)çg@9>=BGAbJ@:g@Gfs(Un(dlnhL
ûiîkP(dJ(¨ikJP(Wil(^ipjñighsuinkip(bpivkjñprgóinkskrèhsèP(üpmnwipoJ
dmjinòiîkP(TJP(¨KIâã{(êZirpnsno(rwmlh(îrnolroi{(ksjgmuipsno(mlp(jhlkinhjf(jhprhiosijfP(
vFG@9;:)8A:;J@)]:;C9=J)8A:­
;=KH7#V;B;VD>;?
ZSW[LVY`ô(YbbYTVR(UW(TSWVYô^S`Q`†([`QôôQ`(VYQTdUW[
a

V@=:A)O9C9BFQ9û
hsui(ipi(ivñórjsik(prhóip(hórn(hói(jsvsîrpshsij(mò(hóisp(virnsnojJ((Qòhip(hói(hópiiLïirp(
ñipsmkP(hói(pijlîhj(mwhrsnik(jómik(hórh(hósj(hïñi(mò(oprvvrp(hirgósno(pijlîhik(sn((wihhip(
rnk(îmnoipLpihrsnik(ènmîikoi(hórn(hói(hprkshsmnrî(mniJ(
Y@e)gFGH={(rghsuiP(ñrjjsuiP(hprnjòmpvrhsmnjP(rgúlsjshsmnJ
( ( ( (
cijnr(^sîsñmusí
brèlîhih(r(ñpruni(s(ñmjîmuni(jhlksìiP(Wmus(RrkP(Rpwsìr
iLvrsî{(uijnr ñsîsñmusgÀïrómmJgmv
HMH

;>7H7#6789;HD>;?
a3Z+,-0/{*'X*/)*[*k''
10a,-0-X)*Y1û*'4'X*/)*[1'/)3*XZ`'û-§1{*
Vpi(nlh(ni(hió(nm(îm(éèi(snm(ur(gs(ìi(ró(hi(ur(ìl(nm(ui(ui(éhs(ni(s(nr(nìi(mk(jhl(ki(nr(hr(nr(us(jm(èmL
éèmî(jèsv(ljhr(nm(ur(vrJ(\(hmv(ñm(oîi(klP(lêi(nìi(r(jnm(ur(nm(nr(pi(ér(ur(nìl(ñpm(wîi(vr(¨inoJ(
ñpm(wîiv( wr(jik( îi(rp(nsno( ji( s(kur(ìr( èrm( ñps(jhlñ( èm(ìs( vm(ëi( kr( sj(ñl(ns( kr(hi( gs(îìi(uiJ( `rk(
sj(hpr(ël(ìi(sv(ñîi(vin(hr(gs(ìl(

`QA:A)oAG>9:FQ9û
mO')-'Z'31û'/{-'Z/XZ'[-'1/')3*'ó1'[*'Xû*
lOlO'4öA'pôA'z@'GAE'KA'õo'no'pôo'zKF'yBA'Eo'Å''GA'F'KJô'D}J'zKJ'DG@z
\êi(nìi(ñl(hiv(pi(ér(ur(nìr(ñpm(wîi(vr(ìi(ñpi(vr(ôiì(këm(pl(¨ôrïmpP(KIIä(mwpr(muL
ns(ñps(jhlñ(èm(ìs(èr(prè(hi(ps(éi(lñm(hpi(wr(ñpm(wîi(vr(s(jhurp(nmo(ës(um(hr(èrm(sns(gs(ìr(hm(pr(
r(pr(us(ìr(nìi(èps(hsê(èmo(vs(éîìi(nìr(s(ui(éhs(ni(pi(ér(ur(nìr(ñpm(wîi(vr(¨arp(pmjP(KIäMæ(
XlgóP(KIIåJ(Rr(oîi(kr(ur(ìl(ís(s(ñpm(gij(s(nr(jhru(ns(ñîrnP(ñpm(wîiv(jèr(nr(jhr(ur(ji(nrhL
nm( pr(îs(èl(ìi( mk( hpr(ks(gs(m(nrî(nsó( ñi(kr(om(éèsó( vi(hm(kr( èm(ìi( èm(ps(jhi( ñpi(kr(ur(nìi( èrm(
mjnmu(ns(vi(hmk(l(nr(jhr(usJ(^pm(wîiv(jèr(nr(jhr(ur(nr(oîr(ér(ur(rè(hsu(nm(lèîìl(ês(ur(nìi(s(
ñmk(jhs(êi(vi(hr(èmo(ns(hsu(ni(ñpm(gi(ji(èmk(lêi(ns(èrP(nìs(óm(um(pr(vs(éîìr(nìi(m(nìs(óm(umv(
lêi(nìlJ(Susv(ñpm(gi(jmv(lêi(nsè(ji(ñm(vi(pr(mk(ñm(up(énmo(lêi(nìr(l(hpr(ks(gs(m(nrî(nsv(
ñps(jhl(ñs(vr(èr(kl(wîìiv(pr(l(vi(ur(nìlJ(
\ñpr(um(ìi(hm(ñm(vi(pr(nìi(km(ui(îm(km(r(êih(èr(ñpm(wîiv(jèi(nr(jhr(uiJ(^i(ki(jhsó(omL
ks(nr(ñpm(éîmo(ui(èr(vi(ks(gsn(jèi(éèm(îi(jl(ws(îi(r(sn(hi(pi(jm(ur(ni(kr(ñm(wmîì(ér(ìl(èur(îs(hih(
nr(jhr(ui(s(kr(l(jumì(nr(jhru(ns(ñîrn(ñm(pik(ñmk(l(êr(ur(nìr(ñpi(kr(ur(nìiv(lèîìl(êi(s(piL
rî(ni(ës(umh(ni(ñpm(wîi(viP(ñm(jiw(nm(nr(ñpik(vi(hs(vr(èrm(éhm(jl(rnr(hm(vs(ìrP(ñr(hm(îm(os(ìr(
s(òrp(vr(èm(îm(os(ìrJ(Urèm(ji(l(ñm(êih(èl(ñpm(wîiv(jèr(nr(jhr(ur(èm(ps(jhs(îr(l(vi(ks(gsn(jèsv(
éèm(îr(vrP(lwp(m(ji(ñpm(és(ps(îr(s(nr(kpl(oi(mwîr(jhs(èrm(éhm(jl(ñm(jîmu(ni(éèm(îiP(mwpr(mL
ur(nìiP(hió(nsê(èi(éèm(îiP((ñr(êrè(s(nr(ni(èi(mwîr(jhs(èm(ìi(ji(lêi(l(mjnmu(nsv(s(jpik(nìsv(
éèm(îr(vrJ(Vm(èmv(ni(èm(îs(èm(ñpm(éîsó(ki(èr(kr(ñpm(wîiv(jèr(nr(jhr(ur(ji(pr(îs(ês(hm(ñps(viL
nìs(ur(îrP(rîs(ji(sñrè(ni(ès(iîi(vin(hs(ñpm(ës(vr(ìl(èpm(ui(ís(nl(ñps(jhl(ñr{(ljvi(pi(nmjh(èr(
lêi(ns(èlP(îm(éi(jhplè(hl(ps(pr(ns(ñpm(wîi(vsP(vlî(hs(ks(jgs(ñîs(nrp(nmjhP(jr(vm(pi(ol(îr(hsu(nm(lêiL
nìi(rîs(s(èm(îr(wm(pr(gs(ìrJ(
HM§
lOmO'`Bon'pA'}FE'zF'pAp'GA'zKF'yBAE'D}A'po'DGo'nA
^pi(rnr(îs(s(pr(nìr(oîru(nsó(èmv(ñm(nin(hs(ñpm(wîiv(jèi(nr(jhr(ui(ur(ënm(ìi(pr(vm(hpsL
hs(iñs(jhi(vm(îm(éèi(mjnm(ui(èm(ìi(jl(l(jèîr(kl(jr(mumv(vi(hm(km(îm(os(ìmvJ(ürvñ(hup(ks(
kr(ìi(ñpm(wîiv(jèr(nr(jhr(ur(èmn(s(jhinh(nr(jr(hpi(nlh(nsv(û(îm(mò(jèsv(ñm(oîi(ks(vr(nr(
lêi(nìiP(ñm(jiw(nm(èmn(jhplè(hs(us(vmv¥(¨TrvñP(KII§{(§J(Riì(ui(ps(s(Xr(û(¨Rr(uipï(rnk(
XlòïP(KIIã{(Kçã(nr(um(ki(hps(mjnmu(nr(rjñiè(hr(èmn(jhplè(hs(us(vr(èm(ìr(jl(l(ui(s(jr(
ñpm(wîiv(jèmv(nr(jhr(umvJ(^p(us(èmn(giñh(èmn(jhplè(hs(us(vr(èm(ìs(ìi(sîl(jhpm(urn(l(ñpmL
wîiv(jèmì(nr(jhr(us(ìi(kr(lêi(ns(gs(pr(l(vi(ìl(jum(ìi(sn(hip(rè(gs(ìi(jr(mèpl(ëi(nìivJ(Sum(
ìi(l(ñmh(ñl(nm(jhs(jl(ñpmh(nm(mk(û(îm(m(û(ìi(mwìiè(hs(us(jhsê(èi(hpr(ks(gs(ìi(èm(ìr(ñmk(pr(l(vi(ur(
kr(nr(êi(nìr(ñm(jhm(ìi(l(jui(hl(ni(r(us(jnm(mk(sn(ks(us(klrJ(Xpl(os(èmn(giñh(ìi(kr(ìi(lêiL
nìi(pi(lî(hrh(èmo(ns(hsu(nmo(èmn(¿sè(hrJ(ür(kr(ji(lêi(ns(gs(vr(ñpl(ës(vm(olí(nmjh(kr(jr(vs(
mkr(wi(pl(jvip(jumo(lêi(nìrP(lêi(nìi(ñm(ñps(vr(îsê(ns(gsîì(s(jhl(kin(hs(jl(vm(hs(us(jr(ns(kr(
skl(kr(îìi(mk(ñmupé(nmo(ns(umr(lêi(nìrJ(Wr(èpr(ìlP(ñpi(vr(hpi(íiv(èmn(giñ(hl(èm(ìs(jñrL

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
ìr(ñpm(wîiv(jèl(nr(jhr(ul(s(èmn(jhplè(hs(us(rvP(nr(nìi(vm(pr(ws(hs(hi(jhs(pr(nm(èpm(ñpm(gij(
kpl(éhui(nmo(ñpi(om(ur(pr(nìrJ
Urèm(jl(mjnm(ui(ñpm(wîiv(jèi(nr(jhr(ui(nr(jhr(îi(s(èmn(jhplè(hs(us(jhsê(èi(û(îm(m(û(ìi(viL
hm(ki(jñpm(um(⁄i(nìr(mumo(ñps(jhl(ñr(ur(ps(pr(ìlJ(Uñrè(ñpi(oîi(kmv(îs(hi(pr(hl(pi(m(èpi(s(pr(nìl(
s(ñm(pi(èîl(ñpm(wîiv(jèi(nr(jhr(ui(ius(kinh(nm(ìi(kr(jus(ñps(jhl(ñs(ñpm(wîiv(jèmì(nr(jhr(us(
svr(ìl(ni(èi(r(ìik(nsê(èi(iîi(vin(hi(ui(r(nm(r(mjvs(éîìr(ur(nìi(s(sv(ñîi(vin(hr(gs(ìl(nrL
jhru(nsó(rè(hsu(nm(jhsJ(Wr(pik(ns(kim(sj(hs(êi(r(ìik(nsê(èi((èmv(ñm(nin(hi(èm(ìi(jl(jl(éhsn(jèi(
r(ñpm(wîiv(jèl(nr(jhr(ulJ(((
r(\jvi(pi(nm(èr(lêi(ns(èl(
Wrì(ur(ëns(ìi(l(èmn(giñ(hl(ñpm(wîiv(jèi(nr(jhr(ui(ìi(ñs(hr(nìi(èm(ìi(òm(èlj(s(nr(èm(vi(ìi(
mk(om(ump(nmjh(ñpm(gi(jr(lêi(nìrJ(ciì(vip(¨©i(s(vipP(HMMH(mñs(jl(ìi(hpr(ks(gs(m(nrî(nl(vi(hmL
kl(s(nr(um(ks(kr(ìi(nr(jhru(nsè(rè(hsu(nm(lèîìl(êin(l(ñpm(gij(lêi(nìrP(nr(jhru(nsè(mk(pi(⁄l(ìi(
jr(kp(ërìP(s(nm(js(jr(kp(ërìP(um(ks(prj(ñpr(ul(s(jl(vs(pr(èîìlê(ni(èmn(giñ(hiJ(Vr(èm(jhl(kin(hs(
êi(jhm(vi(vm(ps(élP(r(wm(pr(uiP(ni(ñps(vi(niP(ni(ñm(ui(ël(nr(nìi(s(svr(ìl(mh(ñmp(ñpi(vr(
kr(îìiv(lêi(nìl¥(¨TrvñP(KII§{(HJ(Uvr(ìl(ís(l(us(kl(hr(èui(s(ìr(ui(ñm(jhr(ìi(ìr(jnm(kr(
ìi( ñm(hpiw(nr( ñpi(pr(jñm(ki(îr( jnr(oi( l( lês(m(ns(gsJ( bm(èlj( ji( ñm(vi(pr( nr( lêi(ns(èrP( kr(ìi(
sv(jnr(ol(l(mèpl(ëi(nìl(èm(ìi(ni(jr(vm(kr(sv(km(um(îìr(ur(uií(s(mêi(èl(ìi(kr(ñpi(l(vl(
mk(om(ump(nmjh(r(jum(ìi(lêi(nìiJ(Wr(èmn(jui(orP(ls(vr(ìl(ís(l(mw(sp(èîìlê(ni(ski(ìi(èmnL
jhplè(hs(us(vr(lêi(ns(gs(s(nìs(óm(um(sj(èl(jhum(vm(pr(ìl(kr(jr(opr(ki(sn(ks(us(kl(rî(ni(ñip(giñ(gsL
ìi(s(èmn(giñ(hi(jhi(êi(nmo(nr(nìr(¨Rr(uipï(rnk(XlòïPKIIãJ(
w(Zm(éi(jhplè(hl(ps(pr(ns(ñpm(wîi(vs((
Swpr(mu(ns(gsîì(ñpm(wîiv(jèi(nr(jhr(ui(nr(jhm(ìs(kr(vm(hs(us(éi(s(rn(or(ël(ìi(jhl(kin(hi(kr(
sj(hpr(ëi(CF)W@)=>GA):EA(mhum(pi(nmo(hs(ñr(jr(èm(ìs(vr(íi(ji(jpi(jhs(l(pi(rî(nmv(
ës(um(hl¥(¨drp(ñipP((HMMK{(KKJ(Sus(CF)W@)=>G

`QA:A)oAG>9:FQ9û
sj(hs(êi(kr(ni(ès(rlhm(ps(km(um(ki(l(ñs(hr(nìi(nim(ñ(ómk(nmjh(èm(îr(wm(pr(gs(ìi(l(pi(ér(ur(nìl(ñpmL
wîi(vrJ(UñrèP(rèm(ji(km(krP(mur(èmv(ñm(nin(hr(vm(ëi(kr(mwi(wi(ks(ñm(s(hs(urn(iòi(èrh(
èpm(ñm(ui(ír(nìi(vm(hs(ur(gs(ìiJ(öhr(us(éiP(rèm(ji(ñpm(wîi(vs(sj(ñpru(nm(èpi(s(pr(ìl(s(rèm(jl(
èmv(ñîiè(jni(ñps(pm(kiP(jhl(kin(hs(vm(ol(kr(ñm(jvr(hpr(ìl(èm(îr(wm(pr(gs(ìl(èrm(nim(ñ(ómk(nl(
r(ljñi(énm(pr(pi(éi(nìi(ñpik(vi(hr(èm(ìs(ji(s(l(êr(ur(l(kr(hmì(rè(hsu(nm(jhsJ(
Xm(krh(nmP(ñpm(gij(èm(îr(wm(pr(gs(ìi(l(opl(ñs(ñm(vr(ëi(lêi(ns(gs(vr(kr(ñpi(ñm(nr(ìl(ñpihL
ómk(nm(nr(nìi(èm(îiè(hs(urJ(\ñm(hpi(wmv(mumo(ñpih(ómk(nmo(èm(îiè(hsu(nmo(nr(nìr(lêi(nsè(
vm(ëi(kr(jsn(hi(hs(l(ìi(nm(ul(sn(òmp(vr(gs(ìl(s(èpi(s(pr(nm(um(pr(l(vi(ur(nìi(sîs(èmo(ns(gs(ìl(mk(
ñpih(ómk(nmo(sj(èl(jhurJ(Xmè(opl(ñr(ks(jèl(hl(ìiP(pr(om(ur(pr(m(ñpm(wîi(vlP(oi(ni(ps(éi(ós(ñmL
hi(i(s(skin(hs(û(èl(ìi(pi(îi(urnh(ni(òrè(hm(pi(s(nìs(óm(umo(ñpih(ómk(nmo(èm(îiè(hsu(nmo(nr(nìrP(
êi(jhm(ñm(jhr(ìi(s(mês(oîik(nm(kr(sv(ni(km(jhr(ìl(vnm(os(ki(îs(ís(ñpm(wîi(vr(èm(ìs(jl(nim(ñ(ómkL
ns(kr(ws(ji(pi(ésm(ñpm(wîivJ(¨Yuin(jin(…(dvi(îmP(HMMMJ(ür(kr(ji(hm(ñm(ìr(usP(km(îr(s(
km(ñm(ki(îi(pr(kr(éhm(ìi(èmv(ñm(nin(hr(

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
Uñrè(Qprv(wl(îr(¨Qprv(wl(îrP(KIIã(hup(ks(kr(mgi(nìs(ur(nìi(nr(ni(hpr(ks(gs(m(nr(îrn(nrL
êsn( vm(ëi( ws(hs( sr(muJ( ôiì(këmp( s( ^rî(vip( ¨ôrïmp…^rî(vipP( HMMK( ñm(um(kmv( mui(
ñm(hi(éèm(íi(ñpik(îr(ël(kr(mgi(nìs(ur(nìi(hpi(wr(kr(wl(ki(rlhin(hsê(nm(s(nr(jhr(îm(s(pi(rî(nsó(
rè(hsu(nm(jhs(l(ñpm(òi(js(m(nrî(nmv(jui(hl¥((¨ôrïmp(s(^rî(vipP((HMMK{(çJ
^p(us( hsñ( ñpi(ñm(pl(êi(nmo( mgi(nìs(ur(nìr( mjîr(nìr( ji( nr( lêi(ns(èi( kr( jr(vs( jñpm(ui(kl(
sjèpi(nm(mgi(nìs(ur(nìiJ(Rhl(kinh(vm(pr(kr(sj(ñs(hr(ljñió(s(ñrk(nìs(óm(usó(nr(ñm(pr(l(mumv(
mèpl(ëi(nìl( kr( ws( nr(ñpr(us(îs( ñpm(opij( l( wl(kl(ísv( nr(jhm(ìr(nìs(vrJ( ar(pmuj( ¨arp(pmjP(
KIäM(ñm(kp(ër(ur(jr(vm(m(gi(nìs(ur(nìi(s(hup(ks(jr(vm(m(gi(nìs(ur(nìi(ìi(ijin(gs(ìrî(nr(ui(éhs(nr(
ljñi(énmo(ni(r(us(jnmo(lêi(nìr¥(éhm(ìi(ni(r(vi(nìs(ur(èmv(ñm(nin(hr(ñpm(wîiv(jèi(nr(jhrL
ui(èrm(s(lêi(nìr(èrm(ñpm(gi(jr(èm(ìi(hpr(ìi(gim(ës(umh(¨XlgóP(KIIåJ
^m(pik( jr(vm(m(gi(nìs(ur(nìr( ñm(jhm(ìs( ìmé( ni(èm(îs(èm( vi(hm(kr( èm(ìi( ji( vm(ol( èm(ps(jhs(hs(
l(jup(ól(mgi(nìs(ur(nìrJ(Rîsê(nm(jr(vm(m(gi(nìs(ur(nìl(ws(îm(ws(mgi(nìs(ur(nìi(êîr(nm(ur(opl(ñiJ(
^pi(vr(ar(pmu(jl(¨arp(pmjP(KIäM(ñps(îs(èmv((pr(kr(l(opl(ñs(ñm(ìi(ksn(gs(jóur(hr(ìl(kr(ìi(
r( nìsó( nim(ñ(ómk(nm( kr( wl(kl( ñpm(klè(hsu(ns( s( kr( km(ñps(ni(jl( oi(ni(ps(jr(nìr( pi(éi(nìr( r(
ñpm(wîivJ(Sgi(nr(kpl(osó(êîr(nm(ur(opl(ñi(km(um(îìr(ur(êîr(nm(us(vr(opl(ñi(kr(ñm(hup(ki(
nr(ñm(pi(s(km(ñps(nm(ji(èm(ìi(kpl(os(êîr(nm(us(opl(ñi(ñpl(ër(ìl(ñpm(gi(jlJ
ôiì(këmp(s(^rî(vip(¨ôrïmp(s(^rî(vipP(HMMK{(§(ñpik(îr(ël(kpl(oi(rlhin(hsê(ni(hió(ns(èi(
mgi(nìs(ur(nìrJ(^m(éhm(ìi(gsîì(ñpm(wîiv(jèi(nr(jhr(ui(kr(ñm(ui(ëi(lêi(nìi(s(js(hl(r(gs(ìi(s(pi(rî(nmo(
ës(um(hr(lñm(hpi(wr(jhplê(nìr(èr(s(jñm(îìr(énìio(jui(hr(èrm(ñpm(gi(nìs(ur(êr(ul(ês(ñps(èîrk(nmJ(
Wrì(ñm(ëiîì(ns(ìi(rè(hsu(nm(jhs(vm(ol(jr(kp(ër(hs{(ñpi(in(hr(gs(ìiP(ñs(jr(ns(ñpm(ìiè(hsP(ñmph(m(îs(ìiJ(XplL
oi(mgi(ni(vm(ol(km(ís(s(òm(èl(jnsó(opl(ñrP(kniu(ns(èr(sîs(rè(hsu(nm(jhs(èrm(éhm(jl(um(⁄i(nìi(
wi(îi(éèsP(rnr(îs(i((ñpm(ìi(èr(hr(s(vnm(oi(kpl(oi(¨ôrïmp(s(^rî(vipP((HMMK{(§J
ó(\îm(or(nr(jhru(ns(èr(
ciw(¨©iwwP(HMMH{(H(ki(û(ns(éi(lêi(nìi(ñl(hiv(pi(ér(ur(nìr(ñpm(wîi(vr(èrm(lêi(nìi(
èm(ìi(vm(pr(svr(hs(òm(èlj(ljvi(pin(nr(lêi(ns(èr(s(lj(ñm(jhr(uîìr(nìi(ui(éhs(nr(

`QA:A)oAG>9:FQ9û
ar(pmuj(¨arp(pmjP(KIäM(hup(ks(kr(ñpm(wîiv(jèr(nr(jhr(ur(ñm(ês(ur(nr(ui(éhs(nr(vr(s(
jñm(jmw(nm(jhs(vr(hl(hm(prJ(\(hpi(nlh(nmì(îs(hi(pr(hl(ps(m(nr(nìl(hl(hm(pr(èr(ël(kr(ìi(lîm(or(ñmL
vr(or(êr(km(ni(èîi(ni(ìr(jnrJ((Wr(ñs(hr(nìi(éhr(èmn(jhs(hl(s(éi(opr(ns(gl(s(vi(⁄l(ñpi(kr(ur(nìr(
s(ñm(vr(or(nìrP(Rr(usn(s(ôiì(këmp(nr(um(ki{(^m(vr(or(nìi(ni(ñmk(pr(l(vi(ur(ñpm(gi(kl(pi(
s(ñpr(us(îr(uií(èpi(s(pr(nìi(pr(îs(ês(hsó(vm(olí(nm(jhs(r(lêi(nìi¥(¨Rr(usnLar(kin(s(ôr(ìmpP(
HMM§{(HâJ
lOuO'aKF'yBAE'J'|o'Ho'Go}O'ÖGo'ôA'zKF'yBAE®à
^pi(vr(cs(îm(hs(ìi(us(íl(¨cs(îm(hs(ìi(usíP(KIII{(H§K(ñm(ìrv(ñpm(wîiv(s(ñm(ìrv(r(kr(hrè(ni(
hpi(wr(ñm(s(jhm(ui(ís(ur(hsJ(õr(kr(hrè(ìi(vnm(om(és(ps(s(mw(l(óurh(ns(ìs(ñm(ìrvJ(\êi(ns(èl(ji(vm(ëi(
r(kr(hs(kr(ñpi(ñps(êr(ni(ès(hièjhP(kr(nr(l(ês(ñi(jvl(nr(ñr(vihP(r(ñrv(hs(s(pi(ñpm(kl(èl(ìi(niL
ès(jr(kp(ërìP(kr(nr(mjnm(ul(ni(èm(îs(èm(mês(oîik(nsó(ñps(vi(pr(s(ul(êi(r(èîìl(êrèP(kr(lpr(ks(
ni(éhm(nr(mjnm(ul(ñm(nr(hmo(mwpr(jgrJ(U(ñpm(wîiv(ìi(r(kr(hrè(èm(ìs(hpi(wr(pi(és(hsP(rîs(mn(
ji(wsh(nm(pr(îs(èl(ìi(mk(ñpih(ómk(nm(nr(ui(ki(nsó(r(kr(hr(èrJ(Qlhmp(nr(um(ks(kr(ìi(ñpm(wîiv(
r(kr(hrè(èm(ìs(svr(jîi(ki(ír(mwi(îië(ìr{
r(ni(jhm(ni(ñm(nr(hmP(ni(èl(ñpr(ns(nl(èm(ìl(hpi(wr(mh(èps(hs(s(ñm(ñl(ns(hs(nr(mjnm(ul(
ñm(kr(hr(èr(s(mk(nm(jr(èm(ìs(ns(jl(s(ps(ês(hm(kr(hsæ
w(pr(îs(êsh(wpmì(vm(olí(nm(jhs(r(pi(ér(ur(nìi(¨ìik(nr(sîs(us(éiæ
g(ui(îs(èl(èmv(ñîiè(jnmjh(¨r(pi(éi(nìi(hpi(wr(èm(ps(jhs(hs(ui(îs(ès(wpmì(jîm(ëi(nsó(îm(osêL
èsó(mñi(pr(gs(ìræ
k(pi(éi(nìi(ji(nr(îr(s(ni(ñm(vm(íl(ni(èmo(ljhr(îìi(nmo(mwpr(jgr(¨rî(om(psh(vr(ni(om(
ìi(r(hm(ñm(hpi(wrn(jhur(pr(îrê(ès(ñps(jhlñ(s(sj(èl(jhumæ
i(pi(éi(nìiv(ñpm(wîi(vr(ñpm(kl(wîìl(ìi(ji(nr(nìiP(ljur(ìr(ìl(nm(ui(jhplè(hl(pi(jr(nrL
ur(nìr(s(pr(us(ìr(ìl(lv(ni(jñm(jmw(nm(jhsJ
Wi(éhm(ni(ñm(nr(hm(ês(ns(r(kr(hrè(ñpm(wîi(vmvJ(Vs(vi(ji(mnr(êr(ur(kr(s(vi(⁄l(gs(îìr(s(
ljîm(ur(kr(ji(mn(mjhur(ps(ñm(jhm(ìs(ni(jèîrkJ(Wi(vr(ni(èsó(iîi(vi(nr(hr(¨ñm(kr(hr(èr(nim(ñL
ómk(nsó(r(pi(ér(ur(nìi(ñr(lêi(nsè(ni(vm(ëi(kr(pi(és(r(kr(hrè(nr(ljhr(îìin(nr(êsn(uií(vm(pr(
kr(hpr(ës(ni(ès(nm(us(ñlh(mjîr(nìr(ìl(ís(ji(nr(jhur(pr(îrê(èm(vs(éîìi(nìiJ
HMä
lOúO'aKF'yBAE'D}o'DJ'G@'o'qJ'ôoO'Go'ôA'zKF'yBAE'D}o'DJ'G@'o'qJ'ôo®'
^pm(wîiv(jèr(js(hl(r(gs(ìr(jr(kp(ës(l(ji(ws(ni(jr(vm(ñpik(vih(nmLjr(kp(ësn(jèl(ni(om(s((vmL
hs(ur(gs(m(nl(èmv(ñm(nin(hlJ(\êi(nsè(ji(nr(îr(s(ñpik(r(krh(èmv(kr(mh(èps(ur(nm(urP(km(hrk(
ni(ñm(nr(hr(nr(nìr(s(nr(ês(ni(ki(îm(ur(nìrJ(\v(nm(nr(ñpi(r(nìi(ñpr(íi(nm(ìi(ivm(gs(m(nrî(nmv(
s(nip(unmv(nr(ñi(hm(éílJ(U(îr(s(ñpm(wîiv(jèi(js(hl(r(gs(ìi(ìi(jr(vm(ìi(krn(L(ljñi(énm(pi(éiL
nìi(ñpm(wîiv(jèmo(r(krh(èrJ(^m(jhm(ìs(us(éi(nr(ês(nr(jhur(pr(nìrP(r(jómk(nm(hm(viP(s(hs(ñm(urP(
ñpm(wîiv(jèsó(js(hl(r(gs(ìrJ(ôJ(UJ(ôró(vl(hmu(¨ôró(vl(hmuP(KIâå(ñm(vs(nìi(kr(mni(nrL
jhr(ìl(ñps{

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
L( jl(jpi(hl(lêi(ns(èr(jr(ës(umh(nsv(ñm(ìr(ur(vr(s(ês(nìi(ns(gr(vr(èm(ìi(hpr(ëi(hi(m(psì(jèm(
mw(ìr(énìi(nìiæ
L( mp(or(ns(r(gs(ìs(ñprè(hsê(nmo(pr(kr(lêi(ns(èræ
L( ñm(èl(ér(ìs(vr(lêi(ns(èr(kr(rnr(îs(spr(ìl(ës(umh(ni(ñm(ìr(ui(èm(ìi(mk(l(kr(pr(ìl(mk(nìsL
óm(usó(ñpi(⁄r(énìsó(ñpik(jhr(uræ
L( òmp(vl(îs(jr(nìl(ós(ñm(hi(ræ
L( nr(jhm(ìr(nìl(lêi(ns(èr(kr(lñm(pi(⁄l(ìl(s(jl(ñpmh(jhr(uîìr(ìlæ
L( nr(jhm(ìr(nìl(kr(ji(lmñ(éhr(ur(ìl(nm(ur(òrè(hræ
L( sj(hr(pr(ës(urê(èsv(r(kr(gs(vrJ
mOO'aKF'qAD'KA'õo'no'pôo'zKF'yBA'Eo
\(hi(m(ps(ìs(¨cs(îm(hs(ìi(usíP(KIII{(H§H(ìi(nrì(ñps(óur(íi(ns(ìi(jîi(ki(íi(mw(ìr(énìi(nìi(ñpm(giL
jr(pi(ér(ur(nìr(ñpm(wîi(vrP(mnm(svr(ni(èi(km(ksp(ni(hrê(èi(jr(oi(éhrî(hs(jhsê(èmv(hi(m(ps(ìmvJ
r(\ñm(nr(ur(nìi(ñpm(wîi(vr{(ñm(ìi(ks(nrg(lñm(nr(ìi(iîi(vin(hi(ñpm(wîi(vrP(nr(jhm(ìs(
kr(jóur(hs(nìs(óm(ui(vi(⁄l(jmw(ni(ui(i(s(mk(nm(jiJ
w(Rl(ër(ur(nìi(8(pi(òmp(vl(îr(gs(ìr(ñpm(wîi(vr{(nr(mjnm(ul(rnr(îs(i(s(lñm(pi(⁄s(ur(nìr(
prj(ñm(îm(ës(usó(ñm(kr(hr(èr(jr(mnsv(éhm(ìi(r(kr(hmP(ñm(ìi(ks(nrg(lus(⁄r(éhr(ni(km(jhr(ìiP(l(êiL
vl(ìi(ñpr(ns(nr(s(hpr(ës(nr(êsn(pi(ér(ur(nìrJ
g(^m(jhr(uîìr(nìi(ós(ñm(hi(i{(rnr(îs(mv(kr(hmo(s(r(kr(hmoP(jr(oîi(kr(ur(nìiv(s(îm(èr(îsL
m(ur(nìiv(hi(éèm(íi(ñm(ìi(ks(nrg(ñm(jhr(uîìr(ós(ñm(hi(l(r(pi(éi(nìi(ñpm(wîi(vrJ
k(^pm(ui(pr(ur(nìi(ós(ñm(hi(i{(ñm(ìi(ks(nrg(ñm(îr(s(mk(hm(or(kr(ìi(ñm(jhr(usm(sj(ñpru(nl(
ós(ñm(hi(l(ìip(ìi(ljèîr(⁄i(nr(jr(sr(wpr(nsv(nr(ês(nmv(hpr(ëi(nìr(pi(éi(nìr(s(ñm(ñl(nìr(ur(ñprL
ns(nl(l(kr(hsv(ñm(kr(gs(vrJ(ds(ñm(hi(r(ìi(pi(éi(nìi(èm(ìi(hpi(wr(ñpm(ui(ps(hsJ
mO'0-')Z'.Z',Z'`1'û*'1/')3*'ó1'[*'Xû*
\(mumv(ñm(oîr(uîìl(nr(ui(ki(ns(jl(gs(îìi(us(sj(hpr(ës(ur(nìrP(s(ñps(èr(r(ni(ós(ñm(hi(i(èmL
ìi(jl(ws(îi(sj(ñs(hr(ni(hm(èmv(sj(hpr(ës(ur(nìrJ(Vr(èm(⁄iP(mw(ìr(énìi(ns(jl(sn(jhpl(vin(hs(èm(ìs(jl(
èm(ps(éhi(ns(l(sj(hpr(ës(ur(nìl(s(nr(ui(ki(ns(pr(îm(s(r(jñm(pm(um(⁄i(nìi(vr(nìio(èur(îs(hr(hsu(nmo(
sj(hpr(ës(ur(nìrJ(
mOlO'aKAH'EAG'JD'GKo'òJ'no'pôo
`r(usg(¨`r(ushP(HMMI(sj(hs(êi(kr(nm(ui(jhl(ks(ìi(l(mwîr(jhs(ñpm(wîiv(jèi(nr(jhr(ui(vmL
pr(ìl(mk(pi(ks(hs(èr(èm(ws(ñpm(wîiv(jèr(nr(jhr(ur(hpi(wr(îr(kr(ji(èm(ps(jhs(l(èmn(hiè(jhl(nm(usó(
ks(jgs(ñîs(nr(èrm(éhm(ìi(lêi(nìi(jhpr(nmo(ìi(s(èrJ(Ujhs(rlhmp(sj(hs(êi(¨`r(ushP(HMMI{(â(kr(ìi(
ar(pmu(jm(ur(ki(û(ns(gs(ìr(ñpm(wîiv(jèi(nr(jhr(ui(l(vi(ks(gs(ns(s(kr(îìi(nr(és(pm(èm(ñps(óur(íi(nr(
HMI

`QA:A)oAG>9:FQ9û
rîs(ìi(ìr(èm(wsh(nm(hpr(or(hs(r(ur(ps(ìr(gs(ìr(vr(hm(èmv(ñps(vi(ni(l(kpl(osv(mwîr(jhs(vr(s(ñmL
jui(hs(hs(ñr(ënìl(nr(jhru(nmv(ñîr(nl(êr(jr(nr(èm(vi(ws(ji(mk(⁄r(èr(hpr(ës(îm(kr(èpm(pi(ér(urL
nìi(ñpm(wîi(vr(ljr(up(éi(jum(ìi(ìi(sê(èi(ui(éhs(niJ(Vr(èm(⁄i(ìi(nim(ñ(ómk(nm(ki(hrîì(ns(ìi(jr(oîiL
kr(hs(èm(ìs(ws(hsñ(ñpm(wîi(vr(wsm(nrì(r(ki(èurh(ns(ìs(ñps(ñpi(kr(ur(nìl(s(lêi(nìl(jhpr(nmo(ìi(s(èrJ(
mOmO'YJBô'J'|o'Ho'qJ'JD'GKo'òJ'no'pôo
Tsîì((sj(hpr(ës(ur(nìr(èm(ìi(ìi(rlhmp(jñpm(uim(ìi(wsm(kr(ji(km(ws(ìi(lusk(l(jhr(um(ui(lêiL
ns(èr(s(nr(jhru(ns(èr(ñpi(vr(êr(jl(ñpm(wîiv(jèi(nr(jhr(ui(nr(êr(jm(us(vr(in(oîi(jèmo(ìi(sL
èrJ(üpm(èur(îs(hr(hsu(nm(sj(hpr(ës(ur(nìi(sj(hpr(ës(urê(ìi(ëi(îim(kr(sj(hpr(ës(kr(îs(ñm(jhm(ìs(ni(èr(
èm(pi(îr(gs(ìr(s(vi(⁄l(jhr(um(ur(lêi(ns(èr(s(nr(jhru(ns(èr(ñm(ñs(hr(nìl(ñpm(wîiv(jèi(nr(jhr(uiP(
nìs(óm(usó(jhr(um(ur(ui(r(nm(r(ui(ëwi(èm(ìi(hpi(wr(kr(ji(èm(ps(jhi(s(hs(ñr(ñpm(wîi(vr(èm(ìs(ìi(
ñps(èîr(krn(nr(êr(jl(jhpr(nmo(ìi(s(èrJ((
U(mur(èm(ki(û(ns(jr(nmo(gs(îìr(sj(hpr(ës(ur(nìr(s(ui(ki(ns(jl(ñm(jiw(ns(r(kr(gs(sj(hpr(ës(ur(nìrJ
KJ(üm(ìi(ws(rè(hsu(nm(jhs(hpi(wr(îi(kr(km(⁄l(nr(ñm(êih(èl(êr(jrP(l(hm(èl(ñpm(gi(jr(pi(érL
ur(nìr(ñpm(wîi(vr(r(èm(ìi(ws(rè(hsu(nm(jhs(ws(îi(nrì(ñps(èîrk(ns(ìi(r(lhup(⁄s(ur(nìi(jhi(êi(nmo(
nr(nìr¬
HJ(üm(ìs(ws(hsñ(ñpm(wîi(vr(hpi(wrm(kr(ji(èm(ps(jhs(nr(êr(jl(jhpr(nmo(ìi(s(èr¬
çJ(õr(us(jnm(mk(gs(îìr(êr(jrP(èm(ìs(ws(hsñ(ñpm(wîi(vr(mk(om(ur(prm(èmv(gs(îìl(êr(jr¬
mOuO'0A'GF'HAÄ'GAt'pJ'}A'J'Jp'DGK@'EAp'GJ'JD'GKo'òJ'no'pôo
ôi(hm(kr(sj(hpr(ës(ur(nìr(èm(ìr(ìi(ñps(vi(nìi(nr(l(mumv(ñs(îmh(sj(hpr(ës(ur(nìl(ìi(9=)>GA)9r
QAX)RAs(Uj(hpr(ës(urê(èr(vi(hm(kr(ji(êi(jhm(mjîr(nìr(nr(ji(èln(krp(nm(sj(hpr(ës(ur(nìi(èrm(éhm(ìi(
ñps(èr(s(ur(nìi(km(jhlñ(ni(îs(hi(pr(hl(pi(s(ñm(kr(hr(èr(sîs(nr(èur(îs(hr(hsu(ns(ñps(jhlñ(èrm(éhm(jl(
ni(òmp(vrî(ns(pr(om(um(ps(jr(sj(ñs(hr(ns(gs(vr(sîs(vr(îm(òmp(vrî(ns(ìs(ñps(jhlñ(èpm(sn(hip(uìliP(
pr(om(um(pi(jr(gsîì(nmv(opl(ñmvP(jhl(ks(ìi(jîl(êr(ìrP(ñs(îmh(sj(hpr(ës(ur(nìr(sîs(ñpm(ìièh(vi(hmL
klJ(`i(lî(hr(hs(sj(hpr(ës(urê(èi(vi(hm(ki(mwsê(nm(ji(ni(èm(ps(jhi(r(km(nm(éi(nìi(mk(îl(èr(uií(
kr(ws(jhi(èîs(km(wrp(lusk(l(ñpm(wîiv(èm(ìs(sj(hpr(ël(ìi(vm(s(mwsê(nm(ji(ni(vm(ol(èm(ps(jhs(hs(
kr(ws(ji(ñm(ñl(îr(gs(ìr(oi(ni(pr(îs(m(ur(îrJ(\(vnm(osv(kpl(éhui(nsv(nr(l(èr(vr(sj(hpr(ës(urê(èr(
vi(hm(kr(ñm(èl(ér(ur(kr(mh(èps(ìi(èr(èm(ji(îìl(ks(mji(ír(ìl(l(mèpl(ëi(nìl(èm(ìi(ji(sj(ñs(hl(ìiP(
èm(ìr(nr(êi(nìr(ñps(ñs(jl(ìl(jum(ìsv(ki(îs(vr(s(éhr(só(r(ns(vrJ(Tsîì(ìi(kr(ji(sj(ñs(hr(kpl(éhuiL
ns(òi(nm(vin(wi(ìr(jnsó(mêi(ès(ur(nìrJ¥(¨RólhhP(HMMãJ(Sur(vi(hm(kr(ji(êi(jhm(nr(s(ur(s(
sn(hip(ñpi(hr(hsu(nm(sj(hpr(ës(ur(nìi(s(ñpik(jhr(uîìr(ñm(èl(érì(kr(ji(hi(m(ps(ìr(mh(èps(ìi(nr(mjnm(ul(
jr(vsó(ñm(kr(hr(èr(ñpi(ni(om(s(ñpik(m(kpi(⁄i(ni(ós(ñm(hi(iJ(
Vió(ns(èi( sj(hpr(ës(ur(nìr( èm(ìi( jvm( ñps(vi(ns(îs( jl) 9:)>@G)QE

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
vr(jr(gs(îìiv(kr(ñm(ìr(jns(vm(nrì(wm(îìi(nr(ês(ni(r(sv(ñîi(vin(hr(gs(ìl(lêi(nìr(èpm(pi(ér(urL
nìi(ñpm(wîi(vr(l(nr(jhr(us(in(oîi(jèmo(ìi(s(èr(èmk(sn(hip(uìl(s(jr(nmo(jhl(kin(hrJ(((
Un(hip(uìls(vm(ol(ws(hs(èr(hi(om(ps(m(ur(ns(ñpi(vr(jhlñ(nìl(jhplè(hl(piJ(Zsn(èmîn(s([l(wr(
¨Zsn(èmîn(s([l(wrP(KIåä{(Hãä(ñpr(ui(pr(îs(èl(s(vi(⁄l(jhplè(hl(ps(pr(nmo(sn(hip(uìlr(èr(kr(
mjm(wr(èm(ìr(sn(hip(uìl(s(éi(nr(éhr(ni(nr(s(vm(ëi(kr(ñm(jhr(us(mk(om(ur(pr(ìl(ír(ñs(hr(nìr(kr(
hm(mh(èps(ìi(kmè(ìi(ni(jhplè(hl(ps(pr(ns(sn(hip(uìl(èr(kr(mjm(wr(èm(ìr(sn(hip(uìl(s(éi(ni(nr(éhr(ni(
nr(mjîr(nìr(ji(nr(sj(ñs(hr(ns(èr(kr(íi(vl(hm(pi(ísJ(Un(hip(uìl(vm(pr(ws(hs(ñmk(upo(nlh(hps(rn(olL
îr(gs(ìs(s(ñpm(ui(pr(ur(nìl(jhi(êi(nsó(ñm(kr(hr(èrJ(õr(mum(sj(hpr(ës(ur(nìi(mkr(wpr(îs(jvm(Q@)kA):9)
9:)>@G)QEA:)HAG)H9)kF)QA):9)F>QF)G@):9)
9:)>@G)QEA):AR)9=)B9)>A):9)RA)HA)Q=)9:)>F)U@G)P@)H9)A)>@(ns(umlJ(\(nìsL
óm(umv(lkë(wi(ns(èl(ni(vr(ñps(vi(pr(r(kr(hr(èr(èm(ìs(ró(hi(ur(ìl(mk(lêi(ns(èr(kr(èm(ps(jhi(
HKK

`QA:A)oAG>9:FQ9û
lêi(nìi(èpm(pi(ér(ur(nìi(ñpm(wîi(vrP(rîs(sv(ìi(nr(jhru(ns(gr(pr(ns(ìi(km(nm(js(îr(mul(up(jhl(
r(kr(hr(èr(hr(èm(kr(jl(lêi(nsè(s(lêi(ns(gr(lñm(nr(hs(jr(kr(hmv(nr(jhru(nmv(vi(hm(kmvJ
Uj(hpr(ës(ur(nìi(ìi(hr(èm(⁄i(lèîìl(ês(îm(s(nr(jhru(ns(èr(in(oîi(jèmo(ìi(s(èrJ(Uj(ñs(hr(nsè(èm(ìs(
ìi(lêi(jhum(urm(l(èur(îs(hr(hsu(nmv(sj(hpr(ës(ur(nìl(pr(ks(uií(ñih(om(ks(nr(l(jhpl(gsJ(\(jumv(
pr(kl(kp(ërm(ìi(nr(jhr(ul(ñm(jîmu(nmo(in(oîi(jèmo(ìi(s(èr(ñm(êiu(mk(mjnmu(nsó(km(nr(ñpikL
nsó(èlp(ji(ur(r(hr(èm(⁄i(ji(jl(jpi(hrm(jr(pr(îs(ês(hsv(lkë(wi(ns(gs(vr(èm(ìs(jl(ji(mw(pr(⁄s(ur(îs(
nr(hsv(êr(jm(us(vrJ(Xm(wpm(ìi(lñm(nrh(jr(lêi(nìiv(èpm(pi(ér(ur(nìi(ñpm(wîi(vr(ìip(ji(
l(vnm(osv(lkë(wi(ns(gs(vr(jl(jpim(jr(r(krh(èmv(pi(ér(ur(nìr(ñpm(wîi(vr(s(l(hmv(jvs(jîl(
rlhmp(ìi(jvr(hprm(kr(sr(wpr(ns(nr(jhru(nsè(jhpr(nmo(ìi(s(èr(vm(ëi(ws(hs(pi(îi(urn(hrn(sj(ñsL
hr(nsèJ
mOuOmO'ZzJD'Jp'GAK'nô@o
Un(hip(uìl(jr(lêi(ns(gmv(s(lêi(ns(èmv(um(⁄in(ìi(l(ñpm(jhm(ps(ìr(vr(wrn(èi(l(èm(ìmì(lêiL
ns(gr(pr(ksP(oki(ji(èlpj(in(oîi(jèmo(ñm(jîmu(nmo(ìi(s(èr(mkp(ër(urJ(Un(hip(uìls(jl(hpr(ìr(îs(
mh(ñps(îs(èi(êi(hs(ps(vs(nl(hrP(jns(vîìi(ns(jl(¨éhm(ìi(jusv(sj(ñs(hr(ns(gs(vr(ws(îm(nr(ìr(uîìi(nm(s(
hprn(jèps(wm(ur(ns(èr(èm(ws(ji(km(ws(ìi(ns(ñm(kr(gs(mw(pr(ks(îsJUn(hip(uìls(jl(pr(⁄i(ns(hm(èmv(vr(ìr(
HMMIJ(Un(hip(uìls(jl(um(⁄i(ns(r(jiw(nm(kr(ws(ji(jhum(ps(îr(mñl(éhi(ns(ìr(rh(vmj(òi(prP(s(èr(èm(
ws(òm(èlj(ìik(nmo(sn(hip(uìlr(wsm(nr(jhr(um(us(vr(lêi(ns(èr(r(jr(kpl(oi(kpl(oi(jhpr(ni(nr(
jhr(um(us(vr(nr(jhru(ns(èrJ(
Un(hip(uìls(jl(svr(îs(êup(jhl(jhplè(hl(pl(s(sj(ñs(hr(ns(gs(jl(mk(om(ur(pr(îs(nr(kui(opl(ñi(ñsL
hr(nìrJ(^p(ur(opl(ñr(ji(mk(nm(js(îr(nr(rp(hs(èl(îr(gs(ìl(êr(jr(ñpm(wîiv(jèi(nr(jhr(uiP(nr(hmè(s(
nr(rè(hsu(nm(js(èm(ìi(ws(mk(om(ur(pr(îi(pr(îs(ês(hsv(iîi(vin(hs(vr(êr(jrJ(Xpl(or(opl(ñr(ñs(hr(nìr(
ìi(wr(s(pr(nr(nr(hs(ñl(ñpm(wîi(vr(èm(ìs(ws(wsm(nrì(ñps(èîrk(ns(ìs(kr(ji(èm(ps(jhs(l(èmn(hiè(jhl(
lêi(nìr(jhpr(nmo(ìi(s(èrJ(Uj(hpr(ës(urê(ìi(lñm(hpi(wsm(mur(èru(ñps(jhlñ(ìip(ìi(jvr(hprm(kr(ìi(
nrì(ur(ëns(ìi(ñp(um(mk(pi(ks(hs(nrì(wm(îìs(nr(êsn(r(sv(ñîi(vin(hr(gs(ìl(ñpm(wîiv(jèi(nr(jhr(ui(r(
mn(kr(sj(ñs(hr(hs(jhr(um(ui(lêi(ns(èr(m(hs(ñl(ñpm(wîi(vr(èm(ìs(hpi(wr(kr(ji(èm(ps(jhs(l(nr(jhr(us(
jhpr(nmo(ìi(s(èrJ(Sk(sj(ñs(hr(ns(èr(ji(mêi(ès(ur(îm(kr(s(pr(i(jum(ìi(jhr(um(ui(m(ñpm(wîiv(jèmì(
nr(jhr(us(rîs(s(kr(kr(ìl(ni(èi(nm(ui(ski(ìi(èm(ìi(ws(ji(vm(oîi(lñm(hpi(ws(hs(l(wl(klí(nm(jhsJ(UjL
ñs(hr(ns(gs(vr(ìi(ñm(jhr(uîìi(nm(KK(ñs(hr(nìrJ(Uj(hpr(ës(ur(nìi(ìi(jñpm(ui(ki(nm(çMJ(vr(ìr(HMMIJ(
èr(kr(ìi(jñpm(ui(kin(sn(hip(uìl(jr(lêi(ns(gs(vrl(wrn(gs(s(KJ(ìl(nr(HMMIJ(èr(kr(ìi(jñpm(uiL
ki(nm(sj(ñs(hs(ur(nìi(nr(jhru(ns(èrJ(Sjhr(hrè(sn(hip(uìlr(ìi(jñpm(ui(kin(KâJ(ìl(nr(HMMIJ(èr(kr(
ìi(l(ñm(jîi(ñm(kniu(nsv(êr(jm(us(vr(jñpm(ui(ki(nm(sj(ñs(hs(ur(nìi(kur(lêi(ns(èr(èm(ìs(r(ìi(ki(nm(
ñm(ór(⁄r(ìl(êr(jm(uiJ(Wi(ès(ki(îm(us(ui(ps(û(èm(ur(ns(jl(ñm(vm(íl(km(krh(nsó(mñ(jip(ur(gs(ìrJ
HKH
mOúO'3A'|@B'Go'GJ'Jp'GAK'nô@o'
Wr(jr(vmv(ñm(êih(èl(sn(hip(uìlr(sj(ñs(hr(ns(gs(jl(s(pr(s(îs(ñm(s(hsu(ni(jhr(um(ui(ui(r(nm(r(
ñpm(wîiv(jèl(nr(jhr(ulJ(\êi(ns(gr(jvr(hpr(kr(ìi(hm(èm(ps(jhrn(nr(êsn(r(hm(éhm(ìi(nr(um(ks(nr(
pr(vs(éîìr(nìi(s(km(kr(ìi(kr(ñps(îs(èmv(pi(ér(ur(nìr(ñpm(wîi(vr(èm(ps(jhs(pi(ês(èm(ìi(ìi(pr(ns(ìi(

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
nr(l(ês(îrJ(Rîsê(nmP(s(ñpm(òi(jmp(in(oîi(jèmo(ìi(s(èr(jvr(hpr(kr(ñpm(wîiv(jèr(nr(jhr(ur(hpi(wr(
kr(ji(èm(ps(jhl(l(jvs(jîl(ljr(up(ér(ur(nìr(opr(ks(ur(èm(ìi(ìi(nr(l(êi(nm(s(kr(ñpl(ës(lusk(l(hm(
èm(îs(èm(èrn(ks(krh(svr(nr(nìr(s(mk(pi(⁄i(ni(mwîr(jhsJ(
ci(r(nm(r(rè(hsu(nm(jhs(èm(ìs(vr(ws(hpi(wr(îm(èpi(nl(hs(êrj(èm(ìs(jr(kp(ës(r(kr(hrè(pi(ér(urL
nìr(ñpm(wîi(vr(mk(om(um(ps(lêi(ns(gi(s(ñpm(òi(jm(pr(jl(ìr(èm(jîsê(nsJ(Swr(sj(ñs(hr(ns(èr(jvr(hpr(ìl(
kr(êrj(hpi(wr(èpi(nl(hs(jr(ñm(nr(uîìr(nìiv(ñpih(ómk(nm(nr(l(êi(nmo(opr(ks(ur(èm(ìi(ws(ñm(jîlL
ës(îm(èrm(lumk(l(pi(ér(ur(nìi(ñpm(wîi(vr(kmè(ìi(ñpm(òi(jmp(sj(hr(èrm(kr(hm(sñrè(vm(pr(ws(hs(
ui(r(nm(r(ni(éhm(éhm(íi(ws(hs(pr(⁄i(nm(nr(êr(jlJ(^pm(òi(jmp(ìi(sj(hr(èrm(s(kr(hpi(wr(ñpm(nr(ís(
rè(hsu(nm(jhs(èm(ìi(ws(mñl(jhs(îi(⁄r(èi(s(jhum(ps(îi(ñps(ìrh(nl(rh(vmj(òi(plJ((
ürm(nrì(wm(îìs(vi(hmk(kr(ji(ñm(jhr(us(ñpm(wîiv(jès(r(kr(hrè(lêi(ns(gr(ìi(nr(ui(îr(nrL
pru(nm(ñpik(jhr(uîìr(nìi(ñpm(wîi(vr(rîs(s(s(pr(s(îr(ëi(îìl(kr(ji(hmv(ñps(îs(èmv(s(ni(jl(jui(
vm(olí(nm(jhs(r(pi(ér(ur(nìi(ñpm(wîi(vr(kmè(ìi(ñpm(òi(jmp(wsm(ni(éhm(kpl(or(ês(ìio(jhr(urJ(Sn(
jvr(hpr(kr(ws(èrm(nrì(wm(îìs(vi(hmk(r(èpi(s(pr(nìi(ñpm(wîiv(jèi(js(hl(r(gs(ìi(ws(îm(s(uîr(êi(nìi(
ski(ìr(mk(jhl(kin(hr(s(nr(um(⁄i(nìi(s(lñl(ís(ur(nìi(jhl(ki(nr(hr(èr(èm(kr(pi(éi(ñpm(wîivJ(^pm(òiL
jmp(ns(l(ìik(nmv(hpi(nlh(èl(ns(ìi(jvr(hprm(kr(ñps(ñm(jhr(uîìr(nìl(ñpm(wîi(vr(hpi(wr(⁄r(gs(vr(
ñm(nl(ks(hs((jur(vm(ol(ír(pi(éi(nìr(éhm(ji(us(ks(l((nìi(om(umv(mk(om(um(pl(nr(ñs(hr(nìi(üm(ìs(
ws(wsm(nrì(wm(îìs(vi(hmk(kr(ji(ñm(jhr(us(ñpm(wîiv(jès(r(kr(hrè¬
»V@)GF)QA>):F)fGA)9:)=>FG)P9:;l)HA)RC@);H@)û@)PF)HA)H9)=RFP)BGF)fC@r
PF)RFP)BGF)b@)=A)G@)WA)QA):EA)BGF)fC@)PA¥(sjL
ñs(hr(ns(gs(vr(ìi(ws(îm(nrì(hi(ëiJ(Uñrè(lêi(ns(gr(ws(ëi(îi(îr(kr(ji(èm(ps(jhi(rè(hsu(nm(jhs(èm(ìi(ws(
ìmì(ñm(vm(oîi(kr(jr(oîi(kr(jui(iîi(vin(hi(ñpm(wîi(vr(nr(nrì(wm(îìs(vm(ol(ís(nr(êsnJ(^pmL
òi(jmp(ìi(jvr(hprm(kr(ws(rè(hsu(nm(jhs(èm(ìi(ws(ji(pr(ks(îi(l(mumv(ki(îl(êr(jr(hpi(wr(îm(kr(
ñm(vmo(nl(jhl(kin(hs(vr(kr(ñm(ui(ël(iîi(vin(hi(ñm(jhr(uîìi(nmo(ñpm(wîi(vr(rîs(mumv(ki(îl(
êr(jr(nr(pru(nm(ñps(ñs(jl(ìi(s(rnr(îs(l(kr(hsó(iîi(vi(nr(hrJ(Uj(ñs(hr(nsè(wpmì(ìi(krn(ñpik(îm(ësm(
ìi(s(ui(ëwrn(èiP(prk(ni(jui(jèi(s(jvr(hpr(kr(ws(km(wrp(nr(êsn(wsm(kr(hs(lêi(ns(gs(vr(kr(pi(éi(
ñps(wîs(ërn(ñpm(wîivP(r(jhru(sj(ñs(hr(ns(èr(wpmì(kur(ìi(sjhs(s(l(mwr(sn(hip(uìlr(ìi(s(ìr(usm(kr(
ws(r(lhup(⁄s(ur(nìi(jhi(êi(nmo(nr(nìr(nrì(wm(îìi(ws(îm(ró(hi(ur(hs(mk(lêi(ns(èr(kr(pi(éi(jîs(êrn(
ñpm(wîivJ(Vpi(ís(sj(ñs(hr(nsè(ìi(l(mwr(sn(hip(uìlr(nr(uim(ñm(nr(uîìr(nìi(js(hl(r(gs(ìr(l(jîsê(nsv(
mèmî(nm(jhs(vr(ìip(ìi(ñm(nìi(vl(ñm(nr(uîìr(nìi(nrì(r(ki(èurh(ns(ìs(nr(êsn(r(jhs(gr(nìi(nr(nìrJ
\(kr(îìiv(hm(èl(sn(hip(uìlr(lêi(ns(gr(ìi(ñm(pik(ñm(nr(uîìr(nìr(nr(l(êi(nmo(s(pr(s(îr(s(ëi(îìl(
kr(ji(jl(jpih(ni(jr(nm(usv(s(kpl(or(ês(ìsv(ñpm(wîi(vmv(s(kr(us(ks(èrm(ws(ji(jnr(éîrJ(^pm(òiL
jmp(ìi(nr(uim(kr(ur(nìi(jîsê(nsó(ìi(ks(ns(gr(s(ns(ìi(lmñ(éhi(jvr(hprm(kr(svr(vi(jhr(r(nm(ui(
up(jhi(ñpm(wîi(vrJ(
ürm(km(vr(ís(r(kr(hrè(nr(ui(îs(jl(lhup(⁄s(ur(nìi(nr(l(êi(nmoP(ñpm(és(ps(ur(nìi(mnm(or(éhm(
ìi(nr(l(êi(nm(r(lêi(ns(gr(ìi(s(pr(s(îr(jhru(kr(km(vr(ís(r(kr(hrè(hpi(wr(kr(ró(hi(ur(mk(⁄r(èr(
kr(jr(vm(jhrî(nm(ñpm(és(pi(nr(nìi(s(kr(hi(mwîr(jhsJ(^m(pik(lhup(⁄s(ur(nìr(pi(ês(èm(ìi(jl(pr(⁄iL
niP(lêi(ns(gr(ñpik(îr(ëi(km(vr(ís(r(kr(hrè(èrm(éhm(ìi(nr(ñps(vip(s(nr(îr(ëi(nìi(js(nm(ns(vr(
HKç

HK§
`QA:A)oAG>9:FQ9û
r(nm(ui(pi(êsJ(Vr(èm(⁄iP(lêi(ns(gs(jvr(hpr(ìl(kr(r(km(vr(íi(r(krh(èi(hpi(wr(kr(hs(jîm(ëi(ns(ìs(
ñpm(wîiv(èm(ìs(ró(hi(ur(km(krh(nm(rn(or(ëm(ur(nìi(mk(jhpr(ni(jhl(ki(nr(hr(kr(èm(ps(jhi(Unhip(nih(
s(km(krh(nl(îs(hi(pr(hl(plJ(Uj(ñs(hr(nsè(wpmì(ìi(krn(ìi(ñpik(îm(ësm(rìi(knsê(ès(prk(ñm(ñlh(ks(jèlL
js(ìi(l(ñr(plP(èrm(s(prk(l(opl(ñs(kmè(ìi(hpi(ís(sj(ñs(hr(nsè(ñpik(îm(ësm(jr(vm(jhr(îrn(prk(èpm(
ñs(jr(nìiP(ês(hr(nìiP(jîl(ér(nìiP(nr(ñps(vipP(kr(lêi(ns(gs(jr(vs(èm(ps(jhi(pr(îs(ês(hi(TkLmuiJ
R(mw(s(pmv(nr(hsñ(ñpm(wîi(vr(èm(ìs(ws(hpi(wrm(kr(ji(èm(ps(jhs(sj(ñs(hr(ns(gs(jl(s(pr(s(îs(jhrL
um(ui(kr(ñpm(wîiv(vm(pr(kr(mk(nìsó(ró(hi(ur(kr(sj(èm(ps(jhi(nr(nìi(èm(ìi(svr(ìlJ
»[9B)BGF)fC@)PA)RF)E9)E@)BFH)G@)†@:)HA)>FP)BCA):AG):9J)iF:)HF)QAl)b@:)>GAC):9J)fA):A)RA)9)>F)P@)=C9X):F)>A)RF):@)W>F)W>F)E@)kA)9r
=>A)Q@)kA):F)kA):E9)JFQG@G)P9):F)CF);9)E@)9);GA)PA)>9)R@s¥(¨Uj(ñs(hr(nsè(å
Wr(ñs(hr(nìi(öhr(ws(km(wrp(ñpm(wîiv(hpi(wrm(kr(jr(kp(ës¥(lêi(ns(gr(ìi(mk(om(um(ps(îr(kr(
ws(um(îi(îr(kr(hm(wl(ki(jñmì(jhr(pmo(nr(nìr(s(ni(èsó(nm(usó(iîi(vinr(hr(kmè(ìi(nr(jhru(nsè(
nr(uim(iîi(vin(hi(èrm(éhm(jl(lpmè(ñpm(wîi(vrP(ñps(pm(kr(ñpm(wîi(vr(s(vm(olí(nm(jhs(r(
pi(éi(nìi(ñpm(wîi(vrJ
Uj(ñs(hr(ns(gs(jl(kr(îìi(nr(ui(îs(kr(ws(r(nìsó(sn(hi(pi(jrn(hrn(ñpm(wîiv(wsm(ñpm(wîiv(èmL
ìs(ìi(s(jhpl(èi(s(èm(ìs(ñpik(jhr(uîìr(pi(rî(ni(ës(umh(ni(js(hl(r(gs(ìiJ(^m(jiw(nm(rèm(ìi(gsîì(êr(jr(
èm(vl(ns(èr(gs(ìr(ñps(vip(ws(hpi(wrîm(kr(km(îr(s(s(jhpl(èi(ìip((nr(hrì(nr(êsn(ñmk(jhs(êi(⁄r(èi(
kr(èmv(ws(nl(ìl(nr(nìi(ìi(s(èr(s(nr(nìi(ñpm(òi(js(ìr(s(èm(ìsó(km(îr(iJ(Vm(ji(nrì(wm(îìi(us(ks(
l(jîi(ki(íiv(nr(um(kl(
»)BA)FB@>)BF):A)QCEAP)HF)fAG)BGF)fC@P)f9)f9F)BGF)fC@P)RF)E9)E@)9k)PF)E@)=>GQA);H@)f9)EA)PF);CA)HA)9=)RF)G9)=>9P)k:A)X9)=Q@)PF);F)W>F)=AP):A)AE)=BFE))=Q@);Asssú)¨Uj(ñs(hr(nsè(K
Wr(ñs(hr(nìi(kr(rèm(ìi(gsîì(êr(jr(ljr(up(ér(ur(nìi(èm(vl(ns(èr(gs(ìi(éhr(ws(wsm(km(wrp(ñpmL
wîiv(sj(ñs(hr(ns(gs(jl(s(ni(îs(km(jhr(ski(ìrJ(Uj(ñs(hr(nsè(wpmì(ìi(krn(sj(hs(êi(kr(ñpm(wîiv(hpi(wr(
kr(ñpl(ës(éhm(ui(ís(mwsvP(kr(hi(vr(wl(ki(vr(îm(èmv(ñîs(èm(ur(ns(ìr(kr(ws(svr(îs(m(êi(vl(kr(
ks(jèl(hl(ìlJ(Uj(ñs(hr(nsè(wpmì(kur(ìi(nr(ñpr(usm(èm(vin(hrp(kr(ìi(km(wpr(ski(ìr(kr(nr(jhru(nsè(
nr(ni(ès(nr(êsnP(sj(èps(hs(èl(ìiP(sj(ñpm(um(gs(pr(⁄r(èi(kr(ws(ji(mns(mji(ír(îs(wsh(nsv(kr(wpr(ni(
jumì(jhruJ(Uj(ñs(hr(nsè(wpmì(kur(sj(hs(êi
JJ=PA)>GAP)HA)f9)>F)FB@>)RA)@Pl)>AE)G@)fAF)HA):A)BGA)Q9l)HA)9J)QA)G9)
kA)9:)>@)G@)=9)RG@)fA):@)W>F)HA)G@)W@l)RF:)RG@>)A:)BG9)P@Glssssl)ARF)9PA)fA:r
RA)GA)PF)HA)BGF)fC@P)kA)W>F)fA:)RA)G9)RFE9)9PA)EQA)kA)W>F)

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
\êi(ns(gr(ìi(s(pr(s(îr(jhru(kr(ws(rèm(ìi(gsîì(êr(jr(ljur(ìr(nìi(nm(ui(hip(vsn(îm(os(ìi(ws(îm(
sn(hi(pi(jrnh(nm(kr(ñpm(wîiv(jr(kës(mw(ìr(énìi(nr(hsó(hip(vs(nr(kmè(ìi(ñpm(òi(jmp(sj(hr(èrm(kr(
rèm(ìi(gsîì(êr(jr(ljur(ìr(nìi(hip(vs(nm(îm(os(ìi(hpi(wr(mwpr(hs(hs(ñr(ënìl(kr(ñpm(wîiv(jr(kp(ës(
ìr(èm(ñl(nm(hsó(hip(vs(ns(vr(s(ñpik(îm(ësm(ki(îm(ui(s(ui(éhr(ìr(s(jîsê(nmJ(
mOO'.J'D}@'DJ'ôo'KA'|@B'Go'Go
`i(lî(hr(hs(mumo(sn(hip(uìlr(ñm(èr(r(îs(jl(kr(s(jhl(kinhs(s(nr(jhru(nsè(svr(ìl(ñm(s(hs(urn(
jhru(ñpi(vr(lêi(nìl(èpm(pi(ér(ur(nìi(ñpm(wîi(vr(s(kr(l(hmv(jvs(jîl(ñpm(wîiv(jèr(nr(jhr(ur(
r(s(jhr(ñpik(jhr(uîìr(ìr(èm(km(wrp(nr(êsn(r(ljr(up(ér(ur(nìi(ìi(sê(èsó(ui(éhs(nrJ(
ôm(ëi(vm(r(èîìl(ês(hs(kr(lêi(ns(gs(s(nr(jhru(nsè(svr(ìl(jîsê(nl(ski(ìl(èr(èm(ws(êrj(ñpmL
wîiv(jèi(nr(jhr(ui(hpi(wrm(kr(èpi(niJ(Rvr(hpr(ìl(kr(ñpi(ñm(êih(èr(pi(ér(ur(nìr(ñpm(wîi(vr(
hpi(wr(ñm(nm(us(hs(ñpih(ómk(nm(nr(l(êi(nm(opr(ks(umP(ñm(jiw(nm(mwîrjh(èm(ìr(nrv(ìi(ñm(hpiwL
nr(r(pi(ér(ur(nìi(ñpm(wîi(vrJ(Wr(jhru(nsè(ìi(svrm(s(juijh(m(hm(vi(kr(hpi(wr(kr(hpi(wr(
kr(jhum(ps(ñps(ìrh(nl(rh(vmj(òi(pl(ñpi(ñm(êih(èr(pi(ér(ur(nìr(ñpm(wîi(vrJ(Sk(om(um(ps(km(ws(ìi(ns(
sn(hip(uìl(mv(lèr(l(ìl(kr(ìi(r(ñm(jhr(uîìr(nìi(ñpm(wîiv(jèi(js(hl(r(gs(ìi(nim(ñ(óm(krn(vr(îs(
lumk(mk(jhpr(ni(nr(jhru(ns(èr(ui(r(nm(r(ñpih(ómk(nm(mw(pr(⁄i(ni(ìi(ks(ns(giJ(Swr(sj(ñs(hr(ns(èr(
jl(l(jèîr(kl(jr(ñm(jhr(uîìi(nmv(ós(ñm(hi(mv(èrm(nrì(wm(îìl(vi(hm(kl(r(jhur(pr(nìi(ñpmL
wîiv(jèi(js(hl(r(gs(ìi(nr(ui(îs(ñpik(jhr(uîìr(ni(ñpm(wîi(vr(s(lñm(nr(ur(nìi(jr(ñpm(wîi(vmv(j(
hsv(kr(ìi(jhl(kinh(ès(nìr(s(pr(s(îr(ëi(îìl(kr(ji(ñps(jr(vmv(s(nm(éi(nìl(ñpm(wîi(vrP(nr(ui(kl(
s(vm(olí(nm(jhs(r(pi(ér(ur(nìiJ(Ws(ìi(krn(mk(sj(ñs(hr(ns(èr(ns(ìi(ñm(vi(nlm(kr(ws(nr(um(⁄i(nìi(
òm(èl(jr(êr(jr(hpi(wr(îm(kr(ji(km(om(ks(nr(ñm(êih(èl(êr(jr(s(ñps(ñpi(in(hm(ur(nìl(ñpm(wîiv(jèi(
js(hl(r(gs(ìiJ(
Uj(ñs(hr(ns(gs(nr(um(ki(èrm(nrì(wm(îìi(rè(hsu(nm(jhs(l(hm(èl(ñpm(gi(jr(pi(ér(ur(nìr(ñpm(wîi(vr(
rè(hsu(nm(jhs(ui(r(ni(jr(ñm(ui(s(ur(nìi(s(rnr(îs(l(iîi(vi(nr(hr(s(ni(hmo(ñpm(wîi(vrJ
Urèm(jl(mêi(ès(ur(nìr(ws(îr(kr(ñps(îs(èmv(lhup(⁄s(ur(nìr(ui(éhs(nr(jhi(êi(nsó(èpm(pi(ér(urL
nìi(ñpm(wîi(vr(hpi(wr(èm(ps(jhs(sjhi(sîs(jîsê(ni(ñpm(wîi(viP(lêi(ns(gr(ìi(s(pr(s(îr(ëi(îìl(kr(èrm(
km(krh(nl(rè(hsu(nmjh(r(ui(ëwl(km(ws(ìi(nm(ul(up(jhl(ñpm(wîi(vrJ(
Vr(èm(⁄iP(lñm(pi(⁄s(ur(nìiv(mk(om(um(pr(vm(ëi(ji(us(ki(hs(kr(sj(ñs(hr(ns(gs(jvr(hpr(ìl(kr(r(
km(vr(ís(r(kr(hrè(lêi(ns(gs(hpi(wr(kr(ji(jr(vm(jhrî(nm(ñm(hpl(ki(kr(ñpm(és(pi(nr(nìr(s(mwîrL
jhs(èm(ìi(jl(pr(⁄i(ni(nr(êr(jl(ñpm(wîiv(jèi(nr(jhr(ui(éhm(lèr(l(ìi(nr(nìs(óm(ul(juijh(èm(îs(èm(
sj(hpr(ës(ur(nìi(l(ni(èmì(mwîr(jhs(ñm(vr(ëi(kr(ji(wm(îìi(jr(uîr(kr(ìl(mjnm(ui(sjhmoJ(
üm(vin(hr(ps(él(ís(hsñ(ñpm(wîi(vrP(mwr(sj(ñs(hr(ns(èr(svr(ìl(jîsê(ni(jhr(um(ui(m(hs(ñl(ñpmL
wîi(vr(èm(ìs(hpi(wr(kr(ji(èm(ps(jhs(l(nr(jhr(us(jhpr(nmo(ìi(s(èr(s(ìr(jnm(sj(hs(êl(kr(ñpm(wîiv(
vm(pr(kr(ñpm(sj(hs(êi(s(jhurp(nmo(ës(um(hr(s(nr(oîr(ér(ur(ìl(nìi(om(ul(ui(l(jr(ñpm(òi(js(ìmv(
jhl(ki(nr(hrJ(üm(vin(hr(ps(lêi(ns(gi(kr(ws(ñps(ljur(ìr(nìl(hip(vs(nm(îm(os(ìi(ñpm(wîiv(hpi(wrm(kr(
jr(kp(ës(s(mw(ìr(énìi(nìr(hsó(hip(vs(nr(ñm(hup(⁄l(ìi(ê(s(nìi(ns(gl(kr(lêi(ns(gs(nm(ui(pi(ês(nrì(îrè(éi(
ljur(ìr(ìl(èr(kr(só(km(ws(ìl(l(èmn(hiè(jhlP(hr(èm(kr(ski(ìr(nr(jhru(ns(èr(kr(ws(l(hmv(gs(îìl(ws(îm(
HKå

`QA:A)oAG>9:FQ9û
ñm(ëiîì(nm(èm(ps(jhs(hs(s(ui(éhr(ìi(èmv(ñr(ns(ìi(lèr(l(ìi(nr((wi(ni(û(gìi(èm(ìi(îi(ëi(l(èm(ps(éíi(nìl(
èmv(ñr(nsì(jèi(km(èl(vin(hr(gs(ìiJ
uO'§*'{,û4'¢*{'1'.*',û1'a3*['Y1'1/')3*'ó1'[*'Xû*
`i(lî(hr(hs(sj(hpr(ës(ur(nìr(l(ñmh(ñl(nm(jhs(jl(ñm(hup(ks(îs(mñ(éhl(ós(ñm(hi(lJ(Vr(èm(⁄iP(mns(
lñl(íl(ìl(nr(ìmé(ni(èi(r(ns(vîìs(ui(s(pi(îi(urnh(ni(r(èîìlê(èiJ(
U(lêi(ns(gr(s(nr(jhru(nsè(jîsê(nm(jl(mk(om(um(ps(îs(nr(ñs(hr(nìr(m(rè(hsu(nm(jhs(vr(èm(ìi(hpi(wr(
kr(ñps(ñr(kr(ìl(mk(pi(⁄i(nsv(ki(îm(us(vr(êr(jrJ(UñrèP(lêi(ns(gr(ìi(mk(om(um(ps(îr(kr(ws(ñps(ñmL
jhr(uîìr(nìl(ñpm(wîiv(jèi(js(hl(r(gs(ìi(hpi(wrîm(s(ni(hs(s(jur(vm(ol(ír(pi(éi(nìr(kr(hmo(ñpm(wîiL
vrP(r(nr(jhru(nsè(ns(ìi(ñm(vs(nìrm(hrì(rjñièhJ(\(ni(èsv(wl(kl(ísv(sj(hpr(ës(ur(nìs(vr(vm(oîm(
ws(ji(sj(hpr(ës(hs(èm(îs(èm(kr(ur(nìi(pi(éi(nìr(lhs(êi(nr(sj(óm(ki(ñpm(wîiv(jèi(js(hl(r(gs(ìiJ(
Vpi(wr(ñm(vi(nl(hs(kr(sj(ñs(hr(ns(gs(ns(jl(nso(ki(jñm(vi(nl(îs(nr(um(⁄i(nìi(gs(îìr(êr(jr(èrm(
nim(ñ(ómk(nmJ(\(hmv(jvs(jîsl(kr(îìr(sj(hpr(ës(ur(nìr(ws(vm(oîr(sj(ñs(hr(hs(s(iur(îl(s(pr(hs(ljñió(
ñpm(wîiv(jèi(nr(jhr(ui(lèm(îs(èm(ji(⁄r(gs(vr(nr(oîr(js(éhr(ji(mk(nìsó(mêi(èl(ìi(l(mk(nm(jl(
nr(êrj(èr(kr(ji(mk(lêi(ns(èr(ró(hi(ur(kr(pi(ér(ur(ìl(ñpm(wîiv(wi(jr(nr(nìr(èm(ìi(ui(éhs(ni(
hpi(wr(kr(lñm(hpi(wiJ(
ür(kr(ìi(piê(m(km(vr(ísv(r(kr(gs(vrP(ñm(hup(ks(îm(ji(kr(mns(hpi(wr(kr(ljvi(pi(⁄r(èi(nr(
km(krh(nm(sj(hpr(ës(ur(nìi(s(kr(hi(mwîr(jhsJ(Wr(jhru(nsè(ìi(jñm(vi(nlm(s(kr(ws(vm(ëkr(km(vr(ís(
r(krè(vm(orm(kr(wl(ki(iur(îl(r(hsu(nmo(èr(prè(hi(pr(ñr(ws(l(ni(èsv(kr(îìsv(sj(hpr(ës(ur(nìs(vr(
hpi(wr(îm(sj(hpr(ës(hs(jhr(um(ui(lêi(ns(èr(m(hm(vi(èm(îs(èm(ws(r(nìsó(ws(îm(jhs(vl(îs(él(íi(kr(ji(
km(vr(ís(r(kr(gs(mgi(nìl(ìl(s(nr(èm(ìs(nr(êsnJ(
Snm(éhm(ìi(ur(ënm(sj(hr(ís(ìi(kr(mwr(sj(ñs(hr(ns(èr(us(ki(ñpm(wîiv(jèl(nr(jhr(ul(èrm(èmL
ps(jnm(jpik(jhum(l(nr(jhr(us(jhpr(nmo(ìi(s(èr(s(kr(s(lêi(ns(gr(s(jhl(kinh(nr(oîr(ér(ur(ìl(nim(ñL
ómk(nmjh(kr(r(kr(hrèP(wi(mw(s(pr(èm(ìs(ìi(gsîì(êr(jr(wl(ki(ui(rn(r(nìs(óm(ul(ñpm(òi(js(ìlJ(
\(hmv(jvs(jîlP(l(kr(îìsv(sj(hpr(ës(ur(nìs(vr(ws(hpi(wr(îm(ñm(jui(hs(hs(ñr(ënìl(ñpm(nr(îr(ëi(nìl(s(
mjvs(éîìr(ur(nìl(ñpm(wîi(vr(èm(ìs(jl(jñi(gs(ûê(ns(r(pr(îs(ês(hi(mwîr(jhs(s(èm(ìsó(lêi(ns(gs(kmL
îr(i(s(ñm(hpl(ks(hs(ji(kr(l(ñmh(ñl(nm(jhs(ñpik(jhr(uîìr(ìl(js(hl(r(gs(ìi(jr(èm(ìs(vr(ñm(îr(ns(gs(èlp(jr(
in(oîi(jèmo(ìi(s(èr(vm(ol(kr(ji(jl(jpih(nlJ(
,1)-3*)43*'
QprvwlîrL[piinûiîkP(VJ(¨KIIãJ(Uvñîivinhsno(ñpmwîivLwrjik(îirpnsno(sn(r(gmîîioi(jgsL
ingi(gîrjjJ(äFF)o@H9bAC)
]H9F:s)Wi(†mpè{(RñpsnoipJ
HKã

^`SaZYôRüQ(WQRVQcQ{(Uô^ZYôYWVQTUeQ(\(WQRVQcU(RV`QWS[(eYõUüQ
TrvñP([J(¨KIIãJ(^pmwîiv(wrjik(îirpnsno{(r(ñrprksov(jósòh(mp(r(ñrjjsno(òrk¬(o@H9bAC)
@H9F:)F:C9:@l)K¨HP(KLãJ
XlgóP(aJ(eJ(¨KIIåJ(©órh(sj(ñpmwîivLwrjik(îirpnsno¬(TfF)[@AbJ9:;Ç)T):@g=C@>>@G)Fi)>J@)
c@:>@G)iFG)[@AbJ9:;)]ii@b>9Q@:@==l)§â¨§J
YuinjinP(XJ(dJP(…(dviîmP(TJ(YJ(¨HMMMJ(OGFfC@PrfA=@H)C@AG:9:;Ç)T)G@=@AGbJ)B@G=B@b>9Q@)
F:)C@AG:9:;)9:>@GAb>9F:=J(dsîîjkrîiP(W†{(YpîwrlvJ
[piinsnoP(VJ(¨KIIäJ(Rgròòmîksno(òmp(jlggijj(sn(ñpmwîivLwrjik(îirpnsnoJ(o@H9bAC)]H9F:)Z:C9:@l)稧P(KLKåJ
drpñipLôrpsnsgèP(ôJ(¨HMMKJ(]:;A;9:;)=>=)9:)BGFfC@PrfA=@H)C@AG:9:;J(ôrpsgmñr(
Tinhpi( òmp( Zirpnsno( rnk( ( UnjhplghsmnJ( óhhñ{££JvgîsJksjhJvrpsgmñrJikl£òmplv£
jñpMK£hKKJóhvîpihpsiuik(H磧(HMMI(
ürvsnP(TJP(XihipksnoP(`JP(©sîjmnP(aJP(QpvrgmjhP(ôJP(…(apiikmnP(ôJ(QJ(¨KIIIJ(Vói(kiL
uiîmñvinh(mò(r(gmîîrwmprhsui(ksjhrngi(îirpnsno(ñpmoprv(hm(òrgsîshrhi(ñiksrhpsg(ñpmwL
îivLwrjik(îirpnsnoJ(o@H9bAC)]H9F:)Z:C9:@l)§¨HP(KLKHJ
ZsngmînP(RJ†JP([lwrP([J(YJP(¨KIäåJ(ÄA>9b)9:?J@)[J@FGeJ(ômjL
gmP(`ljjsr{(^ikromosgrJ
ôrìmp(TJ(dJP(^rîvipP(aJ(¨HMMKJ(Qjjijjsno(hói(iòòighsuinijj(mò(ñpmwîivLwrjik(îirpnsno(sn(
ósoóip(iklgrhsmn{(Zijjmnj(òpmv(hói(îshiprhlpiP(TbAH@P9b)‚@GCel)å¨KP(§LIJ
ôrìmpP(TJ(dJ(¨KIIäJ(Tmnnighsno(órh(i(ènm(rnk(órh(i(km(hópmloó(^pmwîivLarjik(
ZirpnsnoJ(TTt])U9:P(åK¨âP(âLIJ
^rhhmnP( ôJ]J( ¨HMMHJ( ‚A>9Q@) h@=@AGbJ) À) ]QAC9F:) o@>JFH=( ¨ç pk ( ikJJ(Vómljrnk(
SrèjP(TQ{(Rroi(^lwîsgrhsmnjP(UngJ(
^ikipjinP(RJ(¨HMMçJ(ômhsurhsmnrî(mpsinhrhsmn(sn(r(ñpmwîivLwrjik(îirpnsno(inuspmnvinhJ(
äF@GAb>9Q@)8@AG:9:;)h@=@AGbJl)K§¨KP(åKLââJ
`rushP(eJP(¨HMMIJ(Rlvvrpsjsno(ûnksnoj(rnk(îmmèsno(róirk(hm(r(ni(oiniprhsmn(mò(^aZ(
pijirpgóJ(`:>@GH9=b9BC9:AGe)äFG9F:AC)PFH@CA:H)9>=)
bF:=>G9Q9=>)iGAP@gFGRJ(Ynoîimmk(TîsòòjP(W†{(Yklgrhsmnrî(higónmîmosij
RrusnLarkinP(ôJP(…(ôrìmpP(TJ(dJP(¨HMM§J(vF9F:=)Fi)BGFfC@PrfA=@H)C@AG:9:;J(Wi(
†mpèP(W†{(Sñin(\nsuipjshï(^pijjJ
RgólhhP(`ljjiîî(üJ(¨HMMIJ(`:Q@=>9;A>9:;)>J@)aFb9AC)_FGCH(¨ã hó (ikJJ(Vómljrnkj(SrèjP(TQ{(
^sni(bmpoi(^pijj
csîmhsìiusíP(ôJ(¨KIIIJ((^9HAR>9RAP(aimoprk{(Wrlênr(ènìsorP(\êshiîìjès(òrèlîhih
©isvipP(ôJ(¨HMMHJ(8@AG:@Grb@:>@G@H)>@AbJ9:;Ç)v9Q@)R@e)bJA:;@=)>F)BGAb>9b@J(Rrn(bprnL
gsjgmP(TQ{(emjjiïLarjjJ(
©mmkjP(XJ(`J(KIIãJ(OGFfC@PrfA=@H)C@AG:9:;Ç)tFg)>F);A9:)>J@)PF=>)iGFP)OU8s)Trnrkr{(
©rhipkmn
HKâ

`QA:A)oAG>9:FQ9û
;>7H7#6789;HD>;?
^`SaZYô(aQRYX(ZYQ`WUW[{(Uô^ZYôYWVQVUSW((
UW(VdY(ZQW[\Q[Y(VYQTdUW[
a

4&($%&#43,W&(*-0T
"R"VTW"']$\Æ"P"'e'e!c\RTc'h$\W\RS"fT&"c"'
e\RTP"'!$\#gT'ÆPQV"'
#((y(OC((@=@(z>(C(E(@(E(?;E(=@(}@(Ö@(@(Ñ(OC(Ç;(A;L
z;(E>(Ö@J(Ü>Å((@(E(NF(y;(FÇ@(BÅ@(àC(;A(E;(B@(Ñ(FÇ@(Ç>(FÇ>}(?>Ñ(
(Ö@(>(OC(N(y;(ÖC(A>(=>Ñ(?z@(F>(É>(?;(B@(=>Ñ(Ç>(y;(B@(E(>(B;((=>(F@(à@(y(Ö@(@(F(ÖNJ(,F(Ç(B@(àC(ÖC(;:(N(ÑB@(Ç>(z;(Ç(E(?@(E>O(=@(>(ÖC(?;(Ö>(N}C(C=L
EzC(F?>(?@;(y(FÇ(ÖC(>?(¨ZH(?;((FÇC(D>((}>(ÇC(>=(yN(ÇCP(O@(ÇC((Ö@(zC(@(NFOCL
=N(y(ÖNJ()@(?ÅN(}C(=;(ÖC(A@(FN(E(~>(y(z>(N(O@(à;Ö(OC((
N=N(Ç@}(?C(¨>=(Ç=(EB@z(=CP(@(N(=@(}@Ö(=>(Ö;Ö(OC((OC(N(ÖC(>}(?C(¨>=(ÇC=(EB@zL
=CP;A(=;(F=;( E( NÇ>(~@(Ö@( O@(ÇC( A(FC(;FÇB@(;(y(O@z(=;E(>(?B@(z>(ÇCÇ(=;E(NFB@(Ö@(à@(ÖC(>(?@P((ÖC(=C(FN(O=;(E;(:(y(FÇN(y>(?;(Ö>(FN(>O@(z>(@(A@(Ç@?(A@(;z@?(|@(ÖN(
y

HHM
ó('0"()ó.%ª('5,#
>(O@(z@(y(?@(~>(ÖN(E(Ö@{
( Ez;(:@z(=C(E(Ö>
( z;(?@z(=C(E(Ö>J
.*(FC(O;(GC((CÉ>(?@(F=;(y(OC(=>(Ç>(ÖC(A>(=;(?@(A@(;F;(:@(?;(Ö@(N}>(ÖC(>?(;:CL
:C(N(ÖC(;A(E;(B@((z@(C(¨E;(B;z>(ÇC?(FÇN(@z(=CP(A;?(FC(=C(O;(GC(yL
OC(=>(Ç>(=@(Nz@(C(¨}>(Ç@(àC(>(FzN(|@(àCJ(3CO(Ç;(E@P(YQ(FC(=C(O;(GC(y(OC(=>(Ç>(
=@(Ny(?@(~>Ö(F?>O(FÇ(Ö@(O@P(y;(|Ç;(ÖC(F@(FB>O(Ö@(F=;(A@(DC(
;F;(:@(?;(Ö@(N}>(ÖC(>?(=C(FBC(F=;(>(:C(E@(B@(Ç>(?;(ON(=>(?@(~>Ö(F?C(FÇ(ÖC(F@(?;L

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
Ö>(O@(FC(=C(;FC(D@(A;(B;Å(=;(F>(EN(@(
>F(Ç(B@(àC(FyC(~>(É>}(=>Ñ(y>(Ç@(à@(;(NFB@(Ö@(àN(A(?@P(A;?(ÖC(y>(Ç@L
àC(É;(((=@(
y(=>(@NÇ;((FN(y;(}C(z>(A@(y;(OC(((?@(?;(Ö>(ÖC(y;(FÇ@;(y;(=@Ç(?@;($%)34)6%)2#/(¨sn(hip(îrn(ol(r(oi(
?;(Ö>(FC(O;(GC(y;(FO@(Ç(y(F~>(yz>(=@J(%B;(=(?C(ÖC(@?(Ç>B(=>(N}C(F=>?(N(yO(FN(FzC(A>L
zC(FÇN(A>(ÖC((=@(}>(=@(=@(?;(Ö>(AC(~@(
>(;A((N}C(ÖC(>?J
#(FB@(?;O(FzN(}@(ÖNP(y(NFB@(Ö@(àN(A(?@P(y;(Ç(y@L
GàN(=@(O@(ÇC(ÖC(>?(?;(Ö>O(E;(B;((;F;(:@(?;(Ö@(N}>(FÇ(ÖC(>?J(+;(Ç(Ç>( >=(ÇC=(EB@z(=N( yC(BN( >( y( O@(ÇC( ÖC(>?( ?@;(
z>=(EB>(FÇ>}(?>(F>(FÇCO(>z>(y(=@(?;(Ö>(=@(}>=(FC(O@(ÇC(ÖC(>?(O;(GC(
Ny;((Ç>(F@(~>Å(=>O(ÖC(>(?;OJ('F=;B(=@(FBÑ(;B>Ñ(@?(~>(Ö@(ÖC(É;L
(O@z(=;E(>(=@Ö(?B@(z>(ÇCÇ(=>(ÖCE(y(FÇN(y@(@(NFyC(|=;(NFB@(Ö@(àC(A(?@J((Ü>Å(;B;E((A@(z>(y;(FÇ;(Ö>(?;((Ö@(¨?@;(FÇ@(Ç>L
FÇ>}(?@(?@(ÇC(E;((Ö@(>(OC(N(N}C(FÇ@(z;(FÇ>(y;(Ö@(BÅ>(B@(à@(>(Ç>(y;(B@(y;(ÖC(A>(=>Ñ(B(O@((}>(Ç;E(=>(B;@(=@(à@J
mO'c\'SQ#'T'h$T'!Seh
4@;(|Ç;(ÖC(BCD(>F(Ç@?(=N(Ç;(=@(y;(}CÇ(?N((@(E(N(CÇ(=;(
:>Ç(=@(@(Ñ(OC(Ç;(A;(z;(E>(Ö@J(Ü>Å((@(
E(NF(y;(FÇ@(BÅ@(àC(;A(E;(B@(Ñ(FÇ@(Ç>(FÇ>}(?>Ñ((Ö@(>(OC(N(y;L
ÖC(A>(=>Ñ(?z@(F>(É>(?;(B@(=>Ñ(Ç>(y;(B@(E(>(B;(L
=>(F@(à@(y(FC(;B@Ö(~>Å(;FÇB@(;(y;(Ç(@=@(z>(N(E(Ç>(y;(A@Ç(?C(8(y(NFOC(=;Ö(y(Ö>
HHK

ó('0"()ó.%ª('5,#
m( >AC=(Ç>(É>(?;(B@(Ç>(E(E(?;O
m( ?z@(F>(É>(?;(B@(Ç>(E(B(Ç>(?z@(F>(É>(?@(~>(ÖN(E(FÇC(O>(O@(@(?z@(F>(É>(?@(~>(ÖN
m( ?B@=(Ç>(É>(?;(B@(Ç>( E( :(B@(à@( FB@L
?C(E(?;((FÇC(D>(FÇ@(Ç>(FÇ>}(?>(@y@((A@(FC(
?B@=(Ç>(É>(?N(ÖC(=@(}@Ö(=;FÇ(y;(Ö@(BÅ>(B@(à@(;A((F@(Ç>( >(B;( =@(FN(y
( A;(=C(Ç>(;A(E;(B@((y(Ç>(O;(EN(DC(=@(}>(=C(@(N=@L
y(>((ÖCJ
0@(C?F(yC((OC=(Ç@z(=;O(N;(ÅN(BC(L
É>(?@(~>(Ö@(>(A;(?@(>(B@(à@(y;(FÇ@(BÅC(=>Ñ(~>(ÅC(B@('j>'è9(z>(N}C(=>(~>(§J(E;(A>(=C(FyC(~>(Ö@(z>(;(B@(=;E(
É>(z;(z;(|?;E(¨37(;AC(ÅC(à@J('B>(N}C(=>(~>(N}C(y;(yO(=@(>(ÖCJ(
( 2(z>(N}C(=>(~>(;y(|ÇCE(FOC((O@(ÖC(A(FÇ(ÖC(>?(ÉJ('B>(N}C(=>(~>(N}C(y;(;y(|ÇCO(y(ÖCJ
( 2(N}C(=>(~>(N}C(y;(;y(|ÇCO(y(ÖCJ
( +(?N(yÅ@(àC(y;(A@(Ç@(?@(ÖC(;FÇB@((O@(àCO(N}C(=>}(?>Ñ(NFOC(=>Ñ(
y(Ö@(B>(AC;(?@(OC((?@(F=>(Ö;O(@=@(z>(;O(F=>(O@(?@J
( #;(@(F=>(O@(àC(FN(y(?N(yÅC(=>(=@(FzC(AC(D>(=@(}>={
( #;((~>(FyC(~>(Ö@(z>(;(B@(=;E(É>(z;(z;(|?;E(;AC(ÅC(à@(FN(>L
B;(A>(z>(y@H)aJA)R@)=B@)A)G@ø(?;(Ö@(ÖC(F@(FÇ@(BÅC(=@(;A(y

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
;B@($C?(Fy>(Ç(=@(}>=J(3=>(O@(àCO(;B;E(AC(z@(
y(?N(yÅC(=>(FN(N;(@(@=@(z>(N(E(~>(Ñ(L
ÇCÇ(=>(Ö>O(=@(àCO(C=(EzC(F?;E(ÖC(>(?@(>(F@(O;(à>(O@(ÖC(A@(Ç;(A@((=@Ö(@Ñ(ÇCB(=>(Ö@J(
( 2(Ü(FN(>@(:(~>(N(Ç>O(E(Ç>(¨É(>(|y@=(F?>(ÖC(>?J('BC(E(?@(=@(N}C(àC(C=(EzC(F?;E(
ÖC(>(?@(>(A@(FzN(GC(?@;(?;=(Ç(=>(F@(=>(y;(FzC(AC(D>O(?(ÇC((ÖN(O>(O@{
( #;((B;(A>(N(@O(:>(ÖC=(ÇN(
?;(Ö>(FÇB@((y(Ç>(F@?(¨y(FN(FÇB;(yN(:z>(?CJ('z@?(|@(B@L
ÖN(D@(;?;z(=;FÇ(ÖC(Ç@(|Ç;(ÖC(ÇC?FÇ(BCD(N=@(y;(=@(N(}C=(>(Fy(F@=(?@;(A;(=C(?zC(Fy(~>(FN(>O@(z>(y;A(FCÇ(=>?P(@z>(FN(:>(z>(y;A(B(A;(A@Ç(=>O(y>(Ç@(à>(O@(>(=>(FN(>O@(z>(?;O(yzCÇ(=;(Fy(Ö@(N((~>(O;((A@(;AL
E;(B@((A>(F?N(ÇN(ÖN(=@(z>(~N(OC(FÇ@(:C(>?@(?BC(y(y(>((?@(37(;AC(ÅC(à@P(HçP(;AL
=;(F=;(Hã(N}C(=>(?@(5(>(Ü(E(=>(ãç(F(?@J(
HHç

HH§
uOmO'T:6;'Ñ'=
ó('0"()ó.%ª('5,#
4@;(|Ç;(ÖC(N(y(z;(=@(y;(OC(=N(Ç;P(FN(:ÖC(?@Ç(>F(y>(Ç>(B@L
à@(FN(Ç(E(ÖC(N}C(=>(?@(!(ÖC(A>(ÉC(((N}C(=>(~>(§J(E;(A>(=C(F(Ç>(O@(ÇC((Ö@(z>(?;(ÖC(ÖC(Ç=(Ç@?(F@ 1 çJâ(«
4;=(FÇ(ÖC 4 K§Jä(«
+ 4 K§Jä(«
,(E;(B;< KM çâ((«
#?Ny(=; Hâ KMM(«
(
#;((ÖC(:>;(@=@(z>(>((=C(;A(KâM(8(HMM(P(y(
}C(ON(AC(B>(Ö@(~>(Ö@(;A(F(}C(=@(}@Ö(=;(=@(FÇ@(Ç>(FÇ>}(?C(F(y>(Ç>(B@(à@J(
#(yF(y>(Ç>(B@(àN(EO@(z@((#;(=(ÇC;(K§J(+;(|Ç;(ÖC(EF(y>(Ç>(B@(àC(B(=;(O@(z@P(
@=@(z>(>((B;(C(àN(
y

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
in(NOC(FÇ;(g9>J(N(FzC(AC(DCO(y(OC((~@Ö(O@(ÇC(?@J
( 2}(?>(y(?@(B(=C(@(FÇN(yÅC(=;(FÇ>(E(~>(KJ
Procentualna zastupljenost grešaka
36%
15%
7%
4%
0%
15%
4%
4%
15%
Morfologija
Modalni glagoli
Vreme
!"#$%&'
()*+,)-'
Sintaksa
Konstrukcije
Predlozi
./0%&%,
3z>(?@(K(8(+(=>Ñ(EF(y>(Ç>(B@(àC{(2(B@(àC(:>(z>(FN(N}C(=>(~>(E(Ü(?;(Ö>(FN(>O@(z>(
@(A@(Ç@?(A@(NFOC(=;(y(~>(FN(>O@(z>(
O;(END(=;FÇ(A@(?@;(y;A(FCÇ(=>?(?;((FÇC(OF)g@G)OF)9:>)y(ÖNP(O@(A@(ÖC(=@ÖL
BC(D>(AC;(NFOC(=C(y(ÖC(:>;(N(Fz;(:;A(=;Ö(É;J(#?Ny(=@(y;(yN(z@(~>(Ö@(
?;(Ö@(ÖC(@=@(z>(>((?@P(y(}C(ON(=>(ÖC(N;}C(=@(F?;((?@(?B@((?@(N(Ç>(yN(>(:(=>Ñ(E

%>y(Ey(E=(Ç@?(F@ Hâ ãJâ((«
HHã

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
4;=(FÇ(ÖC HM åJMã((«
+ ä H((«
,(E;(B;< äâ HH(((«
#?Ny(=; çIå KMM(«
100.00%
90.00%
80.00%
70.00%
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
Morfologija
Modalni glagoli
Vreme
!"#$%&'
()*+,)-'
Sintaksa
Konstrukcije
Predlozi
./0%&%,
Ukupno
I
I
II
III
3z>(?@(§(8(2}(?@(y(Ö@(B(=C(N}C(FÇ@(z;(FÇ>(y;(Ö@(BÅ>(B@(à@((
EF(y>(Ç>(B@(à@
%@(:C(z@(§(8(#y;((@(ç(FzN(}@(Ö@(¨B(=@(N}C(FÇ@(z;FÇ(y;(Ö@(BÅ>(B@(à@(
Ey(E(Ez@(E;(z> çJâM« HJçM« çJåM«
& K§JäM« HIJIM« çMJãM«
"CA( çJâM« çJIM« åJçM«
3>=(Ç@?(F@ çJâM« â« ãJâM«
4;=(FÇ(ÖC K§JäM« âJ§M« åJMã«
+ K§JäM« HJâM« H«
,(E;(B;< çâ« KäJKM« HH«
#?Ny(=; KMM« KMM« KMM«
HHâ

ó('0"()ó.%ª('5,#
%>(y>(}@=(y(OC(y(?@(y(EF(y>(Ç>(B@(àC{(2(Ü((L(N;((HJ(+;(FzCA(àC(>F(y>(Ç>(B@(àC(ÖC(Fy(~>(O@(>(Ç>Ñ(E(A@(;A(E;(B@(Ç@àrJ(,(;B(AC(FN(FC((;A(E;(B;((>z>(y(ÖC(y(=C(KäM(8(HMM(J(("C(Nz(Ç@(Ç>(
FN(y(N(Ç@(:C(z>(ç(y(}C(ON(ÖC(B(=@(A>(FÇ(:N(~>(Ö@(E}(=@((y=(Ç@?(F@ 1 Kä Hâ
4;=(FÇ(ÖC 4 KI HM
HHä

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
+ 4 â ä
,(E;(B;< KM §ã äâ
#?Ny(=; Hâ Hå§ çIå
(
3zC(AC(D>(?;((y;(?N(|@Ö(A@(FC(y;(Ö@(BÅ>(B@(àC(
y;(ÖC(A>(=>Ñ(E(?;((Ö@(>(OCL
N(=>(;(B@(:(;y>(FN(ÖN(N}C(FÇ@(z;FÇ(y;(Ö@(BÅ>(B@(à@(y;(ÖC(A>(=>Ñ(EÑ(y;(A@(Ç@(?@(B(=C(N}C(FÇ@(z;(FÇ>(y;(Ö@(BÅ>L
B@(à@(E(§J(
3@( Fz>(?C( §( FC( B>(A>( A@( y;(FÇ;(Ö>( y(:z>(G=;( Fz>(}@=( (B@(à@(y;(ÖC(A>(=>Ñ(E}(=C((OC(N(y;(Ö@(BÅ>(B@(à@(E((N}C(=>(~>(
>(Ç>Ñ(E(>O@(ÖN(?;=(BC(ÖN(
>z>(F>(FÇCO(y>(Ç@(àC(8(;A(E;(B;(å(ÖC(y(?@(@=(:}(=;P(=@Ö(O@(à>(:(~>(>(E(B@(=;(:(N(>(z@(E@(àN(B>(|C(?;((FÇC(?;=(FÇ(ÖC(?;(ÖC(F>(>O(
ÖCA(=;(FÇ@B(=>(ÖCP(@(>(:C(E@(B@(ÖN(;=C(?;(ÖC(FO@(ÇO(>(AN(G>O(¨Vói(^pi(jinh(
Rsv(ñîi(Vin(ji(ujJ(Vói(^pi(jinh(Tmn(hs(nl(m(lj(Vin(ji(J,FÇ;(B@(G>(>(@(>(:;(?@(ã(8(4;((Ö@(N}C(FÇ@(z;(FÇ>(y;(Ö@(BÅ>(B@(à@(EF(Ç(B@(=>O(
N;(O@
HHI

ó('0"()ó.%ª('5,#
0@(?L
OC(N(y;(ÖC(A>(=>Ñ(>F(y>(Ç>(B@(=>Ñ(FzN(}@(ÖC(B@J((4;((Ö@(y;(Ö@(BÅ>(B@(à@(y;(ÖC(A>L
=>Ñ(E(OC(N(FzN(}@(Ö@(U(>(FzN(}@(Ö@(UU(ÖC(MJ§K§J(4;((Ö@(y;(Ö@(BÅ>(B@(à@(
E(OC(N(FzN(}@(Ö@(U(>(UUU(ÖC(MJåMP(A;?(ÖC(?;((Ö@(>(OC(N(y;(Ö@(BÅ>(B@(à@(
EF(y>(Ç>(B@(à>(O@(UU(>(UUU(>(N(CÇ(=;(B>(F;(?@(>(>(=;(F>(MJII(¨Fz>(?@(ãJ(Vm(
=@(}>(A@(N(FzN(}@(ÖN(?@(A@(ÖCA(=@(E(?P(
|y@=(F?>(>z>(É(y(>z>(=C(=@(N(}C(=>(ÇC?FÇP(|C(O@(y;L
Ö@(BÅ>(B@(à@(EFÇ@J(2(?N(yL
?@(N(ÖC(A(ÖN(|C(ON(Ñ(E(ÇO@(Ç>(N(B>(AN(>(}>(àC(=>(~N(A@(FC(
E(ÇC(GC(>AC=(Ç>(É>(?N(ÖN(;A(E(~>(
y(?;O(y>(F@(à@J((+(;B;(OC(ÇO@(Ç>(N(B>(AN(A@(ÖC(y;(ÖC(A>(=C(E(ÇC(|?;(>AC=(Ç>(É>(?;(B@(Ç>(>(y(É>(?N(ÖC(EO@(ÇC=(AC=(~>(ÖN(A@(
¥>F(y'j>k'8;8'Ñ>9'â6'ä'å8'è9çÑ''
ë6'º8'â6'ä(
N(F(?NP(y@(FC(O;(GC(y(Ç>(A@(ÖC(N}C(=>(~>(O@(z@(?;(A@(
=@(N(}C(y(z;(>(A@(E@(y(OC(àN(ÖN(:C(OC(|@(à@(>F(?N(FÇB@(>(O@(ÇC(?@J(('B;(ÖC(E(G>O(=>(B;(;O(=@(à@J(#}C(=>(~>(N(E(B;(=@(à@(y(:Ñ(E(?@(F@(=@(yO(=>(B;(;O(=@(à@(;B@Ö(Ç>y(E

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
m( 0C(NF(?z@(C(=;FÇ(FN(:ÖC?(Ç@(>(Ez@(E;(z@(ÖC(E(?;Ö(OC((>=L
Ç=(EB@z(=@(>(?;(Ö@(FC(O;(GC(y(y>(F@(Ç>(E(~>(C=(EzC(F?;E(ÖC(>(?@J(
#(:>(z;(?;O(z>(~NP(FCO(Ç(~@(ÖCA(=>(=CP(=C(y;(FÇ;(Ö>(FyC(~>(É>}(=>(
=@(FÇ@(B@?(=@(Ez@(E;(z>(O@J(%;P(Ç@(?;(CP(>O@(FB;Ö(NÇ>(~@Ö(>(=@(?;((|DC(àC(
y;(O;D(=;E(Ez@(E;(z@)>F)f@)¨}C(FÇ@(E(
A@(ÖC(N(BC(z>(?;Ö(OC((;B@Ö(Ç>y(E=(Ç=(EB@z(=C(y(}(=C(E(=>(ÖC(OC(FÇ;J(#}C(=>(~>(Ny@(A@(ÖN(N(
@O(?N(EC(=C((@(~>(ÖC(>(y;(?N(|@(B@(ÖN(A@(y(OC(=C(y(z;(}@?(>(Ç@(O;(
EAC(@(Ç;(=C(y;(FÇ;(Ö>(=>(Ç>(OC(FÇ;P(=>(Ç>(y;(Ç(~>(FN(F?z;(=>(>z>(A@(y;Ç(yN(=;(>(;(FÇ@(BC(y(z;(>z>(A@(E@(
y(|C(y(OC(àN(ÖNJ
m( &C(z>(?>(:(zC(?@(ÇCL
E;((;(B@(=C(?@;(`:){):9)>9)Q@(NOC(FÇ;(OA=>)OAG)>9)b9)BC@P(OA=>)OAG)>9)b9)BC@(NOC(FÇ;(
`:){):9)>9)Q@l)OG@)=@:>)OAG)>9)b9)BC@(NOC(FÇ;(OA=>)OAG)>9)b9)BC@(>(;:(OC(|@(ÖN(F@(y(z>(O@(AL
FÇC(O@(N(;?B>(FÇ;E(ÖC(>(?@J(
m( 0C(N(F@(Ez@(|C(=;FÇ(>(OC(N(y(AC(B@(>(>OC(=>(~C(:>(:>;(Ö;|(ÖC(A@=(y(OC=(Ç=(EB@z(=C( E=J( #( C=(EzC(F?;O( ÖC(>(?N(
FB>(y(AC(B>(>O@(ÖN(>FÇ>(;:(z>?(N(ÖCA(=>(=>(>(O=;(G>(=>P(FCO(AB@{)>J9=(>(
>JA>J(6@(F=;(ÖC(A@(N(:(=>(N}C(=>(~>(}C(FÇ;(y(
Ç;(ÖC(E(ÖC(?;(Ö@(ÖC(BC(@(=@(@(FÇ(?@J(
m( 6C(A@=( :( A:F>)J@GP(
y(}C(ON(FC(>(;B(AC(O;(GC(>F(?ÅN(}>(Ç>(A@(ÖC(;B@(E=(ÇC=(EB@z(=@P(
y;(|Ç;(Fz>(}@=(y(OC(N(F(?NJ
m( #Ç>(~@Ö( F(?@( FC( O;(GC( N;}>(Ç>( N( FzN(}@(ÖC(B>(O@( >(;(FÇ@(BÅ@(à@(
Ez@(E;(z@(f%(N(?;=(FÇ(Ö@(O@P(?@;(=@(y(OC(gJ5J
( &C(z>(?>(:(Ç>(A;(BC(ACL
=C(N(BC(N(F@(yO(=@(àCO(O@(ÇC(?@J(
m( .BC=(ÇN(@z(=;(:>(FC(;?;(H«(N?Ny(=>Ñ(O;Ñ(E(F@(Ñ(
y(z@(>(F(?@P((=C(E;(A;(y(z@(N(C=(EzC(F?;O(ÖC(>(?NJ(%;(FC(
y;(FC:(=;(;A(=;(F>(=@(E(Ö>J(
HçK

ó('0"()ó.%ª('5,#
m( 'Ç(y(z>(?C(K£ç(FB>Ñ(y;(EÑ(F>=(Ç@?(F>(N((~@(O@(N(yO(
>F(y>(Ç>(B@(à>(O@(O;(Ez@(FC(A;(BC(FÇ>(N(BC(N(F@(Ç(y(z>((~C(=@(i=EzCF?>(?;((FÇC(D>(;F=;(BN(F(?@P(Ç@(?;(A@(FN(N:@(~>(B@(z>(C=(EzC(F?C((N(F=(Ç@?(FNP(@(Ç;(
|Ç;(FN(¥$#)-*#)*#)'()-"7)-/5OøP(@(=C(=@(¥C=(EzC(F?;OøJ(
&(OÅ>(B;(A@(FC(?;A(N}C(=>(?@(>(E(B@(z@(Ç>(y>}(=N(FÇ);F)
( %@(?;(C(ÖC(N;}C(=;(A@(FN(N}C(=>(~>(>(?;=(Ç(NFB@(Ö@(z>(y;Ö(O;(BC(>(C=(EzC(F?;E(ÖC(>(?@(?;(Ö>(FC(;A(=;(FC(=@(A(
Ny?(A;(FyC(zC(>(
É(?@J(3@(A(E(E;(B;((FC(=@(y(:;=(ÇCP(@(y=(ÇC=(EB@z(=C(ÖC(y((~@Ö(A(Ç@L
àN(ÖC(É(ÖC(>?P(Ö@(}>(;A(NÇ>(~@(Ö@(?;(Ö>(O@(ÇC(ÖC(>?(>O@(=@(y(
FÇP(C=(EzC(F?>(ÖC(>?J(0@Ö(}C(|D>(FzN(}@Ö(FN(y;(E(E;(B;((FNL
É>?(F>(É(O@(@(A(>(B;(¨É(>(E;(B;?@(?BC(O;(A>(É>(?@(~>(ÖC(>(@A@y(Ç@(~>(ÖCJ(
,=(Ç=(EB@z(=>(NÇ>(~@Ö(ÖC(y(FN(Ç@=(?;A((=@(FÇ@(z>Ñ(?;=(BC(Ö;OP(?@;(
>(?;A((}>(Ö>(FC(y@(>OC(=>(~@{Ez@(E;z(Fz>}(=;(y>(|CJ(
)@(?ÅN(}@?(>(BC(AC=(=@(;F=;(BN(FyF(Ç(B@(à@(ÖC(A@(A(FÇ(ÖC(>?(>O@(BC(D>(NÇ>(~@Ö(=@(FÇB@((=@(y;O(F>(ÇN(@(~>(Ö@(O@P(@(A(FÇ(ÖC(>?(
Ny(ÖCJ(3BC(ON(;B;(OC(Ç(}>(àC(=>(~N(
A@((N}C(=>(~>(Ç@(?;(C(Ny;((z@(Ç>=(F?>(ÖC(>?(?;(Ö>(A@(ÖC(?;(O(
(O@(N(;:@(FÇ(?@J
úO'W"'Pe'"P
0@(;F=;(BN(FyF(Ç(B@(à@(O;(GC(FC(@(?ÅN(}>(Ç>(A@(FC(y;(>(Ç>(B@=(
ÇF(?;((FÇ>(Ç>(N(=@(FÇ@(B>(FÇ(?@P(
@z>(B(y;(Å@(y;(>(Ç>B(=;E(ÇB(=;E(Ç

*0*1,)*(2".$*4*(#(#3-.0,-(+".).0%*Ü,6*-*((#°.0,4*(JJJ
DC(>D>(N(y(:C(E@(B@(à@(OC(FÇ@(=@(?;(Ö>(O@(FC(E

ó('0"()ó.%ª('5,#
vmhóip(hmnoli(rnk(ZçP(prhóip(hórn(snhprîsnolrîJ(Vói(ñpmñmjrîj(óm(hm(svñpmui(hói(hirgóL
sno(ñpmgijj(rpi(osuin(sn(hói(îrjh(górñhipJ
Y@e)gFGH=Ç)Yppmp(QnrîïjsjP(snhipîsnolrî(ippmpjP(snhprîsnolrî(ippmpj
Rrnkpr(Rhiòrnmusí
\nsuipshih(l(üprolìiuglP(Rpwsìr
iLvrsî{(jrnkpr jhiòÀïrómmJgmv
Hç§

X0R0+&#/&R30T
P$TS\$T&ecT'W"'Q#"æT$'SU'$\PV"c"''
T'gTQU"'h$"PSTR"'h$Tc\R"''
e'R"!S"UT'!S$"RQ]'&\WTP"
4;((|DC(àC( ( FÇ(?@( O;(GC( y;(FÇ@(Ç>( y;(E;A(=;( A>(A@?(Ç>}(?;(
F(Ñ;(B;(?;((|DC(àC(Ç;(?;O(
y(B;O(FC(zC?(~>(Ö;O((}N(>(;F=;B(=>(CzCOi=Ç>(=C(BC(?@(~>(ÖC(Ç;(E@(
=@((A@?(Ç>}(?;(F(F=;(FÇ>(;A(FÇ@(=(ÇC((=>(B;@(=@(à@(
FÇ(?@(N(y;(O;D(Ç@(:C(z@(N}C(=>(~>(O@(FC(O;(GC(;z@?(|@(Ç>((OC(O;L
(F@(àC(zC?(F>(?C(?@;(>(y(Ç>(O;(Ç>(B@(~>(Ö@(@(F@O(y(y(B>(AC;(O@(ÇC((Ö@zJ(
'B@(?@(BÇ(=>(?@(>(Ç@(:C(z@(O;(EN(FC(?;((FÇ>(Ç>(N(=@(FÇ@(B>(:>(z;(?;E(FÇ(?@J
ëï4N)'%)"%)N#{(%&((A@?(Ç>}(?;(FÇ(=>?P(Ç@(:C(zCJ
lO'SU'$\'PV"'c"'P"Q'"eS\R'ST'RT'UT'#\Q'c"'S\'$T'&"V''
lOlO'øh9¿'SU'96'jã>'ë6'
%&((}@=(B>(AC;(O@(ÇC((Ö@zP(=>(FN(y;(ÖCA(=;(FÇ@(BÅC(=C(@(ÖC(>}L
?N( Ny;(Ç(Ç>( @(O(Ç@(?;(A;(?;(ÖC(OC((Fy;(F;:(=>(A@(FC(Ç>O(
ÖC(>(?;O(FzN(GCJ(3z>}(=;(Ç;(OCP(>(z@(E@(àC(FÇN(AC(=@(Ç@(Ç@(?B;O(ÖC(>(?N(>(?Nz(ÇN(A;(y;(BC(D@(à@(F@(O;(FÇ@z(=;(FÇ>(N(Bz@(A@(àN(ÖC(>(?;OP(ÇÖJ;FCL
D@(Ö@(EAC(FÇN(AC=Ç(O;(GC(A@(ÉN=?(~>(;(=>(|C(z>=(EB>(FÇ>}(?>(>(B@=(>(A@(N}>(;(=>(~CJ(
¨Zm(nip(orn(KIäç{(ãI((¨Xr(usj(KIIâ(
5N(AN(D>(A@(FN(A@(=@(|àC((N;y(|ÇC(O;(EzC(A@(y;(FÇ>E(=N(FB;Ö(~>Å(
>(NFyCÑ(?;A(yN(:z>(?CP(y(=N(C(=C(A@(:N(AN(B=;(B@(Ç>B(=C(>(;(E>(=@z(=CP(;:;L
ÖC(=C(FN(Ö@(?;O(CO;(Ç>B(=;O((Ö;O(?;A(FÇN(AC(=@(Ç@P(|Ç;(A;(B;(A>(A;(z@?(|CEP(
Hçå

#*#î()K(*.#
:(Ç(ÖCE(OC(O;((F@(à@(;=;(E@(|Ç;(FN(B>(AC(z>P(@(Ç>(OC(>(E}(?>Ñ(
FÇN(P(É;(?N(F>((=@(ÖCL
A@=(y(ÇC(O@(Ç>(?NP(z>(E(B@(?;(ÖC(ÖC(y((FÇN(AC=(Ç>(?;(Ö>(O@(FC(yO(ÖC(
y;(=N(C=(>(;A(y;(}CÇ(?@(FN(FBC(F=>(z>=(EB>(FÇ>}(?;E(~>(Å@(?;(Ö>(ÇE(=NJ(
¨Xr(usj(KIIâJ
"C(?z@(O@(?@;(%&(G@(=}(=;(FN(BC(;(O@(@L
>=(ÇC((@(àNP(>((?;O(DC(N(àN(y(N(BC(DC(@(A;(B;Å(FÇB;(
=C(E;(|Ç;(:>(Ç;(:>;(FzN(}@Ö(A@(FC((F@(O;(F@(NÔ(:C(=>(?;OP(@(N(y(z;E(Ç;(OC(>AC(
>(}>(àC(=>(~@(A@(FN(FÇN(AC=(Ç>(A@(=@F(NEz@B(=;O(NyN(DC(=>(=@(Ç=(É;(Ö@(>(FÇ>(~@(àC(=@(à@(y(OC(A>(Ö@z(=>Ñ(F(Ç>(
=@(y;(}CÇ(=>O(=>(B;(>(O@P(@(O;(EN(:>(Ç>(A;(B;Å(=;(z>=(EB>(FÇ>}(?>(?;O(yzC?(F=C(A@(FN(
>@(;B(>(@(=@Ö(B>(|C(=>(B;CJ(¨Zii(KIä§{Kçç
!N(G>(=@(F@(OC((=N(Ç@P(F@(
yJ(¨ürhgóin(HMMK{Kå(
6C(>?(%&((Ö@(z;(|?;Ö(É;(?;(Ö@(FÇN(AC=(ÇC(>L
z@(GC(FzC=(ENP((}>(Ç>O(ÖC(>}(?>O((FÇ(O@P(F?(~@(O@P(>A>(;(O@Ç(F?>O(
>((O@(>(FzJ(!;(A@Ç(=;P(FÇN(AC=(Ç>(O;(EN(}N(Ç>(=@(Ç>B(=C(E;(B;(?CP((}>(ÇC(
@?(~C=(ÇC(>(A>(Ö@(zC?(ÇCJ
%&((B;(
N(NÔ(:C(=>(~>(O@P(fFJP(N(>Ç@z>ìr=F?;O(ÖC(>(?N(@('%)2'($P(>z>(g5g(N(C=(EzC(F?;O(
@(>((BÅC(à@(OC(N(Oz@(A>(O@J
lOmO'SU'96'jã>'ë>'â'8':>';>'ïª6ë':98'ïÑÜ8
(0C(?>(@=@(z>(Ç>(}@((%&(B(=>O(¥G@=((ÖC(
A;(FÇ>(E@;(FB;(ÖN(@NÇ;(=;(O>(ÖN(>(((|ÅC(à@(?;(Ö@(Bz@(A@(ÖN(N(A(Ö>P(F@(O@(ÇC(zC(B>(>(Ö@(>z>(É>z(O;(B>(>=(Fy>((|N(à;(OCP(àC(=;O(E(?;O(>z>(F>=(Ç@?(F;OJ(¨Vr(prî(îm(HMMã{(HKP(H§(
3Ç@(Ç>(FÇ>(?C(y;(?@(N(ÖN(A@(ÖCP((O;(N(*OC((~>P(y(}C(E@(y(>(z@(>(A@(ÇC(zC(B>(>(ÖN(F(y

4",%.",6#-,()*('!*5,"(%&(".41*-*(,(/,á'&*(+"*4%,°0*(JJJ
0@(FÇ@B(=>(~>(>(FÇN(AC=(Ç>(N(A@(=@(|àC(B(>Ö(F?>(y;(ÇJ(3BC(z@?(|C(>(:=(É;(>Ö(F?;O(y(O@(?@;(>(=;(B>O(ÇCÑ(=>}(?>O(O;(END(=;(FÇ>(O@(?;(ÖC(FC(=N(ACJ(
mO'ehQ'S$\'æ"'SU'$\'PV"'c\'e'R"'!S"'UT
mOl'øh>'åF(yB(=;(:>(zC(yN(|Ç@(=C((:>(O;(E@;(A@(=@(}>(EN(:ÅC(àC(A}(?C(Ç@}(?C(EzC(A>(|Ç@J(-C(Ç;(A>(?@(=@(FÇ@(BC(FÇ(?@P(}@?(>(?@(A@(ÖC(
Ny;(Ç}(?>Ñ(B>(AC;(O@(ÇC((Ö@(z@P(O;(O@(FB;(Ö@(y(z@P(@(y(z@(N=@(yÅ(=@(FÇ@(BC(?;(Ö>(Ç(D>J(
4@;(|Ç;(=@(O;(A@(FC(y(=N(Ç@(y@(Gà@(FÇN(AC(=@(Ç@(A}(=;(FO@(àN(ÖCP(@(Ç;(=@O(A;(A@Ç(=;(=@(OC(DC(;:@(BC(N(?;(Ö@(Ç((ÖN(O(Ç>(y;O(@NÇC=(Ç>}(=;E(
B>(AC;(O@(ÇC((Ö@(z@J
.É>(?@(F=;FÇ(yN(|Ç@(à@(%&((A@?(Ç>}(?;E(OC(A>(Ö@(ÖC(>(N(A;(>L
P(y(=;O(;A@(:>((Ñ;(BC(y;(Ç(?Nz(ÇN(P(A@(?zCP(N(@?(Ç>B(=;O(y(yL
AC;(O@(ÇC((Ö@(z@(?;(Ö>(ÖC(F@(O;(ÖCA(=@(?@((?@(N(?;(OzC?(F=;Ö(y(y(EzC(A@(à@(
@NÇi=Ç>}=;E(B>Ai;(@(y>(F@J(¨Vmp(pi(jrn(HMM§{H
mOm'h9ç'=6å':(N(ÖC(=;(F>(F@(F;(:;O(AC(Ç@(Å@=(y;(F@;(yL
y(?@(Ç>B(=;E(?@(=@(z@(?;(Ö>(FC(?;((FÇ>(N(P(
(}>(Ç;FÇ(ÖC(>}(?>Ñ((FÇ@(=(EB>(FÇ>}(?>Ñ(P(F;(~>;L?Nz(ÇN(ÑP(C?FL
Ç=(EB>(FÇ>}(?>Ñ(>(y@(=(EB>(FÇ>}(?>Ñ(F@(A(FC(B>(AC;(>(%&((?;((FÇ>(Ç>(N(=@(FÇ@(B>P(F@O(
yÇ(=>Ñ(CzC(OC(=@(Ç@(@(
A>(A@?(Ç>}(?N(;:((O@(ÇC((Ö@(z@(>(BN(}C(FBC(
:>Ç(=C(CzC(OC=(ÇC(@(A>(A@?(Ç>(;(B@(àC(B>(AC;(O@(ÇC((Ö@(z@P(;A(=;(F=;(O;((F@(¨B>(N(Cz(=CP(BN}(=C(>(ÇCÑ(=>}(?CJ(
Hçâ

#*#î()K(*.#
%;(?;O( y(C( ;(O(F~C(=@(O@(>(?ÅN}(=>O((O@(
¨=R9P)P9:;(æ(=@(?;=(Ç;(E@(:>(FC(y(:C(Ez;(AC(Ç@Å(=>(Ö;Ö(@=@(z>(>(¨=bA:):9:;P(z>=L
EB>(FÇ>}(?;ÖP(@z>(>(?Nz(ÇN((?@;(>(=C(BCO(@FyC?(Ç>(O@(
?;(Ö>(}>(=C(?;(ON(=>(?@(~>Ö(F?>(y(A@?(Ç>}(?;Ö(Ny;(Ç(%&((O@(=@(?;(ÖC(;=C(=;(FC(F@(F;(:;O{
oà'R6'j6'ç:'è96:';ç'åÑ'ë>k'
L(y;(FÇ;(Ö>(B>(F;(?@(O;(Ç>(B@(~>(Ö@(?;A(FÇN(AC(=@(Ç@æ
L(:N(AN(D>(A@(ÖC(N(FyC(~>(É>}(=;O(?;=(ÇC?(FÇNP(ÖC(>?(ÖC(z@(?;(Bæ
L(y(FN(>(@=@(z>(>(((}>(Ç>(O;(AC(z>(ÖC(>(?@æ
L(y;(FÇ;(Ö>(>AC(@(z@=(;A(=;F(Fz>(?C(>(BN(?@æ
L(y;(FÇ;(Ö>(>(O;(END(=;FÇ(@=@(z>(C(C?(Ç=(EB>(FÇ>}(?>Ñ(?;O(y;(=C=(Ç>æ
L(A;(z@(>(A;(>((A@?(Ç>}(?@(ÉzC?(F>(:>z(=;FÇæ
L(((B;N(=@(à@(ÖC(>(?@J(¨Ti(ñmî(îr(pm(P(Zl(s(ji
:(c>;6''é'ª6'SU'96'jã>'ë>
+(z;(?@(?B;E(;A@(:>((FN(O=;(E;(FÇ(>(?;O(yzC?(F=>P(ÇC(FC(O;((Ç>((=@}(=;Ö(?;O(y;(=C=(Ç>((:>(FO;(F@(O;(=C(?C(;A(à>Ñ(?;(ÖC(
FN(=C(@(;(:>(z@(=C(Ç@}(?C(N(É;((A@?(Ç>}(?C(Ny;(Ç

4",%.",6#-,()*('!*5,"(%&(".41*-*(,(/,á'&*(+"*4%,°0*(JJJ
K( %>y(FÇN(AC(=@(Ç@(ÇÖJ(à>(Ñ;(B;(à>(Ñ;(B;(FÇ@((B;(=@(à@(ÖC(>(?@(>(
?Nz(ÇN((Ç;(OC(FzJ
H( %C?FÇ(>(?;=(ÇC?FÇ((?@(Ç>B(=>(G@(ÖC(y(FN(Ç@=(N(J(¨*(O;(GC(:>(Ç>(B>L
|C(;A(ÖCA(=;EJ
§( 6C(>}(?>((FÇJ(
å( 1>=(EB>(FÇ>}(?>(F@(AJ
ã( 6C(>}(?;L(?Nz(ÇN(F@(AJ
â( 5Ñ(N(P(ÇÖJ(|Ç;(ÖC(BC(D>(:(?;(OzC?(F=>(ÖC(ÖC(?@(}C(FÇ;(=C(DC(N(y;Ç(yN(=;(FÇ>(
y(Ç>(E;(B;(:(?;(B@(DC(A;(y(=;(F>(Ç>(z@?(|CO((Ç@(àC(
F@(NF@(=@J
ä( 5(=@( E;(B;(( Ç;=( ?;(Ö>O( z>?( E;(B;(( ÖC( FB@(?@(?;( Ö;|( ÖC(A@=( É@?(Ç;( ( y(z@(E;(A>(Ç>( E@( FÇN(AC=(Ç>(O@J( ¨Xs(r(km(ps(
HMMK{çMH
-;(EN(DC(ÖC(N=@(yO@(Ç>(=C(?N(B(B@(G>(z@(?@;(;:;>'ã'ë6
K(%CÑ(=>}(?>(y;(A@(~>
(((((((((%(=@({
"C(?z@(O>((y(B;A{
(((((((((-@;Ly}(=>(>(yF>(Ñ;(z;(|?>(@FyC?(Ç>
'A(=;F(ÖC(>?LFz>(?@{
'A(=;F(ÖC(>?L?;=(ÇC?FÇ{
%C?(FÇN(@z(=@(Ç>(y;(z;(E>(Ö@{
"C(E>(;(=@z(=>(ÖC(>(~>{
(((((((((7;(>(=C(É;(ÖC(>}(?>((FÇ{
4;(z;(?B>(Ö@z(=>(ÖC(>?{
(((((((((3ÇC(yC=(ÇC(|?;(DC(¨;A(å(A;(KM{
HçI

H§M
#*#î()K(*.#
ç(3;(~>;L?Nz(ÇN((@FyC?(Ç>{
,O(yz>(~>Ç(=>(?Nz(ÇN((CzC(OC=(Ç>{
.?F(yz>(~>Ç(=>(?Nz(Ç;((CzC(OC=(Ç>{
3ÇC((y;(B>{
+;(=@(ÇC(z>}(=;(FÇ>{
3ÇC(yC=(ÇC(|?;(DC(¨;A(å(A;(KM{
§(6C(>}(?@(?;O(yC(ÇC=(~>(Ö@{
-;=(Ç@?(F>}(?>(CzC(OC=(Ç>{(
5(=@(E;(B;((Ö@(>(>(E;(B;}(?@(?;O(yzC?(F=;FÇ{
3ÇC(yC=(ÇC(|?;(DC(¨;A(å(A;(KM{
å(.?F(Ç=(EB>(FÇ>}(?@(?;O(yC(ÇC=(~>(Ö@{(
$N(O;(B>(>(:N(?@(N(y;(@(A>(=>{
-N(>(?@({
!;(O>(=@=Ç(=C(:;(ÖC{
,=(ÇC'å
3>=(ÇC(@(
Fy;(Ç@(
+(B;A( 3z;(E@=( 1>=(EB>L
FÇ>}(?>(
CzC(OC=(Ç>
4Nz(ÇN(
CzC(OC=(Ç>
7N=?(~>(;L
=@z(=>(CzCL
OC=(Ç>
+;(}(=@(
>A>(z@P(?NL
Ñ>(à@
UA)G9C)CA)ñrL
jhr
^F)Q@)bI‰)
UA)G9C)CA)bI‰)
bA)=A
[îr(omî(es­
=@G)b9
4N(D@P(y;L
(~@(
.O;(Ç>B(=@(
ÉN=?(~>(Ö@

4",%.",6#-,()*('!*5,"(%&(".41*-*(,(/,á'&*(+"*4%,°0*(JJJ
úO'S\'RT'P\'h$T'P"'WT'U"'g"'SU'$\'PV"'c\'e'R"'!S"'UT
úOlO'!ãç'éç:';>''8'è9ç'=6'å8':
$Ç;(FC(Ç>(}C(F@(O>Ñ(ÇCÑ(=>(?@(y(?@(>(B@(à@(?@æ
H( &;(C(=@(ÇCÑ=>?@J
+(>(Fz@(:C(FÇ(N(;:C(ÇCÑ(=>(?CJ
#(åãç'éç:';çâ'Ñ6É';(FN(
=@(B>(?z>(=@(@NÇC=(Ç>}(=C(@NA>(;(B>(N(Cz(=C(O@(ÇC((Ö@(zCP(@(?@(F=>(ÖC(FC(;:>}(=;(=C(
F@(BC(ÇN(ÖC(:;E(=C(y;(FÇ;(Ö@(à@(;A(Ñ(?(ÇC((ÖN(O@(?;(Ö>(O@(:>(FC(FÇN(AC=(Ç>((z>P(@(F@(O>O(Ç>O(>(=C(Ñ;(O;(EC(=>Ñ(J
)@(A@(Ç@?P(y@?P(Üç'º6';6'Ñ6É';

#*#î()K(*.#
O'h$"P'ST'RT'h$T'c\'$T
OlO'Pç;'Ñ9>'åÑ;>'ã'ë6
)@(y(OC(?C(>@(:(FO;(?;=(ÇB(=N(@=@(z>(N(ABC(Ñ(ÖC(ÖCA(=@(@(ë5)/()ë5)*4P(@(ÖCA(=@((=C('jç;'Ñ9>'åÑ;>'ã'ë6
4;(ÖC(;A(A;(zC(=@(:Ñ(B(O>(Fz>|(A@(FC(=@(z@(C(N((B>(AC;¬
cF)bA)cF)CA
'y(Ç>(O>(@O(PF'ë6
3zC(AC(D>(y(}@=(y(OC(A@(ÖC(O;(ÖC()/.'\']"'+/'^"'_`')"'1a/']"J(-;(GC(FC(
?;((FÇ>(Ç>(=@(F@(O;O(y;(}CÇ(=;O(=>(B;N(¨*KP(@(@((Ç>((y;(Ç(Ç>(y

4",%.",6#-,()*('!*5,"(%&(".41*-*(,(/,á'&*(+"*4%,°0*(JJJ
S>'é6'ã>)b/.'\']"'+/'^"'_`')"'1a/']"
y(B;AP(y;(L
ÇCÇ
?(N?NL
F=@
C?;(=;(O>(}@=
çJ(O@|>=@(@(FNA;BC((
`:H@=9>
OC(?@(=@
=;(B@(É;(O@
3z>}(=>O(Ç@(:C(z@(O@(O;(GC(O;(y;((Ç>(z>(?;(BC(N(ÖCA(=;Ö(>F(Ç;Ö((>z>(y(Ç>(?;=(ÇB(=N(@=@(z>(N(z>(?;(B@(>(@G9)H9)=b@C>A)B@G)9C)PA>@G9AC@)>@C@Q9=9QF)A@:>9bF)=@bF:HF)9)C9Q@C­
C9)H9)ABBG@:H9P@:>Fs)J>>BÇSSgggs9>AC=g@fs;GSbG9>@G9s=b@C>AsAQsJ>P
XrusjP(`J(¨KIIâJ(Vc(gmvvipgsrî(vijjroij{(Qn(lnhrññik(uskim(pijmlpgi(òmp(gmnhinhL
wrjik(gîrjjijJ([J@)8A:;AC9A:F)A))=>GA:9@G9J(
Zi(ômnnsipP(ññJ(HIILçMK
H§ç

#*#î()K(*.#
[srnnmni(^rhpssr(¨HMMäJ((aOZ[C9;J>)F:)b@G)å(¨KP(KåLKâJ
ZiiP(XJ(¨KIä§J(Viîiusjsmn(Tmvvipgsrîj(òmp([ipvrn(Zsjhinsno(TmvñpióinjsmnJ(^9@)¥:­
>@GG9bJ>=BGAñ9=)S)[@AbJ9:;)j@GPA:(Kâ(¨K(KççLKçåJ
ZmnipornP(eJ(¨KIäçJ(cskim(rññîsgrhsmnj(sn(Ynoîsjó(îrnolroi(hirgósnoJ(Un{ V9H@F)ABBC9­
bA>9F:=)9:)]:;C9=J)CA:;@AbJ9:;¨)eJ(ôg[muipn(P(ikjJJ((Sòmpk{(^iporvmnP(
ãILäâJ
Zlsji(ôrpsrP((Ripprosmhhm([prsrnm(¨HMMIJ(`:=@;:AG@)9>AC9A:F)bFP@)C9:;GA:9@GA)A)
fAPf9:9l)9:=@;:AG@)9>AC9A:F)bFP@)C9:;GA:9@GA)AH)AH9J(cinisr{(\nsuipjshrf(Trf(
bmjgrps(ks(cinisrs)óhhñ{££uinljJlnsuiJsh£ûîsv(
WrpksP(QJ(¨HMMçJ(Sjjipurpi(îr(îismni{(jlîîfljm(ks(vrhipsrîi(uskim(niîîfrnrîsjs(kiîîfrsmni(
kskrhhsgrJ([^(HIP(HåLçKJ
Vrprîîm(Qîòpikm(¨HMMãJ(8I9>AC9A:F)bF:);C9)=BF>)BAG9Jcinisr{(Zrwmprhmpsm(`>AC=l)
\nsuipjshrf(Trf(bmjgrps(ks(cinisrJ
VmppijrnP(^J(¨HMM§J)Uî(uskim(sn(gîrjjiJ)^9HA>>9bA)À)cCA==@)OC9F:)F:)@B9=FH9b)P@PFGe)iFG)
[V)bFPP@Gb9AC=J(ôrksjmn{(Rgómmî(mò(emlpnrîsjv(rnk(ôrjj(TmvvlnsgrhsmnP(\nsuipL
jshï(mò(©sjgmnjsnJ
csusrnP(eJ(¨HMMåJ([J@)P@H9A)Fi)PA==)bFPP9F:J(amjhmn{(^irpjmnJ
X0R0+&#/&R30T
U(T`UVY`U(^Y`(RTY[ZUY`Y(ZY(^\aaZUTUVQf(VYZYcURUcY(Y
(ZQ(ZS`S(Q^^ZUTQõUSWY(^`QVUTQ(WYZZfUWRY[WQôYWVS(XU(\WQ(ZUW[\Q(
RV`QWUY`Q
H§§
h9A==F
((Zi(ñlwwîsgshrf(hiîiusjsui(ñmjjmnm(hpmurpi(ln(osljhm(ñmjhm(niîîfsnjionrvinhm(kiîîi(îsnoli(
jhprnsipi(i(ksuinhrpi(lnm(jhplvinhm(ñikromosgm(iggiîîinhiP(i(niîîm(jhijjm(hivñm(ñmjjmnm(
prññpijinhrpi(lnf(ijñpijjsmni(kiîîr(îsnolr(ñrpîrhrP(kiîîr(vmkr(i(glîhlpr(ks(ln(ñmñmîmJ(˜(
òrgsîi(ijhprpni(iîivinhs((ihprîsnoljhsgs(gói(js(vijgmîrnm(gmn(îr(îsnolr(ñrpîrhr(pinkinkm(
gmjsf(ln(rhhm(gmvlnsgrhsum(ñslf(gósrpm(J(Zi(ñlwwîsgshrf(hiîiusjsui(jmnm(vrhipsrîi(rlhinhsgm(
rlksmusjsum(gói(q(wpiui(i(gói(gs(ñlmf(jipuspi(ñip(gmvñîihrpi(lnr(îismniP(m(js(ñmjjmnm(
ljrpi(gmvi(ñlnhm(ks(ñrphinr(ñip(îr(gmnuipjrsmni(ijjinkm(îm(jñiggósm(kiîîr(jmgsihrf(îr(
gls(îsnlor(js(svñrprJ(Ts(jmnm(gpships(gói(js(kiumnm(kihipvsnrpi(sn(rnhsgsñm(i((gói(js(kiumnm(
psjñihhrpi(ñipgóif(îr(ñlwwîsgshrf(js(ñmjjr(ljrpi(kskrhhsgrvinhi(i((ksuinhs(rggihhrwsîi(roîs(
jhlkinhsJ(Zi(ñlwwîsgshrf(js(ñmjjmnm(ljrpi(¥ñrjjsurvinhiøP(vr(úls(hprhhipivm(ñslhhmjhm(ln(
vmkm(¥rhhsumøJ([îsoîsi(i(jgóiki(jmnm(lnr(jñigsi(ks(olskr(ñip(îm(jhlkinhi(ñip(òrgsîshrpi(îr(
gmvñpinjsmni(kioîs(iîivinhs(gói(mòòpi(îr(ñlwwîsgshrfP(i(gói(ks(nrhlpr(jmnm(vmîhm(gmvñîijL

4",%.",6#-,()*('!*5,"(%&(".41*-*(,(/,á'&*(+"*4%,°0*(JJJ
jsJ(U(jions(ihprîsnoljhsgs(gói(gmn(îi(gmvñininhs(jmuprjiovinhrîs(grvwsrnm(m(òmpvrnm(
sî(jsonsûgrhm(jmnm(lnr(vsnsipr(krîîr(úlrîi(js(ñmjjmnm(hprppi(hrnhi(lnshrf(kskrhhsgói(i(s(
hivs(ñip(sî(îrumpm(gmn(îr(îsnolr(jhprnsiprJ(Vprhhipivm(rngói(îi(rnrîsjs(gmnhprjhsui(kiîîi(
ñlwwîsgshrf(ks(lnr(îsnolr(¨mññlpi(kiîîi(îsnoli(ksuipji(gói(hprvshi(s(úlijhsmnrps(jrpiwwipm(
ñpijinhrhs(gmn(îi(opsoîsiP(ksroprvvs(m(gmn(sî(iwJ(Sons(hrwiîîr(ñlmf(ijjipi(rppsgóshr(gmn(
ln(îmom(kiî(ñpmkmhhm(kioîs(jñmh(ñip(ijjipi(ñslf(òrgsîvinhi(psgmpkrhrJ(
->z>~@(5@zÇ>D
#=>BCÇCÇ(º'#5'l)5C;E

H§ã

DARJA MERTELJ
/Z0-'*/a-Y)/'*X.'Y*/-'/)4.1-/'*+Z4)')-*Yb1X`'
1)*,1*X'YZ0a,-_ÅY,*4/-'/5X)*_''
)Z'/,Z[-X1*X',-*3X-3/'
Vói(ñrñip(ñpijinhj(jmvi(pijlîhj(rwmlh(hói(vrjhipï(mò(gmvñîiLgîrlji(jïnhr(rvmno(RîmL
uini(ósoóLjgómmî(jhlkinhj(óm(îirpn(Uhrîsrn(rj(r(òmpison(îrnolroiJ(Vói(rlhómp(jhrphj(òpmv(
hói(ñpivsji(hórh(hói(vrjhipï(mò(jïnhr(sj(rn(mwìighsui(hm(wi(rgósiuik(rh(hói(pigiñhsui(rnkP(
hm(r(kiopiiP(rîjm(rh(hói(ñpmklghsui(îiuiîJ(dingiP(órh(ènmîikoi(vmjhîï(jigmnkrpï(jgómmî(
îiruipj(órui(kiuiîmñik(sj(jómn(rggmpksno(hm(urpsmlj(opmlñj(mò(îirpnipjJ(Xsòòipinh(hïñij(
mò(ènmîikoi(ipi(hijhik{(snhlshsui(gmvñpióinjsmnP(vihrîsnolsjhsg(ènmîikoi(rnk(hói(
ñpmklghsui(ènmîikoi(mò(gmvñîi(jïnhrghsg(jhplghlpijJ(`ijlîhj(jiiv(hm(svñîï(hórh(r(gmnL
jskiprwîi(îrgè(mò(rññpmñpsrhi(ènmîikoi(órj(wiin(skinhsûikP(sn(ñrphsglîrp(rh(hói(ñpmklgL
hsui(îiuiîJ(Uh(sj(óipi(óipi(ñpmwîivj(rpsjiP(jsngi(òmp(Rîmuini(îirpnipj(hói(jïnhr(mò(Uhrîsrn(
gmvñîi(gîrljij(sj(mwìighsuiîï(ksòûglîhJ(Uh(ñpijlññmjij(hói(jñirèipfj(rwsîshï(hm(vrjhip(hói(
jïjhiv(rnk(lji(mò(VinjijP(ósgó(rpi(ñipgisuik(rj(ñrphsglîrpîï(órpk(hm(îirpnJ(
Y@egFGH=Ç(hirgósno(Uhrîsrn(rj(r(bZ£ZHP(gmvñîiLgîrlji(jïnhrP(Rîmuinsrn(îirpnipjP(hprnjL
òipP(îiuiîj(mò(ènmîikoiJ(
lO'1X)3Z.4Y)1ZX'
Un(hói(kmvrsn(mò(òmpison(îrnolroi(hirgósnoP(hói(hirgósno(mò(gmvñîiLgîrlji(
jïnhr(sn(Uhrîsrn(jiivj(hm(órui(wiin(îrpoiîï(nioîighik(¨ôiphiîì(HMMåw{(åLKKP(KåâL
HKäJ(TmvñîiLgîrlji(jïnhrP(kiûnik(sn(Uhrîsrn(rj(=9:>A==9)H@C)B@G9FHF(mp(9BF>A==9(
mp(jsvsîrp(sj(piorpkik(sn(hósj(ñrñip(rj(gmvñpsjsno(îsnolsjhsg(jhplghlpij(gmvñmjik(
mò(r(ñpsngsñrî(rnk(mni(mp(vmpi(iñîsgsh(mp(svñîsgsh(jlwmpksnrhi(gîrljijJ(Vói(ñpmwL
îivj(jlgó(jhplghlpij(grlji(hm(îirpnipj(rpi(nmh(ìljh(rn(sjjli(òmp(hói(hirgósno(mò(
Uhrîsrnæ(hói(jrvi(mp(uipï(jsvsîrp(ñpmwîivj(gmlîk(wi(ingmlnhipik(sn(hói(hirgósno(
mò(vmjh(pmvrngi(îrnolroij(hm(Rîmuinsrn(rnk(mhóip(Rîrusg(îirpnipjJ(
Vói(ñóinmvinmn(sj(nmh(sjmîrhik{(hóipi(rpi(nlvipmljP(ñpikmvsnrnhîï(gmnhprjL
hsui(jhlksij(gmngipnsno(hói(hirgósno£îirpnsno(mò(gmvñîi(jïnhr(mò(Uhrîsrn(rnk(
Rñrnsjó(hm(Rîmuinsrn(jhlkinhj(¨Rèlwsg(KIIKæ(ôsèîsê(KIIHrP(KIIHwP(HMMçP(HMM§æ(
H§â

H§ä
^AGEA)o@G>@CE
ôsèîsê(rnk(Sëwmh(HMMK(rnk(HMMâæ(Zinrjjs(HMM§æ(òmp(Rñrnsjó(jii(ôrpèsê(HMM§(
rnk(HMMãP(mp(hm(îirpnipj(shó(r(Ripwsrn(rnk£mp(Tpmrhsrn(îsnolsjhsg(wrgèopmlnk(
¨Rrvrpkësí(HMMãæ(ômkipg(HMMçP(HMMåP(HMMãJ(Vóiï(órui(hm(rjñighj(sn(gmvvmn{(
r( Rîrusg(îirpnipj(órui(ñipjsjhinh(ksòûglîhsij(shó(hói(gómsgi(mò(hói(rññpmL
ñpsrhi(hinji(sn(jlwmpksnrhi(gîrljij(sn(ósgó(bF:bFGHA:kA)H@9)>@PB9)@)H@9)
PFH9(vljh(wi(rññîsik(rnk(hói(îirpnipj(ljlrîîï(km(nmh(muipgmvi(hói(snhipL
òipingi(shó(hóisp(vmhóip(hmnoliæ(
w( Rîrusg(îirpnipj(órui(ñipjsjhinh(ksòûglîhsij(shó(hói(lji(mò(svñîsgsh(jlwmpL
ksnrhi(gîrljij(sn(grjij(óipi(sh(sj(piúlspik{(rorsnP(hóiï(km(nmh(muipgmvi(
hói(snhipòipingi(shó(hóisp(vmhóip(hmnoli(ósgó(kmij(nmh(órui(svñîsgsh(
jlwmpksnrhi(gîrlji(mp(kmij(hm(r(uipï(îsvshik(ihinhP(rnk(hink(hm(lji(iL
ñîsgsh(jlwmpksnrhij(snjhirk(¨Rèlwsg(KIIKæ(ôsèîsê(KIIHwæ(Rrvrpkësí(HMMãæ(
Zinrjjs(HMM§J(
`ijirpgóipj( óruinfh( mwjipuik( rnï( ksòòipingi( wihiin( îirpnipj( óm( jhlkï(
Uhrîsrn(rj(hóisp(ûpjh(`mvrngi(îrnolroi(rnk(îirpnipj(óm(órui(rîpirkï(jhlksik(
rîjm(rnmhóip(`mvrngi(îrnolroi{(Rîrusg(îirpnipj(órui(hói(uipï(jrvi(snhipòipingi(
ñpmwîivj(sn(hói(`mvrngi(îrnolroi(hóiï(îirpn(¨sn(Rîmuinsrn(dsoó(Rgómmîj(hóiji(
rpi(UhrîsrnP(Rñrnsjó(mp(bpingóP(mnîï(hói(îiuiî(mò(oprvvrp(rrpinijj(óiîñj(¨sn(
prpi(grjij(hói(îirpnipj(rîpirkï(ènm(rnmhóip(`mvrngi(îrnolroi(rh(hói(îiuiî(mò(
gmvñîiLgîrlji(jïnhrJ(
Vói(ñpijinh(ñrñip(òmgljij(mn(jmvi(rjñighjP(prsjik(sn(hói(hirgósno£îirpnsno(mò(
Uhrîsrn(rj(r(jigmnk£òmpison(îrnolroi(sn(Rîmuinsrn(dsoó(RgómmîjJ(RñigsûgrîîïP(shj(
mwìighsui(sj(hm(ksjgljj(giphrsn(rjñighj(mò(hói(hirgósno(mò(UhrîsrnP(sn(ñrphsglîrp(hói(
hirgósno(mò(shj(gmvñîiLgîrlji(jïnhrP(wrjik(mn(vï(mn(hirgósno(iñipsingiP(
hóimpihsgrî(jhlksij(rnk(ivñspsgrî(rnrîïjijP(òmgljsno(mn(gmnhprjhsui(rjñighj{(
L( Uh(sj(óïñmhóijsjik(hórh(hói(vrjhipï(mò(gmvñîiLgîrlji(jïnhrP(ñrphîï(rh(pigiñL
hsui(rnk(ñrphîï(rîjm(rh(ñpmklghsui(îiuiîP(sj(jlññmjik(hm(wi(r(nigijjrpï(omrî(mò(
hirgósno£îirpnsno(Uhrîsrn(rj(r(òmpison(îrnolroi(sn(r(òmpison(gmlnhï(¨sJ(iJ(UhrîL
srn(mlhjski(UhrîïP(rj(sh(sj(sn(RîmuinsrJ(
L( Uh(sj(óïñmhóijsjik(rîjm(hórh(r(giphrsn(nlvwip(mò(hirgósno(ómlpj(hm(ósgó(r(
îirpnip(sj(iñmjik(klpsno(ósj(ómîi(ñpmgijj(mò(îirpnsno(Uhrîsrn(rj(r(bZ(jómlîk(
olrprnhii(rîjm(hórh(snhipòipingi(ñpmwîivj(sn(hói(ljroi(mò(Vinjij(sn(gmvñîiL
jïnhr(gîrljij(urnsjó(hm(r(îrpoi(ihinhP(rj(r(pijlîh(mò(gmnjgsmlj(îirpnsno(rnk(
lngmnjgsmlj(rgúlsjshsmnJ 1 (
K(
(Uh(vsoóh(rîjm(wi(snhipijhsno(hm(snuijhsorhi(hói(óïñmhóijsj(hórh(îirpnipj(rnk(hirgóipj(km(nmh(órui(
jlshrwîi( hihwmmèj( òmp( hói( hirgósno( mò( Uhrîsrn( gmvñîiLgîrlji( jïnhr( rnk( hórh( hirgóipj( mòhin(

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
Vói(ivñspsgrî(rnrîïjij(ñpijinhik(sn(hói(ñrñip(rsv(hm(wpsno(lj(gîmjip(hm(hói(
jmvi(ñmjjswîi(rnjipj(hm(hóiji(úlijhsmnj(rnk(rpi(wrjik(ñpsvrpsîï(mn(hói(hijhsno(
mò(dsoó(Rgómmî(îirpnipjP(òmgljik(mn(gmvñîi(jïnhrP(sn(ósgó(jmvi(gmnhprjhsui(
ñpmwîivj(rpsjiP(rnk(hm(r(îijjip(ihinh(mn(hói(pmîi(mò(hirgóipjf(rhhshlkij(rnk(vihóL
mkj(mò(hirgósno(gmvñîiLgîrlji(jïnhr(¨ljsno(jhplghlpik(mprî(snhipusijJ(
Un(mpkip(hm(ñlh(hói(rnrîïjij(rnk(ñmjjswîi(rnjipj(hóiï(jlooijh(sn(gmnhihP(ûpjh(
hói(úlijhsmn(mò(rghlrî(rnk(iñighik(îiuiîj(mò(rhhrsnvinh(sj(irvsnikJ(
lOlO',AnABD'oqqFKHJpx'GF'GtA'YFEEFp'-@KFzAop'LKoEAMFK}'vFK'
,opx@oxAD'
Vói(cFPPF:)]@>9bFP(lnpirî(gmvñrprhsui(gîrljij(wiîmno(hm(îiuiîj(TK(rnk£
mp(iuin(TH(¨hihwmmè(ikshsmnj(mò([lippr(rnk(mò(QîvrJ(
blphóipP(sh(sj(iîî(ènmn(hórh(vrnï(Uhrîsrn(rnk(Rîmuinsrn(hirgóipj(rnk(îrnL
olroi(hirgósno(iñiphj(rpoli(hórh(giphrsn(gmvñîiLgîrlji(jhplghlpij(rpi(ksòûglîh(
iuin(òmp(vmhóip(hmnoli(Uhrîsrnj(óm(hink(hm(rumsk(hóiv(sn(mpkip(nmh(hm(ñpmklgi(
hóiv(sngmppighîï(¨sngîlksno(jmvi(Uhrîsrn(ksrîighjs)bmp(irvñîi(hói(B@G9FHF)9BF­
>@>9bFP(óin(piòippsno(hm(hói(ñrjhP(sj(rîvmjh(rîrïj(jsvñîsûik(sn(mprî(jñiigó(rnk(
snòmpvrî(pshsno(òmp(hói(uipï(jsvñîi(pirjmn(hórh(shj(jïnhr(sj(hmm(gmvñîiJ H (
Sn(hói(mhóip(órnkP(lnhsî(piginhîï(sn(Rîmuinsrn(dsoó(Rgómmîj(¨îirpnipj(sn(hói(
roi( mò( rññpmJ( KåLKI( ïirpj( hói( usi( hórh( ACC) ;GAPPA>9bAC) =>G

^AGEA)o@G>@CE
TYb 3 (rnk(vrnïP(hómloó(nmh(rîî(hirgóipj(jlññmph(hói(skirJ(Tlpppinhîï(rh(hói(®vrhL
lprf(¨jhrhi(ihipnrî(irv(sn(Uhrîsrn(rj(bZ(rh(hói(ink(mò(dsoó(RgómmîP(shó(îiruipj(
mò(KI(ïirpj(rññpmJ(rnk(ròhip(§åMLIMM(ómlpj(mò(UhrîsrnP(r(ñpmklghsui(îiuiî(¨nmh(
mnîï( sn( îsjhinsno( rnk( pirksno( gmvñpióinjsmn( mò( rîî( oprvvrhsgrî( jhplghlpij( sn(
Uhrîsrn(¨iJoJ(rîjm(rîî(òmlp(Uhrîsrn(jlwìlnghsuij(rj(iñighik(sn(oprvvrp(hijhsno(
rnk(sn(ijjrïjJ(
VóipiòmpiP(Rîmuinsrn(hirgóipj(óm(hrèi(jlgó(rvwshsmlj(omrîj(rj(r(górîîinoiP(
rnk(rîjm(hómji(óm(ñpiòip(hm(rwrnkmn(hóiv(¨mp(rh(îirjh(hm(ksòòipinhsrhi(hóiv(vmpi(
ñpigsjiîï(rggmpksno(hm(ksòòipinh(glppsglîr(wrjik(mn(ksòòipinh(nlvwip(mò(hirgósno(
ómlpj(rpi(kspighîï(gmngipnik(shó(hói(hirgósno(rnk(îirpnsno(mò(gmvñîiLgîrlji(
jhplghlpijJ(
lOmO'/FEA'voqGFKD'Jp'GtA'AszBJqJG'GAoqtJpx'Fv'1GoBJop'qFEzBAsÅqBo@DA'
DrpGos'GF'/BFnApJop'BAoKpAKD'
©óin(hói(¨iñîsgsh(mp(svñîsgsh(hirgósno(mò(Uhrîsrn(gmvñîiLgîrlji(jïnhr(sj(
ñîrnnikP(hóipi(rpi(jiuiprî(rjñighj(hm(wi(gmnjskipikJ(Qj(sh(grn(wi(jiin(òpmv(Fig.(Å(
hóipi(rpi(jiuiprî(òrghmpj(sn¿lingsno(hói(îirpnipjf(rhhshlki(hmrpkj(gmvñîiLgîrlji(
jïnhr( rnk( gmnjiúlinhîï( rîjm( hói( îiuiî( mò( gmvñihingi( hóiï( rhhrsnJ 4 ( Rmvi( òrgL
hmpj(rpi(ñpijinhik(mnîï(wpsi¿ï(òlphóip(mn(¨hói(Uhrîsrn(îrnolroi(shjiîòP(îirpnipj(sn(
urpsmlj(jgómmîjP(oprvvrpj(rnk(hihwmmèjP(jmvi(sîî(wi(ñpijinhik(sn(vmpi(kihrsî(
¨pmîi(mò(ñmjshsui£niorhsui(hprnjòip(rnk(mò(hirgóipjP(hómloó(rîî(rpi(piorpkik(rj(èiï(
ñmsnhj(sn(hói(ñpmgijj(mò(hirgósno£îirpnsno(gmvñîiLgîrlji(jïnhrJ(
ç( ( Vósj(ñmsnh(mò(usi(órj(wiin(górnosno(piginhîïP(ijñigsrîîï(ròhip(Rîmuinsr(ìmsnik(hói(Y\J(Vósj(
ñmîshsgrî(pirjmn(kmij(nmh(jrhsjòï(rîî(dsoó(Rgómmî(hirgóipj{(vrnï(wiîsiui(hórh(hói(rhhrsnvinh(îiuiîj(
mò(jgómmî(îiruipj(óm(îirpn(Uhrîsrn(rj(bZ(sîî(òrîî(lnnigijjrpsîïJ(
§(
(Rmvi(îirpnipj(km(nmh(ñipgisui(rnï(niik(hm(vrjhip(gmvñîi(gîrljij(rh(rîîP(jmvi(rpi(órññï(shó(
ñrjjsui(lnkipjhrnksno(mò(jïnhrghsgrîîï(gmvñîi(gîrljij(sn(hihjP(mhóipj(rsv(hm(vrjhip(hóiv(rh(
ñpmklghsui(îiuiî{(hóiï(niik(hm(óm(hm(gómmji(hói(psoóh(ñrhhipn(rnk(óm(hm(òmpv(sh(sn(r(ñpmñip(
¨ljlrîîï(pshhin(gmvvlnsgrhsmnJ(
HåM

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
cZoO8]§)awÄ[T§)1)9>=)[]Tct`Äj)A:H)8]ThÄ`Äj)A=)A)OhZc]aa
˘( ( ˙
0Z)b-3')ZX`4-
˚(
(˚(
)-_)+ZZ{/
,-*3X-3/'
¬tAKA'opH'pFMÄ'
oD'v@G@KA'AH@qoGAH'ABJGA'
˙( )-*Yb-3/
¸
1)*,1*X'per se'
opH'
oD' o' DAqFpH' (' vFKAJxp'
Bopx@oxA
˘
/YbZZ,/
bJxt'/qtFFBD'nDO'
[FqoGJFpoB'/qtFFBD'
˘(( ( ˙
)
¸
`3*00*3/
oTa[]hw)Zv)awÄ[T§)A=)A)OhZ^¥c[)Zv)[]Tct`Äj)S)8]ThÄ`Äj
bsoJ(K{((Qjñighj(hm(wi(gmnjskipik(sn(iñîsgsh(hirgósno(mò(Uhrîsrn(gmvñîiLgîrlji(
jïnhr
Vói(ûpjh(òrghmp(sj(hói(Uhrîsrn(îrnolroi(shjiîò{(i(jórîî(îmmè(rh(jmvi(irvñîij(
òpmv(urpsmlj(rlhóinhsg(Uhrîsrn(hih(hïñij(óipi(gmvñîiLgîrlji(jïnhr(sj(nrhlL
prîîï(ljik{(
Unjhplghsmnj(òmp(lji(¨òmp(r(vrèiLlñ(ñpmklgh{(
ÅAn)`>ACs)o@>>9)CIFPfG@>>F)B9Â)=b9>Al´))
m^P)àån)
Åfn)]:;Cs)O)=FP@)@e@r=JAHFg):@AG)>J@)@e@CA=J@=))
C9:@)Fi)B@:b9Cl)´)
bFP@)=@)vZaa]))WERE)A)>J9bR)
Tmvvinhj(rwmlh(r(ñmhinhsrî(îmhhipï(snnip{(
HåK

HåH
^AGEA)o@G>@CE
ÉAn)`>ACs)ƒcJ@)f@CCF)sarebbe)1)f>A)9k9F)1)) ) =@)9C)iFG>F)FOSSE))
) ) ) ) ) ) ) A)fC)would be)1)A);J@)CACs)v9:F)A)BFbF)>@PBF)iAl)) A)bJ9)P9)avesse chiesto))) =@)ero)bF:>@:>F)
) ) ) ) ) ) ) ) H9)@==@G@)=9:;C@)
avrei risposto)bF:)FG;F;C9F)GFPA:>9bF)
bJ@)9C)P9F)@;F)basta)A)G9@PB9G@)CI9:>@GF)PF:HFs)mj9F)°Én)
áfn)]:;Cs)¥:>9C)G@b@:>Cel)) 9i)=FP@F:@)had asked)P@)) 9i) `) was) JABBe)
) ) ) ) ) ) ) ) >F)f@)=9:;C@)
`)would have answered)g9>J)A)GFPA:>9b)BG9H@)
>JA>)Pe)@;F)9=)@:FF){CC)>J@)@:>9G@)gFGCHs)
Rlgó( irvñîij( òpmv( iuipkrï( jñiigó å ( rpi( jsonsûgrnhæ( hóiï( rpi( irvñîij( mò(
gmvñîiLgîrlji(jïnhr(òpmv(iuipïkrï(jñiigó(rnk(sngîlki(r(jigmnk(gmnkshsmnrî(
gîrlji( ¨UhrîJ( B@G9FHF) 9BF>@>9bF) H@CCA) BF==9f9C9>eP( rn( lnpirî( gmvñrprhsui( gîrlji(
¨UhrîJ(bFPBAGA>9QA)9GG@AC@(rnk(r(jipsij(mò(ksòòipinh(èsnkj(mò(jlwmpksnrhi(gîrljij(
¨sngîlksno(piîrhsui(rnk(gmnhinh(gîrljijP(iGA=@)G@CA>9QAl)iGA=@)9:>@GGF;A>9QA)9:H9­
G@>>Al)iGA=@)F;;@>>9QA)sn(UhrîsrnJ(Rlgó(irvñîij(rpi(iuin(vmpi(òpiúlinh(sn(îshiprpï(
hihj(¨ôiphiîì(HMMåw{(§äLI§ ã , â (
Un( rnï( grjiP( hói( isjhingi( mò( jlgó( gmvñîiLgîrlji( ñrhhipnj( grnnmhP( sn( vï(
mñsnsmnP ä (wi(sonmpikæ(sh(sj(gmlnhipLñpmklghsui(hm(sjó(hóiv(rrïP(jsngi(hóiï(rpi(
piîiurnh(hm(îirpnipj(nmh(mnîï(wigrlji(mò(hóisp(òpiúlingï(mò(mgglppingi(wlh(rîjm(
å( ( Vóiji(irvñîij(rpi(hrèin(òpmv(cFGG9@G@)H@CCA)a@GA)mcFGnl)j9F9A)mj9Fnl)^F::A)PFH@G:A)m^Pns)
blphóip(irvñîij(grn(irjsîï(wi(òmlnk(sn(vrnï(krsîï(nijñrñipj(rnk(urpsmlj(vrorsnijJ(
ã( ( Qîhómloó( U( órui( ljik( hói( mpk( ®òpiúlinhfP( sh( vljh( wi( pigmonsjik( hórh( jlgó( gmvñîiLgîrlji(
jhplghlpij(sn(Uhrîsrn(grnnmh(wi(piorpkik(rj(J9;JCe(òpiúlinhP(óihóip(sn(îshiprpï(mp(sn(nmnLîshiprpï(
hihj(¨ôiphiîì(HMMåw{(§äLI§J(
â(
(Qîhómloó( jmvi( iñiphj( vsoóh( wiîsiui( hórh( Uhrîsrn( sj( îirpnh( sn( mpkip( hm( pirk( îshiprpï( hihjP( r(
piopihhrwîi(mwjipurhsmn(vljh(wi(rkkik(óipi{(Rîmuinsrn(dsoó(Rgómmî(îirpnipj(km(nmh(îirpn(Uhrîsrn(
sn(mpkip(hm(pirk(îshiprpï(hihjJ(Un(rn(snòmpvrî(jlpuiï(¨nmh(ïih(ñlwîsjóik(sh(rj(òmlnk(mlh(hórh(
îshiprpï(hihj(rpi(nmh(wpmloóh(snhm(r(gîrjjpmmv(mò(Uhrîsrn(rj(ZRP(ishóip(wï(hirgóipj(mp(wï(îirpnipj(
hóivjiîuijP(igiñh(óin(ñpiñrpsno(òmp(hói(®vrhlprf(ihipnrî(jhrhi(irvJ(
ä( ( Uh( sj( nmh( jròi( hm( oiniprîsji( hórh( sn( `mvrngi( îrnolroij( gmvñîiLgîrlji( jïnhr( mgglpj( vmpi(
nrhlprîîï(rnk(vmpi(òpiúlinhîï(hórnP(òmp(snjhrngiP(sn([ipvrnsg(îrnolroij(¨ósgó(rpi(vmjh(skiîï(
hrloóh( rj( òmpison( îrnolroij( sn( RîmuinsrJ( alh( sn( Uhrîsrn( ¨ôiphiîì( HMMåw{( I§( gmvñîiLgîrlji(
jïnhr(sj(ljik(òpiúlinhîï(inmloó(òmp(sh(nmh(wi(sonmpik(wï(iñiphj(sn(hirgósno£îirpnsno(Uhrîsrn(rj(
bZ(£(ZHP(wï(hihwmmè(pshipj(mp(wï(glppsglîlv(ñîrnnipjJ(

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
wigrlji(jlgó(gmvñîiLgîrlji(jïnhrghsg(jhplghlpij(vrï(ñpmuski(jsonsûgrnh(gîlij(
òmp(lnkipjhrnksno(ksjgmlpjiP(rj(hóiï(rpi(mòhin(ljik(hm(gmnuiï(r(jñirèipfj(mñsnsmn(
¨rj(sn(hói(irvñîij(rwmuiJ I (
Qnmhóip(svñmphrnh(òrghmp(sj(hói(urpsmlj(jgómmî(inuspmnvinhj(¨ksòòipinh(hïñij(
mò(jgómmîP(ñpsvrpï(rnk(jigmnkrpï(îiuiîjP(rklîhj(sn(ñpsurhi(jgómmîj(ósgó(sn¿lL
ingi(r(kigsjsmn(mn(óm(vlgó(rnk(óm(gmvñîiLgîrlji(jïnhr(jómlîk(wi(hrloóhJ(
Un(hósj(jhlkïP(i(mñhik(hm(hijh(ñpikmvsnrnhîï(dsoó(Rgómmî(îirpnipj(¨mhóip(hrpoih(
opmlñj(rpi(nmh(gmnjskipik(sn(hósj(ñrñipP(sn(ñrphsglîrp(rj(hóiï(rpi(òlhlpi(lnsuipjshï(
jhlkinhj(rnk(ñrph(mò(hói(òlhlpi(iklgrhik(iîshi(8(hói(hirgósno(mò(jïnhr(hm(hóiv(
vsoóh(wi(r(vrhhip(mò(hói(hirgóipfj(pijñmnjswsîshïJ(
Un(r(nlhjóiîîP(hói(ñmsnh(mò(usi(mò(r(dsoó(Rgómmî(hirgóip(gmlîk(wi(jlvvik(
lñ(sn(hói(òmîîmsno(hm(úlijhsmnj(^F)C@AG:@G=)R:Fg)>J@e):@@H)bFPBC@ñrbCAAñu(rnk£mp(^F)>J@)>@AbJ@G=)R:Fg)>J@e):@@H)9>u)¨gòJ(ôiphiîì(HMMår{(§§LåKJ(
Un(wmhó(grjij(gmvñîiLgîrlji(jïnhr(rnk(hirgóipjf(kigsjsmnj(gmvi(snhm(ñîrïP(òmp(
irvñîi(r(ñpigmnkshsmn(òmp(r(kigsjsmn(hm(sngîlki(iñîsgsh(hirgósno(mò(gmvñîiL
gîrlji(jïnhr(sj(r(hirgóipfj(mn(îsnolsjhsg(rrpinijj{(sò(r(hirgóip(wiîsiuij(hórh(ACC)
;GAPPAG)=>G

^AGEA)o@G>@CE
mO'0*ûZ3'.1LL1Y4,)1-/'~1)b'YZ0a,-_ÅY,*4/-'/5X)*_'LZ3'
/,Z[-X1*X',-*3X-3/'
Hå§
mOlO'.JDqKAzopqJAD'Jp'GtA'@DoxA'Fv')ApDADk'JpGAKvAKApqA'MJGt'/BFnApJop'
bmp(Rîmuinsrn(îirpnipjP(Uhrîsrn(gmvñîiLgîrlji(jïnhr(sj(ksòûglîh(ñrphsglîrpîï(
òpmv(hói(ñmsnh(mò(usi(mò(lji(mò(VinjijJ(Un(mlp(vmhóip(hmnoli(hóipi(rpi(å(Vinjij(
¨¡(H(nmnLûnshi(òmpvj(Õ(âP(óipirj(sn(Uhrîsrn(hóipi(rpi(Kå(¨¡(ã(nmnLûnshi(òmpvj(
Õ(HK(ljik(sn(ksòòipinh(jïnhrghsg(jhplghlpij(¨jii(v9;s)ÉJ(Vósj(ksjgpiñrngï(grljij(
r(ósoó(kiopii(mò(kmlwh(rwmlh(óm(hm(kirî(shó(hói(psgónijj(mò(iñpijjsmn(vrki(
ñmjjswîi(wï(hói(nlvwip(mò(Vinjij(sn(UhrîsrnJ(
1GoBJop')ApDAD'' ' ' '' ' /BFnApJop')ApDAD
KJ( ^p(8(sî(ñpijinhi(( (( ˝(( rnk(( Õ(( KJ(jikrnìsè(¨®ñpijinhf
HJ( b(8(sî(òlhlpm(((( ( ˝(( rnk(( Õ(( HJ(ñpsómknìsè(¨®òlhlpif
çJ( T(8(sî(gmnkssmnrîi(( ( ˝(( rnk(( Õ(( çJ(ñmomìnsè((
( ( ( ( ( ( ( ¨®gmnkshsmnrîf
§J( ^^(8(sî(ñrjjrhm(ñpmjjsvm(( ˝(( rnk(( Õ(( §J(ñpihièîsè(¨®ñrjhf
åJ( Uô^(8(îfsvñiprhsum(( ( ˝(( rnk(( Õ(( åJ(uiîiînsè(¨®svñiprhsuif
ãJ( Uô(8(îfsvñipòihhm(( ( ( ( ¬
âJ( V^(8(sî(hprñrjjrhm(( (( ( ( ¬
äJ( bb(8(sî(òlhlpm(gmvñmjhm(( ( ( ¬
IJ( TT(8(sî(gmnkssmnrîi(gmvñmjhm(( ( ¬
KMJ( ^pf(8(sî(ñpijinhi(gmnoJ(( ( ( ¬
KKJ( ^^f(8(sî(ñrjjrhm(gmnoJ((( ( ( ¬
KHJ( Uôf(8(îfsvñipòihhm(gmnoJ(( ( ( ¬
KçJ( V^f(8(sî(hprñrjjrhm(gmnoJ(( ( ( ¬
K§J( ^`(8(sî(ñrjjrhm(pivmhm(( ( ( ¬
KåJ( V`(8(sî(hprñrjjrhm(pivmhm(( ( ( ¬
KãJ( UnòJU(8(îfsnûnshm(( ( ˝(( rnk(( Õ( ãJ(nikmîmênsè((
( ( ( ( ( ( ( ¨®snûnshsuif
KâJ( UnòJUU(8(îfsnûnshm(gmvñmjhm(( ( ( ¬
KäJ( [ipJU(8(sî(oiplnksm(( ( ( ( ¬
KIJ( [ipJUU(8(sî(oiplnksm(gmvñmjhm((( ¬
HMJ( ^rphJU(8(sî(ñrphsgsñsm(ñpijinhi(((˝(( rnk(( Õ( âJ(kiîiënsè((
( ( ( ( ( ( ( ¨®ñrphsgsñîif
HKJ( ^rphJUU(8(sî(ñrphsgsñsm(ñrjjrhm(( ( ¬
Qj(sn(hói(v9;s)É(Uhrîsrn(rnk(Rîmuinsrn(Vinjij(rpi(ñpijinhik(shómlh(r(ksjgljL
jsmn(rwmlh(piîrhsmn(wihiin(hinji(rnk(vmmkP KH (hói(òmîîmsno(irvñîij(¨§rwgkiP(
KH( (Vóipi(rpi(ksòòipinh(usij(mn(hói(piîrhsmnjósñ(wihiin(hinji(rnk(vmmkJ(bmp(irvñîi(sj(hói(i

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
årwgP(ä(rnk(I(ósoóîsoóh(hói(ksòûglîhsij(Rîmuinsrn(îirpnipj(órui(piorpksno(jmvi(
ñpmwîivrhsg(jhplghlpij(ksjgljjik(sn(hósj(ñrñipJ(Vóiï(vsoóh(wi(piorpkik(rj(ñpmwL
îivrhsg(rîjm(òpmv(rn(®Uhrîsrnf(ñmsnh(mò(usi(¨wigrlji(mò(hóisp(piîrhsui(snòpiúlingï(
rnk(hói(sngmnjsjhingï(sn(hóisp(ljiP(wlh(nm(îijj(ñpmwîivrhsg(sj(hói(òrgh(hórh(Rîmuini(
îirpnipj(hink(hm(òmîîmP(kli(hm(hóisp(Rîrusg(îsnolsjhsg(wrgèopmlnkP(hói(jrvi(ñpsngsL
ñîij(mò(ljroi(rj(sn(hóisp(vmhóip(hmnoli(óin(jhplghlpsno(Uhrîsrn(gmvñîi(gîrljij(
¨gòJ(rîjm(ôsèîsê(HMMç(rnk(HMM§æ(ôsèîsê(rnk(Sëwmh(HMMâæ(ôiphiîì(HMMåw{(IåLKMåJ(
Yrvñîij(§(rnk(å(jóm(ksòòipinh(ljij(mò(Vinjij(sn(hói(jrvi(hïñij(mò(jlwmpksL
nrhi(gîrljij(sn(Rîmuini(rnk(UhrîsrnP(jómsno(hói(ksòòipinh(ñpsngsñîij(ósgó(omuipn(
hói(gómsgi(mò(Vinji(sn(irgó(îrnolroiJ(Q(Rîmuinsrn(lnpirî(gmnkshsmnrî(gîrlji(grn(
wi(ljik(shó(piòipingi(hm(hói(ñpijinh(mp(hm(hói(ñrjh(¨rnk(rîjm(r(gmvwsnrhsmn(mò(hói(
hm(jñóipij(sj(ñmjjswîiæ(gmnjiúlinhîïP(sh(órj(PFG@)>JA:)F:@(ñmjjswîi(iúlsurîinh(
sn(UhrîsrnP(kiñinksno(mn(óihóip(i(rnh(hm(iñpijj(r(gmnkshsmn(rnk(r(gmnjiL
úlingi(òmp(jmvihósno(hórh(jhsîî(vsoóh(órññin(¨§rP(‹§wP(§g(mp(r(piopih(hórh(hóiji(
hm(rpi(nm(îmnoip(ñmjjswîiP(rj(wmhó(piòip(hm(hói(ñrjh(¨‹§kP(§iJ(
âAn)aCFQs)) Ê@)) f9);A)QBGAWACl)) ) f9)>9)FH;FQFG9Cs)
) ) `i)) eF9)) >9)G9=BF:H@G@ff@s)
âbn)`>ACs)) a@)) ;C9@CF)bJ9@H@==9))>9)G9=BF:H@G@ff@s)
Z3'
) ) `i)) eF9)) >9)pG9=BF:H@G@ff@s)
â@n)`>ACs)) a@)) ;C9@CF)AQ@==9)bJ9@=>F)) >9)AQG@ff@)G9=BF=>Fs)
Vói(ñpsngsñîij(mò(Vinji(lji(sn(RîmuinsrnP(rññîsik(hm(Uhrîsrn(gîrljij(grlji(snL
hipòipingi{( hósj( niorhsui( hprnjòip( vigórnsjv( mlîk( mgglp( òmp( irvñîi( rîjm( sn(
lnpirî(gmvñrprhsui(gîrljij(¨årP(‹åwP(ågP(óipi(r(Rîmuinsrn(îirpnip(grn(vrèi(
rîjm(rn(ippmnimlj(gómsgi(mò(gmnnighsui(¨‹gmvi(gói(Q=s(gmvi(ji{(
°An)aCFQs)) jC@HAC)P@)E@l)) RF>)HA)) ) P@):@)GAkACsù)) o9);ACs)) o9);A;:A)?I@=>A>@s(¨Uhrîsrnj(hink(hm(lji(prhóip(VAHF)9:)PF:>A;:A)?I@=>A>@sn(ujJ(aAGA::F)
C@)H

^AGEA)o@G>@CE
KIIHwæ(ôsèîsê(rnk(Sëwmh(HMMâP(ôiphiîì(HMMåw{(KMãLKçäJ(Vói(jhplghlprî(ksuipL
oingij(wihiin(Uhrîsrn(îrnolroi(rnk(Rîmuinsrn(rj(hói(îirpnipjf(vmhóip(hmnoli(
jhpmnoîï(ròòigh(hóisp(îirpnsno(rnk(hóisp(rwsîshï(hm(vrjhip(gmvñîiLgîrlji(jïnhrJ(
[iniprîîïP(sn(mlhîsniP(r(îirpnipfj(gmvñihingi(jómlîk(gmnjsjh(mò(ènmîikoi(mò(
r(óm(gîrljij(rpi(gmnjhplghikP(sngîlksno(jlwmpksnrhi(gîrljij(mò(urpsmlj(hïñijæ(w(
gmnnighsuijæ(g(lji(mò(rññpmñpsrhi(VinjijP(sn(ñpsngsñrî(rnk(jlwmpksnrhi(gîrljijæ(
k(hói(snhippiîrhsmnjósñ(mò(gîrljij(sn(r(hihæ(i(mhóip(òrghmpj(¨jlgó(rj(îisjP(ingïL
gîmñriksg(ènmîikoiJ(Un(rnï(iuinhP(bFPBC@ñ)R:FgC@H;@(sj(nigijjrpïæ(hói(sjjli(
sj(ósgó(jïnhrghsg(jhplghlpij(jómlîk(wi(hrloóhP(rh(ósgó(îiuiî(sn(hói(prnoi(QKLTH(
¨gòJ(Zm(Xlgr(HMMãP(rnk(ósgó(rh(r(pigiñhsui(rnk(ósgó(rh(r(ñpmklghsui(îiuiîJ(
Qj(mni(mò(hói(vrìmp(gmngipnj(órj(wiin(hm(ûnk(mlh(hm(órh(ihinh(Rîmuinsrn(
dsoó(Rgómmî(îirpnipj(vrnroi(hm(muipgmvi(hói(niorhsui(hprnjòip(rnk£mp(rpi(jlgL
gijjòlî(sn(rññîïsno(oprvvrp£jïnhrghsg(plîij(¨rj(gmnjgsmlj(ènmîikoi(mp(snhlsL
hsuiîï(rgúlspik(ènmîikoi(mò(UhrîsrnP(hói(vmjh(ñiphsninh(grjij(rpi(ñpijinhik(wiL
îmJ(
Håã
mOmO')ADGJpx'Fv'bJxt'/qtFFB'BAoKpAKD'
Vói(nih(hópii(ûolpij(¨çP(§P(å(ñpijinh(jmvi(mò(hói(pijlîhj(mwhrsnik(wï(hijhL
sno(jigmnkrpï£oprvvrp(jgómmî(îirpnipjf(vrjhipï(mò(gmvñîiLgîrlji(jïnhrJ(Vói(
pijlîhj(jóm(hói(ñpmklghsui(îiuiî(mò(ènmîikoiP(virjlpik(wï(ljsno(ósoóîï(olskik(
ñpmklghsui(hrjèj(¨îirpnipj(órk(hm(hprnjîrhi(òpmv(Rîmuinsrn(snhm(UhrîsrnJ(bmp(iL
rvñîiP(r(pirî(gmnkshsmnrî(gîrlji(¨K st (gmnkshsmnrî(shó(hói(gmnìlnghsmn(ê=@I(rj(
mññmjik(hm(hói(gmnhinh(gîrlji(¨snkspigh(úlijhsmn(shó(ê=@IÇ)
`irî(gmnkshsmnrî(gîrlji(¨K st (gmnkshsmnrî(shó(hói(gmnìlnghsmn(ê=@I(¨Q(sn(hói(v9;s)á(
Ñn)Ê@)E@)O@>@G)HFPAl))
E@)oAGRF)k@CF)kAHFQFCE@:s)ß)
a@)O9@>GF)d)A)bA=Al)oAGbF)d)PFC>F)bF:>@:>Fs)
`i)O@>@G)9=)A>)JFP@l))
oAGRF)9=)Q@Ge)JABBes)
Tmnhinh(gîrlji(shó(r(ê=@I(¨a(sn(hói(v9;s)á
àn)oAGRF)QBGAWA)T:Fl)) AC9)E@)O@>@G)HFPAs)) ß)) oAGbF)HFPA:HA)AH))
) ) ) ) ) ) ) T::A)=@)O9@GF)d)A)bA=As)
oAGRF)A=R=)T:A)) 9i)S)gJ@>J@G)O@>@G)9=)A>)JFP@s)
bmp(vmjh(îirpnipjP(óm(órk(ìljh(gmvñîihik(hóisp(hóspk(ïirp(mò(îirpnsno(Uhrîsrn(
sn(r(dsoó(RgómmîP(hósj(rj(r(jsvñîi(hrjè(8(hóiï(jómik(piîrhsuiîï(ommk(ñpmklgL
hsui(îiuiîP(rh(îirjh(åM(«(sn(vmjh(gîrjjij(¨rn(igiñhsmn(rj(r(dsoó(Rgómmî(òpmv(
ZìlwîìrnrJ(

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
Un(hói(rnrîïjij(¨jmvi(pijlîhj(rpi(ñpijinhik(wï(v9;s)ál)rnk(rîjm(sn(v9;s)â(rnk(
v9;s)°(r(ksjhsnghsmn(rj(vrki(wihiin(dsoó(Rgómmî(îirpnipj(òpmv(hói(Uhrîsrn(
®wmpkipf(rnk(®nmnLwmpkipf(rpirj(mò(Rîmuinsr{(hói(®wmpkipf(rpir(gmvñpsjik(hói(mòûL
gsrîîï(wsîsnolrî(RîmuiniLUhrîsrn(hippshmpï(mò(Rîmuinsr(mn(hói(gmrjh(rj(iîî(rj(jmvi(
rpirj(gîmji(hm(Uhrîsrn(wmpkip(óipi(îirpnipj(opm(lñ(shó(hói(ñpijingi£sn¿lingi(
mò(Uhrîsrn(îrnolroi(rîjm(mlhjski(jgómmîP(rnk(hói(®nmnLwmpkipf(rpir(ñrphj(mò(hói(
`iñlwîsg(mò(Rîmuinsr(òlphóip(rrï(òpmv(hói(Uhrîsrn(wmpkipP(óipi(îirpnipj(km(nmh(
órui(jlgó(ñmjjswsîshsij(¨gòJ(ôiphiîì(HMMåw{(KMâLKçäJ(
Q(oiniprî(iñighrhsmn(rj(hórh(hói(îiuiîj(mò(ñpmklghsui(vrjhipï(mlîk(wi(ksòL
òipinh{(hói(®wmpkipf(rpir(îirpnipj(mlîk(jmîui(hói(hijhj(wihhip(mn(hói(wrjsj(mò(hóisp(
rgúlspik(gmvvrnk(mò(hói(îrnolroi(¨mlhjski(jgómmî(rnk(mlîk(rîjm(jóm(r(îmip(
kiopii(mò(niorhsui(hprnjòip(¨snhipòipingi(sn(hóisp(gmvvrnk(mò(UhrîsrnJ(
,-`-X.k'' HoK}AK'qFBF@KD'ƒÅ'¿pFpÅyFKHAK'DqtFFBD'' BJxtGAK' qFÅ
BF@KD''Å'¿yFKHAK'DqtFFBD'
100
90
80
70
60
50
40
30
20
10
0
50
80 80 80 80 80 80
(A) conditional "se"
25
(B) reported question "se"
LJ. ­ VIC
TOLMIN
AJDOVSCINA
SEZANA
bsoJ(ç{((Vm(ksòòipinh(jïnhrghsg(òlnghsmnj(mò(¥jiø{
¨Q(pirî(gmnkshsmnrî(gîrlji(¨K st (hïñi(ujJ(¨a(piñmphik(úlijhsmn(snhpmklgik(wï(®jifJ
Qj(sh(grn(wi(mwjipuik(sn(v9;s)áP(jlgó(r(jsvñîi(gîrlji(rnk(rn(snkspigh(ïij£nm(
úlijhsmn(ksk(nmh(grlji(vlgó(hpmlwîi(hm(îirpnipj(òpmv(®wmpkipf(jgómmîj(¨îirpnipj(
shó(r(piîrhsuiîï(ommk(gmvvrnk(mò(îrnolroi(kli(hm(hóisp(òpiúlinh(gmnhrgh(shó(
hói(îrnolroi(rj(îsusno(nirp(hói(wmpkip(shó(UhrîïJ(Vói(îirpnipj(òpmv(®nmnLwmpkipf(
jgómmîj(ipi(îijj(jlggijjòlî{(sò(hóiï(vrnroik(hm(òmpv(hói(uipwP(hóiï(òrsîik(hm(ûnk(
Håâ

^AGEA)o@G>@CE
hói(psoóh(gmnnighsuiJ(Un(hósj(grji(ñmjshsui(hprnjòip(gmlîk(óiîñ(rj(hóipi(rpi(®nirp(
ñrprîîiîjf(óipi(sn(hói(lji(mò(Vinjij(sn(Rîmuinsrn(rnk(UhrîsrnJ(
dmiuipP(óin(sh(gmvij(hm(hói(ñrjh(jñóipiP(óipi(hprnjòip(òpmv(Rîmuinsrn(
sn(hipvj(mò(Vinji(gómsgi(grn(nmh(wi(ñmjshsuiP(hói(pijlîhj(ipi(iñighik(hm(wi(ksòL
òipinh(sn(®wmpkipf(rnk(®nmnLwmpkipf(jgómmîjP(wlh(:F>(ksjrññmsnhsno(rîî(pmlnkJ(Vói(
irvñîij(ä(rnk(I(¨jii(rîjm(v9;s)â)rnk(v9;s)°(ipi(hmm(ksòûglîh(rj(hói(îirpnL
ipj(órk(hm(muipgmvi(r(niorhsui(hprnjòip(òpmv(RîmuinsrnJ(Vóiï(órk(hm(hprnjîrhi(r(
gmnhinh(gîrlji(shó(®=@I)piòippik(hm(hói(^rjhP(hóipiòmpi(sn(r(jlwmpksnrhi(gîrlji(r(
jiúlingi(mò(Vinjij(rnk(ômmkj(órk(hm(wi(mwjipuikP(rnk(sn(hói(jigmnk(gmnkshsmnrî(
¨nmh( piòippik( hm( hói( ñrjh( hóiï( ipi( iñighik( hm( rññîï( hói( lji( mò( bF:;99QF)
H@CCI9PB@Gi@>>F(sn(hói(ñpmhrjsj(mò(hói(B@G9FHF)9BF>@>9bFJ(
Tmnhinh(gîrlji(shó(®jifP(ósgó(piòippik(hm(hói(^rjh(
8) aCFQs)) aBGAW@QAC)=@P)=@l)) c9'43'fFCA:)AC9)C@)k@CF)GACs)ß))o9)HFPA:HAQF))) se eri / fossi PACA>F)F)=FCF)PFC>F)=>A:bFs)
]:;Cs) `)gA=)gF:H@G9:;)) if)eF9G@Hs)
Vói(pijlîhj(jóm(hói(kmvsnrngi(¨sn(îrnolroi(snhipòipingi(mò(Rîmuinsrn(ñpsnL
gsñîij(mò(ljroi(muip(hói(Uhrîsrn(bF:=@b9F)>@PBFG

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
,-`-X.k'' HoK}AK'qFBF@KD'ƒÅ'¿pFpÅyFKHAK'DqtFFBD'' ' BJxtGÅ
AK'qFBF@KD''Å'¿yFKHAK'DqtFFBD'
100
90
80
70
60
50
40
30
20
10
0
30
5 5
15
10
Lj. ­ VIC
TOLMIN
LJ. ­ PLECNIK
AJDOVSCINA
SEZANA
NOVA GORICA
bsoJ(§{(( Unkspigh(úlijhsmn(snhpmklgik(wï(®jifP(piòippik(hm(hói(^rjh
Vói(îrjh(irvñîi(rj(rn(lnpirî(gmnkshsmnrî(shó(®=@I(¨H nk (gmnkshsmnrîJ(Un(RîmL
uinsrn(sn(wmhó(ñrphj(mò(hói(gîrlji(¨shJ(B@G9FHF)9BF>@>9bF)H@CCA)BF==9fC9>©(r(®jsvñîif(
gmnkshsmnrî(¨OF;FE:9R)sn(Rîmuini(sj(ljikP(jm(sn(hósj(grji(hói(îirpnipj(gmlîk(piîï(mn(r(
ñmjshsui(hprnjòip(sn(hói(vrsn(gîrlji(¨shJ(îfrñmkmjsP(îr(piooinhiP(wlh(órk(hm(muipgmvi(
hói(niorhsui(hprnjòip(sn(hói(jlwmpksnrhi(gîrlji(¨shJ(îr(ñpmhrjsP(îr(jlwmpksnrhr{(
\npirî(gmnkshsmnrî(shó(®=@I(¨H nk (gmnkshsmnrî(
9) ) aCFQs)) d9'T3'T356'6[65e9)PA:E)F:@=:A@:Fl)) bi lahko pili) QFHF) 9k)
Q=@J)=>ACs)ß))Se l’ambiente fosse P@:F)9:?F)) potremmo bere) CIAb­
?>@)C@)=FG;@:>9s)
]:;Cs)) If the environment was)C@==)BFCC@H) g@) could drink) gA>@G)
iGFP)A:e)=BG9:;s)
dipi(¨jii(v9;s)°n)hói(grji(mò(hói(Vmîvsn([prvvrp(jgómmî(sj(snhipijhsno(rorsn{(
hói(hirgóip(snjhplghik(ósj(îirpnipj(:F>)hm(rhhivñh(hói(gmnkshsmnrî(gîrljij(sn(hói(
hijhP(rj(hóiï(órk(nmh(îirpnik(hórh(ïihP(rnk(mlhvmjh(îirpnipj(mwiïik(¨ôiphiîì(HMMåw{(
KHMLKçãP(rîhómloó(hóiï(gmlîk(órui(ljik(hói(=AP@(uipwrî(òmpv(iF==@(rj(sn(hói(
ñpiusmlj(gîrlji 13 (
13( (Vósj(sj(rn(igiîîinh(grji(hm(mwjipui(óm(hói(ènmîikoi(mò(òmpvj(sn(sjmîrhsmn(sj(mò(nm(lji(lnîijj(
hói(îirpnipj(rpi(snjhplghik(óm(hm(lji(hóiv(¨sn(hósj(grji{(sn(ósgó(jlwmpksnrhi(gîrljijJ
HåI

^AGEA)o@G>@CE
,-`-X.k'' HoK}AK'qFBF@KD'ƒÅ'¿pFpÅyFKHAK'DqtFFBD'' BJxtGAK' qFBÅ
F@KD''Å'¿yFKHAK'DqtFFBD'
100
90
80
70
60
50
40
30
20
10
5
20
30
40
LJ. ­ VIC
TOLMIN
LJ. ­ PLECNIK
AJDOVŠCINA
234565
NOVA GORICA
0
bsoJ(å{(( \npirî(gmnkshsmnrî(gîrlji(shó(®jif(¨H nk (gmnkshsmnrî
Vói(pijlîhj(òmp(lnpirî(gmnkshsmnrî(gîrlji(shó(®jif(¨H nk (gmnkshsmnrî(piuirî(rîjm(
jmvi(mhóip(ñrhhipnj(¨gòJ(v9;s)°{(
L( Tmvñrpsno(pijlîhj(òpmv(®wmpkipf(jgómmîj(ujJ(hómji(òpmv(®nmnLwmpkipf(jgómmîj(
sh(gmlîk(wi(nmhik(hórh(sn(hósj(grji(òpiúlinh(gmnhrgh(shó(hói(îrnolroi(jiiv(hm(
wi(kigsjsui{(sò(îirpnipj(ènm(®vmpi(îrnolroif(¨rgúlspik(mlhjski(jgómmî(hóiï(
grn(vrjhip(b@G>A9:(ksòûglîh(jhplghlpij(irpîsip(rnk(jîsoóhîï(wihhip{(hirgóipj(sn(
hómji(jgómmîj(jhrph(shó(B@G9FHF)9BF>@>9bF(irpîsipP(wlh(nmh(shó(bF:=@b9F(¨gòJ(
irvñîi(ä(shó(r(gmnhinh(gîrlji(shó(®=@IP(piòippik(hm(hói(^rjhæ(
L( pijlîhj(rpi(nmh(igiîîinh(iuin(sn(hói(®wmpkipf(jgómmîj{(hói(lji(mò(Vinjij(sn(
gmnkshsmnrî(gîrljij(sj(mwusmljîï(nmh(irjï(hm(vrjhipP(iuin(ròhip(hói(iñîsgsh(
snjhplghsmn(rnk(ñprghsgi(sn(jgómmî(ósgó(hói(îirpnipj(òpmv(hói(®wmpkipf(jgómmî(
órk(pigisuik(klpsno(hóisp(ç pk (ïirp(¨hósj(sj(giphrsn(rj(rîî(hirgóipj(òpmv(®wmpkipf(
jgómmîj(gmnûpvik(hósj(sn(hói(jhplghlpik(snhipusij(rwmlh(hirgósno(gmvñîiL
gîrlji(jïnhrP(gòJ(ôiphiîì(HMMår{(§§LåKæ(
L( hirgóipj(sn(®nmnLwmpkipf(jgómmîj(jiiv(hm(snhpmklgi(hósj(oprvvrhsgrî(gmnhinh(
sn(hói(§ hó (ïirp(mò(îirpnsno(rnk(nmh(irpîsip(¨jii(ñprghsgrîîï(ipm(pijlîhj(òmp(csêP(
VmîvsnP(^îiênsèP(hóipiòmpi(hói(pijlîhj(rpi(nmh(jlpñpsjsno(¨uipï(òi(îirpnipj(rpi(
rwîi(hm(lji(hóiv(gmppighîïP(mn(hói(wrjsj(mò(ñpsurhi(îijjmnj£gmlpjij(hóiï(rhhinkæ(
L( hói(pijlîhj(rîjm(jóm(hórh(iñîsgsh(snjhplghsmn(óiîñj(rnk(ñpmwrwîï(gmlîk(órui(
óiîñik(iuin(vmpi{(hói(îirpnipj(órk(îirpnik(hm(lji(iF==@(sn(hói(H nk (gmnkshsmnrîP(
HãM

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
hóipiòmpi(hóiï(mlîk(órui(wiin(rwîi(hm(lji(hói(jrvi(òmpv(rîjm(sn(r(gmnhinh(
rnk(rn(lnpirî(gmvñrprhsui(gîrljiP(sò(hóiï(órk(wiin(snjhplghik(rwmlh(mhóip(
gmvñîiLgîrlji(jhplghlpij(óipi(sh(grn(wi(ljikJ(
Vói(pijlîhj(rpi(jsvsîrp(òmp(mhóip(hïñij(mò(jlwmpksnrhi(gîrljij(¨ôiphiîì(HMMåw{(
KMãLKçäP(K§äLKåã{(hói(kiopii(mò(vrjhipï(mò(gmvñîiLgîrlji(jïnhr(rvmno(RîmL
uinsrn(dsoó(Rgómmî(îirpnipj(kiñinkj(jhpmnoîï(mn(hói(ñmjjswsîshï(mò(ñmjshsui(hprnjL
òip(óin(gómmjsno(hói(Vinji(sn(r(jlwmpksnrhi(gîrljiJ(
mOuO')ADGJpx'Fv'vKADtBr'oHEJGGAH'@pJnAKDJGr'DG@HApGD'Fv'1GoBJop',opx@oxA'
opH',JGAKoG@KA'
Un(rnmhóip(rnrîïjsj(¨ôsèîsê(KIIHr(rnk(KIIHwæ(ôiphiîì(HMMåw{(KçILK§â(òmgljL
sno(mn(òpijóîï(rkvshhik(jhlkinhj(hm(hói(jhlksij(mò(Uhrîsrn(Zrnolroi(rnk(Zshiprhlpi(
rh(hói(brglîhï(mò(Qphj(sn(ZìlwîìrnrP(sh(rj(òmlnk(hórh(hói(oiniprî(îiuiî(mò(hóisp(
vrjhipï(mò(gmnkshsmnrî(gîrljij(muip(hói(îrjh(Kå(ïirpj(órj(wiin(kigpirjsno{(sn(KIIH(
rwmlh(âM(«(ipi(rwîi(hm(hprnjîrhi(rîî(hïñij(mò(gmnkshsmnrî(gîrljij(¨pirîP(ñmhinhsrîP(
lnpirîP(sJ(iJ(H nk (rnk(ç pk (gmnkshsmnrî(òpmv(Rîmuinsrn(snhm(Uhrîsrn(shómlh(ippmpj(sn(
Vinji(ljroiP(wlh(hmkrï(hói(nlvwip(mò(jlgó(òpijóvin(sj(åM(«(rnk(îijj(¨jii(v9;s)ÑJ(
Uh(vljh(wi(ñmsnhik(mlh(hórh(hói(gmvvrnk(mò(ksòòipinh(hïñij(mò(B@G9FHF)9BF>@>9bF(
rj(hijhik(rh(r(ñpmklghsui(îiuiîæ(sh(grn(nmh(wi(igîlkik(hórh(òpijóîï(rkvshhik(lnsL
uipjshï(jhlkinhj(mlîk(órui(wiin(rwîi(hm(lnkipjhrnk(sh(gmppighîï(sn(wmhóP(shj(hivL
ñmprî(rnk(vmkrî(rjñighj(¨jlgó(rnrîïjsj(órjnfh(wiin(kmniJ(dmiuipP(hói(pijlîhj(
jóm(hórh(muipgmvsno(niorhsui(hprnjòip(òpmv(hói(ZK(¨Rîmuinsrn(sj(wigmvsno(rn(
sngpirjsnoîï(vmpi(ksòûglîh(hrjèJ 14 (
Ê@)fFP)>F)9kQ@H@Cl)>9)fFP)BFQ@HACs)
a@)CF)=ABG…l)>@)CF)H9G…s)
`i)`)R:Fg)>JA>l)`)g9CC)>@CC)eF389XX6='
`i)>J@)g@A>J@G)gA=){:@l)g@)gF

^AGEA)o@G>@CE
Ê@)f9)f9CF)mQX@GAEn)C@BF)QG@P@l)f9)WC9)Q@:s)
f9'AB9449'7AOO6'T95'O9XM6-'4A89XX6':4>3O3=' 70 % 35 % 40 %
`i)>J@)g@A>J@G)JAH)f@@:){:@l)g@)gFF)©)PFH@G:A)r)ê[J@)iAP9Ce)9:)PFH@G:)=Fb9@>eI)jiuiprî(hïñij(mò(jlwmpksL
nrhi(gîrljij(rññirpikP(jmvi(mnîï(jñmprksgrîîïJ([iniprîîïP(mnîï(I(hïñij(mò(jlwmpL
ksnrhi(gîrljij(ipi(ljik(rh(îirjh(å(hsvij(irgóP(¨jii(v9;s)•l)óipi(hóiï(rpi(îsjhik(
rggmpksno(hm(hóisp(òpiúlingï{(
types of subordinate clauses
KJ( ®hórhf(gîrlji(¨UhrîJ(òprji(jmooihhsur(m(mooihhsur( TdY
connectives approx.
Number
of instances
KMM
HJ( piîrhsui(gîrlji(¨UhrîJ(òprji(piîrhsur( TdY KMM
çJ( gîrlji(mò(ñlpñmjiP(svñîsgsh(¨UhrîJ(òprji(ûnrîi(
svñîsgshr(
^Y`¡UWbJK
§J( gîrlji(mò(grljrî(pirjmn(¨UhrîJ(òprji(grljrîi( ^Y`Td_ §M
åJ( hivñmprî(gîrlji(¨UhrîJ(òprji(hivñmprîi( ]\QWXS HM
ãJ( pirî(gmnkshsmnrî(gîrlji(mò(K jh( hïñi (¨UhrîJ(ñipsmkm(
sñmhihsgm(kiîîr(pirîhx(
âJ( gîrlji(mò(vrnnip(¨UhrîJ(òprji(vmkrîi(pirîi TSôY KM
äJ( piîrhsui(gîrlji(mò(ñîrgi(¨UhrîJ(òprji(îmgrhsur£
piîrhsur
RY
XScY
åM
HM
KM(
HãH

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
IJ( lnpirî(gmnkshsmnrî(gîrljiP(H nk( hïñi(¨UhrîJ(ñipsmkm( RY å(
sñmhJ(kiîîr(ñmjjswsîshï(
bsoJ(ä{''bpiúlingï(mò(jlwmpksnrhi(gîrljij(sn(dsoó(Rgómmî(Ziruipjf(ijjrïj
Vói(hïñij(mò(jlwmpksnrhi(gîrljij(ljik(sn(hói(ijjrïj(rpi(wrjsgrîîï(hómji(òpiL
úlinhîï(ljik(sn(vmkipn(UhrîsrnP(wlh(sh(jiivj(hórh(îirpnipj(oiniprîîï(hink(hm(rumsk(
jlwmpksnrhi(gîrlji(gmnjhplghsmnj(óipi(hóiï(vsoóh(ingmlnhip(ñpmwîivj(gómmjsno(
hói(rññpmñpsrhi(VinjiJ(Vóiï(hink(hm(îsvsh(hóivjiîuij(sn(hói(gmnhinh{(hóiï(ñpiòip(hm(
pshi(oiniprîshsij(rnk(km(nmh(kigski(hm(pshi(rwmlh(rnigkmhij(mp(ñrjh(iuinhjP(rj(sò(
hóiï(ipi(gmnjhrnhîï(hpïsno(hm(rumsk(hói(lji(mò(Vinjij(ósgó(rpi(ljik(sn(r(ksòòipL
inh(rï(gmvñrpik(hm(hói(vmhóip(hmnoliJ(
uO'YZXY,4/1ZX/'*X.'.1/Y4//1ZX'
Vói(K st (óïñmhóijsjP(nrviîï(>J@)PA=>@Ge)Fi)bFPBC@ñrbCAAñl)BAG>Ce)A>)
G@b@B>9Q@)A:H)BAG>Ce)AC=F)A>)BGFH9Q@)C@Q@Cl)9=)=F)f@)A):@b@==AGe);FAC)
Fi)>@AbJ9:;SC@AG:9:;)`>AC9A:)9:)A)iFG@9;:)bFGe)=A9:):@AbJ9:;)JFF)gJ9bJ)A)C@AG:@G)9=)
@ñBF=@H)HAC9A:)=JFJA>)
9:>@Gi@G@:b@)BGFfC@P=)9:)>J@)Añ)bCAF)A)
b@G>A9:)@ñ>@:>(sj(nmh(wmpni(mlh(wï(hói(krhr(ishóip{(hói(pijlîhjP(ijñigsrîîï(hómji(òpmv(
hói(K st (rnk(H nk (opmlñ(jóm(hórh(hói(snhipòipingi(piîrhik(ñpmwîivj£ksòûglîhsij(km(nmh(
ksjrññirpP( ómiuip( sh( órj( wiin( nmhik( sn( jmvi( grjij( hórh( ñipjsjhinhîï( sngpirjsno(
îirpnipj(rrpinijj(mò(hói(ñpmwîiv(grn(óiîñ(muipgmvi(hói(niorhsui(hprnjòipJ Kã (
Kå( ( Q(ñmsnh(nmh(hm(wi(igîlkik{(hóiji(pijlîhj(rîjm(pi¿igh(hói(òrgh(hórh(îijj(rwîi(îirpnipj(mñh(hm(jhlkï(
Uhrîsrnæ(hóipi(órj(wiin(r(piîrhsui(vrposnrîsjrhsmn(mò(hósj(òmpison(îrnolroi(sn(îrjh(hm(kigrkijJ(
Kã( (ômpi(rkurngik(îirpnipj(óm(órui(rîpirkï(jhlksik(bpingó(mp(Rñrnsjó(mp(mhóip(`mvrngi(îrnolroij(
grn(kiuiîmñ(hóisp(ñpsmp(ènmîikoi(mò(Uhrîsrn(òlphóip£òrjhipP(sò(hóiï(órui(gmnjgsmljîï(îirpnik(rnk£
mp(rgúlspik(hói(rkiúlrhi(gmvñîiLjïnhrghsgrî(ñrhhipnj(sn(hóiji(îrnolroijJ(
Hãç

^AGEA)o@G>@CE
Rmvi(ñpmòijjsmnrîj(vsoóh(rpoli(hórh(sn(hósj(ñrñip(r(gmvñîi(jïnhr(sj(osuin(
r(pmîi(ósgó(sj(nmh(rññpmñpsrhi(òmp(jhlkinhjP(rh(îirjh(mn(hói(ñpmklghsui(îiuiî(lñ(hm(
aHJ(Un(mhóip(mpkjP(hóiï(mlîk(ñpmñmji(nmh(hm(snuijh(hsvi(rnk(iòòmph(sn(hirgósno(
óm(hm(lji(jhplghlpij(hórh(iuin(nrhsui(Uhrîsrn(jñirèipj(rumsk(¨igiñh(òmp(rkurngik(
îiuiî(jhlkinhjP(óipi(hóiï(mlîk(wi(piîiurnhæ(òmp(hói(pijhP(hirgósno(rumskrngi(
jhprhiosij(jómlîk(wi(ñpiòippik(hm(jñinksno(hsvi(mn(vrnï(rjñighj(mò(gmvñîi(jïnL
hrP(ósîi(hói(îrhhip(jómlîk(pivrsn(îirpnsno(mwìighsui(òmp(hói(pigiñhsui(îiuiî(¨pigL
monsjsno(hóiv(vrï(wi(inmloóJ(
ômpimuipP(r(jsvsîrp(ñmsnh(mò(usi(grn(wi(òmlnk(rvmno(úlshi(jmvi(Rîmuinsrn(
dsoó(Rgómmî(hirgóipjP(vmjhîï(jórpik(wï(hómji(hirgóipj(sn(jgómmîj(óipi(îirpnL
ipj(rpi(îijj(snhipijhik(rnk(óipi(hóiï(jhrph(îirpnsno(Uhrîsrn(òpmv(jgprhgó(¨òmp(hói(
ksuipji(jshlrhsmn(sn(Rîmuinsr(jii(ôsèîsê(rnk(Sëwmh(HMMKJ(
Un(vrnï(mhóip(dsoó(RgómmîjP(hirgóipj(jórpi(hói(usi(mò(lnsuipjshï(hirgóipj(
¨òpmv(hói(kiñrphvinh(mò(UhrîsrnP(gòJ(ôsèîsê(rnk(Sëwmh(HMMâ(hórh(hói(hprkshsmnrîîï(
ósoó(îiuiî(mò(vrjhipï(mò(oprvvrp(jómlîk(wi(vrsnhrsnikP(rh(îirjh(rh(ósoóijh(ñmjjsL
wîi(pigiñhsui(îiuiî(rnk(rh(r(piîrhsuiîï(ósoó(ñpmklghsui(îiuiî(¨aHP(kijñshi(r(oiniprî(
kigîsni(svñmjik(wï(r(ñpmwrwîï(sngmppigh(snhipñpihrhsmn(mò(hói(c]vJ(
Hã§
uOlO')tA'KFBA'Fv'@pJnAKDJGr'opH'bJxt'/qtFFB'GAoqtAKD'
Vói(rrpinijj(mò(hói(gpshsgrî(gmnhprjhsui(rjñigh(mò(hirgósno(Uhrîsrn(hm(RîmuiL
nsrn(îirpnipj(sj(uipï(ósoó(rh(hói(lnsuipjshï(îiuiî(¨ôsèîsê(rnk(Sëwmh(HMMK(rnk(9:)
BG@==P(wlh(lnòmphlnrhiîïP(shj(rññîsgrhsmn(órj(nmh(wiin(mpèik(mlh(ïih(wï(lnsuipL
jshï(hirgóipj(rnk£mp(Rîmuinsrn(iñiphj(sn(îrnolroi(hirgósno(òmp(Uhrîsrn(rj(r(ZH£bZP(
iJoJ(wï(gmlpji(rnk(hihwmmè(kijsonipjJ(Qj(Uhrîsrn(ñikromosgrî(oprvvrpj(rnk(hihL
wmmèj(grnnmh(hóivjiîuij(ñpmuski(r(olrprnhiik(vihómk(¨gòJ(ôiphiîì(HMMåw{(KåâL
HMK(òmp(hói(rgúlsjhsmn(mò(hói(nigijjrpï(ènmîikoi(òmp(hói(gmnjhplghsmn(mò(gmvL
ñîi(gîrljij(¨iJoJ(wï(rkksno(jñigsûg(snòmpvrhsmn(òmp(snksusklrî(îsnolsjhsg(opmlñj(
jlgó(rj(jñirèipj(mò(Rîrusg(îrnolroijP(hósj(ksòûglîh(hrjè(pivrsnj(sn(hói(jigmnkrpïP(
ijñigsrîîï(dsoó(Rgómmî(hirgóipjf(kmvrsnP(rnk(hósj(sj(hói(grji(sn(RîmuinsrJ(
dsoó(Rgómmî(hirgóipj(km(ingmlnhip(ñpmwîivjP(piîrhik(hm(gmvñîiLgîrlji(jïnL
hr(sn(hóisp(hirgósnoP(wlh(jhsîî(hói(rrpinijj(mò(hósj(gpshsgrî(rjñigh(mò(hirgósno(
Uhrîsrn(hm(Rîmuinsrn(îirpnipj(sj(nmh(uipï(ósoó(¨gòJ(ôiphiîì(HMMår{(§§LåK{(vmjh(
hirgóipj(òmglj(mn(®jsvñîif(îrnolroiP(km(nmh(lji(rlhóinhsg(hihjP(òmîîm(r(gómjin(
hihwmmè(wlh(rpi(mòhin(lnórññï(shó(vmkipn(®iîivinhjf(snhplksno(snhm(hóisp(oprvL
vrhsgrî(rññpmrgó(hm(hói(hirgósno(mò(UhrîsrnJ(Vóiï(mòhin(osui(ñpsmpshï(hm(hói(úlrnL
hshï(mò(ñprghsgi(prhóip(hórn(hm(ñpmklghsui(hrjèj(ósgó(mlîk(snhioprhi(hói(ljroi(
mò(oprvvrp(jhplghlpijP(sngîlksno(gmvñîi(gîrljijP(shó(ñpmklghsui(jèsîîj(¨pijlîhj(
jèihgóik(mlh(òpmv(ôiphiîì(HMMår(rnk(HMMåwJ(

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
uOmO'1pDGAoH'Fv'HMABBJpx'Fp'GtA'DtFKGqFEJpxDÄ'JHAoD'vFK'DFEA'pAsG'DGAzD'« l '
Vm(jlññmph(hói(iòòmphj(òmp(vrsnhrsnsno(piîrhsuiîï(ósoó(mwìighsuij(mò(hirgósno(
rnk(îirpnsno(Uhrîsrn(sn(Rîmuinsrn(dsoó(Rgómmîj(¨rnk(gmnjiúlinhîï(ósoóip(îiuiîj(
mò(pigiñhsui(rnk(ñpmklghsui(gmvvrnk(rvmno(îirpnipjP(gmvñîiLgîrlji(jïnhr(
jómlîk(wi(pisnjhrhik(rj(r(piolîrp(iñîsgsh(omrî(mò(gmnjgsmlj(îirpnsno£hirgósno{(
( Vói(ñpijingi(mò(gmvñîiLgîrlji(jïnhr(sn(Uhrîsrn(rlhóinhsg(hihj(mò(urpsmlj(
hïñij(sîî(pivrsn(r(górîîinoi(òmp(hirgóipj(rnk(îirpnipj{(gmvñîi(ènmîikoi(
hm(vrjhip(jïnhrghsgrîîï(kivrnksno(gîrljij(sj(niikikJ(
( Vm(rgósiui(hósj(omrîP(Rîmuinsrn(îirpnipj(vljh(wigmvi(rrpi(mò(hóisp(jñigsûg(
niikj(wigrlji(mò(hói(ksòòipingij(sn(hói(lji(mò(Vinjij£ômmkj(sn(jlwmpksnrhi(
gîrljij(sn(Rîmuinsrn(gmvñrpik(hm(UhrîsrnJ(
( aï(virnj(mò(gmîîrwmprhsmn(wihiin(Rîmuinsrn(hirgóipj(rnk(ñikromosgrî(iL
ñiphjP(jmvi(hirgósno(vrhipsrîj(grn(wi(kiuiîmñik(ósgó(rpi(kijsonik(hm(inL
rwîi(îirpnipj(hm(rgúlspi(hói(nigijjrpï(ènmLóm(hm(vrjhip(gmvñîi(gîrljij(
rnk(hólj(rgúlspi(r(wihhip(gmvvrnk(mò(hói(îrnolroi(rj(r(ómîiJ(
( Vói(hirgósno(mò(gmvñîiLgîrlji(jïnhr(jómlîk(sngîlki(iîîLñpiñrpik(hrjèj(
mò(urpsmlj(èsnkj(hm(inrwîi(îirpnipj(hm(rhhrsn(ósoóijh(ñmjjswîi(vrjhipï(rh(hói(
pigiñhsui(îiuiî(¨gòJ(hói(vmhhm(ê>F)G@bF;:9=@)A:H)>F)A:H)ABBGFBG9A>@CeI)
rnk(r(pirjmnrwîï(irpîï(ñrjjroi(hm(hirgósno(gmvñîi(jïnhr(rh(r(ñpmklghsui(
îiuiîJ(
( Un(jlgó(hrjèj(8(kijsonik(rggmpksno(hm(hói(niikj(mò(hói(îirpnipj(8(rññpmñpsL
rhi(gmonshsui(rnk£mp(ròòighsui(jhsvlîs Kä (mlîk(óiîñ(hóiv(îirpn(hói(îrnolroi(
vmpi(iòòighsuiîïJ(Qkkshsmnrî(snñlh(òpmv(hirgóipjf(jski(mlîk(wi(piúlspik(sn(
hói(ñpiñrprhsmn(mò(hrjèj(piorpksno(hói(iñmjlpi(mò(îirpnipj(hm(rlhóinhsg(hihj(
gmnhrsnsno(gmvñîiLjïnhrJ(
( Vói(skir(êC@==)A:H)@AGC9@G)9=)f@>>@GI(jómlîk(wi(òmîîmik(òpmv(hói(wiosnnsno(mò(
hirgósno£îirpnsno(¨wï(hói(jigmnk(órîò(mò(hói(K st (ïirpP(ròhip(rññpmJ(åM(ómlpj(mò(
îirpnsno(Uhrîsrn(gmvvlnsgrhsuiîïJ KI
Kâ( ( Vóiji(rpi(skirj(rnk(ñpsngsñîij(gpïjhrîîsjik(muip(hói(ñrjh(KM(ïirpjP(ósgó(órui(jhrphik(hm(wi(òmîL
îmik(sn(ñrph(rnk(jómlîk(òlphóip(wi(kiuiîmñik(sn(hói(Rîmuinsrn(gmnhih(mò(hirgósno(Uhrîsrn(rj(r(
jigmnk(¨sn(hói(ws£ñîlpsîsnolrî(rpir(mò(hói(`iñlwîsg(mò(Rîmuinsr(rnk(îijj(jm(rj(r(òmpison(îrnolroi(
sn(jigmnkrpï(oprvvrp(jgómmîjJ(
Kä( ( Uh(mlîk(wi(nigijjrpï(hm(óiîñ(hirgóipj(kiuiîmñ(r(iîî(hómloóhLmlh(rññpmrgó(hm(îrnolroi(hirgósnoP(
óipi(wmhó(gmonshsui(rnk(ròòighsui(rjñighj(mò(hói(îirpnsno(ñpmgijj(mlîk(wi(hrèin(snhm(rggmlnhP(
rnk(hm(óiîñ(hóiv(ñrï(rhhinhsmn(hm(óm(hm(óiîñ(îirpnipj(hm(vrjhip(gmvñîi(gîrljij(sn(rn(rghsui(rïP(
wmhó(sn(pigiñhsmn(rnk(ñpmklghsmn(mò(îrnolroiJ(Uh(órññinj(hmm(mòhin(hórh(hóipi(sj(r(îmh(mò(hirgósno(mò(
îrnolroi(plîijP(ósgó(pivrsn(ñmmpîï(gmnnighik(hm(r(hómpmloó(gmvñpióinjsmn(mò(rlhóinhsg(hihj(
mp(hm(ñpmklghsui(îrnolroi(jèsîîjJ(
KI( ( Rmvi(iñipsvinhrî(higónsúlij(mò(hirgósno(gmvñîiLgîrlji(jïnhr(hm(îirpnipj(òpmv(hói(îiuiî(QK(
sngîljsui(órj(lñ(hm(nm(wiin(rññîsik(sn(vï(mn(hirgósno(ñprghsgi(¨gòJ(ôiphiîì(HMMäJ(
Hãå

^AGEA)o@G>@CE
3-L-3-XY-/'
TóslgósÂ(QJ(rnk([J(TóslgósÂJ(HMMåJ(jGAPPA>9bA)@)bFP9P(
çä(¨K£HP(KâçLKIåJ(
Zm(XlgrP(ôJ(HMMãJ(a9CCAfF)H9)9>AC9A:F)8És)O@G)=>9)AG9)9:)=bAPf9Fs(`mvr{(
TrpmggsJ(
ôrpèsêP(eJ(HMM§J(Qjñighmj(kiî(rjñighm(ijîmuinm(ijñr˛mîJ(Un{([mnrîiïLˇîrurpiP(YJ(rnk(
QJ(`mîîsnoj(¨YkjJJ(a>GA=>9Q@)C9:;9b=P(¨Tlpjmj(i(gmnopijmjP(W!(KåMJ(
Rrnhsrom(ki(Tmvñmjhiîr{(\nsuipjskrki(ki(Rrnhsrom(ki(TmvñmjhiîrP(HäâLHI§J(
ôrpèsêP(eJ(HMMãJ)]C)Q@GfF)@:)@=BAÁFC)Ç)A=B@b>F=)>@G9bF=)H@)CA)PFGiF=9:>Añ9=)H@C)Q@GfF)
@=BAÁFCJ(Zìlwîìrnr{(bsîmmòjèr(òrèlîhihrP(Skkiîiè(r(pmvrnjèi(ìisèi(sn(ènìsëiunmjhsJ(
ôiphiîìP(XJ(HMMårJ(\êshiîìs(sn(ñmlêiurnìi(jèîrknìiJ(Vk;FEA)9:)9kFfGA@QA:E@P(çã(¨KP(§§L
åKJ(
ôiphiîìP( XJ( HMMåwJ( OF@G9J) BFHG@H:9J) =RCAH@:E=R9J) QkFGb@Q) BG9) BG@HP@­
>AC9EA:WX9:Aê)RF>)>A:E@)9:)BG@HCF;9)
kA)=BG@P@Pf@)m9>s)8ê9:=@;:AP@:>F)H9)iGA=9)bFPBC@==@):@CCêAPf9>F)H@CCê9>AC9A:F)bFP@)
C9:;GA:9@GA):@9)C9b@9)=CFQ@:9Ç)=>A>F)A>>@ns)^FR>FG=RA)H9=@G>Ab9EAs)
Zìlwîìrnr{(bsîmmòjèr(òrèlîhihrP(Skkiîiè(r(pmvrnjèi(ìisèi(sn(ènìsëiunmjhsJ(
ôiphiîìP(XJ(HMMäJ(Swprunrurnìi(oîromîjèsó(êrjmu(sn(uiêjhruêni(jèîrknìi(ñps(rêihnsèsó(
(shrîsìrnéêsnm(èmh(hlìsv(ìisèmvJ(Un{(RèiîrP(eJ(¨YkJP(OG@;C@H)=>A:EA)>9l)
Ai{:9>©)H9)C9:;@:H@:kA)H@CCê9>AC9A:F)bF:>@PBFGA:@Fs)`mvr{(alîmnsP(
§âåL§IHJ(
ôsèîsêP(VJ( HMMçJ( Unhipñpihrsmni( kiîîr( òlnsmni( hijhlrîi( kis( ñrprksovs( uipwrîs( shrîsrnsJ(
Vinhrhsum(ks(ln(vmkiîîm(k®rnrîsjs(snhioprhrJ(Un{(ôJ([srgmvmLôrpgiîîijs(ôJ(rnk(QJ(
`mggóihhs(¨YkjJP(`C)Q@GfF)9>AC9A:FÇ)a>GA=>9Q9l)H9HA>>9b9s(
`mvr{(alîmnsP(ååç8åâMJ
ôsèîsêP( VJ( HMM§J( Vijhs( nrpprhsusP( rsmns( ginhprîs( i( ñrprksovs( uipwrîs( shrîsrnsJ( Un{( ^rmîm(
X®Qgósîîi(¨YkJP(j@:@G9l)AGbJ9>@>>@=>

RSôY(QR^YTVR(QWX(TQRY(RV\XUYR(QaS\V(VYQTdUW[(UVQZUQW(JJJ
ôsèîsêP(VJ(rnk(ôJ(SëwmhJ(HMMâJ(Virgósno(hói(ljij(mò(Uhrîsrn(uipw(òmpvj(hm(Rîmuini(jñirèL
ipjJ(89:;9bAP(§â(¨KP(ãåLâãJ(
ômkipgP(RJ(HMMçJ(Zfrgúlsjssmni(kiîîfsvñipòihhm(kr(ñrphi(ks(ksjginhs(ruinhs(gmvi(îsnolr(
vrkpi(sî(jipwmgpmrhmJ(^pmwîivs(rjñihhlrîs(i(hivñmprîsJ(Un{(ôJ([srgmvmLôrpgiîîijs(ôJ(
rnk(QJ(`mggóihhs(¨YkjJP(`C)Q@GfF)9>AC9A:FÇ)a>GA=>9Q9l)
H9HA>>9b9s(`mvr{(alîmnsP(åâK8åä§J
ômkipgP(RrérJ(HMMåJ(Xli(jsjhivs(r(gmnòpmnhm{(sî(ñipòièrh(jipwmgpmrhm(i(s(jlms(iúlsurîinhs(
shrîsrnsJ(`>AC9bA)U@C;GAH@:=9A)mVns)
ômkipgP( RJ( HMMãJ( jGAPA>9RA) 9>AC9EA:=RF;) E@k9RAs) oFGiFCF;9EA) =A) @C@P@:>9PA) =9:>AR=@l)
HG@R=>As)¥QFH)Q)=9:>AR=AC9EA:=R@)=CF@:@)G@X@:9b@s(
^mkompsgr{(\nsuipshih(Tpni([mpiP(bsîmmòjès(òrèlîhihJ(
RèlwsgP(ôJ(KIIKJ(Unhipòipini(jsnhrhhsgói(ks(mpsosni(pmvrnr(niîîi(ñrpîrhi(jîmuini(mggsL
kinhrîs{(îr(jhplhhlprsmni(kiî(jsnhrovr(rooihhsurîiP(kiîîr(òprjiP(kiî(ñipsmkmJ(Linguis­
>9bAP(çM(¨KP(çãKLçãåJ(
YZ3a4/'Ö*4)bZ3N/'*3Yb1[-à'
Yjjrïj( mò( oprvvrp( jgómmî( îiruipjP( Q( îiuiîjP( elni( HMMK( ¨Qpgósui( mò( hói( `iñlwîsg(
Yrvsnrhsmn(Tinhip(mò(Rîmuinsr(
Wijñrñipj{)cFGG9@G@)H@CCA)a@GAs(Xrsîï(WijñrñipP(ähó(ernlrpï(HMMçJ(
Wijñrñipj{(^F::A)PFH@G:As(©iièîï(ôrorsniP(Kjh(elîï(HMMHJ(
Wijñrñipj{)j9F9As(©iièîï(ôrorsniP(§ hó (mò(Xigivwpi(HMMHJ(
Vijhj(mò(oprvvrp(jgómmî(îirpnipjP(Uhrîsrn(rj(r(bmpison(ZrnolroiP(K st (rnk(H nk (hijhsnoJ(
Vóivrhsgrîîï(jhplghlpik(snhipusij(shó(hirgóipj(rwmlh(hirgósno(gmvñîiLgîrlji(jïnhr(
¨nmhij(mò(mprî(rnjipj(
Xrpìr(ôiphiîì(
QZT\WU(QR^YVVU(XU(RV\XUS(R\ZZfUWRY[WQôYWVS(XU(RUWVQRRU(
TSô^ZYRRY(^Y`([ZU(RV\XYWVU(RZScYWU
`srjjlnhm
Xrî(ñlnhm(ks(usjhr(kiîîr(jsnhrjjs(kiîîr(òprji(gmvñîijjrP(sngîljm(îfljm(kis(hivñs(uipwrîsP(
îfrgúlsjssmni(kiîîr(îsnolr(shrîsrnr(kr(ñrphi(kioîs(jhlkinhs(jîmuins(psjlîhr(rwwrjhrnr(ksòL
ûgsîiJ(aingót(îr(gmvñîijjshx(jsnhrhhsgr(nmn((jsr(împm(ijhprnirP(ijjs(sngmnhprnm(nmhiumîs(
mjhrgmîs(úlrnkm(kiumnm(òrpi(kis(osljhs(ñrprîîiîs(hpr(s(Kå(hivñs(uipwrîs(shrîsrns(i(s(å(jîmuinsJ(
Uî(òrhhm(gói(sn(urps(hsñs(ks(hijhm(uinornm(ljrhs(úlrjs(hlhhs(s(hivñs(uipwrîs(shrîsrns(nmn(gmnhpsL
Hãâ

^AGEA)o@G>@CE
wlsjgi(giphm(r(ksvsnlspi(îi(împm(ksòûgmîhxJ(Zfsnjionrvinhm(gmvlnsgrhsum(i(îi(ñpmñmjhi(kiî(
‚

B

8E=( kijsonik( òmp( hói( ñlpñmjij( mò( hósj( ñrñip( ipi( ljik( rj( snjhplvinh( iFG) >J@)
A:ACe=9=)Fi)A:=g@G=(mò(V``)A:H)V```);GAH@)=>=(hm(iipgsjij(gmuipsno(ñpijinh(
ñipòigh( hinjiJ(Vói( jhlkï( sngîlkik( rññpmsvrhiîï( ÅÉå) =>=P( ómji( rnjipj(
órui(wiin(rnrîïik(wrjik(mn(hóisp(òpiúlingï(rnk(ksjhpswlhsmnJ(
Vói(wrgèopmlnk(mò(hósj(rnrîïjsj(gmnjsjhj(mò(hópii(piîrhik(rññpmrgóijP(sngîlksno(
]GGFG)T:ACe=9=)m]Tnl)cF:>GA=>9Q@)T:ACe=9=)teBF>J@=9=)mcTtn)rnk)vFGPri9F:)
ABBGFAbJs))
WmP( U( mlîk( îsèi( hm( iñîrsn( óï( U( órui( jiîighik( hóiji( vihómkjJ( WrviîïP(
YQ(rnk(TQd(órui(wiin(òpiúlinhîï(ksjñlhik(sn(îsnolsjhsg(gspgîij(sn(hipvj(mò(hóisp(
piîiurngiJ(dmiuipP(hóiï(grn(jhsîî(mòòip(jmvi(ljiòlî(snjsoóhj(snhm(rh(îirjh(jmvi(mò(
hói(svñmphrnh(rpirj(mò(òmpison(îrnolroi(îirpnsnoJ
lOmO'-KKFK'*poBrDJD'Ö-*à
Sni(mò(hói(vihómkj(ljik(sn(hósj(ñrñip(sj(Yppmp(QnrîïjsjJ(Vói(pirjmn(óï(U(
órui(kigskik(hm(rññîï(hósj(vihómk(sj(hói(òrgh(hórh(YQ(sj(rn(svñmphrnh(jmlpgi(mò(
snòmpvrhsmn(rh(r(osuin(jhroi(mò(îrnolroi(îirpnsno(rnk(sh(ñpmuskij(ljiòlî(snjsoóhj(
sn(rpirj(mò(ksòûglîhïJ(Yppmpj(rpi(piorpkik(rj(rnnmïsnoP(ksjhprghsnoP(wlh(sniushrwîi(
wïLñpmklghj( mò( îirpnsno( r( îrnolroiJ( `iorpksno( ippmpjP( hóipi( rpi( hm( jgómmîjJ(
Qggmpksno(hm(mni(mò(hói(jgómmîjP(hói(ñpijingi(mò(ippmpj(pi¿ighj(snrkiúlrgï(mò(mlp(
hirgósno(vihómkjP(ósîi(rggmpksno(hm(hói(mhóip(jgómmîP(ippmpj(sîî(rîrïj(mgglp(
kijñshi(mlp(wijh(iòòmphjJ(Vóipi(rpi(nlvipmlj(ksîivvrj(rwmlh(hóisp(jsonsûgrngiJ(
WrviîïP(hói(úlijhsmn(òpiúlinhîï(rjèik(piòipj(hm(óihóip(ippmpj(rpi(iuskingi(mò(
kiuiîmñvinhrî(ñpmgijjij(mp(pijlîhj(mò(wrk(órwsh(òmpvrhsmnJ(ôrnï(ñimñîi(wiîsiui(
hórh(ippmpj(rpi(gmnhrosmlj(rnk(hórh(îirpnipj(rpi(rh(psjè(mò(grhgósno(hói(ippmpj(mhóip(
îirpnipj(vrèiJ(Qggmpksno(hm(Vómpnwlpïfj(bspjh(Zr(mò([prvvrp(8(òmpgsno(hói(
sjjli(wï(rhhivñhsno(hm(gmnhprjh(hói(ksòòipinh(òmpvj(ñpivrhlpiîï(sîî(pijlîh(sn(òmpgik(
ippmpjJ(Vóiji(ksòòipinh(rhhshlkij(órui(gmnhpswlhik(hm(hói(jósòhj(mò(hósnèsno(rvmnojh(
pijirpgóipj( rnk( vrhipsrîj( pshipj( ¨sngîlksno( ksòòipinh( rññpmrgóij( hm( gmppighsui(
òiikwrgèJ(YQ(sj(gmnnighik(shó(rnmhóip(óïñmhóijsj(ènmn(rj(gmnhprjhsui(rnrîïjsj(
óïñmhóijsj(¨TQdJ
HâM

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
lOuO'YFpGKoDGJnA'*poBrDJD'brzFGtADJD'ÖY*bà
Un(jñshi(mò(gpshsgsjvj(hmrpkj(gmnhprjhsui(rnrîïjsjP(hirgóipj(gmnhsnli(hm(ûnk(
snjsoóhj( ljiòlî( sn( lnkipjhrnksno( hóisp( jhlkinhjf( ñpmwîivjJ( `igmonshsmn( mò( hói(
svñmphrngi(mò(hói(jhlkinhfj(nrhsui(îrnolroi(sn(ni(îrnolroi(îirpnsno(órj(îik(hm(
nlvipmlj(rnrîïjij(ósgó(gmvñrpi(hói(jhplghlpi(mò(Ynoîsjó(shó(hórh(mò(rnmhóip(
îrnolroiJ(Tmvñrpsjmnj(vsoóh(jipui(rj(r(opmlnk(òmp(ksjgljjsmnj(mò(ñikromosgrî(
svñîsgrhsmnjJ(Vói(hóimpï(kiûnij(hm(uipjsmnj(mò(hói(rwmui(óïñmhóijsjJ(WrviîïP(
hói( =>GF:;) Q@G=9F:( mò( hói( gmnhprjhsui( rnrîïjsj( sngîlkij( rjjlvñhsmnj( rggmpksno(
hm( ósgó( hómpmloó( gmnhprjhsui( rnrîïjij( mò( hm( îrnolroij( grn( ñpiksgh( rîî( hói(
ñpmwîivj(r(îirpnip(mò(mni(îrnolroi(grn(iñipsingi(sn(îirpnsno(hói(mhóip(rnk(sîî(
ñpmuski(r(jgsinhsûg(wrjsj(òmp(kpròhsno(rnk(jhplghlpsno(hói(hirgósno(vrhipsrîjJ(Vói(
g@AR)Q@G=9F:(mò(hói(gmnhprjhsui(rnrîïjsj(óïñmhóijsj(mwjipuij(ippmpj(rnk(hpsij(hm(
ñpmuski(iñîrnrhsmn(òmp(hóivJ(dmiuipP(sh(vljh(wi(lnkipîsnik(hórh(nmh(rîî(jmlpgij(
mò(ksòûglîhï(rnk(ippmp(grn(wi(iñîrsnik(rj(CA:;GA:=i@GJ(
©i(grn(îirpn(vlgó(òpmv(hói(hïñij(mò(ippmpj(jhlkinhj(rghlrîîï(vrèiJ(Un(hósj(
ñrñip( i( órui( òmgljjik( mn( hói( jïjhivrhsg( ippmpjP( piorpkik( sn( îshiprhlpi( rj( rn(
svñmphrnh(jmlpgi(mò(snòmpvrhsmn(L(ippmpj(rh(r(osuin(jhroi(mò(îrnolroi(îirpnsnoJ
Tlppinh(pijirpgó(mpèj(ivñórjsji(hói(jsonsûgrngi(mò(snuijhsorhsno(îrnolroi(
îirpnsno(¨òmgljjsno(mn(hói(ñrhhipnj(mò(wmhó(ûpjh(rnk(jigmnk(îrnolroi(rgúlsjshsmn(
rj(mññmjik(hm(îrnolroi(hirgósno(¨órh(hói(hirgóip(grn(km(hm(olski(hói(îirpnsno(
ñpmgijjJ
lOúO'LFKEÅv@pqGJFp'ozzKFoqt'
Un(hipvj(mò(hirgósno(oprvvrp(hóipi(rpi(nlvipmlj(jgómmîj(mò(hómloóhJ(dmiuipP(
ivñspsgrîîï(jñirèsnoP(mni(mò(hói(vihómkj(ósgó(órj(ñpmuik(vmjh(usrwîi(jm(òrpP(
rîhómloó(jhsîî(úlshi(ksòûglîh(òmp(hói(îmip(îiuiîj(mò(Ynoîsjó(jhlkinhj(hm(oprjñ(sj(hói(
vihómk(iFbJ@9G)GA:;@)Fi)i9F:=J(
Qîhómloó(hóipi(sj(îshhîi(kmlwh(hórh(hinji(sj(piîrhik(hm(hsvi(rnk(hói(piîrhsmnjósñ(
sj(kiûnshiîï(nmh(mniLhmLmniP(hóipi(rpi(jhsîî(nlvipmlj(ksòûglîhsij(sn(hói(rgúlsjshsmn(
mò(hói(uipwrî(vmpñómîmoï(ijñigsrîîï(óin(sh(gmvij(hm(hói(ksjhsnghsmn(wihiin(
hói( òmpv( rnk( shj( virnsnoj£ljij£òlnghsmnjJ( QkkshsmnrîîïP( hói( hinji( jïjhiv( mò(
Ynoîsjó(grnnmh(pirîîï(wi(lnkipjhmmk(shómlh(sngîlksno(hói(grhiompï(mò(rjñighJ(Uh(
sj(rîjm(svñmphrnh(hm(ksjhsnolsjó(gîirpîï(rjñigh(òpmv(hinjiJ(Vinji(jipuij(hm(îmgrhi(
rn(iuinh(sn(hsviæ(rjñigh(jrïj(nmhósno(rwmlh(óin(rn(iuinh(mgglppik(¨igiñh(wï(
svñîsgrhsmnP(wlh(ishóip(ingmkij(r(ñrphsglîrp(rï(mò(gmngiñhlrîssno(rn(iuinh(mp(
gmnuiïj( snòmpvrhsmn( rwmlh( hói( rï( hói( iuinh( lnòmîkj( hópmloó( hsviJ( Uh( sj( rîjm(
svñmphrnh(hm(vrèi(r(ksjhsnghsmn(wihiin(rjñigh(rj(r(jivrnhsg(ñóinmvinmn(rnk(
HâK

8E@H)ABBGFAbJ(piòipj(hm(iñpijjsmn(mò(jivrnhsg(gmngiñhj(hópmloó(
urpsmlj(îsnolsjhsg(kiusgijP(ósîi(a@PA:>9brFG9@:>@H)ABBGFAbJ(sj(sn(òrgh(virnsno(
8(mpsinhikP(gmngiñh(8(mpsinhik(rnk(sh(snuijhsorhij(hói(ksjhpswlhsmn(mò(hói(uipwrî(
vmpñómîmoï(rj(rn(snksgrhmp(mò(hói(lnkipîïsno(jivrnhsg(jïjhivJ
ôrnï(>@AbJ@G=)A;G@@)>JA>)>@:=@=)AG@)?@)H9i{b)>F)>@AbJJ(Vóiï(ûnk(hórh(=>=)
bF:=9=>@:>Ce) P9=@:=@=J( Vói( sniushrwsîshï( mò(
hóiji(ñpmwîivj(sj(rhhpswlhik(hm(hói(òrgh(hórh(>J@)bF:b@B>)fF9F:)Fi)>9P@P(rnk(hói(rjjlvñhsmn(hórh(rîî(
glîhlpij(jórpi(hói(jrvi(rhhshlkij(mò(hói(piîrhsmnjósñ(wihiin(hsvi(rnk(hinjiJ
Vivñmprîshï(mp(hói(nmhsmn(mò(hsvi(sj(piñpijinhik(sn(hói(oprvvrp(hópmloó(hinjijJ
Uh( sj( lnîsèiîï( hórh( rnï( hirgóip( mlîk( rnh( hm( ñpijinh( rîî( rh( mngi( hói( hinji(
jïjhivjJRïîîrws( rnk( hihwmmèj( rhhivñh( hm( ñpijinh( hinjij( jïjhivrhsgrîîïP( hm( om(
hópmloó(hói(hinji(òmpvj(F:@)A>)A)>9P@P(rnk(iñîrsn(irvñîij(mò(hóisp(urpsmlj(ljijJ(
Rmvi(hirgóipj(îsèi(hm(ñpijinh(hinjij(9:)bF:>GA=>(hmoihóip(shó(mhóip(piîrhik(hinjijJ(
alhP(sh(vsoóh(îirk(jmvi(jhlkinhj(hm(ñpmklgi(óïwpsk(òmpvjJ
Sni(mò(hói(ñmjjswîi(rïj(hm(rumsk(gmnòljsmnj(sj(hm(9:>GFHJ@9G)>eB9bAC)
contexts of usel)=B@b9{b functions)A:H)@ñBG@==9F:=s
úO'?4-/)1ZX/'*X.'a3Z+,-0/k'
Vói(lnkipîïsno(jlvvrpï(mò(úlijhsmnj(piorpksno(hói(rññpmrgó(hm(hirgósno(hinjij(
piòipj(hm(hói(òmîîmsno(sjjlij{(
L©órh(sj(hói(pmîi(mò(oprvvrp(sn(îrnolroi(hirgósno¬(
LRsngi( îrnolroi( sj( ósoóîï( jhplghlpikP( snhipLpiîrhik( jïjhiv( sj( sh( svñiprhsui( hórh(
îrnolroi(shivj(jómlîk(wi(îirpnik(sn(piîrhsmn(hm(irgó(mhóip(nmh(sn(sjmîrhsmn¬
Ldm(hm(ñpijinh(ni(jhplghlpij¬
Ldm(hm(piîrhi(hórh(hm(órh(órj(wiin(ñpiusmljîï(hrloóh¬
LQpi(hói(ñprghsgi(rghsushsij(virnsnoòlîP(jïjhivrhsgP(urpsik(rnk(piîiurnh(hm(îirpnipfj(
snhipijhj(rnk(niikj¬
LUj(sh(óiîñòlî(òmp(jhlkinhj(hm(wi(rrpi(mò(oprvvrhsgrî(òrghj(kihrsîj(mò(oprvvrp(
plîij(rwmlh(hói(îrnolroi¬(¨Rmvi(ñimñîi(hósnè(hórh(hirgósno(hói(oprvvrp(mò(r(
îrnolroi(ksk(nmh(nigijjrpsîï(óiîñ(hóiv(hm(lji(hói(îrnolroiJ
HâH

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
LTmuiph(mp(muiph(oprvvrp(hirgósno¬(¨piòipingi(wmmèj(svñîï((hói(òrgh(hórh(óin(
jhlkinhj(oih(vmpi(rkurngik(hóiï(rghsuiîï(jhlkï(oprvvrp(sn(vmpi(muiph(rïjJ(
L©órh( grn( wi( piorpkik( rj( hói( psoóh( iñmjlpi( ¨gîrjjpmmvP( nrhlprîsjhsg( jihhsnojP(
kiopii(rnk(vikslv(mò(iñmjlpi(ihgJ¬
mOlO'0oôFK'zKFyBAE'vFK'DG@HApGD'KABAnopG'GF'GtA'@DA'Fv'GtA'zKADApG'
zAKvAqG'DJEzBA'nDO'qFpGJp@F@D'
L( Vói(gómsgi(mò(hói(gmppigh(òmpv(mò(hói(uipw(òmp(ksòòipinh(jshlrhsmnj(
L( bmp(ôrgikmnsrn(jhlkinhj(sn(ñrphsglîrpP(rj(jñirèipj(mò(r(Rîrusg(îrnolroi(8(
rrpi(mò(hói(ksjhsnghsmn(ñipòighsui(ujJ(svñipòighsui(rjñigh(¨nmh(piñpijinhik(
wï(hói(jrvi(îsnolsjhsgj(virnj(rj(sn(YnoîsjóJ(
L( amhó(rjñigh(rnk(hinji(rpi(gmnnighik(shó(hsvi(wlh(sn(ksòòipinh(rïjJ(
L( Qjñigh( sj( nmh( gmngipnik( shó( piîrhsno( hói( hsvi( mò( hói( jshlrhsmn( hm( rnï(
mhóip(hsviLñmsnhP(rj(sj(hói(grji(shó(hinjiJ(
mOmO''0oôFK'zKFyBAE'vFK'GAoqtAKD'
LVinji(rnk(hsvi(km(nmh(gmppijñmnk(kspighîï
LVói(gómsgi(mò(uipw(òmpv(sj(gmvñîiP(sn(ñrphsglîrp(piorpksno(rjñighlrî(
ksòòipingijJ(
( L(hói(gómsgij(kiñink(mn(óm((hói(jñirèip(gmngiñhlrîsjij(hói(iuinh(rh(hói(
( vmvinh(mò(jñirèsnoJ
( L((jñirèipfj£ñlñsîfj(snhipñpihrhsmn(mò(hói(hivñmprî(iîivinhj(mò(rn(iuinh(
( ¨Qjñigh(
L( Yñîrsnsno( hói( ksòòipingi( wihiin( hói( ksòòipinh( ljroij( mò( hói( ñpijinh(
ñipòigh(sn(Ynoîsjó(rnk(Ynoîsjó(ujJ(ôrgikmnsrn(8(òmgljsno(mn(hói(prnoi(mò(
òlnghsmnj(hói(Ynoîsjó(ñpijinh(ñipòigh(gmuipjP(rj(iîî(rj(oprvvrhsgrî(rnk(
îisgrî(virnj(hm(iñpijj(hóiji(òlnghsmnj(sn(Ynoîsjó(rnk(sn(ôrgikmnsrnJ
bmp(hói(ñlpñmjij(mò(hósj(ñrñip(i(órui(jiîighik(Tmvpsifj(¨KIâã(
gîrjjsûgrhsmn(mò(ñpijinh(ñipòigh(jlwLhïñij{
L( ^ipòigh(mò(pijlîh
L( ^ipòigh(mò(ñipjsjhinh(jshlrhsmn
L( Yñipsinhsrî(ñipòigh
L( ^ipòigh(mò(piginh(ñrjh
Hâç

8E@)
9PBGFQ@P@:>=l)mòòipj(hói(òmîîmsno(pigmvvinkrhsmnj(òmp(hirgóipj{
(((L(Qumsk(rphsûgsrî(jsvñîsûgrhsmn(
(((L(Qumsk(ivñórjsjsno(ksòûglîhï(((
(((L(Tmnhprjh(Ynoîsjó(shó(Ynoîsjó(¨hóipiwï(rumsksno(gmnjhrnh(piòipingi(hm(hói(
jhlkinhfj(nrhsui(îrnolroi
((((L(Rhmñ(iñîrsnsnoP(jhrph(iñîmpsno((
dmiuipP(hóipi(sj(rn(mññmjsno(usi(jrïsno(hórh(¥bmpgsno(hói(sjjlij(wï(rhhivñhsno(
hm(gmnhprjh(hóiv(ñpivrhlpiîï(sîî(pijlîh(sn(òmpgik(ippmpjP(rggmpksno(hm(Vómpnwlpïfj(
bspjh(Zr(mò([prvvrp{(¥Uò(jmvihósno(grn(om(pmnoP(sh(sîîøJ
Q(pijmlpgiòlî(piòipingi(hshîik(¥Virgósno(Vinjijø(wï(`mjivrpï(Qshèin'ñpmuskij(
ljiòlî(îsjh(mò(virnsnoj(rnk(òlnghsmnjP(jlooijhik(gmnhihj(rnk(rghsushsij(òmp(hói(
hinjij(sn(Ynoîsjó(sngîlksno(hói(ñpijinh(ñipòigh(hinjiJ(
uO'a3-/-X)*)1ZX'ZL'*Y)4*,')-/)/'*X.'/400*31/-.')-/)'
3-/4,)/
bmîîmsno(rpi(hói(hijhj(rnk(ñlñsîjf(vmjh(òpiúlinh(ippmpj(¨jórkikJ(aï(vmjh(
òpiúlinhP(i(piòip(hm(hói(jm(grîîik(jïjhivrhsg(ñrhhipnj(mò(ñlñsîjf(ippmpjP(piorpksno(
hóiv(rj(piîiurnh(snksgrhmpj(mò(hói(ksòûglîhsij(îirpnipj(ingmlnhipJ
Uh(jómlîk(wi(lnkipîsnik(rîmno(hóiji(îsnij(hórh(nmh(rîî(ippmpj(mp(ksòûglîhsij(grn(
wi(rhhpswlhik(hm(hói(niorhsui(hprnjòip(mp(vmhóip(hmnoli(snhipòipingiJ(Un(hipvj(mò(
ñpijinh(ñipòigh(hinjiP(rj(nlvipmlj(ñrñipj(rnk(jlpuiïj(órui(piuirîikP(hóipi(sj(r(
gmnjsjhinh(îsjh(mò(vmjh(òpiúlinh(ippmpj(gpmjjLîsnolsjhsgrîîïJ(
bmîîmsno( rpi( hói( rghlrî( hijhj( rnk( hijh( pijlîhjP( rnk( rn( rhhivñh( hm( ñpmuski(
gmvvinhj(mn(hói(skinhsûik(ippmpjJ(
Hâ§
uOlO'*pDMAKD'GF'GtA'GADGD'Fv'GtA'[11Gt'xKoHAKD'
cUUhó(oprki(8(ãM(jhlkinhj
^pijinh(^ipòigh(Vinji((
UJ( Ukinhsòï(hói(ljroi(mò(hói(ñpijinh(ñipòigh(hinji(sn(hói(òmîîmsno(jinhingijJ
KL( ñpijinh(pijlîh(mò(r(ñrjh(rghsmn(
HL( hói(rghsmn(hmmè(ñîrgi(sn(r(ñipsmk(mò(hsvi(hórh(gmnhsnlij(lñ(hm(hói(ñpijinh(
çL( lnjñigsûik(hsvi(sn(hói(ñrjh(
§L( osusno(ni(snòmpvrhsmn

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
KJ( Sni( mò( hói( rsvj( mò( hói( ióswshsmn( sj( hm( jóm( usjshmpj( óm( hiîiusjsmn( órj(
kiuiîmñik(sn(hói(îrjh(hin(ïirpjJ(
H
HJ(U(rv(oîrk(ïml(órui(ñrsnhik(hói(górspjJ(Vóiï(îmmè(vlgó(wihhip(nmJ(
K(
çJ(U(îsèi(ñîrïsno(vï(olshrp(sn(hói(jhpiihJ(Ufui(kmni(hósj(hsgi{(mngi(sn(Zmnkmn(rnk(
mngi(sn(^rpsjJ
ç(
H
4
§J(L(dm(sj(Qîsgi¬(
((((L(druinfh(ïml(óirpk(hói(nij¬(Róifj(omh(vrppsikJ(
§(
1
åJ(L(©órh(jmph(mò(vljsg(km(ïml(ñîrï¬
((((L(U(órui(ñîrïik(rîî(jmphj(mò(vljsgJ(alh(nm(U(rnh(hm(kiuiîmñ(vï(mn(vljsgJ(
ç(
H(
1
ãJ(Vóiï(rpi(uipï(ïmlno(wlh(órpkmpèsnoJ(Vósj(ïirp(hóiï(órui(vrki(hm(rîwlvjJ
H(
3
1
âJ(L©óï(rpi(hóiï(osusno(hói(Wmwîi(^psi(hm(ósv¬
((((L(di(órj(ksjgmuipik(hói(jlpi(òmp(grngipJ
K£ç(
1
4
äJ((L©órh(sj(sn(hói(nij¬(
(((((L(Q(ompsîîr(órj(ijgrñik(òpmv(hói(mmJ(
§(
H
`:) >J9=) @ñ@Gb9=@) >J@G@) 9=) FfQ9F9P@) G@i@G@:b@l) bC@AG)
H9=>9:b>9F:) Fi) i9F:=) A:H) =C@) bFPBF:@:>=) >J@e) 9:bC) f@)
FQ@GbFP@)fe)@ñBCA9:9:;)>J@P)Q9A)@ñAPBC@=)F:)A:)9:>GAr)A:H)A:)9:>@GrCA:;

Hâã
8EJ@e)JAQ@):F)BGFfC@P)g9>J)>J@))B@Gi@b>)=9PBC@s)
HJ( esv( îmmèik
¨îmmè(ñrîi(óin(U(îrjh(jr(ósvJ
órj(îmmèik(
rj(îmmèsno(
Z:@)bA:)9H@:>9ie)B@G=9=>@:>)@GGFG=)G@;AGH9:;)>J@)J@)BA=>)=9PBC@)
>@:=@)9:)]:;C9=Js)ÄAP@Cel)>J@e)>J9:R)>JA>)9>)9=)bF::@b>@H)F:Ce)g9>J)>J@)
>@PBFGAC)AHQ@Gf=l)A:H)bA::F>)9:>@GBG@>)>J@)=>GJ@)F:@)AfFQ@)
mgJ@:)`)CA=>)=Ag)J9Pn)A=)F:@)9PBCe9:;)>J@))=9PBC@s
çJ( Uh(sj(hói(ûpjh(hsvi(^rhpsgsr(rnk(Qîrn( órui(usjshik ¨usjsh(hói(Rhrhij(
rnk(sh(sj(rîî(uipï(ni(hm(hóivJ
usjshik
((((((rpi(usjshsno
[J9=)9=)A:)FfQ9F=I)PF>J@G)>F:;J@)BJGA=@)>J@){G=>)>9P@)bF)9PBCe)>J@)J@)BG@=@:>)B@Gi@b>s)
§J( Ufk(îsèi(hm(mpè(sn(hói(jómwsJ(U( órui(hrèin(ñrph (¨hrèi(ñrph(hmmè(
ñrph(sn(jiuiprî(Vc(ñpmoprvvij(rnk(U( inìmïik(¨inìmï(órui(inìmïik(shJ
[J9=)9=)A:F>J@G)@Q9H@:>)9:qJ@)PF>J@G)>F:;)>J9=)=>A;@)
g@)A==JA>)>J@e)G@Ce)F:)>GA:=CA>9F:ll)A>)C@A=>)>ÑJ@)PAEFG9>e)Fi)>J@Ps)
åJ( ôrpsr(rj(uipï(wljï(jhlkïsno(òmp(óip(irvj(îrjh(iièJ(Rói( ksknfh(om(
mlh ¨nmh(om(mlh(rh(rîîJ
ãJ( Vói( ñrpinhjf( viihsno( ( órjnfh( ûnsjóik( ïih ¨nmh( ûnsjó£ïihJ( U(
mnkip(óïJ
_J@:)g@)JAQ@)AHQ@Gf=)C9R@)e@>)J@G@l)FG)ACG@AHe)9:)=@:>@:b@)Ål)>J@G@)9=):F)
BGFfC@Ps_@)A==J@e)JAQ@)HG9CC@H)>J9=)@ñ@Gb9=ñ=@=s)
âJ( U inh ¨om(hm(usjsh(jmvi(piîrhsuij(ïijhipkrï(rnk(mn(vï(rï(U(
vih ¨viih(cipr(jhrnksno(sn(òpmnh(mò(hói(gsnivr(wsîîwmrpkJ
_9>J)A)bC@AG)>@PBFGAC)PAGR@G)Fi)BA=>)=9PBC@)1)e@=>@GHAe)1)>J@e)iAb@):F)
H9i{bes))
UUUJ( ôrèi( jinhingij( jómsno( rghsushï( rnk( pijlîhJ( \ji( hói( ñpijinh( ñipòigh(
gmnhsnlmlj(hinjiJ
(((((((KJ(¨oprjj(£(ih((((((((((((((((((((((((((((((((¨sh£prsn
((((((((((Vói(oprjj(sj(ih(wigrlji(sh(órj(wiin(prsnsnoJ
(((((((HJ(((¨üsv£(gprnèï(((((((((((((((((((((((((((¨jói(£(úlrppiî(shó(óip(wmïòpsink(órj(
úlrppiîîik(
(((((((((((((

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
(((((((çJ((¨bpikksi(£(jsgè(((((((((((((((((((((((((((¨ói£irh(rnk(kpsnè£(hmm(vlgó
((((((((((((( órj(
irhin(rnk(kplnè
(((((((§J((¨crîipsr(£(jniii((((((((((((((((((((((¨jói(£(rîè(£(sn(hói(prsn
((((((((((((( órj(
rîèik
(((((((åJ((¨hói(gósîkpin£(jmpi(hópmrhj(((((((((¨hóiï£irh£hmm(vlgó(sgi(gpirv
((((((((((( órui(
irhin
[J9=)P9;J>)f@)FFH)@9>J@G)A=)P9=9:>@GBG@>@H)9:=>G9F:l)FG)A=)A)CAbR)Fi)
R:FgC@H;@)G@;AGH9:;)>J@);GAPPAG)P@>ArCA:;9:b>9F:) f@>g@@:) B@Gi@b>9Q@) A:H)
BGF;G@==9Q@s)
çJ( Q{(†ml(órui(r(wîrgè(iïiJ(©órh(kmij(hórh(virn¬
a{((Uh(virnj(hórh(U( (®ui(wiin(ûoóhsno(¨ûoóh(U(órui(órk(r(ûoóhæ(órui(
òmloóhæ(rj(ûoóhsnoJ
[J@) bAJ@) Ab>9F:) 9=) CFbA>@H) 9:) >J@) BA=>) A:H) >JA>I=) gJe) `) gA=)
{;J>9:;l)f):F)bF::@b>9F:l)FG)R:FgC@H;@)Fi)>J@)J@)BG@=@:>)
B@Gi@b>)BGF;G@==9Q@s)
§J( Q{(dipiJ(Vrèi(hósj(wmmèJ(U( fui(pirk(¨pirk(shJ(Ufui(wiin(pirksno(shJ
T:F>J@G)@ñAPBC@)>JA>)>J@e)AG@):F>)iAP9C9AG)g9>J)>J@)H9=>9:b>9F:=)=9PBC@)
Q=s)BGF;G@==9Q@s)
åJ( Q{(dip(iïij(rpi(pikJ
a{((Róifj(wiin(gpïsno(¨gpïJ(Rói(órj(gpsikJ
Hââ

8E9{bA>9F:) Fi) >J@) =C@) H9ii@G@:b@=) f@>g@@:) =9PBC@) A:H)
BGF;G@==9Q@l)A:H)AC=F)F:@)Fi)>J@)i9F:=SJ@)BG@=@:>)B@Gi@b>)
BGF;G@==9Q@)1):AP@Ce)1)G@b@:>)Ab>9F:)A:H)G@=s
ãJ( Q{(Trn(i(vmui(mn(nm¬
a{(†ijJ(©i (®ui(ûik (¨û(hói(grpJ(©ifui(wiin(ûsno(hói(grpJ
ÄF>) iAP9C9AG) g9>J) >J@) 9PBFG>A:b@) Fi) >J@) C@ñ9bAC) =@PA:>9b=) m:F>) F:Ce)
;GAPPA>9bAC)=@PA:>9b=ns
âJ( Q{(Xrk(grn(wrpiîï(rîèJ
a{(†ijJ(di (órj(wiin(górjsno( ¨górji(hói(kmoJ(Rói(órj(górjikJ
ÄF>)iAP9C9AG)A>)C@A=>)A>)A:)ABBGFBG9A>@)=bAC@)g9>J)>J@)9PBFG>A:b@)Fi)>J@)C@ñ9bAC)
=@PA:>9b=s)`:)F>J@G)gFGH=l)9:)AHH9>9F:)>F);GAPPA>9bAC)A=B@b>l)C@ñ9bAC)A=B@b>)
9=)@?A:>s)`:)aCAQ9b)CA:;)9=)BAG>)Fi)>J@)9:>@G:AC)=>GJ@)=9:;C@)gFGHl)gJ9C@)9:)]:;C9=J)9>)9=)=9;:ACC@H)fe)==)JAQ@)H9i{b9@=r)@=B@b9ACCe)g9>J)>J@)BGF;G@==9Q@)A=B@b>)
Fi)>J@)AF)JAQ@Is
Hâä
uOmO'*pDMAKD'GF'GtA'GADGD'Fv'GtA'[111Gt'xKoHAKD
cUUU(hó(oprki(8(ãM(jhlkinhj
^pijinh(^ipòigh(
UJ( ^lh(hói(uipwj(sn(hói(gmppigh(òmpv(rnk(hinji{
KJ( U(¨ìljh£(hm(îirui(ìljh(îiòh(hói(gsnivr(wlh(U(¨nmh(hm(jii(ósv(ïihJ
`:qJ@9G) PF>J@G) >F:;@=) g9>J) >J@)
BG@=@:>b@)Fi)A:)AHQ@Gf)1)Es)
HJ( ôpJ( rnk( ôpjJ( Rgmhh( rpi( hirgóipj( wlh( hóiï( ¨nmh( hm( mpè( ksknfh(
mpè(rj(hirgóipj(jsngi(KIIMJ
O@Gb@B>9F:)Fi)>J@)Ab>)9=)CFbA>@H)9:)>J@)BA=>l)A;A9:)9GG@C@QA:>)Fi)
>J@)BG@=@:b@)Fi)=9:b@s)
çJ( U(¨nmh(hm(óirp(ksknfh(óirp(jlgó(ommk(nij(òmp(r(îmno(hsviJ
))))O@Gb@B>9F:)Fi)>J@)Ab>)9=)CFbA>@H)9:)>J@)BA=>l)A;A9:)9GG@C@QA:>)Fi)>J@)
BG@=@:b@)Fi)iFGs)

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
§J( Vói(apmnj(¨hm(wi(sn(hói(\RQ(jiuiprî(hsvijJ(©ipi
`:qJ@)PF>J@G)>F:;)9:>@GBG@>)gJ@:)A:H)A)=B@b9{b)=9>9F:)9:)>J@)BA=>)
gJ9bJ)9PBC9@=)BA=>)=9PBC@s)_9>J)Af=@:b@)Fi)BA=>)>9P@)AHQ@Gf9AC)
>J@e)>@:H)>F))B@Gi@b>)=9PBC@s)
ãJ( dm(îmno(¨ïml£hm(îirpn(Ynoîsjó(rh(hósj(jgómmî¬(rpi(ïml(îirpnsnoæ(
km(ïml(îirpnæ(ksk(ïml(îirpnæ(órui(ïml(îirpnik
)))))))))))))))))))))))^9G@b>)9:qGA:=CA>9F:s)
âJ( U( (¨rsh(rshik(P(rsh(jsngi(H(mfgîmgèJ(
_@)JAQ@):F>@H)A)GA>J@G)GAG@)FbbJ@)OG@=@:>)B@Gi@b>)
bF:>9:J9=)=>A;@)iFG)>J9=)A:H)=9P9CAG)bF:>@ñ>=s)[J@)H9C@PPA)
f@>g@@:)BA=>)=9PBC@)A:H)BG@=@:>)=9PBC@)9=)A:)9:H9bA>FG)Fi)>J@)
9P@)=BA:)G@C@QA:>)iFG)>J@)
BG@=@:>)B@Gi@b>)FG)9>=)BFCe=@PF@Gs)
äJ( U ¨jhlkï(jhlkï(Ynoîsjó(òmp(å(ïirpjJ(
^@=B9>@)>J@)@:H)>F))=9PBC@)
gJ9bJ)9=)bCF=@=>)>GA:=CA>9F:)Fi)>J@)oAb@HF:9A:)@?)
>GA:=CA>@H)C9>@GACCes)
UUJ(
©pshi(jinhingijJ(\ji(hói(ñpijinh(ñipòigh(¨ròûpvrhsuiJ((
Zmmè(Vóisp(hprsn(¨rppsuiJ
Zmmè(Vóisp(hprsn(órj(rppsuikJ
KJ( [mmk(nij(ôï(krk(¨wlï(r(ni(grpJ(wmloóh(
^9G@b>)9:qGA:=CA>9F:s)
HJ( Rrîîïfj(wpmhóip(¨irh(hópii(órvwlpoipjJ(irhik
^9G@b>)9:qGA:=CA>9F:s)
çJ( Zmmè(©i(¨jrui(KMM#(òmp(mlp(ómîskrïJ(órui(jruik
^9G@b>)9:qGA:=CA>9F:s)
§J( Ykrpk(¨jii(hórh(ûîvJ(Uhfj(hippswîiJ(jr
HâI

8E)9:qGA:=CA>9F:s)
UUUJ(
^pijinh(ñipòigh(mp(ñrjh(ñipòigh(
[pio(òiîh(hippsûik(wigrlji
rJ( óifj(niuip(¿mn(wiòmpiJ(dijshrhsmn(shó(hósj(rnjip(
wJ( óifk(niuip(¿mn(wiòmpiJ
dmfj(Rljrn¬
rJ( U(óruinfh(jiin(óip(òmp(roijJ
wJ( U(órknfh(jiin(óip(òmp(roijJ)`:q)9:qGA:=CA>9F:s)
UcJ(
^pijinh(ñipòigh(jsvñîi(mp(gmnhsnlmlj(
HäM
Q(gmvñlhip(óiîñ(îsni
U(®ui(wiin(mpèsno(¨mpè(rîî(vmpnsno(mn(r(kmglvinh(rnk(U( vrnroik£(
órui(mnîï(wiin(vrnrosno(¨mnîï£vrnroi(hm(ñpsnh(hm(ñroij(mò(shJ
8AbR)Fi)AgAG@:@==)iFG)>J@)C@ñ9bAC)A=B@b>s)ÄAP@Cel)>J@)Q@Gf)ê)>F)PA:A;@£G@=S
FBI)9PBC9@=)bFPBC@>9F:)A:H)>J@G@iFG@)BG@=@:>)B@Gi@b>)=9PBC@)9=):@@H@Hs)
U ¨vrèi(rv(vrèsnoæ(jmvi(wrgèLlñ(ksjèj(rnk(U(hósnè(U( îmjh(¨îmji(mni(
mò(vï(ûîijJ
^@=B9>@)>J@)bC@AG)9:=>G9F:)>J@e)AG@)=>9CC)J@)9:qJ@)PF>J@G)
>F:;J)iFG)>J@)J@)BG@=@:>)bF:>9:@)>J@)bC@AG)9:=>G9F:)>J@e)AG@)=>9CC)J@)9:qJ@)PF>J@G)
>F:;J)iFG)>J@)J@)BG@=@:>)bF:>9:

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
U ¨îmmè(îmmèikæ(rj(îmmèsno(òmp(rn(YnoîsjóL^mîsjó(ksghsmnrpï(sn(hói(
îswprpïP(wlh(U( ¨mnîï£(ûnk(mnîï(òmlnk(r(KIãå(ikshsmnJ
L( CFFR@Hr)oAb@HF:9A:)9:q)
iFG)@ñB@G9@:b@(A:H)9:qJ@)oAb@HF:9A:(rnïóipi(îmno(inmloó(hm(vrèi(
r(wijh(òpsinkJ(©i( ¨îsui(órui(wiin(îsusno()sn(jm(vrnï(ksòòipinh(ómljij(hórh(
U(grnfh(pivivwip(jmvi(mò(hóivJ((CAbR)Fi)R:FgC@H;@)Fi)>J@)B@Gi@b>)iFG)@ñB@G9@:b@s)(
Un(òrghP(îrjh(ïirp(i( ¨vmui(®ui(vmuik(ómlji(hópii(hsvij(^@=B9>@)CA=>)e@AG)1)
AHQ@Gf)Fi)>9P@)1)>J@e)=>9CC))B@Gi@b>J(
Uhfj(hpliJ(Vóipi(rpi(jmvi(ommk(hósnoj{(U
¨viih(vih(L(PF>J@G)>F:;F:;)
Fi)@ñB@G9@:b@P(wlh(niuip(shó(vlv(rnk(krkJ(
©óin( U(
¨wi( ïmlnoP( U( rîrïj( ¨órui( órui( órk( r( nrnnï( 1) >J@e)
HF):F>)9:>@GBG@>)gJ@:)`)gA=)eFG)=9PBC@P(rnk(jói(
¨hrèi(hrèin(vi(mn(ómîskrïJ(Ufv(jhrïsno(shó(vï(rlnh(rnk(lngîi(rh(hói(vmvinh(
wigrlji(vï(krkfj(vrèsno(r(ûîv(sn(bprngi(rnk(vï(vlv( ¨om(inhæ(órj(omniæ(
órui(inhæ(sj(omsno(hm(Zmj(QnoiîijJ(
Z:Ce)A:)9:=9;:9{bA:>):J)JA=);F:@s)[J@)PAEFG9>e)A:=g@G@H)
g9>J)g@:>)1)gJ9bJ)9=)oAb@HF:9A:)9:qJ@G)@Q9H@:>)g@AR:@==)G@i@G=)>F)>J@)CAbR)Fi)R:FgC@H;@)Fi)>J@)bFGG@b>)iFGP=)Fi)
>J@)9GG@;

8EÇC(E(B;(NFB;ÖNB@àCÇ;(=@(Ez@E;zL
F?;Ç;(BF?>;Ç(Ö@>?(y;=@Ç;(?@?;(FCE@|C=(y(y(Ç(@(ÇC|?;Ç>>ÇC(=@(N}C=>~>ÇC(F;(y;>O;Ç(B~>(;A(FCAO;(>(;FO;(;AACzCL
=>CP(;F=;B=;(N}>z>|ÇC(¨(E;B;ÇCz>(=@(O@?CA;=F?>;Ç(Ö@>?P(FC(;:>ANB@(A@(
HäH

XUbbUT\ZVUYR(Sb(ZH(ZYQ`WY`R(©UVd(VdY(^`YRYWV(^Y`bYTV(VYWRY(JJJ
=@y?z@F>É>?@~>Ö@(>(A@(Ö@(;:Ö@=F>(y;@A>=@Ç@(=@(ÇC|?;Ç>>ÇCJ('=@(|Ç;(=C(>=ÇCL
~>ÇC(Ö@(>F?@GNB@@ÇÇCOy;~>ÇC( FC( ;:>ANB@@Ç( A@( E>( yFÇCO@ÇF?>P( A@( E>(
y=C}=;(>((A@(E>(yÇC(Ny;ÇJ(0C?;>(=@FÇ@B=>~>(E>(y:A=>(É;J(-@z?N(C(BC?(’C(F@?@(;ACA=@|(A@(
E>(y(F>ÇC(É;(=@(F>ÇC(Ez@E;zF?>(Bà@J(0@ÖÇC(É@>(=@(N}CàCÇ;(=@(
FÇ(Ö@>?(FC(;Az>?NB@@Ç(F;(;ÇFNFÇB;(=@(F>FÇCO@ÇF?@(Ny;Ç(>FÇ(ÇB>ÇC(FC(Ö@BNB@@Ç(}CFÇ;(;A(É@?Ç;Ç(AC?@(=C?;>(Ez@E;z>(>O@@Ç(>=ÑC(
B>AF?>(?@?>P(|Ç;(=@}>(AC?@(>(zC?F>}?>;Ç(>(E}?>;Ç(B>A(Ç(y(=@FÇ@B@Ç@(>(y(N}CàCÇ;(=@(CAC=(Ö@>?J(
,N}NB@}>ÇC(=@(FÇ(Ö@>?(y;FÇCyC=;(Ö@(FÉ@’@@Ç(A>FÇ:N~>Ö@Ç@(>(=@}@Ö=;FÇ@(
=@(}=>ÇC(É;J(3Cy@?P(A>FÇ>=?~>Ö@Ç@(y;OC÷N(É;(=@}CàCÇ;(£(Ny;Ç

Hä§

9&3Z&(&#[R&(4)&#.#4(,]&(&#)0%*-&
PeVSe$"S"'T'ecQ$QS'UQ'R"!S"U"S"'hQ'
"R]VT!PT'P"PQ'!S$"R!PT'&"WTP'
&;(;B;Ö(ÇÜ>ª6';>':98áFÇ@?=COC(=@}CàCÇ;(>(BÇC(=@(
?NzÇN(ÑNO;(?;>(ÇA@Ç(=C>:CG=>(y(>NL
}NB@àCÇ;(=@(FÇ(Ö@>?J(0@Öy=>(FÇ@B;B>(?;>(Bz>Ö@@Ç(=@(
=@|>ÇC(ACÖFÇBNB@à@(>(yC>(>(y(=@}>=(
=@(G>B;Ç(=@(;AFÇ>(=@B>?>(:@>(=@(
Fz>}=>(EzCA>|Ç@(=@(FBCÇ;ÇJ((
&@G=;FÇ@(>(y;Ç}=@Ç@(?;ON=>?@~>Ö@P(y;?@GNB@àC(y;}>ÇP(>F?@GNB@àC(
}NBFÇB@P(F;}NBFÇB@P(F>ÇN@~>>(B;(C?;=;O>Ö@Ç@P(ÇÖ@Ç@(>Ç=J('BAC(:>(:;L
(=@}CàCÇ;(=@(y(=@(?NzÇN

[(.6('()º*('-/()r)ó'%õ('()ë#"5,(
FC(A;:>C(Fz>?@(@(N5,%N'5-.()=@(AÇC(zN÷CJ(3ÇNAC=Ç>ÇC(>(zN÷CÇ;(B;;y|Ç;(
EzCA@@Ç(=@(y~>ÇC(;A(AÇC(?NzÇN(=>(yO@Ç@(=@(FÇCL
y>ÇCP(=@(yOC}@=>ÇC(Ö@A@Ç(z;|@(Ñ(>O@@Ç(}NA=@(FO>Fz@(@(
ÑNO;ÇC(FC(O=;EN(Ez@F=>(>(@P(>Ç=J((
5@~>Ö@(Ö@(E;zCO>(y;ÇÖ@(@(A@(O;G@Ç(zN÷CÇ;(A@(>O@@Ç(yFÇ@y(A;(>=É;>(=@FC?@AC(=>(
FBCÇ;ÇJ(&@?B@Ç@(y;ÇF;?;(=>B;J(3>ÇC(:>(FC(F;Ez@F>zC(
F;(;y|Ç@Ç@(?;=FÇ@Ç@~>Ö@(AC?@(>N}NB@àCÇ;(=@(FÇ(Ö@>?(C(=C;yÑ;A=@(
y;ÇF?>;Ç(Ö@>?(>EF?zN}>ÇCz=;(
B@G=@(Nz;E@P(?@?;(z>=EB@(É(?@?;(Ö@>?(?;Ö(FC?;Ö(O;(?@?;(=;O>=@zC=(Ö@>?(@(A@(FC(;FÇ@=C(B;(ÇC?(F;(=C>:CG=>ÇC(>(:(
>=É;}?>(yJ(
Häã
lOmO'U9åj>Ñ>';>'j8ãÑ89>Ñ>''åÑ9>;åj

4#1%#"*%*(,(á#-'"'%(&'(0*3%*&*%*(+'(*021,34,(4*4'(3%"*034,(JJJ
,(=@(?(y;?B@z(>(Ö@>?;Ç(
>(?NzÇN?;Ç(;A(?NzÇN?;Ç(?;Ö(:>(B;ACz(A;(y;=@Ç@O;|=;(>N}NB@àC(=@(?NzÇN'ª6'j8ãÑ89>'
&;(O;OC=Ç;Ç(=@(:;?(FC(B?zN}NB@(
Fy;F;:=;FÇ@(A@(FC(ÇN@~>>(B;(FC?;ÖA=CB=>;Ç(G>B;Ç(?;Ö@(
=C(y(zC?F>?@Ç@J('ÇÇ@ON(A;@÷@(>(
B@G=;FÇ@(>(y;ÇÇC(A@(FC(B?zN}NB@@Ç(B;(|Ç;(y;BC’C(?;ON=>L
?@Ç>B=>(@?Ç>B=;FÇ>(@(|Ç;(y;zCF=;(A@(O;G@Ç(A@(E>(F;EzCANB@@(>(A@(A;:>Ö@Ç(
y|Ç@Ç@(>(FÇ@B;B>ÇC(|Ç;(ÇC(E;B;ÇCz>(=@(~Cz=>;Ç(
Ö@>?(E>(y;FCANB@@ÇJ(*=@z;E=;(=@(?@G@=;Ç;(A;FCE@P(:>(=@BCzC(CAC=(yOC?@(>z>(;:>}@Ö(B;(-@?CA;=>Ö@(C(y(Fz>(}CFÇ>Ç@àC(A@(FC(:@?=NB@(
Ç(y@Ç>J(3C?@?;(Ç;@(=C(C(FzN}@Ö(B;(COÖ>ÇC(?@AC(@=Ez>F?>;Ç(C(O@Ö}>=(Ö@>?J(
3;FÇ;Ö:>ÇC( >( ÇC( CA=;FÇ@B=;( =C( FC( >( =C( ÇA@Ç( Ç;z?N( Ö@F=;(
J(.zCOC=Ç>ÇCP(?@?>ÇC(?@?;(>(y;CA>=;FÇ>ÇC(B;(?NzL
ÇN?>(>(OCÇ;A>(A@(FC(A;=CFC(?NzÇNÇC(
?;>(E;(>N}NB@@Ç(FÇ;Ç(Ö@>?(=@(=@}>=(?;Ö(’C(:>AC(>(>=ÇC(CAN?@L
Ç>BC=J(+@ÇNB@àC(F;(FÇNAC=Ç>ÇC(A;(4;BC=Ç(2@(:>(:>z(
=@ÖA;:@=(A@(F@(A;:>C(Fz>?@(@(?NzÇN}@=>ÇCJ(0;(FC(L
Ö@Ç@(AC=CF(O=;EN(
yA;=CFNB@@Ç(?@Ö(>=BC=Ç>B=>ÇC(=@FÇ@B=>~>(y;(FÇ(Ö@>?J(,B@A;~>(
;A(y;=@z=>(ÇCzCB>>>P(ÇCO>(@?ÇNCz=>(@(~Cz=;Ç;(;y|ÇCFB;P(
Ç@?@=CÇC(Ç;?L|;N@(?@AC(ÇC(E;B;ÇCz>(FC(B?zN}NB@@Ç(F;(FÇ@B;L
B>(>(O>FzCà@(?@}=>(@(=>B=@Ç@(?NzÇN(@(O;OC=Ç(B;(N’>z=>~@Ç@(’C(Ö@(A;=CF@Ç(~Cz=@Ç@(?NzÇN(=@FÇ@B=>~>ÇC(FC(yz@|@Ç(A@(FC(ByN|Ç@Ç(B;(=C|Ç;(@(|Ç;(=@@Ç(
AC?@(=C(FC(O=;EN(Fy(>(O;GC:>(?;OyCÇC=Ç=>(y@(=@Ö}CFÇ;(FC(AENOC(?NzÇNÇC(N}>z=>~>(F;(CA>=FÇBC=@(~Cz(=@(>=?zN>B=@(>(NFyC|=@(y?@J(
Häâ

[(.6('()º*('-/()r)ó'%õ('()ë#"5,(
uO'ecQ$'
uOlO'8ëç9çÑ'j>jç'è6:>áçïj>'>ã>Ñj>
áNO;F?zN}>ÇCz=@(B@G=;FÇJ(3>ÇC(CO;~>>(FC(@(>(A;?;z?N(NFyCCOC(A@(F;A@ACOC(yÖ@Ç=@(>(;yN|ÇC=@(@ÇO;FÉC(E;A>=@Ç@(=>C(BC’C(FOC(A;:>zC(y;z;B>=@(;A(
:>Ç?@Ç@J(3OCCàCÇ;(Ö@(E;zCONB@(@?Ç>B=;FÇ@(=@(O;;?;Ç(F;(|Ç;(zN÷CÇ;(>O@@Ç(
y;E;zCO@(Fy;F;:=;FÇ(@(B;FyCOz>B;FÇ(=@(>=É;>(?@?;(>(y;E;zCO@(
:NA=;FÇ(@(;=@(|Ç;(FC(yz=>~@Ç@P(Ö@(y;A;:(FÇNAC=Ç;ÇP(>(|Ç;(C(>FÇ;(O=;EN(B@G=;P(E;(;zCF=NB@(>(y;A;:ÇC(y;(@=Ez>F?>(Ö@>?(C(:C=CÉ>Ç(@(FB>ÇC(FÇNAC=Ç>J(°@F;B>ÇC(y;(FÇ(Ö@>?(FCP(>z>(ÇA@ÇP(:@>(=@(?;ON=>?@Ç>B=@(>=ÇCÖ@(?@AC(@?~C=Ç;Ç(C(=@(BC}=@(
?;ON=>?@~>Ö@P(N}CFÇB;(>(>=ÇCÖ@J(áNO;FÇ>=@(FC(>O@(y;?@G@=;(
?@?;(A;:@=(A@(FC(A;yC(FÇNAC=Ç>(?;>(FC(yz@|@Ç(>z>(FC(=C(A@(FC(>(B;(BÇ;;Ç(Ö@>?J
Hää
uOmO'8ëç9çÑ'j>jç'çé6ã6¡â6'FÇ;(Ç@?@(=CE;B;Ç;(>NL
}NB@àC(?@?;(ACz(;A(CA=@(?NzÇNO(=NA>(=@(FÇNAC=Ç>ÇC(>(OC÷N?NzÇN(y;O@E@(B;(@F>zNB@àCÇ;(=@(>=ÇC

4#1%#"*%*(,(á#-'"'%(&'(0*3%*&*%*(+'(*021,34,(4*4'(3%"*034,(JJJ
y;Ö@B@Ç(?@Ö(FÇNAC=Ç>ÇC(?;>(E;(>N}NB@@Ç(@=Ez>F?>;Ç(Ö@>?(>(;A(?NzÇN(;A(z>=EB>FÇ>}?@(yÇC(>(C(y;BÇC(>(;F;:C=;FÇ>ÇC(=@(5Ç@=F?>;Ç(ÑNO;ÇC(yB@OC(>=É;>(@(ÑNO;(?;>(
:;;Ç(ÑNO;z>(É;Ç(A@(@?;(O=;EN(zN÷C(CA=;FÇ@B=;(=C(E;(
z>(=C(E;(FOCÇ@@Ç(@(FOC|C=P(yÇ;@(ÇB(AC?@(;AE;B;C(?@?;(=@~>Ö@(E;(FÉ@’@@Ç(ÑNO;(:>ACÖ’>(FC(
EC=C(;|Ç;(C(;B;Ö(ÑNO;(
EF?>;Ç(y@=@(>(|CE@Ç@(>(y;P(AC?@(y;z>Ç>}@ÇC(B;(y@(>(:>(=>(:>z;(
O=;EN(y;A;:BJ(
,E(BN}@Ç(>FÇ;(@(>O@Ç(}=;(=@}CàC(C(>FÇ;(Ç@?@(
?@?@( @( :Ç@=F?>;Ç( ÑNO;ÇC( yOC( FC( O=;EN:( >(
y;BÇ;(@(FÇÇCJ(4@?;(=@(yOCFÇ;(Ç@?@(®wiinf(C(É;FÇ;(
Ç@?@(BN}>(>(?@?;(CAC=(B>A(CzC=}N?J(
4@?;(|Ç;(Fy;O=@BOC(y;E;?@(K(FC(y

[(.6('()º*('-/()r)ó'%õ('()ë#"5,(
3z>?@(K
&;(}@F;B>(;A(B@?;B(B>A(=@FÇ@B=>?;Ç(ÇJ(!@(FC(
y(ACz(;A(?NzÇN(E>(yOC(@(yz>(FzN|@àCP(}>Ç@àC(>z>(y>|NL
B@àCJ(&@?B>ÇC(}@F;B>(:@FÇ(N}CàCP(?;C(FC?;E@|(FC(>Fyz@’@J
HIM
3z>?@(H
(( 3;( ~Cz( A@( FC( y;A;:( OC÷N?NzÇN

4#1%#"*%*(,(á#-'"'%(&'(0*3%*&*%*(+'(*021,34,(4*4'(3%"*034,(JJJ
FÇNAC=Ç;ÇP(=@FÇ@B=>?;Ç(Ç(COC(yA(>(FB;Ö@Ç@(?NzÇN(?NzÇNL
?;Ç(?;Ö(E;(>N}NB@J(&;(Fz>?@(H(>O@OC(yOCÇC(:>(O;GCzC(A@(FC(;:>A@Ç(=@(?ÇC(>=É;>(
|Ç;(E>(A;:>zC(;A(=@FÇ@B=>?;ÇP(A@(=@y(B;(
?;=?;Ç(FzN}@Ö(=@(ÑNO;Ö@(>(5Ç@=>Ö@J
VTS\$"Se$"'
aïprv(ôJP(ômporn(TJ(¨KII§J(Virgósno(rnk(îirpnsno(îrnolroi(rnk(glîhlpi{(ôlîhsîsnolrî(
vrhhipjJ
üprvjgóP(TJ(¨KIIçJ(Tmnhih(rnk(glîhlpi(sn(îrnolroi(hirgósnos)Sòmpk{(Sòmpk(\nsuipjshï(
^pijjJ
drppsj(ôJP(ômip(XJP(Rsèmpïnjèr(QJ(¨HMM§J(Sññlphlnshsij(\ññip(snhipviksrhiLRhlkinhfj(
wmmè(¨HMPHK{(ZmnovrnJ
drppsj( ôJP( ômip( XJP( Rsèmpïnjèr( QJ( ¨HMM§J( Sññlphlnshsij( \ññip( snhipviksrhiL
Virgóipfj(wmmè(¨çHLçâ{(ZmnovrnJ
XsgèsnjmnP(XJ(¨KIIäJ(Vói(dlvmp(Zmlnoiæ(dlvmp(rnk(hói(ôlîhsñîi(UnhiîîsoingijJ
ZmmvrP(`J([JP(ômmjrusP(RJ(QJ(¨KIIäJ(\jsno(dlvmp(hm(Virgó(Rhrhsjhsgjæ(ôljh(hóiï(wi(
Sphómomnrî¬P( ^rñip( ñpijinhik( rh( hói( rnnlrî( viihsno( mò( hói(Qvipsgrn( Yklgrhsmnrî(
`ijirpgó(QjjmgsrhsmnJ
9797
T\ZV\`Y(QWX(d\ôS\`(UW(VdY(VYQTdUW[((
Sb(YW[ZURd(QR(Q(bS`YU[W(ZQW[\Q[Y
a

[(.6('()º*('-/()r)ó'%õ('()ë#"5,(
%@ÇÖ@=@(#z@=F?@{
#=>BCÇCÇ(2;~C(!Cz}CB¥L$Ç>yP("(-@?CA;=>Ö@
iLvrsî{(hrhìrnrJlîrnjèrÀlokJiklJvè
3=CG@=@(4>BCÇCÇ(2;~C(!Cz}CB¥L$Ç>yP("(-@?CA;=>Ö@
iLvrsî{(jnirnrJèspmurÀlokJiklJvè
HIH

-0%Q0(0Z&#2*2*-0T
"RSQRTcT&"'Å'hQcQ»'e'e\ge'$eceR!PQ]'
&\WTP"'P"Q'!S$"RQ]
+;(FzC(KIIMJ(E;(A>(=CP((Ö@(ÖC(y;(?(ÖC(A>=(FÇBC(=>O(=@(}>(=>(O@P(OC(Ç;(A@(O@(
>(y(FÇN(y>(O@(N}C(à@((?@(?@;(FÇ(?@P(=@(}@Ö(=N(
Nz;(EN(>O@(ÖN((~>{(F>(=;(=>(O@P(@=(Ç;(=>(O@P(y@((O@P(>ÇAJP(?@;(>(NFB@(Ö@(àC(FC(O@=L
Ç>}(?>Ñ(@FyC(?@(Ç@(@=(Ç;(=>(O@(?;(ÖC(ÖC(B@(G=;(N(;A((B@(àN(ÇC?(FÇN(@z(=>Ñ(BC(|Ç>(=@(FÇN(AC=L
Ç@((?@J
ëï4N)'%)"%)N#{(@=(Ç;(=>(O>(Ö@P((ÖC(>?P((~>(@=(Ç;(=>(O@J
1C?(FC(OC(?;(ÖC(N(ÖC(>}(?;O(F>(FÇC(ON(;=@(}@(B@(ÖN(FN(yL
Ç>(y;(BC(@(=C((}>(Ç>O(;A(=;(F>(O@{(Ç;(O;(EN(:>(Ç>(Ç>(y>}(=>(@=(Ç;(=>(O>(¨A;(:@O@(Ç>(>(Fz;(GC(=>(Ö>(?@(}(?@(BC(@(=C(O;L
(Ç>(y;A(BC(AC(=@(y;A(FÇ(y;(Ö@O(zC?(F>}(?>Ñ(@=(Ç;(=>(O@(¨=y(=@Ö(}C(|DC(>(
y@(E(O@Ç(F?>Ñ(;A(=;(F@(>(;Fz@(à@(FC(=@(FC(O@=(Ç>}(?@(FB;Ö(FÇB@(FN(yÑ(P(A;?(FN(F>=(Ç@E(O@Ç(F?>(;A(=;(F>(N(AO>(>O@(ÖN(B@(G=N(Nz;(EN(N(>((;:;(E@(D>(B@(àN((?@(=C(?;E(
FÇ(?@J(*=(Ç;(=>(O>(Ö@(>(@=(Ç>(ÇC(@(?;((FÇC(FC(?@;(OC(Ñ@(=>(O>(?@(ÇC(E;(L
@(~>(ÖC(y(yF(y;(Å@(B@(àC(Fy;(F;:(=;(FÇ>(;FO>(|Å@(B@(à@(N(
F?z@(AN(F@(A;(O>(=@=Ç(=>O(FÇC((y>(O@(>(y}(?;O(¨CÇ>}(?;OP(=;BL
=;OP(B@F(y>Ç(=;O(;(ÖC=(Ç@(~>(Ö;O(E;(B;(?@¥(¨swkJJ(
+;(}CB(|>(;A(HMMMJ(E;(A>(=>P(N(BC(D>O(N=>(BC(ÇCÇ(F?>O(~C=(Ç(O@(N("N(ONL
=>(Ö>( N( ?;(Ö>(O@( FC( ;(N(ÖN( ?N( (?@( ?@;( FÇ(?@(
;:(Ö@(BÅC(=C(FN(:(ECP(E}(?C(F>=(ÇC(CP(?@;(>(:>O(y@(E(O@(O@(?;(ON(=>(?@(~>(ÖCP(z>=(EB>(FÇ>(?C(>(
=@(FÇ@(BC((?@P(F(~>(ÅCO(A@(;=C(?;(Ö>(FN(@(>=(ÇC((@((ÖC(>?P(Ny;(=@(ÖN(=C(F@(O;(F@(àC(E;(B>O(E}(?>O(FÇOP(F>=(Ç@?(F>}(?>OP(>ÇAJ(BCD(>(F@(O(B(O@J(
HIç

HI§
L#"3#'#6()!575,#
!>(@Ö(=>(( >( yC(BC( FÇN(AC(=@(Ç@( (?@P( y(z@(E;(C(=C(
>=(ÇC((O@(>(=>(B;(>(O@(=@(à@(FÇ((B>(|C(=>(FN(ÖCA(=;(FÇ@BL
=C(:>(F>(=;y(Ç>}(?>Ñ(Ç@(:C(z@(?;(ÖC(y;(?(B@(ÖN(@FyC?(ÇC((F@(A@(>O@(ÖN(ÇC=(AC=(~>(ÖN(A@(=@(Ez@(|@(B@(ÖN(=@(?;(Ö>(=@(}>=("N(ON(=>(
FÑB@(Ç@(ÖN(>(;:(z>(?N(ÖN(FÇB@((~>P(y;(}CBL
|>(;A(FÇ@=(A@Ñ(y@(A;((?@(F>(=;(=>(O@P(@=(Ç;(=>(O@(>(y@((O@J
3Ç(>(Fz;(GC(=>(Ö>(?@((ÖC(N(;A(=;(FN(=@(A}(?C( FÇ(O>(ÖCP( y;(z>(FC(O>(ÖC( }>(=C( ÖC( =@(}@Ö(=>(Ö>O( F(?@(¨5Ñ(CzC(OC(=@(Ç@(N(O(ÖC(>L
~>(O@P(@(ÑB@(ÅN(ÖN(D>(y;(FÇ;(Ö@(àN(y;(ÖC(A>(=>Ñ(z;(E>}(?>Ñ(>(yF>(Ñ;(z;(|?>Ñ(;y(|ÇCL
A;(FÇNy(=>Ñ(OC(Ñ@(=>(@(O@(¨3(>O@(ÖN(N(FB@(?;O(ÖC(>(?N(FB;(ÖC(FyC(~>(É>}(=;(FÇ>P(@(Ç;(=@Ö(:;(ÅC(O;L
GC(O;(B>(AC(Ç>(@?;(F>=(Ñ(F>=(Ç@E(O@ÇL
F?;E(;(;(B@(à@(@=(Ç;(=>(O@(N(ÖC(>(~>(O@(?;(Ö>(FN(y=L
Ñ(y(FÇNy(@=(Ç;(=>(O>(O@(¨zC?(F>}(?>O(>(E}(?>OP(Ez@B(=>(?(ÇC((ÖNO(
@(>(:;(@=(Ç;(=>(O>(?;(Ö>(FC(=@Ö(}C(|DC(?;((FÇC(N(FB@(?;(A=CB(=;O(E;(B;((ÖC(F?NP(KIââ{(§çJ
#(FÇ(?;L
ÖC(FN(z>(|C(=C(@=(Ç;(=>(O>(ÖCæ(ÇC(;:z@(FÇ>(ÖC(2C~(?C(zC}(?>O(
z@(?N(=@(O@¥J(%N(Fy@(A@(ÖN(=@(>(B>(G>(B;(Ç>(à@P(:>(Å@(?@P(y(ÇC(=>(O@(?@;(|Ç;(FN(9:)>GA:)=9);@:>l):@|:iG9bA>l(
(=C(E@(Ç>B(=C(y;(É;P(@z>(y;(>(Ç>B(=C(y;(FO>(FzNP(?;(ÖC(FC(z;(E>}(=;(=C(FNL
y(Ç>B(=>O¥(ÇC(=>(O@(¨5

*0%'0,-,6*(L(+'-'Æ(#(#°./#("#-#034'2(6.),4*(4*'(3%"*0'2
"J(P9CF=l)bAG9>Af9Cl)fCy:Hl)bl)=y:;@GF=
.J([SSX H (8(gmvñrjjsmnrhiP(górpshrwîiP(((((((((((( YJ( ( T`\YZ( 8( lngmvñrjjsmnrhiP(
( ( ( ( ( ( wplhrî
((((((((ommkóirphikP(èsnk( ( ( ((((((usmîinhP(plhóîijj
3J(O>z;Fz@ÇP(yFÇ;Ö@=((( ((((((( =CO>z;F~@O@
"J(){@G>l)iG9B>l)BGzE9>l)bFB>) ) ) ) :@{@G>l):@iG9B>l):@BGzE9>l):@bFB>
YJ(wmsîikP(pmrjhikP(òpsikP(wrèik( (((((((((((( ( prP(lngmmèikP(prpiP(órîòLwrèik
3J(?NB@=P(>FyC}C=P(y

L#"3#'#6()!575,#
Y{(oinlsniP(rlhóinhsg( ( ( ( piñpmklgikP(òrèi
T{(yP(;E>=@z@=( ( ( ( z@G=>P(=C;E>=@z@=
i(¨kijñpi(himpssP(vihmkiP(sñmhiiP(jmîlssP(pilîhrhi(£(ªmò(hóimpsijP(vihómkjP(óïñmhóijijP(
jmîlhsmnjP(pijlîhj£(;(ÇC;Ö@O@P(OCÇ;A@O@P(Ñ>y;ÇC@O@P(O@P(F;zN~>Ö@O@
"{(bFG@b>l)@ñAb>) ) ) ) ) 9:bFG@b>l)9:@ñAb>l)@GF:A>
Y{(gmppighP(rgglprhi( ( ( ( sngmppighP(snrgglprhiP(ippmnimlj
T{(?;Ñ(y~>O@P(FÇNAC=Ç>O@
^{(bABAf9Cl)bFPB@>@:>l)BG@;z>9>) ) ) :@BG9b@Bl) 9:bFPB@>@:>l)
) ) ) ) ) ) :@BG@;z>9>
@{b9@:>l)H@~>@B>) ) ) ) ) 9:@{b9@:>l)BGF=>
Y{(grñrwîiP(gmvñihinhP(jèsîîikP( ( ( sngrñrwîiP(sngmvñihinhP(lnjèsîîikP
iòûgsinhP(snhiîîsoinh( ( ( ( sniòûgsinhP(jhlñsk
T{(Fy;F;:@=P(?;OyCÇC=Ç@=P(NFyC|@=(((((((((( ( =CFy;F;:@=P( =C?;OyCÇC=Ç@=P(
=CNFyC|@=
>=ÇCz>EC=Ç@=( ( ( ( ((((((((((((( =C>=ÇCz>EC=Ç@=
åJ(a\W(( niwln(rkìJ(vJP(niwlnƒ(òJæ(ñîJ(niwlnsP(niwlni
L( zNAP( D@?=NÇP( |@|@BP( :CNO@=æ( z@?;O>FzC=P( =Cy|ÅC=P( =C?P(NO;:;z=>?
r(¨kijñpi(gmñss£(ªmò(gósîkpin£(;(AC~>
"{(b@l)A=bz>FG) ) ) ) kfyPBzGA>l)
) ) ) ) ) ) :@C9:9~>9>
Y{(nsgiP(mwiksinh( ( ( ( ( ñîrïòlîP(nrloóhïP(ksjmwiksinh
3{((A;:@(à>Ñ>B>O(
>Fy;Å@B@à>O@
^{(bJ9fkl)=FbF>9>l)|:Ë@C@B>) ) ) :@bJ9fkl)BGF=>@=bl):@f

*0%'0,-,6*(L(+'-'Æ(#(#°./#("#-#034'2(6.),4*(4*'(3%"*0'2
T{(y|ÅC=P(yO@P(N?NF>O@(
^{(BCzb) ) ) ))))) ) »bAG@) :FGl)
) ) ) ) ) ) :@;F=ù
Y{(ñîirjrnh( ( ( ( ((((( lnñîirjrnhP(jviîîïP(lnhrjhï
T{(zCy;(((((((((((((((((((((((((((((((((((((((((( ( ( ?;ÖC( =>ÖC( yÖ@Ç=;P( =C( O>|C(
( ( ( ( ( ( zCy;P(=CN?NF=;¥(
w(¨kijñpi(ripP(rhvmjòipƒP(vikslP(jmgsihrhi£(ªmò(rspP(rhvmjñóipiP(inuspmnvinhP(jmgsihï£(;(
B@ANÑNP(@ÇO;FÉCP(F=>P(A

L#"3#'#6()!575,#
(jrhsjòïsnoøP(jlñipsmp(((
lnjrhsjòïsnoøP(snòipsmp
T{(@A;B;Å@B@ÖND>P(?B@z>ÇCÇ@=(((((((((((((((((((( ( =C@A;B;Å@B@ÖND>P(
=C?B@z>ÇCÇ@=(
i( ¨kijñpi( gpirss( s( vrnsòijhƒps( rîi( jñspshlîls( £( ªmò( jñspshlrî( gpirhsmnj( rnk( ksjñîrïj£( m(
FÇB@(O@=>ÉCFÇ@~>Ö>(ANÑ@((
"{((QACFGF=l)=?@( ( ( ( ( O@z@
ó(¨kijñpi(ómhiîlpsP(grvipiP(vmwsîsip(L(jgrlniP(òmhmîssP(ñrhlps(£(ªmò(ómhiîjP(pmmvjP(òlpnshlpi(
8(górspjP(rpviórspjP(wikj£(;(Ñ;ÇCz>O@P(F;:@O@P(=@OC|Ç@ÖN(8(FÇ;z>~@O@P(É;ÇCÅ>O@P(
?O@
"{(bF:iFG>Af9Cl)bFPFH)) ) ) ) :@bF:iFG>Af9Cl)9:bFPFH
Y{(gmvòmphrwîiP(gmï(( ( ( ( gmvòmphîijjP(ksjgmvòmphrwîi
T{(?;=É;O(;F;:>=@O@¥( ( ( F@(=CE@Ç>B=>O(;F;:>=@O@¥
w(¨kijñpi(mrvins(£(ªmò(ñimñîi£(;(ÅNA>O@
"{(f9:@QF9>FGl)BG9@>@:F=l)APAf9C) ))) ) GzFGl) :@BG9@>@:F=l) :@APAf9Cl)
H(@=@Çz>Ö@O@
HIä

*0%'0,-,6*(L(+'-'Æ(#(#°./#("#-#034'2(6.),4*(4*'(3%"*0'2
"{(|:H@Py:A>9bl)Af9C)) ) ) ) :@|:H@Py:A>9bl) =>y:;Ab9l)
|:b@Bz>FG
Y{(iñipsingikP(grñrwîi(( ( ( ( sniñipsingikJ(gîlvjïP(rvrhilp
T{(BC|ÇP(>F?NF@=((((((((((((((((((((((((((((((((((((((((((((( =CBC|ÇP(=C>F?NF@=
k(¨kijñpi(uihs(£(ªmò(nij£(;(BCFÇ>O@
"{(BCzbl)A;G@Af9Cl)f@:@{b) ) ) :@BCzbl)BGF=>l)H@kA;G@Af9C
Y{(òrumlprwîiP(òmphlnrhi(( ( ( ( òrumlprwîiP( lnsòmphlnrhiP(
ksjhlpwsno
T{(zCy@P(yÖ@Ç=@P(A;:

L#"3#'#6()!575,#
r( ¨kijñpi( ñpmòijsmnshs( s( vijipsrs£( ªmò( ñpmòijjsmpsrîj( rnk( gpròhjñipjmnj£( ;(
y;=@z~>O@(>(@=@Çz>Ö@O@(
"{(((BG@;z>9>) ) ) ) ) :@BG@;z>9>)
Y{(iîî(hprsnik(((((((((((((((((((((((((( ( ( lnhprsnik
T{(;:O@(>(NOCÇ=>~>O@(
"{(((>AC@:>A>)) ) ) ) ) :@>AC@:>A>)
Y{(hrîinhik(((((((((((((((((((((((((((((((((((( ( ( lnhrîinhik
T{(Ç@zC=Ç;B@=( ( ( ( ( =CÇ@zC=Ç;B@=
g(¨kijñpi(iîiusP(jhlkins(£(ªmò(ñlñsîjP(jhlkinhj£(;(N}C=>~>O@P(FÇNAC=Ç>O@
"{(((9:>@C9;@:>l)H@~>@B>l)bABAf9Cl)) ) ) BGF=>l)9:bABAf9Cl):@BG@;z>9>
BG@;z>9>)
Y{(snhiîîsoinhP(gîiuipP(grñrwîiP(( ( ( jhlñskP(sngrñrwîiP(lnhprsnik
iîî(hprsnik
T{(>=ÇCz>EC=Ç@=P(y@OCÇ@=P(Fy;F;:@=P(((((((((( @ÇN~@=P(=CFy;F;:@=P(=C;:l)b) ) ) ) Q9b9A>l)BFC
Y{(òpijóP(gîirn(( ( ( ( ( (jhrîiP(ñmîîlhik
T{(FBCGP(}>FÇ( ( ( ( ( y;?B@O@(
=z:z>F=l)>AG@l)B@G:9b)) ) ) ) bAG9A>l)=BAG>l)GAG))
)
Y{(jmlnkP(jhpmnoP(órpk( ( ( ( grpsmljP(wpmèinP(jñrpji
T{(Al)BG@H)
Y{(òpijóP(viîîm(((((((((((((((((((((((((( ( ( jhrîiP(jñmsîikP(ñlhpsk
Yk'A

*0%'0,-,6*(L(+'-'Æ(#(#°./#("#-#034'2(6.),4*(4*'(3%"*0'2
#y;((@=(Ç;(=>(OC(>((?@(A;(z@(>L
O;(A;(@(?ÅN}(?@(A@(y;(FÇ;(ÖC((?C(N(?B@=(Ç>(ÇC(ÇN(¨(?C(?;(ÖC(FC(Ç>(}N(;yL
FC(E@(@=(Ç;(=>(O>Ö(F?C(y@(E(OCJ(-;(GC(FC(B>(AC(Ç>(A@(FC(@(>OC(=;(B@(àC(>FÇ>Ñ(
FN(yÑ(y@((?@J(!;?(FC(N(
ÖCA(=;O(ÖC(>(?N(O;(GC(y(ÖC(A@=(y@(O@P(N(AO(ÖC(>(~>(O@(y;(FÇ;(ÖC(
ABC(FC((ÖC(>FÇ>Ñ(@(>((Ç>O(y;(Ç}(?;E(F>L
FÇC(O@(A@(y(?@(GC(y(à>(Ñ;(BC(?@((?CJ(,(?@(A@(y;(FÇ;(Ö>(y;ÇL
yN=(y@((@O(|Ç;(FC(Ç>(}C(FC(O@=(Ç>}(?;E(F@(A(
BC(z>(}>(=C(@=(Ç;(=>(O>Ö(F?C(C?B>(B@(zC=Ç(=C(y@(E(OC(N(AB@(>z>(Ç(ÖC(>(?@P(FO(FzN(}@(ÖC(B>(O@P((?C(N(=@(}>(=N(=@(?;(Ö>(}z@(=;(B>(;BC(yE(OC(
@?(ÇN(@(z>(N(ÖN(à>(Ñ;(BC(FC(O@=(Ç>}(?C(O;(D>(N(=C(?;O(?;=(ÇC?(FÇN(>z>(y(?@(N(ÖN((~>(Ö@''fFGl)BG9)@)>@):F=l)APA)f9C)r)Gz)FGl):@)BG9)@)>@):F=l):@)A)PA)f9Cl)H(|C(@=(Ç;(=>(O@(N(;?B>((>(:;E(FC(O@=(Ç>}(?C(A>(OC=(>(ÖC(¨?;(Ö@(ÖC((}>L
Ç@(N(FB@(?;O(;A(;B>Ñ(ÖC(>(?@(N(?;(Ö;Ö(FC(y(?@(N(ÖN(?@((?C(=C(?;E((FÇC(O@J
%@(?;(>O@(O;(@=(Ç;(=>(OC(fG9)bA>)S(A;(:@9)f9Cl)
:@)AC)>@)GA>r:@)bF)P@)=>9)f9Cl)AC)>@)GA>l)Q@b)J9S)iks(wîiP(irhr(wîi(L(sni(ks(wîiP(hr(sn(hikP(jñm(s(îik£(
ÖC(FÇ>(B@P(=C(y;(?B@((B@P(y;(?B@(F(yz>(;(B@L
AN(ÑN{(BGF)A)=Bz>l)b)r)Q9)b9)A>l)BF)CS)(òpijóP(gîirn(L(jhr(îiP(ñmî(îl(hik£(FBCGP(}>FÇ(
L(y;(?B@(z>(;(N(:>(O@(=z):z)>F=l)>A)G@l)B@G):9b)r)bA)G9)A>l)=BAG>l)GAGS)(
jm(lnkP( jhpmnoP( órpk( L( gr(ps(m(ljP( wpm(èinP( jñrp(ji£( A(F(;(@(~>(Ö;O(@=(Ç;(=>(O@(N((}>L
Ç>O(zC?(F>}(?>O(F>(FÇC(O>(O@P(@(Ç;(FN(>(:;(=@(>((O@(?;(Ö>(FC((?N(ÖC(;A(ÖCA(=;E(A;(A(?@J(3N(y((Ç>(=C(E@(Ç>B(=>O(y?(F>(O@P(=y9b)1):@|:H@Py:A>9bS)
i(ñi(ps(in(gik(8(sni(ñi(ps(in(gik£(>F(?N(F@=(8(=C(>F(?N(F@=J
*=(Ç;(=>(O>(O@(>(ÖCA(=;E(ÖC(>(?@(O;(EN(y;((B>(B@(zC=Ç(=>Ñ(ÖCL
A>(=>(~@(;A(E;(B@((>(F>(=;(=>(O>(F@(=C(E@(Ç>B(=>O(y?(F>(O@{(iG

L#"3#'#6()!575,#
r)l):@)iA)QF)GA)f9C)S)wi(r(l(hs(òlîP(òr(um(l(pr(wîiP(ns(gi(L(ln(jl(s(hr(wîiP(ln(òr(um(l(pr(wîi'('zC(y;P(
y(Ö@Ç(=;(L((É>}(=;FÇ(@=(Ç;(=>(O@(ÖCA(=;E(ÖC(>(?@(}>(=>(FC(O@=(Ç>}(?@(
FB;Ö(FÇB@(=;FÇ(?;(ÖN(F@(A(O>(>(?;(Ö@(>Ñ(>=(A>(B>(AN(@(z>(N(ÖC(N(;A(=;(FN(=@(
FN(y(AÑ(ÖC(>(?@P(?@;(>((?C(?;(ÖC(FC(Ç>(}N(?@(ÇC(E;((Ö@J(
*?;(NOC(O;(?@;(y(OCJ(%@(?;(C(O;(GC(O;((>(@(F(ÖC(>?{(?;((ÖCA(=;E(ÖC(>(?@(FN(y(=@(A(
Ç@(?;(|Ç;(FC(>@(:C((B@(zC=(Ç@=(ÇC=J(°C(FÇ;P(A@(:>(FC(y(?@(@(z@(FN(y}(?C(>z>(yC((É}(=C(É;GAG9A)CA>9:A)È)cF:>GAG9A)GFPA:9bAs)a9=>@PF:9P@CFG)
|:)CA>9:z)~9)G@q@ñ@C@)=AC@)|:)C9Pf9C@)GFPA:9b@s(alglpihs(QZZ(YklgrhsmnrîJ
Trñ(alnP(ôrpsnr(¨HMMâJ(a>9)|:)C

*0%'0,-,6*(L(+'-'Æ(#(#°./#("#-#034'2(6.),4*(4*'(3%"*0'2
(fimrP(YîinrP([rwpsiîr(asps(¨HMMãJ(jGAPPAG)iFG)eFF:9P9A)C@ñ9bACz)|:)C9PfA)GFPy:zs))Vsvsmrpr{(brgîrJ
%;zFÇ@Ö@P( 3BCÇz@=@( ¨HMMäJ( “'.#.%2() #) ('.5'#$#6() 1) '() $(.%"#6(*4) -"7-/#µ)
75-*5,#î(l)6NG=;Fz;BC=F?>(É>z;z;EP(>FFJ(ã§P(Ripwsrn(Qgrkivï(mò(Rgsingij(rnk(
Qphj(L(Unjhshlhi(òmp(hói(Ripwsrn(ZrnolroiJ
csniîipP(Snlòpsi(¨KIäKJ(OGFfC@P@)AC@)bFG@CAË9@9)H9:>G@)=9:F:9P@)~9)A:>F:9P@l)N(Rhlkss(s(
rphsgmîi(umsJ(UUJ(arsr(ôrpiP("NON=>Ö@J
crîkP(Zlgsr(¨KIâIJ(T:>F:9P@C@)|:)=9=>@P@P@C@)C9Pf99s)alglpihs{(Ykshlpr(
QgrkivsisJ
PQ$TÆ»\RT'$\RTfT
arnijglP(Qnkpiìr(¨HMMãJ(^9bË9F:AG)H@)A:>F:9P@s)alglpihs{(ammèîihJ
algrP(ôJ(>(csniîip(SJ¨KIâ§J(^9bË9F:AG)H@)A:>F:9P@s)alglpihs{(Ykshlpr(Yngsgîmñiksgƒ(
`mvnƒJ
csniîipP('J(¨HMMHJ(^9bË9F:AG)H@)A:>F:9P@l)umsJ(U(¨QLdP(umsJ(UU(¨dLõJ(Tîlì{(XrgsrJ
2DP(5Fz@B(¨KIä§J('+*%-/5r-"7-/5µ",(.-/#)"%N'#/s(ÜCÇ>àC{(':;AP(5C;E=F?@(?à>E@J)
!@Ö?;B>DP(6;B@=(¨KMM§J(]:;C9=Jra@Gf9A:)A:H)a@Gf9A:r]:;C9=J)H9b>9F:AGe)Fi)=e:F:eP=)
A:H)A:>F:eP=l)¢%N'#/)-#'5'#$()#)('.5'#$()-)ª5'%.-/#$)#2+5,5"5$s)5C;EF:9P@s)Tmnjhrnr{(Rhirlr(WmpklîlsJ
%;O>DP(->zC(¨HMMåJ(¢4$4'-/5)1-"7-/#)"%N'#/s)alglpihs{(Ykshlpr(Qgrkivsis(`mvniJ
>;8`;H;7#VDVD>;?
ZfQWVSW†ôUY(8(QUXY(ZfQ^`YWVURRQ[Y(XY(ZQ(ZQW[\Y(`S\ôQUWY(
TSôôY(ZQW[\Y(_V`QW[˜`Y
hD=

L#"3#'#6()!575,#
thprnoqpiJ(Viî(ijh(îi(grj(ruig(îfrññpinhsjjroi(ki(îr(îrnoli(pmlvrsni(gmvvi(îr(îrnoli(nmn(
nrhsò(in(Xtñrphivinh(kl(îr(îrnoli(pmlvrsn(ki(îr(brglîht(ki(ñósîmjmñósi(ki(Wmus(RrkJ
Xrnj(îi(ñpmgijjlj(kfrññpinhsjjroi(kflni(îrnoli(thprnoqpiP(ln(p‚îi(svñmphrnh(r(îij(ksghsmnL
nrspijP(îij(ksghsmnnrspi(kij(jïnmnïvijP(rnhmnïvijP(ñrpmnïvi(ihgJP(ñlsj((îfrkmñhsmn(kij(
rjñighj(jtvrnhsúlij(kfrnhmnïvij(ih(jtvrnhsúli(òrsh(svñmphrnh(krnj(îfthrwîsjjivinh(kij(
gmvñthingij(hihliîîij(kij(thlksrnhj(ki(îr(îrnoli(pmlvrsniJ
oF>=rbCD{(îi(pmlvrsn(gmvvi(îrnoli(thprnoqpiP(rnhmnïvsiP(ksghsmnnrspi(kij(rnhmnïvijJ(
&>=>Ö@(+;y;B>D
#=>BCÇCÇ((N(0;B;O(3rANP(3Ö@
7>z;;ÉF?>(É@?NzÇCÇ
CLvrsî{(ñmñmusgJuspkìsnsìrÀovrsîJgmv
çM§

Z,R,(&#%,$R0
ehQS$\æ"'"eS\RSTRT'h\!"c"'e'R"!S"UT'
!$h!PQ]'&\WTP"'P"Q'!S$"RQ]'
3Ç(ÇC((Ç>B(=>O(;~C(=@(O@(ON(>(?C(?@;(ÖCA(=;E(;A(F(Ç>(N(FB}(?>Ñ(BC(|Ç>(=@(FzN(|@(à@P(}>(Ç@(à@P(y>(F@(à@(>(E;(B;(((Ö@(à@(?Nz(ÇN((ÖCJ(*?(~C(=@Ç(FC(FÇ@(BÅ@(=@(>(:;(=N(AC(FC(ÇCÑ(=>(?C(?;(ÖC(;O;(EN(DN(ÖN(à>(Ñ;(BN(FBF(Ñ;A(=N(Ny;(Ç(O@J(+(?@(N(ÖN(FC(@?(Ç>B(=;(FÇ>(?(E;(B;(=CJ
ëï4N)'%)"%)N#Ç'B;(?@(:N(z@(E;(B;}(?C(BC(|Ç>(=CP(?Nz(ÇN((?@P(yCL
FOCP(F(ÖC(>?P(FÇ£A(ÖC(>?P(ÇCÑ(=>(?CL
lO'S\'Q'$T&'!PQÅc\'SQ'#Q'VQ'ÆP\'Q!RQ'U\'T'T!'S$"'%T'U"'g"
+;(FzCA(àC(ABC(AC(~C(=>(ÖC(OC(Ç;(A>(?C(=@(FÇ@(BC(FÇÑ(ÖC(>(?@(}(=>Ñ(yC(F@(O@(N(=@(FÇ@(B>J(-=;(E;(ÖC(=@(}>(=@(
=@(?;(ÖC(FC(yC(FOC(O;(EN(>F(?;((FÇ>(Ç>{(;A(Ç(~>(;(=@z(=>Ñ(BC(G:>(A;(yN(à@(B@(à@P(
y(N(?;(Ö>(O@(Ç(£FÇ>(Ñ;(BC(y;(yz(=;O((F?N(F>(Ö@J( 4;(Ö>( E;A( =@(}>=( Ny;(Ç(z>P( =C( FOC(O;( @(:;((Ç>( A@( FN(
yC(FOC(N(;F=;(B>(ÇC?(FÇ;(B>(@(FzN(|@(àCP(ÇC(FC(:>(z;(?;(Ö@(@?(Ç>B(=;FÇ(=@(OC(àC(=@(
(Ö@(àN(BC(|Ç>(=C(FzN(|@(à@(O;(GC(N(à>Ñ(?;((FÇ>(Ç>J('F>O(Ç;(E@P(yC(FOC(FN(
>AC(@z(=C(>(@((Ö@(àC(;FÇ@(z>Ñ(ÖC(>}(?>Ñ(BC(|Ç>(=@P(@(NBC(G:@(B@(àC(zC?(F>(?CP(
E(?C(>(>(E;(B;(Ñ(yC(F@(O@(N(=@(FÇ@(B>(y;(>(Ç>B(=;(NÇ>(}C(=@(N}C(àC(FÇB@L
}(?C( @=?(F>(;(=;(FÇ>P( y;AL
FÇ>(~@(àCO(>=(ÇC((y;(A>(@(àCO(O;(Ç>(B@(~>(ÖCJ(!BC(ÇC(;((ÖCP(?;(ÖC(?;((z>=(EB>(FÇ>(?C(>(yF>(Ñ;(z;(E>(ÖCP(;y(yC(F@(O@(N(
N}C(àN(FÇ

÷%*%'()¢%0*#
lOlO'P96'ï6';ç'Ü>'Ñ6'ç'9'ª8':98'áçá'â6'ä(µ#)75).%)2()5)(ª%/).#,r
'5$)ª#*)."4)¨üprj(óin(KIäKJ(+

#+'%".5*(*#%.0%,°0,á(+.3*-*(#(0*3%*&,(3"+34'2(6.),4*(4*'(JJJ
?;A(N}C(=>(?@(DC(FC(=C(E;(B@(Ç>(ON(>}(?@(>=(ÇC(z>(EC=(~>(Ö@P(@(;=>(?;A(?;(Ö>Ñ(ÖC(;B@(
B=(ÇC(z>(EC=(~>(ÖC(ÖCA(=@(;A(A;(O>(=@=Ç(=>(Ö>Ñ(>O@(DC(B>(|C(?;((FÇ>(;A(}@(F;(B@J
lOuO'Tå'Ñ9>'¡
3(~>(ÅCO(A@(FC(NÇB(A@(z>(yC(FOC(O;(EN(@?(Ç>(B>((NFB@(Ö@(àC(>(N}C(àC(N(
;:C(O@(ÑC(O>F(ÉC((A@(z>(>O@(ÖN(B(}@=(
=@(FÇ@B(=>(>(B;(Ö>((y;(Ç(;A(y(?@P(?@;(>(ÖC(>?P(>O@(F>=(Ç@?(FNP(ÇÖJ(A@(;:;(ÖC(
y;(FC(AN(ÖN(FÇO(y(z>(O@P(Ç>O(=C(N((ÇN(Ç@(?;E(=>(Ç>B(=C(=C(N((A;(|@;(A;(;Ç(?(D@(A@(FC(>(ON(>(?@(>(ÖC(>?(;:(F(Ç;Ö(;:z@(FÇ>(
O;(E@P( ÇBJ( 5(=;Ö( ;:z@(FÇ>P( ÇC( FC( O;(EN( y;(BN(D>( y@((z>=(EB>(FÇ>}(?@(F>=(Ç@?(F@(¨ôr(ijjP(üm(iîgóP([ln(hip(rnk(bps(iL
ki(ps(gs(HMMK{(å§çJ
3Ç>(BC=(4F(Ç(B@(à@(=C(N(L
(F@(àN(O;(GA@(=>Ñ(
ÑC(O>F(ÉC((Nz;(E@(O@(N|>(ÖN(N(;B;O(y(Ñ;(Ç>}(?;O( FzN(|@(àNJ( "C(Nz(Ç@(Ç>( FN( y;(?@(@(z>( A@( yC(FOC( O;(EN( FÇ>(ON(z>(F@(Ç>(
N}C(àC(ÖC(>(?@(N(AC(F=;Ö(ÑC(O>F(ÉC((?;(Ö@P(y(z>(?;O(;:((?@P(y;(FÇ@(ÖC(@?L
Ç>B(=>(Ö@(N(C?F(Ç(;:((E;(B;Ñ(É;P(4z@(N(A>(Ö@(3O>Ç(3@z(FC(A;(¨Rrî(gi(km(HMMH(
>F(Ç(z@(ÖC(N}>=(?C(yC(F@(O@(=@(y(FC(D@(àC(ÇC?(FÇ@(>(=C(B;Å(=;(OC=(Ç@z(=;(y;L
=@(BÅ@(àC(?;A(;A(Ñ(N}C(=>(?@J(3BC(N(?Ny(=>((y;(?@(@(z>(FN(A@(ÖC(?;A(
N}C(=>(?@( ?;(Ö>( FN( FzN(|@(z>( yC(FOC( à>(Ñ;B( N}>(=@?( =@( y( ÉC(=;(OC=(
:>;(ÖC(BC(D>(=C(E;(?;A(;=>Ñ(?;(Ö>(FN(}N(z>(F@(O;(E;(B;(

÷%*%'()¢%0*#
mO'TW'æQ$'h\'!"'c"
,(:;(O@J(5C(;:(>(?(
;A@(:(E(?@(O;((Ç>(N(F?z@(AN(F@(=@(FÇ@B(=;O(ÖC(A>(=>(~;O(?;(Ö@(FC(=@(}@(FN(;:((F@(ÖCL
>}(?>O(=>(B;(;O(N}C(=>(?@J
-;(ÖC(>F(?N(FÇB;(N(=@(FÇ@(B>(FÇ(?@(y;(?@(@(z;(ÖC(A@(Fy;(=(ÇC((?@P(y;(FC:(=;(N?;(z>(?;(FC(yC(FO@(?;((FÇ>(=@(
?(~>(BCD(A;(:>(z>(O=;(E;(>=(yN(Ç@P(y@(>O(ÖC(y;(ÇÑ(;(Ç>J(-C(N(Ç>OP(N?;(z>(?;(ÖC(}@F(:>;(BC(;(O@(A>(=@(O>(}@=(
>(N}C(=>(~>(BC(;(O@(@?(Ç>B(=>P(=C(?@(Fy;((Ö@(yC(FO@P(Ny;(ÇB(=;(FÇ>(N(
?;(Ö;Ö(Ç(OC(|@(=C(FÇ>(Ñ;(BCP((N}C(=>(~>(O@(DC(:>(Ç>(
;A(?;((FÇ>(?@;(BC(G:@(}>(Ç@(à@P(@(=@(FÇ@B(=>(~>(O@(?@;(@?(Ç>B(=;FÇ(@(;A(F~>(yz>(=CJ(%@(?;(C(ÖC(B@(G=;(A@(>=(FÇ(N(yC(FO>(=C(:N(AN(y(A@(
=C(:>(@(EzN(|>(z>(yC(B@(}CB(Ez@FJ
uO'"P'STU'RQ'!ST'T'S\'RT'P\
&CD(FO;(B>(AC(z>(A@(((>F(Ç(B@(à@(;y(
Ny(=>(=@(?;(ÖC(FC(O;(GC(>F(?;((FÇ>(Ç>(CAN(?@(Ç>B(=@(B(?@(?;(FC(@NÇC=(Ç>}(=C(yC(FOC(=@(F(?N(O;(EN(>FL
?;((FÇ>(Ç>(@((Ö@(àC(ÖC(>}(?>Ñ(BC(|Ç>(=@(FzN(|@(à@P(E;(B;((y>(F@(à@P(?@;(
>(@(y;A(N(}@(B@(àC(E(~>(>(zC?(F>(~>J
%CÑ(=>(?C(B@(((F=;(;A(N((?@P(?@;(>(;A(à>(Ñ;(B;E(ÖC(>}(?;E(
=>(B;@J(0@(FÇ@B(=>(y(ÖCO(FC(F(|ÇN(=@(z@(C(@NÇC=(Ç>}(=C(yC(FOC(?@;(
F(?@P(O;(E@;(:>(FC(y;(AC(z>(Ç>(N(Ç(É@(C{(K(@?(Ç>B(=;(FÇ>(
yB(=;(FÇ>(Ç;(?;O(FzN(|@(à@(yC(FOCP(>(ç(@?(Ç>B(=;(FÇ>(
=@(?;=(FzN(|@(à@(yC(FOCJ
çMä
uOlO'"j'Ñ'è6'åë6
'F>O(|Ç;(;BC(@?(Ç>B(=;(FÇ>(y(:;(E@(DC(àN(
B;(?@(:N(z@((?;((FÇ>(FC(y(=@(E;(B;((F=;(;A(
~>(Å@(?;(Ö>(FC(GC(z>(y;(FÇ>(D>(Ny;(Ç(Ç>(FzC(AC(DC(
ÇCÑ(=>(?C(?@;(y(y

#+'%".5*(*#%.0%,°0,á(+.3*-*(#(0*3%*&,(3"+34'2(6.),4*(4*'(JJJ
?;=(ÇC?FÇ(>z>(N(Ny;(ÇÑ(z>(FÇ>(D@æ(H(>F(y>(F@(Ç>(y>(Ç@(à@(>z>(?ÅN}L
=C(>AC(ÖC(=@(Ç@(:zNP(?;(Ö>(DC(N}C(=>(?C(B;(A>(Ç>(?(Ñ;(BCæ(ç(>F(y>(F@(Ç>(=@(Fz;B(
>z>(ÇC(ON(yC(FOC(=@(Ç@(:zN(>(y;(FÇ@(B>(Ç>(y>(Ç@(à@(A@(:>(FC(F@(=@(z;(|Ç@(N}C(=>(~>(
;(Ç;(OC(=@(ÖN(>z>(O>(FzC(8(=@(;B@Ö(=@(}>=(=@(FÇ@B(=>?(O;(GC(A;(:>(Ç>(>=(É;(ÖC(
>z>((?;(ÖC(DC(:>(Ç>((y;(}C(Ç@?(>z>(?(~>(O;(EN(A>(F?N(Ç;(B@(Ç>(N(y@((O@(>z>(E(>z>(y;((yC(FOCP(y(@(Ç>(|Ç@(DC(FC(AC(F>(Ç>(=@(?;=(y;(}CÇ(?@(
>z>(?(FzJæ(å(>F(y>(F@(Ç>(=C(?C(?ÅN}(=C((=@(Ç@(:zN(>(N}C(=>(~>(O@(
@(A@(Ç>(A@(=@(y>(|N(?(NFOC(=;(>(z;(GC(FB;(Ö@(
(|Å@(à@(¨y;(=C(?@A(FC(;B@(É@(@(O;(GC(>(y(Ç>P(y;(FC:(=;(@?;(FN(N(y>L
Ç@(àN(N}C(=>(~>(=@(B>(|>O(=>(B;(>(O@(N}C(à@(ÖC(>(?@J
4@;(NB;A(N(=@(FÇ@B(=N(ÖC(A>(=>(~N(?;(Ö@(;:((ÖN(y;(A(B;N(N}C(à@(ÖC(>(?@P(@(NBC(G:@(B@(àC(y;(A

÷%*%'()¢%0*#
3(;:(>(

#+'%".5*(*#%.0%,°0,á(+.3*-*(#(0*3%*&,(3"+34'2(6.),4*(4*'(JJJ
ÖC(>(?;OP(@(=@(FÇ@B(=>(~>(Ç(FzC(y;(FC:(=C(BC(G:C(?(~>(
(Ö@(Ç>(=@(BC(AC(=N(BC(|Ç>(=NJ(3zC(AC(D@(BC(G:@(A;(yN(à@(B@(à@P(=@(y(OC('jç;'åã8'ï>'ª>'è6'åë6
'B@(É@(@(B@(G=@(ÖC(?@;(>(É@(@(Ç;(?;O(FzN(|@(à@(yC(FOC(ÖC(Ç@(B@(@?(Ç>B(=;FÇ(AC(z;(B@(z@(=C(@(BP(A?(A;(:>(Ö@(y;(B=(É;(ÖN(;(N}C(=>}(?;O((~>(y(z>(?N(A@(y(?C(?;(ÖC(FC(O;(EN(y(OC(=>(Ç>(FzC(AC(DC(FN{(K(yN(FÇ>(Ç>(yC(FON(
y;(=;(B;(A@(:>(N}C(=>(~>(y(A@(z>(FN(>F(y(z>(y(F@(z>(;A(E;(B@(((~>(O@(A@(Ç>(>(Ö@(BC(?;(ÖC(
FC(;A(=;(FC(=@(yC(FONP(@(?;(ÖC(;=>(Çz>(=C(Ç@}(=Cæ(ç(y;L
FÇ@(B>(Ç>(y>(Ç@(à@(@(y(?@(F=>(ÖC(O;(Ez>(Ny;((Ç>(;A(E;(B;((?;(ÖC(N(É@(>(y(?@(:>;(A@(=@(y>(|N(ÇC?FÇ(>z>((FzC(;(F@(A(O@(>((?@(O@(>(OC(N(FB;(Ö>Ñ(
>AC(Ö@(>(>AC(Ö@(?;(ÖC(@(FÇN(y@(yC(FO@æ(å(N}C(=>(~>(O;(EN(FO>(Fz>(Ç>(A(Ö>(?z>(y((Ç>(y(}Næ(ã(O;(GC(FC(y;(BC(FÇ>(z>(=C(?>O(
ã( ( +;A(BN(}C(=C((N(;B;O((~>(Ç(|N(
(?;(ÖC(}N(ÖNJ
311

÷%*%'()¢%0*#
@(=>(OÅ>(B>O(>AC(Ö@(O@(;(?;(Ö>(O@(yC(FO@(yC(B@æ(â(N}C(=>(~>(O;(EN(yC(FON(>(;Ç(yC(B@L
Ç>(¨=@(?(Ç@(BC(y(O@(ÖC(;B;(NEz@B(=;O(@(:@B(=;(>(O;(GC(
y;(FzN(G>(Ç>(?@;(;A(O;'ë>'ÑO(Ç;(E@P(
;=@(FC(O;(GC(>F(?;((FÇ>(Ç>(>(@(NBC(G:@(B@(àC(>O(yC((B@J(*?(Ç>B(=;FÇ(=@(}@(FN(
N?ÅN(}N(ÖC(y;(yN(à@(B@(àC(yÑ(y;(Å@(>O(yC((B>(O@(?;(Ö>(=C(A;(FÇ@(ÖNJ â (#(y(FC(Ez@L
E;(z>(O;(Ez>(Ny;(Ç(Ç>(=@(?;O(OC(FÇNJ(%;(?;O(FzN(|@(à@P(N}C(=>(~>(y(Ç>(:(N(ÖCA(=;O(FÇ>(ÑN(=C(:>(Ç(|C(;A(ÖCA(=C(J(%@(?;(C(=C(:>(:>(z;(
A;(:(;(FÇ@(BC((BCD(N(y(ÑN(¨;F>O(N?;(z>(?;(FC(N(àC(ON(=C(=@(z@(>(ÖC(>}(?>(
É;(?NF(}@(F@P(ÖC(A@(N}C(=>(~>(>(A@(ÅC(y;(?N(|@(B@(ÖN(A@(
y;(yN(=C(y(=>(ÖCP(@(yC(FO@(FC(BCD(F?;(

#+'%".5*(*#%.0%,°0,á(+.3*-*(#(0*3%*&,(3"+34'2(6.),4*(4*'(JJJ
FB;(Ö@(y(@(à@(>(@(y>(FN(ÖN(>O(yC((BC(?;(ÖC(}N(ÖN{(ó,#)%)0('l)2*(.)'#$)-4'r
î%$)5í()-6(')S)í%)*#)*%7).#")'()$56)0*(')-*%)%)S)#)'5)-#)75)ï4)í(î)4)"5)-#)5/4)7(')S)
2*(.)'#$)7"()µ5$)2()N()"(')S)0()43%).#)µ5)4).,56)-(')S)#)'%)õ'5).%)í4)0#)/(5)/(0)
.%)ï4)í#)S)L5)0#)$%)+0%)7()0()64)2,%)20%)S)-7(),(6)$5)+0%)5í*()î#)6%)20%)S)"4)N(6)$5)'()
74)N#)'#)$5)"()S)$()2#)$%)05/)'%)-,()'%)25)"()´«)+C(FO@(F@(A(>(O=;(|ÇB;(yL
AC(B@P(Ez@(E;(z@(N(y(?z@(N(C(F@(OC(F=>O(>(BO(=@(}C(àCOJ
-=;(E;(ÖC(AÑ(yC(F@(O@(?;(ÖC(O;(EN(y;(FzN(G>(Ç>(@(NBC(G:@(B@(àC(L
}>(Ç>Ñ(E}(?>Ñ(FÇ=(E;(F@(8(?B@(z>(É>(?@(Ç>B(=>(EC(=>(Ç>B(N(?;=(FÇ(Ö>(W£Wmv(
¡(:C(¡(W£[in(¨7%)-$()í%2)"%)N#l)'5).()í%2).(/).(l)7"#)N()í%2)-$#)-*(l)5ª#)î#")
í%2)N#)'(l),52)í%2)M#)'(l)í%2)+"()'%)0"),5P(¢%)/*()6%);A(">(:ÅC(};(FÇ>(Ñ;(B>(y@?(O;(EN(y;A(FÇ>(~@(Ç>(=@(>F(y(Ç>(
Ny(?;(>O(FC(=@(à>Ñ(N?@(GC(¨=y((0)&#),52)2()
”()N(/(E

÷%*%'()¢%0*#
*%)0%)'(J(!@(y;(EzC(A@(O;(=C(?;(z>(?;(yÑ(FÇ>(Ñ;(B@{(K5)"#$)-%l)().#)-%),%)7"%)0(5)
S)4-.()6%$l)().#).%/)*%)+(5)S)/(5)0()-%)2'()$5l)/I5).4)3#)S)5),%$).%l)().#)-%)'%)
6(),#M)S)ï4)í#$).%l).#)+*(),4)5/"%)'%M)S)/(5)0()-%)'%)2'()/5)6%)*4)3#)´«
6C(>}(?@(?;O(yC(ÇC=(~>(Ö@(N}C(=>(?@P(y;(FC:(=;(=@(B>(|>O(=>(B;(>(O@(N}C(à@(ÖC(>(?@P(
y;A((@?(Ç>B(=N(Ny;(ÇÑ(y(AC(B@J(*NÇC=(Ç>}(=C(
yC(FOC(;:>(zN(ÖN(O(y(AC(B>(O@(?;(ÖC(FzN(GC(?@(?;(@(;y>F(A;(E@(@(Ö@(>(y(@(;y>F(ÅN(A>J(#(yC(FO>(ì")-/()õ%)'5)7*(),()ØCÅ(?@(6;?(F>(O;(B>(D@(
=C(O@(z>(ÖC(:(F=>Ñ(y(AC(B@(¨,()õ'(l)N40)'(l)7*(),(S7*(),5l)-$%)3%l)î")'5l)
0")-/(l)*%)7(l)$*()0(J(0@(?;=((Ç>O(;y>(F=>O(y(AC(B>(O@P(N}C(=>L
~>(A;(:>(ÖN(F@(O;(AC;(FB@(?;E(FÇ>(Ñ@(N(?;(ÖCO(=C(A;(FÇ@(ÖC(;y>(F=>(y(ACBJ('=>(y(àN(A@(Ç>O(Fz;(B>(O@(A@(:>(y;(=;(B>(z>(;=;(
|Ç;(FN(y(z>P(@(@(Ç>OP(A;?(FzN(|@(ÖN(yC(FONP(A@(=@(y>(|N(FBC(;y>L
F=C(y(AC(BC(?;(ÖC(}N(ÖNJ(
Ø@((É>}(=C(;A(z>(?C(;A((?@(~>(Ö>P(Ç(F(B(|>O(=>(B;(>(O@(N}C(à@(ÖC(>(?@P(y;(FC:(=;(?@(A@(ÖC((~>(O@(?;(Ö>(FC(=@(z@(C(N(3(Ö>J(+C(FO@(ë(5)'%)2'()0()6%)+5).#),#$(5@(Ö@(EC(>(
>=(FÇ(Ç>(N(;BN(FBO(>((O@{(
!"#)N()*()6%)04)+5)-/"52)í%2)"(2)*5)+()S)-*5)õ#)*()6%)ª")/4)õ%')-/()-4)6%).()S)ë(5)'%)
2'()0()6%)+5).#),#$)S)/(5)6()4)0()6%)5.)/()N#$)S)#)-*#5)-($)$5)õ0()'%)M.5)ª5r
*#)"()S)#*I)$%)#7(/)'#)6%)05)í"5)-µ,().#)*()´«
uO±O']ç'Üç9
'A((BC(;(O@(GN(FÇ(F?N(F>(ÖNP(y;(FC:(=;(=@(B>L
|>O(=>(B;(>(O@(N}C(à@(ÖC(>(?@P(|Ç;(?@(F=>(ÖC(O;(GC(B;(A>(Ç>(?@(y>(F@(àN(F@(FÇ@(B@J(
+C(FO@(æ4.)/()-()'()-*5,)'%)-."()'%)">(:ÅC(};(?;(Ö@(N?ÅN(}N(ÖC(y;(yN(à@(B@(àC(yÑ(y;(Å@(>(;(FÇ@(BÅC(=>O(>(L
O@(>P(=@(?;=(Ç;(E@P(A>(F?N(F>(ÖN(;(ÇC(O>(¨=y(z;(?;(ÖN(~C(=N{(
ì()6%M) 0() .%) ,5)*%) +*4$)î#l) "%)õ#)-%)"#) S) '5),#)'()"#l) ï4)0#) '%)2'()'#) #) 2'()'# • ) S)
75)6%)M%).%)í")25),%)*%)+"(0)-/%)2,%)"#)S)(*#).#)%M)í#).#)'()'()-*5,)'56)-."()'#)
S)ó.().#)"()%M)$5)õ0()4)75)'%)/5$)ª#*)$4)S)$5)õ0()%M)"%)/*()$4)-'#)$#).#)2()
öL)S)$%)&()%).%)/I5)M.5)"(2)$%)&4)64)"%)N#)S)#2().,5)6#µ)*%)3()7"#)N()%),#)î%),%sss
ä(
+;A(BN(}C(=>(>((Ç(;(FÇ@(BÅC(=>(=@(=@(FÇ@B(=>O(z>(FÇ>(D>(O@J
314

#+'%".5*(*#%.0%,°0,á(+.3*-*(#(0*3%*&,(3"+34'2(6.),4*(4*'(JJJ
úO'W"'Pe'"P
#y;(Ç}(=>Ñ( yC(F@(O@( yC(A@(E;(|?>( ÖC( ;y(?;( FC( ;=C(
>=(ÇC(E(|N(N(=@(FÇ@B(=C(@?(Ç>B(=;(FÇ>J(6CA(=;Ö(yC(FO>(O;(GC(FC(y;(FBC(Ç>(Ç>(~C;(}@F(
N?;(z>(?;(FC(;FO>(FzC((?;(ÖC(DC(FC(;?;(àC(;(;(B@(Ç>J(
-C(N(Ç>OP(N?;(z>(?;(=@(FÇ@B(=>?(=C(O@(A;(B;Å(=;(B(P( ;=( ÖC( O;(GC( >F(?;((FÇ>(Ç>( @( ;A(B(=;FÇJ( )@( ?;(Ö>( E;A(
=@(}>=(FC(;A(zN(}>(z>P(@NÇC=(Ç>}(=C(yC(FOC(y;(:;Å(|@(DC(?B@(z>(ÇCÇ(=@(FÇ@B(=;E(y(z(=;FÇP(ÇC((ÖC(>(ÖC(>?(y;(Ç(?@(~>(Ö>P(|Ç;(>Ñ(}>(=>(AO(>(B;((FÇ(?@J(+;((@ÉC?(Ç>B(=N(F=@(EN(N(N}C(àN(ÖC(>(?@((
yF>(Ñ;(z;(|?C(:@((ÖC(=(Ö@(}@(ÖN(D>(O;(Ç>(B@(~>(ÖN(>(ÖC(>}(?N(FBCFÇ(?;A(
N}C(=>(?@J
VTS\$"Se$"'
YîîsjP(`mk(¨KIIãJ([J@)=>

÷%*%'()¢%0*#
JELENA REDLI
VdY(\RY(Sb(Q\VdYWVUT(RSW[R(UW(VYQTdUW[(RY`aUQW((
QR(Q(bS`YU[W(ZQW[\Q[Y
a

(&3&_&#%&$[40(./&%$0T
!TRS"P!TP\'!S$ePSe$\'ehTSRT'$\\RTf"''
e'$"WVTTSTc'&\WTPTc'RTUQTc"''
^$"Rfe!PQ]'&\WTP"
5;(E@Ç(FÇB;(>((É(?@(;EzC(A@(FCP(>(OC(N(;FÇ@(z;EP(>(N(:O(
;:(z>(~>(O@( Ny>Ç(=>Ñ( (~@( ?;(Ö>( ;A(E;(B@(}(?>O( =>(B;(>(O@J( !;?(
>(B;( E;(B;(?( ;:( B@F(y>(Ç@(àCO( FÇ>(}C( =@(B>(?N( A@( y(z@(E;(@(B@( =@(}>=(
y;(FÇ@(BÅ@(à@(y>(Ç@(à@(;A((Ö>P(ÇCP(N(F?z@(AN(F@(Ç>OP(=C;(FCÇ(=;(
y(>(ÖCA(=;E(ÖC(>}(?;E(=>(B;@(N(AP(E;(B;(~>(?;(Ö>(N}C(É(?@;(FÇ(ÖC(>?(O;((Ç>(;:(Ö@(|àC(à@(;(Ny;(Ç(?@(?;(:>(FC(F=@(|z>(N(Ç;O(O=;(|ÇBN(
Ny>Ç(=>Ñ((~@(}>(Ö>(y;(ÇC=(~>(Ö@z(=>(;:(z>(~>(=;(FC(;A(}(?C(F@(A(FC(y;((;A(Ñ(;:(z>L
?@(Ny>Ç(=>Ñ((~@(N(F@(BÇ(=C((~C(N(É(?N(;A(z>(?N(ÖN(FC(FB;(Ö;O((}@=(y(FÇNy(y(z>(?;O(à>(Ñ;(B;E(N}C(à@(N(
=@(FÇ@(B>( É}(?C( FÇÑ((~@(O;(O(E;(B;O(F>(ÇN(@(~>(Ö@(O@P(ÇC(FCP(Ç@(?;P(?(~@(àC(=@(à@(ÖC(>}(?;E(?‚A@(
¨=@(à@(ÖC(>}(?;E(F>(FÇC(O@P(y@((=@(àC(Ny;(ÇL
çKâ

çKä
ò(.(M()¢(04-#'rK("0#
?@( ¨=@(àC( ?;(ON(=>(?@(~>(ÖCP( ;A(=;(F=;P( =@(àC( y}(?>Ñ( y(z@( ?;(Ö@( =@O(
;O;(EN(D@(B@(ÖN( A@( :>((=N(ÖC(O;P( ?;((FÇ>(O;( ÖC(>}(?@( F(O@(
y;(ÇC=(~>(Ö@z(=;((NFz;(B>(O@(E;(B;L
ÇN(@(~>(ÖCJ(
5@(BC(D>(FC(y(?;O(N}C(à@(Ny>Ç(=>Ñ((~@(N(=@(FÇ@(B>(É(ÖCP(N(FB;O(}z@=(?N(h@);9)=>G@=)@>):9)Q@)A)G@G)GF);A)>9)Q@=P(=@L
B;(A>(FzC(AC(DC(y(OC((BCzN(FÇ(Ö@z(=C(y;(ÇC(|?;(DC(N(N}C(àN(
Ny>Ç(=>Ñ((~@{(„Sn(ñpm(ñm(ji(pr(ñm(lp(vmk(qîi(rl(ìi(l(ni(tîqui{(®cFP)P@:>)O9)@G)G@)
@=>r9C)BAG)>9¬fP(mn(îfsn(us(hi(pr(x(ji(ktû(ip(ki{(êcFP)P@:>)@=>rb@)?)BAG)>9uf(
hi(nl(ñm(lp(gr(prghtps(jhs(úli(kfln(®jhïîif(ki(gmn(uip(jr(hsmn(òr(vs(îsq(pi(ih(mn(ñpm(jgps(pr{(êO9r
@G)G@)@=>)BAG)>9)bFP)P@:>ufJ(Uî(jlò(ûh(ñm(lp(hrnh(kfrî(îmn(oip(úl(iî(úli(ñil(îij(mpi(sî(îij(in(
bprn(gi(ñm(lp(gmn(jhr(hip(úliP(js(îi(ki(l(sq(vi(hm(lp(ijhP(in(iò(òihP(rj(ji(òptúl(inh(krnj(
îij(gmn(uip(jr(hs(mnj(L(vm(snj(ñm(lp(hrnh(úlfmn(ni(îfrn(nmn(gi(LP(îi(hpm(s(jsq(vi(ijh(gmlprvL
vinh(iv(ñîmït(ñrp(kij(sn(ksoqnij(rl(ñrp(îip(hi(nl(ñm(lp(góhstæ(úl(rnh(rl(ñpi(vs(ipP(sî(ijh(
ñpijúli(hm(hr(îi(vinh(rw(jinh(kij(gmn(uip(jr(hs(mnjJŸ(ªTói(ur(îs(ip(KIãI{(çã
#?;(z>(?;( y(FÇN(y>(O;( ;y(|>(>( Ny>Ç(=>Ñ( (~@P( N;}>(DC(O;(
A@(y;(FÇ;(Ö>(Ö;|(B>(|C(=@(}>(=@(A@(FC(y;(FÇ@(B>(;A((Ç@(àCJ(4@;(y(OC(Ny>Ç(=C((~C(?;(ÖC(:C(zC(G>(7(>(8@)
iGA:®A9=)FG)H9):A)9)G@(ª[r(kih(KIIã{(KMâJ(+>(Ç@(àC(„4@(A@(ÖC(;=(FÇ>(E@;¬Ÿ(y;(FÇ@(BÅCL
=;(ÖC(=@(}@?(Kä(=@(}>(=@(N(É(?NP(@z>(Ç(A@(;B>(
(~>( Ny>Ç(=>Ñ( (~@( =>(FN( (Ny>Ç(=>Ñ((~@P(FNy(FÇ@=(A@(;:(z>(~>(?;(Ö>(O@(FC(;A(z>(?N(ÖC(F@(B(
É(?P(@z>(>(y;(ÖC(A>(=>(;:(z>(~>(?;(Ö>(FC(>(N(CÇ(=;(

3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*(#("*)1,°,%,-(JJJ
Kç(Uî(ijh(ui(nl(úl(rnk(ijhLgi¬
K§(Uî(ijh(ui(nl(úl(rnk(·r¬
Kå(]l(rnk(·r(sî(ijh(ui(nl¬
Kã(]l(rnk(·r(úlfsî(ijh(ui(nl¬
Kâ(]l(rnk(·r(ijhLgi(úlfsî(ijh(ui(nl¬
Kä(]lrnk(·r(gfijh(úlfsî(ijh(uinl¬
'A@(?zC(Ç;(z>(?;(O=;(|ÇB;((}>(Ç>Ñ(;:(z>(?@¬(4;(z>(?;(}C(FÇ;(FC(;B>((~>(?;((FÇC(N(FB@(?;(A=CB(=;Ö(?;(ON(=>(?@(~>(Ö>¬(!@(z>((}>(Ç@(É;((}>Ç(FC(O@=(Ç>}(?>(F@(A(=>(Ç>(;A@(:>¬(0@((FC(;A(E;(B;((z;(=@(FB@(;B@(y>(Ç@(à@P(Ç(y(FÇN(y>(Ç>(?(Ç>}(?;Ö(@=@(z>(>(FB>Ñ(y;(:Ñ(Ny>Ç(=>Ñ((~@(
>(>(N(}@(B@(Ç>(>Ñ(N(E;(B;OP(BCD(FC(=@(OC(DC(ÖCA(=;(B@(G=;(
y>(Ç@(àC(N(=@(FÇ@(B>(É(@L
=C(O@((Ç>(=C(FÇ@=(A@}(?C(;:(z>(?C¬(
!;?(y>(F@(=>(ÖC(>?P(F(ÖCA(=C(FÇP(FÇ@L
Ç>(FÇ>(?@(:C(zC(G>P(F(A(?@(~>(Ö>J(!@(?zCP(=C(A;(B;Å(=;(:>(:>(z;(A@(Ç>P(N(=@L
FÇ@(B>(ÉÇ(=>Ñ((~@J(*?;(N}C(=>(~>(A;(:>(ÖN(F@(O;(;:(Ö@(|àC(àC(FÇ@=(A@Ñ(;:(z>L
?@P(O;(GC(>Ñ(:N(=>(Ç>(;=;(|Ç;(}N(ÖN(N((?(ÇC((ÖN(O>(Ç}L
?@(=;B(=;FÇP(@z>(>(ÖC(>}(?>(y(@OJ(
#(;B;O((DC(A@(Ç@(@=@(z>(@(@(FÇN(yÅC(=;(FÇ>(y;(ÖC(A>(=>Ñ(;:(z>(?@(Ny>Ç(=>Ñ(
(~@(N(F@(B(@(O@(Ny>Ç(=>Ñ((~@(=@(?;J(-C(N(Ç>OP(F(;:(>((àCL
=>(~N(A@(Ny;(Ç(?@(Ny>Ç(=>Ñ((~@(N(É(F>(
çKI

ò(.(M()¢(04-#'rK("0#
;A(FÇC(yC(=@(É;(E;(B;(ÇN(@(~>(ÖCP(y;(Ç(AC(Ç>P(y(=>(|C(y;(Ö@O(ÖC(>}(?>Ñ(=>(B;@J
lOmO'&6'ä'Üç'åÑ9>';çá'â6'ä(Ç>(y;(:(FB>(=@(>(B>(?;(ÖC(;=@(=@(B;(A>(A@(FC(F=(EB>(FÇ>}(?;Ö(z>(ÇC((Ç;O(ÇC(O@(Ç>(?;O(ª[r(kih(KIIã{(H§LHåP(;A@(?zC(FC(Ö@(F=;(B>(A>(FB@(à>(Ñ;(B@(
=C(N(F@(Ez@(|C(=;FÇP(@(F@(O>O(Ç>OP(>(Fz;(GC(=;FÇ(;BC(y(?CP(?@(?;(N(=@(FÇ@L
B>(É(N(FB>O(A;(OC(=>(O@(y(OC(àC(=C(z>=L
EB>(FÇ>(?CJ(!@(?zCP(ÖC(>}(?>(=>(B;(O;(GC(:>(Ç>{(
K( É(ÖCJ(0C(Ç(A@(>(F@(O@(É;(;A(

3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*(#("*)1,°,%,-(JJJ
}C(àC(>(C?F(yB(=;FÇP(ÇC(A@(FÇ>(z>(FÇ>}(?>(F>(=;(=>(O>(=>(FN(=N(G=;(@y(F;(zNÇ(=>(
F>(=;(=>(O>J
#y(=C(Ç>O(?(Ç>(?@(O@P(FBC(ÖC(}C(|D@(yC(A@(E;(|?@(y(OC(=@(y;(AC(zC(=@(
ÖC(>}(?C(=>(B;C(N(É(?NJ(%@(?;P(=@(y(OC(}NP(=@(OC(àC(=;O(y(z>(}z@(=@?(N(
?;(ÖCO(FNP(=@(F@(GCÇ(>(y;(ÖCA(=;(FÇ@(BÅC=(=@(}>=P(y;(?N(|@(z>(y(?@(@(Ç>((}>(ÇC(
ÖC(>}(?C(=>(B;C(N(É(?NJ(3@(B(ÖC(>?(FCP(y(Ñ;(B;Ö(y;L
AC(z>P(E(B;@{(=@((ÖC(>?(¨É?(¨ÉDGA)9)G@J(,(OC(N(=@((?à>L
GCB(=;E(ÖC(>(?@(FÇ;(Ö>(=C(y(=;(AC(É>(=>(F@=(ÖC(>}(?>(=>(B;(?;(Ö>(FC)=@(>(B@(fF:)
( FC( AC(z>( =@( Ç( y;A(=>(B;@{( Ç@(?;(B@(=>( É@(O>(z>(Ö@( ÖC(>?( ¨É?(¨É(ÖC(>?(
¨ÉO(ÖC(>}(?>O(;F;(:>(Ç;(FÇ>(O@(¨É;(=CÇ(F?>OP(O;OP(zC?(F>}(?>O(>(F>=(Ç@?(F>}(?>OP(?@;(>(E;(B;O(F>(ÇN(@(~>(Ö@(O@(N(?;(Ö>(O@(
FC(?;((FÇC((}>(Ç>(ÖC(>}(?>(y;A(=>(B;>J(0C(y(OC(}(?>(=>(B;(N(;A((Ö>(O;(GC(A;(y(=C(Ç>(Ç;(OC(A@(BN(}>(O;(y(;(=;(
>z>(y}(=;(>(FN(B>(|C(NEz@(C(=;(>z>(BNz(E@(=C(y(FÇ;Ö(=;P(y@(ÖC(
F@(O>O(Ç>O(;OC(ÇC(=@(>(?;(ON(=>(?@(~>(Ö@P(ÇC(FC(;B;Ö(y(~>(O;(L
Ç>(y;(FC:(=@(y@(Gà@(N(=@(FÇ@(B>(ÖC(>(?@J(
4@(A@(ÖC((Ny>Ç(=>Ñ((~@(N(@(B>(F=;(FÇ>(;A(ÖC(>}(?>Ñ(=>(B;@P(
O;(GC(O;(=@(BC(FÇ>(y(OC(=C(ÇC(N(E(~>(É(?@(y(C(=;Ö(@(FÇÑ((~@(N(@(B>(F=;(FÇ>(;(Ç;(E@(A@(z>(FC(y>(Ç@(àC(;A(=;(F>(=@(~C;(>F(?@(
>(;}C(?>(B@(=>(;A(E;(B;z>(¥=Cø(¨9:)>@G)GF);A)>9F:)>F)>A)C@)L(Ç;(Ç@z(=;(y>(Ç@(àC(
>z>(FC(y>(Ç@(àCO(Ç(;A(=(É;(Ö@(?;(Ö@(FC(;A(=;(F>(=@(AC;(>F(?@(@(
¨9:)>@G)GF);A)>9F:)BAG)>9)@C)C@)L(y@(Ö@z(=;(y>(Ç@(àCP(@(Ç@(É;(~>(Ny>Ç(=>Ñ((~@(
(?N(ÖN(N(@(B>(F=;(FÇ>(;A(ÖC(>}(?>Ñ(=>(B;@{(=C(E;(B@(=>P(FB@(?;(A=CB(=>(>z>(É@L
O>(z>(Ö@(ÖC(>?J(
K(
j

ò(.(M()¢(04-#'rK("0#
mO'"R"'VT'W"'ehTS'RT'$\'\'RT'f"'e'^TV'ce'gh'ij'klm'khi'no,
lm'mpj'qo'rj'sh'qjl
mOlO'Pç9'è8å
)@(y;(Ç(FÇ>}(?@(@=@(z>(@(É>z(O@(”4)0%)-'()
-40)í#)'() “$%)*#)6%) !4)*%'( ?;(Ö@( FC( N}>(=>(z@( ;y( B>(|C(

3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*(#("*)1,°,%,-(JJJ
&C(z>(?>(:(Ç@(à@P(}@?(çâ«(;A(FB>Ñ(Ç;(Ç@z(=>Ñ(y>(Ç@(à@P(>(BC(AC=(ÖC(:C(
Ez@(E;(z@(N(z>}(=;O(Ez@(E;z(F?;O(;:(z>(?NJ(%@(?BC((~C(O;(EN(}>(=>(Ç>(F@(O;(>OCL
=>(~CP(@(OC(=>(~CP(y(AC(B>P(y(z;(>P(yP(BC(=>(~>(>z>(N(B>(~>J(0@(>(OCP(
?;=(ÇC?FÇ( ;O;(EN(DN(ÖC( y;(FÇ@(BÅ@(àC( Cz>y(Ç>}(=>Ñ( y>(Ç@(à@J( 0@(A;(BC(N(ÖN(D>( FC( =@(
y;(=@(Ç>(>F(?@P(Ç(FC(y;(ÇBz>(=C(E@(~>(Ö@(Ç@(?;(|Ç;(FC(Ç=(É;(Ö@(y;(=@(BÅ@(Ny>Ç(=;O(>=(Ç;(=@(~>(Ö;OJ(#(FB@(?;(A=CB(=;Ö(?;(ON(=>(?@(~>(Ö>P(y>(Ç@(à@(
?;(Ö@(FN(N;:>(}@(ÖC(=@(>(}C(FÇ;(FC(y;(=@(BÅ@(ÖN(Ç@(?;(C(;O;(EN(D@(B@(ÖN(Cz>y(Ç>}(=;FÇJ(#(
Ç;O(FzN(}@(ÖNP(?;=(~>(=;FÇ(=C(>AC(=@(N|ÇP(BCD(F@(O;(y;(FyC(|NL
ÖC(>(N:(?@(~>(ÖNJ(#(FzC(AC(D;Ö(Ç@(:C(z>(:>(DC(A@(Ç>(y(OC((@(;B@(?@B(
=@(}>=(y;(FÇ@(BÅ@(à@(y>(Ç@(à@{
%'(%*1(0*(+,(%*(/*(L(#+,%(0*(,0(%'(0*(Ü,(6*(L
L(5.)(21*2'1*(#(1,°0'-(21*2'134'-('51,4#(L
,-.(0,(Ü.
)*(-.(0,(Ü.
+",(!.(&,
+",(1'(),
+".!(1'(),
&.()0,(Ü,
#)(&,(Ü,
r)‚rb@)?)BA=)@PB=s
r)]>)CIJA)f9>u
r)8@)PF9:@s)
r)VF))?I9:>DG@==A9>)BA=s)äIA9)f9@:)iA9>u
r)VF)'è
'A(N?Ny(=;E(:Ñ(y>(Ç@(à@P(ÖCA(=N(}C(ÇB(=N(}>(=C(y@(Ö@z(=@(y>(Ç@(à@P(
@(OC(N(à>(O@(=@Ö(B>(|C(FN(@(FÇN(yÅC(=@(y>(Ç@(à@(y;(O;(DN(Ny>Ç(=>Ñ(@(OC(=>(~@(¨ãK«(
FB>Ñ(y@(Ö@z(=>Ñ(y>(Ç@(à@J(,=(BC(Ö@(=>(ÖC(Ny;(Ç(|C(@L
FÇN(yÅC(=@(É;(Ö@(Ny>Ç(=>Ñ((~@(y;(O;(DN(@=>rb@)?L
çHç

ò(.(M()¢(04-#'rK("0#
É>(?@(~>(Ö>(ÖC(>}(?>Ñ((FÇ@()BA)B9)@Gu
Én)‚rb@)?(ÖC(@(OC(=>(~@(?Ñ(y>(Ç@(à@(
F@(AÇ(=N(@(OC(=>(~NJ(4@;(|Ç;(FC(=@(B;(A>(N(jGAP)PA)9)G@)H(N(CÇ(=;(
É@(O>(z>(Ö@Ñ(y(OC((É>z(O@(”4)0%)-'()
-40)í#)'()“$%)*#)6%)!4)*%'{
+*"(Ü,(6*1(0*(+,(%*(/*(
L(#+,%0*()*-.0,Ü*(QUOI(L(
Ån)[@=)qu oi?
Én)VF)

3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*(#("*)1,°,%,-(JJJ
+*"(Ü,(6*1(0*(+,(%*(/*(L(#+,%(0,(+",(1'2
L(+"'3%*(,0&."),6*(L(
Ån)ZÂ)=F:>)P@=)Å)vu
Én)ZÂ)@=>)C@)BA>GF:u
0@Ö(}C(|D>(;:(z>?(y@(Ö@z(=>Ñ(Ny>Ç(=>Ñ((~@(y;(O;(DN(Ny>Ç(=;E(y(z;L
E@(>(BC(AC=(ÖC(Ç@(?;(A@(Ny>Ç(=>(y(z;E(FÇ;(Ö>(=@(?O(L
~@(O@(Ny>Ç(=>(y(z;E(@(N(>(O@(>FÇ;(OC(FÇ;(?@;(y(z;(|?@(;A((B@L
=;O(;A(E;(B;((?@(É@(O>(z>(Ö@(z@P(?@;(N(FzC(AC(D>O(y(OC((O@{(
+*"(Ü,(6*1(0*(+,(%*(/*(
L(#+,%0,(+",1'2(0*(4"*6#(".°.0,Ü.(L(
Ån)VF)@=)9b9)H@)B)BF)u
#(=C(?;(z>(?;(Ny>Ç(=>Ñ((~@(N(?;(Ö>(O@(ÖC(Ny>Ç(=>(y(z;E(=@(y;(}CÇ(?N((~CP(>(;(FÇ@(BÅC(=@(ÖC(>=(BC(Ö@(?;(Ö@(:>(:>(z@(N(F?z@(AN(F@(FÇ@=(A@O(ÖC(>L
?;OJ(,(;(FÇ@(BÅ@(àC(>=(BC(ÖC(;A(z>(?@(ÖC((O;(
=C(?;(z>(?;(Ç@(?B>Ñ(y(OC((Ç@(à@(>(BC(AC=(ÖC(y;(O;(DN(Ny>Ç(=>Ñ(y(AC(B@P(
@(:C(zC(GC=(ÖC(F@(O;(ÖC(A@=(Ç@(?@B(y(OC@=)BA=)?

ò(.(M()¢(04-#'rK("0#
,(=C(=@(N(ÖN(DC( Fz@(:N( @(FÇN(yÅC(=;FÇ( Ny>Ç(=>Ñ( y(AC(B@( N( (z@(ÖC(>(7O(>F(Ç(B@(à>(O@(ª[r(kih(KIIã{(KKçJ(
6C(>?(y(:C(E@(B@(O(AO(;:(O@(?@(?;(:>(FC(>(:C(Ez@(Ny;(ÇÇL
=>Ñ(y(AC(B@(>(y;(FÇ>(Ez@(BC(D@(>((~C(?) ?F:) BGFfCdP@uŸ( NOC(FÇ;(
„‚)>F:)BGFfCdP@uŸJ
uO'!"'U$\'c\'R\'"R"'VT'W\'ehTS'RT'$\'\'RT'f"''
e'^$"R'fe'!PQc'&\'WT'Pe
0@(;F=;(BN(ÖC(>}(?C(@=@(z>(C(F@(B(z@(yL
:z>(G=;(Ç(yN(Ç@(BC(D>(:Ñ(y>(Ç@(à@(¨Kâ§(N(;A(=;(FN(=@(y@(Ö@z(=@(
y>(Ç@(à@(¨ã§J('A(FB>Ñ(>(N(}@(B@(=>Ñ(Ç;(Ç@z(=>Ñ(y>(Ç@(à@P(}@?(äI«(y;(FÇ@(BÅC(=;(ÖC(
y;(O;(DN(>=(Ç;(=@(~>(ÖCP(KM«(y;(O;(DN(@=>rb@)?=(BC(ÖCJ(
#y;(( O( =@(
;F=;(BN(@=@(z>(C(Ny>Ç(=>Ñ((~@(N(É>z(ON(”4)0%)-'()-40)í#)'()“$%)*#)6%)!4)*%'P(
;}>(EzCA(=;(ÖC(A@(FN(N(;:@(?;(=;O(@(FÇN(yÅC(=@(Ç;(Ç@z(=@(y>(Ç@(à@J
,)(&'"{
7J(2@(ACP
8@)iGA:®A9=)FGH9:A9G@
L(@=@(z>(@(É>z(O@(”4)0%)-'()-40r
í#)'()“$%)*#)6%)!4)*%'
%'%Q10Q
+,%Q/Q
âç«
ââ«
+Q"Ü,6Q10Q
+,%Q/Q
Hâ«
Hç«
#(É>z(ON(”4)0%)-'()-40)í#)'()“$%)*#)6%)!4)*%'(FB@(Ç;(Ç@z(=@(y>(Ç@(à@(y;(FÇ@(BÅC(=@(
FN(y;(O;(DN(>=(Ç;(=@(~>(ÖCP(@(N(@=@(z>(>(7(=@(y>(Ç@(à@P(
}@?(äI«J(7(Ñ(ÖC(A;(|@;(*z H (>(N(}@(B@(ÖNL
H( ( Qî(aJP(8A):F)>9F:)H@);GAP)PA)>9)bA)C9>D)@:);GAP)PA)9)G@);D:DGA)>9)Q@)>GA:)=iFG)PA)>9)F:):@C)C@)m⁄>)AB)BC9)bA)>9F:)©)CA)=e:>A)ñ@)H@)CI9:)>@G)GF);A)>9F:)H9)G@b)>@)@:)iGA:®A9=)BAGCDnP(^pij(jij(lns(uip(js(hr(s(pij(
ki(ZiïkiP(KIâåJ
çHã

3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*(#("*)1,°,%,-(JJJ
D>(?J('=(ÇB(A@(N(ÉÑ(y>(Ç@(à@(É;(F@(=>Ñ(y;(O;(DN(>=(Ç;(=@(~>(ÖC(O;(GC(:>(Ç>(@(FÇN(yÅC(=@(
>(A;(Iå«(ª[r(kih(KIIã{(KMâJ
*=@(z>(>((y@(Ö@z(=@(y>(Ç@(à@(N(=@(BC(AC(=;O(?;(@(?ÅN(}@?(A@(ÖC(>=(BC(Ö@(N(Ny>Ç(=>O(;:(z>(~>(O@((N(y@(Ö@zL
=>O(y>(Ç@(à>(O@(y@?(=>(ÖC(Ç;(z>(?;(
}CFÇ(?@;(|Ç;(FC(O>(Fz>J('=@(>(B;(A>(@(?ÅN(}@?(A@(ÖC(>(=C(=@(N(ÖN(DC(Ç(=;E(y(AC(B@(?(ÖC(>}(?;O(
@=@(z>(;O(y;(OC(=N(Ç;E(É>z(O@J
4zCFÇ( N( FB;(Ö>O( ¥2}(?>O( FÇN(A>(Ö@(O@( É(Ny;(Ç(Ç>Ñ(;:(z>(?@(y@(Ö@z(=>Ñ(y>(Ç@(à@(y;(O;(DN(Ny>ÇL
=;E( y(z;(E@( N( FB@(?;(A=CB(=;O( E;(B;((BC(AC=(@(?ÅN(}@?(A@(ÖC(>=(BC(Ö@(=@Ö(O@(àC(@(FÇNL
yÅC(=@(?;A(y@(Ö@z(=>Ñ(y>(Ç@(à@(>(BC(AC(=>Ñ(y;(O;(DN(Ny>Ç(=;E(y(z;(E@J(*z(:C(>(;(FÇ@(BÅ@(à@(>=(BC(ÖCP(?@;(=@Ö(}C(|D>(;:(z>?(y;(FÇ@(BÅ@(à@(
y@(Ö@z(=;E(y>(Ç@(à@(y;(O;(DN(Ny>Ç(=;E(y(z;(E@P(}@?(N(§ã«(FzN(}@(ÖC(B@J(#(É>zL
ONP(>(;(FÇ@(BÅC(=@(;}C(?>(B@(=@(>=(BC(Ö@(N(;B@(?B;Ö(B(y>(Ç@(à@(ÖC(N(çK«J(
4;A(&@zA(O@(=@P(?@(?;(:>(FC(>(:C(Ez@(>=(BC(Ö@P(>@(Ny>Ç(=;E(y(z;(E@(?;((FÇ>(
FC(N(KH«(FzN(}@(ÖC(B@(@=>rb@)?(N;:>(}@(ÖC=(z(ON(FO;(B>(AC(z>(A@(ÖC(É;(Ö@(y;(O;(DN(@=>rb@)?O(y>(Ç@(à>(O@(F@(Ny>Ç(=>O(@(OC(=>(~@(O@J
#((;:(z>?(Ny>Ç(=>Ñ((~@(N(
?;(OC(Ny>Ç(=>(y(z;E(FÇ;(Ö>(=@(??(Ny>Ç(=>Ñ((~@(
}>(=>(}@?(çç«((?;(ÖC(>(N(}@(B@;(*z(:Cz(ON(}@?(=@ÖL
BC(D>(:Ñ(y>(Ç@(à@(y;(O;(DN(Ny>Ç(=>Ñ(y(z;(E@(É;(F@(=;(ÖC(=@(
Ç@Ö(=@(}>=J
ç( ( Qî(wiph(crîk(vrnP(bprn·rsj(jhrn(krpk(ml(òprn·rsj(ñm(ñl(îr(s(pi{(jm(gs(m(îig(hij(ml(ûg(hs(mnj¬P([J@)vG@:bJ)
h@)Q9)@gl)ZcUP(Wm(HP(KIäHJ
çHâ

ò(.(M()¢(04-#'rK("0#
0@(;F=;(BN(y;(Ç(=>Ñ((~@(N(É>z(ON(”4)0%)-'()
-40)í#)'() “$%)*#)6%) !4)*%'( F@( (O@( F@(BÑ( @=@(z>(@( >=(ÇCBL
=;E(O;(A@(z>(ÇC(Ç@(N(É(?NP(;}>(EzCA(=;(ÖC(A@(z>=(EB>(FÇ>}(?@(@=@(z>(@(
É>z(O@(y(B;=(É;(Ö@(;((O;(GC(:>(Ç>(
>(y}(=;(y(OC(à>(B@=(N(=@(FÇ@(B>(ÉÑ(;:(z>(?@(FBC(A;(}>(;(:;(E@Ç(FÇBN(>((ÖCA(=;E(ÖC(>(?@(EAC(
>(F@(O@(É;O@(FC(O@=(Ç>}(?>(=@(}@ÖJ(0@(=@(O@(ÖC(A@(ÖC(;Ç(?(B@(O;P(yz(=;(
?;((FÇ>(O;P(ÇC(A@P(N(=@(FÇ@(B>(FÇÑ(ÖC(>(?@P(y;(}(?;E(?‚A@P(A;L
y(=;(F>(O;(>(FÇ>(~@(àN(=@(à@(Ny;(Ç(?@J(+@(GÅ>(B;(;A@(:zOP(?@;(
B>A(@NÇC=(Ç>}(=;E(A;(?N(OC=(Ç@(N(=@(FÇ@(B>(FÇÑ(ÖC(>(?@P(O;(GC(y(
:;(E@Ç(yC(A@(E;(|?>(O@(ÇC((Ö@z(?;(Ö>(>zN(FÇ(Ç>O(ÖCL
>}(?>O(=>(B;(>(O@J
VTS\$"Se$"
aîrngóiLainuinsjhiP(TJP(asîoipP(ôJP(`mloihP(TJP(urn(kin(YïnkiP(üJ(¨KIIMJ(8@)iGA:®A9=)
BAGCDs)⁄>9bAC@=J(^rpsj({(TW`R(_kshsmnjJ
amïipP( dJP( alhwrgóL`suiprP( ôJP( ^inkrnP( ôJ( ¨KIIMJ( ÄFGFH9F:) ©) CA)
H9HAb>9?)
H9Q@G=9>D)H@PBFGA9:s(^rpsj({(drgóihhiP(ZrpmljjiJ(çåL§KJ
TmîîihLdrjjrnP(ôrïP(RhmlpktP(Tmîihhi(¨KIâKJ(Zij(nsuirl(ki(îrnoliJ(j

3,0%*43,°4.(3%"#4%#".(#+,%0,á(".°.0,Ü*(#("*)1,°,%,-(JJJ
PQ$he!
7>zO(”40%-'()-40í#'()“$%*#6%)!4*%')m8@)vAf

ççM

Z&-*%)&#X&%0()*-0T
VTR]UQ!STVT!STPT'h$T!Seh'h$T'Qæ$"#T'
ÆPQV!P\'V\PST$\
"@A(FC(:@(B>(=C(?>O(:>Ç(=>O(y>(Ç@(à>(O@(?;(Ö@(FC(Ç>(}N(;A(=;(F@(>(OC(N(ÖC(>(?@(>(?à>(GCB(=;E(
AC(z@P(@(Ç>O(y((?@(?@;(NOCÇ(=;(FÇ>(P(FÇ>(z@(?@;(y;Ö(O@æ(?;(z>(?;(ÖC(>}(?;E(Ç;L
z>(?;(>(?à>(GCB(=;E(>(=@Ö(@A(F@(OC(ÖC(>}(?C(;(@(~>(ÖC(?à>(GCB(=;E(AC(z@J(
+( y;(?N(|@(Ö>(O@( A@( FC( A;(y=(É;(ÖC( ?;(ÖN( =;(F>( ?à>(GCB(=;( AC(z;P( >z>( A;(
àC(=;E(y(Fy>(Ç>(B@(à@(N(=;(B;O(B(yO(@NA>(Ç;((ÖN(O;O(¨y;(=C(?@A(ÖC(
Ç;(=;(B@(|?;z(F?@(EC(=C((Ö@(B(NA@(ÅC(=@(;A(Çz>(OC(Ç;(ACJ(1>=(EB;(FÇ>(z>(FÇ>}(?@(OC(Ç;(A@(Ç(A@(
:N(AC(=C(@(;(:>(z@(=@J
ëï4N)'%)"%)N#{(z>=(EB;(FÇ>(z>(FÇ>(?@P(FÇ>(zCOP(É;(=;(FÇ>(zCOP(O;(zCOP(F>=(Ç@?(F;(FÇ>L
zCOJ
3BCFÇ(;(=@(}@(ÖN(ÖC(>(?@(N(?à>(GCB(=;O(AC(zN(;A@B(=;(}>(=>(;F=;(BN(?à>(GCB(=;L
?(Ç>}(?;E(O>(|ÅC(à@P(@(yÑ(ÉN=?(~>(Ö@(ÖC(>(?@(N(z>(ÇC(Ñ(AC(~C(=>(Ö@P(A@(z;(ÖC(BC(;(O@(;:>O(=N(z>(ÇC((ÇC((Ç>Ñ(

ççH
L( FÇ}(?NP
L( >O(y(;(=>(FÇ>}(?NP(
L( ÉC(=;(OC(=;(z;(|?NP
L( >=(ÇC'jª(>(:@(BÅC(à@(à>(OC(FB@(?@(?;(
@Ñ(ÇC(B@(>(A(ÖCJ(+;(=@(Ç;(ÖCP(
Ç@(?;(CP(A@(FC(;(FÇ>(zNP(?@;(~C(z;(B>(Ç;O(ÉC(=;(OC(=NP(=C(O;(GC(E;(B;((Ç>(:C(z>=L
EB;(FÇ>(z>(FÇ>}(?C(OC(Ç;(ACJ('B@(ÇB(z@(>(>(BC(;(O@(;}>(EzCA(=C(}>(àCL
=>(~C{(?à>(GCB(=;(AC(z;(?@;(ÖC(A@=(B>A(ÖC(>}(?C(NOCÇ(=;(FÇ>P(?@;(>(ÅNA(F?@(?;(ON(=>L
?@(~>(Ö@(N(FB>O(AO(A;(OC(=>(O@(=@(FÇ@(ÖN(;A(F>(FÇC(O@(=@(?;(B@(>(F>(FÇC(O@(yL
z@(?;(Ö@(y(;Ç(F?C(F>(FÇC(OCJ()@(Ç;P(=@(FÇ;(Ö@(à@(A@(FC(FÇ>z(F?@(F}(?;E(F>(FÇC(O@(O;(EN(:>(Ç>(F@(O;(=C(A;(B(y;(AN(ÑB@(Ç>J(5C(
z>=(EB;(FÇ>(z>(FÇ>(?C(=C(O@(y;Ç(yN(=C(@=@(z>(C(ÇC?(FÇ@(N(FB>O(àC(E;(B>O(@FyC?(Ç>(O@J(
mO'!Ñ;(N(=C(?;Ö(BC(>(F@(ÖC(>(?;OJ(!C(É>(=>(F@(àCO(FÇ>(z@(:@L
B>(z>(FN(FC(Ö;|(FÇ@((2J(!B@(àC(E;(B@(ÇC(OCÅ(=@(=@(}C(à@(É;(F@(z>(FN(
É>(z;(;(É>(+z@(Ç;=(>(*(FÇ;(ÇCzJ()@(+z@(Ç;(=@(¨N}>(ÇC(Å@(-.#*)6%)-7%)î#)ª#N)'()
5-5)í#)'()»/,()*#).%.)/5)6#)6%0)'5)0%)*5)#$()()0"4)+5)'%)$(úJ(+z@(Ç;(=;(B@(>AC(Ö@(FÇ>L
z@(;:(ÖC(A>(=>(z@(ÖC($#)-(5(¨pr(hsm(>("%N(¨mpr(hsmJ()@(*(FÇ;(ÇC(z@(¨N}C(=>(?@(FÇ>z(ÖC(
+%)'%)"#N)/#(¨?;(Ö>(FC(;A(=;(F>(=@((GCB(=>((;=@(}@(B@((}>(ÇC(;F;(:>(=C(AC(z@P(y@(E@(>O@(FB@(?;(AC(z;J
3N(|Ç>=(F?C((?C(?;(ÖC(FN(N(FB;(Ö>O(ÇC(;((Ö@(O@(y;(FÇ@(B>(z>(+z@(Ç;=(>(*L
FÇ;(ÇCz(;FÇ@(zC(FN(A;(=@(|>Ñ(A@(=@(y(FÇ>(?@(B;(A>(y;((GCB(=>(>((|Ç@(A@(ÖC(-.#*)05)í(")
'()N#')+5),5)"%)&(l)50)'5)-'5)7#)-()&(J(+;(ÖC(A>(=@}(=@P(F@(B(z>(FÇ>}(?@(>FL
Ç(B@(à@(y;(Ö@(B>(z@(FN(FC(N(A(=>(¢U¢(BC(?@P(FÇ>(z>(FÇ>(?@(FC((z@(?@;(O;(AC(F~>(yz>(=@(z>=(EB>(FÇ>(?C(@(ÑB@(ÅN(ÖN(D>(ØC(=CB(F?;Ö(z>=(EB>L
FÇ>}(?;Ö(|?;(z>P(}>(Ö>(ÖC(;F=>(B@}(:>;(7C(=@=A(AC(3;(F>(FN(
>F(Ç(B@(à@(ÖC(>(?@(y((z>(;:(y@(GàN(>(=@(@ÉC?(Ç>B(=N(;F;(:>(=N(
ÖC(>(?N(¨C?F(yB(=@(>(>O(yB(=@(FB;Ö(FÇB@J(%>(OC(FN(NA@((ÇC(OC(Å>(O;L
AC(z>(FÇ>(?CJ(,(@?;(ÖC(3;(F>;(y(@(}CÇ(=>?P($@(¨KäãåL
KI§â( FC( FO@(ÇO( ;F=>(B@(}COJ('A( ;FÇ@(z>Ñ( y(?@( >(AB@(Ö@(ÖN( FC(
+ÖC(

1,02&'3%,1,3%,°4,(+",3%#+(+",('5"*!,($4'134.(1.4%,".
=@(@ÉC?(Ç>B(=>(?@((?@(}(?>(B@(Å@(=>Ñ(B@((Ö@=(Ç>J(*ÉC?(Ç>B(=;FÇ(ÖC(>}(?;E(=@(?@(>(>(:;(Ç>O(B@((Ö@=(Ç@(O@(>FÇ;E(z;(E>}(?;E(F@(A(Ç;E(B>(A@(>(?B@L
z>(ÇC(Ç@P(=@(}>(=@(=@(?;(Ö>(FC(>(=;(F>(Ç@Ö(F@(A=(EB>L
FÇ>}(?C(FÇ>(z>(FÇ>(?C(?@;(=@(N(?CJ(";(O@=(6@(?;:(F;=(Nz@(>(N(F(Ç@(à@(FÇ>(z@(>(
FÇ>(z>(FÇ>(?Cæ(;=(=@(FÇ;(Ö>(;:(Ö@(F=>(Ç>(|Ç@(ÖCA(=N(};(BC(?;(BN(y;((=>(NOCÇ(=>}L
?>O(AC(z;OJ()@("J(6@(?;:(F;(=@(=>(ÖC(~C=(Ç(Ç@(àC(|Ç@(ÖC(NOCÇ(=>?(O>(Fz>;(
>(ÑÇC;(A@(?@(GCP(BCD(?@(?;(FC(àC(E;(BC(y;((?à>(GCB(=;(AC(z;(;=(Ç(N(FN(AN(|>((Ç;(L
ÖN(O@J(*(@?;(AC(z;(G>(B>((AN(GCP(y;(6@(?;:(F;(=NP(N(FB@(?;O(B(Ç(Ç>(B@(Ç>(FÇB@(y(z>(FÇ>(?N(ÖC(>(?@P(
FÇ>(z>(FÇ>(?N(E;(B;((FÇ>(z>(FÇ>(?N(NOCÇ(=>}(?C(?à>(GCB(=;(FÇ>J(
4@;(A>(F~>(yz>(=@(=@(N(?C(;(ÖC(>(?N(*#')+,#)-.#N)/()-.#)*#)-.#)/((>O@(N(;F=;(B>(
CFÇCÇ(F?>(y(FÇNy(ÖC(>}(?>O(y;(Ö@(B@(O@J()@((?N(;A(y(FÇN(y@(?;(Ö>(>O@(ÖN(z>L
ÇC((z>(FÇ>P(@(y;(FO@(Ç(O@(FB@(|>((=@(ÖC(>}(?>Ñ((@(~>L
Ö@J(+(=>(ÖC(=(EB>(FÇ>(FC(=@(FÇ>(z>(FÇ>}(?;O(yz@(=N(:@(BC(yÑ(FO(=>(B;(>(O@{(Ez@(F;(B>P(P(>(P(
}(=C(?;=(FÇ(ÖC(Ç@}(=>(ÖCP(;A((Ñ;(BN(O@?(F>(O@z(=N(Fy;(F;:(=;FÇ(
y=(É;(ÖC(N>(O@(ÖN(D>(N(;:(>}(?@(F(FÇ>}(?C(FÇ>(z>(FÇ>(?C(>O@(ÖN(y(~>(FÇ}(?>Ñ(y(Ñ;(BC(FÇ@(B;(BC(y(ÑB@(Ç>(z>(FN(>(A(
z>=(EB>(FÇ>J('F=;B(N(;B@(?B>O(y;(FO@(Ç(O@(ÖC(FÇC(ÇC(;(Ö(F?>(FÇ@B(A@(FC(E}(?>O(FO@(Ç(=>(ONO(ÖC(>}(?>Ñ(F(ÖC(=C;(y(Ñ;(A@=(@(NFyCL
|=N( ?;(ON(=>(?@(~>(ÖNJ( *( @( FBC( ;=;( |Ç;( ÖC( N( ÖC(>}(?;O( >((|@?¥( >(=@A(
O>(=>(ON(O@P(?;(Ö>(;:C(:C(N(ÖC(àC(E;(BN(O@?(F>(O@z(=N(y(ÖNP(FO@(Çz(F?>OJ(
*ÉC?(Ç>B(=;FÇ(ÖC(>}(?;E(=@(?@(>(>(:;(Ç>O(B@((Ö@=(Ç@(O@(>FÇ;E(
F@(A(Ç;E( =@(}>(=@( >( ?B@(z>(ÇC(Ç@( =@( ?;(Ö>( FC( >(=;(F>( Ç@Ö( F@(A=(EB;(FÇ>(z>(FÇ>(?C(?@;(=@(N(?CJ('F=;B(=@(ÖC(A>(=>(~@(z>=L
EB;(FÇ>(z>(FÇ>(?C(ÖC(-.#)*%$J(%;(ÖC(;y(|Ç>(=@(>B(@(y;(Ö@(}@(=N(>(}(?C(=>(B;CJ(+(=>(ÖC(=(EB;(FÇ>(z>(FÇ>}(?@(@=@(z>(@(?à>(GCB(=;E(ÇC?(FÇ@(N>(O@(N(;:(>(B;C{(
É;(=CÇ(F?>P(É;(=;(z;(|?>P(yÖ(F?>P(E}(?>P(zC?(F>}(?>J(*=@(z;E(=;(Ç;(OC(
FÇ>z(F?@(F(É>(?N(ÖN(?@;{(
L(É;(=;(FÇ>(z>(FÇ>}(?@(¨FÇ>z(F?;LC?F(yB(=@(>(y;(CÇ(F?@(ÉN=?(~>(Ö@(Ez@(F;(B@(>(
É;(=C(O@æ
333

334
÷(,5"/()("#'/5,#
L(O;(z>(FÇ>}(?@(¨FÇ>z(F?@(ÉN=?(~>(Ö@(O;}(?;(FÇ>(z>(FÇ>}(?@(¨FÇ>z(F?@(ÉN=?(~>(Ö@((8(zC?(FC(O@æ
L(FC(O@=(Ç;(FÇ>(z>(FÇ>}(?@(¨FÇ>z(F?@(ÉN=?(~>(Ö@(y;(OC(Ñ(=@(}C(à@((>(
L( F>=(Ç@?(F;(FÇ>(z>(FÇ>}(?@( ¨FÇ>z(F?@( Ny;(Ç}(?>Ñ( F(B;N(
F>=(Ç@?(FCJ
#z;(E@( y;(ÖC(A>(=>Ñ( =>(B;@P( ?@;( =;(F>(z@(~@( y;((ÖC( y;A(ÖCAL
=@(?@(=>(N(ÖCA(=;O(?à>(GCB(=;O(ÇC?(FÇNP(@(>FÇ;(Ç@(?;(=>(N((}>(Ç>O(AC(z>(O@J(
+;(=@(Ç@(ÖC(>FÇ>(=@(A@(FB@(?;O(?à>(GCB(=;O(AC(zN(Ç(?@;(ÉC(=;(OC(=N(@(
FC(:CJ(%C?(FC(=@(?(C(O;(GC(>(B(Ç>(?;O(y@((Ö@(?;(z>(?C(FN((?C(
>(Fz>}(=;(FÇ>(y;((F(O@(FC(y;((NL
}@(B@(>(;?B>(=(EB;(FÇ>(z>(FÇ>(?CP(;=(A@(ÖC(BC(;(O@(y(ÑB@(ÇÅ>(B;(>(~C(z>F(Ñ;A(=;(
O@(ÇC(O@(Ç>}(?>(OC((Ç>(?;(z>(}>(=N(y;((GCB(=;E(AC(z@(N(A@(Ç;O(Ç(yO(@NA>(Ç;((ÖN(O;OJ(
)@(FB@(?>(;A(=@(BC(AC(=>Ñ(=>(B;@(y;(FÇ;(ÖC(y;(FC:(=C(ÖC(A>(=>(~C(y;(Ö@(}@(B@(à@(FÇ>L
z>(FÇ>}(?C(>({(É;(=;(FÇ>(z>(FÇ>(?@(8(É;(=;(FÇ>(zCOP(O;(z>(FÇ>(?@(
8(O;(zCOP(FC(O@=(Ç;(FÇ>(z>(FÇ>(?@(8(FC(O@=(Ç;(FÇ>(zCOP(F>=(Ç@?(F;(FÇ>(z>(FÇ>(?@(
8(F>=(Ç@?(F;(FÇ>(zCOP(zC?(F>}(?;(FÇ>(z>(FÇ>(?@(8(zC?(FC(O@J
uO>O'^ç';ç'åÑ;>'ã

1,02&'3%,1,3%,°4,(+",3%#+(+",('5"*!,($4'134.(1.4%,".
íF+5$)õ9.)/4)$F6)7"@*%7#)-A'N%x
íF+5$)2F"5l)2íF+5$l)í@*Ó)0A'N%x
íF+5$l)-,@.%l)'@/(0(M&Ó)"A64lsss
(¨ë(0)$*#)0#)6(µ)4$"%).#
*F;(=@=(~@(ÖC(=@((Ç;(>((B;(?@(z>(@?(~C=(Ç;(B@(=>J(
0@(y(OC((O@{(
@('Ö(AC(B;Ö(?;P(A(ÖN(FzN(|@ÖP(FB;(ÖN(FO@(Ç(ÇC((ÖN(?;(Ö@(ÖC(>((Ö@z(=;E((~C(>(A((BC(N(FB@(?;(A=CB(=;O(E;(B;(L
(Ç;(É;(=;(FÇ>(z>(FÇ>}(?>(?;O(y;(=;(B@(=C{
¢%)î#)íFí4Ç)íFíl)()7F74Ç)7F7s
*(@(ÉN=?(~>(;(=@z(=;FÇ(yÖ(F?;E(¨@?(~C(=@Ç(F?;L?B@=(Ç>(ÇCÇ(F?;E(ÉC(=;LOCL
=@(F?;(

ó.9õs
!"Fµ*(0'Ó)7A0()$"A/Ü
L"µ)µ"90#)îG'
öG'
A0&#)"(~>(ÖN(yC(FOC(}>(=>(§ä(@?(~C(=@Ç(F?>Ñ(~C(z>(=@P;A(?;(Ö>Ñ(F@(O;(ã(>O@(ÖN(
N(z@(=N(>=(Ç;(=@(~>(ÖNP(@(FB>(;FÇ@(z>(¨§H(F>(z@(=NJ()@(Ç>OP(>@?;(yC(FO@(F@(A(
B>(|C(FBC(Çz>Ñ¥((B;(?@(z@(=C(E;(Ç@O(=>Ñ¥P}>(àC(=>(~@(ÖC(A@(FN(@?(~C(Ç;(B@(=>(Ç@O(=>(
B;(?@(z>(=>(F?;E(Ç;(=@(AN(yz;(B>(|C(@(FÇN(yÅC(=>(;A(@?(~C=(Ç;(B@(=>Ñ(FBC(Çz>Ñ(B;(?@(z@(
B>(F;(?;E(Ç;(=@J(*?;(Ç;(OC(A;(A@(O;(A@(ÖC(=@Ö(Ç@O(=>(Ö>(B;(?@z(e'=@Ö(}C(|DC(y;A(@?L
~C=(Ç;O{(;A(KH(y(OC((Ç>(A@(FC(N(;B;Ö(
yC(FO>(=C(A;(E@(@(ÉN=?(~>(;(=@z(=@(;y;(>(~>(Ö@(>(OC(N(=C(@?(~C=(Ç;(B@(=>Ñ(B;(?@(z@P(
=C(E;(>(OC(N(;=>Ñ(=@Ö(>(FÇ@?(=N(Ç>(Ö>Ñ(L(y;A(@?(~C=(Ç;OJ(&>(F;(?@(ÉÑ(B;(?@(z@(=>(F?;E(Ç;(=@(F@(F>(z@(=;O(>=(Ç;(=@(~>(Ö;O(@?(~C(=@(Ç@(y;(Ö@(}@(B@(
;y(|ÇN(Ç;(=@z(=;FÇ(E(=>((N(yC(FO>(L%)N%)'()M/5)ï4s
0@(FN(y(O;(N(FÇ>(Ñ;(B>(O@(!C(F@=(?C(-@?(F>L
O;(B>D{(
L5)2#)$5)-%l
!5)/"(6)74).()"()2()-4).(
ó%)*()*%)õ%l
ë5)75).5)î#)75)-*%)í4)"%
ë5)&#)64)"%l
æ%).%lí%)õ%x
¨L5)õ&(
&C(z>(?>(:O(FÇ>(Ñ;(B>(O@(ÖC(B>(F;(?C(Ç;(=@z(=;(FÇ>J(&;(Gà@(ÖC(
N?z;(yÅC(=@(N(>(B@((@O(:>(ÖC=Ç(O>((F@(>(BN(?@(F@(?;(Ö>(O@(ÖC(N(F@(BN}(ÖNJ
7;(=;(Fz>(z>(FÇ>}(?>O( F(O@( =@((Ç;( FC( y;(FÇ>(GC( C?F(yB(=;FÇ( N(
F~C=(F?;O(E;(B;(L
Ö@(zC(?@Ç(F?>O(ÖC(>}(?>O(;:C(zCG(Ö>(O@(y;(FC(:@=(CÉC(?@Ç(A@(ÖN(@?(~C(=@Ç(F?@(;A(FÇN(y@L
à@(;A(FÇ@=(A@(E;(B;((O;(@(y(OCÇ(?C(E;(B;((4;(|Ç@(=>(N(}C(ÇB(=N(
>FÇ;(>(OC(=C(A(D@{
“6)0%)ë5M.)A'x)ì9+'#)-%l)"(-,@-.#x)ó,A.5,#).%)N@/(,l)$*(05õ@&()
N@/(s)ì9+'#)-%s)ò%)7*AN#x)ó*

1,02&'3%,1,3%,°4,(+",3%#+(+",('5"*!,($4'134.(1.4%,".
*?;(:>(FO;(;B>O(?OP(>F(y(A@(=>OP(E(Ç>O(@NÇC=(Ç>}(=>O((~@(O@(A@(z>(FÇ@=(A@(;:(z>?(>(@?(~C(=@ÇP(=C(FÇ@(z@(:>(E;(=@(@O(:>(ÖC=(Ç@(?;L
Ö>(ÖC(5J(3Ç@=(?;(B>D(FB;(Ö>O(BO(NOC(DCO(:;(Ö>;(A>(Ö@(zC(?@Ç(F?>O(yÖL
F?>O(F(O@J(+;(FzN(|@Ö(O;{
á@Ö(ACP(4;(|Ç@(=@(!>E(=>(FC(>(;FBC(FÇ>(3B@(Ç;(B>(ÇC(}C(?@(ÖN(>(Oz@(A;(GC(à@(}CL
?@J(!>E(=>(FC(>(=C(O;Ö(yz@(?@(Ç>P(=C(E;(FÇCE(=>(F(Ç(ÖC(:;(}(?>Ñ( CzC(OC(=@(Ç@( yC(F=>?( BC(( ;(
FB;Ö(FÇB>(O@(y;(ÖC(A>(=>Ñ(Ez@(F;(B@(>z>(É;(=C(O@P(@(FBC(N(GC(Å>(A@(FC(y;(FÇ>E(=N(;AL
O(y(ÖCJ((.B;(y(OC((~>P( ?@;( &J( 0@(;( „,")N(/P( FÇB@((}(?N(Fz>(?N(?;((FÇC(D>(É;(=;(FÇ>(z>(FÇ>}(?C(CzC(OC=(ÇC(;=;(O@(Ç;(yC(ÖC{
ò()N,5)"4)î")'%)-$")N%J
uOéO'cç9'êç'åÑ(y(AC(B>(FN(Ny;(Ç(N(;A((AN{(7*A,Ô(P(7"Fµ*(0'Ó(P(îG'P(
"

ççä
÷(,5"/()("#'/5,#
3Ç>z(F?@(Ny;(Ç(FÇ>}(?;(>(?@;(F>=(Ç@?(F;(FÇ>(z>(FÇ>}(?;(FzN(FÇ(Ö@(O;(EN(NC(Ç>((-@(GN((DC(B>(FÇ>(Ñ;(B>({(
ë5)0()-."%)7#)$")/#),4)N%
ó)7*()'#')-/5)+()+*(0)'()$#)M(´
'B(AC(ÖC(;:(z>?(EC(=>(Ç>(B@(-)7*()'#')-/5)+((FÇ>z(F?>(;:;(ÖC=(=@(FN(y(}@(ÖCL
=;OP(FÇ@=(A@(=;(=>(ON(50)7*()'#')-/5)+(J
uOÜO(V6j'å(=;(=>(O>(Ö@(¨>FÇ;(=@}(=;FÇæ
L(y;(z>(FC(O>(Ö@(¨B>(|C(=@}(=;FÇæ
L(É(Ö@(¨NFÇ@(ÅC(=>(>(O(=N(FP(àC(=;Ö(zC(y;(Ç>P(FOCP(F?(>(ON(A(=@((yC(B@}(ÖC(>F(yC(B@;(N(yC(FO>(ó"7)-/()0%),56)/(J(ØC=(F?@(zC(y;(Ç@P(>F(Ç@?L
=N(Ç@(;=@(?;(?@(?;(ÖC(FÑB@(Ç@(};(BC?(>(=@((ÖC(y?(;B(AC(É;((Ç>B(=;O(AC(zN(
yC(FOC(ÖC(O;(Ç>B(É>(>}(?C(zC(y;(ÇC(>(Ç;(FC(;yC(B@(F@(O;(zC(y;(Ç@(z>(~@{
º)#)*#)î%)04)+%)."%)7(),#)î%l
75)/"#)*%)656)"4)$%')r)6()+5)0#)î%l
6()+5)0#)î%)#)í#)6%)*5)*#)î%s
!@(?zCP(yO(FÑB@(Ç@(à>(O@(=@((=@(|CE(=@(AC(@z(=>(;:(~@(ÖC{(í%)*5)*#)î%l)"4)$%)'%)6()+5)0#)î%)
>)04)+%)."%)7(),#)î%J(#(FzC(AC(DCO(FÇ>(ÑN(FC(A;(A@(ÖC(Ö;|(ÖC(A@=(CzC(OC=Ç((L(î")'%)5N#J(
+(ÖC(FN(NFÇ@(ÅC(=>(Cy>(ÇC(Ç>(é6'ãç(z>(~CP(98'ë6';6'Ö@(E;L
A>(~CP(=9';6(;}>P(:8'á6'Ç(~C(8(?@;(;F=;B(=>(y;(CÇ(F?>(F>O(:;(z>(N(=@((GCB(=;(FÇ>J(+@(GÅ>(B>(Ö>O(}>(Ç@(àCO(;B;E(AC(z@(yC(FOC(N;}@(B@(FC(>(FzC(AC(DCæ(
O;(Ç>B( ÇC(zC(F=C( zC(y;(ÇC( N( =@((;(FÇ@B(=;( y;A(( ÇC(zC(F=;( A(>}(?;E(A(O@;(y(FÇC=(~>(ÖN(ÖC(A>=(?C(Ç@(?;(>(@(;y(FÇ@(Ö@(àC(@(ÖCA(=>(~CJ(!@(ÖCP(y@?P(É>(>}(?;(
A(NFz;B(@(Ç@(?BC(;:(z>(?C(y(B;A(àC(>(z>(|=;(ÖC(>F(Ç>(~@(Ç>J(
3(?N(ÖC(FC(F@(O;(É>(>}(?;O(zC(y;(Ç;O(>(A

1,02&'3%,1,3%,°4,(+",3%#+(+",('5"*!,($4'134.(1.4%,".
F@(=@(àC(FC(y;(F(A@(ÅCE((=@(}>(=@(à>(Ñ;(BC(
;:((A>(N(ÖCA(=;OP(N(=@(|CO(=@((}@(ÖN{(
;(N(ÖC(;(A@(DC(->(z>(~@P(O@(?@EP(y;(?@(@(Ç>(
zC(y;(ÇN(FB;E(z>(~@J(Ø>(B;(y>(F=N(Fz>(?N(F(?@;(
;?B>(ÅC(=@(?;(OC(DC(y(Ç>(Ö;|(ÖCA(=NP(F@(A@(O;((=N(F(Ç>(>((B;FÇ(>(;Ñ;(z;FÇ(>(N;:(z;(;(É>(Ö>(CFÇC(Ç>(?C(ÖCP(>=@(}CP(y;(=@Ç(FÇ@B(A@(ÖC(>F(Ç>(~@(àC(zC(y;(ÇC(
y;(=>(|Ç@(B@(àC(àC(=>Ñ(B{(3@(O;(y(y|C(=>}(=>(?z@F(FÇ;(Ö>(B>(F;(?;(
N(A>E(=NÇJ¥
-;(Ç>B(AN(Ñ;B(=CP(?@;(=@(}@Ö(=>(ÖC(zC(y;(ÇC(yC(F=>?((Ö@(EB(=>O(Ñ(>(y>?(ÇN(Ñ(O;(OC(=@(Ç@J(+(}z@=(;BC(Ç(>F(?@(Oz@(A>(D@(A@(->(z>(~N(EzC(A@(Ç(E;(A>(=CP(@(A@(ÇN(zCL
y;(ÇN(Ö;|(=>(ÖC(F@(EzC(A@;J(!(}z@=(E(ÖC(;FÇB@((?;O(?;(z@(¨;E(z;{(
!5)5í)*#)/4)2()-6%),()M%)$4)&%l
-,%)3%),56)/%)/)'%)í4)75)+*%)0()M%l
(*–)'%)+*%)0()#)*#)î()3%),56)/(l
,%)7"%)0()-%)4)2%)*%)'4)."(),4s
%P(=@Ö(B>(|>(FÇC(yC=(E(ÖC(;FÇB@((~;OJ(0@(>(Ñ(A(z>(~@(;A(E;(B@(

÷(,5"/()("#'/5,#
+C(FO@( ó"7)-/() 0%),56)/(( >F(yC(B@(=@( ÖC( N( =@((yC(Ç;(FÇ;y(=>(Ç

1,02&'3%,1,3%,°4,(+",3%#+(+",('5"*!,($4'134.(1.4%,".
VTS\$"Se$"
5Cz>DP(*zC?F@=A@?(åP(5C;E(F@FÇ@=@?(N(&N?;BC(A@=CP(?àJ(Hç£HP(KççLK§HJ
Ø>B?;B>DP(!|@P(ó.#*#-.#/()/(5)'(4/()5)6%2#/4)#)/&#õ%,'5-.#P('AÖC?(åL(ãP(
3@DP(!N|@=P(÷%2#N/#)-#-.%$)#)75%.-/()+"($(.#/(P(5,2)P(5C;EDP( !N|@=P( æ#'+,5-.#*#-.#N/%) ('(*#2%P( !(
?à>GCB=;FÇ(3"3P(5C;EDP(!N|@=P(æ#'+,5-.#*#-.#/()/(5)7"#$%&%'()*#'+,#-.#/(P(2;A>|à@?(3@BC@(
A=EB>FÇ>?N(6NE;Fz@B>ÖC(çP(5C;EDP(->z;|P(ó.#*#-.#/()#)+"($(.#/()-.#*-/#µ)ª#+4"(P(#=>?|>DP(
KIâåJ
üpsjhrî(XiìuskP(]:b9RCFB@H9E=R9)G@X:9R)PFH@G:@)C9:;Q9=>9R@P(WmîshP(aimoprkP(KIäåJ
ZiésíP(õkinèmP(ä@k9R)9)R:E9@Q:F)HE@CFP(õrumk(r(skrurnìi(lkëwinsèrP(RrprìiumP(KIâKJ
+C~;P(*F>OP(“/î%'(.-/()N#.('/(P(0@N}=@(?à>E@P(5C;EO>DP("@A;ÖCP(æ#'+,#-.#/()-.#*(P(#=>?|>DP(KIIçJ
^prnìsíP(üplnmjîrul)ä@k9R)9)R:E9@Q:F)H@CFP(Soîiks(r(îsnoumjhsîsjhsêèl(rnrîsl(l(nrlgs(m(
ènìsëiunmjhs(s(nrjhrus(ènìsëiunmjhsP(U[`SP(Wmur(ñpmjuihrP(aimoprkP(KIäåJ
+CÇ?;B>DP(0;B>~@P(÷%2#/)4)/&#õ%,'5$)0%*4P(0;z>ÇP(5C;EDP( 6@B;

÷(,5"/()("#'/5,#
Yn(ijjrïrnh(kfrhhisnkpi(îij(snòmpvrhsmnj(ki(îfmilupi(îshhtprspiP(ml(ñpinrnh(in(gmnjskiprhsmn(
gihhi( milupi( krnj( îi( nmluirl( hivñj( ih( kiurnh( nmluiîîi( rlkshsmn( ¨ñrpòmsj( sî( jfrosh(
ki( nmluiîîi( oiniprhsmn( jgmîrspi( tîmsonti( ki( hivñj( ki( îr( gptrhsmn( ki( îfmilupiP( sî( òrlh(
gómsjsp(rhhinhsuivinh(lni(vthómki(ml(kij(vihómkijJ(Uî(ijh(snksjñinjrwîi(úli(îr(vthómki(
îsnolsjhïîsjhsúli(jmsh(ntgijjrspiJ
oF>=rbCD={(îsnolsjhïîsjhsúliP(jhïîqviP(ñómnmjhïîqviP(vmpñómjhïîqviP(jïnhrmjhïîqviJ(
6@B;

0-&(&#40X*-1,-0T
S\ÆPQ»\'e'Sec"\ge''
V\P!TP\'R"$Q#R\'S$"#TfT&\''
e'V\PST$T''RT%T'$"W$\#"'Q!RQUR\'ÆPQV\
+(?C(=@((ÖC(=@(}@(F;(B>(O@(;:(((=@(FÇ@B(=>(~>(A@(N}C(=>(~>(O@(y(:z>(GC(
ÇC?FÇ(?;(Ö>(F@(A(ÇC(zC?(FC(OCJ(4@(?;(:>(FO;(y(?;(z>(?;(N}C(=>(~>(y;(=@(ÖN(zC?(F>L
?N(=@((ÖC(ÇC(FÇ>((FN(N}C(=>(~>(A

344
ÿ,('()ó#$5,ï%,#
GCB(=;FÇJ('A(y(EC(?;(ÖC(F@(A(:;(=@((GCB(=;(FÇ>J(#}>(ÇCÅ(=>(ÖC(;:@L
BC(@=(A@((N(ÖC(?;O(yzC(Ç@=(y(Ç@=(~>(
ÇC(ÖC(O;(EN(DC(A@(=C(?>(N}C(=>(~>(=>(FN(Ny;(=@(Ç>(F@((ÇC?(FÇ;(B>(O@(?;(Ö>(>O(O;(EN(
?@(F=>(ÖC(:>(Ç>(;F=;(B@(@((GCB(=;(N(OCÇ(=>}(?>Ñ(ÇC?(FÇ;(B@J
4@(?;(:>Ñ(y(((O@(=C(y;(=@(ÇC(¨@}(=C(P((?;(Ö>(O@(FC(;=@(}@(B@(ÖN(y;Ö(O;(B>(?;(Ö>(B>(|C(=C(y;(FÇ;(ÖCP(ÇN(O>P((
?;(ÖC(;=@(}@(B@(ÖN(@(=@(ÇC(?;(Ö>(O@(FC(B>(|C(=>(?;(=C(:@(B>P(A>(Ö@(zC?(Ç>(O>P((?;(ÖC(
;=@(}@(B@(ÖN(y;Ö(O;(BC(?;(Ö>(FC(;A(=;(FC(=@(FC(;(F?>(=@(}>=(G>(B;(Ç@P(=y(L
O@(@z>(FN(C?F(~C((=C(:(=C(?;(z@(F@O(>Ñ(N(E(y;(?ND(FÇB;P(zC?(FCL
OC(?;(ÖC(;=@(}@(B@(ÖN(y;Ö(O;(BC(?;(Ö>(FC(;A(=;(FC(=@(=(F?C(;A(=;(FCP(zC?(FC(OC(?;(ÖC(
;=@(}@(B@(ÖN(y;Ö(O;(BC((?;(Ö>(FC(;A(=;(FC(=@(=@((B;Ç(=C(~>(?zN(FCP(zC?(FC(OC(?;(ÖC(;=@(}@(B@(ÖN(
y;Ö(O;(BC(?;(Ö>(FC(;A(=;(FC(=@((E>(ÖNJ
#(?;O@(=@Ö(B>(|C(zC?(FC(O@(?;(ÖC(FC(;A(=;(FC(=@(FC(;(F?N(?Nz(ÇN(( ;F@O( zC?(FC(O@J( 0@(BC(|DN( F@(O;( =C(?C( zC?(FC(OC( >( ?;Ñ(;A(;B>Ñ(zC?(FC(O@(O;(EN(y(y(=@(FÇ@BL
=>(~>(O@(>(N}C(=>(~>(O@(N(EO(F(=@(O@J(+;(FÇ;(Ö>(;EL
OC(N(Ç>(y@(?Nz(ÇN((ÖC(y(?@(@=(N(ÇC?(FÇ;(B>(O@P(>(Ç>(y@(?Nz(ÇN(

%.$4'Æ.(#(%#-*°./#(1.43,4.(0*"'!0.(%"*!,Ü,6.(#(1.4%,",(JJJ
F@(B?(Ö@(>(OC(N(Ç(~>(;(=@z(=C(?Nz(ÇN((
?Nz(ÇN(ÅN(A>(A@(=@FJ(
#(;B;Ö(E(zC?(FC(O@(=@(z@(C(FC(>(zC?(FC(OC(?;(ÖC(;=@(}@(B@(ÖN(y;Ö(O;(BC(?;(Ö>(
FN(FC(;A(=;(F>(z>(=@(FC(;(F?N(?N(DN(>(y;(?ND(FÇB;{),"%).%)'5l)04)M%/l)/()î(l)/5)/5)M/(l)
/5)"#).5l)*5)7("l)75)&(),(l)75)0"4$l)-(')04/s()=@(}C(àC(zC?(FC(O@(/5)/5)M/()A@(Ç;(ÖC((N(
zC?(Ç>(P(|Ç;(ÖC(B@(G=;(ÖCO@(A(FC(O@=(Ç>}(?>(F@(A(=@(ÖN(
N}C(=>(~>P(y@(>O(ÖC(y;(Ç(( C?F(~C((:;((DC(FC(NB(Ç>(N(?à>(EN(Ç@(?;(C(Ç(Ç>((y(OC((ÇC(O@J
+;(FzCA(à@(E(ÖNJ(%;(FN(zC?(FCL
OC{(K5+l),"(+l)3(),5l)*%).4")3#)6(l)î")/,(s))=@(}C(à@(zC?(FC(O@(?;(ÖC(FC(=@(z@(C(N(;B;Ö(
E(=C(:>(Ç(~>(O@J(1C?(FC(O@(}>(ÖC(=@(}C(àC(
N}C(=>(~>(O@(O;(GC((y(y

ÿ,('()ó#$5,ï%,#
'A(?@(A@(ÖC(&C((y(
>O@(ÖN(O=;(E;(B>(|C(y(z>(?C(A@(FC(Ny;(=@(ÖN(F@(y;Ö(O;(B>(O@(?;(Ö>(FC(;A(=;(FC(=@(
~(BC(}(?C(E(~>(O@(A@((AB;(ÖC(=>Ñ(zC?(FC(O@(?;(ÖC(FNP(
O@(àC(L(B>(|CP(@}(=CP(
HJ(?@(?;(>O(y;(O;(DN(Ç>Ñ(zC?(FC(O@(y(:z>(G>(Ç>(ÖCA(=;(FÇ@((y;Ç(yN(=;(AL
ÖC(B

%.$4'Æ.(#(%#-*°./#(1.43,4.(0*"'!0.(%"*!,Ü,6.(#(1.4%,",(JJJ
}C(à@(y(O@Ñ(ÇC?(FÇ;(B@(?@;(>((~>(N(?;(Ö>(O@(DC(FC(=@(D>(AC(É>(=>(~>(ÖC(
zC?(FC(O@(y(z@(E;(C(=C(=@(àN(>(N((?@J(
uO'h$"P'ST'"R'$"#'!"'e\'RT'fT'c"
!@(:>(FO;(y(?;(z>(?;(N}C(=>(~>(y;(=@(ÖN(=@(}C(à@(zC?(FC(O@(>(=@((ÖC(F@(FÇ@(BÅC=(ÖC(ÇCFÇ(>(ÇC(FÇ>((FN(N}C(=>(~>(A(O;(A@(;=@{(
L|>(ÖC
LBC(N(ÖC
LBC
¨@(;(?
¨-@(ÇC((=@(ÑB@(z@øP(|@(Å>(B@(yC(FO@(¨FÇ(z>(=>(Ö;O(O(|Ç;(=@(}>{
( ( ( OC(F>(Ç>(
(((((OC(FÇ>( ( y;(O@(E@(Ç>
( ( ( }>(FÇ>(Ç>((((((((((((((((((((((((((((
¨+C(yC(ÅN(E@øP(:@Ö(?@(¨FÇ

ç§ä
ÿ,('()ó#$5,ï%,#
#(y(|C(zC?(FC(O@(6()-*%s(&C(D>(=@(N}CL
=>(?@(=>(ÖC(=@(z@(=@(}C(àC(zC?(FC(OC(6()-*%J(0C(?;(z>(?;(N}C(=>(?@(ÖC(FO@(Ç(~>(FO@(Çz>(BDJ(,@?;(ÖC(zC?(FCL
O@(A@(Ç@(N(?;=(ÇC?(FÇN(N}C(=>(~>(=>(FN(=@(z>(|Ç@(;=@(}@(B@(@(A@(Ç@(zC?(FC(O@J(4@(A@(
NOC(O;(N(;:(>Ñ(=@(}C(àC(
zC?(FC(OC(6()-*%(@F;(~>((~CP(;A(=;(F=;(BDJ(
!(ÖC(=@(}C(àC(ÖC(Ç(~>(A@(=@(y>(|N(:>(z@(ÖC(zC?(FCL
O@(5í5"s)(1C?(FC(O@(5í5"P(?;(Ö@(FC(;A(=;(F>(=@(G>(B;Ç(=@(FC(zNP(N}C(=>(~>(O@(?;(Ö>(G>L
BC(N(E(ÖC(=C(y;(=@(Ç@J(%;(FN(y;(?@(@(z>(;A(E;(B;((N}C(=>(?@J(&>(|C(
;A(y;(z;(B>(=C(ÇC(FÇ>(Ñ(N}C(=>(?@(=>(ÖC(=@(y>(F@(z;(;A(E;(B;(?@(¨;A(FC(A@O(AC(FCÇ(ÖC(=@(y>(F@(z;(A@(ÖC(=@(}C(àC(zC?(FC(OC(L(|Ç@(z@J(!B;(ÖC(
N}C(=>(?@(FO@(Ç(;A(E;(B;J(0@(>(B>((FC(;(F?>Ñ(;:ÖC(?@(Ç@(EAC(FÇ;(?@(:;((=>(FN(y;(=@(Ç>(N}CL
=>(~>(O@(N(EO(F(=@(O@J('=>(ÇC(|?;(O;(EN(A@((OC(N(
Ç;(( |Ç@(zCJ( )=@(}C(àC( zC?(FC(OC( FB>(à@~( N}C(=>(~>(O@( ÖC( y;(=@(Ç;( >(
F>(EN(FO;(B>(|C(Ç@}(=>Ñ(;A(E;(B;((z>(A@(ÖC(Ç@(zC?(FC(O@(=@(OC(FÇN(zC?L
FC(OC(5í5"(N(ÇC?(FÇN(N(zC?(Ç>(J
#( A( y;(=N(C(=@( FN( Ç( ;A(E;(B;((;A(E;(B;((Ç@(àC(|Ç@(BC(>(Å@({(|>(ÖCP(BC(C(>z>(
BC(N(ÖCJ( )=@(}C(àC( zC?(FC(OC( ,%)2#)ï(( N}C(=>(~>(O@( Ç@(?;(C( =>(ÖC( y;(=@(Ç;J( &>(|C( ;A(
y;(z;(B>(=C(ÇC(FÇ>(Ñ(N}C(=>(?@(=@(y>(F@(z>(FN(A@(ÖC(BC(>(Å@(;F;(:@(?;(Ö@(BC(N(ÖCJ(
1C?(FC(O@(ÖC(A@(Ç@(>(B@=(?;=(ÇC?(FÇ@J(#}C(=>(~>(O@(?;(Ö>(=C(=@(ÖN(=@(}C(àC(zC?(FC(OC(
=C(:>(FO;(;z@?(|@(z>(=>(A@(FO;(=@(BC(z>(zC?(FC(ON(N(?;=(ÇC?(FÇN(ÖC(zC?(FC(OC(|B@(Å@((>((~@(}>(Ö@(=@(}C(à@(
N}C(=>(~>(O@(Ç@(?;(C(O;(EN(y(y(=>(Ö;O(zC?(FC(ON(F@(;A(E;(B@(O(=@(}C(àCOJ()@L
A@(ÇC(FN(zC?(FC(OC{($%)-.#(>(-()$("s(3@(O;(yCÇ(=@(CFÇ(N}C(=>(?@(ÖC(Fy;(Ö>(z;(Ç@(}@=(
;A(E;(B;(;A(E;(B;((FN(:>(z>{(}>(FÇ>(Ç>P(OC(F>(Ç>P(
y;(O@(E@(Ç>J(°@?(yC(AC(FCÇ(>(ÖC(A@=(N}C(=>?(O>(Fz>(A@(ÖC(=@(}C(àC(zC?(FC(OC(OC(F>(Ç>J(
%;(=@O(y;(?@(N(ÖC(A@(ÖC(=@(}C(àC(zC?(FC(OC($%)-.#(N}C(=>(~>(O@(?;(Ö>(FN(ÇC(FÇ>((
A@(zC(?;(>(=C(y;(=@(Ç;(ÖC

%.$4'Æ.(#(%#-*°./#(1.43,4.(0*"'!0.(%"*!,Ü,6.(#(1.4%,",(JJJ
=>(à>(Ñ;(B;E(y@(F>B(=;E(zC?(F>}(?;E(É;=(A@J(#}C(=>(~>(?@(?;(N(EO(Ç@(?;(>(N(
FC(;(F?>O(F(=@(O@(=C(O@(ÖN(=>(N(@?(Ç>B(=;O(=>(N(y@(F>B(=;O((?N(O=;(EC((
?;(ÖC(FC(O;(EN(=@(D>(N(AC(z>(O@(=@((GCB(=;(FÇ>J(
úO'W"'Pe'"P
4@(?;(FN(N}C(=>(~>(>(F@(O>((=C(y;(=@(ÇC(FN(>O(zC?(FC(OC(?;(ÖC(=>(FN(=>(?@A(
}N(z>(y@(F@(O>O(Ç>O(=>(=C(=@(ÖN(à>(Ñ;(B@(=@(}C(à@J(#(;B;O(FzN(}@(ÖN(Ç;(FN(zC?(FCL
OC(?;(ÖC(FC(;A(=;(FC(=@(FC(;(F?>(=@(}>=(G>(B;(Ç@J
)=@(}C(àC(ÖC(A@(Ç;(@(F@(O;(yC(AC(FCÇ(zC?(FC(O@(|Ç;(=@Ç(=;(;ÇC(G@(B@((:;(:>(?B@(z>(ÇCÇ(=>(ÖN(;:((GCBL
=;LNOCÇ(=>}(?;E(AC(z@J
+(~>(O@( FN( =@(}C(à@( zC?(FC(O@( =@((ÖC(y;A(ÖCA(=@(?;(=C(y;(=@(Ç@(>(?@(A@(FN((zC?(FC(OC(A@(ÇC(N(?;=(ÇC?(FÇN(>(?@(A@(FN(
>(AB;(ÖC(=C(>(?;=(ÇC?(FÇ@J(0@(FÇ@B(=>?(:>(Ç(~>(O@(y;(Ö@(F=>(=@(}C(à@(=C(y;(=@(Ç>Ñ(zC?(FC(O@(>(y(:z>(G>(>O(B(FN(Ç>O(zC?(FC(O@(O@(;=@(}C(=>J
%( A@( y;(FÇ;(Ö>( |?;z(F?>( ?( A@( :>( =@(FÇ@B(=>(~>P( N}>(ÇC(Å>( >(
N}C(=>(~>((O;(Ez>(A@((O@(>(
y(z>(?C(?;(ÖC(FN(;:C(zC(G>(zC(G>(B;Ç(N(y(@(?;(Ö>(ÖC(;y>(F@=(N(ÇC?(FÇ;(B>(O@(
;:@(BC(=C(zC?(Ç>(DP(+@BzC(¨KIIä(ó"7-/#)6%2#/))#)/&#õ%,'5-.))4)'(-.(,'56).%5"#6#)#)7"(/-#l)
%.50#/()'(-.(,%l))O@ÖP(0;B>(3@A
ÄN:C=?;B>DP(3Ç;Ö@A>=(¨HMMH(÷()-($)N405),#0%5P()@B;A(@(NÔ:C=>?C(>(=@FÇ@B=@(FDP(->z>Ö@(¨KIää))%.50#/()'(-.(,%)-"7-/5µ",(.-/5+)6%2#/())#))/&#õ%,'5-­
.#P()@B;A(@(NÔ:C=>?C((>((=@FÇ@B=@(F

ÿ,('()ó#$5,ï%,#
;>7H7#K;6D>B;?
VdY(^`SaZYôR(Sb(UWVY`^`YVQVUSW(Sb((ZY¢UTQZ(UVYôR(
UW(bSZü(V`QXUVUSW(`YQXUW[R(bS`(ZS©Y`([`QXYR(Sb(YZYôYWVQ`†(
RTdSSZ
aO;BÅCB>D
#=>BCÇCÇ(N(0;B;O(3@ANP(3Ö@
7>z;;ÉF?>(É@?NzÇCÇ
iLvrsî{(lpnrîsjhsèrJsurnrÀovrsîJgmv
çåM

Uc(
6.),4(3%"#4.
ZQW[\Y(XY(R^_TUQZUV_
ZQW[\Q[Y(bS`(R^YTUQZ(^\`^SRYR
çåK

çåH

&B;H7.7H:8==7#:87`D=KOF
)b-',*X`4*`-'ZL'aZ,1)1Y*,'YZ33-Y)X-//'1X'
+4/1X-//'-X`,1/b
Rsngi( îrnolroi( lji( sj( r( glîhlprî( rghP( jhlkinhj( mò( Ynoîsjó( òmp( Rñigsrî( ^lpñmjij( ¨YR^(
jómlîk(wi(ñpijinhik(shó(piîiurnh(gpmjjLglîhlprî(snñlh(8(jlgó(rj(¥ñmîshsgrîîï(gmppighø(hipL
vsnmîmoï( 8( óin( ljsno( hói( Ynoîsjó( îrnolroiJ( aijskij( mhóip( îrnolroi( jèsîîjP( îirpnipj(
mò(Ynoîsjó(mloóh(hm(wi(rrpi(mò(hói(isjhingi(mò(r(ni(jih(mò(gmvvlnsgrhsmn(hipvj(rnk(
plîijJ(ômpi(jñigsûgrîîïP(lnrrpinijj(mò(hói(ni(pirîshsij(mò(¥ñmîshsgrî(gmppighnijjø(vrï(
îirk(hm(jipsmlj(òrlLñrj(sn(snhipglîhlprî(gmvvlnsgrhsmn(mò(rîî(jmphjJ(Vósj(ósoóîï(jinjshsui(
sjjli(ósgó(sj(rîjm(hói(mwìigh(mò(hói(ñpijinh(ñrñip(órj(wigmvi(r(hpink(sò(nmh(r(vrnsr(sn(
hói(YnoîsjóLjñirèsno(inuspmnvinhP(ijñigsrîîï(sn(QvipsgrJ(`mvrnsrnj(rpi(wigmvsno(vmpi(
rnk(vmpi(rrpi(mò(sh(rj(iîî(rnk(piginhîï(kiusjik(iñpijjsmnj(órui(pirksîï(wiin(wmppmik(
mp(grîúlik(snhm(`mvrnsrnJ(Yrvñîij(mò(¥ñmîshsgrî(gmppighnijjø(prnoi(òpmv(gmvvmnjinjsL
grî(nilhprî(oinkip(hipvj(ósgó(órui(piñîrgik(hprkshsmnrî(vrjglîsni(òmpvj(hm(mhóip(niîïL
snuinhik(ñóprjij(wmpkipsno(hói(rwjlpkJ
Y@egFGH={(gmvvlnsgrhsmnP(wlsjsnijj(inoîsjóP(glhlpiP(ñmîshsgrî(gmpighnijjJ
lO',1X`41/)1Y'YZX/1.-3*)1ZX/
lOlO'*'zKoxEoGJq'ozzKFoqt'GF'zFBJGJqoB'qFKKAqGpADD
^provrhsgj(sj(r(ljiòlî(hmmî(sn(rnrîïsno(jñirèip(virnsno(rnk(lhhiprngi(snL
hipñpihrhsmnJ(Vósj(rpir(mò(îsnolsjhsgj(sj(gmngipnik(shó(hói(jhlkï(mò(óm(gmnhih(
sn¿lingij(hói(snhipñpihrhsmn(mò(virnsnojP(sngîlksno(ihprîsnolsjhsg(òrghmpjJ(Uh(órj(
rîjm(wiin(kiûnik(rj(¥virnsno(sn(ljiø(mp(¥virnsno(sn(gmnhihø(¨VómvrjP(KIIå{KL
HJ(VóljP(sh(jhpijjij(jmgsmîsnolsjhsg(rñhshlki(rnk(mhóip(niikòlî(jèsîîj(piîrhik(hm(
hói(niomhsrhsmn(mò(virnsnoJ(Vói(vrjjsui(svñrgh(sh(órj(órk(sn(hói(ñrjh(kigrkij(
ñpmuskij(snjsoóhj(snhm(jmgsmîsnolsjhsg(gmnklgh(rnk(vinhrîshïJ(
^provrhsg(hóimpsij(rîjm(iñîmpi(hói(urpsmlj(îiuiîj(mò(virnsnoJ(aiïmnk(hói(ûpjh(
îiuiî(ósgó(sj(hórh(mò(rwjhprgh(virnsnoP(hóipi(sj(r(gmnhihlrî(virnsno(mò(rn(lhhipL
rngiP(svñmjik(wï(r(jipsij(mò(ihipnrî(gmnjhprsnhjJ(Vói(rwjhprgh(virnsno(sngîlkij(hói(
çåç

“C9:ArT:HG@@A)^GA;F@=b<
prnoi(mò(îsnolsjhsgrîîï(ñmjjswîi(virnsnoj(ñpijinhikP(òmp(snjhrngiP(sn(r(ksghsmnrpïJ(
Sn(hói(gmnhprpïP(hói(ñpmgijj(mò(rjjsonsno(jinji(hm(rn(lhhiprngi(gmnhihlrîîï(vrï(wi(
gmnumîlhik(sn(grjij(jlgó(rj(ñmîshsgrî(gmppighnijj(¨rwwpiusrhik(hm(^TJ(bmp(giphrsn(
skimîmosgrî(pirjmnjP(hói(jiîîsno(îisgmn(mò(^T(órj(wiin(gmngmghik(wï(vrèsno(lji(
mò(rvwsolshï(rnk(snkspighnijjJ(©ósîi(hói(rjjsonvinh(mò(jinji(hm(mpkj(sj(nmpvrîîï(
r( jhprsoóhòmprpk( ñpmgijjP( hósj( hmphlmljnijj( opirhîï( gmvñîsgrhij( hói( sjjli( lnkip(
ksjgljjsmnJ(VóipiòmpiP(hói(irgipwrhik(rvwsolmljnijj(rnk(iúlsumgrhsmn(ósgó(rpi(
svñîsik(wï(^T(îrnolroi(vrï(wi(gmnjskipik(snrgglprhi(rnkP(sn(r(giphrsn(rïP(iuin(
sngmppighP(rh(îirjh(òpmv(r(îsnolsjhsg(ñmsnh(mò(usiJ(
Un(hpïsno(hm(vrèi(hósj(grjiP(jiuiprî(nmhsmnj(mò(ñprovrhsgj(sîî(wi(ljikJ(Sni(
ksjhsnghsmn(hórh(mloóh(hm(wi(vsnkik(sn(ñprovrhsg(rnrîïjsj(sj(hórh(wihiin(hói(snL
òmpvrhsui(snhinh(mp(hói(jinhingi(virnsno(rnk(hói(gmvvlnsgrhsui(snhinh(mp(jñirèL
ip(virnsno(¨ZiigóP(KIäçJ(Vói(vmpi(hóiji(hm(virnsno(ksòòipP(hói(vmpi(ksòûglîh(
sh(sj(hm(rjjijj(hói(lhhiprngi(sn(r(gmppigh(rïJ(Vói(ñipòmpvrhsui(gmnhinh(mò(îrnolroi(
niikj(hm(wi(hrèin(snhm(gmnjskiprhsmn(sn(hói(vrhhip(rj(iîîJ(Q(jñirèipfj(lhhiprngi(
kmij( nmh( mnîï( jhrhi( jmvihósnoP( wlh( rîjm( grppsij( òlphóip( svñîsgrhsmnP( óihóip( sh(
osuij(snòmpvrhsmn(mp(iñpijjij(rn(rhhshlkiP(rj(inkmpjik(wï(hói(Rñiigó(Qgh(VóimpïJ(
blphóipvmpiP(svñîsgrhlpi(piòipj(hm(rn(snkspigh(mp(svñîsgsh(virnsno(hórhP(òmp(ksòòipL
inh(pirjmnjP(sj(nmh(svviksrhiîï(ñpijinh(sn(ljiJ(ômpimuipP(hói(hpirhvinh(mò(virnL
sno( vrï( rîjm( wi( rkkpijjik( wï( ksjhsnolsjósno( wihiin( nrhlprî( rnk( nmnLnrhlprî(
virnsno(sn(îrnolroi(ljiJ(bsnrîîïP(hói(ñpsngsñîi(mò(piîiurngi(kijgpswik(wï(jmvi(
hóimpsjhj(rññirpj(hm(wi(sn(gmn¿sgh(shó(Ziigófj(¥ñpsngsñîi(mò(ñmîshinijjøJ(Un(hpïsno(
hm(gspglvuinh(uipshïP(ñmîshsgrî(gmppighnijj(vrèij(lji(mò(nmnLnrhlprî(îrnolroiP(svL
ñîsgrhlpiP(rnk(jhipimhïñik(ilñóivsjvj(sn(r(gmnuinhsmnrî(vrnnipP(hólj(wigmvsno(
sppiîiurnh(sn(hipvj(mò(shj(mn(rsvjJ
lOmO'YKFDDÅBJpx@JDGJq'zKoxEoGJqD'opH'Bopx@oxA'KABoGJnJGr
Wmhshójhrnksno(hórh(giphrsn(ñprovrhsg(lnsuipjrîj(lnkipîsi(ZH(rgúlsjshsmnP(sn(
hói(wlpnsno(grji(mò(^TP(ómiuipP(hói(gmppigh(lnkipjhrnksno(mò(jmvi(ûni(ksjhsnghsmnj(
sj(rwjmîlhiîï(nigijjrpïJ(TpmjjLîsnolsjhsg(rnk(gpmjjLglîhlprî(jhlksij(órui(ñpmvñhik(r(
opmsno(snhipijh(sn(rnrîïsno(ñprovrhsg(ñpsngsñîij(hórh(ñimñîi(rwski(wï(sn(ksòòipinh(
îrnolroijJ(Uh(órj(wiin(jómn(hórh(órh(sj(gmnjskipik(ñmîshi(sn(mni(îrnolroi(vrï(
nmh(rîrïj(wi(ñmîshi(sn(rnmhóipP(kiñinksno(mn(uipï(ñrphsglîrp(gmnhihjJ(VóipiòmpiP(
gmnhprjhsui(mp(gpmjjLglîhlprî(ñprovrhsgj(rîjm(rkkpijjij(hói(glîhlprî(wpirèkmnj(rnk(
ñprovrhsg(òrsîlpi(hórh(jhlkinhj(niik(hm(rumskP(ósîi(rîjm(vsnksno(îlksgpmljnijjJ(
bmp(hórh(pirjmnP(r(giphrsn(rvmlnh(mò(glîhlprî(ènmîikoi(sj(r(vljh(òmp(rnï(jhlkinh(mò(
Ynoîsjó(òmp(Rñigsrî(^lpñmjij(¨ijñigsrîîï(aljsnijj(YnoîsjóJ
çå§

VdY(ZQW[\Q[Y(Sb(^SZUVUTQZ(TS``YTVWYRR(UW(a\RUWYRR(YW[ZURd
blphóipvmpiP(ñmsnh(mò(usi(piîrhsushï(sj(ginhprî(hm(hói(RrñspL©ómpò(dïñmhóL
ijsj(rnk(hm(hósj(ksjgljjsmn(sn(iúlrî(virjlpiJ(Vói(îsnolsjhsg(piîrhsushï(ñpsngsñîi(
vrsnhrsnj(hórh(hói(glîhlprî(gmngiñhj(snóipinh(sn(ksòòipinh(îrnolroij(sn¿lingi(hói(
gmonshsui(gîrjjsûgrhsmn(mò(hói(iñipsingik(mpîkP(ósgó(vrèij(jñirèipj(mò(ksòL
òipinh(îrnolroij(hósnè(ksòòipinhîï(wigrlji(mò(shJ(Vói(skir(hórh(îsnolsjhsg(iòòighj(
ròòigh(ólvrn(gmonshsmn(rññirpik(sn(irpîï(`mvrnhsgsjvP(wlh(òiîî(mlh(mò(òrumlp(sn(
hói( KIãMj( rj( Wmrv( Tómvjèïfj( ñpiurîinh( ñrprksov( sn( îsnolsjhsgj( lnkipjgmpik(
hói(lnsuipjrî(nrhlpi(mò(ólvrn(îrnolroi(rnk(gmonshsmnJ(dmiuipP(hói(óirkrï(sn(
gmonshsui(rnk(jmgsrî(îsnolsjhsgj(wpmloóh(rwmlh(r(piusurî(mò(îsnolsjhsg(piîrhsushï(sn(
hói(KIäMjP(wrjik(mn(hói(jmgsrî(lji(mò(îrnolroiJ ( Tlppinhîï(vrnï(îsnolsjhj(inkmpji(
hói(RrñspL©ómpò(óïñmhóijsjP(rkvshhsno(hórh(îrnolroi(sn¿lingij(giphrsn(èsnkj(mò(
gmonshsui(ñpmgijjijJ(bmp(irvñîiP([impoi(Zrèmòòfj(¨KIäâ(©ómpûrn(rññpmrgó(
ómîkj(hórh(îrnolroi(sj(mòhin(ljik(vihrñómpsgrîîï(rnk(hórh(ksòòipinh(îrnolroij(lji(
ksjjsvsîrp(glîhlprî(vihrñómpj(ósgó(piuirî(óm(jñirèipj(mò(hórh(îrnolroi(hósnèJ(
QîjmP(vihrñómp(ñîrïj(rn(svñmphrnh(ñrph(sn(ñmîshsgrî(gmppighnijj(kiwrhijP(óipi(
îsnolsjhsg( piîrhsushï( sj( vrnsòijhP( kiñinksno( mn( óihóip( mni( sj( rpolsno( òmp( ¥hói(
psoóh(hm(îsòiø(mp(sn(òrumlp(mò(hói(¥psoóh(hm(gómmjiøP(òmp(snjhrngiJ
lOuO')tA'A@ztAEJDE'GKAoHEJBB
Vói(ivñîmïvinh(mò(ilñóivsjvj(sj(r(ginhprî(rjñigh(mò(hói(ñprovrhsg(rññîsgrL
hsmn(mò(ñmîshsgrî(gmppighnijjJ(Ylñóivsjvj(òlnghsmn(wï(jlwjhshlhsno(rn(mòòinjsuiP(
lnjiivîïP(mp(lnñîirjrnh(iñpijjsmn(shó(r(vmpi(mññmphlni(mniJ(Un(hói(grji(mò(
¥kmlwîijñirèø(mp(îrnolroi(kijsonik(hm(ksjolsji(shj(rghlrî(virnsnoP(hóiji(jlwL
jhshlhij(rpi(snhinkik(hm(rîîiusrhi(hói(wlpkin(rn(lhhiprngi(vrï(grppïJ(bmp(snjhrngiP(
¥kmnjssnoø(vrï(piòip(hm(hói(ûpsno(mò(r(nlvwip(mò(ivñîmïiijJ(alpirlgprgsij(
rnk(gmpñmprhsmnj(òpiúlinhîï(oiniprhi(ilñóivsjvj(hm(vrèi(ksjropiirwîi(nmhsmnj(
jiiv(nilhprî(mp(snnmglmljJ(ôsîshrpï(mpornsrhsmnj(ósgó(èsîî(ñimñîi(kiîswiprhiîï(
mp(wï(vsjhrèi(piòip(hm(hóiji(rghsmnj(rj(:@GAC9k9:;)>J@)>AG;@>(rnk(bFCCA>@GAC)HAP­
A;@J( Ylñóivsjvj( vrï( rîjm( wi( òrwpsgrhik( mlh( mò( ñlpi( ñplkipï( ¨iJoJ( fA>JGFFPP(
G@=>GFFPP(mp(_c(òmp(¥hmsîihøJ
bpmv(r(îsnolsjhsg(ñmsnh(mò(usiP(^T(îrnolroi(òlnghsmnj(sn(hói(jrvi(rï(rj(ilñóiL
vsjvj(mp(kmlwîijñirèJ(amhó(vrèi(lji(mò(ñipsñóprjsj(mp(gspglvîmglhsmnP(hórh(sj(hm(
jñirè(rpmlnk(r(osuin(mpkP(hm(svñîï(sh(shómlh(jrïsno(shJ(Qj(ilñóivsjvj(wigmvi(
vmpi(rpgrniP(hóiï(grn(lnkipglh(rññpmñpsrhi(rhhshlkij(hmrpkj(jipsmlj(sjjlijP(ijL
ñigsrîîï(viksgrî(gmnkshsmnjJ(Rlgó(rj(ilñóivsjvjP(^T(hipvj(vrï(wi(mò(jiuiprî(
hïñij{(snkspighsmnj(¨f@J9:HP(9F:AfC@=P(BG9QA>@=P(;F)>F)>J@)fA>JGFFPP(=C@@B)
>F;@>J@GP( îshmhij( mp( lnkipjhrhivinh( ¨:F>) @ñAb>Ce) >J9:( òmp( ¥òrhøP( :F>) bFPBC@>@Ce)
>GJi

“C9:ArT:HG@@A)^GA;F@=b<
mò(Virgóipj(sn(hói(\ü(gmnjskipik(r(ñpmñmjrî(hm(piñîrgi(rnï(vinhsmn(mò(òrsîlpi(
shó(hói(iñpijjsmn(H@i@GG@H)=F)>J@)
F>J@G)=9H@(rj(r(îmnoLrwljik(ilñóivsjv(òmp(kirhóP(hói(^T(urpsrnh(ósgó(nm(
piñîrgij(jlgó(kirk(vihrñómpj(sj(:@;A>9Q@)BA>9@:>)bAG@)FbFP@J(Ylñóivsjvj(mgL
glppsno(sn(ìmw(hshîij(rpi(rnmhóip(grji(mò(ñmîshsgrî(gmppighnijj(rvwsolshïJ(Rmvi(ìmwj(
órui(rgúlspik(snhpsgrhi(hshîij(hm(jmlnk(vmpi(ksonsûik(mp(vmpi(svñpijjsui(hórn(hói(
gmvvmn(nrvij(mlîk(svñîï(¨iJoJ(AHP9:9=>GA>9Q@)A==9=>A:>(òmp(¥jigpihrpïøP(cOT)
òmp(¥grp(ñrpèsno(rhhinkrnhøP(GFH@:>)Fi{b@G(òmp(¥prhLgrhgóipøP(b@P@>@Ge)FB@GA>9Q@(
òmp(¥opruiksooipøP(>GA:=BAG@:>rgACC)PA9:>@:A:b@)Fi{b@G(òmp(¥snkm(gîirnipøJ(
ôrnï(^T(irvñîij(sngîlki(mpkj(jlgó(rj(¥inosniipøP(hómloó(hóiï(km(nmh(piòip(hm(
ñipjmnj(rggpikshik(sn(inosniipsno(¨iJoJ(=A:9>A>9F:)@:;9:@@G(òmp(¥ìrnshmpøJ
Vói(vrìmp(sngmnjsjhingï(ósgó(lnkipîsij(hói(jlwjhshlhsmn(mò(giphrsn(mpkj(
wï(ilñóivsjvj(sj(hórh(hipvj(gómjin(rj(vmpi(rggiñhrwîi(wigmviP(sn(hóisp(hlpnP(
pigmonsik(rj(ijhrwîsjóikJ(Vóiï(hóin(hlpn(snhm(kiurîlik(hipvj(hm(urpïsno(kiopiijP(
rj(hóiï(ñrjj(snhm(ljroi(wï(prgsjhjP(jisjhjP(ihgJ(VóljP(rnmhóip(jih(mò(mpkj(vljh(
wi(gmsnikP(osusno(psji(hm(îinohóï(jipsij(jlgó(rj(hói(Ä@;GF(8(cFCF

VdY(ZQW[\Q[Y(Sb(^SZUVUTQZ(TS``YTVWYRR(UW(a\RUWYRR(YW[ZURd
sno(îrpoiîï(hópmloómlh(©ijhipn(jmgsihïP(jhpsgh(rkóipingi(hm(ñpijgpsñhsui(îrnolroi(
plîij(sj(inòmpgik(ijñigsrîîï(sn(hói(\nshik(RhrhijJ(Uh(sj(óipi(hórh(^T(órj(wigmvi(jm(
jipsmlj(r(vrhhip(hórh(hómji(óm(òrsî(hm(lji(ñpijlvñhlmlj(mpkj(psjè(wisno(îrwiîik(
prgsjhP(jisjhP(ihgJ(rnk(gmnjiúlinhîï(psjè(îmjsno(hóisp(ìmw(rnk(piñlhrhsmn(mp(iuin(
wisno(jlwìigh(hm(ìlksgsrî(ñinrîhïJ(Rlgó(ihpivshï(mò(pirghsmn(ñmjij(jipsmlj(hópirhj(
rj(hm(hói(pijhpsghsmn(mò(òpii(iñpijjsmnJ(
VóljP(r(òmpivmjh(rjñigh(mò(hói(^T(gmnhpmuipjï(sj(hói(gmnjiúlingij(sh(hpsooipj(
lñmn(hói(ñlwîsg(viksr(rnk(iklgrhsmnJ(Vói(^T(gpsjsj(órj(gmvñîihiîï(hrèin(muip(
Qvipsgrn(ñlwîsg(snjhshlhsmnj(rnk(hói(viksrP(ósgó(sj(hói(òmplv(òmp(^T(gpljrkipjP(
îrnolroi(óïosinsjhj(rnk(rhgókmojJ(Ykshmpj(rnk(rgrkivsgj(órui(sjjlik(nlvipL
mlj(kspighsuij(gmngipnsno(ñmîshsgrîîï(gmppigh(îrnolroiJ(Vói(rkumgrhij(mò(^T(hipL
vsnmîmoï(ivwprgi(hói(grnmnsgrî(jih(mò(pijhpsghsmnj(inòmpgik(wï(hói(gmnjipurhsuij(
lñmn(hói(\R(iklgrhsmn(glppsglîlvJ(Rñiigó(gmkij(sn(\R(lnsuipjshsij(rnk(grvL
ñljij(rpi(kspighik(rorsnjh(òpii(jñiigó(wï(lposno(hói(lji(mò(rggiñhrwîi(jhrnkrpkj(mò(
îrnolroiJ(bpmv(hósj(jhrnkñmsnhP(gmnjipurhsuij(rpn(hórh(hói(îswiprî(lnkipvsnsno(
mò(ksjgsñîsni(rnk(jhrnkrpkj(mlîk(wpsno(rwmlh(hói(kmnòrîî(mò(©ijhipn(glîhlpi(
¨aîmmvP(KIäâJ(^T(sj(rîjm(snumèik(wï(hói(rkumgrhij(mò(r(vmpi(ñîlprîsjhsgP(vlîhsL
glîhlprîP(prgiLP(oinkipLP(rnk(gîrjjLjinjshsui(glppsglîlvJ(Vói(ómîi(ñóinmvinmn(
sn(rîî(shj(òmpvj(sj(jiivsnoîï(opmlnkik(sn(hói(piginh(pigmuipï(mò(vmprî(gmnjgsmljL
nijjJ(Vói(ni(vmprî(gmki(rññirpj(îlksgpmljîï(irooiprhik(sn(hói(ñlwîsg(viksrP(
sn(hói(gmlphj(mò(îrP(rnk(iîjióipi(ñipurjsuiîïJ(
Sn(hói(mhóip(órnkP(hói(mññmninhj(mò(^T(órui(piòippik(hm(hósj(ni(jñiigó(gmki(
rj(hmhrîshrpsrn(wigrlji(sh(inòmpgij(snúlsjshsmnLîsèi(ñprghsgijJ(aipnjhisn(snksgrhij(
hórh(hói(jïvñhmvj(mò(^T(wihmèin(jiîòLginjmpjósñP(gmnòmpvsjv(rnk(ósîrpsmlj(gîsL
gótj(¨KII§{çMILçKKJ(blphóipvmpiP(arlvrn(kijgpswij(^T(rj(¥r(ni(òlnkrvinL
hrîsjvøP(îsèinsno(sh(hm(òrjgsjvP(kijñshi(shj(winiumîinh(iòòmphj(rorsnjh(prgsrî(gîrjóij(
sn(Qvipsgrn(lnsuipjshsij(¨KIIç{KâLKIJ(Vói(irîmlj(inòmpgivinh(mò(jñiigó(gmkij(
prsjij(svñmphrnh(ihósgrî(úlijhsmnj(rj(hm(óihóip(hói(órpvòlî(ñmip(mò(mpkj(ìljhsL
ûij(hói(pijhpsghsmn(mò(hói(iîîLwiîmuik(òpiikmv(mò(jñiigóJ(Qîmno(shó(vrnï(mhóip(
górpoijP(^T(órj(wiin(gpshsgsik(òmp(pinkipsno(giphrsn(hipvj(lnrggiñhrwîiP(ósgó(
inòmpgij( snóipinh( jiîòLginjmpjósñJ(Vói( igijjsui( kiòipingi( hm( ñrphsglîrp( jinjsL
wsîshsij(sj(kiivik(nmh(mnîï(r(vrhhip(mò(muipjinjshsushïP(wlh(rîjm(r(jhrngi(mò(muipL
gmppighnijj( mòhin( olsîhï( mò( svñpmñpsihïJ( Shóip( gpshsgj( kinmlngi( hói( ^T( rjjrlîh(
lñmn(îrnolroi(shivjP(ósgó(lîhsvrhiîï(îirkj(hm(hói(ksjhmphsmn(mò(pirîshïJ(Qjrnhi(
¨KIIH(kijgpswij(ñmîshsgrî(gmppighnijj(rj(r(óïñipwmîiP(kiivsno(hórh(sh(sj(r(gmlnhipL
mòòinjsui(ósgó(gmvij(rj(r(nrhlprî(pijñmnji(hm(hói(iñrnjsmn(mò(ksrîmoli(hmrpkj(
¥mhóipjøJ(©ósîi( hói( pirî( hópljh( mò( ^T( pivrsnj( mwjglpiP( r( vmpi( jlwhîi( glîhlprî(
gîrjó(jiivj(hm(wi(rh(jhrèi(8(hórh(wihiin(gmvñihsno(rññpmrgóij(hm(pirîshïJ(Rsngi(
hói(pirîshï(mò(jmgsrî(ñóinmvinr(sj(gpirhik(hópmloó(îsnolsjhsg(rghjP(pirîshï(shjiîò(sj(
çåâ

“C9:ArT:HG@@A)^GA;F@=b<
kiûnik(sn(hipvj(mò(r(¥îsnolsjhsg(órwshø(¨TómsP(KIIH{§J(bmp(hórh(pirjmnP(hói(svñmph(
mò(hói(vrhhip(vljh(nmh(wi(kmnñîrïikJ
blphóipvmpiP(hói(îsnolsjhsg(ñpmwîiv(mò(nrvsno(sn(r(jmgsrî(gmnhih(sj(wrjik(lñmn(
hói( RrñspL©ómpò( óïñmhóijsj( hórh( îsnolsjhsg( grhiompsij( sn( r( îrnolroi( jórñi( hói(
jñirèipfj(skirj(rnk(wiórusmlpJ(Tmonshsui(îsnolsjhj(snksgrhi(hórh(mpkLgómsgi(órj(
jsonsûgrnh(òprvsno(iòòighj(mn(hói(ñipgiñhsmnj(mò(jñirèipj(rnk(îsjhinipjP(hólj(mpk(
gómsgi(wisno(lhhipîï(piîiurnh(¨dlhhmnP(HMMKJ(bpmv(r(îsnolsjhsg(ñmsnh(mò(usiP(ñpiL
jgpsñhsmn(piòipj(hm(hói(inòmpgivinh(mò(jhrnkrpkj(piorpksno(óm(r(îrnolroi(mloóh(
hm(wi(ljikP(òpmv(jñiîîsnoP(oprvvrpP(mp(jïnhr(hm(plîij(òmp(órh(sj(kiivik(jmgsrîîï(
ñpmñip(mp(ñmîshsgrîîï(gmppighJ(Qj(mññmjik(hm(kijgpsñhsmnP(sh(sngîlkij(urîli(ìlkoL
vinhj(rnk(pigmvvinkrhsmnj(òmp(ñpiòippik(îrnolroi(ljroiP(ósgó(sj(gmnjskipik(
¨snrññpmñpsrhi(sn(ñrphsglîrp(gmnhihjJ(Uh(vrï(wi(vmhsurhik(wï(r(kijspi(hm(rumsk(
mòòinjsui(mp(hmm(jñigsûg(îrnolroiP(rj(iîî(rj(giphrsn(mpkj(ósgó(jhrnk(òmp(wsrjik(
ñipjñighsuijJ(Rlgó(sj(hói(gmnkivnrhsmn(mò(vrjglîsni(ñipjmnrî(ñpmnmlnj(jhrnksno(
òmp(hói(lnsuipjrî(mp(¥nilhprîø(oinkipJ(Sni(mò(hói(nlvipmlj(ñpmwîivj(shó(ñpiL
jgpsñhsui(îsnolsjhsgj(sj(hói(ksòûglîhï(mò(kiûnsno(hói(îioshsvrhi(gpshipsr(òmp(inòmpgL
sno(shJ(Vóiji(gpshipsr(rpi(mòhin(kiivik(kmovrhsg(mp(rpwshprpï(òmp(mhóipj(gmnjskipL
sno(rn(sjjli(òpmv(ksòòipinh(ñmsnhj(mò(usiJ(Zrnolroi(ñpmóswshsmn(sn(grjij(mò(jlwhîi(
ksjhsnghsmnj(mp(jlwìighsui(rjjmgsrhsmnj(mò(giphrsn(mpk(sj(hóipiòmpi(lnhinrwîiJ
çåä
mOmO'1BB@DGKoGJFpD'vKFE'o'pAM'-pxBJDt'BAsJqFp
^mîshsgrî(gmppighnijj(svñîsij(hói(rîhiprhsmn(mò(mnifj(gómsgi(mò(mpkj(sn(mpkip(
hm(rumsk(mòòinksno(mhóipj(mp(piñîrgsno(r(jhipimhïñi(gmnjskipik(hm(wi(ksjgpsvsnrL
hmpïJ(Vósj(sj(kmni(ñpigsjiîï(wï(wpsnosno(òmphó(r(jipsij(mò(ni(mpkj(ósgó(wigmvi(
ñmhinhsrî(jhipimhïñijJ(Uh(sj(kmlwhòlî(hórh(ñmîshsgrî(gmppighnijj(sj(¥gmppighø(ósîi(
inorosno(sn(lnkipjhrhivinh(rnk(lîhsvrhiîï(osusno(rï(hm(spmnïJ(Vói(òrgh(hórh(^T(
sj(mòhin(kipskik(sn(spmnsg(hipvj(sj(òlphóip(jlññmphsno(iuskingi(mò(shj(òrsîlpi(hm(wi(
gmppighJ(Rsngi(ñmîshsgrîîï(gmppigh(ilñóivsjvj(ósgó(órui(piñîrgik(giphrsn(mpkj(
órui(hlpnik(snhm(rwjmîlhi(gmnuinhsmnjP(hóiï(snjhrnhîï(rhhrgó(hói(jrvi(svñîsgrhlpij(
rj(hói(snshsrî(mpk(hm(hói(niîï(gmngmghik(ilñóivsjvJ(VóljP(hói(ómîi(îsnolsjhsg(
ñpmopijjsmn(gmnhsnlij(hm(oiniprhi(sngmnjsjhingïP(kli(hm(hói(jlwjhshlhsui(gmnhiL
hlrî(svñîsgrhsmnjJ(Vói(muipîrññsno(mò(piòipingi(oiniprhij(igijjsui(rvwsolshï(
rnk(òrsîj(hm(rwski(wï(hói(ñpsngsñîi(mò(piîiurngiJ(
Sni(òrumlpshi(irvñîi(ñmsnhsno(hm(hósj(jlwjhshlhsui(ñrprkm(sj(hói(òmîîmsno(
ñpmopijjsmn(mò(hipvj{(¥niopmø(rnk(¥gmîmlpikø(ipi(gmnjskipik(rggiñhrwîi(hipvj(
sn(hói(gmîmnsrî(ñipsmkP(wlh(hóiï(ñrjjik(mlh(mò(òrumlp(wï(rjjmgsrhsmn(shó(hói(ósjL
hmpsgrî(gmnhih(óin(hóiï(ipi(ljikJ(Xlpsno(hói(KIâMjP(hóiï(wigrvi(mòòinjsui(
rnk(ipi(hóipiòmpi(piñîrgik(wï(¥wîrgèø(rnkP(îrhipP(¥QòpmLQvipsgrnøJ(RmmnP(hói(

VdY(ZQW[\Q[Y(Sb(^SZUVUTQZ(TS``YTVWYRR(UW(a\RUWYRR(YW[ZURd
svñpmuik(uipjsmn(¥QòpsgrnLQvipsgrnø(grvi(snhm(ljiP(svñîïsno(hói(rngijhpï(mò(
hósj(ñimñîiJ(bsnrîîïP(¥ñimñîi(mò(gmîmlpø(sj(ñipòighîï(rggiñhrwîi(sn(wpmrkip(ljroiP(
ósîi(¥gmîmlpik(ñimñîiø(sj(kiivik(rwjmîlhiîï(lnrggiñhrwîiJ(Vói(îrhhip(sj(gmnL
jskipik(mòòinjsui(kli(hm(hói(mpkip(mò(mpkjP(ósgó(ivñórjsij(hóisp(ksòòipingi(
òpmv(mhóip(ñimñîi(wï(ñlhhsno(hói(rkìighsui(sn(òpmnh(mò(hói(nmlnj(¨rj(sh(sj(oiniprîîï(
gmppigh(sn(Ynoîsjó(oprvvrpJ
©órh(sj(vmpiP(Vói([îmwrî(Zrnolroi(ômnshmp(ljij(rn(rîompshóv(8(hói(^piksgL
hsui(]lrnhshsij(Unksgrhmp(¨^]U(8(hm(hprgè(hói(òpiúlingï(mò(mpkj(rnk(ñóprjij(sn(
hói(oîmwrî(viksrJ(Vói(lji(mò(giphrsn(mpkj(sj(vmnshmpik(rnk(piwlòòikP(iuin(shósn(
gmvñîihiîï(ksòòipinh(gmnhihjJ(Vói(mpk(¥wîrgèø(sj(mni(mò(hói(mpkj(ósgó(órui(
wigmvi(igiñhsmnrîîï(górpoik(rnk(¥sngmppighø(sn(mhóip(gmnhihj(rj(iîîP(kiñinkL
sno(lñmn(mnifj(ñmsnh(mò(usiJ(Zrnolroi(wrnj(órui(omni(jm(òrp(rj(hm(rññîï(hm(hipvj(
îsèi(¥wîrgè(gmòòiiø(¨^T(¥gmòòii(shómlh(vsîèøP(¥wîmgèîsjhsnoø(snjhirk(mò(¥wîrgèL
îsjhsnoø(muip(òirpj(hórh(sh(sj(mòòinjsuiP(¥wîrgèwmrpkø(¨jómlîk(sh(wi(¥óshiwmrpkø¬P(
mp(¥wîrgè(jóiiñø(sn(r(òrvmlj(nlpjipï(póïviJ(Qnmhóip(grji(sn(ñmsnh(sj(hói(górnoL
sno(hipvsnmîmoï(ljik(hm(kijgpswi(órnksgrññik(ñimñîiJ(Un(hói(ñrjhP(hói(hipv(¥gpsñL
ñîikø(rj(kiivik(rggiñhrwîi(wiòmpi(sh(rj(ñpmgîrsvik(kioprksno(rnk(górnoik(
hm( ¥órnksgrññikøJ( Vói( îrhhip( rj( iuinhlrîîï( kiivik( mòòinjsui( sn( shj( hlpn( rnk(
jrññik(ñîrgij(shó(hói(vmpi(kigmpmlj(mpk(¥ksjrwîikøJ(Qh(ñpijinhP(¥ksjrwîikø(
shjiîò(órj(omni(mlh(mò(òrumlp(rnk(¥ksòòipinhîï(rwîikø(mp(¥ñóïjsgrîîï(górîîinoikø(
órui(wigmvi(hói(^T(ñpiòippik(hipvjJ(
^mîshsgrî(gmppighnijj(grn(iuin(ròòigh(hipvsnmîmoï(ósgó(sj(usiik(wï(jiglîrpL
sjhj(rj(hmm(¥ñpmLpiîsosmnø(mp(muip(snhipñpihik(rj(r(usmîrhsmn(mò(hói(jiñrprhsmn(mò(
gólpgó(rnk(jhrhi(ñpsngsñîi(sn(hói(\nshik(RhrhijJ(eljh(mni(irvñîi(mò(hósj(snjhrngi(
sj(hói(rghsui(ñpmvmhsmn(mò(hói(lji(mò(TJYJ(rnk(aJTJYJ(rj(hói(rwwpiusrhsmnj(ljik(
ròhip(krhij(¨snjhirk(mò(hói(gmvvmnîï(rnk(hprkshsmnrîîï(ljik(QJXJ(rnk(aJTJJ(Yuin(
hói(vinhsmn(mò(hói(hipv(¥Tópsjhvrjø(órj(kigîsnik(kli(hm(shj(Tópsjhsrn(gmnnmhrL
hsmnJ([suin(hói(piîsosmlj(¥viîhsno(ñmhø(mò(Qvipsgrn(jmgsihïP(sh(órk(hm(wi(piñîrgik(
shó( r( nmnjñigsûg( ¥snhip( ómîskrïøJ( ZsèisjiP( r( ni( uipjsmn( mò( hói( aswîi( sn(
Qvipsgrn(Ynoîsjó(¨[J@)U9fC@)9:)A)oFG@)ä)8A:;

“C9:ArT:HG@@A)^GA;F@=b<
hrèi(mòòingi(rh(wisno(grîîik(¥wmusni(gmnhpmî(mòûgipjøæ(r(kirò(ñipjmn(sj(vipiîï(
¥usjlrîîï(mpsinhikø(mp(¥óirpsno(svñrspikøæ(r(kplo(rkksgh(sj(gmppighîï(îrwiîîik(rj(
¥góivsgrîîï(górîîinoikø(rnk(r(kplnè(mp(iuin(ìlnèsi(hlpnj(mlh(hm(wi(¥sn(pigmuipïøæ(
r(òrh(ñipjmn(sj(¥oprushrhsmnrîîï(górîîinoikøP(¥ómpsmnhrîîï(górîîinoikøP(mp(iuin(
wihhip(¥ómpsmnhrîîï(osòhikøæ(r(ûpivrn(sj(nm(r(¥ûpiñipjmnø(mp(¥ûpiûoóhipøæ(hói(
orpwroi(vrn(órj(rgúlspik(hói(iîiurhsno(ksjhsnghsmn(mò(r(¥jrnshrhsmn(inosniipæ(r(orj(
jhrhsmn(rhhinkrnh(sj(nm(r(¥ñihpmîilv(hprnjòip(higónsgsrnøæ(hói(oóihhm(sj(gmnjskL
ipik(rn(¥ihónsgrîîï(ómvmoinmlj(rpirøæ(hói(órnksgrññik(rpi(¥ksòòipinhîï(rwîikø(mp(
¥ñóïjsgrîîï(górîîinoikøæ(Vói(ósoóîï(ñpmwîivrhsg(¥ósv(£(óipø(8(ósgó(ljik(hm(wi(
gmnjskipik(hói(^T(uipjsmn(mò(hói(jlññmjikîï(nilhprî(¥ósvø(8(órui(piginhîï(wiin(
jsnoîik(mlh(rj(hói(oinkip(nilhprî(¥óspøæ((ómviîijj(ñimñîi(rpi(jsvñîï(¥mlhkmmp(
lpwrn(kiîîipjøæ(r(ómljisòi(hlpnj(snhm(r(¥kmvijhsg(inosniipø(mp(¥inuspmnvinhrî(
óïosinsjhøæ(rn(svvsoprnh(sj(ñmîshiîï(piòippik(hm(rj(¥rn(rîsinø(mp(¥nigmvipøæ(rn(
Unksrn(sj(vmpi(gmppighîï(r(¥Wrhsui(QvipsgrnøP(hómloó(jlgó(ni(skinhshsij(órui(
wiin(kiuiîmñik(wï(rgrkivsgj(prhóip(hórn(wï(hói(mnij(snumîuikæ(r(ìrnshmp(sj(vmpi(
pijmnrnhîï(r(¥gljhmksrnø(mp(r(¥jrnshrhsmn(inosniipøæ(hói(mpk(¥vrnèsnkø(órj(îrL
òlîîï(wiin(piñîrgik(wï(¥ólvrnèsnkø(hórnèj(hm(òivsnsjh(rghsusjvæ(r(vskoihP(krpòP(
mp(r(jómph(ñipjmn(jómlîk(wi(gmppighîï(piòippik(hm(rj(¥uiphsgrîîï(górîîinoikøæ(r(vlhi(
wigmvij(¥uipwrîîï(górîîinoikøæ(rn(mîk(ñipjmn(mp(hói(iîkipîï(rpi(¥gópmnmîmosgrîîï(
osòhikøP(¥oipmnhmîmosgrîîï(rkurngikø(mp(¥jinsmp(gshsinjøæ(r(ñmîsgivrn(mloóh(hm(
wi(grîîik(r(¥ñmîsgi(mòûgipø(mp(r(¥îr(inòmpgivinh(mòûgipøæ(hói(ñmmp(rpi(¥vmnihrpL
sîï(górîîinoikøæ(r(ñmjhvrn(sj(r(¥îihhip(grppsipø(sò(i(rpi(hm(wi(ñmîshsgrîîï(gmppighæ(
r(piknigè(sj(r(¥ñipjmn(mò(piosmnøæ(piòloiij(rpi(¥rjïîlv(jiièipjøæ(r(jhirpkijj(
wigmvij(vmpi(nilhprîîï(r(¥¿soóh(rhhinkrnhøæ(r(hpiiLólooip(sj(rn(¥inuspmnvinhrî(
rghsusjhøæ(pirgósno(lîhsvrhi(îlksgpmljnijjP(hói(hipv(¥mvïnø(órj(wiin(rkurngik(
òmp(¥mvinø(sn(mpkip(hm(ksjhrngi(hói(mpk(òpmv(hói(krlnhsno(¥vrnøJ((
Un(gmngîljsmnP(îisgmoprñóipj(mwusmljîï(niik(hm(rkkpijj(rnk(pigmnjskip(r(ómjh(
mò(ksghsmnrpï(inhpsijP(jsngi(hói(vrjjsui(jósòh(mò(glîhlprî(rnk(îsnolsjhsg(ñrprksov(
piúlspij(shJ(dmiuipP(òi(hipvj(òpmv(hói(^T(îisgmn(rpi(ñîrljswîi(rnk(ìljhsûrwîi(
òpmv(r(ñprovrhsg(rnk(glîhlprî(ñmsnh(mò(usiJ(Rmvi(hinrwîi(irvñîij(mlîk(wi(
¥górspñipjmnø(rnk(¥ólvrnèsnkøP(rj(mvin(grn(nishóip(wi(grîîik(¥górspvinøP(nmp(
km(hóiï(òiiî(sngîlkik(sn(hói(grhiompï(kijsonrhik(wï(hói(mpk(¥vrnèsnkøJ(Vói(mhóL
ipjP(rîwish(kiumhik(hm(rîîiusrhsno(r(prnoi(mò(ksjrwsîshsij(rnk(órpkjósñjP(rpi(rkìrginh(
hm(rwipprhsmn(òmp(hói(ñprovrhsg(pirjmnj(ñpijinhik(rwmuiJ([suin(hói(rjjmgsrhsmn(
shó(ginjmpjósñP(hói(spmnsgrî(gmnnmhrhsmnj(mò(hói(ñóprji(¥ñmîshsgrî(gmppighnijjø(
órui(wigmvi(sngpirjsnoîï(skijñpirkP(sn(gpshsgsjv(mò(kmovrhsg(rhhshlkijJ(^T(nm(
grppsij(r(ñiìmprhsui(jinji(vmpi(mòhin(hórn(nmhP(rj(sh(sj(wigmvsno(iuip(vmpi(gmnL
hpmuipjsrîJ(
çãM

VdY(ZQW[\Q[Y(Sb(^SZUVUTQZ(TS``YTVWYRR(UW(a\RUWYRR(YW[ZURd
3-L-3-XY-/
AjrnhiP(ômîiû(üihi(¨KIIHJ(¥Vói(Yjgrñi(snhm(dïñipwmîiø(sn)äFu)^@fA>9:;)
TP@G9bAI=)cA:HAGH=J(alòòrîmP(W†{(^pmvihóilj(ammèjJ
aipnjhisnP(`sgórpkJ(¨KII§J([J@)^9b>A>FG=J9B)Fi)V9G>J@)TP@G9bA:)o9:HJ(Wi(†mpè{(Rsvmn(rnk(RgóljL
hipJ
apmnP(^JP(rnk(ZiusnjmnP(RJ(TJ(¨KIäâJ(OFC9>@:@==Ç)aFP@)¥:9Q@G=AC=)9:)8A:;9b=)A:H)OJ9CF=FBJe)Fi)OFC9>9bAC)cFG­
G@b>:@==J(Zmnkmn{(^prioip(^lwîsjóipjJ
dlhhmnP(©J(¥©mpkj(`irîîï(Qpi(UvñmphrnhP(ôp(aîlnèihhøP(Vói(SwjipuipP(Rlnkrï(Kã(XiL
givwip(HMMKJ
ZrèmòòP([impoiJ(¨KIäâJ(_FP@:l)v9G@)A:H)^A:;@GF)bA>@;FG9@=)h@Q@AC)
AfF)>J@)o9:HJ(Tósgrom{(\nsuipjshï(mò(Tósgrom(^pijjJ
ZiigóP([imòòpiïJ(¨KIäçJ(OG9:b9BC@=)Fi)OGA;PA>9b=J(Zmnkmn{(ZmnovrnJ(
VómvrjP(einnïJ(¨KIIåJ(o@A:9:;)9:)`:>@GAb>9F:Ç)T:)`:>GFH9F:)>F)OGA;PA>9b=J(Zmnkmn{(
ZmnovrnJ
[J@) jCFfAC) 8A:;FGJ( HMMIJ( ªSnîsni{( óhhñ{££JîrnolroivmnshmpJgmv£ñmîsL
hsgj£ñmîshsgrîîï gmppighJ
7B;H7.7H:8==7#:87`D=KOF
ZUôaQe\Z(TS`YTVUV\XUWUU(^SZUVTY(&W(YW[ZYõQ(QbQTY`UZS`
h@k
^i(îrnoƒ(rglvlîrpir(rîhmp(gmvñihini(îsnousjhsgiP(gis(gi(›nurƒ(îsvwr(inoîiƒ(ñinhpl(jgmL
ñlps(jñigsûgi(¨YR^(rp(hpiwls(jƒ(sr(glnmhsnƒ(ki(isjhinr(lnls(nml(jih(ki(hipvins(s(nmpL
vi(ki(gmvlnsgrpiJ(ôrs(irghP(niglnmrhipir(nmsîmp(pirîshƒs(rîi(gmpighshlksnss(ñmîshsgiø(
¨rwpiusrh(^T(ñmrhi(gmnklgi(îr(gmvshipir(lnmp(oprui(oròi(›n(gmvlnsgrpir(snhipglîhlprîƒJ(
&njƒ(kinrhlprpir(s(gmvñîsgrssîi(irgipwrhi(rîi(òmpvlîƒpsîmp(ki(hsñ(^T(ñmh(û(gmnjskiprhi(
snirghi(sP(›nhpLln(rnlvsh(jinjP(gósrp(sngmpighiP(giî(ñlsn(ksn(ñlngh(ki(uikipi(îsnousjhsgJ(
^mpnsnk(ki(îr(rgirjhƒ(sñmhiƒ(ki(îlgplP(îlgprpir(ñpmñlni(m(rwmpkrpi(ñprovrhsgƒ(r(gmpigL
hshlksnss(ñmîshsgiJ(\pvirƒ(vrs(rñms(m(gipgihrpi(îsnousjhsgƒ(ñpsusnk(rjñighi(piòipshmrpi(îr(
svñîsgrsi(ñprovrhsgƒP(rvwsolshrhi(s(ilòivsjv(jrl(ñrprkm(jlwjhshlhsu(hsñsgi(gmpighshlL
ksnss(ñmîshsgiJ(ôihròmpr(ìmrgƒP(ki(rjivinirP(ln(pmî(svñmphrnh(›n(kiwrhipsîi(^TP(›n(grpi(
ñpikmvsnƒ(›n(vmk(uƒksh(piîrhsusjvlî(îsnousjhsgJ(Qgirjhƒ(jljsnipi(himpihsgƒ(ijhi(sîljhprhƒ(
ñpsnhpLln(jiîigsi(ki(iñpijss(hsñsgi(^T(gi(rñrpsn(nmlîls(îisgmn(îr(vmkƒJ(Xi(iivñîlP(ilL
òivsjviîi(grpi(rñrp(›n(kinlvspsîi(ksòipshiîmp(ñpmòijss(jlnh(ñpsnhpi(giîi(vrs(llrîi(grlps(
çãK

“C9:ArT:HG@@A)^GA;F@=b<
ki(rvwsolshrhi(ñmîshsg(gmpighƒJ(\niîi(îmglps(ki(vlngƒ(jlnh(vrjgrhi(jlw(hshlîrhlps(gmvL
ñîsgrhi(ñinhpl(r(ruir(m(pimnrnƒ(vrs(pijñighrwsîƒ(jrl(ñinhpl(r(ñƒpir(vrs(svñpijsmnrnhi(
kigh( rp( hpƒkr( kinlvspsîi( gmvlni( ¨iJoJP( jigpihrplî( kiusni( rjsjhinh( rkvsnsjhprhsuø( jrl(
rjsjhinh(vrnroipøP(mûipss(gmnhpr(pmƒhmrpiîmpø(ji(mglñƒ(ki(òrñh(gl(kiprhsrpir(ñinhpl(
mwmîrnsP(srp(snssrîiîi(gl(pmî(ilòivsjhsg(jlnh(òmîmjshi(›n(îmglî(lnmp(iñpijss(ñpiglv(jlñprL
uioóihmp(ñrpgrpi(uiósglîøP(kiuinsh(R^cø(ihgJ(ôlîhi(iivñîi(ki(îswrì(^T(sngîlk(glusnhi(
ñpiglv(snosnipøP(kis(rgijhir(nl(ji(piòipƒ(îr(ñipjmrni(rgpikshrhi(›n(snosnipsi(¨iJoJP(snL
osnip(jrnshrpsrpiø(ijhi(ki(òrñh(mvlî(ki(jipusgslJ(Zr(ûnrîlî(ksjglsis(ji(ñlni(jlw(jivnlî(
›nhpiwƒpss(urîskshrhir(rgijhmp(gmklps(ksjglpjsui(svñlji(gl(jhpsghii(ki(gƒhpi(ñrphsrnss(^TP(
rîi(gƒpmp(nirìlnjlps(kiñƒijg(winiûgssîi(›n(giir(gi(ñpsuihi(îswipr(iñpsvrpiJ(Yjhi(›nkmL
siînsg(oprklî(ki(gmpighshlksni(îsnousjhsgLñprovrhsgƒ(r(rrLsjis(gmpighshlksns(ñmîsgshiøP(ki(
upivi(gi(rgirjhr(nl(jñlni(îlgplpsîmp(ñi(nlviJ(Qunk(›n(uikipi(gƒ(isjhƒ(ñlsns(hipvins(
grpi(ji(jljsn(›n(îisgmnlî(^TP(umpwshmpss(ki(îsvwr(inoîiƒ(nl(jlnh(jhpƒsns(ki(gmnmhrssîi(
spmnsgi(rkijir(isjhinhi(›n(jlwhihlî(iñpijsis(gmpighshlksni(ñmîshsgƒø(s(›n(ksjglpjlî(ñi(
grpi(›î(piuinksgƒ(rgirjhrJ
c@rbJ@9@({(Tlusnhi(góisi{(gmvlnsgrpiP(wlsjsnijj(inoîiƒP(glîhlpƒP(gmpighshlksns(ñmL
îshsgiJ
QîsnrLQnkpiir(Xpromijgl
arnrh(\nsuipjshï(mò(Qopsglîhlprî(Rgsingi(rnk(
cihipsnrpï(ôiksgsniP(VsvsmrprP(`mvnsr
iLvrsî{(rnkpiirkpromijglÀïrómmJgmv
çãH

6=B;H7#H;IDB;?
*'a3*`0*)1Y'L3*0-~Z3{''LZ3')b-'-/a'
[ZY*+4,*35'*Y?41/1)1ZX
Vói(ñlpñmji(mò(hósj(ñrñip(sj(hm(iñîmpi(hói(ñmjjswsîshsij(mò(hirgósno(hói(YR^(umgrwlîrpï(
shósn(r(ñprovrhsg(òprvimpèJ(©i(rpi(hmkrï(òlîîï(rrpi(hórh(Ynoîsjó(òmp(Rñigsûg(^lpL
ñmjij(sj(nmh(ìljh(hirgósno(îsjhj(mò(jñigsûg(umgrwlîrpïJ(dmiuipP(umgrwlîrpï(pivrsnj(hói(
vrsn(òmglj(mò(YR^(rnk(rj(jlgó(sh(vljh(wi(hrloóh(rnk(îirpnikJ(crpsmlj(vihómkj(rnk(rñL
ñpmrgóij(órui(wiin(kiusjik(hm(òrgsîshrhi(umgrwlîrpï(rgúlsjshsmnP(wlh(rpi(hóiï(jlòûgsinh¬(Uh(
jiivj(hórh(shómlh(rn(iîrwmprhik(ñprovrhsg(òprvimpè(jñigsûg(umgrwlîrpï(grn(wi(nishóip(
lnkipjhmmk(nmp(îirpnik(iòòighsuiîïJ(
Y@egFGH=Ç'Ynoîsjó(òmp(Rñigsûg(^lpñmjijP(^provrhsgjP(ñprovrhsg(òprvimpèP(umgrwlîrpïJ(
lO'…X)3Z.4Y)1ZX
Vói(vrsn(gmngipn(mò(Ynoîsjó(¨rnk(rnï(mhóip(îrnolroi(òmp(Rñigsûg(^lpñmjij(sj(
hirgósno(jhlkinhj(hói(îrnolroi(hóiï(niik(rj(iòûgsinhîï(rnk(rj(úlsgèîï(rj(ñmjjswîiJ(
Virgóipj(órui(wiin(hpïsno(hm(ûnk(urpsmlj(rïj(hm(rgósiui(hósj(omrîJ(`iorpkîijj(
mò(óm(iîî(r(gmlpji(sj(kiusjikP(hóipi(sj(rîrïj(jmvihósno(îiòh(hm(wi(kijspikJ(
VóipiòmpiP(i(órui(wiin(iñîmpsno(hói(ñmjjswsîshï(mò(r(ñprovrhsg(òprvimpè(òmp(
hirgósno(rîî(îrnolroi(jèsîîjP(rîî(rjñighj(mò(Ynoîsjó(sn(hói(YR^(gîrjjpmmv(¨WsèmîsíP(
HMMIJ(Vprkshsmnrî(hirgósno(vihómkj(rpi(nmh(jlòûgsinh(rnïvmpiJ(©i(kigskik(hm(
ñlpjli(mlp(mpè(wï(kiîusno(snhm(ñrphsglîrp(rpirjP(jlgó(rj(umgrwlîrpïP(oprvvrpP(
snhiprghsui(jèsîîjP(ihgJ(©óï(km(i(ñlh(umgrwlîrpï(sn(hói(ûpjh(ñîrgi¬(Rsvñîï(wiL
grlji(sh(órj(wiin(piorpkik(rj(hói(gmpi(iîivinh(mò(YR^J(Qnk(snkiik(sh(sjJ(Uò(i(
gmnjskip(Ynoîsjó(òmp(Rñigsûg(^lpñmjijP(iJoJ(Ynoîsjó(òmp(wljsnijj£(rphj£(viksgsni£(
gsusî(inosniipsno£(îrP(ihgJ(sh(jiivj(hórh(rîî(hóiji(®Ynoîsjóijf(rpi(jsonsûgrnhîï(ksòL
òipinhJ(alh(órh(irghîï(sj(hói(ksòòipingi¬(©órh(sj(sh(hórh(ksjhsnolsjóij(mni(òpmv(
hói(mhóipj¬
çãç

o@C9:A)Ä9RFC9û
mO'-X`,1/b'LZ3'/a-Y1L1Y'a43aZ/-/'*X.'a3*`0*)…Y/
çã§
mOlO'-pxBJDt'vFK'/zAqJñq'a@KzFDAD
Ynoîsjó(òmp(Rñigsûg(^lpñmjij(órj(wiin(shó(lj(òmp(jiuiprî(kigrkij(nmJ(Uh(
rpmji( sn( hói( irpîï( KIãMjJ( bmp( jmvi( hsvi( hói( òmglj( mò( YR^( rj( vrsnîï( mn( hói(
îisjP(piosjhip(rnrîïjsj{(îrnolroi(rh(hói(jinhingi(îiuiîJ(Uh(jósòhik(hómloó(piîrhsuiîï(
úlsgèîï(hm(hói(póihmpsgrî(mp(ksjgmlpji(rnrîïjsj{(îrnolroi(rh(hói(îiuiî(rwmui(jinL
hingiJ(Qòhip(hórh(niikj(rnrîïjsj(grvi(snhm(òmgljP(hóin(jèsîîjLginhpik(rññpmrgóP(hm(
jmvióm(òmglj(rh(hói(nmhsmn(mò(r(îirpnsnoLginhipik(rññpmrgó(¨dlhgósnjmn(rnk(
©rhipjP(KIäâJ(Vópmloómlh(hóiji(jhroij(hói(svñmphrngi(mò(piosjhip(órj(nmh(ksvsnL
sjóikP(rîhómloó(sh(vrï(nmh(órui(rîrïj(wiin(mwusmljJ(
Qîî(kiûnshsmnj(mò(YR^(piumîui(rpmlnk(hói(pirjmnj(òmp(îirpnsno(hói(îrnolroi(
rnk(hói(niikj(mò(hói(îirpnipjJ(©i(sîî(vinhsmn(ìljh(r(òiJ(dlhgósnjmn(rnk(©rL
hipj(jii(YR^(¥rj(rn(rññpmrgó(hm(îrnolroi(hirgósno(ósgó(sj(kspighik(wï(jñigsûg(
rnk(rññrpinh(pirjmnj(òmp(îirpnsnoø(¨dlhgósnjmn(rnk(©rhipjP(KIäâ{(KIJ(Vói(vmjh(
ñpmvsninh(górprghipsjhsgj(mò(YR^(vinhsmnik(wï(Rhpiuinj(¨KIää(rpi(ksuskik(snhm(
rwjmîlhi(rnk(urpsrwîi(mnijJ(Vói(rwjmîlhi(rpi(hói(òmîîmsno{(YR^(gmnjsjhj(mò(YnoL
îsjó(Zrnolroi(Virgósno(kijsonik(hm(viih(jñigsûik(niikj(mò(hói(îirpnipæ(sh(sj(piîrhL
ik(sn(gmnhinh(hm(ñrphsglîrp(ksjgsñîsnijP(mgglñrhsmnj(rnk(rghsushsijæ(sh(sj(ginhpik(mn(
hói(îrnolroi(rññpmñpsrhi(hm(hómji(rghsushsij(sn(jïnhrP(hihP(ksjgmlpjiP(jivrnhsgjP(
ihgJæ(sh(sj(kijsonik(sn(gmnhprjh(shó([iniprî(YnoîsjóJ(Vói(urpsrwîi(górprghipsjhsgj(
rpi{(YR^(vrï(wi(pijhpsghik(rj(hm(hói(îirpnsno(jèsîîj(hm(wi(îirpnikP(iJoJ(pirksno(
mnîïæ(YR^(vrï(nmh(wi(hrloóh(rggmpksno(hm(rnï(ñpiLmpkrsnik(vihómkmîmoïJ(XlkL
îiïLYurnj(rnk(Rh(emón(kiûni(YR^(wï(jhrhsno(hópii(rwjmîlhi(rnk(jiuiprî(urpsrwîi(
górprghipsjhsgjJ(Vói(ûpjh(mni(sj{(YR^(sj(kijsonik(hm(viih(hói(jñigsûg(niikj(mò(hói(
îirpnip(¨XlkîiïLYurnj(rnk(Rh(emónP(KIIä{(§J(Qnmhóip(YR^(ñprghshsmnipP(`iwiggr(
Rvmrè(jrïj(hórh(¥YR^(sj(Ynoîsjó(snjhplghsmn(wrjik(mn(rghlrî(rnk(svviksrhi(niikj(
mò(îirpnipj(óm(órui(hm(jlggijjòlîîï(ñipòmpv(pirîLîsòi(hrjèjø(¨RvmrèP(HMMç{(HâJ
©órh(kmij(®ñipòmpvsno(pirîLîsòi(hrjèjf(rghlrîîï(virn¬(©órh(km(hói(îirpnipj(
niik(hm(wi(rwîi(hm(ñipòmpv(hóiji(hrjèj¬(Qñrph(òpmv(hói(mwusmljP(jlgó(rj(hói(wrjsg(
oprvvrpP(órh(sj(nigijjrpï(òmp(hóiv(hm(vrjhip(sj(hói(rññpmñpsrhi(lji(mò(hói(piîiL
urnh(piosjhipJ(Wm(vrhhip(óm(iîî(hóiï(rpi(rwîi(hm(lji(hóisp(ènmîikoi(mò(YnoîsjóP(
hóiï(grnnmh(ñipòmpv(iîî(sò(hóiï(rpi(nmh(òrvsîsrp(shó(hói(virnsno(mò(hói(jñigsûg(
umgrwlîrpïJ(dmiuipP(piosjhip(shjiîò(sj(òrp(òpmv(wisno(inmloóJ(©órh(i(niik(sj(
hói(gmnhih(òmp(hósj(piosjhipJ(Vói(mpkj(mò(^ihip(ôrjhip(jhrhi(hói(niik(òmp(r(ñproL
vrhsg(òprvimpè(¨rîhómloó(ói(niuip(vinhsmnj(hói(mpk(^provrhsgj(shjiîò(shósn(
hói(YR^(hirgósno(rnk(îirpnsno(sn(mpkip(hm(viih(hói(îirpnipjf(niikj(sn(hói(wijh(ñmjL
jswîi(rï{(¥hói(usi(mò(îrnolroi(rj(gmvvlnsgrhsmn(mñinik(hói(rï(òmp(r(vmpi(

Q(^`Q[ôQVUT(b`QôY©S`ü((bS`(VdY(YR^(cSTQa\ZQ`†(QT]\URUVUSW
oîmwrî(rññpmrgó(hm(jgsinhsûg(îrnolroiP(sngîlksno(snuijhsorhsmn(mò(hói(pirjmnsno(
rnk(gmngiñhlrî(ñpmgijjij(jgsinhsjhj(rññîsikJ(Vói(skir(hórh(hói(kijgpswik(póihmpsgrî(
rnk(ksjgmlpji(jhplghlpij(vsoóh(wi(hpli(rgpmjj(îrnolroij(îik(hm(r(ni(gmngiñh{(hórh(
jigmnk(îrnolroi(îirpnipj(mlîk(îirpn(Ynoîsjó(wï(ñprghsgsno(jgsinhsûg(hrjèj(hórh(
ipi(rîpirkï(òrvsîsrp(hm(hóiv(sn(hóisp(nrhsui(îrnolroijø(¨ôrjhipP(HMMM{(KâLKäJ(
mOmO'aKoxEoGJqD
ôrjhipfj(mpkj{(¥wï(ñprghsgsno(jgsinhsûg(hrjèjø(rpi(hói(gli(òmp(snhpmklghsno(
ñprovrhsgjJ(Vói(lji(mò(îrnolroi(hópmloó(ñprghsgi(rnnmlngij(hói(nmhsmn(mò(gmnhih(
ósgó(sj(hói(èiï(nmhsmn(rnk(hói(òmgrî(ñmsnh(mò(ñprovrhsgjJ(Vói(èiï(kiûnshsmnj(mò(
ñprovrhsgj( ivñórjsi( hósj( ñrphsglîrp( rjñighJ( ^provrhsgj( jiièj( hm( ®górprghipsi(
hói( òirhlpij( mò( hói( jñiigó( gmnhih( ósgó( óiîñ( kihipvsni( ósgó( ñpmñmjshsmn( sj(
iñpijjik(wï(r(osuin(jinhingif(¨RhrînrèipP(KIâH{(çäçJ(Rhrînrèip(jiij(ñprovrhL
sgj(rj(®hói(jhlkï(mò(îsnolsjhsg(rghj(rnk(hói(gmnhihj(sn(ósgó(hóiï(rpi(ñipòmpvikf(
¨RhrînrèipP(KIâH{(çäçJ(Tpïjhrî(kiûnij(ñprovrhsgj(rj(®hói(jhlkï(mò(îrnolroi(òpmv(
hói(ñmsnh(mò(usi(mò(ljipjP(ijñigsrîîï(mò(hói(gómsgij(hóiï(vrèiP(hói(gmnjhprsnhj(
hóiï(ingmlnhip(sn(ljsno(îrnolroi(sn(jmgsrî(snhiprghsmn(rnk(hói(iòòighj(hóisp(lji(mò(
îrnolroi(órj(mn(mhóip(ñrphsgsñrnhj(sn(hói(rgh(mò(gmvvlnsgrhsmn(¨TpïjhrîP(KIäå{(
H§MJ(`mji(rnk(ürjñip(¨HMMK{H(jrï(hórh(ñprovrhsgj(sj(hói(jhlkï(mò(gmvvlnsgrL
hsui(rghsmn(sn(shj(jmgsmglîhlprî(gmnhihJ(Uh(sngîlkij(jñiigó(rghjP(ñrphsgsñrhsmn(sn(
gmnuipjrhsmnP(inorosno(sn(ksòòipinh(hïñij(mò(ksjgmlpji(rnk(jljhrsnsno(snhiprghsmn(
sn(gmvñîi(jñiigó(iuinhjJ
©óin(îirpnsno(r(òmpison(îrnolroiP(i(jhpsui(hm(vrjhip(jiuiprî(ksòòipinh(hïñij(
mò(gmvñihingiJ(Un(gmvvlnsgrhsui(hóimpsij(mò(îrnolroi(îirpnsnoP(îrnolroi(rwsîshï(
sj( oiniprîîï( ksuskik( snhm( C9:;9b( rnk( bFPP9Q@( gmvñihingi( ¨sngîlksno(
jmvihósno(i(gmlîk(nrvi(9:>@Gb9F:AC(gmvñihingi(¨gmvñpsjsno(ènmîikoi(mò(îsnolsjhsg(lnshj(rnk(hói(plîij(
òmp(ìmsnsno(hóiv(hmoihóip(rh(hói(îiuiîj(mò(¨r(jinhingi(8®oprvvrhsgrî(gmvñihingif(
rnk(¨w(ksjgmlpji(8(®hihlrî(gmvñihingifæ(rnk(HJ(BGA;PA>9b(gmvñihingi(ósgó(
gmnjsjhj(mò(¨r(9CCFb9F:AGe(gmvñihingiP(hórh(sjP(ènmîikoi(mò(jñiigó(rghj(rnk(
jñiigó(òlnghsmnjP(rnk(¨w(=Fb9FC9:;9b(gmvñihingi(ósgó(inhrsîj(hói(rwsîshï(hm(
lji(îrnolroi(rññpmñpsrhiîï(rggmpksno(hm(gmnhihJ(Rsngi(vrjhipsno(îrnolroi(gmvL
ñihingi(sj(hói(vrsn(mwìighsui(mò(rnï(îrnolroi(hirgósno(sh(òmîîmj(hórh(rîî(hóiji(
rjñighj(rpi(hm(wi(hrloóhJ(dmiuipP(óin(mni(jhrphj(kiusjsno(rïj(rnk(vihómkj(hm(
rgósiui(hósjP(sh(jmmn(wigmvij(mwusmlj(hórh(sh(sj(nmh(rn(irjï(hrjèP(sò(rh(rîî(ñmjjswîiJ
çãå

o@C9:A)Ä9RFC9û
^provrhsg(gmvñihingi(sj(mò(gplgsrî(svñmphrngi(sn(gmvvlnsgrhmnJ(ôrjhipsno(
shP(mp(rh(îirjh(wigmvsno(rrpi(mò(shP(sîî(óiîñ(òmpison(îrnolroi(îirpnip(wi(rwîi(hm(
rumsk(gmvvmn(vsjhrèij(rpsjsno(òpmv(hói(îrgè(mò(hósj(ñrphsglîrp(îrnolroi(jèsîî{(
gmvvlnsgrhsmn(òrsîlpijP(vsjlnkipjhrnksnoj(rnk(gmnuipjrhsmn(wpirèkmnjJ
mOuO'`ApAKoB'aKoxEoGJq'vKoEAMFK}'Jp'GtA'-/a'qBoDDKFFE
Uh( órj( wiin( rpolik( hórh( ishóip( jmvi( ñprovrhsg( ènmîikoi( sj( lnsuipjrî( rnk(
mhóip(rjñighj(vrï(wi(jlggijjòlîîï(hprnjòippik(òpmv(hói(îirpnipfj(ZKP(mp(hórh(sh(kiL
uiîmñj(rîmnojski(oprvvrhsgrî(rnk(îisgrî(ènmîikoiP(shómlh(rnï(jñigsrî(hprsnL
sno( mp( hirgósnoJ( dmiuipP( i( ènm( hórh( iuin( rkurngik( rnk( ñpmûgsingï( îiuiî(
jhlkinhj(vrèi(ñprovrhsg(sò(nmh(îsnolsjhsg(ippmpjJ(
Q(oiniprî(gmnjinjlj(órj(wiin(pirgóik(hórh(ñprovrhsg(gmvñihingi(grnnmh(wi(
hrloóh(rnkP(hóipiòmpiP(îirpnikJ(dmiuipP(hóipi(rpi(rïj(hm(prsji(îirpnipjf(ñproL
vrhsg(rrpinijj(sn(gîrjjJ(Vói(òmîîmsno(jhiñj(jómlîk(wi(mò(opirh(óiîñ(hm(hirgóipj(
sn(rgósiusno(hósj(omrî{
KJ( Unhpmklgsno(hói(nmhsmn(mò(ñprovrhsg(gmvñihingi(hm(hóisp(jhlkinhjP
HJ( Yñîrsnsno(órh(sh(sj(rnk(órh(sh(gmnjsjhj(mòP
çJ( ^pmusksno(rj(vrnï(irvñîij(rj(ñmjjswîiP
§J( diîñsno(jhlkinhj(ñprghsgi(hóisp(ñprovrhsg(gmvñihingi(sn(gîrjjJ
aï(rññpmñpsrhi(¨r(gîrjj(vrnroivinhP(¨w(ñpmusksno(rlhóinhsg(vrhipsrîj(rnk(¨g(
snhpmklgsno(gmvvlnsgrhsui(rghsushsij(ivñórjssno(hói(ñprovrhsg(snñlhP(hirgóipj(
jómlîk(wi(rwîi(hm(ñpmuski(hói(îirpnip(shó(r(òrspîï(gîirp(ñsghlpi(mò(hói(nmhsmn(mò(
ñprovrhsg(gmvñihingiJ(¨WsèmîsíP(HMMI{(Hã§LHãã(©ósîi(hói(ûpjh(hm(jhiñj(grn(
wi(rññîsik(hm(wmhó([iniprî(Ynoîsjó(rnk(YR^P(hói(hóspk(rnk(hói(òmlphó(rpi(mò(hói(
lhvmjh(svñmphrngi(òmp(hói(YR^(gîrjjpmmvJ(Qòhip(osusno(hói(îirpnipj(r(oiniprî(skir(
órh(hói(ñprovrhsg(gmvñihingi(sj(rnk(óm(svñmphrnh(sh(sj(òmp(hóiv(hópmloó(hói(
ûpjh(hm(jhiñjP(hói(îrjh(hm(jómlîk(wi(ljik(hm(vrèi(jhlkinhj(ñprghsgi(rj(vlgó(rj(
hóiï(grn(hólj(wigmvsno(rrpi(mò(hói(jsvsîrpshsij(rnk(ksòòipingij(wihiin(hóisp(
vmhóip(hmnoli(rnk(hói(òmpison(îrnolroi(piorpksno(hói(jñigsûg(ñlpñmji(hóiï(rpi(
îirpnsno(hói(îrnolroi(òmpJ(
Tpirhsno(jlgó(r(òprvimpè(òmp(hirgósno(umgrwlîrpï(sj(r(vlgó(vmpi(górîîinoL
sno(hrjèJ(©óin(kiusjsno(jlgó(r(òprvimpèP(jiuiprî(úlijhsmnj(órui(hm(wi(rnjipik{
KJ( Uj(sh(ñmjjswîi(hm(gpirhi(r(ñprovrhsg(òprvimpè(òmp(hirgósno(umgrwlîrpï¬
HJ( ©óin(km(i(snhpmklgi(sh(hm(hói(jhlkinhj¬(
çJ( ©órh(kmij(sh(sngîlki¬
Un(hói(òmîîmsno(jighsmn(i(sîî(hpï(hm(ñpmuski(hói(rnjipj(hm(hóiji(úlijhsmnjJ
çãã

Q(^`Q[ôQVUT(b`QôY©S`ü((bS`(VdY(YR^(cSTQa\ZQ`†(QT]\URUVUSW
uO'[ZY*+4,*35'*X.'a3*`0*)1Y/
uOlO'`ApAKoB'[Fqoy@BoKr
Vói(ñpsngsñrî(òmglj(mò(îrnolroi(hirgósno(órj(oiniprîîï(wiin(mn(oprvvrp(mò(
hói(îrnolroiJ(Vói(jhrhlj(mò(umgrwlîrpï(órj(górnoik(jsonsûgrnhîï(muip(hói(ïirpjJ(
Vóipi(rj(r(wrîrngi(wihiin(oprvvrp(rnk(umgrwlîrpï(shósn(oprvvrpLhprnjîrL
hsmn(rññpmrgóijJ(©shó(hói(ivipoingi(mò(rlksmLîsnolrîsjv(hói(ivñórjsj(rj(ñlh(
jhpmnoîï(mn(oprvvrhsgrî(ñrhhipnjJ(Xlpsno(hói(KIâMj(lnkip(hói(sn¿lingi(mò(gmvL
vlnsgrhsui(îrnolroi(hirgósnoP(umgrwlîrpï(piorsnik(jmvi(mò(shj(òmpvip(svñmpL
hrngiJ(Uh(órj(wiin(rpolik(hórh(shómlh(rn(ihinjsui(umgrwlîrpïP(îirpnipj(sîî(wi(
lnrwîi(hm(lji(jhplghlpij(rnk(òlnghsmnj(hóiï(vrï(órui(îirpnik(òmp(gmvñpióinjswîi(
gmvvlnsgrhsmnJ(¥Vói(gmnjinjlj(mò(mñsnsmn(jiivj(hm(wi(hórh(hói(kiuiîmñvinh(mò(
r(psgó(umgrwlîrpï(sj(rn(svñmphrnh(iîivinh(sn(hói(rgúlsjshsmn(mò(r(jigmnk(îrnolroiJ(
TiphrsnîïP(gmnhivñmprpï(gmlpjiwmmèj(rpi(rj(grpiòlîîï(jhplghlpik(îisgrîîï(rj(hóiï(
rpi(jïnhrghsgrîîïø(¨WlnrnP(KIIä{(KKäJ
uOmO'-/a'[Fqoy@BoKr
Uh(órj(rîpirkï(wiin(vinhsmnik(hórh(shó(hói(ivipoingi(mò(YR^P(umgrwlîrpï(rj(
hómloóh(hm(wi(hói(mnîï(iîivinh(ksjhsnolsjósno(YR^(òpmv([iniprî(YnoîsjóJ(Vói(
mpsosnrî(skir(rj(hm(lji(nmpvrî(YRZ(vrhipsrîj(wlh(hórh(jlwìighLjñigsûg(îisgrî(
shivj(mlîk(piñîrgi(vmpi(oiniprî(hipvjJ(Vóiji(jñigsûg(shivj(ipi(îrwiîik(®pioL
sjhipfJ(Uh(rj(r(oiniprî(rjjlvñhsmn(hórh(wï(vivmpssno(inkîijj(îsjhj(mò(jñigsûg(
umgrwlîrpïP(îirpnipj(mlîk(wi(inrwîik(hm(lji(îrnolroi(òmp(jñigsûg(ñlpñmjijJ(
VóinP(ròhip(r(ósîiP(îsnolsjhj(rnk(îrnolroi(hirgósno(iñiphj(jhrphik(gîrsvsno(
hórh(umgrwlîrpï(rj(snkiik(svñmphrnhP(wlh(nmh(hórh(vlgóJ(Vóiï(ipi(lnkmlwhL
ikîï(psoóhJ(Vói(òmglj(mò(YR^(jósòhik(hóin(òpmv(umgrwlîrpï(hmrpkj(r(vmpi(òlngL
hsmnrî(rñpmrgóJ(©i(inkik(lñ(shó(r(ski(prnoi(mò(iJoJ(aljsnijj(Ynoîsjó([prvvrp(
wmmèjJ(Vósj(nrhlprîîï(prsjij(hói(úlijhsmn(rwmlh(hói(ksòòipingij(wihiin(aljsnijj(
Ynoîsjó([prvvrp(rnk([iniprî(Ynoîsjó([prvvrp¬(Vói(rnjip(sj(jsvñîi(rnk(mwL
usmlj{(hóipi(sj(nm(jlgó(hósno(rj(aljsnijj(Ynoîsjó([prvvrp(¨sh(ìljh(jiîîj(iîî(mp(
rnï(mhóip(YR^([prvvrpJ(Vóipi(rpi(mnîï(jmvi(ksòòipingij(sn(òpiúlingï(mò(mgglpL
pingi(mò(iJoJ(hinjijP(W^jP(rkuipwj(mp(rkìighsuijJ
`iorpkîijj(mò(hói(îiuiî(mò(oprvvrp(snhpmklgik(sn(r(giphrsn(wljsnijj(gmlpjiP(
îisj(vrïP(hm(r(îrpoi(ihinhP(pivrsn(lngórnoikJ(Uh(sj(iuin(vmpi(svñmphrnh(rh(îmip(
îiuiîjP(wiòmpi(îirpnipj(vrnroi(hm(îirpn(vmpi(gmvñîi(oprvvrhsgrî(jhplghlpijJ(
çãâ

çãä
o@C9:A)Ä9RFC9û
uOuO'*'aKoxEoGJq'LKoEAMFK}'vFK'GtA'-/a'[Fqoy@BoKr
Vói(gmngîljsmn(i(órui(pirgóik(jm(òrp(sj(hórh(umgrwlîrpï(kmij(îsi(rh(hói(wrjsj(
mò(YR^æ(vmpimuipP(sh(sj(hói(ushrî(ñrph(mò(YR^J(dmiuipP(òrp(òpmv(wisno(inmloóP(sh(
jómlîk(wi(îirpnik(sn(r(jîsoóhîï(ksòòipinh(vrnnip(hórn(sh(órj(wiin(hói(grji(jsngi(hói(
ivipoingi(mò(YR^J(Sn(hói(mhóip(órnkP(sh(sj(jrsk(hórh(îirpnipj(mò(Ynoîsjó(jómlîk(
wi(rwîi(hm(lji(îrnolroi(sn(r(jmgsrîîï(rññpmñpsrhi(rïJ(Vósj(sj(rn(lnkipîïsno(òirL
hlpi(mò(iuipï(kiûnshsmn(mò(wmhó(YR^(rnk(ñprovrhsgjP(rîhómloó(sh(sj(nmh(iñîsgshîï(
jhrhik(sn(rnï(mni(piorpksno(YR^J(Uh(órj(rîjm(wiin(jrsk(hórh(hói(hprkshsmnrî(hirgósno(
higónsúlij(rpi(®mwjmîihifP(®mîkLòrjósmnikf(rnk(sniòûgsinhJ(VóljP(i(órui(hpsik(hm(
snhpmklgi(ñprovrhsgj(rj(r(ñpmjñighsui(ñrnrgir(òmp(hirgósno(rnk(îirpnsno(ñpmwL
îivj(sn(hósj(pijñighJ((
Vóipi(sj(mni(vmpi(pirjmn(òmp(snhpmklgsno(ñprovrhsgj(snhm(YR^{(rîhómloó(hói(
òmglj(sj(mn(umgrwlîrpï(nm(higónsúlij(òmp(ñprghsgrî(hirgósno£îirpnsno(órui(wiin(
kiusjikJ( ^prghsgrî( òmglj( mò( YR^( hirgósno( sj( jhsîî( mn( oprvvrp( ¨ñómnmîmoïP( rnk(
ñrphsglîrpîï(vmpñómîmoï(rnk(jïnhrJ(VóljP(sh(jiivj(hórh(ñprovrhsgj(órj(wigmvi(
rn(snksjñinjrwîi(òprvimpè(sn(hói(îrnolroi(gîrjjpmmvJ(VóipiòmpiP(sh(sj(nigijjrpï(
hm(gpirhi(r(ñprovrhsg(òprvimpè(òmp(hirgósno£îirpnsno(YR^P(rnk(gmnjiúlinhîïP(òmp(
hirgósno£îirpnsno(umgrwlîrpïJ(
Qîhómloó(ñprovrhsgj(sj(jhsîî(gmnjskipik(hm(wi(r(piîrhsuiîï(ni(îsnolsjhsg(ksjgsL
ñîsniP(sh(órj(kiûnshiîï(wiin(ijhrwîsjóik(rj(r(jiñrprhi(ksjgsñîsniJ(dmiuipP(sh(órj(
nmh(ïih(wiin(snhpmklgik(snhm(rîî(rjñighj(mò(îsnolsjhsg(pijirpgóJ(Snîï(r(òi(rhhivñhj(
órui(wiin(vrki(piorpksno(îrnolroi(îirpnsnoP(wlh(sh(sj(r(òrjhLopmsno(rpir(ñsmL
niipik(wï(arpkmusLdrpîsoP(aîlvLülîèrP(dmljiP(ürjñipP(`mjiJ
©órh(jómlîk(r(ñpmjñighsui(ñprovrhsg(òprvimpè(òmp(YR^(umgrwlîrpï(hirgóL
sno£îirpnsno(sngîlki¬
KJ( Tîrjj(vrnroivinh(8(Virgóipj(jómlîk(vrnroi(hóisp(gîrjjij(sn(hói(òmpison(
îrnolroi(hóiï(hirgóP(rj(vlgó(rj(ñmjjswîi(rnk(rj(irpîï(rj(ñmjjswîiJ(Rhlkinhj(
rj(iîî(jómlîk(lji(hóisp(nrhsui(ZK(mnîï(sn(hprnjîrhsmn(iipgsjijJ(Vóiï(vljh(
wi(iñmjik(hm(ZH(rj(vlgó(rj(ñmjjswîiP(jsngi(hórh(sj(hói(mnîï(rï(ósgó(
îirkj(hm(jlggijjòlî(ñprovrhsg(rghsushsijP(rnk(gmnjiúlinhîï(hm(jlggijjòlî(
ñrphsgsñrhsmn(sn(gmvvlnsgrhsmnJ
HJ( Qlhóinhsg(vrhipsrîj(¨pshhinP(rlksm(rnk(uskim(8(Snîï(rlhóinhsg(vrhipsL
rîj(jómlîk(wi(ljikJ(Wrhsui(jñirèip(snñlh(sj(snksjñinjrwîi(òmp(ñprovrhsg(
îirpnsno(¨ñrphsglîrpîï(jñmèin(snhiprghsmnP(sn(rlhóinhsg(ksjgmlpjiJ(¥Vósj(sj(
nmh(wigrlji(jhlkinhj(jómlîk(svshrhi(nrhsui(jñirèipjf(rghsmn(ñrhhipnj(wlh(sn(
mpkip(hm(wlsîk(hóisp(mn(ñprovrhsg(ènmîikoi(mn(hói(psoóh(èsnk(mò(snñlhø(
¨ürjñipP(KIIâJ(Vósj(sj(rwjmîlhiîï(hpli(òmp(r(oiniprî(ñprovrhsg(òprvimpèJ(
bmp(umgrwlîrpïP(ómiuipP(hói(îsjh(mò(jmlpgij(jómlîk(wi(ihinkikJ([rspnj(

Q(^`Q[ôQVUT(b`QôY©S`ü((bS`(VdY(YR^(cSTQa\ZQ`†(QT]\URUVUSW
rnk(`ikvrn(skinhsòï(òmlp(vrsn(jmlpgij(òpmv(ósgó(umgrwlîrpï(sj(jiîighik(
rnk(hóin(hrloóh{
r( Vópmloó(hói(gmlpji(wmmèJ(Vósj(sîî(sngîlki(hói(pshhin(rnk(jñmèin(
hihjP(rghsushsij(òmp(hói(ñpijinhrhsmn(rnk(ñprghsgi(mò(oprvvrhsgrî(jhplgL
hlpijP(hijhsno(iipgsjijP(rnk(jm(mnJ(ªº
w( Vópmloó(jlññîivinhrpï(vrhipsrîj(¨nmh(kijsonik(jñigsûgrîîï(òmp(umL
grwlîrpï(kiuiîmñvinh(ªº(Vósj(vrï(sngîlki(hihjP(kpsîîjP(nrpprhsuijP(
pmîi(ñîrïjP(iipgsjijP(uskimP(ihgJ
g( Vópmloó(hói(jhlkinhjJ(Q(ski(prnoi(mò(lnrnhsgsñrhik(rnk(lnñpiksghL
rwîi(shivj(sîî(sniushrwîï(jlpòrgi(òpmv(jhlkinh(snúlspsijP(úlipsijP(rnk(
ippmpjJ
k( Vópmloó(jñigsûg(umgrwlîrpï(rghsushsij(kijsonik(wï(hói(hirgóip(òmp(ósj(
ñrphsglîrp(opmlñ(mò(jhlkinhjJ(¨[rspnj(rnk(`ikvrnF(HMMK{(å§
çJ( cmgrwlîrpï( sn( hói( osuin( gmnhih( 8( Vói( èiï( ñmsnh( sn( jlgó( r( ñprovrhsg(
òprvimpè(sj(hói(gmnhihJ(Snîï(shósn(r(jñigsûg(gmnhih(grn(r(mpk(wi(
lnkipjhmmk( rnk( gmnjiúlinhîï( îirpnik( rgglprhiîïJ( Vósj( sj( mnîï( ñmjjswîi(
hópmloó(rlhóinhsg(vrhipsrîjJ
§J( Qññpmñpsrhi(lji(mò(ni(mpkj(¨jsnoîi(mpkjP(gmîîmgrhsmnjP(vihrñómpjP(sksL
mvj(8(Vói(ivñórjsj(jómlîk(wi(ñlh(mn(hói(rññpmñpsrhi(lji(mò(ni(mpkjJ(
Snîï(sò(îirpnipj(grn(lji(¨nmh(jsvñîï(lnkipjhrnk(r(mpk(rññpmñpsrhiîïP(i(
grn(jrï(hórh(hóiï(órui(hplîï(îirpnik(shJ
åJ( Yrvñîij(8(Vópmloómlh(jhiñj(ç(rnk(§(gmñsmlj(irvñîij(jómlîk(wi(ñpmL
uskikP(jm(hórh(îirpnipj(gmlîk(oprjñ(hói(virnsno(mò(hói(jñigsûik(mpkj(rnk(
iñpijjsmnj(sn(urpsmlj(gmnhihjJ
ãJ( Vprkshsmnrî( ñprghsgi( 8( Qîhómloó( hói( hprkshsmnrî( ñprghsgi( mò( kpsîîsno( órj(
wiin(gmnhijhik(îrhiîïP(sh(grn(jhsîî(ñpmui(uipï(ljiòlî(òmp(iJoJ(vivmpssno(
hói(òmpv(rnk(ñpmnlngsrhsmn(mò(ni(mpkjJ(Vprnjîrhsmn(órj(rîrïj(wiin(
mò(opirh(óiîñ(sn(îirpnsno(òmpison(îrnolroijJ(Qñrph(òpmv(hprnjîrhsno(hói(îshL
iprî(virnsno(mò(jiñrprhi(mpkj(òpmv(mni(îrnolroi(hm(rnmhóipP(sh(grn(óiîñ(
jhlkinhj(lnkipjhrnk(hói(pirî(virnsno(mò(gmîîmgrhsmnjP(vihrñómpjP(sksmvjP(
rnk(jñiigó(rghj(rj(hói(wrjsg(iîivinh(mò(ñprovrhsgjæ(rnk(óipi(hói(hprksL
hsmnrî(ñprghsgi(muipîrñj(shó(hói(ñprovrhsg(mniJ(bmpison(îrnolroi(îirpnipj(
¨ijñigsrîîï(rh(îmip(îiuiîj(hink(hm(hprnjîrhi(iuipïhósnoP(rnk(ljlrîîï(mpk(
òmp(mpkP(ósgó(prpiîï(osuij(rn(rgglprhi(hprnjîrhsmnJ(aï(hpïsno(hm(hprnjîrhi(
hói(virnsno(sn(gmnhih(mò(r(ñprhsglîrp(jñiigó(rghP(i(grn(ñpmuski(jhlkinhj(
shó(rlhóinhsg(ñprovrhsg(ñprghsgiJ
âJ( ^provrhsg( ñprghsgi( 8( ^provrhsg( ñprghsgi( jómlîk( wi( gmnklghik( hópmloó(
gmvvlnsgrhsui(rghsushsij(ivñórjssno(hói(ñprovrhsg(snñlhP(jlgó(rj(ksjL
gljjsmnjP( pmîiLñîrï( rghsushsijP( jsvlîrhsmn( rnk( svñpmusjrhsmnJ( Qîî( hóiji(
çãI

o@C9:A)Ä9RFC9û
rghsushsij(svñîï(ommk(gmvvrnk(mò(wmhó(îsnolsjhsg(rnk(ñprovrhsg(gmvñiL
hingiP(rj(iîî(rj(r(ski(YR^(umgrwlîrpïJ
'ò(i(rkmñh(hói(jhiñj(sn(îirpnsno(umgrwlîrpï(hórh(apmn(rnk(^rïni(ksjhsnolsjóP(
i(grn(hpï(hm(ûh(hóiv(snhm(r(ñprovrhsg(òprvimpè(¨jii(bsolpi(KJ(Vói(ûui(ijL
jinhsrî(jhiñj(sn(îirpnsno(umgrwlîrpï(rpi{(¨K(órusno(jmlpgij(òmp(ingmlnhipsno(ni(
mpkjP(¨H(oihhsno(r(gîirp(svroiP(ishóip(usjlrî(mp(rlkshmpï(mp(wmhóP(òmp(hói(òmpvj(
mò(hói(ni(mpkjP(¨ç(îirpnsno(hói(virnsnoj(mò(hói(mpkjP(¨§(vrèsno(r(jhpmno(
vivmpï(gmnnighsmn(wihiin(hói(òmpvj(rnk(virnsno(mò(hói(mpkjP(rnk(¨å(ljsno(
hói(mpkJ(¨drhgó(rnk(apmnP(KIIå{(çâçJ
bsolpi(K{(cmgrwlîrpï(shósn(hói(^provrpsg(bprvimpè
)tA' ñnA' DGAzD' Jp' BAoKpJpx' aKoxEoGJq'vKoEAMFK}
nFqoy@BoKr
KJ( Yngmlnhipsno(ni(mpkj
HJ( [ihhsno(hói(mpk(òmpv
çJ( [ihhsno(hói(mpk(virnsno
§J( Tmnjmîskrhsno( mpk( òmpv( rnk(
virnsno(sn(vivmpï
åJ( \jsno(hói(mpk
• Qlhóinhsg(vihipsrîjP(umgrwlîrpï(
sn(gmnhih
• XsghsmnrpïP( hirgóipP( mhóip(
jhlkinhjP(mp(òpmv(hói(gmnhih
• XsghsmnrpïP( hirgóipP( mhóip(
jhlkinhjP(mp(òpmv(hói(gmnhih
• ^prghsgi(8(kpsîîP(hprnjîrhsmn(
• ^prghsgi(8(ksjgljjsmnP(pmîiLñîrïP(
jsvlîrhsmnP(svñpmusjrhsmn
Vósj(ûolpi(sj(ìljh(rn(irvñîi(mò(óm(i(gmlîk(sngmpñmprhi(umgrwlîrpï(îirpnL
sno(snhm(r(ñprovrhsg(òprvimpèJ(Vói(jhiñj(kiûnshiîï(muipîrñJ([ihhsno(hói(mpk(
òmpv(rnk(hói(mpk(virnsno(grn(wi(kmni(jsvlîrhnimljîïP(ósîi(jmvihsvij(òmp(
gmnjmîskrhsno(mpk(òmpv(rnk(virnsno(sn(vivmpï(ñprovrhsg(ñprghsgi(sîî(wi(niL
gijjrpïJ(
Vói(ûòhó(jhiñ(sj(hói(èiï(jhiñ(sn(hói(ñprovrhsg(òprvimpè(wlh(nmh(rwjmîlhiîï(
ijjinhsrî(sò(hói(omrî(sj(ñlpiîï(pigiñhsui(ènmîikoiJ(VóipiòmpiP(grn(i(jhrhi(hórh(
hósj(ñprovrhsg(òprvimpè(sj(nmh(jlgó(r(nigijjshï(ròhip(rîî¬
©órh( sj( vmpiP( mpkj( grn( wi( îirpnik( hópmloó( hóiji( ûui( jhiñj( shómlh( rnï(
ñprovrhsg(òprvimpè(órhjmiuipJ(©órh(sj(vmpiP(jhlkinhj(grn(rggskinhrîîï(gmvi(
rgpmjj(r(ni(mpk(sn(r(wmmè£(nijñrñip£(ìmlpnrî£(hihwmmè£(mn(VcP(ihgJ(rnk(òmîL
çâM

Q(^`Q[ôQVUT(b`QôY©S`ü((bS`(VdY(YR^(cSTQa\ZQ`†(QT]\URUVUSW
îm(rîî(ûui(jhiñj(mn(hóisp(mn(vivmpssno(hói(mpk(shómlh(rnï(pirî(ñprghsgiP(
rgúlspsno£îirpnsno(hói(mpk(rj(wmhó(pigiñhsui(rnk(ñpmklghsui(umgrwlîrpï(rh(hói(
jrvi(hsviJ
Qnmhóip(ñpmwîiv(sj(hói(mwusmlj(òrgh(hórh(umgrwlîrpï(îirpnsno(grnnmh(wi(jiñrL
prhik(òpmv(mhóip(rjñighj(mò(îrnolroi(îirpnsnoJ(©i(grn(jii(òpmv(órh(i(órui(
jrsk(jm(òrp(hórh(nm(umgrwlîrpï(ñprghsgi(sj(ñmjjswîi(shómlh(mhóip(îsnolsjhsg(jèsîîj(
rnk(gmvñihingijJ(Rsngi(hói(wrjsg(iîivinh(mò(ñprovrhsgj(sj(r(jñiigó(rgh(ósgó(
gmnjsjhj(mò(jiuiprî(mpkj(sh(kiûnshiîï(igiikj(hói(jgmñi(mò(umgrwlîrpï(îirpnsnoJ(
Vói(ñprovrhsg(òprvimpè(òmp(umgrwlîrpï(grn(hóipiòmpi(mnîï(wi(sngîlkik(snhm(hói(
oiniprî(ñprovrhsg(òprvimpèJ(
RmP(óipi(kmij(hósj(îirui(lj¬(QññrpinhîïP(ñprovrhsgj(órj(wigmvi(r(nigijL
jshï(sn(îrnolroi(hirgósno(rnk(îirpnsnoP(òmp(wmhó([iniprî(rnk(Rñigsûg(^lpñmjijJ(
dmiuipP(sh(grnnmh(wi(ksuskik(snhm(jiñrprhi(òprvimpèj(òmp(ñpmnlngsrhsmnP(umL
grwlîrpïP(oprvvrpP(ihgJ(Uh(órj(hm(wi(piorpkik(rj(r(ómîi(rnk(rj(jlgó(sh(jómlîk(wi(
snhpmklgik(wmhó(snhm(hirgósno(Ynoîsjó(òmp([iniprî(^lpñmjij(rj(iîî(rj(YR^P(óipi(
hói(gómsgi(mò(umgrwlîrpï(kiñinkj(vipiîï(mn(hói(piosjhip(nigijjrpï(òmp(hói(jñigsûg(
ñlpñmjiJ
úO'YZXY,4/1ZX
Un(hósj(ñrñip(i(órui(hpsik(hm(iñîmpi(hói(ñmjjswsîshï(mò(kiusjsno(r(ñprovrL
hsg( òprvimpè( òmp( hirgósno£( rgúlspsno£( îirpnsno( hói( YR^( umgrwlîrpïJ(Vói( jhrpL
hsno(ñmsnh(rj(hói(skir(hórh(shómlh(rn(iîrwmprhik(ñprovrhsg(òprvimpè(jñigsûg(
umgrwlîrpï(gmlîk(nmh(wi(lnkipjhmmk(rnk(îirpnik(iòòighsuiîïJ(\nòmphlnrhiîïP(i(
gmlîk(nmh(ijhrwîsjó(r(jñigsûg(ñprovrhsg(òprvimpè(òmp(umgrwlîrpï(rîmni(jsngi(sh(
sj(snhiphsnik(shó(mhóip(iîivinhj(mò(îrnolroi(rnk(sj(snóipinh(hm(rnï(îrnolroi(
jèsîî(hm(hórh(ihinh(hórh(sh(grnnmh(wi(hrloóh(jiñrprhiîïP(igiñh(rj(îsjhj(mò(mpkj(rnk(
iñpijjsmnj(ósgó(órui(îmno(wiin(ksjgrpkik(rj(r(ljiòlî(higónsúli(òmp(rgúlspsno(
ni(umgrwlîrpïJ(
©i(órui(gmvi(hm(hói(gmngîljsmn(hórh(umgrwlîrpï(grn(mnîï(wi(hrloóh(shósn(
r( oiniprî( ñprovrhsg( òprvimpè( òmp( hirgósno( r( îrnolroi( òmp( jñigsûg( ñlpñmjij(
piorpkîijj(mò(hói(svñmphrngi(mò(jñigsûg(îisj(òmp(hói(ñrphsglîrp(ñpmòijjsmnJ(Qn(
inhóljsrjhsg(rhhivñh(wrjik(mn(r(ñîihómpr(mò(skirjP(irvñîij(rnk(jlooijhsmnj(òmp(
wihhip(rnk(vmpi(iòûgsinh(umgrwlîrpï(rgúlsjshsmn(gmîîighik(klpsno(ïirpj(mò(iñipsL
ingi(inkik(lñ(jrkîï(îirusno(lj(ksjrññmsnhik(rnk(prhóip(jlpñpsjik(wï(hói(mlhgmviJ
RhsîîP(sh(sj(mò(ushrî(svñmphrngi(hm(ñlpjli(hói(mpè(mn(hói(sjjli(jsngi(hói(rvmlnh(
mò(ñlwîsjóik(pijirpgó(sn(hói(rpir(pivrsnj(ksjrññmsnhsnoîï(jvrîîJ(©i(ómñi(hórh(
çâK

o@C9:A)Ä9RFC9û
umgrwlîrpï(hirgósno(shó(shj(sjjlijP(ñpsngsñîij(rnk(higónsúlij(sîî(piorsn(hói(svL
ñmphrnh(ñîrgi(sn(hói(îrnolroi(gîrjjpmmv(sh(psoóhòlîîï(kijipuijJ((
3-L-3-XY-/'
argóvrnP(ZJ(¨KIIMJ(vAC)cF:=9H@GA>9F:=)9:)8A:;9:;s)Sòmpk{(Sòmpk(
\nsuipjkshï(^pijjJ
TpïjhrîP( XJ( ¨KIäåJ( T) ^9b>9F:AGe) Fi) 89:;9b=) A:H) OJF:@>9b=P( Hnk( ikshsmnJ( Sòmpk{(
aîrgèiîîJ
XlkîiïLYurnjP(VJ(rnk(Rh(emónP(ôJeJ(¨KIIäJ(^@Q@CFBP@:>=)9:)]aOl)T)o9H9=b9BC9:AGe)
TBBGFAbJs)Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjJ
[rspnjP(`JP(`ikvrnP(RJ(¨HMMKJ(_FGR9:;)g9>J)_FGH=J(Trvwpskoi{(Trvwpskoi(\nsuipjshï(
^pijjJ
drhgóP(YJ(rnk(apmnP(TJ(¨KIIåJ(VFbAf9b=l)A:H)8A:;@:b@)U@)[Au(¨Wih©mpè((ã(ªdVôZ(kmglL
vinhJ(dmnmîlîl{(\nsuipjshï(mò(drrsfsP(Rigmnk(Zrnolroi(Virgósno(…(Tlppsglîlv(
TinhipJ(`ihpsiuik(ªKH(Xigivwip(HMMâ(òpmv(hói(©mpîk(©ski(©iw{(óhhñ{££Jn¿pgJ
órrssJikl£Wih©mpèj£W©Mã£
ôrjhipP(^J(¨YkJ(¨HMMMJ(h@=BF:=@=)>F)]:;C9=J)iFG)aB@b9{b)OG9b=)9:)8A:;@)
Fi)>J@)TG>)¨ññJ(KLKçJ(Rsnorñmpi{(RYQôYS(`iosmnrî(TinhpiJ(
çâH

Q(^`Q[ôQVUT(b`QôY©S`ü((bS`(VdY(YR^(cSTQa\ZQ`†(QT]\URUVUSW
6,R0(&#(0)*R0T#
+"*2-*%,°4,('4&,"()*(#°./.(%."-,0'1'2,6.(6.),4*(3%"#4.
¢%2#$%
#(;B;O((A@(>F(Ç(O;(O;(END(=;(FÇ>(N}C(à@(ÇC(=;(z;(E>(ÖC(ÖC(>(?@(
FÇ(((FBC(F=>(A@(ÖC(>?(FÇ(Ö@(FC(Ö;|(NBC?(FO@(Ç(?@(FÇ(?@;(Ç@(?B@(FC(O;((Ç>J("@(z>(}>(ÇC(OC(Ç;(AC(>(ÇCÑ(=>(?C(N}C(à@(FN(?((FC(;z@?(|@(z;(NFB@(Ö@(àC(
ÇC(=;(z;(E>(ÖCP(@z>(A@(z>(FN(;=C(A;(B;Å(=C¬(,(EzC(A@(A@(FC(:C((=@(N(}>(Ç>(=@(y(=@(}>=(
>(N(y

çâ§

0-&(&#S*%0+&
cQSTU"fT&"'!Se#\R"S"'\PQRQc!PQ]'T''
Se$T!STPQ]'e!c\$\g"'W"''
e\g\'!S$"RQ]'&\WTP"
Ü>Å(;B;E((ÇN((FÇ>}(?;E(NFOCL
(O@J(
ëï4N)'%)"%)N#Ç'FÇ(ÖC(>?(FÇ(FÇN(AC(=@(Ç@P(=C(O@}(?>(ÖC(>?
lO'eUQ#
#(;:(O@(N}C(àC(FÇÑ(ÖC(>(?@((
NF(y;(FÇ@(BÅ@(à@(NFyC(|=C(?;(ON(=>(?@(~>(ÖCP((Ö@(à@(Ç;(zC((ÖCP(( :;E( y;(FC(A;(B@(à@( B>(|>Ñ( ?B@(z>(É>(?@(~>(Ö@J( +(Ç;O( ÖC(
=@(àC(FÇ(?@(FÇ(à@(àC(?;(ON(=>(?@(~>(ÖC(N(y;(Fz;BL
=;Ö(FÉC(J(#(;B;O((B@(~>(ÖN(>(=@(}@Ö(N}C(à@(
FÇÑ(ÖC(>(?@(?@;(F(?@(~>(ÖC(y(|ÅC(àN(FÇN(AC(=@(Ç@£?>(à@J(
%>(OC(FC(N?@(N(ÖC(>(=@(~>Å(N}C(à@(=C(?;E(FÇ(?@P(?;(Ö>(FC(N(=@Ö(BC(D;Ö(OC((
Ç>(}C(NFB@(Ö@(à@(ÖC(>}(?>Ñ(=@(à@((y}(=C(Ny;(ÇL
@(àN(?;(ON(=>(?@(~>Ö(F?C(?;O(yC(ÇC=Ç(=;(FÇ>(N(A=(ÇC(Ö>(F@(FÇO(
E;(B;(?;OJø(¨aïprv(HMMå{(KK
mO'&\'WTP'!S$e'P\'T'cQ'ST'U"'fT'&"
6C(>?(FÇO@(B>(|C(AC(É>(=>(~>(Ö@(;A(?;(Ö>Ñ(FB@(?@(y;(?N(|@(B@(y(=>(ÖC(
A@(E@(;y>(|CJ(á;É(O@=(¨KIâã{(KâM(AC(É>(=>(|C(=@(FzC(AC(D>(=@(}>=(¥6C(>?(FÇÑ(ÖC(>}(?>Ñ(F(FC(?;((FÇC(N(;E(}C(=;Ö(FÇ(?@(~>(ÖCP(A@(:>(;F>(EN(((OC(N(ÅN(A>(?;(Ö>(FN(@L
y;(FzC(=>(N(Ç;Ö(FÉC(Jø(á;(5@(ÖC

çâã
ÿ,('()5"#î(
BN(AC(É>(=>(~>(ÖN(>(Ç;(N?@(>(B@(àCO(=@(;A((FÇ(=@(FÇ(AÑ(;:z@(FÇ>(@z>(>(=@(z@(>(?CP(
}>(OC(FC(Fz@(GN(F@(á;É(O@(=;O(¨KIâã{(çK(¥A@(FC(O;(GC(>(BN(D>(@(?ÅN(}@?(A@(FN(
z@(>(~>(O@(y;(Ç(CzC(OC=(Ç>(ÖC(>(?@(FÇ(=C(>(F@O(ÖC(>?(FÇ(7>F(Ç>(}N(A@(ÖC(ÖC(>?(FÇ(ÖC((Ö@(z>(@(~>(ÖC(N(;?B>((yz>(=CP(?;(Ö>(FC(;EzCL
A@(N(;A(O(FÇ(FN(;A((OC(Ç;(A@(O@(FÇ(>(É;(FN(N;:>(}@(ÖC(=>(@(FÇ(ÅN((Ç>(?C(N(;:z@(FÇ>(FÇÑ(ÖC(>(?@(y;(A(=C(O@(B>(|C(@(~>Å(;Bz@(A@(B@(àC(ÖCA(=>O(>z>(B>(|C(
ÖC(>(?@(A@(:>(FC(A;(FÇ>(E@;(>AC(@z(¥>(B;}(?>(}(?C(Fy;(F;:(=;(FÇ>(A;(D>(A;(>L
(

-'%,&*Ü,6*(3%#!.0*%*(.4'0'-34'2(,(%#",3%,°4'2(#3-."./*(JJJ
Ç>(B@(~>(ÖC(FC(N(y(Ç>(B@;(@(ÖCA(=;(F@(É@?(Ç;((B@(~>(ÖC(=C((F@(O;(;(FÇ@(B;(B>(O@(BCD(>(AO(?;O(y;(=C=(Ç@(O@(N?@L
N(ÖN( O=;(E@( >F(Ç(B@(à@( ¨BJ( `s(i(vip( KIIâP( HMMKæ( X“pnïis( HMMKrP( :æ( üîiñ(ñsn(
HMMKP(HMMH(>(A?@( >OCN( >=ÇCEB=C( >(
>=FÇB@~>ÖC(A>F?NÇ;B@=@(ÖC(N(O=;E>O(FÇNA>Ö@O@(¨BJ([rpknip£
Zrvwiph(KIâKæ(üprivip(KIIçJ
+;}CÇ?;O(ACBCACFCÇ>Ñ(E;A>=@(yÖ;O(¨TpmmèijP(Rgóvskh(
KIäI(y;=;B;(ÖC(;G>BÅC=@(A>F?NF>Ö@(;(B@G=;FÇ>(O;Ç>B@~>ÖCP(y(}CON(FC(
;F>O(;B@(AB@(Ç>y@(O;Ç>B@~>ÖC(=@B;AC(>(A(É@?Ç;J(%(O;ACz(O;L
Ç>B@~>ÖC(¨X“pnïis(KII§r(F@FÇ;Ö>(FC(>(FzCACD>Ñ(?;Oy;=C=Ç>{(=>B;@(FÇ?@£A?@P(=>B;@(N}C=>?@(>(=>B;@(F>ÇN@~>ÖC(N}Cà@J(4;Oy;=C=Ç@(
=>B;@(FÇ?@(¨îrnolroi(îiuiî(y=FÇ( >=ÇCEB=N( ?;Oy;=C=ÇNP( =>B;( N}C=>?@( ¨îirpnip( îiuiî( FC( F@FÇ;Ö>( >(
@FyC?Ç@(O;Ç>B@~>ÖC(@(=@y(F@O;NBC(
¨jiîòLgmnûkingiP(A;?(=>B;(F>ÇN@~>ÖC(N}Cà@(y;AÇAJ(
#(;B;O(>FÇB@àN(:@>(FO;(FC(=@(=>B;(FÇ?@(ÇÖJ(?;O:>=@L
~>ÖN(>=FÇ(>=ÇCEB=C(O;Ç>B@~>ÖCJ
uO'$\'WeV'S"'ST'T!'S$"'%T'U"'g"
*=(?C(Ç@(ÖC(N(O@(&>(F;(?C(y;(Fz;B(=C(|?;(zC(FÇÑ(FÇNL
A>(Ö@(N(0;(B;O(3@(AN(=;(BCO(:(=CJ(3ÇN(AC=(Ç>(y(Ny>(FN(N(y(=N(:>((ÖC(>?(?;(Ö>(ÖC(;:@(BC(@=P(@(=C(?>(;A(FOCL
(A;(:>(Ö@(ÖN(>(A(FÇ(y;(Fz;B(=>(ÖC(>?(@(?;(Ö>(FC(;A(zNL
}N(ÖN(y(z>(?;O(Ny>(F@(N(ÇO(>F(Ç(B@(àCO(y;(?N(|@(z;(
çââ

ÿ,('()5"#î(
FC(A@(;A(E;(B;((=@(FzC(AC(DC(y>(Ç@(àC{(ì()*#)-.4)0%').#S/#)&%)-$()."()64)4N%)&%)
-."()'#µ)6%)2#)/()í#.)'#$)2()í4)04)#)75)-(5)#)0()*#)-4)-,%)-'#)4*5)+%)-."()'5+)6%)2#r
/()4)75)-*5,)'#$)/5').(/).#)$(u()@(;B;(>(z@(E@(àC(>(@=(?C(ÇC(FN(>(AB;(ÖC(=@(}C(Ç>((
y>(Ç@(à@P(y;(Ñ(|CFÇ(?;(Ö@(FC(Ç>(}N(F@(O;(C(B@(zN(@(~>(ÖC(=@(à@(FÇN(AC(=@(Ç@(>(
Ç;(FN{(
KJ( )@(|Ç;(O>(Fz>(ÇC(A@(ÖC(y;(Ç(?@¬
HJ( 4;(Ö>O((FÇC(y;((FÇ(?C(y;(É(Ö>(à>L
Ñ;(BC(Ny;(Ç(=@(}@(ÖN(N(ÇN((ON(>(y;(Fz;B(=;Ö(?;(ON(=>(?@(~>(Ö>¬
çJ( !@(z>(B>(F;(?;(;(:(?@(A(@(y;(FzC(=>(N(A;(OC(=N(C?;(=;(O>(ÖC(>(ÇNL
(O@(y;(FC(AN(ÖN(A;(B;Å(=;(=@(à@(FÇÑ(ÖC(>(?@¬
§J( !@(z>(FO@(Ç(Ö@¬
!@(:>(FO;(N;}>(z>(?;(Ö>(FN(O;(Ç>(B>(@(N}C(àC(;A@(:Ñ(FÇÑ(ÖC(>(?@(=@(
y(Ç@(àC(FN(y;(=N(C(=C(}C(Ç>((;y(~>(ÖCJ(,(E(?;(=@(FC(O;(GC(@(?ÅN(}>(Ç>(
A@(åHPI§«(FÇN(AC(=@(Ç@(ÇN((FÇ>}(?;E(FOC((FÇ(ÖC(>?(F@(O;(A@(:>(y;(z;(G>L
z;(>F(y>ÇP(A;?(ÖC(=@(C?;(=;O(F?>O(FOC((O@(F>(ÇN(@(~>(Ö@(F@(FB>O(A(Ö@P(KI«J(
'FÇ@(z>(O;(Ç>(B>P(@(:N(AN(D>(y;(F@;(>(@(Fy;(}(?>O(?(O@P(?;A(FÇN(AC(=@(Ç@(C?;(=;O(F?;E(NFOC((F@(çI«(;A(=;(F=;(
§HPâ«P(A;?(?;A(FÇN(AC(=@(Ç@(ÇN((FÇ>}(?;E(NFOC((O@(FÇN(AC=(Ç>(C?;(=;O(F?>Ñ(FOC((Ç;(à>Ñ(;?;(äK«(FO@(ÇO(ÖC(@(y;(F@;(>(@(ÇN((FÇ>}(?@(?(?@(:>Ç(=>(ÖC(=C(E;(
@(>F(y>ÇJ(
2(?;=(KJ(-;(Ç>(B>(@(N}C(àC(FÇÑ(ÖC(>(?@
!"#$%$&'(&)*+,+&-#.(/$0&1+'$2(
60,00%
50,00%
40,00%
30,00%
20,00%
:BC?+?9:+?9:

-'%,&*Ü,6*(3%#!.0*%*(.4'0'-34'2(,(%#",3%,°4'2(#3-."./*(JJJ
$Ç;(FC(Ç>(}C((Ny;(Ç(=@(}@L
ÖN(N(ÇN((ON(>(y;(Fz;B(=;Ö(?;(ON(=>(?@(~>(Ö>(FÇN(AC=(Ç>(;:C(EÑ(=@(FzC(AC(D>(
=@(}>=({
2(?;=(HJ("@F(y;((?@(y(Ny;(Ç(=@(}@(ÖN
(
3(-4".+5&-#.(/$0&1+'$2(&4.+6(&-#)5+/#$6(&$'.(7+/&)&
4."8+/#$6(
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
;?G9 H?>I9

ÿ,('()5"#î(
2(?;=(çJ(!@(z>(FN(=@(à@(FÇÑ(ÖC(>(?@(?@(A(&1"?&1+5(/&-#.(/$&1+'$2&5(&>)5+&
">(%+'(/<
H8
FC
,((Ç>(A@(FÇN(AC=(Ç>(;:@(FOC((@(ÖN(
=@(}@Ö( N}C(à@( FÇÑ( ÖC(>(?@J( +;(O( ÖC( N}C(àC( FÇ(?@(
:>Ç(=;(A@(:>(y;(z;(G>(z>(>F(y>ÇP(FO@(ÇO(ÖC(;=(?;((FÇ@=(>(N(ÇN((FÇ>}(?>O(
?(O@(@z>(>(@(:N(AN(D>(y;(F@;P(|Ç;(=@O(N?@(N(ÖC(>(=@(à>(Ñ;(BN(O;(Ç>(B>(F@L
çäM

-'%,&*Ü,6*(3%#!.0*%*(.4'0'-34'2(,(%#",3%,°4'2(#3-."./*(JJJ
=;FÇ(@(N}C(àC(FÇ(?@J(,FÇ;(Ç@(?;(>F(?@(>(B@(àCO(N(BC(D>(=>(A@(ÖC(=C;(yL
Ñ;A(=;(NBC(FÇ>(A(FÇ(ÖC(>?(=@(FBC(FOC((;(
B@(G=;(FÇ>(FÇÑ(ÖC(>(?@(N(A@(=@(|àCO(yzN((z>=(EB@z(=;O(?;=(~Cy(ÇN(;:(>FÇ;(B(O;(Ç>(B>(F@(=;(FÇ>(A@(FC(=@(Ç@Ö(=@(}>=(N}C(FÇBN(ÖC(N(;:z>(:;E(>=(ÇC(

ÿ,('()5"#î(
üprivipP(`J(¨KIIçJ(Rmgsrî(ñjïgómîmosgrî(òrghmpj(piîrhik(hm(hói(jhlkï(mò(Qprwsg(rvmno(
Ujpriîs(ósoó(jgómmî(jhlkinhj{(r(hijh(mò([rpknip®j(jmgsmiklgrhsmnrî(vmkiîJ(a>)@PB9G9=bJ@G)
vFG=bJ@G{(bpivkjñprgóiîP(brgójñprgói(Ysnjhiîîlno(in(kip(RhlksipinkinP(XilhjgóJ
,B@=@();~@
&>F;?@(y;Fz;B=@(|?;z@(FÇÑ(FÇNA>Ö@P
0;B>(3@AP(3Ö@
iLvrsî{(surnr mpsgrÀïrómmJki
çäH

6;BDG#:"#aF8;?
*/a-Y)/'ZL'/400*31/*)1ZX'1X')b-'.1/YZ43/-'ZL'
-,-Y)31Y*,'-X`1X--31X`
Un(hói(ñrjh(hm(kigrkij(mp(jm(i(órui(shnijjik(rn(sngpirjsnoîï(opmsno(snhipijh(sn(hói(
jhlkï(mò(ksjgmlpji(ñrpjsno(rnk(ksjgmlpji(jlvvrpsjrhsmn(òpmv(wmhó(gmvñlhrhsmnrî(rnk(
îsnolsjhsg(ñipjñighsuijJ(Un(hósj(ñrñip(U(pigmnjskip(giphrsn(hóimpihsgrî(rnk(ivñspsgrî(rjñighj(
mò(ksjgmlpji(jlvvrpsjrhsmn(òmgljjsno(vï(rhhinhsmn(mn(Ynoîsjó(rnk(bpingó(iîighpsgrî(inL
osniipsno(ksjgmlpjiJ(Vói(ûpjh(hm(ñrphj(rpi(hóimpihsgrî(sn(mpsinhrhsmnP(ósîi(hói(pivrsnsno(
ñrphj(rpi(vmpi(ivñspsgrî(sn(nrhlpi(sn(hórh(hóiï(mlhîsni(ksjgmlpji(jhplghlpij(mò(Ynoîsjó(
rnk(bpingó(iîighpsgrî(inosniipsno(ksjgmlpjijP(hóiji(wisno(sîîljhprhik(shó(wmhó(vrnlrîîïL
oiniprhik(jlvvrpsij(rnk(rlhmvrhsg(jlvvrpsjrhsmn(®mlhñlhfJ(bsnrîîïP(U(hpï(hm(ijhrwîsjó(
vrhóivrhsgj(mò(Ynoîsjó(rnk(bpingó(ksjgmlpji(jhplghlpij(wlh(mnîï(sn(hói(ksjgmlpji(mò(iîigL
hpsgrî(inosniipsno(sn(gmnhivñmprpï(Ynoîsjó(rnk(bpingóJ
Y@egFGH=Ç'Xsjgmlpji(^rpjsnoP(Xsjgmlpji(RlvvrpsjrhsmnP(YnoîsjóP(bpingóP(Xsjgmlpji(mò(
Yîighpsgrî(YnosniipsnoP(ôrhóivrhsgrî(ZsnolsjhsgjP(Tmvñlhrhsmnrî(ZsnolsjhsgjP(RlvvrL
psjipJ
lO'1X)3Z.4Y)1ZX
Qggmpksno(hm(amhh(¨KIâK{(HHãP(hói(wrjsg(rsv(mò(rlhmvrhsmn(sn(hói(ûiîk(mò(
gmvñlhrhsmnrî(îsnolsjhsgj(vsoóh(wi(¥ªº(ñpijinhªsno(r(gmvñlhip(shó(r(piúlijh(
òmp(snòmpvrhsmn(mn(r(giphrsn(jñigsûg(hmñsg(rnk(hóin(ªwisno(ñpmuskik(shó(rîî(hói(
ñlwîsjóik(vrhipsrî(rursîrwîiJø(Uh(jiivj(hm(vi(hórh(hósj(rjjiphsmn(vsoóh(jhsîî(wi(
urîsk(hmkrï(rj(sh(rj(urîsk(rh(hói(hsvi(mò(hói(gshrhsmnP(ijñigsrîîï(shó(hói(rkuinh(
mò(hói(©mpîk(©ski(©iwJ(WiuiphóiîijjP(U(jómlîk(rkk(hórh(hósj(®wpmjsnof(ñpmgijj(
mn(hói(©mpîk(©ski(©iw(vsoóh(wi(jsonsûgrnhîï(inórngik(wï(virnj(mò(svñpmusno(
rlhmvrhsg(jlvvrpsjrhsmn(hmmîjP(rvmno(mhóip(hósnojJ(Wiikîijj(hm(jrïP(sh(órj(wiin(
rpolik(òmp(rîvmjh(hósphï(ïirpj(hórh(sh(sj(ñmjjswîi(hm(rlhmvrhsgrîîï(gpirhi(igipñhj(
ósgó(viih(wrjsg(snòmpvrhsmn(gmvñpijjsmn(niikjJ(
Un(hósj(ñrñip(U(jórîî(pigmnjskip(hói(úlijhsmn(mò(rlhmvrhsg(jlvvrpsjrhsmnP(hrèL
sno(rj(r(jhrphsno(ñmsnh(gîrsvjP(òmlnk(sn(hói(piñpijinhrhsui(îshiprhlpi(mn(hói(jlwìigh(
¨ôrpglP(HMMMP(hórh(gmóipinh(hihj(ñmjjijj(snhipnrî(jhplghlpiP(hósj(jhplghlpi(wisno(
çäç

çä§
o9CFW)^s)Û9Q@)=9Q@)=

QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY(Sb(YZYTV`UTQZ(JJJ
órui(nmhósno(hm(km(shó(hói(jlpòrgi(vrnsòijhrhsmn(mò(hói(hihJ(Un(rkkshsmn(hm(hósjP(
oiniprîîï(jñirèsnoP(vrnï(isjhsno(jlvvrpsjrhsmn(hmmîj(rpi(wrjik(mn(kihighsno(hói(
gîirp(jlpòrgi(jsonrîj(shósn(hói(hihP(òmgljjsno(ñrphsglîrpîï(mn(gmóijsui(kiusgijJ(
bmp(hórh(pirjmnP(jlvvrpsjrhsmn(ñpmgijj(sj(nmhmpsmljîï(órpk(hm(ñsn(kmn(sn(ñlpiîï(
îsnolsjhsg(mp(ñlpiîï(gmvñlhrhsmnrî(hipvjJ
Vói(úlijhsmn(U(mlîk(îsèi(hm(ñmji(sj(hói(òmîîmsno{(Uj(sh(ñîrljswîi(hm(oiniprhi(r(
ksjgmlpjiLwrjik(jlvvrpsjip¬(Un(mpkip(hm(ûnk(r(jmîlhsmn(hm(hósj(úlijhsmnP(U(jómlîk(
îsèi( hm( kijgpswi( mnîï( giphrsn( jhrhiLmòLhóiLrph( jlvvrpsjrhsmn( hmmîjJ( dmiuipP( sh(
jómlîk(wi(nmhik(hórh(piginh(jlvvrpsjrhsmn(rññpmrgóij(lhsîsji(òrspîï(jmñósjhsgrhL
ik(higónsúlij(òmp(kigsksno(ósgó(îsnolsjhsg(lnshj(hm(ihprghJ(Vóiji(jmñósjhsgrhik(
higónsúlij(mòhin(piîï(jmîiîï(mn(vrgósni(îirpnsnoJ(WiuiphóiîijjP(sh(jiivj(hm(vi(
hórh(hósj(ñprghsgi(sj(nmh(jlòûgsinh(inmloó(òmp(r(ñpmñip(îsnolsjhsg(rnrîïjsjJ(Qh(hói(
jrvi(hsviP(hósj(jmph(mò(ñprghsgi(jiivj(hm(wi(wmhó(îsnolsjhsgrîîï(uroli(rnk(snkiûL
nshiJ(Rhpsghîï(jñirèsnoP(vï(rññîsgrhsmn(kmvrsn(sj(hói(jlvvrpsjrhsmn(mò(Ynoîsjó(
rnk( bpingó( ksjgmlpjij( mò( iîighpsgrî( inosniipsno H J( Rlvvrpsjrhsmn( mò( jlgó( ksjL
gmlpjij(piúlspij(r(ksòòipinh(rññpmrgó(òpmv(hórh(ljik(snP(òmp(irvñîiP(jlvvrpsjrL
hsmn(mò(nij(rphsgîijJ
mO'.1/YZ43/-'/)34Y)43-/'ZL'-X`,1/b'*X.'L3-XYb'
-,-Y)31Y*,'-X`1X--31X`'.1/YZ43/-/'
U(jórîî(nm(gmnûni(vï(ksjgljjsmn(hm(hói(ksjgmlpji(jhplghlpi(mò(Ynoîsjó(rnk(
bpingó(iîighpsgrî(inosniipsno(ksjgmlpjijP(ljsno(hói(hipv(®ksjgmlpjif(shómlh(rnï(
ñpijgpsñhsui(snhinhsmnJ(Vói(òmglj(sj(mnîï(mn(pshhin(ksjgmlpjiP(rîhómloóP(ñpmwrwîï(
snuijhsorhsno(jñmèin(ksjgmlpji(jlvvrpsjrhsmn(vsoóh(rîjm(piñpijinh(rn(snhipijhsno(
górîîinoiJ(
ôï(snuijhsorhsmn(órj(wiin(snòmpvik(wï(hói(òmîîmsno(jhlksij{(amhh(¨KIâKP(
Tómvjèï( ¨KIâMæ( KIâä( drîîskrï( rnk( drjrn( ¨KIâãP( drîumpjin( ¨KIäIP( ôrpgl(
¨HMMMP( ^ihpmòò( ¨KIâ§P( ^mîrnïs( ¨KIäIP( ^mîmusnr( ¨KIäâæ( KIIHæ( KIIãæ( KIIIP(
`rkiuP(dmuï(rnk(ôgüimn(¨HMMHP(`mlgómhr(¨KIIãP(Rrusí(¨KIIçP(Rrusí(rnk(
^mîmusnr(¨KIäIP(Rñipwip(rnk(©sîjmn(¨KIääP(Vrnnin(¨KIäIP(Vilòiî(rnk(ôminj(
¨HMMHJ
Rhpsghîï(jñirèsnoP(wmhó(Ynoîsjó(rnk(bpingó(ksjgmlpjij(mò(iîighpsgrî(inosniipL
sno(ñmjjijj(r(uipï(jsvsîrp(hih(jhplghlpi(¨rh(îirjhP(hói(iîighpmnsg(gmpñljP(ósgó(U(
H(
Un( nm( rï( km( U( gîrsv( hórh( Ynoîsjó( rnk( bpingó( ksjgmlpjij( mò( iîighpsgrî( inosniipsno( piñpijinh(
ksjgmlpjij(jlwjihj(gmvñîihiîï(snkiñinkinh(mòP(îih(lj(jrïP(iuipïkrï(ksjgmlpji(mp(îshiprpï(ksjgmlpjiJ(
dmiuipP(mnîï(hóiji(hïñij(rpi(rh(vï(ksjñmjrî(jsngi(U(ingmlnhip(hóiji(hïñij(mò(ksjgmlpjij(rj(ñrph(
mò(vï(iuipïkrï(hirgósno(ñprghsgi(rh(hói(brglîhï(mò(Yîighpsgrî(Ynosniipsno(sn(aiîoprkiJ(
çäå

o9CFW)^s)Û

QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY(Sb(YZYTV`UTQZ(JJJ
Un(hói(gmlpji(mò(jlvvrpsjrhsmn(ñpmgijjP(prhóip(hórn(rnrîïji(hóiji(jñrnj(mò(ksjL
gmlpji(¨T 1
P(B 1
P(c 1 P(^HP(] H
P(F H
(rj(r(ómîiP(U(snhipñpih(hóiv(rj(póihmpsgrî(piîrhsmnjP(
ósgó(mwhrsn(wihiin(hói(ñrspj(mò(ksjgmlpji(lnshjJ(Vóiji(póihmpsgrî(piîrhsmnj(¨hh(
vsoóh(wi(piñpijinhik(wï(virnj(mò(giphrsn(jihjP(òmp(irvñîi{
hh M
(Õ(hJ@>G@C¨G@C¨G@C¨=>;:=HO=P(c 1
P(F H
Rhpsghîï(jñirèsnoP(mn(hói(mni(órnkP(vï(póihmpsgrî(piîrhsmnj(T 1
(rnk(B 1
(ñpmuski(
jmvi(jmph(mò(gmnhihLkiñinkinh(ìljhsûgrhsmn(sn(hói(Ynoîsjó(iîighpsgrî(inosniipsno(
ksjgmlpji(gólnèP(ósîi(mn(hói(mhóip(órnkP(piîrhsmnj(^H(rnk(] H
(ñpmuski(gmnhihL
kiñinkinh(ìljhsûgrhsmn(sn(hói(bpingó(iîighpsgrî(inosniipsno(ksjgmlpji(gólnèJ((
Uh(omij(shómlh(jrïsno(hórh(hói(ñpmñmjshsmn(iñpijjik(wï(hói(nlgîilj(¨N(mò(r(
póihmpsgrî(piîrhsmn(sj(vmpi(ñiphsninh(hm(hói(ksjgmlpjrî(ñlpñmji(hórn(hói(jrhiîîshi(
¨SJ(Vósj(inhrsîj(hói(òrgh(hórh(jrhiîîshi(sjP(sn(òrghP(svñinihprwîi(rnk(mñrúliP(sò(iL
hprghik(shómlh(hói(nlgîiljJ(Vói(pivrsnkip(mò(hósj(ñrph(mò(hói(ñrñip(sj(r(jèihgóï(
kijgpsñhsui(iipgsji(sn(hói(oiniprî(jhplghlpi(mò(Ynoîsjó(rnk(bpingó(iîighpsgrî(inL
osniipsno(ksjgmlpjijJ
Un(órh(òmîîmjP(póihmpsgrî(piîrhsmnj(hshîij(rpi(îrwiîîik(rj(lnsúli(skinhsûipj(sn(
hói(òmpv(mò(jlwjgpsñhj(prnosno(muip(hói(jih(mò(nrhlprî(nlvwipj(¨iJoJ( 1
P( H
P( 3
(º( n
J(
Zih(lj(nm(jii(hói(òmîîmsno(irvñîij(sîîljhprhsno(Ynoîsjó(ksjgmlpji(rnk(bpingó(
ksjgmlpjiP(pijñighsuiîï{
¨ç( ªVósj(sj(nmh(rggmvñîsjóik(wï(snhpmklgsno(jmvi(ni(rsmv(hm(
úlrnhlv(vigórnsgjP(T 1
(ªwlhP(mn(hói(gmnhprpï(wï(pivmusno(
hói(rsmv(mò(hói(gmîîrñji(mò(hói(rui(ñrgèihJ(B 1
¨§( ªZi( vsgpmgmnhp‚îilp( ni( ksjñmji( ñrj( nmn( ñîlj( ki( vtvmspi(
vmphi(snhipniP(c H
(ªvrsj(îr(gmvvlnsgrhsmn(ruig(îfY^`Sô(
ji(òrsh(nmn(ñrj(ñrp(kij(wpmgóij(kfinhptiLjmphsiJ(^H
Vrèsno(snhm(gmnjskiprhsmn(hórh(gmóijsui(kiusgij(rpi(piîiurnh(shósn(jlvvrpsL
jrhsmn(ñpmgijj(mn(ñlpiîï(òmpvrî(opmlnkjP(giphrsn(rhhinhsmn(mloóh(hm(wi(piòmgljjik(
hm(hóivJ(amhó(Ynoîsjó(rnk(bpingó(gmóijsui(kiusgij(¨Ynoîsjó(f(rnk(bpingó(PA9=(
sn(vï(irvñîij(mgglp(sn(lnsh(i(mò(r(osuin(ksjgmlpjiJ(Ygómsno(ôrpglfj(òprviL
mpèP(U(rkmñh(hórh(hóiji(gmóijsui(kiusgij(vsoóh(jsonrî(póihmpsgrî(piîrhsmnj(ómîksno(
wihiin(ñrphsglîrp(lnshj(sn(hói(snhipurî(ªi(8(RP(9)8(KP(ósîi(hói(mhóip(lnshj(mgglp(
sn(hói(snhipurî(ªiP(i(¡(RJ(Sò(gmlpjiP(R(jómlîk(wi(r(jlòûgsinhîï(îrpoi(gmnjhrnhJ(RsvsL
îrpîïP(gmóijsui(kiusgijP(îsèi(Ynoîsjó(f(rnk(bpingó(PA9=P(vsoóh(ióswsh(póihmpsgrî(
piîrhsmnj(wihiin(jñrnj(ªi(8(R 1
P(i(8(K(rnk(ªiP(i(¡(R H
J
çäâ

o9CFW)^s)ÛAb>9b(rnk(JeBF>Ab>9b(
piîrhsmnjJ(©shó(piorpk(hm(hói(rwjhprgh(piñpijinhrhsmnP(i(vsoóh(rjjiph(hórh(hpiij(rpi(
jmîsk(vrhóivrhsgrî(rwjhprghsmnj(mò(ksjgmlpji(jhplghlpiJ
ç( ( ôï( snhipñpihrhsmn( mò( `iîiurngi( Vóimpï( òmp( vï( jlvvrpsjrhsmn( ñlpñmjij( sj( vrsnîï( wrjik( mn(
Rñipwip(rnk(©sîjmn(¨KIääP(rîhómloó(jmvi(mhóip(hshîij(¨nmh(jñigsûik(óipi(órui(rîjm(wiin(hrèin(
snhm(gmnjskiprhsmnJ
§( ( RiiP(òmp(irvñîiP(hói(kijgpsñhsmn(mò(giphrsn(lnshrpï(rggmlnhj(sn(hói(jhlkï(ñpmuskik(wï(´lpsí(
¨HMMäJ
çää

QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY(Sb(YZYTV`UTQZ(JJJ
bsnrîîïP(U(vljh(rkk(hórh(U(órui(rîjm(hrèin(snhm(gmnjskiprhsmn(jmph(mò(póihmpsgrî(
rnrîïjsj(ñpmñmjik(wï(Vilòiî(rnk(ôminj(¨HMMHJ(Tmnhprpï(hm(`óihmpsgrî(Rhplghlpi(
VóimpïP(hósj(rññpmrgó(vsoóh(wi(snhipñpihik(rj(nmnósiprpgósgrîP(piòippsno(hm(ksjL
gmlpji(gólnèj(rh(r(îmip(îiuiî(mò(oprnlîrpshïJ(dmiuipP(vï(rññpmrgó(omij(órîòL
rï(wihiin(ôrpgl(¨HMMM(rnk(VilòiîLôminj(¨HMMH(rññpmrgóijJ(VóipiòmpiP(vï(
vmkiî(piñpijinhj(rn(igîighsg(òljsmn(sngîlksno(wmhó(òprvimpèjJ
uO'.1/YZ43/-'/400*31/*)1ZX
uOlO')FMoKHD'0AoD@KJpx'.JDqF@KDA'/GK@qG@KAD'í''
3ABAnopqA'opH'3AH@pHopqr''
Un(hósj(jighsmnP(U(jórîî(kijgpswi(hói(ksjgmlpjiLwrjik(òprvimpè(òmp(iîighpsgrî(
inosniipsno(ksjgmlpji(jlvvrpsjrhsmn(ñpmgijjJ(Qggmpksno(hm(ôrpgl(¨HMMM{(HM§P(
¥ªr(vmpi(gmvñîi(rï(hm(snhioprhi(ksjgmlpjiP(gmóijsmnP(ñmjshsmnP(rnk(mhóip(jlvL
vrpsjrhsmnLwrjik(vihómkj(sj(hm(gmnjskip(hórh(hói(jhplghlpi(mò(ksjgmlpji(sj(hói(vmjh(
svñmphrnh(òrghmp(sn(kihipvsnsno(jrîsingï(ªºøJ(Vm(ñlh(sh(jsvñîïP(hósj(rññpmrgó(
kmij(nmh(hpirh(ksjgmlpji(rj(¿rh(jiúlingij(mò(ksjgmlpji(lnshjP(wlh(prhóip(rj(hpii(
jhplghlpij(pi¿ighsno(hói(nlgîirpshï(rnk(póihmpsgrî(piîrhsmnjP(ósgó(rpi(hïñsgrî(mò(
ksjgmlpji(jñrnjJ
©ósîi( rkmñhsno( ®VilòiîLôminj( vmkiîfP( U( órui( nmhsgik( hórh( jmvihsvij( hói(
uroli(kiûnshsmn(mò(piîiurngi(grnnmh(wi(piñîrgik(shó(r(vmpi(mñiprhsmnrî(póihmpsL
grî(jhrhlj(sn(r(jhprsoóhòmprpk(vrnnipJ(dmiuipP(sn(nm(rï(kmij(hói(svvsninh(
rnrîïjsj(plîi(mlh(hói(ñmjjswsîshï(mò(jinhingij(kijgpswsno(pijirpgó(omrî(mp(jhrhsno(r(
ksòòipingi(shó(r(psurî(jgsinhsûg(rññpmrgó(sn(hói(ksjgmlpji(mò(iîighpsgrî(inosniipL
sno(wisno(ljik(rj(piîiurngi(gpshipsrJ(Wmp(kmij(sh(rsv(rh(rnï(ñpijgpsñhsui(gmppigL
hsmnJ(UnjhirkP(vï(rnrîïjsj(mlîk(îsèi(hm(mòòip(r(ksjgmlpji(vmkiî(sn(ósgó(irgó(
gólnè(mò(ksjgmlpji(pigisuij(wmhó(r(póihmpsgrî(grhiompï(îrwiî(rnk(rîjm(r(hroP(svL
ñîïsno(ishóip(piîiurngi(mp(sppiîiurngiJ(Uh(mlîk(wi(snhipijhsno(hm(jii(órh(òlphóip(
rnrîïhsgrî(pijlîhj(hói(hroosno(ñpmgijj(mlîk(ñpmklgiæ(niuiphóiîijjP(sh(îsij(mlhjski(
hói(jgmñi(mò(hói(ñpijinh(ñrñipJ
uOmO'YFKz@D
ôï(iîighpmnsg(gmpñlj(gmvñpsjij(ää(jgsinhsûg(ñrñipj(gmnuiphik(snhm(rn(iîigL
hpmnsg(òmpvP(jm(hórh(hóiï(vsoóh(wi(ñpmgijjik(wï(virnj(mò(r(gmvñlhipJ(Uh(gmnhrsnj(
KãJäää(jinhingijJ(Qîî(iúlrhsmnjP(hrwîijP(ûolpij(rnk(sîîljhprhsmnj(órui(wiin(piL
vmuikP(wigrlji(hóiï(gmnjhshlhi(hói(piklnkrnh(ñrph(mò(hósj(hïñi(mò(ksjgmlpji(¨mò(
çäI

o9CFW)^s)Û

QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY(Sb(YZYTV`UTQZ(JJJ
órui(nmhsgik(hórh(hóipi(sj(r(jhpmno(gmppiîrhsmn(wihiin(hói(iîighpsgrî(inosniipsno(
ksjgmlpji(jhplghlprî(ñrhhipn(rnk(hói(gólnèj(ósgó(ólvrn(rnnmhrhmpj(ñipgisuik(rj(
wisno(ñiphsninhJ(Vósj(jiivj(hm(wi(órpkîï(jlpñpsjsno(wirpsno(sn(vsnk(hói(òrgh(hórh(hói(
ólvrn(rnnmhrhmpj(ipi(ishóip(iîighpsgrî(inosniipj(¨òmlp(nrhsui(jñirèipj(mp(òlhlpi(
iîighpsgrî(inosniipj(¨vï(jhlkinhj(òpmv(hói(Xiñrphvinh(mò(Rmòhrpi(YnosniipsnoJ
Xli(hm(svñmjik(jñrhsrî(îsvshrhsmnjP(rnk(rîjmP(hrèsno(snhm(rggmlnh(hórh(hósj(
ñrñip(jómlîk(kijgpswi(hói(rpir(mò(rlhmvrhsg(jlvvrpsjrhsmnP(U(jórîî(nmh(sngîlki(hói(
irvñîij(mò(ólvrn(rnnmhrhmpjf(jlvvrpsijP(wlh(jórîî(prhóip(mòòip(jmvi(irvñîij(
mò(rlhmvrhsg(jlvvrpsjrhsmn(mlhñlh(sn(hói(ñrph(ósgó(òmîîmjJ
uOúO'-soEzBAD'Fv'*@GFEoGJq'/@EEoKJDoGJFp
Un(mpkip(hm(irvsni(hói(ñipòmpvrngi(mò(ksòòipinh(jlvvrpsjrhsmn(rññpmrgóijP(
U(órui(gmvñrpik(hói(ñipòmpvrngi(mò(ksjgmlpjiLwrjik(jlvvrpsjip(shó(hórh(ñipL
hrsnsno(hm(r(gmvvipgsrî(jlvvrpsjipP(mp(vmpi(ñpigsjiîïP(hói(mni(sngmpñmprhik(snhm(
ôsgpmjmòh(Sòûgi(HMMâ(ñrgèroiJ(VóinP(U(prn(hói(jlvvrpsjrhsmn(ñpmoprv(mn(hói(
hihj(òpmv(vï(iîighpmnsg(gmpñljJ(
Zih(lj(nm(jii(jmvi(mò(hói(irvñîij(òpmv(vï(gmpñlj(ósgó(ûpjh(lnkipinh(
rlhmvrhsg(jlvvrpsjrhsmn(ñpmgijjP(rnk(hóin(ipi(vrnlrîîï(rnnmhrhik(rnk(jlwjiL
úlinhîï(wpmèin(snhm(ksjgmlpji(piîrhsmnj{
¨â(
¨ä(
Ynoîsjó{(ªVói(mnîï(ksòòipingi(sj(mñiprhsmn(mò(hói(pighsûip(sn(
hói( ksjgmnhsnlmlj( gmnklghsmn( vmkiP( T 1
( ªósgó( grnnmh( wi(
lhsîsik(sn(hói(grji(mò(hói(jshgósno(glppinh(snìighsmn(kiusgiP(
B 1
(ªkli(hm(ósoó(urîlij(mò(hói(snñlh(glppinh(VdXJ(c 1
(ª\nL
òmphlnrhiîïP( hósj( jsonsûgrnhîï( piklgij( rññîsgrwsîshï( mò( hói(
umîhroiLîmrkik(pijsjhrngi(ivlîrhmp(sn(hósj(grjiP(^1(ªwlh(rîî(
mhóip(vihómkj(rpi(kspighîï(rññîsgrwîiJ(] 1
bpingó{( ªXij( jsvlîrhilpj( jmnh( ksjñmnswîij( ñmlp( giphrsnj(
vsgpmgmnhp‚îilpjP(F H
(ªgmvvi(îfinuspmnnivinh(ô^ZQa(ki(
ôsgpmgósñJ( j H
( ªZij( ktuiîmññilpj( ñiluinh( rsnjs( rnrîïjip(
îi(gmvñmphivinh(kl(vsgpmgmnhp‚îilp(ih(kl(ñpmoprvviP(H H
(
ªgmvvi(jfsî(jfrosjjrsh(kl(gmvñmjrnh(ptiîJ(I H
Vói(nirh(irvñîij(òpmv(vï(gmpñlj(jm(òrp(gshik(sn(hósj(jighsmn(rpi(piîrhsuiîï(
jhprsoóhòmprpk(grjij(mò(¥kspighø(jlvvrpsjrhsmn(ñpmgijjP(wlh(hóiï(vsoóh(mwjglpi(
hói(ñsghlpiP(rj(hóipi(rpi(îmhj(mò(grjij(ósgó(km(nmh(irjsîï(îink(hóivjiîuij(hm(jlgó(
r(gîirpLglh(ksusjsmnP(rnkP(hóipiòmpiP(piñpijinh(r(ñmhinhsrî(ñpmwîiv(òmp(rlhmvrhsg(
jlvvrpsjipjJ(
çIK

o9CFW)^s)Û

QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY(Sb(YZYTV`UTQZ(JJJ
Vói(jrvi(jhmpï(sj(rññîsgrwîi(òmp(bpingó(iîighpsgrî(inosniipsno(ksjgmlpjiP(ómL
iuipP(kli(hm(svñmjik(jñrhsrî(îsvshrhsmnP(U(grnnmh(inlviprhi(vrnï(mhóip(snhipijhsno(
irvñîijJ
úO')Z~*3./')b-'0*)b-0*)1Y/'ZL'.1/YZ43/-'/)34Y)43-/'
Un(hói(gmlpji(mò(vï(snuijhsorhsmnP(U(órui(lhsîsjik(hói(òmîîmsno(òmpvrîsjrhsmnj(
òmlnk(sn(hói(îshiprhlpi(rggmpksno(hm(ósgó{(KJ(^piksgrhi(BF=9>9F:¨u i
P(E(sj(hpli(òmp(
r(ksjgmlpji(lnsh(u i
(sn(r(jiúlingi(U(sò(rnk(mnîï(sò(u i
(sj(hói(ELhó(iîivinh(sn(hói(jiL
úlingiJ(HJ(^piksgrhi(GJ@>G@C¨nrviP(u i
P(u E
(sj(hpli(òmp(ksjgmlpji(lnshj(u i
(rnk(u E
(shó(
pijñigh(hm(póihmpsgrî(piîrhsmn(:AP@(sò(rnk(mnîï(sò(hói(kiûnshsmn(^(mò(hói(póihmpsgrî(
piîrhsmn(nrvi(sj(gmnjsjhinh(shó(hói(piîrhsmn(wihiin(ksjgmlpji(lnshj(u i
(rnk(u E
P(hói(
òmpvip(wisno(r(jrhiîîshi(¨SP(rnk(hói(îrhhip(wisno(r(nlgîilj(¨NJ(
Un(mhóip(mpkjP(r(jih(mò(ñpiksgrhij(vrï(wi(piñpijinhik(rj(òmîîmj{
GJ@>G@C¨G@C¨G@C¨RESTATEMENTP(] 1
P(B 1
ñmjshsmn¨T 1
P(KP(ñmjshsmn¨B 1
P(H
ñmjshsmn¨c 1 P(çP(ñmjshsmn¨^1P(§
WmnLwsnrpï(hpiij(órui(wiin(hpirhik(rj(gmîîrñjik(uipjsmn(mò(wsnrpï(hpiijJ(Un(rkL
kshsmn(hm(hósjP(hói(jhrhlj(mò(hói(pmmhP(jlgó(rj()WP(R*(snksgrhij(hórh(ksjgmlpji(jñrn(
ªT 1
P(I 1
(vsoóh(mnîï(hrèi(muip(HFOB=FK(mp(SATELLITE(urîli(sn(r(osuin(ksjgmlpji(jñrnJ(
Q(jèihgóï(rnjip(U(rv(jlooijhsno(rh(hósj(ñmsnh(vsoóh(îsi(sn(ôrpglfj(snhinh(hm(
kihipvsni(òpmv(hói(jih(mò(n(¡(¨n(8(K(¡(¨n(8(H(¡(º(¡(K(Õ(n¨n(¡(K£H(ñmhinhsrî(
ksjgmlpji(jñrnjP(wirpsno(sn(vsnk(hórh(hóiji(jñrnj(wiîmno(hm(r(jiúlingi(mò(n(ksjL
gmlpjrî(lnshjJ(Un(hói(òmîîmsno(VrwîiP(U(inlviprhi(mnîï(jmvi(mò(hói(snksgrhmp(hïñij(
ósgó(U(jñmhhik(sn(vï(iîighpmnsg(gmpñlj{
97YB=#Mk#d8=uF=HOq#Dd#;H:;O79D8#9qV=K"
Indicator type Number
K;6;B78;9q
KHä
ODH987K9 §ã
:=;j;K
)FGoB'Fv'u'qBoDDAD
åã
HçM
çIç

o9CFW)^s)Û

QR^YTVR(Sb(R\ôôQ`URQVUSW(UW(VdY(XURTS\`RY(Sb(YZYTV`UTQZ(JJJ
3-L-3-XY-/
amhhP(ôJ(bJ(¨KIâKJ(Tmvñlhrhsmnrî(ZsnolsjhsgjJ(Un{(eJ(Zïmnj(¨ikJ{(Ä@g)tFG9kF:=)9:)89:­
;9b=J(drpvmnkjmphó{(^inolsn(ammèj(ZhkJP(HKåLHHäJ
apmnP([J(rnk([J(†lîi(¨KIä§J(^9=bF9:;J(Vói(droli(rnk(
^rpsj{(ômlhmnJ
TómvjèïP(WJ(¨KIâäJ([FB9b=)9:)>J@)[J@FGe)Fi)j@:@GA>9Q@)jGAPPAGJ(v9i>J)OG9:>9:;J(Vói(
droli(rnk(^rpsj{(ômlhmnJ
´lpsíP(ôJ(XJ(¨HMMäJ(`iîiurngi(rnk(^mjjijjsmn(sn(hói(Xsjgmlpji(mò(Yîighpsgrî(YnosniipL
snoJ(Un{(Xlérnèr(Vmêrnrg(rnk(ôsîinr(emurnmusí(¨ikjJ{(OG9P@:E@:A)C9:;Q9=>9RA)Ã)
1)89:;9?9b@)Fi)^9=bFJ@)TP@G9bA:)a>FGe)1)T)a>GFGe>@CC9:;J(TrvwpskoiP(ôrjjrgóljihhj{(Vói(ôUV(^pijjJ
^mîmusnrP(cJ(¨KIäâJ(8@R=9XRFr=@PA:>9XRA)RFJ@k9EA)9R@J(aimoprk{(Wrlênr(ènìsorJ
^mîmusnrP(cJ(¨KIIãJ(OG9CFk9)kA)RF;:9>9Q:9R9RA)9)>@R=>C9:;Q9=>9RAJ(aimoprk{(bsîmîméès(òrèlîhihJ
`rkiuP(XJ(`JP(YJ(dmuï(rnk(üJ(ôgüimn(¨HMMHJ(Unhpmklghsmn(hm(hói(Rñigsrî(Ujjli(mn(
RlvvrpsrhsmnJ(Un{(cFPBA>9F:AC)89:;9b=P(cmîlvi(HäP(Wlvwip(§P(çIIL§MäJ
`mlgómhrP(cJ(¨KIIãJ(Xsjgmlpji(Tmnnighsuij{(©órh(Xm(hóiï(Zsnè¬J(¥c8)_FGR9:;)OAB@G=)
9:)89:;9b=)•J(ªUnhipnih(ikshsmnJ
RrusíP(RJ(¨KIIçJ(^9=R=R9)E@k9RJ(Wmus(Rrk{(Unjhshlh(r(
ìlënmjîmuinjèi(ìisèi(bsîmmòjèmo(òrèlîhihrJ(
RñipwipP(XJ(rnk(XJ(©sîjmn(¨KIääJ(h@C@QA:b@Ç)cFPP9F:)A:H)cF;:9>9F:J(Sòmpk{(
arjsî(aîrgèiîîJ
VrnninP(XJ(¨KIäIJ([ACR9:;)VF9b@=Ç)h@B@>9>9F:l)^9ACF;9F:AC)
^9=bF

o9CFW)^s)Û9F:AC)89:;9b=P(cmîlvi(HäP(WlvL
wip(§P(§MIL§§åJ
6;BDG#:"#aF8;?
QR^YüVU(R\ôQ`UõQTUeY(\(XURü\`R\(YZYüV`SVYdWUüY
h@k9P@
\(ñp(m(hi(èîi(kui(ki(gi(ns(ìi(ñm(pr(jîm(ìi(sn(hi(pi(jm(ur(nìi(r(ñp(m(l(êr(ur(nìi(pré(êîr(nìs(ur(nìr(ksj(èlp(jr(
¨hìJ(ñrp(jsn(or(ksj(èlp(jrP(rîs(s(jl(vr(ps(r(gs(ìi(ksj(èlp(jrP(èr(èm(s(èmv(ñìl(hip(jèiP(hr(èm(s(s(îsn(ousL
jhsê(èi(ñip(jñiè(hs(uiJ(\(mumv(pr(kl(pr(vr(hprv(s(ui(jni(hi(m(psì(jèi(s(iv(ñs(psì(jèi(rjñiè(hi((jl(vrL
ps(r(gs(ìi(ksj(èlp(jrP(òm(èl(js(pr(ìl(ís(jum(ìl(ñr(ënìl(ñpi(urj(ómk(nm(nr(in(oîi(jès(s(òprn(gl(jès(ksj(èlpj(
iîiè(hpm(hió(ns(èiJ(^p(ur(kur(ki(îr(pr(kr(jl(hi(m(psì(jès(mps(ìin(hs(jr(nrP(kmè(jl(ñpi(m(jhr(îs(ki(îm(us(pr(kr(
us(éi(iv(ñs(psì(jèmo(èr(prè(hi(pr(l(hmv(jvs(jîl(éhm(ñpl(ër(ìl(mwps(ji(ksj(èlpj(nsó(jhplè(hl(pr(l(in(oîiL
jèsv(s(òprn(gl(jèsv(ksj(èlp(js(vr(iîiè(hpm(hió(ns(èiP(éhm(ìi(sîl(jhpm(ur(nm(èr(èm(plê(nm(oi(ni(ps(jr(nsv(
jr(ëi(gs(vrP(hr(èm(s(ñp(m(klè(hs(vr(rlhm(vrh(jèi(jl(vr(ps(r(gs(ìiJ(Wr(èpr(ìlP(ñm(èl(ér(urv(kr(lj(ñm(jhrL
usv(®vr(hi(vr(hs(èl(in(oîi(jèsó(s(òprn(gl(jèsó(ksj(èlpj(nsó(jhplè(hl(prfP(rîs(jr(vm(l(ksj(èlp(jl(iîièL
hpm(hió(ns(èi(l(jr(upi(vi(nmv(in(oîi(jèmv(s(òprn(gl(jèmv(ìi(s(èlJ
YCE

:87`7H7#>FID>;?#>D;?
ß,Z~''+4.`-)N'*X.''ßb1`b''/-*/ZXN''í''.-,[-'1X)Z'
)b-''ß[*/)'ZY-*XN'ZL'YZ,,ZY*)1ZX/'3-,*)-.')Z'
)b-',*X`4*`-'ZL')Z431/0
dm(ski(sj(mlp(prnoi(mò(gmîîmgrhsmnj(rnk(óm(jhpmno(sj(mlp(rwsîshï(hm(lji(hóiv(sn(r(òmpL
ison(îrnolroi(sj(mni(mò(svñmphrnh(iîivinhj(sn(rjjijjsno(îrnolroi(gmvñihingiJ(Vópmloó(
hói(rgúlsjshsmn(mò(gmîîmgrhsmnj(sn(r(îrnolroi(i(rgúlspi(r(®nrhlprîf(rï(mò(iñpijjsno(
mlpjiîuij(jsvsîrp(hm(nrhsui(jñirèipjJ(Vólj(i(svñpmui(wmhó(mlp(jñmèin(rnk(pshhin(gmvL
vlnsgrhsmn(jèsîîj(hópmloó(r(vmpi(gmvñîi(rnk(vmpi(iñpijjsui(jhïîiJ(
Un(hósj(ñrñip(i(sîî(òmglj(mn(hói(îrnolroi(mò(hmlpsjv(ósgó(sj(górprghipsik(wï(r(urjh(
nlvwip( mò( gmîîmgrhsmnj( sn( hói( îrnolroi( mò( wpmgólpij( rnk( mhóip( ñpmvmhsmnrî( vrhipsrîj(
ljik(sn(hmlpsjvJ( Un(ñrphsglîrpP(i(îmmè(snhm(®rkìighsui(¡(nmlnf(gmîîmgrhsmnj(ósgó(rpi(
skiîï(ñpijinh(sn(hói(kijgpsñhsui(îrnolroi(mò(hói(wpmgólpijJ(©i(sîî(rnrîïi(r(jiîighsmn(
mò(hómji(gmîîmgrhsmnj(sn(hm(ñrprîîiî(gmpñljij(8(Ynoîsjó(rnk(Ripwsrn(rnk(sîî(gmvñrpi(
hóisp(òpiúlingï(rnk(hïñmîmoïJ(Un(rkkshsmnP(i(sîî(wpsi¿ï(ñpijinh(hói(pijlîhj(mò(r(jlpuiï(
rvmno(lnsuipjshï(jhlkinhj(mò(hmlpsjv(rnk(ómhiî(vrnroivinhJ(Vói(jlpuiï(mwjipuik(hóisp(
rrpinijj(mò(hómji(gmîîmgrhsmnj(rnk(pirksnijj(hm(lji(hóiv(wmhó(sn(Ynoîsjó(rnk(RipwsrnJ
Y@e)gFGH={(gmîîmgrhsmnjP(jigmnk(îrnolroi(rgúlsjshsmnP(îrnolroi(mò(hmlpsjvP(gmnhprjhsui(
rnrîïjsjP(YR^J
lO'1X)3Z.4Y)1ZX'
Vói(svñmphrngi(mò(gmîîmgrhsmnj(grn(wi(mwjipuik(òpmv(hm(ksòòipinh(ñipjñighsuijJ(
Sn(hói(mni(órnkP(sh(órj(rîrïj(wiin(ñrph(mò(hói(jhlksij(mò(îisgmnP(gmpñmpr(rnkP(
vmpi(piginhîïP(iîighpmnsg(gmpñmprJ(Sn(hói(mhóip(órnkP(jhlksij(sn(òmpison(îrnolroi(
ñpmûgsingï(rnk(îrnolroi(ènmîikoi(rjjijjvinh(órui(rîrïj(sngîlkik(hói(jhlkï(
mò(gmîîmgrhsmnjJ(
Rhlksij(mò(îisgmn(rnk(gmpñmpr(órui(jómn(hórh(hói(îirpnipfj(vinhrî(îisgmn(sj(
vlgó(îrpoip(hórn(ñpiusmljîï(hómloóh(rnk(hórh(sh(gmnhrsnj(vlîhsLmpk(shivj(prhóip(
hórn(snksusklrî(mpkjJ(Uh(órj(rîjm(wiin(ñpmuin(hórhP(vmjh(mò(hói(hsviP(ñpmûgsinh(
ljipj(mò((ZK(lji(jmvi(jmph(mò(ñóprjimîmosgrî(iñpijjsmnj(rnk(nmh(snksusklrî(mpkjP(
çIâ

^GA;A:A)V

®ZS©((a\X[YVf(QWX((®dU[d((RYQRSWf((8((XYZcY(UWVS(VdY((®cQRV(STYQWf(JJJ
mO'.-L1X1)1ZX'*X.'Y,*//1L1Y*)1ZX'
mOlO'.AñpJpx'qFBBFqoGJFpD
Vóipi(rpi(vrnï(rïj(mò(piñpijinhsno(r(virnsno(rnk(hóipi(rpi(ksòòipinh(hïñij(
mò(virnsno(¨ñpmñmjshsmnrîP(piosjhipP(vihrñómpsgrîP(gmnnmhrhsmnrîJ(Vói(virnsno(
mò(mpkj(grn(wi(piñpijinhik(sn(ksòòipinh(rïj(sn¿lingsno(mlp(rwsîshï(hm(vivmpsi(
hói(mpkj(rnk(hm(pihpsiui(hóiv(îrhipJ(©i(grn(lji(r(jsvñîi(kiûnshsmnP(r(hprnjîrhsmnP(
r(ksroprvP(r(ñsghlpiP(mp(i(grn(piñpijinh(hói(virnsno(mò(mni(mpk(sn(piîrhsmnjósñ(
hm(rnmhóip(mp(jiuiprî(mhóip(mpkjJ(Vói(rjñigh(mò(mpk(piîrhsmnjósñj(sj(mò(lhvmjh(
svñmphrngi(òmp(hósj(pijirpgóJ(©mpk(piîrhsmnjósñj(rpi(mòhin(ljik(sn(hói(iñîrnrL
hsmnj(mò(mpk(virnsno(rnk(óiîñ(lj(lnkipjhrnk(wihhip(ksòòipinh(hïñij(mò(virnsnoj(
rnk(virnsno(nlrngij(mò(r(mpkJ(Un(rkkshsmn(hm(gmîîmgrhsmnjP(hóiï(rîjm(sngîlki(
jïnmnïvjP(rnhmnïvjP(óïñmnïvjP(vipmnïvjP(iwj(mò(virnsnoJ
Tmîîmgrhsmnj(grn(wi(kiûnik(sn(vrnï(rïj(rnk(hói(vmjh(gmvvmn(kiûnshsmn(
mò( hói( hipv( ®gmîîmgrhsmnf( òmp( nmnLîsnolsjhj( sj( hórh( sh( sj( r( hïñsgrî( gmLmgglppingi(
mò(mpkjJ(Zisj(¨ZisjP(HMMM(kiûnij(r(gmîîmgrhsmn(rj(r(rï(sn(ósgó(mpkj(
gmLmgglp(sn(nrhlprî(hih(sn(jhrhsjhsgrîîï(jsonsûgrnh(rïJ(di(ivñórjsij(hórh(sh(sj(
svñmphrnh( hórh( hói( mpkj( ósgó( gmLmgglp( hmoihóip( rpi( nmhsgik( wï( hói( îirpnipjP(
pigmpkik(rnk(îirpnh(hmoihóipJ(Zrhip(mn(hóiï(grn(wi(jhlksik(rñrph(rj(jiñrprhi(shivjJ(
Wrhsmn(¨WrhsmnP(HMMK(kiûnij(hói(hipv(fgmîîmgrhsmnf(rj(r(opmlñ(mò(mpkj(hórh(wiL
îmno(hmoihóipP(ishóip(wigrlji(hóiï(gmvvmnîï(mgglp(hmoihóip(mp(wigrlji(hói(virnL
sno(mò(hói(opmlñ(sj(nmh(mwusmlj(òpmv(hói(virnsno(mò(shj(ñrphjJ(Qîî(hóiji(kiûnshsmnj(
om(wrgè(hm(hói(jhlksij(mò(^rîvip(rnk(bsphó(¨^rîvipP(KIçç(óm(órui(pigmonsik(
opmlñj(mò(mpkj(hórh(jhrnk(hmoihóip(rj(rn(inhshïP(rnk(jómlîk(wi(îirpnh(rnk(kirîh(
shó(rj(rn(snhioprî(ómîiJ(dîiwig(¨dîiwigP(HMMâ(kiûnij(gmîîmgrhsmnj(rj(ñmjjswîi(
gmvwsnrhsmnj(mò(mpkj(ómji(snksgrhmpj(mp(grhiompsij(mò(virnsno(rpi(sn(jmvi(
rï(gmnnighik(mp(jsvsîrpJ
mOmO'YBoDDJñqoGJFp
bspjhîïP(gmîîmgrhsmnj(grn(wi(ksuskik(snhm(oprvvrhsgrî(gmîîmgrhsmnj(ósgó(gmnL
jsjh(mò(mni(mñin(gîrjj(mpk(rnk(mni(gîmjik(gîrjj(mpk(¨iJoJ(bJ@bR)9:l)bJ@bR)Fl)
G@=BF:=9fC@)iFGS>F(rnk(îisgrî(gmîîmgrhsmnj(gmnjsjhsno(mò(hm(mp(vmpi(mñin(gîrjj(
mpkjJ(^ikromosgrîîïP(hói(jsvñîijh(rnk(vmjh(iòòighsui(rï(hm(gîrjjsòï(gmîîmgrL
hsmnj(sj(wï(hói(mpk(gîrjj(mò(hóisp(gmnjhshlinhj(mp(rggmpksno(hm(jmvi(jñigsûg(jhplgL
hlpi(hóiï(òmpvJ(Un(hósj(pijirpgó(i(rpi(snhipijhik(sn(îisgrî(gmîîmgrhsmnjP(sn(ñrpL
hsglîrp(hói(mnij(shó(hói(®rkìighsui(¡(nmlnf(jhplghlpiJ(Vói(hrwîi((¨Vrwîi(K(jómj(
çII

^GA;A:A)VGAi{b)bF:>GFC
Fbb@=
jihhîi(rn(rggmlnh
wmrpk(r(ñîrni
jhm(îlooroi
gpirhi(mññmphlnshsij
J9;JCe)G@bFPP@:H@H
jñsgè(rnk(jñrn
wik(rnk(wpirèòrjh
sni(rnk(ksni
jhsp(rnk(òpï
T))Zv A)=@:=@)Fi)BG9H@
VrwîiKJ(Vïñij(mò(gmîîmgrhsmnjJ
§MM
mOuO'YKJGAKJo'vFK'zKAHJqGJFp'opH'qBoDDJñqoGJFp
ômjh(mò(hói(pijirpgóipj(¨ZisjP(HMMMP(ñ(Kçå(órui(gmngîlkik(hórh(hóipi(rpi(
uipï(òi(gmîîmgrhsmnj(hórh(rpi(gmvñîihiîï(jiîòLiuskinh(mp(îshiprîJ(Vóipi(sj(r(ñrpL
hsrîîï(nmnLîshiprîP(vihrñómpsgrî(rnk(sksmvrhsg(iîivinh(sn(iuipï(gmîîmgrhsmnP(sJiJ(
vmjh(mò(hóiv(rpi(nmh(òlîîï(ñpiksghrwîi(òpmv(gmvñmninh(mpkjJ((Uò(i(jrï(hórh(
gmîîmgrhsmnj(rpi(vrki(lñ(mò(mpkj(ósgó(órui(jmvi(jivrnhsg(kiñinkingï(óin(
hóiï(rpi(hmoihóipP(i(grn(lji(hórh(rj(r(wrjsj(òmp(ñpiksghsmnJ(Rmvi(mò(hóiji(jivrnL
hsg(piîrhsmnjósñj(rpi(mwusmlj(rnk(jómlîk(nmh(wi(iñîrsnik(òlphóipP(ijñigsrîîï(hómji(
ósgó(rpi(jsvsîrp(sn(îirpnipfj(ZKJ(
Xiûnsno( gmîîmgrhsmnj( rnk( gîrjjsòïsno( hóiv( órj( wiin( r( ksòûglîh( ìmw( òmp( îsnL
olsjhjJ(Qsvik(rh(vrèsno(hósj(hrjè(irjsipP(Wrhsmn(¨WrhsmnP(HMMK(órj(kiûnik(hin(
jgrîij(hórh(snksgrhi(órh(sj(snumîuik(sn(îirpnsno(gmîîmgrhsmnjJ(Vói(ksòòipinh(prnoij(

®ZS©((a\X[YVf(QWX((®dU[d((RYQRSWf((8((XYZcY(UWVS(VdY((®cQRV(STYQWf(JJJ
shósn(hóiji(jgrîij(rîjm(snksgrhi(ósgó(gmîîmgrhsmnj(rpi(hói(îirjh(îisgrîsik(rnk(
ósgó(rpi(hói(vmjh(îisgrîsikJ(
Å)vG@?@HJ(Vói(gmîîmgrhij(ljlrîîï(wiîmno(shósn(hói(jrvi(
jinhingi(rj(r(ñrph(mò(oprvvrhsgrî(gmnjhplghsmnJ
â)jGAPPA>9bACCe)=>GJ@sssJ(Tmîîmgrhsmnj(jómlîk(wi(iîîL
jhplghlpik(rnk(piîrhikJ
°)jGAPPA>9bAC)9F:s(Uò(gmîîmgrhsmnj(rpi(òmjjsîsik(hóiï(km(nmh(rîîm(r(
górnoi(sn(mpk(mpkipP(¨iJoJ(f@H)A:H)fG@ARiA=>l)=B9bR)A:H)=BA:n
à)cFCCFbA>9F:AC)=B@b9AC9=A>9F:J(Rmvi(gmîîmgrhij(mnîï(mgglp(hmoihóipP(rnk(jmvi(
grn(mgglp(sn(r(prnoi(mò(gmîîmgrhsmnjJ
•)8@ñ9bAC)iF==9C9kA>9F:J(Un(jmvi(gmîîmgrhsmnjP(ïml(grnnmh(piñîrgi(hói(gmîîmgrhij(
shó(mhóip(mpkj(¨iJoJ(fe)A:H)CAG;@
Ã)a@PA:>9b)FBA?

^GA;A:A)V

§Mç
®ZS©((a\X[YVf(QWX((®dU[d((RYQRSWf((8((XYZcY(UWVS(VdY((®cQRV(STYQWf(JJJ
[UcYW(WS\WR(UW(
YW[ZURd
RV\XYWV(TS`^\R(YW[ZURd
wlsîksno¨j(¨Hç
ósoó(¨IP(hrîî(¨åP(vmkipn(¨çP(óloi(¨HP(wsoP(
wpirhóLhrèsnoP((rkìmsnsno(¬P(îrnkvrpèP(hmlgóLjèï¬
gshï(¨HH
wso(¨ãP(vmkipn(¨HP(lpwrn(¨HP(òrvmljP(wirlhsòlîP(
îsui(¬P(grñshrîP(ñmñlîrpP(rngsinh(¨¬P(gmjvmñmîshrnP(
opirhP(îsuiîïP(igshsnoP(gmîmlpòlî(¨¬P(vihpmñmîshrn(
jhpiih(¨Kâ
îmno(¨åP(gpmkik(¨HP(vrsnP(skiP(òrvmljP(îmlk(
¬P(vijjï(¬P(jñrgsmlj(¬P(rhhprghsuiP(ólppï(¬
îrnkvrpè(¨å
òrvmlj(¨HP(ósjhmpsgrî(¬P(snhipijhsnoP(jgsinhsûg¬
Vrwîi(HJ(Rhlkinh(gmpñlj(¨Ynoîsjó
[UcYW(WS\WR(UW(
RY`aUQW
RV\XYWV(TS`^\R(RY`aUQW
oprki(¨KI
usjmèi(¨KKP(mopmvni(¨çP(vmkipni(¨HP(lpwrni(¬P(
nrvinshiP(wîìiéhrui(
oprk(¨KI
uiîsè(¨ãP(ñmnrh(¨HP(vmkiprn(¨HP(omjhmîìlwsuP(
oîrunsP(mopmvrnP(érpmîsè(¬P(lëlpwrnsP(îiñP(érpins(
¬P(ësuP(vihpmñmîjès(¬P(órmhsêrn(¬
lîsgr£lîsgi(¨KI
éspmèi(¨âP(klorêèr(¨HP(ñpmvihnr(¨HP(rèpêinrP(
ljèrP(ñpiîiñrP(ñpiñlnr(¬P(ñpmjhprnr(¬P(rhprèhsunr
nrvinshmjh(¨ç
urënrP(upiknrP(êluinr
Vrwîi(çJ(Rhlkinh(gmpñlj(¨Ripwsrn
WY©(†S`ü(TUV†(SbbUTUQZ(a`STd\`Y(¨Q(^dSVS(Sb(VUôYR(
R]\Q`Y
igshsno£(uswprnh
XJxtGBJvA
igshsno£(uswprnh£(ósjhmpsg£(vrìmp£(òln
,opHEoK}
òrvmlj£(rvrsno£(òrjgsnrhsno
YJGr
vmjh(rhhprghsui£(inìmïrwîi£(jròi£(
igshsno
*GGKoqGJFpD
r(ski(urpsihï(mòJJJ
KADGo@KopGDÄ'DtFzDÄ'ApGAKGoJpEApG
Vrwîi(§J(Tmîîmgrhsmnj(ljik(sn(hói(mòûgsrî(wpmgólpi 1 J
K( ( óhhñ{££JnïghmlpsjhJgmv

^GA;A:A)VAR9:;( rj( gómjin( mnîï(
mngi(rîhómloó(hósj(mlîk(wi(ñpmwrwîï(hói(vmjh(rññpmñpsrhi(rnk(rhhprghsui(mni(
òpmv(hói(opmlñ(hm(lji(sn(r(ñpmvmhsmnrî(wpmgólpiJ(Un(YnoîsjóP(hói(mpk(b9>e(rj(
kijgpswik(rj(f9;(¨js(hsvijP(PFH@G:(¨hm(hsvijP(9:;l)C9Q@Cel)bF=PFBFC9>A:J(Vóipi(ipi(jmvi(
gmvñîihiîï(snrññpmñpsrhi(gómsgijP(sn(ñrphsglîrp(hói(rkìighsui(A:b9@:>(òmp(hói(mpk(
b9>eP(sn(hói(gmnhih(mò(Vsvij(RúlrpiP(hói(irvñîi(=b9@:>9{b)CA:HPAGRP(ósgó(sj(nmh(
rggiñhrwîi(gmvwsnrhsmnP(mp(JAF>9XA:(sn(RipwsrnP(wigrlji(sh(órj(r(niorhsui(gmnL
nmhrhsmnJ(Vói(mpkj(vrpèik(shó(r(úlijhsmn(vrpè(rpi(gmnjskipik(snrññpmñpsrhiP(
wigrlji(hóiï(grnnmh(wi(gmvwsnik(shó(hói(nmlnP((km(nmh(ûh(snhm(hói(gmnhih(mp(km(
nmh(isjh(¨iJoJ(>F9:;(rj(ljik(hópii(hsvijP(Q9fGA:>(hm(hsvij(rnk(rîî(hói(mhóip(rkL
ìighsuij(¨iAPF

®ZS©((a\X[YVf(QWX((®dU[d((RYQRSWf((8((XYZcY(UWVS(VdY((®cQRV(STYQWf(JJJ
hsuiLîsèi(¿lingïJ(Tmîîmgrhsmnrî(ènmîikoi(snhpmklgij(r(jïjhiv(snhm(rn(inkîijj(
îrnolroi(gmpñlj(òmp(ZH(îirpnipjP(ijñigsrîîï(sn(îrnolroij(òmp(jñigsûg(ñlpñmjijJ(
Vói(gmîîmgrhsmnj(vrki(lñ(mò(òpiúlinh(mpkj(kijipui(vmjh(mò(hói(rhhinhsmn(sn(hói(
wiosnnsno(mò(r(îrnolroi(gmlpjiJ(Tmngipnsno(hói(îrnolroij(òmp(jñigsûg(ñlpñmjijP(
hói(hpirhvinh(mò(îijj(òpiúlinh(mpkj(rnk(gmîîmgrhsmnj(sj(ihpiviîï(svñmphrnh(sò(
hóiï(rpi(piîiurnh(hm(hói(jñigsrîsjh(îrnolroiJ
`iorpksno(hói(piîrhsmnjósñ(mò(ZK(rnk(ZHP(sh(sj(iuskinh(hórh(sn(YR^P(sJiJ(shó(
rklîh(îirpnipjP(hói(rrpinijj(jómlîk(wi(prsjik(rwmlh(hói(jsvsîrp(mp(ksòòipinh(piîrL
hsmnjósñj(wihiin(gmîîmgrhij(wmhó(sn(Ynoîsjó(rnk(Ripwsrn(gmîîmgrhsmnjJ(Vói(gmvL
ñrpsno(rnk(gmnhprjhsno(ZK(rnk(ZH(umgrwlîrpï(sîî(inórngi(hóisp(rgúlsjshsmn(rnk(
pihpsiurî(mò(gmîîmgrhsmnj(rnk(hïñsgrî(mpk(gmvwsnrhsmnjJ(
3-L-3-XY-/k
TmsiP(QJ^J( ¨ikJ( ¨KIIä{( OJGA=@FCF;eÇ) [J@FGel)T:ACe=9=) A:H)TBBC9bA>9F:=P( Tîrpinkmn(
^pijjP(SòmpkJ
´mp⁄iusíP(`J(¨HMM§{(¥QFH)GA=>9GA:E@)E@k9RAP(aimoprkP(bsîmîméès(òrèlîhihP(\nsuipL
shih(l(aimoprklJ
ZisjP(ôJP(ikJP(¨HMMM{([@AbJ9:;)cFCCFbA>9F:P(vJ@G)H@Q@CFBP@:>=)9:)>J@)8@ñ9bAC)TB­
BGFAbJP(dmuiP(Zrnolroi(Virgósno(^lwîsgrhsmnjJ
dîiwigP(ampsj(¨HMMâ{(Ynoîsjó(RivrnhsgjP(aiîoprki{(somìr(éhrvñrJ
ômpornP(eJ(P(`snumîlgpsP(ôJ(¨HMM§{(VFbAf

^GA;A:A)V

H797G7#Y;I;OI;
[1-¢,*X1'`,*`Z,1'4',1)-3*)431'1§'Z+,*/)1'
aZ/,Z[*Xû*'X*'-X`,-/{Z0'û-§1{4
cs(éiê(îr(ns(oîr(om(îs(¨èmv(ws(nr(gs(ìi(mk(ìik(nmo(îiè(jsê(èmo(oîr(om(îr(s(ìik(ni(sîs(kui(ñrp(hs(èl(îi(èm(ìi(
ês(ni(ìik(nl(îiè(jsê(èl(ìi(ks(ns(gl(jui(us(éi(ñpm(ks(pl(l(pi(os(jhpi(pr(nsó(jhpl(èrJ(Uj(hpr(ës(ur(nìi(èm(ìi(
ìi(mwr(uîìi(nm(nr(èmp(ñl(jl(mk(§Hç(pi(êi(ns(gi(s(kui(ènìs(oi(s(mwîr(jhs(ièm(nm(vs(ìi(rlhm(pr(Ujr(èr(
Qks(ëi(jrP(s(èm(ìi(ìi(mw(l(óur(hs(îm(KII(pr(îs(ês(hsó(us(éiê(îr(nsó(oîr(om(îr(lèr(r(îm(ìi(nr(nr(êrì(mñ(éhio(
ìi(s(èr(l(jr(upi(vi(nmì(îs(hi(pr(hl(ps(s(mwîr(jhs(ñm(jîm(ur(nìrJ(Qnr(îs(r(ñm(vi(nl(hmo(èmp(ñl(jr(ñm(èr(r(îr(
ìi(kr(ji(oîr(om(îs(vm(ol(jup(jhr(hs(l(hps(èr(hi(om(ps(ìi{(oîr(om(îs(èm(ìs(svr(ìl(nr(êi(nìi(jñi(gs(ûê(nm(r(
ñm(jîmu(ns(pi(os(jhrpP(oîr(om(îs(èm(ìs(ji(l(ñm(jîmu(nmv(pi(os(jhpl(ìr(uîìr(ìl(jr(sjhsv(nr(êi(nìiv(èm(ìi(
svr(ìl(s(l(mñ(éhiv(ìi(s(èlP(oîr(om(îs(èm(ìs(jhpm(om(liu(és(ni(ñps(ñr(kr(ìl(ñm(jîmu(nmv(pi(os(jhplP(rîs(
ji(nrì(êi(éíi(ìr(uîìr(ìl(l(ñps(vi(ps(vr(s(jur(èm(kniu(nmo(ës(um(hr(èm(ìs(vr(ji(ñmh(èpi(ñîìl(ìl(hi(m(psì(jèr(
mw(ìr(énìi(nìrJ(^ps(vi(íi(nm(ìi(kr(ji(ui(m(vr(vr(îs(wpmì(oîr(om(îr(ìr(uîìr(l(nr(êi(nìl(jñi(gs(ûê(nmv(
r(ñm(jîmu(ns(pi(os(jhrpJ(`i(lî(hr(hs(mumo(sj(hpr(ës(ur(nìr(vm(ol(svr(hs(nr(êrì(ni(sv(ñîs(èr(gs(ìi(r(nrL
jhr(ul(jhpr(nmo(ñm(jîmu(nmo(ìi(s(èr(s(lèr(l(ìl(nr(ñm(hpi(wl(r(km(krh(nsv(ñpm(l(êr(ur(nìiv(jîsê(ni(
îs(hi(pr(hl(piJ
YCE

ÄA>AWA)U9R9bR9
^m(jhr(uîìr(ji(ñs(hr(nìi(éhr(ìi(km(ñps(ni(îm(mumì(ñm(ìr(usJ(eik(nm(mw(ìr(énìi(nìi(ui(r(nm(ìi(
r(jr(vl(ñps(pm(kl(ñm(jîm(ur(nìrJ(Wr(s(viP(jur(èm(èm(svr(ñpik(l(ih(nsê(ès(klóP(ëi(îìl(s(ski(ìi(
vm(ëi(l(km(wrp(ñm(jîmu(ns(ñîr(ns(s(nrì(m(jnmu(ns(ìi(nr(nìi(s(mwîr(jhs(ièm(nm(vs(ìi(mjnmL
ur(hs(uîr(jhs(hm(ñpik(l(i(íiJ(^m(hpm(érê(èm(kpl(éhum(jui(êi(éíi(ìr(êr(ëi(îìl(èmk(ñm(ìi(ksn(gr(r(
jhs(gr(nìiv(ui(îs(èi(èm(îs(ês(ni(nmu(gr(éhm(ìi(nrì(êi(éíi(vm(ol(íi(ñm(ji(km(ur(nìiv(jmñ(jhui(ni(
ûp(viJ(ôi(⁄l(hsvP(nm(us(ñpm(s(um(ks(s(ljîl(oi(vm(ol(nr(êrì(nm(lhs(gr(hs(nr(ìr(êr(nìi(ñps(upiL
ki(ìik(ni(i(vîìiP(hi(ni(s(ni(nr(⁄l(ìi(éhm(ji(l(vnm(osv(i(vîìrvr(îìl(ks(wi(mw(s(pr(nr(
jhpl(èl(r(èm(ìl(jl(ji(éèm(îm(ur(îs(nr(um(ki(kr(pr(vs(éîìr(ìl(m(ñpik(l(ih(nsê(èsv(ñm(kl(óurL
hs(vrJ(Rìi(ks(nìi(ni(Qvi(psê(èi(Xp(ër(ui(jñr(kr(ìl(l(ìik(nl(mk(nrì(ñmk(jhs(grì(ns(ìsó(kp(ër(ur(
èr(kr(ji(pr(ks(m(ñpik(l(ih(ns(éhulP(hi(ìi(s(îs(hi(pr(hl(pr(s(mwîr(jhs(ñm(jîm(ur(nìr(nr(in(oîi(jèmv(
ìi(s(èl(s(l(ih(nm(wm(or(hrJ
(Urèm(s(kr(îìi(ñm(jhm(ìs(ui(îsè(wpmì(ièm(nmv(jèsó(ènìs(or(s(pr(km(ur(l(jhplê(nsv(êr(jm(ñs(jsL
vr(nr(ñs(jr(nsó(òmp(vrî(nsv(ìi(s(èmvP(vm(ëi(ji(om(um(ps(hs(s(m(ñpm(km(pl(ni(òmp(vrî(nmo(jhs(îr(
l(ñm(jîmu(nl(îs(hi(pr(hl(plP(èm(ìs(l(ñs(jr(ns(ìi(sè(lnm(js(mk(îs(èi(om(ump(nmo(ìi(s(èr(mk(èm(ìsó(jl(
ìik(nr(us(éiê(îr(ns(oîr(om(îsJ(
mO'.-'L1'X1'/*'Xû-')-3'01'X*'1'{Z3'a4/
^pi(vr(dr(îs(ki(ìl(pi(os(jhrp(mnr(êr(ur(ìi(sê(ès(ur(ps(ìi(hih(mnr(êin(ñm(îìivP(ñpru(giv(
s(vm(kl(jmv(ksj(èlp(jr(¨üps(jhrî(KIII{(çKâJ(^m(îìi(ksj(èlp(jr(mnr(êr(ur(hi(vr(hs(èl(èmL
vl(ns(èr(gs(ìi(s(up(jhl(rè(hsu(nm(jhs(l(èm(ìmì(ji(hr(èm(vl(ns(èr(gs(ìr(mk(us(ìrP(ñpr(urg(ksj(èlp(jr(
mnr(êr(ur(mk(nm(ji(vi(⁄l(lêi(jns(gs(vr(l(ni(èmì(ìi(sê(èmì(rè(hsu(nm(jhsP(nr(pm(ês(hm(jhi(ñin(
òmp(vrî(nm(jhsP(kmè(vm(klj(¨nr(êsn(ksj(èlp(jr(mnr(êr(ur(vi(ks(ìlv(ìi(sê(èi(rè(hsu(nm(jhsP(hm(
ìijh(s(wmp(s(vi(⁄l(om(um(pr(s(ñs(jr(nìrP(rîs(s(s(wmp(up(jhi(hiè(jhrJ(^m(ìrv(èm(ìs(ìi(l(ui(s(jr(
pi(os(jhpmv(ìi(jhi(ër(npJ(r(np(mnr(êr(ur(ksj(èlpj(ni(òmp(vi(èm(ìi(sj(ñl(nìr(ur(ìl(gs(îìi(ui(kr(hi(
r(ìik(ns(gi(¨Rr(îij(KIIM{(åäJ(
\( ( ñpik(om(um(pl( ènìs(oi( ¥BGA)QCEA):E@) 9)QF>):9P) b9)RC

cUöYZQWU([ZQ[SZU(\(ZUVY`QV\`U(Uõ(SaZQRVU(^SRZScQWeQ(WQ(JJJ
ñmh(èpi(ñîìi(nm(ñps(vi(ps(vr(s(jur(èm(kniu(nmo(ës(um(hr(mñs(jr(nsó(om(ump(nsv(ìi(s(èmvJ(Sur(
ènìs(or(ns(ìi(ñpr(us(lkë(wi(nsèP(rîs(ns(ìi(ns(ñpr(ur(ñm(ñl(îrp(nr(îs(hi(pr(hl(prP(ìip(kr(ws(ji(prL
l(vi(îr(jur(mw(ìr(énìi(nìr(nim(ñ(ómk(nm(ìi(kr(ês(hr(îrg(pr(l(vi(s(ièm(nmv(jèi(hip(vs(ni(èm(ìs(
ji(ìr(uîìr(ìl(l(ènìs(s(èrm(éhm(jl(C9)?el)BGF){>)PAG);9:l)BJe=9)bAC)G@)=F)GA)>@);9b)BCA:):9:;l)EF)9:>)Q@:)>GA>@);9b)AC)C9)A:)b@=l)G@)fA)>@l)bF=>r
Ab)bF)9:;)=e=>@Pl)A=)=@>=l)G@)Q@):F)G9)@=l)Y@e:@)=9A:)@bF):F)P9b=l)
hZ`l)shkJ(Uvr(ìl(íi(jui(ñm(vi(nl(hm(l(us(kl(ês(ns(ji(kr(ji(om(hm(um(vm(ëi(om(um(ps(hs(m(ñmL
ìr(us(ìik(nmo(nm(umo(ërn(pr(l(ñm(jîmu(nmì(îs(hi(pr(hl(psJ
R(kpl(oi(jhpr(niP(üuipè(s([psn(wr(lv(ñmk(pi(os(jhpmv((ñmk(pr(l(vi(ur(ìl(jr(vm(hi(vrL
hs(èl(ksj(èlp(jr(¨]l(spèP([pi(in(wr(lv(KIâç{(ãJ(^pik(vih(ns(pi(os(jhrp(vm(ëiP(rîs(ni(vm(prP(
kr(jr(kp(ës(lhup(⁄i(nl(jhplê(nl(hip(vs(nm(îm(os(ìl(¨ñpi(vr(^p(ísí(KIIâ{(ããJ(ür(kr(ji(pr(ks(
m(hip(vs(nm(îm(os(ìs(r(ns(vîìs(um(ìi(ñmk(ji(hs(hs(kr(Wiìén(ki(îs(pi(ês(èm(ìi(ji(vm(ol(mnr(ês(hs(
èrm(hip(vs(ns(nr(êrè(êi(hs(ps(opl(ñiJ(\(ñp(ul(opl(ñl(jñr(kr(ìl(pi(ês(èm(ìi(ji(èm(ps(jhi(jr(vm(l(
mk(pi(⁄i(nmì(mwîr(jhs(¨nñpJ(PFGB)J@)P@(l(îsn(ous(jhs(gsP(B9)ñ@C(l(pr(êl(nrp(jhulns)Xpl(ol(oplL
ñl(jr(ês(nìr(ur(ìl(pi(ês(èm(ìi(vi(nìr(ìl(nr(êi(nìi(rèm(ji(èm(ps(jhi(l(ni(èmì(kpl(omì(mwîr(jhs(
¨nñpJ(>F)R@:)l(îsn(ous(jhs(gsP(=bGFCC(l(pr(êl(nrp(jhulns)\(hpi(íl(opl(ñl(lîr(i(pi(ês(èm(ìi(ìi(
îr(èm(pr(l(vi(hs(êrè(s(lèm(îs(èm(ji(ni(ñm(ji(kl(ìi(jhplê(nm(nr(nìi(s(mk(pi(⁄i(ni(mwîr(jhsP(rîs(
ws(ñm(ji(km(ur(nìi(hr(èumo(nr(nìi(sñrè(km(ñps(ni(îm(wm(îìiv(pr(l(vi(ur(nìl(ñm(pl(èi(¨nñpJ(
GA:);@(l(îsn(ous(jhs(gsP(P@)PFGel)g9:)HFg(l(pr(êl(nrp(jhulP(kmè(l(êi(hup(hmì(opl(ñs(hip(vs(ns(
om(hm(um(kr(ni(ró(hi(ur(ìl(ws(îm(èr(èum(jhplê(nm(nr(nìiP(rîs(ji(êi(éíi(èm(ps(jhi(l(mk(pi(⁄i(nmì(
mwîr(jhs(ni(om(urn(nìi(¨nñpJ(gFGH(l(îsn(ous(jhs(gsP(BG9:>(l(pr(êl(nrp(jhul(¨Wr(hsmn(HMMK{(
KIä(L(HMKJ(al(orp(jèsP(hr(èm(⁄iP(ñs(éi(m(®nr(ñi(hm(jhs(èm(ìr(ñpm(sj(hs(êi(s(kum(jhpl(èmo(ës(umL
hr(vnm(osó(hip(vs(nr(èrm(îiè(ji(vr(mñ(éhio(ìi(s(èr(s(êîr(nm(ur(hip(vs(nm(îm(éèsó(js(jhi(vrf(
¨al(orp(jès(KIäã{(âãJ(Rs(olp(nm(ìi(kr(pi(ês(èm(ìi(ñps(ñr(kr(ìl(ñp(umì(opl(ñs(ìi(jl(hip(vs(nsP(
vi(⁄l(hsv(nr(kr(îìi(opr(ns(gr(ws(ji(vm(oîr(ñm(ul(ís(ñm(jîi(jur(èi(mui(opl(ñi(pi(êsJ((Wiìén(nr(
èpr(ìl(ñps(óur(hr(ki(û(ns(gs(ìl(èm(ìl(kr(ìi(aiê(èr(kr(jl(hip(vs(ns(mni(pi(ês(r(ês(ìi(hl(vr(êi(nìi(
ìi(ñm(hpiw(nm(ñm(ji(km(ur(hs(jhplê(nm(nr(nìiJ(Sum(jhr(nm(us(éhi(ws(íi(ñps(óur(íi(nm(s(l(mumv(
pr(klP(kmè(íi(ji(ñmk(hip(vs(nmv(ñm(jîmu(ns(pi(os(jhrp(ñmk(pr(l(vi(ur(hs(jr(vm(ìi(sê(ès(ur(psL
ìi(hih(mk(pi(⁄in(hi(vr(hs(èmv(ksj(èlp(jrJ
Uj(hpr(ës(ur(nìi(ji(r(jns(ur(nr(èmp(ñl(jl(mk(§Hç(pi(êi(ns(gi(s(kui(ènìs(oi(s(mwîr(jhs(
ièm(nm(vs(ìi(Ujr(èr(Qks(ëi(jr(¨Ug(órè(Qks(ij(oA)=>@)G9:;)cJA:);@)¨KIIH(s(oA):A);9:;)
cFG)BF)GA)>@)89)i@bebC@)¨KIIIP(s(mw(l(óur(hs(îm(ìi(lèlñ(nm(KII(pr(îs(ês(hsó(us(éiê(îr(nsó(oîrL
om(îrJ(eik(nr(mk(ur(ënsó(èr(prè(hi(ps(jhs(èr(us(éiê(îr(nsó(oîr(om(îr(ìi(jhi(s(l(ih(nm(s(pr(ëi(nr(
ñm(îs(ji(vs(ìrP(hi(jl(jus(oîr(om(îs(rnr(îs(s(pr(ns(l(mèus(pl(pi(êi(ns(gr(l(èm(ìs(vr(ji(ìr(uîìr(ìlJ(
[îr(om(îs(jl(rnr(îs(s(pr(ns(ñpi(jui(or(jr(ji(vrn(hsê(èmo(rjñiè(hrJ(\mêi(nm(ìi(kr(ji(jus(oîrL
om(îs(vm(ol(jup(jhr(hs(l(hps(opl(ñiJ(^p(ul(opl(ñl(jr(ês(nìr(ur(ìl(oîr(om(îs(èm(ìs(ji(ìr(uîìr(ìl(l(
nr(êi(nìl(jñi(gs(ûê(nmv(r(ñm(jîmu(ns(pi(os(jhrp(l(lëiv(jvs(jîlJ(Vm(jlP(kr(èîiP(oîr(om(îs(
èm(ìs(svr(ìl(hip(vs(nm(îm(éèm(nr(êi(nìiJ(Xpl(ol(opl(ñl(ês(ni(oîr(om(îs(èm(ìs(l(ñm(jîmu(nmv(
èmn(hiè(jhl(r(kp(ër(ur(ìl(sjhm(nr(êi(nìi(èm(ìi(svr(ìl(s(l(mñ(éhiv(in(oîi(jèmv(ìi(s(èlP(kmè(
§MI

ÄA>AWA)U9R9bR9
hpi(íl(opl(ñl(ês(ni(us(éiê(îr(ns(oîr(om(îs(èm(ìs(ñps(ñr(kr(ìl(jr(vm(mñ(éhiv(in(oîi(jèmv(ìi(s(èlJ(
Wi(èi(oîr(om(îi(ui(m(vr(ìi(hi(éèm(jup(jhr(hs(l(jr(vm(ìik(nl(èr(hi(om(ps(ìlJ(ür(èm(ji(pr(ks(m(
èmn(hs(nl(l(vlP(ñpik(îm(ëi(nr(èîr(js(û(èr(gs(ìr(us(éiê(îr(nsó(oîr(om(îr(l(hps(opl(ñiP(ni(vr(ñpi(gsL
nm(lhup(⁄i(ni(opr(ns(giJ
uO'[1'-¢',*'X1'`,*'`Z',1'4',1')-'3*')4'31'1§'Z+,*'/)1'aZ'/,Z'[*'Xû*
\(îs(hi(pr(hl(ps(nr(ñs(jr(nmì(ni(òmp(vrî(nsv(jhs(îmv(us(éiê(îr(ns(oîr(om(îs(ìr(uîìr(ìl(ji(ui(m(vr(
êi(jhmJ(ür(èm(ji(l(mumv(jîl(êr(ìl(pr(ks(m(ìik(nmì(pi(îr(hsu(nm(nm(umì(up(jhs(ñs(jr(nmo(hiè(jhrP(
hm(ìijh(hiè(jhr(nr(ñs(jr(nmo(ni(òmp(vrî(nsv(jhs(îmv(r(lñl(íi(nmv(ês(hr(m(gs(vr(mk(èm(ìsó(ji(
mêi(èl(ìi(wrp(mjnmu(nm(ñm(nr(ur(nìi(jhpl(èiP(gsîì(pr(kr(wsm(ìi(kr(ji(sj(ñs(hr(èm(ìs(us(éiê(îr(ns(
oîr(om(îs(ji(ìr(uîìr(ìl(l(mur(èumì(up(jhs(hiè(jhrJ(ürm(éhm(ìi(l(ñpih(ómk(nmv(mkiîì(èl(ñm(viL
nl(hmP(lmêi(nm(ìi(kr(ji(jus(mns(vm(ol(ñm(ki(îs(hs(l(hps(opl(ñiJ
uOlO'[J'õAö'Bo'pJ'xBo'xF'BJ'}F'ôJ'DA'ôo'nBôo'ô@'@'|po'öA'pô@'DzA'qJ'ñö'pFE'|o'zF'DBFn'pJ'
KA'xJ'DGoK
( ^pi(vr(om(pi(nr(ui(ki(nmì(ki(û(ns(gs(ìs(hip(vs(nr(wpmì(oîr(om(îr(l(èmp(ñl(jl(èm(ìs(svr(ìl(hipL
vs(nm(îm(éèm(nr(êi(nìi(ìi(s(l(ih(nm(vr(îsJ(Vl(ws(ji(vm(oîs(lup(jhs(hs(jîi(ki(ís(oîr(om(îs{
buy out(8(mh(èl(ñs(hs(ni(ês(ìi(ki(m(ns(gi(l(ûp(vs(s(hs(vi(ñpi(l(i(hs(èmn(hpm(îl(nrk(ûpL
vmv
m[J@e)>Ge)>F)fJ@)]:>G@BG@:@JF=@)9:)BFg@Gl)
;@:@GACCe)=9H@)g9>J)>J@)THP9:9=>GA>9Q@)>eB@=sn(
sell out)1)ñpmkrhs(lîmo(sîs(èmvñrnsìl
m`)g9CC)H9=bJ@)H9i{b9@=)A==Fb9A>@H)g9>J)=@CC9:;)F)9:)>J@)=@b>9F:)F:)
Ab?9F:=)A:H)>AR@FQ@G=sn
spin off 1)mjnmurhs(nirusjnl(mpornsrgsìl(mk(kiîr(ñmjhmìiíi(
¨ç@:@bAl)A):@g)HGG@BG@:@)BA9H)Fii)A:H)C@AQ@)>J@)bFPBA:esn
sell off)8(ñpmkrhs(pmwl(èmìr(ji(jîrwm(ñpmkrìi(sîs(èmìr(ìi(uîrjnsèl(niñmhpiwnr(
èrèm(ws(ji(uprhsm(kim(nmugr(èmìs(ìi(lîmëin(l(nìl
¨oA:e)iFF)Q@:>AC9=>=)FG)F>J@G)@ñ>@G:AC)9:Q@=>FG=)9:)FGH@G)
>F)=@b

cUöYZQWU([ZQ[SZU(\(ZUVY`QV\`U(Uõ(SaZQRVU(^SRZScQWeQ(WQ(JJJ
mTi>@G) eF9F:);F@=)@:>9AC)fFAGH)P@P@f@G=sn
burn out'í'wpm(ji(sjhpméshs(mk(ñpièmvipnmo(prkr
mwFAR@)F)CFA:=)A:H)=@>)J@)bFPBA:esn
[îromî(bring in)ji(ìruîìr(l(kur(nrêinìr{(
r(rñmjîshs
¨T>)>J9=)BF9:>l)>J@)>@AP)bA:)fG9:;)9:)A):@g)C@AH@G)g9>J)>J@)>9>C@)Fi)bJ9@i)
FB@GA>9:;)Fi{b@Gsn
w(ñmuiírhs(ñpmkrìl(ñpsuîrêinìiv(vléhipsìr
m_J9C@) >J@) iFACR=) AfF) =AC@=) A:H) =JFe)>J@)`:iA:>)FG;A:9kA>9F:)9=):F>)=AC@=)FG9@:>@Hsn
uOmO'[JõAöBopJ'xBoxFBJ'}FôJ'DA'ôonBôoô@'@'zFDBFnpFE'KAxJDGK@'Do'JDGJE'
|poöApôAE'}FôA'JEoô@'J'@'FzõGAE'ôA|J}@
[îr(om(îs(èm(ìs(ji(vm(ol(jup(jhr(hs(l(mul(opl(ñl(ìijl(mns(oîr(om(îs(èm(ìs(svr(ìl(sjhm(sîs(
jîsê(nm(nr(êi(nìi(èm(ìi(svr(ìl(s(l(mñ(éhiv(ìi(s(èlJ(Xpl(osv(pi(ês(vrP(hm(jl(mns(oîr(om(îs(
ês(ìi(nr(êi(nìi(ji(vm(ëi(ñpm(hl(vr(ês(hs(s(wi(ñm(ji(km(ur(nìr(jhplê(nmo(nr(nìrP(èrm(s(mns(
oîr(om(îs(èm(ìs(svr(ìl(ñmh(ñl(nm(sjhm(nr(êi(nìi(èrm(s(oîr(om(îs(l(mñ(éhiv(ìi(s(èlP(rîs(ji(êi(jhm(
èm(ps(jhi(l(ñm(jîmu(nmv(pi(os(jhplJ(Vr(èus(jlP(nr(ñps(vipP(oîr(om(îs(go up s(le vel off. [îrL
omî(;F)J@)BG9)b@=);F)J@):GF)WRF)Q9l):@)kA)BF)=C@):F=>P(rîs(or(ni(pih(èm(
nr(îr(s(vm(s(l(kpl(osv(mwîr(jhs(vrP(nr(ñps(vip(l(vi(ks(gs(ns(¨UCFFH)=F)BAl(shkJ(s(nr(ês(r(l(jhr(us(hs(ji(nr(mk(pi(⁄i(nmv(ns(umlJ(
\(èmp(ñl(jl(ji(murì(oîr(omî(ìr(uîìr(l(jîi(ki(ímì(pi(êi(ns(gs{(`i)OG9)P@)FG);A):9)kA)>9)F:=)HF:I>)
G@)iJA>)PF)P@:)>J@)9G)GA)>@)Fi);GFg>J)g9CC)H@b)C9):@l)A:Hl)@Q@:)>9)F):AC)Q9)>A)C9>e)g9CC)C@)Q@C)Fiis)Xr(èîiP(nr(êi(nìi(mumo(oîr(om(îr(r(jnm(ur(nm(ìi(nr(
vi(hr(òm(psê(nmv(ñpi(nm(jl(nr(êi(nìr(oîr(om(îr(l(mñ(éiv(ìi(s(èl(8(r(kp(ër(hs(ji(nr(mk(piL
⁄i(nmì(us(js(nsP(èrm(l(ñps(vi(pl(Ti)>@G)bC9P)f9:;)=>@)@BCel)>J@)BA>J)C@)Q@C)C@H)Fiis)[îr(omî(
411

ÄA>AWA)U9R9bR9
cash in on nr(ês( sj(èm(ps(jhs(hs(ñm(umîì(nl(js(hl(r(gs(ìl(kr(ws(ji(r(pr(ksm(nm(urgP(rîs(vm(ëi(
kr(svr(s(vi(hr(òm(psê(nm(nr(êi(nìi(s(ul(ís(èm(psjh(s(ni(êi(orJ(cp(îm(êi(jhm(musv(oîr(om(îmv(
ji(mnr(êr(ur(kr(ji(km(km(wsh(èr(km(éîm(nr(ni(ñpr(us(êrn(nr(êsn{([JF)=@)gJF)=@)bFP)BA):9)@=)
JA)Q@)G@)gAG)H@H)>J@P)g9>J)=A:)>9AC)iFG)>)BG@)PA)>J@)
iG=)Fi)>J@)9G)CA)fFGs
[îr(om(îs(èm(ìs(jl(s(l(ih(nm(òpi(èuinh(ns(l(ñm(jîmu(nmv(ìi(s(èlP(rîs(ji(èm(ps(jhi(s(urn(
nìi(or(jl(nr(ñps(vip(V3'B9'AwAP-'T:P'TA>[-'M:O':Mk
U@:) À) ä@GGeI=) ;9Q@=) AgAe) às°) B@Gb@:>) Fi) 9>=) BG@r>Añ) @AG:9:;) 9:) >JG@@)
gAe=Çsss
[J@)fGF>J@G=)=FCH)A)É°)B@Gb@:>)bJJ@)bFPBA:e)A:H)>J@:)fF)9>)
fAbRs
(`ICC)=JFg)eFF)B)@PA>9=A>9F:s
[J@e)AG@):F>)G@=FCQ9:;)>J@9G)Fg:)BGFfC@PÜ)>J@e)@ñB@b>)=FP@fFHe)iGFP)
F=9H@)>F)step in.
cC9@:>=)HF):F>)come back.
\(nièmîsèm(piêinsgr(vmol(ji(lmêshs(mnhmîméèi(vihròmpi{
_J@:)=AC@=)OA[9'677-)9>)G@Ab>=s
T:H)=>G@==)A:H);FFH))H@b9=9F:)PAR9:;)HF:I>)get along.
^m(jiw(nl(ñmk(opl(ñl(ês(ni(oîr(om(îs(èm(ìs(ñpi(vr(om(pi(nr(ui(ki(nmì(ki(û(ns(gs(ìs(ni(vr(ìl(
hip(vs(nm(îm(éèm(nr(êi(nìiP(rîs(èr(èm(ji(ui(m(vr(êi(jhm(ìr(uîìr(ìl(l(ñm(jîmu(nmv(èmn(hiè(jhl(
s£sîs(ñm(éhm(èm(îm(gs(pr(ìl(jr(svi(ns(gr(vr(êi(jhsv(l(ñm(jîmu(nmv(pi(os(jhplP(vm(ol(ji(jup(jhr(hs(
l(oîr(om(îi(èm(ìs(jñr(kr(ìl(l(ñm(jîmu(ns(pi(os(jhrpJ(Wr(ñps(vip{(
_@) P) AC=F) CFFR) >F) =@@) gJ@>J@G) >J@) C@AH@G=J9B) 9=) 9:9>9A>9:;) bJA>l)@Q@:>9:;n)9:)>@)G@=>=s)[îr(omî(ca rry out)ìrL
uîìr(ji(l(svi(ns(gi(BCA:=l)>A=R=l)H@)b9)=9)F:=l)G@)=BF:)=9)f9)C9)>9)@=l)9P)BC@)P@:)>A)>9F:l)iFGPl)
rîs(murì(oîr(omî(vm(ëi(kr(ji(ìr(us(s(l(svi(ns(gi(èrm(éhm(jl(A>)>AbRl)>JG@)A>l)BGF)P9)=@s
§KH

cUöYZQWU([ZQ[SZU(\(ZUVY`QV\`U(Uõ(SaZQRVU(^SRZScQWeQ(WQ(JJJ
OuO'`Bo'xF'BJ'}F'ôJ'pA'zKJ'zo'Ho'ô@'zF'DBFn'pFE'KA'xJ'DGK@'
\( èmp(ñl(jl( ji( ìr(uîìr( s( ui(îsè( wpmì( oîr(om(îr( l( pi(êi(ns(gr(vr( èm(ìi( ni(kum(jvs(jîi(nm(
ñps(ñpr(kr(ìl(mñ(éhiv(in(oîi(jèmv(ìi(s(èlP(r(lñm(hpi(wîìi(ni(jl(jr(gs(îìiv(kr(ji(hi(m(psì(jèm(
mw(ìr(énìi(nìi(lês(ns(ìr(jns(ìsvJ(Wr(ñps(vip{
OAGA:F9A)A:H)=A;@)set in.
`i)eF)A)H)x6AO4'A56;V)F:)>FB)Fi)>J@)gA>@Gl)ABB@AG9:;)bACPl)
f)J@)gA>@G)9>=)i@@>)AG@)BAHHC9:;)A=)iA=>)A=)>J@e)bA:s
aF)B@FBC@)cry outl)ê_@):@@H)A)>@AP)BCAe@GsI
_J@:)eFAR@)eFF)>J@)b9GbJ@P)f@bAJ@e)g9CC)pay)eFJ)picking up)>J@)BJF:@)A:H)=Ae9:;sss
`i)eFJ@e)gF:I>)C9=>@:)>F)eFJ@){G=>)JACi)
JF)gA:>)A:eF:@)messing up)>J@9G)BGFH9F:)=bJ@HA)R@)FQ@G(svr(l(èmp(ñl(jl(nr(êi(nìi(kpl(or(ês(ìi(mk(
mnmo(èm(ìi(svr(l(mñ(éhiv(in(oîi(jèmv(ìi(s(èlJ(õr(ns(vîìs(um(ìiP(vi(⁄l(hsvP(kr(ji(oîr(omî(
P@==)

ÄA>AWA)U9R9bR9
Rîi(ki(ñrp(hs(èl(îi(9:l)Fii)s(fAbRl)HFg:l)AgAel)F:l)FQ@G)s(>JGF))J@Gs
)Wrì(òpi(èuinh(ns(ìs(mjnmu(ns(oîr(om(îs(jlP(ñrèP(;F)(èm(ìs(ji(ìr(uîìr(l(êrè(ã(pr(îs(ês(hsó(
ñrp(hs(èl(îrP(fG9:;l);@>l)bF)P@)(èm(ìs(ji(ìr(uîìr(ìl(l(å(pr(îs(ês(hsó(ñrp(hs(èl(îrP(kmè(ji(l(§(
pr(îs(ês(hi(ñrp(hs(èl(îi)ìr(uîìr(ìl(oîr(om(îs(fG@)ARl)bA)GGel);9)Q@l)Bl)>A)R@l)=@>J
(Sus(ñm(kr(gs(ni(pr(îs(èl(ìl(ji(mk(ñm(kr(hr(èr(km(ws(ìi(nsó(l(jîsê(nsv(jhl(ks(ìr(vr(èm(ìi(jl(
ñpm(l(êr(ur(îi(us(éiê(îr(ni(oîr(om(îi(l(mñ(éhiv(in(oîi(jèmv(ìi(s(èlP(éhm(s(ni(s(ni(nr(⁄l(ìi(j(
mw(s(pmv(nr(hm(krP(èr(èm(ìi(uií(pi(êi(nmP(nrì(ui(ís(wpmì(oîr(om(îr(l(mumv(èmp(ñl(jl(ni(vr(
nr(êi(nìi(jñi(gs(ûê(nm(r(ñm(jîmu(ns(pi(os(jhrpJ(
O'§X*'¢*û'1/')3*'ó1'[*'Xû*'§*'X*'/)*'[4'-X'`,-'/{Z`'û-'§1'{*
ür(kr(jl(l(ñs(hr(nìl(us(éiê(îr(ns(oîr(om(îsP(ñpi(oîi(kmv(km(jr(kr(énìsó(lkë(wi(ns(èr(s(mwîrL
jhs(ñm(jîm(ur(nìr(îr(èm(ji(lmêr(ur(kr(jur(èm(nr(pik(nm(s(kr(nìi(lkë(wi(ns(èr(jr(kp(ës(jui(ui(ís(
wpmì(us(éiê(îr(nsó(oîr(om(îrP(jui(us(éi(ui(ëws(l(jui(us(éi(îiè(gs(ìrJ(Xr(èîiP(rlhm(ps(jl(jui(jns(
jui(ui(íio(nr(êr(ìr(us(éiê(îr(nsó(oîr(om(îr(l(ñm(jîmu(nmv(ìi(s(èlJ(
cr(ënm(ìi(mk(pi(ks(hs(èm(ìs(jl(hm(us(éiê(îr(ns(oîr(om(îs(èm(ìi(lêi(nsè(hpi(wr(kr(ljum(ìsP(s(
èr(èum(hm(nr(nìi(hpi(wr(kr(wl(kiP(pi(giñ(hsu(nm(sîs(ñpm(klè(hsu(nmJ(ei(krn(mk(nrì(ur(ënsìsó(
èps(hi(ps(ìl(vr(r(mkr(wsp(um(èr(wl(îr(pr(èm(ìs(íi(ji(mw(pr(⁄s(ur(hs(nr(êr(jl(ìi(jhi(òpi(èuinh(nmjh(
pi(ês(¨ôgTrphóï(KIIM{(ãIJ(Swsê(nm(ji(ês(ns(kr(hip(vs(ns(ns(jl(nrì(òpi(èuinh(ns(ìi(pi(ês(l(
hiè(jhlJ(ôi(⁄l(hsvP(Wiìén(ñs(éi(kr(jl(km(jr(kr(énìi(jhl(ks(ìi(loîru(nmv(ws(îi(r(jnm(ur(ni(nr(
vr(îmv(èmp(ñl(jl(¨Wr(hsmn(HMMK{(HMMP(HMKJ(rè(s(rèm(pi(lî(hr(hs(èmp(ñl(jni(îsn(ous(jhs(èi(
ñm(hup(ki(km(jr(kr(énìi(pi(lî(hr(hiP(hpi(wr(svr(hs(l(us(kl(kr(jl(hip(vs(ns(nrì(êi(éíi(èîìlê(ni(
pi(ês(r(pr(l(vi(ur(nìi(hiè(jhrJ
^m(vi(nl(hs(pi(lî(hr(hs(èm(ìs(om(um(pi(m(òpi(èuinh(nm(jhs(ñrp(hs(èl(îrP(mk(nm(jnm(mjnmu(nsó(
oîr(om(îrP(vm(ol(ws(hs(mk(ui(îs(èi(ur(ënm(jhs(lèm(îs(èm(ji(km(èr(ëi(kr(nr(êi(nìi(ñrp(hs(èl(îi(
ñpm(sp(nsó(us(éiê(îr(nsó(oîr(om(îr(vm(ëi(lhs(gr(hs(nr(nìs(óm(um(îrè(éi(ljur(ìr(nìiJ(
( [m(um(pi(ís(m(ni(òmp(vrî(nmv(jhs(îl(l(rèr(kiv(jèmì(îs(hi(pr(hl(psP(Vrp(nip(lmêr(ur(kr(ws(
ni(òmp(vrî(ns(hiè(jhm(us(vm(oîs(mk(îsê(nm(kr(ñm(jîl(ëi(jhl(kin(hs(vr(mjnmu(nsó(jhl(ks(ìr(èm(ìs(
lêi(in(oîi(jès(ìi(sè(èrm(vm(kiî(r(ñs(jr(nìi(nr(lê(nsó(pr(km(ur(kmè(ni(muîr(kr(ìl(òmp(vrîL
nsv(jhs(îmv(¨Vlp(nip(KIIä{(âJ(Wi(vm(ëi(ji(hup(ks(hs(kr(ni(òmp(vrî(ns(hiè(jhm(us(l(nr(jhr(us(
jhpr(nmo(ñm(jîmu(nmo(ìi(s(èr(hpi(wr(kr(ñm(jîl(ëi(èrm(vm(kiîP(rîs(ìi(nìs(óm(um(pr(l(vi(ur(nìi(
js(olp(nm(mk(ui(îs(èmo(nr(êr(ìrJ(ür(èm(ji(ljñi(énr(nr(jhr(ur(jhpr(nmo(ìi(s(èr(r(jns(ur(ñpi(
jui(or(nr(hrê(nm(lhup(⁄i(nsv(ñm(hpi(wr(vr(lêi(ns(èrP(nr(mjnm(ul(s(îm(ëi(nsó(pi(lî(hr(hr(êsL
ns(ji(kr(ws(l(prk(nr(ljur(ìr(nìl(hip(vs(nm(îm(os(ìi(hpi(wr(îm(nr(jhr(us(hs(s(prk(nr(ljur(ìr(nìl(
mñ(éhio(ìi(s(èrP(hm(ìijh(mnsó(nìi(om(usó(rjñi(èr(hr(èm(ìs(íi(lêi(ns(gs(vr(ws(hs(ñm(hpiw(ns(l(wlL
klí(nm(jhsJ
414

cUöYZQWU([ZQ[SZU(\(ZUVY`QV\`U(Uõ(SaZQRVU(^SRZScQWeQ(WQ(JJJ
±O'§*'{,û4'¢*{
' Qnr(îs(r(èmp(ñl(jr(s(kui(ènìs(oi(s(mwîr(jhs(ñm(jîm(ur(nìr(ñm(èr(r(îr(ìi(kr(ji(l(jr(upiL
vi(nmì(îs(hi(pr(hl(ps(ìr(uîìr(pi(îr(hsu(nm(ui(îsè(wpmì(us(éiê(îr(nsó(oîr(om(îrP(éhm(pr(ns(ìi(ns(ìi(wsm(
jîl(êrìJ(Sum(ìi(ñm(jîi(ks(gr(ìik(nmo(nm(umo(nr(ês(nr(mwpr(ír(nìr(ês(hr(m(gs(vr(l(ñs(jr(nsv(hièL
jhm(us(vr(s(mwîr(jhs(ñm(jîm(ur(nìrJ(Rui(êi(éír(ñm(ìr(ur(ènìs(or(s(pr(km(ur(l(mwîr(jhs(ñm(jîmL
ur(nìr(nr(ñs(jr(nsó(ni(òmp(vrî(nsv(jhs(îmv(lèr(l(ìi(kr(ìi(nim(ñ(ómk(nm(km(wpm(ñm(nr(ur(nìi(
mñ(éhio(in(oîi(jèmo(ìi(s(èr(l(ñm(jîmu(nmv(jui(hlJ
Qnr(îs(r(ìi(ñm(èr(r(îr(s(èm(ìs(jl(nrì(òpi(èuinh(ns(ìs(us(éiê(îr(ns(oîr(om(îsP(mjnmu(ns(oîr(omL
îs(s(ñrp(hs(èl(îiP(éhm(vm(ëi(ws(hs(nr(êrì(nm(ñps(s(wm(pl(um(èr(wl(îr(pr(l(nr(jhr(us(in(oîi(jèmo(
ñm(jîmu(nmo(ìi(s(èrP(rîs(hpi(wr(sj(hr(ís(kr(lêi(jhr(îmjh(îiè(ji(vi(ns(ìi(ìi(ks(ns(èps(hi(ps(ìlv(r(
mkr(wsp(vr(hi(ps(ìr(îr(èm(ìs(íi(ji(èm(ps(jhs(hs(l(nr(jhr(usJ(
õnr(êrì(nm(ìi(nr(oîr(js(hs(kr(us(éiê(îr(ns(oîr(om(îs(r(jîl(ël(ìl(ui(íl(ñr(ënìl(l(nr(jhr(us(nr(
ñm(jîmu(nsv(éèm(îr(vr(s(òr(èlî(hi(hs(vrJ(Sum(sj(hpr(ës(ur(nìi(lèr(r(îm(ìi(nr(ñm(ìr(ul(èm(ìl(ws(
hpi(wr(îm(kr(îìi(s(l(êr(ur(hs(s(hm(l(km(vi(nl(pr(êl(nrp(jèi(îsn(ous(jhs(èiP(ìip(ws(pi(lî(hr(hs(ws(îs(mk(
èm(ps(jhs(èr(èm(îiè(js(èm(opr(û(vrP(hr(èm(s(nr(jhru(ns(gs(vrJ((
,1)-3*)43*
XsoninP(RJ(¨lpJ¨HMMMJ(8F:;PA:)U9F:AGes(drpîmJ)^irpjmn(YklgrL
hsmn(ZsvshikJ(
üpsjhrîP(XJ(¨KIIIJ(]:b9RCFB@H9E=R9)G@X:9R)PFH@G:@)C9:;Q9=>9R@s)aimoprkJ(WmîshJ
ôgTrphóïP(ôJ(¨KIIMJ(VFbAfe)jGAPPAG)Fi)]:;C9=Js)drpîmJ(ZmnovrnJ
RipoirnhP(dJP(SfRóirP(RP(©rhhP(XJP(©ikoimphóP(ZJ(¨lpJ¨HMMåJ(oAbP9CCA:)OJGA=AC)V@Gf=)
OC9F:AGes)drpîmJ(^irpjmn(YklgrL
hsmn(ZsvshikJ(
RrîijP(eJ(ôJ(¨KIIMJ(j@:G@)T:ACe=9=s)TrvwpskoiP(Wi(†mpèP(ôiîwmlpniP(ôrkpskP(Trñi(
VmnP(RsnorñmpiP(Rrm(^rlîmJ(Trvwpskoi(\nsuipjshï(^pijjJ
VlpnipP(`J(¨KIIäJ(`iosjhip(sn(Qgrkivsg(©pshsnoJ(
óhhñ{££niñhlniJjñrgiñmphjJgmv£ımpkj£piosjhipJóhvî(
§Kå

ÄA>AWA)U9R9bR9
H797G7#Y;I;OI;
ô\ZVUL©S`X(cY`aR(UW(VdY(TSWVYô^S`Q`†((
YW[ZURd(a\RUWYRR(ZUVY`QV\`Y
(
a

YD;?#.KB7>;O7#6;9;?#V7DB;BBD#.#H=>=H7#K97;?
4,Z`*'1X/)340-X)*,X-'0Z)1[*Y1û-''
4'4¢-Xû4'/)3*XZ`'û-§1{*'/)34{-
\êi(nìi(jhpr(nmo(ìi(s(èr(jui(êi(éíi(ìi(ñm(ui(r(nm(jr(èmn(èpih(nsv(gs(îìi(us(vr(pr(ks(ês(ìsó(mjhur(piL
nìr(ji(ìi(sè(ljur(ìrP(r(rñîs(èr(hsu(nr(upik(nmjh(ljum(ìi(nmo(nr(nìr(ñm(èr(r(hiîì(ìi(ñpm(gi(jr(lêi(nìrJ(
Surì(prk(wr(s(pr(ji(nr(sj(hpr(ës(ur(nìl(èm(ìi(ìi(jñm(pm(ui(ki(nm(nr(ñm(îr(ns(gs(vr(kui(opl(ñi(¨pr(îs(êsL
hmo(ñpik(nr(nìr(sn(hi(su(nmo(èlp(jr(ñm(jîmu(nmo(shr(îs(ìrn(jèmo(ìi(s(èr(s(svr(r(gsîì(kr(lhup(ks(lîmL
ol(sn(jhpl(vin(hrî(ni(vm(hs(ur(gs(ìi(l(lêi(nìl(jhpr(nmo(ìi(s(èr(jhpl(èiJ(Un(jhpl(vin(hrî(nr(vm(hs(ur(gs(ìr(ìi(
êijh(ñm(èpi(hrê(ñm(îr(ns(èr(èm(ìs(svr(ìl(hrê(nm(mk(pi(⁄i(ns(pi(lî(hrh(èm(ìs(hpi(wr(kr(mjhur(piJ(Uj(ñs(hs(urL
nìr(jl(jñpm(ui(ki(nr(l(jèîr(kl(jr(õr(ìik(nsê(èsv(iupmñ(jèsv(mèus(pmv(m(ñm(nr(ur(nìl(ìi(s(èrP(ñpi(
s(ñm(jîi(sn(hi(su(nmo(èlp(jr(ìi(s(èr(èm(ìs(ìi(mw(l(óur(hrm(s(wm(pr(urè(l(Uhr(îs(ìsJ
YCE

§Kä
UFEA:A)hAH@:RFQ9û)r)aCAQ9bA)o9>9û)OAFC9CCF)r)Ä@Q@:A)a>AERFQ9û
mO'1X'/)34'0-X')*,'X*'0Z')1'[*'Y1'û*'4'4¢-'Xû4'/)3*'XZ`'û-'§1'{*
ôm(hs(us(jl(mp(orn(jès(s(ñjs(óm(îm(éès(ês(ns(m(gs(èm(ìs(ñm(èpi(íl(sîs(ljvi(pr(ur(ìl(ñm(nr(ér(nìi(
êm(ui(èrP(s(hm(èr(èm(nìi(om(ui(ñm(jhlñ(èi(hr(èm(s(nìi(om(um(mñr(ër(nìiP(lêi(nìi(s(vs(éîìi(nìiJ(
Un(jhpl(vin(hrî(nr(vm(hs(ur(gs(ìr(hi(vi(îìs(ji(nr(ñm(ui(r(nm(jhs(l(mk(nm(jl(s(vi(⁄l(mk(pi(⁄i(nmo(
km(or(⁄r(ìr(sîs(js(hl(r(gs(ìi(¢(s(kpl(osó(km(or(⁄r(ìr(†K8nJ(õr(ñpr(umP(hrì(hsñ(mêi(ès(ur(nìr(mk(prL
ër(ur(èm(îs(èm(vm(ol(ís(km(or(⁄rì(¢(èrm(èm(ps(jhrn(sn(jhpl(vinh(vm(ëi(sr(ur(hs(sîs(jñpi(ês(hs(
kpl(oi(km(or(⁄r(ìi(†(èm(ìs(nr(jhr(ìl(nr(hi(vi(îìl(ñm(hs(gr(nìr(¨`ói(sn(wipoP(HMM§{KKçJ(ür(kr(
om(um(ps(vm(m(lêi(nìl(ìi(s(èrP(ui(m(vr(êi(jhm(ñm(ìrv(sn(jhpl(vin(hrî(ni(vm(hs(ur(gs(ìi(ñm(uiL
l(ìi(vm(jr(lêi(nìiv(jhpr(nmo(ìi(s(èr(jhpl(èiP(hìJ(mjñm(jm(wîìr(ur(nìiv(kr(jum(ìr(jhplê(nr(
nr(nìr(s(mk(pi(⁄i(ni(mwîr(jhs(ñpm(és(ps(vm(sîs(ñps(vi(ns(vm(èm(ps(jhi(ís(ji(jhpr(nsv(ìi(s(èmv(
jhpl(èiJ(\(hmv(jîl(êr(ìlP(lêi(nìi(ìi(s(èr(ìi(jhi(jpik(jhum(èm(ìsv(ji(ñm(jhs(ëi(mk(pi(⁄i(ns(gsîìJ(
^ps(îs(èmv( lêi(nìr( ìi(s(èr( vm(ëi(vm( lmês(hs( pr(îs(ês(hi( up(jhi( vm(hs(ur(gs(ìi( ¨üi(îsP(
HMMå{çç({(
• :;:'O8A'y;eA'z53c';A{'X6'O3'BA'>3'eA'L(èmk(mui(up(jhi(vm(hs(ur(gs(ìi(ni(íi(km(ís(
km(ñpm(vi(nr(l(vm(hs(us(jr(nm(jhs(r(lêi(nìi(wi(mw(s(pr(nr(hm(kr(îs(ìi(gsîì(
ñm(jhso(nlh(sîs(ni(¨jhl(kin(hs(èm(ìs(um(îi(kr(lêi(ìi(sè(ni(íi(ñpi(jhr(hs(kr(or(lêi(
ns(èr(kr(ñm(îm(ëi(sj(ñsh(r(èm(ìs(jl(ji(ñps(ñpi(vr(îs
• èmk( 3;'O9'V8A'O3B';9' X6'O3'BA'>3'e9( ñm(îr(ns(gs( jl( mwsê(nm( r(sn(hi(pi(jm(ur(ns( r(
lêi(nìi(jhpr(nmo(ìi(s(èr(èr(èm(ws(ji(éhm(ñpi(lèîm(ñs(îs(l(jpi(ks(nl(l(èm(ìmì(ji(
om(um(ps(gs(îìr(ns(jhpr(ns(ìi(sèæ(jhm(orP(mur(èm(vm(hs(us(jr(ns(jhl(kin(hs(svr(ìl(s(
ui(îs(èl(jèîm(nmjh(èr(lñm(nr(ur(nìl(èlî(hl(pi(ês(ìs(ìi(sè(lêi
• èmk(in stru men tal ne(vm(hs(ur(gs(ìi(ñm(îr(ns(gs(jl(vm(hs(us(jr(ns(kr(lêi(jhpr(ns(
ìi(sè(èr(èm(ws(ñm(jhs(oîs(mk(pi(⁄i(ni(gs(îìi(ui(sîs(ñpi(ur(s(éîs(ñpi(ñpi(èiJ(^pi(gsL
nm(om(um(pi(ísP(vm(ëi(vm(lmês(hs(kui(up(jhi(sn(jhpl(vin(hrî(ni(vm(hs(ur(gs(ìiP(
FB)W>GAC):9)QA)b9)E

\ZS[Q(UWRV`\ôYWVQZWY(ôSVUcQTUeY(\(\YWe\(RV`QWS[(eYõUüQ(JJJ
ci(m(vr(ìi(ur(ënm(lmês(hs(s(èm(ìr(up(jhr(vm(hs(ur(gs(ìi(ìi(ìr(êr(¨cs(îr(ps(nsP(HMMM{âãJ(Urèm(
vm(hs(ur(gs(ìr(kr(ji(ñpm(nr(⁄i(sîs(ñpm(vi(ns(ñm(jrm(vm(ëi(ws(hs(ui(íio(sn(hi(s(hi(hrP(mur(up(jhr(
vm(hs(ur(gs(ìi(ìi(mwsê(nm(èprh(èm(pmê(ns(ìr(l(mk(nm(jl(nr(vm(hs(ur(gs(ìl(ñm(îr(ns(èr(kr(ñm(kso(ni(
ns(um(jumo(ñm(nr(ur(nìr(ìi(s(èr(s(nr(kl(ëi(upi(vi(ji(ñm(jui(hs(nìi(vl(¨cs(îr(ps(nsP(HMMM{âåJ
uO'û-'§1{'/)34'{-k'{*'3*{')-'31'/)1'{-Ä'0-')Z'.-''
1'X*'/)*['X-')-b'X1'{-'
ei(sè(jhpl(èi(vm(ëi(vm(ki(û(ns(jr(hs(èrm(ìi(sè(èm(ìs(èm(ps(jhi(jhplê(nìr(gs(l(jum(ìmì(èmL
vl(ns(èr(gs(ìs(èr(èm(ws(s(wi(oîs(sîs(l(ñmh(ñl(nm(jhs(lvr(nìs(îs(us(éi(jhpl(èr(nr(êi(nìr(l(vi(⁄lL
jmw(nmì(èm(vl(ns(èr(gs(ìsJ(^m(pik(èm(vl(ns(èr(gsì(jèi(upik(nm(jhs(ìi(sè(jhpl(èi(svr(s(jum(ìi(jmL
gs(ìrî(ni(èr(prè(hi(ps(jhs(èiP(hìJ(ui(m(vr(êi(jhm(skin(hs(û(èl(ìi(ñps(ñrk(ns(èi(mk(pi(⁄i(ni(jm(gs(ìrî(ni(
opl(ñi(¨H9)=bF)

UFEA:A)hAH@:RFQ9û)r)aCAQ9bA)o9>9û)OAFC9CCF)r)Ä@Q@:A)a>AERFQ9û
nìr(s(nr(jhr(ui(ìi(s(èr(jhpl(èi(lñpr(um(jl(èmv(ñi(hin(gs(ìi(ñm(îr(ns(èr(èm(ìsP(rèm(ñm(ji(kl(ìl(
iîi(vin(hrp(ni(ìi(sê(èi(èmv(ñi(hin(gs(ìiP(vm(ol(lêi(jhum(ur(hs(l(nr(jhr(us(wl(kl(ís(kr(ñpi(krL
urê(ìi(s(èr(êi(jhm(ns(ìi(s(jhpl(èi(nr(èm(ìl(ji(ìi(sè(ljvi(pr(urJ(Rhm(orP(èr(kr(ìi(piê(m(nrL
jhr(us(jhplê(nmo(ìi(s(èrP(ni(vm(ëi(ji(ñm(ís(mk(èîr(jsê(ni(ñpi(vs(ji(nr(jhru(nsè(nrP(lêi(nsè(
ni(nr¥'¨arî(wm(nsP(HMMMJâIJ(õr(ñpr(umP(js(hl(r(gs(ìr(l(lês(m(ns(gs(ìi(jèm(pm(pru(nm(ñpru(nr(
L(nr(jhru(nsè(ñm(nr(ìi(jhpr(ns(ìi(sèP(lêi(nsè(ñm(nr(ìi(jum(ìl(jhplê(nl(mwîrjh(¨ièm(nm(vs(ìlP(
ñpr(umP(vi(ks(gs(nlP(rp(ós(hiè(hl(plPshkJJ(^m(îr(ns(gs(èm(ìs(ji(mk(îl(êl(ìl(kr(ljr(up(ér(ur(ìl(jum(ìr(
nr(nìr(s(jhpr(nmo(ìi(s(èr(jhpl(èi(ui(m(vr(êi(jhm(jl(mk(pr(jîs(ñm(îr(ns(gsP(jup(éi(nmo(mwprL
m(ur(nìr(s(rlhm(nmv(ns(l(km(nm(éi(nìl(mk(îl(èrP(mwsê(nm(ìr(èm(vm(hs(us(jr(ns(s(us(jm(èmo(ns(umr(
jr(vm(ñm(éhm(ur(nìrP(mp(ìin(hs(jr(ns(nr(wl(klí(nmjh(¨arî(wm(nsP(HMMM{KåJ
Rhm(orP(rèm(r(ni(vr(ps(vm(ñm(hin(gs(ìrî(ni(mñr(jnm(jhs(l(pr(kl(èrm(éhm(ìi(jhpró(ñm(îrL
ns(èr( mk( ni(r(us(jnm(jhs( sîs( jl(ìi(hl( ñpi(kr(ur(êrP( ñm(jhm(ìi( jus( ñpik(l(jîm(us( r( jhur(pr(nìi(
jr(prk(nsê(èmo(rv(ws(ìin(hr(pr(kr(l(èm(vi(s(nr(jhru(nsè(s(lêi(nsè(svr(ìl(ñps(îs(èl(kr(ñm(ki(îi(
jum(ìi(nr(nìi(jr(jl(ñpmh(nmv¥(jhpr(nmvJ(
úO'{43/'aZ'/,Z['XZ`'1)*',1'û*X'/{Z`'û-'§1'{*k''
{ZX'Y-a'Y1'û*'1'-[*',4'*'Y1'û*
\(mèus(pl(ñpm(ìiè(hr(Swl(èr(s(hió(nsê(èr(ñm(vmí(ìru(nsv(lñpr(ur(vr(jr(arî(èr(nr(l(
mwîr(jhs(sn(hip(nr(gs(m(nr(îs(r(gs(ìi(vr(îsó(s(jpik(nìsó(ñpik(l(i(írø(wsm(ìi(ñpik(us(⁄in(sn(hi(sL
urn(èlpj(shr(îs(ìrn(jèmo(ñm(jîmu(nmo(ìi(s(èr(nr(vi(nìin(r(ñm(jîi(ns(vr(l(kp(ëru(nmì(rk(vsL
ns(jhpr(gs(ìs(r(ês(ìl(mp(or(ns(r(gs(ìl(l(Rp(ws(ìs(ìi(ws(îm(r(kl(ëi(nm(Xpl(éhum(^A:)>@)TC9;)J9)@)G9(
s(Ws(ér 1 J(ülpj(ìi(hpr(ìrm(KM(ni(ki(îìrP(KM(êr(jm(ur(ni(kiîì(nm(¨ñm(kur(êr(jr(kniu(nmJ(\(
pi(r(îs(r(gs(ìs(èlp(jr(lêi(jhum(ur(îm(ìi(êi(hs(ps(ñpi(kr(ur(êr(shr(îs(ìrn(jèmo(ìi(s(èrJ(^m(îr(ns(gs(èlpL
jr(ws(îs(jl(ñm(ki(îìi(ns(l(kui(opl(ñi(nr(mjnm(ul(ñpih(ómk(nmo(ñm(nr(ur(nìr(shr(îs(ìrn(jèmo(
ìi(s(èrP(nr(ns(um(aK(s(ns(um(QH(l(jèîr(kl(jr(Yupmñ(jèsv(mèus(pmv(lêi(nìr(ìi(s(èr(s(nr(
mjnm(ul(hi(jhm(ur(^ZU(XQ(gip(hs(û(èr(gs(ìiJ(Vi(jhs(pr(nìi(ñps(ìr(uîìi(nsó(èrn(ks(kr(hr(mwr(uîìi(nm(
ìi(nr(ñm(êih(èl(èlp(jr(èr(èm(ws(ji(èrn(ks(kr(hs(jup(jhr(îs(l(mk(om(ur(pr(ìl(íl(opl(ñlJ(Wr(èmn(
sn(hi(su(nmo(èlp(jr(wsm(ìi(ñpik(us(⁄in(s(jhl(ksì(jès(wm(pr(urè(ñm(îr(ns(èr(l(Uhr(îs(ìs(éhm(ìi(jurL
èr(èm(km(ñps(ni(îm(lêup(éís(ur(nìl(s(ñps(vi(ns(jhi(êi(nsó(nr(nìrP(r(sj(ómk(ñpm(ìiè(hr(s(vi(⁄l(
mjhr(îmo(wsm(ìi(s(prk(jusó(ñm(îr(ns(èr(èlp(jr(nr(hi(vl(ws(îr(hi(prî(ni(ièm(nmv(jèi(jr(prk(nìi(
Uhr(îs(ìi(s(Rp(ws(ìiP(nr(shr(îs(ìrn(jèmv(ìi(s(èlJ(\(mèus(pl(èlp(jr(ñm(îr(ns(gs(jl(ji(ñps(ñpi(vr(îs(
K(
\(mèus(pl(ñpm(ìiè(hr(¥Swl(èr(s(hió(nsê(èr(ñm(vmí(ìru(nsv(lñpr(ur(vr(jr(arî(èr(nr(l(mwîr(jhs(sn(hip(nr(gs(mL
nr(îs(r(gs(ìi(vr(îsó(s(jpik(nìsó(ñpik(l(i(írø(Uhr(îs(ìrn(jès(sn(jhs(hlh(r(jñmîì(nl(hp(om(us(nl(¨UTY(r(ìik(nm(jr(
¥Rm(gs(i(hx(Xrn(hi(Qîso(ós(i(psø(s(`s(vrP(mp(or(ns(m(urm(ìi(mk(om(ur(pr(ìl(íi(èlp(ji(ui(mwl(èi(r(åH(lêi(jns(èr(jr(
arî(èr(nrP(lèîìl(êl(ìl(ís(ki(jih(s(Rp(ws(ìiJ(Tsîì(mwl(èi(wsm(ìi(ñm(ui(ír(nìi(jñm(jmw(nm(jhs(îm(èrî(nsó(lñpr(ur(r(
ñîr(ns(pr(nìi(s(pi(r(îs(m(ur(nìi(ñpm(ìi(èr(hr(r(sn(hip(nr(gs(m(nr(îs(r(gs(ìl(vr(îsó(s(jpik(nìsó(ñpik(l(i(ír(èpm(ìr(êr(nìi(
nìs(óm(usó(ièm(nmv(jèsó(ui(r(jr(Uhr(îs(ìmvJ
§HM

\ZS[Q(UWRV`\ôYWVQZWY(ôSVUcQTUeY(\(\YWe\(RV`QWS[(eYõUüQ(JJJ
s(r(ñm(îr(or(nìi(sj(ñs(hr(^ZU(XQ(bFP)P@G)b9)A)C@P(vi(⁄l(nrp(km(nm(ñps(nr(hmo(jip(hs(û(èr(hr(m(
ñm(nr(ur(nìl(ñm(jîmu(nmo(shr(îs(ìrn(jèmo(ìi(s(èrP(éhm(jl(lêi(jns(gs(ljñi(énm(s(lpr(ks(îsJ
^pm(oprv(èlp(jr(r(jns(urm(ji(nr(lkë(wi(ns(èl(8I9>A)C9)A):F)9:)Ak9)@:)HA(s(kr(ur(êr(j

UFEA:A)hAH@:RFQ9û)r)aCAQ9bA)o9>9û)OAFC9CCF)r)Ä@Q@:A)a>AERFQ9û
mgi(nmv(HPãHå(nr(ñm(êih(èl(s(çPâå(nr(èpr(ìl(èlp(jr(s(jîl(ér(nìi(jr(çPMM(ñpi(vr(§PMM(s(nr(
èpr(ìl(ñm(îr(ns(gs(jl(jvr(hpr(îs(kr(jl(nrì(vr(nìi(lnr(ñpi(kîs(îs(hió(ns(èi(ês(hr(nìr(¨ñpm(jiê(nr(
mgi(nr(çPäâ£åPMM(ñpi(vr(§Pçâ£åPMM(nr(èpr(ìl(èlp(jrJ(eik(nr(mk(mñ(éhsó(jl(oi(jhs(ìr(ñmL
îr(ns(èr(wsm(ìi(sn(hi(s(hih(èlp(jrP(ñpiv(kr(ìi(âå«(jhl(ki(nr(hr(ñm(hup(ks(îm(kr(ìi(lñpr(um(
sn(hi(s(hih(èlp(jr(nr(êrì(nm(km(ñps(nim(ljur(ìr(nìl(ìi(s(èrP(éhm(nrv(hr(èm(⁄i(vm(ëi(lèr(r(hs(
nr(ês(nìi(ns(gl(kr(ìi(lñpr(um(murì(sn(hi(s(hih(krm(pi(lî(hr(hi(èm(ìsó(jl(s(jr(vs(ñmî(r(ns(gs(ws(îs(
jui(jnsJ(^m(îr(ns(gs(jl(mjhr(îs(ñm(ki(îìi(ns(l(ui(s(jr(kl(ës(nmv(èlp(jrP((ñm(îm(us(nr(ìi(jvr(hprL
îr(kr(ìi(èlpj(km(umîì(nm(kl(om(hpr(ìrmP(ñm(îm(us(nr(kr(ns(ìiJ
^pm(jiê(nmv(mgi(nmv(çPâå(nr(jèr(îs(mk(K(km(å(ñm(îr(ns(gs(jl(ñpm(gi(ns(îs(kr(jl(nìsL
óm(ur( jhplê(nr( r(nìr( km(ñps(ni(îr( wp(ëiv( s( wm(îìiv( ljur(ìr(nìl( nm(ui( hip(vs(nm(îm(os(ìi( nr(
shr(îs(ìrn(jèmv(ìi(s(èlP(rîs(ìi(ui(ís(nr(¨âå«(jvr(hpr(îr(kr(ìi((ljur(ìr(nìi(jhplê(nsó(hip(vs(nr(
ñmk(ìik(nr(èm(hi(éèm(èrm(s(ljur(ìr(nìi(ws(îm(èm(ìsó(kpl(osó(pi(êsP(j(hsv(kr(jl(ñm(îr(ns(gs(l(
mwpr(îr(or(nìl(jum(ìsó(mk(om(um(pr(sj(hs(gr(îs(kr(sv(ìi(nr(ns(ësv(ns(um(s(vr(lêi(nìr(pr(îs(èr(l(
ñpm(és(ps(ur(nìl(um(èr(wl(îr(pr(ni(nrh(nrP(kmè(jl(ñm(îr(ns(gs(nr(ñpik(ns(ìi(opl(ñiP(sj(hs(gr(îs(kr(
ñm(nr(ur(nìi(jhplê(nsó(hip(vs(nr(l(jpñ(jèmv(ìi(s(èl(l(vnm(om(vi(mîrè(ér(ur(ljur(ìr(nìi(
sjhsó(nr(shr(îs(ìrn(jèmvJ
al(kl(ís(kr(nrv(ìi(ìi(krn(mk(gs(îìi(ur(iur(îl(r(gs(ìi(wsm(sj(ñs(hs(ur(nìi(ìr(ês(ni(s(hs(ñr(vm(hsL
ur(gs(ìi(jhl(ki(nr(hr(kr(ñm(ór(⁄r(ìl(mur(èul(up(jhl(èlp(jrP(ñm(ji(wrn(kim(ñm(jui(hs(îs(jvm(ñs(hrL
nìs(vr(l(ui(s(jr(vm(hs(ur(gs(ìmvJ(Urèm(jvm(mêi(ès(ur(îs(kr(íi(ji(èrm(mk(om(ump(nr(ñs(hr(nìi(
èm(ìr(ìi(ws(îr(nìs(óm(ur(vm(hs(ur(gs(ìr(r(lêi(jhum(ur(nìi(nr(èlp(jl(ñm(jîmu(nmo(shr(îs(ìrn(jèmo(
ìi(s(èr(ñm(îr(ns(gs(mñpi(ki(îs(hs(r(mk(om(um(pi(èm(ìs(jl(lñl(ís(ur(îs(nr(ni(ès(mw(îsè(sn(jhpl(vinL
hrî(ni(vm(hs(ur(gs(ìiP(ñm(ñlh(vm(olí(nm(jhs(nr(ñpi(km(ur(nìr(nr(ñm(jîl(sîs(l(jhpl(gsP(vm(olíL
nm(jhs(mk(îr(jèr(l(Uhr(îs(ìlP(ñm(îr(or(nìr(sj(ñs(hr(^ZU(XQ(sîs(s(pr(ki(r(up(énmo(ñpm(ìiè(hrP(êrè(
âå«(ìi(sj(hr(èîm(kr(ìi(sj(èîìl(ês(um(îsê(nr(vm(hs(ur(gs(ìr(ws(îr(ñm(èpi(hrê(mur(èumo(r(îr(or(nìrJ(
O'§*'{,û4'¢*{
Un(hi(s(urn(èlpj(ñm(jîmu(nmo(shr(îs(ìrn(jèmo(ìi(s(èr(èm(ìs(ji(mk(us(ìrm(ñps(Un(jhs(hl(hl(r(
jñmîì(nl(hp(om(us(nl(l(ai(m(opr(kl(wsm(ìi(ni(hr(èm(êi(jhr(ñps(îs(èr(kr(ji(sj(hpr(ëi(vi(hm(ki(s(nrL
jhru(ni(hió(ns(èi(nr(jhr(ui(jhplê(nmo(shr(îs(ìrn(jèmo(ìi(s(èrJ(^pih(ómk(nr(nr(nìr(s(jhplê(nsó(
mwîr(jhs(èm(ìs(vr(ìi(èlpj(wsm(nr(vi(nìin(ws(îr(jl(mk(ni(vip(îìs(umo(nr(êr(ìr(r(lnr(ñpi(⁄iL
nìi(nr(jhru(nsó(hió(ns(èr(èm(ìi(jl(ji(èm(ps(jhs(îi(hm(èmv(èlp(jrJ(al(kl(ís(kr(ìi(ñpm(oprv(wsm(
mws(vrn(r(èlpj(ui(m(vr(sn(hi(s(urn(s(kr(jl(l(ñs(hr(nìl(ws(îs(uií(r(ñm(jîi(ns(ñm(îr(ns(gsP(mk(
ñm(jiw(nmo(nr(êr(ìr(ws(îm(ìi(sj(ñs(hr(hs(s(vm(hs(ui(èm(ìs(jl(só(ñm(èpi(nl(îs(r(lêi(jhum(ur(nìi(l(
mur(èumv(ñpm(ìiè(hlJ(Urèm(nr(ñm(êih(èl(ñps(îsê(nm(jèîm(ns(vs(éîìi(nìl(kr(íi(èrn(ks(kr(hs(ñmL
èr(r(hs(ui(îs(èl(vm(hs(us(jr(nmjh(lñpr(um(wpmì(nsv(sn(jhpl(vin(hrî(nsv(òrè(hmp(vr(¨wm(pr(urè(l(
Uhr(îs(ìsP(ñm(îr(or(nìi(sj(ñs(hr(^ZU(XQ(bFP)P@G)b9)A)C@P(s(pr(kr(r(up(énmo(pr(kr(nr(shr(îs(ìrn(jèmv(
ìi(s(èlP(nr(ñpi(km(ur(nìi(nr(ñm(jîlP(shkJ(nrì(ui(ís(ñpm(gi(nrh(èrn(ks(kr(hr(ñm(èr(rm(ìi(kr(ìi(
§HH

\ZS[Q(UWRV`\ôYWVQZWY(ôSVUcQTUeY(\(\YWe\(RV`QWS[(eYõUüQ(JJJ
ñpi(jlk(nr(vm(hs(ur(gs(ìr(ws(îr(îsê(nr(vm(hs(ur(gs(ìrJ(Sur(èru(mk(om(ump(ñm(îr(ns(èr(nr(um(ks(nrj(
nr(r(èîìl(êrè(kr(ìi(sn(jhpl(vin(hrî(nr(vm(hs(ur(gs(ìr(l(js(hl(r(gs(ìr(vr(l(èm(ìs(vr(ji(mêi(èl(ìl(
pi(lî(hr(hs(l(èprh(èmv(upi(vin(jèmv(ñi(ps(m(kl(s(èm(ìs(mk(ñm(îr(ns(èr(mêi(èl(ìl(us(jmè(ns(um(
r(îr(or(nìr(s(ui(îs(ès(wpmì(lhm(éi(nsó(jr(hsP(r(ñpr(um(up(îm(êi(jhm(ni(pr(kumì(nr(mk(îsê(ni(¨lnlL
hpr(énìi(vm(hs(ur(gs(ìiJ(
,1)-3*)43*
arîwmnsP( ^JYJ¨HMMHJ( 8@) ={H@) H9) UAf@C@l) `:=@;:AG@) C@) C9:;©) bFPBC@==@P(
\VYV(ZswpipsrP(VmpsnmP(¨jhpJK§äLKåH
aQZaSWUP^JYJ¨HMMMP(8@)P9bGFC9:;9{bFrBGFi@==9F:AC9l)ÄA>FP(
\VYV(ZswpipsrP(VmpsnmP(¨jhpJKçLKãP(âãLäMP
`dYUWaY`[(bJP(oF>9QAb9EAP(Wrèîrkr(RZQ^P(õropiw(HMM§(¨jhpJKKç
üYZZ†P(ôJ¨HMMåP(oF>9QA>9F:l)>J@)äABA:@=@)vG@=JPA:)¥:9Q@G=9>e)a>)A:H)vFG@9;:)
8A:;>@G9=>9bJ@)H@;C9)ABBG@:H@:>9P(ôrnlrîi(ks(oîmhhmkskrhhsgrP(
r(gJks(Xi(ôrpgm(QJ(L(Trpmggs(YkshmpiP(¨jhpJâKLäã
YD;?#.#KB7>;O7#6;9;?#V7DB;BBD#.#H=>=H7#K97;?
UZ(`\SZS(XYZZQ(ôSVUcQõUSWY(RV`\ôYWVQZY(
Q(Uô^Q`Q`Y(\WQ(ZUW[\Q(RV`QWUY`Q(XU(R^YTUQZUV‡
h9A==F
Zfrññpinksvinhm(ks(lnr(jigmnkr(îsnolr(moos(q(ksuinhrhm(ñrphi(snhioprnhi(kiîîr(òmpvrsmni(
ñipjmnrîiJ(Uî(urîmpi(kiî(ñipgmpjm(kskrhhsgm(js(vrnsòijhr(rngói(niîîr(ñmjjswsîshx(ks(rññîsgrpi(
îi( gmnmjgini( rgúlsjshiJ( Swwsihhsum( ks( úlijhm( gmnhpswlhm( q( ks( ijrvsnrpi( sî( plmîm( kiîîr(
vmhsursmni( jhplvinhrîi( kroîs( rññpinkinhs( kiîîfshrîsrnm( gmvvipgsrîiJ( [îs( rññpinkinhs(
órnnm(òpiúlinhrhm(sî(gmpjm(snhinjsum(kiîîfshrîsrnm(gmvvipgsrîi(sî(úlrîi(q(jhrhm(ksjionrhm(
jigmnkm(îi(piomîi(kiî(]lrkpm(ks(`sòipsvinhm(Ylpmñim(kiîîi(ZsnoliJ
OAGFC@) bJ9AQ@{( vmhsursmni( jhplvinhrîiP( shrîsrnm( gmvvipgsrîiP( svñrprpi( lnr( îsnolr(
jhprnsipr(ks(jñigsrîshxJ
amìrnr(`rkinèmusí
Yklèmnj(lnsuipshihP(Wmus(RrkP(Rpwsìr
brèlîhih(r(jñmph(s(hlpsrv
iLvrsî{(prkinèmusgwmìrnrÀovrsîJgmv
§Hç

UFEA:A)hAH@:RFQ9û)r)aCAQ9bA)o9>9û)OAFC9CCF)r)Ä@Q@:A)a>AERFQ9û
Rîrusgr(ôshsg(^rmîsîîm
Xpléhum(Xrnhi(QîsoósipsP(WséP(Rpwsìr
iLvrsî{(krnhijÀviksrnsjJnih
Wiuinr(Rhrìèmusí
Qggrkivsr(kiî(ZljjmP(aimoprkP(Rpwsìr
iLvrsî{(òrvvsjrñipiÀómhvrsîJgmv(
§H§

H;HDKB7>7#87:;?
0Z3LZ,Z{*'a31,*`Z-XZ/)''
10-X1¢{1b'*X`,1Y1§*0*''
4'-{ZXZ0/{Z0'3-`1/)34'/3a/{Z`'û-§1{*
Rui(ui(ís(wpmì(rn(oîs(gs(r(vr(l(ièm(nmv(jèmì(hip(vs(nm(îm(os(ìs(jpñ(jèmo(ìi(s(èr(l(ks(pièh(nmì(ìi(ui(s(
jr(èlî(hlp(nmv(km(vs(nr(gs(ìmv(i(vr(îìr(in(oîi(jèmo(om(ump(nmo(ñmk(plê(ìr(s(nr(ñpih(èmv(l(mwîr(jhs(
èm(vl(ns(èr(gs(m(nsó(hió(nm(îm(os(ìrJ(ei(sê(èm(nmp(vs(pr(nìi(ns(ìi(l(vm(olí(nm(jhs(kr(ñpr(hs(lwp(rn(hiv(ñm(
s(ñm(ìr(êrn(sn(hin(s(hih(lîr(jèr(rn(oîs(gs(r(vr(l(ìi(sè(ièm(nmv(jèi(jhpl(èi(jpñ(jèmo(ìi(s(èr(éhm(um(ks(
èr(ñpm(s(umîì(nm(jhs(l(lñm(hpi(ws(rn(oîs(gs(r(vr(s(ui(íiv(wpm(ìl(èmv(ñpm(vs(jnsó(pi(ñîs(èr(ìik(nmo(vmL
ki(îrP(loîru(nmv(nr(ñîr(nl(mp(hm(opr(û(ìi(s(vmp(òm(îm(os(ìiJ(`rk(ñps(èr(l(ìi(hsñ(s(jhi(ñin(rkrñ(hr(gs(ìi(
rn(oîs(gs(r(vr(l(jpñ(jèmv(ìi(s(èl(nr(vmp(òm(îm(éèmv(ns(umlP(vi(ór(ns(vi(èm(ìs(vr(ji(jpñ(jès(ìi(sè(
èm(ps(jhs(l(òmp(vs(pr(nìl(vmp(òm(îm(éèmo(mw(îs(èr(rn(oîs(gs(vrP(hi(sj(ñs(hl(ìi(iuin(hl(rî(ni(snm(ur(gs(ìi(l(
vmp(òm(îm(éèmv(js(jhi(vl(jpñ(jèmo(ìi(s(èr(nr(jhr(îi(ñmk(lhs(gr(ìiv(in(oîi(jèmo(ìi(s(èrJ(
YCE

Äı:F=CAQA)hAHıû
ìi(s(èr(èrm(ìi(s(èr(kr(ur(m(gr(s(lèîm(ñîìi(nl(l(js(jhiv(ni(èmo(kpl(omoP(l(nr(éiv(jîl(êr(ìl(
jpñ(jèmo(ìi(s(èrP(èrm(ìi(s(èr(ñps(vr(m(gr(nr(s(ur(vm(rn(oîs(gs(vmvJ
eik(nm(mk(mjnmu(nsó(nr(êi(îr(îsn(ous(jhsê(èmo(ñm(jl(⁄s(ur(nìr(ìi(jhi(kr(jur(èr(ñm(jl(⁄i(nsL
gr(hi(ës(kr(ji(lèîm(ñs(l(js(jhiv(ìi(s(èr(ñps(vr(m(gr(hr(èm(éhm(ji(rkrñ(hs(pr(ñm(ñpsn(gs(ñs(vr(
nm(umo(ìi(s(èr{((jup(jhr(ur(ji(l(mk(pi(⁄i(ni(opr(vr(hsê(èi(èr(hi(om(ps(ìi(s(ñps(vr(r(nìsó(èr(prèL
hi(ps(jhsê(ni(nr(jhru(èiJ(¨dr(l(oin(KIâå{(äIJ(
ôi(⁄l(hsvP(ñm(èr(r(îm(ji(kr(l(ñprè(js(hm(ns(ìi(lus(ìiè(jîl(êrì(ìip(ji(vnm(os(nm(us(ìs(
rn(oîs(gs(vs(l(jpñ(jèmv(ìi(s(èl(lñm(hpi(wîìr(ur(ìl(l(mp(hm(oprò(jès£òm(nm(îm(éès(s(vmp(òm(îm(éès(
ni(ñps(îr(om(⁄i(nmv(mw(îs(èl(nr(éhr(ni(ñpi(jhr(nmP(vr(krP(nr(ër(îmjhP(ni(mnm(îs(èm(ljñìi(énm(
èm(îs(èm(ws(hpi(wr(îmP(lèr(l(ìl(nr(és(îsn(ous(jhsJ H (
ei(sê(èm(nmp(vs(pr(nìi(ns(ìi(l(vm(olí(nm(jhs(kr(ñpr(hs(lwp(rn(hiv(ñm(s(ñm(ìr(êrn(sn(hin(sL
hih(lîr(jèr(rn(oîs(gs(r(vr(l(jpñ(jès(ìi(sè(éhm(um(ks(èr(ñpm(s(umîì(nm(jhs(l(nìs(óm(umì(lñm(hpiL
wsJ(Surì(ñpm(wîiv(s(pr(ëin(ìi(s(l(ñs(jr(nsv(vi(ks(ìs(vr(ìi(s(èr(jhpl(èi(nr(vìi(nìi(nsó(lëiv(
èpl(ol(îìl(ks(okìi(ji(rlhm(ps(êi(jhm(mk(îl(êl(ìl(r(s(ump(ni(lvìi(jhm(rkrñ(hs(pr(nsó(mw(îs(èr(
pr(êl(nr(ìl(ís(nr(kum(ìi(sê(nmjh(ês(hr(m(grP(r(sjhm(upi(vi(nm(ni(ëi(îi(ís(kr(sn(hip(nr(gs(m(nrî(nm(
ñm(nr(hi(hip(vs(ni(r(vs(ìi(ni(vr(nìi(ñpi(ñm(nr(hîìs(usv(km(vr(ísvJ(
\( mumv( pr(kl( s(ns(ìi(íi(vm( pi(lî(hr(hi( sj(hpr(ës(ur(nìr( ñps(îr(om(⁄i(nm(jhs( rn(oîs(gs(r(vr(
ièm(nmv(jèi(jhpl(èi(vmp(òm(îm(éèmv(js(jhi(vl(jpñ(jèmo(ìi(s(èr(èm(ìr(mw(l(óur(hr(rnr(îs(l(
mjnmu(nmo(mw(îs(èr(ñm(jl(⁄i(ns(gi(¨inoJ(gs(hr(hsmn(òmpvP(rnr(îs(l(nìi(ni(sn(hi(ops(jr(nm(jhs(l(
js(jhiv( ñpm(vìin(îìs(usó( mw(îs(èr( jpñ(jèmo( ìi(s(èrP( ¨rnr(îs(r( ¿iè(hsu(ni( vmp(òm(îm(os(ìiP( hi(
rnr(îs(l(l(mwîr(jhs(ki(ps(ur(gs(m(ni(vmp(òm(îm(os(ìi(¨nr(rn(oîs(gs(vs(vr(s(ui(ki(nsv(ñpm(gi(js(vr(
ñpi(ûè(jr(gs(ìi(s(jl(ûè(jr(gs(ìi(s(jîr(or(nìr(èr(èm(ws(ji(lhup(ks(îs(iuin(hl(rî(ns(lhs(gr(ìs(in(oîiL
jèmo(ìi(s(èr(nr(jpñ(jès(l(sn(uin(hr(pl(ki(ps(ur(gs(m(nsó(vmp(òi(vr(s(l(hs(ñm(îm(os(ìs(opr(⁄i(nìr(
ps(ìi(êsJ(
õr(jup(ól(mumo(sj(hpr(ës(ur(nìr(ñps(èl(ñîìin(ìi(èmp(ñlj(hiè(jhm(ur(s(lkë(wi(ns(èr(s(ñps(plêL
ns(èr(s(pr(îs(ês(hsó(mwîr(jhs(ièm(nmv(jèsó(nr(l(èr{(hi(m(psì(jèiP(vi(⁄l(nr(pmk(niP(vm(ni(hrp(niP(
û(jèrî(ni( ièm(nm(vs(ìiP( ñpik(l(ihnéhurP( pr(êl(nm(umk(jhurP( ñm(jîmu(nsó( û(nrn(js(ìrP( vrp(èiL
hsn(or(s(vi(nrkë(vin(hrJ(Wr(lê(nmLlkë(wi(nsê(ès(ñmk(jhsî(sr(wprn(ìi(ìip(ji(nìs(vi(èm(ps(jhs(
ui(îs(ès( wpmì( om(ump(ns(èr( ¨jhl(kin(hs( s( ñpm(òi(js(m(nrî(gs( r( hiè(jhm(us( l( nìs(vr( mk(îs(èl(ìl( ji(
jpik(nìsv(ns(um(mv(jhplê(nm(jhs¥J(Qlhm(ps(lkë(wi(ns(èr(jlP(l(mk(nm(jl(nr(ñs(jgi(nm(usn(jèsó(
êîr(nr(èrP(vr(nìi(jèîm(ns(lñm(hpi(ws(rn(oîs(gs(r(vr(pr(ks(jhsî(jèmo(iòiè(hrP(r(lkë(wi(ns(gs(ñps(ìi(
éhrv(ñr(nìr(mwr(ui(nm(ñpm(îr(i(îiè(hl(plP(éhm(nr(ês(kr(ws(hpi(wr(îs(ws(hs(ñs(jr(ns(l(jèîr(kl(jr(
ur(ëi(ísv(ñpr(um(ñs(jnsv(nmp(vr(vrP(ñr(hr(èm(s(mns(vr(èm(ìi(ji(mk(nm(ji(nr(lñm(hpi(wl(rnL
oîs(gs(r(vrJ(\(jr(jhru(èmp(ñl(jr(léîm(ìi(ãM(hiè(jhm(urP(éhrv(ñr(nsó(mk(mjrv(ki(ji(hsó(om(ksL
nr(kur(ki(ji(hmo(us(ìi(èr(nr(m(ur(vmP(kl(ës(ni(mk(kus(ìi(km(éijh(ós(îìr(kr(ps(ìi(êsP(éhm(lèlñ(nm(
s(nm(js(mèm(HMMJMMM(ps(ìi(êsJ
H(
(^ps(ìi(jusó(üîrìn(s(^p(ísíJ(¨cs(ks(èm(ps(éhi(nl(îs(hi(pr(hl(plJ
§Hã

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
mO'{*'3*{')-'31'/)1'{-'û-'§1'{*'/)34'{-
ei(sè(jhpl(èi(pi(r(îs(l(ìi(ji(ñps(vrp(nm(l(ñs(jvi(nmì(òmp(vs(s(mk(îs(èl(ìi(ji(îm(osê(nm(éílP(
mwìiè(hsu(nm(éílP(ñpi(gs(nm(éílP(ni(l(hprî(nm(éíl(rlhm(pm(ui(îsê(nm(jhsP(jhpm(osv(s(wm(pmv(îièL
jsê(èmo(vr(hi(ps(ìr(îrP(io(rèh(nm(éíl(s(ièm(nm(vsê(nm(éílJ(^pi(vr(up(jhs(ps(ìi(êsP(svi(ns(gi(jl(
kr(îi(èm(nrì(wpmì(ns(ìi(s(hr(ìi(mjm(ws(nr(r(ìik(nsê(èr(r(mñ(éhs(s(jhplê(ns(ìi(sèP(j(hsv(kr(ìi(
l(hiè(jhm(usvr(ñs(jr(nsv(nr(lê(nsv(jhs(îmv(wpmì(svi(ns(gr(ìmé(s(ui(ísP(loîru(nmv(nrléhpw(
oîr(om(îrP(éhm(ìi(mñih(l(ui(s(jr(vmp(òmLjsn(hrè(jsê(èsv(mjm(wi(nm(jhs(vr(ìi(s(èr(jhpl(èiJ(Vl(
ñps(ìi(jui(or(vs(jîs(vm(nr(nm(vs(nr(îs(r(gs(ìl(sj(èr(r(s(lñm(hpi(wl(ñr(jsu(nsó(èmn(jhplè(gs(ìrJ 3 (
Wr(îiè(jsê(èmv(ns(uml(ìi(sè(jhpl(èi(hum(pi(hps(èr(hi(om(ps(ìi{(mñ(éhr(îiè(js(èr(¨ps(ìi(ês(s(
mñ(éhio(ìi(s(èr(jr(ni(ñpm(vs(ìi(nìi(ns(v(nr(êi(nìivP(hip(vs(nm(îm(os(m(ur(nr(îiè(js(èr(¨ps(ìi(ês(
s(mñ(éhio(ìi(s(èr(jr(hip(vs(nm(îm(os(m(ur(nsv(8(jhplê(nsv(nr(êi(nìiv(s(hip(vs(ns(l(lëiv(
jvs(jîl(¨s(pr(s(jñi(gs(ûê(ns(r(mk(pi(⁄i(nl(jhpl(èl(sîs(nr(l(èlJ(\(ìi(s(èl(ièm(nmv(jèi(jhplL
èi(nrì(us(éi(rn(oîs(gs(r(vr(nr(îr(s(vm(lñpr(um(l(hip(vs(nm(îm(éèmv(jio(vin(hl(ìip(ji(mn(jr(
pr(ush(èmv(nr(l(èi(nrì(wp(ëi(lui(ír(urP(r(r(ìik(nm(jr(nm(usv(vi(hm(kr(vr(s(jñm(nr(ìr(vr(s(
kpl(osó(èlî(hl(pr(nrì(êi(éíi(lum(s(vm(s(nìs(óm(ur(svi(nrJ
uO')-'Z'31'û*'û-'§1¢'{Z`'aZ'/4'1'[*'Xû*
Rui(ñm(ìr(ui(l(ñpm(gi(jl(îsn(ous(jhsê(èmo(ñm(jl(⁄s(ur(nìr(èm(ìi(ji(ìr(uîìr(ìl(nr(vmp(òm(îmL
éèmv(ns(uml(r(us(ji(mk(jîsê(nm(jhs(s(pr(îs(èr(vmp(òm(îm(éèsó(js(jhi(vr(ìi(s(èr(l(èmn(hrè(hlJ(
^ps(îs(èmv(ìi(sê(èmo(ñm(rìv(îìs(ur(nìr(pr(îs(èi(l(vmp(òm(îm(éèsv(js(jhi(vs(vr(ìi(s(èr(l(km(ksL
pl(vm(ol(ji(vr(ns(òi(jhm(ur(hs(nr(kur(nr(ês(nr{(
K(ñpm(vìi(nr(vr(èpm(èm(ìi(s(ump(ns(mw(îsè(¨vm(kiî(ñpm(îr(s(ñps(îs(èmv(òmp(vs(pr(nìr(rkrñL
hs(pr(nmo(mw(îs(èr(¨pi(ñîs(èiP(ñps(êi(vl(ìi(sn(hin(s(hih(hsó(ñpm(vìi(nr(ñpm(ñmp(gs(m(nr(îrn(vmpL
òm(îm(éèmì(lkr(îìi(nm(jhs(kur(js(jhi(vræ
H(ñpm(vìi(nr(vr(l(vmp(òm(îm(éèmv(js(jhi(vl(ìi(s(èr(ñps(vr(m(gr(ñmk(lhs(gr(ìiv(mk(îs(èr(jsL
jhi(vr(ìi(s(èr(kr(ur(m(grJ
(^m(éhm(ìi(vmp(òm(îm(éès(js(jhiv(jur(èmo(ìi(s(èr(r(hum(pin(¨mu(kìi(ni(pr(êl(nr(vm(jîm(wmk(ni(
vmp(òi(vi(èrm(ksm(îiè(js(èi(èm(ìr(ìi(mhum(pin(js(jhiv(ìi(s(gs(ps(ìih(èm(èrk(lhs(êl(ìi(krn(nr(
ç(
Wm(vs(nr(îs(r(gs(ìr(sj(èr(r(ñm(jhs(ëi(ji(ñl(hiv(ki(èmv(ñm(nm(ur(nìr(ñpi(ks(èr(hr(okìi(ji(ìik(nm(êîr(ns(ñpi(ks(èrh(
èm(ìs(ês(ns(ñl(nm(nrê(ns(oîr(omî(r(vìi(nìl(ìi(kum(êîr(nsv(ñpi(ks(èr(hmv(jr(jhr(uîìi(nsv(mk(oîr(omî(jèi(èm(ñl(îi(
s(oîr(omî(jèi(svi(ns(gi(¨up(és(hs(nrk(oîi(kr(nìi(lvìi(jhm(nrk(oîi(kr(hsP(ês(vi(ji(oîr(om(îs(ñpi(hur(pr(ìl(l(mwsê(ni(
ui(su(ni(èr(ps(èi(wi(ñm(jiw(nmo(nr(êi(nìr(sîs(ñl(hiv(èmn(kin(r(gs(ìi(okìi(ji(pi(êi(nsê(ns(jr(kp(ër(ìs(jr(mñ(éhrL
ur(ìl(ñm(vm(íl(èmn(jhplè(gs(ìr(èm(ìi(ni(jr(kp(ëi(îsê(ni(oîr(omî(jèi(mw(îs(èi{(nñpJ(ñm(vm(íl(oîr(omî(jèi(svi(ns(gi(
¨pr(ks(mjur(ìr(nìr(hp(ës(éhr(£(kr(ws(mjum(ìs(îs(hp(ës(éhiP(oîr(omî(jèsv(ñps(kìi(umv(¨ljñìi(îs(jl(l(hm(vi(ñm(ìr(êr(nmv(
ñpm(s(umk(nìmv(£(ljñìi(îs(jl(l(hm(vi(hr(èm(éhm(jl(ñm(ìr(êr(îs(ñpm(s(umk(nìl(s(jîJ(cs(éi(m(pi(lî(hr(hs(vr(sj(hpr(ësL
ur(nìr(èr(prè(hi(ps(jhs(èr(nr(lê(nmo(òlnè(gs(m(nr(îr(nmo(jhs(îr(us(ks(l(`m(jrn(ksí(s(Rs(îsí(KIâI{(KHåLKçM(s(Vm(ém(usí(
HMMH{(ç§âLçå§J
§Hâ

Äı:F=CAQA)hAHıû
kpl(os(l(ñmk(plê(ìl(vmp(òm(îm(os(ìiP(mk(nm(jnm(hprn(jòip(ui(r(nsó(vmp(òi(vr(ìr(uîìr(ji(ps(ìihL
èmP(r(s(hrk(ni(sm(îm(ur(nmP(uií(nr(ènrk(nsv(s(kur(ìr(nìiv(s(ñm(rìv(îìi(nmo(îiè(jsê(èmo(
vr(hi(ps(ìr(îrJ
Sñ(éhi(hi(m(pih(jèi(ñm(jhru(èi(ìi(sê(èmo(ñm(jl(⁄s(ur(nìr(nr(vmp(òm(îm(éèmv(ns(uml(èm(ìi(
ur(ëi(r(mñ(éhl(îiè(js(èl(¨dr(l(oin(KIåHP(bs(îs(ñm(usí(KIäã(ñps(vìi(nìs(ui(jl(s(nr(èmpL
ñlj(rn(oîs(gs(r(vr(ièm(nmv(jèmo(pi(os(jhprJ(^pm(gij(ñpi(îr(jèr(mk(vm(ki(îr(èr(pi(ñîs(gs(nr(
vmp(òm(îm(éèmv( ns(uml( pi(ol(îs(éi( mñi(pr(gs(ìr( èm(ìl( nr(s(ur(vm( hprn(jvmp(òi(vs(r(gs(ìmvP( r(
r(us(jnm(mk(jr(jhr(ur(mjnmu(nmo(mw(îs(èr(ñm(jl(⁄i(ns(gi(s(rkrñ(hr(gs(ìi(ui(r(nmo(vmp(òi(vr(
ìr(uîìrìl(ji(l(hps(hs(ñr{
K(nlî(hr(hprn(jvmp(òi(vs(r(gs(ìr(ìr(uîìr(ji(èrk(ìi(vm(kiî(jr(jhr(ur(¨RZS(aSX(WQ(ôS`L
bY(ôQ(¡(W\Z(VQ(¨Á(cY(õQ(WQ(ôS`(bY(ôQ(ñpi(l(ih(l(ìi(sè(ñps(vr(îrg(èrm(jîmL
wmk(nr(vmp(òi(vr(wi(ui(r(ni(vmp(òi(vi(¨jhm(or(s(hip(vsn(nlî(hr(hprn(jvmp(òi(vs(r(gs(ìrP(
ñr(ni(vr(ñm(hpi(wi(r(vmp(òm(îm(éèmv(rkrñ(hr(gs(ìmv(mjnmu(nmo(mw(îs(èrJ(R(vmp(òm(îm(éèmo(
jhr(nm(us(éhrP(vm(kiî(mk(om(ur(pr(pi(ñîs(gs(s(mwp(nl(hmJ(
H(èmv(ñpm(vs(jnr(hprn(jvmp(òi(vs(r(gs(ìr(ìr(uîìr(ji(èrk(vm(kiî(jr(jhr(ur(RZS(aSX(WQ(
ôS`(bY(ôQ(¡(cY(õQ(WQ(ôS`(bY(ôQ(l(ìi(sè(ñps(vr(îrg(lîr(s(èrm(vm(nm(vmp(òivL
jèr(ìi(ks(ns(gr(¨ui(r(ns(vmp(òiv(vm(ki(îr(hpi(hs(pr(ji(l(ìi(s(èl(ñps(vr(m(gl(èrm(ksm(mjnm(uiJ(
ç(ñmh(ñl(nr(hprn(jvmp(òi(vs(r(gs(ìr(ki(ér(ur(ji(èrk(ji(ui(r(nr(vmp(òi(vr(in(oîi(jèmo(ìiL
s(èr(r(vìi(ns(jl(ûè(jmv(sjhi(òlnè(gs(ìi(s(nr(êi(nìr(s(vmp(òm(îm(éèmo(js(jhi(vr(jpñ(jèmo(
ìi(s(èrJ(\(murì(hsñ(hprn(jvmp(òi(vs(r(gs(ìi(lîr(i(s(jîl(êr(ìi(us(okìi(ji(nlî(hr(ui(r(nr(vmpL
òi(vr(vm(ki(îr(r(vìi(nìl(ìi(ui(r(nmv(vmp(òi(vmv(jpñ(jèmo(ìi(s(èr(èr(prè(hi(ps(jhsê(nmv(
r(mjnmu(ns(mw(îsè(mk(pi(⁄i(ni(up(jhi(ps(ìi(ês(¨nñpJ(èmk(oîr(om(îr(sîs(èmk(svi(ns(gr(ëin(jèmo(
pm(krJ
úO'*.*a')*'Y1'û*'10-'X1¢'{1b'*X'`,1'Y1'§*'0*
ümp(ñlj(rn(oîs(gs(r(vr(ièm(nmv(jèi(jhpl(èi(nr(èm(vi(ìi(up(éi(nm(sj(hpr(ës(ur(nìi(jr(jhm(ìs(
ji(mk(åHç(îiè(jsê(èi(ìi(ks(ns(gi(mk(êi(or(ìi(å§((sîs(KM«(rèpm(ns(vr(s(jèpr(íi(ns(grJ(Sk(ñpiL
m(jhr(îi(§ãI(îiè(ji(vi(svi(ns(gi(ês(ni(äç«(èmp(ñl(jrJ(Qnr(îs(l(rkrñ(hs(pr(nm(jhs(svi(nsê(èsó(
rn(oîs(gs(r(vr(èpi(íi(ji(mk(vm(nm(vmp(òiv(jèsó(ìi(ks(ns(gr(èr(èmv(ñîiè(jns(ìsv(îiè(jsê(èsv(
jhplè(hl(pr(vr(s(r(up(ér(ur(rnr(îs(mv(svi(nsê(èsó(jîm(ëi(ns(grJ
úOlO'*Hoz'Go'qJ'ôo'FDpFn'pFx'Fy'BJ'}o'JEA'pJ'qo
úOlOlO'*Hoz'Go'qJ'ôo'EF'pF'EFK'vAE'D}Jt'ôA'HJ'pJ'qo
Qkrñ(hr(gs(ìr(mjnmu(nmo(mw(îs(èr(in(oîi(jèsó(vm(ki(îr(jr(jhr(ur(RZS(aSX(WQ(ôS`L
bY(ôQ(¡(W\Z(VQ(cY(õQ(WQ(ôS`(bY(ôQ(l(jpñ(jès(ìi(sè(hi(êi(wi(ui(ísó(hi(éèm(ír(
§Hä

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
ìip(ìi(l(mwr(ìi(s(èr(èmn(jm(nrnh(jès(r(up(éi(hrè(nrì(êi(éís(ñr(ji(mjnmu(ns(mw(îsè(vm(ki(îr(
r(kp(ër(ur(wi(òmp(vrî(ni(vmp(òm(îm(éèi(ñpm(vìi(ni(hìJ(rkrñ(hr(gs(ìr(ji(ñpm(um(ks(ñm(ñpsn(gs(ñl(
nlî(hi(hprn(jvmp(òi(vs(r(gs(ìi{(ZU(ôUV(Œ(C9)P9>P(V`YWX(Œ(>G@:HP(TZ\(RVY`(Œ(RCA)=>@GP(
UôQ([Y(Œ(9P9Hs(^m(sjhmv(ñpsn(gs(ñl(rkrñ(hs(pr(ìl(ji(s(ni(ès(in(oîi(jès(vm(ki(îs(jr(jhr(uîìiL
ns(mk(kus(ìi(jîm(wmk(ni(vmp(òi(vi{(¨A)Bl)fAG)RFH 4 l)>G@E)HEGAE)RAW(èm(ìs(ji(smnr(èm(mjìi(ír(ìl(èrm(èpm(r(hs(vsP(kmè(l(nr(éiv(
èmp(ñl(jl( ns(ìi( r(ws(îìi(ëin( ns(hs( ìi(krn( jîl(êrì( ñmh(ñl(ni( hprn(jvmp(òi(vs(r(gs(ìi( vm(ki(îr( jr(
roin(hsu(nsv(jl(ûè(jmv(1@G{(AFGl)fAfefF)F)P@Gl)H9)kAE):@Gl)H9CrP@E)R@Gl)J@)H@Gl)BGF)QAEr
H@Gl)=>FR)fGF)R@GJ(öhr(us(éiP(jl(ûèj(1@G(r(kp(ërm(ji(l(jpñ(jèmv(ìi(s(èl(l(sjhmv(nr(êi(nìlP(
§(
Urèm(ñpr(um(ñs(jnr(ñpr(us(îr(jpñ(jèmo(ìi(s(èr(nr(îr(ël(kr(ji(rn(oîs(gs(vs(nr(jhr(îs(rkrñ(hr(gs(ìmv(in(oîi(jèsó(
jîm(ëi(ns(gr(ês(ìs(jl(mk(nm(js(s(vi(⁄l(iîi(vi(nr(hr(ni(ñpm(sp(ns(ñs(él(èrm(ìik(nr(ps(ìiêP(vs(íi(vm(rn(oîs(gs(vi(
nr(um(ks(hs(sj(èîìl(ês(um(l(mnsv(mw(îs(gs(vr(l(èm(ìs(vr(só(nr(îr(s(vm(l(èmp(ñl(jlJ(
å( ( Surì(jl(ûèj(l(jpñ(jès(ìi(sè(lérm(ìiP(mjsv(s(in(oîi(jèmoP(s(s(nìi(vrê(èmo(s(òprn(gl(jèmo(ìi(s(èrJ(
§HI

§çM
Äı:F=CAQA)hAHıû
ñr(ji(vm(ëi(jvr(hpr(hs(snm(ur(gs(ìmv(l(vmp(òm(îm(éèmv(js(jhi(vlæ(ñm(vm(íl(nìi(or(ji(hum(pi(s(
ñji(l(km(rn(oîs(gs(vs ã (¨nñpJ(>@):9)=@Gl)H@)k@GP(AF)=>F)B@G)s(jîJP(r(l(nr(éiv(èmp(ñl(jl(ìr(uîìr(
ji(s(èmk(ìik(nmo(jèpr(íi(nmo(mw(îs(èr(¨§r@G(8(ñps(ñrk(nsè(oi(ni(pr(gs(ìi(¢J
Qn(oîs(gs(vs(nr(jhr(îs(mk(vm(ki(îr(s(ui(ki(nmo(ki(uip(wrî(nsv(jl(ûè(jmv(19:;(nrì(wpmìL
ns(ìs(jl(l(nr(éiv(èmp(ñl(jl(wmo(ui(îs(èi(ñpm(klè(hsu(nm(jhs(mumo(jl(ûè(jr(l(in(oîi(jèmv(
ìi(s(èlP(rîs(s(wmo(hm(or(éhm(jl(nìsv(s(ui(ki(ni(svi(ns(gi(êi(jhi(l(hiè(jhm(us(vr(nr(lê(nmo(
òlnè(gs(m(nrî(nmo(jhs(îr(èm(ìs(èr(prè(hi(ps(éi(ñpi(vìi(éhr(nìi(sj(èr(r(pi(êi(ns(gi(jr(oîr(om(îr(nr(
svi(ns(gl{( ¨fG@E:)=>FG)P9:;l) RC9)G9:;l) HAP)B9:;l) HA)F)G9:;l)
PAG)R@)>9:;l)G@)9:)@):E@)G9:;l)>G@):9:;)s(jîJ(Sui(svi(ns(gi(hr(èm(⁄i(mjhr(ìl(nr(ns(uml(èmvL
ñpm(vs(jni(pi(ñîs(èi(wi(s(oîi(kr(kr(ji(kr(îìi(hprn(jvmp(òi(vs(l(ìlJ â (\(èmp(ñl(jl(ji(ìr(uîìrL
ìl(s(rn(oîs(gs(vs(jr(km(vr(ísv(ki(uip(wrî(nsv(jl(ûè(jmv(1:E@(¨X@)R9)GA):E@l)P@G)HF)QA):E@l)
BF)k9)b9)F):9)GA):E@l)=RA):9)GA):E@l)>AG);@)>9)GA):E@(èm(ìs(ns(jlP(èr(èm(ji(nr(ñp(us(ñm(oîik(vm(ëi(
ês(ns(hsP(nr(jhr(îs(r(vìi(nmv(jhpr(nmo(ki(uip(wrî(nmo(jl(ûè(jr(km(vr(ísvP(uií(s(um(⁄i(nìiv(l(
ñpm(gi(jl(ji(èln(krp(ni(rkrñ(hr(gs(ìi ä P(mk(oîr(omî(jèsó(rn(oîs(gs(r(vr{(X@)R9)GA)>9l)P@G)HF)QAr
>9l)BF)k9)b9)F):9)GA)>9l)=RA):9)GA)>9l)>AG);@)>9)GA)>9 Ã )FH)PF)H@)CA)ct]cYl)o]h)j]l)OZ)aˆ)[ˆZÄl)
acTÄ)9)[Th)j][s ) õwmo(hm(or(ji(l(èmp(ñl(jl(nr(ñm(pik(nm(ìr(uîìr(ìl(mw(îs(gs(jr(jl(ûè(jmv(
19:;Ç)fAG);@)>9:;l)i9:;(s(jr(jl(ûè(jmv(1:E@{(fAG);@)>9)GAr
:E@l)i9)GA):E@J((
Xr(ji(pr(ks(m(kur(ñpm(gi(jr(èm(ìs(ji(mk(us(ìr(ìl(ni(r(us(jnm(ìi(krn(mk(kpl(omo(om(um(ps(s(
ês(nìi(ns(gr(kr(rn(oîs(gs(vs(èm(ìs(ji(ìr(uîìr(ìl(sj(èîìl(ês(um(jr(nr(jhru(èmv(19:;(l(jpñ(jèmv(
ìi(s(èl(ni(vr(ìl(oîr(omî(s(ui(kin(s(sjhmo(èm(ps(ìi(nr{(AHQ@G)>AE)k9:;l)HAP)B9:;l)HA)F)G9:;l)RC9)G9:;(s(jîJ (KM
Sk(mjhr(îsó(svi(nsê(èsó(rûè(jr(èm(ìs(ji(ìr(uîìr(ìl(l(ui(îs(èmv(wpm(ìl(l(rn(oîgs(vsL
vr(l(nr(éiv(èmp(ñl(jl(nrì(êi(éís(jl(mns(îr(hsn(jèmo(s(opê(èmo(ñm(ps(ìi(èîr{(1Ab9)EA(¨ABG@r
ã( (`s(ìi(ês(jr(jhr(uîìi(ni(mk(in(oîi(jèsó(iîi(vi(nr(hr(èm(ìi(ns(jl(ñpi(l(i(hi(s(in(oîi(jèmo(ìi(s(èrP(ìip(l(hr(èumv(
mw(îs(èl(l(in(oîi(jèmv(ìi(s(èl(ni(ñm(jhm(ìiP(uií(jl(òmp(vs(pr(ni(l(ìi(s(èl(ñps(vr(m(glJ
â( ( Vm(ñm(hup(⁄lìi(s(êsnì(ins(gr(kr(mni(kr(îìi(lîr(i(l(ki(ps(ur(gs(m(ni(ñpm(gi(ji(ñpi(vr(ñpr(us(îs(vr(jpñ(jèmo(ìi(sL
èr{(mk(nìsó(ji(nñpJ(hum(pi(ñps(kìi(us(PAG)R@)>9:;)·)PAG)R@)>9:)WR9P(RC9)G9:;)ŒRC9)G9:)WR9(s(jîJ
ä( (^ps(vrp(nr(s(ji(èln(krp(nr(rkrñ(hr(gs(ìr(jl(hip(vs(ns(èm(ìi(ìi(l(hi(m(ps(ìl(ìi(sê(èmo(ñm(jl(⁄s(ur(nìr(luim(`l(kmîò(
bs(îs(ñm(usí(¨Vi(m(ps(ìr(ìi(s(èr(l(èmn(hrè(hlP(KIäãJ(Sur(ñm(kìi(îr(ñps(vìi(nìs(ur(ìi(ni(jr(vm(l(rnr(îs(s(rkrñ(hrL
gs(ìi(rn(oîs(gs(r(vr(nr(vmp(òm(îm(éèmvP(uií(s(nr(òm(nm(îm(éèmv(s(ji(vrn(hsê(èmv(numlP(ñps(êi(vl(ñps(vrp(nr(
rkrñ(hr(gs(ìr(mw(l(óur(hr(ñi(psmk(s(ñpm(vìi(ni(èpm(èm(ìi(ñm(jl(⁄i(nr(ps(ìiê(ñpm(îr(s(mk(vm(vin(hr(lîr(jèr(km(
nìi(nmo(èm(nrê(nmo(ljur(ìr(nìr(l(ìi(s(èl(ñps(vr(m(glP(kmè(ji(èln(krp(nr(rkrñ(hr(gs(ìr(ñpik(jhr(uîìr(ñi(psmk(s(
ñpm(vìi(ni(èm(ìi(ji(ki(ér(ur(ìl(nr(èmn(éhm(ìi(ps(ìiê(ñps(vîìi(nr(l(ìi(sè(ñps(vr(îrgJ(Ri(èln(krp(ni(ñpm(vìi(ni(jl(
mwsê(nm(ps(ìih(èiP(ki(ér(ur(ìl(ji(jñm(pm(s(l(jèîr(kl(jl(jr(hin(kin(gs(ìr(vr(pr(um(ìr(ìi(s(èr(ñps(vr(m(grJ
I( ( Wi(ès(mk(nr(ñps(ìik(nr(ui(ki(nsó(oîr(om(îr(jl(ñm(hup(⁄i(ns(l(èmp(ñl(jlP(r(mjhr(îs(l(ièm(nmv(jèsv(pìiê(ns(gs(vr(s(
ñps(plê(ns(gs(vr(nr(jpñ(jèmv(ìi(s(èlJ
KM( ( ür(èm(hm(s(oîi(kr(èrk(ji(oîr(omî(ni(s(um(ks(jr(vm(jhrî(nm(uií(mk(svi(nsê(èmo(rn(oîs(gs(vr(us(ks(vm(nr(
jîìi(ki(íiv(ñps(vìi(pl(s(nr(éio(èmp(ñl(jr{(rn(oîs(gs(rv(G@E)>9:);F)QA):E@P(èm(or(wmo(s(îs(énmo(jhpr(nmo(jlL
ûè(jr(19:;(jup(jhr(ur(vm(l(èmv(ñpm(vs(jni(pi(ñîs(èiP(l(jpñ(jès(ìi(sè(lérm(ìi(ñp(um(èrm(mw(îsè(G@E)>9:;(èm(ìs(
ìi(ñm(jîl(ësm(èrm(mjnm(ur(r(òmp(vs(pr(nìi(oîr(om(îr(G@E)>9:);F)QA)>9P(mk(èm(or(ìi(r(hsv(s(ui(ki(nr(oîr(omî(jèr(
svi(ns(gr(G@E)>9:);F)QA):E@(èm(ìr(jr(kp(ës(s(in(oîi(jès(s(jpñ(jès(ki(uip(wrî(ns(jl(ûèjJ

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
=9)EA)b9)EAl) qF)>A)b9)EAl) ;CF)fA)C9)kA)b9)EAl) RA)=>F)P9)kA)b9)EAl) BG@)k@:)>A)b9)EAl) B@G)=F):A)C9)kA)b9)EAl)
=@)RE9)kA)b9)EA(s(jîJ(s(19kAP(¨P@G)RA:)>9)C9)kAPl):@F)RF:)k@G)QA)>9)kAPl)BGF)>@R)b9)F):9)kAPl)
>A)X@)G9)kAP)s(jîJP((G@1(¨G@)H9)kAE:l)G@)@R)=BFG>l)G@)9:)@):E@)G9:;P(r(l(vr(nìiv(wpm(ìl(ìmé(s(
ñpi(ûè(js(rn(hs1(¨A:)>9)HAP)B9:;P(ki1(¨H@)G@);9:;(s(jlw1(
¨=

Äı:F=CAQA)hAHıû
úOmO'*Hoz'Go'qJ'ôo'zo'HA'òo'J'yKF'ôo'JEA'pJ'qo
Wr(èmn(éhm(svi(nsê(ès(rn(oîs(gs(rv(òmp(vs(pr(mjnmu(ns(mw(îsè(l(jpñ(jèmv(ìi(s(èlP(mn(ws(
rlhm(vrh(jès(hpi(wr(îm(kr(ñpi(l(vi(s(jui(mw(îs(èi(svi(nsê(èi(ñr(pr(kso(vi(hìJ(kr(ji(lèîìl(ês(
l(js(jhiv(vnm(ës(ni(svi(ns(gr(s(ki(èîs(nr(gsì(jès(js(jhivJ(
ci(îs(èr(ui(ís(nr(svi(ns(gr(èm(ìi(jl(r(up(és(îi(ñpm(gij(òm(nm(îm(éèi(rkrñ(hr(gs(ìi KH (s(rkrñ(hrL
gs(ìi(mjnmu(nmo(mw(îs(èr(sn(hi(ops(jr(ni(jl(s(l(js(jhiv(ki(èîs(nr(gs(ìi(s(vnm(ës(niP(r(us(jnm(mk(
pm(kr{(¨A;@:>l)A;@:)>9l)A;@:)>FPÜ)C9)H@Gl)C9)H@)G9l)C9)H@)GFPÜ)RC9)G9:;l)RC9)G9:)k9l)RC9)G9:);FPÜ)
BA)>@G):Al)BA)>@G):@l)BA)>@G):FP(shkJ(Vm(jl(loîru(nmv(rn(oîs(gs(vs(s(mñ(éhi(s(hip(vs(nmL
îm(os(m(ur(ni(îiè(js(èi(¨A;@:)b9)EAl)fFE)RF>l)H9)C@Gl)fA)G@Cl)C9)H@Gl)X@Rl)f9)k:9=l)=BF:)kFGl)>9Pl)
>G@:H(s(jhr(ps(ìs(ljèm(jhplê(ns(hip(vs(ns(¨fAG)>@Gl)HF)f@Gl)H@)G9)QA>l)qF)>A)b9)EAl)RC9)G9:;l)=>FRl)
>G(s(jîJ(Sui(jl(svi(ns(gi(ñmh(ñl(nm(rkrñ(hs(pr(nìi(ìip(ni(jr(vm(kr(km(ws(ìr(ìl(jui(mw(îs(èi(
svi(nsê(èi(ñr(pr(kso(vi(uií(kr(îìi(lîr(i(l(ñpm(gij(s(um(⁄i(nìr(ps(ìi(ês(ñpi(vr(ñpr(us(îs(vr(
jpñ(jèmo(ìi(s(èr{(C9)H@G)1)C9)H@G)=R9l)RC9)G9:;)1)RC9)G9:)WR9l)X@R)1)X@)RFQ):9l)fG@:H)r)fG@:)H9r
GA)>9(s(jîJ
Wr(jhru(èi(r(ñr(ki(ëi(s(vnm(ës(nl(km(ws(ìr(s(ui(ís(nr(nm(us(ìsó(rn(oîs(gs(r(vr(s(jhplê(ni(
îiè(js(èi( èm(ìs( ns(jl( lus(ìiè( òm(nm(îm(éès( rkrñ(hs(pr(nsP( r( hr(èus( jl( l( nr(éiv( èmp(ñl(jl( omL
hm(us( jus( nm(us(ìs( rn(oîs(gs(vs( s( mñ(éhi( jhplê(ni( s( ljèm(jhplê(ni( îiè(js(èi( ümk( mur(èusó(
ji(svi(ns(gr(nr(jhru(gs(km(kr(ìl(ni(ñm(jpik(nm(nr(ni(r(krñ(hs(pr(nl(mjnm(ul(¨fAfe1fF)F)P@)G9l)
f@:)bJPAG)RFPl) ;F)FH)g9C)CAl) Ä@g) ^@)A)CAl) erAlRF)B9)GAE)>FPSbFBeG9;J>rFPl)9:)BAS9:)BrAl)P9R)=FPSP9ñrFPSP9)ñFPl);@)BF)QA)
;ABrFQA(s(jîJ
KH( (^m(éhm(ìi(nré(èmp(ñlj(jr(jhr(uîìin(sj(èîìl(ês(um(mk(ñs(jr(nsó(hiè(jhm(urP(r(svr(ìl(ís(l(us(kl(kr(ìi(jpñ(jès(ñprL
um(ñsj(òm(nih(jèsP(ìi(ks(ns(lusk(l(òm(nm(îm(éèl(rkrñ(hs(pr(nmjh(rn(oîs(gs(vr(vm(ëi(nrv(ñpl(ës(hs(nr(êsn(nìs(óm(umo(
ñs(jvi(nmo(ñpik(jhr(uîìr(nìr(l(hiè(jhlJ(Rhm(or(opr(òm(îm(éèl(rkrñ(hs(pr(nmjh(rn(oîs(gs(vr(mu(kìi(ljîmu(nm(s(ìikL
nr(êr(ur(vm(jr(òm(nm(îm(éèmvJ
§çH

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
ümp(ñlj(jr(kp(ës(êrè(êi(hp(ki(jih(îiè(ji(vr(ñpik(jhr(uîìi(nsó(s(ump(nsv(in(oîi(jèsv(mwL
îs(gs(vr(èmì(ni(km(ws(ìr(ìl(nr(jhru(èi(r(ñr(ki(ëiP(ñr(nìs(óm(ur(lñm(hpi(wr(l(hiè(jhl(pi(lî(hs(pr(
ni(opr(vr(hsê(nsv(pi(êi(ns(gr(vr{
K( ºmh(ñsj(om(mk(sîî(hm(èmv(upi(vi(nrº 13
H( ºmvm(ol(ír(ur(îrè(és(s(és(ps(ñps(jhlñ(ènmLóm(º 14
ç( ºl(vm(kip(nmv(ñl(wîsg(pi(îr(hs(mnj(jui(ìi(ui(ís(wpmìº Kå
§( JJJèmn(hpm(îs(jr(nìi(l(hm(èl(rè(gs(ìi(nrk(vmí(ns(ìi(ìi(ìip(ji(r(jns(ur(nr(òi(ik(òmp(rpk(
s(ljr(oîr(éi(nm(ìi(jrº Kã
Su(kìi(ji(ui(ís(nmv(pr(ks(m(jîm(ëi(ns(gr(vr(s(mwîr(jhs(jhplê(ni(îiè(js(èi(èm(ìi(mnr(êr(ur(ìl(
nm(ui(ñmì(vm(ui(s(pr(îs(ês(hsó(ièm(nmv(jèsó(mwîr(jhsP(nrì(êi(éíi(vi(nrkë(vin(hr(s(vrp(èiL
hsn(orP(vr(kr(jl(r(ws(îìi(ëi(ns(s(jîl(êr(ìi(us(lñm(hpi(wi(in(oîi(jèsó(vm(ki(îr(s(ñmk(plê(ìr(mñL
éhio(îiè(js(èr(èm(ìs(l(jpñ(jèmv(ìi(s(èl(uií(svr(ìl(rki(èurh(nl(r(vìi(nl{
å( JJJrp(ós(hiè(hmn(jès(ks(rìnP(mkp(ër(ur(nìi(s(ês(jhm(ír(òr(gs(îshïJ Kâ (¨vs(jîs(ji(nr(jñmphL
jès(mwìi(èrh
ã( Wrì(ñm(nr(hs(ìr(opm(lñ(r(pi(ñîrh(òmp(vr(ìi(Zm(hlj(Wm(hij(èm(ìr(èmv(ws(nl(ìi(wr(l(
ñm(kr(hr(èrP( oplñ(ns( èr(îin(krpP( iîiè(hpmn(jèl( ñm(éhl( s( mp(è¿mJ Kä ( ¨prk(ns( ñpmL
gij
^p(ísí(¨HMMå{(KHç(mur(èui(mw(îs(èi(jvr(hpr(jr(vm(sn(ks(us(kl(rî(nsv(sn(hip(ñm(îr(gs(ìrL
vr(iîi(vi(nr(hr(in(oîi(jèmo(ìi(s(èr¥P(kmè(mni(èm(ìs(jl(hiè(kìi(îs(vsê(nm(sn(hi(ops(jr(ns(nr(
vmp(òm(jsn(hrè(jsê(èmv(s(òm(nm(îm(éèmv(ñîr(nlP(r(mp(hm(oprò(jès(jl(ñmh(ñl(nm(ni(ñps(îr(om(⁄i(nsP(
nr(s(ur(js(pm(usv(rn(oîs(gs(vs(vrJ(cs(kr(êsí(¨HMMH{(KHç(ñmh(ñl(nm(ni(r(krñ(hs(pr(ni(mw(îs(èi(
nr(s(ur(ñm(êih(nsv(ñm(rìv(îìi(ns(gr(vr(¨inoJ(sns(hsrî(wmp(pm(sno(pr(îs(èl(ìl(ís(só(hr(èm(mk(
ñpr(usó(ñm(rìv(îìi(ns(gr(¨inoJ(wmp(pm(sno(ñpm(ñipJ(^m(éhm(ns(jl(ns(hs(r(ñm(êi(îi(ñpm(gij(
rkrñ(hr(gs(ìi(l(jpñ(jèmv(ìi(s(èlP(ñpi(vr(bs(îs(ñm(us(íi(umì(hi(m(ps(ìs(îsn(ous(jhsê(èmo(ñm(jl(⁄l(urL
nìrP(hr(èui(îiè(ji(vi(ìmé(ni(vr(ìl(jhr(hlj(èmv(ñpm(vs(jni(pi(ñîs(èi(s(ni(lîr(i(l(èîr(js(û(èrL
gs(ìl(rkrñ(hs(pr(nm(jhs(rn(oîs(gs(r(vrP(uií(jl(ksm(ñpm(gi(jr(mnr(êi(nmo(èrm(ñpi(wr(gs(ur(nìi(
èm(kr(¨gm(kiLjshgósnoJ(`r(ks(ji(m(nr(s(vìi(nsê(nmì(lñm(hpi(ws(kur(pr(îs(ês(hr(ìi(s(èr(lnlL
hrp(ìik(nmo(sj(èr(rP(r(nr(s(ur(ji(ìmé(s(vs(ìi(ér(nìi(èm(km(ur KI J(
13( (`J(Zl(èsíP(hA)XQF)F=9);@P)9)BF)C9)>9)RAP(cs(ér(ñm(jîmu(nr(éèm(îrP(ai(m(oprkP(HMMMP(jhpJ(çKHJ
Kã( ( WJ(ar(îr(wrn(s(J(`s(jhsíP(OF)=CFQ):A)9:)>@)C9);@:)b9)EAP(Yèm(nmv(jès(òr(èlî(hih(l(Rl(wm(hs(gsP(Rl(wmh(grP(HMMãJ(jhpJ(
KâJ
Kâ( ( J(Zìl(wm(ìi(usíP(o@):AH)P@:>)9)PAG)R@)>9:;)@)C9);@:)b9)EAP(Yèm(nmv(jès(òr(èlî(hih(l(Rl(wm(hs(gsP(Rl(wmh(grP(HMMãJ(jhpJ(
åMJ
KI( ( Wi(ès(rlhm(ps(¨cs(kr(êsí(HMMH{(KHH(pr(îs(èl(ìl(vs(ìi(ér(nìi(èm(km(ur(¨nr(s(vìi(nsê(nl(lñm(hpi(wl(kur(èm(kr(
lnl(hrp(pi(êi(ns(gi(inoJ(gm(kiLvs(sno(mk(ñpi(wr(gs(ur(nìr(èm(kr(¨nr(s(vìi(nsê(ni(lñm(hpi(wi(pi(êi(ns(gr(sj(èrL
433

Äı:F=CAQA)hAHıû
ôs(ìi(ér(nìi(èm(km(ur(ìi(vnm(om(èr(prè(hi(ps(jhsê(ns(ìi(r(om(ump(ns(ni(om(r(ñs(jr(ns(viL
ksì(s(ni(òmp(vrî(ns(us(éi(ni(om(òmp(vrî(ns(jhsîJ(\hm(îs(èm(us(éi(s(ni(nr(⁄l(ìi(ês(nìi(ns(gr(kr(ji(
l(nr(éiv(èmp(ñl(jl(ìr(uîìr(hr(èm(ui(îs(ès(wpmì(ñmh(ñl(nm(ni(r(krñ(hs(pr(nsó(in(oîi(jèsó(mw(îs(èrJ(
\êi(jhr(îr(ñm(ìr(ur(vs(ìi(ér(nìr(èm(km(ur(loîru(nmv(ji(jvr(hpr(ñm(jîìi(ks(gmv(sniph(nm(jhs(omL
ump(ns(èr(kr(jhpr(ni(ìi(sê(èi(ìi(ks(ns(gi(ñps(îr(om(ki(ìi(s(èl(ñps(vr(m(gl(sîs(r(nìsó(nr(⁄l(rkiL
èurh(nl(r(vìi(nlJ(ôi(⁄l(hsvP(l(ìi(s(èl(jhpl(èi(rlhm(ps(ji(êi(jhm(juìi(jnm(mñpi(kìi(îìl(ìl(r(
s(ump(ns(mw(îsèP(jvr(hpr(ìl(ís(kr(íi(jr(vm(hr(èru(ws(hs(ñpi(ñm(nrh(mk(jhpr(ni(mnsó(èm(ìs(vr(ìi(
hièjh(nr(vìi(nìinP(hi(kr(ws(ñpi(um(⁄i(nìi(hip(vs(nr(nr(jpñ(jès(ìi(sè(ñpik(jhr(uîìr(îm(km(krh(nl(
èmv(ñîs(èr(gs(ìl(s(iuin(hl(rî(nm(um(ks(îm(èr(r(wl(ns(l(nìi(om(umì(lñm(hpi(wsJ HM (
434
úOuO'*Hoz'Go'qJ'ôo'DBF'òA'pJ'qo
Rîr(or(nìi( ìi( ìi(krn( mk( nrì(ñpm(klè(hsu(ns(ìsó( hump(wi(nsó( ñpm(gi(jr( in(oîi(jèmo( ìi(s(èr(
okìi(nìi(om(ur(rnr(îs(hsê(èr(ñps(pm(kr(km(îr(s(km(ñl(nmo(s(pr(ër(ìrJ(R(kpl(oi(jhp(pr(niP(jsn(hiL
hsê(ès(ìi(s(gs(ñm(ñlh(jpñ(jèmo(s(mjhr(îsó(jîm(uin(jèsó(ìi(s(èr(jîr(or(nìl(ns(jl(nr(pm(ês(hm(jèîm(nsJ(
öhr(us(éiP(ñpr(ui(jîm(ëi(ns(gi(¨jñm(ìi(us(kus(ìi(sîs(us(éi(ps(ìi(ês(mk(nm(jnm(mjnm(urP(ji(vrn(hsê(ès(
pi(îr(hsu(nm(jr(vm(jhrî(nmo(jvs(jîrP(vi(⁄l(jmw(nm(jñm(ìi(nsó(jr(vm(oîr(jns(èmv(s(l(ñs(jr(nìl(
ñpik(jhr(uîìi(nsó(èrm(ìik(nr(ps(ìiê{(wîr(hm(wprnP(pm(km(îìlwP(wr(jnm(ñs(jrg(jvr(hpr(ìl(ji(ìi(ksL
nsv(rlhmó(hm(nsv(l(jpñ(jèmv(ìi(s(èlJ(¨Rhi(ur(nm(usí(KIãH{(HçILH§Mæ(ar(psí(KIâI{(Hççæ(
dîi(wig(KIIã{(KçIæ(üîrìn((KIIã{(KHHJ(
Yn(oîi(jèi( jîm(ëi(ns(giP( mk(nm(jnm( vm(ki(îs( jr(jhr(ur( RZS(aSX(WQ( ôS`(bY(ôQ( ¡(
RZS(aSX(WQ(ôS`(bY(ôQ(l(jpñ(jèmv(ìi(s(èl(ièm(nmv(jèi(jhpl(èi(rkr(ñ(hspr(ìl(ji(nr(
kur(nr(ês(nr{(K(èrm(vm(nm(vmp(òiv(jèi(ps(ìi(ês(ñm(ñpsn(gs(ñl(nlî(hi(hprn(jvmp(òi(vs(r(gs(ìi{(
f@:)XPAGRl)f9C)fFGHl)RF)B9)GAE>l)9:)B(s(jîJ(H(sîs(ñpi(um(⁄i(nìiv(nr(jpñ(jès(ìi(sè(8(ñpm(giL
jmv(èm(ìs(ji(nr(s(ur(èrî(ès(pr(nìiJ( HK (
Rpñ(jès(ìi(sè(prj(ñm(îr(ëi(jr(ni(èm(îs(èm(hump(wi(nsó(mwpr(r(gr(èm(ìs(vr(ji(ñpm(s(um(ki(
jîm(ëi(ni(îiè(jsê(èi(ìi(ks(ns(gi(vi(⁄l(èmì(vr(jl(nrì(ñpm(klè(hsu(ns(ìs(^`'(XeYc(¡('ôY(W'(TQ(
r(nsó(pr(îs(ês(hsv(èm(km(us(vr(inoJ(gm(kiLjshgósnoJ(^m(éhm(vs(l(nr(émì(rnr(îs(s(ni(ski(vm(kr(îìi(mk(îièL
jsê(èmo(ns(umrP(l(nr(jhru(èl(íi(vm(èm(ps(jhs(hs(hip(vsn(vs(ìi(ér(nìi(èm(km(urJ
HM( ( WñpJ(l(ìik(nmv(lkë(wi(ns(èl(ñps(ñp(umv(ñm(vs(nìr(nìl(hip(vs(nr(îi(ui(pr(oi¥(s(rlhm(pm(ui(nr(ñm(vi(ni(kr(hi(l(
òl(jnm(hs(r(èîìl(êl(ìi(vm(kr(ji(mu(kìi(ni(pr(ks(m(ñm(jl(⁄i(ns(gs(ñm(snip(gs(ìs(sîs(îìi(nm(jhsP(uií(m(s(wm(pl(rlhm(pr(
kr(ñm(pik(ñm(nl(⁄i(nmo(ñpi(um(kr(èm(ps(jhs(s(ump(ns(mw(îsèJ{(¥)f

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
¨nñpJ(mjnmu(nr(éèm(îrP('ôY(W'(TQ K(
¡('ôY(W'(TQ H(\([Y(W'(V'(c\
(¨nñpJ(up(és(îrg(kl(ënm(jhs(s(
'ôY(W'(TQ(¡(^`'(eY(XZS[(¡('ôY(W'(TQ(¨nñpJ(éhrñ(r(ñi(gr(nìiJ
ür(èm(ìi(hump(wi(ns(mwpr(rg(^`'(XeYc(¡('ôY(W'(TQ(r(ìik(nsê(ès(r(mwr(ìi(s(èrP(hm(
ji(in(oîi(jès(vm(ki(îs(jr(mur(èumv(jhplè(hl(pmv(ñpi(nm(ji(wi(ñm(hi(éèm(ír(¨sP(l(nr(éiv(
èmp(ñl(jlP(wi(s(l(i(hr(èr(l(jpñ(jès(ìi(sè{(QR'QW(V'([Y`R(Œ(Ak9E)=R9)>9);GF)Q9P(d\L
ôQW(`Y(RS(\`(TYR(Œ(CEGF:)=RA)>G);F)Q9):A(s(jîJ(
Xpl(os( ñm( ñpm(klè(hsu(nm(jhs( l( nr(éiv( èmp(ñl(jl( ìi( hump(wi(ns( vm(kiî( 'ôY(W'(TQ K(
¡(
'ôY(W'(TQ H(\([Y(W'(V'(c\
(èm(ìsv(ji(ñpi(nm(js(mh(ñps(îs(èi(hpi(ís(nr(in(oîi(jèsó(vm(ki(îr(hum(pi(nsó(
ñm(mwpr(jgl('ôY(W'(TQ 1
(¡('ôY(W'(TQ H((
èm(ìs(ìi(jhprn(jpñ(jèmv(ìi(s(èl{(XY(T'(R'SW(
ôQ(üY`R(Œ(HF):F)=9)F)b9)FH)CQF)RA)B9)>A)CAP(üWS©L
ZYX([Y(ôQ(WQ([Y(ôYWV(Œ(P@):AH)P@:>)k:A):EAP(V`YYLd\[([Y`(Œ(FfF)A)QAr
>@CE)=>A)fA)CA(s(jîJ((Sjhr(îs(in(oîi(jès(vm(ki(îs(hum(pi(ns(ñm(mumv(mwpr(jgl(l(jpñ(jès(ji(ìi(sè(
ñpi(nm(ji(nìi(om(usv(nrì(ñpm(klè(hsu(ns(ìsv(vm(ki(îmv(^`'(XeYc(¡('ôY(W'(TQ{('W(VYL
`YRV([`S(\^(8(9:)>@)G@)=:A);G9J(Sk(êi(hs(ps(nr(ui(ki(nr(ñps(vìi(pr(
hps(ji(nr(îr(i(s(l(nr(éiv(èmp(ñl(jl(rîs(jr(kpl(or(ês(ìmv(jhplè(hl(pmv{(RQFl)
=>9P(kmè(ìi(vm(kiî(Y¢'V(^SZZ(êrè(mjhr(uîìin(l(mps(os(nrî(nmv(mw(îsL
èl(¨vr(kr(l(vi(ks(ìs(vr(êi(jhm(êl(ìi(vm(èmn(jhplè(gs(ìl(9k)CA)k:A)A:)R@)>AP(éhm(nrj(lñl(íl(ìi(
nr(r(èîìl(êrè(kr(jhplè(hl(pi(jr(ñps(ìi(kîm(omvP(srèm(ñpm(sp(ns(ìiP(ñr(jr(vsv(hsv(s(ìr(jns(ìi(s(
ñpi(gs(ns(ìiP(ljhl(ñr(ìl(vìi(jhm(kpl(osv(kur(vr(hump(wi(nsv(vm(ki(îs(vrP(mk(nm(jnm(ìr(jnm(ír(
s(ñpi(gs(nmjh(s(pr(r(ñm(uîr(êi(ji(ñpik(r(óhìi(umv(r(nìi(om(umv(ièm(nm(vsê(nm(éílJ(
Rr(vm(kur(èrî(èr(s(nr(éio(èmp(ñl(jr(uìip(nm(ñpi(nm(ji(jhplè(hl(pl(in(oîi(jèi(jîm(ëi(ns(gi(
'ôY(W'(TQ 1
(¡('ôY(W'(TQ HJ((
Vm(jl({G)PA)PAE)RA(s({G)PA)Rû@G)RA(mk(inoJ(ôSV(dY`(
TSô(^QW†(s(XQ(\[(dVY`(TSô(^QW†(Sui(us(éiê(îr(ni(îiè(ji(vi(srèm(mw(îs(èmv(
ñmk(jìi(ír(ìl(nr(rñm(s(hsu(ni(jîm(ëi(ns(gi(ñm(ñlh(oprkLkp(ër(ur(¨oprk(èm(ìs(ìi(lìik(nm(s(kp(ërL
ur(èrm(éhm(jl(ws(îs(opê(ès(ñm(îs(js(ni(sj(èr(l(ìi(sjhs(ji(vrn(hsê(ès(mk(nmj(s(vi(⁄l(iîi(viL
nr(hrJ(v9G)PA)PAE)RA(ns(ìi(sjhm(upi(vi(nm(s(ûp(vr(s(vrì(èrP(uií(ji(pr(ks(m(ûp(vs(èm(ìr(ìi(
mjns(urê(kpl(oi(ûp(viJ(^pi(gs(ns(ìs(èrîè(èm(ìs(ws(sjhm(upi(vi(nm(wsm(s(us(éi(l(kl(ól(jpñ(jèmo(
ìi(s(èrP(r(hm(nr(ês(jèm(urn(ñpi(vr(ñpm(klè(hsu(nmv(hump(wi(nmv(mwpr(jgl(^`'(XeYc(¡(
'ôY(W'(TQP(oîr(jsm(ws(PA)>9X):A){G)PA(£(PA)>9X):F)BG@H)9X):A)BCF)XA)mk(inoJ(vm(ki(îr(ôSV(dY`(aS(Q`X(s(mwîr(jhs(èmv(ñìl(hip(jèi(
§çå

§çã
Äı:F=CAQA)hAHıû
hió(nm(îm(os(ìiJ(ôm(ol(íi(ìi(kr(jl(èrî(èm(us(mw(îs(èm(ur(ns(lñpr(um(èr(èm(ìi(jl(ìip(svi(ns(gr(
s(sjhmo(ji(vrn(hsê(èmo(ñm(îìr 22 ){G)PA)=@)=>GAl)¨R'(RVY`(TSô(^QW†(ñpi(vr(vm(ki(îl(
^`'(XeYc(¡('ôY(W'(TQ(¨=@)=>G9:)=RA){G)PA(ni(ul(ês(èrm(vnm(om(jpih(ns(ìi(pìi(éi(nìi(
kmè(èrîè({G)PA)û@G)RA(ñpi(vr(sjhmv(mwpr(jgl(ns(ìi(ns(vm(ol(íi(jèm(ur(hsJ(
cr(îìr(sj(hr(ís(kr(ji(s(mu(kìiP(èrm(s(kpl(okìi(l(èmp(ñl(jlP(nr(ñm(pi(km(ìr(uîìr(ìl(rkrñ(hs(pr(ns(
s(ni(r(krñ(hs(pr(ns(mw(îs(gs(sjhsó(rn(oîs(gs(r(vrP(ñr(hr(èm(svr(vm{(bA)=@)=>G@@)s)
HG)QF)FH)CAGl) ;G9:r{CH) 9:)Q@)=>9)b9)EAl) ;G@E=) B@)G9FHl) B@::e)
AR)b9)EAl)=>A:Hfe)RG@)H9>l)HA)>A)BGF)b@)=9)GA):E@l)bACC)FB)b9)EAl)X@R)C9)=>AP(ñr(ji(nr(s(ur(ìl(ìmé(
s(ñm(îl(ñpi(ui(ki(ns(giP(r(ni(èi(jl(jèm(ur(ni(hr(èm(éhm(ìi(in(oîi(jèmv(vm(ki(îl(rlhm(nmv(nm(
ñps(km(kr(hr( îiè(ji(vr( s( jpñ(jèmo( ìi(s(èr( ¨f)=Fi>)Q@GP(iAb)>F)G9:;)BF)=CF)Q9J(õnr(êinì(jèr(ui(r(s(vi(⁄l(
iîi(vi(nr(hr(r(jnm(ur(nr(ìi(nr(ós(ñm(ns(vs(ìsP(ñps(êi(vl(in(oîi(jès(iîi(vinh(jhm(ìs(èrm(ps(ìiê(
jr(jñi(gs(ûê(nsv(nr(êi(nìiv(l(mk(nm(jl(ñpi(vr(km(vr(íiv(iîi(vin(hl(jr(mñ(éhsv(nr(êiL
HH( (^mk(ji(vrn(hsê(èsv(ñm(îìiv(mu(kìi(ñmk(pr(l(vs(ìi(ur(vm(jèlñ(ps(ìi(ês(s(s(pr(r(èm(ìs(hum(pi(hi(vrh(jès(ns(s(èmL
ìs(l(jum(ìmì(lèlñ(nm(jhs(ñm(èps(ur(ìl(mk(pi(⁄i(ns(jio(vinh(jhurp(nm(jhs(¨ñpi(vr(`J(Rs(vimnP(Yn(gs(èîm(ñi(ksì(jès(
pìiê(nsèº(UUP(jhpJ(IçLI§J
Hç( ( Surì(mwpr(rg(jîr(or(nìr(ps(ìi(ês(wi(jñmì(nmo(um(èr(îr(èm(js(ji(jr(ñps(gs(ñs(vr(jîr(or(nìr(ps(ìi(ês(l(jpñ(jèmv(
ìi(s(èlP(rîs(ìi(nìi(om(ur(ñpm(klè(hsu(nmjh(nr(oîm(ñm(pr(jîr(jr(lîr(jèmv(nìi(vrê(èsó(s(in(oîi(jèsó(jîm(ëi(ns(gr(l(
jpñ(jès(ìi(sèJ

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
nìivJ(Surì(hump(wi(ns(vm(kiî(ìi(l(ìi(s(èl(ièm(nmv(jèi(jhpl(èi(és(pm(èm(ñps(óur(íin(ìip(ni(
jr(vm(kr(r(km(um(îìr(ur(ñm(hpi(wi(èm(ìl(rlhm(ps(ñm(èr(l(ìl(r(mêl(ur(nìiv(s(ump(nmo(mw(îs(èr(
in(oîi(jèmo(hip(vs(nr(mwi(wìi(⁄l(ìl(ís(hr(èm(nìi(om(ul(sn(hip(nr(gs(m(nrî(nmjh(uií(wîs(ëi(mk(piL
⁄l(ìi(ñm(ìrv(m(èm(vi(ìi(ps(ìiê(¨>GA)H@rFii)A:A)C9)kA(ìi(up(jhr(rnr(îs(iP(=Q9B)H@)BF)k9>(up(jhr(
ki(ñm(s(hrP(fAb)Rq

Äı:F=CAQA)hAHıû
ìi(ñps(vìi(hsm(üîrìn(¨KIâK{(KK§(rjs(vs(îr(gs(ìr(jóur(hr(èrm(ìik(nr(èr(s(m(ñr(êi(nìl(s(kr(ji(
r(hm(s(wìi(or(ur¥J
Wrì(ui(ís(lhs(grì(in(oîi(jèmo(ìi(s(èr(èmk(svi(nsê(èsó(rn(oîs(gs(r(vr(nr(jhr(îsó(mk(jîmL
ëi(nsó(in(oîi(jès(vm(ki(îr(us(kîìsu(ìi(l(ós(ñip(ñpm(klè(gs(ìs(ós(wpsk(nsó(ñm(îl(jîm(ëi(ns(grJ(Surì(
hump(wi(ns(vm(kiî(ñpik(jhr(uîìr(ni(èl(up(jhl(èmv(ñpm(vs(jr(s(vi(⁄l(hi(ënìi(rlhm(pr(kr(rL
kp(ës(s(ump(ns(mw(îsè(hip(vs(nr(s(r(óhìi(ur(jpñ(jèmo(ìi(s(èr(r(òmp(vrî(nmv(rkrñ(hr(gs(ìmv(
ps(ìi(ês(ñr(ìi(és(pm(èm(ñps(óur(íin(l(ìi(s(èl(jhpl(èiJ(
Sk(mjhr(îsó(vi(hm(kr(rkrñ(hr(gs(ìi(jîm(ëi(nsó(vm(ki(îrP(nrì(êi(éíi(ji(èm(ps(jhi(èrî(ès(pr(nìi(
s(rkrñ(hr(gs(ìr(nlî(hmv(hprn(jvmp(òi(vs(r(gs(ìmvJ(`i(lî(hrh(èrî(ès(pr(nìr(in(oîi(jèsó(jîm(ëi(nsL
gr(jl(òpr(ni(îiè(ji(viP(opr(⁄i(ni(loîru(nmv(ñpi(vr(kur(nrì(ñpm(klè(hsu(ns(ìr(hump(wi(nr(
mwpr(jgr( l( jpñ(jèmv( ìi(s(èl{( ^`'(XeYc( ¡( 'ôY(W'(TQ( s( 'ôY(W'(TQ K(
¡( 'ôY(W'(TQ H(
\([Y(W'(V'(c\ P(kmè(ìi(ñpi(nm(éi(nìi(s(l(ih(nm(ñpm(klè(hsu(nmo(in(oîi(jèmo(mwpr(jgr('ôY(W'L
CA 1
(¡('ôY(W'(TQ H
P(km(jèm(pr(ni(ñm(nr(hmo(l(jpñ(jèmv(ìi(s(èlP(r(ws(îìi(ëi(nm(jr(vm(l(
kur(jîl(êr(ìrJ(ümk(rkrñ(hr(gs(ìi(nlî(hmv(hprn(jvmp(òi(vs(r(gs(ìmv(in(oîi(jès(jîm(ëi(ns(vm(kiî(
rkrñ(hs(pr(ji(èrm(vm(nm(vmp(òiv(jèr(ìi(ks(ns(gr(ês(ìr(ji(vm(hs(us(jr(nmjh(l(jpñ(jèmv(ìi(s(èl(
ñmh(ñl(nm(ol(wsJ
Rpñ(jès( vmp(òm(îm(éès( js(jhiv( svr( èr(ñr(gs(hi(hi( kr( rvmp(hs(l(ìi( jui( pr(îs(èi( s(vi(⁄l(
jumo(s(js(jhi(vr(in(oîi(jèmo(ìi(s(èrP(mk(nm(jnm(kr(rn(oîs(gs(vi(l(ñmh(ñl(nm(jhs(rkrñ(hs(prP(ñr(
s(ñm(pik(hm(or(ji(l(ìi(s(èl(ièm(nmv(jèi(jhpl(èi(ìr(uîìr(ìl(kìi(îs(vsê(nm(sîs(ñmh(ñl(nm(ni(r(krñL
hs(pr(ns(rn(oîs(gs(vsJ(Uvr(ìl(ís(l(us(kl(mèmî(nm(jhs(ñmk(èm(ìs(vr(ji((up(és(ñm(rìv(îìs(ur(nìi(l(
ìi(s(èl(jhpl(èi(lhup(ks(îs(jvm(kr(jl(ñpi(ñpi(èi(èr(ñmh(ñl(nmì(rkrñ(hr(gs(ìs(rn(oîs(gs(rvr(nr(
vmp(òm(îm(éèmv(ns(uml(loîru(nmv(s(urn(îsn(ous(jhsê(èi(ñps(pm(kiJ(Qkrñ(hr(gs(ìr(ñm(jl(⁄i(ns(gi(
ìi(kl(om(hpr(ìrn(ñpm(gijP(ñm(jiw(nm(l(ìi(s(èl(jhpl(èi(okìi(ñm(jhm(ìs(mh(ñmp(èr(vs(ìi(nìr(nìl(
mps(os(nrî(nmo(s(sn(hip(nr(gs(m(nrî(nmLñpi(ñm(rn(hîìs(umo(in(oîi(jèmo(vm(ki(îrP(r(ñps(îsu(nm(usó(
jhplê(nsó(hip(vs(nr(s(mwîr(jhs(ièm(nm(vs(ìi(sn(hin(su(ns(ìs(ìi(ni(om(sèrkJ(ôi(⁄l(hsvP(nr(ñmL
pik(nr(lñm(hpi(wr(rkrñ(hs(pr(nsó(s(ni(r(krñ(hs(pr(nsó(mw(îs(èr(sjhmo(rn(oîs(gs(vr(èrm(ìik(nr(mk(
wsh(ns(ìsó(èr(prè(hi(ps(jhs(èr(ìi(s(èr(ièm(nmv(jèi(jhpl(èi(js(ol(prn(ìi(nrè(kr(ìi(js(jhiv(jpñL
jèmo(ìi(s(èr(l(jhr(nìl(kr(ji(mk(l(ñpi(vmp(òm(îm(éèsv(lhs(gr(ìs(vr(èm(ìs(km(îr(i(jr(in(oîi(jèsv(
ñm(jl(⁄i(ns(gr(vrP(rîs(ñmk(ljîm(umv(kr(l(hm(vi(svr(ñm(kp(éèl(ìi(s(èm(jîm(ur(grP(ñpik(vihL
nsó(jhplê(nìr(èrP(r(r(hsv(s(mjhr(îsó(èm(ìs(ji(ièmnmv(jèmv(hip(vs(nm(îm(os(ìmv(jîl(ëi(s(ws(îm(
èmo(pr(îm(orJ(
,1)-3*)43*
arlipP(ZJ(¨KIäçJ(]:;C9=J)_FGHriFGPA>9F:J(Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjJ
arpsíP( YloinsìrJ( ¨KIâIJ( OG9G9RA) JGQA>=RF;) R:E9@Q:F;) E@k9RAJ( õropiw{(
öèmîjèr(ènìsorJ
alorpjèsP(`rnèmJ(¨HMMçJ(ä@k9R)9)C9:;Q9=>9RAJ(aimoprk{(somìr(éhrvñrJ
§çä

ôS`bSZSöüQ(^`UZQ[S´YWSRV(UôYWUüUd(QW[ZUTUõQôQ(\(JJJ
]:b9RCFB@H9E=R9)GE@X:9R)C9:;Q9=>9XR9J):Ak9QAP(U(s(UU(hmvJ(¨KIãIJ(¨\piknsè{(`sèrpk(RsvimnP(
õropiw{(ôrhsgr(ópurhjèrJ
bsîsñmusíP(`lkmîòJ(¨KIIMJ(T:;C9b9kP9)=RFP)9C9)=GB=RFP)E@k9R

Äı:F=CAQA)hAHıû
H;HDKB7>7#87:;?
ôS`^dSZS[UTQZ(QXQ^VQVUSW(Sb(WSôUWQZ(QW[ZUTURôR(
b`Sô(YTSWSôUT(`Y[URVY`(UW(RY`aUQW(ZQW[\Q[Y
Rlvvrpï
Vói(sngpirjsno(wmkï(mò(rnoîsgsjvj(mò(igmnmvsg(piosjhip(sn(Ripwsrn(îrnolroi(sj(kspighîï(
îsnèik(hm(glîhlprî(kmvsnrngi(mò(YnoîsjóLjñirèsno(gmlnhpsij(rnk(hói(rjhmnsjósno(ñpmopijj(
sn(hói(ûiîk(mò(gmvvlnsgrhsmn(higónmîmosijJ(Zrnolroi(jhrnkrpksrhsmn(órj(ñpmuin(lnrwîi(
hm(èiiñ(ñrgi(shó(hói(sn¿m(mò(rnoîsgsjvj(snhm(Ripwsrn(îrnolroi(ósgó(pijlîhj(sn(rpwsL
hprpsnijj(sn(hói(lji(mò(rnoîsgsjvj(rnk(r(urpsihï(mò(gmvñpmvsji(piñîsgrj(mò(hói(jrvi(vmkiîP(
vmjhîï(mn(hói(mphómoprñósg(rnk(vmpñómîmosgrî(îiuiîJ(Un(hósj(rphsgîi(i(jóm(hói(hïñi(rnk(
îiuiî(mò(vmpñómîmosgrî(rkrñhrhsmn(mò(rnoîsgsjvj(sn(Ripwsrn(îrnolroi(rnk(vigórnsjvj(
ljik(sn(òmpvsno(hói(piñîsgrP(wlh(i(rîjm(skinhsòï(ñmjjswîi(snnmurhsmnj(sn(hói(vmpñómL
îmosgrî(jïjhiv(mò(Ripwsrn(îrnolroi(hórh(grn(wi(rggmlnhik(òmp(wï(hói(sn¿lingi(mò(Ynoîsjó(
îrnolroiJ(
Y@e)gFGH={(rnoîsjsjvP(vmkiîP(piñîsgrP(vmpñómîmosgrî(îiuiîP(rkrñhrhsmnJ
Wsnmjîrur(`rksí
\nsuipshih(l(Ujhmênmv(RrprìiulP(amjnr(s(dipgiomusnr
^pruns(òrèlîhih
iLvrsî{(nsnmjîrurprksgÀïrómmJgmv(
§§M

$&R0/*%)&#/&R*%$&
^eRPfTQR"VRQ'T!hTSTU"g\'V\P!TP\'e''
!$\#gQÆPQV!PQc'e æ\RTPe'\PQRQc!P\'!S$eP\
#((>((?@(>(NÔ(:C(=>(?@(¢()N4)'5),50)-.,5(@(y(
(yL
y(|C(ÇC=(?;(Ö>(?;((FÇ>(>z>(?;(Ö>(FC(?;((FÇ>(N(=@(FÇ@(B>(FÇÑ(
C?;(=;O(F?>Ñ(y(?C(3(ÖCJ(
441

mO'S\'Q'$T&'!P\'hQ'!S"U'P\
§§H
ì(*#í5"/()K(*5"0(
6C(>?(?@;(;F=;B(=;(F(?@(~>(ÖC(};(BÖC?(y;A((>(FB;L
Ö>O(y;(Ç(?@(F(;:(>((Ö@(?@;(àC(=@(=@(N}(=@(A>(F~>(yz>(=@J(
1C?(F>(?;(z;(E>(Ö@(ÖC(=@(N(?@(?;(Ö@(FC(:@(B>(zC?(F>}(?>O(ÖC(A>(=>(~@(O@(>(zC?(F>(?;(=;O(
A;?(ÖC(zC?(F>}(?@(ÖC(A>(=>(~@(FN(O@(>(>OC(=>(ÇCÅ(FB>Ñ((@(~>(Ö@(N(F>(FÇC(ON(ÖC(>L
?@J(/C(=>(;F=;B(=>(~>(ÅC(B>(ÖC(FN(A@(FC(;A((;A(?;(Ö>Ñ(?;O(y;(=C(=C(Ç>(FC(F@(FÇ;L
Ö>(zC?(F>}(?;(=@(}C(àC(zC?(F>}(?C(ÖC(A>(=>(~CP(?@(?@B(ÖC(à>(Ñ;B(OC(N(F;:(=>(;A(=;F(>(
ÉN=?(~>(;(=>(F@(àCæ(A@(FC(NÇB(?@(?;(zC?(F>(?;=(=@(FÇ@(ÖCP(?@(?;(FC((Ö@P(?@(?BC(
FN((ÖC(àC(E;(B>Ñ(ÖC(A>(=>(~@(>(à>(Ñ;(B@(Ny;(Çy(?@(KIIä{(
KHæKIJ( 0;P( y(OÖC(=@( zC?(F>(?;(z;(|?>Ñ( >F(Ç(B@(à@P( >F(Ç>(}C( !@=(?;( $>y(?@P(

7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(3".!/'$4'134'-(JJJ
BC(;(O@(ÖC(|>((Ç>(Ö>(zC?(F>(?;(E((ÇC(=;(z;(|?@(AÖC(z@Ç(=;FÇJ(#y(FC(ÇC(=;(z;(E>(Ö@(?;(Ö@(Fy@(A@(N(zC?(F>(?;(z;(E>(ÖN(N(
|>((FzNJ(
S69'ë( ÖC( B>(F;(?;(@(N(Ç;(=;O(=@( zC?(F>(?;(z;(|?@( A>(F~>(yz>(=@( ?;(Ö@( FC(
:@(B>(y}(?;E(y;A(F>(FÇC(O@(Ñ69'ë(=@(A@(ÖC(ÇC=(AN(GC(B(ÖC(OC(y(FN(Ç@=P(;y(|ÇC(y;(=@Ç(>(y(ÑB@(DC=æ(/"(.)/5)(l);F;(:>(=@(
A@(ÇC=(=>(ÖC(Ez;(O@(@=P(|Ç;(;:>}(=;(y;A((ÖC(B@(ÖCA(=;(}z@(=;FÇæ(-#)-.%$r
'5-.l(N?z;(yÅC(=;FÇ(N(ÇC(=;(z;(|?>(F>(FÇCOæ('%)0,5)-$#)-*%)'5-.l);F;(:>(=@(A@(
FC(;FÇB@(O(y;Ö(O;O(N=N(Ç@

444
ì(*#í5"/()K(*5"0(
uO'hQ'S$\'æ"Ä'fT'T'U"'%RQ!S'$"#*
3B@(?>(;:(F>(FÇCO(>O@(@(~>Å(A@(N}C(=>(?@(;Fy;(F;(:>(>(=@(N(}>(A@((|Å@(>(z;(E>}(?>(y;(BC(N(ÖC(y;Ö(O;(BC(;(?;(Ö>(O@(FC(E;(B;(J(+(y?((ÖC(O@(ÇC((ÖN(;(?;(Ö;Ö(FC(E;(B;(J(0C((ÖC(B@(àC(ÇC?(FÇ@(
A;(B;(A>(A;(N}C(à@(=@(y@(OCÇ(>(}>(FÇC((
?@(=C(O;(END(=;(FÇ>(NFB@(Ö@(à@(=@(à@(ÇC(FÇB@((ÖC(AC(Ç@Å(=>(ÖC(E;(B;((Ç>P(N(.?;(=;O(F?;Ö(
|?;(z>(A>(FÇ?(Ç@(5(N(5;(F=>(>(áC(=>P(y;(ÇB(FÇ?Ç(5(áC(=C(ÖC(FÇC(ÖCA(=@(ÇC((Ç;((Ö@z(=@(ÖC(A>(=>(~@(
?;(Ö@(>O@(z;(?@z(=N(F@(O;(N(y(>(B( A@( 'AÖC(ÅC(àC( @( ;:(FÇ?(Ç@( 5(;(=>(|C( ?@;(
FB;(ÖC(B(=>(FÇ@(F=;(;A("C(yN(:z>}(?;E(yC(A@(E;(|?;E(@(B;(A@("CL
yN(:z>(?C(3(FÇ@(A@(ÖC(?(Ñ(yz@(=;(B@(>(y(ÇN(~>L
Ö@(?;(Ö@(DC(A@(y?(@(;A((=@(FÇ@B(=>(y(
Ez@B(=>(?(ÇC((ÖNO(:>;(?B@(z>(ÇCÇJ(0;P(yL
~>(O@(=N(AC((}>(ÇC(FÇ(?C(NFÅCA(=@(~>(;(=@z(=>Ñ((?@P(@(=@(
@Ñ(Ç(ÖCB('AÖC(ÅC(à@(@(;:(5C(;L
Ez>(,F(Ç;}(=;E(3@((?C(F(;(=@z(=;L
FÇ>æ()@(Ez>(-;(FÇ@((?C(Ñ(;(=@z(=;(FÇ>(>(>(3@L
z>( %N(zC( ¨@( N}C(=>(?C( :;(|à@}(?C( =@(~>(;(=@z(=;(FÇ>J( !@(?zCP( ?B@(z>(ÇCÇ(
NÔ(:C(=>(?@(FC(=C(y;(FÇ@(BÅ@(?@;(Ez@B(=>(?(ÇC((ÖNOJ(

7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(3".!/'$4'134'-(JJJ
,(FBC(E@(;B;(E@(y(>(z@(>(A@(ÖC(=@(FÇ@(=@?(=C(yB(=;E(O;(AC(z@(N}C(à@(
N(!>(FÇ?(ÇNP(N}C(àC(ÖC(>(?@(FÇ(>(A(y;(BC(ÇC?(FÇ;(B@P(=C(F@(O;(?à>(GCB(=;(N(OÖCÇ(=>}(?CP(
ÖC(>}(?>Ñ(NÔ(:C(=>(?@P(A;(:Ñ(y((?@P(?B@(z>(ÇCÇ(=>Ñ(FÇÑ(NÔ(:C(=>(?@(>(
(?@(:>(z;(ÖC(>}(?>Ñ(>z>(ÇC(=;(z;(|?>ÑJ
,(FBC(E@(;B;(E@P(y(>(=(Ç>(ÇC(=;(z;(|?>(?(?;(Ö>(=C(y;(FÇ;(Ö>(N(=@(FÇ@(B>P(@(
?;(Ö>(DC(N?@(@(Ç>(=@(y(y;(FÇ;(ÖC(N=N(Ç@(FÇC(O@P(@z>(>(
y;(FÇ@(Ç>(:@(@(@(=@(A;(E(;FBÖC(Çz>(Ç>(y(y;(FÇ;(ÖC(N(O@(z;(y(ÖC(y;(OC(=N(Ç;O(NÔ(:C(=>(?N(
F(~>(ÅCO(y;(:;Å(|@(à@(;B;E(NÔ(:C(=>(?@(ÇC(N?@(>(B@(à@(=@(y(N(y(?@J
3@O(=C(A;(FÇ@(Ç@?(;B@(?B>Ñ(CO(y>(Ö(F?>Ñ(>F(Ç(B@(à@(:>(z;(?;(ÖC(ÇC(=;L
z;(E>(ÖC(N(F(?N(N=N(Ç@(;B@(?B;E(ÖCA(=;E(>F(Ç(B@(à@J(0;P(;(;y(?@;(>(B@(G=;L
FÇ>(ÖCA(=;E(;B@(?B;E(>F(Ç(B@(à@(E;(B;((>(->(z>(~@(->(Ñ@(ÅC(B>D(?;(Ö@(>F(Ç>(}C{(
3B@(?;O(ÖC(FÇ(|CP(}@?(=>(N(FB;O(y;A((~ÖC(z;(?Ny(=;(=@(>L
BÅCJ(%@(?B>(FN(y((~>(Ö;|(B>(|C(y;Ç(;=>(O@(?;(Ö>(ÇC?(N}C(>z>(;=>(O@(
>(FN(FÖCA(=>Ñ(FÇO(@(Ç(D(KIIä{(KK('(;B;(OCP(Ç@(?;(CP(E;(B;((>(3Ç@(=@(">(FÇ>D(
N(FB;(Ö;Ö(?à>(>(¢()-*5)6%)'5-.)*%/)-#)/%)-"7)-/5+)6%)2#)/()#)*%/)-#N)/()'5")$(Ç)4@A(FN(
N(y>(Ç@(àN(|?;(zC(>(=@(FÇ@(B@(N(à>(O@P(=@((Ç;(FC(>F(Ç>(}C(y;(ÇO(
(~>(O@((}>(Ç;E(;:>(O@P(y;(ÇÑ(=C(F@(O;(@(=@(FÇ@(BN(ÖC(>(?@(>(?à>L
GCB(=;(FÇ>P(=C(E;(>(@(A(FC(F@(A(=C(yA(=;(>=;(B>(O(O(A;(OC(=>(O@(G>(B;(Ç@J(%CÑ(=>}(?;LÇCÑ(=;(z;L
|?>(O@(ÖC(
yÑ(>(Ñ((?@Jø(¨">(FÇ>D(HMMã{(KMKLKMH
K(
!(?C(>(=@(FÇ@B(=@(F

ì(*#í5"/()K(*5"0(
úO'PQ$'he!'T'c\'SQ'#Q'VQ']T'&"'$"'#"
4;F(Ç(B@(àC(N(;B;O((ÖN(?;(Ö@(ÖC(>FL
y>(F@(=@(>(NÔ(:C(=>(?@{(¢()N4)'5),50)-.,5)2()`)"(2)"%0)/5)'5$)-/%)M/5)*%)?;(Ö>(ÖC(y;L
FzN(G>;(?@;(ÖC(A>(=>(>(B;(?@(ÖC(;}>(EzCA(=@(@?;(y;(FC:(=;(y;(FO@(Ç(ÖC( >(AB@(Ö@;(
ÇC(=C(?;(Ö>(FN(:>Ç(=>(@(ÇN(zC?(~>(ÖNJ(+;(Ñ(ÇC(=@P(>(AB;(Ö>(z@(F@OP(N(
y;(O;D(y(FN(F@(FÇ@(=;L
B>(|Ç@(@NÇ;((?@(BÖC(O(y@(=>(FN(=@(B;L
C(=>(=@(?(ÖC(@(ÖCA(=;(F@(>F(Ç@?(=N(Ç>O(ÇC(=>(O@(y(}C(ON(y;A((ÖC(B@(àC(;A((;BC(;:z@(FÇ>(=@(=>(B;N(N}C(=>(?@(y(y;(GCÅ(=;(?@;(?(ÇC((ÖNOJ
0@(?;=(C?F(~C(ÖC(E(ÖC(A>(z;(ÖC(?;=(FÇ(F@(àC(;A((~@(N(B>(AN(
=@(B;(C(à@(zC(OCP(AC(É>(=>(~>(ÖC(?@;(>(y(OÖC((N;y(|ÇC(=C(y(Ç;(O;(E@;(:>(Ç>(ÇC=(8(N}C(=>(~>(FN(y;(?;(Ö>(
ÇC=(y;A(BN(?z>(N(ÇC?(FÇN(L(ç§P(åã«J('B>((=@O(E;(B;((?@(N(
A;(:(y(N;y(|ÇC(=C(y(FN(y;(?;(Ö>(ÇC=(y;A(BN(?z>(N(ÇC?(FÇN(8(HIP(ãH(«(N(y

7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(3".!/'$4'134'-(JJJ
0@(?(y(O;(C(ÇC(=;(z;(E>(ÖC(;B;E(NÔ(:C(=>(?@(y;(?@(@(z>(
FN(A@(ÖCA(=;(}z@(=>(ÇC(=>(?;(Ö>Ñ(>O@(K§H(@(>(FÇ@(ÉN=?(~>(;(=>(|N(N(F?z@(AN(F@(
@(?;(=>(Ç;(FÇ>(O@(O;(ÖC(F(?@(?@;(>(A@(FC(N(Ç;(OC(=C((?NL
ÖN( ;A( ;FÇ@(z>Ñ( zC?(FC(O@J( 3( ;:(>((;(=@z(=>( FÇ>z( ;B;E( NÔ(:C(=>(?@P(
(FN(:>(z>(;}C(?>(B@(=>J(#ÇB(=@(~>(Ö@(>OC(=>(~@{(KKåP(O@(z>(
:(y(AÖC(B@P(FBC(E@(Kã(Ez@(E;(z@(ÇC(KK(y(AÖC(B@J(-@(z>(:}(=>O(:Ñ(>OC(=>(~@(}>(OC(ÖC(y;(ÇB(=@(z>(@(~>(Ö@(>ÇC(?@(?;(y(FNÇ(=@(N(FÇB@((ÖC(?@;(ÖC(>(?@(
FÇ?(F@(?;(Ö>(FC(y;(?@(@;(?@;(y(B@=(ÖC(Ny?F(í'
ª6P(=@Ö(A;(O>(=@=Ç(=>(Ö>(FN(É>?F(?@(A@(ÖC((ÖC}(;(Ez@(E;z(F?>O(>OC(=>(~@(O@(¨>;>'ãOC(=>(~@(y;(ÇB(,B@(=@(
4z@Ö(=@(?;(Ö>(FO@(ÇOC(=>(~@(y;(Ç(F>=(Ç@?(F>}(?>Ñ((:C(z>}(=>Ñ((~@(¨4z@Ö=(HMMç{(KâKJ(!(
FN(É>?F(?;(Ö>(FC(y;(?@(@;(?@;(y(B@=(ÖC(FÇC(FN(É>?F(í';Ü';'jØ87';='ë>'=O(FC(>OC(=>(~@(O@(;=@L
§( ( °C(Ç

ì(*#í5"/()K(*5"0(
}@(B@(Ez@(E;z(F?@(O(|Ç;(y;(FÇ;(ÖC(>(;=C(?;(ÖC(>O@(ÖN(>OC(=>}(?;(=@(}C(àC(
¨4z@Ö=(HMMç{(HåMLHåKJ(6C(A>(=@(@(:>(ÅC(GC(=@(F@(>OC(=>}(?>O(=@(}C(àCO(N(;B;O(
OC(=>(~@{(:ç'j8'ë6;'Ñ>'=(j>ã'j8'ã>'=Ü';'7>Ä' èç'96'jãç' å96:'åÑ>'Ü>J( 4;A( ÇÑ( zC?(F>}(?>Ñ( ÖC(A>(=>(~@( ?;A( ?;(Ö>Ñ( ÖC( y(FNÇ(=;( =C(?;(z>(?;( ?;O(:>(=@(~>(Ö@P(
=@Ö(A;(O>(=@=Ç(=>(Ö>(FN(FÅC(AC(D>(FÇ(y;(B>{(y(AÖCBP(>OC(=>(~@(>(>OCL
=>(~@(¨äéÄ'è9ç'å67';>';>'é>Ü';>'=6';>(ÇC(>OC(=>L
~@P(y(ÖC(Az;E{(@£y;£N£;£=@£(>(>OC(=>(~@(¨:ç'j8'ë6';>Ñ'ä>'jª'á';>'ë>'ãçJ('B>(
FÇ(y;(B>(Ny(Ç>(O;(AC(z>(>(y=(ÇÑ(zC?(F>}(?>Ñ(ÖC(A>(=>(~@(=C(O@(yN(=;(:;E(}C(E@(>(
=C(O;(GC(O;(E;(B;((Ç>(;(NFÇ@(ÅC(=>O(FÇ(y;(B>(O@P(@z>(:>(FO;(O;(Ez>(
å( ( +;(FÇ;(ÖC((}>(Ç@(ÇC(=;(z;(|?@((~CJ(1@(A>(Fz@B()EN(FÇ@(N(FB;L
Ö;Ö( ?à>(>( !"#)"4N)'#/) *%/)-#)/5)+"()ª#)6%) y;(O>(àC{( jçë'èã6j'å;6' ã6j'å6'ë6Ä' Ü6'ä>';6' å'¨HMMH{(H§§(!@=(?;($>y(?@(
;yCÇ(N(FB;(Ö;Ö(?à>(>(’-'5),#)*%/)-#)/5)*5)+#)6%)#)-"50)'#µ)0#)-î#)7*#)'()?;((FÇ>(ÇC=(Ü'ã6j'å(DN(>(Ö@(=@(A@(ÅC(?;((FÇ>(Ç>(N(FB;O((FC(;y(ÖC(z>(z@(>("@Ö(=@(!(DC(B>D(N(FB;(Ö;Ö(?à>(>(æ%/)-#)/5)*5)+#)6()-"7)-/5+)6%)2#)/()
¨HMMâ{§MJ
§§ä

7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(3".!/'$4'134'-(JJJ
y(à>(Ñ;(B;(FB;(C(àC(=@(O@(à>(:Ü';(?@;(>(y;(FN(>(B@(àCO((ÖC(}>J(
*?;(E;(B;((O;(;(y(B@(à@((ÖC(}>P(>=(ÇC((Ç>(A@(@=L
Ez>(~>(O>P(?;(Ö>(FN(>ÇC(?@(?;(A;(O>(=@=Ç(=>(N(O@=(ENP(OC(=@Ô(OC=(ÇNP(;:z@(FÇ>(O@(
?;(ÖC(FN(FC(=@(OCÇ(=N(zC(N(=@(|;Ö(A(FN(Ç;(z>(?;(y(FNÇ(=>(N(
;B;Ö(C?;(=;O(F?;Ö(;:z@(FÇ>J(*=@(z>(;O(ÖC(y;(ÇB(O@(z@(Ç>=(F?;E(y;((ÖC(?z@(¨>j'ÑãP(@z>(>(;(ÖCA(=;O(O@(àCO(
:(>Ç@(z>(Ö@=(F?;E(y;((ÖC(?z@(¨é>;'j>Ä'å>ã':çÄ'9>'é>Ñ(ÇC(ÉÜ>;åÄ'Ü'á>'=(FÇC(ON(NÔ(:C(=>(?@(y(FNÇ(=>(FN(>(
>=(ÇC(;(=@(z>(O>(¨:6'èç'ä'ïª>'Ü96:';çåÑP((ÖC(}>(FÇ'á>'='ã>(?@;(>(?;O(:>(=;(B@(àN(A;(O@(D>Ñ(>(FÇÑ((ÖC(}>(¨'ê>j'Ñ8'9>J
*=@(z>(@( ÇC(=;(F>(FÇC(O@( NÔ(:C(=>(?@( F@( @FyC?(Ç@( OC(N(F;:(=;( NF(y;(FÇ@(BÅCL
=>Ñ(;A(=;(F@(N?@(@(z@(ÖC(=@(y(FN(FÇB;(B(=;(=>(O>(ÖCJ(3>(=;(=>(O>L
Ö@(ÖC(NF(y;(FÇ@(BÅC(=@(>(OC(N(ÖCA(=;(}z@(=>Ñ(ÇC(=@(¨>Ü>;å'°'>jç;'Ñ>'=(B>(|C}(z@(=>Ñ(ÇC(=@(¨èç'ÑÜ9':>'ç'è9?øP(á(z;L
z;(|?;(A

ì(*#í5"/()K(*5"0(
?@P(;A(=;(F=;(A@(z>(ÖC(NF(y;(FÇ@(BÅC=(ÉN=?(~>(;(=@(z@=(Ñ>(ÖC((;A(=;FP(;A(=;F(
Ñ>(y;(=>(O>(ÖCP(Ç@?(F;(=>(O>(ÖC(>z>(OC((ÖCP(Ç;(ÖC(ÇC(|?;((=@(;F=;(BN(@=@L
z>(C(zC?(F>(?C(NÔ(:C(=>(?@(F@(O;(@(y(((jÅë>'ª>jÄ'
>;>'ã(ÖC(Ñ>(yC(O(N(;A(=;(FN(
=@(FÅC(AC(DC(Ñ>(y;(=>(OC{(>;>'ã'6ÜÄ(>;>'ã'6Ü'Ñ6'9J
±O'Q!U$S'R"'e 'æ\'RTP'bm'gh'lt'`ti'k_`t'
|m'}'bm|'bji'j~t'ltp'k~j'~t'qj
!;(:(?@(?;(Ö>(ÖC(y(FÇNL
y@(}@=(N(y;(EzC(AN(ÖC(>(?@(>(=@(}>(=@(y?(ÇJ(*=@(z>(>((NÔ(:C(=>?(>(y(?C(F(?@(>(zC?(F>}(?@(=;(ÇNÇ(@(F(ÖC(>?(3*(0#P(-;(=;(E(ÖC(
çP(5C(;(E

7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(3".!/'$4'134'-(JJJ
3BC(;B;P(y(FÇ(@(ÖC(>?J
O'W"'Pe'"P
*=@(z>(@(ÇC(=;(z;(E>(ÖC(NÔ(:C(=>(?@(>(y(ÇCÇ(=>(NÔ(:C(=>(~>(?;(Ö>(FC(B(=>(y;(FÇ;(ÖC(D>P(y(ÑB@(Ç@(ÖN(:C(?;=(?(ÖC(à>(Ñ;(BC(@=@(z>(CJ(
°C(ÇB(yÑ((?@(>(y((?@(?;L
Ö>(N}C(=>(~>(O@(;O;(EN(D@(B@(ÖN(A@(=@(=@Ö(:(=@(}>=(A;(N(A;(y;(Ç=(É;(ÖCP(;A(=;(F=;(=@(=@Ö(z@?(|>(=@(}>=(NFB;(ÖC(y;(Ç( y( =@Ö(B@(G=>(Ö>P( ÖC( ;=( O;(E@;P( N( BC(z>(?;Ö( OÖC(P(
(ÖC(|>(Ç>(BC(D>(:Ñ(y(FC(=@(=C(A;(B;Å(=N(>F(Ç(z;(?;(ÖC(ÇC(=;(z;(E>(ÖCP(y@(>(;BCP(N(z>=(EB>(FÇ>}(?;Ö(=@(N(~>J
§åK

ì(*#í5"/()K(*5"0(
VTS\$"Se$"
*=>DP(&J(¨KIIMJ(ò(M%).%"$#'5*5+#6%)#)/4*.4"()/&#õ%,'5+)6%2#/(J(#{(%C=;z;L
E>Ö@(8(ÇC;Ö@(>(y(yDP( -J( ¨KIäãJ( ó5î#5*#'+,#-.#/(s) 4à>GCB=@( @ÖCA=>~@( 0;B;E( 3@A@{(
!=CB=>?J
"@A;B@=;B>DP(-J(¨KIIâJ(ó7#-#)#2)/5'.%/-.4(*'%)*#'+,#-.#/%l),A@B@}?@(?à>G@~@();D@P3(4@(8(0;B>(3@AJ
">FÇ>DP(3J(¨HMMãJ(¢(-*56%'5-.)*%/-#/%)-"7-/5+)6%2#/()#)*%/-#N/()'5"$(s),=FÇ>ÇNÇ(
@(F(ÖC>?(3*0#{(-;=;EÖC(çP(5C;E

7#04Ü,'0*10'(,3+,%,&*/.(1.43,4.(#(3".!/'$4'134'-(JJJ
DALIBORKA BALORDA
b\WTVUSWQZ(VYRVUW[(Sb(VdY(ZY¢UTSW(UW(Q(VY¢VaSSü(
\RYX(UW(RYTSWXQ`†(RTdSSZ(Sb(YTSWSôUTR
Rlvvrpï
Vói(wrk(pijlîhj(mwhrsnik(sn(r(hijh(vihómk(sn(hói(Rigmnkrpï(Rgómmî(mò(Ygmnmvsgj(sn(apgèm(
Xsjhpsgh(mò(amjnsr(rnk(dipiomusnrP(piîrhik(hm(hói(QggmlnhsnoL(wmmèèiiñsno(jlwìighP(órui(
jómn(r(niik(òmp(rnrîïsno(hói(òlnghsmnrîshï(mò(hipvsnmîmoï(sn(hói(hihwmmè(òmp(hórh(lnshJ(
Vói(pijlîhj(mò(hói(rnrîïjsj(órui(jómn(hórh(hói(hipvsnmîmoï(ljik(sn(hói(hihwmmè(sj(ksjmpL
ornsik(rnk(snjlòûgsinhîï(jhrnkrpksik(rnk(ñmsnhik(hm(hói(òrgh(hórh(hóipi(sj(rn(snjlòûgsinh(
nlvwip(mò(pijirpgó(mpèj(piîrhik(hm(hói(hmñsg(mò(hipvsnmîmoï(sn(Ripwsrn(îrnolroiJ
Y@e)gFGH={(RipwsrnP(îisgmîmoïP(îisgmoprñóïP(hipvsnmîmoïP(jivrnhsgjP(hirgósno(vihómkL
mîmoïP(hirgósno(pijmlpgijJ
!@z>:;

§å§

c
'"2*0,)*Ü,6*(0*3%*&.(
S`[QWURQVUSW(XY(ZfYWRYU[WYôYWV(
VYQTdUW[(S`[QWURQVUSW
§åå

§åã

KDd;

aF{EA)o9û9û
pijipuikP( hmhrîîï( mwìighsuiP( pivmhi( rnk( igîljsuiîï( kspighik( hmrpkj( pirjmnJ(Q(
jgsinhsjh(kmij(nmh(rkkpijj(rnmhóip(òiîîm(jgsinhsjh(hm(ñpmumèi(ósj(mp(óip(ivmhsmnjP(
wlh(hm(hiîî(hói(hplhóP(jgsinhsûg(hplhóP(hm(rpoli(rnk(ñpmuiP(hm(wi(ñipjlrjsuiJ(Vósj(sj(
kmni(sn(rn(svñipjmnrî(rï(wï(ljsno(hói(rlhómpsrî(¥iø(ósgó(jhpijjij(vmkijhï(
rnk(mwìighsushï(mò(ñpijinhrhsmn(jm(hórh(oiniprîshï(rnk(rwjhprg(hsmn(rpi(rg(ós(i(uikJ(
Q( jgs(in(hsjh( pi(orpkj( r( pi(gs(ñs(inh( rj( r( ¥lns(ks(vin(js(m(nrî( wi(snoø( ór(usno( pi(r(jmn( wlh(
îrg(èsno(jmlîJ(Vói(óm(îi(rg(hs(ushï(mò(r(jgs(in(hsjh(sj(ñps(vr(psîï(ks(pig(hik(hm(rpkj(jiL
vrn(hsg(sn(òmp(vr(hsmn(rnk(hói(òmp(vrî(îsn(ol(s(jhsg(rjñigh(sj(mò(ji(gmn(krpï(sv(ñmp(hrn(giJ(
`i(ji(rpgó(ñr(ñipj(hórh(rpi(psh(hin(sn(mp(kip(hm(irpn(hói(jgs(in(hs(ûg(mp(rgr(ki(vsg(hs(hîij(
jlgó(rj(jñi(gs(r(îsjhP(vr(jhipfjP(kmg(hm(prî(hói(jij(rnk(mh(óipj(ór(ui(hm(wi(hói(pi(jlîh(mò(snL
ks(us(klrî(mpèJ(`i(ji(rpgó(sj(wr(jik(mn(rn(mñin(sn(òmp(vr(hs(m(nrî(ñpm(gijjJ(Uh(sj(r(òmpv(mò(
jm(gsrî(rg(hs(ushï(wï(ósgó(nr(hl(prî(rnk(jm(gsrî(îrj(rpi(ks(jgm(ui(pik(nmh(òmp(hói(sn(ks(usL
klrî(wi(ni(ûh(wlh(òmp(hói(ñlp(ñm(ji(mò(hói(óm(îi(ól(vr(nshï(¨Vm(ém(usí(HMMH{(ççMP(çççJ
lOmO'/qJ'Ap'GJ'ñq'DGrBA
Vói(jgs(in(hs(ûg(jhïîi(sn(umî(uij(mw(jip(usno(hói(nmpvP(rw(jhprgh(hósn(èsnoP(lni(vm(hsL
m(nr(îshïP(mw(ìig(hs(ushï(sn(jhirk(mò(jl(wìig(hs(ushïP(iîs(vs(nr(hsmn(mò(rîî(èsnkj(mò(ivm(hs(mnj(
wi(gr(l(ji(hóiï(rpi(ln(ni(gij(jrpïJ(Vói(jgs(in(hs(ûg(jhïîi(sj(gór(prg(hi(ps(ik(wï(lns(òmp(vshïæ(
sh(km(ij(nmh(gmn(hrsn(sn(òmp(vrîP(iuipïkrï(mp(ks(r(îig(hrî(îi(sjJ(Vói(îi(uiî(mò(pi(ñi(hs(hsmn(
sn(gpi(r(jij(rnk(jïnmnïvï(úl(r(îs(hr(hs(uiîï(rnk(úl(rn(hs(hr(hs(uiîï(kig(pi(r(jijJ(Vói(jgs(in(hs(ûg(
jhïîi(pi(úl(s(pij(rññîïsno(ni(l(hprî(rnk(s(kiîï(ljik(jïnmnïvjJ(Vói(pi(jhpsg(hik(îi(s(grî(
òlnk(¨nm(lnj(rnk(rkìig(hs(uij(ñpi(km(vs(nr(hiP(uipwj(sn(ñpi(jinh(hin(jij(shó(nmnLhivL
ñm(prî( vi(r(nsnoP( uipï( ñm(mp( góm(s(gi( mò( mpkj( sh(óm(lh( vrnï( jhïîs(jhsg( îrïipjP( rnk(
îs(vs(hik(ñmîïjivï(rîî(îirk(hm(pi(ñi(hs(hs(mnj(mò(hói(jr(vi(mpkjP(hórh(sj(hipvj(¨ôs(ísí(
HMMç{(IäLIIJ(Y(ñpij(js(mn(mò(hóm(loóhj(órj(hm(wi(gîi(rpP(rg(gl(pr(hi(rnk(îm(os(grîJ(Qj(
òrp(rj(jïnhrg(hsg(jhplg(hl(pi(sj(gmn(gip(nikP(gmv(ñîi(jin(hin(gij(ñpi(km(vs(nr(hiJ(Qh(hói(
hi(hl(rî(îi(uiîP(hói(jgs(in(hs(ûg(jhïîi(jómj(sn(hi(opshïP(gm(ói(jsmnP(îm(osgP(ñpi(gs(jsmnP(ks(rL
îm(os(gshï(rnk(óïñmh(ói(js(snoJ(Vói(ji(òi(r(hl(pij(mò(jgs(in(hs(ûg(jhïîi(rpi(lns(uip(jrî(òmp(rîî(
îrn(ol(r(oij(rnk(shó(gip(hrsn(rk(ks(hs(m(nrî(jñi(gs(û(gs(hs(ij(vrï(wi(rñ(ñîsik(hm(hói(Yn(oîsjó(
îrn(ol(r(oi(mò(vi(ks(grî(rnk(ws(m(vi(ks(grî(jgs(in(gijJ
§åä
mO'-X'`,1/b'*/')b-',-'*'.1X`',*X'`4'*'`-'ZL'Ö0-'.1'Y*,à'/Y1'-X'YmOlO'Y@K'KApG'DGo'G@D'Fv'GtA'-p'xBJDt'Bop'x@'o'xA'Fv'DqJ'Ap'qA
Vói(Yn(oîsjó(îrn(ol(r(oiP(shó(jgs(in(hs(ûg(rnk(ñpm(òij(js(m(nrî(ki(ui(îmñ(vinhP(sj(nm(îmnL
oip(r(òm(pi(son(îrn(ol(r(oi(òmp(mh(óip(nr(hs(mnjP(wlh(sh(órj(sn(gpi(r(jsnoîï(rj(jl(vik(hói(pm(îi(

VdY(YW[ZURd(ZQW[\Q[Y(T\``UT\Z\ô(bS`(XSTVS`QZ(RV\XYWVR(Sb(JJJ
mò(r(vmh(óip(hmn(oliJ(Yn(oîsjó(sj(hói(îsn(olr(òprn(gr(mò(jgs(in(giP(ósgó(mn(gi(ljik(hm(wi(
Zr(hsnJ(Qj(r(pi(jlîhP(Yn(oîsjó(rj(r(bm(pi(son(Zrn(ol(r(oi(¨YbZ(îr(wiî(órj(wi(gm(vi(mw(jmL
îi(hi(rnk(órj(wiin(pi(ñîr(gik(wï(hói(òmî(îm(sno(mnij{(Yn(oîsjó(rj(r(Ri(gmnk(Zrn(ol(r(oi(
¨YRZP(Yn(oîsjó(rj(rn(Qk(ks(hs(m(nrî(Zrn(ol(r(oi(¨YQZ(rnkP(vmjh(pi(ginhîïP(Yn(oîsjó(rj(
rn(Un(hip(nr(hs(m(nrî(Zrn(ol(r(oi(¨YUZJ(Vói(pi(òm(piP(sn(hói(gmn(hih(mò(hói(lji(mò(Yn(oîsjó(
rj(hói(îrn(ol(r(oi(mò(jgs(in(giP(pi(ji(rp(góipj(óm(i(pi(òmp(vipîï(ènmn(rj(nmnLnr(hs(ui(
jñi(r(èipj(¨WWR(ór(ui(gm(vi(hm(wi(pi(òip(pik(hm(rj(YUZ(jgóm(îrpjJ
mOmO'`BF'yoB'HF'EJ'pop'qA'Fv'-p'xBJDt'Bop'x@'o'xA'Fv'DqJ'Ap'qA
bmp(vmjh(mò(shj(ós(jhmpïP(Yn(oîsjó(òmp(Rñi(gs(ûg(^lp(ñm(jij(¨YR^(órj(wiin(km(vsL
nr(hik(wï(Yn(oîsjó(òmp(Qgr(ki(vsg(^lp(ñm(jij(¨YQ^P(rnk(wï(hói(jlw(jñi(gs(rîhï(Yn(oîsjó(
òmp(Rgs(in(gi(rnk(Vig(ónm(îmoï(¨YRV(¨Rr(îijP(KIääæ(YQ^(gmn(hs(nl(ij(hm(km(vs(nr(hi(
sn(hip(nr(hs(m(nrîîï(¨emónj(rnk(Xl(kîiïLYurnj(KIIç{(KH§J(YQ^(rnk(YR^(rpi(nm(gmvL
vmnîï(pi(òip(pik(hm(rj(Un(hip(nr(hs(m(nrî(Rgs(in(hs(ûg(Yn(oîsjó(¨URYJ(Vói(gmv(vmn(òi(r(hl(pi(
mò(hósj(ks(jgm(lp(ji(gmv(vl(nshï(sj(hói(jèsî(òlî(lji(mò(Yn(oîsjó(hm(ps(hi(jgs(in(giJ(Uò(YnL
oîsjó(sj(jiin(rj(URYP(sh(òmpvj(ñrph(mò(jgs(in(giP(rnk(sj(hói(pi(òm(pi(rî(jm(rn(sn(hi(oprî(ñrph(
mò(®wi(gm(vsno(r(jgs(in(hsjhf(nm(r(krïj(¨©m(mk(HMMK{(äKLäçJ
Vói(ñpi(km(vs(nrn(gi(mò(Yn(oîsjó(os(uij(nr(hs(ui(jñi(r(èipj(r(gmv(ñi(hs(hs(ui(rkurn(hr(oi(
muip(hóm(ji(óm(ór(ui(hm(rg(úl(s(pi(jlò(û(gs(inh(îsn(ol(s(jhsg(jèsîîj(hm(gmv(vl(ns(gr(hi(hói(sp(
pi(jlîhj( ¨aipo(órv(vip( HMMã{( §MJ( [îm(wrî( km(vs(nrn(gi( mò( Yn(oîsjó( rj( îsn(olr( òprnL
gr(¨YZb(mò(jgs(in(gi(órj(wiin(pi(ñmp(hik(hm(gpi(r(hi(vs(ik(òi(i(îsnoj(nmh(mnîï(rvmno(
mpîk(jgs(in(hs(ûg(gmv(vl(nshï(wlh(rvmno(YQ^(jgóm(îrpj(rnk(ñprg(hs(hs(m(nipjJ(Rm(vi(jii(
sh(rj(òr(gs(îs(hr(hsno(hói(ènm(îik(oi(i(górn(oi(rnk(ks(r(îm(oli(¨TpïjhrîP(HMMçP(rnk(shj(
gps(hsgj(rj(r(jm(lp(gi(mò(ks(jgps(vs(nr(hsmn(mò(sn(ks(us(kl(rîj(rnk(opm(lñjP(iuin(iv(ñm(ui(psjL
óvinh( mò( jgs(in(gi( rnk( ènm(îik(oiLgmn(jhplg(hsmn( sn( oi(ni(prî( ¨[swwjP( HMMåæ( Tr(nrL
or(pr(ìróP(HMMãJ(ôlgó(pi(ji(rpgó(órj(wiin(rg(gl(vl(îr(hik(mn(hói(i(ñi(ps(in(gi(mò(hósj(
jl(ñip(sv(ñm(js(hsmn(mò(YZb(mò(jgs(in(gi(sn(ksò(òi(pinh(ñrphj(mò(hói(mpîkJ(Qv(vmn(¨HMMK(
ñpm(us(kij(rn(iv(ñs(ps(grî(wr(jsj(hm(hói(ómh(ki(wr(hi(mn(hói(ñpmj(rnk(gmnj(mò(Yn(oîsjó(kmL
vs(nrn(gi(sn(jgs(in(gi(¨bipnÏnki(^m(îmP(Trî(cr(pi(îr(HMMI{(KåHLKåçJ
mOuO'-p'xBJDt'Bop'x@'o'xA'Fv'EA'HJ'qoB'DqJ'Ap'qA
Rsn(gi(hói(vskLHMhó(gin(hlpïP(Yn(oîsjó(órj(wi(gm(vi(hói(îsn(olr(òprn(gr(mò(vi(ksL
grî(pi(ji(rpgóP(rnk(Yn(oîsjó(hipvj(ór(ui(wiin(sv(ñmp(hik(sn(hm(vrnï(îrn(ol(r(oijJ(Vói(
Yn(oîsjó(îrn(ol(r(oi(mò(vi(ks(grî(jgs(in(gi(órj(gm(vi(hm(wi(hóm(pm(loóîï(ln(kip(jhmmk(rnk(
órj(wiin(i(hin(js(uiîï(jhl(ksikJ(Uh(hói(pi(òm(pi(jip(uij(rj(r(vm(kiî(òmp(mh(óip(nr(hs(mnj(rj(
hm(óm(hm(gpi(r(hi(hói(sp(îrn(ol(r(oij(mò(vi(ks(grî(jgs(in(gi(¨ôs(ísí(HMMI{(KKJ(Vói(îrn(olL
r(oi(mò(vi(ks(grî(jgs(in(gi(sj(gór(prg(hi(ps(ik(wï(îi(s(grîP(vmpñ(óm(îm(os(grîP(jïnhrg(hsg(rnk(
§åI

aF{EA)o9û9û
ji(vrn(hsg(jñi(gs(û(gs(hs(ijJ(Rgs(in(hs(ûg(pi(ji(rpgóP(nmh(îrn(ol(r(oiP(sj(hói(òm(glj(rnk(hósj(órj(
sn(hi(pi(jhsno(gmn(ji(úl(in(gij(òmp(hói(hi(rg(ósno(mò(YôQ^J(Sni(sj(hórh(hói(sn(jhplg(hsmn(
pi(úl(s(pij(jñi(gsrî(ikl(gr(hsmn(rnk(hpr(s(nsno(mò(îrn(ol(r(oi(ñpm(òij(js(m(nrîjP(ñpm(wrwîï(sn(hói(
òmpv(mò(r(vr(jhip(ñpm(oprv(viP(jsn(gi(oi(ni(prî(Yn(oîsjó(gmv(ñi(hin(gi(sj(r(ni(gij(jrpï(
ñpi(pi(úl(s(js(hiJ(
Vósj(ijhr(wîsj(óvinh(mò(Yn(oîsjó(rj(hói(ñpi(òip(pik(îrn(ol(r(oi(mò(vi(ks(grî(gmv(vlL
ns(gr(hsmn(rg(pmjj(Ylpm(ñi(órj(wiin(opr(klrî(¨ôr(óipP(KIäãæ(Vr(r(ush(jr(s(nin(…(^ró(hrP(
HMMçæ(VrpkïP(HMM§J(Uh(órj(wiin(ius(kin(gik(hórh(jgóm(îrpj(òpmv(®jvrî(îipf(îrn(ol(r(oij(
mñh(òmp(sh(wi(gr(l(ji(mò(hói(ñpi(jhs(oi(rnk(sv(ñrgh(rj(jm(gs(r(hik(shó(rn(sn(hip(nr(hs(m(nrî(pi(rL
kip(jósñ(¨[s(rn(nm(ns(HMMä{(IâJ(Yn(oîsjó(sj(jiin(rj(hói(èiï(òrg(hmp(mò(wi(gm(vsno(jlgL
gijjòlîP(pi(gmo(ns(ik(rj(rn(rgr(ki(vsg(mò(mphó(rnk(rn(rui(nli(òmp(in(órn(gsno(mnifj(
pi(jl(vi(rnk(or(s(nsno(ñpm(vm(hsmn(¨Xlj(rèP(Zi(èm(sg(HMMä{(KKåJ
uO'3-'LZ3'0-.'-0*a'Y43'31'Y4',*'1X'+-,'`3*'.-
uOlO'3A'vFK'EAH'-0*a'q@K'KJ'q@'B@E'oG'+AB'xKo'HA'4pJ'nAK'DJGr'/qtFFB''
Fv'0A'HJ'qJ'pA'Ö+4/0à
Vói(am(îmo(nr(ñpm(gijj(mò(pi(òmpvj(sn(óso(óip(ikl(gr(hsmn(órj(wpm(loóh(górn(oij(snL
hm(hói(YôQ^(glp(ps(gl(îlv(rh(a\RôJ(Vói(pi(órj(wiin(r(jósòh(mò(òm(glj(sn(vi(ks(grî(
ikl(gr(hsmnP(sn(hipvj(mò(ñprg(hs(grî(i(gîl(js(mn(mò(ñpiLvi(ks(grî(jl(wìighj(òpmv(hói(glp(psL
gl(îlv(rnk(ñîr(gsno(jhpijj(mn(ñprg(hs(grî(vi(ks(grî(jèsîîjJ(©sh(ósn(r(ni(vi(ks(grî(glpL
ps(gl(îlv(rñ(ñpm(uik(sn(HMM§P(rn(YôQ^(gm(lp(ji(rj(i(hin(kik(òpmv(r(hmLïirp(hm(r(
û(uiLïirp(gm(lp(jiP(mp(I(ji(vi(jhipj(mò(jhlkïsnoJ(RmP(òpmv(rgr(ki(vsg(HMM§£MåP(YôQ^(
sj(r(gmv(ñlî(jmpï(jl(wìigh(sn(hói(ûpjh(hm(ïirpj(mò(ln(kip(opr(kl(r(hi(vi(ks(grî(jhl(ks(ijP(
rnk(rn(iîig(hs(ui(jl(wìigh(sn(hói(hóspkP(òm(lphó(rnk(ûòhó(ïirpjJ(Qî(jmP(Yn(oîsjó(órj(wiL
gm(vi(r(gmv(ñlî(jmpï(òm(pi(son(îrn(ol(r(oi(òmp(irgó(jhl(kinh(mò(vi(ks(gs(niJ(Qò(hip(irgó(
mniLïirp(gm(lp(jiP(vi(ks(grî(ln(kip(opr(kl(r(hij(hr(èi(r(psh(hin(hijh(rj(jij(jik(sn(hói(òmpv(
mò(^QRR£bQUZJ
§ãM
uOmO'-p'xBJDt'vFK'.Ap'GJ'DGKr'.Fq'GF'KoB'Yop'HJ'Ho'GAD'Ö-..Yà'q@K'KJ'q@'B@E''
oG'+AB'xKo'HA'4pJ'nAK'DJGr'/qtFFB'Fv'.Ap'GJ'DGKr'Ö+4/.à
Qh(a\RXP(rj(ñrph(mò(hói(am(îmo(nr(ñpm(gijj(mò(pi(òmpvj(sn(óso(óip(ikl(gr(hsmnP(hói(pi(
rj(îr(ln(góik(rn(iîig(hs(uiP(mniLhipvP(YXXT(gm(lp(ji(sh(ósn(hói(jhlkï(ñpm(oprv(vi(
Rgs(in(hs(ûg(Yj(jin(hs(rîj(mò(ar(jsg(rnk(Tîs(ns(grî(`i(ji(rpgó(sn(Xin(hs(jhpï(¨ç(gpi(kshj(rg(gmpL
ksno(hm(YTVR(sn(rgr(ki(vsg(HMMâ£MäJ(Vói(rlh(ómp(mò(hósj(rp(hsg(îi(sn(gmî(îr(wm(pr(hsmn(
shó(r(jl(wìigh(i(ñiph(ñrp(hs(gs(ñr(hik(sn(hói(ki(ui(îmñ(vinh(mò(hói(gm(lp(ji(rj(shj(ks(pig(hmp(

VdY(YW[ZURd(ZQW[\Q[Y(T\``UT\Z\ô(bS`(XSTVS`QZ(RV\XYWVR(Sb(JJJ
rnk(sn(jhplg(hmpJ(Vói(pi(i(pi(â(grn(ks(kr(hij(óm(jlg(gijjòlîîï(gmv(ñîi(hik(hói(gm(lp(jiJ(
Uh(gmn(jsjhj(mò(Kå(îig(hl(pij(rnk(çM(ñprg(hs(grîj(rnk(hói(kmg(hm(prî(grn(ks(kr(hij(rpi(pi(úlL
s(pik(hm(ps(hi(r(hipv(ñr(ñipP(sn(hósj(gr(ji(r(jómp(hi(nikP(rkrñ(hik(uip(jsmn(mò(`QJ(Vóiï(
hr(èi(r(û(nrî(opr(kik(psh(hin(irvJ(Vói(rñ(ñpm(uik(YXXT(glp(ps(gl(îlv(gmv(ñps(jij(hói(
òmî(îm(sno(â(hm(ñsg(rpi(rj{
KJ( bi(r(hl(pij(mò(jgs(in(hs(ûg(îrn(ol(r(oi(¨YR^(rnk(YQ^
HJ( Xm(vs(nrn(gi(mò(hói(Yn(oîsjó(îrn(ol(r(oiP(hói(îi(r(ksno(oîm(wrî(îrn(ol(r(oi(8(
Yn(oîsjó(sn(as(m(vi(ks(gs(ni
çJ( \ji(mò(ksg(hs(m(nr(ps(ij(¨oi(ni(prî(rnk(jñi(gs(r(îs(ik
§J( Rñi(gs(rî(hs(ij(sn(vi(ks(gs(ni(rnk(kin(hs(jhpï
åJ( Vig(óns(úl(ij(mò(pi(r(ksno(rnk(gmî(îig(hsno(sn(òmp(vr(hsmn
ãJ( \ji(mò(gs(hr(hsmn(sn(ki(ij(¨Tlp(pinh(Tmn(hinhj
âJ( Yn(oîsjó(sn(psh(hin(gmv(vl(ns(gr(hsmn(8(òmp(vrî(gmp(pi(jñmn(kin(giP(TcJ
uOuO'-p'xBJDt'vFK'0A'HJ'qoB'.Fq'GF'KoB'Yop'HJ'Ho'GAD'Ö-0.Yà'oG'+4/0
Vói(gm(lp(ji(mò(hói(Yn(oîsjó(òmp(kmg(hm(prî(jhl(ks(ij(sn(vi(ks(gs(ni(sj(rwm(lh(hm(wi(îr(lnL
góik(rh(hói(aiî(opr(ki(\ns(uip(jshï(Rgómmî(mò(ôi(ks(gs(ni(sh(ósn(hói(jhlkï(ñpm(oprv(vi(
as(m(îmoï(mò(Rèi(îi(hmn(¨HMMI£KMJ
úO'-X'`,1/b'LZ3'.ZY')Z'3*,'/)4'.-X)/'ZL'0-'.1'Y*,'/Y1'-X'Y-/'
Ö-./0/à
úOlO'XA'AHD'*poBrDJD
YXRôR(sj(rj(jm(gs(r(hik(shó(hói(kmg(hm(prî(jhl(ks(ij(mò(vi(ks(grî(jgs(in(gij(¨vi(ks(gs(niP(
kin(hs(jhpïP(ñórp(vrgï(rnk(ui(hi(ps(nrpï(vi(ks(gs(niJ(Vóiï(ñps(vr(psîï(sn(gîl(ki(kmg(hm(prî(
grn(ks(kr(hij(óm(rnh(hm(gmn(hs(nli(hói(sp(pi(ji(rpgó(ósgó(sj(wmhó(òln(kr(vin(hrî(rnk(
gîs(ns(grî(sn(nr(hl(piJ(ômjh(pi(ginhîïP(hói(pi(órj(wiin(r(gîm(ji(gmî(îr(wm(pr(hsmn(wih(i(in(
òln(kr(vin(hrî(rnk(gîs(ns(grî(pi(ji(rpgóP(wlhP(ln(km(lw(hikîïP(hói(pi(isjh(jm(vi(ksò(òi(pin(gijJ(
Tîs(ns(grî(vi(ks(gs(ni(sj(mò(jñi(gsrî(sn(hi(pijh(òmp(kmg(hm(prî(jhl(kinhjJ(Uh(sj(i(hpi(viîï(svL
ñmp(hrnh(hm(hprsn(jhl(kinhj(hm(wi(gmv(ñi(hinh(vi(ks(grî(ps(hipj(rj(hóiï(sîî(ps(hi(gr(ji(
pi(ñmphjP(pi(ji(rpgó(rp(hsg(îij(rnk(gmv(vl(ns(gr(hi(shó(sn(hip(nr(hs(m(nrî(jgs(in(hs(ûg(rlks(in(gi(
¨ôs(gsg(HMMâ{KMJ(
Vói(pi( rpi( wmhó( îsn(ol(s(jhsg( rnk( i(hprLîsn(ol(s(jhsg( pi(r(jmnj( òmp( sv(ñîi(vin(hsno(
YXRôR(glp(ps(gl(îlvJ
§ãK

úOmO',Jp'x@'J'DGJq'KA'o'DFpD'vFK'-./0/
aF{EA)o9û9û
Zsn(ol(s(jhs(grîîï(jñi(r(èsnoP(jgóm(îrpj(sn(gpi(r(jsnoîï(niik(hm(ñl(wîsjó(sn(Yn(oîsjóJ(Uh(
órj(wiin(jómn(hórh(IM«(mò(sn(ki(ik(ñl(wîs(gr(hs(mnj(ljij(YZb(òmp(ks(jgs(ñîs(nrpï(¨viL
ks(grî(gmv(vl(ns(gr(hsmn(¨[s(rn(nm(ns(HMMä{(KM§J(RmP(sh(m(lîk(rñ(ñi(rp(hórh(ñl(wîsj(ósno(
sj(rî(vmjh(i(gîl(js(uiîï(grp(psik(mlh(hópm(loó(hói(vi(ks(lv(mò(Yn(oîsjó(¨Xlj(rèP(ZiL
èm(sg(HMMä{(KKåJ(Rsn(gi(YUZ(pi(ji(rp(góipj(km(nmh(ñmj(jijj(Yn(oîsjó(rj(hói(sp(ûpjh(îrnL
ol(r(oiP(sn(vrnï(gr(jij(hóiï(i(ñi(ps(in(gi(opi(rh(ñpm(wîivj(sn(ñpm(kl(gsno(vr(nl(jgpsñhj(
ósgó(rpi(rg(giñ(hr(wîi(hm(sn(hip(nr(hs(m(nrî(ìm(lp(nrî(iks(hmpj(rnk(pi(us(i(ipj(¨bîm(ip(ki(
HMMä{(ââJ(Rlgó(ps(hipj(jlò(òip(òpmv(¥hói(hps(ñîi(ks(jr(kurn(hr(oi(mò(ór(usno(hm(pirkP(km(
pi(ji(rpgó(rnk(ps(hi(sn(rnmh(óip(îrn(ol(r(oiø(¨crn(Xsìè(KII§{(HâãJ(^pij(jl(pi(hm(ñl(wîsjó(
sj(gmv(ñm(ln(kik(òmp(YRZ(ps(hipj(óm(jhplo(oîi(shó(hói(rk(kik(górî(îin(oi(mò(vr(jhiL
psno(hói(Yn(oîsjó(îrn(ol(r(oi(¨©rnoP(arè(èin(HMM§{(KäKLKäHJ(Vóiï(îrgè(rki(úl(r(hi(
ps(hsno( i(ñi(ps(in(gi( rnk( wr(jsg( ln(kip(jhrn(ksno( mò( rgr(ki(vsg( ps(hsno( òmp( jgóm(îrpîï(
ñl(wîs(gr(hsmnP(hórh(sj(rlks(in(gi(rr(pi(nijjP(pói(hm(ps(grî(ñrh(hipnjP(gm(ói(pin(giP(hm(nij(rnk(
hói(gmv(ñm(js(hsmn(jèsîîj(rnk(jhpr(hi(os(ij(rnk(lji(hói(sp(nr(hs(ui(îrn(ol(r(oi(hm(mp(or(ns(i(rpL
hsg(îij(¨©rnoP(arè(èin(HMM§{Kä§LKäåJ(Xsò(û(glî(hs(ij(hórh(YRZ(ps(hipj(ór(ui(pi(òip(hm(
jshgósno(wih(i(in(îrn(ol(r(oij(rnk(sn(hiî(îig(hlrî(jhïîij(rnk(rpi(pi(îr(hik(hm(hói(nr(hl(pi(
mò(hói(ksò(òi(pin(gij(hórh(isjh(wih(i(in(ksò(òi(pinh(îrn(ol(r(oijP(îsn(èsno(hói(ji(hm(sn(hiîL
îig(hlrî(hpr(ks(hs(mnjP(glî(hl(prî(ur(îli(jïjhivj(rnk(jhplg(hl(prî(gmn(ks(hs(mnj(mò(ñrp(hs(gl(îrp(
îrn(ol(r(oi(jïjhivjJ(Wm(jñi(gs(r(îsjh(ks(jgm(lp(jij(prh(óip(hórn(rgr(ki(vsg(ks(jgm(lp(jij(sn(
oi(ni(prî(rpi(wi(sno(ks(jglj(jik(sn(ósgó(kr(hr(mò(psh(hin(rnk(jñm(èin(gmv(vl(ns(gr(hs(mnj(
sn(ñpm(òij(js(m(nrî(jih(hsnoj(rpi(gmv(ws(nikJ(^l(wîsj(ósno(nr(hl(prîîï(in(hr(sîj(ps(hsnoP(rnk(
ñip(órñj(îijj(mw(us(m(ljîïP(pi(r(ksno(rj(iîî(¨Xlj(rèP(Zi(èm(sg(HMMä{KMIJ(RmP(piL
ji(rp(góipj(ór(ui(hm(vr(jhip(hói(Yn(oîsjó(îrn(ol(r(oi(jñi(gs(û(gs(hs(ij(wmhó(sn(jhlkï(vih(ómkj(
rnk(pi(jlîh(sn(hip(ñpi(hr(hsmn(rnk(hóiï(m(lîk(rî(jm(niik(jñi(r(èsno(¨mprî(ñpi(jin(hr(hsmn(
jèsîîj(pi(îr(hik(hm(rññîïsno(hói(sp(pi(ji(rpgó(pi(jlîhj(sn(ñpm(òij(js(m(nrî(mpèJ(ôr(jhi(psno(
ps(hsno(jèsîîj(ki(jip(uij(jñi(gsrî(rh(hin(hsmnJ
úOuO'~KJ'GJpx'vFK'KA'DA'oKqt'z@'yBJ'qo'GJFp'z@K'zF'DAD
Un(jgs(in(hs(ûg(ps(hsnoP(sh(sj(gpl(gsrî(òmp(hói(YUZ(jgóm(îrpj(hm(i(ñpijj(hóiv(jiî(uij(sn(
Yn(oîsjó(rj(gîi(rpîï(hóiï(m(lîk(sn(hói(sp(mn(îrn(ol(r(oiJ(Rm(vi(rlh(ómpj(ór(ui(psh(hin(
rwm(lh(hói(jhplo(oîi(shó(Yn(oîsjó(wï(nmnLnr(hs(ui(jñi(r(èipjJ(Vólj(ain(û(iîk(grîîj(hósj(
i(rè(rñ(ñpi(gs(r(hsmn(mò(hói(gmn(uin(hs(mnj(mò(ks(jgm(lp(ji(sn(Yn(oîsjó(hói(®Yn(oîsjó(ZrnL
ol(r(oi(alp(kinf(¨YZa(¨ain(û(iîk(HMMâ{(çãçLçã§J(©ps(hipj(óm(lji(YQZ(vrï(niik(
hm(ps(hi(shó(hrp(oi(hik(rh(hin(hsmn(rnk(vr(èi(gmn(js(ki(pr(wîi(iò(òmph(hm(gmvñîï(shó(isL
jhsno(nmpvj(¨bîm(ip(ki(HMMä{(äHJ(
§ãH

VdY(YW[ZURd(ZQW[\Q[Y(T\``UT\Z\ô(bS`(XSTVS`QZ(RV\XYWVR(Sb(JJJ
YRZ(ps(hipj(jóm(lîk(wi(in(gm(l(pr(oik(hm(sn(hip(nr(îs(i(hói(gps(hi(psr(mò(ommk(ps(hsnoP(
iur(îl(r(hi( hói(sp( mn( mpèP( rnk( lji( ñpm(òij(js(m(nrî( sn(jhplg(hs(mnj( hópm(loó( r( ps(hsno(
jèsîîj(ki(ui(îmñ(vinh(ñpm(gijj(¨©rnoP(arè(èin(HMM§{KäâJ(Qj(ps(hsno(jgs(in(hs(ûg(ijL
jrïj(pi(úl(s(pij(nmh(mnîï(r(ommk(gmv(vrnk(mò(hói(Yn(oîsjó(îrn(ol(r(oiP(wlh(rî(jm(rr(piL
nijj(mò(hói(mp(or(ns(r(hs(m(nrî(ñrh(hipn(rnk(òmp(vrh(mò(hói(pi(ji(rpgó(rp(hsg(îij(¨`QjP(YRZ(
ps(hipj(niik(ki(hr(s(îik(hpr(s(nsno(sn(hói(pói(hm(ps(grî(gr(hi(om(ps(ij(mò(ksò(òi(pinh(jig(hs(mnj(mò(
hói(`Q(rnk(sn(hói(lji(mò(ñip(jl(r(js(ui(pói(hm(psg(hm(ijhr(wîsjó(r(nsg(ói(òmp(pi(ji(rpgó(sn(hói(
mp(or(ns(r(hs(m(nrî(ks(jgm(lp(ji(gmv(vl(nshï(¨Qî(wm(^l(in(hij(HMMä{HMåJ(Vói(wr(jsg(oîm(wrî(
jhplg(hl(pi(mò(hói(vi(ks(grî(`Q(sj(iîî(km(gl(vin(hikæ(hói(hpr(ks(hs(m(nrî(jig(hs(mnj(mò(sn(hpmL
klg(hsmnP(vih(ómkjP(pi(jlîhj(rnk(ks(jglj(jsmn(¨Uô`X(rpi(pi(úl(s(pik(wï(vrnï(vi(ks(grî(
ìm(lp(nrîj(rj(r(vrh(hip(mò(iks(hm(psrî(ñm(îsgïJ(ôm(uij(¨Rr(îijP(KIäKP(KIIM(rpi(ljik(hm(
ki(jgps(wi(hói(jgói(vr(hsg(jhplg(hl(pi(hópm(loó(ósgó(r(ñrp(hs(gl(îrp(ñip(jl(r(js(ui(gmv(vlL
ns(gr(hs(ui(ñlp(ñm(ji(sj(pi(r(îs(jikP(ói(pi(hói(jhplg(hl(pi(sj(hói(pi(jlîh(mò(hói(gmn(uin(hs(mnj(
ósgó(ór(ui(ki(ui(îm(ñik(sn(r(jñi(gs(ûg(ks(jgm(lp(ji(gmv(vl(nshïJ(Un(YQ^P(vm(ui(rnrîïjsj(
sj(mò(hin(ljik(hm(i(ñîm(pi((hói(gmv(vl(ns(gr(hs(ui(òln(ghs(mnj(rnk(îsn(ol(s(jhsg(òi(r(hl(pij(mò(r(
os(uin(oin(pi(¨Vrv(wlî(Yî(ôr(îsèP(Wi(js(HMMä{(äâLääJ(
Vói(BGF)H(mp(BGF)b@==(rñ(ñpm(rg(óij(hm(ps(hsno(¨bîm(ip(kiP(^i(r(gmgèP(HMMK(wmhó(
ór(ui(rkurn(hr(oij(rnk(i(rè(nij(jijP(jm(r(gmv(ws(nr(hsmn(mò(hói(hm(ji(ivj(hm(wi(hói(
wijh(mñ(hsmn(sn(mlp(hi(rg(ósno(js(hl(r(hsmnJ(Vói(jhr(oij(hm(wi(òmî(îm(ik(rpi{
L( Xi(ui(îmñ(GJ@)>F)G9)bAC)AgA)G@):@==)(wï(îm(m(èsno(rh(vm(kiî(hihjæ
L( ^prg(hs(ji(jñi(gs(ûg(;@:)G@)òi(r(hl(pijP(ijñi(gs(rîîï(vm(uij(rnk(ps(hip(jhrn(giæ
L( Tr(ppï(mlh(ps(hsno(hrjèj(jóm(sno(rr(pi(nijj(mò(hói(:@)@H=)Fi)9:)H9)Q9)HJ@)H9)=bF)J@)B9:;Ü
L( Yur(îl(r(hi(hói(ps(hsno(¨hópm(loó(B@)@G)G@)Q9)@g)mp(pi(òmp(vl(îr(hsmnJ
ôr(èsno(lji(mò(`Qj(sv(ñîs(ij(pi(gmn(jhplg(hs(ui(ps(hsno(ósgó(jhrphj(òpmv(òprg(hlL
pik(jin(hin(gijP(mp(nm(hijP(mp(orñ(ñik(hihJ(bmp(irv(ñîi{
• Un(hpm(klg(hsmn{(shó(uipw(hin(ji(góm(s(gijæ
• ôih(ómk{(górn(osno(rg(hs(ui(uipwj(wrgè(hm(mps(os(nrî(ñrj(js(uiæ
• `i(jlîhj{(ûî(îsno(orñ(ñik(hih(shó(pi(òi(pin(gi(hm(hr(wîij(rnk(û(ol(pij{
• Xs(jglj(jsmn{(orñ(ñik(hih(shó(vmjh(gmv(vmn(úl(i(jhs(mnjP(òm(gl(jsno(
mn(ñpm(wr(ws(îshï(rnk(rp(ol(vinh(¨ôs(gsg(HMMâ{(KKJ
Uò(YUZ(pi(ji(rp(góipj(wi(gm(vi(rg(úl(r(sn(hik(shó(hói(ln(kipîïsno(gmn(uin(us(mnj(mò(hói(
`QjP(hóiï(grn(wi(jiîòLjlò(û(gs(inh(óin(ps(hsno(jgs(in(hs(ûg(ñr(ñipj(hm(wi(ñl(wîsj(óik(sn(
Yn(oîsjóJ(Vóiï(sîî(rî(jm(wi(rwîi(hm(ps(hi(lñ(hói(pi(jlîhj(mò(hói(sp(jgs(in(hs(ûg(pi(ji(rpgó(
hm(wi(ñl(wîsj(óik(sn(ijhr(wîsj(óik(vi(ks(grî(ìm(lp(nrîj(¨Qî(wm(^l(in(hij(HMMä{(Hç§J
§ãç

aF{EA)o9û9û
úOúO'-s'GKoÅBJp'x@'J'DGJq'KA'o'DFpD'vFK'-./0/
Rlg(gijj( sn( rgr(ki(vsg£jgs(in(hs(ûg( ñl(wîs(gr(hsmn( sj( nmh( jm(îiîï( wr(jik( mn( îsn(ol(s(jhsg(
òrg(hmpjP(wlh(hói(pi(rpi(úl(i(jhs(mnj(mò(îm(gr(hsmn(¨gin(hpi(ujJ(ñi(psñ(óipïP(îi(uiî(mò(i(ñipL
hs(ji(¨ìl(ns(mp(ujJ(ji(ns(mp(pi(ji(rp(góipj(rnk(nih(mpè(rg(gijjJ(Qj(hm(îm(gr(hsmnP(sh(órj(wiin(
jómn(hórh(sn(hói(û(iîk(mò(jgs(in(hs(ûg(ñl(wîsj(ósnoP(vmjh(`Qj(sn(s(kiîï(pirk(ñi(ipLpiL
us(i(ik(jgs(in(hs(ûg(ìm(lp(nrîj(rpi(rlh(óm(pik(wï(ps(hipj(òpmv(sn(kl(jhps(r(îs(ik(gm(ln(hps(ij(
¨hói(gin(hpiJ(Un(gmn(hprjhP(jgs(in(hs(ûg(pi(ji(rpgó(mlh(ñlh(sj(jso(ns(û(grnhîï(îm(ip(sn(hói(
ki(ui(îm(ñsno(mpîk(¨hói(ñi(psñ(óipïJ(Vói(ki(opii(mò(i(ñi(ps(in(gi£i(ñip(hs(ji(sn(rgr(kiL
vsg(ñl(wîs(gr(hsmn(rnk(ñpm(û(gs(ingï(sn(gip(hrsn(oin(pij(mò(rgr(ki(vsg(ks(jgm(lp(ji(¨nm(us(gi(
ujJ(i(ñiph(ksg(óm(hmvï(ór(ui(wiin(pi(ñmp(hik(hm(wi(vm(pi(sv(ñmp(hrnh(hórn(wi(sno(r(nrL
hs(ui(jñi(r(èip(mp(rn(YUZ(pi(ji(rp(góip(¨dïîrnkP(HMMMP(HMMãJ(bs(nrîîïP(ni(hig(ónm(îmoïP(
jlgó(rj(ni(iîig(hpm(nsg(vr(nl(jgpsñh(jlw(vsj(jsmn(pi(úl(s(pi(vinhj(sv(ñm(jik(wï(îi(r(ksno(
jgs(in(hs(ûg(ìm(lp(nrîjP(vr(èij(sh(vm(pi(ksò(û(glîh(òmp(ñi(psñ(óipï(rgr(ki(vsgj(hm(gmn(hps(wl(hi(
hói(sp(jór(pi(hm(sn(hip(nr(hs(m(nrî(jgs(in(gi(¨nih(mpè(rg(gijjJ(dm(i(uipP(hói(pi(pi(vr(snj(r(
ñpm(wîiv(hórh(nmnLks(jglp(js(ui(òrg(hmpj(uipï(òpi(úl(inhîï(om(órnk(sn(órnk(shó(ñm(mp(
îsn(ol(s(jhsg(jèsîîjJ(arkîï(psh(hin(rp(hsg(îij(gmp(pi(îr(hi(shó(r(ósoó(pi(ìig(hsmn(pr(hi(¨Rr(îrL
oipLôiïip(HMMä{(KHHLKHãJ
O'Z4),1'X-'ZL'a3Z'/a-Y')1'[-'-./0/'Y43'31'Y4',40
Vr(èsno(sn(hm(rg(gm(lnh(rîî(hói(rwm(uiP(ói(pi(sj(hói(mlhîs(ni(mò(r(ñpm(jñig(hs(ui(YXRôR(
glp(ps(gl(îlv{
KJ(( òi(r(hl(pij(mò(YR^£YQ^£YôQ^æ(hói(Yn(oîsjó(îrn(ol(r(oi(mò(ws(m(vi(ks(gs(niP(rj(hói(
îi(r(ksno(îrn(ol(r(oi(mò(vi(ks(grî(jgs(in(gi(rnk(shj(jñi(gs(û(gs(hs(ijæ
HJ( pi(r(ksno(hig(óns(úl(ijP(kr(hr(gmî(îig(hsmnæ(ps(hsno(`Qjæ(os(usno(mprî(ñpi(jin(hr(hsL
mnjæ
çJ( hói(lji(mò(jñi(gs(r(îs(ik£vi(ks(grî(rnk(pi(îr(hik(ksg(hs(m(nr(ps(ijæ
§J( hói(lji(mò(gs(hr(hsmn(sn(ki(ij(¨Tlp(pinh(Tmn(hinhjæ
åJ( òmp(vrî(vi(ks(grî(gmp(pi(jñmn(kin(gi(sn(Yn(oîsjó(¨òmpvjP(îih(hipjP(TcJ
±O'~*5/'ZL'-./0/'Y43'31'Y4',40'10'a,-'0-X')*')1ZX
Vói(YXRôR(glp(ps(gl(îlv(sv(ñîi(vin(hr(hsmn(ji(ivj(hm(wi(vmjhîï(ki(ñin(kinh(mn(
hói(îm(gr(hsmnP(vi(r(nsno(hórh(jgóm(îrpj(òpmv(hói(gin(hpi(rpi(vm(pi(jlg(gijjòlî(sn(hói(lji(
mò(Yn(oîsjó(òmp(pi(ji(rpgó(ñl(wîs(gr(hsmn(ñlp(ñm(jij(hórh(hóm(ji(sn(hói(ñi(psñ(óipïJ(dm(iL
uipP(hói(pi(órj(wiin(ius(kin(gi(hórh(jgóm(îrpj(îm(gr(hik(sn(hói(gin(hpi(vrï(òr(gi(js(vs(îrp(
§ã§

VdY(YW[ZURd(ZQW[\Q[Y(T\``UT\Z\ô(bS`(XSTVS`QZ(RV\XYWVR(Sb(JJJ
vr(hi(psrî(rnk(îsn(ol(s(jhsg(ñpm(wîivj(hm(hóm(ji(sn(hói(ñi(psñ(óipï(¨Tl(ppï(…(Zsî(îsjP(HMM§P(
rnk(hósj(vsoóh(wi(hói(gr(ji(mò(Rñrsn(¨bipnÏnki(^m(îmP(Trî(cr(pi(îr(HMMI{(KåçJ(Vósj(
vi(rnj(hórh(hói(nr(hsmn(jhr(hi(vrï(ór(ui(r(pm(îi(hm(ñîrï(sn(hipvj(mò(shj(ñm(îsgï(pi(orp(ksno(
Yn(oîsjó(îrn(ol(r(oi(ikl(gr(hsmn(òmp(jgs(in(gi(pi(ji(rp(góipj(¨Rr(îr(oipLôiïip(HMMä{KH§J(
Uh(sj(sn(hi(pi(jhsno(hm(nm(hi(hórh(sn(ji(ui(prî(ki(ui(îm(ñsno(gm(ln(hps(ijP(hói(pi(isjh(jgs(in(hs(ûg(
ps(hsno(gm(lp(jij(sn(Yn(oîsjó(¨Un(ksrP(Tós(nrP(UprnP(Tpm(r(hsrP(apr(sî(rnk(ci(ni(l(i(îrJ
O'+-'X-'L1)/'ZL')b-'a3Z'aZ'/-.'-./0/'Y43'31'Y4',40
Sn(r(jvrî(îip(jgr(îiP(YUZ(kmg(hm(prî(grn(ks(kr(hij(sn(vi(ks(grî(jgs(in(gij(m(lîk(wi(rwîi(
hm(ñpm(kl(gi(sn(hip(nr(hs(m(nrîîï(pi(gmo(ns(ik(`Qj(sn(hói(Yn(oîsjó(îrn(ol(r(oi(ñl(wîsj(óik(sn(
ñpi(jhs(os(m(lj(ñpm(òij(js(m(nrî(ñl(wîs(gr(hs(mnjJ(Sn(r(îrp(oip(jgr(îiP(sh(ji(ivj(hórh(hprn(jîr(hmpjP(
hip(vs(nm(îm(osjhjP(km(gl(vin(hr(îsjhjP(rñ(ñîsik(îsn(ol(sjhj(rnk(îrn(ol(r(oi(hi(rg(óipj(sîî(wiL
gm(vi(vm(pi(rnk(vm(pi(ni(gij(jrpï(sn(jgóm(îrpîï(gmv(vl(ns(gr(hsmnJ(Rlgó(r(vm(ui(m(lîk(
ñpm(vm(hi(jgs(in(hs(ûg(vlî(hs(îsn(ol(r(îsjvP(ósgó(sj(r(vi(rnj(òmp(jgs(in(gi(hm(wi(hplîï(lnsL
uip(jrî(¨Rr(îr(oipLôiïip(HMMä{(KHIJ
Vói( ñpm(ñm(jik( YXRôR( glp(ps(gl(îlv( jóm(lîk( wi( gmn(js(ki(pik( vm(pi( i(hin(js(uiîïJ(
Vói(û(nrîP(rg(giñ(hik(uip(jsmn(m(lîk(wi(sn(ur(îl(r(wîi(òmp(rîî(kmg(hm(prî(jhl(kinhj(mò(viL
ks(grî(jgs(in(gij(¨vi(ks(gs(niP(kin(hs(jhpïP(ui(hi(ps(nrpï(vi(ks(gs(niP(ñórp(vrgï(sn(hórh(hóiï(
m(lîk( ór(ui( r( jhrn(krp(ks(ikP( vl(hl(rîîï( rñ(ñîs(gr(wîiP( Yn(oîsjó( òmp( vi(ks(grî( jgs(in(gij(
glp(ps(gl(îlvJ(Uh(gm(lîk(wi(rñ(ñîsik(rh(lns(uip(js(hs(ij(sn(rîî(hói(nmnLYn(oîsjó(jñi(r(èsno(gmL
ln(hps(ij(rnk(hólj(ór(ui(sn(hip(nr(hs(m(nrî(s(ki(jñpi(rk(ljiJ
3-'L-'3-X'Y-/
Qî(wm(^l(in(hijP(ZJ(¨HMMäJ(Xi(ui(îm(ñsno(rgr(ki(vsg(rnk(hig(óns(grî(ps(hsno(jèsîîj(òmp(vi(ks(grî(
ñlp(ñm(jijJ(Un{(c)^@)Q@)CFB)P@:>=)9:)]:);C9=J)iFG)TbA)H@)P9bl)aB@)b9){b)A:H)Zb)b9r
F):AC)O

aF{EA)o9û9û
bîm(ip(kiP( eJ( ¨HMMäJ( Rgóm(îrpîï( ps(hipj( óm( lji( Yn(oîsjó( rj( rn(Qk(ks(hs(m(nrî( Zrn(ol(r(oi{(
©órh(grn([mò(òvrnfj(¥Rhso(vrø(hiîî(lj¬(äF))[])aZ8)]=)=Ae=(¨RJ(Rsî(wip(jhisnP(ikJP(
aîm(m(vsno(hmnP(UZ{(^rn(hr(oprñó(^psn(hsnoP(KKåLKçHJ(
ôs(ísíP(RJ(¨HMMçJ(Sjm(wi(nm(jhs(ìi(s(èr(r(nr(lê(ni(s(jhplê(ni(nr(vi(niJ(a>F)PA)>F)CF)WR9);CA)=:9R)
aG)f9)E@P(HP(rñpsîLìln(HMMçP(IâLKMKJ
ôs(gsgP(RJ(¨HMMâJ(Vi(rg(ósno(vi(ks(grî(ps(hsno(sn(rn(sn(hi(opr(hik(jèsîîj(rñ(ñpm(rgó(sn(aiî(opr(kiJ(
[J@)_G9)>@)a>

VdY(YW[ZURd(ZQW[\Q[Y(T\``UT\Z\ô(bS`(XSTVS`QZ(RV\XYWVR(Sb(JJJ
FÇ;(Ö>(y;(Ç(yz@=(>(y(~>=(F?>Ñ(E(Ö@(¨A@(?zC(>(É@(ÖC(>(BC(ÇC((=CJ('A(A;?L
Ç;((|C(@Ñ(ÇC(B@(A@(;:(Ö@(BÅN(ÖN(=@(C=(EzC(F?;O(ÖC(>(?N(?;(Ö>(ÖC(îsn(olr(òprn(gr(=@L
N(?CJ(%;(FN(>F(Ç(B@(}>(?;(Ö>(?;((FÇC(C=(EzC(F?>(?@;(OC(N(=@((ÖC(>?(¨(ÖC(y;(=@(Ç>(
?@;(=C(>(B;(E;(B;(~>J(+;(?@(@(z;(FC(A@(;=>(=C(Bz@(A@(ÖN(A;(B;Å(=;(A;(:O(
ÖC(>(?;O(¨}>(Ç@(àCP(=@((Ç;(y>(F@(àC(=@(N}(=>Ñ((E;(B;(=CJ('=>(y;(?@(N(ÖN(
;F=;B(=;(=C(y;(=@(B@(àC(A>F(?NÑ(;:(Ñ((?NJ(%N(
FN(>(=C(z>=(EB>(FÇ>}(?>(;ÇC(G@(B@(ÖN(D>(É@?(Ç;((BC(@(=>(@(EC(;(E(y(y(FÇNy(CzC?(Ç(?@J(3(;:(>((?;=(~CyÇ(=@(FÇ@B(=;E(yz@(=@(>(y=(F?>Ñ(=@(N(?@J('=(:>(;:(N(ÑB@(Ç>;(FzC(AC(DC{(;A(z>(?C(.=(EzC(F?;E(ÖC(>(?@(FÇ(?@(@(@?@(ACO(F?C(y;(Ç(?@(:>(;(OC(A>(~>(=CP(?@;(B;(AC(DCE(ÖC(>(?@(
=@(N(?CP( @(Ç>O( Ny;(Ç(Ö@(z>(;(B@(=>Ñ( (?@P( ÇCÑ(=>(?C( }>(Ç@(à@P( F@(?N(yÅ@(à@( y;L
A@(Ç@(?@P(y>(F@(àC(=@(N}(=>Ñ((Ç@Ç(=>Ñ(>=(AC?(F@(
¨Tlp(pinh(Tmn(hinhjP(C=(EzC(F?>(ÖC(>?(N(y>(F@(=;Ö(?;(ON(=>(?@(~>(Ö>(8(É;(FzNP(;B@(?@B(yz@=(>(y;(NFB;(ÖC=P(;O;(EN(D>;(:>(A;?(Ç;((O@(?;(Ö>(?;((FÇC(C=(EzC(F?>(?@;(OC(N(=@((ÖC(>?(A@(;:(Ö@(BÅN(ÖN((:>(:>(z>(OC(N(=@((N(B;(AC(D>O(FBCÇ(F?>O(
OC(A>(~>=(F?>O(yN(:z>(?@(~>(Ö@(O@J(0@(|>((y(yz>(=@(Ç>O(F?>((FÇ@=L
A@(;(B@=(É;(O;(E@;(A@(:N(AC(N@(Ö@O(=;(y(OC(à>B(=@(FB>O(É@(?Nz(ÇC(Ç>(O@(OC(A>L
~>=(F?C(E(ÖC(=CLC=(EzC(F?;E(E;(B;

§ãä

Y;#B

U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
nr(vnm(osv(juih(jèsv(lns(uip(s(hi(hs(vr 1 J(`i(òmp(vr(lns(uip(s(hih(jèmo(mw(pr(m(ur(nìr(l(
nr(émì(i(vîìs(s(ró(hiu(kr(ji(nr(jhru(ns(jr(kp(ër(ìs(j(ìik(ni(jhpr(ni(mjr(upi(vi(ni(s(lês(ni(
ñprè(hsê(ns(ìsvP(r(j(kpl(oi(kr(ji(lj(èîr(ki(jr(mns(vr(èm(ìs(ñm(jhm(ìi(nr(lns(uip(s(hi(hs(vr(l(
i(vîìr(vr(èm(ìi(jl(ñmh(ñs(jns(gs(am(îmnì(jèi(ki(èîr(pr(gs(ìiP(ñpl(ës(îs(jl(km(wpl(mjnm(ul(kr(
ji(s(nr(nr(ésv(û(îm(îm(éèsv(jhl(ks(ìr(vr(lui(kl(jr(kp(ër(ìs(èm(ìs(ws(mw(pr(⁄s(ur(îs(lñm(hpi(wl(
pr(êl(nr(pr(l(nr(jhr(us(ìi(s(èr H J(
\(mumv(pr(kl(ñpik(jhr(uîìi(nm(ìi(lum(⁄i(nìi(s(wmp(nmo(ñpik(vi(hr(\êi(nìi(ìi(s(èr(l(
ñm(vmí(pr(êl(nr(pr(nr(Xi(ñrph(vr(nl(r(rn(oîs(jhs(èl(nr(bs(îm(mò(jèmv(òr(èlî(hi(hl(l(Ws(élP(
èrm(s(jr(kp(ërì(s(gsîì(ñpik(vi(hrJ(Wrì(ñpi(íi(vm(pi(ís(ni(éhm(m(jr(vmv(ñpik(vi(hl(s(l(êr(urL
nìr(mui(ñps(vi(nìi(nm(îsn(ous(jhsê(èi(ks(jgs(ñîs(niP(r(hsv(íi(vm(lèprh(èm(om(um(ps(hs(m(jr(kp(ërL
ìl(s(gs(îìi(us(vr(èlp(jrP(iur(îl(r(gs(ìs(jhi(êi(nsó(nr(nìr(s(ui(éhs(nrP(r(nrì(ui(ís(kim(pr(kr(ws(íi(
ñm(jui(íin(hm(vi(èr(èm(ji(jr(kp(ër(ìsP(gs(îìi(us(s(iur(îl(r(gs(ìr(èmn(èpih(nm(jñpm(um(kiJ
Wrì(mñ(éhs(ìi(pi(êi(nmP(TQZZP(hìJ(lêi(nìi(ìi(s(èr(l(ñm(vmí(pr(êl(nr(prP(vm(ëi(ji(ìikL
nm(jhru(nm(jóur(hs(hs(èrm(èm(ps(éíi(nìi(sn(òmp(vr(gs(m(nmLèm(vl(ns(èr(gs(m(nsó(hió(nm(îm(os(ìr(l(
nr(jhr(us(s(lêi(nìl(ìi(s(èrP(rîs(hm(ìi(l(jhur(ps(ui(m(vr(és(pm(èr(mwîrjh(sj(hpr(ës(ur(nìr(èm(ìr(
ji( wr(us( pr(îs(ês(hsv( vm(olí(nm(jhs(vr( ñps(vi(ni( pr(êl(nr(pr( l( nr(jhr(us( s( lêi(nìl( ìi(s(èr(
8( ¥TQZZ( sj( hói( ji(rpgó( òmp( rnk( hói( jhlkï( mò( rñ(ñîs(gr(hs(mnj( mò( hói( gmv(ñl(hip( sn(
îrn(ol(r(oi(hi(rg(ósno(rnk(îi(rp(nsnoff(¨Ziuï(KIIâ{KJ(Wi(èi(mk(pr(nm(up(jnsó(s(vnm(omL
wpmì(nsó(hi(vr(èm(ìs(vr(ji(mur(mwîrjh(wr(us(jl(jhur(pr(nìi(mn(îrìn(mèpl(ëi(nìr(s(js(jhi(vr(
r(lêi(nìiP(pr(îs(ês(hi(lîm(oi(nr(jhru(ns(èr(l(mur(èumì(up(jhs(nr(jhr(uiP(èm(ps(éíi(nìi(sn(òmpL
vr(gs(m(nmLèm(vl(ns(èr(gs(m(nsó(hió(nm(îm(os(ìr(l(ljr(up(ér(ur(nìl(nr(jhru(ns(èrP(lhs(grì(jr(prkL
nìi( s( sn(hip(rè(gs(ìi( l( èmv(ñìl(hip(jèmì( èm(vl(ns(èr(gs(ìs( nr( lêi(nìi( jhpr(nmo( ìi(s(èr( s( jîJ(
¨us(ki(hs(prj(ñmn(hi(vr(l(aljó(rnk(Vipï(KIIãP(Tór(ñiî(îi(HMMK(s(HMMçP(Rmn(HMM§P(
Ziuï( rnk( Rhmg(èiîî( HMMãP( Yo(wiph( HMMåP( Yo(wiph( rnk( ^i(hpsi( HMMåP( Yo(wiph( rnk(
drn(jmnLRvshó(HMMâP(Yp(win(rnk(Rr(ps(i(ur(HMMäP(©rp(jór(l(ip(KIIãP(©rp(jór(l(ip(rnk(
di(r(îiï(KIIäJ
K( ( Xr(ñm(vi(ni(vm(jr(vm(ni(èm(îs(èm(nrì(nr(êrì(ns(ìsó{(l(Rìi(ks(nìi(nsv(Qvi(psê(èsv(Xp(ër(ur(vr(L(Rhrn(òmpk(\ns(uip(jshï(
¨(óhhñ{££JjhrnòmpkJikl£ıiòj£grîîgmlpji£snkiJóhvP( Sósm( \nsuipjshï( ¨(óhhñ{££JmósmJikl£îsnolsjhsgj£
TQZZjiúlingiP( l( Qljhprîsìs( L( \nsuipjshï( mò( Rmlhó( ]liinjîrnk( ¨(óhhñ{££JljúJiklJrl£ljipj£
jmnìw£grîî£P(l(Yupmñs(L(\nsuipjshï(mò(Yjji(¨(óhhñ{££JijjiJrgJlè£gmlpjiûnkip£gmlpjikihrsîjJ
rjñ¬gmlpjiÕvr¡¡úKKçKHP( Vpsnshï( Tmîîioi( Zmnkmn( ( ¨(óhhñ{££JhpsnshïgmîîioiJgmJlè£
jshi£¬skÕHIçP(\nsuipjshï(mò(dlîî(¨(óhhñ{££JólîîJrgJlè£hijmîP(\nsuipjshœh([si—in(¨(óhhñ{££J
lnsLosijjinJki£vjòJ(
H( ( S((nr(êr(ìl(s(v(mol(ínmjhsv(r(lêinì(r((ìisèr(l((ñmvmí(prêlnrprP(ñmjiwnm((l(nré(mì(j(pi(ksnsP(uskihs(l(ôs(és(í(
§âM
Uîsí(HMMâJ(

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
mO'4¢-'Xû-'û-'§1'{*'4§'aZ'0Z¨'3*'¢4'X*'3*''
{*Z'*{*'.-0'/{1'a3-.'0-)
mOlO'/zA'qJ'ñ'}o'qJ'ôo'zKAH'EA'Go
\êi(nìi(ìi(s(èr(l(ñm(vmí(pr(êl(nr(pr(lui(ki(nm(ìi(èrm(nm(us(s(wmp(ns(rèr(kiv(jès(ñpikL
vih(r(jhl(kin(hi(rn(oîs(jhs(èi(nr(bs(îm(mò(jèmv(òr(èlî(hi(hl(l(Ws(él(èm(ìs(jl(lñs(jr(îs(jhl(ks(ìi(
ñm(nm(umvP(pi(òmp(vs(jr(nmv(Wr(jhru(nmv(ñîr(nl(s(ñpm(opr(vl(éèmî(jèi(HMMã£HMMâJ(om(ksL
ni(s(ñpik(us(⁄i(nm(ìi(kr(ji(s(l(êr(ur(l(mjvmv(ji(vi(jhpl 3 J(
^pik(vih(ìi(r(vs(éîìin(èrm(èpr(hrèP(ìik(nm(ji(vi(jhprî(ns(s(wmp(ns(jhplê(nmLrñîs(èr(hsu(ns(
èlpjP(jr(òmn(kmv(êr(jm(ur(K¡K(s(nm(js(hps(èpi(ks(hr(¨YR^aJ(Wr(jhr(ur(ji(s(um(ks(l(pr(êlL
nrp(jèmì( lês(m(ns(gsP( oki( jhl(kin(hs( ñp(uin(jhui(nm( lêi( èpm( ñprè(hsê(nl( ñps(vi(nl( nr(nìr(
¨nr(in(oîi(jèmv(ws(ji(hm(ur(îm(êJA:H=rF:)bF)P(èm(ps(éíi(nìi(sn(hip(ni(hrP(èrm(s(mk(jîl(érn(mwr(ui(ns(ñpik(vih(ôi(hmL
ks(èr(nr(jhr(uiP(èm(ìs(ji(pr(ks(l(ñi(hmv(s(éi(jhmv(ji(vi(jhplJ(ür(èm(ìi(èlpj(up(îm(ñprè(hsê(ni(
ñps(pm(kiP(ns(ìi(ñpik(us(⁄in(ìi(krn(mjnmu(ns(lkë(wi(nsè(uií(jñs(jrè(pr(nm(up(jni(mjnmu(ni(
îs(hi(pr(hl(piP(loîru(nmv(êîr(nr(èr(s(ki(îm(ur(ènìs(orP(mk(èm(ìsó(ìi(ui(ís(nr(km(jhlñ(nr(nr(sn(hipL
ni(hlP(èrm(s(sn(hin(su(nm(èm(ps(éíi(nìi(pr(îs(ês(hsó(ikl(èr(hsu(nsó(sn(hip(nih(jrì(hm(urJ 4 (
Rr(kp(ërì( ñpik(vi(hr( mw(l(óur(hr( vm(olí(nm(jhs( sn(hi(ops(jr(nìr( jr(upi(vi(ni( pr(êl(nrp(jèi(
hió(nm(îm(os(ìi(l(ñpm(gij(nr(jhr(ui(s(lêi(nìr(ìi(s(èrP(s(hm(ñp(uin(jhui(nm(s(ñi(kr(om(éèi(r(vrL
nìi(s(hió(nsê(èi(ñip(jñiè(hs(ui(¨lñm(pi(ks((Rr(îr(wi(ppï(KIIãP(drn(jmnLRvshó(KIIâJ å (Tsîì(
ñpik(vi(hr(ìi(kr(jhl(kin(hs(lñm(nr(ìl(mjnm(ui(mui(ñps(vi(nìi(nm(îsn(ous(jhsê(èi(ks(jgs(ñîs(ni(s(
ç( (^pur(oinip(rg(sìr(è(mìr(íi(o(r((jîlérhs((hi(è(ìi(jrkrP(HM(MIP(lñ(sj(rîr(êihuphl(o(mksnl(s(jîlérí(i(o(r(l(nrpiL
kn(mv(ji(vi(jh(plJ(õwmo(h(morP(l(m(umv((hpinlh(èl(ni((vmëivm((omu(mpshs(ns(m(è(rè(usv(èmnèpi(hnsv(sjèL
ljhusvr((l(n(rjhrus(mum(o(ñpikvihrP((uií(jrvm(m(ñîrn(l(s(ñpmoprvlJ((
§( ( aîrèi(HMMäP(T(órñiîîi(HMMKP(Tórñiîîi(HM(MäP(Xlkiniï(HMM(MP((X(lkiniï((rnk(dmgèîï(H(MMâP(Rinkiòòï(
HMMåP(©rpjórlipP(RóihîipP(…(ôiîmns(HMMMP(Jsgh§îhJmpoP((óhhñ{££îîhJvjlJikl£umîânlvç£kiòrlîhJ
óhvîP( JirvinoîsjóJgmvP( (JinoîsjóLmnîsniJmpoJlè( (óhhñ{££ijîJrwmlhJgmvP( JmpîkLinoîsjóJ
mpoP(JijîomîkJgmvP((óhhñ{££inoîsjóLîijjmnLñîrnJgmv,(((JljsnoinoîsjóJgmvP((óhhñ{££JwwgJ
gmJlè£mpîkjipusgi£îirpnsnoinoîsjó(s(vnmos(kplosJ
å( ( Wrjhruni(hiviP(nruikini(l(jñigsûèrgsìs(ñpikvihr(r(rèpikshrgsìl(jl{(KJ(\umknm(ñpikrurnìi(HJ(
Ujhmpsìrh(ñpsvinìinmîsnousjhsêèi(ksjgsñîsni(¥X@:E@)E@k9RA)

U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
kr(èpm(pr(nm(up(jni(ñpi(oîik(niP(ks(jèl(js(m(ni(s(ñprè(hsê(ni(rè(hsu(nm(jhs(lñm(nr(ìl(pr(îs(ês(hi(
vm(olí(nm(jhs(ñps(vi(ni(pr(êl(nr(pr(r(s(um(⁄i(nìi(nr(jhr(uiP(èpi(s(pr(nìi(s(km(ñl(nl(nr(jhru(nsó(
vr(hi(ps(ìr(îrP(jr(vm(jhrî(ns(s(oplñ(ns(prk(s(èm(vl(ns(èr(gs(m(ni(rè(hsu(nm(jhsJ(Wr(èmn(jr(uîr(krL
nmo(èlp(jrP(mêi(èl(ìi(ji(kr(jhl(kin(hs(vm(ol(kr(ljñi(énm(èm(ps(jhi(jmò(hip(r(mw(pr(kl(hiè(jhr(
s(ñpi(in(hr(gs(ìi(l(nr(jhr(usP(iîiè(hpmn(jèi(piê(ns(èi(s(pi(òi(pin(hl(îs(hi(pr(hl(plP(kr(ñpm(nr(îr(iP(
ji(îiè(hl(ìl(s(iur(îl(s(pr(ìl(vnm(om(wpmì(ni(s(pr(îs(ês(hi(uiw(vr(hi(ps(ìr(îi(s(jrì(hm(ui(pi(îi(urnh(ni(
r(nr(jhr(ul(in(oîi(jèmo(ìi(s(èrP(kr(èpi(s(pr(ìlP(rkrñ(hs(pr(ìl(s(èm(ps(jhi(nr(jhru(ni(vr(hi(ps(ìr(îi(
s(nr(jhru(ni(r(krh(èi(l(ñm(vmí(pr(êl(nr(pr(s(kr(èm(ps(jhi(jmòh(uip(jèi(ñîrh(òmp(vi(r(lêi(nìi(
nr(kr(îìs(nlJ(ür(èm(ji(pr(ks(m(ñp(uin(jhui(nm(ñprè(hsê(nmv(èlp(jlP(mñpi(ki(îs(îs(jvm(ji(kr(
ui(îs(ès(kim(mgi(niP(vrè(js(vrî(nsó(âM«P(nm(ji(ñpik(sj(ñsh(ni(mwr(ui(i(s(hm(çM«(rè(hsu(nmjh(
¨rè(hsu(nm(ñps(jl(jhum(nr(jhr(us(s(s(pr(kr(km(vr(ísó(r(kr(hr(èrP(HM«(ñpi(in(hr(gs(ìr(jr(vmL
jhrî(nmo(ñprè(hsê(nmo(pr(kr(s(HM«(ji(vs(nrp(jès(prkP(kmè(çM«(mgi(ni(ês(ns(ñs(jr(ns(sj(ñshJ
\(nr(jhru(èl(pr(kr(íi(vm(ki(hrîì(ns(ìi(om(um(ps(hs(m(ni(èsv(èmn(èpih(nsv(mwîr(jhs(vr(s(
jr(kp(ër(ìr(s(èr(èm(ji(mni(mw(pr(⁄l(ìl(nr(ñpi(kr(ur(nìs(vrP(ui(ëwr(vr(s(l(jhl(kinh(jèsv(rèL
hsu(nm(jhs(vrJ
§âH
mOmO'*}'GJn'pF'DGJ'DG@'HA'po'Go'J'}F'KJ'õÀA'pôA'DFvG'nA'Ko'@'po'DGo'nJ''
ürm(éhm(ìi(uií(ñm(vi(nl(hmP(èlpj(\êi(nìi(ìi(s(èr(ñm(vm(íl(pr(êl(nr(pr(ìi(rñîs(èr(hsuL
ns(èlpjP(éhm(nr(ês(kr(ìi(èmn(gs(ñs(prn(hr(èm(kr(jl(jhl(kin(hs(vrè(js(vrî(nm(rn(or(ëm(ur(ns(l(
jr(vm(jhrî(nmv(pr(kl(s(ui(ís(nl(hi(vrP(nr(èmn(¨pi(îr(hsu(nm(èprh(èmo(lum(krP(pr(pr(⁄l(ìl(s(
mw(pr(⁄l(ìl(jr(vsJ(Qè(hsu(nm(jhs(l(èm(ìi(jl(jhl(kin(hs(lèîìl(êi(ns(jl(pr(nm(up(jniJ
^p(umP(s(l(ih(nm(ìi(nr(êrì(nm(rè(hsu(nm(lêi(éíi(nr(êr(jlP(éhm(ìi(mîrè(ér(nm(ês(nìi(ns(gmv(
kr(ji(nr(jhr(ur(s(um(ks(l(pr(êl(nrp(jèmì(lês(m(ns(gs(r(ui(ëwi(l(opl(ñr(vr(hr(èm(kr(jur(ès(jhlL
kinh(svr(Pjumìf(pr(êl(nrpJ(Xpl(omP(mjsv(pi(kmu(nsó(km(vr(ísó(r(kr(hr(èr(èpr(íio(mws(vrP(
jhl(kin(hs( pr(ki( s( ji(vs(nrp(jèi( pr(km(ui( s( ñpi(in(hr(gs(ìi( jr(vm(jhrî(nmo( ñprè(hsê(nmo( pr(krJ(
Rur(ès(jhl(kinh(jrv(ws(pr(nr(êsn(nr(èm(ìs(íi(lpr(ks(hs(ñm(ìi(krn(mk(musó(r(kr(hr(èrP(r(ni(èi(
mk(nìsó(vm(ol(íi(ìi(pr(ks(hs(s(èrm(oplñ(ns(ñpm(ìi(èrhJ(`i(gs(vmP(jhl(kin(hs(km(ws(ìr(ìl(r(krL
hrè(kr(ñpm(nr(⁄l(s£sîs(iur(îl(s(pr(ìl(nr(jhru(ni(vr(hi(ps(ìr(îi(¨piê(ns(èiP(ikl(èr(hsu(ni(jrì(hm(uiP(
hi(jhm(ui(s(jîsê(nmJ
ür(èm(ìi(ìik(nr(mk(hi(vr(èm(ìi(ji(mw(pr(⁄l(ìl(nr(mumv(èlp(jl(èm(ps(éíi(nìi(lmws(êr(ìiL
nmo(jmòh(ui(pr(l(lêi(nìl(s(nr(jhr(us(ìi(s(èr(¨_FGHl)OF)g@G)OF)9:>l)]ñ)b@CP(shkJP(jhl(kin(hs(or(
èm(ps(jhi(mk(jr(vmo(ñm(êih(èrJ(_FGHP(jmòh(uip(r(mw(pr(kl(hiè(jhrP(èm(ps(jhs(ji(ni(jr(vm(r(
ñs(jr(nìi(uií((s(r(lr(ìrv(nm(iur(îl(s(pr(nìi(nr(ñs(jr(nsó(pr(km(urP(èm(ìs(vm(ol(ws(hs(ñs(jr(ns(s(
nr(kpl(osv(èlp(ji(us(vrP(l(èm(ps(éíi(nìi(rîr(hr(èrm(nñpJ(=B@C)CbJ@b)R@Gl)>J@)=A)GAbR)bJA:);@=s(Rhl(kin(hs(èm(ps(jhi(OF)g@G)OF)9:>(sîs(kr(nr(ñpr(ui(ñpi(in(hr(gs(ìlP(
sîs(kr(lr(ìrv(nm(iur(îl(s(pr(ìl(jum(ìi(ñpi(in(hr(gs(ìi(lpr(⁄i(ni(r(ni(èi(kpl(oi(èlp(ji(ui(s(kr(
nr(ñs(él(s(ui(éhrìJ(]ñ)b@C(ji(èm(ps(jhs(r(ius(kin(hs(pr(nìiæ(nr(s(viP(jhl(kin(hs(íi(l(opl(ñr(vr(mk(
ñm(ñih(nr(ñpr(us(hs(Y(giî(hr(wi(îlP(oki(íi(ñpr(hs(hs(jmñ(jhui(nm(ñm(ór(⁄r(nìi(nr(jhr(ui(s(ñm(i(ni(

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
jhi(êi(ni(nr(ñpik(sj(ñsh(nsv(mwr(ui(r(vrJ(Ws(ìi(nr(mk(vih(ñm(vi(nl(hs(kr(nr(Xi(ñrph(vr(nl(
r(rn(oîs(jhs(èl(nr(jhru(ns(gs(s(jr(prk(ns(gs(nr(hrì(nr(êsn(uií(om(ks(nr(vr(èmn(hs(nl(s(pr(nm(ñpr(hi(
prk(jhl(ki(nr(hrJ(üpm(prk(l(opl(ñsP(jhl(kin(hs(íi(nr(ñpr(us(hs(s(uiw(jrìh(nr(jîm(wmk(nl(hi(vlP(
èm(ps(jhi(ís(rîrh(jF)F);C@)a9)>@=J(üm(ps(jhi(ís(rîrh(jF)F);C@)jGF)

§â§
U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
wpm(ìr(piê(ns(èr(mjsv(mñ(éhsó(ñpi(hpr(ël(ìi(s(jñi(gs(ìr(îs(m(ur(ni(piê(ns(èiP(r(nr(ki(jnmì(jhpr(ns(
ièpr(nr(luiè(jl(kr(hi(huJ(wp(i(ki(û(ns(gs(ìi(¨?9)F:=P(mk(nm(jnm(îs(jhr(nrì(êi(éíi(
lñm(hpi(wîìr(ur(nsó(nr(êi(nìr(hpr(ëi(ni(pi(êsJ
\(kr(nr(énìi(upi(vi(vnm(os(îìl(ksP(r(ni(jr(vm(ìi(sê(ès(ñpm(òi(js(m(nrî(gsP(êi(jhm(ji(nr(⁄l(
l(js(hl(r(gs(ìs(kr(sv(ìi(ñm(hpi(wrn(ñpi(umk(ni(èi(pi(êsP(s(hm(ni(jr(vm(nr(in(oîi(jès(uií(s(jr(
nìi(orJ(\(hr(èusv(js(hl(r(gs(ìr(vr(l(ñm(vmí(ñps(jèr(êl(mn(îrìn(piê(ns(gs(èrm(éhm(jl(óhhñ{££
ksghsmnrpïJwrwïîmnJgmv(sîs(óhhñ{(££(ksghs(mn(rpïJpiuipj(mJnihJ(\èmîs(èm(ji(pi(ê(ê(sìi(nrL
êinìi(hprë(shi(mk(nm(js(nr(mwìièrhP(h(ìJ((ñpikvih(l(ûsêèm(v((jvsjîl(P(r(nì(in(m(nrêi(nìi(
urv((ns(nr(vr(hipnìiv((ìi(sèl(ni(omumps(vnmomP(piéinìi(ñpmwîivr(vmëi(ji(nríl(
l(jîsèmunmv(¨JñksghsmnrpïJgmv(sîs(òmhm(piênsèl(¨Jòrú(jJm(po£ñómhm(Lksgh(J(
Wr(sn(hi(pnihl(ji(v(mëi(nrís(s((v(nm(éhum(nim(wsênsó((jhurpsP(wsír(s(ñmìvmur(J(Wr(ñps(vipP(
rèm(nrs⁄(ihi(n(r(nièl(Pêlknlf(piê((èr(m(éhm(ì(i(AñFCF>)CP(vmëkr(íi(urv(ñpur(v(sjrm(wsh(s(
kr(ìi(l(ñ(sh(rnìl((opiéèr(l(ñsjr(nìl(¨(=B@CC)9:);(J((ôi⁄lhsvP((jñiîsn(o((ìi(shièrèm(hrêrnP(s(
rèm(ñmh(prëshi((ki(ûnsgs(ìl((mui(p(iêsP((uskiíihi(kr(ji(mnr(m(kn(mjs(nr(v(rî(moP(um(kin(mo(
oléhipr(èmì(s(ësus(l(ñî(rn(snjè(sv(ìi(ipsvr(l(ôi(èjsèlJ(Rsol(pnm(kr(urv((s((ñm(jîi(mumo(
m(wìrénì(inìr((niíi((wshs(ì(rjnm(èrè(m(soî(ikr(hr(ë(sumhsnì(rP(r(nìinl((j(îsèl(íi(hi(hiéè(m((nrí(s(
l(ñp(ru(mv(òmh(m(piên(sèl(8(rh(m(ìi(hl(j)FF;C@)`PA;)@=l(u(ip(murhnm((nr(ìui(ís(Pòmhm£jîsè(muL
ns((piênsè(fP(ñpièm(èmor(íi(hi(kmw(sh(s(s(òmhmoprûìl(m(umo(js(vñr(hsên(mo(vrîs(éi(J(
öh(m( ji( hsêi( p(iê(nsèr( nr( TXlP( nr( èl(pjl( ( ñp(ui(njhuin(m( (mwprí(rvm( ñrënì(l( (nr(
piênsèi(nr(TXl(è(mìs(ñprh(i(é(hrvñrni(piênsèi(ñm(nrhsó((sk(rurêr(èrm(éhm(jl{(Sòmpk(
(\nsuipjshï(^p(ijjP(Trvwps(koi(\(ns(ui(pj(shï(^pijjP((Z(mnovrn(P(Tmîîsnj((s(ôrgvs(îîrnJ(Wi(
(hp(i(wr(rwmprush(s((n(s(jmòhu(ipjès(ñr(èih([J)@)a)A;@I=)]:;C9=J)^9b>9F:AGe)A:H)[J@=A)A:HAGH:9)@:);C@)=RFr
=GB)=RFJGQA)>=R9)9)=G)B=RFJGQ)A>=RFr@:;C)@=)R9)G@X:9R)(ômphm(nr(ainj(mnr(èr(m(s(]):;C@=RF)
r=)GB)=R9SaGB)=RF)r@:);C@=R9))G@)X:)9R)=A);GA)PA>)9RFP(¨]a)a])(oplñi(r(lhmpr(¨Uo(nìrhm(us(íP(
ümu(rêiusíP(ôiji(îkë(sì(rP(crphrwiksì(rnP(cp(hrê(nsèP(cl(êè(musíP((cl(èmusí(P((èmìs(jrkpës(
ñpièm(äMPMMM(mkpiknsgr(l(mwr(ñprugrJ(Unhipnih(uipsìr(piênsèr(YRRY(¨(JsjìJ(gm(J
ïl£YRRY(£Y(RRYJóhv(mvmolíl(ìi(wijñîrhnm((ñpm(wnm(èmpsé(íinìi((pi(êns(èr(l(hp(r(ìrn(ìl(
mk(jrvm(Kå(k(rnr(sîs(å(M(ñ(ps(jhlñrJ(õr(kr(îìi(èmpséíi(nìi(nimñóm(knm(ìi(ñpihñîr(hs(hs(jiJ
^mnrhsìs( jpñjèmLinoîijès( s( inoîijèmLjpñjès( mnîrìn( piênsgs( jl( J
mnîsnipignsèJgmv(s(óhhñ{££j(pñjèmL(in(oîijès(Lp(ign(sèJgm(vJ(^pik(nmjh(ñ(pumo(pi(ênsèr(ìi(
hm(éhm((krìi(nrêinìi(ni(ñmnrhi(p(iês(ni(s(jè(îì(lêsum(l(us(kl((jrvm(ìikni(pi(êsP(uií((ñm(

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
ñmhpiws((s((l(giîs(v(piêin(sgr(vr(s(n(r(inoîi(jè(mv(s(nr(j(pñ(jèmvP((rhsvP(l(nrêi(nìi(
piês((rl(hm(vrhjès(krìi((s(jsnmns(vi(s(s(omu(mpP(èmìs(ji(ê(lì(i(èîsèm(v(nr((mk(pi(⁄i(nl(sèmnl(
¨vrk(r(ni(krìi(s((òmnihjèl(hpr(njèpsñgsìlP(krìi(kiûnsgsìi(ni(jrvm(piês(uií(s(òprrP(
shkJ(`iênsè(óhhñ{(££jpñjèmLino(îijèsLpig(nsèJgmv(k(rìi(s(ñpiumk(jr(ino(îijèmo(nr(jpñL
jès(P(r(ni(jrv(m(jr((jpñjèm(o((nr(inoîijèsP(è(rm(éh(m(nìiomu((nr(su(jlo(ip(sé(iJ(Wr(èprì(l(
w(sjvm((ñm(vi(nlîs(hp(s(piênsèr(èmìs(jl(jî(r(wsìi(o((èurîs(hih(r((mk(ñpihó(mknm(ñmvinl(hsóP(
(rhm(éh(m((nlki(jrvm(nr(ìmjnm(un(sìi(snòm(pvrgsìiP(vrîs(wpmì(òprrP(nivr(ñpsviprP(ñr(ji(
vmol(èmpsjhshs(jrvm(r(ñpul(ñmvmí{(JvihrèJgmvæ(óhhñ{££JjîrusgnihJgmv(
s(((Jèpjhrp(sg(rJgmv£pi(gns(èJ(Snm((éh(m((skurìr(ü(pjhrp(sg(l((mk((ñpihóm(knsó(piênsè(r((ìi(
vmolínmjh((ñp(ium⁄inì(r(ni(jrvm((ñmìiksnrên(só((piês(uií((s((piêins(gr(P(ñr(s(ê(shrumo(hi(èL
jhr(jr(jpñ(jèmo((nr(inoîi(jè(s(s(mwpn(lhmæ(v(i⁄lhs(vP(ñp(iu(mk(ìi(ìrèm((îmé(s(vm(ëi(kmniè(îi(
(èmpsjhs(hs(jrvm(mnsv(r(è(mìs(n(iv(rìl((ns(mj(nm(un(m((ñmnr(urnìi(i(noîijè(mo(ìisè(rJ
Sk((nr(êrìni(piòipi(nh(ni((îs(hi(prhlpi(mñéh(io((hsñr(jurèr(èm(hpiwr(ñmvinlhs(mnîrìn(
ingsèîmñiksìi{(oaÄ)]:bAG>A)]:bebCFB@H9AP(óhh(ñ{££in(gr(phrJvjn(JgmvP([)J@)cFCA::9bAP(
JwpshrnnsgrJgmvP(èmìr(kmum(îìr(ur(wij(ñîrh(nl(ñpm(wlP(r(r(nim(opr(ns(êi(ns(ñps(jhlñ(
ji( ñîr(írP( Jsèsñi(ksrJgm(vP( èmì(r( ì(i( (ui(pmurhn(m( nrìñ(mñlîrpn(sìr(P( rîs( èmk( èm(ìi(
h(rênmjh(sn(òmp(vrgsìr(h(pi(wr(lih(s(j(pi(ip(um(vP(hìJ(ñ(p(mu(ipshs(ì(iJ
^mj(hm(ìi(s(pr(î(sêshi(mnîrì(n((rnhmîmosìi(¨(ñmisì(iP(ñ(pmiP(vlsèiP(ûîvmu(r(rîsP(nrL
ërî(mj(hP((l(uiísn(s((jî(lêrìiurP(rèm(jl(k(mwpiP(pr(ks(ji(m(èmvipg(sìr(în(sv(jrìhmusvr((r((èm(ìi(
j(i(ñpsjh(lñ((ñîrírJ(
Wrè(mn(lñmnrurn(ìr(jr(musv(v(r(hi(psìrî(sv(rP(jhlki(nh(s(svrìl((rk(rhr(è((kr(mkrwipl(
(s( iu(rîlsprìl( nièm(îs(èm( piê(ns(èr( sîs( ingsèîm(ñi(ksìr( l( (iîiè(hpmnj(èm(v( (s( (l( éhrvñrn(mv(
m(wîsèl(s(k(r(só(lñm(pi(ki(J((
mOúO'X'oD'GonpJ''Eo'GAKJôoBJ'@'A'BA}GK'Fp'D}'FE'FyB'J}'@'í'DzAq'Jô'oB'J|'FnopJ'Doô'GFnJ
R(ui((ìi(uséi(skru(rêr(lk(ëw(insêè(i(îshiprhl(pi((r(lêin(ìi(inoî(ijèmo(èrm(j(hp(rnmo(
ìi(sèr(èm(ìs(l(lmwsêrìins((èmvñîih(èmìs((ês(ni(lkë(wi(nsèP(pr(kn(r(juijè(r(s(rlks(m(TX(
(nlki(s(hu(J(ñprh(ií(i(jrìhmui(¨(bF)PBA:9F:)=9>@=)P(èmì(s(ksp(ièhnm(ñ(prhi(oprksu(m((s(lkëwiL
n(sèrJ(Sum(ws(vmoî(m(wshs(upîm((rn(svîìsum(s(èmpsj(nm(P((vi⁄lhsvP(luskmv(l(nièi(m(k(
hsó(ñ(prhiísó(jr(ìhmur(ñ(ps(vi(ílìi(ji(kr(m(ns(k(r(ìl((ñm(òmp(vs(omh(mum(sjhmuihni((vrh(ipsìrîi(
èrm(s(h(pr(ksg(smnrî(nr(p(rkn(r(juijèrP(kr(jl(oprû(êès(r(îs((s(èurnhs(hr(hs(unm(js(pm(vr(én(sìsP(kr(
jl((lo(îr(unmv(kr(hr(uiëw(rnìr((¨o(prvr(hsèiP((um(èrwlîrpr((sî(s(p(r(lviurnì(r(h(ièjhr(hsñr(
u(iéij(hplèmo((s(wmpr(sîs((ñmñlnìru(rnìr(ñp(rn(snrP(pi⁄(i((uséijhplèmo(jñrì(rnìrJ((^piknmjh(
murèu(só(uiëw(rnì(r(l(mknmjl(nr(mn(r(s((prkn(i(juij(èi(ìi((éh(m(lêi(nsè(P(nrpr(un(mP(rèm(ìi(
nr(sn(hi(pn(ih(ui(sP(mkvró((kmwsìr((ñmuprh(rn(mkomum(p(kr(î(s(ìi(piêinsgl£uië(wr(nìi(lprL
§âå

§âã
U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
ksm(hrên(mJ(ôi⁄l(hsvP(pièîs(wsjvm(k(r((ìi(h(m(s(ìiksn(r(ñpikn(mj(hJ(ciî(sèr(vrnr(ìi((hm(éhm(
(jl(vrhipsìrîs((jr(vn(mosó(j(rìhmur(é(hlps((l(wi(jñîrhnmì(u(ip(sì(sP(r(r(v(nm(om(kih(rîìnsìi(
uips(ìi( ñm(hpiwnm( ìi( ñp(ihñîr(hs(hs( jiJ( õrkr(hrè( ui(r(n( r( mul(h(i(vl( èmìs( ws( jhlki(nhs(
k(mwsî(s(ìi(kr((jr(vs(mkrw(ip(l((s(iurîls(pr(ìl(ni(ès(m(k(nìsvr(kmjhlñ(ns(ó(éhrvñ(rnsó(lkë(wiL
nsèr(s(ñp(rhiís(v(rh(ipsìrî((r(hrì((lk(ëw(insèP(èmìs(ji(n(rîrs(nr(jrìhl(s(krurêrP(pi(gsvm(
lkë(wi(nsèi(èmìs(ji(èmpsjhi(l(n(résv(m(jn(mu(ns(v(s(jpikn(ìsv(é(èmîrv(rJ((
Sjsv( musó( huJ(u(i(rnsó( (vr(hi(ps(ìrîrP( (nr( (snhipni(hl( ñmjh(mì(s( s( mop(m(vnr( èmîsê(sn(r(
vr(hipsìrîr(¨hi(jhmusP(ñî(rn(mu(s(êrjmur(s(himps(ìjèr(m(wìr(énìinìrP((ñpi((ju(ior(s((oprvrhsèi(
s(îièjsè(i(èm(ìi(jh(lkinhs(sî(s(nrjhr(un(sg(s(vmol(k(r(n(r⁄l(s(m(ns(ó((èmìi(vm(ol((jrvs(kr(
ñprui£rkr(ñh(sp(rìlP( è(mp(sjhií(s( (lmwsêrìi(ni( jmò(hui(pj(èi( rî(rhiJ( Yum( nièmîsèm( jrìhmur(
èmìsvr(ji(vmëi(ñpsjhlñshs(mnîrìn{(JirvinoîsjóJgmvP(JinoîsjóLmnîsniJ
mpoJlè(s((J¿(mLìmiJgm(JlèJ((Rîik(iís(jr(ì(hm(us(nlki(kmwpi(vrhipsìrîi(èmìs(ji(vmol(
wijñîrhnm( ñpilihs{( óhhñ{££ijîJrwmlhJgmv£mk£inoîsjóîijjmnñîrnj£Ynoîsjó Zijjmn
^îrnj òmp YRZ YbZ TîrjjijJóhvP( ( JijîgròiJgmvP( ( JmpîkLinoîsjóJmpoP(
JijîomîkJgmvP(óhhñ{££inoîsjóLîijjmnLñîrnJgmvP(JpmnoLgórnoJgmv(s((J
ljsno(inoîs(jóJgmvJ(
Sjsv(ñsjrnsó(vrhip(sì(rî(rP(nr(snhip(nihl(j(i((vmol(n(rís(s(vnmos((rl(ks(m(s(u(ski(m((vrhipsìrîs(
r(lêinìi(ìisèrJ(ôi⁄l(rlksm(îsnèmusvr(skurìrìl(ji{(JwwgJgmJlè£mpîkjipusgi£
îirpnsnoinoîsjó(s(JijîLîrwJgmvJ(Wi(hpi(wr(r(wm(pr(us(hs(ns(jrìh(†mlVl(wiP(èm(ìs(ji(vmL
ëi(sj(èm(ps(jhs(hs(r(ui(ëwr(nìi(pr(l(vi(ur(nìr(om(um(pr(s(skin(hs(û(èm(ur(nìi(s(sj(ñpr(uîìr(nìi(opiL
ér(èr(s(hm(èpm(Póur(hr(nìif(hiè(jhr(ñi(jvi(ñps(jîl(ér(nìlP(r(hsv(lñm(pi(⁄s(ur(nìi(jr(èr(pr(m(èi(
uip(s(ìmv(sjhi(ñi(jviP(kr(èîiP(wi(us(kim(jñm(hrP(hr(èm(kr(ìi(jr(vm(hièjh(ñi(jvi(nr(ièprL
nlJ(^m(éhm(s(l(hsv(hiè(jhm(us(vr(êi(jhm(svr(opi(ér(èrP(ñpi(jui(or(opr(vr(hsê(èsó(rîs(s(mnsó(
l(jñi(îsn(olP(èpm(ñm(èl(érì(kr(só(iîs(vs(ns(élP(jhl(kin(hs(ws(pr(us(ìr(îs(s(jum(ìl(jñm(jmw(nmjh(
kr(lmêi(s(sj(ñpr(ui(opi(éèi(l(in(oîi(jèmv(hiè(jhlJ(^m(jîik(nìs(èm(prè(l(mumv(ui(ëwr(nìl(
wsm(ws(èmn(jlî(hm(ur(nìi(ni(èmo(mk(èur(îs(hih(ns(ìsó(jrì(hm(ur(jñi(gs(ìr(îs(m(ur(nsó(r(hiè(jhm(ui(
ñm(ñl(îrp(nsó(ñi(jr(vrP(oki(ws(ji(ñpm(ui(ps(îm(l(èm(ìmì(vi(ps(ji(Pjhl(kinh(jèrf(uip(s(ìr(hiè(jhr(
ñi(jvi(ñm(èîr(ñr(jr(mps(os(nr(îmvJ
apmì(us(kim(vr(hi(ps(ìr(îr(km(jhlñ(nsó(ñpi(èm(sn(hip(ni(hr(ji(jur(èm(kniu(nm(ñm(ui(ír(urJ(õr(
mni(èm(ìs(vr(îm(wm(îìi(ñm(nr(ìl(in(oîi(jès(ìi(sèP(ws(íi(up(îm(r(ns(vîìs(us(s(èm(ps(jns(ôrgL
vsî(îr(nm(us(ui(ws(nr(ps(¨g@)f9):AG=(L((Jvrgv(sîîrni(no(îs(j(óJgmv((èmì(s(skl(lë(sumP(hprì(l(
(çM(vsnl(hr(s(hmèmv(èmìsó(ñmjihs(mgs(j(rì(hr(vmol(ñ(mjhruîìrhs(ñsh(rnìr(ñpikrurêlP(hrèm(
éhm(í(i(j(umìr((ñs(hr(nìr(lèlg(rh(s(l(huJ(bJA)>f)Fñ(nr(k(nl(i(èprnrJ(^(m((rup(éihèl(s(îrornì(rP(
(ñpikru(rê( íi( Kå( vs(nl(hr( mkomu(mp(rhs( nr( j(rèlñî(ìi(nr( ñshrnìrJ( WrprunmP( vmol(íi( ìi(
o(îikrh(s((s(jîl(érh(s(s((jhrpi(u(iwsnrpiP((j((hsv(éhm(l(hmv(j(îlêrìl(ns(ìi(vmol(íi(ñmjhruîìrhs(
ñsh(rnìrJ((
Sk(îsêrn(j(rìh((r(lêinì(i((in(oî(ijèmo((ìisèr((svr((s((aa(T(èmìsP(l(ñ(piopéh(p(rnmupjnmo(
vrhipsìrîrP(nlks(s(uskim(èîsñmuiP(nr(jîikiímì(rkpijs{(óhh(ñ{(££wwgrghsuiinoîsjóJgmv£
wwgLmpîkLnijLinoîsjó uskimJóhvîJ(^piñmplêsîs(wsjvm(s(aaTìiu)[@AbJ@G(nr((J

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
wwg(JgmJlè£(mp(îkjipus(gi(£î(irpnsn(oi(no(îsjó£(îrnolro(i£hói(hir(gó(ip(P( êsì(s( u(pîm( nimw(s(êrnP(
rwru(rn(us(li(îns(ñpsj(hlñ(nrj(hru(sP(mvmo(líru(r(lêin(sg(sv(r((wpm(s(îr(èm(j(ruîrkru(rn(ìi(
in(oîi(jèsó(sksmvr(è(pm(v(sns((îiègsì(iJ(
mOO''aK'FyBAE''DABA}qJôA''poDGonpJt'E'oGAKJôoB'o''@''ABA}GK'Fp'D}FE'F'yBJ}@
Wr(pru(nmP( l( mumv( vmpl( n(rj(hru(nsó( vrhi(ps(ìrîr( (ñp(mw(îiv( ìi( èrè(m( ji( l( (nì(iv(l(
ni( s(olw(shsP( mk(nmjnm( (èr(èm( ñpiñmn(rhs( mn(m( é(hm( ìi( èurî(sh(ihn(m( s( n(rì(us(éi( mko(murp(r(
(èmnèpihnsv(róhiu(svr(l(n(rjhrusJ((^(pur(ñpiñm(pl(èr(r(nr(éi(jhl(ki(nh(i(s(r((piî(rh(su(nm(
nisj(èl(jn(i((nr(jhrunsèi(ì(ijhi(k(r((ji(ñp(ui(nj(hu(inm(mjîr(nìr(ìl(nr((jr(ìhmui((ñmnrhs(ó(sL
krurêrP(ln(suip(shi(hr(s((mp(o(rn(srgsì(rJ(
^(psîsèmv( s(wm(pr( vr(hipsìrîrP( r( (ñm(jiw(nm( lèmî(sè(m( jhlkinh(£n(rjhrunsè( svr( (nièl(
ìi(sêèl(nik(mlvsgl(P(vmëi(kmj(hr(kr(ñ(mv(mo(ni(niès(mk(èmnjlîhrhs(un(só(jrìh(murP((nr(
(èmìs(vr(ji(v(mol(nrís((ni(jr(vm(l(oî(runmv((km(wps(nrj(hruns(vrhips(ìrîsP((uií(ji(n(r(h(uJ(
òm(pl(vs(vr((vm(ol(ñmj(hr(uîìrhs(ñs(hrnìr(nr(èmìi(mkomurprìlP(svi⁄l(mjhrîsóP(s(jhplêni(
mjmwiJ(cipmurhnm(nrìñmñlîrpnsìs(jrìhmus(hmo(hsñr(jl(óhhñ{££ijîJrwmlhJgmv(s(J(
ijîgròiJ(gm(vJ(U(nr(v(nm(osv(kplosv(òm(plvsv(r(vmol(j(i((kmwshs(èurîshi(hn(s(mkom(umpsP(
rî(s(ìi(v(rîm(hiëi(ñpmg(in(sh(s(kr((îs(ìi(mko(mu(mp((kr(îr(jhpl(ên(r(mjmwr(sîs(niJ(Wrumksvm(
nièi( mk( nrìñmnrhsìsó( jrìhmur{( JmlñJgmv£iîh£hirgóipjgîlwP( JrnjipjJ
gmvP(JinoîsjóòmplvjJgmvP(JiîhòmplvJgmvP(JijîhirgóipjwmrpkJgmvP(
óhhñ{££òmplvjJîmnovrnJgmvP( JinoîsjógîlwJgmv£ijîLòmplvjP( JinoîsjóL
hijhJnih£òmplv(s((óhhñ{££òmplvJ(mp(kp(iòipingiJ(gmv(J
^mjhm(ìs(s(usé(i(kmwpsó((jhplênsó(YRZ£Y(ZV(ê(rj(mñsjr((l(iîi(èh(pmn(jèmv(mwî(sèlP((èmìi(
(r(jumìi(jhplê(nm((ljrup(ér(urnìi(v(mo(l(èmp(sjh(shs(ni(jr(vm(nrjhrun(sgsP(uií(s((jhlkinh(s(
(r(upénsó( om(ksn(r( rnoîsjhsèiJ( Wr(ërîmjh(P( (vrîs( wpmì( (murèusó( êrjmñ(sjr( ìi( w(ij(ñ(îrhrn(
¨[J@) ]C@b>GF:9b) äF)[]a8)äF

U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
L( èm(ìi(rlhmp£rlh(mp(s(vrhi(psìr(îr(s(èm(vinhrpr(n(r((jr(ì(hl((¨kr(î(s(jl((hm(s(jèljns(n(rjhrunsL
gs(èm(ìs(ji((ñpm(òij(smnrînm(wrui(m(kpi⁄in(mv(m(wîréíl(ñ(ps(vi(nìini((îs(no(usjhsèiP(nñpJ(
prum(ìiv(nrjh(ru(nm(o(vrhip(sìrîrP(v(ih(mk(sèmvP(s((jî(JP(sîs(r(nm(ns(vns(ñmjihs(mgs((jrìhrJ(
^(mpi(⁄inìi( éhrvñr(nsó( vrhipsìr(îr( jr( iîièhpmn(jès(v( ni(jlvnì(su(m( ski(l(ñ(psîmo(
(musv(kpl(o(sv(rP(ì(ip(ñpikjhru(îìrìl((omh(mu(m((nisjg(pñrn(s(um(p(s(nilñmpiksum((só(ìi((wpëi(
ñpihprës(urhs((niom(é(hrvñrniP(r(îs(luiè(h(piwr(svr(hs(nr((lvl(lîmol(n(rjhru(nsè(r((èrm(
mnmor(è(m(hpiwr(k(r((w(lk(i(mwlêin(kr(s(up(és(jiîiègsìlJ
mO±O')A'DGJ'Ko'pôA'J'Ano'B@'o'qJ'ôo'@|'zF'EFÀ'Ko'ö@'po'Ko'
U(rè(m(j(l(hijhs(pr(nìi(s(iu(rî(lrgsìr(l(ñ(mvm(í(prêln(rp(r((ñmñlîrpnsP(nìsó(mu(i((vmolíL
nmj(hs(jl(piîrhs(unm(moprn(sê(iniJ(Sj(sv(uií(ñmvinl(hi(v(mo(línmjh(s(kr(j(hlkinhs(£lêi(nsgs(
l(hmèl(lêi(nìr(ñp(mu(ip(rurìl(jum(ìi((nrnìi(èm(nèp(ihn(só(hi(vr(¨l(oîrunmv(u(mè(rwlîrp(s(
oprv(rhsèr(P(l(uië(wrnìsvr(p(iîrhsunm(moprnsêin(mo(hsñ(rP(uséi(ñrë(nìi(íivm((mw(prhshs(
n(r(n(ièi(mk(juihjè(s(ñmn(rh(só(s(ñpsnr(hs(ó((sjñsh(r((s(i(no(îijèm(o(èrm(jh(prn(mo(ìi(sèrJ((Wr(
jrìhmu(svr(mpornsrgsìr(èmìi(hi(hijhmui(ñpruiP(nñpJ(nr(jrìhl(((J(grvwp(skoiijmîJ
mpo( ( vmëi( ji( l( ñkò( òmpvr(hl( wijñîrhnm( ñp(ilihs( vrnìs( wpmì( lm(pr(èr( hijhmu(r( r(
jui(nsumi(8(r(Y@e)]:;)C9)=J)[)@=>)mY][)nl)OG@C9P9:AGe)]):;)C9)=J)[@=>)mO][n)l)v9G=)>)
c@G>9{bA>@)9:)]):;)C9)=J)mvc]nl)c)@G)>9{bA>@)9):)THQA:b@H)]:;C)9=)J)mcT]n)l)c@G>9{)bA)>@)
F)i)OGF{b9@:be)9:)]:;C9=J)mcO]n)l)U))9{bA>)@=)mU]cP(s(hkJ
Wr( jrìhl( rvipsêèi( roingsìi( Yklgrhsmnrî( Vijhsno( RipusgiP( JihjJmpoP( ês(ìs(
jl(nrì(ñm(ñl(îrp(ns(ìs(s(nrì(vr(jmu(ns(ìs(sj(ñs(hs(VS(YbZP(VS(Y(UT(s(RQVP(wij(ñîr(hrn(ñps(jhlñ(
ui(ís(ns(ki(îm(ur(hi(jhr(r(mn(îrìn(s(pr(kl(svr(ìl(jr(vm(èrn(ks(kr(hs(èm(ìs(jl(ji(ñps(ìr(us(îs(s(
lñîr(hs(îs(r(ñm(îr(or(nìi(ni(èmo(mk(musó(sj(ñs(hrJ(Wr(jrì(hl((J(ir(vi(noîsjó(Jgm(v(vm(ëi(
ji(lprk(shs(uséi(l(m(prèr(jusó(nrìñ(mn(rhsìs(ó((hijhmur£s(jñshr(s(inoîi(jèm(o(ìi(sèrJ(Rus(
m(us(h(ij(hmus(èmpsjns((jl(èrèm(r(jrvi(jhlki(nh(i(hrè(m(s(r(nrjhrun(sèi(ìip(sv((ñp(lë(rìl(
vmolínm(jh((kr(ljr(upéi(ìis(èP(kr(j(i((lñ(mnrìl((jr(jrkpë(rìi(v(musó(hi(jh(murP((èr(èm(ws(
jumìsv(l(êi(nsgs(vr(mîr(èérîs(ñpsñ(pivl(r(nì(sómum(ñmîrornì(i((sî(sP(ìik(nmjhr(un(mP(èrèm(
ws(l((nièmv(h(pin(lhèl(v(moî(s(kr(sjè(mp(sjh(i((nièi((kiî(mui(musó((hi(jhmur(l(n(rjhrus(J
§âä
mOO'1pGAK'pA'G'J'JpGAx'KJ'Do'pA'nAõG'JpA'
\( ñ(pmh(ièîs(ó( kijihrè( om(ksn(r( èmpséí(in(ìi( (prêlnr(pr( (l( (nrjhrus( ñp(uinjhuin(m( ji(
(èmn(ginhp(sé(i( nr( (èm(ps(éí(inìi( sn(hip(n(ihr( l( nrjhru(sP( (m( êivl( ñ(mjhmìs( wmor(hr( îshiprhlpr(
(¨©rpjórlip( KIIåP( ©rpjórl(ip(P( Róihîip( rnk( ôiî(mn(s( HMM(MP( (©r(pjórli(p( rnk( (üipn(
(HM(MMP(Xl(kin(iï(HMMMJ(ür(m(om(hmum(ni(ñpijlén(s(s(u(mp(snòmpvrgsì(rP(snhi(pni(h((ìi(ìiL
ksnjhuinm(j(pikjh(um(snòm(pvsjr(nì(rJ((Vr(nìio(mur(èrpr(èh(ipsjhsèr(j(i(nr(us(éi(nr(êsnr(v(mëL
i((èm(psjhshs(l(n(rj(hrus(ì(is(èrJ(ü(rm(sump(èurîshi(hnmo((vr(hip(sìrîr(r(pr(us(ìrnìi((uié(hsni(
êsh(rnìr(l(ui(è(ji(vmol(èmpsjhshs(mn(ìr(în(skrnìr(ñmnrhsó(kniunsó(nmusnrP(èrm(éhm(jl{(

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
[J@) jP( JsnkiñinkinhJgmJlèP( [J@)
_A=J9:;>F:) OF=>P( JrjósnohmnñmjhJgmv( s( Ä@g) wFGR) [9P@=( Jnïhsvi(jJ
gmvJ((S(nrìn(musìsv(kmor⁄rì(sv(r(l(juihlP((èr(m((s(m(v(nm(éhul(kplos(ó(hivrP(vmëi(ji(
êshrhs(s(nr(j(rìh(musvr(uiî(sès(ó(V(c(vpië(rP((èrm(éh(m((jl(aaT(s(T(WW(J((
Unhip(nih( ìi( n(ij(lvnìsum( ñpsì(ivê(su( viksìlv( r( pru(sì(rnìi( (uié(hs(ni( êsh(rn(ìr(P( ìip(
jh(lki(nh(s(uií(ñpspmknm(ês(hrìl(pr(n(mupjni(jrkpë(rìi(j(r(sn(hi(pnihrP(s(hm(nr(in(oî(ijèmv(
ì(isèlP( ñ(r( ji( v(mëi( r(èîìlê(shs(k(r( ìi( mn( (r( k(rn(rénìl( kigl(s( vîrki( î(ìlki( v(nm(om(
ñmomkn(sì(s((s(ñpsu(îrê(nsìs((mk(éhrvñrnsó(ènìso(rP(nm(us(nr(sîs(êr(jm(ñsjrJ
(ci(é(hsnr( ñ(sjrnìr(j(i( ni( jvi((rñ(mjhru(shs( nr( nrìu(sésv( n(sum(sv(r( lêinìr( ìisè(rJ( \(
(rkrgsvr(èmì(s(ws((ji((kr(îs(jhlk(in(hsvr(nr((mu(mv(èlpjlP(ñ(sjrnìi(w(s(w(sîm(n(iprjè(sksum(uiL
rnm(r((êsh(rn(ìi(J(Wr((ñp(sv(ip(P(jhlkin(hs(vm(ol(jrvs(kr(km⁄l(km((snò(mp(vrgsì(r£(vr(hipsìr(îr(
nr(n(iè(l(hivlP(ñps(êsìmì(ws(ji(îi(ègsìs(sjñshrîs(wshni(ñrprvihpi(8(kr(îs(ìi(s(ump(ñml(kr(nP(
èm(ìi(r(lhm(p(h(ièjhr((¨k(r((îs(ìi(hm(nñpJ(ñ(mnrhs(n(mus(nrp(jr(w(i(jñpiè(mpnmv(pi(ñl(hrgsìm(v(sîs(ji(
pr(ks(m(rnm(nsvnmv(êshrmgl(èmìs(ìi(nrñsj(rm(ñsjvm(n(ñpJ(nièmv(k(niunmv(î(sjhlP((èmvi(
ìi(h(ièjh(nr(vinìinP(èrèu(sv(ìi(jhsîmv((nr(ñsj(rnP(èr(èusv(ìis(èmv(¨muki(w(s(j(i(prvrL
hpr(îs(s(op(rvrhs(êè(r(hrênm(jh(s(mñjioP(hìJ(wmorh(jhum((ìisê(ès(ó((èmnjhpl(èg(sì(rJ(õ(rhsv(wsP(nr(
mjnmul(ju(ior(o(mpi(nru(ik(inmoP(nr(ñsjrîs(s(uiéhrì(l(è(mv(i(ws(ñ(pikjhr(usîs(ñp(ikn(mjhs((s(
vrn(i(mkrwprn(mo(vrh(ip(sìrîrJ((^m(pik(hm(orP(jhl(ki(nhs(vmol(jr(vs(kr(ñprui((wîmomu(i(s(
u(sèsìi(¨(g9R9=(ui(rn(i(r(nr(jh(rul(sî(s((r((nièi(kp(loi(hivi(J
(eiknr(mk(ñ(pi(kn(mj(hs(lu(m⁄inìr(snhipnih(r(l(n(rjhru(l((ìi(sè(r(r(èmvlnsèr(gs(ìl(ìij(hi(
k(r(ws(ji((hs(vi(jrv(m((sjèmpsj(hs(îm(mnm(éhm(u(iísnr(j(hlkinrhr((s((nìsó(musó(w(lk(lísó(lêi(nsè(r(
uií(lu(iîsèm(è(mps(jhs(l(j(ur(èm(kniun(mv(ësumhl(J(\(nrjhrus(ws(wsîs(è(mp(sé(íi(ns(lmwsêrìi(ns(
(nr(êsns(rjsnópmni((s(jsnópmni(èmvl(nsèr(gsìi(ñp(iè(m((snhipnihr(P(¨(@rPA9Cl)i)FG)P(
k(p(léhuin(m(lvp(iërurn(ìi((l(rèr(kivjèm(v(mèplëin(ìl(¨ks(jè(lj(smni(opl(ñi((èmìi(jhlkinhs(
jr(vs(ñpruiP((oeaBAb@)l))vAb@f)FF)R((nr(i(noîijèmvP(èr(m(s(rîrhs(r(lj(vinl(s((ñs(jrnl(
(èmvln(sèr(gs(ìl(¨aReB@l)jFF;C@)>AC)RP((èm(ìs(mhur(pr(ìl((nmui(vm(olínmjh(s((r(l(êinìiJ(Wr(
ñpsvipP((nièrkr(ñmñ(lî(rpnr(r(rh(sv(ñp(iurs⁄(inr(s(kiìr(m((B@):))iG)9@:H=P(l(mwnmuîìinmv(
u(sk(l((ñlhiv(jrupivinsó(hión(mîmosìr(ws(vmoîr(kr(j(i((mp(or(ns(lìi(èr(m((PRèïñi(ñin(
òpsin(kjfP(oki(ji(v(mëi(èmvlnsgsprhs(s((ñsjrns(v(s(l(jv(insv(ñlhiv(sj(hmupiv(inmP(s(
hm( s( jr( (su(mp(nsv( om(umpnsgsvrJ( Sum( (ìi( kmwr(p( (nr(ês(n( s( kr( ji(j(hlk(in(hsvr( lèrëi( s(
nr( nièi( m(wîsèi( èmvlnsèrhsuni( èmv(ñihin(gsìi( è(rm( s( k(r( (sv(j(i( (jèpini( ñrën(ìr( (nr(
hm(kr(l(w(sî(m(èmìm(ì((up(j(hs((èmvlns(èr(gsìi(ñpi(èm(sn(hi(pnihrP((èrm(wlklís(ñ(pmòijs(mn(rî(gs(P(
vmprìl(k(r((umki(p(rêl(nr(m(ñmjiwn(mv(wm(nhmnl(¨:)@>9)?>@)P(m(jhi(ñi(nl(òm(pvrîn(mj(hs(s(
oprvrhsêèi(s(îièjsêè(i(h(rên(mjhs(ìisè(r(èmìs(è(mpsjhi(J((
Wr(Xiñrp(hvr(nl(r(r(noî(sjhsèl(jv(m((ñ(pméîi((éèmîjèi((om(ks(ni(uií((sj(ñpmwrîs(snhipni(h(
k(sjèlj(smni( oplñ(i( (r( mkpi⁄(in(i( ñ(pikvih(i ã P( o(ki( (jl( j(hlkin(hs( vmoîs( kr( (kmwsìl(
s(prvin(ìlì(l(vnmoi(snòmpvrgsìi(uirni((r((ñpikvihP(s(h(m(nr(i(no(îijèmvP((r((wpm(ì(
ã( ( Wr(ñpikvihsvr(Rivrnhsèr(s(\umk(l(îsnousjhsèl(èmìi(umki(nrjhrunsgs(´J(cskrnmusí(s(ôJ(Qnhmusí(
s(rjsjhinh(XJ(RhrvinèmusíJ
§âI

U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
mk(jèm(pm(åMM((ñmp(lèr(ñm((ñp(ikvih(l(l(èr(l(ìi(nr(ñm(ñl(îr(pn(mj(h(murèumo(km(ñlnjèm(o(
(nrêsnr( (sn(òmpvs(jrn(ìr( (s( èmvl(nsèrgsìiJ( Su(i( (éè(mîjèi( o(mk(sni( mhurprvm( (ks(jèljsm(ni(
opl(ñi(r(ìmé((nièmîs(èm(ñ(pikvihr(P(r(nr(ñpikvih(l(\êin(ìi(ìisèr(l(ñmvmí(prêlnrpr(P(
jhlkin(hs((íi(hm((jr(vs(lprks(hsP(l(mèusp(l(ì(iknmo(mk(ñp(usó(ñprèhsên(só(r(krhrèr(J
mOO''Xo'DGono'p'o'H'oBôJp@'
(emé(ìi(kn(r(mwîrjh((èmp(séíinì(r(p(rêlnrpr((l(nrjhr(us(jr(èmìmv(ëi(îsvm(kr(l(ñm(nrvm(
jhl(kinhi(n(r(nréiv(èlpj(l((ìijhi((s(lêinì(i(n(r(krîìs(nlJ(U(jrvr(ñmv(sjrm(k(r((ìi(v(molL
íi(lês(hs(s((nr(lêshs(jhp(rns((ìisè(k(m(n(sumr(èmv(lnsè(rh(suni(èmv(ñih(in(gsìi(w(i(k(sp(iè(hL
nmo(è(mn(hrè(hr(jr(nrj(hr(unsèmv(s((vmolí(nm(jh(s(èmvl(ns(gsprnìr(kmn(ik(runm(ws((ul(êr(îr(
(ñpsîsê(nm((ni(pir(înmJ(ôi(⁄lh(svP(jr(prum(ìiv(vlîhs(vi(ksìrîn(só(snhi(pr(èhsunsó(ñ(pmo(prL
vr(P((wpsv(sn(hipnih(ui(rvrP(îrèsv((jnsvrn(ìi(v(s(pi(ñpm(kl(èmu(rnìiv(ulèrP(mk((jèmpr(
ê(rè(s((us(kim(rñsjrP(v(mo(línmjhs(vr(r(rlksm(s(u(skim(èmn(òi(pi(ngsìiP((èr(m((s((pr(umìiv(
jñ(ig(sìrînmo(j(mò(hu(ipr(r(ñr(èmur(nìiP(s(jñ(mp(lê(surnìi(s(ñ(pr(íi(nìi(vlîh(sv(ik(sì(rî(nmo(nrjL
hrunmo(v(rhipsìrî(r(s(vlîhsvi(k(sìr(înl(èmvlns(èrg(sìlP((lêi(nìi(ì(isèr(n(r((krîì(snlP(s((hiL
mps(ìj(ès(s(ñp(rèh(sênm(ñ(mjhrìi(jrj(usv(sumk(î(ìsumJ(W(rì(ñmnrh(sìs(jmòh(ui(pjès(ñrè(ih(mui(
u(pjhi(ìi(ô(SSX(ZY(¨ômkl(îrp(S(wìi(gh(LS(psinhik(X(ïnrvsg(Zirpnsno(YnuspmnvinhP(
uséi( snòmpvrgsìr( nr( jrìhl( óhhñ{££vmmkîiJmpo( 8( jmò(uip(jès( js(jhiv( r( lñpr(uîìr(nìi(
nr(jhr(umv(èm(ìs(nl(ks(ui(îs(èi(vm(olí(nm(jhs(r(ñm(kp(éèl(èîr(jsê(nmì(nr(jhr(usP(r(km(krh(ni(
vlî(hs(vi(ks(ìrî(ni( rè(hsu(nm(jhsP( rîs( ji( vm(ëi( èm(ps(jhs(hs( s( èrm( jr(vm(jhrî(nr( ñîrh(òmp(vr( r(
lêi(nìi(nr(kr(îìs(nlJ(\(jui(hl(ìi(murì(nr(êsn(lêi(nìr(uií(pr(pr(⁄inP(rîs(èr(èm(ró(hi(ur(
ñps(îsê(nr(órp(kuip(jèr(lîr(or(nìrP(l(nr(émì(i(vîìs(jl(ìmé(luiè(pih(èi(sn(jhs(hl(gs(ìi(èm(ìi(ji(
hs(vi(wr(uiJ â
Wr(éi(jhl(kin(hi(lñm(r(ìi(vm(jr(vm(jr(mjnmu(nsv(iîi(vin(hs(vr(mui(vm(olí(nm(jhs(èmL
ps(éíi(nìr(pr(êl(nr(pr(l(nr(jhr(usP(l(nr(ñm(vi(nl(kr(hm(ñpik(jhr(uîìr(r(ns(vîìs(um(vm(ol(íi(
ñm(îìi(kr(îìio(ljr(up(ér(ur(nìrP(ìip(jl(ji(ni(jr(vm(l(snm(jhprn(jhul(uií(mk(jèm(pr(s(l(nr(émì(
i(vîìs(ñm(ìr(us(îs(vr(jhip(ñpm(opr(vs(èm(ìs(éèm(îl(ìl(wl(kl(íi(jhplê(nìr(èi(r(nr(jhr(ul(nr(kr(îìsL
nl(¨Vió(nsê(ès(òr(èlî(hih(l(rê(èl{(ó(hhñ{£(£iLîr(wJhògJ(èo(Jr(gJpj£(snk(iJñóñ(¬ñÕ(rè(hs(unmjhs(J
â( ( Wrìnmusìr( kmjhsonlír( jl( ñpikjhruîìinr( nr( nrlênmv( jèlñl( ]rC@AG:9:;) 9:) UACRA:) TbAH@P9b)
`:=>9>9F:=Ç) UAGG9@G=l) cJACC@:;@=) A:H) ZBBFG>9@=P( jiñhivwrp( HMMIP( Wséèr( arnìrJ( ôi⁄l(
snjhshlgsìrvr( èmk( nrjP( sjhrèîs( wsjvm( brèlîhih( snòmpvrgsmnsó( hiónmîmosìr( s( aimoprkrP( èmìs(
nlks(èmvñîihnl(nrjhrul(s(ñpièm(snhipnihrP(j(ñîrhòmpvmv(Sprgîi(sLîirpnsnoJ(Wrjhrur(inoîijèmo(
ìisèr(¨ñih(prîsêshsó(èlpjiur(nr(hmv(òrèlîhihlP(mjsv(èîrjsênmo(nrêsnrP(hrèm⁄i(ji(vmëi(ñprhshs(
vlîhsviksìrînm( nr( krîìsnl( s( rjrkr( ñpikjhruîìr( óswpsk( svi⁄l( iîivinrhr( èîrjsêni( nrjhrui( s(
èmpséíinìr( jmòhuipjèi( ñîrhòmpvi( r( sjñmplêsurnìi( vrhipsìrîrP( ñpríinìi( s( ñpmuiprurnìi( prkr(
jhlkinrhrP(s(rjsnópmnl(s(jsnópmnl(èmvlnsèrgsìlP(r(kmnièîi(s(rlksm(s(usliînl(¨kihrîìnsìi(uskihs(l(
VprìrnmusíP(Xmvrih(s(ôsésí(Uîsí(HMMâP((ôsésí(Uîsí(s(Vprìrnmusí(HMMäP(ôsésí(Uîsí(HMMâP(Vprìrnmusí(
s(ôsésí(Uîsí(HMMIJ
§äM

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
uO''§*'{,'û4¢*{'
\((rè(îìlêè(l((wsjvm(ñm(nm(usîs(ñm(êi(hnl(èmn(jh(rhrgs(ìl(kr(jl((prêlnr(ps((ni(jl(vnìsum(
k(mui(îs(k(m(uiîsèsó(ñpmv(inr(l((nrê(sn(l(ësumhr(s((prk(rP(snòmp(vsjrnì(r((s(èmv(ln(èrgsìi(s(
kr(ìi(nì(sóm(u(ñmhingsìrî(s(r(nr(jhr(ul(s(lêi(nì(i(ìis(èr(uiî(sè(sJ(õwmo((hmor(j(vr(hp(rvm(
kr( ì(i( lum(⁄in(ìi( swmpnmo( ñp(ikvi(hr( \êinìi( ìisèr( l( ñm(vmí( prêln(rp(r( (ni( jrv(m(
k(mwpmkméîm(uií(s(ñm(hp(iw(n(mJ((R(ìikn(i((jhprniP(h(svi(ji((mvmo(lírur((jhl(kinhsvr((kr((jr(
ñlnm(jrvmñmlkr(nìr(èm(ps(jhi((mopmvni(i(îi(èhpmnjèi((pi(jl(pj(i(s(hiónsêèr(jpikj(hu(r((r(
jumìi(ñ(ipvrnin(hn(m(mwprmur(nì(i(s(l(jr(up(érurn(ìiP(r(j((kpl(oiP(kmñ(ln(ìlìl((ji(nr(nìr(
j(hiêinr(nr(ñpik(vih(l((ôihmksèr(n(r(jhr(ui(inoîij(èmo(ì(isèr(n(mu(sv((uié(hsnrvr(P((èmìi(íi(
ñm(jh(rì(rh(s(jui(nimñómkn(sì(i(l(j(ru(piv(inmv(ñ(pm(òijsmnr(înmv(ë(su(mhlJ((\((hiónmîmosìl(
è(mìr(j(i(pr(usìr(up(hmoîr(umv(w(p(snmvP(nrjhrun(sgsvr((in(oîijè(mo(ìi(shiè(rè(m((ñmhpi(wn(m(
kr((wlkl(snòmpvs(jr(ns(P(ìip(jl(nré(s(lêin(sg(s((vmëkr((uií(nièmîsè(m(è(mprèr(s(jñpik((nrjJ
õru(pé(sî(s((wsjvm(ì(ik(nmv(piêin(sg(mv(èmìr(u(ií((ñpikjhru(îì(r((mñ(éhi(v(ijhm((l((îs(hiprhlps((m(
(èmpséíinìl(prê(ln(rpr(l(nrjh(ru(s{(Phió(nm(îm(os(ìr(ni(íi((rvinshs(n(rjhrunsèiP((rî(s(nrjhru(nsgs(
(èmìs(èmps(jh(i(hiónmîmosìl((rvinsíi(m(ni(è(mì(s(ìi(ni(èmpsj(hif(J(Wivr(v(ijh(r(r(wm(ìrrnP(
(rîs(sv(r((vijhr(r(vmhsu(rg(sì(l(s((rhm(jvr(hpr(vm(kr(sw(mp(nsv(è(lpj(iv(\êinìi(ìi(sè(r(l((
ñmvmí(p(rê(ln(rpr(nré(sv((jhlkinhsvr(mhur(prvm(vm(ol(ín(mj(hs(kr(m(è(mpsé(íinìl(hió(n(mî(mosìi(
l(nrjhr(us(s(l(j(umv(îsên(mv(l(jr(upérurn(ìl(prvséîìrìl(nr(èp(irhs(urn(r(îs((s(èpshs(êrn(n(rês(nJ(
,1)-3'*)4'3*'
a(injmnP(ôJ(¨KIIä(J(a>A:HAGH:9)@:;C@)=RFr)=GB=RF)JGQ)A>=R9)9)=GB=RFJ)GQA>=RFr@:;C@=R9)G)@X:9RJ(
Wi(((†mpè{(Tr(vwp(skoi(\n(suip(jshï(^p(ij(jJ(
aîrèiP((`J((¨HMMäJ(UGAQ@)Ä@g)^9;9>AC)cCA==GFFPJ(©rjósnohmn{([(imp(oihmn((\ns(uipjshï(
^(p(ijjJ
(al(jóP(ôJ(rn(k(Vi(pï(P(`J(ikjJ((¨K(I(IãJ([@)bJ:)FCF;e))]:JA:b@H))8A:);9F:=)9:)=@b)F:)H)CA:;@AbJ9:;)l)>)@=>9:;)A:H)G@=@AGbJJ(Trvwpsko(i{((Trvwp(sk(oi(\nsuipjsh(ï(^(pijjJ
Tó(rñiî(îiP(TJ(QJ(¨H(MMç(J(]:;C9=)J)8)A:;J) c)T88J( mOGAb>9bAC) T)BBGFAbJ@=) >F) cT88nJ(
Zmnkmn{(^(irpjmn£Z(mnovrnJ(((
X(r(usjP(QJ( rn(k( TJ( Yîki(pJ( ikjJP( (¨H(MM§J( [J@) tA:HfFFR) Fi) )TBB)C9@H) 89:;9b)=J( (Zmnkmn{(
aîrgèiîîJ
Xlk(iniï(P([J(¨(HM(MMJ([J@)`:>@G:@>)A:H)>J@)8A:;F)[@AbJ)]:;C9)=J)g9>J)[@bJ:FCF;eJ(Zmnkmn{(
^ir(pj(mn£(ZmnovrnJ
§äK

U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
(Yo(wiphP(eJ(Q(nk(YJ(drnjmnL(Rv(shóP(i(kj(J(¨HMMâJ(cT88)]):Q9)GF:P@:>=)Ç)h@=@A)GbJl)OGAb>9b@l)
A:H)cG9>9)bAC)`)==9AC=Ç) OG9:b9BC@=) A:H) OGAb>)9b@) 9:) cT88) cCA==GFFP)=J(
Qîirnk(psr{(V(YRSZJ
YowiphP( (eJ( Qnk( ZJ(ô(J( ^ihpsiP( ¨HM(Må((J( cT88) h@=@AGbJ) O@)G=B@b>9Q)@=) )]a8) A:)H) )TBBC9)@H)
8)9:;9)b=)OGFi@==9)F:)A)C)UFFR=J(Wi(ei(pjiï{(Zrpi(ng(i(Ypîwr(lv((Qjjmg(sr(hijJ
Ypwi(nP(rnk(R(rp(siurP(¨H(MM(ä(J(cT)88)9:;)ACC)iFG@9;:))CA:);@AbJ@G=l)cFPB@G)T)==9=>@H)
8)A:;)J@)bCA)==)GFFPJ(Wi(((†(mpè{((Yï(iLmnLYklgrhsmn(J
([plwrP( ^(J( ¨HMM§J(¥(T(mvñlhip(Q(jjsjhik( Zrnolroi( (ZirpnsnoøP( sn( tA:HfFFR) Fi) TBBC)9@H)
)8ı:;9b=P(Xrusj(P(QJ(rnk(TJ(YîkipPikjJP(Z(mnk(mn{(aîrgèiîî(^l(wîs(jósnoP(ã(Hç(8ã§äJ
drnj(mn(LRvshóP( YJ( ¨KIIâJ( [@bJ:FCF;e) 9:) >J)@) cC)A==GFFPÇ) OGAb>9b@) A:H) OGFP9=@) 9:)
>J@) ÉÅ=>) c@:>) Ånl) kmjhlñnm( nr{( óhhñ{££hijmîJmpo£j hijmî£jig kmglvinhJ
rjñ¬TUXÕ§Mç…XUXÕKMã§
UonìrhmusíP( õJP( eJ( ümurêiusíP( aJ( ôijiîkësìrP( XJcrphrwiksìrnP(cJ(cphrênsèP( ^J(clêèmusíP(
cJ(clèmusí(¨KIIäJ(]:;C@=RFr=GB=R9SaGB=RFr@:;C@=R9)G@X:9R)=A);GAPA>9RFPJ(aimoprk{(
Unjhshlh(r(jhprni(ìisèiJ
ZiuïP(ôJ(¨KIIâJ(cT88Ç)cF:>@ñ>)A:H)cF:b@B>9F:s(Sòmpk{(S\^J
ZiuïP(ôJ(Qnk([J(Rhmgèiîî(¨HMMãJ(cT88)^9P@:=9F:={'ZB>9F:=)A:H)`==@H)8A:;@:H@:b9E@) AQ9)E@k9RA)9)R:E9@Q:F=>9P(õwmpnsè(prkmurP(lpJ(eJ(clêmP(bsîmîméès(òrèlîhihP(aimoprkP(
ãK§8ãHHJ(
ôsésí( UîsíP( aJ( ¨HMMäJ( PPômkiî( iurîlrgsìi( l( nrjhrus( ìisèr( nr( krîìsnlffP( [@PA>=R9) kfFG:9R)
]QAC9l(lpJ(eJ(clêmP(bsîmmòjès(òrèlîhih(WsèésíP(HHI8H§KJ
ôsésí( UîsíP( aJP( ôJ( VprìrnmusíP( ¨HMMäJ( PP\êinìi( nr( krîìsnl( s( nrjhrur( jhprnsó( ìisèr¥P(
[@PA>=R9)kfFG:9R)o9H9=b9BC9:AG:F=>)AQ9):A=>AQ@)E@k9RA)9)R:E9@Q:F=>9l)lpJ(eJ(
clêmP(\nsuipshih(Tpni([mpiP(bsîmmòjès(òrèlîhih(WsèésíP(HMK8HKçJ(
RrîrwippïP(ôJ(`J(¨KIIãJ(¥Vói(hóimpihsgrî(òmlnkrhsmn(òmp(hói(kiuiîmñvinh(mò(ñikromosgrî(
hrjèj(sn(gmvñlhip(viksrhik(gmvvlnsgrhsmnJø(cT8`cZ)äF@H)CA:;=l)bF:>@ñ>=)A:H)
BGAb>9b@=J(ZsngmînP(WY{(s\nsuipjiJ
RinkiòòïP(kiP(eJ(¨HMMåJ(T)OGAb>9bAC)jF)¥=9:;)cFPB@G=)9:)8A:;9b=)A:H)`:iFGPA>9F:)aFb9@>e)[@bJ:FCF;9@=l)
áGH)UACRA:)cF:i@G@:b@)9:)`:iFGPA>9b=P(umîJ(KP(ikJ(üJ(amïrnmuP(`J(Wsèmîmu(@>s)ACJP(RmûrP(
§§K8§åHJ(
VprìrnmusíP(ôJP(aJ(ôsésí(UîsíJ(¨HMMIJ(¥Yñipsingi(shó(Qññîsgrhsmn(mò(hói(YLZirpnsno(
Rïjhiv( sn( YbZ( Virgósno( rh( hói( brglîhï( mò( Unòmpvrhsmn( VigónmîmoïøP( prk( sîmëin(
nr( vi⁄lnrpmknmv( jèlñl( ]rC@AG:9:;) 9:) UACRA:) TbAH@P9b) `:=>9>9F:=Ç) UAGG9@G=l)
cJACC@:;@=)A:H)ZBBFG>9@=P(Wséèr(arnìrJ
§äH

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
©rpjórlipP( ôJ( ¨YkJP( ¨KIIåJ( V9G>9F:=Ç) Z:C9:@) Tb>9Q9>9@=) À) OGFE@b>=) iFG)
Ä@>gFGR9:;)8A:;9b@J(Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjJ
©rpjórlipP(ôJP(RóihîipP(dJ(…(ôiîmnsP(TJ(¨HMMMJ(`:>@G:@>)iFG)]:;C9=J)[@AbJ9:;J(Qîirnkpsr{(
VYRSZJ
Y;B

Xmkrhrè(8(ümpsjns(snhipnih(jrìhmus{(
Snîrìn(piênsgs{
U9)CEA):A)o9)W9û)`C9û)r)8E9)CEA):A)o9)JAE)CF)Q9û
JmlñJgmv£mrîk
óhhñ{££ksghsmnrpïJgrvwpskoiJmpo
JîkmgimnîsniJgmv
JgmîîsnjîrnolroiJgmv
JvrgvsîîrnksghsmnrpïJgmv
JmniîmmèJgmv
óhhñ{££ksghsmnrpïJwrwïîmnJgmv
óhhñ{££ksghsmnrpïJpiuipjmJnih
JwrwïîmnJgmv
JñksghsmnrpïJgmv
JòrújJmpo£ñómhmLksgh
JjiúlingiñlwîsjósnoJgmv£
hóijroimnîsniJñóñ
JmnîsnipignsèJgmv
óhhñ{££jpñjèmLinoîijèsLpignsèJgmv
JvihrèJgmv
JèpjhrpsgrJgmv£pignsè
JjîrusgnihJgmv
JsjìJgmJïl£YRRY£YRRYJóhv
Snîrìn(ingsèîmñiksìi{
óhhñ{££ingrphrJvjnJgmv
JsnòmñîirjiJgmv£ingïgîmñiksr
óhhñ{££iklgrhsmnJïrómmJgmv£piòipingi£
ingïgîmñiksr
JúlijhsrJgmv£îswprpï£
ingïgîmñiksr
JwpshrnnsgrJgmv
JsèsñiksrJgmv
Wrjhruns(vrhipsìrîs(l(iîièhpmnjèmv(mwîsèl{
JirvinoîsjóJgmv( ( ( ( JinoîsjóLmnîsniJmpoJlè
JinoîsjóLmnîsniJmpoJlè( ( ( JijîLîrwJgmv
JljsnoinoîsjóJgmv( ( ( ( JmpîkLinoîsjóJmpo
JijîomîkJgmv( ( ( ( óhhñ{££inoîsjóLîijjmnLñîrnJgmv
JijîgròiJgmv( ( ( ( JpmnoLgórnoJgmv
JhirgósnoinoîsjóJmpoJlè£hpï£îijjmnLñîrnj( JvrgvsîîrninoîsjóJgmv£(
( ( ( ( ( ( jirjmn
óhhñ{££JwwgJgmJlè£mpîkjipusgi£îirpnsnoinoîsjó
óhhñ{££wwgrghsuiinoîsjóJgmv£wwgLmpîkLnijLinoîsjó uskimJóhvî
JwwgJgmJlè£mpîkjipusgi£îirpnsnoinoîsjó£îrnolroi£hóihirgóip
óhhñ{££ijîJrwmlhJgmv£mk£inoîsjóîijjmnñîrnj£Ynoîsjó Zijjmn ^îrnj òmp YRZ
YbZ TîrjjijJóhv
§ä§

\Y(WeY(eY(õU(üQ(\õ(^S(ôS±(`Q(\(WQ(`Q(üQS(WS(cU(QüQ(XYô(RüU(^`YX(ôYV
ümnjlîhrhsuns(jrìhmus{
óhhñ{££ijîJrwmlhJgmv
JijîgròiJgmv
JmlñJgmv£iîh£hirgóipjgîlw
JrnjipjJgmv
JinoîsjóòmplvjJgmv
JijîhirgóipjwmrpkJgmv
óhhñ{££òmplvjJîmnovrnJgmv
JinoîsjógîlwJgmv£ijîLòmplvj
JinoîsjóLhijhJnih£òmplv
óhhñ{££òmplvJmpkpiòipingiJgmv
JiîhòmplvJgmv
Rhplêns(YRZ£YZV(êrjmñsjs(l(iîièhpmnjèmv(mwîsèl{
JhijîLiìJmpo£mpkñpijj(
óhhñ{££iîhìJmòmpkìmlpnrîjJmpo(
JhijmîJmpo( ((((JijîvroJgmv
óhhñ{££shijîìJmpo( ((((óhhñ{££iîhìJmòmpkìmlpnrîjJmpo
\mpgs(hijhmur(r(ñmnrhi(sjñshi{
JgrvwpskoiijmîJmpo( ( ( (JirvinoîsjóJgmv
JihjJmpo
Snîrìn(kniuni(nmusni(s(uiîsèi(Vc(vpiëi{
JolrpksrnJgmJlè( JsnkiñinkinhJgmJlè((((((((JrjósnohmnñmjhJgmv
JwwgJgmJlè(( JnïhsvijJgmv(( (((((((JgnnJgmv
§äå

§äã

NINA POLOVINA
h$Q&\PSR"'R"!S"U"'P"Q'#T#"PSTPT'h$TRfTh'
e'R"!S"UT'!S$"RQ]'&\WTP"
#(}(=>(~>L
ÅC(B>(>(OC(Ç;(AC(;B;E(=@(}>(=@((;(=@z(=;E(?;=(~Cy(Ç@(=@(FÇ@(BC(
EAC(=@(FÇ@B(=>?(;A((N}C(=>(~>(NÇ>(}N(=@(?;=(~CyÇP(
ÇC(OC(>(=@(}>=((?;Ö(OC((y;A(FÇ>(}C(à>(Ñ;(BN(F@(O;(FÇ@z(=;FÇP(?B(=;FÇP(
Fy;(F;:(=;FÇ(B(=>O(F>(ÇN(@(~>(Ö@(O@J('F>O(Ç;(E@(;B@Ö(;:(z>?(=@(FÇ@(BC(;O;(EN(DN(ÖC(Ny;(Ç(Ç>Ñ(
OC(A>(Ö@P( :>(z;( N( y(y(y(FÇNyP(F;(~>(Ö@z(=@(?;O(yC(ÇC=(~>(Ö@P(;(@(~>(;(=@( ?;O(yC(ÇC=(~>(Ö@P( OC(Ç;(A>}(?@( ?;O(yC(ÇC=(~>(Ö@P( O;(Ç>(B@(~>(Ö@P( ÉN=?(~>(;(=@z(=;FÇP(
>=(ÇC(F~>(yz>(=@(F@(O;O((=@(FBC(;(:N(ÑB@(Ç@=(=@(}>=J(%;(=@((;?B>(

Ä9:A)OFCFQ9:A
y;(FÇN(y@?(?;(Ö>(;O;(EN(D@(B@(y;(BC(>(B@(àC(>=(A>(B>(AN(@z(=;E(y(FÇN(y@(F@(O(
;?O(
=>(B;(>(O@( |?;(z;(B@(à@J( 0@( Ç@Ö( =@(}>=( y;A(FÇ>(}C( FC( ?B(=;FÇP( N}C(F=>(~>(O@(
N(y(?@(A@(@?(Ç>B(=;(N}C(FÇBN(ÖN(N(
;:(z>(?;(B@(àN(=@(FÇ@B(=;E(y@(:C(=((y@(B;ÇJ(,=(ÇC(F~>(yz>(=@(|C(z;(E>}(?>(=@(}>=((|Å@(à@P(y((=N(>(y(B@(àN(CO;(~>(;(=@z(=;E(>((;(=@z(=;E(
N(N}C(àNJ("@A(N(E(F>(ON(z>((ÖN(>(y;A(FÇ>(}C(F;(~>(Ö@z(=N(?;OL
y;(=C=(ÇNJ(4@;(O@(O;(O;(Ç>(B>(F@(=C(N}C(=>(?C(?;(Ö>(@(>=(ÇC((@(ÖCA(=>}(?;E(~>(Å@J(
#yO(;B>O(}>(àC(=>(~@(O@(y(FÇ@(Ç>(FÇ>}(?>(>O@(ÖN(O@(z;(N}C(|DC(
N(=@(FÇ@(B>(ÖC(>(?@P(@(N(Ç;(E@(FN(B>(|C(FÇJ(3B@(?@(?;(Ç;(OC(A;(y(=;(F>(=CL
NyN(DC(=;FÇ(=@(FÇ@B(=>(?@P(=C(@(AC(?B@Ç(=;(>(B;(C(àC(y(
E((;(@(~>(Ö>J(4;A(;A((:C(E@(B@(àN(A;(A@Ç(=;E(@=(E@(G;(B@(à@(>(=C(@(>=(ÇC(P(@(?@;(=@(}@(Ö@=(
yF(Ç>(}C(FC(>(Ç;(|Ç;(=C(y;(FÇ;(Ö>(ÖC(A>=(FÇBC(=@(AC(É>(=>(~>(Ö@(>(NÇB(Ö@J(
§ää
lOmO'TåÑç'9ä'Üçâ
%C=(y(}C(;A(z@(Ç>=(F?C((BG)F)9)b@)G@(¨FÇB;((Ç>P(>(:@(~>(Ç>P(
@(A@(=@F(FC(?;((FÇ>(N(=@(}C(àN(yz@(=>((ÖNJ('=(=>(ÖC(;E(}C=(=@(yC(A@(E;(E>(ÖNP(BCD(FC(y(OC(àN(ÖC(>(N(
AO(;:z@(FÇ>(O@(=@(N(?CP(ÇCÑ(=>(?C(>(;(@(~>(ÖC(N;y(|ÇCJ(
+;(Ö@O(y}(?>(O;(ACz(?;(Ö>(FC(@(F=>(B@(=@(@OCL
}(?;O(y(ON(F@(?(Ö>(ÖC(;F=>(B@}(°J(3J(+>

+"'6.4%0*(0*3%*&*(4*'(!,!*4%,°4,(+",0Ü,+(#(0*3%*&,(JJJ
y(Ö@(>(4>z(y@(Ç(?@P(@z>(ÖC(FÇB;(;(=;(BN(?;=(~Cy(~>(ÖN((8(;=(=C(
y;(O>(àC(ÇC=(yP(Ny((Ö@(y(z@(>(;?B>(=(FÇ>(ÇN(~>(;(=@z(=;(;(;(B@(=C(=@(FÇ@(BC(>(;A(=;(F>(
FC(>(=@(;FÇ@(zC(;:(z>(?C(;:(NFB@(Ö@(à@(=;(B>Ñ(=@(à@J(3Ç;(E@(;=(?;((FÇ>(
ÇC=(y?(@?(Ç>B(=;(FÇ>(?;(Ö@(FC(;:@(BÅ@(F@(~>(ÅCO(
N}C(à@J(+(Ç;O(FB@(?@(y;(z@(=@(Ç@}(?@(¨y(áC=(FCz(¨XJ(dœnjiî(?;((FÇC(Ny(F@(A(~>(Ö@z(=@(Ç@}(?@(
y(=@Ö(?;=(FC(?BC=Ç(=>(Ö>(
>((z@(>(O;(>(=@(y(
>O@( =C(?@( ;:C(zCG(Ö@( yAG)>9);@Gl) BGF)E@R)>F)G9)@:)>9)@G)>@G) ¥:)>@G)G9bJ>l)
BGF)E@b>rfA)=@H)C@)AG):9:;l)BG)F)E@b>rFG9)@:)>@H)C@)AG):9:;J(3@(FB>O(ÖC(F>(EN(N(=@Ç(=;Ö(OC((NÇ>(}N(=@(y(OC(=N(N(=@(FÇ@(B>P(
ÖC(Ç@(à@(@Ñ(ÇC(B@(ÖN(ÖCA(=;(FÇ@B(=C(>(?;=(?

Ä9:A)OFCFQ9:A
mO'Q!RQU'R"'Qæ\'V\%'&"'h$'Q'&\'P"'S"'e'R"'!S"'UT
§IM
mOlO'Qé6'ã6¡'â>'
3(;:(>((FN(ÖC(BC(z>?(
:(@(;y>(F>(B@(àC(y;(FÇNy(?@(>(@(ACL
É>(=>(F@(àC(~>(ÅC(B@J(4@;(ÖCA(=@(;A(=@Ö(=@(}@Ö(=>(Ö>Ñ(>F(Ç>(}C(FC(NFOC((ÖN(>(FÇB@(B;Ç(=C(y(z>(?CP(y@(FC(O;(GC((A@(FN(y(
N(;A((@(F@(O;(AO(Ç;(E@(y(F>(Ö;OP(y(};O(>(FzJP(y@(;=>(>O@(ÖN(y(z>(?N(A@(>(|>((y(?@(GN((B@(~>(ÖNJ
+(AC(z>(O>}(=;(@Ñ(ÇC(B@(ÖN(>(>(OC(àC=(=@(}>=((Ö@z(=N( ?;O(yC(ÇC=(~>(ÖNP( (Ö@( ;(@(Ç;( >(
y;(>(Ç>B(=;(AC(zN(ÖC(=@((O@(y;(Ç(BC(|Ç>(=@(O@((?;=(?FÇ;(B(Ç>( ;(@(~>(ÖN( y;(ÖC(A>(=@}(=>Ñ( @(A@(Ç@(?@( >(
;A(E;(B;( @( FB;Ö( AC;( y;(Fz@J( %;( ÖC( >( >AC(@z(=@( y(z>(?@(
A@(N}C(=>(~>(;Bz@(A@(ÖN(>=(ÇC(F~>(yz>(=@O 1 (y(FÇN(y;OP(?@;(>(A@(=@(yN(FÇC(
FB;(ÖC(N;:>(}@(ÖC(=C(Nz;(ECP(y@(ÖC(=@(Ç@Ö(=@(}>=(=@(FÇ@(B@(O=;(E;(@(=>(OÅ>(B>(Ö@J('F>O(
Ç;(E@P(yO(FC(O;(END(=;FÇ(A@(FB;(ÖC(ÖC(>}(?C(BC(|Ç>(=C(y(OC(=C(>(y;(BC(GN(F@(
(ÖC(NFB;(ÖC(=>O(=@(à>(O@(>(BC(|Ç>(=@(O@J
3@O(y(Ö@(FC(=@(=C(|Ç;(A(Ö>(=@(}>=(=C(E;(=@(Ç(~>(;L
=@z(=>O(}@(F;(B>(O@(ÖC(>(?@J(3yC(~>(É>}(=@(?;=(~Cy(~>(Ö@(;B;E(y;(FÇNy(?@(;O;(EN(D@(B@(
(Ö@(àC((}>(Ç>Ñ(?;O(yC(ÇC=(~>(Ö@ H (¨y(Ö@(BC(@(=@(@(F@(ON(ÇC(ON(¨}>(àC(=>(~C(>(?;=(ÇC?FÇ(ÇC(OC(?;(Ö@(
FC(;:((Ö@z(=@(?;O(yC(ÇC=(~>(Ö@(¨Ç>O(F?>((=@}(=@(;A(E;(B;=((~@P(?;(ON(=>(?@(~>(Ö@(N(;?B>((=@(?;Ö(OC((@(B>(F>(;A(?;=(?Ñ(;F;(:>(=@J
H( ( 'A(Ç>(y@(y(>F(?N(FÇB@(N}C(=>(?@(N((=@(?;O(=>(B;N(>(=@(?;(Ö>(
=@(}>=(DC(FC(;A(B>(Ö@(Ç>(y

+"'6.4%0*(0*3%*&*(4*'(!,!*4%,°4,(+",0Ü,+(#(0*3%*&,(JJJ
L( OC(Ç;(A>}(?@(?;O(yC(ÇC=(~>(Ö@(¨OC(Ç;(AC(@(y':'Üçë
)@((?N(;A(Ç(~>(;(=@z(=>Ñ(OC(Ç;(A@(N(=@(FÇ@(B>P(y(N(BC(D;Ö(OC((
y;A(FÇ>(}N(?B(=;FÇ(N}C(=>(?@P(y@(=@(Ç@Ö(=@(}>=(y;(FÇ>(GN(CÉC?(ÇC(?;(Ö>(FC(FO@L
ÇOJ(%@(:C(z@(y(?@(N(ÖC(y;((?;(?@((?@ 4 {(
0@(FÇ@(B@(?;(Ö@(N?ÅN(}N(ÖC(y(;(=@z(=@(=@(FÇ@(B@
*?(Ç>B(=;(N}C(àC
#}C(àC(yN(ÇCO(;Ç(?(B@(à@
3;y(FÇBC(=@(O;(Ç>(B@(~>(Ö@
0C(y;(FF(?N(FÇB;
,=(ÇC(F~>(yz>(=@(~>(>(y?(N(~C=(Ç((=@(}@=(y(;(=@z(=;Ö(=@(FÇ@(B>(y(=C(FzN(|@(à@P(
}>(Ç@(à@P( y>(F@(à@P( ;A(E;(B@(( A>(F?N(Ç;(B@(à@J( 3BC( ;BC( BC(|Ç>(=C( =@(z@(>(O;(
>(N((Ñ;(B@(y(OC(=@(Ç@(A@(ÉN=?(~>(;(=@z(=@P(
@AC(?B@Ç(=@(y(?;=(?(ÇN(@(~>(Ö>J('F>O(Ç;(E@P(y(y;A(FÇ>L
}N((Ö@(àC(Ö;|(ÖCA(=C(=@(}@Ö(=C(BC(|Ç>(=C(?;(Ö@(FC(}C(FÇ;(@(=C(O@((Ç@(à@J(-;(Ez;(:>(FC((A@(y(?;((FÇC(Ç(~>(;(=@z(=C(
?;=(~Cy(ÇC(BC(|Ç>(=@P(@z>(>Ñ(FÇ@(BÅ@(ÖN(N(=;(B>(;?B>(;(=@z(=;FÇ(L(=C(N}C(àC((N}C(à@P(=C(E;(N}C(àC(F@(~>(ÅCO((A(Ö@(;:C(zCG(Ö@J('B(AC(ÖCP(OC(N(Ç>OP(;:@(BÅC(=;(EC(=C(

Ä9:A)OFCFQ9:A
5>(z;(:>(y;(EACL
@z(=;(?(:(N(
;:(>Ñ( ?@(y@(~>(ÇC(Ç@P( :( FBC( ;FÇ@(zC( É@?L
Ç;(=(ÇC((?CP(?@;(>(A@(>Ñ(y(yB(=;(FÇ>(=@(y;(FzN(>(N(G>(B;(ÇNJ(
uO'fT'\'UT'T'^"'W\'h$'Q'&\P'S"
uOlO'f'Ü6
4@;(;F=;B(=>(~>Å((A@(FC(=@(BC(AC(FÇB@((Ç>B(=;E(N}C(à@P((Ö@(à@(O@(=N(Cz(=>Ñ(Fy;(F;:(=;(FÇ>(>(CO;L
~>;(=@z(=;E(>F(?N(FÇB@(¨[plnk(jrh(ip(îrjj(lv(^pm(ìiè(hln(hip(psgóh(HMMK{(ãåJ(#(O=;(|ÇBN(
@Ñ(ÇC(B@(?;(Ö>(FC(y;(FÇ@(BÅ@(ÖN(yy(=@(FÇ@(BC(O;(GC(A@(FC(>F(Ç@?(=C(=C(?;(z>(?;{(
L( N}C(àC(F@(~>(ÅCO(B(=C(>(F;(~>(Ö@z(=C(?;O(y;(=C=(ÇC
L( >=(ÇC(F~>(yz>(=@(|C(FÇ(~@(àC( >=(BC=(Ç>B(=;(FÇ>( ¨>=(A>(B>(AN(@z(=>( y(FÇNy( '
+( FN( y( ;?(
y}(=;O(~>(ÅNP(y@(ÖC(>(=@(}>=(J(#(ÇC(;(Ö(F?>O((;A(FÑB@(Ç@(à@(F@(O;E(y;Ö(O@P(@z>((?C(OC(N(à>(O@(=>(FN(;A(y

+"'6.4%0*(0*3%*&*(4*'(!,!*4%,°4,(+",0Ü,+(#(0*3%*&,(JJJ
§( "C(@(z>(@(~>(Ö@(8(N}C(=>(~>(y(?N(yÅ@(ÖN(>=(É;(ÖCP(F@(O;(FÇ@z(=;(>z>(
N(E(Ç@(à>(O@J
å( !>(F?N(F>(Ö@(;((@(ÖCA(=;(F@(=@(FÇ@B(=>(?;O(
y(CBC=(ÇN(@z(=;(yO(=@(BC(AC(=>Ñ(?;((=@(y}(=@(y>(Ç@(à@ ã (
;(@(~>(ÖC(}>(Ç@(B;E(y(?@P(@z>(>(
}>(Ç@(B;E(?;(zC?(Ç>(B@(;A(=;(F=;(;:(O;(EN(A@(:N(AN(y(?@(@(=>(N(;:(z>(?N(>(BC(|Ç@(Ö@P(yz@(?@(Ç@P(>A(=>Ñ(=;(B>(=@P(>=(É;(;(=>Ñ(z>(FÇ>(D@P(y(}@P(;(CO>(F>(Ö@P(O@(ÖN(>(=C(N(;(:>(}@(ÖC(=C(
É;(~@P(>(z;(G:@P(AE(F=;(FÇ>(;A(ÇC(OC(y(>=(BC=(Ç>B(=;(FÇ>(N}C(=>(?@J
ã( ( 0C(?@(;A(y>(Ç@(à@(O;(Ez@(:>(A@(:N(AN{(4@(?;(A@(FC(y(F@(;FÇ@(z>O(;:@(BC(@(O@(N}CL
=>(?@¬(4;(Ö@(F(ÇC((Ö>(FÇ;(ÖC(=@((
yF(yz@(=>((B>(|C(O;(N}C(=>(?C¬(
§Iç

Ä9:A)OFCFQ9:A
;B>Ñ(@(A@(Ç@(?@(N}C(=>(~>(NFB@(Ö@(ÖN(>(>(B@=(|?;(zCP(@z>(=@Ö(}C(|DC(=>(FN(=@(B>(?z>(
A@(>Ñ(y(OC(àN(ÖN(N(>=(FÇ>(ÇN(~>(;(=@(z>(;(B@(=;O(;?B>((N(=@Ç(=@(;E(}C(à@(
¨y(ÖC(N(?;(Ö>(O@(DC(FC(@(F>(EN(
N(?@(F=>(ÖCO(yC((;(ANJ(+;(FC(:@=(=@(Ez@(F@?(FÇ@(BÅ@(FC(=@(@?(Ç>B(=;(N}C(FÇB;(B@(àC(N(
FB>O(É@(@(O@(y(Ç@(?;(Ç(?@(O@(>(BC(|Ç>L
=@(O@(A@{
L( =@(y( y;(FÇ@(BC( (ÅC(BCP( @( @(Ç>O( A@( FC( Ç;(E@(
y(A(|N(?@;(Ç>O
L( y(?N(yC(y;(Ç=(É;(ÖCP(;:(Ñ(>(>(BN(?N(@(?ÅN}(?C
L( OC(N(F;:(=;(?;(ON(=>(~>(((àC(=>(~@( ÖC( A@( >( F@(O>( N}C(=>(~>( }C(FÇ;( =C((ÖCP(F(ÖCA(=C(FÇÑ(OC(Ç;(A@(=@(FÇ@(BCP(@(F@(A(O@(=(>(N(CÇ(=;(B@(G=>(N((Ç>Ñ(?;O(yC(ÇC=(~>(Ö@P(y@(y;(}CÇ(=C(y;(ÇC(|?;(DC(=C(:>(Ç(y@((?@(F@(FÇ;(Ö>(FC(Ny(~>(O@(y(:z>(G>(FB@(?N(
É@(N(yO(y;(ÖCA(=;(FÇ@(B>(@(A@Ç(?C(>(y;(O;E(=C(N((@(~>(Ö>J(0@(FÇ@BL
=>?(=C(y(=@(àC(A>(O@(=C(?;(z>(?;(Nz;(E@(?;(ÖC(FC(FOC(àN(ÖN(N(
@(B>(F=;(FÇ>(;A(É@(C(y(|C(@?(Ç>B(=;(FÇ>
L( y(yÑ(y;(ÇC(|?;(D@
L( y;(F(Ç@(à>(O@(ÖC(>}(?>Ñ(BC(|Ç>(=@(>(z>=(E;B(y(?C
L( y=(É;(ÖC( ;( ÇC(O>( y(
N}C(F=>?J â
+(y(FÇNy(L(NOC(FÇ;(=@(FÇ@B(=>(?@(N(
~C=(Ç@(N}C(=>?P(@(ÇC(G>(|ÇC(=@(FÇ@B(=;E(y(@FyC?ÇP(>=(A>(B>(AN(@z(=;FÇ(>(C?F(yC((OC=(Ç>(F@(àCJ(
â( ( 0@(;B;O(OC(FÇN(FN(=@(:Ñ(Nz;(E@(=@(FÇ@B(=>(?@P(@(;A(?;=(?(ÇN(@(~>(ÖC(
@(B>(F>(N(?;(Ö;Ö(DC(OC((;=(y(ÑB@(Ç@(Ç>(;BC(>z>(y(O@(Ç>(=C(?C(=;(BC(Nz;(ECJ
§I§

+"'6.4%0*(0*3%*&*(4*'(!,!*4%,°4,(+",0Ü,+(#(0*3%*&,(JJJ
úOmO'cç'Ñ(?@( ¨@z>( >( =@(FÇ@B(=>(?@( @( y(OC(=N( y(y;(BC(@(=;(ÖC(F@(ÇC(;(Ö(F?>O(y(FÇN(y;O(ÇC(O>(¨y(ÇC(=;(z;(E>(ÖCP(
É@(@P( @z>( >( F@( ?;=(?O( >F(?N(FÇB>(O@P( ?;(Ö>Ñ( N( y(zN( =C(O@( O=;(E;J( 3Ç;L
E@(FC(F@(BC(ÇN(ÖC(A@(FC(N((@(~>(ÖN(?(FC(;B@(?@B(=@(}>=(;(y;(FÇC(yC(=;J(#(y(FC(y;(?@(@(z;(A@(FN(
N}C(=>(~>(?;(Ö>((F@(=>(>(CO;(Ç>B(=;(
@=(E@(G;(B@(=>(=C(E;(?;A(?z@(F>}(=C(=@(FÇ@(BCJ(6C(A@=(;A((
@(à>Ñ(((N}C(FÇBN(ÖNP(y@(FC(Ç@(?;(
BCD(=@(F@(O;O(y;(}CÇ(?N((Ö@(@(>=(ÇC((~@(àC(>=(A>(B>(AN(@z(=;E(
y(FÇN(y@(ÇC(O>(;O;(EN(D@(B@(N?ÅN(}>(B@(àC(>(Fz@(:>(Ö>Ñ(>(:;(Å>Ñ(N}C(=>(?@(¨A;(AC(Å>L
B@(àCO(y;(ÖCA(=@}(=>ÑP(y;(FC:(=>Ñ(@(A@(Ç@(?@P(@(>FÇ;(B(
(}>(Ç>Ñ(?@((>=(ÇC(((Ñ(FÇ>(ON(z>(|CJ(4;=(?(Ö@J(!;(A@Ç(=N(O;(Ç>(B@(~>(ÖN(y(O;(END(=;FÇ(L
Ç>O(OC(A>(Ö>(O@(N(E;(Ç;(B;(N(FB>O(É@(@(O@(y}(?;E((B@(àCP(@(N?;(z>(?;(N}C(=>(~>(=>(FN(BC(|Ç>(N(Ç;(OCP(>O@(DC(
y(?N(A@(Ç;(=@(N(}C(=@(y(}@=(>(ÖCA(=;(FÇ@(B@=(=@(}>=J
O'cQ]e»RQ!S'h$Tc\R\'h$Q&\P"S"'R"'R\c"STRTc''
''''^"PeVS\STc"
0@(FÇ@(B@(FÇ(?@(=@(=C(O@(Ç>}(=>O(É@(?Nz(ÇC(Ç>(O@(N(=@(}@Ö(=;Ö(OC((FC(
(?N(ÖC(;A(=@(FÇ@(BC(O@(Ç>}(=>Ñ(y(;A(=@(FÇ@(BC(ÖC(>(?@(N(y( =C(?;(z>(?;( ?@((?@( ?;(ÖC( ÖC( y;(Ç(Ç>P(@(?;(ÖC(FB@(?@(?;(NÇ>(}N(=@(y(}@=((:(?@(=@(BC(D>(=>(É@(?Nz(ÇC(Ç@
HJ( !(Ö@(@(>=(ÇC((O;(Ç>(B@(~>(Ö@(
çJ( 'A((?;O(yC(ÇC=(~>(Ö@(>(BC(|Ç>(=@
,@?;(=@(BC(AC(=C(?@((?C(O;(EN(AC(z>(O>}(=;(A@(O;(A>(É>(?N(ÖN(=@(}>=((~>(}C(FÇ;(?;((FÇC(?@;(>(E;(B;F(?ÅN(}>(B;(Ç(~>(;L
§Iå

§Iã
Ä9:A)OFCFQ9:A
=@z(=;(?;=(~>(y>((}@(ÖC(=C((ÖC(y>(F@(=>Ñ(ÇC?(FÇ;(B@P(
N}C(F=>(~>(O@(N(y(O;(END(=;(FÇ>{(A@(y(OC(=C(>(y;(BC(GN(
NFB;(ÖC(=@(=@(à@P(A@(N(>(OC(àC=(y(FÇNy(ÖC(>(?N(y(N(@(O;(;E(}C(=N(
@(>=(ÇC((A@(N(O(;?;z(=;(FÇ>(O@(;y(ÖC(>(BC(|Ç>(=CJ(3(;:(>((?@(
FC(AC(z>(O>}(=;(OC(à@P(ÖC(N}C(F=>(~>(N(BC(D;Ö(OC((O;(EN(F@(O;(FÇ@z(=;(A@(ACL
z@(ÖN(N(FB>O(É@(@(O@J("@A(=@(y(O@(A;(y(=;(F>((ÇN(@(~>(Ö@(O@P(Ç@(?;(FC(y(F(?N(FÇB;(:O(Ç;(E@P(=@(;F=;(BN(Ç>(y@(;Ez@(F@P(àC(E;(BC(F@(A(
>( >=(É;B(=;(FÇ>( O;(EN(DC( ÖC( >(BC(FÇ>( O=;(|ÇB;( @(?ÅN(}@(?@( ;( ;Ez@(|>(B@(}NP(
àC(E;(B>O(=@(OC(Å(=;(FÇ>(>(FzJ(3B@(?@(?;(ÖC(@(=>(OÅ>(B;(>(>F(Ç(B@(àC(
F@(O;E(ÖC(>(?@(;Ez@(F@(¨O@(ÇC(>z>(FÇP(FÇ>(z@(y>(F@(à@(>(>(:;((=@J(,(
N(;B;O(FzN(}@(ÖN(y;((Ç>Ñ(?Nz(ÇNÑ(>(ÖC(>}(=>Ñ(;?(=@(BC(AC(=C(z>(ÇC(

+"'6.4%0*(0*3%*&*(4*'(!,!*4%,°4,(+",0Ü,+(#(0*3%*&,(JJJ
BJ(0@(?;=(¨É>?(Ç>B(=C(>z>(FÇB@(O;(GC(A@(FC(=@(y(=C(?@(B(}@(¨yz@(?@(Ç@P(yN(Ç;(y>(F@P(~(FzJ(F@(FB>O(y;(ÇO(
>=(É;(Ö@(O@(@(ÇN((FÇCJ(0@(Fz>(}@=(=@(}>=(O;(GC(A@(FC((>(=@(y((B@(à@( O;(GC( A@(
:N(AC((}>(Ç@P(;B@Ö(y(?;Ö(OC((y;A(FÇ>(}C(?B(=;FÇJ(3z>(}@=(
y(A@(FC(:@(B>(y(?@(>(B@(àCO(>£>z>(y;((y>}(=>Ñ(;F;L
:>(=@P(=@(B>(?@(>(FÇ@(B;(B@(¨@(O@(ÇC£>z>(FÇ( y( y>(F@(à@( ÇN(G:CP( y(E;(B;((~N(>z>(y(B;AJ(
AJ()@(=C(?C(E(OÅ>(B@(>F(Ç(B@(à@(>FÇ;(Ö(F?;E(Ç>L
y@(8(y(?@(>(B@(àC(=@(}@Ö(=>Ñ(z>}(=;(FÇ>(¨N(B>(AN(yz@(?@(Ç@P(>(BC(|Ç@(Ö@P(É>?(Ç>BL
=>Ñ(>=(ÇC(O@JJJP(A;(E@(@(Ö@(=@(}@Ö(=>Ñ(@(y;(ÖC(A>=(~@P(Ez>(C(OÅNJ(
'F>O(N;:>(}@(ÖC(=;E((àC(=>(~@P(z>}(=;FÇ(>z>(A;(E@(@Ö(O;(EN(A@(FC(
>(OC(FÇC(N(=C(?>(A(B£yz>(A@(FC(y(?@(GC(F>(ÇN(@L
~>(Ö@(N(G>(B;(ÇN(z>}(=;(FÇ>£F>(ÇN(@(~>(Ö@(N(C(OÅ>(=@(?;=(>(BC(F=;E(:(=@(L(=@(
Ç@Ö(=@(}>=(FC(y}(=;(y(OC(àN(ÖN(NFB;(ÖC(=@(=@(à@P(y;A(FÇ>(}C(FC(FBC(;(:N(ÑB@ÇL
=;((|Å@(àC(>(>=(BC=(Ç>B(=;FÇJ(
±O'W"'Pe'"P
3BC(?;O(yzC?(F=>(Ö>(AP(ÇCÑ(=>}(?>(>(C?;(=;O(F?>((=@(FÇ@(B@(
ÖC(>(?@(N(:N(AND(=;(FÇ>(F>(EN(yO(>@(;(B>(O@J('F=;B(=C(?@((?C(A>(A@?(Ç>}(?;E(y=(~>(y@(?;(Ö>(;A(z>(?N(ÖC(y(Ç>O(?;O(yC(ÇC=(~>(Ö@(O@(>(BC(|Ç>(=@(O@P(y@(FC(=@(Ç@Ö(=@L
}>=(=@(FÇ@(B@(y(:z>(G@(B@(?;=(?O(G>(B;Ç(=>O(;?;z(=;(FÇ>(O@J(+(=@(Ez@L
|@(B@(ÖN(=@(}@Ö(N}C(=>(?@P(y;A(FÇ>(}N(>=(ÇC(F~>(yz>(=@(y(FÇNy(>(;ÇB;((:;((FÇ(Ö@((Ö@(}@(àN(F@(O;(FÇ@z(=;(FÇ>(>(
;A(E;(B;J(*?(ÇN(Cz(=C(ÇC(OCP(;y>(yÅ>(B@(((~>(ÅC(B>(y(B@(~>(ÖN(>(FÇB@(}(=N(y;A(z;(EN(@((ÇN(@(~>(ÖC(N(G>(B;(ÇNJ(
VTS\$"Se$"
alnkijvsnsjhipslv(òÃp(asîklnoP(©sjjinjgóròh(lnk(ülîhlp(¨dpjoJ(¨HMMKJ(jGk@G­
CA==)k@GG9bJ>s)©sinJ
bpiï(ürpî(¨KIIãJ(^9@)OGFE@R>P@>JFH@J(aiîhJ(©isnóisvP(arjiîJ
§Iâ

Ä9:A)OFCFQ9:A
[lkìmnj(dipwiph(¨KIIâJ(tA:HC9@G>)C@JG@:)@GG9bJ>)9Q9>ø>J(üîsnèórpkhJ(ark(disîwplnnJ((
dœnjiî(Xrovrp(¨dpjoJ(¨KIIIJ(tA:Hf@GG9bJ>J(aiîhJ(©isnóisvJ
Zinêmur(Uusgr(¨HMMåJ(Qlò(kiv(©ioi(lp(Zipniprlhmnmvsi(mkip{(^pmìièhi(sv(XilhjgólnL
hippsgóhJ(oF=A9Rs)h@;9F:AC@)^@=bJC@JG@Gk@9>=bJG9i>P(ãäLâçJ
Z“pjgóip(ôrpîsij(¨KIIâJ(Xilhjgólnhippsgóh(vsh(òmphoijgópshhinin(eloinkîsgóinJ(vG@PH­
=BGAbJ@)^@=bJs)ç@9>=bJG9i>)ièG)H9@)OGAñ9=)H@=)^@=bJ@GG9bJ>=J(ãLKKJ
^lmusí(Qnoiîsnr(¨HMMåJ(^pmìièhi(sv(\nhippsgóhJ(oF=A9Rs)h@;9F:AC@)^@=bJC@JG@Gk@9>­
=bJG9i>P(ãLKHJ
©sgèi( `rsnip( YJ( ¨HMM§J( TR>9Q) 9Q) C@G:@:s) OGFE@R>FG9@:>9@G>@) aBGAbJAGf@9>) 9P)
¥:>@GG9bJ>s)ôr(dliwip(cipîroJ(UjvrnsnoJ
NINA POLOVINA
^`SeYüV\WVY``UTdV(QZR(XUXQüVURTdYR(^`UWõU^(Uô(
b`YôXR^`QTdYW\WVY``UTdV
ç=@(+;z;B>=@
#=>BCÇCÇ(N(5C;E

S[S&(&#30%*-&
R"!S"U"'!VQU"PQ]'&\WTP"'P"Q'c"S\$g\]'e'
UTÆTc'$"W$\#Tc"'Q!RQUR\'ÆPQV\
#( ( Fz;B@}?;E( ÖC>?@( ?@;( O@ÇC|>O( @|z>(=;B>(=@FÇ@B=>(yz@=;B>(@(B>|C((NÔ:C=>~>(@(åP(ãJ(>(âJ(B@z>(FN(
§II

42('()ö#"5,(
~

0*3%*&*(31'&*°4'2(6.),4*(4*'(-*%."/.2(#(&,$,-("*)".!,-*(JJJ
Ç;E@(AC~@(=@FÇ@BÅ@ÖN(|?;z;B@àC(=@(F=C(;A(
N?Ny=;E(:?@(3z;B@?@(ÖC(N(Fz;B@}?C(|?;zC(>|z;(çHâH(N}C=>L
?@P(;A=;F=;(âHPãä«J
5(>(0;B;O(3@AN(ÖC(yz>}=;(BCz>?(¨KKI§P(
;A=;F=;(KãâçP(@z>(F(;:>L
Ç;E(E;A>|Ç@P(=C(y;FÇ;Ö>(O;END=;FÇ(A@(FC(;F=NÖN(|?;zC(=@(Fz;B@}?;O(ÖC>?N(
>(@Ç;(FC(ÇN(;NÖC(=@FÇ@B@(Fz;B@}?;E(ÖC>?@(F@(CzCOC=Ç>O@(=@~>;=@z=C(
?NzÇN:;(y(F@(;B>O(y>Ç@àCO(=@BC|DCO;(=@Öy=FÇ>ÇN~>ÖC(?;ÖC(:=N(;(Fz;L
B@}?;O(|?;zFÇBN(N(&;ÖB;A>=>J(+;FC:=N(y@GàN(Fz;B@}?;O(ÖC>?N(y;FBCDNÖC(
*F;~>Ö@~>Ö@( Fz;B@}?>Ñ( yCA@E;E@P( 0@~>;=@z=>( F@BCÇ( Fz;B@}?C( =@~>;=@z=C(
O@à>=C( ¨y;FC:=;( FC?~>Ö@( @( |?;zFÇB;( ?@;( >( 3z;B@?>FÇ>}?;( B;ÖB;@=F?;(
A}Cà@(>(Fz;B@}?;E(ÖC>?@J(*F;~>Ö@~>Ö@(y;O@GC(N(F@FÇ@BÅ@àN(=@FL
Ç@B=>Ñ(yz@=;B@(>(y(FN(N(FÇ@àN(A@(?;FÇC(Fz;B@}L
?>(>(F(ÖC>?(?@;(@zÇCB=C(ÖC>}?C(?;A;BCP(@z>(ÖC(N(=C?>O(FzN}@ÖCL
B>O@(à>Ñ;B@(ÖC>}?@(?;OyCÇC=~>Ö@(=@(O@ÇC?N(;Fz@:ÅC=@(NÇ>~@ÖCO(
Ñ(=CÖC>}?>Ñ(}>=>z@~@J('B>(}>=>;~>(;A}?C(?;OyCL
ÇC=~>ÖC(=@(F?NJ
5>Ç=@(ÖC(}>àC=>~@(A@(FN(Fz;B@}?>(>(F(ÖC>?(EC=CÇF?>(F(>(Ç>y;L
z;|?>(:z>F?>J():;E(Ç;E@(Fz;B@}?;LF(:>z>=EB>@O(yL
É>}=N(B(F?@J(#(;B;O(FzN}@ÖN(O>=;(
ÖC>?(¨Fz;B@}?>(;:CzCGC=(ÖC(?;=Ç@?Ç=>O(y;Ö@B@O@(yO(;A(FÇ

åMH
42('()ö#"5,(
O>=@=Ç=;E(ÖC>?@(¨FÇ@àCO(Fz;B@}?;LFz>=EB>O@(:@B>L
z>(FN(FC(F?;(3z;B@~>(z>=EB>FÇ>(N(&;ÖB;A>=>J(-@Ö@(->ÖCBC~(ÖC(FB;Ö(
~Cz;G>B;Ç=>(>FÇB@}?>(>(yCA@E;|?>(z@(y?@((F@(FO(N(NFz;B>O@(:>z>=EB>O@P(@(y;FC:=;(y~>(OCNÖC>}?C(>=ÇCz>=EB>FÇ@J
4@;(|Ç;(FO;(BCD(yOCÇ>z>P(F?@(A;y=;F>(Ç;OC(A@(
}z@=;B>( Fz;B@}?C( CÇ=>}?C( E?P( @z>( =@(
AOCN(ÖCA=;E(>(A}?;E(F>FÇCO@(|Ç;(A;B;A>(A;(>=ÇC(F?@J(
°>àC=>~@(A@(ÖC(Fz;B@}?@(C=?z@B@(N(&;ÖB;A>=>(>=Ç}?>( ?;=Ç@?Ç(
F@( O@Ç>}=>O( ÖC>}?>O( AB>O(
Fz;B@}?>O(ÖC>?;O(N((:;E(=CA;B;Å=;E(
y;=@B@à@(zC?F>?C(FB;E(O@ÇC?@P(Fz;B@}?;LFz>=EB@z=@(;F;L
:@(O;GC(FÇCD>(NÇ>F@?(A@(ÖC(F(ÖC>?(:;E@Ç>Ö>P(|Ç;(;F>?@~>ÖN(=@(Fz;B@}?;O(ÖC>?N(>(y;O@GC(>=ÇCÑ(AB@ÖN(ÖC>?@J(
#(FB@?;O(FzN}@ÖN(>N}@B@àC(Fz;B@}?;E(ÖC>?@(?@;(O@ÇC=>(
FC(:>Ç=;(?NÖC(;A(>N}@B@à@(Fz;B@}?;E(ÖC>?@(?@;(O@ÇCàC=>~@(A@(ÖC(N(&;ÖB;A>=>(Fz;B@}?>(ÖC>?(O@ÇC(ÖC>?(CÇ=>}?C(O@à>=C(
:>Ç=;(NÇ>}C(=@(FyC~>É>}=C(~>ÅCBCP(@z>(>(F@AN}@B@à@(;B;E(y(A@(FC(Fz;B@}?>(ÖC>?(3z;B@?@(?@;(CÇ=>}L
?C(E=>(Ö@(N(NFz;B>O@(;ÇNC=;FÇ>(;A(O@Ç>}=;E(ÖC>}?;E(
AO(ÖC(:>Ç=@(}>àC=>~@(A@(3z;B@~>(=>FN(?;Oy@?Ç=;(=@FÇ@àC=>(
N(&;ÖB;A>=>P(ÇC(ÖC(F(ÖC>?(}CFÇ;(A;O>=@=Ç@=P(Oz@C(EC=CÖC(3z;L
B@?@(FC(BCD(;A(y;}CÇ?@(É;z>=EB@z=>(E;B;~>P(@(Ny;Çz>(A?@(@B>F>(;A(Ç;E@(?;Ö>(ÖC>?(ÖC(N(?;Ö;Ö(F>ÇN@~>Ö>(A;L
O>=@=Ç=>Ö>J(3B>(3z;B@~>(?;Ö>(y;Ñ@@ÖN(}@F;BC(Fz;B@}?;E(ÖC>?@P(;F>O(;B;E(
ÖC>?@P(;:@BC=;(y;Ñ@@ÖN(>(}@F;BC(F?@P(@z>(FC(}CFÇ;(AC|@B@(A@(
?;=Ç@?Ç>(F@(AC~;OP(?;Ö@(N(Ç;Ö(>FÇ;Ö(|?;z>(y;Ñ@@ÖN(?;OyzCÇ=N(=@FÇ@BN(
=@(F?NJ(#(NFz;B>O@(:>z>=EB>O@P(@(:C(yB>O(Fz;B@}?>O(ÖC>?;O(?;OyCÇC=~>Ö@(=@(Fz;B@}?;O(ÖC(?;A(N}C=>?@(;Fz@L
:ÅC=@(N(BCD;Ö(>z>(O@à;Ö(OCP(@(>(N}>ÇCÅ>(>(=@FÇ@B=>~>(FN(?@;(yy@A=>~>(
O@à>=F?;E(ÖC>}?;E(Az>=EB@z=>(E;B;~>P(Ç@?;(A@(>(;=>(>O@ÖN(
;Fz@:ÅC=N(ÖC>}?N(FBCFÇJ
Ü>ÅCB>( >( F@AN}@B@à@( y( ÖC>?( FN( FBNA@( >AC=L
Ç>}=>P(@z>(N(y(FC(O@?F>O@z=;(B;A>(Ö>(>(
;(?;=?P(}CON(FC(yz@E;@B@(>(F@O(yN}@L
B@à@J

0*3%*&*(31'&*°4'2(6.),4*(4*'(-*%."/.2(#(&,$,-("*)".!,-*(JJJ
,N}@B@àC(Fz;B@}?;E(ÖC>?@(N(O@à>=F?;Ö(F=>(N(&;ÖB;A>=>(=CO@(Ç@?L
BC(}BÇ>(Ç@?;(}BÅCBCP(?@;(|Ç;(ÖC(FzN}@Ö(N(3z;B@}?;ÖP(
N(O;=;z>=EB@z=;Ö(F=>J(+N}@B@àC(;B;E(yFÇ>O( B>AN@z=C(ÖC>}?C(>(>=ÇCzC?ÇN@z=C(
y?@J(#(FB@?;O(FzN}@ÖN(O;(A>A@?Ç>}?;(yz;(A@(
N}C=>?C(Ç?@(FÑB@Ç@ÖN(
?@;(F@FÇ@B=>(AC;(FB;ÖC(CÇ=>}?C(yy@A=;FÇ>P(@(=C(?@;(z>}=>(ÇC

42('()ö#"5,(
VTS\$"Se$"'
XlkmèP(ôspmjîru(¨HMMäJ(çAbJGØ:@:˜)EAkeRs)Wrkîrè{(cïkrurhi+jhum(Uurn(üprjèmJ
ôïìrugmuÏ(ôÏpsr(¨HMMHJ(aCFQ@:X9:A)Q)EAkeRFQ@E)@:RCØQ@J(aÏêjèï(^ihpmuig(8(Wrkîrè{(
ülîh,pr(8(cïkrurhi+jhum(Uurn(üprjèmJ
Rrvrpkësí(ôspmjîru(¨KIIIJ(OFCFAE)PA:E9:A)

&(&#-[Z*-0T
"R"VTW"'heæVTP\'T'hQS$\æ"''
e'R"!S"UT'!S$"RQ]'&\WTP"'!S$eP\
3@(Ö>Ñ(>(Ñ(y;=@z=>Ñ(E(=;B@(
FyC~>É>}=@( yN:z>?@P( @( F@O>O( Ç>O( =@FÇ@ÖN( >( Ö@ÖN( FC( >( FyC~>É>}=C( y;Ç?CJ( 3Ç;E@( ÖC( y;Ç( =@( y;}CÇ?N( ?N?(?;Ö>(:>(FC(;A=;F>;(?@?;(=@(à>Ñ;BC(y;Ç(;}C?>L
B@à@P(Ç@?;(>(=@(~>ÅCBC(?;ÖC(=@FÇ@B@(ÇO@J(#(Ç;?N(F@O;E(?NO@(FC(
O;EN(y;FÇ@B>Ç>(>(A;A@Ç=@(y>Ç@à@(?;Ö@(:>(=@FÇ@B=>?N(y;O;Ez@(A@(FB;Ö(y(CBC=ÇN@z=C(yB=;FÇ>(?;ÖC(:>(=@FÇ@B=>?(O;=>Ç>(Ç;?;O(yy|C( ;A=;F>( >( =@(
A;OC=(y;=@z=>Ñ(@?Ç>B=;FÇ>(>(?;ON=>?@~>Ö@(?;Ö>(@ÑÇCB@(NFz;Gà@L
B@àC(?;OyCÇC=~>Ö@P(?@?;(;=>Ñ(?;Ö>(FC(@(=C?N(FÇÑ(?;Ö>(FN(BCD(@y;FzC=>J(°CFÇ;(FC(y(
O;Ez;(:>Ç>(?;F=;P(@(@=CO@@(A@ÇC(y=;(;A(à>Ñ;B>Ñ(y;Ç(F@O@(y( FzNG:C=>~>(
ÇB@à@J(#(Ç@?B>O(F>ÇN@~>Ö@O@(FBC(
ÖC(=@(=@FÇ@B=>?N(A@Ç;E(FÇ?@(FÇ(=@(FB;Ö@(
=@à@(>(y}=@(>F?NFÇB@(A@(:>(FC(Ny;=@;(F@(yN:z>?;O(>(F@=@;(
?;ÖC(FN(àC=C(?;=?

“'()L465,#
lO'"R"VTW"'heæVTP\'
*=@z>@(yN:z>?C(y;AÑ;B>O(=>B;;O(;y|ÇCE(
>( FÇÑ;B;O( ?NzÇN(
;?Ñ;B>O( ;}C?>B@à>O@( >( ;=>O( |Ç;( ;=>( FO@ÇO( ÖC(
=@ÖB@G=>ÖC(A@(=@N}CP(?@;(>(F@(=@}>=;O(=@(?;Ö>(N}C(FÇ(ÖC>?J(4@A@(FC(N}>(
=C?>(ÖC>?P(=C;yÑ;A=;(ÖC(@=E@G;B@Ç>(F@B(BCD(FÇC}C=>(?NzÇN(?@y>Ç@z(y;ÖCL
A>=~@P(O@(?@?;(;=(=@(y(y;EzCA(>EzCA@;(=CB@G=;(>(A@zC?;(;A(y;FÇ;ÖCD>Ñ(
y;Ç}?>( ?@y>Ç@z( }>=>( AC;( ;y|ÇCE( ?NzÇNÇ@z@ 1 P( Ç@?;( A@(
:;ÅC(y;=@B@àC(F;yFÇBC=;E(ÖC>?@(>(=@àC(AÑ(FÇÑ(ÖC>?@(NO=;E;OC(
y;O@GC(y(N}CàN(=C?;E(FÇ?@J("@z>?NÖN(FCP(=@(=@}>=>(
=@(?;ÖC(FB@?>(y;ÖCA>=@~(N}>(FÇ(ÖC>?(>(N(Ç;O(yB>(?NzÇN(>(ÖC>}?>(?@y>Ç@zJ(3Ç;E@(ÖC(>NCÇ=;(B@G=;(A@(
=@FÇ@B=>?(=@(y;}CÇ?N(ÖC(|Ç;(y=>ÖC(>=É;ÖC(;(yN:z>~>(
8(N}C=>~>O@(F@(?;Ö>O@(Ç(?;ÖC(Ny;Ç{(Zmlsj(^mpgóipP(8@)iGA:®A9=)CA:;GA:;dG@P(^rpsjP(drgóihhi(ZsupiP(KIIåP(ñJ(HäJ
H( ( ,FÇ;P(FÇ

*0*1,)*(+#51,4.(,(+'%".5*(#(0*3%*&,(3%"*0'2(6.),4*(3%"#4.
=>B;@æ(A@(z>(}>Ç@(=@(FÇ?N(>(?@?BC(ÇC?FÇ;BCæ(A@(z>(ÖC(=C?@A@(:;;(>z>(G>BC;(N(COÅ>(N(?;Ö;Ö(FC(Ç@Ö(ÖC>?(E;B;æ(?;z>?;(y;=@ÖC(ÇN(COÅN(>(
àC=N(?NzÇN(?@?;(:>(N}C=>?(GCzC;(A@(N}>P(;A=;F=;(?@?;(FO@Ç(Ç(=@FÇ@BN£N}CàC(A@(:>(FC(y;FÇ>Ez>(;yÇ>O@z=>(J
!"+;Ç(|Ç;(y=>ÖC(>=É;ÖC(;(Ç;OC(EAC(FCP(?@A@(>(
?@?;(N}C=>?(;:z>(Ö;|(;:(ÖC(AC;(FB;E(;:z>(
y;=@z=;E(@=E@G;B@à@(;:@B>;(N(COÅ>(>z>(COÅ@O@(}>Ö>(ÖC>?(N}>æ(
A@(z>(FC(;:(F>FÇCO>(>z>(NFz;B>(N(?;Ö>O@(FC(B(y;=@z=@(
@?Ç>B=;FÇ(N(ÇC(ABC(COÅC(:>Ç=;(?NÖNæ(A@(z>(N}C=>?(N(FB;Ö;Ö(COÅ>(>O@(
yFÇNy(=@Ö=;B>Ö>O(>B;O@(FÇÑ(>=É;Ö@(¨=@N}=>O(}@F;y>F>O@P(
>=ÇCÇF?;O(y}=;æ(A@(z>(ÖC(O;ENDC(A@(=@FÇ@B=>?(
FÇ?@(FÇÖC(|Ç;(B>|C(y;A@Ç@?@(F@(ÇC?(;:z>((¨=@(yOC;=>F@àN(Ç@?B>Ñ(>=FÇ>ÇN~>Ö@P(;(
@?;=F?>O(yF>O@P(;(CBC=ÇN@z=;Ö(OCN=@ON(
>(~>ÅCB>O@J
!")@(=@FÇ@B=>?@(FÇ?@(FÇ(=@FÇ;Ö>(A@(yy(?N(>(àC=>O(y;Ç(?@?;(=@FÇ@B@(FÇ?@(FÇP(A@(z>(DC(Ç;(:>Ç>(
N(Ç;?N(FÇNA>Ö@(>z>((N(Ç;?N((>B@=(àCE@æ(A@(z>(
N(>=FÇ>ÇN~>Ö>(N(?;Ö;Ö(N}C=>?((>z>(>B@=(àCæ(?;z>?;(ANE;(>(F@(?;z>?;(
}@F;B@(=CACÅ=;æ(?@?B>(DC(:>Ç>(NFz;B>((ÇCÑ=>}?@(;yÇ>(Ç(|Ç@(FC(;A(N}C=>?@(=@(?

åMä
“'()L465,#
o ':ÖC?Ç>B=C(y;ÇÑ(N}C=>?(y;=C?@A(=>ÖC(FBCFÇ@=P(@z>(?;ÖC(
y;FÇ;ÖC(>(=@FÇ@B=>?(>Ñ(O;AC=Ç>É>?;B@Ç>J(+(Ç;O(=C(FOC(A;B;z>Ç>(
A@(;=;(|Ç;(;=(GCz>(>z>(O>Fz>(A@(ÇÖ@z=C(8(C?FÇC?(Ç@Ö(?;Ö>(FC(yz@E;@B@(F>ÇN@~>Ö>(>(=@FÇ@B=>O(F@AO@P(BCD(A@(FC(
F@A(yz@E;@B@ÖN(yN:z>~>(>(;E}Cà>O@(?;Ö@(;=@(y;FÇ@BÅ@J 3
*=@z>@(y;Ç(FÇ>}=@(>(yz@E;AÅ>B@(BC;O@(}>L
Ç>O(>(:O(?;=?O(F>ÇN@~>Ö@O@J(Ü>ÅCB>(O;Ç>(y=;(ACL
É>=>F@=>P(@(B?N(>(N}C=>?N(FÇ;Ö>(=@(}=;(
ÖC(BC;O@(?(FC(B@Å@=;(yy;P(=@FÇ@B=>?(FÇ?@(ÇO(DC(>(N(?@?B>O(yz>?@O@(N}C=>?(?;ON=>~>(=@(
FÇ?Næ(A@(z>(ON(ÖC(=@ÖB@G=>ÖC(A@(F@=>(ÇC?FÇ(>z>(>z@E@àC(
=@(FÇ?NP(>z>(A@(F@O(E;B;(>(y>|CJ(,BCF=;(ÖC(>(A@(FÇ(@(
>FÇN(;:z@FÇ(O;EN(>O@Ç>(BC;O@(}>ÇC(y;ÇÇ@(FÇÇCÇ>O@(O;GC(:>Ç>(=C;yÑ;AL
=;(A@(NFOC=;(?;ON=>~>(FÇ@=;B=>~>O@(¨Ñ(>(F@O(FC(
>}?>(B;A>}(=@ÖB@G=>ÖC(:>(
:>z;(A@(=@(NFOC=;(A@(;:Ö@|à@B@(>(;y>FNÖCJ 4
,(;BAC(O;GC(:>Ç>(?;F=@(Ç@:Cz@(8(Ny>Ç=>?(F@(FzCACD>O(y>Ç@à>O@{
!"4@?@B(ÖC(;y|Ç>(?;=ÇC?FÇ(?;ON=>?@~>ÖC{(;(?;Ö;Ö(F=>(ÖC(B=;FÇ>(N(;?B>

*0*1,)*(+#51,4.(,(+'%".5*(#(0*3%*&,(3%"*0'2(6.),4*(3%"#4.
!"4;Ö>(ÖC>}?>(FÇ@Ç>(?;|DC={(>F?ÅN}>B;(FÇ@=A@P(
@?@ACOF?>(>z>(O;GA@(>(É@O>z>Ö@(¨=@(yOCz>(N(FB@?;A=CB=;O(?;ON=>~>|Ç@(z>=EB>FÇ>}?>Ñ(CzCOC=@Ç@(;(?;Ö>O@(ÇÇ>(>(y;Ç?@(>AB@Ö@ÖN(FC{
#" 1C?F>?@(8;y|Ç@(zC?F>?@P(FÇÖ@(;AP(>(?@}=>(@(;A}?@(y;Å@æ
#" -;=Ç@?F>}?C(FÇ=CP(BCBCF=;FÇ>æ(y;(Ez@E;z>P(B=C(@OC=>~CP(y@F>B=C(?;=FÇÖC(>ÇAJ
#" 7;=;z;|?@( ?;Oy;=C=Ç@( 8( yz@=( >E;B;(
@FÇ@Ö?>B@à@æ( yz=@( >=Ç;=@~>Ö@P( @AC?B@Ç=@( Ny;ÇÇAJ
#" +@=EB>FÇ>}?C( ?;Oy;=C=ÇC( 8( >=Ç;=@~>Ö@P( E;B;O>?@J
#"(((3;~>;z>=EB>FÇ>}?C(?;Oy;=C=ÇC(>(FÇÖCJ
0@Ö}C|DC(ÖC(zC?F>}?@(?;Oy;=C=Ç@(Ç@(;(?;Ö;Ö(FC(B;A>(=@ÖB>|C((>(ÖCA>=@(>z>(>Ç;(A;O>=@=Ç=@J(,FÇ>L
=@(ÖC(A@(zC?F>?@(;O;END@B@(A@(FC(ÇC?FÇ(FOCFÇ>(N(;A(FÇ(A;OC=(
¨=@(yOCP(OCA>~>=F?>(>z>(O@ÇCO@Ç>}?>(>(A@(ÖC(;=@(
=@Öz@?|C(N;}Å>B@P(@z>(FB@?>(FÇ(ÇC?FÇ(>O@(>(BCD>(>z>(O@à>(:(FB@?;A=CB=;E(FÇ@=A@?@J(,O@ÖND>(N(B>AN(>(A@(ÖC(FÇ?@(
}CFÇ;(>=ÇC;=@z=@P(;=@(ÖC(F@O>O(Ç>O(>(yz>}=;(z@?;(yB@(
@(N}C=>?C(=C?;E(FÇ?@P(y;FC:=;(@?;(FN(;=>(BCD(FÇ(@(;AL
J(°CFÇ;(ÖC(=CA;B;Å=;(y;=@B@àC(;F=;B=C(zC?F>?C(>(E?C(
=@ÖBCD@(yÖC(@B(CB;zNÇ>B=@P(>(Ç;(>(=@ÖO@àC(AB@(=;B=;(A;B;A>(A;(;:@BCC(
A@(FC(=@y(>:;ÖC(F@O>(N}C=>~>(O;EN(A;BCFÇ>(N(y>Ç@àC(>z>(
;Fy;Ç>P(>z>(y@?(A;(=;B>Ñ(>(AÖ>Ñ(@ÑÇCB@J
L(!(|C(ÇCÑ=>}?C(y@?;(:>(Ç;(:>z;(O=;E;(:;ÅCP(
=@FÇ@B=>~>(FÇ?@(FÇ(A@ÅC(O@(y~>(z>(FC(;:(ÖCP(=@(@ÑÇCB(A>Fz>;(?N

åKM
“'()L465,#
=@>|@;(=@(@ÑÇCB(@?@~>Ö@(=@(
É?N(?;Ö@(:>(>Ñ(;Fy;F;:>z@(A@(F?;y@B@à@(=@(z;?@z>ÇCÇ>O@J å
#(FzN}@ÖN(A@(=@FÇ@B=>?(=>ÖC(N(O;END=;FÇ>(A@(F?C(yF?NFÇB;(=C(F@O;(?@;(N}CF=>?@(N(=C?>O(FyC~>L
É>}=>O(E;B;O(F>ÇN@~>Ö@O@P(BCD(y(ÖC(
O;P(;F=;B=@(zC?F>?@(;FÇ@ÖC(>FÇ@P(?@;(>(=@ÖB@G=>ÖC(E}?C(FÇ}?>(yFÇNy(O;GC(:>Ç>(Fz>}@=J
L(0@(F@O;O(ÇC(N(?;=Ç@?Ç(F@(=C?>O(FÇ(C?;=;O>FÇ;OP(
?;Ö>(DC(ON(A@Ç>(?;=?(?;F=C(>=É;ÖCJ
L( 4;=FNzÇNÖC( y;FÇ;ÖCDC( NÔ:C=>?C( FÇ?@( FÇP(ÖCO@(>O@(F>ÇN@~>Ö@P(Ç>y;B@(ÇC?FÇ;B@(>(A>FL
?N(:>(FC(O;Ez>(Ny;ÇÇ>(y(FÇB@O(É@?NzÇCÇ>O@(FC(FÇ(ÖCL
>~>(y;Ç>F?NÖNP(y;FÇ@ÖN(>:;(>(}CFÇ;(=C;:@BC=>(yJ(0@(B>|C(;A(
åã«(É@?NzÇCÇ@(#=>BCÇCÇ@(N(5C;E(FC(F@O;(=@FÇ@B@(C=EzCF?;E(ÖCL
>?@P(@(>(Ç;(F@(O@à>O(:NCÇ=;(B@G=;(>(:;E(y;:;Å|@à@(O;Ç>B@~>ÖC(?;A(FÇNAC=@Ç@(?;Ö>(
FN(}CFÇ;(;:CFÑ?@(;FÇ@z>Ñ(y(y(Ç;O(=C(
B>AC(O;END=;FÇ(A@(N(=C?>O(O(G>B;Ç=>O(>(O(F>ÇN@~>Ö@O@(@>FL
Ç@(ÖCA=;E(A@=@(yOC=C(=@àC(FÇC}C=;(=@(?NO@(FÇ?@(FÇÖ@J
å( ( &>ACÇ>{(ôrnosrnhi(eirnLôrpgP(Tórnhrî(^rpñihhi(HMM§({(8@)vGA:®A9=)=9i)=BDb9{?9F:)HI

*0*1,)*(+#51,4.(,(+'%".5*(#(0*3%*&,(3%"*0'2(6.),4*(3%"#4.
uO'ehTSRTfT
,O@ÖND>(FBC(;B;(N(B>ANP(O;GA@(:>FO;(O;Ez>(yÇ>(FzCACD>(Ny>ÇL
=>?( ?;Ö>( :>( FÇNAC=Ç>( O;( A@( y;yN=C( =@( y;}CÇ?N( ?N(FC(;A=;F>;(?@?;(=@(à>Ñ;BC(y;Ç(;}C?>B@à@P(Ç@?;(>(=@(
~>ÅCBC(?;ÖC(=@FÇ@B@(>O@{
KJ((M.5)4N#.%)5,(6)6%2#/u)
L( F@O;( @Ç;( |Ç;( }>=>( AC;( ?N?NzNO@( É@?NzÇCÇ@( £( A@( :>Ñ( y;FÇ>E@;( :;Å>(
NFyCÑ(=@(FÇNA>Ö@O@(£(A@(:>Ñ(=@FÇ@B>;(FÇNA>ÖC(N(A@Ç;Ö(FÇ(£(A@(:>Ñ(
>O@;(BCDC(|@=FC(y(@y;|Å@B@àN(£(A@(:>Ñ((y;(FÇÇCL
|CO(FÇÑ(
NFOC=;(>z@E@;(=@(?;=ÉCÖ@O@(>(FCO>=@O@(£(A@(:>Ñ(Ñ(y;FÇ@BÅ@;(y>Ç@à@(>(NFOC=;(?;ON=>~>z>(
FÇO@(N;y|ÇC
HJ(ë(/,5)6%),(M%)2'(&%)0(.5+)-."('5+)6%2#/(u)
L(?;z>?;(ANE;(>(EAC(FÇC(E@(N}>z>(£(?;z>?;(ÖC(E;A>=@(;A(Ç@A@(yO@ÇC(z>(
=C?N(OCN=@yz;ON(;(=@àN(Ç;E(ÖC>?@(>(?;ÖN
çJ(ë(/,%)-4),(M%)(/.#,'5-.#)2()/56%)í#)í#*5)75."%í'5)2'(&%)-."('5+)6%2#­
/(¬(
L(?;ÖC(@A@Ç?C(ÇÇC{(F@O;(=@(}@FN(ÖC>?@(>z>(>(N(?;=?O(O(F>ÇN@~>Ö@O@(£(y;FÇ;ÖC(z>(?;=Ç@?Ç>(F@(FÇO(?;zCE@O@(>z>(FÇO@(
N;y|ÇC(>(;(?@?B;Ö(B(?;=Ç@?@Ç@(ÖC(F?NFÇB@(>(FÇ@B;B>(;FÇ@L
z>Ñ(?;zCE@(¨:>z;(;=>Ñ(F@(?;Ö>O@(FC(FÇNA>z;(;=>Ñ(?;Ö>(FN(BCD(@y;FzC=>(
N(O(yO@(>(>=FÇ>ÇN~>Ö@O@(£(A@(z>(B@O(ÖC(=@àC(A@Ç;E(FÇ?@( y;Ç( >B@=( yÖC( £( yÇC( z>( =@( FÇ?N( y>F@L
=C(>z>(NFOC=C(>B;=É;Ö@{(FÇÇCÖC(=@(ÖN(>(ÇCzCB>>Ö>(>z>(É>zO;BCæ(N(?;Ö;Ö(OC(>Ñ(

“'()L465,#
?;=?O(y;ÇC|?;D@O@(>(N?z;=>(CBC=ÇN@z=C(yÇ@à@(:>(FC(;AL
=;F>z@(=@(y=;(N;}C=C(ÇC|?;DC{
KJ(N(}>Ç@àN(>(Ñ(A;?NOC=@Ç@{(?à>E@P((}@L
F;y>F@P(NyNÇFÇ@B@P(>BC|Ç@Ö@P(?;ÖCP(yz@=;B@(>(|CO@P(:CzCG@?@P(
F@ÖÇ;B@(=@(>=ÇCFOC=;O(>F@O@P(}z@=@?@(>(
OC@P(yz@=;B@(>(|CO@P(NyNÇFÇ@B@(>z>(;:Ö@|àCà@P(>BC|Ç@Ö@æ
çJ( N( Ñ( >=É;Ö@( >( F@O;FÇ@z=;O( NFOC=;O( >{(>z@E@à@(>(yBC|Ç@ÖC(;(y;=@z=>O(@?Ç>B=;FÇ>O@(>(y;FÇ>E=NÇ>O(O@P(y;FCÇC(FÇz>(
:;=;FÇ~>(@(@=@z>>?C(>(àC=>Ñ(
y;Ç?@A@(=C(O;EN(:>Ç>(FÇ=>F@=>(=>(?;=@}=>J(3B@?@(FÇ?(NBC?(N=;FC(y;(=C|Ç;(=;B;(>(
AÖC(}CON(FC(yz@E;@B@ÖN(?@?;(Ny>Ç=>?(Ç@?;(>(yÖC(?;ÖC(
y(?;ÖC(FC(FÇ;E@(O;|C(Ö@Ç>J(0C;yÑ;A=;(ÖC(Ç@?;C(
A@(FC(=@FÇ@B=>?(;:(@(y;O;D(FÇO@(@(A@ÇN(;:z@FÇJ
VTS\$"Se$"
Trpprj(TrhóipsniP(Vmîrj(ergúliîsniP(^rhpsgsr(ümóîipP(Yîsjrwihó(Rsîroïs(¨HMMâJ(8@)iGA:­
®A9=)=9i=)=BDb9{?)CA)bCA==@)H@)CA:;

*0*1,)*(+#51,4.(,(+'%".5*(#(0*3%*&,(3%"*0'2(6.),4*(3%"#4.
7H7#>F;O
QWQZ†RY(X\(^\aZUT(YV(XYR(aYRSUWR(XQWR(ZfYWRYU[WYôYWV
XYR(ZQW[\YR(_V`QW[˜`YR(R\`(SaeYTVUbR(R^_TUbU]\YR
hD==)bCD=({(îrnoli(thprnoqpi(ki(jñtgsrîshtP(ñlwîsgP(wijmsnjP(úlijhsmnnrspijJ
*=@(&NÖ;B>D
#=>BCÇCÇ(N(5C;EÇCÅF?>(É@?NzÇCÇ
iLvrsî{(rnrJulìmusgÀlòJwoJrgJpj(
åKç

åK§

101&(&#2,3%*-&g)0#.#X01&(&#/&%Z&X*-0T
h$Q]$"cT$"g\'R"!S"U\'cQ$^QVQ]T&\''
!$h!PQ]'&\WTP"
3Ç(=C(O;(FÇC(O@(
F(?@(>O@(ÖN(yz>(®f}C(FÇ>(~C(=@(à@ff(P(|Ç;(ÖC(y((F@(Ñ(~C(z>(=@P(y;(BC(N(ÖN(D>(=@(àC(y;(ÖC(A>(=@}(=>Ñ(}>(àC(=>L
~@(N(F>(FÇC(OCJ(
åKå

Í#ï('()!%."5,(N/#)r)#ï('()K("6($5,#
+(FB@(?>(AC;(yÑ((?@(OC(N(N}C(=>(~>(O@J(
'B@(?B@(=@(FÇ@(B@P(yL
B>(AN(@(z>(@(~>(ÖN(y?(F@(O;(FÇ@z(=;(N}>P(FB;(Ö>O(ÇCO(y;O(>(B(?@;(;:(~>(ÅC(B>(y'ë(ÖC(=@(FÇ@B(=C(ÇCÑ(=;(z;(E>(ÖCJ(
'=;(=>(ÖC(=>(ÇCFÇJ(#(y;(}CÇ(=;Ö(É@(>(>((=C(FÇ@L
ÖNJ(4((y(?@(?;(OC(Ç;(A@(>F(y>(Ç>(B@(à@(>z>(ÇC(FÇ>(Å(y((|Å@(à@(;=;(E@(|Ç;(N}C(=>?(y(Ç@P(?@(?;(:>(NFyC(|=;(;(y;L
FÇ@(BÅC(=C(@(A@Ç(?C(>(Ç>(OC(FÇC(?@;(y;(Ç(~C(>z>(}>(Ç@(BC(=@(FÇ@B(=C(~C(z>(=CJ(#;}@(B@(àC((?@(>(OC(N(@NA>;LB>(NL
Cz(=>Ñ(F(F@(O;(E@(y(y(?B@(z>(ÇCÇ(=>Ñ(y((OC(Ç;(A>}(?>(F>(FÇCO(=>(ÖC(N=>(BC( :;(ÅC( (?@J( *z>( Ç;( =>(ÖC( 6%)0#)'() OC(Ç;(A@J(
'A(zN(?@(yOP(@(B>(F>(DC(y(ÅC(B>(O@(=@(FÇ@B(=>(?@(>(=@(BCD(=C(?>O(FÇC(}C(=>O(=@(B>(?@(O@(N}C(=>(?@(@(
y(N(:N(AND(=;(FÇ>J H (
K( ( %@(?BC(ÇB(=@(FÇ@B(=>Ñ(ÖC(A>(=>L
~@P(|Ç;(ÖC(>(~>à(;B;(E@(( yF>(Ñ;(z;(>( >( z>=(EB>(FÇ>( FO@(Ç( ( >F(Ç(B@(à@( y(FC(O;(Ez>((@(=C(O@((Ç>(;FÇ@(z>(OC(Ç;(A>}(?>(F>(FÇC(O>J(#(y(Ö@{(A@(B@(àC(AC(Ç@Å(=>Ñ(>=(É;(Ö@(>(y;AL

+"'2"*-,"*/.(0*3%*&.(-'"7'1'2,6.(3"+34'2(6.),4*
'y(|Ç@(y;(FzC(A>(~@(Ç@(?B;E(N}C(à@(O;(Ez@(:>(A@(:N(AC(A@(Å>(BC(D>(=@(y(Ö>(y(;:?P((y;(=C(?;O(y(ÖC( ?B( ;=( BCD( y(
A@(;FÇB@((yz>(
;:(z>?(y(y(=C(Ç@(?@B(yOP(y;(FÇ;(Ö>(>(A(Ö>(ÇC(;((
y(FÇNy(N(;A((B@(àN(O;(AC(z@(y(ÖCA(=N(Ç@(?BN(ÖC(A>(=>(~NP(y;A(BF(y>(ÇNJ(
+F(y>(Ç@( ;A(zN(}N(ÖC( FC( ;( }C(ON( DC( FC( >=(É;(F@(Ç>( N(
>AN(DCO(}z@=(?N(y?(=>(ÖC(@(A;(B;(Å>;(?(ÇC((ÖN(OC(y(y;(=N(C(=@(A;(yN=(F?@(;:@(BC(|ÇC(à@(>(
A;(yN=(F?>(@(A@(~>(F@(ÖCA(=;(FÇ@B(=>(Ö>O(ÇN(O@(}C(àCO(>FÇ;E(E(B@P(=@(?;=(}>(ÖCE(
(Ç}(=;J('B(AC(ÖC(BC(z>(?>(
y(Ç;(|Ç;(|?;(zC(=C(O@(ÖN(A;(B;Å(=;(O@(ÇC((Ö@z(=>Ñ(F(9)F:=P(ôsgóJ{(bm(ln(kr(hsmn(òmp(`i(ji(rpgó(mn(dl(vrn(ai(ór(us(mpP(
©rj(ósno(hmn
§(
(Tpm(kipP(Wmp(vrn(QJP(TF)PA)>9b)[F)G9:;)fe)`:)>G9:)=9b)OGF);GAP)P9:;(l(Zlv(jkr(s(niP(Qph(ólp(QJP(
¨YkjJ([@)Ab)J9:;)oAb)J9):@=)A:H)OGF);GAP)P@H)8@)AG):9:;Ç)T)aF)

Í#ï('()!%."5,(N/#)r)#ï('()K("6($5,#
mOl'V9';'ë
"C(|@(B@(àCO(z>(=C(@Ñ(y(=@(yFÇ>(=@(}>=P(:C(
;:(>((ÇCÇ(;A(E;(B;((A@(ÖNJ(%;(:>(FC(=@(yO(A>(Ö@(E(?@(:?(}>(Ç@(y(}z@(=@?(>(OP(y;(|Ç;(FC(;:@L
BC(FÇ>(;(Ç@}(=;(FÇ>(FB;E(;A(E;(B;((=C(@(>AN(D>(}z@(=@?P(:C(;:(>((O@J(%>(y>}(=;(ÖC(@(Ç@(?BC(}z@=(?C(A@(FN(?J(3C(?BC=(~C(
FN(F@(FÇ@(BÅC(=C(Ç@(?;(A@(N}C(=>?(B?(
O;((Ç>(>(=@(y>(F@(Ç>(Ñ(@(A@(Ç@(?@J(*?;(=@(=C(?;(
y>(Ç@(àC(y;(E(@(>(>F(y(Bz@(FÇ>(Ç>(;A(E;(B;(
FB;Ö(;A(E;(B;O(?;(Ö>(ÖC(A@Ç(N(y(Ç>Ñ(yÑ(F>(ÇN(@(~>(Ö@J(5N(AN(D>(A@(FB>(N}C(=>(~>(
Ç@(?B>Ñ(yFÇ>O(yN(ÇCO((ÇÖJ(;:((Ç>(>((Ç>(>FÇC(}z@=L
?CP((?@(OC(N(N}C(=>(~>(O@(:>(DC(F@(O;(N(:(=>(N}C(à@J(-@(àC(Fy;(F;:(=>(N}CL
=>(~>(N}>(DC(AN(GC(B(Ö>(DC(N}>(Ç>(:@?;(FC(;}C(?N(ÖC(A@(
FB>(F@(NFyC(Ñ;O(F@(Bz@(A@(ÖN(y

+"'2"*-,"*/.(0*3%*&.(-'"7'1'2,6.(3"+34'2(6.),4*
uO'c\'SQ'#T'P"'"hVT'P"'fT'&"'&\#'R\'S\'c\'TW'cQ$'^Q'VQ']T'&\'
!$h'!PQ]'&\'WT'P"
Tc\'RT'f\'
¨1,(0.(*"(0,(+"'(2"*- å
(%C?FÇ(N(y;(z@(=;O(y

Í#ï('()!%."5,(N/#)r)#ï('()K("6($5,#
0@(y;(OC(=C{(&C(D>(=@(ÖC(>}(?>Ñ(y(FN(>(?à>(GC(=;(N(OCÇ(=>}(?>Ñ(
ÇC?(FÇ;(B@(N(y(~@(ÖC(O@(=L
?;O ã J(+;(?=(?@(N}C(=>(~>(O;(EN(A@(F@(=@(ÖN(B>(|C(>(:>(;(E(ÖC(
y>(F~@(}>(Ö>(ÖC(ÇC?FÇ(y;(=N(C=(>z>(A@(y(Ç@(ÖN(BC(D>(FO>(FzC(=>(FCE(OC=Ç(>z>(
AC(z;(N(~C(z;(FÇ>(¨@?;(ÖC(?(ÇN(>(O(:;(ÅC((ÉN=?(~>(;(=@z(=>(ÖC(F@(EzC(A@(B@(àC(ÖC(>}(?;E(y=(?;(B>(FN(y;(BC(@(=>(F@(F@Ö(Ç;O(L#)/#)7%)0#)6()1)-*5)í50)'()%')î#)/*5)7%)0#r
6(J(#(;B;O(@(A@Ç(?N(FC(z>=?(=@(z@(>(>F(y;A(y;(z@(=;E(ÇC?(FÇ@P(O@(D(K*()+5)î()"((¢()05),()'(¥J(
&@(G=;(ÖC(Ç@(?;(C(=@(y;(OC(=N(Ç>(A@(y;(ÖC(A>(=>(?;((>(@(A@(~>(N(à>(O@(>O@(ÖN(
:z;(?@(ACP(A@(?zC(y'Ñ>j'mk(3zC(A>(ÖC(A@=(ÖCA(=;(FÇ@(B@=(@(A@(Ç@?(F@(A;(yN(à@(B@L
àCOJ(#}C(=>(~>(ÇF(Ç@?(=N(;F=;B(=C(E}(?C(?@(ÇC(E;((ÖC(?;A(>OC(=>(~@(
¨'Ñ>j' uk( !( ?;(( N( Ç;(OC( A@( N}C(=>(~>(
y;(=;(BC(AC(?z>(=@(~>(ÖN(>OC(=>(~@J('A(OC(=>(~C(Ç(y@(AC(G=C(;:(z>(?C(A@(Ny>(|N(N(A@(ÇC(Ç@(:C(zC(¨/"5$)7#"P(.%)*5J(+(y(=;(;A(E;(B;((Ç@(àCP(ÖC(O>(=>(O@z(=@(E(@(A@(Ç@?(y;(EO(>(=C(
A;(B;(Å@(B@( N}C(=>(?N( y(FÇC(O@(>(AC(?z>(=@(~>(Ö;O(@(A@(Ç>Ñ(>OC(=>(~@P(ÇÖJ((~>(NB>(@(ÖN(?;(z>(?;(>O(ÖC(y;(Ç(|Ç;(FC(=C(BP(NyA(z>=(?;B(=;E(O@(z>(AC(z@(ÇC?(FÇ@(;A(z>(}@=(ÖC(@(y;(BC(>(B@(àC(
F@(?;=(ÇC?(FÇ;O(>z>(AO(;:z@(FÇ>(O@(>(y;(GCÅ(=;(E@(ÖC(y(OC(à>(B@(Ç>(N(y

+"'2"*-,"*/.(0*3%*&.(-'"7'1'2,6.(3"+34'2(6.),4*
3z@ÖA(:'=(Ö>O((~>(;FBC(G@(B@(ÖN(>(y(OC(àN(ÖN(FB;(Ö@(=@(à@(;(?@(ÇC(E;((Ö>((G>(B;£=CL
G>(B;(?;A(>OC(=>(~@J
S96'Ãj'í'ä>':>'Ñ>j'±k'!@Ç(ÖC(y;(z@(=>(ÇC?FÇ(>(?;E(Ç(AB;(Ö>(Ç>(FBC(
Bz@(FÇ>(ÇC(>OC(=>(~C(?;(ÖC(;=@(}@(B@(ÖN(>OC(=@(EC(;(EÑ(y;Ö(O;(B@J(%C(FÇ>((
y(~>(y;(B(Ç@(ÖN(ÇC?FÇ(@(A@Ç(?@P(ÇC(>O(FC(
AC(|@(B@(z;(A@(N(;B;(OC(@(A@Ç(?N(E(AB;(ÖC(>(Bz@(FÇ>(ÇN(>OC(=>(~N(
ÿ-()/5),#N(?;(Ö@(=C(O@(=@(}C(àC(EC(;(E(B>(|C(;(:>(;(E(Ö>(y>(F~@(?@;(>(BC(D>(AC;(;A(z;O(?@(?;(Ö>(ÖC(
?;((|DC=(N(@(A@Ç(?NJ(¨3z@ÖA(:'Ñ>j'k'6;|(ÖC(A@=(@(A@(Ç@?(F@(A;(yN(à@(B@(àCOJ('=((y;AL
FC(D@(N}C(=>(?C(=@(=@(>(BC(yz@(=C(Ç@(3N=(}C(B;E(F>(FÇC(O@P(?;(ÖC(FCP(=@((|N(
BC(z>(?>O(y;(}CÇ(=>O(Fz;(B;OP(>(N(E(~>(FC(;=@(}@(B@(ÖN(?@;(Bz@(FÇ>(ÇC(>OC(=>L
~CJ(+;(GCÅ(=;(ÖCP((FÇ>(~@(à@(|>(Ñ(=@(à@(y(Ç>(>(=;(B>(=C(N(y(O(
>z>(AO(=@(N(?@(O@(>(NE(B@(Ç>(>Ñ(N(=@(FÇ@B(=;(E(B;J("C(|@(B@(ÖN(D>(
;B@Ö(@(A@(Ç@?(FB@(?>(N}C(=>?(?;(Ö>(:N(AC(=@(BC;(yz@(=C(ÇN(!*4).5'(?@;(FB;Ö(;A(E;(B;(DC(>=(É;(ÖN(A@(ÖC(@(A@(Ç@?(=C(Ç@(}@=P(ÖC}(=@(=@(N}(=@(;A(zN(?@P(A@(!*4).5'(=>(ÖC(yz@(=C(Ç@J((
åHK

Í#ï('()!%."5,(N/#)r)#ï('()K("6($5,#
'
3z@ÖA(:':>'Ñ>j'k')@Ñ(ÇC(B>(N(;?B>((F@(>z>(;:(Ö@(|àC(à@(FO>(Fz>(;A(E;(B@(}(?@(>OC(=>(~@J
0y}(?C(>OC(=>(~C((,#)5'P(?;(ÖN(Ç(=@(y>(F@(Ç>(N(y(C(=N(:C(z>(=N(=@(;F=;(BN(=@(}C(à@(?;(Ö@(FN(>F(Ç@?(=N(Ç@(N(B>(AN(
FzC(AC(D>Ñ(?;=(?Ñ((~@{(ó,()/#)*%).#)#)7"%),5)2#)74.)'#)/%)#).%)"%.s)5)õ%)
0()í4)0%)í5")í%)'#l),56)'#s)!5)/"%)%)+()$5).5")m#*#),#)M%)$5).5)"(ns(¨3z@ÖA(:':>'=(~C(N(
!N(}>(DC(B>O(FÇ>(Ñ;(B>(O@P(?@;(|Ç;(FC(Ç;(B>(A>(=@(Fz@Ö(AN(:D(
").,5)$5)"%¥(?@;(O;(END(=;FÇ(y;(BC(>(B@(à@(ÖC(>}(?;E(y'Ñ>j'llk'#(;B;O(?;((~>(;:(=@(BÅ@(ÖN(FB;(Ö@(=@L
à@(;(B(@y(FÇÑ(>z>(O>(F@(;(=>Ñ(>OC(=>(~@(>(@(A@(Ç@?(>O(ÖC(A@(>()O@L
åHH

+"'2"*-,"*/.(0*3%*&.(-'"7'1'2,6.(3"+34'2(6.),4*
ÖC(B>Ñ(FÇ>(Ñ;(B@(y(>(AB;(ÖC(FBC(@y(FÇOC(=>(~CJ(+;(=N(C=(>O(ÖC(
z>=?(?@(L#)/#)7%)0#)6#)1)-*5)í50)'56)%')î#)/*5)7%)0#)6#Ç(6J(6;(B@(=;(B>D()O@Ö(¯4)*#)#¥J(
¨3z@ÖA(:'Ñ>j'lmk'4;=(?(;(B@=(ÖC(Ö;|(ÖC(A@=(@(A@(Ç@?(N(BC(>(F@(
@y(FÇO(>OC(=>(~@(O@J(#(àC(ON(Ç(@(A@(Ç;E(=>(@(>OC(=>(~@(>(AB;(Ö>(Ç>(
;=C(?;(ÖC(FN(@y(FÇ'=(~>(ÇC(GC(
NFB@(Ö@(ÖN(@y(FÇOC(=>(~CP(?((N}C(=>(~>(
Fy;(=@(z>(|Ç@(;=C(FBC(O;(EN(A@(;=@(}@(B@(ÖNP(>(A@((?N(ÖNP(A@(z>(ÖC(N(y>(Ç@(àN(
=C(?@(>AC(Ö@P(;FC(D@(àC(>z>('=(Ç(A@(>OC(=N(ÖN(@y(FÇOC(=>(~C(=@(;F=;(BN(AC(É>(=>(F@(à@(à>(Ñ;(B>Ñ(=@(}C(à@J(0y

Í#ï('()!%."5,(N/#)r)#ï('()K("6($5,#
3z@ÖA(:

+"'2"*-,"*/.(0*3%*&.(-'"7'1'2,6.(3"+34'2(6.),4*
!6:'ëj'í'ä>':>'Ñ>j'lk'#(;B;O(?;((~@J(#(=@((N}C(=>(~>(Ç(>(AB;(ÖC(FBC(Ez@(E;zL
F?C(>OC(=>(~CJ(%C(FÇ>((y(O@P(N;}>(zC(FO;(A@(;=>(y(Ez@(E;z(F?N(>OC(=>(~N(>(=@(Fz;(B@(yC(FOCJ((¨3z@ÖA(:'Ñ>j'lk''A(=@(BC(AC(=>Ñ(Ez@(E;(z@(y;(Ç(=>(Ç>(
Ez@(E;z(F?C(>OC(=>(~CJ(
Qåëj'í'ä>':>'Ñ>j'lk'#(;FO;O(?;(O(>OC(=>(~@(O@J(0@Ö(y(AB;(ÖC(>(AB@(y;(=N(C(=@(=>(@((~@(N(?;(Ö>(O@(ÖC(>(O@(z@(@O(?@P(ÖC(N(?;(ÖCO(ÖC(N(FB@(?;Ö((~>(:>OC(=>(~@J
Qåëj'í'ä>':>'Ñ>j'mk'#}C(=>(~>(F@(O>(ÇB;(OC(=>(~C(;A(y;L
=N(C(=>Ñ(y(OC(':>'Ñ>j'mlk'':(=@(BÅ@(FC(E(B;(;(B(EB(=>Ñ(>OCL
=>(~@J(#}C(=>(~>((FC(F@(FÇ;(Ö>(N(Ç;(OC(A@(FC(;y>L
|C(?@(?;(FC(y(:C(Ç;=J()@(àC(E;(B;(y((>O@(ÖN(=@(}C(àC(EB(=>Ñ(>OC(=>(~@(¨|ÅN(=@?P(yC(F@?P(~C(OC=ÇP(B;(A@JJJJ
åHå

Í#ï('()!%."5,(N/#)r)#ï('()K("6($5,#
#6'Ü6'Ñj'í'ä>':>'=OC(=>(~CJ(#(@(A@Ç(?N(HHJ(;A(y;(=N(C(=>Ñ(?N(Ñ>à(F?>Ñ(>OC(=>(~@¥(Ç(Ç>(;=C(?;(ÖC(=>(FN(EB(=CP(@(N(HçJ(@(A@Ç(?N(y;(Ç(Ç>(>(
;A(E;(B;((Ç>(=@(y>(Ç@(àC(A@(z>(FN(=@(>(B>(FB>Ñ(OC(Ç@(z@(EB(=C(>OC(=>(~CJ
#6'å6'Ñj'í'ä>':>'Ñ>j'múk'Ü>Å(;B;E(?;((:(=>(>(O=;(G>(=>(>OC(=>(~@(>(y;A(FC(D@(àC(=@(>OCL
=>(~C(zB@'Ko'BJo'Gop'G@E(?;(ÖC(;:(z>(?;O(O=;(G>(=C(;=@(}@(B@(ÖN(ÖC(A@=(y;(Ö@OJ((
#6'å6'Ñj'í'ä>':>'=(@(O@(z;(B>(|C((|Å@(à@J(#((~@(O@(N}C(=>(~>(Ç(OCP(@(@(Ç>O(A@(OC(N(
à>(O@(>(AB;(ÖC(;=@Ö(?;(Ö>(ÖC((zB@'Ko'BJo'Gop'G@EJ(#(yF(y(@(A@(Ç@?P((N}C(=>(~>(O;((?;O(}>(Ç@(à@((~CJ(
h9ç'=6';>'96'ä8ã'Ñ>'Ñ>k'+?(y(N?Ny(=;E(B(z;(y;(Ç(;:(=@(BÅ@(àC(;F=;B(=>Ñ(=@(à@(;(>OC(=>(~@(O@(N(F(?NJ
VT'S\'$"'Se'$"
5@(?;(BÅCBP(->(z@=(¨KIâK(!"#)*5+)('()*#)2#).%)5)"#6)-/#µ)5-'5),()7"5)+"()$#)"()'%)'()-.(),%P(
,=(FÇ>(ÇNÇ(r(yC(A@(E;(|?@(>F(Ç(B@(à@P(5C(;(EDP(+@(BzC(¨HMMã(ó"7)-/#)6%)2#/)#)/&#)õ%,)'5-.)4)'()-.(,)'56).%)5)"#)6#)#)7"(/)-#l()O@ÖP(
0;(B>(3@AJ
ei(pm(viP(^J(Zïjr(loóh(8(Tpr(pin(giP(ôJ(©sî(îs(rvj(¨KIãç(T;F)BGF);GAP)P@H)9:)=>G9F:l(
Tmî(îi(oi(mò(Ykl(gr(hsmnP(\ns(uip(jshï(mò(`mg(ói(jhipP(Wi(†mpè(8(Zmn(kmnJ((
4z@Ö=P(,B@=(¨HMMå(ô"()$().#)/()-"7)-/5+)6%)2#)/(P()@(B;A(@(NÔ(:C(=>(?C(>(=@(FÇ@B(=@(FDP(&z@(A>(O>(3@AJ
+C(ÇP(Ä>(Å@(=@(¨HMMä(%).5)0#N)/()#-)."()õ#),()&()4)'()-.(),#)-"7)-/5+)6%)2#)/()#)
/&#)õ%,)'5)-.#P(7>(z;(;É(F?>(É@(?Nz(ÇCÇP(0;(B>(3@AJ
Rèsn(nipP(aJ(bJ(¨KIãM([@)Ab)J9:;)oAb)J9):@)A:H)OGF);GAP)P@H)8@)AG):9:;P(XQ(cUP(©rj(ósno(hmnJ
åHã

+"'2"*-,"*/.(0*3%*&.(-'"7'1'2,6.(3"+34'2(6.),4*
3Ç@(=;Ö(}>DP(ØJ(8(ÄJ(+;(y;(B>D(¨KIIâ(ô"()$().#)/()-"7)-/5+)6%)2#)/(P()@(B;A(@(NÔ(:C(=>(?C(>(
=@(FÇ@B(=@(F(Ñ@Ö(z;(¨HMM§(ô"()$().#)/()-"7)-/5+)6%)2#)/()2()-"%0)&%)M/5)*%P(+}(?>(N=>L
BC(ÇCÇP(5C(;(E9b) [FG9:;) fe) `:>G9:=9b) OGF;GAPP9:;l( WYQP(
©rjósnohmnJ
Bz;;ÉF?>(É@?NzÇCÇ
iLvrsî{(ñihpmurgèsÀnjgrwîiJnih((((
->Å@=@(5@D
#=>BCÇCÇ(N(0;B;O(3@ANP(3Ö@
7>z;;ÉF?>(É@?NzÇCÇ
iLvrsî{(vsîìrnräçÀïrómmJgmv(
åHâ

åHä

cU
4/,Ø.&0'3%(,(+".&'9./.
ZUVV_`QV\`Y(YV(V`QX\TVUSW
ZUVY`QV\`Y((QWX(V`QWRZQVUW[
åHI

åçM

;>7H7#aF8;?.V7FHD>;?#.#CD8;O7#a=8`D>;?#;?
X*-XZ'4'a3-[Z.4k''
0*a13*Xû-'/ZY1Z{4,)43XZ`'{ZX)-{/)*''
4'X*/)*[1'{Xû1ó-[XZ/)1'1'a3-[Z-Xû*
\( pr(kl( ìi( rnr(îs(s(pr(nr( ñps(vi(nr( jr(nr(nìr( s( jhl(ks(ìr( èlî(hl(pi( l( mèus(pl( s(l(êr(ur(nìr( jhpr(nmo(
ìi(s(èr( s( ènìs(ëiu(nm(jhsJ( üm(îs(èm( ìi( hrì( jñmì( ñîm(km(hum(prnP( nim(ñ(óm(krnP( s( ( ni(r(m(ws(îr(rnP( mwL
ìr(énìi(nm(ìi(nr(ñps(vi(pl(ñi(kr(om(éèi(ñprè(ji(èm(ìr(ji(jñpm(um(ks(nr(Sk(ji(èl(r(rn(oîs(jhs(èl(bsL
îm(mò(jèmo(òr(èlî(hi(hr(l(Wm(umv(Rr(klP(nr(èm(vi(ìi(KIIãJ(om(ks(ni(lui(kin(ñpik(vih(ôm(kipn(
aps(hrsn(¨Rr(upi(vi(nr(aps(hr(ns(ìr(èm(ìs(r(ìik(nm(j(ñpik(vi(hmv(aps(hrn(jèr(sjhm(ps(ìr(s(èlî(hl(pr(ês(ns(
mèm(jns(gl(lñm(nr(ur(nìr(jr(jm(gs(m(èlî(hl(psv(èmn(hiè(jhmv(èm(ìs(ìi(jhl(kin(hs(vr(nim(ñ(óm(krn(kr(ws(
vm(oîs(kr(ñps(jhl(ñi(gi(îm(us(hs(ìiv(s(l(êr(ur(nìl(ènìs(ëiu(nm(jhsP(ìi(sê(èi(ñprè(jiP(èrm(s(ñpi(um(⁄i(nìl(j(
in(oîi(jèmo(ìi(s(èrJ(^m(nr(ur(nìi(jr(upi(vi(nmo(hpi(nlh(èr(ìik(nmo(kpl(éhur(s(nìi(om(umo(sjhm(psì(jèmo(
èmn(hiè(jhr(mvm(ol(ír(ur(ñmh(ñl(ns(ìi(jóur(hr(nìi(pr(nm(pmk(nsó(iîi(vi(nr(hr(èm(ìs(ji(vm(ol(ñpm(nr(ís(l(
pr(îs(ês(hsv(up(jhr(vr(hiè(jhm(ur(s(ksj(èlp(jr(èm(ìs(ji(nr(hm(kpl(éhum(mk(nm(jiæ(jr(vsv(hsvP(jvr(nìl(ìi(
ji(vm(olí(nmjh(opi(éèi(ñps(îs(èmv(hl(vr(êi(nìr(sîs(ñpi(um(⁄i(nìrJ(Rhl(ks(ìi(èlî(hl(pi(l(s(l(êr(ur(nìl(jhprL
nmo(ìi(s(èr(s(ènìs(ëiu(nm(jhs(svr(ìl(iòi(èrh(jum(ìi(up(jni(îl(ñi(ñmk(èm(ìmv(vnm(oi(ñm(ìr(uiP(jhur(ps(s(
îsê(nm(jhs(s(l(êr(ur(m(gl(ñm(jhr(ìl(ìr(jns(ìi(s(ñîr(jhsê(ns(ìiP(s(ñm(vm(íl(èm(ìsó(ji(lñmh(ñl(nìl(ìi(s(lmw(îs(êr(ur(
nìs(ómu(jvs(jrmJ
YCE

`QA:A)Û

WQ´YWS(\(^`YcSX\{(ôQ^U`QWeY(RSTUSü\ZV\`WS[(üSWVYüRVQ(\(JJJ
hr(èm(èr(èm(jhm(ìiJ(ülî(hlp(ni(jhl(ks(ìiP(ñrèP(vnm(om(us(éi(mnr(êr(ur(ìl(ñpm(gij(s(èr(l(r(îs(hih(
l(hmv(ñpm(gi(jlP(ni(l(hm(îs(èmì(vi(ps(jup(éi(nmjhJ(
^pik(vi(hr(Rr(upi(vi(nr(aps(hr(ns(ìr(wsm(ìi(up(jhr(èmv(ñpm(vs(jrP(km(nm(jsm(ìi(èmv(ws(nrL
gs(ìl(nim(ñ(ómk(nsó(mjnmu(nsó(ês(nìi(ns(gr(m(jr(upi(vi(nmv(wps(hrn(jèmv(kpl(éhulP(nìi(omL
usv(nrì(ur(ënsv(sn(jhs(hl(gs(ìr(vr(¨ñm(îs(hsê(èm(lpi(⁄i(nìiP(jlk(jhumP(mwpr(m(ur(nìiP(pi(îs(os(ìrP(
vi(ks(ìsP(ñps(urh(ns(ës(umh(s(jusó(mnsó(èlî(hlp(nsó(s(jlñ(èlî(hlp(nsó(hm(èm(ur(èm(ìs(jl(ñpm(s(umk(
upi(vi(nr(s(èm(ìs(jum(ìi(vi(jhm(nr(îr(i(l(ènìs(ëiu(nm(jhs(s(lvih(nm(jhs(lmñ(éhiJ(
Xr(ws(jvm(lñmh(ñl(ns(îs(s(r(m(èpl(ës(îs(ñpik(vih(s(l(êr(ur(nìr(nr(ìi(krn(r(nrj(ñps(vi(piL
ns(ìs(nr(êsnP(pi(éi(nìi(ìi(ki(îs(vsê(nm(ñpm(nr(⁄i(nmP(èrm(éhm(ìi(uií(ñm(vi(nl(hmP(l(vi(⁄l(ñpmL
jhm(ps(vr(èm(ìs(ês(ni(èlî(hlp(ni(jhl(ks(ìi(èrm(mwîrjhP(r(èm(ìs(jl(l(nr(éiv(jîl(êr(ìl(ws(îs(lmêi(ns(
èrm(ènìs(ëiu(nmjh(s(ñpi(um(⁄i(nìiJ
R(mw(s(pmv(nr(hm(kr(ji(jhl(ks(ìi(èlî(hl(pi(mjîr(nìr(ìl(nr(rn(hpm(ñm(îm(os(ìlP(jm(gs(m(îm(os(ìlP(
pmk(ni(jhl(ks(ìiP(ènìs(ëiu(nl(èps(hs(èlP(sjhm(ps(ìlP(ñjs(óm(r(nr(îs(l(s(vnm(oi(kpl(oi(opr(niP(ìr(jnm(
ìi(nr(èm(ìs(nr(êsn(mni(r(ènìs(ëiu(nmjh(¨s(ènìs(ëiu(nm(ñpi(um(⁄i(nìi(ñpik(jhr(uîìr(ìl(s(ump(
èmn(hiè(jhr(ki(îrJ(Viè(èr(kr(ji(ìik(nr(vr(hi(ps(ìr(jr(oîi(kr(s(hm(îs(èm(¨éhm(us(éi(pr(îs(ês(hsó(
ñip(jñiè(hs(urP(vm(ol(íi(ìi(nr(ñpr(us(hs(ñpr(ul(ñps(ñpi(vl(èr(èm(r(ñpi(um(⁄i(nìi(hr(èm(s(r(
iuin(hl(rî(nm(mps(os(nrî(nm£jr(vm(jhrî(nm(ês(hr(nìi(ki(îrJ(
lOuO'{pôJ'òAn'pFDG'J'zKA'nF'ÕA'pôA'J|'@xBo'}@B'G@K'pJt'DG@'HJ'ôo
ür(èm(hm(s(oîi(kr(l(ñprè(js¬(^s(jgs(¢U¢(ui(èr(jl(luiè(r(óur(îrn(ñps(vip(ìip(jl(nìsL
óm(us(pm(vr(ns(l(nrì(ui(ímì(vi(ps(kpl(éhui(ns(ñm(jum(ìmì(hi(vr(hs(gs{(Xs(èinjP(Xëmpkë(Yîs(mhP(
drp(ksP(km(ni(èîi(s(Vi(èi(psP(jus(jl(svr(îs(ñm(hpi(wl(kr(èpm(jum(ìi(ñr(nm(pr(vi(in(oîi(jèsó(
opr(km(ur(s(ji(îr(ñpm(ul(èl(ìr(êl(sîs(jîr(ws(ìl(nm(hl(jm(gs(ìrî(ni(èpsh(èi(èm(ìr(luiè(ski(nr(pr(êln(
ni(èi(èmn(èpih(ni(sn(jhs(hl(gs(ìi(hm(or(km(wrP(sîs(vin(hr(îs(hi(hr(nr(èm(ìs(ìi(ni(èr(mk(nìsó(lhs(grL
îrJ(Xs(èin(jmu(ZC9)Q@G)[Q9=>)¨j(mw(s(pmv(nr(hm(kr(jñr(kr(l(ki(îr(j(èm(ìs(vr(jl(jhl(kin(hs(
lñm(nr(hs(s(ñpi(jhl(ks(ìr((km(wrp(ìi(ñps(vip(hm(or(l(èm(ìmì(vi(ps(ji(ñpih(ómk(nr(jr(nr(nìr(
s(ñps(ñpi(vr(mk(pr(ër(ur(ìl(nr(pr(l(vi(ur(nìi(pm(vr(nrJ(Vl(ënr(ñps(êr(m(js(pm(êi(hl(s(jui(hl(l(
èm(vi(km(wpm(sñrèP(nr(èpr(ìlP(ñm(wi(ksP(ñm(jhr(ìi(kl(wîìi(s(ns(ìrn(js(pr(nr(ñpik(jhr(ur(m(jmL
gs(ìrî(nmì(ni(ñpru(ks(s(m(jr(jusv(èmn(èpih(nmì(sn(jhs(hl(gs(ìs(L(gFGR)JF)

`QA:A)ÛA)):9r
RA)9P(ñs(éêiu(ñpm(hs(ul(pi(êrn)mk(nmj(îìl(wr(us(s(vp(ënìi(ñpi(vr(pmk(nmv(opr(klP(
ui(îs(èsv(ìi(ki(îmv(ñm(jîi(ks(gr(jl(éhsn(jèi(ñpm(hs(ul(piê(nm(jhs(Xr(wîs(nr(s(hmo(upi(vi(nr{(j(
ìik(ni(jhpr(niP(ìmé(ji(l(nìi(vl(mu(kiLmn(ki(us(kim(jìrì(ni(okr(nìi(ui(îs(èi(ñpi(jhm(ns(giP(kmè(
or(ìi(j(kpl(oi(ñps(hs(jèr(îr(wi(kr(èm(ìr(ji(moîi(kr(îr(us(éi(s(ìr(êi(nm(soki(kpl(oki(l(hr(kr(
nr(ñr(íi(nmì(Up(jèmìJ(Rl(èmw(èm(ìs(ñm(jhm(ìs(l(îs(èl(Rhs(ui(nr(Xi(kr(îl(jr(jr(vm(ìi(ki(îs(vsê(nm(
pr(l(vîìsu(wi(nim(ñ(ómk(nmo(èmn(hiè(jhr(èm(ìs(ìi(jr(vm(l(mèus(pl(ènìs(ëiu(nmo(ñpik(vi(hr(
up(îm(hi(éèm(l(ñmh(ñl(nm(jhs(s(ni(hsJ(õr(ñps(vi(pi(ni(vm(pr(vm(sís(kr(îìi(mk(nrì(nr(êrì(ns(ìsó(
ki(îr{(Zmn(kmn(cJ(clîòP(l(pm(vr(nl(jF)=BF)†A)^A)CF)Q@EP(s(jrv(ñpik(jhr(uîìr(îsè(l(èr(hi(omL
ps(ìs(nr(jîmu(ni(ìl(nr(ès(nìiJ(^pi(s(jñs(hs(ur(nìi(üîr(ps(js(nmo(skin(hs(hi(hr(s(ñpi(s(jñs(hs(ur(nìi(skinL
hs(hi(hr(jhr(nmu(ns(èr(Zmn(km(nr(s(in(oîi(jèmo(kpl(éhur(lmñ(éhiP(ñm(jîi(mopmv(nmo(ñm(hpi(jr(
^p(umo(juih(jèmo(pr(hrP(kui(jl(jnr(ënm(ñpi(ñîi(hi(ni(ns(hs(èm(ìi(ês(hr(m(gs(vr(pr(jui(hîìr(ur(ìl(hm(
jhr(nìi(ñm(îìl(îìr(ni(ui(piP(s(ol(wîìi(nmo(mñ(hs(vs(vr(s(jui(mñ(éhi(lñs(hr(nm(jhs(nrk(ës(um(hmvJ(
Wr(pru(nmP(ñmk(ljîm(umv(kr(ìi(jm(gs(m(èlî(hlp(ns(èmn(hièjh(¨s(jui(mnm(éhm(s(nìi(or(ñpm(sL
s(îr(s(pré(êîr(nìin(s(mw(ìr(énìinJ
mO'1.-X')1')-')1'4'{ZX')-{'/)4
mOlO'/G@'HJ'ôA'yKJ'Gop'D}A'J'oEA'KJö'}A'}@B'G@'KA''
@'J|'@'öo'no'pô@'Do'nKA'EA'pJt'}pôJ'òAn'pF'DGJ
\(ènìs(ëiu(nm(jhs(kpl(oi(ñm(îm(us(ni(¢¢(ui(èrP(j(ñm(ìr(umv(pr(nm(pmk(nsó(oîr(jm(ur(l(
in(oîi(jèmì(ñpm(sP(ñm(hpi(wr(r(nr(îr(s(vr¥(jhl(ks(ìr(èlî(hl(pi(èm(ìs(íi(ñpl(ës(hs(mw(ìr(énìiL
nìi(r(mopm(vrn(wpmì(nm(um(nr(jhr(îsó(èmn(gi(ñr(hr(ìi(s(pr(s(hm(lmê(îìs(urJ(eipP(rèm(jvm(
urnè(nìs(ëiu(nr(pr(ìr(énìi(nìr(r(ni(èi(rjñiè(hi(ki(îr(s(pr(ns(ìsó(ñi(ps(m(kr(km(ës(uîìr(ur(îs(èrm(
ni(éhm(éhm(ji(km(or(⁄r(îm(l(r(nrj(sñrè(kr(îi(èmì(ñpm(éîm(jhsP(jr(upi(vi(nmjh(s(jsn(ópm(ns(gsL
hih(ñm(êi(îs(jl(kr(nr(vi(íl(ñm(hpi(wl(kr(ji(wl(ki(l(hm(èl(j(ñpm(gi(js(vr(jur(èm(kniu(nsó(s(
wp(só(ñpm(vi(nrP(jr(èlî(hlp(nsv(s(jlñ(èlî(hlp(nsv(òi(nm(vi(ns(vrP(jhs(îm(us(vr(ës(um(hr(s(oprL
⁄i(nìr(skin(hs(hi(hrJ(Sîrè(ér(ur(ìl(íl(mèmî(nmjh(mk(pr(nsó(ki(ui(ki(jhsó(nr(m(ur(vm(ñpik(jhrL
uîìr(jui(èur(îs(hih(ns(ìr(ji(èln(krp(nr(îs(hi(pr(hl(pr(èm(ìr(mhum(pi(nm(ñpm(om(ur(pr(m(ñpm(wîi(vs(vr(
ñps(îs(èmv(ñpik(jhr(uîìr(nìr(svr(os(nr(hsu(nmo(mwpr(jgr(èm(ìs(mk(pr(ër(ur(wps(hrn(jès(skin(hs(hih(
¨ômp(îs(s(`m(wsnj{çM§J(õr(ñpr(umP(kl(or(ñps(êr(vm(ëiP(om(hm(um(rnio(kmh(jèsP(kr(ji(jui(ki(
åç§

WQ´YWS(\(^`YcSX\{(ôQ^U`QWeY(RSTUSü\ZV\`WS[(üSWVYüRVQ(\(JJJ
nr(pr(vs(éîìr(nìi(Rhl(ìrp(hr(dm(îr(m(ém(îìs(gs(êr(ìrP(èm(ìi(mn(s(nm(js(l(hiè(jhl(Rhr(ps(s(nm(us(
skin(hs(hi(hsP(jhr(ps(s(nm(us(ih(ns(gs(hi(hs¥{(
rìP(nr(hiP(ni(pr(jhi(l(Zrn(èr(és(plJ(Ws(ìik(nr(ñîrn(hr(ër(êr(ìr(ni(ñm(jhm(ìs(l(\ìi(ksL
nìi(nmv(üpr(îìiu(jhulJJJ(Sh(èl(kr(jhs(ëi¬(R(Tiì(îm(nrLöps(Zrn(èiP(Un(ks(ìiJ(Vm(ìi(jñm(îìr(énìr(
sjhm(ps(ìr(èm(ìr(ìi(lnl(hrp(in(oîi(jèi(sjhm(ps(ìiJ(Wi(vr(in(oîi(jèi(sjhm(ps(ìi(wi(hi(kpl(oi(sjhm(psL
ìiJJJ(Zìl(ks(ñm(ñlh(vi(ni(èm(ìs(jl(km(éîs(l(Yn(oîi(jèl(hm(èmv(ñi(ki(ji(hsó(¨jr(ôr(îsó(Qn(hs(îr(
ws(îs(jl(hl(ui(èm(us(vræ(jsv(wm(îsê(nmP(vs(jvm(ws(îs(hl(ui(èm(us(vrJJJ(ìr(jrv(éi(íip(nr(knl(
in(oîi(jèi(ém(îìi(êr(ìrJ(er(jrv(jèîm(nmjh(ñpi(vr(jîrh(ès(és(vrP(ñîrn(hr(ëi(éi(íi(pr(èm(ìi(jl(oiL
ni(pr(gs(ìr(vr(in(oîi(jèi(ki(gi(èur(ps(îi(l(wiJ(Uvr(nr(ós(îìr(ki(kpl(osóJJJ((èm(ìs(jlJJJ((jr(vr(hr(
ém(îìr(êr(ìrJ(¨(UG9)>A:)=R@)=>

åçã
`QA:A)ÛJ@)UCAbR)hFHl)ZG)H@G)Fi)>J@)jAG)>@G(sîs(>J@)aB@)A)R@GP(ñm(jrm(èm(ìs(hpi(wr(kr(mwr(us(ñpi(
jr(vmo(ñpi(um(⁄i(nìr(ws(íi(mopm(vrnJ(\(mèus(pl(Rr(upi(vi(ni(aps(hr(ns(ìi(jhl(kin(hs(kpl(oi(
om(ks(ni(jhs(êl(jr(nr(nìr(m(èîìlê(nsv(sn(jhs(hl(gs(ìr(vr(wps(hrn(jèmo(kpl(éhur(sP(rèm(ns(éhr(kplL
omP(l(jhr(nìl(jl(kr(îrè(éi(mk(pi(ki(mwîrjh(èm(ìr(íi(só(km(ui(jhs(km(mk(pi(⁄i(nsó(ñpi(umk(nsó(
pi(éi(nìrP(èrm(s(hm(or(èm(ìs(jl(pi(òi(pinh(ns(s(um(ps(ñm(vm(íl(èm(ìsó(íi(km(nìsó(km(ísJ(
^ps(vi(pr(ìi(wi(wpmìJ(Qvi(psê(èi(jhl(ks(ìi(mhur(pr(ìl(sjhl(ñps(êl(r(mnrì(kpl(os(kim(nrL
ésó(rn(oîm(òm(nsó(sn(hi(pi(jm(ur(nìrJ((`i(gs(vmP(s(pr(s(r(ni(èi(ñm(ìr(ui(s(jhr(ps(ìi(rvi(psê(èi(
sjhm(ps(ìi(vm(oîs(ws(km(ui(jhs(km(ni(jñm(pr(l(vr(rèm(ñpi(um(ks(îrg(ni(lmês(nìs(óm(ul(jñi(gsL
ûê(nmjhJ(Wr(ñps(vip{
L( U(pr(fF)F)=>@GP(èm(ìs(ji(mk(nm(jsm(nr(mjm(wi(èm(ìi(jl(svr(îi(ur(ënl(lîm(ol(l(mjnsL
ur(nìl(nm(usó(nr(ji(m(ws(nr(l(rvi(psê(èmì(ks(uîìs(ns(wmo(hm(or(éhm(jl(ñpm(vm(us(jr(îs(
ñpik(nm(jhs(ës(um(hr(nr(mk(pi(⁄i(nmv(vi(jhlP(up(îm(ws(îr(èm(vm(orm(kr(ji(ñpi(hum(ps(
l(wl(jhi(pr¥(r(jui(s(jur(éhr(¨gòJ(Rsn(gîr(sp(Zi(sjP(UAf)f9>>P(KIHH
L( oA):9)i@=>)^@)=>9:eP(kmè(hps(nr(m(ñpik(m(kpi(⁄i(nm(jhs(rvi(psê(èmo(nr(pm(kr(kr(nrL
ñpi(kl(ìi(s(ñpm(ks(pi(nr(r(ñrkP(svr(îr(ìi(jumì(ni(jpií(ns(ñpi(umk(ns(ièus(ur(îinh(l(
s(pr(l(PA):9)i@=>)=9)>eG@l)EA)R@sss
U(ñm(pik(èur(îs(hih(nsó(piê(ns(èrP(ñm(hi(éèm(íi(èm(ìi(ji(vm(ol(ìr(us(hs(ñps(îs(èmv(ñpi(um(⁄iL
nìr(hiè(jhm(ur(l(èm(ìs(vr(ji(ñm(ìr(uîìl(ìl(s(pr(s(s(ñpr(um(jlk(nmo(js(jhi(vrP(mwpr(m(ur(nìrP(
vi(ks(ìrP(pi(îs(os(ìi(sîs(èlî(hl(pi(ki(îs(vsê(nmP(sîs(l(ui(ímì(vi(psP(r(s(jhr(ws(ur(ìl(mh(èîm(nìi(ni(
ñpih(ómk(nsv(jr(nr(nìs(vr(èm(ìr(ji(jhs(êlP(r(ui(îs(ès(kim(mnm(éhm(ji(mw(pr(⁄l(ìi(l(mèus(pl(
ènìs(ëiu(nsó(èlp(ji(urP(sîs(mnm(or(éhm(ji(ñm(ìr(uîìl(ìi(l(hiè(jhm(us(vr(r(ñpi(umkP(l(mèus(pl(
wps(hrn(jèsó(s(rvi(psê(èsó(jhl(ks(ìr(èlî(hl(piP(nr(ñpik(vi(hs(vr(Rr(upi(vi(nr(aps(hr(ns(ìrP(apsL
hrn(jèr(sjhm(ps(ìr(s(èlî(hl(prP(Qvi(psê(èr(sjhm(ps(ìr(s(èlî(hl(prP(hi(Rr(upi(vi(nr(Qvi(ps(èr(nr(
nr(éiv(Sk(ji(èlJ(

WQ´YWS(\(^`YcSX\{(ôQ^U`QWeY(RSTUSü\ZV\`WS[(üSWVYüRVQ(\(JJJ
Xr(èîiP(èr(kr(ji(èmn(giñ(hl(b

`QA:A)Û9F:=Ç)cA>9F:=)A:H)a9;:9ie9:;)OGAb>9b@=J(
Zmnkmn{(Rroi(^lwîsjósno(ZhkJ
ômpîsP(XJP(`mwsnjP(üJ¨HMMçJ(UG9>A:=R@)=>;?#.#CD8;O7#a=8`D>;?#;?
bS\WX(UW(V`QWRZQVUSW{(VdY(ôQ^^UW[(Sb(RSTUSLT\ZV\`QZ(TSWVY¢V(
UW(ZUVY`QV\`Y(QWX(V`QWRZQVUSW(TS\`RYR(QV(\WUcY`RUV†(ZYcYZ
åçä
a

7H7#;>7H:=I;?#
aZ3-.+-'4'{Xû1ó-[X10')-{/)Z[10*'X*'
-X`,-/{Z0'û-§1{4Œ
Uj(hpr(ës(ur(nìi(èm(ìi(íi(ws(hs(ñps(èr(r(nm(l(mumv(pr(kl(ñpik(jhr(uîìr(rnr(îs(l(ñm(pik(ws(l(ènìs(ëiu(nsv(
hiè(jhm(us(vr(nr(in(oîi(jèmv(ìi(s(èlP(ñps(êi(vl(ìi(èmp(ñlj(jr(jhr(uîìin(mk(ñps(vi(pr(s(jr(upi(vi(ni(
wps(hrn(jèi(ènìs(ëiu(nm(jhsJ(^m(pik(wi(ji(l(in(oîi(jèmv(ìi(s(èl(ìr(uîìr(ìl(l(kui(jhplè(hl(piP(mk(nm(jnm(
jr(ñm(pik(wi(nsv(pi(ês(vr(frjf(s(fîs(èifP(èrm(l(ñps(vi(ps(vr)A=)BA)>9)@:>)A=)A)fG9bR(s(>F)=BG@AH)C9)R@)
g9CH){)G@J(R(mw(s(pmv(nr(hm(kr(ji(ñm(pik(wr(pih(èm(ìr(uîìr(jr(vm(jhrî(nm(èrm(ñpik(vih(ñpm(l(êr(urL
nìrP(uií(loîru(nmv(l(mèus(pl(pr(km(ur(m(vi(hr(òm(ps(sîs(sks(m(vs(vrP(ñmk(plê(ìi(ñm(pik(wi(ìmé(luiè(ìi(
ni(km(umîì(nm(sj(hpr(ëi(nmJ(Tsîì(mumo(pr(kr(ìi(kr(s(èmo(ns(hsu(nm(îsn(ous(jhsê(èi(ñip(jñiè(hs(ui(ñps(èr(ëi(
ui(l(s(vi(⁄l(ñm(pik(wi(s(vi(hr(òm(piP(ñm(hmv(kr(k(mjnmu(nr(jumì(jhur(ñm(pik(ws(l(in(oîi(jèmv(ìiL
s(èlP(r(mn(krP(ljpik(jpi(⁄l(ìl(ís(ji(nr(èmp(ñljP(rnr(îs(mv(lhup(ks(nìs(óm(ui(jhplè(hlp(ni(s(jr(kp(ësn(jèi(
rjñiè(hiP(òlnè(gs(ìl(s(lñm(hpi(wl(l(ìi(s(èlJ(Sêi(èl(ìi(ji(kr(íi(rnr(îs(r(ènìs(ëiu(nsó(hiè(jhm(ur(ñm(èrL
r(hs(ui(íl(pr(nm(up(jnmjh(ñm(pik(ws(l(ñm(oîi(kl(jhplè(hl(pi(s(jr(kp(ës(ni(l(mk(nm(jl(nr(ñm(krh(èi(èm(ìs(
ñm(jhm(ìi(l(hpi(nlh(nm(km(jhlñ(nsv(s(um(ps(vrJ((
YCE

T:A)`QA:H@R9û
ni(om(éhm(ji(hm(mwsê(nm(vs(jîsJ(Surì(prk(ji(wr(us(rnr(îs(mv(ñm(pik(ws(èm(ìi(ji(ìr(uîìr(ìl(l(
ènìs(ëiu(nsv(hiè(jhm(us(vr(nr(in(oîi(jèmv(ìi(s(èlJ((
Tsîì(mumo(pr(kr(ìi(¨K(kr(ñps(èr(ëi(ñm(pik(wi(s(loîr(èmo(ns(hsu(nm(îsn(ous(jhsê(èi(hi(m(ps(ìiP(
¨H(kr(nr(mjnm(ul(jr(jhr(uîìi(nmo(èmp(ñl(jr(lhup(ks(jhplè(hlp(ni(rjñiè(hi(ñm(pik(ws(èm(ìi(ji(
ìr(uîìr(ìl(l(ènìs(ëiu(nm(jhsP(r(r(hsv(¨ç(kr(ji(mjup(ni(s(nr(nìs(óm(ui(ji(vrn(hsê(èi(mjm(ws(niJ(
Vr(èm(⁄iP(prk(nr(jhm(ìs(¨§(kr(ñpi(èm(ñprè(hsê(nsó(ñps(vi(pr(lèr(ëi(nr(nìs(óm(ul(pr(nm(upL
jnmjh(l(ènìs(ëiu(nsv(ki(îs(vrP(èrm(s(¨å(kr(lhup(ks(ñm(jhm(ìr(nìi(ws(îm(èr(èusó(hin(kin(gs(ìr(l(
lñm(hpi(ws(s(òlnè(gs(ìs(ñm(pik(wi(l(ìi(s(èlJ
ümp(ñlj(r(sj(hpr(ës(ur(nìi(jr(jhr(uîìin(ìi(nr(mjnm(ul(ji(krv(nr(ijh(pm(vr(nr(s(jr(upiL
vi(ni(wps(hrn(jèi(ènìs(ëiu(nm(jhsP(ñps(êi(vl(ìi(ñps(èl(ñîìi(nm(§âM(ñps(vi(prJ(Rus(pm(vr(ns(
ñps(ñr(kr(ìl(jr(upi(vi(nmì(wps(hrn(jèmì(ènìs(ëiu(nm(jhs(èr(èm(ws(ji(ñps(èr(r(îr(hpi(nlh(nr(js(hl(rL
gs(ìr(l(ìi(s(èlP(rîs(s(kr(ws(ji(s(wi(oîr(ñm(ìr(ur(èlî(hl(pm(îm(éèsó(èmn(¿s(èr(hrJ(Skr(ws(pmv(prL
îs(ês(hsó(ërn(pm(ur(km(éîm(ji(km(pr(nm(up(jns(ìsó(ñps(vi(pr(s(l(ñm(oîi(kl(jhplè(hl(pi(s(l(ñm(oîi(kl(
jr(kp(ës(niP(èrm(s(lñm(hpi(wiJ(R(kpl(oi(jhpr(niP(pr(nm(up(jnmjh(ñps(vi(pr(mvm(ol(ír(ur(kr(ji(
lhup(ks(l(èm(ìmì(vi(ps(jl(mni(r(ñpr(um(èpi(r(hsu(ni(s(snm(ur(hsu(niJ(
^ps(s(l(êr(ur(nìl(ñm(pik(wsP(ius(kin(hrn(ìi(ni(km(jhr(hrè(ljhr(îìi(ni(hip(vs(nm(îm(os(ìiJ(Vr(èm(
ji(l(in(oîi(jèmv(ìi(s(èl(èm(ps(jhi(hip(vs(ns(s(=9)P9)C@(s(bFP)BA)G9)=F:P(ñps(êi(vl(pr(îs(èr(ns(ìi(
luiè(ìr(jnrP(mk(nm(jnm(hip(vsn(=9)P9)C@(ji(ñm(ni(èrk(èm(ps(jhs(s(r(ñm(pi(⁄i(nìi(s(r(ñm(pik(wiJ(
Rs(hl(r(gs(ìr(ìi(jîsê(nr(s(èr(kr(ji(up(éi(hs(ñm(îm(os(ìi(ñm(pik(wsP(ìip(êi(jhm(ni(ñm(jhm(ìs(ìr(jnm(nrL
nr(êi(nr(pr(îs(èr(s(vi(⁄l(ñm(pik(ws(s(mjhr(îsó(up(jhr(ñm(pi(⁄i(nìrJ
\(mumv(pr(klP(hip(vs(nm(îm(os(ìr(èm(ìr(ìi(lñm(hpi(wîìi(nr(ki(îs(vsê(nm(ji(r(jns(ur(nr(ñpsL
jhl(ñl(èm(ìs(s(îr(ël(Sp(hmnï(¨KIâI{(Käã(s(ôsî(îip(¨KIâI{(HMHP(ñr(ji(pr(îs(èl(ìl(km(jîmuL
nr(ñm(pi(⁄i(nìr(¨inoJ(C9)>@)GAC)bFP)BA)G9)=F:(s(ñm(pik(wi(¨inoJ(=9)P9)C@=P(èm(ìi(mnr(êr(ur(ìl(
ñm(pik(wi(l(ñpr(umv(jvs(jîlP(mk(nm(jnm(mni(èm(ìi(jr(kp(ëi(ñmì(vmu(nl(vi(hr(òm(plJ(R(kpl(oi(
jhpr(niP(l(ji(vrn(hsê(èmv(jvs(jîlP(ìr(uîìr(ìl(ji(ês(nìi(nsê(ni(ñm(pik(wi(¨inoJ(iAb)>9)F):A)C9)k@H)=9)P9)C@=(s(èpi(r(hsu(nsó(ñm(pik(ws(¨inoJ(bG@)A)>9)Q@)=9)P9r
C@=(¨api(ksn(KIIä{(ââP(^s(i(ps(ns(HMMH{(çâJ(
\(mèus(pl(ñp(umo(mkiîì(èr(l(pr(kl(kr(hs(jl(gs(îìi(us(s(vi(hm(km(îm(os(ìr(pr(krP(r(l(mèus(pl(
ñmk(m(ki(îìr(èr(s(hi(m(psì(jèi(mjnm(ui(èm(ìi(lèîìl(êl(ìl(èmo(ns(hsu(nm(îsn(ous(jhsê(èi(ñm(jhru(èi(s(
mñ(éhi(mjm(ws(ni(ñm(pik(wsJ(Xpl(os(mki(îìrè(wr(us(ji(rnr(îs(mv(jhplè(hl(piP(ñr(ji(mjsv(ñmL
ki(îi(ñm(pik(ws(kr(ìl(s(nìs(óm(ui(vm(ks(û(èr(gs(ìiP(kmè(ji(hpi(ís(èprh(èm(mjup(íi(nr(ji(vrn(hsê(èi(
mk(îs(èiP(r(r(hsv(ñr(ënìl(ñm(jui(íl(ìi(òlnè(gs(ìs(s(lñm(hpi(ws(ñm(pik(wsJ(Wr(èpr(ìl(jîi(ki(rL
èîìlê(gs(km(èm(ìsó(ji(km(éîm(l(sj(hpr(ës(ur(nìlJ
å§M
lOlO'aF'KAH'yok'}Fx'pJ'GJn'pF'BJp'xnJ'DGJö'}A'FDpF'nA
^m(ìr(umv(s(pr(um(ìiv(èmo(ns(hsu(ni(îsn(osu(jhs(èiP(r(ìik(nm(jr(vi(hr(òm(pr(vr(s(ñm(pik(wi(
ñm(ês(nìl(kr(ji(ñpm(l(êr(ur(ìl(èpm(èmo(ns(hs(us(jhsê(èi(ñm(jhru(èiJ(R(mw(s(pmv(nr(hm(kr(èmoL

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
ns(hsu(nm(îsn(ous(jhsê(èr(hi(m(ps(ìr(ni(ñm(jhr(uîìr(ìr(jnl(opr(ns(gl(s(vi(⁄l(vi(hr(òm(pi(s(ñm(pik(wiP(
ñm(pik(wi(jiP(lèm(îs(èm(ji(s(ñpm(l(êr(ur(ìlP(ñpm(l(êr(ur(ìl(l(mèus(pl(vi(hr(òm(piJ(Vm(nr(ês(kr(ji(
l(îsn(osu(jhsê(èmv(jvs(jîl(ñm(pik(wi(ni(pr(îs(èl(ìl(mk(vi(hr(òm(prP(mk(nm(jnm(kr(ji(ñm(pik(wi(
r(jns(ur(ìl(nr(vi(hr(òm(ps(èrm(èmo(ns(hs(umv(vi(ór(ns(vlJ
^m(mumì(hi(m(ps(ìs(vi(hr(òm(pr(vm(ëi(ñm(jhm(ìr(hs(l(ìi(s(èl(hiè(ñm(éhm(ñm(jhm(ìs(l(vs(éîìi(nìlJ(
\um(⁄i(nìiv( hip(vs(nr( fñmì(vmu(nr( vi(hr(òm(prf( ¨inoJ( bF:)b@B)>AB)JFG( ñpr(us( ji(
ìr(jnr( pr(îs(èr( s(vi(⁄l( hpr(ks(gs(m(nrî(nmo( s( èmo(ns(hsunm(îsn(ous(jhsê(èmo( ñps(jhl(ñr( vi(hr(òm(psJ(
^mì(vmu(nr(vi(hr(òm(pr(ji(èrm(mk(îs(èr(vs(éîìi(nìr(sj(ñm(îìr(ur(l(ìi(s(èl(ñpi(èm(vi(hr(òm(psê(èmo(
ìi(sê(èmo(s(pr(rP(hìJ(ñpi(èm(piê›P(r(èpm(ìi(sè(vs(mh(èps(ur(vm(èm(ìr(ji(ñmì(vmu(nr(vi(hrL
òm(pr(nr(îr(s(sr(nìsóJ(ei(krn(mk(nrì(ñm(nr(hs(ìsó(ñps(vi(pr(ìi(jhi(ñm(ìrv(RAS PRA VEP(èm(ìs(kr(ìl(
Zr(èmòò(s(emónjmn(¨KIäM{(§J(\(ñps(vi(ps(vr)wF)>Ab)R@H)
@Q@Ge)g@)AR)BF)9:>)9:)Pe)AG);Ü)t9=)bG9)>9)b9=P=)g@)G@)G9;J>)F:)>AG);@>Ü)sîs(`IQ@):@)Q@G)
gF:)A:)AG);)g9>J)J9P(vm(ëi(ji(ñps(vi(hs(hs(kr(ji(ñm(ìrv(prj(ñpr(ui(¨inoJ(AG);(
mw(ìr(énìr(ur(ñm(vm(íl(ñmì(vr(pr(hr(¨inoJ(gAGJ(Xr(èîiP(jhplè(hl(pr(ñmì(vr(RA TA(ñpi(jîs(èr(ur(
ji(nr(jhplè(hl(pl(ñmì(vr(RAS PRA VAP(r(ñmì(vmu(nr(vi(hr(òm(pr(èm(ìr(ji(nr(îr(s(l(ñmk(jhplè(hl(ps(
musó(ìi(sê(èsó(s(pr(r(ìi(RAS PRA VA JE RATP(mk(nm(jnm(AR GU MENT IS WARJ(
Rómk(nm(èmo(ns(hsu(nmì(hi(m(ps(ìsP(jîs(êrn(ñpm(gij(ji(mk(s(opr(ur(s(èr(kr(om(um(ps(vm(m(ñmL
pik(ws{(lèm(îs(èm(èr(ëi(vm(O@)>@G)9=)A=)=>

å§H
T:A)`QA:H@R9û
èm(ìs(s(pr(ër(ur(mjm(ws(nl(ñm(vm(íl(èm(ìi(ji(kur(in(hs(hi(hr(km(um(ki(l(ui(lJ(Vr(èm(ws(l(ñpsL
vi(pl(oAGe)gA=)A=)>J9:)A=)A)=>9bR)9:)=@b>P(678q(ws(îr(gsîì(ns(km(vinP( K9;OI# ;H#K=O9(
s(ump(nsP(kmè(ws(>J9:(wsm(hip(gs(ìlv(èmv(ñr(pr(gs(m(nsjJ
^m(jhm(ìi(s(ui(jni(ni(km(l(vs(giP(èr(èm(l(km(vr(ímì(hr(èm(s(l(jhpr(nmì(îs(hi(pr(hl(psP(mèm(hmL
or(éhr(jl(hm(r(ñpr(um(ñm(pik(wiP(r(éhr(ñm(pi(⁄i(nìi(s(l(èm(ìmì(vi(ps(ji(hr(kur(ñmì(vr(pr(îsL
èl(ìlJ(^m(pi(⁄i(nìi(ìi(ìi(sê(ès(vi(ór(ns(rv(èm(ìs(lèîìl(êl(ìi(és(pmè(jñiè(hrp(ìi(sê(èsó(s(pr(r(
ñm(vm(íl(èm(or(ji(s(pr(ër(urP(r(s(vi(⁄l(mjhr(îsó(hl(ìi(s(jr(vr(ñm(pik(wrJ(Vr(èmP(srèm(ji(
l(s(pr(s(vr(aJ@)JAH)@e@=)=JA)B@H)C9)R@)AC)PF:H=P(cJ@)@)>AJ)9=)iA)=>@G)>JA:)A)GAf)f9>(sîs(
[J9=)BCA)b@)G@)P9:H=)P@)Fi)Pe)JF)P@)>Fg:P(ñm(pi(ki(kur(in(hs(hi(hrP(hl(ji(ni(pr(ks(m(ñm(pikL
wsP(ìip(ñm(pik(wi(jl(ñpmh(jhr(uîìr(ìl(kur(ni(jîsê(nr(in(hs(hi(hr(s(ñm(hm(vi(jl(jîsê(ni(vi(hr(òm(psJ(
^pi(vr(hm(viP(vm(ëi(vm(pr(îs(èm(ur(hs(ks(pièh(nrP(mk(nm(jnm(km(jîmu(nr(ñm(pi(⁄i(nìrP(èrm(éhm(
ìi(s(pr(aJ@)JAH)@e@=)=JA)B@H)C9)R@)AC)PF:H=)s(ñm(pik(wiP(èrm(éhm(ìi(nr(ñps(vip(t@G)@e@=)
g@)G@)A=)fCGF:;)A=)A:)FñP(A=)>J9:)
A=)A)=>9bR)9:)=@b>P(>F)gFGR)C9)R@)A)H9:>P(>F)=C@)@B)C9)R@)A)CF;J
^m(pik(wi(svr(ìl(pi(îr(hsu(nm(us(jm(èl(ñm(jhm(ìr(nmjhP(j(hsv(kr(jl(ni(èi(hprn(jòmp(vr(gs(ìi(
s(vm(ks(û(èr(gs(ìi(vm(ol(íiP(èrm(éhm(ìi(ñpm(vi(nr(wpm(ìrP(oîr(omî(jèmo(upi(vi(nrP(hi(vrh(jèi(
mp(or(ns(r(gs(ìi(pi(êi(ns(gi(s(kpJ(ümk(ñm(pik(ws(r(vin(îìs(umjh(ìi(vs(ns(vs(vrî(nrP(r(êi(jhm(ji(
ki(ér(ur(kr(s(èr(kr(ìi(vm(ol(ír(r(vi(nr(îiè(ji(vr(lnl(hrp(ñm(pik(wiP(ni(km(ws(ìr(ìl(ji(js(nmL
nsv(ni(jsn(hro(viP(uií(mni(svr(ìl(ñmh(ñl(nm(kpl(or(ês(ìi(nr(êi(nìiJ(S(musv(mjm(ws(nr(vr(
ñm(pik(ws(íi(ni(éhm(èr(jns(ìi(ws(hs(us(éi(pi(êsJ(Sjm(ws(nr(ñpm(sp(nm(jhs(ji(jr(vm(ki(îs(vsê(nm(
mk(nm(js(nr(ñm(pik(wiP(ìip(ji(nìs(óm(um(nr(êi(nìi(loîru(nmv(vm(ëi(ñpik(us(ki(hs(nr(mjnm(ul(
nr(êi(nìr(pi(ês(l(s(pr(lP(hr(èm(kr(jl(l(ui(îs(èmì(vi(ps(ñpm(sp(nsJ(Vr(èmP(nr(ñps(vipP(rèm(èrL
ëi(vm(kr(ìi(ni(èm(A=)>J9:)A=)A)=>9bR)9:)=@b>P(nr(íi(vm(kr(ìi(nr(êi(nìi(jsn(hro(vi(fuipï(
hósnfP(r(kr(ìi(>F)=BG@AH)C9)R@)g9CH){)G@(fjñpirk(pi(rîîï(òrjhfJ(
^m(jhm(ìs(s(ui(jhrn(wpmì(ñm(pik(ws(èm(ìi(jl(ljhr(îìi(niP(ñpi(ñm(nr(hîìs(ui(s(mñ(éhi(ñps(óurL
íi(niJ(Vr(èus(jl(s(pr(s(A=)bFFC)A=)b)C9)R@)A)f9GHJ(
Sns(jl(ljhr(îìi(ns(km(hi(vi(pi(kr(lîr(i(l(piê(ns(èiJ(ôi(⁄l(hsvP(vi(ór(ns(rv(r(jhur(pr(nìi(
ñm(pik(ws(ìi(ui(m(vr(ñpm(klè(hs(urn(s(jhrî(nm(nr(jhr(ìl(nm(uiP(êi(jhm(kr(ws(ji(jr(vm(ìik(nmv(
lñm(hpi(ws(îiP(r(ñm(hmv(ni(jhr(îiJ(Sui(òpr(i(ji(loîru(nmv(pi(ñpm(kl(èl(ìl(èrm(gi(îs(ni(s(hr(èm(
ji(lèîr(ñr(ìl(l(èmn(hièjhP(r(nr(pm(ês(hm(ljhr(îìi(ni(ur(ps(ìrn(hiJ(

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
mO'/)34{')43'X*'*X*',1'§*'aZ'3-.'+1
api(ksn(¨KIIä{(ãâ(ìi(ìi(krn(mk(ñp(usó(îsn(ous(jhr(èm(ìs(ìi(ñm(nl(ksm(hi(m(ps(ìl(m(ñm(pikL
wr(vr(ñm(jhr(uîìr(ìl(ís(só(l(mñ(éhl(hi(m(ps(ìl(ñm(pi(⁄i(nìrJ(^m(nìi(vlP(ñm(jhm(ìs(éijh(up(jhr(ñmL
pi(⁄i(nìrP(r(ñm(éhm(jl(s(ñm(pi(⁄i(nìr(¨inoJ(bFP)BA)G9)=F:)E(s(ñm(pik(wi(up(jhr(ñpmL
ñm(s(gs(ìi(¨inoJ((BGF)BF)=9)>9F:P(jhm(or(svr(s(éijh(up(jhr(ñm(pik(ws(¨api(ksn(KIIä{(âç(¨fQ(
sj(îs(èi(afP(fQ(sj(nmh(îs(èi(afP(fQ(sj(îs(èi(a(sn(pi(jñigh(mò(ñfP(fQ(sj(ln(îs(èi(a(sn(pi(jñigh(
mò(ñfP(fQ(órj(rj(vlgó(ñ(rj(a(órjfP(fQ(órj(r(ksò(òi(pinh(úl(rn(hshï(mò(ñ(hórn(a(órjfJ(
Ri(s(kîi(¨ñpi(vr(Svr(sí(HMMH{(KMå(ñm(pik(wi(l(in(oîi(jèmv(ìi(s(èl(ki(îs(l(hps(opl(ñiP(
nr(mjnm(ul(up(jhi(pi(ês(èm(ìi(ji(ìr(uîìr(ìl(nr(îi(umì(jhpr(ns(s(jîm(ëi(nm(jhs(jhplè(hl(pi{(¨K(ñmL
pik(wi(ns(òpr(i(vs(j(ñps(ki(us(vr(¨A=(¡(AHE@b)>9)Q@(¡(A=(¡(NPP(A=)P@)GGe)A=)A)bG9b)R@>P(¨H(
ñm(pik(wi(ns(òpr(i(vs(j(oîr(om(îs(vr(¨Q@Gf)¡(C9)R@(¡(NPP(>F)HG9:R)C9)R@)A){=J(s(¨ç(pr(îs(ês(hs(
ñm(pik(wi(ns(òpr(i(vs(¨>F)f@)C9)R@)G@H)GA;)>F)A)fJ@)fC@)A=)=:FgP(gJ9)>@(kim(
QP(kim(a(ìi(ui(nsè(A=(s(kim(T(=:FgP(kmè(ìi(l(oîr(omî(jèmì(ñm(pik(ws(>F)=C@)@B)C9)R@)A)
CF;P(kim(Q(=C@)@BP(kim(a(ñm(pik(wi(ns(ui(nsè(C9)R@l(r(CF;(kim(TJ(R(kpl(oi(jhpr(niP(èmk(
kum(kiî(nmo(hs(ñr(ñm(pik(wsP(s(m(jhr(uîìin(ìi(kim(QP(mk(nm(jnm(kim(èm(ìs(ji(lñm(pi(⁄l(ìiP(ñr(
ji(ñm(pik(wr(jr(jhm(ìs(jr(vm(mk(ki(îr(a(s(TP(èrm(l(jsn(hro(vs(C9)R@)PAHJ(Xr(îìr(ñm(ki(îr(s(
rnr(îs(r(up(és(ji(nr(mjnm(ul(îiè(jsê(èmo(jr(jhr(ur(l(ki(îl(TJ(Sum(ìi(ñm(ki(îr(nr(èm(ìmì(ji(
ui(îs(èsv(ki(îmv(r(jns(ur(s(murì(prkP(vr(kr(jr(s(ui(jnsv(s(vi(nr(vrJ(
^m(pik(wi(èm(ìi(jl(ñpm(l(êr(ur(ni(l(mumv(pr(kl(jl(l(ki(îl(Q(s(T(svr(îi(sîs(ñpm(jhl(piê(
sîs(jsn(hro(vl(¨ñm(ñlh(>@G)G9){@H)A=)A)C@P)P9:;)sîs(A=)q@)@>)A=)>J@)g9:H)F:)A)iA)9GCe)bACP)
HAeP(kmè(mni(èm(ìi(l(ws(îm(èmv(ki(îl(svr(ìl(jhplè(hl(pl(pi(êi(ns(gi(ns(jl(ñpm(l(êr(ur(ni(¨;F)
F:)C9)R@)=F)P@)bCFb)RgFGR)>Fe)>JA>)gF:I>)bJA:);@)H9)G@b)>9F:)9C)9>)fF)=F)P@>r
J9:;(sîs(f@)AP)C9)R@)A)qF)g@G)fCF=)=F)P9:;)9:)>J@)=)F:)C9)R@)A)JF)

姧
T:A)`QA:H@R9û
ñps(kiu(jèmo(s(ñpik(îm(éèmo(hs(ñr(¨b@)A=)A)f)>F:æ(m>GA)Q@Cn)GA)B9HCe)A=)C9;)J>@):9:;æ(j(
kpl(oi(jhpr(niP(l(ji(vrn(hsê(èmv(jvs(jîlP(lñm(hpi(wr(pr(îs(ês(hsó(ñm(pik(wi(nsó(ui(ns(èr(ni(
sr(s(ur(nr(êrì(ns(ìi(ñpm(vi(niJ(Vr(pr(îs(èr(ji(nrì(wm(îìi(vm(ëi(sîl(jhpm(ur(hs(jîi(ki(ísv(ñrL
pmv(ñps(vi(pr{(=>A:H)C9)R@)A)=>A)>A:H)=>9CC)A=)A)=>A)>9CCP(js(hl(r(gs(ìr(ìi(kpl(or(ês(ìr(s(ui(nsè(ìi(A=J(ôi(⁄l(hsvP(èr(èm(ji(pr(ks(m(
hin(kin(gs(ìr(vrP(ñm(jhm(ìi(s(ñps(vi(ps(l(èm(ìs(vr(ñm(jhm(ìs(mk(jhl(ñr(nìiP(ñr(ji(l(oîr(omî(jèmv(
s(svin(jèmv(hs(ñl(vm(ëi(ìr(us(hs(s(ui(nsè(A=(¨f@)A=)A);F)G9C)CA)9:)A);CA==)iAb)>FGenl)r(l(
ñps(kiu(jèmv(s(ñps(îm(éèmv(ui(nsè(C9)R@(¨=>9bRe)C9)R@)bA:HeqF==P(BF)g@G)i9)Q@P(mq9bR)fAbRn)=P(r(èm(ìs(ns(ìi(mwr(ui(rnP(
ñr(ji(ìr(uîìr(ìl(ñm(pik(wi(jr(hsv(iîi(vin(hmv(s(wi(nìi(orP(wi(ñpm(vi(ni(l(nr(êi(nìlJ(
oO')KF'HAB'pJ'GJz'zF'KAH'yJ
\(mèus(pl(hpm(kiî(nmo(hs(ñr(ñm(pik(ws(ñm(jhm(ìs(ni(èm(îs(èm(ñmk(up(jhr(l(r(us(jnm(jhs(mk(hm(or(
èm(ìi(ji(up(jhi(pi(ês(ìr(uîìr(ìl(nr(vi(jhl(ki(îr(Q(¨èmv(ñm(nin(hr(èm(ìr(ji(ñm(pi(ks(s(ki(îr(T(
¨èmv(ñm(nin(hr(jr(èm(ìmv(ji(ñm(pi(ksJ(\(ki(îl(Q(vm(ëi(kr(ji(nr(⁄i(oîr(omîP(ñps(kiuP(sviL
ns(gr(sîs(ñps(îmoP(ñr(ji(jómk(nm(hm(vi(ñm(pik(wi(ki(îi(nr(oîr(omî(jèi(ñps(kiu(jèiP(svi(nsê(èi(
s(ñps(îm(éèiJ(`r(ks(îrè(éi(èîr(js(û(èr(gs(ìiP(jîm(ëi(ns(oîr(om(îsP(mk(nm(jnm(oîr(om(îs(èm(ìs(l(ji(wi(
svr(ìl(ñpik(îmo(sîs(ñps(îmoP(ws(íi(ñm(jvr(hpr(ns(èrm(oîr(omî(jèi(jsn(hro(vi(s(ni(íi(ji(kl(wîìi(
lîr(s(hs(l(nìs(óm(ul(jhplè(hl(plP(r(nr(jîs(êrn(nr(êsn(íi(ws(hs(hpi(hs(pr(ni(s(kpl(oi(jsn(hro(viJ
mOlOlO'`Bo'xFB'D}A'zF'KAH'yA
ümk(oîr(omî(jèsó(ñm(pik(wsP(oîru(nr(piê(ìi(oîr(omî(s(hm(ìi(iîi(vinh(èm(ìs(ji(nr(îr(s(l(
ki(îl(QP(éhm(jui(ñm(pik(wi(mumo(hs(ñr(jup(jhr(ur(l(ñpm(és(pi(ni(oîr(omî(jèi(jsn(hro(viJ(Wìsó(
ws(jvm(kr(îìi(vm(oîs(ñm(ki(îs(hs(l(hps(èr(hi(om(ps(ìi{(oîr(omî(jèi(ñm(pik(wi(èm(ìi(svr(ìl(jr(vm(
oîr(omî(l(ki(îl(QP(oîr(omî(jèi(ñm(pik(wi(jr(mwìiè(hmv(l(ki(îl(Q(s(oîr(omî(jèi(ñm(pik(wi(jr(
ñps(îm(éèmv(mk(pik(wmv(l(ki(îl(QJ
`Bo'xFB'D}A'zF'KAH'yA'}F'ôA'JEo'ô@'Do'EF'xBo'xFB'@'HA'B@'*(svr(ìl(jîi(ki(íl(mñ(éhl(
jhplè(hl(pl(c^(Õ(c(¡(^^(¨^(¡(W^J(\jhr(îìi(ni(ñm(pik(wi(nrì(êi(éíi(ñps(ñr(kr(ìl(mumì(oplL
ñs(ñm(pik(ws(s(ñps(hm(vi(kim(TP(mk(nm(jnm(èmv(ñîi(vin(hr(gs(ìr(ñpik(îm(or(A=(sîs(C9)R@P(svr(
jr(vm(svi(ns(gl(wi(ñpi(vm(ks(û(èr(gs(ìr(s(ñmjh(vm(ks(û(èr(gs(ìr(¨>G@P)fC@)C9)R@)A)JAGB=>G9:;P(
@A>)C9)R@)A)JFG)=@P(>ACR)C9)R@)A)PF)Q9@P(=PF)R@)C9)R@)A)bJ9P):@eP(qe)AgAe)C9)R@)f)>@G)q9)@=P(
G

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
;F)F)=@P(wpm(ìiv(¨CF)FR)C9)R@)A)P9C)C9F:)HFC)CAG=(sîs(ñps(îm(omv(¨HAg:)C9)R@)A)fAHCe)BFr
Ab)J@H)@;;J
R(kpl(oi(jhpr(niP(svi(ns(gr(l(èmv(ñîi(vin(hr(gs(ìs(ñpik(îm(or(A=(sîs(C9)R@(vm(ëi(svr(hs(s(
ñmjh(vm(ks(û(èr(gs(ìl(s(mnr(ji(nrì(êi(éíi(vm(ks(û(èl(ìi(ñm(vm(íl(ñpik(îm(éèi(jsn(hro(vi(¨gACR)
C9)R@)A)bA)P@C)9:)>J@)H@)=@G>P(P@C>)C9)R@)9b@)J@)fG@)A>J)Fi)A)
i@GP(r(ñm(ni(èrk(s(jr(us(éi(sjhsó(¨f@)C9)R@)A)
PF:)R@e)g9>J)A)R@e)>F)fA):A):A)BCA:)>A)>9F:J
Vr(èm(⁄iP( svi(ns(gr( l( èmv(ñîi(vin(hr(gs(ìs( ñpik(îm(or( A=( sîs( C9)R@( vm(ëi( sjhm(upi(vi(nm(
svr(hs( s( ñpi(vm(ks(û(èr(gs(ìl( s( ñmjh(vm(ks(û(èr(gs(ìl( ¨bC9:;) C9)R@) A) PF)A9:) bC9P)f@G) >F) A)
GF)B@P(=P@CC)C9)R@)A)B@G)iJI=P(i@@C)C9)R@)A)=JFG:)=J@)@B)F:)A)
g9:)>Ge)HAeP(=9>)C9)R@)A:)FCH)>FAH)A>)>J@)fF>)>FP)Fi)A)BF:HJ
`Bo'xFB'D}A'zF'KAH'yA'Do'FyôA}'GFE'@'HA'B@'*'svr(ìl(km(kr(hl(svi(nsê(èl(jsn(hro(vlP(
hi(ìi(nìs(óm(ur(jhplè(hl(pr(c^(Õ(c(¡(W^(¡(^^J(ürm(s(l(ñpih(ómk(nmì(opl(ñsP(s(mu(ki(ji(ìrL
uîìr(ni(èm(îs(èm(jîl(êr(ìi(urJ(Uvi(ns(gr(l(èmv(ñîi(vin(hr(gs(ìs(ñpik(îm(or(A=(sîs(C9)R@(vm(ëi(ws(hs(
wi(vm(ks(û(èr(gs(ìr(¨b9G)bC@)>J@);A)P@)C9)R@)A)JAgRP(H@)PA:H)iFFH)C9)R@)bF)F)RF)F=P(;9)Q@)
PF):@e)C9)R@)=g@)A>=P(=JA)R@)>J@)f=)Fii)C9)R@)GA)9:)HGFB=P(R9bR)=f)AGF)r
fACCP(iFC)CFg)=f)C9)R@)=J@)@BJ
Uvi(ns(gr(vm(ëi(ws(hs(ñpi(vm(ks(û(èm(ur(nrP(nrì(êi(éíi(ñm(vm(íl(ñps(ki(ur(¨HG@:bJ)=f)C9)R@)
JF>)gA)>@pP(JFCH)=>J)F)C9)R@)A)gJ9)>@)qA;P(C@>)F)A)JFgC)C9)R@)A)gF)J@)PA)C@)C9)f9)HF)C9)R@)A)C@AH)B9)B@P(AQF9H)bJF)bF)CA)>@)PAG)k9)BA:)bA)R@)C9)R@)>J@)BCA);)>9:P(i@@C)P@)PF)G9)@=)C9)R@)A)GA=J)
F:)J@G)=R9:(kmè(ìi(r(ns(vîìs(um(hm(éhm(ns(jl(r(wi(îi(ëi(ns(ñps(vi(ps(jr(ñpi(vm(ks(û(èr(gs(ìmv(
s(ñmjh(vm(ks(û(èr(gs(ìmvJ
`Bo'xFB'D}A'zF'KAH'yA'Do'zKJ'BF'õ}FE'FH'KAH'yFE'@'HA'B@'*(svr(ìl(km(kr(hl(ñpik(îmL
éèl(jsn(hro(vlP(ñr(ji(nìs(óm(ur(jhplè(hl(pr(vm(ëi(ñps(èr(r(hs(l(mw(îs(èl(òmp(vl(îi(c^(Õ(c(¡(
^^(¡(^^J(Wrì(ui(ís(kim(ñps(vi(pr(l(mumì(èr(hi(om(ps(ìs(ìi(nrì(ñpm(jhs(ìio(hs(ñrP(mk(nm(jnm(ni(vr(
vm(ks(û(èr(gs(ìr(l(ki(îl(TJ(Vr(èus(jl(jîi(ki(ís(ñps(vi(ps{(=>G@)AR)>F)gAGH)>J@);GF)J@)fAG)C9)R@)bJAP)BA;):@P(=BG@AH)Ab)GF==)>J@)gAGH=)C9)R@)H@)A>J=P(
bF9C)AGF)J@)R9H=)C9)R@)A)gJ9G)Cg9:HP(G=P(HGFB)F)Fi)>J@)=Re)C9)R@)A)=>F):@P(
f@)ACC)FQ@G)>J@)=>FGe)C9)R@)A)GA=JJ
^pi(vm(ks(û(èr(gs(ìr(ki(îr(T(ji(up(és(ñm(vm(íl(ñps(ki(urP(r(pi(⁄i(ñm(vm(íl(svi(ns(gr{(BA)b@)
AGF)J@)GF)FP)C9)R@)A)GA>)>C@H)C9F:l)=>A:H)FQ@G)>J@)CA:)H=bA)B@)C9)R@)A:)A:);Ge)iA>)J@G,)
bC

T:A)`QA:H@R9û
U(l(mumì(èr(hi(om(ps(ìs(ñm(pik(wi(èmk(èm(ìsó(ìi(svi(ns(gr(l(ki(îl(T(ñmjh(vm(ks(û(èm(urnr(
jl(jñm(pr(ksê(ni{(=@>)>C@)F:)=f)C9)R@)A)>F:)Fi)fG9bR=P(JA:;)9:)>J@)A9G)C9)R@)>J@)@b)JF)Fi)A)
;J
ürm(ns(jhplè(hl(pi(èm(ìi(jr(kp(ëi(mwìi(èrhP(ns(l(mèus(pl(mumo(hs(ñr(ñm(pik(ws(ns(jl(lmêi(ns(
ñps(vi(ps(èmk(èm(ìsó(svi(ns(gr(l(èmv(ñîi(vin(hr(gs(ìs(ñpik(îm(or(A=(sîs(C9)R@(svr(s(ñpi(vm(ksL
û(èr(gs(ìl(s(ñmjh(vm(ks(û(èr(gs(ìlJ(Sjsv(hm(orP(ns(jl(ñpi(vm(ks(û(èm(ur(ni(ns(svi(ns(gi(èm(ìi(ji(
ìr(uîìr(ìl(l(mèus(pl(ñpik(îm(éèsó(jsn(hro(vs(l(ki(îl(QJ
mOlOmO'aKJ'HAn'D}J'GJz'zF'KAH'yJ'
ürm(s(èmk(oîr(om(îrP(ñps(kiu(jès(hsñ(ñm(pik(ws(wi(vm(ks(û(èr(gs(ìr(ki(îr(T(ês(ns(nrì(ui(ís(
kim(èmp(ñl(jr(ljhr(îìi(nsó(ñm(pik(wsP(srèm(ji(s(hl(ìr(uîìr(ìl(ni(ès(èpi(r(hsu(ns(ìs(ñps(vi(psJ(WìsL
óm(ur(mñ(éhr(òmp(vl(îr(ìi(Q^(Õ(Q(¡(^^(¨^(¡(W^J(Xr(îi(èm(jl(wpmì(ns(ìs(ñps(vi(ps(jr(ñpikL
îm(omv(A=P(hs(ñr(A=)=9bR)A=)A)BAG)GF>P(A=)>J9:)A=)A)=>9bR)9:)=@b>P(A=)BA)>9)@:>)A=)A)fG9bRP(
A=)>9)G@H)A=)A):@g>P(A=)fGA9:e)A=)]9:)=>@9:P(b@)A=)A)f)>F:P(HG9bRe)C9)R@)bA:HeqF==P(BF)g@G)i9)Q@l)
=C9B)B@Ge)C9)R@)BG9)@=>P(F)C9)R@)A)C9;J>J
cp(îm(êi(jhm(ji(l(mur(èusv(ñm(pik(wr(vr(ìr(uîìr(ñpi(vm(ks(û(èr(gs(ìr(ws(îm(ñps(ki(umv(¨A=)
bFFC)A=)A)fFCH)PA)PF>JP(A=)>F)@P)B@)G@H)=>@@CP(A=)bFCHrfCF)F)H@H)A=)A)H@AH)
B@:);)=9CRP((ws(îm(kpl(omv(svi(ns(gmv(
¨A=)iGA);9)C@)A=)A)bJ@)@)=@)=>GAgP(r(s(nsv(nm(s(jsn(hro(vmv(¨fG9;J>)A=)vF)JrFirä)A=)>J@)>F)gF)B@)A=)9:)A)BFHP(A=)bC@)AG)A=)A)=@>)Fi)A:A)>F)P9)bAC)HGA)g9:;=P(mA=n(C9;J>)A=)A)BJ@)g9:H)F:)A)iA)9GCe)bACP)HAeJ(
^m(pik(wi( l( èm(ìs(vr( ji( ìr(uîìr( s( ñpi(vm(ks(û(èr(gs(ìr( s( ñmjh(vm(ks(û(èr(gs(ìr( svi(ns(gi( l(
èmv(ñîi(vin(hr(gs(ìs(ñpik(îm(or(A=(sîs(C9)R@P(ns(jl(r(wi(îi(ëi(niJ
Urèm(ji(ñps(kiu(jèi(ñm(pik(wi(nrì(êi(éíi(ìr(uîìr(ìl(l(èmv(ws(nr(gs(ìs(jr(oîr(om(îmv(f@P(hl(
ji(vm(ol(nr(ís(s(kpl(os(oîr(om(îsP(èrm(l(ñps(vi(ps(vr(;@>)iA>)A=)A)B9;P(=>A:H)iGF)k@:)C9)R@)A)
GAf)f9>P(=>A:H)PF)>9)F:)C@==)C9)R@)A)gAñ)gFGRJ(
mOlOuO'1EA'pJö'}J'GJz'zF'KAH'yJ'
Uvi(nsê(ès( hsñ( ñm(pik(ws( ìiP( l( ñm(pi(⁄i(nìl( jr( ñpih(ómk(nr( kurP( vr(nìi( r(jhl(ñîìin( l(
èmp(ñl(jlP(srèm(ni(r(ni(vrp(îìsuJ(Sñ(éhr(òmp(vl(îr(svi(nsê(èmo(hs(ñr(ñm(pik(ws(ìi(W^(Õ(W(
¡(^^(¨^(¡(W^(s(mni(ji(hr(èm(⁄i(ìr(uîìr(ìl(l(hps(ñmh(èr(hi(om(ps(ìi(L(wi(vm(ks(û(èr(gs(ìr(sviL
ns(gi(l(ki(îl(T(¨P9:H)C9)R@)bJA)9:)=AgP(C9B=)C9)R@)bJ@G)G9)@=P(@e@=)C9)R@)HA;);@G=P(iA)b@)C9)R@)
A)i

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
C9)R@)A)=>9bR)9:)=@b>P(Pe=>@Ge)C9)R@)A)fCAbR)FBACP(ni(om(ñps(ki(umv(¨>@)@>J)C9)R@)A:)b9)@:>)
9QFGeP(@e@=)C9)R@)BA)C@)=AB)J9)G@=J
^mjh(vm(ks(û(èr(gs(ìr(ki(îr(T(svi(nsê(èmo(hs(ñr(ñm(pik(ws(ìi(up(îm(pih(èr(s(r(wi(îi(ëi(nr(ìi(l(
jui(or(ni(èm(îs(èm(ñps(vi(pr(¨@e@=)C9)R@)CP(
srèm(jl(ñm(ìi(ks(ns(up(îm(jîs(èm(us(hsP(èrm(éhm(ìi(hm(jîl(êrì(jr(jîi(ki(ísv(ñps(vi(pmv(A)=>AG)
C9)R@)>J@);C9>)>@G)9:)>J@)@e@=Fb)R@>)Fi)A)GA)f9H)P9:RJ
mOlOúO'aKJ'BF'õ}J'GJz'zF'KAH'yJ'
^ps(îm(éès(hsñ(ñm(pik(ws(ìi(nrì(pi(⁄s(s(up(îm(êi(jhm(ji(l(èîr(js(û(èr(gs(ìr(vr(ni(mkur(ìr(mk(
oîr(omî(jèmo(hs(ñrJ(Wìi(om(ur(jhplè(hl(pr(ìi(Qku^(Õ(Qku(¡(^^(¨^(¡(WJ(Sjsv(hm(orP(mui(
ñm(pik(wi(up(îm(pih(èm(jr(kp(ëi(vm(ks(û(èr(gs(ìiP(éhm(ji(vm(ëi(lmês(hs(l(jîi(ki(ísv(ñps(vi(ps(vr{(
GA)B9HCe)A=)C9;)J>@):9:;P(C9;J>Ce)A=)A)=?P(A=)fG9;J>Ce)A=)>J@)
;JF=>=P(=@G):ACCe)C9)R@Ce)A=)A)C@AH)C9)i@)f@C>P(éhm(ìi(ñmh(ñl(nm(ni(hs(ñsê(nmJ
\(mèus(pl(pih(èsó(jîl(êr(ìi(ur(vm(ks(û(èr(gs(ìi(vm(ol(ji(us(ki(hs(ñps(vi(ps(ñmjh(vm(ks(û(èmL
ur(nsó(svi(ns(gr(l(èmv(ñîi(vin(hr(gs(ìs(ñps(îm(or(A={(iA=>)A=)>J@)=B@@H)Fi)C9;J>æ(A=)@A=9Ce)
A=)bA>=)9:)>J@)=AbRJ
yO'.nF'HAB'pJ'GJz'zF'KAH'yJ
\(èr(hi(om(ps(ìs(kum(kiî(nmo(jhplè(hlp(nmo(hs(ñr(ni(vr(hm(îs(èi(pr(nm(up(jnm(jhsP(éhm(ìi(uiL
pm(urh(nm(ñm(jîi(ks(gr(lñpr(um(hi(ljhr(îìi(nm(jhsP(hi(jhm(or(s(jèm(îm(nm(jhs(kr(ul(êi(èrm(èîs(éisJ(
õr(nìi(or(ìi(èr(prè(hi(ps(jhsê(nm(kr(l(mèus(pl(ñm(pik(wi(ns(ìi(s(pr(ëin(kim(QP(mk(nm(jnm(ni(
ñm(jhm(ìs(ñps(kiu(sîs(oîr(omî(èm(ìs(èmn(èpih(nm(s(pr(ër(ur(hip(gs(ìlv(èmv(ñr(pr(gs(m(nsjP(uií(ji(
hr(mjm(ws(nr(s(pr(ër(ur(mjhrh(èmv(ñm(pik(wiP(hi(ìi(jhm(or(kim(Q(r(vin(îìsu(s(nr(nìi(om(um(
vi(jhm(vm(ëi(kr(km(⁄i(om(hm(um(ws(îm(èm(ìs(oîr(omî(sîs(ñps(kiuJ
Rhplè(hlp(nmP(mni(ñpik(jhr(uîìr(ìl(ñpik(îm(éèi(jsn(hro(viP(ñps(êi(vl(ji(svi(nsê(ès(kim(
vm(ëi(s(pr(s(hs(ñpi(èm(svi(ns(gi(sîs(ñps(ki(urJ(\èm(îs(èm(ji(svi(nsê(ès(kim(s(pr(ër(ur(ñpi(èm(
svi(ns(giP(mñ(éhr(jhplè(hl(pr(ñm(pik(wi(ìi(^^(Õ(^(¡(W^P(r(pi(îi(urnh(ns(ñps(vi(ps(jl{(C9)R@)PAr
;9bl)C9)R@)J@CCl)C9)R@)A)HG@)APl)C9)R@)A)=JF>l)C9)R@)A)PA):9)Abl)C9)R@)A)PAH)PA:l)A=)J@CCl)A=)
=J9>J
\èm(îs(èm(ji(ñrè(hrì(kim(s(pr(ër(ur(ñpi(èm(ñps(ki(urP(mñ(éhr(òmp(vl(îr(ìi(^^(Õ(^(¡(Q^P(
r(mwsê(nm(ji(s(pr(ër(ur(ñpi(èm(s(pr(r(C9)R@)PAHJ
mOmO'0F'HJ'ñ'}o'qJ'ôA'@'DGK@}'G@'KJ
^pm(vin(îìs(umjh(òmp(vi(ns(ìi(hs(ñsê(nr(èr(prè(hi(ps(jhs(èr(sks(m(vrP(rîs(ji(ñm(pik(wi(ìr(uîìr(ìl(
l(pr(îs(ês(hsv(vm(ks(û(èr(gs(ìr(vrP(srèm(ñps(ñr(kr(ìl(mumì(èr(hi(om(ps(ìsJ(^m(jhm(ìs(ni(èm(îs(èm(up(jhr(
å§â

å§ä
T:A)`QA:H@R9û
vm(ks(û(èr(gs(ìr{(r(vi(nr(îiè(ji(vrP(km(kr(ur(nìi(iîi(vi(nr(hrP(pi(klè(gs(ìr(s(vmp(òm(jsn(hrè(hsêL
èi(hprn(jòmp(vr(gs(ìiJ
ür(kr(ji(pr(ks(m(r(vi(ns(îiè(ji(vrP(mnr(vm(ëi(kr(ji(mk(nm(js(nr(oîr(om(îiP(ñps(ki(ui(
sîs(svi(ns(giJ(Wrì(pr(nm(up(jns(ìs(s(nrì(vnm(om(wpmì(ns(ìs(jl(ñps(vi(ps(l(èm(ìs(vr(ji(r(vi(nìlL
ìi(svi(ns(gr(l(ki(îl(TP(hr(èus(jl(;F)Fii)C9)R@)A)cCAePF)G@)P9):@£A)bA:):F:P(;G9:)C9)R@)A)
cJ@=)J9)G@)bA>£A:(9H9)F>£:@b)GFB)J9)C9b)9:)A)PFG);F):@P(P@C>)
C9)R@)9b@Sf)>@GP(>G@P)fC@)C9)R@)A)JAGB=>G9:;£A:)A=B@:)C@)AiJ
¨K(Rlk(kinîï(sh(J9>)P@)C9)R@)A)>JJ
¨H(Só([mkP(U(vsjj(Zl(èiJ(Vói(òi(i(îsno(J9>=)P@)C9)R@)A)JAP)P@G)fCFgJ
Sjsv(l(oîr(omî(jèmv(hs(ñl(ñm(pik(wsP(svi(ns(gi(sîs(svin(jèi(òpr(i(vm(ol(kr(ji(r(viL
ni(s(l(wi(oîr(omî(jèmv(hs(ñlP(l(jhplè(hl(pr(vr(jr(ñps(ki(umv{(iA>)C9)R@)A)B9;£A=)A)B9:)bJ£BA)9:>P(A=)>J9:)A=)g@>)bG@)B@£gJ9)=>C@£=>GAg£g9)G@£
=>9bR)9:)=@b>P(BA)C@)A=);JF)AG=£9b9:;J(\(èmp(ñl(jl(ìi(lmêi(nm(kr(jl(ni(éhm(wpmì(ns(ìs(ñps(vi(ps(jhplè(hl(pr(jr(ñpsL
ki(umvP(ni(om(mnsó(jr(oîr(om(îmvJ(Vr(èm(nr(ñps(vipP(l(èmp(ñl(jl(ji(mjsv(lmws(êr(ìi(ns(ìio(
ñps(vi(pr(bGe)C9)R@)A)fAfeP(ìr(uîìr(s(=Ff)C9)R@)A)fAfeJ(Sjsv(hm(orP(lmêi(ns(jl(s(ñps(vi(ps(
HGFB)C9)R@)A)=>F):@(l(=9:R)C9)R@)A)=>F):@P(q9B£>JGA=J)AGF)g9=>)C9)R@)
A)=:A)R@P(èrm(s(ni(ès(ñps(vi(ps(èmk(èm(ìsó(ìi(ks(jèl(hr(wsî(nm(pr(ks(îs(ji(m(ñpr(umì(r(vi(ns(
îiè(ji(vrP(j(mw(s(pmv(nr(hm(kr(ñm(jhm(ìi(nr(êrì(ni(pr(îs(èi(l(nr(êi(nìlP(nñpJ(=BAGRP(gJ9k(
s(@ñ)BCF)H@(C9)R@){)G@)gFGR=P(r(hsv(PF)Q@£:FH)C9)R@)A)B)sîs(PF)Q@£=>A:H)C9)R@)A)=J@r
@BJ(R(kpl(oi(jhpr(niP(jl(ñpmh(nm(mêi(ès(ur(nìs(vrP(wpmì(ñps(vi(pr(l(èm(ìs(vr(ji(r(vi(nìl(ìi(
ñps(kiu(ns(ìi(wsm(hr(èm(ui(îsè{(A=)BCA9:£fG9;J>£bC@)AG(A=(HAeP(A=)P9)=@)GA)fC@£@)A=)
=:FgP(A=)>J9:£bC@A:)A=)A)gJ9)=>C@J
eik(nr( mk( nrì(êi(éísó( vm(ks(û(èr(gs(ìr( l( ñm(pik(wr(vr( ìi( km(kr(ur(nìi( iîi(vi(nr(hrP( oki(
nr(îr(s(vm(f@)C9)R@)>J@)fG@)A>J)Fi)A)il(C9;J>)A=)A)BA:>Ce)C9)R@)A:)A=B@:)C@)AiJ
Sjsv(vm(ks(û(èr(gs(ìr(ki(îr(T(ñm(vm(íl(wpm(ìrP(ñps(ki(ur(sîs(svi(ns(giP(ui(m(vr(ìi(êiL
jhm(km(kr(ur(nìi(ìmé(ìik(ni(mjm(ws(ni(ñm(èm(ìmì(ji(ñmì(vm(us(ñm(pi(kiP(mk(nm(jnm(hip(gs(ìlv(
èmv(ñr(pr(gs(m(ns(jrP(r(ìik(nm(jr(ui(ns(èmvP(èrm(éhm(jl(=PF)R@)A:H)=:9)Q@C)C9)R@)A)PA)H@)
B=ebJF)BA>JP(A=)fG9;J>)A:H)bFCH)A:H)JAGH)A=)H9)A)PF:H=P(A=)iG@=J)A:H)bC@A:)A=)A)
>F)F>)JBA)=>@)AHQ@G>P(A=)@ñ)b9)>9:;)A:H)HA:);@)GF)9)C@==)A:H)CF);9)bAC)A=)>J@)=CF)B@=)Fi)t@CCP(kmè(ji(up(îm(pih(èm(l(ki(îl(T(nr(îr(i(kur(
iîi(vin(hr(ñm(ui(r(nr(ui(ns(èmv(A:H{(A=)=9;):9){)bA:>)A=)Uscs)A:H)Ts^J
¨§(Qj(òmp(Zm(îr(L(vï(ósoóLîs(usnoP(górsnLjvm(èsno(gm(l(jsn(L(ói(pi(jói(rjP(jhsîî(
A=)C@A:)A:H){>)A=)A)GA)b9:;)HF;P(rnk(jhsîî(òr(shó(òlîJ

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
ôm(ks(û(èr(gs(ìr(ji(vm(ëi(s(up(és(hs(km(kr(ur(nìiv(ñps(îm(éèi(mk(pik(wi(sîs(ñpik(îm(éèsó(èmnL
jhplè(gs(ìr(nr(ñm(pik(wlP(èrm(l(A=)q@)@>)A=)>J@)g9:H)F:)A)iA)9GCe)bACP)HAeP(P@C>)C9)R@)9b@)
G@)AR)>F)gAGH)>J@);GF)GFC)J@)
=bJFFC)bFG)G9)HFG=)C9)R@)=JAGR=J(
`i(klè(gs(ìr(ji(mk(nm(js(nr(s(m(jhr(uîìr(nìi(iîi(vi(nr(hr(ñm(pik(wi(s(jr(ës(vr(nìi(jhplè(hlL
piP(r(ìr(uîìr(ji(nrh(nm(pi(⁄i(s(mk(r(vi(ni(îiè(ji(vr(s(mk(km(kr(ur(nìr(iîi(vi(nr(hrJ(ei(krn(
hsñ(musó(ñm(pik(ws(km(ws(ìr(ji(s(m(jhr(uîìr(nìiv(ñm(pik(wi(nmo(ui(ns(èr(A=(sîs(C9)R@P(èrm(nr(
ñps(vip(bA>rbA)9)F)F):@)H@)AiP(=J9>r=bA)G@HP(BFFr=bA)G@HP(@;;rgJ9)>@P(AC)PF:Hr=JAr
B@HP(shkJ(èm(ìi(jlP(pi(jñiè(hsu(nmP(pi(kl(èm(ur(ns(mw(îs(gs(jîi(ki(ísó(s(pr(r{(A=)bA)9)F)P(A=)H@)Ai)A=)A)=>F):@P(A=)=bA)G@H)A=)=J9>£BFFP(A=)gJ9)>@)A=)A:)@;;P(=JA)B@H)C9)R@)A:)
AC)PF:HJ(Xpl(os(hsñ(ji(jr(jhm(ìs(mk(svi(ns(gi(s(ui(ns(èr(C9)R@{(gA)9)q9)R@)iGA)P@P(HG@)A)PC9)R@)
>9)P@,)CF)GGeC9)R@)H9)G@b)>:@==l)O9)bA=)=FrC9)R@)B@G)=B@b)>9)Q@l)bA>rC9)R@)@e@=P(kmè(jl(nìs(óm(us(
ñl(ns(mw(îs(gs(iGA)P@)C9)R@)A)gA)9iP(>9)P@)C9)R@)A)HG@)APP(H9)G@b>)C9)R@)A)CF)GGe(sîs(A=)H9)G@b>)A=)
A)CF)GGeP(mJA)Q@n)@e@=)C9)R@)A)bA>P(mJA)Q@n)A)B@G)=B@b)>9)Q@)C9)R@)O9)bA=)=FJ(ôi(⁄l(hsvP(ni(èi(
pi(ês(jr(vm(îs(êi(nr(jèpr(íi(ni(ñm(pik(wiP(r(sñrè(hm(ns(jlJ(Vr(èru(ìi(pi(gs(vm(ñps(kiu(C9)i@)C9r
R@P(èm(ìs(l(jsn(hro(vs(C9)i@)C9)R@)bF)eAGH(ni(ws(vm(oîm(kr(ji(ñpi(òmp(vl(îs(éi(l(bF)eAGH)
C9)R@)C9)i@(sîs(jsn(hro(vr(f9GHrC9)R@)B@bR=(l(B@bR=)C9)R@)A)f9GHP(uií(ws(mnr(jr(vm(vm(oîr(kr(
ji(hprn(jòmp(vs(éi(l(oîr(omî(jèl(ñm(pik(wl(m>Fn)B@bR)C9)R@)A)f9GHJ(Sjsv(hm(orP(vm(ol(íi(ìi(
s(m(jhr(us(hs(s(hip(gs(ìlv(èmv(ñr(pr(gs(m(nsjP(èrm(l(s(pr(l(C9)R@)bJACR)A:H)bJ@)@)=@J(^l(ns(mw(îsè(
mui(ñm(pik(wi(ìi(A=)H9i)i@)G@:>)A=)bJACR)A:HSiGFP)bJ@)@)=@P(ñr(ìi(l(s(m(jhr(uîìr(nìi(ìik(nmo(
nìi(nmo(ki(îrP(ñpm(vi(nìin(s(ñm(pik(wi(ns(ui(nsèJ(UñrèP(mur(èus(ñps(vi(ps(jl(up(îm(pih(èsJ(
ômp(òm(jsn(hrè(jsê(èi( ñpm(vi(ni( l( ñm(pik(wr(vr( jl( ui(m(vr( pr(nm(up(jni( s( mk(nm(ji( ji(
nr(vmp(òm(îm(éèi(s(jsn(hrè(jsê(èi(ñpm(vi(ni(l(jhplè(hl(psJ(ür(kr(ji(pr(ks(m(ñps(ki(us(vrP(mni(
lèîìl(êl(ìl(èmv(ñr(pr(gs(ìi{((=PF)F>)J@G)>JA:)=9CRP(gJ9)>@G)>JA:)>J@)P9=>P(iA)=>@G)>JA:)A)=@>)
Fi)>GAi){b)C9;J>=P(=JAG)B@G)>JA:)A)=@G)B@:>I=)>F)F>JJ(
¨å(dm(gm(lîk(ói(òmp(oih(hórh(opiin(kpijjP(óm(sh(gîlno(hm(hói(glp(ui(mò(óip(
ósñj(rnk(órv(ñi(pik(óip(pln(nsno(rnk(jóm(ik(hói(wi(r(lhï(mò(óip(jóm(lîL
kipjJ(_J9)>@G)>JA:)>J@)P9=>J
ümk(svi(ns(grP(vmp(òm(jsn(hrè(hsê(èi(hprn(jòmp(vr(gs(ìi(ñmk(pr(l(vi(ur(ìl(ñpm(vi(nl(wpm(ìrP(
hìJ(kr(mni(vm(ol(ws(hs(l(ìik(ns(ns(sîs(vnm(ës(ns{(fG9;J>)A=)JFCCef@G)G9)@=P(A=)fF:e)A=)=R@r
C@)>F:=P(H9)=AB)B@)AG)C9)R@)GAf)f9>=P(PF)>9)F:)C@==)C9)R@)gAñ)gFGR=P(=JAGB)A=)9b9b)C@=P(A=)BA)C@)
A=)>J@);CA)b9)@G=s([îr(omî(jèi(ñm(pik(wi(km(um(îìr(ur(ìl(ñpm(vi(nl(oîr(omî(jèmo(upi(vi(nr(s(
us(kr{
¨ã(( Vói(gósî(kpin(rpi(H9)=AB)B@)A)G9:;)C9)R@)GAf)f9>=(
¨â(( Q(órnkï(s(rpkP(iuin(mni(rj(sn(gr(ñr(wîi(rj(`sn(gi(snkP(=>FFH)F)C9)R@)A)
bFB)B@G)C9;J>JF)@Gr>JA:r_J9)>@J
å§I

T:A)`QA:H@R9û
¨I)) [J@)J9;J)A=)A)R9)>@)i@)@)C9:;(îrjhj(ñpi(gs(jiîï(hm(krïjJ
¨KM(Un(gin(jik(wï(ñr(hpm(ns(sno(rp(hsg(îi(sn(hói(ñr(ñip(wï(Rvlo(ôrp(psik(ìm(lp(nrL
îsjhJ(Uh(rj(ói(r(kîs(nikP(shó(=C@rA=rArvGA:)R9@rtF)g@GHr=@)ñ)>

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
pik(ws(8(¨K(èpi(r(hsu(nsvP(sîs(ñm(ih(jèsvP(ñm(pik(wr(vr(¨inoJ(gpi(r(hs(ui(js(vs(îij(èm(ìi(jurL
èm(kniu(nm(nr(jhr(ìl(èr(èm(l(om(um(plP(hr(èm(s(l(ñs(jr(nsv(hiè(jhm(us(vrP(nr(pm(ês(hm(ènìs(ëiuL
nm(jhsP(s(¨H(ljhr(îìi(ni(ñm(pik(wi(¨inoJ(gmn(uin(hs(m(nr(îs(ik(js(vs(îij(èm(ìi(jl(us(éi(èmn(uinL
gs(m(nr(îs(m(ur(niP(r(êi(jhm(s(ki(îs(vsê(nm(nr(êinì(jès(îiè(js(èr(îs(m(ur(niJ(üpi(r(hsu(nr(ñm(pik(wr(
ìi(pi(gs(vm(>F);CFg)C9)R@)A)BGF)P9)=@P(kmè(ìi(ljhr(îìi(nr(A=)b@)A=)A)f)>F:J(Wr(pru(nmP(
jui(ljhr(îìi(ni(ñm(pik(wi(jl(nr(jhr(îi(èrm(èpi(r(hsu(niP(r(hiè(jl(ji(upi(vi(nmv(êi(jhmv(lñmL
hpi(wmv(ljhr(îs(îi(l(ìi(s(èl(s(sks(m(vr(hs(m(ur(îiJ
Ri(vrn(hsê(èr(sks(m(vr(hs(r(gs(ìr(ñm(pik(wi(mk(nm(js(ji(nr(ñpm(gij(l(èm(vi(ji(nìin(jvsL
jrm(lkr(îìr(ur(mk(ñpik(us(kîìs(umo(nr(êi(nìrP(hìJ(nr(êi(nìr(èm(ìi(kr(ìi(èmv(ws(nr(gs(ìr(jvs(jîr(
èmv(ñm(ni(nr(hrP( hi( mnr( ñpi(jhr(ìi( kr( wl(ki( jr(vm(m(wìr(énìs(ur( ¨^p(ísí( KIIâ{( âçJ( ür(kr(
om(um(ps(vm(m(sks(m(vr(hs(r(gs(ìs(s(pr(rP(vm(ëi(vm(pr(îs(èm(ur(hs(kur(hs(ñr(sîs(ns(umr(sks(m(vr(hsL
r(gs(ìi(8(ñmh(ñl(nr(sks(m(vr(hs(r(gs(ìrP(èr(kr(ñps(ki(û(ns(jr(nìl(s(pr(r(ni(èm(ps(jhs(vm(nsìik(nl(
nìi(om(ul(jr(jhru(ns(glP(sîs(ki(îs(vsê(nrP(rèm(ìi(jr(vm(kim(èmv(ñm(ni(nr(hr(s(ol(wsm(jum(ìi(
nr(êi(nìiP(ñr(mjhr(îi(vm(ëi(vm(lñm(hpi(ws(hs(r(ki(û(ns(jr(nìi(nr(êi(nìrJ(^pm(gij(ñps(èm(vi(
km(îr(s(km(ol(wîìi(nìr(nr(êi(nìr(îiè(ji(vi(sîs(òpr(i(nr(s(ur(ji(fki(èpi(vin(hr(gs(ìrf(¨hip(vs(ns(
ñpi(vr(^p(ísí(KIIâ{(âçP(âãJ(Urèm(ji(sks(m(vr(hs(r(gs(ìr(vm(ëi(mk(s(opr(hs(èmk(ws(îm(èmo(mk(
iîi(vi(nr(hr(òpr(iP(ki(èpi(vin(hr(gs(ìr(ki(îr(Q(ìi(s(l(ih(nm(pih(èr(s(hr(èur(ìiP(nr(ñps(vipP(ñmL
pik(wr(A=):>e)A=)A)iG)bA)R@P(èm(ìr(svr(nr(êi(nìi(fgprïfP(kmè(ìi(nrh(nm(êi(éír(kiL
èpi(vin(hr(gs(ìr(ki(îr(TJ(ümk(ñm(pik(ws(ji(loîr(umv(ìr(uîìr(ki(îs(vsê(nr(sks(m(vr(hs(r(gs(ìrP(ìip(
wrp(ìi(krn(mk(iîi(vi(nr(hr(r(kp(ër(ur(jum(ìi(nr(êi(nìiP(hi(ji(nr(mjnm(ul(nìi(or(ki(û(ns(éi(
nr(êi(nìi(s(pr(rJ(Wi(ès(mk(hr(èusó(ñps(vi(pr(jl(A=)b@)A=)A)f)>F:l)H)A=)GA9:l(shkJ(ci(îs(ès(kim(mur(èusó(
ñm(pik(ws(mk(nm(js(ji(nr(ñps(ki(ui(jr(ni(or(hsu(nsv(rjm(gs(ìr(hsu(nsv(nr(êi(nìivP(èrm(éhm(jl(
oîl(ñmjh(s(îl(kmjhJ(U(ñm(pik(ni(ñm(jhm(ìr(nìr(îm(osê(ni(ui(i(s(vi(⁄l(s(ump(nmo(s(gsîì(nmo(kmL
vi(nrP(mus(s(pr(s(up(éi(jum(ìl(òlnè(gs(ìl(s(svr(ìl(nr(êi(nìi(èm(ìi(ji(îr(èm(vm(ëi(pr(l(vi(hsJ(
\(ni(èsv(ñm(pik(wr(vr(èm(ìi(ji(èm(ps(jhi(kr(ws(ji(ñm(ìr(êr(îm(nr(êi(nìi(s(pr(r(km(éîm(ìi(
km(ljhr(îìs(ur(nìr(sjhsóP(rîs(jl(sjhm(upi(vi(nm(s(ump(ns(km(vi(ns(l(s(ui(jnmì(vi(ps(s(ol(ws(îs(
jum(ìi(nr(êi(nìiJ(Vr(èus(jl(pi(gs(vm(jñm(ìi(us(C9)R@)J@CCl)C9)R@)PAHl)C9)R@)A)C9bl)C9)R@)A)
PA):9)Abl)C9)R@)A)PAH)PA:J(\(ñm(pik(wr(vr(l(èm(ìs(vr(ji(ìr(uîìr(ìl(nìs(óm(ur(ìi(òlnè(gs(ìr(kr(
ñm(ìr(êr(ìl(nr(êi(nìi(hip(gs(ìlv(èmv(ñr(pr(gs(m(ns(jrP(mk(nm(jnm(mjm(ws(ni(ñm(èm(ìmì(ji(ñmì(vmL
us(ñm(pi(kiP(r(nr(êi(nìi(ìi(fuipï(vlgóf(sîs(fr(îmhfJ(Wi(ès(mk(sîl(jhpr(hsu(nsó(ñps(vi(pr(jl{(
GA:H)
C9)R@)gAñ)gFGR=P(èrm(s(P@C>)C9)R@)9b@(l(mk(nm(jl(nr(P@C>)C9)R@)f)>@GJ(R(kpl(oi(jhpr(niP(
èr(kr(ji(pr(ks(m(rn(hm(ns(vs(ìsP(wpmì(ñpm(nr(⁄i(nsó(ñps(vi(pr(ìi(nrh(nm(vr(nìsP(r(ni(nr(hrn(ìi(
ååK

T:A)`QA:H@R9û
wpmì(ñm(pik(ws(èmk(èm(ìsó(ìi(rn(hm(ns(vs(ìr(ui(r(nr(r(ñpm(vi(nl(jr(vm(ìik(nmo(iîi(vin(hrP(
èrm(nr(ñps(vip(l(;@>)F:)C9)R@)A)JF))ACF:;)A=)@A=9Ce)A=)bA>=)9:)>J@)=AbRs(
\(òmp(vs(pr(nìl(s(pr(l(vi(ur(nìl(ñm(pik(wsP(ur(ënl(lîm(ol(sopr(nr(nìi(m(jui(hl(èm(ìi(
nrv(mvm(ol(ír(ur(kr(lmñ(éhi(vm(ëi(vm(pr(l(vi(hs(ñm(pik(wlJ(Vr(èm(ji(l(nìs(vr(vm(ol(
nr(ís(sjhm(psì(jèi(îsê(nm(jhsP(îsê(nm(jhs(s(as(wîs(ìi(sîs(vs(hm(urP(sîs(êrè(jhi(pi(m(hs(ñs(èm(ìs(ji(uiL
l(ìl(r(ni(èi(nr(pm(ki(¨bsnèLQp(jmu(jès(HMMH{(çMJ(Wr(pru(nmP(èm(ìs(omk(ñm(ìrv(kr(ji(
lñm(hpi(ws(nr(vi(jhl(s(ump(nmo(km(vi(nrP(vm(pr(ñm(jhm(ìr(hs(ni(èr(ui(r(s(vi(⁄l(ñmì(vm(ur(l(
ñm(pik(wsP(èm(ìr(hpi(wr(kr(wl(ki(km(umîì(nm(mês(oîik(nr(r(om(ump(ns(èiJ(
^m(pik(wi(ji(êi(jhm(èm(ps(jhi(pr(ks(ñm(ìr(êr(ur(nìr(nr(êi(nìr(pi(ês(s(ni(hpi(wr(r(ni(vr(ps(urL
hs(hl(nìs(óm(ul(òlnè(gs(ìlJ(api(ksn(¨KIIä(hup(ks(kr(ljhr(îìi(ni(ñm(pik(wi(r(ñpr(um(ñpi(jhr(ìl(
kr(wl(kl(ñm(pi(⁄i(nìrP(srèm(r(kp(ër(ur(ìl(jsn(hrè(hsê(èl(s(îm(osê(èl(òmp(vl(ñm(pik(wiP(hi(kr(
s(vi(⁄l(s(pr(r(gJ9)>@(s(gJ9)>@)A=)=J@)@>(sîs(FCH(s(FCH)A=)o@>)J@)A=)=J@)@>P(nr(êi(nìi(
ìi(vnm(om(ìr(êi(ni(om(rèm(lñm(hpi(ws(vm(jr(vm(gJ9)>@J(Sjsv(éhm(ñm(ìr(êr(ur(nr(êi(nìi(ñpsL
ki(urP(hip(gs(ìlv(èmv(ñr(pr(gs(m(nsj(vm(ëi(kr(ñm(ìr(êr(ur(sîs(wîs(ëi(mnr(êr(ur(oîr(omîJ(ümvL
ñr(pr(hlv(¨hìJ(s(ump(ns(km(vin(ñps(km(nm(js(lèlñ(nmv(nr(êi(nìl(ñm(pik(wi(nmo(òpr(i(vr(
lñpr(um(èm(nm(hr(hsu(nsv(nr(êi(nìiv¥(¨Svr(sí(HMMH{(KKäJ
\ñm(hpi(wmv(ñm(pik(wi(ji(hr(èm(⁄i(vm(ëi(ñm(jhs(ís(s(ól(vm(ps(jhsê(ès(iòi(èrh(s(hm(ji(nrìL
êi(éíi(ês(ns(lñm(hpi(wmv(spm(ns(ìiJ(\(hmv(jvs(jîlP(ñm(pik(wi(vm(ol(ws(hs(ês(nìi(nsê(ni(¨inoJ(
iAb)>

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
nr(ñmì(vm(us(vr(s(nr(éio(ni(ñm(jpik(nmo(mèpl(ëi(nìr(s(mns(lèîìl(êl(ìl(èr(èm(ës(us(hr(èm(s(
ni(ës(us(juihP(jr(nìs(óm(usv(û(sê(èsv(s(fèr(prè(hip(nsvf(mjm(ws(nr(vrJ
Qnr(îs(mv(èmp(ñl(jr(lmêi(nm(ìi(kr(jl(kr(îi(èm(nrì(wpmì(ns(ìi(s(nrì(pr(nm(up(jns(ìi(ñm(pikL
wi(mni(èm(ìi(ñps(ñr(kr(ìl(oîr(omî(jèmv(hs(ñlP(r(hsv(jîi(ki(ñm(pik(wi(ñps(kiu(jèmo(hs(ñrP(kmè(
jl(svi(nsê(èi(ñm(pik(wi(kr(îi(èm(pi(⁄iP(r(ñps(îm(éèi(nrì(vr(nìi(lêi(jhr(îiJ(Vr(èm(⁄iP(lmñ(éhi(nm(
liu(ésP(hpm(kiî(ns(hsñ(ñm(pik(ws(ìi(ni(l(ñm(pi(ks(um(ñpm(klè(hsu(ns(ìs(mk(kum(kiî(nmoP(èm(ìs(ìi(
ljhr(îìi(ns(ìs(s(èr(prè(hi(ps(jhsê(ns(ìs(r(om(ump(ns(ìi(sèJ
ümk(oîr(omî(jèsó(ñm(pik(ws(nrì(êi(éíi(ji(vm(ks(û(èl(ìi(hsñ(èm(ìs(svr(jr(vm(oîr(omî(l(ki(îl(
Q(s(èmk(nìsó(svi(ns(gr(l(èmv(ñîi(vin(hr(gs(ìs(ñpik(îm(or(A=)sîs(C9)R@)vm(ëi(ws(hs(ñpi(vm(ks(ûL
èm(ur(nr(¨svi(ns(gmvP(ñps(ki(umv(sîs(wpm(ìiv(sîs(ñmjh(vm(ks(û(èm(ur(nr(¨nrì(êi(éíi(ñpik(îmL
éèmv(jsn(hro(vmvP(r(up(îm(êi(jhm(ji(vm(ol(nr(ís(s(mwi(jhplè(hl(pi(r(ìik(nmJ(Wr(jl(ñpmh(
nìs(vrP(ñmjh(vm(ks(û(èr(gs(ìrP(èrm(ns(ñps(vi(ps(jr(ñmjh(vm(ks(û(èr(gs(ìmv(s(ñpi(vm(ks(û(èr(gs(ìmv(
l(mèus(pl(oîr(omî(jèsó(ñm(pik(ws(jr(mwìiè(hmv(sîs(ñps(îm(éèmv(mk(pik(wmv(ns(jl(hr(èm(lmwsL
êr(ìi(niP(ui(pm(urh(nm(wmo(hm(or(éhm(jl(mus(hs(ñm(us(uií(nr(ni(ès(nr(êsn(vm(ks(û(èm(ur(ns(kmL
krh(nsv(mwìiè(hmv(mk(nm(jnm(ñps(îm(éèmv(mk(pik(wmvJ(^mjh(vm(ks(û(èr(gs(ìr(èmk(mjhr(îr(hps(
hs(ñr(ñm(pik(wsP(lmñ(éhi(nm(oîi(kr(nm(ìi(ui(m(vr(pih(èrP(kmè(ji(jhplè(hl(pi(jr(ñpi(vm(ks(û(èrL
gs(ìmv(s(ñmjh(vm(ks(û(èr(gs(ìmv(ni(ìr(uîìr(ìlJ(öhr(us(éiP(èmk(ñps(îm(éèmo(hs(ñr(ñm(pik(ws(pih(èm(
ji(ìr(uîìr(ìl(ws(îm(èr(èui(vm(ks(û(èr(gs(ìiJ(R(kpl(oi(jhpr(niP(ñpi(vm(ks(û(èm(ur(nìi(svi(ns(gi(l(
èmv(ñîi(vin(hr(gs(ìs(ñpik(îm(or(A=(sîs(C9)R@(l(ñps(kiu(jèsv(s(svi(nsê(èsv(ñm(pik(wr(vr(ìi(up(îm(
r(jhl(ñîìi(nmJ
Uj(hpr(ës(ur(nìi(ôr(ps(ìi(Svr(sí(¨HMMH(èm(ìi(ìi(lèîìl(ês(ur(îm(ñpm(l(êr(ur(nìi(ljhr(îìi(nsó(
ñm(pik(ws(l(in(oîi(jèmv(s(óp(urh(jèmv(ìi(s(èl(nr(èmp(ñl(jl(ñps(èl(ñîìi(nmv(ñp(uin(jhui(nm(
s(piê(ns(èrP(lèr(r(îm(ìi(nr(hm(kr(jl(oîr(omî(jèi(ñm(pik(wi(l(in(oîi(jèmv(ìi(s(èl(km(wpsv(
ki(îmv(mopr(ns(êi(ni(nr(oîr(om(îi(èrm(éhm(jl{((f@P(JA)Q@P(i@@CP(@A>P(HG9:R(s(CF)FR)C9)R@J(ôiL
⁄l(hsvP(srèm(mui(ñm(pik(wi(ìi(jl(wpmì(ns(ìi(mk(mjhr(îsóP(jl(ki(ís(ñm(èmp(ñl(jl(ñps(èl(ñîìi(nmv(
s(jr(upi(vi(ni(wps(hrn(jèi(ènìs(ëiu(nm(jhsP(èpi(r(hsu(ni(ñm(pik(wi(jr(kp(ëi(vnm(om(és(ps(s(pr(nmL
îs(ès(ìs(ns(oîr(om(îr(èm(ìsv(ji(s(pr(ër(ur(kim(Q(ñm(pik(wiJ(
(Xmè(ni(ès(rlhm(ps(jvr(hpr(ìl(kr(jl(ñm(pik(wi(èîs(éis(s(èrm(hr(èui(mk(îs(èi(îm(éio(jhs(îrP(
éhm(ji(nr(pm(ês(hm(mk(nm(js(nr(ljhr(îìi(ni(ñm(pik(wiP(ñr(só(jhm(or(ni(èm(ps(jhi(¨Svr(sí(HMMHP(
kpl(os(só(ñrè(èm(ps(jhi(nr(èpi(r(hsu(ni(nr(ês(niP(ìip(jl(ui(m(vr(jîs(èm(us(hiP(hi(só(vm(ks(û(èl(ìlP(
hprn(jòmp(vs(él(sP(èrm(éhm(jvm(us(ki(îsP(hr(èm(jhur(pr(ìl(nm(uiP(jnr(ëni(s(up(îm(ièj(ñpi(jsu(ni(
jîs(èiJ(\ñpr(um(wmo(hi(èpi(r(hsu(nm(jhsP(opr(ns(gi(ñm(pik(ws(ji(ñm(vi(pr(ìl(s(r(hm(jl(èpi(r(hsuL
ni(ñm(pik(wi(vr(nìi(sks(m(vr(hsê(niP(ñmk(îm(ëns(ìi(jl(ñpm(vi(nr(vr(s(hprn(jòmp(vr(gs(ìr(vrP(r(
l(ènìs(ëiu(nsv(hiè(jhm(us(vr(êrè(s(ljhr(îìi(ni(ñm(pik(wi(êi(jhm(km(ws(ìr(ìl(kpl(or(ês(ìi(mw(îs(èiP(
lèpr(éi(ni(jl(km(krh(nsv(iîi(vin(hs(vr(s(nr(ni(ès(nr(êsn(mni(m(ws(êi(niP(ñr(hr(èm(ki(îmv(s(
èpi(r(hsu(niJ(
ååç

T:A)`QA:H@R9û
,1)-3*)43*
apiksnP(dJ(¨KIIäJ(Tmvñrpsjmnj(rnk(jsvsîijJ(89:;ABJFG)A:H)[JFJ(Trvwpskoi{(Trvwpskoi(\nsuipjshï(^pijjP(KäãLHMKJ
^sipsnsP(^J(¨HMMâJ(Rsvsîi(sn(Ynoîsjó{(bpmv(kijgpsñhsmn(hm(hprnjîrhsmnJ(cGb9bA)
TBC9bAHA)A)CA)cFP9RA)9)BGA;PA>9RA)G@X9J(Rpivjès(ürpîmugsP(Wmus(Rrk{(Ukrurêèr(
ènìsërpnsgr(õmprnr(RhmìrnmusírJ
^pmkrnmusíLRhrnèsíP(XJ(¨HMMäJ(\9QF>9:E@)F) ¥=@) [J@PJ( å hó ( ikshsmnJ(
Sòmpk{(Sòmpk(\nsuipjshï(^pijjJ(
7H7#;>7H:=I;?
åå§
RUôUZYR(UW(ZUVY`Q`†(VY¢VR(UW(YW[ZURd
a9@:>)A=)A)fG9bR(rnk(hómji(shó(hói(îsnèsno(mpk(
fîsèif(¨iJoJ(>F)=BG@AH)C9R@)g9CH{G@J(Vói(gmpñlj(mn(ósgó(hói(pijirpgó(órj(wiin(gmnklghik(
gmvñpsjij(irvñîij(mò(jsvsîij(òpmv(jiuinhiin(vmkipn(apshsjó(îshiprpï(mpèj(mò(ksòòipinh(
oinpijJ(
Vói(ûpjh(górñhip(mò(hósj(ñrñip(ñpmuskij(kiûnshsmnj(rnk(hóimpihsgrî(wrjij(òmp(hói(hmñsgP(
jómsno(hói(gmnnighsmn(wihiin(jsvsîij(rnk(vihrñómpj(òpmv(r(gmonshsui(ñipjñighsuiJ(
Un( rkkshsmnP( sh( ñpijinhj( jmvi( wrjsg( górprghipsjhsgj( mò( jsvsîij( sn( hói( Ynoîsjó( îrnolroiJ(

^S`YXaY(\(üWeUYcWUô(VYüRVScUôQ(WQ(YW[ZYRüSô(eYõUü\
Vópmloó(gmpñlj(jhlkïP(hói(jigmnk(górñhip(ijhrwîsjóij(jhplghlprî(rjñighj(mò(jsvsîijP(óipiL
rj(hói(hóspk(osuij(snjsoóh(snhm(hóisp(jivrnhsg(rjñighjP(òlnghsmn(rnk(ljroiJ(Vói(ûnrî(górñhip(
ñpijinhj(hói(gmngîljsmnj(pirgóikJ(
Y@e)gFGH={(gmvñrpsjmnP(gprhsui(gmvñrpsjmnP(gmonshsui(îsnolsjhsgjP(vihrñómpJ(
Qnr(Uurnkièsí
csjmèr(éèmîr(vmkipnmo(wsnsjrP(aimoprkP(Rpwsìr
iLvrsî{(vmìJñmhñsjÀovrsîJgmv
ååå

ååã

ALEKSANDRA IZGARJAN
*X*,1§*'a3-[Z.*'a31¢*'*L3Z*0-31¢{1b'*4)Z3{1'
Z+û*[,û-X1b'4'/3+1û1'Z.'lO'.Z'mmO'`Z.1X-
\(êîrn(èl(jl(rnr(îs(s(pr(ns(ñpi(um(ks(ñps(êr(ròpm(r(vi(psê(èsó(ènìs(ëiu(ns(gr(èm(ìs(jl(mw(ìr(uîìi(ns(l(RpL
ws(ìs(l(ñi(ps(m(kl(mk(KIIMJ(km(HMMHJ(om(ks(ni(s(nr(ui(ki(ns(ñps(vi(ps(ni(r(ki(èurh(nmo(ñpi(um(⁄i(nìr(
nr(îiè(jsê(èmvP(jsn(hrè(jsê(èmv(s(ñpro(vr(hsê(èmv(ns(umlJ(îr(nrè(lèr(l(ìi(nr(hm(kr(ìi(nrì(êiL
éíi(ñp(m(wîiv(ni(km(umîì(nm(ñm(nr(ur(nìi(ìi(s(èr(mps(os(nr(îr(s(ñpi(um(kr(èm(ìi(pi(lî(hs(pr(km(jîmu(nsv(
ñpi(um(⁄i(nìivP(jhsî(jèsv(ni(ñm(kl(krp(nm(jhs(vr(s(pi(os(jhrp(jèsv(ñm(vi(pr(nìiv(ñpi(um(kr(l(mk(nm(jl(
nr(mps(os(nrîJ(^pi(um(ks(hiîì(èi(hr(èm(⁄i(ñm(èr(l(ìl(ni(ñm(nr(ur(nìi(sjhm(ps(ìi(s(èlî(hl(pi(ròpm(r(vi(psê(èi(
r(ìik(ns(gi(éhm(ji(us(ks(l(ñm(opi(énmv(ñpi(um(⁄i(nìl(èlî(hl(pm(îm(éès(mwm(ìi(nsó(pi(ês(s(jhsî(jèsó(mk(îs(èr(
èrm(éhm(ìi(ni(òmp(vrî(ns(om(umpJ
YCE

TC@R=A:HGA)`k;AGEA:
ër(ìr(s(îs(èm(ur(ènìs(ëiu(nmo(ki(îr(l(ñpi(um(klJ(Urèm(murì(ñm(jhl(ñrè(ñmk(pr(l(vi(ur(ñm(nrL
uîìr(nìi(mk(pi(⁄i(nsó(hs(ñm(ur(ni(r(ki(èurh(nsó(ñpi(um(krP(ui(m(vr(ìi(ur(ënm(sj(hr(ís(js(hl(r(gs(ìi(l(
èm(ìs(vr(ji(mns(ìr(uîìr(ìlP(èrm(s(vm(ol(íi(pr(îm(oi(nìs(óm(umo(nr(jhrn(èrP(èr(èm(ws(ji(hr(èur(
ni(r(ki(èurh(nr(pi(éi(nìr(s(wi(oîr(l(wl(kl(ísv(ñpi(um(ks(vrJ(
lO')Z'X1'0Z'31'/ZXÄ'¿3-'Y1')*')1[Ä'a3-'[Z.'X*'.-'ó.*'Z+'3*'.Z'[1¨
Qnr(îs(r(ñpi(um(kr(ñps(êi(Vm(ns(ôm(ps(jmn(sn(hi(pi(jrnh(nr(ìi(ñpi(jui(or(wmo(hm(or(éhm(
ñm(èr(l(ìi(èr(èm(ni(èr(ñpi(um(ks(îrê(èr(pi(éi(nìr(vm(ol(kr(nr(pl(éi(ènìs(ëiu(nmLjhsî(jèi(mkL
îs(èi(mps(os(nr(îrJ(Xim(nr(pr(hsu(ni(jhpr(hi(os(ìi(Vm(ns(ôm(ps(jmn(l(mumì(ñps(ês(ìi(kr(jui(km(
jr(vmo(èpr(ìr(s(wi(or(ur(ki(û(ns(jr(nìi(pr(ji(oîru(nsó(ìl(nr(ès(nìr(ñps(êiJ(Vs(vi(éhm(nr(um(ks(
js(hl(r(gs(ìi(s(èm(vin(hr(pi(èm(ìs(jl(hs(ñsê(ns(r(ñps(ñrk(ns(èi(wi(îi(sîs(gp(ni(pr(ji(s(nr(s(vi(nsê(nm(
só(ñm(ui(l(ìi(jr(oîru(nsv(ìl(nr(ès(nìr(vrP(Vm(ns(ôm(ps(jmn(nr(um(ks(ês(hr(m(gr(kr(ji(jui(upiL
vi(ñs(hr(èm(ìr(ìi(mk(nìsó(wiî(ès(nìrP(r(èm(ìr(gpn(ès(nìrJ(Rr(vsv(hsv(ês(hr(îrg(ìi(ñps(vm(prn(kr(
ñpi(s(jñs(hl(ìi(jumì(mk(nmj(ñpi(vr(ìl(nr(ès(nìr(vrP(èrm(s(jum(ìi(jhr(um(uiP(ñpik(jhr(uiP(r(vmL
ëkr(s(ñpik(pr(jl(kiP(èr(kr(ìi(pr(jr(l(ñs(hr(nìlJ(ôi(⁄l(hsvP(uií(nr(ñm(êih(èl(hiè(jhrP(Wr(ki(ëkr(
Sw(pr(km(usí(lnm(js(l(ñpi(umk(mk(pi(⁄i(nìi(pr(ji(èm(ìi(ni(ñm(jhm(ìs(l(mps(os(nr(îlJ(`i(êi(ns(gr(l(
mps(os(nr(îl(oîr(js{(¥JJJmni(mò(hói(hósnoj(jói(jrsk(rj(hórh(hóiï(ni(uip(rj(óik(hói(sp(ór(sp(
rnk(hóiï(jviî(îik(òlnnïJø(¨çãKJ(õr(vi(ns(gl(>J@eP(Wr(ki(ëkr(Sw(pr(km(usí(ñpi(um(ks(èrm(
bG:)R9):E@{(¥JJJ(ìik(nr(mk(jhur(ps(èm(ìi(vs(ìi(pi(èîr(ìi(kr(gpn(ès(nìi(ns(èrk(ni(ñi(pl(èm(jl(s(
kr(vs(ps(él(êlk(nmJø(¨KKâ(s(hs(vi(mk(pi(⁄l(ìi(kr(ìi(ìik(nr(mk(ñp(m(hr(om(nsjh(ès(nìr(gpn(ès(nìr(
mk(l(s(vr(ìl(ís(ñps(îs(èl(ês(hr(m(gl(kr(km(èpr(ìr(ñps(ñm(uih(èi(jrv(mk(om(ni(hr(ñs(hr(nìr(ui(r(nr(
r(pr(jnl(ñps(ñrk(nmjh(îs(èm(ur(s(ñp(m(wr(kr(mh(èps(ìi(nr(êi(nìi(rlhmp(ès(nsó(rîl(s(ìr(èm(ìi(ji(
hs(êl(pr(jiJ(ôi(nìr(ìl(ís(l(ñpi(um(kl(kim(nr(pr(hsu(ni(jhpr(hi(os(ìi(èm(ìr(ñm(jhm(ìs(l(mps(os(nrî(nmv(
ki(îlP(Wr(ki(ëkr(Sw(pr(km(usí(ñmh(èm(ñr(ur(jrv(hi(viîì(ñps(êi(s(vi(nìr(nìi(nm(ês(hr(nìiJ(
Sjsv(mumo(ñp(m(wîi(vrP(ñpi(umk(jr(kp(ës(vnm(om(wpmì(ni(ñps(vi(pi(ni(r(ki(èurh(nmo(ñpiL
um(⁄i(nìr(nr(îiè(jsê(èmvP(jsn(hrè(jsê(èmv(s(ñpro(vr(hsê(èmv(ns(umlJ(Wr(jusv(musv(ns(umL
s(vrP(opi(éèi(ji(ìr(uîìr(ìl(wmo(ni(ñm(nr(ur(nìr(nr(êi(nìr(pi(ês(s(mps(os(nr(îrP(èrm(s(wmo(
km(jîmu(nmo(ñpi(um(⁄i(nìr(l(jîl(êr(ìi(us(vr(èr(kr(ji(hr(èusv(ñm(jhlñ(èmv(vi(nìr(nr(êiL
nìi(mps(os(nr(îrJ(^p(um(íi(vm(ji(ñm(r(wr(us(hs(ñps(vi(ps(vr(ni(ñm(nr(ur(nìr(nr(êi(nìr(pi(ês(l(
in(oîi(jèmv(ìi(s(èlJ(Su(ki(vm(pr(vm(ìmé(ìik(nmv(nr(ñm(vi(nl(hs(kr(wmo(mopr(ns(êi(nmo(
ñp(m(jhm(pr(ns(jvm(l(vm(olí(nm(jhs(kr(nr(ui(ki(vm(jui(opi(éèiP(uií(íi(vm(ji(hpl(ks(hs(kr(nrL
ui(ki(vm(ñm(ìi(krn(ñps(vip(s(ñps(vrp(nsó(opl(ñr(pi(êsJ(
Wrì(pi(ñpi(in(hr(hsu(ns(ìs(ñps(vip(ni(r(ki(èurh(nmo(ñpi(um(⁄i(nìr(ñps(ki(ur(ìi(jur(èr(èm(ñpsL
kiu(P@A:(¨kAFl)kCF)RF)fA:(èm(ìs(ìi(ñm(opi(énm(ñpi(um(⁄in(l(gi(îmv(hiè(jhlJ(\(pi(êi(ns(gs{(
¥^m(mp(îsh(hîi(ospîj(óm(òm(loóh(hói(sp(ln(gîij(mòò(wlh(îm(m(èik(hm(loó(hm(ljP(rnk(virnø(
¨çãH(ñps(kiu(P@A:(ñpi(ui(kin(ìi(nr(jîi(ki(ís(nr(êsn{(¥erk(ni(ki(umì(ês(gi(èm(ìi(jl(ji(wmL
ps(îi(jr(jum(ìsv(jhps(êi(us(vrP(rîs(nr(nrj(oîi(kr(îi(jhpm(omP(s(sn(òi(ps(mp(nmø(¨KKäJ(Xi(umì(ês(gi(
ååä

QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(SaeQcZeYWUd(\(JJJ
ns(jl(oîi(kr(îi(nr(nìsóP(uií(jl(nìs(vr(s(oîi(kr(îi(mopl(wi(îi(s(îmw(niP(r(ni(jhpm(om(s(sn(òi(psL
mp(nmJ(^ps(kiu(9:)i@)G9)FG):F(mjsv(éhm(ni(ñpi(nm(js(nr(êi(nìi(mps(os(nr(îrP(lñm(hpi(wîìin(ìi(èrm(
ñps(îmo(r(nr(êsn(s(ni(vm(ëi(kr(ji(lñm(hpi(ws(jr(oîr(om(îmv(;C@)HA)>9J(Ujhs(ñps(kiu(l(jîi(ki(ímì(
pi(êi(ns(gs(¨¥[mkP(ksk(hóiï(îm(mè(virnøP(çãH(ñpi(ui(kin(ìi(kpl(or(ês(ìiP(lñm(hpi(wîìi(nr(ìi(
piê(f@H):F(¨¥am(ëiP(èr(èm(jl(s(oîi(kr(îi(wik(nmøP(KKä(éhm(s(kr(îìi(ni(mk(om(ur(pr(ñpr(umv(
nr(êi(nìl(pi(êsJ(\(pi(êi(ns(gs(¥Slp(òr(gij(îm(m(èik(virn(hm(hóiv(JJJø(¨çâKP(ñps(kiu(P@A:(
ñpi(ui(kin(ìi(kpl(or(ês(ìiP(rîs(s(kr(îìi(ni(hrê(nm(¥Wr(ér(îs(gr(jl(sv(ji(nr(pru(nm(lês(ns(îr(ñmL
ns(nrJJJø(¨KHâJ(Rîs(êrn(ñps(vip(ñpik(jhr(uîìr(ñpi(umk(ñps(ki(ur(=>@AHeJ(`i(êi(ns(gr(¥`mL
wip(hrfj(iïij(i(pi(jhirkïø(¨çãâ(ñpi(ui(ki(nr(ìi(¥`m(wip(hs(ni(mês(jl(ws(îi(êup(jhiø(¨KHç(
vr(kr(ws(rki(èurh(ns(ìi(ws(îm(:@)BF)P9X):@(ìip(ñps(kiu(XQG=>(ni(èm(îm(gs(pr(jr(svi(ns(gmv(mêsJ(
emé(ìi(krn(ñps(vip(ni(r(ki(èurh(nmo(ñpi(nm(éi(nìr(nr(êi(nìr(ñpik(jhr(uîìr(ñpi(umk(sks(m(vr(>F)
;@>)A)f9;)fA:;)F)Fi)=F)P@>)J9:;(l(pi(êi(ns(gs(¥Qnk(`m(wip(hr(hóm(loóh(óip(jsgè(vmh(óip(
m(lîk(oih(r(wso(wrno(mlh(mò(vï(krn(gsno(mniJø(¨çãç(èm(ìs(ìi(km(jîmu(nm(ñpi(ui(kin{(
¥Q(`m(wip(hr(ìi(vs(jîs(îr(kr(íi(nìi(nr(wm(îi(jnr(vrì(èr(km(ws(hs(ui(îs(ès(lkr(prg(mk(vm(ìi(
pr(s(opr(ni(vrì(èiJø(¨KKIJ(Qki(èurh(ns(ìs(ñpi(umk(ws(wsm{(T)hF)f@G)>A)E@)P9)=C9)CA)HA)û@)
:E@):A)fF)C@)=:A)PAE)RA)f9)>9)kA9)=>A)kA)HF)QFCE):A)RAH)A)RF)CF)W@J(
Wr(îiè(jsê(èmv(ns(uml(nr(s(îr(s(vm(nr(km(jîmu(nm(ñpi(um(⁄i(nìi(ñps(ki(urP(svi(ns(gr(s(oîrL
om(îrJ(Vr(èm(ìi(pi(êi(ns(gr(¥Rm(lnkj(îs(èi(r(vm(lhó(òlîø(¨çãä(ñpi(ui(ki(nr(¥õul(ês(èrm(ñlL
nr(ljhrø(éhm(ki(îl(ìi(ni(l(uip(îìs(um(nr(jpñ(jèmvJ(Uvi(ns(gr(PF)J)iA)R@(l(pi(êi(ns(gs{(¥`m(wip(hr(hm(mè(óip(îlngó(wpi(rèø(¨çâH(ñpi(ui(kin(ìi(ni(rL
ki(èurh(nmv(èm(îm(èr(gs(ìmv{(¥`m(wip(hr(ìi(li(îr(jum(ìl(ñr(l(l(r(pl(êrèø(¨KHä(lvi(jhm(
hF)f@G)>A)E@)F>9)WCA):A)BA)

TC@R=A:HGA)`k;AGEA:
jr(ñpr(us(îs(vr(ñpr(um(ñs(jrP(r(s(ni(ñm(jhm(ìs(hr(èur(ih(nsê(èr(opl(ñr(gs(ìrJ(`iê(ji(mk(nm(js(nr(
Un(ks(ìrn(èi(èm(ìi(jhr(nl(ìl(l(ji(uip(nmv(ki(îl(kp(ër(ui(Wìl(ìmpèJ(\(iîi(vin(hi(èlî(hl(pi(jñrL
kr(ìl(s(ljhr(îìi(ns(nr(s(us(ñp(m(s(um(krJ(\(pi(êi(ns(gs(¥U(órk(hm(lji(vï(îrjh(Tósg(îih(wi(gr(l(ji(
wï(hói(hs(vi(U(û(nsj(óik(glh(hsno(iuipïhósno(mlhP(rîî(hói(Yîi(vipfj(rj(om(niJø(¨çã§P(
nr(s(îr(s(vm(nr(ñp(m(wîiv(ñpi(um(⁄i(nìr(hr(èusó(iîi(vi(nr(hrJ(\jhr(îìi(nr(ñprè(jr(ìi(kr(ji(l(
ñpi(um(kl(nr(ui(ki(oi(ni(psê(ès(nr(su(hìJ(r(ìik(nsê(èr(svi(ns(gr(èm(ìmì(kr(hs(ñm(ìrv(ñps(ñr(krJ(
\(ñpi(um(kl(Wr(ki(ëki(Sw(pr(km(usí(ns(ìi(ìr(jnm(nr(êi(nìi(pi(ês(èm(ìi(ji(mk(nm(ji(nr(vrpL
èl(ñp(m(s(um(krP(ìip(ns(ìi(kr(hr(r(ìik(nsê(èr(svi(ns(gr{(¥ôm(pr(îr(jrv(kr(sj(èm(ps(jhsv(jumì(
ñm(jîik(nìs(ês(èîih(ìip(km(hpi(nlh(èr(èr(kr(jrv(r(up(és(îr(ji(êi(nìi(jui(orP(jru(Yî(vip(ìi(
mhs(érmJø(¨KHMJ(ôm(ol(ír(uip(s(ìr(ws(ws(îr{(oF)GA)CA)=AP)HA)G@)f9P)=QF)E

QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(SaeQcZeYWUd(\(JJJ
vin(hrî(ns(ñm(pi(vi(írìJ(Wi(r(ki(èur(hrn(ñpi(umk(s(ñps(ki(ur(s(svi(ns(gi(ñm(èr(l(ìi(nrv(kr(
Wr(ki(ëkr(Sw(pr(km(usí(ns(ìi(pr(l(vi(îr(ni(jr(vm(nr(êi(nìi(pi(ês(èm(ìi(ês(ni(jsn(hro(vlP(uií(
s(nr(êi(nìi(gi(îi(opl(ñi(nr(ui(ki(nsó(pi(êi(ns(grJ(ôm(ol(ís(ñpi(umk(ws(wsm{([F):9)9):E@);F)QA)
@):A)=A):FQ):9R)RFP)W9)C):A)>@)F)G9)EAJ((
ürm(éhm(ìi(ñm(vi(nl(hm(l(rnr(îs(s(mumo(ñpi(um(kr(nr(s(îr(s(vm(s(nr(ìi(krn(jñi(gs(û(êrn(
ñp(m(wîivJ(Wr(s(vi(km(wrp(ñpi(umk(hpi(wr(kr(îiè(jsê(èsv(sîs(ni(èsv(kpl(osv(jpik(jhus(vr(
ñpi(ni(ji(sn(òmp(vr(gs(ìl(m(kpl(éhui(nmv(jhr(hl(jl(om(ump(ns(èr(èm(ìl(mps(os(nrî(jr(kp(ësJ(^pi(umk(
Wr(ki(ëki(Sw(pr(km(usí(so(nm(ps(éi(ni(òmp(vrî(ns(om(ump(èm(ìs(ñm(jhm(ìs(l(mps(os(nr(îl(s(èm(ìs(ni(
jr(vm(kr(ki(û(ns(éi(ns(ëi(èîr(jnm(ñm(pi(èîm(om(ump(ns(èrP(uií(ñpik(jhr(uîìr(s(jhsî(jès(iîi(vi(nrh(
ñps(êiJ(Wr(ñps(vip(uií(l(ñp(umì(pi(êi(ns(gs{(¥[sv(vi(ûf(ginhj(mphó(mò(grnkïP(ñîi(r(jiJø(
lmêr(ur(vm(iîi(vin(hi(ni(jhrn(krpk(nmo(om(um(pr(èrm(éhm(ìi(jèpr(ís(ur(nìi(s(jñr(ìr(nìi(oîrL
om(îr(s(r(vi(ns(gi(¨;9)Q@)P@(P(èrm(s(wp(m(ìr({)Q@J(\(ñpi(um(kl(pi(êi(ns(gr(oîr(js{(¥Xrì(hi(vs(
wmv(wm(nr(r(ñih(gin(hsP(vm(îsv(urjJø(¨KåHJ(Qki(èurh(ns(ìs(ñpi(umk(ws(jr(kp(ërm(mui(mkL
îs(èi{(U@)>A)RF)CE@)fF:)fF:)kA)B@>)b@:)>9J(
uO'aZ',-)'¢*û',.3-/'[*û)Ä'¿-,1/Ä'a3-'[Z.'X*'.-'ó.*'Z+'3*'.Z'[1¨
Surì(ñpi(umk(èr(prè(hi(ps(éi(mws(îìi(ni(r(ki(èurh(nsó(ñpi(um(kr(èm(ìs(jñpi(êr(ur(ìl(ês(hr(m(gr(
kr(pr(l(vi(nr(êi(nìi(mps(os(nr(îrJ(cií(ñm(êi(hrè(hiè(jhr(ns(ìi(pr(l(vîìsuJ(\(in(oîi(jèmv(
ìi(s(èl(ñpik(îmo(Fi(èm(ìs(jhm(ìs(s(vi(⁄l(kui(svi(ns(gi(mnr(êr(ur(ñps(ñrk(nmjh(sîs(lpmê(nm(
ñm(jîi(ksê(nl(ui(lJ(Vr(èm(kr(ìi(ìr(jnm(kr(pi(êi(ns(gi(¥Qîs(gi(mò(hói(jhpi(ihjJ(Qîs(gi(mò(hói(
ñrp(hs(ijJø(¨ä(nr(êi(kr(sv(ìi(mnr(nr(ni(ès(nr(êsn(ñps(ñr(kr(îrJ(\(ñpi(um(kl(¥Qîsj(lîs(grJ(
Qîsj(r(wr(urJø(¨Kåã(ns(ìi(ìr(jnm(kr(îs(ìi(l(ñs(hr(nìl(vi(hr(òm(pr(¨Qîsj(èrm(lîs(grP(r(wr(ur(
kr(îs(sv(mnr(nr(ni(ès(nr(êsn(ñps(ñr(kr(s(kr(îs(ìi(l(ñs(hr(nìl(ìik(ns(nr(sîs(vnm(ës(nrJ(Rsn(hroL
vr(¥ünmhhï(jèïLpi(rgó(mò(r(kirk(hpiiø(¨ä(ñpi(ui(kin(ìi(¥êum(pr(jhs(upó(vp(humo(jhr(wîrø(
¨Kåã(ñps(êi(vl(ns(ìi(ñpi(ni(ji(nm(nr(êi(nìi(mps(os(nr(îr(l(ñmh(ñl(nm(jhsJ(\(mps(os(nr(îl(jhm(ìs(
kr(ìi(kp(um(hr(èm(us(jm(èm(kr(ji(ês(ns(kr(km(ks(pl(ìi(ni(wmP(srèm(ìi(vp(humJ(Sur(vi(hr(òm(pr(
ñpi(nm(js(nr(êi(nìi(gi(îi(ñps(êi{(srèm(YîsjP(èrm(s(ëi(ni(mèm(nìiP(um(ks(hi(ërè(ës(umh(s(ki(îlL
ìi(kr(jl(nr(èpr(ìl(ñm(pr(ëi(niP(hm(ljhur(ps(ns(ìi(hrê(nm(8(èrm(s(kp(umP(mni(km(ks(pl(ìl(ni(wmJ(
åãK

åãH
TC@R=A:HGA)`k;AGEA:
^pi(umk(pi(êi(ns(gi(¥[in(hîi(rî(èsno(mn(îmno(îiojø(¨ä(èm(ìs(oîr(js(¥jñm(pr(éih(nìr(nr(klL
orê(èsv(nm(or(vrø(¨Kåã(hr(èm(⁄i(lmñ(éhi(ni(ñpi(nm(js(ns(ìrn(ji(nr(êi(nìr(mps(os(nr(îrJ(Yîsj(
óm(kr(opr(gs(m(nmP(éhm(ìi(ìik(nr(mk(mjnmu(nsó(mjm(ws(nr(nìi(nmo(îs(èr(s(ñpi(ui(jhs(hl(opr(gsL
m(nmjh(ñps(îm(omv(=BF)GF(nr(ês(îs(és(hs(ês(hr(m(gr(vm(olí(nm(jhs(kr(wm(îìi(jr(oîi(kr(oîru(ns(îsèJ(
Rîi(ki(ír(pi(êi(ns(gr(wmo(jum(ìi(kl(ës(ni(s(vnm(éhur(sn(òmp(vr(gs(ìr(ñm(jhr(uîìr(ni(èm(îsL
èm(ñpi(um(ks(îrê(èsó(ñp(m(wîi(vr(nr(jsn(hrè(jsê(èmv(ns(uml(èm(ìi(Wr(ki(ëkr(Sw(pr(km(usí(ni(
ljñi(ur(kr(pi(ésJ(\(mps(os(nr(îl(pi(êi(ns(gr(oîr(js{(¥Qnk(hói(pi(i(pi(pr(pi(rnk(mn(kpm(ljîï(
sg(èik(hs(vij(óin(U(rj(gr(loóh(hói(pi(shó(Xrkkï(óm(rj(mni(mò(hói(opiikï(
mnij(rnk(gm(lîk(nmh(îi(r(ui(ln(hsî(hói(ìmïLjóm(l(hsnoP(hr(wîiLjîrñ(ñsno(rpol(vinhj(rwm(lh(
[mk(rnk(Wi(opm(ijP(hói(ìlv(ñsno(lñ(rnk(kmnP(hói(wiî(îm(sno(®órh(rwm(lh(hói(hs(vif(
hrîèjP(hói(wm(r(jhsno(rnk(pi(i(îsno(mò(ñi(m(ñîi(kplnè(shó(wi(ip(rnk(îr(lo(óhip(rnk(hói(
rg(ói(mò(irgó(mh(óip(rj(muip(rnk(hói(îrjh(mnij(jrh(hrî(èsno(jrk(rnk(îmP(jsgè(shó(
hóiv(jiî(uij(rnk(hmm(vlgó(wi(ipJø(¨IJ(Wr(ki(ëkr(Sw(pr(km(usí(ñpi(um(ks{(¥U(ws(îm(ìi(pihL
èsó(s(s(urn(pik(nsó(ñm(èur(pi(nsó(upi(vi(nr(èr(kr(wsó(ìr(hr(vm(ws(îr(lóur(íi(nr(jr(hr(hmvP(
èm(ìs(ìi(wsm(ìi(krn(mk(ñm(óîiñ(nsóP(s(ns(ìi(vm(orm(kr(ñm(⁄i(jui(kmè(ji(pr(km(jnr(us(èrP(
rpol(vinh(l(lkr(pr(nìi(m(jhm(ñm(um(kmv(am(or(s(Tp(nr(grP(jèr(èr(nìi(om(piLkm(îiP(vlL
èr(nìi(®éhr(ìi(m(mnmv(upi(vi(nlf(ñps(êrP(óur(îs(jr(nìr(s(ur(îìr(nìr(îìl(ksP(ñs(ìr(nsó(mk(ñs(ur(s(
jvi(ór(s(wm(îr(ìik(nm(r(kpl(osvP(ni(ws(r(up(és(îr(s(ñm(jîik(nìs(ws(ji(ki(îsP(ñps(êr(ìl(ís(hl(ënm(
s(hs(ómP(wm(îi(jns(mk(ji(wi(jr(vsó(s(jl(us(éi(ñs(urJø(¨KåâJ(^p(um(íi(vm(ji(ñm(r(wr(us(hs(ñpiL
um(kmv(nr(îiè(jsê(èmv(ns(uml(wl(kl(ís(kr(jr(jhru(ns(ki(îm(us(pi(êi(ns(gr(oîi(kr(nm(sm(îm(ur(nm(
ns(jl(rki(èurh(nm(ñpi(ui(ki(nsJ(^ps(kiu(¥opiikïø(ñm(opi(énm(ìi(ñpi(ui(kinP(ñr(nr(pr(hmp(èsn(
mhrg(s(oîi(kr(ñm(óîi(ñrnP(lvi(jhm(ëi(îìrn(Yîs(js(nmo(kpl(éhurJ(^pi(um(⁄i(nìi(ñps(ki(ur(g9br
R@H(mês(oîik(nm(ìi(hr(èm(⁄i(ñpik(jhr(uîìr(îm(ñp(m(wîivJ(\(ñpi(um(kl(mn(oîr(js(¥ñm(èur(pinøP(
vi(⁄l(hsv(vr(kr(ìi(hm(ñps(vrp(nm(nr(êi(nìi(kr(hmo(ñps(ki(urP(mn(hr(èm(⁄i(vm(ëi(kr(nr(ês(
:@)=>A)WA:l)Hl)r(l(jîin(ol(s)Q@)F)PA)HF)fAGJ(Vr(èm(kr(hr(òpr(r(vm(ëi(kr(ji(ñpi(uiL
ki{(f9)CF)E@)G@>)R9Jl)=EAE):9J)9):@F)f)G@):A)RAJ(Uvi(ns(gr(AG;=(ñpi(ui(ki(nr(
ìi(¥rpol(vinhøP(r(nr(ês(BG@)BG9)RAl)=QA)†AJ([îr(omî(>F)f@C)CFg(ñpi(ui(kin(ìi(svi(ns(gmv(
¥vl(èr(nìiø(éhm(ìi(nìi(om(um(ñps(vrp(nm(nr(êi(nìiP(¨vr(kr(ji(mn(ljhur(ps(mk(nm(js(nr(moîrL
ér(ur(nìi(ws(èm(urP(r(ni(èpr(urP(ñr(ws(ñpr(usî(ns(ìi(ws(îm(pi(ís(kr(ìi(ñps(vrp(nm(nr(êi(nìi(G9)RAr
:E@P(rîs(ji(èln(krp(nm(nr(êi(nìi(ìi(;CA)=:F)Q9)RA)>9P(éhm(ìi(ñps(vi(pi(ns(ìi(mumv(èmn(hiè(jhlJ(
`i(êi(ns(gr(¥órh(rwm(lh(hói(hs(viø(km(jîmu(nm(ìi(ñpi(ui(ki(nr(¥éhr(ìi(m(mnmv(upi(vi(nløP(
lvi(jhm(=@)ûA=)=@)RA)HA)=PF(sîs(jr(vm(=@)ûAW)C9)=@J(ürm(éhm(jvm(us(ki(îsP(pi(êi(nsê(ns(kiL
îm(us(l(ñpi(um(kl(ni(ês(ni(ìik(nl(gi(îs(nlP(ñr(ji(ol(ws(ui(r(s(vi(⁄l(ñm(êih(èr(s(èpr(ìrP(hr(èm(
kr(pi(êi(ns(gr(ni(òlnè(gs(m(ns(éi(ns(nr(jsn(hrè(jsê(èmv(ñîr(nlJ(Xm(krh(ns(ñp(m(wîiv(ìi(s(hm(éhm(
Wr(ki(ëkr(Sw(pr(km(usí(lnm(js(l(ñpi(umk(rîl(s(ìi(èm(ìi(ni(ñm(jhm(ìi(l(mps(os(nr(îlJ(Vr(èm(piL
êi(ns(gl(¥óin(U(rj(gr(loóh(hói(pi(shó(Xrkkïø(èm(ìr(l(mps(os(nr(îl(svr(nr(êi(nìi(kr(
ìi(ki(umì(ês(gr(r(hi(êi(nr(èr(èm(ñm(hrì(nm(jîl(ér(pr(om(ump(mk(pr(jîsó(l(Yîs(js(nmì(èl(ís(oki(ìi(
um(îi(îr(kr(mk(îr(sP(Wr(ki(ëkr(Sw(pr(km(usí(ñpi(um(ks{(¥èr(kr(wsó(ìr(hr(vm(ws(îr(lóur(íi(nr(
jr(hr(hmvø(éhm(svr(ñmh(ñl(nm(kpl(or(ês(ìl(sv(ñîs(èr(gs(ìlJ(ôm(ol(ís(ñpi(umk(pi(êi(ns(gi(ws(oîrL

QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(SaeQcZeYWUd(\(JJJ
jsm{(U9)CF)E@)G@>)R9J)9)BG@)H9Q):9Jl):@F)f)G@):A)RA)RA)HA)=AP)=@)kA)>@)RCA)>A)PF)
=A)>A)>FP)RF)E9)E@)9)=AP)f9F)@)CEA:)]C9)=9):F;)HGQA)9):9)E@)J>@F)HA)FH@)=Q@)HFR):@)f9)
BG@)=>A)C9)HA)=@)GA)HF)=:F):AH)Q9)R

åã§
TC@R=A:HGA)`k;AGEA:
\(gi(îmv(hiè(jhl(lmñ(éhi(ns(ìi(ñpi(um(⁄in(ni(jhrn(krpk(ns(om(ump(èm(ìs(ìiP(èrm(éhm(ìi(
ñm(vi(nl(hmP( ui(m(vr( us(kîìsu( l( mps(os(nr(îl( s( èm(ìs( km(krh(nm( èr(prè(hi(ps(éi( oîru(ni( ìl(nr(èi(
èm(ìs(ñps(ñr(kr(ìl(js(pm(vr(énmvP(nim(wpr(m(ur(nmv(s(vrp(os(nr(îs(m(ur(nmv(ki(îl(rvi(psê(èmo(
kpl(éhurJ( Wr(wpm(ìr(íi(vm( nrì(èr(prè(hi(ps(jhsê(ns(ìr( mw(îië(ìr( mumo( om(um(pr{( jèpr(íi(ns( mw(îsL
gs( oîr(om(îr( s( r(vi(ns(gr( ¨¥Ufvr( ¨KMMP( ólnhfsvæ( wîmfsvø( ¨KMãæ( kl(ñîr( ni(or(gs(ìr(
¨¥Xmnfh( îih( vi( jhmñ( nmh(ósno( ¨IIP( ¥rsnfh( nm( gmñj( omn(nr( pln( kmn( nm( ñi(m(ñîiø(
¨KM§æ(jèpr(íi(ns(mw(îs(gs(r(vi(ns(gr(¨¥ïfrîîP(ïmfø(¨KMK(PKMçP(KM§P(KMåæ(jèpr(íi(ns(mwL
îs(gs(pi(ês(¨¥órhgórø(¨IIP(¥mîfø(¨KMçæ(ni(ñpr(usî(ns(mw(îs(gs(pi(ês(¨¥rsnfhø(¨KM§P(¥omnL
nrø(¨KM§(s(ni(opr(vr(hsê(ni(pi(êi(ns(gi(¨¥Vói(pmrk(km(inkø(¨KM§P(¥ïml(ñrph(mò(hói(ish(
hsg(èihø(¨KMçP(¥jói(ènm(iuipïhósnoø(¨KM§P(¥ós(îi(ïml(ïmlnoø(¨KMMJ(Wr(ki(ëkr(
Sw(pr(km(usí(lmñ(éhi(ni(ñm(èl(ér(ur(kr(jhum(ps(jîsê(ni(jso(nr(îi(ni(jhrn(krpk(nmo(om(um(pr(l(
ñpi(um(klJ(öhr(us(éiP(ni(èi(pi(êi(ns(gi(èm(ìi(jl(l(mps(os(nr(îl(ni(jhrn(krpk(niP(l(ñpi(um(kl(ulL
êi(ìmé(òmp(vrî(ns(ìi(ni(om(éhm(ws(ul(êr(îi(l(jur(èm(kniu(nmv(om(um(plJ(Xm(wrp(ñps(vip(ìi(
pi(êi(ns(gr(èm(ìr(svr(ñm(s(hsu(ns(ìi(nr(êi(nìi(l(ñpi(um(kl(ni(om(l(mpos(nr(îl{(¥©ói(pi(ïfrîî(
om(sno(Rs(jhlój¬ø(¨KMç(l(ñpi(um(kl(oîr(js(¥[ki(ski(hiP(ji(jhps(gi¬ø(¨K§âP(ñps(êi(vl(piê(
=@)=>G9)bA(l(jpñ(jèmv(svr(ñm(s(hsu(nl(èm(nm(hr(gs(ìlP(kmè(ìi(piê(=9)=>@G(s(èm(ps(jhi(ìi(Qòpm(r(vi(ps(èrn(gs(l(mwpr(ír(nìl(ëi(nr(vrJ(Sjsv(
hm(orP( pi(êi(ns(gr( jr(kp(ës( om(pi( ñm(vi(nl(hi( iîi(vin(hi( ni(jhrn(krpk(nmo( om(um(prJ( ôm(ol(ís(
ñpi(umk(ws(wsm{(ê^@)=>@)RG@):G@u(
^m(pik(ñm(vi(nl(hsóP(ni(jhrn(krpk(ns(om(ump(ji(pi(¿iè(hl(ìi(s(l(lñm(hpi(ws(pi(ês(èm(ìi(svrL
ìl(s(jhrn(krpk(nm(s(¥ni(jhrn(krpk(nmø(nr(êi(nìiP(mk(nm(jnmP(èm(ps(jhi(ji(l(jhrn(krpk(nmv(s(
ni(jhrn(krpk(nmv(om(um(plP(l(pr(îs(ês(hmv(nr(êi(nìlJ(Wr(ñps(vipP(svi(ns(gr(>9)=9)=@)fAW)G@)W9F)HA)P9)9W)
>@)G9)>F)G9)EARl)vm(ol(ís(ñpi(umk(wsm(ws)oG)WA)QA)sîs)oGr
WA)Q9)bAJ(\(ñpi(um(kl(jhm(ìs(¥jîsvø(¨K§âP(K§äP(K§IP(wi(mw(ìr(énìi(nìr(l(òl(jnm(hs(éhr(hr(
piê(nr(êsJ(R(kpl(oi(jhpr(niP(¥Sîf(Rrvø(¨KMç(éhm(ìi(lmws(êr(ìi(ns(s(pr(èm(ìs(èm(ps(jhi(îìl(ks(
èm(ìs(ji(ñm(nr(ìlP(ñpi(ui(kin(ìi(km(jîmu(nm(¥Rhr(ps(Rrvø(¨K§IJ(¨\mws(êr(ìi(ns(ìi(pi(éi(nìi(
l(hprn(jèpsñ(gs(ìs(ìi(a@PP(r(ni(aAPJ(`r(îs(èr(ji(ñps(vi(íl(ìi(èr(kr(lñm(pi(ks(vm(cs(îs(ìi(um(
mwpr(ír(nìi(ìik(nmv(mk(hr(m(gr(jr(¥ñmñjø(¨KMM(éhm(nr(ês(PA)>F)G9l)=>A)G9J(Wr(ki(ëkr(SwL
pr(km(usí(l(ñpi(um(kl(mjhr(uîìr(¥^mñ(jiø(¨K§â(wi(mw(ìr(énìi(nìrJ(¥Xp(m(mñïLiïikø(¨KMçP(

QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(SaeQcZeYWUd(\(JJJ
KM§P(KMå(ñpi(ui(kin(ìi(¥mwm(pin(èmø(¨K§IP(KåMP(éhm(ìi(ui(pm(urh(nm(nrì(ñpm(wîi(vr(hsê(ns(ìi(
pi(éi(nìi(l(gi(îmv(hijè(hlP(ìip(ni(vr(ns(èr(èum(nr(êi(nìi(nr(jpñ(jèmvJ([îr(omî(>F)HG)F)FB(
nr(ês(vîs(hr(um(us(js(hs(sîs(ws(hs(jr(us(ìinP(èrm(s(ws(hs(mìr(⁄inJ(\(mps(os(nr(îl(ìi(îsè(mñs(jrn(èrm(
¥kp(m(mñï(iïikø(¨KMK(éhm(nr(ês(kr(jl(vl(èrñ(gs(us(js(îsP(r(ni(kr(ìi(wsm(¥jñl(éhi(nsó(
mês(ìlø(¨K§â(èr(èm(jhm(ìs(l(ñpi(um(klJ(Vr(èm(kr(ws(rki(èurh(ns(ìs(ñpi(umk(nr(ksv(èr(wsm(
oC9)>A)Q9(sîs(oC9)>AQ)RFJ(((
^pi(umk(jr(kp(ës(s(ns(ñp(m(wîi(vr(nr(îiè(jsê(èmv(ns(uml(èm(ìs(ji(hs(êl(ni(ñm(nr(ur(nìr(
nr(êi(nìr(pi(ês(sîs(km(jîmu(nmo(ñpi(um(krJ(Rsn(hro(vr(¥îm(m(èsno(jvloø(¨Iä(ñpi(ui(ki(nr(
ìi(¥s(oîi(kr(îr(ìi(lomk(nmø(¨K§ãJ(^ps(kiu(=P9)E

TC@R=A:HGA)`k;AGEA:
lñm(pi(ks(vm(ñpi(umk(Wr(ki(ëki(Sw(pr(km(usí(jr(ñpi(um(kmv(cr(nìi(Rvm(ìi(us(ks(vm(kr(ìi(
mnr(mjhr(îr(vnm(om(wîs(ër(mps(os(nr(îl(hs(vi(éhm(ìi(hprn(jèps(wm(ur(îr(pi(ês(èrm(éhm(jl(f@:):A(
s(HF)

QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(SaeQcZeYWUd(\(JJJ
emé( ìi(krn( ñps(vip( ni(r(ki(èurh(nmo( ñpi(um(⁄i(nìr( nr( îiè(jsê(èmv( ns(uml( ñpik(jhr(uîìr(
ñpi(umk(ñps(îmo(r(nr(êsn(¥orî(îrnhîïø(¨KH(èm(ìs(mñs(jl(ìi(èr(èm(ìi(ôsp(nsn(vlë(`liî(
Xëmn(jmn(mhs(érm(l(prhJ(õnr(êi(nìi(pi(ês(;AC)CA:>Ce(ìi(JGA)fGFP(=P@)CFP(GFP(vi(⁄l(hsv(
mwi(ñpi(um(ks(hiîì(èi(murì(ñps(îmo(ñpi(um(ki(jr(¥or(îrnh(nmø(¨çâP(éhm(nr(ês(

åãä
TC@R=A:HGA)`k;AGEA:
om(ump(nsè( jpñ(jèmo( ìi(s(èr( ui(pm(urh(nm( mk(om(um(psm{( ¥ür(èum¬øP( Wr(ki(ëkr( Sw(pr(km(usí(
ñpi(um(ks( km(jîmu(nm( ¥öhr( ìi( hm¬ø( ¨KçKJ( Surì( ñps(vip( jui(km(ês( m( ni(ui(éhm(jhs( ñpi(umL
ks(hiîì(èi(èr(kr(hpi(wr(ñp(m(nr(ís(rki(èurh(ni(s(pr(i(l(gsîì(nmv(om(ump(nmv(ìi(s(èlP(éhm(r(
ñm(jîi(ks(gl(svr(ni(l(uip(îìs(umjh(ês(hr(usó(gi(îs(nr(nr(jpñ(èmvJ(
^pi(umk(Wr(ki(ëki(Sw(pr(km(us(jr(kp(ës(s(opi(éèi(èm(ìi(ñm(èr(l(ìl(ni(ñm(nr(ur(nìi(nrL
êi(nìr( pi(ês( l( in(oîi(jèmv( ìi(s(èlJ( ^ps(kiu( bG9B)BC@H( ¨¥Ufv( ròprsk( hm( ènm( órh( ói(
hóm(loóhJ(U(òiiî(gpsñ(ñîikP(ki(òmp(vikøP(KI(ñpi(ui(kin(ìi(ûF)BA)QA(¨¥^îr(ésv(ji(kr(nrv(
éhr(ìi(vs(jîsmJ(Sji(írv(ji(ím(ñr(urP(ki(òmp(vs(jr(nrJøP(jhpJ(Kçå(lvi(jhm(FfF);A)CE@):Al(wlL
kl(ís(kr(ôsp(nl(sj(èl(jhum(jr(`l(i(îmv(ns(ìi(lês(ns(îm(ím(ñr(umvP(uií(ìi(lns(éhs(îm(nìin(klóJ(
aprn(èr(`m(wip(jhmn(ñpi(um(ks(ñps(kiu(èrm(¥mjr(èr(íi(nrø(¨¥^îr(ésv(ji(kr(jr(nrv(éhr(ìi(
vs(jîsmJ(Sji(írv(ji(mjr(èr(íi(nrP(mwm(or(îìi(nrøP(§KP(éhm(ìi(rki(èurh(ns(ìiJ([îr(omî(bA)GGe)
F:(ñm(opi(énm(ìi(ñpi(ui(kin(l(pi(êi(ns(gs{(¥di(wi(orn(hm(èsjj(vi(rnk(gr(ppï(mn(rwm(lh(vï(
om(mk(nijjø(¨HMJ(\(ñpi(um(kl(Wr(ki(ëki(Sw(pr(km(usí(jhm(ìs{(¥^m(êim(ìi(kr(vi(îìl(ws(s(kr(
ji(jhr(pr(m(vm(ìmì(km(wpm(hsø(¨KçåJ(aprn(èr(`m(wip(jhmn(rki(èurh(nm(ñpi(um(ks(pi(êi(ns(gl{(
¥^m(êim(ìi(kr(vi(îìl(ws(s(óur(îs(vm(ìl(km(wpm(hlø(¨§KJ(Wr(ki(ëkr(Sw(pr(km(usí(hr(èm(⁄i(niL
r(ki(èurh(nm(ñpi(um(ks(oîr(omî(>@:H)>F(¨nr(os(nìr(hsP(éhm(lhs(êi(nr(hm(kr(ji(vi(nìr(nr(êi(nìi(
pi(êi(ns(giJ(\(mpos(nr(îl(pi(êi(ns(gr(oîr(js{(¥ôï(òr(vsîï(hinkj(hm(krp(èin(rnk(krp(èin(rj(
i(oih(mî(kipø(¨KçJ(Wr(ki(ëkr(Sw(pr(km(usí(ñpi(um(ks{(¥ôm(ìr(ñm(pm(ks(gr(om(ks(nr(vr(hi(ës(
kr(ñm(jhr(ni(jui(hrv(ns(ìr(s(hrv(ns(ìrø(¨KçHJ(^p(m(wîiv(ìi(l(hm(vi(éhm(ôsp(ns(nr(ñm(pm(ks(gr(
ni(hi(ës(kr(sv(èm(ër(ñm(jhr(ni(hrv(ns(ìrP(hm(ns(ìi(nìs(óm(ur(um(îìrP(uií(nìs(óm(ur(èm(ër(hrv(ns(
èr(èm(ñm(jhr(ìi(jhr(ps(ìrJ(Qèm(lñm(pi(ks(vm(jr(ñpi(um(kmv(aprn(èi(`m(wiph(jmn(us(ks(vm(prL
îs(èl{(¥\(vm(ìmì(ñm(pm(ks(gs(èm(ër(jr(om(ks(nr(vr(ñm(jhr(ìi(jui(hrv(ns(ìrø(¨KçâJ
Wr(èmn(rnr(îs(r(ñpi(um(kr(Wr(ki(ëki(Sw(pr(km(usí(s(nìs(óm(umo(ñm(pi(⁄i(nìr(jr(ñpi(um(ksL
vr(kpl(osó(ñpi(um(ks(îr(gr(vm(ëi(vm(kr(r(èîìl(ês(vm(kr(ñpi(um(ks(hiîì(èr(ñpr(us(vnm(éhum(
opi(ér(èr( nr( îiè(jsê(èmvP( jsn(hrè(jsê(èmv( s( ñpro(vr(hsê(nmv( ns(uml( èm(ìs( jl( ljîm(uîìi(ns(
ni(ñm(nr(ur(nìiv(nr(êi(nìr(pi(êsP(ni(vrp(nsv(mk(nm(jmv(ñpi(vr(ìi(s(èl(mps(os(nr(îrP(rîs(s(
ìi(s(èl(ñpi(um(krJ([pi(éèi(ñpi(um(ks(hiîì(èi(l(jpñ(jèmv(ìi(s(èl(skl(mk(ni(r(ki(èurh(ni(lñmL
hpi(wi(ñr(ki(ër(km(ni(jîr(or(nìr(l(wp(m(ìlP(îs(gl(s(pm(kl(éhm(jñr(kr(l(mjnmu(nr(opr(vr(hsê(èr(
ñpr(us(îrJ(Sum(nr(um(ks(vm(ìip(ìi(ìr(jnm(kr(vnm(oi(opi(éèi(ñpik(jhr(uîìr(ìl(ñpi(us(ki(èm(ìs(
jl(ji(vm(oîs(s(wi(ís(kr(ji(ñpi(um(ks(hiîì(èr(jr(vm(ñm(hpl(ks(îr(kr(ñm(oîi(kr(l(piê(nsè(s(nr(⁄i(
ñm(hpiw(nl(ki(û(ns(gs(ìl(pi(êsJ(Snm(éhm(ìi(hr(èm(⁄i(mês(oîik(nm(s(rnr(îs(i(ñpi(um(kr(ìi(jhi(kr(
ñpi(um(ks(hiîì(ès(ñm(ji(wrn(ñp(m(wîiv(ñpik(jhr(uîìr(ìl(kl(orê(èi(pi(êi(ns(gi(l(èm(ìs(vr(mnr(ni(
ljñi(ur(kr(ji(jnr(⁄i(s(kr(só(ñpi(ui(ki(èrm(jvs(jîi(ni(gi(îs(niJ(Wi(r(ki(èurh(nm(ñpi(um(⁄i(nìi(
sks(m(vr(s(èlî(hl(pm(îm(éèsó(ñmì(vm(ur(jui(km(ês(m(ni(km(umîì(nmv(ñm(nr(ur(nìl(èlî(hl(pr(s(
èm(ìsó(mps(os(nr(îs(ñm(hs(êlJ(Sus(ni(r(ki(èurh(ns(ñpi(um(ks(jl(ìmé(mwsîì(ns(ìs(rèm(svr(vm(l(us(kl(
kr(ñih(mk(éijh(rnr(îs(s(pr(nsó(ñpi(um(kr(ñps(ñr(kr(wîm(èl(cG):F)B@)GFl(èm(ìs(ìi(svrm(r(gsîì(
ñps(wîs(ër(ur(nìi(èlî(hl(pi(Qòpm(r(vi(ps(èr(nr(gr(nr(émì(ñl(wîs(gsJ(õwmo(îm(éio(èur(îs(hi(hr(ñpi(umL
kr(ês(hr(m(gs(jl(lj(èpr(íi(ns(r(ñpr(us(km(ës(uîìrì(pi(ñpi(in(hr(hsu(nsó(hiè(jhm(ur(ròpm(r(vi(psê(èsó(
ènìs(ëiu(ns(grP(r(ñm(jhm(ìs(s(mñr(jnmjh(kr(íi(wmo(ni(pr(l(vi(ur(nìr(hiè(jhr(mk(l(jhr(hs(mk(

QWQZUõQ(^`YcSXQ(^`UQ(Qb`SQôY`UüUd(Q\VS`üU(SaeQcZeYWUd(\(JJJ
ês(hr(nìr(sîs(jhum(ps(hs(îmé(jlk(m(èlî(hl(ps(m(èm(ìmì(ìi(piêJ(Wr(ki(ëkr(Sw(pr(km(usí(ìi(ìi(krn(mk(
ñp(m(klè(hsu(ns(ìsó(ñpi(um(ks(îr(gr(l(nr(émì(i(vîìsP(r(ni(ès(mk(nìi(nsó(ñpi(um(kr(ñpik(jhr(uîìr(ìl(
jpñ(jèmì(ês(hr(îrê(èmì(ñl(wîs(gs(gi(nìi(ni(ñs(jgi(èrm(éhm(jl(Wr(ksn([mp(ks(vipP(Rrî(vrn(`lëL
ksP(Vm(ns(ôm(ps(jmn(s(Qîsj(cm(èipJ(Qèm(svr(vm(l(us(kl(kr(jl(mus(nìi(ns(ñpi(um(ks(mw(ìr(uîìiL
ns(l(ivs(ninh(nsv(ènìs(ëiu(nsv(êr(jm(ñs(js(vrP(vm(pr(vm(ji(r(ñs(hr(hs(èr(èm(jl(mui(opi(éèi(
ñp(m(vr(èîi(îiè(hm(ps(vr(s(lpik(ns(gs(vr(hsó(êr(jm(ñs(jr(mk(èm(ìsó(ws(ês(hr(îrg(mêi(ès(urm(ui(íl(
ñm(jui(íi(nmjh(èur(îs(hi(hl(ìi(s(èrJ(
,1)-3*)43*
sîkpij(crìhP(^mîihJ(¨KIIâJ(YîsjJ(aQ@=R@J(I(¨çåP(KçMLKçäJ(^piumk(Wrkiëkr(SwprkmusíJ
Tósîkpijj( ©óshiP( ^rlîihhiJ( ¨KIäMJ(QîsgiJ( Un( o9H:9;J>) U9GH=l) a>FG9@=) Fi) cF:>@PBFGAGe)
UCAbR)_FP@:)_G9>@G=J¨©rjósnohmnP(ôrpï(diîin(ikJJ(Wi(†mpè{(Qngómp(ammèjJ(
XrnwrpP(YîjsJ(¨KIIâJ(Vmnsìiur(ëinrJ(aQ@=R@J(I(¨çåP(KçMLKçäJ(^piumk(Wrkiëkr(SwprkmusíJ
XlnwrpLWiîjmnP(QîsgiJ(Vmnïfj(©sòiJ(Xmjhlñnm(nr{(JúlijhsrJgmvJ
dmkësjP(bpinêsJ(¨KIIâJ(`ièusìiv(r(csîsìr(ZsìrJ(aQ@=R@J(I(¨çåP(KçMLKçäJ(^piumk(Wrkiëkr(
SwprkmusíJ
dmkoijP(bpingóïJ(¨KIäMJ(`iúlsiv(òmp(©sîîsi(ZiiJ(Un(o9H:9;J>)U9GH=l)a>FG9@=)Fi)cF:­
>@PBFGAGe)UCAbR)_FP@:)_G9>@G=J¨©rjósnohmnP(ôrpï(diîin(ikJJ(Wi(†mpè{(Qngómp(
ammèjJ(
üsngrskP(ervrsgrJ(¥[spîøJ(Xmjhlñnm(nr{(JúlijhsrJgmvJ
üsnèiìkP(XërviìèrJ(¨KIIãJ(XiumìèrJ(OFCEAJ(§K(¨§MKL§MHJ(^piumk(Wrkiëkr(SwprkmusíJ
üsnèiìkP(XërviìèrJ(¨KIIäJ(XiumìèrJ(h@XJ(åJ((¨§IP(âãJ(^piumk(crnìr(RvmìiJ
ômpsjmnP(VmnsJ(¨KIIâJ(`igshrhsuJ(aQ@=R@J(I(¨çåP(KKâLKçMJ(^piumk(Wrkiëkr(SwprkmusíJ
ômppsjmnP(VmnïJ(¨KIIãJ(`igshrhsòJ(Un{(cFG:@G=>F:@=l)T:)T:>JFCF;e)Fi)TiG9bA:)TP@G9bA:)
89>@GA>A)9RA) G@X9J( Wmus( Rrk{( Ukrurêèr( ènìsërpnsgr(
õmprnr(RhmìrnmusírJ(
cinlhhsP( ZrpingiJ( ¨HMMKJ( [J@) [GA:=CA>9F:) a>FG9@=)Fi)cF:>@PBFGAGe)UCAbR)_FP@:)
_G9>@G=J(Wi(†mpè{(Qngómp(ammèjJ(
ALEKSANDRA IZGARJAN
åãI

TC@R=A:HGA)`k;AGEA:
QWQZ†RUR(Sb(VdY((V`QWRZQVUSWR(Sb(VdY(Qb`UTQW(QôY`UTQW(©SôYW(
©`UVY`Rf(RVS`UYR(^\aZURdYX(UW(RY`aUQ(b`Sô(KIIM(VS(HMMH
a

$0&(&#2%*$&(*-0T.43&()0T#
"R"VTW"'U\$æ"VRQ]'ecQ$"'R"'h$Tc\$e'
^TVc!PT'#T&"VQ]"'e'PQc\#T&T''
øf$RT']$e&"''T'P"c\R'ce#$Q!ST¿''
$\%T!\$"'c"$P"'c"$TRPQUT»"'
'B@Ö(Ö(F?;LF@(A=(F?;Ö(@=@(z>(>(É>zO(F?>Ñ(
A>(Ö@(z;(E@(N(?;(OC(A>(Ö>(Ü(2(?@(OC=(ON(A¥((FC(;(FC(A;(:>;(:;(Å>(NB>A(N(y(O(>(?;E(=>(Ç>B(=>O(CzC(OC=(Ç>(O@(FN(@(F=;(B@(=>(ÑN(O;((FÇ>}(?>(CÉC?(Ç>(>(
?@(?B@(ÖC(y((=@(O>}(?;E(?;=(FÇ(F@(à@(B>(|C(Fz;Ö(=>Ñ(y;Ö(O;B(=;LÖC(>}(?>Ñ(F@(A(;?B>(=>(A@(ÖC(;:>Å(=>(ÖC(yP(yF>(Ñ;(@(=@(z>(Ç>(}@(P(yF>(Ñ;L
z;(>P(F;(~>(;(z;(>(>(z>=(EB>(FÇ>(;A(N(BC?(FN(FC(:@(B>(z>(y>(Ç@(àCO(|Ç@(Ç;(>@(>(B@(
FOCÑ(?;A(ÅN(A>P(?@(?;(AC(É>(=>(F@(Ç>(>(;:(Ö@(F=>(Ç>(ÑN(O;(FÇ>(~>P(BC(@FyC?(Ç>(ÑN(O;((|C( y( N( ;?B>((?CP( y(?C( >( @=@(z>(C( A>F(?N(ÖC( B=(ÇC(F~>(yz>(=@(Ç>B(=@(
z>=(EB>(FÇ>(?@J(0@(>(OCP(?;E(=>(Ç>B(=>(z>=(EB>(FÇ>(y;(z@(C(;A(y(F@(Ç>(>(A(Ç>B(=C(
OC(Ñ@(=>(OCP(ÖC(?N(ÖN(>FÇ>(>z>(B}(=>(y=(~>(y>J(#(
F?@z(AN(F(Ç;O(yB(=>Ñ(OC(Ñ@(=>(@(O@P(=@(?;(Ö>(
=@(}>=(FÇB@((OC(N(=@(à@(?;(ÖC(>O@(O;(;((}>(Ç>O(y;Ö(O;(B>(O@(>(
åâK

ì#('()!"50('5,#ró.('/#
(@(~>(ÖC(Ç;E(y;Ö(O;B(=;E(F@(A(B;N(ÖC(>(?@J('F>O(Ç;(E@P(?;E(=>(Ç>B(=@(
z>=(EB>(FÇ>(?@(O;((>(=@(y>(Ç@(à@(?;(Ö@(FC(Ç>(}N(F@(OC(y((BC(F>(;A(?Nz(ÇN(F(Ç(B@(à@( BC(Ç>Ñ( ;y@(F?>( B@=( ?;=(ÇC?(FÇ@P( ?@;( >(
AN(G>Ñ(ÑN(O;((FÇ>}(?>Ñ(ÇC?(FÇ;(B@J(-C(N(Ç>OP(=C(?@(=;(B>(Ö@(>F(Ç(B@(à@(ÑN(O;L
(F(?N(OC(N(
è69'åè6j'Ñ(FzN(|@(;(~@(¨N(C=EzJ(Q9)@g)BF)9:>J(#(;B;O((A@(;A(E;(B;((O;(=@(y>(Ç@(à@(BC(@(=@(@(=@(}>(=C(F(Ç(DC(O;(FÇ(>@(>(B@(ÖN(ÑN(O;((FÇ>}(?>(CÉC(?@ÇJ(#(yO( DC(O;( AC(Ç@Å(=>(ÖC( ;:(Ö@(F=>(Ç>( AB@( B@(G=@( ÉC(=;(OC(=@(
=@(?;(Ö>(O@(ÖC(@(F=;(B@=(ÑN(O;((Ö@(z;(E@P(@(Ç;(FN(åÜ6'å;ç'èç'á96'ï;ç'
Ñ8'ë>'76'ª6(¨N(C=EzJ(JeB@GrA:)H9:;(>(åã8'7>â';ç'èç'á96'ï;ç'Ñ8'ë>'76'ª6'¨N(
C=EzJ( P9)=A:)H9:;P( @( N( A(C( ?;(y(?@((}>(Ç>Ñ(ÖC(>}(?>Ñ(CzC(OC(=@(Ç@(?;(Ö>(A;(B;(AC(A;(ÑN(O;((FÇ>}(?;E(
CÉC?(Ç@(N(;?B>((Ö@(z;(E@J
mO'S\'Q'$T&'!P\'Q!RQ'U\
0@Ö(=@(}@Ö(=>(ÖN(z>=(EB>(FÇ>}(?N(ÇC(;((ÖN(BC

*0*1,)*(&."5*10'2(á#-'"*(0*(+",-."#(7,1-34,á(!,6*1'2*(JJJ
3BC(;BC((}>(ÇC(y;(Ö@(BC(BC(@(=C(@(ÑN(O;(Ç>B(=@(z>=(EB>(FÇ>(?@(;:(Ö@(|à@L
B@(Ñ6'ç'9'è>'ª8(¨N(C=EzJ(bF:)b@B)>;(7;(?;(=>(ÖCP(@(?@(F=>(ÖC(y((z>(>(A;(yN(=>(z>(7;(?;(=>(ÖC(>(%C(Ç>B(=C(yz>(OC(Ç;(=>(O>Ö(F?;(
y(?@(B@(àCP(@=@(z;(E>(ÖNP(FÇB@((Ö@(~>(Ö@(>(FzJ(+;Ö(O;B(=;(FÇ@(y@(àC(y;A((OC=(Ç@z(=>Ñ(;yC((Ö@(y(?;(Ö>(O@(FC(?;O(:>(=N(ÖN(A>(=@(O>}(?>(?;E(=>L
Ç>B(=>(O;(AC(z>(N(O(?;(ÖN(}>(=C(ë6;'Ñ>ã';FÇ;(B(?@(F=;FÇP(y;(|Ç;(FC(y;(A@(~>(>(=@(àC(?;(ÖC(>O@(O;(N(FBC(FÇ>(F@(G>(O@(ÖN(=@(ÖC(A@=(
C?;(=;(O>(}@=(=@(}>=P(@z>(>(;A((B;FÇP(N(?B(=;O(FO>(FzNP(ÖC(>(Nz@(=>Ñ(OC=(Ç@z(=>Ñ(y(à@(B@(ÖN(?(y;(Ö@OP(O;(EN(
?;O(:>(=;(B@(Ç>(>(?;((FÇ>(Ç>(=@((}>(ÇC(=@(}>(=CJ('=;(|Ç;(ÖC(y;(FC:(=;(B@(G=;(?@(A@(
ÖC((;BC(ÇC(;((ÖC(=@(yF(?N(FÇB;(
ÅN(A>(?;(Ö>(FN(y(y@A(=>(~>(A@(ÇC(?Nz(ÇN((Ç>B(=;Ö(z>=(EB>L
FÇ>(~>(ÇB(A@(FC(=@(}C(àC(F@(FÇ;(Ö>(;A(?;E(=>(Ç>B(=>Ñ(FÇ((Ö@(Ç>B(=>Ñ(OC=(Ç@z(=>Ñ(BC(@J(6C(>?P(>(=@(}C(àC(=@(=>(B;N(ÖC(>(?@P(=@L

ì#('()!"50('5,#ró.('/#
}>=(y(}N(BC(=C(:(Ç@=(F?C(ÑN(O;((FÇ>}(?C(FC((ÖC(aîrg(èrk(kip¥P(?;(Ö@(ÖC(
N(F(NL
CÇ(=;(EzC(A@(=;Ö(>(y;(yN(z@(z>?(ÖC(@=(Ç>(ÖN(=@?(.A(ON=A(5zC(?@(AC((FC((Ö@(z@(Ü(ÇC(
yC((;(AC(:(Ç@=(F?C(>FÇ;((ÖC(>(N(à>(O@(FC(>FOC(B@(ÖN(:(Ç@=(F?@(Ç(~>(Ö@(>(
?Nz(ÇN((N(CÇ(=;(AN(Ñ;(B>Ç(=@(}>=J(3~C(=@((FÇ>(A;(O@(DC(FC((ÖCP(*zC?L
F@=(A@DP("@(AC(-@D(>(6;(B@=(+;(y;(B>DP(=@(y>(F@(z>(FN(BÇ(
F~C(=@(;P(y(OC(=>B(|>(:(Ç@=(F?>(;:(=C(Ez@B(=;E(ÖN(=@(?@(;A(ÖCAL
=C(A;(A(;(ACP(|Ç;(ÖC(>=@(}C(Ç>(y>}(=@(É;Ñ(>(@OC(}(?>Ñ(
ÑN(O;((FÇ>}(?>Ñ(FC((Ö@P(@(B(=;(J
0@(FzC(AC(D;Ö(FÇ(3ÑC(O@(:(aîrg(èrk(kip¥P(=@(y(OCFOC(B@(ÖN(BC(z>(?@(=>(>FÇ;((ÖC(>(?Nz(ÇN((yO(:(FN(
=@O(B@(G=>(N(;B;O(FzN(}@(ÖNJ(.zC(OC=(Ç>(>(y(y}(=>(
>F(?ÅN(}>(B;(@(FFÇ;((ÖNP(Ç(~>(ÖN(>(?Nz(ÇN((A(Nz@(=>(
OC=(Ç@z(=>(y(Ç(N(CÇ(=;(EzCL
A@(=;E(É>z(O@(F=>(OÅC(=;E(y;(

*0*1,)*(&."5*10'2(á#-'"*(0*(+",-."#(7,1-34,á(!,6*1'2*(JJJ
Ç>}(=>Ñ(A>(Ö@(z;(E@(?;(Ö>(FC(;A(B>(Ö@(ÖN(N((Ö@(z;(>(N(?;(OC(A>(Ö@(O@(FN(=@L
y>(F@(=>(Ç@(?;(A@(N(à>(O@(;:>(zN(ÖC(ÑN(O;FÇ;(B(Ö@(ÖN(N(?;=(ÇC?(FÇN(
?;(Ö>(y;(O@(GC(EzC(A@(;(~N(A@(Ç@Ö(ÑN(O;J(áN(O;((FÇ>}(?>(CÉC(?@Ç(N(?;(OC(A>(Ö@(O@(
N(BC(z>(?;Ö(OC((y;(Ö@(}@(B@(ÖN(=C(BC(@FyC?(Ç>(ÑN(O;((Ö@(
>(F~C(=;(E(Ö@P(@z>(à>Ñ(DC(O;(:;E(;:>(O@(;B;E(J(
#( BC(D>(=>( A;(O@(D>Ñ( ÑN(O;((FÇ>}(?>Ñ( FC((Ö@( >( ?;(OC(A>(Ö@P( F~C(=@((FÇ>( FC(
NEz@B(=;O(AFÇ;E(|@(:z;(=@8(y;(=@(BÅ@(ÖN(|@(zC(>(EC(E;(BCP(F@B(ÑN(O;(=@(>FOC(Ö@(B@(àC(ÖCA(=;E(>z>(E(?;(B@P(Ny;(Ç(Ö@(zC(?@Ç(?;(Ö>(ÖC(
=@Ö(N(A@(ÅC(=>(Ö>(;A(FÇ@=(A@

åâã
ì#('()!"50('5,#ró.('/#
4@(A@(y(OC(=>(O;(ÇC(;((ÖN(;(y;Ö(O;B(=;O(FÇ@(y@(àN(=@(@=@(z>(N(BCP(A;(z@(>(O;(A;(Ç;(E@(A@(FC(BC(ÑN(O;(FC(y;(Ö@(BÅN(ÖC(
N(;?B>((Ö@(z;(E@(N(É>z(ON(O;(GC(?@(ÇC(E;((;(B@(Ç>(N(ABC(BC(DC(E(FzJ(¨N(C=EzJ(P9)=A:)H9:;(¨ÇC(=>(y(ÅCOJ(4@(A@(ÖC(F(?@(?;(Ö>(;A(E;(B@(F(?@(N(FB;E(F@(E;(B;(?@(>(OC(à@(àCL
E;(BN(yÇ(=N(@(O>(F@;J(%@(Fz@(:@(Ç@}(?@P(?@(?;(@=@(z>(@(;B;E(?;}(?C(>z>(y}(?C(y((Ö@P(
Ñ;(O;(=>(O>(Ö@P(y;(EO(A@(ÖC(A(ÖC(=@(}C(àCJ(!O((O@P(Ç;(FBCL
F=;(y;(E(y;(O;(DN(ÖC(>(?@P(
ÖC(ON(y(E(B@(à>(O@(N}C(F=>(?@(N(=(ÇC(B@(=;OJ(
4@;(>zN(FÇ(Ö@(=@O(O;(GC(y;(FzN(G>(Ç>(F~C(=@(>(É>z(O@(N(?;(Ö;Ö(Ez@B(=>(ÖNL
=@?(Ü(2(àC(E;(B>(y;(O;D(=>(~>(°C(A@(&C(Å@(>(5;(zC(y|(>(
yC(B@(ÖN(AC(}>(ÖN(yC(FO>(~NJ((,(>E(yC(FO@(?;(Ö@(FC(yC(B@(N(ÇN(
>E(=C(CzC(OC=(ÇC(?Nz(ÇN((AB@(AC(FCÇ(y(z(ONJ(#y(Ç;E((z>?(A@(ÖC(FC(:>(
@(y(~N(y(@zN(>(ÖC(>(É(Ç>}(?C(A;(E@(@(ÖC(EzC(A@(z@(~@(>(O;(AC(y>(Ö@P(+>(y>(
AN(E@(}@((Ö@P(|=>~(z@(?@((?;(z>(?;(>O(ÖC(FÇ@(z;(A;(y;(OC(=N(Ç>Ñ(y;Ö(O;(B@P(Ü(2(àC(E;(B>(
y;(O;D(=>(~>(yN(|Ç@(ÖN(E@(F;(BC(y;(FzC(FB@(?;E(A;(:(BC(AC(=;E(;?(=C(=@(A@(4@((Ç@(?;(A@(FC(;=@(=C(;A(=;(F>(=@P((O;(
NE>(=N(z;E(O>(|@P(BCD(=@(àC(E@(>(àC(E;(BC(y;(O;D(=>(?CP(?;(Ö>(FNP(;}>(EzCA(=;P(G>(B>(>(

*0*1,)*(&."5*10'2(á#-'"*(0*(+",-."#(7,1-34,á(!,6*1'2*(JJJ
AJ(-@(=>(yN(z>(|N(D>(F>(ÇN(@(~>(Ö;OP(2(}C(FÇ;(y(:C(E@(B@(z>(N(;B;O(É>z(ON(ÖC(FÇC(>(N?ÅNL
}>(B@(àC(yC(BC(EzC(A@(z@(~@(N(F@(ON(z(O@(Ny;(Ç}(=;E(@(F@(B(ÖC(>?P(|Ç;(FC(O;(GC(N;}>(Ç>(N(E;(O(y(OC((O@J(0@(>(OCP(N(;B;O(É>z(ON((F~C(=;(E(Ö@(É>z(O@(y(AC(BCÇ(=@(C(FÇ;E(BC(?@(¨>@?;(=@F(y;(=C(?@A(>(=C(?>O(AO(AC(Ç@(Å>(O@(
y;(BC(GN(F@(O;(ACO(A;(:;O{(FN=(}@(=C(=@(;(}@(|P(>ÇAJP(@z>(z>(?;(B>(}CL
FÇ;(?;((FÇC(B;(?@(:N(z@(CzC(OC=(ÇC(?Nz(ÇN((y(y@(A@(ÖN(B((BC(EzC(A@(;(~>(É>z(O@J(0@(Ç@Ö(=@(}>=(FC(y;(Ö@(}@(B@(ÑN(O;L
(FÇ>}(?>(CÉC(?@Ç(>(y;(?@(N(ÖC(N=>(BCJ
3z>(?;(B>Ç(y(OC(A;(?;(O>}(=;E(CÉC?(Ç@P(ÖC(FÇC(F~C(=@(?@(A@(4@((N(Cz(=;P(
=@(;F=;(BN(?;=(ÇC?(FÇ@(>(N(F?@z(AN(F@(yC(B@(O@(Ç@(AB@(z>(?@(FOC(|ÇC(=@(N(
åââ

ì#('()!"50('5,#ró.('/#
B(;?B>(?;(B>(N?ÅN(}N(ÖC(>(yC(BN(EzC(A@(;(~@P(>@?;(FC(z>(?;(B>(y;(=@(|@(ÖN(?@;(
A@(B(;?B>(ÖC(FÇC((
;}C(?>(B@(=;J(+=(Ç>O(=>J(5@(:@(&>(A@(=@(FC(B(ÖN(
y;(?N(|@(B@(ÖN(D>(A@(>(BN(}C(|Ç;(B>(|C(=;B(~@(;A(àC(E@J
4{(ØA(O>(O@(z;(N(:N(AND(=;FÇP(>O@O(y(|C(y(O@( ?;(Ö>( FN( Ç>(y>}(=>( @(
F@(B(FNP(=@((àCJ(-C(N(Ç>O(P(Ny( }>(àC(=>(~@( A@( FC( z>(?;(B>( y;(=@(|@(ÖN( Ç@(?;( ?@;( A@( =>L
FN(FBC(F=>(F@(B}(?;O(CÉC?(ÇNJ(0@(y;(FzCÇ(?NP(
Ny;(Ç(?;A(EzC(A@(z@(~@(>@(>(B@(@F;(~>(Ö@(~>(ÖC(BC(@(=C(@(;A((O;(EN(y;(>L
E(>(F@(FÇC((y>(O@(BC(@(=>O(@(NFÇ@(ÅC(=C(|@(zC(>(Ny;(Ç(?@(?;(Ö>(FC(
=@Ö(}C(|DC(?;((FÇC(N(A;(O@(D>O(?;(OC(A>(Ö@(O@J
úO'W"'Pe'fT
,@?;(;B@Ö((ON(y(C(BC(@(BC(OC=(>(ÖNP(BCD(A@(ÖC(N(@=@(z>(N(=C;(y(Ñ;A(=;(
N?ÅN(}>(Ç>(B>(|C(yC(B@J(0@Ö(y(z@(>(>(É>zO(F?>Ñ(
A>(Ö@(z;(E@(>(?;(Ç>(=@(AB@(;F=;B(=@(Ç>(y@P(@(B>(F=;(;A(Ç;(E@(
A@(z>(z>(?;(B>(FBC(F=;(O@(=>(yN(z>(|N(>F(?@(;O(>(=@(OC(z>(
FC(Ç;(AC(|@(B@(FzN(}@Ö(=;P( ÖC?(N(;( FB@(=@(}C(à@(
y(?;(B;E(>F(?@(@(>z>(=>(ÖC(A;(B;Å(=;((E;L
B;((@(?;(O>}(=C(CÉC?(ÇC(O;(EN(A@(
åâä

*0*1,)*(&."5*10'2(á#-'"*(0*(+",-."#(7,1-34,á(!,6*1'2*(JJJ
:N(AN(AB;(=@}(=C(>z>(B>(|C(=@}(=C(P(;A(=;(F=;(y;(z>(FC(O>(Ö@(>(Ñ;(O;(=>(O>(Ö@P(
>@?;(ÖC(y;(=C(?@A(B((?N(>(OC(N(;BC(ABC(y;(Ö@(BCP(@(Ç>O(
y;(E(~>(N(O(OC=(Ç@z(=>O(
yO(FC(y;(Ö@(BÅN(ÖN((}>(ÇC(BC(C(?@;(|Ç;(FN(@=@(z;(E>(Ö@P(
@F;(~>(Ö@(~>(ÖCP(z;(E>}(?;(@(?ÅN(}>(B@(àCP(OC(Ç@(É;(}(?;(>z>(OC(Ç;(=>(O>Ö(F?;(yL
?@(B@(àC(>ÇAJ(4@;((@O@(z@(E@OP(;A(=;(F=;(OC=(Ç@z(=>(y(Ç>(N(ÖCA(=N(y;Ö(O;B(=N(FÇ((Ç>(N(ÖC(>(?NJ(
4@(A@(ÖC((>(?;(FO;(A@(FC(?;L
O>}(=>(CÉC?(Ç>(y;(FÇ>(GN(=@Ö(yÑ(yC(B@P(y(}C(ON(
z>(?;(B>(?;(Ö>(N}C(FÇBN(ÖN(N(A>(Ö@(z;(EN(>z>(=@(OC(A;(Ç;(E@(A;(z@(>(FzN(}@Ö(=;P(ÖC(FN((y;(O(
ÖC(NyN(DC(=@J(+;((N(y(OC(N(z>(?;(B@P(>(FB;(ÖNJ(0@(
=>(B;N(ÖC(>(?@P(ÑN(O;((}@(ÖC(=;E(=@(}>(=@((|Å@(à@J(ÜC=(Ç(|C(=@}(=CP(>z>(}>(Ö@(FN(=@(}C(à@(:z>(GC(>z>(A@(ÅC(y;(BC(@(=@P(
@(Ç>O(>(BC(AC=(~C(?;(ÖC(>O@(ÖN(F@(FB>O((}>(Ç@(=@(}C(à@P((}>(Ç>((FÇP(
FÇ>(z;(B>P((O@P(>E(Ö@P(>ÇAJ(
3B@(?@(?;(:>(:>(z;(>=(ÇC(zOL
F?>O(>(ÇC(zC(B>(>Ö(F?>O(A>(Ö@(z;(>(O@(BCD(=@(FÇB@OP(@(Ç>O(NÇB(Ç>(?;(Ö>(FN(
;A(;B>Ñ(OC(Ñ@(=>(@(O@(=@Ö(}C(|D>(>(?;(Ö>(>@(>(B@(ÖN(BC(D>(>z>(O@(à>(?;(O>(}@=(CÉCL
?@ÇJ('F>O(Ç;(E@P(=C(?@(;y(|>(Ö@(@=@(z>(@(:>(Ç(>(B@=(ÖC(>}(?C(
CzC(OC=(ÇC(?;(Ö>(F@(BCO(ÑN(O;((O(N(=C(?;O(A>(Ö@(z;(EN(}>(=C(Ñ@}(=N(~C(z>(=NJ
VTS\$"Se$"'
QhhrpkmP( RJ( ¨KII§J( 89:;9b) >J@FG9@=) Fi) t

ì#('()!"50('5,#ró.('/#
ap‚niP([J(¨HMMäJ(dïñipL(rnk(vsjlnkipjhrnksno(sn(snhiprghsmnrî(ólvmpJ(äF9b=(§MP(HMHâ8HMãKJ
brlgmnnsipP( [JP(VlpnipP( ôJ( ¨HMMHJ( [J@) _Ae) _@) [J9:RÇ) cF:b@B>J@)
o9:HI=)t9HH@:)cFPB@ñ9>9@=s)Wi(†mpè{(arjsg(ammèjJ
[smprP(`J(¨KIIKJ(Sn(hói(gmonshsui(rjñighj(mò(hói(ìmèiJ(äF9b=(KãP(§ãå8
§äåJ
ü“uigjijP(õJ(¨HMMãJ(8A:;BCÇCÇ(N(0;B;O(3@ANP(3Ö@
7>z;;ÉF?>(É@?NzÇCÇ
iLvrsî{(jhrnèsgkÀilnihJpj
åäM

O786=H#:h8hYFi
b-30-X-4)1Y–'a/1bZ,1X`[1/)1Y–O''
01,Z3*.'a*[1¨Ä'a*3)-*'.1X,–)4X)34'*'[—X)4,41
&n(kivipjlî(vilP(rv(snhinsr(jƒ(jhlksi(rjñighiîi(glîhlprîi(s(ivmsmnrîi(rîi(îsvwssP(›n(
jñigsrî(sksjsngprsr(ñprghsgsîmp(îsnousjhsgi(›n(îsvwrìlî(îshiprpJ(Vsvmhóï(erïP(›n(O=ebJFCF;e)
Fi)8A:;

åäH
cAGP@:)^zGzf9PBs(Tr(›n(giîi(ksn(lpvƒ(dipm(jƒ(gmngóskƒ(gƒ(wmrîr(jr(îsnousjhsgƒ(s(ji(hpƒoir(ksn(
rgiir(gƒ(ir(ki(òrñh(hmh(hsvñlî(kmpvirP(niñlhnk(nsgsglv(jƒ(pƒwrhƒ(îr(hpisiø(¨^rusgP(
ñJ(HHJ(Xsnhpl(›ngiñlhP(hsvñlî(mwsighsu(ijhi(jljñinkrhP(ñipjmnrìiîi(hpƒsijg(›n(=@P:9{­
bA:>l)›n(ñmhinsrîshrhi(snûnshƒP(piòlnk(jƒ(rîiroƒ(ln(=@P:9{bA>)grjhprhmpæ(rggiñhrpir(
ñpiinhlîls(ijhi(rggiñhrpir(vmpssP(›njƒ(jljñinkrpir(hsvñlîls(kƒ(sîlsr(jljñinkƒpss(
vmpssP(piòlossnklLji(›n(jivnsûgrnhlî(grpi(piòlƒ(oipvsnrsr(hivñmprpƒJ(dipm(snjiL
pirƒ(›n(hprklgipsîi(jrîi(ksn(rlhmps(òprngis(ñpmñpssîi(ñmuijhsps(¨gr(gir(r(gƒñshrnlîls(

dY`ôYWY\VUTµ(^RUdSZUW[cURVUTµJ
^ihrp(ki(cshèmusíP(grñhsuP(gr(irP(›n(jl¿ihiîi(vsoprhmrpi(rîi(rîhmpr(mps(ñmuijhir(îls(dipm(
s(Zirnkpl(îr(oprnsr(ksnhpi(usrƒ(s(vmrphiJ(
Xmlƒ(vrps(ñrprksovi(jhplghlpirƒ(rvwiîi(ñƒps(rîi(pmvrnlîls(8(ñmuijhir(îls(ZiL
rnkpl(hprnjñljƒ(›n(jigmîlî(¢cUU(s(ñmuijhir(jlpmpss(jrîiP(dipmP(hprnjñljƒ(›n(jigmîlî(
¢¢{(vmrphir(s(usjlîP(gmnhlprhi(›n(ñpmsigss(rhivñmprîiJ(Xijñpi(sómpsí(hrhƒîP(ji(hsr(
gƒ(hpƒsihi(ksn(rñƒ(s(ksn(vmrphiP(ñinhpl(gƒ(vipil(ji(hpƒsihi(ksn(vmrphiø(¨UwskivP(ñJ(
KMP(srp(›n(pmvrnlî(îls(dipm(L(kpiñh(mpsosni(r(hsvñlîls(ijhi(skinhsûgrhƒ(vmrphir(grpi(
ni(lpihi(hsvñlî(gr(ln(ñƒsrnìinø(¨UwskivP(ñJ(çMJ(ôrnrjsìi(alèlpP(òprhiîi(dipmniìisP(
›s(rjsvsîirƒ(jmpr(vmpss(rhlngs(gnk(›s(jñlni(ñmuijhirLn(ñmuijhiP(lhsîsnk(›n(góisi(
ñmjhvmkipnƒ(hiónsgr(ñmuijhspss(›n(prvƒæ(nƒjglhƒ(›n(KIKMP(ir(r(›ngiñlh(jƒ(vmrpƒ(s(
jƒ(ji(jhsnoƒ(ñi(nimwjipurhi(upivi(ki(kiginssP(ñnƒ(›n(slr(elkigƒss(ki(Qñms(gnkP(›n(
ûniP(jLr(jòpsh(s(romnsrø(¨swskivP(ñJ(åHP(jivnlî(klwîis(jrîi(rñrphinini(ûsnk(lnoósL
sîi(grpiLs(gpijg(›nhplnrJ(^sîmnlî(òipv(›n(ìlplî(gƒplsr(iumîlirƒ(ijhi(vmrphiræ(ijƒhlpr(
ki(glusnhi(kiusni(gmphsnr(ñpsn(grpi(ji(smîirƒ(ki(rgirjhrP(ñlphnk(›n(jsni(jinhsvinhlî(
kiumprhmp(rî(iòiviplîls{(Urp(›n(ñpsusnr(vmpssP(ijhi(jsnolplî(îlgpl(ki(jlw(ñƒîƒpsr(
gipirjgƒ(rskmvr(rpñiîls(grpi(ji(ñmrhi(gƒƒpr(sLn(jlj(sLn(ìmj(ñi(rpwmpiîi(mwpsis(
nmrjhpiø(¨UwskivP(ñJ(KãJ(Ukirîlî(ijhi(ki(r(hpƒs(usrr(›n(pshv(prñskP(òƒpƒ(r(ñpsus(›n(lpvƒæ(
rgirjhƒ(ushiƒ(isjhinsrîƒ(ijhi(ln(piòl(ki(r(ƒwmus(s(ki(r(ñlni(›nhpiwƒps(gl(ñpsuspi(
îr(jsni(s(îr(gisîrîsP(›nhpLln(gmnhih(glîhlprîLsjhmpsg(ihipmoin{(Zirnkpl(ji(kijglpgrji(
wsni(›nhpi(kmlƒ(svñipss(s(hpis(gpiksniP(›nhpi(rhhir(îsvws(grpi(wƒhirl(gr(s(unhlpsîiø(
¨UwskivP(ñJ(HåJ(&nhînspir(gl(Xijñsnr(nl(ijhi(nsgsmkrhƒ(m(gmnìlorpi(òiphsîƒæ(mpsgh(jLrp(
rñpmñsr(îsnssîiP(ipr(pƒvn(ñrprîiîiæ(jñspshlî(gpirhmp(sLî(vrnsòijhƒ(sksnk(hpis(wsjipsgs(›n(
ñîsnƒ(snursi(ñƒonƒ(8(òmpvƒ(ki(gpirsi(r(›njsnolpƒpss(ñpmòlnkiJ(S(piîrsi(ilrhƒ(ijhi(
s(gir(ksnhpi(dipm(s(ôrnrjsìi(¨ksnhpi(dipm(s(ümwrîr(›n(ñrphir(r(kmlr(r(pmvrnlîlsJ(
&ngƒñƒnrpir(gmnjhplgsis(›n(hsvñlî(ñljhsspss(ijhi(òmpvr(skirîƒ(ki(r(ji(rlhmsîlsmnr(gƒ(
›nusnoi(vmrphir(ñpmmpmgshƒP(ki(òrñhP(vmrphir(›n(jsni(8(vihròmpƒ(r(rlhmplîls(›njls(ki(
rLs(ijhmvñr(òpsgr(ki(vmrphiJ(Wsgs(vƒgrp(skiir(ki(r(û(niumsh(jƒ(skirjgƒ(m(wsjipsgƒ(
ki(psh(grhmîsg(nlLî(mñpihiP(niumsr(snhipsmrpƒ(rpórsgƒ(ûsnk(vrs(ñlhipnsgƒ(kigh(pnklL
srîr(îlvirjgƒ(upiviînsgƒJ(Zirnkpl(ji(pihproi(›n(asjipsgƒ(¨kiuinsnk(gƒîloƒplî(Upsniì(
õrólvjèsP(klñƒ(nlviîi(vƒnƒjhspss(grpi(sLr(jgósvwrh(jhrhlhlî(L(jgósvwrpir(nlviîls(
vsirƒ(ñi(òmpr(glunhlîls(ki(r(›nhivisr(s(ki(r(pi›nhivisrP(srp(ôrnrjsìi(ji(pihproi(
›n(vlsgƒJ(Ys(rl(piuiîrsr(ñmjswsîshƒss(rhsnoipss(kmrp(ñpsn(snhipviksrpæ(›n(ñpsvr(ñrphi(
rgirjhr(ji(ñihpigi(ñpsn(svrosni{(m(uigói(sgmrnƒ(ksn(^iîromnsr(gi(lpvirƒ(r(û(›nólL
vrhƒ(›î(piñpisnhƒ(ñi(Rònhlî(Umrn(amhiƒhmplî(grpi(rhsnoiP(›n(snhinsr(ki(rLs(rprnìr(jrnL
krlr(gƒlhƒP(gƒîgslî(vsglîls(Ujlj(rîƒñhrh(ki(ôrsgr(XmvnlîlsJ(Rlpñpsnj(ki(rhsnoipiP(
vlgƒ(jnlî(vrvisP(grpi(›î(ñpsuihi(gl(jlpñpsnkipi(ñi(nl(ñi(gmñsîP(gs(Rònhlîls(UmrnJ(
&n(ñrphir(r(kmlrP(rhh(jmprP(gh(s(òprhiîi(rl(m(piîrsiP(ñi(pnkP(gl(hnƒplî(mûip(ümwrîr(
¨nlvi(jsvwmîsgæ(piîrsr(snhipsjƒ(ji(vrhipsrîsirƒ(ñpsnhpLm(snhipviksipi(gmnhpmuipL
jrhƒJ(asjipsgsîi(gmnjhplshi(rl(›n(gmvln(gƒpƒpsîi(grpi(îi(lnijgP(jlw(òmpvr(jivnlîls(
åäç

åä§
cAGP@:)^zGzf@>AP(ñpsvr(s(lnsgr(îshipƒ(ñi(grpi(m(›nuƒrji(gnkurJ(Qrkrp(ji(jlwjlvirƒ(TlunL
hlîlsLRivnP(ñi(grpi(›î(›nuijhihi(gl(ñlhipi(ki(gpirsi(oiniprhsuƒJ(TƒlhnklLjiP(iî(ji(
›niîioi(lnsksvinjsmnrîP(gmnòmpv(jsvwmîsglîls(jƒl(jsjhiv(ki(piòipsnƒ(ki(ñnƒ(rhlngsP(
ñinhpl(gƒ(hihlî(ijhi(viksipir(ñpsn(grpi(ni(›niîioiv(ñi(nms(›nsniø(¨`sgmilpP(KIIå{(
ñJ(KMãJ(Skrhƒ(gl(gmnhsnlrpir(rîòrwihsƒpssP(›niîioipir(prñmphlpsîmp(jrîi(gl(îlvir(ji(
ksuipjsûgƒJ(Wƒumklîø(ijhi(ln(îishvmhsu(rjsvsîrwsî(îrnlîls(ki(jivni(îsnousjhsgi(snhipL
kiñinkinhiP(r(gƒpls(pisjhinƒP(usrwsîshrhi(hpiwlsi(vipil(pirghlrîsrhƒæ(ijhi(›nuƒƒhlpr(
ñi(grpi(m(ñpsvihi(Zirnkpl(ki(îr(hrhƒî(jƒl(gl(ñpsuspi(îr(òiîlî(›n(grpi(hpiwlsi(jƒLs(vinL
snƒ(lpirîr(usiss{(L\shƒLhi(îr(nmklpsîi(s(nmklîiiîi(rjhiræ(jlnh(rjhòiî(ñmhpsushi(›ngh(
ûigrpi(nmk(jƒLs(snƒ(jhpnj(gmrkr(s(jƒ(nl(îrji(jƒ(s(ji(kijòrgƒø(¨^rusíP(ñJ(çä(rjsvsîrwsî(
îrnlîls(ki(jivni(îsnousjhsgi(snhipkiñinkinhiP(r(gƒpls(pisjhinƒP(usrwsîshrhi(hpiwlsi(
vipil(pirghlrîsrhƒæ(ijhi(›nuƒƒhlpr(ñi(grpi(m(ñpsvihi(Zirnkpl(ki(îr(hrhƒî(jƒl(gl(ñpsL
uspi(îr(òiîlî(›n(grpi(hpiwlsi(jƒLs(vinsnƒ(lpirîr(usissJ(Zr(gmrîr(jpwmLîrhsnƒP(Upsniì(
›nurƒ(ñmuijhir(opigirjgƒ(^GA;F=>@A)~9)PFAG>@A)C

dY`ôYWY\VUTµ(^RUdSZUW[cURVUTµJ
grpi(rpi(niumsi(jƒ(›nuii(hsvñlpsîi(uipwrîiJ(Qgijhir(kiusn(ln(òiî(ki(impgsjv(ñpsn(
grpi(ûigrpi(›ngirpgƒ(jƒ(rggiñhi(hpiglhlî(jrl(ñpiinhlîP(jsnolpiîi(hsvñlps(uipwrîi(ñi(
grpi(gmñsîlî(¨kis(òrvsîsr(m(sngîlki(s(ñi(ûsgr(rwjinhƒP(òmîmjsnk(ñîlprîlî(îi(jhƒñnihi(
jlnh(giîi(rîi(usshmplîlsP(rîi(rgslnsîmp(ñmhinsrîiP(krp(nivrhipsrîsrhiJ(`nk(ñi(pnkP(s(
glnmhsniîi(jrîi(piòipshmrpi(îr(hsvñlpsîi(uipwrîi(ji(ijhmvñirƒ(rhh(›n(îsvwr(vrhipnƒP(
gh(s(›n(îsvwr(òprngiƒJ(`iîrsr(jhprnsi(ksnhpi(ir(s(îlvi(ji(hprklgi(›n(ñîrnlî(òmpviîmp(
uipwrîi{(Ypr(rwjmpwshƒ(›nkimjiws(ki(Q99>FGFG)HF9l)rr(glv(Zirnkpl(ksn(ñrphir(›nhs(r(gƒpss(ji(piòlosr(›n(
BF9Py9:@s)Vsvñlî(ñpiinh(ijhi(ñrprîsrhæ(›n(gslkr(gmmpkmnrhiîmp(hivñmprîi(ksn(rvwiîi(
ñƒps(rîi(gƒpss(8(jigmîiîi(¢cUU(s(¢¢(LP(›n(vmk(pirî(is(hpƒsijg(›n(rhivñmprîlî(vshsgP(
›nhpLln(ihipn(jivnsûgrnh(orhr(jƒ(sr(òmpvr(lnls(jivnsûgrh(gmnìlnghlprîP(gl(iñipsiniP(
jinjlps(s(rvsnhsps(hprnjvsji(›n(hsvñlî(mwsighsu{(\shnklLji(›n(snuinhrplî(jƒlP(kijgmL
ñips(gƒ(nsgs(›n(usj(nl(isjhr(>9PB(ñinhpl(giî(grpi(usjrP(gs(rñƒpir(gr(AHQ@Gf)
H@)>9PB(ksn(ñpiinhlî(usjƒhmplîls(jlw(òmpvr(lnis(rgslns(ñrprîiîi(gl(hsvñlî(›n(grpi(
kmrpviJ(Zsnousjhsgr(usjlîls(rpƒhr(gîrp(gƒ(isjhr(ln(AHQ@Gf)H@)>9PB(usjrh(s(gƒ(kplvlî(
jñpi(ñpiinh(hpigi(ñpsn(usshmp(gósrp(s(›n(usj¥(¨^rusgP(ñJ(HKJ(Qrkrp(nl(rgslnir(›n(jsniP(
gs(ln(kihipvsnrnh(rî(rgslnss(grpi(jiovinhirƒ(ln(ñpiinh(gmnhsnllP(knk(sîlsr(ki(
hpiglhP(ñpiinh(jsvñîl(s(usshmpP(ñinhpl(gƒ(slr(ki(vsni(›ngiñi(vipil(›nrsnhir(sîis(ki(
rjhƒsJ(^psmnsips(rs(lnls(ihipn(hsvñ(usshmpP(usjƒhmpss(iushƒ(gmnhmñspir(gl(Ab

cAGP@:)^zGzfG@9l)svL
ñrpƒ(s(snûnshƒ(rñrpi(›n(ñpsvr(ñrphi(r(pmvrnlîls(8(hpis(nlvi(rîi(îls(ZirnkplP(hpis(
wsjipsgs(gmnjhplshiP(ñi(gnk(gsòpr(BA>G

dY`ôYWY\VUTµ(^RUdSZUW[cURVUTµJ
+1+,1Z`3*L1-
argóiîrpkP([rjhmn(¨KI§äP(8A)>@GG@)@>)C@=)GÏQ@G9@=)H@GAGzs)Z)9:>GFH@FG9A)G@b@B>zG99l)YkJ(^mîspmvP(UrsP(hprkJ(ki(Xiîsr(\nolpirnlJ(
bprsjjiP(^J(¨KIãçP(OGDiAb@)in(eJ(ki(Qìlpsrolippr(¨ptkJP(OGFfCdP@=)H@)B=ebJFC9:;9?9b9l)))TrñJ(KKP([Gz9G@A)R9:@=>@k9bz)A)>9PB@A)CzG9bz)A)Qy:>

7,1')'734,(7*4#1%.%(#(0'&'-(3*!#
!D@(H
HKMMM(0;B>(3@A
Viî{(¡çäKHK§äåçIMM
¡çäKHK§äåçäâç
JòòJlnjJrgJpj
$Ç@Oy@(>(yEC{
$Ç@Oy@Ö@(4-CzP(5NA>F@B@
%>@~>Ö@(N(yN:z>?@~>Ö>
5>:z>;ÇC?@(-@Ç>~C(F(3@A
äKfçç¨MäH
PQR]$\!'h9'ã