КРIЗЬ СМIХ ЗАЛIЗА - Litopys UPA

555
Ñòåïàí Ñòåáåëüñüêèé ("Õðií") Îëåêñà Êîíîïàäñüêèé ("Îñòðîâåðõ") ÊÐIÇÜ ÑÌIÕ ÇÀËIÇÀ ËIÒÎÏÈÑ ÓÏÀ, òîì 30

Transcript of КРIЗЬ СМIХ ЗАЛIЗА - Litopys UPA

�������������� ����������

��������������� �� �������������

������������ !��

!�"�#$��%# &���'�()

����������� ������

*+,-./� *+,0,12345����������

61,42.� 78/8-.92345���������������

:;<6=>;�:;?�@A=>;:?<6B��<6C

������� ���

!��������"��������#�$ ���

#%�����������&'����� ��()

��������*��+����������, ����%�,(�����-(����������.���

/�01234�56789:4;619�21<408:4;619�87=>90?@���

������� ������� ���AB�C��

������ ��������� ���1DEB?FGBH��

������������ !��

0?B?CE?�*�/IF�F���<JKLFCJMEF?�/�E?NJD�528����.���

�AB?C�OJ�

P�LCQR�SDIOJ@�BGTU@G

7GKLOE?B�2GEB?�V'�2?E�WCJS

XX6�Y�'���Z�567����*�[Z<JKLCC\

1X]^_:8::`�61/3a:�A�<1`6�<�528�<�4a8���68:8_�EL

01<87340<�61/3a:�A�<1`6�<�528>='�bc:'�A17'�087848�d5273:63�<�4a8���68:8_�

7GKLQef�6?RGQ�\<�KN?F�KLRICJS�BGKLOE?Bg�2'�V'�2?E�WCJS

��-(��$��g� �.����,(�����-(�����hig��jk.��k.jZ.jl

�.����0T1<��/mE?NJD�528���hig�kYYjk[YnZj.jZ

1oORLKJCOL�B?o?EJ@JDEM\�=JB?CL�/GFJMIO?Q?

D.+.18EF�/E� �/� -F01�G.+�8/� 9.+.H���,� �+�(�p� ���-"�p� qkqZ�*� qkZk'

���r� ������ r" �r"g� ��������"�s� ���-"�����,� �+�(�� ���������p� ���"� ����-"%�+�(�� ��������������t��%"�����"� ������ &'� ���� ��(�'�*�������� g��j��� ����-(���p� .���'�*[[.�-'p�Z.� � 'p�-���'g� .Z� �'�*����-(����"���+���� -����"��+���� "����t� �'� ��

%%�%� ��� �� ���#�$ ���g������$�� �����"�$������u� ����'�� �%��� ��%�v'��hig� �jk.��k.jZ.jlq'� ���,� �+�(�p� ���-"�p� qkqZ�*� qkZk'� .'� ����-"%�+�(�p�� ���"pqk.��*� qkZw'� �'���"���+�"� -����"��+�"� "����"'� Z'���"����*�x�����(pqkZq�*� ���� ���'� ����-"%�+�(�p�� ���"p� qk.��*� qkZw'� ��'� ���� ��()p� ������ &'p� qk���*

���'������$�� �����"�$������u� ����'� ��'�������

I7J)KLK(L�*MN�A(��OI7J)KL�MPL�@J�+L�()Q

y��(-�������$�z���{����,(���, �����$�x������u�������� (�� ��� p�.��� ���"����'p�nk���p�����������%�,(

[Y[Y

!��"� #�"��#$����"�����%��" �����&�&�"�

$���������%���&��%&�'(�)��������*���&���)$�&�)�&�&���%���*& *)�*��%&�+,�&*��-���.��

$�/���������)*&/ &�)�&��� ��*&�� ����.&$��*��������� ����*��%/�,���������.. ����

* 0���1��� �*��*���� &�0&����� ,�����,�$���)�����*��/�� ��*&..0�,����������� ���/

�� �*������ ���*�*�$������� �0� ��*&/�,�&� �����&,�����,*0(� �+���(�� 0� .. ,�0��'����,���� *������� �������* ��

2+ ���'�� ��� &�(�34�����

2?\FL�MI?Q?�E?@e��/mE?NJDe�528��e@?|RJFRGCL}GKBJ@�KLB?@�T�NBJFLEC?Q?�~?CKeDR'�N'�KjBL�X?QKLCL�4EGoGRIDIO?Q?

��qkqq�0?@L�mFMmp�5OBL�CL�*�qkkZ�0?B?CE?p�6LCLKL�pDELB�?Q?�oBLEL�4EGNLCL�ABmCL��4EGoGRIDIO?Q?�'

_LB�e�De@m�KFLKM\EI�KFm�EJD\Wm�OLC'�K?RLBmF�K?N?FCGC?�De@?UFmDm@�EJD\W�OLC'�K?RLBmF�mT�TomBOJ

CL��<JKLFCJWJS�~?CK�m@'�X?QKLCL�4EGoGRIDIO?Q?�pDEF?BGCJS�NmDR\�S?Q?�D@GBEm�.n�RJNC\�qkkZ�B?Oe'

[Y[Y

q� �0GE\CL�'�2GBGK@?FLp� 4N?@JCJ� W?E?F?Q?�1DEB?FGBHLg� AB?C�OL� 0LOEJWCJHF�KEJCO�F� 528� �/G@O?�� �� �=LO�FOL�p� qkZZ*qkZw'�=UCHGCp�_?� PoB?�p� qk[�p� DE'� w'

R�"%#

5�M�S�OCJT�� �/�E?NJDe�528��T�oBLC�� DN?QLKJ�KF?H�F?\O�F528p� 4EGNLCL�4EGoGRIDIO?Q?� ��AB�CL��� EL�1RGODJ�6?C?NLKjDIO?Q?� ��1DEB?FGBHL��'����DN?QLKJ�N?F+\TLC��?D?oL@J�LFE?B�Fp\O��FGRJOe�WLDEJCe�DF?Q?�N�KN�RIC?Q?�|JEE\�NB?FGRJ�BLT?@�FE?@e�DL@?@e�WLD�p�e�EJH�DL@JH�F�KK�RLH�528�EL�CL�EJH�DL@JHEGBGCLH'� 1oJKFL� LFE?BJp� OBm@� DF?�H� FRLDCJH� NGBG|JFLCIpCLSo�RI�G�eFLQJ�NBJDF\WeUEI�\OBLT�o?S?FJ@�K�\@�O?@LCKJBL�AB�CL�'

4EGNLC�4EGoGRIDIOJS�f�LFE?B?@�KF?H�DN?QLK�Fp��6B�TI�D@�HTLR�TL��EL��PJ@?U�F�oeCO�B��'�<�C��H�NJDLF�DL@p���E?@e�F�K�CJHF�f� o?S?FJ@� KeH?@� LOEJFC?Q?� S� LQBGDJFC?Q?� NLBEJTLCDIO?Q?O?@LCKJBLp�LRG�ELO?|�WeERJF?Q?�oLEIOL�EL�F�KKLC?Q?�NLEB�?EL'4N?QLKJ��AB�CL��F�KTCLWLUEID\�M�OLFJ@�DEJRG@p�o?�LFE?B�Ke|G|JF?�?NJDef�CG�E�RIOJ��o?S?F��K��p�LRG�S�NGBG|JFLCC\�eWLDCJOLo?Up� FORUWC?� T� S?Q?� T?B?FJ@J� EL� DReH?FJ@J� FBL|GCC\@J'_e|G�oLQLE?�N?GEJWC?DE��e�S?Q?�?NJDLH�NBJB?KJp�\O�EG|�Ke|GM�OLF?� NGBGKLCL� ?oDGBFLM�\� NB?� N??KJC?OJH� ?D�o� EL� �HHLBLOEGBJDEJOL'

PC?Fe� |� �4N?@JCJ� W?E?F?Q?� 1DEB?FGBHLg� AB?C�OL0LOEJWCJH�<�KEJCO�F�528��/G@O?�����=LO�FOL�p�qkZZ�*�qkZw�*MG�eDC��B?TN?F�K��1RGODJ�6?C?NLKDIO?Q?p�\O��CJ�O?@�TLNJDLRLpL� N?E�@� NGBGNJDLRL� 8CCL� dGBG�CI?FDIOL� �F�DEeC� �0GE\CL��p@L�JC�DEOL�0<�528��=LO�FOL�'��1DEB?FGBH�p�\O�OL|G��0GE\CL�poeF�CG�E�RIOJ�K?DF�KWGCJ@�N?FDELCMG@��}G�e�oGBGTC��qkZZ�B?OeF�C�DELf�o�SMG@�528�N�K�NDGFK?C�@?@��0?N?R\��F�D?EC���XeRLFL�pL�?N�DR\�DE'�F�DE'�EL�W?E?FJ@�e�D?EC���AB�CL��p�LRG�S�NBGOBLDCJ@B?TN?F�KLWG@p�F�C�CLF�EI�@LSDEGBC?�CLDR�KeFLF� Q?R?D� EL�BeHJEJH�?D�op�NB?�\OJH�B?TN?F�KLFp�LRG�MU�@LSDEGBCmDEI�CL�NLNGB�NGBGKLEJ�FL|O?'q

2B?�1RGODe�6?C?NLKDIO?Q?� TCLf@?� Ke|G�@LR?'�2?H?KJFF�C�T�CLM�?CLRIC?�DF�K?@?Q?�D'�bReKCL�CGKLRGO?�@'�_JC?FL�CL/G@O�F}JC�p� KG� CLB?KJFD\� e� o�KC�S� B?KJC�� e� qk.�� B?M�'� <�K@?R?KJH�R�E�oeF�LOEJFCJ@�e�OeRIEeBC?j?DF�EC�S�NBLM�p�F�WJELRIC��2B?DF�EJ��EL�F�MGBOF�p�TL�}?�S?Q?�?N�DR\�NGBGDR�KeFLC?'�_FL

q�

.�6?B?EOe� o?S?Fe� o�?QBL~�U� �1DEB?FGBHL�� N?KLC?� e� TF�E�� �AB�CL�'� �/�E?NJD528�p� E'� qwp� DE'� .n�*.nZ'

�� 4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�g� 4N?QLKJjHB?C�OL� qkZn*Zwp�=UCHGCp� _?PoB?�p� qk[�p� � DE'� n[t� 9�� o?S?FJS� �R\H� ?NJDLCJS� e� TF�E�� �AB�CL�'� �/�E?NJD528�p� E'� qwp� DE'� .wZ*.ww'

Z�4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp�=UCHGCp� _?� PoB?�p� qk[.'

BLTJ�F�C�FE�OLF��T�NBJ@eD?FJH�B?o�E�e�:�@GWWJC����FO�CM�p�LoJTLQeoJEJ� DR�KJ� NGBGK� C�@GMIOJ@J�|LCKLB@L@Jp� � FDEeNJF� K?eOBL�CDIO?�� K?N?@�|C?�� N?R�M��p� L� N�TC��G� K?� 528p� KG� N�KNDGFK?C�@?@��0?N?R\��DRe|JF�o�SMG@�e�D?EC���XeRLFL�'�2?E�@F�C� DELF� W?E?FJ@� e� D?EC�� �AB�CL�� S� O?@LCKJB?@� ?H?B?CC?Q?F�KK�Re�6<'.

:G� @?|CL� ELO?|� N?@JCeEJ� B?R�p� \Oe� e� N?\F�� MJHDN?QLK�F� F�K�QBLRL� F�DEeC� �0GE\CL�'� <?CL� CG� E�RIOJNGBGNJDeFLRL� �H� e� N�KTG@C?@e� oeCOGB�p� LRG� S� CLN?R\QLRLp}?oJ�F?CJ�oeRJ�CLNJDLC�p�FD�R\O?�K?N?@LQLRL�LFE?BL@'�2B?CG�� TCLf@?� ELO?|� Ke|G� @LR?'� :LB?KJRLD\� F?CL� eD'�4EG|CJM\�CL�/G@O�F}JC��F�eo?Q�S�B?KJC��S�CL�WGEFGBE?@eB?M�� |JEE\� FEBLEJRL� @L@e'� PK?oeRL� TFLCC\� FWJEGRIOJ� SN?FC�DEU� F�KKLRLD\� FJTF?RIC�S� o?B?EIo�'� 2�K� NDGFK?C�@?@�bLR\�� �� �0GE\CL�� K�\RL� \O� B?TF�KCJO� 528p� BLS?C?FJSBG~GBGCE� 5dA� �5OBL�CDIOJS� dGBF?CJS� ABGDE�� EL� 41�4eDN�RICL�1N�OL�p�CL�/G@O�F}JC�p�EL�FO�CM��\O�@L�JC�DEOL6?@LCKJ�0<� �=LO�FOL�'�

_R\�MI?Q?�E?@e��/�E?NJDe�528��EJEeRICe�DE?B�COe�FT\E?T� OCJQJ� �AB�CL�p� �6B�TI� D@�H� TLR�TL�p� o?� M\� CLTFL� CLSOBL}GF�KKTGBOLRUf�WLD�EL�?oDELFJCJp�F�\OJH�|JRJ�EL�o?B?RJDI�?oJKFLLFE?BJ� EL� F�DE'� �0GE\CL�'Z�2�K�BGQ�E� TLR�TL� F?CJ�S� F�K�S�RJ� T|JEE\p�K?�O�CM\�F�KKLC��DF?�S�DNBLF�'

�\� EBJR?Q�\p� \OL� DGoG� FTLf@C?� K?N?FCUfp� @Lf� FGRJOeK?Oe@GCELRICe� FLBE�DEIp� o?� ?NJDef� CG� E�RIOJ� DORLKCeN?R�EJWCe�DJEeLM�U�e�B?OLH�qkZZ*qkZk�CL�CLSKLRm�FJDeCGCJHCL� TLH�K� eOBL�CDIOJH� GEC�WCJH� TG@R\Hp� LRG� S� o?B?EIoep�}?FGRLD\�F�?o?B?C��MJH�TG@GRI�EL��H�CLDGRGCC\'�1oJKFL�LFE?BJTLTCLRJ� oLQLE?� ?D?oJDEJH� NGBGDR�KeFLCI� T� BeO� N?RIDIOJHpC�@GMIOJH� EL� B?D�SDIOJH� ?OeNLCE�F� �� FJB��JRJ� N?FC�DEUF�KKLEJD\�o?B?EIo��TL�OBL}G�@LSoeECf�DF?Q?�CLB?Ke'�1oJKFLTLQJCeRJ�F�M�S�o?B?EIo�p��1DEB?FGBH��CL�4L@o�B}JC�p�F�o?UT�F�SDIOL@J�=<_p�qw�DGBNC\�qkZw�B?Oe�CL�.wj@e�B?M��|JEE\p�L

qq

[� <LDJRI� �eKTJO� ��1B�H��p� /JDE� K?�/�R��1FGBO?� T� KC\� q�� WGBFC\� qkkq� B'Y� PF�E� �AB�CL�p� �/�E?NJD� 528�p� E'� qwp� DE'� .wZ*.ww'n� _e|G� FL|RJFJ@� K|GBGR?@� EBGoL� FFL|LEJ� � TF�EJ� OjBL� 0<� �/G@O?�p� �7GCL�p

\O�EG|�B�TC��AB?C�OJ�F�KK�R�F�528�EL�?NJDJ�o?�F� �P�o?fFJH�K�S�528��T�qkZ[�ELqkZY� BB'� T� EGBGC�F� /G@O�F}JCJp� �PLQLRICJS� ?QR\K� eOBL�CDIOJH� TG@GRI� TL� B?OJqkZ[*ZY�p� `B?DRLFL� 4ELBeHLp� 6BLfF?Q?� NB?F�KCJOL� PLOGBT?CC\p� \O� EG|��C~?B@LEJFC�� TF�EJ�p� TL� B?OJ� qkZ[*qkZYp� �PLQLRICJS� TF�E�� TL� O�CGMI� qkZn� �N?WLE?O�qkZw�BB'p� �<�DE�� T� EGBGCe�� TL�qkZ[*qkZn�BB'p�:LKBLS?C?F?Q?�NB?F�KCJOLCLKBLS?Ce� �XGDOJK�p� �=LBL�� �4EGNLCL� �?R\�L�p� F� \OJH� @?|CL� TCLSEJ� K?DJEIKGELRIC�� DJEeLM�SC�� ?NJDJ� MI?Q?� EGBGCe'

w� 2B?� OjBL� �AB�CL�� EL� S?Q?� o?S?F�� K��� @?|CL� TCLSEJ� oLQLE?� mC~?B@LM�S� eELOJH�OCJQLH� �/�E?NJDe�528�g� E'� k�*�DE'� .[.p� �n�p� �n�p� Z[qp� Z[wp� ZY�*ZY[t� E'� q�*�DE'�q[Z*q[[t�E'�q��*�DE'�Z�t�E'�qZ�*�DE'�Y�p�wwp�qZwt�E'�qY�*�DE'�qYnt�E'�qw�*�DE'q�p� .�*.Zp� q[.p� qk.p� qkwp� .�q*.�.p� .�Zp� .q�p� .�[*.�wp� .Zq*.Z�p� .[�p� .[Yp� .Yqp.Y[p� .Yw*.nqp� .nnp� .wn*.k�t� E'� qk�*� DE'� qk[p� �qnt� E'� ..p� qqp� q�p� .q*..p� �qp� �ZpZ�*Z.p� [n*[wp� q�Zp� q.[*q.Yp� .�Zp� �.w*�.kp� ��n*��wp� �nZ*�nYp� �kwp� Z��*Z�ZpZZ�p� Z[k*ZY�p� ZY.*ZY�p� ZYnp� Zw�p� Zw.*Zw�p� [.[*[.Yp� [Z�*[Zqp� [[[*[[Yp� [Ynp[nq*[n.t� E'� .��*� DE'� q.Zp� q[kp� qY.p� qYZp� �kY*�knp� Z�nt� E'� .[�*� DE'� .[� �=LB�D?EC�� �AB�CL��p� �nZt� E'� .w�*� DE'� nwp� wnpq�np� qZkpqYY*qYnpqn�t� e� OCJT�p� ^FQGC=�DJR?p� BGK'p� �2?FDELCDIO��=?QJRJg�2B?NL@+\ECL� OCJQL� FNLF�JH� CL� N?R�� DRLFJF?\O�F� 5OBL�CDIO?�� 2?FDELCDIO?�� 8B@���*� PLH�K� Y� <?fCC?�� 1OBeQJ� �4\C�p0LOEJWCJH� <�KEJCO�F� �/G@O?�p� �XLDE�?C�p� �_LCJR�F�p� �qkZZ*qkZY�p� <LB�LFL*0?B?CE?p�qkk[p�DE'�wp�.�p�nnp�nwp�wq*w[p�k.*k[p�kw*q��p�.k�p���qp��..�t�1NGBLEJFC�TF�EJ� 0<� �/G@O?�p� \O� EG|� �� N?R�EJWC�� TF�EJ�:LKBLS?Ce� �XGDOJK�� TCLH?K\EID\� eE'TF'�=LEGB�\RLH�1CJ�OGFJWLp�F�LBH�FC?@e�~?CK������������&'����� ��()�4� � ������� �����$�� (� "�%� �������j�����$�� (� ��� ��"���p� F� o�oR�?EGM�� 5C�FGBDJEGEe0?B?CE?t�=LB�\�1DEB?@JBLp� /G@O�F}JCL� F� ?QC�'� 6J�F*:IUjV?BOp� 5OBL�CDIOJSNJDI@GCCJOp�qkk.p�.YZ�DE't��FLC�6BLDC?KG@DIOJSp��`O}?�FNLKG@?�*�mC�m�K�SKeEI�p<�SDIO?�5OBL�CJp���qp� qkk.p� K?F�L�BGMGCT�\� CL� OCJ|Oe�=LB���1DEB?@JBJt� �FLC2LDG@O?p� �bGB?�WCL� DE?B�COL� /G@O�F}JCJ�p� b?@�C� 5OBL�CJp� B�O� Z�p��� Z� �[Z.�pY� OF�EC\� qkkZ� B'

�AB�C��k�RJDE?NLKL�qkZk�B?Oep�CL�dGH?DR?FLWWJC�p�O?RJ�S?@eDN?FCJR?D\��[�B?O�F'[��0GE\CL��TLQJCeRL�.q�FGBGDC\�qkZw�B?Oeo�R\� D'� XJRJW� CL� 4L@o�B}JC�p� NBJNLKO?F?� N?BLCJF�J� DGoGD@GBEGRIC?�DF?fU�N�DE?RGU'Y

4N?QLKJ� CG� ?NJDeUEI� FD�H� K�S� F�KK�R�F� 528�CL� TQLKLCJHEGBGCLHp�LC��o?�Fp�\O��NBJS�R?D\��@�TFGDEJ�T�F?B?Q?@'�P��DN?QLK�F�AB�CL�� FJKC?p�}?� S?Q?� TLNJDOJ� T� /G@O�F}JCJp� KG� F�C� KFLB?OJ� O?@LCKeFLF� D?ECGU�528p� NB?NLRJ'� �PJ@?U� F� oeCOGB�pDE'�n�*nZ�'�1KCLWG�o?S?F��K����AB�CL��\O�O?@LCKJBL�/G@O�FDIO?�D?EC����5j[�p��k[L�����\O�O?@LCKJBL�0<j.Z��=LO�FOL��TLNJDLC��eTF�ELH� 0<� �/G@O?�p� 0<� �=LO�FOL�'n� _e|G� oLQLE?� �C~?B@LM�SoeR?� ?NeoR�O?FLC?� e� B\K�� OCJQ� �/�E?NJDe� 528�p� e� OCJT��2?FDELCDIO�� @?QJRJ�� EL� F� WJDGRICJH� DELEE\H� QLTGEC?Q?� EL|eBCLRIC?Q?�~?B@LEe���F�5OBL�C�p���F�K�\DN?B�'w

q.

k�_BeQG��@]\�N?KLCG�F�RJDE��S?Q?�DGDEBJ��BJCJ�6?FLRIWeO�T�q��FGBGDC\�qkkY�B'

K?� 8B�\KCJ�4EGoGRIDIO?�'q�� :LSDELB�?U� oeRL�=LB�\p� TL@e|G@�=\CO?FDIOL� �N?@GBRL� e� <LB�LF��p

7?@LC� �N?@GB� e� D'� <JQ?KL�p� :LELROL� �CLB?K|GCL� e� D'� 0?@L��FM�p� TL@e|G@

_LCJR�Fp� N?@GBRL� e� <LCOeFGB��p� X?QKLC� �CLB?K|GCJS� e� D'� 0?@L��FM�p� N?@GB� e

0?B?CE?�p� 8CCLj�BJCL� F|JFLRL� �@]\� �BGCL� F� NL@+\EI� NGB�?�� KJEJCJ

4EGoGRIDIOJHp� \OL� N?@GBRL� CG@?FR\@� �CLB?K|GCL� F� D'� b?RJCIp� TL@e|G@

6?FLRIWeOp� |JFG� e� 4UBBGSp� XBJE�SDIOL� 6?Re@o�\�p� 4EGNLC� �CLB?K|GCJS� e

D'� b?RJCIp� TLQJCeF� CL�dGH?DR?FLWWJC��p� <?R?KJ@JB� �CLB?K|GCJS� e� DGR�� b?RJCIp

N?@GB� F� cK@?CE?C��'� 8B�\KCL�ae@?FDIOLj4EGoGRIDIOLp� �4EGNLC� AB�C� �� S?Q?

B?KJCL� ?WJ@L� B�TCJH� RUKGS�p� @L�JC?NJDp� qZ� oGBGTC\p� qkkk� B'qq� <�KE�R\� N?H?KJEI� S?Q?� NBLK�K�2LFR?p� \OJS� N?DGRJFD\� e� D'� <J�CGF�� o�R\

�eBLFCLp� CL� 2?K�RR�p� KG� CLB?KJFD\� K�K� 0G?K?Bp� L� e� qwnn� B?M�� S?Q?� oLEIO?

�RR\'� PK?oeF�J� OFLR�~�OLM�U� FWJEGR\p� �RR\� ?KBe|JFD\� T� K?WO?U� FWJEGR\

2B?O?NL�6?MLCL�*�cRG?C?B?U�T�D'�`FWG�o�R\�7?QLEJCL'�<WJEGRUFLF�e��F�E?F�Sp

0?@L��FM�p� b?RJC�p� X?R?H?F�p� L� F?DELCCf� F� D'� 0LELBJ� �EGNGB� PLRe|LCJ�� CL

4L@o�B}JC�'�2�DR\�N?FGBCGCC\�T��ELR�SDIO?Q?�~B?CEep�N�DR\�?OeNLM���bLRJWJCJ

2?RI}GUp� eWJEGRI� �RR\� 4EGoGRIDIOJS� K?F�JS� WLD� oeF� oGT� NBLM�'� V?Q?

NGBGDR�KeFLC?� N?RIDIO?U� FRLK?Up� TL� NBLMU� CLK� B?ToeK?F?U� P5:7p� S� CLF�EI

TLNB?E?BGC?�K?�O?CMELo?Be�F�_G@oU'�5�qk..�B?M���RR\�N?FGBCeFD\�K?�NB?~GD��

FWJEGR\� �� FWJEGRUFLF� e� D'� X?R?H�F� CL�6LRe}JC�p� L� F�K� qk.w� B'� � F� D'� 0LELBJ� e

4L@o�B}JC�p� KG� e� qk�Y� B?M�� FJS�?F� CL� G@GBJEeBe� S� N?DGRJFD\� T� B?KJC?U� e

@'� 4L@o?B�'� 6?DEI� 6eo�\Op� �PG@R\O� CL� NDGFK?� �AB�C�p� 4L@o�BDIO�� <�DE�p

�� q�q*q��p� QBeKGCIp� qkkZ'

������� �"���'"�

4EGNLCj0LBLDk�4EGoGRIDIOJS�CLB?KJFD\�qw��qk���|?FEC\qkqZ�B?Oe�e�DGR��b?RJCIp�BLS?C�6LRe�Lp��FLC?j�BLCO�FDIO?�?oRLDE�p�F�oLQLE?K�EC�S�D�@+���RR��EL�cRG?C?BJ�4EGoGRIDIOJH'4EGNLC�@LF�EBI?H�oBLE�F�*�7?@LCLp�X?QKLCL�EL�<?R?KJ@JBLp��EBJ�DGDEBJ�*�=LB�Up�:LELROe�EL�8CCej�BJCe'q�

7�K� 4EGoGRIDIO?Q?� N?H?KJEI� T� D'� <?R?}Lp� O?RJ�CI?Q?4L@o�BDIO?Q?�N?F�Eep�L�EGNGB�_B?Q?oJMIO?Q?�BLS?Ce'qq

4EGNLC�N��?F�K?�N?WLEO?F?���O?RJ�}G�e�D'�X?R?H?F�p�KGFWJEGRUFLF� S?Q?� oLEIO?p� L� TLO�CWJF� ��� e� D'� 0LELBLH'� 2�DR\TLO�CWGCC\� CLB?KC?���O?RJ� e� D'� 0LELBJ�4EGNLCL� N�DRLC?� CLCLeOe�F�4L@o�BDIO�S�5WJEGRIDIO�S�4G@�CLB��p�\Oe�F�C�TLO�CWJFe�qk�[�B?M�'

q�

q.� <NB?K?F|� DF?f�� NGKLQ?Q�WC?�� NBLM�� �RR\� 4EGoGRIDIOJS� FJH?FLF� D?EC�eOBL�CDIOJH� NLEB�?E�F'� 2?FGBCeF�JDI� T� �ELR�SDIO?Q?� ~B?CEep� F�C� LOEJFC?FORUWJFD\�F?DGCJ�qkqw�B?Oe�e�oeK�FCJMEF?�P5:7�CL�6LRe}JC�'�4F�S�NLEB�?EJT@�RR\� EL� cRG?C?BL� NBJ}GNJRJ� EG|� �� DF?�@� K�E\@'� 5� KBeQ�S� N?R?FJC�� .�jH� B?O�FWRGC?@�5<1� DELF� oBLE�4EGNLCL� 7?@LC'� _e|G�@?|RJF?p�}?� F�C� EL� oBLE� X?QKLCoeRJ� ELO?|� WRGCL@J� ELf@C?�� 1BQLC�TLM��� <J}JH� 6R\D� 5OBL�CDIOJH� ��@CLT�S�1<65��'� 8CLE?R�S� XGKB�Sp� �:LM�?CLR�DEjBGF?RUM�?CGBp� @LS?B� 4EGNLC� AB�C�':GNeoR�O?FLCJS� @L�JC?NJDp� D�WGCI� qkkY� B't� 8CLE?RmS� XGKB�Sp� �=LS?B�4EGNLCAB�C�p� :GTo?BJ@L� :LM�\p��� Y� �� CLDEeNC�p� oGBGTGCI� qkkY� B'� XmRI�� KGELRICeom?QBL~mU� >RRm� 4EGoGRIDIO?Q?� @?|CL� TCLSEJ� e� DELEEm� 1ODLCJ� 0GoG�GFDIO?��2GKLQ?Qp�NB?DFmEJEGRIp�NLEBm?E�p�_TF?CJ�2mKQmB+\��6LRe��p���qZ.��q.wk�p�k�QBeKC\qkkwp� EL��qZw� �q.k[�p� .�� QBeKC\� qkkw'

q��4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� � DE'� Z�'qZ� 1DELN� A@eB?FJW� �X?QKLC� 4EGoGRIDIOJS�p� �4EGNLC�4EGoGRIDIOJSj+AB�C+�p

8RI@LCLH��b?@?Ce�5OBL�CJ��CL�B�O�qkkZp�X�oR�?EGOL�<JKLFCJMEFL��b?@�C�5OBL�CJ�pW'� nnp� 0?B?CE?p� qkkZp� DE'� nY'

q[�4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�p� DE'� q�Z'qY�:':'��4EGNLC�AB�Cj4EGoGRIDIOJS��*�bGB?S�528g�=LEGB�\RJ�K?�o�?QBL~���p

<�DCJO�11d45p� EBLFGCI� qkw�p� DE'� qq*q�'

�����"��� ��� �"��&�"��&

7?KJCL�4EGoGRIDIOJH�TLF|KJ�oeRL�F�KKLCL�DNBLF��FJTF?RGCjC\�5OBL�CJ'q.

4EGNLC�}G�eWCG@�Yj��OR\DJ�NBJ@OCeF�CL�4L@o�B}JC��K?2RLDEe�F��nj@e�OeBGC�� �@'�N?RO'�<�E?FDIO?Q?'�6?RJ�2RLDE�oeFTLo?B?CGCJS�N?RIDIO?U�FRLK?U�e�qk���B?M�p�S?Q?�WRGCJ�N?WLRJK�\EJ� CGRGQLRIC?'� �G� S� oeRJ� NGB��� OB?OJ� e� BGF?RUM�SC�SK�\RIC?DE�� 4EGNLCL'� <�C� Q?F?BJEI� NB?� MG� ELOg� �aR\HBGF?RUM�SC?��o?B?EIoJ�\�N?RUoJF�}G�F��O�RIC��B?OJ��6?RJNGBGDELF��DCeFLEJ�OeB�CI�DGBGKCI?�O�RIC?��@?R?K���TB?KJRLD\F�@GCG�Ke@OL�TLR?|JEJ�ELf@CJS�QeBE?O�DGBGK�eWC�F�@?f���O?RJ'_?�MI?Q?�QeBEOL�CLRG|LR?�CLD�F?DI@GB?��q�

:L�N?WLEOe���jH�B?O�F�4EGNLC�DELF�WRGC?@��CLMEFL�15:S� CGTLK?FQ?� DELF� BG~GBGCE?@� NB?NLQLCKJ� F� 7LS?C?F�S� Lo?2?F�E?F�S�cOTGOeEJF��M�f��?BQLC�TLM��'qZ�<�E?@e�DL@?@e�WLD��F�CDELF�WRGC?@�E?FLBJDEFL��4?O�R�p�F�\O?@e�oeF�Ke|G�LOEJFCJ@�FDGOM���B?FGBJDE�Fp�EL�DELF��E�R?FJH?FCJ@��CDEBeOE?B?@�'q[�5�R�ECUN?Bep�@LCKBeUWJ�o?SO�FDIOJ@J�DGRL@Jp�F�C�K?oBG�N�TCLF�EGBGCEL�RUKGSp�L�}G�o�RI�Gp�O?RJ�e�qk�[�B?M��DELF�NBGKDELFCJO?@eOBL�CDIOJH� FJKLFCJMEF� �� T� �HCI?Q?� BL@GC�� B?TN?FDUK|eFLFeOBL�CDIOG�KBeO?FLCG�DR?F?�F�EGBGC�'qY

5� E?@e� DL@?@e� WLD�� �qk�Z*qk�[� BB'�� 4EGNLCp� \O?@e

qZ

qn�4EGNLC�AB�Cp� 6B�TI� D@�H� TLR�TLp� DE'� qZt� 4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�pDE'� q�Z'

qw�4EGNLC�AB�Cp� PJ@?U�F� oeCOGB�p� DE'� [�'qk� PL� DF�KWGCC\@� /�R�� 1FGBO?p� F?CL� CLB?KJRLD\� n� D�WC\� qkZq� B'p� L� CG

q�� D�WC\p� \O� N?KLf� @GEBJOL� CLB?K|GCC\'.��1DELN�A@eB?FJW� �X?QKLC�4EGoGRIDIOJS�p� DE'� nn'.q� 8B�\KCL�ae@?FDIOLj4EGoGRIDIOLp� �4EGNLC� AB�C� �� S?Q?� B?KJCL� ?WJ@L

B�TCJH� RUKGS�'..� 4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�p� DE'� k.*kZ'.���B�S�aeHGFJWp� �X?�EJ�CL�TG@R��RUKJCLg�4RLFCL�K?CIOL�DRLFC?Q?�oLEIOL�p

X?BJDEGCp��� k� �.n�p� DE'� qZ'

FJN?FCJFD\�.q�BmOp�DELF�WRGC?@�15:'�PL�K�\RIC�DEI�F�TF+\TOe�TN?K�\@J�F�6LBNLEDIO�S�5OBL�C��4EGNLCL�LBG�E?FLC?�F�C?W��T�ZCL�[�FGBGDC\�EL�TLNB?E?BGC?�K?�O?CMELo?Be�F�XGBGT��6LBEeTIO�SpKG� F�C� NGBGoeF� K?� N?R?FJCJ� FGBGDC\� qk�k� B?Oe� S� N?WLEOeC�@GMIO?jN?RIDIO?�� F�SCJ'� 5� MGS� DL@� WLD� S?Q?� oBLE� X?QKLCp\O?Q?�LBG�E?FLC?�e�6BLO?F�p�OLBLFD\�e�4L@o�BDIO�S�EUB@�'�PWLD�F��4?O?RL��N?H?KJEI�EG|���S?Q?�NDGFK?C�@��AB�C�p�O?RJ�F�CCLTFLF�DGoG�2LCIO?@�AB�C?@'qn

P� NBJH?K?@� BLK\CDIO?�� FRLKJ� 4EGNLC� EL� S?Q?� oBLE<?R?KJ@JB�T�K?N?@?Q?U�4EGNLCL�6BGCEJp�eWJEGR\�T�D'�/�}LFL_?R��C\p� \OJS� DELF� �CDNGOE?B?@��O�R� BLS?Cep� NGBGS�RJ� CLNBLMU�eWJEGR�F�F�CLB?KC�S��O?R��e�D'�6eTI@JCL�F�X�BWLC}JC�pKG� F�C� NB?K?F|ef� DF?U� O?CDN�BLEJFCe� K�\RIC�DEI� F�15:� \ON�KBLS?C?FJS'qw

0eE� EG|� F�C� ?KBe|JFD\� T�=LB�fU� 2J�� �q[� FGBGDC\qk.q�B'*�n�FGBGDC\�qkY��B'�p�D�RIDIO?U�K�FWJC?U��F�CWLF��H?'��GKeOGFJW�e�K?@��6BGCEJ�F�D'�/�}LFL�_?Rm�C\�p���q��D�WC\qkZq�B?Oeqk�F�CJH�CLB?KJRLD\�K?CGWOLp�\Oe�?HBGDEJRJ�cRG?C?B?UCL� N?�LCe�@LEGB��4EGNLCLp.�� LRG� TFLRJ� ��� /�RGUp� N?� HBGDC�S@LEGB���BJC��ae@?FDIO�Sp�\Oe�FD��ORJOLRJ�/�RGU'.q�0LO����CLTJFLfEG|������oLEIO?�e�DF?�H�TLF|KJ�EGNRJH�TQLKOLH�NB?�CG�'..�P�MJ@�@]\@�TLRJ�JRLD\�F?CL�S�K?D�'.�

=LB�SOL�2J��oeRL�FJD?O?Q?�TB?DEep�QLBC?��oeK?FJ�E�RLpFB?KRJFLp�NJ�LRLD\�NBGOBLDCJ@p�K?FQJ@p�T?R?EJDEJ@�F?R?DD\@':G�Ke|G�K?FQ?�K?FGR?D\� �S�FE��LEJD\�N?KBe|C�@�|JEE\@p�o?W?R?FmO?FL�BGF?RUM�SCL��K�\RIC�DEI�CG�K?TF?R\RL�CL�C?B@LRIC�F�KC?DJCJ�e�N?KBe|CI?@e�|JEE�'�<?CL�RUoJRL�S?Q?�oGT@�BC?S�NBJFGRL�T�CJ@�CL�DF�E�KF?f�K�EGSp�cRG?C?Be��/�RU�p�TL@e|G@

q[

.Z� 8B�\KCL�ae@?FDIOLj4EGoGRIDIOLp� �4EGNLC� AB�C� �� S?Q?� B?KJCL� ?WJ@LB�TCJH� RUKGS�'

.[� 1DELN� A@eB?FJW� �X?QKLC� 4EGoGRIDIOJS�p� � DE'� nw'� 1BJQ�CLRJ� [� RJDE�F� TEUB@J� TCLH?K\EID\� e� �BJCJ� 6?FLRIWeO'�=L�JC?NJD� RJDE�F� f� F� ���� ������ &'���� ��()��� � �������������$�� (�"�%��������j�����$�� (� �����"����e�o�oR�?EGM�0?B?CE?CDIO?Q?� eC�FGBDJEGEe'

.Y�=LB�\�4LFWJC� ��=LB�WOL��p� �0JD\WL� K?B�Q�p� �/�E?NJD� 528�p� E'� .wp� DE'� qYnt2B?� 1RGODLCKBe� bLSKeOGFJWp� �PGCejX?QKLCe�p� f� O?B?EOL� TQLKOL� e� �/�E?NJDm528�p� E'� .�p� DE'� qY�'

.n�0L@�|Gp� DE'� qYn'

.w� 4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�p� DE'� n[*nwp� k�'

.k� 0L@�|Gp� DE'� �w*Z.'��� 0L@�|Gp� DE'� q�Z*q�['

1FGBO?p� \OL�|JFG� e�dJOL�?p� <?R?KJ@JBe� �4RLFOe�p� TL@e|G@2�Hp�}?�|JFG� F�2?RI}�'� _BeQ?�� KJEJCJ� �AB�C�� F|G� CG� @LFCLQ?KJ� oLWJEJp� H?W� TCLFp�}?� F?CL� F� K?B?T�p� �p� TL� DF�KWGCC\@cRG?C?BJj/�R�p� NB?DJF� CLTFLEJ� �@+\@� <?R?KJ@JB� Lo?<?R?KJ@JBLp�\O}?�MG�oeKG�K�FWJCL'�=LB�SOL�FJO?CLRL�oL|LCC\DF?Q?�W?R?F�OL'.Z

:G�TLoeFLF���F�C�NB?�CG����TQLKeFLF�NBJ�O?|C�S�CLQ?K�BLT?@� T� eRUoRGC?U� K?WO?U� /�RGUp� WJ� MG� e� ��BJND��� T_?oB?@JRIDIO?��EUB@Jp.[�e�S?Q?�DN?QLKLHp�LRG�ELO?|�m�O?RJpF�KKLRGCJS�F�K�B?KJCC?Q?�QC�TKLp�F�C�DELBLFD\�K?N?@?QEJ��@e� CGTLFJKCJH� ?oDELFJCLH� �� NB?DJF� DLC�ELBOe� �X?QKLCe�?N�OeFLEJDI� CJ@J'.Y� �=LB�WOL�� e� DF?�H� DN?QLKLH� EFGBKJEIp}?� �AB�C�� CG� oeF� �}LDRJF?� ?KBe|GCJSp� LRG� C�|C?� RUoJFKJEJCe���|eBJFD\����K?RGU�'.n�:G@Lf�|?KCJH�De@C�F�F�e�E?@ep}?� F� CI?@e� RUoJRJD\� S� DLC�ELBOL� �X?QKLCL�p� SF�DE'� �0GE\CL�p� NB?� }?� CLE\OLf� e� DF?�H� DN?QLKLH� �� DL@�AB�C�p.w� LRG� FL|WG�F�KN?F�DEJ�CL�NJELCC\p� WJ�*� �� K?� \O?�@�BJ�*�F�C�F�KK\WeFLFD\��@�RUo?F+U'�5�DF?�H�DN?QLKLH��AB�C�p\O� C�HE?� �C�JS� �T� N?FDELCM�Fp� Ke|G� FJD?O?� M�CeFLF� FORLK|�C?O� e� FJTF?RICe� o?B?EIoep� ?DN�FeFLF� �HC�� N?KFJQJp�LCeFLF� �HC�� |GBEFJ'.k� �\� N?�LCL� K?� |�C?O� ELO?|NGBGKLFLRLDI�S?@e�T�FGRJO?��RUo?F��K?�@LEGB�p�\OL�FJH?FLRLFD�H� DF?�H� K�EGS� CL� NLROJH� NLEB�?E�F'�V?Q?� TQLKOL� NB?� CG�TFeWJEI� @LS|G� @?RJEF?U'��

0J@� WLD?@� S?Q?� KBe|JC�� NBJH?KJR?DI� Ke|G� FL|O?'8BG�E?FLCLp� F?CL� NB?S�RL�~�TJWC�� EL� KeH?FC�� E?BEeBJp� �S?oEJCLRJ� F?R?DD\p� @LTLRJ� D@?R?Up� QB?TJRJ� D@GBEC?U� OLB?U

qY

�q� 2JDI@?� �FLCL� bCLEOLp� DEB�RIM\� D?EC�� �AB�CL�p� K?� @LEGB�� 4EGNLCL� F�Kk�RUE?Q?�qkZk�B'p�8RI@LCLH��b?@?Ce�5OBL�CJ��CL�qkkZ�B'p�DE'�wY'���OLFJS�ELO?|RJDE� `B?DRLFL�=?B?TLp� \OJS� EG|� DRe|JF� e� D?EC�� �AB�CL�p� EL@�|Gp� DE'� w[*wY'

�.� 4F�KWGCC\�/�R��1FGBO?'���8B�\KCL�ae@?FDIOLj4EGoGRIDIOLp��4EGNLC�AB�C���S?Q?�B?KJCL�?WJ@L�B�TCJH

RUKGS�'�Z�0L@�|G'�[�:':'��4EGNLC�AB�Cj4EGoGRIDIOJS��*�bGB?S�528g�=LEGB�\RJ�K?�o�?QBL~���p

DE'� qq*q�'�Y� �FLC�4EGoGRIDIOJSp� �P� oeBHRJF?Q?� @JCeR?Q?� DN?QLK�p� :?FJS�aR\Hp� qw*

.[� QBeKC\p� qkk�� B'� DE'� q�'��\� FGBD�\� N�KEFGBK|efEID\� F� RJDE�� �BJCJ�6?FLRIWeOF�K� q�� FGBGDC\� qkkY� B'p� \OJS� TLMJE?FLC?� BLC��G'

TL� EGp�}?� oeRL�|�CO?U� �AB�CL�'�q� 9�� K�EGS� BLT?@� T�� DELB�?UDGDEB?U� �GCI?U� KGN?BE?FLC?� e� WGBFC�� qkZn� B'� N�K� WLD� LOM���<�DRL�� e� TLH�KCe�2?RI}ep� KG� F?CL� ?N�OeFLRLD\� CJ@J�N�K� WLDeF�\TCGCC\�=LB��'�.� _?� E?Q?p�=LB�\� CG� TCLRLp�}?� DELR?D\� T�4EGNLC?@p�S�CLF�EI�F�BJRL�F�EGp�}?�S?@e�FKLR?D\�NGBGSEJ�CLPLH�K� EL�}?� F�C�|JFG� F�6LCLK�'��� _?F�KLRLD\� NB?� S?Q?� K?RU}?SC?�N�TC��G�F�K�S?Q?�D�@���F�6LCLK�p�\OL�ELO?|�K?FQJS�WLD�CGTCLRL� KGELRGS� NB?� S?Q?� N�KN�RICG�|JEE\p� LC�� NB?� ?oDELFJCJS?Q?� D@GBE�� F� K?B?T�� CL� PLH�K'�=LEJ� �AB�CL�� K?� O�CM\� DF?Q?EBeK?RUoJF?Q?� |JEE\� T� FGRJO?U� RUo?F+U� EL� N?�LC?UDELFJRLD\�K?�DF?f��CGF�DEOJ�=LB��p�B?Te@�RL����CGTLFJKCe�K?RUpDN�FWeFLRL��S'�Z

("�%&��)��"��&��� "���

P�N?WLEO?@�F�SCJ�N?@�|�7LSH?@�EL�4747�4EGNLC�oeF�Ke|GLOEJFCJS� e� N?K�\Hp� N?F+\TLCJH� T� NB?Q?R?�GCC\@� 8OEeF�KC?FRGCC\�5OBL�CDIO?��_GB|LFJ����WGBFC\�qkZq�B'�e�/IF?F�'�<TF+\TOe� T� EJ@J� N?K�\@J� LBG�E?FLC?� e� FGBGDC�� S?Q?� oBLELX?QKLCL'�[�4EGNLCp�\OJS�DELF�F�SE?@�e�D'�6eTI@JCLp�NB?K?F|eFLFDF?U� N�KN�RICe� K�\RIC�DEI� \O� ?BQLC�TLE?B� ToJBLCC\� EL@LQLTJCeFLCC\� ToB?�'� 5� oGBGTC�� qkZ.� B?Oe� S?Q?� ELO?|LBG�EeFLR?��GDELN?p�LRG�N�DR\�nj?H�@�D\M�F�EUB@J�F�_?oB?@JR�EL�2GBG@J�R�p�T�K?N?@?Q?U�N'��FLCL�4EGoGRIDIO?Q?��CG�DF?\OL�p\OJS�@LF�TCLS?@DEFL�F�C�@GMIO�S�LK@�C�DEBLM��p�S?@e�FKLR?D\FJSEJ�CL�F?RU'�Y

4EGNLC�4EGoGRIDIOJS� FJB��JF� E?K�� MmRO?FJE?� F�KKLEJD\FJTF?RIC�S� o?B?EIo�'� P� N�K�BFLCJ@� TK?B?F+\@p� F�C� T@e�GCJS

qn

�n�='7'b?BJDRLF� �=?KGDE� 7�NGMIOJS�p� �4EGoGRIDIOJSjAB�C�p� 5OBL�CDIOJS4L@?DE�SCJOp��� ZYp� qq� RJDE?NLKLp� qk[Y'

�w�4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� � DE'� �.'�k�4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�p� DE'� q�['Z�� X?QKLC� beO� ��4OLRL��p� �/�E?NJD�528�p� E'� .�p� DE'� qY.'Zq�4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� DE'� qq�'Z.�0L@�|Gp� � DE'� Y�*nw'

K?F�JS� WLD� R�OeFLEJD\p� }?oJ� CLoBLEJ� DJR� KR\� N�KN�RIC?�o?B?EIoJp� �� E�RIOJ� F� WGBFC�� qkZZ� B?Oe� TC?Fe� LOEJF�TefEID\� F15:'�n�<�K�E?Q?�WLDe�F�C�N?FC�DEU�TLLC�L|?FLCJS�F�?BQLC�TLMm�ToB?SC?Q?�N�KN�RR\�F�2GBG@J}JC�p�ToJBLCC��EL�TK?oeFLCC��ToB?���FJB\Ke�KR\�F�KK�R�F�528�EL��H�FJ�O?Re'

<�RJNC�jDGBNC��qkZZ�B'�BLT?@�T�<?R?KJ@JB?@��JQGRIDIOJ@��XeBRLO?U��� F�C� T?BQLC�TeFLF� o?�FOe'�1N�DR\p� N�DR\� KBeQ?Q?NBJH?Ke�o�RI�?FJO�Fp�F�C�FORUWJFD\�F�NB?EJLOM�U�@?o�R�TLM��eOBL�CM�F� K?� dGBF?C?�� 8B@��p� \OJH� oGT� CLRG|C?Q?� FJ�O?ReOJKLRJ�CL�~B?CE�\O�QLB@LECG�@+\D?'�w�<�E?@e�NBJoRJTC?�WLD�N?RIDIOG�?BQLC�T?FLCG�N�KN�RR\p�\O�EG|�B�TC���?F�C�DEJWC��oLCKJpN?WLRJ��JB?O?� TLOB?fCe� LOM�U� EGB?Be� NB?EJ� eOBL�CDIO?Q?CLDGRGCC\p�}?oJ�NBJDN��JEJ�S?Q?�FJDGRGCC\�K?�4747'��?oJNB?EJDELFJEJD\�MI?@e�EGB?Bep�4EGNLC�?BQLC�Tef�DL@??o?B?CC�F�KK�RJ� N?� DGRLHp� \O� EG|� NB?EJB?TF�KWe� QBeNe� KR\� R�F�KLM��F?B?|JH�LQGCE�F'�k�_?�O�CM\�DGBNC\�qkZZ�B?Oe�F�C�@LF�QBeNe�Tn[�?ToB?fCJH�EL�FJ�O?RGCJH�RUKGSpZ��WLDEJCe�\OJHp�e�FGBGDC�MI?Q?�B?Oep�\O�?OBG@e�W?Eep�NGBGKLF�K?�D?EC��OjBL��A?@J�'�PM�fU� D?ECGUp� \O� W?E?FJSp� LRG� E�RIOJ� T�� DEeNGCG@� DELB�?Q?DEB�RIM\p��AB�C��oGBG�eWLDEI�e�O�RIO?H�o?\H�S�.��FGBGDC\�NGB�JSBLT�K�DELf�BLCe�F�K�F?B?|?��QBLCLEJ'Zq

5�FGRJO?@e�o?U�T�o�RI�?FJOL@J�F�/�}LF��b?B��C�S�.Z�|?FEC\�AB�C�� oeF� FL|O?� N?BLCGCJS�~?D~?BCJ@J� OeR\@J� F� ?oJKF�BeOJp�O?RJ�?D?oJDE?�B?ToJF�BLK\CDIO?Q?�ELCOLp�?KC?Q?��T�KF?HTCJ}GCJH� e� MI?@e� o?U'� XeRL� TLQB?TLp�}?� BeOJ� EBGoL� oeKGL@NeEeFLEJ'Z.�1KCLWG�K�FWLELjN?FDELCM��CG�K?NeDEJRJ�K?�MI?Q?pL� N?F�E?FL� 5dA�2GBG@J}JCJp� �4?~�\�� �4EG~L� 4ELCIO?� TDGRL�6?B?FCJOJ��EL�@GKDGDEBL�528��X?QKLCL���/GD\p�K?CIOL?'�bLSKeOGFJWL�T�7Jo?EJWp�\OL�e�OF�EC��qkZn�B?Oe�B?T�BFLRLD\QBLCLE?Up�}?oJ�CG�N?EBLNJEJ�|JF?U�e�BeOJ�F?B?QL�p�NJRIC??N�OeFLRJD\� CJ@� S� Te@�RJ� FJR�OeFLEJ� ?KCe� BeOe� N?FC�DEUp� LKBeQe� WLDEJCC?'� 5� oJEF�� N?@?QRL� S?@e� �4EGN?FL�� �=LB�\

qw

Z��=LB�\�4LFWJCp� �=LB�WOL�p� NB?�4EG~e�4ELCIO?� �4?~�U�p� E'� .wp� DE'� YYp� w�pw[p� k[t� NB?� 1RGODLCKBe� bLSKeOGFJW� �X?QKLCe�p� DE'� w[p� q.Zt� NB?� �4EGN?Fe�pDE'� Yqp� Yn*Ywp� q�nt� 4EGNLC� �?R\�� F� NJDI@�� T� qw� OF�EC\� qkkk� B'� �KGCEJ~�OeFLF�4EGN?Fe�� \O� =LB�U� 6�EO��O?p� N?KLUWJp� }?� F?CL� TLQJCeRL� CL� N?DE�:LKBLS?C?F?Q?� BG~GBGCEL� NB?NLQLCKJ� F� :LKBLS?C�� �<GBH?FJCL�'

ZZ�4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� DE'� q[w'Z[�0L@�|Gp�DE'�w.'ZY�0L@�|Gp��DE'�kq'Zn��1DEB?FGBH�p�4N?@JCJ�W?E?F?Q?�1DEB?FGBHLg�AB?C�OL�0LOEJWCJH�F�KEJCO�F

528� �/G@O?�� �� �=LO�FOL�p� qkZZ*qkZw'�=UCHGCp� _?� PoB?�p� qk[�p� DE'� �Y*[�'Zw� 4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� � DE'� ��t� �1DEB?FGBH�p� DE'� �n*[�'Zk� 0L@�|Gp� �1DEB?FGBH�p� DE'� Z[*Zn'[��4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� � DE'� qZZt� �1DEB?FGBH�p� DE'� Zw'

6�EO��O?�p�\OL�N?H?KJRL�T�2?RELF}JCJ�EL�\OL�N�TC��G�TLQJCeRLF� PLH�KC�S� /G@O�F}JC�'Z�� 6?RJ� |� S?Q?� F�KB\K|GC?� CL/G@O�F}JCep��X?QKLCL��ELO?|�TL?N�OeFLRLD\�K?CIO?U��AB�CL�p/�RGU'ZZ� 2�DR\� o?U� FGRJOe� WLDEJCe� F�KK�Re� OjBL� �A?@J�KG@?o�R�T?FLC?'Z[

2�K�O�CGMI�RJDE?NLKL�qkZZp�NBJS�?F�J�EB?HJ�K?�TK?B?F+\p�AB�C�� K?N?@LQLf� FJ�O?RUFLEJ� F�KK�RJ�46<� F�2GBG@J}JC��:LKBLS?C��A?R?KCJS�`B��'�5�QBeKC��qkZZ�B?Oe�ELOJH�F�KK�R�FCL�MI?@e�EGBGC��CLBLH?FeFLR?D\�.�'��U�NBLMU�Q?R?FC?�FGRJ=JHLSR?�_eKL� ��bB?@GCO?��p�`B?DRLF�6?MI?R?O� ��6BJRLW���EL�C��'ZY�:L�N?WLEOe�QBeKC\p�CL�FRLDCG�oL|LCC\p�S?Q?�CLTCLWGC?O?@LCKJB?@� DNGM�LRIC?Q?� F�KK�Re� T� @GE?U� ?WJ}GCC\� EGBGCeF�K�F?B?|?��LQGCEeBJ'Zn

P� DL@?Q?� N?WLEOe� F�C� DELF� Ke|G� @?o�RICJ@p� NB?� }?Q?F?BJEI� e� DF?�H� FRLDCJH� DN?@JCLHZwp� EL� LOEJFCJ@� ?o?jB?CMG@�CLDGRGCC\'�5�N?R?FJC��oGBGTC\�OjB��6?CJO��K?BeWJFS?@e� TR�OF�KeFLEJ� N?RIDIOG� � D'� X?B�FCJMUp� \OG� DELR?� FJjNLK?F?U� oLT?U� NB?EJ� eOBL�CDIO?Q?� CLDGRGCC\p� }?� F�C� �FJO?CLF�.q�OF�EC\�qkZ[�B'�T�K?N?@?Q?U�F�KK�R�F��bB?@GCOL�EL� �PBeoL�'Zk

k*q.�EBLFC\�CL�F�KNBLF��BG~GBGCE�F�EL�O?@LCKJB�F�4X:LKBLS?Ce� �A?R?KCJS� `B�� S?Q?� TB?oRGC?� 0BGE�@� TLDEeNjCJO?@�7G~'�4X�CLKBLS?Ce'�7G~GBGCE?@�oeF�<LDJRI��LN+\O�2?ELN�'[�

5� o?U� N�K� D'� _?oB?U�aR\HGEDIO?U� T� N?RIDIOJ@JQBLo�|CJMIOJ@J� oLCKL@J� e� WGBFC�� qkZ[� B?Oe� �AB�C�� TC?Fe

qk

[q�4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� DE'� q.Z'[.� 2B?� O?C~R�OEJ� T� OjB?@� 0<� �/G@O?�� f� CLE\OJ� �AB�CL�� e� S?Q?� DN?QLKLH'

4EGNLC�AB�Cp�PJ@?U�F�oeCOGB�p� DE'� q��t� TQLKef�NB?�MG� ELO?|� �=LB�WOL�� e� DF?�H

DN?@JCLH'� �/�E?NJD� 528�p� E'� .wp� DE'� q�n'[��4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� DE'� q[w'[Z� 4EGNLC� �?R\�p� �528� F� XGDOJK��p� /G@O�F}JCLp� D'� ...'� �7�O�p� W'��[[� �/�E?NJD�528�p� E'� q�p� DE'� Z�'[Y� ='7'b?BJDRLF� �=?KGDE� 7�NGMIOJS�p� �4EGNLC� 4EGoGRIDIOJS�*� AB�C�p

5OBL�CDIOJS�4L@?DE�SCJOp� W'� Zn� ��[n�p� qw� RJDE?NLKL� qk[Y'

oeF�BLCGCJSp�EJ@�BLT?@�F�RJMG'�`O�OL|Gp� �MG�F|G�e�@GCG�[oRJTCL�'[q

PLNLRICL� CLEeBL� �AB�CL�p� S?Q?� CLDEeNLRICL� ELOEJOLDEF?BUFLRJ� WLDE?� O?C~R�OEC�� DJEeLM��� e� N�KN�RIC?@eOGB�FCJMEF��e�2GBG@J}JC��S�CLF�EI�N�TC��G�CL�/G@O�F}JC�pKG� OjB� 0<� �7GC�� DELBLFD\� ?o@G|JEJ� K�\RIC�DEI� MI?Q?� CGjN?DJKU}?Q?� F?\OL'[.� 5� WGBFC�� TL� B�TC�� CGN?B?Te@�CC\� ELoeMm@E?� CGDeo?BKJCLM�U� � �AB�CL�� N?DELFRGC?� NGBGK� ?BjQLC�TLM�SCJS� DeKp� LRG� TF�RICGC?� F�K� FD�H� ?oFJCeFLWGCI� SOLBJ'

5� @�D\M�� DGBNC�� NGBGFGKGC?� �AB�CL�� CL� /G@O�F}JCe� F:LKBLS?C��XGDOJK��T�TLFKLCC\@�T@�MCJEJ�F�KK�RJ�528�CL�E?@eEGBGC�'� 5� NGBG�TK�� CL� /G@O�F}JCe� F�C� TC?Fe� oeF� BLCGCJS� FBeOe'[�

:LKBLS?C?FJS� NB?F�KCJO� �P?BJW�� NBJTCLWJF� S?Q?F�SDIO?FJ@� BG~GBGCE?@� e� �j@e� BLS?C�p� F� 4\C�WWJC�p� TTLFKLCC\@� T?BQLC�TeFLEJ� F�KK�R� T� @�DMGFJH� RUKGS'� �G� F�CeDN��C?�FJO?CLF���F�DO?B?@e�WLD��@LF�F�KK�R�F�WJDR����Y�F?\O�FpO�CCe� W?Ee� T� Z[� O?CGSp� B�S� N?RI?F?�� |LCKLB@GB��� EL� ?KCeQLB@LEOe'[Z���4?EC\p�\OL�oeRL�WLDEJC?U�OeBGC\��7GCL�p��@LRLOBJNE?C�@� 5j[p� L� N?E�@� k[L'[[� 2�TC?U� ?D�CCU� qkZ[� B?OeQGC'� _@JEB?� bBJMLSj2GBGoJSC�Dp� \OJS� NGBGF�F� �CDNGOM�UF�SDIO?FJH� WLDEJC� MI?Q?� EGBGCep� N?TJEJFC?� F�KTCLWJF� M�?D\QJ� �AB�CL�'[Y

5� qkZ[*Zn� BB'� F�KK�RJ� 528� �CEGCDJFC?� EF?B\EI� ?N�BFJDGRGCW�S� OL@NLC��'� 5� M�S� LOM��� D?EC\� �AB�CL��*� ?KCL� �TCLSo�RI��LOEJFCJH'�:LFGDCm�qkZn�B?Oe��T�TLD�KOJ�o�R\�D'�0�DCLS?Q?�F�KK�R�R�OF�Kef�F�MGj@�C�DEBL�?o?B?CJ�2?RI}��QGC'�6LB?R\

.�

[n�1NJDJ�KG\OJH�o?�F�D?EC��OjBL� �AB�CL��@?|CL�TCLSEJ�F�|eBCLR�� �_?�PoB?��TL�FGBGDGCIp�RJDE?NLK�qk[.�B'�EL�oGBGTGCI�qk[��B'p�L�WJDR?�o?�Fp�TQLKLCG��AB�C?@�pe��PJ@?U�F�oeCOGB��p�DE'�wnp�q�[t�=LB��D?EC���AB�CL��N?KLCJS�F��/�E?NJD��528�pE'� .[p� DE'� .[p� �nZ'� b?R?FC���� o?�� M�f�� o?S?F?�� ?KJCJM�g� q�� D�WC\� qkZY� B'� TCJ}GC?TLR�TCJWCe� DELCM�U� PLRe||\t� ..� D�WC\� o�S� T� <2� F� D'� PLFLKOL�=?B?H�FDIOLtqY� RUE?Q?� o�S� T� <2� N?@�|� DGRL@J�=?B?H�F� ��2?BL|� T� FGRJOJ@J� FEBLEL@J� KR\N?R\O�Ft�.[�RUE?Q?�TCJ}GCC\�TLR�TCJWC?��DELCM���F�=?OB?@et�.Y�RUE?Q?�o�S�T�<2F� DGR�� <?RJM\t� q�� oGBGTC\� o�S� T� <2� F� DGR��2?R?CCL� T� FL|OJ@J� FEBLEL@J� KR\N?R\O�F� �� E�RIOJ� EBI?@L� BLCGCJ@J� T� o?Oe� 528t� q.� oGBGTC\� TCJ}GC?� KGO�RIOL@?DE�Fp� TLR�TCJWC�� BGSOJ� EL� EGRG~?C�WCJS� TF+\T?O� N?@�|�PLQ�B+\@� EL�/eNO?F?@t.�� oGBGTC\� FJO?CLC?� eDN��CJS� CLDO?O� CL� 6?@LCKe� 0LOEJWC?Q?� <�KEJCOL� <2F� `DGROe� N�K� 4\C?O?@� T� FL|OJ@J� FEBLEL@J� KR\� N?R\O�Ft� MI?Q?� DL@?Q?� KC\p.�� oGBGTC\� CLNLK� CL� <2� e� <JDR?Oep� TC?Fe� T� FL|OJ@J� FEBLEL@J� EL� F�KDEeN?@F?B?QLt�.��oGBGTC\�CLNLK�CL�<2�F�DGR��7LK?�JM��T�FL|OJ@J�FEBLEL@J�KR\�N?R\O�FEL� F�KDEeN?@� K?�/eNO?FLt� .Z� oGBGTC\� CLNLK� CL� @�DEGWO?� XeO�FDIO?� �� TCJ}GCC\LK@�C�DEBLEJFCJH�oeKJCO�Fp�WLDEJCJ�<2�F�KDEeNLUEI�K?�4\C?OLt�.Y�oGBGTC\�F�KK�RJ�AB�CL�����=JB?CL���NBJS@LUEI�o�S�T�oLELRIS?C?@�<2�F�DGRLH�<JD?WLCJp��LFCGp6?|e�CG���=?OBGp�F�\O?@e�N?RIDIOL�DE?B?CL�@Lf�Z��FoJEJHp��.�N?BLCGCJH�EL��nN?R?CGCJHt� ��� oGBGTC\� D?EC�� �AB�CL�p� �=JB?CL�p� �X?BL�� �� �4ELHL�� FGKeEI� o�SNB?EJ�.�N?RIDIOJH�KJF�T�S�F�DGRLH�4GBGKCG�<GRJOG���/eO?FG'�<�MI?@e�CLSo�RI�?@eo?U� CL�/G@O�F}JC�p� F� \O?@e� F|JE?� EG|� �� LF�LM�Up� �� \OJS� EBJFLF� M�RJS� KGCIpF?B?Q�@LF�w��FoJEJHp�E?K��\O�528�n�FoJEJH�EL�q.�N?BLCGCJHt�F�EBLFC���AB�C��@LFKGO�RIOL�o?�F�T�<2�F�2BJoJ��FDIO?@e�R�D��EL�F�DGRLH�b�WFJMmp�2?R?CCL�EL�6L@�CCGt.Z�RJNC\��AB�C��FJO?CLF�Ke|G�eDN��Ce�TLD�KOe�CL�WLDEJCJ�w�_�F�T���<2�o�R\�DGRLXGBGT?FGMIt� .w� DGBNC\� CLNLF� CL� <?RO?FJUt� Z� FGBGDC\�@LF� o�S� e� DGR�� 7?NGCIOLtq��|?FEC\� TB?oJF�CLNLK�CL� DGR?�2GRC\p� L� .��|?FEC\�BLT?@� T�� �4ELH?@�� TCJ}JFN?RIDIO�� QLBC�T?CJ� F� DGRLH�2BeDfO� ��:GoG}LCJ� e�4\C�MIO?@e� N?F�E�t� .� QBeKC\TCJ}GC?�w�TLR�TCJWCJH�@?DE�Fp�TLR�TCe�K?B?Qe�EL�EGRG~?C�WC��R�C���N?@�|�PLQ�B+\@EL�6?@LCWGUt� CL� WLD� TJ@J� qkZY*Zn� BB'� �AB�C�� ?NGBeFLF� W?E?FJ@J� F�KK�RL@J� �@LF� DeEJWOJ� e� DGRLH�<?R\�=�H?FLp� <?R\�2GEB?FLp�:?F?D�ROJp� 7?TE?OJp�6L@+\COJpPLEFLBCJM\p��GBCJM\p�`F�BCJO� EL�=?B?H�F'� qw� oGBGTC\� qkZn� B'� F�KK�RJ� �AB�CL�� ��4ELHL��@LRJ� o�S� T� KF?@L� oLELRIS?CL@J�<2p�}?� EBJFLF� M�RJS� KGCIp� N?oRJTe� D�RPLQ?WGF+\p�A?MGCI�EL�_TUBKT�F�F�BLS?C��/�DIOL'�PC?Fe�|�.w�oGBGTC\�e�TLD�KM��CLEBLD�� N?@�|� XLRJQ?B?K?@� �� 0�DC?U� FoJE?� F�MGj@�C�DEBL� 1o?B?CJ� 2?RI}�QGC'�6LB?R\�4FfBWGFDIO?Q?� EL� KGO�RIOL��ELo?FJO�Fp�}?� �HLRJ� T� CJ@'

[w� ='7'b?BJDRLF� �=?KGDE� 7�NGMIOJS�p� �4EGNLC� 4EGoGRIDIOJS�*� AB�C�p5OBL�CDIOJS�4L@?DE�SCJOp� W'� Zn� ��[n�p� qw� RJDE?NLKLp� qk[Yt�4EGNLC�AB�Cp� PJ@?UF� oeCOGB�p� DE'� q�t� �=LB�WOL�p� �/�E?NJD� 528�p� E'� .wp� DE'� qYY*qYn'

4FfBWGFDIO?Q?'� 2B?� �AB�CL�� H?K\EI� RGQGCKJp� L� NB?� S?Q?RG@O�FDIOe�D?ECU�DORLKLUEID\�N�DC�'[n

2�DR\� FJDGRGCC\� eOBL�CDIO?Q?� CLDGRGCC\� .k� WGBFC\qkZn�B'�omR\�D'�4\COJ��AB�C��T��j@L�D?EC\@J�oBLFeBCJ@�o?f@NGBGH?KJEI�F�_B?Q?oJWWJCep�KG�S?Q?�Ke|G�BLK�DC?�NBJF�ELRJEL@EG�C�� N�KN�RICJOJ'[w

5DN��CJS� NGBGH�K� O?BK?Ce� T� o?f@� Ke|G� DEeBoeFLF@?|C?FRLKM�F� e�6BG@R�'�:LWLRICJO� <CeEB��C�H� <�SDIO�=�Xp

.q

[k� �:LWLRICJOe� <CeEBGCCJH� <?SDO�=bX�4?UTL� 447� bGCGBLR� /GSEGCLCEeE?FLBJ}e� XeB@LO�p� 5OLTLCJ\p� BLDN?B\|GCJ\� N?� ?NGBLEJFC?jDRe|GoC?@eJDN?RIT?FLCJU� WLDEGS� F?SDO� ?OBeQLp� K?CGDGCJ\� ?� NB?FGKGCC�H� o?GF�H?NGBLMJ\H� J� F�N?RCGCJU� eOLTLCJS� J� BLDN?B\|GCJS'� 4NBLFL� kp� E'� .p� ~'� Zwwp?NJD�q�Dp�LBO'�q*��'�����������&'����� ��()��� � �������������$�� (�"�%��������j�����$�� (� �����"���p���������(��u��������'

Y�� 0L@�|Gp� LBO'� q*.t�2B?E?O?RJ� K?NJE�Fp� LBO'� .k*�q'Yq�0L@�|Gp�LBO'�q'Y.� 0L@�|Gp�4NBLFOLp� LBO'� �.'Y�� 0L@�|Gp�4NBLFOLp� LBO'� �['YZ�2?DELC?FL� 5b<7� T� .[� DGBNC\� qkZn� B'p� � �/�E?NJD� 528�p� E'� kp� DE'� �n�*�nqt

4EGNLC�AB�Cp� PJ@?U� F� oeCOGB�p� DE'q�t� �FLC� 6BJFeMIOJS� ��8BOLK�S��� OL|Gp�}?�AB�C?F��� E?K�� NBJDF?fC?� DEeNmCI� @LS?BLp� LRG� MG� CGF�BCL� �C~?B@LM�\'� �FLC6BJFeMIOJSp� �4EGoGRIDIOJSjAB�C�p�aR\H� 2GBG@?QJp��� Zp� .k� D�WC\p� qkk['� 5�/�E?NJD��528�p�E'�qZp�DE'�Y�p�F�O?B?EO�S�o�?QBL~����AB�CL��ELO?|�DOLTLC?p�}?�F�C@LF�DEeNmCI�@LS?BL'�:L�|LRIp�K?Oe@GCELRICJH�KLCJH�NB?�MG�CG@Lfp���}?�o�RI�Gp�AB�C�� CLNGFC?� TQLKLF� oJ� NB?� MG� e� DF?�H� DN?@JCLH'

QGC'�RGSE'�XeB@LO�FJDRLF�e�_B?Q?oJWWJCe�:LWLRICJOL�1NGBLEJFC?Q?<�KK�Re�<CeEB��C�H�<�SDIO�=�X�5OBL�CDIO?Q?�1OBeQe�N?RO'�/Uo�E?FLKR\�DNGM�LRIC?Q?�B?TDR�KeFLCC\�M�f��DNBLFJ[k�EL�K?NJEe�KF?H�F?\O�Fp\O��N?NLRJ�F�BeOJ�=�Xp�L�DL@G�2GEBL�='�0H?BJOL���<?B?oM\���EL8CKB�\�='�4GCWJ�JCL� ��6RJ@L��p� ?o?H� �T� D?EC�� �X�BL�'�2�K� WLDK?NJEe�F?CJ�FJ\FJRJp�}?�F�KK�Rp�\OJS�NGBGS�?F�O?BK?Cp�CLBLH?Fefq.�� ?D�o� �T� EBI?@L� O?@LCKJBL@J� ��X�B�p� �AB�C�� �� �4ELH��'Y�� `ODNGM�LRICG�TLFKLCC\p�CL�CLOLT�QGC'�@LS?BL�7?D�SDIO?Q?p�:LWLRICJOL=�X�CL�_B?Q?oJMIOe�?oRLDEIp�N?RO'�/Uo�E?F�@LF�K?F�KLEJD\p�WJDGBGK�TLEBJ@LCJH�CG@Lf�eWLDCJO�F�FoJFDEFL�N?RIDIO?Q?�QGC'�N?RO'6'�4FfBWGFDIO?Q?'Yq��?SC?�N�DR\�K?NJEe� DEB�RIM\� D?EC�� �AB�CL�=JHLSRL�8'�=?DOLR\���_eCL\��p�\O?Q?�TR?FRGC?�CL�TLD�KM��k�RJNC\qkZn�B'p�/Uo�E?F�K?F�KLFD\p�}?�M�RL�D?EC\�oBLRL�eWLDEI�e�TLD�KM��CL4FfBWGFDIO?Q?'Y.�_GCI�N�TC��G�KFL�DEB�RIM�p�_@JEB?�6?DE\MIOJS��<�DO��� EL��GK�B� <'� 6RJD� ��4RLoJS��p� DL@�� N�KKLRJD\� S� oeRJK?NJEeFLC�� e� 0eBM�'Y��1KCLWG� M�� �C~?B@LM��� CG� NGBG�O?KJRJ�AB�C?F���EL�C?F?NBJoeRJ@�N?FDELCM\@p�H?W��T�KG\OJ@J�FEBLEL@Jp}LDRJF?�F�KF+\TLEJD\�F�K�F�KK�R�F�=�Xp�\O��OJCeE?�NB?EJ�CJH'

:GK?FQ?�N�DR\�MI?Q?p�q[�DGBNC\��AB�C��NGBGKLF�O?@LCKeD?EC�� �4ELH?F��� F� R�D�� N�K� D'� 4ELBL�4�RI� �� NGBGoBLF� [email protected]�0<��=LO�FOL�'�2BJTCLWGCC\�?KGB|LF�?D?oJDE?�F�K�@LS?BL=JO?RJ�0FGBK?HR�oL��bB?@L�p�OjBL�<1��b?FGBR\�'

5�FGBGDC��CL�F�KNBLF��1OBe|C?Q?�NB?F?Ke�_B?Q?oJWWJCJ�AB�CL��F�KTCLWGC?�P?R?EJ@�ABGDE?@�X?S?F?��PLDReQJ���OR\DJ'YZ

..

Y[�4F\EO?FJS�:LOLT�b?R?FC?Q?�6?@LCKJBL�528�T�qZ�|?FEC\p�qkZn�B'p��/�E?NJD528�p� E'� kp� DE'� �n�'

YY�V?Q?�TF�EJ�\O�O?@LCKJBL�0<j.Z� �=LO�FOL��N?KLC��e� �/�E?NJD��528�p� E'� qwpDE'� q[q*.k�'

Yn�0L@�|Gp�DE'�q.p�.�'Yw� 0L@�|Gp� DE'� .[Y*.ww'

V?Q?� ELO?|� FJB�TCGC?� e� DF\EO?F?@e� CLOLT�� QGCGBLRL0LBLDL�deNBJCOJ'Y[

5� qkZw*Zk� BB'� F�C� \O� OjB� 0<� KLR�� OGBef� o?B?EIo?U� F_B?Q?oJWWJC�'�8RG�F|G�e�qkZw�B'�S?@e�K?F?KJEID\�B?TF+\TeFLEJK�UW��D?EC�p�.Z�RJNC\�D?ECU�k�p�L�q��FGBGDC\�RG@O�FDIOe�D?ECUk[Lp� T� \O?U�F�C�NBJoeF�F�5OBL�Ce'��GS�~LOEp� � \O� EG|�FL|O�FEBLEJ�T�S?Q?�?E?WGCC\���.q�FGBGDC\�qkZw�TLQJCeRL��0GE\CL��ELmC�m� S?Q?� DN�FB?o�ECJOJ�� @eDJRJ� oeEJ� KR\� CI?Q?� E\|OJ@eKLB?@'YY� 5� FGBGDC�� qkZk� B'� :LOLT?@� W'� .� QGC'� deNBJCOJB?T~?B@?FLC?� FD�� �DCeUW�� F�KK�RJ� 528'� P� WLDEJC?UB?T~?B@?FLC?��D?EC���XLDGSC��OjB��AB�C��FJBe�JF�BGSK?@�CLPLH�K'Yn

<�K� q� |?FEC\� qkZk� B'p� KLEJ� S?Q?� ?DELCCI?Q?� TF�Ee� \OOjBL�0<�K?�OjBL�<1��b?FGBR\�p�F�DE?O�NB?��AB�CL��@LS|G�CG@Lf'8�S?Q?�BGO?@GCKLM���CL�F�KTCLWGCC\�M�R?��QBeNJ�N�KDELB�JC�ELDELB�JCp�oLQLE?�T�\OJH�F|G�CG�oeRJ�NBJ�|JEE�p�EBGoL�B?TQR\KLEJ\O�?DELCCf�oL|LCC\�F�KKLEJ�N?�LCe�EJ@p�\O��FJDE?\RJ�CL�DF?�HN?DELH�K?�?DELCOe'Yw�=LS|G�B�FC?�@�D\MI�N�TC��Gp�KLRGO?�F�K5OBL�CJp� \Oe� F�C� ELO� oGT@G|C?� RUoJFp� S?Q?� o?S?FJSpBGF?RUM�SCJS��R\H�K?D\Q�O�CM\'

*�������&��� �������� #�"��#

�AB�C��eF�S�?F�F� �DE?B�U�\O�?KJC�T�CLSo�RI��LOEJFCJHO?@LCKJB�F�528'�<�C�C�O?RJ�CG�TLDJK|eFLFD\�CL�?KC?@e�@�DM�pL�K���S?Q?�F�KK�R�F�oeRJ�@LS|G�TLF|KJ�TLW�NCJ@Jp�CLDEeNLRICJj@J'�2B?�MU�ELOEJOe�F�C�DL@�FJDR?FRUf�M�OLF��Ke@OJ�F�DF?�HDN?QLKLH��PJ@?U�F�oeCOGB��'�<�CJH�ELO?|�B?TOLTef�NB?�TLH?KJF�?BQLC�TLM���DF?f��D?EC��F�Ke|G�DORLKCJH�?oDELFJCLH'

�<�K�?DGC��qkZ[�B'�K?�EBLFC\�Zn�B'�@?��KF��D?EC��TFGRJ�}?DIq���o?�Fp�LOM�S�EL�TLD�K?O'�<�E?@e�|�WLD��T�KF?H�D?EGCI�FNLR?�ZqF?\O�*�F�E?@e�WJDR��.�W?E?FJH���Y�N�KDELB�JC�*���N?@GBR?pZjH�BLCGCJH�N?NLR?�F�N?R?C'��C���D?EC��@LUEI�N?R?FJCe�@GC�G

.�

Yk�4EGNLC�AB�Cp� �PJ@?U�F�oeCOGB�p� DE'� q�['n��0L@�|Gp� DE'� q�['nq�0L@�|Gp� DE'� q�q'n.�0L@�|Gp� DE'� q�.'

?NGBLEJFCJH�K�S���@LR?�}?�@GC���FEBLEJ�F�K�CLD'�PLEG�F�EBLFC���WGBFC��qkZn�B'p�N�K�WLD�oGTNGBGBJFCJH�o?�Fp�FNLR?�@LS|G�ELOGDL@G�WJDR?�F?\O�F�'Yk

��AB�C��ELO?|�N�KOBGDRUFLFp�}?�O?|CL�S?Q?�LOM�\�oeRLK?ORLKC?� ?oKe@LCL� S� DOBeNeR\EC?� ?NBLMI?FLCLp� EL�}?� OB�@o?S?F?Q?�ELO?|�@LRL�N?R�EJWCG���NB?NLQLCKJFCG�TCLWGCC\'��:L|LRI�p� \O� OL|G� �AB�C�p� �oGT� |GBEF� �� OB?FJ�*� F?UFLEJCG@?|RJF?'� 0L� \� DELBLFD\p�}?o� F?B?Q�@LF� o�RI��� FEBLEJp� o?KR\�CI?Q?�CLSo�RI��NGBGO?CRJFJS�LB�e@GCE�*�MG�DJRL'�<?B?Q@LF� .�� BLT�F� o�RI�G� FoJEJHp� BLCGCJH� �� N?R?CGCJHp� \O� @J'2�KDe@eFLF�J�CL���o?����CL���FEBLEJp�FJH?KJEIp�}?�CL�O?|CeLOM�U�NBJNLKLf�?KJC�eoJEJS'�<|G�MG�DF�KWJEIp�}?�CL���FEBLEJoeRJ�B?T@�BC?�CGFGRJO��'n�

:L� S?Q?� Ke@Oep� �CLSFL|RJF��J@� WJCCJO?@p�}?� DNBJ\fFJQBL�?F�p�MG�NGBGoBLCC\��C�M�\EJFJ�e�DF?��BeOJ'�:LSeDN��C��GTLTKLRGQ�KI�NGBGOBGDRUFLEJ�NR\CJ�F?B?QL���OJKLEJ�DF?f�F�SDIO?F�CLDEeN'�6?RJ�F?\O�CLFWJEID\�BLT�E�OLEJ�T�N?R\�o?U�*�E\|O?N�KCGDEJ�S?Q?�@?BLRI'�0BGoL�FN?�EJ�F�CI?Q?�NGBGO?CLCC\p�}?CLDEeN�*�MG�CLSOBL}JS�TLD�o�?o?B?CJ�'nq

�2B?�FJDR�K�o?U�B��Lf�DELC?FJ}Gp�EGBGCp�HE?�KLDEI�NGB�JSF?Q?CIp���E?�M�RICJS�F?Q?CIp�}?o�F�K�CI?Q?�F�B\KLH�F?B?QL�TLBLToeRJ�FoJE��S�BLCGC�'�4L@JS�o�S�TLRG|JEI�FGRJO?U�@�B?U�F�K�o?fF?�FLBE?DEJ�N�KDELB�JC'�_e|G�oLQLE?�F�o?U�N?@LQLRJ�?ORJOJ��4RLFL�pDN�FJ� �� ONJCJ� T� F?B?QL'�:L�N?WLEOe�o?U�F|JFLEJ�OBL}�� o?fF�?KJCJM�p� DRLo���B?�� WJ�W?EJ�F|JFLEJ�KR\�B?oRGCC\�F� �@��Oe�pO?RJ�DRLo���o?fF��WLDEJCJ�CLB?�CG�F�KDEeNLUEIp�L�DJRIC��o?fF�?KJCJM��T�OBJR�B?ToJFLUEI�F?B?QL'�_?oB��o?fF��?KJCJM��CLKLUEIDJRep�EG@N?���FNGBE�DEI�M�R�S�o?fF�S�QBeN�p�F�CLDEeN��WJ�NB?BJF��'

�<�CLD�O?@LCKJB� TLF|KJ�oeF� T� F?\OL@J�F�NGB��S�R�C��'<�C�N?FJCGC�oeEJ�TFJWLSC?�O?R?�CLSDRLo�?��W?EJ'�5�FJNLKOepO?RJ� o�S� f� DORLKCJSp� QBeN?FJSp� F� R�D�p� WJ� F� DGR�p� O?@LCKJBFJoJBLf�CLSK?Q�KC��G�@�DMGp�TF�KOJ�@LF�oJ�CLSOBL}JS�TF�\T?OT� ?NGBeUWJ@J� F�KK�RL@J� EL� F|G� �T� DReHe� WJ� T?Be� @�Q� oJ?B�fCEeFLEJD\�NB?�H�K�o?U�'n.

.Z

n��0L@�|Gp� DE'� q�.'nZ�0L@�|Gp� DE'� q�.'n[�0L@�|Gp� DE'� q�Z'nY�0L@�|Gp� DE'� q�.'nn�0L@�|Gp� DE'� q��'

�6?@LCKJB� *� MG� KJBJ�GCE'� X?fF�� ?KJCJM�� *� MG�CDEBe@GCEJ'� <�C� KJBJ�ef� O?|CJ@� �CDEBe@GCE?@p� o?fF?U?KJCJMGUg� O?RJ� F?CL� @Lf� FKLBJEJp� TL@?FOCeEJ� WJ� TC?FeTLQBLEJp� Lo?� RJ�G� LO?@NLCUFLEJp� O?EBJS� T� @eTJOLCE�F� @LfF�KKJHCeEJ'�:G�TLoeFLEJ�NB?�O?B?R�F�CL�N?R��o?U�*�OeRG@GEJ��@�C?@GEJ'�<@�R?�N?DELFRGCJS�OeRG@GE�@?|G�DEBJ@LEJ�CLFLReN�H?EJ�~R\CQ?FJ@���NGBGHBGDCJ@�F?QCG@'�_?oBG�TL@LDO?FLCJSpNBJOBJEJS� O?R?KL@J� S� OL@�CC\@� OeRG@GE�*� C�O?RJ� CGK?TF?RJEI� N�H?EJCM\@� K?DEeNJEJDI� K?� DGoG'� bBeNLp� }?CLDEeNLEJ@G� CL� CI?Q?p� oeKG� NGBGoJEL'��?o� TCJ}JEJ� \OJSDIOeRG@GEp�NB?EJFCJO�@eDJEI�oRJ|WG�N�KE\QCeEJ�DF?��OeRG@GEJEL� @�C?@GEJ'��G� O?�Eef� FGRJO��|GBEFJp� �� o�S� E?K�� NBJS@LfN?F�RICJS�HLBLOEGB�'n�

�2�K� WLD� o?U� O?@LCKJB� CG� N?FJCGC� N?� D?o�� N?OLTeFLEJEBJF?QJ'�<�C�@eDJEI�TLEBJ@LEJ�H?R?KCe�OB?F�EL�CG�QLB\WJEJD\��N?DE�SC?�@LCGFBeFLEJ'�<BLH?FeFLEJ��FJKO?���F�BC?�@�CRJFeDJEeLM�U�CL�N?R��o?U'�=eDJEI�oeEJ�B��eWJSp�FJCLH�KRJFJS� �SEJ� CL� BJTJO?FC�� OB?OJp� eCJOLUWJ� FD�R\OJH� �LoRI?C�F'6?@LCKJBp� F� \O?Q?� CG� F�BJEI� F�SDIO?p� CG� O?@LCKJB� KR\� E?Q?F�SDIOL�'nZ

:L�F�K@�Ce�F�K�mC�JH�D?EGCCJHp��AB�C��T�B�TCJH�ELOEJWCJH@?EJF�F�F?R�F�?NGBeFLEJ�@GC�J@J�N�KB?TK�RL@J'�0LOL�ELOEJOLFJB?oR\RL�N?WeEE\�DL@?DE�SC?DE��EL�DL@?NGFC?DE��W?E?FJH'�0LO?|RGQ�G� oeR?� @GC�J@� F�KK�RL@� NB?HLBWeFLEJD\'� �8RG� \B?TKB�oCUFLF� D?ECU� ELO?|� E?@ep�}?� N�K� WLD� N?Q?C�� F?B?QL@LRJ@J�QBeNL@J�RGQ�G�@LCGFBeFLEJp�O?CDN�BeFLEJD\�EL�F�BLT�?E?WGCC\�NB?oJFLEJD\'''�L�ELO?|�KR\�FTLf@C?Q?�F�KE\|eFLCC\�'n[

�5� CLD� CL� /G@O�F}JC�� oeR?� EBJ� ELOEJOJg� BGSKeUW?jCLDEeNLRICL�*�@?\p�?o?B?CCL�*�N?B'�X?BL���?o?B?CC?jFJNLK?FL*� N?B'� _�KJOL� �� N?B'� XB?KJWL'nY� �<D�� EBJ� ELOEJOJp� F|JFLC�D?EGCCJ@Jp�oeRJ�N?EB�oC�p�F?CJ�BLT?@�?KCL�?KCe�K?N?FCUFLRJ�'nn

�:L� /G@O�F}JC�� F?B?Q� CG� @�Q� DO?B?� @LCGFBeFLEJpNGBGOJKLEJ� DJRJp� FJO?BJDELEJ� FN?FC�� DGBGKCJOJ�@GHLC�TLM��'

.[

nw�0L@�|Gp� DE'� q��'nk� 0L@�|Gp� DE'� q��*q�Z'

<L|O?�oeR?�S?@e�N�KF?TJEJ�QLB@LEJp�@�C?@GEJ�EL�FNB?FLKJEJF�K�U�RGEeCDEF?'�<�C�@eD�F� �EJ�TL�CL@J�T�OB�D?@p�LFE?@LE?@��OeRG@GE?@'� 6?RJ� @J� T� K?Q�KCJH� N?TJM�S� DJNCeRJ� F?QCG@� N?S?Q?�W?R��*�F�C�@eD�F�B?TWRGCeFLEJD\�F�o?fFJS�RLK'�PL�E?S�WLD@J� NGBGC?DJRJD\� CL� �C�G�@�DMG� �� DR�K� TL� D?o?U� TL@�CeFLRJN�H?EJCDIOJ@J�@�CL@J'�:G� BLT� @J� TL� C�W� NGBGS�RJ� DE�RIOJp}?�F?B?|L�N?Q?C\�@eD�RL�?o@?B?|GCL�TLFGBELEJ�T�N?R?FJCJK?B?QJ��=J� F� K?oB�S�~?B@�� @?QRJ� oJEJ� F?B?QLp� L� F?B?|JSF?\Op�FJNB?FLK|GCJS�T�OLDLBGCIp�N?WeFLFD\�oGTBLKCJ@'�XeR?oLQLE?�FJNLKO�Fp�}?�F?B?|G�F�SDIO?�ELO�?o@?B?|eFLR?D\p�}?N�KC�@LR?�oeCE���CG�H?E�R?�SEJ�KLR��F�N?Q?CU�'nw

�AB�C��Ke|G�K?oBG�B?Te@�F�N?EBGoe�K?N?@?QJ�F�K�CLDGRGCC\po?�E�RIOJ�K?oB��DE?DeCOJ�T�|JEGR\@J�@�DMGF?DEGSp�F�\OJH�F�CNGBGoeFLFp� TLoGTNGWeFLRJ� S?@e� eDN�H� K�S'� �`� DELBLFD\� @LEJTLF|KJ� TF�\T?O� T� @LDL@J'� PL� EG� CLDGRGCC\� @GCG� RUoJR?� S@?BLRIC?� EL� @LEGB�\RIC?� N�KEBJ@eFLR?� HLBWL@Jp� R�OL@JpNGBGF+\TOL@Jp�o�RR\@p�?K\Q?@p�L@eC�M�fU�*���}?�CLSFL|RJF��G*�B?TF�KO?U'� _?F�B+\� CLDGRGCC\p� L� ELO?|� N?NeR\BC�DEI� @�|RG@OL@J�FNRJFLRJ�K?KLECI?�CL�DEB�RIM�Fp�DNBJ\RJ�eDN��C?DE��Fo?\H'� 2�K� WLD� o?U� CLDGRGCC\� CGDRJ� BLCGCJ@� @?R?O?pNGBGF+\TOJp�CL@�L@eC�M�Up�}?�DJRIC?�N�KoLKI?BUFLR?�DEB�RIM�F'`� T� DF?Q?� o?Oe� K?N?@LQLF� CLDGRGCCUp� \O�@�Q'� 7?TKLFLF� S?@eTK?oeE�� O?B?FJ� EL� O?C�p� ?K\Qp� DEBLFD\� TRLQ�KCJEJ� CLDR�KOJQBLoeCOe�F?B?QL�'nk

��?oJ�CLoBLEJ�RG@O�F�K?�D?EC��*�MG�EBeKCL�DNBLFL'�/G@O?NBJF+\TLCJS�K?�DF?Q?�DGRLp�CGK?F�BWJFJS'�8RG�O?Q?�F�C�N�TCLf��N?RUoJEI�*�TL�EJ@�N��?F�oJ���F�?Q?CI'�2GB�G�SKe�N?�RG@O�FDIOJHDGRLHp�NGBGF?K|e�To?BJp�?DF�K?@RUUp�}?�RG@OJ�*�MG�DRLFCGOC\|G�NRG@+\p�}?�F?B?Q�H?WG�FJOJCeEJ�S?Q?�T�B�KCJH�TG@GRI��}?�RG@OJ�@eD\EI�T��ToB?fU�F�BeOLH�DELEJ�F�DF?�S�?o?B?C�'��KeCL�RG@O�FDIO��NBLTCJOJp�N?H?B?CJp�FGD�RR\'�<JDReHeU�FD��|LR�pOBJFKJp�DOLBQJp�oL|LCC\�EL�NB?HLCC\'�2?E�@�TF?K|e�K?�?KC?Q?gK?�N?EBGoJ�FT\EJ�ToB?U�F�BeOJ���DELEJ�e�FRLDC�S�?o?B?C�'��:Lo�BN?WJCLU�RJ�G�E?K�p�O?RJ�@LU�FBL|GCC\p�}?�F|G�T+fKCLF�D?o�CLDGRGCC\���?o�T+fKCLEJ�RG@O�F�*�NGB�G�@?f�QLDR?�oeR?g���KG@?

.Y

w��0L@�|Gp� DE'� q.k'wq�0L@�|Gp� DE'� q.k'w.�4EGNLC�AB�Cp�6B�TI� D@�H� TLR�TLp� DE'� qZw'w�� �=LB�WOL�p� �/�E?NJD� 528�p� E'� .wp� DE'� qYn'wZ�:LOLT��b4�W'� �sZY'w[�:LOLT�528jPLH�Kp� �PL@?O�p� � W'� qw� F�K� q� oGBGTC\� qkZY'wY� :LOLT� 528jPLH�Kp� �4\C�p� W'� [sZY� T� .q� RJDE?NLKL� qkZYp� N�KNJDLCJS

OjB?@� <1� �1RGQ?@�� EL�aG~?@��ELoep� �_eoB?FCJO?@�'

CL�?o?B?Ce�FL�JH�D�R����/J�G�N�DR\�O�RIO?H�@�D\M�F�\�N?WLFQ?F?BJEJ� NB?� ?o?B?Ce� M�R?��/G@O�F}JCJ'�1N�DR\� N?�JBUFLFN?R�EJWCJS�Q?BJT?CE�CL�FDU�5OBL�Cep�DELFR\WJp�\O�Q?R?FCG�QLDR?CL�?��o?B?EIoJ�*�KGB|LFC�DEI���D?o?BC�DEI�'w�

�7?ToeK|eU�F�RG@O�F�Q?BK�DEIp�eDF�K?@RUUWJ��Hp�}?�F?CJf� NGB�?U� RG@O�FDIO?U� D?ECGUp� EL� }?� @J� NB?K?F|ef@?EBLKJM�U�6?@LCGMIO?��BGDNeoR�OJ'�P�F?\OL@JjRG@OL@J�SKe�CLF�KF�KJCJ�F�D'�6?@LCWLp�K?�O?RJ�CI?Q?�NB?F�KCJOL�6?@LCGMIO?�BGDNeoR�OJp�NB�TFJ}L�\O?Q?�D?o��CG�NBJQLKeU'�4ELBGCIOJS�K�KeDIKB?|LW?U� BeO?U� �� T� DRI?TL@J� F� ?WLH� K\Oef� TL� F�KF�KJCJpoRLQ?DR?FJEI�F?\O�FjRG@O�F���TLORJOLf�o?B?EJD\�TL�5OBL�Ce�'wq

+"��������

�\�K?F�L�MJELEL�T�S?Q?�EF?Be�N?EB�oCL�KR\�E?Q?p�LoJ�N?OLTLEJp}?� S?Q?� K��� CG� oeRJ� F�KBeH?FJ@Jp� �CKJF�KeLR�DEJWCJ@JpB?TBLH?FLCJ@J�CL�?D?oJDEG�FK?F?RGCC\�WJ�DRLFep�LRG�NB?Ke@LC?UELOEJO?U�K?oB?Q?�NLBEJTLCDIO?Q?�O?@LCKJBL'�:G�KJF?�?E|Gp�}?pN?WLF�J�DF?U�DRe|oe�F�528�\O�W?E?FJS�T��DEeNGCG@�DEB�RIM\pw.

F�C�TL�FmKC?DC?�O?B?EOJS�WLD�DELF�D?EGCCJ@p�L�N?E�@�6?@LCKJB?@0LOEJWC?Q?�<�KEJCOe�528'�=LR?�E?Q?p�MG�oeRJ�o?S?F��N�KFJ}GCC\pL�CG�N?HFLRL�TL�DRe|oe�WJ�K?oBG�FJO?CLCC\��ELo?FJH�?o?F]\TO�F'V?Q?�N�KFJ}eFLC?�N?@J@?�N?DE�SCJH�O?C~R�OE�Fp� \O�� F�C�@LF� TFJ}J@� O?@LCKeFLCC\@p� N�KFJ}eFLC?p� o?� MG� oeF� �oRJDOeWJSO?@LCKJB�p� �N?FCJS�CGDN?K�FLC?O�p� �M�OLFL� RUKJCLp� N?fKCLCC\F?\OL���N?GEL�p�\O�Q?F?BJEI�NB?�CI?Q?��=LB�WOL�''w�

:L� N�KDELF�� K?Oe@GCE�F� �PL@Oe�� EL�:LOLT�F� 528jPLH�K�AB�C��oeF�C?@�C?FLCJS�K?�BLCQJ�4ELB�?Q?�XeRLFC?Q?�q�oGBGTC\qkZY� B?Oe� T� KLE?U� DELB�JCDEFL� q� D�WC\� qkZY� B?Oe'wZ� �\C?@�CLM�\�oeRL�TLEFGBK|GCL�b<aw[��S�NGBGKLCL�K?�F�K?@L�F?\OL@<1� �4\C�'wY���OLF?p�}?� K?� E?Q?� WLDep� \O� MG� FJKC?� T�:LOLTe528jPLH�K��4\C��W'�[sZYp� �AB�C�p�H?W�E?K��oeF�e|G�D?EGCCJ@p

.n

@LF� RJ�GCI� BLCQe� DEB�RIM\'�d?EJBJ�@�D\M�� N�TC��Gp� e� WGBFC�qkZY� B?Oep� S?Q?� C?@�C?FLC?� K?� DEeNGC\� A?BeC|?Q?� TN?NGBGKCI?U� KLE?U� DELB�JCDEFLpwn� LRG� EJ@� BLT?@� S?Q?N�KFJ}GC?�K?�DEeNGC\�N?BeWCJOL�T�KLE?U�DELB�JCDEFL�..�D�WC\qkZY�B?Oepww�}?�oeR?�N?KLC?�K?�F�K?@L�e�D�WC��qkZn�B?Oe'wk��5FGBGDC��qkZn�B?Oe�F�C�}G�oeF�e�BLCT��N?BeWCJOL'k�

0?WC?�CG�F�K?@?p�O?RJ�S?@e�NBJDF?fC?�D?ECJOLp�LRG�ELOeBLCQe�N?KLf�@LS'�2GEB?�4?K?RIp�BGKLOE?B�E?@e�NB?�bBeNe�528�b?FGBR\�p�K?�\O?��CLRG|LF�0<�.Z��=LO�FOL�p�\OJ@�O?@LCKeFLF�AB�C�'kq�:LSo�RI��NBLFK?N?K�oC?p�}?�S?Q?�N�KFJ}GC?�K?�BLCQJD?ECJOL�F�qkZw�B?M�p�o?�S?Q?�?NGBLEJFC��TF�K?@RGCC\�NB?�F�KK�Rk[L���/G@O�FDIOL�D?EC\��p�T�KC\�.Y�RJDE?NLKL�MI?Q?�B?Oep�oeRJNGB�JS�BLT�N�KNJDLC��\O��6jB�<�KEJCOLp�AB�Cp�D?ECJO�528�'k.

1KCLWGp�?OBG@?Q?�CLOLTe�NB?�N�KFJ}GCC\�K?D��CG�TCLSKGC?':G�TCLf@?�ELO?|p�WJ�*���O?RJ�*�N�KFJ}GC?�S?Q?�K?�BLCQJ

@LS?BL'�:LNBJORLKp� �FLC� �6BJFeMIOJS� EFGBKJEIp�}?� �AB�CL�N�KFJ}GC?�K?�DEeNGC\�@LS?BLp�O?RJ�S?Q?�CLQ?B?K|GC?�ABGDE?@PLDReQJp� LRG� MG� CLNGFC?� F�KTCLWJF� oJ� e� DF?�H� DN?QLKLH� DL@�AB�C�p�L�F�C�MI?Q?�CG�B?oJEI'k��2B?�EGp�}?��AB�C��@LF�DEeNmCI@LS?BL� 528p� f� EG|� BGKLOM�SCL� TQLKOL� e� qZ� E?@�� � �/�E?NJDe528�p�LRG�EL@�CG�N?KLC?�|?KC?Q?�K|GBGRLp�TF�KO�R\�N?H?KJEIM\��C~?B@LM�\'kZ�_e|G�@?|RJF?p�}?�S?Q?�N�KFJ}GC?�K?�BLCQJ@LS?BL� N?D@GBEC?'� 1KCLWGp� NBJ� F�KDeEC?DE�� K?DE?F�BCJHK?Oe@GCE�Fp�MG�NJELCC\�EBGoL�TLRJ�JEJ�F�KOBJEJ@'

2�DR\�NGBGH?Ke�F�5OBL�Ce�.k�WGBFC\�qkZn�B?Oe�EL�TQ�KC?�T:LOLT?@�b<a�T�q[�DGBNC\�qkZn�B?Oe�F�R�D��N�K�4ELB?U�4mRRU�AB�C��NGBGKLf�DF?U�D?ECU�O?@LCKJB?F���4ELH?F���S�NGBGoJBLf6?@LCKe�0<� �=LO�FOL�j.Z'k[�:L�|LRIp� MI?Q?�CLOLTe� ELO?|�CGFKLR?D\�F�K�eOLEJ'

wn� 528jPLH�Kp� �PL@?O�p� T� qkZY� K?� b<ap� DNBLFL� C?@�CLM�S� �� F�KTCLWGCI'ww� 528jPLH�Kp� �PL@?O�p�:LOLTp� W'� qk� F�K� q� WGBFC\� qkZY� B?Oe'wk�:LOLT� � 528jPLH�K� �4\C�p� W'� YsqsZn� F�K� ..� D�WC\� qkZn'k��4EGNLC�AB�Cp� PJ@?U�F� oeCOGB�p� DE'� q�'kq�2GEB?�4?K?RIp� �/�E?NJD�528�p� E'� qwp� DE'� q[.'k.�0L@�|Gp� DE'� �Z�'k�� �FLC� 6BJFeMIOJSp� �4EGoGRIDIOJSjAB�C�p�aR\H�2GBG@?QJp�=UCHGCp� W'� Zp

.k� D�WC\� qkk[� B'kZ� �/�E?NJD�528�p� E'� qZp� DE'� Y�'k[�4EGNLC�AB�Cp� PJ@?U�F� oeCOGB�p� DE'� qq'

.w

_R\��AB�CL��MG�oeRL�Ke|G�BLK�DCL�HFJRJCL'�<�C�B?TN?F�KLfNB?� MG� ELOg� �<� KBe|C�S� LE@?D~GB�� NB?H?KJRL� F�KNBLFL� FNB?F�KCJOL�:'� <� E?@e� WLD�� \� NGBG|JF� ?KCe� T� CLSQLBC��JHHFJRJC�F�DF?f@e�|JEE�'�2�K�WLD�F�KNBLFJ�NB?F'�:�F�KWJELF�@GC�CLOLT�b?R?FC?Q?�<�SDIO?F?Q?�aELoe��b<a��NB?�2?DELC?Fe�5b<7g�PL� FJ\FRGCe� @e|C�DEIp� QGB?SDEF?� �� F�KFLQe� F� OGBeFLCC�o?B?EIo?U� F�KK�R�F� 528� F�KTCLWefEID\� N?BeWCJOL� AB�CLP?R?EJ@� ABGDE?@� X?fF?�� PLDReQJ� �� OR\DJ�'kY� 6Bm@� MI?Q?p� e4F\EO?F?@e�:LOLT��b?R?FC?Q?�6?@LCKJBL�528��AB�CL��TQLKLC?N?@�|�FJTCLWCJ@J�O?@LCKJBL@J�528'kn��G�EG|�EBGoL�FFL|LEJFL|RJFJ@�F�KTCLWGCC\@�KR\��AB�CL�'

���&

6?@LCKJB� .Z� 0<� 528� �=LO�FOL�p� D?ECJO� 4EGNLC4EGoGRIDIOJS���AB�C��p�/JMLB�P?R?E?Q?�ABGDEL�X?S?F?��PLDReQJ��OR\DJp�TLQJCeF�F�o?U�k�RJDE?NLKL�qkZk�B'�@�|�Q?K'�.j��N�DR\?o�Ke�CL�dGH?DR?FLWWJC��O?R?�D'�2?Q?B|GR�MG�o�R\�:LNLfKRLpY[�O@�CL�DH�K�F�K�@'�XBC?'�5@JBLUWJp�F�C�OBJOCeFg� ��AR?NM�pN?�EL��kw� 1DELCC�S� CLOLT� �AB�CL�� FJO?CLC?p� S� BLT?@� TK?Oe@GCEL@J� KR\� P2� 5b<7p� \O�� F�C� C�D� F�K� 7GF?RUM�SC?Q?2B?F?Ke� F� 5OBL�C�p� K?DELFRGC?� ELO?|� �� @L�JC?NJDJ� EBI?HDN?QLK�Fp�}?�CLKBeO?FLC��e�M�S�OCJT�'�2?H?FLCJS�F�C�F�@?QJR���[p�CL�ORLK?FJ}��o�R\�O?DEGRL�e�MI?@e�DGR�'kk�:LK�f@?D\p�}?DN?@JCJp� CLNJDLC�� CJ@� EL� S?Q?� o?S?FJ@� KBeQ?@p� eEFGBK\EINL@]\EI�e�DGBM\H�@LSoeEC�H�N?O?R�CI�CG�E�RIOJ�NB?�MJH�KF?HFGRJOJH�NLEB�?E�Fp�LRG�FD�Hp�HE?�F�KKLF�DF?f�|JEE\�F�o?B?EIo��TLF?RU�DF?Q?�CLB?Ke'

���

7?KJC�� 4EGoGRIDIOJHp� \O� ELO?|� <JKLFCJW?@e��?CK?F��@'� X?QKLCL� 4EGoGRIDIO?Q?p� CLRG|JEI� FGRJOG� NBJTCLCC\� EL

kY�0L@�|Gp�DE'�q�t�2?DELC?FL�5b<7�T�.[�DGBNC\�qkZn�B'p��/�E?NJD�528�p�E'�kpDE'� �n�*�nq'

kn�4F\EO?FJS�:LOLT�b?R?FC?Q?�6?@LCKJBL�528�T�qZ�|?FEC\�qkZn�B'��/�E?NJD528�p�E'�kp�DE'��n�'

kw�2JDI@?�<LDJR\� �eKTJOLp� H?B'� �1B�HL�p� K?� K?WOJ� �AB�CL�p� /�R��1FGBO?p� FmKq�� WGBFC\� qkkq� B'

kk� ��� �C~?B@LM��� ?EBJ@LC�� F�K� NLC�� @L�'� 8B�\KCJ�ae@?FDIO?�j4EGoGRIDIO?�BLT?@� T�� DHG@?U� N?H?FLCC\'

N?K\OL�TL�~�CLCD?Fe�K?N?@?Qe�e�FJKLCC��M�f��OCJQJ'�2LC���BJC�6?FLRIWeO�CLRG|JEI�FGRJOG�NBJTCLCC\�TL�DH?B?CGCC\�RJDE�F4EGNLCL� T� C�@GMIO?�� EUB@J� EL� K?N?@?Qe� B?KJCCJ@J~?E?QBL~�\@Jp�L�NLC��@L�'�8B�\KC��4EGoGRIDIO�S�*�TL�K?N?@?Qe�C~?B@LM�\@J� EL� @LEGB�LRL@J� NB?� OjBL� �AB�CL�'� <?CL� ELO?|K?N?@LQLRL�BGKLOE?B?F��E?@e�F�N�KQ?E?FM��BGTU@G�EL�DRe|JRLO?CDeRIELCE?@� e� N�KQ?E?FM�� OCJQJ� K?� NeoR�OLM��'� _jB�=?KGDE7�NGMIOJS� ��b?BJDRLF��� EL� N'� 4EGNLC� �?R\�� ��=LB��� TCLRJ�AB�CL�� ?D?oJDE?� �� NBLMUFLRJ� T� CJ@� e�:LKBLS?C�� �XGDOJK�'��OLF���C~?B@LM���N?KLF�ELO?|�N'�1DJN��JQLB���2�@DEL��p�\OJSWLDE?� TeDEB�WLFD\� T� �AB�C?@�'� 9HC�� TLFFLQJ�K?�FDEeNC?�� DELEE�FCGDRJ� FL|RJF�� KGELR�� NB?� S?Q?� K��� CL� /G@O�F}JC�'� <D�@� �@DGBKGWCL� N?K\OL'� <DEeNCe� DELEEUp� ��� NGBGORLK� EL� BGTU@GLCQR�SDIO?U�@?F?U�N�KQ?EeFLF�BGKLOE?B�M�f��OCJQJp���E?@e�oGBGCL�DGoG�FD��@?|RJF��CGK?E\QCGCC\�EL�N?@JROJ'�=JO?RL�6eRJOEL�8K@�C�DEBLM�\��/�E?NJDe�528��K?N?@?QRJ�e�N?\F��OCJQJp�TL}?�CLRG|JEI��@�DNGM�LRICG�DNLDJo�'

�����5����*(��%

[Y[Y

�q

�C:<6I=D:�6C

������� �����u� ���������-(����� ���"�������������u� �{����� %����p����-"�����,� �+�(�����������p�"�%�� ���"�����-"%�+�(���������������'���������������"��� ���� ��%������$��"������p�{���-���� "�$��-���������u���������%��$����%� �u����$�����p���������"����������"�%���������"�����������(p�"��"--��v��"�� (������"������'����"%%����������������{���v-����� ��p�,����"�������-"(�$��"�j����"�������������� ��"�(�" ����������u��������'

���-"�����,� �+�(��"������%��{���������p�������$�������"�$�����u������������r�������r" �r"��p�"�%��!�������������h����������(������,��������'�x��{"�������� ��"�������u��������������p�"�%��������{��������"�u�$����$��-������u�"��" �����"�%�"$$��������$����� "� �"%��p,���" ���"�����������u"�����"�%� �������%�-"�����'�x�����������"���"���%�,(�"������������$���( �'�x���%�� ��-�������u�,"�� ���"��� ��� ("�%�������������u��%��" ���-�����" �u�� ��$����"��"������"� �%�,(��$���"�%�����%'�x���%�� ��-�������u��"�����"������(�-���� �"�%����",� ��(���� ����(����������"%�������������$��,����"������"�%� �"�" j������� ���u���%���%�" �-��������"����u���"����(�$��%���"%��$'

�������������u�� "�������"%���������������g������� ���u�������" �� " ��� �������������"�%���"����"��qkZZ*qkZw�����-��(�( �������������������"g� �������"� �"��( ��(�����%�(������������������"����"�p�qkZZ*qkZw��p���������������"�%�"���"��"��"����,(�� ���"�����-"%�+�(�p�{�� ��{����)����%�u������ (�"�%� "������"�j� ��,�%�,(���"�������������+�"�� ��-��" ������"�"��p������(-�����u�������" �� " � �� ���� ��"����"�'� ������������p� " ��%��$� �������"�"�p�{"�������� (�"���v-����� �%�$����� "�u�$����p��" ��"%(����"� ��qkZZ�"�����-� �"�p����)����%������� ��-"�(��h� "�"��"�% "����{"�����$�"���"�%�� "����� �"%����u����� ��-"�(� �%�,(���������p,���{"�� " ��� "�� �v � ���� ����(j�� ��'� �x�� ��� u� (� ����"��%� ������ ���"�%��"����������u�-�������",����{��������-���p�"��" �����"�������-����, ������� "������-"-��'q

���(� ��� �� ������{��",����� ���"�����-"%�+�(�'�x���"� �%u���������"����" (� ��� ������� "$��x �%�����"���(������(��{������������ �(�"p�{��������{"��,���� ���qk.�� ���"�-���� u"�� ('���������������u�����(��������{"�����(�" �������� � ���" j�%� "j

q������"�"�p�����%���"p��-��(�(� �������������������"g��������"��"��( ��(����%�(������� �������� �� ��"����"�p� qkZZ*qkZw'����� �p���� �,��(�p� qk[�p� -'� w'

�.

����" �{���p�,�������������������"���� ���(�"�%���� ��� �p�u���{�� ����{"�� "����-���� ���%�,(������� ����"�����������"�%���������"��'�{� ������� "-�%�u����� "��j ",����������"�(p�"�%�u��" (������%����� ���������-�������p����)����%�������"���"���v� �"�(��� � �p�"�% "������������%���"��"�����%��"������-� �"�p�������$������� ��-"�(��h� "�"�'��"�������,� "���"�� "����� �"%���������� ��j-"�(� �%�,(��������p�"�%�u��" (�����"�%����u������� ����(������u�����x�"%��"�������u��������" �� " ��� ������"����"�'.

��������-����, ����������������������� ��- "(�%�,(������"�"��������"--�"�"� ���u�������������-�������%�����'����������� (��(-�%��������"����%��$����%�,�����p��,����������%���"�����(�,��{������p"�%��� -�%�����"�����������"������{"(�'����(� ��� ��������{��",������'�����{"��,������������� "$���u����r��(���"������������ �(�"���"�-���� u"�� (�"�%� ���������������{���� ����{"�� u����(�"���� %'#%� "��%�"��"���" ��������%�%� "��%������ u�u� (�������� �,��"��������$$ �'��%���-���%��(����u��x" �"��"�%������"�"�p�����{����%"��"����� ���p��"���� �"%����u�������"���"����%�������������p"�%��� �" ��%�����p� ����������� �(�"'����" (p�����{����%�"��"�(-����"���������" �� " ��� ��������"�%���"����"�'�

������� ��-"$��u���������� �����u������-(��������,����{�%u���� ������+���������p� ������$�� � ���� �"�$����� �u� ������ �����r�������r" �r"��p�,� "�������,������u � �������������"�%� �� ����"� �����{�� ��,����"�������"�%� ��-��" ������"�"�� ���%�"�%�u��$��'Z ���{"��,� "�����u������ "�$�����"�%�������u� �%�%� "�������������� "�����"��" ��������u������ ���������� ����'

����� ��� �$(p�{�� �� �����" (� ��-- ������� ���� up� � �"�� $��"�%� �����"�(��" ��p�,� "�������%�� ��,��������� (����(� ��- �v�-�j ��� " �����"������%����$�qkZZ*qkZk��������{��������������"���"������$�"-�� ������������p�,���" �����������$$ ��{"$�%����%�u������u������ "�%��"�%�����-�-� "����'�h����"��������v-����� �%��"�(�-��j���" �-���� �������"�������"�%���u��� ���p�����"��"�%������"��� �j-�����"�%�%� �%�%����u� (�%�%� "��������� ���������������$$ ��u���",������u�������u�������-��- �'�h����u� �������������$$ �p�������������

.���������� ��"�(�,��$�"-�(��u�����������������$��������������+�����-���'������-(���p� �� '� qwp� --'� .n�*.nZ'

�� ���-"�� �����p� �(����� �� ,������g� �-��"%(j�������"� qkZn*Zw'����� �p� ���,��(�p�qk[�p�-'�n[t�x����� ��"�(� �u�� ���%�� ��,�%����������+�����-���'������-(����p�� '� qwp� --'� .wZj.ww'

Z����-"�������p����r�������r" �r"'����� �p�����,��(�p�qk[.'

��

����"�,�����$���p� ���"�,"�� ��{����������������-�����qw��$���qkZwp�{�������{"��.wp��"�%������������k�i����,���qkZkp������r� ��j� ��"��"�{�������{"���[�(�"���� %'[ ������"�"��%��%����.q���-���,��pqkZw���"�������� "$���u�h( ( ������"�,�����$���p�"u��������" �%��j�" (�{���%�%������ u�����" (�{���������{��-���� 'Y

������������%�������� "���" �����" ����������u��������������������� �����������p� ���� ����� ���� ,"�� ���{�� �� ���(�{"$�%�{���� �������('� ��� ��� �"�� u���� ������+����������� ��"�� ���� ������ u����������� �(�"�{���� �������(�������,�������p�-'�n�*nZ�'�x�{����p������ ��"�(�" ���������"��"�����"�%����u������� ��-"�(� ��j[�p�k["��p� "�%� "�� "�����"�%��� �u��" �� " � �� ���j.Z� ��"����"�p� "��"�- (��� ��%�%� ���������-������u������������"�%������"����"�'n

�� �����u���"������"��" ���,����-�, ����%�����"�������� ������u���������-(����p��������,����������"��+������( (�p�"�%��������������{�-"-���"�%�)����" �"��� ���,���������"����"�%����%�"�-��"'w

[� �"�( ���%r(�� ���������p� ������� ��� �� �"�������p� %"��%� q�� &���p� qkkq'Y� ������+��� ��-���p� �����-(����p� �� '� qwp� --'� .wZ*.ww'n����(� ��-���"��� ���� ��� "��� ��-����� �u� � �����p�����"�%��� �u� �������" �� "

�� �����������p�"�%������"������������ ����u��������p�"�%�%�� ��-�������u�,"�� ��������,����(���%������u����qkZ[�"�%�qkZY����������������(��u��������� �(�"'����"�" +�(��� �"%����"���+�(���r��� +����������(�"���qkZ[*ZYp�,(��"��� "����"����p���"����"%������"���r����"p� "�%� ���u���"�(���� r���(�p� qkZ[*qkZYp� ��"�" +�(�� r����� u���� � ���� ��%� �uqkZn�"�%�,�$�����$��u�qkZwp��������r���������u���qkZ[*qkZnp��u�������h���(%��i"%�"�����"%��� ��"��� ����-"���� "���� �" ���-����%��%��"� �%� �(��"����" � ��-������u� ����� ����"��'

w���u���"�����",������������"�%������� ��"�(�" ��������� "��,��u���%��������u� �{j��$� �� ����� �u� ���� �����-(�� ��g� �� '� kp� --'� .[.p� �n�p� �n�p� Z[qp� Z[wp� ZY�*ZY[t�� '�q�p�--'q[Z*q[[t��� '�q�p�-'�Z�t��� '�qZp�--'�Y�p�wwp�qZwt��� '�qYp�-'�qYnt��� '�qwp--'� q�p� .�*.Zp� q[.p� qk.p� qkwp� .�q*.�.p� .�Zp� .q�p� .�[*.�wp� .Zq*.Z�p� .[�p� .[Yp.Yqp�.Y[p�.Yw*.nqp�.nnp�.wn*.k�t��� '�qkp�--'�qk[p��qnt��� '�..p�--'�qqp�q�p�.q*..p�qp� �Zp� Z�*Z.p� [n*[wp� q�Zp� q.[*q.Yp� .�Zp� �.w*�.kp� ��n*��wp� �nZ*�nYp� �kwpZ��*Z�Zp� ZZ�p� Z[k*ZY�p� ZY.*ZY�p� ZYnp� Zw�p� Zw.*Zw�p� [.[*[.Yp� [Z�*[Zqp� [[[*[[Yp�[Ynp�[nq*[n.t��� '�.�p�--'�q.Zp�q[kp�qY.p�qYZp��kY*�knp�Z�nt��� '�.[p�--'�.[� �"���$�p��nZt��� '�.wp�--'�nwp�wnp�q�np�qZkp�qYY*qYnp�qn�t�����������( �p�#%'p������"��+�����( (g����-"��"��"���(�"��-"���(����"�-� ��� "�(����"������"���+���������"��+�������� j� �"���%p� Y���������������(� ���"��p� �"��( ��(�����%�(����� �������p� �h"�j�����p� ��"�( ���p� �qkZZ*qkZY�'�!"��"{*�������p� qkk[p� --'� wp� .�p� nn*nwp� wq*w[pk.*k[p� kw*q��p� .k�p� ��qp� �..t��-��"����" ���-����� �u����" �� " � �� ���� �������p"�� {� � "�� ���� -� ��� " � ��-����� �u� ���� i"%�"���� �h���(%�� "��� ��� ��� " �%��(�����( �+���"����" �� ��� ���� ������ &'� ���� ��()� �� � ����� ��� �����$�� (� "�%�������j�����$�� (������"���p�"��������������(��u�����������,�"�(t��"��"�������(�"p�������� �(�"�������p��(��*i�{�����p���"���+�(��-(�+����(�pqkk.p� .YZ�-'t� ��"���"���%���+�(�p� ��"��� ����-"%���*(���(�%�m%��+�p�����+�����"��(p���qp�qkk.p�" ��$� �����{� ��� �����"��"�������(�"+�� ,���t� ��"�� �"�����p� �x���� ��"� �������"�������� �(�(�p�x�������"��(p� Z����(�"�p�i�'� Z� �[Z.�p� Y�-�� p� qkkZ'

�Z

,-./0� 1".2/34-5

���-"�j�"�"�k����,� �+�(��{"��,����qw��qk���� ��,��p�qkqZ��������� "$���u�x� (�+p��"�����" ���p� ��"��j��"�����+���, "��+� ������ "�$�� u"�� (� �u� � �"� "�%� # �����"� ���,� �+�(�'� ���-"�� �"%,�������� ���"�p� h��%"�� "�%� �� �%(�(�p� "�%� �������p��"��"pi"�" �"p�"�%���"j����"'q�

�������,� �+�(��u"�� (��"� ��u���������� "$���� ��� �"p�u��j��� (�����"�,��������(p���{������,( ���"�����u�������, "��+'qq

���-"��{�������$�"%��� ��� ������ "$��h� ������{���������u"����{"����" ���$�"�%� ��- ���%��������� "$���"�"�('�u���{"�%�����{"����������"�,�����" ���+�������"�(�{�� ����� ��- ���%�����qk�['

6.784"/30./5� 9:0";"0"<8

�������,� �+�(��u"�� (�{"��" {"(��%�%� "��%�������� "�����u��"���+�� �,��"����'q.

k����� �� ��%� �"��� ��� $����� ��� ���� ������ �u� ���� ������� ��(�"� ���" ���� u���q�� ��-���,��p� qkkZp� ��� ��"%�"� ���,� �+�(�'

q�� ���� � %���p��"��"� ��"����%� �"�����"������"�� %��%� ���!"��"{p� �� "�%t� ��j�"��%��%� ��� ������ "$���(��%"t�i"�" �"p�{���{"��,���� ��� ������ "$�����"�������p"�%�{������"����%� �"���{"���"�( �{p� %��%� ��� �"� �����p� �"�"%"t� h��%"�p� " ��,����������"�������p�%��%�����������p��"�"%"t���"j��(�"p�{������%������"�����(�"��������(��u� ���� u����� �� %� ��� ���� u"�� (�{���%��%�(���$p�{"��,���� ��� ������ "$�x� (�p�"�%�{������"����%��"���{"�����" ���p�%��%���������(p�h�p��"�"%"t����-"�,���� ��� ������ "$��x� (�p�%��%� ����r� ��j� ��"��"t�"�%��� �%(�(�p�,���� ���x� (�p%��%� ��� #%������p� �"�"%"'� ��"%�"� �������+�"j���,� �+�(�p� ����-"�������� �� ������%(�"�� �(�"� � ��r�(��� � ��%���p� qZ��"� �p� qkkk'

qqx���$��"��$�"�%u"������"� ��{"��,����������,��� "��������%���������� "$���(��������"������"���������%� �"'�x���$�"�%u"����p����%��p�{"��,��������p�"�%����qwnn�������{"������u"����p�� �"'�u����,� ����$�"���" ���p�� �"��"����%�# �����"�����"�p�"���" ���+�%"�$����p� u���� ���� �� "$�� �"� �����"�����"�(�'� � �"� �"�$��� ����������"p����"�������px� (�p�h� �����p�"�%�u��" (�����"�"�(����{��" �r�"�(������"�,�����$���'������+���,�"�p���� �"�� �"� -���%�� ]�����+�p� �"�,���+��������p�i�'� q�q*q��p��� ��,��p� qkkZ'

q.������$��������� ��" ���$� "����p� � �"����,� �+�(���%� "��%����%��%���u���"�j��"�� -"������'� u���� ��������$� u���� ���� ��" �"�� u����� ��� " ���� (� -"��� �-"��%� ��� ���u" � �u� qkqw� ��� ����,�� %��$��u� ����!���������"���"��i"����" ���-�, � � ��i��� �������" ������$���'�� �"�"�%�# �����"��� � "��%�������-"������������������ �� %���'������� �� ��%� �" u� �u� ���� qk.�+�p� ���"�� ,� "��� "����,��� �u� ������"���"���� ��"�(��$"��r"����� ����'� ��� ��� ������ (� -����, �� ��"�� ,�������"�� "�%�h��%"��{���� " �����,�����u������� ������$"��r"������u�--�����"%����u���"���"���(��"r�"�������'�"�� ���h�%���p��i"�����" ���j���� ���������p��"�������-"��������p���-�, ����%��"��j� ��-�p�&"��"�(p�qkkYt��"�� ���h�%���p���"�������-"��������p�i�r,��(�"�i"����"pi�'Y"�%� � �� ��%��$� ������p��"� �p� qkkY'�������%��"� �%� ,��$�"-�(��u� � �"� ���,� ��(m��� u���%� ������"�"� ��,������+�"p� ���%"���p� -������(�� +p� -"������p� �r���(� ��%���+�"��" ����p�i�'�qZ.��q.wk�p�k��� ��,��p�qkkw�"�%�i�'�qZw��q.k[�p�.���� ��,��p�qkkw'

�[

���-"�p���� �"����%�������������v���$�"%���u���$�� ��� p��,�j "���"����,����u������n������+��u�� "����������"���"��� �����$��� �"����������"�,�����$���p��"��%�"u������ '���(�����������(�'!����� "���{"��%���� ��%�,(� ������ ����$���������� ���qk��� ������,���� �������%� ������{���� ��� "�� � �$" � ��$"��r"����'������{��������u��������-��������-"�+������ �����"�(�" �����('�x���-�"��",���� ����� ��� ���� u� �{��$�{"(g� ��� "��� ��� ���� ���� �����"�(" �����(�" ��"%(�%����$��(�� ��� �(�"���!���� �����������u� ����� ��%"�(�� ��� �(����� �"��%�����v����"�����$���� ����%��������� ��"���"� �� ����$���-�"���$� ����-�-� ���u��(� � ��� '������{������$����u����{���,� ��$�%��������$���-��q�

��������"� (�qk��+�p�����-"��,� "���"����,����u��������"������i��������h�"� ���u� ������$"��r"������u���"���"��i"����" j�����p�"�%������ (������"u����,� "������-����, ��u���-��-"$"�%"��������"�������"�-������v� �������u�������$"��r"����'qZ ��������"����������)����%���������� ���� ���(����{�� �����{"�����(�" �����������h� ( �� �� ����p� "�%� " ��� ,� "��� "�� ������� ���� ��� -�(�� " �%� "�����'q[ � �������������p�{�� ����"�� ��$���������� "$����uh������� �(�"p� ��� ,� "��� " ��"����%�{���� ���� ����"��� "�%� ���-��- �'�x������{ �%$���u������"��"�$��{�%�"�"�� " (����qk�[�{������,� "���"���-������"������u�������"���"��-�, �������"�%��� -�%%�����,������"���"��-�, � "���������������$���'qY

�� ���� �"��� ����� �qk�Z*qk�[�� ���-"�p� ��{� .q� (�"��� � %p)����%������i����$"��r"������u���"���"��i"����" �����'� ��������$����u�Z���-���,��p�qk�k����{"��"������%���� ���� �����{�������" ����������� "��%���������������"�-"���j��"����"�%���������"� ��j ����"����� "�-p�h���r"��"���r��"p�{�����������"���%����� ������%% ���u���-���,��p���������,�$�����$��u���������"�j�� ����{"�'x��� ,������p� �h��%"�p� �{���{"�� "������%� �����"��{p�{"��,���$-������%�����"�,���)"� '�x���-���%��(�p��������p�" ����"�����$����������" ����������������� ��{������� " �%������ u��"�+��������'qn

q�����-"�������p����r�������r" �r"p�-'�Z�'qZ����"-��������( ���h��%"�����,� �+�(��p�����-"�����,� �+�(�j]�����+�p� �"�"��

�x��������"��(���"� ����qkkZp�-'�nY'q[����-"�������p��(�������,������p�-'�q�Z'qY�i'i'p������-"�������j���,� �+�(��*�x������g��"����" (�%��,����"u���p������(�

�����p��"(p� qkw�p� --'� qq*q�'qn����-"�������p����r�������r" �r"p�-'�qZt����-"�������p��(�������,������p�-'�q�Z'

�Y

!��������"����" ��u������������-�{��p����-"��"�%�����,�������� �%(�(�p�{���� ������ -��u� ���-"�������"p� "� ��" ���� u���� ����� "$���u����� �"�"��� �����"�{���{"�����-� �����u�� ��� �p�"�j����%���" ���$�-������������"���, � �� ��� ���������� "$����r�(�"��� h�� �"� ��$���'� �� ���� �"��� ����p� ���-"�� �������%� ���� ��j�-��"����" �" ���������"��"���,j�"���� �"%��'qw

���{"���������"������"����%��"��"��(��p�"��� "$��$�� ���"����%,(����'���%����( ����������"+��������������� �"�"��� �����"�'���q��&"��"�(p�qkZqpqk�"�%"�$�����{"��,���p�{���{"���"��%�# �����"�����������u����-"�+��������p.� �,��� " �%��� "p�"u��������$�%��������(�"��������+�"p�{���{"�� " �%��� "�,(�" '.q ����������u����%�����������{"(�,(�����u"����p�"��{� p�����������(�{"����� � � ������",������'.. ���������%"(����� ������������ ����{����������"��'.�

�"��"��(���{"���u���$����"����p�{� �,�� ��"�%�,�"���u� p�{����-��%��{"������ ��$p�$� %����"��'�����%�%�������)�(��"�������" � �u�u������(� ��$�,� "�����������,"�%+������ �����"�(�" ���������%�%����" �{�u�������" ��(�����"����%� �u�'����� ���%�����{�������,���%�"�%�,���$�������������{�� %��{�� �� %����# �����"���� "�p�{����"�j���%��������"�%���{� ����������� "$�p��"�%��� �%��(�"��� "��"�p{����"����%��� ��"�%���{� ���������� "�%'���������%�%������"���" �"� ��������������� ��%�%"�$����p�,���" ��%��$����# �����"j�� "������p���������%���"��������{,���� �� %�,���"��%��� �%(�(������ �%(�(�"��u����{����"�$�� '��"��"� "����%������������,"�%+��{���'.Z

x��%�%�����u��$����"��"�������p������,����$�����"�%�����,� ���%%"�$����p��� "p�������$������ ��������"$���u������,���( �)"� p.[��������

qw����-"�������p��(�������,������p�-'�[�'qk�u���� �� �"�������+�� ���%�� �p� ����{"��,������� ���� n����u� &"��"�(p� qkZqp� ,��

���� ��� ���� q���� �u� &"��"�(p� "�� ���� ,����j ����u� "��� "������'.�����"-��������( �� �h��%"�� ���,� �+�(��p� -'� nn'.q���"%�"��������+�"j���,� �+�(�p� ����-"�������� �� �������%(�"�� �(�"���r�(��

��%���'..� ���-"�������p��(����� �� ,������p� --'� k.*kZ'.�� ������ �������( �p� �h�� �(� �"� r�� �� ��%(�"g� � "��"� %��+�"� � "������ ,"�+�"�p

h��(����p�i�'� k� �.n�p� -'� qZ'.Z���"%�"����������"j���,� �+�(�p� ����-"�������� �� ����� ��%(�"�� �(�"���r�(��

��%���'.[� ���"-� �������( �� �h��%"�� ���,� �+�(��p� -'� nw'� ���$��" �� �u� [� ������� u���

-������ ��(�"� ���" ���� -�������'� �(-�{������$� �u� ���� ������� "��� ��� ���� ������ &'���� ��()� ��� � �������������$�� (�"�%��������j�����$�� (� �����"����"�� ������j������(� �u� �������� ��,�"�('

�n

�������'� ��p�{������-"�"��%�u��������u"�� (p��������%������ -����������$�� ������ %�uu� � �� �� ����"� ��� ,(� "����$���%� " � ��%�� (�h��%"�"������"��� "����u�����'.Y ���"�� ��"�p����������������p�� "�����"����������{"��������"--� (��"����%p�,�����"����� ���%����� �� %���%�� (� "�%�{�����%� ",���� ���� u"���'.n �������"������%��,�����"��h��%"�"��{"����� ����{�������p�"��{"�����-��" ������"�"�p��,� "�����������������"���������������������'.w ������p���u� �����p���� ������%�uu� � �����"��{���������������p���u�"�%����{�"���v���������� �-�� "��%������ ���'���������������p��������p��������"��"�(����� ���"���$���������$����p���$� (��" ��%����� �����,�������u�{������������ �,��"��������$$ �p�-�"���%�������" ��- ��������p�"�%�������%��������" ��u� ��'.k

������������ ��u���{�����-��,", (� "���u��������$��"�� ����u������������p�{���,���$����-����� �� %����"��u�������-"������'�x��������(�u����������, �%�"�-�"(��'��

��"�{�� �p�����{�u�� ���%�������(�%�uu� � �� �� ����"� ��'�����{"��"������%p�"�%��v-���%����-�(�� " �"�%�����" ��������'�x����"��{"����"��%��uup�����{"���"���%p�"�%�����"����%�,(�%�"��p����- (,� "��������{"��������+���{�u�'�q�x��� �� %����{��������� %�������������"�{����u�� �, (������� �%�%����$��� )"�!�� "�����{���������j "�%����&����qkZnp�{���������"������ "���",���������{�� ���"��"�"%�,�����������)"� '�.��"��"�%�%��������{�{�"���"--���%�������-"�'���������,� ����%���"����"������"%������������!����"�%���"���� ���������"�"%"'�� ��� (� "����%�%����� �"���",��������u"���u�������u"�� (�����"�"%"p�" ����$��u���"����(� ��$����������%�%��������{"�(�%��"� ��",�������� �u�����������%��$����%����",��������%�"���������{"(� ��� ����!���'� ������+���������p� ��� ���� ���(� ��%� �u� ������ ��$� �u�p���$"�%�%�����%"�$����j��j "{�{���� ����"�%����-� �p������%������%�����������", ��u"���"�%�-����%����'�Z

.Y��"��"� �"� �(�� ���"�� ��"��p� �(��" �"� %����p� �����-(����p� �� '� .wp� -'� qYn'� �������������� ",����� ���"�%�"�x"�%����( �� �����"jh��%"�"��� "��,�� u���%� �������-(����p� �� '� .�p� -'� qY�'

.n� �,�%'p�-'� qYn'

.w� ���-"�������p��(�������,������p� --'� n[*nwp� k�'

.k� �,�%'p� --'� �w*Z.'��� �,�%'p� --'� q�Z*q�['�q� ��"��x�"���+�p� �� %���+�� �u� ������+��� ��-"�(p� ������ ��� ���-"�+��������� �u

k���,��"�(p�qkZkp� �"�"���x��������"��(p�qkkZp�-'�wYt���������������$����"� �����u�����"��� "������rp�{��� " ��� �����%� ��� ������+��� ��-"�(p� �,�%'p� --'� w[*wY'�

�.� �� �"�������+�� ���%�� �'��� ��"%�"� �������+�"j���,� �+�(�p� ����-"�������� �� ����� ��%(�"� � �(�"� ��r�(��

��%���'�Z� �,�%'

�w

=</>37)?@88"37� A3/

!��������{"��,��{������������%���� ��"�%���������,�$"����-"��{"�����(�" ����� ��� ����������� ���� ��%�{���� ���� ���u-�� "�"������u�������"���"����"���������&�����������'�����"������u�����,������p��h��%"�p������-���,��p�{����" ��� ���� ��%�{���������������'�[ ����-"�p�{���,� "���"��"$����"������������ "$���u��r�(�"p� �������%�������%��$����%�" ���������,(� � � ���$�"�%������$�{�"-���'�����"� ��qkZ.����{"��" ���"������%�,(�������j��"-�p�,���"u������������������u��� "� ��"������������)"� ���u���,���( "�%� �����(�� p� � "�%�{���� � ���� �� -� �u� ��"�� ���,� �+�(�� ����� "�� "�����p�{����"%� ���� �����������������"��"%�������"����p���{"��" �{�%����$��u���'�Y

���-"�������%� �%�%����%����������� u�u� ������������� �,��"j���������$$ �'�!������-"���%���" ��p����{"��u�� �%������%��$��" ��$�-����%��u���%� " ����"�����p������%������$"����������$���u��������%��$����%�����$$ �'����{"���������� �&����qkZZ���"�����,�j "������(�" �������������i��� ��"$"��'�n ��������"������������{"��u� (���$"$�%������$"��r��$�����"���%���%��$����%�$���-���������(�� ���$���p��"�%���� � � ���$�{�"-����"�%�����-�����u�������������'

���&� (j��-���,���qkZZp���$������{������ �%(�(���� �(�� �+�(���h�� "�"��p������$"��r�%�"���" p�"���%�����'�u����������������u���������������,� "������(�" ���������--����$�������,� �r"������u��"���"��������������%���(p�{���{�������-��-�����"����$p�{���,���$� ���%� "�� ���� u����� ���- (� "�� "����� u�%%��'�w ���"--��v�j�"�� (� ���� �"��� ����p� ������$"��r�%��� ������%��$����%p�" ��${�����"������ �"�������� �$���-��$�p�,�$"��"�,��"%� "�-"�$���u�������"$"�����������"���"��-�-� "����p�{��������������������� � (%�-�������������������'���� ������" �������������p�����-"����$"j��r�%��� "$���� uj%�u�����$���-�p�"�%�"� ������j���� �$�� ������

�[� i'i'p� ����-"�� �����j���,� �+�(�*x����� �g� �"����" (� %�� ,����"u���p--'� qq*q�'

�Y� ��"�� ���,� ��(�p� ��� ,���� (������(�� ���� �-��"%�p�i��(�� �� �"��p� qw*.[�� ��,��p� qkk�p�-'� q�'������ �������� ��� ��u����%� ��� ����,�u���� ���%� ������ �u� ��(�"���" ���p� q�� ��-���,��p� qkkY'

�n��'�'�x��(� "�� � ���%���� ��-���+�(��p� ����-"�� ���,� �+�(�j������p� ��"���+�(��"�������(�p�i�'� ZY� ��[Y�p� qq�i����,��p� qk[Y'

�w����-"�������p����r�������r" �r"p�-'��.'

�k

u��������" �r��$���������(�"$����'�k �h(�������%��u���-���,���qkZZ��� ���"�%�%�"�$���-��u�n[�"���%�"�%���"���%����pZ� �{�� �p�"��"��-"�"���- "����������"��u����%����"���� ��-"�(� ���"�%�%,(������"�'�!������"�� ��-"�(��������p�"��"�� "����� �"%���{���"��"����u�����"���������� "��p�������-"�������"������,"�� ���"�%���.����-���,���{"��{���%�%�,(�"�$�"�"%�'Zq

���"�,�$�,"�� ��{����������������������� �"�"�x�������"p���.Z�� ��,��p����������� ����%���"�(�{���%�����,�����u������"�%�u����-���-������ ,� ���p� "u���� ��� -�����" (� %�����(�%� "� �������"��p������u��{�� ���������"��,"�� �'�����{���%��{����������������"�������{"��"�%"�$�����"�������"�%��{�� %��"������,��"�-��"��%'Z.

x�{����p� {����� �����$����� %�%� ���� " �{� ����� ��� �"--��'� �������������� �"%���u��������(�� ���$���p����u�"�p����Gu"���"�+��u������ "$���u�������(�(��"�%���������%� " ���%�� (p��h��%"�"�p�����"�x"�%����( �p�"�%"�$������u����� � " �-������u���������� "$��(,��( ��p�{������-�� �qkZn� �������%���� �%�������%����������,� "-����%�" ����,(���������(�p��-����%�%����(�$��%� "���u������"�%��� ��%�%�����"���$������u������"�%�� ��- ��� (�"�%���" ��$������ ��%�-"���" ('�x� -��$��������,"�� ��{"������-��"����"��"���������p�{����"� �%� u������ �"�"� ��$����"�%�{��� "���� u� � ��!������� �������� �(�"�'Z��!���� �������� {"�� ��"��u����%� ���������� �(�"p��h��%"�"��" �������� "����u�����%"�$������� "'ZZ

u��������,"�� �p�"� "�$��-"����u������"+��� ��-"�(�{"��%���,�j �r�%'Z[

��������%��u�i����,��p���"���$���$"���%��������" ��p���������� -�%������"��������� u%�u��������� �����������*�"���,���������� �������%%� (����������(�� ���$�����i"%�"�������� �%�(���"���'����� ��,���qkZZ�������{���������.���� ��$���-��������������"��'

�k����-"�������p��(�������,������p�-'�q�['Z�� h��%"��x��� ����" "��p� �����-(����p� �� '� .�p� -'� qY.'Zq����-"�������p����r�������r" �r"p�-'�qq�'Z.� �,�%'p� --'� Y�*nw'Z���"��"� �"� �(�� ���"�� ��"��� �uu���� ,���u� ��u���"����� ",���� ���u"� ��"�+��

����u�"�����������-(����p��� '�.wp�--'�YYp�w�p�w[p�k[t�",����� ���"�%�"�x"�%����( ���h��%"�"��p� �,�%'p� --'� w[p� q.Zt� "�%� ",���� ����-��"�p� �,�%'p� --'� Yqp� Yn*Ywp� q�nt���-"���� "���������� �������u�qw�-�� p�qkkkp���%����u��%������-��"��"���"��"����������p"�%� ��������%� ��"�� ���� %��%� "�� "� � i"%�"���� -��-"$"�%���� ��� ���� i"%�"�����������(�"�'

ZZ����-"�������p����r�������r" �r"p�-'�q[w'Z[� �,�%'p�-'� w.'

Z�

�������$"��r"����" �{����{"�� "����%����p�-���"�� (p�,(��(��"� ���%"���x���������p��"��� "�������� �������( " ���p�"�%�������'ZY

������,�$�����$��u��� ��,��p���������,"�����u�"�-�����" ��������p��������{"��$����� ���"�%��u�"��-� �" ������u�������-��-�����u��%%��$���������"����u�����(��� ����"$����'Zn

���������,�$�����$p����������"%�"�����%�"����(���,� ���" j�� p�"���������� u���%� "������������������Zwp�"�%�{"��"����(�" ����%�u��%����u�����-�-� "����' ����������%% ���u��"� �p�����"�%������(�����%���%�������� ����%"��������� "$���h�����(���"�p�"������(��������������������(p�{�� ������" ��- ����%����.q�-�� p�qkZ[�{����� -�u�����x���������"�%�����,�������'Zk

������������$��u����� ���"�%�����u������h���� ����(����j�� ��� �u� ����i"%�"���� ���� �%�(�� �"��� ��"�� ����� - " �� ��� kjq.�"(p�qkZ[p���������{"��"--�����%�����%���-��(��u������h�u������i"%�"���'���������u��u������h�{"���"�( ���"-+�"�������"-��'[�

���"����������{���������� ����- ��%����$������ ���&����qkZ[p��"�������� "$���u���,�"��� �"������"p���������{"��"$"���{���%�%p�����������������u" �p����"�����-�����p�������{"���(�[���� "��'[q

��"����� ���u�����-"�����"��� �"�" �����u��������p�����"$$���j������" �� ���u���� ��"��%� ��u � ���$�����"���������������%��$����% �"%�����-��u������(�� ���$���p��"�%�" ��� "������������������ �(�"p{�������������"�%����u��������" �� " ��� ��������������%��� ���������" ����������u���������� ������ %���'[. ����&���p�"��"����� ���u�"�����������%����"�%��$�p� "�%�" �$�%� ����,��%��"����p� �������{"��- " �%�,�u����������$"��r"����" ����,��" p�,���{"�� �"��%��u" �" ��"������"�%�-���������'

�����-���,��p����������{"����"���$��%����i"%�"�����h���(%������������ �(�"�{���������"����u������$������$������������������"���������('������"�� ��$������������ �(�"����"$"����� ����%�"��"�%�{���%'[�

ZY� �,�%'p�-'� kq'Zn�����������p��-��(�(� �������������������"g��������"��"��( ��(�����%�(����

�� �������� �� ��"����"�p� qkZZ*qkZw'����� �p� ��� �,��(�p� qk[�p� --'� �Y*[�'Zw� ���-"�������p����r� ������ r" �r"p�-'� ��t�����������p�--'� �n*[�'Zk�����������p� --'� Z[*Zn'[�����-"�������p����r�������r" �r"p�-'�qZZt�����������p�-'�Zw'[q����-"�������p����r�������r" �r"p�-'�q.Z'[.� ���� ��u � ��� {���� ��������"�%��� �u� �������" �� " � �� ���� �������� "��

�����%�"��,(�����������������������'����-"�������p��(�������,������p�-'�q��t���"�� ��"�" ������������ ����� ��������������'� �����-(����p��� '�.wp�-'�q�n'

[�����-"�������p����r�������r" �r"p�-'�q[w'

Zq

i"%�"���� �"%��� ����( ��� "--�����%����� ���-����, �� u���� ��"�(�"uu"���� ��������%��"���������"������"�������$����{��������"����u���$"��r��$����� � " �-��- �������"��� ��"�(�����'�x�" ��- ����%����� �"����� ���u� (�"�%� ���"� ������ �������$"j��r�%�"�������u���Y����p�"� "�" �(�- "������u�Z[�������p�"����"%�u��� ��"�(��� � �p�"�%����� "����'[Z ������ ��-"�(p�{�� ��{"�-"��� �u� ���� ������ �h"��" ����p� ���"�%�%� ,(� �����p� � �"%� " �%��j[p�"�%� "����k["'[[ �������� "���u" ��u�qkZ[p����'���(���x�(��"��������,(������p�{������-� ��%��� ��"�(������������"�����j�"��p�" ���{ �%$�%�������" ��- ����������u������������(�-���j���� ('[Y

���qkZ[*Zn����������������(���������� (��--���%�����%�j-���"����� �u� ������"���"�� -�-� "����'� ��� ��"�� " ����� ������+�� ��-"�(�{"�������u� ���������" ����'����.w��"� �p�qkZn� ���"�"�,���� ��"�� ���� �� "$�� �u� ����"p� ���� - "����� �u� ���� ��-"�( ���"�%�%�,(��x�"�+���� �%������� ������ �j����������u���u����p���'��"�� ��{��� r�{���'���������,� "���"� �$��%�{�������$��{������",��������"�%�����u"����� ��-"�(�{�� ���{"�� ��-���%������� (�u����� � " �������'[n

[Z� ���-"���� "��p� �����h���(%��p� �������� �(�"p� �i�'��p���"���p�-'� ...'[[� �����-(����p� �� '� q�p� -'� Z�'[Y��'�'� x��(� "�� ���%���� ��-���+�(�p� ����-"�� ���,� �+�(�j]�����+�p� ��"����(�

�"�������(�p�i�'� Zn� ��[n�p� qw�i����,��p� qk[Y'[n���� ��-�������u� �����,"�� ��� �u� �������-"�(� ���"�%�%�,(� �������� "��,�

u���%� ��� )����" � �����,��(��� ���-���,��ji����,��p�qk[.p�"�%��"� ��qk[�'� ���������������� ����� q��� ����������� ��"�� ���� ����� {"�� ��$"$�%� ��� %����$� qkZY*qkZn'���-"�������p��(�������,������p�--'�wnp�q�['������"� ���$����$��u�������+������j-"�(� "��,��u���%���������-(����p��� '�.[p�--'�.[p��nZ'������")�����$"$��������u������� ��"�(� ����� {���� "�� u� �{�g� q�� &"��"�(p� qkZYp� %�����(�%� ���� �"� ��"%� ��"�����" �r�r��"t� ..� &"��"�(� "� ,"�� �� {���� ���� �� ���� ��(� ��� ���� �� "$�� �"�"%�"����������"t�qY���,��"�(�"�,"�� ��{���������� ������(�,��{������ "$����u���������"�%� ���"r��{���� ��"�(� �� ���� �����t� .[� ��,��"�(� %�����(�%� ���� �"���"%� ��"����� �������t�.Y���,��"�(�"�,"�� ��{������ ������(������ "$���� (���"t�q���"� ��"�,"�� �{���� �� ������(� ��� �� "$�� �� ���"�{���� ��"�(� �� ���� ������ "�%� �� (� ���������{���%�%� ��� ���� ��-"�(t� q.��"� �� %�����(�%� �����" � ,��%$��� ��� ���� �"� ��"%� ���,��{���� �"����"� "�%� ��-���p� %��� ����%� �"� ��"%� ��" ��p� "�%� �� �-����� ����t.���"� �� "� �� ���u� � "��" �� ��� ���� �� ������(� �" �� " � �� ����x�"%��"������ ���"�� ��p� ��"�� ��"����{���� ���(� ��"�(� ������ u��� ���� �� ��t� ���� �"��� %"(p� .���"� �"��" ��%��� ������(� ����(� ��p� ���� ���$� �����"�(��� ���� ������ "�%� ���� �����"�� �u���� ����(t� .���"� �� "��" �� ��� ���� �� ������(� ��� �� "$�� �"%���(���� {���� ��"�(�� ���� ������"�%����������"���u������� ��������-���t�.Z��"� ��"��" �����������{���uh��������"�%�%����� ������u�"%�������"�����,� %��$�'������� ������(�����������"��%

Z.

u��������u�� �, �������" ��u�������"���"��-�-� "����p����.k�&���p��qkZnp����"�������� "$����"��(p���������" ��$�{������� ��-"����� �����%� ����� ���� �� ���j������� ,��%��� ���������,( ����$���p�{��������{"��)�(u� (�$�����%�,(����� � " $����� "�'[w

������ ���u� � ������$��u�����,��%���%�����,�%��������� ��"����������'���������u��u� ���� ������" ���� ����u� ������h����p���'���'�h���"�p� ����%�"�� (��������������u��u������-��"����" ����������u�������" ���� ����u�������h��u�������"���"������$p�� '����,����p���������,( ����$����u���"��-� �" ��������$"�����"�%u��� �������$"����� �u� �{�� �� %����� u���� �h���� ��-"�(p� �������'�����(�� ������,���+���"�%��%�����'���� �(��(�� ��� (���p�{��{���� "-����%�,(�������h'[k ��%����������$"����p������{��-�����j��������" �%���"�������������"�� �����%�����,��%������,���%�q.�

�����"���t�.Y��"� ����������"�%���(�������������$"$�%����,"�� ���� ������(�h"��" j���� ��� �� "$��� �u� �(�� �"�(p� �� �"���p� ��r������p� "�%������'� ���� �� ���� ��( ���� Z�� �� �%p� �.� {���%�%� "�%� �n� �"���� -�������t� ����"� �� ��� ���� ���� "�$�����$"$����������������� �(�"p����{�� ���� ����"��"�����{"�����%p���������-"������u�������p���(����p��h����"�%����"����u��$����{���� ������(�%������������������ "$���u�����%����� (���"�%�����������"�,"�� ����"�� "���%��������%"('������� ������%���"%w���� �%�"�%�������n��� �%�"�%�q.�{���%�%t�����"(����������"%������" �,"�� ��{���������� ������(p������(,(�����u������p������ "$��x� ��(���"p�"�%������ ���"�"�%�"�����t� .Z� &� (� �������� "����%� ���� "� �� ���u� � "�,���� ��� ���� ������ �u� ���� w��

����������u��� ������(���"���� "$��h���r�����+p����.w��$����"��" ��%�������(�"p���Z���-���,����"%�"� ��������� ��� �� "$����-���"p����q��� ��,��� "��" ��%��� "$��� ��"� "�%� ��� .��� ��,��� ��$������ {���� ���"���� %�����(�%� �� ���� $"�������� ��� �� j "$��� ������� "�%�i�,��� �"�(p� ��� ��"���� ��$���t� .� �� ��,��p� qkZY� ������ %�j����(�%� w� �"� ��"%� ,��%$��� � "�%� ��" ��� "��{� � "�� �� �-�-��� ����� ,��{���� �"�����""�%����"� �"'�������$�����{��������������%� �%�%�����-��"���,(�- "�������r�������p"�%��"%����������������� �"��(����"p��� �"�������"p�i����� �(p���r���(p��"�+�"��(p�"��"��(���"p� �����(���"p� �"����(�p���������'���� qw��"� �p� qkZn� ������ �u� �������"�%� ���"���� �"%� "� ��$� %"(� ,"�� �� {���� �{�� h"��" ����� �u� ���� �� ���� ��(p� ��"��"�� �����"p��������p�"�%���r���%r��������������$���p�"�%����.w��"� �p����"��"�,���,��{����h" (����%�"�%�����"��� �%������� ������ �j����������u���u����p�$��'��"�� �{��� r�{���� "�%� �����" � �������{��� ��"�� �%�{���� ���'

[w��'�'x��(� "�� ���%���� ��-���+�(��p� ����-"�� ���,� �+�(�j+�����+�p� ��"���+�(��"�������(�p�i�'� Zn� ��[n�p� qw�i����,��p� qk[Yt� ���-"�������p� �(����� �� ,������p-'� q�t� ��"�� ��"�p� �����-(����p� �� '� .wp� --'� qYY*qYn'

[k�i" �" �������������������������h�����r"����������" �������"�������"���� ��h���"�p��"r"���"p� �"�-���"r�����"�-���-��"�����j� �r��,����� ��-� r��"����� �"��������������$"p�%��������"���-����%���(���,����(����-��"����"������(-� ��������"r"����� �"�-���"r�����'� �� �� kp� �'� .p� u'� Zwwp� �-'� qp� "��'� qj��p� ��� ���� ������ &'� ���� ��()�� � �������� �����$�� (�"�%��������j�����$�� (� �����"���p���������(��u����������,�"�('

Z�

���� "�%� ������ ���"�%���p� �h���p� �������p� "�%� ���"���'Y� ��"��-� �" ��"��p�"�%���������-� �u� ���%����u����'��")'�����������p����u� �u� ������h� u��� �����,( �� �, "��p� �� '� ��,����� {"�� ��%����������u�"�(��u����� "-����%��� %�����{����-"��� �-"������������ ��$��u��� �������'��� '��'��{��� r�{���'Yq �u�����������$"���$�"�� %�����u�������+��� ��-"�(p��(��"� ��'�����" ������"���p�{��{"�� "-����%� ���"��"�,�������k�&� (p�qkZnp���,����� u���%����p�� ���� � (p� ��"�� ���� ������� ����� ����� -"��� ��� "�� "�,���� ���{��� r�{���'Y. ��%"(� "���p��{������ %�������(���������"���(����������"�%���%����'�� (����� ",(����������%���%�"�%�{�����������j$"��%��������"'Y� ��������u���"�����%�%�����-���������������"�%������{ (�"�����%������$����p�" ,����{��������� �����p���� ���������-��j����$���h���������"��{��������{��"$"���������'

i��� ��$�"u���p����q[��$���p�qkZnp���"�������� "$���%���"�"��� +p����������"��u����%� ���"�%��u��������-"�(�������"���p�"�%��������������"�%��u��������" �� " ��� ���j.Zp���"����"�'������"-j-���������{"���"%��-�����" (�,(��")'��(�� "�����%��� �,���x�����p����"�%����u������� ��"�(������� ���������"������"���x���� �"�'

�����-���,��p� �"�� ����������$��u� ���������"� �"%�����-��u�����,( �����$���p���������{"��%� ��"��%�,(������� %�������u���� ��"�(��" ���������� "��'YZ �x��" ����� ����%�"�%�����$�����%����������� "����%��� �u����'� �'����-�(��"p�����"�%��j��j����u� �u� ����'Y[

��� qkZw*Zkp� {�� �� ��� ���"�%� �u� ���� �" �� " � �� ���� �� �������%����%��� ����������$$ ����������,( �����$���'�x�{����p���qkZw����{"��" ��"%(�u�� �%����%���,� �r��" ��������-"����t���-"�(� k�� ��� .Z� &� (p� "�%� ���-"�(� k["p� ���� ����� ��"�

Y�� �,�%'p� "��'� qj.t� �������$"����� -���� � �p� "��'� .k*�q'Yq� �,�%'p�"��'�q'Y.� �,�%'p� �-�"��"p� "��'� �.'Y�� �,�%'p� �-�"��"p� "��'� �['YZ� ����"���"�x��� r� .[� ���-��"� qkZn� �'p� �����-(����p� �� '� kp� --'� �n�*�nqt

���-"�������p��(�������,������p�-'�q�t���"����(����+�(������"%�������-����%���"��"���"���"����������������{"��" ���-������%���������"����u��")��p�,������������� ���� �'��"����(����+�(�p� ����,� �+�(�j������p� �� �"����������(p�i�'� Zp� .k� �� ���"p� qkk[t� �������-(����p��� '�qZp�-'�Y�p����"�������,��$�"-�(��u���������������" �����"��%���"�����"%� ���� �"��� �u��")��'� �u�����"�� (� ������ "��� ��� %� �����"�(� ���%�� �� ��� ��-j-��������� "��'������������������-��,", (�{�� %��"�����������%������������������'

Y[���+�"����(��i"�"r�x� ����������"�%(�"���r�qZ�r������"p�qkZn��'p������-(���p� �� '� kp� -'� �n�'

ZZ

" ��-"���%������������"���p�����q����-���,��'������u" �p��"�{� �"����"�(� ��������������{��$���-p�����.q���-���,��p�qkZw�"�{�� �� � ����� �����"�"�� "�%� ����� �u� ���� ������ �j{������� {����� �%�������"���,����"��������, �{�������'YY ������-���,���qkZkp,(���%���i�'�.p� ��u����'����-�(��"p��" ��v�����$���u���"j������{����%���,� �r�%'����{"��{�����"�$���-��u�����%���,� �r�%���-"�(��h"��������"����������,�$"��������%���������!���'Yn

�����q�� ��,��p� qkZkp� ���� ����� �u� ���� "��� ��-���� "�����j�"�%��� �u� �" �� " � �� ���� ��� ����"�%��� �u��� ��"�(� ������ ��x���� �"�p���{"�%��������{"�������{���u��������'�x����� �����j%"������u���-����������u������������$���-��u�i����"�%��uu� ���p�"�(��u�{����{������� ��$���" ���p����� %�,�����{�%�"������%���������������������{������"���%�"��������-��������������%'Yw � �����"������� "���p��u"��u������"���p����� "�%���"����� ���%����%�"� (p������ ��"�(�"�%����� �����"�(�-"��� "������"����%'

#B-/"7C8#� =@<//"DD3� E3:0":8

��������{"�����{��"�������u����������" ������� ���"�%j���'�x�� ������ ��"(�%� ��� ���� - " �� ���� ��$� "�%� ���� ������{���" {"(��-������$�"$$��������"�%��uu�������$�" �'��������,������(������,������������"�������������������$�-������",���������$����� "�" �� '�x�� " ��� %�� ��,��� ������ ��{� ��� ��$"��r�%� �������-"�(��%������(� ��- �v� ��%������'

����������u" ��u�qkZ[�����"(p�qkZnp��(��{�����-"������"%"--��v��"�� (�q���,"�� ��p������������"�%�"�,�����'������$���"������Zq��� %�����{������ �%p�"���$������.�� "����� �"%����"�%Y�i�� ����*����"���%��%p��"�%�Z�{���%�%�{���{���� "-����%�,(��������('����������-"������"%� ������"���" u��u������-��"����" " ����������u�����$���-�,�����"� (������"������,����u� "��" ����'x�{����p�����"(�"�%�&���p�qkZnp�%����$��� ��� ����u�$����$p�{�� �����"� (������"������,����u��� %�����'Yk

��������" �����������%���"���" ���u�����" ������{"������ �j ��� (�- "���%������"�����{�� %��"��������� (�"��� ��"�(p�,���" ���"

YY� x��� ��-����� "�� ����"�%��� �u� ��j.Z� ��"����"�� "�� ,�� u���%� ��� �����-(���p� �� '� qwp� --'� q[q*.k�'

Yn� �,�%'p� --'� q.p� .�'Yw� �,�%'p� --'� .[Y*.ww'Yk����-"�������p��(�������,������p�-'�q�['

Z[

-� ��� " �"�%�-��-"$"�%"���$��u� "� �'�x�{����p�"�����-������p����������� -����, �� ��� u�$���{������� �" ��u� �� "�%�, ��%'�h��� �� ����%� ���"����������"����������(��"%�,�$$��� "��" ����p��,� "����u���������������-����"�����"�$���������-�{��'���������(��"%�.�������������� �%p�{���%�%�"�%� "-����%���"����'���������-�����,"�� ��"�%����� "��" ����p�{���"%������� %������ �%�u����" ��" ����'��������{�p���"������ "��" �����{������ "���� (���" �'n�

��������-�����p�������������-���"���� ������{�� ��� �����,j����� ��� �� ���(� ��� ��� �"��� �����"����� ����� ���+�� �"�%�'� ���������� ���u� �"--��" �������� �� ������(�,"�� ��- "���"��"%��u�����,(�$���$������"��" �'��� ��"��� %���� �"�����������"{"(�u�������u�� %��u�,"�� �p�������%�uu� � ������"�����������" �'�x�������,�� ��j��� �%���"��"��"��" ���������,����%�u�����'nq

��������� ���u�����,"�� �����%��������%�,(�����"��p����+��-���j����p�{����������u�����"�%���{�-�� ��� (p�������"��������"����� �%"�%�{���%�%��� %����������������(+���"��������%�"�� ('�����,"�� �" ����%�-��%����� "�$����"������������",� �������u�����i�� ���'����,"�� �����$��"� (�"�%�%�,(���������u��� ��(�p����$��$�"�%�%���j����� ��������%��� ��%�"����������('���� ����� ���"�(�����������,������������������"�������,"�� ��"�%�����{�"����������u��� ��"���$� � �%���" ������"�����p�{�������(�"--�"�����,�������"���$p��" �{j��$����������$������������%�����(���������(�u��������u "���'����%������$����-�{��p�����-��"�%����� ��� ����������������,"�� ��$���-{��������������"��" ������������,��"������$��'

������������� ���� ���"�%���{"��" {"(���������u����� ������j$������{������ %����'�x������ %����" (�,����"������{�"�����- "j����'����"� "���{��������,"�� ����� ��- �vp���������������u�����������"��� "$�p����� ���"�%������� %� ������"�-��������u����{�� ���� "��,�����"���"��� ���" ��{���������-��"���$�������"�%��������,(�"�������$��������������� u��������-��$������u�����,"�� ��'n.

����� ���"�%������"���� �����"�%��� ���p�"�%�������"�����������������'�x��%��� ����" ������������p������� ��"�(�����p�{���������� %�,�$��p�{�������u" ��� ���p�{���������"���"$"��p������ (���-����%��" ��-"������p�"�%�{�� ���u��������� �"������� %�����'x������ %�����u��$���",�����������$���u�����,"�� �p������" ����

n�� �,�%'p� -'� q�['nq� �,�%'p� -'� q�q'n.� �,�%'p� -'� q�.'

ZY

$������������� ���� "�� ����'��{� j- " �%��" �����$��� "�����-"����u"���(�"��" ��,(�����u "���"�%� ����ju���'��{� � "���u "$�%�" �����$���-���� ��%�,(�,�� %����"�%��� ���{�� %�������" �{"����u"���(�"�������" ����+��-�������'������%������%�����(�"��" ����$�����������(������,���$������" �����$����"�%��� ���� "�� ���� ����p�{�� ��u����������" (���"���,�$� �����p���������� ���u�{�� � "������������-���u�,"�� ������ �{�'n�

������$�����,"�� �p����� ���"�%������� %��������{�"�(���$��u�"�v���('�x�������,�� � %�, ��%�%p����������"$���"�%����� %�"������� ��������� (p��"���$���� ���u����� �"�$��$�����"������u����,"�� �'�x�������,��%� �����p������"�����"�%�"�����������p�"���%��$"�(����%��u� �����- " ��-"�����'����� ���"�%���{���%��������"��� ���� ���" � u"���� � �u� ���� �� %����� ���� %����� ,�� ���"�%��$�����'nZ

� ��������������������-"�(� ���"�%���p��������p�u���"�������" �� " ���"����p� ���%�����-��"���{������" ��������'��� ��" �� ��%��� �-�%�����u�� ��$��u���%�-��%�� ��"�%��� u� ��u�%�� ����� "����� �"%���'�����{���p���" ���$���-���"%�"�,������",� ��(���u��%������� ���'�����������"������"������" ���%���%�%��������-"�(�������" ���$���-��,� "����%����$�-�������,(�"������(p����" �������� "���"�������������"�� (p����%�������� ����"�%�,��"�����u������ �� �����p� �"�%�" ���u�������" ��� ��up� �,(�%�"{��$��������(��uu�'n[

������������ �(�"p��{���"%��������" �� �g��"�%�"�%�"��" ��*�(� �{�� �" �� p� %�u�������*� "� �" �� � �u� ��'� �h���p� "�%� %�u����j"��" ��*�"��" �� ��u���'����%(���"�%���'��h��%( ��'nY �� �������" �� ��{������ ���"�(�"�����(� ��- ������%��" ��������'nn

������������ �(�"���������(� �� %����������"����%��"-�% (p�� � "�������u�� ����������u� (��� �"��r�%�� ������'����{"��%�uu�j � ��u����������,���$��������"��� ��(p��� ���� "�� ������������"��"j����'�x��{"��u�� �%��������"���u �p�"����"�� ���u �����"��" �����$��'!��������{�� ���� ���� "%�"� ��$� � ���� u����{� j ������ -���j�����p����{"��u�� �%�����"����-�,"�� ��-��������'�����"�������{�

n�� �,�%'p� -'� q�.'nZ� �,�%'p� -'� q�.'n[� �,�%'p� -'� q�Z'nY� �,�%'p� -'� q�.'nn� �,�%'p� -'� q��'

Zn

����%����"�%�uu������ � "�����"�%� �����%�����-"���{������u"���(�����'����������p����������$���{��{����", ����� ������� ��"� "�$�%���"� ����"����������(�-������$����{"��u�� �%����$�����-��" uj{"(�,� "�����u�u����,�����!��{����", �����������������(����$��%u���p��{�� �������� %����� ����$�u��������,"��" ���u� ���� - ���'������{�����"�(�����"� �����"����������(��� %�����{����u����,��j����"�%����- (���u���%����-���������'nw

����������%������%����(�{� ��������%������ �������--����u�������-�-� "����p�,� "����$��%��� "������{���� � " ����",��"����$�"�j"����%��� ���'����" {"(����%�"����%�����"���"��� ���" ��{��������"����'���������p�����-�-� "����� ���%����"�%���--����%�������" ("�%��"����" (p�{����u��%p���%� ���p�,"�%"$��p���%��{�"�p� ���j��$p�"����������p�"�%��������-���"�� (p�,(�-����%��$����� �$�� �'����-�-� "����+�������������p�"�%�" ���-�-� "���(�"���$�����������p�"%�"�-����������u ��� ������� %����p��"�%�,���$����� �������,"�� ��'�����$�����,"�� �p�����-�-� "�����{�� %�,���$��� ���������{���%�%p,"�%"$��p�"���������p��{�� ����-����%�%������$��� ���"$�����u��������� %����'������(�� up��������%������ -�����-�-� "��������"�({"(��� �� %'���%�����,���%��� "-����%� �{�p�������p�"�%� �����$�������p��"�%�����%�����"����������� �����u�����- ��%����$��u�������j��(�'nk

����{"�����(�%�uu� � ������� �����������'�����������{"�����%��������� "$�p�"�%�{"��%�������u� '�h����� ��������{������,�%(p,�$������� �������p����{� �u� �{���������������u���'���u�������{�������������� "$��p�� " �%�������$�p���"%��������"����" (� ��j� �����,(��� ��$��������"�����(�{����"�u"�����-��� � (����,�p����"���������(�{"���%��������{����������u�����������"����� "�%�"�%��"�����(����� %�%�u��%������� ����{����{�"-���'���"����%�%������u����������p�u����" �p�{�%%��$�'��� ������%����������$���u�p� ��- "����p%�������"�%���������'�����p���,���$������" ��������-����p��������%����"����-�"����"�%��������������� uj%�u��������,�$"���� ������$�� (�{������u� ����"������-�-� "�����{"������(���%��������%�����,���$� ������� ����(� ��%���(� � �$"��{"�p� � �{��{� � %�u��%� ����� "$�������� (� "u���� �����" ��������%�%� �� ,�$��� ��� �" �� ",���%�u��%��$� ���� ������� ��������(� �u� �������� �(�"'� u���{"�%�p� � �

nw� �,�%'p� -'� q��'nk� �,�%'p� --'� q��*q�Z'

Zw

,��"%���%�������-� ��� " �����r��������"����"��"�{�� �p���"���$�"������"��� $�" � �u� ���� ����$$ �p� ���� ��"�����%� "�%� ����(� �u� ��� "�%��'w�

��� "{���� ��� ���� ������� ���� -��%�� ��"�� ���(�{���� ���� u�������������-"�(�"�%���"��{��{�� %��� -��"u�$�"�%�������"%�������u��������"� �"���-�, � '�!�����(��������� %��������"%��"�������������u������ �"%����u��������"� �"���-�, � p��{������"�����%������� " '������ %��"�p�{������"�����������(��p���"���%����u������������"�%�{����"�����, ��$��"�%�, ����%������������� %����p�� " ��$�-�����������u�$���u�����"����'wq

F/.>.0".78� 37G� H<:./30".78

����� ��$��v ��-��u����������������{"���� ���"�(������%��������{���"������" ������{�����������- (���u �v������� ��%���%�" ���� p"���%�"��-�����" ��"���u" ��������u"��p�,���"�{� �����$��������" �� �u�"�$��%�$����� "� �"%��'��������������-�����$p������u���p���"���"���$������%�������"��"�����"��w. ���p����"��� "���� (�����������p�,� "��"����-"�(� ���"�%��p�"�%� "����"�����%�����"�%��u�������" �� " � �� ���'���������p� ������{���� ,"�� �� -���������� "�%� ���-�"�������"� ��{"�%� u��� �������"uu�%������ �����"%��"�����'�x��{"�,���$�-������%�%��-����" ����%���u� ��u � ���{������$���� ���"�%p,� "����"����"�� ��"��-������p����{"���"�,�� �"��� ���"�%��p�u� ��u���-�����p�"������������$�-������*�"�, ��%��u��� %����"�%�-����'w�

h"��%����%� �������u������"�����"�%���%�����u��j!���p��������{"�������"��%���������"����u���"���(��h� "��(����"�������$�"�������q��"� �p�qkZY�{����q�&"��"�(p�qkZY�"������%"����u-��������'wZ �����������"�����{"�� ��u����%�,(�����x���w[ �"�%-���� $"��%� ��� ������ ��"�(������� �� ���"��'wY �����������������$�������p���"������ ����������p�"�� "��,�������u����������%����u��j�"���%p� ���"��p�i�'�[sZYp� �������p� ����� ����$��" ��"%(� ��� ��j�"�%� �u� "����-"�(p� �������%� ��� �"��� ���� �"��� �u� "� ����"��'

w�� �,�%'p� -'� q.k'wq� �,�%'p� -'� q.k'w.����-"�������p����r�������r" �r"p�-'�qZw'w�� ��"�� ��"�p� �����-(����p� �� '� .wp� -'� qYn'wZ���%����� �x�p�i�'� �sZY'w[���%��� �u��j!���p� ��"����p�i�'� qw� �u� q��"� �p� qkZY'wY� ��%��� �u� �j!���p� ���"��p� i�'� [sZY� u���� .q�i����,��p� qkZY� ��$��%� ,(

����"�%��� �� ���� "�%� ��������uj�uj��"uu� ���,����(��'

Zk

wn��j�"���%p� ��"����p� qkZYp� ���x���p�i����"����� "�%��� ��"�����'ww���%����u��j����%p� ��"����p�i�'� qkp� u����q� &���p� qkZY'wk���%��� �u��j�"���%p� ���"��p�i�'YsqsZn� u���� ..� &"��"�(p� qkZn'k�����-"�������p��(�������,������p�-'q�'kq� ������ ��%� p� #%'p� �����-(����p� �� '� qwp� -'� q[.'k.� �,�%'p� -'� �Z�'k�� ��"�� ��(����+�(�p� ����,� �+�(�j������p� �� �"��� �������(p����� �p� i�'� Zp

.k� &"��"�(p� qkk['kZ� �����-(����p� �� '� qZp� -'� Y�'k[����-"�������p��(�������,������p�-'�qq'

�����u����������� "���p� ���&���p�qkZY����{"�������"��%��������"��� �u�������r�(�� ��� ��%� �������"���� {���� ���� �"��� %"��� �u-���������"��-������� ('wn ��������������{"��-������%�����������j"��� {���� ���� %"��� �u� -��������� ..� &"��"�(p� qkZYpww �{�� ���{"�-���� $"��%����&"��"�(p�qkZn'wk ������-���,��p�qkZn����{"����� ��������"����u��������"��'k�

�������������{��{�������{"��-������%�����"-�"��p�,��������"������$�����,(��")'���������%� p�#%������u������� ����",����������� ��"�(������� ���x���� �"�p����{�� ��{"����,��%��"��%��� �j�"�(� �� ���j.Zp� ��"����"�p� {�� �� ,(� ����� {"�� ���"�%�%� ,(�������'kq �������������%��,����"���������(�"���qkZn*qkZkp�"��"����"�%����u��������" �� " ��� ���p����{"��-������%��������"����u��"-�"���,� "����������-�����"�%���%����"���" ���$��%��"-j�"��� �������'k. �����p���{����p� ������"����(����+�(�p������ "����"����������{"��-������%���������"����u��")���"�����������{������{"��%� ��"��%�,(� ������ %��������� �u��� ��"�(��" ���������� "��p�,������������� ��� (�,� "������������%��������������������������������'k� ����������" ���"���%�����" ���������������������-(���p��� '�qZp���"������������ %������"����u��")��p�,���������� ����$�����u����������"������'kZ ������������� (�-����, ����"�����{"��-��j����%���������"����u��")���-��������� (p�,����������",��� ���u�� �", ��%� �����������������������������"����-��'

u�����������%������"�������.k�&���p�qkZnp�"�%���� ����{���������%��� �u�x�����u� q[��$���p� qkZnp� � ��� ���� u������ ��"�� ����� "$����"�"��� p�����������"��u����%� ���"�%��u��������-"�(������"���p� "�%� "�����%� ���"�%� �u� �������" �� " � �� ���j.Zp��"����"�'k[ ��������%�����u�����"�� (� �� %�����,�� � "��%'

���� �������� �����{"�� "� )�(u� �������'�x�� �� "���� ��� ��� ���u� �{��$��"����g������������$�{�������� �"%���i'�'�{"���"���$

[�

- " �����"�u����% (�"����-����'�����"����������v-����� �%������u������ ����������������(� �u�'������$�����������$� �"%���i'���"%������"����%����u�����x����",���������� �����u�����x���{�� ���"��%g� ����� ���"$�p� ��������"�%�,�"���(� ��� ���"�%��$���������������"��������������%� ��"��%�,(������� %����������u��� �j�"�(��" ���� ������� "���'kY ����"%%�����p����"��-� �" ���%����u��������-���������"�%���p���������{"����������%�"���$�%�����j$�����%��� ���"�%���'kn ���������� %�" ���,����$"�%�%�"��"���-���"�����{"�%�u����������'

H<30-

��������"�%����u� �������" �� " ��� ���j.Zp� ��"����"�p�"-�"������-"�����,� �+�(�����������p������� �-������u�������$������ %� ��"����p� ������ %������� �u��� ��"�(��" ���� ������� "��p%��%����k�i����,��p�qkZk�,��{����.�"�%���-'�'����"���������p����r� ��j� ��"��"���"�� ������ "$���u���$��r� � ����"��i"-")�% �p�����Y[���'��"����u�h���'��(��$�����"�%�����p������"� ���kw �x�� "��� ���"�%�{"�� "����%����p�"�%���$������{��������%� ������u����������x���������$����-������"������u����"���"����-������,��"��������� � �p��{�� ����{����,���$� "����%�u������������ �j����"�(���"%�����-������"���p������ ��������,���$���{���������" �������(-�� ��-�� �-�����u�������������������{�� ��"���,���$�-�,j ����%����������� ���'�x�����,����%����$�"���i�'�[p��"������ ������(��"�������� "$�� ��� �'kk

���

!��"���$�"��u� � ��� �������,� �+�(���"�� (p� "�%� ���h��%"����,� �+�(������%"������u���u��"� ��$�������� ���'�����"����" ����"��%����-"�+�� �������u����)"� p�"�%���-- ��%����%�%�-����$�"-��'��"%�"����,� �+�(��-����%�%��� -�{������u���"�����"�%��"����" �",�����"-�"����������'�����" ����� -�%����-��-"���$�"����������

kY��,�%'p�-'�q�t�����"���"�x���r�.[����-��"p�qkZnp�����-(���p��� '�kp�--'��n�*�nq'kn� ���"����(��i"�"r�x� ����������"�%(�"��� �u� qZ�� ��,��p� qkZnp� �����-(�

��p� �� '� kp� -'� �n�'kw���������u��"�( ���%r(�� ��� '���'� ��������� ����� �"�������p� ������+���%"�$����

u���� q�� &���p� qkkq'kk� ������ ��u���"������ ���� u������'� ��"%�"� �������+�"j���,� �+�(�p� ��$�����

{���� ����%�"$�"���u� ����,���" '

����,�����u���������"�%������%�"��"� ���� �"����������{�����$��u���� �����%� ����'���'���%���� ��-� �()� ��x��(� "���p���'� ���-"��� "������"���p�"�%���'���(-��(�"���������"��p�" ��u�{����������%���i"%�"�����h���(%�p����{���������-�����" (p��"�%�{����", ������-- (� ��-���"��� %��"� �� ",���� ���� " ��������� ��� �������� �(�"p{"��"���������"���'����������%� �����"�%�#�$ ��������"�����{���-��-"��%�,(������%������u�������� ����"�%����" ����������-����, �u���" �������'���'��'��� (��"�%�����%�������"������u����������-(���� " ��� �� -�%� ��� ���� ��-� "����� �u� ����� ,���� �u��������'���(�" ����������� ������"���'

6789:;�6:8*<=>?@

[.

� "T��� ����U �

� #*���"�� I��"�� ����&��� ����J#4EGNLC�AB�C'�PJ@?U�F�oeCOGB��

A/ �*����&���*�����*�/B������%����)CA/ �*����&���*����&��������) �*0CD�����&����(�����*�0����B�)B������)�D�����&����%��(� /B�)����+��&� �

E�&0��������,��/B� �&0���0 �,�+�E�&�,������� �*0 &�.)/�*���/�*���/� ��'��/���%���* ��*& ���+ ����+/A &�(��* ��'��F,�%��'*����

G������&*��)���F����0��������&*� ������/���� ��� ���0��&���%����C���F(��*���% �*&/���0*&&*��*��&��&*����*�&*� ����(�'������� ���H

I����� �����&*� �,�/��,������/���&*���� ���/� ���&�&���*%0���*HA/J�'�C������%/��*0�.. ���� &��* �����&���������** ���0���&*��

����������K���,��� ���

:IUj<GDE@�CDEGBp�6LCLKLp�|?FEGCI�qk[.

�<GDC?U� qk[.� B?Oe� NBJS�RL� F�DEOL� K?� 6LCLKJp� }?� F� RJDE?NLK�qkZk� B?Oe� TLQJCeF� O?@LCKJB� 528p� 4EGNLC�AB�C� �4EGoGRIDIOJS�'

5�|?FEC�� qk[.� B?Oe� N?@GBRL� CL� LELO� DGBM\� S?Q?� @LEJp� cRG?C?BL6?MLCj4EGoGRIDIOL'

[Z

���&��� ������� �����K���� ����&�&���

��&������L� ����� J��������,��� ���%� ���,��/ ,��0��� �"MN

!���� ������� �����$������ ��%��)����&�&�� ��&������L� ����� J�����

���,��� ���%� ���,��/ ,��0��� �"MN

����� L����� � � � M����&�� �� ����� ��� ������ ��� O��� 0 �""P ��

[[

K���� ����&�&���� � ���� ���N����� � �����&����� ���&��

J��0��� �"�#

O���� ��� K���� ����&�&������� ��N���� $�����

[Y

!�����&�� '���� ����������&�&���� ���,*�/ �"M�

����" �&�"� ���%P����� �������"� �������� ��L"� "� ���%P ���,*�/ �"MN����1�% 0�*&�

������ ���,��� ���%

������ ����&�&��� �����" �&���������"

[n

����� "� ����� ����&�&�"� �� ����%�� !�Q������ !����� ������0�*&��������/ Q����/L�)�%��L���0/E����*�/

��0���� Q&����!���� * J���������,*�/ �"MP

����� R����� "� ���������&�&�"

���,*�/ ,��0��� �"MN

G� 4������/ �*&���(/��)��������� �����/%�����*%��%���������,��� ,����J�������4���� ,��������������1��&���% 0�

���*��(���*����* ��/���� ��&����%

*0���� �������*��3�0����(���/������������&�����

��'���2�% �������0�,�������� ������*�*�

��� �,1�������1����� &� ��+�"M"��/ ����J�����,�& ���1��&���%

� !����&*

[w

����� +�������� "� ������ ����&�&�" ���,*�/ ,��0��� �"MN

��V�����V��� !V�

���������W���'��� �� RW�� ��X� %#

Y�

#VY�#�TRY���%�#VY#V!!V

XeF�QLBCJSp�N?QmKCJS�m�D?C\�CJS�WGBFGCI�qkZZ�B?Oe'�:LDH?Km� BGFmRJ� QLB@LEJp� RJRLD\� OB?F� KF?H� m@NGBm\RmDEmF� TLN?CGF?RGCC\�5OBL�CJ'�5OBL�CL�e�F?QCm�m�OB?Fm'�4OBmTI�N?|LBJ}LpBe�CJp� EBeNJ'

0Bm}LF�Cm@GMIOJS�~B?CE'�XBeCLECL�CLFLRL��C?F?��cFB?NJ�FmKDEeNLRL� CL� TLHmK'� :m@GMIOJS� W?omEp� TLOBJFLFRGCJSeOBL�CDIO?U� OB?F+Up� TLN?B?�GCJS� eOBL�CDIOJ@� W?BC?TG@?@pTLRJ�LF�N?TJMm�'�V?@e�CL�T@mCe�S�RL�@?DO?FDIO?jo?RI�GFJMIOLCLFLRL� �C?F?�� � KG@?OBLEm��p� }?o� K?� BG�EJ� DNRUCKBeFLEJ5OBL�Cep� }?o� CL� oLQCGELH� NBJCGDEJ� �D?CMG� DELRmCDIO?�O?CDEJEeMm���m��BLKmDCGp�}LDRJFG�|JEE\�'�PR?Fm}?�KeKCmRJ�OB?OJWGBF?C?��CLFLRJ�F�N?KGBEJH�N?BE\COLHp��e@LOLH�m�FLR\COLH'

0mOLF� �DNLDJEGRI�p� CLKH?KJF� �FJTF?RJEGRI�'�:G� oeKG� F|G�UoGB@GC�mF�'�PCJOCeEI�|LHRJFm�=LSKLCGOJp�1DFfCMm@Jp�TomBCLFmKN?FmKLRICmDEIp�@LD?Fm�B?TDEBmRJ�eOBL�CDIOJH�N?RmEF+\TCmF�N?@mDELHp�CG�oeKG�NeoRmWCJH��JoGCJMIp��NLMJ~mOLMmS��m�N?|LBmFeOBL�CDIOJH�DmR'�:G�oeKG�FJF?TmF�CL�FL|Om�B?o?EJ�K?�:m@GWWJCJp�RLNLC?O��N?�@mDELHp�oGTOLBC?��DFLF?Rm��GDELNmFMmFp��T?CKGBKmCDEe�m��oLC�eMmF�p�CG�oeKG�F|G��CeB�~UB�K?SWG�'

:LE?@mDEI� oeKG� �DELB�JS� oBLE� T� CLSNGBGK?Fm�?UB?DmSDIO?U�OeRIEeB?U�p��CLSKG@?OBLEJWCm�?U�O?CDEJEeMmfU�p�CLB?KCJ@�DeKmFCJMEF?@�p��FJo?BL@J�'�2BJSKeEI�C?Fm�<mCCJMmpALEJCmp� 4?R?FOJp� 6?RJ@Lp� 4JomBp� |LHRJFm� Q?R?K?Fm� ELo?BJpEUB@J� m� KLRI�G�~mTJWCG� FJCJ}GCC\� eOBL�CDIO?Q?� CLB?Ke'PC?Fe� N?WCeEID\� CGWeFLCm� K?Dm� F� mDE?Bm�� DFmEe� B?TDEBmRJpFoJFDEFL� eOBL�CDIO?Q?� CLDGRGCC\p� T?OBG@L�|�@?R?Kmp� KJOm� S|?BDE?Om�?oRLFJ�CL�DGRL�S�@mDELp�|LHRJFJS�QBLom|�eOBL�CDIOJHDmRp� TC?Fe� oeKeEI� QCLCm� oLQCGEL@J� GCOLFGKJDEmFp� NLBEmSMmFpO?@D?@?RIMmF�e��EBL~CJH�B?ELH�*�CL�NGBGK?FmS�o?RI�GFJMIjOJH�~B?CEmF�*� eOBL�CDIOm� W?R?FmOJ'� XeKeEI� TC?Fe� CJ}GCmeOBL�CDIOm� OeRIEeBCm� TK?oeEOJp� oeKG� ~LRI�eFLCC\� mDE?Bm�pRmEGBLEeBJp� oeKG� BeDJ~mOLMm\'� 2?WCeEID\� C?FG� oGTNBLFDEF?pCLDJRR\p� EGB?Bp�@LD?Fm�FJF?TJ� m�Be�CL'�XeKG�4447p�?E?WGCJSO?BK?CL@J� OmRIWLDEJH� KB?EmFp� WLDE?O?RmFp� LR\B@?FJH� KB?EmFp@mC�EL�FGRJWGTCJ@J�NBJO?BK?CCJ@J�QLBCmT?CL@J'�5�oBGHRJFmSNB?NL�LCKm�oeKG��TL@?|CG�|JEE\�p��FGRJOm�eDNmHJ�D?MT@LQLCC\�pDELHLC?F}JCLp� ?BKGC?@LCm\'

Yq

���

<�E?S�WLDp�O?RJ�CLoRJ|LFD\�~B?CEp�\�RmOeFLF�DGoG�NmDR\B?Oe� Cm@GMIO?�� EUB@Jp� NmDR\� Q?R?Ke� S� E?BEeBp� F� DGRm� 6'XmBWLCDIO?Q?� BjCe'� 2?DEmSC?� EBJ@LF� TF+\TOJ� T� @mDMGFJ@NmKNmRR\@'� PoB?U�@LF� CLN?Q?E?Fmp� EmRIOJ� WGOLF� Emf�� HFJRJCJp}?o�NmEJ�EeKJp�OeKJ�ORJWG�5OBL�CL'''

2GBGK� FmKH?K?@� F� NmKNmRR\� \� Nm�?F� TF+\TOL@Jp� }?oN?NB?}LEJD\� T� DF?�@J� BmKCJ@J'� ALS� CL� K?B?Qe� o?B?EIoJN?oRLQ?DR?FJEI�@GCG�@?\�@LEJp�ELp�\OL�FJH?FLRL�@GCGp�CLFWJRLRUoJEJ�5OBL�Ce�EL�F|G�TLBLCm�NBJQ?EeFLRL�NGBG@LQLEJ�CGTQ?KJS�EBeKJp�FWJRL�o?B?EJD\'

aR\H� AJBmF�*�6?B?DEGCO?�*�4\CmO� NGBGFLCEL|GCJSNmKF?KL@J�FEmOLWmF'�5Dm�NB\@eUEI�CL� TLHmKg� OLFOLTIOm�CLB?KJpELELBJp�OeoLCMmp�K?CMm�EL�eOBL�CMm'�4OmRIOJ�F|G�BLTmF�K?F?KJEID\CL@p�eOBL�CM\@p�N?OJKLEJ�eOBL�CDIOe�TG@RU�S��HLEJ�F�CGFmK?@GpF�We|m�OBL�CJ�CL�G@m�BLMmU��1oGBG|C?�?o@JCLU�AJBmFp�}?oWLD?@�CG�TeDEBmEJD\�T��GDELNmFM\@Jp�\Om�TCLUEI�@GCG'�<�DGRm�b'WGOLU�TF+\TOmF'�0eE�TeDEBmF�TCLS?@e�DG@mCLBJDEOe'�<?CL�F|G�FNmKNmRRm'� 1oFLCEL|GCL� �BLCLEL@Jp� T� OmRIO?@L� @mDMGFJ@JN?FDELCM\@J�CL@?FR\f�eOBL�CMmF�T�Cm@GMIO?��LB@m��NGBGH?KJEJK?� 528'� :L��R\He� MmRm� O?R?CJ� LFE?@L�JC� m� NmKFmK'� XLQLE?LFE?@L�JC� DE?�EI� @m|� HLEL@J� F� DLKLH'� <?CJ� CLFLCEL|GCmFD\OJ@� K?oB?@p� CLQBLo?FLCJ@� F� 5OBL�Cmp� ToB?fUp� L@eCmMmfUp@LSC?@'�0BGoL�S�@GCm�EB?HJ�B?TKJFJEJD\p�@?|Gp�FKLDEID\�KG}?�OeNJEJ�'

XmR\� ?KCmf�� HLEJ� DE?�EI� LFE?@L�JCL� T� B?DmSDIOJ@JBe�CJM\@J� m� �BLCLEL@J'� XmR\� CG�� N?BLfEID\� FGB@LHEmFGMI'� `NLDe�TL�CJ@�?WJ@Lp�WJ�CG�FKLDEID\�FOBLDEJ�o?KLS�Be�CJMU�ELOmRIOL��BLCLE'�`O?DI�Cm@GMI�FJS�?F�CL��R\H�mp�TeDEBmF�JDI�mTDF?�@� TCLS?@J@p� TLFmF� T� CJ@� B?T@?Fe'� `� DO?B?� N?FGBELU� K?HLEJp� @mDMGFe� |mCOe� NB?�e� DE?\EJ� CL� FLBEmp� L� O?RJ� oeKGCLKH?KJEJ�Cm@GMIp�WeHLEJ�N?EJRJMU'�4L@�TmDOLOeU�CL�@L�JCem� TKmS@LU� EBJ� Be�CJMm� S� ?KCe� QBLCLEe'��mCOL� N?KLf� TCLO'2mKomQLU�K?�OBJCJMmp�OJKLU�F�F?Ke�Be�CJMmp�L��BLCLEe�H?FLUK?� OJ�GCm'� AJEBL� Q?DN?KJC\p�}?o� Cm@GMI� FmKBLTe� CG� Nm�?FNGBGQR\KLEJ�@L�JCep�TLORJOLRL�S?Q?�K?�DGoG�S�KLRL�KF?f�\fMI'<mC��FJKO?�FJE\QCeF�T� E?BoJ�N?RI?Fe� QBmSOep� TLNLRJF�OmDEOeEL�N?WLF�Em�\SM\�FLBJEJ'�`�TL�E?S�WLD�TeDEBmF�DF?U�TCLS?@ep

Y.

NGBGKLF� �S� �BLCLEe� m� DOLTLF� NB?� @mDMGp� KG� RG|LEI� Be�CJMm'7?TOLTef�@GCmp�}?�TF+\TLRLD\�T�OmRIO?@L�eOBL�CM\@J�T�KJFmTm��bLRJWJCL�p� \Om� TLBLT� FEGWeEIp� m� F?CL� N?FGKG� �H� N?R\@J� Fe@?FRGCG�@mDMGp�L�KLRm�DL@m�NmKeEI�K?�DGRL�XLCKB?FL'

:GDN?KmFLC?� NBJS�RJ� EBJF?|Cm� FmDEm'� :m@GMIOm� ELo?BJBe�JRJ�F�K?B?Qe'�:m@Mmp�FOBJEm�NJRUO?Up�KBm@LUEI�CL�F?TLHp�L@mDMGFm� DGR\CDIOm� HR?NMm� TFJFLUEID\� omR\� NmKFmK� m� DE\QLUEI� TCJH� N?� Be�CJMm'� dLD� m� @GCm� N?DNm�JEJp� o?� LBEJRGBmSDIOeOLC?CLKe�WeEJ�F|G�oRJTIO?'�PF+\TOJ�K?DJEI�CGDNBLFCmp�m�\�EBLWeoLQLE?�WLDe�F�DGRLH�`'�m�b'p�L�TFmKDJ�SKe�NB\@?�K?�@mDEL�4'�0eENeDEOL'� _GjCGjKG� CL� oBL@m� DE?�EI� DELBGCIOL� DE?B?|JHL� Lo?DE?B?|'�bBeNOL@J�CGBF?F?�NB?H?K\EI�Cm@Mm'�6LC?CLKL�DEB\DLf@mDE?'�2mKH?K|e�K?�OFLBEJBJ�@?�H�BmKCJH'�PL@OCGC?�CL�O?R?KOep\OBLT�CL�Eep�K?�\O?��\�ELO?|�@LU�ORUW'�<mKWJC\U'�<�N?@G�OLCCmCG@Lf� CmO?Q?'�=GoRm� S� FD\Om� mC�m� BGWm� DE?\EIp� \O� DE?\RJ'PLoBLRJp�}?�FL|RJFm�G'�<mKmS�RJ�CGFmK?@?�OeKJ'�PLoJBLU�TmDEmCJ�DELBGCIOJS�?oBLT?O�ABJDELp�}?�CJ@�WLDE?�@?\�DELBGCIOL@LEJ�oRLQ?DR?FR\RL�DJCmF�e�HFJRJCep�O?RJ�FmKH?KJRJ�F�KLRGOeK?B?Qe�Lo?�O?RJ�F?B?Q�TLoJBLF��H�e�EUB@e'�XGBe�?oBLT?O'�:LDE?Rm�TLRJ�LU�TLNJDOeg��`�oeFp�LRG�<LD�CG�TLDELF'�2B?}LSEGpoRLQ?DR?FmEI�m�CG�TLoeFLSEG'�<mKH?K|e�EeKJp�OeKJ�ORJWG�5OBL�CL'<L��DJC�4EG~O?�'

�G�F?DELCCf�NB?H?K|e�Om@CLEL@J�m�T�KJFCJ@�NBJF+\TLCC\@K?�BGWGS�NB?}LUDI�T�CJ@J'�<JH?K|ep�TL@JOLUWJ�CL�O?R?KOep\O�oeR?'�:LK�@mDE?@�omS�o?RI�GFJMIOJH�RmELOmF'�2LKLUEI�o?@oJomR\�DELCMm�'�bBJ@Lf�TGCmECL�LBEJRGBm\'�=GCm�\O?DI�CG�R\WC?'�`SKe�@mDE?@�m�CG�oLWe�|?KC?Q?�TCLS?@?Q?�?oRJWW\'�PLH?K|e�K?@G�OLCC\�DF?Q?�KBeQL�>'a'�*�m�EeE�NeDEOL'�PLH?K|e�K?�mC�JH*� EG|� CG@Lf� CmO?Q?'� :L� OBLU� @mDEL� DEBmWLU� DELBGCIOeF?K?C?DOep� \OL� B?TOLTef� @GCmp�}?� T� eOBL�CDIO?�� mCEGRm�GCMm�@LS|G�CmHE?�CG�RJ�JFD\�F�@mDEmg�?KCm�FJ�HLRJ�CL�TLHmKp�mC�m�*CL�DGRL'

6?RJ� \� TLKe@LCJS� m�?F� K?B?Q?Up� NB?RGEmRL� N?FT� @GCGFLCEL|CL�@L�JCLp�L�T�CG��FNLRJ�FJQeOJg��2B?}LSEGp�NB?}LSEG��2?oLWJF� CL� CmS� TCLS?@m� ?oRJWW\'��LDE\� H?EmR?p� }?o� @GCmFKLR?D\�NBJDmDEJ�K?�N?B?|CI?��@L�JCJp�\OL��HLRL�CL�O?NLRICUN?� Cm@MmF'� :L� @L�JCm� \� TLTCLS?@JFD\� T� ?KCJ@� eOBL�CMG@KJFmTmSCJO?@'�<mC�?N?FmKLf�@GCm�NB?�omS�NmK�XB?KL@J'�2B?N?CeUS?@e�SEJ�K?�528p�LRG�FmC�FLQLfEID\'�2?OJ�Cm@Mm�CLFLCEL|eFLRJ

Y�

FD\OG�@LSC?�CL�@L�JCJp�K?FO?RL�DE?\RJ�TLDELFOJ�T�OeRG@GEL@JNB?EJ�NLBEJTLC'�0L�NB?EJ�\OJH��:L�JH�Lo?�o?RI�GFJMIOJH'

4NBJECJS�HR?NGMI�N?E\QCeF�e�Cm@M\�QLBCJS�NmDE?RI'�0?SNmDE?RI�oeF�NBGK@GE?@�K?FQJH�E?BQmF�N?@m|�@C?U�S�EGNGBm�Cm@S?Q?� FRLDCJO?@p� O?RJ� @J� N?DeFLRJD\� K?FQ?U� LFE?O?R?C?U':m@Mm��HLRJ�De@Cm'�<|G�CG�oeKeEIp�CGCLDJECmp��DEJ��\SOLp�QeDOLp@LDRI?�'�bCmEJF��H�TL@LH�CL�bmERGBL�m�NB?FLR�~B?CEmF�NmK�XB?KL@Jm�F�XLDLBLom�'

=GCm� EBGoL� FJDmKLEJ'� 8FE?O?R?CL� CG� TeNJCJEID\'� :LN?FC?@e� omQe� @L�JCJ� FJDOLOeU� m� NLKLU� F� BmFp� T� KBeQ?�LFE?@L�JCJ�Cm@Mm�CLDELFJRJ�CL�@GCG�ToB?U'�<?CJ�@GCG�FT\RJTL�\O?Q?DI�CGNGFC?Q?p�LRG�@mS�KJFmTmSCJO�OBJOCeF�K?�CJH�OmRIOLDRmFp�}?��H�TLDN?O?�R?'�1E�m�oeF�oJ�N?NLF�

PLH?K|e� K?� TCLS?@?Q?� CL� DELCJMU�@mDMGF?�� eOBL�CDIO?�N?RmMm�'�:L�DELCJMm�OmRIOL�Cm@GMIOJH�|LCKLB@mF'�<Dm�Q?EeUEID\FmK+�TKJEJ'�`� FGKe� ELf@Cm�NGBGQ?F?BJ� T�N?RmML\@Jp�CL@?FR\Up}?o� NGBGH?KJRJ� K?� 528p� LRG� F?CJ� FLQLUEID\'�1KJC� mT� CJHNGBGKLf� @GCm� NR\C� @mDM\p� KG� TLH?FLC?� Be�CJMU'� 4O?B?TF+\TeUD\� T� @mDMGFJ@J� NmKNmRICJOL@Jp� mC~?B@eU� �Hp� \OLDJEeLMm\� EL� }?� B?oR\EI� EGNGB� N?FDELCMm'� PLK?F?RGCmCLSC?Fm�J@J� FmDEOL@Jp� F?CJ� TLNB?�eUEI� @GCG� K?� ?KC?Q?Q?DN?KLB\�CL�K?oBe�O?FoLDe'

:L��R\He�F|G�ELOL�FGRJOL�CLFLRL�NmKFmKp�}?�EBeKC?�NGBGSEJCL�KBeQJS�omOp�EBGoL�F�BeDm�WGBGT�NmKF?KJ�NGBGDOLOeFLEJ'�6eB\FLTLOBJFLf�FDG'�6BJOJp�NRLW�KmEGSp�BGF�HeK?oJp� mB|LCC\�O?CGSpQeO�@?E?BmF�EL�O?B?EOm�Cm@GMIOm�O?@LCKJ�TRJFLUEID\�F�TR?FmDCJS�e@'

`�NB?}LUD\�T�KBeT\@J�m�Be�LU�Nm�OJ�WGBGT�DGR?�/mDO?FLEG'0eE� CLDGRGCC\�|LRmfEID\p�}?� S?@e� K?OeWLUEI� o?RI�GFJMIOmNLBL�eEJDEJ'��?C?Wm�N?�OmRIOL�CLNLKLUEI�CL�HLEJp�TLoJBLUEIp}?��@�EBGoLp�S�FmKH?K\EI�e�RmD'

5� DGRm� 0'� CL� @GCG� F|G�|KeEI� @mDMGFm� NmKNmRICJOJ'� :GQLUWJDIp� Be�LU� F� KLRI�e� K?B?Qe'� PLH?K|e� K?� TCLS?@?Q?D?REJDLp�MeNO?Q?�S�mKGSC?Q?�eOBL�CM\'�<�DGRm�CG@Lf�FmKN?FmKCJHRUKGSp�\Om�o�EGNGB�DELRJ�F�S?Q?�NB?F?Km'

<�Cm@GMIOmS�EUB@m�oeRJ�TL@?BK?FLCm�/GFO?�T�X?CKLBmFOJpXLCKeBLp� 4RJF+\O� T�:?F?DGRJMI�6?TJMIOJHp� N?@GB� T� Q?R?Ke/eOLCGFJW�EL�mC�m'�:LBG�Em�TLH?K|e�K?�@mDMGF?Q?�DELCJWC?Q?XeBRLOJ'�PL�HFJRGU�TomQRJD\�@mDMGFm�NmKNmRICJOJp�m�@J�NB?FGRJ

YZ

@LS|G� MmRe� CmW� F� B?T@?FLH� CL� om|eWm� EG@Jp� ?oQ?F?BUFLRJDELC?FJ}G�EL�?o@mBO?FeFLRJp�}?�@Lf@?�B?oJEJ'�XeBRLOL�NB?DJFp}?o� \� NBJS�?F� \OCLSDO?Bm�Gp� S?@e� oeKG� RGQ�G� NBLMUFLEJ'2GBGK�LBG�E?@�\�CL�MI?@e�EGBGCm�NBLMUFLF�e�NmKNmRRm�BLT?@�TXeBRLO?U'� dGBGT� S?Q?� BeOJ� NB?H?KJF� Cm@GMIOJS� DORLKo?RI�GFJMIO?��L@eCmMm��m�ToB?�p�\OJS�\�TLoBLF�T�RI?He�F�DGRm�6'p}?�S�oeR?�?KCmfU�T�NBJWJC�@?Q?�LBG�Ee'

=mDMGFm�HR?NMm�EeE�CLTLQLR�K?oBG�?ToB?fCmp�f�DF?��Be�CJMmS�?KCL��~mCOL�'

/m}LFL�b?Bm�C\�KmDELRL�FmK�@GCG�OmRIOL�B?DmSDIOJH�TLB\K?Om�Be�CJMI'

AR?NMm�NB?D\EI�@GCG�K?ReWJEJD\�K?�CJH�}G�S�E?@ep�}?p@?|Gp�TL�@?�@J�N?BLKL@J��@��FJK�G�FKLDEID\�B?TK?oeEJ�omRI�GToB?�'

:LDGRGCC\� EBJF?|C?� DNBJS@Lf� FmDEOJ� NB?� NBJHmKo?RI�GFJOmF'�=?|CL� oLWJEJ� QeBEOJ� RUKGS� CL� K?B?QLH� omR\HLEg�F?CJ�BLK\EID\p�KG� m�\O�TLH?FLEJ�@LSC?p�}?�B?oJEJp�O?RJo?RI�GFJOJ�oBLEJ@eEI�K?�LB@m�'

���

=LCJEI�@GCG�o?B?EIoL'�6RJWeEI�NB?DE?BJp� ORJWG�NeEI� eQBmTCm� C?Wm� S� o?S?Fm� KCm'''� 6?RJDIp� e� qkqw� B?Mmp� @GCGpW?EJBJRmECI?Q?� HR?NWJOLp� NmKCGDRL�@LEJ� CL� BeOLH� m� N?OLTLRLCL�RUKGSp�}?�TmoBLRJDI�omR\��O?RJ'

*��?�MGp�@L@?��*�NJELF�\'*� �Gp� DJCep� DGR\CJ� SKeEI� TLS@LEJ� @mDE?� 6LRe�p� �H

NB?FLKJEI� EFmS�oLEIO?'�<?CJ�SKeEI� TL�5OBL�Cep�}?o�}LDRJF?|JRJ�ELOm�@LRm�KmEJp�\O�EJ'''

=LRGCIOJ@� HR?NMG@� \� TLNL@+\ELF� MGS� ?oBLTp� m� FmCTLRJ�JFD\�F�NL@+\Em�K?�DI?Q?KCm'�`�oLWe�DJCI?j|?FEJS�NBLN?BpBe�CJMm� S� O?DJ'� =mS� oLEIO?� mKG� T� DGR\CL@J� F?UFLEJ� TL5OBL�Ce'''

���

8RG� WJ� oeKG� TCLEJ� @?\� K?CGWOL� /mR\p� OeKJ� FmKH?KJEI� ��oLEIO?�� :mp� F?CL� CG� oeKG� MI?Q?� TCLEJ'� 0BGoL� FmKH?KJEJO?CDNmBLEJFC?p�}?o� F?B?Q� CLK� @?�@J� BmKCJ@J� CG� TCe}LFD\'<mKH?K|e� NmK� NDGFK?@� m� KR\� oLQLEI?H� oeKe� CGTCLS?@JS':LH@eBGCmp�mT�TRJ@J�?WJ@L�@JCLRJ�@GCG�@LTeBJ�T�MI?Q?�DGRL'

Y[

<?CJ�WGOLRJ�HFJRJCJp�O?RJ�T@?|eEI�T�K?N?@?Q?U�o?RI�GFJOmFQ?F?BJEJ� Tm�@C?U� ELOp� \O� F� qk�k�B?Mm� Q?F?BJRJ� T�@mDMGFJ@JeOBL�CM\@Jp�O?RJ�FmKoJBLRJ�FmK�CJH�MGBOFe'�0?Km�N?oJRJ�D?ECmDGR\C�T�K?FO?RJ�CmH�DmRp� TLOLEeFLRJ�CL�D@GBEI�XB\CDIO?Q?�T/\HLFJp�A?@e� T�/m}LFJp� D@GBEGRIC?� N?oJRJ�V?DJNL�2m�L� T6eTI@JCJ'

PGRGCm� RmDJ� ORJOLRJ�@GCG'''�2B?}LSEGp� FmKH?K|ep� L� O?RJFGBCeD\p�CG�TCLU'

PRGQOL� DOBJNCeRJ� KFGBmp� O?RJ� F?DELCCf� �H� TLWJC\F'� 5FmO?CMG� TLQR\KLRL� @?\� @LRGCIOL� K?C\� /mR\'� 9S� EGNGB� ELO?|W?EJBJ�B?OJp�\O�E?Km�oeR?�@GCmp�O?RJ�FmKH?KJF�@mS�oLEIO?'�<�EeHFJRJCep�O?RJ�F?DELCCf�N?@LHLF�K?�CG��BeO?Up�}?DI�KmEOCeR?KJEJCe'�A?WL�WLDE?�FJomQLRL�FDRmK�TL�@C?Up�LRG�EGNGB�KJFCJ@Q?R?D?@�m�N?FL|C?�TLNJELRLp�FJomQLUWJ�T�HLEJg

*�0LEep�OeKJ�SKG��*�0LE?�TLBLT�FGBCGEID\'*�:mp�\�H?We�TCLEJp�OeKJ�SKG�'*�<GBELSD\p�/mRUp�\�DO?B?�NBJSKe�K?�EGoG'*�`�H?We�T�E?o?U�SEJ'*�:mp�/mRUp�FGBELSD\�K?�HLEJ�m�FJQR\KLS�@GCG�WGBGT�FmO?CMG'*�1Sp�ELEep�ELEep�EJ�@GCG�CG�RUoJ�'�4L@e�RJ�Lf�p�DOL|Jp

OeKJ�SKG�'2BJNLRL�K?�BeOp�N?WLRL�EeRJEJD\p�MmReFLEJ�m�NRLOLEJ'*�0LEep�CG�SKJp�FGBCJD\�K?�/mRm'8RG�\�F?DELCCf�NGBGHBGDEJF���p�N?MmReFLF�m�DOLTLFg*�<GBELSD\�m�FJQR\KLS�WGBGT�FmOC?'�?o�CG�o?RmR?�DGBMGp�CG�ELO�NGORJ�oLEIOmFDIOm�DRI?TJp�\

F|G�CG�?QR\KLFD\p�L��FJKO?�Nm�?F�QGEI'�4N?EJOLFD\�?o�OL@mCC\pCG�oLWJF�CmW?Q?�NGBGK�D?o?Up�EmRIOJ�NRLW�K?RJCLF�K?�@GCGg

*�0LEe�@mSp�ELEep�FGBCJD\'dJ�TCLf�@LRGCIOL�/mR\p�OeKJ�Nm�?F����oLEIO?��dJ�DOLTLF��S

HE?�ELOp�\O�DF?Q?�WLDe�@GCm��dJ�FJQR\KLf�F?CL�@GCG�}G�S�K?DmWGBGT�FmO?CMG�*�@?|Gp�N?FGBCGEID\�oLEIO?�

<|G��mDEI� B?OmF� NB?S�R?� FmK� Emf�� HFJRJCJp� L� oLEIO?� CGFGBELfEID\'� >� HE?� TCLfp� WJ� FGBCGEID\�� 8RG� FGBCeEID\� mC�m� mB?TOL|eEI�@LRGCIOJ@�/mR\@�NB?�CL�m�T@LQLCC\'

8�@?|Gp�@?�S�/mRm� CmHE?�CG� B?TOL|Gp� o?�CG� TCLUp� \OL� ��K?R\� DNmEOLRL'� 2?OJ�}?� Oef@?� K?RU� KR\� @mRIS?CmF� ELOJH@LRGCIOJH� KmEGS'�=?|Gp� HE?DI� mT� FK\WC?DEJp� \O}?�@?\� K?C\

YY

|JFGp� TL?NmOefEID\� CGU� S� FJH?FLf� ��'� A?WGEID\� FmBJEJp�}?oeKeEI�ELOmp�}?�TLMmOLFR\EID\�K?RGU�KmEGS�N?R\QRJH�oLEIOmF'

<JH?FeSEG��Hp�?NmOeSEGDI�CJ@Jp�L�F?CJ�oeKeEI�ELOJ@Jp�\O�HCm� oLEIOJ'''

���

=?f� TCJOCGCC\� F?B?|G� DGR?� NBJSC\R?� T� EBJF?Q?U'� <mKE?Q?�KC\�@LTeBJ�?oDELFR\RJ�DGoG�DE?B?|L@Jp�H?W� m�CG�TCLRJpOeKJ� \� Nm�?F'� <|G� F� ?DELCCm� KCm� NGBGK� FmKH?K?@� \� FJOBJFNmKNmRICe�N?RIDIOe�WGBF?Ce�?BQLCmTLMmU�CG�RJ�G�F�E?@ep�LRG�SF�mC�JH�DGRLH'�0BGoL�oeEJ�WeSCJ@p�o?�F?B?Q�Ke|G�LOEJFCJS�mTLFKLFLF�CL@�eKLBJ�TL�eKLBL@J'

#T�T��Z%["��\�YRV�U R !$

XeBRLOL�NBJSC\F�@GCG�T�FGRJOJ@�FK?F?RGCC\@'�PmS�RJD\@mDMGFm�NmKNmRICJOJp�0JEeD�EL�mC�mp�NDGFK��H�CG�NL@+\ELU'�<mKBLTeFJBm�ef@?�BG@?CEeFLEJ�ToB?Up�DE\QLEJ�L@eCmMmUp��BLCLEJp�HE?KG�\Om�RJ�G�@Lf'�0BGoL�Q?EeFLEJD\�K?�B?TToB?UFLCC\�Cm@MmFp}?o�NmTCm�G�@LEJ�WJ@�FGDEJ�o?B?EIoe�T�o?RI�GFJOL@J'�7LK|eCG�Q?F?BJEJ�DGR\CL@p�}?�\�F|G�F�NmKNmRRmp�L�CGHLS�m�F?CJ�FGKeEIDF?U� B?o?Ee� O?CDNmBLEJFC?'� 2B?N?CeU� \OCLS�FJK�GTF+\TLEJD\� T� �Q?B?U�� EL� KmDELEJ� mCDEBeOMm�� CL� WLD� NGBGH?Ke~B?CEe'� 0BGoL� CL@� NBJQ?E?FJEJD\� T� HLBWL@J� K?� NGBGH?KeD?EGCI�528'�2?WJCLf@?�oeKeFLEJ�OBJ�FOJp�DORLKLf@?�EL@�DF?�BGWm'�5�FmRICm�HFJRJCJ�NGBGN?FmKLU�KBeT\@p�L�ELO?|�DGR\CL@NB?�?DELCCm�o?��528'�<Q?R?D�WJELU�FmSDIO?Fe�RmEGBLEeBep�}?���NBJCmD� T� D?o?U� T� K?@ep� }?o� HR?NMmF� EG?BGEJWC?� KG}?NmK�O?RJEJ'

4GR?� 0'� K?DJEI� FGRJOGp� QLBC?� B?TEL�?FLCGp� CLMm?CLRIC?DFmK?@G'�=mDMGFm� DGR\CJ� Q?BCeEID\� K?� @GCGp� B?TNJEeUEI� oGTOmCM\'�`�FmKN?FmKLUp�}?�@?|e�S�TCLUp�N?\DCUUp�\O�oeKeFLEJOBJ�FOJp�}?o� e� CJH� TLH?FLEJ� DF?f� @LSC?� NGBGK� QBLoeCO?@Cm@MmFp� NmTCm�G�*�o?RI�GFJOmF'�2?\DCUUp� \O� EBJ@LEJD\� NmKWLD�NGBGH?Ke�~B?CEep�\O�eFL|LEJ�CL�o?RI�GFJMIOe�B?TFmKOep}?�O?CDNmBeFLEJp�EL�BLK|ep�}?o�DGR\CJ�CG�S�RJ�Cm�K?�?KCmf�pCm�K?�KBeQ?��LB@m�'

�B?CE�eDG�oRJ|WG�S�oRJ|WG'1KC?Q?� KC\� eKF?H� T� XeBRLO?U� SKG@?� CL� TeDEBmW� T

Yn

FmDE'��LB?@'�PLH?KJ@?�F�?KCe�HLEe�m�EeE�oLWJ@?�OmRIOL�KmFWLEjNmKNmRICJMI'�1KCm� NJ�eEI� CL� @L�JCLHp� mC�m� N?BLUEID\� omR\N?BmTLCJH�OeBGS'�:L�O?MLHp�B?TDEGRGCJH�CL�N?KFmB+�p�?NLRUfEID\OmRIOL� N?FDELCMmF'�2mKH?KJ@?� K?� CJHp� mp� CL� NBGFGRJOG� KJF?pNmTCLU� EeE� DF?Q?� KLFCI?Q?� TCLS?@?Q?� `MOL'� _BeQ� XeBRLOLN?RLQ?K|ef�DF?��DNBLFJp�L�\�TLFmF�B?T@?Fe�T�KmFWLEL@J�m�T�̀ MO?@p}?� S?Q?� CG� oLWJF� e|G� KGF+\EI� B?OmF'� <mC� T@mCJFD\p� F|G� CGELOJS� FGDGRJSp� \O� oeF'� PCJ}JRL� S?Q?� F+\TCJM\p� L� CLSomRI�GEGp�}?�@eDmF�FKLFLEJ�NmK�WLD�DRmKDEFL�m�B?TNBLFJ�Ke�GFC?HF?B?Q?'2B?�F+\TCJMU�S�TQLKeFLEJ�CG�H?WG'�2B?DJEI�TLDNmFLEJ�NmDCUp}?����DNmFLF�\�S?@ep�O?RJ�@J�?oJKFL�FORLKLRJ�K?RmFOe�F�WJELRICm�2B?DFmEJ��F�DGRm�l'g��1S�EL@p�?S�EL@�TL�KF?B?@'''�

>�Nm�RJ�DN?QLKJ�NB?�KLFCm�RmEL'''�2?FDELCMm�TLMmOLFJRJD\pHE?�|� MG� FGKG� ELOe�}JBe� B?T@?Fe� T� �HCm@� O?@LCKJB?@'� 8RGEBeKC?�*� O?CDNmBLMm\p� m� @J� RJ�JRJD\� KR\� CJH�=e�O?U� mABmC?@'�V?Q?�KJFeFLR?�@?f�NDGFK?'�PFmKOJ�\�NBJoBLF�D?om�ELOGWeKLMIOG��0L�F?C?�H?KJR?�TL�@C?U�F|G�T�@?�H�UCJH�RmE'��Gqk�k�B?Oe�@J�T�CGFmKDEeNCJ@�KBeQ?@�<LDJRG@�X'�NBJoBLRJ�D?omELOm�NDGFKL'�<mC�*�1RGODL�X?DJSp�L�\�*�2LCIO?�ABmC'

=m|�KmFWLEL@JjN?FDELCM\@J�N?WeF�\�ELOm�NDGFKLg�X?QKLCLjPGCLp� :LELROLp�=LRe�Lp� P?\p� 4?~m\p� `BJCLp� 4mBL� EL� mC�m'6jB�=e�OL�N?OLTef�@GCm�BmTCm�mCDEBeOMm��O?@LCKeFLCC\�528�mNB?F?Ke�15:'�P�MJ@�@J�S�FGBELf@?D\�K?�DGRL�0'

XeF�CLOLT�@L�LTJCeFLEJ�\OCLSomRI�G�@+\DL�CL�WLD�NGBGH?Ke~B?CEe'�=J�?BQLCmTef@?�OmRIOL��EeO�HeK?oJp�@+\D?�CLD?RUf@?m�F�@m�OLH�TLO?Nef@?�F�TG@RU'

���

1KC?Q?�KC\�SKe�T�XeBRLO?U�DGR?@'�XmR\��O?RJ�CLK+�HLRLNmKF?KLp� L� CL� CmS� OmRIO?H� ?ToB?fCJH� W?R?FmOmFp� ?K\QCGCJH� eo?RI�GFJMIOJH� @eCKJBLH� m� N?jMJFmRIC?@e'�2?oLWJF�J� CLDpF?CJ� N?TmDOLOeFLRJ� T� F?TLp� NeDEJRJD\� omQMG@� mT� ToB?fUCLN?Q?E?Fmp� EL� BLNE?@� FNLF� Be�CJWCJS� N?DEBmRp� m� CGFmK?@mNLCmWC?� FEmOLUEI� F� |JELp� TLRJ�LUWJ� NmKF?Ke'� 2mK+�TKJEICm@GMIOJS� ELCO'�=J� FmKBLTe� T?BmfCEeFLRJD\p� }?� MG� oeRJo?RI�GFJMIOm�S�N?RIDIOm�NLBEJTLCJp�\Om�H?EmRJ�CLD�FNmS@LEJpELp� N?oLWJF�J� Cm@GMIOJS� ELCOp� FEGORJ'� :m@Mm� S� CL@� CGK?FmB\UEI'�2?WLRJ�K?NJEeFLEJp�}?�MG�TL�?ToB?fCm�RUKJ�FEGORJF�|JE?'�:L� CL�e� FmKN?FmKIp�}?� E?� o?RI�GFJMIOm� NLBEJTLCJp

Yw

Cm@GMI�DN?OmSC?�@LHCeF�BeO?Up�EmRIOJ�NmDRLF�F�E?@e�CLNB\@mOmRIOL� WGBQ� T� OeRG@GEL'� _?FmKef@?D\p�}?�~B?CE� FmK� CLD� TLOmRIOLCLKM\EI�OmR?@GEBmF'

���

PF+\TOJ� CL�m� KmUEI� TCL@GCJE?'� _mFWLEL� TF+\TO?Fm� oGTNGBGBFJ�NGBGomQLUEI�FmK�DGRL�K?�DGRL�mT��EL~GEL@J'�:L�TLNJDOLHCLEBLNR\U�CL�ELOm�NDGFKLg�bB?@GCO?p�/mD?FJSp�1DJNp�PLRmTC\O'

1KC?Q?� KC\� N?\FJRJD\� OmCCm� DEG|m� 528'� PeDEBmF�JDI� T?KCmfU� DEG|GUp� N?oLWJF� \� 8BNLKL� m� 1DELNL'� PL� CJ@JNGBG@LB�?Fef� D?EC\� OjBL� bB?@GCOL'� bLBC?� ?ToB?fCmpe@eCKJB?FLCmp�?NLRGCm�D?CMG@�m�FmEB?@p�mKeEI�K?FQJ@�DEBmRGMIOJ@B\K?@�@?R?Km�F?\OJ�528'�P�CJ@J�@LB�ef�OmRIOL�CL�JH�KmFWLEjN?FDELCMmFg�_?BLp�7?OD?R\CLp�8BGEL�S� mC�m'�5DG�DGR?�FJS�R?CLTeDEBmW�BmKC?@e�FmSDIOe'�<mELUEI�S?Q?� T� DRI?TL@J�BLK?DEJ'_JFCJS�CLDEBmS� ?NLCeFLF� DGR?'�6?|CJS� H?EmF� NB?DJKmEJ� KGCIomR\�D?ECmp�\OL�TLOFLBEJBeFLRL�F�Q?Bm�CI?@e�OmCMm�DGRLp�NmK�RmD?@'

:GKLFC?�NGBGS�RL�D?EC\�OjBL�d?BC?Q?�CL�/G@OmF}JCep�LFDRmK�TL�CGU�NGBGSKG�D?EC\�OjBL�bB?@GCOL'

���

2B?E\Q?@�KC\�\�@LF�DF?��DNBLFJp�L�FFGW?Bmp�Ke@LUp�EBGoLNmEJ� @m|� HR?NMmFp� B?TFmKLEJp� \OJS� CLDEBmSp� N?DReHLEJp� }?Q?F?B\EIp�@?|Gp�N?WeU�\OmDI�C?FJCJ'�_?�DELB�JC�CG�TLH?KJFpN?jNGB�Gp�E?@ep�}?�CmO?Q?�CG�TCLFp�L�N?jKBeQG�*�EGNGB�\�oeFTFJWLSCJ@�DEBmRIMG@p�E?�W?Q?�|�@GCm�TLH?KJEJ�@m|�O?@LCKJBmF'deK?FJS� RmECmS� FGWmB'� 4mKLU� @m|� DEBmRIM\@J� CL� NBJTIom� mTLF?K|e� T� CJ@J� B?T@?Fe'� :LSFL|RJFm�?U� EG@?U� oeR?p� \ONGBGSEJ�~B?CEp� Cm� F� \O?@e� BLTm� CG� N?@LQLUWJ� Cm@M\@� EL� STLCLKE?��H�CG�o+UWJ'�ALS�F?B?QJ�DL@m�FJDCL|eUEID\p�MG�OBL}GKR\�CLD'�<D\OL�DNmFNBLM\�T�Cm@M\@J�oeRL�LoD?RUEC?�TLo?B?CGCL':GFK?FTmp�O?RJ�CL�L�B?T@?FL�TmS�RL�CL�|LBEJp�\�N?WLF�?N?FmKLEJDEBmRIM\@� FGDGRm� NBJQ?KJ� T� @JCeRJH� RmE'�=GCG� ?oDEeNJR?oBLEDEF?'�4ReHLRJ�S�D@m\RJD\'�4ELB�JCJp�}?�NB?H?KJRJ�N?FTCLDp� TLMmOLFJRJD\� m� To?Oe� NBJDReHLRJD\p� NBJDELUWJ� K?� CLD'4EBmRIMm� @GCG� FN?K?oLRJ'�1KJC� T� CJH� TLNB?N?CeFLFp�}?o� \S�?F�K?��HCI?��D?ECmp�oeKG�m��@p�m�@GCm�FGDGR?'�5�FmKN?FmKI�CL�MG\�DOLTLFg

Yk

*� 4EBmRIMmF� e� FLD� CG� oBLOefp� m� ELO� FL�m� O?@LCKJBJ@LEJ@eEI� OR?NmE� T� NGBGH?K?@�~B?CEe'�=GCG� WGBQL� CG� @JCG'2?OJ� }?� NGBGoeKe� ~B?CE� EeEp� HE?DI� T� RUKGS� @eDJEITLRJ�JEJD\p�}?o� CG� ?NeDEmF� EGBGCp� EL� S� CL� MI?@e� FmKEJCOeEBGoL�FJO?BJDELEJ�NGBGHmK�~B?CEe�m�CLQB?@LKJEJ�ToB?U'

XeR?�F|G�NmTC?'�4EBmRIMm�B?TH?KJRJD\�N?�DF?�H�OFLBEJBLHCL� FGWGBU'� XmR\� HLEJ� W?BC??O?�� 6LDm� DE?\R?� OmRIOL� QLBCJHp?DmKRLCJH� O?CGS� DELB�JC'� `� KmDELF� ORJWOep�}?o� oGT� NBJQ?KFJSEJ�N?TL�@G|m�OFLBEJBeFLCC\�D?ECm'

:L�KBeQJS�FGWmB�OjB�bB?@GCO?�T�?KCmfU�W?E?U�Nm�?F�NmK�RmDCL�TLDmKOe�CL�Cm@MmF'�̀ OBLT�KFL�B?��FGB@LHEmFMmF�NGBGH?KJRJ�DGR?@'`�EG|�O?BJDEeUD\�T�CLQ?KJ'�1ToB?UUD\��BLCLEL@J�EL�oGBe�}GOmRIO?H�@mDMGFJH�NmKNmRICJOmF'�2mKDeFLf@?D\�FDRmK�TL�Cm@M\@Jp�\OmNB\@eUEI�CL�@mDMG�TLDmKOJ'�=Lf@?�F�NR\Cm�N?WLDEeFLEJ��H��BLCLEL@JpO?RJ� CG� TLH?WeEI� TKLEJD\� m� EmOLEJ@eEI� CLTLK'� PLDmKOL� oeRLB?TEL�?FLCL�NmFO?R?@�NBJ�K?B?Tmp�}?�FGRL�F�RmD'�0mRIOJ�N?\FJRJD\Cm@Mmp�FNLF�F?Q?CI��@�N?CLK�Q?R?FJp�L�HE?DI�N?jCm@GMIOJ�OBJOCeFp}?o�TKLFLRJD\p�o?�F�BLTm�DNB?EJFe�Lo?�FEGWm�*�TLQJCeEI'�:m@GMIOJSBmSp�}?�oeF�\OBLT�NB?EJ�TLDmKOJp�CLFmEI�m�CG�Ke@LF�FmKDEBmRUFLEJD\'_BeQJS�BmSp�O?BJDEeUWJDI�T�E?Q?p�}?�oeF�N?TLKep�DO?WJF�e�|JELpL�FDRmK�TL�CJ@�N?RGEmRJ�CL�m��BLCLEJ'�6jB�bB?@GCO?�TK?oeF�?KC?Q?OeRG@GEL�*�=�jZ.�m�q.�Be�CJMIp�L�@J�CL�EJHp�}?�FEGORJ�F�|JELp*�EmRIOJ�?KCe�Be�CJMU'�2GFC?p�\OJSDI�BLCGCJS�OJCeF�ToB?U'

2GB�L�DNB?oL�FKLRLD\'�<?CL�KLDEI�N?WLE?O�KLRI�J@�@LRJ@DeEJWOL@'�7?TToB?fCJH�Cm@MmF�FmKNe}GC?p�HLS�D?om�SKeEI�KLRm':L�EBGEmS�KGCI�F�CLNB\@m�@mDM\�OFLBEJBeFLCC\�D?ECm�N?�HLRLCm@GMIOL� LFE?@L�JCL'�4mRIDIOm� KmFWLEL� CL�FJKOe� NGBGKLRJ� THLEJ�K?�HLEJ�KR\�D?ECm�N?FmK?@RGCC\p�m�OmRIOL�N?FDELCMmF�FT\RJF�N?R?C�Cm@MmF�m�@L�JCe'�PoB?\�oeRL�N?EBmoCL'

2mDR\�E?Q?�D?EC\�FmKmS�RL'�<�DGRm�TLRJ�JRJD\�EmRIOJ�@mDMGFmN?FDELCMm'�5�CLD�ToB?��e|G�KG}?�omRI�G'�4EBmRIMm�N?RJ�LRJ�CL?o?B?QLH�DELBm�Be�CJMmp�L�DL@m�TLoBLRJ�C?Fmp�TK?oeEm�CL�TLDmKMm'=J�MG�FDG�NGBGoJBLf@?p�BG@?CEef@?�m�F|G�@Lf@?�WJ@�?ToB?�EJBmS'

0GNGB� DRmKOef@?� FGDI� KGCIp� WJ� CG� NB?H?KJEI� KG� @LRLCm@GMIOL�QBeNLp�}?o�CLDO?WJEJp�B?ToJEJ� ���S�TLoBLEJ�ToB?U':L�L� B?TFmKOL� Kmf� TCL@GCJE?'� 4mRIDIOm� KmFWLEL� S� NLDEe�OJpQ?N?KLBm�S�Q?DN?KJCm�N?�N?R\H�DEG|LEI�TL�F?B?Q?@p� m�NB?�FDG@J�Ke|G��FJKO?�@Lf@?�N?FmK?@RGCC\'

n�

2BJomQLf� DEG|L� m� N?FmK?@R\fp� }?� CL� DELFm� omR\��O?RJOeNLfEID\� KF?f� Cm@MmF'� :LQ?KL� NBGOBLDCL'� VKG@?� eKF?H� TXeBRLO?U�|JEL@Jp� NmKDeFLf@?D\� CL� OBLSp�}?o� N?oLWJEJp� WJWLD?@� Cm@Mm� CG� TLRJ�JRJ� ToB?�� CL� oGBGTm'� 8RG� HJEBm� Cm@MmTLRJ�JRJ� CL� oGBGTm� FoBLCC\p� L� ToB?U� TLoBLRJ� Tm� D?o?UpNGBGFmDJF�J� CL� Q?R?@e� EmRm'� :G� @?|G@?� TWJC\EJ��e@ep� o?CJ|WG�TLOFLBEJBeFLRL�omRI�L�QBeNL�Cm@MmF'�/G|J@?p�N?OJ�F?CJCG�FoBLRJD\�m�Nm�RJ�CLFNB?DEGMI�e�N?RG'�=J�CLFTK?QmC�TL�CJ@JpEL� EmRIOJ� \� NBJMmRJFD\p� \O� eNLF� N?DEBmRp� m� OeR\� NB?DFJDEmRL@GCm� omR\� DL@?�� Q?R?FJ'�AE?DI� DEBmR\f� TTLKe'� PLRmQ�*� NGFC?pCm@Mm'� PL�@C?U�F�|JE?� FNLR?�}G�OmRIOL�N?DEBmRmF'�2mKF?K|e?oGBG|C?�Q?R?Fe�F|G�T�KBeQ?Q?�TLQ?Cep�OeKJ�NGBGDeCeFD\'�̀ OmDINGBGH?|m� N?FDELCMmp� TLLR\B@?FLCm� DGR\CL@Jp� Nm�RJ� CL@� CLK?N?@?Qep�ELp�TL@mDEI�DEBmR\EJ�F�Cm@MmFp�DEBmR\RJ�N?�@GCm'�aEeOLCL@� CG� FKLRLD\'� bBeNL� Cm@MmFp� }?� OFLBEJBeFLRL� F� DGRmpTLLR\B@?FLCL�N?DEBmRL@Jp�F|G�NB?H?KJRL�?oGBG|C?p�F�o?S?F?@eN?B\KOe'�2mS@LEJ�Cm@MmF�CmWWU�?KJCMG@�CG�@?|CL�oeR?p�o?�CLELOG�F?CJ�CmO?RJ�CG�NeDOLRJD\p�L�O?RJ�S�C?WeFLRJ�KGp�E?�EmRIOJomRI�?U�QBeN?U�m�EBJ@LRJ�NJRICe�FLBEe'�<JKC?p�K?oBG�KLRJD\�@�FTCLOJ�F�5OBL�Cm�ELOmp�\O�@J'�=LRm�QBeNOJ�FKGCI�NB?H?K\EIWJDEJ@�N?RG@'�4GRL�?@JCLUEIp�o?\EID\� �H'

���

`O?DI� N?KLf@?D\� CL� B?TFmKOe'�=?|Gp� FKLDEID\� eFGW?BmEBLNJEJ� CL� o?RI�GFJMIOJH� NLBL�eEJDEmF'� PLH?KJ@?� K?� HLEJpK?� \O?�� �@� oeR?� o� CLSFJQmKCm�G� NmKH?KJEJ'� XeR?� CLD� EB?f�*XeBRLOLp�\�m�>FLDI'�0mRIOJ�D@GBOR?D\p�L�EeE�F�DGRm�BeHp�OL|eEIp}?�T�RmDe�SKeEI�o?RI�GFJOJ'�<JDOLOef@?�T�HLEJ�S�TLH?KJ@?�FQ?B?K'� 2LBL�eEJDEJ� FNLKLUEI� K?� HLEJp� TLoJBLUEI� HLBWm� SFJF?K\EI�Tm�D?o?U�KmFWJCe'�5�HLEm�TWJCJFD\�NRLW'�0J@�WLD?@�EmTLNB?FLKJRJ�KmFWJCe�K?��?NJp�TFLRJRJ�CL�TG@RU�S�ToJBLRJD\�FLREeFLEJ'�9H�DG@GB?'�<Dm�@LUEI�LFE?@LEJ'�8�F�CLD�EBJ�Be�CJMmS� ?KCG�22a'�1KJC� o?RI�GFJO� DE?�EI� e� KFGB\H� m� CG� NeDOLfCmO?Q?�T�HLEJp�L�KmFWJCL�BG�EOL@J�DJR�o?B?CJEID\'�:LD�FH?NJRLRUEI'�:G� TFL|LUWJ� CL� WJDRGCCe� NGBGFLQe� F?B?QLp� DEBmR\f@?BmFC?WLDC?'� <� ?KCe�@JEI� TWJCJRLD\� DEBmR\CJCL'� X?RI�GFJOJFEGORJ'�=J�FoJRJ�?KC?Q?�oLCKJELp�L�KF?f�RJ�JRJ�OBJFLFm�DRmKJ'PK?oeRJ� KFL� 22a'� 0BeNL� TLE\QLf@?� F� N?RGp� TLO?Nef@?� mFmKH?KJ@?p� }?o� WLD?@� CG� TmEOCeEJD\� T� DJRICm�?U� QBeN?U

nq

o?RI�GFJOmF�Lo?�CG�TeDEBmEJD\�T�Cm@M\@J'�<B\E?FLCL�KmFWJCLCG�TCLRLp�\O�K\OeFLEJ'

<�CL�?@e�DGRm�N?\FJFD\�KBeQ�bLK'�<mC�N?H?KJF�T�2?OeEE\'<�CL�m�DE?B?CJ�NBJS�?F�T�W?E?U�C?FLOmFp�\OL�K?ReWJRLD\�K?D?ECm'�bLKp�NB?EGp�T�CGFmK?@JH�NBJWJC�TLRJ�JFD\�F�DGRm'� �<mCoeF�KGTGBEJBp�LRG�@J�NB?�MG�CG�TCLRJ�'�5FL|LUWJp�}?�bLK�@LfNLBEJTLCDIOJS� FJ�OmRp� @J� ?oBLRJ� S?Q?� O?@LCKJB?@� CL�?�o?�FOJ'� XeR?� F� CmS� T� Dm@� F?\OmFg� XeBRLOLp� >FLDIp�=RJCLB�*O?RJ�CmS�F?R?DCJS�FmSE�6'p�0JEeDp�bLK�m�\'

dLD?@�K?�CL�?��o?�FOJ�K?ReWeFLRJD\�KmFWLELjNmKNmRICJMmgPGCLjX?QKLCL�m�DGDEBL�=RJCLB\'

���

`OBLT�oeRJ�|CJFL'�<GBHL@J�QmB�XBLC\�E\QCeRLD\�Cm@GMIOL?o?B?CCL�RmCm\'�<D\Om�NGBGH?KJ�N?FDELCMmF�NBJNJCJRJD\'�_GCIm�CmW�E?WJEID\�TLFT\EJS�omS'�:m@Mm�OmRIOL�BLTmF�FmKoJFLRJ�CLDEeNo?RI�GFJOmF'� :m@GMIOL� LBEJRGBm\� BLCO?@� KBeQ?Q?� KC\� o?UNmK+�HLRL�NB?DE?�K?�DGRLp�m��mDEI�QLB@LE�?O?NLR?D\�omR\�K?B?QJ'=GCG� MG� ELO� TLMmOLFJR?p��?� \p� CG� TFL|LUWJ� CL� CGoGTNGOepNmKDeCeFD\�Q?B?KL@J�CL�\OJH?DI�[��@GEBmF�FmK�Cm@MmF�m�WGOLFpO?RJ� oeKeEI� DEBmR\EJ'�=?R?KJS� R\SEGCLCE� DReHLf� EGRG~?C?@N?FmK?@RGCC\'�7LNE?@�Cm@Mm�OJKLUEID\�K?�QLB@LEp�?~mMGB�N?KLfOeE�CLDELFRGCC\�S�FmKKLRIp�L�KLRmg� �~?fB���`�F|G�@LF�CLQ?KeoLWJEJ�N?RIDIOe�m�o?RI�GFJMIOe�LBEJRGBmU�EL����QLB@L�mFp�LRGELO?��FNBLFC?DEJp�\O�e�Cm@MmFp��FJKO?DEJ�BeHmF�}G�CG�oLWJF'<JDEBmRJRJ� OmRIOLCLKM\EI� BLTmFp� L� N?Em@� NmK+�HLRJ� @L�JCJp� mCm@GMIOL�oLELBG\�DNm�C?�NGBG�HLRL�F� mC�G�@mDMG'�PL�CGU� m�\FEmOLU�K?�QRJo?O?Q?�FJQ?Ce�@m|�HLEJp�KG�FJoBLF�D?om�CGFGRJOJSDH?F?O'� :G� @JCeR?� S� KGD\EJ� HFJRJCp� \O� QeBL�LCCJSLBEJRGBmSDIOJS� F?Q?CI� N?CmDD\� RmDL@J'� :Lo?�� BFLRJ� S�@LEeFLRJ� TG@RU� F� E?@e�@mDMmp� KG� DE?\RL� Cm@GMIOL� oLELBG\pB?TBJFLRJD\� oGTRLKC?�N?�MmR?@e� DGRm'� XLQLE?� o?RI�GFJMIOJHCLo?�Fp�TLDEB\Q�Jp�CG�FJoeHLRJ'�<mKWeFLRLD\�DJRL�LBEJRGBm�p���K?@mCeUWL�B?R\�e�~B?CE?FJH�Km\H'�`O}?�o�Cm@Mm�RJ�JRJD\�CLE?@e� DL@?@e� @mDMmp� |?KGC� T� CJH� CG� FJS�?F� oJ�|JFJ@'�:LMI?@e� FmKEJCOe� ~B?CEe� o?RI�GFJOJ� @LRJ� TCLWC?� omRI�GLBEJRGBmSDIOJH� oLELBGS'� 0?@e�}?� OBmTI� TLQ?B?K|eFLRICJSF?Q?CI�LBEJRGBm��CG�@?|CL�NB?oJEJD\p�*�L�Cm@Mm�ELO?Q?�F?QCUKLEJ�CG�@?QRJp�*�F?CJ�FmKDEeNLRJ'�:LDGRGCC\�H?FLR?D\�QRJo?O?

n.

NmK�TG@RGUp�LRG�*�\O�NmTCm�G�@GCm�?N?FmKLRJ�*�EL@�Km\RJD\|LHRJFm�DMGCJ�mT�DEBLHe�NGBGK�OLC?CLK?U'

:mW�@JCeRL�DN?OmSC?'�:L�KBeQJS�KGCI�BLCO?@�\p�NGBGoBLCJSCL� DGR\CJCLp� F� RLH@mEEmp� T� oBeKCJ@� ?oRJWW\@� m� BeOL@JpNBJQR\KLFD\� K?� o?U'� 6eRG@GEJ� oGTCLDELCC?� BmFC?@mBC?M?O?E\EI'� <� DGRm� Cm@MmF� CG� FJKC?'� <?CJ� FC?Wm�*� ELO� Cm@MmTLF|KJ�NBLOEJOeFLRJ�*�NGBGS�RJ�CL�mC�m�DELC?FJ}Lp�\Om�oeRJB?TEL�?FLCm� CL� FGBHLH� QmB� @m|� DGRL@J� 0'� m� �'� _GDI� NGBGKN?ReKCG@�B?TDEBmRIC?U�WGBGT�DGR?�NGBGDeFLRLD\�TL@LDO?FLCLW?EL� Cm@MmF'� >�RJ� F?CJ� F� CLSomRI�?@e� N?B\KOep� EJHGCIO?p� TNmDE?R\@J�F�BeOLH'�1KJC�Cm@GMIp�}?�F@mF�Q?F?BJEJ�N?jB?DmSDIOJpN?WLF�NJELEJp� WJ�CG� oLWJF� \�@?R?KGCIO?Q?� R\SEGCLCELp� \OJSKGDI� EeE� F� DGRm�NB?NLF'�`� TCJTLF�NRGWJ@Lp�@?FR\Fp�CG�oLWJF':m@GMIOm�F?\OJ�oeRJ�FmO?@�qwj.��B?OmF'�<Dm�FE?@RGCmp�o?|�OmRIOLKmo� oGT� DN?WJCOe'�4?C� ORG�F� �HCm� ?Wmp� L� @LE?Fm� ?oRJWW\� oeRJTLN?B?�GCmp� EmRIOJ� KGjCGjKG� oRJ}LF� OB?F+U� DFm|JS��BL@'� 5oLQLEI?H� N?KGBEm� @eCKJBJp� N?TLQJCLCm� �?R?@J'� <Dm� F?CJ�O?KeFLRJ�TL�DF?�@�R\SEGCLCE?@'�PLDEeNCJO��HCI?Q?�W?E?F?Q?NJELf� DEBmRIMmFp�}?� B?oJEJ'��\� RUo?F� F?\OmF� K?� O?@LCKJBL@GCm� DN?K?oLRLDI'� 8� EJ@� WLD?@� KBeQ�6'� N?FmK?@JF�@GCGp�}?@m|� HLEL@J� NmKDeFLUEID\� o?RI�GFJOJ'�:m@Mm� oGT� CLS@GC�?�EBJF?QJ� DE?\RJ� CL� DF?�H� @mDM\Hp� EmRIOJ� KF?f� OeRG@GECJOmFCLDELFJRJ� F� MI?@e� CLNB\@m� OeRG@GEJ'� _F?f� ?H?ECJOmFp� CGTFL|LUWJ�CL�EGp�}?�o?RI�GFJOJ�NmKDeFLRJD\p�mKeEI�KLRm��eOLEJW?E?F?Q?'� >KeEI� DN?OmSC?� FmK� HLEJ� K?� HLEJ'�aeOLRJ� oRJTIO?N+\ECLKM\EJ�HFJRJCp�L�N?Em@p�CG�TCLS�?F�Jp�N?FGBCeRJD\�m�Fo?S?F?@e�N?B\KOe�N?KLRJD\�FJF?T?@�F�N?RG'

���

�?SC?� FmKmS�RJ� Cm@Mmp� \O� N?\FJRJD\� o?RI�GFJMIOmLFE?@LECJOJ'� 1oKGBEmp� @LS|G� o?Dmp� TL@mDEI� CLNRmWCJOmF�*@m�OJp� OL�OGEJ� CLK\QCGCm� LoJ\O'� 1KJC� OR\CG� oBeKCJ@JDR?FL@Jp�KBeQJS�FJE\QLf�T�OJ�GCm�DJBJS�Q?B?H� m�|efp� EBGEmSDOBeEJF�MJQLBOep�L�mC�m�B?ToJFLUEI�FmOCLp�NGBGFGBELUEI�F�HLEmp�eOLUEI� N?|JFJp� NLOeUEI� K?� CLNRmWCJOmF� eDGp� }?� �@N?K?oLR?D\p�}?o�N?Em@�@mC\EJ�N?�DGRLH'�1KJC�N+\CJS�NmKomQLfK?�@GCG�S�NJELfg

*�_G�QGB@LC�*�5of|LRp�*�FmKN?FmKLU'

n�

*�<?KOe�m@ff��*�:mp�CG�@LU'*�6e�LEI�fDEI�*�0L��Oe�LEI��CG�@LU�CmW?Q?p�o?�oeF�omS�F�DGRm'*�:mWfF?p�@J�mKI?@�CL�XGBRmCp�oeKfE�WE?�NmEI�m�Oe�LEI'1oRJWW\�WGBF?C?LB@mSMmF�CGeOBL�CDIOm'�4L@m�B?DmSDIOm'� >

Mm� ��@mBLOJ�p� �o?D\OJ�p� �DFJEL�p� �@LH?BOL�p� \O� �H� FReWC?CLTJFLf� CLDGRGCC\p� mKeEI� CL� XGBRmC'�1E� F?CJ� N?OL|eEI� EL@DF?U�OeRIEeBe�EL�S�K?oBG�N?QeR\UEI'�8RG�oLSKe|Gp�CGHLS�DFmEN?oLWJEI�o?RI�GFJOmFp�L�E?Km�NmTCLfp�}?�NGBG|JFLf�eOBL�CDIOJSCLB?K� ?DI� e|G� EBJKM\EI� B?OmF'�ALS� mKeEI'� >� o?RI�GFJOJ� EL@N?oLWLEI� PLHmK� m� N?BmFC\UEI� K?� CI?Q?� DF?U� �B?KmCe�'� �GN?EBmoC?� KR\� ?o?H� DE?BmC'� 8RG� KG�|p� FRLDEJF?p� CL�m� DGR\CJpTLoBLCm� F� o?RI�GFJMIOe� LB@mU�� �mOLF?� oeR?� o� N?oLWJEJ��EBL~Cm�B?EJ�p� QCLCm�CL�NGBGK?Fe'�8RG�N?oLWJEJ� �H�@GCm�CGK?FGR?D\'�X?�p�}?�S�RJ�EeE�KFm�K?oJp�@LRJ�RI?OLRICJS�HLBLOEGB'<�?KC?@e�@mDMm�NB?BFLRLD\�o?RI�GFJMIOL�KJFmTm\p�FNLRL�CL�TLKJCm@GMIO?�� RmCm�p� m� FRLDCG� T�CGU�EeE� E?WJFD\�omS'�0m� T+fKCLCC\TReWJRJD\�T�NLBEJTLCL@Jp�TK?B?F?�oJRJ�Cm@MmFp�LRG�FBG�Em�oeRJ|LHRJF?� B?TE?B?}GCm'� 4NBLF|CmS� ~B?CE� }?SC?� NBJSKG'2GBGO?CLCmp� }?� ~B?CE� e|G� N?DeCeFD\� KLRmp� @J� N?� EBI?HjW?EJBI?H� KC\H� FJE\QLf@?� ToB?Up� DH?KJ@?D\� FDm� BLT?@� mN?WJCLf@?��eOLEJ� o?RI�GFJMIOJH� B?TFmKWJH� QBeNp� }?o� �HN?EB?He� FJoJFLEJ'� 4N?KmFLf@?D\p�}?� MG� CL@� FKLFLEJ@GEID\po?� o?RI�GFJOJ� H?K\EI� N?� KF?fjEB?fp� NGBGFL|C?� DELB�JCJ'/LT\EI�N?@m|�HLEL@J�TL�Q?BmRO?U�EL�KmFWLEL@J'�6?|CJS�H?WGEmRIOJ� �QeR\EI�'�=J� FL@� N?QeR\f@?���mf�� C?Wm� @J� H?KJRJ� K?KBeQ?��Q?KJCJp�LRG�CmO?Q?�CG�TeDEBmRJ'�2GBGO?CLCmp�}?�F�EGBGCmDN?OmSC?p� R\QLf@?� DNLEJ� F� DE?K?Rm� ?KCmf�� Q?DN?KJCm'� `� @LUFLBEe'�:L�DL@?@e�DFmELCOe�TLQeKmRJ�@?E?BJp�m�N?OJ�@GCm�FKLR?D\N?oeKJEJ�KBeTmF�m�TmoBLEJ�ToB?Up�TL�HLRJ�K?FO?RL�CL�?��HLEJEBJ� �OLEU�m�'� 4ELC?FJ}G� CGTLFJKCG'� A@LB?U� DeCeRJ�OLEU�CJOJ�'

bLK�OJKLf�ToB?U�S�CLDp�FmKDOLOef�CL�EmOp�EL@�TLRJ�Lf�NmK|LOm��LNOep�HLNLf�O?De�m�SKG�NB?DE?�F�N?RGp�N?@m|�o?RI�GFJOmF'�PLCJ@� FEmO� D?B?OLRmECmS�6'� S� mC�m'� /J�JFD\� \� DL@'�:L�}LDE\po?RI�GFJOJ�CmO?Q?�CG�WmNLUEI'�2?DNmH?@�DE\QLU�22ap�Be�CJMmm��KGHE\BL��K?OeNJp�FORLKLU�K?�DC?NmF�m�TF+\TeUp��BLCLEJ�H?FLUF�N?R?Fe'

nZ

<�MU�@JEI�FmKWJC\UEID\�KFGBmp�FH?KJEI�OmRIOL�o?RI�GFJOmFm�N?WJCLUEI�oBLEJ�DC?NJ'�`�FKLU�Q?DN?KLB\p�OL|ep�}?�N?KL@mC�m� DC?NJp� o?� Mm� NBJQ?EeFLF� D?om� N?�JFLEJ� HLEe'� 4OJKLUN?@LRe�DC?NJp�o?RI�GFJOJ�TLoJBLUEI�m�FJC?D\EI'�2?oLWJF�Jp}?�@?�H�DC?NmF�o?RI�GFJOL@�CG�FJDELWJEIp�TRL|e�T�Q?BJ}L�K?DELSCm� S� NGBGH?K|e� K?� Om@CLEJ'� b?DN?KLB� NGBGR\OLCJSp� FKLfKeBC?Q?'� b?DN?KJC\� DN?OmSCLp� FD@mHLfEID\p�|LBEef'� 5� HLEm� SPGCLjX?QKLCL'�0J@�WLD?@�OLNmELCjN?RmEBeO�NmKH?KJEI�K?�@GCGS�NJELf�K?Oe@GCEJ'�:L�MG�\�FmKN?FmFp�}?�K?Oe@GCEmF�CG�@LUp�FCLD�F�DGRm�oLQLE?�CG�@LUEI�K?Oe@GCEmF'�PBG�E?Up�\�CmOeKJ�CGH?K|ep�DJK|e�F�DF?f��EG}mp�m�@GCm��H�CG�N?EBmoC?'

*�8�GEL�KfFe�OL�?EOeK?FL��*�N?OLTef�CL�PGCe'*��G�@?\�KBe|JCL'<mC�NGBGH?KJEI�K?�KBeQ?��Om@CLEJp�TLWJC\f�KFGBm�S�NJELf

PGCep�HE?�F?CLp�TFmKOmR\�EL�FJ@LQLf����NLNGBJ'�7?TFL|CL�KmFWJCLFmKBLTe�|LBEL@J� FmKEJCLf� o?RI�GFJO?Fm� S� CL� NJELCC\� �WJ\�FmKN?FmKLfg

*�=L@JCL�S�ELE?FL'6?RJ�o?RI�GFJO�N?FE?BJF�}G�BLT��WJ\�p�FmKN?FmKLfg*�d?R?FmO?FL'�<J�CG�oLWJEGp�}?�EL@�DJKJEI'X?RI�GFJO�NJELf�KLRmg*�8�WE?�TKfDI�KfRLf��*�0L�oLWJEGp�}?�B?oRU'�<DELRLp�N?oLWJRL�oLQLE?�FmSDIOL

EL�S�K\OeU�X?Qep�}?�Cm@Mm�F|G�FmKDEeNJRJ'�8�EGNGB�EBGoL�K?oBGT+�DEJ�EL�S�NmEJ�CL�N?RG�F+\TLEJ�DC?NJ'�*�>�FmKBLTe�TFGBELfEID\K?� Q?DN?KJCmp� OL|eWJg�*�=L@?� �EJ@� DL@J@� KLf� TB?Te@mEJp}?o�EL�NBJSC\RL����TL�K?WOe�p�KLSEG�}?DI�T+�DEJ�O?@LCKJB?Fmpo?�F?CJ�Q?R?KCm'

8RG�o?RI�GFJMIOL�NJOL�CG�TLDN?O?UfEID\'�<D\O?��?~mMGBCmCLoJR?D\� K?� Om@CLEJp� L� FmC� F� ?OBG@?@e� OeEm� oGBG� CL� K?NJEJQ?DN?KJCU'�0L�Q?DN?KJC\�\TJOLEL�|mCOLp�FmKBLTe�FmKEJCLf�S?@eg

*�:G�OBeEmEI�@GCm�Q?R?FJp�o?�KJFmEID\p�DOmRIOJ�EeE�RUKGS'`O�CG�FmBJEGp�E?�TLNJELSEG�DeDmKmF'

�6LNmELC�FJH?KJEI�T�HLEJp�DEBmWLf�Q?DN?KLB\p�L�Q?DN?KLBpCG�TCLUWJp�}?�Q?F?BJEJp�FKLf�KeBC?Q?'�0?Km�o?RI�GFJO�mKG�L|K?�DeDmKmF'�PL�E?S�WLD�Q?DN?KJC\�TWJCJRL�OBJOg

*�8�@?|G� op� FJ� TLoBLRJD\� F|G� BLT� K?� B?o?EJ�� XGBmEINGBGFGDRL�EL�SKmEI�F+\TLEJ�DC?NJp�o?�Tom||\�F|G�DJNRGEID\'

`�KLU�TLOeBJEJ�o?RI�GFJO?Fmp�N?TL�NRGWm�FH?NJF�NmK�HLE?U

n[

NGBGFGDRL�S�Nm�?F�e�N?RG'�_BeQ�PGCL�TB?oJRL�EG�DL@G�m�Nm�RL�FNB?EJRG|CJS�omO'�b?DN?KJC\p� TL� E?S�WLD�F|G�N?mC~?B@?FLCL@C?Up�}?�CL� Q?BJ}m�RJ�JRLD\�ToB?\p� TLH?FLCL�F�DC?NLHp�CGWGOLUWJ�N?FGBCGCC\�OLNmELCLp�mKG�mT�DF?fU�K?WO?U�CL�EmO'�0L@F+\|eEI�eKF?H�CL�FJKOe�NGBGFGDRLp�FORLKLUEI�EeKJ�ToB?Up�FDGMG�BLT?@�TLQ?BELUEI�e�FGBGEe�m�SKeEI�K?�CLD'�`�O?RJ�N?oLWJF�Hp�L|�?DE?FNmF'�2BJORLK��KGHE\BL��MmRO?@�FJKC?�T�NGBGFGDGRpTo?Oe�FJNJCLfEID\�KJDO�FmK�22ap�L����K?WOL�CGDGp�\O�OLBE?NRUpF�KBeQmS�FGBGEm��BLCLEJ'�X?RI�GFJOL@�CLWG�TLDRmNJR?'�<mKFL|Cm|mCOJp� eFGDI� WLD�|LBEeUWJ� T� CL@Jp� NGBGKLUEI� ToB?Up� L� K?bLKL�OL|eEIg

*�dGBGT�FLD�@?QRJ�o�eDm�N?EGBNmEJp�L�BLT?@�T�FL@J�m�@J'1DI� oLWJEGp� EmRIOJ� �KJBGOE?B�� FB\EeFLF� ToB?Up� L� \� FL@� ��NBJCGDRL'

*�0L�CG� \� FB\EeFLF� ToB?Up� L� FJp� Q?DN?KJCGp� TL�}?� FL@}JB?� K\OeU'

4EJDOLU��S�BeOe'�<mKH?K\WJp�FK?F?RGCL�Q?DN?KJC\�OL|Gg*�8RG�bLK?Fm�\�o�CG�KLRL�ToB?�p�S?@e�O?DEeB�KLSEG'�G�BLT�?QR\CeRLD\�S�OBJOCeRLg*�0L@�}Gp�@?|Gp�}?DI�C?FG�NBJCGDG�OLNmELC�FmK�DeDmKmF'�`

FL@�NBJSKe�DOLTLEJ'6?|CJS�ToJBLf�DF?U�ToB?U'�:GFK?FTm�N?\FJRJD\�CL�N?R\H

OmCCm� o?RI�GFJMIOm� DEG|m'� <?CJ� NGBG�eOeUEI� K?DRmFC?� FDmN?ReOmNOJp�NGBGFmB\UEI�\BOJ�S�N?E?OJ�F�N?Rm'�=J�\OJSDI�WLDRG|J@?�F�B?Fmp�L�N?Em@�HJRIMG@�om|J@?�K?�RmDe'�:LD�CG�N?@mEJRJ'<� HLEm� H?FLf@?� ToB?U� m� N??KJCMm� B?TH?KJ@?D\� F� BmTCm� o?OJF+\TLEJ�DC?NJ�CL�N?Rm'�X?RI�GFJOJ��eOLUEI�e�RmDm�Cm@MmF'�2?KF?H� Q?KJCLH� NBJH?KJEI� Q?DN?KJC\� S� ?N?FmKLfp�}?� DeDmKp� CGTCLUWJp� NB?�}?� SKGEID\p� DOLTLFp�}?� M\�|mCOL� CG� @Lf� T\E\'6LNmELC� K?FQ?�}G� ��� K?NJEeFLFp� LRG� F?CL� DE?\RL� CL� DF?f@e� mN?FE?BUFLRLp�}?�DeDmK�oeF�NGBGR\OLCJS�m�CG�TCLFp�NB?�}?�S?Q?NJELUEI'

<� DGRm� FGRJOJS� BeH'� X?RI�GFJOJ� Q?EeUEID\� K?� o?U'7JUEI�?O?NJp�TLE\QLUEI�EGRG~?CCm�RmCm�p�NmKF?T\EI�FL|Oe�SNLCMGBCe�ToB?U'�/UKJ�KmDELRJ�CLOLT�FJSEJ�Tm�DGRLp�o?�EeEoeKG�omS'�̀ O�EmRIOJ�D@GBOR?D\p�@J�KmDELRJ�ToB?U�m�FW?EJBI?HNGBGS�RJ� F� mC�G� DGR?'� <Dm� FK?F?RGCmp� o?|� FJS�RJ� TCGoGTNGOJ'�8�@GCm��O?KL�oeR?p�}?�CG�@mQ� oLWJEJ�o?Up� K?\O?Q?�F?B?Q�Q?EeFLFD\'

nY

]�!�^TR$_��V� ���RVY ZV

2?�OmRIO?H�KC\H�~B?CE�N?DeCeFD\�KLRm'�=J�FGBELf@?D\�K?DGRL�0'p�?o+fKCef@?D\�S�N?WJCLf@?�CLDO?OJ�CL�o?RI�GFJOmF'�<DGRm�@Lf@?�DF?��NGFCm�HLEJp�omR\�\OJH�NGBGDJK|ef@?p�L�ToB?UEBJ@Lf@?� F� DE?K?Rm'� 6?RJ� NBJSKG� CLQ?KLp� E?Km� TLoGBG@?� ��� SoeKG@?�CLDOLOeFLEJ�CL�o?RI�GFJOmF'

1KC?Q?� KC\� NBJS�RJ� K?� HLEJ� KBeQL� /UoJ'� �?SC?NGBGOJCeRJD\� DR?F?@jKBeQJ@p� L|� EeE� CLKH?K\EI� KF?fo?RI�GFJOmF� T�22a'�_mTCLf@?D\� T� B?T@?FJp�}?� ?KJC� T� CJHB?Dm\CJCp� L� KBeQJS�*� eOBL�CGMI� T� 6L@+\CGMIj2?KmRIDIO?�?oRLDEJ'� 1oJKFL� O?@D?@?RIMm'� �mRO?@� NGFC?p�}?� B?TFmKLWm'2+\CeFLEJS�@?DOLRI�N?WLF�NB?ORJCLEJ�NmKNmRICJOmFp�L�KLRm�NJELfQ?DN?KJCUp� WJ� f� F� CG�� �oLCKI?BJ�'��mCOL� MmRO?@� N?FL|C?FmKN?FmKLfg

*�^p�m�E?�oLQLE?p�omRI�Gp�\O�e�FLD'<BLKeFLCJS�@?DOLRI�NJELfp�KG�F?CJp�m�CLOLTef�FGDEJ�S?Q?'

AJEBL�|mCOL�FGKG�@?DOLR\�K?�RI?Hep�OeKJ�FmC�FRLTJEI�mT�ToB?fUCLN?Q?E?Fmp�m�N?OLTef�OeNe�OLBE?NRmg

*�1Ep�*�OL|Gp�*�f�S�oLCKeBOJ'2+\CJS�@?DOLRI�OBJWJEI�K?�|mCOJp�}?��oLCKI?BJ��CG�ELOm'*�8�\Om��*�NJELf�|mCOL'*�cE?�ELOmfp�OLO�\p�RUKm'*�0LOJHp�*�OL|Gp�*�F�CLD�CG@Lf'=?DOLRI�KR\�NGFC?DEJ�NeDEJF�WGBQe�T�LFE?@LEL�m�FJRmT�CL

N?KFmB+\'�=J�EJ@�WLD?@�TLF+\TLRJ�MmOLFe�B?T@?Fe�T�eOBL�CMG@jO?@D?@?RIMG@'�<mC�Q?F?BJEIp�}?�F?Uf�NB?EJ�Cm@MmF�E?@ep�}?O?RQ?DNmF� e|G� CG� oeKGp� EL�}?� eOBL�CMm� oeKeEI� @LEJ� omRI�GNBLF'�2?WeF�J�MGp�@?DOLRI�FmKBLTe�OBJOCeFg

*�<BI?�p�HLH?R�5OBL�CGMI�FH?NJF�LFE?@LEL�EL�S�K?�CI?Q?g*�AE?�HLH?R��8�EJ�*�OLMLN'>� ?KJC�KBeQ?@e�NeDEJF�WGBQe�N?CLK� Q?R?Fe'�`OoJ�CG� E?S

eOBL�CGMIp�@J�o�S?Q?�EeE�F@JEI��T@?R?RJ�'�<mKH?K\WJp�eOBL�CGMI�GNCeFg

*�<mC�B?TFmKCJO'=LUWJ� ToB?U� F� BeOLHp� @J� N?DELFJRJ� D?om� TL� ?o?F+\T?O

N?OJ� }?� FJoJFLEJ� o?RI�GFJMIOJH� B?TFmKLWmF'� 8� O?RJCLRLKCLUEID\� TF+\TOJ� T� OGBmFCJMEF?@p� E?� B?oJEJ� EGp� }?

nn

CLOL|eEI'� <KF?H� T� O?@LCKJB?@�@J� Nm�RJ� F� Q?Bm�CmS� OmCGMIDGRL'

���

5|G� OmRIOL� KCmF� F� DGRm� OBeEJEID\� WGBF?C?LB@mfMI'�=GCGN?FmK?@JRJp�}?� FmC� eFGDI� WLD� CLBmOLf� CL�4447p� CL� Ce|KepO?RQ?DNJp� FEmO� T� dGBF?C?�� LB@m�p� o?� CG� @Lf� TL�}?� F?UFLEJ'A?WG�NGBG|JEJ�EmRIOJ�FmSCep�L�N?Em@�N?FGBCeEJD\�K?K?@e'�PLNmFRmEBL�Q?BmROJ�NB?KLF�CLQLCLp�L�TL�RmEB�22a'

/J�JFD\� T� Q?RJ@J�BeOL@Jp� H?KJEI� N?� DGRmp� N+f� Q?BmROe� mF|G�TLRUoJFD\�F�?KCe�KmFWJCe�F�Q?Bm�CI?@e�OmCMm'

�GS�EJN�TKLFD\�@GCm�NmK?TBmRJ@p�m�@J�FKF?H�FJBm�JRJ�S?Q?NmS@LEJ'� _mFWJCL� b'� FGKG� B?TFmKOe'� 5FGDI� WLD� DELBLfEID\NGBGoeFLEJ� F� EmS� HLEmp� KG� S� E?S� WGBF?C?LB@mfMIp� CmoJ� \OE?FLBJ�OL�KmFWJCJp�\Oe�FmC�D?om�FN?K?oLFp�m�NBJDReHLfEID\�S?Q?B?T@?FL@'

1KC?Q?�BLTep�NmKNJF�J�D?omp�FmC�N?WLF�FJHFLR\EJ�NmKNmRR\pTLNGFC\EJp�}?�5OBL�CL� @eDJEI� oeEJ� DL@?DEmSC?U� KGB|LF?UpLRG� NBJ� E?@e� N?DELFJF� ?oGBG|C?� NJELCC\p� DOmRIOJ� EeENmKNmRICJOmF�m�KG�F?CJ�NGBGoeFLUEI'�2B?�MG�@GCm�FmKBLTe�K?CGDRJpm�\�FNGFCJFD\p�}?�MG�ELOJ�B?TFmKLW'�2GBGoBLCm�F�DGR\CDIOJS?K\Qp�FH?KJ@?�K?�Emf��HLEJp�KG�FmC�NGBGoeFLF'�dGBF?C?LB@mfMI\OBLT� eWJF� KmFWLE� DNmFLEJ� B?DmSDIOm� NmDCm'� 2?oLWJF�J� KF?HTK?B?FJH�W?R?FmOmFp�FmC�TjNmK�R?oL�OJCeF�CL�CLD�N?QR\K?@�m�FGDIWLD� DN?DEGBmQLf� TL� CL�J@J� BeHL@J'� <mELUWJDI� T� eDm@LpNBJFmELRJD\� @J� S� T� CJ@'� 8RG� F� HFJRJCe� FmELCC\� FmC� EBJ@LFBeOe�F�OJ�GCm'

��G� WLD� EGoG� FNmS@LEJp�*� N?Ke@LF� \� D?om'�*�:LNGFC?@Lf��NBJQ?E?FLCJS�NmDE?RI�e�OJ�GCm�'

2?OJ�}?� NBJDReHLUD\p� \O� DNmFLUEIp� HFLRU� NmDCmp� KLUTLOeBJEJp� L� N?Em@� FJE\QLU� C?ELECJOL� m� NB?�e� NB?KJOEeFLEJ@GCm�NmDCU��:L�N?TJMmU�KfFe�OL�NB?F?|LRL�o?SML�'

PLK?F?RGCJSp� FmC� N?WJCLf� KJOEeFLEJ'� `� TLNJDeUp� L� FFmKN?FmKCe� @JEI� R?FRU� S?Q?� TL� Ee� BeOep� \Oe� FmC� NGBGK� EJ@EBJ@LF�e�OJ�GCm'�_BeQ�bLK�F�E?S�@?@GCE�FJOBeWef�S?@e�KBeQeBeOe�CLTLK'�dGBF?C?LB@mfMI�o?BJOLfEID\p�LRG�@J�F+\|G@?�S?Q?pTFLRJF�J�CL�TG@RU'�X?B?C\WJDIp�FmC�OBJWLFg

*�_BeTmp�\�FL�'�2?@JReSEGp�\�NmKe�T�FL@J'7?TFmKLW� RG|LF� TF+\TLCJS� CL� TG@Rm'� P� S?Q?� OJ�GCm� @J

nw

FJE\QRJ� C?FGCIO?Q?� �E?OLB\�� m� KFm� �BLCLEJ'� _?Oe@GCEmF� omR\DGoG�CG�@Lf�|?KCJHp�EmRIOJ�@LRe�N?RI?Fe�N?DFmKOe�T�\OJ@?DI?OBG@J@� WJDR?@� m� NmK?TBmRm� TLNJDOJ'� 4L@� B?Dm\CJCpO?@D?@?RGMIp�L|�mT�=?DO?FDIO?��?oRLDEJ'�1E�TFmKOmRI�NBJS�?FCL�5OBL�Ce��HFLRJEJ��BGF?RUMm?CGBmFp��FJTCLFLEJ��CL@�BLMmUEL��EFGBKJEJ�p�}?�CL@�CLRG|JEI�DL@?DEmSCL�5OBL�CL'�2mK�WLDK?NJEe�CGT@mCC?�EFGBKJEIp�}?�FmC�eEmO�T�dGBF?C?��LB@m�p�o?�CGH?WG� F?UFLEJp� LRG� FJBFLFD\� Tm� DR?F?@g� �<?E� m� N?NLR�'XLCKJEDIOJ@J�?WJ@L�KJFR\WJDI�CL�CLDp�TLOBJWLFg

*�0LOe�E?�@LEIp�oLCKmEDIOL�DF?R?W��`�FL@�CmWfF?�Cf�DOL|e�PL�B?KmCep�TL�4ELRmCL�Cf�|LRO?�e@mBLEI�''

���

2?� OmRIO?H� KC\H� N?\FJR?D\� OmRIOL� QBeN� o?RI�GFJMIOJHDELB�JCp�}?� FGDI� WLD� FJNJEeUEI� TL� EJ@� omSMG@'�2B?F?K\EIEBeDJp�K?NJEJp�L��KGO?Q?�S�N?oJRJp�DOBmTI�B?TFmKeUEI�EL��eOLUEITL�CJ@p�EFGBK\EIp�}?�MG�KGTGBEJBp�?KCLO�DL@m�B?T�eOJ�S�CLQRmB?TNJEJ�NmKEFGBKJRJp�}?�F?CJ�FEBLEJRJ�K?oB?Q?�B?TFmKLWL'�2?KF?H� KC\H� FmK+�HLRJp� L� F� DGRm� RJ�JRJD\�}G� KFL� R\SEGCLCEJ'<?CJ�H?K\EI�?oGBG|C?�FmK�HLEJ�K?�HLEJ'�=J�FGDI�WLD�DRmKOef@?TL� CJ@Jp� }?o� TCLEJp� OeKJ� F?CJ� TLSKeEI� CL� CmWRmQ'� AJEBmR\SEGCLCEJ�TLS�RJ�K?�?KCmf��HLEJp�TLWJCJRJ�KFGBmp�TLo?B?CJRJ|mCMm� FJH?KJEJp� L� DL@m� TLKCm@J� KFGB@J� FJS�RJ� m� TCJORJ� TCL�JH� ?WGS'

`OBLT�E?Km�NmTC?�FGBELRLD\�T�N?R\�?KCL�CL�L�K?oBL�TCLS?@Lpo?S?FL�KmFWJCLp�}?�DNmFNBLMUFLRL�T�CL@J�FGDI�WLD'�`�KLU��STLFKLCC\� NmEJ� @m|� HLEJ� S� B?TFmKLEJp� KG� TLOFLBEJBeFLRJR\SEGCLCEJ'� 2BJ� E?@e� N?\DCJFp� }?� o?RI�GFJOJ� HJEB?DELBLUEID\�TLC?WeFLEJ�ELOp�}?o�CmHE?�NB?�MG�CG�TCLF'

=GEOL�KmFWJCL�OJCeRLg��PLBLT�oeKG�FDG�Q?E?FG�p�*�m�N?omQRL'PL� NmFQ?KJCJ� N?FGBELfEID\� S� OL|Gp�}?� F� ?KCmf�� FK?FJ� F?CLDEeOLRL�F�KFGBmp�L�F�HLEm�CG�DFmEJR?D\�S�FmOCL�oeRJ�TLFm�GCm'/\SEGCLCEJ� CLNGFC?� F� MmS� HLEm'� :LDO?WJEJ� CL� CJH� oeKG� CGEBeKC?'��BLCLEJ�CG�@?|CL�FOJCeEJp�o?�E?Km�TLQJCeEI�m�MJFmRICm'X?RI�GFJOJ�e@JDCG�TLo?B?CJRJ�FmKWJC\EJ�KFGBm�S�TLDR?CJRJFmOCLg� CL� FJNLK?Op� O?RJ� N?WeUEI� NmK?TBmRJS� BeH� NmK� HLE?UpoeKeEI�DEBmR\EJ'�`�NR\CeU�TB?oJEJ�TLDmKOe�omR\�HLEJ�F�N?EmWOeS�WGOLEJ�DFmELCOe'�4Nm�e�K?�KBeQL�XeBRLOJ'�PCLS�?F�S?Q?p� mCGFK?FTm� @J� F|G� RG|J@?� F� N?E?Mmp� WGOLUWJp� O?RJ� BLCO?@

nk

FJSKeEI�o?RI�GFJOJ'�4GBNCGFm�C?Wm�H?R?KCmp�F?QOmDEI�T�N?EmWOLNB?S@LRL�EmR?'�=J�KBJ|LRJp�RG|LWJ�CL�TG@Rm'�8RG�}?�K?F�GRG|J@?p� E?� omRI�G� NBJTFJWLUf@?D\p� DELf@?� DN?OmSCm�m� SNGFCJ@J�DGoG'

<|G�DNmFLUEI�NmFCm'�<�DeDmKCmH�HLELH�BJNLUEI�KFGBm'�PjTLOe}JOL�EGBCJCJ�KJFJ@?D\�CL�FmOCLp�WJ�CG�?NLKLUEI�TLDR?CJ':LBG�Em�BJNCeRJ�TLKCm�KFGBm'

=J� N?WeRJ� W?R?FmWJS� OL�GRI� m� BmFCm� OB?OJ'�1Q?p� CL�m?WmOeFLCm� F|G� Nm�RJ'�:G� TFL|LUWJ� Cm� CL�}?p� OL|e� XeBRLMmTLomQLEJ�T�NBLF?Q?�o?Oe�HLEJp�L�\�NmKe�T�RmF?Q?p�m�T�B?QmF�HLEJoeKG@?� oJEJ� N?� CJH'� 0mRIOJ� @J� K?omQRJ� K?� HLEJp� L|� EeE� CL@GCG�TL�\OJH?DI�KFL�OB?OJ�FJRLTJEI�@?DOLRI'�1KCmfU�K?FQ?UWGBQ?U�NGBGHBG}eU�S?Q?�CLFTK?F|p� FLRU�CL� TG@RU'�_BeQJS@?DOLRIp�}?�}G�CG�KmDELF�WGBQJ�FmK�XeBRLOJp�DEBmR\f�F�@GCG'dGBQL�NGBGoJRL�@GCm�RmFe�OJ�GCU'�7LNE?@�FNLF�TjTL�HLEJ�N?DEBmR*� m�@?DOLRI�TFLRJFD\'�2?DEBmR�oeF�CG�T�22ap�L� T�Be�CJMm'2mKomQLU�K?�@?DOLRmFp�TLoJBLU�22ap�L�XeBRLOL�OR\CGp�CL�Wm@DFmEg

*�0Lp�TCLfEGp�@mS�CLomS�DELF�e�MmFMmp�m�\�Cm\O�CG�@mQ�S?Q?FJE\QCeEJ'

*�AE?�|�DEBmR\F�:mHE?�CG�TCLf'�P�DmCGS�FJQR\KLUEI�NGBGR\OLCm�DeDmKJ'�2?RG@

T�CGN?OBJE?U�Q?R?F?U�om|JEI�bLK'�5Dm�Ke@LUEIp�}?�MG�CLDEeNo?RI�GFJOmF'

Xm|J@?� K?� DeDmKL� N?� O?C\�S� FmTp�}?o� FJFGTEJ� EBeNJ'� 0LDELBJS�K\KIO?�*�N?CLK�N+\EKGD\E�RmEp�T�?Ne}GC?U�N?��ELC\HD?B?WO?Up�NLHOLf� RURIO?Up�BeOJ�F�OJ�GC\H�*�DL@�CG�H?WGFJKLEJ�O?C\p�EmRIOJ�H?WGp�}?o�@J�TLoBLRJ'�PjNmK�QeDEJHp�K?FQJHoBmF�KJFJFD\�CL�CLD�NBJ@Be|GCJ@�?O?@p�L�TL�RURIO?U�H?FLfeD@mH'�=J� B?Te@mf@?� Q?DN?KLB\g� o?�EID\p� }?o� WLD?@� HE?� TMJFmRICJH�CG�TBLKJFp�}?�KLFLF�O?C\'�4L@m�TLNB\QLf@?�O?C\� mFJF?KJ@?�F�N?RG'

2?FGBCeF�JD\p� K\Oef@?� TL� O?C\p� L� Q?DN?KLB� TLNB?�efTLSEJ� K?� CI?Q?� eFGW?Bmp� LRG� ELOp�}?o� CmHE?� CG� oLWJF'��?DIFL|RJFG� @Lf� CL@� DOLTLEJ'�=J� CLOLTef@?� DeDmKL@p�}?o� NB?FJNLK?O� CG� K?FmKLRJD\� DGR\CJ'� `O}?� NBJ�KeEI� o?RI�GFJOJpQ?F?BJEJp�}?�FKGCI�oeRJ�R\SEGCLCEJp�LRG�KG�N?KmRJD\�FC?Wm�*CG�TCLUEIp�o?��H�CG�oLWJRJ'

2B?E\Q?@� KC\� NJRICef@?p� WJ� CG� NmK+�KeEI� o?RI�GFJOJp� L

w�

eFGW?Bm�TLH?KJ@?�K?�E?Q?�DELBGCIO?Q?�Q?DN?KLB\'�<mC�TLORJOLFCLD�K?�FLCIOJBLp�DJC?Fm�CLOLTLF�DE?\EJ�CL�FLBEmp�NBJCmD�NmFRmEBLQ?BmROJp�WLDCJOp�HRmo�m�@LDR?p�CLRJF�WLBOe�S�OL|Gg

*�_LS�X?|G�TK?B?F+\�E?@ep�HE?�TLoJF�NGB�?Q?�o?RI�GFJOL':LRJFLf�KBeQep� m�@GCm�K?F?KJEID\�NJEJ�TL� E?Q?p�}?�FoJF

KBeQ?Q?'*�2JF�oJ�\�TL�E?Q?p�}?�FoJF�KBeQ?Q?p�LRG�HE?�MG�TB?oJF�*

CG�TCLU'b?DN?KLB� NGBGNB?�ef� CLD� CL� HFJRJCep� FJH?KJEI� CLKFmBp

FGBELfEID\p�NBJC?DJEI�O?B?EOe�B?DmSDIOe�Be�CJMU�S�OL|Gg*�1DI�TL�S?Q?�TK?B?F+\�NJSEG�_\Oef@?�Q?DN?KLBGFm�TL�K?N?@?Qe�m�NJELf@?p�W?@e�FmC�ELO

eDG�O?CDNmBef'*�8�\O�|G� mCLO�Gp�*�OL|G�FmC'�*�2?}?�DeDmKJ�@LUEI

TCLEJp� }?� \� DEBmR\F'� >� FLD� EGNGB� NB?�ep� CmO?@e� NB?� @GCGCmWJWJBO'� `� S?Q?� FoJFp�}?o� FmC� CG� FEmOp� o?� oeF� oJ� CLB?oJFHLRGNJ�CL�DGRm�S�FLD�@mQ�oJ�eoJEJp�KBe|G�XeBRLO?'

7LNE?@�TLDEeOLF�DJC�K?�FmOCL'�=J�FJDO?WJRJ�CLKFmB'<� DGRm� WeEJ� QeO� LFE?@L�JC'� A?FLf@?� ToB?U� m� EmRIOJ� T

NmDE?R\@J�SKG@?�K?�FJoBLC?��HLEJ'�:L�CmW�TLOFLBEJBeFLRL�QBeNLo?RI�GFJOmF�F�K?Rm�CI?@e�OmCMm�DGRL'�2BJ�HLR?�T�CJ@J�OmRIOLFGB�CJOmF'�2GFC?p�TLFEBL�H?KJEJ@eEI�N?�DGRm'�<D\�CL�L�o?�FOLToJBLfEID\�TC?Fep�m�}G�CmWWU�FmKH?KJ@?�F�RmDp�CL�Q?Bo?Op�}?oDEG|JEJ� TL� DGR?@'� _GDI� ?NmFKCm� NBJomQLf� CL�L� B?TFmKCJM\� S?N?FmKLf�ELOe�N?KmUg

*�2BJ�HLF� ?KJC� o?RI�GFJO� K?� Q?DN?KLB\� @mC\EJ� O?C\'b?DN?KLB�Cm\O�CG�H?EmF�CL�MG�N?Q?KJEJD\p�LRG�@?DOLRI�eNGBD\po?� MG� �KR\� WLDEm�'� 7LKjCGjBLK� Q?DN?KLB� FmKKLF� DF?Q?� QLBC?Q?O?C\p�L�FT\F�O?RQ?DNCe��OLNep�NLB�JFep�ELOep�}?�RGKFG�H?KJEI'=?DOLRI� FmK+�HLF'� PL� OmRIOL� Q?KJC� mKG� OmRIOL� o?RI�GFJOmF� CLBGFmTmU�m�TLH?K\EI�K?�E?Q?�|�Q?DN?KLB\�EL�CLNLKLUEI�CL�CI?Q?p}?�FmC�FOBLF�FmSDIO?F?Q?�O?C\p�o?�<LCIOL�NmTCLF��DF?U�R?�LKI�'b?DN?KLB� FJNBLFK?FefEID\p�}?� �HCmS� E?FLBJ�� DJR?U� TLoBLFS?Q?�QLBC?Q?�O?C\p�L�TLRJ�JF�MU��OLNep�LRG�MG�CG�N?@?QR?'PLoBLRJ�O?RQ?DNCe�O?CJCep�L�Q?DN?KLB\�N?OLBLRJ�}G�F�K?KLE?O�EBL~?@�CL�KFL�RmEBJ�Q?BmROJp�o?�mCLO�Gp�\O}?�CG�TLNRLEJEIpF?CJ�S?Q?�TLNB?FLK\EI�K?�O?@mDLBL'

:GFK?FTm� Mm� o?RI�GFJOJ� TReWJRJD\� m� Nm�RJ� FQ?Be� DGR?@':LNmKNJEOe� TLS�RJ�K?�?KCmf�� FK?FJ� m� T�FLREeFLRJ� ��'�:L� ELOe

wq

FmDEOe�@J�Bm�JRJ� TB?oJEJ� TLDmKOe�CL� EJH� EBI?H'�dGOLf@?�CLOBLU�RmDe'�<|G��H�FJKC?�O?R?�?DELCCmH�HLE�Q?Bm�CI?Q?�OmCM\'6?RJ� o?RI�GFJOJ� NmKmS�RJ� NmK� DL@JS� RmDp� @J� FW?EJBI?HOJCeRJD\� TL� CJ@J'� <?CJ� CL� O?C\H� FmKoJRJD\� K?DJEI� KLRGO?'�?o�FO?B?EJEJ�H?W�EB?HJ��HCU�TeHFLRmDEIp�@J�N?DEBmR\RJ�N?CJH�m�N?FGBCeRJD\�CLTLK'

���

PF+\TOmF� T� OGBmFCJMEF?@� KLRm� CG� @Lf@?'�2mDR\� NGBGH?Ke~B?CEe�?KCm�Nm�RJ�T�D?EC\@Jp�L� mC�mp� TLO?CDNmB?FLCmp� DJK\EIN?�DGRLHp�CG�CLF+\TLF�J�TF+\TOmF'�2BJDEeNLf@?�K?�CLRLKCLCC\TF+\TOmF� mT� NmKNmRICJOL@J� K?FO?RJ�CmH� DmR'� >KGEID\� CL@� EeENGBGKeDm@�NB?�ToB?U�*�EBGoL����CGQLSC?�N?TC?DJEJ�S�N?H?FLEJpo?�o?RI�GFJOJ�DOBmTI����ToJBLUEI�N?�DGRLH'�=Lf@?�TFmDEOJp�}?F|G�TLoBLRJ�CLFmEI�KGOmRIOL�OeRG@GEmF'

�G�TL�KC\�SKe�DL@�K?�TCLS?@?Q?�Q?DN?KLB\�7'p�}?�|JFGNBJ�K?B?Tm�CLK�N?EmWO?@'�`�?K\QCGCJS�N?jDGR\CDIOJp�F�OJ�GCmNmDE?RI��0?OLBGFL��FmK�o?RI�GFJMIO?Q?�B?TFmKLWL�m�KFm��BLCLEJ'A?We�K?FmKLEJD\p�}?�C?F?Q?�F�DGRm�7'�0mRIOJ�NGBGS�?F�Q?B?KomR\� HLEJp� \O� TLNBJ@mEJF� |mCOe'� _JFJRLD\� CL� @GCGNGBGR\OLCJ@J� ?WJ@Lp� CG� OL|eWm� Cm� DR?FLp� HE?� F� HLEm'� :GNB?WeFLUWJ�CmW?Q?�TR?Q?p�\�FmKWJCJF�KFGBm'�PL�DE?R?@�N?oLWJFOmRIO?H�o?RI�GFJMIOJH�DELB�JC'�5Dm�FRmNJRJ�F�@GCG�?Wmp�LRGFH?K|e�D@mRJFJ@�OB?O?@p�CG�FmELUWJDI�T�CJ@Jp�OJKLU��LNOeCL�Rm|O?p�oGBe�CLKOBL\CJS�HRmop�Bm|e�S?Q?�m�OBJWe�K?�Q?DN?KJCmg

*�=LBJC?p�KLS��DEJ�b?DN?KLB� F� OeHCmp� N?WeF�J�@mS� Q?R?Dp� FmKBLTep� B\EeUWJ

DJEeLMmUp� NJELfg*��GKUp�T?BLF�*� 8� CLS� E?� �R\O� EBL~JEIp� }?� \� CL@eWJFD\p� RGKFG

DNLDOeKJF�XLoL�CLRJRL�DEBLFJ�S�CGDG�K?�Emf��Om@CLEJp�KG�o?RI�GFJOJp

LRG�Q?DN?KLB�OBJOCeF�CL�CG�g*� 6eKJ� CGDG�p� EL� HLS� mKG� DUKJ� �DEJp� oLWJ�p� }?� EL@

O?@LCKJBJ�`� Nm�?F� K?� OeHCmp� DmF� K?� DEBLFJp� L� Q?DN?KLB\� N?ORJOLRJ

o?RI�GFJOJ'*�cE?�OE?�ELO?S�*�0L�E?�@mS��FL�GBp�*�FmKN?FmF�E?S�DN?OmSC?'

w.

`�CG�@?|e��DEJ�FmK�HFJRUFLCC\'�dGBGT�FLCIOJB�FJH?K|eCL�N?KFmB+\p�oGBe�O?CGS�Q?DN?KLB\�EL��Ke�F�N?RG'�X?RI�GFJOJH?EmRJ�@GCG�}?DI�NJELEJp�LRG�Q?DN?KLB�DOLTLFp�}?�\�F|G�N?�HLF':LKFGWmB�K?CIOL�E?Q?�Q?DN?KLB\�KLRL�@GCm�TCLEJp�}?�o?RI�GFJOJFmK+�HLRJ'

*�PCLfEGp�KJBGOE?BGp�*�OL|G�Q?DN?KLBp�O?RJ�\�NBJS�?FK?�CI?Q?p�*�}?�Em�o?RI�GFJOJ�@LRJ�?H?Ee�FLD��MLNCeEJ�'�<JK?oBG�TB?oJRJp�}?�FmKBLTe�FmK+�HLRJ�TFmKDmR\'

*�0BeKC?p�*�FmKN?FmF�S?@e'�*�`�oeF�NGFCJSp�}?�F�FLDDN?OmSC?p� o?�|?KC?�� FLBEJ� NmK� HLE?U� CG� oeR?p� L� O?RJ� F|GTLS�?Fp�E?�Q?Km�oeR?�EmOLEJp�@eDmF�BJTJOeFLEJ'

b?DN?KLB�FK?F?RGCJSp�}?�CG�EmRIOJ�\p� LRG�S�FmC�FJS�?FMmRJS�T�omKJ'�b?DEJEI�@GCGp�L�N?Em@�?N?FmKLfp�}?�@?��O?RJ�CmeWGCJMm�F�DGRm�7'p�L�@m|�CJ@J�/GD\�EL� ���oBLE��GKIO?p�@LUEIoLQLE?� CLToJBLC?�� L@eCmMm�p� Be�CJMI� m� EBJ� �@LODJ@J�'X?RI�GFJOJ� F|G� B?oJRJ� F� CJH� BGFmTm�p� oJRJp� LRG� CmW?Q?� CGK?FmKLRJD\'��GKIO?�NmK�WLD�~B?CE?FJH�KmSp�O?RJ�Cm@Mm�TB?oJRJTLDmKOe�@m|�DGRL@J�6'� m�2'�CL�o?RI�GFJOmF�EL�FoJRJ� �H�}?DIN?CLK�Y�p�}G�NGBGK�Cm@M\@J�TLoBLF�T�N?R\�o?U�EBJ��@LODJ@J�m� TLO?NLF� �H�e� QC?U'�PL?H?WGCJS�ELOJ@J�FmDEOL@Jp�\�eHFLRJFNmEJ�DI?Q?KCm�FC?Wm�T�>FLDG@�N?�MU�ToB?U'

���

:mW�oeRL�Ke|G�EG@CL'�=J�TLS�RJ�F�DGR?'�<�?KCmS�TCLS?@mSHLEm�@GCm�N?FmK?@JRJp�}?�F�DGRm�DN?OmSC?'�XeR?�Ke|G�EG@C?p�m�\CLDO?WJF�omR\�MGBOFJ�CL�LFE?@L�JCe'�2GO�E?omp�OeKJ�\�TLRmT�2?EJHGCIOep�CLF�NJCIOJ�?KJC�TL�?KCJ@p�HJRIMG@�NGBGH?KJ@?WGBGT�K?B?Qe'�2?�B?FLHp�Wef@?p�DNR\EI�o?RI�GFJOJ'�=J�TLS�RJDUKJ�CGN?@mEC?p�LRG�WJ�FJSKG@?�*�HE?�TCLf'�_GDI�@LUEI�oeEJFLBE?Fm'�<?FW?U�H?K?U�mKG@?�NB?DE?�K?�Q?Bm�CmH�HLE�mp�CL�}LDE\pCG� TeDEBmWLf@?� CmO?Q?'� 4EeOLf@?� K?� ?KC?Q?� DGR\CJCL'� 6?RJ|mCOL�N?oLWJRL�CLD� WGBGT� FmOC?p� N?EJHGCIOe� FJS�RL� m� TBLTeN?WLRL� NRLOLEJ'�1E�}?SC?� TLoBLRJ� oLEIOL� S� DJCL'�:LKFGWmBFGRJ�|LHRJFG�DRmKDEF?p�OLEeFLRJ�NBJORLKL@Jp�O?R?RJ�oLQCGEL@JpEL�F?CJ�K?�CmW?Q?�CG�NBJTCLRJD\'�0J@�WLD?@�OeTI@JCDIOm�N?R\OJTCLS�RJ�F�?omBCJOe�?KC?Q?��@LODJ@L�p�m�TL�EG��H�TLoBLRJ'

PLFEBL�EBGoL�DN?KmFLEJDI�C?FJH�LBG�EmF'��?o�CG�NB?NLRLTQB?@LK|GCL�ToB?\p�DE\QLf@?���p�CG�TFL|LUWJ�CL�EGp�}?�F?B?Qe�DGRm'�4FmK?@mp�mKGSCm�|mCOJ�K?N?@LQLUEI�CL@�FmKCGDEJ�ToB?U

w�

F�N?RGp�F�O?CU�JCe'��G�BLT�FGBELUWJDI�mT�ToB?fUp�@J�N?WeRJp}?� F� O?CU�JCm� HE?DI� O?DJEI'�2BJR\QRJ� m� DReHLf@?'� 7LNE?@oBGCIOCeRL�O?DLp�o?RI�GFJO�OJCeF�NB?ORmC'�1Q?p�NB?NLRL�CL�LToB?\��_LRm�O?D\EI�}G�mC�m�o?RI�GFJOJ'

AJRIMG@� FmKomQLf@?� m� NBJDReHLf@?D\� KLRm'� X?RI�GFJOJO?D\EIp�N?OL�RUUWJ'�<JKC?p� E?Sp�}?�oeF�CLSoRJ|WG�K?�CLDpCG�NGBGFmB\Fp�?o�}?�KTGCIOCeRL�O?DL'�_?�CLD�K?C?DJEID\�TLNLH@LH?BOJ'� 2?WJCLf� DmBmEJ'�=J� om|J@?� N?R\@J� N?NBJ� @G|ep}?o�K?NLDEJ�CL�JH�DH?F?O�CL�DEBm@O?@e�oGBGTm�@m|�EGBCJC?UF�QRJo?O?@e�N?E?Mm'

<KGCI� N?oLWJRJ� CL� N?Rm� K?WOe� Q?DN?KLB\� <'p� }?� NLDRLO?B?FJ'� 2?ORJOLRJ� ��p� N?NB?DJRJp� }?o� FJCGDRL� �DEJ� ELN?ORJOLRL� CL@� DF?Q?� DeDmKL'� _mFWJCL� FN?BLRLD\� �FJKO?gNBJCGDRL� @GKep� HRmoL� S� @LDRLp� EL� S� CL�� Q?DN?KLB� NBJS�?F'_?BeWLf@?��@�FGDEJ�B?TFmKOe�F�DF?f@e�DGRmp�L�ELO?|�e�DGRm�7'�ELK?C?DJEJ�CL@p�}?�KG�C?F?Q?�WeFLEJ'�5FGW?Bm�?N?FmKLUEI�CL@p}?� N?� DGRLH� OBeEJEID\� F|G� omRI�G� o?RI�GFJOmFp� e� <'� fF?fCO?@LE� m�:6<_p�}?� FJDJRLUEI� OmCCm� DEG|m� N?� N?R\Hp� L� FDGRLH� NB?F?K\EI� BGFmTm�� S� LBG�EJ'� 5� DGRm� 7'� ?KCmS� Q?DN?KJCmDOLTLF�\OJSDI�eOBL�CGMIp�B\K?FJS�dGBF?C?��LB@m�g

*�4OL|mEI� DF?�@p� HLS� D?om� FmTI@eEI� EGp� }?� DH?FLRJ� FO?CU�JCmp�}?o�o?RI�GFJOJ�CG�TCLS�RJ'

1E�WGDCJS�W?R?FmO���G�Emf��DL@?��C?Wm�ToB?Up�TLoBLCe�TO?CU�JCJp�KFJQLf@?�N?R\@J�F�oGTNGWCG�@mDMG'

4eDmKCm�DELCJMmp�N?FmK?@RGCm�CL@Jp�ELO?|�NBJDEeNJRJ�K?QB?@LK|GCC\� ToB?�'� 4E\QeUEI� L@eCmMmUp� Be�CJMmp� FJoeH?Fm@LEGBm\RJ�*�FDG�MG�oeKG�CL@�N?EBmoCG�F�KLRI�mS�o?B?EIom'

���

1KCmf��C?Wm�\p�XeBRLOL�S�>FLDI�mKG@?�K?�DGRL�b'p�}?o�TFmKEJDE\QCeEJ�ToB?U'�2BJS�RJ�@J�}G�TL�KC\p�TF+\TLRJD\�T�@mDMGFJ@JDJ@NLEJOL@J� �DELCJWCJ@p� \O?Q?�|mCOL� oeRL� N?RIOLp�*� S?Q?NmTCm�G�FoJRJ�N?R\OJ�'�:L@�N??omM\RJ�KLEJ�eFGW?Bm��@LODJ@L�pL�FKGCI�@J�Q?DN?KLBUf@?�omR\�B?ToJE?Q?�o?RI�GFJMIO?Q?�ELCOLp}?p�FJFGBCGCJSp�RG|LF�e�BmWMm��o?RI�GFJOJ�TL@mCeFLRJ�@mDEp�mCL� Em� @mCJ� FJ�HLF� �HCmS�|G� ELCO�'� <� BmWMm� CLToJBef@?� oLQLE?L@eCmMm�� K?� Be�CJMI� m� K?� 22ap� TLD@?RGC?�� F� oR\�LCOLH'<JOBeWef@?�OeRG@GEL��E?OLB�'�PmoBLCm�BGWm�NGBGC?DJ@?�F�Oe}mTL�BmWOe'

wZ

6?RJ�@J�TLS�RJ�K?�DELCJWC?Q?�FGWGB\EJp�F�DGRm�TWJCJRLD\EBJF?QLp�E?@e�}?�F�K?Rm�CI?@e�OmCMm�N?\FJRLD\�o?RI�GFJMIOLOmCC?EL'�2GBGomQLf@?�Q?B?KJ�S�BmOep�oGBG@?�ToB?U�m�SKG@?�FN?RG'� 7LNE?@� WeU� WFLR� OmCC?EJ'� AE?DI� FOLTLF� o?RI�GFJOL@�R\Hp�\OJ@�@J�Nm�RJ'�XeBRLOL�S�>FLDI�TLH?FLRJ�ToB?U�F�?FGDpL�DL@m�}?DJRJ�N?omQRJ�F�oRJTIOJS�RmD?O'�=GCm�MG�CL�Ke@Oe�CGDNLR?'� Xm|e� T� �@LODJ@?@�� CL� NRGWLH'�2mE� TLRJFLf� ?Wmp� E\QLBKLFJEIp�|JRJ�@LR?�}?� CG� EBmDOLUEI'� X?RI�GFJOJ� F|G� TTLKe@GCG'�6RLKe�CL�TG@RU��@LODJ@L���oGT�DELCOL��m�R\QLU�CL�TLQ?CJ'XmR\�@GCG�NB?S�?F�o?RI�GFJO�e�CLNB\@m�RmDOLp�EL@�F?CJ�FDmTLFGBCeRJ�S�N?R\@J�N?�HLRJ�KLRm'�=?��KBeTm�FGBELUEID\�T�RmDOLN?�ToB?Up�@J�DH?KJ@?D\�m�CGDG@?����L|�K?�DGRL�0'

<� DGRm� o?RI�GFJOJ� @LS|G�}?KGCC?� B?oR\EI� ?oRLFJ� TLC?F?oBLCM\@J'�<�dGBF?Ce�LB@mU�CmHE?�CG�SKG'�=J�N?FmK?@JRJDGRLp�}?�FJKLC?�CLOLT�CG�SEJ�CmO?@e�CL�o?RI�GFJMIOJS�~B?CEpL� NGBGH?FeFLEJD\� F� DGRLH� m� RmDLH� \O� HE?� @?|G'� 7?TRUWGCmo?RI�GFJOJ�?ToB?�RJ�N?R\OmF�m�BLT?@�T�CJ@J�QLC\UEI�N?�CL�JHDGRLH'�1KCmf�� C?Wm� 6'� Nm�?F� FmKFmKLEJ�|mCOep� m� N?R\OJ� S?Q?TLDEBGRJRJ�F�Ee�@JEIp�O?RJ�FmC�eEmOLF�WGBGT�FmOC?'�8BG�EeFLRJFmSEL� m� FJFGTRJ� CL� 4JomB'� <� DGRm� 7'� NmS@LRJ� O?RJ�CI?Q?F?R?DC?Q?� FmSEL� 6'p� m� N?RIDOJS� DeK� TLDeKJF� S?Q?� CL� q�� RmEF+\TCJMm'�_Be|JCL�6'�mT�45P�FJ�HLRL�CL�DHmK'

���

`O?DI�NBJS�RJ�o?RI�GFJOJ�CL�BGFmTmU�K?�oLEIOL�6LEBeDmF�Q?Bm�CI?@e�OmCMm�DGRL'�2?WLRJ�NGBGOJKLEJ�DC?NJ�F�DE?K?RmpCL� ?o?B?Tm� m� TCLS�RJ� EL@� OmRIOL� DELBJH� Be�CJMIp� \Om� EL@TLH?FLRJ�DEBmRIMm�T�D?ECm�OjBL�bB?@GCOL'�PLoBLRJ�ELO?|�O?CGSp}?�D?EC\�TLRJ�JRL'�0mRIOJ�CL��<eDLRIp�oLEIO?�6LEBeDmp�TB?oJFTL� DELSCGU��EeWCJS� RmD?Op� F� \O?@e� NGBGH?FeFLF� O?C\'�V?Q?CG�TCLS�RJ'�0BJFLRG�NGBGDJK|eFLCC\�F�DGRm�0'�*�K?DJEI�FL|OG�oLEIOL�6LEBeDm�FJFGTRJ�o?RI�GFJOJ�CGFmK?@?�OeKJp� m�DRmK�TLCJ@�NB?NLF�'�2GBGH?KJ@?�CL�NBJDmR?O�MI?Q?�DGRL'�0eE�@Lf@?omRI�G�RmDep�K?oBe�B?TFmKOe�m�TLEJ�Cm�G�@mDMG'

0GNGB�N?DEmSC?�H?KJ@?�FW?EJBI?Hg�XeBRLOLp�>FLDIp�0JEeD�m\'�_GO?RJ�NBJfKCeFLFD\�bLK'

`O?DI�0JEeD�Nm�?F�T�NmDE?RG@p�}?o�TRmOFmKeFLEJ�F?B?|?Q?B?TFmKLWL�F�DGRm'�XeBRLOLp�bLK�S�>FLDI�RJ�JRJD\�F�HLEm�NmK�RmD?@pKG� |JRL� ?KCL� KmFWJCLp� }?� DL@G� Nm�RL� T� B?TFmKO?U� NGBGK

w[

0JEeD?@'� `� TLRJ�JFD\� F� DGRm� S� FJDRLF� ?KCe� Q?DN?KJCU� CLB?TFmKOe�*�F?CL�@LRL�DF?\OmF�e�DGRm�<'�7LNE?@�N?\FJRJD\�@m|HLEL@J� o?RI�GFJOJ'� 2?oLWJRJ� @GCG� S� N?WLRJ� DEBmR\EJ'� `OJCeFD\� K?� HLEJp�}?o� N?NGBGKJEJ� HR?NMmFp� \Om� DL@G� R\QLRJDNLEJ'�P�NBJDmROL�K?�HLEJ�oeR?�@GEBmF�EBJDELjW?EJBJDEL'�4RmK?@TL�@C?U� om|JEI� EB?f� o?RI�GFJOmF'� <mKKLRI� @m|� CL@J�}?BLTO?B?E�Lp�m�F|G�O?RJ�\�oeF�NmK�HLE?Up�CLD�B?TKmR\R?�@GEBmF�DE?'<�HLEm�CG@Lf�CmO?Q?'�<DOLOeU�K?�DmCGS�m�OBJWeg

*�AR?NMmp�EBJF?QLp�o?RI�GFJOJ�2GFC?p�DNR\EI�m�CG�WeUEI'�:G�TFL|LUWJ�CL�EGp�}?�F?B?Q

e|G�NmK�HLE?Up�\�OJCeFD\p�}?o�B?ToeKJEJ��Hp�o?�FW?EJBI?H�@JFDGjELOJ� TCJ}J@?� OmRIO?H� o?RI�GFJOmF'� :L� Q?BJ}m� CmO?Q?pTLKCmH�KFGBGS�CG@Lf�*�K?FGKGEID\�EeE�NB?NLDEJ'�XmR\�DGoG�@LU22ap�NmDE?RI��E?OLB�p�KFm�B?DmSDIOm��BLCLEJ�m�EBJ��LfB�BLCLEJ�'

1KJC�o?RI�GFJO�RJ�JFD\�CL�B?Tm�HLEJp�L�KF?f�T�Q?E?F?UToB?fU�DELRJ�CL�N?B?Tm�S�OBJWLEIg

*�XLCKmEp�FJHLKm�6?RJ� N?DJNLRJD\� �HCm� WGBQJ� N?� KFGB\H� Om@CLEJp� \

NmKDeCeFD\� CLK� KmBe� NmK� OB?OFL@J� m� NB?DE?� CL� o?RI�GFJOmFDOJKLU�?KCe�DmWGCe��BLCLEe'�2?Em@�}G�KFm��LfB�BLCLEJ��*�K?DmCGS'�:LB?oJR?D\�oLQLE?�KJ@e'�0GNGB�\�TmDOLOeU�S�N?WJCLUEmOLEJ'�0BGEmS�o?RI�GFJO�N?WLF�N?�@GCm�DEBmR\EJ'�8RG�T�N?EmWOLFNLRL�WGBQLp�m�FmC�TFLRJFD\�CL�TG@RU'�<mK�@?�H��BLCLE�TLQJCeRJKF?f�o?RI�GFJOmFp�L�CL�K?N?@?Qe�@GCm�NBJomQ�T�RmDe�XeBRLOL�mFoJF�EBGEI?Q?'�1E�B?Te@mU�*�F?\O�m�KBeQ'

AR?NMm�FmKDEeNJRJ�T�HLEJ�F�Ee�@JEIp�O?RJ�N?oLWJRJp�}?�TL@C?U�|GCeEID\� o?RI�GFJOJ'� <?CJ� CG� Ke@LRJp�}?� \p� TL@mDEIomQEJ�K?�RmDep�N?om|e�K?�HLEJ'�<oJEJH�o?RI�GFJOmF�@J�TLE\QRJK?�RmDep�TLO?NLRJp�NGBGQR\CeRJ�ToB?Up�OBL}e�TLRJ�JRJ�D?omp�LQmB�e�TLH?FLRJ�EL�RmD?@�Nm�RJ�L|�NmK�DGR?�/'�X?RI�GFJOJ�FNBJDmROe� TB?oJRJ� EBeDp� NGBGFGBCeRJ� K?Q?BJ� C?QL@J� HLEep� F\OmS�oeF�omSp�mp�CG�DNLRJF�J���p�FmKmS�RJ'

�JEE\�N?WJCLf�CLD�FWJEJp�}?�CG�FLBE?�DJKmEJ�CLK�?KCJ@DGR?@'�:LSOBL}G�*�MG�BeH'�<mC�TLN?BeOL�eDNmHmF�EL�mDCeFLCC\'4ELRJS�BeH�NLBEJTLC�*�NmKDELFL��HCI?��ELOEJOJ�S�DEBLEGQm�'

���

2GBGS�?F�J� F� DGR?� /'p� @J� TLOFLBEJBeFLRJ� F� S?Q?Q?Bm�CI?@e�OmCMm'�_?�CLD�K?ReWJRJD\�@mDMGFm�HR?NMm'�0BJ@Lf@?

wY

FLBEep� m�CL��BmS�OFLBEJBef�NmK�?KCJ@�?o?B?Q?@'�<�DGRm�RUKJ@GCG�TCLUEI�T�MJFmRIC?Q?�DELCep�L�@mDMGFm�NmKNmRICJOJ�*�\ODF?Q?� O?RJ�CI?Q?� NB?FmKCJOL� T� WLDmF� Cm@GMIO?�� ?OeNLMm�'4ELFR\EID\�K?�@GCG�Ke|G�NBJHJRIC?'

1KC?Q?� N?N?ReKC\� Nm�?F� >FLDI� T� NmDE?RG@�CL� B?TFmKOe� FDGR?'� <E?@RGCJSp� DmF� omR\� @?R?Km� F� DLKe� S� TLDCeF'� 7LNE?@CGDN?KmFLC?�CLK+�HLR?�CL�O?C\H�KF?H�o?RI�GFJOmF'�_mEJ�S�KmFWLELN?FEmOLRJp�CG�ToeKJF�J�>FLD\'�X?RI�GFJOJ�N?QCLRJ�EeKJ�OmCI@Jm�NmS@LRJ�S?Q?�D?CC?Q?'�<mKBLTe�B?TToB?�RJp�TLOeFLRJ�m�N?QCLRJFCJT�DGR?@�N?NGBGK�DGoG'�_?�CLD�NBJomQRJ�KmEJ�T�N?FmK?@RGCC\@p}?�>FLD\�TLoBLRJ�o?RI�GFJOJ'�`�T�LFE?@LE?@�N?omQ�K?FmKLEJD\pO?RJ�S?Q?�TLoBLRJ'�2GB�L�|mCOLp�\Oe�\�TeDEBmFp�OL|Gg

*�<mK�CLD�\OJH�N+\EKGD\E�@GEBmF�o?RI�GFJOJ�\OBLT�FGKeEIS?Q?'

`�}?DJRJ� om|e� K?� HR?NMmF'� 8� K?� @GCG� NBJfKCLR?D\�}GEB?f�?H?ECJOmFjDEBmRIMmF'�P?�EBJ�OmR?@GEBJ�om|J@?�Q?B?KL@Jp}?o�FJNGBGKJEJ�o?RI�GFJOmF'�0J@�WLD?@�Em�T�O?CGS�N?oLWJRJCLD�TKLRGOL� m�N?WLRJ�CLQL\@J�oJEJ� >FLD\p�}?o�omQp� L�F?CJ�TLCJ@�CL�O?C\H'�=J� QCLRJD\�o�}G�KLRmp� EL�F�K?Rm�CI?@e�OmCMmDGRL�F?CJ�T+fKCLRJD\�T�omRI�?U�QBeN?U�o?RI�GFJOmF'

2?�MmS�NBJQ?Km�\�NGBGH?K|e�K?�DGRL�6'�5�Q?Bm�CI?@e�OmCMmNGBGoeFLf�}G� oLQLE?� Q?DN?KLBmF� mT� DGRL� 0'p�}?� FEGORJ� NGBGK~B?CE?FJ@J� Km\@J'�6BJUEID\� EeE� m� HR?NMm� FmK� @?omRmTLMm�� K?dGBF?C?��LB@m�'

2BJQLKLF�\�D?om�NDGFK?�@mDMGF?Q?�DELCJWC?Q?�}G�T�WLDmFCm@GMIO?��?OeNLMm�'�<mK�eOeU�S?Q?�m�T�CJ@�TLRJ�LUD\�F�DGRm'_e@LU� N?WLEJ� EeE� B?o?Eep� ?BQLCmTeFLEJ� @?R?KI� m� EF?BJEJDL@??o?B?Cep� o?� DOBmTI� o?RI�GFJOJ� CLNLKLUEI� CL� DGRLpQBLoeUEI�m�FoJFLUEI�DFmK?@JH�eOBL�CMmF'

���

`� TC?Fe� TeDEBmFD\� T� XeBRLO?U'�2BJS�?F� K?� @GCG� EL� SOL|Gg

*�`�oGT�FLD�EGNGB�H?K|ep�\O�oGT�Q?R?FJ'�4e@C?�@GCmp�L�TFL@J� N?WeFLUD\� NGFCJ@� DGoG'� >KmEI� EB?HJ� K?� @GCGp� EL@� F|GDN?OmSCm�G'

`�N?Q?KJFD\p�m�FFGW?Bm�@J�FJBe�JRJ�F�K?B?Qe'�7LNE?@�\N?WeF� DNmF� T� ?KCmf�� HLEJ� TL� N?EmWO?@'� =J� TeNJCJRJD\� mDReHLf@?'� �G� DNmFLf� PGCLjX?QKLCL'� <?CLp� NGBGEBLCDN?BEej

wn

FLF�J�NLBEJTLCDIOe�LNEGOep� TL@L�LTJCeFLRL� ��� F�OBJ�FOLH� mCL�WLD�NGBGH?Ke�~B?CEe�Nm�RL�K?�DGRL�0'�0GNGB�CeKIQef�DL@LoGT�TF+\TOmF'�4JKmRL�F�?KCmf��omKC?��|mCOJp�}?�NBJSC\RL����K?DGoGp� H?W� DL@L� CG� @LRL� }?� �DEJ'� ALBWeFLRJD\� EmRIOJOLBE?NRGU'

*�2mKG@?�FmKFmKLEJ���p�*�DOLTLF�\�K?�XeBRLOJ'2mKH?KJ@?� EJHGCIO?� NmK� HLEe�*� @J� H?EmRJ� ��� TR\OLEJ

o?RI�GFJMIOJ@J� OBJOL@Jp� LRGp� N?WeF�J� NmDCUp� TeNJCJRJD\TLDReHLCmg

G�����%��%/��)�(�������+������ ���� ������R ���1�����%/��(�����/R��)�%1�������'���������&�1��&�%����)���/��(����/����������/�&)�����%'����� �����R������&��������&(������ 0�'�����/ ���0� ���0�/��������&��� ����� �/E���&1���3������0� �/B�0���,�������� ��S+,�&..�0&�& &�3+/E���&���&�������+�R�0������& ������(�R/��)����(�(�/0� ��&������ �����/B����&���/$�-���.��&'�&�����/$��� ��!�.&&'� ������R��&����� �L� �&��

*�0L�O?oJ�DO?B?p�*�DOLTLRJ�@Jp�N?OLTeUWJ�Q?R?FJ�F�FmOCm'PGCL�TR\OLRLD\p�LRGp�N?oLWJF�J�CLDp�TBLKmRLp�TLNB?DJRL�F�HLEe'*�PLSKmEIp�o?�CeKIQeU'�dJ�F|G�TF+\TLRJD\�T�OGBmFCJMEF?@�*�2?OJ�}?�Cm'�5FL|LSEGp�}?o�FLD�WLD?@�HE?�CG�FDJNLFp

CG�DJKmEI�TLF|KJ�F�?KCmS�HLEm'*�`�NGBGSKe�K?�KBe|JCJ�XeBRLOJ'*� 0L@� CGoGTNGWC?'� 6BL}G� K?� ELO?�� HLEJp� KG� CG@Lf

W?R?FmOmFp�OeKJ�o?RI�GFJOJ�CG�@LUEI�N?EBGoJ�TLH?KJEJ'�5KGCICG�N?OLTeSEGDI�F�DGRm'

ww

*�8�}?�C?F?Q?�e�FLD��_Be|G�ABmCp�TL�FL@J�o?RI�GFJOJNJELUEI'

*�dJ�CL�NDGFK?�*�:mp�FL�G�NDGFK?�@LR?�HE?�TCLf'�2JELUEI�CL�DNBLF|Cf

NBmTFJ}G'*�XLom���HCmS�HBmC��ALS�NJELUEI'��?o�CLBG�Em�CLRLKCLRJD\

TF+\TOJp� N?WCG@?� FmSCe'*�deRL�\p�}?�FJ�FmKTCLWJRJD\'*�0L�}?�T�E?Q?p�O?RJ�>FLDI�CL@�NB?NLF'>�@J�B?TN?FmRJ��Sp�\O�E?�oeR?'�2?Q?F?BJF�Jp�TLoBLRJ����T

D?o?Up�}?o�FmKFmKLEJ�NB?~GD?BL�b'�T�45P�EL�KF?H�|mC?O'�1KCLT�CJH�*�@LEJ�4EGN?F?�p�}?�F�D?ECm�OjBL�A?@J'�P�CJ@J�}G�EeE���oBLE�dGBG@?�'

<FmWRJFm� N?RELFMm� NBJSC\RJ� CLD� Q?DEJCC?p� TLNB?DJRJ� CLo?B}'�2?FGWGB\F�J�BLT?@�T�CJ@Jp�\�NB?N?CeU�FDm@�FJSEJ�CLQ?Bo?O� omR\� HLEJp� }?o� WLD?@� eC?Wm� CLD� EeE� CG� TLDEeOLRJo?RI�GFJOJ'

�mOLFL�oeRL�B?T@?FL�T�NB?~GD?B?@�eCmFGBDJEGEe'�7?TOLTeFLFMmOLFm� BGWm� NB?� o?RI�GFJOmFp� L� TQ?K?@�@J� NGBGS�RJ� K?� EG@J~B?CE?FJH�KmS�EL�NB?oeFLRJ�NGBGKoLWJEJp�}?�NBJCGDG��H�OmCGMI'1KCm�T�CLD�DN?KmFLUEID\p�}?�NmDR\�NB?FLRe�:m@GWWJCJ�KmSKG�K?TeKLBe�@m|�8@GBJO?U�S�o?RI�GFJOL@Jp�L�NB?~GD?B�eFL|LFp�}?@eDJEI�oeKG�NGBGKJ�OL'�`O�K?FQ?�F?CL�EBJFLEJ@Gp�N?oLWJ@?'

7?T@?FR\RJ� @J� K?� NmTCI?�� C?Wm'� 2?NB?}LF�JD\� mTTCLS?@J@Jp�FmKNB?FLKJRJ�PGCe�CL�NGFCe�OFLBEJBep�L�DL@m�Nm�RJFmKFmKLEJ� BmKCU�='p� \O?Q?� LBG�EeFLRJ� o?RI�GFJOJ� BLT?@� T@mDMGFJ@�eWJEGRG@�m�FJFGTRJ�CGFmK?@?�OeKJ'�<��HCI?@e�DeDmKDEFmLBG�EeFLRJ�ELO?|�Ke|G�mKGSCe�KmFWJCep�}?����m@GCm�CG�NL@+\ELU'2mDR\� LBG�EeFLCI� DGR?� KG}?� T@mCJR?D\g� RUKJ� CLFWJRJD\O?CDNmBeFLEJD\p� @GC�G� oLRLOLRJ� NB?� CGN?EBmoCGp� Q?F?BJRJEmRIOJ�T�NGFCJ@J'

���

2mDR\�KF?H�KCmF�\�N?FGBCeFD\�K?�DGRL�/'��G�DGR?�@J�NmTCm�GCLTFLRJ��2mDCGU�'�:LTFLRJ�S?Q?�ELO�E?@ep�}?�MG�oeR?�?KCG�TCLSOBL}JH�DmR�F�?O?RJMm'�=mDMGFm�RUKJ�oBLRJ�LOEJFCe�eWLDEIe� FJTF?RIC?jBGF?RUMmSCmS� o?B?EIom'� 0eE� NmTCm�G� QeBEeFLRJD\CL�m� N?FDELCMm'� _LFCm�G� DGR?� MG� oeR?�@LR?� DFmK?@G'� 8RG� TLCm@GMIO?�� ?OeNLMm�� OmRIOL� @mDMGFJH� HR?NMmFp� @m|� CJ@J�='6'p

wk

}?�S?Q?�NmTCm�G�FoJRJ�WGBF?Cm�N?R\OJp�eDFmK?@JRJ�S?Q?'�4GR?oeR?�Ke|G�@LRI?FCJWGp�K?FO?RL�NB?DE\QLRJD\�RmDJ'

��` UV��R%a���� ���]���U%��V!

�B?CE�NGBGDeCeFD\�KLRm'�<�@mDEGWOLH�m�F�N?RIDIOJH�DGRLHDEF?BJRJD\� DJRICm� o?�FOJ'� _?� CJH� K?ReWJRJD\� o?RI�GFJMIOmNLBEJTLCJp� FJDRLCm� � KR\� E?Q?p� }?o� DNmRIC?� CLNLKLEJ� CLeOBL�CDIOm�DGRLp�FJLBG�E?FeFLEJ�DFmK?@e�@?R?KIp�mCEGRm�GCMmUEL� ~mTJWC?� ��� FJCJ}eFLEJ'� :L�JH� F+\TCmF� eoJFLUEI� Lo?FJF?T\EI�CGFmK?@?�OeKJ'�0JHp�HE?�TjN?@m|�LBG�E?FLCJH�N?NLKGF�BeOJ�o?RI�GFJOL@p�FJDJRLUEI�CL�4JomB�Lo?�F��EBL~Cm�B?EJCL�~B?CE'�7?TQeOLCL�FeRJM\p�O?RJ�F|G�CG�@?|G�CmO?Q?�NmS@LEJpCLNLKLf� CL� DGRLp� OLEef�|mC?Op� KmEGSp� DELBJH� mp� CLQBLoeFLF�JFD\O?Q?�@LSCLp�TLoJBLf�S?Q?�CL�F?TJ�S�FGTG�F�DF?��DGRL'�2?WLRLD\DNBLF|C\��C?FL�KG@?OBLEm\�'�:L�m�DGRL�Q?B\EI'

PF+\TOJ� FDG� }G� CG� CLRLKCGC?'� :G@Lf� CLOLTmFp� C?FJHmCDEBeOMmS� m� FOLTmF?Op� }?� B?oJEJ'� :LQ?KL� oJEJ� F?B?QL�*TCL@GCJELp� o?� FmC� TF+\TLCJS� OBJFLFJ@J� o?\@J� CL�~B?CELHpDRLoOJS� CL� EJRLH'� :LDGRGCC\p� }?� K?Dm� oeR?� NLDJFCJ@DN?DEGBmQLWG@p�EGNGB�LOEJFC?�K?@LQLfEID\�?o?B?CJ'

`�TFL|eUDI�CL�FRLDCe�BeOe�?BQLCmTeFLEJ�CGFGRJOe�o?S?Fe?KJCJMUp�FJ�O?RJEJ����S�DL@?@e�CGU�OGBeFLEJ'�:L�L�B?o?EL@eDJEI� NLBLRmTeFLEJ� F?B?|m� Km�� S� NmKEBJ@eFLEJ� o?S?FJS� KeHCLDGRGCC\'

<GW?BL@J�ToJBLU�@mDMGFJH�HR?NMmFp�CLFWLU��H�NLEBm?EJWjCJH� NmDGCIp� TL?H?WeU� EF?BJEJ� DF?U� ?o?B?Ce� S� FmKoJFLEJF?B?QL'�0LO?|�mT�DELB�J@J�Q?DN?KLB\@J�NB?F?K|e�B?T@?FJtK?BLK|eU� CG� SEJ� CL� ~B?CEp� KG� o?RI�GFJOJ� NR\C?F?TLKe@eUEI� ~mTJWC?� FJCJ}JEJ� CL�G� DGR\CDEF?'� <JoBLF�JOmRIO?H� DFmK?@JH� HR?NMmFp� B?oRU� T� CJ@J� ELf@C?� DH?KJCJpCLFWLU� �H� O?CDNmBLMm�p� Q?F?BU� NB?� N?EBGoe� o?B?EIoJpNmK�O?RUUp�?TCLS?@RUU�T�BmTCJ@J�B?KL@J�ToB?��m�BLT?@�TCJ@J� DE\QLU� L@eCmMmUp� Be�CJMmp� \Om� EmRIOJ� F� DGRm� f':GTLoLB?@�F|G�@LU�F�DGRm�/'�?KJC�BmS�m�NmFB?\�*�F�DGRm�6'_?�NGB�?Q?�B?\�FH?K\EI�6LK?FoGMIp�=JHLDIp�4RmNJSp�6LBJSp7eKJSp�/JDp�8CKBmS�EL�}G�KF?fp�}?��H�NDGFK�CG�NL@+\ELU'�<DGRm� 6'� *� =JHLDIp� 4?C� EL� }G� EB?f'� PLFKLCC\� HR?NMmFCLRLKCLEJ�F�DGRm�DNBLFe�DEmS?O�m�CmWCJH�FLBE'�5�BLTm�CLNLKe

k�

F?B?QL�oeKG@?�S?Q?�LELOeFLEJ'�4GR?�/'� TF+\TLR?D\�T�/'�b'� m6'�m�F�BLTm�CLNLKe�oeKG@?�DGoG�FTLf@C?�FJBeWLEJ'

�?o�NBJHJRJEJ�K?�DGoG�F?\OmF�m�DGR\Cp�EBGoL�?BQLCmTeFLEJOmRIOL� FKLRJH� LOMmSp� FGDEJ� DGoG� TBLTO?F?p� ELOE?FC?p� oeEJ� CLDE?B?|m� �HCI?Q?� @LSCLp� SEJ� �@� T� K?N?@?Q?U� m� ?o?B?C?Up� mTTB?Te@mCC\@�m�N?BLK?U'�6?RJ�F?CJ�MG�N?oLWLEIp�oeKeEI�FmKKLCmCL@�MmRO?FJE?p�m�KLRI�L�NBLM\�NmKG�eDNm�C?'

���

P� B?ToJE?Q?� ELCOLp� }?� omR\� QB?@LKDIO?Q?� oeKJCOepFJOBeWef@?� OeRG@GE� �E?OLB�'�=mDMGFm� O?FLRmjDRUDLBm� S?Q?BG@?CEeUEIp� m� �@L�JCL� QBLf�'� 6LBJS� e|G� FJE\QCeF�=�jZ.p\OJS�eOBLF�e�o?RI�GFJOmFp�O?RJ�F?CJ�NJRJ�F�S?Q?�HLEm�@?R?O?pTLRJ�JF�J� MI?Q?� OeRG@GEL� omR\� OBJCJMm'� <mC� NmKDO?WJFpCGN?@mEC?�OJCeF�S?Q?�F�OBJCJMUp�L�DL@p�CGFGRJOJS�CL�TBmDEpN?RmT�F�HLEm�CL�NmW'�_?FQ?�B?ToJFLRJD\�o?RI�GFJOJ�TL�OeRG@GE?@pLRG�CLOLT��mEJ�FNGBGK��N?QCLF��H�KLRmp�L�OeRG@GE�TLRJ�JFD\�KR\CLD'�=Lf@?�KFL�22a�m�FmDm@�Be�CJMI'�4GR?�6'�@Lf�EBJ�Be�CJMmpDGR?�/'�*�W?EJBJ�Be�CJMmp�?KJC�22a�m�KFm�KGD\EJB?TB\KOJ'^�}G� Q?DN?KLBm� F� DGRmp�}?�@LUEI� ToB?Up� LRGp� CG� B?Te@mUWJFLQJ�m�N?EBGoJ����F�CL�JH�BeOLHp�KGB|LEIp�}?o�NmTCm��oeR?�TWJ@�H?KJEJ�CL�N?RUFLCC\'�2BJSKG�WLDp�m�F?CJ�DL@m�oeKeEI�CL@���KLFLEJ'�XmR\�F?fCCJH�?O?NmF�CLToJBef@?��BLCLEp�L@eCmMm�p�LN?�B?FLH�*��EGRGBj@mC�'

2GB�L�B?o?EL�T�@mCL@J'�1KC?Q?�N?N?ReKC\�\�oGBe�T�D?o?U?KC?Q?�DEBmRIM\�T�DGRL�/'�m�=JHLD\�T�DGRL�6'�EL�FEBmSOe�CLKFGWmBNmKDeFLf@?D\� RmD?@� T� �EGRGBj@mCL@J�� K?� Q?R?FC?Q?��R\Hep� CLDGBNGCEJCJp�}?�FJ}G�DGRL�/'�b'�:L��R\He�|FLFJS�BeH'�dGOLf@?pN?OJ�DEG@Cmfp�@?|Gp�BmK�G�oeKeEI��TKJEJp�L�E?Km�TLO?NLf@?�EBJ�EGRGBj@mCJ�p�NmK�DNmK�KL@?�E?R'

<|G� K?oBG� DEG@CmR?'� 7eH� CL��R\He� T@LRmF'� <mKFL|CJS=JHLDI��?KJCLOp�DJC�FK?FJ�T�DGRL�6'��K|L�LC?@�FJK?Foef�\@ep\� FORLKLU�@mCJp� L� KBeQJS�=JHLDI� DE?�EI� CL� DEmSMm'�=eDJEICLDReHeFLEJ�eFL|C?p� o?�@L�JCJ�CG� DFmE\EI'� PL�N+\EI� HFJRJC@mCJ�TLORLKGC?'�PLDJNLf@?��H�QRJC?U�m�N?KLf@D\�K?�oRJTIO?Q?RmDL'

9KeEI'''�deEJ�QeR�@?E?BmF'�1Hp�\OoJ�|�E?�FGTRJ�o?fNBJNLDJLo?� FJoeH?Fm� @LEGBm\RJp� }?� �H� MmfU� K?B?Q?U� WLDE?EBLCDN?BEeUEI�K?�~B?CEep�oeR?�o�TCL@GCJE?'

kq

�G�CG�NBJR\QRJ�@J�K?oBG� K?� TG@Rmp�}G�CG� TLDN?O?�R?DIoJEE\� DGBM\� FmK� B?o?EJp� K?� \O?�� @J� CG� TFJORJp� LRG� K?� \O?�BFLRJD\� mT� TLNLR?@p� \O� DEBL�CJS� oRJDO� m� FJoeH� NB?BmTLRJN?FmEB\'

b?DN?KJp�DRLFL�0?om�<EmOLf@?�}?DJRJp� CLWG� o� TL� CL@J� DE?� W?BEmF� QCLR?DI'� 5

FeHLH� KTFGCJEI� ELOp� }?� ?KJC� ?KC?Q?� CG� Wef@?'� <E?@RGCmpK?omQLf@?�K?�DGRL�m�SKG@?�DNLEJ�K?�DE?K?RJ'�:L�KBeQJS�KGCI�FRmDm� ?oRLFL'�=J� FJDJRLf@?� CL� B?TFmKOe�:LDEeCU� m�=LBJDUK?FmKLEJD\p�}?�C?F?Q?'�_mFWLELp�N?oLWJF�J�F�RmDm�o?RI�GFJOmFpN?FGBCeRJD\'�=Lf@?� ?KCe� FmKFL|Ce�@?R?KJMUp� N?DJRLf@?� ��'�mCOL� D@mRJF?� Nm�RLp� L� CLKFGWmB� FGBCeRLD\� S� DOLTLRLp�}?� FN?FmEB\�FJRGEmRL�o?RI�GFJMIOL�LFE?@L�JCL�T�L@eCmMmfU'

2GB�L� B?o?EL� FKLRLD\'� �G� @?�H� K?FmBGCJH� HR?NMmFTL?H?EJR?p�m�F?CJ�}G�omRI�G�TQeBEeFLRJD\�omR\�@GCG'�:LDGRGCC\mT� TLK?F?RGCC\@� ?N?FmKLR?� NB?� FJoeHp� FJQLKeUWJ� m� oLQLE?K?KLUWJp�\O�E?�TFJWLSC?�oeFLf'

���

<�DGRm�/'�b'�OFLBEJBeFLRL�o?RI�GFJMIOL�QBeNL�BLKJDEmF'�`NR\CeFLF� CLDO?O� CL� CG�p�}?o� TCJ}JEJ� BLKm?DELCMmUp� LRG� K?MI?Q?�oBLOeFLR?�@GCm�o?S?FJH�HR?NMmF'�6?RJ�BLKJDEJ�FJ�HLRJpNm�?F�\�EeKJ�T�=JHLDG@'

7?TFmKOL�KLRL�CL@�TCLEJp�}?�T�@mDEL�X'�CL�DGRL�WLDE?�FJ�TK\EIN?�KFLjEBJ�oLCKJEJp�}?o�CLDEBmR\EJ�OeBGS�F�Q?DN?KLBmFjeOBL�CMmFEL�TK?oJW�TLoBLEJ�T�D?o?U'�<KGCI�NGBGDJK|ef@?�CL�Q?BJ}m�F4?Cm'�6?RJ�N?WeRJ�F�DGRm�N?DEBmRJ�m�Q?DN?KJC\�DOLTLRL�CL@p�}?MG��Q?DEm��DEBmR\UEI�OeBGSp�FJH?KJ@?�CGN?@mEC?�T�HLEJ�F�N?RG�mN?KLf@?D\�FJ}G�DGRLp�KG�FKF?H�TLR\QLf@?'�=JHLDI�N?�?KC?@ep�L\� N?� KBeQ?@e� o?Mm� �R\He'� 1DI� e|G� SKeEI'� :L� B?FGBLH�*N?DEBmR\Cm�OeBJ'�2mKNeDOLf@?�oRJTIO?p�o?�H?We��H�FT\EJ�|JFMG@g

*�4EmS��7eOJ�K?Q?BJ�2GB�JS�TLEBJ@LF�B?FGBL�mp�TL@mDEI�NmKCGDEJ�BeOJp�HLNLf

Be�CJMUp� LRG� F� Ee� @JEI� \� NeDOLU� S?@e� T� LFE?@LEL� WGBQe'_BeQJSp�\O?Q?�BLCJF�=JHLDIp�OJKLf�B?FGB� m�FEmOLf�F�CLNB\@mRmDe'� 7?FGBJ� RL@Lf@?� m� ELO� TLRJ�Lf@?� T� OeBL@J'� _?� OJ�GCmFoJE?Q?�WmNR\f@?�OLBEOe�T�CLNJD?@g� ��L� QBLom|�eOBL�CDIO?Q?@LSCL�*� CL�L� TLNRLEL�'� PLoJBLf@?� Be�CJMU� S� FmKH?KJ@?RmDL@J�K?�DGRL�2'

k.

���

=?�� HR?NMm� ToJBLUEID\� TLF|KJ� FFGW?Bmg� QBeN?U� H?KJ@?N?�DGRm'�:L�KGCI�TFJWLSC?�FDm�B?TH?K\EID\�K?�DF?f��NBLMm�N?K?@LH�m�EmRIOJ�CL�FJNLK?O�EBJF?QJ�@LUEI�TomQLEJD\�F�e@?FRGCG@mDMG'�<J�OmR�\�NB?F?K|e�FGW?BL@J'

2?RIDIOm� o?�FOJ� B?TTeHFLRGCm'� 9TK\EI� F|G� @GC�J@JQBeNL@Jp�TCLUWJp�}?�F�EGBGCm�CG@Lf�|?KC?��CL�?��?ToB?fC?�QBeNJ'�_?�DGRL�/'�\O?DI�CG�N?OLTeUEID\'

1KC?Q?�KC\�NBJ�HLF�e�QLBC?@e�N?F?Tmp�TLNB\|GC?@e�KF?@LW?BCJ@J� OmCI@Jj�NLOL@Jp� o?RI�GFJMIOJS� R\SEGCLCE� TLN?DELFO?U�@+\DL'�2?RLQ?K|eUWJ�DNBLFJ�e�D?REJDLp� TL�HLF�CLTeDEBmW�K?�@mDMGF?Q?�DGOD?ELp�\O?Q?�@J�F|G�NmK?TBUFLRJ'�XGBeHR?NMmF�CL�NGB�e�B?o?Ee�F�DGRm'

PLDmKLf@?�CGKLRGO?��O?RJ�m�|KG@?'�6?RJ�oBJWOL�NmK+�HLRLCLFNB?EJ�CLDp�\�FJDO?WJF�m�OBJOCeFg

*�7eOJ�K?Q?BJ�=?DOLRI�@LF� �NLNL�Oe��@m|�C?QL@Jp� H?EmF� FH?NJEJ� ��'� `

FJDEBmRJFp�m�FmC�E?Km�NmKCmD�BeOJ'�XGBG@?�S?Q?�|JFMG@'�:L�N?FmT�\CLOLTLF�DmKLEJ�HR?NM\@�EL��HLEJ�FmKBLTe�F�N?RG'�>T�D?o?U�TLoJBLf@?FmTCJOL�eOBL�CM\'�_?NJEeU�N?R?CGC?Q?p�LRG�R\SEGCLCE�*�KGDI�mT4JomBe�*�CG� NBJTCLfEID\'�_?ORLKC?� NGBGQR\KLU�S?Q?� E?BoepTCLH?K|e�TLNJDOJp�L�@m|�CJ@J�NBmTFJ}G�Q?DN?KLB\�/'

*�PFmKOJ�EJ�S?Q?�TCLf���*�NJELU'=?FWJEI'� PLE\FD\p� m� @J� FmK� CI?Q?� CmW?Q?� CG� K?FmKLRJD\'

�?o� CG� FNLRL� NmK?TBL� CL� DGR?� e� TF+\TOe� mT� TCJOCGCC\@R\SEGCLCEL� EL�}?o� CG� N?NLF� e� omKe� FmTCJOp� eORLKLU� ELOJSNR\Cg�?KJC�DEBmRGMI�NGBGoJBLfEID\�F�@eCKJB�R\SEGCLCELp�DmKLfF�N?FmTp�L�FmTCJO�@Lf��HLEJ�T�CJ@�}?DJRJ�WGBGT�DGRL�/'�m�6'p�KGCLQ?Bm�F�RmDm�@J�mT�TLDmKOJ�?oDEBmR\f@?��H'�<mTCJO�FEGWGp�L�@JTLoGBG@?�O?CGS�m�N?FmT'�2mK�WLD�DRmKDEFL�o?RI�GFJOL@�FmTCJO@Lf�DOLTLEJp�}?�CLNLK�oeF�e�RmDmp�L�}?�DELR?D\�T�R\SEGCLCE?@�mOmCI@Jp�CG�TCLfp�o?�FEmO'�<�BLTm�K?NJEmF�e�DGRm�*�F�?KC?@e�SKBeQ?@e�*�DOL|eEIp�}?�R\SEGCLCE��HLF�F�CLNB\@m�DGRL�/'

`O� eNR\CeFLRJp� ELO� m� TB?oJRJ'� 2?FmT� N?�HLFp� @J� S?Q??oDEBmR\RJp�FmTCJO�eEmO'�2?FmT�DNLRJRJp�eNB\|�m�O?CGS�TLoBLRJ'`�KLF� �H�NGFCJ@� Q?DN?KLB\@p�}?o�?oB?oR\RJ�D?omp� LRG�O?CGSCLOLTLF� EBJ@LEJ� F� RmDm'� <� DGRm� O?CGS� oBLOefg� ?KCJH� TLoBLRJCm@Mmp� mC�JH�o?RI�GFJOJp�L�DGR\CJ�CG�@LUEI�WJ@�?oB?oR\EJN?RG'

k�

�mRJS�EJ|KGCI�NmDR\�Mmf��TLDmKOJ�o?RI�GFJOJ��eOLRJ�TLDF?�@�R\SEGCLCE?@p�NB?F?KJRJ�K?NJEJ'�4GR\CJ� TmTCLFLRJp�}?FmC�N?�HLF�CL�6'p�F�6'�TmTCLFLRJp�}?�N?�HLF�CL�/'�<mTCJO�Q?F?BJFELOp� \O� @J� S?@e� OLTLRJp� m� FDG� NB?NLR?� oGT� DRmKe'� 2?DELFOL@+\DL�T�DGRL�CG�Nm�RLg�MG�CLSomRI�G�DGR\CL@�N?K?oLR?D\'

*�_?oBG�B?oR\EI�CL�mp�*�HFLRJRJ'

���

:L�L� QBeNL� FmKoeFLf� FJ�OmR� e� RmDm'� 2BJomQLf�:LDEeC\� mN?FmK?@R\fp�}?� F� DGRm��mDEI� o?RI�GFJOmFp� \Om� B?TNJEeUEI� TLN?FDELCM\@Jp�TL�ABmC?@p�o?�H?WeEI�FDEeNJEJ�F�NLBEJTLCOe'�<Dm?ToB?fCm�22ap�L�F�OJ�GC\Hp�\O�F?CL�TLNBJ@mEJRLp�@LUEI�NmDE?RmS��BLCLEJ'�̀ �FmKBLTe�K?QLKeUDIp�}?�@Lf@?�DNBLFe�T�o?RI�GFJMIO?UDNGMo?�FO?U'�XGBe��mDEI� DEBmRIMmFp� CLNGBGK�N?DJRLU�KmFWJCe� mSKe��eOLEJ�TL�CJ@J�N?�DGRm'�<?B?Q�CGN?@mEC?�TCJO'�1KCm�DGR\CJOLTLRJp�}?�o?RI�GFJOJ�Nm�RJ� F� N?RGp� mC�m�*�}?�N?KLRJD\� FCLNB\@m�DGRL�0'�`O}?�ELOp�DmKLf@?�FKF?H�CL�O?CGS�EL�NeDOLf@?D\F�N?Q?CU'�5�OBLSCmS�HLEm�DOLTLRJ�CL@p�}?�o?RI�GFJOJ�Nm�RJ�FRmD'�PLDmKLf@?�CL�B?TK?Bm||m�S�WGOLf@?'�0J@�WLD?@�o?RI�GFJOJCL�CLD�CG�FJS�RJ�m�N?KLRJD\�RmDL@J�F�CGFmK?@?@e�CLNB\@m'

:LKmS�RL� FmDEOLp� }?� F� DGRm� f� �QmDEI�� mT� DGRL� 6?BmCM\pNBJS�?F�K?�CLD�CL�B?TFmKOe'��I?Q?�W?R?F+\Qe�FJDRLC?�NR\C?F?T�@mDEL�X'p�}?o�FJFmKLF�EeE�FmK�DF?f��EmEOJp�DOmRIOJ�F�CLD�RUKGSpToB?��EL�HE?�CL@J�OGBef'�8�NBJS�?F�CmoJE?�TL�EUEUC?@'

���

=J�DELRJ�}G�?oGBG|Cm�J@J�S�CLOLTLRJ�DGR\CL@�DEG|JEJTL�FD\OJ@J�NGBGH?|J@J'

dLD�FmK�WLDe�FC?Wm�*�NGBGFL|C?�N?R\@Jp�L�FKGCI�RmD?@�m�BmKO?DGR?@��HmoL�}?�TLDOLOeUEI�N?�HLBWm��*�NGBGH?K\EI�eEmOLWm�T�~B?CEe'PKGomRI�?Q?� eOBL�CMm� T� PLHmKCJH�PG@GRI'�1KCm� SKeEI� QBeNL@Jp?ToB?fCmp�mC�m�oGT�ToB?�'�1KC?Q?�BLTe�TR?FJRJ�@?��HR?NMm�OmRIO?HoGT�ToB?�p�Ke@LUWJp�}?�MG�B?TFmKLWm'�2?Q?F?BJF�J�T�HR?NM\@Jp�\K?FmKLFD\p�}?�F?CJ�T�6LRe}JCJ'�_LF��@��OmM�@LB�BeEep�FOLTLF�JpOeKJ�CLSCGoGTNGWCm�G�NGBGH?KJEJp�HLBWm�CL�K?B?Qe�m�N?NB?}LFD\'

���

<� DGRm� 6'� HE?DI� DEBmR\F'� _?� CLD� NBJ�TKJEI� CL� O?Cm� ?KJC

kZ

DEBmRGMI� m� N?FmK?@R\fp�}?� CL� DGR?� CLNLRL� WGBF?CL� N?RIDIOLo?�FOL�*�W?R?FmO�EBJKM\EIp�F?CJ�o+UEI�m�QBLoeUEI'

`�NmKC\F�EBJF?Qep�m�@?��HR?NMm�T�eDmH�DE?BmC�mT�ToB?fU�TomQRJD\CL�TomBCJS�NeCOE'�:G�@JCeR?�S�NmFQ?KJCJp�\O�@J�oeRJ�Q?E?Fm'�_?CLD�K?ReWJR?D\�}G�OmRIOL�?ToB?fCJH�DGR\Cp�m�@J�BLT?@�Be�JRJ�CL?o?B?Ce�DGRL'�Xm|J@?�RmD?@p�}?o�NGBGE\EJ�QBLom|CJOmF�CL�K?B?Tm'

dGOLf@?�F�TLDmKMm'�8RG�N?R\OJp�TLNBJ@mEJF�J�CLDp�Nm�RJ�TCLQBLo?FLCJ@� @LSC?@� F� RmD'� =J� NeDEJRJ� TL� CJ@J� OmRIOLN?DEBmRmF�m�Tm�DNmF?@�NGBG@LB�eFLRJ�WGBGT�DGR?'�6?RJ�FGBCeRJD\pDGR\CJ�oeRJ�FK?F?RGCmp�}?�o?�FOL�FmK�CLD�FEGORL'

_?� CLD� Q?BCGEID\� FDG� omRI�G� @?R?Km'� 6?|GC� H?WG� @LEJDF?U� ToB?U'� _?� N?RL@LCJH� Be�CJMI� K?B?oR\f@?� NBJORLKJpDE\QLf@?�FmSDIO?Fm�NLDJp�CLNRmWCJOJp�E?BoJ�CL�HRmop�@eCKJBJ'`� H?We� T� Mmf�� @LRGCIO?�� QBeNJ� TB?oJEJ� FmSDIO?Fe� ?KJCJMU'4GR?�N?RUoJR?�@GCGp�L�T?OBG@L�@?�H�HR?NMmF'�<DmR\Om�DFLBOJpO?R?ECGWm� F� DGRm� \� @eDmFp� CL� oL|LCC\� DGR\Cp� B?ToJBLEJpN?RLQ?K|eFLEJp� DR?F?@�*�oeEJ� DeKKGU'� <?CJ� TFGBELUEID\� TeDm@L�DNBLFL@Jp�N?BLKL@J�S�DOLBQL@J'�6?|CJS�H?WG� Q?DEJEJ@GCG�F�DF?�S�HLEm'�2mK�WLD�?oRLFJ�E?WC?�mC~?B@eUEIp�DELBLUEID\K?N?@?QEJp�WJ@�@?|eEIp�N?FmK?@R\UEI�NB?�DF?��DH?FJ}Lp�KG�\@mQ�oJ�NGBGDJKmEJ�?oRLFe'�=mDMG�N?DE?U�T@mCUUp�}?o�WLD?@F?B?Q�CG�CLEBLNJF�CL�@?��DRmKJ'

`� O?BJDEeUD\� T� E?Q?p�}?�@LU� K?FmB+\� CLDGRGCC\� EL�}?T?BQLCmTeFLF� e|G� KG\Om� DGRL'� >T� DGR\CL@J� B?oRU� TmoBLCC\pTLORJOLU�NBJToJBeFLEJ�ToB?U�S�EF?BJEJ�DL@??o?B?CCm�FmKKmRJ'bBLo�TmoBLF�e|G�\OJH����HR?NMmFp�F�E?@e�WJDRm�OmRIO?H�|?CLEJH'9H�CLFWLf�PLRmDCJS'�<�DGRm�/'�f�F|G�qw�?ToB?fCJH�HR?NMmFp�EB?f*�F�DGRm�7'p�N+\EGB?�*�e�b'p�EB?f�*�e�/'p�EB?f�*�e�_'p�F�6'�*KGD\EI'�<mKoeFLf@?�BLT?@�T�CJ@J�TeDEBmWmp�DNmRIC?��O?RJ@?D\tNBJTFJWLUU��H�K?�ELo?B?F?Q?�|JEE\'

���

P�N?WLEO?@�FGBGDC\�qkZZ�B'�CLBG�Em�N?WLRJ�Km\EJ�TF+\TOJ'<�EGBGCm�N?\FJFD\�FmSDIO?FJS�TFGBHCJO�`FmBj2LDEGBCLO'�0GNGBEmRIOJ� EBGoL� TF+\TLEJD\� T� CJ@� EL� KmDELEJ� K?TFmR� FJoBLEJ� TjN?@m|�HR?NMmF�CLSOBL}JS�GRG@GCE� m� T?BQLCmTeFLEJ�FmSDIO?FeW?Ee'�1KCmf��C?Wm�2LDEGBCLO�ORJWG�@GCG�K?�DGoG'�`�B?TN?FmKLUNB?� FDU� DF?U� K?EGNGBm�CU� B?o?Ee� EL� N?KLUp� }?� N?WLF?BQLCmT?FeFLEJ� @?R?KIp� CG� WGOLUWJ� TF+\TOmF'� :GTLoLB?@

k[

NBJSKeEI�D?ECmp�m�\�H?We�FORUWJEJ��H�e�DORLK�528'�2LDEGBCLODHFLRJF�@?U�Km\RICmDEI�m�K?BeWJF�KLRm�FJ�O?RUFLEJ�@?R?KI'

`�oeF�BLKJSp�}?�@LU�TF+\T?Op� m� T�GCEeTmLT@?@�FT\FD\�K?B?o?EJ'''�<mK�HFJRJCJp�O?RJ�Nm�?F�e�NmKNmRR\p�@JCeR?�F|G�EBJ@mD\Mm'�:GoLQLE?p�LRG�m�TL�MGS�WLD�oLQLE?�@?|CL�oeR?�TB?oJEJ'`�FE\QCeFD\�F�B?o?Eep�NBJTFJWL�FD\�K?�NmKNmRIC?Q?�|JEE\p�NmTCLFS?Q?�K?oBm�S�TRm�DE?BmCOJ�m�F�Ke�m�@LF�@?BLRICG�TLK?F?RGCC\'aR\H�BGF?RUMmSC?��o?B?EIoJ�\�N?RUoJF�}G�F��OmRICm�B?OJ'<|G� F� YjmS� CLB?KCmS� OR\Dm� NmK� NDGFK?@� ��LN�� CLRG|LF� K?ELf@C?Q?�NRLDE?F?Q?�OeBGC\'�2RLDE?Fm�FLEBJ�m�TeDEBmWmp�TF+\TOJpQBJp�FNBLFJ�KLRJ�@GCm�oLQLE?'�P�E?Q?�S�O?BJDEeFLFD\�EGNGB'��\NBLM\�ELO�@GCG�N?R?CJRLp�}?�O?RJ�N?RIDIOL�N?RmMm\�NB?FGRL@LD?Fm�LBG�EJ�@?R?Km�S�oLQLE?�eWCmF�oeR?�FJOJCeE?�T�DGBGKCmH�OmR�EL�O?RJ�NGBGDELF�mDCeFLEJ�OeBmCI�DGBGKCI?�OmRIC?��@?R?KmpE?�S�E?Km�\�CG�@mQ�B?TDELEJD\�T�QeBE?FJ@p�KBe|Cm@�NRLDE?FJ@|JEE\@'� 0?@e� TB?KJRLD\� F� @GCG� Ke@OL� TLR?|JEJ� ELf@CJSQeBE?O�DGBGK�eWCmF�@?f���O?RJ'�_?�MI?Q?�QeBEOL�CLRG|LR?�CLDF?DI@GB?'�=J�}?Deo?EJ�Lo?�F�CGKmRU�ToJBLRJD\�CLK�BmWO?UpFWJRJD\�FN?B\Kep�NRLDE?FJH�TCLOmFp�FJWLRJ�mDE?BmU�5OBL�CJ�ELFRL�EeFLRJ�BmTCm�QBJ'�2BJ�E?@e�OeNeFLRJ�NmDE?RmjDEBL�LOJ�S�EJRGEJOJ� EL� B?TO?NeFLRJ� L@eCmMmU� S� �BLCLEJ�}G� T� WLDmF2GB�?�� DFmE?F?�� FmSCJ'� 2GBGKNRLWeFLRJ� NGBG@JDIOJS�5OBL�CDIOJS�b?R?D�p�WJELRJ�KBeO?FLCm�F�CI?@e�DELEEm'�2BLFKLpF?CJ�oeRJ�CL@�@LR?�TB?Te@mRmp�TLEG�CLD�Ke|G�MmOLFJRJ�N?RmEJWCmNB?MGDJ'�6?RJ�DOmCWJFD\��OmRICJS�BmOp�@J�B?ToBGRJD\�F�BmTCmDE?B?CJg�?KCm�Nm�RJ�F�BG@GDR?p�mC�m�*�F�DGBGKCm��O?RJ'�<mKE?Km@JCeR?�F|G�KGF+\ECLKM\EI�B?OmFt� T�@?�H� E?Km�CmH� KBeTmF� e|GFNLRJ�6?@J��m�aeFLBp�N?@?BK?FLCm�o?RI�GFJOL@J�F�qkZq�B?Mmp0JBDL�N?@GBp�L�}?�T�mC�J@J�*�CG�TCLU'�ALS�|G�M\�C?ELEOLDFmKWJEIp� WJ@� e� CLDp� @LRJH� KmEGSp� oJR?D\� QLB\WG� DGBMG'_FLCLKM\EJj� m� W?EJBCLKM\EJRmECm� � HR?NWLOJp� @J� Q?BmRJoL|LCC\@� FT\EJ� F� BeOJ� ToB?U� S� DELEJ� K?� o?B?EIoJ� TLeOBL�CDIOe�KGB|LFe'�6?RJDI�oeRJ�MG�@Bm�p�DI?Q?KCm�*�KmSDCmDEI'A?EmF�oJ�B?TN?FmDEJ�K?ORLKC?p�}?�KLRL�CL@�NmKNmRICL�o?B?EIoLTL�FDm�B?OJp�N?WJCLUWJ�}G�T�eWCmFDIOJH�WLDmF'�0L�WJ�oeKG�CLMG�WLD�m�WJp�\O�TFJWLSC?�@J�NB?�MG�Q?F?BJ@?p��K?WGOLf@?��

2J�eWJ� Mm� DN?@JCJp� H?K|e� NmK� TG@RGU� F� oeCOGBmg� EBJOB?OJ�FNGBGK�m�EBJ�CLTLK'�_JOEeUp�L�KmFWJCLjN?FDELCGMI�TLNJDefCL� @L�JCm'� PLNJEeU� DGoGg� WJ� KmSKeEI� Mm� DN?@JCJ� RUK\@� K?

kY

BeOp� WJ� N?oLWLEI� F?CJ� KGCCG� DFmER?'�=?|Gp� K?FGKGEID\� �HTCJ}JEJ�NmK�WLD�CLDO?Oe�F?B?QLp� Lo?�WJELEJ@G� �H�F?B?Q'�<DG?KC?� NJ�e� � KLRm'� 7?TN?FmKLU� NB?� NB?SKGCJS��R\H'�=?|GpO?RJDI�HE?DI�TL�@?�@J�C?ELEOL@J�FmKEF?BJEI�CL�m�T@LQLCC\'

���

2mKNmRICG�|JEE\� N?|FLFJR?DI'� <mKoeFLUEID\� TeDEBmWm� SCLBLKJ�T�NmKNmRICJ@J�ORmEJCL@Jp�To?BJ�CLDGRGCC\'�:?B@LRIC?OeBDeUEI� FmDEOJp� NBJS�RJ� B?TN?B\K|GCC\� S� mCDEBeOMm�'PLOJNmRL�NBLM\'

P�N?|FLFRGCC\@�NmKNmRIC?Q?�|JEE\�N?WLF�m�F?B?Q�@?CEeFLEJ@GBG|e� DGOD?EmFp� CLDJRLEJ� B?TFmKCJOmF� m� L�GCEmF'� <?B?|mB?TFmKCJOJ�NBJH?K\EI�F�DGRL�T�BmTCJ@J�DNBLFL@Jg�?KCm�oeMm@E?�eOLUEI� DF?�H� O?CGSp� mC�m� OeNeUEI� O?B?Fep� O?C\p� N?R?EC?pFKLUEIp�}?�EmOLUEI�T�~B?CEe�Lo?�N?FGBELUEID\�T�EUBG@'�<DmHEBGoL�K?ORLKC?�NGBGFmBJEJp�}?o�WLD?@�CGFJCC?�CG�N?EGBNmRJRUKJp�}?�CG�@LUEI�CmW?Q?�DNmRIC?Q?�T�L�GCEeB?U'

X?RI�GFJOJ�F�MI?@e�TCL@GCJEm�DNGMJ'�<?CJ�NmK�oeKIj\OJ@NBJF?K?@�DELBLUEID\�B?TFmKLEJ�\OCLSomRI�G�NB?�CL��BeH'

2?R\OJ� FGKeEI� DNBLFe� CG� Ke|G� HJEB?'� :G� @LUWJ�}Go?RI�GFJMIO?���O?RJp�CLRLKCeUEI�TF+\TOJ�WGBGT�eD\OJH�BmKCJHpNGBGH?|JHp�WLDE?�WGBGT�DGR\Cp�}?�NBJC?D\EI�K?�@mDEL�NB?KeOEJ'PFJWLSC?p�\O�\�F|G�TQLKeFLFp�@J�TLo?B?CJRJ�FmKH?KJEJ�mT�DmRoGT�N?NGBGKCI?Q?�TQ?R?�GCC\'�=J�K?oBG�TCLRJp�HE?�\O?Q?�KC\oeF�e�@mDEm� WJ�F�N?RIDIO?@e�DGRmp� TeDEBmWLFD\� T�N?R\OL@J�WJCLFmEI�T�o?RI�GFJOL@J'�<mKBLTe�K?NJEeFLRJ�ELO?Q?p�L�DGR\CJp}?�TLF|KJ�H?KJRJ�QBeNOL@Jp�B?TN?FmKLRJp�O?Q?�N?R\OJ�ORJOLRJCL�omO�m�T�OJ@�ELf@C?�B?T@?FR\RJ'

:L�N?WLEOe�FGBGDC\�K?�HLEJ�Q?DN?KLB\p�}?�|JF�omR\��O?RJpNBJS�RJ��mDEI�o?RI�GFJMIOJH�DGB|LCEmF'�d?EJBJ�T�CJHp�}?oeRJ�?ToB?fCm�LFE?@LEL@Jp�TLC?WeFLRJ�F�?KCmS�HLEmp�L�KF?f�*ELELBJC� m� eOBL�CGMI� T� ALBO?FLp� ?ToB?fCm� Be�CJM\@Jp�*� FDeDmKCmS'�1N?FmKLRJp�}?� FEmOLUEI� T�~B?CEep�}?o� FDEeNJEJ� FB\KJ�FRLDmFMmF'�PL@OCeRJD\�F�HLEmp�TLo?B?CJRJ�Q?DN?KLBGFm�oGT�HCI?Q?� K?TF?Re� O?Q?jCGoeKI� FNeDOLEJp� L� ToB?U� EBJ@LRJCLN?Q?E?Fm�omR\�DGoG'�4L@G�E?@ep�}?�F?CJ�ELO�K?oBG�?ToB?fCmpFJBJCeRL�NmK?TBLp�}?�MG�CG�GCOLFGKJDEJ'

b?F?BJRJ� DGR\CJp�}?� E?S� eOBL�CGMI�*� DO?@eCmT?FLCJSp@?FWJEIp�L�ELELBJC�CLBmOLf�CL�B?Dm\C'

kn

PFJWLSC?�o?�FOLBDIOJS�CLDO?O�OBL}G�FKLfEID\p�Cm|�CLNLKT� omRI�?U� QBeN?U� CGFJ�O?RGCJH� DEBmRIMmF'� <JSKG� TLSFLDEBmR\CJCLp� N?NLKeEI� CGFJCC?� S� DGR\CJp� EL� � @?|eEI� oeEJ|GBEFJ�DGBGK�DEBmRIMmF'�0?@e�Bm�LUD\�CLNLDEJ�T�NmDE?RG@�DL@'<JoJBLU� HLEep� F� \OmS� C?WeUEI� B?Dm\CJp� DEeOLU� K?� KFGBGS'<JH?KJEI�|mCOL�m�OL|Gp�}?�F?fCCm�TLo?B?CJRJ�FmKWJC\EJ�KFGBm'�?o�o?RI�GFJOJ�CG�TK?QLKLRJD\p�}?�EeE�}?DI�CGNGFCGp�CLTJFLU����Oe@?U��EL�NB?�ep�}?o�N?TJWJRL�@GCm�H?@eEL'�X?RI�GFJOJTLo?B?CJRJ�FmKWJC\EJ�KFGBmp�m�\�@eDmF�FmKmSEJ�T�CmWJ@'

2B?oeU�}LDE\�T�@GC�?U�QBeN?U'�aFJKO?�FH?K|e�K?�HLEJS� OBJWeg

*�7eOJ� K?Q?BJp� o?� DEBmR\U��ALEL� ?E?WGCL�N?FDELCM\@J�`O}?� FJ� FEmOLWm� T� ~B?CEep� E?� FL@� CmW?Q?� CG� oeKG'� A?WG@?NGBGFmBJEJ� K?Oe@GCEJ'

6L|e�FmKmSEJ� EJ@� KF?@� T�NmKCGDGCJ@J�BeOL@J�FmK� ToB?�pFmKOJKLU����CL�omOp�NGBG�eOeU�OJ�GCm�S�E?Km�OL|e��@�DmKLEJ�TLDEmR'�:GDN?KmFLC?�NBJS�?F�2LDEGBCLO�EL�6LK?FoGMI'�PCL@GCJE?�<?CJ�@GCm�K?N?@?|eEI�B?TToB?�EJ�NGB�e�QBeNe'�4ORLKLU�NR\C'5OBL�CGMI�DELFJEID\�K?�CLD�DEBJ@LC?p�L�ELELBJC�FmKBLTe�}JB?DEFGBK|efp�}?�B?Dm\CJ�oeKeEI�DEBmR\EJ'

<DG�?KC?�FKLEJD\�@eDJEIp�EJ@�omRI�Gp�}?�f�?H?EL�TK?oeEJ22a'�XGBe�T�D?o?U�ELELBJCL�S�e@?FR\UD\�ELOg

*�0J�oeKG��DEeOLEJ�NGB�JSp�L�O?RJ�HE?DI�T�B?Dm\C�NBJSKGK?�KFGBGSp�DOL|G�p�}?�MG�EJp�O?RJ�|�oeKG�NJELEJp�HE?�}G�TE?o?Up�DOL|G�p�}?�HLT\�C�H?WG�N?TJWJEJ�H?@eEL'�<mC�FmKWJCJEIKFGBmp�EJ�eFmSKG��NGB�JSp�L�\�TL�E?o?U'

>KG@?'�2LDEGBCLO� DELF� omR\� FmO?Cp� 6LK?FoGMI�*�CL� B?TmHLEJp�L�\�SKe�TL�ELELBJC?@'�0LELBJC�@GCm��GN?WGp�}?�o?�EID\DEBmR\CJCJp� o?� F?CJ� CGNGFCm� RUKJ'� <mC� T� CJ@J� TeDEBmFD\� N?K?B?Tmp� m� F?CJ� EGNGB� N?DEmSC?� EBJ@LUEI� S?Q?� NmK� CLQR\K?@'0LELBJC�DEeOLfg�BLTp�KFL'�5�HLEm�?omTFLFD\�Q?R?Dg

*�6E?�mKI?E�*�4F?Sp�LEOB?S��*�m�ELELBJC�N?KLF�DF?U��~L@mRmU�'*�6E?�f}?�*�ALT\�Cp� LEOB?S�`��GN?We�ELELBJC?Fmp�}?�CLS@GC�JS�S?Q?�NmK?TBmRJS�BeH

*� NGB�JS� KmDELCG� OeRU'�1KJC� T� B?Dm\C� FmKWJCJF� KFGBm� SpN?oLWJF�J� ELELBJCLp� N?FGBCeFD\p� L� @J� SKG@?� FDRmK� TL� CJ@'7?Dm\CJ�RG|LRJ�F�D?R?@m�CL�K?RmFMm'

kw

*�7eOJ�FQ?Be��:LS@GC�JS�BeH�*�DEBmR\U��ALEL�?E?WGCLN?FDELCM\@J��<L@�CmW?Q?�CG�oeKG'

0B?f� NmKC\R?� BeOJp� L� WGEFGBEJS� FH?NJF� LFE?@LE� m� H?EmFDEBmR\EJp�LRG�ELELBJC�OJCeFD\�K?�CI?Q?p�OBJWeWJg

*�XB?DI��8�E?�@J�FDf�NB?NLKI?@�_?�HLEJ�FomQLf�2LDEGBCLO�m�TL�HFJRJCep�O?RJ�F|G�S�KBeQJS

HLNLf�ToB?Up�FJoJFLf�S?@e����T�BeOp�FmKOJKLf�FDm�22a�CLomOp�L\�NGBG�eOeU�OJ�GCm'

7?TToB?�F�J� �Hp� K?NJEef@?'� 2mK� WLD� K?NJEmF� F� E?BomTCLH?KJ@?� CLQBLo?FLCG� N?R?EC?'� <mKDE?UU� NB?N?TJMmUELELBJCL� TCJ}JEJ� �Hp� LRG� 2LDEGBCLO� eFL|Lfp� }?� TNB?NL�LCKJFCJH�@mBOeFLCI�EBGoL�TFmRICJEJ��Hp�EJ@�omRI�Gp�}?f� ELOJS�CLOLT'� PLoJBLf@?� ToB?Up�CLOLTef@?� �@� DNLEJ� EeE� K?BLCOep�L�?NmDR\�FmKmSEJ'

0LELBJC�m�eOBL�CGMI�NGBGS�RJ�}G�Emf��|�C?Wm�F�K?Rm�CmSOmCGMI� DGRL'� <?CJ� CG� H?WeEI� @LEJ� CmW?Q?� DNmRIC?Q?� T� EJ@JB?Dm\CL@J'

<BLCMm� TmoBLRJD\� B?Dm\CJp� CLRL\RJ� Q?DN?KLB\@� m� ?omM\RJp}?�CGTLoLB?@�NBJSKG��H�omRI�G�m�DNLR\EI�TL�MG�DGR?'�6?RJ�@GCGNB?�MG�N?FmK?@JRJp�\�TmoBLF�HR?NMmF�m�OJCeFD\�TL�CJ@J�F�N?Q?CUpLRG�F?CJ�FEGORJ�NB?DE?�K?�X'�1E�@Lf@?�F|G�S��NB?NL�LCKe��

��ZT"RT�"�[�Z�"�[���"UV��S� ����$

<�NGB�m�KCm�FGBGDC\�\�KLF�CLOLT�DF?�@�46<�OFLBEJBeFLEJBLT?@�\O�FKGCIp�ELO�m�FC?Wm�NGBGFL|C?�F�RmDm'�1NmDR\�TmoBLF�FDmHe� RmDm� CLK� DGR?@� /'b'� CL� Q?Bmp� }?� @m|� FGBHCm@� OmCMG@� mRmDCJWmFO?Up�KG�|JF�0'�0eE�\�TB?oJF�NGBGQR\K�eDmH�HR?NMmF� m?BQLCmTeFLF� W?Ee'�=?R?KI� \� TCLU� K?ORLKC?p� m� E?� O?|C?Q?T?OBG@L'�0eE�K?ReWLUEID\�}G�HR?NMm�T�KF?H�mC�JH�DmR'�=?R?KIBLKmfp�}?�oeKG�@LEJ�DF?U�W?Ee�528'�:GTKmoCJH�\�FmKmDRLF�K?DmR�mT�TLFKLCC\@�OGBeFLEJ�DmRIDIOJ@J�FLBEL@J�EL�K?oJBLEJ�K?DGoG�C?FJH�HR?NMmF�m�EF?BJEJ�46<p�L�T�FJoBLCJ@J�TLORLKLU�FRmDm�EJ@WLD?FJS�ELomB'�<KGCI�NB?F?KJF�N?RI?FJS�FJ�OmR�m�FNBLFJpL� FFGWGBm� eN?B\KO?Fef@?p� K?N?FCUf@?� FJB\Kp� ToJBLf@?L@eCmMmU�S��BLCLEJ'�5@eCKJBeFLCC\�m�FTeEE\�e�DEBmRIMmF�Ke|GN?QLCG'�:LDGRGCC\� T� DmR� FOBLS�omKCGp� K?� E?Q?�|�N?QBLo?FLCGo?RI�GFJOL@J� S� o?�FOL@Jp� E?@e� CG� @?|G� TLoGTNGWJEJ� DF?�HF?\OmF� N?EBmoCJ@� ?K\Q?@� m� FTeEE\@'� 1K\Q� @?�H� DEBmRIMmF�*

kk

�TBmoCm��omRm��ELCJp�MJFmRICm�oRUTOJp�DmBLWOJ�S�RR\CL�omRJTCL'aLNOJ�Cm@GMIOmp�B?DmSDIOmp�L�F�KGO?Q?�*�OL�OGEJ'�<TeEE\�*KGBGF+\COJp�H?KLOJp�L�KGHE?�S�o?DJS'�4ELC�W?EJ�*����W?R?FmO'2GB�JS�B?S?FJS�PLRmDCJS�*�o?S?FJSp�mKGSCJS�m�OLBCJS�F?\O'_BeQJS�*�de@LOp�L�EBGEmS�*�6LB@GRUO'�5Dm�F?CJ�T�DGRL�/'b'

_R\� DNBLFC?DEJ� B?oRU�CmWCm� LR\B@Jp�@LB�m� RmDL@Jp�}?oCLFWJEJ�HR?NMmF�H?KJEJ�DEBmRGMIOJ@��QeDLO?@�p�EBJ@LEJ�TF+\T?OEL� NGBGKLFLEJ� CLOLTJ� N?� RmCm�'�:LSQmB�L� DNBLFL� mT� DEmSOL@J'AR?NMm�CG�F@mUEI�}G�K?oBG�?oH?KJEJD\�mT�ToB?fU'�_e|G�WLDE?NLKLUEI�FJNLKO?Fm�N?DEBmRJp�}?�TWJC\UEI�CGN?EBmoCJS�LR\B@'

:LSomRI�G� Em�JEI� @GCG� EGp� }?� F� HR?NMmF� f� TLNLRpTLK?F?RGCC\�EL�?H?EL�FWJEJD\�S�F?UFLEJ'

1KC?Q?�KC\�FmKFmKLF�@GCG�F�RmDm�`FmBj2LDEGBCLO� m�NB?FmFmCDNGOMmU�W?EJt�oeF�TLK?F?RGCJSp�}?�W?EL�@Lf�FJQR\K�FmSDIOL'0Lf@C?�DOLTLF�@GCmp�}?�CL�KC\H�NGBGSKG�DUKJ�D?EC\�OjBL�A?@Jp\OL�EGNGB�TFGRL�omS�F�RmDLH��0eBCJM\�'�<�MI?@e�o?U�TLQJCeR?�mDEI� N?FDELCMmFp� L� DGBGK� CJH� ?KJC� OeRG@GECJO� mT�45Pp�}?Ke|G�H?B?oB?�oJFD\'�X?RI�GFJOJ�@LRJ��.�W?R?FmO�eoJEJH'

���

qY�FGBGDC\�qkZZ�B?Oe�KmDELU�TLNJDOe�FmK�2LDEGBCLOLp�}?oCL�DFmELCOe�qw�FGBGDC\�K?ReWJEJD\�K?�D?ECm�OjBL�A?@J�F�DGRm0B?DE\CMm'�:LBG�Em�

_e@OJp�}?�TL�KFL�KCm�oeKe�F?\O?@�BmKC?��LB@m�p�TF?Be�eFLRJ@GCG� S� @?�H� HR?NMmF� K?� QRJoJCJ'� 7?oRU� TomBOep� FJQ?R?�eUNB?@?Fe� m� TLORJOLU� N?F?KJEJD\� TBLTO?F?p� NBLMUFLEJ� CLKD?o?Up� N?@LQLEJ� ?KJC� ?KC?@ep� oeEJ� OLBCJ@J� S� FmKFL|CJ@JpDELFJEJD\� ?KJC� K?� ?KC?Q?� N?jKBe|CI?@ep� oeEJ� FFmWRJFJ@JDeNB?EJ�DEBmRIMmF�mC�JH�W?E'�5�D?ECm�FJ�O?RGCm�F?\OJ�BmTCJHLB@mSp�F?CJ�oeKeEI�CL�CLD�KJFJEJD\�T�MmOLFmDEUp�\O�CL�C?FLOmF':G� NGBGS@LEJD\� EJ@p�}?�@J� N?QLC?� ?K\QCGCmp�}?� CG� @Lf@?T?FCm�CI?Q?�FJQR\Ke�FmSDIOLp�LRG�N?OLTLEJ�DF?fU�N?FGKmCO?UNmK� WLD� N?DE?Up� @LB�mF� m� T?OBG@L� F� o?Up� }?� @J� Te@mf@?K?BmFC\EJ��@'�P�WLD?@�@J�CLoGBG@?�ELO?Q?�FJQR\Kep�\O�DRmKp�ELEBGoL�NL@+\ELEJp�}?�CG�F�T?FCm�CI?@e�FJQR\Km�FLBEmDEI�F?\OLpLRG�F�S?Q?�FCeEBm�CmS�DJRm�S�QLBEm'

PFJWLSC?p�\O�C?FLOJp�N?CLNJHLRJ�HR?NMm�DF?��E?BoJ�HRmo?@p@LDR?@p�DJB?@p�EUEUC?@p�CLWG�o�m�RJ�OeKJDI�e�KLRGOJS�N?HmK':L�NB?}LCC\�NGBGK�FmKH?K?@�TmoBLRLD\�BmKC\�DEBmRIMmFp�O?|CL

q��

@LEJ�WJ�oLEIO?�TFGBELUEID\�K?�@GCG�T�NB?HLCC\@�?NmOeFLEJD\�HCm@J�DJCL@J'�:L�NB?}LCC\�DNmFLUEI�NmDCUg

4�0���B�& � ��������0 &�3+�����+/�����.)�&&������������/G� &�%�����%���%/0� ���������%0&�(�%5���,�%0� &�+�����������

4GR\CJ� NRLWeEI'� 0LO� TLF|KJ� oeR?p� f� S� oeKGp� O?RJ� DGR?FJB\K|LEJ@G�DF?�H�DJCmF�CL�FmSCe'�=?|Gp�HE?DI�DOL|Gp�W?@eK?TF?RJF�\�DNmFLEJ�\OBLT�MU�NmDCU'�d?@e�CG�DNmFLRJ�oLKI?B?��X?� NmDCU� DNmFLRJ� E?Km� @LS|G� FDm� DEBmRIMm� EJH� FmKKmRmFp� \OmNGBGH?KJRJ� WGBGT� ?O?RJMU'�2BJSKG� WLDp� m� F?CJ� TLDNmFLUEIo?S?FJH�NmDGCI'

2mTC?�FC?Wm�W?EL�Be�JRL�N?R\@J�F�CLNB\@m�DGRL�0'�<GKe���TCLS?@J@J�DEG|OL@Jp� L�}?�CG�@LU�QLDRLp� EmRIOJ�TLNJDOe�K?OjBL�A?@J�F�DGRm�0'p�E?�FJDJRLU�CLNGBGK�KmFWJCe�4EG~ep�}?oN?FmK?@JRL�TLDELFe�NB?�NGBGHmK�W?EJp�\OL�K?ReWLfEID\'

7LCCm@� BLCO?@� qw� FGBGDC\� F� KF?RLFm� FJRL�EeFLRLD\�@?\W?EL� F� Q?Bm�CI?@e� OmCMm� DGRL� NGBGK� HLE?Up� KG� NGBGoeFLR?O?@LCKeFLCC\'�2GBGKLU�TLNJDOe�DRe|o?F?@e'�2mK�HLE?U�DE?�EIDEmSO?FJSp�@?R?KJS�F?\O�e��?R?@m'�<mC�N?FmK?@R\f�@GCGp�}?SKG�O?@LCKJB'

*� d?ELp� DEBeCO?�� _Be|G� O?@LCKJB�� d?E?FJS� ABmCTQ?R?�ef�DFmS�NBJHmK�T�W?E?U�?H?ECJOmFjC?FLOmF�

*�_\OeU'�2B?�e�KLEJ��4N?WJCI��6?RJ� W?EL� DELCeRL� CL� �DN?WJCI�p� D?EGCCJS� CLOLTLF

FmKFGDEJ����CL�OFLBEJBJ�m�TLSEJ�K?��ELoe�D?ECm'6jB� A?@L�*� DGBGKCI?Q?� TB?DEep� QLBC?� ToeK?FLCJSp

NBJDEmSCJS� W?BC\FGMIp� EG@CL� o?B?KL� S� O?B?EOJS� FeD'� PeD@mHCGCJ@� RJMG@� KJFJFD\� FmC� CL� C?FLOmF'� A?W� T?FCm�CmSFJQR\Kp� @eCKJBJp� FTeEE\� S� ToB?\� CG� Ke|G� Em�JRJ� S?Q?p� LRGTK?B?FJS�NmKQmBDIOJS�GRG@GCEp�oLWJF�F?Q?CI�TLNLRep�}?�Q?BmF�F?WLH�?H?ECJOmF'�5�KFGB\H�m�FmOCL�MmOLF?�FJTJBLRJ�WRGCJ�O?@LCKJ'0LO?|� mT� DeDmKCmH� HLE� QBeNL@J� FJTJBLRJ� DEBmRIMm'� <Dm� QLBC??K\QCGCm�S�?ToB?fCm'

<mKNB?FLKJF�J� W?Eep� NBJH?K|e� K?� O?@LCKJ'� 2BJSC\RJ@GCG�FFmWRJF?� m� T� TLMmOLFRGCC\@'�6?|GC�NBJKJFR\fEID\�TjNmK?OL'� <� O?@LCKm� FNmTCLU� F|G� CG@?R?K?Q?� N+\EKGD\EJRmECI?Q?

q�q

N?FDELCM\p� mT� 45Pp� T� K?FQJ@J� O?TLMIOJ@J� FeDL@Jt� FmC� }GeWLDCJO� NLBEJTLCOJ� F� A?R?KC?@e� `Bm'� <GDI� WLD� H?KJEI� TKeoGRIEmFO?U'�_BeQJS�F�ELO?@e�|�FmMm�DLCmELBp�ELO?|�mT�45PpEBGEmS�*�FJD?OJS�OBLDeCIp�RmOLB�aeFLBp�WGEFGBEL�*�4EGN?FLpK?WOL�Emf��N?RELFOJp�}?����\�TeDEBmWLF�FRmEOe�F�DGRm�0'p�FmKFL|CLpB?Te@CL� S� o?S?FL� KmFWJCLp� N+\EJS�*� TLFT\EJS� OLFLRGBJDE� TK?FQ?U��LoRGUp�S?@e�\OJH�KFLKM\EIOmRIOL�B?OmFp�MG�*�<?Q?CImT�DGRL�4'p��?DEJS�*�NJDLB�D?ECmp�DeH?BR\FJSp�DOB?@CJS�_G@?'

PL� KG\OJS� WLD� NBJH?K\EI� W?E?Fmg� NGB�JS�*� DGBGKCI?Q?TB?DEep�T�o?B?K?Up�TLB?Te@mRJS�6BJF?CmDp�KBeQJS�*�FJD?OJSpEG@CJS�BeD\FGMIp�KFLKM\EJBmWCJS�>FLDIp�EBGEmS�*�DGBGKCI?Q?TB?DEep� OeWGB\FG� F?R?DD\p� DJ@NLEJWCJSp� FFmWRJFJS� m� K?oBJSF?\O�PLN?B?|GMI'

<�O?@LCKm�QL@mBC?p�FGDGR?'�d?E?Fm�BLKmRJp�}?�oeKG�omRI�GFmSDIOL'�6jB�A?@L�ORJWG�@GCGp�m�T�CJ@�\�?oQ?F?BUU�DELC�W?EJ'6L|G�@GCmp�}?�@?\�W?EL�oeKG�WGEFGBEL'�6?|C?@e�F?\O?Fm�EBGoLKLEJ�NDGFK?�m�T�WLD?@p�O?RJ�FDG�FN?B\KOefEID\p�NGBGKLEJ�N?m@GCCmDNJDOJ�DEBmRIMmF�NJDLBGFm�_G@?Fmp�}?o��H�TL�J~BeFLEJ'

:L�e�B?T@?Fe�NGBGBFLRL�W?BC??OL�6LD\p�TLNB?�eUWJ�CLDCmKLCC\'�XBLOeFLR?�@LDRL'�PCLUp�}?�F�@?�H�DEBmRIMmF�f�S?Q?K?DJEI'�2?FmK?@JF�W?Ee�*�m�OmRIOL�QLBCJH��QeD?O��@LDRL�DE?\R?CL�DE?Rm'�<Dm�T�LNGEJE?@�OJCeRJD\�CL�CI?Q?p�KGHE?�F|G�|LBEefp}?�@Lf@?��NB?Fm\CE?Fe�W?Ee�'�`�DNBLFR\Ug

*�:G�RJ�G��NB?Fm\CE?Fe�p�LRG�S�o?S?Fe�_GHE?� OL|Gp�}?� �E?�}G� FL|OL� DNBLFL�p� mC�m�*� �EBGoL

K?F�?Q?� FJ�O?Re�'� <�@?�S� ?o?B?Cm� DELf�4EGN?FL� m� K?F?KJEIp}?�T�ELOJH�?H?ECJOmFjC?FLOmF�CGBLT�CLSOBL}G�FmSDIO?'�8�@GCmTo?Oe�NmK�mNEefp�}?o�CG�|eBJEJD\�EJ@p�o?�NBJSKG�WLDp�O?RJ�\oeKe�Q?BKJEJD\�DF?fU�W?E?U'

4ELBJS�NLBEJTLCp�NDGFKL�S?Q?�CG�NL@+\ELUp�H?R?KC?\BmFGMIpK?OJKLfp�}?�FmC�@Lf�K?DFmK�NLBEJTLCDIOJH�o?�F�m�NGBGO?CLCJSp}?� CLSOBL}J@J� F?\OL@J� TLF|KJ� f� @?R?KJS� GRG@GCE'�2mDR\K?FQ?��B?T@?FJ�FmKH?K|e'�>Ke�K?�DF?�H�HR?NMmF�FmKN?WJFLEJ'

���

:L� DFmELCOe� .�� FGBGDC\� ToeKJRJ� @GCG� QeDEm� N?DEBmRJpOeRG@GECm�WGBQJ�m�FJoeHJ��BLCLE'�2BJomQLf�DEBmRGMI�m�TQ?R?�efp}?� MG� CLDO?O� o?RI�GFJOmF'�:LOLTeU� W?Em� CGQLSC?� TmoBLEJD\omR\�HLEJp�L�DL@�?K\QLUD\p�FJomQLU�CL�N?KFmB+\p�}?o�T?BmfCEej

q�.

FLEJD\� F� DELC?FJ}m'� <JDJRLU� TF+\TO?F?Q?� N?� CLOLTJ� K?O?@LCKJBL� D?ECm'

X?RI�GFJOJ� FJO?BJDELRJ� @B\WCe� CmWp� ?O?NLRJD\� CLNBLF?@e�oGBGTm�N?E?OL�CL�CGFGRJWOJH�Q?BoOLHp�?KCL�ELCOGEOLNmK+�HLRL�TL�@GEBmF�DE?�CLNB?EJ�HLEJp�KG�NGBGoeFLf�O?@LCKLp�mDE?�EI�CL�K?B?Tmp�}?�SKG�T�DGRL�0'�K?�DGRL��'�:J|WG�F�DGRm�*KBeQL�ELCOGEOL'�PLFKLCC\�NGB�?��ELCOGEOJ�m�EJH�o?RI�GFJOmFp}?�?O?NLRJD\p�oeR?�NGBGoJFLEJ�CLD�NGBGHBGDCJ@�F?QCG@p�O?RJN?WCG�CLDEeNLEJ�NmH?EL�T�K?RJCJp�L�@J�FmKDEeNLEJ@G@?�K?�RmDe'2GB�L�W?EL�F|G�oeRL�N?@m|�HLEL@J�F�DLKLH'�:LOLTe�}G�CG@Lf'=mBOeUp�}?� ?NLCeFLEJ� \OCLS�FJK�G� RmD�*�CLSomRI��NGOeWLDNBLFLp� E?Km� @?|CL� oeKG� FmKDEeNJEJ� W?EL@p� L� ELO?|� FJoJEJo?RI�GFJOmFp�}?� �H� OmRIOLCLKM\EI� TLR\QR?� F� RmDm'� 7?TQ?BELUB?TDEBmRICe�m�CLOLTeU�DJNCeEJ�F?QCG@�N?�RmDm�EL�CLDEeNLEJ'�<?Q?CIC?FLOmFp� H?W� CG� MmRICJSp� oeF� ELOJS� oLBLoLCCJSp�}?� BLT?@� mT@JEEfFJ@�CLDEeN?@�DEBmRIMmF�T@eDJF�o?RI�GFJOmF�FEGOEJ�T�RmDe'2BJE?@e�ELCOmDE�CG�N?@mEJF�CLDp�o?�FmF�KF?omS�mT�TLFT\EJ@�<?QCG@p}?�T�76=�TLRmQ�CL�WJDE?@e�N?Rm� m�OBG�G�N?�ELCOGEMm'�0L@�FmCpN?MmRGCJS�F?B?|GU�OeRGUp�m�TLQJCeF'�<�D?ECm�OLTLRJp�}?�TLRJ�JFKBe|JCe�m�KF?f�KmEGS'�_?�FoJE?Q?�<?QC\�NmKomQ�CLSFmKFL|Cm�JSF?\O�D?ECmp�6B?F�mT�4'p�TLoBLF�76=�m�FmKDEeNJF�TL�HLEJ'

<�RmDm�@J�TLSC\RJ�DELC?FJ}L�EL�NGBGC?DCJ@�F?QCG@�N?CLKHLEJ� o+f@?� N?� o?RI�GFJOLHp� }?� ?O?NLRJD\� CL� Q?BoOLH� ELK?�OeRIC?� ?oDEBmRUUEI� W?EJp� \Om� FmKDEeNLUEI'� qj�L� W?EL6BJF?C?DL�NB?BJFLRLD\�N?E?O?@�K?�RmDe�m�FmKDEeNJRL�F�CLNB\@mDGRL�:'�>C�m�W?EJ�FmKDEeNJRJ�K?�CLD'�4EBmRIMm�NBJCGDRJ�FL|O?BLCGC?Q?�OeR'�>@GCC?Q?�T�/'p�}?�FmKTCLWJFD\�F�E?@e�o?U'�6?RJFmKDEeNJRJ�W?EJp�o?RI�GFJOJ�N?WLRJ�CLDEeN'�0LCOGEOJ�Nm�RJK?B?Q?Up�}?o�FmKE\EJ�CL@��R\H�K?� RmDe'�2B?�MG�N?FmK?@R\UOjBL�A?@e�EL�NB?N?CeU�CGQLSC?�TFmKDJ�FmKDEeNJEJp�N?OJ�CL@CG�TL@OCeRJ�K?B?QJ'�0LCOGEOJp�NmK+�|K|LUWJp�CG�oLWJRJ�CLD�FRmDmg�@J�oeRJ�K?oBG�TL@LDO?FLCm'�6?@LCKJB�KLF�TQ?Ke�CL�@?UNB?N?TJMmU'�4ELC�CL�?��D?ECm�oeF�qw��RUKGSp�o?RI�GFJOmF�}?DImT�����EL�KFm�ELCOGEOJ'�:L�m�FEBLEJg�?KJC�eoJEJS�m�KF?f�BLCGCJH'<?B?|m�FEBLEJ�*�qY�FoJEJH'

:LD�NGBGDRmKeFLRJ�\OJH?DI�KFL�OmR?@GEBJ'�6?RJ�@J�TLS�RJF� D@GBGO?FJS� RmDp� F?B?Q� DEBJ@LF� N?Q?CU'�:?Fm� F?B?|m� DJRJp}?�N?WLRJ�CLK+�TKJEJp�TL@JOLRJ�MGS�RmD?FJS�@LDJF'

:L�Q?Bm�CGKLRGO?�='�@J�TLSC\RJ�C?Fm�DELC?FJ}L�m�WGOLRJ

q��

FGW?BL'�:L�m�DELC?FJ}L�oeRJ�CL�FGBHe�Yqn�@GEBmF'�`�FJRmT�CL\RJMUp�}?o�T?BmfCEeFLEJD\�F�EGBGCmp�OeKJ�o�E?�CLSOBL}G�FC?WmNB?FLKJEJ� D?ECU'

1DI� m� FGWmB'�:L� NBJDmR?O� \� FJDRLF� DF?Q?� W?EJBCLKM\EJjRmECI?Q?� B?TFmKCJOLp� DEB'� <mEB?Q?CLp�}?o� K?FmKLFD\p� KG� F?B?QORLDEJ@G�TLDELFJ�CL�CmW'�XeR?�ELO�EG@C?p�}?�F�RmDm�Q?Km�DEeNJEJOB?O'�=eDJ@?�NB?DeFLEJD\� EJHGCIO?'

0LO� T� EBeK?@�@J� NmKmS�RJ� CL� OBLS� RmDe� m� omR\� NBJDmROLTLR\QLf@?� EL� WGOLf@?� CL� <mEB?Q?CL'� <BG�Em� FmC� NBJS�?F'PLS�?F� K?� HLEJ� ?KCmf�� |mCOJp� W?R?FmOL� S� DJCL� \O?�� FoJRJo?RI�GFJMIOm�NLBEJTLCJ�}G�NGBGK�NGBGH?K?@�~B?CEe'��\�|mCOL*� N?RIOLp� F?B?|G� CLDELFRGCL� K?� o?RI�GFJOmF'� <mKFL|CJSB?TFmKCJOp�FKLUWJ�NLDEe�OL�T�DGRL�*�\�NBJoBLF�S?@e�m@+\�SeDEmSCJFp�WJS�CmoJ�FmC�DJCp�o?�DGR?�@GCm�TCLCGp�*�NGBGS�?FeFGDI�NBJDmR?Op�CLWJDRJF�q�[�o?RI�GFJOmFp�L�|mCOJ�B?TN?FmRJS?@ep�KG�B?T@m}GC?�TLDELFJ'

=mDMGp� KG� @LRL� oeEJ� TLDELFLp� F|G� oRJTIO?'� _?FQJS� CL�NLBEJTLCDIOJS� Fe|� DELF� F� RmDmp� L� \� m� O?@LCKJB� NmKDeCeRJD\CLDReHeFLEJp�WJ�f�o?RI�GFJOJ'�^��2GBG�mNEeUEID\�@m|�D?o?U'_GHE?�OeBJEI�F�N+\DEeOLH�*�F?Q?CI�FJKC?�OBmTI�NLRIMm'

1oGBG|C?�FGBELf@?D\�K?�D?ECmp�L�KLRm�OB?O�TL�OB?O?@pEJH?p� oGT� Q?@?Ce� SKG@?�}G� RmD?@p� NmKH?KJ@?� CL� eTRmDD\� mN?RG@� N?KLf@?D\� F� CLNB\@m� DGRL� 7'� P� CL@J� CGDeEI� FL|O?BLCGC?Q?� >@GCC?Q?'� _?� NGB�?�� HLEJ� CL� N?Rmp� KG� |JRJ� @?�eWGCJMmp�TLH?K|e�DL@�m�NB?�e�Q?DN?KLB\�NBJSC\EJ�BLCGC?Q?DEBmRIM\'�b?DN?KLB�N?Q?KJFD\'�2?eWeU�S?Q?p�}?�@Lf�Q?F?BJEJCL�FJNLK?O�NBJH?Ke�o?RI�GFJOmF'�6?RJ�oeKeEI�NJELEJD\�NB?BLCGC?Q?p�HE?�MG�ELOJSp�CGHLS�DOL|Gp�}?�DJC�?BLF�F�N?Rm�S�eFW?BL�CI?@e�o?U�oeF�BLCGCJS�OeRGU�NmKNmRICJOmF'�PL�DFmKOmFCGHLS�N?KLDEI�DeDmKmFp�T�\OJ@J�\�TLBLT�N?Q?F?BU'�7LCGC?Q?N?ORLRJ� F� @LRmS� Om@CLEmp� OLTLRJ� CLOBJEJ� RLH@mEE\@� mFNB?FLKJEJ� EeKJ� EGR\p� }?o� HLEL� DF?�@� FJQR\K?@� CGToeK|eFLRL�NmK?TB'�0?@e�}?�F�EGBGCm�N?\FJRJD\�o?RI�GFJOJpW?R?FmO� N+\ED?Ep� ?oGBG|C?� ?@JCLf@?� DGR?� 7'p� }?o� CLD� CGoLWJRJ� MJFmRICm'� =mDMGF?Q?�=eHe� N?DJRLUp� }?o� BLT?@� T@?�@J� eWGCJM\@J�CLToJBLF� HRmoL'

<K?DFmEL�@J�F|G�ELo?BeFLRJ�omR\�RmDCJWmFOJp�@m|�DGRL@J/'� m�6'�2BJH?KJEI�DEB'�=eHLp�NBJC?DJEI�HRmo� m�N?FmK?@RGCC\p}?�o?RI�GFJOJ�DNBLFKm�?E?WJRJ�RmDp�T�\O?Q?�@J�F|G�FJS�RJ'

q�Z

PFJWLSC?p�NmDR\�o?U�DEBmRGMEF?�F�K?oB?@e�CLDEB?U'�6jB�A?@LEG|�TLK?F?RGCJSp�}?�D?EC\�}LDRJF?�FJS�RL�T�?E?WGCC\'�6L|GW?E?FJ@�m�B?S?FJ@�TLSEJ�K?�RmDCJWmFOJ'�:LE?FNJR?D\�oBLEDEFLEBJ�N?FCm�Om@CLEJ'�PLQBJ@mRL�NmDC\�mp�TKLFLR?D\p�}?�DF?fU�DJR?UB?TDLKJEI� oeKJC?O'

b?DN?KJC\�oGT�?OBG@?Q?�NB?HLCC\�CLFLBJRL�N?FCm�oLC\OJ�TeNJ��m�N?Q?DEJRL�CLD'�4I?Q?KCm�FNGB�G�FNLR?�K?oBG�DR?F?�CLLKBGDe�@?f��Zj?��W?EJ'

_?�CLD�NBJS�RJ�@mDMGFm�N?FDELCMmg�Oe}'�bBLo�m�DELC'�XmROL'2BJCGDRJ� EB?HJ� HLBWmF'� dGBGT� KGCI� NGBGDJK|ef@?� F� RmDm� mNBJDReHLf@?D\p� \O� M?O?E\EI� F?B?|m� OeRG@GEJp� FJoeHLUEIB?TBJFJ�@mC?@GECJH� m� QLB@LECJH� DEBmRGC� e� EJH� RmDLHp� KG� @JFW?BL�oeRJ'�_GOmRIOL�KCmF�OFLBEJBef@?�F�DGRm�/'�b'p�L�TQ?K?@NGBGH?KJ@?�K?�DGRL�0'�=?��F?\OJ�NJ�LUEID\p�}?�NGBGH?K\EIBmKCm�DGRL�F�B\KLH�D?ECm'�>�@GCG�DN?FCUf�BLKmDEI�m�Q?BKmDEIg�@?�@Bm��UCJH�RmE�*�oeEJ�F?\O?@�BmKC?�� LB@m��*�TKmSDCJRJD\'�`DI?Q?KCm�W?E?FJS�528'

4ELBm� F?\OJ� NGB�JH� W?E� F|G� CG� NmKD@mHLUEID\� ELOp� \ONGBGK�o?f@p�EmRIOJ�T�NBJTCLCC\@�NmKOBGDRUUEI�KJDMJNRmCe� mFmKFLQe� Zj?�� W?EJp� }?� NmK� WLD� F?B?|?Q?� CLDO?Oe� �FJKO?TmoBLRLD\p� Nm�RL� CLDEeN?@�CL� RmD� m� ELOJ@� DN?D?o?@� TCJ}JRLNR\CJ� F?B?QL� ?E?WJEJ� D?ECU� EL� ToGBGQRL� ��� NGBGK� FEBLEL@J'<|G�F�NGB�?@e�o?U�T� F?B?Q?@�W?EL� TLDFmKWJRLp�}?�FLBEmDEIF?\OL�CG�F�QLBC?@e�@eCKJBmp�LRG�F�S?Q?�o?S?F?DEmp�FmKKLC?DEmpFNBLFm�EL�Q?E?F?DEm�oJEJ�F?B?QLp�H?W�CL�NRGWLH�EmRIOJ�DmB\W?OpL�CL�C?QLH�KGBGF+\COJ'

<�DGRm�0'�D?EC\�TLOFLBEJBeFLRL�B?\@J�N?�HLELH'�_LRGO?�CLK?B?QLH�FJDeCeE?�CL�m�TLDELFJp�L�B?TFmKCJO�D?ECmp�TLOLBNLEGMIpFJDRLF�K?�DeDmKCmH�DmR�@mDMGFJH�KmFWLE�m�HR?NMmFp�}?op�CL�FJNLK?ONmKH?Ke�F?B?QLp�DF?fWLDC?�S?Q?�N?FmK?@JRJ'

_Cm�@JCLUEI�DN?OmSC?p�o?�F?B?Q�}G�CG�N?NLF�CL�CL�m�DRmKJ'<FGW?Bmp�e�FmRICm�HFJRJCJp�SKe�FmKFmKLEJ�TCLS?@JHp�@mDMGFJH

eWJEGRmF'�2GBGK� CLNLKL@J� N?R\OmF� NGBGH?FefEID\� EeE� ELO?|eWJEGRIOLp� @LEJ� 8BNLKLp� EL� ��� K?WOL'� =GCG� NBJFmELRJTLNJELCC\@Jp�}?�C?F?Q?p�\O�F?C?�oeKGp�WJ�K?FQ?�}G�K?FGKGEID\|JEJ� F� N?DEmSC?@e� DEBLHe� NGBGK� CLNLKL@J� N?R\OmF� mo?RI�GFJOmF'� 2?Em�LU� �H� \O� @?|e'� <?CJ� NGBGO?CLCmp� }?omKeFLEJ� ELO� K?FGKGEID\�}G� T� BmOp� LRG�@?\� Ke@OLp� \O?�� �@�CGTBLK|eUp�NmKOLTefp�}?�CLoLQLE?�K?F�G'

q�[

2mTC?�FC?Wm��N?FGBELUD\�CL�DF?U�OFLBEJBe'�<�DGRm�EJHGCIO?pWeEJ� EmRIOJ� BmFC?@mBCJS� HmK� CmWCJH� DEG|p� L� CL� OFLBEJBLHoRJ@LUEI�NBJOBeWGCm�OLQLCMm'�<mSDIO?�DNJEI'

=?\�W?EL�TomRI�JRLD\'�:LRmWef�[w�RUKGS'�_?�CG��K?ReWJRJD\HR?NMm�T�DmR�='p�/'p�`'p�7'�m�<'�2GB�JS�B?S?FJS�m�@mS�TLDEeNCJO*�DELBJS�F?\O�<LCIOL�mT�45P'

5DmH�B?�F�EGNGB�W?EJBJ'�XBLOef�@GCm�}G�KF?H�OeRG@GEmFp�LE?Km�@LEJ@e�F�O?|C?@e�B?��N?�KFL'

2BLMm�}?BLT�omRI�G'�A?W�\�T�W?E?FJH�CLSDELB�JS�FmO?@pLRG� W?E?U� O?@LCKeU�}?SC?� OmRIOL� KCmF'�=e�e� NBLMUFLEJCLK� D?o?U'� <� oLQLEI?H� FJNLKOLH� K?N?@LQLf� @GCm� |JEEfFJSK?DFmK� m� FJ�OmR� e� FmSDIO?FJH� ELo?BLH'� �?o� NmKE\QCeEJDEBmRGMEF?p� }?� OmRIOL� KCmF� T@mCUU�@mDMG� OFLBEJBeFLCC\� FB?\H'�2GBGH?K|e�T�?KC?Q?�K?�mC�?Q?p�L�CLSK?F�G�NGBGoeFLUF�CLSDRLo�?@e�B?�'�4NRU�BLT?@�mT�DEBmRIM\@J�CL�D?R?@m�EL��@EG�DL@Gp�}?�S�F?CJp�KGO?RJ�*�T�?KC?���KeCOJ'�_mRUDI�EUEUC?@pFNB?FLK|eU�LE@?D~GBe�KBe|oJp�NB?F?K|e�WLDE?�B?T@?FJ�ELKLU�FOLTmFOJ'�/UoRUp�O?RJ�DEBmRGMEF?�FGDGRGp�DNmFLf�NmDCm�S|LBEef'

1KC?Q?� BLTe� NBJomQLf� CLS@?R?K�JS� DEBmRGMI� W?EJpB?TFmKCJO�<mEB?Q?Cp�mp�CG�oLWeWJ�@GCGp�OBJWJEIg

*�AR?NMmp�omKLp�DEBmR\UEI�<Dm�TmBFLRJDIp�FH?NJRJ�TL�ToB?Up�L�FmC�OL|Gg*�dGOLSp�WGOLSp�EL�\�}G�CG�DOmCWJFg�CL�~B?CEm�DEBmR\UEI'<Dm�L|�FmKKJHCeRJ'�2?oLWJF�J�@GCGp�N?WGBF?CmF�m�TQ?R?�efg*�_Be|G�O?@LCKJB��4EBmRGMI�<mEB?Q?C�?oKeBJF�BmS'*�8�W?@e�MG�EJ�ELO�B?oJ��*�A?We�CL�JH�KF?H�DEBL�OmF�NBJTFJWL�EJ�K?�LR\B@?FJH

FmDE?O'`�TFGBCeF�S?Q?�eFLQep�}?�ELO�B?oJEJ�CG�@?|CLp�o?�O?RJ

DNBLFKm�oeKG�LR\B@p�E?�FDm�oeKeEI�Ke@LEJp�}?�MG�HE?DI�?oKeBUf�H'

7?Te@mUWJ� FGRJOG� FJH?FCG� TCLWGCC\�NmDCmp� FWe� DEBmRIMmFDNmFLEJ� BGF?RUMmSCJH� m� F?\MIOJH� NmDGCI'� _?BeWLU� B?S?FJ@ELO?|�CL�OFLBEJBLH�FWJEJ�ELOJH�NmDGCI'

2B?HLBWeFLCC\�Zj?��W?EJ�F�E?S�WLD�oeR?�CLSOBL}G'�=mDMGFmDGR\CJ� NmTCLRJ� EeEG�CmH� HR?NMmFp� BLKmUEIp�}?� f� F|G� F� E?@eEGBGCm�DF?\�W?ELp�m�?oKLB?FeUEI��H�WJ@�@?|eEI'�P?OBG@L�KmFWLELNB?F?K\EI�BLK?�TomBOJ�KR\�W?EJ'��?o�e�DEBmRIMmF�CG�TB?KJRLDI

q�Y

TLQe@mCO?FmDEIp�K?BLK|eU�B?S?FJ@�KmRJEJD\�HLBWL@J�T�mC�J@JW?EL@J'� 7?S?Fm� TLNB?�eFLRJ� B?S?FJHp� DEBmRIMm�*� DEBmRIMmFpQ?DEJRJ��H�m�TLEmDCUFLRJ�KBe|Cm�FTLf@JCJ'

���

q[� m� qY� |?FEC\� OFLBEJBeFLRL� CL�L� D?EC\� F� DGRm� `'� _'1DELCCmS� KGCI�@?\� W?EL� oeRL��EeB@?F?U� m� OFLBEJBeFLRL� CLDL@?@e� OBLU� DGRLp� KG� S� EBJ@LRL� TLDELFe'� :L�L� TLDELFLDORLKLRLD\�T�?KC?Q?�B?\p�\OJS�}?��mDEI�Q?KJC�T@mC\FD\'�<BLCMmqY�|?FEC\�N?WLF�NLKLEJ�DCmQ'�dGBGT�EG�O?@LCKJB�CLOLTLFp�}?oD?EC\�FJS�RL�F�RmD�0'�0eE�@J�TeDEBmRJD\�T�D?ECGU�OjBL�d?BC?Q?'6?@LCKJBJ�?o?H�D?EGCI�Ke|G�BLKmDC?�S�}JB?�NBJFmELRJD\p�LFDRmK�TL�CJ@J�S�DEBmRGMEF?'�4EBmRIMm�?oKLB?FeUEI�DGoG�FTLf@C?CLo?\@Jp� NmDE?R\@J� S�@eCKJBL@J'

4?EC\�OjBL�d?BC?Q?p�FK\QCeEL�F�@LK\BDIOm�eCm~?B@Jp�@LfEmRIOJ� @LK\BDIOe� ToB?Up� L� O?|CJS� DEBmRGMI�*� NmDE?RI'6jB�d?BCJS�B?TToB?�F�@LK\BmF�m�F�E?S�DN?Dmo�ELO�QLBC?�FJFmCeFLFDF?U�D?ECU'�:L�L�D?EC\�oeRL�?K\QCGCL�F�Cm@GMIOm�eCm~?B@JEL�@LRL�Cm@GMIOe�S�B?DmSDIOe�ToB?U'�6jB�d?BCJSp�N?o?UUWJDIp}?�S?@e�F�EGBGCm�TLoBLOCG�@LK\BDIO?��L@eCmMm�p�FJ@mC\F�KGOmRIOL@LK\BDIOJH�OeRG@GEmF�CL�DEmRIOJ�|�CL�JH��KGHE\BmF�'

2BJS�?F�CLOLT�ToGBmQLEJ�DEB?Qe�EJ�ep�o?�B?TFmKOL�K?CGDRLp}?�F?B?Q�oRJTIO?'�P�EBI?H�DE?BmC�NBJS�RJ�?K\QCGCmp�\O�DGR\CDIOmKmFWLELp� B?TFmKCJMm� OjBL�d?BC?Q?� bLR\p�1BJD\� S� PmBOL'� <?CJK?CGDRJp�}?�F?B?Q�FmKmS�?F�m�F�EGBGCm�DELR?�DN?OmSC?'�2GB�JSDCmQ� m� ?DmCCmS� H?R?K� NBJOB?� NB?S@Lf� EmR?p� E?@e� O?@LCKJBJK?TF?RJRJ� DEBmRIM\@�B?TmQBmEJD\� WLBO?U� Q?BmROJp�}?� ��� @LF� FTLNLDm�OjB�d?BCJS'��mRJS�KGCI�@J�F�RmDmp�L�FFGWGBm�mKG@?�F�DGR?CL�FGWGBUp�}?����NBJQ?E?FJF�@mDMGFJS�Oe}'��LBj<mDEeC'

���

qw�|?FEC\'�<BLCMm�TLDFmEJR?�?DmCCf�D?CMGp�B?TELCeF�DCmQp�mDELR?� QLBC?p� N?QmKC?'� :L� N?R\H� oeR?� CLWG� oLoJCG� RmE?'� 5oRLOJEC?@e� CGom� @GBGHEmR?� EGCKmECG� N?FeEJCC\p� |LRmDCJ@OeBRJOLCC\@�NB?}LRJ�CLD�|eBLFRm'

_Fm�D?ECm�K?FQJ@p�DEBmRGMIOJ@�B\K?@�*�?KJC�OmCGMI�e|GCL�FGBHLHp�L�KBeQJS�}G�F�DGRm�*�@LB�eUEI�F�CLNB\@m�DGRL�b'2?�RmCm��N?KLUEIp�}?o�eFL|LRJp�o?�WeEJ�QeKmCC\�RmELOL'�PLH?KJ@?

q�n

F� oGBGT?Fm� RmDOJp� KG� WGOLf@?� CL� FmKORJO� RGEeCDIO?�� EBJF?QJ'X?RI�GFJMIOJS� �OeOeBeT\CJOjKBLoJCOL�� RmELf� CJTIO?� N?CLKDGR?@'�/mELOp�N?OBe|R\F�Jp�FmKRGEmF�CL�TLHmK'

4I?Q?KCm�KGCI�@?�H�CLB?KJC'�/JCe�Ke@OL@J�K?�DF?�H�BmKCJH'PQLKeUp�\O�NB?H?KJRJ�@?��m@GCJCJ�F�QeBEm�KBeTmF'�=?��DEBmRIMmp?D?oRJF?� B?S?Fm� 4JCmS� m� PLRmTCJS�*� NBJQ?E?FJRJ� @GCmCGDN?KmFLCOeg� N?KoLRJ� NB?� D@L|GCm� OeBJp� @LDR?� S� DJB� ELTLH?FLRJ�WLDEJCe�Q?BmROJ�mT�DF?fQ?�FW?BL�CI?Q?�NBJKmRe'�A?WeEIN?WLDEeFLEJ�@GCG'�>Ke�K?�D?EGCC?Q?�NB?DJEJ�K?TF?Re�WGBOCeEJWLBO?U'�2BJ�EmS�CLQ?Km�FmC�@GCm�DORLF�N?oL|LCC\'�PLNB?�eUDF?Q?�O?@LCKJBL�EL�FDmH�W?E?FJH�*�@?�H�KBeTmFp�L�ELO?|�OjBLd?BC?Q?p� N?B'� 4OLRep� oeCW'� b?ReoLp� W?E'� 2mKO?Fep� XLSKe� m2?R\CDIO?Q?p� N?RmEFJH?FCJOL� �?CEej1DELNLp� KjBL�aeFLBL� ELKF?H�FeDLRmF� mT�4H?Ke'�4ELf@?�FDm�F�oGBGT?F?@e�RmDOe�O?R?@pB?TOBeWeU�@LK\BDIOe��BLCLEep�}?�DRe|JEI�CL@�TL�WLBOep�m�ELON?�WGBTm� FDm� WLDEef@?D\'�4EBmRGMEF?� TLDmR?� QeBEOL@J�N?� Q?BmtNmK�oGBmTOL@J�?OBG@?�DJK\EI�EBJ�KmFWJCmjN?FDELCMm'�<?CJ�F|GF� omRJH� oReT?WOLHp� �BLCLE?FJH� DNmKCJWOLHp� NBJN?\DLCmF?\MIOJ@J� OeNR\@J� T� NmDE?R\@J'� XmR\� CJH� OReCOJ� T� BmTCJ@?K\Q?@g�F�CI?Q?�F?CJ�NGBGoJBLUEID\p�O?RJ�SKeEI�CL�B?TFmKOe'

2?N?ReKCm� Be�Lf@?� F� KLRI�e� K?B?Qe'� 2GBGH?KJ@?� FK?Rm�CmS�OmCGMI� DGRL�b'p� m� CLKFGWmB�@J�NmK� DGR?@�/'�4EBmRIMmN?OLTeUEI�@mDM\p�KG�@J�TmoBLRJD\�FNGB�Gp��O?RJRJDI'�0GNGBF?CJ� TLK?F?RGC?� KJFR\EID\� CL� DF?f� DGR?'�=mDMGFJH� HR?NMmFFJDJRLU� CL� B?TFmKOe'� dGOLf@?'� 5D\� @?\� W?EL�*� ?H?ECJOJ� TMJH�?O?RJMI'�0?@e�F?CJ�EeE�CLSOBL}m�B?TFmKCJOJ'

=?\�DEG|L�N?FGBELfEID\�m�TQ?R?�efp�}?�F�HLEm�RmDCJW?Q?/eOLDfFJWL� NGBGoeFLUEI� NmKN?RO?FCJOjB?Dm\CJCp� CLWLRICJO:6<_�T�2GBG@J�R\p�OLNmELCjmC|GCGB�N?R\O�m�CL�DEmSMm�DE?�EI\OJSDI�DGB|LCEjeOBL�CGMI'�PQ?R?�eU�MG�O?@LCKJB?Fm�S�NB?�ep}?o�K?TF?RJF�@GCm�TR?FJEJ�MJH�NEL�OmF'�6?@LCKJB�N?Q?KJFD\'

���

P�D?o?U�oGBe�FmKFL|C?Q?�B?S'�PLRmTC?Q?p�D?E'�TF+\TO?F?Q?pDEB'�d?BC?Q?�EL�}G�KF?Hp�NDGFK�\OJH�CG�NL@+\ELU'�<|G�oeR?EG@C?p�O?RJ�@J�NmKDeCeRJD\�NmK�HLEe'�<mOCL�TLDR?CGCmp�FL|O?K?QR\CeEJp� KG� DEmSO?FJS'� 4JKJ@?� EJH?� S� DELBLf@?D\TLNBJ@mEJEJp�KG�FmC�DE?�EI'�<BG�Em�CL�ERm�omR?��HLEJ�TLFFL|JRJS?Q?� EmCI'�4OJKLU� T� DGoG� E?BoJp� LFE?@LEp� FDG� EG� TLRJ�LU� F

q�w

B?Fm� S� @LRJ@� BmFWLO?@� NmKDeFLUD\� T� NmDE?RG@� F� BeOLH� K?DEmSO?F?Q?'�<mKKLRI�@m|�CL@J�}G�\OJH�KFL�@GEBJ'�4EmSO?FJS}?DI�TLNBJ@mEJF�m�OBJOCeFg

*�6E?�SKI?E�<�E?@e�@?@GCEm�\�FH?NJF�S?Q?�TL�QFJCEmFOe�m�EJH?��GNCeFg*�=?FWJp�o?�Fo+U��0?om�CmW?Q?�CG�oeKG'�=J�*�N?FDELCMm'PLoJBLf@?�DEmSO?F?Q?'�_F?f�DELf�NmK�FmOCL@Jp�L�\�FDOLOeU

T�B?S'�PLRmTCJ@�K?�DmCGS'�7?TWJC\U��JB?O?�KFGBmp�NBJHJRJF�JQ?R?Fe�CJTIO?�K?�N?B?QL'�=?DOLRIp�}?p�@LoeEIp�N?WeF�oeF�Q?R?DDEmSO?F?Q?p�NeDEJF�e�@?U�DE?B?Ce�EBJ�WGBQJ�T�LFE?@LELp�LRG�\TCJTe�DEBmR\U�T�NmDE?Rmp�FLRU�S?Q?�CL�DEmRp�L�PLRmTCJS�N?DJRLfDF?U�WGBQe�T�22a'�4FmER?�TQLDR?p�m�OLNmELCjN?R\O�FmKoJFLfEID\N??KJC?OJ@J� DEBmRL@J'� <mKDEeNLf@?� T� DmCGS� TL� DE?K?Rep� TjTLFeQRL� \O?�� FJKC?� B?TOBJEm� KFGBm� K?� HLEJ'� 6RJWG@?�|mCOe� SNJELf@?p�KG�OLNmELC'�XLoL�OR\CGEID\p�}?�S?Q?�CG�oeR?�F�HLEm':LOLTef@?� TLDFmEJEJ� DFmER?'� 0mRIOJ� oRJDCeF� OLQLCGMIp� @JN?oLWJRJ�OLNmELCL�NmK�Rm|O?@'�<H?KJ@?�K?�HLEJ'�XmR\�FoJE?Q?CLWLRICJOL�:6<_��TCLH?KJ@?�E?Boe�T�BmTCJ@J�TL�J~B?FLCJ@JNBmTFJ}L@J� DGOD?EmF� T� MmR?��2GBG@J}JCJ'� PLoJBLf@?�22apCLQLCLp� NmDE?RU� S� OLNmELCL'� <DG� EG� FmKKLU� OjB?Fm� A?@m'� <mCTFmRICJF�DEmSO?F?Q?�DGB|LCELjeOBL�CM\p�LRG�E?S�NRLOLFp�OL|eWJp}?�o?RI�GFJOJ�EGNGB�S?Q?�TLDeK\EI�TL�FEBLEe�ToB?��m�TL�EGp�}?CG� ?H?B?CJF� NmKN?RO?FCJOL'�V?@e� N?BLKJRJ� SEJ� K?� BmKC?Q?DGRL�S�EL@�H?FLEJD\�CL�FRLDCe�BeOe'

���

:L�@mDMm� N?DE?U� K?CGDGC?�@GCmp�}?� F� RmDm� CLK� DGR?@� 0'DOJCGC?�T�Cm@GMIOJH�RmELOmF�FmKKmR�NLBL�eEJDEmFjeOBL�CMmF'�XeRJMG� eOBL�CDIOm� NLEBm?EJp�}?p� oL|LUWJ� DRe|JEJ� BmKCmS� DNBLFmpNGBGS�RJ�FJ�OmR�mp�NGBGOJCGCm�Cm@GMIOJ@�O?@LCKeFLCC\@�CLEJRJ�o?RI�GFJMIO?��LB@m�� KR\�KJFGBDmSC?��B?o?EJp�N?DELFJRJDGoG�F�B?TN?B\K|GCC\�528'�*�5DG�MG�@GCm�NGBGOLTLF�TF+\TO?FJS'0BGoL� �H��eOLEJ�N?�RmDLH'�<?CJ�N?B?Te@mFLUEID\�@m|�D?o?UDNGMm\RIC?�TB?oRGCJ@J�T�KGBGFL�OeOLOLCOL@Jp�}?�CLDRmKeUEIQ?R?D� T?TeRmp� KJBOLFOL@Jp� }?� m@mEeUEI� Q?R?D� KGBOLWLp� mDFJDELROL@Jp�\Om�DFJ}eEI�N?KmoC?�K?�RmD?F?Q?�NELHL'

PQ?R?�eU�MG� O?@LCKJB?Fm� m� T� S?Q?� CLOLTe� SKe� T� W?E?U�eOLEJ�NLBL�eEJDEmF'��mRJS�KGCI�.��|?FEC\�@?\�W?EL�H?KJRLB?TDEBmRIC?U� N?� RmDLHp� ?KCLWG� NLBL�eEJDEmF� @J� CG� TeDEBmRJ'

q�k

PCLS�RJ�EmRIOJ�KFL�NLBL�eEJ�m�KF?@GEB?Fe�TLRmTCe�o?@oe'�0J@WLD?@� NLBL�eEJDEJ� F|G� DL@m� TQ?R?DJRJD\� K?� D?ECm'� XeR?� �HDG@GB?'�<?CJ�S�B?TOBJRJ�o?@oep�KG�oeRJ�OeRG@GEJ��KGHE\Bm�p�NLNL�OJ�p�BmTC?Q?�OLRmoBe�L@eCmMm\p�@GKJOL@GCEJp�LCQRmSDIOm@mCJ� KR\� NmKBJFLCC\� BGS?Op� O?CDGBFJp��?O?R\KLp� NLNmB?DOJ'0?@e�}?�\�FmKCLS�?F��o?@oe�p� KmDELU�KFL��KGHE\Bm�� m�22a'6?|CJS�NLBL�eEJDE�@Lf�o?RI�GFJMIOJS�?KC?DEBmSp�EL�*�}?oRGQ�G�oeR?�NGBGH?KJEJ�F�EGBGCm�*�}G�S�o?RI�GFJMIOm�F?fCCmK?Oe@GCEJ'� _G\Om� @LUEI� N?DFmKOJ� Tm��NJELRU� F�6?R?@J�p� KGF?CJ� CmoJE?� RmOeFLRJD\'� <Dm� TCL@GCJE?� FJ�O?RGCm� SDN?B\K|GCm'�<?CJ�?N?FmKLUEIp�}?�}G�F�:m@GWWJCm�K?Q?F?BJRJDI@m|� D?o?Up� }?� FmKBLTep� TCLS�?F�JD\� CL� BmKCJH� TG@R\HpFmKKLKeEI�DGoG�F�B?TN?B\K|GCC\�528'�1N?FmKLUEI�CL@p�}?�FCm@GMIOJH�BLKm?NGBGKLWLH�N?KLUEI��JB?Om�BGN?BEL|m�NB?�o?�528� T� o?RI�GFJOL@Jp� N?KLCm� CL� NmKDELFm� TmTCLCI� Cm@GMIOJHDELB�JC'�2B?D\EI��eOLEJ�}G�TL�KF?@L��o?@oL@J��T�FmSDIO?FJ@@LEGBm\R?@p�L�ELO?|�TL�EBI?@L�NLBL�eEJDEL@Jp�}?�}G�K?Dm�CGTReWJRJD\� T� CJ@J'

<BLCMm�.q�|?FEC\�B?TFmKOL�K?CGDRLp�}?�WGBF?CL�N?RIDIOLo?�FOL� T� DGRL�6'� NmS@LRL� ?KC?Q?�NLBL�eEJDEL'�2?�CI?Q?� F|GN?�HLRL� @L�JCL'�2B?�e� O?@LCKJBL� K?TF?RJEJ�@GCm� TB?oJEJTLDmKOep�}?o� S?Q?� FmKoJEJ'� _?TFmR� ?EBJ@LF'� P� Zj?U� W?E?U� FomRJS�KGCI�WJDEJ@J�N?R\@J�S�@G|L@J�NmKDeFLUDI�K?� K?B?QJ@m|�DGRL@J�7'�m�0'p�NGBGomQLf@?����m�F�R?TLH�TL�N?E?O?@�TLR\QLf@?'PL�NmFQ?KJCJ�CLKH?KJEI�}G�S��jE\�W?EL�PLN?B?|M\'�<?CL�oeRL@GCm�CGN?EBmoCL'�:GFGRJWOm�Oe}m�CG�@?QRJ�N?@mDEJEJ�KF?H�W?E':LK+�HLRL�NmKF?KL�T�o?RI�GFJOL@J'�`�CLOLTeU�NB?NeDEJEJ��Hp\O}?� CLD� CG� TLNBJ@mE\EI'� 0J@� WLD?@� B?S'� 7JoLOp� K?� \O?Q?p@LoeEIp� @mS� CLOLT� CG� KmS�?Fp� FmKOBJF� F?Q?CIp� FoJF� EBI?Ho?RI�GFJOmF� m� KF?H� FT\F� e�N?R?C'�:GFKLRL� TLDmKOL�N?NDeFLRL@GCm� CLDEBmS'� _LRm� ?WmOeFLEJ�@L�JCJ� oGTMmRIC?p� o?�|� F?B?QTLLR\B@?FLCJS� N?DEBmRL@J'� <GBELf@?D\� CL� @mDMG� N?DE?Up� LB?S'�7JoLO�KmDELF�CLQLCe�FmK�O?@LCKJBL'

:LeWOLp�}?� CL� TLDmKOe� CG� EBGoL� oBLEJ� FGRJO?Q?� WJDRLF?\OmF'

=?\�W?EL�@Lf�F|G�FmDm@�OeRG@GEmF'�6?|CJS�DEBmRGMI�C?DJEIN?�.���CLo?�Fp�L�K?�OeRG@GEmF�@Lf@?�N?�KFmjN+\EI�EJD\W�CLo?�F'<�K?KLEOe�O?|CJS�DEBmRGMI�@Lf�.j[�TFJWLSCJH��BLCLE'�=Lf@?EG|�OmRIOL�NB?EJELCO?FJH'

qq�

.��|?FEC\�N?\FJFD\�F�K?Rm�Cm@�OmCMm�DGRL�/'�b'��B?o?WJSFTF?K�� WGBF?C?LB@mSMmF� NmK� O?@LCKeFLCC\@� @?R?K�?Q?R\SEGCLCEL'�dLDEJCL�T�CJH�oGT�ToB?�'�P�CLOLTe�O?@LCKJBL�?KCLCL�L�W?EL�B?TToB?�RL� �H'� 0?@ep�}?�@m|�CJ@J�oeRL�omRI�mDEIeOBL�CMmFp� N?RmEFJH?FCJO� �?CEL� m� 4EGN?FL� NB?FGRJ� T� CJ@JNB?NL�LCKJFCe� oGDmKe� S� B?TN?FmRJ� �@p� TL�}?� o?BGEID\� 528'1NmDR\�FDmH�TFmRICGC?�S�FmKKLC?�ToB?U'�dLDEJCL�T�CJH�H?EmRLSEJ�K?�528p�LRG��H�CG�NBJSC\RJ'

���

:L��R\He�X'*4'�RG|JEI�DGR?�6'�_?FOBeQJ�*�FGRJOm�RmDJ'4GR?�N?KmR\fEID\�CL�Dm@�NBJDmROmF�m�CLRmWef�@LS|G�.���KF?BmF'�G� TL� LFDEBmSDIOJH� WLDmF� omRI�mDEI� EeE� DELC?FJRJ� eOBL�CMmpLRG�T�NBJH?K?@�N?RIDIO?��LK@mCmDEBLMm��*�NmK�EGB?B?@�N?RmMm�p�DE}GRIMmF�p� F?R?DC?�� eNBLFJp� eWJEGR\� _e~BLELp� TLFmKeFLWLKF?B?@�8OLKG@m��:LeO�6F\EO?FDIO?Q?p�mC|'�6L@mCDIO?Q?p�D?REJDL`Cm�GFDIO?Q?� EL� BmTCJH� BGCG�LEmFj�KT\RLWmF� DN?RGWCJH��*CLDGRGCC\�oeR?�T@e�GCG�NGBGSEJ�CL�BJ@?jOLE?RJMEF?'

2?R\OJ� F� MI?@e� DGRm� CG�@LRJ� O?RJDI� O?DEI?Re� S� H?KJRJ@?RJEJD\�K?�OLNRJMm�@mDMGF?Q?�N?@m}JOL'�5OBL�CMm�@LRJ�KGBGF+\CeMGBO?FMUp� \Oe� FDmfU�Ke�GU�NmKEBJ@eFLRJ�eOBL�CDIOm� NLEBm?EJpQ?R?FC?�V?DJN�2m��m�=JHLSR?�4EGMI'�XmR\�CJH�m�QeBEeFLRJD\p�CGTFL|LUWJ�CL�F?B?|JS�EGB?Bp�\OJH�.��eOBL�CDIOJH�B?KJC'

�?o� TB?Te@mEJ� CLSC?Fm�m� N?Km�� F� MI?@e� DGRmp� EBGoL� oN?FGBCeEJD\�K?�N?KmS�mT�B?Oe�qk�k'�0?Kmp�oGTN?DGBGKCI?�NGBGKeNLKO?@�2?RI}mp� N?RIDIOL� FeRJM\� MI?Q?� DGRL� NmK� NB?F?K?@CLTFLCJH� N?RIDIOJH� Km\WmF� EL� T� K?N?@?Q?U� ELO?��|� FeRJMmj�DE}GRIMmF��T�?O?RJMm�*�TLFT\RLDI�FmKmoBLEJ�QBGO?jOLE?RJMIOeMGBO?FMU�EL�TL@mCJEJ����CL�O?DEI?R'

_?� Q?R?FC?Q?� TeKLBe� KmS�R?�CL�PGRGCm�4F\EL� qk�k�B?OepO?RJp�\O�m�O?|C?Q?�B?Oep�F�OeTI@JCDIOmS�MGBO?FMm�FmKoeFLR?D\eB?WJDEG� X?Q?DRe|GCC\'�1ToB?fCm� Be�CJM\@Jp� TLoBLCJ@J� mTDELCJMI��4E}GRIMJ�p�EL�DNGMm\RIC?�F�OeTCm�B?oRGCJ@J��BeoL@JpN?RIDIOm�o?�FOJ�CLNLRJ�CL�DF\}GCJOLp�?'�_?oB\CDIO?Q?p�EL�S?Q?NLB?Hm\Cp�}?o�FmC�FmKKLF�ORUWm�FmK�MGBOFJ'�4F\}GCJOp�NB?FmT?B2m�� S� mC�m� MGBO?FCm� oBLEE\� EL� NLB?Hm\CJ� FmK@?FJRJDI� MGTB?oJEJp�m�o?�FOL�OJCeRLDI�CL�CJHp�RL@LUWJ�mO?CJ�S�H?BeQFJ'_mS�R?�K?� TLFT\E?Q?�o?U�TL�MGBOFe'�6Bm@� DEBmRIC?�� ToB?�� EL�Beop�CLNLDCJOJ�F|JRJ�}G�S�C?|mF'

qqq

0?Km�TLBmTLC?�A?@e�T�/'�EL�XmR\CDIO?Q?�T�/'p�CLDGRGCC\��H?DNmFLR?�TQ?K?@�e�NmDC\H'�<�MI?@e�o?U�oeRJ�KGD\EOJ�N?OLRmjWGCJH� m� FL|O?�N?oJEJH� eOBL�CMmFt� TjN?@m|�CJH�}G�NBJCLS@mD?ECU� N?RIDIOL� N?RmMm\� LBG�EeFLRL'� 1'� _?oB\CDIOJS� RGKFGFB\EeFLFD\�FmK�D@GBEJp�L�V?DJNL�2m�L�ELO�FL|O?�N?oJRJp�}?FmCp�N?HF?BmF�J�}G�BmOp�N?@GB'��GBOFe�TL@mCJRJ�CL�O?DEI?R'2?�C?WLH�eOBL�CDIOJ@�B?KJCL@�DO?�eFLC?�FDG�Tom||\p�CJ}GC?Q?DN?KLBDIOJS� mCFGCELBp� L� F� OBJCJMm� RJE?� CL~Ee'� :mHE?� T@mDMGFJH�eOBL�CMmF�CG�@mQ�FJSEJ�FFGWGBm�CLFmEI�CL�DF?f�N?KFmB+\pL�FKGCI�*�K?�DeDmKCI?Q?�DGRL�6'�AE?�Q?F?BJF�Lo?�@?RJFD\�N?jeOBL�CDIOJp� E?Q?�N?oJFLRJ'

2mK� WLD� NGB�?�� o?RI�GFJMIO?�� ?OeNLMm�� oLCKJEJ� KG}?NBJDmRJ'�b?R?FCJH�DNBJWJCCJOmF�MJH�N?KmS�*�D?REJDL�`Cm�GFjDIO?Q?� EL� mC|GCGBL�6L@mCDIO?Q?�*�o?RI�GFJOJ� LBG�EeFLRJ'<WJEGRI�_e~BLE�FEmO'�:LDGRGCC\�WLDEO?F?�N?FGBCeR?D\�K?�QBGO?jOLE?RJMIO?Q?�?oB\Ke�S�FmKmoBLR?�DF?U�MGBOFe'

<|G�T�NBJH?K?@�Cm@GMIO?��?OeNLMm��Q?R?FCJS�BmTeC�bLSKeON?NLF� ELO?|� K?� EUB@Jp� _e~BLEp� N?FGBCeF�JDIp� DELF�~?RIODK?SWGB?@�p� mC�m� DNBLFCJOJ� CLNLKe� FJ�HLRJ� K?:m@GWWJCJ�CL�B?o?EJ'�0J@�WLD?@�F� DGR?�NBJS�RL� FWJEGRIOLX?Q?FDIOL�EL�C?FJS�RmDCJWJS'�0?Km�EeE�FJCJORL�ELf@CL�NmKNmRICL?BQLCmTLMm\p� WRGCJ�\O?�� ?KC?WLDC?�NBLMUFLRJ�KR\� �GDELN?�\OL�GCEJ'�4F?�@J�K?C?DL@J�F?CJ�FmKKLRJ�F�BeOJ��GDELN?�KJBGOE?BL�O?RJ�m�TQ?K?@�F?R?DC?Q?�FmSEL�4'�4'

6?RJ� o?RI�GFJOJ� NBJS�RJ� FKBeQGp� DELBL� FeRJM\� TC?FeNmKFGRL�Q?R?Fe�S�NB?K?F|eFLRL�B?o?Eep�N?WLEe�qk�k�B?Oe'�:GEmRIOJ� F� DL@?@e� DGRm� 6'p� LRG� S� N?� DeDmKCmH� DGRLH� N?WLRJD\TCe}LCC\� CLK� eOBL�CDIOJ@� CLDGRGCC\@p� FoJFDEFL'� _?oBG?ToB?fCm� o?RI�GFJOL@Jp�Mm� o?�FOLBm� FJCJ}JRJ�F� DF?f@e� DGRmeOBL�CDIOG�CLDGRGCC\�S�DELRJ�CLNLKLEJ�CL�DeDmKCm�eOBL�CDIOmDGRLp�QBLoeFLEJp�FoJFLEJ�S�NLRJEJ'

PCLUWJ�NB?�TR?WJCJ�Mmf��o?�FOJ�T�DGRL�6'p�TFGBCeFD\�\�K?OjBL�d?BC?Q?�m�OjBL�A?@J�T�NB?N?TJMmfU�TRmOFmKeFLEJ���'�=?\NB?N?TJMm\�oeRL�NBJSC\ELp� m�N?WLRJDI�NBJQ?EeFLCC\'

5�@m|WLDm�T~?B@eFLRLD\�[jEL�W?EL�TjN?@m|�WRGCmF�46<p�\OJHFJ�O?RJF� N?FmE?FJS� �?BQ@?o�� �?BQLCmTLMmSC?j@?omRmTLMmSCJSBG~GBGCE�p� �H� NBJNB?FLKJF� bLKp� m� OjB� A?@L� NGBGKLF� S?@eO?@LCKeFLCC\� CLK� C?F?T~?B@?FLC?U� W?E?U'� <Dm� mC�mp�}?� CGFFmS�RJ�K?�DORLKe�W?EJp�oeRJ�NBJKmRGCm�K?�mC�JH'�cRG@GCE�KG}?

qq.

OBL}JS�FmK�@?fQ?p�HR?NMm�TK?B?Fm�mp�N?FJoJBLCm�T�OmRIOLCLKM\EJDmR�ZjQ?�BjCe'�0LO�E?�CL�L�D?EC\�DELRL�F|G�CLRmWeFLEJ�.[��W?R?FmO'P�E?Q?�D?B?O�NBJNLKLR?�CL�C?F?T~?B@?FLCe�W?Ee'

0J@�WLD?@�B?TFmKOL�NBJCGDRL�CL@�mC~?B@LMm��NB?�F?B?|mDJRJ�F�DGRm�6'�<JH?KJR?p�}?�EL@�B?TEL�?FLC?�q[��?ToB?fCJH@mDMGFJH�o?�FOLBmFp����WRGCmF�=1�EL�D?ECU�o?RI�GFJOmF'

4ORLKLf@?� NR\C� CLDO?Oe'� _?� O?|C?Q?� B?\� KF?H� D?EGCINBJKmRGC?�DEBmRIMmF�T�@?f��W?EJp�o?�F?CJp�\O�@mDMGFmp�CLSOBL}GTCLUEI� EGBGC'� <Dm� F?\OJ� KmDELUEI� omRm� ?NLDOJ� CL� BeOLFJpeDEmSCGC?� e@?FCm� TCLOJp� DJ�CLRJp� N?KLC?� K?ORLKCm� FOLTmFOJ'<J@LB��NBJTCLWGC?�CL�NGB�e�Q?KJCe�FC?Wm'��mf��C?Wm�\�N?FCUDRe|oe� mCDNGOMmSC?Q?� DELB�JCJ'

1�qjmS�FC?Wm�KFm�D?ECmp�TmoBLCm�K?�FJ@LB�ep�Q?E?Fm'�0G@C?'2LKLf�QeDEJS�K?}'�4ORJOLC?�CLBLKe�O?@LCKJBmF�m�FJBm�GC?�*T�eFLQJ�CL�CGNBJQ?|e�N?Q?Ke�*�CL@mWGCe�LOMmU�FmKORLKGC?'

>� K?oBG� DELR?D\'�2?� NmFC?Wm� NBJomQRL� K?� @GCG� KmFWJCL� TDGRL�0'�mT�TLNJDO?U�FmK�B?TFmKCJMm�mT�D?ECm�OjBL�d?BC?Q?'�PLNJDOLN?FmK?@R\RL�NB?�CGoGTNGOeg�FGRJOm�DJRJ�o?RI�GFJOmF�N?�HLRJ�FCLNB\@m� DGRL� 6'p� L� T� CJ@J� S� ELCOJ'� PLNJDOe� FmKDJRLU� K?OjBL� d?BC?Q?p� L� DL@� TQ?R?�eU� FDG� OjB?Fm� A?@m� ?D?oJDE?'_?BeWJF�@GCm� DOBmNJEJ� TLDELFJ�S� WGOLEJ� BLCOe'�:L� DFmELCOe}G�BLT�NBJS�R?�N?FmK?@RGCC\�T�DGRL�b'g�eFL|LEJp�o?�F�CLNB\@m/'�RmDL@J�Nm�RJ�o?RI�GFJOJ'�2GBGFmB\U�TLDELFJ'�=?\�W?EL�Fo?S?FmS� Q?E?F?DEm'

#VY�!Vb R�[�`��V^U��[LLL

.Z� |?FEC\� qkZZ� B?Oe'� 2?QLCJSp� DRI?ELFJSp� @B\WCJSpo?R?ECJDEJS�?DmCCmS�KGCI'�<mSDIO?�}G�DNJEI'�4I?Q?KCm�CGKmR\':L�TLDELFe�FmKH?KJEI�CL�T@mCe�BmS�<?B?CL'�PLDELFL�*�TL�.���@TL�DGR?@�omR\�DNLRGC?��|JKmFDIO?��HLEJ�FmK�NBJDmROL�6BJFG'�>Ke�TCJ@Jp�}?o�}G�BLT�NGBGFmBJEJp�WJ�@LUEI�K?oBm�DELC?FJ}L'�2?RGKR\�?QR\Ke�N?QLCGp�o?�T�?KC?Q?�o?Oe�K?B?QJ�oeF�RmDp�L�T�KBeQ?Q?*�N?EmO�T�Oe}L@J'�`O}?�F?B?Q�TCLf�NB?�CL��N?DEmS�F�DGRmp�E?K?B?Q?U� CLNGFC?� CG� NmKG'� 1DEGBmQLU� B?S?F?Q?p� }?o� K?oBGNJRICeFLF�TL�RmD?@'�2?FGBELUWJD\p�FDEeNJF�\�K?�NLBL�eEJDEmF'

*�PK?B?Fmp�KBeTm��*�NBJFmELF��H'*��?�C?F?Q?p�KBe|G�W?E?FJS��=J�F|G�TmoBLRJD\�S�Q?E?Fm

CLFmEI�K?��FmSCJ�'

qq�

*�PKLfEID\p�}?�F?CL�oeKG'''6?RJ�\��@�B?TN?FmFp�}?�F�0B?DE\CMm�DE?\EI�o?RI�GFJMIOm

ELCOJp� F?CJ� TLNB?N?CeFLRJ� TL@mCeFLEJ� @mDE� CL� QRJo?O?@eN?E?Mm�omR\�TLDELFJ'�P�EJ@�mKe�K?�O?@LCKJBL'�<�N?W?Em�}G�FDmDNR\EI� B?TK\QCGCm'� 0mRIOJ� O?@LCKJB� e|G� FoBLCJS� RG|LF� CLRLFm'�PQ?R?�eUD\�S�TBLTe�NB?N?CeU�TL@mCeFLEJ�@mDE'�6?@LCKJBCL�MG�@GCm�FmKN?FmFg���?DI�TB?oJ@?'''��<mKH?K|e�CL�K?B?Qe'

XRJTIO?� nj?�� FBLCMm� CGCLKmSC?� NB?BmTLRJ� F?QOGp� @B\WCGN?FmEB\�NBJQRe�GCm�N?DEBmRJ�CL�TLDELFm'�<mKBLTe�OBJWeg��8R\B@��8R\B@?Fm�oeK\EI�FmSDIO?'�:L�TLDELFm�ORGO?EJEI�TLFT\EJS�omS�mWeEJ� DJRICJS�F?B?|JS�F?Q?CI'

PLDELFL� FmKDEeNLf'� Xm|JEI� BLCGCJS� B?S?FJS� m�}G� ?KJCDEBmRGMI'� PL� CJ@J� FDRmK� e� B?TDEBmRICmS� CLDeFLfEID\� W?ELo?RI�GFJOmF'� <mSDIO?� BJCeR?� T� HLE� m� oGT� CLOLTe� N?WJCLfFmKDEeNLEJ�F�CLNB\@m�D?ECm�OjBL�d?BC?Q?'�2?�HLEmp�e�\OmS�oeFCL��N?W?Ep�F?B?Q�FmKOBJF�F?Q?CI'�PFmKEJ�FJomQLUEI�TLDNLCm�KBeTmgHE?�CGDG�oRUTOe�}G�F�BeOLHp�ToB?Up�HE?�oGT��LNOJ'''

:LOLTmF�O?@LCKJB�}G�CG�KLfp�E?@e�CG�TCLf@?p�NBJS@Lf@?omS�WJ�FmKDEeNLf@?'�d?EJ�T@m�LRJD\'�XLWep�}?�@?|G�KmSEJ�K?FGRJOJH�|GBEF'�:LOLTeUg� �dGEFGBEL� W?EL� F� B?TDEBmRICep� CLDELC?FJ}L���AR?NMm� F� CLSomRI�?@e� N?B\KOe� B?TQ?BCeRJD\� FB?TDEBmRICe'�PLR\QRJ'�X?RI�GFJOJ�K?NLRJ�NGB�JH�HLE'

�dGEFGBEL�W?EL��AR?NMmp�CG�KL@?�/m}LFJ�o?RI�GFJOL@��PL@C?U��<NGBGK��PL�5OBL�Ce��<?Q?CI��

>�WGEFGBEL�W?EL�Nm�RL�F�CLDEeN'P�o?RI�GFJMIO?U�W?E?U�KmS�R?�K?�NGB�?Q?�TeKLBe�@m|

HLEL@J'�:L�G� �4RLFL��� S� o?RI�GFJMIOG� �5BL��� T@m�LRJD\� F?KCe�o?S?Fe�DJ@~?CmU'�AR?NMm�Nm�RJ�F�CLDEeN�FDm�\O�?KJCp�TN?Q?BK?U�D@GBEJp�T�CGCLFJDEU�K?�F?B?QL'�:L��eKLB�oeF�ELOJSDJRICJSp�}?�@J�FmKBLTe�NGBGoBLRJ�mCmMm\EJFe�F�BeOJ�m�FJQCLRJF?B?QL�TL�DGR?'��G�oeF�EmRIOJ�N?WLE?O'

0J@� WLD?@� W?E?Fm� F|G� ?NLCeFLRJ� DF?�� W?EJ'� `� EB?HJFmKDEeNLUp� o?� F?B?Q� T� KF?H� o?OmF� o+f� DJRICJ@� F?QCG@� T�@LODJ@mF�� N?� NGB�JH� HLELH'� PLS@LU� DELC?FJ}L� KGDI� TLKGD\E?U� HLE?U� FmK� OBLU� DGRLp� L� K?� O?@LCKJBL� FJDJRLUTF+\TO?F?Q?'�6L|e�oeKeFLEJ�oLBJOLKJp�?O?NJp�TLDR?CJ'

1KCm� ?O?NeUEID\p� KBeQm� eORLKLUEI� OL@mCC\p� NmKE\QLUEIO?R?KJp�DE?DJ�KGBGFLp�EBGEm�NGBGFGBELUEI�ORI?TGEJp�TLOJKeUEI?omBCJO?@p� QRJC?U'� _R\� OeRG@GEmF� FJoJBLf@?� DELC?FJ}L� CL

qqZ

FmOCLH�HLE�omR\�DELBJH�QBe�p�KeomF�EL�F�B?FLH�?oLomW�K?B?QJ':L�?o?BmQp�CLDLKJF�J�D?om�CL�Q?R?Fe�OLTLCOLp�FJRmT�?KWLSKeHDEB'� XJDEBJS� T� /m}LFJ� b?Bm�CI?�p� }?o� TFmKEJ� DEG|JEJ� TLNGBGDeFLCC\@�F?B?QL'�>C�JS�DEBmRGMI�NBJDELFJF�KBLoJCep�FJRmTCL�HLEe�m�NBJWL�FD\�TL�O?@JC?@'�:LDGRGCC\�TLRJ�JR?�HLEJ�SFmKmS�R?�FQRJo�DGRL'

ZjEL� W?EL� TLSC\RL� DELC?FJ}L� N?NGBGO� K?B?QJ� S� DGRLp~B?CE?@�K?�DGRL�6BJFG'�P�?o?B?QL�XJDEBJS�N?FmK?@R\fp�}?�FCL�?@e�CLNB\@m�NmKDeFLUEID\�oRJTIO?�����o?RI�GFJOmF'�PjNmK?KC?Q?�NmKKL��\�WGBGT�KLRGO?FJK�oLWep�\O�F?B?|L�B?TDEBmRICLNmKDeFLfEID\� FDG� oRJ|WGp� FDG� QeDEm�Gp� TLH?KJEI� N?NmK� RmD� CLNmFKGCC?@e�DH?Km'�<|G�NGBGomQLf�Q?Be�CL�NmFKGCC?@e�TLH?Km'�PCLOLTe�O?@LCKJBL�CL�K?N?@?Qe�NBJH?KJEI�qj�L�W?EL�6BJF?C?DL'<?CL� TLS@Lf� DELC?FJ}L� CL� RmF?@e� OBJRm� Zj?�� W?EJp� W?R?@� K?NmFKGCC?Q?�DH?Ke�S�EF?BJEI�NmFO?R?'�9��TLFKLCC\�*�FmKoJFLEJCLDEeN�o?RI�GFJOmF�FmK�BmWOJ'�:L�m�DELC?FJ}L�oeRJ�B?TEL�?FLCmELOg� qj�L� W?EL� TLSC\RL� DELC?FJ}L� NmFO?R?@p� CL� Q?BoOe� @m|Q?Bm�Cm@� OmCMG@� DGRL� S� K?B?Q?Up�}?� FGRL� K?� DGRL� /m@C?�p~B?CE?@� CL� DHmK� m� NmFKGCCJS� DHmKt� ZjEL� W?EL� N?� ?o?H� o?OLHK?B?QJp� F�CGFGRJO?@e�N?EmWOep�N?NGBGO�WGBGT�DGR?p� W?R?@�K?NmFKC\'�:LNBLF?�*��jE\�W?EL�PLN?B?|M\�WLDEJCC?�F�DLKLHp�LKLRm� \B?@�CL�N?Rmp�~B?CE?@�K?�NmFKC\'�:L�DL@mS� Q?Bm�*�[jELW?EL� bLKLp� ~B?CE?@� K?� NmFKC\p� DGBGKJCL�*� ~B?CE?@� K?NmFKGCC?Q?� TLH?Kep� L� NBLFG� OBJR?�*�~B?CE?@� K?� TLH?Kep� FCLNB\@m� DGRL�6eTI@JCJ'

6jB� A?@L� T� N?W?E?@� oeF� omR\� HLEJp� }?� CL� NGBGHBGDEmK?BmQp� e�@mDMmp� KG� K?B?QL� T�/m@C?�� DH?KJEID\� T� K?B?Q?Up� \OLSKG� DGR?@�/m}LF?U'� /mOLB�aeFLBp� DLCmELB�4EBmRGMI� S� mC�mDLCmELBJ�omR\�CLD'

4?EC\� OjBL� d?BC?Q?� Nm�RL� N?R\@J� FmK� DH?Ke� F� CLNB\@mRmDep� NB?DE?� K?� E?Q?� @mDM\p� KG� N?EmO� NGBGEJCLf� DGR?p�*� EL@F?CL�@LRL�FKLBJEJ�CL�o?RI�GFJOmF�T�~R\CQe�m�TTLKe'

X?RI�GFJMIOL�RmCm\�NB?H?KJRL�ELOg�CL�DHmK�FmK�qj?��m�Zj?��W?EJm�RL�FTK?F|�N?E?OLp�}?�NRJFG�N?NmK�RmDp�KLRm�NGBGEJCLRL��R\H�mDOBeWeFLRL�O?RmC?@�FTK?F|�K?B?Q?U'��\�RmCm\�@mDM\@J��JB�LRLS� oeRL� T@mMCUFLCL�}G� OmRIO?@L� RmCm\@J� TTLKe'� X?RI�GFJOJ?NLCeFLRJ� RmD�@m|�/m}LF?Up�6BJFJ@� m� K?B?Q?U� T�6BJF?Q?� K?/m@C?�p� EL� RmD?Op� KG�S� DOeNWeFLRJD\�KGKLRm�omRI�m� �HCm�BGTGBFJ'6mRIOL�D?EGCI�NmKH?KJR?�N?R\@J�T�7?TE?OmF�m�6eTI@JCJ'

qq[

:L�L� RmCm\� F� CLSOBL}?@e� N?B\KOe'� :LDEBmS� Zj?�� W?EJTCL@GCJEJS'�AR?NMm�NGBG|JRJ�NGB�JS�omS�m�FJQBLRJ�S?Q?'�:L�DEBmRGMI� N?oLWJF� F?B?|m� EBeNJp� N?oLWJF� o?RI�GFJOmFp� }?FEmOLUEIp�oeF�TLK?F?RGCJSp�T�BLK?DEJ�N?NRUFLF�e�BeOJp�?oGBELF�LNOe�CLTLK�KL�O?@�m�D@m\FD\'

:L�m� FJDeCGCm� QCmTKL� F|G� o+UEI� N?� o?RI�GFJOLH'� �GN?WLE?O�KBeQ?Q?�o?U'

<?B?Q�NmKDeCeFD\�CL�@GEBmF�DE?'�V?Q?�DGBGKJCL�TC?Fe�@m|NGB�J@J� HLEL@J'� _?@?FR\UD\� T� W?E'� PLN?B?|MG@� EL� TW?E'� >FLDG@p� }?� O?RJ� o?RI�GFJOJ� NmKDeCeEID\� oRJTIO?p� CGK?TF?RJ@?��@�?O?NLEJD\�F�DGRmp�FKLBJ@?�DJRICJ@�F?QCG@p�E?KmT�OBJO?@�m�F?QCG@�NmKG@?�F�CLDEeN'

0LO�m�DELR?D\'�`O�EmRIOJ�TLOJNmF�omS�CL�oRJTIOe�FmKDELCI�mo?D?EL�F|G�TBJFLRLD\�K?�LELOJp�@J�FmKOBJRJ�DOL|GCJS�F?Q?CIm� Be�JRJ� CGDEBJ@C?U� DJR?U� F� CLDEeN'� _mS�R?� K?� TLFT\E?Q?BeO?NL�C?Q?�o?U�@?Q?�ZjQ?�B?\� m�qjQ?�B?\�W?E'�PLN?B?|M\�To?RI�GFJOL@Jp�}?�oeRJ�@m|�HLEL@J'

=J� TC?Fe� NGBG@?QRJ'� :L� N?Rm� o?U� RG|LEI� EBeNJo?RI�GFJOmFp�OLWLUEID\�BLCGCmp�WeEJ�KJOm�T?SOJ�m�oGTCLDELCCGo?RI�GFJMIOG��5BL���8RG�F?C?�DEJHLf'�X?RI�GFJOJ�FEmOLRJ�ELN?DEmSC?�OBJWLRJg� �<NGBI?K��5BL���5�CLD� KGOmRIOL� FoJEJH� ELBLCGCJH'�<mKDELFR\f@?�BLCGCJH�K?�?KCmf��DE?K?RJp�KG�RmOLBm��HoLCKL|eUEI'� 7LCJ� FL|Omp� o?� F?B?Q� o+f� EmRIOJ� B?TBJFCJ@JpTLNLRICJ@J�S�~?D~?B?FJ@J�OeR\@J'

PC?Fe�@LRL�NGBGKJ�OL'PL� E?S� WLD� D?EC\� OjBL� d?BC?Q?� FGKG� TLFT\EJS� omS'� XmS

E?WJEID\�CL�N?R\H�@m|�/m}LF?U�b?Bm�CI?U�m�/m@C?U'�<JO?CLEJDF?Q?� NR\Ce� OjB�d?BCJS� CG�@mQp� o?� TeDEBmFD\� T� F?B?Q?@p�}?S�?F�RmD?@�FmK�bB?TI?FJ'�_?CGDGCC\�B?TFmKCJMm�bLRm�oeR?�E?WCG'

:L� NBLF?@e� OBJRm� F|G� WeEJ� NGBGDEBmROe� [j?�� W?EJ� To?RI�GFJOL@J�CL�OeTI@JCDIOJH�FGBHLH'�=m|�@C?U�m�O?@LCKJjB?@�D?ECm�}?OmRIOL�HFJRJC�NGBGomQLUEI�TF+\TO?Fm'

2mK�WLD�Mmf��NGBGKJ�OJ�\�DE?\F�omR\�E?FDEGTC?Q?�KeoL�@m|HLEL@J�CGKLRGO?�K?B?QJ'

dGBGT� KLRGO?FJK� ?QR\KLF� NGBGKNmRR\'� _?�@GCG� NmKH?K\EIW?E'�PLN?B?|GMI�m�W?E'�>FLDI'�4mKLf@?�CL�@?OBe�TG@RU�NmK�Keo?@pB?TKJBLU�CLWGEFGB?�DE?BmCOe�QLTGEJ�EL�B?oRU� �@�TK?B?FGCCmMJQLBOJ'�_BeTm� eD@mHCeRJDI'

*�d?@e�|�ELOm�E?FDEGTCm�S�FGRJOm��*�NJELUEI'

qqY

�LBE?@L�FmKN?FmKLUg*�<mSCL�RUoJEI�KJ@'�PLOeBm@p�KBeTm'6?|CJS� ?H?WG� FE\QCeF� QRJo?O?� F� QBeKJ� KJ@p� CLWG� o

FKJHLF� TLNLHJ� OFmEmF'� =J� TL@eBTLCm� o?R?E?@p� ?oFLR\Cm� SFE?@RGCm'

*�`O�K?FQ?�}G�oeKG@?�ELO�NB?K?F|eFLEJ�omS���?�T�E?Q?FJSKG��*�NJELUEI�@GCG'

0L�}?�|�\�@mQ��@�FmKN?FmDEJ�*�`O?DI� E?� oeKGp� X?Q� CG� oGT� @JR?DEJp� L� O?TLO� CG� oGT

K?Rm'''<?B?|JS�F?Q?CI��@LODJ@mF��DELF�Ke|WLEJ'�P�CL�?Q?�KeoL

DNLKLf�NB?DEBmRGCG�QmRR\p�|?ReKI�m�O?BL'*�:ep�KBeTmp�oeKG�EBGEmS�CLDEeN'�>KmEIp�o?�HR?NMm�TRG�oGT

FLD�N?WeFLUEID\'P�KJFCJ@�|LRG@�NB?}LRJD\�F?CJ�Tm�@C?Up�FmKH?K\WJ':L�MmRmS�CL�mS�RmCm�p�}?�NB?DE\QRLD\�CL�W?EJBJ�OmR?@GEBJp

NmKC\FD\� DJRICJS� OeRG@GECJS� EL� Be�CJWCJS� F?Q?CI'� deEJM?O?EmCC\�}?CLS@GC�G� KF?HD?E� OeRG@GEmF� BmTC?Q?� B?Ke'�:LKQ?R?FL@J�EBmDOLUEI�B?TBJFCm�OeRmp�NGBGBLTRJF?�NmCIOLUEI�?KCLTL�?KC?U'

�?o�NmKCGDEJ�DEBmRGMEFe�CLDEBmSp�N?KLU�N?�RmCm�g*�d?EL�OjBL�PLN?B?|M\�DEBmR\f��o?D\OL@��F�FmWmp�}?o�CG

oLWJRJp�OeKJ�FEmOLEJ'�d?EL�OjBL�>FLD\�DEBmR\f�N?�O?RmCLHp�}?o�DFJEL��CG�@?QRL�FEmOLEJ'

5�FmKN?FmKI�SKGg��0LOp�ELO�oeKG@?�B?oJEJ'''�8RG�NBJH?KJEI�N?FmK?@RGCC\g�o?RI�GFJOJ�NBJQ?E?FR\UEID\

K?�CLDEeNe'�<|G�SKeEI'�5|G�WeEJ�KJOm�o?RI�GFJMIOm�OBJOJ'*�2GB�L� m� N+\EL� W?EL� F?Q?CI�� _BeQLp� EBGE\� S� WGEFGBEL

SKeEI�e�NB?EJCLDEeN'>�TC?Fe�TLQBJ@mR?�N?FDELCDIOG��4RLFL�p��<NGBGKp�TL�5OBL�Ce�

PL����F?RU��XJS�DELRmCDIOJH�D?oLO���0GNGB�KmS�R?�K?�CLSomRI�TLFT\E?Q?�o?U'�b?Km�?NJDLEJp�}?�EeE�Km\R?D\'�:G�@LU�DRmFp�}?oT@LRUFLEJ�OLBEJCJ�QGB?SDEFL�CL�JH�?KWLSKeHmFp�BeO?NL�CJHKF?o?�F�CL��BLCLEJp�oLQCGEJp�NBJORLKJ�m�FBG�Em�CL�N+\DEeOJ'

ZjEL� m� �jE\� D?ECm� FGKeEI� omS� @m|� HLEL@Jp� DELSC\@Jp?o?B?QL@Jp�CL�NJFCJM\Hp� F� DLKmp� CL� K?B?Tm'''�_eHp�}?�FJBmD� FDGBM\H�CLB?KCJH�@GDCJOmFp� oeF� ELOJS� DJRICJSp�}?� WJDGRIC?DJRICm�JS�F?B?Q�CG�N?K?RLF��Ht�CLFNLOJp�N?FDELCMm�NGBGoJBLUEImCmMm\EJFe� F� DF?�� BeOJ� m� oGTN?}LKC?� o+UEI� F?B?QL'� <|G

qqn

TLQ?BmRJDI� HLEJ� FmK� TLNLRICJH� OeRIp� FmK� FJoeHmF� �BLCLEp� FmKo?RI�GFJMIOJH� BLOGE'� 6ReoJ� KJ@e� T� @?OB?�� D?R?@JT@m�LRJD\� T� @B\O?Up� KBmoCJ@� K?}G@p� T� KJ@?@� N?B?He� S�BLCLE'�_?FO?RL�WeEJ�T?SOJp�OBJOJp�o?RI�GFJMIOG�FJEE\p�CL�GNGBGORJOeFLCC\g

*�AR?NMmp�K?N?@?|mEIp�o?�DL@�CG�KL@�BLKJ�*�9H�N+\EI?Hp�L�\�?KJC�*�<FL|LSp�o?�TLH?KJEI�EGoG�TTLKe�*�<FL|LSp�o?�\�S?@e�OJCe��BLCLEe�*�PLR\QLSp�o?RI�GFJMIOL��BLCLEL�*�=J�F|G�Q?E?Fm��6?@e�EBGoL�K?N?@?QEJ��P�@?f�� W?EJ� TLQJCeF� DEB'� 6?FLRI'�V?@e� CL� T@mCe� NBJomQ

S?Q?� oBLEjMJFmRICJSp� FT\F� Be�CJMU� m� TLDEeNLf� F� o?U�oBLEL'PLQJCeF�TF+\TO?FJS�K?�O?@LCKJBLp�=JHLDI�mT�6BLSCI?�'�/G|JEIFL|O?�N?BLCGCJS�CGFmK?@JS�DEBmRGMI�T�O?EB?�DI�W?EJ'�PLQJCeRJ}G�mC�mp�}?��H�NDGFK�CG�NL@+\ELUg�?KJC�T�/m}LFJ�b?Bm�CI?�p?KJC�T�_?Rm�CI?��m�?KJC�T�DGRL�/JNJ'�7LCGCJS�7eKJS'�2B?NLFKGDI�<LCIOL'�P�W?EJ�PLN?B?|M\�TQJCeF�TCL@GCJEJS�OeR'�4?FL'

7LCGCJH� FJDJRLf@?� K?TLKe'� P� CL@J� F� NGB�mS� RmCm�FmKFL|CJS�RmOLB�aeFLB�N?KLf� K?N?@?Qe�BLCGCJ@'�0eE� ELO?|DLCmELBjNLBL�eEJDE'�6?|GC�T�CLD�CG�DH?|JS�CL�DGoG'�<?\MEF?B?TNLRJR?DI�o?f@p�CmHE?�CG�Ke@Lf�FmKDEeNLEJp�O?|GC�@?OBJSpTLo?R?WGCJSp�TL@LTLCJS�DL|GU�HLEp�}?�Q?B\EI'�2?�RJM\H�omRm�CeB?WOJp� OeKJ� DEmOLf� NmE'� 1Wm� TLS�RJ� OB?F+Up� NGWeEI� FmKo?R?EL� S� KJ@ep� FmK� oGTeDELCCI?Q?� �eOLCC\� F?B?QL� @m|Q?BmUWJ@J�HLEL@J'�`�NBJQ?R?@�GCJS�eDNmH?@�m�N?DELF?U�@?�H�WGEFGBELOmF�p� \OJ@� NBJNLF� CLSFL|WJS� FmKEJC?O'� <|G� S� CGTLR\QLUp� o?� DJRJ� CG@Lf'� dLD� FmK� WLDe� NGBGORJOLUD\� TPLN?B?|MG@g

*�bGSp�\O�EL@�EF?\�OeRG�L��V?Q?� H?B?oBm� F?\OJp� \O� m� �HCmS� W?E?FJSp� TFJFLUEID\� oGT

eQLFeg�F?\OJ�K?oBG�FJ�O?RGCm�S�TmQBLCm'X?RI�GFJOJ�TC?Fe�FmKDEeNJRJp�TLSC\RJ�DELC?FJ}Lp�S�EGNGB

mKG�F?QCGFJS�omS'2mKomQLf� K?�@GCG� OmRIOL� DEBmRIMmF� T� [j?�� W?EJp� @m|�CJ@J

NBJQLKeU�DEB'�1RGQL�mT�`FmBCJOL�7eDIO?Q?'*��?�T�FL@Jp�HR?NMm�0L�FmCp�DHFJRI?FLCJSp�B?TNLRGCJS�o?f@p�OBJWJEI�Q?R?DC?p

o?�F�MI?@e�ORGO?Em�CG�WeEJg

qqw

*�bLK�FEmO�T�N?R\�o?U�NBJ�NGB�?@e�CLDEeNm�o?RI�GFJOmFpTLRJ�JF�W?Eep�}?�EGNGB�B?TomQRLD\p�L�CLD�OmRIO?H�K?ReWLf�K?�FLD'

<mDEOL�EBJF?|CL'�2JELUg*�0?p�@LoeEIp�NBLFG�OBJR?�TLQB?|GCG�*�2?OJ�}?�Cm'� X?RI�GFJOJ� TLSC\RJ�CL�m� DELC?FJ}Lp� L

W?E'�>FLDI�TLOJCeF�NBLFG�OBJR?�m�\O?DI�N?RLELF�NB?QLRJCe':L�K?N?@?Qe�o?RI�GFJOL@�SKeEI�MJFmRICm�*�N?RIDIOL�o?�FOL

T� 6eTI@JCJ'<mK� O?@LCKJBL� D?ECm� NBJH?KJEI� K?� @GCG� CLOLTp�}?o� N?

RmCm��FmKmS�?F�BmS�7JoLOLp�}?�@eDJEI�mEJ�CL�TLDELFe�FmK�/m}LFJ_?Rm�CI?�p�o?�S�TFmKEJ�NmKDeFLUEID\�o?RI�GFJOJ'

<�K?KLEOe�T�N?R\�CL�@?f@e�RmF?@e�OBJRm�FmKDEeNJF�T�W?E?U6BJF?CmD'

*�X?KLS�EGoG�KmKIO?�FT\F�T�ELOJ@�6BJF?C?D?@'�:LSomRI�mo?\QeTJ�NBJoJBLUEI�D?om�NDGFKL�CLSDRLFCm�JH�RUKGS'

6mRIO?H� DEBmRIMmF� T� Mmf�� W?EJ� ELO?|� K?ReWJRJ� K?� @GCG'4F?fU� W?E?U� RLELU� FmKEJC?Op� KG� oeRL� W?EL�6BJF?C?DL'� _LRmRmF?BeW�TLFT\EJS�omS�FGKG�OjB�d?BCJS'�:LKmf@?D\p�}?p�@?|GpDNBLFKm�FmC�NmKG�FNGBGKp�CLD�FmKE\|JEIp�m�NGBG@?QL�oeKG�TL�CL@J'

8RG�EeEg*�ABmCp�DEBJ@LS�F?Q?CI�'''2JELU� N?� RmCm�p� HE?� MG� OBJWJEIp� WJ� CG� o?RI�GFJOJ'�2?

RmCm��N?KLUEIg*��G�6B?F�om|JEI�oGT��LNOJ�T�BeWCJ@�OeRG@GE?@':LOLTeU�DEBJ@LEJ�F?Q?CI'�_?�CL�?��RmCm��K?omQLf�T@eWGCJSp

oGT�L@eCmMm��DEB'�6B?F'�PQ?R?�efp�}?�NmK�WLD�NB?EJCLDEeNe�FmCTLQCLFD\�TL�o?RI�GFJOL@Jp�FoJF�OmRIOLCLKM\EI?H�mp�FJDEBmR\F�JL@eCmMmUp�EGNGB�N?FGBELfEID\'�/JMG�S?Q?�TLo?R?WGCGp�OeRG@GETL@LTLCJS� QRJC?Up� F?R?DD\� B?TOeS?FK|GCGp� EmRIOJ� ?WmmDOB\EID\'� <mC� @DEJFD\� TL� DF?Q?� KBeQL�1QC\p�}?� FNLF� e� DGRm0B?DE\CMm�F�o?U�T�o?RI�GFJOL@J'

<?B?Q� TLH?FLFD\� K?oBGp� E\|O?� S?Q?� oBLEJ� CL� MmRIp� E?@eN?KLU�N?�RmCm��CLOLTg

*�2L@+\ELEJ�NB?�NGBGHBGDCJS�F?Q?CI��2BLFG�OBJR?�oLWJEINGBGKNmRR\�m�F?B?QL�NGBGK�WGEFGBE?U�W?E?U'�<mKOBJEJ�EeKJ�F?Q?CI�0BGE\�W?EL�oLWJEI�NGBGKNmRR\�KBeQ?��W?EJ'�<mKOBJEJ�EeKJ�F?Q?CI�

2B?� MG� NL@+\ELU� N?DEmSC?�� <TLf@C?� FmKE\|eFLEJ� ?KCm?KCJH�m�DNmFKm\EJ'

:LKm� @C?U� TLDFJDEmRJ� K?FQm� WGBQJ� T� �@LODJ@L�'�=?f

qqk

DELC?FJ}G�TLNBJ@mEJF�B?S'�4JCmS�m�ORJWG�@GCG�K?�B?Qe�HLEJ'PL�\OJH?DI�q[��@GEBmF�e�QeDEJH�Oe}LH�TKmS@LUEID\�OReoJ�KJ@e'<�@B\Mm�@?|CL� B?TBmTCJEJp�}?� EL@� DEBmR\f� �@LODJ@�'�4JCmSFGDI�WLD�DEBmR\f�T�Be�CJMmp�L�O?RJ�M\�F|G�DELRL�QLB\WLp�FmKoJBLf@LFTGBL�FmK�DLCmELBL�4EBmRIM\�m�KLRm�FGKG�MmRICJS�F?Q?CI'�<|GFNLR?�OmRIO?H�o?RI�GFJOmF�omR\��@LODJ@L�'�2BJ�D?om�@LU�EBJKJDOJ�K?�22a'�2BJMmRUUDI�m�FJDJRLU�MmRJS�KJDO�N?�O?BWLHpKG� o?RI�GFJOJ� DE\QLUEI� EBeNmF� T� �@LODJ@L�p�}?o�NGBGCGDEJS?Q?�S� DEBmR\EJ� KLRm'�4JCmS�oGBG� F|G� EBGEU�Be�CJMU�S�o+fo?RI�GFJOmF'� XmR\� DL@?Q?� �@LODJ@L�� S� e� EJH� Oe}JOLH� oeR?FoJEJH�qY�o?RI�GFJOmF'

1KWLSKeH�XJDEBJSp�}?�FNGBD\�m�CG�H?WG�TRmTEJ�T�?o?B?QepTQ?R?�efp�}?�F�CL�?@e�CLNB\@m�K?�o?RI�GFJMIO?��RmCm�� �KeEIEBJ�LFE?@L�JCJ'�2?NGBGKe�Rm@eTJCLp�L�TTLKe�*�KFm�FLCEL|CmpCLRLK?FLCm�FmSDIO?@'

:L��R\H�DE\QLU�N+\EI�OeRG@GEmFg�KFL�T�Zj?��W?EJp�L�EBJ�*�T�j?�g� KFL� @LK\BDIOmp� KFL� B?DmSDIOm� S� ?KJC� Cm@GMIOJS�=�jZ.'X?RI�GFJMIOm�@L�JCJ�TLBLT�N?OL|eEID\�CL@�CL� Q?Bo?WOe�TL\OJH?DI� Y��� @GEBmF'� <|G� N?\FJRLDI� Rm@eTJCLp� TFmRICJRL� omQtKLRm�N?OLTLRJDI�KFm�FLCEL|mFOJ'�6BJWe�CL�FGDI�Q?R?Dg

*�2GBGCGDEJ�F?Q?CI�CL�LFE?@L�JCJ'beBL�LC?@�TLQBLRL�ToB?\'�:LTLF|KJ�DELCeRL�Rm@eTJCLp�L�T

FLCEL|CJH�LFE?@L�JC�@LR?�HE?�TmDO?WJF'�XmRI�mDEI�N?oJE?�SFL|O?� N?BLCGC?'�_G\Om� N?FJDRJ� CL� KB?ELH� omWCJMI'� <KLR?D\�:L�ELOe�QReN?Ee�TKLECm�HmoL�}?�o?RI�GFJOJ'

<JDJRLU�TF+\TO?F?Q?�K?�OjBL�A?@J�T�N?FmK?@RGCC\@p�}?[jEL� W?EL� B?ToJEL'� bLK� eEmO� T� N?R\� o?U� m� FmKDEeNJF� T� W?E?U6BJF?CmDp� ELO?|� oGT� CLOLTe'��?o� CG� EBJF?|JEJ� O?@LCKJBLpN?FmK?@R\Up�}?�CL�NBLF?@e�OBJRm�DELC?FJ}L�[j?��W?EJ�TLSC\FW?E'� >FLDI� mT� DF?fU� W?E?Up� L� CL� @mDMG� qj?�� W?EJ� \� B?TE\QCeFWGEFGBEe'� :L� TLOmCWGCC\� N?FmK?@R\U� NB?� CL�� eDNmH� T�@LODJ@?@�� m� o?RI�GFJMIOJ@J� LFE?@L�JCL@J'

�G�TF+\TO?FJS�CG�N?FGBCeFD\p�L�F|G�DEB'�XJDEBJS�T�?o?B?QeN?KLFp�}?�F�CL�?@e�CLNB\@m��KeEI�KFL�LFEL'�PL�HFJRJCe�N?NBLFJFg

*�_FL�ELCOJ��PL�CJ@J�NmKDeFLfEID\�o?RI�GFJMIOL�B?TDEBmRICL'2?DJRLU� TF+\TO?F?Q?� K?� O?@LCKJBL� T� NJELCC\@g� ��?

B?oJEJp�ELCOJ�SKeEI���5�FmKN?FmKI�KmDELU�CLOLTg��2BJQ?E?FJEJNB?EJELCO?Fm��BLCLEJp�L�NLBL�eEJDEL@�*�@mCJ�EL�BGW?FJCJ�FNR\�OLH�m�TCJ}JEJ��H�'

q.�

:LOLT�*�BmW�DF\EL'�2?FmK?@R\U�NLBL�eEJDEmF�m�K?@?FR\UD\ELOg�NGB�e�ELCOGEOe�NB?NeDEJEJt����@J�RmOFmKef@?�NB?EJELCO?jFJ@J��BLCLEL@Jt�KBeQe�CGHLS�TCJ}LEI�NLBL�eEJDEJ'

_?@?FJRJDI'� 2LBL�eEJDEJ� NmKDeCeRJDI� OmRIOLCLKM\EIOB?OmF�FNGBGK�m�TLR\QRJ�omR\�?KCmf��HLEJ'

=?\�QBeNL�e�DORLKm�4JCI?Q?p�XJDEB?Q?p�=eHJ�S�}G�KF?HDEBmRIMmF�TLR\QLfg�oRJTIO?�K?B?QJ�*�\�EL�4JCmSp�m�O?R?�HLEJ�*=eHLp�XJDEBJS�EL�EJH�KF?f'�PL@LDO?Fef@?�DGoG�~LD?R\CO?UpQ?B?H?F+\CO?U�m�|KG@?'

7?S'�PLRmTCJS�KmDELF�TLFKLCC\�FmKOBJEJ�F?Q?CI�T�KBeQ?Q?o?Oe�K?B?QJp�TjTL�RI?Hep�N?�FG|m�?oDGBFLE?BL�S�FGDI�WLD�T�=�jZ.�?oDEBmRUFLEJ�ELCOp�}?o�eFLQe�?oDReQJ�TFGBCeEJ�CL�DGoG'

>KeEI�EJH?�CL��e@?FJH�O?RGDLH'�deEJ�RGQOJSp�LRG�DJRICJSFmKKJH�@?E?Be'�<DG�oRJ|WGp�oRJ|WG'''�0B\DGEID\�TG@R\'�6BmTIRJDE\� oLWep� \O� ELCOGEOL� SKG� TJ�TL�L@Jp�}?o� OBL}G� oLWJEJeTomWW\� K?B?QJ'� 7?TKmR\f� CLD� OmRIOL� @GEBmF'� PLQBLF�=�jZ.'0LCOGEOL� NB\@?� NGBGK?�@C?U'�dLD��2mKF?K|eD\� m� NmK� O?RGDLOJKLU�EBJ�TF+\TLCm�NB?EJELCO?Fm��BLCLEJ'�<JoeHp�KJ@p�B?ToJEGOL@mCC\'�_TF?CJEI�e�FeHLH'�:G�TCLUp�WJ�E?�CG�FmKRL@OJ��BLCLEN?BLCJRJ�@GCG�F�eDEL'�<JEJBLU�OB?F�m�CGN?Be�C?�RG|e�KLRm'XmR\� ELCOL� FJoeHLUEI� �BLCLEJ� DEBmRIMmF'�2mKF?K|e� Q?R?Fe�*ELCO�F|G�Q?E?FJS'�4OBeWGCJS�DE?�EI�CGKLRGO?�B?Fe'�PLRmTCJSOBJWJEIp�}?� FoJF� o?RI�GFJOLp� O?RJ� E?S� H?EmF� FJDO?WJEJ� TELCOGEOJ'�<DELU�m�NGBGDOLOeU�TL�HLEep�}?�Q?BJEI'

8|�EeE�DeCG�KBeQL� ELCOGEOL'�dGBQL�TL�WGBQ?U�DEB?WJEI�TCG�� OeRG@GE'� <BLT� oLWep� NmKC\FD\� NLBL�eEJDEp� @LSCeRL� BeOLpoRJDCeRL�NR\�OL�*�m�F�?KCmS�DGOeCKm�TLQ?BmRLDI�ELCOGEOL'�PjNmKKL�OL�FG|m�N?OLTLRLDI�Q?R?FLp�DJNCeRL�WGBQL�T�22ap�L�@?|GpMG�oeRL�WGBQL�KGDI�mTTLKep�TjN?@m|�HLEp�WJ�FNLF�N?DEBmR�T�NmDE?RmELCOmDELp�o?�Q?Km�oeR?�E?Km�B?TmoBLEJDI'�:L�RJMm�F�NLBL�eEJDELOB?F'�<mC�QR\CeF�e�KTGBOLR?�mp�N?oLWJF�Jp�}?�BLCGCJSp�CLQLC?@K?DEBmRJF�DGoG'�V?Q?�NDGFK?p�TKLfEID\p�oeR?���BJTmfB�p�WJp�@?|GpFmC�ELOJ�oeF�NGBeOLBG@p�K?oBG�CG�NL@+\ELU'

X?RI�GFJOJ�N?FJDOLOeFLRJ�T�ELCOGEOJp�}?�Q?BmRL'<mKoJFLUWJ�ELCOJp�\�CG�TLNBJ@mEJFp�}?�FmSDIO?�FmKDEeNJR?

m� TLRJ�JRJDI� EmRIOJ� CL� NBLF?@e� o?Mm� K?B?QJ� NLBL�eEJDEJ� SPLN?B?|GMI'

<BLT�e�DLKLHp�F�KJ@LH�m�@B\Mmp�N?OLTLRLD\�B?TDEBmRICL'�`\O?DI�CL�HFJRJCe�TLoeF�NB?�EGp�}?�TL�ELCOL@J�CLDEeNLf�NmH?EL'

q.q

_?FOBeQJ�TWJCJRLDI�TLFT\EL�DEBmR\CJCL'�XLWep�\O�TLQ?BmRLD\DE?K?RL� T� BLCGCJ@Jp� WeU� �HCm� T?SOJ'�=Jp�}?� TLRJ�JRJD\� TRmF?Q?�o?Oe�K?B?QJp�B?TomQRJDI�@m|�HLE�m�o+f@?�o?RI�GFJOmF'�`CG�H?EmF�Ke@LEJ�NB?�FmKDEeNp�oLWeWJ�B?ToJEm�F?B?|m�ELCOGEOJ'2B?DE?�CL�@GCG�e�B?TDEBmRICmS�DLKL@J�SKG�DG@GB?�o?RI�GFJOmF'4E?U� TL� FeQR?@�B?TFLRGC?�� HLEJ�S� K?FQJ@J�WGBQL@J� T�22aDEBmR\U�N?�CJH'�1KCm�FNLRJp�mC�m�TLR\QRJ'�=LU�KGOmRIOL��BLCLEm� N?DJRLU� �H� ?KCe� TL� ?KC?U'� <?B?Q� FJOmCWGCJS'� PLDRmNRGCJSeDNmH?@p�\�TLoeF�NB?�?oGBG|CmDEIp�FJDeCeFD\�MmRJ@�EmR?@�TjTLFeQRL�EL�DEBmR\U�K?�o?RI�GFJOLp�}?�OLWLfEID\'�<BLT�FmK�K?B?QJF�@?U�DE?B?Ce�TLDEB?WJRL�OeRG@GECL�WGBQL'�=?\�NBLFL�BeOLoGTDJR?�N?FJDRL'�8FE?@LE�FJNLF'�̀ �QR\CeF�NGBGK�DGoG�m�N?oLWJFCL�K?B?Tm�EBGEU�ELCOGEOe'

_?FOBeQJ�CmO?Q?p�WeEJ�EmRIOJ�OBJOJ�o?RI�GFJOmF'�:G�@?|CLRJ�JEJ�F?B?Q?Fm�ToB?�p�E?@e�E\QCe�LFE?@LE�C?Q?U'�:L�QBeK\HN?�@LE?FLCL��JCGR\�S�oRUTLp�DNRJFLf�OB?F'

deU� OBJOJg*�XLCKmEp�oLCKmEp�TKLFLSD\�''Xm|LEI�K?�@GCG�T�OmRIO?H�DE?BmC'�A?We�K?oeEJ�CLQLCLp�}?o

TLDEBmRJEJDIp� EL� CG�@?|e�BeOe� TKmSC\EJ'�=GCG� ?Q?BCeF�|LHg|JFMG@�N?NLKe�F?B?Q?Fm�F�BeOJ'�<�E?Bom�@LU�|�N?m@GCCm�DNJDOJDEBmRIMmF�@?f��W?EJ'�<?CJ�N?NLKeEI�F�BeOJ�F?B?Q?Fmp�m�N?EGBNR\EIB?KJCJ�@?�H�F?\OmF'�6BL}G�TQ?BmEJ�F�?QCm'�Xm|e�F�HLEeg����KLHe|G� TLFLRJFD\p� DEmCJ� mTT?FCm� Q?B\EIp� LRG� FDGBGKJCm� DEmCLpTLRmNRGCL�QRJC?Up�}G�CG�TLC\RLDI'�<�HLEm�N?FC?�KJ@e'

X?RI�GFJOJ� om|LEI� DRmK?@� TL� @C?U�*� H?WeEI� DH?NJEJ|JFMG@'�0L�F�CG}LDEm�TLF|KJ�}LDE\'�_?omQLU�K?�B?TFLRGC?Q?FmOCLp�OeKJ�FmKDEeNLRJ�DEBmRIMmp�m�O?@mEI�Q?R?F?U�NGBGOJKLUD\CL�KBeQJS�omO'�0B?HJ�?oQ?BmR?�F?R?DD\'�<mKBLTe�TL�HLE?U�KmDELUWGBQe� T� OeRG@GELp� CL�}LDE\p� F� N?Re� NRL}L'� Xm|e� K?� N?E?Oe'=GCm�DELf�EGNR?p�m�\�NLKLU�e�F?Ke'

���

AE?DI� @GCG� NmKmS@Lf'�2?BeW� DE?�EI� FmBCJS� DEB'�=eHL� ELmC�m�*��HCmH�NDGFK�CG�NL@+\ELU'�<?CJ�NBJomQRJ�N?�@GCG'�1KCmTLR\QRJp�FmKoJFLUEI�o?RI�GFJOmFp�mC�m�omQMG@�FmKH?K\EI�N?E?O?@pEBJ@LUWJ�@GCG�N?NmK�o?OJ'�`�F|G�F�RmCm��CL�JH'�PC?Fe�T?@RmF'

6?RJ�B?TNRU}JF�?Wmp�\�RG|LF�CL�NRL}NLRLEMm'�:LKm�@C?UDE?\F�OjB�A?@L'�2?oLWJF�Jp�}?�\�FmKOBJF�?Wmp�FmC�DHJRJFD\'�`

q..

FmKWeF� CL� DF?�S� }?Mm� S?Q?� o?B?Kep� S?Q?� QLB\WG� RJMG'��GQLB\Wm�J@J�oeRJ�O?@LCKJB?Fm�oLEIOmFDIOm�DRI?TJp�}?�DOBLNeFLRJ@GCm�CL�}?OJ'�2L@+\ELUp�\O�FmC�CLOLTeFLF�DEBmRIM\@g

*�:G� TLRJ�LSEG� S?Q?p� FmC� FL�� W?E?FJS'� <J� oLWJEGp� \ODRLFC?�oJFD\'�<mC�*�QGB?S'''

:L�Mm�DR?FLp�}?�DFm|J@�DEBe@GCG@�FRJFLRJD\�@GCm�F�Ke�ep\�FJDE?QCLF�}Gg

*�6?@LCKJBGp�CG�RJ�LS�@GCG��_?oJS��4OL|J�@?�S�K?WMm/mRmp�OeKJ����oLEIO?�Nm�?F�EL�TL�}?�TLQJCeF'''

=GCG�CGDRJ�N?R\@Jp�KGoBL@Jp�E\QRJ�N?�QRJCmp�LRG�o?RU�\CG�FmKWeFLF'

XmS�T�ELCOL@J�FmKoeFD\�@m|�qZ�*�qY�Q?KJC?U'�=GCG�CGDRJF|G�EBJ�Q?KJCJp�LRG�}G�CmHE?�CG�oLCKL|eFLF'�AFJRJCL@J�EBLWeNBJE?@CmDEIp� HFJRJCL@J� TKLU� D?om� K?oBG� DNBLFep� }?� ?DICLDO?WLEI� o?RI�GFJOJp� DEBmRIMm� TLRJ�LEI�@GCGt� DL@� DGoG� CGK?DEBmRU� m� N?NLKe� |JFMG@� F?B?Q?Fm� F� BeOJ'�=?�� DEBmRIMmFE?@JRJDI'�2GBGoJBLUEI� @GCG� mC�mp� CGDeEI� NmK� QBLK?@� OeRIWJDEJ@�N?RG@�F�CLNB\@m�NBJDmROL�7GoGBGMI'

8� o?RI�GFJOJ� TC?Fe� oRJTIO?'� VKG� DOL|GCJS� omS'� :LNBLF?@e�OBJRm�O?@LCKef�OjB�A?@Lp�L�CL�RmF?@e�*�OjB�d?BCJS'_?FO?RL� DFJDEp��e@� m� EBmDOmE� OeRG@GEmF'� 0L� ?DI� Dmf� WGBQL� N?@?�S�NLRLEMm'�1KJC�DEBmRGMI�BLCGCJSp�NLRLEOL�KGBGEID\p�m�@GCGTLRJ�LUEI'�<JBJCLf�N?DELEI�KmFWJCJjQGB?\�4EGN?F?�'

:G� TLR\QLUWJp� F?CL� T� NmDE?RG@� e� BeOLH� om|JEIpDN?EJOLUWJDI�CL�DOJoLHp�TLFGBELf�DEBmRIMmF'�deU����OBJOg

*� 0LO� CG� OBLDJF?p� KBeTT\p� ?DELFR\EI� S?Q?��*�4EGN?FLN?H?KJRL�T�2?RELF}JCJ'�*�4EBmR\EJ@ep�DGSWLD�TLoGBmEI�S?Q?�

:L� K?N?@?Qe� �S� NBJomQ� 6BG@mCIp� eOBL�CGMI� mT� DHmKCJH?oRLDEGSp� m� ELO?|� LFE?@LE?@� TLFGBELf� DEBmRIMmF'�2?Em@� oLWe4EGN?Fe�TC?Feg�T�NmKCGDGCJ@�W?R?@p�DN?OmSC?�FmKDEeNLRL�F?CLN?RG@�K?�@mDM\p�OeKJ�FmKH?KJRL�CL�L�RmCm\'�1KCL�NLRLEOLp�N?FCLOB?FJp�TLRJ�JRLDI�CL�N?Rm'�0GNGB�KBeQL�NLRLEOL�m�NmK�CGU�O?MTC?Fe� CLN?FCJRJDI� OB?F+U'�2?BFLCm� o+UWOJp� NGBGoJEm� BeOJpO?DEm'�2?�K?B?Tm�WeUp�\O�DEBmRIMm�CLTJFLUEI�m@GCL�N?R\QRJH�mQ?F?B\EI�NB?�O?Q?DIp�HE?�TLQJCeF�CL�Q?Bmp�LRG�S?Q?�NBmTFJ}L�CGCLTJFLUEI�NGBGKm�@C?U'�`�EmRIOJ�N?WeF�DR?FLg

*�d?E?FJS�6BJF?CmD�CG�H?EmF�omQEJ�K?�CI?Q?p�Cm�E?BoJp�CmToB?��FT\EJ'�PL�EG�W?E?FJS�2mKO?FL�H?EmF�S?Q?�TLDEBGRJEJ'

=GCG�MG�TLMmOLFJR?p�LRG�\�CG�@mQ�NB?@?FJEJ�S�DR?FL'

q.�

PC?Fe�FEBLEJF�NBJE?@CmDEI'�_GDI�@m|�DGRL@J�/m}LF?U�S/m@C?U� ?NBJE?@CmF'� 4LCmELBjNLBL�eEJDE� TB?oJF� e� FGCemC+fOMmUp�m�\�FmKBLTe�DmF�CL�NLRLEMm'�=GCG�EeE�?oLCKL|?FLC?'

2BJOB?�FBLTJR?�EGp�}?�omR\�DGoG�CG�oLWJF�Cm�NmDE?R\p�Cm�E?BoJ'9H�TLoBLF�W?E'�>FLDI'��LRI�TL�NmDE?RG@p�oGT�ToB?��F�MmS�HFJRJCm�\N?WeFLF� DGoG�CGjF?\O?@'�_Be|CmS� m�@JRJS�NLBL�eEJDEjDLCmELBFQ?F?BUf�@GCGp�}?�FDG�EG�KBmoCJM\p�}?�ToB?\�oeKG'�2?Em�Lfp�}?�\DO?B?�NBJSKe�K?�DGoG�S�|JEJ@e'��LRI�TL�NmDE?RG@�E?@ep�}?�FmC*�NL@+\EOL�FmK�OjBL�A?@Jp�L�KLRGO?FJK�*�NL@+\EOL�FmK�2LDEGBCLOL'

XmS�OJNJEI�KLRm'�X+UEID\�HR?NMm�TLFT\E?�TL�O?|CJS�TLQmCpTL� O?|Ce� DOJoe� BmKC?�� TG@Rm'� 4EBmRIMm� HFLR\EI� \O?Q?DIOeRG@GECJOL�2LFRL�mT�D?ECm�OjBL�d?BC?Q?'

<|G�CGKLRGO?�FGWmB'�=GCG�TLRJ�LUEI�CL�Q?Bm�mT�DEB'�=eH?UpL�BG�EL�DEBmRIMmF�K?ReWLfEID\�K?�W?E'

0eE�T+\FJRJDI�DmRIDIOm�KmFWLELp�NBmTFJ}��HCmH�CG�NL@+\ELU'A?W�o?RI�GFJOJ�oeRJ�oRJTIO?p�F?CJ�N?ORLRJ�@GCG�CL�QRJCJMmF?TLp� NBJOBJRJ� OLBE?NRJCC\@� m� N?@m|� o?RI�GFJOmF� EL� OeRmN?�HLRJ� F� K?Rm�CmS� OmCGMI� DGRL'�2?RG@� om|JEI� CGFmKDEeNCJSDEB'�=eHL'�6?RJ�FJ@JCeRJ�o?RI�GFJOmFp�FmC�TC?Fe�omR\�F?TL'_mFWLEL� TCLRJ� @GCG� K?oBGp� o?� F� MI?@e� DGRm� \� FJ�O?RUFLF@mDMGFJH�HR?NMmFp�}?�oeRJ�F�@?�S�W?Em'

=GCG� TLFGTRJ� K?� NB?DE?B?�� HLEJ� TL� N?EmWO?@'�2BJS�?FDUKJ�2LDEGBCLOp�}?�FJB\K|LF�oeF�@GCG�K?�D?ECm'�PL?NmOeFLFD\@C?U�}JB?'�P�CJ@�eFGDI�WLD�omR\�@GCG�6LK?FoGMI'

<|G�EG@C?'�XmS�OJNJEI�CL�Q?BLH�@m|�/m@C?U�EL�bB?TI?F?U}G� Q?KJCep� L� N?Em@� DEJHLf'� �mR?KGCCJS� omS� TLOmCWJFD\'� `Om|GBEFJ�F�CLDp�}G�CG�TCLU'

`� TLDCeF'� 6?RJ� NB?oeKJFD\p� FmKWeFp� }?� oeKe� F@JBLEJ'2B?�e�NBJFGDEJ�DF\}GCJOL'��G�N?@mEC?�FBLTJR?�KBeTmFp�m�F?CJN?De@CmRJp�LRG�N?DReHLRJ�@GCG'�2BJS�?F�NLC?EGMI�b'�4N?FmKIK?F?KJR?D\�NGBGBJFLEJ�KGOmRIOL�BLTmFp�o?�\�WLDE?�F@RmFLF'�6?RJDOmCWJRLDIp�@GCm�DELR?�RGQ�Gp�m�\�TC?Fe�TLDCeF'

���

4CJEID\�N?QLCJS�D?C'�1DI�NBJH?KJEI�K?�@GCG�KJ\F?Rp�H?WGNB?oJEJ� @GCG� B?TNLRGCJ@J� FJRL@J'� <NJHLf� NLTeBm� F� BeOJ'<mKBJFLf��H'�<�NB?D?CCm�OBJWeg

*�d?BE��d?BE�0L�e�FmKN?FmKI�CL�@mS�OBJO�\�N?WeF�Cm|Ce�FmKN?FmKIg

q.Z

*�:mp�MG�CG�W?BE'��G�\'''�KmFWJCLjN?FDELCGMI'''�`'''�4?~m\'''bLB\WOL� TomRI�efEID\p� N?WJCLU� @L\WJEJ'� deU� oRJTIOe

D@GBEI'�4?~m\� N?ORJOef�2LDEGBCLOLj4ELB?Q?� m�6LK?FoM\p�}?DE?\RJ�CLKF?Bmp�T?B\WJp�WJ�CG�SKeEI�o?RI�GFJOJ'�5FmS�?F�JF�HLEep�F?CJ�?oDEeNJRJ�@GCG'

5@JBLEJ�@GCm�CG�FL|O?'�bBmHL�CG�@LU'�<�Ke@Mm�}G�DCeUEIDR?FL�?'�b'�mT�DN?FmKm'

`�FEBLEJF�NBJE?@CmDEI�m�TC?Fe�TLDCeF'2B?oeKJFD\'�<�HLEm�EmRIOJ�4?~m\�DJKJEI�omR\�@GCG'�PC?Fe

FH?K\EI�4ELBJS�m�6LK?FoGMI'��GS�K?@LQLfEID\�NGBGCGDEJ�@GCGCL� TLRmTC?@e� Rm|Oe� K?� DELB?�p� NmKNGBE?�� O?RL@Jp� CGN?@mEC?�HLEJ�T�FJoJEJ@J�FmOCL@Jp�}?�TLoJEm�K?�OL@Jt�e�EmS�HLEm�|JFGDELBJSp�omKCJS�OLRmOL'�0L@�oeKG�oGTNGWC?'�PLFEBL�@?|eEI�oeEJB?T�eOJ� TL�BLCGCJ@J'

0LOJ�Emf��|�C?Wm�CLK�BLCO?@�@GCG�NGBGCGDRJ�WGBGT�N?EmOpK?�DELB?��HLEJ'

���

`O�KLRm�NB?H?KJF�omSp�CG�TCLU'�PQLKLU�HmoL�EGp�}?�WeF�NmTCm�GFmK�KBeTmF�*�@?�H�F?\OmF'

5� HFJRJCJp� O?RJ� K?� CL�?�� RmCm�� CLoRJ|eFLRJD\� ELCOJpFGRJOm�DJRJ�o?RI�GFJOmF�FKLBJRJ�CL�DGR?�/m}LFe�b?Bm�CU�FeDmS� S?Q?� K?F|JCm� mT� TLH?Kep� N?WLF�J� FmK� FGBHmF� 7?TE?OmFp6eTI@JCJ� EL� FmK��R\He� /m}LFL� _?Rm�C\�*�6eTI@JCL'��GmC�m� o?RI�GFJMIOm� QBeNJ� FBmTLRJDI� ORJC?@� FTK?F|� K?B?QJpNmKEBJ@LCm� EBGEI?U� ELCOGEO?Up� NGBGE\RJ� CL�e� RmCmU� m@JEEfFJ@�CLDEeN?@�H?EmRJ�TL@OCeEJ�CL�G�NBLFG�OBJR?'�1KCLONBLFG� OBJR?�*� .jQL� S� �jE\� W?EJ�*�NB?oJR?DI� CL� N?R\�@m|DGRL@J� /m}LF?U� S� /m@C?Up� KG� N?� N?R\Hp� Q?BoOLH� m� RmDOLHNB?K?F|eFLR?�omS'

>C�m�o?RI�GFJMIOm�QBeNJ�Nm�RJ�K?B?Q?U�T�6BJF?Q?�F�CLNB\@mDGRL�/m@C?�p�}?o�?E?WJEJ�RmFG�OBJR?p�KG�oeRJ�@?\�W?EL�S�D?EC\OjBL�d?BC?Q?'�<GRJOJS�omS�B?TQ?BmFD\�CL�N?R\H�@m|�/m@C?U� m/m}LF?Up�L�ELO?|�F�RmDm�@m|�/m@C?Up�/m}LF?U�S�6BJFJ@'�:L�Q?Bm@m|�/m}LF?U�S�/m@C?U�TLQJCeF�OjB�A?@L'�4?ECGU�O?@LCKeFLFKLRm�PLN?B?|GMI'�:L�FGBHLH�N?KmRJRJD\�CL�@GC�m�QBeNJp�}?�FGRJDL@?DEmSC?�CLDEeNLRICmp�BeH?@m�S�FmKF+\TeFLRICm�o?�'�6jBL�A?@eN?H?B?CGC?� CL� FGBHep� L� NmK� RmD?@�*� KF?H� CGFmK?@JH� CL�JHDEBmRIMmF'�1KCL�@?QJRL� f� F� RmDm�@m|� Q?Bm�Cm@�OmCMG@�/m}LFJ� m

q.[

K?B?Q?Up�}?�FGKG�T�6BJF?Q?�CL�/m@Ce'�0JH�KF?H�F?\OmF�TCLSKGC?F�RmDm�T�N?FJK?FoeFLCJ@J�?WJ@Lp�FmKBmTLCJ@J�\TJOL@J'''

XmS� NB?K?F|eFLFD\� K?� ..� Q?KJCJ'� PLQLR?@� FmC� EBJFLFq[�Q?KJC'�<�CI?@e�oBLRJ�eWLDEI�N+\EI�W?E�OjBL�A?@J�m�EBJ�*OjBL�d?BC?Q?p�BLT?@�N?CLK�[���RUKGS�EL�n�jw��OeRG@GEmF'�:L�Lo?S?FL�RmCm\�@LRL�FmK���K?�w�OmR?@GEBmF'�<?CL�WLDE?�TFe|eFLRLDILo?��JB�LRL'� X?RI�GFJOJ� OJCeRJ� .� [��� F?\OmFp� EBJ� ELCOJpKGOmRIOL��@LODJ@mF��EL�N?CLK�.���RGQOJH�OeRG@GEmF'

:L�m�FEBLEJg�qn�FoJEJHp�w�N?BLCGCJHt���BLCGCJH�TQ?BmR?p�.N?@GBR?�FmK�CGFGRJOJH�BLCp�}?��H�?EBJ@LRJ�FmK�CGNGBGFmBGCJHOeRI'�P�MJFmRIC?Q?�CLDGRGCC\�FNLR?�KGOmRIOL�?Dmop�oeR?�KGOmRIOLBLCGCJHp� DGBGK� CJH� Q?DN?KLB� EL� Q?DN?KJC\� F� HLEmp� e� \OmSNGBGoeFLF�N?W?E'��JFmRICG�CLDGRGCC\�E?BEeB?FLC?�S�oJE?'�2mKWLD�N?o?�F�m�NmKNLRmF�HLE�o?RI�GFJOJ�Q?F?BJRJp�}?�MGp�@?FR\FpTLNRLEL� TL� EGp� }?� TLQJCeF� �HCmS� O?@LCKJB� �N?� o?Bof� ToLCKmEmT@?@�'��G�oeR?�NmKEFGBK|GC?�NmTCm�G'

:L�K?N?@?Qe�o?RI�GFJOL@�NBJS�RL�N?RIDIOL�WGBF?CL�o?�FOLT�DGRL�6eTI@JCJp�DJR?U�W?R?FmO�DE?'�<?CL�FNmS@LRL�KF?H�CL�JHBLCGCJH�T�[j?��W?EJ�CL�Q?BLH�@m|�DGRL@J�6eTI@JC?U�S�/m}LF?U'=LS|G�FDm�CL�m�FoJEm�oeRJ�NB?O?RGCm�o?RI�GFJMIOJ@J�oLQCGEL@J'

<�MI?@e�o?U�TLQJCeRJg�OjB�A?@Lp�DEB'�=JHLDI�T�6'p�DEB'�6?FLRIEL�S?Q?�oBLE� m�}G�?KJC�CGFmK?@JS�T�/m}LFJ�b?Bm�CI?�p� ?KJC� T/m}LFJ�_?Rm�CI?�p�?KJC�T�/JNJp�DEB'�4?FL�T�bLRJWJCJp�NLBL�eEJDEp\OJS� TCJ}JF� ELCOp� m� mC�mp�}?� �H�N?H?K|GCC\� m� NDGFK�CG� TCLU'7LCGCm�oeRJ�W?E'�ABmCp�B?S'�<?B?C��DJC�FK?FJ�T�/m@C?���EL�mC�m'

<�?KC?@e�WJDRm�|eBCLRe��>KG\�S�dJC�p�e�O?B?EOmS�TQLKMmoeR?�N?KLC?�@GC�G�WJDR?�CL�JH�eoJEJH�m�N?BLCGCJH�e�MI?@eo?Up�\O�FEBLEJ�F?B?QL�CLTFLC?�q[��RUKGS'��\�C?ELEOL�CGE?WCL':L�m�FEBLEJ�TCLU�T�WJDRL�DEBmRIMmFp�N?H?FLCJH�e�Q?Bm�CI?@eOmCMm�DGRL�/m}LFJ�S�CL�Q?BLH�CLK�DGR?@�/m@C?U'

<?B?Q�@LF� .�n� eoJEJHt� ELOG� WJDR?�N?KLRJ�o?RI�GFJOJ� F2GBG@J�Rm� S� _?oB?@JRmt� ELO?|� 76�62�o�5� CL� NLBEmSC?@eTmoBLCCm�N?KLFLF�ELOG�WJDR?'�4F?�H�eoJEJH�o?RI�GFJOJ�FJFGTRJLFE?@L�JCL@Jp� FmKQLC\UWJ� CLDGRGCC\p�}?o� CG� oeR?� DFmKOmF'<EBLEJ�F?B?QL�oeRJ�FGRJOm�E?@ep�}?�@J�@LRJ�K?oBm�DELC?FJ}LpL�FmC�CLDEeNLF�WJDEJ@�N?RG@�QeDE?U�RLF?U'�`O}?�o�CG�FEGWLW?E'�bLKL�m�DL@?FmRICJS�FmKDEeN�W?E'�6BJF?C?DLp�E?�@J�@?QRJ�oEBJ@LEJ� omS� K?� DL@?�� C?Wm� CL� EJH� |G� DELC?FJ}LH� m� NmKNBJOBJEE\@�C?Wm�FmKDEeNJEJ�S�FmKF+\TLEJD\'

q.Y

<�K?KLEOe�F?B?Q�FEBLEJF�EeE�?KC?Q?�QGCGBLRL�T�KGOmRIO?@LFJ}J@J�DELB�JCL@Jp�}?��HLRJ�oeRJ�F�Rm@eTJCm'�PLDReQL�F�MI?@eB?S'� PLRmTC?Q?� EL� KF?H� OeRG@GECJOmF� T� W?EJ� PLN?B?|M\p�}?MmRICJ@�F?QCG@�TCJ}JRJ�NGB�e�@L�JCe�*�Rm@eTJCep�L�KLRI�mN+\EI�OeRG@GEmF�*�KBeQep�FLCEL|Ce�LFE?@L�JCe'

<?B?Q� FEBLEJF� KFm� ELCOGEOJg� ?KCe� TCJ}JF� NLBL�eEJDEpKBeQe�NmKmBFLF�\'

<� MI?@e� o?U� FmKTCLWJRJD\g� OjB�A?@Lp� W?E'� PLN?B?|GMIpOeRG@GECJO�6B?Fp� DEB'� 4?FLp� B?S'� 4JCmSp� DEB'� XJDEBJSp� DEB'=eHLp�CGFmK?@JS�NLBL�eEJDEp�OeRG@GECJO�2LFR?p�B?S'�PLRmTCJSpW?E'� 2mKO?FLp� RmOLB�aeFLBp� DLCmELBjNLBL�eEJDEp� TF+\TO?FJS=JHLDIp� DEB'� 6?FLRIp� S?Q?� oBLE� MJFmRICJSp�}?� EG|� TLQJCeFpOeRG@GECJO� >@GCCJS� EL� KBeQ� 4EGN?FL'� PLDRe|JRLDI� DF?fUB?TFmKO?U�m�KBeQ�bLR\�*�0GE\CL'�0L�MG�FDG�|�KLRGO?�CG�N?FCJSDNJD?O'

���

P�OeRG@GECJO?@�>@GCCJ@�oeRL�ELOL� mDE?Bm\'�2mDR\�TLDmKOJCL�o?�FOe�F�DGRm�7?TE?OJ�@J�NGBGCGDRJ�S?Q?�K?�/m}LFJ�b?Bm�CI?�'2mK� WLD� o?U� F�/m}LFm� S?Q?p�}G�CG� FJRmOeFLC?Q?p� TLRJ�JRJ� FNGB�mS�HLEm�CL�OBLU�DGRL'�6?RJ�EL�HLEL�TLQ?BmRLDIp�FmCp�FL|O?BLCGCJS� m� HF?BJSp� FJN?FT� K?� DE?K?RJ'� X?RI�GFJOJ� F|G� oeRJ@m|�HLEL@J'�<mC� TL@LDOeFLFD\�F� DmCmp� RLT\WJ�BLWOJ'�<DELEJ�CG@mQp� o?� @LF� NGBGoJEJS� HBGoGE'� X?RI�GFJOJ� B?oJRJ� NGBG�eODE?K?RJp� H?KJRJ� N?� CI?@ep� L� N?Em@� OJCeRJ� �BLCLEep� FmK� \O?�TLNLRJRLD\�D?R?@L'�<mC�BeOL@J�N?QLDJF�F?Q?CI'�X?RI�GFJOJ�TC?FeN?FGBCeRJDI� m� NmKNLRJRJ� TLNLRICJWO?U'� 8RG� EmRIOJ� F?CJFmKmS�RJp� FmC� TC?Fe� N?QLDJF� F?Q?CI� m� FB\EeFLF� DGoG'� _?FO?RLTQ?BmRJ�FDm�HLEJ�S�DE?K?RJp�m�EmRIOJ�S?Q?�?KCL�TLRJ�JRJD\'�2mDR\o?U�CL�EBGEmS�KGCI�S?Q?�RUKJ�FmKCLS�RJ�S�FJRmOeFLRJ'

2?E?@e�>@GCCJS�RmOeFLFD\�F�DGRm�/\HLFm�FBLT�Tm�@C?U'�2mTCm�GoeF�B?S?FJ@p�L�TQ?K?@�W?E?FJ@�e�D?ECm�OjBL�bB?@GCOL'�PLQJCeFCL�/G@OmF}JCm�NmK�WLD�NB?BJFe�D?ECm�F�WGBFCm�qkZn�B?Oe'

2mDR\�B?Oe�@J�NGBGCGDRJ�EmR?�OjBL�A?@J�CL�ORLK?FJ}G�FDGRm�/m@CmSp�KG�S�FJDJNLRJ�S?@e�@?QJRe'�2mK�RmD?@�*�CL�N?RmKF?fp�L�CL�Q?BoOe�?KJC�*�DN?WJFLUEI�CGFmK?@m�DEBmRIMmjQGB?�'<�Q?Bm�CI?@e�OmCMm�DGRL�/m}LFJ�CGKLRGO?�KeoLp�NmK�\OJ@�EB?fW?E?FJH�eORLKLRJ�NR\C�o?Up�DN?WJFLUEI�e�DNmRICmS�@?QJRm�mC�mF?\OJp�}?�FNLRJ�F�MI?@e�FGRJO?@e�o?U'

q.n

4I?Q?KCm� ?KCL� WLDEJCL� CLDGRGCC\� MI?Q?� DGRL� B?TOJCGCLN?� MmRmS� 5OBL�Cmp� KBeQL� WLDEJCL� FJFGTGCL� CL� N?RIDIOm� �Tf@f?KTJDOLCG�p�L�DL@G�DGR?�DNLRGCG'�4E?�EI�EmRIOJ�DELBGTCJS�Keop}?�T�FmEBL@J�B?T@?FR\f�NB?�FGRJOJS�/m}LFDIOJS�omS'��GS�omS*�?KJC�T�CLSomRI�JHp�}?��H�TFGRL�528�CL�eOBL�CDIOJH�TG@R\HT� @?DO?FDIO?jo?RI�GFJMIOJ@J� TLSKL@J'� 2B?� CI?Q?� }GCLS@GC�G�TQLKLC?p�NB?�CI?Q?�@LS|G�CG�TCLUEI'�PLNJDeU�FDGp}?� ToGBGQR?DI� F� @?�S� NL@+\EJ� NmDR\� N+\EJ� B?OmF� o?B?EIoJ� FRLFLH�528'

1N?FmKLRJ�?WGFJKMmp�}?�F�2GBG@J�Rm�S�_?oB?@JRm�NmK�WLDo?U� oeRL� FGRJOL� EBJF?QLp� QeKmRJ� QeKOJp� F� ?o?H� @mDELH� m�RJQ?EeFLCC\� K?� ?o?B?CJp� oeRL� NLCmOLg� o?RI�GFJOJp� FmSDIO?Fm� SMJFmRICmp� omQLRJ� N?� @mDEm� \O� ?NLBGCmp� ?EBJ@eUWJ� N?� BLKm?� To?S?F?�� RmCm�� FmDEOep� }?p� @?FR\Fp� CLKH?K\EI� FGRJOm� DJRJN?FDELCMmF'

�]^%�$�� �� UTU$�$

7LC?O�.[�|?FEC\'�P�NmRIp�KG�O?NLRJ�OLBE?NRUp�om|LEI�|mCOJT� EBJF?|CJ@J� FmDEOL@Jg� T� eDmH� DE?BmC� CLDEeNLUEI� CL� DGR?o?RI�GFJOJ'� <?CJ� ?E?WJRJ� S?Q?�}G� FC?Wm'�1KCm� TLRJ�JRJDICL� N?R\H� \O� TLDELFJ� T� OeRG@GEL@Jp� L� mC�m� eFmS�RJ� F� DGR?� S�eOLUEI�TL�BLCGCJ@J�N?FDELCM\@J'�<DUKJ�NJELUEIg

*� PKfDI� fDEI� oLCKmE� K?OE?BjNLBL�eEJDE�ABmCp��E?� oJRBLCfC�CL�b'�/'�

_mFWLELp�}?�oeRJ�omR\�@GCGp�FmKmS�RJ�QGEI'�2?OJCeF�HLEeELO?|� DELBJOjOLRmOL'� A?EmRL� TLRJ�JEJD\� 4?~m\p� EL� \� CGN?Q?KJFD\'�PLRJ�JFD\�DL@'�_?FO?RL�oBeKCm�DEmCJp�CLNmFB?TFLjRGCL�NmWp�TLOeBGCL�KJ@?@'�4EGR\�MmRO?@�W?BCLp�CGomRGCL�F|GFmK� KGD\EOL� B?OmF'�:L� NBmWm� DELB?Q?� omKLOJ� OeNOL� D?R?@J� ELN?KGBEJS� @m�?Op� \OJ@� FmC� FOBJFLFD\'�:L� RLFm� CLKoJEm� DELBmQRJC\Cm�Q?B�OJp�m�MG�FDG'�=?f�Rm|O?�T�WJDE?U�N?DEmRRU�N?@mEC?FmKBmTC\fEID\�FmK�E?Q?�FDI?Q?'�AE?�eFmSKGp�FmKBLTe�K?QLKLfEID\pF�W?@e�BmW'�=LDOeFLEJ�Rm|OL�F|G�CG�oeR?�WLDe'

<�DGRm�WeEJ�N?DEBmRJp�NGBGORJOeFLCC\p�OBJOJ'�X?RI�GFJOJ�eOLUEI� TL� BLCGCJ@J'�2GBGFGBELUEI� DC?NJp� F� DmCm��eOLUEIDH?FJ}p�TBJFLUEI�K?RmFOJp�NGBGO?NeUEI�Q?B?KJp�NGBG�eOeUEIN?EmWOJp�oeB+\CJp�Oe}m'�<DUKJ�NJELUEI�TL��K?OE?B?@p�oLCKmE?@NLBL�eEJDE?@�ABmC?@�'� 4mC?p� DC?NJp� K?RmFOe� NGBGDEBmRUUEI

q.w

WLD?@�WGBQL@J�T�22a'�_?NJEeUEI�RUKGSp�CLSomRI�G�*�@LRJHKmEGS'� 0L� CLDGRGCC\� EBJ@LR?DI� K?oBGg� F?C?� CG� FJKLR?� DF?�H?o?B?CMmFp�H?W�e�DGRm�oeR?�CLD�omRI�G�N?�OBJ�FOLH'�1D?oRJF?|�NB?�@?U�NBJDeECmDEI�TCLR?�FDG�DGR?'�6?RJ�@GCG�FGTRJ�CLF?Tmp�RUKJ�FJomQLRJ�S�NRLOLRJ'

PKLFLR?DI� @GCmp�}?� \� TLRJ�GCJS� EmRIOJ� CL� X?|e� RLDOepCmO?@e�CG�N?EBmoCJS�m�oGTo?B?CCJS'�deU�F|G�Q?R?DJ�omR\�@?f�HLEJp� CL� K?B?Tm� S� F� Q?B?Km'� >KeEI'''� PL� HFJRJCe� oeKe� F� �HCmHBeOLH'

0L� \� N?@JRJFD\'� <mKFL|Cm� KmFWLEL� FBLT� mT� N?FDELCMG@4?~mfU� NGBGHJEBJRJ� o?RI�GFJOmF'� 4?~m\p� NGBGoBLCL� TLDGR\CDIOe� KmFWJCep� BLT?@� T� KmFWLEL@J� bLCCeDGUp�=LBeDGU�S:LDEeCGU�FJS�RJ�NGBGK�@?U�HLEep�CmoJE?�O?NLEJ�OLBE?NRUp�mEeEp�TeDEBmF�JDI�mT�o?RI�GFJOL@Jp�N?WLRJ�T�CJ@J�|LBEeFLEJg

*�0?FLBJ�mp�H?KmEI�K?�CLD�N?@LQLEJ�O?NLEJ�OLBE?NRU�X?RI�GFJOJ� FmKN?FmRJp�}?� SKeEI� �mDOLEI� oLCKmE?F�p� LRG

NmKmS�RJ� K?� CJH� oRJ|WG� S� DELRJ� |LBEeFLEJ'� _mFWLELTLNB?�eUEI� �H� e� K?FQe� HLEe� CL� Q?DEJCet� O?RJ� o?RI�GFJOJN?WeRJp�}?�KmDELCeEI�F?KOJp�Nm�RJ�EeKJ'�1KJC�RJ�G�NB?oeFLFTLQR\CeEJ�K?�HLEJp�KG�\�RG|LF'�0?Km�bLCCeD\�DOLTLRL�S?@eg

*�>KmEIp�mKmEIp�EL@�CLoGBGEGD\�EJ~e'X?RI�GFJO� NBJDELCeFp� TLFLQLFD\� S� Nm�?F� TL� DF?�@J

E?FLBJ�L@J� CL� Q?DEJCe'� 0L@� WLDEeFLRJ� �H� Q?BmRO?U� ELFLBGCJOL@J'

_Fm� KmFWJCJ� KLRm� O?NLUEI� OLBE?NRU� NGBGK� @?fU� HLE?U':LKmS�?F�\OJSDI�o?RI�GFJOp�TLQR\CeF�e�@?f�TLO?NWGCG�KJ@?@FmO?CMG'�1DIj?DI�m�N?@mEJEI�@GCG'''�<|G�WeU�BmFC?@mBCm�OB?OJ'_BJ|LEI�N?B?HC\Fm�DEmCJ'�0L�FmC�TLQR\CeF�e�DmCJp�OJCeF�NB?ORmCm�FGBCeD\�K?�KmFWLE'�4GBMG�F�@GCG�DEeO?WGp�FmKKJHLEJ�FL|O?'

>KeEI�TC?Fe�KFL�o?RI�GFJOJ'�4?~m\�S�bLCCeD\�|LBEeUEITC?Fe�T�CJ@Jp�o?RI�GFJOJp�N?WeF�J�D@mHJ�F�HLEmp�KG�F|G�oeRLNGB�L�QBeNLp�NJELUEIg

*�8�EL@�WE?�_mFWLEL�FmKN?FmKLUEIp�}?�MG�E?FLBJ�mp�NGBG�eOLF�J�HLEJp

FmKN?WJFLUEI'�X?RI�GFJOJ�NeDEJRJDI�F�CLNB\@m�@?f��HLEJ'*�6eKJ�SKGEGp�EL�E?FLBJ�m�F|G�MU�HLEe�NGBG�eOLRJ��<J

EJ@�oLCKJEL@�ELO�K?oBG�KLRJp�}?�S�DRmKe�N?�CJH�CG�DELR?'4?~m\�OL|G�KLRmg*�bLCCeDUp�SKJp�N?Q?DEJ��H�FLBGCJOL@J�EL�Q?BmRO?U�

q.k

bLCCeD\� NGBGDO?WJRL� � QB\KOe� S� NGB�L� Nm�RL� F� CLNB\@mHLEJp�L�TL�CGU�S�o?RI�GFJOJ'

0LO� @JCeRL� Q?KJCL'� <� DGRm� oRJDCeRL� BLOGEL�*� ?oRLFLTLOmCWGCL'� 0Lp� RG|LWJ�CL� N?DEGRmp� \� FDI?Q?� E?Q?� CG� TCLF'�8|?MG� KmFWLEL� FomQRJ� T� OBJO?@� m� T� D@mH?@� EL� B?TN?FmKLUEI� NB?DF?�� HJEB?}m'��G�@GCm� K?KLR?� DJR'�:L� DGBMm� DELR?� RGQO?p� m� \TLoeF�NB?�DF?��BLCJ'�7LKmFp�}?�F�CLD�ELOm�KmFWLELp�\O�N?FDELCGMI4?~m\p�\O�bLC\p�:LDEeC\p�=LBeD\p��H�oLQLE?�CL�5OBL�Cm'

���

=GCG�CGN?O?�EI�K?R\�@?f��W?EJ'�2B?�e�4?~mUp�}?o�NJDLRLF�@?f@e�|� m@GCm� RJDEL� K?� OjBL�A?@J'�4?~m\� FT\RL� ?RmFGMI� mKJFCJ@J� ?WJ@L� QR\CeRL� CL� @GCG'� _mFWLEL� NGBGOJKLUEID\N?QR\KL@J'��G� \� TLNBJ@mEJF� m� NJELUp� W?@e� F?CJ� KJFeUEID\'2B?�EGp�}?�OjB�A?@L�TLQJCeFp�\�}G�E?Km�CG�TCLF'�_mFWLEL�@GCmCmW?Q?�CG�DOLTLRJp�L�4?~m\�NB?DJRL�KJOEeFLEJ'�_JOEeUg

�2B?�e�TL?NmOeFLEJD\�Zj?U�W?E?U�m�CG�B?TF+\TeFLEJ���p�o?F?CL�DF?fU�N?DELF?U�F�o?\H�K?FGRLp�}?�TLDReQ?Fef�CL�mDCeFLCC\'2B?�e� CG� TLoeFLEJ� TL� @GCG'� `O� EmRIOJ� FJRmOeUD\p� TLBLTTQ?R?�eD\�F�D?ECm'�2BJ�RmEI�N?�T@?Tm�RmOLB\�'

4?~m\� NJDLRLp� m� F� ��� ?WLH� DE?\RJ� DRI?TJ'� PLNJDOe� MUFmKmDRLRL�K?�DGRL�`'��Ke�FmKN?FmKm�DF?Q?�O?@LCKJBL'

_?FmKeUD\p�}?�2LDEGBCLO�NmDRLF� ELO?|�N?�KjBL�aeFLBL'<FGWGBm�NBJH?K\EI�TF+\TO?Fm�T�DGRL�`'�m�NGBGKLUEIp�}?�@GCG�DRmKFmKDELFJEJ�F�EG�DGR?p�m�EL@�RmOLB�=LBEL�L@NeEef�@GCm�BeOJp�o?mC�?��BLKJ�CG@Lf'�2?WeF�J�MU�FmDEOep�DEB'�=eHL�N?WGBF?CmFpDH?NJF�LFE?@LE�m�T�NBJEJDO?@�NB?MmKJFg

*��G�K?FQ?�Cm�0LO?|�DHFJRUFLFD\�@LRJS�B?TFmKCJO�<mEB?Q?C'�4?~m\�EG|

DNB?EJFJRLD\p� OL|eWJg*�<L�m�BeOJ�oeKeEI�FJRmOeFLCmp� m�FJ�}G�oeKGEG�C?DJEJ

ToB?U'4?~m\�K?EBJ@LRL�DF?f��?omM\COJg�CG�FmKH?KJRL�FmK�@GCG�Cm

CL�OB?Op�?NmOeFLRLD\p�\O�DGDEBLp�L�O?RJ�?EBJ@LRL�CLOLT�FmKmSEJT�mC�J@�NBJTCLWGCC\@p��S�CL�T@mCe�NBJS�RL�X?QKLCL'

�I?Q?�NL@+\EC?Q?�FGW?BL�TmoBLR?DI�oLQLE?�@mDMGFJH�KmFWLEmT�DGRL�S�KG\Om�DEBmRIMm�@?f��W?EJ'�2BJH?KJEI�RmOLB�aeFLB'�<mCELO?|� Emf�� Ke@OJ�*� EBGoL� DNB?oeFLEJ� FJRmOeFLEJ� BeOJ'4mRIDIOm�KmFWLEL�K?@?FR\RJD\�NB?�WGBQeFLCC\�omR\�@GCGg�KFm

q��

WGBGT� KGCIp� L� KFm� WGBGT� CmWp� ELO� eFGDI� WLDp� L|� N?OJ� CGFJKe|LU'

<�Om@CLEm�DELR?�Ke�C?'�/mOLB�aeFLB�DOLTLF�eDm@�B?TmSEJDIpTLRJ�JRJD\� 2LDEGBCLO� m� 4?~m\'� <?CJ� B?TN?FmRJ� @GCm� NB?KLRI�JS�HmK�o?U'�0?Km�E?�\�K?FmKLFD\p�}?�@mS�OjB�A?@L�TLQJCeF'=?U� W?Ee� KG@?omRmTeUEIp� \O� m� mC�m� W?EJ� T� ?o?H� D?EGCI'6jB�=e�OL�NGBGKLF�@GCm�NBJTCLWGCC\�TL�EGp�}?�\�FmKTCLWJFD\NBJ�RmOFmKLMm��o?RI�GFJMIOJH�ELCOGE?O'��G�FmC�?EBJ@LF�@?Q?RJDELp�NBJTCLWGC?Q?�OjB?Fm�A?@m'�=?U�ToB?U�TLoBLF�W?E'�>FLDIp}?�FmKmS�?F�e|G�T�W?E'�PLN?B?|MG@� m�S?Q?�FmKKmR?@�CL�DHmK'ZjEL� W?EL� @LRL� CLSomRI�m� FEBLEJp� o?� CL� @mS� FmKEJC?O� m�?FCLSDJRICm�JS� CLDEeN'

�m�FmDEOJ�ELO�FBLTJRJ�@GCGp�}?�\�}G�Ke|WG�?DRLo�m�FEBLEJFNBJE?@CmDEI'� /mOLB�aeFLB� TB?oJF� @GCm� TL�EBJOLp� m� FDmB?TmS�RJD\'

:mW'� XmR\� N?DEGRm� DJKmRL�4?~m\� EL� KF?f� DmRIDIOJH� KmFWLE'PCGBeH?@RGCm� BeOJ� o?RmRJ� ELOp� }?� Q?Km� oeR?� FJEBJ@LEJ'2?BLCGC?��H�TLNLRIC?Up�~?D~?B?F?U�L@eCmMmfU'�<mK�EJH�OeRI@LS|G�FDm�N?BLCGCm�F@JBLRJ'

���

<DmH�F?\OmF�Tm�D?ECm�OjBL�A?@J�S�OjBL�d?BC?Q?p�}?�N?H?KJRJT�/G@OmF}JCJ�S�2GBG@J}JCJp�TKG@?omRmT?FLC?'�_G@?omRmTLMmUNB?F?K|GC?�F�RmDm�CLK�DGR?@�0'��\�KG@?omRmTLMm\p�\O�\�WeF�e|G?NmDR\p�FJORJOLRL�e�DEBmRIMmF�m�NmKDELB�JC�FGRJOJS�CGD@LOp��@FL|O?�oeR?�TB?Te@mEJ�K?MmRICmDEI�ELO?Q?�B?TN?B\K|GCC\'�XLQLE?DEBmRIMmF�CG�H?EmRJ�SEJ�K?K?@e�EL�DORLKLEJ�ToB?U'�0J@�WLD?@K?F?KJR?DI�FmKKLFLEJ�K?�@L�LTJCe�ToB?Up�TK?oeEe�FmK�F?B?QLpKoLSRJF?� H?FLCe� S� NRGOLCe'� AR?NMm� T� @?f�� W?EJ� T� NRLWG@N?FGBCeRJD\�K?�DGRLp�L�KmTCLF�JDIp�KG�\�RG|ep�QeBE?@�NBJS�RJFmKFmKLEJ�@GCG�EL�N?|LRmEJDI'�=GCm�oeR?�NBJOB?�FmK�E?Q?p�}?DFmK?@JH�m�FmKKLCJH�DNBLFm�RUKGSp�\Om�K?oB?FmRIC?�TQ?R?DJRJD\mT� ToB?fU�K?�528p�FmKNeDOLRJ� Q?RmBeW�K?K?@e'�_G\Om� HJEBm�mTLH?FLRJ�N?ELf@C?�DFmS�OeRG@GE�=�jZ.�m�KGOmRIOL�Be�CJMI'

<�E?S�WLD�KG@?omRmT?FLC?�@LS|G�����RUKGS'�_G@?omRmTLMmUNB?F?KJF�OeB'�2LFeO�m�B?S'�/LDEmFOLp�}?�NmTCm�G�DELF�D?EGCCJ@'2GBGFGKGC?� ��� TL� CLOLT?@� FJ}?Q?� O?@LCKeFLCC\'� 2BJWJCJKG@?omRmTLMm�� DELRJ� @GCm� FmK?@m� TQ?K?@'� 0?Km� TKLR?D\p� }??NGBeFLEJ� omRI�J@J� FmKKmRL@J� F� WLDm� TLOBmNRGCC\� D?FfEDIO?�

q�q

FRLKJ�CGK?MmRIC?'�2?FDELCDIOm�FmKKmRJ�NGBGH?KJRJ�F�C?Fe�~LTeo?B?EIoJp�O?RJ�EBGoL�oeR?�?NGBeFLEJ�@LRJ@J�QBeNL@J'�0?@e�TFmKKmRmF�TLEBJ@eFLC?�NmK�ToB?fU�RJ�G�OLKBJp�}?�F�@mBe�N?EBGoJ@?QRJ�B?TB?DELEJD\�F�N?FCm�FmKKmRJ'

`� Ke@LUp�}?�Bm�GCC\�NB?� KG@?omRmTLMmU�F� E?S�WLD�oeR?N?@JRO?FG'�4RmK� oeR?� B?TN?B?�JEJ� D?ECm� m� K?TF?RJEJ�@LRJ@FmKKmRL@� BGSKeFLEJ� N?� FDI?@e� EGBGCm'� 0LOL� B?TF+\TOL� oeRL� oOBL}?U�S�T�E?Q?�N?QR\Kep�}?�*�\O�NmTCm�G�FJ\FJR?DI�*�FGDI@L�LTJC�ToB?��N?NLF�F�BeOJ�F?B?Q?Fm�S�MmRJS�EGBGC�TLRJ�JFD\oGT�ToB?�'

���

1KC?Q?�BLCOe�FomQLUEI�KmFWLEL�m�B?TN?FmKLUEIp�}?�F�CLNB\@mDGRL�SKeEI� EBJ� D?ECm� N?RIDIO?Q?� FmSDIOL� T� QLB@LEL@J'�<|G� FNGB�JH�HLELH�FJ\FJR?D\p�}?�SKeEI��eOLEJ�BLCGCJH�EL�CJ}JEJN?FDELCDIOJH� �CGK?oJEOmF�'

4ELBJOjOLRmOL� N?OJKLf� HLEep� L� KmFWLEL� oGBeEI� @GCG� CLNB?DEJBLR?� S� FJC?D\EI� CL� Q?BJ}G'�:L� Q?BJ}m� CG@Lf� CmW?Q?'<JDJEI�?oKJ@RGCG�NLFeEJCC\p�L�CL�N?Re�N?FC?�D@mEE\�S�DELB?�N?R?FJ'

=GCG�N?ORLRJ�omR\�NRLEFJp�CLOBJRJ�NB?DEJBLR?@p�?oDJNLRJN?R?F?U'� 0mRIOJ� RJMG� TLRJ�JRJ� FmKOBJEJ@'� 4L@m� TLoBLRJKBLoJCe�S�N?OJCeRJ�HLEe'

<� DGRm� WeU� N?DEBmRJp� OBJOJp� @GEe�CU'�2?R\OJ� NGBG�ejOeUEI�HLEe�TL�HLE?Up�NGBG�eOeUEIp�@?|Gp�S�K?ORLKCm�Gp�Cm|o?RI�GFJOJ'�5DUKJ�NJELUEI� TL� �K?OE?B?@�bBJCI?@�'�dGOLUpO?RJ�N?WeU�OB?OJ�NmK�HLE?U'�4GBMG�RGKFG�o+fEID\'�A?We�NJEJ'A?R?KCG�N?FmEB\�FmKDFm|ef'�:LBLT�WeU�OB?OJ�S�Q?R?DJ�NmK�HLE?U'

*�1p�F�ELOfS�KTU|G�*�E?�oGCKTf��̀ CGOp�K?o|G�N�G�eOLMI�6mRIOL�FH?KJEI�e�HLEe'�aeOLUEIp�L�?KJC�mT�CJH�OL|Gg*�0eELS�M?DI�@eDm�oJMI'�deMI�RfOLBDEFG@'2GBG�eOLRJ� FCJTep� TCLS�RJ� KBLoJCep� RmTeEI� K?Q?BJ'

4FmK?@mDEIp�}?�TLBLT�oeKe�F�BeOLH�F?B?QLp�@GCG�TLCGN?O?�RL'`O?DI� FB\EeFLFD\� FmK� D@GBEm� F� o?Up� }LDRJF?� FJS�?F� To?RI�GFJMIO?��?oRLFJp�L�EeE�N?NLKe�F�BeOJ�?MJ@'

:L� W?R?� FJDEeNLf� H?R?KCJS� NmE'� _BLoJCL� DOBJNJEIp� F|GoLWe�MmFOe�Be�CJMmp�BeOJp�B?QLEmFOe� m�NLMLReFLEG�RJMG'�A?WeOL�R\EJ'� �?DI� KLFJEI� @GCGp� }?DI� Ke�JEIp� CG� @?|eNB?O?FECeEJ�DRJCJp�F�B?Em�MmRO?@�NB?D?HR?'�`�T?@RmF'

q�.

PoeKJF�@GCG�NRLW�KmFWLE'�`�RG|LF�B?TOBJEJS�N?�DGBGKJCmN?Rep� L�omR\�@GCG�KmFWLEL'�<?CJ�NRLOLRJp� L�N?oLWJF�Jp�}?�\B?TOBJF�?Wmp�BLKmDC?�TLOBJWLRJg

*��JFGp�|JFG��*�m�DELRJ�@GCG�MmReFLEJ'PCGDRJ�@GCG� FCJTp� N?ORLRJ� F� N?DEmRI'�4?~m\� B?TN?FmKLfp

}?�F?CJ�@GCG�oeKJRJp�LRG�\�oeF�H?R?KCJSp�DGBMG�F|G�CG�oJR?D\pm�\�CG�KJHLF'�<?CJ�DNGB�e�Ke@LRJp�}?�@GCG�N?R\OJ�K?oJRJp�L?NmDR\p�}?�\�N?@GB'

dJ� N?R\OJ� oLWJRJ� @GCGp� CG� TCLU'� =?|Gp� MGS� F?\OpeFmS�?F�J�T�\DC?Q?�DFmERL�CL�EG@CJS�NmKp�CG�TLNBJ@mEJF�@GCGp@?|Gp�Ke@LFp�}?�\�F|G�CG�|JFep�Lp�@?|Gp�MG�oeRL�WGDCL�RUKJCLp}?�CG�S�RL�BLT?@�T�o?RI�GFJOL@J'

PC?Fe� TmoBLRJDI� DeDmKJp� NBJS�RJ� KmFWLEL'� <FGW?BmFmKFmKeUEI�@GCG�@?��DEBmRIMmg�6LBJSp�8CKBmSp�BLCGCJS�F�O?RmC?>ODp�<mEB?Q?Cp�4?@'�1N?FmKLUEI�@GCmp�}?�F�o?U�NB?NLF�oGTFmDEJ@mS�NGB�JS�B?S'�XLRIOLp�}?�?KC?Q?�CL�?Q?�DEBmRIM\�NmS@LRLWGBF?CL�N?RIDIOL�o?�FOL�T�DGRL�6'�S�NGBGKLRL�o?RI�GFJOL@p�}?@LEJ�DEB'�=JHLD\�T�6'�To?|GF?RmRL�CL�FmDEOep�}?����DJC�TLQJCeFe�o?U'�PL�=JHLDG@�De@ef�MmRG�DGR?p�o?�FmC�oeF�S?Q?�mKGSCJ@?BQLCmTLE?B?@'

R$`�[[�� U$

4GR?�/'�*�@J�S?Q?�CLTFLRJ��2mDC\��*�N?RUoJR?�@GCG�mFFL|LR?�TL�DF?Q?'�_?�E?Q?�|�@?��DEBmRIMm�B?TCGDRJ�N?�?O?RJMmK?oBe�DRLFe�NB?�@GCGp�NGBGN?FmKLUWJ�NGBGomRI�GC?�NB?�@?UB?RU�F�o?U'

_mFWLELp�|mCOJp�HR?NMm�N?DEmSC?�@GCG�FmKFmKeUEI'�̀ ��@�WJELUFQ?R?Dp� N?\DCUUp� ?N?FmKLU'�:GBLT� CLFGTeEI� FLBGCJH� OeBGSpB?D?RmFp�OB?R\WJH�NGWGCIp�@LDRLp�DJBLp�@GKep�?F?WmFp�}?�S�CG@LKG�KmEJ'�2?FDELCMmp�NGBGH?K\WJp�CG�RJ�G�HLBWeFLRJD\�F�@GCGpLRG�KmDELFLRJ�HLBWmF�}G�S�CL�K?B?Qe'�:LDGRGCC\�FFL|LR?�DF?�@?o?F+\TO?@p� m� E?� O?|CJS� T?OBG@Lp�}?DI� KR\� @GCG� NBJCGDEJ'>KeWJ�K?�@mDELp�OeNeUEI�TLRmTCG�FJC?p�MJQLBOJp�oLCKL|mp�QLTGEJpKGHE?� CLFmEI��?O?R\Kp� MeOGBOJp� FmEL@mCJp� oL� S� MJEBJCJ� ELFJC?QBLK'

6?RJ� KJOEeU� Mm� DR?FLp� @?�� KBeTm� K?FO?RL� D@mUEID\p� L@L�JCmDEOL� OL|Gg

*�:?p�FL@�D\�oJR?��LCeFLEJ'''

q��

>�DNBLFKmp�M\�DGBKGWCL�?NmOL�oeRL�NBJf@CLp�CG�TFL|LUWJCL�EGp�}?�\�F�Ke@OLH�eFL|LF�DGoG�F|G�K?D@GBECJ@�mCFLRmK?@'4GR?� DE?\R?� CL� E?@ep� }?� CG� FJNeDEJEI� @GCGp� K?OJ� CGFJRmOeUDI'� 2?DELC?FJRJ� oGBGQEJ� @GCG� NGBGK� F?B?Q?@� mFJRmOeFLEJ'��mCOJp�NBLMUUWJ�CL�N?Rmp�\O�EmRIOJ�KG�N?oLWJRJF?B?QL�*�N?R\OmFp�Lo?�o?RI�GFJOmFp�}?p�TFJWLSC?p�DOBJE?NmKDeFLRJDI� K?� DGRLp� FmKBLTe� omQRJ� N?FmK?@JEJ� NGB�eCLSoRJ|We�HLEe'�<mDEOe�NB?� EGp�}?�SKG� F?B?Qp� N?KLFLRJ� THLEJ�K?�HLEJp�NGBGORJOeUWJDIt�WLDE?�KmEJ�omQRJ�T�FmDEO?UpWJ� WLD?@� HE?DI� mT� HR?NMmF� DmKLF� CL� O?C\� S� KLFLF� TCLEJ� FDGRm'�0LO?|�Q?DN?KLBmp�}?�NBLMUFLRJ�F�RmDmp�TLNBJ@mEJF�JCGoGTNGOep�RJ�LRJ�FmT�m�CL�O?C\H�@WLRJ�F�DGR?p�}?o�N?KLEJTCLO'�2LDEe�OJp�}?�F�N?Rm�NLDRJ�HeK?oep�N?DEmSC?�T?BJRJRmDJ�S�N?R\� mp� N?oLWJF�J�F?B?QLp� omQRJ� F� DGR?� Lo?� KLFLRJTCLEJ� e@?FRGCJ@� DFJDE?@'� <?CJ� |� B?TFmKeFLRJ� S� @m|NLDEe�OL@J�DeDmKCmH�DmRp�WJ�CG@Lf�F�CJH�F?B?|?Q?�FmSDIOL'dLD?@�|mCOJp�KmFWLEL�WJ�KmEJ�S�RJ�Te@JDCG�K?�RmDep�CmoJE?CL�QBJoJ�Lo?�N?�KB?FLp�CL�EGp�}?o�NB?FmKLEJp�WJ�CG@Lf�EL@F?B?QL'

_mFWLEL�H?K\EI�CL�B?TFmKOe�K?�DeDmKCmH�DmR'�_?�@mDEGWOL�X'�@�TLH?KJEJ�CGoGTNGWC?p�o?�EL@�@?R?KJH�HR?NMmF�m�KmFWLEp�}?NBJH?KJRJ�T�DmRp�FoJFLRJ�e�NmKFLRLH'�0eKJ�@?QRJ�SEJ�HmoL�DELB�mW?R?FmOJ� Lo?� |mCOJp� CL� \OJH� CG� NLKLRL� NmK?TBLp� }?� F?CJNBJS�RJ�CL�B?TFmKOe'

4GR?�oeR?�ELO�?BQLCmT?FLCGp�ELO�TLoGTNGWeFLR?�DGoG�S�FGR?B?TFmKOep�*�?WGFJKC?p�FDG�EG�NmK�OGBmFCJMEF?@�NmKNmRR\p�*�}?F?B?|J@� WLDEJCL@� FL|O?� oeR?� CGN?@mEC?� NmKDeCeEJD\� WJCLDO?WJEJ�CL�DGRLp�KG�DOeNWeFLRJDI�CL�m�NmKNmRICm�DJRJ'

7?TFmKeFLCC\�@J�}?BLT�omRI�G�N?�JBUFLRJ'�_R\�OBL}?�NGFC?DEmp�WJ�F�2'�CG�ToJBLUEID\�\OmDI�F?B?|m�DJRJp�FJDJRLf@?EeKJ�|mC?O�m�KmFWLE'�0L@�TCLH?KJRJ�F?CJ�BmTCJH�TCLS?@JH�ELCLFmEI�FmK�DL@JH�N?R\OmF�K?FmKeFLRJD\�KG}?'

�?o� CLD� KGT?BmfCEeFLEJ� WJ� E?� @?BLRIC?� NBJQCmEJEJpo?RI�GFJOJ�NeDOLRJ�N?@m|�N?RIDIOG�@mDIOG��e@?FJCC\�FDmR\OmFmDEOJ'� 0m� FmDEOJ� K?H?KJRJ� TQ?K?@� m� K?� CLD'� 1KCLWG� CL�GCLDGRGCC\�oeR?�N?RmEJWC?�CLDEmRIOG�FJB?oRGCGp�}?�O?|Ce�ELOeFmDEOe�DNBJS@LR?�OBJEJWC?p�B?ToJBLUWJ�K?ORLKC?p�F�}?�F�CmSNBLFKLp� L�}?� Cm'� dLD?@� EGBGC?Fm� NB?NL�LCKJDEJ� CL� To?BLHmC~?B@eFLRJ�NB?�ELOe�B?TORLK?Fe�B?o?Ee�F?B?QL'

q�Z

���

:L�CL�m�DGRL�EG|�SKeEI�o?RI�GFJMIOm�EL�WGBF?Cm�N?RIDIOmB?TFmKCJOJ'� 9HCf� TLFKLCC\�*� B?TFmKLEJ� NB?� DJRJ� CL�?Q?NmKNmRR\p�NB?�CL�m�?DGBGKOJp�NB?�RmCm��TF+\TOe�E?}?'�dLDE?�ELOmB?TFmKCJOJ� oeRJ� }G� S� L�mELE?BL@Jp� TLFKLCC\@� \OJH� oeR?�JBJEJ� EBJF?|Cm� FmDEOJp� NGBGO?CeFLEJp�}?� CL�L� o?B?EIoLoGTMmRICLp�o?�FmSCL�F|G�DOmCWGCL'�_LRm�F?CJ�DELBLRJD\�N?Dm\EJDGBGK� CLDGRGCC\� CGK?FmB+\� DeNB?EJ� NmKNmRR\'� 0L� Mm� �N?o?|CmoL|LCC\�� TLRJ�JRJD\� EmRIOJ� oL|LCC\@J'� :L�G� CLDGRGCC\DNmFNBLMUFLR?�T�CL@J�S�K?N?@?QLR?�FJTF?RICmS�o?B?EIom�KLRmCGN?DRLoC?'

<?B?|m�B?TFmKCJOJ�FJDEeNLRJ�}G�m�\O�FEmOLWm�T�~B?CEe�WJE?�N?F?B?EMm�T�B?omE�e�:m@GWWJCm'�9H�NGBG�O?RUFLR?�:6<_�F6BLO?Fmp�2GBG@J�Rm� WJ�7\�GFm'�2?� DGRLH� H?KJRJ� W?R?FmOJ�S|mCOJp�}?�CmoJE?��eOLRJ�DF?�H�O?CGSp�\OJH�oeR?�TLoBLC?�CL~B?CEp� OeNeFLRJ� DmC?p� DLK?FJCep� Tom||\p� OLBE?NRU� E?}?'2?RIOJ� NGBGH?KJRJ� eOBL�CDIOJ@J� DGRL@Jp� C?WeFLRJ� F� CJHpCmoJE?�FGBELUWJ�K?K?@e�T�@mDEL'�=mDMGFm�|�N?R\OJ�TL�CL@?F?U�@mRmMm�� ?oJFLEGRIDIO?��p�}?� DELRL� L�GCEeB?U�:6<_p��eOLRJTF+\TOmF� mT� DF?�@J� BmKCJ@Jp� }?o� B?TFmKLEJ� NB?� EGp� }?� �@CLOLTLC?'�dGBF?CL�LK@mCmDEBLMm\�CLTCLWeFLRL�QLS?FJHp�D?REJDmFpDGOBGELBmFp� RJDE?C?�mFp� }?� ELO?|� FJO?CeFLRJ� L�GCEeBCeB?o?Ee'

2mK� NmKOBJEE\@� o?B?EIoJ� T� N?�GDE\@J� CL� DGRL� SKeEIDLCmELBJp� NB?F?K\EI�}GNRGCC\p� KGTJC~GOMm�� E?}?'� <DG� F?C?EmRIOJ�CL�EGp�}?o�FGDEJ�B?TFmKOe�F�EGBGCmp�CLF+\TeFLEJ�TF+\TOJpCLRLKCeFLEJ�@GBG|e�DGOD?EmF'

dLD?@�N?RmMmSCm�DELCJMm�R?FR\EI�CL�JH�|mC?Op�}?�SKeEIK?� @mDELp� FGKeEI� T� CJ@J� oLRLWOJp� NB?F?K\EI� DRmKDEF?pEGB?BJTeUEI�m�NBJ@e�eUEI��H�K?�DNmFNBLMm'�6?RJ�@J�NB?�MGB?TFmKLRJp�TLo?B?C\f@?�@LR?DFmK?@J@�Lo?�CGNGFCJ@�H?KJEJK?�@mDEL'�_?TF?R\f@?�SEJ�EeKJ�EmRIOJ�BLT?@�e�omRI�?@e�QeBEmpF� \O?@e� oeRJ� K?FmBGCm� S� NGFCm� RUKJ'� 6?RJ� HE?DI� T� ELO?�QBeNJ�FmKKLRJFD\p�E?�@J�F|G�oeRJ�CL�DRmKLH�S?Q?�DNmFNBLMm�TF?B?Q?@'

0BGoL�CLTLQLR�DEFGBKJEJp�}?�F�N?WLEOLH�Cm�o?RI�GFJOJp�CmN?R\OJ� CG� @LRJ� eDNmHmF� e� B?TFmKeFLCCm'� 8|� NmTCm�G� F?B?QFK?DO?CLRJF�DF?��TLD?oJ�o?B?EIoJ'

q�[

���

7LCJ�@?��oeRJ�ELOm�FGRJOmp�}?�OBmTI�CJH�CL�BeOLH�@?|CLoeR?� NB?NHLEJ� ?RmFGMI'� 0L� @LF� \� DJRICJS� FJDN?BE?FLCJS?BQLCmT@p�m�F?CJ�N?@LRe�Q?�RJD\'�<DG�|�BeOJ�oeRJ�@LS|G�@GBEFm'<�NBLFmS�BeMm�MmRO?FJE?�oeRL�NGBGoJEL�o+UWOLp�S�BeOL�FDJHLRLpCG�@LUWJ�K?NRJFe�OB?FJ'�X?R\EI�BeOJp�CJUEI�O?DEmp�CG�@?|eD?om�TCLSEJ�@mDM\'�6eKJDI�m�?F�oJp�OBJWLF�oJ'''

4?~m\�*� TBLTO?FJS� ?NmOeC'� <?CL� EGBNGRJF?� NGBGC?DJEIFD\Om� K?O?BJ� S� NBJ@HJ� FBLTRJF?Q?� S� CGBF?F?Q?� HF?B?Q?'�?KGCC?�FBLCMmp�F�N?ReKCG�m�FFGW?Bm�KFm�Q?KJCJ�CLEJBLf�@GCmBeOJ� DNJBE?@p�}?o� �H� ?|JFJEJ'��G� N?@LQLf'�:G� o?R\EI� ELOCGBFJ�S�|JRJp�EmR?�CLoJBLf�OB?FJp�N?WJCLU�F?Be�JEJ�NLRIM\@J'

P�DGRL�`'�FmK�EL@?�CI?Q?�DF\}GCJOL�NBJH?KJEI�CGFmK?@L@GCm�NLCm�S�WLDE?�NBJC?DJEI�RmOJ�EL�\OmDI�MeOGBOJp�}?�@LUEIFmK|JFCe� FLBEmDEI� EL� N?@LQLUEI� NB?EJ� CGBF?F?Q?� OL�RU'� PNBJH?KDEFL�F�DGRm�/'�NBJC?D\EI�\BJC?Fm�U�OJ'�=?f�RmOeFLCC\NB?H?KJR?� \OBLT� F� K?DJEI� DN?OmSCJS� WLD'� <?B?Q� CLNLKLf� CLDeDmKCm�DGRLp�K?�CLD�CG�TLH?KJEI'�5@?FJ�K?oBmp�ELOJH�CLNGFC?CG�@LF�F�E?@e�WLDm�|?KGC�BLCGCJS�F?\O�528'

2mDR\� EJ|C\� @GCG� NGBGCGDRJ� FmK� DELBJOL� K?� \OJH?DIFFmWRJFJH� Q?DN?KLBmFp� }?� F� DmCm� TB?oJRJ� @GCm� DH?FJ}G� CLFJNLK?O�F?B?|?Q?�CLNLKe'�9HC\�K?WOL�:LDEeC\p�ELp�}?�O?NLRLNmK�DELB?U�HLE?U�OLBE?NRUp�FGDI�WLD�FGKG�B?TFmKOep�WJ�CG@LfoRJTIO?�CGoGTNGOJ'��G�mC�L�KmFWJCLp�=LBeD\p�}?�NBLMUFLRL�F@?R?WLBCm�F�_'p�WLDE?�NBJC?DJEI�@GCm�D@GELCep��FGSMLBDIOJSDJBp�@LDR?'

2?WJCLU�F|G�H?KJEJ�N?�HLEm'�:G�@LU�}?�B?oJEJp�CG�@?|eCm�WJELEJp�Cm�NJDLEJ� mp�}?o�CG�WeEJ�o?RUp�*�|LBEeU'�6RLKe>@GCC?Q?p�}?�ELO?|�e|G�DELF�H?KJEJ�CL�NLRJM\Hp�CL�DF?f�Rm|O?pOL|e� CLOBJEJ� omRJ@� NB?DEJBLKR?@� m� FJQ?R?�eU� N?H?B?CCeNB?@?Fe'�:LD�?oDEeNLUEI�HR?NMmp�KmFWLELp�Q?DN?KLBm'�`�Q?F?BUp\O�FmC�DRLFC?�oJFD\p�\O�TLHJ}LF�BmKCm�DGRLp�L�EGNGB�TLQJCeF�FmKo?RI�GFJMIO?�� OeRm'� 4ReHLWmp� NGBGSC\Em� @?fU� NB?@?F?UpN?WJCLUEI�NRLOLEJ'�0?Km�\�N?WJCLU�F�S?Q?�m@GCm�NB?}LEJD\�TBmKCGUp�Q?DN?KLB\@Jp�TCLS?@J@Jp�L�O?RJ�F|G�FDm�K?oBG�Q?R?D\EIpQeOLUg

*� >@GCCJSp� FDELCI�<mC�TBJFLfEID\�CL�BmFCm�C?QJp�m�FDmp�HE?�NRLOLFp�N?WJCLUEI

D@m\EJD\'

q�Y

dLD?@�NGBGoJBLf@?D\�TL�F?fCCJH�mCFLRmKmF�m�DNmFLf@?p�\OO?RJDI�N?RIDIOm�DEeKGCEJ�CL�FeRJM\Hp�BmTCJH�NmDGCI'�8�N?Em@>@GCCJS� T� �LNO?U� F� BeOLH� mKG� ToJBLEJ� CL� mCFLRmKmF'� 0LOB?TFL|Lf@?�m�DGoGp�S�mC�JH'�_GDI�NmDR\�EBI?H�EJ|CmF�\�F|G�@mQFJSEJ�CL�N?KFmB+\p�}?o�NBJFmELEJ�RJDE?NLK?Fe�?DmCI'

���

:LBLT�TWJCJRLD\�EBJF?QL'�0BGoL�CGQLSC?�N?OJKLEJ�DGR?po?p�@?|Gp�F|G�F?B?Q�m�TCLfp�}?�\�EeE�RmOeUD\'�_mFWLEL�om|LEIK?�RmDep�TL�CJ@J�DOLWG�CL�NLRJM\H�>@GCCJSp�L�\�OB?O�e�OB?OF?R?WeD\�TL�CJ@J'�_BJ|LEI�O?RmCL'�deEJ�N?DEBmRJ'�PLH?KJ@?F�RmD�m�N?@LRe�ToRJ|Lf@?D\�K?�BmWOJ'�<?KL�@LS|G�F�N?\Dp�\CG� Te@mU� NGBGSEJ'� _mFWLEL� FT\RJ� T� D?o?U� NJRep� TBmTLRJFmRIHep�TFLRJRJ�WGBGT�BmWOe�m�N?�ELOmS�ORLKMm�NGBGS�RJ�FDm'4?~m\�DOLWG�F�F?Kep�NGBGNB?FLK|ef�@GCGp�m�FDm�NB\@ef@?�K?DGRL�`'�0eE�NGBGC?WeFLRJ�S�CL�KBeQJS�KGCI�N?FGBELf@?D\�K?DGRL�/'

6?RJ�\�F|G�@mQ�FJH?KJEJp�O?|GC�TLNB?�ef�@GCG�K?�DGoG'<�CGKmRU�KFGBm�F�HLEm�CG�TLWJC\UEID\'�<Dm�*�DELBm�S�@?R?KmpW?R?FmOJ�m�|mCOJ�*�FmKFmKeUEI�@GCGp�BLKmUWJp�}?�\�TK?B?FJS'dLD?@� mKe� K?� DGRL� 6'� N?Em�LEJ� CLNmFo?|GFmRICe� @LEmB� @?Q?DEBmRIM\�=JHLD\'�6L|e��Sp�}?�FmC�DO?B?�FGBCGEID\p�T�Ke@O?Up}?p� @?|Gp� H?W� MG� �S� K?N?@?|G� F� ��� Q?Bm'�=mDMGFL� eWJEGRIOLNGBGoLCKL|?Fef�@GCm�BLCJp�CLEJBLf�BeOJp�?N?FmKLf�C?FJCOJ�mTDFmEep�NB?�CLDEB?��@m|�N?R\OL@J'

4?~m\�TLK?F?RGCLp�}?����NBLM\�CG�Nm�RL�CL@LBC?�EL�}?���EBeKJ�KLRJ�oL|LCJS�CLDRmK?O'�`�oeKe��S�FK\WCJS�CL�FDG�|JEE\m�TQLKeFLEJ@e�TLF|KJ�ELOp�\O�TQLKeUp�}?�TLFK\OJ�4EGN?FmS�\}G�|JFJS'

:GTLoLB?@�NBJS�?F�CLOLTp�}?o� F?CL� FmKmS�RL� F� qjJSBLS?Cp�L�@C?Up�>@GCCJ@�m�0LBLD?@p�O?RJ�Cm@�N?RmEFJH?FCJO?@F� D?ECm� OjBL� XmBLp� TL?NmOeFLRLDI� CLKBLS?C?FL�~LB@LMGFEOLPGCLjX?QKLCL'� <?CL� TL?NmOeFLRLDI� CL@Jp� \O� BmKCL� @LEJ'0GBNGRJFLp� NBLMI?FJELp� N?DRmK?FCL� F� NBLMmp� B?Te@CL� SFmKFL|CL'

`� FK\WCJS� m� CL�J@� Q?DN?KLB\@'� <?CJ� FQ?}LRJ� CLD� WJ@@?QRJp�H?W�WGBGT�CLD�CLBL|LRJ�DGoG�CL�CGoGTNGOe'�6LTLRJg

*��?�FL@p�EG�S�CL@'�<J�CL�m�o?BMmp�@J�SKG@?�T�FL@J'

q�n

���

P�OmCMG@�RJDE?NLKL�NB?}Lf@?D\�T�MJ@�Q?DEJCCJ@�DGR?@'PmoBLR?DI�oLQLE?�@?R?Km�S�Q?DN?KLBmFp�}?o�NB?FGDEJ�?DELCCmSKGCI� T� CL@J'� _\OeU� FDm@� TL�|GBEFGCCmDEI� m� ?NmOe'�1omMUUO?RJDI�FmKFmKLEJ'�PLORJOLU�@?R?KI�?BQLCmTeFLEJD\�S�N?@LQLEJN?FDELCM\@p� WJ@�EmRIOJ�T@?|eEI'�7LK|e�DEF?BJEJ� �@�F� DGoGDL@??o?B?Cep�o?�F�CJH�f�KGOmRIOL�F?\OmFp�}?�@?|eEI�N?FGDEJKmR?'

4GR\CJ�NB?D\EI�TLRJ�JEJD\'�1omMUUEI�?NmOeFLEJD\�KLRmpWGBGT�MmRe�TJ@e'�6L|eEIp�}?�F�CL�mS�NBJDeEC?DEm�N?WeFLUEID\oGTNGWCm�Gp�@LUEI�T�OJ@�N?BLKJEJD\�S�N?Q?F?BJEJp�f�FmK�O?Q?K?FmKLEJD\�NB?�CL�G�@JCeRG�EL�N?WeEJ�NB?�N?RmEJWCm�DNBLFJ'

7LT?@� T� 2LDEGBCLO?@� m� _eoGCO?@� mKG@?� F� DGR?� /'� 0eEDGR\CJ�@GCG� TCLUEI� T� �MJFmR\��S� FmELUEI� ELO� DL@?p� \O� m� CL�2mDCm�'�PC?Fe�TmoBLRLD\�@?R?KIp�DELBm�WRGCJ�15:p�}?�T�CJ@J\�NBLMUFLF�e�WLDJ�NGB�?��o?RI�GFJMIO?�p�L�TQ?K?@�m�Cm@GMIO?�?OeNLMmS'�=mDMGFm�KmFWLELp�T?BQLCmT?FLCm�X?QKLC?Up�?NmOeUEID\CL@Jp�EBJ@LUEI�KJ|eBp�L�@mDMGFm�HR?NMm�DE?\EI�CL�DEmSOLH'�PHLBWL@J�EeE�DNBLFL�N?QLCL'�4GR?�Fo?QGp�@m|�RmDL@J'�8RG�CL@oLQLE?� CG� EBGoLt� RJ�Gp� }?o� @?R?O?p� FmFD\CJS� �NR\M?O�� mOLBE?NR\p�E?�S�TL�EG�oeKG@?�FK\WCm'

4ORLK� CL�?�� QBeNJ� EGNGB� ELOJSg� >@GCCJSp� \p� HF?BJS_G@?Cp� 0LBLDp� DLCmELBOL� 6LRJCL� �T� DGRL� 4'�� m� X?QKLCL'6FLBEJBef@?� F� Q?Bm�CI?@e� OmCMm� DGRLp� NmK� RmD?@'� _CmNB?H?K\EI�FGDGR?'�4L@m�D?om��H�eNBJf@CUf@?p�TLoLFR\f@?�CGRJ�G�DGoGp�LRG�S�DGR\Cp�}?�Ke|G�BLK?�T�CL@J�NGBGoeFLUEI':G�NL@+\ELU�F|G�EJH�eDmH�N?FDELCDIOJH�LCGOK?EmFp�NBJN?FmK?Om�|LBEmFp�}?��H�@J�EL@�NGBGN?FmKLRJ�WJ�E?�oeRJ��H�LFE?BL@J'2mTCm�m� B?OJ� TLEGBRJ� FDG� EG� F� @?�S� NL@+\Emp� m� Em� KCmTLRJ�LUEID\�KR\�@GCG�DI?Q?KCm�@?F�~?E?p�ToRmKRG�N?�K?FQJHB?OLH'

dLDE?�T�CL@J�NGBGoeFLUEI�N?FDELCMmp�@mDMGFm�NB?FmKCJOJS� BG~GBGCEJp� L� CLSomRI�G�*�2LDEGBCLO'� V?Q?� NBJH?K?FmBLKmf@?�CG�EmRIOJ�E?@ep�}?�FmC�K?oBJS�KBeQp�LRG�S�E?@ep�}?KLDEI�TLOeBJEJ'�=GCG�FGDI�WLD�ORJWG��ELEeCU�'�/UoJEIp�\ODNmFLf@?�NmDGCI'�XeFLR?p�OL|Gg

*� PLDNmFLSEG� �PQJCeF� DEBmRGMI� F� WJDEm@� N?Rm�p� E?� KL@TLOeBJEJ'

q�w

���

0eE�H?We�O?B?EO?�TeNJCJEJD\�CLK�DELC?@�CL�JH�m�F?B?|JHDJR�CL�2?D\CCm'

2GBG@LB�� D?EGCI� 528� EJ@J� ?O?RJM\@J� NmDR\� NGBGH?Ke~B?CEe�TB?oJF�omRI�Gp�Cm|�K?FQL�NBLM\�EGBGC?FJH�NB?NL�LCKJDjEmF'�:LDGRGCC\�?Q?BCeRL�BLKmDEI�m�Q?BKmDEIp�}?�f�F|G�DF?��ToB?SCmDJRJp� \Om� Te@mRJ� T@mB\EJD\� T� DJRICm�J@� m� omRI�J@� F?B?Q?@'2B?�NGBGomQ�o?�F�?N?FmKLRJ�F�O?|C?@e�DGRmp�L�O?RJ�N?FGBCeRJD\KG@?omRmT?FLCm� F?\OJ� 528p� E?� DL@G� F?CJ� DELRJ� CLSOBL}J@JNB?NL�LCKJDEL@Jp� o?� MG�|� Q?F?BJRJ� DGR\CDIOm� KmEJ� oGTN?jDGBGKCI?�K?�DF?�H�?KC?DGRIMmF'

<� MJH� ?O?RJM\H� TF?KJRJ� o?�� CG� RJ�G� D?ECm� OjBL�A?@JpOjBL�d?BC?Q?p�LRG�ELO?|�D?ECm�OjBL�bB?@GCOLp�OjBL�1DJNL�ELOjBL�dGBCJOL'�2mDR\�KG@?omRmTLMm��FmKKmRmF�T@mMCJRLD\�EGBGC?FLNmKNmRICL�@GBG|L'�2?� DGRLH� KG@?omRmT?FLCm� F?\OJ� DL@?WJCC?N?WLRJ�EF?BJEJ�DL@??o?B?CCm�Oe}?Fm�FmKKmRJ'�<mKWeFLFD\�oBLOToB?�p�}?� ��� FmK� DEBmRIMmF� oeR?� TLoBLC?� K?�@L�LTJCmFp� KG\Om� T\OJH�eNLRJ�F�BeOJ�F?B?QL'�2mTC?�F?DGCJ�F�Mm�?O?RJMm�NBJoeFD?E'� bB?@GCO?� m� N?WLF� Q?EeFLEJ� @LRm� FmSDIO?F?jFJ�OmRICmO?CDNGOEJ'� P� D?o?U� NBJFmT� FmC� qYj?H� WJp� @?|Gp� CLFmEI� �.j?HDEBmRIMmFp��H�B?TKmRGC?�F�EGBGCmp�m�F?CJ�?BQLCmTeFLRJ�@?R?KI�FDL@??o?B?CCm� Oe}?Fm� FmKKmRJ� �46<�'� 5� DGRm� /'� DL@??o?B?CeToJBLf� DEB'� _eo� T� MI?Q?� |� DGRL'� 4GR?� /'� b'� ?BQLCmTefB?S'�PLRmTCJSp�D?E'�bB?@GCO?�?BQLCmTef�ELOm�FmKKmRJ�F�DGRLH�X'p='p��'�m�`'�7'�1O?RJMU�@mDEL�2GBG@J�R\�?BQLCmTeFLF�4eHJSj6BJRLW'�7LT?@�oeR?�.��K?oBG�?BQLCmT?FLCm�DGRL'�_?�mC�JH�DmRELO?|� TLH?KJRJ� N?FDELCMmp� @LRJ� EL@� DF?�H� K?FmBGCJH� RUKGSpLRG� NGBGoeFLRJ� F� CJH� BmK�G'� P� WLD?@� ?H?NRGC?� S� mC�m� DGRL'`O?�DI�WLDEJCJp�}?�Te@mRL�o�NB?EJDELFJEJD\�F?B?Q?Fm�ToB?SC?pE?Km�}G�CG�DEF?BGC?p�H?W�N?FDELCMmF�e�E?S�WLD�CL�MI?@e�EGBGCm@?QRL�oeEJ� D?EC\'

<?B?|m� @mDMGFm� DJRJ� oeRJ� OeKJ� DJRICm�mp� OBL}G?BQLCmT?FLCm�EL�?ToB?fCm'�b?R?FC?U�oLT?U�S�MGCEB?@�oeRJ�EeE@mDEL� 2GBG@J�RI� m� 4\CmO'� <?CJ� @LRJ� DF?�� NmKoLTJ� F� q.j?H@mDMGF?DE\H'� �m� DELCJMm� CLRmWeFLRJ� T?BQLCmT?FLCJH� RUKGSNGBGDmWC?�FmK�.��K?�q��'�4GR\C�NmK�ToB?fU�@LRJ�\OJH�[��*����W?R?FmO'�dLD�K?�WLDe�ToJBLRLD\�ELOL�WGBF?CL�N?RIDIOL�o?�FOL�TOmRIO?H�DELCJMIp�BLT?@�OmRIOLD?E�W?R?FmOp� m�CLNLKLRL�CL�DGRLp

q�k

FoJFLUWJ� DFmK?@JH� DGR\C� EL� mCEGRm�GCMmUp� NLR\WJ� DGRL� SQBLoeUWJ'�=LD?FJH�?oRLF�CL�RmDJ�Mm�o?�FOJ�CG�NB?F?KJRJp�HmoLEmRIOJ�omR\�DF?�H�QCmTKp�KR\�omRI�?��oGTNGOJ'�AE?�T�LBG�E?FLCJHKmDELFD\�CL�Mm�DELCJMmp�E?S�QJCeF�e�|LHRJFJS�DN?Dmo�FmK�E?BEeBN?�NmKFLRLH�=1'�<�@mDEm�X'�TL@?BK?FLC?�LKF?OLEL�>RICJMIO?Q?EL�mC�JH'�P�WLD?@�ELOm�o?�FOJp�DOBmNRGCm�FmSDIO?F?U�N?RIDIO?UTLR?Q?U� T�2GBG@J�R\� m� DNGMQBeNL@J� o?RI�GFJOmFp� CLNLKLRJCL� CL�m� DGRL� S� FJBmTeFLRJ� �H� e� NGCI'� 0LO� oeR?� T� XGBGTO?Up2LFR?O?@?U�EL�oLQLEI?@L�DGRL@J�CLK�4\C?@�F�?O?RJM\H�_JC?FLp_eoGMIOL�S��eBLFJMmp�CG�OL|eWJ�F|G�NB?�DGRL�omR\�2?B?HCJOLp6LRIWeQJp� 2GBGF?BDIOL� S� 7LKJ@CL'� �G� NR\C?FG� ~mTJWCGFJCJ}eFLCC\�eOBL�CDIO?Q?�CLDGRGCC\p�L�KLRm�FJCJ}eFLCC\�EJHeOBL�CMmFp�}?�N?FGBELRJD\�T�B?omE�e�:m@GWWJCmp�N?�K?B?Tm�CLEGBJE?Bm��2?RI}m�*�NGBGFL|C?�|�omR\�`DRLp�6?B?DCLp�7\�GFLS� 6BLO?FL�*� DO?RJHCeR?� eOBL�CDIOJ@� CLDGRGCC\@'� <?C?OJCeR?D\��eOLEJ� ToB?�'� 6?FLRm� S� DRUDLBm� @?CEeUEI� FD\OmDL@?NLRJp�?KC?DEBmROJp�L�DELBm�K\KIOJ�FJE\QLUEI�}G�LFDEBmSDIOmBe�CJMm'�_GFmT?U�e�CLD�EGNGB�DELR?g��A?WG��|JEJ�*�o?B?CJD\S�oJS�'�:L�D@GBEI�EBGoL�FmKN?FmDEJ�D@GBEU'

dGBF?Cm�N?RIDIOm�o?�FOJ�DELRJ�?BQLCmTeFLEJ�ELO?|�FeRJMU�FN?RIDIO?@e�DGRmg�KLUEI� �S�ToB?Up�L@eCmMmU� m�NB?FmKCJOmF'� >�ELOCGTLoLB?@�N?CLK�q[�N?RIDIOJH�@mDMGFJC�oeRJ�?ToB?fCm�N?�TeoJ'PQ?K?@� B?TTeHFLRGCm� o?�FOJ� ReWLEID\� BLT?@� m� N?DJRUUEILOEJFCmDEI'�<�K?KLEOe�F�EGBGCm�WLDE?�N?\FR\UEID\�o?RI�GFJMIOmDNGMQBeNJ�T�@mDE'�<?CJ�NB?F?K\EI�?oRLFJp�CLDO?OJ�CL�DGRL�S�RmDJ'

0?|p�?E?WGCm�T�eDmH�o?OmFp�eT\RJD\�Km\Wm�CL�?Q?�@mDMGF?Q?NmKNmRR\�K?�LOEJFC?��NBLMm�S�o?B?EIoJ'

��#VY#V!�U�[�]�cR��[R��]���UV�U �T!TUU\

4FLF?R\� WGBF?CJH� N?RIDIOJH� o?�F?Op� �H� KJOm� CLNLKJ� CLCL�m� DGRL� CG� KLFLRJ�@GCm� DJKmEJ� DN?OmSC?� S� oGTNGWC?'�A?WeT@mB\EJD\�T�F?B?Q?@'�A?W�NBLFL�BeOL�F�@GCG�MmRO?@�oGTFRLKCLp*�C?�e����NBJF+\TLCe�K?�QBeKGSp�L�RmFL�RGKFG�@?|G�DEJDCeEJNmDE?RIp� mKe� K?�2LDEGBCLOLp�}?o� KLF� \OeDI�B?o?Eep� o?� K?F�GDJKmEJ�CG�@?|e'�:G�H?We�oeEJ�E\QLBG@�e�NmKNmRRm'�2LDEGBCLORUoJF�@GCG'�<mC�DO?B?�N?BLKJFD\�Tm�DF?�@J�DNmFB?omECJOL@Jp

qZ�

S� e� NGB�JH� KC\H� QBeKC\� NBJS�R?� N?FmK?@RGCC\p� }?� @GCmNGBGKLC?� O?@LCKeFLCC\� DNGMm\RICJ@� ?H?B?CCJ@� FmKKmR?@'2LDEGBCLO�KLF�@GCm�DFmS�NmDE?RIp�o?� mC�?��ToB?��\�}G�CG�@mQC?DJEJp�L�DL@�TLRJ�JFD\�EmRIOJ�T�22a'

:L�NBJDmROe�7'�NGBGKLC?�@GCm�QBeNep�DORLK�\O?��oeF�ELOJSg7?@L�O?p�1DEB?FGBHp� _BLNLO� mT�ALBOmF}JCJp� P?B\CJSp��eBpb?BKJSp�P?TeR\�S�2e�OmC'�_?EGNGB��H�O?@LCKJB?@�oeF�b?BKJSpL�TQ?K?@�/GEeC'�1o?H�TFmRICGC?�T�DELC?FJ}L�WGBGT�CGLOEJFCmDEI'

:GTLoLB?@�DE\QLU�K?�DF?Q?�FmKKmRe�_G@Lp�DEB'�PLE?Oep�}?EGNGB�FEmO�T�~B?CEep�DEB'�XJDEB?Q?p�PLRmTC?Q?�EL�dLSOe'�1KC?Q?KC\� T+\FR\fEID\� FEmOLW� T� ~B?CEep� `B� mT� 7?QLEJC}JCJp� ELNBJC?DJEI� T� D?o?U� KFL�22a�S� ?KCe� Be�CJMU'� 7LT?@�@LUEGNGB� qZ� F?\OmF'� �mRJ@J� KC\@J� NGBGF?K|e� KF?EJ|CGFJSFmSDIO?FJS�EL�N?RmEJWCJS�FJ�OmRp�}?o�T�CJH�TB?oJEJ�FmSDIO?m� K?oBJH� omSMmF'� 2mTCm�G� \� @LS|G� }?KGCI� NBJDF\WeFLFFJ�OmRICmS�B?o?Em�N?�KFm�Q?KJCJ'

���

2GB�e�LOMmU�T�MJ@�FmKKmR?@�NGBGF?K|e�F�DGRm�b'p�KG�TLDmRLo?RI�GFJMIOL� FJDGRGCWL� O?@mDm\'� =GEL� TLDmKOJ� TCJ}JEJO?@mDmUp�}?�FJDGRUFLRL�eOBL�CDIOG�CLDGRGCC\p�KLRm�B?TmQCLEJTmoBLCm� NmKF?KJ� EL� DNLRJEJ� HLEJ� FJDGRGCMmF'� _R\� OBL}?Q?@LDOeFLCC\�B?oJ@?�MG�F�N?RIDIOJH�@eCKJBLH� m�Q?F?BJ@?�N?jN?RIDIOJ'� P?TeR\� Nm�?F� T� OmRIO?@L� mC�J@J� CL� TLDELFe� FmKDE?B?CJ�DGRL�6'p�L�P?B\CJS�T�OeRG@GE?@�=�jZ.�*�CL�TLDELFeFmK�DGRL�='�_?�CLD�K?ReWJRLD\�QBeNL�4?B?OLE?Q?�T�/G@OmF}JCJm�OmRIOL�DEBmRIMmF�mT�DL@??o?B?CJg��TI?p�dGBGNp�2JBmQ�EL�mC�m'<mKKmR� CLDO?WJF� CL� HLEJ� o?RI�GFJOmFg� FoJE?� EBI?Hp� L� ?KJCpN?BLCGCJSp� FEmO'� 4NLRGC?� KGOmRIOL� HLEp� B?TmQCLC?� NmKF?KJp� LE?@ep�}?� oeRL� @mD\WCL� CmWp� OeRG@GECJO� P?B\CJS� FJDEBmRJFOmRIOL�MmRICJH�WGBQ�mT�=�jZ.�N?��R\He�F�='p�FL|O?�BLC\WJ�EL@NBJ� E?@e� OLNmELCL�:6<_'� <� LOMm�� MmS� FmKTCLWJRJD\g� DEBmRIMmdGBGN� EL� >Q?B�*� T� FmKKmRe� 4?B?OLE?Q?'� �GS� NGB�JS� eDNmHTL?H?EJF�DEBmRIMmF�K?�KLRI�?��B?o?EJ'

���

<|G� FNLRJ� FGRJOm� DCmQJ'� 6FLBEJBef@?� F� HLEm� `C\� FQ?Bm�CI?@e�OmCMm�DGRL�/'p�NmK�RmD?@'�_GDI�oRJTIO?�q�j?��Q?KJCJ

qZq

FC?Wm�NBJomQLf�DEmSO?FJS�m�TQ?R?�efp�}?�F�NBJDmROe��'�DJRICLDEBmR\CJCL'� 2GBGO?CLCJS� e� E?@ep� }?� MG� CLDO?O� WGBF?C?�N?RIDIO?��o?�FOJ�CL�FmKKmR�4?B?OLE?Q?p�ToJBLU�DF?�H�HR?NMmF�mRmDL@J�om|J@?�CL�K?N?@?Qe'�:L�N?Rm�o?U�oLWe�FJFGBCGCm�DLCmS� eoJEJH� KF?f� O?CGS'� 0eE� EBLNJR?DI� CGN?B?Te@mCC\g� DLCI@JCLK+�HLF� X?BJD� T� 1RGCG@� m� X?QKLC?U'� :L� NBJDmROe� F?CJTeDEBmRJD\� T� FmKKmR?@� 4?B?OLE?Q?p� L� E?@ep� }?� ORJWOJ� CGTQ?K|eFLRJD\p�KmS�R?�K?�NGBGDEBmROJp�S�FmKKmR�eEmO'

���

4GR?�/'�@LRGCIOGp�Fo?QGp�NBJEeRJR?D\�K?�Q?BJ'�0eE�TJ@?UQeR\UEI�FmEBJp�TL@GEmRmp�OBeQ?@�QeKeEI�D@GBGO?Fm�S�oeO?Fm�RmDJ'P� Q?Bo?WOLp�}?� CLK� DGR?@p� K?oBG� N?RG� T?BGCC\'�4GR?� MG�@JCLTFLRJ� �4?R\CO?U�'� 0eE� @LS|G� FGDI� WLD� NGBGoeFLUEIN?FDELCMm'�<FmWRJFm� Q?DN?KLBm�FQ?}LUEI�WJ@�@?|eEI'�ARmoL�FCJH�CG@Lfp�o?�N?RG�CGFB?|LSCG�*�DL@L�|?FEL�QRJCOL�m�RJNGMI'1KJC?OG�NB?HLBWeFLCC\�*�MG��oLCKeBOL��m�FmFD\CJS�WJB'

=J�N?DEmSC?�OFLBEJBef@?�F�HLELH�`C\�S�bBJM\'�`CI?�WLDE?RUoJF�?N?FmKLEJ�DF?��mDE?Bm��T�FGDmRIp�HBGDEJC�EL�mC�JH�TLoLFp�CL\OJH�FmCp�\O�@eTJOLCEp�QBLF'��mCOL�S?Q?p�mKGSCL�eOBL�COLp�BLKmRLN?FDELCM\@Jp�FFL|LUWJ��H�TL�DF?�H�DJCmF'�AE?�o�CG�NBJS�?F�eDEe|e�WJ�TJ@?Fe�TL@GEmRIp�F?CL�TBJFLRLD\�DGBGK�C?Wmp�TLE?NRUFLRLF�NGWmp�}?o�QLB\WJ@�@?R?O?@�m�OLBE?NRGU�N?Q?DEJEJ�N?FDELCMmF'6?RJ�|�HE?DI�T�N?FDELCMmF�NB?S�?F�@J@?��H�HLEJp�CG�FDEeNJF�Jp|LRmRLD\'�:GBLT� DGBKJRLD\�CL� DF?Q?� W?R?FmOLg� W?@e�FmC�CG�@LfELO?�� Be�CJMmp� \O� N?FDELCMmp� L� RJ�G� \O?Q?DI� �FEJCOL�p�}?� K?CI?Q?�FmWC?�K?�eOef�\OJH?DI�WLDEJC'�0LOL�DL@L�TLFT\EL�eOBL�COLoeRL� m� ��� EG}Lp� Dm@KGD\EJRmEC\� oLoeD\'� <?CL� Ke|G� o?RmRL� CLKB?ToJ�LMEF?@�WGBF?CJH�o?�F?O�CLK�eOBL�CDIOJ@�CLDGRGCC\@'

:GBLT� FGW?BL@J�_BLNLO� QBLF� CL� QLB@?�Mmp� L� o?S?FJOJNBJDNmFeFLRJ'�<?CL�Em�JRJD\�CL�J@J�NmDC\@Jp�NBJQ?F?BUUWJg

*�0L�O?oJ@�E?Ee�5OBL�Ce�F|G�BLT�T?oLWJRL�FmRIC?Up�E?Km@?|e� F@JBLEJ'

0LOJH�NLEBm?E?O�@?|C?�oeR?�TeDEBmEJ�oLQLE?'=J� RUoJRJ� F� CJH� OFLBEJBeFLEJp� o?� DF?�@� }JBJ@

NLEBm?EJT@?@� F?CJ� T?QBmFLRJ� DGBM\� F?\OmFp� oeKJRJ� F� CJHTLFT\EE\�EL�DOBmNRUFLRJ�m��HCmS�NLEBm?EJT@'�:GBLT�F?\OJ�OLTLRJg

*�d?@e�|�@J�CG�@Lf@?�oeEJ�EFGBKJ@J�F�CL�mS�o?B?EIompW?@e�@J�@Lf@?�TCGFmBUFLEJD\p�O?RJ�S�@LR?QBL@?ECm�|mCOJ�F

qZ.

ELOJH� ?E� TLOeEJCOLH� oLEIOmF}JCJ� TLORJOLUEI� CLD� K?o?B?EIoJ�

���

dLD?@�OFLBEJBef@?�CL�X'p�KG�HLEL�DE?\RL�NmK�RmD?@p�L�omR\CG�� FJFmTp� K?oBJS� KR\� ?o?B?CJ� S� KR\� FmKDEeNe� F� RmD'� dLD?@TLH?KJ@?� K?� bBJM\p� K?� TCL@GCJE?Q?� @eTJOLCEL� 4EL�OLp� K?O?RJ�CI?Q?�D?REJDL�m�K?��'�2'p�}?�S?Q?�NmTCm�G�FoJRL�WGBF?CLN?RIDIOL� o?�FOL'� <mC� oeF� CLSDELB�JS� WRGC�15:� F� ?O?RJMmpLOEJFCJS�?BQLCmTLE?B�NmKNmRR\� TL�WLDmF�2?RI}mp�:m@GWWJCJ�SEGNGBp� FBG�Em� |� WmRICJS� ?DFmECI?jOeRIEeBCJS� Km\W'� :GBLTDNmFNBLMUFLF� \� T� CJ@p� NmK�eOeUWJ� C?Fm� OLKBJp� o?� FmC� e@mFNmTCLFLEJ�RUKGS�EL�FReWC?�?MmCUFLEJp�WJ�CLKLUEID\�F?CJ�K?NmKNmRIC?��B?o?EJ'�<mCp� OBLSCmS�omKC\Op�*�Ce|KL� TLQR\KLRL�FS?Q?�HLEe�T�eDmH�o?OmFp�*�DF?�H��GDEGB?�KBmoCJH�KmEGS�FJH?FeFLFe�NLEBm?EJWC?@e�KeDmt�DL@�mKGSCJSp�WGDCJS�m�FmKKLCJS�DNBLFm'

_BeQJS� ELOJS�*� MG� Q?DN?KLB� �'p� }?� O?RJDI� oeF� EeEDELCJWCJ@'� <mC� NmTCm�G� ELO?|� TLQJCeF� F� o?B?EIom'� _LRm�}G�TI?�S�mC�m'�:L�NBJDmROe�2'�|JF�O?RJDI�Q?DN?KLB��'p�LOEJFCJSWRGC�15:t�S?Q?�NmK�WLD�NGB�?��?OeNLMm��TL@?BKeFLRJ�o?RI�GFJOJFBLT�mT�?'�_?oB\CDIOJ@p�_?Foe�G@�m�K\O?@�mT�DGRL�6'

2mK�WLD�NGBGoeFLCC\�F�DGRm�/'�K?�CLD�@LS|G�}?KC\�NBJH?KJRLX?QKLCLp�}?� Q?KJCL@J�CLEJBLRL�@GCm� HF?Bm� BeOJ'� <?CL� ELO?|?NmOeFLRLD\� >@GCCJ@� m� 0LBLD?@'�:GBLT� e� DEBL�Ce� TL@GEmRIpFGRJOJ@J�DCmQL@Jp�N?QLC?�?K\QCGCLp�@LS|G�o?DL�m�RL�F?CL�DL@L?KCL�OmRIOLCLKM\EI�OmR?@GEBmFp�}?o�TB?oJEJ�NGBGF+\TOe�WJ�@LDL|m�TLBLT�|G�SEJ�KLRm�F�EGBGCp�K?�mC�JH�N?FDELCMmF'

���

1KC?Q?� KC\� NGBGK� eOBL�CDIOJ@J� 7mTKF\CJ@J� DF\EL@JTLH?EmR?D\�N?RIDIOJ@�o?�FOLB\@�mT�DmR�6'p�/'�m�/'�_'�N?QBLoeFLEJCL�G�CLDGRGCC\'

1MG�FomQLf�DEmSO?FJS�m�TQ?R?�efp�}?�F�RmDm�FmK�DE?B?CJ�/'WeEJ�Be�CJWCm�N?DEBmRJ'��G�TCLOp�}?�RmD?@�F�CLNB\@m�DGRL�/'mKeEI� o?�FOLBm� S� ?oDEBmRUUEID\p� o?� RmD� KR\� CJH� DEBL�CJS'� <DGRm�N?DELF�BeH'�:LDGRGCC\�H?FLf�@LSC?�K?�DH?FJ}'�_mFWLEL�mW?R?FmOJ� FEmOLUEI� F� RmD'�2?� HLELH� TLRJ�LUEID\� EmRIOJ� KmEJp|mCOJ�S� DELBm'�4GR?� TCLR?p�}?� TLBLT� oeKeEI�BGFmTm�p� QBLoG|mp

qZ�

OLEeFLCC\�S�LBG�EJ'�6?Q?�BLT�TLoBLRJ�T�DGRLp�E?S�CmO?RJ�F|GCG�FGBELFD\'�V?Q?�TL@?BKeFLRJ�F�KF?Bm�F�6'�Lo?�F�NmKFLRLH�=1F�@mDEGWOe�X'�dLDE?�F�DGRm�FoJFLUEI�W?R?FmOmFp�CLDJReUEI�KmFWLEpmp�CLQBLoeFLF�J�FD\O?Q?�K?oBLp�FmKH?K\EI'�4L@G�ELOL�o?�FOL�T.�� W?R?FmO� CLDO?WJRL� CL� K?Rm�CmS� OmCGMI� DGRL� /'p� L� TQ?K?@N?KLRLD\�F�CLNB\@m�NBJDmROL�2'

PoJBLU�QBeNep�FJH?K|e�CL�DRmKJ�o?�FOLBmF� m� TLR\QLf@?�FDCmQLHp�WGOLUWJ��H�N?F?B?Ee'�/G|J@?�EBJ�Q?KJCJp�L�o?�FOLBmFCG@Lf'� :L@� H?R?KC?p� EmR?� KBJ|JEIp� TLOR\ORJ� NLRIMm'� AE?DIDOLTLFp�}?� F?CJ� @?|eEI� NmEJ� mC�?U� K?B?Q?Up� CL� 6'p� E?@eomQ?@� Be�Lf@?� TFmKDmRI� F� CLNB\@m� NBJDmROep�}?o� omR\� CI?Q?TB?oJEJ�TLDmKOe'�P�FmKKLRm�����@GEBmF�oLWe��H�N?@m|�HLEL@Jp�LRGDEBmR\EJ�CG�@?|CLp�}?o�CG�TLQ?BmRJDI�HLEJ�m�CGFJCC?�CG�FNLRJCL�m� DGR\CJ'

<|G� mKeEI'� PLoBLRJ� O?CGSp� CL� CJH� @m�OJ� T� DGR\CDIO?UomRJTC?Up� FTeEE\@p� OeB@J� S� OB?RJOL@J'� 0L� CG� FGBELUEID\DEG|O?Up� EmRIOJ� SKeEI� WJDEJ@� N?RG@'� :GQLSC?� T@mC\f@?DELC?FJ}L'�Xm|J@?�DCmQL@Jp�RmD?@p�}?o�NGBGE\EJ��@�K?B?Qep��@K?oBG�SEJp�o?�CL�N?Rm�FmEGB�T@mF�DCmQp�L�@J�QBeTCG@?�N?�N?\D'XLWep�}?� CG� K?om|J@?p� E?�|� CLOLTeU� KLEJ� F?Q?CI'� XLCKJEJp@?F�N?NGWGCmp�N?WLRJ�B?TomQLEJD\�HE?�OeKJp�L�@J�SKG@?�F�N?Q?CU':L�@mDMm�TCLH?KJ@?�OBJFLFm�DRmKJ�m�FDG�N?QBLo?FLCG�@LSC?p�}?S?Q?�FmKKLf@?�DGR\CL@'�0mRIOJ�N?B?TN?R?HeFLCm�OeBJ�S�OB?RJOJomQLUEI�N?�N?Rm'�1KJC�TjN?@m|�oLCKJEmFp�4OBGCO?FDIOJSp�FL|O?BLCGCJS�N?@GBp�L�KBeQJS�TLRJ�JFD\�oGT�BeOJ'

XGBG@?�N?RIDIOm��LNOJjB?QLEmFOJ�m�SKG@?�CL�@mDMG�N?DE?U'<?B?Q�KmDELF�DEBLHp�L�DGR?�/'�@LR?�CL�K?F�JS�WLD�DN?OmS'�:LTLDmKMm�FmKTCLWJFD\�o?S?FJO�_BLNLO'

���

1KJC� mT� CLSFL|WJH� NGBGH?KmF�*�NGBGSEJ� DCmQ?Fm� TLFm�� TDGRL�/'�CL�DGR?�/'�<�DGRm�/'�b'�CG�@?|CL�oeR?�OFLBEJBeFLEJp�o?S?Q?�}?KGCI�FmKFmKeFLF�F?B?Qp�L�F�K?KLEOe�EL@�Km\RJ�DGOD?EJ'

P�DmWC\�FJH?KJ@?�T�DGRL�/'p�}?o�CL�7mTKF\Cm�DF\EL�oeEJ�FDGRm�/'�ELp�OBm@�N?RLQ?K|GCC\�CL�JH�DNBLFp�FmKFmKLEJ�TCLS?@JH'<NLRJ�FGRJOm�DCmQJ'�PJ@L�oeRL�TLFLRICL�S�@?B?TCL'

XBGKG@?�DEBmRGMIOJ@� QeDLO?@�RmDL@J�CL� Q?Bm�CmS�OmCGMIDGRL�/'p�KG�FmKN?WJFLf@?p�}?o�eC?Wm�NGBGSEJ�omR\�NBJDmROL�6'�JH�FmDm@�OmR?@GEBmF�@J�S�RJ�N+\EI�Q?KJC'�:LD�oeR?�E?Km�KGF+\EIg

qZZ

1DEB?FGBHp� P?B\CJSp� _G@?p� `Bp� _BLNLOp� 7?@L�O?p� XJDEBJSpPLRmTCJS� m� \'� PLRmTCJS� NB?FLKJFp� o?� TCLF� K?oBG� K?B?Qe'� <DmmC�m�TLRJ�JRJD\�F�?O?RJMm�DGRL�='

:LKFGWmB�NmKC\RLD\�ELOL�HeBE?FJCLp�}?�Q?Km�oeR?�FmKKJHLEJ'XJR?� DCmQ?@� eFmWmp� CLFmUFLR?� OeBQLCJ'� 5Dm� @Jp� CLOBJF�JDINLRLEOL@Jp�R\QRJ�e�DCmQp�}?o�H?B?CJEJ�DGoG�FmK�FmEBe'

=LB�� eE?@JF� CLD� ELOp�}?� \� S� CG� DE\@JFD\p� \O� @J� FDmN?DCeRJ'�=GCm� oeR?� EGNR?'� 4FmK?@mDEIp�}?� \� DNRU� m� DEmSOJCG@Lf�EL�}?�@J�@?|G@?�TL@GBTCeEJp�OL|G�@GCm�FDELEJ'�8RG�\CG� @?|e'� 6?RJ� \� T� EBeK?@� NmKFmFD\p� K?FO?RL� @GCG� CG� oeR?CmO?Q?'�2GFC?p�FmKmS�RJ'�8|�EeE�\�N?oLWJF�CLDJNJ�DCmQe'�AE?DIHB?NG'� PL� KFm� Q?KJCJ� DCmQ� TLOeBJF� CLD� ELOp�}?� CL� O?|C?@eoeR?�S?Q?�o?KLS�T�NmF@GEBL'�7?ToeK|eU�F?\OmF� m�OL|e�DO?B?@LB�eFLEJp�}?o�TLQBmEJD\p�LRG�O?|CJS�OL|Gp�}?�S?@e�EGNR?'

_GDI�O?R?� Q?KJCJ�.�j?��@J�DELCeRJ�DGBGK�OmRIO?H�oeWOmFCL�CGFGRJWO?@e�Q?Bo?WOep�}?�CLK�N?E?O?@p�CLK�HLE?U�bBLoL'_?�HLEJ�}G�@GEBmF�N+\EKGD\E'�<mEGB�DFJ}Gp�QeKG'��?DI�CLOLTLR?@GCm��GNCeEJg

*�<FL|LEJ�CL�TLDmKOe�5Dm�MGS�CLOLT�KmDELRJp�m�EmRIOJ�PLRmTCJSp�}?�S�?F�N?NGBGKep

CG�N?WeF'�<mC�N?omQ�NB?DE?�K?�HLEJ�CL�B?TFmKOe'�0mf��|�HFJRmoLWe�OmRIO?H�N?R\OmFp�}?�om|LEI�TL�CJ@�eDRmK�TjNmK�OReCm'�aGN?WeK?�7?@L�OLg

*�4EBmR\Sp�o?�\�CG�@?|e�FJDEBmRJEJ�T�NmDE?R\'<mC�N?EJDCeF�TL�DNeDOp�LRG�TL@?O�T+�HLF�N?@LRe�*�ToB?\

TL@GBTRL'<NLRJ�F?B?|m�DEBmRJp�m�\�OBJWeg*�<?Q?CI�0L� F�CLD� DEBmR\f� EmRIOJ�Be�CJM\�_BLNLOL'�<D\� TL@GBTRL

ToB?\�@?FWJEI'�2?R\OmF�FJKC?�\O�CL�K?R?Cmp�EmRIOJ�DEBmR\Sp��HoRJTIO?�Z��ToJR?D\�NmK��?N?Up�DE?K?R?U�S�OeTCGU'�X?S?FJOJF|G� DNBLFJRJ� ToB?Up� FmKOBJFLUEI� F?Q?CIp� LRG� N?R\OJDNB\@eFLRJ� CL� CLD� DJRICm�JS� F?Q?CIp� m� HR?NMm� N?WJCLUEIFmKDEeNLEJ'� 6BJWeg

*�6eRG@GE�K?�NGBGKe�0L�OeRG@GECJOp�TL@mDEI�NmKomQEJ�T�OeRG@GE?@p�KLf�S?Q?

_G@?Fmp� }?o� E?S� N?KLFLF� T� BeO� K?� BeO� K?� NGBGKe'� _G@?N?DELFJF� OeRG@GE� omR\� @GCG� m� FEmOLf'� :G� K?DJEIp� }?� CLDNmKFGRL� ToB?\p� L�CL� K?KLE?O�}G�S�OeRG@GE�@?FWJEI'�<?B?Q

qZ[

@Lf� EmRIOJ� ?KC?Q?� @GCG� F� N?E?Mm'� bBLK?@� NLKLUEI� OeRmK?FO?RL�@GCG�F�DCmQe'�`�CG�@LU�DJR�FJKGBEJD\�T�N?E?Oep�o?DCmQ?Fm� CLDJNJ� FGRJOmp� L� BeOL@J� D?om� CG�@?|e� K?N?@?QEJ'�?�EmRIOJ�NmKRmTe�CL�oGBGQp�T+�|K|LU�CLTLK'�_?FGKGEID\�EeENB?NLDEJ'

0L�XJDEBJSp� O?RJ�N?oLWJFp�}?�@GCG�N?@m|�CJ@J�CG@LfpNBJomQ� CL� K?N?@?Qep� FJE\Q� @GCGp� S� @J� TLR\QRJ� CL� Q?Bm'� 0eECLOLTeU�CLDEeNLEJp�}?o�N?@DEJEJ�D@GBEI�PLRmTC?Q?p�}?�FNLFNmK� HLE?Up� EL� TLoBLEJ�OeRG@GEL'�XJDEBJS�N?DJRLf� �BLCLEe� TL�BLCLE?U'�2?R\OJ� NmKNLRJRJ� HLEep� oLQCGEL@J� TLO?R?RJ�@LEmBbBLoL� EL� S?Q?�|mCOe� �DGDEBe� XJDEB?Q?�� S� N?BLCJRJ� F� C?QJ@?R?K�?Q?� oBLELp� }?� DH?FLFD\� NmK� Rm|O?'� 2mKNLRGCL� HLEL?DFmEJRL�N?R\OmFp�@J�F|G�KmDELRJ�OeRG@GEL�m�o+f@?�oGT�NGBGBFJ'2?R\OJ�@LUEI�e|G�OmRIO?H�eoJEJH� m�BLCGCJHp�TLoJBLUEI� �H� mFEmOLUEI'

4@GBEI� mKGSC?Q?p� FmKFL|C?Q?� S� B?Te@C?Q?� NmKDELB�JCJpB?S'�PLRmTC?Q?p�oeRL�KR\�CLD�o?RUWL'�<�K?KLEOe�oeRJ�TLBmTLCmKFm�|mCOJ'�<?B?Q�@LF�N+\EI?H�eoJEJH�m�OmRIO?H�N?BLCGCJH'

<GBELEJD\�CL@�e|G�NmTC?'�2?R\@J�SKG@?�F�Q?Bm�CmS�OmCGMIDGRL�S�OFLBEJBef@?'�:L�KBeQe�CmW�FGBELf@?DI�K?�DGRL�/'

PL�OmRIOLCLKM\EI�KCmF�NmDR\�MI?Q?�o?U�K?�DGRL�/'�b'�TC?FeNBJS�RL�WGBF?CL�N?RIDIOL�o?�FOLp�EGNGB�\OJH�.���W?R?FmOp�FL|O?N?oJRL� .�� eOBL�CDIOJH� DGR\C� m� NLB?HLp� ?'� �'p� L� N?oJE?Q?KJBGOE?BL��O?RJ�6BGCEe� TLoBLRL� T� D?o?U'�2?� K?B?Tm� S?@eN?RL@LRJ� BeOJ� S� C?QJ� m� F� DGRm� /'� _'� TLNLRJRJ� ?KCe� HLEe� SOJCeRJ�S?Q?�F�F?Q?CI'�_JBGOE?B��O?RJ�6BGCEL�F@GB�T�?ORJO?@g�`�F@JBLU�TL�5OBL�Ce�'

2?RIDIOm�o?�FOLBm�DNLRJRJ�OmRIOLCLKM\EI�HLEp��eOLUWJ�TL�Oe}'bBLo?@p�DELC'�XmRO?Up�6?R?D?@p�2JERG@p�2LFRU�O?@�S�mC�J@J'

5DeFLU� CGCLKmSCJH� DEBmRIMmFg� P?TeRU� S�_G@L'� 7?@L�O?NGBGSKG� CGTLoLB?@� K?� QBeNJ� XmDL� F� ZjJS� BLS?C'� _?� @GCGNBJH?K\EIg� 9|p� A?R?KCJSp� d@mRIp� <GK@mKIp� B?S'� de@LOp� DEB'6LB@GRUOp�dGBGNp�2JBmQp�X?QKLCp�_eKLp�DR?FLO��>R@L�m�TLOLBNLEGMIP?B\'�0GNGB�FmKKmR�CLRmWef�.��W?R?FmO'�6?|GC�T�mC�?��@mDMGF?DEJ'_mRU��H�CL�EBJ�B?�t�O?@LCKeFLCC\�CLK�NGB�J@�B?f@�NGBGS@Lf1DEB?FGBHp�CLK�KBeQJ@�*�d@mRIp�CLK�EBGEm@�*�de@LO'��G�BLTNGBGF?K|e�FJ�OmRp�}?o�FGDC?U�N?WLEJ�C?Fm�Km�'�0GNGB�N?DEmSC?NGBGH?K|e� T� @mDM\� CL� @mDMGp� }?o� NBJFWJEJ� DF?�H� RUKGSBGSKeFLEJ'�:L��BeH�eEBeKCUf�F?B?Q?Fm�B?TFmKOep�CG�KLf�S?@e

qZY

eDNm�C?� NB?F?KJEJ� ?oRLFp� CLDO?OmF� m� TLDmK?O'� <EBJ@eUN?DEmSCJS�TF+\T?O�T� mC~?B@LE?BL@Jp�}?o�oeEJ�F�OeBDm�DNBLF'2BJ� E?@e� FmKFmKeU� DGRLp� ToJBLU� @LEGBm\RJ� NB?� DGOD?EmF� mK?C?}JOmFp�K?ORLKCm�G�NmTCLU�BeHJ�S�Km��F?B?QL'�<WeFLUD\�FCLDEB?�� CLDGRGCC\p� S?Q?� NDJHmOep� S?Q?� N?EBGoJp� oL|LCC\� mOBJFKJ'�XeEJ�o?�F�N?DEmSC?@e�TF+\TOe�T�CLDGRGCC\@p�TCLWJEI?NLC?FeFLEJ�S?Q?'�XeEJ�FmKmBFLCJ@�FmK�CLDGRGCC\�*�MG�EG�DL@Gp}?�FEBLEJEJ�S?Q?'

:L�m�K?B?QJ�NGBGH?KmF�WLDE?�T@mCUU'�=mDM\p�KG�F?B?Q�@mQoJ�TLNBJ@mEJEJ�CL��DRmKp�@LDOef@?'

<mK�\O?Q?DI�WLDe�Be�JR?D\�N?RIDIOG�o?�FOLBDIOG�QCmTK?�X'=LS|G�}?KC\�BLCCm@�BLCO?@�CLNLKLUEI�WGBF?Cm�o?�FOLBm�CLeOBL�CDIOm� DGRL'�=LS|G� F� O?|C?@e� DGRm� TQ?BmR?� OmRIOLKGD\EHLEp�TQJCeR?�OmRIOLCLKM\EI�@?R?KJH�HR?NMmFp�DOLE?FLC?�KmFWLEpN?QBLo?FLC?� omRJTCep� ?K\Qp� FeRJOJp� mCFGCELBp� Tom||\p� HeK?oeE?}?'�5DG�EG�oLCKJEJ�FGTeEI�K?�DF?Q?�DGRLp�}?�@m|�RmDL@J'

4?E'�bB?@GCO?�TmoBLF�DFmS�46<�m�T�W?E?U�B?oJEI�TLDmKOJpLRG�oGTeDNm�C?'�X?�FOLBm�H?K\EI�BmTCJ@J�K?B?QL@Jp�L�F?KJEI��Ho?RI�GFJMIOJS�NLBEJTLC�4RfNJS'�<�DGRm�X'�F�CGWeFLCJS�TLDmoTL@?BK?FLC?�eOBL�CM\�2fHL'�4GR?�@Lf�K?�����o?�FOLBmFp�o?�FOe86�*����W?R?FmO�m�=1�*�n��W?R?FmO'�PoB?U�KmDELRJ�F�DNLKOeFmK�N?RIDIO?Q?�FmSDIOL�}G�qk�k�B?Oep�TLRJ�JF����NBJ�FmKDEeNm?KJC�N?RO'�4E\QCeRJ�ELO?|�oLQLE?�ToB?��T�CL�JH�DmR'�1KC?Q?BLTe�T�QBeN?U�Nm�?F�\�K?�D?E'�bB?@GCOL�EL�BLT?@�@J�NB?RG|LRJF�DCmQLH�MmRJS�KGCI�e�RmDmp�WGOLUWJ�F?B?QLp�LRG�FmC�e�E?S�WLD�CGNGBGH?KJF'

dGBGT�7mTKF\Cm�DF\EL�H?KJ@?�N?�DGRm�_'�T�O?R\KO?U'�A?WG@?DF?fU�NBJDeECmDEU�NmKoLKI?BJEJ�DGR?p�}?�o?�EID\�oLCKJEDIO?Q?CLNLKe'�_G�EmRIOJ�CG�N?\FJ@?D\p�FFmWRJF?�FQ?}eUEI�CLD�Q?DN?KLBmpFDUKJ�TLEBJ@eUEIp�LRG�@J�DNm�J@?D\p�o?�H?WG@?�FDmH�FmKFmKLEJ'

<� EBGEmS� KGCI� DF\E� @?�� DEBmRIMm� N?jDF?f@ep� N?jF?\MIOJpFmKoeRJ�@?��m@GCJCJ'�2BJS�R?�oLQLE?�DGR\Cp�@?R?Kmp�}?�TCLRL@GCG�?D?oJDE?p�E?�S�E?@e�CG�oeR?�W?Q?�O?CDNmBeFLEJD\'�<FGW?BmpO?RJ� H?KJ@?� T� O?R\K?Up� T� CL@J� SKG�@?R?KIp� TLK?F?RGCLp�}?@Lf�DF?�H�?o?B?CMmF'

���

2BJDmR?O�7'�DGRL�X'�*�MGp�FRLDCGp�KGOmRIOL�HLE�@m|�KF?@LQRJo?OJ@J�RmD?FJ@J�N?E?OL@Jt�FmK�NmFKC\�E\QCGEID\�RmD'

qZn

b?DN?KLB� bBJMI� oeF� W?R?FmO� mCEGBGDep� L� S?Q?�|mCOLp� \OeFmC�Ke|G�RUoJF�m��LCeFLFp�oeRL�CGLoJ\OJS�DOeNLB'

PLQLRIC?�N?FDELCMm�CLBmOLRJ�CL�CJHp�LRG�\�FmKWeF�bBJMGFG}JBG�DELFRGCC\�S�WLDE?�TLH?KJF�K?�CI?Q?'�<mC�HFLRJF�CLD�TLEGp�}?��o+f@?�TLF?R?OmF�m�o?B?CJ@?�RUKGS�'

�?o� CG� ?oE\|eFLEJ� S?Q?p� NGBGH?KJ@?� K?� DeDmKmF'� <mCTKJFeFLFD\� m� TLNJELFp� W?@e� @J� FmK� CI?Q?� FmKmS�RJ'� 6?RJ� \FJ\DCJF�S?@ep�DN?OmSC?�DOLTLFg

*�<J� CG� omSEGD\� TL� @GCGp� \� FLD� CmO?RJ� CG� TBLK|e'�:GK?WGOLEJ� WGBF?CJ@�@GCG� FNmS@LEJ'�8� \O�NBJSKeEI� QBLoeFLEJ@?U�HLEep�E?�\�}G�@LU�K?oBe�Be�CJMUp�?EL@�omR\�O?NLRICm�SoeKe�oJEJ�oLCKJEmF'''

<RmEOe�qkZ[�B?Oe�CLDO?WJR?�WGBF?CG�N?RIDIOG�FmSDIO?�CLS?Q?� HLEe'� 6?RJ� QBLoeFLRJ� S?Q?� @LSC?p� FmC� NRUCeF� F� RJMGN?RIDIO?@e�DELB�JCm�S�OJCeFD\�omQ?@�N?�DF?U�Be�CJMUp�LRGF?B?|L�OeR\�CLTK?QCLRL�S?Q?�NmK�RmD?@'''

�G�OFLBEJBeFLRJ�@J�F�Q?DN?KLBmF�6'�<?CJ�CmO?RJ�CG�TLDmRJDL@m� K?� 4F\E?�� <GWGBm� WJ� K?� DF\WGC?Q?� oGT� N?FDELCMmF'b?DN?KJC\�FGDI�WLD�DORLKLRL�@LDR?p�DJBp�\SM\�CL�EGp�}?o�CJ@JN?Q?DEJEJ� N?FDELCMmF'� <?CL� Ke|G� Ee|JRL� TL� DF?�@J� EBI?@LK?WOL@Jp�}?�KGDI�F�:m@GWWJCm�CL�B?o?ELHp�m�CG�oeR?�NB?�CJHFmDEOJ'�dLDE?�Q?F?BJRLg

*�6?oJ� F|G� oeRL� EL� 5OBL�CL� FmRICLp�}?o� FJ�}LDRJF?FGBCeRJD\� K?� DF?�H� K?@mF'�=?\� QLKOL�*� FmKKLEJ� K?WOJ� TLN?FDELCMmFp�o?�oLWe�@m|�CJ@J�CLSRmN�JH�Q?DN?KLBDIOJH�DJCmFm�WGDCJH�OLFLRGBmF'

2mTCm�G� \O?DI� CLDO?WJRJ� WGBF?Cm� N?RIDIOm� o?�FOLBm� CLNBJDmR?O�m�Q?DN?KLB\�6'�FoJRJ'�P�:m@GWWJCJ�FGBCeRLD\�EmRIOJ?KCL� K?WOLt� F?CL� FGDI� WLD� ?NmOeFLRLD\� N?FDELCM\@J�*K?N?@?QLRL��@p�FLBJRL��DEJp�NBLRL�omRJTCe'

���

_GO?RJ� NGBGoeFLf@?� CL� NBJDmROe� <'� <mC� CL� Q?Bo?WOetK?FO?RL��JB?Omp�FmKOBJEm�N?R\p�E?@e�TLH?KJ@?�DUKJ�BmKO?'

b?DN?KLBmp�}?�|JRJ�TL�Cm@MmF�F�@mDEm�2'p�TCLUWJ�K?oBG�@mDE?S�N?RIDIOe�@?Fep�N?RLKCeUEI�CL@�eD\Om�DNBLFJ�m�B?oR\EI�TLOeNJ'

0eE�m�CL�NBJDmROe��'�N?DEmSC?�NGBGoeFLf��BO?'dLDE?� TLH?K|e� K?� NBJDmROL�/'p� K?� @mDMGF?Q?� DF\}GCJOL

oLNEJDEmF'�<mC�WGDCL�S�HLBLOEGBCL�RUKJCL'�6mRIOLBLT?F?�oeF

qZw

LBG�E?FLCJS�N?R\OL@Jp�H?W�X?Qe�KeHL�FJCGC'�2mDR\�TFmRICGCC\T� EUB@J� DELF� DNmFNBLMUFLEJ� T� N?FDELCM\@J'� V?Q?� NmTCm�TL@?BKeFLRJ�WGBF?Cm�o?�FOLBm'

>CO?RJ�O?B?EO?�TeNJC\f@?D\�m�F�DGRm�7'�6'p�e�OBLSCmS�HLEmp}?� NmK� RmD?@p�}?o� N?WLDEeFLEJ� N?RIDIOe� o?�FOep� \OL� TWLDELCLNLKLf�CL�MG�DGR?'�1KC?Q?�BLTep�F|G�CG�NL@+\ELU�KLEJp�CLNLRLCL�MG�DGR?�o?�FOL�S�N?WLRL�QBLoeFLEJ'�PLLR\B@?FLCm�om|J@?�SB?TDEBmRIC?U�CLDEeNLf@?� CL� F?B?QL'� 0mRIOJ�}?�@J� FmKOBJRJDJRICJS�NGB�JS�F?Q?CIp�m�F|G�M\�KF?OBLEC?�DJRICm�L�o?�FOLN?WLRL�FEmOLEJ'

_?� BmTCJH�@mDMGF?DEGS� TLNB?�eUEI� CLD� DGR\CJp� Q?R?FC?|�CL�NBJDmR?O�2'p�KG�KmFWLEL�@LS|G�}?KGCC?�H?K\EI�K?�DGRL�/'p}?o�K?QR\KLEJ�BLCGCJH�DEBmRIMmFp�B?TC?DJEJ��EL~GEJp�FLBJEJ�DEJ�S�K?N?@?QLEJp�F�W?@e�N?EBmoC?'

PLH?KJ@?�S�CL�NBJDmR?O�d'p�KG�?KCL�DGR\COLp�L@GBJOLCDIOLQB?@LK\COLp� N?DEmSC?� FGKG� B?TFmKOe� S� mC~?B@ef� CLD� WGBGT@LRGCIO?Q?� HR?NWJCe'

�JFG@?� F� ?KCJH� Q?DN?KLBmFp�}?�*� H?W� m� DL@m� omKCm�*?DELCCm@J� HLBWL@J� KmRJRJD\� T� CL@Jp� L� O?RJ� NBJS�RL� FGDCLpQ?R?KeFLRJ'� 8RG� S� @J� CG� TLoeRJ� NB?� CJHg� \� OLTLF� HR?NM\@FmKFGTEJ��@�O?BE?NRUp�@+\D?p�HLS�@Lf�S�Q?DN?KLB�T�W?Q?�|JEJpo?�S?Q?�HLBWm�T+�KLF�CL��FmKKmR'

���

<DU�TJ@e�@LS|G�F�O?|C?@e�DGRm�NB?NL�LCKJDEJ�NGBGF?KJRJT� CLDGRGCC\@� To?BJ'� <mKoeFLRJD\� Fe|Wm� DH?KJCJ� WRGCmF� mDJ@NLEJOmF� NmKNmRIC?�� @GBG|mp� W?R?FmOmF� m� |mC?O'� 1O?RJMUNB?WJ}GC?� FmK� DGOD?EmFp� F?B?|m� L�GCEeBJ� TCJ}GC?'� <� EGBGCmTCJ}GC?� OmRIOLCLKM\EI?H� o?RI�GFJMIOJH� DELB�JC� TNB?EJB?TFmKOJ'�:LSomRI�G�NBLMm�FORLF�1RGCI'

<?B?Q�FmKWeFp�}?�CL�G�|JEE\�T@mMCmR?�EL�}?�S?@e�FDGMmR?FmKKLCG�CL�G�CLDGRGCC\'

P� CL�?Q?� EGBGCe� FmKH?KJEI� EBLCDN?BE� HLBWmFp� EUEUCe� SomRJTCJ� KR\� OeBGC\� 528� CL� /G@OmF}JCmp� \OJS� TJ@ef� F�0BJOeECJOe�'

1KC?Q?�KC\p�@LoeEIp�T�OmCMG@�RUE?Q?�qkZ[�B?Oep�@J�FJS�RJNGBGK�HLEJ�F�DGRm�/'�m�oJRJD\�DCmQ?@'�<BLT�KmDELf@?�EBJF?|CmFmDEOJp�}?�F�CLNB\@m�/'�N?�HLRL�\OL�EJD\WL�o?RI�GFJOmF'�0mRIOJ@J�NB?�MG�K?FmKLRJD\p�L|�EeE�oLWep�\O�o?RI�GFJOJ�B?TDEBmRIC?U

qZk

?oH?K\EI�Q?Be�NBJDmROL�<'p�KG�NGBGoeFLF�EGBGC?FJS�NB?FmKCJO�BO?� EL� OmRIOL� DEBmRIMmF� OjBL� bB?@GCOL'� `OBLT� TLH?K\EI� FmKRmDep�}?o�EeKJ�CG�NB?BFLRJD\�N?FDELCMm'�PCLUp�}?�@?BLRICJS?o?F+\T?O�O?|C?Q?�WGDC?Q?�F?\OL�*�SEJ�T�K?N?@?Q?U�KBeQ?Fm'PoJBLU� QBeNe� S� H?We� FKLBJEJ� o?RI�GFJOL@� FmK� EJRep� }?oFmKE\|JEJ��BOL'�5|G�DEBmRIMm�N?FJomQLRJ�T�HLEp�LRG�2LDEGBCLOTLo?B?CJF�B?oJEJ�MGS�CLDO?O'�=LoeEIp�CG�H?EmF�B?TO?CDNmB?jFeFLEJ�DGRL'

<|G�WeEJ�omS'��BO?�NB?oJFLfEID\�F�CL�?@e�CLNB\@m'�2mKRmD?@�S?Q?�N?BLCJRJp�L�TCG@?|GC?Q?�F�RmDm�K?oJRJ�o?RI�GFJOJ'PLQJCeR?�E?Km�KGOmRIOL�N?FDELCMmF'�1KCL�WLDEJCL�o?RI�GFJOmFNm�RL�CL�`'p�L�KBeQL�*�CL�CL�m�RmDJ'

<?B?Q� N?NLF� \OBLT� CL� CL�m� DRmKJ'�=J� FmKDEeNLf@?� F� RmDDEBmRGMIOJ@� QeDLO?@p� L� ?NmDR\� OBeE?� TLFGBELf@?p�}?o� CLTLKN?NLDEJ� CL� F?B?|JS� DRmK� m� FGBCeEJD\� EeKJp� TFmKOJ� NBJS�RJ'0LO�m�DELR?D\'�:L�CGFGRJWOe�FmKKLRI�@J�FJ@JCeRJ�o?RI�GFJOmFp\Om�NB?ORJCLRJ�CLDp�}?�ELO�HJEB?��@�FEGORJ'�:L�TLOBeEm�DEBmRIMmH?EmRJ�DEBmR\EJ�K?�o?RI�GFJOmFp�LRG�\�CG�K?TF?RJFp�o?�E?Km�CLDQCLRJ�o�B?TDEBmRIC?U�FGRJOJ@J�DCmQL@J�EL�oeRJ�o�FGRJOm�FEBLEJ'

0LO�WGBGT�EBJ�KCm�H?KJRJ�@J�DRmK?@�TL�o?RI�GFJOL@Jt�TCL@J�oeRJ�2LDEGBCLOp�_eoGCO?p�X?QKLCL�S�mC�m�N?FDELCMm'

P�WLD?@�@?\�QBeNL�DELRL�CLSOBL}?U�F�?O?RJMm'X?RI�GFJOJp� NB?FmF�J� ?oRLFJ� F� CLDp� N?KLRJD\� CL

/G@OmF}JCe'� 0mRIOJ� F?CJ� FmKmS�RJp� L� F|G� WGBF?Cm� N?RIDIOmo?�FOJ�B?TRmTRJD\�N?�?O?RJMm'��?o�EmRIOJ�B?TELCeF�DCmQp�E?KmNB?FWJ@?��Hp�o?�EGNGB�FNLR?�CLKE?�FGRJOm�DCmQJ�S�FL|O?�H?KJEJ':L�m�DGRL�Q?B\EIp�L�o?�FOJ�QeR\UEI�oGTOLBC?'

1KC?Q?� BLTe� Nm�RJ� @J� CL� NBJDmR?O��'p� KG� TL� Cm@GMIO?�?OeNLMm�� TLQJCeF� oeF� WRGC�15:p� BG~GBGCE�4X�4JWp� L� DR'� N'�BO?�DORLF�oeF�NB?�CI?Q?�NmDCU'�PLOFLBEJBeFLRJ�@J�F�HLEmKF?H� CL�JH� KmFWLEp�=LBmSOJ� S�1RIQJp� L|� EeE� T� eDmH� DE?BmCB?TDEBmRIC?U�mKeEI�N?R\OJ'�=J�F��@LDO?FOLH��RGQO?�FJN?FTLf@?T� ?E?WGCC\p� NGBGH?KJ@?� K?� K?Rm�CmH� HLE� DGRL� _'p� L� TFmKDJFGBHL@J�F�6'�RmDJ'�dGBF?CL�N?RIDIOL�o?�FOL�mKG�DRmK?@�TL�CL@JpL�@J�@LCGFBef@?�O?RGD?@�CL�DGR?�/'�*�m�F|G�CL�EJRLH�F?B?QL'

:L�Q?R?FC?Q?�oLCKJEL�DGRL�X'�4RfN?Q?�1RGCI�H?EmF�TB?oJEJTLDmKOep� m� F?CL� FKLRLD\� op� LRG�1RGCI� CLNGBGK?KCm� CLNLF� CLo?RI�GFJMIOJH� DELB�JCp� TCJ}JF� �H� OmRIO?Hp� LRG� S� DL@� NBJE?@e� TQJCeF'

q[�

0GNGB� WGBQL� CL� @GCG�*� mEJ� CL� TLDmKOe� CL�4RfN?Q?'��GRG|LRJ� DCmQJp� O?RJ� @J� NmKDeCeRJD\� CGKLRGO?� K?B?QJ� FK?Rm�CI?@e�OmCMm�DGRL�/'�:LD�N?FmK?@RGC?p�}?�DLCOL@J��HLEJ@G4RfNJS�T�KF?@L�DEBmRIM\@J'

<|G� �KeEI'�2mKNeDOLU�oRJTIO?p�KJFRUD\�WGBGT�KLRGO?FJK*� Cmp� CG� 4RfNJS'� 9KeEI� KFm� oLoJ� m� N?RIDIOJS� ODI?CKT'�=JNB?NeDEJRJ'� PL� KGOmRIOL� KCmF� K?FmKeUD\p�}?�MG� �HLF�4RfNJSpNGBGoBLCJS� TL� ODI?CKTL'� PL� \OJSDI� WLD� TC?Fe� HE?DI� TjN?@m|CL�JH�TB?oJF�B?TFmKOep�m�MGS�|G�4RfNJS�NGBGK�DL@?U�TLDmKO?UTRmT�T�NmKF?KJ�EL�mT�DF?fU�?H?B?C?U�?omS�?F�CGoGTNGWCG�@mDMGN?RG@p�L�N?B?|Cm�NmKF?KJ�NB?�HLRJ'�0LOm��EeOJ�S?@e�FKLFLRJD\KGOmRIOL�BLTmF'

4R'� N'� 1RGCI� oeF� TCL@GCJEJS� o?S?FJOp� FmKFL|CJS� K??KWLSKe�C?DEJp� TKmoCJSp� TCLF� eD\Om� NmKDEeNJ� S� HJEB?}m'PCLUWJ�K?oBG�B?DmSDIOe�@?Fep�BLT?@�T�XmD?@p�/GF?@�m�mC�J@JF@mF�TCL@GCJE?�FJR?FRUFLEJ�o?RI�GFJMIOJH�DELB�JC'�P�CJ@\� CG� TCLFD\� ?D?oJDE?p� LRG� F� B?o?Em� @J� FTLf@C?� T@LQLRJD\� mCLFFJNGBGKOJ� ?KJC� NGBGK� ?KCJ@� H?EmRJ� FE\EJ� \OeDI��EeOe'<mC�N?H?FLCJS�e�DF?f@e�BmKC?@e�DGRm�6'

���

_?�CLD�NBJS�RJ�De@Cm�FmDEOJg�NmK�WLD�CLDO?Oe�o?RI�GFJOmFF�0j?@e�RmDm�TLQJCeF�OjB�=e�OLp�F�DGRm�/'�TLQJCeF�6LK?FoGMI'=LS|G�T�O?|C?Q?�DGRL�NBJH?K\EI�FmDEOJ�NB?�FoJFDEFL�DGR\C�mN?FDELCMmF'

1DI�?KJC�QGB?SDIOJS�WJC�DGR\CDIO?��KmFWJCJp�DGDEBJ�/GFLp@LoeEIp�CL�m@+\�6LEBeDmp�mT�DGRL�6'

1KC?Q?�KC\�F?CL�TLNBJ@mEJRLp�}?�o?RI�GFJOJ�?E?WeFLRJDGR?'�=GB}mS� om|JEI� N?FmK?@JEJ�@mDMGF?Q?� DELCJWC?Q?p� F|GELOJ�NmK�N?DEBmRL@J�o?RI�GFJOmF'�4ELCJWCJS�}LDRJF?�FEmOLf�TDGRLp�L�E?Km�F?CL�om|JEI�N?FmK?@JEJ�}G�O?Q?DI�mT�BLS?C?F?Q?NB?F?Kep�}?�NGBGoeFLF�oGT�DEmSOJ�F�HLEm�CL�N?Rm'�2?BLCGCL�CLomQep�}?o� CG� OJCeEJ� NmK?TBmCC\� CL� Ee� HLEep� OeKJ� NB\@eFLRLpTLFGBELf� CL� NB?EJRG|CJS� omOp� L� TL� CGU� DRmK?@� om|LEIo?RI�GFJOJ'�:L�N?Rm� ���}G�BLT�N?BLCJRJ�F�?oJKFm�C?QJt� E?KmF?CL�}G�CL�BeOLH�N?FTGp�}?o�oeEJ�N?KLRm�FmK�Emf��HLEJ�EL�FmKE\QEJTFmKEJ�F?B?QL'�PCG@?|GCL�FNLRL�CL�TG@RUp�NB?�JEL��mDECLKjM\EI@L� o?RI�GFJMIOJ@J� OeR\@J'� 6?RJ� o?RI�GFJOJ� H?EmRJoBLEJ����K?�HLEJp�F?CL�NRUFLRL��@�F�?oRJWW\p�OBJWeWJg

q[q

*�_JOeCJ�LTm\EDIOm��bGEI�FmK�@GCG��4@GBEI�FL@�CL�CL�mSTG@Rm�

_?NJEeFLRJ���p�LRG�F?CL�CG�DOLTLRL�CmW?Q?t�ELO����S�TL@eWJRJ'0LOJH� OLBEJC� e� MmS� ?O?RJMm� T� E?Q?� WLDe�@?|CL� CLFGDEJ

oLQLE?'� `O� NmKDe@eFLEJ� CL�m� FEBLEJ� F� MU� TJ@ep� E?� BLT?@MJFmRIC?Q?�CLDGRGCC\�F�DGRLHp�FJBmTLCJH�WGBF?CJ@J�N?RIDIOJ@Jo?�FOL@Jp�S�N?FDELCMmF�FNLR?�@LS|G�.�����W?R?FmO'

#��Z$b%a���"T�TU

=m|�RmDL@Jp�CL�NmFKGCI�FmK�@mDEGWOL�X'p�B?TOJCGCJS�NBJDmR?O7'p�}?�CLRG|LF�K?�QB?@LKJ�/'�b'�XeR?�EeE�OmRIOLCLKM\EI�KF?BmFpomRI�mDEI�TjN?@m|�CJH�CLRG|LRL�N?R\OL@�m�@m�LCJ@�B?KJCL@'�GS� NBJDmR?O� FJoBLRL� D?om� MGCEBLR\� F� @mDEm� X'� \O� FJDeCGCeDELCJMUg�?ToB?�RL�S?Q?�EL�N?FGRL�N?DJRGCe�NB?NL�LCKe'��G�TLWLDmF� NLCeFLCC\� 2?RI}m� EeE� Km\RJ� LOEJFCm� �DE�GRIMJ�� S�?o?B?CL� CLB?K?FL�'� 0LO� DL@?� S� EGNGB� MGS� NBJDmR?O� N?WLFB?o?Ee� NB?EJ� CL�?Q?� NmKNmRR\'�=G�OLCMm� S?Q?� N?WGBGT� DF?�B?KJCJ�FGRJ�B?TFmKOe�N?�CL�JH�DGRLH�TL�BeHL@J�N?FDELCMmFpCLRLKCeFLRJ� TF+\TOJ� Tm� DF?�@J� TG@R\OL@Jp� }?� |JRJ� FeOBL�CDIOJH� DGRLHp� FGRJ� DGBGK� CJH� NB?EJeOBL�CDIOe� L�mELMmUEL�ToJBLRJ�B?TFmKeFLRICm�@LEGBm\RJ'�dGBGT�MGS�NBJDmR?O�WLDE?NB?H?KJRL� CL�L� TF+\TO?FL� RmCm\'�=mDMGFm� ?ToB?fCm� N?RIDIOmWGBF?Cm� o?�FOLBm� DELRJ� C?WL@J� DEG|JEJ� TL� CL�J@JTF+\TOmFM\@J'�_GO?RJ�?oDEBmRUFLRJ��H�DL@mp�L�N?Em@�N?FmK?@R\RJ@mDMGF?DEm�X'�S�6'p� DE\QLUWJ�TFmKEJ�K?N?@?Qep�FBG�Em�B?oJRJTLDmKOJ�CL�N?FDELCMmF'�6?RJ�|�TLDmKOJ�CG�oeR?p�L�TLWeRJp�}?RmD?@�NB?H?K\EI�N?FDELCMmp�TLBLT�ELOJ�N?FmK?@R\RJ�DGR?�/'�_'po?�FOL�\O?Q?�CL@LQLRLD\�E?Km�TL@OCeEJ�NGBGHmK�WGBGT�DGR?'

<GBH?F?KJF�DGBGK�MJH�o?�FOLBmF�DELB�JS�Q?DN?KLB�mT�DF?�@JDJCL@Jp�TFLFD\p�@LoeEIp�/eOLDmfFmW'

7LCCI?U�FGDC?U�Nm�?F�\�FC?Wm�mT�DF?fU�QBeN?U�DNmS@LEJ?KC?Q?� T� EJH�o?�FOLBmFp�}?o�FmK�CI?Q?� KmDELEJ�@LEGBm\RJ�NB?K?FO?RJ�CmH�DGOD?EmFp�}?�CL@�NLO?DEJRJ�CG@LR?'�Pm�@C?U�oeFBmS�o?S?FJOmF'�`�T�_BLNLO?@p�F�N?RIDIOJH�@eCKJBLHp�NmKH?KJ@?NmK� KFGBm'� <?CJ� oeRJ� TLWJCGCmp� S� FmOCL� TLDR?CGCm'�4EeOLU'�<HLEm�DL@G�OmCWLRJ�FLBJEJ�FGWGBU'�_?�KFGBGS�NmKmS�RL�|mCOL�SNJELfg

*�AE?�EL@�

q[.

`�FmKN?FmKLU�N?jN?RIDIOJg*�0eELS�@mRmMm\'�4GBLomC�T�XmBWJ'deU� TLB\K|GCC\� Be�CJMI� EL� NmK?TBmRJS� Q?@mC� e� DmC\Ht

N?WJCLf@?�K?Q?F?BUFLEJD\�WGBGT�KFGBmp�\�DELU�To?Oep�}?o�@GCGCG�?oDEBmR\C?'�<|G�K?H?KJ@?�K?�TQ?KJp�L|�_BLNLO�CG�FJKGB|LFm�DR?FL@Jg��1EOB?Sp�TKfDI�F?fCCm���*�NGBGoJF�CL�e�oLRLWOe'

<�HLEm�TWJCJFD\�OBJO'�:LOLTeU�FmKDEeNJEJ�CL�KG\Oe�FmKKLRIpDEG|JEJ� TL� @LRJ@J� FmO?CM\@Jp� WJ� TFmKEJ� CG� NLKLEJ@eEIN?DEBmRJ�Lo?�WJ�CG�RGEmEJ@G��BLCLEL'�4L@�NmKNLRUU�HLEep�}?oT@eDJEJ�@G�OLCMmF�FEmOLEJ�T�CG�'�ALEL� Q?BJEIp�?DFmEJRL�RmD� mHLEJ�mC�JH�o?�FOLBmF'�dGOLUp�}?o�FJomQRJ�|mCOJ�S�KmEJp�o?�FCLD�oeF�CLOLT�*�NGBGF?KJEJ�LOMm��ELOp�}?o�CG�N?EGBNmRJ�|mCOJWJ�KmEJ'�4EBmR\EJ�N?WJCLU�L|�E?Kmp� O?RJ�|mCOJ�S�KmEJ� T� Emf�HLEJ� FJS�RJ'

<Dm� EBJ� o?�FOLBmp� }?� DJKmRJ� F� EmS� HLEmp� FBLT� mT� Q?BJ}LOJKLUEI�KGOmRIOL��BLCLE'�1KCL�T�CJH�N?BLCJRL�F�QBeKJ�o?S?FJOLX?QKLCL'�0B?f�CL�JH�DEBmRIMmF�FmKC?D\EI�S?Q?�F�RmDp�L�@J�KLRm?oDEBmRUf@?� HLEe� DJRICJ@� F?QCG@'�8RG� o?�FOLBmF� CG� K?D\QRJCL�m� OeRmp� o?� EL@� oeR?� oLQLE?� QRJCJ'� <?CJ� N?TmDOLOeFLRJ� F\@e�FmK�OLBE?NRmp�FHmK�NBJOBJRJ�NRLHE?U�m�DJKmRJ�EL@p�L|�N?OJCG�FNLF�KLH'

0J@� WLD?@� @J� NBJSC\RJ� omS� T� QBeN?U� o?�FOLBmFp� }?NBJS�RJ�CL�K?N?@?Qe'�1NmDR\�FmKDEeNJRJ�F�RmD'

6?RJ�WGBGT�KFL�EJ|Cm�\�K?FmKLFD\p�}?�Mm�o?�FOLBm�|JFm�S@LUEI�EGNGB�OBL}e�ToB?Up�E?�}G�BLT�KmDELF�K?TFmR�FmK�TFGBHCJOmFTCJ}JEJ�EG�CGoGTNGWCG�KR\�CLD�QCmTK?'�Pm�@C?U�Nm�RJ�FD\�@?\QBeNL�S�OmRIOL�DEBmRIMmF�mT�46<�F�DGRm�/'

_?�NBJDmROL�NmKH?KJ@?�FmK�TLH?Ke'�<mK�DE?B?CJ�@mDEGWOL�X'DELFJ@?�TLDELFe�T�OeRG@GE?@'�1KJC�BmS�CLDEeNLf�FmK�NmFC?Wmp�L@?\�QBeNL�Km\EJ@G�mT�TLH?Ke�EL�FKLBJEI�CL�NBJDmR?O�FmK�NmFKC\'6eRG@GE� DELFJ@?� CL� OBLU� RmDep�}?o� OeRG@GECJO� @LF� K?oBGN?RG�?oDEBmRe�F�CLNB\@m�EJH�o?�FOLBmFp�}?�FEmOLEJ@eEI'

:mW'� <NLRJ� NGB�m� N?DEBmRJ� F� DeEJWMm� T� DEmSO?FJ@J'� <|GQ?BJEI'�PLQBLFe�FJKC?�F�RmDmp�F?CL�FmKoJFLfEID\�CL�TLH@LBGC?@eCGom'� _?FO?RL� DEBmR\CJCL'� 2?DEBmRJ� T� Be�CJMIp� WGBQJ� T�NLNL�?O�p� FJoeHJ� �BLCLE'� 4N?WLEOe� F?B?Q� o?B?CJFD\p� LRGpN?oLWJF�Jp�}?�@J�S?Q?�FT\RJ�T�KF?H�o?OmFp�FEmO�K?�RmDe�ELOJomR\�C?DL�OeRG@GECJO?Fmp�FJO?BJDE?FeUWJ�OReoJ�KJ@e'�dLDEJCLo?�FOLBmF�N?H?FLRLD\�N?�OBJ�FOLHp�}?��H�FC?Wm�FL|O?�FmK�eOLEJ'

q[�

0J@�WLD?@�F?B?Q�TmoBLF�DF?�H�RUKGS�F�RmDm�EL�N?WLF�?oDEBmRUFLEJCLD'�PoJBLU�HR?NMmF�m�SKe�CLDEeN?@�CL�RmD'�2mDR\�N+\EJ�HFJRJCo?U� F?B?Q� FEmO� F� CLNB\@m� @mDEGWOL� X'p� TLRJ�JF�J� KGOmRIOLFoJEJH'�5�CLD�FEBLE�CG�oeR?'

<mKE?Km�F?B?Q�}G�Ke|WG�o?\FD\�CLD'�A?KJRJ�F|G�RG�GCKJNB?��DEBL�C?Q?�K?OE?BL�NLBL�eEJDEmF�*�ABmCL�p�\OJ@�FTLf@C?R\OLRJ�DGoG'

���

_?FQ?|KLCL�FGDCL�CLKH?KJRL'�4?C\�Cm�KCmp�EGNRm�FmEBJ�*FJORJOLRJ�N?FDELCMmF�CL�N?R\CJ�F�RmDp�CL� Q?BoOJ�CLK�DGR?@'<?CJ�WGOLRJ�?H?B?CC?��TGRGCmp�\O�KmEJ�NBJH?Ke�@LEGBm'

.w�oGBGTC\�TmoBLFD\�\�T�QBeN?U�FmKH?KJEJ�F�DGR?�='�<HLEm�`C\�TLRJ�JFD\�EmRIOJ�B?S'�de@LO'�V?Q?�TLFKLCC\@�oeR?TLRJ�JEJD\�EeE�CL�@mDMm�S�FEBJ@eFLEJ�TF+\TOJ'�V?@e�XJDEBJSTLRJ�JF��DEBmRICJS�Oeo?O��m�FmDm@��BLCLE'�5|G�CLKF?Bm�}?DI@GCm� OLTLR?� FGBCeEJD\� S� NGBGDEGBGQEJ� B?S?F?Q?p� }?o� FmCWLD?@�CG�oLFJFD\�MJ@J��BLCLEL@J'�AR?NMm�F|G�CL�N?KFmB+�'�`FGBELUD\� K?� HLEJ� S� CLOLTeU� S?@e� CG� BeHLEJ� �DEBmRIC?Q?OeoOL�p� }?o� WLD?@� CG� DELR?D\� \O?Q?DI� FJNLKOe'� 2?jFGBCeF�JDIp�mKe�T�HR?NM\@J'�<|G�FJS�?F�J�TL�DGR?p�N?WeF\� FJoeH'

�?DJRJ�om|e�K?�HLEJ'�6LBEJCL�|LHRJFLg�Om@CLEL�TCJ}GCLpFmOCL�FJBFLCmp�N?Ke�OJp�NGBJCJ�B?TCGDR?�CL�OeDCmp�FJRL@LR?�NmWpNmKCGDR?�DEGRUp�CL��@LEOJ�B?ToJEJS�Oe~GBp�N?FC?�KJ@e�S�N?B?HepL� CL� TG@Rm� RG|JEI� W?BCJSp� \O� FeQ?RIp� N?�@LE?FLCJS�de@LO'XmKCJS� F?\O� CG� N?DReHLF� @GCG'� 6?RJ� \� N?Em@� K?ORLKCm�GNB?DRmK|eFLF�DNBLFep�FJ\FJR?D\p�}?�FmC�FORLF�?KCe��BLCLEe�K?�DEBmRIC?Q?�OeoOL��mp�CG�TCLUWJp�\O����FJSC\EJp�CLEJDCeF�TLOBeWGCe�BLCLEeg� FmK� CG�� FJoeHCeRL�BG�EL� �BLCLE'�aO?KL� oeR?�@GCm� TLCJ@p�o?�MG�F|G�EBGEmS�B?S?FJS�T�WGEFGBE?��W?EJp�\OJS�TLQJCeFpmKGSCJS�F?\Op�*�m�FmKmS�?F�ELO�@LBC?�WGBGT�CG?oGBG|CmDEI'

:L� KBeQJS� KGCI� @J� N?H?FLRJ� de@LOL� omR\� o?S?FJOLX?SOLp� CL� Q?BoOe� NmK� RmD?@'� V?Q?� DGDEBJp� mKGSCm� KmFWLELpTeDEBmWLUWJ�@GCGp�NJELRJp�KG�oBLE'�0L�\�TLF|KJ�NBJH?FeFLFNBLFKep� OL|eWJp� }?� FmC� TLSC\EJS� B?o?E?U'� 2B?DJRJTFmRICJEJ� S?Q?� CL� <GRJO?KCm� DF\EL� K?K?@e'� 0L� WJ� NBJSKGFmC��:G�OL|e�CmW?Q?'''

q[Z

���

P�FGDC?U�N?NBLFR\f@?�@?QJRJ�KBeTmF'�4LKJ@?�F� Q?R?FLHOLRJCep� oGBmTOJp� ?oQ?B?K|ef@?� oGBGT?FJ@J� NLBOLCM\@J� STLRJ�Lf@?� FmRICG�@mDMG� KR\� C?FJH�|GBEF'�AE?� WGBQ?FJS� EeEDN?WJCG�

dLD?@p�FmKFmKeUWJ�Mm�@?QJRJp�F�N?QmKCm�FGW?BJ�EJH?�DNmFLf@?N?FDELCDIOJH�NmDGCIg

A%/�������� ��/������,����/ ����& �����%����R������) &�.)�������) �&���1� �� ������

�U�NmDCU�CLSWLDEm�G�DNmFLRJ�F�D?ECm�OjBL�d?BC?Q?'�6LTLRJp}?�MG����@LB�'

>�}Gg

D���& �������&(� �������/��&��&��/��&����'�&/�&�.)���0�&K��&���1�&��&��&��/��&��,����&����0���./��&���1�/��������%������/�����0����� &�.�(�/����)�&�%��������0������0���)�&���/T�� ��������� ���&��'���)�� ��/��������/D���)�� ��������0���&�

>�CL�TLOmCWGCC\�*�DELBG�DEBmRGMIOG��<JKJ�p�oBLEG�@mS'''�

���

<|G�ELCeRJ�DCmQJ'�2?E?OL@J��e@mRL�@eECL�F?KLp�T@m�LCLT� OBJQL@J� RI?Ke'� _GjCGjKG� W?BCmRJ� CL� N?R\H� DOJoJp� K?B?QJN?FCm�o?R?ELp�B?FJ�|p�\@J�S�F?fCCm�?O?NJ�N?FCm�F?KJ'

<�ELOm�oGBGTCGFm�KCm�NB?F?K|e�N?RI?FJS�FJ�OmR�DF?f��QBeNJS�?KC?Q?�B?\�46<�F�RmDmp�omR\�DGRL�/'�<NBLFJ�FmKoeFLUEID\�F|GEJ|KGCI'�A?We�NBJQ?E?FJEJ�HR?NMmF�K?�o?�F'�2?WJCLf@?�FNBLFJ

q[[

TLF|KJ� ?� YjmS� FBLCMm� T� KF?Q?KJCC?U� ?omK?F?U� NGBGBF?Up� LTLOmCWef@?�F�qwjmS'�2mK�WLD�FJ�O?Re�ORLKe�CLSomRI�e�eFLQe�CLo?S?FG�B?TQ?BELCC\p�FJoJBLCC\�F?QCGFJH�DELC?FJ}p�NmKom|OJpN?DELFep� @LDOeFLCC\p� o?B?EIoe� F� TLoeK?FLCC\Hp� FEBJ@eFLCC\TF+\TOe� F� o?Up�CLDEeNp� FmKDEeNp� DNmFKm\CC\� F?QCUp� DR?F?@p� CLFDG�EGp�}?�CL@�EGNGB�N?EBmoCG'

:G� NL@+\ELU� F|G� KLEJ'� XeF� DRI?ELFJS� oGBGTCGFJS� KGCI'_GDI�oRJTIO?�nj?��FBLCMm�@J�N?WeRJ�N?DEBmRJ�F�DGRm�b'�:L�N?R\HN?OLTLRJD\� FEmOLWm� T� O?B?FL@Jp� OmCI@Jt� NGBGR\OLCm�|mCOJ� SW?R?FmOJ�om|LEI�HE?�OeKJg�?KCm�K?�RmDep�mC�m�*�F�DeDmKCm�DGRL'dGBF?CL�N?RIDIOL�o?�FOL�CLNLRL�CL�DGR?'� 9H�oLQLE?�S�OL|eEIp}?� FD\� @mRmMm\� T� DmR� <'p� 6'p� /'p� /'� _'� m� @mDEGWOL� X'� EL� mC�JHo?�FOLBDIOJH� QCmTK'� XeKG� �H� T� .��'� 2BJ�HLRJ� T� EBJKM\EI@LNmKF?KL@Jp�CL�\OJH�ToJBLUEID\�FJF?TJEJ�N?QBLo?FLCG�@LSC?p�@�KR\�?H?B?CJ�NBJS�RJ�.���W?R?FmO�N?RIDIO?Q?�FmSDIOL'

<JDJRLU� B?TFmKeFLWmFp�}?o� NBJCGDRJ� FmDEmp�}?� KmfEID\� FDGRm'� <GBELUEID\� DO?B?� S� ?N?FmKLUEIp� }?� EL@� QBLoeUEI� mFoJFLUEI�CL�JH�DGR\C'�P�CJ@J�NBJH?KJEI�|mCOL'

<� DGRm� N?R\OJ� QBLoeUEI� FDGp� }?� �@� N?NLKG� NmK� BeOJpB?TN?FmKLRL�F?CL'�PLDEBmRJRJ�F|G�KGOmRIO?H�W?R?FmOmFp�oLQLEI?HN?oJRJ�K?�OB?FJp� L� EGNGB�NBJF+\TLRJ�KGF+\EI?H�K?�DE?FNmFp� LmC�J@� KGF+\EI?@� OL|eEI� oJEJ'� 6?RJ�|� Mm� FmK@?FJRJD\p� �HN?oJRJp�FmKF+\TLRJ�EBI?H�m�OLTLRJ�oJEJ��mDEI?H�mC�JHp�m�ELO�CLT@mCe'

*�XmS�K?o|Gp�o?�\O�Cf�oGCKTf��omRp�E?�Mf�TLDE�GRm@J'�_LS@e�K?oB?F�5OBL�CG�

0LO�NBJQ?F?BUUWJp�EBJ@LRJ�MmFOJ�Be�CJMI�NBJ�Q?R?FLHEJHp�}?�oJRJ'�_G\Om�DOLE?FLCm�N?@GBRJ�NBJ�DE?FNLH'

2mK�WLD�MI?Q?�?N?FmKLCC\�FmK�DGRL�K?RmELUEI�K?�CLD�OBJOJ�mT?SOJ'

PoJBLU�HR?NMmF�e�RLFep�NGBGN?FmKLU��@�DR?FL�|mCOJ�S�OL|eDReHLEJ�T?SOmF��T�DGRL'

*�>KG@?p�HR?NMmp�oJEJp�H?W��H�W?EJBJDELp�L�CLD�EBJKM\EI�Dm@�*�>KG@?��*�TLOBJWLRJ�FDm�QeBE?@'_?� CLD� K?ReWLUEID\� �LTKLj1BLWp� 4?REJD� S� mC�m'�=Lf@?

KFL� OeRG@GEJ'�2J�e� TLNJDOe� K?�2?ELNLp�}?o� S?Q?� QBeNL� S46<�T�DGRL�`'�CLDEeNLRJ�T�NB?EJRG|C?Q?�o?Oe'�bmCGMI�CL�O?CmN?�HLF'�=J� ?oFLCEL|ef@?� DGoG� �BLCLEL@J� S� L@eCmMmfU� ELFJBe�Lf@?'

q[Y

:L�e� QBeNe� B?TKmRUU� CL� EBJ� WLDEJCJg� NGB�JS� BmS� NmKO?@LCKeFLCC\@�1DEB?FGBHL�NmKmSKG�BmWO?U�m�FKLBJEI�CL�NGB�mHLEJ�K?Rm�CI?Q?�OmCM\t�KBeQL�QBeNL�Tm�@C?U�FKLBJEI�CL�RmD?O�mpTLSC\F�J�S?Q?p�NmKG�CLDEeN?@�CL�DGBGKJCe�K?Rm�CI?Q?�OmCM\tEBGE\�QBeNL�T�1BLWG@�NmKDeCGEID\�N?E?O?@�K?�DGBGKJCJ�DGRL�SEL@�eKLBJEI'�XGBG@?�EmRIOJ�N?R?FJCe�DGRLp�o?�CG�@Lf@?�omRI�GDJR'�5@?FRGC?�TCLO�T�QBeN?U'�<?CJ�@LUEI�FKLBJEJ�CL�DGBGKJCeS�CL�Q?Bm�CmS�OmCGMI�DGRL'

<BLT�NBJ�|K|Lf�TF+\TO?FJS�FmK�2?ELNLp�}?�B?T@JCeFD\�TCL�J@p�}?o�@J�CLDEeNLRJ�CL�K?Rm�CmS�OmCGMIp�L�QBeNL�DGRL�`'CLDEeNLEJ@G�CL�K?Rm�CmS�m�DGBGKJCe'�0LO�E?�F�CLD�?KC?WLDC?TLB?KJRLD\� ?KCL� Ke@OL�*� o?B?CJEJ� DGR?'� �J@� OeB+fB?@NGBGKLU�}G�?KCe�TLNJDOep�N?FmK?@R\Up�}?�@J�F|G�CLDEeNLf@?'

5�wjmS�FBLCMm�@J�N?WLRJ�CLDEeN'�<?B?Q�oGTNGWCJS�*�CLFmEICG�N?DELFJF�DEmS?O'�=J�NmKDeCeRJD\�CL�@GEBmF�KFmDEm�m�FmKOBJRJDJRICJS� F?Q?CI� T� eDmf�� ToB?�'� 1DEB?FGBH� TLFT\E?� o+fEID\� TLK?Rm�Cm�HLEJp�NGBGH?KJEI�FoBmK�BmWOe�T�OBJQL@J�*�F?KL�@LS|GN?��JUp�*�L�@J�TL�E?S�WLD�?NLCeFLRJ�RmD?O'�=m|�WGBF?CJ@JN?R\OL@J�TBLTe�TL@m�LCC\g�?KCm�FEmOLUEI�K?�HLE�@m|�MJFmRICGCLDGRGCC\p� mC�m� TCm@LUEI� T� F?TmF� �@LODJ@J�p� TLR\QLUEI� @m|DE?DL@J� KB?Fp� omR\� oGE?C?FJH� OBJCJMIp� TL� HLEL@Jp� F� B?FLH� mNBJS@LUEI�omS'�<?B?Q�DJNCeF�T�OeRG@GEmF�Ke|G�DJRICJ@�F?QCG@ELOp�}?�@J�FRLTJ@?�K?�?O?NmFp�N?FCJH�F?KJp�TFmKOJ�FNB?K?F|N+\ECLKM\EJ�HFJRJC�FGKG@?�omS'�:L��OeR'�P?B\CJS�e�KF?o?UTCJ}JF�F?B?|?Q?�OeRG@GECJOLt�@J�FNGBE?�NB?DeFLf@?D\�KLRm':LOLTeU� OeRG@GECJO?Fm� N?DEmSC?� T@mCUFLEJ� DELC?FJ}Gp� o?O?RJ�TL@?FOCG�CL��OeRG@GEp�@J�NB?QBLf@?'�<?B?Q�FGKG�F?Q?CI}?CLS@GC�G�N+\ECLKM\EI@L� OeRG@GEL@J'�:LK� BmWO?U�F� \@LHpKG�DGR\CJ�oBLRJ�QRJCep�TLS@Lf@?�DELC?FJ}Lp�L�1DEB?FGBH�FNGBE?TK?oeFLf� HLEe� TL� HLE?U'� XmS� E\QCGEID\� F|G� W?EJBJ� Q?KJCJ'2?R\OJ�EBJ@LUEID\�FNGBE?'

<BLT�FKLBJF�mT�DF?fU�QBeN?U�1BLW'�2?R\OJ�Ke@LRJp�}?�MG��@K?N?@?QL� mT� DGRL�7'�1BLW�CLFmEI� oBLF� e� N?R\OL��?@N?RLp�}?oFJoJEJ�CLomS� T�=2p� L� N?Em@� DO?DJF�S?Q?'��GS� eKLBp� EBGEmS� TWGBQJ�CL�EBGEI?@e�FmKEJCOep�DNLCmOeFLF�F?B?QLp�m�E?S�N?WLF�eEmOLEJ'

>KG@?�CLDEeN?@'�dGBGT�ORLKOe�NGBGomQLUEI�N?R\OJp�L�@J��HFJDEBmRUf@?'�2LKLUEI�e�F?Kep�BLCGCm�S�EBeNJ�NRJFeEI�F?K?U'5�CLD�FDm�TK?B?Fm'�:L�Q?BLH�FmK�DGRL�`'�WeEJ�OBJOJ��4RLFL���mN?DEBmRJ'�<mDEOLp�}?�DGR?�̀ '�mKG�CL�K?N?@?Qep�NmKCGDRL�DEBmRIMmFp

q[n

m�@J�FDm�Be�JRJ�F�CLDEeN'��GCG@?�F?B?QL�K?�N?R?FJCJ�DGRL'P?B\CJSp�CG�@LUWJ�K?oB?Q?�DELC?FJ}Lp�ORLKG�OeRG@GE�CL�NRGWmXJDEB?@e� m� o+f� CLFTK?QmC'� :LDGRGCC\� mT� DRI?TL@J� F� ?WLHoRLQ?DR?FJEI� CLD'��mCOJ� FJC?D\EI� @?R?O?p� o?� F� O?|C?Q?DNBLQLp�FDm�@J�TLo?R?WGCm�m�@?OBm�K?�CJEOJ'�amDEI?@�Q?DN?KLB\@omR\�DE?FNmF�@J�FB\EeFLRJ�|JEE\'

0J@�WLD?@�QBeNL�T�DGRL�`'�CG�FmBJRL�F�EGp�}?�@J�F|G�ELOKLRGO?�N?QCLRJ�N?R\OmFt� DEBmRIMm� FmKOBJRJ�N?�CLD�F?Q?CI'�:GK?N?@LQLRJ�e@?FRGCm�TCLOJp�Cm�CLFmEI� m�EGp�}?�\�TC\F� mT�DGoGD?B?WOe�m�@LHLFp�}?oJ�F?CJ�NGBGDELRJ�DEBmR\EJ'

=J�DF?f�TB?oJRJ'��?o�?@JCeEJ�CGN?B?Te@mCC\�m�|GBEFJp@?|G@?�EGNGB�FmKmSEJ'

<?B?Q� @LF� Dm@?H� eoJEJHp� .w� N?BLCGCJH'� 5� CLD�*� ?KJCBLCGCJS�F�N+\Eep�mT�46<'

:LDGRGCC\�K?FO?RJ�CmH�DmR�NGBGN?FmKLf�D?om�NGBGomRI�GC?NB?�FEBLEJ�F?B?QL�EL�S?Q?�NLCmOe'

<mK� DI?Q?KCm� F?B?Q� K?FQ?� CG� N?OLTeFLFD\� CL� DGRL'��?o?NBLFKLEJ� DF?U� QLCGoCe� FEGWep� @m|� CLDGRGCC\@� ?N?FmKLUEIpoeMm@E?� CL� DGR?� b'� CLDEeNLR?� FmDm@� EJD\W� N?FDELCMmF'PLLR\B@?FLCm�@mDEL�2GBG@J�RI�m�4\CmO�NBJDRLRJ�K?N?@?Qe�EL?H?B?Ce�F?B?|J@�QCmTKL@'�:L�MI?@e�FmKEJCOe�CL�?Q?�EGBGCeN?WLRLDI�EGNGB��DL@?DEmSCmDEI�'

<� N?RIDIOJH� DGRLH� T@mMCGC?� DEmSOJp� KGCI� m� CmW� Q?B\EIF?QCJ}Lp�OJKLUEI�K?�CJH�DEBmRICLp�DEBmR\UEI�T�BLOGEp�Be�CJMIpOeRG@GEmFp�}?o�CLD�FmKDEBL�eFLEJ'�d?R?FmOJ�FmK�qY�B?OmF�|JEE\FT\RJD\�TL�ToB?U'�=LR?�HE?�DNJEI�FC?Wmp�C?WL@J�NGBGDJK|eUEI?K\QCGCmp�@LSC?�S�HeK?oe�FJF?T\EI�TL�4\C'�_GHE?�FEmO�K?�@mDE'<� N?RIDIOJH� DGRLH� N?WJCLUEID\� CGN?B?Te@mCC\'� 4N?OmSCmQ?DN?KLBm�CLBmOLUEI�CL�DF?��WGBF?Cm�o?�FOJp�DL@m�NmKOBGDRUUEIp}?�MG�Em�QBLoeUEI�m�FoJFLUEIp�TLWmNLUEI�DN?OmSCG�CLDGRGCC\pL�EGNGB�F?CJ�CG�@?|eEI�DN?OmSC?�DJKmEJ�e�DF?�H�DGRLH'

=J�H?W�@LRJ��mDEI�Q?KJC�o?Up�}G�@?OBm�S�TLo?R?WGCmp�TNmDCGU�@LB�ef@?�WGBGT�DGR?�0'�K?�DGRL�`'p�eN?fCm�NGBG@?Q?U'PF+\Tef@?D\�T�2?ELN?@�F�HLEm�CL�N?Rm�N?@m|�DGRL@J�b'�m�`'p�KGeORLKLf@?�NR\C� FmKNRLEC?�� LOMm�� eFGW?Bm� F� DGRm� b'� NB?EJ� EJHpHE?�K?N?@LQLF�oLCKJEL@�e��HCmS�B?o?Em�F�MI?@e�DGRm'

<FGW?Bm�?E?Wef@?�DGR?�b'�4EBmR\f@?�DEmRIOJ�|�?ToB?fCJHWGBF?CJH�o?�FOLBmFp� DOmRIOJ� TLQJCeR?�CL�JH� DGR\Cp� m� NLRJ@?DEmRIOJ�HLEp�DOmRIOJ�TQ?BmR?�CL�JH'�<DUKJ�Q?F?BJ@?�\DC?p�}?

q[w

MG�FmKNRLEL�TL�CLNLKp�TL�N?@?BK?FLCJH�CL�JH�DGR\Cp�TL�DNLRGCmCL�m�HLEJ� m�TL�N?QBLo?FLCG�CL�G�@LSC?'�6L|G@?�NGBGOLTLEJo?�FOLB\@p� }?� FmK� DI?Q?KCm� TL� O?|CG� FoJFDEF?� oeKG@?FmKNRLWeFLEJ�FoJFDEF?@p�TL�NmKNLR�*�NmKNLR?@'

X?�FOLBDIOG�QCmTK?�<'p�Q?R?FCJS�?BQLCmTLE?B�CLNLKe�CL�DGR?b'p�Mmf��C?Wm�CG�DNLR?p�DN?KmFLUWJD\�FmKNRLEJ'

<|G�DFmELR?p�O?RJ�@J�N?FGBELRJD\�K?�DGRL�/'�<?\OJ�FmKWeRJp\O�NBJf@C?�oeEJ�?o?B?CMG@�DF?�H�oBLEmF'�0LOm�OLBEJCJp�}?��H�@JoLWJRJ�F�MI?@e�o?U�m�NmDR\�CI?Q?p�CG�TLEJBLUEID\�F�NL@+\Em�CmO?RJ'

1DI�@Jp�NB?QCLF�J�F?B?QLp�K?omQLf@?�K?�DE?FNmFp�K?�\OJHNBJF+\TLCm�DGR\CJ'�<?CJ�DOLE?FLCmp�TLOBJFLFRGCmp�T�?Ne}GCJ@JQ?R?FL@J� WGOLUEI� DF?f�� D@GBEJp� L� EeE� oLWLEI� N?B\EeC?O'XLQCGEL@J�B?TBmTef@?��CeBJ�S�OBJWJ@?g

*�XBLEGp�EJ�F|G�FmRICJS�0L�FmC�CG�FmBJEI'�8�N?Em@p�eDFmK?@JF�J�D?omp�}?�@J�S?Q?

FB\EeFLRJp�NLKLf�CL@�K?�CmQ�m�MmRef�TLo?R?WGCJS�W?omE'2mKCm@LU�S?Q?p�FGKe�F�HLEe�S�OL|e�CG�B?oJEJ�MI?Q?p�o?

@J�DN?FC\f@?�EmRIOJ�?o?F+\T?O�eOBL�CDIO?Q?�F?\OL'�=LRm�KmEJEL� �HC\� @LEJ� CG� @LUEI� DRmF� N?K\OJ'�1KCL� KJEJCL� KLf� OeD?OHRmoLp�KBeQL�\SMGp�L�@LRG�OBJWJEIg��:GCI?�CL���

<�BeOLH�TLo?R?WGCL�ToB?\p�NmE�m�QB\TUOL�OeDLf�QBeKIp�NGWeEI?Wmp� L� @J� Ke|J@� OB?O?@�@LB�ef@?� DGR?@'�4ELBGCIOm�|mCOJoRLQ?DR?FR\UEI� CLD� ?oBLTL@Jp� KLUEI� CL� �JU� @GKLRJOJpNBJQ?F?BUUWJg��X?|Gp�E?�0J��H�CL@�NmDRLF��

<mKKLf@?� N?QBLo?FLCG� @LSC?p� FmKKLf@?� fKJCe� NLBeWGBGFJOmFp�e�\OJH�H?KJEI�FTJ@m�MmRL�B?KJCL�CL�T@mCep�FmKKLf@??DELCCmS� OeDCJO� N?R?ECLp� \OJ@�CLOBJFLRJ� DEmR� e�4F\EjFGWmBtFDG� N?QBLoeFLRJ� oeRJ� o?RI�GFJMIOm� CLS@LCMmp� DNmFoeKmFCJWm�CLB?KC?�� KG@?OBLEm��'

>�WJ�CG�}LDE\�oeEJ�F�ELOe�HFJRJCe�F?\O?@�528�S�oJEJ�F?B?QL�

���

0mRIOJ�@J�Be�JRJDI�m�NB?�CLD�TLQ?F?BJRJ�DGRLp�\O�NBJS�RLFmDEOLp�}?�omR\�6BLDmWJCL�W?E'�4eHJSj6BJRLW�N?oJF�oLCKJEmF'AE?DI�?oDEBmR\F�F�E?@e�|�WLDm�EG|�oLCKe�T�7Jo?EJW'

<mKFL|CJS� W?E?FJSp� NDGFK?� S?Q?p� TKLfEID\p� XeOp� eWJEGRImT�4HmKCJH�PG@GRIp�N?oJF�ELO?|�oLCKJEmF�F�DGRm�b'�2mTCm�G�FmCTLQJCeF�FmK�N?RIDIO?Q?�DEBmRICLp�}?�TLoReOLCG�TLRGEmR?�F�RmD�mN?NLR?�S?@e�NB?DE?�F�QBeKJ'

q[k

PL�OmRIOL�KCmF�mKG@?�CL�TLDmKOe�@m|�DGRL�0'�S�<'p�}?o�EL@N?oJEJ�o?�FOLBmFp�\Om�NGBG�TKJEJ@eEI�T�<?SEO?FJ�K?�6eTI@JCJ'PG@R\�}G�H?R?KCLp� DJBL�S�@?OBLt�@J�NB?RG|LRJ�MmRJS�KGCIpLRG�F?B?Q�MmfU�K?B?Q?U�CG�NGBG�TKJF'

���

0GNGBp�NmDR\�o?U�F�DGRm�b'p�F|G�CmHE?�CG�OBJEJOeFLFp�W?@e\�CLoBLF� ELO� oLQLE?� DEBmRIMmF'� Pm� DGRL�/'� TLoJBLU� K?� o?�FOJDELB�?Q?�F|G�FmO?@p�LRG�FmKFL|C?Q?�6LRJCep�B?K?@�mT�4HmKCJHPG@GRIp��eNLOLp�}?�oeF�e�N?RIDIOmS�OmCC?Emp�0?N?RU�T�DGRL�/'pL�T�DGRL�='�*�XJDEB?Q?��KF?UBmKC?Q?�oBLEL�d@mR\��EL�}G�?KC?Q?p}?�NmTCm�G�N?@GB�CL�TLNLRGCC\�RGQGCmF�m�N?H?FLCJS�e�XBJ|LFmCL�ORLK?FJ}m'�2?H?B?C�MGS�FmKoeFD\�FGRJWLF?p�NBJ�DNmFeWLDEmMmR?Q?� FmKKmRe� S� WJDRGCC?Q?� CLDGRGCC\'�=GCm� FJNLR?� DOLTLEJNB?}LRICG�DR?F?'

���

2GBGH?K\WJ�DGRL@J�S�DRmKOeUWJ�TL�F?B?Q?@p�TLH?KJRJ�@JK?�HLEp�}?o�N?B?T@?FR\EJ�T�DGR\CL@J�S�FJWeEJ��HCm�oL|LCC\EL� FJ\DCJEJ� CL�m� TLFKLCC\'��G� FJQR\KLR?� CmoJ� �H?K|GCC\� TO?R\K?U�p�?KCLWG�ELOG�FmKFmKeFLCC\�O?|C?��N?�WGBTm�HLEJ�KLFLR?CL@�oLQLE?g�@J�NmTCLFLRJ�CLDEB?��S�Ke@OJ�DGR\C'

���

<� DGRm� /'� NmKC\RJ� Q?R?Fe� O?RJ�Cm� �DE�GRIMJ�� S� N?RmML�'<?CJ�DELRJ�EGB?BJTeFLEJ�eOBL�CDIOG�CLDGRGCC\�F�DGRLH�_'�m�b'6mRIO?H�@mDMGFJH�eOBL�CDIOJH�DGR\C�LBG�EeFLRJ�S�N?oJRJp�OBm@E?Q?p�FGRJ�B?TFmKOe�TL�BeH?@�CL�?��QBeNJ�F�DGRLH�6'�m�0'

1KCmf��C?Wm�\�TeDEBmFD\�CL�To?BLH�T�QB?@LK\CL@J�DGRL�/'<?CJ� B?TN?FmRJ� @GCm��JB?O?� NB?� QBLoG|m� S� CLDJRR\p�}?� �HWJC\EI�oLCKJEJp�EL�NB?DJRJ�@GCG�NB?�?H?B?Ce'

2B?WJ}ef@?�DGR?p�?D?oRJF?�Q?Bm�CmS�OmCGMIp�m�?ToB?fCJHo?�FOLBmF�TCG�OmKRJFRUf@?'�0BGoL�oeR?�N?DNm�LEJp�o?�DGR?�NBJoJEm@��R\Hep�\OJ@�WLDE?�NB?�TK\EI�o?RI�GFJMIOm�@L�JCJ'

5� @m|WLDm�=GKFmKIp� ?KJC� mT� CLSFmKFL|Cm�JHp� NBJCmD� CLNRGWLH�RmEeCDIO?Q?�OeRG@GELp�}?�FmKWGNJF�FmK�RmELOL'�:L�|LRIpM\� ToB?\� KR\� CLD� CGNBJKLECLp� o?� CLo?�� MI?Q?� OeRG@GELFJNLRUFLRJD\�TL�K?N?@?Q?U�GRGOEBJWC?Q?�DEBe@e'

qY�

=GCm�EBLNJRLD\�NBJQ?KL'�<�o?U�T�o?RI�GFJOL@J�F�DGRm�0'}G� .�� FGBGDC\� @JCeR?Q?� B?Oe� N?NLF� @GCm� F� DNJCe� FmKRL@?O�BLCLEJ'� 0GNGB� NmKmS�?F� @GCm� NmK��OmBep� DmDEJ� CG� @?|e'� `N?NB?DJF� DLCmELB\p�}?o� FJSC\F� S?Q?'� 2mK� WLD� Mmf�� ?NGBLMm�CGDN?KmFLC?�FKLBJRJ�CL�CLD�N?R\OJ'�2?WLRLD\�NGBGDEBmROLt�\DL@�CG�@mQ�TL}GNJEJ��ELCmFp�o?�@?\�NBLFL�BeOL�}G�oGTFRLKCLpRmF?U�FH?NJF�224'� >� ELOp� EBJ@LUWJ�F�BeOLH��ELCJp� \�@eDmFFT\EJ�eWLDEI�e�o?U'

���

2GBGK� <GRJO?KCG@� SKG@?� FmKFmKLEJ� QBGO?jOLE?RJMIO?Q?DF\}GCJOL� F� DGRm� _'� A?WG@?� CL� FRLDCm� ?Wm� N?oLWJEJp� \ON?QBLoeFLRJ� EG� DGR?� o?�FOLBm� T�=BJQR?KL'�=LS|G� FNB?K?F|MmR?Q?� oGBGTC\� F?CJ� CLNLKLRJ� CL� MG� DGR?� S� ?oWJDEJRJ� S?Q?K?ORLKC?�FmK�OeBGSp�DFJCGSp�HeK?oJp�O?CGSp�FeRJOmFp�Tom||\�S?K\Qe'

_?FmKeUD\p�}?� N?� DGRLH� N?DELRJ� DL@??o?B?CCm� FmKKmRJp�O?RGCm�2LDEGBCLO?@�m�OjB?@�bB?@GCO?@'

2BJS�RL�<GRJO?KC\�CGKmR\'�:L�L�QBeNLp�@mDMGFG�46<�ELmC�m�N?FDELCMm�Nm�RJ�K?�DGRL�6'�CL�X?Q?DRe|oe'�<�KG\OmS�FmKKLRmFmK�MGBOFJ�DELFRU�T�KF?H�DE?BmC�TLDELFJp�NmK�MGBOF?U�*�DEmSOepm�FDm�FH?KJ@?�K?�MGBOFJ'�:L�Ke�m�\O?DI�ELO�KJFC?p�DF\EO?F?pHFJRJCL@J�BLKmDC?p�L�HFJRJCL@J�De@C?'�1oRJWW\�@GCm�TCLO?@m'XLWe�EeE�DGR\C�ELO?|�T�DGRL�<'p�6'p�7'�EL�KGOmRIOL�|mC?O�m�KmFWLET�DGRL�6'

4GR?� 6'� oeR?� O?RJDI� �@?DOF?~mRIDIOJ@�p� LRG� T� WLD?@pTLFK\OJ�@mDMGFJ@�Km\WL@p�CLMm?CLRIC?�?DFmK?@JR?DI'�:L�FGDCePLN?B?|GMI� T?BQLCmTeFLF�46<'� <mC� TLQJCeF� CGKLFC?� BLT?@� TD?REJD?@�NmK�WLD�CLDO?Oe�WGBF?C?��N?RIDIO?��o?�FOJ'

2mDR\� X?Q?DRe|oJ� FJQ?R?�eU� K?� CLDGRGCC\� NB?@?Fep� LDEBmRIMm� TLDNmFLRJ� KGOmRIOL� N?FDELCDIOJH� NmDGCI'�:LDGRGCC\TLK?F?RGCGp�}?� oLWJR?� DF?�H� ?o?B?CMmFp� m� B?TQR\KLUWJDI� N?Q?BLHp� WJ� CG� SKG� F?B?Qp� FGBELR?D\� K?� HLE'� bBLRJ� F?DOBGDCmKTF?CJp�m�NRJRJ�OeKJDI�KLRGO?�F�RmDJ��HCm�BLKmDCm�E?CJ'

PeDEBmWLU� EeE� DF?�H� K?B?QJH'� 2mKH?KJEI�=LBeD\� 2'� S?N?FmKLf� NB?� TFmBDEFL� OeTI@JCDIOJH� o?�FOLBmF'�2B?� EGp�}?� \Nm�?F� e� N?FDELCMmp� F|G� K?FmKLRJDIp� LRG� CG� TCLUEIp� \OG� @?fNDGFK?'�2?RIDIOm�KmEJ�oJRJ�S�O?NLRJ�@?U�@LRGCIOe�K?WOe�/mRUEL�NJELRJp�KG����ELE?'�XmKCL�KJEJCLp�NRLWeWJp�FmKN?FmKLRLg

qYq

*�:G�oJSp�\�F|G�ELEL�CG�@LU'�_GDI�Nm�?Fp�m�\�CG�TCLU�KG'''8�O?RJ�FGBELRLD\�K?�HLEJp�NRLOLRL�NGBGK�@L@?Up�NJELUWJ

��p�KG�ELE?g*�d?@e� FmC� CG� NBJSKGp� CG� ?o?B?CJEI� @GCG�� <mC� NGFC?

F|G�CG�RUoJEI�/mRU'''0L�@LEJ�o?\RLD\�DOLTLEJp�}?�ELE?�F�N?FDELCM\Hp�}?o�KJEJCL

CG� FJQ?F?BJRLDI'� PCe}LCC\� CLK� @LRGCIO?U� KmFWJCO?UN?FE?BUFLRJD\�CG�BLT'�<?CL�N?CGF?Rm�FmKN?FmKLRL�TL�DF?Q?�oLEIOL'0L�WJ�K?WGOLfEID\�F?CL�S?Q?�N?FGBCGCC\�''

2B?}Lf@?DI'� >� TC?Fe� N?R\@J� S� RmD?F?U� DEG|O?U�SKG@?CL�DGR?�/'�<GRJO?KCf�D?CGWO?�MmReFLR?�TG@RUt�DOBmTI�@LS?BmRJDEB?��DF\EO?F?�?K\QCGCJH�DGR\C'

<�HLEm�4EL�OL�X?QKLCL�NBJQ?E?FJRL� DNmRICG� DF\WGCG�KR\@?f��QBeNJ�EL�KR\�@mDMGF?��@?R?Km'�PLDmKLf@?�DNmRIC?�TL�QLBC?CLOBJEm� DE?RJ� S� KmRJ@?D\� DF\WGCJ@� \SMG@'� <� B?KJCCmSLE@?D~GBm�NB?H?KJF�KGCI'

<�DL@m�DF\EL�o?�FOLBm�EG|�CLNLKLRJ�CL�DGRL'�4N?KmFLUWJDIp}?�CLNLKeEI�CL�DGR?�6'p�mKG@?�CL�S?Q?�?o?B?Ce'�8RG�F?B?Q�CGNBJS�?F'

:L�KBeQJS�KGCI�<GRJO?KCmH�DF\E�FmKFmKef@?�oLEIOL�N?R\QR?Q?PLN?B?|M\'�<DEeNLf@?�EG|�K?�@mDMGF?Q?�NLB?HL'�<mC�TLNJEefp}?�S?@e�B?oJEJp�WGOLf�KC\p�O?RJ�o?�FOLBm�NBJSKeEI�S?Q?�FoJEJ'_?� 6eTI@JCJ� F|G� o?�EID\� SEJ� FmKNBLFR\EJ� X?Q?DRe|oep� o?@mDMGFm�N?R\OJ�NR\CeUEI�FmKmoBLEJ�MGBOFe'

:L� EBGEmS� KGCI� mKG@?� FmKFmKLEJ� CL�e� DELBGCIOe� �@L@e�pQ?DN?KJCU�6eRLO?Fep�}?�WGOLf�Tm�DF\WGCJ@'�0L�CG�N?oeRJ�@JS� Q?KJCJp� \O� e|G� NB?DJEI� bBJMIp� CL@?FR\f� K?� DGoG��eBO?pNGBGO?Cef�2?N?FJWp�m��GNWG�bLCCeD\'�>KG@?�K?�FDmH'�PLDNmFLf@?�@��ABJDE?D�<?DOBGD�p�L�NmDR\�N?ReKC\�SKG@?�K?�DGRL�_'p�KG�CLDEG|�WGOLUEI'

�VUT_��ZT�R�U$��]�cR� ����$��`UV�Y

<�NGB�mS�N?R?FJCm�oGBGTC\�qkZ[�B?Oe�OFLBEJBeU�T�@?�@FmKKmR?@�F�DGRm�/'�1KC?Q?�BLCOe�NBJH?KJEI�K?�@GCG�2LDEGBCLOj4ELBJS� T� N?FmK?@RGCC\@p� }?o� \� CGQLSC?� TQ?R?DJFD\� FOjBL�6?CJOL'�<mDEOL�M\�oeRL�KR\�@GCG�CGDN?KmFLCL'�6?@LCKJBL6?CJOL�F�EGBGCm��@J�FDm�RUoJRJ�S�N?FL|LRJ�TL�S?Q?�ELOE?FCmDEIpKBe|CmDEIp�DOB?@CmDEI� m�WGDCmDEI'

qY.

2?NBLFR\U� CL� D?om� ?K\Qp� TLH?K|e� F� HLEep� TQ?R?�eUD\'6?@LCKJB�FDELFp�NmKmS�?F�K?�@GCGp�RGQO?�N?KLF�BeOep�}?o�CGFBLTJEJ�@?�H�TQ?�Cp�m�N?NB?DJF�DmKLEJ'�<�HLEm�CG�oeR?�CmO?Q?'

*�0GNGBp�@?|Gp�TLOeBJ@?p�*�OL|G'*�P�?H?E?Up�\O}?�@?|CL'*�8RG�\�CG�@LU�}?'''<JE\QLU�DF?U�EUEUC\BOe�S�NB?�e�TLOeBJEJ'�<mC�CLNGBGK

TB?oJF�MJQLBOe�@GCmp�N?KLFp�L�?NmDR\�DL@�TLOeBJF'�6mRIM\�KJ@eO?EJRJD\� N?� DE?Rm� m� Nm�RJ� OeKJDI� NmK� N?RJMU'� 1oRJWW\O?@LCKJBL�DN?FL|CmR?p�FmC�N?NBLFJF�BeO?U�BeKJS�FeDp�N?Ke@LFHFJRJCe�m�DOLTLFp�W?@e�@GCG�NBJORJOLF'

V�R?D\� NB?� WGBF?CG� o?�FOLBDIOG� DGR?� X?BmFCJMU'� 0L@OFLBEJBeFLRL� ?ToB?fCL� oLCKL� 4RfN?Q?p� DORLKGCL� T� eDI?Q?o?fTKLEC?Q?� GRG@GCEe� MI?Q?� DGRL'� X?�FOL� M\� WJCJRL�|LHRJFmFoJFDEFL�DGBGK�CGFJCC?Q?�CLDGRGCC\p�NLRJRL�eOBL�CDIOm�DGRLpoeRL�FJCCL�D@GBEJ�D?EGCI�OLE?FLCJH�RUKGS'

2?R?|GCL�@m|� RmDL@Jp� X?BmFCJM\� oeRL� K?oBG� eOBmNRGCL'1oFGKGCL� ?O?NL@Jp� T� oeCOGBL@J� FDGBGKJCmp� T� FJD?OJ@J?oDGBFLMmSCJ@J� FG|L@J'� 0FGBKJC\� TLE\E?Q?��?FmCmT@e� @m|XmBWGUp� _eoGMIO?@� m� 4\C?O?@'� PL� CL�J@J� mC~?B@LMm\@JpToB?SCm�DJRJ�MI?Q?�DGRL�DORLKLRJD\�T�DNGMo?�FOJ�*����W?R?FmOp=1�*�n��W?R?FmO�m�O?R?�EBI?HD?E�W?R?FmO�@e|FJ'�4GR?�@LR?@LS|G�Z��OeRG@GEmFp�RGQOJH�m�FL|OJHp�@mC?@GEJp�oLQLE?�L@eCmMm�S� �BLCLE'� 0eE� NmK� WLD� B?TFLRe� 2?RI}m� B?TToB?�FD\� ?KJCN?RIDIOJS� N?ROp� L� S?Q?� O?@LCKJBJ� NGBGKLRJ� FDU� ToB?U@mDMGFJ@� N?R\OL@'� 0m� FJ\FJRJD\� Ke|G� F?S?FCJWm� S� }G� TLCm@GMIO?��?OeNLMm��TB?oJRJ�DNmRIC?�T�o?�FO?U�T�_GR\Q?FJ�CLDO?OCL�eOBL�CDIOe�N?RmMmU�F�`FmBCJOe�7eDIOm@'

0GNGB�O?@LCKLCE?@�Emf��o?�FOJ�oeF�o?RI�GFJMIOJS�NLBEJTLC4RfNJS'�P�NBJH?K?@�DUKJ�o?RI�GFJOmF�m�N?RIDIO?jo?RI�GFJMIO?�FRLKJ� o?�FOL� 4RfN?Q?� FDRLFJRLD\� oLQLEI?@L� EGB?BJDEJWC?jQBLoeCO?FJ@J�CLNLKL@J�CL�K?FO?RJ�Cm�CL�m�DGRL'

*�6?@LCKeFLCC\� WLDEJC� 528�2GBG@J}JCJp�*� TL\FJF@GCm�OjB�6?CJOp�*�KLR?�CLOLT�N?B?oJEJ�CLSBm�eWm�m�TLH?KJKR\�FEBJ@LCC\�RLKe�S�DN?O?U'�1KCJ@�mT�TLH?KmF�e�E?@e�CLNB\@m@Lf�oeEJ�B?TToB?fCC\�Mmf��QBLom|CJMIO?��o?�FOJ�F�X?BmFCJMm'

6jB�6?CJO�K?BeWJF�@GCm�FJNBLMUFLEJ�NR\C�?NGBLMm��BLT?@T�OjB?@�bB?@GCO?@�m�NBJTCLWJF�@GCG�O?@LCKJB?@�Mmf��LOMm�'�`FmK@?FR\FD\� FmK� MI?Q?p� FOLTeUWJ� CL� EGp� }?� bB?@GCO?�*

qY�

D?EGCCJSp� L� \� EmRIOJ� W?E?FJS'�6?CJO� TL\FJF� CL� EGp�}?� H?WGKLEJ� @GCm� CLQ?Ke� CLoBLEJ� K?DFmKe� F� O?@LCKeFLCCm� omRI�J@J?NGBLMm\@J�m�}?�FmC�NmK�WLD�o?U�oeKG�BLT?@�Tm�@C?U'

�?o� FJO?CLEJ� MG� TLFKLCC\p� \� @LF� KmDELEJ� NmK� DF?fO?@LCKeFLCC\� FDm� ?H?B?CCm� FmKKmRJ�2GBG@J}JCJ�*� O?R?� Y�W?R?FmOp�D?ECU�46<�bB?@GCOLp�D?ECU�46<�PBeoL�m�W?Ee�46<1BDIO?Q?� NmK� O?@LCKeFLCC\@�/LDEmFOJ'� <DmH�*� oRJTIO?� ���W?R?FmO'�=?f�NGB�G�TLFKLCC\�*�NmKQ?E?FJEJ�FmKKmRJp�NBJTCLWGCmKR\�Mmf��LOMm�p�K?�o?U�DGBGK�TLoeK?FLCIp�o?�EGp�}?�K?�o?U�KmSKGpoeR?� \DCG'� 6jB� 6?CJOp� oL|LUWJ� N?KmRJEJD\� Tm� @C?U� DF?�@K?DFmK?@p�NGBGN?FmF�@GCm�?KJC�DFmS�omSp�}?�S?Q?�FmC�TFmF�oeF�F?KC?@e�@LR?@e�@mDEGWOe'

_mDELF�J� K?ORLKCm� mCDEBeOMm�� FmK� 6?CJOLp� \� FmKmS�?F'6?@LCKJB�N?oL|LF�@GCm�eDNmHep�L�O?RJ�\�F|G�FmKWJC\F�KFGBmp}G�K?OJCeFg

*�_?ORLKmEI�eDmH�TeDJRIp�}?o�DNBLFL�FJS�RL�K?oBG'>Ke� CLQ?KeFLEJ� O?CGS'�2?� K?B?Tm�}G� BLT� B?TKe@eU� CLK

DELFRGCC\@�OjBL�6?CJOL�K?�NmKRGQRJH'�<mC�DF?fU�N?FGKmCO?U�e@mfTLQBmEJ�Ke�ep�F@mf�NBJQ?E?FJEJ�K?�TLFKLCI'�PLFK\OJ�DF?�S�DOB?@C?DEmS�FJH?FLC?DEm�OjB�6?CJO�oeF�e�CL�JH�?WLH�LFE?BJEGE?@'

6?Cm�F|G�Q?E?Fm'�4mKLU�Tm�DEB'�b?BKJ@p�m�O?Cm�WFLR?@�N?omQRJN?� RmD?FmS� DEG|Mm'� 0BJ@Lf@?� FmKDELCIp� WLDE?� EBGoL� CLHJR\EJQ?R?Fep�}?o�CG�KmDELEJ� QmRR\O?U�N?�?WLH'�6?Cm�SKeEIp� FGDGR?~?BOLUWJ'�4EJHL� NmKDNmFef@?� D?omg� �PLFEBL� F� KLRGOe� K?B?QeO?C\� DF?Q?� ?DmKRLUp� OBmDL� TLOJCe� CL� NRGWm'''��=Lf@?� �HLEJN?WGBGT�DGRL�X'p�/'p��'�K?�DGRL�`'

<� DGRm� `'� QBLUEI� oeoCJp� @eTJOL�*� FGDmRR\'��G� TCLOp�}?DN?OmSC?�S� oGTNGWC?'�8RG� ?N?FmKLRJ�@GCm� TCLS?@m� DGR\CJp�}?E?@e�KGOmRIOL�KCmF�oeF�EeE�CLNLK�WGBF?C?��N?RIDIO?��o?�FOJ�T�DGRL_GR\Q?FJp�LRG�OjB�bB?@GCO?�FmKoJF�MGS�CLNLK�F?QCG@�@mC?@GEmF':LE?@mDEI�FmK�X?BmFCJMm�F|G�OmRIOL�KCmF�CG�oeR?�F?B?|JH�KmS'

PeDEBmWLU�D?E'�bB?@GCOL'�2B?N?CeU�FmKmSEJ�OeKJDI�TL�DGR?p}?o� EL@� DF?omKC?� T+\DeFLEJ� TLFKLCC\p� N?DELFRGCm� CL@OjB?@�6?CJO?@'�P�CL@J�SKeEI�W?E'�46<�PLRmTC\Op�W?E'�dLSOL�mDEB'�4?OmRp�}?�?NmDR\�DELF�W?E?FJ@�e�D?ECm�bB?@GCOL'

4L@?@e�bB?@GCO?Fm�NGBGN?FmKLU�CLOLT'��?o�?oQ?F?BJEJDELC?FJ}Gp� bB?@GCO?� NBJORJOef�}G� KGOmRIO?H� W?E?FJHp�}?K?oBG� TCLUEI�@mDMGFmDEI'�2mKDeFLf@?D\� K?B?Q?Up�}?� FGKG� CL`DGCmFp� m�T?BJ@?�X?BmFCJMU'�XLWJ@?�FG|ep�T?BM\p�L�F�?O?NLH

qYZ

FL|OJS� OeRG@GE� CL� DELC?FJ}m'� 5FL|C?� B?TQR\KLf@?DIp� }?oCLD� CG� TLNBJ@mEJRJ'� <� B?Fm� ?BmfCEef@?� OLBEe� S� N?WJCLf@?DORLKLEJ�NR\C�Km�'�d?E'�PLRmTC\Op�}?�oeF�EeE�O?RJDI�QLS?FJ@�mTCLf�FDm�RmDJp�NmKH?KJp�N?E?OJp�DEG|OJp�Q?BoOJp�K?B?QJp�K?ORLKC?CLD�?BmfCEef�F�@mDMGF?DEm'

0eE�@J�K?@?FJRJD\p�}?�bB?@GCO?�T�KF?@L�W?EL@J�46<�m�T?H?B?CCJ@� FmKKmR?@� ZjQ?� BLS?Ce� B?TToB?UFLEJ@G� NBJDmR?OdGHJp�L�\� mT�DF?�@J�DJRL@J��?H?B?CCm�FmKKmRJ��jQ?p�ZjQ?� m�qjQ?BLS?CmFp�46<�PBeoL� m�46<�/LDEmFOJ��NmKe�CL�Q?R?FCJS�MGCEBDGRL�d?BCJS�2?EmO'�5TQ?KJRJ�WLD�CL�?��LOMm��CL�.qj�G�OFmEC\pQ?KJCL� EBGE\� FBLCMm'� 2?WLE?O�*� omRL� BLOGEL� S� FJoeHJ@mC?@GECJH� DEBmRGC'� bB?@GCO?� D?om� K?ORLKC?� TLC?E?Fefe@?FRGCm�TCLOJp�ORJWOJp�WLDp�NmKHmKp�FmKHmKp�CLOLT�NB?F?Ke�E?}?'

2mDR\� E?Q?� FGBELf@?D\� K?� DGRLp� KG� @GCm� ?N?FmKLUEI� NB?NmKTG@CJS�̀ FmBCJO'�<�CLDRmK?O�KJOJH�CLNLKmF�WGBF?C?jN?RIDIOJHo?�F?O�MmRG�DGR?�@Lf�OBJ�FOJ�NmK�TG@RGU'�:L�FJNLK?O�EBJF?QJTK?B?FJS�GRG@GCEp�\O}?�CG�FDNmf�FEGOEJ�K?�RmDep�mKG�NmK�TG@RUpKG� TLH?FLCG� ELO?|� FD\OG� @LSC?'��G� QmB�Gp� \O� e� ELELBDIOGRJH?RmEE\'

d?E'�4?OmR�TLNB?�ef�@GCG�NBJSEJ�NmDR\��F?SCJ��CL�FGDmRR\'<mC� CGTLoLB?@�|GCJEJ@GEID\'

2B?}LUD\�T�KBeT\@Jp�DmKLf@?�CL�O?CGS�m��QGS�|Gp�F�K?B?Qepe� \DCeU� NeEI'''��2?� K?B?Tm� \� Bm�JFD\� ELOJ� DL@� NmKDeCeEJD\RmD?@�CLK�DGR?�X?BmFCJMU�T�NB?EJRG|C?Q?�o?Oe'�A?W�RmD�@Lf?Wm� S� FeHLp� LRG� FmC� CL�� oLEIO?'� /J�Lf@?� O?CGS� F� Qe}LOepCLDELFR\U� O?@NLD� m� NB\@ef@?� CL� ?oBLCJS� NeCOE'� 2mDR\?KC?Q?KJCC?Q?� @LB�e� \� CLEBLNJF� CL� FLR� oeOmF� EL� \RJMIpoGTRLKC?�N?TFLRUFLCJH'��G�F?B?|m�oLBJOLKJ'�PCLWJEIp�DOBLSe|G� oRJTIO?'� _GBGFL� NmKDJHLUEIp� EBm}LEIp� mp� \OoJ� HE?� FC?WmCLKH?KJFp� MGS� EBmDO� LR\B@eFLEJ@G� DEmSO?FJH'� /mF?BeW� mNBLF?BeW�FmK�@GCG�CGKLRGO?�FmK�HLE�*�?O?NJ'�=m|�O?DEI?R?@EL�OmRIO?@L�HLEL@J�NmK�RmD?@�K?RJCL�oGT�?O?NmF'�:LNBLF?�Q?Bo?OpCL�\O?@e�CL@�K?oBG�oeKG�DE?\EJ�m�TFmKEJ�OGBeFLEJ�o?f@t�o?Uo?�CG�?@JCeEJ'�7?TQR\CeF�JDIp�TCJOLUp�o?�SKG�F?B?|L�DEG|L'4mKLf@?�CL�O?Cm�m�WFLR?@�|GCG@?�K?�DGRL'

<� HLEm� `C\� NGBGBJD?FeU��OmM� m� SKe� K?� OjBL� 6?CJOL'2GBGN?FmKLU� S?@e� B?T@?Fe� T� bB?@GCO?@� m� N?OLTeU��OmM'_?ORLKC?�B?TN?FmKLU�NB?�MmRJS�NR\C�Km�'

2mDR\� E?Q?� \O� S?Q?� DHFLRJF� O?@LCKJBp� ORJWe� K?� DGoG

qY[

DE'� oeR'� PBeoLp� W?E'�/LDEmFOep� O?@'�1DEB?FGBHL�S�NGBGKLU� �@CLOLTJ'�d?E'�dLSOL�CLOLT�e|G�?EBJ@LF'

qk�OFmEC\�@LRGCIOGp�eo?QGp�N?R?|GCG�DGBGK�RmDmFp�DGR?�/'p}?�oeR?�?KCmfU�T�Q?R?FCJH�oLT�NmKNmRR\�XmBWLC}JCJp�Q?DEJR?oLQLEI?H�N?FDELCMmF'�P�eDmH�DE?BmC�CLKH?KJRJ�NmKFmKKmRJ�S�QBeNJ'1KCm�OFLBEJBeUEI�CL�2mKRJDDmp� mC�m�*�F�DGRm'�^�EeE�KGOmRIOLO?@LCKJBmFp�NB?FmKCJOmF�NmKNmRR\p�BG~GBGCEmF'

4GBGK� DEBmRGMEFL� BeH� m� NBJQ?EeFLCC\g� D?BEeUEI� ToB?UpL@eCmMmUp�O?CEB?RUUEI��BLCLEJ�EL�FDG�WJDE\EI'�<?CJ�TCLUEIp}?�oeKG�omSp�LRG�KG�*�CG�TK?QLKeUEID\'

4GR?�}G� CG� oLWJR?� DEmRIOJ� N?FDELCMmF'� :?Fm� ?oRJWW\TLMmOLFJRJ� RUKGSp� LRG� CmHE?� CG� DELFJEI� TLNJELCI'� 4GR?� oGTFJC\EOmF�oeR?�T�CL@J'�:G�TRL@LRJ�S?Q?�F?B?|m�CLNLKJp�QBLoG|mpOLEeFLCC\�S�B?TDEBmRJ'�<?CJ�}G�omRI�G�NGBGO?CLRJp�}?�fKJC?U?o?B?C?U�eOBL�CDIO?Q?�CLDGRGCC\�f�CL�L�ToB?SCL�DJRL'��JB?K?N?@LQLRJ�DGR\CJ�N?FDELCM\@p�KmRJRJD\�?DELCCm@�OeDCG@�HRmoLp?DELCCI?U� OLBE?NRJC?U'� 7LKmRJ� CL�?U� NBJ\FCmDEU� F� DGRmpDJR?Up�eDNmHL@Jp�o?RmRJ�CL�J@J�|GBEFL@J�m�CGFKLWL@J'�_mFWLELFmKKLC?�NmOReFLRJD\� BLCGCJ@Jp� H?KJRJ�CL� B?TFmKOep� RLELRJ�SNBLRJ� omRJTCep� FLBJRJ� N?FDELCM\@� �DEJ'� b?DN?KLBm� DE?\RJ� CLDEmSOLH�FKGCI�m�FC?Wmp�\O�oeR?�EBGoL�*�E?�S�Tm�ToB?fU�F�BeOLH'6?RJ� ��� HE?DI�CG�@LFp� E?�MG�oeR?� KR\�CI?Q?� D?B?@?@'��mCOLFJQLC\RL� W?R?FmOL� T� HLEJp� }?o� N?DELBLF� D?om� Be�CJMU� SK?N?@LQLF�N?FDELCM\@'

.�� OFmEC\� NmDR\� N?ReKC\� FJBe�Lf@?'� 2LKLf� K?}p� NmKC?QL@J� QBeTIO?'�2GBGH?KJ@?�/JNep� CL� XeO?FJCe'� <GW?Bmf'_GDI� oRJTIO?� NmFC?Wm� NmKDeFLf@?D\� RmD?@� F� CLNB\@mX?BmFCJMm'� <Dm� SKeEI� @?FWOJp� WeEJ� EmRIOJ� DO?BJS� FmKKJHpDOBJNmE� OeRG@GEmF� EL� EBmDO� NmK� C?QL@J� QmR?O'� <GKGW?E'� PLRmTC\Op� }?� K?oBG� TCLf� @mDMGFmDEI'� XmR\� @GCGOjB� 6?CJOp� NB?FmKCJO� @mDMGF?Q?� NmKNmRR\� 4ELBJSp� OmRIOLRUKGS�T�FmKKmRe�?H?B?CJ'�0G@B\FL�ELOLp�}?�H?W�?O?�FJO?RJ'>KG@?�CLF@LCC\�RmDL@Jp�DFmERL�DFmEJEJ�CG�@?|CLp�o?�oRJTIO?F?B?Q� EL� S?Q?� NmKDReHJ'� _?}� NLKLf� }?BLT� omRI�JS'� =JNB?@?ORJ�K?�CJEOJ'

6?R?� EBGEI?�p� NmDR\� CGFGRJWO?Q?� oReOLCC\� NBJH?KJ@?CL� FJHmKCJS� NeCOE'� <� eOBmNRGC?@e� N?RIDIO?@e� DGRm� EJH?pCLFmEI� D?oLOJ� CG� QLFOLUEI'� /mCm�� B?TQ?BCeEmp� O?|GC� TCLfDFmS�CLNB\@'��G�BLT�NBJQLKeU�DEB?QJS�CLOLTg�CG�DEBmR\EJ

qYY

K?�CG?ToB?fCJHp�NGBGNeDOLEJ�|mC?Op�KmEGS�m�DELBJOmF�TL�RmCmUo?Up�CL�FJNLK?O�N?|LBe�FJNeDOLEJ�HeK?oe�S�O?CGS'

:L�dGHLH�oRJDCeRL�e@?FRGCL�BLOGELp�L�F�F?B?|JH�?O?NLHDELRJ� B?TBJFLEJD\� @mC?@GECm� DEBmRICL'� 2?WLFD\� omS'� :LFmKEJCOe�1DEB?FGBHL�SKG�DNBLFC?'�<JKC?p�}?�K?oBG�SKG�PBeo?Fm'/J��OjB�dLSOL�K?FQ?�o+fEID\�omR\�KGOmRIO?H�HLE'�0L@�DJRICJSDNB?EJF�F?B?QL'

=J�DE?�@?�CL�OBLU�RmDL'�6jB�6?CJO�@?FWOJ�NBJKJFR\fEID\':L�FmKEJCOe�OjBL�1DEB?FGBHL�N?WJCLfEID\�omSp�}?BLT�omRI�JSEL�TLNGORm�JS'�`�H?We�SEJ�EeKJ'�0L�6?CJO�OL|G�@GCm�FWJEJD\oeEJ� O?@LCKJB?@g� K?� OmCM\� oeEJ� CL� O?@LCKC?@e� NeCOEm� SEBJ@LEJ�N?DEmSCJS�TF+\T?O�TL�K?N?@?Q?U�FmDE?FJH'

_GOmRIOL�NGBGR\OLCJHp�?ToB?fCJH�o?�FOLBmF�om|JEI�NB?DE?CL�CL�e�?H?B?Cep�LRG��H�DO?B?�B?TToB?UUEI'�6?CJO�DE?�EI�Tm@C?U�omR\� QBeNJ� D?D?C'� `� NB?N?CeU�NGBGSEJ� F� EmCI� FGRJO?�\RJMm'�0mRIOJ�@J�NBJOR\OCeRJ�omR\�CG�p�\O�Em�EBJ�D?DCJp�KG�@JNGBGK� HFJRJC?U� DE?\RJp� NGBGE\RL� K?FQL� WGBQL� F?B?|?Q?OeRG@GEL'

:GDeEI� BLCGC?Q?� XJDEB?Q?p� FGKeEI� BLCGC?Q?� W?E'�1DEB?jFGBHL'� <mC� CLEBLNJF� CL� CLSDJRICm�e� F?B?|e� QBeNe'� PLQJCeFCL��TF+\TO?FJS�mT�46<g�S?Q?�NDGFKL�CG�NL@+\ELUp�LRG�N?H?KJFFmC� T� NBJDmROL� DGRL�XBJ|LFJ*<?R\'�<JDJRLU� TF+\TO?F?Q?� K?OjBL�PBeoL�TF+\TLEJD\�T�QBeN?U�1DEB?FGBHL�S�LELOeFLEJ�F?B?QLF�N?E?Mm'�:L�K?N?@?Qe�QBeNm�1DEB?FGBHLp�O?@LCKeFLCC\�\O?Q?NGBGoBLF�2GE\p�N?DJRLU�?KJC�BmS�T�CL�?��?H?B?CJ'

4OBmTI� WeEJ� FJoeHJ� �BLCLEp�@mCp� L@eCmMm�p� KGjCGjKG� Q?B\EIHLEJ'�6JNJEI�omS�CL�FmKEJCOe�W?E'�dLSOJp�W?EL�/LDEmFOJ�DNB\@?FefF?Q?CI�TL�o?�FOLB\@Jp�}?�FEmOLUEI'�XmR\�O?DEI?Re�F?B?Q�DELFJEITLFT\EJS� DNB?EJF'� XmS� mKG� F|G� NmFE?BJ� Q?KJCJ'� :L� KG\OJHFmKEJCOLH�N?WJCLf�DEJHLEJ'�2BJomQLUEI�TF+\TO?Fm�m�TQ?R?�eUEIp}?�NmDR\�FL|O?Q?�o?U�FKLR?D\�TK?oeEJ�RmDCJWmFOe'�XLCKJE�4RfNJSFEmO'�dLDEJCL�F?B?QL�NB?BFLRLD\�TjNmK�O?DEI?Re�F�DE?B?Ce�dGBEG|L'P�N?E?Oep�KG�FGRL�omS�QBeNL�1DEB?FGBHLp�WLDEJCL�F?B?QL�NB?BFLRLD\F� RmD� CGKLRGO?� FmK� CLD'��G� SKeEI� N??KJC?Om� QBeN?Fm� o?�� TB?ToJEOL@Jp�TK?oeFLUEID\�NmKFLRJ�S�?O?NJ'

1��?DEmS� FJDEBmRUU�BLOGEe'�:L� TomBC?@e� NeCOEm� B?oRUNGBGQR\K�RUKGS'�2?DJRLU�_BLNLOL�N?�NmKF?KJp�}?o�TLoBLEJ�CL�JHeoJEJH� m� BLCGCJH'�_?FmKeUD\p�}?�NmK� WLD� o?U�FDm� K?FO?RJ�CmCL�m�DGRL�FJS�RJ�CL�N?R\�T�MGBO?FCJ@J�NB?MGDm\@Jp�H?BeQFL@J

qYn

S�HBGDEL@Jp�K\OeUWJ�X?Qe�TL�TFmRICGCC\�FmK�MI?Q?�o?�FOLBDIO?Q?OeoRL�m�oRLQLUWJ�V?Q?p�}?o�@J�oGT�|GBEF�TLOmCWJRJ�KmR?'

4ORLKLU�TFmE�OjB?Fm�6?CJO?Fm'�<mC�e�OmRIO?H�DR?FLH�DORLKLfF?\OL@�N?K\Oe�FmK�6?@LCKeFLCC\�1OBeQJ�EL�O?B?EO?�N?\DCUfFLQe� CL�?�� Km�'� `� oeF� TLK?F?RGCJSp�}?� CL�m�46<p� DOBmNRGCmF?\OL@J�528p�FJO?CLRJ�\O�DRmK�N?DELFRGCG��@�TLFKLCC\'�:L�GCLDGRGCC\� o?KLS� CL� KG\OJS� WLD� @LEJ@G� DN?OmS� FmK� EGB?Be� SQBLoG|mF'

7LT?@�T�NmKF?KL@Jp�}?�TLoBLRJ�eoJEJH�m�BLCGCJHp�NBJFGTGjC?� HLBWm� KR\� N?FDELCMmFp� }?� CJ@J�}GKB?� ?oKLBeFLRJ� CLDK?FO?RJ�Cm� DGR\CJ'

7?TQB?@� CLSDJRICm�?�� WGBF?C?�� N?RIDIO?�� EGB?BJDEJWC?jQBLom|CJMIO?�� o?�FOJ�XmBWLC}JCJ� FJORJOLF� NGBGN?R?H� DGBGKF?B?|JH��?FmCmDEJWCJH�GRG@GCEmF'�<mKKmRJ�N?RIDIO?Q?�FmSDIOLp}?�NBJoeRJ�CL�KBeQJS�KGCI�CL�@mDMG�o?Up�CLFmEI��CG�NB?oeFLRJSEJ� TL� CL@J'� <?CJ� EmRIOJ� TLoBLRJ� FDG� CLDGRGCC\�X?BmFCJMm� TD?o?U'�2?OJCeF�MU�?O?RJMU�EG|�FLEL|?O�B?TomSCJMIO?Q?�OeoRL4RfNJS'�<JB\EeFLF�JDI�T�o?U�F�X?BmFCJMmp�FmC�TLOFLBEJBeFLF�F?KCmS�HLEm�NmK�RmD?@�omR\�DGRL�/JNJ'�2B?�MG�K?FmKLFD\�?KJC�CL�?H?B?CCJS�FmKKmRp� TB?oJF� EL@�?oRLFep� LRG�S� EeE�S?@e�FKLR?D\FEGOEJ�TjNmK�QBLKe�OeRI'�1N?FmKLRJ�?NmDR\p�}?�4RfNJS�N?KLFD\K?�2GBG@J�R\p� KG� T?BQLCmTeFLF�C?Fe� EGB?BJDEJWCe� o?�FOe� m� TCGU�KLRm�CLNLKLF�CL�@JBCm�eOBL�CDIOm�DGRL'

X?BmFCJM\�?NeDEmRLp�DGR?�TLB?DR?�oeSCJ@J�EBLFL@Jp�L�RmDJX?BmFCJMm� DELRJ� FmK� E?Q?� WLDe� Q?R?FC?U� oLT?U� KR\� CL�JHNmKFmKKmRmF�m�o?S?FJH�QBeN'�0eE�oeKeFLRJD\�OBJ�FOJ�S�@L�LTJCJ'2mK�WLD�|CJF�N?\FJRJD\�oeRJ�?ToB?fCm�F?B?|m�QBeNJp�}?�H?EmRJTmoBLEJ� T� NmRI� Tom||\p� LRG� F?C?� F|G� oeR?� TmoBLCG� EJ@JB?KJCL@Jp�}?��H�N?R\OJ�NB?QCLRJ�TjTL�4\Ce'

d?E'�1DEB?FGBH� FmKH?KJEI� K?� DGRL�/'� CL� RmOeFLCC\t� CJ@?NmOeUEID\� X?QKLCL� S�6LRJCL'� <mK� BLC� e@JBLf� XJDEBJS� ��� TmDGRL�=LR\FJ'� V?@e� FRL�EeFLRJ� FGRJWLFJS� N?H?B?C� NBJDNmFeWLDEm�oLQLEI?H�N?FDELCMmF�m�NmKNmRICJH�FRLDEGS�BLS?Ce'��GF|G� EBGEmS� T� WGBQJ� N?FDELCGMI� DN?WJF� CLFmOJ� CL� CL�?@eMFJCELBJOep�}?�CL�Q?Bo?WOe�NmK�RmD?@p�CLK�DGR?@'

���

�G�TLOJ�TRmOFmK?FLC?�o?�FOLBmF�e�X?BmFCJMmp�@GCm�K?FGR?D\B?TNBLFJEJD\� T� WGBF?CJ@J�N?RIDIOJ@J�o?�FOL@J� T�4\C?OL�S

qYw

=BJQR?KLp�}?�DJDEG@LEJWC?�QBLoJRJ�m�EGB?BJTeFLRJ�CLDGRGCC\CL�_?oBmS'�:?WL@J�NmKDeFLRJD\�CL�NBJDmROJ�7mWOLp�4J@?FJM\S�CL�WLDEJCe�DGRL�CLK�4\C?@'�7?oRU�CGBLT�TLDmKOJ�C?WL@JpLRG� CG� K?FGR?D\� TeDEBmEJD\� T� F?B?Q?@'�aeOLU� S?Q?� @m|HLEL@Jp� N?� DEG|OLHp� NmKDReHeUp� KG� QLFOLUEI� D?oLOJp� KGoRJ@LUEI� DFmERLp� WeEJ� E?NmE� W?omEp� WJ� CG� FJKC?� NmK?TBmRJHEmCGS'

<BG�Em�q��WGBFC\�?EBJ@eU�FmDEOep�}?�CL�DGRLH�N?\FJRLD\o?�FOL�DJR?U����W?R?FmO'�XGBe�?H?B?CCJS�FmKKmR�NmK�O?@LCKejFLCC\@�d@mR\�m�KFL�NmKFmKKmRJ�46<g�?KCJ@�O?@LCKef�1DEB?FGBHpL�KBeQJ@�*�4mBO?'�=LB�ef@?�N?WGBGT�NBJDmR?O�7eDmWOLp�?NmDR\SKG@?�N?E?O?@p�}?o�TL@OCeEJ�K?B?Qe�F?B?Q?Fmp�}?�Nm�?F�CL=L�eBe'�7?TFmKOL�K?C?DJEIp�}?�?KCL�QBeNL�o?�FOLBmF�Nm�RL�CLNBJDmR?O�_?oB\COLp�L�KBeQL�CL�NBJDmR?O�4J@?FJM\'�`�SKe�CLK4\C� omR\� HLEJ�dLSO?FDIO?Q?p� KG� oeF� oBmK'� 0eK?U�1DEB?FGBH@Lf� FJEmDCUFLEJ� F?B?QL� T� _?oB\COJp� L� 4mBO?� mT� 4J@?FJMm':GTLoLB?@�4mBO?�N?FmK?@R\fp�}?�o?�FOLBm�F�DGRm� m�FmC�B?oJEITLDmKOe�omR\�MGBOFJ'

1o� ?KJCLKM\EmS� MmRJS� FmKKmR� F?B?QL� DH?KJEI� T� Q?BJ� CL?o?R?CC\� mp� TLNBJ@mEJF�J� 46<p� N?WJCLf� FmKDEeNLEJ'<mKOBJFLf@?� F?Q?CI� T� ���� @GEBmF'� <?B?Q� FmKoJFLfEID\� KF?@LOeRG@GEL@J'�VKG@?� F� CLDEeN'� _GOmRIOL� WGBF?CJH� N?RIDIOJHEGB?BJDEmF� CLOJKLUEI� CL� DGoG� DGR\CDIOJS� ?K\Q� m� DNm�C?FEmOLUEI'��m�HJEB?}m��@�FKLUEID\p�o?�@J�NGFCmp�}?�MG�FEmOLUEIDGR\CJp� S� E?@e� N?� CJH� CG� DEBmR\f@?'� :L� Q?Bm� @m|� _?oB?UaR\HGEDIO?U�EL�7eDEJOLRIC?U�NBJH?KJEI�K?�KF?Q?KJCC?Q?�o?U'XGBe�F?B?QL�F�OmRIMG�S�B?ToJFLU'

:LSomRI�G� OR?N?Ee� oeR?� T� OLNBLR?@�:GCJWG@p� B?K?@� TXGBG|LC}JCJp�}?� O?@LCKeFLF� MmfU� o?�FOLBDIO?U� QBeN?U� mKe|G� H?B?oB?� oJFD\'� 1H?B?C\UWJ� FmKDEeN� OmRIO?H� DF?�HN?BLCGCJH�E?FLBJ�mFp�}?p�N?OJCeF�J�ToB?Up�FEmOLRJp�TLSC\FFmC�?KCe�\@ep�NRGWJ@L�?oNGBD\�?o�oGBGQ�m�DL@�?KJC�FmKoJFLFD\�BLCLEL@J�m�OeRG@GE?@'�:L�m��BLCLEJ�TBeWC?�FmKOJKLF�CL@�CLTLKp*�B?TBJF�?KCmf��T�CJH�N?BLCJF�@GCG�F�RJMG'�<�@GCG�MG�F|G�TWGBQJ� N+\EL� oRJTCL'�1KCe� ELOe�S?Q?� �BLCLEe� TR?FJF�XJDEBJSCL�RGEe�m�FmKOJCeF�S?@e�CLTLK'�<mK�B?TBJFe�Mmf��|�FRLDC?���BLCLEJ:GCJW�m�TLQJCeF'

�G�NGBGK� D@GBEU�FDEJQ�FmC�FJDEBGRJEJ�WGBF?Ce�BLOGEe'=LoeEIp�MJ@�NBJORJOLF�D?om�K?N?@?Qe'�8RG�O?RJ�@J�FmKmS�RJ

qYk

CL�DGR?�/'p�TL@mDEI�K?N?@?QJ�o?�FOLB\@p�CL�CL�G�@mDMG�T�W?E?UNBJS�?F�1DEB?FGBH'�<mC�TeDEBmFD\�EeE�mT�N?RIDIO?U�TLR?Q?U�T=BJQR?KLp�}?p�TLLR\B@?FLCL�BLOGE?Up�DL@G�NBJH?KJRL�CL�FmKDmW'1DEB?FGBH� mT�DF?�@�FmKKmR?@�TLDO?WJF� ���DL@G�E?Kmp�O?RJ�F?CLNGBGH?KJRL� BmWOe�4\C'� _mDELF�J� F?Q?CIp� F?CJ� FGBCeRJD\� K?=BJQR?KL'

<mK�MI?Q?�WLDe�QBLoG|m�F�_?oBmS�NBJNJCJRJD\'�6?RJ�F?B?QNBJH?KJFp�E?�mT�FKGD\EGB?�omRI�?U�DJR?Up�m�F|Gp�\O�TFJWLSC?pCG�QBLoeFLF�EL�DO?B?�N?OJKLF�DGRL'

���

1KC?Q?�BLTe�B?oRU�N?RI?Fm�FNBLFJ�T�@mDMGFJ@�46<�EL�mTDF?�@�?H?B?CCJ@�FmKKmR?@�F�RmDm�@m|�DGRL@J�/'�b'p�/'�S�b'�<DmHF?\OmF� O?R?� N+\EKGD\EJ'�2BJomQLf� KmFWJCL� m� TQ?R?�efp�}?� K?DGRL�/'�b'�NBJ�HLF�F?B?Qp�\OL�D?EC\�Tm�DmR�<?SEO?FJp�6eTI@JCJm�T�XmBWmp�L�T�CJ@J�?KCL�W?EL�N?RIDIO?Q?�FmSDIOL'�2GBGF?K\EILBG�EJp�o+UEI�m�QBLoeUEI�RUKGS'�P�CLQBLo?FLCJ@�@LSC?@�m�TLBG�E?FLCJ@J�@LUEI� �HLEJ�*�?KCm�CL�0B?DE\CGMIp� L� mC�m�*CL�XmBWe'

:G@?|RJF?�oeR?�SEJ�NB?DE?�CL�FmKDmW�DGRL�/'�b'p�o?�K?FOBeQJFmKOBJEJS� EGBGC'� 0?@e� B?oRU� TLDmKOe�@m|� DGR?@�/'� b'� EL�6'XLWJ@?p� �KeEI� F?B?|m� OmCCm� DEG|m'� 9H� NB?NeDOLf@?'� _LRm� �KGKGOmRIOL� NmKF?Kp� L� CL� F?TLH� N?FC?� W?R?FmOmFp� ?K\QCGCJH� eMJFmRICG'� PoB?�� CG� FJKC?� Cm\O?�'�=GCm� \DC?p�}?� MG� HJEB?}mF?B?QLp�\OJS�F�MGS�DN?Dmo�@LDOefEID\'�_LU�e@?FCJS�TCLO�*Nm\CC\�NmFC\p�}?o�FmKOBJEJ�F?Q?CI'�0J@�WLD?@�DEBmRGMI�_eo�TmDGRL�/'�OBJOCeFg

*�:G�DEBmR\EJ���G�MJFmRICm'PKGT?BmfCE?FLCJS� 46<� CG� DEBmR\fp� m� EmRIOJ� @mS� FmKKmR

FmKOBJF�F?Q?CI'�XLWJ@?p�}?��@JBCm�MJFmRm��FH?NJRJ�TLH?FLCeToB?U�S�OJCeRJD\�K?�CGKLRGO?Q?�N?E?Oe'�0?Km�S�46<�FmKOBJFF?Q?CIp�LRG�F|G�oeR?�TLNmTC?'�<?B?Q�@LF�EmRIOJ�KGOmRIOL�BLCGCJH'>KG@?�TL�CJ@�F�N?Q?CU�L|�CLK�DGR?�7'g�FmKoJRJ�FDG�N?QBLo?FLCG@LSC?�S�LBG�E?FLCJH�eOBL�CMmF�EL�SKG@?�NB?QCLEJ�KBeQe�oLCKe':L�DGR?�FKLB\f�1DEB?FGBHp�L�\�TLomQLU�BmWO?Up�}?o�TL@OCeEJFmKDEeN'�0L� F?B?Q�NLCmWC?�FEmOLf�oGT�o?Up� TLRJ�JF�J�CLFmEINmKF?Ke�T�KGOmRIO?@L�OeRG@GEL@J'

:LDGRGCC\� BLKmR?p� }?� @J� FmKKLRJ� N?QBLo?FLCm� BGWmpLBG�E?FLCm�|�CGFJCCm�DGR\CJ�CG�@LRJ�DRmF�N?K\OJ'

qn�

d#�R�" U��� � �T�#%]!V� e

<�CLDRmK?O�?EJH�KGOmRIO?H�B?TQB?@mF� F?B?|JH�o?�F?Op� LDL@G�m�F�bB?TI?FmSp�_?oBmSp�X?BmFCJMmp�/m}LFm�*�eFGDI�NB?DEmBCLK� 4\C?@p� N?WLF�J� FmK� DGRL� PLRe||\� L|� N?�2GBG@J�RIpoeF� TFmRICGCJS� TjNmK� O?CEB?RU� �KG@?OBLEJWC?�� 2?RI}m�'_mS�R?�K?�E?Q?p�}?�N?WLF�J�FmK�DmR�<?R\�6BGMmFDIOLp�_?oBLp5RUWp� bBe�mFOLp� `oR?CJM\p� <?R?K|p� 4GRJDIOLp� 2+\EO?FLp>DOLCI�*�L|�N?�6eNCep�7?O�JMm�S�KLRmp�K?�b?B?FJWp�DE?\RJCL�m� DEmSOJp� }?� O?CEB?RUFLRJ� BeH� CLDGRGCC\� S� oGBGQRJO?BK?CmF�N?FDELCDIO?���BGDNeoRmOJ�'�6?|GCp�HE?�N?EBGoeFLFNGBGSEJ� MGS� O?BK?Cp� @eDmF� @LEJ� K?TFmR� FmK� @mDMGF?Q?N?FDELCDIO?Q?�NB?F?Ke'

7mFC?om|C?�T�CL�J@J��NBJO?BK?CCJ@J��DEmSOL@J�N?FCJRJDRe|oe� EG|� m� N?RIDIOm� TLDELFJ'� P� CJ@J� WLDE?� K?H?KJR?� K?DeEJW?O� m� NGBGDEBmR?O'�2mDR\� E?Q?� \O� @mDMGFm� QBLom|CJMIO?jEGB?BJDEJWCm� o?�FOJ� oeRJ� B?TQB?@RGCmp� @mDMGFJS� NmKNmRICJSNB?FmK�FJKLF�KGOmRIOL�NB?NL�LCKJFCJH�oB?�eB�KR\�N?RIDIO?Q?CLDGRGCC\p� F� \OJH� TFGBCeF� eFLQe� N?RIDIO?@e� NmKNmRRU� CL�OmKRJFe� N?RmEJOe� N?R\OmF� DeNB?EJ� eOBL�CDIO?Q?� CLDGRGCC\'_mS�R?�K?�E?Q?p�}?�ORmEJCJ�N?RIDIO?��8B@m��6BLS?F?�p�L�T?OBG@L:4Pp�N?WLRJ�NGBGQ?F?BJ'�1KCJ@�mT�CLDRmKOmF�MJH�NGBGQ?F?BmFoeF� K?TFmR� NGBGH?KJEJ� NmK� CL�J@� CLQR\K?@� WGBGT� CL�eEGBJE?BmU�WRGCL@�N?RIDIO?Q?�NmKNmRR\'

0?@e� }?� N?RIDIOm� o?�FOJ� NB?QCLRJ� WLDEJCe� CL�?Q?CLDGRGCC\�TjTL�4\Ce�CL�CL�e�EGBJE?BmUp�L�WLDEJCe�FJ@?BKejFLRJp�@J�oeRJ�NBJ@e�GCm�NGBGKLEJ�MJ@�FJQCLCM\@�m�FEmOLWL@TjTL�4\Ce�Q?DN?KLBDEFL�N?R\OmFp�}?��H�e�FmKNRLEe�FJDGRJRJ�TL4\C'�_?N?@?Qe�KmDELFLRJ�ELO?|�Q?DN?KLBDEFLp�}?�F�FCLDRmK?ON?RIDIOJH�CLNLKmF�oeRJ�N?NLRGCm� WJ�N?QBLo?FLCm'�:LDGRGCC\p}?� ?oB?oR\R?� CLKmRGCe� TG@RUp� KLFLR?� T� FK\WC?DEJ� WLDEJCeTmoBLCJH�NR?KmF�N?FDELCM\@�m�NmKNmRRU'

<�EGBGCm�T?BQLCmT?FLC?�DJDEG@e�N?DELWLCC\'�<DELC?FRGC?N?DEmSCm� NBJKmRJ� HLBWeFLCC\'� :LFmEI� NB?�|K|m�*� OmCI@JpNmKF?KL@J�WJ�B?FGBL@J�*�N?FDELCMm�?EBJ@eFLRJ�CL�NBJKmR?FmOLBEOJ�T�@L�LTJCmF�HLBWm�S�mC�m�NBGK@GEJ�}?KGCC?Q?�F|JEOe'2?DELRJ�CL�m�@LRm�~LoBJOJp�}?�FJB?oR\RJ�EUEUC�T�GEJOGEOL@J528p�MJQLBOJp�NLDEep�@JR?�S��OmBe'�4GR\CJ�FJFLBUFLRJ�DmRIpB?oJRJ�@LTJRL� K?� FTeEE\p� ToB?�� S� F?TmF'�2BLMUFLRJ��FLRICm

qnq

omRJTCJp�@eCKJBmFp�FTeEE\p�B?omECm��OLBNGE?Op�NLCWmHp�BeOLFJMIp�LRJOmFp�DFGEBmFp�oLCKL|mFp�Be�CJOmF�E?}?'

4OBmTI�FmKoeFLRJD\�FmSDIO?Fm�FJ�O?RJ�*�CG�EmRIOJ�@?R?KmpLRG�S�eDmH�W?R?FmOmF'�XLQLE?�NBLMm�FORLKLf�2LDEGBCLOj4ELBJSpO?@LCKJBJ�*�bB?@GCO?p�PBeop�6GBj1BDIOJSp�6BJRLWp�/LDEmFOLpXeBRLOL�S�mC�m'�<Dm�*�NmK�e@mRJ@�O?@LCKeFLCC\@�OjBL�6?CJOL'

<mKoeFLUEID\�DLCmELBCm�FJ�O?RJ�KmFWLE�NmK�NB?F?K?@�4OLRJS� X?QKLCJ'� X?QKLCL� FGKG� F� EGBGCm� KFm� LNEGOJ'� 8oD?RIFGCEOJDLCmELBCJH�OeBDmF�DELUEI�DLCmELBOL@J�N?��Oe}LH��EL�DLCmELBCJHNeCOELHp�KG�RmOeFLRJD\�BLCGCm�F?\OJ�528p�46<�S� mC�m'�:L�mRmOLBm�S�DLCmELBJ�NmOReUEID\�S�MJFmRICJ@�CLDGRGCC\@'�4OLRLS�0LBLD�NGBGFGRJ�CJTOe�?NGBLMmS'��mCOJ�ToJBLUEI�TmRR\p�}?�TCI?Q?�~LB@LMGFE�:GHBJDEp�X?QKLCL�S�1BGDE�FJB?oR\UEI�RmOJ'

<mKoeR?D\� E?Km� F� CLD� m� oLQLE?� FGDmRIg� DGBGK� MJFmRIC?Q?CLDGRGCC\� m� DGBGK� N?FDELCMmF� oLQLE?� ?KBe|JR?D\� F� MGSEBJF?|CJS� WLD'� 1KBe|eFLCC\� N?FDELCMmF� T� @mDMGFJ@JKmFWLEL@J�Ke|G�DOBmNJRJ�TF+\T?O�@m|�CL�J@J�OLKBL@J�S�DGR?@'�G�oeF�}G�?KJC�FeT?Rp�}?�TF+\TeFLF�2GBG@J}JCe�F�@?C?RmE'

2BLMUUEI� OeTCm� S� DRUDLBCmp� KG� CLNBLFR\UEI� ToB?UpK?B?oR\UEI�N?EBmoCm�WLDEJCJ'�2B?F?KJEID\�TomBOL�FDmf��ToB?�EL�L@eCmMm�'�<GKGEID\�?oRmO�eOBL�CDIO?Q?�S�N?RIDIO?Q?�CLDGRGCC\'<Dm�W?R?FmOJp�TKLECm�C?DJEJ�ToB?Up�*�TLBGfDEB?FLCm'�2?�DGRLHFmKoeFLUEID\�N?NJDJ�H?BmF�EL�EGLEBLRICJH�QeBEOmF'

_mEJ� B?oR\EI� D?om� KGBGF+\Cm� Be�CJMmp� OeRG@GEJp� NmDE?RmpQBLUEID\�F�FmSDIO?g�FmKoeFLUEI�FNBLFJp�CLTCLWLUEI�D?om�W?E?FJHpD?EGCCJH'�7?O?@�NmTCm�G�NmKRmEOJ�2GBG@J}JCJ�DEF?BJRJ�CLFmEIDF?U� D?ECUp� m� �HCmS� D?EGCCJS� TeDEBmWLFD\� Tm� DNBLF|Cm@JD?EGCCJ@J�528g�XeBRLO?Up�6BJRLWG@p�/LDEmFO?Up�bB?@GCO?@'2B?�MU�D?ECU�NmKRmEOmF�N?FJCCm�oRJ|WG�CLNJDLEJ�RUKJp�}?TLRJ�JRJD\� F� 2GBG@J}JCmp� o?� \� CGTLoLB?@� FmKmS�?F� CL/G@OmF}JCe'

���

..�OFmEC\p�F�CGKmRUp�OeTI@JCDIOL�o?�FOL�CLNLRL�CL�NBJDmR?O/LTOJ'�1oDEBmR\F�J�?KCe��HLEep�FoJRL�DEBmRIM\�T�46<�S�NmS@LRL?KC?Q?�BLCGC?Q?'�<mK�E?Q?�WLDe�MmOLFRUD\�EmfU�o?�FO?U�S�H?K|eCL�TLDmKOe�CL�DGR?�7?TNeEE\'��?o�TL@LCJEJ�F?B?QLp�CLOLTeUN?BFLEJ�EGRG~?CCm�KB?EJp�B?TBLH?FeUWJ�CL�EGp�}?�EGRG~?CmDEJNBJSKeEI� �H� CLNBLFJEJ�NmK� ?H?B?C?U�Mmf�� o?�FOJ'� 0J@� WLD?@

qn.

NBJS�RJ� EmRIOJ� EGRG~?CmDEJp� ?ToB?fCm� Be�CJM\@J'� 0?|� CGB?TO?CDNmB?Fef@?D\�S�WGOLf@?�KLRm'

1KC?Q?�KC\�CL�m�DEmSOJ�LBG�EeFLRJ�CL�K?B?Tm�K?�DGRL�6'@?R?Kep�N?j@mDIOJ�?K\QCGCe�|mCOe'�<?CL�?N?FmKLRLp�}?�SKG� TDGRL�0JB\FJ�K?�DF?f��EmEOJp�OBLFWJCm�F�DGRm�6'�:LTFLCL�OBLFWJC\NmKEFGBKJRL� ?N?FmKLCC\� LBG�E?FLC?�p� LRG� DeDmKJ� TLNGBGWJRJpCmoJE?�M\�OBLFWJC\�@Lf�DF?\OmF�e�0JB\Fm'�̀ �CLoBLF�NGBGO?CLCC\p}?�M\�|mCOL�*�B?TFmKCJM\�N?RIDIO?Q?�NmKNmRR\p� T� \OJ@� E?Km@J�}G�oeRJ�CL�F?fCCmS�DE?Nmt�KGHE?�NB?N?CeFLF����TFmRICJEJ'

7m�LUD\�TB?oJEJ�?KCe�DNB?oe'�4L@G�T�RmDe�NBJ�HLF�N?oJEJSN?R\OL@J� DELB�JS� oeRLFCJS� PBeo'� V?Q?� FJQR\Kp� T?OBG@L�LNOLjB?QLEmFOL� CL� Q?R?Fmp� @?QRJ� B?oJEJ� FBL|GCC\p�}?� FmCN?R\O'�0?|�e�DeDmKCmS�Om@CLEm�B?oRU�T�CJ@��K?NJE�p��o+U�p�FmCDE?QCGp�?NmDR\�|�OJKLU�S?Q?�TF+\TLC?Q?�K?�Om@CLEJp�KG�oeRL�M\|mCOL'�0eE�F?CJ�B?TQ?F?BJRLDIp�F?CL�S?Q?�B?TF+\TLRLp�m�WGBGTK?oe� F?CJ� NR\CeUEI� FEGWe'� <?CL� DF\E?� N?FmBJRLp�}?� FmC�*TR?FRGCJS� F?\OL@J� �NRUE?C?FJS� 86�'� 1omM\f� oLQLE?B?TOLTLEJp� O?RJ� oeKeEI� TL� DGR?@'� <EmOLUEI'� 5� RmDm� |mCOLNBJTCLfEID\p�}?�F?CL�*�TF+\TO?FL�86�4\CmO�*�2GBG@J�RIpTCLf�FDm�TF+\TO?Fm�NeCOEJp�oLQLE?�WRGCmF�86�F�4\C?Mmp�/m�CmSp0JB\Fmp�7?TNeEEmp�6eTI@JCmp�XmBWm�S�2GBG@J�Rm'�4UKJ�NBJS�RLB?TFmKLEJ�CL�m�DJRJ'�2?KLf�ORJWOJp�L�E?Km�PBeo����LBG�E?Fef�SNBJF?KJEI�CLTLK�K?�@GCG'

0GNGB�F?CL�F|G�FDG�B?TOLTLRLg�N?KLRL�DHG@e�?BQLCmTLMm�p�DJDEG@eTF+\TOmFp�ORJW?Op�NGBDNGOEJFJ��H�B?o?EJ�E?}?'�1N?FmRLp�}?�oeRL�FCm@GMIOJHp� o?RI�GFJMIOJH� BeOLHp� LRG� CmKG� CG� TBLKJRL'� 2mKCLSomRI�J@J� E?BEeBL@J�CmW?Q?�CG� DOLTLRL�op� L� EGNGB� Q?F?BJEIE?@ep�}?�DL@L�DGoG�FJKLRL'�4NJDeU�NB?E?O?RJ�S�FmKDJRLU��K?Q?BJ�'

>T�TmTCLCI�Mmf��B?TFmKCJMm�K?FmKLRJD\�@Jp�}?�KG\Om�N?RIDIOmNmKNmRICm�ORmEJCJ�DELFJRJ�D?om�TL�TLFKLCC\�BLT?@�mT�WGBF?CJ@Jo?�FOLB\@J�FJCJ}eFLEJ�CL�JH�RUKGS'�0JD\Wm�CL�JH�HR?NMmFm�KmFWLEp�*�TQmKC?�T����TmTCLCC\@Jp�*�}?�FGBELRJD\�T�B?o?EJ�F:m@GWWJCm� T� eOBL�CDIOJ@J� K?Oe@GCEL@Jp� oeRJ� TL� 4\C?@FJ@?BK?FeFLCm'� _R\� TL?H?EJ� K?� MI?Q?� KmRL� K?TF?RGC?� oeR?oLCKJEL@� TLoJBLEJ� FDG� @LSC?p� TCLSKGCG� NBJ� TL@?BK?FLCJH'�m�~LOEJ�NmKEFGBKJRJ�CL@�ELO?|�eOBL�CMmp�}?�NB?KmDELRJD\�CLCL�� EGBGC� TL� K?N?@?Q?U� N?RIDIOJH� K?Oe@GCEmFp� \Om� F?CJFJB?oJRJ� D?om� F� 2?RIDIO?@e� dGBF?C?@e�ABGDEm� F� 6BLO?Fmp6LE?FmMLH�m�dGCDE?H?Fm'

qn�

���

<mK�KG\O?Q?�WLDe�CL�CL�?@e�EGBGCm�DELRJ�CL�J@�DGR\CL@NB?NLKLEJ� O?B?FJ� S� O?Cm'� P� FmK?@?DEGS� FJH?KJR?p�}?� F� eDmHEJH� OBLKm|OLH� f� NGFCLp� DOLTLEJ� op� DJDEG@Lp� EL�}?� TL� CGUOBJfEID\�K?oBG�T?BQLCmT?FLCL���LSOL��TR?Km�F'�PLH?K|e�K?�DGRL6'p�K?�?KCmf��HLEJ�NBJ�K?B?Tmp�S�B?oRU�EL@�mT�HR?NM\@J�TLDmKOe'1KCmf��C?Wm� TLNBJ@mWef@?�F�N?Rm�N?@m|�HLEL@J�NmK?TBmRm� EmCm'VKG@?� DRmK?@� TL� CJ@Jp� TLR\QLf@?� F� DLKm� S� oLWJ@?p� \O� \OmDIRUKJ�NmKOBLKLUEID\�K?�DELSCm'�PL�KG\OJS�WLD�FGKeEI�O?B?Fe'0?Km�@J��H�?E?Wef@?�m�R?FJ@?�EBI?H�?ToB?fCJH�@G�OLCMmF�MI?Q?|�DGRL'�_F?H�TjN?@m|�CJH�N?R\OJp�?KJC�eOBL�CGMI�*�aFLSRJO'<mK� CJH� @J� K?FmKLRJD\p� }?� F� EGBGCm� N?@m|� 4\C?O?@� m2GBG@J�RG@�N?WGBGT�6eTI@JCe�S�XmBWe�Kmf�TR?KmSDIOL�DmEOLpT?BQLCmT?FLCL� CL� TBLT?O� NmKNmRIC?�� ?BQLCmTLMm�'� 5� DORLK� Mmf���LSOJ�p�}?�@LRL�DF?��TF+\TOJp��EL~GECm�RmCm�p�DEBmWCm�NeCOEJpORJWOJp�eFmH?KJRJ�N?R\OJ�T�=1p�m�E?�@LS|G�T�eDmH�DELCJMI�CLCL�?@e� EGBGCm'� <?CJ� N?ELSOJ� NGBGK� o?RI�GFJOL@J� S� 5X2EBLCDN?BEeFLRJ�HeK?oep�O?CGSp�}?� �H� TLoBLRJ�Lo?�N?OBLRJ�FeOBL�CDIOJH� DGRLH'� _?� Mmf�� B?o?EJ� F?CJ� NBJE\QRJ� EG|� EBI?HeOBL�CMmF�mT�DGRL�6BGM?FL'

���

1KC?Q?� FGW?BL� ToJBLU� W?Ee�46<� m� DFmS� FmKKmR� EL� RmDL@JNmKDeFLUD\� K?� DGRL�6eTI@JCJp�}?o� NGBGFmBJEJp� WJ� N?RIDIOLomRI�mDEI�F�MI?@e�DGRm�CG�OBJFKJEI�@mDMGFJH�eOBL�CMmF'�=m|�DGRL@J6eTI@JCL�*�7?TNeEE\�omR\�@RJCL�NGBGEJCLf@?�EGRG~?CCm�KB?EJS�NBLFJ@�oGBGQ?@�N?E?OL�NmKDeFLf@?D\�CLK�DGR?'�2mK�WLD�NGBGH?KeQeDE?U�D@GBGWJC?U�O?EB?@eDI�mT�F?\OmF�46<�KTGCIOCeF�KJDO'�<RmDm�oeF�F?B?|JS�NmKDReHp�}?�N?DEBmRL@J�TLLR\B@eFLF�DGR?'�=JNBJDELCeRJ�CLNB?EJ��O?RJ�@m|�ALReNOL@J�S�=LMeQ?F?U'�<?B?QpTLLR\B@?FLCJSp� TLSC\F� ?O?NJ� FTK?F|�DGRL�S�N?WLF� DEBmR\EJ� FCL�e�DE?B?Ce'�VKG@?�RmD?@�DEBmRGMIOJ@�QeDLO?@�m�FJE?R?Wef@?�JB?Oe� DEG|Oe'� :L� \RJMm� WmNR\U� OLBEOe� T� CLNJD?@g� �=JNBJH?KJRJ� NGBGFmBJEJp� WJ� CG� KmfEID\� OBJFKL� eOBL�CM\@'2GBGDEGBmQLf@?�?DELCCmS�BLT�*�NGBGDELEJ�NGBGDRmKeFLEJ�@mDMGFJHQ?DN?KLBmFjeOBL�CMmFp�o?�FLD�TCJ}J@?'�6LBL�WGOLRL�o�FLD�e|G�Mmf�C?Wmp�LRG�FLD�FJNB?DJRJ�@mDMGFm�eOBL�CMm�'

_LRm� @LB�ef@?� CL� DGR?� /'p� }?o� m� EL@� NGBGFmBJEJp� \ODELFR\EID\�@mDMGFm�N?R\OJ�K?�eOBL�CMmF'�=mDMGFm�eOBL�CMm�CLD

qnZ

FNGFCJRJp� }?� o?�FOLBm� EB?HJ� NGBGDELRJ� �H� NGBGDRmKeFLEJ'4ELE?WCm�m� Q?DN?KLBmjN?R\OJ� KoLRJ� NB?� EGp� }?o� mC�m� CGOBJFKJRJ�eOBL�CMmFp�oL�CLFmEI�DELFLRJ�F��HCmS�?o?B?Cm'

:L�L�N?\FL�CLK�DGR?@�NmKoLKI?BJRL�eOBL�CDIOG�CLDGRGCC\pL�CL�F?B?|JH��?FmCmDEmF�N?Km\RL�\O�NGBGDE?B?QL'

���

1KC?Q?�N?QmKC?Q?�EBLFCGF?Q?�KC\�BmS�46<�OFLBEJBeFLF�eKF?H� HLELHp� }?� CL� DOBL�� RmDe� CL� XBJ|mFDIOm@'� `O� Mm� HLEJCLTJFLRJD\p� F|G� CG� NL@+\ELU'� <?CJ� RG|LEI� @m|� NBJDmROL@J7?NLp�<?R\�EL�DGR?@�/'_'�=J�DL@G�OFLBEJBeFLRJ�CL�Q?Bo?WOeomR\� CL�?Q?� MFJCELBJOL'� <BLT� omR\� HLE� N?WLRLD\� DJRICLDEBmR\CJCL'�PCLWJEIp�CLDOLOef�F?B?Q'�XmQEJ�CL�K?N?@?Qe�NmTC?po?� |� EBGoL� NB?SEJ� RmD?@� \OJH� KFL� OmR?@GEBJ'� 0?|� OL|eOeRG@GECJO?Fm�FJDEBmRJEJ�KGOmRIOL�WGBQ�mT�OeRG@GEL�F�CLNB\@mpTFmKOJ�NBJoRJTC?�DEBmR\f�F?B?Q'�1NmDR\�?oGBG|C?�N?DeFLf@?D\K?�HLE'�2GBGR\OLCm�Q?DN?KLBm�?N?FmKLUEI�CL@p�}?�RmD?@�NmKmS�RJ\OJH�D?B?O�N?RIDIOJH�F?\OmF�m�?oDEBmR\RJ�OeRG@GECJ@�F?QCG@HLEJ'�7mS�46<p�}?�NGBGoeFLF�E?Km�CL�MI?@e�@mDMmp�TLRmQ�F�?KCmSDELSCm�S�DmC\H�EL�N?WLF�FmKoJFLEJD\'�8RG�N?R\OJ�FEGORJp�O?RJN?TLKe�DGoG�N?WeRJ�WGBQJ�CL�?Q?�OeRG@GEL'�AE?�ELO�NBJE?@C?O?@LCKeFLF�B?f@�46<p�F|G�CG�NL@+\ELU'�2?R\OJ�@LRJ�?KC?Q?FoJE?Q?�S�?KC?Q?�N?BLCGC?Q?'

���

4?EC\�OjBL�XeBRLOJ�FH?KJRL�e�DORLK�OeBGC\�OjBL�7GCLp�}?NGBGoeFLF�CL�/G@OmF}JCm'�2mK�WLD�NGBGH?Ke�~B?CEe�S?Q?�D?EC\CLRmWeFLRL�N?CLK�.���omSMmF'�d?EL@J�O?@LCKeFLRJ�W?E?Fm�/GFO?pXLBEGRI� m� 1@GRIO?'� <DmH� HF?BJHp� BLCGCJHp� N?@?B?|GCJHTKG@?omRmT?FLC?'� P� FGDC?U� qkZ[� B?Oe� XeBRLOL� NGBGS�?F� T/G@OmF}JCJ� F�2GBG@J}JCe'� P� CJ@� NBJS�RJ� W?E?Fm� <LCIOLp/GFO?�S�XLBEGRI'�6?RJ�XeBRLOL�DELF�BLS?C?FJ@��?BQ@?o?@�pCLSOBL}L�W?EL�T�XLBEGRG@�NGBGS�RL�F�BLS?C�OjBL�bB?@GCOLpELo?BeFLRL�F�X?BmFCJMIOJH�RmDLH�m�EL@�oeKeFLRL�OBJ�FOJ'

0?Km�|�OjB?Fm�bB?@GCO?Fm�EBLNJRLD\�NBJOBL�NBJQ?KL'�1KCLS?Q?�W?EL�DJKmRL�NmK�WLD�?oRLFJ�N?RIDIO?Q?�FmSDIOL�F�OBJ�FMmpFJDELFJF�J� DEmSOe'� 6?RJ� NmKmS�RL� F?B?|L� B?TDEBmRICLpDEmSO?FJS� N?omQ� K?� OBJ�FOJp� L� TL� CJ@�*� N?R\OJ'� PLDO?WGCm

qn[

DEBmRIMm�KLRJ�DGoG�FJE\QEJ�|JFMG@�mT�TG@R\COJ'�0mRIOJ�KF?HN?DEBmR\RJD\� WJ� E?� B?TmBFLRJ� DGoG� �BLCLEL@Jp� CG� H?E\WJN?NLDEJ� F?B?Q?Fm� F� BeOJ'� _F?f� mC�JH� FmKoJFLRJD\� Ke|GH?B?oB?p�?KJC�TLDEBGRJF�N?RIDIO?Q?�N?BeWCJOLp�L�O?RJ�N?R\OJTLDJNLRJ� �H� �BLCLEL@Jp� TLH?FLFD\� DGBGK� N?R\QRJH� m� FKLFLFCG|JF?Q?'�<mC�?KJC�TjN?@m|�..�DEBmRIMmF�FB\EeFLFD\�m�DORLF�TMmf��N?Km��TFmE'

2mTCm�G�NBJS�RL� mCDEBeOMm\�omRI�J@�FmKKmRL@�CG�H?FLEJD\NGBGK�?oRLFL@J�m�EmRIOJ�T�o?f@�NB?oJFLEJD\�OBmTI�F?B?|m�B?TDEBmRICm'

�?� DELR?D\� T� N?R?CGCJ@J� F?\OL@Jp� CG� TCLU'� <� 7\�GFmN?RIDIOG�CLDGRGCC\�oLWJR?p�\O��H�T�N?F+\TLCJ@J�KB?E?@�BeOL@JFGRJ�K?�EUB@J'

���

=?�@�oL|LCC\@�oeR?�N?DELFJEJ�?H?B?CCm�FmKKmRJ�BLS?CeCL�FJD?O?@e�mKGSC?@e�EL�o?S?F?@e�BmFCm'�XmRI�mDEI�o?S?FJOmFTCLRL�@GCG�T�528p�L�mC�JH�|G�\�NmTCLF�e|G�NmK�WLD�EGBGC?F?�B?o?EJ'�`�DGBGK�CJH�FEm�LFD\�K?oB?U�?NmCmfUp�E?@e�S�FmBJFp}?�@?\�B?o?EL�eFmCWLfEID\�K?oBJ@�FJDRmK?@'

4ELC�FmKKmRmFp�}?��H�\�FJ�O?RUFLFp�ELOJSg�NGB�JS�BLS?C*�q.�W?R?FmOp�O?@LCKJB?@�*�4?OmR'�<mC�K?oBJS�F?\Op�oeFKGOmRIOL�B?OmF�e�Cm@GMIOmS�LB@m�p�K?DFmKWGCJS'�6mRIOL�BLTmFK?� E?Q?� WLDe� NGBGH?KJF� o?RI�GFJMIOJS� O?BK?C� m� NBJNGBGH?Km�FEBLEJF�EmRIOJ�?KC?Q?�DEBmRIM\�4GBCe'�4L@�4?OmRTLQJCeF�F�_?oB?@JRI}JCm�NmK�WLD�CLDO?Oe�o?RI�GFJOmF�F|GF�qkZw�B?Mm'

_BeQJS� BLS?C�@LF� qZ� W?R?FmO'� 6?@LCKJB?@� oeF�1BGR� TmDGRL�0JD?FJ'�<mC�NmTCm�G�*�F�qkZY�Lo?�qkZn�B?Mm�*�N?NLF�eBeOJ�N?R\OL@�m�DELF�?KCJ@�mT�CLS�OmKRJFm�JH�NB?F?OLE?BmF'

0BGEmS�BLS?C�CLRmWeFLF�.q�W?R?FmOL�?H?B?CJ'�6?@LCKeFLFCJ@� CGTFJWLSC?� FmKFL|CJS� EL� mKGSCJS� NmKDELB�JCLp� ?NmDR\W?E?FJS� 528� 1DEB?FGBH'� 1DEB?FGBH� TLQJCeF� e� o?U� To?RI�GFJOL@J�qw�DGBNC\�qkZw�B?Oe�omR\�DGRL�:GKmRIC?�'

dGEFGBEJS� BLS?C� ?oDReQ?FeFLRJ� KGD\EI� W?R?FmOp� \OJ@JO?@LCKeFLF�XmD'�XeF�MG�DELBJS�NLBEJTLCp�}?�NGBGK�G�F?UFLFCL�<?RJCm'�5�DF?f@e�EGBGCm�FmC�TLFmF�TBLTO?FJS�RLKt�oGTNGOL�FCI?Q?�oeRL�CLSOBL}L'�<mC�?NmDR\�O?@LCKeFLF�CL�/G@OmF}JCmp�LF�qkZn�B?Mm�NGBGS�?F�TC?Fe�CL�<?RJCI'

qnY

2+\EJS� BLS?C� @LF� FmDm@� W?R?FmOt� NBmTFJ}L� O?@LCKJBL?H?B?CC?Q?� FmKKmRe� F|G� CG� NBJQLKeU� D?om'�2L@+\ELU� EmRIOJp}?�\�K?KLF�S?@e�}G��mDEI?H�DEBmRIMmFp� ?E|Gp�MGS�FmKKmR�@LF?DELE?WC?�qZ�W?R?FmO'

PCLWJEIp� \� @LF� TLFKLCC\@� FJ�O?RUFLEJ� F� @?f@e� EGBGCmN+\EI� QBeN� EGBGC?F?�� ?H?B?CJp� BLT?@� nq� o?S?FJOp� NmKO?@LCKeFLCC\@�N+\EI?H� O?@LCKJBmF'�:LSOBL}JS� GRG@GCE� oeFe�NGB�?@e�BLS?Cm'�:LSo?S?Fm�JS�m�CLSOBL}G�FJ�O?RGCJS�*e�EBGEI?@e'�<�WGEFGBE?@e�BLS?Cm�NBLMUFLRJ�CGDJDEG@LEJWC?':LSDRLo�JS�oeF�?H?B?CCJS�FmKKmR�N+\E?Q?�BLS?Ce'

.�WGBFC\�DmKLU�CL�DF?Q?�O?CJOL� m� �Ke�F�WGEFGBEJS�BLS?CTB?oJEJ� FmKNBLFe� EL� NGBGFGDEJ� EBJKGCCm� FNBLFJ� T� EL@?�Cm@?H?B?CCJ@�FmKKmR?@'�9Ke�N?WGBGT�X?BmFCJMIOJS�RmD'�4GR\CJ�mTDGRL�X'p�N?oLWJF�J�@GCGp�BLKmUEIp�o?�DL@m�o?\RJD\�oeEJ�F�N?Rm'6?RJDI� CGoGTNGWCL� KR\� CL�?Q?� CLDGRGCC\p� X?BmFCJM\� EGNGBQReHLg� DGR?� TLB?DR?� oeSCJ@J� EBLFL@Jp� oeB+\C?@p� oeK\OL@J�SOB?NJF?U'�<mEGB�FB\KJjQ?KJ�TLC?DJEI�D?NeH?@�FmK�CGN?H?FLCJH}G�T�WLDe�o?U�F?B?|JH�EBeNmF'

<�RmDm�TeDEBmWLU�W?Ee�528'�:L�TLDELFm�DL@m�CLKKCmNB\CMm'AR?NMm� Ee|LEI� TL� DF?�@J� DE?B?CL@J'� 2B?D\EIp� }?o� �@B?TN?FmDEJ� �}?DI� mT� N?RmEJOJ�p� S� NJELUEIp� WJ� CG� @?QRJ� oF?CJ� NGBGSEJ� CL� 4HmK'� 2mDR\� KF?H� EJ|CmF� N�\EI?H� �H� ELOJFJoBLRJD\�EeKJ�mT�ToB?fU�F�BeOLH'�1H?B?CCJS�FmKKmR�TeDEBmWLUF�DGRm�<'�<'�0eE�\�TeDEBmF�m�BG~GBGCEL�oGTNGOJ�8BOLKm\p�}?�CLN?NGBGKCI?@e� QGCGBLRIC?@e� FJ�O?Rm� FJDEeNLF� NmK� NDGFK?@�X?BJD�'�<KGCI�NB?F?K|e�FNBLFJp�L�CLKFGWmB�8BOLKmSp�XmD�m�\�KG@?�FGBHJ�CL�O?C\H�CLF@LCC\�N?R\@J�S�RmDL@J'�A?We�NmTCLEJ?O?RJMUp� @?|Gp� MG� @GCm� NBJQ?KJEID\'� 0m�JEI� @GCGp� }?CLoJBLU�DJR�e�NLRIM\H�NBLF?��BeOJ'�6?CG@�oGBe�NGBG�O?KJpDOLWe�N?WGBGT�NLBOLCJ�S�KB?EJp�L�TL�@C?U�8BOLKmS�m�XmD'�:LFJD?OmS� Q?Bm� oLWe� FGRJOJS� oGBGT?FJS� HBGDEp� L� omR\� CI?Q?DEBmRGMIOm� @?QJROJ'� 0LO� NGBG�|K|Lf@?� DGRL� `'� m� 2'� ELN?FGBELf@?DI�CLTLK�K?�FmKKmRe'

1KCmf�� C?Wm� SKG@?�NGBGFmBJEJ�CL�m� DEmSOJ� �CL� O?BK?Cm�'6mR?@GEB� NGBGK� DGR?@�4'� DE?�EI� CL�L� �B?QLWOL�p� L� F� Oe}LHCL�m�DEmSOJ'�2?RIDIOJH�DEmS?O�CG�FJKC?'�<GBELUWJDIp�TLH?KJ@?K?� DGRL� <'p� TL@?|C?Q?p� T� OmRIO?@L� @eB?FLCJ@J� KF?BL@J'PLH?KJ@?�K?�WJELRICm�N?DReHLEJ�NB?oJ�H?Bep�}?�NmK�?H?B?C?UCL�?��ToB?��DN?OmSC?�FGKG�DF?U�NBLMU'

qnn

[�WGBFC\�FBLCMm��KG@?�FTK?F|��O?BK?Ce�'�<mK�DGRL�:GFmDEOJN?DJNLFD\� CL� CLD� OeRG@GECJS� F?Q?CI'� 2BJR\QLf@?p� ?NmDR\oGBG@?� O?Cm� S� N?E?O?@� FJ�|K|Lf@?� CL� Q?Be'�2?DJRLf@?� N??H?B?CCJS�FmKKmR�m�FmKOBJFLf@?�OeRG@GECJS�F?Q?CI�N?�DGRm'�2mKFGWmB� KmFWJCL� NBJCGDRL� TFmKEJ� FmK� @mDMGFJH� N?R\OmF� RJDELp� F\O?@e�F?CJ�NB?D\EI�omRI�G�CG�DEBmR\EJp�o?�?omM\UEI�CLD�omRI�GCG�WmNLEJ'

2?� EBI?H� KC\H� FJ�O?Re� FGBELUD\� K?� DGRL� /'� _?� @GCGTFGBELfEID\�=LBmWOL�T�NB?HLCC\@p�}?o�\�CLFWJF�KmFWLE�T�KmF?W?�NmKNmRIC?��@GBG|m�F?R?KmEJ�ToB?fU'�<�@mDMGFmS��O?Rm�TmoBLR?D\�H�EBJKM\EI�m�?WmOeUEI�@GCG'

w*qq�WGBFC\�NGBGF?K|e�FJ�OmR'�=GCG�Ke|G�@JR?�FBLTJRLNJRICmDEIp� ?o?F+\TO?FmDEI� m� OLBCmDEI� KmFWLE'� <mSDIO?FL� DNBLFLTLmCEGBGDeFLRL��H�ELOp�}?�NBJ�O?|CmS�CLQ?Kmp�NmK�WLD�NGBGBFJpFFGWGBm�NBJ�FLEBm�?oDEeNLUEI�@GCG�S�TLDJNeUEI�NJELCC\@J'

_R\� TLNBLFJ� NGBGF?K|e� N?RI?Fm� FNBLFJ� NmK� WLD� K?}e'� `Ke@LFp�}?� K?}p� o?R?E?p� B?DLp� N?OLRmWGCm� NLRIMm� FmK� Q?DEBJHEBLFp� oeK\OmFp� N?KGBEm� N?� Oe}LH� EGBCJCJ� BeOJ� S� C?QJpTLo?R?WGCC\� m� FE?@L� FJORJWG� F� CJH� TCGFmBe'� 0J@� WLD?@� FDmF?CJ�\O�?KCL�FJEBJ@LRJ�NB?oe�TCL@GCJE?'

<?R?KmCC\� ToB?fUp� ELf@CJMm� BmTC?Q?� B?Ke� NmDE?RmFpBe�CJMIp�KGD\EJTLB\K?Op�OeRG@GEmF�B?TOBJFLU��@�T�K?N?@?Q?UOmRIO?H�DEBmRIMmF�T�?H?B?CC?Q?�FmKKmReg�Em�B?ToJBLUEI�ToB?Upo?�\�DF?�@J�BeOL@J�MI?Q?�DL@�B?oJEJ�}G�CG�@?|e'

1KCmf��C?Wm�NGBGFmB\U�DEmSOe�T�KmFWLE'�P�KF?@L�DEBmRIM\@JNmKN?FTLU� K?� DEmSO?F?�p� oeRL� MGp� TKLfEID\p� XJDEBL� T� DGRL�6'4EBmRIMm� Te@JDCG��GN?WeEI� N?@m|� D?o?U� N?jN?RIDIOJp� L� \pNGFCJSp�}?� KmFWLEL� CG� @LUEI� ToB?�p� OBJWe� TjNmK� \RJWOJ� N?jN?RIDIOJg� �7eOJ� FQ?Be��� <BLT� NLKLf� N?DEBmRp� m� \� om|ep�}?oNGBGFmBJEJp�HE?�DEBmR\f'�<J\FJR?D\p�}?�KmFWJCL�oeRL�?ToB?fCLNmDE?RG@p� NB?� \O?Q?� \� CG� TCLFt� \RJM\� FB\EeFLRL�@GCm�|JEE\'8R\B@p�}?� S?Q?� FJORJOLF� N?DEBmRp� FJ\FJFp�}?� KmFWLEL� oeRJCLN?Q?E?Fmp� o?� TLBLT� ELOJ� oeRJ� TmoBLCm� K?� @LB�e'��G� @GCGFNGFCJR?p�}?�T�CL�JH�KmFWLE�DRLFCm�F?\OJ'

���

<mK�KG\O?Q?�WLDe�N?�CL�JH�RmDLH�OBeEJEID\�o?RI�GFJMIOLo?�FOL�NmK�O?@LCKeFLCC\@�OLNmELCL�T�AJB?FL'�6LTLRJp�}?�MGSOLNmELC� TL� Cm@MmF� NGBGoeFLF� F� 528� m� EGNGB� NGBGS�?F� K?

qnw

o?RI�GFJOmF'�`OG�oeR?�S?Q?�NDGFK?p�CG�NL@+\ELU'�<mC�BLNE?F?N?\FR\FD\p� CLDOLOeFLF� m� }GTLF'� 1ELO� omR\� DGRL� 6?NJDIOLCLDO?WJF� CL� OFLBEJBe� KGOmRIO?H� DEBmRIMmFp� m� T� CJH� NmK� WLDNGBGDEBmROJ�?KJC�TLQJCeF'

`��eOLU�DRmKmF�Mmf��o?�FOJp�LRG�N?OJ�}?�oGTeDNm�C?'<� WGBFCm� CL� EGBJE?BmU� �jQ?� BLS?Ce� NBJS�RL� D?EC\

OjBL�XeB?Q?t�NGB�L�W?EL�oeRL�NmK�O?@LCKeFLCC\@�W?E'�1RmSCJOLTm� DGRL� 0LBCLFJ�:J|CI?�� F� 4\CmWWJCmp� L� KBeQL� W?EL�*� NmKO?@LCKeFLCC\@�W?E'�b?Bo?F?Q?�T�b?B?KGWWJCJ'�<?CJ�NBJS�RJF�MGS�EGBGC�FmKN?WJEJ'

<�MmS�D?ECm�EBLNJRLD\�N?Km\p�KR\�N?RLKCLCC\�\O?��\�KmDELFK?BeWGCC\�NmEJ�K?�D?E'�XeB?Q?p�}?�NGBGoeFLF�e�DGRm�_'�V�R?D\NB?� D?EGCC?Q?� DLCmELBL� bB?@Lp�}?� CLNmKNJEOe� CLDO?WJF� CLCL�e�TLDELFe�mp�CG�TCLUWJ�ORJWOJp�N?WLF�DEBmR\EJp�O?RJ�TLDELFLS?Q?�TLEBJ@eFLRL'��G�S�?N?FmF�@GCm�D?E'�XeBJSp�K?KLUWJp�}?N?KmoCL�mDE?Bm\�EBLNR\fEID\�T�bB?@?@�CG�BLT'�bBm@p�Lo?p�\O�FmCCLTJFLFD\�F�CLDp�XeRIoLp�@LF�e�_B?Q?oJWm�FRLDCJS�BGDE?BLC�mNGBG|JF� B?KJCCe� EBLQGKmU'� P� Emf�� NBJWJCJ� FmC� WLD� FmK� WLDe�TLRJFLf�HB?oLOL��S�E?Km�TWJC\f�oG�OGEJ'�P�FmKKmRe�CG�H?EmRJS?Q?�N?ToeEJD\p�o?�O?RJ�o�Nm�?F��e�EGBGC�p� E?�NB?NLF�oJ'�PKBeQ?��|� DE?B?CJp� FmC� TCL@GCJEJS� DLCmELB� m� CG� ?KC?Q?� F|GFJRmOeFLF�T�FL|OJH�BLC'�2mDR\�O?|C?Q?�ELO?Q?�oG�OGEe�TLF|KJ?omM\f�N?NBLFJEJD\p�o?�FmC�FKLWGU�K?oB\QLp�\Op�TBG�E?Up�O?|GCDJRLW'�8�DJRLW�FmC�oeF�DNBLF|CmSg�N+\DEeO?@�NGBGoJFLF�MF\HN?WGBGT�K?�Oe�E?F}JC?U�F�KFm�N+\Km'�<�BeOLH�BFLF�RLCMUQp�LKF?f�O?CGS�CG�B?TmBFLRJ�S?@e�TWGNRGCJH�BeO'

P�E?Q?�FDI?Q?�\�TB?Te@mFp�}?�@GCm�CmW?Q?�FDEB\FLEJ�F�MUDNBLFe'� <?CL� CLRG|JEI� K?� FmSDIO?F?Q?� DeKe'� 0LO� EG|� TFmEeU�K?Q?BJ�'�0eE�EmRIOJ�H?We�?N?FmDEJ�NB?�K?RU�MI?Q?�bB?@LjXeRIoJ'

<mC�oeF�?NmDR\�DLCmELB?@�CL�/G@OmF}JCmp�F�KBeQ?@e�BLS?Cm'aNJELRICe� S� DLCmELBDIOe� DNBLFe� N?DELFJF� EeE� \OCLSOBL}G':LDGRGCC\�S?Q?�Ke|G�RUoJR?p�o?�RmOeFLF�eDmH'�<mKFL|CJS�oeFEG|'�1KC?Q?�BLTe�D?EC\�NmK�WLD�LR\B@e�FmKDEeNJRL�F�RmDp�L�FmCDL@�NGBGoJFD\�N?WGBGT�o?RI�GFJOmF'�8RG�O?RJ�NmKNJF�D?omp�oeFoGTFmKN?FmKLRICJS'�1KC?Q?�BLTep�@LUWJ�|LRI�K?�OjBL�7GCL�TLEGp�}?�E?S�CG�NBJC\F�S?Q?p�FmBCm�Gp�DH?FLFD\�NGBGK�CJ@p�O?RJFmC�H?EmF�N?|LRmEJD\�7GC?Fm�CL�\OGDI�OBJFK\WGp�CL�S?Q?�Ke@OepK?CGDGCC\p�NmKNJF�D?om�F�DGRm�0F?BJRICG�EL�N?WLF�QLC\EJD\�TL7GC?@p�}?o�S?Q?�TLDEBGRJEJ'�PC?Fe�|�e�DGRm�6?oJRIDIOG�TLQCLF

qnk

N?jN+\C?@e� K?� HLEJ� oGTB?Qep� FoJF� ��� WGBQ?U� T� @L�JC?F?Q?NmDE?R\p� DmF� CL� CG�� EL� N?WLF� FJQeOeFLEJ'�2mK� WLD� E?Q?� \O?DIN?QLDR?�DFmER?'�2BJS�?F�B?S'�bLS?FJS�DFmEJEJp�L�bBm@�K?�CI?Q?oGBGEID\�T�NmDE?R\�DEBmR\EJ'�8|�@LRJS�@?R?KGCIOJS�DEBmRGMI2?OmBCJSp�|LBEeUWJ� T� bB?@?@p� CGN?@mEC?� B?TToB?�F� S?Q?� mFCG�OmKRJFJF'

8RG� ELOm� N+\Cm� |LBEJ� XeRIoJ� FBG�Em� @eDmRJ� KR\� CI?Q?DOmCWJEJD\� CG}LDRJF?'�1KC?Q?� BLTep� TC?Fe� CG� NL@+\ELUWJDIpDELF� FJ@LQLEJ� FmK� DEBmRIMmFp�}?o� F?CJ� QCLRJ� NLDEJ� F� Tom||mHeK?oe'� 6?RJ�|� F?CJ� S?Q?� CG� N?DReHLRJp� XeRIoL� DEBmRJF� K?B?S'�<GBH?FJCM\'�0?Km�MGS�TB?oJF�T�CJ@�OmCGMIp�FJDEeNLUWJ�eFRLDCmS�?o?B?Cm'�A?W�@LS|G�FDm�|LRmRJp�}?�bBm@�DOmCWJF�ELOCGDRLFC?p�NB?EG�oeR?�\DC?p�}?�FmC�oeF�DL@�D?om�FJCGC'

6?RJ�\�bB?@L�FNGB�G�TeDEBmF�*�e�D?ECm�XeB?Q?p�FmC�oeFKe|G� RUoRGCJS� m� N?EBmoCJS'� AR?NMm� oeRJ� TomK?FLCmpFJQ?R?K|GCmp�L�KG\Om�NB?DE?�ELOJ�CGo?fTKLECm'�<�CL�?@e�EGBGCmD?EC\�FmK|JFJRLD\p�KmDELRL�?K\Qp�omRJTCe'�0?Km�|�mT�D?ECGU�oeFEG|�OjB�XmB'

<mKN?WJF�J� S� FmK|JFJF�JDIp� D?EC\� N?FGBCeRLD\� CL/G@OmF}JCe�mp�\O�\�WeFp�TB?oJRL�CLDO?O�CL�beWLFep�?NmDR\�@LRLDeEJWOe�T�o?RI�GFJOL@J�CL�Q?Bm�ABG}LEmS'�0?Km�TLQJCeF�?KJCDEBmRGMIp� L� W?E'�1RmSCJO� oeF� FL|O?� N?BLCGCJS� m� CGTLoLB?@N?@GB'�PQ?K?@�D?E'�XeBJSp�@LF�J�CGN?B?Te@mCC\�T�OGB@LCJWG@EL@?�CI?Q?� NmKNmRR\� P?BJWG@p� FmKmS�?F� T� W?E'��BWGCO?@� mW?E'�XmRJ@�CL�T?Ce'

���

2mDR\�OLNmEeR\Mm��:m@GWWJCJ�2GBG@J}JCL�NGBG|JRL�}GBLT�NGBG@LB��D?FfEDIOJH�LB@mS'�2m�RJ�oLRLWOJp�}?�NBJ�EmSCLQ?Km� oeKeEI� NB?WJ}GCm� RmDJ� S� DGRL'� 1KC?WLDC?� Nm�RLN?Q?R?DOLp�}?�DOBmNRGCm�N?RIDIOm��LBCmT?CJ�B?TN?WCeEI�NB?EJCLD� Km�'� 0J@� WLD?@� NGBG@LB�� D?FfEDIOJH� FmSDIO� FmKoeFD\N?BmFC\C?�@JBC?'�AFJR\�FmSDIO�NGBGO?EJRLD\�N?WGBGT�DGRLp}?� omR\� �?DG'� >� Mm� DGRL� N?EGBNmRJ'� >�RJ� EG|� T+fKCLCC\K?CDIOJH�m�OeoLCDIOJH�O?TLOmF'�1KJC�TjN?@m|�CJH�TLoReOLFK?�DGRL�6'�m�KGDI�CL�QBLoG|m�NmS@LFD\'�2BJ�HLRJ�S?Q?�E?FLBJ�mpTmoBLRJ� DGR\C� m� K?@LQLRJD\� FJKLWm� TCJOR?Q?'� 2?QB?|eFLRJDNLRGCC\@�DGRL'�4NBLFL�oeRL�EJ@�omRI��CGNBJf@CLp�}?�KG\OmTjN?@m|� O?TLOmF� oeRJ� eOBL�CMm'� 6?RJ� CLKH?KJRL� Q?KJCLp� K?

qw�

\O?�� TCJORJS� @LF� T+\FJEJD\p� m� TLEBJF?|GCC\� DGR\C� D\QLR?FGB�OLp� DELB�JCL� O?TLOmF� FJBm�JFp� }?� DGR?� CG� @?|GFmKN?FmKLEJ� TL� NB?NLR?Q?p� o?� E?S� CG� @LF� NBLFL� QBLoeFLEJCLDGRGCC\�F�NmDR\F?fCCJS�WLD'

4L@G�E?Km�\�FmKoeF�FJ�OmR�?H?B?CC?Q?�FmKKmRe�S�TL�HLF�K?DGRL�b'�XeR?�CLD�q.�FGB�CJOmF'�<�CGKmRU�qn�WGBFC\�@J�NGBG�HLRJDGR?@p�DNmFLUWJ�N?FDELCDIOm�NmDCm'�<BL|GCC\�oeR?�FGRJOG'�4GR?RG|JEI�CGKLRGO?�FmK�2GBG@J�R\p�L�F�N?oRJTIO?@e��BGKB?N?RmDE?\F�N?RIDIOJS��LBCmT?Cp�m�N?FDELCMm�N?\FR\RJD\�F�DGRm�BmKO?':L�CL�e�N?\Fe�CLDGRGCC\�FJomQR?�T�HLEp�FmELR?�mT�TLHFLE?@p�LKmFWLEL�OJKLRJ�CL@�OFmEJ'�<mKFL|Cm�m�WmNR\RJ�OFmEJ�O?C\@�ELKLFLRJ�CL@�K?�BeO'�P�eDmH�DE?BmC�CLD�TLNB?�eFLRJ�F�Q?DEJCe'

Pm�DGRL�b'��KG@?�FmKOBJEJ@J�N?R\@J�F�CLNB\@m��BGKB?N?R\'�<DGRm�6'� TeDEBmWLU�W?E'�/LDEmFOe'�2mK�2GBG@J�RG@�DGRL�oLQLEm�S}GKB?� eQ?}LUEI� N?FDELCMmFp�}G�S�CL� � K?B?Qe� � KLUEI� HLBWmF'1D?oRJF?�NB?�@GCG�KoLUEIp� L�O?|CL�@L@Lp� oLWeWJ�@?�� FDG�}GoGTN?BLKCm�BeOJp�TmKHLf'�7G~GBGCE�oGTNGOJ�=LS�T�_?oB?@JRI}JjCJp�}?� F|G� N?� D?FfEDIO?@e� o?Mmp�}?BLT� NGBGH?KJEI� O?BK?Cp?D?oRJF?p�O?RJ�S?Q?�EL@��NBJEJDCeEI�p�EL�O?BJDELf�T�Q?DEJCC?DEJMI?Q?� EGBGCe'�0eE�CG� EmRIOJ�|JFeEI� TL@?|C?p� LRG�N?FC?�FDUKJQ?E?FJH�OBJ�F?Op�}?�CJ@J�DGR\CJ�BLK?�K?TF?R\UEI�O?BJDEeFLEJD\'

P�?H?B?CCJ@�FmKKmR?@�TC?Fe�SKe�CL�FNBLFJ'��J@�BLT?@�e6eB@LCJMIOJS�RmD'�2mK�WLD�ELOJH�FNBLF�CL�L�B?TDEBmRICL�*q��W?R?FmO�*�FJS�RL�CL�@mDMG�N?DE?U�NB?F?Ke�CLKBLS?C?F?�NmKNmRIC?��@GBG|m'�4GBGK�EJH��MJFmRmF��TWJCJRLD\�NLCmOLg�FDGN?FEmOLR?p�H?W�oeR?��H���'�:LSNBJE?@Cm�JS�oeF�^FQGCj=JB?CpNmTCm�G�OeBmCCJS�N?RmEFJH?FCJO'�2?NBJ�TFJWLSCG�TQ?R?�GCC\F��G~L� CLKBLS?Cep� \O?@e� NmKR\QLRJ� FDm� ?H?B?CCm� FmKKmRJp� \@eDmF�}G�FJNBLFKLEJD\�e�DRLFC?Q?��RmOLB\��<eSOLp�NB?�\O?Q?Q?F?BJRJp�}?�FmC�FmK�OBLS?F?Q?�NB?F?Ke'

P� MJ@� �RmOLBG@�� FJS�RL� MmRL� mDE?Bm\t� TQLKLU� NB?� CG�O?B?EGCIO?'� <eSO?� @LF� FGRJOJS� ?BQLCmTLMmSCJS� HJDEp� oeFNBLMI?FJEJSp�m�S?Q?�Ke|G�N?FL|LRJ'�8RG�FDm�TFGBCeRJ�eFLQe�CLEGp�}?�FmC�K?�|?KC?��~LH?F?��RmOLBDIO?��B?o?EJ�CG�oBLFD\'�6?RJK?F?KJR?D\� B?oJEJ� ?NGBLMmUp� NB?WJ}eFLEJ� BLCJ� WJ� H?WL� ooLCKL|eFLEJp�<eSO?�TLF|KJ�FJDJRLF�@L�mDEBL�:GHBJDELp�X?QKLCeLo?� 4OLRe'� 2mTCm�G� CL� /G@OmF}JCmp� OeKJ� NGBGS�?F� m� FmCpFJDReQ?FeFLFD\� FmC� EeE� KjB?@� `OJ@?@p� KjB?@� 7LE?@p� RmOLBG@8BNLK?@p� DLCmELB?@� <?f@p� /?EL�G@p� _?BO?@� EL� mC�J@J'�:L

qwq

/G@OmF}JCm�CL�MI?Q?��RmOLB\��NGB�JS�TFGBCeF�eFLQe�KjB�7LEp�L8BNLK�TL|LKLF�DRmKDEFL�F�S?Q?�DNBLFm'�6jB�7GCp�?KCLWGp�<eSOLMmCJFp� m� \� DL@�@eDmF� T�CLOLTe�7GCL�KLFLEJ�S?@e�?H?B?Ce�*?KJC�BmS'�8|�N?�KF?H�B?OLH�N?oeEe�<eSOL�CL�/G@OmF}JCm�@JB?TOBJRJp� }?� <eSO?� Cm\OJS� RmOLBp� L� N?� TFLCCU� EmRIOJTFJWLSCJS�D?om�OeHLB'�`O�FmC�FNReELFD\�e�DLCmELBCe�DRe|oepCG�TCLU'�=LoeEIp�FmKN?FmKLRICJS�N?DE�F�EmS�KmR\CMm�FmC�TLSC\FTLFK\OJ�DF?�@�?BQLCmTLMmSCJ@�TKmoC?DE\@p�m�L|�TQ?K?@�K?�Mmf�~eCOMm��S?@e��NBJB?DR?��TFLCC\�K?OE?BL'�2B?�MGp�@?|Gp�KGHE?S� TCLFp� LRG�CG� FFL|LF� ELO?Q?�NmKFJ}GCC\�<eSOL��OmKRJFJ@WJ� CGoGTNGWCJ@g� FmC� o?�|� K?�|?KCJH�~LH?FJH� RmOLBDIOJHDNBLF� CG� FEBeWLFD\'� PLEG� T� ?BQLCmTLMmSC?Q?� N?QR\Ke� @LFoGTNGBGWC?�FGRJOm�TLDReQJ'

`�K?F�JS�WLD�NBLOEJOeFLF�e�DGRm�b'p�o?�TFmKDJ�oRJTIO?�K?2GBG@J�R\'�AR?NMm�T�MI?Q?�?H?B?CC?Q?�FmKKmRe�oeRJ�FmKFL|Cm�S?WLSKe�Cm�EL�*�\O�TFJWLSC?p�NmK@mDIOJS�GRG@GCE�*�NmKH?|m�KR\B?o?EJ�F�@mDEm'�9HCm�FJNLKJ�F�@mDE?�oeRJ�FKLRmg�WLD?@�TLDEBGRJRJ\O?Q?DI�G@�GomDELp�DGOD?ELp�T�LNEGOJ�K?oeRJ�RmOmF�E?}?'�<�CLDRmK?OMJH� KmS�@mDE?�|JR?� F� CLNBe|GCCm'� <D\OJS� TCLFp�}?� MG� BeOLeOBL�CDIO?Q?�NmKNmRR\�D\QLf�F�MGCEB�F?B?|?��LK@mCmDEBLMm�'

0eE� m� EBLNJRLD\� N?Km\p� }?� HLBLOEGBJTef� DELFRGCC\WGBF?C?LB@mSMmF� K?� N?FDELCMmF'�1KC?Q?� BLCOe� \� FDELFp�}?oN?Q?KeFLEJ�O?CGS'�<JS�?F�F�D?B?WMmp�oGT��LNOJp�LRG�T�NmDE?RG@NBJ� N?\Dm'� 6eRG@GECJO� FJS�?F� EG|� e� D?B?WMmp� N?DELFJFOeRG@GEL� CL� OBJCJMUp� L� DL@� K?N?@LQLF� @GCm� N?BLEJD\� omR\O?CGS'� <BLT� NBJomQLf�|mCOL� S� OL|Gp�}?� @m|� HLEL@J� SKeEIWGBF?C?LB@mSMm'�:G�oeR?�}?�B?oJEJp�m�@J�DELCeRJ�omR\�OeRG@GELpO?Cm�B\KO?@�omR\�DE?K?RJ��RJ�?FGD'�dGBF?C?LB@mSMm�OJCeRJ�CLCLD�?O?@�m�NB?S�RJ�N?@J@?'�8|�\OJSDI�KFLKM\EJSp�TCm@LUWJT�NRGWGS�Be�CJMUp�OBJOCeF�N?jB?DmSDIOJg��0J�HE?�ELOJS��

`�DOLTLFp�}?�@J�NB?EJ�WGBF?C?LB@mSMmF�CG�F?Uf@?p�@J�*NB?EJ� O?RQ?DNmF� m� FJTJDOe� EBeK\}JH'� 0?Km� \OJSDI� DELB�JSFmO?@p�}?� S�?F� DRmK?@� TL� CJ@p� OBJOCeFg� �:G� WmNLSp� FmC�|GEGoG�CG�WmNLf��

0J@� WLD?@� N?FJRLTJRJ� HR?NMm� Tm� ToB?fUp� Q?E?F?U� K?DEBmRe'�dGBF?C?LB@mSMm�OBJOCeRJg��_?�N?oLWGCC\�p�*�S�FmKmjS�RJ'�8�oeR?��H�oRJTIO?���'

2mDR\�DCmKLCOe�CLKmS�RJ�N?R\OJ'�2?oLWJF�J�CLD�T�K?B?QJpTLR\QRJ� m� DELRJ� NJELEJp� HE?� @J� ELOm'�=J� oeRJ� T?K\QCGCm� F

qw.

WGBF?C?LB@mSDIOm� @eCKJBJp� L� O?EBJSDI� DEBmRGMI� OBJOCeF� N?jB?DmSDIOJg��8�E?om�\OG�KmR?���4GR\CJ�DOLTLRJp�}?�@J�O?TLOJ'2?RIDIOJS�FmKKmR�NGBGS�?F�N?@J@?�CLD�e�N?FC?@e�N?Q?EmF+��SeFmS�?F�e�RmD'

2GBGoeFLEJ�F�DGRm�KLRm�oeR?�m�CGoGTNGWC?p�m�CGN?EBmoC?�TeFLQJ� CL� DGR?'�=J� N?DmKRLRJ� O?CGS� S� N?�HLRJ� F� CLNB\@m� CLDGR?�6'�6?RJ�oeRJ�F|G�DGBGK�RLCmFp� T�RmDL�N?DJNLFD\�CL�CLDF?Q?CIp�LRG�FmC�CG�oeF��OmKRJFJS'�1H?B?CCJS�FmKKmR�Nm�?F�eRmD�Q?EeFLEJ�D?om�OBJ�FOep�L�\�N?WGBGT�6C\|JMIOJS�RmD�N?KLFD\K?�DGRL�7'�2GBGK�EJ@�TL�|K|LU�}G�K?�DGRL�6'�S�?DEGBmQLUp�}?@?|G�oeEJ�?oRLFL'�1BQLCmTLMmSCJS�?OBeQJ�N?NB?DJF�@GCG�CL?omKp�LRG�\�@eDmF�N?DNm�LEJ'�2?FmK?@R\U�}G�X?QKLCe�S�̀ B?DRLFep}?� oeRL��G~?@�5dA� F� BLS?Cmp� NB?� CGoGTNGOe� S� NB?N?CeUp}?o�F?CJ�NGBGCGDRJD\�OeKJmCKJ'�P�EJ@�DL@J@��Ke�K?�DGRL�6'pKG�TLRJ�LU�O?C\�CL�RmOeFLCC\p�m�DL@��Ke�K?�DGRL�7'

0L@�F�?KCmS�HLEm�oeRL�N?FDELCDIOL�HLBWmFC\p�KG�CL�OFJEOJFJKLFLC?�HLBW'�0L@�\�TeDEBmF�CLKBLS?C?F?Q?�OGBmFCJOL�NmKNmRR\0LBLDL� T� KBe|JC?Ut� S?Q?� \� K?Dm� CG� TCLF'� _?�@GCG� NmKmS�RL4?~m\p�}?�E?�BLT?@�T�X?QKLC?U�FJB\EeFLRL�@GCG�T�CGoGTNGOJEL�FJRmOeFLRL�@?��BeOJ'�<?CL�TBLTe�TLMmOLFJRLD\�CG�ELO�@C?Up\O�@?�@J�BeOL@Jp�S�oeRL�TLK?F?RGCLp�}?�\�F|G�CLDEmRIOJ�CJ@JF?R?KmU'� 4?~m\� N?NB?DJRL� @GCG� }G� T� ?KCJ@� N?FDELCMG@NGBGFmBJEJ� KmFWLEp�}?�C?D\EI� ��EL~GEJ�'� <?CL� F|G� B?oJRL� TCJ@J�BmTCm�NB?oJp�FJDJRLRL��H�NmK�WLD�K?}e�S�oeBmp�F�NmTCU�CmWWGBGT� RmDJ� F� DeDmKCm� DGRLp� m� KG\Om�@GC��NBJKLECm� CG� NB?S�RJNB?oJ�TLK?FmRIC?'�=J�T��?O?@�*�ELO�CLTJFLFD\�MGS�@mDMGFJSN?FDELCGMI�*�NGBG?K\QCeRJD\�F�N?RIDIOm�@eCKJBJ�S�TLDmRJ�NBJDEG|Mmp� \O?U�@LRJ�SEJ� KmFWLEL'�2mDR\� KG\O?Q?� WLDe� CLKmS�RJKFmg�?KCL�@LRGCIOL��mDECLKM\EJRmEC\p�L�KBeQL�FJD?OLp�W?BC\FLpO?R?�KFLKM\EJ�B?OmF'�6BJWJ@?�N?jN?RIDIOJg��7eOJ�FQ?Be���*�Som|J@?� K?� CJH'�=LRGCIOLp�}?�S�RL� NGB�Lp� N?WJCLf�}?DJRJFEmOLEJp�S�oLWep�\O�QBJTG�TLNJDOe�EL�O?FELf���'�_BeQL�DE?�EIp�@?FeO?NLCLp�TLNJDOep�\Oe�FDEJQRL�FJE\QEJp�EBJ@Lf�F�BeOLH�mp�O?RJ�\K?�CG��N?omQp�EBJ@LRL�KLRm'��?O�N?omQ�R?FJEJ�NGB�ep�L�\�FmKoJBLUTLNJDOe�FmK�Mmf��FJD?O?��S�N?WJCLU�B?oJEJ��K?NJE�'

<?CL�DNGB�e�CG�H?EmRL�CmW?Q?�DOLTLEJp�m�L|�\O�\�NBJORLF�S�K?�W?RL�NmDE?RI�m�TLQB?TJFp�}?�TLBLT�TLDEBGRUp�DOLTLRLp�}?TLNJDOe�?EBJ@LRL�FmK�4?~m�p�L�KLRm�N?KLRL�NDGFKL�FDmH�N?FDELCMmFp}?�NGBGoeFLRJ�E?Km�F�DGRm'�<BG�Em�NmK�N?QB?TL@J�N?Q?KJRLD\

qw�

}?WGEFGBQL�NBJH?KJEJ�CL�FOLTLCG�@mDMG�S�TLRJ�LEJ�EL@�TLNJDOeT�mC~?B@LMm\@J�NB?�N?FDELCMmF'

PLEG�KBeQL�KmFWJCLp�\Oe��?O?Fm�EJ@�WLD?@�FKLR?D\�TR?FJEJpK?� CmW?Q?� CG� NBJTCLRLD\p� CLFmEI� E?Kmp� O?RJ� \� �S� DJNLF� eDm@JNDGFKL@Jp�}?� �H�@GCm� �TBLKJRL�� ��� E?FLBJ�OLp� Cm� CLFmEI� E?KmpO?RJ�\��S�NBJORLKLF�K?�Q?R?FJ�NmDE?R\'

<JDRmK�NB?oJ�oeF�\DCJSp�m�NB?�CI?Q?�@J�N?FmK?@JRJ�4?~mUp}?�T� E?Q?�WLDe� Emf�� DELB�?�� KmFWJCJ�K?�|?KCJH�CGoGTNGWCJHB?omE�CG�F|JFLRL'�2B?�MU�KmFWJCe�}Gp�T?OBG@Lp�N?QLC?�DFmKWJR?EGp� }?� F?CLp� ?N?FmKLUWJ� NB?� FJNLK?Op� K?� DF?f�� FJCJ� CGNBJTCLRLD\p� EmRIOJ� ?N?FmRL� ELOp� \O� \� ��� �CLFWJF�p�*� OLTLRLpoeMm@E?�N?R\OL@�T�BeO�FEGORL'

:GKLRGO?�@?f��OFLBEJBJ�TLHF?BmRL�CL�EJ~�FK?FL�T�KF?@L@LRJ@J�KmEI@J'�<?CJ�RG|LRJ�F�CGE?NRGCmS�HLEm�F�QLB\WMmp�L�TmDEBLHe�NGBGK�TLBLT?U�CJ@J�CG�NmOReFLFD\�CmHE?'�=J�T��?O?@N?DELBLRJ� KR\� CJH� HLBWmp� N?DEmRIp� KB?FL� EL� T?o?F+\TLRJ� ?KCeQ?DN?KJCUp�}?o�F?CL� �H� K?QR\KLRL'� P�2GBG@J�R\� KmDELRJ�@JeO?RJp�S�DLCmELB�TLSC\FD\�HF?BJ@J'�P�@L�LTJCmF�@J�FT\RJ�BGWmpNBJKLECm�KmE\@p� m�?oKLBeFLRJ� �H'��\�DNBLFL�FJORJOLRL�oeRL�FKGO?Q?�TLDEGBG|GCC\p�@?FR\Fp�@LSC?@�EBGoL�o�oeR?�B?TN?B\jK|LEJD\�?BQLCmTLMmSC?U�K?B?Q?U'�8RG�\�TCLFp�}?�O?RJ�DNBLFeN?RLQ?K|eFLEJ� N?WGBGT� BLS?C?F?Q?p� L� MGS� TFGBCGEID\� K?�Q?DN?KLBCJOL�p�L��Q?DN?KLBCJO��K?�Oe}?F?Q?p�m�O?|GC�TjN?@m|CJH�DELCG�?o@mBO?FeFLEJ�DNBLFep�E?�K?N?@?QL�@?QRL�o�NBJSEJCLKE?� NmTC?'� 5� FD\O?@e� BLTmp� CL�G� NmOReFLCC\� CLK� N?EBGoejUWJ@J�FJORJOLR?�DGBGK�CLDGRGCC\�FK\WCmDEI�m�K?oBG�FBL|GCC\'

:GTLoLB?@� N?Em@� K?FGR?D\� @GCm� DN?FCJEJ� Ke|G� NBJOBGTLFKLCC\'� 1KC?Q?� KC\� CL� DGR?� `'� CLDO?WJRJ� o?RI�GFJOJpDNmS@LRJ� DEBmRIM\� T� @mDMGF?Q?� �Oe}L�p� S� FmC� FJKLF� FGRJOJS@L�LTJC�T�RmOL@Jp�L�F�K?KLEOe�*�FDm�B?KJCJp�}?��H�DJCJ�oeRJ�FNmKNmRRm'� <� CLQ?B?Ke� S� KR\� TL?H?EJ� mC�J@� G@�GomDEJ� S?Q?TFmRICJRJ'�6?RJ�MG�FJ\FJR?D\p�S?Q?�TLDeK|GC?�CL�OLBe�D@GBEJpL� CL� @GCG� CLORLKGC?� ?o?F+\T?O� FJQ?R?DJEJ� B?T+\DCUFLRICeNB?@?Fe�K?�CLDGRGCC\�NGBGK�NeoRmWCJ@�FJO?CLCC\@�NBJDeKe'

5�NBJDeEC?DEm�2?ELNL�FmK�NmKNmRIC?��@GBG|m�\�TLoBLF�DR?F?K?�TmoBLC?��QB?@LKJ�eDI?Q?�CLDGRGCC\�DGRL�`'�m�NBGKDELFCJOmFK?FO?RJ�CmH�DmR'�=?�@�TLFKLCC\@�oeR?�NBGKDELFJEJ�TBLKe�FNBLFKJF?@e�DFmERm'�PBLKL�*�MG�oeF�CL��CLSDEBL�Cm�JS�F?B?Qp?D?oRJF?�|� e�@LSoeECI?@ep� O?RJ� F?B?Q� OJCG�CL� CLD� FGRJOm

qwZ

DJRJ'�2?DELFL�DGRL�K?�TBLKCJOL�oeRL�?KC?Ke�C?�TLFT\ELp�EL�S@LS|G� FDmH� H?W� \O?DI� TLE?BOCeF� S?Q?� FWJC?O'� :LFmEI� S?Q?B?KJCL�TBGORLD\�S?Q?�S�CG�H?EmRL�N?H?B?CJEJ'�8RG�CLK�CL�J@NmKNmRR\@�TLFJD�QBmTCJS�TCLO'�<mKOBJR?D\�CL�G�DRLoG�@mDMGpCL� \OG� Q?Km� CLSEJ� eDNm�CJS� NB?EJTLDmo'� ^KJCGp� }?� @GCmFJKLR?D\� @?|RJFJ@� TKmSDCJEJp� MG� N?FCG� TLO?CDNmBeFLCC\RUKGSt� K?� E?Q?� EBGoL� oeR?� O?CWG� NGBG@mDEJEJ� RUKGSp�}?oFmKmBFLEJ� �H� FmK� TCLS?@?Q?� EGBGCe'� �G� \� S� TLNB?N?CeFLFTFGBHCJOL@p� H?W� TKLFLF� D?om� DNBLFep� }?� ELOG� TLQLRICGNGBGDeFLCC\�RUKGS�CG�RGQOG'

<JO?CLF�J� MG� NBJOBG� TLFKLCC\� F� DGRm� `'p� TL�|K|LU� K?DGRL�/'�0eE�DEBmWLU�Oe}?F?Q?�B?TFmKCJOL�ABe}L'�<mC�NB?DJEI@GCG�N?�HLEJ�T�CJ@�K?�NBJDmROL�0'�*�6BJF?Q?'

0J@�WLD?@�DGR\CJp�N?oLWJF�J�@GCGp�TmoBLRJD\�omR\��O?RJpO?|GC� Tm� DF?fU� DNBLF?Up� m� NB?D\EIp�}?o� \� TLS�?F� EeKJ� ELN?RLQ?KJF��HCm�OR?N?EJ'�0BLOEeUEI�@GCG�@?F�DF?Q?�FmSEL'�0?|N?RLQ?K|eU�Mm�OR?N?EJg�NGBG?BLCL�@G|Lp�oLoDIOm�NRmEOJp�CGK?oBmNmK?TBmCC\'� _?oB?DeDmKDIOG� DNmF|JEE\� \O?DI� CLRLKCefEID\'XmRI�JH� DN?BmFp� DGBS?TCm�?Q?� N?Be�GCC\� N?B\KOe�*� N?TLCLNLKL@J�TLS�RJH�QBLom|CJMIOJH�WGBF?CJH�o?�F?O�*�TFJWLSC?CG�oeR?'

0LOm�C?F?WLDCm��NLEBJ@?Cm\RICm��DeKJ�K?F?KJR?D\�@GCm�*L� CLNGFC?� S� CG� ?KC?@e� T� NB?FmKCJH� RUKGS� NmKNmRR\� *NGBGF?KJEJ� F� O?|C?@e�@mDMm� N?DE?Up� ?D?oRJF?� EL@p� KG� KLCLRUKJCL� oeRL� omRI�G� TCLCL'�=GCG� ?D?oJDE?� TCLRJ� DGR\CJpN?WLF�J� FmK� <?R?K|m� m� b?ReWO?FL� CL� TLH?Kmp� K?� <mRI�LCJpb?B?H?FJMm� S� `OD@LCJW� CL� DH?Kmp� FmK� >DOLCm� CL� NmFC?Wm� N?�BO?Fe�m�/m}JCe�CL�NmFKCm'

<� DGRm� /'� X?QKLCLp� }?� FDG� DEG|JRL� TL� DELC?@� @?�HNGBGDEBmRGCJH�BeOp�N?KLBeFLRL�@GCm��LoRUOe�S�EGNRe�BeOLFJMU'/mFL�BeOLp�OLTLRL�F?CLp�F|G�CG�N?EBGoef�?OBG@?Q?�NmOReFLCC\'PLEG�NBLFe�BeOe�T?o?F+\TLRL�@GCG�FNBLFR\EJ��LoRGU'

*�:G�NJELSEGp�*�Q?F?BJRLp�*�}?�oeKG�o?RmEJp�}?�FL|O?FL@� FEBJ@LEJ��LoRU� F� BeMm'� :G� N?@mEJEGp� \O� oeKGEG� F|G� mNBLF?U�BeO?U�FmRIC?�F?R?KmEJ'

4ReHLU���p�o?�MG�@mS�K?oB?KmSp�m�CLKmFLU�BeOLFJMU'�<?CLD\QLf� FJ}G� RmOE\'� 0GNRLp� m� \� BLKmU� T� MI?Q?p� o?� C?WL@J� BeOLo?RJEI'

dGBGT�CmW�NGBG�|K|LU�K?�DGRL�/'�0eE�K?FmKeUD\p�}?�D?EC\

qw[

WGBF?CJH�N?RIDIOJH�o?�FOLBmF�CLNLRL�CL�DGR?�=LR\Fe'�=?|CLoeR?�TK?QLKeFLEJD\p�}?�M\�oLCKL�NmKG�QBLoeFLEJ�_?oB\COe'�XGBeFmKKmR�1DEB?FGBHLp� KFm� W?EJ�46<p� K?ReWefEID\�}G�2LDEGBCLOj4ELBJSp�m�TLR\QLf@?�CL�N?R\H�NGBGK�DGR?@�_?oB\CO?U'�0L�F?B?QCLD� mT�=LR\FJ� N?@mEJF'� <mKOBJFLf� CG�OmKRJFJS� F?Q?CI'�=JWGOLf@?'�8RG�N?R\OJ�CL��_?oB\COe�CG�Nm�RJ'

<FGW?Bm� T� ?H?B?CCJ@� FmKKmR?@� \� Nm�?F� NGBGFmBJEJ� DELCDNBLF�e�=LR\Fm'�=LR\FL�EBJ@LRLD\�NmK�WLD�Cm@GMIO?��?OeNLMm�Ke|G� K?oBG'� 0eE� NGBGoeFLF� ?H?B?CCJS� FmKKmR�4JWL'� 8RG� NmKeKLBL@J�F?B?QL�DGR?�DO?B?�TLRL@LR?D\'�6BL}JS�GRG@GCE�Nm�?Fe� NmKNmRR\p� N?\FJRJD\� DGOD?EJp� KG\Om� HR?NMm� S� KmFWLEL� DELRJH?KJEJ� CL� N?RIDIOm� TLoLFJ� K?� XmBWm'� 6?RJDI� TBLTO?FG� DGR?XmBWLC}JCJ� EGNGB� DELR?� K|GBGR?@� KG@?BLRmTLMm�'� :L�GOGBmFCJMEF?� BLS?Ce� TB?oJR?� N?@JROeg� TL@mDEI� FNRJCeEJ� CLCLDEBmS� @?R?Kmp�*� L� E?p� \O� EBGoLp� N?OLBLEJ� O?Q?� DRmKp�*� eBLS?C?F?@e�NB?F?Km�Bm�JRJ�T�=LR\F?U�N?BFLEJ�FD\Om�TF+\TOJS�o?SO?EeFLEJ���'�8|�TL�N?BLK?U�Oe}?F?Q?�aBL@L�MGS�o?SO?EFmKORJOLC?p�LRG�oeR?�TLNmTC?'�=?R?KI�F|G�oeRL�TKG@?BLRmT?FLCL'

U ��%YVLLL

2B?E\Q?@�?KC?Q?�@mD\M\�@GCm�CL�NGBG@mCe��K?FGR?D\�TLTCLEJDeNGBGW?Op�K?C?DmFp�NBJTCLCIp�N?HFLRp�NmKFJ}GCC\p�L�FBG�Em�SDeKe'�2B?�MG�?N?Fm@�K?ORLKCm�G'��G�FDG�*�@LRGCIOm�KBmoCJMmp}?�EBLNR\UEID\�TLF|KJ�m�DOBmTI'�PQLKeU��H�EeE�KR\�E?Q?p�}?oNB?mRUDEBeFLEJ�KG\Om�?D?oRJF?DEm�E?Km�CmH�FmKC?DJC'

1KC?Q?�KC\�OFLBEJBeU�T�FmKKmR?@�e�DGRm�/'�=mS�FmKKmR�CLRmWef.q�W?R?FmOL'�<mKmS�?F�0?N?R\p�2JBmQp�N?@GB�XJDEBJS����m�}G�?KJCT�=LR\FJp� FmKmS�?F�6LB@GRUOp� TLQJCeF�B?S'�de@LO'�<� DeDmKCmHHLELH� OFLBEJBeFLF� T� W?E?U� 46<� DELB�JS� oeRLFCJS� PBeo':GDN?KmFLC?�F�RmDmp�CGKLRGO?�FmK�CLD�TC\RLDI�DEBmR\CJCL'�4GR\CJom|LEI�T�FmDEOL@Jp�}?�CL�DGR?�CLDEeNLf�FGRJOJS�FmKKmR�N?RIDIO?Q?FmSDIOL'�PBeo�oeF�K?oBJS�F?\Op�LRG�}?�T�CJ@�E?Q?�KC\�DELR?D\p�E?S�DL@�CG�TCLUg�FmC�DH?NJF�ToB?U�m�DELF�eEmOLEJ�CLF@LCC\p�L�TLCJ@�e�oGTRLKm�*�S?Q?�46<'�2?R\OJ�F|G�oRJTIO?�CLD'�=mS�FmKKmRTLSC\F�DELC?FJ}L�F�B?FLHp�L�46<��BFG��}?DJRJ�CL�WJDEG�N?RG'

`O}?�o�N?R\OJ�MG�TLNBJ@mEJRJp�oeRJ�o�FJDEBmR\RJ��H�eDmHp�\OOeBGS'�6BJWe�K?�PBeoLp�}?o�DNJCJF�DF?�H�RUKGS�m�TLSC\F�DELC?FJ}G'8�FmC�@GCm�e�FmKN?FmKIg��<L@�TLDI�K?�46<p�NJRICeSEG�DF?�H��

qwY

�?o� CG� K?NeDEJEJ� K?� OLELDEB?~Jp� OBJWe� K?� CI?Q?� ELOJTLBLT�DNJCJEJD\p�e|JFLUWJ�NBJ�E?@e��OBmNOJH�DR?FGW?O�p�}?�H� TFJWLSC?� F� ELOJH� FJNLKOLH� e|JFLUEI� e� O?|CmS� LB@m�'PLQB?|eU� S?@ep�}?� DEBmR\EJ@ep� \O}?� FmC� CG� TLEBJ@LfEID\'1DELE?WC?� EmRIOJ� WLDEJCL�46<� TLSC\RL� DELC?FJ}G� omR\� CLDtPBeo�mT�KBeQ?U�WLDEJC?U�FEmO�e�N?RG'�=J�FmKDEeNJRJ�F�N?FC?@eN?B\KOe�B?FL@Jp�}?o�CG�CLBLTJEJ�DGRL�CL�DNLRGCC\'

0LO� FJQR\KLR?� ?KCG� CGN?B?Te@mCC\p� CL� @?U� Ke@OepKBmoCGp�o?�@J�?NmDR\�mT�PBeo?@�DEBmWLRJD\�S�|JRJ�e�K?oBmSTRLQ?Kmp� LRGp� \O�NmTCm�G� FJ\FJR?D\p� FmC� FDG� ELOJ�N?KLF�MGSFJNLK?O�e�DF?f@e�TFmEm��K?Q?BJ�p�CLDFmERUUWJ�S?Q?p�?WGFJKC?pN?jDF?f@e'

_BeQG�CGN?B?Te@mCC\�NBJEBLNJR?D\�@GCm�T�Q?DN?KLBDIOJ@BG~GBGCE?@� �LTK?U'� <� EBJF?|Cm� KCm� NBJ� @?f@e� FmKKmRmNGBGoeFLRJ�BLCGCmp�L�E?@ep�}?�\�CG�F?R?KmF�m}G�\O�DRmK�BeOL@JpomR\�CLD�NGBGoeFLRJ�DLCmELBOJ�5R\CL�S�X?QKLCL'�=m|�CJ@Jp�\ONBGKDELFCJM\@J� 5dAp� EL� �LTK?U� N?DELRL� DeNGBGWOL�}?K?N?R?ECLp�FLEJp�RmOmFp�}?��H�CL��FmKKmR�TLQ?E?FJF�m�NGBGKLF�KR\F|JEOe� �CL�J@�� DLCmELBOL@'�2mK� WLD� ELO?�� ?KCmf�� DeNGBGWOJ�LTKL�NmKC\F�e�@?�S�NBJDeEC?DEm�BeOe�CL�?KCe�TjN?@m|�KmFWLE'`�DO?WJF�K?�CI?Q?�S�N?QB?TJF�S?@ep�}?�TLDEBGRUp�O?RJ�oeKGFGDEJ�DGoG�ELO�QBeo?'�PL�EG��LTKL�N?|LRmFD\�2LDEGBCLO?Fmp�\OJSDN?FC\F�B?RU�N?RmEJWC?Q?�OGBmFCJOL�BLS?Cet�?NmDR\�|�M\�DOLBQL?NJCJRLD\�F�OGBmFCJMEFm�?OBeQJ'

=?��FTLf@JCJ�mT��LTK?U�TLQ?DEBJRJD\p�O?RJ�FmC�CGDN?KmFLC?DELF� @?�@� oGTN?DGBGKCm@� TFGBHCJO?@p� \O� BG~GBGCE� oGTNGOJp\O?@e�\�mT�DF?�@�?H?B?CCJ@�FmKKmR?@�NmKR\QLF'�_?�TeKLBe�N?@m|CL@J�@eDmR?�NBJSEJ�BLCm�G�WJ�NmTCm�G'�`O?DI�@J�TLOFLBEJBejFLRJ� F� RmDm� @m|� DGRL@J�6'� S�/'�4EBmRIMm� NBJEBJ@LRJ� \O?Q?DIeWJEGR\jeOBL�CM\p� \OJS� ?N?FmKLFp�}?� FGBELfEID\� T� Cm@GMIO?Q?FmSDIOL�S�H?WG�FDEeNJEJ�K?�528'��LTKL�N?EBLOEeFLF�E?Q?�FWJEGR\\O� F?B?|?Q?� B?TFmKCJOL� m� ToJBLFD\� NmK� EJ@� OeE?@� S?Q?� SNGBGDReHeFLEJp�LRG�XLSBLO�*�NmTCm�G�W?E?FJS�528�F�D?ECm�OjBL4ELHLp� FmKTCLWJFD\� F� oLQLEI?H� o?\H� m� TLQJCeF� e� o?U� To?RI�GFJOL@J�F�RUE?@e�qkZw�B?Oe�F�_B?Q?oJWWJCm�*�TLDEeNJFD\TL� CI?Q?'� 5� DNBLFe� FEBeEJFD\� m� \p� L� T� B?T@?FJ� T� eWJEGRG@NGBGO?CLFD\p�}?� FmC� Q?F?BJEI� NBLFKep� o?p� FJ\FJR?D\p� \� TCLFS?Q?�oLEIOL�S�e@?FJ�S?Q?�|JEE\p�}?��H�FmC�FmBC?�@GCm�?NJDeFLF'0J@�WLD?@��LTKL�H?EmF�N?OLBLEJ�XLSBLOL�TL�S?Q?�FDEB\FLCC\�e

qwn

NGBGDReHLCC\t�MG��LTKL�eFL|LF�N?Be�GCC\@�Deo?BKJCLMm�'�0eEe|G�\�CG�K?NeDEJFp�}?o�XLSBLO?Fm�DELRLD\�OBJFKL'

�Gp�@LoeEIp�?DELE?WC?�DN?CeOLR?��LTKe�ToJBLEJ�@LEGBm\RJp}?o�FmKKLEJ�@GCG�NmK�DeK'

:GN?B?Te@mCC\�T��LTK?U�EL�@?f�oL|LCC\�N?FGBCeEJD\�K?FmKKmRe�528�DN?CeOLRJ�@GCG�N?KLEJ�F�BLS?C�NB?HLCC\�TFmRICJEJ@GCG�FmK�EGNGBm�CmH�?o?F+\TOmFp�o?�H?We�NGBGSEJ�K?�528p�H?WLo�\O�B\K?FJS�DEBmRGMI'

0L�N?OJ�M\� DNBLFL� FJBm�JRLD\p� NBJS�?F�CLOLTp�}?o�eDmBG~GBGCEJ�oGTNGOJ�CLKBLS?Cep�BLS?CmFp�O?@LCKJBJ�?H?B?CCJHFmKKmRmF�EL��HCm�TLDEeNCJOJ�\FJRJD\�CL�FJ�OmR�K?�DGRL�̀ '�<J�OmR@LF�NB?F?KJEJ�?OBe|CJS�BG~GBGCE�oGTNGOJ�/GEeC'

<J�OmR� FmKoeFLFD\� q�jq.� EBLFC\� F��O?Rm'� XeRJ� NBJDeECmCLKBLS?C?FJS�BG~GBGCE�oGTNGOJ�2?ELNp�S?Q?�TLDEeNCJO�2eQLWpDGOBGELB�<?B?oGMIp�BG~GBGCE�oGTNGOJ�qjQ?�BLS?Ce�7eKJSp�S?Q?TLDEeNCJO��?OjXeSEeBp� O?@LCKJB� ?H?B?CC?Q?� FmKKmRe�4?OmRpBG~GBGCE�oGTNGOJ�.jQ?�BLS?Ce��S?Q?�NDGFKL�F|G�CG�NL@+\ELU�pO?@LCKJB�?H?B?CC?Q?�FmKKmRe�1BGR��NmTCm�G�DELF�NB?F?OLE?B?@�pBG~GBGCE�oGTNGOJ��jQ?�BLS?Ce�1BLWp�@mS�TLDEeNCJO�1DEB?FGBHpBG~GBGCE� oGTNGOJ� ZjQ?� BLS?Ce�6LBR?p� O?@LCKJB� ?H?B?CC?Q?FmKKmRe�XmD�EL�CJTOL�mC�JH�~eCOMmSCJH'�0BGEI?Q?�KC\�NBJS�RJEG|�m�Oe}?Fm�B?TFmKCJOJ'�2BJ\FCJS�oeF�EG|�BG~GBGCE�beMeR'

<|G� CL� N?WLEOe� @GCG� TeDEBmRL� NBJf@CL� CGDN?KmFLCOLg� eFDEeNC?@e� DR?Fmp� }?� S?Q?� FJQ?R?DJF� FmK� m@GCJ� ?OBe|C?Q?N?RmEJWC?Q?�OGBmFCJMEFL�/GEeCp�oeR?�FJDR?FRGC?�@GCm�NBJTCLCC\TL�@?U�B?o?Eep�E?@e�}?�DELC�oGTNGOJ�F�@?f@e�EGBGCm�CLSOBL}JSm�@mS�FmKKmR�FmSDIO?F?�S�N?RmMmSC?�CLSOBL}G�FJ�O?RGCJSt�/GEeCCLTFLF�eDm�@?��o?�p�FmKWJELF�KG\Om�NB?E?O?RJ�\O�TBLTO?Fmp�DORLF@GCm� N?K\Oe� m� NBJTCLWJF� CLKBLS?C?FJ@� EBGEm@� BG~GBGCE?@oGTNGOJ�mT�TLFKLCC\@�FJ�O?RUFLEJ�FDm�N+\EI�?H?B?CCJH�FmKKmRmFCLKBLS?Ce'�<J�OmR�NB?S�?F�Ke|G�eDNm�C?'�:L@�N?OLTLRJ�oLQLE?MmOLFJH�@LEGBm\RmF�m�NB?LCLRmTeFLRJ�DJDEG@e�NBLMm�EL�N?oeK?Fe=<_�*�=�X'�:L� EBGEmS� KGCI� T� K?BeWGCC\�/GEeCL� � \�NGBGFmFFmSDIO?FJS�FJ�OmR�mT�B?TFmKCJOL@J'

<�DGRm�̀ '�\�FNGB�G�TeDEBmF�P?BJWLp�CLKBLS?C?F?Q?�OGBmFCJOL/G@OmF}JCJp�}?�NBJ�HLF�DUKJ�mT�TCLS?@?U�@GCm�ABJDEGU�CLFmKNBLFe'� <mC� CL@?FR\F� @GCG� NGBGSEJ� CL�/G@OmF}JCet� S?@eNB?�@GCGp�@LoeEIp�Q?F?BJRL�ABJDE\p�\OmS�\�?KC?Q?�BLTe�K?N?@mQe� DOBeECmS� HFJRJCm'� `O?DI� TJ@?U� e� FGRJOe� TL@GEmRIp� O?RJ

qww

K?FOBeQJ�QeR\RJ�o?RI�GFJOJ�S�WGBF?Cm�N?R\OJp�N?\FJRLD\�F?CLDL@L�F�DGRm�/'�XeRL�N?QLC?�?K\QCeEL�m�F�N?KGBEJH�W?o?E\H'�=J��� FoBLRJp� FTeRJp� L�O?RJ�F?CL�H?EmRL� DL@L�SEJ�Nm�OJ�K?� DGRL4G@e�?F?��CL�/G@OmF}JCmp� \�CLOLTLF� TLNB\QEJ�O?CGSp� m� EeKJFmKFGTRL����OeRG@GECL�RLCOL'

2mDR\� FJ�O?Re�FGBELUD\�K?� DGRL�/'p� KG�@GCG�F|G�WGOLRLN?R?FJCL�@?Q?�FmKKmRe'�VKeWJ�DGR?@p� TeDEBmWLf@?�X?QKLCep�}?CLD�NGBGDEGBmQLf�NGBGK�TLDmKO?U�WGBF?CJH�N?R\OmF�CLK�DGR?@�/'_'�_?�CLD�K?ReWefEID\�CLKBLS?C?FJS�?BQLCmTLMmSCJS�BG~GBGCE7?oGBEp� m�@J�FFGW?Bm�FJBe�JRJ�F�K?B?Qe'�P�CL@J�SKG�X?QKLCLp}?o�N?OLTLEJ�@mDMG�TLDmKOJ'�2GBGH?KJ@?�WGBGT�DNLRGCJS�NBJDmR?O7?oGBGMI�m�omR\�Q?Bm�CI?Q?�OmCM\�DGRL�FmKN?WJFLf@?'�`�T�KF?@LDEBmRIM\@J�SKe�NGBGFmBJEJ�@mDMGp�KG�@LRL�o�oeEJ�TLDmKOL'�deU*�NmK� NLRLEO?U� OL�R\CC\'� 2?R\OJ� TLSC\RJ� DELC?FJ}L� NmKCGFGRJWOJ@�Q?BoO?@p�CGKLRGO?�DEG|OJ'�<GBELf@?D\�K?�FmKKmRep?oH?KJ@?� TLDmKOep� L� \� T� OeRG@GEC?U� RLCO?U� NmKDeFLUD\� CLQ?Bo?O� EL� OBG�e� F?QCG@� N?� N?R\OLH'� <?CJ� NLCmWC?� FEGORJpTLRJ�JF�J� KGOmRIOL� DOBJCI?O� mT� L@eCmMmfU'� 4EBmR\CJCLTLLR\B@eFLRL�o?�FOLBmF�e�DGRm�/'�_'p�}?�S�N?WLRJ�CL?DRmN�DEBmR\EJpCG�CLC?D\WJ�CL@p�?KCLOp�|?KCJH�FEBLE'

<� DGRm� /'� NGBGKLU� O?@LCKeFLCC\� CLK� @?�@� ?H?B?CCJ@FmKKmR?@�1DEB?FGBH?Fmp�}?�N?�@GCm�NGBGoJBLfp�TQmKC?�T�CLOLT?@pO?@LCKeFLCC\� FmKKmR?@'� 2B?}LUD\� Tm� DF?�@J� HR?NM\@Jp?omM\UWJ��H�WLD?@�FmKFmKeFLEJ'

:GTLoLB?@� TLOmCWJRJD\� D@eQJ� O?CEBLDEmFp� }?� oGTNGjBGBFCJ@� RLCMUQ?@� @mC\RJD\� NB?E\Q?@� MI?Q?� @mD\M\� @?Q?|JEE\'�1EBJ@eU�N?ORJOLCC\�\FJEJD\�CL�DeK�K?�DGRL�0'

<� DGRm� 0'� TmoBLFD\� eFGDI� NB?FmK� ?OBeQJ� mT� bBJQ?B?@p� L� TCJ@�*�1BRLC'�:LD�?oFJCeFLWeFLCJH�*�oLQLE?'�4L@L� �DF?\�oBLEm\'�<�?KCmS�HLEmp�TFmKOJ�FJORJOLRJ�CLD�N??KJCMmp�?NJCJRJD\pOBm@�@GCGp� OjB�XeBRLOLp� OjB�6GBj1BDIOJSp�OLNGR\C�?'6LKJR?p2LDEGBCLOj4ELBJSp�X?QKLCL�m�}G�KGOmRIOL�BLS?C?FJH�BG~GBGCEmF'_GHE?� NBJQC?oRGCJSp� TmKHLfp� LRG� XeBRLOLp�1BDIOJSp� \� EL�}GKGHE?� T� FmSDIO?F?�� oBLEm�� FGDI� WLD�|LBEef@?� DEJHLp�}?o� CGN?WeF�HE?DI�mT�DeKe'

1KJC�?KC?@e�NGBGN?FmKLf@?�D?omp�}?�O?@e�TLOJKLUEIp�\OJHDFmKOmF�HE?�@Lf�NB?EJ�DGoG�EL�}?�TL�EG�WGOLf�O?Q?'�6jB�XeBRLOLNB?N?Cef�NeDEJEJ�NR\�Oe�F�BeHp�}?o�oeEJ�FmKFL|Cm�J@�F�?oRJWWmDeKe'�1BDIOJS�FmKBLK|efp�o?�MG�@?|G�DNBLFe�EmRIOJ�N?QmB�JEJ'

qwk

1BDIOJS�?N?FmKLfp�}?p�@LoeEIp�K?FGKGEID\�FmKN?FmKLEJ�S?@eTL� EGp� }?� KLF� ?KCmS� |mCMm� EBJ� �NeRIOJ� CJE?O� m� WGBGT� EGBLS?C?FJS�TFJCeFLEJF�S?Q?�F��B?TEBLWeFLCCm�?BQLCmTLMmSC?Q?@LSCL�'�XeBRLOL�NBJTCLFD\p�}?�F�7?O�JM\Hp�FJNJF�Jp�Nm�?FmT� KmFWJC?U� CL� NB?HmK'� 0GNGB� S?@e� TLOJKeUEI� �CG@?BLRICeN?FGKmCOe�'�`OJSDI�BG~GBGCE�EFGBKJEIp�}?�S?Q?�N?ORJOLRJ�CLEGp� }?o� eDeCeEJ� T� BG~GBGCEeBJp� CL� \Oe� @Lf� NBJSEJ� HE?DINB?EG�?FLCJS'� _GHE?� T� N?ORJOLCJH� CL� DeK� DJKJEIp� DNGB�JQ?R?Fe�CL�BeOLHp�WeHLf�N?EJRJMU�Lo?�TCGBF?FLCJS�H?KJEI�N?Om@CLEmp�N?FE?BUUWJ�WLD�K?�WLDeg��:ep�m�}?�T�E?Q?�oeKG��

1'� 6LKJR?� TQLKLFp� }?� @Lf� FJNBLFKLEJD\� FmK� TLOJKepTB?oRGC?Q?�S?@e�BLS?C?FJ@�X?BJD?@p�@?FR\Fp�FmC�CGTLBLKCJSQ?DN?KLBDIOJS�BG~GBGCE'

<mKWJCJRJDI� KFGBmp� eFmS�?F� DEmSO?FJS� m� N?ORJOLFOjBL�1BDIO?Q?p�E?Km�K?OJCeFg

*�0GNGB�oeKG�WGBQL�CL�<LDp�?EWG'�4N?FmKLRJ�K?EGNGB�<Jp�LEGNGB�<LD�DN?FmKLEJ@eEI'�6L|eEIp�}?�<J�NmK�WLD�X?Q?DRe|mCC\�EL~GEJ� WJELfEG'

*�6?RJ�ELOp�E?�\�N?FJCGC�HmoL�N?HFLRe�KmDELEJp�L�CG�NGBGKDeK?@� FJNBLFKeFLEJD\'''

4GBGK�ELOJH�|LBEmF�K?WGOLFD\�DF?f��WGBQJ�S�\'�2?ORJOLCJSpFmKWJC\U� KFGBm� S� oLWe� W?EJBJ� DE?RJ� eDELFRGCm� OeE?@p� L� TLCJ@J�\OJH�N+\ECLKM\EI�?Dmo'�1oRJWW\�TCLS?@m�S�CGTCLS?@m'

*�0?�<J�W?E?FJS�ABmC��*�NJELf�\OJSDI�EG@CJS�BeD\FGMIDGBGKCI?Q?� TB?DEep�}?� DJKJEI� N?DGBGKJCm� TL� DE?R?@'� AE?DImTTLKe��E?FHCeF�@GCG�TQ?R?DJEJD\p�OL|eWJp�}?�MG�*�1BRLC'0?|� TQ?R?�eUD\'

<J\FR\fEID\p�1BRLC�TCLf�K?F?Rm�oLQLE?�NB?�@?U�Km\RICmDEIpTQLKef� NB?� eWLDEI� e� o?U� F� /m}LFm� b?Bm�CmS'� �G� @GCGNmKoLKI?BJR?p�CL�DGBMm�DELR?�RGQ�Gp�NGBGDEeNLU�T�C?QJ�CL�C?Qe'

*�:ep�KBe|G�ABmCp�DOL|mEI�CL@�DF?��QBmHJp�*�OL|G�1BRLCp*�CL�<LD�EeE�f�DOLBQJ'

`�NB?�ep�}?o�@GCm�NGBGWJELRJ�DOLBQe'�AE?DI�FQ?R?D�WJELf'_G}?�F�E?@e�NBLFKJp�L�KG}?�*�oBGHC\'��G�@GCG�DGBKJEIp�m�\TBLTe�NGBGoJFLUp�OL|eWJg��XBGHC\��

2BJDeECm� TL� DE?RL@Jp� DReHLUWJ� TLOJKmFp� �Q@OLUEI�p� m� MG}G�omRI�G�@GCG�KBLEef'

6?RJ�DOmCWJRJ�WJELEJp�KLRJ�DR?F?�@GCmp�m�\�TL\FJFp�}?�F�EJHE?�S�EJH�NeCOELH�*�m�CLTJFLU�*�FmK@?FR\UD\�FmK�FJ\DCGCIp�o?

qk�

FDGp�}?� EL@�DOLTLC?p�*�CGNBLFKL'�<J\DCUU�DNBLFe� T�1BLWG@pNBJQ?Ke�T�\OJ@�\�F|G�?NJDeFLF�oeFp�m�TL\FR\Up�}?�CG�@?|CL�@GCmB?oJEJ�TLOJKmF�T�NBJF?Ke�E?Q?p�}?�\�DELF�F�?o?B?Cm�KmFWJCJp�O?RJW?R?FmO�H?EmF�CL�CG��NmKCGDEJ�BeOe'�_LRm�T+\D?FeU�FJNLK?O�Tm�PBeo?@'6L|ep�}?�F�O?|C?@e�FJNLKOe�F|JFLEJ@e� �OBmNOJH�DRmF�p� O?RJHE?DI�FEmOLEJ@G�F�?oRJWWm�F?B?QL'�2B?FmKCJO�bBJQ?B�TFGBELf�@GCmeFLQep�}?�PBeo�*�DELB�JS�oeRLFCJS�528p� L� \�*�TFJWLSCJSDEBmRGMIp�W?E?FJS�*�EmRIOJ�N?�~eCOMm�'�`�N?ORJOeUD\�CL�EGp�}?�\W?E?FJS�528'�AE?DI�@GCG�NGBGoJFLfp�OL|eWJp�}?�\�W?E?FJ@�528oeFp�L�EGNGB�CJ@�CG�f�m�CG�@?|e�O?BJDEeFLEJD\�TFLCC\@�W?E?F?Q?'

�G�@GCG�o?R\WG�FBLTJR?'*�2B?oLWEGp�*� OL|ep� \O� EmRIOJ�@?|e� DN?OmSC?p�*�@mS

FmKKmR�DORLKLFD\�T�EBI?H�B?�Fp�TCLWJEI�*�DELC?FJF�W?Ee'�`�oeF���O?@LCKJB?@p�TCLWJEI�*�FJO?CeFLF�~eCOMmU�W?E?F?Q?'�2?jKBeQGp\�LCm�TKG@?omRmT?FLCJSp�LCm�TFmRICGCJS�T�528'�=GCG�TLoBLRJ�TN?R\�o?U�BLCGC?Q?�\O�W?E?F?Q?�528'� >�\�TLRJ�LUD\�W?E?FJ@ELO� K?FQ?p� K?OJ� FmK� DF?Q?� O?@LCKeFLCC\� CG� ?EBJ@LUN?FmK?@RGCC\p�}?�\�F|G�CG�W?E?FJS'�̀ p�}G�CGFJRmOeFLCJSp�Nm�?FK?oB?FmRIC?�N?FCJEJ�~eCOMmU�O?@LCKLCEL�?H?B?CC?Q?�FmKKmRepm�}G�K?�DI?Q?KCm�\�CG�TK?B?FJS'�̀ �S�K?Dm�CG�?o?F+\TLCJS�N?FCJEJpO?RJ�@?FL� NB?� MGp� LOEJFCe� o?S?Fe� DRe|oe'�2B?EG� \� FFL|LFDF?�@� ?o?F+\TO?@� FT\EJ� ToB?U� DF?�@J� NB?DEBmRGCJ@J�BeOL@J'6?RJ�\�oeF�N?BLCGCJS�e�~eCOMm��W?E?F?Q?p�E?�W?@e�EGNGBp�oeF�JmCFLRmK?@p�@LU�FFL|LEJ�DGoG�EmRIOJ�DEBmRIMG@�

1BRLC�FJBm�ef�MG�NJELCC\�CL�@?U�O?BJDEIp�TL\FR\UWJp�}?@mS�DELB�JCDIOJS�DEeNmCI�*�MG�DNBLFL�O?@LCKeFLCC\�528p�LRGDL@�KLF�@GCm�DLEJD~LOMmUp�T�NBJEJDO?@�CLTJFLUWJ�@GCG�W?E?FJ@'

2mDR\�@?�H�FJ\DCGCI�TLoBLF�DR?F?�1BRLCp�TLORJOLUWJ�@GCGK?�KLRI�?��NBLMm�m�KBe|oJ'�6?RJ�\�FmKH?KJF�T�Om@CLEJp�E?�oeFNGFCJSp�}?�FJNBLFKLF�DGoG�T�FL|RJFm�JH�TLOJKmFp�Q?R?FC?�|�mTTLOJKe�}?K?� N?Be�GCC\� Deo?BKJCLMm�p� EL�}?� TLQLR?@� DOLBQLCL�@GCG�NB?FLRJRLD\'

2mDR\� DeKe� OmRIO?H� CLD� FBLT� mT� W?E?FJ@�/GFO?@� mT� D?ECmOjBL�XeBRLOJ�mKG@?�K?�@mDMGF?���O?RJ�CL�@GK'

��c���" UUV�]�c�R�]V�Z Ub$UV

:GTLoLB?@�K?FGR?D\�@GCm�oeEJ�CL�FGDmRRm�4?O?RL�F�DGRm�̀ '�7'<mCWLCC\� FmKoeR?D\� Ke|G� N?jDF\EO?F?@et� KFLKM\EI� FGB�CJOmF

qkq

DeNB?F?K|eFLRJ�FGDmRICJS�N?HmKp�QBLRL�@eTJOL'�<mCWLF�FmSDIO?FJSOLNGR\C�?'�6LKJR?�}G�T�?KCJ@�DF\}GCJO?@'�:LDGRGCC\�TmS�R?D\oLQLE?p�o?�FGDmRR\�N?FDELCM\�B?oJR?�FBL|GCC\'

2mDR\� FGDmRR\� OjB� bB?@GCO?� F� RmDm� @m|� DGRL@J� `'� S��'NB?FmF� NBJD\Qe� D?ECm�46<'� XeR?� MG� ��� WGBFC\t� TmS�RJD\� FDmN?FDELCMm� MI?Q?� BLS?Ce'� 1'� 6LKJR?� FmKNBLFJF� TL� N?R\QRJHNLCLHJKep� L� NmDR\� CG�� D?EC\� DORLRL� NBJD\Qe'�2BJ� EmS� CLQ?KmFJQ?R?�GC?� OmRIOL� NB?@?Ft� E?Km� \� DOLTLF� KGOmRIOL� DRmF'6jB� bB?@GCO?� N?K\OeFLF� @GCm� TL� MU� NB?@?Fep� L� W?E'� dLSOLTLNB?DJF� K?� DF?f�� CLBGWGC?�� CL� FGWGBU'� XeR?� oLQLE?� KBeTmFpKmFWLEp�FGDGRm�NmDCmp�KBe|CmS�CLDEBmSp�m�CmHE?�CG�Ke@LF�NB?�EGp}?�NmDR\�OmRIO?H�@mD\MmF�CL�L��BGDNeoRmOL��NGBG|JFLEJ@G�FL|OmWLDJ�EL�NBJSKeEI�TLFT\Em�OBJFLFm�o?�'

PFmKDmR\�?KCL�QBeNL�N?FDELCMmF�NGBGH?KJEI�e�qjJS�BLS?C'dGBGT� DGR?� 2'� SKG@?� K?� DGRL� >'� A?We� FmKFmKLEJ� @mDMGFJHN?FDELCMmFp�L�?NmDR\�TLKe@eU�TLSEJ�K?�DGRL�X'�=J�TLC?WeFLRJF�OBLSCmS�HLEm�omR\�NmRIp�CL�DHmKCI?@e�OmCMm�DGRL'�:L�DFmELCOeCL� DGR?� CLDO?WJRJ� N?R\OJp� S� @J� NGBGDJKmRJ� �HCU� ?oRLFe� FQRJo?O?@e� \BOep� N?B?DR?@e� EGBC\@� m��JN�JC?U'�:LKFGWmBFJBe�Lf@?�N?NBJ�DGRL�6'�S�l'�K?�DGRL�6'�0eE�DN?OmSC?p�m�\�SKeNB?WJELEJ�QLTGEJ�EL�K?FmKLEJD\p�}?�C?F?Q?�F�DFmEm'

:LDEeNC?��C?Wm�TeDEBmWLUD\�F�DGRm�7'�mT�7eKJ@p�m�FmC�@GCGNB?DJEI�NmEJ�T�CJ@�N?RLQ?KJEJ�KG\Om�DRe|o?Fm�DNBLFJ�F�DGRm�<'�G�FGRJOGp�QB?@LKDIO?�Ke|G�LOEJFCG�DGR?p�LRG�NBJ�Q?R?FC?@e�R\He�2GBG@J�RI�*�XmBWL'�=LS|G�}?KC\��R\H?@�NGBG�TK\EIN?R\OJ�S�o?RI�GFJOJt�FKGCI�EeE�OFLBEJBeFLEJ�CGoGTNGWC?'

=J�CL�O?C\H'�PL�TKJ@?�F�?KJC�DLKp�K?�1Rm'�<�CG��FGRJOLNLDmOLp� HLEL� @eB?FLCLp� K?oBm� D?oLOJ� CL� NBJN?Cmp� F?CJ� CLDTLLR\B@eUEIp� \O}?� oeKG� CLoRJ|LEJD\� F?B?Q'� :L� FJNLK?OCGoGTNGOJ� @?|CL� T� Q?BJ}L� DO?WJEJ� F� Qe}LFJCe� F� DLKe'<J\FR\fEID\p� }?� F� NLDmMm� CG@L� O?@e� FJoBLEJ� @GKe'2GBG?K\QLUD\�F�MJFmRICJS�?K\Qp�oGBe�NmDE?RI�m��BLCLEJ�EL�FGDIKGCI�HLT\SCeU�omR\�NLDmOJ'�4GR?@�NGBG�|K|LUEI�N?R\OJp�LRGK?� HLE� CG� TLH?K\EI'�:LKFGWmB� @mDMGFL� Oe}?FL� NB?DJEI� @GCGTLSEJ�CL�DH?KJCJ�@?R?Km�EL�N?Q?F?BJEJ'�7eKJS�N?�HLF�K?�?KCmf�HLEJp�}?� oeRL� F� RmDm� @m|� DGRL@J�<'� S� 7't� DRmK?@� TL� CJ@�@LF�HLEJ�EeKJ�m�\'�0mRIOJ�\�FmKoeF�DH?KJCJ�m�TLS�?F�CL�FGWGBUp�\ON?WeRJD\�N?DEBmRJg�CL�DGR?�CLDO?WJRJ�N?R\OJ'�`�DmF�CL�O?C\�SN?�HLF�BeDR?@�BmWOJp�}?o�NB?BFLEJD\�CL�TLBmCOJ�DGRL�7'�<?B?Q

qk.

?DFmEJF�BmWOe�BLOGEL@Jp�m�@mS�O?TLMIOJS�OmCI�F�Ee�@JEI�NBJRmQ'0mRIOJ� TQLDRL� BLOGELp� OmCI� TmBFLFD\� S� @mRO?U� F?K?U� N?@WLFN?NmK�@mDE'

PLQLR?@�MGS�OmCI�oeF�TCL@GCJEJS'�`O�EmRIOJ�N?WeF�oeKIj}?�NmK?TBmRGp�NBJDELFLFp�DEBJQ�FeHL@J�S�oJDEB?�B?TQR\KLFD\'2?DEBmRmF� T?FDm@� CG� o?\FD\'� :L� DFJDE� NBJR\QLF� CL� TG@RUpN?NRGDOLCJS� N?��J�� FDELFLFp� L� O?RJ� \� OLTLF� S?@e� DE?\EJ� F?KC?@e�@mDMmp� E?� DN?OmSC?� WGOLFp� N?OJ� \� CG� N?FGBCeFD\'�:LTLORJO��4EmS���EBJ@LF�Q?R?Fe�BmFC?�ELOp�}?�@?|CL�oeR?�CL�CG�ORLDEJ� LFE?@LEL� S� DEBmR\EJ'� `O}?� KGOmRIOL� BLTmF� NB?S�?F\O?UDI�DEG|O?Up�E?�@?|CL�oeR?�DN?OmSC?�KBm@LEJ�*�FmC�CGToReKJF�CmO?RJ'

>�MJ@�BLT?@�@mS�B?Te@CJS�OmCI�FJCmD�@GCG�T�CGoGTNGOJ'PL�|K|LU�K?�@mDM\�N?DE?U�7eK?Q?�S�LR\B@eU�S?Q?'�0mRIOJ�@J?NJCJRJD\�CL�?o?R?CC\H�omR\�HLEJp�KG�C?WeFLF�7eKJSp�oRJDCeRLBLOGEL'

���

PL� N?BLK?U� X?QKLCJp� DOmRIOJ� @?|ep� FNBLFR\U��LoRGU'/mFL�BeOL�EBJ@Lf����F|G�K?F?Rm�DJRIC?p�NBLF?U�N?WJCLU�EG|N?EB?He�FNBLFR\EJ'�=mS�K?B?QJS�o?S?FJS�KBeQ�1DEB?FGBH�EG|H?WGp� oLWep� @LEJ� DF?U��LoRU'�2?DELC?FR\U� D?om� N?DELBLEJNBJ�CLQ?Km��LoRU�m�S?@e'

q[�RJNC\��Ke�FGBHJ�T��eB?@�mT�DGRL�F�ZjJS�BLS?Cp�K?�FmKKmReXmDL'� <� DGRm� X'� TeDEBmWLU� oLQLE?� N?FDELCMmF'� `OJS� KFLKM\E?OKmFWLE� NB?H?KJEI� DLCmELBCJS� FJ�OmR� NmK� NB?F?K?@�4OLRJ'� <MI?@e�DGRm�|JFG�OmRIOLCLKM\EI�B?KJC�oLNEJDEmFp�}?� �H� DJCJpTQmKC?� mT� DF?�@J� FmBeFLCC\@Jp� CG� oGBeEI� ToB?�� K?� BeO'� 8RGTBG�E?U�oLNEJDEJ�N?@LQLUEI�CL@�WJ@�@?|eEI'�=LS|G�F�O?|CmSHLEm�OFLBEJBef�HE?DI�mT�N?FDELCMmF'

<�DGRm�/'�K?FmKeUD\p�}?�?KJC�Q?DN?KLB�@Lf��LoRU'�PLH?K|eEeKJt� Q?DN?KLB� ?H?WG� @GCm� ��� FmKKLf'� XeKG� N?KLBeC?O� KR\1DEB?FGBHL'�:L� NBJDmROep�}?� CLRG|LF� K?� MI?Q?� DGRLp� N?@m|DGRL@J��'� S� 6'p� OFLBEJBef� 6LBR?� T� WLDEJC?U� ?H?B?CC?Q?FmKKmRe'�<mKFmKeU�m�S?Q?'

P� MmRJ@� ?H?B?CCJ@� FmKKmR?@� TF+\TeUDI� F� DGRm� `'� <J�OmRNB?F?K|e�CL�NBJDmROe�2LDmOJ�DGRL�5'�2BJDmR?O�MGS�CL�Q?Bmp�TQLBCJ@J�OBLfFJKL@J'�P�KF?H�o?OmF�S?Q?�?E?Wef�RmDp�L�T�EBGEI?Q?F�K?RJCm�FJKCmf�DGR?�5'�EL�DBmoCL�RGCEL�4\Ce'

qk�

���

2mDR\� FJ�O?Re� CL� NB?HLCC\��eBL� �KG@?� K?� DGRL� 5'PLC?W?Fef@?� F� \OmSDI� DE?K?Rm'� :L� DFmELCOe� B?ToeKJRJ� @GCGoRJTIOm�N?DEBmRJ'�:LKF?Bm�WeEJ�N?RIDIOe�@?Fe'�:G�@?|e�F�DmCmCLSEJ� DF?Q?�224'�_?oBGp�}?� CG@L� T� CL@J� O?CGS'�:GKLRGO?CLD� N?WLRLD\� NGBGDEBmROL'��G� FmKoJFLfEID\� N?FDELCGMI� >Q?B'2?R\OJp�}?�oeRJ�omR\�CL�?��DE?K?RJp�om|LEI�F�CLNB\@m�N?DEBmRmF'0?Km� @J� FJRLTJ@?� N?NmK� NmKFLRJCJp� NGBGN?FTLf@?� K?� B?FepTLR\QLf@?�N?�KF?H�o?OLH�K?B?QJ�S�FmKOBJFLf@?�F?Q?CI�F�DE?B?CeN?R\OmFp�}?o�FmKE\|JEJ�>Q?B\'

2?R\OJ�EG|�TLR\QRJ�F�B?FJp�@J�OBG�G@?�N?�CJH'�6?RJ�|mC�m� DELRJ� CLD� ?oH?KJEJ� N?TL� HLEJp� N?@LRe� FmKDEeNLf@?� ELOp}?�?KJC�TLS@Lf�CLK�B?F?@�C?FG�DELC?FJ}G�TL�@mDEO?@p�KBeQJS|G�TL�MGS�WLD�NBJOBJFLf�S?Q?�DF?�@�F?QCG@'�0LO�@J�NB?S�RJ\OJH�KGD\EI�@mDEOmFp�KmoBLRJD\�K?�Q?BoOLp�}?�omR\�MGBOFJp�m�NmKF?B?|J@�?oDEBmR?@�N?R\@J�N?KLRJD\�CL�2LDmOJ'�0eE�EBJF?QLgHR?NMm�|eBJRJD\p�}?�@J�F|G�NB?NLRJ'

VKG@?�CL�NBJDmR?O�TL�RmD?@�*�S?Q?�CLTFJ�F|G�CG�NBJQLKeUD?om�*� F� DE?B?Ce� DGRL� <'� 0eE� e|G� EG|� LR\B@'� dLDEJCJN?RIDIO?Q?�FmSDIOL�CLNLRJ�CL�DGR?�<?R?K|p�mC�m�Q?DN?KLB\EI�F`FmBCJOe'�:L�Q?BoOLH�?O?NefEID\�LBEJRGBm\p�CLB?K�T�HeK?o?UFEmOLf�F�RmDJp�LBEJRGBm\�o+f�N?�RmDm'

=mDMGFm�CL�m�DJRJ�CLBLH?FeUEI�@LS|G�.���W?R?FmO'�<?B?QH?WG�FJORJOLEJ�CLD�CL�omSp� LRG�CL@�T?FDm@�CG�K?MmRIC?�S?Q?NBJS@LEJ'� <FGW?Bm� �Ke� T� KGOmRIO?@L� FGB�CJOL@J� NGBGFmBJEJK?FO?RJ�Cm�NBJDmROJ'�<?B?QL�CG�oeR?'�PLEG�FBLCMm�FmC�N?WLF�CLCL�m�RmDJ�CLDEeN�T�EBI?H�DE?BmC'�PQmKC?�T�NR\C?@p�D?EC\�46<OjBL� bB?@GCOL� FmKDEeNJRL� F� RmD� omR\� bBe�mFOJp� L� ?H?B?CCJSFmKKmRp�K?�\O?Q?�NBJDELR?�KGOmRIOL�NmKNmRICJOmF�T��jQ?�BLS?Cep�\FGKe�N?CLK�X?BmFCJMU�F�/\HLFDIOm�RmDJ'

.Z�*�.Y�RJNC\�S�?NmDR\�}G�.k�S����RJNC\�NGBGF?K|e�FJ�OmRmT�KLFCm@�@?�@�FmKKmR?@�mT��jQ?�BLS?Ce'�:LOLTeU�HR?NM\@�EGNGBOFLBEJBeFLEJ�EmRIOJ�F�RmDLHp�L�CG�N?�DGRLHp�oeKeFLEJ�D?om�EL@TG@R\COJ�EL�@L�LTJCeFLEJ�HLBW?Fm�NBJNLDJ'

dLD� �HLEJ� e� [jJS� BLS?Cp� o?� ?H?B?CCJS� FmKKmR� N?EBGoefBG?BQLCmTLMm�p� K?N?FCGCC\� S� FJ�O?Re'� [� DGBNC\� \� F|G� F0B?DE\CMm'�PeDEBmWLU�KLFCmH�TCLS?@JH'�0eE�\�NmDR\�o?U�F�/m}LFmFNGB�G'� P� ?H?B?CCJ@� FmKKmR?@� TF+\TeUDI� e� DGRm� 4'� <J�OmR

qkZ

NGBGF?K|e�F�MI?@e�DGRm�EL�F�DGRm�b'p�WJ�E?�FmBCm��*�CL�N?R\H�mF�RmDLH'�AR?NMm�TLCGKoLCm'��?o��H�TL?H?EJEJp�DNmFLU�T�CJ@J�SeWe��H�N?FDELCDIOJH�NmDGCI'

0eE�DGRL�CG�T?BQLCmT?FLCm�ELO�K?oBGp�\O�e�XmBWLC}JCm�WJ2GBG@J}JCm'�0?@e�B?oRU�To?BJ�T�CLDGRGCC\@�F�DGRLH�b'�S�4'`O?DI�FFGW?Bm� DmKLf@?�CL�O?CGS� m� FDm��mDECLKM\EGB?� �KG@?� TmDNmF?@�K?� DGRL�<'�0eE� EG|�B?oRU�To?BJ� T�CLDGRGCC\@'�6?RJ@?��HR?NMm�F|G�H?W�KG}?�NBJoBLRJ�~?B@e�F?\OmFp��KG@?�F�DGR?�'p� }?o� EL@� N?DEBL�JEJ� @mDMGFJH� @mRmMm\CEmF'� 0L� F?CJN?H?FLRJD\�CL�TLRmTCJWCmS�DELCMm�'

:L� CLDGRGCC\� DGRL� �'� CL�L� N?\FL� TB?oJRL� FGRJOGFBL|GCC\'� =mDMGFm� KmFWLELp� DGBGK� \OJH� oeR?� KGOmRIOL� mTDGBGKCI?U�?DFmE?Up�TLNB?DJRJ�CLD�CL�q.�DGBNC\�CL�NBJDmR?ONmK�RmD?@p�CL�NBJSC\EE\'�<C?Wm�FJ�|K|Lf@?�T�DGRL�b'�OmCI@JpNGBGEJCLf@?� �R\H� 0JB\FL�*� PLRe|� m� =LCLDEJBGMIOJ@JRmDL@J�NmK+�|K|Lf@?�K?�NBJDmROL'�2GBGK�NBJDmRO?@�FJDJRLUDEG|m� CL� DELCMmUp� F� RmD� m� MmRG� N?ReKCG� T?BJ@?� DGR?'<NGFCJF�JDIp�}?�FDUKJ�oGTNGWC?p�OL|e�CLQ?KeFLEJ�O?CGSm�N?CLOBJFLEJt�omR\�CJH�TLRJ�LU�?KC?Q?�DEmSO?F?Q?'�6?|GCT� o?S?FJOmF� WJDEJEID\p� NBJWmDefEID\'� <|G� D?CMG� O?EJR?D\K?� TLH?Kep� \O� @Jp� EJH?� NmKDNmFeUWJp� FJ@LB�eFLRJ� CLNBJDmR?O'� _mFWLEL� TL@GEe�JRJDIg� @LHLUEI� HeDEJCOL@JpBLKmUEI'

4NGB�e�DJKJ@?�e�FGRJO?@e�DLKmp�?NmDR\�FH?KJ@?�F�HLEe'<GRJOL� NB?DE?BL� Om@CLELp� NBJoBLCL� FJ�JFOL@J� S� OFmEL@J'4E?RJ� N?CLOBJFLCm� omRJ@J� FJ�JFLCJ@J� DOLEGBE\@Jt� CL� CJHN?FC?� RLD?}mF� m� NBJD@LO'�=LC\EI� E?BEJ� S� DJBCJOJ'� _mFWLELNBJDELBLRJD\�oLQLE?'

PLDmKLf@?�TL�DE?RJ�S�DGBGK�NBJf@C?��LE@?D~GBJ�NB?H?KJEIWLDp� NGBGNRmELCJS� N?FDELCDIOJ@J� NmDC\@Jp� ?N?FmKLCC\@J� S|LBEL@J'�2mDR\�Q?DEJCJ�\�N?K\OeFLF�CL�J@�KmFWLEL@�m�NmKOBGDRJFp\OJS�@?BLRICJS�FNRJF�@Lf�CL�N?FDELCMmF�ELOG�}JBG�NBJSC\EE\'

_mFWLEL@� MmOLF?� N?oLWJEJ� CL�e� FGWmBCU� TomBOep� E?@e� FDLKm� FmKoeFLf@?� FGWmBCU� @?RJEFep� L� ?NmDR\� FDm� F�LC?Fef@?NL@+\EI�N?R\QRJH'�2mDR\�TomBOJ�DEBmRIMm�DNmFLUEIg��`�DI?Q?KCmFmK�FLD�FmK+�|K|LU'''�

2B?}Lf@?� KmFWLE� m�}G� BLT� K\Oef@?� TL� Q?DEJCe'� _mFWLEL@LHLUEI� HeDEJCOL@Jp� KGO?EBL� ?oEJBLf� DRI?TJp� L��mDECLKM\EIN?FDELCMmF�CL�O?C\H�QBJ@CeRJg

qk[

L������0���/&��������.��/L�0&�������&,�%���&�&�%����/L� &���&����& &�+��������/$�������.��&��+����� �����

�G�NBJSC\EE\�K?oBG�FNRJCeR?�CL�DEBmRIMmFp�m�O?|GC�T�CJHTQLKeFLF�E?S�FGWmB�T�TLK?F?RGCC\@'

qY� DGBNC\� CL� DGR?� 4G@e�?Fe� CLDO?WJRJ� N?R\OJ'�=JOFLBEJBeFLRJ�TL� DGR?@�CLK�N?E?O?@'�<JDJRLU�KF?H�DEBmRIMmFCL�DEG|e�CLK�DGR?�N?WGBGT�CGFGRJOJS�RmD?O'�0L@�N?DJNLRJDIN?DEBmRJ'� :G� TCLUp� }?� T� EJ@J� HR?NM\@J� DELR?D\p� E?|NmKDeFLUD\�B?TDEBmRIC?U'�XLWJ@?�N?R\OmF�m�FmKOBJFLf@?�N?�CJHF?Q?CI'�`�OBJWe�CL�MmRG�Q?BR?g

*�4?EC\p�?E?WeFLEJ�DNBLFL�:G�TCLUp�WJ�FmK�CL�?Q?�F?QCUp�WJ�FmK�@?Q?�OBJOep�*�o?�|

N?R\OmF�oeR?�T?�KFL�B?�p�*�F?B?Q�FEmOLfp�m�@J�S?Q?�|GCG@?�L|K?�DGRL�S�EeE�TLFGBELf@?�F�RmD'�8RG�F?B?Qp�CG�TCLUWJ�CL�JHDJRp� m� TLNBJ@mEJF�J� N?� KBeQmS� DE?B?Cm� BmS� 4?O?RL� mT� D?ECmOjBL�XeB?Q?p�N?OJCeF�DGR?'

2B?}LUD\�T�?H?B?CCJ@�FmKKmR?@�m�SKe�F�CLNB\@m�NBJDmROLDGRL�<'�6'�4L@�?KJC'�7LNE?@�F�RmDmp�L�oeRL�F|G�CmWp�N?WeF�\ORLMLCC\�Be�CJWCJH�TL@OmF'�2?FGBELU�O?CG@�e�D@GBmWOJp�LTL� @C?U� N?DJNLRJDI� DEBmRJ'� 0L� @mS� DEGN?FJO� FJCmD� @GCGoeO?FJ@� RmD?@'� _?NLKLU� DEG|OJp� m� \� F|G� CL� 2JRm'� 0eEN?FmK?@R\UEI� @GCGp� }?� F� DGRm� f� N?RIDIOG� FmSDIO?'� >KeFmRI�JC?U�N?CLK�BmWOep�oLWe�F?B?|m�EmCm�N?��R\He�m�TLDmKOep}?�RG|JEI�omR\�B?TFLRGC?��DEBmRGMIO?��@?QJRJ�CL�B?TK?Bm||m'0eE� WGOLU� K?� KBeQ?�� Q?KJCJ� C?Wmp� o?|� �HLEJ� CG@Lf� OeKJp� LO?RJ�F?B?Q�TLS�?F�K?�HLEp�BJDDU�NGBG�|K|LU�K?B?Qe�S�N?R\@JEL�RmD?@�KmDELUD\�K?�/\HLFJ'

2?FDELCMmF�EeE�CG�TLDELUg�NGBGS�RJ�CL�mC�m�DGRL'�4E?\EIEmRIOJ� MJFmRICm� ?ToB?fCm� DEmSO?Fm'� 6?C\� FmKKLU� K?� ?KC?Q?Q?DN?KLB\p�DmKR?�K?�KBeQ?Q?p�L�DL@�mKe�DNLEJ�K?�HLEJp�omR\�\O?�DE?�EI� DEmSOL'

�G�\�K?oBG�CG�TLDCeFp�\O�oeKJEI�@GCG�DEmSO?FJSp�OL|eWJp}?�F�6BGM?Fm�f�oLQLE?�N?RIDIO?Q?�FmSDIOL'�PFmKEmR\�DL@G�S�NBJomQNmDRLCGMI'� 4FmELR?� F|G'� <JH?K|e� CL� Q?Bo?O� omR\� CL�?Q?MFJCELBJOL� mp�KBm@LUWJp�NBJDReHLUD\'

6?R?� F?DI@?�� F� RmDm� @m|� /\HLF?U� S� _?oB\CO?U� FNLRJ

qkY

N?DEBmRJ'��G� FmKoJFLFD\� DLCmELB�4?OmR� Tm� DGRL�=LR\FJp� \O� \K?FmKLFD\� ?NmDR\'� <L|O?� N?BLCGCJS� F� C?QJp� FmC� TLDEBGRJFD\'_?� @GCG� NBJomQLf� OmRIO?H� MJFmRICJHp� m� @m|� CJ@J� Oe}?FJSQ?DN?KLBCJO��TI?'

:GTLoLB?@�CL�K?B?Tmp�}?�FGKG�T�_?oB\COJ�K?�/\HLFJp�NB?DE?NGBGK� HLE?Up�}?� CL� XBJ|mFDIOm@p� N?OLTLRLD\� F?B?|L� DEG|L'XLWJ@?� K?oBGp� \O� F?B?|m� F?\OJp� ?oGBG|C?� B?TQR\KLUWJDIpHJRIMG@� NmKDeFLUEID\� FNGBGK'�2?OLTLRLD\� NGB�L� OeRG@GECLRLCOL'��?OmRIOLCLKM\EI�OB?OmF�DJNRUEI�N?�OmRIOL�WGBQ�F�DE?B?CeRmDe�S�mKeEI�KLRm'�PL�CJ@J�NmKDeFLfEID\�B?FL@J�N?CLK�Z��F?\OmFtF?B?|L�DEG|L�FmKKLRGCL�FmK�@GCG�CL�@GEBmF�N+\EKGD\E'

6?BEJEI�DJNCeEJ�N?�CJHp�LRG�DEBJ@eUD\p�}?o�CG�CLFGDEJomKJ�CL�DGR?'�<mKH?K|e�T�MJFmRICJ@J�CL�=L�eBe'�0eE�TeDEBmWLU@?�H�Dm@?H�o?S?FJOmF'�4RmK?@�TL�CJ@J�NBJomQLf�KmFWJCLp�K?WOLOe}?F?Q?p� S� ?N?FmKLfp� }?� N?R\OJ� o+UEI� RUKGSp� QBLoeUEIpLBG�EeFLRJ�KGOmRIO?H�Q?DN?KLBmF�m�@LUEI�TLBLT�B?TDEBmRUFLEJNmK��O?R?U'

XGBe�DF?�H�o?S?FJOmFt�?H?ECJOL@J�NBJDELUEI�DLCmELB�4OLRLT� m}G� KF?@L� mC�J@J� DLCmELBL@J� m� NB?FmKCJO�NmKNmRR\� BLS?Ce4ELBJS'� <DmH� CLD�*� q.'� 1ToB?fCC\g� ?KJC� OeRG@GE�=�jZ.pNmFOBmDmFOLp�N+\EI�22a�m�N+\EI�Be�CJMI'��?�oeKGp�E?�oeKGp�LRGCG�K?TF?RJ@?p�}?o�F?B?Q�B?TDEBmRUFLF�CL�JH�RUKGSp�O?RJ�@JCGKLRGO?'

:G�SKG@?p�LRG�om|J@?�NB?DE?�RmD?@'�<JH?KJ@?�omR\�HLEJCL�XBJ|mFDIOm@'�<�DGRm�WeEJ�OBJOp�NRLWp�T?SOJ'�deEJ�N?DEBmRJ'''=?|Gp�@J�DNmTCJRJDI�

_mRU� FDmH� CL� EBJ� QBeNJ'� 2GB�L� QBeNLp� T� \O?U� SKe� \pNB?OBLKGEID\�|JEL@J� K?� K?B?QJ� S� eKLBJEI� CL��O?Rep� KBeQLQBeNL� Tm�4ELBJ@�NmKG� T� K?RJCJ�FmK�OBJCJWOJp� KG�oBLRJ�F?KepNB?DE?�CL�HLEe�bBJM\p� L� EBGE\�*�CG�NL@+\ELU�F|Gp�HE?�CGUO?@LCKeFLFp�*�FKLBJEI�T�Q?BoOL�EL�oeKG�CLDEeNLEJ�FmK�K?B?QJp}?�FGKG�CL�6BGMmF'

6eRG@GE� Tm� @C?U� CL� RmF?@e� OBJRm'� <mKOBJFLf@?� F?Q?CI'0?@e�}?�@Lf@?�FDI?Q?�?KJC�OeRG@GEp�NGBGOJKLU�S?Q?�FmKBLTeCL�NBLFG�OBJR?p�HLS�CLDEeNLf�TQ?BJp�}?o�F?B?Q�Ke@LFp�}?�@JDJRICm�m'

4ELBJS�Tm�DF?f��NmFOBmDmFOJ�OBG�G�m�OBG�G'�5WLDEI�F�o?UN?B\K� mT� DEBmRIM\@J� N?RmEJWC?Q?��G~L� BLS?Ce� N?BJFLf� FDmHgF?\MEF?�BFGEID\�FNGBGKp�CmHE?�CG�TFL|Lf�CL�F?B?|JS�F?Q?CI'

qkn

PLDO?WGCJS�F?B?Q�*�e�oGTRLKKm'�PLS@Lf@?��O?Rep�FJTF?R\f@?LBG�E?FLCJH'�2BLFG�OBJR?�F|G�@m|�HLEL@Jt�SKG@?�KLRm�F�CLDEeN'<?B?Q� NmK� TLDR?C?U� HLE� FJC?DJEI� DF?�H� BLCGCJH'�2BJH?KJEICL�N?@mW�W?EL�528�OjBL�dLSOJ'�:LOLTeU�KF?@�B?\@�TL@OCeEJF?B?Q?Fm� K?B?Qe� CL�/m}LFep� L� KF?@� NGBGQ?B?KJEJ� FmKDEeN� CLNBJDmR?O�2mKRJDD\'�8RG�FT\EJ�F?B?QL�F�@m�?O�CG�FKLR?D\g�W?EL528�NBJoeRL�TLNmTC?'�=J�CLFmEI�@eDmRJ�DEBJ@LEJ�CL��F?Q?CIpo?� ?KWLSKe�CJS� XJDEBJS� NmQCLFD\� FDRmK� m� NB?DE?� TL@m�LFD\@m|�F?B?QLp�}?�FEmOLF'

<?B?Q�B?ToJEJS'�:LDGRGCC\�CL@�K\Oef'��mCOJ�OJKLUEID\CL��J�� DEBmRIM\@p� DELBJOJ� NmK� HLEL@Jp� DNGBEm� CL� O?DEeBLHpNRLWeEI�T�BLK?DEJp�KmEJ�MmReUEI�N?�BeOLH'�7LKJ@?�FDm@�RUK\@TLBLT�N?OJCeEJ�DGR?�S�mEJ�T�@LSC?@�F�RmDp�o?�NBJSKeEI�omRI�mF?B?|m�DJRJ'�amDEI�F?B?|JH�D?EGCIp�}?�NBJoeRJ�CLKFGWmBp�FDGRm�CG�TLDELRJ�CmO?Q?'

=J��H�CG�WmNLRJp�}?o�F?CJ�CG�DNLRJRJ�DGRL'0LOJS�oeF�@mS�?DELCCmSp�NB?}LRICJS�omS�e�XmBWLC}JCm'

U �!T��VRb$U%

.q� DGBNC\� NGBGoeFLU� F� DGRm� `'p� F� O?@LCKJBmF� XeBRLOJ� S:GHBJDEL'�:GDN?KmFLC?�CLDO?WJRJ�N?RIDIOm�F?\OJ'�:G�SKG@?�K?OBJ�FOJp� EmRIOJ� FJH?KJ@?� F� N?RG'� _mFWLEL@jN?FDELCM\@�*`B?DRLFmp� 5R\Cm� S� X?QKLCm�*�OL|G@?�SEJ� K?� OBJ�FOJp� DL@m�|mKG@?�CL�NBJDmR?O��eNL'�7LT?@�T�?H?B?CCJ@�FmKKmR?@p�}?�EL@OFLBEJBeFLFp� NGBGH?KJ@?� RmDL@J� @J@?� OLNRJMmp� KG� WLDE?FmKoeFLRJD\�X?Q?DRe|GCC\� KR\� N?FDELCMmFp� F� ?O?RJMU� DGRL�X'0eE�o?S?FJOJ�?N?FmKLUEI�@GCmp�}?�NmK�WLD�CLDO?Oe�N?RIDIO?Q?FmKKmRe� oeF� BLCGCJS� dGBG@?�p� BGKLOE?B� NmKNmRICJH� FJKLCI2GBG@JDIO?��?oRLDEJp�oBLE�4EGN?F?�p�}?�N?H?KJF�mT�2?RELF}JCJ'<L|O?�N?BLCGCJS�F�?om�C?QJ�N?NLF�e�F?B?|m�BeOJ'�0?BEeB?FLCJSpCG�TBLKJF�J�ELf@CJMIp� TLQJCeF�TL@eWGCJS'

<mK�.��*�.w�DGBNC\�NGBGF?K|e�WGBQ?FJS�FJ�OmR�?H?B?CC?Q?FmKKmRe�qjQ?�BLS?Ce�F�DGRm�6'p�NmK�RmD?@'�2mDR\�FJ�O?Re�N?ORJOLF@GCG�K?�DGoG�?OBe|CJS�BG~GBGCE�oGTNGOJ�/GEeC�EL�N?FmK?@JFp}?�@LU�CLOLT�FmKmSEJ�CL�/G@OmF}JCe'�1NmDR\�FmC�TB?oJF�TomBOeFmKKmRep� DORLF�@GCm� N?K\Oe� TL� NBLMUp� FJ�OmR� m� TL� FJH?FLCC\FDmH�?H?B?CCJH�FmKKmRmF�EL�N?oL|LF�}LDRJF?��K?B?QJ�S�eDNmHmFCL�C?F?@e�DELC?FJ}m�F�o?B?EIom�T�F?B?Q?@'

qkw

2B?}LUD\�T�KBeT\@Jp�DmKRLU�DF?Q?�O?CJOL�m�*�F�K?B?Qe�FC?FG� CGTCLCG'� PCLUp�}?� CL� /G@OmF}JCm� TeDEBmCe� oLQLEI?HTCLS?@JH'�0eKJ�F|G�FmKmS�RJ�Tm�DRe|oJ�oGTNGOJ�beMeRp��?OpPGRGCJS�EL�oLQLE?�mC�JH�N?FDELCMmF'�<�DGRm�6'�TLC?W?FeUp�?NmDR\WGBGT� 0BmSMU� FDEeNLU� K?� DGRL� /'� N?NB?}LEJD\� Tm� DF?�@JK?oBJ@J� TCLS?@J@Jp� }?� ?NmOeFLRJD\� @C?U� NmK� WLD� @?Q?N?BLCGCC\'��q�DGBNC\�\�F|G�F�DGRm�/'�2B?}LUD\�T�H?B?oBJ@1DEB?FGBH?@p� o?S?FJ@� m� NLROJ@�XJDEBJ@p� RJMLBDIOJ@�`B?@pDN?OmSCJ@� m� TBmFC?FL|GCJ@� OeRG@GECJO?@p� RG@O?@�P?B\CJ@pQLB@?CmDE?@� _BLNLO?@p� K?DFmKWGCJ@��eB?@p� FNGBEJ@� mFmKFL|CJ@� F� o?U� <GK@GKG@p� ?BQLCmTLE?B?@� HLBWmF� dGBGN?@pB?Te@CJ@� b?BKmf@p� d@mRG@p� PLE?O?Up� 9|LO?@� S� mC�J@J'4GR\CJp�K?FmKLF�JDIp�}?�FmK+�|K|LUp�TmoBLRJD\�QB?@LK?U'

*�AE?�|�CLD�oeKG�o?B?CJEJp�\O�FJ�FmKmSKGEG��*�OL|eEI'2RLWeEI�HR?NMm�S�KmFWLELp�m�CLFmEI�Q?DN?KLBm'_?FQ?�KJFJRJDI�F?CJ�FDRmK�TL�@C?U'�=?��o?S?FJOJ�H?EmRJ

@GCG�NB?F?K|LEJp�LRG��H�CG�NeDEJF�6LBR?'�2B?F?K|LUEI�@GCGK?�CL�?Q?�MFJCELBJOL�N?FDELCMm��TI?p�PL\MIp�5R\CLp�@mS�eWGCIT�NBJDmROL�6L@+\COJ�S�X?QKLCL'

:L�N?R\H�F|G�N?OmCWJRJ�|LEJ�FmFDJ'�P?R?EL�?DmCI�NJ�LRLDIDF?fU�OBLD?U'�=mS�OmCI�DNmEOCeFD\'�=LF�oJ�MG�oeEJ�N?QLCJSTCLO�''�6mRIOL�BLTmF�?QR\KLUD\�CL�K?B?QG�DGR?'�:GTLoLB?@�@GCG?OeELF�H?R?K�RmDe'

<�RmDm�omR\�DGRL�<?R\�XBJ|mFDIOL�CGDN?KmFLC?�KmDELU�To?OeF?Q?CI'� `� TmDO?WJF� T� O?C\p� OmRIOLBLT?F?� @eDmF� TLR\QLEJ� SFmKoJFLEJD\p�L�@mS�OmCI�omQLF�TL�@C?Up�CG@?F�NGD'�<|G�FJDEBmRJFEBJ�Bm|OJ�L@eCmMm�t�C?F?��DL@�CG�@?|e�TLORLDEJp�E?@ep�FmKomQ�JFmK� F?B?QLp� DmKLU� CL� O?C\� S� |GCe� DEG|O?U'� <BLT� m� TNB?EJRG|C?Q?�o?Oe�N?DJNLRJD\�DEBmRJ'�`�TLFGBCeF�CL�NBJDmR?O2m}JDIOL�S�?NmDR\�WJDEJ@�N?RG@�CL�FGBHJ�@m|�DGRL�_?oBL�*<?R\� 6BGMmFDIOL'� PL� @C?U� CLFTK?QmC� F?B?Q��RG� @mC?@GECmDEBmRICL'� <mKRL@?O� N?BLCJF�@GCG� RGQO?� F� BeOe� m� F� KGOmRIO?H@mDM\H�@?Q?�O?C\'�:mW�NGBGDJK|eU�CL�NBJDmROe'

:G�FmK+�HLF�J�KLRGO?�WGBGT�CGDN?KmFLCe�NBJQ?Kep�N?FGBCeF\� F� CGKmRUp� .� FGBGDC\p�}G� BLT� K?� DGRL�/'�A?We� NGBGKLEJ� CLDH?F?O�DF?U�DELBe�NL@+\EO?Fe�oRUTep�}?�@Lf�Dm@�KmB�FmK�F?B?|JHOeRI�m�FmKRL@OmF�DEBmRGC'�2?oLWJF�J�X?QKLCep�Bm�JF�N?RLKCLEJ}G�?KCe�KGRmOLECe�DNBLFep�LRG�F?CL�DL@L�TK?QLKLRLD\p�NB?�}?@GCm�SKGEID\'

qkk

*�d?@e�FJ�Cm�DR?F?@�CG�TQLKLRJ�NGBGK�2LDEGBCLO?@p�}?oHE?DI�TL?NmOeFLFD\�FL�?U�K?CGWO?U��*�DNJELRL�F?CL'

`� �S� FmKN?FmFp�}?� O?|CJS� TLRJ�JF� DF?U�B?KJCep� m� WLDJEGNGB�CG�ELOmp�}?o�?oE\|eFLEJ�O?Q?DI�K?KLEO?FJ@J�EeBo?EL@J'PBG�E?Up� CG� TCLUp� HE?� o� H?EmF� MmfU� DNBLF?U� TLSC\EJD\'2LDEGBCLOj4ELBJS�*� K?oBL� RUKJCLp� LRG� ELOe� DNBLFe� @?|GTB?Te@mEJ� EmRIOJ� oLEIO?'

0?Km�X?QKLCL�TLNB?N?CeFLRLp�}?�DL@L�TL?NmOefEID\�@?fU/mRGU'� 2?NB?DJRL� F� @GCG� TLNJDOJ� K?� 4ELB?Q?p� }?o� MGSK?TF?RJF� WLD� K?� WLDe� FJKLEJ� /mRm� ?K\Q� T� @L�LTJCe'� 2J�eTLNJDOe�S�}JB?�K\OeU�X?QKLCm�TL�EGp�}?�TC\RL�@GCm�T�DGBM\|eBoep�m�FmK+�|K|LU�T�Ke@O?Up�}?�KmFWLEL�*�TCL@GCJEm�o?S?FmKBeTm'

0?Km�CL@�?o?@�TKLFLR?D\p�}?�@GCm�BLCm�G�K?FGKGEID\�FNLDEJF� o?Up�}?� X?QKLCL� @?QEJ@G� K?F�G� ?NmOeFLEJD\� /mRGU'� 0J@WLD?@�X?QKLCL�N?R\QRL�DO?Bm�G�FmK�@GCG'�<�OFmECm�qkZn�B?OepNmK� WLD� CLDO?Oe� N?R\OmF� CL��NJELRIOep� F?CL� B?TmBFLRL� DGoG�BLCLE?U�BLT?@�mT�BLCGCJ@J�F?\OL@J�528'�X?QKLCL�Nm�RL�DRmK?@oLQLEI?H�KmFWLEjQGB?�Fp�}?��H�DNBLF|Cm�S@GCC\�RGKFG�WJ�oeKGHE?� TCLEJ'

9Ke�CL�@mDMGp�KG�NGBGKeW?BL�NGBGDEBmRUFLFD\�T�N?R\OL@J'=GCG� MmOLFJEIp� WJ�@?\� DL@??o?B?CL� TLFKLRL� F?B?Q?Fm� FEBLE'PCLH?K|e�OeDOJ�TLOBJFLFRGCJH�oLCKL|mFp�FLEJ�S�N?CLKoJFLCmL@NeRIOJ�FmK�mC+fOMmS'�:G�|LRI�oeR?�m�KmDELEJ�FmKRL@?O'

dGBGT�NBJDmR?O�2JRe��Ke�K?�DGRL�4G@e�?F?�p�TFmKDmR\�*�CLDGR?�7LO?Fe�m�F�2L�?FmS�TLC?W?FeU'�0eE�TeDEBmWLU�>Q?B\p�OjBL1BDIO?Q?�T�KBe|JC?U�:LELRO?U�EL�d?BC?oBJF?Q?j/GFLKC?Q?p}?�RmOeFLFD\�F�XmBWLC}JCm�m�EGNGB�m�?F�K?�@mDM\�N?DE?U�DF?f�D?ECm'�>Q?B�NGBGKLf�@GCm�TF+\TOJ'�d?BC?oBJFJS�EG|�oGBG�O?C\pm�@J�FKF?H��KG@?�N?�TF+\TOLHp�FmK�NeCOEe�K?�NeCOEe'�=?\�K?B?QLpomRL�BeOLFJM\�B?oJEI�FBL|GCC\g�CmHE?�CG�TK?QLKefEID\p�W?@e�\���C?�e'

<C?Wm� Y� FGBGDC\� @J� F|G� F� 4GBGKCJMmp� KG� TeDEBmWLUTCLS?@?Q?�=GRI?KmU'� :LDEeNC?Q?� KC\� @J� e� <LCIO?FmSt� EeEFmKFmKeU�@?U��OmRICe�E?FLBJ�Oep�KBe|JCe�DR'�N'�PLN?B?|M\>FLCCe'�_LRm�@LB�ef@?�N?WGBGT�4EG~O?Fep�KG�CL�NBJDmROe�TL�R\H?@� NGBGKLU� ?KCmS� B?KJCm� NBJFmE� FmK� OjBL� 6LB@GRUOL'0?@e�}?�F?B?Q�B?oJEI�e�MmS�?O?RJMm�?oRLFep�CG�TLEBJ@eUWJDIFmK+�|K|Lf@?�K?�DGRL�XmoBOJ'�<FGW?Bm�w�FGBGDC\�NGBGNBLFR\f@?D\

.��

WGBGT� 4\C'� PF+\TO?FJS� ?N?FmKLfp� }?� CL� NGBGH?Km� WLDE?TLDmKLUEI�o?�FOLBm�T�<?RO?FJ�'�9Ke�NGB�JS'�aJB?OJ@�NRGD?@B?TRJRJD\�F?KJp�m�@mD\MI�DBmoR?@�NB?ORLF�DEG|Oe�WGBGT�F?Ke'XBmK�oeF�TBLKRJFJSg�@mS�OmCI�NmBCeF�e�F?Kep�m�@GCm�K?FGR?D\DOeNLEJD\'�XeKe�OeNLEJD\�CL�/G@OmF}JCmp�@mBOeUp�EmRIOJ�CGTCLEJp�WJ�F�DF?�Sp�WJ�F�F?B?|mS�OB?Fm'

<� CGKmRU�@J� F�=JWOmFM\H'�2mDR\� N?ReKC\� N?WGBGT� FGBH�KG@?�K?�DGRL�X'�:'p�K?�@eB?FLC?��HLEJ�F�WJDE?@e�N?Rmp�KG�@LUKmDELEJ�TF+\T?O�K?��G~L�CLKBLS?Ce�P?BJWL'�0L@�KmDELU�ORJWOeK?�?KCmf��KmFWJCJ�F�DGRm�XGBGTMm'�2?�K?B?Tm�@GCm�K?FGR?D\�}GBLT�DOeNLEJD\�BLT?@�mT�@?�@�O?CJO?@p�}?p�NGBGDOLOeUWJ�WGBGTN?EmW?Op�TFLRJFD\�Tm�@C?U�F�F?Ke'��?�F?C?�@Lf�?TCLWLEJ�

4GR?� XGBGTOL� QLBCGp� FGRJOG'� =G�OLCMm� T� MmOLFmDEUN?QR\KLUEI�CL�CLD'�1D?oRJF?�|�@?\�OeoLCOL� m�@mS�DEGN?FJSpWeKGDCJS�O?CJO�TFGBELUEI�eFLQe'�deU��GN?EJg��6?TLOp�O?TLOpE?�NGFC?�T�6eoLCm���<�e@?FRGCmS�HLEm�WGOLU�CL�P?BJWL'

<�K?RJCm�DJCmF�XGDOJKp�L�F�S?Q?�NmKCm||m�*�@?\�K?B?QL/G@OmF}JCL'

���

:G�TCLUp�WJ�K?FGKGEID\�@GCm�?NJDLEJ�@?U�eWLDEI�F�o?B?EIomTL� F?RU�5OBL�CJ�CL�/G@OmF}JCmp� EeE� \� o?B?FD\� e|G� F� RLFLH528'� >� MGS� DN?QLKp�}?� S?Q?� ?MG� TLOmCWeUp� EmRIOJ� @LRGCIOLWLDEJCOL�E?Q?p�}?�\�NGBG|JF�TL�N+\ECLKM\EI�@mD\MmF'��G�FRLDCGS� CG� DN?@JCp� L� EmRIOJ� C?ELEOJ�~LOEmFp�}?�}G� ToGBGQRJD\� FNL@+\Em'�2J�e� �H� N?� OmRIO?H� B?OLHt� oLQLE?� F|G� NBJTLoeR?DIpoBLOef� KLEp� NDGFKp� HLBLOEGBJDEJOJ� RUKGSp� NBJQ?Kp� KBmoCJHTeDEBmWmF�mT�F?B?Q?@'�=?|Gp�S�MG�NBJQLKLF�oJp�LRG�CL�EG�EBGoLDN?O?U'�0J@�WLD?@�@J�F�N?DEmSC?@e�CGBF?F?@e�CLNBe|GCCmpNmK� TG@RGUp� F� TL@LDO?FLCmS� TG@R\CMm'�=?�� DN?QLKJ� KJOEeUNB?DE?� CL� @L�JCep� L� WJELW� HLS� NB?DEJEIp� }?� @?FLp� DEJRIpoeK?FL� BGWGCI� CGTLK?FmRICmg� DNBLFR\EJ� CG@Lf� WLDe'� A?WeTLNJDLEJ� EGp� }?� NL@+\ELUp�}?o� oeF� K?Oe@GCEp� \OJS� o?KLSWLDEO?F?� HLBLOEGBJTeFLF� oJ� CL�e� BGF?RUMmSCe� o?B?EIoe� FXmBWLC}JCm�S�2GBG@J}JCm�F�qkZZ*Z[�B?OLH'�4N?@JC�MGS�NJ�e\O�BGF?RUMm?CGBjN?FDELCGMIjF?\O'

<mK�HFJRJCJ�NGBGH?Ke�CL�/G@OmF}JCe�N?�WLDp�O?RJ�DNJDeUMm�DN?QLKJp�NB?S�R?�W?EJBJ�T�N?R?FJC?U�B?OJ'�PL�MGS�WLD�\

NGBG|JF�e�DE?�BLTmF�omRI�Gp�Cm|�TL�?NJDLCJH�?MG�N+\ECLKM\EI@mD\MmF'��m�B?OJ�oeRJ�DN?FCGCm�TLFT\EJ@Jp�OBJFLFJ@J�o?\@J�TNGBGFL|CJ@J� F?B?|J@J� DJRL@Jp� m� T� CJH� @J� FJH?KJRJNGBG@?|C?'

=J� NGBG@LQLRJp� o?� @J� o?B?RJD\� TL� CL�e� FGRJOepCGNGBG@?|Ce�2BLFKe'

�,���0���"U"V�

.�.

7<�f�*g�7;�fA@�fA

*=ggA<h

������������u������� �����u�������� �$(�",������������ ��"�(" ������{�� ��"���%��� � (������%��� � (� ���� ��%�{��������-��������{��"���������'

����" ���������%�� ��,�%�������"���- " �����������$�����u�h�� �"{�� �� ����,��{�������� �������u������(�� ����r��(� ��"�%���"�����"��������������"���"������� ���������(��u�-�������%"(��� "�%'h��{���������{��!�� %�!"����������������(p�-�-� "��%��"�� (�,(��"���"���{"���v-����� ��$�������%����"����� "��������-��������u���������� ����$����������"�%� � ������'����{"������p��������u" ��uqk�kp��"u���������� �"���u�����-� �" �-� ��� " �-�����p�h���r"��"���r��"p��"������-"�����,� �+�(������������ ���%���������� "$���u����� �"�"x�������"p�"�%� "�������"��"���" ����"�%������� "$���"(�������� "$��u���r�(�"'

�����"��"�����,�$�������&����qkZZ�{������������"����({"�����u� ������"��"�%������������{���������$���'�������"���"�����{"��"�-"��� � "� (�%�uu� � ������'�#v-���%������� (���������� ����j��%����u�{"��,���" �������"�"�%��$��������"�%��� ����$����� "�p����-�-� "�������%������%���- � �� (�������+�������"$��{�� �� " �%u���{�%��-��"%��� uj%�u�������"�����'����{"�� "�$� (���%�������$��%j"� ����"��{�"-����"�%����u�����{���� � � ��%p����� (�u������������"���$�����"��p��� uj%�u�����������{������$"��r�%�"�%��� ��"�(��"����$�,�$"�'����{"��" ���"����(���-���"��������u���������� �"��-"����"���" �� �p�{�� �� "�����������%���������� ��"�$��%����"%'

h(�������%��u���-���,������������ ���"�%�%�"�- "������u������p�{�� ��{���� "�$� (���"���%�,(��������,������ ��"�(��" �� �"�%�-� ��� " ��%�"�'�x�� �������%���� ���"�%�����- "�����"��"�-"���u� ���� ��-"�(� ���"�%�%�,(� �����"�'� ���{"��{���� ����� ������"�����"�%���������-"��� �-"��%����������u����� "�$������ �������{�������������������-�����.w�� ��,��p�qkZZ�"�������� "$���u����� �"�"x�������"'�����,"�� �� "���%������q[�������"�%����� ��%������[�������� "$"����� .p[���{� � ����--�%� ������� ����-�'� �����{�� �� ������������������qn��� �%p�w�{���%�%p��u�{�� ����%��%��u����������)��(p�"�%���{���,����%�" ����p���u � ��%���"�(� "��" ��������������������,(��uu� �" �" �����.�n��� �%p��� �%��$�"�$����" "�%������" ���������uu� ����p�"�%�%�����(�%��{���"����"�%������"

.��

"��(���� ��'���������%�� ��,�������,"�� ����������%��"� p���-� �" (����u�����"�����{����"u����%�����(��$������u������"����"�%��"���$,����{���%�%����,�����"�%�����{"����", ����� ��������� �%�p�"-�" �� �� " �-��%� ,(��� �� %����� ��� "�� ���� ��� u" � ����� �������"�%��" ���'

���%"�$����u� �����$������"�%�����"�-��"����p����%�� ��,��p{����$��"��u�� ��$p����� ����������"�%�%�%� "������u��{������u������%��$����%����%� " ������ ��{��������%�����," �������"���j", ����" ��p��"���$������"�%�������"����� �� %� �����������u�$���u������ �������%� �%�" p� ���� u���%����u���"���'� ��� ������������ �������,����{���� ���%��� ���� ���� �� (� ����������� "�%� ���� ��" %"�$�����{����"%������uu���-���� ������"�%�" ���"�����"�������"�%�u���������(p� "�$� (�,� "�����u�����-� ��� " �"�%��� ��"�(�" ����j����p�,���" ����������%�" ���� p������ �"�%�%�%� "��%�{�����{������{������� -��������� �����"�(�����$$ ��{�� %��"���,������$����j-����, �'

���������� "������������%��"� ������uu�����"�%�",� ��(��u������"���"���� uj%�u�������������� �"�� "�$����" ����u�������������(��u����(�����-��"�%���������{"(�����"������� �u���u����� � " ���"�j��"��-�-� "������� "���� (�����" �����������"����"����-�, � �'���"�$�-��������u�������������%�� ��,���������{��" �������������������$"�%{�����"u������ �$��r��$�����",� ������"��"�$����� "� �"%���������$������ �� �������������%�����{��������� "�$��������������"���"�% ���"�%'� ����$�����{"�����{��"��"����� ��%�� �- ��"��"�p��������{���� u� � �u� "%���"����� u��� ������ ���"�%��� "�%�{� ��$ (u� �{�%����� ������"�(�%�uu� � �� ,"�� ��'� � ��� �$��%"�(�{"�� ��� ��-"�(� ��� ������+��� ���"�%� ��"�� ���$��{���� ��-���%�%�j� ��,��$���������� �%��%�'

��������{"��"�������,��������u� �u��"����%�����"�%������������������-����%����v � ���� ���� �����u��"��������%��$����% �"%������"������"%������--�������(���� ����"�%����{����{���'

�����������p�{�� ��{����{����������qkZw�������������"���p��%� ��� ���� u" � �u� qkZ[p� � {���� ���� ��"��u��� ��� "������� ��$���� �u�������� �(�"p�{�����u����{�������(�"��p������ ���u� (� �%���� ��-"�(����,"�� ���"$"����������� ��������������"��(�"�%�-� � ������p� "�%�,� "������{�� "�� ���� �u� ��������� " ������� ��j�"�%��������� "�%'

.�Z

������ ����&�&���� �"� ��������� ���Q� �L���P � � ���� ��%" � ������� �Q - W��� &*�*X ��&*������ ���/ ,��0��� �"MY

������ ����&�&��� ���,*�/ ,��0��� �"MN

.�[

R������ ����&�&��Q� � �����" ������� 0�*&�� Q�������,��� ���/ ��*��������& ���K���,��� ���/ ���'��� J������/ ������*����/ D��������& ���/

E���������,��� ���/ Q���� ZS*��[����& ���/ ���������,��� ���%��������/ �"M"

R������ ����&�&��Q� �"�� Q���P� � �����" ������ 0�*&�� ������/%��� ���� \�������/ ��*�������,��� ���/ D��������& ���/E������/

,�����*���� ���������& ���%/ Q������,��� ���%���������&��(*���� Q��������& ���/��������� * Q�������,��� ��*

.�Y

������ ����&�&��� ���,*�/ ������/ �"M"

������ ����&�&��� J��0��� �"MY

����W���"��� i� ��RW�� ��W��%# d!�'��e� W� d���W���e

jPNNkjPNK

�#��$U$Z�"�R�`����"��RT��

.�w

#T�TY��R

:L� TLHmKCmH� ?OBL�CLH� eOBL�CDIOJH� TG@GRIp� KG� BmWOL�4\CEF?BJEI�O?RmC?p�CGKLRGO?�@mDEGWOL�_JC?FLp�RG|JEI�DGR?�bReKC?'`O�DGR?�_eoCG�omR\�/G|LSDIOLp�X?CLBmFOL�*�omR\�4EBJ|GFLpELO� m� bReKC?� ToGBGQR?� WJDEJS� eOBL�CDIOJS� HLBLOEGB'� A?WCLFO?R?� DL@m� N?RIDIOm� DGRLp�}?p� @?F� HFJRm� @?B\p� FKLB\RJ� ?oMGS�eOBL�CDIOJS�?DEBmFGMIp�bReKC?�CG�EmRIOJ�FJEBJ@LR?�CLEJDON?RI?CmTLMm�p�LRG�S�F�qk.�*qk�k�--'�oeR?�?KCJ@�T�CLMm?CLRIC?CLSDFmK?@m�JH�DmR�2?D\CC\'�<�CI?@e�B?TOFmELRL�S�B?TFJFLRLD\OeRIEeBC?j?DFmEC\�NBLM\p�RUKCmDEI�CGN?HJEC?�o?B?RLD\�TL�DF?�CLMm?CLRICm�NBLFL�m�FJD?O?�EBJ@LRL�eOBL�CDIOJS�CLMm?CLRICJSNBLN?B�EeEp�CL�TLHmKCmH�?OBL�CLH�5OBL�CJ'

<�bReKCmp�F�omKCmS�DGR\CDIOmS�B?KJCm�qk.��B?Oe�CLB?KJFD\1RGODL�6?C?NLKDIOJS�*�NmTCm�G�W?E?FJS�528�1DEB?FGBH�*QGB?S� MJH� DN?@JCmF'� <JH?FLCC\p� }?� FmC� ?EBJ@LF� FmK� DF?f�@LEGBmp�\Oe�}JB?�RUoJF�m�FJD?O?�MmCeFLFp�DELR?�K?B?Q?FOLT?@CL�FDG�S?Q?�|JEE\'�=LEJ�CLFWJRL�DJCL�RUoJEJ�5OBL�Ce�FDm@DGBMG@p�KLRL�S?@e�NLROe�F?\MIOe�OB?F�m�TLNLRJRL�F�CI?@e�F?Q?CIoGTNGBGBFC?Q?�Q?BmCC\�KR\�5OBL�CJ'�4F?f@e�DELB�?@e�oBLE?Fmp\O�Q?F?BJF�DL@�1RGODLp�FmC��TLFK\WeFLFp�}?�E?S�S?Q?�CLFWJFoeEJ�FmKFL|CJ@p�FNGBEJ@�m�oGTO?@NB?@mD?FJ@p�}?�CLFWJF�S?Q?RUoJEJ�oRJTIOJH�m�K?oBGp�L�CGCLFJKmEJ�F?B?QmF�m�RJHG�'

<|G�UCLO?@�1RGODL�|JF?�MmOLFJFD\�OeRIEeBC?j?DFmECI?UNBLMGU� F� WJELRICm� �2B?DFmEJ�p� L@LE?BDIO?@e� EGLEBLRIC?@eQeBEOep�MGBO?FC?@e� m�WJELRIC\C?@e�H?BLH'

2?RIDIOL�N?RmMm\�}G�TLK?FQ?�K?�B?TFLRe�N?RIDIO?��KGB|LFJTFGBCeRL� CL� CI?Q?� NJRICe� eFLQep� TLNmK?TBUUWJ� F� NB?EJjKGB|LFCmS�B?o?Em'

2mK�WLD�Cm@GMIO?��?OeNLMm��1RGODL�?KC?Q?�BLTe�DNmFLF� TmDF?�@J�KBeT\@J�BGF?RUMmSCm�NmDCm�CL�FeRJMm�BmKC?Q?�DGRLp�O?RJCLKmS�R?�OmRIOL�N?R\OmF�T�K?N?@m|C?��N?RmMm�'�2?RmMm\CEJ�H?EmRJMJH� DGR\CDIOJH� HR?NMmF� LBG�EeFLEJ'� XmRI�mDEI� FEGORLp� LRG1RGODL�TLEBJ@LF�KF?H�DF?�H�KBeTmFp�OL|eWJg��d?@e�@J�CL�DF?�SBmKCmS� TG@Rm� @Lf@?� FEmOLEJ� NGBGK� @LTeBDIOJ@J� TLSKL@J'�:GFmKDEeNLS@?��� 6?RJ� |� KF?f� N?RmMm\CEmF� N?WLRJ� ?oBL|LEJHR?NMmFp�L�?KJC�T�CJH�TL@LHCeFD\�CL�1RGODep�FmC�*�FJD?OJS�mOBG@GTC?��oeK?FJ�*�?KCJ@�eKLB?@�N+\DEeOL�N?FLRJF�N?RmMm\CELCL�TG@RUp�FmKmoBLF�Be�CJMUp�OJCeF� ��� QGEI� m�T?FDm@�DN?OmSC?

.�k

FmKmS�?Fp�CG� TFL|LUWJ�CL� EGp�}?�KBeQJS�N?RmMm\CE�DEBmR\F�eCI?Q?'�2mDR\�E?Q?�N?RIDIOL�N?RmMm\�CL�DRe|om�F�Cm@MmF�H?EmRLTLNB?E?BJEJ�1RGODe� K?� O?CMGCEBLMmSC?Q?� ELo?Be'� /J�LFD\?KJC�FJHmKg�TLRJ�JEJ�DGR?�m�FJ�HLEJ�K?�:m@GWWJCJ�CL�B?o?Ee'8RG� TFmKEJ�1RGODL� DO?B?� FEmO'� <� 6BLO?Fm� S?Q?� LBG�EeFLRL?H?B?CL� TLRmTCJMm� ��oLC�eM��� m� N?FGBCeRL� CL� @mDMG� NBLMm'1RGODLp�?KCLOp�eEmO�FKBeQG'�0GNGB�S?Q?��eOLRL�F|G�Cm@GMIOL|LCKLB@GBm\'��?o� CG� N?EBLNJEJ� K?� O?CMELo?Bep� FEmOLWGFmTLRJ�LR?D\�EmRIOJ�DL@?@e�FDEeNJEJ�K?�eOBL�CDIO?��K?N?@m|C?�N?RmMm�'

5�oGBGTCm�qkZZ�-'�1RGODL�FEmOLf�T�B\KmF�N?RmMm���K?�5OBL�CDIO?�2?FDELCDIO?��8B@m�p�DELf�omSMG@�e�D?ECm��XeRLFL��m�KmDELf�NDGFK?�0?N?R\�'

1RGODL� TLF|KJ� FFL|LF� BmKCG� DGR?� bReKC?� RG@OmFDIOJ@pQ?BKJFD\�EJ@p�}?�FmC�RG@O?'�<�NmTCm�m�B?OJ�FmC�DRLFC?�F?UFLFe�B\KLH�528�CL�/G@OmF}JCm'

���

d?E'�1DEB?FGBHLp�E?oE?�1RGODep�\�FNGB�G�N?oLWJRL�CLFGDCmqkZY� -'� XeR?� MG� F� DGRm��?BKJCMm� CL�/G@OmF}JCm'� 5� MG� DGR?F@LB�eFLRL�D?EC\�528�NmK�O?@LCKeFLCC\@�N?B'�ABmCL'�1RGODLoeF�E?Km�e�D?ECm�ToB?S?FJO?@'�6?@LCKL�OFLBEJBeFLRL�F��O?Rmpmp�\O�TFJWLSC?p��HR?NMm��DNmFLRJ�oLQLE?�F?\MIOJH�NmDGCI'�1RGODL@LF� QLBCJSp�@JR?TFeWCJS� Q?R?D� m� TFGBCeF�CL�DGoG�eFLQe�FDmHNBJDeECmH'

5KBeQG�\�TeDEBmRL�S?Q?�qw�DmWC\�qkZn�-'p�CL��GKBJS�FGWmBpe� DGRm� XGBGTOLp� OeKJ� TJ@?FJ@� BGSK?@� NGBG@LB�eFLRL� D?EC\ABmCL'�/UKCmDEI�m�N?FDELCMm�DF\EOeFLRJ�BLT?@'�1RGODL�NB?FLKJF|FLFm� B?T@?FJ� T� DGR\CL@Jp� N?\DCUFLF� �@� @GEe� FJTF?RIC?�o?B?EIoJ� 528p� LRG� ?KC?WLDC?� NJRIC?� DReHLFp� O?RJ� RUKJ?N?FmKLRJ�S?@e�NB?�DF?��EeBo?EJ'�P?OBG@Lp�eFL|C?�NBJDReHLFD\K?� B?T@?Fp� T� \OJHp� \O� FmC� DL@� FJDR?FJFD\p� �@?|CL� oLQLE?CLFWJEJD\�'

2BJS�RJ� DeF?Bm� KCm� CLDJRIC?Q?� FJDGRGCC\� RG@OmF� CLC?F?TK?oeEm� 2?RI}GU� TLHmKCm� TG@Rm'� <mKKmRJ� 528� DE?\RJ� FoGTNGBGBFCJH� o?\Hp� ?o?B?C\UWJ� RUKCmDEI� NGBGK� CLDJRR\@FLB�LFDIO?Q?�eB\Ke�EL�S?Q?�N?DmNLO'�XLQLE?�N?FDELCMmF�CLORLR?E?Km� DF?�@J� @?R?KJ@J� Q?R?FL@J� CL� N?Rm� DRLFJ'�=LRm� QBeNJFmKmS�RJ�F�L@GBJOLCDIOe�?OeNLMmSCe�T?Ce�K?�:m@GWWJCJp�}?o

.q�

DOLTLEJ�DFmE?Fm�DR?F?�NBLFKJ�NB?�FJTF?RICe�o?B?EIoe�eOBL�CjDIO?Q?�CLB?Ke'�XmRI�mDEI� FmKKmRmF�528�NGBGS�RL� E?Km� O?BK?C@m|�2?RI}GU�m�5OBL�C?Up�LoJ�NB?K?F|eFLEJ�ToB?SCe�o?B?EIoeTL�DL@?DEmSCep�D?o?BCe�eOBL�CDIOe�KGB|LFe'

0eEp�F�5OBL�Cmp�\�FEBGEf�TeDEBmRL�W?E'�1DEB?FGBHL'�XeR?�MGNmK� WLD� DF\EL� ToB?�p� �q� DGBNC\� qkZn� -'� O?R?� DGRL�:LCWmROL4EBmROmFDIO?Q?� BLS?Ce'� =Jp� RG@OJp� \O� TFJWLSC?p� DO?B?B?TN?WLRJ�}JBe�B?T@?Fe�NB?�FDG�*�NB?�CGKLFCf�o?S?FG�@JCeRGpNB?�TeDEBmWm�T�E?FLBJ�L@J�N?�ToB?�p�NB?�K?Rm'''�0?Km�\�FmKWeRLp}?�CLSOBL}J@�KBeQ?@p� \OJS�N?BLKJEI�}JBJ@� DGBMG@p�@?|GoeEJ�EmRIOJ�o?S?FJS�E?FLBJ�p�L�W?E?FJS�1DEB?FGBH�oeF�ELOJ@CLS}JBm�J@� KBeQ?@'� <mC� NGB�JS� B?TBLKJF� CLDp� KmFWLEjN?FDELCMmFp�}?�DL@m�NGBGS�RJ�O?BK?C�F�5OBL�Cep�*�EGBGC?FGNmKNmRR\�N?DELFJR?D\�oeR?�K?�CLD�FmKBLTe�CGK?FmBRJF?p�H?W�@JNGBGoeRJ�F|G�W?EJBJ�B?OJ�F�BGF?RUMmSC?jNmKNmRICmS�o?B?EIom'PLH?KL@J�F?\OmFjN?FDELCMmF�MG�CGK?FmB+\�DO?B?�@JCeR?D\'

<?DGCJ�\�FmKmS�RL�NBLMUFLEJ�@L�JCmDEO?UjDGOBGELBO?UK?� O?@LCKeFLCC\� .Z� 0<� 528� �=LOmFOL�p� L� W?E'�1DEB?FGBHLNBJTCLWJRJ�E?Km�O?@LCKJB?@�?H?B?CJ�O?@LCKeFLCC\�MI?Q?�|FmKEJCOe'� 1KCLO� TJ@L� TC?Fe� CLD� B?TReWJRL'� :L�� KBe|CJSo?S?FJS� O?RGOEJF� e� CLDRmK?O� NBJ@eD?FJH� ?oDELFJC� @eDmFB?TmSEJD\�N?� TJ@?FJH�N?FDELCDIOJH�oeCOGBLH'�0BGoL�|�oeR?NGBGoeEJ�DeF?Be�TJ@e'

���

1KC?Q?�KC\�CL�m�OeB+fBJ�DE'�FmDE'�bLS?FJS�m�FmDE'��BLCLELNBJCGDRJ� N?�Ee� mT� TF+\TO?F?�� RmCm�'� =m|� TLNJDOL@Jj��EL~GEL@J��oeF�?KJC�NLOGEp�LKBGD?FLCJS�CL�@?f�m@+\'�<�CI?@e*�N+\EI�T�JEOmF�DN?@JCmF�1DEB?FGBHL�m�TLNJDOL�K?�@GCG�ELO?Q?T@mDEeg� �_Be|G�0GE\C?�� <?DGCJ�@JCeR?Q?� B?Oe� <J� CL@?FJRJ@GCG� DNJDLEJ� DN?@JCJ� NB?� @?U� eWLDEI� e� o?B?EIom� 528'2?DJRLU� <L@� N+\EI� T�JEOmF'� 2B?WJELSEGp� FJNBLFEGp� o?� <JTCLfEGp� \OL� F�@GCG�?DFmELp� m� NGBGKLSEG�O?@LCKJB?Fm'� 7eO?NJDKG}?�TL@LTLCJSp�o?�NmK�WLD�?oRLF� m� LR\B@mF�\�oeF�T@e�GCJSTLO?NeFLEJ�@?��DN?@JCJ�F�TG@RUp�}?o�F?CJ�CG�N?NLRJ�K?�BeOF?B?QLp�O?RJ�o�\�TLQJCeF'��JB?�FmELUp�1DEB?FGBH�'

`� N?WLRL� Q?BELEJ� DE?BmCOe� TL� DE?BmCO?U'� 4N?@JCJ1DEB?FGBHL�FJKLRJD\�@GCm�MmOLFJ@J�m�FLBEmDCJ@Jp�\O}?�S�R?D\NB?� K?Oe@GCELRICJS� T@mDE'� 8RG� �H� ?~?B@RGCC\� @LR?� omRI�G

.qq

HLBLOEGB�KJDN?TJMm��KR\�DN?@JCmFg�oBLO�K?ORLKCJH�?NJDmF�o?�FpE?WCJH� KLEp� HLBLOEGBJDEJO� N??KJC?OJH� ?Dmop� ?D?oJDEJHNGBG|JFLCI�m�DN?DEGBG|GCI�LFE?BL'

=GCm� CmW?Q?� CG� TLRJ�LR?D\p� \O� NmEJ� K?� 1DEB?FGBHL� mNGBGO?CLEJ� S?Q?p� }?o� NGBGB?oJF� Mm� DN?@JCJp� N?�JBJF� mK?N?FCJF� ?D?oJDEJ@J� FBL|GCC\@J� EL� ?MmCOL@J'�1DEB?FGBH@LF�CL�@?��NGBGO?CeFLCC\�O?B?EOe�FmKN?FmKIg��`�F?RmU�NJDLEJToB?fU� C?FG� DeWLDCG� EL� NBJSKG�Cfp� Cm|� ?RmFMG@�*� DELBG@JCeRG'� :L� MG� F� @GCG� CG@Lf� EGBNmCC\�'� `� TB?Te@mRL� S?Q?FmKN?FmKIp�o?�NJDLEJ�S?@ep�}?�@LF�eDI?Q?�N+\EI�OR\D�N?WLEO?F?��O?RJp�oeR?�CLKE?�FL|O?p�H?W�?KC?WLDC?�FmC�e@mF�CLKTFJWLSC?|JF?p�QLBC?p�MmOLF?�?N?FmKLEJp�@LRUFLEJ�OLBEJCJ�o?�Fp�KLFLEJFReWCm� HLBLOEGBJDEJOJ�N??KJC?OJH�?Dmo� m�@LF�FRLDCm� F?\MIOmCGTLRG|Cm�N?QR\KJ�CL�BmTCmp�CLFmEI�CGF?\MIOmp�DNBLFJ'�<�@GCG|� TC?Fe� F� CLDRmK?O� CLFLRe� NBLMm� CG� oeR?� WLDep�}?o� DL@mS?NBLMUFLEJ�Mm�DN?@JCJ'

���

_R\�CL�?Q?�TJ@?F?Q?�oeCOGBep�KG�NGBGoeFLR?�O?@LCKeFLCjC\�FmKEJCOe�NmK�NB?F?K?@�ABmCLp�FJNLF�Ke|G�NBJOBJS�KGCI'..� oGBGTC\� qkZw� -'� @J� @eDmRJ� TLRJ�JEJ� CL�� oeCOGBp� }?oB\EeFLEJ�DGoG�NGBGK�CGDN?KmFLCJ@�CLDO?O?@�F?B?QL'�<D\�NBLM\oeRL�NGBGBFLCL'�=LS|G�NmFE?BL�@mD\M\�DJKmRJ�@J�F�DCmQLH�oGTF?QCU�m�HLBWmF'�:GEGBNR\WG�WGOLRJ�FGDCJ'�8RG�CG@Lf�CG}LDE\oGT�}LDRJFJH�FJNLKOmFg�qY�OFmEC\�CL�@mDMG�CL�?Q?�B?TEL�eFLCjC\� F� RmDm� omR\� DGRL� 0'� NBJoeRJ� W?E'� 1DEB?FGBHp� DE'� FmDEeCJ1BGR�m�aFLBCJSp�FmDEeCJ��eOLp�=LO�m�/eQ?FJS'

:LBG�Em�FGDCLg�D?CMG�CG�EmRIOJ�DFmEJEIp�LRG�S�QBmf�ELOp�}?@?|CL� F|G� NBLMUFLEJ� CL� FmRIC?@e� N?FmEBm'� 0BGoL� oeR?TLOmCWJEJ� NGBGBFLCe� NBLMUp� NJDLEJ� TFmEJp� B?TDJRLEJ� N?�Ee'2BLMUFLEJ�K?F?KJR?D\�T�BLCOe�K?�FGW?BL'

2BJ�FGWmBCmS�N?FDELCDIOmS�FLEBm�1DEB?FGBH�?N?FmKLf�NB?DF?f�@JCeRGp� L� \� DJK|e� TL� KBeOLBDIO?U�@L�JCO?U�S�NJ�e'0LO�@J�NBLMUFLRJ�CLK�DN?@JCL@J�1DEB?FGBHL�F�EBLFCm�S�WGBFCm'�G�?NBLMUFLCC\�KLR?�k[�DE?BmC?O�QeDE?Q?�@L�JC?F?Q?�KBeOe'

XmR\� FLEBJjF?QCJ}L� ToJBLRJD\� DEBmRIMm� S� T� FGRJOJ@TLMmOLFRGCC\@� DReHLRJ�1DEB?FGBH?Fm� B?TN?FmKm'� >� ELO� @LS|G}?KGCC?�K?�NmTCI?��C?Wm'�8�W?E'�1DEB?FGBH�?N?FmKLF�|FLF?p�mTTLNLR?@p�ToLQLWeFLF�DF?f�?N?FmKLCC\�L~?BJT@L@Jp�LRGQ?Bm\@Jp

.q.

NGBGNRmELF��H�FRLDCJ@J�m�CLB?KCJ@J�|LBEL@J�EL�D@mH?FJCOL@J'<DG� EG� DNBLFR\R?� CL� DReHLWmF� FGRJOG� FBL|GCC\p� o?� O?|CJSEG|�NGBG|JFLF�eDGp�}?�?N?FmKLF�FmKFL|CJS�W?E?FJS�528'�`TLNJDLRLp�m�E?�oGT�T@mC�EL�N?NBLF?Op�S�NmDCmp�\Om�DNmFLF�1DEB?FGBH'1N?FmKLW� oeF� @LSDEB?@� e� CLDRmKeFLCCm� Q?R?De� EL� BeHmF� EJH?Dmop� NB?� \OJH� ?N?FmKLF� m� T� \OJ@J� TeDEBmFD\� CL� DF?f@eN?FDELCDIO?jF?\MIO?@e��R\He'�A?W�FmC�@LF� EmRIOJ�N?WLEO?Fe?DFmEep�LRG�?N?FmKLF�Ke|G�mCEGRm�GCEC?p�K?DFmKWGC?p�L�|JEEI?FJSK?DFmKp�T?OBG@L�o?S?FJSp�e�CI?Q?�oeF�DNBLFKm�FGRJOJS'

8RG�WJ�FDG�?N?FmF�@GCm�W?E'�1DEB?FGBH��`�TLeFL|JRLp�}?�FDF?�H� ?N?FmK\H� FmC� CG� BLT� NB?NeDOLF� KG\Om� FL|RJFm� GNmT?KJ'7?oJF� MGp� @LoeEIp� T� ?QR\Ke� CL� @?U� NBJDeECmDEI'� PLEG� FKGCIpO?RJ�\�NBLMUFLRL�CLK�TFmEL@Jp�F�?N?FmKLCC\H�NGBGK�F?\OL@JN?FGBELFD\�K?�MJH�GNmT?KmF'�0?Km�\�FKLFLRLp�}?�KLRm�NBLMUUp�LEJ@� WLD?@� NJRIC?� TLNJDeFLRL� S?Q?� B?TN?FmKI'� _GO?RJ1DEB?FGBHp�?KCLOp�CGDN?KmFLCC?�NGBGBJFLF�ELOG�DF?f�?N?FmKLCC\pm�E?Km�\�@eDJRL�CL@?FR\EJ�OjBL�ABmCL�Lo?�DE'�FmDEeCmF�7JoLROeEL�1BRLp�}?o� NB?DJRJ�1DEB?FGBHL� NB?K?F|eFLEJ� ?N?FmKI� ELDELFJRJ�NJELCC\p�\Om�\�N?ELSOJ��@�NB?N?CeFLRL'

d?E?FJS�1DEB?FGBH�oeF�FK?F?RGCJS�EJ@p�}?�\�TLNJDeU�S?Q?DN?@JCJ'� <mC� OLTLFg� �`� oL|LUp�}?o� MG� oeR?� TLNJDLCG� KR\@LSoeECmH�N?O?RmCI'�ALS�F?CJ�TCLUEIp�\O�@J�o?B?RJD\�TL�5OBL�Ce�'

:G�BLT�@J�KJDOeEeFLRJ�CL�BmTCm�EG@Jg�N?RmEJWCmp�DeDNmRICmpFmSDIO?Fm'� 1DEB?FGBH�*� TCL@GCJEJS� �NB?NL�LCKJDE�'� <mC� TTLNLR?@�oBLFD\�FJORLKLEJp�NGBGO?CeFLEJ�S�K?F?KJEJ'�8�O?RJ?N?FmKLR?D\�}?DI� FGDGRGp� FK?F?RGCJSp� FmKOBJFLF� DF?f�}JBGF?\MIOG�DGBMGp�TQLKeFLF�MmOLFm�NBJQ?KJ�Tm�DF?Q?�|JEE\p�L�DEBmRIMmp\O�TFJWLSC?�F?\OJp�FmKH?NRUUEI�CG�?KCe�MmOLFe�DNBLFep�HLNLUEI���TL�CJEOep�FJE\QLUEI�CLFGBHp�m�E?Km�e�CLD�N?FC?�eEmHJ�S�D@mHe'<DG�MG�NGBGBJFLf�O?@LCKJBp�}?o�eDELC?FJEJ�EJ�eg��5FL|LSEGpo?�RmD�@Lf�FeHL�S�?Wm�'

:LSNBJf@Cm�J@J�oeRJ�KR\�@GCG�HFJRJCJp�O?RJ�1DEB?FGBHNGBGN?FmKLF� DFmS� o?S?FJS� NLBEJTLCDIOJS� K?DFmK'� V?Q?NBLOEJWCJS�K?DFmKp�CLoeEJS�TL�W?EJBJ�B?OJ�DRe|oJ�S�o?B?EIoJF�RLFLH�528p�K?N?@mQ�S?@e�TK?oeEJ�WJ@LRm�FmSDIO?Fm�EG?BGEJWCmTCLCC\'� <� B?OJ� BGF?RUMmSC?jNmKNmRIC?�� o?B?EIoJ� B?TOFmELF� moRJDOeWG�B?TQ?BCeFD\�FmSDIO?FJS�ELRLCE�W?E?F?Q?�1DEB?FGBHL'�m� Q?KJCJ� KR\� @GCG� oeRJ� Ke|G� MmOLFm� S� @JRmp� o?� Q?F?BJFK?DFmKWGCJSp�FmKFL|CJSp�@e|CmS�NmKDELB�JCL�528p�N?Re@+\CJS

.q�

~LCLEJOp�BGF?RUMm?CGBp�}?�F@mF�FJH?FeFLEJp�QeBEeFLEJ�m�ORJOLEJK?�o?U�DEBmRIMmFp�F?KC?WLD�FJH?FeFLEJ�m�NBJHJRIC?�CLDELFR\EJS�ORJOLEJ�K?�CL�?��o?B?EIoJ�eOBL�CDIOG�CLDGRGCC\'

<mC�oGT@G|C?�N?RUoJF�FmSDIO?p�TLH?NRUFLFD\�FmSDIO?F?UDNBLF?Up� F?CL� DELRL� S?Q?�|JEEfFJ@� N?ORJOLCC\@'� XeF� KFmWmBLCGCJS�F�o?\H�*�F�?oJKFm�BeOJ'�A?W�CG�@LF�DJRp�LRG�T�TLNLR?@m�NBJDEBLDEU�@?R?K?DEJ�H?EmF�F?UFLEJ�KLRm'

:G�BLT�T�FK?F?RGCC\@�NmKOBGDRUFLFp�}?�BLCGCJS�F�?oJKFmBeOJp� \O� m� S?Q?� O?@LCKJB'� 4F?Q?� O?@LCKJBL� FmC� RUoJFp� \OoLEIOL�m�KBeQL'�<�WLD�CGoGTNGOJ�Q?E?FJS�oeF�QBeKI@J�TLDR?CJEJS?Q?�NGBGK�F?B?|J@J�OeR\@J'

PJ@?U� CG� BLT� \� WJELRL� FmSDIO?Fe� RmEGBLEeBep� LRG� F?CL@GCm� FJKLFLRLDI� \O?UDI� DeH?U'� <L|O?� oeR?�}?DI� TLDF?�EJ'8RG�EGNGB�|Gp�NmK�FNRJF?@�?N?FmKGS�1DEB?FGBHLp�\�oLWJRL�eDUOBLDe�F?\MIO?Q?�|JEE\�EL�oRJDO�CL�JH�QGB?�WCJH�o?�F'�:G�BLT�O?KeUp�W?@e�K?R\�DeKJRL�@GCm�oeEJ�KmFWJC?U'

4EBmRGMEF?� RUoJR?� 1DEB?FGBHL'� 5Dm� S?Q?� TCLRJ� \OoGTDEBL�C?Q?p�FmKFL|C?Q?�m�K?oB?Q?�O?@LCKJBL�EL�}JB?Q?�KBeQL'=m|� CJ@J� \O� KLFCm�Gp� ELO� m� EGNGB� H?KJRJ� RGQGCKJ� NB?�NLNLKI?�Oe��1DEB?FGBHL'�>�DNBLFKmp�NB?�MGS�LFE?@LE�*�22_@?|CL�oLQLE?�?N?FmKLEJ'�<mC�TK?oeF�S?Q?�FmK�o?RI�GFJOmF'�XJFD\CJ@�F�N?CLK�D?ECm�o?�Fp�TB?DJF�KFmWm�DF?fU�OB?F+U�m�N?E?@p�FoLQLEI?H� KF?o?\H� FJS�?F� NGBG@?|MG@p� }?KGCC?� WJDEJFp?QR\KLF'�XeFLR?p�N?FmDJF�J�WJDEGCIOe��NLNLKI?�Oe��CL�\RJMUpNBJQR\KLFD\� T� TLK?F?RGCC\@� K?� CG�� S� OLTLFg� �1E� N?KJFmEID\p\OL�QLBCL�S�WJDEL�'

8�O?RJ�qkZn�-'�F�WLD�GFLOeLMm��PLOGBT?CC\�CGDNBLFGKRJF?B?TF+\TLRLDI�DNBLFL��NLNLKI?�OJ�p�FmC�Q?E?FJS�oeF�mEJ�T�o?f@N?�CG�g��=?\�NLNLKI?�OL�NmK�T?Ce�CG�NmKG�'�PmoBLF�DEBmRIMmF�m�T?KCmfU�W?E?U�qw�DGBNC\�qkZn�B?Oe�NGBGS�?F�WGBGT�o?RI�GFJMIjOJS�O?BK?C�F�5OBL�Ce'

P� ?N?FmKLCI� W?E'� 1DEB?FGBHL� TmoBLR?D\� TC?Fe� OmRIOLT?�JEmF'�PLRJ�LR?D\�EmRIOJ�TCLSEJ�FmRICJS�WLDp�?NBLMUFLEJ�mNGBGNJDLEJ� CL�@L�JCm'��J@� \� oL|LRL� NBJDRe|JEJD\� DF?f@eo?S?F?@e�E?FLBJ�GFmp�K?B?Q?@e�RG@O?Fm'

<mRICJS�WLD�TCLS�?FD\�}?SC?�NmDR\�EBLQmWC?Q?�o?Up�NB?}?�B?TOL|e�NmTCm�G'

`O?DI�NmK�OmCGMI�WGBFC\�NmK�DELBJ@�FGRJWLFJ@�oeO?@�DJKmFTLKe@LCJS�W?E'�1DEB?FGBH'�`�NmKmS�RL�K?�CI?Q?g

.qZ

*�d?Q?�TL|eBJFD\p�O?TLWG��*�0L�WJ�CG@L�W?Q?��*�FmKN?FmFm�N?WLF�B?TOLTeFLEJg

*�1DI�N?Ke@LSEG'��?OmRIOL�KCmF�Wef@?p�\O�NB?OR\EL�o?D?ELNBJF?TJEI� K?� BLS?Ce� CL�JH� eoJEJH'�1D@mRmF� F?B?Qp� H?KJEI@LRJ@J� QBeNL@J� N?� Yjq�� W?R?FmO'� 4@mR?� TLH?KJEI� e� RmDJp� LTeDEBmF�J� N?FDELCMmFp� CG� EmRIOJ� CLDOLOefp� LRG� S� NGBGDRmKef'0?@e� NGBGDRmKefp�}?� CL�m� F|G� TLoeFLUEI� NB?� EGp�}?� EBGoLKLEJ� DNGB�e� N?� F?B?Q?Fm� F?Q?CIp� L� N?Em@� FmKDEeNLEJ'� <?B?QCLFWJFD\p�}?�N?FDELCMm�EmRIOJ�FmKDEeNLUEIp�m�E?@e�D@mRJF?�RmTGEL�NGBGDRmKef'�2BJ�E?@e�TLF|KJ�T�CL�?Q?�o?Oe�f�FEBLEJ'�<EBLEJEm�NBJQC?oRUUEI�CLDGRGCC\'�<?C?�CJ@J�o?Rmf�m�FNLKLf�F�B?TNLW'4L@?��NB?NL�LCKJ�F�RJDEmFOLH�@LR?'�:L�?@e�DGR\CJC?Fm�EBGoLKLEJ� WLD� FmK� WLDe� N?oLWJEJ� F?B?|m� EBeNJ'� 5� CLD� BLT?@� TNB?NL�LCK?U�@eD\EI� mEJ�o?S?Fm� Km�'�:L�m� QBeNJ�528p�\Om� EeEKmUEIp�CG�FDm�LOEJFCm'�1DI�FmTI@mEIg�W?E'�X'�CG�TB?oJF�}G�CmW?Q?'8� TL� EJ@Jp� O?EBm� }?DI� B?oR\EIp� QLC\UEID\'� `� @LF� oJ� ELOeFGRJOe�?H?Ee�NmEJ�N?F?UFLEJ'�2B?DJEJ@e�O?@LCKJBLp�}?o�@GCGTFmRICJF� \OJSDI� WLD� CL� FmSCep� L� FJ� oeKIEG� ELOm� K?oBm� SNmKEBJ@LSEG�@?U�DNBLFe'

:LK�MmfU�DNBLF?U�@J�K?FQ?�KJDOeEeFLRJ�m�BLKJRJD\':GDN?KmFLC?�.w�WGBFC\�@Bm��W?E'�1DEB?FGBHL�TKmSDCJRJD\'

V?Q?�N?ORJOLF�O?@LCKJB�m�K?BeWJF�NGBGoBLEJ�NmKFmKKmR�[q��ELCGQLSC?� TB?oJEJ� OmRIOL� TLDmK?O� CL� o?RI�GFJOmF� m� TCJ}JEJoLCKJEDIOG�QCmTK?�F�DGRm�>DL�'

2?FCJS�BLK?DEJp�?H?EJ�S�N?BJFep�FmKmS�?F�W?E'�1DEB?FGBH'5FGDI�CL��O?RGOEJF��O?KeFLF�TL�CJ@'

k� RJNC\�@J� FDm� Be�JRJ� F� KLRGOe� K?B?Qe�=LSKLCDIOJ@JRmDL@J�K?�D?ECm�OjBL�bBeTJCL�F�0eH?RI}JCe'''

n�DGBNC\�@J�TC?Fe�DE?\RJ�CL�OBLU�RmDL�0?�mF�O?R?�DGRL0eB+f� m� WGOLRJp� O?RJ� ?� .�jmS� Q?K'� W?E?FJS�1DEB?FGBH� N?WCGCLDEeN�CL�oLCKJEmF�e�DGRm�>DL�'�0?WC?�FJTCLWGCL�Q?KJCL'�2GB�mTLQBLRJ�CL�m�OeRG@GEJ'�2BLMUf�DRLFCJS�OeRG@GECJO�DELB�JSFmDEeC�_eH'� PLR?N?ELF� oLBLoLCCJS� F?Q?CIp� L� N?Em@� NmKC\RLDITLQBLFL'� b?BmRJ� HLEJ� �DEBJoOmF�� m� o?RI�GFJMIOG� OmC?'� <� DGRm0eB+f� CLDGRGCC\� N?QLDJR?� DFmER?� F� HLELHp� N?FJH?KJR?� CLN?KFmB+\'�/UKJ�@?RJRJD\�m�NB?DJRJ�X?QLp�}?o�K?N?@mQ�}LDRJF?poGT�|GBEF� TLOmCWJEJ� omS'��G� TL� HFJRJCe� WeEJ� B?TNLWRJFe� SoGTRLKCe�F?B?|e�?o?B?Cep�L�KLRm�FDG�EJHCG'

d?E'�1DEB?FGBH�eN?BLFD\�TCL@GCJE?'�7?ToJF�KFm�DNGMo?�FOJ

.q[

�DEBJoOmF�p� eoJF� Dm@?H� oLCKJEmFp� KF?H� N?BLCJFp� DNLRJF� OmC?pTK?oeF�ToB?U�EL�L@eCmMmU�m�TCJO'

<� K?KLE?O� K?� MI?Q?p� e� CLD� f� N?FmK?@RGCC\p� }?W?E'� 1DEB?FGBH� FmKTCLWJFD\� F� o?U� T� D?ECGU� o?RI�GFJOmFZ�DGBNC\�qkZw�-'�F�RmDm��XLQC?�p�omR\�DGRL�4EBmRIoJWm'�<�MI?@e�o?UFoJE?�.[�o?RI�GFJOmF'�d?E'�1DEB?FGBH�?KCJ@�B?f@�|GCG�FNGBEJ@CLDEeN?@�?ELBe�o?RI�GFJOmF�eCJT�N?E?O?@�L|�K?�4EBmRIoJW'

.Z�DGBNC\�FmC�TB?oJF�TLDmKOe�CL�o?RI�GFJOmF�F�K?Rm�CI?@eOmCMm�DGRL�0eB+fp�KG�FoJF�KF?H�CL�TCJOmFp�L�W?EJBI?H�N?BLCJF'

_mTCLUD\p�}?�DEBmRGMEF?�NBJSC\R?�S?Q?�T�TLH?NRGCC\@'�0J@WLD?@�F?B?Q�CG�DNJEI'�8�GCEeBL�T?FCm�C\�m�FCeEBm�C\�NBLMUf�CLN?FCe� DJRe'�_mS�RL� K?�CLD� De@CL� FmDEOLg� qq� DGBNC\�O?R?� DGRL/LDEmFOJ� F� CLDRmK?O� Km\RIC?DEJ� FCeEBm�CI?�� L�GCEeBJ� TQJCeF@LS|G�eFGDI�NmKFmKKmR�[qZ�*�qZ�DEBmRIMmF�T�W?E'�DR'�N'�=?QJR?U'

2B?� EGp� }?� DO?B?� @Lf� oeEJ� KG@?omRmTLMm\� QBeN� 528pW?E'�1DEB?FGBH� CmW?Q?� CG� TCLfp� L� O?RJ� K?FmKLfEID\p� E?� oeKGDe@eFLEJ�m�Ee|JEJ�TL�FmSDIO?@'

PFJWLSC?�e�CL�mS�mDE?Bm��TQLKeUEID\�EmRIOJ�DFmERm�N?DELEmS�m@GCL�N?RO?F?KMmF'�0G�DL@G�TCLH?KJ@?�F�?NJDLH�BmTCJH�oJEFm�NGBG@?Q'�8RG�NB?�DmBJH�F?\OmFp�L�NGBGKeDm@�NmKDELB�JCp�B?S?FJHWJ�W?E?FJHp�@LS|G�CG�TQLKefEID\'�8�FDG�|�ELOJ�TLFK\OJ��HCI?@eQGB?SDEFe� m� TKmoC?DE\@p� �HCI?@e�O?@LCKeFLCCU�F�o?U�FmWjCLjFmW�T�F?B?Q?@�TK?oeFLR?D\�NGBG@?Qe�m�DRLFe'�ALS�|G�m�DN?@JCJNB?� W?E'� 1DEB?FGBHL� oeKeEI� mDE?BmfU� ?KC?Q?� DRLFC?Q?NmKDELB�JCJ�528p�}?�DNBJWJCJFD\�K?�oLQLEI?H�NGBG@?|CJHo?�F'�4L@G�E?@e�\�S�N?WJCLU�NGBGNJDeFLEJ�S?Q?�DN?@JCJ'

:GFK?FTm� NBJS�?F� CGTLoeECmS� KR\� @GCG� KGCI� qw� DGBNC\qkZw� B?Oe'� <�:GKmRIC\CDIO?@e� RmDm� TLOFLBEJBeFLRL� W?EL� OjBL1DEB?FGBHLp�L�K?�CJH�K?ReWJRJD\�@J�m�N?B'�6LB@GRUO'�1o�qqjmS�Q?KJCm�KFm�D?ECm�DELRmCDIOJH�oLCKJEmF�mT�DELB�JCDIO?���O?RJ=<_�T�CLFLRICJ@�F?QCG@�CLDO?WJRJ�CL�CLD'�2?WLFD\�DEBL�CJSomS'�>�F�MI?@e�o?U�\�WeRL�QBm@OG�O?@LCKeFLCC\�W?E'�1DEB?FGBHL':L�EG�OBJR?p�KG�\�NGBGoeFLRLp�F?B?Q�N?FGBCeF�CLSDJRICm�JSF?Q?CI'� `� oeRL� DFmKO?@�|LHRJFJH� OLBEJC'� <mK� F?B?|JH� OeRIQ?BmRL� EBLFLp� RL@LR?DI� QmRR\p� NBJDOLR?� OL@mCC\p� oeR?� N?FC?KJ@e�m�OB?Fm'�XmS�OJNmFp�L�W?E?FJS�1DEB?FGBH�eDG�O?@LCKeFLF'''�AR?NMmp�F?Q?CI��<mKE\|eSEG�NBLFG�OBJR?��4@mR?�FNGBGK���<?B?QN?FGBCeF�EeKJ�DFmS�F?Q?CIp� m�W?E'�1DEB?FGBH�oeF�BLCGCJSp�ELMG�S?@e�CG�NGBG�O?KJR?'�4NRI?FeFLF�OB?F�m�O?@LCKeFLF�KLRm'

.qY

XmR\�@GCG�N?jO?TLMIOJ�F@GB�DE'�FmDE'�1BGR'�/G|LF�RJMG@�K?TG@Rmp�CLWG�DNLF'�2?omWp�DOeRGCJS�CL�CLNRmWCJOe�T�N?�E?Up�F|GCLFmOJ�TL@?FO�FmDE'�/eQ?FJS'�XmR\�NLOGEmF�CLFTCLOp�T�B?TOJCGCJ@JBeOL@J�RG|LF�FmDE'�5|p�L�KLRmp�omR\�OeRG@GELp�*�FmDE'�X?QKLC'

8�omS�eDG�OJNmF�EL�DOL|GCmF'�<?B?Q�e|G�CL@�CLK�Q?R?FL@Jp\� N?omQRL� N?FmK?@JEJ� O?@LCKJBLp� }?o� FmKDEeNLFp� o?� S?Q?TCJ}LEI'�2?� K?B?Tm� N?oLWJRL� DRLFC?Q?� N?B'�6LB@GRUOLp�}?pFL|O?� BLCGCJSp� DJKmF� NmK� \RJMGUg� ?oFJDRm� BeOJp� NGBGHJRGCLQ?R?FL'�̀ �WeRLp�\O�FmC�NB?DJF�N?B'�ABmCLg��4ELBJSp�K?oJS�@GCG'''�_?� @GCG� T� OBJO?@g� �_fFe�OLp� KfFe�OL��� *� OJCeRJD\o?RI�GFJOJ'�<mKoJFLUWJDIp�@J�T�EBeK?@�FmKDEeNJRJp�L�CL�N?Rmo?U�WeEJ�oeR?�FJoeHJ��BLCLE�m�?DELCCm�O?@LCKJ�1DEB?FGBHL'

<�o?U�oeF�N?BLCGCJS�DRLFCJS�OeRG@GECJO�DE'�FmDE'�_eHp�LW?E'�1DEB?FGBHp�H?W�DL@�N?BLCGCJSp�oGBG�DF?Q?�BLCGC?Q?�F?\OLm�KBeQL�CL�NRGWm�S�T�CJ@�FmKDEeNLf'�<?B?|L�WGBQL�T�OeRG@GELFoJFLf�CL�NRGWLH�W?E?F?Q?�OeRG@GECJOL�_eHLp�L�1DEB?FGBH?FmF?B?|m� OeRm� NB?oJFLUEI� QBeKJ'� <L|O?� BLCGCJSp� F?DELCCfNB?}LfEID\�W?E'�1DEB?FGBH�mT�DF?�@J�DEBmRIM\@Jg��2B?}LSEGpKBeTm��XJSEG�F?B?QL�KLRmp�L�\�FmKH?K|e'�<NGBGK��PL�5OBL�Ce�''bGSp�@?\��NLNLKI?�O?�p�NB?}LS��2B?}LSp�5OBL�C?���2?Em@�KLFD?om� WGBQe� T� DF?f�� eRUoRGC?�� �NLNLKI?�OJ�p� NBJORLF�J� K?NmKo?BmKK\'

0LO� TLQJCeF� DRLFCJS� W?E?FJS�1DEB?FGBH'� 0LO� FmKmS�?FN?Re@+\CJS�BGF?RUMm?CGBp�QGB?S�oLQLEI?H�o?�Fp�K?oBJS�KBeQ�mo?S?FJS� E?FLBJ�'�V?Q?� ?DELCCfg� �AR?NMmp� F?Q?CI�� <NGBGK� TL5OBL�Ce��� Nm�R?� KLRGO?� CL�J@J� RmDL@Jp� e� XGDOJKp� N?� FDmS5OBL�Cmp� L� ELO?|� K?� S?Q?� eRUoRGC?�� ABG}LE?�� S� K?� BmKC?Q?TBeSC?FLC?Q?�DGRL�CL�BeoG|LH�5OBL�CJ'

�G� N?FDELCDIOGg� �AR?NMmp� FNGBGK�� PL� 5OBL�Ce���*�}GDI?Q?KCm�Q?@?CJEI�m�CmO?RJ�CG�TLEJHCG'

7LKmSp�5OBL�C?p�}?�@Lf��ELOJH�DRLFCJH�QGB?�F��AR?NMmp�F?Q?CI��<NGBGK�TL�5OBL�Ce��

�� ��%/�U&��� ���"UY�����&� �� �����/��1��� ���]^WL���&��XPU�

.qn

Y���]��lU�c�]���"�]$

Rm��i��

qZ�oGBGTC\�qkZZ�-'�@GCG�NGBGFGRJ�CL�DELCJMU�eOBL�CDIO?�N?RmMm��F�DGRm�/UE?FJDIOL'�0?Km�\�F|G�TCLFp�}?�ELOG�528�EL�\Om���MmRm'��G�oeKeWJ�e�<?Rm�=mH?FmSp�N?ELf@C?�?KGB|eFLF�NmKNmRICeRmEGBLEeBe�eOBL�CDIO?Q?�FJTF?RIC?Q?�BeHe'�/mEGBLEeBL�S�RL�TBeO�K?�BeOp�O?CDNmBLEJFC?p�}?o�CG�K?FmKLR?D\�NB?�MG��GDELN?EL�S?Q?�CLS@JEJp�}?�oeRJ�ELO?|�m�F�eOBL�CDIOmS�N?RmMm�'

`�F|G�KLRm�CG�@mQ�EGBNmEJ�DFLF?RU�S�CLDJRIDEFL�Cm@GMIOJHCL�TCJOmF'�>T�eDmH�DE?BmC�K?H?KJRJ�K?�CLD�FmDEm�NB?�@LD?Fm�LBG�EJCL�?��CLSDFmK?@m�?��@?R?Kmp�OLEeFLCC\����N?�EUB@LH�m�B?TDEBmRJF�4L@o?Bmp�/IF?Fmp�_B?Q?oJWmp�4ELCJDRLF?Fmp�d?BEO?Fmp�7mFC?@eEL�oLQLEI?H�mC�JH�@mDELH�5OBL�CJ'

_GD\EOL@J� EJD\W� e@JBLRJ� CL�m� HR?NMm� F� Cm@GMIOJHELo?BLHp� Emp�}?�CG�H?EmRJ�F?UFLEJ�F�RLFLH�dGBF?C?��LB@m�� TL@?DO?FDIO?jo?RI�GFJMIOJS� m@NGBm\RmT@p� TL� N?CGF?RGCC\5OBL�CJp� L� NGBGS�RJ� CL� Cm@GMIOJS� omO� T� Ke@O?U� mNGBGO?CLCC\@p�}?�oeKG�DL@?DEmSCL�eOBL�CDIOL�KGB|LFL�m�F?CJFDEeNR\EI�F�RLFJ�BmKC?Q?�FmSDIOL'

0JD\WL@J� QJCeRL� CL�L� @?R?KI� FmK� LRI\CEDIOJH� o?@op� FBe�CLH�To?@oLBK?FLCJH�Cm@GMIOJH�@mDEp�~LoBJO�m�TLF?KmF'�beR\RJN?�DGRLH�OLBCm��LBCmT?CJ��GDELNmFMmFp�GDGDmFp�QBLoeFLRJ�m�FoJFLRJeOBL�CDIOJH� DGR\C'� PL� FoJE?Q?� \O?Q?jCGoeKI�~BmML� mDCeFLRLTomBCL�FmKN?FmKLRICmDEI'

:m@GMIOJ@� oLCKJEL@p� oeKmFCJWJ@� �C?F?�� cFB?NJ�pK?N?@LQLRJ� BeSCeFLEJ� 5OBL�Ce� m� ~mTJWC?� FJCJ}eFLEJeOBL�CDIOJS�CLB?K�eD\Om�WGBF?Cm�S�omRm�N?RIDIOm�oLCKJp�o?�FOJp}?� FoJFLRJ� CL�JH� CLSOBL}JH� eWGCJHp� NB?~GD?BmFp� RmOLBmFpDF\}GCJOmFp� O?RJ�CmH� DELB�JC� eOBL�CDIO?�� LB@m�p� DFmK?@JHeOBL�CMmF�m�CLFmEI�FJBmTeFLRJ�MmRm�DGRL�CL�A?R@}JCmp�2mKR\��mS�2?D\CCm'

7LT?@� T� CJ@J�S�RJ� o?RI�GFJMIOm� NLBEJTLCJjO?FNLOmFMmp}?p�N?omW�FD\OJH�TFmBDEFp�eoJFDEFp�QBLoG|mFp��FLREeFLRJ�CL�JH|mC?Op� KmFWLE� EL� TLBL|LRJ� �H� FGCGBJWCJ@J� CGKeQL@J'� 0LOFJQR\KLRJ� �RUKJ� T� WJDE?U� D?FmDEU�p�}?�CGDRJ� eOBL�CDIO?@eCLB?K?Fm�EmRIOJ�D@GBEI'

X?RI�GFJMIO?jCm@GMIOJS�~B?CE�e|G�EBm}LF'

.qw

:L� <?RJCm� FmKKmRJ� 528� DELRJ� F� ?o?B?Cm� eOBL�CDIO?Q?CLDGRGCC\� NGBGK� Cm@GMIO?j�GDELNmFDIOJ@p� @?DO?FDIO?jo?RI�GFJMIOJ@�m�N?RIDIOJ@�EGB?B?@'

<�6LBNLELH�FmKKmRJ�528�e|G�EG|�QB?@JRJ�CL�TCJOL'�dLD�m@GCm�oeR?�N?OJCeEJ�B\KJ�K?N?@m|C?��N?RmMm�p�OeKJ�Nm�?F�\�CGT�?H?EJp�L�WGBGT�B\K�?oDELFJCp�B\EeUWJ�DGoG�NGBGK�Cm@GMIOJ@1DFfCMm@?@�TL�FEGWe�T�B?o?EJ�F�:m@GWWJCm'

.n�oGBGTC\�qkZZ�-'�\�TLS�?F�K?�?KCmf��|mCOJ�F�/UE?FJDIOLH'=J� N?WLRJ� B?T@?Fe� CL� EG@e� CL�?�� FJTF?RIC?jBGF?RUMmSC?�o?B?EIoJ'�<?CL�E?Km�@GCm�DOLTLRL�ELOm�DR?FLg��AR?NMm��<|G�WLDmEJ� o?B?EJD\� TL� eOBL�CDIOe� DL@?DEmSCe� KGB|LFep� L� @J� FL@oeKG@?�N?@LQLEJ�'�P����?WGS�N?RJRJD\�QLB\Wm�DRI?TJ'�`�FmKBLTeK?QLKLFD\p�}?�M\�|mCOL�CG�EmRIOJ�DFmK?@Lp� mKGSCLp�L�}?�F?CL@Lf� S� TF+\TOJ� T� eOBL�CDIOJ@J� N?FDELCM\@Jp� \Om� TLH?KJRJ� F/UE?FJDIOL�EL�DeDmKCm�DGRL'�PeDEBmW�m�B?T@?FL�T�MmfU�|mCO?UToeKJRL�F�@GCG�?DELE?WCe�N?DELC?Fe�FEmOLEJ�F�B\KJ�528'

.w� oGBGTC\� qkZZ� -'� CL� DELCJMU� eOBL�CDIO?�� N?RmMm�� F/UE?FJDIOLH�NBJ�HLF�CL�O?CEB?RI�BLS?C?FJS�O?@GCKLCE'�<C?Wm?�.ZjmS�Q?K'�TL�CLOLT?@�O?@GCKLCEL�DELCJMm�\�N?�HLF�T�BLS?C?FJ@O?@GCKLCE?@�\O�?H?B?CCJO'�:LKF?Bm�oeF�DJRICJS�@?B?Tp�T?BmDFmEJRJ�\DC?p�CL�L�NmKF?KL�N?FmRIC?�DeCeRL�N?QLC?U�QmBDIO?UK?B?Q?U'� <� K?B?Tm� @JCeRL� CLD� NmKF?KL� T� CGFmK?@J@JFmSDIO?FJ@J'��AE?��KG���*�TLNJELRJ�CLD'�2?WeF�J�FmKN?FmKIg�2?RmMm\�p�N?�HLRJ�KLRm'�`�TBLTe�K?QLKLFD\p�}?�MG�o?�FOL�528Lo?�15:'�<�RmDm��1DEBG��BLSO?@GCKLCE�TLDFmEJF�R\@NO?Up�MGFJQR\KLR?p� CLWGo� \OJSDI� e@?FCJS� TCLO'� PL� HFJRJCe� DOLTLFp}?�@eDJ@?�FGBELEJD\�CL�DELCJMUp�o?�FmC�TLoeF�EGWOe�T�QBm�@J'`�K?QLKLFD\'�0eE�CG�EGWOLp� L�CLNGFC?�TeDEBmW� T�N?FDELCM\@J'�G�BLKeFLR?�@GCG'

1� �jmS� Q?KJCm� @J� @LRJ� FmK+�|K|LEJ'� `� RmQ� DNLEJ� omR\EGRG~?CL'�4CJEID\�@GCm�KJFCJS�D?Cg�NBJH?KJEI�K?�@GCG�W?BET�FJRL@J�m�OL|Gg��`O�EJ�EBJ@Lf��DRe|oe�''��`�NB?OJCeFD\'�:LKJ|eBMm�oRmK?�DFmEJF�OLQLCGMIp�QeKmF�EGRG~?Cp�CG�oeR?�CmO?Q?'`�TLDCeF�eKBeQG'�8�EeEp�CLWG�@LBLp�KBeQJS�D?C'�0?S�DL@JS�W?BET� FJRL@J�CLNLDEef�@GCG� TC?Fe'�6BJWLWJ� DNB?D?CC\p� \� FDELFpeT\F�OBmD�e�BeOJp�L|�EeE�CGBF?F?�TLKTF?CJF�EGRG~?C'�4ReHLU'�bLRI?�� 0eE� DeKK\� F�/UE?FJDIOLH'''� N?RmMm\��2?RmMm\�� 5�@GCGDI?Q?KCm�oeRJ�\OmDI�?ToB?fCm�RUKJp�N?KGBRJ�FDm�DeK?Fm�LOEJ�'�_?oBG'�=J�EL@�TLFEBL�oeKG@?�p�*�KLF�\�FmKN?FmKI�DeKKmp�}?o

.qk

DN?OmSC?�DNLF'�=?|Gp�\�oeKe�}G�F�CI?Q?p�LRG�F|G�CG�EJ@p�}?DI?Q?KCm'

_W����� �� n���

1��jmS� Q?KJCm�@J�N?�HLRJ� F�CLNB\@m� RmDe� �1DEBG�'� <mTCJOCL��N?OeBUFLF�oLOeC�EL�N?QLC\F�DF?�H�O?CGC\E'�<�E?@e�@mDMmpKG� O?@GCKLCE� DFmEJF� R\@NO?Up� K?�CLD� NmKomQR?� KF?f� W?R?FmOmFpOBJWLWJ� N?jN?RIDIOJg� �4EmS��AE?� MG�� <mKOJCeEJ� OBmDJ'� 7eOJFQ?Be���6?@GCKLCE�TR?FJF�@GCG�TL�BeOJp�}?o�\�WLD?@�CG�DEBmR\F'�AE?�EmRIOJ�N?Be�JEID\p�oeKG�TLDEBmRGCJS���`�m�O?@GCKLCE�oeRJNGBGO?CLCmp�}?� MG� CL�m� HR?NMm'� b?F?B\EI� N?jN?RIDIOJ� EmRIOJTLKR\� FmTCJOLp� O?EB?Q?� NmTCm�G� �GDELN?� oeKG� K?NJEeFLEJ'�:LDB?TToB?�RJ'� 7LNE?F?� eNLF� N?DEBmR� T� NmDE?R\p� m� OeR\� N?BLCJRLO?@GCKLCEL'� �PRmTLEJ� T� F?TLp� ?oGBCeEJD\� CLTLK��� `��GNCeFO?@GCKLCE?Fmp�}?� MG� CG� CL�m'� 0BGoL� oeKG� NB?NLKLEJ� T� BeON?RIDIO?��oLCKJ'''�2B?F?OLMm\'�6?@GCKLCE�FmKN?FmF�N?�GNOJg��`DRLoCe'''� deU�OeRU� F� D?om�'�1ToB?fCmp� NmK?TBmRm� CL@� W?R?FmOJF|G� DNJDLRJ� NB?E?O?R� T� FmTCJOLp� TLQB?TJRJp�}?o� CmW?Q?� CGQ?F?BJFp�m�CLQCLRJ'��?SC?�EGNGB�TLQ?F?BJRJ�N?jeOBL�CDIOJ'�0eEFJS�RL�DNBLFL�CLFGBH'�6?@GCKLCE�o?�FOJ�4X�FJDEBmRJF�CGH?E\WJ'6eR\�NB?oJRL�O?|eHp��JCGRUp��eKTJO�e�oRUTm�S�RGQO?�BLCJRLO?@GCKLCEL� F�|JFmE'�_BeQ�A@GRI� TLoBLF�CLD� K?� DGRL�/JN+\p� LN?Em@� K?�2R?DO?Q?p� KG� OFLBEJBeFLRL� o?�FOL'� 0eE�@J� TeDEBmRJLBG�E?FLC?Q?� o?�FO?U�N?RmML\j~?RIODK?SWGp� \OJS� K?C?DJF� K?�GDELN?�NB?�CL��BeH'�6LEUTm�oeKG�N?�TLDReTmp�N?Ke@LF�\�D?om'

Y�����%#

2?�EBI?H�KC\H�\� Tm� DF?�@�O?@GCKLCE?@�FDEeNJF�K?� D?ECm�XeRLFL�p�}?�CGU�O?@LCKeFLF�E?Km�OjB�2LFeO'�=GCG�NBJKmRGC?K?�NGB�?��W?EJp�NGB�?Q?�B?\�*�DEBmRIMG@'�=?�@�B?S?FJ@�oeFb?CE?FJWp�L�W?E?FJ@�*�OjB�1@GR\C'�:L�L�D?EC\�OFLBEJBeFLRLF�D'�2R?DOm@�L|�K?�<GRJO?KCmH�DF\E'

2mDR\� DF\E� D?ECU� N?KmRGC?� CL� KFmg� �4eB@L�� m� �XeRLFL�'4?EC\� �XeRLFL�p� NmK� O?@LCKeFLCC\@� 7GCLp� FmKmS�RL� F4L@omB}JCe'�6jB�7GC�*��=LRJS�p��7GC�j��GRGCJS��*�oeF�@?�@BLS?C?FJ@�O?@GCKLCE?@p�m�FRLDCG�T�CJ@�DELRLD\�EL�NBJQ?KL�FRmDm��1DEBG�'�XeF�@LRGCIOJS�CL�TBmDEp�@GEOJSp�FGDGRJSp�mKGSCJS'

..�

#��o���Wp

:GKLRGO?�FmK�DGRL�_eoR\CJ�oeR?�N?RIDIOG�DGR?�1RGOD\EL'��GTL�WLDmF�NLCeFLCC\�2?RI}m�EeEG�Cm��DE�GRIMJ�p�CL�W?Rm�T�ELOJ@D?om�aO?RmCDIOJ@p�CLNLKLRJ�CL�eOBL�CDIOm�DGRL'�>�EGNGB�Km\RL�EL@N?RIDIOL�DNGMo?�FOL�S�@LRJ�NBJEeR?O�o?RI�GFJMIOm�L�GCEJ'�=JKmDELRJ�TLFKLCC\�TCJ}JEJ�MU�o?�FOe'�=?f�TLFKLCC\�oeR?�K?DJEIEBeKCGp�LRG�\�FN?BLFD\�T�CJ@p�TL�}?�KmDELF�N?HFLRe�FmK�OjBL�7GCL'2mDR\�E?Q?�@J�Nm�RJ�CL�DGR?�<mRI�LCJOp�KG�ELO?|�TB?oJRJ�N?B\K?O'

aO?KL�@GCmp�}?�CG�NL@+\ELU�KLEp�LK|G�DN?@JCJ�Mm�NJ�e}?SC?�N?�W?EJBI?H�B?OLH�o?B?EIoJ�F�RLFLH�528'

PL�\OJSDI�WLD�D?ECU�NGBGoBLF�OjB�=JOJEL'�=GCG�NGBGFGRJK?�NB?o?fF?Q?�B?\p�\OJS�@LF�DNGMm\RICm�TLFKLCC\� m�TLFKLCC\p\Om�DE?DeFLRJD\�DNBLF�N?RIDIO?��|LCKLB@GBm�'�:L�J@�B?S?FJ@oeF�deNBJCLp�LRG�CGFK?FTm�FmC�FmKmS�?F�e�4EBJS}JCep�KG�@LFNGBGoBLEJ�D?ECU'�7?S?FJ@�RJ�JFD\�6?B?FJW'

<� DGRm� <?R\� XRL|mFDIOL� omR\� O?NLRICm� DE?\F� �LBCmT?C�W?BCJH�'� 0?� oeRJ� NGBGFL|C?� LTGBoLSK|LCMmp� eToGOJ� Lo?OLTLHJ'� <?CJ� QBLoeFLRJ� CL�JH� DGR\Cp� E?@e� OjB� =JOJELFJQ?E?FJF�NR\C�CLDO?Oe�CL�CJH�KR\�N?OLBLCC\'

:mW�E?Km�oeRL�Ke|G�O?B?EOL'�=mD\MI�DFmEJF�\DC?�*�K?oBGoeR?�B?TEL�eFLEJ�CL�m�DJRJp�LRG�FL|O?�NmKDeFLEJD\'�.ZjEL�Q?K'd?EL�OjBL�7GCL�KmDELRL�TLFKLCC\�NmKDeCeEJD\�\OCLSoRJ|WG�K?DELCJMm'� �d?BCm�� H?KJRJ� omR\� O?NLRICm� EL� DELCJMmp� CmW?Q?� CGNmK?TBUUWJ'�=J�NmKDeCeRJD\�F|G�CL�W?EJBJ�@GEBJp�CGEGBNR\WGWGOLUWJ� CLOLTe'� �AR?NMmp� F?Q?CI���*� O?@LCKef� W?E?FJSp� mTLOJNmF�omS'�`�?KGB|LF�CLOLT�NmKDeCeEJD\�NmK�DELCJMUp�?oRJEJ���CL~E?U�m�TLNLRJEJ'�:LOLT�e�WGDC?Q?�F?\OL�DF\EL�BmW'��?SC?EmRIOJ�\�N?WLF�NmKDeFLEJD\p�\O�@GCm�omR\�Q?R?FJ�FNLRL�B?TBJFCLOeR\'� 8QL�� PLNBJ@mEJRJ� @GCG'� 2?DeCeFD\� KBeQJS� BLTp� L� EeEF?B?Q�TjTL�B?Qe�DEBmR\f�K?�@GCG'�<mKDEeNJF�FKBeQG'�PL� EBGEm@BLT?@�NmKDeCeFD\�NmK�DL@e�FmO?CCJMUp�?oRJF�CL~E?Up�TLNLRJF':L~EL�DNLRLHCeRLp�LRG�DELCJM\�CG�Q?BJEI'�<Q?Bm�WeEJ�QeKmCC\\O?Q?DI� RmELOL'� PL� WGEFGBEJ@� BLT?@� \� FmKKGB� FmO?CCJMU� mN?oLWJFp�}?��W?BCJH��CG@L'�0?Km�KLF�TCLEJ�NB?�MG�E?FLBJ�L@'_?�@GCG�CL�K?N?@?Qe�NBJomQ�?KJC�BmSp�L�KFL�Nm�RJ�CL�TLDELFeK?�O?NLRICm'�4ELCJM\�F|G�NLRLRL'�<DGBGKJCm�Q?BmR?�GRGOEBJWCGDFmER?p� oGTCLDELCC?� KTF?CJF� EGRG~?C'�4OBmTI� RG|LR?� oLQLE?OBmDmFp�L@eCmMm�p�@eCKJBmFp�FTeEE\'

..q

6eRG@GECJO�=GDECJO�TLoBLF�FmK�eoJE?Q?��KGHE\B\�'�4EBmRIMmTR?FJRJ� FL|O?� BLCGC?Q?� Cm@M\p� }?� @LF� omR\� DGoG� NmDE?RI�NLBLoGRU@�'�V?Q?� NGBGKLRJ� CL�J@� DLCmELBL@'� XmR\� ?KC?Q?FoJE?Q?� F?B?|?Q?� DELB�JCJ� \� TCLS�?F� RJDEmFOe� FmK� 528p� F\OmS�oeR?�CLNJDLC?g��=Jp�eOBL�CDIOm�N?FDELCMmp�}?�o?BG@?D\TL�544_p�ORJWG@?�OLFOLTIOm�CLB?KJ�DNmRIC?�DELEJ�K?�o?B?EIoJNB?EJ�Cm@GMIOJH�TLQLBoCJOmF�'

6jB�=JOJEL�T�?H?B?C?U�m�OeRG@GE?@��@LODJ@?@��oeF�CLQ?BmpL�NmDR\�?NGBLMm��FmKmS�?F�K?�DGRL�=?CLDEJBGMIp�L�@J�TLoBLRJTK?oeEe�ToB?Up�L@eCmMmU�EL�FJB\K�m�FmKmS�RJ�F�DF?f@e�CLNB\@m'`�?KGB|LF�N?K\Oe�FmK�OjBL�=JOJEJ�TL�EGp�}?�FJO?CLF�TLFKLCC\'

:L� KBeQJS� KGCI� BLCGCJS� Cm@GMI� N?@GBp� L� �W?BCm�p� \OmN?FEmOLRJp�N?FmK?@JRJ�Cm@MmFp�}?�FC?Wm�o?RI�GFJMIOJS�RmELODOJCeF�NLBL�eEJDEmFp�m�Em�CLDO?WJRJ�CL��HCU�DELCJMU�S�B?ToJRJ��'�:L�O?NLRICU�NBJDRLRJ�Cm@Mm�F|G�mC�JS��LBCmT?C'

%��W��� iW��%#

5� DO?B?@e� WLDm� FmK� C?F?NBJoeR?Q?� �LBCmT?Ce� �W?BCJH�� T<?Rm� XRL|mFDIO?�� Nm�RL� DEG|L� T� DG@J� W?R?FmOp� ?KJC� OeRG@GE�E?OLB�� m� �mDEI� Cm@GMIOJH� OBmDmFp� }?o� TF+\TLEJD\� TeOBL�CDIOJ@J�N?FDELCM\@J'�PQLKLCL�DEG|L�DEBmRLD\�Tm�DEG|GUOjBL�XLSKJp�}?�OFLBEJBeFLF�T�QBeN?U�N?FDELCMmF�mT�45P�F�DGRm4NBJC\'�4EG|L�OjBL�XLSKJ�N?\DCJRLp�TL�}?�o?BGEID\�528p�m�EmTQ?KJRJD\�NGBGSEJ�CL�DE?B?Ce�eOBL�CDIOJH�N?FDELCMmFp��H�TLoBLFOjB�XLSKL�K?�DF?f��D?ECm'�6jB�XLSKL�oeF�DL@�T�2?RELF}JCJp�@LFe�E?S�WLD�omR\�DGoG�.[�CLKKCmNB\CMmF'�2?\FL��W?BCJH��FJORJOLRLFGRJOG�TLMmOLFRGCC\�m�FK?F?RGCC\�F�B\KLH�CL�JH�N?FDELCMmF'

U���������q���Wr��������W���

<�DGRm�4EBmROJ�DE?\F��LBCmT?C��W?BCJH�p�oRJTIO?����W?R?FmOp}?� OFLBEJBeFLRJ� F� @eB?FLCm@� oeKJCOe'� _?� CJH� @mDMGFJSEGBGC?FJS�NB?FmK�FJDJRLF�CL�m�RJDEmFOJ�m�NGBGDE?B?QJp�}?oJNGBGDELRJ� QBLoeFLEJ� eOBL�CDIOG� CLDGRGCC\'� 6?RJ� CL�mNGBGDE?B?QJ�CG�KLRJ�oL|LCJH�CLDRmKOmFp�OjB�=JOJEL�FJBm�JFB?ToJEJ�MGS� �LBCmT?C'�<mC�TF+\TLFD\�T�@mDMGF?U�eOBL�CDIO?UN?RmMmfUp�\OL�N?mC~?B@eFLRLp�}?��W?BCm��WLDE?�NBJH?K\EI�CLDELCJMU'�`O}?�N?FDELCMm�NR\CeUEI�CL�CJH�CLDO?Op�E?�F?CJ�F

...

Ee� CmW� CLN?\EI� �H� Q?BmRO?Up� m� B?o?EL� NmKG� RGQO?'� <�4EBmROLH@LRJ� @J� K?FmBGCe� RUKJCe�*� DGBGKCI?Q?� CL� TBmDE� W?R?FmOLpW?BC\F?Q?p� oRJTIO?� Z�� RmEp� NDGFK?� d?BCJS� <?B?C'�V?Q?� DJC2m@DEL�oeF�e�D?ECm��4eB@L�'

2R\C�DORLRJ�ELOJSg�W?EL�OjBL�1@GR\CL�@Lf�KLEJ�TLDELFeEL� TLoBLEJ� T� @RJCL� NLDJ� m� NBJKmRJ'� 2?Em@� TLSC\EJ� N?�EepDELCMmU�m�TLoBLEJ�F�RLFJ�528�@mDMGFe�N?RmMmU'�d?EL�OjBL�7GCL@LRL��HLEJ�CL�NmKF?KLH�Tm�DGRL�/e|OLp�NGBG�HLEJ�N?NBJ�oeKJC?O�W?BCJH�p�L�NB?o?fFJS�BmS�*�B?ToJEJ�DELCJMU'�<�E?S�WLD�@JOFLBEJBeFLRJ�F�/e|Oep�L�N?Em@�NGBGS�RJ�CL�HeEmB�6LEGBJCL'

P� HeE?BL� TLS�RJ� CL� Q?DEJCGMIp� CL� \O?@e� N?oLWJRJLFE?@L�JCe� T� om|GCM\@J'� PL� CLOLT?@� OjBL�='� @J� TLoBLRJ@L�JCe� T� �?~GB?@'� :LoRJ|LUWJDI� FC?Wm� K?� 4EBmR?OpTeDEBmRJ�CL�@?DEe�DEmSOep�H?W����EeE�CmO?RJ�BLCm�G�CG�oeR?'4EmSO?FJSp� TLNBJ@mEJF�J� ?ToB?fCJH� RUKGSp� N?omQ� CLDELCJMU� m� TLLR\B@eFLF� DF?�H'� <� E?S� DL@G� WLD� m�?F� N?�TK� T0eBOJ� F� CLNB\@m� 4ELB?Q?� 4L@o?BL'� 6?RJ� W?EL� OjBL� 7GCLN?WLRL� NmKDeFLEJD\� B?F?@� K?� DELCJMmp� F?B?Q� FmKOBJFOeRG@GECJS�F?Q?CI'�<�CLDEeN�Nm�?F�NB?o?fFJS�BmS'�XmS�oeFTLFT\EJS'� 0L� O?RJ� �W?BCm�� N?WLRJ� OJKLEJ� �BLCLEJp� @JFmKDEeNJRJp� @LUWJ� N?BLCGC?Q?� oeCW'� X?\CLp� }?� N?H?KJF� T4EBmR?O'�1KC?Q?�DEBmRIM\�oeR?�N?R?CGC?'

1NGBLMm\� CG� FKLRLD\'�=J� FmKDEeNJRJ�CL� HeEmB�6LEGBJCL':L�?Q?�DEBmRIM\��W?BCm��NGBGKLRJ�eOBL�CDIOmS�N?RmMm�p� T�\O?�FmC�CL�KBeQJS�KGCI�eEmO�K?�CLD'

7?TFmKOL�K?CGDRLp�}?�F�WLD�o?U�NmKDeCeFD\�MJFmRICJS�N?R\Op\OJS�BLCJF�oeCW'�X?\CL�EL�}G�KF?H�DEBmRIMmF'��d?BCm��|LKLRJFmK�Cm@MmF�F�4L@o?Bm�N?@?Wmp�LRG����CG�KmDELRJp�o?�D?EC\��4eB@L�DL@G� EL@� E?Km� ?NGBeFLRL'�AE?DI�N?FmK?@JF� �W?BCJH�p�}?�@LfoeEJ� CL� CJH� CLNLKp� E?@e� F?CJ� oeRJ� F� o?S?FJS� Q?E?FC?DEm'<?CJ�TLLBG�EeFLRJ��?~GBLp�eOBL�CM\p�}?�N?H?KJF�Tm�/IF?FL'

R� � ��r3sr������W�� �W���%U&���'��� �W��%# &���q��W���Wr� ������W��W�� �W��%`R�

P+�TK� NBGKDELFCJOmF� eOBL�CDIO?Q?� N?RmEJWC?Q?� DFmEeTF?Be�JF�CL�m� DGBM\�K?� QRJoJCJ'�=GCm� FJNLRL�WGDEI�oeEJ�F?H?B?Cm� T+�TKe'� /JNGCI� qkZZ� B?Oe'� :GKmRIC\CDIOm� RmDJ� DELRJDFmKO?@�FGRJWLF?��N?Km�'�:L�?H?B?Ce�T+�TKe�NBJTCLWGC?�D?ECmg

..�

�XeRLFL�p��4eB@L�p���CLMIOe�D?ECU�p�KFm�D?ECm��/IFmF��EL�B\Ko?�F?O�15:'

=?\� W?EL� @LRL� TLDELFe� FmK� DGRL�/e|OL'� `� T� K?FmBGCJ@JF?\OL@J�K?DELFR\F�HLBWm�CL�@mDMGp�KG�FmKoeFLFD\�TomB'

:L�m� NBGKDELFCJOJ� NBJ�TKJRJ� CL� DELCMmU� N?�TK?@pLFE?@L�JCL@Jp�NmKF?KL@Jp� L�CLFmEI�NBJoeFLRJ�Nm�OJ'�PF+\TO?FmEGBGC?F?�� DmEOJ� NGBGoJBLRJ� �Hp� KLFLRJ�CL� TF+\TO?Fe� RmCmUp�@JNGBGFmB\RJ� ORJWOJp� K?DELFR\RJ� �H� K?� OjBL�=JOJEJp� L� FmCpNGBGFmBJF�J�}G�BLTp�NGBGKLFLF�KLRm'�:LFO?R?�DE?\RJ�DEmSOJ�m�TLDELFJ'_?B?QJ�oeRJ�TL@mC?FLCm'�XmR\�RmDCJWmFOJ�DE?\RL�DEmSOLp�\OL�KLFLRLmC~?B@LMm�� C?F?NBJoeRJ@� EL� DNB\@?FeFLRL�CL�@mDMG�CLBLK'�<DmTLDELFJ� m� DEmSOJ� oeRJ� N?F+\TLCm� T� Q?R?FCJ@� OjB?@� FLBEJEGRG~?CCJ@J� RmCm\@J'�=m|�BmTCJ@J�O?@LCKJBL@J�\� oLWJF� EeEELO?|�N?B'�6LB@GRUOL'

1KC?Q?� KC\� N?ORJOLRJ� @GCGp� DEBmRIMmF� <?FWeBLp� 1BRLp1RGD\p�=GDECJOL� �F?CJ� N?H?KJRJ� mT� 4EBJS}JCJ�� EL� mC�JHp}?o�@J�Nm�RJ�TLDNmFLEJ�OmRIOL�N?FDELCDIOJH�NmDGCI'�:L��H?BDORLKLFD\�T�K?oBJH�DNmFLOmF'�:LD�NGBGoBLF�NB?FmKCJOp�K?DJEIFJD?OJSp� W?BC\FJSp� GCGB�mSCJS'��G�oeF�6eoLSWeO'

:L� RmDCJWmFMm� F� ?KCmS� Om@CLEmp� F� NBJDeEC?DEm� oLQLEI?HNBGKDELFCJOmFp�@J�TLDNmFLRJ�OmRIOL�N?FDELCDIOJH�NmDGCI'�=?fF?\MIOG�?O?�?oDGBFeFLR?�K?ORLKC?�O?|C?Q?p�HE?�EL@�oeF'

2mDR\�CL�?Q?�FJDEeNe�CL@�QLBC?�N?K\OeFLRJp�m�@J�FmKmS�RJK?�DF?f��D?ECm'�5Dm�BLKmRJp�}?�BLT?@�T�DGR\CL@J�m�B?omECJOL@JF�KCm�BGF?RUMm��SKG�CL�L�mCEGRm�GCMm\'�6?RJ�T+�TK�TLOmCWJFD\p@J�FmKmS�RJ�K?�DGRL�0eB+f'

�X���WiW�r���o�� t� ' �����oX� ���'

P�RmDe�FmK�DGRL�0eB+f�@J�N?FGBCeRJD\�CL�RmDCJWmFOe�omR\DGRL�4E?B?CC?�'� <� WLD� CL�?Q?� FmKN?WJCOe�NBJS�?F� RmOLB�CLNGBGQR\K� D?ECm'� :GFK?FTm� NBJoeRL� D?EC\� �/IFmF�p� L� @JTLOFLBEJBeFLRJ� F�4E?B?CCmS'� <� MGS� WLD� Cm@?EL� FJR?FRUFLRLo?RI�GFJMIOJH� NLBL�eEJDEmF'

1KC?Q?� KC\p� KGDI� O?R?� q.j?�� Q?K'p� NBJS�R?� EB?f� NLBL�ejEJDEmF�K?�4E?B?CC?��ToJBLEJ�HLBWm'�:L��BmS�KmDELF�CLOLT�N?R?FJEJ�Hp�LRG�MG�CL@�CG�FKLR?D\'�1KJC�T�NLBL�eEJDEmF�FmKoJFD\�m�N?NLFe� BeOJ� ��CLMIO?�� D?ECm�'� �G� oeF�|JK� T� ALBO?FL'� 5FGW?BmNBJS�R?�}G� q�� NLBL�eEJDEmFp� LRG� TL� CJ@J� Nm�RJ� DEBmRIMm� TmD?ECm��/IFmF�'�<�NGBGDEBmRMm�oeF�N?BLCGCJS�?KJC�DEBmRGMI'

..Z

<� DGRm� 2mKoe|m� RmDCJWJ@� oeF� N?R\Op� }?� NBLMUFLFB?TFmKCJO?@�CL�KFm�DE?B?CJg�CL�O?BJDEI�Cm@MmF�NB?EJ�CLD�m�CLO?BJDEI� o?RI�GFJOmF� NB?EJ� CLD� m� Cm@MmF'�=J� KmDELRJ� CLOLTS?Q?� TCG�O?KJEJ'� PLFKLCC\� FJO?CLC?'

]�s�r��W'tp'

XeRL� QLBCL� D?C\�CL� N?Q?KL'� 7mTC?DEBeCCJ@� DNmF?@eNBJf@CUFLRJ�NELHJ�CL��D?C�F�DE?K?RLH�CL�DmCm'�7LNE?@�N?DEBmR'8R\B@��:LD� ?E?WeFLRL�Cm@?EL� F� Q?Bm�CI?@e�OmCMm�4E?B?CC?�':L� RmDCJWmFMmp� KG� OFLBEJBeFLRL� D?EC\� �/IFmF�p� OJNmF� omS� TCm@M\@J'�<mKDEeNLf@?�K?�RmDe'

5�o?U�T�Cm@M\@J�omR\�RmDCJWmFOJ�TLQJCeF�OjB�D?ECm��/IFmF�EL� ?KJC� DEBmRGMIp� }?� oeF� BLCGCJS� CGKLFC?� F� DeEJWMm� TNLBL�eEJDEL@J'�:LKFGWmB�eoJEJH�N?H?B?CJRJ�F�DNmRICmS�@?QJRmO?R?�DGRL�:GKmRIC?��CL�Q?Bm'

�B?CE�CLoRJ|LFD\'�:L�Q?DEJCM\H�FGRJOJS�BeH�Cm@GMIOJHFmSDIO'�1KCm�CL�NmKF?KLHp�mC�m�CL�LFE?@L�JCLHp�L�KGHE?�CLFmEINm�OJ'�5DUKJ�BGF�HeK?oJp�QeO�@?E?BmFp�mB|LCC\�O?CGSp�NGBGORJOm� NRLW� KmEGS'�6?EBJS� e|G� BLT� N?OJKLf� eOBL�CDIOG� CLDGRGCC\BmKCm�DGRLp�mKeWJ�CL�DOJELRI}JCe�N?�We|JH�OBL\Hp�e�CGFmK?@G'''

:L� HeE?Bm� 6LEGBJCL� omR\� DGRL� /e|OL� TLOFLBEJBeFLRJg��CLMIOL�D?EC\��m�D?EC\��/IFmF�'�4?EC\��XeRLFL��FmKmS�RL�K?DGRL�=?CLDEJBM\'�.qjRmECmS�omR\FJS�EL�DEBeCOJS�OjB�W?EJ�4mBO?N?omQ�e�DGR?�B?f@p�}?o�TK?oeEJ�KG}?�ToB?�'�<�DGRm�FmC�TmEOCeFD\T�Cm@GMIO?U�QBeN?Up�B?TN?WLF�omSp�B?TToB?�F� ��p�L�EJ@�WLD?@TL�QBeN?U��HLRJ�ELo?BJ�EL�N?DeFLRJD\�Cm@GMIOm�Nm�m�WLDEJCJ'_mS�R?�K?�TLFT\E?Q?�o?Up�F�\O?@e�TLQJCeF�OjB�4mBO?p�ToB?S?FJS_?Foe�p�?KJC�DEBmRGMI�m�KF?f�MJFmRICJH'

=Jp� TLLR\B@?FLCmp� Nm�RJ� CL� K?N?@?Qe� CL�J@� KBeT\@':m@?ELp� TeDEBmF�J� CL�� DJRICJS� F?Q?CIp� N?FGBCeRL� K?� DGRLdeOFL'� 5FGW?Bm� @J� N?H?FLRJ� CL�JH� KBeTmFjQGB?�F� BLT?@� TMJFmRICJ@J�omR\�MGBOFJ�NBJ�Q?DEJCMmp�CL�B?TK?Bm||m'

_BeQ?Q?�KC\�K?�CLD�K?ReWJRLD\�eOBL�CDIOL�N?RmMm\�Tm�/IF?FLpq.��W?R?FmO'

:L�EBGEmS�KGCI�NmDR\�o?U�T�Cm@M\@J�omR\�=?CLDEJBM\�CLDTLLR\B@?FLC?p�}?� ��CLMIOL� D?EC\��@Lf�omS� T�Cm@LOL@J�omR\DGRL� PF?BL'� 6?R?� q[j?�� Q?K'� @J� NBJS�RJ� F� Q?Bm�CJS� OmCGMIDGRL�4NBJCmp�KG�K?FmKLRJD\p�}?�omS�F|G�DOmCWJFD\'

..[

:LK�DGR?@�OBe|R\RJ�o?RI�GFJMIOm�RmELOJ�EL�WLD�FmK�WLDeOeRG@GECJ@�F?QCG@�?oDEBmRUFLRJ�Cm@MmFp�Ke@LUWJp�}?�MG��HCmNLBEJTLCJ�@LUEI�T�CJ@J�omS'

=J�TLOFLBEJBeFLRJ�F�4NBJCm�BLT?@�T�D?ECGU�OjBL�XLSKJ'0eE�oeR?�oLQLE?�N?R?CGCJH�Cm@MmF�EL�?KJC�BLCGCJS�DEBmRGMI�T��CLMIO?�� D?ECm�'

#� sr���S���#���� ������W��S���Yr�W�iX��

2?�?KC?KGCC?@e� FmKN?WJCOe� D?EC\� �XeRLFL�� FmKmS�RL� K?DGRL�:GKmRIC?�'� 4UKJ� NBJS�RJ� D?ECm� �4eB@L�p� �UCLOmF�� ELOjBL�XLSKJ'�4?ECm�TmS�RJD\�CL�NGBGQR\K�m�NGBGQBeNeFLCC\p�\OGB?oJRJ�OjBJ�2GBGoJSCmD�EL�_TFmCWeO'

=GCG� TLMmOLFJRL� N?DELEI� OjBL� 2GBGoJSC?DL'� =m|DEBmRIM\@J� Q?F?BJRJp� }?� FmC� ?KJC� mT� DELBJH� CL�JH� BGF?jRUMm?CGBmFp�K?FQ?RmECmS�F+\TGCI�N?RIDIOJH�EUBG@�*�XBJQmK?O�mXGBGTJ�6LBEeTIO?�'� XeF� OjB�2GBGoJSCmD� DGBGKCI?Q?� TB?DEepW?BC\FJSp� oRJTIO?� �[� RmEp� DeF?BJSp� LRG� DNBLFGKRJFJS� mNB\@?RmCmSCJS'

:L�J@�D?EGCCJ@�DELF�OjB�4G@OmF'�4ELC�D?ECm�*�qw��F?\OmF'2mDR\�NGBGQBeNeFLCC\�@J�FmKmS�RJ�K?�DGRL�4FJKCJOLp�L�T�CL@JoLQLE?�KmFWLE�*�eWLDCJMI�FJTF?RIC?jBGF?RUMmSC?Q?�NmKNmRR\'4UKJ� NBJS�RL� ELO?|� D?EC\� 7mTeCL'� 2mDR\� NLRO?�� NB?@?FJp\Oe� FJQ?R?DJF� OjB�2GBGoJSCmDp� FmKoeRLD\� eB?WJDEL� NBJD\QL'2BJD\Qe� NBJS@LF� DL@� OjB�2GBGoJSCmD'�2BJD\QLRJ� F?\OJ� CLFmBCmDEI�5OBL�Cm'�>�Nm�RJ�F?CJ�CLTeDEBmW�F?B?QL@p�e�K?FQmp�OBJFLFmpCGBmFCm�o?�'

Z��n��W���s�r��W'tp'

2mDR\� NBJD\QJ� CL�m� B?TFmKLWOJ� K?CGDRJp� }?� Cm@MmpFEmOLUWJp�|?BDE?O?�QBLoeUEI�DGRL'�6jB�2GBGoJSCmD�KLF�CLOLTO?@LCKJBL@�D?EGCI�DELEJ�F�?o?B?Cm�eOBL�CDIOJH�DmR�m�N?OLBLEJQBLom|CJOmF'

2GB�L�CL�L�TLDmKOL�CG�FKLRLD\'�:m@Mm�N?FEmOLRJp�L�@J�FmKoJRJEmRIOJ�DGR\Cp�}?��H�F?CJ�QCLRJ�NGBGK�DGoG�HE?TCL�OeKJ�m�N?}?'

:L� EBGEmS� KGCI� NmDR\� CL�?�� NBJD\QJ� TC?Fe� B?TFmKLWOJK?CGDRJp�}?�F�/LDEmFOLH�TLEBJ@LFD\�FGRJOJS�Cm@GMIOJS�?o?T'PLFEBL�FmC�@Lf��HLEJ�F�CLNB\@m�DGRL�>DL�'

..Y

:L�L�W?EL�KmDELRL�TLFKLCC\�NGBGSEJ�BmOe�4EBJSp�TLSC\EJN?TJMm�p� L� Cm@GMIOm� ?o?TJ� NGBGNeDEJEJ� K?� DGRL� >DL�'� 4GR??oDELFJF�DF?�@�FmSDIO?@�DRLFCJS�OjB�7mTeC'

`�RG|LF�omR\�OeRG@GEL��E?OLB�'�2GBGNeDOLf@?�Cm@MmFp�L�N??DELCCmS�NmKF?Km�FmKOBJFLf@?�F?Q?CI'�:m@Mm�T�DEBLH?@�N?OJCeRJNmKF?Ke� m� N?omQRJ� CLNGBGK'�_?� NmKF?KJ� NmKDO?WJF� DEB'�A@LBLpTK?oeFLUWJ�CL�CmS�oLQLE?�L@eCmMm�p�OeRG@GEL��KGHE\BL�p�22a'0BJ�BLTJ�NmKDeFLRJD\�Cm@Mm�T�F?QCG@�K?�NmKF?KJp�LRG�DEB'�bB?TL�H�FmKoJFLF'�2?�O?B?EOmS�NGBGDEBmRMm�Cm@GMIOJS�QLFNE@LC�BLT?@mT�q[��F?\OL@J�TKLFD\'�0eE�TK?oeRJ�@J�.k�NmKF?Kp�oLQLE?�OeRG@GEmF�@LODJ@�p��KGHE\B�p�L@eCmMm��EL�FD\O?��mC�?��Cm@GMIO?��ToB?�'

6?RJ� Cm@MmF� B?TToB?fC?p� NBJS�?F� OjB�2GBGoJSCmD'� <mCCLOLTLF� TmoBLEJ� Cm@MmF� e� RLFJ'� :m@GMIOJS� QLFNE@LC� N?WLFNB?DJEJ�OjBL�2GBGoJSC?DLp�}?o�TFmRICJF�S?Q?�F?\OmFp�L�TL�EGFmC�K?N?@?|G�ToB?fU�KR\�528'�1KCLO�OjB�2GBGoJSCmD�N?K\OeFLFS?@e�TL�?omM\Ce�K?N?@?Qe�m�FmKN?FmFg��_?N?@?QJ�FmK�FLD�@J�CGN?EBGoef@?p� L� ToB?U� TLoJBLf@?�'� 2mK� WLD� B?T@?FJ� K?OjBL�2GBGoJSC?DL�NmKmS�?F�?KJC�DEBmRGMI�mT�D?ECm�OjBL�7mTeCL�mN?OLTLF�DFmERJCep�\Oe�TCLS�?F�e�N?BE~GRm�?KC?Q?�N?R?CGC?Q?Cm@LOL'�:L�CmS�oeRL� De@CL�OLBEJCL'�:L� ERm�/IF?FL�CL�KGBGFmoeF� N?Fm�GCJS� eOBL�CGMIp� L� CLK� CJ@� ELoRJM\� T� CLNJD?@eOBL�CDIO?U� m� Cm@GMIO?U� @?FL@Jg� �5OBL�CDIOJS� oLCKJE�'6jB�2GBGoJSCmD� B?TDGBKJFD\� EL� DOLTLFp�}?� FDmH� B?TDEBmR\f'bLFNE@LC� N?WLF� NRLOLEJ� m� NB?DJEJp�}?o� B?TDEBmR\RJ� EmRIOJFJCC?Q?� Cm@M\p� o?� FmC� NLBEmSCJSp� L� BG�EL� CGNLBEmSCm'� 0?Q?Cm@M\�B?TDEBmR\RJp� L� FDmH� mC�JH� TFmRICJRJ�oGT� ToB?�'� <� E?@eo?U�FmKTCLWJRJD\�W?E'�2GBGRGDCJO�m�DEB'�bB?TL'

0BJ�KCm�?NmDR\�K?CGDRJ�CL@�B?TFmKLWOJp�}?�F�DGRm�0eB+fpN?omW�Cm@GMIOJH�WLDEJCp�f�WLDEJCL�bLRJMIO?��KJFmTm�p�\OL�H?WGNGBGSEJ�K?�N?FDELCMmF'��mRL�D?EC\�Nm�RL�CL�TLDmKOep�}?o�eKLBJEJN?�Cm@M\H�EL�e@?|RJFJEJ�FEGWe�CL�J@�WLDEJCL@'

5FGW?Bm�@J�TLWGNJRJ�Cm@GMIOe�B?TFmKOep�}?�FmKDEeNJRLp�LTL� O?B?EOJS� WLD� omRI�m� Cm@GMIOm� DJRJ� N?WLRJ� CLDEeN� CL0BGCJWCmF� @m|� DGRL@J� 0eB+f�*� 4FJKCJOp� NmK� NBJOBJEE\@NGBGHBGDC?Q?� F?QCU'� <� E?S� DL@G� WLD� ?KCL� W?EL� eOBL�CDIO?�KJFmTm��DO?BJDELRLD\�DeEJWO?U�Cm@MmF�T�CL@Jp�FKLBJRL�DJRICJ@OeRG@GECJ@�F?QCG@�N?�Cm@M\Hp�e@?|RJFRUUWJ�CL@�FmKDEeNp�LDL@L�FmKmBFLRLD\�FmK�Cm@LOmF�m�Nm�RL��eOLEJ�528p�}?o�K?�CG�K?ReWJEJD\'

..n

=J�FmKDEeNJRJ�K?�RmDe�m�N?KLRJDI�e�CLNB\@m�BmWOJ�4EBJSp@LUWJ� CL@mB� NGBGSEJ� F�=LSKLCDIOm� RmDJ'� P� CL@J� FmKDEeNLR?N?CLK� .�� KmFWLEjNmKNmRICJMI� m� B?TFmKLWmF� 528'� _mFWLEL� Mm� FNGBGFL|CmS� omRI�?DEm� GRG@GCE� o?S?FJSp� mKGSCJSp� FmKKLCJSMmRO?FJE?�DNBLFm��o?B?EIoJ�TL�FmRICe�eOBL�CDIOe�KGB|LFe'�0mRIOJKG\Om� T� CJH� Nm�RJ� F� 528� EmRIOJ� E?@ep�}?� S�RJ� EeKJ� mC�mp@?|Gp� E?@ep�}?�oeF� DGBGK�N?FDELCMmF�@JRJS� Lo?�CLBGWGCJS'4ELFJRJD\�K?�CJH�N?jBmTC?@ep�MG�TLRG|LR?�FmK�O?@LCKJBL'�_?oBmO?@LCKJBJ� MmCeFLRJ� �Hp� o?� F� KG\OJH� FJNLKOLH� F?CJ� oeRJCGTL@mCJ@m'�:LE?@mDEI�KG\Om�O?@LCKJBJ�m�NB?FmKCJOJ�oeKIj}?H?EmRJ� DGoG� N?OLTLEJ� �RJMLB\@J� oGT� oLo�p� H?W� CLDNBLFKm� TLEJ@J��oLoL@J��WLD?@�NB?NLKLRJ'

:LDEeNLUWJ�CL�CLDp�Cm@Mm�DNLRJRJ�HLEe�=LEFm\��}J�JCLF�Q?Bm�CI?@e�OmCMm�4FJKCJOL'

:L�DFmELCOe�@J�NGBGH?KJRJ�BmWOe�omR\�B?TFLRGC?Q?�@?DELF�CLNB\@m�DGRL�`DmCOL'�:L�NBLF?@e�o?Mm�4EBJ\�oeRL�Cm@GMIOLOmCC?EL'�1KJC� mT� OmCC?ECJOmF� FJDEBmRJF� T� NmDE?R\� m� N?MmRJFCL�?Q?� N?BeWCJOLp� NDGFKL� \O?Q?� \� CG� TCLU'�=J� TLoBLRJN?BeWCJOL�m�FmKDEeNJRJ�CL�Q?Bep�F�RmD�`BWJOJp�KG�W?EJBJ�BLTJT�eDmH�DE?BmC�CLDEeNLRJ�CL�CLD�Cm@Mmp�?KCLO�Q?BJ�@J�Cm@M\@�CGFmKKLRJ'�0eE�N?H?B?CJRJ�CGFmK?@?Q?�N?BeWCJOLp�L�F�DGR?�FmKKLRJN?BLCGC?Q?�F�O?RmC?�DEBmRIM\'

<�E?S�DL@G�WLD�O?EBLDI�D?EC\�B?ToJRL�Cm@GMIOJS�?o?T�FDGRm� XJDEBJMmp� TK?oeFLUWJ� NBJ� E?@e� oLQLE?� ToB?�p� FJB\Ke� mHLBWmF'

PQLKLU�EeE�}Gp�o?p�@?|Gp�E?Q?�CmKG�CmHE?�CG�TLNJDLFp�}?}G�NGBGK�CL�?U�NBJD\Q?U�F�DGRm�4FJKCJOe�T�RmDmF�O?R?�DGRL�KLCC?��NB?BJFLFD\�?KJC�OeBmCI�528�WGBGT�<J|Oe�F�CLNB\@m4FJKCJOL'�:L��R\He�@m|�DGRL@J��KLCCL�*�0eB+f�NGBG�TKJRJoGT�NGBGBFJ�Cm@GMIOm�LFE?O?R?CJ�m�ELo?BJ'�6eBmCIp�CG�@LUWJT@?QJ� NGBGSEJp� DJNCeF� F?QCG@p� B?TmQCLF� Cm@MmF� m� N?KLFD\� FFGBHJ'�2mK�WLD�MI?Q?�NB?BJFe�TQJCeF�?KJC�DEBmRGMIp�L�?KJC�oeFN?BLCGCJS'

2mDR\� B?ToJEE\� Cm@GMIO?Q?� ?o?Te� F� XJDEBJMm� Cm@GMIOmWLDEJCJ� Nm�RJ� CLFTK?QmC� WGBGT� XeTIOmF� F� CLNB\@m� NBJDmROLPLFGBH'�:m@MmF� F� RmDm� TLNBJ@mEJF� DGR\CJCp� \OJS� TLLR\B@eFLFQBeNe� NmKNmRICJOmFp�}?� EL@� OFLBEJBeFLRL'� XRJTIO?� [�� Cm@MmFDO?B?�NmKDeCeR?DI�F�CLNB\@m�HLEp�ELO�}?�NmKNmRICJOJ�CG�@LRJF|G� WLDe� TLoBLEJ�@L�JC� EL� mC�JH� DF?�H� BGWGS'�:L� ?o?B?Ce

..w

Emf��QBeNJ�Nm�RL�QBeNOL�4EBJSDIO?Q?�T�Q?Bm�CI?Q?�OmCM\�0eB+fp\OL�FKLBJRL�FmK�OLNRJMm�TFGBHe�N?�Cm@M\H'��G�KLR?�@?|RJFmDEIDGR\CL@�TLH?FLEJ�BGWm�N?FDELCMmF'�2mK�F?QCG@�N?FDELCMmF�Cm@MmFEGORJ�CL�WLDEJCe�DGRL�7?TE?OJp�TLoBLRJ�OmRIOL��EeO�HeK?oJ�mFmKmS�RJ�F�CLNB\@m�DGRL�>DL�'

R���W�'���u������ ��W�W�

2mDR\� o?U� F� RmDm� `BWJOJ�*� w.Y�@�@J� NB?BFLRJD\� FC?WmWGBGT� BmOe� 4EBJS� m� TLS�RJ� e� RmD� Q?BJ�=L�eBJ�*� q��q� @'6jB�2GBGoJSCmD�FJDRLF�?�q�jmS� Q?K'�KBeQ?Q?�KC\�KFm�DEG|m�CLB?TFmKOe'�1KCL�DEG|L�DO?B?�FGBCeRLD\�S�N?FmK?@JRLp�}?�CLKCL@Jp�CL�FmKKLRm�.��j����@p�?O?NeUEID\�Cm@Mm�FGBHL@J�Q'�=L�eBJm�2GBGCJTJCJ�*�q�.w�@'�_BeQL�DEG|L�FGBCeRLD\�S�N?FmK?@JRLp}?�F�DGRm�6mCKBLE?Fm�F|G�DE?\EI�o?RI�GFJOJ'�VEJ�F�QRJoJCe=LSKLCDIOJH�RmDmF�oeR?�CGK?MmRIC?p�o?�EL@�OJNmF�~B?CELRICJSomS'�=J�?NJCJRJD\�F�?E?WGCCm�F?B?|JH�LB@mS'�:GFK?FTm�TLBGFRJQLB@LEJp� TLLHOLRJ� @mC?@GEJp� TLKeKCmRJ� OeRG@GEJp� T+\FJRJD\B?TFmKeFLRICm�RmELOJ'�6eRm�T�?KCmf��m�KBeQ?��DE?B?CJ�eFGDI�WLDDFJDEmRJ�N?CLK�CL@J'�ALBWmF�e|G�CG�oeR?'�P�?DELCCI?Q?�F?RLB?TN?KmRJRJ�@+\D?p�\OG�DEBmRIMm�T+�RJ�DJBJ@'�6?CGS�CLE?@mDEI@LRJ�omRI�G'�=J��H�NeDEJRJ�CL�N?R\CJp�ToGBmQLUWJ�CL�W?BCeQ?KJCe'

4OBeECL�DJEeLMm\�FNRJCeRL�FmK+f@C?�CL�KG\OJH�DRLo?FmBmF'6jB�2GBGoJSCmD�TLTKLRGQmKI�NBGKoLWLF�CLDRmKOJ�MI?Q?�DELC?FJ}LpE?@e� CLOLTLF� OjB?Fm� 4G@O?Fe� TB?oJEJ� TomBOe� m� CL� N?B\KOeKGCC?@e�N?DELFJEJ�NJELCC\g�HE?�H?WG�SEJ�K?K?@e��PFmRICJEJEJHp�HE?�TQ?R?DJEID\p�EL�EJHp�\Om�CGTKLECm�~mTJWC?�FJEBJ@LEJMm� FL|Om� e@?FJp� }?� DEF?BJRJD\'� 2mDR\� TomBOJ� KG\OG� WJDR?DEBmRIMmF�FmKNLR?'�<?CJ�TKLRJ�ToB?U�m�N?�KF?fjEB?f�NB?BJFLRJD\F�DF?��DE?B?CJ'�P�?KC?Q?�o?Oep�MG�oeR?�K?oBG'�6BL}G�\OmDEIpCm|�OmRIOmDEIp� RGQ�G�oeR?�@LCGFBeFLEJ� m�NB?HLBWeFLEJD\p�L�TKBeQ?Q?� o?Oep� CG� ?KJC� mT� TFmRICGCJH� @mQ� N?NLDEJ� F?B?Q?Fm� FBeOJ� m�TBLKJEJ�@mDMG�CL�?Q?�N?DE?Up�EJ@�omRI�Gp�}?�KLRGO?@J�CG�@?QRJ�FmKmSEJp�o?�CLFO?R?�oeRJ�F?B?|m�RmCm�'

6jB�2GBGoJSCmD� TLoBLF� T� D?o?U� ?KCe� W?Ee� m� FmKmS�?F� eCGFmK?@?@e�CLNB\@m'�:L�L�QBeNL�F�E?S�WLD�CLBLH?FeFLRL�O?R?Y�� F?\OmF'� 2GBGH?K\WJ� CL� mC�G� @mDMG� N?DE?Up� @J� TeDEBmRJQ?DN?KLB\� Tm� DGRL� 6mCKBLE?FLp� \OJSp� KmTCLF�JDIp� }?� @J

..k

N?FDELCMmp� NmKC\F� BeOe� FQ?Bep� oRLQ?DR?FJF� CLD� CL�}LDE\� S}LDRJFe�NeEIp�L�DRI?TJ�EGORJ�S?@e�N?�?oRJWWm'

<�?E?WGCCm�@J�NGBGoeFLRJ�F|G�EBJ�K?oJ'�:GKLRGO?�FmK�CLDoeRL�S�D?EC\�OjBL�7mTeCL'�6jB�7'�?KCe�DF?U�W?Eep�}?�DORLKLRLD\T� F?\OmF� BmTCJH� CLMm?CLRIC?DEGSp� FJDeCeF� KLRm� FmK� D?ECm'6?@LCKJB�Mmf��W?EJ�FJDRLF�KF?H�DEBmRIMmF�CL�B?TFmKOe��?KJC�T0GBC?NmRI}JCJp�L�KBeQJS�*�CLKKCmNB\CGMI�'�0mp�NBLFK?N?KmoC?pTBLKJRJp� FOLTLRJ� F?B?Q?Fm� @mDMG� N?DE?U� W?EJp� m� o?RI�GFJOJFmKOBJRJ�N?�CmS�oLBLoLCCJS�F?Q?CI�T�FL|O?��ToB?�'�1N?FmKLF@GCm�?KJC�DEBmRGMIp�\OJS�oeF�e�EmS�W?Emp�}?�F?B?|JS�F?Q?CIoeF�DEBL�CJSp�FDG�FLRJR?DI�K?K?Re'�`Om�oeRJ�EL@�CL�m�FEBLEJpCG� TCLU'� X?RI�GFJMIOm� DEG|m� FmKE?Km� oGTCLDELCC?� H?KJRJ� N?RmDe�CL�FmKKLRm�FmK�CLD�q�j.��@GEBmF'

�S���WrX����'3p��v�W��������

:L�� D?EGCCJS� OjB� 4G@OmFp� H?W� DN?WLEOe� m� KLFLF� OLBCm@e�EBJp�OL|eWJp�}?�@J�FDm�Cm�K?�W?Q?p� m� EBJ@LFD\�CGN?QLC?pEGNGB� DELF� oGTBLKCJ@'� 0J@� WLD?@� e� OjBL� 7mTeCL� oeF� oLQLE?OBL}JS�N?B\K?O'�<mC�KoLF�CG�RJ�G�NB?�DF?�H�F?\OmFp�LRG�NL@+\ELFm�NB?�mC�JH'

1E�DL@G�DI?Q?KCm�eFGWGBm�NBJS�?F�FmK�CI?Q?�NGBG?K\QCGCJSF�MJFmRICJS�?K\Qp� T� QBLoR\@J�@LRGCIOJS�DEBmRIWJO�Tm� DELBJ@KmKeDG@�EL�NBJCmD�CL@�oeRIo\CJOp�\OJ@�N?KmRJR?D\�Z��DEBmRIMmF'0J@�DOB?@CJ@�N?KLBeCO?@�DOLTLF�oLQLE?�NB?�DGoG�OjB�7mTeCp�LDEBmRIMm�FmKBLTe�Te@mRJ�?MmCJEJp�HE?�T�O?@LCKJBmF�W?Q?�FLBEJS':L@� CGQLSC?� N?EBmoCJS� oeF� mC�JS� D?EGCCJSp� \OJS� DF?fUN?FGKmCO?Up� ELOE?@� m� O?@LCKJBDIOJ@� DR?F?@� TmQBmF� oJ� DGBM\DEBmRIMmF'

Z�'X�m�t�����w

�mf��|� C?Wm� @J� NGBGS�RJ�~B?CEp� F� EJR� o?RI�GFJMIO?�RmCm�'�:L�Q?Bm�=L�eBm�NB?DJKmRJ�}G�KFm�K?oJ�oGT�HLBWmF'�<�D?ECmN?WJCLfEID\�B?TORLK'�6?R?�.��DEBmRIMmF�B?ToBGRJD\�OeKJ�HE?H?WGp� CL� FRLDCe�BeOe�Nm�?F� m� OjB�4G@OmF'�1KC?Q?� KC\�OmRIOLDEBmRIMmF�ToJBLR?�F�RmDm�@LRJCJp�KG�S�TeDEBmRJD\�Tm�DEBmRIM\@JOjBL�7mTeCL'�7LT?@�@J�NGBGS�RJ�K?� �HCI?��D?ECm'�2?�\O?@eDIWLDmp�O?RJ�@J�OFLBEJBeFLRJ�O?R?�DGRL�/LDEmFOJp�NBJS�?F�CL�

.��

W?E'� 7GC� m� TLoBLF� CLTLK� K?� DGoG'� <� W?Em� \� TLDELF� oRJTIO?� Z�DEBmRIMmF'�6?R?�/LDEmF?O�@J�KG}?�FmK|JFJRJD\�N?�OmRIOLKGCC?@eQ?R?Km�S�FmKmS�RJ�F�RmD�O?R?�DGRL�4E?B?CC?�p�KG�NBJS�?F�}GBLT�K?�CLD�NGBGoBLCJS�e�MJFmRICG�OjB�4G@OmF'�:L��W?E?FJSp�\EL�OmRIOL� mC�JH�DEBmRIMmF�FmKBLTe�F�?Wm�DOLTLRJ�S?@ep�}?�FmCN?FmFD\� QLCGoC?p� TLRJ�JF�J�D?ECU�oGT� ?NmOJ� m� FOLTmF?Op�}?FmKN?FmKLEJ@G�TL�B?TORLKp�KGTGBEJBDEF?�EL�TL�EJH�DEBmRIMmFp�\OmBLKJ�OeDOL�HRmoL�S�RJ�F�DGR?�m�EL@p�FJDCL|GCmp�N?NLKLRJ�F?B?Q?FmF�BeOJ'�6jB�4G@OmF�N?OBeEJFD\p�L�N?Em@�TCJO'

6?R?�DGRL�=?CLDEJBM\�NBJSC\RJ�CLD�Ke|G�FFmWRJF?�@mDMGFmKmFWLEL'� PL� O?B?EOJS� WLD� F?CJ� CLD� FmK|JFJRJ� m� FJRmOeFLRJHF?BJHp�m�@J�FmKmS�RJ�CL�XmRJCDIOm�oLQCL'

U����n���

:L��JB?OJH�m�B?TR?QJH�CLKKCmDEB\CDIOJH�oLQCLH�OBJR?D\OmRIOLCLKM\EI�D?EGCI�DGR\C�FmK�@?omRmTLMm��K?�dGBF?C?��LB@m�'1KCm� Tm� ToB?fUp� mC�m� Q?RmBeW'�2GBGoeFLRJ� EeE� ELO?|� Oe}?FmRLCOJp�}?�CLBLH?FeFLRJ�N?�OmRIOLCLKM\EIp�L�CLFmEI�N?�OmRIOLjKGD\E� W?R?FmO'� <?B?Q� F|G� B?oJF� EeE� ?oRLFJ� TL� K?N?@?Q?U�OeOeBeKT\CJOmF�'�5WLDEI�F�?oRLFLH�oBLRJ�WGBF?C?LB@mSMmp�E?@eEm�?oRLFJ�oeRJ�oGTeDNm�Cm'

P� NBJH?K?@� CL�?�� D?ECm� CL� oLQCL� F?B?Qp� @LUWJ� K?oBeB?TFmKOep�N?DJRJF�?oRLFJp�LRG�@J�@LRJ�}G�OBL}e�B?TFmKOe�FmK|mC?Op�@LEGBmFp�DGDEGB�m�KmEGS�EJHp�}?�OBJRJD\�FmK�@?omRmTLMm�':G�BLT�Q?CJRJ�CLD�o?RI�GFJOJ�MmRJS�KGCIp�L�@J�NGBGDEBmRUjFLRJDI� m� F?KJRJ� �H� N?CLK� OLCLRL@Jp��RUTL@Jp� FLRL@Jp� WGBGTEB\D?FJDIOLp�CGNB?HmKCm�@mDM\p�oeKeFLRJ�NGBGH?KJ�T�DmCLp�@LUWJK?oBJH� NB?FmKCJOmFjEGBGC?FJOmF'�:G� ?KJC� DJomB\O� EBmDCeF� eoGT?KCU�oGTDRmKC?p�TLE?CeF�e�DRmN?@e�DELFe�WJ�DELB?@e�OLCLRmpEmRIOJ�oeRIOCeR?�TL�CJ@'

1KC?Q?� BLTe� TKGTGBEeFLR?� .n� WGBF?C?LB@mSMmF'� <mK� E?Q?WLDe�o?RI�GFJOJ��eOLRJ�F|G�omRI�G��Hp�Cm|�CLDp�OL|eWJp�}?e�CJH�ELO?|�f��oLCKI?BJ�'

:L@� EBLNJRLD\� N?QLCL� NBJQ?KL'� >KeWJ� oLQCL@J� K?� DGRL=?DEJp�B?S?FJS�b?CE?FJW�DEeNJF�CL�@mCep�\OL�FmKmBFLRL�S?@eC?Qe'�aO?KL�oeR?�K?oB?Q?�B?S?F?Q?�m�KBeQL'�<�DGRm�FmK�D?REJDL@J�FT\RJ�N?DFmKOep�}?�B?S?FJS�b?CE?FJW�T�MI?Q?�DGRLp�L�KmFWLELFmKFGTRJ�S?Q?�K?�/IF?FL'�5��NJELRm� EL@�oeF�N?R\O�T�=?DEmFp

.�q

\OJS� DOLTLFp� }?� ELO?Q?� W?R?FmOL� F�=?DELH� CG� oeR?p� L� KR\NGFC?DEm�Nm�?F�K?�DGRL�NGBGFmBJEJ�BLT?@�}G�T�?KCJ@�N?R\O?@':LD�CGQLSC?�N?FmK?@JRJ�NB?�NBJHmK�B?TFmKLWmF'�AR?NMm�FNLRJ�FDGR?p�FNmS@LRJ�?o?H�m�TCJ}JRJ'

2BJS�?F�J� CL� oLQCLp� OjB� 7GC� K?N?FCJF� DF?U� D?ECUDGR\CL@J�T�EJH�DL@JH�EGBGCmF'

V��W�tW����p����%#

:LFGDCm� qkZZ� -'p� FEmOLUWJ� T� o?RI�GFJMIO?�� CGF?Rmp� KF?fmELRmSMmF�TLS�R?�K?�DGRL�/e|?O�b?Bm�CmS'�<�B?T@?Fe�T�CJ@JTLS�?F�?KJC�DGR\CJCp�}?�F@mF�Q?F?BJEJ�N?jmELRmSDIO?@e'�<mCB?TOLTLF��@�NB?�o?B?EIoe�528�EL�FDI?Q?�eOBL�CDIO?Q?�CLB?KeNB?EJ� o?RI�GFJOmF'� 1oJKFL� mELRmSMm� FDEeNJRJ� F� CL�m� RLFJ'4N?WLEOe�oeRJ�F?CJ�F�Oe}m�4?B?OLE?Q?p�L�TQ?K?@�NGBGS�RJ�K?D?ECm��XeRLFL�'

1KJC� T� CJHp� �BLCKmp� O?RJ�CmS� ?~mMGB� mELRmSDIO?�� LB@m�poeF� FJD?OJS� oRI?CKJCp� FGDGRJSp�@LF� FJ}e� ?DFmEep� N?H?KJF� TQBL~DIO?�� B?KJCJ'� 2?� \O?@eDI� WLDm� S?Q?� TLoBLF� K?� DGoGOjB�P@mUOL'

_BeQJS� mELRmfMIp�2mO?RI?p� oeF� T?FDm@� mC�JS�*�CJTIOJSpOeWGB\FJSp� W?BC\FJS'� <� D?ECm� T� CJH� @LRJ� oLQLE?� N?EmHJpCLSomRI�G�CL�N?WLEOe��H�N?oeEep�O?RJ�F?CJ�N?WJCLRJ�FWJEJD\Q?F?BJEJ� N?jeOBL�CDIOJ'�:G� BLT� F� CJH� FJH?KJR?� DR?F?� ELOGNGBGOBeWGCG�S�KJF?FJ|CGp�}?�Q?Km�oeR?�eEBJ@LEJD\�FmK�D@mHe'2mO?RI?�Q?F?BJFg��/UoRU�5OBL�Cep�5OBL�CL�K?oBLp�LRG�EeE�KBe|GDNLEJ�*�EeE�O?B?FL�DNLEJ�'��_GDI�e�\O?Q?DI�omKLOL�oLWJF�eTJ@OeO?B?Fe�F�HLEmp�L�eOBL�CMmF�FDmH�CLTJFLF��KBe|G��'

:L� DEmSMm� 2mO?RI?� oeF� DRe|o?FJS'� `O?DI� OjB� 4G@OmFN?FGBELFD\�CL�O?Cm� T� EGBGCe� m�CG�TCLF�ORJWOJ'�2mO?RI?�DL@GE?Km� DE?\F� CL� DEmSMm� S� TLEBJ@LF� S?Q?g� �aEmS�� 7eOJ� FFJMI��4?EGCCJSp� TCLUWJp� }?� 2mO?RI?� S?Q?� FNmTCLF� m� N?FJCGCNB?NeDEJEJp� DOLTLFp� CG� TB?Te@mF�J� K?oBGg� ��?p�2mO?RI?p� EJH?WG��BeOLFJMIp�TJ@C?�E?om���2mO?RI?�FKBeQG�DOLTLFg��aEmSpo?��EBmR\U��� <mC� oeF� NGFCJSp�}?� D?EGCCJS� S?Q?� NGBGFmB\f'4?EGCCJS�N?WLF�NB?DJEJ�m�Q?F?BJEJg��2mO?RI?p�NeDEJp�NeDEJp�\D?EGCCJS�'� 8RG�2mO?RI?� CG� N?DEeNJFD\g� �`� CG�|CLU�|LKGC�?EGCCJS�p�*� m� CG� NeDEJF�S?Q?p� L|� K?OJ�CG� NBJS�RL� T@mCLDEmSOJ'

.�.

7LT� CL� OLBCmS� @e�EBm� D?EGCCJS� DO?@LCKeFLFg� �_?RmF��2mO?RI?� DE?\Fp� eKLUWJp�}?� CG� B?Te@mf'� 4?EGCCJS� TLNJELFg�2mO?RI?��0J�WeF�*�K?RmF����2mO?RI?�FmKN?FmFg��0LO�fp�KBe|G�?EGCCJS��`�F|G��F���4?EGCCJS�TLD@m\FD\�T�K?EGNC?Q?�F?\OL�mN?KLBeFLF�eDm@�DEBmRIM\@�OLBe'

1KC?Q?�BLTep�O?RJ�OFLBEJBeFLRJ�@J�CL�o?R?ELHp�OjB�7GCjPGRGCJS�Q?EeFLF�CLDO?O�CL�DELCJMU�@mRmMm��F�DGRm�dLSO?FJWm'�G�DGR?�}G�TL�N?RIDIOJH�WLDmF�oeR?�DO?@eCmT?FLCG'�4I?Q?KCmF?C?� N?KmRJR?D\� CL� KFL� F?B?|m� ELo?BJg� o?RI�GFJMIOJS� mN?FDELCDIOJS'� =mDMGFL� oLCKJEDIOL� @mRmMm\� |?BDE?O?NGBGDRmKeFLRL�B?KJCJ�N?FDELCMmFp�DEG|JRL�TL�CL@J�EL�F�eDI?@eDNmFNBLMUFLRL�T�F?B?Q?@'

2mO?RI?p� CG� OL|eWJ� CmO?@ep� Nm�?F� K?� DGRL'� 0eE� TeDEBmFKmEGSp�}?�TLFGRJ�S?Q?�K?�QeBLRICm'�2mKNJF�J�K?oBGp�Nm�?F�FmCCL�DELCJMU�@mRmMm�'

:L��LC?O�FJS�?F�O?@GCKLCE'�2mO?RI?�N?KLF�S?@e�BeOep�LKLRmp�FmKDEeNLUWJ�CL�EBJ�OB?OJp�FJDEBmRJF�NB\@?�F�QBeKJp�FoJF�JCL�@mDMm'�_LF�J�}G�OmRIOL�N?DEBmRmFp�N?WLF�eEmOLEJp�EL�BLNE?@CLomQ� CL� WGBF?C?LB@mSMmFp� }?� F� E?S� WLD� NB?H?KJRJ� DGR?@'_e@LUWJp�}?�FmC�?E?WGCJSp�FmKKLF�WGBF?C?LB@mSM\@�OBmDLp�LRGEmp�CG�T?BmfCE?FLCm�F�N?Km\Hp�FmKKLRJ�S?@e�CLTLK'��?SC?�CL�OBJO|mC?Og��<mC�TLoJF�O?@GCKLCEL�@mRmMm��p�*�F?CJ�S?Q?�B?TToB?�RJS�LBG�EeFLRJ'�_G\OJS�WLD�2mO?RI?�oeF�e�/IFmFDIOmS�EUB@mp�?KCLOCmW?Q?� CG� B?TN?FmF� F?B?Q?Fmp� H?W� oeF� eELf@CJWGCJS� e� KG\OmDNBLFJ'�`OL�K?R\�DNmEOLRL�S?Q?p�@GCm�CGFmK?@?'

2B?�KBeQ?Q?�mELRmSM\p��BLCKmp�B?TOLTeFLF�@GCm�F|G�F�5OBL�CmDE'�FmDE'�bLS?FJS'

:L� N?WLEOe� RmEL� qkZ[� -'� DE'� FmDE'� bLS?FJS� oeF� FJDRLCJSBLT?@� T� N+\EI@L� DEBmRIM\@J� T� N?�E?U� K?� ?oRLDEm'� <� Oe}mXJDEB?Q?�F�DGRm�4G@JQJC?Fm�Nm�?F�CL�FmKN?WJC?O'�0?Q?�|�KC\DNBLFR\RJ� FGDmRR\� ?KC?Q?� N?FDELCM\'�:L� ?H?B?Cm� FGDmRR\� oeFMmRJS�Oe}p�N?CLK�..�DEBmRIMm�T�KF?@L�OeRG@GEL@J'�:L�MG�FGDmRR\NBJS�?F�ELO?|�mELRmfMI��BLCKm�T�KF?@L�DEBmRIM\@Jg�4OLR?U�m=LRJ@� 7?@O?@'� 5Dm� F?CJ� FmK� OjBL� P@mUOJ'� >ELRmfMI� @LF44�=2p�4OLRL�*�OeRG@GELp�L�7?@O?�*�22a'

:L� E?@e� FGDmRRm� mELRmfMI� N?oLFJFD\p� L� N?Em@� N?NB?DJFOe}?F?Q?� Q?DN?KLBCJOL� 4?DCep� }?o� KLF� S?@e� D?R?CJCJ� mQ?BmROJ� CL� K?B?Qep� ?KCLO� E?S� FmK@?FJF'� >ELRmfMI� N?QB?TJFQ?DN?KLBCJO?Fm� m� FmKmS�?F'� PL� \OJSDI� WLD� MmRL� EBmSOLp� TL

.��

CL@?F?U� mELRmSM\p� FmKOBJRL� F?Q?CI� N?� KLHmFMm� HLEJp� KG� oeR?FGDmRR\'� PWJCJFD\� DN?R?H� m� LR\B@'�5Dm� Ke@LRJp�}?�MG�CLDO?Oo?RI�GFJOmF'�6e}�FJomQ�T�HLEp�TLC\F�DELC?FJ}L�m�FmKOBJF�F?Q?CI'2?�NmFQ?KJCCmS�DEBmR\CJCm�K?QLKLRJDIp�}?�MG�B?o?EL�mELRmSM\'

2mTCm�G��h�TB?oJF�DeKp�mELRmSMGFm�TLQB?|eFLRL�OLBL�D@GBEJ'1KCLO� mELRmfMI� NB?DJF� CG� OLBLEJ� S?Q?p� o?� FmC� CG� TCLFN?FDELCDIO?Q?�O?KGODe�EL�?omM\Fp�}?�FJNBLFKLf�DGoG�F�NBLMm'6jB�P@mUOL�N?KLBeFLF�S?@e�OLBep�TLTCLWeUWJp�}?�B?oJEI�MGEmRIOJ�E?@ep�}?��BLCKm�We|JCGMI'

<�DGBNCm� qkZ[� mELRmfMI��BLCKm� FmKmS�?F�T�OjB?@�<mKEJCOeP@mUO?U� TL� 4\C� CL� /G@OmF}JCep� oBLF� eWLDEI� F� BGSKm� CL4R?FLWWJCe�m�oeF�FJDRLCJS�CGFmK?@?�OeKJ'

#� n������"������

:L�oLQCLH�@J�oeRJ�K?�RJDE?NLKL�qkZZ'�<mKH?K\WJ�F�6LBNLEJpOjB�PGRGCJS�TFmRICJF�EJH�DEBmRIMmFp�\Om�H?EmRJ�SEJ�KLRm�CL�DHmKe� EGBGCJp� L� ELO?|� KG\OJH� @mDMGFJH�*� KR\� DL@??o?B?CCJHOe}mF'�P�CL@J�S�?F�m�OjB�7?@LC'

<�DGRm�0LELBJ�@J�TeDEBmRJ�NmKF?Kep�\OL�NBJFGTRL�NB?OeB?BL�*D?oLW?Q?�oBLEL�EL�OmRIO?H�GCOLFGKJDEmF'�6jB�7?@LC�DNJELF�FmTCJOLpKG�NB?OeB?B'�<mTCJO�FmKN?FmFp�}?�NB?OeB?B�Nm�?F�eCJT�DGR?@'

0J@� WLD?@� NB?OeB?B� TLH?FLFD\� TL� NLBOLCp� NmKDReHeUWJB?T@?Fep�L�N?Em@�OBJOCeFg��7eOJ�FFGBH��0J�OE?�ELO?S����*�mDNB\@eFLF�KeR?�LFE?@LEL�NB\@?�F�QBeKJ�OjB?Fm�7?@LC?Fm'��=JQ?DN?KLBmp� }?� H?KJRJ� K?� WJELRICm� CL� To?BJ�p�*� FmKN?FmFO?@LCKJB'� 8RG� NB?OeB?B� EBJ@LF� KLRm� LFE?@LE� m� CG� KLFOjB?Fm�7?@LC?Fm�TC\EJ�NGBGFm�GCG�WGBGT�NRGWG�=2'�0J@�WLD?@To?Oe� ?KJC� T� CL�JH� DEBmRIMmF� N?FLRJF� OBmD?FJ@� N?DEBmR?@NB?OeB?BL'�cCOLFGKJDEJ�OJCeRJ��BLCLEep�N?BLCJRJ�DEB'�<?FWeBLm�N?FEmOLRJ'�7LCGC?Q?�DEBmRIM\�@J�TLRJ�JRJ�F�?KC?@e�DGRm�CLRmOeFLCC\p�L�DL@m�N?KLRJD\�K?�=?CLDEJBM\'

X?RI�GFJOJ� DOL|GCmRJ� T� RUEm'� 5DUKJ� �eOLRJ� CLD� mB?TFmKeFLRJp�LRG�FDG�KLBG@C?'

#���������

XeRL� H?R?KCL� ?DmCI'�=?B?T� m�@B\OJ'�=J�OFLBEJBeFLRJ� F=?CLDEJBMm'� 4EBmRIMm� Nm�RJ� DNLEJ� K?� DE?K?RJ'� 6jB� 7?@LCp

.�Z

OjB�PGRGCJS�m�\�TLS�RJ�K?�HLEJ'�6?@LCKJBJ�R\QRJ�DNLEJp�L�\Bm|e�oLOeC'

<�CL�JH�RLFLH�*�CG�TCLUp�\OJ@�DN?D?o?@p�*�?NJCJFD\?KJC� CLKKCmNB\CGMIp� O?RJ�CmS� DELB�JCL� o?RI�GFJMIO?Q?RGEeCDEFL'�1KC?Q?�BLTe�\�DReHLF�S?Q?��NBJQ?KJ�'�1N?FmKLF�FmCp\O�NGBGH?KJF�~B?CE�EL�FBG�Em�TFL|JFD\jELOJ�NmEJ�F�B\KJ�CL�?Q?NmKNmRR\'�<mC�DH?FLFD\�K?�?KCmf��OLNRJMmp�\OL�DE?\RL�F�RmDm'�<�EmSOLNRJMm�NGBGoeFLF�EBJ�K?oJ�F�H?R?Km�S� Q?R?Km'�:L�WGEFGBEJSKGCI�TLRJ�JF�EL@�DF?��BGWm�S�22ap�L�DL@�Nm�?F�K?�NReQLELB\CL� N?RG'� 5T\F� FmK� Q?DN?KLB\� O?Cmp� ?BLFp� L� DGR\CJCL� NmDRLF� eDGR?� TL� HLBWL@J� KR\� CI?Q?'�2?FGBCeF�JDI� FmK� NReQLELB\� K?OLNRJMmp�e|G�CG�TLDELF�Cm�DF?�H�BGWGSp�Cm�22a'�0?Km�FmC�FGBCeFD\K?�Q?DN?KLB\p�F�\O?Q?�|JFG�K?Dm'

�I?@e�CLKKCmNB\CMGFm�DI?Q?KCm�OjB�PGRGCJS�KLF�TLNJDOeK?��HLBW?FJOL�p�}?o�NBJCmD�HLBWm'�:LKKCmNB\CGMI�FmKmS�?F'1KCL�DFmK?@L�|mCOL�?H?WG�FLBJRL�FLBGCJOJ�KR\�N?FDELCMmF'0LOp� OBLUWJ� oLOeCp� \� Ke@LFp� }?� |� NBJCGDG� CL�� TLjQ?EeFLRICJOp� o?� F|G� TQ?R?KCmFp� L� K\OeFLEJ� X?Qep� T� @GCG�CmFB?Oe�OeNL�HR?NL�'

0L� ?DI� CGDN?KmFLC?� FmKOBJRJDI� KFGBm'� <� HLEe� eFmS�RJCLKKCmNB\CGMI�m�KF?f�o?RI�GFJOmFp�L�EBGEmS�RJ�JFDI�CL�N?KFmB+�'X?RI�GFJOJ�@LRJ� CLQ?E?FRGCm� LFE?@LEJ'�:L�L� ToB?\� RG|JEITo?Oep� FDm� DNR\EI'��?� Tm� DEmSO?U��`� F@JEI� NBJNLF� K?� ToB?�pToeKJF�OjBL�PGRGC?Q?�m�OjBL�7?@LCL'�X?RI�GFJOJ�N?KLRJD\�EB?HJCLTLKp�}?o� OBL}G� oeR?� DEBmR\EJ'� 0L� CLKKCmNB\CGMI� FJE\QCeFNmDE?R\p�N?FGBCeF�S?Q?�CL�GCOLFGKJDEmF�EL�OBJOCeFg��dE?��0JoeKf��DEBmR\EI�KBeTfS���4fSWLD�FLD�N?DEBfR\U���X?RI�GFJOJFEGORJ'��\�N?Km\�@GCm�TKLRLDI�NmK?TBmR?U'�PLDNLCm�O?@LCKJBJCG�oeRJ�F�OeBDm�DNBLFJ'

�?SC?�@J� FJS�RJ� K?� RmDep� \O� Z�� o?RI�GFJOmF� ?E?WJRJCL�e�HLEep�TLLBG�EeFLRJ�|mCOep�\OL�FLBJRL�CL@��DEJ'�7?Te@CL|mCOL� TL\FJRLg� �2BJS�RJ�K?�@GCG� \OmDI� FmSDIO?Fmp� CLOLTLRJp}?o��@�FLBJEJp�m�\�FLBJRL'�:LOL|GEG�FJ�*�m�FL@�oeKe�FLBJEJ'PFmKOmRI�\�TCLUp�HE?�FJ�ELOmp�FmSDIO?Fm�m�FDG�'

2?�KF?H�B?OLH�NmDR\� DRLFC?�� RG@OmFDIO?�� ?KmDDG�� \� TC?FeTeDEBmFD\� Tm� DF?�@� OjB?@� PGRGCJ@�*� e|G� F� 5OBL�Cm'� <mC� oeFE?Km�BLS?C?FJ@�BG~GBGCE?@�4X�F�4ELB?DL@omB}JCm'�PGRGCJSB?TN?FmF� @GCmp� }?� E?S� CLKKCmNB\CGMI� oeF� o?RI�GFJMIOJ@L�GCE?@p�NmDRLCJ@�F�CL�m�RLFJp�}?o�KmDELEJD\�F�?DGBGK?O�FJ}?Q?

.�[

NB?F?Ke� m� EL@� FGDEJ� L�GCEeBCe� B?o?Ee'� <� O?FCmBm� F� CI?Q?TCLSKGC?�FD\Om��BJ~EJp�ORJWOJ�m�TLNJDOJ'

�W���W��W��Wr�����W�d]X���e

:GFK?FTm� CL�L� D?EC\� NGBGS�RL� K?� DGRL� bB?TI?FL'�=m|DEBmRIM\@J� N?\FJRLD\� DFGBoR\WOL'� `� NB?DEeKJF� D?om� omO'_?FGR?D\�RG|LEJ'�6jB�PGRGCJSp�B?TNeDOLUWJ�KG\OJH�DEBmRIMmFK?� DL@??o?B?CCJH� FmKKmRmFp� TFmRICJF� @GCG� m� DEB'� P?TeRU� TK?TF?R?@� FmKmSEJ� F� B?KJCCm� DE?B?CJp� }?o� ?BQLCmTeFLEJDL@??o?B?Ce'�aO?KL� @GCm� oeR?� N?OJKLEJ� Em� DE?B?CJp� KG� \FNGB�G�F�RLFLH�528�N?WLF�o?B?EIoe'�8RG�NmKDFmK?@?�ToeKJRLDIF�@GCG�?H?EL�N?F?UFLEJ�F�DF?�H�DE?B?CLH'�8�oJEJ�F?B?QL�oeR?TL�}?'

6?R?� DGRL�<?R\�=LMIO?FL�\�B?TReWJFD\� mT�P?TeRGU'� �2?\O?@eDI�WLDm�K?FmKLFD\p�}?�@mS�KBeQ�P?TeR\�TQJCeF�e�CLDO?Mmo?RI�GFJOmF� CL� TJ@?FJS� oeCOGB� F� �bB?@LKDIO?@e� RmDm�� O?R?DGRL�/?KJCLp�BjC�5DEBJOJp�F�RUE?@e�qkZ[�-'�_BeQ�P?TeR\�oeF�F528�FmK�qkZ��-'p�F�5:4�F�D?ECm�OjBL�6LB@GRUOL�'

R��TR�![_VlU��%�#VY#V!!V

U����p��'

:LBG�Em�NBJ�OLCKJoLF�\�K?�NB?FmKCJOL�X?BJDLj<JKBJ�FWGEFGBE?@e� CLKB'� �A?R?KCJS� `B�'� <mC� FJDRLF� @GCG� K?� DGRL:GEBGoOJ�CL�RmOeFLCC\�m�FmKN?WJC?O'�0eE�\�N?WLF�B?TFmKeFLEJNB?� BmKCG� DGR?� bReKC?� TL�4\C?@'� 0L@� TLRJ�JF� DELBe� @LEmBpKBeTmFp� \Om� ELO?|�@LRJ�o�?H?Ee�NmEJ�F�RLFJ�528'�0J@�WLD?@FmDEOJ�CLKH?KJRJ�De@Cm'�2?RIDIOm�oLCKJp�omRm�S�WGBF?Cmp�CLNLKLRJCL�CL�m�DGRL�TL�4\C?@�m�F?QCG@�m�@GWG@�NB?QLC\RJ�CLDGRGCC\CL� DHmK� T� S?Q?� NBLKmKmFDIOJH� TG@GRI'�=?f� DGR?�*� ?KCG� mTCLSDFmK?@m�JH�CL�@G|LH�5OBL�CJ'�<�CI?@e�TL�WLDmF�NLCeFLCC\2?RI}mp� H?W� \O� FL|O?� oeR?� FGDEJ� OeRIEeBC?j?DFmECU�NBLMUpOJNmRL� B?o?EL� CL� FDmH� KmR\COLH�|JEE\'� _e�GU� DGRL� oeF� @mSBmKCJS�DELB�JS�oBLEp�}?�FRJF�e�@?U�Ke�e�oGT@G|Ce�RUo?FK?� 5OBL�CJp� L� NB?FmKCJO?@�*�@mDMGFJS� @?R?KJS� DF\}GCJOp\O?Q?� N?RIDIOm� oLCKJEJ� FoJRJ'�:LB?KJR?D\� F� @GCG� oL|LCC\FJBFLEJD\�F�Em�DE?B?CJ'�8RGp�CL�|LRIp�F�E?S�WLD�\�CG�@LF�T�OJ@

.�Y

mEJp� m� CG� oeR?� O?@e� N?FGDEJ'� <mDEOJ� NB?�|?BDE?Om� N?RIDIOmN?QB?@J�DNBLFK|eFLRJD\'��?KGCC?�\�TeDEBmWLF�eEmOLWmF�T�RmF?Q?o?Oe�4\Cep�NGBGFL|C?�|mC?O�m�@LRJH�KmEGSp�o?�W?R?FmOmF�N?R\OJN?FoJFLRJ'� _e@LU� D?omp� Q?Km� E?omp�1RGOD?p� K?F�G� DN?WJFLEJpEBGoL�oBLEJD\�K?�B?o?EJ'

��p� d������o��e

1KC?Q?� KC\� \� TK?oeF� FmK� KF?H� GCOLFGKJDEmF� omR\� DGRLbBe�mFOJ� KFL�22_'�1KJC� FJoBLF� D?omp� m� FmKE?Km� FmC� �LFE?@LE22_� OBL}JS� FmK�22a�� DELF� @?fU� CGB?TReWC?Up� �O?HLC?UKmFWJC?U��*��NLNLKI?�O?U�'

XeFLf� F�|JEEm� ELOGp�}?� EJ� CLDELFR\f�� QBeKJp� BJTJOef�DF?�@�|JEE\@p�}?o�TK?oeEJ�OBL}e�ToB?U�EL�CGU�oJEJ�F?B?QLpL|� EeE� NBJSKG� E?om� \OJSDI� TFGBHCJOp� ?Ep� DOL|m@p� Oe}?FJSpBLS?C?FJSp�EL�S�ELOp�oGT�MGBG@?CmSp�FmKoJBLf����FmK�EGoG'�0L�\CG�ELOJSp�}?o�|LReFLFp�O?RJ�M\�RUKJCL�FLBEef�C?DJEJ�EF?UToB?U'�8RG�\O}?�C?DJEI����RJ�GCI�KR\�NLBLKJp�E?�OLBL�E?om�FmKCG�'�>�ELOG�oeR?�T�@?fU��NLNLKI?�O?U�'�XLQLE?�B?OmF�\�C?�e���pNGBGS�?F�T�CGU�2GBG@J}JCep�/G@OmF}JCep�4R?FLWWJCe�m�TC?FeNm�?F�CL�5OBL�Ce'�PL�MGS�WLD�oeR?�oLQLE?�L@LE?BmF�TLoBLEJ���pLRG�\�CmO?@e�CG�KLF'�<?CL�KFmWm�oeRL�DOB?NRGCL�@?fU�OB?F+U'

�X���Wi�r��'�� ����� ' �W�X��'

XeR?�MG�F|G�F�QBeKCmp�NGBGK�@?�@�FmKH?K?@�K?�?H?B?CC?Q?FmKKmRe'�1KC?Q?�KC\�CLKRGEmF�e�O?K|GCJSp�T�B?ToJEJ@�OBJR?@pL@GBJOLCDIOJS�RmELO'�P�CI?Q?�TmDO?WJR?�OmRIOL�RmEeCmFp�L�@L�JCLN?RGEmRL�F�CLNB\@m�XmBWm'�<�E?S�DL@G�WLD�CLKomQ�FmKKmR�W?E'�ABmCL'=J�NmS@LRJ�?KC?Q?�NLBL�eEJDELp�LRG�E?@ep�}?�T�CLD�CmHE?�CGF@mF� T� CJ@� B?TQ?F?BJEJD\p� S?Q?� TLoBLRJ� CL� DGR?� /\HLFep� LW?E'�ABmC�DNB?FLKJF�T�DGRL�_?oB?���L@GBJOLCMmF�p�WGBGT�\OJHN?B?Te@mFD\�T�CJ@'�4EBmRIMm�S?Q?�QLBC?�NBJSC\RJp�?N?FmRJ�NB?CL�e�o?B?EIoe�mp�CG�TLoJBLUWJ�CmW?Q?p�H?W�FmC�DL@��H�?oKLBeFLFpNmKFGTRJ�NmK�DGR?�XmBWe�m�FmKNeDEJRJ'�6?RJ�NLBL�eEJDE�N?NLF�F@?DO?FDIOm�S�N?RIDIOm�BeOJp�S?Q?�N?oJRJp�N?QBLoeFLRJ�NGBDEGCmpK?R\BJp�OJCeRJ�F�EUB@ep�OL|eWJp�}?�MG�Cm@GMIOJS��NJQeC'

_BeQJS�RmEeCp�OLNmELCp�eOBL�CGMIp�FNLF�omR\�DGRL�X?BmFCJMmCL�N?Rmp�L�TeDEBmF�J�DGR\CJCLp�DOLTLFg��`�OLNmELC�L@GBJOLCDIO?�

.�n

LFmLMm�'� 4O?B?� TLFGKmEI� @GCG� K?� \O?Q?DI� DFmK?@?Q?� eOBL�CM\p}?o� \� @mQ� D?om� T� CJ@� N?Q?F?BJEJp� }G� TLOJ� @GCG� FmTI@eEIo?RI�GFJOJ�S�N?R\OJ�'

8RG�CLKomQRJ�?ToB?fCm�N?R\OJ�T�X?BmFCJMm�S�TLoBLRJ�S?Q?'2?� K?B?Tm� N?WLRJ� oJEJ� m� TLoJBLEJ� BGWmp� \Om� @LF� NBJ� D?om'� 5FmKN?FmKI� CL� MG� FmC� OBJWLF� K?� CJHg� �=LB�� FmK� @GCGp� DFJCGN?RIDIOLp� EJ� TCLf�p� HE?� \�� `� OLNmELC� L@GBJOLCDIO?�� LB@m��'V?Q?�NmTCm�G�FmKDELFJRJ�K?�XmBWm'�XeF�MG�K?oBJS�LB�e@GCE�CLK?OLT�E?Q?p�HE?�ELOm�o?RI�GFJOJ�EL�\OL��HC\��KG@?OBLEm\�'

0BGEmS�RmEeC�eNLF�omR\�@mDEL�XmBWmp�L�mC�m�NB?NLRJ�oGTFmDEJ'

\� ����'��� �&��������n�����W����

1KC?Q?�KC\�@GCG�N?ORJOLF�NB?F'�X?BJD�m�CLOLTLF�T+\FJEJD\K?�NB?FmKCJOL�2LDEGBCLOLj4ELB?Q?�F�EBGEI?@e�BjCmp�KG�\�@LFNGBGSEJ� K?� ?H?B?CC?Q?� FmKKmRe'� _?� ?H?B?CC?Q?� FmKKmRe� NBJjfKCLFD\�\�CL�NBJDmROe�7?NLp�}?�CLRG|LF�K?�DGRL�XBJ|LFJ'�0eEF�HLEm�bLCm�TLNmTCLFD\�T�NB?F'�2LDEGBCLO?@�m�o?S?FJOL@J'�4ORLKFmKKmRe�oeF�ELOJSg�7?@L�O?��T�2GBG@J}JCJ�p��eB��T�5RUWL�pOeR'� P?B\CJS� �T�6?@LCWm�p� _BLNLO� �T�ALBOmF}JCJ�p� /GEeC� �T<?R?K|L�p�A?R?KCJS�m�9|��T�2LFR?O?@J��m�b?BKJS��T�`FmBCJOL7eDIO?Q?�'

6?@LCKeFLF�MJ@�FmKKmR?@�K?CGKLFC?�b?BKJS��T�DGRL�ALReNOJpBjC�AJBmF�p� LRG� E?@e�}?� FmC� oeF� FGRJOJS� o?\QeTp� KLB@eFLF� mKe@LF�EmRIOJ�NB?�DF?��mCEGBGDJp�S?Q?�TFmRICJRJ'�0GNGB�O?@LCKJjB?@�oeF�/GEeCj/GEUWJSp�\OJSp�NB?EGp�CG�F@mF�KLEJ�D?om�BLKJ�eFJO?CLCCm� ?o?F+\TOmF'� PLH?KJR?� NJELCC\p� HE?� oeKG� C?FJ@O?@LCKJB?@'�=m|�CL@J�FmKBLTe�\�TLNBJ@mEJF�oBLO�FmSDIO?F?Q?N?B\KOep�OLBC?DEJ'�2B?�FJH?FLCC\�m�FJ�OmR�DEBmRGMEFL�CmHE?�CGKe@LF'�1E�H?KJRJ�T�DGRL�K?�DGRLp�LoJ�T+�DEJp�EL�S�CL�E?@e�OmCWLRLD\FD\�B?o?EL'��G�oeR?�@GCm�CG�N?�Ke�m�S�CG�N?�CLEeBm'

2?RIDIOm�oLCKJ�F|G�NGBGOJKLUEID\�CL�NBLFJS�oGBGQ�4\CepLELOeUEI� CL�m� DGRLp� oGTOLBC?� QeR\UEIp� eoJFLUEI� RUKGSpQBLoeUEI�@LSC?p�O?Cmp�O?B?FJp�NLR\EI�HLEJ'�4OLTLEJ�}JB?p�FE?S�WLD�e�FDmS�2GBG@J}JCm�CG�oeR?�DJRJ�T�CL�?Q?�o?Oep�\OLFO?B?EJRL� o� QeR\CC\� oLCK'� 6?RJDIp� F?DGCJ� qkZZ� B?OepNGBGH?KJRJ�EeE�D?ECm��NGBGFL|C?�F�RmDLH�0eBCJMmp�̀ @C?�p�0BmSMmp0B?DE\CM\�� O?@LCKJBmF� bB?@GCOLp� A?@Jp� d?BC?Q?p�1DJNL� SmC�m'� <?CJ� TFGRJ� OmRIOL� o?�Fp� L� NmDR\� FGRJO?Q?� Rm}LFDIO?Q?

.�w

MmR?KGCC?Q?�o?U�@mDMGFJH�HR?NMmF�TKG@?omRmT?FLC?p�L�mC�m�W?EJNm�RJ� F� 5OBL�Ce'�:LDGRGCC\� DL@?WJCC?p� F� ?o?B?Cm� FRLDC?Q?|JEE\p� ?BQLCmTeFLR?� ToB?SCe� ?o?B?Cep� LRG� F?CL� CG� @LRLFmKN?FmKCJH�RUKGSp�}?o�CGU�OGBeFLRJ'

#��o��rX���Wi�r�i���� '���W��'

1KC?Q?� KC\� CL� NBJDmR?O� 7?NLp� K?� HLEJ� bLCmp� NBJS�?FNB?F'�2LDEGBCLOj4ELBJSp�L�T�CJ@�}G�?KJC�FmSDIO?FJSp�O?R?���B?OmF'�_BeTm�o?S?FJOJ��GNCeRJ�@GCmp�}?�MG�W?E'�ABmC'�<mCoeF�?K\QCGCJS�F�Cm@GMIOe�eCm~?B@ep�N?KmB\FRGCe�CL�BeOLFLHpNRGWLH�m�QBeK\H'�A?W�?K\Q�oeF�DELBLCC?�N?TL�JFLCJSp�FmKBLTeFJKC?�oeR?p�}?�N?KmB\FRGC?�S?Q?�OeR\@J'�2BLFL�BeOLp�MmRO?@oGTFRLKCLp� oeRL� NBJF+\TLCL� K?� QBeKGSp� L� KBeQL�*� RGKFG�}?KFJQCeRLD\� CL� NBJFmELCC\'� <mC� oeF� DEBeCOJSp� CL� RJMmDeH?BR\FJS'�1Wm� oJDEBmp� BeHJ� FmSDIO?Fm'�:L� C?Dm� S� CL� eDELH�BL@Jp� T� \OJH� @?|CL� oeR?� DeKJEJp� }?� FmC� F|G� K?oBGHBGDEJFD\� F� o?U'� <� EGBGCm� NB?� CI?Q?� CLDGRGCC\� �JB?O?Q?F?BJR?p� RUoJR?� S?Q?� m� N?FL|LR?p� o?� TL� WLDmF� NGB�?�o?RI�GFJMIO?�� ?OeNLMm�� oeF� EeE� KJBGOE?B?@� �O?RJp� L� TLCm@GMIO?�� ?OeNLMm�� *� F?R?DCJ@� FmSE?@'� PL� NmKNmRIC?jBGF?RUMmSCe� B?o?Ee� oeF� OJCeEJS� K?� �GDELNmFDIO?�� F+\TCJMm'4RLFe� TK?oeF� D?om� F� o?U� T� o?RI�GFJMIOJ@J� ELCOL@Jp� NBJW?@e�oeF�BLCGCJS�F�?oJKFm�BeOJ'

2B?F'�4ELBJS�oeF�KG}?�FJ}JSp�T�O?B?EOJ@Jp�BeKLFJ@JFeDJOL@J�NmK�C?D?@p�EB?HJ�B\oJS�CL�RJMm'�XeF�FGDGRJSp�H?WCG� e@mFp� LRG� RUoJF� DNmFLEJp� RUoJF� FmSDIO?'� <� EGBGCm� oeFELO?|� FmK?@JSp� o?� TL� WLDmF� Cm@GMIO?�� ?OeNLMm�� oeFO?@GCKLCE?@� eOBL�CDIO?�� N?RmMm�� F� XmBWm'� :GFK?FTm� NB?F'2LDEGBCLO�TB?oJF�TomBOe�m�DOLTLF�CL@g��<mK�DI?Q?KCm�FL�J@O?@LCKJB?@� oeKG� W?E'� ABmC'� <J� CLNGFC?� NB?� CI?Q?� WeRJpNB?�WGEFGBEe�W?Eep�}?�ELO�DRLFC?�oJRLDI�T�o?RI�GFJOL@J�F/m}LFm�b?Bm�CmS'�4ReHLSEG�S?Q?p�FJO?CeSEG�CLOLTJp�m�MG�oeKGFL�?U�TLN?BeO?U�eDNmHe�F�@LSoeECI?@e�'�2?Em@�TFGBCeFD\K?�W?E'�ABmCLg��<L@p�KBe|G�W?E?FJSp�NGBGKLU�MJH�o?S?FJOmFpTB?omEI�T�CJH�FmSDIO?�m�K?oJSEGD\�eDNmHmF�F�NBLMm�EL�o?B?EIomT�F?B?Q?@�'�2mDR\�E?Q?�@J�DmRJp�L�N?�?omKm�NB?F'�2LDEGBCLOFmKmS�?F'

.�k

R o�W

4N?WLEOe�@J�CG�FGRJ�|?KC?��B?o?EJ'�6mRIOL�KCmF�H?KJRJFmK�DGRL�K?�DGRLp�FGRJ�B?TFmKOep�L�CL��O?@LCKJB�TCLS?@JFD\�TEGBGC?@�m�o?S?FJOL@J'�1KC?Q?�KC\�FmC�TB?oJF�TomBOe�m�DOLTLFg�_BeTm��`�H?We�@LEJ�FmSDIO?'�8o?�@J�oeKG@?�|GoBLOL@Jp�Lo?F?\OL@J'�<JoJBLSEG�?KCG�T�KF?H�'�=J�FDm�DOLTLRJp�}?�H?WG@?oeEJ�F?\OL@J'�5�FmKN?FmKI�CL�MG�CL��O?@LCKJB�NB?FLKJF�KLRmg�`O}?� ELOp� E?� @J� @eDJ@?� NGBGSEJ� N?RmEJWCJS� m� FmSDIO?FJSFJ�OmR'�`�H?We�@LEJ�mKGSCJHp�N?RmEJWC?�FJB?oRGCJH�o?S?FJOmFtFJ�O?RGCJHp�FmKFL|CJHp�HLBLOEGBCJHp�OLBCJH�m�Q?E?FJH�CL�FDGo?S?FJOmF'��?o�ELOJ@J�oeEJp� EBGoL�CL@�eWJEJD\p�NBLMUFLEJCLK�D?o?Up��O?RJEJDIp�L�MG�FJ@LQLf�EBeKe�'

<mK�E?Q?�KC\�@J�NB?E\Q?@�KF?H�EJ|CmF�KmDELRJ�K?oBG��N?OeR\H�'�2mFKC\�EG?BGEJWC?Q?�FJ�O?Rep�L�NmFKC\�*�NBLOEJWC?Q?'6?@LCKJB� FJORLKLF� CL@� N?RmEJWCe� ?oDELC?FOe� F� DFmEmp� @GEeCL�?��o?B?EIoJp�B?TN?FmF�NB?�5<1p�15:p�5b<7t�FJFWLRJ�KG}?T�mDE?Bm��m�QG?QBL~m��5OBL�CJ'�2BJ�E?@e�@J�NJDLRJ�D?om�O?B?EOmRGOMm��T�N?RI?F?��m�FCeEBm�CI?��DRe|oJp�ToB?fTCLCC\p�B?TFmKOJpL�}?o� NmTCLEJ� NLBEJTLCDIOe� ELOEJOep� WJELRJ� �A?R?KCJS�`B�b?BDIO?Q?�S� mC�m�OCJ|OJ'

6?RJ�@J� FDm� NBJS�RJ� F|G� K?�~?B@Jp� O?@LCKJB� TB?oJFTomBOep�NB?@?FJF�OmRIOL�DRmFp�N?K\OeFLF�CL@�TL�EBeK�m�DOLTLFg�8�EGNGBp�KBeTmp�SKG@?�CL�FmSCe�'

U�����������o�� �W��X���W�`X'iW

:L�N?R\H�omRmF�e|G�DCm|?O'�XeF�DJRICJS�@?B?T'�_?�CL�?Q?FmKKmRe� K?ReWJR?D\� OmRIOL� HR?NMmF� Tm� DGRL� /\HLFJ� m� FmKKmR4?B?OLE?Q?�T�/G@OmF}JCJ'�5D\�QBeNL�N?KLRLD\�TL�4\C'�`OBLTE?Km� FJDGR\RJ� DGR?� bRe@We'� 2?RIDIOL� @mRmMm\� TmQCLRL� oLQLE?NmKF?Kp�L�F�KF?H�HLELH�OFLBEJBeFLRJ�GCOLFGKJDEJ�*�FJDGRGCWLO?@mDm\'�<Dm�@J�FoBLCm�F�N?RIDIOm�eCm~?B@J'�4?E'�ABmC�N?\DCJFCL@p�}?�SKG@?�NmK�@LBO?U�N?RIDIO?��N?RmMm��TCJ}JEJ�FJDGRGCWeO?@mDmUp� DNLRJEJ� HLEJp� T� \OJH� F|G� FJ�HLR?� CLDGRGCC\p� mB?TmQCLEJ�TmQCLCm�NmKF?KJ'

7?o?EL� Nm�RL� RGQO?'� <mK� =BJQR?KL� CL� TLDELFm� oeFOeR'� P?B\CJSp� L� FmK� DGRL� 6mCDIO?Q?�*� P?TeR\p� \OJS�}?SC?K?ReWJFD\�K?�FmKKmRe'�b?R?FCL�QBeNL�CLDO?WJRL�CL�o?RI�GFJOmFp

.Z�

N?oJRL� �Hp� DNLRJRL�HLEJp� L�O?RJ�F�=BJQR?Km� TWJCJFD\� LR\B@pP?B\CJS� NeDEJF� EeKJ� OmRIOL� DGBmS� T�=�jZ.� m� CL� ?DFmWGC?@e@mD\MG@� Q?DEJCMm� FJNLKO?F?� FoJF� o?RI�GFJMIO?Q?� OLNmELCL'1KJC�BLCGCJS�o?RI�GFJOp�}?�FB\EeFLFD\� FEGWGUp� F@JBLUWJDOLTLFp� }?� E?� oeRL� @mRmMm\� T� =BJQR?KL� m� FmC� DL@� NmTCLFO?@GCKLCEL� Emf�� @mRmMm�'� :L� NmKDELFm� MI?Q?� TmTCLCC\� :6<_LBG�EeFLR?�FDU�@mRmMmUp�O?R?����?Dmo'

]W��X�!Wx��W�`��Wo�W�

P�OmCMG@�QBeKC\�m�F�NGB�m�KCm�DmWC\�qkZ[�B?Oe�O?@LCKJBN?omRI�JF� CL�� FmKKmRg� NBJSC\F� d@GR\� �T�=LR\FJ�p� _G@L� mX?QKLCL� �T� XBJ|LFJ�p� dGBGNL� �T� /\HLFJ�p� `BL� �T� /eWJCGMI�pXJDEB?Q?� �T�/m}LFJ�_?Rm�CI?��p�PLE?Oe� �T�/m}LFJ�p�PLRmTC?Q?�T� /m}LFJ�_?Rm�CI?��p�2JB?QL� �T� /\HLFJ�� m� KF?H� DR?FLOmF�*>R@ep�L�NDGFKL�KBeQ?Q?�CG�NL@+\ELU'

:L��FmKKmR� CLRmWeFLF� .�� ?Dmo'�2GB�JS�BmS�@LF�PLRmTCJS�o'� B?S'� T� WGEFGBE?�� W?EJ� ABmCL�p� KBeQJS�*� d@mRI'� 2GBGK7mTKF\CJ@J�DF\EL@J�@J�N?KmRJRJDI�CL�KFm� QBeNJ�T�TLFKLCC\@NB?WJDEJEJ�EGBGC�FmK�DGOD?EmF'�2GB�JS�BmS�T�O?@LCKJB?@�Nm�?Fe�CLNB\@m�DGRL�/m@C?�p�L�KBeQJS�BmS�@LF�N?B\KOeFLEJ�F�?O?RJM\H=LR\FJ'� 5� DF\EL� H?KJRJ� T� O?R\K?U� N?� B?KJCLH� N?FDELCMmF� mCL�JH� DJ@NLEJOmF'

�G� oeR?� �� Lo?� [� DmWC\� qkZ[� -'� 5NLRJ� FGRJOm� DCmQJ'� XeFDJRICJS�@?B?T�m�FmEGB'�=LB�eFLEJ�FL|O?'�2?�K?FQ?@e�@LB�m@J�FmKDeCeRJD\�CL�DGBGKJCe�K?Rm�CI?Q?�OmCM\�/m}LFJ�b?Bm�CI?�'=m|�OmRIO?@L�oeOL@J�F�N?EmWOe�TeNJCJRJDIp� L�B?S'�PLRmTCJSTLDO?WJF� K?� HLEJ� N?� mC~?B@LMmU'� 0J@� WLD?@� O?@LCKJBTLNBJ@mEJF�F?B?|e�TLDmKOe�m��GNCeFg��:L�DELC?FJ}L��<?Q?CI��PLDO?WJEJ�K?�PLRmTC?Q?�F|G�CG�oeR?�WLDe'�:L�NBGFGRJOG�KJF?pe�CLD�DEBmRJF�EmRIOJ�OBmD�_BLNLOL�*�FD\�ToB?\�ELO�TL@GBTRLp}?�Cm�Be��TL@OJ�CG�QBLUEI'�<NLRJ�F?B?|m�N?DEBmRJ�CL�PLRmTC?Q?m� F�CL�?@e�CLNB\@m'�=J� TRJFLf@?� LFE?@LEJp� mKG@?� F�CLDEeNpLRG�N+\EJOBLEC?�omRI�JS�F?B?Q�FmKoJFLf�S?Q?'�=J�FmKDEeNJRJCL� Q?Be'�6?@LCKJB�DOLTLFp�}?�@eDJ@?�N?@DEJEJD\�TL�D@GBEIB?S'� PLRmTC?Q?p� m� @J�}G� BLT� mKG@?� F� CLDEeN'� _?� B?o?EJ� F|GDNBLFCJS� CL�� �KGHE\B�� m� NBJQ?E?FLCm� CLo?�� ��eDoGHGBL�'2?R\OJ�T�XmBWm�TLNLRJRJ�HLEe�=JHLSRL�0?FLBCJMIO?Q?p�TLBmTLRJS?Q?�@LEmBp�KBe|JCe�m�FL|O?�N?BLCJRJ�oBLEL'�4JRICJ@�F?QCG@

.Zq

@J� o+f@?� N?� oLCKJELHp� L� XJDEBJS� N?DJRLf� �@� �BLCLEe� TL�BLCLE?U'�2?R\OJ� N?WJCLUEI� eEmOLEJ'�:LD� DG@GB?� NB?QCLR?O?R?�D?B?OL�N?R\OmF'�=J�@LRJ�?KC?Q?p�L�F?B?Q�EBI?H�eoJEJ@J'2?� o?U� KF?HFJRJCC?U� @?FWLCO?U� F�LCeFLRJ� NL@+\EIB?S'� PLRmTC?Q?'� XJDEBJS� m� _BLNLO� KmDELRJ� N?HFLRep� L� _G@�*CLQLCe'�=?B?T�oeF�ELOJS�DJRICJSp�}?�CL�eDELH�TL@GBTLRL�DRJCLpL� DCm|JCOJ� @GBGHEmRJ� F� \DC?@e� DFmERm� @mD\M\'� 2BJ� OmCMmO?@LCKJB�DOLTLFp�}?�@J�@eDJ@?�N?@DEJEJD\�TL�D@GBEI�CL�?Q?KBeQL'

2?R\OJp�@LUWJ�FEBLEJp�TL�OmRIOL�KCmF�NBJS�RJ�K?�/m}LFJb?Bm�CI?�p�DNLRJRJ�}G�OmRIOLCLKM\EI�HLEp�?QBLoeFLRJ�MmRG�DGR?pFL|O?� N?oJRJ� ?EM\��GK?BOGFJWLp� K\OL�:LSKeHL� m� KJBGOE?BL�O?RJ�4EGNLCL�6BGCEe'�2mTCm�G�KJBGOE?BL�TLoBLRJ�Tm�D?o?UpN?RL@LRJ�BeOJ�S�C?QJ� m�F�/m}LFm�_?Rm�CmS�OJCeRJ�e�F?Q?CI'<mCp�e@JBLUWJ�F�?QCmp�OBJWLFg��/UKJp�\�F@JBLU�TL�5OBL�Ce��

�Wr��p�W� ��p��

2mDR\� MI?Q?� o?U� @J� TLFGBCeRJ� CL� /\HLFe'� <� EGBGCmN?\FJRJD\� F?B?|m� QBeNJp� N?RIDIOm� S� o?RI�GFJMIOm'� :L� DL@mDF\EL�@J�H?KJRJ�T�O?R\K?U�F�DGRLH�_?oBL�m�/\HLFL'�:LDGRGCC\NBJS@LR?�CLD�Ke|G�BLK?'�<DUKJ�WLDEeFLRJp�L�CL@�K?�E?FLBJDEFLNBJDELR?�oLQLE?�@?R?Km�S�DELB�JH�Q?DN?KLBmF�EL�DNmRIC?�T�CL@JH?KJRJ�T�O?R\K?U'�:LSOBL}G�Q?DEJRJ�CLD�Q?DN?KLB�6eRJO�ELQ?DN?KLB�bBJMI�CL�NBJDmROe�7?NL���H�TL�NmFB?Oe�N?@?BKeFLRJN?R\OJ�'��'''��NmKF?Kp�L�F�KF?H�HLELH�OFLBEJBeFLRJ�GCOLFGKJDEJ'

���W����������� �W�

XeR?�MG�TJ@?U'�bBeNL�N?RIDIOJH�oLCKJEmF�mT�DmR�/m}LFL�m6eTI@JCLp�W?R?FmO�.�p�CLNLRL�CL�K?Rm�CmS�OmCGMI�DGRL�/\HLFJpN?oJRL� m� N?QBLoeFLRL� RUKGSp� L� N?Em@� N?KLRLD\� CL� NBJDmR?O2mKRmDD\'� 6?@LCKJB� FT\F�@mS� BmS� m� CGQLSC?� N?omQ� CL� TLDmKOe'/G|LRJ�@J�F�DCmQe�Q?KJCep�KFmp�L|�C?QJ�TL@GBTRJ'�0J@�WLD?@oLCKJEJ�QeR\RJ�F�NBJDmROe'�=J�BLKJRJ�CLDEeNLEJp�LRG�O?@LCKJBCLOLTLF�}G�EB?HL�N?RG|LEJp�o?�TLDmKOL�KLDEI�CL@�omRI�JS�eDNmH'=JCeR?�TC?Fe�KFm�Q?KJCJp�L�F?B?Q�FDG�CG�SKG'�=J�N?o?UFLRJD\p}?o�N?R\OJ�CG�Nm�RJ�mC�?U�K?B?Q?Up�WGBGT�DGR?�6BGMmFp�E?|N?KLRJD\�RmD?@�e�CLNB\@m�NBJDmROL'�8�EJ@�WLD?@�oLCKJEJ�FJ�HLRJ

.Z.

T�NBJDmROL�CL�WJDEG�N?RGp�\OJH?DI�Y���@�FmK�CLD'�0?@e�}?�@JomQRJp�F�O?|C?Q?�KBJ|LRJ�BeOJ�T�eE?@J�S�H?R?Ke'�=J�DJNCeRJoLBLoLCCJ@�F?QCG@p�OmRIOL�oLCKJEmF�N?BLCJRJp�L�BG�EL�N?OJKLRJOeBp�OB?RmFp�EGR\E�m�O?CGS�CL�N?Rm�S�N?FEmOLRJ'�<mK�E?Q?�WLDe�CL/\HLFe�F?CJ�F|G�omRI�G�CG�N?OLTeFLRJD\p�L�CLDGRGCC\�BLKmR?p}?�@Lf�DF?�H�?o?B?CMmF'

]W����������W�����`��r��

<|G�ELCeRJ�DCmQJ'�XeF�OmCGMI�oGBGTC\'�XLCKL�N?R\OmFp�O?R?Z���?Dmop�CLNLRL�CL�DGR?�bB?TI?Fep�NmKNLRJRL�OmRIOLCLKM\EI�HLEm�FoJFLRL�W?R?FmOmF'�=J�m�?KJC�BmS�46<�T�DGRL�/m@C?��FmKoeFLRJN?RI?Fm� FNBLFJ� O?R?�/m@C?�p� F� RmDm� T� o?Oe� bB?TI?FJ'� 7LCO?@NBJomQRJ�FEmOLWm�T�MI?Q?�DGRL�S�?N?FmRJ�|LHRJFm�BGWmg�f�EL@�KFmD?ECm�<2�m�N?CLK�.���oLCKJEmF�T�<?SEO?F?�p�/m}LFOJp�6eTI@JCJm�XmBWm'�1KCL�|mCOL�?N?FmRLp�}?�oLCKJEJ�F|G�TLDEBmRJRJ�OmRIO?HW?R?FmOmFp� KGF+\EI?@� CLOLTLRJ� �H� oJEJ'� 2?Em@� FmKF+\TeUEINBJF+\TLCJH� m� CL� T@mCe� CLOLTeUEI� �@� oJEJ� EJHp�}?� oJRJ� �H'6mRIOL�F|G�N?@GBR?�O?R?�DE?FNmF'

7LNE?@�@J�Wef@?�T�DGRL�DEBL�Cm�T?SOJ�m�OBJOJ'�6?@LCKJBABmC� ToJBLf�CLD�e� RLFep�NB?@?FR\f�OmRIOL� QLB\WJH�DRmF� m� OL|GN?DReHLEJ�Em�DEBL�Cm�T?SOJ�F�DGRm'��dJ�SKG@?p�HR?NMmp�oJEJ�F?B?QmFpWJ�Cm���*�DNJELF�E?Km'�=J�FDmp�\O�?KJCp�TLOBJWLRJg��VKG@?��

:LD�eDmH�BLT?@��n�W?R?FmOp�KFL�OeRG@GEJ'�6?@LCKJB�N?KmRJFCLD� CL� EBJ� QBeNJp�}?o� eKLBJEJ� CL� DGR?� T� EBI?H� o?OmF'�:L@TKLFLR?D\p�}?�CG�FDE?�@?�e�o?U�T�ELOJ@J�FGRJOJ@J�F?B?|J@JDJRL@J'� 8RG� oL|LCC\� DELEJ� F� ?o?B?Cm� CLDGRGCC\p� O?RJ� F?C?EGBNJEI� @eOJp� N?K?RLf� CLSomRI�?Q?� F?B?QL'� `� KmDELFCLSEBeKCm�G� TLFKLCC\g� FKLBJEJ� CL� K?Rm�CmS� OmCGMI� DGRLpTK?oeEJ�@RJCp�NGBGNBLFJEJDI�WGBGT�QRJo?Oe�BmOep�N?FCe�OBJQJm� DCmQe� mp� CG� TFL|LUWJ�CL� Cm}?p� EFGBK?�CLDEeNLEJ'�_R\�@GCGCLOLT�*�DF\EL�BmWp�m�\�NGB�JS�NmKDeCeFD\�K?�F?B?QLp�}?�N+\CJSFmK�?DOL|GCmR?DEJ�QLC\F�@m|�HLEL@Jp�CGCLWG�o?|GFmRICJSp�TLRUKI@J'

2?WLFD\�omS'�X+f@?�MmRICJ@�F?QCG@':LDEeNLEJ� FL|O?p� FDm� @J� @?OBm� S� ?HR\NLCm� o?R?E?@'

_BJ|J@?� FmK� H?R?Ke� m� HFJRUFLCC\'� 8@eCmMm�� CG��O?Kef@?p@Lf@?����CL�KFL�KCm�o?U'�:L�NGB�JS�@mS�F?Q?CI�F?B?QJ�EB?HJT@m�LRJD\p� L� KLRm� OmRIOLCLKM\EI� F?B?|JH� OeRG@GEmF� N?WLR?

.Z�

NRUFLEJ�F�@mS�omO'�7LNE?@�CL�F?B?QL�FKLBJF�OjB�ABmCp�TLSC\FRmD?Op�L�N?Em@�eDO?WJF�e�F?B?|G�?E?WGCC\'�<?B?Q�NmKE\QCeF�KFL�@LODJ@J�'� XmS� OJNJEI� CL�|JEE\� m� D@GBEI'� PKLfEID\p�}?� CGFKLDEID\� CL@� B?ToJEJ� F?B?QL'� _?� @GCG� NBJomQ� TF+\TO?FJS� TN?FmK?@RGCC\@� FmK� O?@LCKJBLp� }?o� HR?NMm� KLRm� � EFGBK?CLDEeNLRJ�S�eFL|LRJp�o?�DO?B?�NBJSKG�K?N?@?QL�T�`@C?�'�XmSE?WJEID\� e|G� OmRIOL� Q?KJC'� :L� NBGFGRJOe� BLKmDEIp� 1BLW� TOmRIO?@L�DEBmRIM\@J�FKLB\f�CL�TLKJ�F?B?QL�T�EBGEI?Q?�o?Oep�m}?SC?� EGNGB� F�S?Q?� RLFLH�N?WLFD\� oLRLQLC� m� NLCmOL'� XLCKL� m@mRmMm\�NLCmWC?�FEmOLUEIp�L�FmSDIO?�D\OjELO�FmKDEeNLf�T�F?QCG@'<?B?|m�EBeNJ�NRJFeEI�F?K?U'�7LNE?@�NBJH?KJEI�CL�K?N?@?Qe`@CL'�:G�FmB\WJ�F�EGp�}?�@J�F|G�TLSC\RJ�NmFDGRL�EL�}?�FmK�CLDeEmOLUEI�N?R\OJp�DL@??o?B?CL�`@C?��m�4X�2?ELNL�FKLB\UEI�N?CLD� m� N?R\OLH'��?o� CG� KmS�R?� K?� DeEJWOJ� @m|� CL�J@JpOjB�ABmC�KLf�CLOLT�FmKDEeNLEJ'

PL�D@mRJFJS�m�FKLRJS�CLDEeN�\�KmDELF�N?HFLRe'<�MI?@e�o?U�F?B?Q�@LF�.w�BLCGCJH�m�OmRIO?H�eoJEJH'�5�CLD

?KJC� RGQO?� BLCGCJS'�=J� FB\EeFLRJ� CG� ?KC?Q?� DGR\CJCL� FmKCG@JCeW?�� D@GBEJ'� <?B?Q� DNLRJF� OmRIOLCLKM\EI� HLE� m� FoJFOmRIO?H�DGR\C'

<mKE?Km�N?RIDIOm�oLCKJ�DELRJ�?oGBG|CJ@J'�4OBmTI�Q?F?BJRJp}?�CLD�oeR?�FmDm@�EJD\W'

PLFK\OJ�Km\@�CL�?��W?EJ�CL�MI?@e�FmKEJCOe�CLDELF�DN?OmS'0GNGB� Be�Lf@?� CL� KBeQJS� OmCGMI� BjCe� B?oJEJ� N?B\K?O'� _?CL�?�� W?EJ� K?ReWLfEID\�6LRJCL� �T�45P�p� 0?N?R\� m��eNLO� �T/m@C?��'

U��������������t

�G� CGFGRJOJS� NBJDmR?Op� }?� CLRG|LF� K?� DGRL� /m}LFLb?Bm�C\p� L� RG|LF� e� RmDm� CGKLRGO?� FmK� XmBWm'� 0eE� oeR?� OmRIOLoLCKJEmFp� \Om� FGRJ� B?TFmKOe� TL� CL�J@� BeH?@p� NGBGEBJ@eFLRJoLCKe�T�XmBWmp�\OL�CLK�DFmELCO?@�CLNLKLRL�CL�DeDmKCm�DGRL'�5FGWGBm@J� NmKDeFLf@?D\p� FKLB\f@?� F?QCG@� N?� DEmSO?FJHp� B?TQLC\f@?oLCKJEmF'�:L�TLKLH�e�CLD�N?B\K?Op�NBLFG�OBJR?�?WJDEJRJp�mKG@EGNGB�CL�TLHmK'

<� ?NGBLMm�� FmK� F?B?|?�� �BLCLEJ� oeF� E\|O?� N?BLCGCJS� FQBeKJ�X?QKLC'�<mC�Nm�?F�RmOeFLEJD\�DNGB�e�CL�/m@Cep�L�?NmDR\K?�DF?Q?�B?KJCC?Q?�DGRL'

.ZZ

��'��� ����������n���W��WX����

<�WGEFGBE?@e�BjCm�F�O?RmCm�4\Ce�QLBC?�?NGBeFLF�?H?B?CCJSFmKKmR�OjBL�1RGC\'�:GTFJWLSC?�DN?DEGBG|RJFJS�m�TKmoCJS�F?\OpFmC� TL� TJ@e� TB?oJF� OmRIOL� QLBCJH� DO?OmF� CL� o?RI�GFJMIOeB?TFmKOe'� /?FJEI� OmRIO?H� ?~mMGBmFp� L� @m|� CJ@J� FmK?@?Q?N+\ECLKM\EJRmECI?Q?� B?TFmKLWL�=LRGCIO?Q?'

P�/m}LFJ�_?Rm�CI?��DH?NJF�OmRIO?H�oLCKJEmF�NmK�@LBO?Uo?RI�GFJOmF'�:G?KC?BLT?F?�TLDmKLF�CL�o?RI�GFJMIO?Q?�NLBEJjTLCL�4RfN?Q?�T�X?BmFCJMm'

<�?KC?@e�CLDO?Mm�1RGCI�TLQJCeF�FmK�OeRm�FL|O?�BLCGC?Q?o?RI�GFJOLp�\OJS�FKLF�@GBEF?Q?'�2?DEBmR�T�NmDE?Rm�FNLFp�O?RJ1RGCI�CLHJR\FD\�NGBGFmBJEJp�WJ�E?S�CG�NBJWL�FD\'�6JCeRJDIK?�1RGC\�KBeTmp�EL�FmC�e|G�CG�|JF'

XeR?�MG�TJ@?F?��C?Wm'�1RGC\�N?H?FLRJ�F�B?KJCC?@e�DGRm'6?@LCKJB?@�DELF�XmD'

1KC?Q?� BLTe� OjB�1RGCI� H?EmF� NGBGHJEBJEJ�CL�?Q?� EGNGjBm�CI?Q?� O?@LCKJBLp� TR?FJEJ� S?Q?� F� O?�JO'� <GBELUWJDI� T?KCmf�� ?NGBLMm�p� N?WLF� NmKDeFLEJD\� DCmQL@J� K?� HLEJ� �CLXBG|mFDIOm@�p�KG�@J�OFLBEJBeFLRJ'�:L��DEmSO?FJSp�TLNBJ@mEJFj�Jp�}?�CLoRJ|LfEID\�CGFmK?@G�FmSDIO?p�TLLR\B@eFLFp�m�@J�FDmF�omRJH�@LDO?FOLH�FJN?FTRJ�DCmQ?@�K?�RmDe�EL�TB?oJRJ�TLDmKOe'6?RJ�CGFmK?@m�N?WLRJ�CLoRJ|LEJD\�K?�HLEJp�@J�NGB�m�N?WLRJ�H� DEBJ@eFLEJp� L� OjB�1RGCIp� N?oLWJF�Jp�}?��EeOL� S?@e� CGFKLRLD\p� N?WLF� OBJWLEJg� �:G� DEBmR\S�� 0eE� 1RGCI��� 6L|GNBJ@?FOLp�}?�OBeO�OBeO?Fm�?WGS�CG�FJKTI?oLfp�LRG�ELO?|�FL|O?HJEB?@e� HJEB?Q?� NGBGHJEBJEJ'

_e|G��O?KeFLR?�TL�KBeQ?@�1RGCG@�CLDGRGCC\�EJH�DmRp�F\OJH�FmC�?NGBeFLF'

������ ��`��'����

2mTCI?U�?DmCCU�NBJS�?F�F�XmBWLC}JCe�ELO?|�D?E'�bB?@GCO?pL�TL�D?o?U�NBJNB?FLKJF�O?R?�qY�DEBmRIMmF'�PJ@?U�N?WLF�?BQLCmTeFLEJ?o?B?Ce� F� ?O?RJM\H� `FmBCJOL� 7eDIO?Q?'� <� E?S� DL@JS� WLD� ToLCKJEDIO?��EFGBKJCm�*�X?BmFCJMm�CLNLKLRJ�CL�CL�m�DGRL�oLCKJEJpNLRJRJp�QBLoeFLRJp�eoJFLRJ'�<mC�B?oJEI�OmRIOL�TLDmK?Op�LRG�\O?DI}LDE\�CG�@LF'�<?B?Q�CL�CJH�CG�CLRLTJF'�1KC?Q?�BLTe�m�@J�H?KJRJCL�TLDmKOe�F�RmD�omR\�DGRL�XBJ|LFJp�LRG�F?B?Q�m�EeE�CG�N?OLTLFD\'

.Z[

������� ������W�� ��[���

<�EBGEI?@e�BjCm�NB?FmKCJO?@�oeF�DR'�N'�K'��BO?'�<mC�oeFCJTIO?Q?�TB?DEep�Ke|G�mKGSCJSp�DL@?eO'�1KC?Q?�BLTep�NBJ�OmCMmTJ@Jp� NBJ�HLR?� KFm� EJD\Wm� o?RI�GFJOmF� �WLDEJCJ� �WGBF?C?�@mERJ��� CL� ?oRLFe'�=J� E?Km� OFLBEJBeFLRJ� CL�/\HLFm'� 7LNE?@N?oLWJRJ�T�Q?BJp�\O�BLCCm@�BLCO?@�DCmQL@J�N?WLRJ�NmKDeFLEJD\o?RI�GFJOJ�F�CLNB\@m�NBJDmROL�<?R\p�FmK�CLD�TL�RmD?@�CL�NmFCmWCL� NB?EJRG|CmS� Q?Bm'� 6?@LCKJB� OBJOCeFg� �4O?B?� TLoJBLEJToB?U��<KLBJ@?�o?RI�GFJOL@�N?� TLKLH�'�A?EmF�NGBG�O?KJEJ�@p�}?o�CG� ?E?WJRJ�NBJDmR?Op� KG� oeRJ�NB?F'��BO?� EL� OmRIOLDEBmRIMmF� D?E'� bB?@GCOL'�=LF� CL@mB� eKLBJEJ� N?� TLKLHp�}?oN?E\QCeEJ� o?RI�GFJOmF� TL� D?o?U� WJ� DELEJ� F� NBJQ?KmNB?F'��BO?Fmp� O?RJ� E?S� oeKG� NB?BJFLEJD\� K?� RmDe'� 1KCLOTFGBHCJO�CL�?Q?�O?@LCKJBL�NB?F'�4ELBJS�CL�EG�CG�N?Q?KJFD\'

0J@�WLD?@�CL�Q?Bm�N?WLFD\�omSp�OmRIOL�N?FDELCMmF�eNLR?p�LBLCGCJS�NB?F'��BO?�NB?BFLFD\�m�N?omQ�F�CLNB\@m�RmDep�DL@G�FEG� @mDMGp� KG� @J� @LRJ� WGOLEJ� F?B?QL'� 0L@� CLTK?QCLRJ� S?Q?o?RI�GFJOJ�S�eoJRJ'�:L��O?@LCKJB�@LF�K?oBG�NGBGKWeEE\� mDO?B?�?BmfCEeFLFD\�F�DJEeLMm�'

U��_��X��

�G� Q?BL� m� NBJDmR?O� O?R?� DGRL� /JNJ'�1KC?Q?� BLTe� CLDH?EmRJ� ?E?WJEJ� o?RI�GFJOJp� LRG� @J� T� ?E?WGCC\� WJDEJ@N?RG@� NB?D@JOCeRJDI� CL� =LR\Fep� L� KLRm� CL� /\HLFe'X?RI�GFJOJ�Nm�RJ�DRmK?@�TL�CL@J�F�RmD'�6?RJ�MG�N?oLWJFO?@LCKJBp� FmC�CLOLTLF�@LB�eFLEJ�DEBmRGMIOJ@�B\KO?@p�o?F� ELO?@e� RLKm� TL� CL@J� NmKeEI� m� o?RI�GFJOJ'� 2?� ?KC?@eOmR?@GEBm�F�RmDm�CLOLTLF�N?FGBCeEJ�NmK�Q?DEBJ@�OeE?@'�=JFJS�RJ� CL� ?KJC� FGB�?Op� DELRJp� TLR\QRJ� m� WGOLf@?p� WJo?RI�GFJOJ� SKeEI� DRmK?@'� 0LO� m� f�� 4?EC\� DJomB\OmFN?DeFLRLD\�QeDEJ@�DEBmRGMIOJ@�B\KO?@�DRmK?@�TL�CL@J'�=J@?QRJ�DJNCeEJ�F?QCG@�N?�CJH�EL�FoJEJ�o?KLS�KGD\EI?Hp�LRGOjB�ABmC�TLo?B?CJFp�OL|eWJp�}?�DN?WLEOe�@J�oeKG@?�@LEJeDNmHp� LRG� NmTCm�G� F?B?Q� @?|G� ?E?WJEJ� CLD� m� @?|G� CLDTCJ}JEJ� F� QRJo?O?@e� DCmQe'�aFJKO?� TLomQLf@?� CL� F?B?|mTLKJ�m�EmfU�DL@?U�DEG|O?U�FGBELf@?D\�CLTLK'

6?RJ� oeRJ� \Om� omRI�m� ?oRLFJp� E?Km� NmK� CL�e� ?H?B?Ce

.ZY

ToJBLRJD\� BmTCm� NB?FmKCJOJ� m� BG~GBGCEJp� TCLUWJp�}?�@J� �HTLF|KJ�}LDRJF?�FJFGKG@?�T�eD\OJH�?oDELFJC'

=LRJ�@J�}G�oLQLE?�NBJQ?K�NB?E\Q?@�TJ@Jp�LRG��H�FL|O?D?om� N?� DEmRIO?H� RmELH� NBJQLKLEJ'�=J� B?oJRJ�}G� CLDO?O� CLoLCKJEmF� CL� NBJDmROLH�4J@?FJM\p� 7mWOLp� H?KJRJ� CL� ?o?B?CeDmR�6BGM?FL�m�2JRJ'

]W�����Y���W�

q��OFmEC\�@J�Q?EeFLRJD\�CLBG�Em�CLFWJEJ�B?Te@e�oLCKJEmFT�=BJQR?KLp�}?� TL� K?N?@?Q?U� F?\OmF� T� <2� NB?E\Q?@� eDI?Q?oGBGTC\�m�OFmEC\�}?KGCC?�CLNLKLRJ�CL�DGR?�_?oBe'�_mS�R?�K?E?Q?p�}?�F�DGRm�CG�TLRJ�JR?DI�Cm�?KCmf��OeBOJp�W?omEp�eoBLCC\*�m�DGR\CJCLp�}?o�CG�oeF�N?oJEJS'

4I?Q?KCm� OjB�ABmC�CL� TomBe� DOLTLFg� �`� TB?oRU�TLDmKOe�CLoB?Km�4\Ce�FmK�DGRL�bRe@Wmp�B?S'�1DEB?FGBH�oeKG�CLDEeNLEJ�CLNBJDmR?O�_?oB\COL�Sp�N?DEBmRUUWJp�FJE\QLEJ@G�N?R\OmF�T�DGRLpL�W?E'�4mBO?�oeKG�CLDEeNLEJ�T�PL@L�eBJ�m�QCLEJ�N?R\OmF�K?�4\Ce�'

4ELR?D\� ELOp� \O�@J� H?EmRJ'�2?R\OJp� N?WeF�J� N?DEBmRJ� TKF?H�DE?BmCp�N?WLRJ�T�CLQBLo?FLCJ@�@LSC?@�eEmOLEJ�F�CLNB\@moB?Kep� KG� �H� NBJFmELF� OeRG@GECJ@� F?QCG@� OjB�ABmC'� dLDEJCLN?R\OmF� mT� DEBLHe� N?WLRJ� EmOLEJ� CLTLKp� L� mC�m� HJEB?j@eKB?FH?NJRJ�F�DGR\C�omRm�NRLHEJ�m�N?WLRJ�FEmOLEJ�N?@m|�HLEL@J�CLNBJDmR?O�4J@?FJMU'�bBeNLp�}?�oeRL�CL�TLDmKMmp�Nm�RL�F�CLDEeNpK?QCLRL�N?R\OmF�CL�Q?Bmp�KG�F�Q?KJCC?@e�o?U�oeR?�eoJE?�EB?foLCKJEmFp�F�E?@e�WJDRm�OLNBLRL�:GCJWL�T�XGBG|LCp�?KC?Q?�FT\E?F� N?R?Cp� L� OmRIOL� BLCGCJH� eEmOR?'� 0eEp� CL� NBGFGRJOe� BLKmDEIeDmHp� o?S?FJO� XJDEBJS� m� OjB�ABmC� TK?oeRJ� OeRG@GEL'� <mKE?KmoLCKJEJ�F|G�NGBGDELRJ�CLNLKLEJ�CL�DGR?�_?oBe'�:LDGRGCC\�TFK\WCmDEU�BLKmR?�O?|CJ@�CL�J@�eDNmH?@p�Ke|G�}JB?�Q?DEJR?CLD�e�DGoG�EL�?oKLB?FeFLR?�WJ@�@?QR?'

7?TFmKOL�F�CLD�QBLRL�NGB�?B\KC?'�0?@e�}?�CLDGRGCC\�Ke|GRUoJR?�m��LCeFLR?�OjBL�ABmCLp�CLD�CLSOBL}G�NB?�FD\Om�N?Km��FEGBGCm�N?FmK?@R\RJ�m�EmRIOJ�K?�CLD�TFGBELRJD\�TL�K?N?@?Q?U'5Dm�NB?FmKCJOJ�EGNGB�TB?Te@mRJp�CL}?�@J�?BQLCmTeFLRJ�ELOJSFGRJOJS�FmKKmR'�6?RJDI�KJFJRJDI�CL�CLD�OBJF?p�CLFmEI�FGRmRJN?R?FJCe�B?TNeDEJEJp�LRG�EGNGB�TL�CL�m�eDNmHJ�CLD��LCeFLRJ�mN?FL|LRJp� L� CLDGRGCC\� T� TLH?NRGCC\@� m� oGT@G|C?U�BLKmDEUFmELR?�CLD�e�O?|C?@e�DGRm'

.Zn

���W����������� �W�'Wm����' ��� ���W�!Wx����Y�Wo�p

XLCKJEJ� T� XmBWmp� 6eTI@JCJp� <?SEO?F?�� S� 6?BmCM\pK?FmKLF�JDIp�}?�@J� Kmf@?� CLK�4\C?@p� CLNLRJ� F� WJDRm� ?KCmf�D?ECm�CL�DGR?�/m}LFL�b?Bm�C\'�XLCKJEJ�NBJ�HLRJ�T�NmKF?KL@JpQBLoeUWJ�FDGp�}?�N?NLR?�NmK�BeOep�NBJ�E?@e�N?oJRJ�O?R?�[�RUKGS'�=J�OFLBEJBeFLRJ�F�E?S�WLD�CGKLRGO?�F�RmDm'�6BJOJ�ST?SOJ�K?RmELRJ�K?�CLD'�6?@LCKJB�TB?oJF�TomBOe�m�N?�O?B?EGCIOmSNB?@?Fm�TLNJELFg��_BeTm��dJ�FJ�Q?E?Fm�DELEJ�F�?o?B?Cm�CLB?Ke�dJ� WefEG� FJ� T?SOJ� |mC?O� m� KmEGS�� <?CJ� WGOLUEI� FmK� CLDB\EeCOe���<Dm�TLOBJWLRJg��VKG@?��VKG@?��

dLDEJCL� oLCKJEmF� F|G� �HLRL� CL� <?SEO?Fe'�=J� TB?oJRJTLDmKOep� B?ToJRJ� oLCKJEmFp� FmKmoBLRJ� NmKF?KJ� T� CLQBLo?FLCJ@@LSC?@p�L�\�KmDELF�CLOLT�CLDEeNLEJ�CL�Q?Bm�CmS�OmCGMI�/m}LFJpKG�}G�Q?DN?KLBUFLRJ�oLCKJEJ�T�XmBWm'�̀ �NRUCeF�e�BeOJp�DEJDCeF�NLNLKI?�Oe��m�OBJOCeF�CL�DF?�H�HR?NMmFg��<NGBGK�CL�R\HmF��8oJS�oLCKJEmF��PL�5OBL�Ce��

`O�FJH?Bp�@J�FDm�N?QCLRJ�CL� DGR?'�<BJFLUD\�@m|�HLEJ� mN?WJCLU�NGBm}JEJ�N?R\OmFp�OeKJ�N?NLR?'�6?@LCKJB�TL�E?S�WLDTLoLCKL|eFLF� ?KC?Q?� CL�?Q?� Ke|G� DFmK?@?Q?� Q?DN?KLB\'� XeFMG�oLEIO?�DEB'�=eHJ�T�WGEFGBE?��W?EJ�ABmCL'�2?Em@�\�Tm�DF?fUQBeN?U�?omS�?F�N?R\OmF�FmK�BmWOJ�S�eKLBJF�T�~RLCQe'�2?R\WC\FEmOLfp� L|� RUo?� KJFJEJD\p� TLRJ�LUWJ� FDG� @LSC?p� L� CLFmEINmKF?Ke�T�OeRG@GEL@J'�0J@�WLD?@�KeBCJS�Q?DN?KLB�NmKF?KJ�NmKTLQB?T?U�N?R\OmF� �HLF� T�OmR?@GEB�N?TLKe�CJH'�`�N?omQ� L|�CL/m}LFe�_?Rm�CUp�}?o�CLTK?QCLEJ�MU�NmKF?Ke'�8RG�F|G�oeR?NmTC?'

:LB?K� BLKmF� m� NRLOLF� T� eEmHJ'�=J� B?TKLRJ� N?QBLo?FLCG@LSC?'

<� MI?@e� CLDEeNm� oBLRL� eWLDEI� ELO?|� DL@??o?B?CL� T� DmR/m@CL�*�/m}LFL�b?Bm�C\'

R� � ������X�����]��W�� ty

:L�TLHmK�FmK�XmBWmp�F�RmDLHp�RG|LR?�N?RIDIOG�DGR?�X?BmFCJM\pF�\O?@e�TCLS�R?�NBJEeR?O�O?R?�����oLCKJEmF'�:L�E?@e�EGBGCmoeR?�Ke|G�CGDN?OmSC?'��?KGCC?�QBeNJ�oLCKJEmF�CLNLKLRJ�CLCL�m�DGRLp�e�CLDRmK?O�W?Q?�T�KGD\E?O�DmR�CLN?R?FJCe�oeRJ�DNLRGCm

.Zw

�XBJ|LFLp�5RUWp�̀ FmBCJO�EL�mC�m�p�e�CJH�MmRO?FJE?�N?QBLo?FLC?HeK?oep� O?CGSp� Tom||\� S� eoJE?� O?R?� .��� @?R?KJH� HR?NMmF� mKmFWLE�*�eOBL�CMmF'

<� DGBGKJCm� OFmEC\� NBJ�HLF� OjB� 6?CJO'� :JTIOJSp� K?oBGToeK?FLCJSp� T� BeKLFJ@� FeDJO?@� CL� WGBF?C?@e� RJMmp� DL@DOB?@CJSp� EJHJSp� @LR?@?FCJS'�8RG� T� S?Q?� ?WGS�@?|CL� oeR?FJWJELEJp� }?� MG� @eKBJS� O?@LCKJB'� <mC� N?ORJOLF� K?� DGoGOjBL�ABmCL�m�K?FQ?�T�CJ@�}?DI�Q?F?BJF'�2B?�}?�S�RL�@?FLp�@JCG�TCLRJ'

qk�OFmEC\�CL�/\HLFe�NmKE\QCeRJD\�?H?B?CCm�FmKKmRJ�T�NGB�?Q?m�KBeQ?Q?�BjCmFp�W?EL�46<�NmK�O?@LCKeFLCC\@�/LDEmFOJ�S�mC�mQBeNJ'�`�FmKBLTe�K?QLKLFD\p�}?�EeE�Q?EeUEI�o?S?Fm�Km��omRI�?Q?@LD�ELoe'

.�� RJNC\� OjB� ABmC� FJFmF� FmSDIO?� N?KLRm� FmK� DGRL� m� KLFmCDEBeOMm��S�CLOLTJ'�=Lf@?�TCJ}JEJ�oLCKJEmF�T�DGRL�X?BmFCJMme�FmKNRLEe�TL�CL�m�DNLRGCmp�N?QBLo?FLCm�m�N?@?BK?FLCm�DGRL'�:GFmRIC?�CmW?Q?�oBLEJp�CG�@?|CL�eoJFLEJ�|mC?Op�KmEGS�m�DELBJOmF'0LO� CLOLTef� CL�L� BGF?RUMmSCL� @?BLRIp� H?W� F?B?Q� CGHEeFLFoeKIj\Om�@?BLRICm�TLDLKJp�O?RJ�CLNLKLF�CL�CL�m�DGRL'�<?\OL@B?TKLUEI�DmBCJOJp�CL~Ee�S�mC�G'

`�KmDELF�NmK�O?@LCKeFLCC\�[.�HR?NMmF'�d?EL@J�O?@LCKeFLFW?E'�/LDEmFOLp�DE'�oeR'�PBeop�W?E'�dLSOL'

6jB�ABmC�@LF�O?@LCKeFLEJ�o?f@�CL�Q?R?FCmS�WLDEJCm�DGRLpL�D?E'�bB?@GCO?�T�DF?�@J�W?EL@J�46<�m�?H?B?CJ@J�FmKKmRL@J*�CL�FmKEJCOe�NBJDmROL�dGHJ'

:LKFGWmB�Be�Lf@?�CL�X?BmFCJMU'�2LKLf�K?}'�:LDEeN�@LFN?WLEJD\� ?� �jmS� Q?K'�dGBGT� NmEI@e� F� RmDm� CL��NB?FmKCJOp� H?WTCLF� EGBGCp� TLoReKJF'�2?� FL|OJH� EBeKLH�*� NB?FLKJRJ� e|GOjB�ABmC� m�NB?F'�4ELBJS�*�@J�FJS�RJ�?�ZjmS� Q?K'� DL@G�F�EG@mDMGp�TFmKOJ�@LRJ�N?WLEJ�CLDEeN'�`�Tm�DF?fU�NmFD?ECGU�KmDELFCLOLT�NB?BFLEJ�F?B?|m�?O?NJp�FKGBEJD\�K?�DGRLp�TLNLRJEJ�HLEJm� FDELC?FJEJ� TF+\T?O� T� W?E?U� dLSOJp� }?� CLDEeNLEJ@G� TNB?EJRG|C?Q?�o?Oe'�=?R?E?@�oJR?�DGBMGp�TKLFLR?D\�@GCmp�}?FDm�WeUEIp�\O�F?C?�DEeOLf'�7LKmFp�}?�O?@LCKeU�NmFD?ECGU'�:G?KJC� T� CLD� DELFJF� D?om� NJELCC\p� WJ� FGBCGEID\� T� MI?Q?� o?U'1BmH� oeF� CG� \OJSjoeKI'� <?B?Q� ?ToB?fCJS� K?� TeomFg� EBJKM\EIOeRG@GEmFp�RGQOJH�m�FL|OJHp�DOBmTI�?O?NJp�oeCOGBJ�m�E'�K'

6jBJ�6?CJO� m� ABmC� H?KJRJ� N?@m|� \RJM\@Jp� FJS�RJ� CLOBLS� RmDep�}?DI� F� NmEI@m��eOLRJ'� 7LNE?@� CL� FmKEJCOe� dGHJ

.Zk

oRJDCeRL�BLOGEL'�2BJomQ�OjB�ABmC�m��GNCeF�@GCmg��:ep�1RGOD?pKLFLS�ELCGMI�'�`�NGBGHBGDEJFD\p�m�@?\�W?EL�BJCeRL�CL�F?B?|mDELC?FJ}L'�<?B?Qp�}?�DNLF�F�?O?NLHp�CLOBJEJS�NLRLEOL@Jp�CGDN?KmFLFD\�F�ELOe�CGQ?Ke�CLNLKe'�:L��@mC?@GECJS�F?Q?CI�QLFOLfDGBGK�DGRL'�̀ �TK?oeF�NGB�m�?O?NJ�m�CJ}e�F?B?QL�K?�C?QJp�K?omQLUK?� NGB�JH� HLE'� PLNLRJRJ'� _BeQL� DFmWOL� oRJDCeRL� F� W?E?F?Q?dLSOJp� EBGE\�*� e� D?E'� bB?@GCOLp� WGEFGBEL�*� e� OjBL� PBeoL'<?B?Q�DELFJEI�DOBmTI�DOL|GCJS�?NmB'�XmS�OJNJEI�F|G�Q?KJCe':LK�?KCJ@�N?EmWO?@�CL�CLD�DOGB?FLC?�F?Q?CI�T�OmRIO?H�F?B?|JHOeRG@GEmF'

<JDJRLU� TF+\TO?FJH� K?� OjBL�ABmCL� N?� K?N?@?Qe'� PL� E?SWLD�@LU�F|G�eoJEJHp�BLCGCJHp�m�@GCG�N?WLDEeFLRL�F?B?|L�OeR\F� BeOe'�aO?KL� oeR?� TLRJ�JEJ� N?RG� o?Up� O?RJ�}G� omS� CGDOmCWGCJSp�LRG�OB?F�DNRJFLRLp�m�@GCm�ToJBLR?D\�CL�D?C'�<�MI?@eo?U� FmKTCLWJFD\� CGNJDI@GCCJS� o?S?FJO� T� DGRL�/?KJCOJ�*=GKFmKI'�<mCp�CG�TFL|LUWJ�CL�F?B?|JS�F?Q?CIp�FJC?DJF�T�N?R\o?U�FDmHp�BLCGCJHp�eoJEJHp�e�oGTNGWCG�@mDMGp�L�N?Em@�H?KJF�N?�HCU� ToB?U'�AE?� O?@LCKeFLF� NmFD?ECGU� NmDR\� E?Q?p� \O� @GCGN?BLCGC?p� CG� TCLU'� 1� njmS� Q?K'� CL�m� TK?oeRJ� DGR?p� eoJRJoRJTIO?�.���oLCKJEmF'�=J�@LRJ�n�eoJEJH�m�k�BLCGCJH'��<�o?UTLQJCeRJ� DEB'� bBm@p� DEB'� XJDEBJS� T�=LR\FJp� oeF� BLCGCJSDEB'�9|�EL�mC�mp�NDGFK�\OJH�CG�NL@+\ELU�'

6jB�PBeo�N?�?NGBLMm��Nm�?F�DNLRJEJ�NBJDmR?O�dGBEm|p�CL\O?@e�TQ?BmR?�TLH?FLCG�F�DE?K?Rm�F?B?|G�NLCMGBCG�LFE?'

A?W� \O� o?RmRL� @GCm� BLCLp� LRG� O?RJ� N?oLWJF� FK?F?RGCm?oRJWW\�CL�JH�O?@LCKJBmFp�eD@mHCGCJH�DEBmRIMmF�m�FBLKeFLCJSCLB?Kp�}?�omQ�T�eDmH�DmR�CL@�CLTeDEBmWp�CGDeWJ�FD\Om�KLBeCOJp@GCm� DELR?�NBJf@C?'�2J�LFD\� EJ@p�}?�NB?RJF�DF?U�OB?F�TL5OBL�Ce'�2mDR\�CLNLKe�CL�X?BmFCJMU�N?WLFD\�N?B\K?O�m�F�E?@eOmCMm�XmBWLC}JCJ'�<|G�CmHE?�CG�NLRJF�CL�JH�DmRp�CG�FoJFLFRUKGS�m�CG�TLoJBLF��HCI?Q?�@LSCL'

U��W�X����W

:L�� ?H?B?CCJS� FmKKmR� FmKFmT� @GCG� K?� DGRL� /m@C?�� CLRmOeFLCC\'�0eE�@C?U�CLSomRI�G�?NmOeFLRLD\�~LB@LMGFEOL�PGCLjX?QKLCL'�:GTFJWLSC?�EGBNGRJFLp�K?oBLp�@?F�@LEJp�F?CL�B?oJRLFDGp� }?� @?QRLp� }?o� \� FJRmOeFLFD\� \OCLSDO?Bm�G'� _mFWJCLCLSOBL}JH�WGDC?Ep�HLBLOEGBCLp�mKGSCL�m�@?BLRICL'�XGT�|?KC?�

.[�

?H?B?CJ� NGBGH?KJRL� KGD\EOJ� OmR?@GEBmF� N?� CLKB'� �A?R?KCJS`B�p�}?o�FmKFmKLEJ�BLCGCJH�m�HF?BJH�N?FDELCMmF'�PGCLjX?QKLCLTLQJCeRL�F��NJELRIMm�FGDC?U�qkZn�-'p�F�NGB�?@e�BjCm��A?R?KC?Q?`Be�p�F�WLD�CLDO?Oe�N?R\OmF'�XLQLE?�DEBmRIMmF�F?CL�FJRmOeFLRLp�m\�DHJR\U�Q?R?Fe�NGBGK����KeH?@'

���W�������'WWtWy

PKLFLR?D\�@GCmp�}?�EBeKC?�oeKG�FJRmOeFLEJD\p�\O}?�\�CGN?@}eD\�TL�DF?U�BLCe'�5�FGRJO?KCU�N+\ECJMU�\�TmoBLF�46<�TDGRL�NmK�O?@LCK?U�B?S'�aFGSOL'�=J�FDm�BLT?@�TB?oJRJ�TLDmKOeomR\�<?SEO?F?�'�:L�TLDmKOe�FJS�RL�@mRmMm\p�m�@J�OB?NCeRJ�?KC?Q?N?RmML\p�L�EBI?H�BLCJRJp�TK?oeFLUWJ�NBJ�E?@e�EBJ�OBmDJ'

2?�DF\ELHp�F|G�NmKRmO?FLCJSp�\�FJS�?F�CL�EJ|CGFm�OeBDJ4X�K?�DGRL�`@C?�'

U��� o��W��]

<mK�k�EBLFC\�qkZ[�-'�eNB?K?F|�EBI?H�KCmF�FmKoeFD\�F��O?RmDGRL�`@C?�� FJ�OmR�eDmH�BG~GBGCEmF� m� O?@GCKLCEmF�?H?B?CCJHFmKKmRmF'�<J�O?R?@�OGBeFLF�?OBeQ?FJS�BG~GBGCE�oGTNGOJ�/GEeC'0eE�FNGB�G�TBG~GB?FLC?�CL@�N?oeK?Fe�T?FCm�CI?��m�FCeEBm�CI?�L�GCEeBC?��DmEOJp�N?KLC?�Q?BJT?CELRICe�m�FGBEJOLRICe�N?oeK?Fe=�X�*�=<_'� 2?omW� ~LH?F?Q?� FJ�O?Re� FmKoeFLFD\� ELO?|FmSDIO?FJS�FJ�OmRp�\OJ@�OGBeFLF�OjB�ABmC'�5WLDCJOmF�FJ�O?ReoeR?�N?CLK���'�<�WLD�FmKOBJEE\�MI?Q?�FJ�O?Re�?H?B?CCJS�FmKKmRm�OjB�ABmC�KmDELRJ�FmKTCLWGCC\p�\O�CLSOBL}m�F�CLKBLS?Cm'�:L�mNB?E?O?RJ�oeRJ�WJELCmp�\O�FTmBMGFmg� TL�CJ@J�FWJRJp�\O�EBGoLDE\QLEJ�DRmKDEF?�EL�\O�TLNJDeFLEJ�NB?E?O?R'

1KC?Q?�FGDC\C?Q?�KC\�@J�NmS@LRJ�B?TFmKLWOe�86�T�0JB\FJp\OL�KLRL�CLKTFJWLSC?�MmOLFm�@LEGBm\RJ'�0LO�DL@?�@J�FJR?FJRJOmRIOL�oLCKJEmFp�\Om�N?�RmF?@e�oGBGTm�4\Ce�FoJFLRJ�FDmH�eOBL�CMmFm�eOBL�C?Op�}?�FGBELRJD\�T�:m@GWWJCJ�T�B?o?EJ'�<�2?RI}m�FE?S� WLD� N?@?BK?FLC?� OmRIOL� EJD\W� eOBL�CMmF'� 8� ?DELCCI?FJOBJRJ� ELO?|� CG� N?RmEJWCep� L� WJDE?� TR?KmSDIOe� FGRJO?Q?N?OB?U�DmEOe�TR?Km�Fp�N?oeK?FLCe�CL�FTmB�NmKNmRIC?��?BQLCmTLMm�':JEOJ����E\QCeRJD\�FmK�2GBG@J�R\p�WGBGT�XmBWe�K?�4\C?OL'

2B?F'�/GEeC�Q?F?BJFg��4I?Q?KCm�@e�e�FJDR?FJEJ�FJTCLCC\W?E'�ABmC?Fmp�O?EBJS�N?NBJ�FL|Om�BLCJ�F�?oJKFm�BeOJp�F|G�N?

.[q

OmRIO?H�EJ|C\H� Q?E?FJS�KLRm� K?�NBLMmp� FJH?Fef�EL�FJ�O?RUfFTmBMGFJS�FmKKmR� m�DL@�TBLTO?F?�FGKG�B?o?Eep�L�BLT?@�T�EJ@�mQGB?SDIOm�o?S?Fm� Km�'� PL�MG� DORLKLU�S?@e�DI?Q?KCm�N?K\Oe� ELNGBGC?�e� T� CLKBLS?Ce� CL� FmSDIO?F?Q?� BG~GBGCEL� KR\� FDmH?H?B?CCJH� FmKKmRmF'� 6?@LCKJB?@� CL� S?Q?� @mDMG� NBJTCLWLUELO?|�TLDRe|GC?Q?�1DEB?FGBHL�'

2mDR\� MI?Q?� FJ�O?Re� \� F|G� CG� oeF� BLT?@� T� @?�@O?@LCKJB?@p� EmRIOJ� WLD� FmK� WLDe� T� CJ@� TeDEBmWLFD\'�=?�@TFGBHCJO?@�EGNGB�DELF�6LBR?�T��?QLEJCL'

U���W�����o ����'X�� o��W

:GFK?FTm�@GCG�N?ORJOLC?�CL�NmKDELB�JCDIOJS�FJ�OmR'�V?Q?mCmMm\E?B?@�m�?BQLCmTLE?B?@�oeF�OjB�6?CJO'

6jB�ABmC� \O� CLKBLS?C?FJS� NB?F?KJF� N?DEeN?F?� F� N+\EJBLS?CLH�FmSDIO?FJS�FJ�OmR�?H?B?CCJH�FmKKmRmF'

4?E'� bB?@GCO?� FJ�O?RUFLF� D?ECU� 46<� F� ?O?RJM\H`FmBCJOL�7eDIO?Q?'�d?E'�4eHJSj6BJRLW�CLFWLF�DL@??o?B?Ce�FNGB�?@e�BjCm�omR\�2GBG@J�R\'�2?�DGRLH�m�RL�QLB\WO?FL�TomBOLToB?�p�L@eCmMm�p�?BQLCmT?FLC?�FJ�OmR�46<'�=GCm�E?Km�L|�H?EmR?D\|JEJ'�=J�oeRJ�NLCL@J�DJEeLMm��FmK�4\Ce�L|�N?�2GBG@J�RI'2?RIDIOm� oLCKJp�}?� DJKmRJ� F� XmBWm� WJ� KGmCKGp� EmRIOJ� C?WL@J?oDEBmRUFLRJ�m�BmKO?�CLNLKLRJ�omRI�J@J�DJRL@J'

<� CL�?@e� EGBGCm� N?\FJRLD\� D?EC\� OjBL� XeB?Q?p� \OLNBJS�RL�T�/G@OmF}JCJp�L�T�CGU�oeF�ELO?|�OjB�XmB'

:L� NmKDELB�JCDIO?@e� FJ�O?Rm� FDm@� OGBeFLF� OjB� PGCO?'2?RI?Fe�DRe|oe�FJORLKLF�OjB�4EBJOp�Nm?CGBOe�*�OjB�PGCO?pmDE?BmU�F?fCp�oLRmDEJOe�m�OLBE?QBL~mU�*�D?E'�<?R\p�ToB?fTCLCC\PBeop�NLBEJTLCDIOe�ELOEJOe�*�OjB�<?B?Cp�L�FCeEBm�CU�DRe|oe*�OjB�/LDEmFOLp�LBEJRGBmU� m��OmMJ�OjB�XLB?C'�2?�TLOmCWGCCmFJ�O?Re� FmKoeR?D\� eB?WJDEG� DF\E?� ToB?�'� 2?� FJ�O?Rm� @GCGNGBGFGRJ�F�N+\EJS�BjC�*�NmFCmWCe�/m}JCe'

��r�t��� ���x���p

qw�DGBNC\�qkZ[�B'�NBJ�HLF�K?�@GCG�OjB�ABmC'�2BJ�HLF�EeKJpKG�@J�FNGB�G�TeDEBmRJD\p�CL�NBJDmR?O�7?NLp�}?o�N?NB?}LEJD\po?� FmC� FmK+�|K|LF� CL� /G@OmF}JCe'� 5� CI?Q?� oeF� QLBCJSO?TLMIOJS� OmCIp��LoR\p� L� CL� Q?R?Fm��LNOLjOeoLCOL'�aLoRU

.[.

N?KLBeFLRL� X?QKLCLp�}?o� FNBLFR\FD\� CGU� EL� EJ@� DN?D?o?@RmOeFLF�BeOJ'�<mDEOL�NB?�EGp�}?�OjB�ABmC�FmKH?KJEIp�TLD@eEJRLCLDp� S?Q?� o?S?FJOmF'�A?W�CG� oeRJ�@J� EGNGB�BLT?@p� L� FDG�|ELOJ�WLD�FmK�WLDe�TeDEBmWLRJD\�EL�@?QRJ�D?om�N?Q?F?BJEJ�N?}JB?DEm'�aO?KeFLRJ�TL�CJ@�o?S?FJOJ�XJDEBJSp�`Bp�=GKFmKIS� mC�mp� o?� RUoJRJ� S?Q?p� \O� DF?Q?� oLEIOL'� :L�G� NB?}LCC\oeR?�DNBLFKm�F?\MIOG'�1DI�CGDN?KmFLC?�NBJomQRJ�N?FDELCMm�TDGRL�/\HLFJp�N?FmK?@R\UWJp�}?�F�DGRm�T+\FJR?DI�Z��F?\OmF�<2'X+UEI� m� LBG�E?FeUEI� RUKGS� EL� @LUEI� TLBLT� O?R?� �O?RJB?TDEBmRUFLEJ�OmRIO?H�@e|WJC'�=J�*�n�o?S?FJOmFp���DLCmELBmFpNB?F'�4ELBJS�*�NmK�O?@LCK?U�W?E'�ABmCL�Be�JRJ�omQMG@�CL?o?B?Ce�/\HLFJ'�>�EeEp�\O�TLF|KJ'�=eKBJSp�HJEBJS�NR\C�*�mCLD� KFLCLKM\EI� CLDEeNLf� CL� N?R\OmF'� 2?� NmFQ?KJCC?@e� o?U@J�B?ToJRJ�F?B?QL�m�FJTF?RJRJ�LBG�E?FLCJH'

2?� E?@e� TLFT\E?@e�o?U�@J�TLDNmFLRJ�D?om� OmRIOL�CL�JHeRUoRGCJH� NmDGCIp� N?NB?}LRJD\� m� B?TmS�RJDI'� 1E� ELOp� CLNB?}LCC\p�K?oBG�N?F?UFLRJ'�:G�BLT�\�DELFJF�D?om�NJELCC\g�WJ@J�}G�TmSKG@?D\�O?RJp�WJ�B?TmS�RJDI�CLTLF|KJ�

R�����'X������W

=mS�?H?B?CCJS�FmKKmR�NGBGoBLF�2GE\p�L�\�FmKmS�?F�e�BLS?C>Q?B\'�1H?B?CCJS� FmKKmR� F� N+\E?@e� BjCm� F|G� oeF'� _?� CI?Q?� \KmoBLF�}G�OmRIO?H�DEBmRIMmF� T� D?ECm�OjBL�<?B?CL� m� FJO?CeFLFNGBGFL|C?�N?RmMmSCe�B?o?Ee'

<?DGCJ�\�TLHF?BmF�ELOp�}?�K?FGR?D\�@GCm�RG|LEJ�F�?KC?Q?Q?DN?KLB\�F�DGRm�4ELCIO?FmS'��GS�Q?DN?KLB�KoLSRJF?�?NmOeFLFD\@C?Up� KLFLF� N?@mWp� \Oe� EmRIOJ� @mQ'� 5FGWGBm� NBJH?KJRJ� @?�o?S?FJOJ�CL�FmKFmKJCJ'�:G�BLT�NBJH?KJF�m�1BRJOp�}?�oeF�E?Km@?�@� TFGBHCJO?@'�=GCG� TLDEeNLF� EGNGB�4R?FLO'� <� WLD� @?f�FmKDeEC?DEJ�K?�BeO�F?B?QL�N?EBLNJF�<?FO'�<mC�EBJ@LFD\�DJRIC?pCG�TBLKJF�CL�JH�ELf@CJMIp�NGBGS�?F�FGRJOm�E?BEeBJp�L�}?�TCJ@�DELR?D\�*�CG�TCLU'�XeF�Tm�DGRL�<mRI�LCJMm'�2?�FJKe|LCCm\�FGBCeFD\�K?�DF?�H�o?S?FJOmF'�2BLM\�S�RL�KLRm�eDNm�C?'

�Wr��p�W���p���jPNz����X

:L�7mTKF\Cm�DF\EL�\�NmKQ?EeFLF�H?Bp�CLFWJF�DF?�H�o?S?FJOmFC?FJH� O?R\K� EL� QLBCJH� BGF?RUMmSCJH� NmDGCI'� 4F\EL� @J

.[�

NB?F?KJRJ� BLT?@� T� D?ECGU� OjBL� <?B?CLp� NBJ� DNmFeWLDEJN?FDELCMmF�CL�?Q?�BLS?Ce'�XeRJ�ELO?|�NBJDeECm�NB?F'�MI?Q?BLS?Ce�>Q?B�m�?BQ'�BG~GBGCE�T�CLKBLS?Ce�7?oGBE'

2B?F'�>Q?B�TKLFD\�@GCm�\O?UDI�KJFC?U�RUKJC?Up�}?�S?Q?Q?Km�oeR?�TB?Te@mEJ'

:LE?@mDEI�NB?F'�7?oGBE�oeF�CGTFJWLSC?�QLBC?U�RUKJC?Um� BGF?RUMm?CGB?@'� 4F?fU� ELOE?FC?U� N?FGKmCO?Up� KBe|Cm@DELFRGCC\@p� DOB?@CmDEUp� LRG� S� oGTeNJCC?U� NBLMGU� TK?oeFD?om�LFE?BJEGE�m�FJTCLCC\�@m|�eDm@L�N?FDELCM\@J'�<mC�NmTCm�GFmKmS�?F�e�6BJCJWWJCep�KG�TLQJCeF�CLFGDCm�qkZn�B?Oe'

R �����p

P�FGDC?U�F?B?Q�N?WLF�FJDGR\EJ�N+\EJS�BjC'�=mS�FmKKmRp�LELO?|� D?EC\� OjBL� <?B?CL� FGRJ� NB?EJFJDGRGCWm� ?NGBLMm�'�=JB?oJRJ�To?BJp�TLORJOLRJ�CLB?K�CG�RJ�LEJ�BmKCJH�DmR'�:J}JRJ@?DEJ� CL� TLRmTCJWC?@e� �R\Hep� CL� Q?DEJCM\Hp� RmOFmKeFLRJL�mELE?BmF�CL�FJ�TK'�`�DNLRJF�eDm�KF?BJ�F�BLS?Cmp�}?o�N?R\OJ�CG@LRJ�KG�OFLBEJBeFLEJ'

1KC?Q?� BLTe� \� FT\F� D?om� CL� K?N?@?Qe� ?KCe� W?Ee� T� D?ECmOjBL� <?B?CLp� CLoBLF� NmKBJFCJH� @LEGBmLRmF� m� FJBe�JFp�}?oFJDLKJEJ�TLRmTCJWCJS�@mDEp�WGBGT�\OJS�NGBGH?KJRJ�EBLCDN?BEJT�FJDGRGCM\@J'�:L�?H?B?Cm�@?DEL�oeR?�O?R?�NmFD?ECm�N?R\OmF'P�CJ@J�\��FJKO?�FN?BLFD\p�FmKmQCLFp�L�@mDE�FJDLKJF�e�N?FmEB\'<�E?S�DL@G�WLD�CLK+�HLF�T�4\C?OL�NLCMGBCJS�N?E\Qp�LRG�N?FGBCeFCLTLK'�=mDE�@J�FJDLKJRJ�oGT�|?KCJH�FEBLE'

RW��W�����!�'�W�x �X

2GBG@J}JCL� @LRL� FDG� ELOJ� N?FL|CG� WJDR?� N?FDELCMmF'XmRI�mDEI� T� CJH�*�MG� K?oBm� B?TFmKCJOJ� m� O?@LCKJBJ'� XLQLE?RUKGS�T�DGBGKCI?U�?DFmE?Up�TKLECJH�OGBeFLEJ�BG~GBGCEeBL@J'0J@� WLD?@� CL�/G@OmF}JCm� OGBmFCJH� OLKBmF� oeR?�@GC�Gp� EL@NBLMUFLRL�|@GC\�NB?FmKCJOmF� m� O?@LCKJBmF'��?o�NmKOBmNJEJ/G@OmF}JCep�NB?FmK�WLD�FmK�WLDe�FmKDJRLF�EeKJ�TKmoCJH�m�@GEOJHRUKGS'�7LCm�G�EeKJ�FmKmS�RJ�4EGN?FLp�ABJDE\p�=?EB\p�=LBELpAJEBJS� m�8BNLK'�<RmEOe� qkZ[�B?Oe� EeKJ� FmKmS�?F�OjB�ABmCp� LEGNGB�mKG�OmRIOLCLKM\EI�?Dmop�@m|�CJ@J�OjB�XmDp�OjB�7?@L�O?p\'� `� TBLTe� FCmD� NB?HLCC\� K?� ?OBe|C?Q?� BG~GBGCEL�4Xp�}?

.[Z

H?We�SEJ�K?�D?ECm�OjBL�ABmCLp�o?�omRI�G�RUoRU�FmSDIO?Fm�DNBLFJpCm|� N?RmMmSCm'� 2B?FmKCJO� Nm�?F� @GCm� CL� BeOe� m� K?TF?RJFK?ReWJEJD\�K?�@?Q?�O?RJ�CI?Q?�O?@LCKJBL'

P�XmBWLC}JC?U�m�NmFCmWC?U�/m}JC?U�\�NB?}LFD\�T�omRI�J@|LRG@p�Cm|�F�@JCeR?@e�Tm�4L@omB}JC?U'�0eE�@LS|G�KFL�B?OJo?B?FD\� TL� DNBLFe'� bGSp� QGSp� KFL�B?OJ'�<DG�|� ELOJ� TL�MGS�WLDTmoBLR?D\� oLQLE?� MmOLFJH� DN?@JCmFp� FBL|GCIp� NBJQ?Kp� NmTCLF� \CG@LR?� K?oBJH� m� TRJH� RUKGSp�|JEE\� DELR?� eWJEGRG@p� L� o?��*O?@LCKJB?@'�XLQLE?�@?�H�KBeTmF�N?R\QR?�CL�N?Rm�DRLFJ'''�8�EGNGBmKe�K?�E?Q?p�K?�O?EB?Q?�Q?BmRL�@?\�F?\MIOL�RUo?Fp�K?�DF?Q?��DELB?Q?�O?@LCKJBLp�NRmWj?jNRmW�T�\OJ@�\�ELO?|�CG�@LR?�F|G�CLF?UFLFD\'

2B?}LFD\�\�T�KBeT\@J�m�TCLS?@J@J�DGR\CL@J'�_mFWLEL�CLNB?}LCC\�KLFLRJ�DF?��DFmERJCJp�EL�\�CG�@mQ��H�NBJSC\EJp�}?oO?RJDIp� \O}?� FNLKep� CG� N?DRe|JRJ� F?CJ� F?B?Q?Fm'� `� NB?DJFKLEJp�TL@mDEI�~?E?p�HeDE?WOe�CL�NB?}LCC\'

#��y������mW��X��LLL

7LNE?@�CL� NmFKCm� DEB\DRJ� TG@RU� \OmDI� FJoeHJ'� PL� OmRIOLHFJRJC�CL�NB?DE?Bm�OmRIOLCLKM\EI?H�OmR?@GEBmF�NmKC\RLD\�K?�CGoLTLQBLFL�FGRJO?��N?|G|m'�1Wm�eDmH�TFGBCeRJD\�F�MI?@e�CLNB\@m'=J�K?FQ?�KJFJRJD\'�4N?WLEOe�F?Q?CI�CLWG�o?B?FD\�T�H@LBL@JpL� N?Em@� TLOBJF� CGo?�~m\RO?jOBJFLFJ@J� FmKoRJDOL@J'�=mDMGFmN?FDELCMm� FmKBLTe� DOLTLRJg� �0L@� �LTKef�ABmC�'�=GCm� CL� Ke�mDELR?�RGQO?� m�@JR?'��G�CG@?F�CL�NBJFmE�@GCm�NLRLUEI�F?B?|mQCmTKLp� WeEJ� FJoeHJ'� AE?DI� T� NBJDeECmH� K?KLFg� �0GNGB� EBGoLWGOLEJp�}G�XeBRLOL�}?DI�FDEBeQCGp�o?�F?CJ�?oJKFL�K?oBm�KBeTmgL� B?Te@mUEI� ?KJC� ?KC?Q?p� \O� RJDm� O?Cm�'� <RLDCG� F� MU� CmWOjB�_mKJO�CJ}JF�F?B?|m�QCmTKL�F�@mDELH�XeOmFDIOe�m�:?F?ELCMm'/GEmRJ�F�N?FmEB\�@?DEJp�DeKp�@mRmMm\p�N?�ELp�F?R?DEI�S�mC�m�oeKmFRm'�G�oeRL�FmKNRLEL�TL�DNLRGCC\�R\HL@J�W?EJBCLKM\EI?H�RG@OmFDIOJHDmR�F�?O?RJMm�EJH�|G�F?B?|JH�QCmTK'�`�N?NB?}LFD\�T�KBeT\@JpKmFWLEL@J� m�Nm�?F�CL�/G@OmF}JCe'�=GCG�BFLR?�K?ReWJEJD\�K?D?ECm'� >KeWJ�/m}JC?Up� \� DOBmTI� WeF� B?T@?FJ� NB?� ?DELCCm� o?�OjBL�ABmCL'�:LDGRGCC\�?N?FmKLR?�NB?�CJH�RGQGCKJ'

A?W� @?f� BmKCG� DGR?p� F|G� EGNGB� N?B?|Cfp� RG|LR?� CLBmFCJCLHp� FDG� ELOJ� @GCG�}?DI� E\QR?� K?� Emf�� eo?Q?�� QmBDIO?�/G@OmF}JCJ'�6?RJ�NGBGKm�@C?U�F|G�DJCmF�XGDOJKp�\�OBJOCeFDL@�D?omg��<mELSp�@?\�/G@OmF}JC?��

.[[

R��\Y ��%#

�X���Wi

XLQLE?�O?�EeFLR?�@GCG�TK?B?F+\�m�CGBFmFp�TLOJ�TR?FJF�D?ECUDF?Q?�O?@LCKJBL'�1DIj?DI�e|G�TK?QLC\U�S?Q?p�L|�EeE�BLNE?@FmC�FmKDO?WJEI�OmRIOLCLKM\EI�OmR?@GEBmF�KLRm'�2BJSKe�EeKJp� LFmC�F|G�N?KLFD\�CLTLK'�P�E\|OJ@�EBeK?@�e�OFmECm�\�TeDEBmFD\�TOjB?@�ABmC?@�F�K?Rm�CI?@e�OmCMm�DGRL�`FmBCJOL'

6?@LCKJBp�N?oLWJF�J�@GCGp�TBLKmF'�8�O?RJ�K?FmKLFD\p�}?\� N?� K?FQJH� DELBLCC\H� K?ReWLUDI� K?� S?Q?� D?ECmp� oeF� Ke|GFK?F?RGCJS'�7LKmFp�}?�S?Q?�DELBm�F?\OJ�CG�TLoeFLUEI�NB?�CI?Q?'

�mf�� C?Wm� @J� TLFGRJ� K?FQe� B?T@?Fe'� `� @eDmF� K?ORLKC?B?TN?FmKLEJ� NB?� FDmH� m� FDGp� NB?� o?�� XeBRLOJp� OjBL� bB?@GCOLpOjBL�6BJRLWLp�OjBL�/LDEmFOJp�NB?��HCU�ELOEJOep�|JEE\p�CLDEBmSDEBmRGMEFL�m�E'�K'�<JNJEeFLF�NB?�FDmH�NB?FmKCJOmF�m�BG~GBGCEmFpNB?�o?�FOep�NB?�EGp�WJ�CG�TLD?B?@JF�S?Q?�O?EBJS�T�o?S?FJOmFpHE?�FNLF�CL�N?Rm�DRLFJp�L�HE?�KLRm�NB?K?F|ef�o?B?EIoe'�6?@LCKJBKG}?�N?DELBmF'�P@?B�OJ�N??BLRJ�RJMG�m�W?R?p�N?DJFmF'�<mSCL�F6LBNLELH�B?oJEI�DF?f'�7eOL@J�F?R?KmF�OBL}G'

P� oLEIOmFDIO?U� EeQ?U� TQLKeFLF� TL� DF?U� K?CGWOe�*@LRGCIOe�/mRmU'

:L� KBeQJS� KGCI� O?@LCKJB� TmoBLF� D?ECUp� \OL� CLRmWeFLRLE?Km�.n��W?R?FmO�F��mDEI?Hp�QLBC?�eoBLCJH�m�?ToB?fCJH�W?ELH':L�TomBMm�O?@LCKJB�Q?F?BJF�NB?�@GCGp�NB?�@?��o?��S�FmKFLQe�ELN?FmK?@JFp�}?�NBJTCLWLf�@GCG�ToB?S?FJO?@�N?�D?ECm'

�mf�� C?Wm� NGB�JS� W?E?FJS� OjB�1@GRIO?� NmKDeCeFD\� NmK6?@LCWep� B?ToJF� N?RIDIOe� ?H?B?Ce� S� FJ@mCeFLF� @?DEJ'� �\?NGBLMm\�@LRL�TLFKLCC\@�DE\QCeEJ�F?B?|m�DJRJp�\Om�EGNGB�Q?CJRJDOBmTI� F� EGBGCmp� m� FmKE\|JEJ�/m}JCep� OeKJ� @J�@Lf@?� mEJ� CL<GRJO?KCm�DF\EL'�PLQLRIC?�F?B?|m�FmSDIOLp�C?F?NBJoeRm�EeEp�oeRJF�NLCmMmp�o?�BLCCI?U�FGDC?U�eDm�NBJO?BK?CCm�DELCJMm�S�@mDMGFm�LBCmT?CJ�oeRJ�B?ToJEm�F}GCE�D?ECGU�OjBL�ABmCL'��X?�g�`DGRO?p<JD?WLCJ�*�6?|e�CGp�4GBGKCf�<GRJOG�*�A?MGCI�m�mC�m�'

R� ����W������

0GBGCp� e� \O?@e�Km\RL�CL�L�D?EC\p� oeF� DJRIC?�?oDLK|GCJSF?B?Q?@'�4?EC\�N?DEmSC?�oeRL�F�@LB�LHp�NGBGOJKLRLD\�KLRGO?�T

.[Y

@mDM\�CL�@mDMG'�:LoRJ|LRJDI�<GRJO?KCm�DF\EL'�4F\EOeFLEJ�F�DGRLHRmF?BeW�Lo?�NBLF?BeW�BmOJ�1DRLFJ�oeR?�CGK?MmRIC?'�2?jNGB�GpoeF�oJ�CLNGFC?�omSp�TQ?BmR?�o�DGR?p�Lp�N?jKBeQGp�DOLTLF�J�NBLFKepCG�oeR?�KG'�4GRL�F�omRI�?DEm�N?NLRGCm�Lo?�omKCm�m�@LR?WJDGRICm'0?@e�@J�Nm�RJ� F� BGSKp�}?o� H?W�BLT� FmKDF\EOeFLEJ�<GRJOKGCIDN?OmSC?�EL�T+�DEJ�o?KLS�HRmoLp�\O?Q?�EeE�oeR?�Ke|G�@LR?'

4?EC\�TLOFLBEJBeFLRL�F�/eOmFDIO?@e�RmDm'�6?@LCKJB�FJDRLFNGB�e� m� KBeQe� W?EJ� K?� DGRL� 0LBCLFJp�}?o� EL@� TCJ}JEJ� FDmNBJQ?E?FLCm�<2�F?TJp�\OJ@J�@LUEI�FJF?TJEJ�CL�G�CLDGRGCC\pEL�TLoBLEJ�FmDm@�DFJCGS�KR\�D?ECm�CL�K?B?Qe'�d?EJ�FN?BLRJD\�TTLFKLCC\@�TCJ}JEJ�O?R?�.���F?TmFp�NBJQ?E?FLCJH�K?�FJDGRGCW?�?NGBLMm�'�2+\Cm�@LTeBJ�@eDmRJ�DL@m�BeoLEJ�D?OJBL@J�DF?��FRLDCmF?TJ'�PLoBLC?�DFJC?O�EmRIOJ�F� EJHp� DJCJ�\OJH�oeRJ�WRGCL@JoLCKJp�}?� QBLoeFLRL� eOBL�CDIOm� B?KJCJ� F� bBe�Mmp� dGOLU� m<GRJO?N?Rm'�0m�JRJDI�F?\OJp�}?�oeKeEI�@LEJ�DJEm�DF\EL'

:L�KBeQJS�KGCI�NBJS�RJ�T�@mDEL�PLQmB+\�CL�m�KmFWLEL�K?N?B'� <mEBL'� <?CJ� NBJCGDRJ� NB?}LRIC?Q?� RJDEL� FmK� N?KBeQg:LELROJp�8Bm\KCJp�/mKJ�m�=?EBmp�\OJH�F?B?Q�FNLOeFLF�DJR?U�K?FLQ?CmF� EL� FJFmT� CL� DHmK'� _R\��\NOJp� T?OBG@Lp� F?CJ� TB?oJRJ�NL\ML��*�Cep�MmRO?FJE?�N?KmoC?Q?�K?�CI?Q?g�ELOm�DL@m�FJD?OmW?o?EJp� \O� FmC� @Lfp� @LBJCLBOL� m��ELCJ� ELO?�� DL@?�� ~LBoJp224p�@LTGNJCOL�T�omRJ@�O?|e�O?@p�ELOJS�DEBeCOJSp�\O��\NOLpEL�T�ELO?U�K?FQ?U��JfU'�<GDGRJS�N?B'�<mEGB�FH?NJF�E?Q?�NL\MLpN?CmD�S?Q?�CL�W?ELH'�1H��4OmRIOJ�EL@�oeR?�BGQ?Ee�m�D@mHep�L|OLWLRJD\�HR?NMm'�6eHLB�eN?B\KOeFLF�DFJCOJp� �H�N?KmRJRJ�@m|B?\@Jp� L� DEBmRIMmp� FoJF�J� oLQCGEJ� F� @+\D?p� NLBLKC?� T� CJ@H?KJRJp�\O�F�DGBGKCI?FmWWm�C?DJRJ�HBJDEJ\CDIOm�Q?R?FJ�EeBOJCL�DNJDLH'�5FGWGBm�@J�NGBGS�RJ�DGR?�:?F?DmROJp�N?FGWGB\RJ�F�GBKGCMmp�L�KLRm�CL�DFmELCOe�NGBGS�RJ�F�RmD�6C\|G'

����W�

4I?Q?KCm� DEBLDCJS� WGEFGB'� _GCI� QLBCJSp� FGDC\CJSpN?QmKCJS'� 0GNR?� TmKHLf� FmEGBp� B?TNeDEJRJDI� oBeCIOJp� RmD@GBGHEJEI�e�D?C\�C?@e�DFmERmp�N?jDF\EO?F?@e�?K\QLFD\�NB?DEmB'_?FQJ@�DEBmRGMIOJ@�B\KO?@�N?DeFLRLDI�CL�L�D?EC\'�XRJ}LRJKeRL� OeRG@GEmFp� oLQCGEJp� OLDEBJ� m� MmFOJ�@mC?@GEmF'� X?O?@� CLF?B?CJH� m� OL�ELC?FJH�O?C\H� �HLRJ� q��CL�JH�OmCC?ECJOmF�CLW?Rm�T�O?@LCKJB?@'

.[n

P�NBJD@GBO?@�@J�F+�HLRJ� F� DGR?�XGBGTOe'�4GR?�WLDEJCC?DNLRGCG�F�WLD�~B?CE?FJH�KmS'�XGBGTOL�@?|G�Q?BKJEJD\�DF?�@J@G�OLCM\@J'�XGBGTOL�m�<?R\�=LEm\�?FL�*�?KCm�T�CLSDFmK?@m�JHDmR�4HmKC?��/G@OmF}JCJ'�6?|CG�DGR?�KLR?�T?OBG@L�oRJTIO?�D?ECmeWLDCJOmF� e� CL�m� RLFJ'��m� DGRLp� TL� �H� FFmWRJFmDEIp� oeRJ� Ke|GRUoRGCm�N?FDELCM\@Jp�m�CGKLBG@C?�BLS?C?FL�NB?FmKCJM\�0GE\CLRUoJRL�DNmFLEJ�RG@OmFDIOe�NmDCUg

J���0�������F���������% ���/T������������%��/��'����&� ����

2?\FL�CL�?��D?ECm�F�DGRm�FJORJOLRL�FGRJOJS�BeH'�:LDGRGCC\NBJS@LR?�CLD�T�FGRJOJ@�FK?F?RGCC\@p�o?�TJ@?Fm�S�FGDC\Cm�o?��JB?OJ@� FmKQ?@?C?@� B?TCGDRJD\� N?�/G@OmF}JCm'� 4GR?� oeR?FK?F?RGCGp�}?�@J� oeKG@?� EeE� OFLBEJBeFLEJp� DELCG@?� F� S?Q??o?B?Cm�CL�FJNLK?O�CLNLKe�<2�e�<GRJO?KCm�DF\EL'�6?@LCKJBTLBLT�K?@?FJFD\�T�@mDMGFJ@�DF\}GCJO?@p�m�MmRe�CmW�FmKoeFLRLD\DN?FmKI'�5DG�DGR?�BJCeR?�K?�MGBOFJp�}?o�FmKFmKLEJ�NRL}GCJMU'Pm�DRI?TL@J�F�?WLH�KJFJRJD\�RUKJ�CL�F?\OmF�/G@OmFDIO?��D?ECm':G�?KCL�@LEJ�TQLKLRL�DF?Q?�DJCLp�}?�TQJCeF�F�o?Up�Lo?�|JFG�mo?BGEID\�F�RLFLH�BGF?RUMmSC?Q?�NmKNmRR\'

<GRJO?KC\� N+\ECJM\'� 7LCGCIO?� @mDMGFJS� DF\}GCJOFmKNBLFJF�4Re|oe�X?|e'�:L�Q?BLHp�CL�CLSFJ}JH�KGBGFLH�DE?\RJTmBMmp�L�CL��R\HLH�N?FDELCDIOm�TLDELFJ'�6BeQ�MGBOFJ��mDEI�W?EFJ�JOeFLRJD\�RLFL@J�m�DReHLRJ�4Re|oe�X?|e'�`�Mmf��HFJRJCJCG�TLoeKe�CmO?RJ�F�|JEEm'�2?W?E�D?ECm�DE?\F�CGKLRGO?�FmK�FH?KeK?� MGBOFJ'� 2GBGK� W?EL@J� DE?\RJ� W?E?Fm'� 6jB� NGB�?�� W?EJH?B'�1@GRIO?�oeF�mCDNGOMmSCJ@'�<mSDIO?�oeR?�FoBLCG�F�C?FGCIOmN?RIDIOm� @eCKJBJp� TK?oeEm� F� FGDC\CJH� o?\H'� 5� O?|C?Q?� CLC?QLH�C?FGCIOm�W?o?EJ'�PoB?\�L|�mDOBJRLD\�F�NB?@mCC\H�D?CM\'<?C?�NGDEJR?p�B?TOm�C?�MmReFLR?�?D@LRGCm�FmEB?@�RJM\�F?\OmF'�mCOJ� m� W?R?FmOJ� T� N?�LC?U� m� RUo?F+U� KJFJRJD\� CL� DF?�HRJMLBmF'�aGN?EmRJ�@?RJEFJ�TL��H�TK?B?F+\p�KGHE?�NRLOLF'

�?SC?�T�MGBOFJp�T�NBGDE?RLp�K?CmDD\�DNmFg��2BG@eKB?DEIpNB?DEJp� eDRJ�J@� DF\E?Q?� fFLCQGRm\�'''� FNLRL� O?@LCKLH?B'� 1@GRIOLg� �4?EC\�''� 4EBeCO?�''� :L� NRGWG� OBmD�� 6BmD?@N?WGDEI� FmKKLS�� 2BLF?BeW� QR\CI��� 7mFC?@mBCm� eKLBJ� ToB?�� mO?@LCKL� DO?RJHCeRJ� DGBM\� FmBCJH'� 6BeQ?@� FDG� Q?R?DC?TLNRLOLR?'''

2?Em@�NBJDEeNJRJ�K?�4F\E?Q?�2BJWLDE\'�2mKH?KJRJ�F?\MIOm

.[w

N?DELEmp�}?o� NBJSC\EJ�:LSDF\Em�m� 0LSCJ'� XGT@G|Ce� EJ�e� FMGBOFm�NGBGBJFLF�EmRIOJ�BmFC?@mBCJS�F?\MIOJS�OB?O�m�NRLW�KmEGS'

1NmDR\�TC?Fe�ELOJ@�FBL|LUWJ@�@?@GCE?@�oeF�?oHmK'�/LFJomSMmF�528�CL�BeoG|LH�F?UUW?��5OBL�CJ�oRLQ?DR?FJF�DF'�WL�GUDF\}GCJO'

2mDR\�X?Q?DRe|GCC\�FJS�?F�CLB?K� mT�MGBOFJ� m�?oDEeNJFDEBmRGMEF?'� XLQLE?� Q?DN?KLBmF� m� Q?DN?KJCI� NmKmS�R?� K?O?@LCKJBLp�TLNB?�eUWJ�S?Q?�K?�DGoGp�L�\O�Cmp�E?�}?o�NBJKmRJEJ�@�N?�OmRIOL�DEBmRIMmF'�8RG�FmKN?FmKIg��=J�FmKH?KJ@?�p�*�FBLTJRLDGR\C'�2?DJNLRJDI�NJELCC\p�W?@e'��0L�|�@J�FLD�H?WG@?�F�DGoGQ?DEJEJp� EL� CLD� ELO� DRLFC?� o?B?CJEGp� EL� RJ�mEID\�'� :LB?KB?TH?KJFD\� K?� DF?�H� K?@mF'�=GBGHEmRJ� CL� DEG|OLH� oLBFJDEmRG@OmFDIOm�DEB?�'�_?B?Q?Up�F�Q?Bm�CmS�OmCGMI�DGRLp�@LB�eFLRJW?EJ�TL�W?EL@J'�6?RJHLRJDI�BmFC?@mBC?p�L�TL�CJ@J�TKmS@LRLDIOeB\FLp�OBmTI�\Oe�WLD�FmK�WLDe�oRJDOLRL�ToB?\'�7JDDU�N?@WLRJOmCC?ECJOJ'

<� Deo?Ee� @J� Nm�RJ� FmKFmKLEJ� DGR?� <?R\�=LEm\�?FL'� 0eEN?FE?BJR?DI�EG�DL@G'�:LB?K�TLNB?�ef�TLRJ�JEJDI�CL�DF\ELp�LRG@J�CL�DL@JS�<GRJOKGCI�CL�DFmELCOe�@LB�ef@?�K?�DGRL�=JWO?FL'

R� ����

4GR\CJ�oeRJ�F�MGBOFm'�AE?DI�N?FmK?@JFp�}?�SKG�CGFmK?@GFmSDIO?'�2?DELF� DEBLH� m� NLCmOLp� LRGp� O?RJ� K?FmKLRJDIp�}?� MGCL�L� D?EC\p� eDm� oeRJ� FBLKeFLCm'� <� Q?Bm�CI?@e� OmCMm� DGRL� CLBmFCmS�N?R\Cm�FmKoeRLD\�DF\E?WCL�TomBOL'

2GBGK� W?R?@� D?ECm� DELF� OjB� ABmC'� XeR?� EJH?p� EmRIOJMFmBmCIOLRJ�FGDGR?�NEL�OJp�KBJ|LRJ�@?R?Km�RJDEOJp�L�FmK�MGBOFJK?C?DJFD\�FGRJO?KCmS�DNmF'�6?RJ�O?@LCKJB�OBJOCeFg��ABJDE?D<?DOBGD���*� D?EC\� QB?@?@� FmKN?FmRLg� �<?DOBGDCG� 5OBL�CL��6?@LCKJB�FJQ?R?DJF�NB?@?Fe�EL�N?oL|LF�eDm@�F?\OL@�}LDRJFJHDF\E'�2B?@?FL�oeRL�O?B?EOLp�LRG�NLROL'�:L�Q?BLH�DE?\RJ�DEmSOJpNGBG�TKJRJ�OmCCm�CL�m�DEG|mp�CL�DELC?FJ}LH�DE?\RJ�@mC?@GEJ'6?@LCKJBJ�W?E�KmDELRJ�DNGMmLRICm�CLOLTJp�NBJTCLWGC?�FmKEJCOJF�BLTm�CLNLKe�F?B?QL'

=mDMGFJS�EGBGC?FJS�NB?FmK�*�5KLBCJOp�0GE\CLp�bBmCWGCO?*�NBJDRLF�N?KLBeCOJg�oeROJp�O?FoLDep�\SM\'�6jB�ABmC�KmDELF�eN?KLBeC?O� FmK� DEBmRIMmF� NmF@GEB?FJS� HBmC�*� ELO?Q?� FNGB�GN?oLWJF'�6?@LCKJB�NBJSC\F�S?Q?�T�TLK?F?RGCC\@'�2mK�TLQLRICe

.[k

BLKmDEI� DEBmRGMEFL� FmC� TLNHLF� D?om� TL� N?\D� E?S� HBmC� m� T� CJ@H?KJF�eDm�DF\EL'

6?RJ�RUKJ�FGBCeRJD\�T�MGBOFJp�N?WLRLDI�DF\E?WCL�Q?DEJCL'b?DN?KJCm�NBJCGDRJ�DF\WGCm�\SM\'�6?@LCKJB�DN?WLEOe�CLOLTLFN?W?E?Fm�B?TmSEJD\�N?@m|�DEBmRGMEF?@p�DL@�H?KJF�N?�HLELHp�KGOFLBEJBeFLRJ�DEBmRIMmp�KmRJFD\�T�CJ@J�DF\WGCJ@�\SMG@p�L�N?Em@TLNB?DJF� K?� DGoG� FDmH� W?E?FJH'� 4?EGCCJS� TF+\TO?FJSDE'�FmDE'�1Bm�?O�F�E?S�WLD�@LF�oLQLE?�DNBLF'

2?N?ReKCm� NBJS�?F� N?B'� <mEGB� T� QLB@?CmfU'� _?� CI?Q?K?ReWJRJ� DE'� FmDE'� 1DRLFJW� T� QLB@?CmfUp� DNmFLOJ� *B?S'� DE'� <JBFLp� DE'� FmDE'� PLSWJOp� DE'� FmDE'� B?S'� <?RJCGMIpDE'�FmDE'�B?S'�̀ B?DRLFp�DE'�FmDE'�B?S'�d?BCJSp�DE'�FmDE'�B?S'�PLFGBUHLpO?@'� 2�� DE'� FmDE'� |LCK'� 4?OmRp� DE'� FmDE'� |LCK'� /LSomKLpDE'�FmDE'�B?S'�PL\MIp�DE'�FmDE'�B?S'�deQLSDEGBp�DE'�FmDE'�B?S'�_eC\pFmDE'�4RJFOL�EL�oLQLE?�mC�JHp�O?EBJH�NDGFK�F|G�CG�NL@+\ELU'=J� TmoBLRJD\� CL� NR?}m� omR\� N?W?Ee'� 0eE� DNmFLRJ� @J� BmTCmNmDCm'

0?Km�|�N?�HLRJ�OjB�ABmCp�oeCW'�N?B'�X?ODGBp�W?E'�N?B'�<mEGBpO?@'�2��DE'�FmDE'�bBm@�m�NFH'��\NOL�OmCI@J�K?�DGRL�XGBGTOJpLRG�DO?B?�FGBCeRJD\'

�� ��� �������W��

4Re|o?FJS� DELB�JCL� N?FmK?@JF� D?ECUp� }?o� eDm� oeRJNBJQ?E?FLCm� CL� 4Re|oe� X?|ep� \OL� FmKNBLFJEID\� DI?Q?KCm� F@mDMGFmS�MGBOFm�T�CLQ?KJ�FmKNeDEe'

6?RJ�D?ECm�NBJ@LB�eFLRJp�F�MGBOFm�F|G�N?WLRLD\�FmKNBLFL':LB?Ke� EeE� TmoBLR?D\� oLQLE?p� @LS|G� T� eDmH� CLFO?RJ�CmH� DmR'XeRJ� EeE� ELO?|� FmBCm� mTjTL� o?RI�GFJMIO?Q?� O?BK?Cep� T� DGRL4?RJCL'� 2?� 4Re|om� X?|mS� K?� CLB?Ke� FJQ?R?DJRJ� O?B?EOeNB?@?Fe�NB?F'�5KLBCJOp�N?Em@�OjB�ABmCp�L�?NmDR\�*�4EGN?FL'2B?@?FJ�oeRJ�Ke|G�NLEBm?EJWCm�S�TF?Be�RJFm'�<�WLD�NB?@?FNLKLRJ�TLORJOJ�CG�N?OJKLEJ�BmKCJH�DmR�m�CG�FJ�TKJEJ�K?�4447'<GDEJ�o?B?EIoe�NB?EJF�oLCKp�\Om�FJQLC\UEI�eOBL�CDIOJS�CLB?KT� S?Q?� NBLKmKmFDIOJH� TG@GRI'� 2mDR\� NB?@?F� W?EJ� mT� DNmF?@FmK@LB�eFLRJ�CL�@mDMG�N?DE?U'��G�K?FQ?�CG�B?TH?KJRJDI�RUKJpL� FDReHLRJD\� F� Q?@mC� NmDGCI'� 4?ECm� KmEF?BJ� omQR?� DRmK?@� TLN?FDELCM\@J'

�?SC?�@J� FGBCeRJD\� CL� OFLBEJBJp� Nm�RJ� F� BeH� FmKBL� T

.Y�

F?K?U'�5Dm�?oRJFLRJD\p�}?o�CG�NB?NLF�eOBL�CDIOJS�TFJWLS�EL}?o�B?TFGDGRJEJ�CLDGRGCC\'

U�����W���W�n���W

<� WLD� ?oRJFLCC\� NBJ�HLF� K?� CLD� OBLS?FJS� NB?F'�1BRLCp=LBmWOLp� ABJDE\p�=LB� m� 5KLBCJO'� ABJDE\� FJRJRL� MmRG� FmKB?F?KJ�CL�?@e�O?@LCKJB?Fm�CL�OLBOp�L�@Jp�CL�TCLO�O?@LCKJBLpFH?NJRJ���p�TLCGDRJ�K?�N?E?Oe�m�CL@?WJRJp�\O�OeBOe'�2?�Q?KJCm?oRJFLCC\�FD\�D?EC\�m�FDG�DGR?�oeRJ�DOeNLCm'�4ELBm�RUKJ�OLTLRJp}?�F��HCm@�DGRm�}G�CmO?RJ�ELO�FGDGR?�CG�oeR?'�7LKmF�m�O?@LCKJBpo?�RUoJF�EmRIOJ�FGDGRG�FmSDIO?'�dLDE?�CL@�Q?F?BJFg��<GDGRJSF?\O�CmO?RJ�CG�oeKG�Ke@LEJ�NB?�CGFJQ?KJ�m�B?KJCep�\Oe�@eDmFTLRJ�JEJ�'� 6?@LCKJB� TLF|KJ� oeF� eD@mHCGCJS� NGBGKDEBmRGMEF?@p�RUoJF�|LBEeFLEJ�S�?N?FmKLEJ'�8RG�CLDNBLFKmp�O?RJCmHE?�CG�oLWJFp�|eBJFD\p�o?�@LF�oLQLE?�OR?N?EmF'

2?� ?omKm� O?@LCKJB� TB?oJF� TomBOe� D?ECm� m� DORLF� TFmEOBLS?F?@e� NB?FmKCJO?Fm'� 2?Em@� NB?FmKCJO� FJQ?R?DJF� K?FQeNB?@?Fe'� 4R?FL� 1BRLCL� FJORJOLRJ� e� DEBmRGMEFL� FGRJOGNmKCGDGCC\'�2?�W?EJBI?H�Q?KJCLH�CGKLRGO?�FmK�CL�?��TLDELFJFmK�DGRL�XGBGTOJ�N?DJNLRJDI�N?DEBmRJ'

2B?FmKCJO�NGBGBFLF�NB?@?Fep�L�O?@LCKJB�KLF�CLOLTg��:LDELC?FJ}L���4L@�O?@LCKJB�DmF�CL�O?C\�m�O?@LCKeFLFp�L�W?EJ�FCGTFJWLSC?�QLBC?@e�N?B\KOe�B?TFJFLRJ�B?TDEBmRICmp�TLS@LUWJDELC?FJ}Lp�L�KBeQL�D?EC\�EL��?DEL�W?EL��NmK�O?@'�OjBL�4ELHL�Nm�RL�CLDEeN?@�F�CLNB\@m�DGRL�XGBGTOJ'

4O?B?�NBJ�HLRJ�CL�m�B?TFmKLWm� T� N?RI?F?��|LCKLB@GBm�� mN?FmK?@JRJp�}?�MG�DEBmR\UEI�MJFmRICm�T�CLQ?KJ�DF\E'�6?@LCKJBFmKORJOLF� LR\B@p� NB?FmKCJO� }G� EBJ� Q?KJCJ� NB?K?F|eFLFNB?@?Fe'�:LNBJOmCMm� DORLF� N?oL|LCC\� CL�?@e� O?@LCKJB?FmpW?E?FJ@�m�DEBmRIM\@�EL�DOLTLFp�}?�CL�L�D?EC\�CL�/G@OmF}JCmCLSOBL}L'�2?oL|LF�CL@�F?\MIO?Q?�}LDE\�m�NmK�?H?B?C?U�B?\OmCC?ECJOmF�B?S'�1BmHL�FmK+�HLF'

����� ���

2mK�BLC?O�D?EC\�FmK@LB�eFLRL�K?�DGRL�7JoC?Q?'�4N?WLEOeNmKmS�RL�K?�CI?Q?�?KCL�W?EL�F�o?S?F?@e�RLKmp�NGBGFmBJRL�DGR?pL�N?Em@�BG�EL�F@LB�eFLRL�Tm�DNmF?@'

.Yq

4GR?�CGFGRJWOGp�LRG�QLBCG'�2?@m|�HLEL@J�NRJFG�oJDEBJSN?EmW?O'�:LKH?KJF�QLBCJS�N?QmKCJS�KGCI'�4EBmRGMEF?�e�FGDGR?@eCLDEB?�� @JfEID\� F� N?E?OLHp� DGR\CJ� T� TLMmOLFRGCC\@� NBJQR\jKLUEID\�K?�CGFmK?@JH�F?\OmFp�O?EBJH�}G�EeE�CG�oLWJRJ'�4GBGKN?FDELCMmF�EeE�@LS|G�CG�oeR?�CmO?Q?�*�fKJCL�EmRIOJ�Oe}?FLQ?DN?KLBCJM\� PGCL'� 8�}G� 0GE\CLp� LRG� F?CL� RJ�JRLD\� F� DGRm�GBKGCMmp�o?��S�o?RmRL�C?QL'

:L�KBeQJS�KGCI�DEBmRIMm�CLR?FJRJ�oLQLE?�BJoJ� m�BLOmFg�LDNGM?@�FmK�MI?Q?�oeF�N?B'�<mEGB'

4I?Q?KCm� T+\FJFD\� N+\ECLKM\EJRmECmS� NLDEe�?Op� }?K?oB?FmRIC?�TLH?EmF�FDEeNJEJ�K?�CL�?��D?ECm'�4F?fU�N?DELF?UMGS�HR?NWJCL�ELO�TLm@N?CeFLF�O?@LCKJB?Fmp�}?�E?S�NBJSC\FS?Q?�K?�D?ECm�m�KLF�S?@e�NDGFK?�2GEBJO'

U���W�����o ��� ��� o�W

2BJS�RJ�OeB+fBJ�T�N?�E?U'�_LC?�CLOLT�FJDRLEJ�DEBmRIMmFCL� NmKDELB�JCDIOJS� FJ�OmR� F� 2GBG@J}JCe'� 2?N?ReKCmO?@LCKJB� FJoBLF� ��� CLSOBL}JH� DEBmRIMmFp� DEF?BJF� T� CJHFJ�OmRICe�W?Ee�m�NGBGKLF�NmK�O?@LCKeFLCC\�W?E'�2BJOeR\p�}?K?Dm�oeF�O?@LCKJB?@�WGEFGBE?��W?EJ'�:L�NB?}LCC\�O?@LCKJBFJQ?R?DJF�NB?@?Fe�K?�FJ�OmRICJOmFp�oL|LF�}LDRJF?��K?B?QJpTLORJOLF�FJFWLEJ�FmSDIO?Fe��EeOep�oeEJ�OLBCJ@J�m�TBLTO?FJ@J'�>KmEI�F�2GBG@J}JCep�RJ�G�CG�TLD?B?@EG�DF?�H�KBeTmF�m�@GCG'>KmEIp�L�\O�FL@�EBLNJEID\�omSp�E?�N?OL|mEI�NGBG@J�R\OL@p�\ORG@OJ� F@mUEI� oJEJ� F?B?QL�'� <mKmS�RJg� OeRG@GECJOJ�1OeCIp4?FLp�7?|Lp��?FCLt�DEBmRIMm�/mD?FJOp�:GTQ?KLp�7Jo?R?Fp�_G@?Cpd?Ep� 2GRC\p� X?S?FJW?Op� 4OLRLp� 4@?Op� <mDOp� 6BG@NCLp� <+UCp0eQLSp� XeSj0eBp�4RJFOLp�1Bm�?Op�6LBLDI� EL� mC�m'� P� F?\OL@JNB?}LRLD\�4EGN?FLp� BG~GBGCEOL� NB?NL�LCKJ� NBJ� CLKBLS?Cm'>KGSCL�m�FmKFL|CL�N?RELFWLCOLp�F?CL�oeRL�K?oBJS�NB?@?FGMI'

���o����R���� y

5FGW?Bm�@J�Be�JRJ�K?�<?RO?FJ�'��G�DGR?�F�@JCeR?@ep� LN?Em@�m�F�@LSoeECI?@ep�oeR?�QCmTK?@�N?RIDIO?��oLCKJ'

5OBL�CDIOG� CLDGRGCC\� NBJSC\R?� CLD� Ke|G�}JB?'� <C?WmEBLNJFD\� MmOLFJS� mCMJKGCE'� _?� HLEJp� KG� OFLBEJBeFLF� N?W?EpNBJ�HLF�CL�O?Cm�K?�KmFWJCJ�?KJC�o?S?FJO�T�?H?B?CC?Q?�FmKKmRe

.Y.

XeO?F?Q?'��G�CG�Em�o?S?FJOJp�}?�F�2GBG@J}JCm'�9H�EBGoL�oeR?}G�oLQLE?�FJH?FeFLEJ�m�FJ�O?RUFLEJ'�<mC�FJDEeOeFLF�NLRJMGUNmFQ?KJCJ�NBJ�FmOCmp�NB?DE?�ELOp�}?o�N?OLTLEJ�DGoG�NGBGK�DF?fUKmFWJC?Up� m� CG� NGBGDELFp� H?W� O?@LCKJBJp� \Om� DNLRJ� F� HLEmpTFGBELRJ� S?Q?� eFLQep� CLFmEI� N?WLF� FmKN?FmKLEJ� ?oBLTRJFJ@JDR?FL@J'�1WGFJKC?p�CL�MG�DEmSO?FJS�TL�CLOLT?@�TLLBG�EeFLFS?Q?p� L�|LCKLB@GBm\� TmoBLRL� NmK� DF?U� ?NmOe'��?SC?� FBLCMmS?Q?� TFmRICGC?'

R���W�]X����t

:L� KBeQJS� KGCI� @LB�ef@?� K?� DGRL� XeOmFM\'� _?� CLDN?FGBCeRLD\�FJ�OmRICL�W?ELp�\OL�FmKmSKG�WGBGT�OmRIOL�KCmFp�o?F�CLDRmK?O�oRI?OLKJ�m�FJDGRGCWJH�H?KmF�NGBGBFLCm�TF+\TOJ'

P�DGRL�XGBGTOJ�NBJ�HLRJ�KFm�L@GBJOLCOJp�?N?FmKLUEIp�}?EL@�<2�NBJDEeNJR?�K?�FJDGRGCC\p�EL�}?�EG�DL@G�FmKoeFLfEID\ELO?|� CL� 4\C?WWJCm'� 7?TFmKOL� K?CGDRLp� }?� F� DGRm� 0GBMmNGBGoeFLf�D?EC\�OjBL�6LB@GRUOLp�\OL�NBJS�RL�T�DGRL�PLF?TLpKFL� B?�� OjBL� =JB?CLp� CLKBLS?C?FJS� NB?FmK� m� ?OBe|CJSBG~GBGCE�oGTNGOJ�/GEeC'��G�oeF�WGEFGBEJS�KGCI�N?�<GRJO?KCmHDF\ELH'� 6?@LCKJB� CLOLTLF� NGBGK� FmKH?K?@� K?� DGRL� 0GBOJFNBLFR\EJD\�F�@LB�m�Tm�DNmF?@p�L�BmS�DE'�FmDE'�1BmHL�@Lf�CLoJBLEJC?F?oBLCMmF� T� MI?Q?� DGRL'� 6?RJ� W?EJ� FJO?CLRJ� TLFKLCC\pNBJS�?F�CLOLT�NBJQ?EeFLEJD\�K?�FmK@LB�e'

���o����"���X

4m@� W?E� m� BmS� OmCC?ECJOmF� N?@LB�eFLRJ� F� CLNB\@m� DGRL0GBOL'�_LRGO?�N?NGBGKe�Nm�R?�CL�G�N?NGBGKCf�TLoGTNGWGCC\'XeF�N?H@eBJS�KGCI'�2LKLF�KBmoCJS�K?}JO'�<?R?QJS�FmEGB��@LQLF?oRJWW\�omSMmF�EL�BFLF�T��HCmH�eDE�o?S?Fm�N?FDELCDIOm�NmDCmp�}?NGBGNRmELRJD\�@m|�D?o?U'

1oLomW�K?B?QJp�N?R\@Jp�omQR?�oLQLE?�KmEGSp�KmFWLE�m�|mC?O'<mKQ?@mC�CL�JH�NmDGCI�TLF@JBLF�KGDI�KLRGO?�F�Q?BLH'�2GB�?U@LB�eFLRL�W?EL�H?B'�1@GRIOL'�5Dm�T�Cm@GMIO?U�ToB?fU'�d?ELCGDRL�KGD\EI�OeRG@GEmF�=�jZ.'�A?B'�1@GRIO?�*�DGBGKCI?�p�@mMC?�oeK?FJp�W?BCm�?Wmp�T�?BRJCJ@�C?D?@p�oeSCJ@�W?BCJ@�F?R?DD\@pWGDLCJ@� K?Q?BJ'� <� QLBCJH� W?omEOLH� m� W?BCJH��ELCLH'� <� o?UFmKFL|CJSp�B?TDeKCJS�m�OLBCJS�O?@LCKJB'

.Y�

PL�CJ@�@LB�eFLRL�KBeQL�NB?o?fFL�W?EL�N?B'�<mEBLp�F?CL@LRL�o?RI�GFJMIOe�ToB?U'�2?B'�<mEGB�@LF�RmE�.�p��LEGCp�K?FQGF?R?DD\p� TLWGDLCG� QRLKGCIO?� K?Q?BJ'� bRLKGCIOG�?oRJWW\p� DJCm?Wmp� DEBeCOJS'��G� ?KWLSKeHLp� NLROJSp� \O� F?Q?CIp� FNGBEJS� Fo?Up� \O� FmEGB'� 0LOG� S?@e� NDGFK?� KLF� O?@LCKJB'� 5oBLCJS� e@eCKJBp�F�\O?@e�FEmO�T�N?RIDIO?��LB@m�'

PL� CJ@J� S�RL� EBGE\� W?EL� @mC?@GECJOmF� OjBL��eNLOL'AR?NMmp� \O� KeoJ'� 6BG@GTCmp� TK?B?Fmp� EFGBKm'� <?CJ� CGDRJ� KFL@mC?@GEJ'

dGEFGBEL� W?EL� �OjBL� 2BJOeR\�� EGNGB� m�RL� NmK� O?@'OjBL� bBLC\'��G� oeRL� W?EL� LFE?@LECJOmF'� 6jB� bBLCI� B?K?@� TAGBD?C}JCJp�O?R?�ZY�B?OmFp�TK?B?F?��oeK?FJp�DJCm�?Wmp�O?B?EOJSFeDp�CL�RJDmS�Q?R?Fm�*�NGERUBmFOL'�4L@�N?FmRICJSp�LRG�TLFT\EJSF�o?Ut�oeF�O?RJDI�@?B\O?@'

_LRm�S�RL�FJoBLCL�W?EL�FJ�OmRICJOmFp�@?R?Km�HR?NMmp�o?S?FmS�QLBCm'�6jB�2BJOeRI�*����B?OJp�DGBGKCI?Q?�TB?DEep�N?DELFCJSpBeKLFJS�FeDJOp�FGRJOL�N?FCL�E?BoL�WGBGT�NRGWGp�H?W�S?Q?�CGRUoJRJ�DEBmRIMmp�LRG�S?Q?�W?EL�DNmFLRL�CLSOBL}G�m�oeRL�CLSomRI�OLBC?U'�<mC�O?RJ�CmS�NmKDELB�JCL�N?RIDIO?��OLFLRGBm�'

2+\EL�W?EL�C?FLOmF�m�RL�NmK�O?@'�OjBL�>ELCUOLp�CLSDELB�?Q?NLBEJTLCL� CL� /G@OmF}JCm'� <JD?OJSp� W?BC\FJSp� DEBeCOJSpmKGSCJS�EL�CGTFJWLSC?�KBe|CmS'�/G@O?�T�2eRLFp�}?�K?�D?ECmNBJFmF�.n�HR?NMmF�Tm�DF?Q?�BmKC?Q?�DGRL'

a?DEL�W?EL�C?FLOmF�NmK�O?@'�OjBL�2LEG~?CL'��GS�O?@LCKJBe\FR\F�D?omp�}?�FmC�CLS@eKBm�JS'�4EBmRIMm�S�O?@LCKJBJ�S?Q?CG�RUoJRJp�L�OjB�ABmC�CLTFLF�2LEG~?C?@'�:L��O?@LCKJB�CGoL|LFp�}?o� F?\OJ� K?oJBLRJ� D?om� mDE?BJWCm� NDGFKLg�=LTGNLp4mBO?p�6BJF?CmD� m�E'� mC'�_LFLF�O?|C?@e�\OGDI�FReWCG�NDGFK?'<mC�TLF|KJ�OLTLFg��1E�oeKG�FJQR\KLEJp�\O�=LTGNL�FEGWG�T�N?R\o?Up�4mBO?�TKGTGBEef'�`OJ@�N?OL|G��DGoG�F�o?Up�ELOG�m�NDGFK?KmDELCG��'

:L�QLBCJH�O?C\Hp�CL�C?FGCIOJH�DmKRLHp�TK?oeEJH�F�o?U�F`DGROe�m�<JD?WLCLHp��HLRJ�N?W?Ep�|LCKLB@GBm\�m�TF+\TOmFMm'

6?@LCKJB� �HLF� CL� DF?f@e� eRUoRGC?@e� NLBEJTLCDIO?@eO?Cm'� <mC� m� OLTLH� 6?R\�*� CLSOBL}m� OmCC?ECJOJ� F� CL�mSD?ECm'� :G� RUoJF� FmC� TLDJK|eFLEJD\� CL� ?KC?@e� @mDMm'� �GFFmS�R?�m�F�CL�e�CLEeBep�o?�@J�CmO?RJ�CG�@?QRJ�FDJKmEJ�CL?KC?@e� @mDMm� K?F�G� KF?HjEBI?H� KCmF'� 6?@LCKJB� FDG� OLTLFg�:LD�|GoB?EL�CmO?RJ�CG�TCLSKGp�LRG�NGBGK�CL@J�ELO?|�CmO?RJ

.YZ

CG�FEGWG�'�<mC�CG�|KLFp�O?RJ�NBJSKG�F?B?Q�m�CLD�oeKG�oJEJp�LFDG��eOLF�S?Q?p�FKLB\F�e�CLSomRI��WeRG�@mDMGp�B?ToJFLF�Lo?FKLB\F�m�FmKDEeNLF'�<�CLDRmK?O�eF+\TCGCC\�F�XGBGTm�6LBEeTIOmSpL�N?Em@�e� �GDELNmFDIOmS� EUB@mp� OmRIO?H�N?BLCGCIp� oeF� Ke|GCGBF?FJS'� 8RG� F� HFJRJCJ� o?U� CG� CGBFeFLFD\p� F@mF� FT\EJDGoG� F� BeOJ'� <� CGoGTNGWCe� HFJRJCe� m�?F� e� CLDEeNp� LDEBmRGMEF?p�N?oLWJF�J�DF?Q?�O?@LCKJBL�N?NGBGKep�Nm�R?�oTL�CJ@�CLFmEI�e�F?Q?CI'�<mCp�}?�e@mF�FH?NJEJ�RG@OmF�TL�DGBMGp\O�K?oBJS�oGDmKCJOp�NDJH?R?Q�m�?BQLCmTLE?Bp�T+fKCLF�D?om�CGEmRIOJ�DEBmRIMmFp�LRG�FDG�CLDGRGCC\�EGBGCep�F�\O?@e�?NGBeFLF'PLF|KJ� FGDGRJSp� |LBEmFRJFJSp� eD@mHCGCJS'� _G� FmC�*� EL@NmDC\'�2mDC\� oeRL� S?Q?� CGFmKDEeNCJ@� KBeQ?@'�:G� BLTp� O?RJF?\OJ�NBJQC?oRGCmp�m�?F�@m|�CJHp�FJNJEeFLFp�Q?F?BJFp�e@mFB?TBLKJEJ'�=LF�oJDEBG�?O?'�PLTKLRGQmKI�NGBGKoLWLFp�O?EBJS@?|G� TKGTGBEeFLEJp� EL� NBJN?BeWLF�|LCKLB@GBm�� DRmKOeFLEJTL� CJ@'�:G� BLT� oeF� De@CJSp� LRG� NGBGK� DEBmRGMEF?@� eKLFLFFGDGR?Q?'� 4EBmRIMmF� DF?�H� TCLF� O?|C?Q?� T?OBG@L� K?ORLKC?':G�BLT�OLTLFp�}?�CG�KLKeEI�DL@m�o?��CL@�E?Q?p�W?Q?�FJ@LQLfNB?FmK'�0BGoL�}G�FGDEJ�N?RmEJWC?jNB?NL�LCKJFCe�B?o?Ee'�=JDE?�@?�CL�@G|LH�5OBL�CJp�CL�QBLCm�EBI?H�KGB|LF'�<GDI�DFmETCLf� NB?� CL�e� o?B?EIoep� E?@e� @eDJ@?� BGNBGTGCEeFLEJ� ��QmKC?'� 2LBEJTLCDIOe� ELOEJOe� TCLF� TCL@GCJE?'� <@mFNB?F?OeFLEJ�F?B?QLp�F?KJEJ�S?Q?�TL�CmD'�<�o?U�@LF�FGRJOG}LDE\p�m�@J�FDm�OLTLRJp�}?�O?@LCKJB�@Lf�RGQOe�BeOe'�<�D?ECmCGCLFJKmF�K?C?}JOmFp�NmKRJTLSOmFp�o?\QeTmF�m�KGTGBEJBmF'�XeFKe|G� L@omECJS'

6jB� 4ELH�*� FJD?OJSp� TK?B?F?�� oeK?FJp� �LEGCp� oeSCGF?R?DD\p� WGDLCG� K?Q?BJ'� <GDGRJSp� RUoJF� DNmFLEJp� L� F� o?UFmKFL|CJS'� �LH?FG� FmSDIO?FG� TCLCC\� FJO?BJDE?FeFLF� CLO?|C?@e� OB?Mm'� P� eDm@J� O?@LCKJBL@J�|JF� e� TQ?Kmp� KBe|ompLRG�}?o�O?Q?DI�DHLBLOEGBJTeFLEJ�Lo?�o?B?CJEJp�MI?Q?�CG�F@mF'0GNGB�FmC�O?@LCKeFLF� KF?@L�?DELCCm@J�W?EL@Jp� \Om� EF?BJRJKBeQe� D?ECU'� _?� LOEJFCJH� KmS� oeF� TLF|KJ� ?H?WJSp� Q?F?BJFE?Kmg��6eBKL�oGRRLp�oeKG@�oJEJD\�'�=m|�O?@LCKJBL@J�4ELH?@p1@GRIO?@p� <mEB?@p� bBLCG@� m� ABmC?@� FDELC?FJRLDI� FGRJOLNBJ\TCI'� >�M\�NBJ\TCI�oeRL�TLN?BeO?U�EJH�eDNmHmFp�\Om�@LRLD?EC\�F�o?\H'�:LDGRGCC\�RUoJR?�MJH�O?@LCKJBmF�ELOp�}?�\OEmRIOJ� KG� N?\FJRLD\� D?EC\p� O?|CJS� BFLFD\� TLNB?DJEJ� �H� K?DGoG'� 4GR?� NBJoJBLR?D\� F� DF\E?WCJS� ?K\Q� m� WLDEeFLR?� WJ@

.Y[

EmRIOJ� @?QR?'�1oJKFL� O?@LCKJBJ� Ke|G� ?NmOeFLRJD\� N?OBJFjK|GCJ@J�DGR\CL@Jp�KLBeFLR?��@�O?CGSp�O?BmF�Lo?�KLFLR?�mC�eK?N?@?Qe'

0BGEm@� oeF� N?RmEFJH?FCJO� D?ECm�*� �\NOL'� <JD?OJSpE?CGCIOJSp� T� K?FQ?U� QeD\W?U��JfUp� L� CL� eDELH� E?� EmRIOJ|LBEJp�DNmFJ�m�DNmFJ'�4F?�@J�~m�R\@J�FmC�B?TFGDGR\F�DEBmRIMmF'XeF�DRLoO?��~mTJWC?��oeK?FJ�m�WLDE?�CGK?@LQLF'�bLBC?�QBLF�CLQmELBm�S�DNmFLF'

XeCWe|CJS�N?B'�X?ODGB�*�DNBLF|CmS�FGRGEGCI'� 9F�@LR?pLRG�WLDE?p�}?NmFQ?KJCJ'�/UoJF�DNmFLEJ�Q?R?DC?p�H?W�CG�@LF�CmQ?R?Dep�Cm�DReHe'�2mDCU��:mCLp�:mC?WOL��FJFWLF�MmRJS�@mD\MI�mFBG�Em� DNmFLF� TRG'� P� CI?Q?� oeF� Ke|G� K?oBJS� LBEJRGBJDEp@mC?@GECJO'� XeF� O?RJDI� DN?BE?FMG@'� <� HFJRJCep� O?RJ� oeFQ?R?KCJSp� RJ�JF� oJ� FDGp� LoJ� EmRIOJ� TK?oeEJ� OLFLR?O� HRmoL'1KC?Q?�BLTep�DL@G�O?RJ�CL�/G@OmF}JCm�oeF�Q?R?Kp�TLS�?F�FmCK?� DGRL� 4EG|CJMmp� K?� HLEJ� D?REJDLp� KG� TLDELF� N?RIDIO?Q?N?BeWCJOL�eB\Ke�oGTNGOJp�TLDEBmRJF�S?Q?�T�NmDE?R\p�L�DL@�eEmO'2BJS�?F�J� TLDLNLCJS� K?� N?FDELCMmFp� DOLTLFg� �:?jC?jC?jC?pF|G@jD\� CL�F'� P+�Fj�@� ?KC?Q?� N?R\OL'� _LSEG� oeRIoJp� o?j@Q?R?KGC�'

4E'�FmDE'�bBm@�*�O?@LCKJB�|LCKLB@GBm�'�<JD?OJSp�DJRIC?�oeK?FJp� oeO?FJCGMI'� _?oBJS� OmCC?ECJOp� RUoJF� OLBCmDEIpN?B\K?Op� L� CGCLFJKmF� TR?Km�F� m� KGTGBEJBmF'� b?F?BJF� DJRICJ@poLBJE?C?FJ@� Q?R?D?@p� Lp� FH?K\WJ� K?� HLEJp� TLF|KJ� OLTLFg�_?oBJS� FGWmBp� @L@eCU�'� XeFLR?� ELOGp�}?� FmK� E?Q?� �K?oBJSFGWmB��QLDRL�RL@NL'�XeF�FmC�K?oBJS�?BQLCmTLE?B�m�O?CDNmBLE?B'

6LTLH�6?R\'�=LRGCIOJSp� OeMGCIOJSp� O?D??OJSp� W?BCJS'<mKFL|CJSp� Ke|G�RUoJF�O?Cm� m� O?oJR\WG�@?R?O?'�:GFmKDEeNCJSF?\O�O?@LCKJBL'�A?KJF�TL�CJ@�eDRmKp�O?RJ�O?@LCKJB�FmKKmR\FD\�FmKD?ECmp� T� Q?E?FJ@�K?�N?DEBmRe� LFE?@LE?@'�_e|G�NBJF+\TLCJS� K?CL�JH� N?FDELCMmFp� FmC� T� EeQ?U� TQLKeFLF� NB?� DFmS� D?C\�CJS6LTLHDELC�m��@L@Oe�'�/UoJF�WJDE?Ee�m�N?B\K?O'�dLDE?�@?RJFD\�K?@mD\M\p�L�O?RJ�DNmFLF�OLTLHDIOm�NmDCmp�E?�T�ELO?U�N?o?|CmDEUp�}?L|�DORLKLF�BeOJ'�<mC�DORLF�NmDCU�NB?�528p�\OL�o?BGEID\�F�6LBNLELHTL�5OBL�Ce�m�6LTLHDELC'�:L�|LRIp�@GCm�CG�FKLR?D\����TLNJDLEJ'

�?SC?� @J� CLoRJTJRJDI� K?� NGB�JH� EGBOmFDIOJH� HLEp� \OeDG�DGR?�m�N?FDELCMm�FJS�RJ�CLTeDEBmW�CL@'�d?EJ�NGBGH?K\EI�T@LB�?F?Q?�RLKe�F�DEBmRGMIOJSp�}?o�NGBGSEJ�ORLKOep�L�KFm�NGB�mNB?o?fFm�W?EJ�mT�DNmF?@�NGBG@LB�eFLRJ�WGBGT�F?Ke'

.YY

:LDGRGCC\p� O?RJ�N?oLWJR?� ELO� QLBC?� FoBLCG�S� ?ToB?fCGFmSDIO?p� oeR?� Ke|G� FBLKeFLCG� EL� CGEGBNR\WG� WGOLR?p� WJ� @JTLOFLBEJBef@?�F�Em@�DGRmp�WJ�NmKG@?�KLRm'

#� n�� ���o�n�������p

4I?Q?KCm�CL�?@e�FGRGECGFm�X?ODGB?Fm�NBJORUWJRLDI�FGDGRLNBJQ?KL'�6jB�ABmC�m�oeCWe|CJS�N?B'�X?ODGB�FJ�HLRJ�CL�OmCCmNGBGQ?CJ� DGR?@'�1o@JCLUWJ� N?KFmB+\p� T� \O?Q?� F?CJ� FJ�HLRJpS?Q?� oGTHF?DEL� O?oJRL� �HFmDE� FEBLEJRL� CL� ~B?CEm�� BLNE?F?N?FGBCeRLp�FmC�FJRGEmF�T�DmKRL�T�?KCmfU�C?Q?Up�TLRJ�GC?U�FDEBG@GCm'� 2mK� TLQLRICJS� D@mH� QR\KLWmF� F?R?WJFD\� ELOOmRIOLCLKM\EI�@GEBmF'�0?�}G�oeRL�K?oBL�O?oJRLp�o?�ELOJ�FFL|LRLCL�DF?Q?�O?@LCKJBL'�2?B'�X?ODGB�N?KGB�D?om�?oRJWW\p�N?E?FORmOEmp�N?�@LEeFLF��ELCJp�L�O?RJ�NmKC\FD\��EB?HJ�QJOLF�p�DOLTLFg�b@'''� Q@'''� Q@'''oeoeoe'''� RL� oJ�@GCG� B?TKGBRL�� _KKKJFmEID\p� e@GCG�QQQ?RJS�TLK?O�'

4@m\RJDI� T� Mmf�� NBJQ?KJ� NB?F'� =LBp� N?B'� 6LB@GRUOpQ?DN?KLBCJO�4OBJEJSp�L�CLSomRI�G�*�@L�JCmDEOJ�_?BL�m�=LBmSOL'

"� ��n�

4I?Q?KCm�CL��O?@LCKJB�oeF�Ke|G�TRJS'�2B?F'�=LB�oLWJFD\T�OjB?@�FmKEJCOe�7GC?@p� m� E?S�DOLTLF�S?@ep�}?�@J�FEGORJ�TmDF?Q?�EGBGCe�Km\CC\p�o?�o?�@?D\�N?R\OmF'�6jB�ABmC�FKLf�FGRJO?Q??o?B?CM\� RG@OmFp� L� EJ@� WLD?@� FEmO'��G� ?oBLTJR?� O?@LCKJBL'4EBmRIMmFp�O?RJ�K?FmKLRJD\�NB?�MG�FmK�DEBmRIMmF�OjBL�6LB@GRUOLpMm�DR?FL�Ke|G�KmEOCeRJ'�:L�L�D?EC\�MmRe�?DmCIp�TJ@e� m�FGDCeF?UFLRLp�L�EGNGB�CG�KLKeEI�CLFmEI�FmKN?WJEJ�OmRIOL�KCmFp�E?Km\O�D?ECm�OjBmF�XmBL�m�6LB@GRUOL�DJK\EI�eFGDI�WLD�m�CG�F?UUEI'_?oB?Q?�O?C\p�O?RJ�FmC�E\QCGp�}G�S�o+UEI'�6jB�ABmC�KLF�CLOLTNBJQ?EeFLEJD\�K?�FmKH?Kep�o?�SKG@?�F?UFLEJ'�7LNE?@�TWJCJRLD\EBJF?QL'�P�<?RO?FJ��F�CL�?@e�CLNB\@m�SKG�KFL�oLELRI?CJ�<2'6?@LCKJB� KLF� CLOLT� TLS@LEJ� Q?BJp� L� D?EC\� OjBL�6LB@GRUOLNBJS@G�?o?B?Ce�F�DGRm'�6?RJ�N?R\OJ�N?WCeEI�omSp�@J�NmKG@?CLDEeN?@�T�QmB�m�B?TEB?}J@?�N?R\OmF'�6?@LCKJB�TLEJBLF�BeOJm�Em�JFD\p�}?�EeE�N?F?Uf'��_?oBGp�HR?NMm��=J��@�EeE�F|LBJ@?ELOp�}?� �@�FmKH?WGEID\�NGBGDGRGCC\��8�F�O?RmCL�KmKLp�}?o�CG@mQ� FEmOLEJ�'

.Yn

0J@�WLD?@�N?R\OJ�B?TFmKLRJp�}?�EeE�NGBGoeFLf�CL�L�D?EC\pm� o?\RJD\� KLRm� NmKH?KJEJp� EmRIOJ� FJDEBmRJRJ� OmRIOL� BLTmF� T@mC?@GEL'�2mDR\�EBJF?QJ�@J�N??omKLRJ�m�FmKmS�RJ�K?�DGRL�2?R\COJ'

�X���Wi�r��S��'�� ����'

<�2?R\COLH� K?ReWJRLD\� K?� CLD� D?EC\� OjBL�=JB?CLp� \OL}?SC?� FGBCeRLD\� T� NB?NL�LCKJFC?Q?� BGSKe� N?� 4R?FLWWJCm'4EBmRIMm� ?o?H� D?EGCIp� }?� CLFGDCm� BLT?@� F?UFLRJp� N?WLRJ?N?FmKLEJ�D?om�DF?��NBJQ?KJp�L�O?@LCKJBJ�*�EG�DL@G'�6jB�=JB?CF�N?KLBeC?O�CL�?@e�O?@LCKJB?Fm�NBJCmD�mT�4R?FLWWJCJ�OmRIOLRmEBmF�B?@ep�EeLRGE?FG�@JR?�m�E'�mC'��G�oeR?�BGFLC�G@�TL�O?CGSm�O?BmFp�\Om�CL��O?@LCKJB�N?KLBeFLF�D?ECm�OjBL�=JB?CLp�O?RJB?ToJF�@mDE?�XeOmFDIO?�NGBGK��H�FmKH?K?@�CL�4R?FLWWJCe'

R� � ���W��X�`Wi� tp�

XeR?�MG�.�EBLFC\'�<E?@RGCm�K?FQJ@�@LB�G@p�@J�FDm�D@LWC?TLDCeRJ'� 1� [jS� Q?KJCm� EBJF?QL'� :LD� ?E?WJRJ� FGRJOm� DJRJN?RIDIO?Q?�FmSDIOL�F�bmWFJM\H'�6?@LCKJB�KLF�CLOLT�FJH?KJEJT�DGRLp�L�DL@�m�DE'�FmDE'�1DRLFJW�FJ�HLRJ�CL�K?B?Qe�OmCI@J'

P�NmFKGCC?Q?�TLH?Ke�FJBJCeRL�H@LBL�N?R\OmFp�Lp�N?oLWJF�JCLDp�N?WLRL�FEmOLEJ�K?�RmDe'��G�oeF�NmKDEeN'�<?B?Q�H?EmFp�}?o@J�S�RJ�TL�CJ@�CLFTK?QmC'�6?@LCKJB�CLOLTLF�@LB�eFLEJ� TLCJ@�m�N?�HLF��FJKO?�FGBHJ�F�CLNB\@m�Q?R?Q?�FGBHL�CL�NmFCmWCJSDHmKp�}?o�?QR\CeEJ�DELC?FJ}G'�7LNE?@�TmDO?WJF�T�O?C\p�NeDEJFS?Q?�m�TLRmQ'�:L�O?Cm�N?OLTLFD\�N?RIDIOJS�?~mMGBp�\OJS�N?WLFOBJWLEJ� RL@LC?U�N?RIDIO?U�@?F?Ug� �2LKHLKmp� CG� DEBGR\MI��0?Km�O?@LCKJB�DO?@LCKeFLFg��2GB�L�W?EL�NBLF?BeW�F�CLDEeN�_BeQL�W?EL�CLDEeN�CL�Q?Be��0BGE\�ORJC?@�omR\�KBeQ?����0mRIOJEG�DOLTLFp�\O�O?R?�CI?Q?�FJoeHRL��BLCLELp�\Oe�OJCeF�?~mMGB'

P� CGWeFLC?U� ?KWLSKe�CmDEU� Nm�RJ� HR?NMm� F� CLDEeN'ae@mRJ�NLNL�OJp��LBO?EmRJ�=�jZ.p�oeoCmRJ��KGHE\Bm�p�M?O?EmRJ�@LODJ@J�p�LHOLRJ�@mC?@GEJ�m�BGFRJ�QLB@LEJ'�<�ELO?@e�o?U�\}G�CG�oeF'�2?R\OJ�NB\@?U�CLF?KO?U�oJRJ�N?�CLD�T� QLB@LEpLRG�CLo?��NLKLRJ�TL�DGR?@�m�F�DGR?p�CL�EJH�N?R\OmFp�}?�CLDEeNLRJTTLKe'�6jB�1@GRIO?�TL~RLCQeFLF��H�TK?B?F?'�2?B'�<mEGB�eBFLFD\F�DGBGKJCep�\�TCJ}JF�N?RIDIO?Q?��@LODJ@WJOL�jNRUE?C?F?Q?pF�\O?Q?�QBeKJ�oeRJ�NBJOBL�GCm�oLQLEI@L�?BKGCL@J��TL�?KFL�G�'

.Yw

2?B'� <mEGB� NBJNLF� K?� �@LODJ@L�� m�|LBJF� T� CI?Q?� N?RIDIOJHQLB@L�mF'�PTLKe�m�DNGBGKe�FJoeHLUEI�@mCJ�m��BLCLEJ'�deEJ�T?SOJm� DE?QmC� F?B?|JH� m� CL�JH� BLCGCJH'� 8RG� Q?R?DCG� �4RLFL��TLQRe�JR?� FDG'� 6jB�1@GRIO?� TK?oeFLf� QLB@LEep� F� N?Q?CU� TLN?R\OL@J� SKG� BmS� �d?BEmF�� DE'� FmDE'� deQLSDEGBL'� PL� Q?KJCeDOmCWJFD\� omS'�=J� TK?oeRJ� ?KCe� QLB@LEe� OLRmoBe� npYp� ?KCeQRJo�G�F�RmDm�N?R\OJ�TmBFLRJp�TK?oeRJ�?KC?Q?��@LODJ@L�p�22apOBmDJp� EBJ� F?TJ� L@eCmMm�� S� mC�G'� <?B?|m� FEBLEJ� T� EJ@Jp�}?FNLRJ�F�DGRmp�DELC?FJRJ�O?R?�Z��Lo?�m�omRI�G'

5� CLD� oeR?� WGEFGB?� BLCGCJH'� 1KJC� N?� K?B?Tm� N?@GBgW?E'�DLC'�_eCLfMI�T�DGRL�4\CmWOL'�=J�TLoBLRJ�TK?oeEe�ToB?U�mNm�RJ�F�CLNB\@m�ABG}LE?���DGR?�_e�LEJC�'�:LDGRGCC\�BLKmR?pN?oLWJF�Jp� }?� CL@� ELO� eDNm�C?� SKeEI� o?�'� 6?@LCKJBNBJTCLWJF�?oDReQe�K?�QLB@LEJp�K?�\O?��FFmS�RJg�DE'�FmDE'�bBm@pDE'�FmDE'�/LSomKLp�DE'�FmDE'�/G@OeDp�DE'�FmDE'�4?OmRp�OeR'�:GER\pDEB'�4RJFOLp�\�m�mC�m'�<?B?Q�Nm�?F�TL�CL@J�F�N?Q?CU'�8RG�@JCG�o?\RJDI�S?Q?p�H?W�DJRJ�F?B?QL�oeRJ�omRI�m'�_LRGO?�FmK�CLDNLKLUEI� LBEJRGBmSDIOm� CLo?�� m� @mCJ'�=LMLUEI� CLD'� <� DGRm_e�LEJCm�FmKN?WJFLf@?p�L�B?S'�`B?DRLF�T�OmRIO?@L�DEBmRIM\@Jm� BLCGCJ@J� FmKH?KJEI� e� QRJoJCe� RmDL'� <?B?Qp� @LUWJ� EGNGB}?CLS@GC�G�KFm�KmFmTm��FmSDIOLp�N?WLF�CLD�oRI?OeFLEJp�LRG�@JNGBGH?KJ@?�BmWOe�1DRLFep� TLS@Lf@?�DELC?FJ}L� m� WGOLf@?�K?FGW?BL'� <?B?Q� TL� CL@J� KmS�?F� F|G� K?�2BGReOp� _e�LEJCL� m=JO?FL'�:mWWU�N?NmK�DL@?U�6?@LCWGU�EBI?@L�NLBL@J�O?CGS@J�RGKFG�NGBGE\QRJ�QLB@LEe�WGBGT�1DRLFJMU�F�XGDOJK'

1DRLFJM\�F|G�FJQCLCL�CL�DELCMmU�K?�@mDEL�PLQmB+\'�/J�GOmRIOL�B?KJC�TLoJBLUEI�?DELCCm�DF?��BGWm'�<�DGBMm�TB?oJR?D\\O?DI��O?KL�EJH�CG}LDCJH�RUKGS'�5�N?FmEBm�FJDmRL�\OLDI�KJFCLEBJF?QL'�/eNOmFDIOJ@J�K?RJCL@J�S�?F�KJFCJS�D@eE?Op�L�Q?BJCG@?F�oJ�NRLOLRJ�TL�DF?�@J�K?B?QJ@J�RG@OL@J'

A%.)��������0���/�' ��� �������/S+��J��� ������� ���/B�, ���&�������

�X���Wi�r��S��'�����'W��� n��X����p������y���]��� �W

5�XGDOJKm�@J�TeDEBmRJ�OjBL�FmKEJCOL�7GCLp�BLT?@�T�W?E?UOjBL�6?BNL'�6jB�7GCp�N?WeF�J�MU�N?KmUp�DOLTLFg��2LCG�oBLEG�0L�EeE�TLBLT�N?R\OJ�NBJSKeEI�p�*�TLoBLF�W?Ee�m�Nm�?F'

.Yk

8� @J� FJS�RJ� CL� N?RIDIO?jDR?FLMIOJS� O?BK?C� m� N?WLRJ?O?NeFLEJD\'�:L�4R?FLWWJCm�EBJF?QL'�XGTeDELCOe�DEBmR\UEI�TOBmDmF�m�OeRG@GEmFp�o?��H�TLLR\B@eFLRJ�N?R\OJ'�4R?FLMIOG�FmSDIO??O?NLR?D\� CGKLRGO?� FmK� O?BK?Ce'�=J� DFJ}G@?� CL� CJH'�=m|FmSDIO?@�ELOJS�oLKI?BJS�CLDEBmSp�}?�FJDELWJEI�FJDRLEJ�?KCeW?Ee� TB?oJEJ� N?B\K?O� CL� 4R?FLWWJCm'� 7?T+U�GCm� N?R\OJFJDGR\UEI� DGRL'� 6?@e� FKLR?D\� FEGOEJp� H?FLUEID\� N?� RmDLH'XLQLE?�DGR\C�m�omR\�CLDp�NBJS�RJ�K?�O?@LCKJBL�BLKJEJD\p�}?@LUEI�B?oJEJ'�6?@LCKJB�FJQ?R?DJF�K?�CJH�NB?@?Fep�L�N?Em@N?BLKJF�TLoBLEJ�HeK?oe�m�NGBGSEJ�F�QRJoJCe�DR?FLMIO?Q?�RmDepo?� EeE� TLBLT� oeKG� omS'� 4GR\CJ� NRLOLRJ� T� D@eEOep�}?� F?B?QFJQLC\f��H�T�BmKCJH�DmR�EL�}?��@�K?F?KJEID\�OBJEJD\�N?�RmD?FJHCGEB\H'

0J@�WLD?@�T?BMm�N?FmK?@R\UEIp�}?�F�CL�?@e�CLNB\@m�SKGOmRIOL�D?EGCI�N?RIDIO?Q?�FmSDIOL'�<Dm�@J�Nm�RJ�CL�DELC?FJ}LpL�F?CJ�oeRJ�NGB�?B\KCm�*�CL�DL@?@e�HBGoEm�XGDOJKep�F�DELBJH~B?CE?FJH� Cm@GMIOJH� ?O?NLHp� NB?EJ� DGRL� _?F|JMm'�2?R\OJpN?WeF�J� �NJDI@?� C?D?@�p�}?� @J� �@� EeE� @?|G@?� DNBLFJEJK?oB?Q?�ReNC\p�CL�FmKKLRm�w���@GEBmF�N?FGBCeRJD\� m�Nm�RJ�K?DGRL�6?@LCWm'

6?@LCKJB�N?RIDIO?�� QLB@LEC?�� oLELBG�� KmDELF� FmDm@�B?OmFF+\TCJMm�TL�EGp�}?�FEBLEJF�QLB@LEe'

XLQLE?�CL�JH�DEBmRIMmF� m�O?@LCKJBmF�KmDELR?�N?HFLRe�FmKO?@LCKJBL� TL� FmKFLQe� e� o?U'� `� KmDELF� N?HFLRe� TL� EGp� }?TCG�O?KJF� N?RIDIO?Q?� NRUE?C?F?Q?� �@LODJ@WJOL�'� 7e�Lf@?KLRm� CL� FmSCe'� >KG@?� o?B?CJEJ� eOBL�CDIOG� CLDGRGCC\� FmKFJDGRGCC\'�4GRL�_?F|JM\p� dJDE?Q?Bo� m� <JDRmO� N?B?|Cm'� <DGCLDGRGCC\�FEGOR?�F�RmDJ'

U���X���������#����X�W���'3p��

<�2?R?CCmS� m� 6L@+\C?@e� TLOFLBEJBeFLR?� KFL� N?RIDIOm�LBCmT?CJp� }?� |LHRJF?� OLEeFLRJ� eOBL�CDIOG� CLDGRGCC\pFJQLC\RJ� CL� DELCMmU� K?� PLQmB+\p� NBJ� K?N?@?Tm� N?RIDIO?Q?CLDGRGCC\�QBLoeFLRJ�S?Q?p�LBG�E?FeFLRJp�OLEeFLRJ�DJ@NLEJOmFCL�?Q?�BeHep�NLRJRJ�DGRL�m�B?oJRJ�?oRLFJ'�<?B?|m��LBCmT?CJN?oeKeFLRJ�D?om�CL�FmKEJCOLH�DmRp�F�\OJH�OFLBEJBeFLRJp�?O?NJm�oeCOGBJ'�6jB�ABmC�N?KmRJF�FmSDIO?�CL�KFm�WLDEJCJ�m�CmWWU�q�oGBGTC\� FKLBJF� ?KC?WLDC?� CL� ?oJKFL� �LBCmT?CJp� B?ToJFLUWJ

.n�

�H� eNGCI'� PCJ}GC?� oRJTIO?� ��� N?RIDIOJH� F?\OmFp� KF?HN?BeWCJOmFp�TK?oeE?�OeRG@GEJp�OBmDJp�oLQLE?�L@eCmMm��m�O?CGS'

=J�@LRJ� EB?f� BLCGCJH� �FL|O?� BLCGCJS� OeBmCCJS� RmOLBKjB�7LEp�DEB'�4?R?FmS�m�DEB'�>FLDJO�'

<�2?R?CCmS�@J�FJTF?RJRJ�KF?H�DmRIDIOJH�HR?NMmFp�=JHLSRLS� _@JEBL� /eOLWmFp� m� ?KCe� KmFWJCep� =LBmU� XLTLBp� }?� �HN?RIDIOJS�OLNmELC�F|G�FJFmF�B?TDEBmRUFLEJ�NmK�HLEe'

6?@LCKJB�TK?oeF�D?om�QLBC?Q?�O?C\p�NB?�O?EB?Q?�@?|CL�oNJDLEJ�MmRe�mDE?BmU'�6mCI�oeF�Ke|G�@eKBJS�m�KBGD?FLCJS'�>C�JHO?CGS� @J� NGBGKLRJ� BLS?C?F?@e� Q?DN?KLBCJO?Fm� <mS?Fmp� FmCNB?KLFLF��H�CL�4R?FLWWJCm'�2?�o?\Hp�\Om�\�@LF�e�EmS�D?ECmp�eDUTK?oeEe� HeK?oep� ?K\Qp� O?Cm� B?TKLF� O?@LCKJB� omKCJ@� RG@OL@'6BL}JH�O?CGS�NB?KLFLFp�L�QB?�m�NGBGDJRLF�K?�ABJDEm'

_e|G�QLBC?�FJQR\KLR?p�\O�@J�FmKKLFLRJ�DGR\CL@�N?�O?|Cm@o?U��HCm�BGWmp�N?QBLo?FLCm�N?R\OL@J'�5�2?R?CCmS�TK?oeRJ�@JOmRIOL�@m�OmF�T�FJ�JFOL@Jp�?K\Q?@�m�FTeEE\@p�}?�oeRJ�FRLDCmDEUDGR\C�T�2?R?CC?�p�2BJ�o?FL�m�6LBRJO?FL'

R �����p

:L�EGBJE?Bm��Km\CC\�CL�?��D?ECmp�\O�B?TN?FmKLRJ�@GCm�DEBmRIMmpFJDGRGCC\�N?WLR?D\�F|G�F?DGCJ�qkZ[�B?Oe'�0?@e�}?�CL�L�D?EC\FDU�?DmCIp�TJ@e�S�FGDCep�O?RJ�@GCG�}G�F�D?ECm�CG�oeR?p�B?ToJFLRLeDm��LBCmT?CJp�\Om�EmRIOJ�N?\FJRJDIp�FJDLKJRL�TLRmTCJWCJS�@mDEF� PLQmB+�p� TCJ}JRL� TLRmTCJWCJS��R\Hp� oLQLE?� @?DEmF� CL� RmCm�PLQmB+\�*�/eNOmF�EL�@?DEJ�CL��?DG�0LBCLFL�*�6?@LCWLp�<?RJM\*�XeOmFDIO?�*��LFCGp� F?B?Q� CG�@LF� DJRJ� TBGLRmTeFLEJ� DF?�KJOm� NR\CJ'��GBEF?U� FNLRJ� EmRIOJ� DGRLp�}?� oeRJ� CL� RmF?@eoGBGTm�4\Cep�CL�NmFCmW�m�NmFKGCI�FmK�4\C?OLg�PLQeEJCIp�2?DE?RmFp4E?B?|m�<GRJOm�S�4E?B?|m�=LRm�EL�_eoBmFOL'

:LE?@mDEI�FmK�q�EBLFC\�qkZY�B?Oe�F?B?Q�NmKOBmNJF�DF?��DJRJpOJCeF�?KCe�KJFmTmU�m�N?WLF�FJDGRGCC\'�=J�oJRJD\�T�O?|C?UFJDGRGCW?U� QBeN?U� CL� CL�?@e� EGBGCm'� <?B?Q� OJCeF� CL� CLDCLSomRI�m� DJRJp� \Om� @LF� K?� KJDN?TJMm�p� o?� CLD� E?Km� CmHE?� CGFmKE\|eFLF'�4?EC\�OjBL�X?BL�m�OjBL�_mKJOLp�TL�@LRJ@J�FJNLKOL@JpCG�LELOeFLRJ�F?B?QL'

4OBmTI�FmKoeFLRJD\�NB?E\Q?@�EBLFC\�m�WGBFC\�FGRJOm�?oRLFJ�mFJDGRGCC\'� b?B\EI� DGRLp� OBeQ?@�NLMJ~mOLMm�p� F?B?Q� F� DeNB?F?KmELCOmFp� NmH?EJ� m� OmCC?EJ� FJQLC\f� DGRLp� L�@J� EG|�CG� KLB@ef@?'

.nq

<JDGRGCC\�EB?HJ�NBJQC?oJR?�DEBmRIMmFjRG@OmF'�:?FJOJ�N?WJCLUEIKGTGBEeFLEJp�}?o�FJ�HLEJ�BLT?@�T�B?KJCL@Jp�LRG�O?@LCKJB�T@mMCJF|LCKLB@GBmU�m�TLN?omQ�KLRI�?@e�KGTGBEeFLCCU'�<�WLD�FJDGRGCC\@J� CG� EmRIOJ� CJ}JRJ� @?DEJp� B?ToJFLRJ� F?B?|m� �LBCmT?CJ'6?@LCKJB�C?WL@J�N?� DGRLHp� FKGCI�*�N?� RmDLH� B?oJF� To?BJ� TDGR\CL@Jp� TLORJOLFp� �H�}?o�CG� �HLRJ�CL� DHmKp� o?� �H� EL@� WGOLfQ?R?K?FL�D@GBEI�m�@?DO?FDIO?jo?RI�GFJMIOL�CGF?R\'�2B?�CLD�m�RL�JB?OL�DRLFLp�CLDGRGCC\�RUoJR?�CL�e�D?ECUp�o?�F?CL�oeRL�fKJCLp}?�DORLKLRLD\�T�RG@OmF'�6jBL�ABmCL�FDm�RUoJRJ�m�DReHLRJp�E?@eoLQLE?�DGR\C�CG�N?�HLRJp�L�Nm�RJ�F�RmDJ'

0eE�}G�TQLKLU�KFm�FJRLTOJ�F?B?|?���NB?NL�LCKJ�'��?SC?CLFGDCm�FmKmS�RJ�F�NB?NL�LCKJFCJS�BGSK�CL�4R?FLWWJCe�D?ECmOjBL�X?BLp�OjBL�=JB?CL� m�OjBL�6LB@GRUOLp� \O�<2�N?WLR?�N?DGRLH�NGBGO?CeFLRJ�RUKGSp�}?o�F?CJ��CG�WGOLRJ�F|G�5OBL�Ce�po?�D?ECm��FmKmS�RJ�NmK�8@GBJOe�'�<�?O?RJM\H�7J@LC?FL�m�̀ DRJDIONeDEJRJ��OLWOe�p�}?�D?EC\�OjBL�ABmCL�FmKmS�RL�CL�DHmKp�m�F�EeN?RIDIOe� CGoJRJMU� N?FmBJRJ� DGRL�2eRLFJp� <?R\� 4GCIO?FLp2?R\CJ�4eB?FJWCmp�<?R\�<J|C\p�<GBCJ�FOL�m�PLF?�'�0L@�N?QLC?FmKTCLWJRJD\� DGR?�_LBmFp� \OGp� H?W�@LR?� CLFO?R?� FGRJOm� RmDJpN?�HLR?�oGT�CLS@GC�?Q?�?N?Bep�L�ELO?|�DGR?�4eB?FJM\'

2mDR\� E?Q?� \O� @J� B?ToJRJ� �LBCmT?CJ� F� 2?R?CCmS� m6L@+\C?@ep� O?@LCKJB�N?KmRJF� ?oJKFm� D?ECm� CL�@GC�m� QBeNJ� mB?TmDRLF� N?� EGBGCe� FGDEJ� NB?NL�LCKe� m� LELOeFLEJ� F?B?QL� CL@mDMmp�}?o�FTLf@C?�DGoG�FmKE\|eFLEJ'

<�MI?@e�FJDGRGCCm�F?B?Q�FJOJCeF�T�BjCe�2eQLWL�k��FmKD?EOmFCLDGRGCC\� �o?� EL@�CLD�CG�oeR?�p� T�BjCe�/GFOL�*�Y�� m� T�BjCed?BC?EJ�n��FmKD?EOmF'��0eE�@J�omRI�G�o?B?CJRJ�'

:LDGRGCC\p�}?�RJ�JR?DIp�L�BLK�G�FB\EeFLR?DIp�EL�EGp�}?S?Q?�@J�FmKoJRJ�e�F?B?QLp�CG�FGBELR?DI�}G�K?�DmR'�4GRL�oeRJTBeSC?FLCmp�N?QBLo?FLCm�CG�EmRIOJ�<2p�LRG�ELO?|�MJFmRICJ@JN?RIDIOJ@J� oLCKL@J� mT� DmR� bReo?OLp� :?F?FLMIOLp� 2?ofKCLp:fof}LC� EL� mC�JH'� 0eE� TQLKLU�}Gp�}?� F� @mDEGWOLH� PLQmB+�pPLB�JCm�DNGMoLCKJ�N?QBLoeFLRJ�FJDGRGCMmFp�CLFmEI�TLoBLRJ�SEGp�}?�F?CJ�F�?DELCCU�HFJRJCe�FB\EeFLRJ'��m�oLCKJp�BLT?@�T=1�m�5X2p�FmKoJBLRJ�QB?�mp�O?�E?FC?DEmp�omRJTCep�?K\Qp�FTeEE\pHeK?oep�O?CGSp�LBG�EeFLRJ�DFmK?@JH�DGR\Cp�NGBGFL|C?�@?R?KIpL� oLQLE?� T� LBG�E?FLCJH� FJF?KJRJ� CGFmK?@?� OeKJ� m� FoJFLRJ'=?|CL�o�CLFGDEJ�oLQLE?�NBJORLKmF�@?BKeFLCC\�F|G�CL�DELCMm\Hp?KCLO�N?�ELO?@e�WLDm�S�N?�ELOJH�N?EB\DmCC\Hp�\Om�\�NGBG|JFpFL|O?�N?KLEJ�E?WCm�KLCm'

.n.

�G� RJH?RmEE\� m� �KG@?OBLEJWCJS�� o?RI�GFJMIOJS� EL�?oJFLEGRIDIO?jN?RIDIOJS��EGB?B�WGOLf�B?TNRLEJ'

PLBLT�F�RmDLH�FmKoeFLUEID\�?oRLFJp�<2�DEBmR\f�T�OeRG@GEmFN?�MJFmRICJH�RUK\Hp�L�T�@mC?@GEmF�*�N?�F?QCJ}LHp�\Om�NLRJRJCG}LDRJFm� FEmOLWm'� 1DI� ELOJS� FJNLK?O� oeF� e� RmDm� O?R?� DGRL<JDR?OLp�KG�@mCL�FNLRL�F�DL@G�F?QCJ}Gp�NBJ�W?@e�N?oJE?�oLQLE?|mC?O�m�KmEGS'

2?�RmDLH�@?|CL�TeDEBmEJ�oLQLE?�O?RJo�T�WLEJCC\p�DGR\CDIOmF?TJ� T� @LSC?@p� HeK?oe� m� O?Cm'� 6?|CG� DGR?� @Lf� DFmS� ELomBpEBJ@Lf�DEmSOJp�CL�FJNLK?O�CLDEeNe�F?B?|?Q?�FmSDIOL�FEmOLf�FQRJoJCe�RmDep�L�@LSC?�NB?NLKLf'�:L��O?@LCKJB�KLF�CLOLTp�}?o@J�DELR?�OFLBEJBeFLRJ�O?R?�DGR\Cp�L�CL�FJNLK?O�CLNLKe�F?B?QLFmKoJFLRJ� RUKGS� Lo?� NBJS@LRJ� omS� ELO� K?FQ?p� N?OJ� DGR\CJN?FEmOLUEI'�XLQLE?�DGR\C�OBJfEID\�F�DR?FLMIOJH�RmDLH'

]X�����o� ���

P�NBJWJCJ�oGTCLDELCCJH�o?�F�e�CLD�oeR?�F|G�oLQLE?�BLCGCJHF?\OmF'�<�CLDRmK?O�N?QLC?Q?�HLBWeFLCC\p�o?�KGO?RJ�DEBmRIMm�@eDJRJ�DEJ�RJ�G�DJBG�@+\D?�Lo?�EmRIOJ�WGBG�Cmp�F�CLD�N?\FJRLD\�WGBFmCOLp\Oe�@J�RmOeFLRJ�NGWGC?U�oeRIo?U'�0?@e�DL@G�FJBJCeRL�N?EBGoLoeKeFLEJ�DF?U�FRLDCe��NJELRIOep�EJ@�omRI�Gp�}?�TLC?DJR?D\�}GCL� C?Fm� o?�'� 6?@LCKJB� FJoBLF� NGFCJH� F?\OmF� NmK� O?@LCK?UOjBL�4ELHL�BLT?@� Tm�@C?U� m� FJDRLF�oeKeFLEJ��NJELRIOe� F� RmDmXeO?FJMm'�`OBLT�B?o?EL�oeRL�F�N?FC?@e�H?Kmp�\O�CLDO?WJF�CL�CLDF?B?Qp�@J�TFGRJ�omSp�L�B?o?Ee�@eDmRJ�TLRJ�JEJ'

]W��X�#� � oW����'X�W�W

<� E?S� WLD� O?@LCKJB� T� N+\EI?@L� W?EL@J�@LF�omS� T� ?KCJ@N?RO?@� <2� F�2BJoJ�mFDIO?@e� RmDm'� XmS� oeF� Ke|G� FGRJOJS� mOBJFLFJS'� 6?@LCKJBp� @LUWJ� HJoCm� KLCm� FmK� B?TFmKLWLOe}'�=LOLBGCOLp�}?�SKG�n��N?R\OmFp�TB?oJF�CL�CJH�TLDmKOe'�:LTLDmKOe� FJS�RL� ?KCL� W?EL� <2p� L� TL� CGU� �HLRJ� EBJ� QLB@LEJOLRmoBe�Z[p�CL�EBI?H�F?TLH�*�@mC?@GEJ�m��@LODJ@J�'�2?RIDIOeW?Ee�NGBGoJE?�ELOp�}?�@LR?�HE?�FJBFLFD\p�LRG�F?B?Qp�\OJS�S�?FTTLKep� FKLBJF� CL� CL�e� D?ECU� m� CLOJCeF� QBeN?FJS� omS� e� RmDm':L�L�D?EC\�N?�EBI?H�Q?KJCLH�o?U�FmKDEeNJRLp�L�N?Em@�O?@LCKJBCLC?F?�T~?B@eFLF���p�m�D?EC\�Nm�RL�CLDEeN?@�CL�DGR?p�FJQLC\UWJ

.n�

N?R\OmF'�<?B?Q�@LF�E?Km�Zk�eoJEJH�m�O?R?�D?ECm�BLCGCJH'�5�CLDTLQJCeF�DRLFCJS�B?S'�deQLSDEGBp�DEB'�6BeO�m�DEB'�b?Reo'

PL� KFL� Lo?� EBJ� KCm� MGS� N?RO� @LF� TeDEBmEJD\� T� WGH?jDR?FLMIOJ@� N?RO?@� CL� O?BK?Cm� @m|� DGRL@J� <JDR?O?@� EL6LRJC?F?@'�<?CJ�@LRJ�B?oJEJ�DNmRICe�?oRLFe�CL�OmRIOL�EJD\WDGR\C�mT�DmR�7LK?�JMIp�_?F|JMmp�6?@LCWmp�dJDE?Q?BoLp�<JDR?OLp7GNGKmp� `FmBCJOLp� 2?R?CC?�p� 6LBRJO?FLp� 2BJoJ�GFLp� <?Rm2GEB?F?�p�6L@+\C?Q?�S�mC�JHp�}?�EL@�DH?FLRJD\'

#������tWp� i��W�

2?RI}Lp� K?@?FJF�JDI� T�dGH?j4R?FLWWJC?Up� CL@?FJRL� ��N?o?BUFLEJ�CL��BeH'�dGH?j4R?FLMIOL�:LB?KCL�XGT?NLDC?DMINeDEJRL�WeEOep�}?��H�eB\K�NBJS@G�eDmH�FEmOLWmFjRG@OmF�K?�EJHDmRp�T�\OJH�FJDGRJF�@LK\BmF'�A?W�O?@LCKJB�NGBGDEGBmQLF�DGR\Cp}?�MG�o?RI�GFJMIOL�NB?F?OLMm\p�LRG�KG\Om�CG�N?DReHLRJ�m�N?�HLRJCL�FJTCLWGCG�DR?FLMIOG�@mDMG'

U�o��o�X��

2mDR\�2BJoJ�mFDIO?Q?� o?U� D?EC\� N?KLRLD\� TL� O?BK?C'4R?FLOJ� Ke@LRJp�}?�@J� N?R\OJp� L� O?@LCKJB� TB?oJF� D?ECGU�@m�?O�� m�FNeDEJF�OmRIOL�W?E�DR?FLOmF� m��ELo�N?ROe�CL�W?Rm� T@LS?B?@� WGH?@� FDGBGKJCe'� 2mDR\� E?Q?� O?@LCKJBp� eKLUWJN?RIDIO?Q?� DELB�JCep� FJNJELF� FmK�@LS?BL� FDGp�}?�S?@e� oeR?EBGoLp�FmKBGO?@GCKeFLFD\p�}?�FmC�O?@LCKJB�QBeNJ�528p�}?�E?SN?RIDIOJS� O?@LCKJBp� \OJS�@LF� DI?Q?KCm� T� CJ@� TeDEBmEJD\p� CGNBJSKGp� o?�S?Q?�B?ToJE?� EBJ� KCm� E?@e�O?R?�2BJoJ�GFL'�_LRmTL\FJF�@LS?B?Fmp�}?� FmC� BLT?@� T� FmSDIO?@� ?E?WGCJS� m� \O}?FNLKG�H?W�?KJC�N?DEBmR�T��HCI?Q?�o?Oep�E?�F?CJ�FDm�EeE�NB?NLKeEI'�=J� T� FL@J�CG� F?Uf@?p�@J� o+f@?� EmRIOJ� o?RI�GFJOmF� m� �HCmHCLS@JEmFp� L� EGNGB� NBJS�RJ� CL� ?H?B?Ce� CL�?Q?� CLDGRGCC\�'6?@LCKJB� DOLTLF� WGDIO?@e�@LS?B?Fmp�}?o� CmHE?� CG� FL|JFD\QBLoeFLEJ�S�LBG�E?FeFLEJ�CL�G�CLDGRGCC\p�o?�TL�MG�FmC�TCJ}JEIeDm�NBJO?BK?CCm��LBCmT?CJp�\Om�oGBeEI�eWLDEI�F�CJCm�CmS�?oRLFm'dGHj@LS?B�Tm�DEBLHe�E?�EBG@EmFp�E?�oRmK'�Po?Oe�DE?\F�DR?FLMIOJSRmOLB�m��GN?EmF�O?@LCKJB?Fm�CL�FeH?g��=LS?B�*�O?@eCmDE�'�8RGO?@LCKJB�CmW?Q?�CL�MG�CG�FmKN?FmKLFp�o?�F�CLD�E?Km�oeRL�TLo?B?CLTLWmNLEJ�DR?FLMIOG�FmSDIO?p�HmoL�}?�F?CJ�CLD�TLWGNJRJ�o'�1NmDR\

.nZ

TLOeBJRJ�D?omp�N?NB?}LRJD\p�m�N?Em@�O?@LCKJB�FmKNB?FLKJF��ELoN?ROe�\OJH�����@GEBmF�WGBGT�CL�m�TLDmKOJ�m�FGBCeFD\'

6?RJ�@GCm�NB?�MU�N?KmU�?N?FmKLF�OeR'�:GER\p�E?�\�L|�TL|JFmE�oBLFD\p�\Oe�E?�@J��EeOe�FBmTLRJ'�<mC�DOLTLFg��4R?FLOJNBJS�RJ� F� Cm@GMIOJH�@eCKJBLHp� T� C?FJ@J�22a�N?� ?KC?@eBm|O?Fmp�L�OeRG@GEJ��KmHE\Bm��oGT�KJDOmF��oeRJ�F�E?BoLH�p�FmO?CM\N?TLEJOLCmp� m�RJp� \O� CL� NB?QeR\COe'�1~mMGBJ� FDmp� L� T?OBG@L�ELop�oeRJ�T�C?FGCIOJ@J�NmDE?R\@J'�`�EBJ@LF�=�jZ.p�Q?E?FJSK?�N?DEBmRep�m�WGOLF�EmRIOJ�HFJRJCJp�O?RJ�HE?DI�N?FGBCG�NmDE?RICL�@?Q?�O?@LCKJBL'�XeF�oJ�FmKBLTe�DO?DJF�?KCmfU�DGBmfU'�:L�mBLCGCm��TKJRJ�CL�QLBCJH�?DmKRLCJH�O?C\Hp�DR?FLOjRmOLB�?QR\CeF�H'� P� eDmH� DE?BmC� T� Oe}mF� m� ?O?NmF� FJQR\KLRJ� KeRL� CL�JHOeRG@GEmF'�P�O?@LCKJB?@�}G�K?FQ?�Q?F?BJF�N?RmEBeO�N?ROe�*@?DOLRIp� \O?Q?� O?@LCKJB� NJELFp�}?� FmC� B?oJEI� e� DR?FLMIOmSLB@m�'� <mC�}?DI� FJNJEeFLF� TL� 528p� LRG� O?@LCKJB� S?@e� EL@oLQLE?�Q?F?BJFp�L�CLBG�Em�DOLTLFp�}?�FmC�o?RI�GFJMIOJS�L�GCE'_e|G�FGRJOm�?Wm�TB?oJRJ�DR?FLOJp�L�T?OBG@L�N?RmEBeO�@?DOLRIpO?RJ�N?oLWJRJ�OLTLHL�6?RUp�LRG�6?R\��@�eDm@�Q?R?DC?�Q?F?BJFg�6?R\�F?S?FLR�TL�?KKfRICL�BGDNeoRmOL�T�eOBL�C�528'�=?DOLRoLCKJEp�TLF?S?FLR�6LTLHDELCp�KLR�O?RQ?DN�m�4JomB�'

4R?FLOJp� \Om� NB?H?KJRJ� omR\� CL�JH� OeRG@GECJOmFp� \O?N?FmKLF�@GCm�FmDE'��eOLp�OLTLRJg��=J�DG@�oBLE\p�CG�DEBGR\S�'

:L�L�D?EC\�NGBGNeDEJRL�DR?FLOmF�m�FmKmS�RL'�1NmDR\�Ke|G�O?KeFLRJ�DEBmRIMmp�L�ELO?|�m�DL@�O?@LCKJBp�}?�CG�B?TToB?�RJ�Hp� o?� TL� OmRIOL� KCmF� O?@LCKJB� ?KGB|LF� N?FmK?@RGCC\� oJEJWGHmF�ELO�DL@?p�\O�N?R\OmF'

4R?FLOJp�\Om�NGBGKLFLRJ�CL�TomBCJS�NeCOE�CL�JH�RG@OmF�FDGRL� `DGRO?� m� 7LK?�JMmp� F� oLQLEI?H� FJNLKOLH� CG� WGOLRJ� CLN?R\OmFp�L�BLKJRJ�FEmOLEJ'�/G@OmF�N?R\OL@�NGBGKLFLRJ�NGBGFL|C?DR?FLMIOm�NLBEJTLCJ�Lo?�WGHJ'

2mDR\�E?Q?�CL�L�D?EC\�TCJ}JRL�FJDGRGCG�DGR?�=HLFep�F\O?@e� TL@G�OLRJ�N?R\OJ'

V�oW���s

7LT�D?EC\�OFLBEJBeFLRL�F�DGRm�6LRICJMm'�7?TFmKOL�K?CGDRLp}?�N?RIDIOm� oLCKJ�Ke|G�WLDE?�CLNLKLUEI�CL� DGR?'�0eKJ�Nm�RLCL�L�D?EC\p�KG�NGB�L�W?EL�OjBL�1@GRIOL�TeDEBmRLD\�T�QBeN?U�52X�n��W?R?FmO�p�TFGRL�omSp�m�F?B?Q�FmKDEeNJFp�@LUWJ�?KC?Q?�FoJE?Q?'

>C�L� QBeNL� CL�?�� D?ECm� DNLRJRL� DGR?� _eKJCMmp� T� \O?Q?

.n[

FJDGRJRJ� eOBL�CMmF'� 6jB� 1BmH� T� KF?@L� B?\@J� FmKmS�?F� e0BJOeECJO�TL�HeK?o?Up�o?�F�CLD�F|G�CG@Lf�W?Q?��DEJ'

>C�L� CL�L� QBeNL� B?ToJRL� oLCKe� 52X� F� DGRm� dL�JCm'6jB�bBLCI�mT�DF?fU�W?E?U�TCJ}JF�eKBeQG�@mDE?�XeOmFDIO?p�\OGN?WLR?� FmKoeK?FeFLEJD\� KGBGF?@� T� CL�JH� FJDGRGCJH� DmR'2?B'� <mEGB� T� ?KCmfU� CL�?U� QBeN?U� Nm�?F� CL� TLDmKOe� K?<GRJO?N?R\�m�PLQmB+\'

RW��W����Xn�s�����W

P�N+\E?��m��?DE?��W?EJ�O?@LCKJB�T?BQLCmTeFLF�KBeQe�D?ECUp\Oe�NGBGKLF�NmK�O?@LCKeFLCC\�OjBL�4ELHL'�0m�JFD\�CGU�O?@LCKJBpo?� @LF� WJ@� F?UFLEJ'� 4L@G� E?Kmp� \O� @J� @LRJ� SEJ� TCJ}JEJoLCKJEDIOG�DGR?�:fof}LCJp�N?OLBLEJ�S?Q?�TL�FJ@?BKeFLCC\�BLT?@T� <2� DGRL� PLFLKOL�=?B?HmFDIOLp� TCJ}JEJ� PLQmB+\� TL� QBLom|FJDGRGCMmFp�L�N?Em@�NmEJ�K?�7J@LCmFDIO?��QLBoLBCm�N?��OmBe�m�CLoeROJ�K?�_eORmp�O?@LCKJB�?KGB|LF�CLOLT�FmK�OjBL�FmKEJCOe�7GCLFmKKLEJ�KBeQe�D?ECU�NBJoeR?@e�T�2GBG@J}JCJ�H?B'�6BJRLWGFm'�\�N?Km\�N?QLC?�FNRJCeRL�CL�DEBmRIMmFp�L�}G�QmB�G�*�CL�O?@LCKJBL'2GBGKLWL� KBeQ?�� D?ECm� FmKoeRLD\� F� DGRm� 7GNGKm'� 6?@LCKJBpNB?}LUWJDI�T�DF?�@J�DEBmRIM\@Jp�NRLOLF'�P�EmfU�D?ECGU�FmKmS�?FELO?|� OjB�4ELHp� FJO?CeUWJ�~eCOMm�� W?E?F?Q?'� _BeQL� D?EC\FmKmS�RL�F�2GBG@J}JCe'

U���������q���Wr�������W��������W

0GNGB�RJ�JRLD\�EmRIOJ�NGB�L�D?EC\p�W?EJBJ�W?EJ'�<mSDIO?FJ�O?RGCGp�TLQLBE?FLCGp�L�}?�CLSFL|RJFm�G�*�NGFCG'�6?RJ�F?B?QF|G�K?FmKLFD\p�}?�F�CLD�@GC�G�FmSDIOLp�FmC�N?WLF�TL�CL@J�H?KJEJD@mRJFm�G'�6?@LCKJB�FT\FD\�CL�DN?Dmo'�d?EJ�FJDRLF�CL�?NGBLMmUpL�DL@�T�CGFGRJWO?U�QBeN?Up� m�\�BLT?@�T�CJ@Jp�}?o�FmKE\|JEJW?EJp�Nm�?F�K?�DGRL�=?OB?Q?p�TCLUWJp�}?�FmKBLTe�TL�CL@J�NmKGCLFTK?QmC�<2p�\OG�FmK�DGOD?EmF�K?FmKLfEID\p�}?�F�DGRm�oeF�O?@LCKJB':L�L� QBeNL� DORLRLD\� mT� OeHLBmFp��GFMmFp� OBLFMmF� D?ECm� EL� KF?HK?oBJH�OeRG@GECJH�RLC?O'�P�NmKDELB�JC�oeRJ�EeEg�O?@'�2��bBm@pDE'�FmDE'�<?RJCGMIp�DE'�FmDE'�PLSWJOp�DE'�FmDE'�/LSomKL�m�\'

4GR?� NBJSC\R?� CLD� T� FGRJO?U� BLKmDEU'�/UKJp� DF\E?WC??K\QCeEmp� eDUKJ� NBJQ?E?FR\UEI� Q?DEJCe'� 0mRIOJ� @J� N?WLRJFGWGB\EJp�\O�B?TFmKOL�K?CGDRLp�}?�F�DGRm�=?B?H?Fm�N?\FJFD\

.nY

�LBCmT?C� F� DJRm� ��� W?R?FmO'�2BJ�HLF� BG@?CEeFLEJ� EGRG~?CCGDN?ReWGCC\�@m|�PLQmB+\@�m�6?@LCWGU'�6?@LCKJB�CLOLTLF�FmKBLTeNBJQ?EeFLEJD\� K?� o?U'� A?W� OjB� bBLCI� FmKBLK|eFLFp� LRGO?@LCKJB�FNGBD\p�m�@J�ELOJ�Nm�RJ'

<?B?Q�CL�CmW�NGBGS�?F�T�KF?BL�K?�EBI?H�HLE�CLK�BmWO?U1DRLF?U'�6?@LCKJB�Nm�?F�CLNGBGK�K?�EJH�|G�HLE�B?TFmKLEJD\m� CLEBLNJF� CL� N?RIDIOe� TLDELFep� NB?DE?� C?QL@J� CL� OeRG@GE=�jZ.'�`O�OBJOCeF�TFmKEJg��2GB�L�D?EC\�DNBLFLp�L�KBeQL�TRmFL?E?WeFLEJ���=J�FKLBJRJ�QeBL�LCCJ@�F?QCG@�*�m�FDm�omQMG@�CLHLEJ'�PLOJKLf@?��H��BLCLEL@Jp�o+f@?�T�OeRG@GEmF�N?�DE?K?RLH�mNmKNLRUf@?�HLEJ'�PL@mDEI����N?R\OmFp�oeR?��H�nw��CL�CmW�NBJS�R?NmKDJRGCC\�'� XLQLE?� @J� N?oJRJp� oLQLE?� TQ?BmR?p� L� }?DIOmRIOLCLKM\EI�N?WLR?�FEmOLEJ�CL�DGR?�2?BL|p�KG�CL�TLDmKMm��HFJOmCWJR?�52Xp�Ke@LUWJp�}?�MG�@J'

=J�TK?oeRJ�KFL�OeRG@GEJp�OBmDJp�22ap�@e�OJp�L@eCmMmUpNRL}mp�NLRLEOJp�CLNRmWCJOJ��oLQLE?�TQ?BmR?�p�EGRG~?CCm�LNLBLEJm�CLWJCC\�KR\�BG@?CEe�EGRG~?CC?��RmCm�'

2mDR\�CLDO?Oe�@J�FmKDEeNJRJ�F�XGBGTmFDIOJS�RmD'

���W�����Wp������Xpo��n�

=J� OFLBEJBeFLRJ� CLK� N?E?O?@� F� 6eR\�C\CDIO?@e� RmDmpNB?EJ� Q?Bm�CI?Q?� OmCM\� DGRL� /eO?FL'� XeF� QLBCJSp� N?QmKCJSKGCI'�4?EC\�oeRL�F�N?FC?@e�DORLKm'�1KCm�@JRJD\�F�N?E?Mmp�mC�mQBLRJ� F� OLBEJp��LHJp�}G� mC�m� WJELRJ�OCJ|OJp� NJDLRJ� FmB�mpN?B'�<mEGB�QBLF�CL�QLB@?Cm�p�B?S'�<JBFL�m�B?S'�d?BCJS�NmKE\QLRJKeGE?@p� oeR?� FGDGR?'� 7?S'� DE'� FmDE'� <?RJCGMI� ?N?FmKLF� MmOLFmLCGOK?EJp� L� FmC� TCLF� �H� oGT� RmOe'�_?�O?@LCKJBL�CL� FmKFmKJCJNBJS�?F�BLS'�NB?F'�/GFO?p�BG~GBGCE�oGTNGOJ�beMeRp�BG~GBGCE5dA�6DGC\p�Q?DN?KLBCJO�dLSOL�S�mC�m'

:L� Q?DEJCMm� @m|� DGRL@J� dL�JC�*�6eR\�CG� WeEJ� QeO@?E?BmF'�2B?FmKCJO�/GFO?�OL|Gp�}?�MG�<2�T�6?@LCWm�NmKF?TJEIHLBWm'� 2?B'� <mEGB� NBJomQ� K?� O?@LCKJBL� T� NB?HLCC\@p� }?oO?@LCKJB� K?TF?RJF� TB?oJEJ� TLDmKOe'� 6?@LCKJB� NBJORJOLFN?BeWCJOL� m� NLRJMGU� N?WLF� S?@e� B?oJEJ��OmM� TLDmKOJ� CLDFm|?CL@eRGCmS�QRJCmp�o?�N?B'�<mEGB�}G�DL@�CmO?RJ�CG�B?oJFTLDmKOJ'�<mKmS�RL�KBeQL�W?ELp�L�TL�CGU�OmRIOLCLKM\EI�?H?WJH'd?EL�TLR\QRL�F�RmDm�@m|�DGRL@J�6eR\�CG�*�XGBGT?FGMIp�CGKLRGO?FmK�K?B?QJp�}?�SKG�CL�O?NLRICU'�_GDI�TL�Q?KJCe�CLK+�HLRL�F?B?|L

.nn

LFE?@L�JCLp�L�CL�CmS�KGOmRIOL�CL�JH�KmFWLEp�\OJH�N?R\OJ�FT\RJD?om�KR\�oGTNGOJ'�=J�DJNCeRJ�F?QCG@�N?�O?RGDLH�m�OLomCmp�}?oKmFWLEL�N?TmDOLOeFLRJp�L�N?Em@�N?WLRJ�FJDEBmRUFLEJ��BJMG|J�'2?� N+\EI?H� HFJRJCLH� CL� CLD� FKLBJR?� To?Oe� NmFD?ECm� <2p�}?S�R?� KLRm� TL� LFE?@L�JC?U'� 2?WLFD\� omS'� 6?@LCKJBT?BmfCEeFLFD\p�}?�TLDmKOL�NGBGEF?BJRLD\�CL�omSp�NmDRLF�CL�N?@mWW?Ee�OjBL�bBLC\p�L�DL@�T�KF?@L�W?EL@J�Nm�?F�?oH?KJEJ�N?R\OmFFmK� DGRL�XGBGT?FM\'�<?B?QL�@J�DO?B?�B?ToJRJp� TCJ}JF�J�qnN?R\OmF�EL�TK?oeF�J�?KC?Q?��@LODJ@L�p�?KC?Q?�@mC?@GELp�OmRIOLDOBJCI�@mCp�oLQLE?�L@eCmMm��EL�mC�?��ToB?�'�:LSomRI�G�Em�JRJD\F?\OJ�EJ@p�}?�TK?oeRJ�Z���HRmomFp�oLQLE?�D?R?CJCJp�D@LRIMUp?DGRGKMmFp�MeOBep�OBeNmF�m�q���RmEBmF�Q?BmROJ'�4@m�C?�CL@�oeR?pO?RJ� @J� N?oLWJRJp�}?� O?|GC� HRmo� KmDELF� N?� OmRIOL� KmBp� L� TQ?BmROJ� oeRL� B?ToJEL� EmRIOJ� ?KCL� NmFRmEB?FL� NR\�OL'�=JTLNLRJRJ� LFE?p� FmKmS�RJ� FmK� @mDM\� TLDmKOJ� ?KJC� OJR?@GEBpB?TEL�eFLRJD\p�m�O?@LCKJB�K?TF?RJF�DEBmRIM\@�NBLTCJOeFLEJ'PL�Q?KJCe�NBJ�HLRL�K?N?@?QL�T�4\C?OL� m�PLQmB+\p�LRG�CG�@LRLFmKFLQJ�K?�CLD�CLoRJTJEJD\'

:L�KBeQJS�KGCI�@J�OFLBEJBeFLRJ�F�N?E?Mm�NB?EJ�Q?Bm�CI?Q?OmCM\�DGRL�4GBGKCf�<GRJOG'�4OBmTI�FmKoeFLRJD\�?oRLFJp�F?B?QTLNLRJF�OmRIOL�HLE�F�DGRm�4GBGKCI?@ep�L�@J�DJKmRJ�F�O?BWJOLHELOJHp�}?�S�TLSMGFm�FL|O?�DH?FLEJD\'

4I?Q?KCm� TLS�RL� MmOLFL� N?Km\'� 4Re|o?FJS� NmKDELB�JCLTLoeF� NB?� ?KCe� DEmSOep� CL� \OmS� DE?\F� OeR'� 5oJW'��?SC?� TLK?oe�S?Q?�T@mCJRJ'�6LBCJS�m�WGDCJS�F?\O�CG�TmS�?F�Tm�DEmSOJpLRG�Q?F?BJFp�}?�CL�KBeQe�K?oe�F|G�KLF�oJ�N?DEBmR'

Uv�vx��

�G� oeRL� CLSomRI�L� N?RIDIOL� EFGBKJC\'�4GR?� CLRmWeFLR?O?R?�Z[��WJDGR�m�@LR?�NmK�ToB?fU�O?R?�[���@e|WJC'�0eE�EBGoLFBLHeFLEJ�N?CLK����OeRG@GEmFp�F�E?@e�WJDRm�OmRIOL��@LODJ@mF�'4GR?�oeR?�?oFGKGCG�O?RUWJ@�KB?E?@� m�DEmSOL@Jp�L�FDGBGKJCmoeRJ�?O?NJ�m�oeCOGBJ'�=mDMGFJS�BLS?C?FJS�NB?FmK�K?@LQLFD\p}?o� MG� QCmTK?� TCJ}JEJ� e� FmKNRLEe� TL� FJ@?BKeFLCC\� MmR?Q?DGRL�PLFLKOL�=?B?HmFDIOL�F�DmWCm�qkZY�B?Oe'�:fof}LCJ�@LRJCL� De@RmCCm� Ke|G� oLQLE?� eoJFDEF� m� QBLoG|mF� F� mC�JH� DGRLH'PLR?QL�T�MI?Q?�DGRL�WLDE?�oBLRL�eWLDEI�F�?oRLFLH�CL�RmDJ�m�DGRL'�JFmRICG� CLDGRGCC\� �eOBL�CMm�p� O?RJ� NGBGH?KJR?� WGBGT� DGR?

.nw

Lo?�omR\�CI?Q?p�oeR?� TFJWLSC?�oJEG'�:fof}LCJ�oeRJ�N?DEBLH?@KR\�DeDmKCmH�eOBL�CDIOJH�DmR'�=J�@LRJ�F�NR\Cmp�}G�O?RJ�oeRJ�BLT?@CL�m�D?ECmp�MG�DGR?�TCJ}JEJp�?WGFJKC?p�NBJ�K?N?@?Tm�}G�?KCmf�D?ECm'�8RG�O?RJ�FmKmS�RL�CL�L�KBeQL�D?EC\p�MGS�NR\C�CL@�FmKNLF'

2?EBGoL�TCJ}JEJ�:fof}LCJ�DELFLRL�}?BLT�omRI��NGOeW?U'0?Km� O?@LCKJB� FJDRLF� NB?HLCC\� K?� OjBL� 7GCLp�}?o� KLF� ?KCeD?ECU�K?N?@?QJ�TCJ}JEJ�MU�FJNLK?Fe�oLTe'�:L�K?N?@?Qe�@LRLNBJSEJ� D?EC\� OjBL� XB?KJWL� m� OjBL�=JB?CL'�2BJS�?F� NR\C� mFJ@?QJ'�0?@e�}?�FJ@?QJ�oeRJ�Ke|G�KJFCmp�O?@LCKJB�DORJOLFCLBLKe�W?E?FJHp�L�ELO?|�@GCGp�}?o�?oQ?F?BJEJ�MU�DNBLFe'�`ONBJQLKeU�D?omp�@m|�mC�J@J�FJ@?QL@J�oeRJ�ELOmg

q��TCJ}JEJ�K?�ERL�DGR?p�CG�D@mf�TLRJ�JEJD\�Cm�?KCL�HLELt.��eoJEJ�O?R?����?ToB?fCJH�@e|WJCp�omRI�G�CG�FmRIC?t���CG�FmRIC?�FoJEJ�Cm�?KCmf��KJEJCJp�|mCOJp�DELBJOLtZ��F�CLD�CG�D@mf�oeEJ�FEBLEt[��TLoBLEJ�\OCLSomRI�G�HeK?oJp�O?CGS�m�Tom||\tY��TL�FJO?CLCC\�Mmf��B?o?EJ�m�FJ@?Q�O?@LCKJB�FmKN?FmKLf

Q?R?F?U'�m�FJ@?QJ�oeRJ�ELOm�KJFCm�DL@G�E?@ep�}?�F�DGRm�oeR?�oLQLE?

@eB?FLCJH�oeKJCOmF�m�EBGoL�oeR?�@LEJ�FJoeH?Fm�@LEGBm\RJ'_LRm�KmS�R?�o�K?�TLNGOR?Q?�o?Up�F�\O?@e�oeR?�o�CLNGFC?

TLQJCeR?� OmRIOLD?E� ?Dmo� oGT� BmTCJMm� FmOe� m� DELEmp� L� T� EJ@�@J@LRJ�o�ELO?|�FGRJOm�FEBLEJ'

:G�FmK?@?p�WJ�FKLR?D\�o�TLoBLEJ�HeK?oep�O?CGS�m�Tom||\p�o?EeE� T�4\C?OL� WGBGT� RmD� K?� DGRL��mDEI� OmR?@GEBmFp� NBJS�RL� oFmSDIO?FL�N?@mWp�L�ELO?|�NBJS�RJ�o�T�DeDmKCmH�DmR�N?RIDIOm�TLR?QJ'

:G�KJF?p�}?�OjB�=JB?C�m�OjB�XB?KJW�DOLTLRJp�}?�CL�ELOe?NGBLMmU�F?CJ�CG�NmKeEI'

��nW�3p

2?KmoCL�DNBLFL�oeRL�T�@mDE?@�PLQmB+\@'��G�oeRL� Q?R?FCLDELCMm\p�OeKJ�N?R\OJ�TF?TJRJ�CL�JH�RG@OmF�NmK�WLD�FJDGRGCC\'6?@LCKJB�ELO?|�K?@LQLFD\p�}?o�MG�@mDE?�TCJ}JEJp�L�NGBGKeDm@DELCMmU� m� @?DEJ� NBJ� K?N?@?Tm� KF?H� D?EGCI'� 0?Km� FJDGRGCWL?NGBLMm\�oeKG�DEBJ@LCLp�\O�oeRL�DEBJ@LCL�TJ@?Up�O?RJ�CL�LD?EC\�FJDLKJRL�@?DEJ�F�PLQmB+�'�0?@e�}?�|?KC?��FmKN?FmKm�CGoeR?p�BLS?C?FJS�NB?FmK��NB?F'�/GFO?p�BG~GBGCE�oGTNGOJ�beMeRpQ?DN?KLBCJO�<GBH?FJCGMIp�BG~GBGCE����6DGC\�m�CL��O?@LCKJB�

.nk

DORLF� RJDEp� CG� TCLU� EmRIOJp� K?� O?Q?� F?CJ� FJDJRLRJp� TK?@LQLCC\@p�}?o�\OCLSDO?Bm�G�NBJS�RJ�D?ECm�m�TCJ}JRJ�E?SFmKEJC?O�PLQmB+\'

:L�MGS�RJDE�CG�oeR?�|?KC?��FmKN?FmKm'�8�:fof}LCJ�m�PLQmB+\DE?\RJ�}G�K?FQ?�CL@�TLFLK?U�m�oeRJ�CLSQ?R?FCm�J@J�F?B?|J@JNR\MKLB@L@J�CLNLKe�CL�CLD'

1omM\COL�O?@LCKJBLp�}?�NmKG@?�CL�oeROJ�K?�_eORm�EL�CLO?FoLDe�K?�`DRJDIOp�CG� TKmSDCJRLD\'�:G�oeR?�F|G�T�OJ@� mEJ':L�L�D?EC\�N?DEeN?F?�@LRmRL� m�@eWJRLD\�CL�FeTIO?@e�EGBGCm@m|�ABG}LE?U�m�4\C?O?@p�2eRLFL@J�m�:?F?DmROL@Jp�o?�KGmCKG�S�CG�FmRIC?�oeR?�NGBGH?KJEJ'�`O}?�@J�B?oJRJ�FJNLKJ�CL�mC�mBLS?CJp�E?�EeKJ�@J�S�RJ�EmRIOJ�CL�FRLDCe�BeOe'

d]��������'��tWe

:L�/G@OmF}JCm� ?NGBeFLF� N?� F?B?|?@e� o?Mm� �?oJFLEGRI@LS?B�=mHLRIDIOJS�p� FmC� @LF� DNGMQBeNe� F� DORLKm� O?R?� ���W?R?FmOp�K?�CG��FH?KJRJp�OBm@�N?R\OmFp�B?Dm\CJp�fFBG�p�MJQLCJpomR?BeDJ�S�mC�m'��\�oLCKL�CLTJFLRLD\��XLELRIS?C?@�DI@GBMm�'<?CJp�NBLFKLp�CmO?Q?�CG�o?\RJD\�CL�/G@OmF}JCmp�EmRIOJ�CL�?�D?ECm� CG� TLWmNLRJ'� 4L@�=mHLRIDIOJS� oeF��OmRICJS� E?FLBJ�CL�?Q?� O?@LCKJBL'� <DG� N?DJRLF� S?@e� N?TK?B?FRGCC\� mNGBGOLTeFLF�WGBGT�NGFCJH�RUKGSg��`�CG�H?We�oJEJDI�T�bBJCI?@�ABmC?@�'�:GHLS�FmC�@GCG�CG��eOLfp�E?�m�\�CG�oeKe�S?Q?��eOLEJ�'=J�F|G�CG�BLT�F�DGRm�<JDR?Mm�OFLBEJBeFLRJ�K?FQ?��PjZ�KCm�p�LRGFmC�CG�NBJH?KJFp�}?SC?�N?�CL�m@�FmKH?Km�NBJH?KJF�NmTCm�G�CL?KJC� KGCI'� <mC� N?Em@� OLTLFg� �`� S?Q?� D@GBEJ� CG� H?Wep� o?� m� \H?We�|JEJp�LRG�@GCm�WGBGT�CI?Q?�CG�KLUEI�DN?O?U'�2GBGOL|mEIS?@ep�CGHLS�EB?HJ�NGBGCGDGEID\�F� mC�m�EGBGCJp�o?�\�CG�@LUFmKN?WJCOe�'

Y��X�� ��p���'��iW

1KC?Q?� BLTe� CLD� N?FmK?@JRJp� }?� F� 6?@LCWm� N?R\OJeRL�E?FeUEI�D?om�TLoLFJ�T�KG\OJ@J�CL�J@J�KmFWLEL@Jp�L�KR\E?Q?p� }?o� �H� FJO?BJDE?FeFLEJp� B?oR\EI� TLBeWCmp� CmoJ� F?CJ?|GC\EID\'� 7mFC?WLDC?�}?KGCC?� CLNLKLUEI� CL� DGR?� `FmBCJO'=J� Nm�RJ� T� NB?DIo?U� K?� O?@LCKJBLp�}?o� EB?HJ� NBJWGDLEJO?@LCGMIOJS� �LBCmT?C'

.w�

4?EC\� FJBe�JRL� K?� `FmBCJOL'� 4JKmRJ� EL@� EBJ� KCmp� LRGN?R\OJ� CG� N?OLTeFLRJD\p� N?WeRJ� �NJDI@?� C?D?@�� m� o?\RJD\SEJ'� :L� EBGEmS� KGCI� oeRL� CGKmR\'� 6?@LCKJB� CLOLTLF� W?Em@mC?@GECJOmF�NBJQ?EeFLEJD\�N?DJRLEJ��N?KLBeCOJ�p�L�KmFWLE�TDGRL�`FmBCJOL�NmDRLF�CL�B?TFmKOe�K?�6?@LCWm'�PL�O?B?EOJS�WLDFGBCeRJD\�m�K?CGDRJp�}?�N?N?ReKCm�N?WCGEID\�TLoLFL�F�?KC?@eK?@m'�4?oLWm��LCEOJ��H?WeEI�CL�JH�RG@OJCI'�6?@LCKJB�CLOLTLFCLDELFJEJ� @mC?@GEJp� m� CGFGRJWOL� TQBL\� �?RJF+\CJH� Q?ReomF�N?RGEmRL� CL� 6?@LCWe'� <?CJ� �N?DmKLRJ�� \OBLT� EL@p� KG� EBGoL'1KCL�@mCL� NmK� KFGBmp� KG� FmKoeFLRLD\� TLoLFLp� KBeQL� F� O?EGRp� F\O?@e�FLBJRJ�N?R\OJ��|ep�L�mC�m�*�CL�Q?DEJCGMI'�<EBLE�F?B?QCG�@LFp�oeR?�EmRIOJ�KF?f�BLCGCJH'�<mK�E?Q?�WLDe�CL�m�KmFWLELNGBGDELRJ�QeR\EJ�T�N?R\OL@J'

{� ��

2?WJCLRLD\� NmKQ?E?FOL� K?� |CJF'� XLQLE?� DmR� DE?\R?N?B?|Cm@J'�:L� N?R\H� K?TBmFLR?� ?TJ@G�|JE?� m� N�GCJM\'�=JQ?EeFLRJ�O?DJp� MmNJ� m� oeKeFLRJ�OBJ�FOJ'�0J@�WLD?@�NBJ�HLR?oLQLE?� N?RIDIO?Q?� FmSDIOL� m� NBJO?BK?CCJOmF'� 1O?NLRJD\�LBCmT?CJ�F�DGRLH�6eR\�C?@e�*�����W?R?FmOp�<JDR?Mm�*�.��pXeOmFDIOe�*����p�1KBGH?FmS�*�Z��p�`DRJDIOLH�*�q[�p�dL�JCm*���p�=?OBm@�*�q���W?R?FmOp� L�BG�EL� T@mMCJRL� �LBCmT?CJ�FPLQmB+�p� XLRJQ?B?Kmp� 6?@LCWm� m� 0mDCmS'� �mRJ@J� KC\@J� �TKJRJF?B?|m��OeOeBeKTCJOJ�p�OmCCm�DEG|m�N?R\@Jp�N?�Q?BLH�DE?\RJTmBMm�m�DRmKOeFLRJp�WJ�@J�CG�NB?F?KJ@?�|CJFp�WGBGT�}?�@J�CG@?QRJ�N?OLTLEJD\�FKGCI�CL�N?Rm'�<�DGRL�CLFO?R?�ABG}LE?��CL@TLo?B?CGC?�TLH?KJEJ�ToJBLEJ�Tom||\p�o?�EL@�F?C?�NBJKmRGCGKR\� EGBGC?FJOmF� m� D?ECm� OjBL� XB?KJWL'� :L@p� \O� TFJWLSC?pNBJKmRGC?�CLSomRI�G�E?BNGK?FLCJS�EGBGC�NmK�@mDEL@Jp�N?BmTLCJSQ?DEJCM\@J�m�TLoRI?O?FLCJS�F?B?Q?@'�>C�?Q?�FJH?Ke�CG@Lp�\OOFLBEJBeFLEJ�F�CGFGRJWO?@e�N?E?Mmp� F�@LRGCIOJH� QBLoCJOLHpDGBGK� Q?RJH� QmBp� @m|� DGRL@J� 4GBGKCf�*� 6eR\�CGp� O?R?�LBCmT?Ce� NBJO?BK?CC?�� ?H?B?CJ� ELOp�}?� CL�L� DEmSOL� DELR??oDGBFeFLRL�N?RIDIOe�DEmSOe�CL�FG|m'

Pom||\� @J� O?DJRJ� C?WL@Jp� FKGCI� @?R?EJRJ� F� N?E?Mm� F@m�OLH� NLEJOL@Jp� De�JRJ� CL� D?CMm� m� @L�LTJCeFLRJ� FNBJQ?E?FLCJH� @L�LTJCLH'�=L�LTJCJ� Em� @J� oeKeFLRJ� ELOp�}?O?NLRJ� \@ep� ?oORLKLRJ� ��� oR\H?Up� FORLKLRJ� DOBJCUp� OBeQ?@

.wq

?oEJBLRJ� D?R?@?Up� L� F|G� N?FCe� Tom||\� TLoJFLRJ� FmO?@pCLOBJFLRJ�oR\H?Up�TLOJKLRJ�QRJC?U�m�@LDOeFLRJ'�0LO�Tom||\@?QR?�DE?\EJ�BmOp�L�\O�@mDMG�DeHGp�E?�S�KFL'�Pom||\�oeR?�BLT?@T�N?R?F?U'�XGT�N?R?FJ�DO?B?�NDeFLR?D\�m�TB?DELR?'

]W�����X��� tW

�?o� FmKE\|JEJ� CL�� EGBGC�|CJFp� @J� Nm�RJ� CL� TLHmK� K?DGRL�4eB?FJMmp�KG�N?RIDIOG�FmSDIO?�O?DJR?�Tom||\'�`OBLT�@JTeDEBmRJ� EL@� NmFD?ECmp� FKLBJRJ� CL� CJH� F?QCG@� OeRG@GEmF� m@mC?@GEmFp�B?ToJRJp�eoJRJ�np�L�BG�Ee�QCLRJ�L|�TL�<GBCJ�FOe'0eE� FmKTCLWJRJD\g� DE'� FmDE'�1BmHp� W?E'� KBeQ?�� W?EJp� m� DCLSNGBFmDE'��eOLp�}?�DL@�TLDEBmRJF���N?R\OmF'

2mDR\� o?U� F|G� e@JDCG� DEBmR\RJ� BJop� }?o� NBJE\QCeEJF?B?QLp�L�O?RJ�N?\FJRJD\�RmELOJ�m�N?WLR?�NmKDeFLEJD\�<mSDIO?2?RIDIOG�T�XeOmFDIOLp�7J@LC?FL�m�̀ DRJDIOp�@J�DN?OmSC?�N?KLRJD\K?�DGRL�<JDRmOp�L�N?Em@�K?�`FmBCJOL'

��� tp

4GR?�6LRICJM\�oeR?�DNLRGCG'�<DI?Q?�RJ�JR?D\�EmRIOJ�EBJHLEJ�CL��XLCMm�p�L�F�4eO?FLEm@�*�?KJC�@RJC'�4UKJ�@J�RUoJRJWLDE?� TLH?KJEJp� H?W� EeE� NGBGHBG}eFLRJD\� K?B?QJ� XLRJQ?B?K*�6?@LCWLp� LRG� E?@ep�}?� EeE� oeRJ� WGBG�Cmp� @J� F|G� NGBGK|CJFL@J�FLBJRJ�D?om�O?@N?EJp�L�DEBmRIMm�R?FJRJ�BLOJp�BJoepOeNLRJD\�F�QLBC?@e�oJDEB?@e�N?E?Mm'

`O?DI� RmE?@� NBJS�?F� K?� CLD� e� FmKFmKJCJ� ?OBe|CJSNB?F'� bBJQ?Bp� L� TL� CJ@� NB?F'� d?BC?ELp� DLC'� 8BNLKpBG~'� Q?DN'� <mS� EL� mC�m'� 6?RJ� NB?FmKCJO� N?oLWJF� D?ECU� NBJBmTCJH� TLC\EE\Hp� S?@e�MG� Ke|G�N?K?oLR?D\'�1KCm� OeNLRJD\� FN?E?Mm� m� ?NLRUFLRJD\� K?� D?CM\p� mC�m� TLS@LRJD\� DN?BE?FJ@JFNBLFL@J� m� QBLRJ� �?KJC� BmS� DmKLF� mC�?@e� B?fFm� CL� NRGWmp� mN?WJCLRJ�FmSCe�*�EBeWLCC\�T�mC�J@J�KF?@L�B?\@Jp�HE?�O?@eomRI�G�TFLRJEI�DEBmRIMmF�p�EBGEm�DNmFLRJp�mC�m�FWJRJD\�WJELEJ�SNJDLEJp�L�N?�FGBHLH�RG|LRJ�TL@LDO?FLCm�TLDELFJ'�5Dm�DEBmRIMm?NLRGCmp�CG@?F�MJQLCJ'

6?RJ� NmKmS�?F� NB?FmKCJOp� L� \� oeF� E?Km� DRe|o?FJ@NmKDELB�JC?Up�E?�WeFp�\O�FmC�DOLTLF�K?�O?@LCKJBLg���G�ELO?�BLKmDC?��|JEE\@� D?ECm� CG� TeDEBmWLF'��G� FL@� EBGoL� FJTCLEJ�'

.w.

2mDR\�E?Q?�O?@LCKJBJ�Q?F?BJRJ�T�NB?FmKCJO?@p�L�DEBmRIMm�H?KJRJ}GNJEJD\�NB?EJ� EJ~e'

U�����������'��� ��

7LT�RJ�JFD\�O?@LCKJB��:L�oLCMm��F�HLEm�bLSCm�OJ��:'\'�NJDLEJ�TFmEJ'�XmR\�@GCG�TLRJ�JF�DE'�FmDE'�AJEB?Q?'�`�H?EmF�EeETLRJ�JEJD\� T� B?f@� CL� ?H?B?Cep� LRG� O?@LCKJB� N?K\OeFLFpOL|eWJp�}?�DO?B?�TLOmCWJEI�B?o?Ee'�7LCO?@�?��jS�Q?KJCm��ZjSN?RO�NmK�O?@LCK?U�N?RO'��GBQLBELp�}?�F?UFLF�F�cDNLCm�p�?E?WJFDNLRGCG�DGR?p�Ke@LUWJp�}?�EL@�OFLBEJBef�D?EC\p�L�HLEep�F�\OmSNJDLF� O?@LCKJB� TFmEJp� ?oDELFJF� EBI?@L� OeRG@GEL@J'PLLELO?FLCJS� F?QCG@� F?B?|JH� OeRG@GEmFp� O?@LCKJB� FH?NJFTFmEJ�mp�CG�TFL|LUWJ�CL�F?B?|JS�F?Q?CIp�FJFmF�T�F?TmFCm�?DmKRLCmO?Cmp� K?NLF� K?� N?E?OL� m� N?E?O?@� NB?BFLFD\'� <mKE?Km� N?R\OJQ?F?BJRJ�NB?�O?@LCKJBLg��0?�HLBLOEGBCmOp�o?�f�?�Cf�WGNLS?CDGC�OeRf'�<J�DGC�TomRm�K?�OeNJp�bBJCI�FL@�CLDELFmR�K'''�m�eMfOR�'�?�O?@LCKJB�oeF�DNBJECJSp�E?�mC�L�DNBLFL'�`�FDG�S?@e�OLTLFp}?�FmC�eB?KJFD\�F�WGNMm'

RWxX����p�����W�

<?B?Q� DO?B?� TmoBLF� Tom||\� T� NmRI'� �?o� TJ@?U� CGQ?R?KeFLEJp� @J� DE\QRJ� O?CEJC�GCE� Tom||\� F� DGRLH� /eO?FmpdL�JCm� m� <mRIDm'� <JTCLWJRJ� @J� S� CL� N?RIDIOG� DGR?� 0LBCLFe.���@�O?CEJC�GCEe'�:?Wm�Ke|G�O?B?EOm'�=eDJ@?�OFLBEJBeFLEJKGDI� oRJTIO?� EJH� DmRp� o?� }?o� mEJ� T� ABG}LE?�� ToJBLEJO?CEJC�GCEp�F?TJEJ�S?Q?�m�N?FGBELEJ�NmKF?KJp�L�N?Em@�}G�FmKmSEJCL�ABG}LEep�LoD?RUEC?�CG�oeR?�T@?QJ'�<�CL�?@e�EGBGCm�CL@K?FGR?D\�@eWJEJDI'�P�CI?Q?�CL@�CG�FmRIC?�OeKJjCGoeKI�FmKmSEJ'0LOJS�oeF�CLOLT�OjBL�7GCL'�:G�BLT�K?F?KJEID\�OFLBEJBeFLEJCL� Q?RmS� Q?Bmp� NmK� OmRIO?@L� \RmFM\@Jp� RG|LWJp� NBJOBJF�JDIEBLF?U'

1KC?Q?� BLTe� F� RmDmp� CL� DHmK� FmK� O?NLRICm� F� DGRm�4GBGKCf<GRJOGp� @J� @L�LTJCeFLRJ� Tom||\'� ..jQ?� DGBNC\� K?B?S'�DE'�FmDE'�d?BC?Q?�NBJRGEmRL�NEL�OL� m�N?WLRL�Ke|G�QLBC?DNmFLEJ'� 7?S'� d?BCJS� CLDJNLF� CL� K?R?CU� ?OBe�JC?O� HRmoLpNEL�OL��RL�m�KLRm�DNmFLRL'�6BeOJ�oGTCLDELCC?�RmELRJ�CLK�CL@J�mTR?FmDC?�OB\OLRJ'�7?S'�d?BCJS�TC\F��LNOep�N?@?RJFD\�m�DOLTLF

.w�

K?� HR?NMmFg� �XeKG� CGoGTNGOL'�4EGBG|mEID\p� HR?NMmp� MG� N?QLCmTCLOJ�'

2?WLF�NLKLEJ�DJRICJS�K?}'�=J�NGBGS�RJ�OFLBEJBeFLEJK?�?KCmf��HLEJ� m�N?E?OL�O?R?�DGRL�A?MGCI'�5Dm�oeRJ�@?OBm�K?CJEOJ'

�� ��� ���W������������t��

.Z�DGBNC\�@J�TLOFLBEJBeFLRJ�WLDEJCC?�F�N?E?Mmp�WLDEJCC?F� HLEm� S� NJFCJMm� O?R?� DGRL� A?MGCI'� =mDMG� N?DE?U� oeR?O?CDNmB?FLCG'�<JNLKO?F?�BLCO?@p�NB?�}?�@J�S�TCLRJp�NB?H?KJFFGBHL@J�DELCJWCJS�b?Reo� T� DGRL�A?MGC\�K?�/eO?FL'�:L� Q?BmFmC� N?oLWJF� TLDELFe� m� NGFC?� K?QLKLFD\p� KG� @J� OFLBEJBef@?'V?Q?�TR?FJRJ�N?R\OJ�F�/eO?Fmp�N?WLRJ�|LHRJF?�oJEJ�MmNL@JCL� E?Oe� F� DE?K?Rmp� m� FmC� DOLTLFp� KG� NGBGoeFLf� CL�L� D?EC\pKe@LUWJp�}?� O?RJ� KmSKG� K?� DeEJWOJp� E?� CL�L� D?EC\� B?Tmo+fN?R\OmF�m�FJTF?RJEI�S?Q?'�<mC�N?FmF�QBeNe�N?RO'�6?@LBL'�`OBLTe�N?ReKGCI�CLD�F?B?Q�?E?WJF'

:L�@mDMm� N?DE?U� oeRL� NGB�L� W?EL� OjBL�1@GRIOL� m� KBeQLW?EL�N?B'�<mEBL'�0BGE\�W?EL�@mC?@GECJOmF�OjBL��eNLOL�m�WGEFGBELOjBL� bBLC\� F� E?S� WLD� @L�LTJCeFLRJ� Tom||\� F� RmDm� omR\� DGRLPLFLKOL�=?B?HmFDIOL'

:L� CG}LDE\p� CL� Q?Bmp� TFmKOJ� S�?F� F?B?Qp� CL�L� TLDELFLTLDNLRL��OeR'�aNLOp�DEB'�4?B?OL�m�DEB'�=GKFmKI�'

<?B?Q� ?omS�?F� TLDELFe� m� CL� FmKKLRm� ����@GEBmF� FmK� @mDM\CL�?Q?�N?DE?U�KmDELF�NGB�JS�F?Q?CI�FmK�CL�?��KBeQ?��TLDELFJ�OeR'�=LOp�DEB'�2LCCLj0?FDEJS�p�\OL�oeRL�O?R?�DGRL�CL�FmKKLRm?KC?Q?�OmR?@GEBL�FmK�F?B?QL'�2?DEBmRJ�CL�?��TLDELFJ�TWJCJRJEBJF?Qep�LRG�F?B?Q�F|G�E?Km�FmKOBJF�F?Q?CI�N?�CL�mS�QBeNm�TEBI?H�DE?BmC'�4ELC?FJ}G�oeR?�|LHRJFG'�6?@LCKJB�KLF�CLOLTKF?@� W?EL@� FmKDEeNLEJp� L� DL@� TLRJ�JFD\� T� q[� DEBmRIM\@J� mNBJSC\F� omS� EL� NBJOBJF� FmKDEeN� CL�JH� W?Ep� }?o� CG� @LRJFGRJOJH�FEBLE'�XmS�oeF�ELOJS�TLFT\EJSp�OBJFLFJS�m�CL�oRJTIOeFmKDELCIp� }?� oJRJDI� L|� �BLCLEL@J'� 2?R?FJCL� T� Emf�� QBeNJTLQJCeRLp� L� BG�EL� @LS|G� FDm� oeRJ� N?BLCGCm'� 6?@LCKJB� ELOB?TRUEJFD\p�oLWLWJ�CL�m�FEBLEJp�}?�F|G�CG�H?EmF�FmKDEeNLEJ'�?SC?�NmK�DNmRICJ@�CLEJDO?@�N?RmEFJH?FCJOL�1RGQL��T�D?ECmOjBL�=JB?CL��FmKDEeNJF'��G�oeF�NGB�JS�omSp�\OJS�O?@LCKJBNB?QBLF'� <mC� S?Q?� NGBG|JFLF� DEBL�C?'� <� o?U� TLQJCeRJg

.wZ

RLCO'�7eDLROLp�OeR'�/JCp�DLC'�7Jo?R?Fp�DEB'�6LBLDIp�DEB'�6B?NJFLpDEB'�1DLp� OeR'�aNLOp� DEB'�4OeDLp� DEB'�6?@LHL� m�}G'''� <� BeOJF?B?QL� N?NLRJ� |JFMG@� BLCGCm� WJ� NBJQRe�GCm� FmK� �BLCLEOeR'�P?TeR\�m�DEB'�=GKFmKI'�<?CJ�F�EUB@m�Ke|G�K?oBG�EBJ@LRJD\p?KFGBE?�OL|eWJ�F?B?Q?Fmp�TL�}?�o?BUEID\p�m�HFLRJRJ�O?@LCKJBL'XeRJ�BLCGCmg�B?S'�PLSWJOp�DCLSN'��eOLp�DEB'�_eop�OjB�AJEB?RJDpDEB'� bBe�OLp� OjB� ABmC� m� mC�m'� dLDEJCL� CL�JH� eoJEJH� oeRJBLCGCm� m� N?B?TBJFLRJ� DGoG� �BLCLEL@J'� <?B?Q� CL�JH� eoJEJHN?NmK@mCeFLF�m�TLRJ�JF�CL�N?Rm�o?U'�XmS�NBJQC?oJF�DEBmRIMmFpo?�FmC�oeF�NGB�JSp�}?�@J�NB?QBLRJ'

_?� EJH� FEBLE� K?ReWJRJD\�}G� mC�mg� FmK� WGBFmCOJ� F� RJNCmN?@GB� DEB'� 4?RJCOLp� L� F� DGBNCm� *� DEB'� 0?N?R\'� dGBGTCG?oGBG|CmDEI� W?E'��eNLOL� FmK� N?DEBmRe� T� NmDE?R\� TLQJCeFB?S'� /UoGCIOJS'

2?�E?@e�@J�FmKmS�RJ�CL�ABG}LEe�K?�ELo?Be�OjBL�XB?KJWL'

���tn�X��

6jB�FmKEJCOe�7GC�KLF�CLOLT�DEF?BJEJ�DNGMQBeNe�CL�W?Rm�TN?B'�<mEB?@�m�K?�CG��KLEJ�CLSOBL}JH�F?\OmF'�PLFKLCC\�DNGMQBeNJoeR?� ?NGBeFLEJ� F� PLQmB+�� m� 4\C?Mm'� qY� FGBGDC\� N?B'� <mEGBpB?S'� /GSOmDp� B?S'� <+UCp� DEB'� 4RJFOLp� DE'� FmDE'� /LSomKLpDEB'�7?|Lp�OeR'�4\Cp�DEB'�0eBjX?K\O�FmKmS�RJ'�4O?B?�DNGMQBeNLTLQJCeRLp�w�Lo?�q.�|?FEC\�qkZY�B?Oep�NmK�WLD�@mCeFLCC\�N?�TKeO?R?�DGRL�2JDLBmFMm'�P�CG�� TLRJ�JFD\� EmRIOJ�FL|O?�BLCGCJSmCFLRmK�DE'�FmDE'�/LSomKLp�OeR'�4\Cp�DEB'�7?|L�m�DEB'�X?K\O'�4@GBEIN?B'�<mEBL�oeRL�CLSomRI��o?RUW?U�FEBLE?U�CL�?��D?ECm'

0GNGB� e|G� OjB� FmKEJCOe� 7GC� K?TF?RJFp�}?o� CL�L� D?EC\NGBGoeFLRL�F�BjCm�NB?F'�d?BC?EJ'

RW��W������W��S���]��� i�

1KC?Q?�BLTe�NBJS�?F�CLOLT�NB?�EGp�}?�D?EC\�OjBL�XB?KJWL@Lf�FmKmSEJ�CL�TLHmKp�e�6BJCJWWJCe'

XeF� FGWmB'� _Fm� D?ECm� DELRJ� RLFL@J� ?KCL� NB?EJ� ?KC?�� CLNB?}LCC\'� 6jB� ABmC� FJQ?R?DJF� NB?@?Fep� NB?}LUWJDI� TF?\OL@J�m�O?@LCKJBL@J�D?ECmp�}?�FmKH?KJRL'

6jB� XB?KJW� EG|� NB?}LFD\� T� CL�GU� D?ECGU'� P�|LRG@FmKH?KJRJ�F?\OJ'�XLQLEI?@�DE?\RJ�DRI?TJ�F�?WLHp�L�O?RJ�D?EC\

.w[

Be�JRL� F� K?B?Qep� @J� DNmFLRJ� �S� NB?}LRICm� NmDCm� K?� @LB�e'<mKH?KJF�E?Km�ELO?|�FmK�CLD�O?@'�2��DE'�FmDE'�bBm@p�oeO?FJCGMIp}?�S?Q?�OjB�FmKEmCOe�NGBGFmF�K?�KBeQ?��D?ECm'

#���������Xn�s�����W

4O?B?� NmDR\� FmKH?Ke� KBeQ?�� D?ECm� F�2GBG@J}JCe� N?WLRJTFmKEJ�RG@OJ�FEmOLEJ�K?K?@e'��mS�D?ECm�TLQB?|eFLRL�OLELDEB?~L'<?CL� TFGRL� F�2GBG@J}JCm� KFL� Lo?� EBJ� o?�p� m� OjB� 7GC� TC?FeNBJTCLWJF� D?EGCCJ@� OjBL�4ELHL� m� N?DRLF� D?ECU� K?� CL�?Q?O?@LCKJBL'�2BJS�RJ�HR?NMm�o?Dm�S�?oKGBEm'�6jB�ABmC�FEm�JFD\CJ@Jp�B?TmDRLF�W?EJ�NGB�?��D?ECm�F�EGBGCp�}?o�T?BQLCmTeFLEJ?K\Q�m�FTeEE\'�1KCL�QBeNL�H?KJRL�K?�DGRL�PGCKBJC?F?�p�KBeQL�*K?�DmR�<?RJMmp�Po?�DOLp�0LBCLFJ�m�2?BL|e'

U�������������mW��X����

PLOJ� KBeQL� D?EC\� FmKN?WJFLRLp� NGB�L� D?EC\� NmKDeCeRLDIoRJ|WG�K?�@mDE'�:?Wm�}G�K?DJEI�O?B?EOmp�}?o�FJSEJ�S�FGBCeEJD\CLTLK�K?�ABG}LE?�'�:G�BLT�K?F?KJR?DIp�}?o�eDEBeQCeEJ�\OeDI�EeOep�KCUFLEJ�CL�Q?RJH�FGBHLHp�NmK�OmRIO?@L�\RmFM\@Jp�RG|LWJpNBJOBJF�JDI� EBLF?U'�=J� FJO?BJDELRJ� CLQ?Kep�}?� F?B?Q� N?|CJFLH�TLRJ�JF�DF?��oeCOGBJ�F�6eR\�Cm@p�L�Nm�?F�CL�?oRLFJpCLDO?WJRJ�CL�CJHp�FJ@mCeFLRJp�TBeSCeFLRJ�EL�TCJ}JRJ�KB?EJm�DNLRJRJ�HLEJp�F�\OJH�OFLBEJBeFLR?�F?B?|G�FmSDIO?'�0LO�DL@?@J� CLDO?WJRJ� CL� oeCOGBJ� F� DGRm� <JDR?Mm'�:GHLS� NB?OR\EJSF?B?Q� DJKJEI� EGNGB�e� TG@Rm'�6?RJ� �LBCmT?CJ�FGBCeRJ�CL� DF?�@mDM\p�F?CJ�@eDmRJ�CLC?F?�oeKeFLEJ�oeCOGBJ�m�F|G�OFLBEJBeFLRJF�TG@R\COLH'

]W������R��� s��

6?RJ�D?EC\�4ELHL�FmKN?WJRLp�CL��O?@LCKJB�TB?oJF�TomBOeKF?H� D?EGCI� m� DOLTLFg� �2BJS�?F� WLDp� }?o� N?@DEJEJD\� TLN?R\QRJH�KBeTmF�F�o?U�NmK�A?MGCG@�p�*�LRG�OeKJ�SKG@?�m�}?oeKG@?�B?oJEJ�EL�O?Q?�oJEJp�O?@LCKJB�CG�DOLTLF'�=J�FJBe�JRJCL�TLHmK'

.k� FGBGDC\� qkZYp� CL� DFmELCOep� O?RJ� F|G� OeHLBm� OmCWJRJFLBJEJ�DCmKLCC\p�NBJomQ�DE'�FmDE'�=JB?C�m�N?FmK?@JFg��:L�OBLU

.wY

RmDe�\OGDI�CGFmK?@G�FmSDIO?�'�6?@LCKJB�CLOLTLF��FJKO?�T+�DEJDCmKLCC\� m� oeEJ� CLN?Q?E?Fm'� 7LNE?@� NBJomQRL� KBeQL� DEG|L� mN?FmK?@JRLp�}?� F� CL�?@e� CLNB\@m� SKeEI� N?R\OJ'� 6?@LCKJBKLF� CLOLTJ� W?E?FJ@p� B?TDELFJF� FmSDIO?p� m� N?WLFD\� TLFT\EJSomS'

7?o?EJ� oeR?� N?� FeHL'�2?R\OmF� oeR?� F� EBJ� BLTJ� omRI�GpF?CJ�?E?WJRJ�CLD�T�eDmH�DE?BmC'�6mRIOLCLKM\EI�BLTmF�K?H?KJR?K?�o?U�CL�oRJTIOe�FmKKLRI��q�j.��@GEBmF��F�QeDEJH�QBLoCJOLH'

6?@LCKJB� BLTjejBLT� NGBGOJKLF� W?EJ� CL� Em� FmKEJCOJp� KGCLSomRI�G� LELOeFLF� F?B?Q'� 8� O?RJ� N?RIDIOJS� @LS?B� oeFN?BLCGCJS� e� |JFmEp� @J� Nm�RJ� F� CLDEeN'� <� CLNB\@m� DGRL<GBCJ�FOL�Nm�?F�OjB�4ELH� T� KBeQ?U�D?ECGU� m� OjB�1@GRIO?� TNGB�?U� W?E?U'� 6jB� bBLCI� Nm�?F� T� DF?fU� W?E?U� F� CLNB\@mK?B?QJp�}?�FGRL�T�DGRL�4eB?FJMm�K?�<GBCJ�FOJp�L�O?@LCKJB�TW?E?U�1BmHL�N?CLK�N?E?O?@�F�CLNB\@m�4eB?FJMm'

2?R\OmF�@J�B?ToJRJ�FNGCI'�5oJRJ�qnp�L�BLCGCJH�oeR?�O?R?[�'�5�CLD�NB?NLF�oGTFmDEJ�FmK@mCCJS�B?TFmKCJOp�BLCGCJS�F�o?UFmDE'�4RLFO?jaNB?ELp�BLCGCm�oeRJ�DLC'�bLRJW�m�DEB'�4OLRL'�XeRJo�@J�FJoJFLRJ�}G�K?�BG�EJ�N?R\OmFp�LRG��@�CL�N?@mW�NBJRGEmRJRmELOJ� m� N?WLRJ� NmK+�|K|LEJ� LFE?O?R?CJ� T� FmSDIO?@� T� @mDEL7J@LC?FL'

XmS�EBJFLF�O?R?�EBI?H�Q?KJC'�=J�CLB?oJRJ��e@e�F�EGBGCmpKG�@LR?�oeFLRJ'�6?|CL�QBeNL�DF?�@J�K?B?QL@J�Nm�RL�CL�TomBCJSNeCOE�F�XGDOJKmp�O?R?�DGRL�<JDR?O�b?Bm�CmS'

<�MI?@e�o?U�FmKTCLWJFD\� DLCmELB�7\DEp�}?�CmD�BLCGC?Q?DEBmRIM\�4OLRe�CL�NRGWLH�eFGDI�WLD�NmK�?oDEBmR?@�N?RIDIO?Q?OeRG@GEL'

6?RJ�CL�L�?KCL�QBeNL�S�RL�B?TDEBmRIC?U�N?R\@J�N?CLKDGR?@� <JDRmOp� ��� TLNBJ@mEJF� RmELO� m� KLF� DJ�CLR� oLELRIS?C?Fm<12jep� \OJS� NBJS�?F� T� 6?@LCWm� F� _?Rm�CmS� <JDRmO� CLK?N?@?Qe'�2?RIDIOJS�RmEeC�T�RmELOL�OBJWLFg��5FLQL��bBJCI�mKGCL�6?@LCWe���2?R\OJ� N?TLoJBLRJ� e� DGR\C� NmKF?KJ� EL� KLFLSomQEJ�CL�B\EeC?O�6?@LCWm'

"W��

0LOG� NDGFK?� NBJoBLF� D?om� F� W?Em� @mC?@GECJOmF� ?KJCB?S?FJSp�}?� N?H?KJF� T� _?RJCJ� Lo?� PLDRLF+\'� 6mRIOL� RmE� FmCoeF�e�Cm@GMIOmS�LB@m�p�oBLF�eWLDEI�e�o?B?EIom�T�NLBEJTLCL@J�F

.wn

�Q?DRLFm�p� KG� NGBGS�?F� K?� NLBEJTLC� 0mEL� WJ� oeF� CJ@JTR?FRGCJS'�0?@e�FmC� m�NBJoBLF�D?om�ELOG�NDGFK?'�`OJ@�WeK?@FmC�?NJCJFD\�F�CL�?@e�NmKNmRRmp�CG�TCLU'�`OJSDI�WLD�FmC�oeF�eo?�FMm�beMeRLp�LRG�S?Q?�TFmKEJ�FJOJCeRJp�L�NB?F'�/GFO?�NBJDRLFS?Q?�K?�D?ECm'�<JQR\KLR?p�}?�528�}?DI�QmB�Gp�}?�F� ���B\KLH@?|G�oeEJ�HE?jCGoeKIp�m�K?�MI?Q?��FJH?FC?Q?�TLORLKe��FJDJRLRJFD\OJH�OLBC\OmF�T�EGBGC?F?��DmEOJ'��I?Q?�EJNL�F�D?ECm�DO?B?B?T�J~BeFLRJp�LRG�CL�FJOJCGCC\�S?Q?�EBGoL�oeR?�@LEJ�TQ?KeOjBL�FmKEJCOe'

1KC?Q?� KC\p� TLDO?WGCJS� N?R\OL@J� F� HLELH� TL� RmD?@� omR\DGRL� /eO?FLp� FmC� TKLFD\�|JFJ@p�}G� S� NBJCGF?RJF� K?� MI?Q?Ke|G� K?oB?Q?� DEBmRIM\�4?SOe� T� DGRL� PLQeEJCC\'� 0mE?� TLBLTN?FmF� N?R\OmF� K?� PLQeEJCC\p� KG� FmC� TCLF� @mDMG� NGBGoeFLCC\NB?F'� /GFOLp� m� BLT?@� T� N?R\OL@J� CLDO?WJF� CL� CI?Q?'2B?F'�/GFO?p�HF?BJS�CL�TLNLRGCC\�RGQGCmFp�RmOeFLFD\�CL�Q?BJ}m'XmR\�CI?Q?�oeRJ�BG~'����6DGC\�m�}G�?KCL�DmRIDIOL�Ke|G�mKGSCLKmFWJCL'�2B?F'�/GFOL�RmOeFLRL�eOBL�COL�*�RmOLBOLjDHmKC\WOLp}?�|JRL�E?Km�F�4\C?Mm'�AF?BJS�NB?F'�/GFO?�FmKoJFLFD\p�L�6DGC\poGT�ToB?�p�NB?DJRL�S?Q?p�}?o�FmC����eoJF'�2B?F'�/GFO?�DEBmR\f6DGCUp� LRG� F� QLB\WMm� ?o?B?CJ� S?@e� TLoBLOR?� OeRI� Lo?p� \OOLTLRJ�RUKJp�0mE?�CLDO?WJF�CL�CI?Q?p�TR?FJF�TL�BeOJ�m�FmKKLFN?R\OL@'�<�MI?@e�CLDO?Mm�TLQJCeRL�ELO?|�DGR\CDIOL�KmFWJCLpL�NB?F'�/GFOL�TLoBLRJ�K?�EUB@J�F�4\C?Mm'�5�TF+\TOe�T�DNBLF?U0mEL� \� @LF� FGRJOe� CGNBJf@CmDEI'� 6?@LCKJB� KLF� @GCmTL@L�LTeFLEJ�KFL�@mC?@GEJp�?KC?Q?��@LODJ@L��m��KGHE\BL�'�0mE?p\O�@mC?@GECJOp� ?BmfCEeFLFD\p� F� \O?@e� EGBGCm� TL@L�LTJC?FLC?MU� ToB?U'� 2?R\OJ� NGBGO?NLRJ� N?B?|Cf� DGR?� A?MGCI� m� FK?Rm�CmS� HLEm� TCLS�RJ� CL�m� @mC?@GEJp� L� O?R?�*� TCLS�RJ�@LODJ@L��m��KGHE\BL�'�A?W�e�CLD�ToB?��CG�oBLOeFLR?p�LRG�TL�MG\� KmDELF� FmK� O?@LCKJBL� DeF?Be� CLQLCep� \Oe� NGBG|JFLF� Ke|GK?FQ?'

#�W��3pr�������W��v

2mTC?�F?DGCJ�FJS�?F�T�EUB@J�F�4\C?Mm�?KJC�DGR\CJC*�N?RmEF+\TGCIp�FmC�B?TOLTeFLF�NB?�|JEE\�CL�JH�F+\TCmF�EL�H� CLDEBmS'� <Dm� F?CJ� EBJ@LUEID\� Ke|G� K?oBGp� H?W� HLBWm� eCJH� NB?DE?� |LHRJFm'� 2GBG|JFLUEI� DEBL�Cm� E?BEeBJ� CLK?NJELH'�2B?F'�/GFO?Fm�N?RL@LRJ�FDm�NLRIMm�CL�BeOLHp�LRG�FmC

.ww

CmW?Q?�CG�TBLKJF'��2B?F'�/GFO?�N?H?KJF�T�DGRL�XLCKB?FL�'�PEUB@J�FmC�NGBGKLF�CL�mS�D?ECm�NBJFmE�m�NB?DJF�O?@LCKJBLp}?o�N?@DEJFD\� TL�S?Q?�@eOJp� EL� oL|LF�eDNmHmF� e� o?B?EIom'2B?DJF�NGBGOLTLEJ�NB?F'�=LB?Fmp�}?o�NB?DEJF�S?@e�EGp�}?FmC� CG� TLDEBmRJFD\'� _e|G� MmOLFm� BGWm� ?N?FmKLF� MGS� F+\TGCINB?� CL�?Q?� OeRG@GECJOL� XGBGDELjP?TeRUp� }?� oeFO?@GCKLCE?@� OL@GBJ'� �GS� P?TeR\� MmRJS� WLD� N?jeOBL�CDIOJNB?FLKJF�FN?B\Kp�Cm�DR?F?@�CG�FmKTJFLFD\�N?jN?RIDIOep�L�CLTLNJEJ��G~L��XLELRIS?Ce�DI@GBMm��=mHLRIDIO?Q?g��dJ�bBJCIo?�EID\� @GCG��� *� FmKN?FmKLFg� �6?Q?p� FLD�� XeR?� D\N?NB?oeFLEJp�E?�oeRJ�oJ�DIEG�K?oBG�KmDELRJ�FmK�CL�?��D?ECm�'PL� MG� S?Q?�=mHLRIDIOJS� oJFp� L� HE?� FmKN?FmKLFp�}?� o?�EID\pE?S�KmDELFLF�FmK�=mHLRIDIO?Q?�MJQLBOJ'

_BeQJS�\OJSDI�N?RIDIOJS�O?@LCKJB�NJELFg��8�}?�B?oJEIbBJCI�F�?E?WGCCm���P?TeR\�FmKN?FmKLFg��:e�}?��4ELCG�N?Ke@Lfp@LHCG�BeO?U�m�DOL|Gg��AR?NMmp�TL�@C?U���:L�MG�E?S�O?@LCKJBg�8�E?�D'''�DJC�'

=J� ?KGB|LRJ�}G� FmDEOJp� }?� NmS@LCJS� N?R\OL@J� CL�BLCGCJS� DEB'�=GKFmKI� T� X?HmFOJ� EL�}G� ?KJC� CL�� BLCGCJSDEB'�T�<?RJMm�oeRJ�TLDeK|GCm�CL�OLBe�D@GBEJ'�4EB'�=GKFmKI�N?FJB?Mm� OBJWLF� N?R\OL@g� �XLCKJEJ�� 4ELRmCDIOm� D?oLOJ�� <JN?CGF?RJRJ�CL��CLB?K��<J�TR?Km�p�NmKNLRUFLWm�m�FoJFMm'�<J�@GCGTCJ}JEGp�LRG�5OBL�CL�ELOJ�oeKG��

#�i���W

:L@�Ke|G�WLDE?�oBLOeFLR?�RmOmF'�PLOeNJEJ��H�F�4\C?Mm�Lo?/mDIOe�oeR?�BmWWU�CG@?|RJF?Up�o?�HE?�OeNeFLF�omRI�Gp�T?OBG@LoLCKL|mp� L� F� mC�JH� DORGNLH� FmSDIO?Fe� @LEGBmUp� TLBLTEGRG~?CeFLRJ� N?� @mRmMmUp� }?� LBG�E?FeFLRL� N?OeNMmFpNmK?TBUUWJp�}?�MG�CL�m�DNmFB?omECJOJ'

=J�TCLS�RJ�FJHmK'�<�DGRLH�<JDR?Mm�m�XLRICJMm�oeRJ�CL�mNLWOLBmp�\Om�DELR?�H?KJRJ�CL�4R?FLWWJCe'�<?CJ�EBLCDN?BEeFLRJT�2?RI}m�CL�4R?FLWWJCe�L@GBJOLCDIOm�MJQLBOJ��dGDEGB~mRK��mmC�mp� L� TFmKEJ� NBJC?DJRJ� KR\� CLD� RmOJ'� dGBGT� CJH� DEBmRIMmNGBGKLFLRJ� N?�Ee� K?� DF?�H� B?KJC� F�8@GBJMmp� 8CQRm�'� A?W� MmRUKJ� TLS@LRJD\� FJORUWC?� NLWOLBDEF?@p� LRG� F?CJ� K?oBGDELFJRJD\�K?�CL�?��o?B?EIoJp�F�oLQLEI?H�FJNLKOLH�CL@�N?@LQLRJm�@LR?�TLB?oR\RJ�CL�CLD'

.wk

U�oW� n�Wr��

�G�F�N?WLEOe�qkZ[�B?Oep�O?RJ�\�F?UFLF�BLT?@�T�OjB?@�F2GBG@J}JCmp� @J�@LRJ� DF?�� FJNLK?Fm� QCmTKL'� 0LOJ@J� CL�J@JQCmTKL@J� oeRJg

q�� <� DGRm� /m@Cmp� \OG� @J� CLTJFLRJ� �2mDC\�p� oeRJ� HLEJ� FK?Rm�CI?@e� OmCMm� CLK� N?E?O?@p�}?� K?oBJS� oeF� KR\� ?o?B?CJpFmKDEeNe�K?�RmDep�L�N?QLCJS�K?�NmKH?Ke'�.��<�DGRm�/\HLFmp�\OG�@JCLTJFLRJ� �4?R\COL�p� F� HLEm� Q?DN?KLB\� �`C\�p� F� Q?Bm�CI?@eOmCMm�NmK�RmD?@'�<J}G�HLEJ�oeF�Q?Bo?Op�T�\O?Q?�FJKC?�oeR?�FDm?O?RJMm� \O� CL� K?R?Cm'� :L� E?@e� Q?BoOe� oeF� ELO?|� CL�N?FDELCDIOJS� MFJCELB'� 0L@� DN?WJFLRJ� CL�m� DEBmRIMmDR'�N'�B?S'�de@LOp�o?S?FJO�XJDEBJS�T� DGRL�=LR\FJp�o?S?FJOX?SO?�T�dL�JCL�EL�mC�m'�:L�N?Rm�FmK�DGRL�/\HLFJ�oeRL�}G�HLELp\OL�CLTJFLRLD\��:L�XBG|mFDIOm@�'����<�DGRm�XBJ|LFmp�NBJDmROJ7?NLp�PL@L�eBL�m�XeO?FJCL'

:L� /G@OmF}JCm� CLSomRI�� eRUoRGCJ@J� CL�J@J� DGRL@JoeRJg� /eOmFp� 4GBGKCf� <GRJOGp� 6LRICJM\p� _e�LEJCp�=?OBGp6L@+\CGp�<?R\�4GCIO?FLp�NBJDmR?O�7?TE?OJp�N?jCL�?@e��7J@�pDGR?�PLFLKOL�=?B?HmFDIOLp�N?jCL�?@e��<m~RGf@�p�<JDRmO�m�_LBmF'

:L�m�QCmTKLgq�� ABG}LEL� �@LDJF� RmDmF�'� <GRJOJS� D@GBGO?FJS� RmD� O?R?

6L@+\COJp� @?R?KJS� D@GBGWCJO� @m|� DGRL@J� =JO?FJ@� m_e�LEJC?@p�DOGRm�@m|�KF?@L�N?E?OL@J�F�Q?Bm�CI?@e�OmCMm�DGRL=JO?FLp�QeDEJS�CGNBJDEeNCJS�D@GBGWCJO�@m|�DGRL@J�4@mRICJOm� <?R\�=mH?FLp� DEBm@OLp� ?OBeQRL� Q?BL� CLK� NBJDmRO?@� `DGCmFpDGR?�4eO?FLEGp�D@GBGO?FJS�RmD�omR\�DELB?���NJELRIOJ�O?R?�DGRLbmWFJMm'

.�� 4GR?� XLRICJM\p� TL@mC?FLCJS� D@GBGO?FJS� RmDp� omR\O?BK?Ce'

���4GR?�=mH?FLp�F�XGDOJKm�CLK�N?E?O?@�=L�eBJWCJSp�ELO?|@m|�@mCL@J� EL� F� N?B?|CmH� EBI?H� HLELH� DGRL� PeoJCDIOG� NmKXGDOJK?@'

Z��4GR?�/eNOmF� �F� WLD� FGRJOJH� ?oRLF�p� e� KF?H� N?B?|CmHHLELH�NmK�RmD?@p�O?R?�DELCMm��:?FJS�/eNOmF�Lo?�F�?KCmS�HLEm�ELO?R?�CG�'

[�� 4GR?�4eO?FLEGp� CLK� N?E?O?@� omR\� @RJCLp�}?� fKJCJSTLRJ�JFD\'

Y��4GR?�6LRICJM\p�omR\�MGBOFJ�Lo?�F�EBI?H�HLELH��:L�XLCMm�p

.k�

CL�O?BK?Cm�@m|�DGRL@J�6LRICJM\�*�4GBGKCfp�NB?EJ�OLBeDGRmCL�Q?BoOe�T�oeO?FJ@�RmD?@'

n��4GR?�A?MGCIp�N?B?|Cm�HLEJ�F�K?Rm�CI?@e�OmCMmp�oeO?FJSRmD�@m|�DGR?@�m�PLQ?WGF+\@'

w��4GR?�4GBGKCf�<GRJOGp�F�Q?Bm�CI?@e�OmCMmp�F�\Be�N?E?Oep}?�NRJFG�T�TLH?Kep�CLFO?R?�FGBHJ�T�@LRJ@J�Oe}L@Jp�K?oBm�KR\?oDGBFLMm�'� <mK� MGBOFJ� NB\@?� CL� TLHmK� CL� �NJRm� Q?BJp� FCGFGRJWOJH�Oe}LHp�K?oBG�K?�?o?B?CJ�m�T?BGCC\'

k��4GR?�/eOmFp�D?DC?FJS�RmD?O�CLK�Q?Bm�Cm@�OmCMG@�DGRLpLo?�N?EmO�F�RmDm�@m|�Q?Bm�Cm@�OmCMG@�/eO?FL� m�PLQ?WGF+\'�_FmHLEJ�@m|�DGRL@J�/eOmF�m�dL�JCp�\Om�CLTJFLUEID\��XLC\�'�ALEJ�TL�RmD?@�'

q���4GR?�=?OBGp�D@GBGO?FJS�RmD?O�@m|�DGRL@J�=?OBG�*:fof}LCJ�Lo?�RmD?O�CLK�NBJDmRO?@�=?B?HmFCJM\p�NB?EJ�HLEJ�'''�GBOL'

qq�� 4GR?�dL�JCp� @LRGCIOJS� RmD?O� @m|� DGRL@J�dL�JC� m=?B?HmF'

q.��4GR?�XGBGT?FGMI� �F� WLD� DN?O?U�p� F� K?Rm�Cm@� OmCMm� FHLELH'�PLDELFL�CL�Q?DEJCMm'

q���4GR?�PLFLKOL�=?B?HmFDIOLp�oeO?FJS�RmD�CLK�DGR?@p�}?@J�S?Q?�TFLRJ��DGBGKJC?U�DFmEe�'

qZ�� 4GR?� <?R\�2GEB?FLp� HLEJ� F� Q?Bm�CI?@e� OmCMm� m� RmD�XeO?FJM\�'� <� WLD� NGBG@LB�e� K?Rm�CmS� OmCGMI� F� HLELH��IF?COLRL�p��=eRJO�� m��4EG~eBJ�'

q[��4GR?�2eRLFJp� HLEJ� F� Q?Bm�CI?@e�OmCMm� m� D@GBGO?FJSRmD'

qY��4GR?�<JDRmOp�F�oeO?FJH�RmDLH�XGDOJKep�L�CL�NmFC?Wm�*N?EmOp�}?�NRJF�T�XeO?FJMm�m�FNLKLF�K?�BmWOJ�F�DGRm�F�E?@e�@mDMmpKG�K?B?QL�NGBGEJCLf�BmOe��CJ|WG�MGBOFJ�CL�DGBGKJCm�DGRLp�O?R?HLEJ� �W?BC\FOJ�:LDEeCm��'

qn�� 4GR?� `FmBCJOp� NBJDmR?O� ��LSEJDOLp� RmD� CLK� DGR?@� FmKNmFC?Wm'

qw�� 4GR?� 2BJoJ�mFp� HLEJ� F� Q?Bm�CI?@e� OmCMmp� DOLRL�6L@mCI��F�RmDmp�D@GBGO?FJS�RmDp�DELBG�@mDMG�ELo?Be�OjBL�_mKJOL'

qk�� 4GR?� 2?R?CCLp� HLEJ� F� Q?Bm�CI?@e� OmCMm� �EGBGCFmKOBJEJS�'

.���4GR?�2?R\CJ�4eB?FJWCmp�CGKLRGO?�FmK�MGBOFJp�K?oBJSEGBGC� T?BGCC\'

.q��4GR?�_?F|JM\�CL�DL@?@e�O?BK?Cm�F�XGDOJKm'

.kq

..��4GR?�6LRJCmF��4R?FLWWJCL�p�CLK�Q?R?FCJ@�N?E?O?@p�FoeO?F?@e�RmDm'

.���4GR?�2LR?EL� �4R?FLWWJCL�p� oeO?FJS� RmD� omR\� NLR\BCmFeQmRR\'

.Z��4GR?�0GRGNmFMm��4R?FLWWJCL�p�CL�RmF?@e�oGBGTm�N?E?OLF�D@GBGO?F?@e�RmDmp�F�N?E?Mmp�}?�NRJFG�FmK�DGRL�4?RJCOL'

.[��4GR?�bLoeBLp�F�RmDm�NB?EJ�DGRL�`DGROL��4R?FLWWJCL�'

.Y��b?BL�=LEBLQ?CL��TL@mC?FLCm�FGBHJ�omR\�DGRL��GBoLCmFOLm� PeoB\WG�'

.n�� 4GR?�/m�C\� CLK� Q?Bm�Cm@� OmCMG@p� CLK� N?E?O?@p�}?NRJFG�T�Q?BJ�`DR?'

.w��4GR?�2BJDRmNp�F�D@GBGO?F?@e�RmDm�CLK�N?E?O?@'

.k��4GR?�4EBeo?FJDIOLp�F�XGDOJKm�CL�DELBmS�FeTIO?O?RmSMm'����b?BL�=L�eBLp�CLK�DGR?@�6BJFJ@'�q��4GR?�2?R\COJp�HLEJ�omR\��O?RJ'�.��4GR?�<?R\�=LEm\�?FLp�HLEJ�F�K?Rm�CI?@e�OmCMm'���� 4GR?� XGBGTOLp� HLEJ� F� Q?Bm�CI?@e� OmCMmp� omR\� HLEJ

b?WLOmF�F�K?Rm�CI?@e�OmCMm�m�RmD�6C\|G'�Z��4GR?�<GRJO?N?RGp�HLEJ�NmK�RmD?@�FmK�bBe�OJ�m�RmD�bBe�OL'�[��4GR?�PLQeEJCIp�NBJDmR?O�NmK�RmD?@'�Y��4GR?�4\CmW?Op�HLEJ�CL�N?Rm'�n��4GR?�<?RJM\p�NBJDmR?O�<mRIOL'2?KLU� FL|RJFm�m� @mDM\� CL�JH� QCmTKp� F� \OJH� @J

OFLBEJBeFLRJ�WLDEm�G'�2BJ�E?@e�TLTCLWLUp�}?�CG@Lf�DGRL�WJRmDep�F�\O?@e�CG�oeFLRL�CL�L�D?EC\�Lo?�o?KLS�W?ELp�N?WLF�JFmK�TL@mC?FLC?Q?�_eOR\CDIO?Q?�NLD@L�L|�K?�4\Ce'

��������"�����X

<�eOBL�CDIOJH�DGRLH�F|G�CG�oeR?�T@?QJ�KmDELEJ�S�OmR?QBL@@+\DL'� 2?RIDIOm� oLCKJp� }?� B?oJRJ� ?oRLFJp� ELO� ?QBLoJRJCLDGRGCC\p�}?� F?C?� CG�@?QR?� CLD� NB?HLBWeFLEJ'� _?F?KJEID\CL@� EGNGB� \O� CG� @JBC?p� E?� ToB?fU� TK?oeFLEJ� F� N?RIDIOJHDGRLH��EeOJ� CL� @+\D?'� [� |?FEC\� @J� NGBGOJCeRJ� NB?DE?� TABG}LE?�� L|� CL� 0LBCLFep� TB?oJRJ� CGDN?KmFLCJS� DO?Op�}?oDGR?�CG�N?FmK?@JR?�<mSDIO?�2?RIDIOG�F�4\C?Mm�m�PLQmB+�'�1KCLD?EC\�?oDELFJRL�MG�N?RIDIOG�DGR?�DEmSOL@J�m�TLDELFL@Jp�L�KBeQLN?WLRL��LTKeFLEJ'�PFmKDJ�@J�TLoBLRJ�OmRIOLCLKM\EI��EeO�HeK?oJpDFJCGSp�oLQLEe��DNeRIKTGRICU�p�CLFLCEL|JRJ�MG�FDG�CL�N?RIDIOm

.k.

F?TJ� m� Nm�RJ�CLTLK� CL�ABG}LEe'�2BJ� E?@e� N?RmEFJH?FCJOJ� mB?Te@Cm�m� DEBmRIMm� FGRJ� B?T+\DCUFLRICe� B?o?Eep� W?@e� DL@GoGBeEID\�TFmKDJ�HLBWm'�2GB�J@�LB�e@GCE?@�oeR?p�}?�FmSDIO?�moLCKJ� T� DmR� N?QBLoeFLRJ� CL�m� DGRL'� _BeQGp� HLS� DGR?� oGBGDNmFeWLDEI�F�o?B?EIom�NB?EJ�o?RI�GFJT@ep�L�MG�KLEOJ�CL�~?CKo?B?EIoJ�N?CGF?RGCJH�=?DOF?U�CLB?KmF'

6jB�ABmC� FJoBLF� D?om� QLBCJH� m� B?Te@CJH� DEBmRIMmF� EL� TCJ@J� Nm�?F� K?� @mDMGF?Q?� DF\}GCJOLp� KG� CLEBLNJF� \OBLT� CLm@GCJCJ�?KCmf��eWJEGRIOJ'�6?RJ�O?@LCKJB�FmKBGO?@GCKeFLFD\EmS�eWJEGRIMmp�F?CLp�\O�N?WeRL� m@+\�ABmCLp�?DRLoRL� m�FNLRL�CLOBmDR?'�8RG�N?�B?T@?Fm�DEF?BJRLD\�OBL}L�LE@?D~GBL'�PmoBLCLEeE� N?RIDIOL� mCEGRm�GCMm\� TLH?NRUFLRLD\� CL�J@� FmSDIO?@pT?OBG@L�EJ@p�}?�@J�ELO�TCL@GCJE?�?BmfCEef@?D\�F�N?RmEJWCmSDJEeLMm�'�6?RJ�eWJEGRIOL�H?EmRL�SEJ�K?K?@ep�O?@LCKJB�KLF� �S?H?B?Ce� L|� K?� DL@?�� HLEJ'�2mTCm�Gp� F|G� NmDR\� Emf�� ?NGBLMm�pN?RIDIOL� mCEGRm�GCMm\� NBJHJRIC?� FJDR?FRUFLRLD\� NB?eOBL�CDIOJH�N?FDELCMmF'

<�MI?@e�DGRm�@J�@LRJ�O?CEJC�GCE�Tom||\�.���MGCECGBmF'0BGoL�oeR?�K?EBJ@LEJ�DR?FL�m�MGS�O?CEJC�GCE�TmoBLEJ'�1KCLOEGBGC�oeF�ELO�E?BNGK?FLCJSp�}?�M\��EeOL�HE?TCL�WJ�FKLRLD\�oCL@'�:L� NB?HLCC\�@mDMGF?Q?� F?R?DC?Q?� FmSELp�}?� CLDGRGCC\Ke|G�omKCG�m�CG�TK?RLf�ELOJS�O?CEJC�GCE�TKLEJp�O?@LCKJB�TB?oJFNB?NL�LCKJFCJS�|GDE� m� TFmRICJF� DGR?� FmK� O?CEJC�GCEe� TL� EGp}?�F?C?�F?B?|G�CLDELFRGCG�K?�o?RI�GFJT@ep�L�KG\Om�W?R?FmOJMI?Q?�DGRL�oBLRJ�eWLDEI�e�o?B?EIom�NB?EJ�WGBF?C?Q?�eB\Ke�FRLFLH�86'

�������������X�������x��W�

2mDR\�?NGBLMm��Nm�RL�TL�CL@J�N?Q?C\�N?RIDIO?Q?�FmSDIOL�FOmRIO?DEm�?KCmf��KJFmTm�'�=J�OFLBEJBeFLRJ�CLK�N?E?O?@�=JO?FLomR\�DGRL�=JO?FL'�:GKLRGO?�O?R?�CLD�oeRL�N?FDELCDIOL�QLBoLBC\�OmBJp��GFDIO?jOBLFGMIOJS�FGBDELE�m�DLCNeCOEp�CL�\O?@e�oeR?OmRIOLCLKM\EI� BLCGCJH'

w�|?FEC\p�NmDR\�N?ReKC\p�NBJomQ�?KJC�DEBmRGMI�T�@mDMGF?Q?Oe}L�m�N?FmK?@JFp�}?�F�CL�?@e�CLNB\@m�N?DeFLfEID\�FGRJWGTCL@LDL�FmSDIOL�T�omRJ@J�?NLDOL@J�CL�BeOLFLH'�<�CL�?@e�ELo?BmCL� DE?RLH� }?SC?� B?ToJBLRJ� DFJCmp� @L�LTJCeFLRJ� @+\D?� mB?TKmR\RJ�O?CDGBFJ�@m|�DEBmRIM\@J'�:L��@RJC�@?R?F�TGBC?'

.k�

6?@LCKJB� ?Q?R?DJF� EBJF?Qe'� :LD� oeR?� KFm� D?ECm'� 6?@LCKJBN?ORJOLF� W?E?FJH� m� DOLTLFg� �0Lo?Be� CG� RJ�Lf@?p� B?oJ@?� CLF?B?QL� �@m�?O�p� N?@DEJ@?D\� TL� CL�m� FEBLEJ� m� FmKmSKG@?�'� `W?@eDI� DN?KmFLFD\p� }?� DI?Q?KCm� oeKG� FmSCLp� o?� K?B?S'� DE'� FmDE'�d?BC?Q?�NBJRGEmRL� TC?Fe�NEL�OLp� DmRL�CL�BeOepQLBC?�DNmFLRL'�<?CL�CLD�?DEGBmQLRL'�2B?�MG�Q?F?BJRJ�@m|�D?o?UB?S?Fm� m�oGT�CLOLTe�}G�BLT�NGBGWJDEJRJ�ToB?U�S�Q?EeFLRJD\K?�o?U'�2GB�L�D?EC\�@LRL�E?Km��EBJ�W?EJg�NGB�L�*�OjB�1@GRIO?pKBeQL�*� OjB�1BmHp� EBGE\�*� OjB� bBLCI'� `� oeF� E?Km� NGB�J@B?S?FJ@�m�TLDEeNCJO?@�W?E?F?Q?'�_BeQL�D?EC\�OjBL�4ELHL�@LRLKFm�W?EJg�OjB�PGCO?�m�OjB�XLSBLO'�=mS�BmS�oeF�CL�TLDELFm'�<mKBLTeNBJS�RL�K?�CLD� EBGE\�W?ELp� L�BG�EL�W?E� TLSC\RJ�DELC?FJ}LCL�DOLRLH'�d?E?FJS�CLOLTLF�CL@�RG|LEJ�DN?OmSC?p�NmKNeDEJEJoRJTIO?� F?B?QL� m� WGOLEJ� CLOLTe'�deEJ�}?BLT� oRJ|WG� F?B?|mQ?R?DJ'�`�CLOLTLF�CLWmNJEJ�oLQCGEJ�CL�OBmDJ'�AR?NMm�B?oR\EIMG� DN?OmSC?p� ?KJC� KJFJEID\� CL� KBeQ?Q?p� CG@?F� NJELf� ?WJ@LpHE?�FJSKG�T�MI?Q?�o?Up�L�HE?�Cm'

7LNE?@� N?OLTLRJD\� EBJ� N?R\OJ'� `��GNCeF� OeR'� _eH?Fmg�<?Q?CI�'�<mC�?KCmfU�WGBQ?U�DO?DJF� �H'�2mDR\�E?Q?�NmKC\RJDIN?RIDIOm� OBJOJg� �PLH?KJEJ� RmF?BeW'�2BLF?BeW'� <NGBGK�'�d?ELNmKNeDEJRL� N?R\OmF� CL� KFLKM\EI� @GEBmF� m� N?� O?B?EOm@� o?UTCJ}JRL� �H'� 6eR'� 5oJW� T� 4\CmWOLp� FmDm@CLKM\EJRmECmS� F?\Op?KCmfU�WGBQ?U�DO?DJF�FmDm@�N?R\OmF'�<JBFL�ELO�DL@?�NGBm}JFTK?B?F?'�=?\� mDE?BJWCL� �NLNLKI?�OL�� O?DJEI� ELOp�}?� F|GQLB\WL'�_mS�R?�K?�o?U�CL�ELOe�oRJTIOe�FmKKLRIp�}?�CL�@GCGCLRGEmF�N?RIDIOJS�DELB�JCL�T�NmDE?RG@'�8�\�T�DF?Q?��E?OLB\�p\O?Q?�N?KLBeFLF�@GCm�O?@LCKJBp��NLM��*�m�OB?NCeF�S?Q?'�=Jo+f@?D\p�CLD�F|G�?E?WeUEIp�L�mC�m�W?EJ�@?FWLEI'�=GCG�MG�F|GN?WLR?�CGBFeFLEJ'�_e@LU�D?omg���?p�K?�W?BELp�DELBJS�T�CL@JB?oJEI�'�:L�K?N?@?Qe�CL@�NBJS�RJ�KFm�OeRG@GECm�RLCOJp�NBJK?N?@?Tm�\OJH�@J�TC?Fe�B?ToJRJ�N?R\OmF'�2?R\OJ�Q?EeUEI�EBGEmSCLDEeN'�deEJ�OBJOJ��HCmH�O?@LCKJBmFg��4@mR?p�HR?NMmp�FNGBGK'/mFG�OBJR?�FNGBGK���`O�EmRIOJ�NmKmS�RJ�N?R\OJp�L�@J�KLFLS��@TC?Fe�F?QCU'�XmS�DELF�CLFLRICJSp�TLFT\EJSp�T�CGWeFLCJ@�F?QCG@'1DIj?DI� FJo+UEI� CLD'� 8� EeE� \O� eBm|G�1@GRIO?� T�~RLCQep� TmDOGRmp� ELO�}?� MmRL� N?RIDIOL� D?EC\� T� OBJO?@� N?WLRL� NLCmWC?FEmOLEJ'�`�EB?HJ�FmKmEHCeFp�DELF�CL�BmFCm�C?QJp�N?NBLFJF��ELCJpN???oEJBLF�BeOJp�CLQ?EeFLF�L@eCmMm�p�L�HR?NMm�CL�m�*�EG�DL@G'1KCm�DEBmRIMm�|LBEeUEIp�NGBGORJOLUEID\p�KGHE?�DNmFLf��/GCEL

.kZ

TL�RGCE?U�p�OjB�bBLCI�QRLKJEI�o?B?Kep�DNRI?Fef�EL�N?jDHmKC\MIOJRLf�N?R\OmF'

<?B?Q�Q?EefEID\�TC?Fe�K?�CLDEeNe'�2mKE\QLf�C?Fm�DJRJp�BLNE?@F�?KJC� Q?R?D� F?CJ�N?WLRJ�BGNGEeFLEJg� �<mKKLSEG�CL@�bBJC\'�PFL@J�H?WG@?�|JEJ�F�TQ?Km�'�6?EBJSDI�mT�B?S?FJH�\O�OBJOCeF��@pE?�L|�FDm�oeHCeRJ�D@mH?@'�0LO�OBJWLRJ�OmRIOLCLKM\EI�BLTmF'

PLOJNmF�CLC?F?�omSp�CGCLWG�F�DE?�OmERLH'�<?B?Q�F|G�CLDEeNLfmT�~RLCQe'�2BJS�?F�CLOLTp�}?�EGNGB�N?�O?B?EO?@e�o?Up�O?RJN?R\OJ� oeKeEI� CLDEeNLEJp� CGHLS� HE?DI� OBJWJEIg� �<EmOLS@?��*�m��FJKO?�FmKDEeNJEJ�CL�Q?Bep�L�N?R\OmF�NeDEJEJ�K?�ELo?Be'0LO�m�DELR?D\'�2?�O?B?EO?@e�o?U�@J�N?WLRJ�FEmOLEJ�CL�DOGRmp�LN?R\OJ�H@LB?U�BJCeRJ�K?�ELo?Be'��<�ELo?Bm�O?@LCKJB�e@JDCGCLOLTLF� TLRJ�JEJ� CL� DE?RLH� D?R?CJCe� m� O?CDGBFJ�'� 2?R\OJOJCeRJD\�QBLoeFLEJ'�7LNE?@�eNLRL�O?@LCKLg��<?Q?CI�'�_Fm�D?ECm\O�FBmTLRJ�T�EBI?H�DE?BmC�NGBGHBGDCJ@�F?QCG@�N?�ELo?Bep�E?EL@�EmRIOJ�oeF�NJDOp�T?SO�m�KJ@'�̀ RJMm�CLFO?R?�ELo?Be�RJ�JRJD\oGT�O?BJ'�4EBmRIMm�OBJWLEIg��:Lp�@Lf��bBJC\p�8CEGO'�:Lp�@Lf�bBJC\�'

<�MI?@e�o?U�oBLRJ�eWLDEI�ELO?|�CL�m�KmFWLELjN?FDELCMmp}?�oBLRJ�FmK�DEBmRIMmF�OBmDJ� m�DEBmR\RJ�CL�N?R\OmF'�XeRJ�EL@ABJDE\��T�2GBG@J}JCJ�p�=LBmSOL��T�XLCKB?FL�p�c@L��T�X?DIOL�'

:LDEeNLRJ�EBJ�N?ROJ�N?R\OmF�m�ELo?Be�CG�TK?oeRJ'�2mTCm�GO?@LCKJB� KLF� CLOLTg� �2BLF?BeW'�=LB�eFLEJ� EB?HJ� FJ}G� FmKELo?Be�'� <mC� Ke@LFp�}?� N?R\OJ� oeKeEI� ?O?NeFLEJD\� m� TLFEBLDH?WeEI�NB?K?F|eFLEJ�omS'�=J�FmKmS�RJ�?KJC�OmR?@GEB'�2LKLFK?}� mT� DCmQ?@'� _?� @GCG� NBJS�RJ�ABJDE\� m� c@Lp� FmELUWJ� TeDNm�CJ@�o?f@'�5FGW?Bm�O?@LCKJB�FJDRLF�?KJC�BmS�CL�B?TFmKOeK?�ELo?Bep�L�KFm�D?ECm�NmKDeCeRJD\�TL�CJ@'�<�ELo?Bm�@J�TLDELRJFDG� ELOp� \O� TLRJ�JRJ'� <� K?KLE?O� OLRU|m� OB?FJ� m� oLCKL|mF'6?@LCKJB�CLOLTLF�@mCGBL@�TL@mCeFLEJ�NmH?EJCDIOJ@J�@mCL@JQLBoLBCU�T�o?WOL@Jp�@RJCp�m�@J�N?FGBCeRJD\'

7LC?�N?R\OJ�Nm�RJ�TC?Fe�CLDEeN?@�CL�ELomBp�?oDEBmRUUWJS?Q?�FNGB�G�T�@mC?@GEmF'

<?B?Q�F�MI?@e�o?U�@LF�eoJEJH�[[p�B?TmBFLCJH�CL�@mCLH�n�mN?CLK�D?ECU�BLCGCJH'

8�F�CLD�Cm�BLCGC?Q?p�Cm�FoJE?Q?'�4EBmRIMm�T�BLK?DEm�N?WLRJNmKCm@LEJ� O?@LCKJBL� CL� BeOLHp� OBJWLEJ� �4RLFL�� m� DNmFLEJ�=C?QL\� RmEL�'

:L�L� W?ELp� L� T?OBG@L� OeR'� _eHp� OeR'� 5oJWp� OeR'�1OeCIp

.k[

OeR'�4?FLp�B?S'�<JBFLp�OjB�1@GRIO?p�OjB�bBLCI� m�\p�?KGB|LRJN?HFLRe� TL� FmKFLQe� F� o?U'� <Dm� @J� oeRJ�}LDRJFmp�}?�CL@� ELON?FGR?D\�m�}?�@J�N?@DEJRJD\�TL�DF?�H�KBeTmF'

2mDR\�o?U�B?TFmKOL�K?CGDRLp�}?�q[��N?RIDIOJH�F?\OmF�FEGOR?T� N?R\� o?U� L|� K?�6?@LCWm'�2?R\OJ� N?TF?TJRJ� DF?�H� eoJEJHN?ELf@C?�K?�N?�TKe�m�FmKFGTRJ�F�EBI?H�FLQ?CLH�K?�PLQmB+\'�P�CJHN?TCm@LRJ�?K\Q�m�FTeEE\p�NBJFGTRJ�K?�6?@LCWmp�OL|eWJp�}?�MGN?FDELCMm'

:L�KBeQJS�KGCIp�O?RJ�FGBELRJD\�T�CL�?Q?�ELo?Bep�F?CJELO� o?\RJD\p� }?� CLDEeNLRJ� CL� N?B?|Cf� DGR?� 4@mRICJO� mOBJWLRJ� �5BL�'� <� 4@mRICJOep� e� ?KCmf�� |mCOJ� T� 45Pp� EBJN?RIDIOm� N?RO?FCJOJ� ?N?FmKLRJ� D?om� BmTCm� WeKL� NB?� CL�?Q?O?@LCKJBL� m� NB?� omS'� 6jB� �XLELRI?Ce� DI@GBMm��=mHLRIDIOJS?N?FmKLFp�}?�@LR?�EL@�CG�NB?NLFg��`�oeF�oJ�N?NLF�bBJCI?Fm�FBeOJ�'

�mCOL�P?TeRm�?N?FmKLRL�B?T@?Fe�N?R\OmF�N?�BLKm?p�}?�NmDR\o?U�DE?\R?�F�=JO?Fm'�:L�NJELCC\g�DOmRIOJ�N?FDELCMmF�eoJEJHpL�DOmRIOJ�N?R?CGCJHp�FeDLEJS�N?RO?FCJO�FmKN?FmFg��8\p�FoJEJH'2?R?CGCJH� CG� @Lf@?'� 5� CLD� f� NmFD?ECm� FoJEJH�'� `OJSDIO?@LCKJB�L|�DOL|GCmF�FmK�TR?DEm'

2mDR\� MI?Q?� o?U�@J� NGBGS�RJ� F� QeDEJS� D@GBGWCJO�@m|4@mRICJO?@� m� <?RGU�=mH?F?Up� }?� CLRG|JEI� K?� @LDJFeABG}LE?�'

]X�Xv'�������

dLDEJCL� T� KF?H� D?EGCI� RJ�LfEID\� oeKeFLEJ� TJ@?FmELo?BJp� L� mC�m� W?EL@J� mKeEI� F� EGBGC� ?BQLCmT?FeFLEJ� HLBWmCL� TJ@e'� 7?o?EL� SKG� CL� N?FCe� NLBe'� 1KCm� oeKeUEIp� mC�mO?NLUEIp� EBGEm� F?T\EI�OLBE?NRUp� L�CL�L� EBGE\�W?EL�Nm�RLK?� DGRL�Po?�DIOL'� 0L@�CLDO?WJRL�CL�CLD� D?EC\� N?RIDIO?Q?FmSDIOLp� LRG�@J� FmKoJRJ� F?B?QL� m� FmKDEeNJRJ� F�PLFLKDIOJSRmD'� :L� KBeQJS� KGCI� O?R?� q���� N?R\OmF� B?oJR?� ?oRLFep� TN?R\OL@J�@J�@LRJ�OmRIOL�BLTmF�NGBGDEBmROe�m�}LDRJF?�NGBGKFGW?B?@� NB?BFLRJD\� CL� DGR?�=?B?HmF� oGT� FRLDCJH� eEBLE'�mRJS�KGCI�@J�F?KJRJ�ELO?|�TL�D?o?U�TK?oeEm�O?B?FJp�o?CmHE?� T� DEBmRIMmF� CG� Ke@LF� �H� FmKKLEJ� N?R\OL@'� AeK?oeFmKDELFRGC?�K?�ELo?Be'

.kY

U���X���������X������ �y�#�X�v�

<�@JCeR?@e�MG�DGR?�oeR?�CLN?R?FJCe�TLDGRGCG�eOBL�CM\@J'qkZY� B?Oe� �H� FJDGRJRJp� L� EGNGB� EeE� @G�OLRJ� BmTCm� N?RIDIOmTLSKJ�m�TLF?R?OJ'�4GR?�NGBGEF?BJR?D\�CL�oLCKJEDIOe�EFGBKJCU'XeR?�?oFGKGCG�O?RUWJ@�KB?E?@p� L� FDGBGKJCm�@LR?�oeCOGBJ� m?O?NJ'� XLCKL� MI?Q?� DGRLp� }?� CLRmWeFLRL� ���� W?R?FmOpFJ�O?RUFLCL� FmSDIO?FJ@J� mCDEBeOE?BL@Jp� oeRL� ?ToB?fCL� K?TeomF'�<?CL�DL@?FmRIC?�CLNLKLRL�CL�CL�m�DGRLp�QBLoeFLRLp�FoJFLRLRUKGS�m�B?oJRL�?oRLFJ�CL�N?FDELCMmF'

qk�|?FEC\�O?@LCKJB�CLOLTLF�FJWJDEJEJ�ToB?U�S�NBJQ?EejFLEJD\'�_Gp� OeKJp� T� OJ@�*�CG� DOLTLF� CmO?@ep� CLFmEI� W?E?FJ@'0mRIOJ�N?WLR?�FGW?BmEJp�@J�FJBe�JRJ�T�2BJoJ�mFDIO?Q?�RmDe�FCLNB\@m�DGRL�6L@+\C?Q?'�XeR?�K?DJEI�H?R?KC?'�:L�TG@RU�DmKLFmCGS'�P�CLD�CmHE?�CG�@LF��JCGRmp�L�oLQLE?�DEBmRIMmF�e�N?KGBE?@eFTeEEmp� N??o@?EeFLC?@e��@LEL@J'� <Dm� KBJ|LRJ� T� H?R?Ke� mNBJDNm�eFLRJ� OB?Op�}?o� o?KLS� EB?HJ� TmQBmEJD\'� 0LO� FmF� CLDO?@LCKJB� L|� TL� DGR?� 7LECLFJMUp� CL� Q?Bep� T� \O?�� FJKC?� oeR?DGR?� 2BeDfO'�=J� FmKBLTe� K?QLKLRJD\p� KG� oeKG@?� DI?Q?KCm�FGWGB\EJ�'�6?@LCKJB�N?ORJOLF�K?�DGoG�W?E?FJHp�KLF�O?|C?@eTLFKLCC\p�N?WLE?O�m�OmCGMI�B?o?EJp�TomBCG�@mDMGp�e@?FRGCm�TCLOJm� DJ�CLRJ'�2mDR\� MI?Q?� NBJS�?F� K?� CLD� m� DOLTLFg� �1MG� QCmTK?@LfEG�@GCm� TCJ}JEJ�'�6BeQ?@� DGRL� H?KJRJ�N?RIDIOm� DEmSOJ'� <DGRm�FmKH?KJRL�TLoLFLp�DNmFJp�m�HE?DI�QBLF�CL�QLB@?�Mm'�1�q.jmSQ?KJCm�@J�Nm�RJ�F�CLDEeN'�0L�KG�@J�S�RJp�@J�omQRJp�\O��LRGCm':mHE?�CmW?Q?�CG�Q?F?BJFp�RJ�G�EeN?EmRJ�C?QJp�OLRLELRJ�KJDOJpoBGCIOLRJ�OLDEBJ�m�KTF?CJRJ�RGCEJ'�0mRIOJ�K?NLRJ�@J�K?�DGRLpW?EL� OjBL�1@GRIOL� Nm�RL� CLDEeN?@�CL� N?RIDIOm� oeCOGBJ� omR\MGBOFJ� m� CL� �NR\Me~Oe�'�d?EL� O?@LCKJBL� bBLC\p� m� \� TL� CGUpFKLBJRJ�CL� DGBGKJCe� DGRLp� FmK�4\CmWOL�N?BLfEID\� OjB�XLSBLO'PLOJNmF�omS'�P�eDmH�DE?BmC�TLQ?BmR?D\�DGR?p�FJoeHLUEI��BLCLEJpWeEJ�NJDOp�OBJOp�T?SOp�BGF�HeK?oJp�O?@LCKJp�CL�m�m�F?B?|m'�XmSNGBGS�?F�e�BeO?NL�CJSp�TLFT\EJSp�OBJFLFJS'�0BGoL�TK?oeFLEJO?|Ce�HLEe'�:L�K?N?@?Qe�BJCeRJ�:fof}LCJp�LRG�EL@��H�EBJ@LFOjB�1BmH'�>KeEI�CL�K?N?@?Qe�oLCKJEJ�T�8CKBe�O?FGMIp�2?ofKC?�m�=LBO?FfM'�P�CJ@J�F|G�FGKG�omS�OjB�XLSBLO'�6jB�4ELH��LTKef�FK?Rm�CI?@e� OmCMm� DGRLp� L� CL��O?@LCKJB�CL� FmKEJCOe� FmK� DGRL:fof}LCp�FmC�O?@LCKef�o?f@'�4CLSNGBJ�T�B?\�PLSWJOL�MmRICJ@JN?DEBmRL@J�QLD\EI�DFmERL�F�HLELH�:fof}LC'

.kn

<�@?�H�BeOLH�QLB@?�OL'�AR?NMm�o+UEID\p�L�\� �@�NBJQBLU�f}G�2?RIDOL�Cf�T�mCGRL�'�=J�NLCJ�DJEeLMm�'�1WJ}Lf@?�OBJEm?O?NJ�omR\�FJH?KOmFp�QC?Up�?o?B?QmFp�KG�B?TNLWRJF?�o?B?C\EID\CGK?oJEOJ'�XmS�OJNmF�e|G�W?EJBJ�Q?KJCJ'�:L�K?N?@?Qe�NBJS�R?W?EJBJ�D?ECm�N?RIDIO?Q?�FmSDIOL�T�4\C?OL'�`�}G�T�DF?�@�B?f@QLBLELU�?B@?FMmFp�L�N?Em@�N?WJCLU�oeoeCJEJ�N?�N?RIDIO?@eFmSDIOe'� P� NBJH?K?@� K?N?@?QJ� CL� CLD� BJCeRL� C?FL� HFJR\OeRG@GEC?Q?�m�OBmD?F?Q?�F?QCU'�<JRmELUEI�BLOGEJp�CL�m�e@?FCmTCLOJ'�<JKC?�QeDEe�F?B?|e�RLFe�CL�?DFmWGC?@e�N?Rm'�<|G�DmBmR?p\O�@J�FmKDEeNLRJ'�<?B?Q�@LF�O?R?�Y��eoJEJH�EL�D?ECU�BLCGCJH'=J�TLoBLRJ�TK?oeEe�HeK?oep�ToB?U�m�N?KLRJDI�CL�TomBCJS�NeCOE'<�o?U�FL|O?�BLCGCJS�B?S'�PLFGBeHL�T�DGRL�<?R\�2GEB?FLp�FmCN?NB?}LFD\�T�DEBmRIM\@J�m�TLDEBmRJFD\'�PLQJCeRJ�DEB'�_BLNLOpDEB'�=eHLp�FL|O?�BLCGCJS�N?NLF�F?B?Q?Fm�F�BeOJ�TF+\TO?FJSD?ECm�XGDOJKp�}?�TL�OmRIOL�KCmF�N?FmDJFD\�CL�oLCKL|LH�F�EUB@mp}?o� CG� TBLKJEJ� ELf@CJMm'� <� o?U� oeRJ� BLCGCmg� OjB� 4ELHpOeR'�:GER\p� B?S'� >ELCUO� m� mC�m'� <� MI?@e� CmWC?@e� OBJFLF?@eo?U�oLQLE?�DEBmRIMmF�FmKTCLWJR?D\�QGB?SDEF?@�m�FmKFLQ?U'

]W�����Xpo�p����'X�W�W

:L�TomBCJS�NeCOE�@J�KG}?�DNmTCJRJD\p�o?�CGDRJ�BLCGC?Q?OjBL�4ELHL'� <KGCI�@J� NB?BFLRJD\� WGBGT� TLRmTCJWCJS��R\H� F6eR\�C\CDIOJS� RmD'� 4L@G� O?RJ� N?R\OJ� B?oJRJ� ?oRLFe� CLABG}LEe� m�CLFO?R?�CG��OFLBEJBeFLRJp�@J�CJ}JRJ�oLCKJEDIOGDGR?�2BeDfO'�0?Km�F?CJ�FGBELRJD\�B?T+U�GCmp�@?F�DOL|GCm�NDJpm�TeDEBmRJD\�T�CL@J�F�E?@e�RmDm'

_mS�R?� K?� O?B?EO?Q?� o?Up� F� \O?@e� FmKTCLWJFD\OjB�1@GRIO?p� FmKoJFLUWJ� DL@� ?D?oJDE?� T� OeRG@GEL� N?R\OmF'=J�}LDRJF?�NB?S�RJ�N?@m|�N?RIDIOJ@J�QBeNL@J�WJDEJ@�N?RG@F�RmD�@m|�DGR?@��LFCJ@�m�4GBGKCm@�<GRJOJ@'�7LCGCJH�FmKmDRLRJK?��NJELRIOJ'

�'�����S����'���

2BJS�?F�CLOLT�FmK�OjBL�FmKEJCOep�}?�CL�L�D?EC\�@eDJEIT?BQLCmTeFLEJ�HLBWm�*�@eOep�MeO?Bp�E?F}p�\BJCep�L�ELO?|�?K\QKR\��NJELRIOJ'��U� DNBLFe� K?EGNGB� N?RLQ?K|eFLRJ� BLS?C?FmQ?DN?KLBCJOJ�EL�Oe}mp�\Om�@LRJ�K?DJEI�DEBmRGMEFL'��GS�CLOLT

.kw

KR\�CLD�oeF�NB?DE?�CG�NmK�DJRe'�1KCLO�O?@LCKJB�FJDRLF�W?EJ?BQLCmTeFLEJp�}?�FKLDEID\'�4OBmTI�RUEeUEI�?oRLFJ'�<C?Wm�QBeNLo?RI�GFJMIOJH�OmCC?ECJOmF�?oDO?WJRL�HLEep�F�\OmS�OFLBEJBeFLFO?@LCKJBp�WGOLUWJ�CL�W?EJp�\Om�@LRJ�EeE�DH?KJEJD\�T�BmTCJHDmR'�6?@LCKJB�NGBGoeFLF� F� mC�mS�HLEm� mp�@LUWJ�N?QLCJS�D?CpNm�?F� ToJBLEJ� DEBmRIMmF'�1KCLO� FDmH�}G� CG� oeR?'�:L� FmKKLRmW?EJBI?H�@GEBmF�FmC�TeDEBmFD\�T�o?RI�GFJMIOJ@�OeRG@GECJO?@p\O?Q?�NGBGHJEBJF� m�}LDRJF?�FJBFLFD\�T�F?B?|?Q?�F?QCU'�:LKBeQJS� KGCI� EJD\WL� N?R\OmF� ?E?WJRL� O?@LCKJBL� T� B?f@DE'� FmDE'� PLSWJOLp� oeCW'�2BJDNmFL� m� OjBL�1@GRIOL� F� RmDm� @m|DGRL@J�4GBGKCf�m��LFCG'�<?CJ�eDm�WeK?@�FJS�RJ�T�Mmf��?oRLFJp�H�FB\EeFLR?�KGD\EI�@GEBmF�QeDE?Q?�NmF@GEB?F?Q?�QBLoCJOL'

qq�RJDE?NLKL�FNLF�DCmQp�L�F?B?Q�NB?K?F|eFLF�KLRm�?oRLFe�mEBJ@LF�e�?oR?Tm�FGDI�RmD'�<?CJ�NB?BFLRJD\�WGBGT�DGR?�4GBGKCfpKG�CGKLRGO?�FmK�MGBOFJ�KmS�R?�K?�DeEJWOJ�T�o?RI�GFJMIO?UOmCC?E?Up� F� \OmS� TQJCeF� OjB� 1@GRIO?p� NGB�JS� W?E?FJS� mTLDEeNCJO�OjBL�D?ECm'��G�KBeQL�CLSomRI��o?RUWL�FEBLEL�CL�?�D?ECm'�6jB�1@GRIO?�oeF�T?R?E?U�RUKJC?Up�fKJCJS�O?@LCKJB�mF?\O� T� CLSOBL}J@J� NBJO@GEL@J'� 0LOJH� W?E?FJHp� \O� FmCp� \� F|JEEm�CG�TeDEBmWLF'

U����������n�������o����W�

`� F� WLD� E?Q?� CLDO?Oe� CG� oeF� e� ELo?Bmp� L� oeF� T� W?E?UOjBL�bBLC\� m� OjBL�1BmHL�F� EGBGCm'�=J�FGRJ� E?Km� ?NGBLMmU�CLXeOmFDIO?p�CL�Po?�DIOL�S�mC�m�?DGRm'

q.� RJDE?NLKL� F?B?Q� F� DJRm� KF?HjEBI?H� EJD\W� ?E?WJF� CL�ELomBp�}?� S?Q?� F|G� QLBC?� FJOmCWJRJ� m� FJoeKeFLRJ� DEBmRIMm'�LDE\p�}?� NBJS�?F� O?@LCKJB� m� ?Q?R?DJF� EBJF?Qep� TCLUWJp}?� F� MI?@e� CLNB\@m� mKeEI� FGRJOm� DJRJ� N?RIDIO?Q?� FmSDIOL� mo?RI�GFJOmF'�7LCO?@�DEBmRIMm�TLNBJ@mEJRJ�F?B?QLp�}?�?E?WeFLFELomB'�6?@LCKJB�}LDRJF?�FJFmF�FmSDIO?�T�ELo?Be� m�FmKDEeNJFpNGBGH?K\WJ�\OJH�N+\ECLKM\EI�@GEBmF�N?NBJ�N?R\OmFp�}?�TLR\QRJpL�}?�oeRL�DJRICL�@B\OLp�N?R\OJ�Ke@LRJp�}?�MG�SKeEI�DF?�p�m�CGDEBmR\RJ'�<?B?Q�KLBG@C?�oJF�NmFQ?KJCJ�N?�N?B?|CmH�oeCOGBLHpF�\OJH�NmTCm�G�TCLS�?F�oLQLE?�L@GBJOLCDIOJH�MJQLB?O�m�FmK?TFK?�N?RIDIO?Q?�FmSDIOLp�\Om�CL�m�RJ�JRJ�KR\�NB?NL�LCKJ'

bBeNLp� \OL�oeRL�F� ELo?Bm� m� FmKDEeNJRLp�NGBGS�RL�K?�DGRLXLRICJMmp�L�N?Em@�K?�<?Rm�=mH?F?�p�KG�m�@J�K?ReWJRJD\�K?�CG�'

.kk

q���X���� ������

PL� CL@J� QLC\f� FGDI� WLD� KJFmTm\� N?RIDIO?Q?� FmSDIOL� mo?RI�GFJOmF'�_?�\O?Q?�DGRL�NBJSKG@?p�oRI?Oef@?�S?Q?p�CmO?Q?CG� FJNeDOLf@?p� }?o� CG� KLF� TCLEJ� F?B?Q?Fmp� }?� @J� EeEOFLBEJBef@?'�<BG�Em�TLRJ�Lf@?�TLRUKCGCm�DGRLp�L�OFLBEJBef@?F�N?B?|CmHp�OeKJ�NmKE\QLf@?�HLBWm'

6FLBEJBeUWJ�F�N?B?|CI?@e�DGRm��GBoLCmFOLp�K?F?KJEID\CL@� HLBWeFLEJDI� EmRIOJ� oLBLo?RGU'�2?� KF?H� KC\H� O?@LCKJBCLOLTLF�N?QLDJEJ�F?QCJ}Lp�NGBGFmBJEJp�WJ�CG�TLERmRLD\�KG�HLELpm�FmK@LB�eFLEJ'�0mRIOJ�@J�FJS�RJ�T�DGRL�m�N?KLRJD\�F�CLNB\@mN?B?|CmH�HLE�DGRL�PeoJCDIOLp�\O�N?oLWJRJp�}?�F��GBoLCmFMmQ?BJEI�HLEL'�6?@LCKJB�N?WLF�FGDEJ�DRmKDEF?p�HE?�MG�NmKNLRJFpo?�TLBLT�F?B?Q�NBJSKG�CL�O?CEB?RI�m�CL�DCmQLH�N?oLWJEI�DRmKJpLRG�DRmKDEF?�CmW?Q?�CG�KLR?'

�?SC?�N?�OmRIO?H�KC\H�@J�FJS�RJ�T�DGRL�PeoJCDIO?Q?�K?N?B?|CmH�HLE�omR\�DELCMm��:?FJS�/eNOmFp�L�F|G�Q?BJEI�HLEL�FPeoJCDIOm@'�6?@LCKJB�N?ORJOLF� W?E?FJHp� OjBL�4ELHLp�@GCG� mB?S'� AJEB?Q?'� :L� FmKNBLFm� TL\FJFp� }?� f� e� CLD� L�GCEp� \OJSNmKNLRL@J�FOLTef�F?B?Q?Fm��R\Hp�OeKJ�@J�SKG@?'

�?SC?�@J�FJS�RJ�T�DGRL�/eNOmF�K?�?KCmf��HLEJ�F�XGDOJKCLK�1DRLFJMGUp�L�F|G�Q?BJEI�HLEL�F�/eNO?Fm'�:L�m�B?TFmKCJOJjDEBmRIMm�FNLRJ�CL�DRmK�m�N?FmK?@JRJp�}?�MG�B?o?EL�DEB'�dLoLCLjXGBGTJ�T�<GRJO?N?R\'��GS�DEBmRGMI�TKGTGBEeFLF�T�D?ECm�CLFGDCmqkZY� B?Oe� m� NGBGoeFLF� F� Oe}m� _?FQ?BeO?Q?� CL� <GRJO?N?Rm'6e}?FJS�_?FQ?BeOJSp�NmK?TBUUWJp�}?�FmC�CGNGFCJSp�TL@mDEINGBGKLEJ�S?Q?�F�BeOJ�?H?B?CC?Q?�FmKKmRep�FmKmDRLF�K?�D?ECmp�KGFmC�oeF�N?OLBLCJS�EmRIOJ�oeOL@J�TL�KGTGBEJBDEF?'�4L@G�F�WLDpO?RJ� Q?BmRJ� HLEJp� NBJS�R?� N?FmK?@RGCC\� T� Oe}Lp� }?� FmCCGNGFCJS'� �2B?CUHLF�J� NJDI@?� C?D?@�p� TL� OmRIOL� KCmF� FmCFEmO�TjNmK�|LCKLB@GBm��F�DGRm�dL�JCm'

� ��rX���Wi

�?DI�TLDO?B?�N?WLRLDI�HeBE?FJCL�F�RJDE?NLKm'�<NLR?�oLQLE?DCmQep�oeF�NB?CJTRJFJS�@?B?T'�4JRICJS�FmEGB�Tm�DCmQ?@�QeR\FN?�/eNOmFDIOJH�K?RJCLH�m�FGBEGNLH'�4?ECm�OFLBEJBeFLRJ�F�DCmQLHCLK� N?E?O?@p� L� O?@LCKJB� NJDLF� TFmEJ� F� B?TFLRGCmS� HLEm� oGTFmO?C'� XeRL� KGDI� DGBGKJCL� RJDE?NLKL'� 7LNE?@� NBJS�RL� CL�L

���

DEG|L�m�N?FmK?@JRLp�}?�CL�N?Rm�F?CL�N?oLWJRL�CGFmK?@JH�RUKGSm� NBJFGRL� �H� DUKJ'� _?� HLEJ� eFmS�RL� NB?F'� 7?oGBEp� 4EGN?FLpNB?F'�4\C?FJSp�=mB?�OL�m�ABJDE\'�2B?F'�7?oGBE�m�4EGN?FL�*CL�m�KLFCm�TCLS?@m'��LDE\p�}?��H�TeDEBmRL�CL�L�DEG|Lp�o?�HE?TCLfp�\OL�K?R\�DNmEOLRL�o��H'�<?CJ�ToReKJRJ�m�S�RJ�F|G�NB?DE?CL�TL@mC?FLCm�N?R\'�9H�N?WLDEeFLRJ�NGWGC?U�oeRIo?Up�\Oe�F?CJD@LWC?� TL�KLRJp� NBJ� W?@e� NB?F'� 7?oGBE� ?N?FmKLF� NB?2GBG@J}JCep� MmOLFJFD\� CL�J@�|JEE\@� EeEp� CL�/G@OmF}JCmpEL� DOLTLFp� }?� FmKH?KJEI� e� 6BJCJWWJCe� \O� CLKBLS?C?FJSNB?FmKCJO'�_BeQ�4EGN?FL�*�MG�o?S?FJS�KBeQ�CL�?Q?�O?@LCKJBL'<mC��S�TLFK\Wef�|JEE\p�e�/m}LFDIO?@e�o?Up�O?RJ�S?Q?�CGNBJjE?@C?Q?�CGDRJ�DEBmRIMmp�L�FBG�Em�NmK�F?B?|J@�F?QCG@�o?RI�GjFJOmF�OJCeRJp�F?CL�TLoBLRL�S?Q?'�<�6BJCJWWJCe�F?CL�FmKH?KJRLp\O�BG~GBGCEOL�NB?NL�LCKJp�L�ABJDE\�*�\O�Q?DN?KLBCJO�NBJCLKBLS?Cm'�<mKN?WJF�J�EB?HJp�F?CJ�Be�JRJ�KLRm�F�K?B?Qep�LRGF|G�NGFCJ@J�DEG|OL@Jp�NmK�NB?F?K?@�CL�JH�DEBmRIMmF'

U��r�Wr� i��'X�op�X

_Fm�D?ECm�o?RI�GFJOmF�EL�OmRIOLD?E�MJFmRICJH�B?omECJOmFmT�DH?Ke�eKLBC?�FmKoeK?FeUEI�/eNOmFDIOJS�EeCGRI'�2?R\OJp�NBJ?H?B?Cm� OmRIO?H� TLRmTCJWCJH� �LBCmT?CmF� 416je� �4Re|oL1H?B?CJ� 6?RfS?FGS�� T� N?DNmH?@� FmKoeK?FeUEI� @?DEJ� mTLRmTCJWCm� �R\HJp� N?CJ}GCm� CL�?U� D?ECGU'� 1KC?Q?� KC\CLK+�HLF�NGB�JS�FmT?O'�:L�CI?@e�OmRIOL�O?RmS?FMmF'�`�CLKomQ�TB?f@� mp� Ke@LUWJp�}?� MG� FmSDIO?p� TLoBLF� e� N?R?C'� 6?@LCKJBNB?FmF� T� CJ@J� B?T@?Fep� N?WLDEeFLF� �H� L@GBJOLCDIOJ@JMJQLBOL@Jp�NB?EBJ@LF�OmRIOL�Q?KJC�m�TFmRICJF'�<?CJ�?N?FmKLRJp\O� O?RmS?FJH� DRe|o?FMmF� DJR?Up� NmK� TLQB?T?U� TFmRICGCC\� TNBLMmp�T@e�eUEI�FNJDLEJD\�F�WRGCJ�N?RIDIO?��B?omECJW?��NLBEm��227�'�5D\�2?RI}Lp�OeKJ�F?CJ�EmRIOJ�CG��TKJRJp�Q?F?BJEI�NB?o?��528�T�N?RIDIO?U�LB@mfU'�0GNGB�F?CJ�N?�HLRJ�CL�DR?FLMIOJSO?BK?Cp�CL�TeDEBmW�T�NBGKDELFCJOL@J�=mCmDEGBDEFL�O?@eCmOLMm�po?�@Lf�NB?H?KJEJ�NGB�JS�N?�TK'�2mDR\�Mmf��TeDEBmWm�@J�FmKmS�RJF�@LRJS�BGSKp�CL�TLHmKp�L�N?Em@�*�e�RmD�K?�DGRL�4eO?FLE?Q?'

]X�Xv'���m������W�����W�

=J�FJoBLRJ�DELBG�@mDMGp�KG�O?RJDI�OFLBEJBeFLRJ�o?RI�GjFJMIOm� NLBEJTLCJp�*� CL� HBGoEm� CGFGRJWO?�� Q?BJp� F� QeDE?@e

��q

D@GBGO?F?@e� RmDm� O?R?� DGRL� 4eO?FLE?Q?'� 4JRICJS� @?B?TpTL@GBTRL� TG@R\p� N?QLC?� ?K\QCGCG� DEBmRGMEF?p� LRG� FDG� EG� CGNGBG�O?K|Lf�F�B?o?Em'�P�TLNLR?@�oeKef@?�D?om�HLEJ'

d?EJ�mKeEI�F�EGBGC�?BQLCmTeFLEJ�?K\Q�m�FTeEE\'��LCKLB@GBm\KmDELRL�TLFKLCC\�FT\EJ�C?F?oBLCMmF�F�DGRLH�6eR\�CG�m�2?R?CCLp}?o��H�TL�TJ@e�NmK�O?RJEJ�EL�N?N?FCJEJ�D?ECm'

!W��W��tWp�'���W�

�?o�TC?Fe�CLB?oJEJ��e@e�CL�4R?FLWWJCmp�NGBG�O?KJEJF?B?Q?Fm�NmKE\QLEJ�DF?��DJRJ�N?�TKL@J�oRJ|WG�K?�QmB�EL�FTLQLRmeEBeKCJEJ� S?Q?� BeHp� O?@LCKJB� CLOLTLF� Q?EeFLEJ� NmKBJFCm@LEGBm\RJp�}?o�oeR?�WJ@�FJDLK|eFLEJ�@?DEJ�S�BGSOJ'�<�E?SDL@G� WLD� FmKoeFLRJD\� FGRJOm� ?oRLFJ� CL� 2GBG@J}JCm� TLOjB?@�XeBRLO?U�EL�mC�J@J�FmKKmRL@Jp�\Om�qY�RJDE?NLKL�TB?oJRJCLDO?O�CL�_JCmF'�6?@LCKJB�NBJDNm�JF�RmOFmKLMmU�@?DEmFp�}?oMJ@�DN?D?o?@�FmKE\|JEJ�OjBL�XeBRLOe'

_?�CL�?�� D?ECm� N?FGBCeFD\� �oReKCJS� DJC�� W?E'��eNLO� mNBJfKCLFD\�6BJRLEJS'�<?CJp�N?OJ�oeR?�EGNR?p�B?T@mC?FeFLRJXGDOJKp�TLQ?E?FR\UWJ�@mCJ'��eNLO?Fm�oeR?�NBJOB?�TL�DF?��QBmHJpm� FmC� KG}?� T@mCJFD\'� 0GNGB� FmC� KmDELF� B?o?Ee� NBJ�@mCeFLCCm@?DEmF'

<C?Wm� q� QBeKC\� CL�m� W?EJ� TCJ}JRJ� @m|� PLQmB+\@�*6?@LCW?U�W?EJBJ�TLRmTCJWCm�@?DEJp�OmRIOL�@GC�JH�KGBGF+\CJHEL� OmRIOL� OmR?@GEBmF� �R\He'� :L� DELCMm�� �LFCG� DNLRGC?oeKmFGRICJS�@LEGBmLRp�NBJQ?E?FLCJS�CL�oeK?Fe�DELCMm�'

2mDR\� Mmf�� ?NGBLMm�p� \OL� TC?Fe� CLB?oJRL� FGRJO?Q?��e@epN?WLRJD\�?oRLFJp�F?B?Q�K?�O?|C?Q?�TCJ}GC?Q?�@?DEL�N?DELFJFFmSDIO?Fm�WLDEJCJ�DLNGBmFp�\Om�FmKoeKeFLRJ�@?DEJ�NB?E\Q?@�KF?HEJ|CmF'�<DG�ELOJ�CL@�NBJf@C?�oeR?�oLWJEJp�\O�RGEmRJ�K?�CGoLN?OBeWGCm�BGSOJp��ELoJ�m�oRJDOLRJ�@mCJ'

U���X�����" p�X

2mDR\�D@GBEJ�OjBL�1@GRIOL�OjB�ABmC�NB?FmF�BG?BQLCmTLMmUD?ECm'�2GB�e�W?Ee�KmDELF�OjB�bBLCIp�KBeQe�*�OjB�1BmHp�EBGEU*�OjB�_eC\'� <� D?ECm� OjBL�4ELHL� NGB�e� W?Ee�@LF� OjB� PGCO?pKBeQe�*�OjB�XLSBLO'

2?R\OJ�CGCLWG�KeBCmp�omQLUEI�TL�CL@Jp��eOLUEI�DRmKmFp�L

��.

@J�NB?NLRJp�CLWG�NmK�TG@RU'�2?FmK@?B?|eFLCmp�F?CJ�NB?ORJCLRJFDmH�m�FD\p�CLBmOLRJ�CL�KG@?OBLEJWCe�2?RI}e�m�FGBELRJD\�TC?FeK?�DF?�H�QCmTK'

`O?DI�N?\FJRLD\�D?EC\�DNGMmFp�NGBGK�FJo?BL@Jp�\OL�H?KJRLT� NGBGKFJo?BW?U� NB?NL�LCK?U� N?� DGRLH'� <?CJ� oeRJ� QLBC?eoBLCmp�RUK\@�NRLEJRJ�QB?�m�TL�FD\Om�HLBWmp�\Om�oBLRJ'

1KC?Q?� BLTe� O?@LCKJB� FJDRLF� NGB�e� W?Ee� OjBL� bBLC\� mKBeQe�W?Ee�OjBL�1BmHL�CL�TLHmK�K?�DGRL�0JR\FJ�T?BQLCmTeFLEJOmRIOL��EeO�HeK?oJp� ?K\Q� m� FTeEE\'�2BJ� E?@e�FmC� DOLTLFg� �`OTeDEBmCGEG� KG� MU� NB?NL�LCKJFCe� oLCKep� E?� �N?Q?R?DeSEG�� �@TLB|LFmRJ@J� RG@OmFDIOJ@J� OeR\@J�'

4CmQe�}G�CG�oeR?p� LRG�@?B?T�oeF'�5FGW?Bm� q�� QBeKC\�@JNmKDeCeRJD\�K?�DGRL'�<�DGRm�D?EC\�NB?NL�LCKJDEmF'�b?DN?KJp�DRLFL0?omp�N?Ke@LF�\�D?omp�oeKG�OL�L�m�oLRI'�`�KmDELF�CLOLT�mT�DF?�@Jm�o?�FO?U�=LODJ@L�FBmTLEJD\�FDGBGKJCe�DGRL�m�N?WLEJ��FJo?BJ�'�?SC?� @J� NmKDeCeRJD\� NmK� HLEJp� \O� \� N?oLWJF� CL� Q?DEJCMmN?R\OmF'� A?K\EI� N?@m|� HLEL@Jp� ToJRJD\� CL� Q?DEJCMm� m� CmW?Q?CG�TCLUEI'�`�KLF�BeO?U�TCLOp�L�RG@OJ�\O�|LBCeRJp�E?�TQR\CID\pX?|G�@JRJS'�/\HJ� N?WLRJ� FEmOLEJp� EL�@J�|LBJ@?� N?� TLKCmH'6JKLUEI�N?�K?B?Tm�CLNRmWCJOJp�O?MJp�L@eCmMmU'

<�K?RJCm�?NGBeFLF�OjB�1BmH'�0L�QBeNL�FJRGEmRL�CL�B?S'�PL\M\pL�FmC��@�\O�|LBCGp�E?�F?CJ�L|�ToLBLCmRJ'�1KCm�N?@m|�HLEJp�KBeQmF�RmDp�L�EBGEm�F�N?RG�B?TomQRJD\'�=J�DNLRJRJ�F?R?DEIp�L�F�CLDRmK?Oo?U�TQ?BmR?�OmRIOLCLKM\EI�HLEp�TL�\OJ@J�@J��O?KeFLRJp�o?�MGoeRJ�eOBL�CDIOm�HLEJ�N?�FJDGRGCM\Hp�F�\OJH�TL@G�OLRJ�N?R\OJ'

<�o?U�F?B?Q�eEBLEJF�qn�eoJEJ@J�m�oLQLE?�BLCGCJH'5� CLD� TLQJCeF� B?S'� /JD� m� FmKReWJFD\� FL|O?� N?BLCGCJS

DEBmRGMI�T�NmKFmKKmRe�OjBL�XLSBLOLp�}?�N?NLF�F?B?Q?Fm�F�BeOJ�FDGRm� 6?B?RJO�2?RIDIOJS'� <mC� E?Km� TLoReKJF'� 0?@e�}?� F� WLDo?U�@J� NGBGomQLRJ� OmRIOL� BLTmF� BmOep� L� oeF� DJRICJS�@?B?TpOmRIOLCLKM\EI�DEBmRIMmF�?o@?B?TJR?�D?om�NLRIMm�m�FeHL'

:LDGRGCC\�DELFJR?D\�K?�CLD�K?oBG'�_?oB?FmRIC?�TR?|JR?CL@� ?K\Q� m� HLBWm� KR\� FmKKmRe'�2?� TomBMmp� \OL� KLRL� Ke|G� QLBCmCLDRmKOJp�@J�N?Q?F?BJRJ�T�@G�OLCM\@J�E?Q?�DGRLp�N?R\OL@JpCL�EG@J�CL�?��BGF?RUMmSC?��o?B?EIoJ�T�o?RI�GFJOL@J'

P?BQLCmT?FLCm�F�DGRm�m�TK?oeEm�FmK�F?B?QL�BGWm�@J�FmKmDRLRJK?�ELo?Be'

PL�MGS�omS�KmDELRJ�N?HFLRe�DE'�FmDE'�B?S'�PL\MI�m�\'

���

� '�

PJ@L� qkZYjZn� TeDEBmRL� CLD� NmK� Q?RJ@� CGo?@'� 5|G� N+\EJSBLT�F?B?Q�FmKCLS�?F�CL�m�ELo?BJ'�2?WLF�J�FmK�DGRL�2BeDOLpFmK�qk�|?FEC\�oGT�NGBGBFJ�H?KJEI�TL�CL@J�?KJC�N?RO�6X<je'2BJWGNJFD\p�\O�BGN+\H�K?�O?|eHL'�XeRJ�WLD?@�KCmp�}?�RLTJRLTL�CL@J�MmRL�KJFmTm\'

=J� @?QRJ� �H� oJEJ'� 1E� ELO��LBNLEJ� N?� OLFLRO?Fmp� LRGNBJS�?F�CLOLT�FmK�OjBL�FmKEJCOep�}?o�TJ@?U�CG�FGDEJ�|?KCJH?NGBLMmS�m�TLWmNC?jOLBLRICJH�o?�F'�<?B?Q?Fm�FL|O?�N?DeFLEJD\pB?TFmKeFLEJp� FJO?BJDE?FeFLEJ� LFE?@L�JCJ� S� LFm\MmU'� <mC� CG@?|G�NGBGOJKLEJ��FJKO?�DF?��DJRJp�m�H?W�TL�CL@J�RJ�LfEID\DRmKp�LRG�@J�TL�K?FQe�TJ@?Fe�CmW�NB?H?KJ@?�DEmRIOJp�}?�S?@eFmKH?WGEID\�TL�CL@J�H?KJEJ'�<?\O�T�EGNRJH�OLTLB@�CmO?RJ�CGK?BmFC\f�e�FJEBJFLR?DEm�NLBEJTLC?Fm'

dLD?@�NmKE\QCG@?�HLBWmp�TLSKG@?�F�RmD?Fm�CGEBmp�B?TNLRJ@?F?QCJ}Lp� FJDEGRJ@?� CLFO?R?� WLEJCC\@� m� ELO� DJKJ@?� OmRIOLKCmFp� N?OJ� f� HLBWm'� 4RmKJ� TL� CL@J� TLOBJf� DCmQp� @J� oB?KJ@?N?E?OL@J�Lo?�@LDOef@?D\�BmTCJ@J�DN?D?oL@J'�dLD?@�oGBG@?T�D?o?U�D?R?@ep�CGDG@?�?oGBG|C?p�}?o�CG�TQeoJEJ�DEGoRJCJ'>C?Km�@Lf@?�oLQLE?�D@mHe�m�BLK?}mF'�P�?KC?Q?�o?Oep�NBJQ?BJEI�JCGR\�FmK�F?QCUp�L�T�KBeQ?Q?�*�NBJ@GBTRL�K?�DCmQe'�7LCO?@mKeEI� DEBmRIMm� ToJBLEJ� CL� N?Q?BmRJH'� :LSQmB�L� K?R\� TJ@?UT?BMmF� m�TLDELF'�<?CJ�oGT�F?QCUp�Ke|G�WLDE?�NGBG@GBTLUEI�FN?KGBE?@e�FTeEEmp�F�KBGRmH?FJH�eoBLCC\Hp�F�RGQOm@�L@GBJOLCjDIOm@�NRL}JOep�L�WLD?@�EmRIOJ�F�NLRLEMm'�5@?FJ�F�CL�?@e�EGBGCmoeRJ� Ke|G� FL|Om'� XBLOeFLR?� HLBWmFp� NGBGKeDm@�@+\DL� m� HRmoL'XmKCe� /G@OmF}JCe� F� WLD�~B?CE?FJH� KmS� ?QBLoeFLRJ� Cm@Mm� mo?RI�GFJOJp� oLQLE?� DmR� TQ?BmR?'� 2mTCm�G� NBJS�RJ� WGBF?CmN?R\OJp�DNLRJRJ�OmRIOLKGD\E�DmRp�N?QBLoeFLRJ�RUKGS�m�n��FmKD?EOmFFJDGRJRJ'� 0G� CLDGRGCC\p�}?� RJ�JR?D\p� oeR?� ELO� ?QBLo?FLCGp}?� m� ?NJDLEJ� FL|O?'� 6eBOJ� F� CL�?@e� EGBGCm� CmHE?� CG� @LF'XmRI�mDEI� Q?DN?KLBmF� @LRL� EmRIOJ� N?� ?KCmS� O?B?Fmp� L� mC�m� CG@LRJ�T?FDm@�CmW?Q?'�:L�DGR?p�\OG�CLRmWeFLR?����*�w��Ke�p�oeR?KF?fjEB?f�O?CGS'

:LDGRGCC\p� ?KCLOp� oeR?� FmKKLCG� CL@� m� CL�mS� DNBLFm'� `OEe|JRJ�TL�CL@J�RUKJp�CG�F@mU�S�?NJDLEJ'�XeR?�CG�NBJSKG@?\OJSDI�WLD�K?�DGRLp�E?�TLBLT�m�KJFeUEID\p�}?�DELR?D\p�W?@e�CGNBJS�RJp� WJp�@?|Gp� QCmFLf@?D\'

��Z

:LTJFLRJ� CLD� DF?�@J� �?BRL@J�p� �D?O?RL@J�p� �QGB?\@J�p�HR?NM\@J�T�RmDe�p��K?B?QJ@J�?o?B?CM\@J�p��BmKCJ@�FmSDIO?@�p�KmEI@J�p� L� O?@LCKJBL� CL�?Q?� CLTJFLRJ� �CL��ABmC� /G@OmFjDIOJS�p��CL��oLEIO?�p��CL��?o?B?CGMI�p�L�FmK�CLD�NBJ}GNJR?D\@m|�CLDGRGCC\@�DR?F?��CL��ELE?��m��DELBJS�'

0LO�@mBOeUWJ�omR\�F?QCJ}L�NB?�FDm�DNBLFJp�\�DELFJF�D?omNJELCC\g��8�HE?�F?UFLF�oJp�\OoJ�TC\RJ�O?@LCKJBLp�}?�DOLTLR?o�CLDGRGCC\p�O?RJ�o�K?FmKLR?D\p�}?��H�?H?B?CGMI�TFmRICGCJSp�m\O�FJQR\KLRL�o�EGNGB�CL�L�D?EC\�EL�WJ�FTLQLRm�mDCeFLRL�o�'��mNJELCC\�DELFJF�\�D?om�CG�RJ�G�\O�DF?U�FRLDCe�Ke@Oep�LRG�ELOmDL@m�NJELCC\�DELFJRJ�CG�BLT�m�DEBmRIMm�F�D?ECm'

��p�o ��p

:L�0JR\Fm� \� TK?oeF� D?om� NGB�?B\KCe� N?RIDIOe��JCGRU'6?RJ�\�N?FGBCeF�K?�ELo?Bep�E?�N?oLWJFp�}?�@mS�O?@LCKJB�H?KJEIoGT��JCGRm'�`�TFGBCeFD\�K?�CI?Q?�T�NB?N?TJMmfU�FmKDEeNJEJ���S?@ep�L�\�D?om�}G�T?BQLCmTeU'�<�?o?H�D?EC\H�oBLOeFLR?�}G�.q�JCGRm'�6?@LCKJB�ABmC�FmKOJCeF�@?U�NB?N?TJMmU�m�DOLTLFg��`NBJS@e�MU��JCGRUp� LRG� E?Kmp� O?RJ�O?|GC� DEBmRGMI� F|G�oeKGeoBLCJS'�`�N?FJCGC�eoBLEJD\�?DELCCm@�'�6?@LCKJB��JCGRm�CGNBJSC\F'��G�K?FQ?�H?KJF�e�@LBJCLBMmp�H?W�oeF�DJRICJS�@?B?T�mDCmQp�L�CLOBJFLFD\�EmRIOJ�NLRLEO?U'

<�EGBGC�FmKmS�?F�BmS�DE'�FmDE'�AJEB?Q?'�<mC�@LF�CLDO?WJEJCL�DGR?�2?R?FMm�NmK�4\CmO?@�m�EL@�B?TToB?�EJ�@mRmMmU'

=GCm� NBJORUWJRLD\� N?QLCL� NBJQ?KL'� <� EmS� |G� QLBCmS�JCGRmp�\Oe�\�KLBeFLF�O?@LCKJB?Fmp�\�TLDCeF�omR\�F?QCJ}Lp�LO?RJ�NB?OJCeFD\p�E?�TLeFL|JFp�}?�FJQ?BmRJ�@GCm�MmRm�NRGWm� mNmF�BeOLFL'�XeR?��O?KL�m�D@m�C?'�5D\�D?EC\�OBJWLRLp�}?�@GCmEBGoL�mEJ��TL�TomBO?U�CL�N?Q?BmRJH�'

�?SC?�O?RJ�N?FGBCeFD\�B?S'�AJEBJSp�FmC�NBJCmD�OmRIOLjCLKM\EI�TK?oeEJH�C?FJH��JCGRI'�<�D?ECm�F|G�CG�oeR?�CmO?Q?p}?o�CG�@LF�o?KLS�OeBEOJ'�`�m�O?@LCKJB�FoBLRJD\�EGNGB�F|G?DELCCmp�LRG�TLEG�F�K?oBm��JCGRm'�<�E?@e�F�NGB�mS�@mBm�TLDReQLDE'�FmDE'�B?S'�PLSWJOLp�}?�TC\F�T�DGoG�DF?U��JCGRU�m�FNJBLFD\ELO�K?FQ?p�N?OJ�O?@LCKJB�CG�FT\Fp�L�DL@�eoBLFD\�F�@?U�DNLRGCep\Oe�S?@e�Ke|G�QLBC?�N?RLELF�DE'�FmDE'�<JBFL'�4E'�FmDE'�PLSWJOoeF� Ke|G� WGDCJSp� mKGSCJS� m� OLBCJS� NmKDELB�JCL'� <Dm� S?Q?� FD?ECm�RUoJRJ�m��LCeFLRJ'

��[

V�X�����W��X���X

2GBGK�7mTKF\CJ@J�DF\EL@J�TFGBCeFD\�\� m� W?E'�XLSBLO�K?O?@LCKJBLp�}?o� KLF� CL@� FmKNeDEOe� CL� DF\EL� F� XmBWLC}JCe'<mKNeDEOe� @J� KmDELRJ'� P� CL@J� Nm�R?�}G� KF?f� DEBmRIMmF� KR\?H?B?CJ'�_e|G�BLK?�FmELRJ�@GCG�@?�� TCLS?@m�DGR\CJ� m�KBeTmjN?FDELCMm'� P� FGRJOJ@� TLMmOLFRGCC\@� m� FK?F?RGCC\@� DReHLRJ@?��?N?FmKLCC\�NB?�CL�m�o?��CL�/G@OmF}JCm'�=GCm�TLTKBJRJp�m\�oeF�}LDRJFJSp�}?�NGBGoeFLU�F�RLFLH�ELO?��DRLFC?��/G@OmFDIO?�D?ECm'�1KGB|LRJ�@J�oLQLE?�N?KLBeCOmFp�DGR\CJ�CG�TLoeRJ�ELO?|TL�CL�?Q?�O?@LCKJBL'�XLQLE?�N?KLBeCOmFp�DF\E?WCJH�N?oL|LCINBJCGDRJ�@J�KR\�CI?Q?�T�N+\E?Q?�BjCe�m�XmBWLC}JCJ'�7mTKF\CmDF\EL� FmKoeF� \� F� DGRm�2L�?FmS'� PL� E?S�WLDp� O?RJ�@J�oeRJ�CLFmKNeDEMmp� ?KCL� KJFmTm\� N?RIDIO?Q?� FmSDIOL� B?oJRL� ?oRLFJ� CLXGDOJKmp�CL�ABG}LEmSp�CL�XeO?FJCmp�L�D?EC\�}LDRJF?�DF\EOeFLRLKFL�KCm�F�2?R?CCmSp�L�EBGEmS�KGCI�*�F�DGRm�/eOmF'

#����q��� �� �� r '�� ������

�?SC?�\�K?ReWJFD\�K?�D?ECmp�\O�O?@LCKJB�TmoBLF�omSMmF�mDOLTLFp�}?�@J�SKG@?�F�NB?NL�LCKJFCJS�BGSK�K?�KBeQ?Q?�BLS?CeNB?F'�X?BJDL�m�EBGEI?Q?�BLS?Ce�NB?F'�5KLBCJOL'�2m�RJ�@J�E?@ep}?�N?R\OJ�DOBmTI�FGRJ�NGBGKFJo?BWe�NB?NL�LCKep�L�CLDGRGCC\F�EJH�DGRLH�oeR?�NBJQC?oRGCG'�4?ECm�OjBL�X?BL�F|G�KLFC?�EL@CG�oeR?'�<?CL�TJ@eFLRL�F�PLEFLBCJMIO?@e�RmDm�F�NGB�?@e�BLS?CmF� 0BJOeECJOe'

6?@LCKJB� TB?oJF� TomBOep� N?FWJF� DEBmRIMmFp� \O� @LUEIN?F?KJEJD\� F� EGBGCmp� NB?�}?� Q?F?BJEJ� T� DGR\CL@Jp� B?S?FJ@KLF� mCDEBeOMm�p� L� N?Em@� K?� FDmH� DOLTLFg� �<� BGSKm� \� H?We�@LEJFGDGRGp�|JEEfBLKmDCG�FmSDIO?'�4OBmTI�DNmFLEJ�NLEBm?EJWCm�NmDCmpB?TFGDGRJEJ�CLB?K'�`O�TeDEBmCG@?�F?B?QLp�oeKG@?�oJEJ�'

=J�Nm�RJ�K?�DGRL�0JDO?FJp�2?R\C?Op�<?Rm�b?B\CDIO?�p�<?Rm=LEm\�?F?�p� XGBGTOJp� /eO?F?Q?'�2?� K?B?Tm� O?@LCKJB� DOBmTIFRL�E?FeFLF�To?BJp�B?S?Fm�m�W?E?Fm�*�NB?NL�LCKJFCm�B?T@?FJpL�DEBmRGMEF?�DNmFLR?'

:L��BGSK�EBJFLF��mDEI�KCmF'�:LB?Kp�N?oLWJF�J�CL�e�DJRep\O�@J�@LB�eFLRJ�mT�DNmF?@�DGRL@Jp�FmKBLTe�?|JF'�2B?F'�X?BJDOLTLF�CL@p�}?�@J�EJ@�BGSK?@�omRI�G�TB?oJRJp�Cm|�BLS?C?FJSNB?NL�LCKJDE�TL�?KJC�BmO'��?SC?�@J�N?\FJRJDI�F�E?@e�EGBGCmp

��Y

O?@LCKJB�TLo?B?CJF�DmRIDIOm�FLBEJ�m�}?KGCCG�N?FmK?@RGCC\�FXLRJQ?B?Km�m�<?RO?FJ��NB?�EGp�HE?�FC?Wm�oeF�e�DGRm'�<D\Om�N?RIDIOmQBeNJp�\Om�H?KJRJ�FmRIC?p�T�DEBLHe�NGBGK�CL@J�TCJORJ'�4EBmRIMmKe|G�BLK?�DReHLRJ�NB?@?FJ�O?@LCKJBLp�NmK�WLD�\OJH�CLDGRGCC\E?� NRLOLR?p� E?� D@m\R?D\'� 6?@LCKJB� DF?fU� NB?@?F?U� F@mFTR?FJEJ� RG@OL� TL� DGBMG'� 2?RmEFJH?FCJO� D?ECm� �\NOL� WJELFDGR\CL@�eOBL�CDIOm�QLTGEJ�T�8@GBJOJp�}?�NBJH?KJRJ�K?�DGRLXGBGT?FGMI� CL� LKBGDe� ?KCmf��|mCOJjeOBL�COJp� L@GBJOLCDIO?�QB?@LK\COJp�KR\�CL�?��D?ECm'

<� DGRm� XGBGTMm� NBJS�RL� K?� CLD� BLS?C?FL� BG~GBGCEOLDeDNmRIC?��?NmOJ�0GE\CL'�5Dm�@J�����LCeFLRJ�m�RUoJRJp�o?�F?CLpKmFWJCLjF?\Op�Ke|G�RUoJRL�FmSDIO?p�o?�O?RJDI�DL@L�oeRL�F�D?ECmOjBL�d?BC?Q?'�2B?�CG��\�oLQLE?�WeFp�}?�F?CL�oeRL�CLSOBL}J@B?TFmKCJO?@�e�KBeQmS�D?ECm��_Be|JCCJOmF�p�oeRL�Ke|G�FmKFL|CLpB?Te@CL�m�WGDCL�KmFWJCLjN?FDELCGMI'

6?RJ�@J�oeRJ�F�DGRm�XGBGTMmp�F?B?Q�e�<?RO?FJ��m�XLRJQ?B?KmeFGDI� WLD� N?DEBmRUFLF� m� NeDOLF� BLOGEJ'� P�4\C?OLp� PLQmB+\� m/mDIOL�LFE?@L�JCL@J�N?WLR?��HLEJ�FmSDIO?�K?�XLRJQ?B?KL'

l��������!X���W'

:L�S?BKLCDIOJS��GKBJS�FGWmB�@J�TLS�RJ�K?�DGRL�/eO?FL':L�L�W?EL�oeRL�DRe|o?F?U'�:LDGRGCC\�FmELR?�CLD�Ke|G�BLK?p�mO?|CJS� Q?DN?KLB� m� Q?DN?KJC\� H?EmRJ� @LEJ� F� DGoG� F� HLEmN?FDELCMmF�CL�4F\EjFGWmB'�<�E?@e�DGRm�E?Km�oeR?�omR\�DEL�B?KJC'0eE�oeRJ�CG�RJ�G�ReOmFMmp�\Om�FB\EeFLRJD\�NGBGK�FJDGRGCC\@'0eE� oeRJ� B?KJCJ� T� DmR� 4GBGKCI?Q?p� 6LRICJMmp� 4eO?FLE?Q?'2?R\OJ� TLo?B?CJRJ� DGR\CL@� eOBL�CDIOm� DF\EL'� <Dm� @JDN?KmFLRJD\p�}?�NBJSKG�DI?Q?KCm�FC?Wm�oLCKL�N?RIDIO?Q?�FmSDIOLNGBGFmBJEJp�WJ�RUKJ�DF\EOeUEIp�N?QBLoeFLEJ�DF\E?WCG�NGWJF?pCLNJEJD\� DL@?Q?Cep� TCLUWJp�}?� EeE�|GCeEI� S?Q?� CLSOBL}G'0B?HJ�CL@�oeR?��O?KLp�}?�@J�DI?Q?KCm�F�DRe|omp�o?�F�CL�mSD?ECm�oeF�ELOJS�N?B\K?Op�}?�F�DRe|o?FmS�W?Em�CG�@?|CL�oeR?FJNJEJ� |?KC?�� WLBOJ� Q?BmROJ'� 6?RJ� DEBmRGMEF?� FGDGR?TLoLFR\R?D\p�F�K?Rm�CI?@e�OmCMm�DGRL�oRJDCeRJ�F?B?|m�BLOGEJ'<?B?Q� m�?F� D@mR?p� TCLUWJp�}?�@J� KGDI� O?R?� XLRJQ?B?KLp� o?EeKJ�N?�HLRL�?oRLFL'�:L�L�W?EL�Nm�RL�CL� TLDELFe'�6?@LCKJBDOLTLFp� }?� T� DGRL� CG� NmKG@?'� `� T� DF?�@� B?f@p� OjB� bBLCIpB?S'�PLSWJOp�B?S'�<?RJCGMI�NmKDeCeRJDI�CLNGBGK'�=J�DJNCeRJ

��n

F?QCG@� N?� N?R\OLH'� PWJCJFD\� omS'� PL� E?S� WLD� O?@LCKJBB?TE\QCeF�DEBmRIMmF�m�N?R\@Jp�@m|�DGRL@J�/eO?F?@�m�dL�JC?@pN?WLF� ?E?WeFLEJ� N?R\OmF'� 2?R\OJ� TLNLRJRJ� ?KCe� HLEepTLLBG�EeFLRJ�OmRIOL�?Dmo�m�FEGORJ'

:L�V?BKLC�@J�Nm�RJ�K?� DGRL�6eR\�C?Q?'�0mRIOJ�N?WLRJ@J� Q?DEUFLEJp� L� EeE� N?FmK?@R\f� OjB� PGCO?p�}?� �.� N?R\OJ� FomRJH�@LDO?FOLH�NmKDeFLUEID\�K?�CL�JH�HLE'�d?EL�OjBL�PGCOLKmDELRL� CLOLT� B?ToJEJ� N?R\OmFp� LRG� EeE� TmoBLRJD\� ?H?ECJOJjOeRG@GECJOJp�NmKNeDEJRJ�N?R\OmFp�FoJRJ�N?BeWCJOL�m�OLNBLRLpL�BG�EL�N?FEmOLRJ'�=J�KLRm�DF\EOeFLRJ�F�DGRmp�L|�O?RJ�CLK+�HLRLNLCMGBOLp�@J�FJS�RJ�F�6eR\�C\CDIOJS�RmD'�4?EC\�N?RIDIO?Q?FmSDIOL�o?\RLD\�SEJ�TL�CL@J'�XmRI�m�F?B?|m�DJRJ�B?oJRJ�?oRLFJF�DGRLHp�KG�@J�oeRJ�NB?NL�LCKJFCJ@�BGSK?@'

\���Wp���q���X��

�?o�B?TN?FmDEJ�NB?�?KC?Q?�L�GCEL�F�DGRm�6eR\�Cm@p�@e�eN?FGBCeEJD\�}G�K?�?KCmf��N?Km�p�\OL�@LRL�@mDMG�F�2BJoJ�mFDIO?j@e�RmDm�F�EBLFCm�Lo?�WGBFCm�qkZY�B?Oe'

1KC?Q?�KC\�OjB�ABmC� m�OjB�bBLCI�DmRJ�CL�O?CGS� m�WFLR?@N?�HLRJ� F� CLNB\@m� N?E?Oep�}?� NRJF� K?� DGRL�`FmBCJOL'�/GKFGFJ�HLRJ� T� RmDe� CL� WJDEe� N?R\Cep� \O� eNLF� N?DEBmR'� 4N?WLEOeOjB� Ke@LFp�}?� DEBmR\f� W?E?FJS� bBLCI'� 6eR\� DFJDCeRL� S?@eomR\� DL@?�� Q?R?FJ'� 7LNE?@� eNLF� KBeQJS� N?DEBmR'� 0GNGB� F?CJT?BmfCEeFLRJD\�F|G�?oJKFLp�}?�HE?DI�DEBmR\f�T�Qe}LOmF�CGKLRGO?�OJW?BJ'�2?TmDOLOeFLF�J�T�O?CGSp�F?CJ�N?omQRJ�F�O?BWmp�TFmKOJN?WLRJ�B?TQR\KLEJD\p�WJ�CG�@LUEI�DNBLFJ�T�N?RIDIOJ@�FmSDIO?@'6jB� bBLCI� FmKBLTe� DOLTLFp�}?� DEBmR\UEI� L�GCEJ� Lo?� F?B?|mB?TFmKLWm'�4O?B?�F?CJ�N?FGBCeRJD\�K?�ELo?Bep�L�O?@LCKJB�N?WLFNGBGFmB\EJp�O?Q?�T�DEBmRIMmF�CG@L�Lo?�HE?�F�MU�HFJRJCe�F�RmDmpN?KLRm�FmK�ELo?Be'�<�ELo?Bm�oeR?�FDG�F�N?B\KOe'�6?RJ�O?@LCKJBDOLTLFp� }?� HE?DI� H?EmF� S?Q?� TLDEBmRJEJp� DEBmRIMm� CGQLSC?B?TomQRJD\�QBeNL@J�N?�RmDep�}?o�NGBGFmBJEJp�WJ\�MG�B?o?EL'�<RmDm�CG�oeR?�CmO?Q?'

2?� \O?@eDI� WLDm� FJDR?WLCJp� }?� OBJRJD\� F� RmDLH� FmKFJDGRGCC\p�OLTLRJp�}?�oLWJRJ�OmRIOL�NmK?TBmRJH�?Dmop�?K\QCeEJHe� MJFmRICGp� mT� ToB?fUp�}?� DO?BJ@� OB?O?@� m�RJ� F� CLNB\@m6?@LCWm'��G�oeRL�F?B?|L�B?TFmKWL�QBeNL'

�\�N?Km\�CLDE?B?|JRL�@?U�eFLQep�m�\�N?WLF�EGNGB�omRI�G

��w

NJRICeFLEJ� O?@LCKJBL� EL� ?oDGBFeFLEJ� DEBmRIMmF'� 0LOe� DL@eB?o?Ee� FmF� DE'� FmDE'� AJEBJSp� DE'� FmDE'� bBm@p� DE'� FmDE'� 4?OmR� mO?@LCKJBJ� W?E'

:L�L�O?CEBB?TFmKOL�NBLMUFLRL�CG�TRG'6?@LCKJB� EG|� @LF� N?� DGRLH� DF?�H� B?TFmKLWmFp� \OJH

O?CDNmBeFLF�NGBGK�CL@J�m�TeDEBmWLFD\�T�CJ@J�EmRIOJ�DL@p�L�CL?H?B?Ce� oBLF� T� D?o?U� D?EGCC?Q?� TF+\TO?F?Q?� 7JoLROe� Lo?W?E'�1@GRIOL'�XeFLRJ�FJNLKOJp�}?�m�DL@m�DEBmRIMmp�CG�B?Te@mUWJpW?@e�O?@LCKJB�mKG�EmRIOJ�FKFmSOep�H?EmRJ�S?@e�NBJDRe|JEJD\EL� DL@m� oGBGQRJ� S?Q?'�2L@+\ELUp� oeR?� OmRIOL� FJNLKOmFp� O?RJO?@LCKJB� Nm�?F� CL� TeDEBmW� mT� DF?�@J� B?TFmKLWL@J� Lo?N?RLQ?KJEJ�\OmDI�mC�m�DNBLFJ�F�DGRmp�L�DEBmRIMm�oGT�N?FmK?@RGCC\omQRJ� DRmK?@� TL� CJ@'�6?RJ� FmC� FJH?KJF� T� HLEJ� mp� N?oLWJF�JDEmSO?FJHp� NJELF� �Hp�}?� F?CJ� EeE� B?oR\EIp� HE?� �@� K?TF?RJFFJH?KJEJ�T�ELo?Bep�F?CJ�FmKN?FmRJg��0L�@J�NBJS�RJ�CL�DEmSOep}?o� WLD?@� FLD� HE?� CG� OB?NCeF�'� 0LOJ@J� FmBCJ@J� F?\OL@JoeRJ�FmDE'�6?R\��OLTLH�p�DEB'�2GEBJOp�FmDE'�4RLFO?p�OeR'�:GER\pB?S'� DE'� FmDE'�<JBFLp� FmDE'�XGDOJKp� FmDE'�1Bm�?Op�FmDE'�4RJFOLpNBJTCLUDIp�m�\'

:GFK?FTm�@J�FNLRJ�CL�DRmK�?KCmf��MmOLF?��DNBLFJ'�_?�DGRL/eO?FL� NBJ�HLRL� Ke|G� QLBCL� eWJEGRIOLp� N?RIOLp� FWJEJ� KmEGS'<?CL�FKLFLRL�T�DGoG�DJ@NLEJWOe�86p�NGBGKLFLRL�KR\�N?FDELCMmFQLTGEJ�m�|eBCLRJ'�1KCL�B?TFmKLWOL�O?@LCKJBL�KLRL�TCLEJp�}?M\� N?RIOL� CJ@� Ke|G� MmOLFJEID\p� FJNJEeFLRL� ��p� WJ� O?@LCKJBRUoJEI�KmFWLEp�Q?BmROep�D?R?K?}mp�WJ�QLBCJS'

1KC?Q?�BLTe�K?�CG��FJoBLRLD\�CL�L�NLWOL'�d?E'�1@GRIO?QBLf�B?RU�ABmCLp�L�O?@LCKJB�ABmC�W?E?F?Q?�1@GRIOL'�5WJEGRIOLTB?oJRL� FGRJOJS� NBJS?@p� oeRL� Ke|G� BLKLp� TLNB?�eFLRL�O?@LCKJBL�ABmCL�p�}?o�NBJH?KJF�WLDEm�G'�6?RJ�CGFK?FTm�FNLFO?@LCKJB�1@GRIO?p�@J� NGBGK� CGU�O?CDNmBeFLRJp� HE?� FNLFp� LDE'�FmDE'�AJEBJS�FKLFLF�TF+\TO?F?Q?�@m|�OjB?@�ABmC?@�m�CGU�ELNGBGKLFLF� �~LoBJO?FLCm� RJDEJ�'� =J� NBJNeDOLRJp� }?� FCLSoRJ|WJS� NBJHmK� �O?@LCKJBL�� K?� CG�� F?CL� @LRL� S?Q?TLDEBmRJEJ�Lo?�?EBe�EJ'�b?DN?KJC\����F|G�oeRL�NmKQ?E?FLCL�CL@J'4L@G�@J�NeDEJRJD\�SEJ�K?����HLEJp�}?o����TR?FJEJp�\O�N?WeRJN?DEBmRJ'��G�@mDMGFm�Oe}?FJOJ�CLDO?WJRJ�CL�KJBGOE?BL��O?RJ_GBOLWL��DN?RI}GCJS�B?Dm\CJC�*�WRGC�227��m�TLDEBmRJRJ�S?Q?'<mC�@m|�mC�J@�oeF�NBJWGECJS�K?�DNBLFJ�T�eWJEGRIO?Up�o?�@LFTFLoRUFLEJ� �O?@LCKJBL�� K?� CG�'� 6?RJ� eWJEGRIOL� N?WeRLp�}?

��k

KJBGOE?BL�eoJE?�m�F|G�}?DI�T?BmfCEeFLRLD\p�}?�E?Sp�O?Q?�F?CL�RUoJEI�p�CG�ABmCp�F?CL�Emf��DL@?��C?Wm�KLRL�C?QL@�TCLEJ'

0L�MG�CG�FDG'�<�EGBGCm�oeRL�B?T�J~B?FLCL�BG~'�4X�beMeR?@EBGE\�DNBLFL'

<�DGRm�=?OB?@e�N?R\OJ�TFmRICJRJ�T�EUB@J�?KC?Q?�F+\TC\pQ?DN?KLB\�T�MI?Q?�DGRLp�T�TLFKLCC\@p�}?o�FmC�TFLoJF�K?�DGoGOjBL�ABmCLp� CmoJ�@Lf�}?DI� FL|RJFG� NGBGOLTLEJ� T� EUB@J� FmKF+\TCmFp�L�NBJ�E?@e�N?FmK?@JEJ��LBCmT?C�CL�O?NLRICmp�F�\O?@eoeR?�ELO?|�OmRIOL�T�eB\Ke�N?RIDIO?��FCeEBm�C?��oGTNGOJ'

:L� DRmK� Emf�� DNBLFJ� FNLR?� 4Xp� N?WLR?� B?TFmKeFLEJp� LRGQ?DN?KLB� FJNGBGKJF�4X� m� DL@� N?FmK?@JFp� T� \OJ@� TLFKLCC\@TFmRICJRJ� S?Q?� N?R\OJ� T� EUB@J'� 8�GCEeBL� F|Gp� FJKC?p� Km\RLDJRIC?'�A?WL�o�ELOJS�~LOEp�}?�o?RI�GFJMIOL�OmCC?EL�?E?WJRLDL@G� Ee� HLEep� F� \OmS� O?@LCKJB� @LF� OFLBEJBeFLEJp� m� EmRIOJNGBGKWeEE\�FB\EeFLR?�S?Q?g�NGBGS�?F�K?�mC�?��HLEJ'

_LRm� N?KL@� DNBLFe� ?KC?Q?� KGTGBEJBL� T� DGRL�6eR\�C?Q?'4GR?�6eR\�CG�oeR?�CLS@GC��TLMmOLFRGCG�CL�?U�o?B?EIo?UF� EGBGCm'� PJ@?U�@J� FT\RJ� OmRIO?H� C?FLOmFp� m� ?KJC� T� CJH�*7GfCE� >RIO?p�DJC�>FLCLp�TKGTGBEeFLF'�2m�?F�K?�DGRL��LFC?Q?pDmF� CL� NLCMGBCJS� N?E\Q� m� TQ?R?DJFD\� e� F?B?QL'7?S'�DE'�FmDE'�AJEBJS�m�\�\OBLT�EGNGB�N?�DF\ELH�NmS@LRJ�S?Q?'2B?FGRJ�DRmKDEF?p�NB?E?O?R�\O?Q?�\�@LU�T�D?o?U�m�N?KLU�S?Q?F�MmR?DEm'

�`� FEmO� e� DGRm� 7GNGKm� F� QBeKCm� T� BeO� DE'� FmDE'� 4?O?RLpO?@'�|LCKLB@GBm�'�6BmD�RJ�JF�e�DmC\H�TL�KFGB@J�F�EmS�HLEmp�KG@J� OFLBEJBeFLRJ'� 6?RJ� \� NBJS�?F� K?� DGRL� 6eR\�C?Q?p4ELKCmMIOJS�Nm�?F�K?�EGRG~?Ce�TLKTF?CJEJ�K?�6?@LCWmp�}?�\F|G�FEmO'�=GCm�CLOLTLF�EL@�T+\FJEJD\'�6?RJ�\�T+\FJFD\p�@GCGCG�oJRJp�EmRIOJ�DE\QCeRJ�NB?E?O?Rp�L�CL�KBeQJS�KGCI�TFmRICJRJ'<�NB?E?O?Rm�\�TmTCLFp�\O�FJQR\KLf�ABmCp�}?�FmC�@Lf�.���F?\OmFpCL� KFLCLKM\EI� F?\OmF� KFL�OeRG@GEJp� N?� EJD\Wm��EeO�NLEB?CmFCL�OeRG@GEp�}?��H�C?DJRJ�L@eCmMmSCmp�L�K?KLEO?Fe�L@eCmMmU�}GCGDRJ�DEBmRIMm'�2?RIDIOJH�?~mMGBmF�MmOLFJR?�Ke|Gp�TFmKOJ�@JoGBG@?� L@eCmMmUp� F� W?@e� m� DOmRIOJ� ��� C?DJ@?p� KJFeFLRJD\�FJKO?DEm�CL�JH�@LB�mFp�NGBGOJKLCC\�T�@mDM\�CL�@mDMG'�̀ OJSDIOLNmELC�KJFeFLFD\p�}?�N?FDELCMm�ELOm�FJEBJFLRmg��<�CLD�NmK�WLD?oRLF�f�EBLCDN?BE?Fm�O?Cm�m�DEBmRIMm�C?D\EI�@GC�G�L@eCmMm�p�LN?�?oRLFm�RGKFG�FGBELUEID\�K?�NR\MmFOJ�'�2JELRJ�@GCGp�DOmRIOJBLTmF� @J� DN?WJFLf@?� CL� BmFC?@e� EGBGCmp� \O� FJQR\KLf� CL�G

�q�

TLoGTNGWGCC\p� DOmRIOJ�@LB�ef@?� FKGCIp� L� DOmRIOJ� OmR?@GEBmFFC?Wm'�2JELRJp� WJ� CL�m� F?\OJ� CLBmOLUEIp�}?�@LUEI� KFJQLEJDEmRIOJ�OeRG@GEmF�m�L@eCmMm�p�\�DOLTLFp�}?�CG�CLBmOLUEIp�L�MmReCmW�@?|eEI�CGDEJ�OeRG@GEL�oGT�T@mCJ'�2JELRJ�@GCGp�\Oe�?DFmEe@LUEI� NmKDELB�JCJ� m� DELB�JCJp� F� \OJH� LB@m\H� oeRJ� m� \O?�CLMm?CLRIC?DEJ'� `� DOLTLFp�}?� FDm� DELB�JCJ� T� BmTCJH� LB@mSpeOBL�CMm'

:LSomRI�G�FJNJEeFLRJ�@GCG�TL�OjBL�ABmCL�m�OjBL�XeBRLOe'6?RJ�\�DOLTLF��@p�}?�NB?�CJH�oLQLE?�CG�TCLUp�o?�F�D?ECm�oeFO?B?EO?p�E?�F?CJ�@GCG�N?WLRJ�NJELEJg�\O�FJQR\KLf�ABmCp�DOmRIOJRmE�@Lfp�DOmRIOJ�T?R?EJH�TeomF�F�eDELHp�T�\OJ@J�O?@LCKJBL@JCLSomRI�G�oeFLfp� \Oe�@Lf� H?Kep� \O� eoJBLfEID\� EL� \O� DEBmR\fpO?RJ�S?Q?�NBLFL�BeOL��e@?FL'�`� �@�FmKN?FmF�ELOp�\O�F?C?�fp�LNB?�BeOe�DOLTLFp�}?�FmC�CG�@Lf��e@?F?�'�<?CJ�FDm�KJFeFLRJD\�mOLTLRJp� }?� \� oBG�e'� 1NmDR\� NJELRJ� @GCGp� F� \O?@e� @mDMmOjB�ABmC�NGBGoeFLfp�O?R?�O?EB?��W?EJp�O?RJ�SKG�?o?B?CCJS�omSLo?�mKeEI�e�CLDEeN'�dJ�FmC�mKG�NGB�JS�e�RmCm�p�WJ�@LHLf�BeOL@Jp\OJS�@Lf�Q?R?Dp�WJ�RUoJEI�OBJWLEJ�F�o?U�m�E'�N'�`�DOLTLF��@p}?� N?FDELCMm� SKeEI� FDm� BLT?@� FNGBGK� Lo?� FmKDEeNLUEI� m�}?O?@LCKJB�RUoJEI�OBJWLEJ'�<�WLD�o?U�OBeEJEI�MJQLBOe� m�E?KmKe|G�TRJS'�PL�OjBL�XeBRLOe�\�CmW?Q?�CG�DOLTLFp�o?�\�S?Q?�CGTCLU'�2?Em@�@GCm�N?K\OeFLRJp�N?EJDCeRJ�BeOe�m�BLKJRJ�FFL|LEJCL�N?FDELCMmFp�o?�\��@�oeKe�N?EBmoCJS'�<�OeHCm�\�KmDELF��DEJ�mEL@p�O?RJ�\� �Fp� FJNJEeFLRJ�@GCGp�}?� �K\EI�N?FDELCMmp� F� W?@eFLB\EIp�DOmRIOJ��K\EI�EL�WJ�CG�Q?R?KeUEI'

2mDR\�MI?Q?�\�N?�HLF�K?�DGRL�6?DEGB?FGMI�K?�DF?f��EmEOJ1RGCJ��BO?FDO?�'� 0eE� @GCG� LBG�EeFLRL� ?H?ECmWL� BGTGBFL@mRmMm�� ?oJFLEGRIDOfS� m� FmKDELFJRL� CL� N?FmEmFOe� e|GCKeoGTNfWGCIDEFL�NeoRmWCGQ?�F�4\C?Mm'�=GCG�DN?WLEOe�EBJ@LRJO?R?�DeKep�L�N?Em@�MmRJS�EJ|KGCI�e�OBJ@mCLRm'�2?RIDIOL�eNBLFLFCeEBm�CI?��oGTNGOJ�K?NJEeFLRL�ELO�DL@?p�\O�e�6?@LCWmp�L�FK?KLE?O� }G� @GCG� NJELRJp� KG� f� OBJ�FOJp� @L�LTJCJp� \OJ@JDEG|OL@J�N?FDELCMm�H?K\EIp�F�\OJH�@mDM\H�OFLBEJBeUEI�m�\OmCLOLTJ�KLf�bBJCI'�2B?�CLOLTJp�OBJ�FOJ�m�@L�LTJCJ�\�DOLTLFp}?�CmW?Q?�CG�TCLUp�L�OjB�ABmC�H?KJEI�FDG�BmTCJ@J�DEG|OL@J'0?Km�F?CJ�N?WLRJ�OR\DEJp�CLTJFLEJ�OjBL�oGDEmfU�m�D'''�DJC?@'2JELRJp�WJ�f�\Om�DEBmRIMm�Lo?�O?@LCKJBJp�}?�S?Q?�CG�RUoR\EIpWJ�T�CJH�O?EBJS�CG�TLDEBmRJF�oJ�S?Q?'�`�FmKN?FmFp�}?�ELOJHCG@L'

�qq

<JNJEeFLRJ�@GCGp�HE?�FGKG�NB?NL�LCKep�\O�FJQR\KLfp�NB?}?�Q?F?BJEIp�CL�O?Q?�N?ORLKLf@?�CLKm�p�\O�CLTJFLfEID\�EGNGBCL��eB\K�m�E'�N'

`�DOLTLFp�}?�N?RmEFJH?FCJOJ�fg��\NOL� m�4?R?@OL'�PL�E?SWLD�\�CG�WeFp�NB?�}?�F?CJ�Q?F?B\EI'�>C�JS�DRmKWJS�NJELF�@GCGp}?�Q?F?B\EI�O?@LCKJBJ�m�FJH?FCJOJ�NB?�N?RIDIOG�FmSDIO?p�NB?eB\K� FCeEBm�CI?�� N?RIDIO?�� oGTNGOJ� EL� �H� eB\Kp� \O� e� CLDN?oeK?FLCL�DRe|oL�oGTNGOJ� m� E'�N'�:L�EG�FDG�\�DOLTLFp�}?�CGTCLU'�`OJSDI�DRmKWJSp�}?�Q?F?BJF�R?@LC?U�N?RIDIO?U�@?F?UpFJNJEeFLF�@GCG�}G�BLT�FDG�FmK�N?WLEOep�L�N?Em@�NJELFD\g�WJ�OjBABmC� NB?@?FR\f� K?� DEBmRIMmFp� WJ� DReHLUEI� S?Q?� O?@LCKJBJ� mDEBmRIMm'� `� DOLTLFp�}?� DReHLUEI� S?Q?� eDmp� L� \O� NB?@?FR\fp� E?CLFmEI� KGO?EBm� NRLWeEI'�2?Em@� \� N?KLF� CL� S?Q?�|LKLCC\� ?NJDeoBLCC\p��LNOep� ToB?Up� N?OLTLFp� \O� H?KJEI� m� E'� N'�_LRm� NJELF@GCGp�WJ�RUoJEI�FmC�|mC?WG�E?FLBJDEF?p� Q?BmROe� m�D?R?K?}mp�F\Oe�N?Be�R\QLf�FmC�DNLEJ'�2B?�NGB�G�\�DOLTLFp�}?�CG�TCLUp�LDNLEJ�SKG�O?RJ�EBLNJEID\'�:LDGRGCC\�S?Q?�RUoJEI�m�Em�JEID\p\O�FmC�NBJSKG�K?�DGRL'�2mDR\�E?Q?�FmC�NJELF�@GCGp�F�\Oe�N?BeNBJH?K\EI�N?FDELCMm�K?�DGRLp�F�O?Q?�oGBeEI�HeK?oep�KG�NGWeEIHRmop�HE?�ToJBLf�O?CEJC�GCEp�HE?�F�DGRm�DNmFNBLMUf�T�528p�\OCLoJBLUEI�C?FLOmFp�TFmKOJ�N?FDELCMm�TCLUEI�eDG�EGp�}?�B?oJEIN?RIDIOG� FmSDIO?p� eB\K� FCeEBm�CI?�� oGTNGOJ� m� @mRmMm\'� AE?K?C?DJEI� ABmC?Fmp� O?Q?� o+f� N?RIDIOG� FmSDIO?� Lo?� eNBLFLFCeEBm�CI?��oGTNGOJ'�`�DOLTLFp�}?�CmW?Q?�CG�TCLUp�E?@e�}?�\oeF�C?FLOp�@GCG�CmOeKJ�CG�N?DJRLRJ�m�@GCG�o?\RJD\'�_LRm�NJELF@GCGg�WJ�FmSDIO?�@Lf�FmKTCLOJp�\Om�@Lf@?��LNOJp�NRL}mp�}?��@?pWJ�@Lf@?�O?CDGBFJp�MJQLBOJ� m� TFmKOJ� �H�oGBG@?'�`�DOLTLFp�}?WLDEJCL�@Lf�N?RIDIOm��LNOJ�m�@eCKJBJp�L�WLDEJCL�Cm@GMIOm�Lo?eOBL�CDIOm� T� EBJTeoL@J'�2mDR\� MI?Q?� \� NmKNJDLF� NB?E?O?RJ� m@GCG� ORJOLRJ� CL� �N?QLKLCOJ�p� F� \OJH� CLOLTeFLRJ�@GCmp�}?� \N?FJCGC�T�CJ@J�DNmFNBLMUFLEJp�FGBCeEJD\�K?�D?ECmp�oeEJ�OLBCJ@pFKLFLEJ�NLEBm?ELp�L�N?Em@�NB?DJEJ�FmKNeDEOe�K?�DF?S?Q?�DGRL'�<WLD�FmKNeDEOJ�NmEJ�CL�416��DRe|oL�?H?B?CJ�O?RfS?FGS�� m�EL@FDG� B?TN?FmDEJ� S� FGBELEJD\� TC?Fe� K?� D?ECm'� 6?RJ� o� @GCGNmK?TBmFLRJ� F� D?ECmp� }?� \� DNmFNBLMUU� T� eB\K?@� N?RIDIO?�FCeEBm�CI?��oGTNGOJp�E?Km�\�@e�e�TLDEBmRJEJ�O?@LCKJBL�F�WLDo?U� Lo?� FC?Wm� F� WLD� @LB�e� RmD?@� m� FEGOEJ� K?� CJH'�=GCGTFmRICJRJp�\�oeF�F�DGRmp�H?EmF�FmKDF\EOeFLEJp�L�N?�DF\ELH�T+\FJEJD\K?�D?ECm'�0e�TL\Fep�\Oe�\�NmKNJDLF�NB?�DNmFNBLMUp�\�CG�FJO?CeFLF�'

�q.

2mTCm�Gp�NmK�WLD�CL�?Q?�DRmKDEFLp�MGS�ELOJ�KGTGBEJBjL�GCEN?KLF�mC�m�@LEGBm\RJg�F�DGRm�6eR\�C?@e�f�|mCOL�4'p�}?��TKJEIK?�PLQmB+\�m�K?�4\C?OL�EL�F?TJEI�K?CGDGCC\'

d?BCm�*�DRe|oL�?H?B?CJ�O?RmS?F?��*�WGBGT�KGCI�H?K\EIN?� DGRmp� L� CLSomRI�G� NGBGoeFLUEI� e�aJ@LCDIO?Q?p� 6eNBL� m_G@omMIO?Q?��BOLp�}?� Q?F?BJEI� CGD?EF?BGCCm� BGWm� CL� 528'_mFWLELp�}?�H?K\EI� FLBJEJ� �DEJp� ELO?|�K?C?D\EI'��GCI?� >FLCDOLTLF�NGBGK�RUKI@Jg��2BJSKG�K?�DGRL�T�RmDe�EL�}G�S�QB?TJEIp}?o�KLEJ�S?@e��DEJ�'�_?��W?BCJH��}G�K?C?D\EIg�6mCKR\BDIOJSbBJMIp�=JHLSRJ�JC�=JO?RLS� m�=LEFmSWeO�4RLFO?� T� 7GNGKmp}?� H?KJEI� Q?RJEJ� m� DEBJQEJ� �W?BCJH�� F��LFCm@� m� FmSDIO??H?B?CJ�N?QBLCJWW\� F�6?@LCWm'

`O� CL�JH� FJDGR\RJ� CL� 5OBL�Cep� E?� K?� CJH� Ke|G� N?QLC?DELFJRJD\�5BoLC��BO?p�6'�1RGODLp�F?CJ�FmKoJBLRJ�FmK�EJHp�}?OBJRJD\� F� RmDmp� O?CGS� m� TLoJBLRJ� T� D?o?U� CL� DHmK'�:L� E?@eNB?E?O?R�TLOmCWGC?�m�NmKNJDLC?'

<�E?@e�DGRm�oeRJ�ELO?|�m�N?B\KCm�RUKJp�}?�DJ@NLEJTeFLRJm� DNmFNBLMUFLRJ� T� CL@J'� 6?RJ� KG\Om� C?FLOJ� N?KGTGBEeFLRJpDGR\CJ�K?@LQLRJD\g��7?omEI�}?DI�T�EJ@J�KGTGBEJBL@Jp�o?�F?CJ}G� QmB�m� FmK� N?R\OmF'� 4NLRmEI� HLEJp� L� CLFmEI� EBGoL� TCJ}JEJB?KJCJ'� dGBGT� CJH� DI?Q?KCm� DNGMQBeNL� NB?NL�LCKJDEmFN?RIDIO?Q?�FmSDIOL�OBJWJEI�CL�To?BLH�N?�DGRLHp�}?�CL�G�DGR?CLSomRI��N?B\KCG�'

<?B?Q� WJQLF� T� eDmH� DE?BmC� CL� CL�?Q?� O?@LCKJBL'� <mC� CG@LF�eDNmHmF�E?@ep�}?�@J�Em�NR\CJ�DO?B?�FJOBJFLRJ�m�N?NGBGK|LRJO?@LCKJBL'� :L� TLOmCWGCC\� B?TOL|e� }G� ?KCe� N?KmUg� FXmBWLC}JCm�N?RIDIOG�FmSDIO?�TR?FJR?�?KCe�Oe}?Fe�NB?FmKCJMU|mC?W?��DmEOJ'�<?CL�oeRL�oGT�ToB?��m�CLTJFLRLD\p�TKLfEID\�@GCmp1~GRm\'�2BJFGTRJ�T�2GBG@J�R\�K?�4\C?OLp�L�F�4\C?Mm�TFmRICJRJT�EUB@J�T�TLFKLCC\@�eoJEJ�CL�?Q?�O?@LCKJBL'

dGDCL� KmFWJCL� CG� FJO?CLRL� ?omM\COJp� KLC?�� F?B?Q?FmpNBJS�RL�K?�DGRL�=?OB?Q?p�KLRm�K?�6eR\�C?Q?p�TO?CELOEeFLRLD\T�BG~'�4X�beMeR?@p�Nm�RL�K?�CI?Q?p�B?TN?FmRL�FDGp�\O�oeR?p�L}?�DELR?D\�T�CGUp�CG�TCLU'�PKLfEID\p����TFmRICJRJ'

#W��n� '�����'

<mK�V?BKLCDIOJH�DF\E�TC?Fe�N?WLR?DI�CL�G�OFLBEJBeFLCC\NmK� Q?RJ@� CGo?@p� CL� DCmQLH'� PKLfEID\p� }?�|?KCL� D?EC\� CG

�q�

NGBGoeFLRL� ELO� TJ@Jp� \O� CL�L'� <DG�|� ELOJ� FJCL� CG� CL�Lp� LFJCL�e@?F'�<Dm�DEBmRIMm�ELO�TLQLBEeFLRJD\p�}?�HF?BJH�e�CLD�CGoeR?'

P�OmCMG@�DmWC\�OFLBEJBeFLRJ�@J�F�RmDm�O?R?�DGRL�0eBJCDIO?jQ?'� <Dm@� CL@� DCJRJD\� Ke|G� N?QLCm� DCJ'�1KCJ@� FGRJOm� DE?DJ@+\DLp�KBeQJ@�*�KmFWLELp�EBGEm@�*�TLoLFJ�m�ELCMm'�<Dm�@J�oeRJCGDN?OmSCm'�<|G�@LRJ�SEJ�T�KGRG�LMmfU�K?�O?@LCKJBLp�\O�EeEOjB�ABmC� NBJS�?F� K?� @GCG� S� DOLTLFg� �_Be|G�1DEB?FGBHp� \ELOJS�DI?Q?KCm�CGDN?OmSCJSp�}?�NB?DE?�CG�B?Te@mU�DGoG'��?DIDELCGEID\�TRG'�0BGoL�FFL|LEJp�}?o�CG�oeR?�CLDO?Oe'�<|G�EBJC?Wm�NmKB\K�DC\EID\�@GCm�N?QLCm�DCJ�L

%������o� ���

<�ELo?Bm�@J�@LRJ�KFm�DFJCOJ�KR\��NJELRIOJ'�0LOJ�}G�E?Q?KC\p�.Z�DmWC\p�@J�Nm�RJ�FGRJWGTCJ@J�DCmQL@J�F�CLNB\@m�DGRL<?R\�=mH?FLp�L�CL��NJELRIOe�O?@LCKJB�NmDRLF�DFJCOJ�EL�FGRmFN?KJFJEJD\p�}?�EL@�O?R?�CJH�WeFLEJ'

2mK�FGWmB�DEBmRIMm�FGBCeRJD\�K?�DGRL�<?Rm�=mH?F?��m�NBJCGDRJDe@Ce� FmDEOe'�aNJELRIOL� TBeSC?FLCL'� P� CG�� RJ�G� OeBJEID\KJ@'�<����Be�CLH�TLQJCeR?�qn�N?FDELCMmFg�KjB�7LEp�S?Q?�KBe|JCL_?BLp� @L�mDEGB� 1BGDEp� BLS'� BG~'� DRe|oJ� TK?B?F+\� 8BNLKtDLCmELBOJg�2WmROLp� 6LRJCLt� BG~'�4X� beMeRp� DE'� FmDE'�=mBCJOpDE'�FmDE'�4@GELCLp�6?QeEp�6LFOLp�_Be|oLp�DEB'��eO�m�mC�m'�XJRJD\F?CJ�MmRe�K?oe'�1E�E?@e�E?�F�CLD�DEBL�Cm�DCJ'��\�FmDEOL�Ke|GFBLTJRL� FDmH'� 6?@LCKJB� DOLTLFp� }?� @eDJ@?� N?@DEJEJD\'2BJS�?F�K?�CLD�Oe}'�4mBO?�m�DOLTLFp�}?�CL��NJELRIOe�FJFmFN?R\OmF�TR?FRGCJS�DEB'��eBLFGRI�T�S?Q?�Oe}LL

R���n�����W

_?� DGRL� @J� CG� @?QRJ� SEJp� o?� EeE� OFLBEJBeFLF� ?KJCoLELRIS?C�N?RIDIO?Q?�FmSDIOL'�=J�FDm�@LRJ�?H?Ee�B?TQB?@JEJ�H� F� DGRmp� LRG� O?@LCKJB� FLQLFD\'� 2?jNGB�G� E?@ep� }?� oeR?TLo?B?CGC?p�L�N?jKBeQG�*�KG�N?KmEJ�BLCGCJH'�=GCm�KLF�O?@LCKJBCLOLT� FT\EJ� RLCOe� m� NmEJ� FC?Wm� CL� B?TFmKOe� K?� DGRL'� =JNmKDEeNJRJ� WJDEJ@� N?RG@p� FGRJWGTCJ@J� DCmQL@Jp� F� DJRICJS@?B?T�m�FmEGB'

�qZ

<�DGRm�\�K?FmKLFD\p�}?�F?B?Q�EeE�?O?NLCJS�m�N?OJ�}?�CGKe@Lf� FmKH?KJEJ'�2?R\OJ� Ke@LRJp�}?� \� N?R\O'��mf�� C?Wm� oeFELOJS�DJRICJS�@?B?T�m�ELOG�KJFCG�N?FmEB\p�}?�CL�m�F?QCm�CGH?EmRJ� Q?BmEJ'�`� e� B?TFmKMmp� L� oLQLE?� DEBmRIMmF� NBJ� F?QCJ}LHFmK@?B?TJRJ�D?om�N+\EJp�BeOJ�EL�NLRIMm�CL�C?QLH'

:L�KBeQJS�KGCI�TC?Fe�SKG�F�B?TFmKOe�DEB'�XReK�m�DEB'�_eCLS'<?CJp� N?FGBCeF�JDIp� TQ?R?DJRJp�}?� F?B?Q� CLKLRm� F� DGRm'��G@GCG�N?WJCLR?�TR?DEJEJ'�2?jDHmKC\MIOJ�NB?ORJCLf�OjB�bBLCIpCLBmOLUEI� DEBmRIMm'� d?@e� F?CJ� @LUEI� @?B?TJEJD\� F� RmDmp� LN?R\OJ�DJK\EI�F�EGNRJH�HLELH'�<JWeF�MGS�CLDEBmS�O?@LCKJB�mCL� FGWmB� NBJQ?EeFLF� CLDO?O'�=J� NmKDeCeRJD\� K?� DGRLp�}?oFKLBJEJ� T� EBI?H� DE?BmCp� EL� FJ\FJR?D\p� }?� N?R\OJ� }?SC?FJS�RJ'�<�DGRm�@J�OFLBEJBeFLRJ�EBJ�KCm'

q���X���� ������

6FLBEJBeUWJ�F�DGRmp�\�TLNBJ@mEJFp�\O�@m|�HLEL@J�oRJDCeRLBLOGEL'�`�DO?WJF�EeKJ�m�TR?FJF�HR?NM\p�}?�@LF�BLOGECJMU'�2?K?NJELH� FJS�RL� DNBLFL� CLFGBH'� 2?R\OJ� RJ�JRJ� ?KC?@eQ?DN?KLBGFmjDGOD?E?Fm�BLOGECJMU�m�BLOGEJp�}?o�FmC�FJDEBmRJFE?Kmp� O?RJ� oeKG� OFLBEJBeFLEJ� F� DGRm� CL�L� D?EC\p� L� N?RIDIOmT?BMm�CLK�0mDC?U�m�XLRJQ?B?K?@����N?oLWLEI'�8�O?@LCKJB�CUHLFEeE� TL� BLKm?@'� V?Q?� @LF� ?KJC� N?R\Op� TL� \OJ@� @J� EGNGBNJRICeFLRJ'�:L�EBGEmS�KGCI�eFGW?Bm�O?@LCKJB�KLF�CLOLTp�}?oD?ECm� oeRJ� Q?E?Fm� K?� FmK@LB�e� ?� �jmS� Q?KJCm� BLCOe'� 5DmO?@LCKJBJ�NB?DJRJ�S?Q?p�}?o�TLRJ�JEJD\�}G�CL�?KJC�KGCIp?KCLO� O?@LCKJB� CG� TQ?KJFD\'� `� EG|� CG� @LF� ?H?EJ� EeETLRJ�LEJD\p�H?W�@GCm�oeR?�K?DJEI�NBJf@C?'

���W�������m��iX

5� NBJTCLWGCJS� WLD� @J� FmKmS�RJ'� 2m�RJ� /eOmFDIOJ@JK?RJCL@J�F�CLNB\@m�XGDOJKe'�=J�S�RJ�MmRJS�KGCI'�XeF�DJRICJS@?B?Tp�OeBJR?�DCmQ?@�ELOp�}?�CG�@?|CL�oeR?�KJHLEJ'�0BJKM\EIOmR?@GEBmF� @J� oBGRJ� FGRJWGTCJ@J� DCmQL@J'� XLQLE?� DEBmRIMmFFmK@?B?TJR?�D?om�NLRIMm�CL�BeOLHp�FeHLp�C?DJ�m�RJM\'�̀ �CLBLHeFLFKFLKM\EI� EBI?H� ?o@?B?|GCJH'�:LK� FGWmB� BG�EOL@J� DJR� �F|GoLQLE?� DEBmRIMmF� EBGoL� oeR?� FGDEJ� m� CGDEJ�� @J� KmS�RJ� K?b?Bm�CI?Q?� <JDR?OL'

�q[

<J\FJR?D\p�}?�m�\p�m�CL���DELBJS��@LRJ�K?oBJS�CUH'�0mRIOJ@J�FJS�RJ�T�<?Rm�=mH?F?�p�\O�?KCL�KJFmTm\�N?RIDIO?Q?�FmSDIOLp<12jep�6X2p�5X2�m�416�?E?WJRJ�<?RU�=mH?Fe�m�NBJRGQRm�RmDJ'

8|�NmCJRJDI�Tm�TR?DEJ�N?RIDIOm�O?@LCKJBJ'�9@�CLFmEI�FL|O?oeR?�TR?FJEJ�CL��DRmKp�L�O?RJ�TCLS�RJ�S?Q?p�?KCL�QBeNL�Nm�RLTL�CL@J�CLFTK?QmC'�_LRGO?�CG�TLS�RJ'�:L�N?R?FJCm� K?B?QJ�FXGDOJKm�CLRmTRJ�CL�CL�m�@mCJ�m�N?FGBCeRJD\'�6?R?�.���N?R\OmFKe|G� N?FmK@?B?|eFLR?D\p� L� T� CJH� Z�� F��NJELRm� F� 4\C?Mm� m7\�GFm�N?FmKEJCLRJ�NLRIMm�CL�BeOLH�Lo?�C?QLHp�L�KG\OJ@�CLFmEIBeOJ�S�C?QJ'

Y�W�n�X�

P�b?Bm�CI?Q?�<JDR?OL�@J�Nm�RJ�F�_?Rm�CmS�<JDRmOp�?NmDR\K?�DGRL�7JoJ�?FL'�0eE�OFLBEJBeFLRJ�EBJ�KCm'��G�DGR?�F|G�EBJBLTJ�DNLRJRJ�N?R\OJ'�/G@OJ�@G�OLRJ�F�TG@R\COLH�Lo?�F�oeKLH�TK?}?O�m�WLEJCC\'�_?�CLD�DELFJRJD\�Ke|G�QLBC?'�0eE�@J�WJELRJoLQLE?� RJDEmFp�}?�NBJS�RJ� T�8@GBJOJ'�<� RJDELH� L@GBJOLCDIOmeOBL�CMm�K?@LQLUEID\p�}?o��@�E?WC?�?NJDeFLRJ�FDGp�}?�EeE�KmfEID\'6?@LCKJB�NJ�G�RJDEJp� L� DGR\CJ�FJDJRLUEI'�_mDELRJ�@J� ELO?|EeE�eOBL�CDIOm�QLTGEJ�T�8@GBJOJp�F�\OJH�f�?NJD�o?�F�CL�?��D?ECm'<mSDIO?p�N?RLELF�J�FTeEE\p�?K\Qp�NGBGNBLR?D\�m�FmKN?WJR?'�7e�JRJKLRm�F�K?B?Qe�K?�DGRL�6L@+\C?Q?'��G�DELBL�FJNLK?FL�oLTL�CL�?�D?ECm�T�E?Q?�WLDep�O?RJ�@GCG�}G�EeE�CG�oeR?'�<|G�K?FQ?�CG�oeR?CL�?��D?ECm�F�MI?@e�DGRm'�:L�FmDEOep�}?�NBJS�RL�D?EC\p�TomQR?D\FDG�DGR?'�5Dm�F?CJ�EeE�ELO?|�omKeFLRJ'�=G�OLRJ�F�TG@R\COLH�mNJFCJM\Hp�o?�N?R\OJ�TLo?B?CJRJ�oeKeFLEJ�HLEJ'

:L� KBeQJS� KGCIp� MG� oeR?� O?R?� w� RUE?Q?� qkZnp� O?@LCKJBN?KmRJF� ?oJKFm� D?ECm� CL� KFm� QBeNJ'� 2GB�L� QBeNL�*� W?ELOjBL�_eCm�m�OjBL�PGCOLp�NmK�O?@LCKeFLCC\@�CL�?Q?�O?@LCKJBLpo?�OjB?Fm�4ELH?Fm�FmKC?FJRJD\�BLCJ'

_BeQL� QBeNL�*�W?EL� OjBL� bBLC\� m� W?EL� OjBL�XLSBLOL� NmKO?@LCKeFLCC\@� OjBL� bBLC\'

2GB�L�@LRL�?NGBeFLEJ�CL�NBLF?@e�oGBGTm�BmOJ�1DRLFJp�LKBeQL�*�CL�RmF?@e'�bBeNJ�N?FJCCm�?o+fKCLEJD\�CL�OmCGMI�RUE?Q?'

YWs���o�s�n�X�

6?RJ� CL�L� QBeNL� FmKReWJRLD\p� @J� Nm�RJ� K?� XeOmFDIOL'0eE� CL� CLD� N?WLRJ� DEBmR\EJ� MJFmRICmp� LRG� @J� �H� B?TmQCLRJpTK?oeRJ�OmRIOL�OBmDmF�m��JCGRI�EL�OmRIOL��EeO�HeK?oJ'

�qY

qn�RUE?Q?�@J�OFLBEJBeFLRJ�F�DGRm�<?R\�2GEB?FL'�:L�CLDCLDO?WJRL� QBeNL� N?RIDIO?Q?� FmSDIOL'�=J� TFGRJ� omS� NB?E\Q?@NmFQ?KJCJ�m�FmKDEeNJRJ'�<?B?Q�@LF�OmRIOL�eoJEJH�m�BLCGCJH'�5CLD� TLQJCeF� DEB'� /?TL� m� N?NLF� F?B?Q?Fm� F� BeOJ� BLCGCJSDEB'�=LRJCLp� \O?Q?� N?R\OJ� Ke|G� @eWJRJ'� XeRJ� BLCGCm�}GgB?S'�DE'�FmDE'�1BGRp�DEB'�<?R?D�m�}G�?KJC�DEBmRGMI'�:LTLQLR�CL@N?F?KJR?D\�K?oBG'

YWs����o�s�n�X�

2GB�L� QBeNL�NmK�O?@LCKeFLCC\@�OjBL�ABmCL�@LRL� ELO?|OmRIOL�DeEJW?O�m�o?�F�T�N?R\OL@J'�XJRJD\�F�:?F?DmROLHp�7?DE?OLHpL� Y� oGBGTC\� F� 6L@+\COLH� @LRJ� omS� T� KF?@L� oLELRIS?CL@JN?RIDIO?Q?�FmSDIOL'�0L@�eoJRJ�OmRIO?H�N?R\OmF'�6?RJ�N?WLRJD\FGRJOm� ?oRLFJp� �H� QBeNL� NGBGOJCeRLD\� F� /eNOmFDIOm� RmDJp� KGqw�oGBGTC\�TFGRL�FGRJOJS�MmR?KGCCJS�omS'�XeRL�?E?WGCL�KJFmTmfUN?RIDIO?Q?�FmSDIOL�EL�o?RI�GFJMIOJ@J�DNGMQBeNL@J'�0BJ�BLTJNB?BJFLRJD\� T� ?E?WGCC\'��?SC?� eFGW?Bm� NmKDEeN?@�OjB�ABmCFB\EeFLF�QBeNe�FmK�DEBL�C?Q?�B?TQB?@e'�:L�NJELCC\g��AE?�f��*�O?@LCKJB�FmKN?FmF�N?jN?RIDIOJg��4FmSp�DFmSp�TL|KLEJ�EL@�CLQ?Bm'�2?FDELCMmF�F|G�CG@L�'

<?B?Q�@LF�O?R?����eoJEJH�m�oLQLE?�BLCGCJH'5�CLD�oeR?���eoJEJH�m�qq�BLCGCJH':L�m�MJFmRICm�m�DEBmRIMm�?N?FmKLRJp�}?�omS�oeF�ELOJSp�}?

CLFO?R?� EmRIOJ��e@mR?'� <� @mDELHg� /mDIOep� PLQmB+�� S� 4\C?MmEBeoJRJ�~LoBJWCm�DJBGCJp� m�HE?�T�N?R\OmF�@mQ�C?DJEJ�ToB?UpFDm�RGEmRJ�CL�K?N?@?Qe'

<� o?U� FmKTCLWJRJD\� OjB� ABmCp� }?� F� KF?o?U� TLoJFN?RIDIO?Q?�DELB�JCep�OjB�4ELHp�B?S'�FmDE'�PL\MIp�B?S'�DE'�FmDE'<JBFLp� FmDE'� 7JoLROLp� OeR'� 4?FLp� DEB'� 2GEBJOp� FmDE'� bBeCIpW?E'�PGCO?p�FmDE'�/eQ?FJS�m�FmDE'��eO'�:LSomRI�J@�QGB?f@�E?Q?o?U�oeF�DR'�N'�OeR'�4?DCL'�<mCp�BLCGCJSp�F|G�CG�H?EmF�FmKDEeNLEJpTLRJ�JFD\�CL�@mDMm�m�DF?�@�F?QCG@�NBJOBJFLF�FmKDEeNp�L�TLBLT?@m�NB?BJF�MmR?��QBeNJ'�_?FQ?�@eWJRJD\�N?R\OJp�TLOJ�NGBG@?QRJTLFT\E?Q?�OeRG@GEWJOLp�}?�F�HFJRJCe��HCI?Q?�NmKH?Ke�B?TmBFLFDGoG��BLCLE?U'

2mDR\� o?Up� O?RJ� W?EJ� NB?BJFLRJDI� WGBGT� DGR?� /eO?FGp|mCOJ� S� KmEJ� FJomQLRJ� CLTeDEBmWp� oRLQ?DR?FR\RJ� �Hp� KLFLRJ@?R?O?�BLCGCJ@p�OJKLRJ�HRmo�m�E'�N'

�qn

RW���

_?�CLD�KmS�RJ�FmDEOJp�}?�q.�RUE?Q?�����N?R\OmF�CLDO?WJR?CL� ELomB� OjBL�X?BL� F�PLEFLBCJMIOJH� RmDLHp� LRG� FmC� FmKDEeNJFoGT�o?U'

q�� oGBGTC\� F� DGRm��GBCJMm� TLQJCeF�=GKFmKIp� }?� oeFDNGMOeB+fB?@�EL�H?KJF�BLT?@�T�2m@DE?Up�_eH?@�m�de@LO?@'

0?Q?�|�KC\�N?RIDIOG�FmSDIO?�CLDO?WJR?�CL�NBJDmR?O�DGRL`FmBCJOL�*��LSEJDOLp� KG� TLQJCeF� Oe}'� Q?DN'� 6BJ@DIOJS� ELKFL�DEBmRIMm'�0mRL��H�TLoBLRJ�N?R\OJ�K?�DGRL�6?@LCWmp�N?R?|JRJomR\� DELCMm�p� NRUFLRJ� S� OJKLRJ� OL@mCC\@'� 4GR\CJp� }?NB?H?KJRJ� N?omWp� CG� TFL|LUWJ� CL� LBG�EJ� m� N?o?�p� OR\RJ� m@?RJRJD\p�L�DELBGCIOJS�DF\}GCJO�FmKNBLFJF�NLCLHJKe�m�4Re|oeX?|e'�PL�MG�S?Q?�NmTCm�G�LBG�EeFLRJ'

qY�oGBGTC\�N?RIDIOG�FmSDIO?�CLDO?WJR?�F�DGRm�=?B?H?Fm�CLHLEep� KG� OFLBEJBeFLRJ� N?FDELCMm'� PLQJCeF� BLS'� Q?DN'� dLSOLpDEB'� 7?@O?p� L� BLCGCJS� F� ?oJKFm� C?QJ� F'?'� BLS'� NB?F'� XmTeCFB\EeFLFD\'

.� oGBGTC\� oLCKL� DNGMQBeNJ� T� 0mDC?�� LBG�EeFLRL� F� DGRm=LC?Fm�Ke|G�mKGSCe�CL�e�DJ@NLEJWOe��GDI?Q?�8CCe'

���o������'��� ��

<|G� CL� N?WLEOe� EBLFC\� OjB� bBLCI� NmKmS�?F� K?� DGRL1DRLFJMmp�L�O?RJ�N?oLWJFp�}?�N?WJCLUEI�B?TELFLEJ�DCmQJp�RI?KJF�BmMm�DOBGDRJ�m�EBGoL�oeKG�N?�NLHJ�NGBGH?KJEJ�BmOep�N?FGBCeFD\'�GS�S?Q?�OB?O�NGBGOBGDRJF�NR\CJ�O?@LCKJBLp�NB?�\Om�@J�CGTCLRJ'� PCLU� EmRIOJp�}?� OjB� bBLCI� @LF� \OmDI� ELf@Cm� CLOLTJNBJfKCLEJD\�e�FJTCLWGCJS�WLD'

6?RJ�F?KL�CL�BmMm�1DRLFm�?NLRL�m�DCmQJ�F�omRI�?DEm�DE?NJRJD\F|Gp� BLCO?@p� O?RJ� @J� OFLBEJBeFLRJ� CL�ABG}LEmSp� NBJS�RJOeB+fBJ� FmK� O?@LCKJBL� T� CLOLT?@� CGQLSC?� NBJfKCLEJD\� K?OjBL� O?R?� DGRL� 4eO?FLE?Q?'� 6jB� bBLCI� CLOLTLF� CL@� QLBC?FJWJDEJEJD\p�eN?B\KOeFLEJ�FJB\Kp�o?�SKG@?�K?�O?@LCKJBL'�<DGDEBmRGMEF?�FEm�JR?D\p�LRG�OjB�bBLCI�oeF�W?Q?DI�D@eECJS'

:L� ?KCmS� N?R\CMmp� NmK� D@GBGO?FJ@� RmD?@p� CL�L� QBeNLFJ�JOeFLRLD\�F�KF?RLFLH�m�|KLRL�O?@LCKJBL'�:GFK?FTm�NBJS�?FO?@LCKJBp� NBJFmELF� CLD� Ke|G� QLBC?p� L� N?Em@� TL\FJFp�}?� WLDFmKNRLEJEJD\�F?B?Q?Fm�TL�TCJ}GCC\��NJELRIOJp�KG�TLQJCeR?�qn

�qw

CL�JH� KBeTmFp� @m|� CJ@J� EB?f� RmOLBmFp� EBJ� KmFWJCJjN?FDELCMmEL�mC�m�BLCGCm�NmKDELB�JCJ�m�DEBmRIMm'

PLFEBL� EBGoL� oeEJ� Q?E?FJ@J� K?� o?U'� 4EBmRIMm� FTLf@C?NGBGN?FmKLRJ�D?om�DF?��NBJQ?KJp�NGBGKLFLRJ�NBJFmEJ�FmK�BmTCJHTCLS?@JH�EL�Q?F?BJRJ�NB?�NBJHmK�FGDCJ'

U��W�� ���Wr����p

=mS�W?E?FJS�bBLCI�RUoJF�@GCG'�dLDE?�Q?F?BJF�Tm�@C?U�mTFmB\FD\�e�FDmH�DNBLFLH'�0LO�m�DI?Q?KCmp�O?RJ�KmDELF��NeMmFOe�FmK� O?@LCKJBLp� W?@e�CG� NBJS�?F�CL� ?TCLWGCJS� WLDp� DmF� omR\@GCG�m�DOLTLFg��:L�OeBJp�HBLfB�'��<mC�CmO?RJ�CL�@mQ�FJ@?FJEJDR?FL�~BLfB�'�PLOeBJF�Jp�DOLTLF�@GCmp�}?�O?@LCKJB�@LF�NR\CTB?oJEJ� OmRIOL� ?NGBLMmSg� TCJ}JEJ� q����JomF� CL� O?NLRICm� FDGRm�=?OB?@ep�B?ToJEJ�DELCMmU�416je�F�dL�JCm�EL��LBCmT?Ce�@RJCm�F�DGRm�<GRJO?N?Rm'�:LQ?KL�oeRLp�o?�O?RJ�NBJoeRL�F?KL�F1DRLFmp�F?CL�FmKBmTLRL�?H?B?Ce�N?RIDIO?Q?�FmSDIOL�FmK�O?NLRICmF�=?OB?@e� m� �LBCmT?C�F�dL�JCm�FmK�4\C?OL� m�PLQmB+\�ELOp�}?CmHE?� CG� NBJS�?F� oJ� CL� K?N?@?Qe'�=J�@LRJ� TmBFLEJ� @?DEJomR\�1DRLFJMmp�E?@e�T�CL@J�S�?F�@mCGBCJO�6BJRLEJS'

XGT� CLD� O?@LCKJB� CG� H?EmF� N?WJCLEJ� ?NGBLMm�p� WGOLUWJMmRJS� WLD�CL�CL��NBJHmK'�6jB� bBLCIp� H?W� WLD?@� RUoJF�}?DIF?BOCeEJp�F�MI?@e�FJNLKOe�N?WeFLF�DGoG�FJCCJ@'

���W�������n���������v�i�����n�

bBeNL�OjBL�bBLC\�EBJ@LRLD\�OBL}Gp�CLE?@mDEI�NGB�L�QBeNLoeRL�DJRIC?�FJDCL|GCL�o?\@J� m�N?Q?CGU'��mRe�CmW�O?@LCKJBCG�DNLFp�EmRIOJ�OeBJF�MJQLBOJ�?KCe�TL�?KC?Up�H?K\WJ�N?�N?R\Cm'<JKC?p� }?� ?KGB|LF� FmK� B?TFmKLWmF� \OmDI� FmDEOJp� \Om� S?Q?CGBFeFLRJ'

7LCO?@p�EmRIOJ�N?WLR?�DmBmEJp�O?@LCKJB�CLOLTLF�TLRJ�JEJEeE�eDmH��GFMmFp�OBLFMmFp�HF?BJHp�L�@m|�CJ@Jp�CL�NBGFGRJOJS|LRIp�TLRJ�JFD\�\�m�W?E'�_eC\'

_?FQJ@� DEBmRGMIOJ@�B\KO?@p� FE?@RGCmp� o?� DCmKLRJ� EmRIOJFW?BL�BLC?p�m�E?�N?�OmRIOL�oeRIop�Be�JRJ�F?\OJ�CL�TLDmKOe'�:LQ?DEJCMm� XLRJQ?B?K�*�0mDCL� WLD� FmK� WLDe� WeEJ� N?DEBmRJp� QeO@?E?BmFp�L�CLFO?R?�CLD�FmKoeFLfEID\�?oRLFL'�=GCG�MG�KJFeFLR?'d?@e�DL@G��4ELB?@e��TLH?EmR?D\�SEJ�EGNGB�CL�TLDmKOe'

�qk

dGOLf@?�CGEGBNR\WGp�WJ�N?�K?B?Tm�CL�m�CG�oeKeEI�?oDEBmR\CmF?B?Q?@'�4ReHLf@?p�WJ�CG�DJNRGEID\�oLBLoLCCJS�F?Q?CI�EL�CGN?WCGEID\� TLDmKOL'� PKLfEID\p�}?� DO?Bm�G� N?Wef@?� N?DEBmRJF?B?|?��?oRLFJp�}?�ToRJ|LfEID\�K?�CLD'

7LNE?@�WGBQL�T��KGHE\BL�p�L�N?Em@�oLBLoLCCJS�F?Q?CIp�QeKGpKeKCJEIp�L|�ReCL�SKG�RmD?@'�X?Qe�K\OeFLEJ'�<|G�CL�m�N?WLRJO?R?@JSOe'�_JFRUDI�CL�Q?KJCCJOg�@JCLf�N+\EIp�KGD\EI�HFJRJC'deEJ�KF?DE?B?CCmS�omS'�bGSp�KBeT\OJ'�bBm@�oJ�E?�\DCJS�N?oJFpL�DOLB�C\�X?|Gp�}?�EL@�omS'�PoJBLS@?D\�m�H?Km@�CL�K?N?@?QeCL�J@'�PmBFLRJD\�FDm�HR?NMm'�<|G�m�\�FJKe|LF�E?Km'�:m�?KC?Q?HF?B?Q?� CG� oeR?g� E?S� �OeRIQJOLfp� E?S� NmKDOLOefp� EBGEmSFLCEL|JEI�L@eCmMmU�CL�NRGWmp�FDm�Q?E?Fm�SEJ�CL�K?N?@?Qe�DF?�@KBeT\@'�`�DReHLU�KLRm'�8�EeE�omS�FEJHLfp�T�KBeQ?Q?�o?Oe�WeEJEmRIOJ� N??KJC?Om� N?DEBmRJp� @?f� F?\MIOG� FeH?� KJOEef� @?f@eB?Te@?Fmp�}?�CL�m�F|G�FJOmCWeUEI�F?B?QL'

:mO?RJ�@GCm�ELOJ@J�K?FQJ@J�CG�oeRJ�Q?KJCJp�\O�E?Kmp�O?RJ\�WGOLF�N?F?B?Ee�CL�JH'�dGBGT�OmRIOL� Q?KJC�F?CJ�NBJS�RJ'_G�NBJS�RJp�RGKFG�NBJRmTRJ'�6?|GC�NmKNJBLfEID\�NLRJMGU�ELS� E\QCG� BG�EOL@J� DJR� FE?@RGCm� C?QJ'� 6?@LCKJB� NBJS�?FpDNJELF� CLDp� WJ� EeE� DN?OmSC?p� CLOLTLF� KLEJ� D?om� DF?U� E?BoepFJE\QCeF� T� CG�� N?RmEJWCJS� OLRGCKLBp� N?OLBEOeFLFp� L� N?Em@pN?oLWJF�J�RJD?Q?� QGCGBLRLp� DOLTLF�@GCmg� �:Lp�@Lf�p� KJFJDIp1RGOD?'�1MI?Q?� KmKL�@J�DI?Q?KCm�NLBCeRJ�'�:L� DFmERJCm� oeR?NmKNJDLC?g� QGCGBLR�4FfBWGFDIOJS'�_GHE?�N?WLF�TLNGBGWeFLEJp}?�MG�CG@?|RJF?p�}?�MG�CGNBLFKLp� LRG�CLOLT�O?@LCKJBL� K?FmK@LB�e� NGBGoJF� eDGp� m� @J� Be�JRJ� KLRm� RmDL@J� K?� DGRL0eBJCDIO?Q?'

U�oW� � ���xW

<� RmDm� @m|� DGRL@J� 0eBJCDIOJ@� m� 2BGReOL@J� O?@LCKJB?KGB|LF�K?CGDGCC\p�}?�K?�0eBJCDIO?Q?�NBJ�HLF�N?RO�FmSDIOL'6BeQ?@�WeEJ�\OmDI�EBJF?|Cm�N?DEBmRJ�m�KJFCe�EBJF?Qe'�2?�@mDELHWeEJ� QeO�~LoBJWCJH� DJBGC'� 6?@LCKJB� CLOLTLF� @GCm� EL�}GKGOmRIO?@�F?\OL@�B?TR?|JEJ�OmRIOL�F?QCJ}�m�CL�CJH�N?FORLKLEJ@mCJ'� _GHE?� KJFeFLFD\p� W?@e� O?@LCKJB� KLF� DL@G� ELOGB?TN?B\K|GCC\p�LRG�\�FmK�O?@LCKJBL�K?FmKLFD\p�}?�@J�MG�B?oJ@?CLF@JDCGp�}?o�DNB?F?OeFLEJ�F?B?QL�EL�TL?H?EJEJ�S?Q?�B?oJEJEeE�TLFEBL�?oRLFe'�<mSDIO?�FmKmS�R?�FmK�F?QCJ}p�L�@J�FmKOBJRJ

�.�

OLC?CLKep�MmRO?FJE?�ELOp�CLWG�oJRJ�QLB@LEJ'0mRIOJ�?D@GBOR?p@J�NmKDeCeRJD\�K?�BmOJ�1DRLFJp�NB?EJ�MGBOFJ�F�DGRm�2BGReOLHpm� EeE� O?@LCKJB� CLOLTLF� e� N?FC?@e� FJB\Km� @LB�eFLEJ� WGBGTBmOep�e�F?Km�N?��JUp�o?�F?B?Q�NmKE\QCeF�DJRJ�CLFO?R?�ABG}LE?�pE?@e�B?TK\QLEJD\�CG@Lf�WLDe'�<Dm�\O�?KJC�BJCeRJ�F�F?Kep�@JTB?oJRJ�K?FQJS�@LB�p�}?o�HE?�CG�NGBGDEeKJFD\p� L|�K?�DGRL_?F|JMm'�1KCLO� CL�m��ELCJp� NLRLEOJp� N?RJ� N?TL@GBTLRJ'� <DGRm�@J�TLoRI?OeFLRJ�OmRIOL�NGFCJH�HLEp�TLQBmRJD\p�K?oBG�N?�RJpL�}?�CLSFL|RJFm�G�*�TLOeBJRJ�KeQLCe'�0eE�DGR\CJ�B?TN?FmRJp}?� N?FDELCMm� TLoJRJ� QGC'� 4FfBWGFDIO?Q?'� <mSDIO?� BLKmR?� mDOLOLR?� T� BLK?DEm'� `� DOLTLF� DEBmRIM\@p� }?o� WLD?@� CGB?TO?CDNmBeFLRJp� HE?� MG� TB?oJFp� o?� E?Km� F?B?Q� CG� KLDEI� CL@DN?O?U'�:LDGRGCC\p� X?|G�@JRJSp� L|� NRLOLR?� T� BLK?DEmp� HE?}?�@Lfp� FDG� KLUEI'�4ELBm� oLoeDm� CL� NGWLHp� KmKeDm� TL� DE?RL@JoRLQ?DR?FR\UEI�CLD�m�OL|eEIg��0GNGB�e|�oeKG�5OBL�CLp�e|�Q?X?Q� DOLBLF� CL�?@� BeO?@�'� >CEGBGDef� RUKGS� NGBGK?FDm@p� WJTQJCeR?�oLQLE?�HR?NMmF'�5Dm�D?om�e\FR\UEIp�}?�EL@�m�?F�TLFT\EJSomSg��defEGp�LoJ@�ELOLp�O?RJ�\�HLBJRL�O?R?�HJ|mp�E?@�WeRLp�\OOLC?CJ�oLFHLRJ'�0L�E?�FmKLS�FJ�Dm�T�CJ@J�oJRJ�'�<?\OJp�TLQBmEmNLROJ@J�B?T@?FL@J�DGR\Cp�Be�JRJ�FK?F?RGCm�m�}LDRJFm�F�KLRI�eK?B?Qe'

R���n���r ��p

:L� ABG}LEmS� WeEJ� DEBmR\CJCe'� XmKCL� CL�L� DE?RJM\FmKN?FmKLf� TL� CL�e� B?o?Ee'� _?oBGp�}?�}GT� DCmQ� NmK� C?QL@JpF?B?Q� CG� NmKG� DRmKL@J'� _BeQ� <eSO?� T�6?@LCWm� T� Emf�� BLK?DEJ?omM\F�KLEJ�CL@�NmF@GEBL�@+\DL'�dLDEJCe�F|G�NBJCGDRJ�DEBmRIMmpF?C?�D@GBKmR?p�RLTJRJ�N?�CI?@e�HB?oLOJp�LRG�WJ�HE?�TFGBELfCL�MG�eFLQep�O?RJ�Q?R?KGC'�:L�L�D?EC\�oeRL�ELOLp�}?�CG�RUoJRLCm� FJQ?Kp� Cm� NBJD@LOp� o?� CL� MG� EBGoL� oeR?� DEBLEJEJ� WLDp� mFJCJOLR?� NJELCC\g� Lo?� FJQ?KJp� K?oBG� NB?HLBWeFLCC\p� CG@LFmSCJp�Lo?�CGQ?KJp�Q?R?Kp�BGSKJ�S�N?Q?C\p�m�CL�O?|C?@e�OB?MmFmSCL'�:L��O?@LCKJB�FJoBLF�MG�KBeQGp�m�@J�S?Q?�FDm�N?RUoJRJEL�K?�E?Q?�NBJTFJWL�RJD\'�4?ECm�B?TELo?BJRJD\�CL�DE?�@GEBmFFmK� O?BK?Ce'�6mRIOL� DEBmRIMmF� Nm�R?� N?� BG�Ee�@+\DL'� 7LNE?@NBJRmELf�?KJC�DEBmRGMI�FmK�T?BM\�2?R?FM\g�F�CL�?@e�CLNB\@mCLDEeNLf� F?B?Q'�=J� NGBGS�RJ� CL� DR?FLMIOJS� omOp� TLSC\RJDELC?FJ}L�m�WGOLf@?'�_mS�R?�K?�DeEJWOJ�N?RIDIO?Q?�FmSDIOL�T

�.q

CL�J@J�DEBmRIM\@Jp�}?�FGBELRJD\�T�@+\D?@'�=J�CG�@?QRJ� �HN?FmK?@JEJp�o?�F?B?Q�FmKE\F��H�FmK�CLDp�L�DEBmRIMm�NmKmS�RJ�Ke|GoRJTIO?�K?�F?B?QLp�Ke@LUWJp�}?�MG�D?EC\'�<�DeEJWMm�TLQJCeFDEB'� /G@m�� �T�6eR\�C?Q?�p� N?NLF� K?� BeO� F?B?QL� DEB'� `DCJSp\OJS� DOLTLF� F?B?Q?Fmp� HE?� B?oJF� TLDmKOe� CL�4FfBWGFDIO?Q?'2B?NLF� oGTFmDEJ� DEB'�=?H� T� `FmBCJOL'� XeR?� MG� �q� oGBGTC\qkZn�B?Oe'

0GNGB�N?R\OJ�oeKeEI�Q?CJEJD\�EmRIOJ�TL�CL@J'�<?B?Q�FKF?OBLEC?� omRI�mS� DJRm� FmK� CLD� CG� FmKFL|JFD\� CL� CLDCLDEeNLEJp� L� N?KLFD\� WGBGT� <JDRmO� K?� 6?@LCWm'�=J� S�RJDR?FLMIOJ@�o?O?@p�N?NBJ�DGRL�2LR?Ee�m�6LRJCmF�F�RmD�O?R?<JDR?OL'� <mKH?K\WJp� O?@LCKJB� CLOLTLFp� }?o� O?|CJS� BmSB?TNLRJF� F?QCJ}Lp� m� @J� B?TNLRJRJ� N?CLK� Z�� F?QCJ}p�}?oTC?Fe� DNB?F?OeFLEJ� F?B?QL� EL� ?oKeBJEJ� S?Q?'� 6?@LCKJBTLF|KJ�FGRmF�ELO�B?oJEJ�KR\�NB?F?OLMm��F?B?QL�m�TL@JRGCC\S?@e�?WGS�F�ELOJH�@mDM\Hp�KG�@J�@LR?�NGBGoeFLRJp�}?o�FmCEL@� E?FOD\p� B?oJF� ?oRLFJp� L� F� EJH� @mDM\Hp� KG� @J� WLDEm�GNGBGoeFLRJp�@J�DELBLRJD\�NLRJEJ�\OCLS@GC�G�F?QCJ}�m�NBJFmKH?Km�@LDOeFLRJ��H'

U���X����p�W��W�i��W�

q� OFmEC\p� O?RJ� @J� T+fKCLRJD\� T� o?�FO?U� 4Xp� CL� CLDCLDO?WJR?�N?RIDIOG�FmSDIO?'�<?B?Q�?oDEBmR\F�DN?WLEOe�o?�FOepL� O?@LCKJBp� DN?KmFLUWJDIp�}?� CL@� TLBLT� TL@OCeEI� O?BK?CpCLOLTLF�CGQLSC?�@LB�eFLEJ�CL� DR?FLMIOJS�omO'�<?B?Q� F� DJRm?KC?Q?� N?ROe� Nm�?F� DRmK?@� TL� CL@J� m� TLSC\F� DELC?FJ}L� CLO?BK?Cm'

P� 4R?FLWWJCJ� Nm�RJ� F� CLDEeN� CL� CLD� WGHJ'� 6?@LCKJBCLOLTLF� NBJQ?EeFLEJD\� K?� CLDEeNep�}?o� QCLEJ� WGHmF� L|� K?6LRJC?FLp�o?�N?R\OmF�CL�O?BK?Cm�oeKG�FL|O?�Be�JEJ'

2?RIDIOm� DEBmRIMm� T� FJDeCGCJH� QCmTK� oLWJRJ� CL�JHp� LRGKe@LRJp�}?�MG�WGHJp�m�CG�DEBmR\RJ'�dGHJ�CLD�FJ@JCeRJp�L�N?R\OJNm�RJ� CL� Q?Be� O?R?� DGRL� `DGROL� m� EL@� TB?oJRJ� TLDmKOe'�=JNGBGDO?WJRJ�O?BK?Cp�FGBCeRJD\�K?�ELo?Bep�TLoBLRJ�oLBLo?RU�mBe�JRJ�O?BK?C?@�KLRm�CL�DHmK'�4I?Q?KCm�FmKReWJFD\�DEB'�/?NeHj_?FQJS��T�DGRL�<?R\�2?DE?R?FL�'�<mC�Nm�?F�K?�DGRL�6LRJC?FLCL�DEJD\p�EL@�TLDCeF�F�?KCmS�HLEmp�TR?FJRJ�S?Q?�WGHJ�m�NGBGKLRJCL�KBeQJS�KGCI�N?R\OL@'

�..

#�n��p�W�n���

<?B?Q�CG�KLf�CL@�HFJRJCJ�FmKN?WJCOep�L�NB?��|e�CG@L�CLFmEI@?FJ'�5Dm� DGRL� TLoRI?O?FLCmp� L� N?� RmDLH�}?KGCC?� ?oRLFJ'�A?WomKef@?p�LRG�CG�CLBmOLf@?p�o?�TCLf@?p�}?�CG�TLKLB@L'�2mDR\�MJH?oRLF� @J� T?BmfCEeFLRJD\p� }?� F?B?Q� �eOLf� FJORUWC?� CLD'6mRIOLOBLEC?�@eDmRJ�@J�FmKDEeNLEJ�CL� DR?FLMIOJS�omOp� L�N?Em@O?@LCKJB�KLF�CLOLT�@LB�eFLEJ�F�0BJOeECJOp�o?�EL@�DN?OmSC?'`OBLT�CL�RLEJCDIOm�FGRJO?KCm�DF\ELp�Y�OFmEC\p�F?B?Q�m�?F�MmRJSWLD�F�N?Q?CU�TL�CL@J�m�CLTK?QCLF�CLD�e�XGDOJKm�O?R?�DGRL�1DRLFJMm'0eE�@J�NGBGS�RJ� RmD� CL� DR?FLMIOJS�omO� m� TLSC\RJ� DELC?FJ}LomR\�NLR\BCm�FeQmRR\'�:L�DR?FLMIO?@e�o?Mm�F�RmDLH�@J�TCLS�RJ�NmKFGRJOJ@J� \RJM\@J�N?oeK?FLCm� CL�J@J� RG@OL@J�OLNRJWOJ'��mOLNRJWOJ�oeRJ�N?oeK?FLCm�DL@G�CLFGDCm�S�FRmEOe�qkZY�B?Oep�O?RJFmKoeFLR?D\�CLDJRICG�FJDGRGCC\p�L�RG@OJ�FEmOLRJ�F�DR?FLMIOm�RmDJBLT?@� T� DF?�@�@LSC?@'�0LOL�OLNRJWOL�oeRL� ToeK?FLCL� T� Reo+\peKGO?B?FLCL�?oBLT?@�=LEGBm�X?|?�p� omR\�CG�� oLQLE?�?oBLTOmF� mHBGDEJOmF� T� FmKNeDEmF'�=J� FDm� omR\� Emf�� OLNRJWOJ� N?@?RJRJD\pO?@LCKJB�CLOLTLF�CmW?Q?�CG�BeHLEJp�}G�OBL}G�CLOBJEJ�Reo+\@po?�Mm�OLNRJWOJ�*�MG�?KJC�mT�K?OLTmF�FJD?O?��HBJDEJ\CDIO?��@?BLRmeOBL�CDIO?Q?�CLB?Kep�L�T�KBeQ?Q?�o?Oep�Q?F?B\EI�NB?�WLDJ�:GB?CL*�FLBFLBDIO?��FRLKJ�F�C?FmS�2?RI}m�m�KJOmS�=?DOFm'

=J� DN?KmFLRJD\p� }?� CL@� eKLDEID\� DN?OmSC?� NGBGoeEJN?RIDIOm�DF\EL'�0L�KG�EL@'�2BJ\EGRm�4FfBWGFDIO?Q?�NBJD\QCeRJN?@DEJEJD\�m�CG@JR?DGBKC?�Q?CJRJ�FD\OJH�~BLCOmF�K?�CL�JH6LBNLEp��}?o�bBJC\�T��e@?F?U�BeO?U�TCJ}JEJ�Lo?�NBJFGTEJ|JFJ@�K?�<LB�LFJ�'

V�r���X�X�������� � �p

5FGW?Bm�@J�NGBGKBLRJD\�WGBGT�?oDELFRGCJS�TLRmTCJWCJS��R\HF�@LDJF�ABG}LE?�p�DNLRJ�OmRIOL�Q?KJCp�L�N?Em@�Q?R?KCmp�\O�F?FOJpo?�F|G�EBJ�KCm�CmW?Q?�CG��RJp�Nm�RJ�RmDL@J�WGBGT�Q?Be�1OBeQRe�CLDGR?�=LCmF'�<�DGRm�OFLBEJBef�F?B?Q'�:G�TFL|LUWJ�CL�MGp�TomBCJSBmS� �N?� KF?f� DEBmRIMmF� T� O?|C?Q?�B?\�� NmKDeFLfEID\� K?� DGRL�N?oLBLo?RUp�LRG�TL@mDEI�oLBLo?Rm�CLEOCeFD\�CL�F?B?QL'�:L�m�HR?NMmN?OB?NJRJ�R\HmF�F�?KCmS�HLEm�LFE?@LECJ@�F?QCG@�m�N?FEmOLRJ'�<W?BLO?R?�DGRL�1DRLFJMm�FmKDELRJ�OjB�PGCO?p�B?S'�4eOp�O?@'�2��4?OmRpDEB'�2mTCJS�m�<JFmBOLp�LRG�N?�\O?@eDI�WLDm�F?CJ�NBJfKCLRJD\'

�.�

=J�@LRJ� CLDEeNLEJ� F|G� CL� DGR?p� Ke@LUWJp�}?� N?R\OJo+UEI� CL�JH'� 0J@� WLD?@� QBeNL� �oLCKeBCJOmF�� FmKReWJRLD\OeKJDI� T� oeCW'�2BJDNmF?@� m��eNLO?@� m� N?KLRLD\� F� CLNB\@m/eO?FLp�L�@J�@LB�ef@?�F�CLNB\@m�EGBGCmF�OjBL�X?BL'��P�QBeNJoeCW'� 2BJDNmFL� NB?NLRJ� oGTFmDEJg� DEB'� X?S?FWJO� T�2eRLF� mDEB'�bBeoJS�T�<?Rm�2GEB?F?��'

V��'�������p��

6?@LCKJB� CLOLTLF� @LB�eFLEJ� oGTN?DGBGKCI?� CL� DGR?<GERJCep�}?o�EL@�KmDELEJ�HLBWmF'�=J�F|G�CG��RJ�CmW?Q?�N+\EJSKGCI'�<�DGRm�CLDGRGCC\�CLD�CG�TCLf'�<Dm�NJELUEIp�}?�TL�D?EC\pLRG�O?@LCKJB�TLo?B?CJF�OLTLEJp�o?�O?RJ�N?R\OJ�K?FmKLUEID\pE?�TLBLT�EeE�oeKG�?oRLFL'�7LKmF�DEB'�4OLOeCp�}?�CLBG�Em�FmKFmKLFDF?U�BmKCe� HLEe'�V?Q?� oLEIO?�*�CLSomRI��WGDCJS� m� mKGSCJSDGR\CJC� E?Q?� DGRL'� <� MI?@e� DGRm� \� DN?DEGBmQp�}?� CLDGRGCC\Q?F?BJEI�CGTFJWLSC?�MmOLF?U�@?F?U'�:LNB'g��I?�H?WGEGp�KmF�\jELp��I?RI?Fm�G�o?|ImSp��\CeFLEJp��IO?RLp��\CKLB�m�E'�N'

=J�CLoBLRJ�OLBE?NRmp�Nm�RJ�CL�FeTIO?E?BmFOe�O?R?�DGRL4EBeo?FJDIOL� m� EL@� TLELo?BeFLRJ'��LCKLB@GBm\� @LB�ef� K?DGRL�`F?BGMI�N?�HeK?oe�CL�@+\D?p�L�oeCW'�4?R?FmS�T�OmRIO?@LDEBmRIM\@J�Nm�?F�K?�?'�`F?BGCOLp�OLNGR\CL�528p�}?o�NBJS�?FNGBGK� DF\EL@J� FJDN?FmKLEJ� FmSDIO?'�2?� K?B?Tm� TeDEBmRJD\� T?H?B?C?U� OjBL� FmKEJCOe� 7GCL� m� NB?DJRJp� }?o� O?@LCKJBNBJS�?Fp� o?� KFm� D?ECm� NGBGoeFLUEI� O?R?� 4EBeo?FJDIO'6?@LCKJB�7'�OFLBEJBeFLF�E?Km�F�DGRm�<GERJCm'

5� CLD� FGRJOJS� BeH'� /LELf@?� RLEJ� CL� CL�?@e� ?K\TmpN?NBLFR\f@?�N?KGBEG�FTeEE\p�WJDEJ@?�ToB?Up�Q?Eef@?DI�NBJFmELEJOjBL�FmKEJCOe'�0Lp�CL�NBGFGRJOJS�|LRIp�@J�S?Q?�CG�Km|KLRJDI'XeCW'�4?R?FmS�N?FGBCeFD\�m�DOLTLFp�}?�?'�`F?BGCO?�CG�NBJSKGpo?�EBGoL�q��OmR?@GEBmF�mEJ�Nm�OJp�MG�KR\�CI?Q?�TLKLRGO?'

:L� NBGFGRJOe� BLKmDEIp�|LCKLB@GBm\� NBJQCLRL� KFL� FGRJOmF?RJp�DEBmRIMm�NBJCGDRJ�OmRIOL�FmKGB�oeRIoJ�EL�KFL�oeHLCMm�HRmoL'4F\EL�FDG�|�ELOJ�oeKeEI'

R� ����W���p��

/mD�}?SC?�N?WLF�B?TFJFLEJD\'�2mK�C?QL@J�KGjCGjKG�TGRGCmRLEBLFOLp� LRG� D?CMG� NBJQBmFLR?� ELO� EGNR?� S�@JR?p�}?� CL� Ke�m

�.Z

DELR?�FGDGR?'�XeR?�\O?DI�ELO�KJFC?p�}?�W?R?FmO�NJELF�DL@�DGoGpO?RJ� F|G� CLBG�Em� NBJSKG� F� BmKCG� DGR?p� TLDNmFLf� �ABJDE?DF?DOBGD�p� L� 5OBL�CL� oeKG� FmRICL'�2BJQLKLRJDI� @?R?KGWm� RmELpQLQmROJ� omR\� KTFmCJMmp� FGRJO?KCm� KTF?CJp� N?DEBmRJp� DF\E?WC?eoBLCm�KmFWLELp�HR?NMmp�OBeQ?@�BLKmDEIp�D@mHp�|LBEJ�m�DNmFJ'�8CJCm'''�CG�WeEJ�FGRJO?KCmH�KTF?CmF'�0mRIOJ�oGTCLDELCC?�ORGO?WeEIOeRG@GEJp� QLC\f� ?DOL|GCmRJS� F?B?Qp� L� EJ� DJKJ�� Q?R?KCJSpCLFmEI��oLCKeBOJ��m��KeQLCe��FL|O?�KmDELEJ'�8RG�MG�FDG�oLSOL'2BJSKG� WLD� m� TLQBLUEI� FGRJO?KCm� KTF?CJp� L� EJ� F?DOBGDCG�p@?\� 5OBL�C?'�=GCm� ?KCLO?F?p� WJ� oeKe� \� oLWJEJ� F?RUp� WJ� CGoeKe'�`�DF\E?�NGBGO?CLCJSp�}?�@mS�EBeK�CG�SKG�KLB?@'�6BL}G|JEJ�O?B?EO?p�LRG�DRLFC?p�N?jRJMLBDIOJp�F?RIC?@ep�F�6LBNLELHmT�ToB?fU�F�BeOLHp�Cm|�|JEJ�m�QCJEJ�BLo?@'

<GRJO?KC\�CGKmR\'�7LC?�@J�FDm�NBJQ?E?FR\f@?D\�K?�DF\E?WC?�TomBOJ'�<�K?FQJH�RLFLH�DELR?�KFm�D?ECm'�:L�W?R?�D?EGCI�NBJS�RJ?oJKFL� D?EGCCmp� omR\� CJH� N?RmEFJH?FCJOJp� LoeCW'�2BJOeS�DORLKLF�TFmE'�6mRIOL�OB?OmF�NGBGK�D?ECGU�FJDEeNLFOjB�ABmC� m�DHFJRI?FLCJ@�Q?R?D?@p�\O�CmO?RJp�DOLTLFg��ABJDE?DF?DOBGD�'�4?ECm�QBm@O?�FmKN?FmRJg��<?DOBGDCG�5OBL�CL�'�6?@LCKJBQR\CeF�CL�HR?NMmFp�HFJRJCe�CG�Q?F?BJFp�L�T�?WGS�EGORJ�DRI?TJ'4?CMG�\DC?�DH?KJR?�S�?DFmWeFLR?�CL�m�F?\MIOm�RLFJ'�6?@LCKJBN?oL|LF�eDm@�F?\MIO?Q?�}LDE\p�}LDRJF?Q?�N?F?B?Ee�K?�BmKCJHHLE�e�FmRICmS�CGTLRG|CmS�eOBL�CDIOmS�KGB|LFmp�m�CL�O?|CJS�BmSKLF� ?KCG� \SMG'�dJ� F?C?� oeR?� DF\WGCGp� CG� TCLUp� o?� F� MmR?@e0BJOeECJOe� E?Km�oeF� EmRIOJ�?KJC�DF\}GCJO�F� DGRm�7LSDIOm@�*?'� KGOLC� XeTUO� m� CL�� FmSDIO?FJS� OLNGR\C?'�H?B'�`F?BGCO?'�<Dm�mC�m�FJQCLCm�TL�4\Cp�DJK\EI�F�N?RIDIOJH�momRI�?FJMIOJH�EUB@LH�Lo?�N?@?BK?FLCm'

7LNE?@� NmKmS�?F� ?KJC� DEBmRGMI� m� N?KLF� O?@LCKJB?FmN?KLBeC?Op�\OJS�NBJDRLRJ�CL�m�KmFWLELjN?FDELCMmg�=LBmSOLp�_e@Lp=LBEL� m�/GD\'� ��\�?DELCC\�eWGCJM\�CL�?Q?�O?@LCKJBL�'� >� ELONGBGK�D?ECGU�O?@LCKJB�FmKOBJF�MGS�NLOeC?O�mp�CG�FmB\WJ�FRLDCJ@?WL@p�N?oLWJF�EL@�LCKBeE?FJS�E?BE�m�DJBCJO'��G�FDG�B?TN?KmRJFO?@LCKJB�CL��@LE?WOJ�m�B?TKLF�F?\MEFe'��\�}JBmDEI�O?@LCKJBLTF?Be�JRL�DEBmRIMmF'�2mDR\�MI?Q?�O?@LCKJB�KLF��B?THmK�'�7LNE?@om|LEI�DEmSO?Fm�EL�CGDeEI�CG�FmDEOe�NB?�EBJF?Qep�L�E\QCeEI�KFm@LRGCIOm�TR?FRGCm�KJOm�DFJCOJ'

4EBmRIMm� B?TmS�RJDI� CL� DF?�� @mDM\p� N?WLRJ� D?om� FTLf@C?oL|LEJp�L�O?@LCKJB�TLoBLF�WLDEJCOJ�\fMI� m�Nm�?F�K?�TLDELFp

�.[

}?o� �@� DORLDEJ� N?oL|LCC\� EL� N?KmRJEJD\� T� CJ@J� DF\WGCJ@\SMG@'�`�ELO?|�N?KmRJF�\SMG�CL�q��WLDEJC�EL�N?WLF�oL|LEJ�mNB?@?FR\EJ�K?�DEBmRIMmF�@?Q?�B?\'

:G� ?KJC� DEBmRGMI� F� MU�HFJRJCe� TLNRLOLF'� 0L� MG� CG� oeFNRLW� �@L@JCJH� DJCmF�� Lo?� �?oGTK?RGCJH� BeDJCmF�'� :m'� �GNRLOLRJ�F?\OJ�528�EmRIOJ�F�Ee�HFJRJCep�\OL�CLQLKLRL��@�DF?�HCLSK?B?|WJHp� B?TOJCGCJH� N?� FDI?@e� DFmEmp� NmK� QCmE?@� m|LHRJFJ@� EGB?B?@� @?DO?FDIO?Q?� OLEL� EL� S?Q?� CLS@JEmF'2RLOLRJ�mT�TLFT\EE\�m�CGCLFJDEJ�K?�F?B?QLp�\O�EFGBKm�m�CGTRL@CmomSMm'�:GKmR\�NB?S�RL�CL@�DN?OmSC?'

2mK�FGWmB�@LB�ef@?�CL� Q?Be�=L�eBep�CGKLRGO?�FmK�Oe}L<mQ?BL'� <� K?B?Tm� @J� TLC?WeFLRJ� F� oeO?F?@e� RmDmp� L� BLCO?@N?KLRJD\� KLRm'� b?R?FCG�*� @Lf@?� @+\D?'� 4EBmRIMm� F|G� ELONBJTFJWL�RJDI� K?� CI?Q?p�}?� �K\EI� DJBG� T� FGRJOJ@� LNGEJE?@'4?ECm�TLSC\RJ�DELC?FJ}L�CL�?KCmS�Q?Bmp�L�O?@LCKJB�Nm�?F�K??'�`F?BGCOLp�}?o�ELOJ�NBJS�?F�FmKNBLFJEJ�4Re|oe�X?|e'�2?K?FQJH� EBeKLH� ?'� `F?BGCOL� FKLR?D\� CL@?FJEJp� m� @J� N?WLRJQ?EeFLEJD\� K?� X?Q?DRe|GCC\'

#������Xm���]�m�

:L�BmFCmS� N?R\CMmp� CLK� N?EmWO?@� �CLFO?R?� Q?BJ� m� RmDJ�� FW?EJBJOeECJOe� DELRJ� KFm� D?ECm'� _?� CGFGRJWO?Q?� NBGDE?ReNmKmS�?F� ?'� `F?BGCO?� e� DF\E?WCJH� BJTLH'�2?WLRLD\�4Re|oLX?|L'

:L�Q?BLH�RG|LRJ�CL�m�TLDELFJp�DFmEJR?�\DCGp�FGDGRG�D?CMGm� MmReFLR?� ?oD@LRGCm� FGDC\CJ@J� FmEBL@J� RJM\� RG@OmFDIOJHF?\OmF'�bBm@OG��ABJDE?D�F?DOBGD��DNRmELR?DI�T�|eBO?E?@�N?E?OLp�e@?@�RmDmF� m�CGDR?�F?DOBGDCe�NmDCU�KLRGOJ@J�FGBHL@J'�1Hp\O�N?WeFLF�\�DGoG�E?Km'�`�H?EmF�BFLEJD\�F�NB?DE?BJ�EL�oeEJ�FMU�HFJRJCe�CLK�O?|CJ@�DGR?@p�omR\�O?|C?��MGBO?FMm�CL�@?�SBmKCmS�5OBL�Cm'�_e@OL@J�oeF�\�oGTNGBGBFC?p�H?Wp�@?|Gp�F�MUHFJRJCe�@LF�\�QBmHp�omR\�DF?�H�BmKCJH�KBeTmFjN?FDELCMmFp�TQLKeFLFCL��NB?FmK�m�O?@LCKJBmF�DR?FL@Jp�ELOp�\O�OLTLF�@mS�O?@LCKJBFW?BL�CL�NB?@?Fm'�<?CJ�ELO?|�DF\EOeUEI�ELO�DL@?p�\O�m�@Jp�FRmD?FJH�CGEB\H�e�CGoGTNGMmp�oL|LUWJ�CL@p�DF?�@�F?\OL@p�}LDE\m�DJR�}LDRJF?�FJEBJ@LEJ�F�MI?@e�FGRJO?@ep�TLFT\E?@e�o?U'

6?RJ�DF\}GCJO�N?WLF�WJELEJ�4F\EG�^FLCQGRmfp�NB?ReCLRLO?@LCKLg��4EBeCO?'�:L�NRGWG�OBmD'�6BmD?@�N?WGDEI�FmKKLS'�:L

�.Y

FmFELB� QR\CI�'�=GCm� NBJQLKLRJDI� DR?FL� T� mDE?Bm�p� \O� O?TLOJ� FWLD� WJELCC\�4F\E?Q?�^FLCQGRm\� FJE\QLRJ� K?� N?R?FJCJ��LoRmCL�TCLO�Q?E?F?DEm�K?�o?U�TL�FmBe�m�CLB?K'�0LO�m�@J�Q?E?Fm�EGNGBFmKKLEJ�|JEE\p�o?�}?�|�E?�TCLWJEI�e@GBEJ�O?TLO?Fm'�=J�e�FmWmD@mf@?D\� D@GBEm'

2mDR\� WJELCC\� 4F\E?Q?� ^FLCQGRm\� DF\}GCJO� FJQ?R?DJFNB?@?Fep�L�N?Em@�KLRm�NB?K?F|eFLF�FmKNBLFe'

1N?KLRmO� CLD� DE?\RJ� KBeTm� T� EGBGC?F?�� DmEOJ'� XeRJ� EL@gNB?F'� X?BJDp� BLS'� Q?DN'� 4OBJEJSp� Oe}'� /LCp� Oe}'� <mQ?BpOjB� X?QKLCp� D?E'� _mKJOp�=LBmSOLp�=LBELp� _e@L� m� /GD\� EL� B\KDEBmRIMmF'�XmR\�CJH�DE?\F�O?@LCKJBp�L�?Wm�S?Q?�NGBGomQLRJ�N??oRJWW\H� F?\OmF'

2?�4Re|om�X?|mS�D?ECm�FmKmS�RJ�K?�N?E?Oe�FLBJEJ��DEJp�LO?@LCKJB�NBJQLKLFp�}?�DI?Q?KCm�?oRJFLRICJS�N?CGKmR?O'�A?W\O� oeR?� EBGoL� K?KGB|eFLEJ� EJ�ep� LRG� FDG� ELOJ� F� N?E?Mm�OeNLRJD\��DEBmRIMm'�:G�?omS�R?D\�m�CL�?@e�O?@LCKJB?Fm'�V?Q??oRJRJ�K?oBG�CL�m�KmFWLEL'

�X���Wi�r������y��S���]���

:L�Q?Bm�=L�eBm�@J�TeDEBmRJD\�T�D?ECGU�OjBL�X?BL'�`OBLTF?CJ� @LRJ� omS� O?R?� DGRL� XeOLp� KG� N?R\OJ� DJNCeRJ� CL� CJHDJRICJ@� F?QCG@p� FJQeOeUWJg� �XJSp� MG� SKG� bBJCI�'�:L�m� KFmD?ECm�OFLBEJBeFLRJ�F�RmDmp�L�OjB�XmB�*�F�DGRm�6BJF?@e'�=J�FDGR?�CG� N?OLTeFLRJD\p� E?@e�}?� \O� F?B?Q� K?FmKLfEID\p�}?�@JEeEp�TLBLT�oeKG�?oRLFL'�0L�WJ�EBGoL�oeR?�K?FQ?�|KLEJ'

:L�EBGEmS�KGCI�DF\E�@J�N?WeRJp�}?�T�eDmH�DE?BmC�F�CLNB\@m�OeEL�� mKeEI�FGRJWGTCm�DJRJ�N?R\OmF'��G�NmK+�|K|LRJ�FmSDIOLp\Om�?NmDR\�FJDGRUFLRJ�RUKGS'

�mf�� C?Wm� ?KJC� CL�� BmS� @LF� omS� T� N?R\OL@J� O?R?� DGRL0F?BJRIC?Q?�mp�DJNCeF�J�N?�CJH�F?Q?CIp�FmKDEeNJF�oGT�eEBLE'

4I?Q?KCm�T�CL@J�T+fKCLRLD\�D?EC\�OjBL�X?BLp�m�@J�FDm�BLT?@N?KLRJD\� <GERJCDIO?U� N?R?CJC?Up�}?o� NB?SEJ�@m|� DGRL@J<GERJC?U� m� XGBGQL@J� F� XGDOJK'�1KCLO� CL@� e|G� CG� FKLR?D\NB?BFLEJD\'� <?B?Q� ?oDLKJF� Q?DEJCGMI� m� TLSC\F� DELC?FJ}L� FNBJK?B?|CmH� B?FLH'� PCLUWJ� EeE� K?oBG� EGBGCp� OjB� XmB� N?FmF<GERJCDIO?U�N?R?CJC?U�CLTLKp� N?CLK� DGR?@�<GERJC?U'� XmR\MGBOFJ� F� DGRmp� TLRJ�LUWJ� N?� o?OLH� N?R\OmFp� @J� EJHGCIO?NGBGDeCeRJD\�WGBGT�BmOep�K?B?Qe�m�NGBGS�RJ�F�XGDOJK'

�.n

R�]��� �W

<|G�DFmELR?p�O?RJ�MmRJS�OeBmCI�B?TEL�eFLFD\�K?�DN?WJCOeCL�TLHmKCI?@e�DHJRm�Q?BJ�̀ FmBCJO'�<DG�N?O?E?@�TLDCeR?�EFGBKJ@DC?@'� XeF� QLBCJSp� D?C\�CJS� KGCI'� 4EG|L� FmKOjBL�X?BL�KLRL�TCLEJp�}?�F?B?Q�KLRm�NmKE\QLf�DF?��DJRJ'�2?N?ReKCm@J�Nm�RJ�FTK?F|�FeTIO?E?BmFOJp�L�N?Em@�DEG|O?U�N?CLK�N?E?O?@K?�O?BK?Ce'�PL�OmR?@GEB�NGBGK�Q?B?U�1OBeQRJO�@J�DOeNLRJD\F� oJDEB?@e� QmBDIO?@e� N?E?Mm'� �G� NGB�L� CL�L� OeNmRI� MI?Q?B?Oe'�A?W�DJEeLMm\�N?FL|CLp�LRG�DEBmRGMEF?�FGDGRG'�6?EBJSDImT�CL�JH�DEBmRIMmF�TLOBJWLF�CL�MmRJS�XGDOJK�T�BeWC?��DJBGCJCL�NB?}LCC\'�6?@'�N?RI?F?��|LCKLB@GBm��4?OmR�oeF�TRJSp�o?MG�oeR?�NmK�S?Q?�?NmO?Up� m�FmC�o?\FD\p�}?�KmDELCG��OLCEmFOe�FmK�O?@LCKJBL'�4JBGCL�oeRL�TCL@GCJEL�BmW�F�o?U'�<GBG}LRLpNJ}LRLp� DE?QCLRLp� OBJWLRL� BmTCJ@J� Q?R?DL@J'�2?� OeNGRm� @JFJS�RJ� CL� Q?Be� 1OBeQRJO'� 0eE� FmKOBJRLDI� NLC?BL@L� CL<GERJCDIOe�N?R?CJCe�m�CL�6LRICJMIOm�FGBHJ'�0L@�FJKC?�F?B?|mB?TDEBmRICmp�}?�NGBGH?KJRJ�FGBHL@J�m�NLRJRJ�TL�D?o?U�O?@J�m'

2?WJCLf� Q?BmEJ�/G@OmF}JCL'''XGBG@?� CLNB\@� RmDL@J� CL� 7?TE?OJ� b?Bm�Cm'� 2?� K?B?Tm

CLEBLNR\f@?� CL� B?ToJEJS� B?DmSDIOJS� RmELOp� L� omR\� CI?Q?CLH?KJ@?�oLQLE?�DOBJCI?O�T�OBmD?F?U�m�NLNL�O?F?U�L@eCmMmfU'4EBmRGMEF?�OJCeR?DI�K?�E?Q?p�\O�KmEJ�K?�QBe�?O'�6?|CJS�HLNLfp}?�@?|G'�2GBGH?KJEJ�N?R\@J�DGR?�7?TE?OJ�}G�BLC?'�dGOLf@?NBJD@GBOe'�<Dm�EBJ�D?EGCCm�DmRJ�D?om�CL�NGCIOLH'

:L�TG@RU�DNLKLF�NBJD@GBO'�=J�DI?Q?KCm�}G�CmW?Q?�CG��RJpLRG�Be�Lf@?�F�CLNB\@m�DGRL�4?RJCOJ'�2?�K?B?Tm�EBLNR\UEID\CL@�B?TNLRGCm�F?QCJ}L'�_?�CJH�NmKDeFLf@?D\�F�o?S?F?@e�RLKm'2GBGFmBJF�Jp� DEFGBKJRJp� }?� EeE� oeF� F?B?Q� m� FmKmS�?F� FCGFmK?@?@e� CLNB\@m'

��Wm�'W��' ����n��W������n���

1NmFC?Wm�@J�TLOFLBEJBeFLRJD\�CL�=LEBLQ?Cmp�@m|�@mCL@JpL�WLDEJCL�DEBmRIMmF�T�EBI?H�D?EGCI�Nm�RL�N?�oLBLo?RU�K?�DGRLXLRICJMm'�4EBmRIMm�DO?B?�N?FGBCeRJDI�m�K?CGDRJp�}?�F�DGRm�F?B?Q'0eE� @J� ?KGB|LRJ� ELO?|� MmOLFm� FmK?@?DEmp�}?� CL� TLDmKMmp� KGTLQJCeF�QGC'�4FfBWGFDIOJSp�TLQJCeF�ELO?|�?KJC�o?RI�GFJMIOJSQGCGBLR� m� EBJ� N?RO?FCJOJ'� 0?Q?� QGCGBLRL� TLoBLRJ� DO?B?� F

�.w

CGFmK?@?@e�CLNB\@mp�m�NB?�MG�N?R\OJ�CmKG�CmO?@e�CG�Q?F?BJRJ'5KGCI� �TK\EI� EeE� oGT� NGBGBFJ� F?B?|m� LFE?@L�JCJ� m� ELCOJ� TFmSDIO?@'�1KC?� LFE?� N?NDeFLR?D\� m� oeBWLR?� O?R?� CLD� OmRIOLQ?KJC'� 2?R\OJp�}?o� Be�JEJ� S?Q?� T� @mDM\p� FJDRLRJ� OmRIO?HF?\OmFp� }?o� FJBeoLRJ� OmRR\� DL@G� OmRIOL� @GEBmF� FmK� CL�JHDELC?FJ}p�LRG�TLWmNLEJ�OmRIO?H�|GoBLOmF�CL@�CG�H?EmR?D\'�2?}?DGoG� B?TO?CDNmB?FeFLEJ� m� TL� @LRe� O?BJDEI� B?oJEJ� BeH'� 8RGO?RJ�LFE?�}G�KLRm�oeBWLR?p�O?@LCKJB�FJDRLF�KFm�W?EJp�}?o��HN?OLBLEJ'�0mRIOJ�W?EJ�N?WLRJ�NmKDeFLEJD\p�\O�Be�JF�@?E?B� mN?E\QCeF�@L�JCe�BLT?@�T��?oJFLEGR\@J��CL�XLRICJMU'

���o�������x��X

5C?Wm� FGDI� CL�� OeBmCI� NGBGH?KJEI� DGR?��GBoLCmFOep� KGDEBmRIMm�FmKCLS�RJ�?KCe�NJFCJMU�T�oLBLo?RGUp�TLoBLRJ���p�TLS�RJF�RmDp�DNGORJp�NmKOBmNJRJDIp�KG}?�N?DNLRJ�m�Be�JRJ�KLRm'

:L�NmFKGCC?@e�DHJRm�ABG}LE?��TLOFLBEJBeFLF�MmRJS�OeBmCI'=J�FJDRLRJ�B?TFmKOe�K?�DmR�=LCI?FL�m�<?Rm�=mH?F?�'�7?TFmKLWmK?CGDRJp�}?�F�DGRLH�N?FC?�FmSDIOLp�L�RUKJ�m�F?\OJ�Q?F?B\EIp}?�CL�XLROLCLH�FmSCL'�=J�FDm� TBLKmRJp� LRG�CG�K?FQ?p� o?�CL@O?@LCKJB�DOLTLFp�}?�F?B?Q�MG�Q?F?BJEI�KR\�NmKDEeNe'��G�oeKGFJFmT�CLDGRGCC\�Lo?�FGRJOm�?oRLFJ�TL�CL@J'

:L�KBeQJS�KGCI�CL�m�O?@LCKJBJ�}?DI�K?FQ?�BLKJRJD\p�LN?Em@�OjB�ABmC�FJQ?R?DJF�NB?@?Fe�K?�D?ECm�OjBL�X?BL'�2B?@?FLoeRL�QLBCLp�NLROLp�TF?Be�JRL�DEBmRIMmFp�eDm����HFLRJRJ'�2L@+\ELUDR?FLg��5�MU�QBmTCe�DJEeLMmUp�O?RJ�CL�CLD�BJCeRL�CLFLRJ�F?B?QLp@J� T+fKCLRJD\� CGDN?KmFLC?� F� ?KJC� OeBmCI'� `OLDI� CGFJ@?FCLKBe|oL�m�RUo?F�T+fKCLRL�CLD'��G�f�TLN?BeO?Up�}?�NBJSKG�WLDpO?RJ�@J�T+fKCLf@?D\�CG�EmRIOJ�F�OeBGCmp�N?ROJp�L�S�e�TLRmTCmKJFmTm�� m� NmKG@?� NGBG@?|CJ@�@LB�G@� CL� T?R?E?FGBHJS�6J�F'=J�BLT?@�CmO?RJ�CG�F?UFLRJp�o?�CL�MG�CL@�CG�K?TF?R\RJ�CL�mEGBGC?Fm�?oDELFJCJ'�X?S?Fe�DRLFe�KmRJRJ�@J�NGBGFL|C?�T�D?ECGUOjBL�_mKJOLp�\OL�FmKmS�RL�NmK�O?@LCKeFLCC\@�OjBL�XB?KJWL�F6BJCJWWJCe'�1KCLOp�TLFT\Em�KBeTm�omBmFMmp�eDNm�C?�oJSEG�F?B?QLpoL|LU� FL@� }LDE\� m� DJRp� m� NB?�e� FLDp� L� T?OBG@L� FL�?Q?O?@LCKJBL�N?B'�X?BLp�O?RJ�N?WefEGp�}?�TL�CL@J�QLC\f�F?B?QpFKLBEG�S?Q?�N?�TLKLHp�}?o�CLD�FmKE\|JEJp�L�@J�O?|C?��HFJRJCJQ?E?Fm�NmEJ�K?�FLD�T�K?N?@?Q?U�m�FmKE\|GCC\@�'

2BJf@C?�oeR?� KJFJEJD\p� \O�NB?}LRJD\� KFL� O?@LCKJBJ� m

�.k

@J� T� D?ECGU� OjBL� X?BL'�2?NB?}LF�JDIp� @J� Nm�RJ� F� DF?f@eCLNB\@m'

R���m ������X�

=m|�.[�OFmEC\�m���EBLFC\�qkZn�B?Oe�T+\FJR?D\�CL�/G@OmF}JCmBLT?@�T�EJ@Jp�\Om�EeE�F|G�oeRJp�O?R?�k[�EJD\W�F?B?|JH�FmSDIO':GTLK?FQ?� DJRJ� T@GC�JRJD\p� o?� \OJH� .[� EJD\W� N?�HLR?LFE?O?R?CL@J�F�CLNB\@�2GBG@J}JCJ'�:L�O?BK?Cm�oeR?�qw�EJD\WWGHmF'�<�WJDRm�N?RIDIOJH�FmSDIO�oeR?����FmKD?EOmF�o?RI�GFJOmF'<mSDIOL�NBJ�HLRJ�F�N?FC?@e�o?S?F?@e�FJB\Kmp�L�T�CJ@J�ELCOJpLBEJRGBm\p�NLCMGBCm�N?�TKJp�DLNGBCm�WLDEJCJp�ELo?BJ�m�RGEeCDEF?'5Dm� CL�m� W?EJ� oeRJ� B?TmDRLCm� F� BmTCm� DE?B?CJ� @L�LTJCeFLEJTom||\p� OLBE?NRU� EL� FD\Om� mC�m� BGWmp� N?EBmoCm� CL@p� O?RJFJFGTeEI�RUKGS'�6?@LCKJBJ�W?E�KmDELRJ�ELf@Cm�mCDEBeOMm�'

{�� ���� �����p

<mKBmTLF�J�ELO�CLDGRGCC\�FmK�O?CELOEe�T�CL@Jp�NB?E\Q?@OmRIO?H�KCmF�F?B?Q�FJOJCeF�DJR?U�FDG�CLDGRGCC\'�4GRL�KmDELFLRJCLOLT� TL� OmRIOL� Q?KJC� NBJQ?EeFLEJD\� K?� FJ�TKe'� _G\Om� DGRLKmDELRJ�EmRIOJ�NmFQ?KJCJ'�2?WLRJD\�@LD?Fm�LBG�EJp�OLEeFLCC\pDRmKDEFL�m�FoJFDEFL'

:LDGRGCC\�EBJ@LfEID\�K?oBG'�2BJ�CGWeFLC?@e�F�mDE?Bm��EGB?BmF?C?�CG�TBmOLfEID\�CLDp�L�CLFNLOJp�T�o?RG@�e�DGBMm� EeBoefEID\CL�?U�K?RGU'�XLQLE?� DGR\C� TLRJ�JR?� e@JDCG� F� OBJ�FOLH� KR\N?FDELCMmF�Tom||\�m�?K\Qp�F�NJFCJM\H�*�FmFMmp�EGR\EL�Lo?�FJQLC\RJ�H� e� RmD� CL� KLFCm� NeCOEJ'�4OBmTI� oeR?� WeEJ�NRLW�|mC?Op� KmEGSpDELBJOmF'� P� B?TNeO?U� DGR\CJ� DORLKLRJ� CL� NmKF?KJ� DF?f� QmBO?TLNBLMI?FLCG�@LSC?p�L�omRI�mDEI�@eDmRL�TLRJ�LEJ�S?Q?�CL�@mDMmpo?�CG�@LRL�O?CGS'��?�FT\F�CL�NRGWmp� EG� m� FB\EeFLF'�<�CL�?@eEGBGCm�Km\RJDI�|LHRJFm�TFmBDEFL� m�EGB?Bp�o?�F?B?Q�TCLFp�}?�EeE?NGBeFLRL�/G@OmFDIOL�D?EC\p�F�DORLKm�\O?��oeRJ�RG@OJ�T�EJH�|GDmR'�=DEJRJD\�F?CJ�TL�4FfBWGFDIO?Q?p�TCJ}GC?Q?�CL�?U�D?ECGUT�OmRIO?@L�FJ}J@J�N?RIDIOJ@J�m�o?RI�GFJMIOJ@J�O?@LCKJBL@J'=m|�4\C?@�m�XLRJQ?B?K?@p�F�QmBDIO?@e�EGBGCmp�H?W�F?B?Q�DNLRJFeDm�DGRLp�FDG�ELOJ�TLRJ�LRLD\�oLBLo?R\p�L�F�OBJ�FOLH�N?KGOeKJTom||\'� :LE?@mDEI� F� CL�?@e� EGBGCm� @m|� XLRJQ?B?K?@�*`DRJDIOL@J�m�4\C?O?@p�H?W�F?B?Q�CG�DNLRJF�DmRp�TLEG�FJFmT�FDGp

���

}?�@?QR?�oeEJ�N?EBmoCG�RUKJCmp�N?oJF�|?BCLp�N?CJ}JF�o?WOJ'_GjCGjKG� FmC� TLRJ�JF� EB?HJ�OLBE?NRm� m� TLEB?fCe�OLNeDEep�}?oEL@� B?oJEJ� TLDmKOJ'� XLQLE?� DEBmRIMmF� m� O?@LCKJBmF� BmTCJ@JK?B?QL@J�?KGB|eFLRJ�NB?}LRICm�RJDEJ'

<JDGRGCC\�FJQR\KLR?p�\O�KJOJS�ELELBDIOJS�CL�TK'�6BeQ?@KC\@J�S�C?WL@J�Q?BmR?p�N?�DGRLH�WeEJ�oeR?�BGF�HeK?oJp�mB|LCC\O?CGS�EL�KJOm�N?RIDIOm�S�o?RI�GFJMIOm�FJQeOJ�m�N?DEBmRJ'

<?B?Q� N?EF?BJF� F� BmTCJH� @mDM\H� NeCOEJp� KG� D?BEeFLFCLDGRGCC\� CL� OmRIOL� OLEGQ?BmS'� :L� NGFCJHp� NmK?TBmRJH� mCGNGFCJH'� <� ELo?BLHp� }?� oeRJ� ?oFGKGCm� O?RUWJ@� KB?E?@p?oDELFRGCm�OeRG@GEL@Jp�Km\RJDI�B?TNLWRJFm�DMGCJ'�_e|G�oLQLE?NBJORLKmF�@?|CL�o�CLFGDEJp�LRG�N?�N?EB\DmCC\Hp�\Om�\�NGBG|JFpN?�DEBL�C?@e�Q?R?Kmp�o?\H�m�N?BLCGCCUp�oLQLE?�F�@?�S�Q?R?FmNBJTLoeR?D\'�2J�e�Mm�DN?@JCJp�CLWG�D?C'

U�o�����W�t���

4EBmRGMEF?�CL�Gp�CL�NBGFGRJOG�KJF?p�EBJ@LR?D\�Ke|G�K?oBG'0BGoL�TCLEJp�}?�N?R?FJCe�S?Q?�DELC?FJRJ�CGNJDI@GCCm�HR?NMmp\Om�F�D?ECm�}?SC?�CLFWJRJD\�NJDLEJ�S�FJH?FLRJD\'�XmRI�mDEIDEBmRIMmF�*� @?R?Km� UCLOJp� N?� �mDECLKM\EIp� Dm@CLKM\EI� mFmDm@CLKM\EI� B?OmF'� 1Wm� FDmH� oeRJ� TFGBCGCm� CL� O?@LCKJBL'4EBmRIMm�FmBJRJ�F�CI?Q?p�TCLUWJp�}?�FmC��H�FJFGKGp�LRG�eDmH�CLDKJFeFLR?p�W?@e�CG@L�|?KCJH�CLOLTmF�TQ?BJ'�/G@OJ�CG�H?EmRJo?\EJD\�F?B?QLp�H?W�FmC�oeF�EJD\WGOBLEC?�DJRICm�JS'�6?|GCToJBLF�L@eCmMmU� m� Q?EeFLFD\�K?�o?U'�<Dm�OLTLRJg��X?Q�CG�oGT@JR?DEJp�O?TLO�CG�oGT�K?Rm�'

1KC?Q?�BLTe�NmKmS�?F�K?�@GCG�O?@LCKJB�EL�S�OL|Gg��:e}?�|p� DELBJS� KBeT\O?p� oeKG� FmSCL�'� 8� \p� \O� TFJWLSC?p� @GCmE?Km�oeR?�?KCLO?F?p�FmKN?FmFg��XL�WG@�|G�Cfp�oeKG@�Dm�NBLEJ�'2?Q?F?BJRJ�@J�ELO�D?om�NB?�KLFCm�WLDJp�NB?�CGFmK?@G�@LSoeECfEL� S� B?TmS�RJDI'� 6?@LCKJB� RUoJF� @GCG� E?@ep� }?� \� oeFFmKFL|CJSp�FGDGRJSp�L�DF?�@J�NmDC\@J�B?TFGDGR\F�DEBmRGMEF?'

U�o���W�n�������W����oW��X� i�

2GB�L�W?EL�OjBL�bBLC\�KmDELRL�OmRIOL�DmRp�KG�@LRL�ToJBLEJFDGp�}?�CL@�N?EBmoC?'��?C?Wm�@J�NmKDeFLRJD\�K?�DmR�2BGReOp_e�LEJCL� m� 0eBJCDIO?Q?p� H?W� EL@� OFLBEJBeFLRJ� N?R\OJ� m

��q

FJOBLKLRJ�BG�EOJ�Tom||\�T�D@mEE\@p�omo�m�oLBLo?RU'�6?|GC�TCLD�B?oJEI�TLNLDJ�KeQLCe'�<�RmDm�ELO?|�oe�ef�F?B?Qp�NGBGFL|C?N?�OBL\H'��?�EmRIOJ�FJCGDG@?�K?�RmDep�L�F|G�FKGCI�F?B?Q�TCLSKG'=eDJ@?�CGDEJ�F�QRJoJCe�m�FmKBLTe�H?FLEJ�m�@LDOeFLEJ'

PL�E?S�WLD�CL�O?@LCKJBLp�O?RJ�FmC�NJDLF�TFmEJ�F�O?RJomQGC'� 2GBGoJSC?DLp� CLDO?WJRJ� N?R\OJp� LRG� FmC� }LDRJF?NB?BFLFD\'

_BeQL�W?EL�OjBL�1BmHL�FJOBLRL�F�N?R\OmF�e�0JD?FMm�OmRIOL�EeO�HeK?oJ�Ke|G�D@m�CJ@�DN?D?o?@'�:L�m�DEG|m�Ke|G�WLDE?TeDEBmWLUEID\� T� F?B?Q?@� m� NGBGDEBmRUUEID\'� 6jB� _eC\� mOjB�XLSBLO�T�DF?�@J�W?EL@J�TFGRJ�FGRJOJS�omS�F�RmDLH�7GNGKI*�2BJoJ�mF'�5�CLD�oeR?�OmRIOL�eoJEJHp�L�F?B?Q�@LF�q��eoJEJH'2?R\OmF�CLDEeNLR?�ELO�oLQLE?p�}?�BLT?@�T�CL�J@J�HR?NM\@J�FmKDEeNLRJ��KJOJ�m�?RGCm'

U���X��������x��X

q.� EBLFC\�N?RIDIOG� FmSDIO?� WJDR?@�O?R?� Z�� ���� ?E?WJR?FGRJOJS�@LDJF�ABG}LELp�NBJ�DNmFKm��FDmH�B?KmF�ToB?�p�?O?NLR?D\OmRIO?@L�RmCm\@J�m�N?WLR?�CLDEeN�T�eDmH�DE?BmC'�d?EJ�DJNLCeRJF?QCG@� mp� E?@e�}?�N?\FJRJD\� RmELOJp� N?WLRJ�@LCGFBeFLEJ�N?RmDe'�0eE�O?@LCKJB?Fm�eKLR?D\�FJFGDEJ�T�?E?WGCC\�KFm�W?EJ� mQBeNe�EGBGC?FJOmF�m�NB?BFLEJD\�F�XGDOJK�K?�DGRL�XLRICJMm'�<RmDm�oeR?�Ke|G�oLQLE?�F?B?|JH�QBeNp�NGBGFL|C?�o?RI�GFJOmF'

6jB� 4ELH� oeF� ?E?WGCJS� T� NGB�?U� W?E?U� m� @eDmFNB?BJFLEJD\p�@LUWJ�Z�eoJEJH�m�.�BLCGCJH'

P�QBeNJ�OjBL�ABmCL�FmKReWJFD\�BLCGCJS�DEBmRGMIjB?TFmKLW2GEBJO'� <mC� @LF� q[� B?OmF� m� oeF� fKJC?U� KJEJC?U� F� D?ECm'� `TCLS�?F� S?Q?� NmTCm�G� F� DELB?@e� @mDMm� N?DE?U� D?ECmp� F|GCG|JF?Q?'�2mK�Q?R?F?U�F�CI?Q?�oeRJ�CLomSCJMmp�F�?omS@LH�OBmDpL� F� OJ�GCm� EBJ� DJBm� oLBLo?Rm'�aO?KeFLRJ� TL� CJ@� DEBmRIMm� mO?@LCKJBJ'�5�OjBL�4ELHL�TLQJCeF�W?E'�PGCO?��T�PLQ?WGF+\�'

�Wm�'W��'

2GBGSEJ�CL�4R?FLWWJCe�oeR?�FL|O?p�o?�CL�O?BK?Cm�oeR??O?NLCG� WGDIOG� FmSDIO?'� 6?@LCKJB� CLOLTLF� @mCGBL@� TCLSEJFmKN?FmKCm�DEG|OJ�m�TLFGDEJ�CL�e�QBeNe�@m|�@mCJ'�aEeOL�CL@FKLRLD\'�PLNHLRJDI�@J�F�ELOG�@mDMGp�}?�S�W?BE�K?�CLD�CG�TLRmTG'

��.

0GBGC� TL@mC?FLCJS� EeE� ELO� DEBL�C?p� }?� CmHE?� CG� @?|GB?T@mCeFLEJ'� ^� EeE� GD@mCJp� BG�GRI@mCJp� EGRGB@mCJp� N?E\Q?Fm@mCJp� m�FDG�MG�N?F+\TLCG�BmTCJ@J�KB?EL@J'�<�ELOG�CGNB?HmKCG@mDMG�@?QRJ� TLSEJ� EmRIOJ� eOBL�CDIOm� N?FDELCMm'� `� TQ?R?DJFD\?H?ECJO?@� K?� O?@LCKJBL� mEJ� T� DF?�@� B?f@� N?� oLBLo?RU� K?XLRICJMm'�:G�ELO�F|G��DEJ�H?WGEID\p�\O�TLOeBJEJ'�dGS�|G�KGDIEL@� CL� Q?BJ}m� TCLSKe� \OG� oJRR\� KeQLCe� �oLOeC�'�=J� EmRIOJNmKDeCeRJD\p�L� EeE�F�DGRm�NDJ�\O�TLWLRJ�oBGHLEJp�CLWG� �H�HE?CLSC\F'� d?BE� T� FL@J'� `� DH?NJF� ?KC?Q?� TL� RLCMUQ� m� BLT?@� ToeK?U�TLCmD�K?�DELSCm'�AR?NMm�FN?BLRJD\�T�mC�J@J�NDL@Jp�m�@JF|G� Q?E?Fm'� P� E\|OJ@� EBeK?@� FmK�eOLRJ� N?� FmKBe� oLBLo?RmpEB?HJ�KeQLCe� m� N?WLRJ� ToJBLEJ�oLCOJ� T�O?CDGBFmFp�}?o�oeR?WJ@�o?KLS�CLNJEJD\�F�K?B?Tm'�:L�O?BK?Cm�WGHJ�NLR\EI�}?�DE?@GEBmF�F?Q?CI'�0mRIOJ�@J�OmCWJRJ�B?o?Eep�L�F|G�SKG�N?RIDIOLOmCC?EL�T�=LCI?FL'�`�@LF�?H?Ee�?oDEBmR\EJ��Hp�LRG�o?\FD\p�}?oCG� N?NDeFLEJ� NR\CmF� O?@LCKJBL'� 6?@LCKJB� CLOLTLF� DNGOEJoLBLo?RI� CL� K?B?Qep� o?� SKG@?� CL�4R?FLWWJCep� KG� CG� FmRIC?oeKG�?BQLCmTeFLEJ�HLBWmF'�=eDJ@?�\O?DI�FmKF+\TLEJD\�FmK�F?B?QLm�TQeoJEJ�DRmK'�:LK�BLC?Op�e�HFJRJCep�O?RJ�NBJH?KJRL�WGDIOLT@mCL�CL�O?BK?Cp�@J�NB?OBLRJD\�N?@m|�@mCL@J�CL�4R?FLWWJCe'

"� ���� ���'��oW���n���W

<� 4R?FLWWJCe� @J� Nm�RJ� CLDRmN?'� 6?@LCKJB� FmF� TLK?N?@?Q?U� O?@NLDL'� <� RmDLH� ELo?BeUEI� WGDIOm� FmSDIOLp� m� @JNGB�e�CmW�ELo?BeFLRJ�omR\�WGDIO?Q?�FmSDIO?F?Q?�ELo?Be'�1ELORG|LWJ�D?om�CL�TG@Rmp�KJFRUD\�CL�CGo?�EL�S�Ke@LUp�}?�5OBL�CLELOL�FGRJOLp�L�KR\�CG��CL�CmS�CG@Lf�@mDM\'�deUp�\O�Q?F?B\EI�FELo?Bm�WGHJp�L�K?�@?Q?�CG}LDC?Q?�C?DL�KmS�?F�TLNLH��OFLB?O�mMJQLB?O'� �:LS� EGoG� \DCJS� KmKIO?� FmTI@G�'�1DI� FmTI@e� BmS� ELTLBLT� B?T|GCe� OCJKR\BmFp� L� E?Km� oeKG� DFm|L� �|Lp� O?CDGBFJ� mMJQLBOJ'�>Ke�K?��DELB?Q?�'�8RG�O?@LCKJBp�H?W�DL@�@LF�?H?Ee�MGTB?oJEJp�DOLTLFg��:G�@Lf@?�EeE�EGBGCep�CG�@Lf@?�OLBEJp�oeKGTL�CL@J�N?Q?C\�'

7LC?�Nm�RJ�KLRm'�0eE�DFmE�FGDGRm�JS'�deEJ�DNmFJ�NLDEeHmFpOBJOJ� RmD?FJH� B?omECJOmF'�=eDJ@?� H?FLEJD\� FmK� MJFmRIC?Q?CLDGRGCC\p�mEJ�oGT�DRmKmFp�L�}?�CLSQmB�G�*�CG@L�}?��DEJ'�0LOm�RJ�@J�EBJ�K?oJ'�4EBmRIMm�FDm�N?DRLoRJ'�P�E\|OJ@�EBeK?@�@JNGBGS�RJ�N?@m|�DR?FLMIOJ@J�DGRL@Jp�F�\OJH�DE?\RJ��LBCmT?CJp

���

NGBGNBLFJRJD\�WGBGT�O?BK?C�omR\�DGRL�7eDIOG�m�BG�EOL@J�DJRKmS�RJ�K?�DGRL�2BJDRmN'�PL�Em�EBJ�K?oJ�@J�TB?oJRJ�O?R?�q[�OmR?@GEBmF'

���o������� ty����x��X

0eE�@J�FmKN?WJRJ�EBJ�KCmp�EB?HJ�NmKOBmNJRJD\�oLBLo?RGU'2GBGK�FmKH?K?@�O?@LCKJB�FJQ?R?DJF�K?�DEBmRIMmF�NB?@?Fe'�7e�Cep\Oe�@J�N?oLWJRJ�F�DGRm�2BJDRmNmp�CG�@?|e�K?�DI?Q?KCm�TLoeEJ'=BmU�EmRIOJp�}?o�b?DN?KI�K?TF?RJF�@GCm�}G�BLT�NmEJ�F�B\KLHBmKC?�� LB@m�� CL� /G@OmF}JCe� QB?@JEJ� F?B?QL� TL� MG�|LHRJFGFJDGRGCC\'�7e�Lf@?�F�K?B?Qe'�7?oJ@?�TLDmKOe�CL�FeTIO?E?BmFMmpLRG� F?B?Q� CG� NB?H?KJF'� 6?R?� DGRL� 4EBeo?FJDIO� @mCef@?Q?DEJCGMIp� L� CL� KBeQJS� KGCI� FJRmELf� F� N?FmEB\� LFE?� T�K?@?OBLKL@J�'

R� ��������

.Y�EBLFC\�F�@LDJFm�/?NmCCJO�O?R?�XeOL�CLD�?E?WJR?������N?RIDIO?Q?� FmSDIOL'� 2mFKC\� @J� R\FmBeFLRJp� L� N?Em@� TLSC\RJ?o?B?CCm� DELC?FJ}L'�6?RJ� F?B?Q� N?WLF�CLoRJ|LEJD\� K?�CLDpO?@LCKJB� DOLTLFp� }?� @J� NmKG@?� F� CLDEeN� CL� NB?BJF'�=JNB?BFG@?D\p�L�BG�EL�NmKG�TL�CL@Jp�\O�EBGoL'�6?@LCKJB�CL��*HJEBeC'�:LOLTLF�NmKDeFLEJD\�EJHGCIO?p�Qe}LOL@Jp�\OCLSoRJ|WGF?B?QLg�FKLBJ@?�m�NmKG@?'�>�TC?Fe�RGQOL�BeOL'�0BLNR\f@?�DL@G�F@LRGCIOJS� NB?HmKp� O?RJ� F?B?Q� OBJWLFg� �5FLQL'�=LB�eFLEJNBLF?BeW�'� 6?@LCKJB� MG� NmKDReHLFp� m� @J� NB?BFLRJD\� N?FTN?RIDIOG�RmFG�OBJR?'

U�o����� tp

�G� TL� KC\p� o?� FC?Wm� @?|G� oeEJ� ?oDELFRGCJS� Q?DEJCGMI0mDCL�*� XLRJQ?B?Kp� N?E?O?@� N?NmK� @?DE?@� @J� NB?S�RJ� FABG}LEe'�8�EeE�BLC?�N?oLWJRJ�MmOLFm�BGWm'�5Dm�O?@J�mp�EBLFJp\RmFMmp� Qe}LOJp� @mDM\@J� RmD�*� DNLRGCm'� 4OBmTI� N?FC?� K?BmQpDEG|?O�m�EJD\Wm�?O?NmF'�PG@R\�T?BLCL�LFE?@L�JCL@Jp�ELCOL@JpQLB@LEL@Jp� DOBmTI� N?FC?� OeRG@GECJH� QCmTKp� @mC?@GECJH� \@pLBEJRGBmSDIOJH�DELC?FJ}p�L�omR\�CJH�\@J�CL�LFEL�T�L@eCmMmfU'=J�FDm�H?KJRJ�m�?QR\KLRJ�F?B?|m�RmCm�p�o?�DNBLFL�CG�\OLjoeKI'

��Z

6?|CJS�EmRIOJ�OJFLf�Q?R?F?U�EL�S�OL|Gg��8RG�@LRJDI@?�}LDE\p}LDE\'''�

PCLH?KJ@?�MmRm�DE?DJ�RGEUW?Og��_?�ToLRL@eM?CJH�WR?COe~528�p��_?�@fSDM?FGS�RUKC?DIMm��m�mC�m'�4OBmTI�FLR\fEID\�NBGDLm�|eBCLRJp�L�EL@�BGN?BEL|mg��T�N?ReKCI?F?jFDH?KCmH�?NGBLMmS�'b?DN?KJp� DRLFL� 0?omp� Ke@LU� D?om'�:LKLB@L� CL�� EBeK� CG� SKG'4FmE� TCLf� NB?�CL�e� o?B?EIoe'�6?RJ�@J�Nm�RJ� F|G� KLRmp� CLK_e�LEJCDIOG�?TGB?p�EL@�T+fKCLRJD\�T�OjB?@�4ELH?@p�L�DEBmRIMmN?NBJC?DJRJ�BmTCm�OLBEOJ�T�D@GBECJ@J�FJB?OL@Jp�N?QB?TL@JpNJDLCm�B?DmSDIO?U�Lo?�RL@LC?U�N?RIDIO?U�@?F?U'

1N?FmKLUEI� D?om� O?@LCKJBJp� CG� KLB@eUEI� m� DEBmRIMm'� <DmF?CJ� @LUEI� oLQLE?� ?N?FmDEJ� m� ?o@mC\EJD\� Ke@OL@J'� P� D?ECmFJH?K\EI�B?TFmKOJ�K?�6?@LCWmp�/eO?F?Q?p�PLQ?WGF+\p�=?OB?Q?p<mRIH?F?�p�KG�OFLBEJBef�FmSDIO?'�4EBmRIMm�NBJC?D\EI�Ke|G�oLQLE?C?FJC�m�NB?}LRICm�RJDEJ�K?�O?@LCKJBL�m�F?\OmF'�2BJfKCefEID\DEB'� de@LOp� S?Q?� NBJFGRL�|LCKLB@GBm\p� o?� F|G� CG�@LF� DJRJmEJ'�<mCp�?E?WGCJS�N?R\OL@Jp�KGF+\EI�KCmF�CmW?Q?�CG��F'�:GFK?FTmK?ReWJRJDI�K?�CLD�W?EJ�OjBL�_eCm�m�OjBL�XLSBLOL'�<?CJ�ELO?|pomKLOJp�NGBG|JRJ�oLQLE?'�6?RJ�TmoBLR?D\�FDG�oBLEDEF?p�DELR?FGDGRm�G�m�WLD�NB?H?KJF��FJK�G'�A?W�NmTCmSp�LRG�QLBCJS�MI?Q?B?Oe�EBLFGCI'�bLBC?�DFmEJEI�D?CGWO?p�DNmFLUEI�NEL�OJp�OeUEIT?TeRm'� :L@� DNmFLEJ� CG� FmRIC?'� :LFmEI� TLo?B?CGC?� Q?R?DC?Q?F?BJEJp�o?�F?B?Q�Ke|G�WLDE?�FmKFmKef�CL�e�ABG}LEe'

2GB�?Q?� WGBFC\� Y���� N?RIDIO?Q?� FmSDIOL� TB?oJR?� TC?FeFGRJOe�?oRLFep�LRG�CLD�CG�TCLS�R?'�<?Q?CI�@J�K?oeFLf@?�EGNGBOBGDLR?@�Lo?�EBG@?�KB?E?@�KGBGF?�ELO�K?FQ?p�N?OJ�B?TNGWGEID\pm� E?Km� CJ@� B?TNLRUf@?� N?B?H'� 1K\Q� N?NBLFR\f@?� RLHL@JpTCLSKGCJ@J�F�DGRm'�2?R?FJCL�DEBmRIMmF�F|G�H?KJEI�o?DLOL'

^KJCL� CL�L� N?|JFL�*�OLBE?NR\'�=J� ��� BmTC?� CLTJFLRJgoLCKeBOJp��FLoJp�O?@NRmp�oeRmp�QBeRm�*�MG�ELO�CL�T@mCep�CmoJ�FCLD�oeRL�BmTCL�DEBLFL'�4EBmRIMm�T�CG��CLFWJRJD\�FLBJEJ�BmTCmN?EBLFJ'� 2GORJp� FLBJRJp� D@L|JRJp� NGORJ� NR\MOJ� T� EGBE?�oLBLo?Rmp� QLRe�OJ� m�WJB'�:LSD@LWCm�Lp�?KCLOp� �|L�T�oLBLo?Rm*�MG��DRmNm�NJB?QJjDEeRICJOJ�p�\Om�@Jp�CL�NBGFGRJOe�BLKmDEIp@?QRJ�@LDEJEJ� D?D?@� T� @+\DJFLp� \OG� N?KLBeFLF� CL@� DEBmRGMIbBeCIp� eoJF�J� KJOL'� 2mKmS�?F� oeCWe|CJS� EL� DF?�@NGBG@JDIOJ@�CLBmWW\@�N?WLF�DFLBJEJD\p�W?@e�e�CLD�ELO�Q?R?DC?g�`�FmK|ep�|J�FL@�Dm�KeoBL�N?F?KJE'�<J�ELOm��KeBCm��CGFWLCm�p�|JDJ�DNBLFJ�CJ�TKLfEJ�'�8RG�O?RJ�@J�N?NB?DJRJ�S?Q?�DmKLEJ�K?

��[

CL�JH�NJB?QmFp�FmC�NGBGDELF�DFLBJEJD\p�L�\�N?EJHGCIOe�N?WLFDNmFLEJ�eRUoRGCe�NmDCU�oeCW'�2BJDNmFLp�\Oe�FmC�BLT�DNmFLF�CL<?Rm�=mH?FmS� DF?�@� CLBmWW\@'��G� E?@ep�}?� FmC� WLD?@� RUoJFN?D@m\EJD\�T�RG@OmFDIO?Q?�Q?F?Beg

������ �/'����&���/_������.��&'�&�����/_��� ��!�.&&'� ������R���&����� �L� �&��

4EBmRIMm�}JB?�B?TD@m\RJD\p�L�oeCWe|CJSp�BLK�CG�BLKp�F|GELO?|� eD@mHCeFD\'

Y�Xn ������X��������x��X

q��WGBFC\�F?B?Q�F�DJRm�q[����p�Q?C\WJDI�TL�OjB?@�bB?@GCO?@p?E?WJF� CL�e� ABG}LEe� S� N?WLF� CLDEeN'� =J� FJS�RJ� CLDELC?FJ}L'�̀ �FJDRLF�DEBmRIMmF�N?FmK?@JEJ�@mDMGFJH�EGBGC?FJOmFp}?o� K?ReWJRJD\� K?� CLDp� o?� SKG� F?B?Q'�1KCLO� F?CJ� o?\RJD\SEJ�K?�CLDp�o?�OLTLRJp�}?�TLBLT�@J�N?WCG@?�omSp�m�F?CJ�F?RmUEI�OBL}G�NGBGDJKmEJ�CL�KGBGFLH�'�_G�EmRIOJ�NBJSKG�EGNGB�D?EC\pEGBGC?FJOJ�FmK�CLD�eEmOLUEIp�}?o�CG�N?CUHLEJ�N?B?He'

4I?Q?KCm�TC?Fe�WeK?@�FJ@JCLf@?�F?B?QLg�E?�TLR\QLf@?p�E?N?FTG@� Lo?� NGBGomQLf@?'� _GDI� NGBGK� N?ReKCG@� NmKDReHef@?B?T@?Fe�@m|�O?@LCKJB?@�N?ROe�m�O?@LCKJB?@�?NGBLEJFCJH�KmSWGBGT�BLKm?'�5FGW?Bm�TC?Fe�DeEJWOL�T�F?B?Q?@�CL�Q?Bm�@m|�DGRL@J=JO?F?@�m�4@mRICJO?@'��?SC?�?NmFC?Wm�NB?BJFLf@?D\�DOGR\@JN?CLK�7\oG�CL��GBoLCmFOe'�PL�CL@J�BLCO?@�mKG�F�N?Q?CU�?KJCN?ROp�LRG�@J�F?KJ@?�KeBCJH�N?R\OmF�TL�D?o?Up�\O�@eKBJS�QeDLOKeBCm� QeDJ'�2GBGH?KJ@?�Q?Be�=LEBLQ?Cep�BmWOe�4?RJCOep� Q?Beb?BR\EL'�:L� NBGFGRJOe� BLKmDEIp� FmDE'� <?K\CJO� FmKCLS�?F� ?KCeNJFCJMU�T�oLBLo?RGU�m�OmRIOL�DELBJH�oR\�LCJH�oLC\OmF'�=J�\ONBJNLRJ�K?�Emf��oLBLo?Rmp�E?�TL�?KCe�CmW�T+�RJ����MGCECGBmF'�A?W\O�CL�RJD\�Emf��oLBLo?Rmp�L�FDG�|�ELOJ�FmKWeFLfEID\�Q?R?K'�6?RJSKG@?�FQ?Bep�T�?DRLoRGCC\�NmE�TLRJFLfp�EG@Cmf�F�?WLH�m�@RmUEIC?QJ'�6?|CJS�CLNmO�D?om�EGBE\CJOmFp�}?o�@LEJ�TLRmTCe�N?BMmU'

<|G�FGW?BmR?p�\O�@J�NBJE\QCeRJD\�K?�DELB?Q?�NBJDELC?FJj}L'�<JE\QLf@?�|?BCLp�NeDOLf@?�@L�JCe�F�BeH�m�@GRG@?�DEeHRJS?FGD�CL�@eOe�K?�OLBE?NR\C?Q?�WJBe'

��Y

��r�t� ���X�

5@?FJ� CL�?Q?�|JEE\� oeRJ� E\|Om'� <� ELOJH� ?oDELFJCLHTLF|KJ� TCLSKGEID\� DLELCL'� :G}LDRJFJS� LCLBHmDE��eNLON?WJCLf�TC?Fe��JBJEJ�CGFK?F?RGCC\�@m|�DEBmRIM\@J'�7?S?FmTLBLT�N?FmK?@JRJ�O?@LCKJBL�m�FCGDRJ�NB?N?TJMmUp�}?o�S?Q?B?TDEBmR\EJ'� 1KCLO� O?@LCKJB� DOLTLFp� }?� B?TDEBmR� @?|GN?QLC?� FNRJCeEJ� CL� DEBmRIMmFp� L� OBL}Gp� }?o� @J� TB?oJRJO?TLMIOJS�DeK'�PmS�R?D\�CLD�E?Km�qq�B?S?FJH'�=J�FJCGDRJN?DELC?Fe�N?OLBLEJ�S?Q?� ��� oeOL@J'�6?|CJS�B?S?FJS�oJFN?�OmRIOLp�}?o�FmC�oLWJFp�}?�@J�FDm�NR\@ef@?�S?Q?�N?FGKmCOe'6?RJ� FmC� MG� N?oLWJFp� N?WLF� NBJBmOLEJp� }?� MG� omRI�G� CGN?FE?BJEID\'

���W���� r3v�����p

5FGW?Bm� q[� WGBFC\� CL�L� DEmSOL� TLNBJ@mEJRLp� \O� OmRIOLDEBmRIMmF�NmKDeFLR?D\�K?�KF?H�HLE�O?R?�DGRL�4EBeo?FJDIO'�0eKJNm�RL�CL�L�|LCKLB@GBm\p�KG�TF+\TLRLD\�T�DEBmRIM\@J�OjBL�X?BL'

4I?Q?KCm�N?WLF�NLKLEJ�Ke|G�DJRICJS�K?}'�5�CLD�CmHE?�CG@LF�NLRLEOJ'�7?TNLRJEJ�F?QCJ}L�CG�FmRIC?p�o?�DOBmTI�OBeE\EID\F?B?|m�QBeNJ'�XLBLo?Rm�e|G�CmKG�CG@Lp�L��DEJ�H?WGEID\�L|�QGS':L�KBeQJS�KGCIp�H?W�NLKLf�K?}p�FDm�@Jp�@?OBm�K?�CJEOJp�ToJBLf@?DeCJMmp� OFLD?Op�}?o� EJ@� NBJQLDJEJ� Q?R?K'�2mDR\� N?ReKC\�@JK?ReWJRJD\� K?� D?ECm� OjBL� X?BL'� _?}� RRf� KLRm'� 4EBmRIMm� @m|D?o?U� N?WLRJ� B?T@?Fep�}?� TLBLT� oeKeEI� EBJ� D?EGCCm�}?DIFL|RJFG�BLKJEJ'�>�KmSDC?p�CLBLKJ�DI?Q?KCm�EBJFLRJ�KGCI�m�MmReCmW'�7LC?�XGDOJK�?E?WJR?�OmRIOL�EJD\W�N?RIDIO?Q?�FmSDIOL'�1njmS�Q?KJCm�BLCOe�KmS�R?�K?�o?U�T�F?B?Q?@'�8RG�CL�L�TLDELFL�TOmRIO?H� OeRG@GEmF� ELO� N?HBGDEJRL� �BJMG|J�p� }?� F?CJpTLRJ�JF�J� CL� N?Rm� o?U� OmRIO?H� eoJEJHp� FmKDEeNJRJ'��mRJSCL��OeBmCI�N?KLFD\�F�CLNB\@m�O?BK?Ce'�PLLR\B@?FLCm�Q?R?FCmDJRJ�N?RIDIO?Q?�FmSDIOL�F�0mDCmSp�XLRJQ?B?Kmp�_?F|JMmp�<GERJCmm� 5DEBmOLH� b?Bm�CmH� N?WLRJ� LFE?@L�JCL@J� NmK+�|K|LEJ� FmKNmFC?Wm�XGDOJKep�FmK�TLH?Ke�F�CLNB\@m�DGRL�7?TE?OJp�L�ELO?|N?�HLRJ�CL�4R?FLWWJCe'�:L�O?BK?Cm�@J�TLSC\RJ�DELC?FJ}L'�PEBI?H�o?OmF�NmKmS�RJ�N?R\OJp�L�TTLKe�N?OLTLRLD\�D?EC\�WGHmF'6?@LCKJBJ�eHFLRJRJ�SEJ�CLDEeN?@�CL�CJH'�0mRIOJ�@J�N?WLRJomQEJ�CL�WGHmFp�\O�F?CJ�F�NLCmMm�N?FEmOLRJ'

��n

]W��r��n��X

4EBL�CJ@J�FGBEGNL@J�DR?FLMIOJ@�o?O?@�@J�Nm�RJ�N?CLKDGR?@�7eDIOJ@'�2mK�?KCmfU�oGTRmDC?U�Q?B?Up�}?�CL� ��� FGBHeNLDRJD\� O?B?FJp� @J� N?WeRJ� NmK?TBmRm� DNmFJ� NLDEeHmF'� :L�O?@LCKJB�FmKBLTe�N?KLF�N?�RmCm�g��5FL|LEJp�MG�NB?F?OLMm\'�<?B?QoeKG�CL�Q?Bm�'

6?RJ� FNLF� NGB�JS� WGDIOJS� N?DEBmRp� D?EC\� OjBL� XmBLFmKDEeNJRLp�L�CL��O?@LCKJB�N?oLWJFp�}?�DJEeLMm\�CGoGTNGWCLpOBJOCeFg� �AR?NMmp� F� CLDEeN�� <?Q?CI�� 4FJDELEJ�� 6BJWLEJ�1DEB?FGBHp�FNGBGK��_eC\p�DNBLFL�CLDEeNLEJ���*�m�@J�Nm�RJ�FCLDEeN'�2?�O?B?EOm@p�TLFT\Em@�o?U�@J�TK?oeRJ�Q?Bep�B?ToJRJWGHmF� m� N?KLRJD\� TC?Fe� K?� O?BK?Ce'� 0eE� T+fKCLRJD\� TOjB?@�X?B?@p�TL�O?EBJ@�e|G�QCLR?�OmRIOLD?E�N?R\OmF'�4ELC?FJ}GDELR?�Ke|G�OBJEJWCJ@'�:LFO?R?�FGRJOm�F?B?|m�DJRJ'�>KG@?�CL4R?FLWWJCe'�2?�K?B?Tm�@Rmf�D?E'�<?R\p�DEBmRIMm�CGDeEI�S?Q?p�L@mCGBJ�TL@mC?FeUEI�O?BK?C'�<?B?Q�QCLFD\�OmRIOL�OmR?@GEBmF�TLCL@Jp�L�FJS�?F�J�CL�@mCJp�TeNJCJFD\'

U������i��W�

=J� S�RJ� HBGoE?@� <GRIOm� XeO?FGM'� `OJH� EBJjW?EJBJOmR?@GEBJ�CL�NGBG�O?Km�DELF�F?B?|JS�oeCOGBp�F�\O?@e�oeR?.[� F?\OmF'�=LRJ� F?CJ� W?EJBJ� OeRG@GEJ� m� BLKm?'�=J� EB?HJNm�RJ�o?O?@p� m�N?�K?B?Tm�OjB�1BmHp�FmDE'��eOL� m�FmDE'�=CUHTR?FJRJ� KF?H� DR?FLOmF� T� E?Q?� oeCOGBe'� 0?@e�}?� EeE� oeRJCLFO?R?�TL@mC?FLCm�RmDJp��H�TLoBLRJ�O?@LCKJBJ�CL�NB?FmKCJOmF'_?� q.j?�� Q?KJCJ� FC?Wm� NB?FGRJ� DRmKDEF?p� L� N?Em@� eBLKJRJD\TFmRICJEJ��H�TL�KFm�Q?KJCJ�NGBGK�FmK@LB�G@'�4EBmRIMm�B?TNLRJRJF?QCJ}L� m� De�JRJ� CL� D?om� ?K\Q'� 1� q.jmS� Q?KJCm� TFmRICGC?DR?FLOmFp� FmKKLC?�ToB?Up�L�?�.jmS� Q?KJCm�@J�@LRJ�FmKH?KJEJ'dLD�oeF�ELO�?oBLH?FLCJSp�}?�WGHJ�CL�KBeQe�Q?KJCep�H?W�oJTBLKJRJp� CG� @?QRJ� NBJSEJ'� 0J@� WLD?@� W?E'� _?FQJSp�}?� oeFmCDNGOMmSCJ@p� TL@mDEI� ?Q?R?DJEJ� Q?E?FCmDEI� K?� FmK@LB�e� ?.jmS�Q?KJCmp�?Q?R?DJF�?�Q?KJCm�.'��'�4L@G�@J�N?WLRJ�TF?KJEJD\pL�CLD�?oDEBmR\RJ�OeRG@GECJ@�F?QCG@�WGHJ'�=J��@�EG|�FmKN?FmRJDJRICJ@�F?QCG@p�m�F?CJ�N?FEmOLRJ'�8�F�NR\C?FLC?@e�CLNB\@mFmKH?KJEJ� oeR?� F|G� TLNmTC?p� E?@e� @J� FmKDEeNJRJ� CLTLK� K?O?BK?Ce'

��w

0eE�@J�@LRJ�KF?H�eoJEJHg�DEB'�bLRJW�m�DEB'��FmBOeCp�NB?NLFoGTFmDEJ� OeR'�4?FLp� oeRJ� N?BLCGCm� OjB� XmBp� DE'� FmDE'�1Bm�?OpFmDE'�1D?OL�m�FmDE'�>FLDJO'

<mDE'� >FLDJOp� N?BLCGCJS� e� QBeKJp� FJ\FJF� CGTFJWLSCeEGBNGRJFmDEI� m� TLFT\EE\'� <mC� MmRJS� WLD� m�?F� DL@p� L� NmTCm�GNGBG|JFLF�Ke|G�DEBL�Cm�mDE?Bm�'�0LOp�H?K\WJp�FmC�FJRmOeFLFD\'

{�� ��� ������ x�

4RmK?@�TL�CL@J�SKG�WGDIOG�FmSDIO?'�:L�O?BK?Cm�FJKC?p�\O?O?NeUEID\�N?R\OJ'�6?@LCKeFLCC\�CLK�MmRJ@�OeBGCG@�NGBGoBLFOjB� ABmC'� 6?@LCKJB� KLF� CLOLT� N?� RmCm�g� �PomBCJS� NeCOE�*ABG}LEL'� 4LCmELBJ� omR\� BLCGCJH'� 2BJQ?EeFLEJD\� K?� o?U'6RJWOLg�4ELRmC�*� DFJC\'�2GB�?U�@LB�ef� D?EC\� OjBL� X?BLpKBeQL�*�@?\p� EBGE\�*�4ELHL'� 5FL|LEJ� CL� @mCJ'�:G� RJ�LEJDRmKmF�'

2?R\OJ�CG�TCLUEIp�HE?�@J'�6?RJ�CLR\QRL�@B\OLp�@J�N?WLRJDH?KJEJ� DOGR\@J� WGBGT� QRJo?Om� }mRJCJp� FJD?Oe� OB?NJFe� mNmKDeCeRJD\�F�CGDN?KmFLC?@e�@mDMm�CL�O?BK?Cp�CGKLRGO?� Q?BJd?R?� m� AJ|OJ� CLK�4OLR?U'�2?OJ�}?� OeBmCI� NGBGDeFLfEID\WGBGT�O?BK?C�oGT�o?U'

6?RJ� N?WLF� NGBGH?KJEJ� @mS� BmSp� CL� @GCG� FNLRJ� T� KF?HDE?BmC� N?DEBmRJ'� `� N?WLF� oJEJDIp� LRG� F� o?U� QJCG� @mSOeR'� FmDE'� XJDEBJM\p� DE'� FmDE'� `B?DRLFp� L� \� oeF� N?BLCGCJSOeRG@GEC?U� WGBQ?U� F� RmO?EI'� 6?@LCKJB�}G� T� KF?@L� B?\@JFmKoJFLF�F?B?QL'�4?EC\�OjBL�X?BL�Nm�RL�FNGBGKp�L�CL�L�WLDEJCLRJ�JRLD\�CL�DR?FLMIO?@e�o?Mm'�5EBJ@LEJD\�CG�oeR?�DJRJp�o?F?B?Q� oJF� mT� oeCOGBmF'� `� NmKomQ�}G� OmRIOL� OB?OmF� m� FNLF�@m|DOGR\@J� T� ?DRLoRGCC\'� `O� K?FQ?� RG|LFp� CG� TCLU'� 6?RJ?NBJE?@CmFp�omR\�@GCG�CG�oeR?�CmO?Q?'�`�DL@�NGBGF+\TLF�D?omBeOep�EBJ@LUWJ�CLN?Q?E?Fm�O?HLCe��NLNLKI?�Oe�'�2?EJHGCIOeNmKDeFLUD\�K?�O?BK?Ce'�0eE�om|JEI�K?�@GCG�WGDIOJS�DELB�JCLm�OBJWJEIg��AE?�ELOJS���̀ �FmKN?FmF�S?@e�WGBQ?U�T��NLNLKI?�OJ�N?�QBeK\H�m�|JF?Em'�<mC�NGBGFGBCeFD\p�L�\�N?omQ�e�K?RJCe'�`OK?FQ?�\�omQp�CG�E\@RUp�o?�F�?KC?@e�N?E?Mm�FNLF�m�Tm@RmF'�6?RJ�\?NBJE?@CmFp� N?EmW?O� oeF� WGBF?CJS� FmK� @?f�� OB?FJ'� <mKN?FT� \}G�q��@GEBmF�F�Oe}m� m� EL@�TLDCeF'�/JF�K?}'�<?KL�DEmOLRL�N?@?f@e� ?oRJWWmp� N?TL� NLTeHep� LRG� @GCm� oeR?� \O?DI� ELO� @JR?j@JR?'�<�?WLH�DE?\RJ�KBeTm�T�@?Q?�B?\p�O?@LCKJB�m�BmKCm'

��k

��'��� �&��������������n

:L� KBeQJS� KGCI� \� ToeKJFD\� ?o� qqjmS� Q?KJCm'�2?E?O?@p� F\O?@e�\�RG|LFp�mKG�?oRLFL'�<?B?Q�m�?F�ELO�oRJTIO?�N?FT�@GCGp}?�@mQ�K?D\QCeEJ�@GCG�BeO?U'�=?\��NLNLKI?�OL��DRmKOeFLRLTL� S?Q?� ?WJ@L� *� WJ� CG� TLNBJ@mE\EI� @GCG'� 0LO� F?B?QNGBG�eOeFLF�N?EmOp�}?�@LR?�CG�K?FGR?DI�TLDEBmRJEJDIp�LRG�\O?DINGBGS�RJ'�2?�?o?H�o?OLH�XGDOJKe�DI?Q?KCm�WeEJ�oGTCLDELCCmo?�'��G�o+UEID\�@?��KBeTmp�L�\�DL@�?KJCp�BLCGCJS'''�0GBGCe�CGTCLU'� VKe� CLF@LCC\'� :LFO?R?� FGRJOmp� oGT@G|Cm� RmDJp� WeEJF?B?|m� Q?R?DJ'� `� @eDmF� mEJp� o?� Q?Km� e@JBLEJ� T� Q?R?Kep� O?RJ?DRLoCe�}G�Ke|WG'�>Ke�\�CmWWU'�7LNE?@�WeUp�\O�NGBGKm�@C?U�FO?BWLH�}?DI�HB?NG'�:LNGFC?p�HE?DI�T�CL�JH�HR?NMmF'�0JHGCIO?p?KCmfU�BeO?U�FmKE\QLU�TL@?O�22_�m�NmKDeFLUD\'�_JFRUDI�*?OmNp�CL�?O?Nm�OeRG@GE��KGHE\B�p�L�F�?O?Nm�R\MIOm�B?QLEJFOJ�TFGRJOJ@J�oRJDOeWJ@J�?BRL@J'�_eBCm�RGNGEJ�HB?NmRJ'�`�N?ORLFCL�TG@RU��NLNLKI?�Oe�� m�EmfU�DL@?U�BeO?U�TR?FJF�TL�MmFOeOeRG@GELp� FmKOJCeFp� L� N?Em@� K?FQJ@J� DGBm\@J� DNBLFJF� �@HBGDEJCJ�m�FJOmCWJF��RJMLBmF�KG@?OBLEJWC?��2?RI}m�'�P�DeDmKCmH?O?NmF� N?WLRJ� N?R\OJ� DEBmR\EJ� OeKJ� N?NLR?p� L� \� KLF� C?QL@TCLEJ'�>Ke�KLRm'�<JH?K|e�CL�O?BK?C'�2mK�N?R\C?U�NBJNLKLU�K?TG@Rm� m��eOLU� F?B?|JH� EmCGS'� 5� HFJRJCep� O?RJ� TLNBJ@mEJFpN?DJNLFD\�CL�@GCG�oLBLoLCCJS�F?Q?CI'�̀ �}G�Ke|WG�NBJEeRJFD\K?�TG@Rm�EL�N?WLF�FmKO?WeFLEJDI�F�Oe}mp�NBJ�W?@e�Ke|G�FBLTJFD?om� BeOep� ELO�}?� N?WLRJ� O?DEm� FJRLTJEJ'� 2?EJHep� }?o� CG�GRGDCeEJp�\�N?KLFD\�QRJo�G�F�RmDp�KG�CLN?@LMOJ�B?ToLCKL|eFLFBeOe�m�TC?Fe�TLoLCKL|eFLF'�:LNJFD\�F?KJ�m�Nm�?F�KLRm'�bLB\WOL@GCm�K?OeWLRLp�LRG�\�S�?Fp�}?o�T?BmfCEeFLEJDIp�KG�NGBGoeFLU':L�DFmELCOe�\�N?oLWJF�Q?Bm�CmS�OmCGMI�DGRL�<GERJCJ'�<�CLNB\@mO?BK?Ce�T�<GERJCJ�SKeEI�F?B?|m�F?\OJ'�A?FLUD\�F�Oe}m'�<|GTLWLRJD\� F� BmTCJH� @mDM\H� XGDOJKe� TLFT\Em� o?�'� X?|Gp� X?|GpN?Ke@LF�\�D?omp�\O�EL@�@?�@�K?B?QJ@�RG@OL@�mKG�omSp�HE?�T�CJHOeNLfEID\� F� DF?�S� OB?Fmp� L� HE?� F|G� FmKmS�?F� EeKJp� KG� FmWCLDRLFL�m�WGDEI'

>Ke�K?�ELo?Bep�KG�@J�T+fKCLRJD\�T�OjB?@�X?B?@'�0L@�TLRJ�JF\� OmRIOL� NGWGCJH� oeRIo'�2?� K?B?Tm� ToJBLF� DRJ@LOJp� QBJoJ� mD@LWC?� T+�KLF'�A?W� Ke|G� DJRIC?� RRf� K?}p� CGKLRGO?� ELo?Be� \N?WeF�F?B?|m�Q?R?DJp�FT\F�EB?HJ�RmF?BeWp�TLRmT�F�Qe}LOJp�}?oDN?WJEJp� m� TLDCeF'

�Z�

1� qwjmS� Q?KJCm� OmRIOLCLKM\EI� OB?OmF� FmK� @GCG� DNLRLHCeFomS� m� OBJOJ'� `� FH?NJF� ToB?U� m� N?WLF� FEmOLEJp� L� F� omQep� CLNBGFGRJOG�}LDE\�m�BLKmDEIp�TeDEBmF�B?S'�_G@?CL�T�DEBmRIM\@Jp}?� FmKDEeNLRJ� T� o?U'� 2m�RJ� BLT?@p� T+fKCLRJD\� TOjB?@� XLSBLO?@'� 6?@LCKJB� XLSBLOp� O?RJ� @GCG� N?oLWJFpFEm�JFD\� Ke|G'�:L� CI?@e� oeRJ� N?KGBEm� N?RIDIOJ@J� OeR\@J�ELCJ'�A?W�\O�@GCm�CG�oeR?�K?�D@mHep�LRG�\�TLD@m\FD\'�:LD�eDmHF|G�oeR?�qw'�:mW'�:LFO?R?�F�DGRLH�oLBLo?Rm�CG@L'�8|�EeE�?KJCDEBmRGMI�OL|Gg��AR?NMmp�Q?F'�̀ �@LU�}G�NGBGK�?oRLF?U�TLH?FLCeoLBLo?RU�'� 2m�RJp� FmK�eOLRJp� NmKOBmNJRJDIp� m� H?W� CmW� oeRLEG@CLp�N?DeFLRJD\�KLRm'�2mK�BLC?Op�FE?@RGCmp�TLS�RJ�F�EG�DL@G@mDMGp� TFmKOJ� FJS�RJ'� �8� o?KLS� E\� QBm@� N?oJF'� PLoReKJRJ�'4N?WJFLEJ� CG@Lf� WLDe'� <W?BL� F� o?U� TLQJCeF� DEB'� 2GCI'4I?Q?KCm�@Lf@?�}G�N+\EI�DeEJW?O�T�F?B?Q?@'�<��?DEmS�DeEJWMmF|G�CG�oeR?�FJH?Kep�FKLBJRJ�N?�F?B?|?@e�ELo?Bep�}?��HLF�K?O?BK?Cep�NB?BFLRJD\�m�Nm�RJ�KLRm'�2?R\OJ�NLCmWC?�FEGORJp�o?CG�TCLRJp�}?�B?oJEID\�m�\OL�F�CLD�DJRL'

.q� WGBFC\� @J� T+fKCLRJD\� T� NGB�?U� W?E?U� OjBL� d?FJ� TD?ECm�OjBL�X?BL'�<mK�W?E?F?Q?�K?FmKLRJD\�NB?�K?RU�N?R?FJCJOeBGC\p�\OL�NB?BFLRLD\�CL�N?RIDIOJS�omO'�/GQO?�DELR?�CL�DGBMmpO?RJ� \� K?FmKLFD\p�}?� @mS� O?@LCKJB� D?ECm� m� O?@LCKJB� W?EJ|JF'

..�WGBFC\�DNJCJRJD\�CL�Q?Bm�omR\�DGRL�XeO'�1KJC�K?oBJS@mS�KBeQp�B?S?FJS�T�D?ECm�OjBL�X?BLp�oLWJFp�}?�\�?DRLoRGCJSpFT\F�CGDEJ�@?U��NLNLKI?�Oe�'�8|�EeE�BLNE?@�CLDO?O�N?R\OmFpomSp�m�\�FmKDELF�BLT?@�T�|LCK'�̀ F?B?@p�}?�oeF�DJRIC?�N?E?FWGCJS'=GCG�?Q?BCeRL�EGNGB�B?TNeOL'�2?�RmDLH�o?�� m�?oRLFJp�L�\�oGTToB?�'�XmR\�@GCG�EmRIOJ�NmDE?RI��E?OLB�'�_?�FGW?BL�@J�NGBGDJKmRJF�MI?@e�RmDmp�KG�oeF�omSp�L�O?RJ�DEG@CmR?p�N?KLRJD\�F�/?NmCCJO'

:L� /?NmCCJOe� BLCO?@� \� TeDEBmFD\� T� KLFCm@� CL�J@TCLS?@J@� oeCW'� N?B'� X?ODGB?@'�:L�� FGRGEGCI� DHeK� �LRG�}GFL|JF�q.��OmR?QBL@mF�p�T@LBCmFp�oGT��LNOJp�F�N?KGBEmS�@LBJCLBMmpN?�@LE?FLCJH��ELC\H� m� ?KCm@� FGRJOm@� WGBGFJOe��� [.'� :LNRGWLH� e� CI?Q?� oeF� @mH� FmK� oLBLo?Rm'� <mC� NmKmS�?F� K?� @GCGpN?OJFLF�Q?R?F?U�CLK�@?fU�K?RGUp�L�\�OJFLF�m�F�Ke�m�D@m\FD\CLK� S?Q?� K?RGU'�_e|G� K?�OeRJRJ� S?@e� ?oRLFJp� o?� CG�@?|GFEmOLEJ'�1KC?Q?�BLTep�?N?FmKLF�FmCp�CLDO?WJRJ�CL�CI?Q?�N?R\OJpL� E?@e�}?� FmC� TL@GBTLFp� E?� TLRLTJF� e� FGRJOJS�@m�?O'�6?RJN?R\OJ�N?WLRJ�DEBmR\EJp�FmC�TL@?ELFD\�F�@m�Oep�eNLFp� TQeoJF

�Zq

WGBGFJOp� o?� CmO?RJ� �H� CG��CeBeFLFp� m� EGNGB� H?KJEI� T� ?KCJ@WGBGFJO?@'

�G� TL� KC\� \� N?NB?}LFD\� T� N?B'� X?ODGB?@� m� NGBGS�?FQ?DEJCGMI� @m|� 0mDC?U� m� XLRJQ?B?K?@'� 2?E?FWGCJSDE'� FmDE'� `FmB� CG�@LF� DJRJ� F|G� SEJ'�2?WLF� NRLOLEJp�}?� F|G|JEJ�CG�oeKGp�o?�DJRIC?�FmKoJF�CJBOJp�?NeH�EL�NB?DJF�@GCGp}?o�\�S?Q?�TLDEBmRJF'�`�DL@�RGKFG� mKe� m�S?Q?�E\QCep�o?�\O}?CJCm�CG�KmDELCeD\�CL�ABG}LEep�E?�CLD�TFLRJEI�Q?B\WOL�ELOp�}?CG�T@?|G@?�CLFmEI�CLNJEJD\�F?KJ�T�N?E?OL'�=J�?oJKFL�CGCLWGN+\Cmp�C?QL�TL�C?Q?U�NBJ�OLCKJoLRJ�CL�KBeQJS�KGCI�F�N?ReKGCICL�ABG}LEe'� XeF� OmCGMI� WGBFC\'� PGRGCmRJ� CLFO?R?� RmDJp� L� FK?RLH�FmKMFmELRJ�DLKJ'�ABG}LEL�DE?\RL�W?@eDI�TLKe@LCL'�<?CLTL�OJ@?DI� Ee|JRL'''

dJ� CG@L� TL� OJ@� Ee|JEJ'� <?CL� CG� oLWJEI� F|G� DF?�HQ?DN?KLBmF'''�<����NB?FLRR\H�}G�K?Dm�Q?@?C\EI�TLFT\Em�o?�p�QBm@OGN?FDELCDIOG��4RLFL���<�CmWCe�EJ�e�N?WeF�oJ�}G�CL�CmS�FmKQeOCL�JH�o?S?FJH�NmDGCI'

:G@L�F|G� ��� RmD?FJH�DJCmFp�}?�CGCLWG�F�OLTMm� FJS�RJ�T_e�LEJCDIO?Q?�?TGBL'�1KCm�FNLRJ�CL�N?Rm�DRLFJp�mC�m�FmKmS�RJF�5OBL�Cep�L�EBGEmp�Q?R?KCmp�FJDCL|GCmp�?KJCMG@��eOLUEI�?KJC?KC?Q?'

:G@Lf����F?R?KLB\�*�/G@OmFDIO?��D?ECmp�NGBGK�\O?U�EBG@EmFF?B?Q'� :G@L� �NGOeW?Q?� RG@OmFDIO?Q?� ABmCL�p� CG@L� TLFT\EJHHBmCmFMmF'� 2L@+\ELU� ?KCe� OLBEJCep� \Oe� DEF?BJF� BmTIoLBEGHCmWC?Q?�TFGCL�2GEB?'�:L�CmS�CL��O?@LCKJB�DFGBKR?@�FGBEmFKmBe�N?R\O?Fm�F�C?Dmp�L�NmK�DN?K?@�oeF�CLNJDg��PLFGBEmF��@�ABmCe�C?Dmp�B?OmF�EBJ�'

{�� ������� ���W�rX���Wi�r��S��'�����'

ABG}LELp�}G�omRI�G�TBJEL�?O?NL@J�m�N?BJD?FLCL�EJD\WL@JEJD\W� DEG|?Op� FJQR\KLf� \O� �LHmFCJM\'� <JH?KJ@?� CL� ?KCeDEG|Oe'�:L�CmS� RG|LEI� W?EJBJ�CGFmK?@m� CL@�N?FDELCMm'� 7eOJN?F+\TLCmp�?Wm�N?FJO?RUFLCmp�RJM\�N?BmTLCm�oLQCGEL@Jp�L�F�eDELHoLQLE?� QRJCJ'�aO?KLp� }?� CG� @Lf@?� EeE� ~?E?LNLBLEep� }?oTB?oJEJ� TC\EOe'� �G� oeF� oJ� K?Oe@GCEp� }?� Q?F?BJF� oJ� NB?TFmBDEFL��C?F?��KG@?OBLEm��'�0L�T�EJ@J�LNLBLEL@Jp�H?Wp�@?|GpF?C?� m� CG� CL� @mDMm� EeE� NJDLEJp� EG|� oeRL� FGRJOL� O?@GKm\� CL/G@OmF}JCm'� 0eE� FD\Om� BLS?C?Fm� m� Oe}?Fm� NLBLKC?� H?KJRJ� T

�Z.

LNLBLEL@Jp�~?E?QBL~eFLRJp�}?�N?NLR?p�LRG�CL@�K?�D?ECm�CmHE?LNLBLEe� CG� KLF'� `� DFmK?@JS� E?Q?p� }?� F� @LSoeECI?@e� CGNBJCGDeEI�FJH?FC?��O?BJDEJ�DFmERJCJp�CL�\OJH�N?oLWLEI�\O?Q?DIEL@�BLS?C?F?Q?�WJ�Oe}?F?Q?p�LRG�CLNGFC?�oeRJ�o�TF?Be�JRJD\DGBM\p�O?RJ�o�N?oLWJRJ�CL�DFmERJCm�omS�/G@OmFDIO?��D?ECmp�CLDEeNCL�F?B?|m�QLB@LEJ�WJ�EGp�\O�D?EC\�FGKG�q���N?R?CGCJH�N?R\OmFLo?� K?FQJ@J� RLFL@J� DReHLf� 4Re|oe� X?|e'� `O?DI� @GCm� ELOE?DOC?�DELR?�CL�DGBMmp�}?�\�B?TmS�?FD\�T�DF?�@J�O?@LCKJBL@JpDEBmRIM\@J�m�CG�@LU�Cm�?KCmf��TC\EOJ'�dJ�MG�FEBLEL�EmRIOJ�KR\@GCG'�0L�KG�EL@'��G�FEBLEL�m�KR\�mDE?Bm�p�m�KR\�@LSoeECmH�N?O?RmCI'�?o�HE?DI�WLD?@�@GCm�CG�TLOJCeFp�}?�\p�@?|Gp�FJDEeNLF�NB?EJ?BQLCmTLMm�'�:m'�`�CG�@?|e�NB?EJ�CG��FJDEeNLEJp�o?�F?CL�@GCGFJH?FLRLp�o?�F?CL�KR\�@GCG�NB?FmKCL�TmBOL'�`�EmRIOJ�OBJEJOeUKG\OJH� RUKGSp�}?� CG� oeRJ� WRGCL@J� ?BQLCmTLMm�p� LRG� TLS@LRJNGFCm� N?DEJ� F� EGBGC?FmS� DmEMm� F� Mm� KCm� CL�JH� NmKNmRIC?jBGF?RUMmSCJH� T@LQLCI'

:LK�CGTCLCJ@J�KBeT\@JjQGB?\@J�@J�NB?WJELRJ�@?RJEFe�mNm�RJ�KLRm��eOLEJ�CL�DEG|OLH�NLBEJTLCDIOJH�DRmKmF'�>�TCLS�RJ'>Kep� CLWG� @JDRJFGMIp� mp� CL� FGRJOG� FK?F?RGCC\p� TeDEBmWLUOjBL� 7GCL� T� ?H?B?C?Up� K?� O?EB?Q?� TLBLT� K?ReWJRJD\� ELO?|Oe}�4?B?OLE?Q?�m�BLS'�NB?F'�d?BC?EL'�6?@LCKJB�N?ORJOLF�@GCGCLomOp� FJNJEeFLF� NB?� CL�m� o?�� EL� OeKJ� Nm�RJ� D?ECm'� <mC� oeFDe@CJSp� NBJQC?oRGCJS� m� ?oKGBEJS'

]�'����X����p����x���s

.�� WGBFC\p� \O� N?WLR?� DFmELEJp� CLK�ABG}LE?U� N?\FJRJD\F?B?|m� RmELOJjo?@o?FJOJ'� 6jB� 7GC� DOLTLFp�}?� MG� FmSCL'� <DmTBLKmRJ�m�FJS�RJ�CL�Q?Be�@m|�_e�LEJC?@�m�2BGReOL@J'�5�@GCGoeR?� NGBGO?CLCC\p�}?� E?� CG� FmSCLp� L� F?B?|m� B?T�eOJp� LRG\O?DI�@GCm�CG�RJMUFLR?�Q?F?BJEJ�MG'�1�kjmS�Q?KJCm�NBJ�HLR?EBJ�o?@o?FJOJp�}?�WGBGT�NmFQ?KJCJ�N?WLRJ�o?@oJEJ�ABG}LEepKe@LUWJp�}?�EL@�TmoBLCm�FmKKmRJ�CL�TomBC?@e�NeCOEmp��@�N?WLRLFE?BeFLEJ� LBEJRGBm\p�}?� DEBmR\RL� T� XLRJQ?B?KL� m� /eO?FL'� P1DRLFJMm� oJRJ� QLB@LEJ� NLCMGBC?Q?� N?�TKe'� 4GRL� CLFO?R?ABG}LE?�� oeRJ� TLoRI?O?FLCmp� L� N?RIDIOG� FmSDIO?� MmRJS� WLDRG|LR?�CL�DELC?FJ}LH�F�?O?NLH'��6eOeBeKT\CJOJ��QBLRJ�NGB�eDOBJNOep� o?� BmTLRJ� T� OeRG@GEmF'� 6e}?FJOJ� TR\OLRJD\p� CGTCLUWJp�}?� B?oJEJ'�4EB'� _eCLS� m� DEB'� <R?KO?� N?WLRJ� NHLEJ

�Z�

Q?R?Fe� NmK� \RJMUp� L� N?Em@� F� TG@RU� m� KLFLS� oJEJ� C?QL@J'� `oLWJF�MG�m�F�Ke�m�D@m\FD\'�6jB�7GC�ELO?|�CLR\OLFD\'�=GCm�oeR??KCLO?F?'� `p� NmKDELB�JCL�528p�}G� CG� ELOG� oLWJF� e� o?\H'� `DO?BJDELFD\��HCm@�NGBGR\O?@p�CLoBLF�D?om�?KCe��KeCOe�U�OJpT+�Fp� Nm�?F� CLoBLF� KBeQep� ELO?|� T+�Fp� L� N?E?@e� FT\F� D?om�}GNmF+�KeCOJp�N?FmDJF�CL�\RJMU�EL�S�KJFRUD\p�\O�F?CL�Q?SKLfEID\'=?|Gp�HE?DI�DOL|Gp�}?�\�oeF�NL|GBRJFJS'�:m'�`�CmFB?Oe�OeNLHR?NLp�L�Q?R?K�ELO�@GCm�K?OeWJFp�}?�Q?Km�oeR?�D?B?@JEJD\'�5CL�JH� EGBGC?FJOmF� DNBLFL� NB?HLBWeFLCC\� CG� FJQR\KLRL� ELODEBL�C?p�\O�e�D?ECmp� �H�OmRIOL�@?QRJ�@LEJ�NJFCJMU�oLBLo?RmCL�MmRJS�BmOp�L�F�CLD�NJFCJM\�S�RL�CL�?KCe�FGWGBU'�PBG�E?UpF?CJ�@LRJ�@L�LTJCJp�DE\QLRJ�O?CEJC�GCEJp�L�F�CLDp�omR\�CL�JH@L�LTJCmF� O?R?� DGRL� /eO?FLp� OFLBEJBef� FmSDIO?'� 2?o?@oLBKeFLCCU� \� Nm�?F� DNLEJ'�1� qYjmS� Q?KJCm� ToeKJF� @GCGO?@'�OeB+fBDIO?��RLCOJ�_eH�m�DOLTLFp�}?�@GCG�WGOLf�F�DELB?@eELo?Bm�OjB�_eC\�T�KF?@L�DEBmRIM\@J'�<T\F�\�T�D?o?U�:GTQ?Ke�mNm�?F�K?�CI?Q?'�2mKmS�?F�J�K?�ELo?Bep�\�N?oLWJF�CGFmK?@JHFmSDIO?FJH�m�Ke@LFp�}?�MG�OeR'�4\C'�0J@�WLD?@�\�N?WeF�N?RIDIOe@?Fe'� <mKBLTe� N?FmK?@JF� NB?� MG� OjBL� 7GCLp� \OJS� TmoBLFD\� mFmKmS�?Fp� L� @GCm� CLOLTLF� WGOLEJ� CL� DLCmELBL'� <� RmDm� DOBmTIFmKoeFLUEID\� ?oRLFJp� LRG� T� CL@J� F?B?Q� CG� TeDEBmFD\'��mRJSEJ|KGCI�|KLF�\�CL�DLCmELBLp�LRG�CG�Km|KLFD\'

�X���Wi�r��X�iL�#� ��W��'W���W�� ���� ��'����'��y

4N?WLEOe�\�oeF�e�Oe}m�4?B?OLE?Q?p�LRG�N?Em@�TLoBLF�@GCGK?�DGoG�_eH'�0eE�TeDEBmF�@GCG�oeCW'�CL�?��D?ECm�2BJDNmF'�<mCDOLTLF�@GCmp�KG�NGBGoeFLf�CL�L�D?EC\t�@J�EmRIOJ�NmKOBmNJ@?DIpN?ToJBLf@?� EJHp�}?� FmKReWJRJD\p� m� NmKG@?� K?� O?@LCKJBLp� LN?Em@�BLT?@�T�D?ECGU�*�F�5OBL�Ce'

P� oeCW'�2BJDNmF?@� NBJS�?F� ELO?|� N?RmEFJH?FCJO� D?ECmOjBL�4ELHLp�4?R?@OLp�O?@'�2��4?OmRp�DEB'�/UEJS�m�DEB'�4@?O'

4L@?RUo�4?R?@OL�DOLTLFp�}?�FmC�mKG�F�BLS?C�NB?F'�XeBRLOJm�F�5OBL�Ce�CG�NmKG'�6?@'�2��4?OmR�N?WLF�DFLBJEJD\p�OL|eWJp}?�FmC�\O�N?RmEFJH?FCJO�KG@?BLRmTef�FmSDIO?'

2?� EBI?H� KC\H� \� Nm�?F� T� Q?DN'� <?B?C?@� NGBGKLEJ� S?@eCL�m�@L�LTJCJ�Tom||\�F�RmDm�O?R?�DGRL�4GBGKCI?Q?�<GRJO?Q?':L�|LRIp�CL�G�Tom||\�TL@?OR?'

�ZZ

U��!��W�� �X

=J�BLT?@�T�oeCWe|CJ@�TmoBLRJ�WLDEJCe�HR?NMmFp�CLNGORJOLBE?NR\CJH�NR\MOmF�m�FmKmS�RJ�CL�/?NmCCJO'�:L�/?NmCCJOe�\TeDEBmF� N?RmEFJH?FCJOL� O?@LCKeFLCC\� FmKEJCOe� <GBCJQ?BepOe}'�/LCLp�6BeOLp� KF?H�|LCKLB@mF� T� D?ECm� OjBL� bB?@GCOL� ELKF?H�DEBmRIMmF�T�@mDMGF?Q?�Oe}L'

2?RmEFJH?FCJO� <GBCJQ?BLp� TL@mDEI� NmKoLKI?BUFLEJ� CLDpN?WLF�?N?FmKLEJ�|LHRJFm�BGWm�NB?�o?RI�GFJMIOe�KmSDCmDEI'�1SpNLC?FG�N?RmEFJH?FCJOJp�FJ�}?DI�CG�F�N?B\KOep�N?Ke@LF�\�D?omm�Nm�?F�CLomO'�5�@GCG�oeRL�N?DELC?FL�NmEJ�F�5OBL�Cep�o?�EeKJNm�?F�@mS�O?@LCKJBp�OjB�XmB�m�OjB�4ELH'�A?W�oJ�\�@LF�FNLDEJCL�O?BK?Cmp�L�ELOJ�NmKe'�=e�e�EeE�DEFGBKJEJp�}?�FmKHmK�FmKKmRmFF�5OBL�Cep�\Om�Em�JRJD\�CL�/G@OmF}JCm�LFE?BJEGE?@�m�RUo?F+UCG�RJ�G�@m|�CLDGRGCC\@p�LRG�ELO?|�m�@m|�CJT?FJ@�WRGCDEF?@EGBGC?F?��DmEOJp�FmK+f@C?�FNRJCeF�CL�CJT?Fm�OLKBJ'�<�K?KLE?OCGELOE?FCL� N?FGKmCOL� KG\OJH� EGBGC?FJH� NB?FmKCJOmF� mBG~GBGCEmF�DNBJWJCJRL�oGTQ?R?F+\p�KGTGBEJBDEFL�EL�FmKHmK�K?L@GBJOLCDIO?�� T?CJ'� 1Ep� CLNBJORLKp� CLKBLS?C?FJS� NB?FmK?Q?R?�ef� N?FmK?@RGCC\� NB?� D@GBECm� FJB?OJ� CL� EJHp� }?TKGTGBEeFLRJ�Lo?�FmKmS�RJ�NmK�T?Cep�L�EJ@�WLD?@�DL@�ToJBLfEID\EeKJ�SEJ'�<?CJ�Ke@LRJp�}?�@J�CG�?BmfCEef@?D\�F��HCmS�B?o?Em'>KGSCm�m�WGDCm�DEBmRIMmp�O?@LCKJBJ�m�KG\Om�NB?FmKCJOJ�NR\@eFLRJ�H�B?o?Ee� m�Nm�RJ�EeKJp�OeKJ�EBGoL'�/UKJ�HJEO?Q?�HLBLOEGBeDO?B?�TCGFmBJRJDIp�Nm�RJ�DL@?NLD�Lo?�NmK�T?Ce'�Z2�0�&&����������+�� ���)/�����1����G�)��0�����0���F���������[�

U��R�� ���W����qX�W

P�/?NmCCJOL�CL�L�CGFGRJWOL�QBeNL�ELOJ�FKGCI�NGBGH?KJEICL� <GERJCDIOe� =L�eBep� KG� K?ReWLfEID\� K?� CLDB?S'� DE'� FmDE'� _G@?C� BLT?@� T� B?f@� EL� T� OmRIO?@L� DEBmRIM\@JEGBGC?F?��DmEOJ'�:LD�TmoBLR?D\�F|G�EeE�[Z�W?R?FmOL'�`�BLT?@�ToeCWe|CJ@�N?KmRJF�RUKGS�CL�W?EJBJ�B?�'�2mDR\�E?Q?�oeCWe|CJSTL\FJFp�}?� FmC�@Lf�}G� B\K� DNBLF� K?� N?RLQ?K|GCC\� m� @eDJEIFmKmSEJ'�̀ �TLNBJ@mEJFp�}?�FmC�N?WJCLf�OBeEJEJ'�2?Em@�FmC�DNJELFDEBmRIMmFp�HE?�H?WG�SEJ�CL�TLHmKp� L�HE?�*�F�5OBL�Ce'�1Wm�FDmHDEBmRIMmF�TFGBCeRJD\�CL�@GCG'�`�OBJOCeF�K?�HR?NMmFp�}?�DGBMG�mB?Te@�OL|eEI�mEJ�CL�DHmK'�5Dm�oeRJ�Tm�@C?U�TQ?KCm'

�Z[

2mDR\�E?Q?�NBJS�?F�K?�CLD�DE'�FmDE'�/LSomKL�mT�DLCmELB?@':GFK?FTm�NBJomQLUEI�mC�m�NmKNmRICJOJ'�6L|eEIp�}?�FmK�4\Ce�m�OeEL�� Tm� DH?Ke�SKG� FGRJOL� ?oRLFL� F� CLNB\@m� TLH?Ke'� 7LNE?@NBJomQLUEI�DEmSO?Fm�S�Q?F?B\EIp�}?�N?R\OJ�?DI�e|G�oRJTIO?'=J�N?WLRJ�FmKDEeNLEJ�F�CLNB\@m�TLH?Ke'�<mKDEeNLUWJp�TeDEBmRJOjBL�X?ODGBLp�}?�H?EmF�K?�CLD�K?ReWJEJD\p�LRG�oeCW'�2BJDNmFOLTLF�S?@e�FmKmSEJ�FmK�FmSDIOL'�8�ELO?|�DOLTLFp�}?o�Oe}?FJOJB?TmS�RJD\�K?�DF?�H�Oe}mF'�=J�oeRJ�Ke|G�Q?R?KCm'�2?�K?B?TmToJBLRJ� T?QCJRe� oeRIoe� m� H?FLRJ� F� E?Boe'� XmR\� Q?DEJCM\XLRJQ?B?K�*�0mDCL�@J�Ke|G�?DRLoRJp�LRG�F?B?|m�N?DEBmRJ�N?WLRJCLD�NmKQLC\EJ'�<�KLRI�mS�K?B?Tm�?oBJFLRJ�Q?BmHJp�H?W�}G�TGBC\ECG�oeR?p�m�T+�KLRJ�@+\OJ��T�DGBGKJCJ'�4EB'�4EBeKp�d@mRIp�`DGCIm�4@?O�CL�RJD\�DJBJH�QBJomFp�KmDELRJ��ReCO?Fm�O?BWm�m�CG�@LRJDJR� mEJ� KLRm'� XeCW'� 2BJDNmF� CLOLTLF� �@� TLRJ�JEJD\p� LRG� \NBJOBmNJF�K?�O?|C?Q?�N?�?KC?@e�DEBmRIMGFmp�}?o�FGDEJ��H�KLRm':L�FGWmB�TLS�RJ�@J�CL�DGR?�4eO?FLEG'�`�N?DRLF�DEBmRIMmF�TLoLBLo?RGU� m� CLOLTLF� T?BQLCmTeFLEJ� \OJSDI� N?DeKp� o?� CG@L� FWm@� FLBJEJ'�=Lf@?� FDI?Q?� W?EJBJRmEB?FJS� oLC\O'� XmR\� ?KCmf�NJFCJMm�@?��DEBmRIMm�TF+\TLRJD\�T�DEBmRIM\@J�d?BE?@p�2W?R?Up2LCJWG@�m�4JWG@'�<?CJ�NBJfKCLRJD\�K?�@GCG�CL�KBeQJS�KGCI'

R������W������X������n�

`�FJDRLF�DEBmRIMmF��eOep�d?BELp�/UE?Q?�m�/eQ?F?Q?�FmK�eOLEJKGDI� oLBLo?RU� EL� T?BQLCmTeFLEJ�@+\D?'��G� NGB�?B\KCm� F?\OJ'<?CJ�FOBLRJ�e�N?R\OmF�EBJ�FmFMm�m�B?TK?oeRJ�MJoeRU�F�4GBGKCm@<GRJOm@'�A?W� QCLRJD\� TL�CJ@J�N?R\OJp� LRG�FmFMm� FEmOLRJ�BLT?@T�CJ@J�F�CL�?@e�CLNB\@m'�2BJQLKLF�\�D?omp�}?�CL��D?EGCCJSmCEGCKLCE�2'�N?�?NGBLMm��F�DGRm�2?BL|�DH?FLF�O?R?��LFC?Q?�F�RmDmDmRI'�2m�RJ�DEBmRIMmp�TCLS�RJ�m�NBJCGDRJ'�<|G�@Lf@?�FDGp�EmRIOJoBLOef� DmBCJOL'� 4EB'� 4JW� TB?oJF� KF?f� OBGDLR� K?� QeoOJpL�T�NBe|JCJ�FmK�Q?KJCCJOL�KFm�Q?ROJ'�4EB'�d?BE�TB?oJF�DJomBDIOm|?BCL'�<|G�@Lf@?�WJ@�Q?DN?KLBUFLEJ'�`O?DI�CG@Lf�oeCWe|C?Q?'2?DJRLU�TL�CJ@�EBI?H�DEBmRIMmFg�_eoLp�4@?OL�m�:GTQ?Ke'�<?CJ�N?FGRJOJH�EBeKLH�TCLS�RJ�S?Q?�F�Oe}m�4?B?OLE?Q?'�<mC�NBJS�?FK?�CLDp�N?oeF�OmRIOL�KCmF�m�TC?Fe�FmKmS�?F'�6?@'�2��4?OmR�TLoBLFDEB'�:GTQ?Ke�m�<LCIOe�EL�T�CJ@J�Nm�?F�CL�TLHmK��eOLEJ�TF+\TOmFK?�NB?F'�XeBRLOJ'

:L� N?Rm� Tom||\� N?WJCLf� K?DEJQLEJ'� PoJBLf@?� O?R?DOJp

�ZY

Re}J@?p�De�J@?�TGBC?�m�@GRG@?�CL�DJomBDIOJH�|?BCLHp�\Om�CL/G@OmF}JCm�CLFWJF�B?oJEJ�OjB�6LB@GRUO'�6FLBEJBef@?�O?R?DGRL�4eO?FLE?Q?'�<C?Wm� FLBJ@?� �DEJp� L� T� DFmELCO?@�FJH?KJ@?CL�Q?Be'�:L�KGCI�O?|CJS�@Lf�oLCOe�U�OJ�m�NGWGCm�NR\MOJ�CLFJNLK?O�N?Q?Cm'�:L�ABG}LEmS�KLRm�?oRLFJ'�deEJ�OBJOJp�N?DEBmRJp@J�TCLH?KJ@?�oLQLE?�DFm|JH�DEG|?O'�1KC?Q?�BLCOe�TLNBJ@mEJRJ@Jp� \O� T� DGRL� 7?TEmO� CLKmS�R?� EBJ� D?ECm� N?RIDIO?Q?� FmSDIOLpN?Em@�F?CJ�B?TWRGCeFLRJD\g�?KCL�WLDEJCL�Nm�RL�CL�CL��ELomBpKG�oeRL�OeHC\p�mC�L�*�FmK�4eO?FLE?Q?p�L�EBGE\�N?WLRL�?oH?KJEJTQ?BJ'�=J�FmKDEeNJRJ�m�T@mCJRJ�@mDMG�N?DE?U'�=m|�DEBmRIM\@JNmKDReHLF�\�B?T@?FJg��2mK�T?Ce�CG�SKep�CL�TLHmK�ELO?|�Cmp�o?EL@�CG@L�}?��DEJ'�d?R?FmO�FmKReWJEID\�FmK�QBeNJp�oeKG�oReKJEJpEL� }G� DL@m� N?R\OJjMJFmRm� EGoG� TLKe�LEI'� 2?}?� E?@eoeCWe|C?@e�TF+\TOmF�CL�TLHmK�'

4EmSOJ�EBJ@Lf@?�CG�EmRIOJ�F�RmDmp�LRG�ELO?|�m�CL�\RJMmp�KGDEBmRGMI�T?BJEI�N?oRJTIOm�N?R\CJ'

1KC?Q?�KC\�DEBmRIMm�d?BEp�/UEJS� m�0BeE�N?FGBELUEID\�T?BQLCmTLMm��N?EBmoCJH�BGWGS'�<?CJ�eBFLRJD\�F�F?B?|G�QCmTK?pTFmKOJ�FT\RJ�KFm�NLBJ�omRJTCJp�?KCG�eoBLCC\p�KFm�NLBJ�WGBGFJOmFpNRL}�EL�NBJCGDRJ�B\K�MmOLFJH�FmDE?O�mT�DFmEe'

5FGW?Bm�NBJS�?F�oeCWe|CJS�m�CLOLTLF�@GCm�SEJ�CL�=L�eBepL�FmC�EL@�K?ReWJEID\�m�E?Km�NmKG@?�F�5OBL�Ce'�`�TmoBLF�HR?NMmF�mNm�?F�CL�TeDEBmWCJS�NeCOEp�CL�\OJS�NBJS�RJ�OeB+fBJ�T�Oe}LEL�o?S?FJOJ�FmK�BLS'�BG~'�4X�XGBOeEL'�X?S?FJOJ�ELO?|�H?EmRJSEJ� F� 5OBL�Ce'� <?CJ� B?TOLTLRJ� @GCmp� }?� oeCW'� 2BJDNmF�2BJOeS�p�BG~'�4X�XGBOeEp�O?@'�6P�_eH�TQeBEeFLRJD\�BLT?@�mFmKH?K\EI�NmK�?OeNLMmSCe�L@GBJOLCDIOe�T?Ce'

`�NB\@eU�NB?DE?�K?�Oe}L�`BG@J'�0eE�TeDEBmF�D?E'�<?RUp\OJS�CL@?FR\f�@GCG�NGBGKLEJ�CL�O?Q?DI�W?Ee�EL�SEJ�T�CJ@�F2GBG@J}JCe'�1KCLO�\�S?@e�FmK@?FJFp�o?�CL�MG�CG�K?TF?R\RL@GCm�@?\�F?\MIOL�WGDEI'�1N?FmKLUEI�@GCm�EeE�ELOm�BGWmp�}?�CL5OBL�Cm�CG@L�TF+\TOmFp�O?|CJS�mKG�EeKJp�OeKJ�TCLfp�m�E'�K'�8RG�\EL@�O?RJDI�F?UFLFp�E?�WGS�|G�O?Q?DI�TCLUp�}?�@GCG�FNmTCLf'�<K?B?Tm� TeDEBmWLU�6LRJCe� �KBe|JCe�_G@L�'�<?CL�NBLMUFLRL�FXmBWLC}JCm�DLCmELBO?U'�4OLTLRL�@GCmp�}?�CL�=L�eBm�omR\�DGRL6BJF?Q?�f�NB?F'�=LBp�QBeNef�Oe}m�m�KLf�HLBW?Fe�K?N?@?Qe�EJ@pO?EBm�FmKH?K\EI�CL�5OBL�Ce'�:L�@?f�NB?HLCC\�Oe}'�Q?DN'�bBe�OLKLf�@GCm�q[�OmR?QBL@mF�|JEL�CL�K?B?Qe'

0?Kmp�O?RJ�KGTGBEJBDEF?�oeCWe|C?Q?�DELR?�~LOE?@p�\�TmoBLF

�Zn

e�RLFe�DEBmRIMmF�m�DOLTLFg��<mK�DI?Q?KCm�\�FL��O?@LCKJB�m�FGKeFLD�CL�5OBL�Ce�'�2mDR\�E?Q?�NB?WJELRJ��=?RJEFe�eOBL�CDIO?Q?BGF?RUMm?CGBL�'�XmR\�@GCG�DEBmRIMm�T�D?EGCI�O?@LCKJBmF�ABmCLpX?BLp�XeBRLOJp�4ELHLp�/LDEmFOJp�6BJRLWL�m�bB?@GCOL'�4EBmRIMmCG� FLBJRJ� CmW?Q?� �DEJp� H?W� @J� CG� �RJ� F|G� KBeQJS� KGCIp� o?H?WG@?�DO?Bm�G�TR?FJEJ�TF+\T?O�CL�=L�eBe'

U����qX�W

5FGW?Bm� NGBGS�RJ� DGR?� /?NmCOe'� 0eE� F� DLKLH� CLEB\DRJEB?HJ�QBe�?Op�F�DGRm�XeO�CLoBLRJ�oLBLo?Rmp�TL�DGR?@�TFLBJRJFGWGBU�m�FmKmS�RJ�KLRm'�P�FL|OJ@�EBeK?@�TeDEBmF�\�6BeOLp�}?TF+\TLF�@GCG�T�Oe}'�/LC?@'�0eE�?KGB|LF�FmDEOep�}?�F|G�?KCLQBeNL�Oe}?FJOmF�FmKH?KJEI�CL�5OBL�Ce'�`�N?FmK?@JF�NB?�CL�NBJHmK�NB?FmKCJOL'�PLNJELFp�WJ�\�@?|e�SEJ�T�EmfU�QBeN?Up�\OLTLBLT�FmKH?KJEI'�2B?F'�=LB�FmKN?FmFp�}?�FmC�CG�@?|G�FJBm�eFLEJF�FmSDIO?FJH�DNBLFLH�m�TL�FmSDIO?�CG�FmKN?FmKLf'�0?Km�\�N?WLFNB?DJEJp�}?o� FmC� @GCm� KLF� mC~?B@LMm�p� HLBW?Fe� K?N?@?Qe� ELN?DFmKOJp�o?�HLBLOEGB�NJDI@L�NB?F'�=LBL�F�5OBL�Cm�KGHE?�TCLf'`�?KGB|LF�FmK�NB?FmKCJOL�@LNejDNGMm\ROep�CL�\OmS�\�FJTCLWJF@LB�BeE�EL�TF+\TOJp�W?EJBJ�N?DFmKOJ�K?�NB?F'�P?FLp�\Om�B?TKLFCL� O?|CJS� BmSp�}?o� @LRJ� CL� FJNLK?O� B?ToJEE\'�2mDR\� E?Q?NB?F'�=LB� DOLTLF� @GCm� TLNJELEJ� DEBmRIMmFp� HE?� H?WG� SEJ� F5OBL�Cep�L�HE?�Cmp�o?�CmO?Q?�CG�EBGoL�DJReFLEJ'�̀ �@LF�.Z�DEBmRIMmm�?KCe�KmFWJCe�2WmROe'�6?RJ�\�N?DELFJF�ELOG�NJELCC\�DEBmRIM\@CL�TomBMmp�FDm�TL\FJRJp�}?�SKG@?�F�5OBL�Ce'�<?CJ�FmBJRJ�@GCmpo?�T�FmSDIO?FJH�NmKDELB�JC�EeE�CG�oeR?�CmO?Q?p�HE?�@mQ�oJ��HN?NB?FLKJEJ'

2mDR\�E?Q?�\�FJDRLF�?KCJH�N?�oLBLo?RU�K?�DGRL�6BJF?Q?pmC�JH�*�K?�DGRL�6?oJRIDIO?Q?�N?�|JE?p�\OG�@Lf�oeEJ�F�DNLRGCm@oeKJCOe� NmK� NmWWU'�4EBmRIM\�/eQ?F?Q?� m� OeRG@GECJOL� FJDRLFN?�OeRG@GEL'�`�CLOLTLF�NBJQ?EeFLEJ�N?�.��NR\MOmF�CL�K?B?Qe'

<mK�@mDMGFJH�DEBmRIMmF�K?FmKLFD\�\p�}?�@?\��NLNLKI?�OL��FOe}m�`DGC\p�o?����EL@�RJ�JF�B?S?FJS�T�D?ECm�OjBL�X?BL'�2m�?F\� EeKJp� LRG� @GCm� FmK@?FJRJ� FmKKLEJ'� 0?Km� \� TFGBCeFD\� K?NB?F'�=LBLp�}?� DNBLFe� N?RLQ?KJF� CL� O?BJDEI� E?Q?� DEBmRIM\'��?�|� MG� TL� N?B\K?Op�*� DOLTLF� \� K?� NB?FmKCJOL'�*�=?\�NLNLKI?�OL��NmK�T?Ce�CG�NmKG'�<?CL�TB?�GCL�@?fU�OB?F+Up�\

�Zw

TK?oeF� D?om� ��� m� C?�e� F|G� W?EJBJ� B?OJ'� `O}?� FJ� ELON?RLQ?K|efEG� DNBLFJp� E?� \� SKe� T� FmSDIO?@� m� TLoGBe� DJR?U�'2B?FmKCJO�N?Ke@LF� EL�S�CLOLTLF� FmKKLEJ�@GCm� �NLNLKI?�Oe�'�PK?oeF�\�EGoGp�O?HLCLp�CL�o?RI�GFJOep�oJF�\�E?o?U��Hp�m�NmKG�EJ�KLRm�oJEJ�'�_G\Om�NB?FmKCJOJp�\�CG�H?We�N?KLFLEJ�EeE��HCmHNDGFKp�CL@?FR\RJ�@GCG�NGBGKLEJ�O?@ejCGoeKI�W?Ee�m�SEJ�T�CJ@JNmK�T?Ce'�>C�mp�CLNBJORLKp�N?RmEFJH?FCJO�<GBCJQ?BLp�Oe}'�/LCp6BeOp� OLTLRJ�@GCmp�}?� \� T� ELO?U� �@m�LCJC?U�� CG� NGBGSKe'4EBL�EGp�DEBL�EG�@GCGp�Ke@LF�\p�o?�FJKC?p�}?�omRI�G�CmW?Q?CG�TCLfEG'�_R\�F?\OL�CGoGTNGOL�CG�DEBL�CL'

4EBmRIMm�N?WLRJ�NB?DJEJg��PLDNmFLS@?�@LB��CL�?��D?ECm�'>�@J�DNmFLRJ�NmDCU�?DELCCmS�BLT�CL�/G@OmF}JCmg

L� ����S����& ���/0�&0���/$�&,��))�� ���� ��0�� ��/D��������)�&& &�.) ���)R(� ��S����&B���0,�������

��� ��(�������/��&�����/����+��&���'���,��/T�(,���0� ���������3/L�%������0 �������+&,��)�

��������+��%&����& ���(�/�������,��&�������/����3/�� ����)����&��&/$������&���'���0,�&��

����%/�+��%&��'�/&����&/��������������&��)�/��������0���0���������& �0����1/B�,,���1������%���

L�&&�)��/����3��1�����/D������/W��� ���X&��,��� ���B���0��)�����������/������&����)�&& �&����

�Zk

E�����.�����`S����&G�� ��� �����,�����/ � ��&��%��������A������L���3&���'�.�� ���

G������� ���� ��&��),�.&/a ����/!�'�1��/D�(&���/L�0�&'��0� ��&�+&�%���/J�0,��� &���&�� &�����

-������ &,��),�����/$�,���1����&�)���/G� �,�/�&���-���.��/��,�+ ������ &����

AR?NMm� DNmFLRJ� T� TLK?F?RGCC\@'� �8RG� EeE�}G� oBLOefp�*DOLTLF�FmDE'��eOL'�*�PL�CL@J�CG�KGD\EOJ�o?�Fp�L�F|G�D?EC\�'_BeQJS�K?KLFg��8�XeOmFDIO?p�PLQmB+\p�o?��?oLomW�6LBNLE�m�EGNGB@LB�� CL� 5OBL�Ce�p� �8�4FfBWGFDIOJS�}?�p�*� DOLTLF� EBGEmS'�0LOp� ELOp� m� NB?� MG� O?RJDI� oeKeEI� NmDCm�p�*� FmKN?FmF� \� �@'�8N?OJ�}?�MGS�@LB��DORLRJ�F?DGCJ�qkZY�B?Oe'

#������W�'��o�'

:L�5OBL�Ce�F|G�FmKmS�RL�QBeNL�T�Oe}'�Q?DN'�4EJB?@g�0GE\CLp=LBmSOLp�=LBEL�m�_eC\'�<?CJ�FmKmS�RJ�qZ�DGBNC\�qkZn�B?Oe'

bBeNL� oeCW'� XeBGFm\p�}?� DORLKLRLD\� T� �[� W?R?FmOp� Nm�RLqY�DGBNC\'�qw�DGBNC\�NGBGH?KJEI�@?\�QBeNL�*�.Y�?Dmog�T�NGB�?�D?ECm� B?S'� _G@?Cp� FmDE'��eOLp� FmDE'� d?BEp� FmDE'� bBe�OLpFmDE'�2W?RLp�FmDE'�b?Bo?Ot� T�KBeQ?�� D?ECm�*�DE'�FmDE'�B?S'�`FmBpDLC'�2LCJWp� FmDE'� 4JWp� FmDE'� 0BeEp� FmDE'� /eQ?FJSp� FmDE'� 4@?OpFmDE'�d@mRIp�FmDE'�`DGCIp�FmDE'�6?@LBp�FmDE'�deNBJCLp�FmDE'�XmRJSp2WmROLp�FmDE'�Xmo�T�FmKKmRe�OjBL�X?BL�S�mC�m�T�FmKKmRmF�2GBG@J}JCJ'

2GBGK�FmKH?K?@�\�TeDEBmF�DF?Q?�E?FLBJ�L�6LBNLp�\OJS�@GCmOBL}G�T+\DeFLF�?oDELFJCJ�CL�5OBL�Cm'�`�KLF�CLOLT�BLCO?@�NGBGKFmKH?K?@�FJWJDEJEJ�ToB?Up�L�N?Em@�N?ORJOLF�B?S?FJHp�N?FWJFp\O� FGDEJ� HR?NMmFp� \OJS� K?EBJ@eFLEJ� N?B\K?O� F� WLD� @LB�epNGBGH?Ke� O?BK?Cep� CL� FJNLK?O� o?U� Lo?� B?ToJEE\'� 7?S'� `FmBN?FmK?@JFp�}?�DEB'�0BeE�T+�F�DF?��.��NR\MOmF'�2?ORJOLF�\�K?�DGoG

�[�

E?Q?�DEBmRIM\p�L�FmC�@GCm�OL|Gg��:e�\Op�O?@LCKJBGp�CG�T+�DEJp�\O\� CG� @?|e� FJEBJ@LEJ'� <DG� WeU� Q?R?K�'� 5� FmKN?FmKI� CL� MG� \DOLTLFp�}?�ELO�CG�EBGoL�B?oJEJp�}?�|�FmC�oeKG��DEJ�NmDR\�EBI?HKCmF�@LB�e'�1KCLO� \� CG� DFLBJFD\p� o?� Q?R?K� K?OeWJF� ELO?|� m@GCm'�`�B?Te@mF�S?Q?'�2GBGK�FmKH?K?@�\�TB?oJF�TomBOep�CLOLTLFFJO?CeFLEJ�CLOLTJp�EBJ@LEJ�N?B\K?O�m�SEJ�D@mRJF?'�PL�NBJORLKFOLTLF��@p�\O�=?SDGS�FmF�K?�?omM\C?��TG@Rm�mTBL�RIDIOJS�CLB?K'

:L�=L�eBm�@J�TLH?FLRJ�DF?��OeHLBDIOm�oLC\WOJ'�7e�JRJ�FK?B?Qe'�2mK�FGWmB�@J�?NJCJRJD\�CLK�4eHJ@J�7mOL@J'�:L�KBeQJSKGCI�?NmFKCm�TLOFLBEJBeFLRJ�O?R?�DGRL��LBJCDIO?Q?'�0L@�TFLBJRJ?omKp� F� DLKLH� CLBFLRJ� \oReOp� QBe�p� L� CL� Q?B?KLH�*� oLOeCe'5FGW?Bm�Nm�RJ�K?�DGRL�4EeN?D\C�m�TLOFLBEJBeFLRJ�omR\�DELB?Q?ELo?Be� OjBL� 1BRGCOL'� 5FGW?Bm� \� FJDRLF� CL� DEG|eFmDE'�d?BELp�FmDE'�/eQ?F?Q?�m�FmDE'��\NOe�K?�O?BK?Ce'�7?S'�0?FDEJS@LF� EB?HJ� ?RJFJp� KLF� O?|C?@e� N?D@LBeFLEJ� TL@OJ� FmK� ToB?�'6?RJ� DEG|L� FGBCeRLD\p� @J� NGBGS�RJ� K?� DL@?Q?� O?BK?Ce� CLNBJDmR?O�2?R?CJCDIOGp�}?o�TLFEBL�MmRJS�KGCI�T?BJEJ�S?Q?'

#����W��������X

�mRJS�KGCI�T?BJ@?�O?BK?C'�PL�4\C?@�WeEJ�Q?R?DJ�RUKGSpOBJOJ�KmEGSp�BGF�HeK?oJ'�AR?NMm�BLKmRJp�o?�F|G�W?EJBJ�@mD\MmCG� oLWJRJ� MJFmRICJH� RUKGS'�2?� O?BK?Ce� NB?H?K\EI� WLD� FmKWLDe�DEG|m'�2GBGK�FGW?B?@�NB?�HLR?�KF?f�CL�O?C\H�omR\�?BLC?Q?N?\DLp��eOLUWJ� DRmKmF'��?SC?� F?CJ� NB?�HLRJp� @J� Be�JRJ� FCGTCLCe�NeEI'�`O�KJFC?�N?WeFLRL�DGoG�RUKJCL�F�MU�HFJRJCepQ?Km� T@LRUFLEJ'� XGT@G|CJS� |LRI� TL� /G@OmF}JC?Up� TL@?QJRL@Jp�RmDL@Jp�DEG|OL@J�m�DNLRGCJ@J�DGRL@J�m�FGRJOL�EeQLTL�DRLFCJ@J�o?\@Jp�TL�K?B?QJ@J�RG@OL@J�m�KBeT\@J�NmKNmRIC?�o?B?EIoJ'� 8� T� KBeQ?Q?� o?Oep� @J� SKG@?� F� CGTCLCGp� HFJRUfoL|LCC\� TeDEBmEJ� DF?Q?� O?@LCKJBL� m� DEBmRIMmFp� }?� T� CJ@FmKmS�RJ'� A?EmCC\� NB?K?F|eFLEJ� o?B?EIoe� KLRm'� `� EB?HJTL|eBJFD\'� :L� O?BK?C� N?omQ� FmDE'� /eQ?FJS� m� FmDE'� d?BENGBGFmBJEJp� WJ� f� KB?EJ'� <mDE'� /eQ?FJS� FGBCeFD\� mp� }?oNmKoLKI?BJEJ� CLD� eDmHp� ?oC\F�@GCGp� OL|eWJg� �6?@LCKJBGp� @JNGBGSKG@?�}LDRJF?'�X?Q�CL@�N?@?|G'�`�SKe�NGB�JSp�L�FJ�TL@C?U�'�=J�Nm�RJ�FB?TDJN'�:L�O?BK?Cm�OeR'�deNBJCL�DNmEOCeFD\EL� EBmDCeF� KJDO?@� FmK� OeRG@GEL'� X?RI�GFJOJ� MG� N?WeRJpFJDEBmRJRJ� EBJ� BLOGEJ� EL� N?WLEJ� DEBmR\EJ'� 6?RJ� EmRIOJ

�[q

N?\FR\RLD\�BLOGEL�FQ?Bmp�@J�TLR\QLRJ'�bLDCG�*�@J�KLRm�L|�K?RmDe'� <� RmDm� N?oLWJRJ� HLEep� N?FGBCeRJ� NBLF?BeW� m� ELO� Nm�RJjNm�RJ'� XmR\� DGRL�AL}?FL� CLEBLNJRJ� CL� oBeOFe� CL� N?Rm'� <DmNBJNLRJ� K?� CG�� T�|LK?o?Up� LRG� \� CLOLTLF� @LDOeFLEJ� RJDE\p}?o�WLD?@�m�N?Em@�F?B?Q�CG�NmTCLFp�OeKJ�@J�Nm�RJ'��mf��C?Wm@J� TB?oJRJ� oRJTIO?� Z�� OmR?@GEBmFp� L� TLOFLBEJBeFLRJ� O?R?CGTCLC?Q?�DGRL'�<KGCI�HR?NMm�FmKN?WJFLRJ�EL�BLKmRJp�}?�F|G�F5OBL�Cm'� 1� qwjmS� Q?KJCm� N?WLF� OBe|R\EJ� RmELOp� L� CL�=L�eBmFGRJOL�?oRLFL'��LDE\p�}?�@J�TLoReKJRJp�o?�F�NR\Cm�@J�@LRJKmDELEJD\�CL�=L�eBe'

U �"T�$"��Vc�%���

^X��v'��r�3pr�X

5FGW?Bm�Nm�RJ�K?�DGRL�4@GBGWOJ'�`�CLOLTLF�HR?NM\@p�}?oN?F?KJRJD\� WGDC?p� N?jF?\MIOJp� OBm@� HLBWmFp� omRI�G� CmW?Q?� CGFmRIC?�oBLEJ'�=J�TeDEBmRJ�FmFWLB\p�\OJS�DOLTLF�CL@p�}?�EeEp�CL5OBL�Cmp�f�eOBL�CDIOm�N?FDELCMm'�̀ �K?@?FJFD\�T�?KCJ@�Q?DN?KLBG@m�Nm�?F�T�CJ@�K?�BmKC?Q?�DGRL�FmDE'�_eo?F?Q?�*�bB?TI?FJ'�<�DGRmoeRJ� o?RI�GFJOJ'� 2BJ�HLRJ� CL� LFE?@L�JCLH� T� NDL@J'� `N?FGBCeFD\p�FT\F�?KC?Q?�FmFWLB\�m�CLOLTLF�FGDEJ�CLD�K?�2R?DO?Q?'6?RJ�@J�NBJS�RJ�K?�DGRLp�\�FmKNeDEJF�FmFWLB\p�L�DL@�TLS�?F�K?NGB�?�� HLEJp� KG� FmK� Q?DN?KJCm� K?FmKLFD\p�}?� MG� DGR?� XLoJCL'd?@e�ELO�TB?oJF�FmFWLBp�CG�TCLU'�PLoReKJF�Lo?p�Ke@LUWJp�}?E?� o?RI�GFJMIOL� NB?F?OLMmSCL� QBeNLp� F@JDCG� ELO� TLFmF'� PN?DNmH?@�@J�Nm�RJ�CL�Q?Be'�7?TFJKC\R?D\p� m�@J�T@e�GCm�oeRJTLOFLBEJBeFLEJ�F�CGFGRJWO?@e�N?EmWOep�F�O?BWJOLH'��mRJS�KGCICLFO?R?�WeRJ�N?DEBmRJ�m�FDG�OBe|R\F�RmELO'

5FGW?Bm� \� FT\F� T� D?o?U� DE'� FmDE'� `F?BLp� DLC'�2LCJWL� m� TCJ@J�Nm�?F�e�DGR?�<JMmF'�5�DGRm�\�CL@LQLFD\�NGBGO?CLEJ�?KC?Q?Q?DN?KLB\p�}?� @J� DF?�p� HLS� TF+\|G� CLD� T� N?FDELCM\@J'� 8RGQ?DN?KLB�CG�DOLTLF�Cm�DR?FL'�PLRJ�JRJ�S?Q?'�<�N?Rm�SKG�?KCL|mCOL'�̀ �N?WJCLU�T�CGU�B?T@?Fe'�<?CL�@GCm�DOLTLRLp�}?�HR?NMmFEeE� CG@Lp� L� F� DGRm� oLQLE?� o?RI�GFJOmF'� 7e�Lf@?� TFmKDmRI� eCLNB\@m� DGRL� 2R?DO?Q?'� 2mK� ?KCJ@� RmD?@� TeDEBmRJ� FmFWLB\pDELB?Q?�W?R?FmOLp�\�NB?@?FR\U�S?@e�K?�DGBM\p� m�FmC�KLf�@GCmN?EBmoCm� mC~?B@LMm�'

<� 2R?DOm@� \� @LF� TCLS?@JH�}G� T� qkZZ� B?Oep� O?RJ� EeE

�[.

OFLBEJBeFLF�T�D?ECGU��XeRLFL�'�0?Km�@?f�NDGFK?�oeR?�0?N?R\'`� Nm�?F� K?� TCLS?@?Q?� Q?DN?KLB\p� LRG� E?S� CG� H?EmF� NeDEJEJ@GCG�K?�HLEJ'�`�oeF�T@e�GCJS�TLSEJ�K?�HLEJ�WGBGT�FmOC?'�<HLEm� Q?DN?KLB� FKLFLFp�}?�@GCG�CG� TCLf'� b?DN?KJC\�CG� H?EmRLK?TF?RJEJ� FLBJEJ� �DEJp� LRG� DEBmRIMm� DL@m� N?WLRJ� WJDEJEJoLBLo?RUp�o?� Q?R?K�*�E?�FGRJOJS�NLC'�:LKF?Bm� DE?\RJ�CL�mDEmSOJ�S�TLDELFJ'�2mDR\�EBJFLR?��B?T@?FJ�KmFWJCL�K?QLKLRLD\p}?�@J�DF?�p�m�DOLTLRLg��`O}?�FJ�DF?�p�E?�FmKH?KmEI�DO?B?�F�RmDpo?�CGKLRGO?�F?B?QJ�'� >�KmSDC?'�X?RI�GFJOJ�?oDGBFeFLRJ�CL�BeHp�WGOLUWJ�CL�TLDmKMm'�=J�?oGBG|C?�FmKDEeNJRJ�K?�RmDe'�<RmDm�TeDEBmRJ�?ToB?fCJH�RmD?BeomF'

.q� DGBNC\� @J� DJKmRJ� O?R?� DGRL� 2R?DO?Q?'� 0J@� WLD?@N?WeRJD\�N?DEBmRJ�S�FJoeH��BLCLE'�5FGW?Bm�\�Nm�?F�CL�B?TFmKOeK?�DGRL�2R?DO?Q?p�KG�K?FmKLFD\�FmK�KmFWLEp�}?�DI?Q?KCm�o?RI�GFJOJFoJRJ�EBI?H�N?FDELCMmFp�L�?KJC�FEmO'�1KCL�KmFWJCL�6'�NmTCLRL@GCGp� m�@J�F|G�BLT?@�CLToJBLRJ�oeRIo\CJOmF� m�FmKB?�@?R?OLp}?o�HR?NMm�CG�Q?R?KeFLRJ'�2mDR\�E?Q?�@J�OFLBEJBeFLRJ�N+\EIKCmF�O?R?�DGRL�2R?DO?Q?p�L�KmFWLEL�C?DJRJ�CL@�HLBWm'�:L��?DEJSKGCI�Nm�RJ�K?�DGRL�:LCWmFOJp�K?�OjBL�0LBLDOLp�TF+\TLEJD\'�2mKWLD� CL�?Q?� N?DE?U� KmFWLEL� ?oGBG|C?� DRmKOeFLRJ� TL� CL�J@BeH?@p�?QR\KLRJ�ToB?Up�DEmSOJp�NBJDReHLRJD\�K?�B?T@?Fp�}?o?DELE?WC?�DEFGBKJEJp�WJ�@J�WLD?@�CG�NB?F?OLMmSCL�QBeNL'�>KeWJK?�OjBL�0LBLDOLp�\�ELO?|�o?\FD\�NB?F?OLMm�p� m�KJFC?�FBLTJR?@GCG�EGp�}?�eFGDI�S?Q?�NmKFmKKmR�oeF�e�o?RI�GFJMIOJH�@eCKJBLH'8RG� DO?B?� @J� NmTCLRJ� ?KJC� ?KC?Q?p� o?� @J� KBeTm� T� �F?SCJ�pN?WLRJD\� B?T@?FJp�|LBEJp� D@mHJ'� 6jB� 0LBLDO?� NBJSC\F� CLDKe|GjKe|G�BLK?�m�TL?NmOeFLFD\�CL@Jp�\O�oBLE'

�X���Wi�r�'�s'���'��� ��'

dGBGT�KFL�EJ|Cm�\�TeDEBmFD\�T�DF?�@�O?@LCKJB?@�O?R?�DGRL:LCWmFOJp�F�RmDm�4?DCJCL'�dJ�FJ�e\FR\fEG�D?omp�\O�@JR?�m�}LDRJF?TeDEBmEJ�DF?Q?�O?@LCKJBLp�}?�T�CJ@�\�F?UFLF�BLT?@�e|G�W?EJBJB?OJ'�6?@LCKJB�E?WC?�FJNJELF�@GCG�NB?�DEBmRIMmFp� �H�CLDEB?�pWJ�WLD?@�O?EBJS�CG�oeF�e�BeOLH�F?B?QLp�\O�NBJSC\RJ�NmKNmRICmOLKBJ�FmDEOep�}?�D?ECm�FmKmS�RJ�CL�5OBL�Cep�KG�N?KmRJD\�oeCW'2BJDNmFp� N?RmEFJH?FCJO�4?R?@OLp� O?@'�2��4?OmRp� W?E'�_eC\tNB?� DEBmRIMmFp� EGBGC?FJOmF� EL� TLQLRIC?� NB?� /G@OmF}JCe':LS@GC�L�KBmoCJWOL�S?Q?�MmOLFJRLp�FmC�eDG�TLNJDeFLF'

�[�

0?Q?�}G�KC\�O?@LCKJB�oeF�@m|�DEBmRIM\@Jp�\Om�BLKmRJp� \OKmEJ'�6?@LCKJB�NBJKoLF�KR\�CLD�HLBWmp�omRJTCep�@eCKJBJp�FTeEE\'5Dm�@J�oeRJ�FK?F?RGCm'�:L�KBeQJS�KGCI�O?@LCKJB�NGBGKLF�@GCm�}GQBeNe� EGBGC?FJOmFp� \Om� NGBGS�RJ�CL�5OBL�Ce�BLCm�G� FmK�@GCG':LOLTLF� CG� Q?F?BJEJ�@mDMGFJ@�N?FDELCM\@p� HE?� m� DOmRIOJ�CLDNGBGS�R?�T�TLOGBT?CDIO?Q?�OBLU�CL�5OBL�Cep�o?�EeE�Kmf�FCeEBm�C\L�GCEeBL'��G�@GCG�EB?HJ�FBLTJR?p�LRG�NmTCm�G�\�FDG�TB?Te@mF'

��p���r���s�(j������p

�q� DGBNC\� O?R?� DGRL� :LCWmFOJp� F� RmDOe� b?BJO?FL� `@LpFmKoeR?D\� DF\E?� ToB?�'�A?W�NLKLF� DJRICJS�K?}p� L�NmK�C?QL@JoeRL� QB\TUOLp� TmoBLR?D\� EeE� O?R?� k�� N?FDELCMmF'� 4EBmRIMmpO?@LCKJBJ� 528p� NB?FmKCJOJ� m� BG~GBGCEJ� EGBGC?F?�?BQLCmTLMmSC?��DmEOJ'��G�TmoBLCC\�TB?oJR?�CL�CLD�Ke|G�QLBCGFBL|GCC\'�PmS�RJD\�EeE�O?@LCKJBJ�m�DEBmRIMm�528�/G@OmF}JCJp2GBG@J}JCJ�m�4L@omB}JCJ'�P+fKCLRL�CLD�DF\EL�ToB?\'

XeF� EeE� OjB� N?B'� 6LB@GRUO� T� DF?fU� ?H?B?C?U�oeCW'�0JQBJDp�W?E'��eOp�FmDE'�4mBJSp�FmDE'�7eKJSp�FmDE'�beMeRpFmDE'�7eKJSp�FmDE'�6eRJO�m�@L�JCmDEOL�6DGC\�'

6?@LCKJB�DE'�oeR'�0LBLDO?�T�DF?�@�NmKFmKKmR?@p�}?�FDRLFJFD\F� o?\H� CL�/G@OmF}JCm� T� WGBF?CJ@J� N?R\OL@J� m� CL� 5OBL�Cm� To?RI�GFJOL@J'�0eE�\�oLWJF�oeR'�<mRIC?Q?p�B?S'�DE'�FmDE'�7eoLC\pB?S'�DE'�FmDE'�6?TLOLp�B?S'�DE'�FmDE'�_?Foe�L�m�B?S'�DE'�FmDE'�<LCIOepW?E'�P?BM\p�DE'�FmDE'�PmBOep�DLC'�de@LOL'

6jB� FmKKmRe� �XLDGSC�� H?B'�=JB?C� T� ?H?B?C?U� �W?E'�2LDpFmDE'�<JH?Bp�FmDE'�XeSCJSp�DE'�FmDE'�XLSKLO�'

XeF�BG~GBGCE�CLKBLS?Ce�PJ@CJS�T�o?S?FJOL@J�XJDEBJ@m�b?BKJ@p�d?BC?EL�T�DEBmRIMG@�XJSjPLoJS�m�<mS'

7LS'�BG~'�4X�d?BC?EL�T�DF?�@�FmKFL|CJ@�OeRG@GECJO?@jDHmKC\O?@�dLSO?Up�2mR\O?@�m�4EGN?FJO?@'

:L�m� DRLFCm� m� FmKFL|Cm� KmFWLEL� T� /G@OmF}JCJg� 77� 41EBGEI?Q?� BjCe� 0GE\CLp� @L�JCmDEOL� CLKBLS?Ce�=LBELp� 77���KBeQ?Q?�BjCe�=LBmSOLp�77�Q?DN'�NGB�?Q?�BjCe�_e@L'

XeF�N?B'�ABmCp�T�CJ@�DE'�FmDE'�AJEBJS�m�FmDE'�7JoLROL'�XeR?}G�oLQLE?�mC�JHp�NDGFK�\OJH�CG�TCLU'

4F\E?�FmKoeR?D\�Ke|G�eB?WJDE?'�A?B'�=JB?C�NB?FmF�TomBOepDORLF�TFmE�OjB?Fm�FmKEJCOe�N?B'�ABmC?Fm'�2mDR\�TFmEe�FmKoeR?D\DF\E?�T�ELO?U�NB?QBL@?Ug

�[Z

q��PFmE'.��=?RJEFL�eOBL�CDIO?Q?�BGF?RUMm?CGBL�*�DE'�FmDE'�7eoLCI'���=?FWLCOL�TL�FNLRJH�QGB?�F'Z��2B?@?FL�N?B'�ABmCL'[��7G~GBLE�H?B'�=JB?CL'Y��_GOR\@LMm\�=LBmSOJg��<mELSp�HFJR\DEJSp�Q?BKJS�RmD��n��2mDCmg��/eCLf�ORJW�p��_?F?Rm�OBJFK��m�mC�m'w��=LB��528jPLHmKg��=J�RJMLBm�oGT�|LHe�m�oGT�D@GBEJ�'4F\E?� TB?oJR?� Ke|G� QLBCG� FBL|GCC\� CL� FDmH� NBJDeECmH'

A?W�MmRJS�WLD�NLKLF�K?}p�CmO?@e�CG�H?EmR?D\�FmKH?KJEJ'5FGW?Bm�@J�Nm�RJ�K?�HLE�O?R?� DGRL�:LCWmFOJ�=LR?�p� \Om

N?FDELCMm� CLTJFLRJ� <m~RGf@?@'� 0eE� NGBGDJKmRJ� CmW'� 7LC?� \FmKmS�?F�Tm�DF?�@J�HR?NM\@J�F�RmDp�KG�N?oLWJRJ�@GCG�RmD?BeoJpeOBL�CMm� T� 45P'� <?CJ� Nm�RJ� F� DGR?�:LCWmFOe� m� DOLTLRJp�}?oLWJRJ� F� RmDm� DLBCp� LRG� CG� DEBmR\RJp� o?��O?KL'�2?o?UUWJDICLDO?Oep�\�T@mCJF�@mDMG�N?DE?U�m�NGBGS�?F�K?�RmDe�XLKI?FLp�KGOFLBEJBeFLF�O?@LCKJB�e�NB?F'�X?SOL'

Y�W��������� �� �

4NB?oeU�DHLBLOEGBJTeFLEJ�N?FDELCMmFp�L�T?OBG@L�F?\OmF528�PLOGBT?CDIO?Q?�OBLUp�EL�N?BmFC\EJ��H�T�N?FDELCM\@Jp�}?o?BUEID\�NmK�o?RI�GFJMIO?U�?OeNLMmfU��_B?Q?oJWWJCL�'

2?RmEJWC?�FJB?oRGCm�\O�?KCmp�ELO�m�KBeQm�?KCLO?F?'�PCLCC\CL�?�� mKG?R?Qm�� EL� FTLQLRm� RmEGBLEeBJ� TLDF?fCG�CL�PLOGBT?CCmoLQLE?�DRLo�Gp�Cm|�CL�5OBL�Cm'�2?jNGB�Gp�E?@ep�}?�F�CLD�H?W�moeRJ�FmKN?FmKCm�RUKJp�LRG�MJ@�CmHE?�CG�MmOLFJFD\p�L�N?jKBeQGpFmSDIO?�oeR?�F�o?\Hp� m�CL�MG�CG�oeR?�WLDe'� >�Emp�S� mC�m�OLKBJoeRJ� mKGSCm'� 8RG� TLOGBT?CMmFp� NGBGKeDm@� F?\OmF� 528pHLBLOEGBJTeFLF�B?T@LHp�o?S?FJS�QLBEp�FmKFLQL�*�omS�KR\�CJHoeF�TLoLF?Up�TRUE?FLCmDEIp�OLBCmDEIp�F?CJ�CG�oeRJ�NBJF+\TLCmK?�?KC?Q?�EGBGCep��@�oeR?�?KCLO?F?g�WJ�F?UFLEJ�CL�/G@OmF}JCmpWJ� CL�2GBG@J}JCmp� WJ� CL� 4R?FLWWJCmp� WJ� NmK� 6JfF?@'� �Gp@?|RJF?p�N?DELR?�F�CLDRmK?O�oGTCLDELCCJH�o?�F�m�BGSKmF'�0eE�\TLNBJ@mEJFp�}?� F?\MEF?p� L� NGBGKeDm@� EGBGC?FJOJp� NBJF+\TLCmEmRIOJ�K?� DF?Q?� DGRL�WJ� EGBGCep� oBLOef�e�CJH�B?T@LHep� F?CJo?\EID\� F?B?QL� m� KG}?� NBJQC?oRGCm'� P� CL�J@� NBJH?K?@� eDmoeRJ� FK?F?RGCmp� CLDEBmS� NmKC\FD\p� L� DEBmRGMEF?� Em�JR?D\p�}?}?SC?� EGNGB� oeKG� F?UFLEJ'�6?@LCKCJS� DORLK� e� TLOGBT?CMmF

�[[

OBL}JSp�omRI��K?DFmKWGCJS�m�TLQLBE?FLCJS'�<?\OJ�FJEBJFLRm�Fo?\H'�0eE�O?@LCKCJS�DORLK�TL�@LRJ@�FJSC\EO?@��H?B'�=JB?Cm�DE'�oeR'�0LBLDO?��DRLo�JS'��G�N?DELR?�F�CLDRmK?O�CGK??MmCOJ528� KG\OJ@J� NB?FmKCJOL@J� MJH� BLS?CmF� EL� RGO?FL|C?Q?DELFRGCC\�K?�FmSDIO?FJH�~LHmFMmF'��:LNBJORLKp�K?�N?B'�:mWOJ�'<mSDIO?� EeE� CG� BGSKefp� L� NGBGDJK|ef� O?R?� DmR'� ^KJCJSOjB�0LBLDO?�WLD�FmK�WLDe�FmKDOLOef�CL�OmRIOLCLKM\EI�OmR?@GEBmFm�B?oJEI�TLDmKOJ'

`O�@m|�?KCJ@Jp�ELO�m�KBeQJ@J�N?@mECL�E?FLBJDIOL�fKCmDEI':LE?@mDEI� o?S?FL� fKCmDEI� omRI�G� N?@mECL� e� TLOGBT?CMmF'�:LPLOGBT?CCm�FCeEBm�Cm�L�GCEJ�EBLNR\RJDI�Ke|G�BmKO?'�=?|RJF?pE?@ep�}?�N?R\OJ�CG�oeRJ� TKmoCm� FNHLEJD\�F�CL�m� RLFJp� H?W� m@LRJ�o?RI�GFJMIOJH�K?BLKCJOmFp�FmSDIO?�@LR?�@GC�JS�O?CELOET� B?KJCL@Jp� L� CLDGRGCC\� F� TLQLRIC?@e� OBLSCf� F?B?|GCLDELFRGCG� K?� F?B?QL'� :LE?@mDEI� EeE� o?RI�GFJOJ� BmTCJ@JDN?D?oL@J�FNHLRJD\�F�CJTJp�@?CEeUWJ�DF?U�L�GCEeBCe�DmEOe':LDGRGCC\�EeE�@GC�G�LOEJFCG�F�o?B?EIom�T�F?B?Q?@'�=?|RJF?pE?@ep�}?�CG�oeR?�ELOJH�o?S?FJH�KmSp�\O�CL�PLOGBT?CCm'

:L�5OBL�Cm�N?@mECG�ELO?|p�H?W�m�F�@LRJH�B?T@mBLHp�FTLf@CGCGK?FmB+\'�=m|� F?\OL@J� 528p� \O� ?KCJ@Jp� ELO� m� mC�J@Jp� SEGBGC?FJOL@Jp� \O� ?KCJ@Jp� ELO� m� KBeQJ@J� �B?Te@mU� EeE� EmRIOJCJTJ�p�N?@mECG�EGp�}?�F�528�f�oLQLE?�omRI�G�OLBC?DEJp�N?DReHem�O?CEB?RU'�=LR?�FJoLQRJF?DEJ�CL�HLBWm�m�FJQ?KJ'�<T\F�J�BLT?@FDmHp�@?|CL�DOLTLEJp�}?�F?CJ�CGEGBNR\WG�O?|CJS�WGOLf�FmSCJ':JTJ�S�FJ}JS�NB?FmK�CL�5OBL�Cm�N?DELFJRJD\�K?�CLD�Ke|G�K?oBG'4OBmTI�CLD� FJBmTC\RJp� WLDEeFLRJ� m� FJTCLFLRJp�}?�@J� F?UFLRJWGDC?� S� DRLFC?'� :LE?@mDEI� @m|� KG\OJ@J� BLS?C?FJ@JNB?FmKCJOL@Jp�L�CLFmEI�CLKBLS?FJ@J�BG~GBGCEL@J�m�NB?FmKCJOL@JWeF�\�NBJOBm�KR\�CLD�FJDR?FJp�}?��N?R\OmF�CL�PLOGBT?CCm�@?|CLoeR?�oJEJ�NLRJM\@J�m��LNOL@J'�1E�DNB?oeSEG�N?F?UFLEJ�EeE�'=J�S�N?F?UFLRJ'�<J\FJR?DIp�}?�TLOGBT?CMm�F@mRJ�OBL}G�oJEJo?RI�GFJOmF� EeE� CL�5OBL�Cmp� Cm|�@mDMGFm� N?FDELCMm'�:LE?@mDEICJTJ�PLOGBT?CC\�@GC�G�TCLRJ�O?CDNmBLMmUp�F?B?|e�L�GCEeBCeB?o?Eep�F�W?@e�N?FDELCMm�CL�5OBL�Cm�oeRJ�OBL}G�?TCLS?@RGCm�mF@mRJ� OBL}G� O?CDNmBeFLEJD\� m� FJ�eOeFLEJ� F?B?|e� L�GCEeBe'<mSDIO?FJS�FJ�OmR�e�TLOGBT?CMmF�DE?\F�CL�oLQLE?�FJ}?@e�N?TG@mpCm|� EeEp� CL� 5OBL�Cm'� �G� @mS� N?QR\Kp� m� CL� MU� EG@e� \� CG� BLTKJDOeEeFLF�Tm�DF?�@�O?@LCKJB?@�EL�T�@mDMGFJ@J�O?@LCKJBL@Jp}?�F�omRI�?DEm�N?Q?K|eFLRJD\�Tm�@C?U'

�[Y

U��]����W�

6?RJ� \� NBJS�?F� e� RmD� CL� XLKI?Fep� @GCG� CLKTFJWLSC?TLMmOLFJRJ�KFm�BGWmg�4X�DE\QLR?�DRmKDEF?�T�Oe}'�X?QKLCL�m�Oe}'ae@C?Q?'�6?RJ�\�o?O?@�K?FmKLFD\�NB?��H�UKJCe�TBLKRJFe�B?o?EeEL� o?RI�GFJMIOJS� NmKDEeNp� E?� NB?DE?� CG�@mQ� FJSEJ� T� KJFL'� 5TF+\TOe�T�MJ@�\�NB?DJF�O?@LCKJBLp�}?o�N?Q?F?BJF�T�CL�J@JDEBmRIM\@J�EL�KLF�FOLTmFOJ�O?CDNmBLEJFC?��N?FGKmCOJ�CL�5OBL�Cm'6?@LCKJB�KLF�oLQLE?�FOLTmF?O�m�NBJORLKmFp�\O�F?B?Qp�E?@e�}?�CG@?|G�TCJ}JEJ�CLD�?oRLFL@J�S�TLDmKOL@Jp�H?WG�CLD�B?TORLDEJNBJ�K?N?@?Tm�FCeEBm�CI?��L�GCEeBJ�m�TCJ}JEJ'

2mDR\�B?T@?FJ�O?@LCKJBL�T�DEBmRIM\@J�\�B?TN?FmF�NB?�KG\OmN?Km�p�}?�@LRJ�@mDMG�CL�/G@OmF}JCmp�NB?�}?�O?@LCKJB�CG�TCLF'1KJC�|LCKLB@�T�D?ECm�OjBL�bB?@GCOL�?N?FmKLF�@GCmp�O?RJ�\�oeFF�Oe}m�CL�ABG}LEmSp�}?�S?Q?�D?EC\�oeRL�?E?WGCL�F�DGRm�_?oB\CMmF�RmDm'�2?�O?B?EO?@e�o?U�F?CJ�Nm�RJ�F�CLDEeNp�NB?BFLRJD\�m�FomRJS� KGCI� Nm�RJ� F� CLNB\@m�6LBNLEp� N?FT�4\C?Op� WGBGT� DGR?2BeDfOp� N?� K?B?Tm� �H� KGF+\EI� BLTmF� ?E?WeFLRJ'� PLoBLOR?� F|GL@eCmMm�'�2B?BFLRJD\�WGBGT�TLRmTCJMU�F�DGR?�0eBJCDIOGp�KG�N?WLRJNGOEJ�oLBLo?RU'�_G\Om� DEBmRIMm� T+�RJ� TLEBefCe�OLNeDEep� m� EB?fTLHF?BmR?'�4?EC\� NBJS�RL� \OBLT� F� EG� DL@G�@mDMGp� TFmKOJ�@JFmKDEeNLRJ'� XeR?� MG� q�� OFmEC\'�:L�m� DEG|m� \OBLT� oLWJRJp�}?\OGDI�FmSDIO?�NmKH?KJEI�T�0eBJCDIO?Q?�F�RmDp�LRG�@J�CG�TCLRJp}?�E?�D?EC\�OjBL�bB?@GCOL'�6?RJ�@J�S�RJ�CL�DELC?FJ}Lp�WeRJ?KJC�N?DEBmR�T�NmDE?R\�F�RmDm'� >DE?Bm\�E?Q?�N?DEBmRe�ELOLg�?KJCo?S?FJO�*�0GBOL�FmK�6LBRL�*�NmK�WLD�@LB�e�D?ECm�FJDEeNJF�TB\Ke� F� O?BWm'� V?Q?� N?oLWJRL�|LCKLB@GBm\p� N?WLRL� DEBmR\EJpKe@LUWJp�}?� MG� N?R\Op� m� N?BLCJRL� S?Q?� F� C?Qe'� 0GBOL� oeF� FN?RIDIOmS� eCm~?B@m'�6?RJ�NmTCLRJp�}?�MG� DFmSp� NBJS�?F�S?Q?BmKCJS� oBLEp� }?� oeF� B?S?FJ@� e� D?ECmp� FT\F� S?Q?� CL� BeOJp?oMmReFLF�m�F?DELCCf�N?NB?}LFD\'�7LCGCJS�0GBOL�CL�NB?}LCC\NB?DJF�oBLELp�}?o�CG�RJ�LF�S?Q?�CG�E?BEeBJ�N?R\OL@p�HLS�D?omTLoGBG�CL�NL@+\EOe�oRUTOe� m�W?o?EJ�EL�K?DEBmRJEI�S?Q?'�XBLEMI?Q?�N?KLBeCOe�CG�H?EmF�NBJSC\EJp�E?Km�0GBOL�N?NB?DJF�\O?Q?DIDEBmRIM\p�}?�oeF�?oKGBEJSp�KLF�S?@e�oRUTOe�m�W?o?EJp�N?KLF�}GBeOep�OL|eWJg���G�KLf�E?om�o?�FOLB�0GBOL�'�2?Em@�0GBOL�OBJOCeFg�2B?}LSEG�KBeTmp�HLS�|JFG�5OBL�CL��*�m�K?DEBmRJFD\p�o?�TTLKeTL�CJ@J� QCLRJD\�N?R\OJ'�2mK� FGWmB� D?EC\�OjBL�bB?@GCOL�oeRLTC?Fe�O?R?�CLDp�LRG�@J�KLRm�CG�TCLRJp�HE?�MG'

�[n

"� ���'��� �

<|G�OmRIOL�KCmF�NLKLUEI�DJRICm�K?}m'�=?��DEBmRIMm�BLT?@�T@mDMGFJ@J�H?K\EI�K?�DGRL�XLCKB?FL�N?�oLBLo?RU�m�@+\D?'�<�WLD?KCmf��TRJFJ�\p�RG|LWJ�NmK��LEB?@p�TQLKeFLF�DF?��@JCeRm�RmELp�LFBG�Em�?Wm�@?��TeNJCJRJDI�CL�CL�JH��LEBLH'�2mK�?KCJ@�DJK\EI@?��DEBmRIMmp�?QR\KLUEI�C?Fm�@eCKJBJp�}?�NBJS�RJ'�2mK�KBeQJ@�LEB?@�BG~GBGCEJ�4X�DE\QLUEI�NB?E?O?RJp�NmK�EBGEm@�DEBmRIMmQ?EeUEI�@+\D?�m�oLBLo?RU�K?�?omKep�NmK�WGEFGBEJ@�DJK\EI�CL�mDRLFCm�KmFWLEL�m�EJHGCIO?�NGBGN?FmKLUEI�D?om�\OmDI�DGOBGEJp�F?CJW?@eDI�De@Cmp�CGFGDGRm'�:LBG�Em�NmK�?DELCCm@��LEB?@�oeRJ�EBJO?@LCKJBJg�N?B'�ABmCp�N?B'�6LB@GRUO�m�H?B'�=JB?C'�_FL�NGB�mQBLRJ�TLFT\E?�F��LHJp�L�EBGEmS�DeKKUFLF'�<Dm�F?CJ�KBeTm�T�FmSCJ'=mS� O?@LCKJB� KR\� O?CDNmBLMm�� CLTJFLF� N?B'� 6LB@GRUOL2LMLRJH?Up�L�MGS�@?Q?�O?@LCKJBL�*�2LCIO?@�0?Bo?U'�1oJKFLF?CJ�Ke|G�E?FLBJ�eFLRJ'�bBL�F��LHJ�oeRL�ELOL�TLFT\ELp�}?�Cm?KJC� T� CJH� CG� H?EmF� �DEJp� L� NB?� \OeDI� B?T@?Fe��O?KL� oeR?Q?F?BJEJ'� >�?F� omS� CL� �LHmFCJMm'� 2?B'� 6LB@GRUO� *EBJKM\EJN+\EJRmECmS�@e|WJCLp� L� DF?fU�N?DELF?U� m� T?FCm�Cm@FJQR\K?@�CLQLKeFLF�@GCm�TLN?B?|M\p�HE?�o�CG�QR\CeF�EGNGB�CLCI?Q?p�O?|CJS�DOLTLF�oJp�}?�MG�NLBEJTLCDIOJS�O?@LCKJB'

A?B'�=JB?C�*� DeH?BR\FJSp� FJD?OJS� \DC?oRI?CKJCp� TC?D?@� BJ@R\CJCLt� NBJ@OCGCm� eDEL� T� FeTGCIOJ@J� QeoL@JQ?F?BJRJp�}?�FmC�K?oBJS��LHmDE'

PLOmCWJF�J� QBep� F?CJ� omR\� F?QCU� TLF?KJRJ� KJDOeDm�� CLN?RmEJWCm�EG@Jp�}?�CGTFJWLSC?�MmOLFJR?�DEBmRIMmF'�0mRIOJ�F?CJN?WCeEI�}?�Q?F?BJEJp�\O�TLBLT�NmKDeFLUEID\�DEBmRIMmp�}?o�}?DIMmOLFG�N?WeEJp�o?�Q?F?B\EI�O?@LCKJBJ�528'

U�oW�����W��W�i���

PjNmK��LEBL��KmFWLE�N?EJHGCIOe�K?H?KJEI�K?�@GCG�RG@OmFDIOLNmDC\p� ?KCL� TL� KBeQ?U'� X?OL@J� NmKDeCeRJDI� @mDMGFm� DEBmRIMmp}?o�N?DReHLEJ��Hp�o?�EeE�ELOJH�CmHE?�CG�DNmFLf'�8�\�K?KL@p�}?ELO�m�CmHE?�CG�F@mF�DNmFLEJ�QLBC?p�\O�F?CJ'

G�����������.)���/��%/!������ �0��+1����/ ��,�,������(��(��/��&�����������������

�[w

<?CJ�CLWGo�m�CG�oLWJRJ�DReHLWmF�EL�S�TLFGRJ�KBeQeg

�(�&���0K����&������������/��&��''�������/�����%����1�/I� &� ���/�(� ����������

`�FmKWeFp�}?�F?CJ�@LUEI�\OJSDI�|LRI�EL�EGNGB�TB?KJRLD\e�CJH�EeQL� TL�K?B?Q?U�/G@OmF}JC?U'�1NmDR\�N?WLRJ�DNmFLEJNmDCUg��1S�FGB�G�@mS�FGB�Gp�@mS�TGRGCJS�FGB�Gp�e|�@m�ELO�CGoeKGp�\O�@m�oJR?�FNGB�G�'�7LNE?@�eBFLRJ�m�TL@?FORJ'

2?FDELCMm�DReHLRJ�S�FmKmS�RJp�\�FDELFp�NmKmS�?F�K?�CJH�mN?oLWJFp�}?�CL� ?WLH� oeRJ� DRI?TJ'�2JELUp� W?@e�NRLWeEIp� LRG|?KCL�CG� KLRL�@GCm� FmKN?FmKm'� `� DmF� D?om� CL� RLEOe�omR\�CJH� mN?WLF�OBL\EJ�oLOeC'�<?CJ�K?�@GCG�DELFJRJD\p�\O�K?�KBeQLp�CGO?CDNmBeFLRJ�CmW?Q?p�E?@e�T��HCI?��B?T@?FJ�\�DO?B?�K?FmKLFD\NB?�NBJWJCJ� �HCI?Q?� D@eEOe'�4X� DE\QLf� T� CJH� DRmKDEF?p� CmoJF?CJ�CGNGFCmp�@LUEI��H�KLEJ�?OBG@?�CL�DELCMmUp�o?�CL�5OBL�CmF?CJ�NBLMUFLEJ�CG�@?|eEI'��\�CGDNBLFGKRJFmDEI�eBLTJRL�@GCGp\�TCLU��H�O?|Ce�T?OBG@L'�5Dm�F?CJ�mKGSCm�S�NGFCm�N?FDELCMm'2?DmKLRJ� FmKN?FmKCm� N?DEJp� NBLMUFLRJ� WGDC?� CL�/G@OmF}JCmpoBLRJ� LOEJFCe� eWLDEI� e� o?B?EIom� m� CLFmEI� F� o?\H'�2GBG|JRJF?CJ�DEBL�CJS�Q?R?Kp�|LHRJFm�?oRLFJp�KGD\EOJ�BLTmF�FJBJFLRJD\T�?omS@mF�D@GBEJ'�:G�Nm�RJ�NmK� T?Cep�\O�KG\Om�NB?FmKCJOJp� LoGT� ToB?�� NGBGS�RJ� O?BK?Cp� Q?C\EI� TL� CJ@J� o?RI�GFJOJp� LF?CJp�N?B?ToJFLCm� m�N?OLRmWGCmp�?oKGBEmp�o?Dmp�K?ReWLUEID\�K?DF?�Hp�}?o�KLRm�NB?K?F|eFLEJ�o?B?EIoep�L�EeE�?DI�\OG�DELFRGCC\'`�FTLQLRm�TLNBJ@mEJF�KJFCG�DELFRGCC\�K?�KmFWLEjN?FDELCMmF'�`N?WLF��H�B?TBLK|eFLEJp�HLS�F?CJ�CG�|eB\EID\�EJ@p�o?�NB?�MGK?FmKLfEID\�FJ}JS�NB?FmK�m�CG�K?TF?RJEI�CL�ELOG'

>�DNBLFKm'�2?�OmRIO?H�KC\H�DELFRGCC\�K?�KmFWLE�T@mCJR?D\'<?CJ� KmDELRJ� DF?f� NBJTCLWGCC\'� _BeQ� 0GE\CL� NGBGS�RL� K?O?@LCKeFLCC\� FmKEJCOe� @L�JCmDEO?Up� L� \� O?@LCKLCE?@?H?B?CJ'

V��'����W

5D\�CL�L�QBeNL�NGBGC?DJEID\�T�MI?Q?�RmDe�CL�Q?Be�6LC?CJomR\� DGRL� 4EBmRIoJWmp� L� N?Em@� e� RmD� @m|� 4ELB?U� 4mRRU� m0LBCLFO?U'� _?� CLD� NBJfKCLRJD\� N?FDELCMm� T� AJBmF}JCJ� TNB?F'�b?B?oO?@p�NB?N'�/GoGKG@�m�BG~'�4X�0J@?�G@'�0LO�DL@?�T

�[k

4ELB?DL@omB}JCJ� T� NB?F'� 7?@LC?@p� NB?N'� =LBEJC?@� mBG~'�4X�PGRGCJ@p�@?�@�O?RJ�Cm@�O?@LCKJB?@p�}?�@LF�NDGFK?7GC'�XeF�ELO?|�NB?N'�XeO?FJCGMI�m�aBL@p�OjB�4ELH�T�DF?�@JF?\OL@Jp� ELO� }?� CLD� eDmH� TmoBLR?D\� O?R?� q.�� ?Dmo'� _BeQ<GBH?FJCGMI� TB?oJF�CL@�oLQLE?� TC\E?O'�<�K?B?Tm� TLNBJ@mEJF\p� \O� KG\Om� BG~GBGCEJ� D@LRJRJ� ?WJ@L� TL� CL�J@J� KmFWLEL@JjN?FDELCM\@Jp�L�CLSomRI�G�TL�0GE\C?Up�}?�oeRL�Ke|G�QLBC?Up@LRL�QLBCe�N?DELFep�OLBm�?Wm'�<?CLp�TLNBJ@mEJF�J�MGp�DOLTLRL@GCmg��`O?��omKJ�F?CJ�CL�@GCG�TLQR\KLUEID\�'�`�FmKN?FmFg��0Lo?� FJ� RLKCm�'� 8� F?CL� @GCmg� �<� MU� BGF?RUMmSCe� KmSDCmDEI� \H?EmRL�o�oeEJ�N?QLC?Up�E?Km�N?WeFLRL�o�DGoG�}LDRJF?U�'

2mDR\� MI?Q?� FDI?Q?� OjB�ABmC� CLOLTLF� eDm@� B?TmSEJD\� CL@GC�m�QBeNJ�F�BmTCm�RmDJp�o?�@?|G�oeEJ�F?B?|JS�CLDO?O'

#��o ������

<�RmDm�CLK�4ELB?U�4mRRU�@J�TeDEBmRJ�NB?F'�1'�T�PLOGBT?CC\m� BLT?@� T� CJ@� Nm�RJ� F� XRL|mFDIOJS� RmD'� Z�|?FEC\� ?H?B?CLFmKmS�RL�T�NB?F'�1'�m�O?@LCKJB?@�F�KLRI�e�K?B?Qe'�=LB�ef@?WGBGT�2mKoe|WJCep�_B?Q?oJWWJCe�F�4OmRIDIOm�RmDJ'�2?�K?B?TmFmKReWJFD\�FmK�CLD�NB?F'�1'p�}?�}JB?�T�CL@J�NB?}LFD\'��URUKJCep�KG�\�EmRIOJ�CG�oeFp�DOBmTI�RUoJRJp��LCeFLRJ�m�N?FL|LRJ'deF�\�@m|�DEBmRIM\@Jp�}?�KBeQ�NB?FmKCJO�F�WLD�CLSDEBL�Cm�JH?oRLF�m�Q?R?Ke�mKG�K?�D?EGCIp�BGSKef�BLT?@�T�CJ@Jp�FJQ?R?�efNB?@?FJp�NmKEBJ@efp�N?FWLf�m�E'K'�V?Q?�TLDReQJ�FGRJWGTCm'�<mCQ?F?BJF� T� O?|CJ@� ?KCJ@p� O?|C?@e� KLFLF� eDG� EGp� W?Q?� S?Q?Ke�L�oL|Lf'��mRO?@�DRe�C?�DOLTLF�@mS�O?@LCKJBg��6?R?�E?Q?W?R?FmOL�\�F�K?B?Tm�@LF�eCmFGBDJEGE�'��mRJS�WLD�F�K?B?Tm�OjB�l'm� OjB�='� @LRJ� FJORLKJp� B?T@?FJ� m� KJDOeDm�� T� NB?FmKCJO?@'<mKReWJRLD\�FmK�CLD�O?R?�DGRL�4JCGFmKDIO?�Ke|G�QLBCL�RUKJCLp?OBe|CJS� BG~'� 4X� 4LSQ?B'� �G� oeF� @?R?KJS� W?R?FmOp� LRGCGTFJWLSC?� TKmoCJS'� P� FGDC?U� \� K?FmKLFD\p�}?� FmC� T� DF?fUKmFWJC?U�=DEJDRLF?U�Ke|G�H?B?oB?�oJFD\�T�o?RI�GFJOL@J�FWLD� CLDO?Oe� CL� oeCOGBp� KG�=DEJDRLFL� TCJ}JRL� T� OeRG@GEL�mDECLKM\EI�o?RI�GFJOmFp�m�DL@m�EL@�N?QJCeRJ'

4R'�N'�NB?F'�4LSQ?B��4ELRICJS��@LF�Ke|G�oLQLE?�MmOLFJHNBJQ?K� F� CLDO?OLH� m� o?\H� T� o?RI�GFJOL@J'� 1KC?Q?� BLTeqkZY�B?Oe�F�DGRm�XLCKB?Fm� ELO�S?Q?�?E?WJRJ�o?RI�GFJOJp�}?FL|O?� oeR?� FJBFLEJD\'� 6mRIOL� o?RI�GFJOmF� FH?NJR?� S?Q?� TL

�Y�

�JCGRUp�\Oe�FmC�DOJCeF�m�ELO�FJBFLFD\'�0L@�E?Km�FNLR?�OmRIOLo?S?FJOmFp�L�FmC�}G�T�?KCJ@�FB\EeFLFD\'

qZ�|?FEC\�F� DF\E?�528�o?RI�GFJOJ�CLDO?WJRJ�O?R?� DGRL6L@+\COJ� CL� OjBL�=JB?CL� m� S?Q?� DEBmRIM\�:LTLBL'� 0L@� F?CJFmKReWJRJD\p� L� @J� TFmKEJ� FmKmS�RJ� WGBGT� BmOe� 1NmB� N?@m|F?B?|J@J� �LBCmT?CL@J� T�OLEU�L@J�F�4JCGFmKDIOep� WGBGT�BmOe4EBJS�K?�Oe}L�_?BL'�0eE�@LRJ�oeEJ�Q?E?Fm�W?o?EJ�KR\�@GCG'�`KLF��OmBe�@mDMGFJ@�Oe}?FJOL@p�}?o�KLRJ�TB?oJEJ�@GCm�W?o?EJpLRG��FGMI�CL�WLD�CG�TB?oJFp�\�o?DJSp�L�CL@�EBGoL�FmKH?KJEJ'�<N?FmEBm� NLHCG� DCmQ?@'�_BeQ�4LSQ?B� TCm@Lf� T� DGoG� W?o?EJ� m� KLf@GCm'�=GCm� DELR?� Ke|G� NBJf@C?p�}?� e� CLD� ELOL� KBe|oL�@m|NB?FmKCJOL@J�S�DEBmRIM\@Jp�LRG�\�W?omE�CG�NBJSC\Fp�o?�CG�FJNLKLR?'0?Km�4LSQ?B� TC\F� T� DGoG��OmB\CJS�NRL}� m� KLF� KR\�O?@LCKJBL'6?@LCKJB�CG� H?EmF� ELO?|�NBJSC\EJp� LRG� FmC� DOLTLFp�}?� oeKGQCmFLEJD\'�<mKH?K\WJp�@J�N?NB?}LRJD\� T� KBeT\@J�N?FDELCM\@JpN?oL|LRJ�}LDRJF?��TJ@mFRm�EL�K?WGOLEJ�}LDRJF?��FGDCJ'

6?R?�DGRL�1B?FL�TLNLF�CLD�e|G�DCmQ'�XeR?�MG�qw�|?FEC\qkZn�B?Oe'�<�DGRm�����o?RI�GFJOmF�LBG�EeFLRJ�S�FJDGR\RJ�RUKGS'_?� DGRL� SEJ� CG�@?|CLp� L� HLBWmF� e� RmDm� CG@L'�2?FDELCMm� F|GDJK\EI�N?�DF?�H�oeCOGBLH�m�OBJ�FOLHp�TF+\TOmF�CG@Lp�m�FLBJ�bBJMUOL�e'�:L�L�QBeNLg�OjB�l'p�\p�DE'�FmDE'�7JoLROLp�FmDE'�/eQ?FJSpOeB+fBJ�4EBmRLp� 4?SOLp�1BGRp� DEBmRIMm� T� DELCJMm�*�XeBJS� mPmBOL�EL�N?@'�BG~'�4X�7?@LC'

4CmQJ� OBeE\EI� KLRm'�=J� TLRmTRJ� NmK� oeO?Fm� KGBGFLp� MmRJSKGCI�NLRJ@?�F?QCJ}Lp�L�K?�N?DReQ�@Lf@?�EmRIOJ�?KJC��OmB\CJSNRL}'� <Dm� @J� EmRIOJ� F� @LBJCLBOLH'� <C?Wm� oBGKG@?� N?� N?\DN?E?O?@� KFL� OmR?@GEBJp� }?o� CG� TB?oJEJ� DRmKep� K?� DGRL� N?oLBLo?RUp�LRG�O?RJ�\�K?FmKLFD\p�}?�o?RI�GFJOJ�F|G�N?FGTRJRUKGSp� E?� DO?WJF� K?� DeDmKCI?Q?� DGRL� 5BJWLp� FT\F� e� KF?HQ?DN?KLBmF�N?�NmF�DFJCOJ� m�NBJEBLCDN?BEeFLF�K?�RmDe'�0L�WGS|G�CL�L�5OBL�CL�FJ|JFJEI�DF?�H�N?FDELCMmF'�_BeQ�XeBJS�NBJCmDRmEB�DRJF+\COJp�\Oe�@J�EBJ@LRJ�KR\�FDmHp�}?�F|G�oBGRJ�N?E?O?@p}?o�CG�NGBGDEeKJEJD\'

.w�|?FEC\�K?ReWJFD\�K?�CLD�OjB�=JB?Cp�oGT�DE'�FmDE'�:LTLBLp}?�FmKReWJFD\�F�CLDO?Mmp�L�N?Em@�K?ReWJFD\�K?�NB?F'�1RGQL�m�TCJ@�TLQJCeF�.w�|?FEC\�qkZn�B?Oe'�=J�FFL|LRJp�}?�OjB�=JB?CTLQJCeF'�P�CJ@�NBJS�?F�TF+\TO?FJS�OjBL�X?BL�DE'�FmDE'�1BGRpELO?|�4NLBELOp�DRLFCJS�o?S?FJO�=LO?@LMIOJSp�o?S?FJO�`BO?S�mC�m'�<mK�NB?F'�4'�m�FmK�o?S?FJOL�='�KmDELRJ�@J�B\K�N?KLBeCOmF'

�Yq

_BeQ�=LO?@LMIOJS�Ke|G�Em�JFD\p�}?�NmTCLF�O?@LCKJBLp�NB?DJF?N?FmKLEJ�NB?�TLDmKOe�CL�4FfBWGFDIO?Q?�m�CL@?FR\F�@GCGp�}?o@J� FDm� Nm�RJ� K?� 0BeDOLFM\p� L� EL@� O?|C?Q?� T� CLD� CLDGRGCC\K?oBG�FoGBG�m�FTef'

2?� OmRIO?H� KC\Hp� H?W� KLRm� RG|JEI� DCmQp� oGT� TF+\TOmF� @JBe�JRJ�CLDRmN?�TL�?KCe�CmW�L|�F�4NBJCDIOm�RmDJ'�<�DGRm�1NLMmN?FGWGB\RJ'

:L� 4NBJCm� Nm�RJ� K?� TCLS?@JH� H?B'�=JB?CL'� _?� Emf�HLEJ� oeF� e@?FCJS� TCLOg� KFL� BLTJ� N?� EBJ� DEeOmE� K?� FmOCL� mORJWOLg�=JB?C� FmK�:mWOJ'� 0eE�@J� EB?�OJ� T+�RJ� m� Nm�RJ�CLMmRJS� KGCI� DNLEJ� K?� DE?K?RJ'� :L� KBeQJS� KGCI� @J� F|GOFLBEJBeFLRJ�F�RmDmp�L�KLRm�FmKmS�RJ�K?�DGRL�:LCWmFOJ'��4JCLEmf��Q?DN?KJCmp�7?@LCLp�CLDEeNC?Q?�B?Oe�LBG�EeFLR?�4X'�<mCoeF�TCLWCJ@�L�GCE?@p�@LF�DF?U�DmEOe�DGOD?EmFp�m�WGBGT�CI?Q?TLQJCeRL� CL�L� DNGMo?�FOL� F� 4L@o?Bm'� <mC� @LF� KFL� NmDE?RmpFKLFLFp�}?� OBJfEID\p� T� KeoGRIEmFO?U� H?KJF� CL� N?RUFLCC\pB?TFmKeFLFp�}?�EmRIOJ�@mQ�'

`��� ���X��S���"������

:L�?@e� N?F?B?E?Fm� TBLKmF� OjB� 0LBLDO?p� L� }G� omRI�GFEm�JFD\p� O?RJ� K?FmKLFD\p�}?� FmC� NBJTCLWGCJS� O?@LCKJB?@D?ECmp�CL�@mDMG�OjBL�=JB?CL'�:L��O?@LCKJB�KmDELF�P?R?EJSABGDE� X?S?F?�� PLDReQJ� qj?�� OR\DJ'� <Dm� @J� oeRJ� BLKmp� LRGO?@LCKJB�DOLTLFp�}?�HBGDE�CLRG|JEI�CG�S?@ep�L�S?Q?�DRLFCJ@F?\OL@'� A?B'�=JB?C� oeF� NBJTCLWGCJS� N?RmFJH?FCJO?@��h'_R\� CLD� eDmH� D?E'� 0LBLDO?� NBJQ?EeFLF� FGWGBU� e� Q?DN?KLB\�BOL�F�DGRm�:LCWmFOL�<GRJOL'�<�EGBGCm�oeR?�DN?OmSC?p�E?@e@J� DO?BJDEeFLRJD\� T� S?Q?� TLNB?�GCC\'� <GWmB� NB?S�?F� eKBe|CmS�LE@?D~GBm'�2mK�BLC?O�@J�B?TNB?}LRJD\'�`�FmKmS�?FK?� oeCOGBe� DE'� FmDE'� _?Foe�Lp� OjB� ABmC� K?� H?B'�=JB?CL� TDE'�FmDE'�7JoLRO?Up�FmDE'�/eQ?FJS�Nm�?F�K?�DE'�FmDE'�_G@?CLp�LDE'�FmDE'�1BGR�K?�oeCOGBe�oeR'�d?BC?Q?'�2BJ�FmKH?Km�@J�}JB?NB?}LRJD\p� oL|LRJ� D?om� FTLf@C?�}LDRJF?�� TJ@J� EL� TeDEBmWmCLFGDCm'� 2BJ� MI?@e� O?@LCKJB� DOLTLFg� �_Be|G�1DEB?FGBHepNJ�mEI�DN?@JCJ�NB?�DF?f�NGBGoeFLCC\�F�528p�FDm�N?Km�p�\OmEmRIOJ� TCLfEGt� @?|Gp� O?RJDI� mDE?BJOL@� FL�m� DN?@JCJNBJKLKeEID\�'

�Y.

�W���X����

:L�� oeCOGB� oeF� NmK� TG@RGU'�=G�OLCMmF� oeR?� q�� ?DmogDE'�FmDE'�_?Foe�p�DE'�FmDE'�X?QKLCp�\p�FmDE'�bBLCmEp�FmDE'�<?Q?CIpFmDE'� A@mRIp� FmDE'� :GTR?@CJSp� FmDE'� /JN?FJSp� FmDE'� <GDGRJS� mDLC'�d?BCJS'�6?@LCKJB?@�TJ@?F?��QBeNJ�oeF�DE'�FmDE'�_?Foe�pL�\�oeF�e�CJH�Q?DEG@'

1KC?Q?�FGW?BLp�O?RJ�}G�CG�oeR?�DCmQe� �?KJC�KGCI�NGBGKDF\E?@�DF'�LBHJDEBLEJQL�=JHL�RL��@J�Nm�RJ�K?�DGRL�2R?DO?Q?NmK�1B?FJS�NGBGKLEJ�QB?�m�KmFWLEL@�CL�TLOeNJ�KR\�CLD'�7LNE?@CL� CLD� CLDO?WJRL� DNGMQBeNL� o?RI�GFJOmFp� KmS�R?� K?� o?Up� F\O?@e� TLQJCeF� DE'� FmDE'�_?Foe�� m� FmDE'�/JN?FJS'�2?FGBCGCC\K?� oeCOGBe� oeR?� CL@� K?DJEI� De@CGp� o?� TLoBLOR?� @m|� CL@JKF?H� K?oBJH� KBeTmF'� 6?@LCKJB?@� QBeNJ� EGNGB� DELFDE'�FmDE'�X?QKLC'�:L�WLD�TJ@J�@J�@LRJ�mCDEBeOEL|p�NR\C�NBLMmpFJ�OmRICm�@LEGBm\RJ�m�RmEGBLEeBe'�_?�DGRL�F|G�omRI�G�CG�H?KJRJ'2?WLRJ� mKG?R?QmWCJS�FJ�OmRp� FJFWGCC\� mDE?Bm��5OBL�CJp� DEeKm�FmSDIO?FJH� NmKBeWCJOmFp� L� \� WLD� FmK� WLDe� NJDLF� Mm� DN?@JCJ'2?B\K?O�KC\�oeF�ELOJSg�FmK�DFmELCOe�K?�FGW?BL�DE?\RL�DEmSOLCL� oeCOGBmp� L� FC?Wm� ?KJC� WGBQ?FJS� FLBJF� �DEJ� m� TLBLT?@� oeFLR\B@?FJ@'�<DELFLRJ�@J�?�YjmS�Q?KJCm�BLCOep�FDm�@JRJD\�TJ@C?UF?K?U�K?�N?R?FJCJp�N?Em@�FmKoeFLRLD\�DNmRICL�@?RJEFLp�L�\�FDGFJQ?R?�eFLF� @?RJEFe� eOBL�CDIO?Q?� BGF?RUMm?CGBL� EL� ?KJCNeCOE�KGOLR?Qe'�2mTCm�G�oeR?�DCmKLCC\'�<mK�wj?��K?�q.j?��Q?KJCJoeRJ�TLC\EE\p�N?Em@�KFm�Q?KJCJ�?omK?F?��NGBGBFJp�L�KLRm�K?�Yj?�Q?KJCJ�TC?Fe�TLC\EE\'�2mDR\�Yj?��Q?KJCJ�O?|CJS�N?RLQ?K|eFLFDF?��DNBLFJ'�1KCm��JRJp�KBeQm�DNmFLRJp�L�O?RJ�S�RJ�DNLEJp�E?O?|CJS�TL�WGBQ?U�@eDmF�?N?FmKLEJ�\OeDI�BmWp�|LBEJp�?N?FmKLCC\pNBJQ?KJp�N?OJ�FDmH�CLD�CG�R?@JF�D?C'

:L�DF'�=JO?RJ�@J�KmDELRJ�N?KLBeCOJ�FmK�KmFWLE�T�DGRL�2'`�?KGB|LF�QLBC?�FJ�JFLCe�HeDE?WOe�m�NRGEGCJS�T�O?BLRJOmFEBJTeoGMIp� EB?HJ� EmDEGW?Op� MeOGB?O� m� \oReO'� PLNB?�eFLRJCLD�KmFWLEL�CL�8CKBm\p�LRG�@J�N?K\OeFLRJ�TL�TLNB?DJCJp�o?oeF� CLOLT� O?@LCKJBL� MmRe� TJ@e� oGT� N?EBGoJ� CG� FJH?KJEJK?�DGRL'

2mK� TG@RU�MI?Q?�B?Oe�\�Nm�?F�NGB�JS�BLT� F�|JEEm'�5DmTJ@Jp� \Om� \� NGBG|JF� e� NLBEJTLCDIOmS� o?B?EIomp� NB?H?KJRJDN?WLEOe�F�DGRLHp�L�?DELCC\p�TJ@L�qkZYjZnp�F�RmDLH�oGT�oeCOGBmFm�O?RJo'�PLF|KJp�O?RJ�\�KJFRUDI�CL�OLRGCKLBp�NmTCm@J�FGW?BL@Jp

�Y�

O?RJ�@?��KBeTm�DNR\EIp�NBJQLKeUEID\�@GCm�BmWCJMm�DRLFCJH�o?�FF�2GBG@J}JCm�m�/G@OmF}JCm'�/JCe�Ke@OL@J�F�@JCeRGp�TQLKeUK?oBJH�KBeTmF�m�O?@LCKJBmFp�}?�FNLRJ�CL�N?Rm�DRLFJ�Lo?�EGNGBB?ToBGRJD\� CG� EmRIOJ� N?� 5OBL�Cmp� LRG� S� N?��JB?O?@e� DFmEe'=?�H�KBeTmF�FmK�DGBM\�F|G�CG@L�@m|�|JFJ@J'�/J�JFD\�}G�@mSO?@LCKJBt�\�WLDE?�Ke@LU�NB?�CI?Q?p�NB?�EGp�\O�S?@e�TJ@efEID\'

2BJf@C?� NJDLEJ� DN?@JCJ'� /UKJCL� TLoeFLf� CL� HFJRIOeFDGp�N?BJCLf�F�DRLFCG�@JCeRGp�NBJQLKefEID\�B\K�OLBEJCp�F?CJFmKC?FRUUEID\� F� e\Fmp� m� NLKLUEI� @?�� F?\MIOm� DRI?TJ� CL� ?MmDOB?@Cm�TLNJDOJjDN?@JCJ'�=?|Gp��H�HE?�eN?B\KOefp�N?NBLFJEIpFJKBeOefp�L�@?|Gp�F?CJ�RG|LEJ@eEI�F�\OmSDI�OBJ�FMmp�Lo?�TLoGBG�H�F?B?Q�T�E?Q?�oeCOGBe'�7mTCm�CLNRJFLUEI�Ke@OJ'

>� ELOp� N?BJCeF�J� e�@Bm�p� RUKJCL� TLDJCLf� T� Ke@O?Up�}?C?F?Q?�NBJCGDG�FGDCLp�O?Q?�TeDEBmCG�FGDC\CG�D?CMG'�`�FmBUp�}?NB?�@GCG�CG�TLoeKG�@mS�O?@LCKJB�m�CLNJ�G�@?��DN?@JCJp�L�\OCG�FmCp�E?�0GE\CLp�}?�RUoJEI�FmSDIO?�m�MmCJEI�S?Q?�DRLFCm�N?KFJQJ'

:G�QCmFLSEGD\p�}?�ELO�NJ�ep�LRG�\�H?We�oeEJ�}JBJ@�m�?KFGBEJ@'4F\E?�q�RJDE?NLKL�m�.q�RJDE?NLKL�*�DF\E?�XLTLBe�@J�FmKTCLWJRJ

DOB?@C?'�`�EmRIOJ�FJQ?R?DJF�O?B?EOe�NB?@?Fe'�5�oeCOGBm�FDm�@GCGRUoJRJ�m�N?FL|LRJ'�6?|CG�@?f�DR?F?�DReHLRJ�eFL|C?�m�EBJ@LRJD\@?�H�N?BLK'�5Dm�TCLRJp�}?�\�@LU�o?S?FJS�K?DFmK'

4E?\WJ�CL� DEmSMmp� \� WLDE?� WeF�CLFO?R?� F?B?|m� N?DEBmRJN?�RmDLH'

P� OmCMG@� QBeKC\� KmS�RJ� K?� CLD� De@Cm� FmDEOJ'�2?@GB� CLEJ~�DR'�N'�D?E'�0LBLDO?'�2RLOLRJ�TL�CJ@�DEBmRIMmp�\O�@LRm�KmEJ'_mSDC?�oeR?�TL�OJ@�NRLOLEJ'�:GTFJWLSC?�FmKFL|CJS�O?@LCKJBpELOE?FCJSp�B?Te@CJSp�KBe|CmS�m�FGDGRJS'�V?Q?�RUoJRJ�CG�EmRIOJDEBmRIMmp�LRG�eDm�N?FDELCMmp�N?FL|LRJ�NB?FmKCJOJp�L�CLDGRGCC\CLTJFLR?�S?Q?��CL��0LBLDO?�'

_BeQL� FmDEOL� K?CGDRLp� }?� o?RI�GFJOJ� CLDO?WJRJ� CLTJ@?FJS�oeCOGB��W?E'�7eoLC\p�F�\O?@e�TLQJCeR?�OmRIOL�DEBmRIMmFpEL�CL�oeCOGB�DE'�FmDE'�<LCEOJp�KG�FDm�FJS�RJ�}LDRJF?'

�Wr�������X����W

4O?B?� @JCLRJ� KCm'� `� m� CG� DE\@JFD\p� O?RJ� CLoRJTJRJD\7mTKF\Cm�DF\EL'�:G�TCLUp�\O�e�O?Q?p�LRG�e�@GCG�7mTKF\Cm�DF\ELFJORJOLUEI� \OmDI� KJFCm� N?WeEE\� m� CLDEBmS'� �mRJS� KGCI� @J

�YZ

Q?EeFLRJ�KB?FL�CL�FDm�EBJ�KCm�DF\Ep�B?oJRJ�N?B\KOJ�F�oeCOGBmpQ?EeFLRJD\p�\O�CL�FmRIC?@e�DFmEm�F�BmKCmS�HLEm'�6eEU�F|G�TFLBJRJ@JCeR?�� C?Wm'� 8� FDG� mC�G� oeR?� Q?E?FG� T� NBJH?K?@�4F\E?Q?FGW?BL'�6?RJ�D@GBOR?p�NBJS�?F�DEmSO?FJS�DEBmRGMI�m�N?FmK?@JFp}?�F|G�FJKC?�TmBOe'�=J�N?WLRJ�DO?B?�NLRJEJp�FLBJEJ�o?B}pNJB?QJp�L�CL�TLFEBL�*�DEeKGCJCe�m�Q?ReoMm'

6?RJ�FGWGB\�oeRL�F|G�Q?E?FLp�CLOBJRJ�NLRLEO?U�RG|LCOepN?DELFJRJ� HRmop� DmRI� m� WLDCJO'�2B?WJELRJ�@?RJEFep� L� N?Em@� \FJQ?R?DJF�NB?@?Fe'�7?KJCJ�?KCJH�DEBmRIMmF�KLRGO?�CL�4JomBepmC�JH�*� N?QJCeRJ� FmK� F?B?|JH� OeRIp� }G� NB?� mC�JH� CG@LFmDEOJ'�`�TQLKLF�DF?�H�BmKCJHp�@L@ep�oBLEL'�_G�F?CJ�EGNGBp�WJ|JFmp�WJ�Ke@LUEI�F�MU�HFJRJCe�NB?�@GCG'

2BJ� FGWGBm� oeR?� Ke|G� De@C?p� L� ?NmDR\p� O?RJ� N?WLRJO?R\KeFLEJp�B?TFGDGRmRJ'

5�DGBMm�\�}JB?�oL|LF�}LDRJFJH�DF\E�eB\K?Fm�5b<7p�eDm@N?FDELCM\@�EL�FDI?@e�eOBL�CDIO?@e�CLB?K?Fm'�8�\O?DI�H?EmR?D\@GCm�oeEJ�EGNGB�eDUKJ�CL�FDmS�5OBL�Cmp� TLQR\CeEJ�K?�O?|C?�HLEJp� L� \O� Cmp� E?� NmEJ� CL� /G@OmF}JCe� m� EL@� DL@?@e� ?KC?@eDF\EOeFLEJ� DF\EL� CL� CL�mS� K?B?QmS� ABG}LEmS'�=?|Gp� HE?DIDOL|Gp�}?�\�KJFLO'�:m'�`�DE'�FmDE'�528�0?N?R\p�E?Sp�}?�F?UFLFCL� K?RLH'� `�1DEB?FGBHp� E?Sp�}?� F?UFLF� N?� Q?BLH� m� DEBm@OJHFGBHLH'

2GB�JS� m� KBeQJS� KGCI� DF\E� NB?S�RJ� FGDGR?'�:L� EBGEmSKGCI�*� DF'�4EGNLCL'� `� NBJQLKLF� D?om� KBeQLjO?@LCKJBL'�_GCIS?Q?� m@GCJC'�dJ�E\@JEI�FmCp�\O�@J�S?Q?�F+\TLRJ�CL�7?Nm�omR\_?oB?�� CL� XmBWLC}JCm� qkZ['� X?S?FJOJ� P?B\CJS� �T�6?@LCWm�p_BLNLO��T�ALBOmF}JCJ�p�`FmB��T�/eWJCGMIp�N?F'�7?QLEJC��NRGRJD?R?@+\CJS�@?EeTp� L� o?S?FJO�XJDEBJS� F+\TLF� BeOJ�S�C?QJp� LFmC� OBJWLFg� �XmSEGD\�X?QL'�_LSEG� H?W� DEmSOe�'�8� EL@�oeRL�CG?KCL�DEmSOL'�XeR?��H�OmRIOLp�o?�Q?DN?KLBm�DeDmKCmH�HLE�NBJH?KJRJT�N?KLBeCOL@J�FmC�eFLEJ'�<mC�CG�@LF�WJ@�FJOeNJEJD\p� L|�\S?Q?�@eDJF� FJOeNJEJ'

4F\EL�NB?S�RJ�CL@�e�DNmFLH�O?R\K�m�N?FDELCDIOJH�NmDGCI'

p�'

2?�DF\ELH�@J�FT\RJD\�TC?Fe�K?�CLeOJ'�..�DmWC\�FmKTCLWJRJDF\E?�KGB|LFC?DEJp�L�.k�*�DF\E?�6BeE'

�Y[

<� N?R?FJCm� RUE?Q?� DE?NJFD\� DCmQ'� 2BJomQ� DEmSO?FJS� mN?FmK?@JFp� }?� CGKLRGO?� FmK� CL�?Q?� ELo?Be� WeEJ� B?T@?Feo?RI�GFJOmF'�PoJBLf@?�FDm�DF?��BGWmp�\�TLO?NeU�DN?@JCJp�}?oCG�N?NLRJ�F?B?Q?Fmp�B?oJ@?�TCLOJp�WJ�F?B?Q�oeKG�F�oeCOGBmp�mFmKDEeNLf@?'��mRJS� EJ|KGCI� NGBGDJKmRJ� F� DELB?@e� oeCOGBm'2?Em@�\�Nm�?F�T�EBI?@L�DEBmRIM\@J�NGBGFmBJEJp�WJ�o?RI�GFJOJoeRJ� F� oeCOGBm'�:mp� CG� oeRJ'�2?FGBCeRJD\� CLTLK'� `� FJO?NLFDF?��TLNJDJ�Tm�DN?@JCL@J�m�NJ�e�KLRm'

]��� ���� �����

_e|G�LOEJFCL�DNGMo?�FOL�oLCKJEL�6BJFGCOL�oGTCLDELCC?NGBG�eOef� N?E?OJ� N?� RmDLH� TL� oeCOGBL@J'� 0?S� D?oLWJS� DJCF|G� FJQCLF� OmRIOL� CL�JH� TJ@?FJH� QBeN'�=Lf� NGB�?B\KC?CLRLKCLCe�DmEOe�DGOD?EmF'�=eDJ@?�oeEJ�Ke|G�?oGBG|Cm'

1KC?Q?�KC\�DE?�EI�CL��DEmSO?FJSp�L|�EeE�CL�CI?Q?�CLRGEmFF?FWeB'�<mC� DN?WLEOe� Ke@LFp�}?�MG� F?FOp� LRG�NGD�N?KJFJD\� mN?omQ� F� CLNB\@mp� TFmKOJ� K?RJCLRJ� Q?R?DJ'�=J� FDm� FJomQRJ� ToeCOGBep�TLSC\RJ�DELC?FJ}L'�<mK�CLD�\OJH�.��@GEBmF�NB?H?KJEIQBeNL�o?RI�GFJOmF'

:G�@JCeR?�OmRIOL�KCmFp�\O�TC?Fe�LR\B@'�deEJ�N?DEBmRJ�m�FJoeHJ�BLCLE'�X?RI�GFJOJ�?E?WJRJ�CL�e�DELBe�OBJ�FOep�Ke@LUWJp�}?@J�EL@�TJ@ef@?'�AE?��FDJNLF��OBJ�FOep�CG�TCLf@?p�?KCLO�F?CLoeRL�B?TO?CDNmB?FLCL'�<�oGBGTCm�KCm�DELRJ�K?F�m�m�EBJF?|Cm�m'

Rm��'�s����tW���i�

Z�oGBGTC\�BLCO?@�\�N?WeF�DJRICJS�omS�F�DGRm�<?R?�JC?FmS'�G�NB?BJFLFD\�DE'�FmDE'�7JoLROLp�DE'�FmDE'�XLSKLO�m�FmDE'�XeSCJS'4GR?� oeR?� ?E?WGC?� o?RI�GFJOL@Jp� LRG� FmKFL|Cm� F?\OJ� 528eoJRJ� .� o?RI�GFJOmF� m� .� BLCJRJp� L� DL@m� NB?BFLRJD\'� <� BeOJF?B?QL� N?NLF� |JFMG@� bBm@� T� EGBGC?F?�� DmEOJp� FmC� H?EmFNGBGHJEBJEJ� o?RI�GFJOmFp� TLH?FLF� OBmDLp� NGBG?K\QCeFD\� FMJFmRICJS�?K\Qp�LRG�DGOD?E�T�MI?Q?�DGRL�S?Q?�FJKLF'�<mC�F�EUB@mEBJ@LfEID\� Ke|G� K?oBGp� CmW?Q?� CG� TBLKJFp� EmRIOJ� NGBGOLTLFg�_BeTm�N?FDELCMm'�̀ �CmW?Q?�CG�TBLKJF�m�CG�TBLK|e'�6BL}G�D@GBEIpCm|�TBLKL'�2B?�e�FLDp�@?RmEID\p�}?o�\�DO?B�G�F@GBp�o?�K?F�GCG�@?|e�FJEBJ@LEJ�DEBL�CJH�@eO�'

<L|O?�oeR?�KmDELEJ�FmK?@?DEmp�o?�RG|LF�DCmQp�?KCLO�NB?�MG

�YY

K?CGDRL�CL@�?KCL�KmFWJCL�T�DGRL�2R?DO?Q?p�\OLp�CG�TFL|LUWJ�CLEGp�}?�N?�DGRLH�DOBmTI�o?RI�GFJOJp�FJQCLRL�HeK?oep�CmoJE?�DCmQ?@NB?QCLEJp�EL�TKLRGOL�CLD�N?mC~?B@eFLRLp�}?�KmfEID\�F�EGBGCm'

:GFK?FTm� o?RI�GFJOJ� TB?oJRJ� ?oRLFe� CL� RmD� @m|� <?R?j�JC?F?U�m�:LCWmFO?U'�<JQCLRJ�T�oeCOGBe�H?B'�7?@LCLp�}?�TKF?@L� QBeNL@J�NB?oJFD\�WGBGT�OmRIOL� TLDELF'�<�o?U�TLQJCeFFmDE'� <?FOp�}?�}G� TL�|JEE\� NB?DJF� KBeTmF� N?FDELCMmFp�}?opO?RJ�TQJCGp�N?H?FLRJ�S?Q?�omR\�OjBL�0LBLDOL'�4EBmRIM\@�oeR?FL|O?�NB?BJFLEJD\p�o?�F?CJ�}?SC?�TC?Fe�NGBGCGDRJ�EJ~'

.��oGBGTC\�DNGMo?�FOL�6BJFGCOL�CLDO?WJRL�CL�N?FDELCMmFe� OBJ�FMm� F� DGRm� bLRmFOL'� 0L@� TLQJCeF� BLS'� Q?DN'� b?BDIOJSpB?S'� DE'� FmDE'� XGBGTLp� DLC'� b?R?DCJS� m� o?S?FJO� 4EGN?FJO'7LCGCJ@� TKLFD\� F?B?Q?Fm� B?S'� DE'� FmDE'� 6?TLOp� CLB?oJF� Ke|GoLQLE?�RJHLp��FDJNLF��oLQLE?�DGR\Cp�}?�CL@�N?@LQLRJ'�<mC�\OJSDIWLD�TJ@eFLF�BLT?@�T�H?B'�7?@O?@p�\OJS�S?@e�DOLTLFp�F�O?EB?@eRmDOe� TJ@ef�OjB�ABmCp� o?� K?� E?Q?�oeCOGBe�H?KJF�H?B'�7?@LC'6?TLO�DOLTLF�o?RI�GFJOL@p�m�..�oGBGTC\�6BJFGCO?�DNGMQBeN?UCLDO?WJF� CL� oeCOGBp� F� \O?@e� oeF� OjB�ABmCp� ?KCLO� FDm� CL�m}LDRJF?�FJBFLRJD\p�CG�TLRJ�JF�J�F?B?Q?Fm�|?KCJH�@LEGBm\RmF'

2?F?Rm�NGBGDELUEI�NmCIOLEJ�DCmQeBmp�N?WJCLf�DFmEJEJ�D?CGWO?pTRLTJEI�DCmQp�L�@J�FJH?KJ@?�CL�N?R\CJ�QBmEJD\'�1p�O?RJ�o�DO?B�GCL�DFmE'��mOLF?p�O?Q?�TeDEBmCe�}G�@m|�|JFJ@J'��mf��TJ@J�N?FDELCMmTLTCLRJ�FGRJOJH�FEBLEp�\O�m�TJ@?U�@JCeR?Q?�B?Oe'

6?RJ� TmS�?F� DCmQp� \� KLF� DF?�� DN?@JCJ� TLH?FLEJ� CL�4mMmRmU�p�L�DL@�H?KJF��N?�RmDep�}?o�NBJTFJWL�EJD\�K?�@LB�e'

#� �7|�d���W���e�k�}N

n�OFmEC\�\�TeDEBmFD\�T�W?E'�2LD?@�T�?H?B?CJ�H?B'�=JB?CLp}?� K?BeWJF� @GCm� TLNJDOep� F� \OmS� DOLTLC?p� }?o� \� CGQLSC?K?ReWJFD\�K?�OjBL�N?B'�ABmCL'

qY�OFmEC\�BLT?@�T�H?B'�7'�EL�S?Q?�DEBmRIM\@J�\�NBJS�?F�CLe@?FRGCG�@mDMG�F�b?Bm�CI?@e�RmDm�DGRL�0eB+f'

<mK�E?Q?�WLDe�@GCm�NmKN?B\KO?FLC?�DEBmRIMmF�T�?H?B?CJ��hEL�OeB+fBmF�K?�D?EGCI'

<� ?H?B?Cm� oeRJ� DE'� FmDE'� 7JoLROLp� DE'� FmDE'� 1BGRpDE'�FmDE'�aFLBCJSp�FmDE'�/eQ?FJSp�FmDE'�=LOp�FmDE'��eOL'

PF+\TO?Fmg� DE'� FmDE'� bLS?FJSp� DE'� FmDE'�XLSKLOp� FmDE'� b?ReopFmDE'��BLCLELp�FmDE'�XeSCJSp�FmDE'�2?OmBCJS'

6?@LCKJB� m� FmDE'� 0GE\CL� NBLMUFLRJ� CLK� TFmEL@Jp� L� @?�@TLFKLCC\@� oeR?� CLRLKCLEJ� \OCLSDO?B�G� TF+\TOJ� T� D?EC\@JOjBL�bBeTJCLp�OjBL�7?@LCLp�OjBL�4ELHLp�OjBL�X?BL�m�OjBL�1BRGCOL'

<� CLDRmK?O� TJ@?FJH� eEBLE� TF+\TLEJD\� K?DJEI� EBeKC?'� <4RLF}JCe� \� FJDRLF� Y� OFmEC\� DE'� FmDE'�1BRLp� FmDE'� /eQ?F?Q?� mFmDE'��eOe'�<L|O?�oeR?� �@� TF+\TLEJD\'�1KCLO�O@mERJFm� F?\OJKLRJ�D?om�BLKep�TF+\TLRJD\�m�TL�.��KCm�}LDRJF?�FGBCeRJD\'�0J@WLD?@� oeRL� DeEJWOL� T� o?RI�GFJOL@J� F� DGRm� 7?D?HLWp� NmK� WLD\O?��DE'�FmDE'�1BGR�eoJF�?KC?Q?�o?RI�GFJOL'�:GFK?FTm�NBJS�RJK?� CLD� De@Cm� FmDEOJp� }?� CL� N?Rm� DRLFJ� TQJCeRJ� D?E'� XmBpD?E'� 1BRGCO?p� D?E'� N?RmEFJH?FCJO� 0LBLDp� W?E'� XLSBLOpW?E'�<?B?Cp�W?E'�6?oTL�EL�oLQLE?�mC�JH�NmKDELB�JC�m�DEBmRIMmF'

:L�G�|JEE\�CG�ELOGp�\O�e�D?ECm'�0BGoL�omRI�G�DJKmEJ�CL?KC?@e�@mDMmp�O?CDNmBLEJFC?'�_?DELFR\f@?�HLBWm�m�FDG�B?oJ@?ELO�?oGBG|C?p�}?�NB?�CLD�CG�TCLf�CG�EmRIOJ�MJFmRICG�CLDGRGCC\pLRG�CLFmEI�N?FDELCMm'�=eDJEI�oeEJ�DeF?BG�TLoGTNGWGCC\p�EJ�LpCG� FmRIC?� Q?R?DC?� Q?F?BJEJp� L� EJ@� omRI�G� DNmFLEJ'�=GCG� MGCeKJEI'�4OBmTI�F|G�N?WLRJ�FmKKmRJ�BeHLEJDI�F�EGBGCmp�L�\�@e�eDJKmEJ�m�N?RLQ?K|eFLEJ�DNBLFJ�mC�?Q?�HLBLOEGBe'

=GCG�ELO�E\QCG�NmEJ�N?F?UFLEJp�N?@DEJEJD\�TL�TLQJoRJHKBeTmF'

�Yw

*~6ghCh�D;6:6�6;6�=~A� d6*:<6�?<7;Ae7;<6C�7A�:A7:hD;Ch7;���I:hC7���=~A

d@?g76e� �� dgA7��7AejPNNkjPNK

*=ggA<h

����"�������u����������������� ���"�����-"%�+�(��������%�$�������������������p�{���{"��,�������qk.�����������"���"���� j "$���u�x �%��p���"���(���� ��(��{�p�-������ (� ����� "�%'�u��� ��u � ��{���� ��������"�� � �-"����� "����������� "�%��"���$� ��j "-�%��{� ��u��������"�(�{��������{"����������� "��� ",��p���)����%�������"���"�������$������(����qkZZp�"�%������%�����h� "�"����-"�(����� ���,��"�(p�qkZ[p���%��������%��$���������-� �"�'�"���� ��� ���{"�� "���$��%� ��� "� ����� ���"�%�%� ,(� �������p� ��"�h"��" ���� ���"�%�%�,(������p���������" �� " ��� �����������p�� ��"�(���$����i�'�Y����"��p������ "�%'��"���p����{"����"��u����%�����"������$������{�����������p����qkZnp���������" �� " ��� �����"����"�p� {����� ��� {"�� ���{�� ,(� ���� ��%��$����%� �"��������������'

������������{�����"��"��%�,(� ����"�����������"�-����%��u�����"�%��(-�%�,(��$�'������"�"�p�"��(-����"������.Z��" �� " ��� �����"����"�p� {����� ������������� {"�� ��� �"�$�� �u� �� ����(� �u�����" �� " ��� ��������"�%'���������������" ����$��"������%,(� "� %�uu������ ��%���%�" p� �"���" (� ,� ��$�{���� ������������ �u�������'

�������������%��%����,"�� ��{�����������������������-�����$����qwp�qkZw'�x��{"��������� (�{���%�%�������� �����"�%�����%������� ���,�� "-����%�" ������ �%������ u�{��������"����"�� ��u �'

������������ {���� ��- ���%� ��� ��-���,��� qZp� � qkZw� ,(�����"�"��"�%p���$������{����������������,(��������p�{���������,( �����������!�������#���-��"�%�-�, ����%�������� �p�����"�(���qk[�'

� ���"�����-"%�+�(��,�$���������"��"���������"� ��qZp�qkZZ{�������{"����"��u����%����������"������u�������"���"���v� �"�(�� � �� ��� ������(��"p� ������ ��$���'� ���������p� ���{"�� ", �� ��������" (� )����������"���"����%��$����%'�x��%�� ��,���,"�� ��

�Yk

{������������"��p�"�%�����r��,"�%r�"���p�r,����"�%��"r"���{��������%�"��$�"�%� ��-"����p�"�%������������-"�" ��������{��{�����-��"���$�,����%���������"�� ����'���������������"����"�����������$��������� �u� �� ���u� � ��%��$����%� �uu����� "���$��������"��" ������ ��"����" �"���"�%�r��,"�%r�"������������" �r�"�%����������� ����������u���"���j����"������$$ ��'�x��" ���%�j� ��,��� "�������$�{�������� "�� "��"�����{��� -"�" ����%� u���"�%��", �%�- "��'

���"%%���������%�� ��,��$��"������,"�� ���"�%������������{��������������"�%��� �������������� ����-�p� �� ��"��"��"�,���� ��{�� �����'��"�� � �{��� r�{���� ���� �� ������ �j��������� �u���ju�����{"���� �%p��������������%�� ��,������������, �� ��%��������u �u����uu���%�,(�������"���"��-�-� "����p�{�� ��u���%����� u��vj-���%��������� � �"����$�,(������� ��������������"�����������"�%�����������p���-� �" (�"������ ���u�������-� � (��u�u�� �, �������� �j������u���"���"���u����������"� ����" � "�%��"��u���������������"�%� "�������i����j!��������� "�%���� )"�!�� "�����qkZn�p�"�%���� "�%��" �����%�u��������"�('�x�����{����{���"���"�����j�����%������������ ������"�%���{������p�"����������%����p����� j ���u� (p�����%����%����-������������"��-� � ('���� ���� �����{�������p� ���� "������%�� ��,��� �"������ �" �� �� ���%�,(� ������"���"���%��$����%��������������$$ ��"$"���������� �-����p�,����������"�%��� ���'

�u�������������������������"����u�������"���"�� �,��"���������j�����"�������%�� ��-�������u���%��$����%�" ������������ "���qkZn�"�%qkZw�����������������%���u�����,��%��p�"�%���-� �" (�%�� ��-������u� ���� ���(� %�uu� � �� �u�� {�� �p� %����$� ����{������������p� {"���%���%��������,�������"�%���%������%�$�%��-��������u�� %��"�%u������'

�����$�������"��"����� �����"�-�{��u� � ����������"�%�%�%�j "������u��������������"�%����� ���"%��������������$$ ��u��� �,���("�%���%�-��%�� �p�-"��������p����� ����u��������--�����%���"���"�-��- �p�"�%�{� ��$���������" ��u� �����+�� �u�������%������,���$�u�������"�,������u�����'�������-�, � "������u��������������������,���������" � ���� �� (� u��� ������������� ,��� u��� " � {��� %��%� ����������$$ ��u��� �,���(��u�������"���"��-��- �'

�n�

������ ����&�&��� � �"Ub

������ ����&�&����� ��N���P� !�"���P� S

���������" ������%"�"� ����P� !�"����T�P� �� ��� ������P !�0�����/ �*��/ �"UP

�nq

!������ ����&�&��� �� �����P� �� ����P� T�P�"�� Q���P� � ���&���" �"UP

������ ����&�&���� �� ��N���P� !�"���P� "� �����P� O"�P� ��� �� S*��/ �"UM

�n.

������ ����&�&����������P�O"�P

���&������,�� �*���� �"UP

������ ����&�&���� S� U�"�V��������� O��" �&���� ����"� WX� G�*���*0�"U��������*T��B���/

S���*&B���

�$��[�R�]%U�T�V

���������W���'��� �� RW�� ��X� %#

���n�� S����W��� jPNMkNK

�nZ

RT�U �V�!V"��jPNM����%

<|G� WGEFGBEJS� BmO� o?B?EIoJ� CL� eOBL�CDIOJH� TG@R\HBGF?RUMmSC?Q?�NmKNmRR\p�528� m� FDI?Q?�eOBL�CDIO?Q?�CLB?Ke� TWGBF?CJ@�DLEBLN?@p�@?DO?FDIO?jo?RI�GFJMIOJ@�m@NGBm\RmT@?@EL�WGBF?CJ@J�N?R\OL@J'�2?@J@?�DEBL�C?Q?�EGB?Bep�NmKDEeNem�NB?F?OLMm�p�F?B?Q?Fm�CG�FKLR?D\�TCJ}JEJ�CL�?��ToB?SC?��DJRJp\OL� F� o?B?EIom� TL� 5OBL�CDIOe�4L@?DEmSCe�4?o?BCe�_GB|LFeTLNJDLRL�DGoG�T?R?EJ@J�RmEGBL@J�F�CL�mS�mDE?Bm�'�<JORUWC?�m�F?NGBEm� CL� FRLDCm� DJRJ� eOBL�CDIO?Q?� CLB?Ke� o?B?EIoL� NB?jK?F|LfEID\� KLRm'� <?\OJ� 528� m� BGF?RUMm?CGBJ� DEF?BJRJ� @mEQGB?�T@ep�oGT@G|C?��N?DF\EJ�EL�RUo?FJ�K?�DF?f��oLEIOmF}JCJ'

=J�KLRm�FGKG@?�NGBGK�@m|�N?CGF?RGCJ@J�CLB?KL@J�4447F� o?B?EIom� TL� NBLFL� CLB?KmF� m� RUKJCJp� TL� FmRICmp� DeFGBGCCmKGB|LFJ'

528p�TLQLBE?FLCL�F�oGTWJDRGCCJH�o?\Hp�DELFJEI�KLRm�Q?BK?W?R?� @?DO?FDIOJ@� ?BKL@� EL� �HCm@� CLS@JEL@�*� WGBF?CJ@N?R\OL@p� ?ToB?fCJ@�CLSC?Fm�J@J� TLD?oL@J� F?fCC?�� EGHCmOJ'<� EmS� CGBmFCmS� o?B?EIom� 528� @Lf� oGTRmW� NGBG@?|CJH� o?�FpTK?oeRL� FGRJOJS� o?S?FJS� K?DFmK� m� QLBEp� TLDE?DeFLRL� C?FeELOEJOep�}?�KLf�T@?Qe�m�TLN?BeOe�KLRI�?��eDNm�C?��o?B?EIoJ'

=J� f� DFmKOL@J� QGB?�WC?�� N?DELFJ� FmKKmRmF� 528jPLHmK'� PLRmCmfU�6GBT?CL� D?ECm� TF?K\EI�oGTWJDRGCCm� o?�'�4GBGK� Q?R?KepH?R?Kep� T� @LRJ@J� TLNLDL@J� L@eCmMm�� DELFR\EI� F?CJ� W?R?oLQLE?OBLEC?� NGBGFL|LUWJ@� DJRL@� F?B?QL'�2B?BJFLUEID\� F?E?WGCC\�F?B?|JH�KJFmTmS�m�NB?@?}eUEI�EL�NB?K?F|eUEI�DF?�NB?o?��ToB?fU�m�L@eCmMmfUp�TK?oeE?U�CL�F?B?Q?Fm'�2B?EJ�FmKKmRmF528�/G@OmF}JCJ�m�2GBG@J}JCJ�SKeEI�.jQL�N?RIDIOL�LB@m\�NmKO?@LCKeFLCC\@� FmMGj@mCmDEBL� ?o?B?CJ� QGC'� 4FfBWGFDIO?Q?pqwjEJD\WCL� LB@m\� WGDIOJH� O?@eCmDEmF� EL� B\K� CLSOBL}JHo?RI�GFJMIOJH� DNGMFmKKmRmF'� �PLOGBT?CC\�� K?F|JC?Un���OmR?@GEBmF�TL@mCJR?D\�F�NeDELB'�<?B?Q�e�FLBFLBDIOJS�DN?DmoFJOJCeF�eDG�CLDGRGCC\p�DNLRJF�DGRL'�<mKKmRJ�528�/G@OmF}JCJCG�@LUEI�HLBWmF�CGBLT�N?�KGOmRIOL�KCmFp�LRG�KLRm�DELFR\EI�W?R?F�OBJFLFJH�o?\Hp�TLDEGRUUEI�FmKFmWCm�TLHmKCm�eOBL�CDIOm�TG@RmF?B?|J@J� EBeNL@J'� X+UEID\� TL� O?|CG� DGR?p� @mDEGWO?p� TLO?|CJS�RmDp�Q?Be�m�N?RG'�4NGMm\RICm�We|?TG@Cm�O?BGDN?CKGCEJNBJ�TK\EI�CL�N?RG�o?Up�\OG�F?B?Q�CLTJFLf��N?ReKCI?F?jFDH?KCm~B?CE�'

�n[

=?QJRJ� CL�JH� F?�CmFp� }?� FNLRJ� CL� TLHmKCmH� O?BK?CLH5OBL�CJp�DELRJ�CGT@mCCJ@J�QBLCJWCJ@J�DE?FNL@J�eOBL�CDIOJHNBLKmKmFDIOJH�TG@GRI'

���

XmS�TL�/G@OmF}JCe�@J�TLOmCWJRJ'�0GNGB�mKG@?�NB?K?F|eFLEJo?B?EIoe�CL�DHmKp�TL�4\C'�:L��OeBmCI�F�DORLKm�EBI?H�D?EGCI�*@?f�p�OjBL�4ELHL�m�OjBL�X?BL�*�.k'Y'Zn�B'�T�TLFT\EJ@p�oBLFeBCJ@o?f@�NGBGH?KJEI�o?RI�GFJMIOJS�O?BK?C�omR\�DGRL�4\COJ'�<mKELOWGBGT� EBJ� EJ|Cm� NB?oJFLfEID\p� e|G� B?TWRGC?FLCJSp� OBmTI.�jEJD\WCe�o?RI�GFJMIOe�LB@mUp�OJCGCe�NB?EJ�CLD'

>C�m� FmKKmRJp� e� WLDp� O?RJ�=?DOFL� FCeEBm� m� TL� O?BK?C?@DF?fU�oBGHRJF?U�NB?NL�LCK?U�Q?BRLRLp�}?��oLCKJ�eOBL�CDIOJHCLMm?CLRmDEmF�e|G�TRmOFmK?FLCmp�}?�F�4447�mKG�@JBCL�NBLM\p�LF�DFmEm�oeKefEID\�KG@?OBLEJWCJS�RLK�p�e�WLDp�O?RJ�K?�=?DOFJT+�HLRJD\�@mCmDEBJ�TLO?BK?CCJH�DNBLF�CL�O?C~GBGCMmUp�WGBGTDGBGKCU�cFB?Ne�NB?oJRJD\�K?�L@GBJOLCDIO?��?OeNLMmSC?��T?CJF�:m@GWWJCe'�2m�RJ�F?CJ�T�CLOLTe�DF?Q?�N?RmEJWC?Q?�NB?F?Ke5b<7� m� b?R?FC?Q?�6?@LCKeFLCC\� 528p�}?o� TL@LCm~GDEeFLEJNGBGK�MmRJ@�OeRIEeBCJ@�DFmE?@p�}?�eOBL�CDIOL�CLMm\p����ToB?SCGBL@+\�528�EL����BGF?RUMmSCm�OLKBJ�o?BUEID\�KLRm�TL�5OBL�CDIOe4L@?DEmSCe�4?o?BCe�_GB|LFep� H?W� F� DFmEm� oeKeUEI�@JBp� H?WNmDR\�FmSCJ�*�F|G�KFL�B?OJ'

7GSK�CL�JH�FmKKmRmF�CL�PLHmK�oeF�FGRJOJ@�eKLB?@�N?�N?RmEJMm=?DOFJ'� 2B?� FJTF?RICe� o?B?EIoe� eOBL�CDIO?Q?� CLB?KeTLQ?F?BJF� DFmE'� <mKKmRJ� 528� N?OLTLRJp� }?� EGp� }?�=?DOFL?o?B?C\f� CL� @m|CLB?KCmS� LBGCmp� F?CL� N?o?BUf�|?BDE?OJ@J@GE?KL@J�F�DGoG�FCeEBm'

5DNmHJ�528�TLNLRUUEI�CL�m�DGBM\�CL�KLRI�e�o?B?EIoe�TF?B?Q?@'�:L�m�EBeKJp�CGFJQ?KJ� m�|GBEFJ�QLBEeUEI�CLD'�<mBCmCL�?@e� OGBmFCJMEFe� 5b<7p� b?R?FC?@e�6?@LCKeFLCCU�528pDEeNLf@?�CL�KLRI�JS��R\H�o?B?EIoJ�TL�5OBL�CDIOe�4L@?DEmSCe4?o?BCe�_GB|LFe'�2GBGK�CL@J�DR?FLp�@?FRGCm�.�'q�'ZZ�B'�F�DGRm/m}LFL�b?Bm�C\�@?�@�D?EGCCJ@p�DR'�N'�N?B'�A?@?Ug��=mS�N?F?B?EK?K?@e�NB?FLKJEI�WGBGT�FmRICJS�6J�F�'

���

dGBGT� RmCmU� 6GBT?CL� CL� 5OBL�Ce� NGBGH?K\EI� QBeNJN?FDELCMmFp� ?KCm� TL� ?KCJ@J'� <JDCL|GCm� Q?R?K?@p� N?Q?CGUp

�nY

FE?@RGCmp�LRG�DJRICm�KeH?@'�<?\MIOG�}LDE\�K?NJDef��@g�}LDRJF?NGBGH?K\EI�F?B?|m�KB?E\Cm�TLDmOJp�LR\B@?Fm�KB?EJp�F?FWm�\@J�mKFm�RmCm��F?B?|JH�TLDELF'

0BLNR\UEID\� F� Mm� KCm� @JRm� CGDN?KmFLCOJg� TeDEBmWLf@?o?S?FJH�KBeTmFp�}?��H�CG�oLWJR?D\�K?FQm�B?OJ'

<� 5OBL�Cm� TLQLRICG� NmKCGDGCC\p� FK?F?RGCC\� EJ@p� }?NB?H?K\EI� �PLOGBT?CMm�'� VKG� FJ@mCL� Ke@?Op� B?TN?FmKmpCLF+\TefEID\�KBe|oL'�P�eDmH�o?OmF�CLKH?K\EI�K?�@GCG�TLNJDOJFmK�KLFCmH�KBeTmFp�TCLS?@JHp�N?RmEJWCJH�NB?FmKCJOmFp�O?@LCKJBmFEL�F?\OmF'

=J� TCLS?@J@?D\� T� C?F?U� ELOEJO?U� o?B?EIoJp� O?CDNmjBLMmfU� EL� F?B?|J@J� NBJS?@L@Jp� L�GCEeB?U� m� FDm@� EJ@p�}?KR\�CLD�C?FG�F�NmKo?RI�GFJMIOmS�KmSDC?DEm'

���

PQmKC?�T�CLOLT?@p�q['w'Zn�B'�F�RmDm�NmK�4ELB?U�4mRRU�NGBGKLUDF?U� D?ECU� NmK� O?@LCKeFLCC\� OjB?Fm� 4ELH?Fm'��LRI� oeR?NB?}LEJD\� Tm� DF?�@J� TLFT\EJ@J� RG@OL@Jp� T� \OJ@J� \� T|JFD\pBLT?@�F?UFLFp�NGBG|JFLF�NBJf@Cm�EL�|LHRJFm�KCm'�:GoLQLE?��HF|G� TLRJ�JR?DIp� omRI�mDEI� TLQJCeRL� CL� N?Rm� o?Up� L� Emp� HE?DE?\F�O?R?�@GCGp� ?oEJBLRJ� DRI?TJ�CL� F?\MIOJH�?oRJWW\Hp� CL\OJH� FJKCmRJDI� oRJTCJ'

=GCm�K?BeWGC?�NGBGoBLEJ��6?@LCKe�<mKEJCOe�*�=LOmFOL*� .Z�'� _?� DGoG� TLoJBLU� @?Q?� CGFmKDEeNC?Q?� F?\OLpDE��FmDE'�7JoLROep�TLFT\E?Q?�NmKDELB�JCe�DE'�FmDE'�1DEB?FGBHLpo?S?F?Q?� NmKDELB�JCe� DE'� FmDE'� <JBFep� FmKFL|C?Q?� FmDEeCL/eQ?F?Q?p�TCL@GCJE?Q?�DEBmRIM\�FmDE'��eOe�EL�FmDE'�0GE\Ce�\O@L�JCmDEOep� \OL� O?RJDI� oeRL� B?TFmKCJO?@� F� D?ECmOjBL�d?BC?Q?p�L�NmTCm�G�*�BLS?C?F?U�BG~GBGCEO?U�5dA�CL/G@OmF}JCm'� A?B'�=JB?C� FJO?CeFLEJ@G�~eCOMmU� FJH?FCJOLFmKEJCOe'

���

PFJWLSC?� NmTC?U� ?DmCCU� FmKoeFLUEID\� ?DELCCm� TeDEBmWmpCL�\OJH�?oQ?F?BUUEID\�C?Fm�mCDEBeOMm��m�KmDELUEID\�C?Fm�CLOLTJ'<mKoeFLUEID\�FmKNBLFJ'�<�NGB�JH�KC\H�|?FEC\�@Lf@?�FmKH?KJEJF�?DmCCmS�BGSK�CL�FmKNBLFe'�0?@e�}?�EeEp�NmK�o?RI�GFJMIO?UKmSDCmDEUp� TJ@?U�|JEE\� N?FDELCMmF� CLT?FCm� TLF@JBLfp� EBGoL

�nn

NBJQ?EeFLEJD\�K?�TJ@J'�A?B'�=JB?C�K?BeWLf�DF?�@�F?\OL@�*W?E'�2LD?Fmp�DE'�FmDE'�XLSKLO?Fmp�FmDE'�<JH?BGFmp�FmDE'�4mB?@e�mFmDE'�XeSC?@e�oeKeFLEJ�TJ@?FJS�oeCOGB'�`�CLE?@mDEI�K?BeWeUDE'� FmDE'� <JBFm� m� FmDE'� 0GE\Cm� N?B?oJEJ� FmKN?FmKCm� TLOeNJOLCMGR\BmSC?Q?� NBJRLKK\� EL� FDI?Q?p� }?� CG?oHmKCG� FNLBEJTLCDIO?@e�|JEEm� TJ@?Up�NmK� TG@RGU'�7mFC?�|�K?BeWeUFmDE'� 0GE\Cm� FJFWJEJ� NJDLCC\� CL� @L�JCm'�=J� N?FGBCG@?� TL@mD\MI'

���

2GBGK�FmKH?K?@�@J�TeDEBmRJ�NB?FmKCJOLp�KBeQL�1BRLCL'�G�oeRL�KR\�CLD�?KCL�T�CLSNBJf@Cm�JH�TeDEBmWGS'��\�RUKJCLCL�PLOGBT?CCm�oeRL�TLQLRIC?�N?FL|LCL�m�RUoRGCL'�<mC�DF?fUCGFE?@C?U� NBLMGUp� mKGSCmDEUp� ELOE?@� EL� KBe|CmDEUpB?Te@mCC\@�NDJHmOJ�F?\OmF�m�BGF?RUMm?CGBmF�TK?oeF�FGRJOeRUo?F�K?�DGoG�m�LFE?BJEGE'�1BRLC�oeF�NB?FmKCJO?@�F�N?FC?@eB?Te@mCCm� MI?Q?� DR?FL'� >� CG� KJF?p� }?� NmTCm�G� @J� CLTFLRJWLDp� NGBG|JEJS� T� CJ@� DGBGK� B?T@?F� m� KJDOeDmSp� �eCmFGBjDJEGE?@�'

_?�CL�?��QBeNJ�NBJReWefEID\�FGDGRJSp�KBe|CmS�m�o?S?FJSBG~GBGCE�4Re|oJ�XGTNGOJp�K'�4LSQ?B'�_C\@J�NGBGDJK|ef@?�FQe}LOLHp�C?WL@J�@LB�ef@?'�:L@p�F?\OL@p�oeR?�NBJf@C?�F�E?SWLD� KLEJ� TLoGTNGWGCC\� m� ?H?B?Ce� K?oBJ@� KBeT\@'� 2mK� WLDFmKN?WJCOe�EJHGCIO?�NB?H?K\EI�FGDGRm�|LBEJ'�_BeQ�=LBmWOLp2ELHp� XeOFLp� >Q?Bp� H?B'�=JB?C� m� \� FGDI� WLD� TLoLFR\f@?� ?KCm?KCJH�FDmR\OJ@J�FGDGRJ@J�DN?@JCL@J'

2mDR\�K?F�?Q?�@LB�e�F�?KC?@e�RmDm�@J�B?TReWJRJDI'

���

=Lf@?�NGBGH?KJEJ�BmOe�4EBJS�F�DGRm�4JCGFmKDIO?�<J|Cf':mWWU�NmK+�HLRL�o?RI�GFJMIOL�LFE?@L�JCL�mT�DNGMQBeN?U'�1KCLWLDEJCL�?DFmERUf�BG~RGOE?B?@�BmOep�KBeQL�Nm�RL�CL�TLDmKOeomR\� HLE'�1KJC� DEBmRGMI� T� @mDMGF?Q?� Oe}L� TL\FJFp� O?RJ� @JK?BLK|eFLRJ� NmK?|KLEJp� L|� TQLDCG� DFmER?p� m� RJ�G� E?KmNGBGH?KJEJ� BmOeg� �`O}?� FJ� o?�EGD\p� E?� \� T� FL@J� CG� @e�eSEJ��*�m�NeDEJFD\�F�K?B?Qe'�<mC�CG�TCLFp�T�OJ@�@Lf�K?�KmRLp�L@J� CG� H?EmRJ� B?TO?CDNmB?FeFLEJD\� NGBGK� CJ@'� 7LKjCGjBLKHJRIMG@�NGBGORLKLf@?D\�CL�KBeQJS�omO'�_FmWm�CLN?B?RJD\�CLo?RI�GFJOmFp�\Om�CLFmEI�T�OmRIOLCLKM\EI�OB?OmF�CG�TLNBJ@mEJRJ

�nw

CLD'� 2mK� Q?B?U� 6RUW� TLRJ�Lf@?� DF?U� ?H?B?Ce� m� mTDJ@NLEJWCJ@� o?S?FJ@� TF+\TOmFMG@p� K'� 4RLFO?@p� mKG@?� }GKLRGO?jKLRGO?�CL�DEBmWe'

���

<�KBe|CmS�LE@?D~GBm�NB?H?KJRL�FmKNBLFL�F�NB?F'�:'�<�E?@eWLDm� \� NGBG|JF� ?KCe� T� CLSQLBCm�JH� HFJRJC� F� DF?f@e�|JEEm'2mK� WLD� FmKNBLFJ� NB?F'� :'� FmKWJELF� @GCm� CLOLT� b?R?FC?Q?<mSDIO?F?Q?�aELoe� NB?� 2?DELC?Fe� 5b<7g� �PL� FJ\FRGCe@e|CmDEIp�QGB?SDEF?� m�FmKFLQe�F�OGBeFLCCm�o?B?EIo?U�FmKKmRmF528�FmKTCLWefEID\�N?BeWCJOL�ABmCL�P?R?EJ@�ABGDE?@�X?S?F?�PLDReQJ�>�OR\DJ�'

=?��@Bm��FmK�KJEJCDEFL�*�oeEJ�F?�C?@�BmKC?��LB@m��m�o?B?EJD\TL�F?RU�5OBL�CJ�*�TKmSDCJRJD\'�<�K?KLEOe�K?�E?Q?�ELOG�FJD?OGFmKTCLWGCC\'� 5\FmEI� D?omp� \OG� MG�}LDE\� oeEJ� FmKTCLWGCJ@� TLo?B?EIoe�TL�5OBL�Ce�CLSFJ}?U�CLQ?B?K?U�BmKC?��LB@m��

2?DELf�oL|LCC\�}JB?�N?K\OeFLEJ�5b<7�m�b<ap�}?�?MmCJRJ@mS�EBeK'�PLBLT?@�H?EmF�oJ�\�NB?DJEJp�}?o�MGS�P?R?EJS�ABGDEN?R?|JEJ� CL� @?QJRJ� @?�H� omSMmF� EL� O?@LCKJBmFp� QGB?�Fp�}?FNLRJ�F�TLFT\EJH�o?\Hp�EL�CL�QBeK\H�EJ@p�\Om�}G�BLT?@�Tm�@C?UNBJS�RJ�T�/G@OmF}JCJp�|JFeEI�m�o?BUEID\'

A?B'�=JB?C�EG|�FK?F?RGCJSp�o?�CG�@eDmF�FmKmSEJ�CL�EGBGC?FeB?o?Eep� }?� FFL|LF� KR\� DGoG� OBJFK?U'� >� TC?Fe� NB?}LCC\pN?oL|LCC\�NGBGoeEJ�}LDRJF?�MU�TJ@e�EL�Km|KLEJD\�FGDCJ�m�F?Rm'

���

2mDR\� K?FQ?Q?�@LB�e�@J� TReWJRJD\� mT� DF?�@J� DEBmRIM\@JNmK� Q?B?U�6RUW'� qZ'q�'Zn� B'�*� F� DF\E?� 528�*� DNGMQBeNLG@FGKJDEmF�F�N?E?Mm�CLDO?WJRL�CL�H?B'�=JB?CLp�O?RJ�FmC�@JFD\'=J�T�CJ@�CL�\OJSDI�WLD�oeRJ�B?TReWJRJD\'�<mCp�?KCLOp�CLTLF|KJB?TReWJFD\� mT� TLFT\EJ@� OeRG@GECJO?@� DE'� FmDE'� :LTLB?@� mT4NBJCmp�\OJS�.w'�q�'�Zn�B'�F�oeCOGBm�TQJCeF�BLT?@�T�NB?F'�1RGCG@p}?�oeF�N?RmEFJH?FCJO?@�F�S?Q?�D?ECm�m�\OJSDI�WLD�F�@GCG'�0L@TLQJCeF� EG|� FmDE'� 7JoLO� mT� D?ECm� OjBL� X?BLp� BmKCJS� oBLEFmDE'�de@LOL�T�@?f��D?ECmp�}?�NmK�WLD�o?�F�CL�/G@OmF}JCm�KGF+\EIKCmF�CmW?Q?�CG��F'�PLQJCeF�EG|�DEB'�2mKO?FL�T�DGRL�6'p�}?�FoJFCLWLRICJOL�=<_�XmR?FeDL�F�@mDEm�4O?RG'�5DmH��H�TQJCeR?�FmDm@'

�nk

���

<�|eBomp�}?p�@?|Gp�TLQJCeF�H?B'�=JB?Cp�NGBGOBLKLf@?DIN?@m|� F?B?|m� �OLEU�m�� EL� FmSDIO?Fm� WLDEJCJ�*� N?R\@J4JCGFmKDIOL�<J|CI?Q?'�A?R?KCm�?DmCCm�F?KJ�FNGBE?Q?�1N?BepB?TRJE?Q?��JB?O?�4EBJ\p�N?CeBm�DCmQ?Fm�H@LBJ�OeNLRJ�CLD�FH?R?KCep� ?DmCCU�CmW'

<�Oe}m� K'�_?BL� TeDEBmWLU�}G�?OBe|C?Q?�BG~GBGCEL�4XpK'�4LSQ?BL'�0B?HJ�Q?R?KCm�*�NGWG@?�CL�NLEJWOLH�@+\D?p�N?Em@�@?�D@LWCe�NLBEJTLCDIOe�TeNe'�6?RJ�NBJS�RJ�OeB+fBJ� m�F|GoeF�WLD�FmKH?KJEJp� K'�4LSQ?Bp�N?oLWJF�J�CLD�RGQO?�eoBLCJHpKLf�@GCm�CL�K?B?Qe��OmB\CJS�NRL}p�L�DE'�FmDE'�1DEB?FGBH?Fm�*W?o?EJp�OL|eWJg��`�D?om�T?BQLCmTeUp�L�FJ�SKGEG�F�KLRGOe�K?B?Qe'b?E?F�FNLDEJ�DCmQ'��G�FL@�NBJQ?KJEID\�'�=J�FmK@?FR\f@?DIp�ELWJ� @?|CL� FmK@?FJEJDIp� O?RJ� HE?DI� NB?DJEI� }JB?� mNGBGO?CRJF?��2B?}Lf@?D\� Tm�}JBJ@� K'� 4LSQ?B?@�*� EBGoLN?DNm�LEJp�o?p�O?RJ�FNLKG�DCmQp�TF+\TOJ�CL�m�NB?NLKeEI'

���

:L� NmFKGCCJH� FGBHLH� FGRJO?Q?� DGRL�1B?FL� FJ@JCLf@?F?B?|m� TLDmKOJp� NGBGH?KJ@?� CL� KBeQJS� omO'� 0J@� WLD?@� DCmQNBJOBJFLf� TR?Fm}?� omRJ@� CLOBJFLR?@� TG@RU'� 6?RJ� FNLKGNGB�JS�DCmQp� E?� F?B?Qp�@?F� D?oLOJp��eOLf� DRmKJ'�PFJWLSC?� TNGB�J@�DCmQ?@�FmKoeFLfEID\� EG|�@LD?FJS�FJFmT�eOBL�CDIO?Q?CLDGRGCC\�CL�4JomB'

4JKJ@?� F� DCmQe� Q?R?KCmp� oGT� HLBWmFp� o?� F� DGRm� EBJDELo?RI�GFJOmF�NGBGF?K\EI�?oRLFep�LBG�EJ�m�FJFmT'�2?�EBI?H�KC\H@?DO?FDIOJS�FLBFLB�TLoBLF�mT�DGRL�D?ECU�B?KJC�m�FJ�HLF'�0?Km@J�oBGKG@?�KFL�OmR?@GEBJ�K?�DGRL�N?�HLBWm�QRJo?OJ@�N?�N?\DN?E?O?@p�}?o�CG�TLRJ�JEJ�CL�DCmQe�DRmKmF'�=?��FmKFL|Cm�F?\OJDO?WJRJ� K?� DeDmKCI?Q?� DGRLp� KmDELRJ� DFJCOep� }?o� oeR?�}?D@L|JEJ�CL�F?QCJ}m'�0LO�F�DCmQLH�DJKJ@?�?KJCLKM\EI�KCmF'��CL@J� N?DEmSC?� NGBGoeFLUEI� DE'� FmDE'� 4EBmRLp� FmDE'� 4?SOLpDEB'�P?\p�DEB'�XeBJSp�K'�7?@LC�m� mC�m'��?o��FJK�G�NB?H?KJFWLDp� QBLf@?� F��LHJp� Lo?� \� ?N?FmKLU�@mDMGFJ@� DEBmRIM\@�NB?CL�m�o?�'

.w� |?FEC\� NBJH?K\EI� H?B'� =JB?Cp� DE'� FmDE'� 1BGR�*TF+\TO?FJS�FmK�OjBL�X?BLp�L�T�CJ@J�BG~GBGCE�4X�4NLBELO�ELDRLFCJS�O?@LCKLCE�o?�FOJp�}?�Kmf�N?�_B?Q?oJWm�m�X?BJDRLFmp�*

�w�

=LO?@LMIOJS'�0GNGB�RJ�G�DELR?�FGDGR?'�2BJEJDOLUEI�@GCG�TeDmH�o?OmFp�}?o�?N?FmKLF�NB?�CL�m�o?�p�T?OBG@L�NB?�TLDmKOe�CLQGC'�4FfBWGFDIO?Q?'

=LO?@LMIOJS�CL@?FR\f�@GCG�NmEJ�T�CJ@�K?�0BeDOLFM\g*�A?KmEI� Tm� @C?U'� 0L@� @LU� K?FmBGCJH� RUKGSp�}?� FLD

FoGBeEI�EL�FTeUEI'�`O}?�o�F?CJ�TCLRJp�HE?�NBJS�?F�K?�CJHp�E??oKLBeFLRJ� o� FLD� CG� TCLEJ� WJ@'� 0L@� NBJ�HLF� o?RI�GFJMIOJSQGCGBLRp�}?�B?oJF�?oRLFJ�CL�/G@OmF}JCm'�=?|Gp�DN?RUf@?�S?Q?'

*�`O}?�o�CG�TJ@Lp�E?�@J�CLNGFC?�m�FJoBLRJDI�oJ�EeKJ'*� `� FLD� D?om� e\FR\Fp� KBe|G� O?@LCKJBp� \O� FGRJO?Q?

@e|WJCep�L�FJ�EJ@�WLD?@�ELOm�@LRGCIOm'=LO?@LMIOJS� @GCm� DN?K?oLFD\'� :GFGRJWOJSp� @GEOJSp

D@LQR\FJSp� mCEGRm�GCECJS�FJQR\Kp�T�oJDEBJ@J�?WJ@L�*�B?oJF@JRG�FBL|GCC\'

:L�S?Q?�DR?FL�\�FmKN?FmFg*� A?W� \� }eNRGCIOJSp� TLEG� FJQR\KLU� \O� HBmCp� \O?@e

TBeoLUEI�Q?R?Fep�L�FmC�FmKB?DELf'<�N?KLBeCOe�FmC�KLF�CL@�O?FoLDep�\Oe�NBJQ?E?FJF�CL�TJ@e'

0LO?Q?�@J�F|G�KLFC?�CG��RJ'4CmQ� CG� ELCG'�1N?FmKLf@?� DF?�� NGBG|JFLCC\'�=m|� mC�J@

4NLBELO�B?TN?FmKLfp�\O�E?�FmC�FJOBLF�T��GDELN?�F�_B?Q?oJWm�NR\CCLDO?Oe�CL�5:4�CLK�:GKmRIC?U'�5:4�oeF�F�WLD�N?FmK?@RGCJS'

dLD�CLQRJEIp�NB?}Lf@?D\� T� KBeT\@Jp�oL|Lf@?�F?\MIO?Q?}LDE\'� XGT� TF+\TOmFp� CL� ?O?� �BeoLf@?�� TL� ?KCe� CmW� L|� F4NBJCDIOm�RmDJ'

���

_?FO?RL�CG�WeEJ�CmW?Q?�NB?�N?FDELCMmF'�:mWWU�TLH?KJ@?�K?DGRL�4'�_?�?KCmf��HLEJ�H?B'�=JB?C�KLf�DJQCLRg�DEeOmE�KFL�BLTJN?�EBJ�m�ORJWOLg��=JB?C�FmK�CmWOJ�'�0eE�@J�EB?HJ�FmKN?WJRJ'�0L@mS�CGDN?OmS�OLTLF�FJSEJp�@?|RJF?�E?@ep�}?�\�CG�NBJTFJWLfCJSK?� DGRL'� >�}LDE\p�}?� Nm�RJ'� `O� NmTCm�G� FJ\FJR?D\p� DJC� Mmf�Q?DN?KJCm� oeF� CGoGTNGWCJ@� L�GCE?@'� <mC� FKLFLF� FGRJO?Q?DNmFNBLMmFCJOLp�OBJFD\�NGBGK�F?B?Q?@p�L�EJ@�WLD?@�FJO?CeFLFL�GCEeBCe�B?o?Ee'�AE?�TCLfp�WJ�CG�oeF�oJ�CLD�TBLKJF'

4CmQe� EeE� @GC�Gp� LRG� @?B?T� NBJEJDOLf� m� NB?CJTef� EmR?':mWWU�k�RJDE?NLKL�NmKDeFLf@?D\�K?�DGRL�/'�<�DGRm�CLDGRGCC\NGBGR\OLCGp� CLD� CG� TCLfp� o?�EID\� KLEJ� FmK?@?DEmp� DL@G� EGNGBF?B?Q�NGBGF?KJEI�EBeDJ�S�LBG�EJ'�4GR\CJ�o?\EID\p�WJ�@J�WLD?@

�wq

CG�o?RI�GFJOJp�NGBGoBLCm�TL�N?FDELCMmF'�2GBGOBLKLf@?D\�@m|HLEJp� WGBGT� �R\H� m� NGBGH?KJ@?� _CmDEGB'� <?KL� N?� QBeKJ'7?TK\QLEJD\� CG@Lf� WLDep� o?� F� O?|CmS� HFJRJCm� @?|G� TLQBLEJF?B?|JS� OeRG@GE'

:mWWU�CLR\QRJ�FGRJOm�@B\OJ'�<�RmDm�FJKC?�DFm|m�o?RI�GjFJMIOm�DRmKJ'�<?B?Q�Nm�?F�CL�TLDmKOe'�>KG@?�CLF@LCC\�RmDL@JpEB?HJ�oReOLf@?'�<FGW?Bm�q��RJDE?NLKL�F�DGRm�:'�<'�TF+\Tef@?D\mT�DRLFCJ@�NLBEJTLC?@p�oBLFJ@�W?E?FJ@�0LBLDO?@'�4FmS�NBJHmKO?CDNmBef@?� CG� EmRIOJ� NGBGK� CLDGRGCC\@p� LRG� ELO?|� NGBGKN?FDELCM\@Jp�}?op� CL� FJNLK?O� LBG�EmF� CLDGRGCC\� Lo?� O?RJN?NLKG�|JFMG@�BLCGCJS�N?FDELCGMIp�CG�DOLTLRJ�F?B?Q?Fmp�}?CLD� oLWJRJ� NmTC?U� ?DmCCU� F� MI?@e� EGBGCmp� o?� E?Km� F?B?Q?BmfCEeFLFD\�op�}?�@J�KGDI�EeE�TJ@ef@?'

4I?Q?KCm� W?E'� 0LBLDO?� KmDELf� m@GCeFLCC\� CL� DELB�?Q?oeRLFC?Q?p� FmKTCLWGCC\� XB?CT?FJ@�ABGDE?@� X?S?F?�� PLDReQJCL� NmKDELFm� CLOLTep� \OJS� NBJS�?F� T� b<a'� `� CLTCLWeU� S?Q?D?EGCCJ@� FmKKmRe� �XLDGSC�'� <BLKeFLCJSp� o?S?FJS� EL� TKmoCJS0LBLDO?�FmKBLTe�eORLKLf�NR\CJp�\O�FmC�oeKG�F?UFLEJ�FGDC?U'

��G� CmWWU� TLH?KJ@?� F� RmDp� DNJ@?� F� oeKmp� L� CL� DFmELCOeq.� RJDE?NLKL� ?oGBG|C?p� oGT� DRmKmFp� NmKDeFLf@?D\� K?� CL�?Q?oeCOGBe'� 4E'� FmDE'� XLSKLO� TLRJ�LfEID\� NmFOmR?@GEBL� N?TLKep}?o�T?BJEJ�m�NmKDReHeFLEJp�WJ�HE?�TL�CL@J�CG�DRmKOef'

#VY��T�!T[�k�R�]%U�T�V

:LBG�Em� @J� O?R?� CL�?Q?� oeCOGBe'�=mDMGp� F� \O?@e� FmCN?oeK?FLCJSp�CGN?@mECG'�P�WJDE?Q?�N?R\p�TjNmK�Q?BJ�FJNRJFLfN?EmW?Op� }?� QRJo?OJ@� \B?@p� TLB?DRJ@� QeDE?U� QBLoJC?U� mEBJ@GEB?FJ@J� \RJWOL@Jp� om|JEI� DEBm@Q?R?F� K?� Q?R?FC?Q?N?E?Oep�}?�NRJFG�RmD?@'�_?FO?RL�N?R\CJ�FmKOBJEG�N?RG'�6mRIOLLBmF�Qe}LOe�@?R?K?Q?�\RJCCJOe'�PCLSEJ�CLD�EeE�F?B?Q?Fm�oeKGFL|O?'�:mHE?� S� CG� N?Ke@Lfp�}?�@J� ELOm� BJDOLCEJ� m� FJoBLRJD?om� ELOG� @mDMG'� :L� OLBEm� N?EmW?O� CG� TLTCLWGCJSp� @mDMGCGN?@mECGp� LRG� F� BLTm� �FDJNJ�� FL|O?� oeKG� TFmKDJ� FJBFLEJD\|JFJ@'�>C�?Q?�@mDM\�CG�oeR?'�XmRI�m�RmDJp�N?E?OJ�EL�FmKN?FmKCmK?� E?Q?� Q?BoJ� oeRJ� F|G� N?BJEm� oeCOGBL@J� m� OBJ�FOL@J� F@JCeRJH�B?OLHp�m�@LS|G�FDmH��H�FmKCLS�?F�F?B?Q'

*�8� EGNGBp� KBe|G� O?@LCKJBp� H?KmEI��eOLEJ� oeCOGBp�*OL|G�FmDE'�XeSCJS'

�w.

2B?�@mDMG� oeCOGBe� TCLF� H?B'�=JB?Cp� o?� S?Q?� FJoJBLF'7?TQR\KLUD\p�m�FL|O?�S?Q?�TCLSEJ'�/J�G�O?RJ�N?oLWJF�QRJCeCL� D@GBmWOLHp� K?QLKLFD\p� }?� oeCOGB� EeE'� _?FO?RL� TG@R\TL@LDO?FLCLp� N?DJNLCL� �NJRIOL@J� T� OeNJC� @eBLFRmFpN?CLDLK|eFLC?� \RJWOJ'� bRJCe� T� oeCOGBep�}?DI� KFL� FLQ?CJpN?C?DJRJ� DEBmRIMm� K?� eBFJDIOL� CLK� N?E?O?@p� TL@LDOeFLRJpN?DLKJRJ� KGBGFM\p� ?|JCCJO� m� NLN?B?EI'� 2BJ� E?@e� EBGoLFFL|LEJp�}?o�|?FEL�QRJCL�CG�TLRJ�LRLD\�CL�N?OBJE?@e�@?H?@pW?BC?@e�OL@mCCmp�}?o�F?KL�MU�QRJCe�CG�NmK@eRJRLp�o?�E?Km�FN?E?Mm�TLRJ�JFD\�o�DRmK'�:L�oeCOGBm�T�?KC?Q?�o?Oe�NmFE?BLp�L�TKBeQ?Q?�NmF@GEBL�QRJCJ'�=?|CL�N?�CI?@e�H?KJEJp�LRG�KeKCmCC\CG�WeEJ'�<�oeCOGBm�BeH�*�NBJQ?E?FR\UEID\�K?�TFmEep�N?WeF�JNB?� CL�� NBJHmK'� <mKOBJFLf@?� FmO?� e� ~?B@m� DOBJCIOJp� }?CLR?|GCL�QRJC?Up�T�FGBHe�CLDLK|GCL�@?H?@'�2?�DH?KLH�TRLTJ@?K?� FH?Kep� L� FmKELO� EBJ@GEB?FJ@� O?BJK?B?@� K?DGBGKJCJ'd?E'�2LD�DORLKLf�TFmEg

*�_Be|G� O?@LCKJBp� TQ?R?�eU� DELC� F� oeCOGBm�*��mDEIRUKGS'�<DG�F�N?B\KOe'

�P�CL�J@�NBJH?K?@�DELC�DELC?FJEJ@G�KGF+\EI�RUKGS'�=?�F?\OJ�DE'�FmDE'�1DEB?FGBH�FmKmS�?F�K?�oeCOGBe�B?S'�_?Foe�LpDE'�FmDE'�1BGR�*�K?�oeCOGBe�oeCW'�d?BC?Q?p�FmDE'�/eQ?FJS�*K?�oeCOGBe�B?S'�_G@?CL'

���

<H?K\WJ�K?�oeCOGBep�\�NGBGHBGDEJFD\'�XeCOGB�@GCm�FJKLFD\|JFJ@�QB?o?@'�<NGB�G�F�DF?f@e�|JEEm�SKe�TJ@eFLEJ�NmK�TG@RU'

<mELf@?�NBJDeECmH'�1Wm�FDmH�TFGBCGCm�K?�CLD�T�MmOLFmDEU�*\Om�C?FJCJ�@J�NBJCGDRJp�\Om�NBJQ?KJ�EBLNR\RJD\�CL@�F�K?B?TmpT�OJ@�TeDEBmWLRJD\p� WJ�FNLRJ�\Om�oeCOGBJp�HE?� TQJCeF� EL�}?C?F?Q?�CL�DFmEm'�=J�oeRJ�FE?@RGCmp�oL|LRJ�DN?WJFLEJ'�0L�WJ@?|CL�DN?WJFLEJ�E?Kmp�O?RJ�FDm�KBeTm�MmOLFm��>�ELOp�NJELCC\�TLNJELCC\@Jp�TLFGRLDI�B?T@?FL�L|�K?�FGW?BL'

XeCOGB�CL��CGFGRJOJSg�K?FQJS�CL�Z�@p��JB?OJS�CL���@p�T?KC?Q?�o?Oe� FJD?OJS�CL� .� m� NmF�@GEBLp� T� KBeQ?Q?�o?Oe�*�CLNmFE?BLp�ELOp�}?o�DEGR\p�N?OBJEL�QBeoJ@J�K?�OL@Jp�@LRL�DNLKKR\� F?KJ'� 4EmCJ� FJR?|GCm� DeHJ@J� O?RGCJ@J� oGRIOL@J'� 2mKFJ}?U� DEmC?U� N?TK?F|� DE?\RL� NBJWL� T� K?}?Op� \Oe� @JCLOBJFLRJ�NLRLEOL@J'�2mK�Q?R?Fe�CG�oeR?�CmW?Q?p�HmoL�N+\DEeO'4NLCC\�EFGBKGp�\O�TL�WLDmF�OC\T\�=?C?@LHL'�<?C?�oeR?�ELOGp

�w�

}?o� WGBGT� DmCCJOJp� N?Ke�OJp� D?R?@ep� DmC?� CG� @C?|JRJD\O?@LHJp� TFLCm� �NBJ\EGR\@J� NLBEJTLCL�p� EL� }?o� CG� oeR?�CLMm?CLRIC?Q?�EGBE\�'�2mK�NBJWWU�oeR?�DORLKGC?�oLBLo?RUp�FCGFGRJO?@e�@m�Oe�oeB\OJp�MJoeR\� m�WLDCJO'�:L�?KC?@e�OmCMmNBJWm� oeF� N?oeK?FLCJS� DE?RJO� CL� NJDLRICe�@L�JCep� TFLCJSCL@J� �OLCMGR\BmSCJS� OeEJO�'� �?o� oeR?� \DCm�G� DFmER?pFmDE'�0GE\CL�FJRmNJRL�DEmCJ�omRJ@�NLNGB?@'�<J}G�CL�N?RJWMmDE?\RL�FmSDIO?FL�RmEGBLEeBLp�N?RmEJWCm�OCJ|OJp�NLNmBp�OLRIOL�mELDI@J� K?�@L�JCJ'� <TK?F|� N?CLK� MmRe� NBJWe� oeRL�}G� ?KCLpQ?R?FCL�N?RJM\p�CL�\OmS�DEBmRIMm�DORLKLRJ�DF?��OCJ|OJp�T�JEOJpNBJRLKK\�?D?oJDE?Q?�O?BJDEeFLCC\'�2mK�N?RJMGU�oeRL�}G�?KCLN?RJWOLp� L� EL@� FDmR\Om� BGWmp� CG?oHmKCm� F� NLBEJTLCDIO?@eTJ@?F?@e� |JEEmp� TLOeNRGCm� FmDE'� 0GE\C?U� EL� NBJKoLCmDEBmRIM\@J'� 0L@� oeRJg� @JR?p� CJEOJp� �eKTJOJp� Q?ROJp� OmROJpMF\�OJp� NLDEL� K?� TeomFp� NLDEL� K?� ?oeFJp� O?RI?CDIOL� F?KLpN?B?�?O�CL�O?@LHp�OBG@�K?�Q?RmCC\p�?RmFMmp�NGBL�m�CGFGRJWOLLNEGWOLp� �C?EJp� DO?ROL� K?� R\@NJ'��U� RLF?WOe� @J� CLTJFLRJ�O??NGBLEJFL� 0GE\CJ�'

:LK� NBJWGU� DE?\F� ?oBLT� X?|?�� =LEGBmp� NBJoBLCJSFJ�JFLCJ@� Be�CJO?@� m� OFmEOL@J� T� NLNGBep� NmK� CJ@�*<?R?KJ@JB?FJS�EBJTeo�EL�N?BEBGE�N?RO'�6?C?FLRIM\'

<�NB?EJRG|C?@e�OeEOe�FmK�CL�?Q?��oUBL��oeRJ�DORLKGCm@m�OJ�T�|JECI?U�@eO?Up�OBeNL@Jp�OFLD?RGU�m�o?o?@p�L�CLQ?BmDE?\RJ�F�@m�OLH�DeHLBmp�}?o�CG�TLNRmDC\FmRJ'

:L� KBeQ?@ep� CJ|W?@e� o?Mmp� omR\� FH?Kep� DE?\RL� OeHC\pFJ@eB?FLCL� T� OL@mCMmF� T� N?E?OL'� 6?@JC�*� KFm� BeBJp� \Om� CLN?FGBHCm�oeRJ�BmFCm�T�TG@RGU'�2BJ�OmCMm�F?CJ�KG}?�Fe|Wmp�}?oCL�FJNLK?O�CLDO?Oe�F?B?Q�CG�@mQ�OJKLEJ�EeKJ��BLCLEJ'�:L�KGCIBeBJ�@LDOeFLR?D\�@?H?@'�1KJC�@GEB�FmK�OeHCm�oeRL�e@JFLRIOLpF� \OmS�}?KGCC?� O?|CJS� DEBmRGMI� @eDmF� ?o?F+\TO?F?� @JEJD\TJ@C?U� F?K?U� K?� N?\DL'� _?� KBLQLBL� oeRJ� CLoJEm� MF\HJp�}?TLDEeNLRJ� Fm�LO'� 6?|CJS� DEBmRGMI� @LF� DFmS� MF\Hp� CL� \O?@eFm�LF��JCGRUp��LNOe� m� ToB?U'�:LK� Fm�LO?@� RG|LRJ�}mEOJp@JR?p� NBJKmRGCm� KR\� O?|C?Q?p� @eDJEI� FJDELWJEJ� CL@� K?N?R?FJCJ� OFmEC\'�6?RJ� B?TN?KmRJRJ�@m|� DEBmRIM\@Jp� O?|CJS?}LK|eFLF�m�Te|JFLF�DEmRIOJp�DOmRIOJ�S?@e�N?EBmoC?'

:J|WG�Fm�LOL�DE?\RJ�KFL�FmKBL�CL�F?Ke�K?�NJEE\p�?KCG�*CL�N?@J�'�:L�K?RmFMm�oeRL�NmKR?QL'�2mK�NmKR?Q?U�*�\@Lp�F�\OmSCL�FJNLK?O��N?NeDOe��oeKG�TomBCJO�CL�F?Ke'

�wZ

P�NB?EJRG|C?Q?�FmK�FH?Ke�o?Oe�oeF�NmKTG@CJS�EeCGRI�CL.��@�L|�K?�N?E?Oe'�<�N?E?Mm�FmC�oeF�NBJOBJEJS�O?R?K?U'�0L@oeRL� OBJCJWOLp� TFmKOJ�@J� oBLRJ� F?Ke'� <� E?@e� EeCGRm� DE?\RJo?WmROJ�T�@+\D?@'�XBLOeFLR?�EmRIOJ�}G�QmKCJH�o?W?O�T�E?F}G@pD?R?CJC?Up�@GK?@�m�DJB?@p�E?Km�oeF�oJ�F�CLD�BLS'�:L�|LRIp�@JMI?Q?� CG� @LRJ'� 6mRIOL� NR\�?O�@LDRL� @J� TLH?FLRJ� CL� DF\EL'0eCGRI� N?EBmoCJS� CL@� CL� FJNLK?O� CLDO?Oe� F?B?QLp� O?RJ� FmC?oDEBmRUFLEJ@G�FmO?g�KGOmRIOL�FJDO?WJEI�E?Km�K?�N?E?Oep�FJOJCGKGOmRIOL��BLCLEp�L�O?RJ�FDm�FJSKeEI�*�oeKG�F?QCG@�NB?oJFLEJD\'PFJWLSC?�F�ELO?@e�CLDO?Mm�N?R?FJCL�N?FDELCMmF�QJCeRL'�2BJE?@e�ELOJS�CLDRmK?O�oeF�EmRIOJ�E?Kmp�O?RJ�F?B?|L�DNGMm\RICLo?�FOL� NBJNLKO?F?� FJS�RL� CL� oeCOGB'� 6?RJ�|� oeRL� E?WCL�FDJNL�p�E?Km�TFJWLSC?�T�oeCOGBe�CmHE?�CG�FJH?KJF�|JFJ@'

2?�DGBGKJCm�oeCOGBe�CL�KB?Em�FJDmRL�R\@NL'PLC\EE\�NB?F?KJRJ�DEBmRIMm�CL�NBJWmp�DJK\WJ�CL�O?FoJM\H'

_R\�omRI�?��FJQ?KJ�F�OeEOep�KG�DE?\RL�@eOLp�CLK�NBJWGU�KR\KF?H�DEBmRIMmF�TB?oRGC?�K?KLEO?FJS�RG|LO�F�B?Km�o?SOmFDIO?�O?RJDOJ�T�K?}?Op�TFLCJS�CL@J��oLCEJ�'�0L@�oeR?�EGNR?�DNLEJpCLE?@mDEI� N?FmEB\� oeR?� CGTK?B?FG'� �G� oeR?� @mDMG� CL�JH@eTJOLCEmFg�FmDE'�<JH?BL�m�FmDE'�4mB?Q?'

0?@e�}?�@J�EBJ@LRJ�DEmSOe�CLFGBHep�CL�oeCOGBmp�MG�F|GCG� oeRL� OBJ�FOLp� L� oeCOGB� NmK� TG@RGU'�6BJ�FOL� f� MmRO?FJE?TL@LDO?FLCLp�m�T�CG��CG�FJH?KJEID\�@LS|G�WGBGT�MmRe�TJ@e'�5TF+\TOe�T�EJ@p�}?�DEmSOL�DE?�EI�CLFGBHe�CGKLRGO?�oeCOGBep�FCGK?DEeNC?@e�Qe}LOe�@J�ToeKeFLRJ�ORI?TGEp�KG�TLBLT?@�DOJKLRJD@mEE\� m� FmKNLKOJ'� 0LO?|� CGKLRGO?� oeCOGBe� oeRJ� TLO?NLCm� FTG@RU�o?WOJ�T�@+\D?@� m�OLNeDE?U'�:L� QeDEmS�D@GBmWMm�FJDmRJTL@LDO?FLCm� O?DEm� S� @+\D?p�}?o� TLF|KJ� @LEJ� DFm|JS� B?DmR'X?WOL�T�CL~E?U�oeRL�EG|�TLO?NLCL�F�TG@RUp�CL~Ee�K?oeFLRJ@J�TL�K?N?@?Q?U�Fe|JOL'

:L�FJNLK?O�CLDO?Oe�F?B?QL�CmWWU�Lo?�FKGCIp�O?RJ�o�TLQJCeFCL��DEmSO?FJSp�L�@J�NB?�MG�CG�TCLRJp�m�F?B?Q�K?�FmOL�OBJOCeFoJ� CL@g� �XLCKmEp� FJHLKmp� TKLFLSDIp� Efof� CmWfQ?� Cf� oeKfEp� F?ED@LEBmp�OLOL\�EF?\�|JTCIp�OLO?S�HLB?�JS�DFfEp�Efof�CLK?�E?RIO?|JEI�p� @J� TL@mCeFLRJ� DGoG� N?RO?FJ@J� @mC?@GECJ@JDEBmRICL@J'�7?oJRJ�@J�MG�ELOg�mT�DEBmRICL�FJOBeWeFLRJ�W?N?OpT�KBeQ?Q?�DEBmRICL�CLoJBLRJ�E?Rp�B?TE?NRUFLRJ�S?Q?p�K?N?FC\RJCJ@�NGB�G�DEBmRIC?p�TLORLKLRJ�TLNLRICJO�FmK�CLEJDO?F?��@mCJpKB?E?@� DN?ReWeFLRJ� K?� oeCOGBe'� 0LO� TL@mCeFLRJ� @J� DGoG� T

�w[

W?EJBI?H� DE?BmCp� N+\EG� DEBmRIC?� N?FmDJRJ� CLK� oeCOGB?@p� CLKGBGFm'�7?oJRJ�MG�DEBmRIMm�Ke|G�?oGBG|C?p�E?@e�}?�@mCGB�@?|GEmRIOJ�BLT�F�|JEEm�N?@JRJEJD\'�_B?EJ�oeRJ�NB?FGKGCm�N?FGBHCGUTG@Rmp�NBJNC\Em�QLWOL@J�K?�TG@Rmp�TL@LDO?FLCm'�5�BLTm�CLDO?OeF?B?QL� N?E\QLR?D\� ELOJS� KBmEp� m� DEBmRIC?� n��jq���� ?DO?ROL@JCJ}JR?�K?FO?RL�FDG'�PLTCLWeUp�}?�MG�@J�@?QRJ�NBLOEJOeFLEJEmRIOJ� E?Kmp� O?RJ� o� @LRJ� F?B?QL� CLK� FmO?@'�=?|CL� oeR?� oO?BJDELEJ�T�?KCmf��@mCJp�\O}?�F?B?Q�m�?F�oJ�T�?KC?Q?�CLNB\@e'8RG�E?Km�@J�FDm�@eDmRJ�o�DJKmEJ�F�oeCOGBmp�}?o�?DO?ROJ�CLD�CGN?BLCJRJp�m�RJ�G�NmDR\�FJoeHe�*�FmKDEeNLEJ'��G�oeR?p�?KCLOpK?F?Rm� BJTJO?FLC?p� o?� DEBmRIC?� @?QR?� CG� FJoeHCeEJp� L� E?KmF?B?Q�NBJS�?F�oJ�oRJTIO?�m�TLFKLF�oJ�CL@�FGRJOJH�FEBLE'

���

4EmSO?FJS�F�N?FC?@e�o?S?F?@e�FJB\Km�m�Q?E?FC?DEm�T?BJF�mCLDReHLF'� <mC�@LF� TQ?R?�eFLEJ� N?DEBmRJ� F� RmDmp� oBGHmE� D?oLOpQ?F?BGCC\p�DFJDEp�NmK?TBmRm�BeoLCC\�D?OJB?Up�FS?OLCC\�CL�O?CGSpNGBGORJOeFLCC\p� oeKIj\OJS� EBmDOmEp� �eBQ?EmCC\� NLRLEOJ� moBGCIOmE�ToB?�p�FGBGDORJFJS�OBJO�D?S?Op�OB\W?O�E?}?'�<DG�EG@?QR?� o� KLEJ� TK?QLKp�}?� F?B?Q� oRJTIO?'�:L� EBJF?|Cm� DN?DEGjBG|GCC\�FmC�CLHJR\FD\�K?�FmOL�mp�CLDRmKeUWJ�NEL�OLp�WJWJOLF':L�omRI��EBJF?|Cm�DN?DEGBG|GCC\�*�RGQGCIO?�DEeOLF�K?�FmOLp�LCL� LR\B@�*� KTF?CJF� KTFmCO?@p�}?� oeF� DN?ReWGCJS� K?� CI?Q?KB?E?@'� 0?Km� S?Q?� TLFKLCC\@� oeR?� TLC\EJ� DELC?FJ}G� mp� O?RJF?B?Q�m�?F�CL�oeCOGBp�FmKoJFLEJ�S?Q?p�}?o�@J�@LRJ�WLD�TLoBLEJToB?Up�FL|RJFm�@LEGBm\RJ�m�FJSEJ�CL�oeCOGB'�2mK�WLD�DEmSOJ�CGFmRIC?�T�CmOJ@�B?T@?FR\EJp�OeBJEJp��DEJp�OL�R\EJp�WHLEJp�Q?R?DC?Q?F?BJEJp�FmKORLKLEJ�ToB?Up�FmKKLR\EJD\�FmK�oeCOGBe�N?CLK�KGD\EI@GEBmF'�2mK�WLD�LR\B@e�T�oeCOGBe�FDm�FJH?K\EI�EJHMG@p�o?�oeFLfELOp�}?�F?B?Q�NB?SKG�omR\�oeCOGBe�CL�FmKKLRm�OmRIOLCLKM\EI�@GEBmFm� CG� TLNBJ@mEJEI� DEmSO?F?Q?'� XeFLf� m� ELOp�}?p� TLNBJ@mEJF�JDEmSO?F?Q?p�F?B?Q�FKLfp�}?�S?Q?�CG�oLWJEIp�L�oeCOGB�?oH?KJEI'dLD?@� NBJom|JEI� o?RI�GFJMIOJS� NGDp� TLoBG�G� m� KLDEI� TCLOF?B?Q?Fm�Lo?�NmKom|JEIp�N?QR\CGp�}?�MG�FmSDIO?Fmp�S�NmKG�KLRm'

���

6?CDNmBLMm\�*�TLN?BeOL�CL�?Q?�mDCeFLCC\�m�eDNmHe'�0?@eN?DEmSC?�TFGBELf@?�CL�CG��DEB?Qe�eFLQep�m�E?�CL�O?|C?@e�OB?Mm

�wY

S�F�O?|CmS�N?Bm'�4L@G�oeKeFLCC\�oeCOGBep�K?DELFL�HLBWmF�ELN?oeE� F� RmDm� @eD\EI� FmKoeFLEJD\� F� Ke|G� DEB?QmS� O?CDNmBLMm�'4EmSO?FJS�CLNBe|GC?�eFL|LFp�L�mC�m�EJ@�WLD?@�oeKeFLRJ'�_e|GWLDE?� oeFLR?� ELOp�}?� CL� ELOe� B?o?Ee� �H?KJRJ�� MJFmRmp� m� E?KmK?F?KJR?D\����TLRJ�JEJ'�:GBLT�CLDO?WJF�m�F?B?Q�*�E?Km�DJEeLMm\Ke|G�QBmTCLp�o?�DEBmRIM\@�FL|O?�FJDOLOeFLEJ�T�QRJo?O?��\@J'XeFLf� m� ELOp�}?� CGBLT� NGBGSKG� F?B?|JS� B?TFmKWJOp� L� CLFmEIQBeNL�o?RI�GFJOmFp� TLNBJ@mE\EIp� KG�SKG�oeK?FLp� LRG� TBLTe�CGCLDOLOeUEI'� 8|� O?RJ� DEBmRIMm� TL@G�OLUEIp� CmWWU� ?E?WeUEIpFBLCMm� FJOmCWeUEI'� XeFLfp�}?� F?B?Q� TCLf� NB?�@mDMG� OBJ�FOJDEBmRIMmFp� CL� \OJHp� DOL|m@p� S?@e�@GC�G� TLRG|JEIp� EBJ@Lf� ��L|� K?� NB?FGDCJp� NBJ� E?@e� NB?FLKJEI� DEB?Qe� B?TFmKOepFJWmOeUWJp� WJ� K?� oeCOGBe� NBJSKG� HE?DI� FL|RJFm�JS'� 6?RJELOp� E?Km� CLDOLOeUEI'� =m|� o?RI�GFJOL@J� f� HF?B?oL�*?BKGC?@LCm\'�1DI�ELOJS�?BKGC?@LCj?NGBLEJFCJO�CGBLT�EBJ@LfFJCLSKGCe� OBJ�FOe� K?� NmTCI?�� TJ@Jp�}?o� N?FDELCMm� ?DRLoRJpE?Km� CLDOLOefp� o?� TCLfp�}?� CmHE?�|JFJ@� CG� FJBFGEID\'� 0?@e}?�N?FDELCMm�TCL@GCJE?�?BmfCEeUEID\�F�F?B?|mS�ELOEJMmp�@LUEIDF?U� B?TFmKOep� NBJW?@e� oLQLE?� K?N?@?QLf� @mRmMm\�*� oeFLf� mELOp�}?�N?FDELCMm� FJH?K\EI� T�oeCOGBep� L� F?B?Qp�CLDO?WJF�JpOJKLf��BLCLEJ�K?�N?B?|CI?��\@J'�0LOJH�FJNLKOmF�oeR?�F�CL�mSKmSDC?DEm� oLQLE?'� 2B?� MGp� TFJWLSC?p� ?NGBLEJFCJO� CG� TQLKefDF?f@e�TFGBHCJO?Fmp�o?�oeF�oJ�DEB?Q?�N?OLBLCJS'�_GO?RJ�oeFLfm�ELOGp�}?�F?B?Q�TCLf�NB?�\OJSDI�oeCOGB�m�CL�CI?Q?�CG�CLDOLOef'4EBmRIMmp�}LDRJF?�NGBGTJ@eFLF�J�?KCe�TJ@ep�oeKeUEI�CL�KBeQeTJ@e�WGBQ?FJS�oeCOGBp�F?B?Q�NB?�MG�TCLf�m�EG|�CG�CLDOLOef'0?Km� N?FDELCMm� NBJH?K\EI� K?� NGBGO?CLCC\p�}?� @m|� CJ@J� fL�GCEJ'� PLFKLCC\� ELO?Q?� L�GCEL� B?TFmKLEJ� TL� DeDmKCm@JoeCOGBL@Jp�TL�EJ@p�OeKJ�SKeEI�HLBWmp�CL�\Oe�LKBGDep�\Om�HLBWm'8�GCE�mC~?B@ef�F?B?QLp�}?��eOLf�TL�EJ@J�oeCOGBL@Jp�L�E?Q?pKG�NGBGoeFLf�L�GCEjFCeEBGCCJOp�FNGBE?�CG�WmNLf'

_?DELFL� HLBWmF� K?� CL�?Q?� oeCOGBe� S�RL� Ke|G� O?CDNmjBLEJFC?'�4EBmRIMm�C?DJRJ�HLBWm�CL�NRGWLH�mT�DeDmKCmH�DmR�m�CmW?Q?CG� oBLRJ� T� EJH� DmRp� omR\� \OJH� @J� TJ@eFLRJ'� <� NGBm?KoeCOGBeFLCC\�CL�TJ@e�F?B?Q�BmK�G�N?OLTefEID\�CL�DGRLHp�CGB?oJEI�?oRLF�CL�RmDJp�TLEG�NB?FLKJEI�Ke|G�mCEGCDJFCe�B?TFmKOe'<mC� FJDJRLf� E?Km� �Q?R?KeUWJH� oLDLBLoMmF�p� NGBGoBLCJHo?RI�GFJOmFp� }?� OBeE\EID\� KCG@� m� CmWWU� ?KJCMG@� WJ@LRGCIOJ@J�QBeNL@J�N?�RmDLH�EL�N?R\H� m�CLDReHeUEIp�T?B\EIp

�wn

DRmKOeUEIp� HE?� TFmKOJ� FJH?KJEIp� OeKJ� SKGp�}?� B?oJEI� E?}?'2BJORLKmF� L�GCEeBC?��B?o?EJ�@?|CL�TCLSEJ� EJD\Wm'��?o�FDGTLNJDLEJp�EBGoL�o�N?DJKmEJ�CLK�MJ@�BmOp�\O}?�CG�omRI�G'�:LKEJ@�O?RJDI�NBLMUFLEJ@eEI�~LH?Fm�RUKJ'�<?CJ�@LEJ@eEI�FGRJOeOmRIOmDEI� TFmEmFp� NB?E?O?RmFp� L� \O}?� MG� CG� ToGBG|GEID\p� E?TLRJ�LEID\� eWLDCJOJ� FJTF?RIC?�� o?B?EIoJ� m� CLDGRGCC\p� \OGNB?�FDG�B?TOL|G'��G�FDG�TCLSKGEID\�EG|�e�F?B?|JH�LBHmFLH'

6?|CJS� CL�� TCLSKGCJS� oeCOGB� F?B?Q� K?ORLKC?��OmMefp?NJDefp� \O� FmC� N?oeK?FLCJSp� F� \O?@e� EGBGCmp� \O�@LDO?FLCJS'_?FO?RL�NGBGO?Nef�TG@RUp�}?o�TCLSEJ�LBHmF'�_?ORLKC?�DEeKmUfCL�e� ELOEJOe� CL� NmKDELFm� DF?Q?� K?DFmKep� TL� N?FmK?@RGCC\@JB?TFmKWJOmFp� DGOD?EmF� m� L�GCEmFjFCeEBGCCJOmF'� <?B?Q� TL� oeKIj\Oe� MmCe� DELBLfEID\� NmS@LEJ� N?FDELCM\�|JFJ@'� P� MI?Q?� FmC@Lf� oLQLE?� O?BJDEGS'�2?jNGB�Gp� B?TFmKLfp� \OJS� DELC� RUKGSNGBGoeFLf� F� KLC?@e� EGBGCmp� HE?� OGBefp� \Om� C?Fm� mCDEBeOMm�pTLB\K|GCC\p�T?FCm�CmS�FJQR\Kp�ToB?\p�NDGFKL'�_?ORLKC?�DEeKmUfTLDE?D?FLCe� CL@J� ELOEJOep� CL�m� NBJS?@J� o?B?EIoJp� FJFWLfDN?Dmo� BGSKeFLCC\'� 2mDR\� NGBGH?KmFp� DEBmWp� TF+\TOmF� ToJBLf@LEGBm\RJ� NB?� MJFmRICG� CLDGRGCC\p� \OG� DNmFNBLMUf� TN?FDELCM\@J'�2?jKBeQGp�FJO?BJDE?Fef�LBG�E?FLC?Q?�DEBL�CJ@JE?BEeBL@J� K?� NB?F?OLMm�� MJFmRIC?Q?� CLDGRGCC\p� \O� EG|N?FDELCMmF'� 0J@� DN?D?o?@� H?WG� F?B?Q� TL� oeKIj\Oe� MmCeFmK@G|eFLEJ� CLDGRGCC\� FmK� CLDp� K?F?KJEIp� }?� O?|CJSp� HE?N?NLKG� F� S?Q?� BeOJp� N?OL|Gp� HE?� T� MJFmRIC?Q?� CLDGRGCC\� TCL@J�DNmFNBLMUf'�<�E?S�DN?Dmo�CG�EmRIOJ�NB?F?Oefp�LRG�m�TLR\Oef'2?jEBGEfp� FmK+f@C?� FNRJFLf� CL� N?FDELCMmFp� \O}?� HE?DI� T� CJHTKLFD\�|JFJ@'�X?RI�GFJOJ�KG\OJS�WLD�ELO?Q?�FJO?BJDE?FeUEIpCLFmEI�N?F?K\EID\�T�CJ@�RLQmKC?p�KLUEI�ToB?Up�L�FJO?BJDELF�JpRmOFmKeUEI'� PFJWLSC?p� NmDR\� CLDO?Oe� CL� oeCOGB� N?FDELCMmFo?RI�GFJOJ� NGBGoJBLUEID\� QBeNL@J� N?� KF?fjEB?fp� mKeEI� N?DGRLHp�NB?D\EI�RUKGSp�}?o��H�NGBGH?FeFLRJp�o?��@�FNLF�oeCOGB'2BJ�EmS�CLQ?Km�K?FmKeUEID\�FDGp�}?��@�N?EBmoC?p�NB?�N?FDELCMmFm�CLDGRGCC\'

1KC?�T�CLSFL|RJFm�JH�TLFKLCI�F?B?QL�*�B?T@G|?FeFLEJCLDGRGCC\�m�N?FDELCMmF'�<mC�OJKLf�FDmR\Om�NB?F?OLMm�p�}?o�ELO?|F� CLD� ToeKJEJ� NmK?TBmCC\� K?� CGNGFCJH� DGR\C� Lo?� EJHp� HE?� TCL@J�DNmFNBLMUf'�<?B?Q�N?�JBUf�FmDEOJp�}?�S?@ep�CLNBJORLKpK?N?@?QRJ�TCLSEJ�oeCOGB�KmEJjNLDEeHJp�KmFWLEL�Lo?�Q?DN?KLBmE?Q?� WJ� E?Q?� DGRL'� 0BGoL� TQLKLEJp�}?� CL�m� NLDEeHJp� H?W� MG

�ww

CG?BQLCmT?FLCL�@?R?KIp�DF?fU�N?DELF?U�K?�F?B?QL�m�K?N?@?Q?UKR\�CLD�Ke|G�WLDE?�K?OLTeUEI�WeKL'�1WGFJKC?p�}?�F�MI?@e�fNGBGKeDm@� TLDReQL� N?FDELCMmFp� \Om� Te@mRJ� �H� FJH?FLEJ'�=J@?|G@?�Ke|G�WLDE?�N?WeEJ�F�RmDmp�WJ�E?�NmTCI?U�?DmCCUp�WJ�E?FWLDC?U� FGDC?Up� WJ� CLFmEI� FRmEOep*� \O� NLDEeHp� N?oLWJF�Jo?RI�GFJOmFp�TL@LDO?FLCJH�F�Oe}LH�omR\�NLBEJTLCDIO?��DEG|OJpOBJWJEIg� �<?FOp� F?FO� CL� N?R\Cm��*� m� CLTJFLf� N?R\Ce� WJ� RmD'<mDEOe� NGBGKLf� NLDEeH� NLDEeH?Fmp� F?CL� ?oRmELf� FGDI� RmD� WJN?R?CJCep�m�NB?�CG��K?FmKeUEID\�N?FDELCMm'�2?oLWJF�J�F?B?|mDRmKJ� Lo?� K?FmKLF�JDI� mT� DGRLp� }?� F� CLNB\@m� RmDe� Nm�RJo?RI�GFJOJp�NLDEeHJ�CLF@JDCG�QLC\UEI�HeK?o?U�N?�RmDmp�}?oFmKCLSEJ� o?RI�GFJOmF� m� }?o� K?CGDEJ� NB?� MG� N?FDELCM\@'X?RI�GFJOJ� MG� FJOBJRJ'� 0?@e� F?CJp� O?RJ� @Lf� FmKoeFLEJD\?oRLFL�CL�RmDp�CG�NeDOLUEI�EeKJ�NLDEeHmF'�<�RmDm�OBJUEID\�NGBGKNLDEeHL@Jp�L�O?RJ�TeDEBmCeEID\�T�CJ@Jp�TLEBJ@eUEI� �H�CGBLTK?� FGW?BL'� 2LDEe�OJ� KLUEI� ELO?|� FGRJOJS� FORLK� F� CL�eo?B?EIoe'�:G�?KJC�T�CJH�TLQJCeF�FmK�F?B?|JH�OeRI�Lo?�FB\EeFLF|JEE\�oLQLEI?H�N?FDELCMmF'

���

6?RJ�\�DNJELF�CL�JH�DEBmRIMmFp�WJ�CG�TeDEBmWLRJ�F?CJ�\OJHF?B?|JH�B?TFmKCJOmFp�W?ELB�2LD�N?TFmEeFLF�HLBLOEGBCe�DNBLFe'

<mDE'�<JH?B� m�FmDE'�4mBJS�FGBELUEID\�T�DGRL'�XeRL�@mD\WCLCmW'� <BLT� CL� N?Rm� OFLD?Rm� TLNBJ@mEJRJ� F?CJ� \OeDI�|mCOep�}?S�RL�NB\@?�CL�CJH'�<?CL�NBJDmRL'�AR?NMm�DH?NJRJ����m�TLoBLRJCL�K?NJE'�0eE�|mCOL�NBJTCLRLD\p�}?� ��� TLRJ�JF�CL�?oDGBFLMm�O?@LCKLCE� ?KCmf�� KGD\EOJ� B?TFmKCJOmF'� �G� DL@m� Q?R?KeUWm�oLDLBLoMm�g�BeDIOmp�omR?BeDIOm�S�?KCL�eOBL�COL'�<?CL�@LRL�DJKmEJCmWWU�F�OFLD?Rmp�DRmKOeFLEJ�TL�N?FDELCM\@Jp�L�\O}?�CLKmSKeEIpNmEJ�DRmK?@�TL�CJ@J�L|�K?��HCmH�OFLBEJB'��mRL����QBeNL�NGBGS�RLFJ�OmR�=<_'� bBeNL� DORLKLfEID\� T� n�@e|WJC� m� ��|mC?Op� �HCmSO?@LCKLCE�FJDRLF�DF?�H�B?TFmKCJOmF�K?�DmR�/m|CJOJp�<JMI?FLp�LDL@�Nm�?F�K?�KBeQ?��DF?f��QBeNJ�CLK�DGR?�b?R?FGMIOG'�4EBmWCJSNeCOE�@Lf�oeEJ�F�RmDm��4E?RGMI�'�:L�MI?@e�NeCOEm�DE'�FmDE'�XLSKLONmS@LF�}G�KF?H�B?TFmKCJMIp�m�Z�B?TFmKCJOmF�T�E?��QBeNJ�NmS@LRJDEBmRIMm� F� RmDm'� w� L�GCEmF� DELCeRJ� NGBGK� BGF?RUMmSCJ@� DeK?@'0LOJH�B?TFmKCJOmF�NmS@LRJ�EG|�DE'�FmDE'�1DEB?FGBHp�D?E'�0LBLDO?m�mC�m'�:L�NmKDELFm�TmTCLCI�L�GCEmF�F?B?Q�TFGBCeF�DNGMm\RICe�eFLQeDRmKOeFLEJ�TL�QBeNL@J�528p�T?OBG@L�TL�O?@LCKJBL@J'

�wk

AE?�T�N?FDELCMmF�}G�K?�TJ@J�K?FmKLFD\�NB?�Mm�TLH?KJ�F?B?QLpoeF�CL�?oGBG|C?DEm'�<DG�|�WLDEJCL�N?FDELCMmF�FNLRL�F�CLDRmK?OB?TFmKOJ� EJH� �Q?R?KeUWJH�'

4EBmRIMmp�}?�oeKeFLRJ�oeCOGBp�CG�TCLRJ�NB?�EGp�}?�\�@LUDUKJ� NBJSEJ'��G� EBJ@LR?D\� F� ELf@CJMm'� 0GNGB� NmK� DEB?Q?UTLo?B?C?U�DEBmRIM\@�CG�FmRIC?�oeR?�CG�EmRIOJ�NGBGK�CLDGRGCC\@pLRG�S�NGBGK�N?FDELCM\@J�Q?F?BJEJp�HE?�T�CJ@J�TJ@ef'

�G�FRmEOe�\�FRL�EeFLFD\�ELOp�}?�FD\�N?�EL�CL�@?U�LKBGDem�RL�WGBGT�W?E'�2LDL'�dGBGT�CI?Q?�N?KLFLRLDI�ELO?|�B?TFmKOLFmK� BG~GBGCEL�4Xp� bLCeR\OL'� 4EBmRIMmp� \Om� oeKeFLRJ� oeCOGBpNGBGO?CLCmp�}?� F� CL�?@e� oeCOGBm� N?oeFLF� H?B'� 7?@LCp�}?NBJS�?F� DUKJ� CL� FmKFmKJCJ'��G� KR\� CLD� FGRJOL� NBJOBmDEI'PLFGKGC?�ELOp�}?�O?RJ�HE?DI�TCLf�NB?�oeCOGBp�L�TJ@ef�KGmCKGpE?p� TL� NBLFJRL@J� O?CDNmBLMm�p� ELOJS� oeCOGB� FFL|LfEID\CGTLO?CDNmB?FLCJ@'

4ELBL� CL�L� NBJOLTOL� OL|Gg� �XGBG|GC?Q?� X?Q� oGBG|G�'X?UD\p�}?o�WLD?@�H?B'�7?@LC�F�B?T@?Fm�Tm�DF?�@J�DEBmRIM\@JCG�FJN?FmFp�F�\O?@e�RmDm�S�@mDMm�@J�TJ@ef@?'�=?|G�TLSEJ�FJNLK?Op}?�NmK�WLD�CLDO?Oe�F?B?QL�N?NLKG�\OJSDI�DEBmRGMI�F�N?R?C�m�NmKE?BEeBL@J� DOL|G� EGp�}?� WeF� FmK� DF?Q?� O?@LCKJBL'� 0?Km� F?B?QCLD�FmK�eOLf'�7mFC?�|�o?UD\p�WJ�DGR\CJ�CG�NmKDReHLRJ�DEBmRIMmFtF?CJ� WLD?@�@?|eEI�CGFJCC?�N?HFLRJEJD\�NGBGK� mC�J@Jp� m� MG@?|G�KmSEJ�K?�F?B?|?Q?�B?TFmKWJOL'�AE?DI� mT�CJH�@?|G�oeEJLBG�E?FLCJS�m�NmK�N?o?\@J�N?NB?FLKJEJ�F?B?QL�CL�OBJ�FOe'

6BL}G� CG� N?DJRLEJ� DEBmRIMmF� K?� DGRL� TJ@?U'�8RG� F� CLDDORLRJD\� ?oDELFJCJ� ELOp�}?� @eDJ@?� FJDJRLEJ� WLD� FmK� WLDeDEBmRIMmF�CL�B?TFmKOe'�2BJ�E?@e�K?FmKef@?D\p�\OL�DJEeLMm\p�\OmBeHJ�F?B?QL�m�\OL�F?B?|L�ELOEJOL'�dLD?@�@m|�CLDGRGCC\@�mKeEIoLRLWOJ�NB?�oeCOGBp�\OJS�F?C?�DN?DEGBGQR?'�2?FDELCM\@�F?CJELOJ� DO?B?� DOL|eEI'� 0BLNR\UEID\� FJNLKOJp� }?� CLDGRGCC\pCLN?�F�J� DL@?Q?C?@� o?RI�GFJOmFp� K?FmKefEID\p� WJ� F?B?Q?BmfCEefEID\�NB?�oeCOGBJ'

0eE�?NJDeU�FJORUWC?�EmRIOJ�DFmS�oeCOGB'�2?KLU�EeE�CL�me@?FJ�m�O?CDNmBLMmU'��G�EBGoL�B?Te@mEJp�\O�?KJC�DN?@JC�NB?oeCOGBp� L� ELOJH� oeCOGBmF� N?� 5OBL�Cm� oeRJ� EJD\Wm'� 6?|CJSoeCOGB� WJ� OBJ�FOL� oeF� mCLO�G� K?oeK?FLCJSp� mC�m� oeRJO?CDNmBLMm\p� @LDOeFLCC\p� ELOEJOL� N?FDELCMmF'� <� EJH� EJD\WLH@?|CL�TCLSEJ�oLQLE?�OBL}JH�FTmBMmF�O?CDNmBLMm�p� HJEB?}mF� mTCLCC\� NLBEJTLCDIO?�� ELOEJOJ'

�k�

b�YTUUV�� U\""\

�JEE\� F� oeCOGBm� oeR?� KR\�@GCG� m� KR\� DE'� FmDE'� 7JoLROJpWLDEJCC?� m� KR\� FmDE'� 0GE\CJp� C?FG'� <Dm� mC�m� F|G� TJ@eFLRJ� Fe@?FLH�o?RI�GFJMIO?��KmSDC?DEm'

=J�FKF?H�oeRJ�K?Dm�F�D?ECm'�PJ@?U�N?DEmSC?�BGSKeFLRJpTF?KJRJ� o?�p� OFLBEJBeFLRJ� NmK� Q?RJ@� CGo?@p� F� DCmQLHp� NBJF?QCJ}LH'�ALBWm�NBJC?DJRJ�T�KLRGOJH�DmR'�̀ O}?�F?B?Q�NmKmS�?FDRmK?@�TL�CL@J� m�oeF�WJDGRIC?�omRI�JSp� E?�TFJWLSC?�TLDELFLDJNCeRL� F?QCG@p� DEG|Oe� TL@mCeFLRJ� NmH?EJCDIOJ@J�@mCL@J� mNm�RJ�CLSomRI��FJQmKCJ@�KR\�CLD�EGBGC?@'

0GNGB� WeU� DGoG� KJFC?� m� CGDN?OmSC?'� PKLfEID\� @GCmp�}?D@GBEI�F�oeCOGBm�CG�RJMLBDIOL'�6BL}G�oeEJ�CLT?FCmp�F�RmDm�WJ�FN?Rmp�FmWjCLjFmW�T�F?B?Q?@'�:LFmEI�F�o?U�\�N?WeFLFD\�DN?OmSCm�G':G� H?We� N?@GC�eFLEJ� TLDReQ� KBeTmFjBGF?RUMm?CGBmF'� <Jp�}?K?FQm�B?OJ�NBLMUfEG�F�NmKTG@GRR\Hp�F�OBJ�FOLHp�FJO?CefEG�ELOeDL@e�FL|RJFe�B?o?Eep�\O�Emp�HE?�CL�N?Rm�o?U'�=J�TCLf@?�FL�e@eBLFRJCep�FL|Oe�m�FmKN?FmKLRICe�NBLMU'�<L�G�TK?B?F+\�CJKmfe�F?QOmSp�DJBmS�TG@Rm'

0mp� HE?�FNLRJ�F�OBJ�FOLHp�@LUEI�ELOm� DL@m� TLDReQJp�\O�EmpHE?�FNLF�CL�N?Rm�o?U'

XeFLUEI�FJNLKOJp�}?�N?FDELCMm�Ke�JRJD\�T�oBLOe�N?FmEB\F�OBJ�FOLH�Lo?��H�TLRJFLRL�F?KL'�XeRJ�FJNLKOJp�}?�EBGoL�oeR?B?ToJFLEJ�FmOC?p�}?o�FmKKJHCeEJp�H?W�F�DGRm�F?B?Q�NGBGNB?FLjK|eFLF�?oRLFe'

�JFeWJ�F�MI?@e�oeCOGBm�NmK� TG@RGUp� WLDE?� DELFRU�D?omNJELCC\p�WJ�RUKJCL�FJSKG�|JF?U�T�Emf��\@J'�6BJ�FOL�B?oJEIRUKJCe� o?\TRJF?U'

:LE?@mDEI� OFLBEJBeFLCC\� CL� FmRIC?@e� N?FmEBm� FNRJFLfK?KLECI?�CL�CLDEBmS�m�CL�o?fTKLECmDEI�N?FDELCMmF'�2LBEJTLCp�\OLOE?B�CL�DMGCmp�F@mf�m�@eDJEI�TLDE?DeFLEJD\�K?�C?FJH�?oDELFJC'

�mOLFJEI� @GCGp� O?Q?� TeDEBmCe� FGDC?Up� HE?� @GCG� F|G� CGN?oLWJEI'� PJ@?U�N?FDELCMm� eORLKLUEI� oLQLE?� NR\CmF� B?o?EJp\Oe�Ke@LUEI�FJO?CLEJ�FGDC?U�m�FRmEOe'�PJ@?U�@J�?ToB?Uf@?DGoG�EG?BGEJWC?p�DEeKmUf@?'�<RmEOe�NGBGF?KJ@?�MG�F�NBLOEJOepNGBGKLf@?�mC�J@'

5@?FJ�NmKo?RI�GFJMIO?�� KmSDC?DEJ� ELOmp�}?� EBGoL�SEJ�NmKTG@RU'�<EBJ@LEJD\�BGSKeUWJ@�QBeNL@�CG@?|RJF?'�<?B?Q��FJKO?TCLSKG�DRmKp�o?�@Lf��JB?O?�B?TFJCGCe�B?TFmKWe�@GBG|e'�=LS|G

�kq

N?R?FJCL� CLDGRGCC\� oeRL� LBG�E?FLCL'� 2mK� EGB?B?@� oeRLNBJCGF?RGCL�NmKNJDLEJ�TL\FJ�DNmFNBLMm�T�?BQLCL@J�=�Xj=<_'�PMI?Q?�[�FmKD?EOmF�DNmFNBLMUf'��G�NGBGFL|C?�DRLo?FmBJ�S�o?\QeTJ'

PCLS�?F�J� N?FDELCDIOJS� DRmKp� F?B?|m� DNGMQBeNJLR\B@eUEI� DeDmKCm� �LBCmT?CJp� ?oR\QLUEI� RmDJ� m� DGRLp� mKeEI� FN?Q?CU� ELO� K?FQ?p� N?OJ� CG� TCJ}LEI� N?FDELCMmF'�1NGBeFLEJomRI�J@J� QBeNL@Jp� ELOp� \O� CL�/G@OmF}JCm� MG� @J� S� B?oJRJpCG@?|RJF?'�2?jNGB�Gp�E?@ep�}?�EGBGC�CG�T?FDm@�FmKN?FmKCJSpN?jKBeQG�*�DJRICL�L�GCEeBL�m�FGRJOm�F?B?|m�DJRJp�@m|�\OJ@JFGRJOL�OmRIOmDEI�O?RJ�CmH�o?RI�GFJMIOJH�NLBEJTLCmFp�K?�E?Q?FDm�DELB�JCJ�m�NmKDELB�JCJ�TLOmCWJRJ�DNGMm\RICm��O?RJ�=<_'5Dm�Mm�NB?EJN?FDELCDIOm�DJRJ�NB?FLKJEI� QGC'�@LS?B�4LoeB?FpO?RJ�CmS� o?RI�GFJMIOJS� NLBEJTLC'� `O� O?|CL� FGDCLp� ELO� mEGNGBm�C\� K?FQ?|KLCCL� KR\� N?FDELCMmF'� 2?DEmSC?� NB?� CG�Q?F?BJ@?'� PKLfEID\p� }?� F?CL� CL@� NBJCGDG� }?DI� C?F?Q?pBLKmDC?Q?p�NBJCGDG�T@mCe'�2?oLWJ@?'''

���

:G@Lf�EeE�RmDep�F�\O?@e�CG�TJ@eFLRJ�o�N?FDELCMm'�_GO?RJp\O}?� F� EGBGCm� DN?OmSC?p� NB?H?K\EI� KmFWLEL� WJ� Q?DN?KLBmK?B?Q?Up� RmD?@p� Q?NjQ?NOLUEIp� Lo?� DNmFLUEIp�}?o� N?FGDGRJEJN?FDELCMmF'�6?RJ�|�F�DGRLH�EBJF?|C?p�E?�K?FO?RL�EJ�Lp�EmRIOJF+�KRJF?�oBG�eEI�D?oLOJ'�0?Km�@?|CL�oLWJEJp�\O�FEmOLUEI�|mCOJm�W?R?FmOJ'�<�CLNBe|GCJH�HFJRJCLH�@J�FDG�DO?B?�NLOeFLRJp�LDEmSOe�T@mMCUFLRJ�}G�?KCJ@�DEmSO?FJ@'

���

PLFKLCC\� KJ|eBC?Q?g� CmWWU� FLBJEJ� DCmKLCC\p� FKGCICLQR\KLEJ� TL� N?B\KO?@p� WJDE?E?Up� N?KLFLEJ� CL� ?omK� H?R?KCeNGBGOeDOep�\O}?��|L�TFLBGCLp�E?�NBJQBmFLEJ����CL�NBJ@eDm'�<mCKoLfp�}?o�TLF|KJ�oeRL�WJDEL�N?DeKL�EL�K?RmFOLp�}?o�O?|CJSFJWJDEJFD\p� FJ@JFD\p� ?omNBLFD\p�}?o� oeRJ� WJDEm� DOGROL� K?R\@NJp�CLRJEL�CL~ELp�FJWJ}GCL�ToB?\p�}?o�BGWm�oeRJ�N?DORLjKLCmp�}?o�CL�FJNLK?O�LR\B@e�CG�oeR?�TL@m�LCC\'

<mK�DFmELCOe�K?�FGWGBL�CmO?@e�CG�FmRIC?�B?TN?\DeFLEJD\'7mFC?�|�KJ|eBCJS�EBJ@LF�N?DEmSCJS�TF+\T?O� mT�DEmSO?FJ@�ELT@mCUFLF�S?Q?�}?� KFm� Q?KJCJ'�<GWGBU�FLBJF� F|G�CLDEeNCJSKJ|eBCJS'�6?|C?��Deo?EJ�FDm�@eDmRJ�?o?F+\TO?F?�OeNLEJD\�eFLCCmp�\Oe�DEBmRIMm�NBJE\QCeRJ�T�?KC?Q?�DGRLp�KG�oeF�@LCLDEJB'

�k.

���

_Cm� F� oeCOGBm� @J� NB?F?KJRJ� ELOp� }?o� F?CJ� oeRJ\OCLSomRI��FJO?BJDELCm'�:L�MG� oeF�N?EBmoCJS�B?TN?KmR� WLDeKC\'�2?B\K?O�KC\�oeF�ELOJSg�FBLCMm�Y�Q?K'�*�FDELFLCC\p�FmK�Y*n� Q?K'�*� BeHLCOLp� @JEE\� EL� B?oRGCC\� N?B\KOmFp� np�[� Q?K'�*@?RJEFLp�npq[�*�DCmKLCC\p�w*q.�*�TLC\EE\p�q.*qZ�*�?omK?FLNGBGBFLp�qZ*qn�*�N?N?ReKCGFm�TLC\EE\p�qn*qw�*�FGWGB\p�?NmDR\WJ}GCC\�ToB?�p�.�p�[�*�@?RJEFL'�2R\C�NBLMm�@J�WLDE?�T@mC\RJpTLRG|C?�FmK�e@?F'�:GKmR\�m�DF\EL�oeRJ�FmRICm�FmK�TLC\EI'

���

<J�OmR�DEBmRIMmF�NGBGoJBLf�H?B'�=JB?C'�4EBmRIMm�@LUEIFJFWJEJ� mDE?BmU�5OBL�CJp� TFGBELfEID\� eFLQL� CL� Q?DN?KLBDIOmNmKDELFJ�CL�?��KGB|LFC?DEm'�P�RmEGBLEeBJ�*�FL|RJFm�m�N?DELEm'6?B?EO?� mDE?Bm\� eOBL�CDIO?�� OeRIEeBJp� �JB�G� mDE?Bm\eOBL�CDIO?Q?�FmSDIOL'�<�N?RmEJWC?@e�FJ�O?Rm�DEBmRIMm�FJFWLUEImKG��CL�?��o?B?EIoJ�EL� ���NGBDNGOEJFJ'�2BJ�E?@e�TFGBELfEID\T?OBG@L� eFLQL� CL� EGTJ� �PL�}?� o?BGEID\� 528�p� m� MG� DEBmRIMm@LUEI� FJFWJEJ� CLNL@+\EI'

�?o�F@mEJ�oJEJ�F?B?QLp�EBGoL�NmTCLEJ�S?Q?�ToB?U'�0?@eCL��DEBmRGMI�@eDJEI�oeEJ�?TCLS?@RGCJS�T�F?B?|?U�mKG?R?QmfUpS?Q?� N?RmEJWCJ@�|JEE\@p�}?� F� CL�mS� FJ�OmRICmS� NB?QBL@mCLTJFLfEID\� �D?FfE?TCLCC\�'

2BJ�FJ�O?Rm�CG�TLoeFLf@?�NB?�FJFWGCC\�O?CDNmBLMm�p�\ONB?F?KJEJ� NB?NL�LCKe� CL�JH� mKGS'� 0?@ep�}?� NGBGH?KJ@?� CLmC�e�ELOEJOe�*�O?|CJS�@eDJEI�FJFWJEJ�NLBEJTLCDIOe�ELOEJOeEL�DEeKmUFLEJ�FmSDIO?Fe�RmEGBLEeBep�\Oe�@Lf@?�NmK�BeO?U'��GoeR?�o�DEmRIOJ�KR\�DEBmRIMmF'

<mDEeC�0GE\CLp�H?B'�=JB?C�m�\p�N?omW�FDmH�NmKDELF?FJH�BGWGSpK?ORLKC?�FmKDFm|ef@?�mDE?BmU�5OBL�CJp�FDGDFmECU�mDE?BmUp�KG}?T� mDE?Bm�� KJNR?@LEm�p� ~mR?D?~m�p� N?RmEJWC?�� GO?C?@m�'� >DE?BmUCLMm?CLRIC?jN?RmEJWC?�� Ke@OJ� @Jp� DELB�JCJp� NGBGB?oR\f@?�BeCE?FC?p�\O�EG|�F?B?|m�FmSDIO?Fm�NmKBeWCJOJ'

6?|CJS�O?@LCKJB�528�@eDJEI�oeEJ�N?RmEJWC?�FJB?oRGCJSp@eDJEI� ?BmfCEeFLEJD\� F�N?RmEJWCmS� DJEeLMm�'�2?omW�N?RmEJWC?Q?FJ�O?Rep�FJFWLf@?�B\K�NJELCI�mT��D?FfE?TCLCC\�'�2BLFKLp�}?�CL@oBLOef�oLQLE?�@LEGBm\RmFp�LRG�O?|CJS�DELBLfEID\�E?S�@LEGBm\Rp�}?@Lfp�FJFWJEJ�\O�DRmKp�}?o�TJ@L�CG�NB?S�RL�@LBC?'

�k�

6?RJ� H?B'�=JB?C� NB?FLKJEI� CLFWLCC\p� @J� F� E?S� WLDNJ�G@?� TFmEJ� Lo?� DEeKmUf@?� NmKBeWCJOJ'� <GWGB?@� NJ�G@?DN?@JCJ�T�@JCeRJH�o?�F'�6?RJ�MG�FDG�CLD�FE?@JEIp��eOLf@?B?TBJF?Og� KJDOeEef@?� CL� BmTCm� EG@J� Lo?� TLOmCWef@?� FGWmBNLBEJTLCDIOJ@J� NmDC\@Jp�|LBEL@J� m� ?N?FmKLCC\@J� NB?� DF?�?D?oJDEm�NBJQ?KJ�T�@JCeRJH�B?OmF'

#�R�" U���T�!$�"%R UU\

�G�NGBGK� @?�@� FmKH?K?@p� NBJ� OmCMm� FGBGDC\p� K?BeWJF� \FmDE'�0GE\Cm�FJFWJEJ�NJDLCC\�CL�@L�JCm'�1o?F+\TO?FL�KmFWJCLFJO?CLRL�KLCG��S�TLFKLCC\�m�K?�@mD\M\�NJDLRL�CL�@L�JCm'�0GNGBF?CL�NGBGoJBLf�N?RmEJWCe�RmEGBLEeBe�KR\�oRJTIOJH�QBeNp�\OJ@}G� TJ@?U� T@?|e� NGBGKLEJ� N?�Ee'� �I?@e� DNBJ\f� CGjNLBEJTLCDIOL� TJ@L� ELOp�}?�@?|CL� FJH?KJEJ� T� RmDep� K?� E?Q?TF+\TOJ� T� DeDmKCm@J� oeCOGBL@J� @Lf@?� CLRLKCLCm� WGBGTD?EGCC?Q?�0LBLDOL'

`�NGBGQR\KLU�N?�Eep�}?�NBJS�RL�K?�@GCG'�1DI�TLNJDOLFmK�OjBL�X?BLg

W���&�-���.��C�� ��%/�U�"�UN�����'�!��������C!��� ��+ 0 ������/B� �� �� %�� ��1��/ � ��1�� ���

����(� �/������0�%1�� �& �D�/������& �0�&�Z���&�����[& ��) �� �) ,�0 0&c�0��B� ���) �b ���&�A,��&� ����%1�& ���'�B� ��&��_���&&�+��)����&'����)�D��1�0(���+�K�� ������� ��� ���� (� �/ �� &���%1�& &�� �� / �&���0(����&�& ��A��� ��% ZY �������&[ 0�%1�& ��� � �� ��0��(�& �0��B����J�%�����WJ� ���X��� ����.)&� ������/���(����� ���/B�& �&�����

�����&������)������������ �F�M�+��%ZM&�������������/��L��(���&����(���&�%��&�� �������,���/U�N���� ���&,���Y �������&[�4�1���+��% ��������a��%,�& ������� &� Z&������[ ��� ����)��� �������F��� &������ G&������"#� �����&�� �����) �������&���&��%/-'/I�%����������L�+��0&����/B��� �&�������J���3,���0&������"NB�UK# �������&�����)�&� ��&�+��%/B�, .)&��1����� � ��������!K��D���������������3�������������&���3/B��&� ��� �� ������/ �� �� %��� 0���1���/ &�� 0�,��& 0 �,�+

�kZ

������)���B�)�+��%����� �&���%1�&�G�����0����0��E�F��������&���&��������0���+&��������0���&�%(� /B�, ����������B����������&��� ���0���/0��%����� �0��&����������� �, ��&������ ������ ������1���% 0 &��������K��DK���G�0��(�+/B�����������(� 0������������0�(� ��� ���&���)����%1���� �,����������� ��G,�3&�)��%����B�P#�Y�UN����1� �A��&(��F �)�����&�����0��,�&0� ����� ��W��������X�",���1�&���&� ��d�.&����'��,���0�,����/ ,� 0���0 ���c.)��� �&�� W,� ���&X� ����� 0 ��1���,�����,����!�������/,��������������1�) ���(��0&�������

��'� ���1� �� ��'��&� �� ����% ����1� &� ���� ��&��������) �������&/B�&���%1��0(���&����&���/ ���)/)������%1�� ���&�����ZD������/S� �&���/��)���/��,�&����J� ����[�!K���&��%0��3/��0�����1��������� ���� ����) �������&&��c3���&��,�&�3�� ���,�3&��� ����&������� ��� ���1� ��� ������) �+��% ��0��� ���' ��% &�������1�& �0�����(���&��/�������1���� ��������'����� ���,���� (���&���/��'�A��)��

����+B�����,�'�+,�����B� ������&����� ��CJ���XP�N?B'�X?B?@�F+\TLRL�@GCG�KBe|oL�}G�T�EJH�WLDmFp�O?RJ�@J

oeRJ� CL� /G@OmF}JCmp� F� �0BJOeECJOe�� CL� DHmKCmS� WLDEJCm'4NmRIC?��eWLDEm�F�o?\H�@J�CG�@LRJp�TL�FJC\EO?@�FGRJO?Q?�o?UT�F?B?|?U�KJFmTmfU���'��'�ZY�B'�F�DD'�4GBGKCf�<GRJOG�*�/eOmF*�A?MGCI'�:LE?@mDEIp�O?RJ�NBJS�?F�QBmTCJS�qkZn�BmO�m�T�CJ@oGTeDELCCm�?oRLFJ�EL�o?�p�NmDR\�TLDmKOJ�CL�QGC'�4FfBWGFDIO?Q?pFmC� DO?B?� FmKQeOCeFD\� m� F� EBJ� KCm� NmTCm�Gp� q� OFmEC\� TB?oJFTCL@GCJEe� TLDmKOep� ?KCe� T� CLSOBL}JH� CL�/G@OmF}JCm�*� CL<2��<?SDO?�2?RIDOf��T�0mDC?�p�KG�TCJ}JF��.�oLCKJEmF'��G�oeFNGB�JS�OB?Op�\OJ@�FmC�@GCG�FmKE\|JF'�<CGK?FTmp�CL�<GRJO?KCmDF\ELp� @J� TReWJRJD\� CL� Q'�=L�eBm� m� OeBGCG@� BGSKeFLRJ� N?XGDOJKm'� 2mDR\� @LR?�� NGBGBFJ� qn'� Y'� @J� ReWJ@?D\� TC?Fe� ELDNmRIC?� KmRJ@?� K?RUp� o?fFe� DRLFe� m� .�'� Y'� qkZn� B'� BLT?@NGBGH?KJ@?� F� 5OBL�Ce'�1oDELFJCJ� CmO?RJ� CG� NBJQC?oRUFLRJS?Q?'�PLF|KJ�FGDGRJSp�RUoJF�FGDGRG�E?FLBJDEF?p�N?F?KJFD\�Ke|G@?BLRIC?� m� Ke|G� RUoJF� DF?�H� DEBmRIMmF'�1D?oJDE?� FmKFL|CJSpF@mF� F@mR?� @LCGFBeFLEJ� EL� BGSKeFLEJ� N?� EGBGCm'� :G� RUoJFNBJS@LEJ�omRI�JH�o?�F'�4GR\CJ�RUoJRJ�S?Q?p�EmRIOJ�FJ@LQLRJomRI�G� �F?SCJ�'� /UoJF� DNmFLEJ� Ee|RJFJH� NmDGCIg� �0JH?� RmDp

�k[

N?omR\� CI?Q?��LCMm�p� �2?RmDD\�p� �0GoG� CG@Lp� L� \� DOeWLU�p�dGBF?Cm�@LOJ�p��=J�CJCm�DEBmCeRJD\�TC?Fe�p��0J�NBJH?KJ��K?@GCG�F�Em�C?Wm�p��/G}GELBDIOJS�@LB��'�P�N?FDELCDIOJH�NmDGCIRUoJFg��<DG�FJ}G�TKmS@G@?�DJCI?j|?FEJS�NBLN?B�p�T�CLB?KCJH*�RG@OmFDIOmg

WJ���0�������F���������% ���/T�����������%��/��'����&� ���X�

/UoJF� DNBJS@LEJ� FmK� DEBmRIMmF� FDmR\OJ� FJDR?FJp� C'� NB'p�@Lf�NGBGDEBL�GCJS��ReC?O�p� �6+D?om� Q?�o?RJE�p� �MUBLSR\�p��NLMGB?@�p� �HWGCm�p� �CG� EBLSRUS�p� �R\SEGB�'� :L� O?|C?@eOB?Mm�KoLF�NB?�F?\OmFp�H?EmFp�}?o�O?|C?Q?�DEBmRIM\�FB\EeFLEJEL�}LDRJF?�FJNB?FLKJEJ�T�o?�F'�<|G�DL@L�TLNJDOL�N?OLTefp�\OFmC� EeBoefEID\p� }?o� FDm� DEBmRIMm� oeRJ� omR\� CI?Q?'� dJ� oeKGFK?F?RGCJS�T�Mmf��BG?BQLCmTLMm���:LNGFC?p�CmO?RJ'

<� 5OBL�Cm� @J� B?TmS�RJD\� K?oBJ@J� KBeT\@Jp� \O� o?fFmE?FLBJ�mp�CLK�D'�beDCG'�`�H?EmF�oeEJ�F�CI?Q?�?DmCCUp�O?RJ�oeF}G�F�BGSKmp�LRG�TLNLF�DCmQ'�7LT?@�T�N?B'�X?B?@�N?NB?}LF�\�E?KmEG|� D?EGCC?Q?� FJH?FCJOL� 0LBLDLp� mKGSC?Q?p� FTmBMGF?Q?DELB�JCep� RUKJCe� HBeDELRIC?Q?� HLBLOEGBep� \OJH� BmKO?TeDEBmWLfEID\'

���

2mDR\� E?Q?� NGBGWJEeU� KBeQe� TLNJDOe� FmK� H?B'�1BRGCOLpD?EGCC?Q?�FmKKmRe��XeRLFL�g

W���&�-���.��C���'����������C��&������+�� /B��U�"�UN��&� ��&�������3&���I������

�� ������ ��/��0���&�& ������3&�%�����+�/����/B�&������ �&�'��0��� ��&���,����������&'�����������0�&��(�����,���&�/�0�&'��&�%1������)��&����

P"� "� UN �� &�� ���&� ��� � �� &�1���� ��&����& � ��&������ &�)�&���D��1��e��% &�������3 # 0���&�) ��������/PF(���&���!�,0�/MF��3&���a&���/UF��3&���I������/#F�����&���!���,���!���,��&0��� ��0����U�"���&�����&����/B� �������I����)�/��0��%�R&� ���1���� &�.)��B�&/������&�%!���,��/ ���!������ � ��������1��&��������&� J�%���

�kY

��B�&��������B�������++�������,����4������ ���&�������0���&�3���.&���E���������A �������&������ ��� ����� �����3 0� ������/ )����� ,� �� a� ������ �� �0�,��1��� �,���F,�'���&��%�������� �!���(���)���������& �����&��,����,���1�&���������&(����J�&�� �����&�)�&����D��1��������� ����(����0��B�G�������/���0�� ����&��&���B� ��&��

L��U��b�&�� &����&��� &���-��������������%�0,����/0&��/ ��&� W-��/ �&������ � ���� ,�����,�X FA������/ &���(�� &����/ ��d����F ������ J�������%/ ����������W���������&�XF ��������%/��&(����0�&��&1�)/����������W��������XF ������J�������%��&���0����(�����������3+WG������ ���X����1��-��KG�)���

E���1���/B���&������ H����+B����,�'�+B� ��&�.0���&��CA������������������+�����,���������&�B��� �!��������

A���(� �������&�+�� ��� ������������+0,����� �!��������,������.)���,����� ���1��/�,�������.)�����'�������,�(����&��F&�3�������&�����

A�X1DELCCmS�BLT�T�H?B'�1BRGCO?@�\�oLWJFD\�.�'�q�'�Zn�B'�F�RmDm

CLK�NBJDmRO?@�2mKoe|�D'�/e|?O�b?B'�<mC�NBJS�?F�K?�@GCG�CLDEBmWep� FmKFmKLEJ� \O� DELBJS� TCLS?@JS� T� o?U� CLK� D'� 4GBGKCf<GRJOG� EL� ?EBJ@LEJ� C?Fm� CLOLTJ� CL� TJ@e'� 2BJDEmSCJSpmCEGRm�GCECJSp�TCL@GCJEJS�FJ�OmRICJO'�=LF�TL�D?o?U�K?oBJSFmSDIO?FJS�FJ�OmRp�oeF�[�B?OmF�F�BmTCJH�LB@m\H'�>T�DF?fU�D?ECGUF� qkZn� B'� FmC� TJ@eFLF� CL�/G@OmF}JCm'� XL|LF�}G� N?F?UFLEJBLT?@� Tm� @C?Up� LRG� O?RJ� N?WLRJD\� FGRJOm� o?�� m� Q?R?Kp� FmCNGBGS�?F� F� 5OBL�Ce'� 1KJC?OJS� O?@LCKJBp� }?� TCLfNLBEJTLCDIOe� ELOEJOe�o?B?EIoJ�CL�CLKKCmDEB\CDIOJH�oLQCLH'

���

0BGE\�TLNJDOL�T�WGBQJ�*�FmK�D?EGCC?Q?�0LBLDOLgW���&�-���.��C�� ��%/Mb����UN�����'�!��������C��&������+/B���1��&���� �������&/0��+ �� ��

���&�B������&������&UN��UNY�E���%����&�����&� �)�����

�kn

���&�B����� E���0�&/ B�, ����� ���� &������ ����% ����1�0����(�&��� 0������'�&���� )��(�& �� 0���� J���1� �� ��.)���� &'� 0�,�0��(���/ � ����� 0����(�+��� ������ ������ ������.������&�� ������'���������� �0��+��/B�0���+�� &����� )����� ,�0 ����(��. �����,� �� ���� ����&�0�����&����,������&����������$�N��b�UN�����0��&�����&� ��������0����������

�����������0��� ��&����3&���J� �����/B�%���&��&,�����/����� �&0��� ������D���,��/B�,�������&&�����)��(����/�������,���&������1������(�&��3&���J� �����,���&��� ��1�% ,�����/ ��� &�� ��0����& �������& ��' ��1�������&������������-�����&������+/B�PN����&��&��,����3&���!�0����S� ��)������� ���,�/��,����+&���/.)����)&�%1���� ��%��&���/ ��&� ����&���2�%)���&����&���.)'�&���/�������(���&������/��3&�%!�0��������������&/�����%,���1�&��������� ���1�& �/B�0�����&��� ���(�������&������ ������3&�%!�0����� ����&��,���&��������,������� T��(�& 0 ���&1��� �� 0�,��&/ ,� ��& �&�) )&���) �������&/B�������M"/Nf����(���J���,��+�����&��d��+/��,��0�����&/�����%��)���&�������G�������� ���,�/B�&�%1����,�����/0�������&�����)/B��&������&���& ���E�-��)/��,����� ���,�&/��)����0������(�&�&�&������(��.� ���������. 0,��.� ����/ 0�������&���/ &��� &���������� ��&��� �� � ���������� ����1�� � ������� �� �� �� ������������0���+/&����%1����&B���c� ��0�,����& �)��(�/B����0���1��� ��T&���) �������&�0�,��&�� �,��$���0�)&���,�F������&������G��3�� �/��� ������������1�0�&&���/B���)U��'�� ���,���F�� ������,�����,�0����F������ ��1���L�0����&����� �������� ������+���0&�������&(���/B�0��������+��/�� ��������������

4�3&�% ��&,�1 ,�& 0�,�0��(���% )��(���� � �� ������� ����&�����& ���0������&��� ���S���&�%�

G �����+ �K�� ���)� 0&c�0�� ���������% (���0 �������3&���!� �������&��,����� ��%��%/�'�� �����E�0��(�������&���������&������ �����!���0��0� ������'��,����� �&��� �/��0��(����� �� ���( �(� �$���0&���&F,��� ������ �&�����&�������� ����/,���)�&0�)�&���%&�� ��/����'��� �������B�&&�� ��)��������1�&�3�����������/& � �����/ 0 ����� ��+ 0&c�0��/ ��+�������% ����� D����

�kw

(���&���4�,�(����3&����������� ����M�� �������&�����������%������������� �,� ������������1�) ������)�����+/B�0��,�����/,���������,�����%�G-K(���+����+0&c�0��� ��&'������%��0�,��&����� WJ���&X�2�&����� ������' �� ��3 0&c�0�� (���0 �,��&� � ����L�'�/�����&�� �� �B� �0��,����PP����,����,��&����� Wa,�����X�E� ����0�����1�+����0���(����&� ���+�����1��/���0�����1������a �����&..0����./B�,������������0�����/B�&��) ������)��0��)����� ��

J�'�+���&��������B� ��/B� ��&�����0���&���/��'����&� ���

G����&�+/B���&��(��%��� ��� ��X�4?EGCCJS�0LBLDO?�*�MG�CLSOBL}JS�O?@LCKJB�CL�<mKEJCOe

�=LOmFOL�*� .Z�'� 4F?�@J� FmKFL|CJ@J� TLDmKOL@Jp� TCLCC\@FmSDIO?F?Q?� @JDEGMEFLp� NLBEJTLCDIO?�� ELOEJOJp� FTmBMGF?UN?FGKmCO?Up� DF?�@� HBeDELRICJ@� HLBLOEGB?@p� OLBCmDEU�*TK?oeFLF� D?om� FGRJOe� RUo?Fp� NBJTCLCC\� m� N?�LCe� @m|N?FDELCM\@J'�:LDGRGCC\� ELO� RUoJR?� S?Q?p�}?� NmK� WLD� S?Q?NBJH?Ke� K?� DGRL�*� FDm� ?K\QLRJD\� DF\EO?F?� EL� Q?DEJRJ� WJ@@?QRJ'�<DUKJ�CLTJFLRJ�S?Q?��CL��0LBLDO?�'�PL�WLD�mDCeFLCC\D?ECm� �XLDGSC�� NmK� O?@LCKeFLCC\@� H?B'�=JB?CL�*� FmC� oeFQ?R?FCJ@�DE?FN?@�Mmf��D?ECm'�=LS|G�FDm�TLDmKOJ�m�o?��Mmf��D?ECmpTFGKGCm�CL�/G@OmF}JCm�m�F�5OBL�Cmp�EBGoL�NBJNJDLEJ�NGBGKeDm@0LBLDO?Fm'� <|G� E?Kmp� O?RJ� NBJ� RmOFmKLMm�� FDmH� N?QBLCJWCJHDELCJMI� m� @mDMGFJH� �LBCmT?CmF� CL� /G@OmF}JCm� \� O?@LCKeFLF?NGBLEJFCJ@J�Km\@J�EBI?H�D?EGCIp�FmC�?EBJ@LF�NBJTCLCC\�TLFJBmTCGCC\�F�o?U�.q'��'�ZY�B't�KGOmRIOL�KCmF�NmTCm�G�TL�o?��FD'�<JD?WLCJ*6?|e�CG�m���'��'�TL�omS�CLK�DD'�4GBGKCf�<GRJOG*�A?MGCI�*�PLQ?WGF+\'

_Be|CmSp� FGDGRJSp� TLF|KJ� eD@mHCGCJSp� @LF� CLKTFJWLSC?MmOLFJS�NmKHmK�K?�omSMmF'�1KC?Q?�BLTe�NmDR\�TLDmKOJ�CL�o?RI�GFJMIOGLFE?� omR\� D'�/\�OJ�=eB?FLCmp� O?RJ� DEBmRIMm� B?TmoBLRJ� BGWm� TLFE?@L�JCJp�CL� \OmS�?DELRLDI� EmRIOJ�?KCL��OmB\CL�OeBEOLp� FmCTFGBCeFD\�K?�DEBmRIMmFg��_BeTmp�WJ�K?TF?RJEG�@GCm�FT\EJ�MU�OeBEOe��

:GBLTp� NGBGDJK|eUWJ� CL� TLDmKMm� .j�� KCmp� Q?F?BJFg� ��?oFoJEJ� o?RI�GFJOLp� FLBE?� m� �� KCm� CG� �DEJ�'� X?\EID\� S?Q?o?RI�GFJOJ'� 4RmKWJS� o?RI�GFJOp� DE'� RGSE'� 8RI?�JCp� DOLTLFBLTg��6?Q?�FmC�H?WG�FoJEJp�Fo+f�'

�kk

���

^�F�@GCG�}G�TLNJDOL�FmK�D?EGCC?Q?�4ELHLp�N?B'�6LB@GRUOLpW?E?F?Q?�XLSBLOLp�W?E?F?Q?�bLSKL@LOJ�m� mC�JH'

4?EGCCJS�4ELH�*�MG�@mS�K?oBJS�KBeQ'�=J�DNmRIC?�F?UFLRJ@LS|G�.�B?OJ'�_G\OJS�WLD�FmC�oeF�F�D?ECm�OjBL�X?BL�oeCWe|CJ@'0L@�N?WeFLFD\�Cm\O?F?�m�TL�K?TF?R?@�NGBGS�?F�K?�@GCG'�2mDR\E?Q?� \� NGBGKLF� S?@e� O?@LCKeFLCC\� CLK� .� D?ECGU'� <� WGBFCmZY�B'�.�D?ECU�TLoBLRJ�FmK�@GCG'�4?EGCCJ@�DELf�E?Km�OjB�6BJRLWpL�OjB�4ELH�W?E?FJ@'�6?RJ�?KCLO�NGBGO?CLRJD\p�}?�O?@LCKeFLEJRG@OL@J�@?|CLp� EmRIOJ� TK?oeF�J�e�CJH� RUo?F� EL� K?FmB+\�*RG@OJ�N?WLRJ�T�E?��D?ECm�FEmOLEJ�*�OjBL�4ELHL�CLC?F?�CLTCLWGC?D?EGCCJ@p�m�D?ECU�NBJDRLRJ�K?�@GCG'

<�2GBG@J}JCm�Q?R?FCJ@�mCmMm\E?B?@�o?�F�oeF�N?B'�XeBRLOLpCL�/G@OmF}JCm�*�HLS�NB?�EG�DOL|G� mDE?Bm\'�6?RJ�@?\�D?EC\FJO?CeFLRL� o?fFm� LOMm�p� @GCm� S�RJ� TLF|KJ� CL� K?N?@?QeOjB� _mKJO� m� H?B'�=JB?C�*� CL� @?f� NB?HLCC\� Lo?� T� FRLDC?�?H?EJ'�6?RJ�|JF�}G�DR'�N'�NmKN?RO'�6?CJOp�@J�FDm�CLKm��N?ORLKLRJCL�EGp�}?�FmC�O?@LCKeFLEJ@G�CL@J'�:L�|LRIp�M\�WeK?FL�RUKJCLpTCL@GCJEJS�O?@LCKJB�*�FmKmS�?F�FmK�CLD�CLTLF|KJ'

>T�D?EGCCJ@�4ELH?@�@J�TCJ}JRJ�KGOmRIOL��LBCmT?CmF�m�K?OmCM\�KmRJRJ�o?fFe�DRLFe�m�F?B?|e�N?Q?CU�?oLomW�6LBNLE'�<mCFGDGRJSp�o?S?FJS�EL�FmKFL|CJS'�4N?KmFLUDIp�}?�S�EGNGB�N?F?UfEeE� K?oBGp� H?W� o?UDIp� }?� FmC� @LR?� ?oGBG|CJSp� @LR?O?CDNmBLEJFCJS'

2?B'� 6LB@GRUO� FmKmS�?F� FmK� CLDp� FJO?CeUWJ� ~eCOMm�NB?FmKCJOL�BLS?Ce'�_R\�CI?Q?�MG�FGRJOL�NBJOBmDEI'�1DI�}?�FmCNJ�G�K?�@GCG�F�TLNJDMmg

W��'�����������/B� 0 &�% ���/ �� � ,�& #����&/��������������������,�����2�&&�'�+0�����/,����&�% �������3 �������+��%/B�,����������.)����&�����. ��',��G��%1�& �/ �� &�)�����/ � ������ 0��,��%� J�������������'�/ ,� &��� &���� �� ���� �� ���� 0 � ���� ��,�� ������!�'��� ��&����Wa��%���������/����B�%,c+��X����'�!��������CE�,��������������0�0��/�����1������ ���/,� ��(�&�+ ������ �����+� ��1��� �� ����/ B� ��&���(�&������'�&���X�

<�NGBGCGDGCCm�N?B'�6LB@GRUOL�CL�EGBGC?Fe�B?o?Ee�\�CG

Z��

Bm�LF'��LRO?�@GCm�K?oB?Q?�KBeQL'�`�S?Q?�MmRO?FJE?�B?Te@mUp}?�KR\�O?@LCKJBL�NB?}LEJD\�T�FmSDIO?@�*�MG�FGRJOJS�eKLB'

2?B'� 6LB@GRUO� NBJ� 6?@LCKm� <mKEJCOe� @LF� ~eCOMmUFmSDIO?F?Q?�mCDEBeOE?BL�EL�oeF�OGBmFCJO?@�@mCGBDIO?��RLCOJ'<mC�*� CLSDELB�JS� D?EGCCJS� 528jPLHmK'��G� F� 5:4� m� oeFD?EGCCJ@'� /UKJCL� CLKTFJWLSC?� TQmKRJFLp� NBLMI?FJELp� B?TjDeKRJFL�m�ELOE?FCL'�<mC�RUoJEI�FmSDIO?p�TCL@GCJEJS�NLBEJTLC'V?Q?�KBe|JCL�m�EB?f�KmEGS�CL�4JomBm'�<mC�Ee|JEI�N?DEmSC?�TLCJ@J'�_?�DEBmRIMmF�DELFJEID\�\O�oLEIO?'�6?RJ�CL�/G@OmF}JCmNBJS�RL�|?BDE?OL� FGDCL� qkZn� B'p� KG� FmC� TJ@eFLF� mT� DF?fU?H?B?C?Up�*�oeCW'�0JQBp�DE'�FmDE'��eOp�FmDE'�7eKJSp�FmDE'�6eRJOEL� FmDE'� 4mBJS� m� @L�JCmDEOL� FmDE'� 6DGC\p� *� TCL@GCJE?TLQ?DN?KLBUFLFD\'�>KeWJ�CL�4HmKp�FmC�ToJBLf�K?FO?RL�DGoG�EJHp\OJ@J� CmHE?� F� E?S� WLD� CG� ?NmOefEID\�*� NGBGKeDm@� DL@JHN?FDELCMmFjmCFLRmKmF'� P� CJ@� SKeEI� WGBGT� O?BK?Cg� BLCGCJSDE'� FmDE'� P?Fp� BLCGCJSp� DRmNJS� DE'� FmDE'� /JDEp� HF?Bm� FmDE'6eTI@GCO?�m�FmDE'�6BeOp�HF?BJS�DELBJO�=eHLp�HF?BJS�CL�C?QeFJH?FCJO�1RGQ'� PLoJBLf� EG|� KmFWLEjNmKNmRICJMIg�=LBmSOep=LBeDUp� bLCCeDU� m� _e@e'� P� EJ@J� RUKI@J� 6LB@GRUONGBGH?KJEI�F?B?|m��O?BK?CCm�TLDELFJp�}LDRJF?�K?NB?FLK|ef��HCL�@mDMG'�<DG�EG�HLBLOEGBJTef�S?Q?�HLBLOEGB'�`�N?TCLS?@JFD\T�CJ@�F�2GBG@J}JCmp�OeKJ�FmC�BGSKeFLF�mT�D?ECGUp�\�oeF�E?KmO?@LCKLCE?@�W?EJ�o?fFJOmF'�2GB�m�o?�� T� F?B?Q?@�@J�N?WLRJw'�q�'�Z[�B'�NBJ�CJ}GCCm�@?DEmF�F�PLQmB+U'

4ELBLEJ@eD\� BLCCI?U� FGDC?U� oeEJ� T� CJ@� EL� B?TBLKJEJK?oB?Q?�KBeQL'

XBLOef�EeE�TLNJDOJ�FmK�D?EGCC?Q?�bBeTJCLp�m�E?Km�F|G�oeFoJ�O?@NRGOE�TLNJD?O�FmK�FDmH�@?�H�D?EGCCJH'�V?Q?�\�?D?oJDE?}G�CG�TCLU'�<mC�O?@LCKef�D?ECGU�m@'�X'�A@GRICJMIO?Q?'

���

<FGDI� WLD� \� Ke@OL@J�omR\� EJH� D?EGCIp� \Om� N?FmBJR?�@GCmb?R?FCG�6?@LCKeFLCC\� 528'��mRJ@� DGBMG@� H?EmF� oJ� \p�}?oF?CJ�oeRJ�TLoGTNGWGCm�CL�TJ@ep�}?o�}LDRJF?� ���NGBGoeRJ�ELKm|KLRJD\�FGDCJ'�0eBoef�@GCG�m�EGp�WJ�TLDE?D?FeUEI�F?CJ�DEB?QmO?CDNmBLEJFCm�TLH?KJp�o?�F?B?Q�EGNGB�TFGBCeF�FGRJOe�eFLQe�CLFmKKmRJ�528'��?o�FmKFmKLEJ�Mm�D?ECmp�KLEJ��@�mCDEBeOMm�p�N?BLKJEJ*�CL�EG�oeR?�F�@GCG�@LR?�WLDe'�4?ECm�K?F?Rm�KLRGO?�B?TOJCGCmpL� K?� TJ@J� oeF� FDI?Q?� ?KJC� @mD\MI� WLDep� o?� \� @eDmF� mEJ� CL

Z�q

FmKNBLFe'�:LSomRI��EeBoeUD\�TL�FmKKmRJp�}?�NBJS�RJ�TjTL��RmCm�6GBT?CL�p� \Om� @LR?� ?TCLS?@RGCm� T� ELOEJO?U� o?RI�GFJOmFp� TL�GCEeB?U�T?FCm�C?U� EL� FCeEBm�C?U'�4EBmRIMm�@LR?� TCLCm� FEGBGCm'� 5� FJNLKOe� CLDO?Oe� F?B?QL� CL� �H� TJ@?Fm� oeCOGBJ�*oeKeEI�@GBTCeEJ�N?�RmDLHp�o?�TF+\TOe�CmKG�CG�KmDELCeEI'�<�DGRm�H�K?DRmFC?�CmHE?�CG�NBJS@G'�=mDMGFm�FDG�|�DO?Bm�G�@?|eEIKLEJ�D?om�BLKe'

YVRZ " S#�R�" U_V�#$^%"�

<� MI?@e� EGBGCm� @LRJ� NBLMUFLEJ� EG|� KmFWLELjN?FDELCMmpN?KBeQJ�FmDE'�0GE\CJg�=LBmSOL�*�BG~GBGCEOL�5dA�F�qq�BLS?Cmm�=LBEL�*�O?RJ�C\�@L�JCmDEOL�NBJ�CLKBLS?Cm�CL�/G@OmF}JCm'<?CJ� ?KCLO� KmDELRJ� FL|RJFm� K?BeWGCC\� FmKmSEJ� F� �A?R?KCJS`B�'� XLQLE?� NGBG|JRJ� Mm� KmFWLEL'� <?CJ� NmDR\� ?KJDG�� CL/G@OmF}JCm� CG� SKeEI� F� L@GBJOLCDIOe� ?OeNLMmSCe� T?Ce:m@GWWJCJp�EmRIOJ�BLT?@�F�FmDE'�0GE\C?U�NGBGH?K\EI�eOBL�CDIO?jN?RIDIOJS� O?BK?Cp� }?o� F� RLFLH� eOBL�CDIO?Q?� FJTF?RIC?jBGF?RUMmSC?Q?� BeHe� KLRm� oBLEJ� eWLDEI� F� o?B?EIom'� 0eE� 4XN?DELFJR?DI�K?�CJH�T�BGTGBF?U'�2?WLRJDI�K?NJEJ�EL�DRmKDEF?p�m�H�@LRJ�eDL@?DEmSCJEJ'��G�oeR?�o�KR\�CJH�FGRJO?U�OBJFK?U'0Gp�}?�F?CJ�NGBG|JRJ�CL�/G@OmF}JCmp�\Oe�B?oJRJ�B?o?Ee�EL\O�FTmBMGF?�N?F?KJRJD\�*�FDG�EG�@?|G�DEFGBKJEJ�EmRIOJ�E?SpHE?�oeF�CL�/G@OmF}JCm'�`�DELCeF�CL��H�?o?B?Cep�m�E?@e�DNBLFLNBJSC\RL� mC�JS�FJQR\K'

1DI�TLNJDOL�FmK�EJH�KmFWLEp�}?�FmKH?KJRJgW���&�-���.��C���'�!��������CA ����� ��1�1��d��� ,��� ��� �� &�����+ �� ��K

��&����+� A�������,� �������� � 0 d�����/B� ��'��&�,���1� �� ���%���� � 0� ������� � 0 ����� ��� ���1����%����&���� B���������0�,�����& ��������/���.0�0������ &�� (� � ����)��� 0K0� ����. !��0����2� 0���1��� � ����� �����&����0�,����� �������B����� ��&'�������'�,��+(����������0����0 ���+/���,���1�/B�&��)��'�&��0����� �/���+����������,���,/,��� ������ �����%��../�� ���&'��%��&��+�������

J�'�+ & ����/ & ���� ��%���B���CL���%��

Z�.

$�������30�������0����&���L������ ��%/"��b�UN��X0?@ep�}?�F�CL�?@e�|JEEm�ELO�NBJSC\E?p�}?�FDm�NmKN?B\Kj

O?FLCm� F� KLC?@e� ?DGBGKOe� KLUEI� N?�Eep� }?� NBJH?KJEI� mFmKH?KJEIp� K?� NGBGWJELCC\� DF?f@e� TFGBHCJO?Fmp� FmDE'� 0GE\CLpN?oLWJF�Jp�}?� \� WJELU� N?�Eep� N?DELFJRL� NGBGK� @C?U� DF?�TLNJDOJp� \Om� KmDELRL'� 0?@ep�}?� \� FmBJF� �Sp� CG� H?EmF� WJELEJp� mRJ�G�CL����NB?DIoe�\�NB?WJELF�RJDEJ�K?�CG�'��m�TLNJDOJ�MmOLFmDF?�@�T@mDE?@p�E?@e�N?KLU��H�T@mDE'

W����������% ���(��C��1� �,� ��) ������ ��&/ ,� �� 0��+/ (� &0�����

������� ��L�&��)�����/��0��+(������B��� 0� ������������1��)�����������/&��������� ���,������(�&����������/0��31/��& ����)�0'��� �/������������0�������X

�G�RJDE�FmK�Mmf��|�=LBmSOJp�E?��DL@?��KLEJ'<mDE'�0GE\CL�?EBJ@LRL�}G�?KJC�RJDE�FmK�TQLKLCJH�=LBmSOJ

m�=LBEJ� T� KLE?U� .n'� q�'� Zn� B'p� F� \O?@e� F?CJ�@'� mC'� NJ�eEIgW���E���&��,��� �,�����&���&����� ������ /������1��������� & � 0 ��(����� �'� & TK� 0� ����� �� �� � 0 ���&���%1�� & ����1�����������)����� ��������)������&�����/ ��%'� �� ��� � 2� ������ ����'���L���/ ,� & ��)�������&�)0���,����� ���+/����� ����&�����&�G�������������0���1��� ��S�&�� ��0�%1������������0�������L����%1�� ����1�/���� ������.&��1�% ���&���'�������&������ �� ���� ����� ���&� ��1��� �� ���)���������/0&���� ��0�� ���%1��/ ����� ���� � ���� �� 0�)��� J�(�1/ ������ ��&� ��% � ��� ���� ����� 0����� ��'�� �������� �/���������X

���

:L�m� KmFWLEL� oeRJ� CG� EmRIOJ� F� B\KLH� BGF?RUMmSC?Q?NmKNmRR\p� LRG� ELO?|� F� B\KLH� 528p� KG� FJO?CeFLRJ� ~eCOMm�B?TFmKWJOmFp� DLCmELBmFp�~LB@LMGFEmFp� RmOLBmF'� 0eE� F� 5OBL�Cm� \TLNBJ@mEJF� F� CJTLH� KJFCG� N?C\EE\� NB?� KmFWLEg� oeKIEG� F?CJNm�RJ�F�NmKNmRR\�EmRIOJ�KR\�B?@LCDmF'

=GCmp�\O�F?\O?Fm�m�O?@LCKJB?Fmp�NBJH?KJEID\�DOLTLEJ�EFGBKGDR?F?g� �:GNBLFKL'� <?CJ� TLNJDLRJ� DGoG� D?EC\@J� QGB?SDIOJHWJCmFp� H?B?oBmDEU� CL� N?Rm� o?U� m� FmKFLQ?U'� :GFE?@C?Up

Z��

@eBLFRJC?U� NBLMGU� omR\� NJDLRICJH� @L�JC� F� OBJ�FOLHp� CGoLWeWJ�CGBLT�B?OL@J�MJFmRIC?Q?�CLDGRGCC\�'

0eE� DOL|e� KGOmRIOL� DRmF� NB?� KmFWLE�/G@OmF}JCJ� m�2GBGj@J}JCJ'�:m�?KCL�T�CJH�CG�oeRL�TBLKCJO?@'

�LB@LMGFEOL� K'� X?QKLCLjPGCL� NmK� WLD� CLDO?Oe� N?R\OmF� FOFmECm�Zn�B'�CL�oeCOGB�F�2GBG@J�Rmp�KG�oeRJ�BLCGCm�DEBmRIMm528p�B?TmBFLRLD\��BLCLE?U'

_'�4EGN?FL�FGDC?U�qkZn�B'�TLQJCeRL�F�o?U�T�N?R\OL@J�CL6BJCJWWJCm'� <?CL� FJO?CeFLRL� ~eCOMmU� CLKBLS?C?F?Q?BG~GBGCEL�NB?NL�LCKJ'�2?H?KJRL�T�2?RELF}JCJ'

1DmCCU�qkZY�B'�BLCGCLp�o?�oeRL�oGT�ToB?�p�N?NLRL�F?B?Q?FmF� BeOJ� K'� 0L@LBL�*� Oe}?FJS� Q?DN?KLBCJO� F� ���� BLS?Cm� CL/G@OmF}JCm'�A?W�E?BEeB?FLCL�F?B?Q?@p�CG�TBLKJRL�ELf@CJMI'0LO�DL@?�TR?FRGCL�oGT�ToB?��K'�/mD?FL�CG�TBLKJRL�ELf@CJMI�m�FEUB@m�EBJ@LRLD\�NBJORLKC?'

:L�TLDmKMm�<2��<mSDIOL�2?RIDIO?Q?��N?NLRL�F�BeOJ�F?B?QLpEG|�oGT�ToB?�p�K'�/GD\'�<?CL�ELO?|�CmW?Q?�CG�TBLKJRL�F?B?Q?Fm'

<� NmKTG@GRR\H� �NJELRIOJ� CL� ABG}LEmS� F� DmWCm� Zn� B'N?DEBmR\RJD\�K'�_?BL��T�2GBG@J}JCJ�p�K'�2WmROL��T�D'�2BeDfOL�pK'�6LRJCL��T�D'�<?R\�b?B\CDIOL�'

4RLFC?� TQJCeRL� @L�JCmDEOL� NBJ�6?@LCKm� <mKEJCOe� �6<��/G@O?��*�K'�PGCL'�0LO?|�oGT�ToB?�'�9��NmK�WLD�?oRLFJ�F�EBLFCmZn�B'p�FJDCL|GCe�Q?R?K?@p�NmS@LR?�<2'�PLBLTp�ELOJ�F�RmDm�N?WLRJK?NJEp�OLEeFLRJ�NBJORLKL@J�m�O?R?RJ�oLQCGEL@J'�A?W�F?CL�TCLRLFDm�LBHmFJ�6<�m�EGp�}?�CL�KGBGFLH�DJK\EI�DEBmRIMmp�CG�TBLKJRL'�9�EL@� TL@eWJRJ'

2?KL@�ELO?|�KGOmRIOL�NBJORLKmF�T�NmKo?RI�GFJMIO?��KmSDC?DEm'0eE�DRLFC?�TQJCeRJg�K'�:LELROL�T�D'�b?BKJCmp�\Oe�|JFMG@p

oGT�ToB?�p�HF?Bep�NmS@LRJ�o?RI�GFJOJ�m�F?CL�F�EUB@m�N?FmDJRLDI'_'�=LBmSOL��T�D'�b?BKJCm��BLCGCL�K?DEBmRJRLDI'_'� ABJDE\� �T� d?BEOmF}JCJ�p� TLDO?WGCL� F� D'� 4EBL�GFJWm

o?RI�GFJOL@Jp�\OJH�NBJFmF�L�GCEp�DEBmR\f�?KC?Q?�o?RI�GFJOLT�NmDE?Rm�m�FEmOLfp�NBJ�W?@e����FoJE?'��G�oeR?�.Z'��'�ZY�B'

_'�2LRI@L�T�D'�7?D?HLEGp�\O?��CG�NBJSC\RJ�K?�NmKNmRR\p� m}?�oeRL�LBG�E?FLCL�TL�DNmFNBLMU�T�N?FDELCM\@Jp�NGBGDJK|efF�RmDm�DL@L�WGBGT�EBJ�B?OJ'�6?RJ�FRmEOe�Zn�B'�CLDO?WJRJ�CL�CG�o?RI�GFJOJp� F?CL� DEBmR\f� T� OBmDLp� OJKLf� �BLCLEJp� eoJFLfW?EJBI?H�o?RI�GFJOmFp�FmKELO�B?TBJFLf�DGoG��BLCLE?U'

_'�/UoL�T�D'�2R?DOG�OeRG@GE?@�FmKoJFLf�F?B?QLp�O?RJ�E?S

Z�Z

CLDO?WJF�CL�oeCOGBp�FmKELO�BLCGCLp�C?|G@�N?BmTLRL�D?om�|JRJCL�BeOLH�m�TQJCeRL'�<�E?@e�|�oeCOGBm�DEBmR\fEID\�PFGCJDRLFL�T�D'�5DEBmOJ�'

<� o?U� T� o?RI�GFJOL@J� F� RmDm� �XLKI?FL�� QJCG� K'� 6DGC\p@L�JCmDEOL�N?B'�6LB@GRUOL'�<?B?|L��BLCLEL�FmKmBFLRL��S�BeOe'<?CL�K?DEBmRJRLDI'

�q'�q�'�Zn�B'�TLDO?WGCL�o?RI�GFJOL@Jp�QJCG�K'�bLR\�*�RG@OJC\pKBe|JCL�DR'�N'�bBeo?Q?'�X?RI�GFJOJ�FmKBeoLRJ��S�Q?R?Fe�m�TLoBLRJT�D?o?U�K?�D'�0eH?RIOLp�KG�N?DELFJRJ�TL�FmOC?�CL�FJDELFe'

�JFMG@�F�BeOJ�F?B?QL�N?NLRLDI�N?FmE?FL�NB?FmKCJM\�5jJK'�=DEJDRLFL'�<?CL�FmK�N?o?�F�N?DJFmRLp�LRG�CmW?Q?�CG�TBLKJRL'

0LOJH�NBJORLKmF�@?|CL�N?KLEJ�D?EOJ'`O}?�TCLS�RJD\�L�GCEJjFCeEBGCCJOJ�DGBGK�KmFWLEp�E?�CG

oeR?��H�omRI�Gp�\O�@m|�HR?NM\@J'6?RJ� EeEp� F� 4jmp� oeRJ� ELOm� L�GCEJp� \O� _LBOLjaNJELRI� m

0'�4?N?ECJMIOLp�E?�FJCL�EeE�NGBGKeDm@�4Xp�}?�NeDEJRL��H�oGTCLQR\Kep�L�N?Em@p�O?RJ�F|G�TCLRJp�}?�F?CJ�L�GCEJp�CG�FDNmRLRmOFmKeFLEJ'�4I?Q?KCm�F?CJ��TK\EI�F�_B?Q?oJWm�T�o?RI�GFJMIOJ@JL�GCEL@J�m�?~mMGBL@J�=<_'

_mFWLEL� CL� PLOGBT?CCm� N?OLTLRJD\� CG� EmRIOJ� QGB?\@JpmKGSCJ@J�m�FDGMmR?�FmKKLCJ@J�DNBLFm�BGF?RUMm?CGBL@Jp�LRG�EG|TCL@GCJEJ@J�TF+\TOmFM\@J'�PBG�E?Up�MG�FJDFmERJEI�mDE?Bm\'�`KLU�EmRIOJ�DFmS�N?QR\Kp�\O�F?\OL�m�O?@LCKJBL�528'

_BeQ�4EGN?FLp�}?�oeRL�F�D?ECm�N?B'�A?@Jp�F�o?U�F�/m}LFmb?Bm�CmS�.Z'�q�'�ZZ�B'p�O?RJ�\�FL|O?�BLCGCJS�F�?oJKFm�BeOJpeDELp� RG|LF� CGNBJE?@CJS� CL� N?Rm� o?Up� T� NmDE?RGU� F� BeOLHTLFGBELf�DEBmRIMmF�m�NmK�TLQB?T?Up�}?�oeKG��H�DEBmR\EJp�FJC?DJEI@GCG�T�N?R\�o?Up�CG�TFL|LUWJ�CL�DJRICJS�OeRG@GECJS�F?Q?CI'

6?RJ�@GCG�TLCGDRJ�K?�D'�/'p�KBeQ?Q?�KC\�oLQLE?�o?RI�GFJOmFNGBG�eOef�DGR?�TL�BLCGCJ@J'�dGEFGBE?Q?�KC\�NGBG�eOef�DGR?N?RIDIOG�FmSDIO?'�0?Km�NBJS�RJ�B\EeFLEJ�@GCG�CLNmFNBJE?@C?Q?EmRIOJ� N?FDELCMmjKmFWLELg� K'� 4?~m\� EL�}G� EBJ� KmFWJCJ� T� E?Q?DGRL'�<?CJ�@LDOeUEI�m�H?FLUEI�@GCG'

6?RJ�KjB�=LBELp�RmOLB�T�D?ECm�OjBL�d?BC?Q?p�OLTLRL�FmKE\EJ@GCm�BeOJp�FFL|LUWJp�}?�F?CJ�CG�KLKeEID\�FJRmOeFLEJp�F�@?�S?o?B?Cm�DELCeRJ�N?FDELCGMIj~LB@LMGFEOL�K'�X?QKLCL�m�DEB'�=eHLp}?�N?QB?|eFLF�L|�ToB?fU'�X?QKLCL�@LS|G�WGBGT�BmO�Q?�RL�@?�BeOJ� m� FJRmOeFLRL� �H'� PLFK\OJ� �S� EL� ��� N?NGBGKCJM\@� \� @mQF?UFLEJ�}G�Z�B?OJp�m�MI?Q?�\�CG�@?|e�CmO?RJ�TLoeEJ'

Z�[

�"L�RV�"L��$� l!��] lY �

:LSDELB�JS�FmO?@�F�CL�?@e�oeCOGBm�oeF�DE'�FmDE'�XLSKLO'V?Q?�|JEE\p� \O� m� oLQLEI?H� mC�JH�CL�JH� DGR\CDIOJH�HR?NMmFpNB?S�R?�CGFGDGR?'�<|G�F�KJEJCDEFm� FmC� TLRJ�Lf�oLEIOmFDIOeHLEe� EL� SKG� F� CLS@J'�4Re|JEI� TL� WLoLCL� e� Q?DN?KLBmF� DF?Q?BmKC?Q?� DGRL'� <|G� E?Km� MmOLFJEID\� ToB?fU� EL� FJoeH?FJ@J@LEGBm\RL@J'� 7LTp� CL� <GRJO?KCm� DF\ELp� DEBmR\F� T� @LRGCIO?Q?@?TKmBL'� 2?DELRL� GODNRI?Tm\� m� FmKmBFLRL� S?@e� e� RmF?�� BeOJFGRJOJS�NLRGMI'�6?RJ�FmC�NmKBmDp�Nm�?F�F�CLS@J�K?�N?RIDIO?Q?ODI?CKTL� F� 4ELB?@e� 4L@o?Bm'� 0eE� oLWJEI� B?TOm�CG�|JEE\N?RIDIOJH�NLCmF�EL�N?BmFCUf�S?Q?�mT�|JEE\@�omKCJH�eOBL�CDIOJHDGR\C'

<�qk�Y�B'�N?OJKLf�BmKCm�TG@Rm�m�FJ�TKJEI�CL�B?o?Ee�TL�O?BK?C'A?W� FL|OL� oeRL� NBLM\� CL� We|JCmp� LRG� RUK\CG� DELFRGCC\Q?DN?KLB\jRLEJ�L� DEF?BUFLR?� S?@e� DNBJ\ERJFm� e@?FJ'2?WeF�Jp�}?�S?Q?�Q?DN?KLBp�FRLDCJO�.���QL�TG@Rmp�K?oBJ@�DR?F?@TQLKef�o?RI�GFJMIOe�7?DmUp�XLSKLOp�H?W�DL@�@LR?�?DFmWGCJSpDELBLfEID\�K?OLTLEJ�S?@ep�}?�DI?Q?KCm�C\�7?Dm\�*�MG�NB?OR\ELEUB@L�CLB?KmF'

6?RJ� ?DmCCU� qk�k� B'� D?FfEDIOL� LB@m\� eFmS�RL� FNBJoLREmSDIOm� KGB|LFJp� XLSKLO� NB?}Lf� DF?Q?� Q?DN?KLB\� mN?FGBELfEID\�F�BmKCm�DE?B?CJ'�<CGK?FTm�?OeNLCE�T@mCUfEID\pNBJH?K\EI�Cm@Mm'�4F\}GCJOp�F�\O?Q?�DRe|JF�XLSKLOp�FGRJOJSNLEBm?Ep� NB?FLKJEI� OeRIEeBC?j?DFmECU� NBLMU� F� DGRmp� oeKefKm@� dJELRICm� 510� �5OBL�CDIOG� 1DFmECf� 0?FLBJDEF?�p� Ke|GWLDE?�NB?F?KJEI�T�XLSKLO?@�KJDOeDm��CL�BmTCm�EG@J�m�ToLQLWefS?Q?�TCLCC\�EL�CLMm?CLRICe�DFmK?@mDEI'�6?RJ�N?WLF�EBm}LEJ~B?CEp�DF\}GCJO�TLoJBLf�T�D?o?U�XLSKLOL�m�CL�NmKF?Km��KeEICL� TLHmK'� 2GBG�|K|LUWJ� BmOe� 4\C� CL� /G@OmF}JCmp� XLSKLONB?}LfEID\�T�DF?�@�?NmOeC?@p�H?W�MGS�?omM\f�S?@e�?NmOe�CLG@m�BLMm�p�m�SKG�CL��XeO?FG�XGKB?�p�KG�NGBGH?KJEI�FmSDIO?FJSFJ�OmR�528'��B?CE�F|G�oRJTIO?'�XLSKLOL�FmKNeDOLUEI�K?K?@eH?FLEJD\'

<�B?KJCCJH�RmDLH�@J�oLWJ@?�S?Q?�F�B\KLH�@mDMGF?Q?�Oe}LNmK� O?@LCKeFLCC\@� DRLFC?Q?� NLBEJTLCL� 0LBLDOL'� �a@mBLOJ�p\O�FmC�CLTJFLF�o?RI�GFJOmFp�Nm�RJ�CL�XGBRmC'�0?Km�FmC�FDEeNJFK?�D?ECm�OjBL�X?BL'�>�ELO�Nm�RJ�F�B\KLH�528�B?OJ�F�o?B?EIom�TL5OBL�CDIOe�4?o?BCe�_GB|LFe'

Z�Y

4I?Q?KCm� FmC� NBJ� ?H?B?Cm� H?B'�=JB?CL'� <GW?BL@J� WLDE?TQLKef� DF?�� @JCeRm� B?OJ� F� CLS@LH'� PLNL@+\ELF� D?om� CGoLQLE?DRmF�T�RLEJDIO?��@?FJp� m�E?@ep�}?�WLDE?�F|JFLF�DR?FL��\FOeDRLom�p�WJ��OeD�RLom�p�DEBmRIMm�NBJWGNJRJ�S?@e�ELOG�m@+\'

4E'�FmDE'�XLSKLO�N?FL|CJS'�:G�RUoJEI�F|JFLEJ�N?QLCJHDRmFp�NBLFK?@?FCJSp� m�CG�KJFC?p�}?�HFJRUFLRJ�S?Q?�~LCELTm�FmDE'� <JH?BL'� <mC� oeF� @?BLRICJSp� mKGSCJS� EL� OLBCJS� F?\O':LNGBGK?KCm� DF?�H� m@+\CJC� Nm�?F� K?� DF?Q?� BmKC?Q?� DGRL� N?@mC?@GECm�DEBmRICLp�\OJ@J�@Lf@?�@mCeFLEJ�oeCOGB'�:L�K?B?QeKmDELF�FmK�DF?f��DGDEBJ�NR\�Oe�Q?BmROJ'�0L�DEBmRIMm�F|G�KGCINGBGK� NBLTCJO?@� DF'� =JHL�RL� TB?oJRJ� S?@e� m@+\CJCJ� m�FJEBeoJRJ�� Q?BmROe'� PLBLT?@� DE'� FmDE'� XLSKLO�NBJCmD� N?�Eep}?�F|G�K?FQ?�oReOLRL�N?�EGBGCm'

7LCO?@�e�DL@�NBLTCJO�FmC�}G�DNLFp�\O�DEBmRIMm�TLTKLRGQmKINBJQ?E?FLCJ@�D?R?@+\CJ@�NGBGFGDR?@�TF+\TLRJ�S?@e�BeOJ�m�C?QJ'6?RJ�N?WLRJ�S?@e�DNmFLEJg��=C?QL\�RmEL�p�FmC�NB?oeKJFD\p�LRGDELEJ�CL�BmFCm�C?QJ�F|G�CG�@mQ'�4?B?@RJF?�EmRIOJ�?NeDEJF�Q?R?Fe'*� �:ep�=JHLSRGp� EGNGB� FJOeNJEJD\� EBGoL�p�*� K?@LQLRJD\DEBmRIMmp�EL�omKCJS�=JHLSR?�FEBLEJF�DFmS�FJOeN�}G�FW?BL'

4L@G� E?@ep� }?� @J� FDm� �LCeFLRJ� DE'� FmDE'� XLSKLOLp� \NBJDF\EJF�S?@e�CL�m@+\CJCJ�CGFGRJOJS�FmB�'

=JHLSR?�oeF�EJ@�}LDRJFJSp�m�DEBmRIMm�oeRJ�EG|�FK?F?RGCm'V?Q?�DO?B?�B?TF+\TLRJp�S�CmHE?�CG�K?@?QLFD\�FJOeNe'

6?BJDEeUWJ�T�FmRIC?Q?�KC\p�DEBmRIMm�N?WLRJ�CL@?FR\EJDE'� FmDE'� XLSKLOLp�}?o� ?N?FmKLF� DF?�� NBJQ?KJ� T� KmFWLEL@J'�G�oeR?�D@m�C?p�o?�DELFRGCC\�XLSKLOL�K?�KmFWLE�oeR?�ELOG|p� \O� |JKL� K?� O?FoLDJ'� <NBLFKm� FmC� RUoJF� oeEJ� F� �HE?FLBJDEFmp� LRG� o?B?CJ� X?|Gp� }?o� @LEJ� T� CJ@J� \OmDIRUo?FCm�B?T@?FJ'�<Dm�oeCEeUEI�S?Q?�DI?Q?KCm�m�CL@?FR\UEImEJ� T� K?@LQLCC\@� K?� O?@LCKJBLp� }?o� K?TF?RJF� S?@e|GCJEJD\'�*� �XmSD\� X?QLp� =JHLSRGp� EL� EJ� F|G� @Lf�� �[B?OmF�m�E?om�CL�DELBmDEI�CG�oeKG�O?@e�N?KLEJ�F?KJ�p�*�OL|GW?E?FJS�2LD'�8RG�EeE�TLBLT�NGBGoJF�DE'�FmDE'�7JoLROLg��0L�TWJ@�|G�EJ�N?OL|G�D\�CL�F?RU��1E�ELOJS�CG|?CLEJSp�oGTKmEGS��� :L�� Q?R?FCJS� �OLNGRI@LSDEGB�� FmDE'� <JH?BpoLRL@OLUWJ� C?QL@J� CL� �oLCELH�� m� LO?@NLCmUUWJ� CLDOBJNMm p � N?WJCLf� NmKE\QLEJ� eRUoRGCe� NmDCUDE'�FmDE'�XLSKLOLg

Z�n

WA%����������+�������%1��/����&�%��(������0,���(���� ���A%����0����&,�/ZM��0�[���������%1��X

F�L�FDm�BLT?@�H?B?@gWA%J�%��(�/�������(�/,���%��,���(�CX�*m� B?TD@m\RJD\'4E'� FmDE'� XLSKLO� WLDE?� RUoJFp� O?RJ� DReHLRJ� DELB�JCJp

?N?FmKLEJ�}?DIp� FNRmELUWJ� We|m� DR?FL'��G� WLDE?� FJH?KJR?� FCI?Q?�K?F?Rm�O?@mWC?p�o?�FmC�FDELFR\F�ELOm�DR?FL�F�CGFmKN?FmKCJH@mDM\H'

1DI�TLBLT�NBJS�?F�DEmSO?FJS�mT�T@mCJ�EL�OL|Gg��4I?Q?KCmoeF�QLBCJS�KGCI�'�XLSKLO�CL�EGg��0LOp�ELOp�KGCI�DI?Q?KCm�oeFCL�FCJSp�L�FGWmB�oeKG�NDJHmWC?�QLBCJS�'�<Dm�B?TD@m\RJD\'

*� 0L� W?Q?�|� <J� D@mfEGDIp�*� OL|G� XLSKLOp�*� \� OL|eN?FL|C?'

*� 0LOp� ELOp�*� DOLTLRJ� DEBmRIMmp�*� @J� EG|� N?FL|C?D@mf@?D\'

_J|eBCJS�N?KLf�QBJo?Fe�TeNe�DEmSO?F?@ep�}?�NBJS�?F'_?�CI?Q?�NLBLKC?�NmKH?KJEI�DE'�FmDE'�XLSKLO�m�NJELfg

*�:ep�K?oBL�TeNL�*�_?oBLp�*�FmKN?FmKLf�DEmSO?FJS'*�8�WJ�TCLf�p�W?@e�K?oBL�*�:mp�CG�TCLUp�@LoeEI�E?@ep�}?�\�Q?R?KCJS'*�`�E?om�DOL|ep�W?@e�K?oBLg�E?@ep�}?�NLHCG�FmEL@mCL@J'_?�MI?Q?�F@m�LRLDI�FmDE'�0GE\CLg��PeNL�CG�@?|G�NLHCeEJ

FmEL@mCL@Jp�EmRIOJ'''�N?NBLFEGp�K'�XLSKLOp�FJ�N?@JRJRJD\�'XLSKLO�N?NBLFJFg��<?CL�NLHCG�~m?RGE?F?�'<Dm� TC?Fe�B?TD@m\RJD\'�0L�F?CL�NGBWGCL�p�*�OL|G�DE'�FmDE'�<JH?B'XLSKLOg��:ep�E?�FRLDCG�K?oBGp�o?�NGBGMI�@Lf�~m?RGE?FJS

TLNLH�'�G�FDG�NGBGoJF�H?B'�=JB?C�m�K?�TLQLRIC?Q?�D@mHe�K?KLFg

�0LOp�NGBGMI�DJCGCIOJ@�MFmEGp�L�~m?RGE?F?�NLHCG�'<mEL@mCJ�KLRJ�K?WLE?O�KR\�KLRI�?��KJDOeDm�'<JCLHmKRJFm�DEBmRIMm�F|G�TCLS�RJ�FmEL@mC��6��*�OLNeDELp

FmEL@mC��P��*�TeNL�S�mC'XLSKLOp� N?oLWJF�Jp� }?� T� CI?Q?� CLD@mHLUEID\p� N?WLF

Z�w

B\EeFLEJ�DJEeLMmU'�aJB�G�B?TF?KJEID\�CLK�FmEL@mCL@J�EL�CLK?OLTp�}?�FmC�?BmfCEefEID\�F�EJH�DNBLFLHp�OL|Gg��AE?�HF?BJSCL�RGQGCmp�E?S�@eDJEI��DEJ�oLQLE?�FmEL@mCmF�'

*�0LjKG�MG�NBLFKLp�*�NGBGoJFLUEI�DEBmRIMm'*�0LOp�ELOp�MG�NBLFKLp�WLD?@�EBGoL�m�FCUHeFLEJ�FmEL@mCJ'

`�DRe|JF�F�?KC?Q?�Q?DN?KLB\p�\O?Q?�DJC�oeF�HF?BJS�CL�RGQGCmpE?�RmOLBm�NBJNJDLRJ�S?@e�CUHLEJ�OmCDIOJS�RLSC\O'

<mDE'� XeSCJSp� D@mUWJDIp� NGBGoJFLfp�}?� MG� CG@?|RJF?g�AF?BJS�CL�RGQGCm�N?FJCGC�@LEJ�T@mCe�N?FmEB\�'

*�8�}?� \� OL|ep� FRLDCG�MGS� HF?BJS�Nm�?F� T� HLEJp� DNLFomR\�O?CGSp�*�DOLTLF�NGBGO?CRJF?�XLSKLO'

�?o�NB?K?F|JEJ�FGDGRe�B?T@?Fep�FmDE'�0GE\CL�N?DELFJRLNJELCC\p�\OL�T�\BJC�@Lf�CLSomRI�G�FmEL@mC'�4EBmRIMm�@?FWLRJpKe@LRJp�L�XLSKLOp�N?NBLFJF�J��ELCJp�TLFJCeF�BeOLF�K?Q?BJpN?NBLFJF��LNOe�CL�Q?R?Fm�*�MG�oeRL�S?Q?�TFJWOL�*�m�NGB�JSFmKmTFLFD\g

*�bBJoJ'*�0L�KG�EL@�QBJoJ'�<?CJ�NGBGKeDm@�CG�\BJCLp�*�DOLTLRJ

DEBmRIMm'*�0LO�fp�QBJoJ�\BJCLp�o?�B?DEeEI�CL�\Bm'

���

4I?Q?KCm� FmDE'� 0GE\CL� FoBLRLD\� F� NGBG�JEe� �BLCLE?FeoRUT?WOe'�6?|CL� T@mCL� �KGO?BLMm��p� F� O?Q?� E?�CG�oeR?�op� CGNB?S�RL�eFLQJ�DEBmRIMmF'�<?CJ�DI?Q?KCmp�B?T?H?WGCm�|LBEL@JpN?WLRJ�NBJQR\KLEJD\p�\O�N?�JEL�oRUT?WOL'

<JH?Bg��PRG�F�JEL�'XeSCJSg� �d?@e��*� 0L� o?� oe~OmF� CG� @Lfp� FJQR\KLfp� \O� @mHeCIOL�*� N?j

o?SOmFDIOJ� �@m�?W?O�'<mDE'�4mBJSg��0L�KG�F?C?�ELO�FJQR\KLfp�EeE�~eQmF�oBLOef�'XLSKLOp�}?o�DELEJ�F�?o?B?Cm�oRUT?WOJg��0L�SKmEIp�mKmEIp�FJ

FDm�CG�B?Te@mfEGp�F|JFLfEG�DL@m�B?@LCEJWCm�DR?FL�'

���

_J|eBCJS� KLF� TCLO� BeO?Up�}?� EBGoL� N?WJCLEJ� TLC\EE\'�LBEJ�FEJHRJp�m�F?\OJ�DmRJ�CLK�T�JEOL@J'

<|G� FGW?BmR?'� PmS�?F� DEmSO?FJSp� TQ?R?DJFp� }?� RmD?@

Z�k

NB?H?KJRJ� KmFWLEL� EL� FGDI� WLD� DNmFLRJ� m� FmFOLRJ'� PCLWJEIp� FEGBGCm� DN?OmSC?'�1KCm� FJDO?WJRJ� N?DReHLEJ� KmF?WJH� Q?R?DmF'7JoLROLjRG@O?�m�2LDjo?SO?�DmRJ�K?�T@LQLCI�F��LHJp�KJ|eBCJSN?WLF�NBJQ?E?FR\EJD\�K?�B?o?EJ�omR\�OeHCm'�_FL�TLFT\Em��LHmDEJB?TmQBLRJ�NGB�e�NLBEmU�F�CmWJU'��?o�KBeQL�NLBEm\�oeRL�omRI�TLFT\E?Up�W?E?FJS�2LD�OL|Gg

*�bBLf@?�TL�EGg�HE?�FJQBLfp�E?S�FmKFL|Cm�JS'�?o� TLDN?O?�EJ� L@omMm�� m� TLNLR� KF?H� KBeTmFp� F@m�LRLD\

FmDE'�0GE\CLg*�6BL}G� TL� MG� CG� QBLSEGp� o?� FJ� N?FJCCm� ?oL� FJQBLEJ'

PLRJ�mEI� DF?U� QBe� EL� H?KmEI� K?� @GCG'� `� FL@� N?F?B?|ep� o?DI?Q?KCm�K?oBJS�KGCI'

:L� MU� FmDEOe� CG� RJ�G� F?CJp� LRG� FDm� OJCeRJDI� EeKJp?oDEeNJRJ����OBeQ?@p�m�CL�L��F?B?|OL��N?WLRL�F?B?|JEJ'�1KCmNBJS@LRJ�F?B?|oe�TFJWLSC?p� KBeQm�CGU�NGBGS@LRJD\'�1KCLOO?|CJS�CGEGBNGRJF?�WGOLF�DF?f��WGBQJ'�<�oeCOGBm�DELR?�EJH?pEmRIOJ�TRGQGCIOL�TFeWLF�@GR?KmSCJS�Q?R?D�F?B?|OJ'

4E'�FmDE'�7JoLROe�MmOLFJRL�K?R\�BmKCmp�\Oe�CGFmK?@?�OeKJFJFGTRJ�T�/G@OmF}JCJ'�<mDE'�<JH?BL�CGN?O?�RL�K?R\�@LEGBmp}?�CL�4JomBmp�oLEIOLp�oBLEL�EL�DGDEBJp�}?�?OBJFLUEID\�N?DGRLH� NGBGK� o?RI�GFJOL@J'� :G� @mQ� FmC� NBJEL�EJ� DF?Q?TmEHLCC\�K?�6LEBeDm'�<mDE'�XeSCJS�Ee|JEI�TL�DF?fU�4EG~?Um�TmEHLf'��G�F�CI?Q?�NGB�L�DNBLFLp�RJ�G�FmKELOp�}?�B?oJEIS?Q?�oBLE�*�DE'� FmDE'� bLfFJSp� \OJS� TJ@ef�CLK� DGR?@�0'�dJFmC� }G� |JFG�� <mDE'� 4mBJS� CGEGBNGRJF?� WGOLfp� O?RJ� S?@eFmDE'�0GE\CL�B?TOL|G�NB?�S?Q?�TBLKRJFe�6?FLRIOe'�d?E?FJS2LDp�H?W�FDG�MG�S?@e�CG�K?�D@LOep�MmOLFJS�TCLEJp�}?�B?oJEI�UBJ�JCL�6LD\'�<mC�FK\WCJS��Sp�o?�F?CL�KLBeFLRL�S?@e�CLTJ@e� O?FKBe� m� N?OBJFLRLp� FJ�JRL� S?@e� D?B?WOe'� _?oBLKmFWJCLp�DELR?�NB?�CI?Q?�Ke@Lfp�@?RJEI�X?QLp�}?o�FmC�}LDRJF?NGBG|JF'�*�0?�|�S?Q?�?o?F+\T?O�H?W�BLT�NB?�CG��N?Ke@LEJ'

4E'�FmDE'�XLSKLO�CG�H?WGp�}?o�S?@e�F?B?|JEJ�NB?�KmFWLEpL� O?RJ� FmDE'� 0GE\CL�}?DI� TQLKefp� E?� FmC� TLNGBGWefp� @LHLUWJBeOL@Jp�ELp�N?NBLFJF�J��LNOe�m�N?EGB�J�BeO?U�OLBOp�DOLTLFg

*�=GCm�NB?�DGDEBe�m�oBLEL�F?B?|mEIp�\O��@�HLT\SDEF?�SKG'`��OeD�RLom��@e�e�TCLEJp�WJ�WLD?@��H�F?B?Q�CG�LBG�EeFLF�TL@GCG'�dJ�Ke@LUEI�F?CJ�NB?�@GCG�

A?B'�=JB?Cp�QRJo?O?��TLO?CDNmB?FLCJS�p�@Bm\F�NB?�DL@eF?B?|Oep�LRG�F?CL�m�CG�Ke@LRL�CLFmEI�NB?�EG'

Zq�

R�U$�Y�R`��� ��U�[�]!%� !$

<Dm�DEBmRIMm�F|G�DNLRJ'�2mK�NmWWU�EBmDO?EmF�F?Q?CI'�0e|RJF?DE?QCLF�FmEGB�e�O?@JCm'�4Re|o?FJS�WJDEJEI�oLBLo?RUp�m�BLTjejBLT�WeEJ�HRUNmE�F?KJ'�dLD?@�TLECG�Re�NJCOe�mp�TLKe@LCJSp�CGDEBe|Gp� CG� F?Be�JEID\p� FN+\RJF�J� ?Wm� F� CGFmK?@G'� `� K?FQ?KJFJFD\�CL�CI?Q?'��G�oeF�@mS�FmKFL|CJS�F?\O�7JoLROL'�6?RJFmC�TLNBJ@mEJFp�}?�\�?oDGBFeU�S?Q?p�NB?K?F|eFLF�DF?U�B?o?Ee'

*�8S'''LS'''KLS'''Be'''KLS'''Beeee'''NGWG'''NGWG'''p�*� N?CmDD\NGBGBLTRJFJS�Q?R?D�e�DCm�FmDE'�XeSC?Q?'

*�PoeKJ�S?Q?p�7JoLROLp�*�OL|e�K?�KJ|eBC?Q?'2B?oeK|GCJS� 7JoLRO?U� DELF� ?N?FmKLEJp� }?� S?@e

NBJDCJFD\�CLDO?Op�}?�FmC�oeF�BLCGCJS�m�@Jp�FmKDEeNLUWJp�S?Q?TLRJ�LRJ'�8�FmC�NB?DJFp�}?o�CG�RJ�LRJ�S?Q?p�L�N?KLRJ�BeOe'2??oEJBLF�HeDEJC?U�NmE�m�N?R?|JFD\�TC?Fe�DNLEJ'

0mRIOJ� FmC� TLDCeFp� \O� F|G� XLSKLO� N?WLF� Q?F?BJEJ�}?DIOBmTI�D?C'�deEJ�EJHJS�NRLW�m�HRJNLCC\�FmDE'�0GE\CJ'�_J|eBCJSToeKJF�ELO?|�m��H'

0GE\Cm� NBJDCJFD\� oLEIO?'� <?CL� TeDEBmCeRL� S?Q?� FNGB�GNmDR\�K?FQJH�B?OmF�NmKNmRIC?��o?B?EIoJ'�<mC�NBJS�?F����FmKFmKLEJ'<Em@�CLDO?WJRJ�o?RI�GFJOJ�m�OJCeRJDI�CL����oLEIOL'�<?CL�H?WGDEBmR\EJ�T�NmDE?Rmp�LRG�CLo?��CG�DNLRUUEI'�0?@e�F?CL�NRLOLRL'

���

2GBGQR\KLU�TC?Fe�KGOmRIOL�TLNJD?O'�<?CJ�NBJS�RJ�K?�@GCGELOp�\O�F�TL|eBGCJS�?DmCCm@J�FmEBL@J�DLK�*�CG|KLCCm�OFmEJ�\oReCmp}?�DO?B?�TmF+\CeEIp�TLRJ�LUWJ�EmRIOJ�QLBCJS�DN?@JC�NB?�FGDCe'

W���'�!��������C����+ 0d�����%��� ���&�B����� � ,�'�+ ����%���B�)

,�3&�)�� ��',�&�) � ��)�&� G� ���& � ��1��� &�)�&���� ���0��%���& �0����+��1�+�����& ���+��� �3+�a�'����'�&��� ������+3�� �&-���.��HE���1�������������������� ��&�

���'��%���&��C�� ��%/P��"�UN�����&�-���.��CD�XP�b'�@J�DELRJ�KBeT\@J�}G�NmK�WLD�NGB�?��o?RI�GFJMIO?�

?OeNLMm��P5Pp�O?RJ�@J�eWJEGRUFLRJ�BLT?@�F�?KC?@e�BLS?Cm'

Zqq

P�NBJH?K?@�Cm@MmF�\�DEBmCeFD\�mT�QGC'�2GBGoJSC?D?@jbBJMLf@'0eE�T+\FJFD\�ELO?|�KBeQ�b'�4R'�N'�QGC'�2GBGoJSCmD�}G�NmK�WLDNLC?FLCC\�2?RI}m�NBJH?KJF�K?�CL�?Q?�K?@ep�KLFLF�CL@�WJELEJNmKNmRICe� RmEGBLEeBe� m� FJH?FeFLF'� PC?Fe� B?TReWJRJ� CLD� EBJB?OJp�m�@J�TeDEBmRJDI�L|�F�qk�k�B'�F�XGBGTm�6LBEeTIOmS'�4EBmWL@?\�m�b'�T�QGC'�2GBGoJSC?D?@�NBJCGDRL�CL@�oLQLE?�O?BJDEJ'<mC�KLF�oLQLE?�FOLTmF?Op�N?BeWJF�CL@�TQB?@LK|eFLEJ�ToB?UpCG� FmKKLFLEJ� Cm@M\@p� FJ�O?RUFLEJ� �4mWm�'� <� E?S� WLDpO?RJ� FmKmS�?F� QGC'� 2GBGoJSCmDp� \� FJO?CeFLF� ~eCOMmUNmKBLS?C?F?Q?p�L�b'�oeF�@?�@�TFGBHCJO?@'�:L�N?WLEOe�oGBGTC\qkZ.�B'�@GCG�LBG�EeFLR?� �GDELN?'�<FmWm� TLQR\KLRL�D@GBEI'�`poeKeWJ�FmSE?@�F?R?DEJp�FJN?B?|CJF�oeF�Cm@GMIOJS�F?fCCJS@L�LTJC� o?RI�GFJMIO?�� ToB?�p� �BLCLE� m� L@eCmMm�p� NGBGKLF� MGCL�J@� RUK\@p� L� CL� EG� @mDMG� CLFmT� LBEJRGBmSDIOJH� DEBmRGC'�?o�@LEJ�OBL}G��LRmom�p�\�N?FmK?@JF��?BEDO?@LCKLEeBe�p�}?oFJN?B?|CJRJ�MGS�@L�LTJC'�>�KmSDC?p�Cm@GMIOG�FmSDIO?�TLoBLR?Mm�DEBmRICLp�LRG��GDELN?�@GCG�LBG�EeFLR?� mp�OLEeUWJp�H?EmR?K?FmKLEJD\p�OeKJ�FmKmS�RL�ToB?\'�:L�}LDE\p��?BEDO?@LCKLEeBL�CG� NGBGoBLRL� ToB?�� T� TLDFmKWGCC\@p� m� MG� @GCG� FB\EeFLR?'� `FNGBE?�TLNGBGWeFLF�FDm�TLOJKJ�mp�O?RJ�F�@?�S�?o?B?Cm�DELCeFCm@GMIOJS�@LS?Bp�\�WeK?@�FJBFLFD\�T�omKJ'�b'�\�TeDEBmF�TC?FeCL� N?WLEOe� KBeQ?�� o?RI�GFJMIO?�� ?OeNLMm��*� F� �A?R?KC?@e`Bm�'� 2mDR\� @?Q?� FmKH?Ke� CL� /G@OmF}JCe� FmCp� oeKeWJ?OBe|CJ@p�FRmEOe�qkZY�B'�FmKFmKLF�@?U�D?ECU�F�6jm'�<GDGRJSCLDEBmS� FmSDIOLp� o?fFJS� KeH� N?K?oLRJD\� S?@ep� L� O?RJ� RmOLBDOLTLFp�}?�DELC�TK?B?F+\�D?ECm�CLSOBL}JS�F�?OBeTmp�b'�DORLF@GCm� NBJTCLCC\'

���

_BeQL�TLNJDOL�FmK�1RGQLp�O?RJ�CI?Q?�FJH?FCJOL�FmKKmRmF�XeRLFL�p� �XLDGSC�p� L� ?DELCCI?� @?f�� RG@OmFDIO?�� D?ECm� K?FGBGDC\� qkZY� B'�2GBGS�?F�J� T� PLOGBT?CC\� FRmEOe� qkZnp� FmC?oC\F�N?DE�BLS?C?F?Q?�4jJ'

W������'�!��������C� ���1�% ���� ���%�� &�� ���� ��,�'���� ����%���B�)

� ��)�& �� ��&�% ����0� � ��&��� �� ��� ���+/B� ���T���������B�,���1�0���&�����/����&������������(� ��I�+/B� ,���1 &����������/ �� 0���0 �� a� ���%��1 �� ��B��� ����/ � ���� �� ,��� ,���/�� ����%/ �� � 3/ � ��)�%

Zq.

��1�+�� ���� � �� ����/ �� � ���%��� ��B� ���������� �0��c3��� !�0�& � �,�/B���� ������ �+���� �� .. ����� �0��,�� ��)C a ����&�� ,�& 0 �K��� J����� ��� ��(�&�3�� ���,��� !��������/ � ���� ��&���&/B�2� ��'� ������& �� ���)�a�B�&��,��� �,�/��&�0���%���0 �,�+������� ���� ������,���� ��/)��(��&����&��������+� ������'����&�����&��� � �� �,�� a������ �,� ��&����� �H I� &�+&�&��B�/(�B���Ha���(�&�3�� ��K����)�& ���1� ������������������/ (� &'� ���,���� � � &��&�'��� �HI� 0���&�����/B� 0��)����� � & -���.��H I� ���(�& � 0 �K���L������Ha�B�%��1����/&�0��� �,�����������,��)/��&��)/&��&�'��) �������&��)�(��������,������3&����E�(�'�) �������&���� ��������� ���)��� (�� ����1�/ ,� 0��� ��������� E��������(�/�����1������&������ �����0����&�&�������K�� ���)�/ 2����/ ���&�/ ��&���� � & �) ��1�) �K��& �� �������&���,�'�%.�����%���B�)� ��)�&�

����+B���C�� ��%/PP�"�UN��A����XP�K'�1RGQ?@�\�oL|LF�DEBmCeEJD\�}G�NmK�WLD�BGSKe�F�|?FECm

qkZn�B'�XeF�F|G�oRJTIO?�CI?Q?p�LRG�DCmQ�NGBG�O?KJF'P�K?oBJ@�@?�@�KBeQ?@�1RGQ?@�F|G�CG�DEBmCeFD\�CmO?RJp

o?�FmC�FmKmS�?F�EeKJp�OeKJ�FmKmS�R?�oLQLE?�QGB?�F'1RGQ�N?H?KJF�T�DGRL�d'p�oeF�F?R?DCJ@�FmSE?@�F�7'�NmK�WLD

Cm@GMIO?��?OeNLMm��m�TLBLT?@�NBLMUFLF�F�B\KLH�BGF?RUMmSC?Q?NmKNmRR\'� <� qkZZ� B'� NGBGS�?F� K?� 528p� KG� FFGDI� WLD� FJO?Cef~eCOMmU�FJH?FCJOL'�4F?fU�KBe|CI?U�N?FGKmCO?Up�|JEEfFJ@K?DFmK?@p� mKGSCmDEU�Te@mF�FJH?FLEJ�KJDMJNRmC?FLCJH� mKGSCJHF?\OmF'

���

0BGE\�TLNJDOL�FmK�K'�X?BJDLp�}?�oeF�BLS?C?FJ@�F����BLS?CmCL�/G@OmF}JCm'�0GNGB�MU�DL@e�~eCOMmU�FJO?Cef�F�����BjCm�4jJ'

W���&�-���.��C���'�!��������C� ���1�% ���� ��1� ��� ��g�����+&��� 0� &� ���

&��0��(����/���������'������� �1�������/B���1�,�3&�0� ���� ��S����&B��� ����'�� ������� � �������'����L�+,�'������ 0� ������������+/B�&���������,c+ ����� �

Zq�

a���(�&�3�� �,�&��&��� �����&�B�C$���&���%��&�������� ����� �& �) ��1�)��.)0��%���)/B������,����� �$��������)�����(������,������'���&���� ������&������Ha��+���������0P#��,�����0����������'� ��������

����+B����� ��%/���Y�UN��J��� X�X?BJDL�NmTCLF� \�CL�/G@OmF}JCm� TJ@?U�qkZn�B'p� O?RJ�@J

NGBGH?KJRJ� BGSK?@� WGBGT� S?Q?� EGBGC'� <BLKeFLCJS� EJ@p�}?N?\FJRJD\� .� D?ECmg� @?\� m� OjBL�4ELHLp� NBJReWefEID\� T� DF?�@JDEBmRIM\@J� K?� CLDp� BGSKef� BLT?@� m� Em�JEID\� EJ@p� }?� @JDORJOLf@?�To?BJp�NB?NL�LCKJFCm�B?T@?FJ�m�NmKC?DJ@?�CL�KeDmCLDGRGCC\'�_?�E?Q?�WLDe�oeR?�ELOp�}?�N?RIDIOm�FmKKmRJ�DF?omKC?H?KJRJ� N?� EGBGCm� m� FQLC\RJ� TL� @LRJ@J� QBeNL@J� N?FDELCMmF'6?RJ�|�@J�N?\FJRJDI�EL@p�FmKBLTe�TCJORJ�F?B?|m�DNGMQBeNJp�mN?FDELCMm�@?QRJ�FmKKJHCeEJ'�2mDR\�CL�?Q?�BGSKe�FmC�CLNJDLFTLNJDOep�L�F�CmS�DOLTLC?g��<L��BGSK�TB?oJF�omRI�Gp�\O�MmR?BmWCLNBLM\�?KC?Q?�NB?NL�LCKJDEL�'

2GBGNJDeUWJ�Mm�TLNJDOJ�K?�@?�H�DN?@JCmFp�NBJS�RL�@GCmKe@OLp�}?�HE?DI�T�WJELWmF�T@?|G�N?DELFJEJ�NJELCC\p�N?}?��HN?KLU'�7?oRU�MG�E?@ep�}?�H?We�KLEJ�DJRIFGEOe�N?FDELCMmF�ELFTLf@JC�@m|�CJ@Jp��H�EG@LEJOe�F�TLNJDOLHp�OLBEJCJ�T�|JEE\'2BJ� E?@e� O?B?EO?� TQLKeU� NB?� O?|C?Q?� LFE?BL'� `� DFmK?@JSp}?�TLFEBL�CG�?KJC�T�CJH�FmKmSKG�e�FmWCmDEI'

PLNJDOJ�N?|?FOCeEI�F�NmKTG@GRICJH�OBJ�FOLH'''�6BL}G�HLSoeKeEI�TLNJDLCm�F�DN?@JCLH'�_G\Om�BGWm�EBGoL�oeR?�NB?NeDEJEJT� ?QR\Ke� CL� O?CDNmBLMmUp� @?|RJF?p� }?� F?CJ� m� NB?NLKeEIoGTDRmKC?'�<DG�?KC?'�/GQ�G�CL�DGBMmp�O?RJ��H�NJ�e'

#T�^$l� !\���k�U ����RVY�%

bBeKCGFJS�BLC?O�FmELF�DFm|J@p�omRJ@�DCmQ?@'�2LKLF�FmC�CLTG@RU�EL�\RJWOJp�\O�FE?@RGCm�@GEGRJOJ'

4EBmRIMm�FJFWLRJ�RGOMmU�NB?�8CQRmU'�XL|LUWJ�eNBJf@CJEJMU�RGOMmUp� DEBmRIMm� DELFR\EI�NB?N?TJMmUg� �X?RI�GFJOJ� DOBmTIBGNGEeUEIp�}?�F�8@GBJMm� m�8CQRm��B?omECJOJ�Ke|G�omKeUEIp� L� F4447p�NmK��D?CMG@�DELRmCDIO?��O?CDEJEeMm���*��}LDRJFG�EL�BLKmDCG|JEE\�'� 0L� WJ�CG�@mQ� oJ�4ELRmC� TLoBLEJ� T�8@GBJOJ� EL�8CQRm��N?OBJFK|GCJH��K?�D?FfEDIO?Q?��BLU�p�m�F|G�oeF�oJ�DF\EJS�DN?OmS��

ZqZ

4ReHLUWJ�MGp�W?ELB�2LDp�}?�F�Ee�HFJRJCe�\OBLT�NGBGWJ}ejFLF�DOGRO?�m�TL@LRUFLF�D?om�FeDLp�K?BLK|efg

*�`�BLKJF�oJ�NmDRLEJ�EeKJ�FDmH�NeTLEJH�o?RI�GFJMIOJHFGRI@?|� m� �K?oRfDCeU�QLR?KCeU�OL@DL@?RIDIOeU�@LRLKI?|�'ALS�mKeEI�N?KJFJEJD\p�\O�EL@�F�8CQRm��Em��Q?R?KeUWm��B?omECJOJ�K\EI'� 0L�|� F?CJ� CG� oLWLEI� CL� DF\E?� DF?o?KJ� E?Q?p�}?� EL@B?omECJO�@Lf�CL�oeKGCI'

<Em@�DEeOLf�DEmSO?FJS'�<KLBJF�KTF?CJO'5FLQL��8R\B@�PoJBLU� DO?B?� @LEGBm\RJ'� 4EBmRIMm� HLNLUEI� TL� ToB?U'

<JomQLUEI� CL� oeCOGBp� TLS@LUEI� DELC?FJ}Lp� WGOLUEIp� L|�@JFDm�N?FJH?KJ@?'�:L�FGBHe�F�RmDm�e�FmKKLRm�q[�@�WeEJ�o?RI�GFJMIOmOBJOJg��KLFLS�FNGBI?K���m�OBmD?Fm�N?DEBmRJ'

=J�FDm�CL�FGBHe�oeCOGBep� EmRIOJ�?KCL�0GE\CL�W?@eDI�CGFJRLTJEI'� `� FDO?WJF� K?� oeCOGBe'��?� FRLDEJF?� T� CGU�� <?CLH?R?KC?OB?FC?�DE?�EI�e�FJH?Kmp�F�BeOLH�EBJ@Lf�oLCOe�oGCTJCJEL� DmBCJOJ'

*�<JRLTmEI�DO?B?��*�OBJWe�K?�CG�'*�dGOLSEGp� oeKIEG� DN?OmSCm'� <J�oeKGEG� DEBmR\EJp� \�|� TL

E?S� WLD� oGCTJC?U� ?oRJU� oeCOGB� m� TLNLRU'� 0L� MG�|� oeF� oJD?B?@p�}?o�@J�F?B?Q?Fm�TLRJ�JRJ�CL�e�HLEe'

2?Q?K|eUD\� T� CGU� m� FGBELUD\� CL� DELC?FJ}G'� <?B?QE?FWGEID\�omR\�CLD�KLRm'�6?|CJS�RG|JEI�CL�DELC?FJ}m�F�DCmQem� WGOLfp� O?RJ� N?OL|eEID\� TjN?@m|� D@GBmW?O� F?B?|m� Q?R?FJ'4GBM\� E?FWeEID\'� :ep� }?o� F|G� DO?Bm�Gp� o?� ELOG� WGOLCC\HFJRUf'�8o?�FJSKeEI�CL�CLDp�Lo?�?@JCeEI'

*�_LFLSp�NLKI?@�''�EF?U�@LEI�`�K?QLKLFD\�F�Ee�@JEIp�}?�MG�N+\Cm�o?RI�GFJOJ�NGBGH?K\EI

WGBGT�RmD'��G�CG�?oRLFL'�0mRIOJ�RG|LEJ�EJH?�m�KLRm�FFL|LEJ'�G� KGOmRIOL� HFJRJCp� m� F?B?|m� Q?R?DJ� FEJHRJ'�2?DEBmRJ

FmKKLRUFLRJD\� FmK� CLD'� 2?F?Rm� NmKCm@Lf@?D\'� 4E?�@?� }GNmFQ?KJCJ� m� N?� ?KC?@e� N?WJCLf@?� FGBELEJDI� K?� oeCOGBe'PFJWLSC?p� NmDR\� LR\B@e� F� oeCOGBm� NLCef� Qe@?Bp� NBJS�R?FmKNBe|GCC\'�4EBmRIMm� N?WLRJ�|LBEeFLEJ� T� DE'� FmDE'� XLSKLOLp}?� RG|LWJ� CL� DELC?FJ}mp� NBJKJFR\FD\� K?� KTGBOLRLp� }?oNGBGO?CLEJD\p�WJ�FmC�Ke|G�ToRmK'

���

:LKH?KJR?�N?ReKCG'�<GDGR?�TLDFmEJR?�TJ@?FG�D?CMG'�4CmQ

Zq[

N?WLF�E?NJEJD\'�1oGBELf�N?ReKCGFJ@�FmEB?@'�<GDGR?�DNmFLUEIDCmQeBmg� DmCIjMmCIp� DmCIjMmCI'� <m}eUEIp�}?� oeKG� �N?NeDO�'�2mKFGWmB�N?DELRJ�NB?QLRJCJp�@mDM\@J�N?W?BCmRL�TG@R\p�@?|CL�SEJF�DGR?p�CL�B?TFmKOe'�0mRIOJ�DEG@CmR?p�EBmSOLg�2LDp�<JH?B�m�4mBJS*�FmKmS�RJ'�A?B'�=JB?C�Nm�?F�CLKDReHeFLEJ'

<mDE'� 0GE\CL� H?EmRL� CLFWJEJD\� QBJ� F��LHJ'�4N?WLEOe� MGDNBLFR\f��S�EBeKC?}mp�LRGp�O?RJ�NmTCLRL�FDm�NBLFJRL�QBJp�N?WLRLT@LQLEJD\�T�CLSDRLo�J@J�DEBmRIM\@J'�<Em@�FH?KJEI�H?B'�=JB?Cm�OL|Gp�}?�F�DGRm�oRJDELRJ�BLOGEJ�m�WeEJ�oeR?�LFE?@LECm�WGBQJ'PRG'� =LoeEIp� oeRL� DEBmWLp� Lo?� CLDO?O� F?B?QL'� 1|JKLf@?CGEGBNGRJF?�N?F?B?Ee�CL�JH�B?TFmKWJOmF'

�?DI�NmDR\�KF?H�Q?KJC�NBJS�RJ�F?CJ�FE?@RGCmp�N?E?FWGCmpN?KGBEm� KB?E?@� m� MF\HL@J'� 8RGp� X?Qe� K\OeFLEJp� oLWe� �H� FDmHEBI?H�|JFJ@J'�d?E'�2LD�TFmEefg

*�0mRIOJ�@J�NmKDeCeRJD\�K?�DGRLp�N?KLRJD\�K?�NGFC?��HLEJTL�B?TFmKO?U'�_F?H�CLD�eFmS�RJ�K?�DGBGKJCJ'�<mDE'�4mBJS�?DELFCL� DEmSMm'� /J�G� \� DOLTLF� KGOmRIOL� DRmFp� \O� N?� FmOCLH� HLEJN?DJNLFD\�F?Q?CI�T�LFE?@LEmF'�6mRIOLBmWCJS�HR?NWJCL�Q?DN?KLB\oeF�FoJEJS�FmKBLTe�CL�@mDMm'�6eRm�NBJDOLRJ�N?�Q?B�OLHp�DE?Rmp?oBJFLRJ�FLNC?�mT�DEmC'�̀ O�EmRIOJ�N?DJNLRJDI�DEBmRJp�@J�NBJNLRJK?�TG@Rmp�CL�BeOLH�FJN?FTRJ�K?�DmCGSp�L�TCLUWJp�}?�F?B?Q�o+fELO?|� N?� KFGB\Hp� DEBJoCeRJ� WGBGT� N?BmQ� m� N?O?EJRJD\� N?N?KFmB+U'�<JH?KJR?p�}?�F?B?Q�RG|LF�CL�TLDmKMm� mp�N?oLWJF�JCLDp�Nm�?F�TL�CL�J@J�DRmKL@J'

:L�� DEmSO?FJS� NGB�JS� N?WLF� DEBmR\EJp� }?o� DEBJ@LEJF?B?QL� m� e@?|RJFJEJ� CL�� FmKHmK� T� HLEJ'� <?Q?CI� oeFDNB\@?FLCJS�K?�HLEJp�o?�F?B?Q�CG�TCLFp�KG�DE?�EI�DEmSO?FJS'<DG�oeR?�o�QLBLTKp�\O}?�o�F?B?|m�BLOGEJ�CLD�CG�?DRmNJRJ�ELOp}?�@J�CG�@?QRJ�FmKCLSEJ�FJH?Ke�T�TLQ?B?KJp�FmKDEeNLEJp�O?RJBLOGEJ� oRJ}LEIp� oeR?� MmRO?FJE?� CG@?|RJF?'� `OJ@DI� WeK?@@J� K?NLRJ� KmBe� F� NR?Em'� 2GBGBFLRJD\� F� Q?B?Kp� FJomQRJ� CLO?RUWJS�KBmEp� \OJS�FmKOJCeF�CLD�TC?Fe�CL�.j��@�K?�TLKe'�8EeE�o?D\WCL�TL�NRGWJ@L'�/e}LEIp�L|�e�FeHLH�KTF?CJEI'�_?NLF�JN?E?Oep� DEBJ@ef@?� F?B?QL� F?QCG@� LFE?@LEmF� m� HmRIMG@FmKDEeNLf@?'

7?TFmKOJ�CG�NBJCGDRJ�|LKC?�'�<�DGRm�TLBLT�N?QLDRJ�R\@NJpRUKJ�N?TL@JOLRJ�KFGBmp�m�NmDR\�ELO?��N?Km��CmHE?�CG�KmDELCGEID\K?�HLEJ'

4I?Q?KCm�C\�TeDEBmW�T�F?B?Q?@�*�KR\�CLD�N?QLCL�DNBLFL'

ZqY

=?|RJF?p�oeKG�?oRLFL'�<�K?KLEOe�NGBGH?KJRL�O?R?�CLD�}G�QBeNLo?RI�GFJOmFp�m�CG�TCLf@?p�W?Q?�F?CJ�H?EmRJ'

���

:LDEeNC?Q?�KC\�O?BJDELUp�}?�DCmQ�}G�omRI�G�DE?NJFD\p�SmKe� DL@� mT� DEBmRIM\@J� T�?KCJ@�NGFCJ@� Q?DN?KLBG@p� \OJS�@LfmC~?B@eFLEJ�CLD�NB?�EGp�}?�CL�RmD�mKG�?oRLFL'

2GBGoJBLUD\�TL�DEBmRIM\p�oGBe�DELBJS�FmSDIO?FJS�NRL}pOBmD'�:GQ?RGCJSp� CL� Q?R?Fm� CLSQmB�L��LNOL'� <Dm� @GCG�@LUEIORJOLEJ��EJ�p�N?�NDGFKm�X?B}'�:L�J@�B?fFJ@�oeKG�W?E'�2LD':LSomRI�G�|LRI�@GCm�Q?RJEJ�FeDmF'�A?We�N?WeEJ�DL@p�HE?�f�E?SQ?DN?KLBp�WJ�@?|G�FmC�oeEJ�CL�J@�K?FmBGCJ@'�0?Km�KL@�S?@eFmKN?FmKCm�FOLTmFOJ'

:L�NBJDmROe�KmDELRJ�B?TFmKOep�}?�F�DGRm�DN?OmSC?'�2B\@ef@?K?� E?Q?� Q?DN?KLB\p�}?�S?Q?� DEBmRIMm� FFL|LUEI�CLSNGFCm�J@'2mDR\�?KC?Q?KJCC?��B?T@?FJ�\�FNGFCJFD\p�}?�FmC�WGDCL�RUKJCLEL�mKGSCJS�eOBL�CGMI'�0?Km�FJDEeNLU�T�CL�J@J�NB?N?TJMm\@J'b?DN?KLBp�CG�Ke@LUWJ�K?FQ?p�KLf�DF?U�TQ?Ke'

*�4EmRIOJ� N?FDELCMmF� F|G� TQJCeR?p� m� ELO� oLQLE?� RUKGSFJFGTRJ�F?B?QJ�CL�4JomBp�E?�W?Q?�\�@LU�o?\EJDI�D@GBEJ'

=J� e@?FJRJDIp� O?RJ� F� EGBGCm� DN?OmSC?p� E?� FmC� oeKGFJDJRLEJ�DF?��KmEJ�CL�DLCOJ'�6BJOJ�KmEGS�oeKeEI�KR\�CLD�TCLO?@p}?�CG@Lf�CGoGTNGOJ'�6?RJ�|�F�DGRm�oeKG�F?B?Q�*�oeKG�EJ�JCL'6?RJ�|�F?B?Q�oeKG�SEJ�CL�RmDp�E?�Q?DN?KLB�@Lf�OeFLEJ�BL~J�K?O?RmD'

���

<�oeCOGBm�WGOLRJ�CLD�CGEGBNGRJF?'�6?|CJS�Ke@LFp�}?�\OF|G� \� Nm�?F� F� DGR?p� E?� NBJCGDe� CG� TCLEJ� \Om� FmK?@?DEJ'� 0LC?FJC�CG�oeR?�oLQLE?'

bBeNL�o?RI�GFJOmFp�}?�NGBGH?KJRL�oeRL�RmD?@p�MG�RmD?BeoJp}?�FG�ELUEID\�FDUKJ'�P�CJ@J�f�NGBGoBLCm�CL�TFJWLSCJH�F?\OmFDELB�JCJ�=<_'� <?CJ� \OBLT� TR?FJRJ� Q?DN?KLB\p� }?� QCLFDL@?Q?Cp� FJH?KJRL�NGB�L� Q?BmROL�*�CG�~mRIEB?FLCJS�DJB?N'<?CJ�NBJNLRJ�K?�CI?Q?p�FJNJRJ�K?�KCL�m�CG�N+\Cm�Nm�RJ�CL�J@RmD?@'

0GNGB� o?RI�GFJOJ� TLDE?DeFLRJ� C?Fe� ELOEJOe'� bBeNLTLH?KJEI�FC?Wm�K?�\O?�DI�HLEJ'�4JK\EI�EL@�oGT�DFmERL�m�oGT�DEmSOJ'

Zqn

PLQR\KLUEI�WGBGT�FmOCLp�Lo?�FmO?CM\�F�DELSCmp�WJ�CL�DEBJHe�*�mELO�MmRe�CmW�WGOLUEI�CL�N?FDELCMmF'�_?�?KCmf��Q?DN?KJCm�TLS�RJF?CJ�Q?R?KCmp�@?F�F?FOJ'��mRJS�KGCI�Q?CJRJ�N?�RmDmp�NGBG�eOeFLRJN?E?OJp�L�EGNGB�NBJS�RJ�CL�TLDmKOe�F�DGR?'

b?DN?KJC\�N?ORLRL�KmEGS�CL�NGWmp�L�DL@L�N?WLRL�Q?EeFLEJFGWGBU'�:L�DEmR�N?ORLRL�HRmo�m�Nm�RL�N?�@?R?O?'�6?RJ�FGBCeRLD\po?RI�GFJOJ�F|G�T+�RJ�HRmo'�4ELFJEI�CL� DEmR�@?R?O?� m�SKG�N?FLBGCe� OLBE?NRU'� <GBCeF�JDIp� CG� TLDELRL� CL� DE?Rm� @?R?OL'2BJQLKLRLp�}?� @Lf�}G� OLNeDEe'�2m�RL� N?� CG�p� m� TL� E?S� WLDo?RI�GFJOJ� T+�RJ� oLBLo?RU'� _mEJ� N?WLRJ� D?om� NB?DJEJ� �DEJ'b?DN?KJC\p�}?o�TLONJEJ�D?om�T�o?RI�GFJOmFp�OBJOCeRL�K?�KmEGSg

*�XeKG��EJH?p�H?WG�p�oJ@�E\�N?DELFJRL�F�@JDOep�E?�TLBLTTm|BeEI�

8RG�o?D\OL@�MG�CmW?Q?'�<?CJ�Nm�RJ�}G�K?�KBeQ?��Q?DN?KJCmS�N?T+�KLRJ�F�CG��EG|�FDGp�}?�oeR?'�:GKLB?@�N?FDELCMm�DNmFLUEIg

W���)�������)�0�%���W��%)�0�%����1���CX!����0�&� ����������_�����/�' ��� ���X

�"�V!�_V�� ["���!�R�

<mDE'�0GE\CL�B?TQ?BCeRL�QLTGEe�m�DOLTLRLg*�4ReHLSEGp� NB?WJELU� <L@� E?DE� 4ELRmCL� T� qkZn� B'� TL

B?DmSDIOJS� CLB?K'>�WJELfg��`�NmKCm@LU�E?DE�E?@ep�}?�MG�CLSFJKLECm�L�CLMm\

T�eDmH�CLMmS'''��?�MG�OGBmFCL�DJRL'''�}?�F�CI?Q?��B?DmSDIO?Q?CLB?Ke�� DEmSOJS� HLBLOEGBp� \DCJS� B?Te@� m� EGBNmCC\�'� �8� KLRmp*� DOLTLRL� FmDE'� 0GE\CLp�*� EeE� NJ�GEID\p� }?� 4447�*� MGKGB|LFL�CLSNGBGK?Fm�?��KG@?OBLEm�p�CLSNGBGK?Fm�?��CLeOJp�LTLHmKC\� CLeOL�*�MG� QCJRI� m� QB\TI'� _BeTmp� \� H?EmRL� o� N?WeEJ<L�m�Ke@OJ�CL�MU�EG@e�'

/G@O?�7JoLROL�RUoJF�NmKEBJ@eFLEJ�mCmMm\EJFe����*�RG@OJCmm�DOLTLFg

*�`�oLWJF�o?RI�GFJMIOe�OeRIEeBe�B?DmSDIO?Q?�CLB?Kep��HNLBEJTLCJ�F�qkZZ�B'�oeRJ�F�@?f@e�DGRm'�2BJH?KJRJ�mT��OmB\CJ@@mH?@p� QBLoJRJp�}?� EmRIOJ�N?NLR?� m� TRJFLRJ�K?� E?Q?�@mHLp� \O@?\�@LEJ�K?�O?BJEL�KR\�DFJCGSg�@?R?O?�D?R?KOGp�OFLDCGp�\SM\p

Zqw

OL�ep�Q?ReoMmp�o?B}p�OLNeDEep�FLBGCG�@+\D?'��G�CGDRJ�K?�RmDeKR\�DF?�H�O?@LCKJBmF'�1E�ELO�|JF��DELB�JS�oBLE�'�`�TCLU�EG|�H�\DCJS�B?Te@p�\O�F?CJ�F@mRJ�OBLDEJ�Q?KJCCJOJp�CLDJReFLEJCLFmEI�[�jBmWCm�|mCOJp�L�oBGHLEJ�ELOp�}?�CmHE?�mC�JS�F�DFmEm�CGN?EBLNJEI'� PBG�E?Up� NB?� MG� FDG� TCLf� F|G� KG}?� DFmE'� 6?RJD?FfEDIOL�LB@m\�FH?KJRL�F�dGHmUp�WGHJ�DELFJRJ��S�EBme@~LRICmoBL@J'�8RG�o?RI�GFJOJ�B?ToJFLRJ�NJFCJMm�T�FJC?@p�N?oJFLRJNR\�OJ�WGBQL@J�LFE?@LEmF'�1oOBLKLRJ�WGHmF�T�Q?KJCCJOmF'�:GKJFC?p�}?�?KC?Q?�BLTep�O?RJ�F�2BLTm�FJDELFRUFLRJ�~mRI@p�\OJSN?OLTeFLF�TeDEBmW�4ELRmCL�T�dGBWmRG@�*�dGBWmRI�@LF�CL�BeMmQ?KJCCJOL�*�mT�TLRm�N?WeFD\�Q?R?Dg��dGBWmRIp�DH?FLS�WLDJp�o?Em�4ELRmC�FGT@m��

<�6BLO?Fm�f�NL@+\ECJO�/GCmCLp�}?�BeO?U�N?OLTef�CL�TLHmK'1KCmf��C?Wm�HE?DI�N?FmDJF�S?@e�CL�BeOe�oeKJRICJO�T�CLNJD?@g��BLo?FLRGDI�F�cFB?Nf�F�JDEDOf�TG�LBOm�m�B?FGBJp�E?�FGTI�f}GEGC��BLE�K?�H?RfBJ�'

_?� ?KC?Q?� Q?KJCCJOLB\� NBJS�?F� BeDOJSjO?@D?@?RGMI'2BJCmD� S?@e� FGRJOJS� oeKJRICJO� m� CLOLTLF� TB?oJEJ� T� CI?Q?EBJ� @LRm'� 6?RJ� @LSDEGB� N?WLF� S?@e� T+\D?FeFLEJp� }?� MGCG@?|RJFGp� o?RI�GFJO� DOLTLFg� �0L� \� Efo\� ?DF?o?KmR� ?K~L�JDEDOJH� FLBFLB?Fp� L� EJ�@Cf�Cf� HLEm�� TKfRLEI� WLD?F'�<?EEGNGB� @LHCG@g� \� Efof� KLU� o?RI�JG� WLDJp� L� EJ� @Cf� GEJf@LRGCIOJG�'� XGT� NJELCC\� TLoBLF� @LRJS� Q?KJCCJO� m� FJS�?F'0LOJH�NBJORLKmF�@?|e�CLFGDEJ�D?EOJ'

4R?F?�TLoBLRL�FmDE'�0GE\CLg*�X?RI�GFJOJ�OL|eEIp�}?p�\O}?�o�CG�B?DmSDIOJS�CLB?Kp

E?�5OBL�CJ�CG�oeR?�o'�2B?�5OBL�Ce�CmHE?�CL�DFmEm�CG�WeF�oJ'6L|eEIp�oeKIEGp�eOBL�CDIOJS�CLB?K��mT�DF\EJ@�F?QCG@�RUo?FJ�m� oGT@G|C?U� FmKKLCmDEU� BmKC?@e� oBLE?Fm�*� B?DmSDIO?@eCLB?K?Fm� oeF� FK\WCJS� TL� EGp� }?� O?|CJS� CL�� NJDI@GCCJOp@JDEGMIp� CLeO?FGMI� WGBNLRJ� �NGBGK?Fe�CLeOe�� FmK� �DELB�?Q?oBLEL�'�P�FK\WC?DEJ�TL�EG�*�CmoJE?��K?oB?F?RIC?��*�N?DJRLf5OBL�CL� K?�=?DOFJ� @mRIS?CJ� NeKmF� HRmoLp� @LDRLp� @+\DL� ELW?R?oJECm� F� RJDELH� K?� 4ELRmCL'� 7?DmSDIOJS� CLB?K� KLf�fKJC?OB?FCJ@�oBLEL@���FGRJOe�K?N?@?Qe�p�C'�NB'p�EJD\Wm�NLBRmFJH� OLRI?�mFp� FLQ?CJ� ?KGO?R?Cep� EJD\Wm� ?BKGCmF� m� @GKLRmFpMmRJ�EBLCDN?BEJ�Q?BmROJ�S�N?B?|Cm�MJDEGBCJp�}?o�FJF?TJEJ�T5OBL�CJ�CL~Eep�oGCTJCe�S�?RmS'�2BJDJRLf��CLSOBL}JH��DF?�HDNGMm\RmDEmFp�}?o�OGBeFLEJ�B?o?E?U�eOBL�CDIOJH�B?omECJOmFp�L

Zqk

CLNBLFKep�}?o�GODNReLEeFLEJ�m�FJTJDOeFLEJ�eOBL�CDIOJS�CLB?K'<GRJOm� NB?DE?BJ� CL�JH� RmDmF� TL@mCJRJD\� F� NeDEJBmp� FDGFJBeoeUUEI� m� FJF?T\EI'

4ELRmC� m� B?DmSDIOJS� CLB?K� ELO?|p� CmoJE?p� KoLUEI� NB??TK?B?FRGCC\�eOBL�CDIO?Q?�CLB?Kep�CL�KmRm�FCLDRmK?O�@LD?F?Q?CLDJReFLCC\�|mC?O�|LHRJF?��JB\EID\� FGCGBJWCm� CGKeQJ'�^� FCLD�BLS?CJp�C'�NB'�4RLFDIOJSp�KG�w���CLDGRGCC\�FGCGBJWC?�HF?Bm'

4E'�FmDE'�XLSKLOg*�8��CLSomRI��KG@?OBLEJWCm��FJo?BJp�MG�HmoL�CG��OBLDL�

B?DmSDIO?Q?� CLB?Ke�� 0L� @?f� DGR?� MmRO?@� CG� oBLR?� eWLDEJ� eFJo?BLHp�L�o?RI�GFJOJ�CLNJDLRJ�F�NBGDmp�}?�DGR?�Q?R?DeFLR?CL�q����TL�NLBEmU�/GCmCLj4ELRmCL'�<�DeDmKC?@e�DGRm�o?RI�GFJOJDEBmR\RJ�K?�RUKGSp�}?�FEmOLRJp�o?�CG�H?EmRJ�Q?R?DeFLEJ'�PLS�RJK?�MGBOFJp�O?RJ�FmKNBLFR\RLD\�4Re|oL�X?|Lp� m�OBJWLRJp�}?oRUKJ�TLBLT�m�RJ�Q?R?DeFLEJp�o?�mCLO�G�OJCeEI��BLCLEJ'

8� \O� FJQR\KLf� DF?o?KL� BGRmQm���*�1KCJH� DF\}GCJOmFN?DEBmR\RJp� KBeQJH� FJFGTRJ� CL� 4JomBp� L� Emp� }?� NmKNJDLRJNBLF?DRLF+\p�@eD\EI�oeEJ�DGOD?EL@J'�XLQLE?�MGBO?F�N?TL@JOLRJCL�ORUW'

<mDE'� XeSCJSg*�=J� NmTCLRJ� ELO?|� �DEmSOJS� HLBLOEGB�� B?DmSDIO?Q?

CLB?Ke'�1E�F�DGRm�4'�o?RI�GFJOJ�TLBmTLRJ�KJEJCe�oLQCGEL@Jp�LF�:'��H�q[�TCLDJReFLR?�?KCe�KmFWJCe'�9��oJRJp�OLEeFLRJp�FmKELOCLEJBLRJ�DmRRUp�NGORJ�CL�OeHCm� m�TC?Fe�CLEJBLRJ�DmRRUp�}?oF?CL�NBJTCLRLD\p�}?�DNmFNBLMUf�T�N?FDELCM\@J'�0LO�FJQR\KLf�EGBNmCC\��B?DmSDIO?Q?�CLB?Ke'

A?B'�=JB?C�ELO?|�TLoJBLf�DR?F?g*1DI� B?TOL|e� FL@p� KR\� O?Q?� OeB?BE� F�=?B�JCm'� <Dm@L

FJQ?KL@J� OeB?BEe� O?BJDEefEID\� FJORUWC?� DELRmCDIOL� ORmOL'_R\�CJH�f�T�O?@~?BE?@�FDGp�}?�EmRIOJ�TLH?WeEI'�_GO?RJp�KR\?OLp�NBJDJRLUEI�EeKJ�ELO?|�KGOmRIOL�B?omECJOmF�m�O?RQ?DNCJOmF'<Dm�F?CJ�omKC?�?K\QCGCm'�1KJC�O?RQ?DNCJO�NBJ�HLF�CLFmEI�oGT�LNOJ�m�o?DJS'��G�CG�FJRmOeFLCJSp�TLFJCeF�J�C?QJ�F�?CeWmpELOJ�oGT��LNOJp�N?�HLF�K?K?@e'�=GKDGDEBL�ToJBLRL�FmK�B?omECJOmFDLCLE?Bm��QB?�m�CL�omRGEJ�O?RQ?DNCJOL@�K?K?@e'��G�NBJORLKJCL�EGp�\OL�BmTCJM\�@m|�D?FfEDIO?U�NB?NL�LCK?U�m�KmSDCmDEU'

4E'�FmDE'�7JoLROLg*� dJELUWJ� NBGDep� CL� O?|C?@e� OB?Mm� TeDEBmWLf@?

?N?FmKLCC\� NB?� �BLKmDCG� m� TL@?|CG� O?RQ?DNCG�|JEE\�'� 0J@

Z.�

WLD?@�e�CLD�O?RQ?DNCJOJ�SKeEI�CL�|GoBJ�K?�?KC??DmoCJOmFp�o?Tom||\� T� O?RQ?DNe� TLoBLRL� KGB|LFL'� dJELUp� }?� DGR\CJpNGBGO?CLF�JDIp� }?� �oLQLEG� |JEE\� DEGRGEID\� EmRIOJ� WGBGTO?RQ?DN�p�K?oB?FmRIC?p�T�FGRJOJ@�FK?F?RGCC\@�TLR?|JRJ�S?Q?F�DGoG'�>Ke�K?�E?Q?�DGRL�m�K?FmKeUD\�|LHRJFm�BGWmg�Cm�?KJC�DGR\CJCCG� NmKNJDLF� TL\FJ� NB?� FDEeNRGCC\� K?� O?RQ?DNep� H?W� RL@LRJNLRIMmp� L� oLQLEI?H� DOLEeFLRJ� ELOp�}?� RG|LEI� CL� N?DEGRmp� L� FK?KLEOe�MmRO?FJE?��H�?QBLoJRJ'�4L@m�DJR?U�TLORLRJ�O?RQ?DNp�LF�QLTGELH�NJ�eEI�}?DI�mC�G'

�4EmSOJS� HLBLOEGB� m� \DCJS� B?Te@�� B?DmSDIO?Q?� CLB?KeMmHeUEI�ELO?|�|?BDE?OmDEIp�KJOeCDEF?p�NGB~mKCmDEIp�oLCKJEJT@pCLHLoCmDEIp� CLDJRIDEF?p� NmKDEeNp� oBGHRJFmDEI� E?}?'� <mTI@m@p� C'NB'p� ELOGg� HE?� oLWJFp�}?o� FoJE?@e� F?\O?Fm� FJO?RUFLEJ� ?WmpFmKBmTeFLEJ�CmDp�FeHLp�L�N?Em@p�NBJF+\TLF�J�S?Q?�O?CGFm�K?�HF?DELpE\QCeEJ� N?� BLS?Cm�� 0LO� F?CJ� B?oR\EI� CG� EmRIOJ� T� CL�J@JN?FDELCM\@Jp�LRG�EG|�DF?f@e�FoJE?@e�FJK?FoeUEI�?Wmp�FmKBmTeUEICmDp�FGTeEI�K?�BLS?Ce�m�OL|eEIp�}?�MG�TB?oJRJ�N?FDELCMm'�0LON?DEeNLf� NmKDEeNCL� m�|?BDE?OL� KJW'� <� BLS?Cm� CG@Lf� Cm� ?KCmf�@?QJRJ� N?FDELCMmFp� H?W� TQJCeR?� �H� CG@LR?'� 0mRL� OJKLUEI� K?OLCLRmFp�B?TE\QLUEI�NDL@Jp�Lo?�DNLRUUEIp�}?o�CG�?DELF�DFmK?ODRLFJp� \O?Q?� F?CJ� ELO� o?\EID\'� _G� RJ�G� DEBmCeEI� @?QJROeN?FDELCM\p�B?TO?NeUEI���p�L�O?DEJ�TLoJBLUEI�CGFmK?@?�OeKJ'

:LOmCGMI� TLoBLF� m� \� DR?F?'� 7?TOLTeU� DEBmRIM\@p� \Oo?RI�GFJOJ� F� HJEBJS� DN?Dmo� TL@JRUUEI� DF?�� oLCKJEDIOmTR?WJCJ�NGBGK�DFmE?@'

.Z�DmWC\�qkZY�B'�?KJC�FmKKmR�<2��<mSDIOL�2?RIDIO?Q?��CLNLFCL�PLFLKOe�=?B?HmFDIOe�CL�/G@OmF}JCm'�2LRJRJ�DGR?�m�BmTLRJRUKGS'� <� E?S� WLD� @?\� NGB�L� m� KBeQL� W?EL� Q?DN?KLBUFLRJ� FPLQmB+Up�L�\�T�KF?@L�W?EL@J�m�T�o?�FO?U�4X��4Re|oL�XGTNGOJ�K'�beMeRL�Nm�?F�CLDEeN?@�CL�F?B?QL'�2?�NmFE?BJQ?KJCCm@�o?U@J� TFmRICJRJ� DGR?'� PK?oeRJ� @mC?@GEJp� OeRG@GEJ� S� mC':LDEeNC?Q?�KC\�F?B?Q�}G�BLT�CLDEeNLf�CL�DGR?�omRI�J@J�DJRL@Jm� FJBmTef� F� NGCI� FDmHp� HE?�|JF� F� DGRm'� XLQLE?� KmEGSp�|mC?OpDELBJOmF�*�oeRJ�|LHRJF?�N?BmTLCm�oLQCGEL@J'�PLOJ�\�NBJS�?FCL�?o?B?Ce�DGRLp�F?B?QL�F|G�CG�oeR?'

2B?�MG�FDG�\�DORLF�LOE�m�FJDRLF�CL�LKBGDe�?KCmf��B?KJCJ@?Q?� DEBmRIM\� K?�4a8'�<� QLTGEm� �4F?o?KL��N?\FJRLD\� DELEE\NB?� BmTCU� PLFLKOJ� =?B?HmFDIO?�'� 5� FmKN?FmKI� CL� MGo?RI�GFJMIOL� QLTGEL� F� 6LCLKm� �5OBL�CDIOG� 4R?F?�� NJ�G

Z.q

DNB?DEeFLCC\p�F�\O?@e��K?F?KJEI�p�}?�DGR?�FJBmTLRJ�N?FDELCMmBLT?@� T� 86jmDEL@J� �8B@m\�6BLS?FL�� T� DGRL�:fof}LC'�2?omWMI?Q?p�F�MmS�DL@mS� QLTGEm�f�B\K�RJDEmF�T�5747�K?�eOBL�CMmF�F8@GBJMmp� }?� �@� F� 5OBL�Cm� |JFGEID\� �BLKmDC?p� TL@?|CI?� m}LDRJF?�'�1WGFJKC?p�Mm�RJDEJ�~LoBJOeFLRJ�DL@m�GCOLFGKJDEJ'

<CGK?FTm�@GCm�N?}LDEJR?'�.n�RUE?Q?�qkZY�B'�F�D'�<?RJM\NmS@LRJ� KF?H� N?RIDIOJH� DELB�JC� EL� N+\EI?H� NmKDELB�JCp�}?�HLRJ� T� KF?@L� oLELRIS?CL@J� CJ}JEJ� D'� 2BJoJ�mF'� 4O?OFmKoeFD\� F� HFJRJCJp� O?RJ� N?RIDIOG� FmSDIO?� NB?�|K|LR?NmKF?KL@J'�<?B?Q�K?FmKLFD\�NB?�CL��CLDO?O�RJ�G�F�XeOmFDIOe'

.w�RUE?Q?�CLDOLOef�FmC�CL�CLD�F�D'�6L@+\CGp�LRG�E?@ep�}?CL�L�D?EC\�oeRL�F�O?@NRGOEmp�B?ToJFLf@?�F?B?QL�m�Q?CJ@?�S?Q?L|� K?�XeOmFDIOL'�2?WJCLf@?� B?oJEJ� DRmKDEF?'�2?B'�6eTI@L� mH?B'�:'� �CG� NBJQLKeU� D?om� S?Q?� NBmTFJ}L�� NBJTCLUEID\p�}?oBLRJ�eWLDEI� F�@?BKeFLCCm�CLDGRGCC\�PLFLKOJ�=?B?HmFDIO?�'<?CJ� ?N?FmKLUEI� K?ORLKC?� NB?� @?BKFJ'� 4L@� 6eTI@Lp� }?NBJS�?F�T�4447p�\O�o?RI�GFJMIOJS�DELB�JCLp�FJ�O?RUFLEJN?RIDIOe�LB@mUp�TLO?R?F�oLQCGE?@�qq�?Dmo'�PmTCLCC\�TR?WJCMmFFJNe}GC?�?OBG@?U�OCJ|GWO?U�CL�OmRIO?H�@?FLH'

XLQLE?�}G�KJDOeEeFLRJ�DEBmRIMmp�CLF?KJRJ�BGW?Fm�NBJORLKJ'=?|CL�oeR?�o�}G�oLQLE?�TLNJDLEJ'�2B?�TFmBDEFL�|��DELB�?Q?oBLEL��*� B?DmSDIO?Q?� CLB?Ke� oeKeEI� NJDLEJ� O?RJDI� E?@Jp� mHE?�TCLfp�WJ�FKLDEID\�TmoBLEJ�H?W�N?R?FJCe��H'

#�"�#�R�]%U�T�V

�6?@LCKJBG��6?@LCKJBGp�FDELFLSEGp�F?KL�TLRJFLf�oeCOGB��6?RJ�\�NmKFmFD\�CL�NBJWmp� N?oLWJFp�}?�F�oeCOGBm�NRLFLf

NmKR?QLp�L�CL�CmS�*�CL�m�W?o?EJ'�4CmQp�}?�DE?NJFD\p�CLB?oJFCL@�oLQLE?�RJHL'�1KCmfU�DEmC?U�eFmBFLRLD\�K?�oeCOGBe�F?KL'0BGoL� FJWGBNeFLEJp� FJC?DJEJ� ��p�}?o� CG� TL@?ORL� OLBE?NR\� m@eOLp� o?� E?Km� FDG� NB?NLR?'� <Dm� o?D?� DELf@?� RLCMUQ?@� L|�K?FJH?Ke'�<JWGBNef@?�F?Ke�m�FJRJFLf@?����CLKFmB'�PL�N+\EI�Q?KJCKe|G�CGNBJf@C?��B?o?EJ�e�F?Kmp�o?�R?@JEI�O?DEJp�@J�FJCGDRJNmFEJD\Wm�FmKGBp�L�DRmKep�}?o�@GC�LR?p�CG�FJKC?'�0BGoL��eOLEJmC�?Q?� DN?D?oe'� _|L�LCL@J� m� D?OJBL@J� DEBmRIMm� FJK?FoeUEIOLCLRJO�FTK?F|�EeCGRG@�L|�K?�N?E?Oe'�:L�N?ReKCG�CLDEeNC?Q?KC\�@J� oeRJ� T� B?o?E?U� Q?E?Fm'� <?Ke� DNeDEJRJ'�2GBGoJBLf@?TL@?ORe�OLBE?NRU�K?�@m�OmFp�eORLKLf@?�omR\�NGWmp�}?o�NmKD?HRL'

Z..

<�oeCOGBm�DELR?�F?QO?p�TJ@C?p�CGNBJFmEC?'�>T�DEmC�OLNLf�CLNBJWep�NB?@?OLf�DEGR\p�O?|CL�B?o?EL�TeNJCJRLDI'�=Lf@?�CLeOep}?�EBGoL�@LEJ�F�TLNLDm�CG�RJ�G�TomBCJO�CL�F?Kep�LRG�S�OLCLR'4EGRU�EBGoL�N?�K?�OLH�CLOBJFLEJ��NLN?U��Lo?�oR\H?U'�<DmDJK\EI� EGNGBp� NmK?oQLF�J� C?QJp� CL� NBJWLHp� N?CLOBJFLRJD\NLRLEOL@J�S�WGOLUEI�FGW?BLp�}?o�B?TNLRJEJ�F�NGWm'

<DG�@?f�@LSC?� m� TFmEJ� N?DORLKLCm� F��OmB\CmS� E?Bomp� \OeN?KLBeFLF�@GCm�OjB�0LBLDO?'�<?CL�DE?�EI�omR\�@?f��Q?R?FJp�}?oCL�FJNLK?O�F?B?|?Q?�CLDO?Oe�B\EeFLEJ�K?Oe@GCEJp�CG�TFL|LUWJCL�|JEE\p�o?�F�CJH�oeRJ�FL|RJFm�TFmEJp�mCDEBeOMm��EL�CLOLTJ'

<?KLp� NB?EmOLUWJ� OBmTI� DEGRUp� TL@?WeFLRL� CLDp� ?K\Q'�:LK?KLE?Op�OJCeRJD\�}G�S�F?�m'�X?RI�GFJMIOJS�N?B?�?O�NB?EJCJH�CG�Kmf'�7?oJ@?�T�NLRLE?O�NLBLFLC�m�E?Km�H?KJ@?�N?�WGBTm�CL�?oRLFe�'�6?|CJS�mT�DEBmRIMmF�DELBLfEID\�N?KLEJ�\OCLS@GC�GWJDR?��TCJ}GC?Q?�F?B?QL�'

5FGWGBm�NGBGO?Cef@?D\p�}?�F?�GS�CG�TCJ}J@?p�N?OJ�CGFJNLBJEID\� omRJTCe� EL� ?K\Q'� _?� ?KCmf�� N?B?|CI?�� o?WOJCLRJFLf@?�FmKB?�?OB?Nep�FOJKLf@?�B?TNGWGCG�F�NGWm�OL@mCC\�mCL� TB?oRGCG� CLK� F?K?U� BJ�EeFLCC\� ORLKG@?� omRJTCepCLOBJFLf@?� o?WOe� m� EBJ@Lf@?� ELO� .�� HFJRJC'�2mDR\� E?Q?�@JF|G�@LRJ�DN?OmS�T��F?B?Q?@��m��?oRLFL@J�'

���

P�WLD?@�N?DELRL�N?EBGoL��JEJ�?K\Qp�omRJTCe�m�FTeEE\'�:LMG�@LEGBm\R�F�CLD�oeF'

<mDE'� 0GE\CL� FWJEI� DEBmRIMmF� OB?�EJ� S� �JEJ� D?B?WOJpFmDE'�4mBJS�*�B?oJEJ�W?o?EJp�FmDE'�XeSCJS�*�DEBJQEJ'�=GCm|� NBJNLR?� N?B?EJ� DELBm��ELCJ� m� oRUTOep�}?o��JEJ� T� CJH@LBJCLBOJ�S��ELCJ'�<�oeCOGBm� FDG�CL@� DO?B?�NB?EJBLfEID\':L� KGOmRIOL� FGW?BmF� oeCOGB� T@mCJFD\� e� OBLFGMIOJS� FLBDELE'=J�@?QRJ�KLFLEJ�ELOe�B?o?Ee�CL�DGRLp�LRG�\�H?EmFp�}?o�DEBmRIMmDL@m�CLFWJRJD\�KLFLEJ�D?om�BLKe'

:GTLoLB?@�NBJEJD�@?B?T'�<�CL�?@e�EeCGRm�TL@GBTLRL�F?KL':L�DH?KLHp�\OJ@J�DH?KJR?D\�K?�OBJCJWOJp�N?\FJRJD\�QBeKJ�RI?Ke'

1KC?Q?�KC\�DE'�FmDE'�XLSKLO�Nm�?F�T�FmKBL@J�N?�F?Ke'�=JCeR?N+\EI�HFJRJCp�L�S?Q?�CG@Lf'�4EBmRIMm�SKeEI�QR\CeRJp�}?�DELR?D\':L��omKCJS�XLSKLWJDIO?p�TRLT\WJ�FK?RJCep�N?H?FTCeFD\�m�O?@mEIQ?R?F?U�N?RGEmF� L|� F� OBJCJMU'�0L@� FFGDI� DOeNLFD\p� L� EGNGBFJOBeWeFLF�?K\Qp�o?�FDEJKLFD\�FH?KJEJ�@?OBJS�K?�oeCOGBe'

Z.�

���

AE?�@Lf�QLBCm�DN?@JCJ�mT�DEeKGCEDIOJH�B?OmFp�T�LCKBm�FDIO?jQ?�FGW?BLp�E?S�CG�@?|G�TLoeEJ�S?Q?�m�F�NLBEJTLCDIO?@e�oeCOGBm'A?B'�=JB?C� @LF� DN?@JCJ� T� Qm@CLTm�� EL� mT� DEeKmS� EG?R?Qm�pFmDE'�0GE\CL�*�T�eWJE'�DG@JCLBm��F�6jm�EL�T�NmKNmRR\'�4EBmRIMmTC?Fe� N?jDF?f@e� TQLKeFLRJ� MGS� FGWmBp� \O� oeFLR?� F?CJTLoLFR\RJD\�F�DF?�H�DGRLH'�<�@GCG�EG|�TmoBLR?D\�oLQLE?�DN?@JCmFT� BmTCJH� B?OmF'� 0?@e� CG� KJFC?p�}?� @J� FDm� BLT?@� DELBLRJD\eNBJf@CJEJ�D?om�WLD�CL�LCKBm�FDIOJS�FGWmB'

2B?FmK�FGRLp�?WGFJKC?p�FmDE'�0GE\CL'�4EBmRIMmp�CG�TCLUWJ}G� FDmH� F?B?|op� oL|LRJp�}?o� F?CL� FJFGRL� O?|Ce� F?B?|oe'A?W� omRI�mDEI� T� CJH� F� EG� FDG� CG� FmBJRLp� LRG� ELOG� Fm}eFLCC\@LR?�CL�CJH�KG\OJS�FNRJF'

`O� EmRIOJ� TLFGW?BmR?p� WLDEJCL� F?\OmF� Nm�RL� CLK� oeCOGBp}?o�FCGDEJ�K?�HLEJ�KB?F�*�WJ�oeKeEI�N?RmCL�K?�NLBJp�WJ�Cm'6?@e�FJSKeEI�K?�NLBJp�E?S�MI?Q?�B?Oe�?|GCJEID\'�6?RJ�N?WLRJN?FGBELEJD\� KB?F?C?DJp� N?DELF� TLQLRICJS� D@mHp� o?� CLR?|JRJELOe� OeNe� KB?Fp�}?� FJDELWJR?� o� CL� KGOmRIOL� KCmF'�:mHE?� CGNBJTCLFD\p�O?@e�FJS�R?�K?�NLBJ'�<mDE'�0GE\CL�CLRJRL�F?KJ�FN?DeKJCep� E?NJEI� DFmWOep� o?�@J� CG�@LRJ� F?DOep� m� O?|C?@e� TWGBQJ�TRJFLfg�H?B'�=JB?C?Fm�FJS�RJ�NBLRmDJ�m�Q?BJp�W?E'�2LD?FmpFmDE'�<JH?B?Fmp�FmDE'�4mB?@e�*�EG�DL@G'�<mDE'�XeSC?@e�*�O?RJDOLm�@LRL�KJEJCL'�4E'�FmDE'�XLSKLO?Fm�*�@?QJRJ�S�HBGDEJ'�0GE\Cm*�FmC?O�m�@?QJRJp�DE'�FmDE'�7JoLRMm�*�F?�C�CL�O?Cmp�L�@GCm�*N?o?fFJ}G�S�?O?NJ'

0GNGB�T�WGBQJ�EBGE\�F?B?|oLg�F�@JDMmp�CLN?FCGCmS�F?K?UpCL�O?B?oMm�FmK�DmBCJOmF�NRLFLf�@LRGCIOL�DFmWOL'�6?|CJS�T�CLDCL� OBLU�@JDOJ� EBJ@Lf� NLNmBWJOp� CL� O?EB?@e� CLNJDLC?� m@+\KmFWJCJp� \Oe� FmC� oL|Lf� FT\EJ� TL� KBe|JCe'� 6?RJ� DFmWOLpNRLFLUWJp� NmKNRJFG� S� TLNLRJEI� NLNmBWJOp� E?� E?S� CLSDO?Bm�G?|GCJEID\�T�MmfU�|�KmFWJC?U'�0LO�N?FE?BUFLR?D\�KFL�BLTJgFGDmRR\�FJS�R?�FmDE'�XeSC?@e�EL�FmDE'�<JH?BGFmp�omRI�G�CmO?@e'

2mK��LNOe�FmDE'�0GE\CL�ORLKG�QBeKOe�QRJCJ��@?QJRL�p�FmC?O�FGDmRR\�p�NGBDEGCI� �TLBeWJCJ�� EL�MJQLBCJWOe� �DELBJS�NLBeo?O�'<JE\QLUWJ�ELO�TL�WGBQ?Up�FJS�R?g�H?B'�=JB?C?Fm�*�FmCGMIp�W?E'2LD?Fmp� FmDE'� <JH?BGFm� m� FmDE'�4mB?@e�*� QRJCLp� FmDE'� 0GE\Cm�*FmCGMIp�DE'�FmDE'�7JoLRMm�*�NGBDEGCIp�L�@GCm�*�MJQLBCJWOL'��GNmKH?NJRJ�DEBmRIMm�m�KLFLS�Em�JEJD\g�EL|�FJp�KBe|G�O?@LCKJBGp

Z.Z

@eDJEG�CLNGBGK�CLD�N?|GCJEJp�L�E?Km�@J�oeKG@?�Ke@LEJ�NB?�FLD'bRJCL�KG}?�TLD@eEJRL�DEBmRIMmF'��G�|�oeRL�EBmSOLp�}?�N?DEmSC?H?KJRL�CL�B?TFmKOe'�X?S?F?�TmQBLCm�HR?NMm�N?Em�LRJ�?KJC�?KC?Q?g�0L�o?KLS�CG�|LRIp�}?�FDm�EBJ�BLT?@'�`O�CL@�NBJSKGEID\�FNLDEJpE?� ��OBGoCG@?��O?|CJS�N?�OmRIOL�o?RI�GFJOmF�'�A?B'�=JB?CBLKmFp�}?�S?@e�FJS�?F�FmCGMIp�@?|Gp�DNBLFKm�eD@mHCGEID\�}LDE\'<mC�@Bm\F�NB?�Eep�\OmS�EG�DL@G�N?OLTLR?D\'

7?ToLFRGCm� DEBmRIMm�|LBEeUEI� NmTC?� F� CmW'� <mDE'� 0GE\CL?N?FmKLf� NB?� mC�m� F?B?|oJp� CLNBJORLKp� NB?� EGp� \O� KmFWLELNGBGF+\TeUEI� CJEOe� WGBGT� DEG|Oep� \O?U� CLSWLDEm�G� H?KJEI@JRJS'�6?RJ�FmC�NGBGBFG�CJEOep�mKeWJ�DEG|O?Up�E?�?|GCJEID\T� CGU'�1o?F+\TO?F?�@eDmRL� FmDE'� 0GE\CL�*�CL� NB?HLCC\� FDmHDEBmRIMmF�*�}G� N?F?B?|JEJ� FDm@� CL� OLBELH'� PL� F?B?|oe� CGFmRIC?�K\OeFLEJp�o?�E?Kmp�}?�K?oBGp�CG�TKmSDCJEID\'

���

dJELWp� }?� CG� oBLF� eWLDEJ� e� FJTF?RIC?jBGF?RUMmSCmSo?B?EIom� NmK� o?RI�GFJMIO?U� KmSDCmDEUp� CLNGFC?� N?Ke@Lfg� �>}?�|p�TRG� �@�oeR?��bLBCG�oeR?�|JEE\p�FGDGRGp�NBJQ?KJp�L�\OWLD?@�CGoGTNGOL�*�E?�EBeKC?�'

:mp�K?B?QJS�WJELWep�ELO�F?C?�CG�oeR?'�2BLFKLp�oeRJ�FGDGRmKCmp�o?�@J�DL@m�DELBLRJD\�B?oJEJ��H�FGDGRJ@Jp�}?o�CG�QR\KmEJTLF|KJ�F�|?BDE?Oe�KmSDCmDEIp�\OL�CGBF?F?�m�~mTJWC?�FJWGBNeFLRLCLD�FDmH'�:LFmEI�F�MU�HFJRJCep�O?RJ�@J�oeRJ�CLSomRI��FGDGRmpELOJ�HE?DI�CLDReHeFLFp�NGBGBJFLF�D@mH�Lo?�B?T@?Fe�DJQCLR?@�MJEI�'�<Dm�FmKBLTe�@?FORJp�L�\O�CL�oeCOGBm�oeR?�WeEJ�NmK?TBmRJSDEeOmEp�HLNLRJ�TL�ToB?U�S�?oGBG|C?�NmKH?KJRJ�K?�FmOL�m�@mC'

���

8CKBm�FDIOL� CmW� MmReFLRL� NBJ@OCGCm� ?Wm� N?FDELCMmFp�}?RG|LRJ�CL�K?�OLH�NBJWm'�2mK�TG@RGUp�F�oeCOGBm'

2BJS�?F� BLC?O'� 2mKmS@LUEID\� KBeTm� ?KJC� TL� ?KCJ@p� mO?|CJS� B?TOLTef� NB?� DFmS� D?Cg� H?B'�=JB?C?Fmp� W?E'�2LD?FmpFmDE'� <JH?B?Fm� m� FmDE'� 4mB?@e� NBJDCJRJD\� ELOm� |� DCJg� We|mOBL�CJp�FGRJOm�RmDJp�Q?BJp�BmOJ�m�O?BK?CJ'�<mDE'�0GE\Cm�NBJDCJFD\KJFCJS� D?Cg� oeRL� FGRJOLp� ?DmCC\� HeBE?FJCL'� :L��JB?O?@epBmFC?@e�N?Rm�TR?Fm}?��e@mRL�DeHL�EBLFL'�<?CL�S�RL�F�NmEI@eC?Wm'�2GBGK�D?o?U��eOLRL�EmCm�F?B?QLp�}?�WJQLf�F�TLDmKMm�CL

Z.[

|JEE\�RUKGS'�2B?S�?F�J�N?RGp� RmD� m� TC?Fe�N?RGp�NB\@ef�K?DGRL'�<�BeOLH�EBJ@Lf�NmDE?RU'�<�DGRm�TeDEBmRL�DF?U�KF?UBmKCeDGDEBep�}?����CG�oLWJRL�K?FQm�B?OJ'�9S�F?CL�B?TN?FmRL�NB?�E?SFmC?Op�}?�N?OLTLFD\��S�T�F?DOe�F�LCKBm�FDIOJS�FGWmB'�<?CJ�K?FQ?Q?F?BJRJ� NB?� FmC?O� m� BLKmRJ� D?o?U'�4GDEBL� B?TOLTeFLRL� NB?TCG@?|GC?Q?� oLEIOL'� <mC� Ee|JEI� m� NRLWG� TL� 0GE\C?UpoRLQ?DR?FJEI� ��� EBeK� EL� o?B?EIoe'�=Bmf� FmELEJ� ��� e� FmRICmS5OBL�Cm'''�<?CJ�}G�K?FQ?�Q?F?BJRJ'

1NmDR\�FJH?KJEI�T�HLEJp�FmEGB�|LRmDC?�QeKG�F�DLKLHp�TL@mELfN?|?FORG�RJDE\�CL�K?B?QLH'�:L�N?Rm�DFJDEmRJ�S��e@mRJ�DEGBCm'<Em@� CL��R\He� N?oLWJRL� NGBGK� D?o?U� OBJFLFJS� RJDE?Op�}?NBJNLF�K?�TG@Rm'�<?CL�N?omQRL�R?FJEJ�S?Q?p�L�FmCp�TL@mCJF�JDIF� TmBOep� DELF� NmKmS@LEJD\� FQ?Be'� /?FJEI� S?Q?� BeOL@Jp� L� FmCT@mCUfEID\�e�F?QCJDEe�QBLCIp�CGCLWG�oRJDOeWJS�OBJ�ELR�RI?KepS�F?QCJDE?U�OeRGU�NLKLf�CL�TG@RU'�<?CL�F�B?TQ?Cm�CLDE?RJWJRL���C?Q?U'��\�mDO?BOL�ELO�TLNGORL���p�}?�F?CL�ToeKJRLD\'

�GS� KJFCJS� D?C� DReHLRJ� FDm� T� CGDN?O?f@'� 4EBmRIMmTLKe@LRJDI'��G�CL�CG�� N?QLC?�N?Km\R?p� LRGp� FDELF�J�CL�BmFCmC?QJp� N?WLRL� H?KJEJ� W?EJBJ� OB?OJ� EeKJ� S� CLTLK'� <mKELOpNmKC\F�J� NB\@?� Q?R?Fep� DF?�@J� B?Te@CJ@Jp� OLBJ@J� ?WJ@LQR\CeF�J�CL�DEBmRIMmFp�NJELfg��8�FJ�W?Q?�ELO�TLKe@LRJDI��4?C*�@LBL'��G�NBLF?�C?Wm'�1DI�}?�CLSFL|RJFm�Gg�Cm}?�CG�DNJCJEI|JEE\p�O?RJ�F?C?�SKG�F�o?B?EIom�TL�BmKCe�TG@RUp�TL�UCJS�DNmFpTL�eD@mH�KJE\WJSp�TL�CL�m�OBJRLEm�KCmp�TL�}LDE\�5OBL�CJ�'

���

PomBOL� K?� BLCCI?�� @?RJEFJ�� <� RLFm� DE?\RJ� DEBmRIMm'dGBF?CJ@� DFmER?@� Q?BmRL� R\@NL'� bReH?� EL� WLBmFC?� NB?H?KJRL@?RJEFL�eOBL�CDIO?Q?�BGF?RUMm?CGBL'

VY%"��YUV�� �YU\�$

6?RJ� RUKJCL� DJKJEI� F� oeCOGBm� TJ@?U� oGTWJCC?p� KCmFJKLUEID\�K?FQmp�CeKCm�S�EBJF?|Cm'�:LE?@mDEI�NBJ�NBLMm�NRJFeEIF?CJ� CGN?@mEC?'� /UKJCL� TLoeFLf� E?Km� NB?� KmSDCmDEIp� DELfDN?OmSCm�Lp�TBmFC?FL|GCL�m�FK?F?RGCL'

PFJWLSC?� K?� N?ReKC\�NBLM\�NmK� TG@RGU�NB?H?KJEI� RGQO?'2?N?ReKCmp�T?OBG@L�NmDR\��|m�*�FCLDRmK?O�oBLOe�WJDE?Q?�N?FmEB\

Z.Y

*�RUKJCL�N?WeFLfEID\�?DRLoRGC?U'�0BeKCm�G�DORG�EJ�Ke@Oe'

<FGWGBmp�O?RJ�TmSKG�DEmSO?FJSp�DELf�FGDGRm�G�m�NBLM\�CLoJBLf

�FJK�?Q?�EG@Ne'�:L�MG�FNRJFLf�NGFCmDEI�DGoGp�}?�F|G�DI?Q?KCm

CG�oeKG�CLDO?Oe'

<KGCI�EBGoL�WLDE?�FJH?KJEJ�CLFGBHp�}?o�KJHCeEJ�DFm|J@

N?FmEB\@p�N?WeEJ�KG}?�FmK�DEmSO?F?Q?�EL�DL@?@e�CLDReHLEJ'

1OBG@L�EG@L�*�FmKQLKeFLCC\p�\OL�oeKG�TJ@L'�0LOm�NJELCC\

NmTC?U�?DmCCU� m�CL�N?WLEOe�TJ@J�TLF|KJ�DELFR\EI�N?FDELCMm

DELBJ@�DGR\CL@p�\Om�@LUEI�CL�MG�DF?��N?\DCGCC\'�`O}?��J�OJ

CL�FGBHLH�\RJMIp�E?�TJ@L�oeKG�DJRICLp�NBJ�OmCMm�*��TLFLRJDEL�t

O?RJ�CL�DGBGKJCm�*�oeKG�@?B?TCJS�DmWGCIt�\O�CL�K?Rm�*�DJRICL

TL@GEmRI� CL� N?WLEOe� TJ@J'� `O}?� NmTC?U� ?DmCCU� oLQLE?

NmKNGCIOmFp� E?� oeKG� RGQOL� TJ@L'� 6?RJ� NmKNGCIOJ� N?\FR\EID\

FWLDC?U�?DmCCUp�oeKG�DeF?BL�m�BLCC\�TJ@L'

6?RJ�FNLKeEI�DCmQJp�FL|O?�N?DJRLEJ�DEBmRIMmF�CL�B?TFmKOe

K?�DGRL'�<?B?Q�@?|G�N?�DRmKLH�NBJSEJ�L|�K?�oeCOGBe'�0eQL�TL

RUKI@Jp�TL�C?FJCL@Jp�TL�B?TFmKO?U�NBJCGF?RUf�DEBmRIMmF�WLDE?

oLRLOLEJp�O?RJ�CLBG�Em�oeKG��N?NeDO�'�<�MI?@e�N?FDELCMm�K?oBG

?BmfCEeFLRJDI'�1DIp�CLNBJORLKp�F�CLDp�O?RJ�QeKmF��1B?FJS��*

MG� Fm}eFLR?p�}?� DCmQ� CG� oeKG� E?NJEJD\p�}?� NBJSKG� @?B?T� m

FmEGB�mT�DCmQ?@'�6?RJ��e@mF��4E?RGMI�p�oeKG�T@mCL'�0?Km��e@R\EI

N?E?OJp�DCmQ�W?BCmfp�L�NmK�\RJWOL@J�O?R?@�B?TE?NRUfEID\�DCmQ'

`O�N?oLWJ@?�\DCJS�DCmQp�L|�FL|O?�CL�CI?Q?�KJFJEJD\p�m�DCmQeBm

DNmFLUEI�De@C?�*�MmCIjDmCIp�MmCIjDmCI�*�MG�?TCLWLfp�}?�DO?B?

oeKG�NLKLEJ�DCmQ'�6?RJ�DCmQeBm�DNmFLUEI�*�MmCIjDmCIp�MmCIjDmCIp

?o?F+\TO?F?�oeKG�EGNR?'�<?CJ�E?Km�@GC�G�TFJFLUEID\�TL��|GUp

CG� DOLWeEI� NmK� C?QJ� DEmSO?F?@e'� :G� K?OeWLf� �@� H?R?K� m� CG

EBJF?|JEI�CGoGTNGOLp�}?�CG�oeKG�}?��DEJp�O?RJ�FNLKG�DCmQ'

���

_GCI�4F\E?Q?�=JO?RJ� TLF|KJ� CLQLKef� KLFCmjKLFCmp� UCm

B?OJ'�:L�L�EBmSOLp�FmDE'�0GE\CLp�H?B'�=JB?C�m�\p�Emp�HE?�TLTCLRJ

DEeKGCEDIOJH�WLDmFp�TQLKeFLRJ�@JO?RL�FDIOJS�FGWmB�N?jDF?f@e'

:L�m�KBeTmjF?\OJ�*�TC?Fe�N?jDF?f@e'�_R\�CLD�DF\Ej@JO?RL�Fj

Z.n

DIOJS� FGWmB� oeF� EBLKJMmSCJSp� O?RJ� @J� H?KJRJ� K?� DGBGKCI?��O?RJ'�6?RJDIp�}G�eWC\@Jp�F�QeBEm�DF?�H��OmRICJH�E?FLBJ�mF@J�m�RJ�CL�EBLKJMmSCJS�@JO?RL�FDIOJS�FGWmBp�}?o�EL@�CG�RJ�GKmDELEJ�CGFGRJWOJS�N?KLBeC?Op�LRG�}?o�DGBGK�BLK?}mFp�D@mHe�m|LBEmF�NB?FGDEJ�WLD'

:L�m� KBeTmjDEBmRIMm� TQLKeUEI� ELO?|� DF\Ej@JO?RL�FDIOJSFGWmB�e�DF?�H�BmKCJH�DGRLHp�WJELRIC\H��2B?DFmEJ�p�}?�NBJC?DJF�@�FK?F?RGCC\�T� DL@?�� FJDELFJ�omRI�Gp�Cm|�T�N?KLBeCOmFp� \OmF?CJ�KmDELRJ�E?Q?�FGW?BL'

�G�oeR?�@JCeRGp�L�EGNGB�|?BDE?OL�BGF?RUMmSCL�KmSDCmDEI':L�JH�DEBmRIMmF�TLNB?�eFLRJ�TCLS?@m�KmFWLELp�}?o�F?CJ

FJS�RJ� T� RmDe� N?� N?KLBeCOJ'�8RG� EFGBKJS� TLO?C� O?CDNmBLMm�TLo?B?C\F'�<?B?Q�DRmKOeFLF�TL�EJ@p�WJ�CG�N?\FR\EID\�N?FDELCMmpo?� E?Km� TCLEJ@Gp�}?� KGDI� CGKLRGO?� F?CJ� TJ@eUEI'� 0?@e� K?DGRL�TLH?KJRJ�EmRIOJ�F�Ke|G�FL|RJFJH�DNBLFLH'

�?o� MGS� KGCI� oeF� KR\� DEBmRIMmF� FGDGRJSp� FmDE'� 0GE\CLTLNB?N?CeFLRLp�}?o�KR\�DEBmRIMmF�@J�NBJQ?E?FJRJ�@JO?RL�FDIOmN?KLBeCOJ'�6?RJ�F?CJ�R\QLUEI�DNLEJp�@J�CmoJE?�}G�FJOmCWeFLRJOLCMGR\BmSCe�B?o?Ee�S�DJKJ@?�KLRm'�:L�TLFLKm�CL@�KJ|eBCJS'2B?F?BCL�FmDE'�0GE\CLp�@?FR\F�F?CL�H?WG�CJCm�@JEJD\p�OL|Gp}?�DI?Q?KCm�F?CL�oeKG�KJ|eBCL'

4EBmRIMm�DNR\EI'�4E'�FmDE'�XLSKLO�F|G�OBmTI�D?C�Q?F?BJEINB?�DFmS�TLFEBm�CmS�KJ|eB'�V?@e�TLF|KJ�NBJOeBUFLRLD\�OL�LLo?�TeNLp�S�FmC�OBmTI�D?C�FJBLTC?�Q?F?BJEIg��OL�L'''�OL�L'''�\OEL�OL�L'''�E?�f�Ke|G�K?oBL�OL�L'''�

<TLQLRmp� O?RJ� DEBmRIMm� DNLRJp� @?|CL� oeR?� WLDE?� WeEJEBJF?|Cm�?ORJOJg��1Hp�?H'''�?H��oJS��DEBmR\S��6JKLS��BLCLEJ���G� DEBmRIM\@� DCJRJD\� N?QLCm� DCJp� o?�� T� F?B?QL@Jp� CLDO?Op?oRLFJ'�>�CG�KJF?p�OmRIOLBmWCG�CLNBe|GCC\�o?B?EIoJ�FJWGBNLR?CLD�CGBF?F?�ELOp�}?�M\�EBJF?QL��eFmS�RL�F�OB?F�m�CGBFJ'�/UKJCLpH?W�F|G�DNLRLp�CG�@LRL�DN?O?U'�0L�WJ�HE?�B?Te@mf�CLD�T�EJHpHE?�|JFeEI�CL�F?RIC?@e�DFmEm��dJ�TKLFLEJ@eEI�D?om�DNBLFep�WJTe@mUEI�o?KLS�F�@LRmS�WLDEJCm�eDFmK?@JEJ�CL�e�KmSDCmDEI�

<�EF?Bm�0eB\CDIO?Q?��2?TL�@G|L@J�o?RU��FJH?KJEI�CL�NGB�JS

NR\C�NB?oRG@L�Q?R?Ke'�XmRI�MGS�DEBL�CJSp�LRG�CL�EGp�}?o�CG�T+�KLEJ

Z.w

RUKJCep�f�BLKL�*�OeR\�F�R?o'�>�@?|CL�EFGBKJEJp�}?�F�N?DELEGS0eB\CDIO?Q?�CLSDEBL�Cm�JS�oeF�DEBLH�NGBGK�D@GBEU'

<� CL�?@e�|JEEm� CGoGTNGO� f� KGD\EOJ� omRI�Gp� \O� D@GBEI'2?FDELCMm�o?\EID\p�}?o�CG�FNLDEJ�|JFJ@�F�BeOJ�F?B?QL'�A?WG@?|JEJ�CL� EGp�}?o�NB?K?F|JEJ�o?B?EIoe� EL� K?F�G�NBLMUFLEJKR\�5OBL�CJ'

XL|LUWJ� DEBmRIM\@� KLEJ� FmKNBe|GCC\p� Q?Eef@?� KR\� CJH@JO?RL�FDIOm� KLBeCOJ'� <mDE'� 0GE\CL� NGWG� @JO?RLSWJOJ� mNL@Ne�OJ'�`�TL�MGS�WLD�NJ�e�KR\�O?|C?Q?�DEBmRIM\�RJDEJ��FmKDF'�=JO?RL\��e�~?B@m�FmB�mF'�A?B'�=JB?C�BmFC?�|�}?DI�TLNJDef'6?RJ� B?o?EL� oeRL� TLOmCWGCLp� NLOeC?WOJ� T� BmTOL@J�S� RJDEL@JNBJQ?E?FLCmp� FmDE'� 0GE\CL� Nm�RL� CLK� oeCOGB� N?B?TFm�eFLEJ� �HK?DJEI�FJD?O?�CL�\RJWOLHp�}?o�O?|CJS�TLFEBL�BLC?�CL@eWJFD\K?F?Rmp�TLOJ�S?Q?�TKmS@G'�2LKLF�RGQGCIOJS�DCmQ�m�TL@LUFLF�omRJ@NeH?@�\RJWOe�T�@JO?RL�FDIOJ@J�N?KLBeCOL@J'

<mKH?K\WJ�DNLEJp�FmDE'�0GE\CL�NB?DJRL�CLD�CG�QCmFLEJD\p�O?RJF?CL�TLFEBL�oeKG�oGT�CLDEB?U'��G�CLD�TKJFeFLR?'�<?CL�N?\DCJRL'

*�PLFEBL�m@GCJCJ�@?Q?�oLEIOL'�=LEeD\�@?\�N?@GBRLp�O?RJ\� @LRL� � W?EJBJ� B?OJ'� XLEIO?� oeF� KR\� @GCG� FDm@'� <mC� @GCGoGT@G|C?�RUoJF'�6?RJ�\�NmKB?DRLp�NmDRLF�@GCG�F��O?Re'�<K?@LF� CLD� oeRJ� TRJKCm'� 1DELCCmS� QBm�p� \OJS� EmRIOJ� oLEIO?� @LFpm�?F� CL� EGp�}?o� \� TLOmCWJRL� FWJEGRIDIOe� DG@mCLBmU'� `� H?WeMGS� KGCI�NBJDF\EJEJ� DF?f@e�oLEIO?Fmp� o?� TCLUp�}?� FmC� oeKGFGDI�WLD�EmRIOJ�Ke@LEJ�NB?�@GCG'�̀ �K?�oLEIOL�FmKWeFLU�oGT@G|CeRUo?F�m�FK\WCL�S?@e�TL�EGp�}?�FJH?FLF�@GCGp�KLF�?DFmEep�CLFWJFRUoJEJ�5OBL�Ce�QLB\WJ@�RG@OmFDIOJ@�DGBMG@'�6?RJ�\�S�RL�FN?FDELCMmp�FmC�oRLQ?DR?FJF�@GCG�m�OLTLFg��:mO?RJ�CLTLKp�L�TLF|KJFNGBGKp�H?W�@?|G�m�FNLDEJ�EBGoL�oeKG��

6?RJ�FmDE'�0GE\CL�Nm�RL�DNLEJp�@J�}G�KR\�CG��NBJQ?E?FJRJN?KLBeC?O'�:L�TLFEBL�FDG�oeR?�Q?E?FG'

:L�DFmELCOe�TWJCJFD\�F�oeCOGBm�BeHg��=JO?RLS�oeF�e�CLDp=JO?RLS���A?B'�=JB?C�TBJFLfEID\�CL�BmFCm�C?QJ�*�FmC�e�CLDCLSomRI��N?o?|CJS�*�m�N?WJCLf�DNmFLEJg��1p�HE?p�HE?�=JO?RL\RUoJEI��p�L�@J�FDm�TL�CJ@�E\QCG@?�H?B?@'

0BGoL� oeR?� oLWJEJp� \O� DELBm� KmEJ� KGBRJD\� N?� \RJWOLHpOJKLRJD\� K?� NLOeCOmF� EL� T� FGRJOJ@� TLMmOLFRGCC\@� B?TNLj

Z.k

O?FeFLRJ� �H'� /JDEJp� }?� FJDmRJ� omR\� BmT?Op� O?|CJS� H?FLFCGTL@mEC?� K?� OJ�GCmp� Ke@LUWJp� }?� EL@� KR\� CI?Q?� oLQLE?CGDN?KmFLC?Op�\Om�@?|eEI�FJORJOLEJ�D@mH�@m|�DEBmRIM\@J'

1KCL� EmRIOJ� FmDE'� 0GE\CL� CG� SKG� CL� oeCOGBp� o?� D?omNLOeCOL�CG�TB?oJRL'�<?CL�BLKLp�}?�FDm�FK?F?RGCmp�S�Em�JEID\'<Em@� NBJH?K\EI� DEBmRIMm� S� NJELUEIp� W?@e� F?CL� CG� SKG� N?DFmS� NLOeC?O'� <?CJ� oeRJ� o� S?Q?� NBJCGDRJp� LRG� FmC� ELOFJD?O?� NBJNC\EJSp� }?� HmoL� @eDJEI� NBJDELFR\EJ� KBLoJCe'<mDE'�0GE\CL�FJomQLf�DO?B?�CLFGBH�m�oGT�EBeKe�FJRLTJEI�CL\RJWOe�EL�TCm@Lf�NLOeC?O'�<?CL�BLKLp�}?�NB?�CG��CG�TLoeFDF'�=JO?RLS'

6Bm@� NL@Ne�OmF� m� � EmDEGW?Op� @J� TCLS�RJ� F� NLOGEm� }GMeOGBOJ�m��?O?R\Ke'��G�CLD�Ke|G�TKJFeFLR?p�o?�TFmKOJ�F?C?EeE� FT\R?D\'� dJ\� |� MG� B?o?EL�� *� NJELUEI� DEBmRIMmpN?oLWJF�J�F�K?KLEOe�MJQLBOJ'�P�OeBGCC\@�F�CLD�oeR?�Ke|GOBeE?'�d?E'�2LD�OL|Gg

*�4F'�=JO?RLS�TLOeNJF�MG�F�CL�mS�O??NGBLEJFm��0LC\�'�4E'�FmDE'�XLSKLO�NGBGoJFLfg*��G�B?o?EL�8ER\CEJOL'8�H?B'�=JB?Cg*��G�B?o?EL�0GELCmOL'0LO�@J�FDm�CLTJFLRJ�FmDE'�0GE\Ce'�<�K?KLEOe����N?KBeQJ

ORJOLRJ��0LCIWJO�p�L�KBeTm�F�5OBL�Cm�CLTJFLRJ� ����dmWLCL�pE?@e�}?�F?CL�QLBCL'�8RG�MG�NDGFK?�oeR?�KR\�CG��CLSomRI�KBLTRJFG'� <?CL� CmO?RJ� CG� RUoJRL� Q?F?BJEJ� NB?� DGoG� S� CGRUoJRLp�}?o�HE?DI�NB?�CG��Q?F?BJFp�H?W�TL�D?o?U�@LRL�oLQLE?FmKFL|CJH�WJCmFp� O?RJ�oeRL�B?TFmKCJO?@�F�528p� L�NmTCm�G*�CL�EGBGC?FmS�B?o?Em�CL�/G@OmF}JCm'

PLQLKOe� T� �?O?R\K?U� m� MJQLBOL@J� @J� CGTLoLB?@B?TF+\TLRJ'��G� NGBGK� NBJH?K?@� K?� oeCOGBe� FmDE'� 0GE\CLKmDELRL� FmK� TCLS?@JH� MeOGBOJ� m� �?O?R\Kep� DL@L� CLOeNJRLMJQLB?O'�<?CL�FDG�MG�NBJCGDRL�T�D?o?U�K?�oeCOGBe�m�TLH?FLRLELOp�}?o�CmHE?�CG�TCLF'��?SC?�CL�DF'�=JO?RL\�FR?|JRL�K?@JO?RL�FDIOJH� N?KLBeCOmF'� �GS� FWJC?O� QLBC?� FNRJCeF� CLCL��CLDEBmS'�:G�KJF?p�}?�FDm�DEBmRIMm����RUoJRJ�m�N?FL|LRJ'

0GNGB� O?|CJS� N?� WGBTm� @eDmF� Q?R?DC?� WJELEJ� �RJDEJFmK�DF'�=JO?RL\�'�<mKoeFLR?D\�MG�DGBGK�BLK?DEJ�m�D@mHep�o?CG�?KJC�DELBLFD\�KG\Om�@mDM\�NB?NeDEJEJp�LRG�MG�S?@e�CG

Z��

FKLFLR?D\'�<mDE'�<JH?B�K?@LQLFD\�FmKWJEeFLEJ�FDG�K?ORLKC?'5� FmB�LH� K?� CI?Q?p� FmDE'� XeSC?Q?� m� FmDE'� 4mB?Q?� oeRJFJWJDRGCm� �HCm� HJoJ'� �G� H?B'� =JB?C� DELBLFD\� CL� CJHFNRJCeEJ'� PBG�E?Up� FmC� T� EJ@� CL@mB?@� FT\F� �H� FTLQLRm� K?DF?Q?�oeCOGBep�}?o�NGBGFJH?FLEJ'

4OmCWJRJDI�CL�m��WEGCm\�'�6?|CJS�KmDELF�DF?f'�XeR?�FGDGR?S�QL@mBC?'

1KCL�EmRIOJ�FmDE'�0GE\CL�DJKmRL�F�OeEOe�De@CL�S�CmW?Q?�CGQ?F?BJRL'

���

A?B'�=JB?C� ?N?FmKLf� DEBmRIM\@p� TFmKOJ� FT\RLDI� F� CLDEBLKJMm\� DF'�=JO?RL\'� `� FOLTeU� CL� FJH?FCG� TCLWGCC\� DF\Ej@JO?RL�FDIO?Q?�FGW?BL�KR\�KmEGS�m�@?R?Km'�2GBGOLTLF�ELO?|p�\OELOm� FGW?BJ� FmKoeFLRJD\� NmK� WLD� NLCeFLCC\�2?RI}m'�4EBmRIMmTLFGRJ�QeEmBOe'�9H�NGBGKeDm@�MmOLFJR?�EGp�}?�EGNGB�B?oJEI�CL�L@?R?KI'

UT#��^TUV� `��"V

� :LSNBJf@Cm�L� HFJRJCL� F� oeCOGBmp� MG� O?RJ� DEmSO?FJSTQ?R?�efp�}?� F|G� FGWmB'� 0?Km� O?|CJS� DELFLF� DN?OmSCm�JSpTCm@LF� T� DGoG� ?oRLK?FLCJS� L@eCmMmfU� m� �BLCLEL@J� N?\DpNGBGWJ}eFLF� ToB?U'�A?W�@J� CG� oeRJ�@BmSCJOL@Jp� LRG� mC?KmoeFLR?p�}?�FDm�TL@?FOLRJp�E?CeRJ�F�Ke@OLHp�\O�@LRm�KmEJp�O?RJDReHLUEI�OLT?O'�0?Km�FmKN?WJFLRJ�CGBFJp�DN?OmSC?�oJR?D\�DGBMGp?C?FRUFLRLDI�Ke�L'

<mK�KG\O?Q?�WLDe�N?WLRJ�FmKFmKeFLEJ�CLD�NDJ'�PLCUHLRJ�F\@m�O?DEm�m�}?KGCC?�FmKFmKeUEI�CL��oeCOGB'�PB?oJRJ�F|G�ELOeDEG|Oep�}?�@?|G�TFGBCeEJ�eFLQe�F?B?Q'�A?B'�=JB?C�NGWG��CJMRmpT@m�LCm� mT� DOR?@p� EL� MG� CG� N?@LQLR?'�2DJ� NGBGDELRJ� oBGHLEJWJDEJ@�Q?R?D?@p�N?HBJNRJp�\O�DFLHJ�CL�FGDmRRU'�4EBmRIMm�T�MI?Q?NBJF?Ke� |LBEeFLRJ� T� OjBL� =JB?CLp� }?p� FQ?}LUWJ� NDmF�CJMGR\@Jp�}G�omRI�G��H�NBJCLKJF'�<mDE'�<JH?B�T�KB?Ee�B?oJEIDJRIMGp�CL�\OG�KmSDC?�BLT�TR?FJFD\�NGDp�LRG�BLT?@�T�DJRIMG@�mo?WmRO?Up�K?�\O?��oeR?�NBJF+\TLCG�DJRIMGp�FEmO�L|�CL��4JMJRmU�'PL�D?o?U�TLRJ�JF�EmRIOJ�DRmK�ELOJSp�\OoJ��HLF�EBLOE?B'�X?WOLFKLB\RL�NDL�m�KeKCmRLp�K?KLUWJ�S?@e�}G�omRI�?Q?�DEBLHe'

<DRmK� TL� NDL@J� N?WLRJ� NBJH?KJEJ� K?� CLD� F?FOJ'� 4E?�EI

Z�q

DEmSO?FJS� CL� DEmSMmp� L|� EeE� OmRIOL� DmB?@LCMmF� N?DELFLRJ� ELKJFR\EID\�CL�CI?Q?'�4EBmR\EJ�CG� FmRIC?p� OBJWLEJ�*� EG� DL@G'2eDEJFD\� FmC� mEJ� K?� CJHp� L� F?CJ� EmRIOJ� TeoL@J� ORLMLUEI'XRJDCeRJ�?WJ@L�m�Nm�RJ�F�RmD'

8RG�CLSomRI��CGoL|LCJ@J�KR\�CLD�DeDmKL@J�DELRJ�OBJORJFmD?SOJ'�0mRIOJ�HE?�FJSKG�T�oeCOGBep�L�F?CJ�BGNGEeUEI�F�BmTCmQ?R?DJ'� ALS� N?WeUEI� o?RI�GFJOJ� MGS� OBJOp� E?� S� oGT� DRmKmFNBJSKeEI� NB\@?� K?� CLD'� 6JCGEG� TL� CJ@J� N?RmC?@p� E?� F?CJFmKRGE\EI� CL� OmRIOL� KGBGF� KLRm� m� OBJWLEI� Q?KJCL@J'��?o� �HTLDN?O?�EJp� @J� CLDJNLRJ� �@� o?oep� m� F?CJp� CL�F�JDI� K?DH?WepDJKmRJ� EJH?'

���

1KC?Q?�BLTe�FFGW?Bmp�O?RJ�@J�DJKmRJ�NBJ�DF?�S�B?o?Emp�CLoeCOGBm�}?DI�ELO�TLKeKCmR?p�}?�L|�QRJCL�N?DJNLRLDI� mT�DEmC'�X?RI�GFJOJ�p�*�N?Ke@LRJ�@J�EL�FH?NJRJ�TL�ToB?U'�1KCm�*K?�FJH?Kep�mC�m�*�K?�FH?Ke'

2mKDReHef@?g� CL� oeCOGBm�}G� omRI�G� KeKCJEI'�2BJ� E?@eWeEJ�NJDOp�OFmO�m�~?BOLCC\'��G�CG�o?RI�GFJOJp�L�KJOJ'�<?CJ�FRUEe� TL@GEmRI� TLQCLRJD\� CL� CL�� oeCOGBp� KmBFLRJD\� F?R?F?��JCOJ� TjCLK� O?@JCL� m� �@LEeFLRJ� ��p� |GBeWJDI� @m|� D?o?U'<mDE'� 0GE\CL� NGB�L� DO?WJRL� @m|� CJH� T� NmDE?RGUp� LRG� F?CJCGBLK?�RJ�JRJ�DF?U�K?oJWe'

�G�TLEG@CL�FJDJRLf@?�DEmSO?F?Q?�CL�oeCOGB'�7?oJ@?�MGE?@ep�}?o�mT�DFmELCO?@�CG�ToeKJF�CLD�F?B?Q'

�I?Q?�B?Oe�TJ@L�CG�Ke|G�FmKN?FmKCL�KR\�CLD'�:GFGRJOJSDCmQ� e@?|RJFRUFLF� F?B?Q?Fm� NGBGFmB\EJ� RmD'� =J� OBL}GN?WeFLRJD\�op�\O}?�FNLRJ�o�CLFLRICm�DCmQJp�\O}?�TLOeBJR?�oFDm�N?E?OJ�S�FGBEGNJ'�0?Km�F?B?Q?Fm�FL|O?�oeR?�o�H?KJEJ'

dLD�FmK�WLDe�NB?FmB\f@?p�WJ�DEmSO?FJS�f�CL�oeCOGBm'�7?oJ@?MG� TFJWLSC?� E?Kmp� O?RJ� FEJHLf� S?Q?� BmFC?@mBCJS� HmK� CLQ?Bm'X?�@?DIp�}?o�WLD?@�TCGCLMIOL�CG�CLDO?WJF�CL�CI?Q?�F?B?Qp�L@J�MI?Q?�CG�WeRJ�o'�A?W�@Lf@?�}G�KBeQJS�FJHmKp�EBGoL�oeKGFJOJKLEJ��BLCLEJ�S�TBJFLEJ�@mCJp�L�O?RJ�F?CJ�CG�FJoeHCeEIpE?Km�TCJ}JEJ�LBHmF�m�DOmCWJEJ�T�D?o?U'

P�N?WLEO?@�TJ@J�F�oeCOGBm�RUKJCL�N?WeFLf�DGoG�}G�DJRIC?U'dJ@�KLRmp�EJ@�omRI�G�DRLoCG'�:LSomRI�G�CGTK?B?F?p�O?RJ�E?NJEID\DCmQ'�<�oeCOGBm�N?FC?�E?Km�F?KJp�}?�EGWG�T�eDmH�DE?BmC'

Z�.

���

<� QBeKCm� \� FT\FD\� T� TLNLR?@� K?� B?o?EJ'� 7LKmFp�}?� @LUDN?OmSCJS�OeEJOp�KG�@?|e�NJDLEJ�CG�EmRIOJ�TFmEJp�LRG�S�DN?@JCJ':L�/G@OmF}JCm�\�NJDLF��H�DGBGK�Ke|G�N?QLCJH�e@?Fp�TFJWLSC?�FRmDmp�CL�O?RmCm'��m�TFmEJ�oeRJ�O?B?EOm'�XLQLE?�MmOLFJH�~BL�@GCEmFT� o?�Fp� T�|JEE\� DEBmRIMmFp� T� CL�?Q?� m� F?B?|?Q?� DGBGK?FJ}LNB?NLR?p� o?� CG� @?|CL� oeR?� FDI?Q?� TLNJDLEJ'�=mS� D?EGCCJSFJH?FCJO��\NOL�OmRIOLOBLEC?�CLNJDLF�DN?@JCJjHB?CmOe�D?ECm'<DG�EGp�CL�|LRIp�NmK�WLD�o?U�NB?NLR?'�0GNGB�H?We�MG�FmKEF?BJEJp?KCLO�oBLOef�oLQLE?�KLE�m�MmCCJH�~BL�@GCEmFjOLBEJC�T�@JCeR?Q?'_G}?�@LU�TLNJDLCGp�F?C?�ToGBmQLfEID\�F�LBHmFmp�F�OBJ�FMm�CL�AjmS'�=?|G�FDG� EG� TL@?OR?p� NB?QCJR?p� E?@e�CG�|Ke�@LEGBm\RJ� mFmKEF?BUU�H?W�Em�OLBEJCJp�}?�ToGBGQRJD\�F�@?�S�NL@+\Em'

0LO�F�B?TNLRm�B?o?EJ�\�Ke|G�BmKO?�N?OLTeFLFD\�CL�DFm|GN?FmEB\� m� TLoeF� NB?�CL��?o?F+\T?O� o?KLS�NmFQ?KJCJ�NB?oeEJCLKF?Bmp�}?o�CG�NmKeNLDEJ�CL�DJRLH'

1KC?Q?�KC\p�O?RJ�\�oeF�TLSC\EJS�B?o?E?Up�H?B'�=JB?C�mFmDE'�0GE\CL�FJS�RJ�CL�oeCOGB'�0L@�F?CJ�e@?FJRJDI�FmKmBFLEJ@GCG�FmK�B?o?EJ'�<mDE'�0GE\CL�N?DNm�C?�NBJomQLf�K?�oeCOGBepORJWG�@GCG�CGQLSC?�SEJ�CLQ?Bep�o?�@Lf�}?DI�Ke|G�FL|RJF?Q?N?OLTLEJ'�`p� Ke@LUWJp�}?�F?CLp�@?|Gp� N?oLWJRL� KGDI� KLRGO?o?RI�GFJOmFp��FJKO?�FJH?K|e�TL�CGU'�0GE\CL�DELRL�CL�NB?QLRJCmmp�O?RJ�\�NmKmS�?F�K?�CG�p�F?CLp�FOLTeUWJ�NLRIMG@p�OL|Gg

*�XLWJEG�MGS�FGB�?O�\RJMm�*�0LOp�oLWe'*�XLWJEG�KBeQJS�FGB�?O�*�0LOp�oLWe'*�8�omR\�CG��MGS�DeHJS�FGB�?O�*�XLWe��*�\�oBLF�DNBLFe�N?FL|C?'*�8�Ee�@LRGCIOe�DeHe�QmROe�oLWJEG�*�XLWe'*�_?oBG�NBJKJFmEID\'0?@e�}?�\�@LU�DRLoJS�TmBp�CLNBe|eU�?Wm�S�NJELUg*��?�|�EL@�f�*�0L@� DJK\EI� KFL� O?@LBm� S� MmReUEID\p�*� DOLTLRL� F?CL

@GCmp� D@mUWJDI'�G�@GCG�KG}?�TLQCmFLR?p�o?�F?CJ�FmKmBFLRJ�@GCG�FmK�NBLMm'

0GE\CLp�N?oLWJF�J�@?f�CGFK?F?RGCC\p�DOLTLRLg

Z��

*� <JoLWEGp� KBe|G� O?@LCKJBGp� LRG� @J� MG� NR\C?F?NBJKe@LRJp�}?o�<LD� FJ@LCJEJ� CL� N?FmEB\'� 0B?HJ� FmKKJHCmEIpo?�?NmDR\�T?FDm@�CG�T@?|GEG�NBLMUFLEJ'

0BGoL�oeR?�N?DReHLEJp�m�\�TLRJ�JFD\'

YTU���RL� UU$

PoRJ|LR?DI�C?FG�DF\E?�F�CL�?@e�N?FDELCDIO?@e�TJ@?F?@eoeCOGBmg�KGCI�DF'�8CCJ�*�m@GCJCJ�CL�?��N?KBeQJ�FmDE'�0GE\CJ'=J� FmKDF\EOeFLRJ� m@GCJCJ� O?|C?Q?� T� CL�?Q?� oeCOGBe'� �GFJNRJFLR?�NGBGKeDm@�mT�KBe|oJp�N?�LCJ�m�RUo?Fm�?KJC�K?�?KC?Q?'

PLFEBL�CmS� KGCI� FJ@LQLF� FmK� CLD� Q?EeFLCC\� CL� KGCIDO?Bm�G'� <� eDmH� oeR?� oL|LCC\p�}?o� DF\E?� m@GCJC� KmFWJCJjN?FDELCM\p� \OL� DF?�@� ELOE?@p� KBe|CmDEUp� FmKFLQ?UpNBLMI?FJEmDEU� S� mKGSCmDEU� oeRL�}JB?� RUoRGCL� m��LC?FLCLMmRJ@�CL�J@�QeBE?@p�FKLR?D\'

0GE\CL� CLRG|LRL� K?� EJH� KmFWLEp� }?� FJBGORJD\� FJQ?KpTLRJ�JRJ�BmKCm�HLEJp�TCGHEeFLRJ�?D?oJDEJ@�}LDE\@�m�FDG�DF?f|JEE\p�TCLCC\�EL�NBLMU�FmKKLRJ�KR\�5OBL�CJ'�<?CJ�N?RUoJRJKLRGOm�BGSKJp�EBJF?|Cm�KCm�EL�C?Wmp�CGBmFCm�o?�p�CGFJQ?KJp�EBeKJpQ?R?K�EL�H?R?Kp�N?RUoJRJ�FmSDIO?�m�F?\MIOG�|JEE\'�<?CJ�DELRJF?\OL@J� T� Ke�mp� OB?FJ� m� O?DEJ'� >� ELOJH� KmFWLE� @?|CL� oeR?CLBLHeFLEJ� oLQLE?'� _?� CJH� CLRG|LRL� FmDE'� bLR\j0GE\CLpB?TFmKCJO�528p�BLS?C?FJS�BG~GBGCE�5dAp�?NmDR\�41�m�FOmCMm@L�JCmDEOL�6<'�<Dm@�FmK?@m�oeRJ����NBJQ?KJp�?KWLSKe�Cm�WJCJp\O�F?\OL�m�BGF?RUMm?CGBL'�P����FGRJOJHp�B?Te@CJHp�OLBJH�?WGSFmKWJEeFLF�O?|CJS�K?oB?Eep�DEmSOmDEIp�HLBLOEGBCmDEI�m�DJRICeF?RU'� 9�� Ke�L� oeRL� }JBL� m� OBJ�ELRGF?� WJDELp� ��� MmHeFLRLFJEBJFLRmDEIp� ?o?F+\TO?FmDEI� m� DL@?N?DF\EL'� 4F?f� ?D?oJDEG}LDE\�oLWJRL�EmRIOJ�F�}LDEm�CLB?Ke'�2?�TFLCCm�oeRL�FWJEGRIO?Um� FJS�RL� T� eo?Q?�� RG@OmFDIO?�� B?KJCJp� KG� F|G�W?EJBJBmWC?UKJEJC?U� FEBLEJRL� @L@e'� XeRL� MG� RUKJCL� FJD?O?�� OeRIEeBJpmCEGRm�GCECL� m� CGTFJWLSC?� QLBCL'� 6BLDL� CGBLT� ��� D@eEJRLp� o?TFGBELRL�eFLQe�oLQLEI?H�N?FDELCMmFp�L�MG�CG�oeR?��S�K?�FN?K?oJ'

2?KLBeCOmF� NmKQ?E?FJEJ�@J� CG�@?QRJ�|?KCJH'�=J� �H� CG@LRJ'�<�N?KLBeCOe�@?QRJ�NGBGKLEJ�EmRIOJ�}JBm�DR?FL�N?oL|LCI'<�@GCG�N?DELRL�Ke@OL�FmB�G@�CLNJDLEJ����@JCeRGp�H?W�\�CmO?RJF�|JEEm�CG�@LF�T�FmB�eFLCC\@�CmW?Q?�DNmRIC?Q?'�=LEGBm\R�K?MI?Q?�KLRJ�@GCm����?N?FmKLCC\p�\Om�F?CL�@eDmRL�NmK�EJDO?@�FDmH

Z�Z

KBeTmF�?N?FmKLEJp�\O�m�FDmp�}?o�oGT�CeKIQJ�NB?H?KJF�WLD'�2B?DGoGp�L�T?OBG@L�NB?�DF?U�Km\RICmDEI�F�B\KLH�528p�L�NmTCm�G�FB\KLH�BGF?RUMmSC?Q?�NmKNmRR\p�F?CL�CG�RUoJRL�oLQLE?�Q?F?BJEJpH?Wp�@?|Gp�@LRL�NBJQ?K�m�NGBG|JFLCI�omRI�G�FmK�oLQLEI?H�mC�JHN?FDELCMmF'�6?RJ�?N?FmKLRLp�E?�CLSWLDEm�G�NB?�DF?��oGT|eBCmKJE\Wm�B?OJp�NB?�BmKCG�DGR?p�B?KJCep��O?Re'

=?f�FmB�eFLCC\�oeR?�o�?NJCJR?D\�F�NGWmp�LRG�NGBGO?CRJFmDR?FL�FmDE'�=JB?CLp�}?�F?C?�KR\�FmDE'�0GE\CJ�oeKG�NBJf@C?UNL@+\EO?Up�T@eDJRJ�@GCG�K?NB?FLKJEJ�KmR?�K?�OmCM\'

4I?Q?KCm�KJ|eBCJ@�oeF�DE'�FmDE'�7JoLROL'�:L�NBGFGRJOJSOR?NmEp�FmDE'�0GE\CL�CG�Nm�RL�DNLEJ�m�FGDI�WLD�K?N?@LQLf�DF?f@eKBeQ?FmjRG@O?Fm�N?BLEJDI�omR\�OeHCm'�2B?�CL�m�TLFEBL�Cm�NR\CJDF\EOeFLEJ����m@GCJCJ�F?CL�CLFmEI�CG�K?QLKeFLRLDI'�=J�N?R\QLRJDNLEJ�T� Ke@O?Up�}?�CmWWU�FDELCG@?p� FN?B\KOef@?�DFmS�?K\QpFTeEE\�m�NBJQ?Eef@?D\�K?�BLCCmH�N?oL|LCI'

6?RJ�@J�F|G�N?ORLRJD\�DNLEJp�CL��KJ|eBCJS�DE'�FmDE'�7JoLROLFJQ?F?BJFD\�NGBGK�CGUp�}?�@J�TCLf@?� ��� KmSDCG� m@+\'��G�EB?HJToGCEG|JR?� ��p� S� F?CL� TL\FJRLp�}?�CG� oeKG� DNLEJp�}?o�@J�CGDORLRJ� �S�N?oL|LCIp� O?RJ� F?CL� FDELFLEJ@G� T�NBJWm'� <JWJDEJRLFTeEE\p�?K\QCeRLD\�DF\E?WC?�F�DF?U�eRUoRGCe�WGBF?Ce�oRUT?WOepm�F����Ke�m�EL�CLT?FCm�oeR?�}?DI�eB?WJDEG'�<?CL�DL@L�F|G�DF\EOeFLRL'<�?WmOeFLCCm�KC\p�F�}JBmS�B?T@?Fm�RG@OJCm�T�RG@O?@�F?CLp�DJK\WJCL�NBJWmp�TLKBm@LRL'

=J�FJO?BJDELRJ�MU�HFJRJCep� m� FDm� EJHGCIO?� FJS�RJ�CLoeCOGBp�KG�FN?B\KOeFLRJ�?K\Q�EL�FTeEE\'�<�DEBmRGMIOmS�RLFm�FoeCOGBm� TLDNmFLRJ� �=C?QL\� RmEL�'� <mDE'� 0GE\CL� TmBFLRLDIp� @?FNGBGR\OLCL'�2?oLWJF�J�CLDp� DF\EO?F?� ?K\QCGCJHp� TCm\O?FmRLpDELRL�CL�BmFCm�C?QJp�?NeDEJF�J�Q?R?Fe'�=GCmp�\O�CLSDELB�?@eDEeNGCG@�m�~eCOMmfUp�K?FGR?DI�DORLKLEJ�NGB�?@e�N?oL|LCC\'2mDR\�E?Q?�\�NGBGNB?DJF�0GE\Cep�}?�H?We�FmKWJELEJ��S�EGp�W?Q?CG�FJDOLTLF�DR?FL@J'�A?B'�=JB?C�NBJDFmWef�DFmWO?Up�L�\�WJELUNJDLCG�?RmFMG@g

Y�� �� ����)�� ����%�������&��(�%S����&B���/E������(���/���������4�0��'��� � �������&��)���(� ������/������ ����(�����/L���'��� ��'�(���

Z�[

a�0� &����� ����� ��/E�,�������������� ��/$��'�+,�'�������I� ��&,��+��� �������������)/��&�������/�&������)��&�1���G��&������������+��/A�������)0������+��D���/��(� ����.��0���+���& �,���R����(�0�������/S�1������ ������������������ �0�����/����&(�(��0���3��/�0&�����0&��������1��& ��&�a����%�� &���������/2���%,���1������&����F5���0)�'�&J�'�%����4�0,���������'����/$���,��� ����&���/ �,�&���� &���%����������/ ����%���������D����/��'���/���������/�����)����(���� ��

<�KLRI�JH�DEBmWOLH�oeRL�?NJDLCL����@?R?KmDEI�EL�eWLDEI�eNmKNmRICmS�o?B?EIom'�<mB��OmCWLfEID\g

���%��/ ��+/& &����������'��&���� & �) ��&��T�%&���+�&��(�3 � ����&�%F,�����,��T�%'��,����&�����-��& ��� �����'����E��� �++��,���1� �,��J���B� ��&���������� �-��&�������a����� ���,��� ��-�����&�+/�������

<mB��MGS�TB?oJF�FBL|GCC\�CL�m@GCJCCJMU'�<?CL�NBJSC\RL

Z�Y

S?Q?�T�DRI?TL@J�CL�?WLH'�2B?DJRL�@GCG�NmKNJDLEJ�FmB�'�2mDR\E?Q?�N?NRJFRJ�}JBm�B?T@?FJp�DN?QLKJp�OBJRLEm�NmDCm'�5�FGDGRmSm�@JRmS�LE@?D~GBm�@JCeF�KGCI'

���RVY�ZU ��"T{

0BGoL� TC?Fe� F� DGR?� FJDRLEJ� DEBmRIMmF� CL� B?TFmKOe'� ALSNBJCGDeEI� FmDEm� mT� DFmEep� NBGDep� N?EBmoCm� HLBWm� CL� DF\EL'� 8CLSFL|RJFm�G�*�K?FmKLEJD\p�}?�B?oJEI�F?B?Q'�2GBGK�FmKH?K?@DEBmRIMm�TLF|KJ�KmDELUEI�K?ORLKCm�mCDEBeOMm�'

4I?Q?KCm� FmKH?K\EIg� W?E'� 2LDp� FmDE'� <JH?B� m� FmDE'� 4mBJS'0?@e�}?�F�RmDm�DCmQp�EBGoL�oeKG�SEJ�OmR?@GEBmF�KFL�N?E?O?@�eF?Kmp�L|�K?�K?B?QJ�F�RmDmp�}?�NGBGEJCLf�N?EmO'

*� _?� DGRL� EBGoL� NmKH?KJEJ� FFGW?Bmp� O?RJ� f� BeH'<FL|LEJp�}?o�CG�oLWJRJ�DGR\CJp�\OJ@�CG�EBGoL�FLD�oLWJEJ'<?B?Q� TFGW?BL� SKG� CL� TLDmKOep� ?KCLO� WLDE?� T@mCUf� @mDMGN?oeEep� m�S?Q?�CG@Lf�CmWWU�F�E?@e�@mDMmp�KG�oeF�FKGCI'�_?DGRL�CG�SEJ�?KCmfU�K?B?Q?U�m�CG�FGBELEJD\�EmfU�|'�4GR\CL@pT� \OJ@J� oeKGEG� Q?F?BJEJp� CLOLTLEJp� }?o� CmO?@ep� CLFmEIDF?�@� CLSoRJ|WJ@� CG� Q?F?BJRJ� NB?� EG'� 1KJC� NGFCJSQ?DN?KLB�@eDJEI�N?�HLEJ�FL�J@�DRmK?@�K?�RmDep�KG�FJ�DH?KJRJT� N?E?OL� K?� K?B?QJ'� 6?RJ� oLRLOLfEG� T� DF?�@� B?TFmKCJO?@pB?oJEJ�ELOp�}?o�CmHE?�E?Q?�CG�oLWJF'�2GBGH?K\WJ�omR\�HLEpFFL|LEJ�CL�FmKOBJEm�KFGBm�F�DE?K?RLHp�DELSC\Hp�o?�EL@�@?|GoeEJ�F?B?|JS�OeRG@GE'�:G�NGBGH?KJEJ�omR\�FmO?Cp�}?o�CGNGBGDeFLRJDI�EmCm�S�}?o�CG�oRJ}LRL�ToB?\'�:G�DE?\EJ�NGBGKHLE?Up�NGBGK�omR?U�DEmC?Up�o?�E?Km�F?B?Q�@?|G�TLNBJ@mEJEJ'4E?\EJ� F� EmCm'� 4EmSO?FJS� @eDJEI� ?oBLEJ� K?oBG� N?RG� K?T?BGCC\�m�DE?\EJ�F�EG@C?@e�@mDMm'�5�FJNLKOe�N?Q?Cm�F?B?QL@LEJ� NBJQ?E?FLCm� �BLCLEJ'� <FL|LEJ� omR\� N?B?|CmH� HLE'1oGBG|C?� F� DLKLH� m� CL� B?TK?Bm||\H'� b?R?DC?� CG� DEeOLEJK?�FmOCL'�:G�OeBJEJ�MJQLB?Op�TLo?B?CJEJ�DFmEJEJ�DFmER?�FHLEm'��?o�CG�oBGHLRJ�D?oLOJp�CLOLTLEJ�TL@OCeEJ��H�K?�HLEJ'6?RJ� D?oLOJ� CLB?oJRJ� BeHep� FmKBLTe� T@mCJEJ� @mDMG'� 6?RJWefEG�DJRICJS�QLFOmE�D?oLOp�?oGBG|C?�NmKDeFLEJD\'�PoB?UTLF|KJ� EBJ@LEJ� Q?E?F?U� K?� DEBmRe'� 4RmKOeFLEJ� CL� K?B?TmTL� DRmKL@J� N?� DCmQe'� 2BJ� N?F?B?Em� DEB\DLEJ� DCmQ� T� KGBGFp}?o�TLDJNLEJ�DRmK'

0GNGB�CL@LDEJEJ�D?om�R?f@�FTeEE\�m�FT\EJ�T�DGRL�Q?BmROep}?o� NmDR\� N?F?B?Ee� oeR?� WJ@� B?TmQBmEJD\p� o?� EBGoL� oBGDEJF?K?U�FJ}G�O?RmC'

Z�n

0LOm�@?��mCDEBeOMm�'4EBmRIMm� TQ?R?DJRJ� FmKHmK� m� FmKmS�RJ'� PL� WLD� �HCI?�

FmKDeEC?DEJ�DEmSO?FJS�CLDReHefp�WJ�CG�oeR?�DEBmRmF�e�DGRmp�WJCG�oRJDOLRJ�BLOGEJ'�:L�O?|CJS�FJNLK?O�@eDJ@?�oeEJ�Q?E?Fmp}?�HE?DI�FL|O?�BLCGCJS�@?|G�FNLDEJ�F?B?Q?Fm�F�BeOJg�L�NmKE?BEeBL@J�BmTC?�oeFLf�*�FJEBJ@Lf�Lo?�Cm'

���

1NmFC?Wm�WeEJ�QeBOmE'�>KeEI�CL�m'�<?KL�HRUNLf�F�W?o?E\HpmT��ELCmF�EGWG�F?KLp�?oRJWW\�FmK�H?R?Ke�L|�N?DJCmRJp�H?W�CGDRJoLQLE?� FDmR\OJH� BGWGS'� d?E'� 2LD� TQ?R?�ef� NBJHmK'� 4O?B?B?TTeFLUEID\p�FJNJFLUEI�N?�WLBMm�Q?BmROJ�m�om|LEI��CL�oLCEJ�'�?SC?�EGNGB�N?WJCLUEI�?N?FmKLEJ'

:LDGRGCC\�N?oRJTIOJH�DmR�|JFG�CLKmfU�CL�CG@JCeWe�FmSCe'A?KJEI� Ke|G� oLQLE?� N?RmEJWCJH� WeE?Op� WLDE?� CLFmEI� Ke|GCL�FCJH'�:L@� BLK\EI� eFL|LEJp� EBJ@LEJD\'� <DELC?FRUUEI� KR\@?|RJF?�� FmSCJ� KLEJ� m� NBJWJCJ'� 4GR\CJ� Em�LEID\p� }?L@GBJOLCDIOL� �GKGBLMm\� 2BLMm� NBJC\RL� N?DELC?Fe� NB?NmKEBJ@Oe� N?RmEJOJ� eB\Ke� 4a8� m� NR\Ce�=LB�LRRLp� NB?N?DJRGCC\�LOMm��NB?EJ�<DGDFmECI?���GKGBLMm��2B?~DNmR?Op�}?�FBeOLH� O?@eCmDEmF'� _G\Om� DGR\CJ� Ke|G� K?oBG� ?BmfCEeUEID\� FN?RmEJWCJH� DNBLFLH'

:LDGRGCC\�K?�QRJoJCJ�?oeBGCG�QBLom|CJMIO?U�N?RmEJO?UeB\Ke�4447'�2mK� N?OBJ�O?U� QB?�?F?�� BG~?B@J� qY� QBeKC\qkZn� B'� o?RI�GFJOJ� ?QBLoJRJ� CLDGRGCC\� T� ?DELCCI?Q?OLBo?FLCM\p� ?omM\UWJ� KLEJ� N?FC?MmCCJS� QBm�p� DOLDeFLCC\HLBW?FJH�OLBE?O�m�NGBGHmK�K?�FmRIC?��E?BQmFRm'�X?RI�GFJMIOJSeB\K�eOBLF�CL�O?|CJH�q��OLBo?FLCMmF�*�KGF+\EI'�_?B?|CGWLp}?�oeRLp�RJ�JRLD\�KLRm'��mCJ�Em�DL@mp�KG\Om�CLFmEI�NmKDO?WJRJ'0?FLB�}G� FL|WG� KmDELEJp� \O� K?Dm'� 4NGOeR\Mm\p� \O� oeRLp� ELO� mTLRJ�JRLDI'�:LDGRGCC\�OL|Gp�}?�o?RI�GFJOJ�NGBGFGRJ�QB?�GFeBG~?B@e�CL�EGp�}?o�N?OBJEJ�KG~mMJE�F�KGB|LFC?@e�oLCOe'

:LSomRI�� EBLQmWC?U� FmDEO?U� KR\� CLD� oeRL� FmK?@mDEIp�}?..� QBeKC\� qkZn� B?Oe� N?@GB� F� oeCOGBm� CL� EJ~� D?E'� 0LBLDO?'/GQGCKLBCJS�QGB?S�4L@omB}JCJ�FmKmS�?F'�<@JBLUWJp�TLORJOLFDF?Q?� oBLELp� DE'� FmDE'� PmBOep� NGBGKLF� S?@e� ToB?U� m� NB?DJFNB?K?F|eFLEJ� o?B?EIoe'��LRmFp�}?� CG� QJCG� CL� N?Rm� o?Up� LF@JBLf�CL�N?DEGRm�CL�EJ~'�4@GBEI�OjBL�0LBLDOL�Ke|G�FBLTJRLCLDGRGCC\p�\OG�S?Q?�CGTFJWLSC?�RUoJR?'

Z�w

<�KF?H�TJ@?FJH�oeCOGBLH�HF?Bmf�}G�qZ�DEBmRIMmF�CL�EJ~'.Y�QBeKC\�qkZn�B?Oe�o?RI�GFJOJ�CLDO?WJRJ�CL�oeCOGB�W?E'

7eoLCLp�BLCJRJ�S?Q?'�PLQJCeRJ�DEBmRIMm�/eQ?FJSp�1BGR�m�:?FJS'�JFJ@�N?NLF�F?B?Q?Fm�F�BeOJ�DE'�<?B?C'�4EBmRIMm�H?KJRJ�K?�DGRLN?�HLBWm�F�TL@GEmRI'�6?RJ�N?FGBCeRJDIp�DRmKmF�CG�oeR?p�o?�TLOeBJR?pLRG�N?�OmRIO?H�KC\H�DCmQ�N?WLF�E?NJEJD\�m�DRmKJ�FJS�RJ�CLFGBH'PL� CJ@J� F?B?Q� KmS�?F� K?� oeCOGBe'� <mKBLTe� CLDEeNC?Q?� KC\o?RI�GFJOJ� CLS�RJ� CL� oeCOGB� Oe}'� 7?@LCWeOL'� 2?FDELCMmFJDO?WJRJ�T�oeCOGBe� m�H?B?oB?�FmKoJFLRJD\'�<�o?U�FNLF�oeCW'XeBGFmSp�Oe}'�7?@LCWeOp�DELC'�4?O?RGCO?'�:L��4JMJRm���NGBGoeFLfFmDE'�4NLBELOp�}?�TJ@eFLF�F�oeCOGBm�OjBL�7eoLCL�m�}LDRJF?�FJBFLFD\T�N?Q?Cm'�<mC�H?WG�TF+\TLEJD\'�X?RI�GFJOJ�CLDO?WJRJ�ELO?|�CLoeCOGB�B?S'�<LCIOJp�LRG�FDm�}LDRJF?�FJS�RJ'

<mDEOJ� oeRJ� EBJF?|Cm'� <?B?Q� NBJDEeNJF� K?� B?o?EJ'4N?WLEOe� NB?FLKJF� B?TFmKOep� ToJBLF� @LEGBm\RJ'� 0GNGB� Kmf'=LS|G�}?KGCC?�NGBGH?KJEI�N?�DGRLHp�FmKFmKef�FDm�HLEJp�}?oNBJ� E?@e� TeDEBmEJ� DF?�H� DGOD?EmF'� _G\Om� QBeNJ� o?RI�GFJOmFNGBG?K\QLUEID\� F� eCm~?B@e� N?FDELCMmFp� OL|eEIp�}?� CL� �HCmSoeCOGB�CLNLRJ�o?RI�GFJOJ�m�F�CLDGRGCC\���eOLUEI�TF+\TOe�K?N?FDELCMmF�'�7?TFmKCJOmFj�oLDLBLoMmF��EL��Q?R?KeUWJH��F|G�CGFJKC?'�<�?KC?@e�DGRm�LBG�EeFLRJ�?KCe�KmFWJCe�TL�DNmFNBLMU�TN?FDELCM\@Jp�OLEeFLRJp�LRG�KmFWJCL�K?�CmW?Q?�CG�NBJTCLRLD\'2mDR\�E?Q?�OmRIOL�o?RI�GFJOmF�FGBELUEID\�T�CGU�K?�DGRLp�KBeQLQBeNLp� FKLUWJ� N?FDELCMmFp� B?oJEI� CL� CJH� TLDmKOep� ?oDEBmRUfNGB�JHp�Em�FEmOLUEI'�2GBG?K\QCGCm�TL�N?FDELCMmFp�o?RI�GFJOJ�FJTF?R\UEI��KmFWJCe�m�TLBLT�|�TLOJKLUEI��Sp�}?�F?CL�NmKNJDLRLDNmFNBLMU�T�o?RI�GFJOL@Jp�}?o�F�MGS�DN?Dmo�DNB?F?OeFLEJ���EL�K?FmKLEJD\p�WJ�F?CL�@Lf�TF+\T?O�T�N?FDELCM\@J'�1KCLO�KmFWJCLK?QLKLRLD\p�}?�MG�NB?F?OLMm\p�m�CG�TBLKJRLD\'

:G� EmRIOJ� DGR\CDEF?� m� @?R?KI� CLDELFRGCm� F?B?|?� K?o?RI�GFJOmFp� LRG� CLFmEI� @LRm� KmEJ'� _?� ?KCmf�� HLEJ� FH?KJEIo?RI�GFJOp� NmKH?KJEI� K?� F?DI@JBmWC?Q?�HR?NM\� m� NJELfg� ��?WJELf�p�@LRIWJO���=JHLDI�CG�FmKTJFLfEID\'�X?RI�GFJO�NJELfFKBeQG'� AR?NWJCL� CLFmEI� CG� H?WG� KJFJEJD\� CL� CI?Q?� m� KLRmKJFJEID\� F� OCJ|Oep� CL� DE?BmCMm� \O?�� CL@LRI?FLCJS�4ELRmC'X?RI�GFJO�NJELfg��d?Q?�EJ�CL�@GCG�QCmFLf�D\p�W?@e�CG�H?WG�KJFJEJDI�CL�@GCG���=JHLDIg��X?�@GCm�CG�H?WGEID\�'�*��8�}?\�E?omp�W?BEp�}?�E?om�CG�H?WGEID\���AR?NWJCLp�KLRm�CG�KJFJEID\CL�o?RI�GFJOLp�OL|Gg��0J�QmB�JS�W?BELp�m�@GCm�ELO�m�CG�H?WGEID\

Z�k

KJFJEJD\�CL�EGoG�'�0?Km�o?RI�GFJOg��8RG�EJ�H?B?�JS�@LRIWJOpo?�FWJ�D\�NB?�4ELRmCL�'�*��:ep�@e�e�FWJEJD\�'��8�EJ�S?Q?RUoJ����*��:L�W?BEL�@GCm�S?Q?�RUoJEJ�'

4EmRIOJ�oeR?�T�CL�?��B?TFmKOJ'6Bm@�E?Q?p�DEBmRIMm�NBJCGDRJ�FDG�EGp�}?�CL@�oeR?�N?EBmoC?

CL�DF\EL'

U �Y��RV!!V

2mDR\�TLC\EI�DEBmRIMm�ToJBLUEID\�K?�H?R?KC?��NGBGOeDOJ'9@?�DeHLBm�m�DmWGCG�T�MJoeRGU�DJBG�@+\D?'�4I?Q?KCm�NLRJEJ�CGFmRIC?'�=mD\MI�DFmEJEI�ELO�\DC?p�}?�F?B?Q�@mQ�oJ�TLNBJ@mEJEJKJ@'� _?� DJB?Q?� @+\DL� DEBmRIMm� TFJORJ'� 2mDR\� NGBGOeDOJN?WJCLUEID\� QBJ� F��LHJ� S� K?@mC?'� _GHE?� WJELf'� dLD?@� N?WGBTm�O?|CJS�B?TOLTef�\OJSDI�|LBE�Lo?�NGBGN?FmKLf�}?DI�mTDF?Q?�|JEE\'�6?RJ�S�MG�CLD�CG�MmOLFJEIp�DEBmRIMm�TLoJBLUEID\K?�DF?�H�?D?oJDEJH�TLC\EIg�?KJC��Jfp�KBeQJS�RLELf'�:GTL@mEC?eFmSKG�F�oeCOGB�EJ�L'�0LO�CGBLT�Q?KJCL@J'

�����&0�,������)�����-��1�&���,���%�����T��'����� ����� /�,�����/T�('���+���� ��)�� ���H- ��� ��&'���� ��&���/E�&�) ��&�����&� ���R���������)���0������D����&���&,��)�����

<� ELOe� EJ�e� ?KCm� @BmUEI� NB?� @LSoeECfp� mC�m� TQLKeUEI@JCeRG'

���

<mDE'� 0GE\CL� oGTeDELCC?� DJKJEI� omR\� @L�JCJ� m� NJ�G'2JDLRICL� @L�JCL� KTFmCO?@� NBJQLKef� CL@p� }?� TLOmCWJRLDIHFJRJCLp�NGBG|JEL�F�NmKTG@GRRmp�m�}?�F?CL�CG�FGBCGEID\�CmO?RJ'A?B'�=JB?C�TLKe@LCJSp�FN+\F�DF?��?Wm�OeKJDI�F�KLRGWmCI�m�DE?�EIELO�K?FQ?p�K?FQ?'�d?E'�2LD�@eWJEID\�CLK�\OJ@DI�TLFKLCC\@�TLBJ~@GEJOJ�m�?oBLH?Fef��FJKOmDEI�RGEe�RmELOL'�<mDE'�4NLBELOp}?�CGKLFC?�K?�CLD�NBJS�?Fp�NGBG|JFLf�}G�BLT�CGKLFCmS�CLDO?OF?B?QL'�XeF�F�?omS@LH�D@GBEJ'�dGBQ?U�T�OeRG@GEL�TFLRJF�OmRIO?H

ZZ�

N?QBLCJWCJOmF'�<mC�oLWJF�eoJEJH�m�OBJFLFm�DRmKJ�CL�DCmQe'�0GNGBpTLR?|JF�J�N+\DEeOJ�NmK� Q?R?Fep� TmKHLFg� FmC�Ke@OL@J�oeF�O?R?DF?f�� KBe|JCJ� m� @LRGCIO?Q?� DJCOLp�}?� EJC\UEID\� N?� DGRLH'<mDE'�<JH?B�CL��oLCELH��NGBGR?|JF�C?Qe�CL�C?Qe�m�KJFJFD\�CLDF?U�DOBJNOep�oL|LUWJ�NGBGBFLEJ�EJ�e�QB?U'�4E'�FmDE'�XLSKLO@mBOefp�NmKNGBEJS�CL�RmOEmp�}?�DI?Q?KCm�K?FGKGEID\�S?@e�FLBJEJCL�FGWGBU'��G�oeF�KR\�CI?Q?�CLSomRI�JS�OR?NmE'�6?RJ�CL�CI?Q?NBJNLKLF�KJ|eBp�FmC�F|G�KGCI�NGBGK�EJ@�|eBJFD\p�L�NmDR\�KJ|eBeKGCI� Lo?�S� KFL�@mBOeFLFp� WJ� KBeTm� oeRJ� FK?F?RGCm� T� S?Q?� �|m'<mDE'� XeSCJS� FJWmDef� DF?f� oeSCG� F?R?DD\� EL� Ke@Lfp� \O� E?� FmCTeDEBmCGEID\�mT�DF?fU�4?~eCGUp�O?RJ�NLKLf�ELOJS�FGRJOJS�DCmQ'<mDE'�4mBJS�DJKJEI�CLK�LoGEO?U�m�FJFWLf�QBL@?Ee'�V?@e�DI?Q?KCmTL\FJRJ�KBeTmp�}?�\O}?�FmC�CG�CLFWJEID\�WJELEJ�S�NJDLEJp�E?NB?� MG� B?TOL|eEI� S?Q?� KmFWJCmp� \OL� DOmCWJRL� FmDm@� OR\D'4E'�FmDE'�7JoLROL�DJKJEI�CL�O?FoJMm�F�OeEOe�m�@Lf�FGRJOe�|eBoegT�S?Q?�BmKC?Q?�DGRL�Nm�RJ�F�528�N?CLK�.��HR?NMmF'�0GNGB�FmC?oBLHeFLFp�}?��H�TLRJ�JR?DI�RJ�G�KF?fg�DE'�FmDE'�aFLBCJS�m�FmC'2JELf�DGoGp�T�OJ@�NmKG��eOLEJ�DF?�H�BmKCJH�?KC?DGRIMmFp�O?RJ5OBL�CL� DELCG� FmRIC?U'� P� RG@OmFDIO?�� D?ECmp�}?�CLBLH?FeFLRL}?DI�.[�� RUKGSp� DI?Q?KCm� TLRJ�JR?D\�OmRIOLCLKM\EI'�4E'� FmDE'7JoLROL�e\FR\f�DGoG�NGBGK�TmoBLCJ@�CLB?K?@p�\O�FmC�?N?FmKLfNB?�@LB�� RG@OmFDIO?�� D?ECm� OBmTI� TLFT\Em� o?�� CLTeDEBmW� F?Rm'V?Q?�@eWJEI� NJELCC\p� WJ�@?R?K�JS� oBLEp� \O?Q?�}G� TLRJ�JFFK?@Lp�SKG�NBLFJRICJ@��R\H?@p�WJp�@?|Gp�TLNJDLFD\�F�O?@D?@?R'1KCLOp�Ke@Lf�FmCp�O?RJ�DEmRIOJ�RG@OmF�eNLR?�TL�F?RU�5OBL�CJp�E?S�DGBMG�oBLEL�CLNGFC?�CLRG|JEI�K?�CG�'

PFJWLSC?�DEBmRIMm�TLELUFLRJ�DF?��?D?oJDEm�N?WeFLCC\p�}?o?KJC� T� ?KC?Q?� CG� D@m\FD\'� 8RG� F� B?T@?Fm� T� CL@J� F?CJFJDR?FRUFLRJ� DF?�� Ke@OJ� }JB?'� 0GNGB� CG@Lf� \O?Q?DIFmKFL|C?Q?p�}?o�NGBGBFLF�EJ�JCe'�<Em@�?omTFLFD\�FmDE'�XeSCJSg

*�_Be|G�O?@LCKJBGp�\O�K?FQ?�}G�oeKG@?�F�NmKNmRRm�0BGoL�oeR?�KLEJ�ELOe�FmKN?FmKIp�}?o�CG�FmCp�LRG�FDm�NBJSC\RJ

���\O�NGBGO?CRJFJS�LB�e@GCE'*�0LO�K?FQ?�oeKG@?�F�NmKNmRRm�S�ELO�K?FQ?�NB?FLKJEJ@G@?

o?B?EIoep�\O�K?FQ?�F�5OBL�Cm�oeKG�?OeNLCEp�\O�K?FQ?�F�O?RQ?DNLHWeEJ�NRLW�Q?R?KCJH�KmEGSp�\O�K?FQ?�OLE?FLCm�F�EUB@LH�m�F@JBLUWmCL�4JomBe'�2?OJ�WeEJ�N?�CL�JH�DGRLH�m�RmDLH�F?B?|m�OeRG@GEJpN?OJ�FmKoeFLUEID\�KJOm�?oRLFJp�EGB?B�m�CLDJRIDEF?p�ELO�K?FQ?oeKG@?�o?B?EJD\�m�CG�FJSKG@?�T�NmKNmRR\p�*�FmKN?FmF�\�S?@e'

ZZq

�U� B?T@?Fe� N?WeRL� FmDE'� 0GE\CL'�2B?DJEI� K?TF?RJEJ� �SQ?F?BJEJg

*�_BeTmp�CLK�EJ@�NJELCC\@�\�F|G�CG�BLT�TLDELC?FR\RLDI'<mKN?FmKI� ?KCL�*� ELp� \Oe� KLFLF� O?@LCKJB'� 8RG� OBL}Gp� \NGBGO?CLRLD\�?D?oJDE?p�CG�@eWJEJ�DGoG�MJ@�NJELCC\@'�0BGoLeORLDEJ�D?om�ELO�|JEE\p�}?o�F�B?TNLRm�NBLMm�S�o?B?EIoJ�@JCLFWLDp�\O�N?�TK�F�DEGNe'�PL�CL@J�@Lf�?DELEJ�FmKKLCL�KR\�CLB?KeNBLM\p�eDNmH�F�o?B?EIomp�FTmB�CL�?��mKGSC?DEJp�L�\O�EBGoL�*�E?QGB?SDEFL�m�N?KFJQmF'�<�NBLMm�RUKJCL�TCLH?KJEI�TLoeEE\'�0?Km@J�CG�oeKG@?�@LEJ�WLDe�TLDELC?FR\EJD\�CLK�ELOJ@J�DNBLFL@J'�G�MmHef�DRLoJH�RUKGSp�FJWGBNLCJH�Lo?�RUKGS�F�CGF?Rm'�=J|JFG@?�CL�F?Rm'�=Lf@?�ToB?Up�DF\Ee�mKGU�m�\DCe�@GEe�NGBGKD?o?U'�0?@e�@Lf@?�SEJ�oGT�NBJQC?oRGCC\�m�De@ep�CG�TFL|LUWJCL�FEBLEJ�S�|GBEFJp�K?�NGBG@?QJ'

=J�?oBLRJ�D?om��R\H�o?B?EIoJp�\OL�EF?BJEI�C?Fe�GN?He�FCL�mS�mDE?Bm�'�A?WL�o�MGS��R\H�TLoBLF�CL@�K?FQmp�K?FQm�B?OJpCL@�?KCLO?F?'�`O}?�FmC�TLoBLF�oJ�CLFmEI�MmRG�CL�G�|JEE\p�E?m�CL�MG�@J�NBJQ?E?FLCm'�=J�DR?FL��oeEJ�Lo?�CG�oeEJ��FJOJCeRJT� NeDE?�� ~BLTG?R?Qm�� m� TL@mCJRJ� �H� F� WJC'�=J� @eDJ@?� oeEJBGF?RUMm?CGBL@J� m� oeKmFCJWJ@J� eOBL�CDIO?�� DL@?DEmSC?�D?o?BC?�� KGB|LFJ'� 0?@e� TLSF?� DELFJEJ� CL@� NJELCC\g� \O�}GK?FQ?��:L�L�o?B?EIoL�*�MG�@JDEGMEF?p�CL�m�CGFJQ?KJ�m�NBJQ?KJ*�MG� S?Q?� NBJOBLDJp� @GEL�*� MG� ��� T@mDE'� A?W� CL�L�UCmDEIoGTD?CCLp�EBJF?|CLp�TLEG�oRJDOeWLp�DRLFCL'�ALS�?KCG�N?O?RmCC\N?DF\EJEI� DGoG� KR\� mC�JH� N?O?RmCI'�=J� @Lf@?� NBJCGDEJ@LSoeECm@� ELOe�UCmDEIp� NB?� \Oe�@J� RJ�G� F@mf@?�@Bm\EJ'� PLDF?fU�@?R?KmDEU�|LReFLEJ� CG� oeKG@?'� <� CLD� WJDEL� D?FmDEINGBGK� @LfDELE?@� 5OBL�CJp� NGBGK� mDE?BmfUp� NGBGK� CL�J@JKBeT\@Jp�\Om�FNLRJ�F�MmS�o?B?EIom'

0LOL�FmKN?FmKI�FmDE'�0GE\CJ�NBJNLRL�O?|C?@e�K?�DGBM\p�EJ@omRI�Gp�}?�Q?F?BJRL�MG�KmFWJCLjN?FDELCGMI'�aLBRI?EJ�6?BKGp6?D@?KG@+\CDIOm�S�mC�m�@GBOCeEI�NGBGK�N?DELE\@J�CL�JH�KmFWLE'<|G�D?ECm��H�FNLRJ'�<?CJ�CG�FJoJBLRJ�WJCmFp�}?p�NGBGBFLF�J�FO?B?EO?@e�WLDm�CJEOe��HCI?Q?�|JEE\p�B?oJRJ�o��H�F�?KCe�@JEIDRLFCJ@J�QGB?\@J'�:L�m�KmFWLEL�S�RJ�m�SKeEI�FNLBm�T�HR?NM\@JK?FQm�B?OJ'�A?W�CG�BLT�F@JBLUEIp�\O�DmBmp�CGTCLCm�QGB?�'�bJCeEIELO�DRLFC?p�}?�S�W?R?FmOJ�CG�K?BmFCUUEI��@'

`�TLNB?N?CeFLFp�}?o�DEBmRIMm�FJDR?FJRJ�DF?��Ke@OJp�O?RJpF�NBJQ?|JH�?oDELFJCLHp�CLNBJORLKp�NmK�WLD�FJoeHe�C?F?��FmSCJp

ZZ.

F?CJ�FJH?KJ@eEI�T�RmDmFp�TLS@LEJ@eEI�@mDEL�S�DGRLp�}?o�DEBmWLEJDF?�H� CLSoRJ|WJHp� }?o� FDELC?FRUFLEJ� FRLKe� eOBL�CDIO?Q?CLB?Ke'

0LOL�EG@L�DEBmRIM\@�Ke|G�K?�FN?K?oJ'�:GU�TLS@LRJD\�@JCGBLT�MmRJ@J�FGW?BL@J'

*�5\FmEI� D?om� ELOGp�*� OL|G� ?KJC� mT� DEBmRIMmF'�*�1DINBJQ?|JS� CL@�@?@GCEp� eKLB\f@?� N?� F?B?Q?Fm'�2mKCm@LUEID\DGRLp� L�@J� T� QmBp� RmDmF� m� NmRI� mKG@?�CL�@mDEL'�:LB?K� FJSKG�CLFeRJMm�FmELEJ�DF?�H�F?�CmF'�=J�|p�NBJN?B?�GCm�NJR?@�BGF?RUMm�pH?W� FE?@RGCmp� T� DJFJC?U� e� F?R?DDmp� T� ?oRJWW\@p� N??BLCJ@T@?B�OL@Jp� T� oRJTCL@J� CL� EmRmp� oeKG@?� �eOLEJ� BmKCJH� mTCLS?@JH'

*�_G�EL@�TCLSKG��BmKCJH�Lo?�TCLS?@JHp�*�K?KLf�mC�JS'�*PL�E?S�WLD�FJB?DR?�C?FG�N?O?RmCC\p�\OG�CLD�CG�TCLf�m�RJ�G�WeR?NB?�CL�e�o?B?EIoe'�8�B?KJCe�EBGoL�oeKG��eOLEJ�KGDI�N?�4JomBLH'

1DI�DE'�FmDE'�7JoLROL�OL|Gg*�5\FmEI� D?om� ELOGg� \�@LB�eU�FeRJM\@J�@mDEL'�_JFRUDIp

L|�EeE�SKG�\OJSDI�FmSDIO?FJS�T�\O?UDI�NLCGU�NmK�BeOe'�_JFRUD\eFL|C?p�L�E?�CL��XLSKLWJDIO?'�`O�D\�@Lf�p�KBe|G�T�F?SCJ��8XLSKLO�K?�@GCGg��_Be|G�7JoLROLp�@LU�WGDEI�NBGKDELFJEJ�<LD@?�S�KBe|JCm'�2B?�e�K?�@GCG�F�Q?DEm�'�1E?�oeKG�FGDGR?'

:L�RJM\H�DEBmRIMmF�}LDRJFm�eD@m�OJ'*�`�FL@�DOL|e�RmN�Gp�*�?TFLRLD\�FmDE'�0GE\CL'�*�>Ke�\

FeRJM\@J� 6JfFLp� KJFRUD\p� @LB�ef� \OGDI� FmSDIO?'� <Em@NmK+�|K|Lf�O?@LCKJB�ABmC�EL�OL|Gg��0GE\C?p�\�SKe�FmKoJFLEJ/G@OmF}JCe�'�:L�QLB@LEm��KG�H?B'�=JB?C�m�OBJWJEIg��8ER\CEJOp@J�SKG@?�CL�RG@OJ�'�XLWe�<JH?BLp�4mB?Q?p�4NLBELOLp�m�FDm�F?CJ�KeEI�FmKoJFLEJ�Em�TG@Rmp�CL�\OJH�O?RJDI�F?UFLRJ'

*�XBLF?��5BL��*�TLOBJWLRJ�FDm'�*�8RG�S�FJ�T�CL@Jp�KBe|G0GE\C?�

>�ELOp�@?F�KmEJp�NR\Cef@?�oL|LCG�@LSoeECf'

Y RUa��$U%!T

=LS|G�FDm��KBeTm�DNLRJ'�_J|eBCJS�N?BLFD\�omR\�NGWmp�FLBJFDCmKLC?Op� L� mC�JS� CLK� oeCOGB?@p� omR\� O?@JCLp� B?TQLC\F�JCGRGU�KJ@p�o?�TBLKRJFJS�@mD\MI�TLQR\KLF�K?�CL�?Q?�FmOL'

`�TQLKeFLF�WLDp�O?RJ�Tm�DF?fU�D?ECGU�BGSKeFLF�N?�6LBNLELH'�G� oeRL� D?EC\p�}?� DORLKLRLD\� EmRIOJ� T� RG@OmFg��mDEI� K?oBG

ZZ�

?ToB?fCJH�W?Ep�FL|Om�OeRG@GEJp�?KCL�QLB@LELp�BmS�OmCC?EWJOmFp@mCGBmFp� W?EL� LFE?@LECJOmF'� 4?EC\� oeRL� N?KmRGCL� CL� B?�g�d?BEmF�p� �_eHmF�p� �0BLF�p� �7Jo�p� �6FmEmF�p� �PFmBmF�p� �2ELHmF�p�/G@OmFDIOJH�QmB�p��/G@OmFDIOJH�N?E?OmF��m��/G@OmFDIOJH�BmO�'4?EC\� TFGRL� q��� o?�Fp� T� MI?Q?� EmRIOJ� EBJ� oeRJ� ?o?B?CCmp� FDmmC�m�*�CLDEeNLRICm'

4N?@JCJ�N?FDELCDIOJH�B?OmF�FJBeUEI�F�Q?R?Fmp�@LRUUEID\ELOJ@J� WeK?FJ@J� O?RI?BL@Jp� \OJH� CG� TCLSKG@?� CL�|?KC?@e?oBLTmp��H�@?|CL�e\FJEJ�EmRIOJ�E?Kmp�O?RJ�FJ�f�F?�C?@�528p�*F�B?TNLRm�o?Up�F�N?FC?@e�RGEm�CL�F?B?QL'�0?Km�FJ�oLWJEGp�\O�CG?KC?@e�DEmOLf�OB?Fp�L�FmC�CG�H?WG�SEJ�K?TLKep�EmRIOJ�FNGBGK'

2L@+\ELU�DF?Q?�DEBmRIM\�0JBDep�T�DGRL�=j?p�\O�FmCp�BLCGCJSF� C?Qep� F� CLDEeNm� CL� <12� F� `DGROep� DOLOLF� CL� ?KCmS� C?Tm� mOBJWLFg

*�AR?NMm��PL�@C?U��<NGBGK�<mC� oeF� E?Km� F� B?�� �0BLF�p� F� W?Em� NmK� O?@LCKeFLCC\@

N?B'� <mEBL'� 6?RJ� KmDELF� CLOLT� mEJ� K?TLKep� MG� oeR?� KR\� CI?Q?CLSomRI�?U� OBJFK?U'

*�`O}?�o�\�oJF�BLCGCJS�m�CG�oLWJF�OmCM\��:JQKL�CG�SKeK?�TLKep�L�SKe�QJC�ELKJp�OLKJ�Nm�RJ�@?��HR?NMJ'

XLWe� �mDECLKM\EJBmWC?Q?p� NGBGoBLC?Q?� TL� NLDEe�OLpDEBmRIM\�2GEBJOLp�}?�om|JEI�CL�B?TFmKOe�@m|�2?RIDIOG�<mSDIO?'

1DI� �mDECLKM\EJBmWCJS� 4RLFO?� T� DGRL� djL'� PoJBLf?H?ECJOmF� SEJ� FJOBLDEJ� OmRIO?H� N?RIDIOJH� ?~mMGBmF� TjN?@m|FmSDIOLp� }?� N?DeFLR?D\� WGBGT� DGR?� <jU� K?� XjL'� >� MG� S?@eoRJDOeWG�FKLfEID\'

0L@� TC?Fe� TLFT\EJS� DE'� FmDE'� 1DEB?FGBH� F� B?TQLBmCLSomRI�?Q?�o?U�F�DGRm�2BeDIOe�F|G�QBLf�CL�F?B?|mS�QLB@?�Mm�^}G�2?RIDOL�Cf�T�mCGRL�p�}?o�K?KLEJ�DEBmRIM\@�FmKFLQJ'�V�?FFmC�CL�F?B?QLp�\O�eBLQLC'

2?B'� <mEGB� T�/G@OmF}JCJ� FmEB?@p� DF?fU� OBJRLE?U� .j?UW?E?U�TK?oeFLf�F?B?|m�QLB@LEJ�m�F|G�T�CJH�o+f�N?�F?B?Q?Fm'

0eE�FGRGEGCIjoeO?FJCGMI�bBm@p�OjB�2�p�DJKJEI�CL�R\~GEmQLB@LEJ� m�OBJWJEIg

*�=L@eCUp�Q?EeSEG�FGWGBU�1DI� TLFT\EJS� H?B'� 1@GRIO?�*� W?E?FJS� qj?�� W?EJ�*

FJDLK|ef� @?DEJ� F� PLQmB+�'� /J�� DEBL�CJS� oRJDO� B?TBJFeF?B?|JH� DEBmRGC� ?DFmWef� S?Q?� B?o?Ee'� <mC� H?R?KC?OB?FC?TLORLKLf�E?Rp�FJDLK|ef�F�N?FmEB\p�OeDCm��ELo�NLKLUEI�omR\

ZZZ

CI?Q?'� <|G� Q?B\EI� FLQ?CJp� FEmOLUEI� G@FGKJDEJ� m� N?RIDIOmF?\OJ'

<mC� TK?oeFLf� oeCOGBJ� omR\� DELCMm��=?OBG� m� EGRG~?C?@Q?F?BJEI� T��ELo?@� N?RIDIO?�� KJFmTm�� F� 4\C?Mm'� <mC� DEBJ@efG�GR?CJ�o?RI�GFJMIO?Q?�FmSDIOL�CL�DELCMm��:?F?DmROJ�mp�CG@?FHLEOe�T�OLBEp�B?TC?DJEI�KF?N?FGBH?Fe�DELCMmU'

b?B\EI� N?B?|Cmp� T?FDm@� FJDGRGCm� DGRL'� <� DL@�4F\EjFGWmBmKeEI�@?���O?R\KCJOJ��T�K?FQJ@J�|GBKLOL@Jp�H?W�OBeQ?@�OJNJEIomSp�NLR\EI�FJDGRGCm�DGRLg�_?�O?p�6?B?RJOp�X?R?ECJO'

1DI�FGKeEI�D?ECU�N?R?CGCJH�F?\OmF�<2�T�o?U�TL�`DGRO?'_LRm�*�NmFD?ECm�T�o?U�TL�<JD?WLCJ'�1DI�RG|LEI�w��F?B?|JHEBeNmF�omR\�=?B?HmFDIOJH�QmB'�0L@�B?ToJE?��ZjJS�N?RO�NmH?EJ<2'

XLWe� �Hp� \O� K?FQJ@p� DEBmRGMIOJ@� B\K?@� N?DeFLUEID\DCm|CJ@�XGDOJK?@p�Q?R?KCmp�FE?@RGCmp�NGBG@?|GCm'�PL�CJ@J�FN?Q?CU� SKG� F?B?|L� KJFmTm\'� XGT� ELo?BmFp� e� DCm|Ce� TL@GEmRIpDJK\EI� omR\� F?QCJ}p� KCUUEI� m� C?WeUEIp� NGWeEI� �oLCKeBOe�p�K\EI� DJBGp� BmKO?� NBJNGWGCG� CL� F?QCm� @+\D?'� 7LCO?@p� O?RJFDELCeEIp� T� ?KC?Q?� o?Oe� L@GBJOLCDIOL� �JCGR\� ?NLRGCLp� TKBeQ?Q?�*�?o@GBTRL'

<� RUEep� ?DmCCU� TRJFe� N?DeFLUEID\� q[� OmR?@GEBmF� CL� EGp}?o�NBJCGDEJ�OLBE?NRU�K?�RmDe'

4OBJFLFRGCm� MmR?KGCCJ@� o?f@� F� /eNOmFDIOJH� RmDLH� TF?B?|?U�KJFmTmfUp�mKG��H�q.�mT�D?ECmp�EL�CmHE?�T�CJH�CG�CLBmOLfm�CG�DE?QCG'�XLWe��HCm�QBmTCm�CGN?Be�Cm�?oRJWW\p�O?RJ�?QR\KLUEIF?B?Q?@� FJBmTLCm� F� NGCI� PLFLKOe�=?B?HmFDIOep� 6LBRJOmFpTBeSC?FLCe��NJELRIOe'�<?CJ�ORJWeEIg��2?@DEJ��N?@DEJ��<GKJCLDp� O?@LCKJBG��

1Dm\Cm�oRJDO?@�ToB?�p�H?W�FE?@RGCm�S�FJDCL|GCmp�LRG�N?FCmBLK?}mFp�FGBELUEID\�T�TLDmKOJ�CL�4FfBWGFDIO?Q?'

<�CGBmFC?@ep�OBJFLF?@e�o?��CLK�DGR?@�A?MGC?@�WeU�T?SOJDF?�H�F?\OmFg��6?@LCKJBG��:G�RJ�LSEG�CL�N?Rm�o?U��PLoGBmEIpLo?�K?oJSEG��

2BJomQLf� DEB'� 6?@LHL'� 6J�OJ� S?@e� FJRLT\EI'� 6BJWJEIg�6?@LCKJBG��_?oJSEG�@GCG��

<?CJp� ?NeHRm� T� Q?R?Kep� FJDCL|GCmp� FJWGBNLCmp� RG|LEIN?O?E?@�CL�TG@Rmp�L�RJMG�O?|C?Q?�NBJEeRGCG�K?�ToB?�p�}?o�FO?|CmS�HFJRJCm�TFGBCeEJ����NB?EJ�F?B?|?��LB@m�p�}?�TL�CL@JFQLC\f�MmRe�FGDCe�*�EBLFGCI�m�WGBFGCI'

ZZ[

:G�D?ECm�ELOJH�OLBEJC�*�EJD\Wm��H�NGBGH?KJEI�WGBGT�e\Fe'dJ�TL�N+\EI�B?OmF�o?B?EIoJ�CG�@?QR?��H�NBJToJBLEJD\�L|�DEmRIOJ�

`OLDI�CGFJDOLTLCL�EeQL�BFGEID\�F�CGKLFCfp�DRLFCG�@JCeRGpTL� DF?�@J� K?B?QJ@J� F?\OL@JjRG@OL@J'� >T� KF?H� D?EGCITLRJ�JR?DI��H�RJ�G�OmRIOLCLKM\EI'�2JELU�DGoGp�WJ�TeDEBmCeDI}G�T�EJ@Jp�}?�TLRJ�JRJDI�@m|�|JFJ@J�

R0����+,�.&��(����/!��&�&�,���/ ��&�����C��� �����,���F��&&����������)F�� �����E������!���0����+����������R��+��1������������/G����0� ����+����%��R���(��WS����CE������CXL�& ��)��/�����0�&0���/���&�'�����������)�&��������������0���)���&�/- ����� �)��/&�(�)���&�W-�� ���/)�����CE������CXW��&�%g������CE�1����CX ��0�%��/�����/�����W���&�CX\)/�+,�+/�+,�+&�� ���%���R)�(��&��� ���,�+/R�����&� ����&�%���2������� ����������'&�/�����/J�3&���������.H

���

PoeKJRLD\�FmDE'�0GE\CL�mp�N?oLWJF�Jp�}?�\�NJ�ep�NBJDmRLO?R?�DE?RJOL�S�N?WLRL�EG|�NJDLEJ'�̀ �FJS�?F�CLKFmB�N?KJFJEJD\m�N?DReHLEJ'�<mEGB��e@mF�KJFC?� m� E?FOD\�N?�CL�?@e�oeCOGBmpCLWG�o�HE?�H?KJF'�:L�oeCOGBm� TLNBJ@mEJF�\p�}?�omR\�O?@JCLCG@Lf� CL�?Q?� @+\DLp� \OG� EL@� FeKJR?D\'� 2mKmS�?F� oRJ|WG� mDN?DEGBmQ�F?FWm�DRmKJ'��G�DmB?@LCGMI�ELO�E?FOD\p�}?o�FmKmBFLEJ@+\D?�FmK�O?@JCL�EL�TLoBLEJ�T�D?o?U'

<GBELUD\�K?�oeCOGBe'�1N?FmKLU�mDE?BmU�T�F?FO?@'�0GE\CLp

ZZY

MmOLFL�N?QR\CeEJ�CL�DRmKJp�FJS�RL�N?KJFJEJD\p�L�\�N?oLWJF�CLORLNEJOe�NLNGBe����CGFGRJWOJS�FmB�'

R��.�������0�,����� �,�/�����+&�����%��%/G����+�����&��(��,�����/$����,�% ���&�� ��%���

`� oeF� CLDEmRIOJ� CGFJB?Te@mRJSp� }?� TB?oJF� K?NJDOe�NJDLEJ�KLRm�'�<Em@�eFmS�RL�FmDE'�0GE\CL'�2?oLWJF�J�K?NJDOepDNLRGCmRL� E?@ep�}?� \� K?QLKLFD\p�}?� F?CL� WJELRL�@mS� FmB�p� mE?@ep�}?� F?CLp� \O� RG@OJC\p� T� FK\WC?DEm� FmKBeH?F?� CLNJDLRLMJH� OmRIOL� DRmF� m� F� N?DNmHe� TLNJDLRL� �EGoGp� RJMLBU� FmRICJS@mS�p�}?� @LR?� TFeWLEJ� �CL��p� ��� oGCEG|JR?� EGp�}?� \� @?|eN?Ke@LEJ� NB?� CG�'� P@m�LCLp� FT\RL� OCJ|Oe� S� WJELRL� ��p� LRGTLF|KJ�CL�?KCmS�m�EmS�DL@mS�DE?BmCMm'

���

_e@OJ�NRJFeEI�?KCL�TL�?KC?Up�@WLEIp�@?F�QCLCm�F�CGTCLCeKLRGWmCI�?DmCCm@�FmEB?@�RJDEOJ'�A?We��H�TLNJDLEJp�EL�CG�F@mU'2B?�e�FmDE'�0GE\Cep�}?o�B?TOLTLRLp�NB?�}?�F?CL�Ke@Lf'

*��mOLFL�\�TCLEJp�\O�|JFGEID\�@?�@�RG@OL@�CL��TG@R\H?KTJDOLCJH�'�dJ�N?FGBCeEID\�F?CJ�}G�O?RJDI�CL�DF?��NBLBmKCmTG@Rm'�dJp�@?|Gp�CLTLF|KJ� TLRJ�LEID\� TL�:mD?U� m�1KB?U�X?UDIp�}?o�MG�CL�G� DRLFCG� eOBL�CDIOG�NRG@+\�CG�NB?NLR?KR\�5OBL�CJp� O?RJ�O?R?� mDE?Bm�� O?EJEJ@GEID\�MmfU�K?B?Q?U}G�KGOmRIOLKGD\E�B?OmF'�2?R\OJ�Q?E?Fm�TLDJ@mRUFLEJ�B?KJCJpB?TOJCeEm� F� We|?@e� @?Bm'� 6?RJ� |� KmSKG� K?� TeKLBe� @m|Cm@M\@J� S� N?R\OL@Jp� E?Km� CL�m� RG@OJ� @?|eEI� DELEJCGFJCC?U�|GBEF?U� �HCmH� N?BLHeCOmF'� dLD?@� Ke@OL@J� \� CLNeDEJB\H�/G@OmF}JCJ'�4ELFRU�D?om�NJELCC\p�HE?�T�N?FDELCMmFEL@� }G� EBJ@LfEID\p� \O� F?CJ� KLUEI� D?om� BLKep� \Om� F� CJHN?WeFLCC\�

:LNGFC?�F�4EG|CJMmp�XGBGTMmp�<?Rm�=LEm\�?FmSp��GBCJMmpXGBG|CJMm� TL@G�OLF� F?B?Qp� m� TL@mDEI� RG@OmFDIO?�� @?FJ� WeEJ@LTeBDIOm�NB?ORI?CJ'�5\FR\U�D?omp�D@eEO?@�?Q?BCGCm�CL�m�Q?BJ6C\|CLp�1NmFCJM\p�/?NmCCJOp�=L�eBLp� <GERJCDIOL� N?R?CJCLp�LBJCDIOL� N?R?CJCL� m� CL�� XGDOJKp� }?� NB?� CI?Q?� CGBLTDNmFLUEIg

ZZn

A%(���'�� ���'���1/�� ���% J� ����HJ������� �����������G������������

XL|LRL�o�\�}G�FmKFmKLEJ�F�BmKC?@e�DGRm�MGBO?FMU�m�@?QJRe@LEGBm'�0GNGB�NBJQLKefEID\�@GCm�oLQLE?� T� KJE\WJH�B?OmFp� H?W@?\�@LEeD\�TLRJ�JRL�@GCG�DJB?E?U�E?Kmp�O?RJ�@GCm�oeR?�EmRIOJW?EJBJ�B?OJ'�<DG�|�TLRJ�JRJD\�F�@GCG�DN?@JCJp�NGBG|JEm�TCGU'�XeF�WLDp�O?RJ�\�}Gp�oeKeWJ�eWGCJMGUp�CLNJDLRL�FmB��NB?DF?U�@L@e'��GS�FmB��ToGBmQD\�@GCm�}G�K?�DI?Q?KCm�F�NL@+\Em'

V�R�U$�Z ����#�$�U\"��\

XeRL�CmW�q�DmWC\�qkZw�B?Oe'2?� K?FQJH� B?OLH� NBJDCJRJDI� @GCm� BmKCm'�2BJDCJRLDI� EL

DEBL�CL�CmWp�O?RJ�CL�L�HLEL�oeRL�?oDELFRGCL�FmSDIO?@p�L�N?R\OJTLORLKLRJ� @GCm� CL� BeOJ� RLCMUQJ'�=L@L� oRLQ?DR?FJRL� @GCG?oBLT?@� >DeDL�ABJDELp� EJ@�DELBGCIOJ@�F�W?BCJH�B\@M\Hp�}?S?Q?�KmDELRL�}G�FmK�oLoeCmp�S�OLTLRLg

*�XeKI�EFGBKJ@p�DJCe��ALS�|?KCL�DJRL�EGoG�CG�TR?@JEIp}LDRJF?�FGBELSD\'

/mR\� TC\RL� mT� DF?�H� QBeKGS� NL@+\EO?FJS� FmK� DF?Q?� KmKeC\@GKLRJOp�}?�CL�CI?@e�2?WL�FDIOL�X?|L�=LEJ�S�P?R?Em�<?B?ELF�6JfFm'�<?CL�N?MmReFLRL�S?Q?p�TLFmDJRL�@GCm�CL��JU� m� QmBO?NRLOLRL'�<�EmS�HFJRJCm�N?RIDIOJS�N?RmMLS�FKLBJF����N+\DEeO?@�FQBeKJp�L|�F?CL�N?FLRJRLDI�CL�TG@RU'�:L�NB?}LCC\�DOBJNCeRLTLRmTCL� oBL@Lp� S� @GCG� N?FGRJ� @mDE?@� K?� EUB@J'� /mR\� Nm�RLDRmK?@�TL�@C?Up�H?EmRL�TCLEJp�OeKJ�N?FGKeEI'

6?RJp� N?� OmRIO?H� KC\Hp� @GCG� EBLCDN?BEeFLRJ� T� mC�J@JKBeT\@J�K?�N?�TKep�F?CL�S�RL�TL�CL@Jp�H?W����oJRJ�NBJORLKL@JOBmDmF'�̀ �WeF�Em�eKLBJp�oLWJF����EmCIp�\OL�NGBGDeFLRLD\�/IFmFDIO?UFeRJMGU� N?NmK� @eBJp� L� omR\� CG�� N?HJRL� N?DELEI� DOLE?FLC?�N?RmML\@J� @?f�� DELBGCIO?�� @L@J'�2B?CJTRJF?� TFeWLF� ?ORJO?KCmf�� NLCmp�}?� ORJOLRL� DF?Q?� W?R?FmOLg� �1DELNG��� �1DELNG��<?CL�CGFK?FTm�TL@?FORL�FmK�N?RIDIOJH�eKLBmF'�PmBFLRLDI�EBJF?|CLoeB\p�L�CL��N?�TK�@WLF�K?�XGBGTJ�6LBEeTIO?�'

2B?oeKJFD\�m�eDFmK?@JFp�}?�\�F�oeCOGBm'�6LQLCGMI�oRJ@LfpKJ|eBCJS� FLBJEI� DCmKLC?O'�2GBGKm� @C?U� DELRL� NmKTG@GRICLKmSDCmDEI'

ZZw

:G� TCLFp� WJ� @?�� BmKCm� NmTCLRJ� o� @GCG'� PoB?\� N?HJRJRLBL@GCL� K?K?Re'�2?H?KJ� FE?@JRJ� C?QJp� L� e� F?R?DD\� TLOBLFD\DCm|CJS� mCGS'�4OJoJ�N??BLRJ�?oRJWW\'

:GBLT� H?WGEID\� CLNJDLEJ� K?� CJHp� TLRJ�JEJ� F� \OJH?DITCLS?@JH�RJDELp�}?o�O?RJDI�S?Q?�NGBGKLRJ'�:G�TCLUp�WJ�F?CJK?FmKLUEID\� O?RJDI�}?DI� NB?� @GCG'�=J�|JFG@?p� o?BG@D\� mN?F?Rm� FmKH?KJ@?'� :L�L� o?B?EIoL� TLRJ�Lf� DRmKp� F?CL� CGNB?NLKLf'�>�T�CGU�TLRJ�LUEID\�F�CLB?Km�CL�m�NDGFKL'�AE?�OBJFD\NmK�EJ@J�NDGFKL@J�*�@mRIS?CJ�CG�oeKeEI�TCLEJ'�:L�m�TLNJDOJNB?NLKLUEI� F� NmKTG@GRR\Hp� OBJ�FOLH'� 0mp� HE?� NB?� CJH� TCLfpFmKH?K\EIp� m� FDG� EG� TLRJ�LfEID\� ELSC?U� CL�?�� BmKC?�� TG@Rm'=?|Gp� O?RJDI� mDE?BJOJ� DH?WeEI� TL� EJ@J� TLNJDOL@J��eOLEJ'8RG�WJ�N?�DEmRIO?H�B?OLH�Te@mUEI�F?CJ�}G�oeKIj}?�FmKWJELEJ�

:GFK?FTmp� �� DmWC\p� F� DI?@e� BmWCJMU� eB?KJC� @?f�CLSK?B?|W?�� K?CGWOJ� /mRmp� NBJDCJRLD\� @GCm� F?CL� DL@L'� `NB?OJCeFDI�m�@Bm\F�NB?�CG�'�=GCG�@eWJR?�NJELCC\p�WJ�F?CL�}G|JFGp� WJp� @?|Gp� ��� TL@eWJRJ'� XeF� WLDp� }?� K?� @GCG� CL/G@OmF}JCe�K?H?KJRJ�FmDEOJp�}?�@?U�/mRU�FoJRJ�R\HJ�F�BmKCmSHLEm'�9��Q?R?FOe�B?ToJRJ�K?�?KFmBOLp�OJCeRJ�CG|JFe�CL�TG@RUp@L@e�TLoBLRJ�F�EUB@ep�L�N?Em@p�NBJFmF�Jp�omR\�HLEJ�TLDEBmRJRJ'

�/mRU��`O}?�|JFG�p�Lo?�\O}?�EJ�FFmS�RL�e�FmWCJS�DN?OmS*�NB?DEJ�@GCmp�}?�N?OJCeF�EGoG�CL�ELO�K?FQ?��

6?RJ�\�FmKH?KJF�K?�528�m�NB?}LFD\�F?DELCCf�T�E?o?Up�EJpN?WeF�J�K?FO?RL�NRLWp�FJomQRL�DRmK?@�TL�@C?U�m�OBJWLRLg

*�0LEe��0LEe�@mSp�FGBCJDI��0J�F|G�/mRU�CG�RUoJ�p�}?���RJ�Lf���/mR\�NmKG�T�E?o?U�

2B?DEJ� @GCmp� }?� F� MU� HFJRJCe� ?KeBJF� \� EGoGp� OLTLFFJQR\KLEJ�OBmTI�FmOC?p�ELE?�DO?B?�FGBCGEID\'

0J�FJQR\KLRL�K?FQm�B?OJ'�dJ�FJQR\KLf��}G�KLRm��4I?Q?KCm@JCeR?�E?om�Dm@�B?OmF'�`O}?�|JFG�p�WJ�N?MmReFLF�EGoG�HE?�FQ?RmFOep�}?o�EJ�MFmRLp�B?DRL�m�DJR�CLoJBLRL�

�(����� ���0������/L����&�/��'�/���1������G������ &���/B����� �!��(����W ����/�������%/&���� �CX

6?RJ� EJ� @GCG� TLoeRLp� E?� H?We� E?om� NBJQLKLEJ� OLBEJCepO?RJ�EFmS�ELEO?�oeF�omR\�EGoG'�6?RJ�@GCG�TLoBLRJ��GDELNmFMm�FEUB@ep�EJ�NBJS�RL�CL�N?oLWGCC\�K?�@GCG'�<�EUBG@CmS�Om@CLEm

ZZk

oeRJ�}G�EF?��EGEJ�>BJCLp�:LELROL�m�8Bm\KCL'�0J�@LRL�F�E?S�WLDEBJ�B?OJ'�6?RJ�NBJFGRJ�@GCGp�EJ�@GCG�TBLTe�NmTCLRL�m�TLOBJWLRLg�1��E\E\E�@mS�p�*�m�NBJNLRLp�\O�TLF|KJp�K?p�@GCG'��GDELNmFGMI<mRUD� KLF� E?om� �?O?R\Ke'� 0J� FmKFGBCeRLDI� FmK� CI?Q?� m� CGNBJSC\RLp�OL|eWJg��:G�H?We'�0J�R\RUjELEL�FmKKLS���6?RJ�NmDR\N?oLWGCC\�@GCG�NB?FLKJRJ�K?�OL@GBJp�EJ�}?DJRJ�OBJWLRLg

*/\RUp�R\RUp�NeDEJ�ELEL�_GO?RJ� NBJC?DJRJ� EGoG� K?� KF?BLp� K?� OLCMGR\Bm�p� KG� \

NBLMUFLF'�0J�oBLRL�NGWLEOe�F�BeOe� m�FJEJDOLRL� ���CL�NLNGBm':LBLT�DELFLRL�EJ�F�TGBOLRm�mp�N?oLWJF�J�EL@�KBeQe�/mRUp�NJELRL@GCGg

*�0LEOep�W?@e�F?CL�N?OBJFR\fEID\�@GCm�8o?p�DELF�J�e�FmOCmp�NJELRLD\g*�0LEOep�L�W?@e�RmD�TGRGCJS�0J�CG�TCLRL�E?Kmp�}?�TGRGCJS�RmD�DELCG�KR\�@GCG�CL�K?FQm

B?OJ�NBJDELC?FJ}G@p�BmKC?U�HLE?Up�NBJ\EGRG@�m�F?B?Q?@'7LT�EJ�omQRL�K?�@GCG�CL�NBJFmELCC\p�DNmEOCeRLDI� m�FNLRL'

:G�NRLWeWJp�o?�MI?Q?�D?B?@JRLDIp�EJ�DOLTLRLg*�1Sp�ELEep�E?�FDG�WGBGT�EGoG�/mR\�FNLRL'dJ� NL@+\ELf�p� O?RJ� FGBCeFD\� \� T� EUB@Jp� TLoBLF� EGoG� F

RmD?O�m�EL@�EJ�oLFJRLD\p�EJ�TL@JOLRL�?Wmp�OL|eWJg*0LEeDUp��eOLS�@GCGp�/mRm�CG@L'8�O?RJ�\�DH?FLFD\�m�EJ�@GCG�TCLS�RLp�T�BLKmDEU�Q?F?BJRLg*�8p�F|G�@LUp�@LU'�`�EGoG�QR\Kmp�QR\Kmp�L�EJ�EeE'*�2JELS�DF?f��@L@eDm'�<?CL�E?om�B?TOL|G�oLQLE?p�oLQLE?'<L|O?�@GCm�EGNGB�NJDLEJp�TQLKeUWJ�EGoG'�`O}?�FNLKep�E?

NL@+\ELSp�}?�oLEIO?�EFmS�o?B?FD\�TL�5OBL�Ce�m�TL�CG��TLQJCeF'0J� FJB?DELS� m� oeKI� @GDCJO?@� TL� CI?Q?'� :GBLTp� oLWeWJ� ELOm@LRGCIOm�/mRmp� \O� EJp� N?BmTLCm� N?RIDIOJ@J� m� o?RI�GFJMIOJ@JoLQCGEL@J�F�DGRLH�PLFLKMm�=?B?HmFDIOmSp�6LBRJO?Fmp�0GBMmp�\S�?F�@GDCJO?@�CL�F?B?|m�FmKKmRJ'

`O}?�N?FGKGEID\�E?om��eOLEJ�DF?Q?�ELEOL�@m|�EJD\WL@J@?QJR� N?FDELCMmFp� E?� NJELS� RUKGSp� KG� DN?WJFLf� ABmC'<JB?DELSp�@mMCmS�EL�SKJ�TLF|KJ��R\H?@�FmKKLC?DEJ�5OBL�Cm'0LEO?�EFmS�CmO?RJ�CG�TLHJELFD\�F�o?Up�L�O?RJ�NLKLFp�E?�FmKeE?@Jp�FmK�F?B?|JH�OeRI'�5�CLD�F�Mm�KCm�CG@Lf�CmO?Q?�N?TLKe'<Dm� mKG@?� @?QeECm@� @LB�G@p� }?o� NBJCGDEJ� F?RU� 5OBL�CmpNBJCGDEJ�}LDE\� m� OBL}e� K?RU�@mRIS?CL@�@LRGCIOJH�/mRI'0LOJ@p�\O�EJp�}?�DEBL|KLUEI�F�5OBL�Cm'��?o�F?CJ�omRI�G

Z[�

CG� DEBL|KLRJp� }?o� oLEIOJ� CG� TLRJ�LRJ� �H� CL� N?ELRe� F?jB?Q?Fmp�}?o�F?CJ� TL�CJ@J�CG� Ee|JRJ�*�e�FmRICmS�eOBL�CjDIOmS�KGB|LFm'

7LKmSp�}?� ELEO?� EFmS� oeF� eWLDCJO?@� FGRJO?Q?� N?H?Ke� FOBJFLFm�KCmp�F�CLDJWGCm�N?|G|L@J�C?Wmp�EL�DCJF�BLSKe|Cm�DCJNGBG@?QJ�m�F?Rm'

U ��Y���U �$

5�K?FQm�TJ@?Fm�FGW?BJ�CL�G�DGR\CDEF?�FGDI�WLD�?N?FmKLfNB?�N?FDELCMmF'�4ELBm�oLoeCmp�KmKeDm�?N?FmKLUEI�NB?�QGB?SDIOmWJCJ� �CL�JH�� HR?NMmF� m� KmFWLE'��mCOJ� EeBoeUEID\� EJ@p� \OCL@� NB?H?KJEI� TJ@L'� _mFWLEL� omR\� OeKGRI� m� HR?NMm� T� CJ@JDNmFLUEI�FGW?BL@J�EmRIOJ�N?FDELCDIOJH�NmDGCI'�<�Mm�K?FQm�FGW?BJF?CJ�DL@m�eORLKLUEI�NmDCm�NB?�N?FDELCMmFp�@LS|G�k��FmKD?EOmFN?FDELCMmF�*�MG�DGR\CDIOm�KmEJ'

P�4JomBe�CLKH?K\EI�RJDEJp�F�\OJH�TLDRLCm�?NJDeUEI�DF?f|LHRJFG�|JEE\�m�NGBGDJRLUEI�NBJFmE�*�\O�F?CJ�CLD�CLTJFLUEI*��@?�@�D?R?F+\@p�QBJoL@�F�RmDm�'�<?CJ�T�CL@J�DGBMG@�m�Ke�GU'

1KC?Q?�KC\�@J�N?WeRJ�DNmFg

A%/����%��/����,�(��/,�&'���,���������%1�������&���������F��-���������h)�&D������� �,���/��������� &���/E�1������������������B���.)�� �����E�1�)�����K�����0���/'�������0�&���/a����%����&��� ���/�������0&���������0���F�����)�����/'�������0�&���/ ���������(���0�����/��&'���'�&����

2?DELFL� eOBL�CDIO?Q?� CLDGRGCC\� K?� F?B?QL�*� NB\@?QGB?SDIOL'�=?|CL�o�CLFGDEJ�EJD\Wm�NBJORLKmF�QGB?SDEFL'�=JpDJK\WJ� F� oeCOGBmp� NmK� TG@RGUp� ELO?|� Ke@OL@J� omR\� CL�?Q?CLB?Kep� o?� TL� S?Q?� }LDE\� m� F?RU� @J� DELRJ� K?� o?U� To?RI�GFJMIO?U�m@NGBmfU'�dLDE?�DEBmRIMm�DELFR\EI�NJELCC\p�}?F�MU�N?Bep�NGBGK�7mTKF\CJ@J�DF\EL@Jp�B?oR\EI�KmFWLELp�HR?NMmp\OJH� NmDGCI� DNmFLUEI'� 4NmFLf@?� CLB?KCm� NmDCmp� ?D?oRJF?FmDE'� 0GE\CL� TCLRL� Ke|G� oLQLE?� RG@OmFDIOJH� NmDGCIp� L� ELO?|DE'�FmDE'�7JoLROL'''

���

<|G�CmW�NGBGK�4F\EjFGW?B?@'_J|eBCJS�NmK�NB?F?K?@�FmDE'�0GE\CJ�FLBJEI�N?EBLFJp�\Om

Z[q

@?|eEI� WGOLEJ� K?� TLFEBL�CI?Q?� FGW?BL'� <� KGCI� NGBGK�4F\EjFGW?B?@�@J�FT\RJD\�K?�B?oRGCC\�N?B\KOmF�e�oeCOGBm'�0GE\CL?oEJBLf� N?RJWOJp� DEBmRIMm� DORLKLUEI� OCJ|OJp� @JUEI� NBJWepWJDE\EI�K?RmFOep�L�TjNmK�CG��FJWGBNeUEI�F?Kep�}?�CLNRJRL�K?TomBCJOL'� 2?N?ReKCm� H?B'�=JB?C� NBJCmD� \RJCOe� m� N?WLF� ��NBJOBL�eFLEJ'� :LFm�ef@?� FDGp� }?� RJ�G� @?|G� TCLSEJD\� FCL�JH� e@?FLH'� :L� DL@� FGB�?O� N?FmDJRJ� \CQ?RLp� }?� S?Q?CL@LRUFLRL�0GE\CL'�8�KLRm�EmDEGWOLp�}?�F?CL�CLNGORLp�\oReOLpQLBC?�NBJoBLCm�CLo?�p�RLCMU|OJ�m�NL\MJp�TB?oRGCm�T�Re�NJC\fMI'� 0GE\CL� FoBLRL� ?oBLT�=LEGBm� X?|?�� OFmEL@J� T� NLNGBe� mCLE\RL�DCm|Oe�CL�\RJCOe'

1KCm�EGBRJ�@LOp� mC�m�NBJD@L|eFLRJ�MJoeRU�CL�NBJ@eDm'6?|CJS�DEmSO?FJS�NmDR\� T@mCJ�?N?FmKLf� DF?�� DN?DEGBG|GCC\'4I?Q?KCm�CG�WeEJ�N?DEBmRmF'

:L� DGRLH� FGRJOJS� BeHg� BeoLUEI� KB?FLp� Bm|eEI� DmWOepCLDGRGCC\�NBJQ?E?FR\fEID\�K?�4F\EjFGW?BL'

_?Dm�oeFLR?�ELOp�}?�N?FDELCMm�DELBLRJD\�NGBGoeEJ�4F\EjFGWmB�F�DGRm'�8RG�MG�TFJWLSC?�OmCWLR?D\�D@GBEU�O?Q?DI�F�DGRmLo?�NmTCm�G�CLDO?O?@�CL�oeCOGB'�5Dm�@J�NGBGO?CLCmp�}?�ELO?�N?@JROJ�MI?Q?�B?Oep�@LUWJ�K?DFmK�T�@JCeRJH�B?OmFp�F|G�CmHE?CG�TB?oJEI'

<?B?Q� CmW� NGBGK� DF\EL@Jp� L� }G� omRI�G� NmK� WLD� DF\ECLSomRI�G�CJ�N?BJEI�N?�DGRLH'�<KGCI�T?BJEI�T�FGB�OL�Q?BJpWJ�WLD?@�CG�OeBJEID\�KG�T�\O?Q?�N?FDELCDIO?Q?�oeCOGBe�Lo?WJ�FFGW?Bm�CG�NmKDeFLUEID\�N?FDELCMm�K?�DGRL'�X?RI�GFJOJ�BLK?SKeEI�CL�CL�m�DGRLp�}?o�T�eoJE?Q?�N?FDELCM\�DE\QCeEJ�?K\Q�mFTeEE\'�1D?oRJF?�CL�DF\EL�F?CJ�CL@LQLUEID\�eoJEJ�O?Q?DI�mTN?FDELCMmFp�}?o�F�MGS�DN?Dmo�NBJQC?oJEJ�CLDGRGCC\'�<oJE?Q?NBJF+\TeUEI� O?CGFm� K?� HF?DELp� TQLC\UEI� RUKGS� NmTCLFLEJp� LN?Em@� F?R?WLEI� K?� BLS?Ce'�2BJ� E?@e� N+\CJMm� FNJFLUEID\� K?oGTE\@J'�0?Kmp�T?OBG@Lp�CLNLDEeUEI�KmFWLE'�0L�MG�TCLCJS�~LOEp}?�F�ELOJH�DNGMo?�FOLH�oLQLE?�FGCGBJWC?�HF?BJHp�\Om�KmDELUEIDNGMm\RICG� TLFKLCC\� TLBL|eFLEJ� CL�JH� KmFWLE'� :LSomRI�G�eOLUEI� TL� EJ@Jp� HE?� @Lf� TF+\TOJ� T� N?FDELCM\@Jp� }?o� �HTLBLTJEJ�m�F�ELOJS�DN?Dmo�NGBGKLEJ�MU�CGKeQe�N?FDELCM\@'

2B?�Mm�LTm\EDIOm�@GE?KJ�@J�DO?B?�mC~?B@ef@?�CLDGRGCC\�m?DEGBmQLf@?�@?R?KI'�0L�FEmOLf�FmK�o?RI�GFJOmFp�\O�FmK�TLBLTJ'

:LDGRGCC\�NmTCLf�o?RI�GFJOmF�F|G�CLFmEI�N?�DNGMJ~mWC?@e�TLNLHe���HCmH��JCGRI�m�BeoL�?O'

Z[.

6?RJ�B?T+U�GCm� o?RI�GFJOJ� DEBmCeEI� N?FDELCMmFp� BGFeEIp@?F�o?|GFmRICmp�KJOJ@J�Q?R?DL@J'�_G\Om�T�CJH�DOJKLUEI�T�DGoG�JCGRm�S��e@?Fm�W?o?EJ�mp�CG�TFL|LUWJ�CL�@?B?T�m�DCmQp�om|LEIKGOmRIOL� OmR?@GEBmF� TL� N?FDELCM\@J'� >� f� oLQLE?� FJNLKOmFp� O?RJTCG@?|GCJS�N?FDELCGMI�@eDJEI�NBJSC\EJ�omSp� F�CI?@e�FoJFLf?KC?Q?�WJ�KF?H�o?RI�GFJOmFp�L�E?@ep�}?�CLFLRL�DeCG�KLRmp�K?DEBmRUfDL@�DGoG'�PFJWLSC?�N?FDELCMGFm�FL|O?�FmKDEeNLEJ�E?@ep�}?�FmCTJ@?U� Ke|G�@LR?� H?KJEI� CL� N?FmEBmp� L� NmKTG@Cm� OBJ�FOJ� ELOTCGDJRUUEI�~mTJWC?p�}?�KLRGO?�FmKDEeNLEJ�CG@Lf�DJR'

R��ZV�%R UUV��V�YR\U�c��V��$

2?ELf@C?p� CLF�NJCIOJ� TLOBLKLFD\� N?E?OL@Jp� \BL@J� mQe}LOL@J�4F\EjFGWmB�e�CL��RmD'�=J�FDm�WGOLRJ�NGB�?��TmBOJ'

=GCm� NBJNLKLf� DI?Q?KCm� oeEJ� oLEIO?@� NBJ� FGWGBm'PLTKLRGQmKI� FJH?K|e� CL� oeCOGBp�}?o� NBJQ?E?FJEJ� KmKeHL� ELDmC?p�\OJH�KLFCm�G�DEBmRIMm�NBJFGTRJ�T�DGRL'

0JH?'�_GDI�KLRGO?�F�DGRm�WeEJ�oBGHmE�D?oLO�m�KJE\Wm�Q?R?DJ'2?BLUWJDI� omR\� KmKeHL� CL� CGFGRJWOmS� NB?QLRJCm� omR\� NBJOJjKLCJH� omRJ@� DCmQ?@� \RJW?Op� \� N?oLWJF� \OeDI� N?DELEI'4EJDCeF�J�LFE?@LEp�ToRJ|LUD\�K?�CG�'

XeRL�MG�0GE\CLp�}?�NBJS�RL�TeDEBmWLEJ�NGB�e�TmBOe'�:Go?oeR?�TLOJKLCG�DCm|CJ@J�H@LBJCOL@Jp�m�?DI�@m|�CJ@J�oRJDCeRLNGB�L�TmBOL'

*�dJ�oLWJEG�����*�T�KJFC?U�BLKmDEU��GNCeRL�FmDE'�0GE\CL'`� oLWJF� TmBOe� F|G�BLCm�Gp� LRG� H?EmFp�}?o� F?CLp� 0GE\CLp

DL@L�N?oLWJRL'*� dJ� FJ� FmKWeFLfEGp� KBe|G� O?@LCKJBGp� MGS� KJFCJS

CLDEBmS��4F\EjFGWmB�T�KJE\WJH�RmE�CG�@?|G�TLEGBEJD\�F�NL@+\EmRUKJCJ'�<mC�TLF|KJ�TLRJ�JEID\�DF\EJ@p�WLBmFCJ@p�CGTLoeECm@m� WJDEJ@'

*�2B?�}?�FJ�EGNGB�Ke@LRJp�O?RJ�N?oLWJRJ�NGB�e�TmBOe�*�DNJELF�\���'

*�`p�\O�TLF|KJp�Ke@OL@J�omR\�DF?Q?�CLSK?B?|W?Q?�oLEIOLmp�*�K?KLRL�F?CL� EJHm�Gp�*�omR\�<LDJRIOL�*�X?BL'�`�H?EmRLFmKWeEJp�WJ�FmC�e�MU�HFJRJCe�ELO?|�FJS�?F�Tm�DF?Q?�TJ@?F?Q?oeCOGBe� m��eOLf�NGB�?��TmBOJ'�`O}?�CG�FJS�?Fp�E?�CLNGFCGF|G�FmKmS�?F�e�FmWCmDEI'''�=?|Gp�FL�L�@LRL�/mR\�EG|�KJFJEID\EGNGB�CL�CGo?�m��eOLf�NGB�?��TmBOJ'

Z[�

=J� EGNGB� CG� oeRJ� N?FDELCM\@J'� `O� eDm� RUKJp� oL|LRJTCLSEJ�TLoeEE\�|?BDE?O?��KmSDC?DEJp�NGBGSEJ�F�@BmUp�F�OLTOe'

<mDE'� 0GE\CL� TLKe@RJF?� DOLTLRLg*�=GCm�DL@mS�CG�FmBJEID\p�}?�@J�|JFG@?�F�ELOG�RJH?RmEE\'

PT?FCm� CL�G� |JEE\� @?|G� O?@eDI� FJKLFLEJD\� N?FCJ@B?@LCEJOJ'�0L�F�KmSDC?DEm�CL�G�CGBmFCG�T@LQLCC\�*�MG�}?DI|?BDE?O?Q?� m� CGWeFLC?Q?� F� mDE?Bm�� RUKDEFL'� =J� F|G� ELOTLQLBEeFLRJD\p�}?� F?C?� KR\� CLD� DELf� oeKGCCJ@'�=J� EF?BJ@?@mE� QGB?SDEFLp� LRG� CGFmK?@?p�}?� NB?� MG� KmSKG� K?� CLDEeNCJHN?O?RmCI'

dJ�FJ�TCLfEGp�KBe|G�O?@LCKJBGp�}?�EGNGBp�F�MU�HFJRJCepF� MU� CmW� NmK� DCmQ?@� B?TMFmELf� Q?BGMFmE���GS� MFmE�*� FmDEeCFGDCJp�NBGKEGWL�NB?oeK|GCC\�NBJB?KJ�T�K?FQ?Q?p�TJ@?F?Q?�DCe'^� FmC� DJ@F?R?@� 4NLDJEGR\p� }?� TmS�?F� DNLDEJ� DFmE� m� F?RU5OBL�CJ'�8�EGNGB�H?Km@�K?�oeCOGBep�o?�HR?NMm�WGOLUEI'

���

<H?K\WJ� K?� oeCOGBep� \� NBJFmELF� eDmH� FmDEO?Ug� �ABJDE?DBL|KLfEID\��p�L�FDm�FmKN?FmRJg��4RLFmEG�V?Q?��

6?RJ� \� B?TDEGRUFLF� D?R?@e� CL� NBJWmp� L� H?B'�=JB?C�*NLRLEOJ� EL� eORLKLF� WLDCJOp� NB?D~?Be� m� DFmWOJp� F� oeCOGBm� oeRLMmRO?FJEL�EJ�L'�/JM\�DEBmRIMmF�CG�oeRJ�De@Cmp�LRG�DRI?TJ�EGORJN?�CJH'�<?CJ�oeRJ�N?FL|Cmp�DF\E?WCm�m�QBmTCm'�2mK�NmWWU�EBmDO?EmFF?Q?CIp� FLBJRJ� F?Kep�}?o� OJCeEJ� Fe�OLp� FLBGCJOJp� oLoeRIOJ':L� NBJWm� DFmEJRJD\� EBJ� DFmWOJ'� XLQLE?� �H� CL� \RJCMm'�4I?Q?KCmQ?DN?KJC\�*�FmDE'�0GE\CL'�6?|CJS�T�CLD�WJDEGCIO?�FK\QCeEJS'

1oBLT�X?|?��=LEGBm�?DFmWGCJS�R\@NLKO?U'�<CJTe�N?BEBGEN?RO'�6?C?FLRIM\� m� <?R?KJ@JBmFDIOJS� EBJTeo'

6?|CJS�EJH?p�}?o�CG�N?Be�JEJ�DF\E?WC?��EJ�JCJp�TQLKef@JCeR?BmWCm� S� KLFCm� DF\EL'� PQLKeUEI� KBeTmFp� DF?�H� BmKCJHpB?TOJCGCJH� N?� MmR?@e� DFmEm'

<|G� WLD'� 4ELf@?� F� RLFep� FmK@?FR\f@?� @?RJEFJp� DNmFLf@?O?R\Ke� �X?Q�2BGKFmWCJS�'

2mDR\�O?R\KJ�@?�@�?o?F+\TO?@�oeR?�DOLTLEJ�KGOmRIOL�DRmF'*�_BeTmjF?\OJ�� dGEFGBEJS� BmO� T� B\Kep� L� KR\� KGO?Q?� F|G

N+\EJS� m� �?DEJSp� DF\EOef@?� 4F\EjFGWmB� F� e@?FLH�|?BDE?O?�o?B?EIoJ� TL� NBLFL� eOBL�CDIO?Q?� CLB?Kep� }?o�|JEJ� FmRICJ@|JEE\@'� =J� TL@LCm~GDEeFLRJ� NGBGK� MmRJ@� DFmE?@p� }?eOBL�CDIOJS� CLB?K� ELO� K?FQ?� CG� NGBGDELCG� o?B?EJD\p� K?OJ� CGTK?oeKG�D?om�F?Rm�S�DF?f��DeFGBGCC?��KGB|LFJ'

Z[Z

=Jp�KBeTmp�CG�TLDmKLf@?�K?�DNmRIC?��DF\E?��FGWGBm�Tm�DF?�@JBmKCJ@J�DL@G�E?@ep�}?�CL�CL�JH�TG@R\H�?OeNLCE'�0m�WLBmFCmDF\EL� DF\EOef@?� F� RmD?FJH� CGEB\Hp� F� OBJ�FOLHp� NmKTG@CJHoeCOGBLHp�L�KGHE?�F�DCmQLH'�P�CL@J�ELO�DL@?�DF\EOef�F�ELOJHDL@JH�e@?FLH�CL��eB\K�*�5b<7p�b?R?FCG�6?@LCKeFLCC\�528m�2B?FmK�15:'�4I?Q?KCm�F�omRI�?DEm�CG�TLDmKLf�K?�DF\E?��FGWGBmELO?|�eOBL�CDIOJS�CLB?K'

<L�m�BmKCm�EL�oRJTIOm�B?TOJCGCm�N?�DFmEe�Lo?�OLBLUEID\�F4JomBe'� `O}?� HE?DI� T� CJH� TLRJ�JFD\p� FmC� e� MU� HFJRJCeKe@OL@J�omR\�FLDp�CLKDReHef�CL�N?B?Tmp�WJ�KG�F�RmDm�CG�M?O?E\EIF?B?|m�OeRG@GEJ� m�CG�FJoeHLUEI��BLCLEJ'�2BJ�Fo?QmS�FGWGBmpDNmFLUWJ� O?R\Keg� �<GBCJ� F?RUp� FGBCJ� DRLFe� CL�mS� DRLFCmS5OBL�Cm�p� oRLQLUEI� <DGFJ�CI?Q?p� }?o� oRLQ?DR?FJF� CL�eo?B?EIoe'�:G�WGOLUEI�O?R\KCJOmF'�P�EBJF?Q?U�TLQR\KLUEI�WGBGTFmOCLp�WJ�CG�T+\FR\EID\�o?RI�GFJMIOm�oLCKJEJ�T�CL�|LWGCJ@J�EJOL@Jp�}?�T�ONJCL@J�oeKeEI�D@m\EJDI�mT�DF\E?WCJH�TFJWL�F'2B?EG�eOBL�CDIOJS�CLB?K�DF\EOef�Ke�GU�m�DGBMG@'�:L�FL|OJHB?o?ELHp� F� NmKTG@GRR\H�~LoBJO� m� O?NLRGCIp� NBJ� FJBeom� RmDmFNBJNLKLUEI�K?�TG@Rm� m�oRLQLUEI�CLD�NB?K?F|eFLEJ�o?B?EIoe'>C�m� FJQR\KLUEI� OBmTI� �BLEJ� NGB�?�� TmBOJ� EL� WGOLUEIFJTF?RGCC\'�8�Emp�HE?�OLBLfEID\�CL�FJQCLCCmp�F�ELo?BLHp�ELO?|Ke@OL@J� O?R?� CLD'�1Wm� FDmH� TFGBCGCm� CL� CLD'�=mRIS?CJ� FKmFpDJBmE�m�mCFLRmKmF�WGOLUEI�FmK�CLD�DNLDGCC\'

1DI� F� MU� HFJRJCep� F� CL�?@e� oeCOGBmp� omR\� CLD� Ke�mFNLF�JH� CL�JH� KBeTmF'� 0eE� NBJS�RJ� O?@LCKJBJ� m� omSMmp�}?FNLRJ� CL� N?Rm� o?Up� EeE� BGF?RUMm?CGBJjNmKNmRICJOJp� }?� FOBJ�FOLH� B?TBJFLRJ� DGoG� �BLCLEL@J'� 0eE� CL�m� DGR\CJp�}?� TQ?RJ@J�BeOL@J�OJKLRJD\�CL�OLELp�O?RJ�FmC�FJOJKLF��H�T�BmKCJHHLE'�_e�m�QGB?�F�TLORJOLUEI�CLDg��2B?K?F|eSEG�o?B?EIoe�ELOK?FQ?p�N?OJ�CG�oeKG�5OBL�CL�FmRIC?U��

XL|LU�FL@p�K?B?Qm�KBeTmp�}LDRJFJH�DF\E�<�CL�?@e�m@GCm�DORLKLU�N?oL|LCC\�}LDRJFJH�DF\E�CL�?@e

7GF?RUMmSC?@e�5B\K?Fmp�6?@LCKeFLCCU�528�m�2B?F?K?Fm�15:�<�MU�HFJRJCe�NGBGK�DF\E?U�FGWGBGU�F�LCef@�NL@+\EI�FNLF�JHQGB?�F'

=?FWLCOL'=J�N?WLRJ�KmRJEJD\�NB?D~?B?U'�6?|CJS�FEJBLF�DRI?TJp

}?o�CmHE?�CG�oLWJF'_F?f� DEBmRIMmF� FJDOLOef�}G� CL� oeCOGB� NGBGFmBJEJ� Oe}mp

Z[[

}?o�WLD?@�CL�DL@�4F\EjFGWmB�F?B?Q�CG�TB?oJF�CL@�CGDN?KmFLCOJ'6?RJ�F?CJ�N?FGBCeRJD\p�DmKLf@?�FDm�CL�O?FoJM\H�K?�DF\E?��FGWGBm'

:L�JH� DEBLF� oeR?� KFLCLKM\EIg� o?B}� T� Fe�OL@Jp� OeE\pFLBGCJOJ� T� OLNeDE?Up� OL�L� T� QBe�OL@Jp� QBJoJp� OLNeDELpFLBGCJOJ�T�OLBE?NRGUp�Q?ReoMmp�OFLD?R\�T�DRJFOL@Jp�O?R?WGCJSQ?B?Hp�NL@Ne�OJ� m�De�'�:L�MU�FGWGBU�T�eD\OJ@J�K?KLEOL@JNBJQ?E?FR\RJD\�DEBmRIMm�F|G�TLFWLDe'

4F\EjFGWmB� NB?F?KJ@?� TL� FDm@L� CLB?KCJ@J� TFJWL\@J/G@OmF}JCJ� m� X?SOmF}JCJp� \Om� RJ�G� HE?� T� CLD� TLNL@+\ELF'4F\EjFGWmB�NB?H?KJF�FGDGR?'�6?|CJSp�OBm@�TFJWL�F�m�EBLKJMmSTm� DF?�H� DE?BmCp� ?N?FmKLF� ELO?|� NB?� DF?�� NBJQ?KJ� T� @JCeRJHB?OmF'�1N?FmKLCC\�WLD�K?�WLDe�FEJHLRJ'�2GBGBJFLRL��H�O?R\KL'2?Em@� TC?Fe� ?N?FmKLf@?'� 6?R\KJ� @J� @eDmRJ� ?o?F+\TO?F?FmKO?R\KeFLEJ�FDm'�A?B'�=JB?C�?N?FmKLf�CL@�NGBGomQ�7mTKF\CJHX?Q?DRe|GCIp�L�FmDE'�0GE\CL�DNmFLf�Ke|G�QLBCJ@J�RG@OmFDIOJ@JCLDNmFL@J�oLQLE?�o?Q?DRe|GoCJH�eBJFOmF�T�<DGC?�C?��S�5EBGCmp\OJH� F?CL� TCLf� Ke|G� oLQLE?'� XRJTIO?� NmFC?Wm� FmDE'� <JH?BFJRLTJEI�CL�DF?���oLCEJ��m�QBLf�CL�DOBJNMmp�NBJDNmFeUWJp�BmTCmO?R\KJ'� V?Q?� NLBLKCJS� �LTKmFDIOJS� Q?R?D� ELO� TF?Be�JFDEBmRIMmFp�}?�FmDE'�XLSKLO�DOLTLFg

*�=GCm�H?WGEID\�NRLOLEJ'*�d?@e��*�NJELUEI'*�0L�mT�D@mHe'*�8�@J�Ke@LRJp�}?�MG�S?Q?�ELO��B?TmoBLRJ��DNmFJ�<JH?BL'2mTCm�G�EF?BJ@?�QBeNOJ�m��SKG@?��T�O?R\K?U�?KCm�K?�?KCJH'<|G�K?FQ?�NmDR\�NmFC?Wm'�XLSKLOp�FE?@RGCJSp�TLDCeF'�<JH?Bp

}?o� TBGFLC�eFLEJD\� S?@e� TL� �NRLW� T?� D@mHe�p� }?HFJRJCJNmKH?KJF�K?�CI?Q?�m�NJELFg��XLSKLWGp�EJ�DNJ���p�*�L�O?RJ�F|GToeKJF�S?Q?g��4NJp�DNJp�\�E\�CG�ORJWep�\�EmRIOJ�H?EmF�TCLEJp�WJEJ�DNJ��'

2?F?Rm�F�oeCOGBm�EJHCG'�1KCm�DNR\EIp�mC�m�KBm@LUEI'<� ELOe� � HFJRJCe� \� RUoJF� NGBGQR\KLEJ� DF?�� TLNJDOJ'

1DELCCmS�BLT�DEBmRIMm�NBJCGDRJ�T�DGRL�N+\EI�TLNJD?O'

���

2GB�L�TLNJDOL�*�FmK�K'�^FMm'�6?B?EO?�B?TOL|e�NB?�CG�'�G�eR?@CL�KmFWJCL�T�DGRL��j\'�<|G�NmK�WLD�Cm@GMIO?��?OeNLMm�F?CL� oGBG� LOEJFCe� eWLDEI� e� NmKNmRICmS� o?B?EIom'� P� NBJH?K?@

Z[Y

o?RI�GFJOmFp� L� FmKELO� �KG@?OBLEJWC?���2?RI}m� K?� qkZY� B?OeNBLMUf�DELCJWC?U�F�DF?f@e�DGRm'�6?RJ�F?B?Q�CLDJRIC?�FJOJCeFCLDGRGCC\p�F?CL�CG�FJ�TKJEIp�\O�oLQLE?�mC�JH�DELCJWCJH'�A?WN?QLC?Q?�TK?B?F+\p�mKG�F�NmKNmRR\'�<FGDI�WLD�NBLMUf�F�.j@e�BLS?CmNB?F'� X?BJDL'� PLQ?E?FR\f� DNJBE� KR\��NJELRI?O'� ^FM\� oeRLDNGMm\RmDE?@� FmK� Emf�� B?o?EJ'� 1KC?Q?� BLTe� F� D'� 0jm� N?R\OJCLDO?WJRJ�CL�CG�'�4GR?�oeR?�?E?WGCG'�<?CLp�oGT�ToB?�p�FDOLOefF�QC?�FOe�m�CLOBJFLfEID\�?omBCJO?@'�<?B?Q�NGBGO?NLF�CLFO?R?HLEJp��eOLUWJ�OBJ�FOJp� LRG� ��� CG� TCLS�?F'�:G� TFL|LUWJ�CLDELC� DF?Q?� TK?B?F+\p� WLDE?� NmKF?TJEI� HLBWm� T� CLSomRI�TLQB?|GC?Q?� EGBGCe'� �mHef� ��� NBJ@mBCL� ?D?oJDEL� FmKFLQLpmKGSCmDEI�m�CGTFJWLSCL�FmKKLCmDEI'

qY'w'qkZn�B?Oe�NGBGH?KJEI� F?CL� RmCmU�6GBT?CL� T� QBeN?UoeCW'�XeBGFm\'�8RG�EeE�CG�TCLH?KJEI�FmKN?FmKC?Q?�N?DEe'�>KG�FDGRLp�KG�|JFG�NmFRGQLRIC?'�2?WeF�Jp�}?�\�ELO?|�NGBGS�?F�CLDHmKp�NBJDRLRL�K?�@GCG�TLNJDOeg

W���&�-���.��CT�� �� ��'��3�� �C���'�!��������CJ�'�+ ��� B� ��&�) &��C ��% ��� J�'� ��'����

���B���C E���� �� �� ��� ��3� �������� � &�������/B������ ����0������,����G����+S����&B���/���������0,�&���������&�L��� &����&��� �� ����� &�����,��/�0 ���������&��B���a�����J���&� �����'�������� �������� ,���+� G����+ &�.) ���0�&/ ���� .) ���� ��0�������A�����������%(�'���/��1�0�������/�����������%1��0 &�.�&�% ���� +�������+ �,�����0/����������F��J������0��3�a������/B�& ��������0�,����B��&'�0��& �������,���1�����,�(� ������+���0����c����J������ ���J���/B�,�)�����&�� &��0��)����&�I���0��3��/)��0���1�& ���S����&B���H��'�����������/������(�+/B���������1� ���������� ���+������������������E����&�%�� �/B�����,����/��B�,��&�� ��S����&B���F,��� , ���B�� ��� ����'��� �� I���0 �� ,���1�&�����0����% ���&��������1�%����& ��������� ������ �����%���� ��',��J����� ��������&�� ����%���T�%�� J��)�������C

PY������UYV�i&��X�ALS�?HLBLOEGBJTef����EGp�}?�F?CLp�H?W�DL@L�F�Ce|Km�S�omKmp

Z[n

NB?EG�NBJDRLRL�CL@�KGOmRIOL�NL@Ne�?O�T�|JECI?��@eOJ'�0LOJHRG@OJCI�oeR?�oLQLE?'

#��!VU�"�]V&��" �TU�� �� "$

_BeTm�@?�� F?\OJ� TLDCeRJ'�2?CeB?�DFmEJEI�OLQLCGMIp� EJH?N?BLfEID\� KJ|eBCJS'

PLR\OLC?�T�EeCGRU�FJQR\KLf�CmW'_?�@GCG�F�Q?DEm�NBJRmELUEI�@?��oGT|eBCm�KJE\Wmp�L�N?Em@

UCmp�OBJRLEm�B?OJ'�2GBGK�@?�@J�?WJ@L�?oBLT�Emf�p�}?�FJH?FLRL@GCG� m� F|G� TLBLC\� QLBEeFLRL� KeHLp� NBJQ?E?FR\UWJ� F� KLRGOepEBJF?|Ce�K?B?Qe'�1oBLT�@?f��CLSK?B?|W?��DELBGCIO?��@LEGBm'

PQLKeU'�7LCCm@J�BLCOL@J�OLTLRL�omQEJ�NB\@?�K?�OBJCJMm@JEJD\� H?R?KC?U� F?K?Up� FNBLFR\EJp� FWJEJD\p� L� FmKELOpN?DCmKLF�Jp�SEJ�K?��O?RJ'�2?DEmRI�@?\�oeRL�NB?DELp�F?\MIOLg?KJC�O?Mp�L�NmK�Q?R?F?U�CGFGRJWOL�N?Ke}JCOL'

6?RJ�NBJS�RJ�~GBm��*�EJ�OLTLRL�@GCm�SEJ�CL�NB?QeRIOJ�F6LBNLEJp�FmKFmKLEJ�=LOmFOep�6RUW'�0J�OLTLRL�@GCm�FDEeNJEJ�K?ELf@C?Q?�2RLDEep�K?��njQ?�6eBGC\�m@'�N?RO'�<mE?FDIO?Q?'�̀ �DReHLFEGoGp� m� NRLDE?FG� |JEE\p� @LCKBmFOJ� FJH?FeFLRJ� @GCG'� 0JFJNBLFR\RL�@GCG�NBJoJBLEJ�@?QJRJ�F?\OmF�5b8p�OLTLRL�C?DJEJ�DEJ�N?RmEF+\TC\@�NmK�EUB@e�m�F�7mTKF?�SEJ�K?�CJH�T�O?R\K?UCL�=RJCmFOe'��G�DI?Q?KCm�|JFG�omRJS�OBeO�@m|�eWLDCJOL@JCL�?��BGF?RUMmSC?��o?B?EIoJ�NmK�2?RI}GU�*�K'�=LODJ@p�\O?@eWGBGT�KFL�B?OJ�\�}?KGCC?�C?DJF�HLBWm�K?�EUB@J'

4OmCWJF�J� DGBGKCU��O?Rep� CG� SKe��eOLEJ� KGB|LFC?�N?DLKJp�L�DELU�EmR?jFJH?FCJ@�mCDEBeOE?B?@�F��4?O?Rm�'�A?KJF\�F�KLRGOm�NB?QeRIOJ�N?�2?KmRRmp�2?D\CCm�S�/G@OmF}JCm'�P�DF?�@CGTLoeECm@�KBeQ?@�1'�X'�NRJFG@?�OL\O?@�K?Rm�_CmDEB?@'�<|GE?Km� \� N?RUoJF� NDGFK?� �ABmC�'�PL�@?U� FJH?FC?jCLMm?CLRICeNBLMU�F� �4?O?Rm�� ?NJCUUD\� F� N?RIDIOmS� EUB@mp� ?NmDR\�*�FXGBGTm� 6LBEeTIOmS'� 2BJH?KJEI� T@mCL� ?OeNLCEmFp� m� TC?Fe�GDELNmFDIOL�EUB@L'

�GS� WLD�*� ?DELCCm� EF?�� N+\ECLKM\EI� B?OmF�|JEE\�*� EJNB?FGRL�F�o?RU�S�EBJF?Tm'�XGTRmW�F?B?|JH�B?T�eOmF�m�EBeDmF�FCL�mS�HLEm'�<�MGS�WLD�TLF|KJ�HE?DI�T�EF?�H�DJCmF�DJKmF�F�EUB@mpm�EJ�DF?�@�@LEGBJCDIOJ@�DGBMG@�EBG@EmRL�TL��HCf�|JEE\'

<?DELCCf�\�oLWJF�EGoGp�@?\�DELBGCIOL�@L@?p�FGDC?U�qkZZB?Oe'�2GBGK� FmKH?K?@�F�NmKNmRR\� \�NBJS�?F�K?� EGoG�}G�BLTp

Z[w

}?o� EJp� \O� O?RJDIp� oRLQ?DR?FJRL�@GCG'� 8RG� F� HLEm� CG� TLDELFCmO?Q?'�<Dm�BGWm�oeRJp�LRG�@?�H�BmKCJH�CG�oeR?'�:GKLRGO?�F|GQBJ@mRJ�~B?CE?Fm�QLB@LEJp�m�\�CLNJDLF�RJ�G�TLNJDOeg

Wa,�&��� /���%1�&�����B��� �/�����������0� ��&����)��'�����/�������(�-���.���J���� ��&���/���B�%�����0�,�&�%��C

��1 �����d��X�`� N?WLF� o?B?EIoe� \O� TFJWLSCJS� DEBmRGMIp� o?B?FD\� T

Cm@M\@Jp� o?RI�GFJOL@Jp� omRJ@J� m� WGBF?CJ@J� N?R\OL@Jp� TWGBF?CJ@J�WGHL@J�m�DR?FLOL@J'�4ELF�O?@LCKLCE?@�DNGMm\RIC?Q?FmKKmRe�4Xp�W?E?FJ@�528p�?NmDR\�D?EGCCJ@�m�FOmCMm�O?@LCKJB?@<mKEJCOe'

<FGDI�WLD�@?f��o?B?EIoJ�F�@?�S�NL@+\Em�ToGBGQRLD\�OLBEJCLpO?RJ�@?\�CLSK?B?|WL�@L@L�NmKCm@LRL�@GCG�W?EJBJBmWC?Q?�K?FmOCLp�WGBGT�\OG�\�oLWJF�OmRIOLD?E�DGR\Cp�?ToB?fCJH�F�Be�CJMmpO?DJ�S�D?OJBJp�}?�NmK�NB?F?K?@�@?Q?�oLEIOL�S�RJ�qkqw�B?OeTLS@LEJ�6'

���

PLFEBL� KGCI� DF'� 4EGNLCL'�=?�� DEBmRIMm� DH?WeEI� DORLKLEJ@GCm�N?oL|LCC\'�>�NBJQLKefEID\�@GCmp�\O�F�qkZ[�B?Mm�CL��7?Nm�@?��K?B?Qm�1DEB?FGBHp�XJDEBJSp�`Bp�P?B\CJS�EL� mC�m�BLT?@�T@mDMGFJ@J�DGR\CL@J�SKeEI�DORLKLEJ�@GCm�N?oL|LCC\'

<� qkZY� -'� F� DGRm� 4eB?FJMm� CL� /G@OmF}JCm� N?B'� <mEGBpH?B'� 1@GRIO?p� N?B'� 4?~B?Cp� D?EGCCJS� FJH?FCJH� �\NOLpN?B'�X?ODGBp�oeCW'�2BJDNmF�NBJFGRJ�MJQLCDIOe�@eTJOe�F�HFJRJCmpO?RJ�\�DNLF�CL�K?RmFMmp�CL�D?R?@m�F�DGR\CDIOmS�HLEm'�0?WC?�?�q.Q?KJCm� FC?Wm� oeK\EI� @GCG� WLBmFCm� E?CJ� MJQLCDIOJH� @GR?KmS'2?B'�<mEGB�QBLf�CL�QLB@?Cm�p�L�T�KF?HD?E�QBeKGS�Q?@?CJEI�QBm@OG�=C?QL\� RmEL�'

<�qkZn�B?Mmp�O?RJ�\�DNLF�F�DCmQe�omR\�F?QCJ}L�F�/eNOmFjDIO?@e� RmDmp� DEBmRIMm� TF+\TLRJ� @GCm� D?R?@?U� BeOJ� S� C?QJ� mpNmKCm@LUWJ�K?Q?BJp�DNmFLRJ��=C?QL\�RmEL��EL�OBJWLRJg��4I?Q?KCmFJ�K?�CLD�CLRG|JEGp�@J�FL��O?@LCKJB'��LKLf@?�FJOeNe���0LWJ�@mQ�\�KLEJ�FJOeN�E?Kmp�O?RJ�@Jp�FJDCL|GCm�N?Q?CGU�S�o?\@JpDJKmRJ�omR\�NGWGC?��oLBLo?Rm��<?CJ�DL@m�TF+\TLRJp�LRG�S�DL@mFJOeNJRJ'

b?KJCe�NGBGK�DFmELCO?@�\�TmBFLFD\�CL�BmFCm�C?QJp�N?WeF�J�F

Z[k

oeCOGBm� BeH'��G� FmDE'� 0GE\CL� FLBJRL� FLBGCJOJ'�8�}?�CLKF?BmE?NJFD\� DCmQp� F� oeCOGBm� EGOR?p� m� FDm� FLBGCJOJ�N?NBJRJNLRJ� K?K?�OJ'�4EBmRIMm�OJCeRJD\�N?@LQLEJ��Sp�m�MG�@GCG�ToeKJR?'�<JH?K|eT�oeCOGBep�}?o�NGBGSEJD\�omR\�\RJW?O'�6?RJ�FGBCeFD\p�FDm�DE?\RJF|G�F�B\Km�S�CL�@?U�N?\Fe�NB?DNmFLRJ��=C?QL\�RmEL��EL�DORLRJN?oL|LCC\'�6?RJ�\�N?WLF�K\OeFLEJp�OJCeRJDIp�TF+\TLRJ�m�RJ�GO?RJ�\�?omM\F�FJOeNp�@GCG�B?TF+\TLRJ'�A?B'�=JB?C�NB?WJELFFmB�p�NBJDF\WGCJS�@GCmp�\O?Q?�DL@�oeF�LFE?B?@'�2mDR\�FDmH�MJHMGBG@?CmS�FDG�CL�G�oBLEDEF?�DmR?�K?�?omKe'�XeR?�FGDGR?p�Q?@?CmRJNmDCmp�NLKLRJ�|LBEJ'�2?WLRJD\�T@LQLCC\�@m|�o?SOL@J�S�RG@OL@JpHE?�OBL}e�NmDCU�TLDNmFLf'�_?�NGB�?��QBeNJ�*�RG@OmF�*�CLRG|LRJFmDE'� 0GE\CL� m� DE'� FmDE'� 7JoLROLp� L� K?� KBeQ?�g� DE'� FmDE'� XLSKLOpFmDE'�<JH?B�m�FmDE'�4NLBELO'

#�$`�Y �U ^$�����RVYU$�VR

q.� DmWC\� FGDI� KGCI��LRmRL� HeBE?FJCL'� 6BeEJR?� DCmQ?@pTL@mELR?�\BJ'�2?EmO�TL@GBT'

4I?Q?KCm� BLCO?@� FDm� FDELRJ� T� KJFCJ@J� DCL@J'� 4EmSO?FmTQ?R?�eFLRJp�}?� K?FO?RL� N?� DGRLH� WeEJ� N?DEBmRJ'� <� EGBGCmCGDN?OmSC?'� 0J@� WLD?@� CL@� O?CGWC?� EBGoL� oeR?� KLEJ� K?CLNBLFJ� NJDLRICe� @L�JCe'� <� ELOe� TL@GEmRIp� \O� DI?Q?KCmpCLSOBL}G� FJH?KJEJ� T� oeCOGBe'� >� CG� TCLUWJp�}?� N?OL|eEIWGBQ?Fm� KCmp� Bm�LUDI� FJDRLEJ� DI?Q?KCm� CL� B?TFmKOe� W?E'�2LDLpFmDE'�<JH?BL�m�FmDE'�XeSC?Q?'�2BJ�CLQ?Km�@LUEI�CLNBLFJEJ�ELO?|NBe|JCe�K?�@L�JCJ'�<?CJ�@LUEI�mEJ�RmD?@p�N?NmK�\RJWOJp�}?oF� N?F?B?ECmS� K?B?Tm�@?QRJ�@LDOeFLEJ� DRmKJp� DEB\DLUWJ� DCmQ� T\RJW?O'� 7G�Ee� F|G� TL@GEG� DFm|?�NLKLUWJS� DCmQ'�:L� FJNLK?OpO?RJ�o�NGBGDELF�NLKLEJ�DCmQp�@LUEI�NGBGDJKmEJ�?KJC�KGCI�F�OBJ�FMmp}?o�F�E?@e�|�WLDm�DGR\CJ�N?B?oJRJ�DRmKJ�K?�RmDe'

4EBmRIMm� TQ?R?DJRJ� FmKHmK� m� FmKmS�RJ�}G� NGBGK� FGW?B?@'_BeQ?Q?� KC\� CG� FGBCeRJD\'� <|G� FBLCMm� DEmSO?Fm� TQ?R?�eUEIN?DEBmRJ�N?�DGRLH�m�QeO�@?E?BmF'�=J�FDG�DNLOeFLRJ�m�FGDI�KGCICLKDReHef@?�F�o?S?F?@e�N?Q?EmFRm'

2BJS�?F�FGWmB�*�DEBmRIMmF�CL�JH�CG@Lf'�<|G�NmFCmWp�m��HKLRm�CG@Lf'��?DI�TR?Q?�DELR?D\'��mRe�CmW�CLDReHef@?'�<JH?KJ@?T�oeCOGBe�m�F�B?TDEBmRICmS�|KG@?�KC\'�1KCL�EmRIOJ�FmDE'�0GE\CLH?KJEI�DN?OmSCL�N?�oeCOGBm'

<|G�DFmELf'�0L�?DI� TLQ?F?BJF�HE?DI�F� RmDm'�<mDE'�4NLBELO

ZY�

�GNCeFg��:L�m�'�<?CJ�NBJS�RJ�CL�DFmELCOep�o?�o?\RJD\�FC?WmNmKH?KJEJ� K?� ELo?Bep� TCLUWJp�}?� F� CLD� CLNGFC?� LR\B@� m�}?@Jp�FT\F�J��H�TL�o?RI�GFJOmFp�@?|G@?�TmBFLEJ�@mCJ'

<�oeCOGBm�DEBmRIMm�?N?FmRJg1NmFC?Wmp� O?RJ�@LRJ� FGBELEJDI� mT� DGRLp� NGBGDELF� NLKLEJ

DCmQ'�<GBELEJDI�CG�oeR?�@?|RJF?DEJp�o?�RJ�LEID\�DRmKJ'�4CmQp}?� oeF� CL� \RJWOLHp� N?TKeFLF� FmEGB'� 0?@ep� TQmKC?� T� @?�@JFOLTmFOL@Jp� TLH?K\EI� KCUFLEJ� K?� OBJ�FOJ'� 6BJ�FOL� oeRL� CL.�@GEBJ� K?FQLp� CL� q� @GEB��JB?OLp� CL� NmFE?BL�@GEBL� FJD?OL'b?DN?KLB�@LDOef�FHmK�m�TLH?KJEI�K?�HLEJ'�<Em@�NBJH?KJEI�FmDEOLp}?� F� Q?Bm�CI?@e� OmCMm� DGRL� N?\FJRJD\� o?RI�GFJOJ'� PK?Rm�CI?Q?� OmCM\� NmK+�HLRL� o?RI�GFJMIOL� DNGMo?�FOL� F� WJDRm���RUKGS'�<?B?Q�?E?WJF�DGR?�OeRG@GEL@J�m�N?WLF�B?T�eOJ�TLOBJ�FOL@J'

b?DN?KLB�CGQLSC?�TLEJOLf�FGCEJR\E?BJp�}?o�EeKJ�CG�N?NLFNGD'�<mO?�@LDOef�KGBGF?@�m�QRJC?U'�PL�E?S�WLD�F?B?Q�NGBGF?KJEIB?T�eOJ'�PBJFLf�NmKR?QJp�NGBGO?Nef�TG@RUp�FLRJEI�NGWm'�<?B?|L?oRLFL�NmKH?KJEI�}?BLT�oRJ|WG�K?�@mDM\p�KG�f�OBJ�FOL�DEBmRIMmF'8BG�EeUEI�?KC?Q?�Q?DN?KLB\p�}?�ELO?|�TCLf�NB?�Ee�OBJ�FOe'

<�CLDRmK?O�oBLOe�N?FmEB\�DEBmRIMm�N?WJCLUEI�Ke�JEJD\�FOBJ�FMm�m�DEeOLUEI�e�FmO?'�:L�}LDE\p�Q?DN?KLB�N?WeFp�FDEJQ�}GDO?WJEJp�FmKOBJEJ�FmO?p�FNeDEJEJ�EB?HJ�DFm|?Q?�N?FmEB\�m�TC?FeTL@LDOeFLEJp� TLRJ�LUWJ� ?KJC� FGCEJR\E?B� CGTLOBJEJ@'=LDOeFLEJ� FmC� e@mFp� o?� F� E?@e� WLDE?� FNBLFR\FD\'� 6?RJo?RI�GFJOJ�eFmS�RJ�K?�HLEJp�TLDELRJ�S?Q?�|mCOe�F�N?DEGRmp�LDL@� FmC� FT\FD\� EGDLEJ� OmR� N?� DGBGKJCm� Om@CLEJ'� X?RI�GFJOJTL\FJRJp�}?� oeKeEI� B?oJEJ� EBeD'� b?DN?KLBp� CG� NGBGBJFLUWJB?o?EJp�FmKN?FmFg

*�7?omEI�D?omp�DOmRIOJ�H?WGEG'ALEL� CG� oeRL� Ke|G� NmK?TBmR?Up� m� o?RI�GFJOJ� CG� Ke|G

DNm�JRJD\� T�B?T�eOL@J'<Em@�NmK+�|K|Lf�LFE?@L�JCLp�DELf�omR\�HLEJp�m�o?RI�GFJOJp

\Om�NBJ�HLRJp�OL|eEIp�}?�TLFmELRJ�F�Q?DEm�K?�bLCeR\OL'�bLCeR\O*�BG~GBGCE�4X�*�oeF� e� EmS� OBJ�FMm� E?@e� RJ�G� KFL� KCm'� 0Lo?RI�GFJOJp�}?�NBJ�HLRJ�LFE?@L�JC?Up� m� Emp�}?�oeRJ�F�HLEmCL�?Q?�Q?DN?KLB\p�OJCeRJDI�B?oJEJ�BGFmTmU�F�DeDmKCmS�HLEmp�KGNGBGFGBCeRJ�FDG�K?Q?BJ�C?QL@J'

PL�E?S�WLD�Q?DN?KLB�DEeOLf�K?�DEBmRIMmF�m�OL|Gg*�X?RI�GFJOJ�NBJ�HLRJ�F�Q?DEm�K?�bLCeR\OL'

ZYq

<Dm� oeRJ� DFmK?@m� E?Q?p� }?� CGoGTNGOL� FJDJEI� EmRIOJ� CLF?R?DOe'� b?DN?KLB� K?BLK|ef� DEBmRIM\@� TLEBJ@LEJ� DN?OmS'� <HLEe�FH?KJEI�KBeQL�QBeNL�o?RI�GFJOmF�B?oJEJ�BGFmTmUp�LRGp�O?RJK?FmKLRJD\p� }?� F� HLEm� F|G� ?KCm� oeRJp� Nm�RJ� KLRm'� <?B?QpNGBG�eOLF�J�DGR?p�Nm�?F�B?TDEBmRICGU�F�CLNB\@m�RmDep�KG�oeFCL�� oeCOGB'� :L� MU� FmDEOe� F� DEBmRIMmF� TLF@GBR?� DGBMG'X?RI�GFJOJ�Q?E?Fm�FJSEJ�CL��HCmS�DRmKp�\O}?�S?Q?�CG�NBJOJKLFDCmQp�EL�CLDO?WJEJ�CL�oeCOGB'�6L|eEI�Q?DN?KLBGFm�DReHLEJp�WJCG� WeEJ� FJoeHmF�@mC'�2B?S�RL� Q?KJCL� F� ELO?@e�CLNBe|GCCmp}?�DEBmRIMm�F|G�Bm�LRJD\�FJDOLOeFLEJ�T�OBJ�FOJp�}?o�DEBmR\EJN?�o?RI�GFJOLH�m�TFGBCeEJ�CL�DGoG�eFLQe'

:L�}LDE\p� DRmKJ� DCmQ� TL@mFp� m� o?RI�GFJOJp� N?QBLoeFLF�JRUKGS�EL�CLDEBmR\F�J�OeBGSp�Nm�RJ�CL�mC�m�DGRL'

1N?FmF�J� DF?U� NBJQ?Kep� DEBmRIMm� N?TFmEeFLRJ� NB?� C?FmNBJS?@J� o?B?EIoJ� F?B?QL'� 0GNGB� F� EGBGCm� CG� FJKC?� CmKG�oLDLBLoMmF�p� Cm� �Q?R?KeUWJH�'�:LE?@mDEI� DNGMQBeNJ�}?BLCOe?oomQLUEI� RmDJp� �eOLUWJ� TL� DRmKL@J'� :mWWU� mKeEI� RmDL@JpFJH?K\EI� CL� FGBH� m� T?B\EIp� WJ� CG@Lf� KG� KJ@e'�dLDE?� B?oR\EITLDmKOJ�N?�DGRLH'�bBeNJ�F�WJDRm�FmK�q[�K?����W?R?FmO�NGBGoeFLUEIFKGCI�F�?KC?@e�DGRmp�NmK�FGWmB�FmKH?K\EI�F� mC�Gp�L�CL� �H�@mDMGCmWWU�NBJH?K\EI�mC�mp�Lo?�FGBELUEID\�Em�DL@mp�@LDOeUWJ�F�MGSDN?Dmo�DF?U�NBJ\FCmDEI'�5FmS�?F�J�ELO�K?�DGRLp�KmR\EID\�CL�KFmjEBJ�QBeNJ�m�B?TH?K\EID\�e�FmKN?FmKCm�@mDM\�CL�TLDmKOJ�N?�DGRm'

<� �O?RLH� eKLBC?� ?BQLCmTeUEI� KmEGS� F� �|?FEGC\EL�p�Nm?CGBJ�� m� �O?@D?@?R�'��?o�DE\QCeEJ�CLDGRGCC\�K?�ORUomFpKLRJ�NLEG~?CJp�KGjCGjKG�BLKm?p� LRG�@?R?KI�EeKJ�CG�H?WG�SEJ':LDGRGCC\p�}?�f�F�O?RQ?DNLHp� Ke|G�CLBmOLf'�6?RQ?DNCJOJ�TL?KJC�EBeK?KGCI�KmDELRJ�N?�Z�m�NmF�OLBo?FLCM\p�m�T�E?Q?��@�DE\QCeRJN?� �� OLBo?FLCMm� CL� HLBWm�*� ELOp�}?� O?RQ?DNCJO� TL� @mD\MITLB?oJF�O?R?�Z[�OLBo?FLCMmF'�PL�MG�@?|CL�OeNJEJ�*�\O�OL|eEIRUKJ�*�O?B?oOe���LB?��@LDEJ�'

�%�"�VZ a���U�R$l&�jPNK��V�

A?W�F�MU�CmW�F�CLD�FFGDI�WLD�EBJF?QLp�E?WC?�?�q.�Q?KJCmTeDEBmWLRJ�@J�:?FJS� BmO'�1N?FmKLU� DEBmRIM\@p� \O� E?� O?RJDIFmKoeFLFD\�F�CLD�=LRLCWJC�FGWmB'

1� q.� Q?KJCm� FKLB\f@?� KFLCLKM\EI� BLTmF� K?� oLCOJ� FmKoGCTJCJ'�2GBGK�CL@J�T+\FR\fEID\�DELBJSp�TCG@?|GCJS�KmKeQLC

ZY.

T�K?FQJ@�O?DEeB?@p�T�NGBGFm�GCJ@�@m�O?@�WGBGT�NRGWmp�T�K?FQ?UDJF?U�o?B?K?U�m�DJFJ@�F?R?DD\@g�qkZn�BmO'

*�2B?}LSp�4ELBJS�B?Oep�CG�NBJCmD�EJ�CL@�CmW?Q?'�<mKH?KJe� FmWCmDEI� m� F� mDE?Bm�� DOL|J� TLNJDLEJ� CL�e� o?B?EIoe� To?RI�GFJMIOJ@� DLEBLN?@p�}?� TLOeFLF� F� OLSKLCJp� F� CGF?RUpCLCmD�Q?R?Kp�oGTNBLFDEF?�m�|GBEFJ�eOBL�CDIOmS�CLMm�'

<JDOLOef� @?R?KJSp�UCJS� qkZw� BmO'� P� S?Q?� eDE� NBJDOLfF?Q?CI�*�oGCTJCLp�K@eHLCL�T�eDE� m�TLNLRGCL'� >�F�MGS�@?@GCETCJOLf�qkZn�BmO'�<Dm�DNmFLUEI��=C?QL\�RmEL�'

*�<GKJ�CLDp�:?FJS�B?Oep�K?�NGBG@?|C?��o?B?EIoJ'�<GKJoGT� TLSFJH�|GBEF� m� CGFKLW�*� e� omS� TL� CL�m� CJFJp� TL� \DCJSD@mH�KmEGSp�TL�UCJS�DNmF�}LDRJFJSp�TL�|GBEFJ�@JCeRJH�DE?BmW'<GKJ�CLDp�}?o�TQLKeFLRJ�@J�EGoG�K?FQm�DE?BmWW\p�\O�E?Q?p�}?NBJCmD�CL@�F?RU�

_J|eBCJS� FmDE'� 4NLBELO� N?KLf� CL� DCmKLCC\� o?B}'<mDE'� <JH?Bp� }?o� NmKOBGDRJEJ� BmTCJMU� @m|� o?B}G@FmDE'�4NLBELOL�m�EJ@p�}?�S?Q?�FLBJRL�FmDE'�0GE\CLp�TLWGBNCeF�JR?|O?Up�DOBJFJFD\�m�DOLTLFg

*�8RG�K?oBJS�o?B}p�WeEJ�S?Q?�FmEB?@p�\O�NDL'4EBmRIMm� NmKH?NJRJ� MG� m� N?WLRJ� |LBEeFLEJ'� d?E'� 2LD

N?FL|C?�?N?FmKLfp�}?�CLBGWGCL�FmDE'�XeSC?Q?�FJH?KJEI�TL@m|TL� �MJFmR\�'�2B?�MG� FmC� KmDELF� TLNJDOe'�6Bm@� E?Q?p� K?FmKLFD\NB?�MG�F�DGRm'�4EBmRIMmp�K?QLKLF�JDIp�}?�MG�NmKDEeNp�NmKH?NJRJEG@e� m� N?WLRJ� F@?FR\EJ� FmDE'� XeSC?Q?p� }?� MG� D?B?@� KR\N?FDELCM\p�}?o�S?Q?�N?OJCeRL�KmFWJCL'�A?B'�=JB?Cg

*�:ep� \OoJ�@GCG�N?OJCeRL� KmFWJCLp� E?� \� FJNBLF� oJ� ��� mN?DEBmRJF�oJ��MJFmR\�p�}?�FL|JEID\�|GCJEJD\�T�CGU'

*�_mSDC?p� MG� O?@NB?@GELMm\p� \� TB?oJF� oJ� EG� DL@Gp�*K?KLf�W?E'�2LD'

_LRGOJS�FmK�KmFWLE�DE'�FmDE'�XLSKLO�K?KLFg*�0L�\�oJ@�S?Q?�CG�N?DEBmRJFp�LRG�TLDEBmRJFp�L����HLEe�oJ@

DNLRJF'4EBmRIMm� ?KC?Q?R?DC?g*�0L�\OJS�T�CI?Q?�F?\Op�O?RJ�CL�ELOG�N?TF?R\f�*�0L�FmCp�H?W�m�ToB?U�@Lfp�*�FEBeEJFD\�FmDE'�<JH?Bp�*�E?

o?�EID\��MJFmR\�'�`OJS�T�CI?Q?�F?\Op�O?RJ�FmC�EBG@EmF�FW?BL�FOBJ�FMm'

�G� FJFGR?� FmDE'� XeSC?Q?� T?FDm@� T� BmFC?FLQJ'� <mC� DELFDHFJRI?FLC?�H?KJEJ�N?�oeCOGBmp�TLOeBJF�J�NLNmB?DOe'�:GFK?FTmNmKmS�?F�K?�@GCG�m��GN?E?@�OL|Gg

ZY�

*�_Be|G�O?@LCKJBGp�K?TF?RIEG�@GCm�NmEJ�DI?Q?KCm�F�DGR?�mN?RLKCLEJ�MU�DNBLFe'

�?o�CG�NDeFLEJ�DEBmRIM\@�TLoLFJp�\�FmKN?FmFg*�PQ?KL'�_R\�?H?B?CJ�@?|GEG�D?om�FT\EJ�}G�KF?H�DEBmRIMmF

m�TB?oJEGp�\O�eFL|LfEG'<mDE'�XeSCJS�FK?F?RGCJSp�}?�KmDELF�K?TFmRg*�:ep�\��@�EL@�TB?oRU��o?BJDRLFDIOe�Q?KJCe��/J�G� EGNGB� DEBmRIMm� oeHCeRJ� D@mH?@p� L� T� CJ@J� S

FmDE'� XeSCJSp� N?oLWJF�Jp�}?� MG� FDG� EmRIOJ�|LBE'� <mC� oeFFK?F?RGCJSp�}?�MG�FDG�CGNBLFKL'

4I?Q?KCmp�F�:?FJS�BmOp�DF\E?�DF'�<LDJR\'�<�CL�?@e�oeCOGBm�H� KFLg� FmDE'� <JH?B� m� FmDE'�4mBJS'� <?CJ� WGOLUEI� HFJRJCJp�}?HE?DI��H�B?TO?CDNmBefp�EL�NB?�MG�TCLRL�RJ�Gp�OBm@�CJH�DL@JHpFmDE'�0GE\CL'

<mDE'�<JH?B�*�DGR\CDIOJS�DJC�T�DGRL�2'�=?R?Km�DF?��B?OJNB?FmF�e�oLEIOmF'�/UoJEI�Ke|G�O?CGS�m�WLDE?�NB?�CJH�?N?FmKLf'<mDm@CLKM\EJBmWCJ@�UCLO?@�Nm�?F�K?�KJFmTm���bLRJWJCL�p�}?o?EBJ@LEJ� FJ�OmR'�2mDR\� FJ�O?Re�SKG�CL�~B?CE�NmK�XB?KJp� LTFmKDJ�NGBGH?KJEI�F�B\KJ�528'�PBLTe�oeF�F�D?ECm�OjBL�XLSKJpFmKELO�OjBL�:GWL\p�L�F�qkZ[�B?Mm�?DmCCU�NGBGH?KJEI�K?�D?ECmN?B'� X?BL'� <?\O� T� CI?Q?� TCL@GCJEJSp� FmKFL|CJSp� F� o?UNBJE?@CJS�m�TLBLKCJS'�1KCmfU�T�S?Q?�N?QLCJH�NBJO@GE�f�EGp}?�KGO?RJ�RUoJF�Q?F?BJEJ�CGNBLFKe�m�CG�TLF|KJ�F@mF�TLEBJ@LEJELf@CJMU'�6?RJ�NBJS�RJ�EBJF?|Cm�KCm�CL�/G@OmF}JCmp�FmC�TOmRIO?@L�DEBmRIM\@J�TLRJ�Lf�DF?U�D?ECU� m�SKG� TL�4\C'��GSFWJC?Op�Q?F?BGCC\�CGNBLFKJp�CGK?EBJ@eFLCC\�ELf@CJMI�H?KJRJFDRmK�TL�CJ@�m�NBJC?DJRJ�S?@e�CGRLDOe'�=JB?C�FT\F�S?Q?�K?DGoGp�}?o�NGBGFJH?FLEJ'

<mDE'�4mBJS�N?H?KJEI�T�@LR?Q?�@mDEGWOLp�\OG�S?@e�CG�KLR?oLQLE?'�XLEIO?�S?Q?�N?@GBp�O?RJ�S?@e�oeR?�FDI?Q?�N+\EI�B?OmF'�mTJWC?� K?oBG� ToeK?FLCJS� m� NBJDEmSCJSp� FmKFL|CJSp� LRGCGQBL@?ECJS'� V?Q?� NBJO@GE?U� oeR?� EGp� }?� KGO?RJ� RUoJFNBJDF?�EJ�D?om�We|e�BmW'�0?@e�H?B'�=JB?C�FT\F�S?Q?�ELO?|�T?H?B?CJ�OjBL�6LB@GRUOL�K?�DGoG�*�CL�NGBGFJH?FLCC\'

4I?Q?KCm�DORLKLf@?��@�N?oL|LCC\�m�DNmFLf@?��=C?QL\�RmEL�'0?@e�}?�CJCm�:?FJS�BmO�m�m@GCJCJ�KF?H�<LDJRmFp�K?TF?R\Up

}?o�DEBmRIMm�FCGDRJ�EGp�}?�F?CJ�D?om�NBJQ?E?FJRJp�L�DL@Gp�\OF?CJ� OLTLRJp� �@?R?O?� FmK� DOL|GC?�� O?B?FJ�'� :LSomRI�J@F?B?Q?@� Q?BmROJ� F� CLD� FmDE'� 0GE\CL'� 8RG� DI?Q?KCm� F?CL� BLK?

ZYZ

TLNBLFJRL�DEBmRIM\@�Q?BmROe'�XeR?�WJ@p�o?�F?\OJ�NBJCGDRJ�TD?o?U�O?Ne�\fMI�m�~eCE�MeOBe'

_R\�CG�� DI?Q?KCm�Cf�DF\E?� ELO?|�K?B?QG'�8RG�MG�oeR?� ��?D?oJDE?U�ELf@CJMGU'��G�|�m@GCJCJ����CLBGWGC?Q?p�N?B'�X?BLj<LDJRIOL'�<?CL�FB\EeFLRL�S?Q?p�O?RJ�FmC�HF?BmF�CL�EJ~p�m�NmTCm�GDELRJ�F?CJ�KBeT\@J�FmK�DGBM\'�0GNGB�FmC�TJ@ef�T�DF?�@�FmKKmR?@F�=LSKLCDIOJH� RmDLH'� >� EJH?p� QRJo?O?� F� DGBMmp� F� Ke�m� F?CLoL|Lf� S?@e�}LDRJF?� NGBGTJ@eFLEJp� Km|KLEJ� FGDCJ� m� F?Rm'<mKWeFLUWJ�MGp�@J�TLDNmFLRJ��=C?QL\�RmEL��FDm@�<LDJR\@p�}?o?BUEID\�F�B\KLH�528�m�BGF?RUMmSC?Q?�NmKNmRR\'

A?B'�=JB?C� TLNB?N?CeFLF� DNJDLEJ� CL�m� NGBGKoLWGCC\N?RmEJWCJH� N?KmS� CL� @LSoeECmS� qkZw� BmO'�=Lf@?� MG� NJDLEJ?OBG@?p�TLH?FLEJ�m�TL�BmO�*�NB?WJELEJ'

<mDE'�0GE\CL�N?DELFJRL�NB?N?TJMmUp�}?o�T�:?FJ@�B?O?@@J�TLFGRJ�DL@?FJH?FLCC\�EL�o?B?EIoe�T�FDmR\OJ@J�N?QLCJ@JNBJFJWOL@J'

1oJKFm� NB?N?TJMm�� NBJSC\E?'� <mDE'� 0GE\CL� DELRL� QBLEJ� F�LHJ'� >C�m� DEBmRIMm� QBLUEI� F� K?@mC?'�=J� T� H?B'�=JB?C?@NJ�G@?�CL�m�NGBGKoLWGCC\'

��c�#T�TY] ZTUU\

q'� <� NGB�mS� N?R?FJCm� qkZw� B?Oe� oeKeEI� FmKoeFLEJD\O?C~GBGCMm��m�CLBLKJ�11:'�:L�CJH�KmSKG�K?�oeBHRJFJH�DeNGBGW?O'

.'�b?CJEFL�KF?H�F?B?|JH�ELo?BmF�F�K?ToB?UFLCCm�}G�omRI�GN?DJRJEID\'�PLBLT�T�FGDC?U�oeKG�DJRICG�F?fCCG�CLNBe|GCC\'X?RI�GFJOJ� F� DF?�H� �LFE?C?@CJH�� D?UTCJH� BGDNeoRmOLH� mKGB|LFLH��C?F?��KG@?OBLEm���NGBGNB?FLK\EI�@LD?Fm�LBG�EJ'�8RGFmSCJ�CG�oeKG'

�'� <� bBGMm�� KmSKG� K?� Ke|G� N?FL|CJHp� OBJFLFJH� KmS� @m|WGBF?CJ@J�NLBEJTLCL@J�m�eB\K?F?U�LB@mfU'�<�dGHLH�m�2?RI}mFmKB?KJEID\�NLBEJTLCOL'�<�6JEL��o?RI�GFJOJ�oeKeEI�CL@LQLEJD\?NLCeFLEJ�FL|RJFm�m�DEBLEGQmWCm�NeCOEJ'�P�KBeQ?Q?�o?Oep�4a8oeKeEI� DELBLEJD\� N?@LQLEJ� CG� EmRIOJ�6JELfFmp� LRG� S� mC�J@OBL�CL@p� }?o� N?FLRJEJ� O?@eCmDEJWCm� FNRJFJ'� <?CJDELBLEJ@eEID\�NBJHJRJEJ�K?�DGoG�CGFEBLRICe�cDNLCmU'

Z'� <CeEBm� 4447� FmKoeKeEID\� HFJRm� LBG�EeFLCI'� <GDC?UFmKoeKeEID\�DJRICm�oRI?OLKJ�m�?oRLFJp�}?�NBJCGDeEI�CL@�FGRJOmFEBLEJ'�<mKE\|GCC\�KR\�CLD�oeKGp�O?RJ�o?RI�GFJOJ�NGBGOJKLjEJ@eEI�DF?f�FmSDIO?�CL�XLROLCJ'

ZY[

['�X?RI�GFJOJ�DELBLEJ@eEID\�NB?FLKJEJ�NmKBJFCe�B?o?EeF� 4a8p� <GRJO?oBJELCm�p� �BLCMm�� S� >ELRm�'� XeKG� oLQLE?KG@?CDEBLMmSp�DEBLSOmF'�<��Q?DRLFm��oeKG�B?TO?R'�5��mCR\CKm�oeKG� FJOBJEL� NB?EJO?@eCmDEJWCL� ELSCL� ?BQLCmTLMm\p� oeKeEILBG�EJ�m�NB?MGDJ'

Y'� 4447�*� EeE� DO?CLf� TLQLKO?F?� ?KJC� T� CLSomRI�JHNLBEmSCJH� FGRI@?|'

n'�<CeEBm�OBLU�o?RI�GFJOJ�TCLWC?�N?DJR\EI�NB?F?OLMmU'XeKG� CLDO?O� CL� CL�� NB?FmKp� LRG� oGTeDNm�CJS'� :L� CL�?@eFmKEJCOe� FNLKG� ?KJC� T� O?@LCKJBmF'� A?W� WGBGT� TJ@e� oeKeEIFEBLEJp� E?� FGDC?U� CL�m� FmKKmRJ� oeKeEI� @LEJ� FGRJOm� eDNmHJ':LDGRGCC\�oeKG�Ke|G�BLKmEJ�CJ@J'�XeKG�CLDO?O�CL�@?U�QBeNepFNLKG�EB?f�RUKGSp�\�oeKe�BLCGCJS'

w'� <�/LEFm�p� /JEFm� S� cDE?Cm�� FmKoeKeEID\�@LD?Fm� LBG�EJ� mFJF?TJ� CLDGRGCC\'

k'� PjTL� O?BK?Ce� KmDELCG@?� Ke|G� oLQLE?� MmOLF?�� NBGDJ� mRmEGBLEeBJ'

�"Om�@?��NGBGKoLWGCC\�CL�qkZw�BmO'�:L�|LRIp�CG�@LU�omR\DGoG�NGBGKoLWGCI�H?B'�=JB?CL'

���

<JO?CeUWJ� N?DELC?Fe� FmDE'� 0GE\CJp� @J� TB?oJRJ� KR\O?|C?Q?� T� CLD� CL� ?KCmS� DE?BmCMm� NLNGBe� QBL~mOp� F� \O?@eFNJDeFLR?D\�TL�O?|CJS�KGCI�e�FmKN?FmKCJH�BeoBJOLH�NRUDJ�m@mCeDJp�TLRG|C?�FmK�N?FGKmCOJ�O?|C?Q?�T�CLD'�6?|CJS�DEBmRGMIFFGW?Bm�NBJH?KJF�K?�@GCG�m�TQ?R?�eFLFp�DOmRIOJ�TB?oJF�@mCeDmFm� DOmRIOJ� NRUDmF'� 2?� EBI?H� EJ|C\H� NRUDJ� F|G� BmFC\RJD\@mCeDL@'�`� ELO?|�oGBe�DNmFeWLDEI�F� �T@LQLCCm�� mp� \O�O?|CJSDEBmRGMIp�}?OmRIOL� KCmF� FmKWJEeUp� DOmRIOJ� TB?oJF� @mCeDmF� mDOmRIOJ�NRUDmF'�<�N?FGKmCMm�m�F�@?Fm�DEBmRIMmF�TLS�RJ�K?KLECmT@mCJ'

PL�CL@J�F|G�KFL�@mD\Mm�N?oeEe�F�oeCOGBm'�PL�E?S�WLD�DEBmRIMmTLDF?�RJ� oLQLE?� T� TLeWeFLCJH� NBGK@GEmF'� <� KJDOeDm�� F?CJN?ORJOLRJD\� CL� Ke@OJ� LFE?BmFp� \OJH� FJFWLRJ'� PLNLD� DRmFToLQLEJFD\p� m� ELOJH� DRmFp� \O� �DJCGCIOJ@� MFmEG� m� ~m?RGE?F?NLHCG�p�EGNGB�F|G�CmHE?�CG�N?WeF�oJ'�dLD�FmK�WLDep�?D?oRJF?�FDeo?Eep�NGBGF?K|e�oGDmKJ�CL�EG@e�K?oB?��N?FGKmCOJ'�4EBmRIMmEJ@� TLMmOLFJRJD\'� 2GBGF?KJ@?� MG� ELO?|� NBLOEJWC?'� :LNGBGK?FG� @mDMG� F� CLFWLCCm� FJoJFLUEID\� FmDE'� <JH?Bp

ZYY

DE'� FmDE'� 7JoLROL� m� W?E'� 2LD'� :LSDRLo�G� TLDF?Uf� @LEGBm\RJFmDE'�XeSCJS'�<mDE'�4mBJS�F|G�Q?R?DC?�WJELf�eDEeNJ�T�WJELCOJKR\�q�OR\DJ'�<mDE'�<JH?B�FGKG�DJRICe�o?B?EIoe�T�D?o?Up�}?oCG� Q?F?BJEJ� CGNBLFKJ'� <mDE'� XeSCJS� ELO?|� CG� @?|G� FJToejEJDI� KG\OJH� DF?�H� CLFJW?Op� FmC� CGDRe�C?� FFL|Lf� DGoGCLSFmKFL|Cm�J@'

=J� Bm�JRJ� K?FGDEJ� FmDE'� XeSC?@ep� \O� CL� KmRm� f� T� S?Q?FmKFLQ?U'� <mDE'� 0GE\CL� N?KLRL� NR\Cp� FDm� NmKH?NJRJ� S?Q?� mBGLRmTeFLRJ'� <FGW?Bm� eoBLRJ�@LRGCIOe� \RJWOe� e� FJFGBCGCJSCL� RmFJS� omO� O?|eHp� TB?oJRJ� Q?R?Fep� NBJWGNJRJ�C?QJp� FmKELONBJF+\TLRJ��CeB?Op�\OJS�NB?FGRJ�K?�CeEBL'�2?DELFJRJ�NB\@?FmOL� NBJ� FH?Kmp� L� FmDE'� XeSC?@e� OLTLRJ� SEJ� FmKmEOLEJ� O?@JC'6?RJ� XeSCJS� N?oLWJF� MU� N?EF?Bep� F� oeCOGBm� N?E\QCeRJ� TL�CeB?Op� m�FmC�T�OBJO?@�N?WLF�eEmOLEJ�CLTLK'�<Dm�DEBmCeRJ�MGD@mH?@p� m� FmK� E?Q?� WLDe� FmDE'� XeSCJS� NGBGDELF� HFLRJEJD\p�}?FmC�FmKFL|CJS'

���

2mDR\� 7mTKF\CJH� DF\E� KCm� NRJFeEI� TFJWLSC?��FJKO?p� H?WF?CJ�KG}?�K?F�m'��?o�NBJDNm�JEJ�FGDCep�DEBmRIMm�}G�TL�KC\TBJFLUEI� DE?BmCOe� T� WJDR?@�CL�OLRGCKLBm'�_GHE?�}G�S� E?@ep}?o�T�CG��TB?oJEJ�D?om�MJQLBOe'

d?E'�2LDp�FmDE'�XeSCJS�m�FmDE'�4NLBELO�NBJSC\RJ�N?DELC?Fe*�F�O?|Ce�N+\ECJMU�N?DEJEJ�m�CG��DEJp�L|�FFGW?Bm'�0LOJS�?omECLR?|JRJ� CL� DGoG� T� FK\WC?DEJp�}?� OmRIOL� BLTmF� FJBFLRJD\}LDRJF?� T� F?B?|?Q?� CLDO?Oe'�=J� MI?@e� CG� NGBG�O?K|LRJpFFL|LUWJp�}?�F�MGS�DN?Dmo�DEBmRIMm�FJB?oR\UEI�D?om�DJRICeF?RU'� 0L� CG� FDm� ?KCLO?F?� ��� FJOLTeFLRJ'� d?E'� 2LD?Fm� mFmDE'�4NLBELO?Fm�@J�NJDLRJ�CL� �HCmH�RJDEOLHjQBL~mOLH�NRUDJpLRGp�CL�|LRIp�FmDE'�XeSC?@e�EBGoL�oeR?p�N?@J@?�FDI?Q?p�NJDLEJ@mCeDJ'� X?� EmRIOJ� KJ|eBCJS� FJKLFLF� DCmKLCC\p� L� F|GFmDE'�XeSCJS�CLOLTeFLF�S?@eg

*�=?U�N?BMmU�DH?FLEJ�CL�FGWGBU'4EBmRIMm�@?FWLRJp�EmRIOJ�TQR\KLRJD\�CL�DGoG'�2BJS�?F�?omKp

m� FmDE'� XeSCJS� N?FE?BUf� KLRm� DF?�� K?@LQLCC\'� PL� MGS� KGCINBJDEBLDC?p�\O�CmO?RJ�F�mC�m�KCmp�OeBJEI�MJQLBOe�TL�MJQLBO?U'6?RJ�NBJS�?F�FGWmBp�FmDE'�XeSCJS�T+�F�CLBLT�DCmKLCC\p�?omK� mKFm�N?BMm��FGWGBm'�2BLFKLp�FmC�oeF�FGRJO?Q?�TB?DEep�LRG�@J�FDG�|FFL|LRJp�}?�EeE�N?OLTLFD\�?KJC�FGRJOJS�MGBO?FCJS�QBmH'

ZYn

6?RJ�NBJS�RL�FGWmBC\�TomBOLp�@J�NmKDe@?Fef@?�NRUDJ�S@mCeDJ'

*� _Be|G� XeSCJSp�*� OL|e� K?� CI?Q?p�*� \Om� FJ� @LfEGDI?Q?KCm� @mCeDJ�

*�4I?Q?KCm�\�CG�@LU�|?KCJHp�*�FNGFCGC?�FmKN?FmF�FmC'*�=?|Gp�HE?�T�KBeTmF�@Lf�\OmDI�DN?DEGBG|GCC\��*�NJELU'PQ?R?DJR?D\�K?�DR?FL�OmRIO?H'�4E'�FmDE'�7JoLROL�OL|Gg*�`�KLF�oJ�@mCeDp�NGB�Gp�TL�EGp�}?�FmC�OLTLF�D?om�DH?FLEJ

DCmKLC?Op�KBeQJS�*�TL�EGp�}?�NBJDEBLDC?�OeBJFp�EBGEmS�*�TLEGp�}?�OLTLF�DH?FLEJ�D?om�?omKp�L�WGEFGBEJS�TL�EGp�}?�CL�FGWGBUT+�F�CLBLT�W?EJBJ�N?BMm�'

4NBLFL�Nm�RL�NmK�Q?R?DeFLCC\p�m�FDm�NBJDeKJRJ�S?@e�W?EJBJ@mCeDJ'�P�E?Q?�WLDe�FmDE'�XeSCJS�NGBGDELF�ELO�B?oJEJ'

R�Y���$b

:LKF?Bm�RUEeFLRL�TJ@Lp�\O�TFJWLSC?�CL�V?BKLCDIOG�DF\E?MG� oeFLf'� PLQ?E?FR\f@?� KB?FL� CL� DF\E?'� 4EBmRIMm� NBJC?D\EITLH?FLCm�N?RmCLp�Bm|G@?��H�m�O?RG@?�NBJ�TLWJCGC?@e�FmOe'�6?RJBmTLR?D\� KB?FLp� \� TLF|KJ� oeF� ?H?ECJO?@� K?� BeoLCC\'� A?EmFB?TBeHLEJ�EmR?�EL�DF?��N?BLCGCm�BeOJ'�7eoLCC\�DNBLFR\R?�@GCmomRI'�<�@GCG�NB?DEBmRGCm�|JRJp� F?CJ�N?TDJHLRJ� m� TL� O?|CJ@eKLB?@�D?OJBJ�*�EBG@EmRJ�F�BeOLHp�@?F�KBmE'��G�Ke|G�o?RmR?'XeRJ�KCmp�}?�NmDR\�BeoLCC\�\�CG�@mQ�F�BeOLH�EBJ@LEJ�CLFmEI?RmFM\'�8RG�NmTCm�G�MG�@GCm�N?WLR?�N?@LQLEJ'�4E'�FmDE'�7JoLROLWLDE?�@LDef�@GCm�BeOe�DNJBE?@p�H?W�DEBmRIMm�BLKJRJ�@GCm�DNJBEFJNJEJp�L�BeOe�@LDeFLEJ�NR\�O?U'

4F\EjFGWmB� e�CLD� oeF�NmDCJS'�:LE?@mDEI� F��GKBJS� FGWmBN?EBLFJ�oeRJ�KG}?�@L}GCm'�:L�FGWGBU�@J�@LRJ�o?B}�T�Fe�OL@JS�FLBGCJOJ'�1oB\K�ToGBGQRJ�@J�MmRO?@'�2mDR\�FGWGBm�DNmFLf@?}GKBmFOJ'�:LSMmOLFm�m�S�?BJ�mCLRICm�oeRJ�RG@OmFDIOm�}GKBmFOJp}?��H�DNmFLRL�FmDE'�0GE\CL'

7LC?p�CL�DL@�V?BKLCp�O?|CJS�?NJDef�<?K?HBJ}L�F�DF?�S@mDMGF?DEm�S�?N?FmKLf�TFJWL��EL�EBLKJMm�'

=GCm�NBJQLKLRJD\�S?BKLCDIOm�DF\EL�T�CGKLFCI?Q?�@JCeR?Q?'qkZY� B?Oe� TmoBLR?D\� CLDGRGCC\� DmR� 4GBGKCf� <GRJOG� S

A?MGCI�CL�/G@OmF}JCm�CL�<?K?HBJ}L'�<�E?S�WLD�F�?oB\Km�oBLRLDNmFeWLDEI� ELO?|� D?EC\� OjBL� X?BL'� `OBLT� CL� E?S� KGCI� ?KJCFmKKmR�2?RIDIO?Q?�<mSDIOL�T�XLRJQ?B?KL�NBJS�?F�CLDO?O?@�CL

ZYw

DGR?'�:L�NB?HLCC\�CLDGRGCC\�OjB�XmB�FKLBJF�T�KF?H�o?OmF�CLN?R\OmFp�B?ToJF��H'�:L�N?Rm�o?U�?DELR?����FoJEJH�F?B?QmF'

7G�Ee�B?ToJEOmF�S?Q?�oeCW'�4ELH�QCLF�L|�NmK�XLRJQ?B?K'0L@��H�?oDEBmR\RL�}G�BLT�KBeQL�QBeNL�<2p�\OL�S�RL�CL�K?N?@?QeNGB�mS'�2BJ�E?@e�oeR?�}G�OmRIO?H�eoJEJH'�<mDI@?H�N?R?CGCJHN?RIDIOJH� F?\OmF� N?FDELCMm� ?K\QCeRJ� F� CLSomRI�� N?KGBEGRLH@mEE\p� ?NGBGTLRJ� D?R?@+\CJ@J� NGBGFGDRL@J� m� ELO� NeDEJRJK?�XLRJQ?B?KLp�CLOLTLF�J�DOLTLEJg���G�TL�<?K?HBJ}L�'

:LDGRGCC\�T�BLK?DEJ�OB?NJR?�DEBmRIMmF�DF\WGC?U�F?K?U�mOLTLR?g� ��G� X?Q� N?DRLF� OLBe� CL� N?R\OmF�'� 5� CLD� CG� oeR?� Cm?KC?Q?�FoJE?Q?p�Cm�BLCGC?Q?'

:L� �GKBJS� FGWmB� qkZn� B?Oe� @?\� D?EC\� m� D?EC\OjBL�4ELHL�OFLBEJBeFLRL�F�DGRm�/eO?Fm'�2?R\OJ�CLDO?WJRJp}?o� N?QBLoeFLEJ� RUKGS'� =J� FJQCLRJ� �H� T� DGRL'� 0G� DL@GTB?oJRJ�@J�KBeQ?Q?�KC\�F�DGRm�6eR\�mFp�B?ToJFLUWJ�?KCeW?Ee� N?R\OmF'

�I?Q?�B?Oe�DEBmRIMm�@LRJ�o�?H?Ee�NmEJ�N?�DF\WGCe�F?Ke�K?DGRLp� LRG�K?DFmK�T�@JCeRJH�B?OmF�TLo?B?C\F�MGp�o?�FCLDRmK?OELO?Q?� H?K|GCC\� FNLR?� F|G� oLQLE?� DEBmRIMmF'� X?RI�GFJOJ� FMGS�KGCI�B?oR\EI�DOBmTI�TLDmKOJ�Lo?p�NGBGoBLCm�N?jMJFmRIC?@epSKeEI�@m|�CLDGRGCC\'

���

:L� Q?BoLHp� NmK� DGR?@p� WeEJ� FGDGRm� OBJOJ� KmEGS'4LCOeUEID\'� �G� TCLOp� }?� F� EGBGCm� DN?OmSC?'� <mDEOL� FmKDEmSO?F?Q?g�F�RmDm�WeEJ�DNmFJ�KmFWLEp�}?�SKeEI�K?�MGBOFJ�CLX?Q?DRe|GCC\'�<�Ke�m�}G@JEI�oL|LCC\�oeEJ�F�MU�HFJRJCe@m|� CLB?K?@p� oLWJEJ� S?Q?� CLDEBmSg� WJ� FmC� E?S� DL@JSp� }?oeF� O?RJDIp� O?RJ� }G� CLDJRIC?� CG� FNB?FLK|GC?� o?RIj�GFJMIO?Q?� NBLF?DRLF+\'� 0L� @J� TCLf@?p� }?� CLDGRGCC\� L|Cm\O�CG�H?WG�o?RI�GFJMIO?Q?�CLDELFCJOL�*��NLEBm\BHL�FDG\7eDJ�'�4F\}GCJOJp�}?�CG�NmKNJDLRJ�NGBGHmK�CL�NBLF?DRLF+\pTLQJCeRJ�FmK�o?RI�GFJMIOJH�OeRIp�N?QJCeRJ�FmK�E?BEeBp�Lo?F@JBLUEI� KGDI� CL� 4JomBe'� XmRI�mDEI� EJHp� }?� TLRJ�JRJDIpH?W� m� NmKNJDLRJ� NGBGHmK� CL� NBLF?DRLF+\p� FmKNBLFR\UEIX?Q?DRe|GCC\�KLRm�F�QBGO?jOLE?RJMIO?@e�?oB\Km'�:LDGRGCC\EBJ@LfEID\� QBGO?jOLE?RJMIO?�� FmBJp� L� NB?� o?RI�GFJMIOGNBLF?DRLF+\�CG�H?WG�S�WeEJ'

�GBOFJp� F� \OJH� DF\}GCJOJ� CG� NmKNJDLRJ� NGBGHmK� CL

ZYk

NBLF?DRLF+\p� TL@OCGCm'� <� DGRm� 6'� Nm�RL� KGRG�LMm\� DGR\C� K??NGBLEJFCJOL�=<_�4LomC?FLp� }?o� FmC� K?TF?RJF� FmKWJCJEJMGBOFe�CL�qk�DmWC\�m�FmKNBLFJEJ�X?Q?DRe|GCC\'�4LomC?F�K?TF?RJFTL� MmCe� [�� OmR?QBL@mF� N�GCJMmp� O?Ne� \fMI� m� RmEBe� DL@?Q?Ce'2mDR\�FmKNBLFJ�MGBOFe�TC?Fe�TL@OCGC?'

1DI� m� DF?o?KL� FmBJ� F� 4447�� 2BJS�RJ� C?FLp� |LHRJFLO?RQ?DNCL�NLC}JCL�m�WLDJ�PGRI@LCLj4LomC?FL'

���

<mDE'� 0GE\CL� CL� FmDEOep� }?� KmFWLEL� Nm�RJ� K?� MGBOFJp?K\QLfEID\�F�NRL}p�TLN?\DefEID\�m�CmoJ�SKG�T�oeCOGBe'

*�8�FJ�OeKJ��*�NJELf�?KJC�mT�DEBmRIMmF'*�`�SKe�K?�MGBOFJ�CL�DGR?�2'PBJFLfEID\�W?E'�2LDp�FoJBLfEID\�ELO?|p�oGBG�LFE?@LEL�S

OL|Gg*�8�\�SKe�DI?Q?KCm�CL�DGR?�:'�0L@�oeKG�omRI�G�RUKGS�F

MGBOFm'PCLKF?Be�FGBELfEID\�FmDE'�0GE\CL'*� <GBELUD\p� o?� o?UD\p� }?o� CG� FNLDEJ�*� EL@� ELOL

RI?K?FJM\'2mDR\� KG\O?Q?� WLDe� FGBELfEID\� m� W?E'� 2LD'� :LDRmKeUWJ

@?R?KJH�NLBeoOmF�CL�DGRmp�O?RJ�F?CJp�N?FGBCeF�JDI�T�MGBOFJpOL|eEI�@LEGBm�KLEJ��DEJp�K?@LQLfEID\�FLBGCJOmF'�1N?FmKLfp�\O\OL�KmFWJCL�oeRL�?K\QCGCLp�O?EBJS�T�HR?NMmF�OeBJF��NBLDmFOe�T� E?BoJCOJ� �CLSNGBGK?Fm�?Q?�'� 0LOJ@J� |LBEL@J� @JeNBJf@CUFLRJ�D?om�WLD'

RV�"V�V���RV"%

<� EBGEmS� KGCI� NmDR\� <?K?HBJ}L� DEBmRIMm� TB?oJRJ� D?omH?KJRICJMm'�2mFKC\�FNBLFR\UEID\p�H?K\WJ�@m|�\RJWOL@Jp�m�FFGW?BmQe}LOL@J�CL� H?KJRICJM\H� KmDELUEID\� K?� DEG|OJp�}?� S�RL� FDGR?'�<�RmDm�TLH?FeUEI�H?KJRICJMm�S�NmKDeFLUEID\�K?�DGRL'

2BJC?D\EI� K?oBm� FmDEOJ'� PLQLRIC?� N?� DGRLH� DN?OmSC?'PKLfEID\p�}?� MG� oeKG� EJ�L� NGBGK� oeBGU'�2BJC?D\EI� oLQLE?QLTGE�m�o?RI�GFJMIOJH�|eBCLRmFp�B?TFmKOe�m�N?EBmoCm�BGWm'

<� oeCOGBm� CmHE?� CG� R\QLF� DNLEJ'� <Dm� MmOLFmp� }?� C?F?Q?NBJCGDRJ�CL�m'�<mDE'�<JH?B�B?TOBJFLf�QLTGEe��7LK\CDIOL�5OBL�CL�m� N?OLTef� DELEEU� o?RI�GFJMIO?Q?�|eBCLRmDEL�4@?RJWLg� �2B?

Zn�

?KCe�CGKJNR?@LEJWCe�C?Ee�p�L�FmKELO�KBeQe�T�.Z'q'qkZw�B?Oep�F\OmS�FGRJOL�OLBJOLEeBL�T�CLNJD?@g��2B?NLRL�CLKm\p�B?ToJRLDIDeRm\�'�0LOJ@J�DELEE\@J�o?RI�GFJOJ�H?WeEI�?D@m�JEJ�FJTF?RIjCJS� BeH� eOBL�CDIO?Q?� CLB?Ke� m� H?WeEI� K?FGDEJ� FDU� S?Q?oGTFJQR\KCmDEI'�0L�CL�KmRm� F?CJ�B?oR\EI�CL@�FGRJOe�NBJDReQegCLDGRGCC\�B?Te@mf�Mm�DELEEm�N?jDF?f@e�m�K?FmKefEID\�T�CJHp�}?NB?�S?Q?�FJTF?RICe�o?B?EIoe�TCLf�ELO?|��JB?OJS�DFmE'

4EBmRIMm�?oDEeNJRJ�QLTGEep�TLWJEeFLRJ�FDG�K?DRmFC?p�L�NBJE?@e�CG�TLoBLOR?�FDmR\OJH�|LBEmFp� K?EGNmFp� D@mHe� EL�BGWGFJHFJDC?FOmF'

<��7LK\CDIO?@e�4R?Fm��T�q��RUE?Q?�qkZw�B?Oe�@J�N?oLWJRJDELEEU� NmK� CLQ?R?FO?@� �PBLKCJOJ� CLB?Ke�'� <� CmS� NGBGjN?FmK|GC?� DeK� CLK� KjB?@� 1'� XLBFmCDIOJ@p� }?� oeF� FmMGj@mCmDEB?@�TK?B?F+\�eB\Ke�T�qkZq�B?Oe'�4ELEE\�NGBGDJWGCL��KKUm�CGCLFJDEUp�K?�\O?��TKmoCJS�EmRIOJ��DELB�JS�oBLE��EL�S?Q?�NGBGK?FL�� OeRIEeBL'� <� EBJoeCLRm� TLDmKLRJg� NN?RO'� /eNLR?pN?RO'� X?BJDGCO?p� @LS?B� 1FBLWeOp� RGSE'� 1CJ}GCO?� m6?FLRGCO?'�2?�NBmTFJ}LH�FJQR\KLR?�op�}?�MG�DL@m�eOBL�CMm'0L�@J�NGBGO?CLRJD\p�}?�FDm�o?RI�GFJMIOm�FGRI@?|m�F�PLHmKCmS5OBL�Cm�N?Q?R?FC?�B?Dm\CJp�LRG�KR\�TL@JRGCC\�?WGS�NBJoBLRJD?om�eOBL�CDIOm�NBmTFJ}L'

� qkZY� B?Oe� F� ?KCmS� @mDMGF?DEm� |JF� ?NGBLEJFCJO�=<_XLWJCDIOJSp� }?� CL� O?|C?@e� OB?Mm� NmKOBGDRUFLFp� }?� FmCeOBL�CGMI� T� DGRL� XLWJCJ'� 6?RJ� S?Q?� TCJ}JRJ� N?FDELCMmpTLoBLRJ� S?Q?� K?Oe@GCEJ� m� TCLS�RJ� KFL� NLDN?BEJg� ?KJC~LRI�JFJS� T� NBmTFJ}G@� �XLWJCDIOJS�� m� KBeQJS� NBLFKJFJS'<J\FJR?D\p�}?�FmC�CLTJFLFD\�2LRU�OmC�m�oeF�B?K?@�T�1BR?FDIO?�?oRLDEm'�X?RI�GFJMIOJS��DeK�p�TR?|GCJS�T�ELOJH��eOBL�CMmF�pTLDeKJF� CL� q�� B?OmF� EUB@J� EL� [� B?OmF� N?ToLFRGCC\QB?@LK\CDIOJH� NBLF� KjBL� XLBFmCDIO?Q?'�=?DO?FDIOm� oLCKJEJKLRJ� S?@e� ELOJS� �@LRJS�� NBJDeK� E?@ep� }?� F� 4447� CmoJDOLDeFLRJ� OLBe� D@GBEJ'� 0L� N?@J@?� E?Q?� �DOLDeFLCC\� OLBJD@GBEJ�� CG@Lf� DI?Q?KCm� KC\p�}?o�=<_�*�=�X� oGT� DeKe� CGTLDEBmRJR?�W?R?FmOLp�|mCOJ�WJ�NLDEe�OL�*�F�DGRmp�CL�N?Rm�WJ�FRmDm'�6?Q?�CG�TLoJBLUEI�CL�@mDMmp�E?Q?�FJF?T\EI�K?�O?CMELo?BmFT� NBJDeK?@� WJ� oGT� CI?Q?p� KG� RUKJp� \O� FmK?@?p� @LD?F?F@JBLUEIpFmKKLUWJ�FDm�DJRJ�OLE?B|CmS�NBLMm'��\�K?R\�WGOLf�mKjBL�XLBFmCDIO?Q?�N?@J@?��@LR?Q?��FJB?Oe'

P?OBG@Lp� TLMmOLFJF� CLD� OmCGMI� DELEEmg� �>� CGHLS� EBG@E\EI

Znq

}G�Em�?KJC?Omp�DOL|GCm�F?FOJp�*�WJELf@?�EL@p�*�}?�oReOLUEITFmB\WJ@J�DEG|OL@J�F�RmDm�m�?DOLRUUEI�HJ|m�TeoJ�CL�oeSCJSB?TOFmE�C?F?Q?�|JEE\'�ALS�F�CLSW?BCm�JH��H�\@LH�CGF@?RJ@?ReCLfg��<DELEJp�DeK�mKG�'

0L|�EJp�@?DO?FDIOJS�DLEBLNGp�KJOeCG�T�NmFC?Wmp�EL|�MGSEFmS��DeK��F|G�K?FQm�DE?BmWW\�WJQLf�CLK�eOBL�CDIOJ@�CLB?K?@'4I?Q?KCm� FmK� �CLSKG@?OBLEJWCm�?Q?� F� DFmEm� DeKe�� TLQJCeRJ@mRIS?CJ�F�CLSomRI��FLBFLBDIOJS�DN?Dmo'�<mK�CLDp�F?\OmF�528pFmK�B?omECJOmF�m�DGR\C�5OBL�CJp�}?�DELCeRJ�T�E?o?U�K?�o?Up�*KR\�EGoG�?KJC�DeKg�EBG@EJp�OLEGp�o?�CGTLoLB?@�F|G�TLQBLUEICL@�F?DOBGDCmp�L�E?om�N?H?B?CCm�KTF?CJ�

�?o� CG� NDeFLEJ� D?om� CGBFmF� o?RI�GFJMIOJ@J� DELEE\@JpNGBGH?KJ@?� CL� mC�e� EG@e'�1D?oRJF?� Em�JEI� CLD� FmDEOLp�}?CL�L�@?R?KIp�CG�TFL|LUWJ�CL�EGB?Bp�FmCWLfEID\'��G�TK?B?FJSNB?\F'

���

/UEJS�RUEeFLF�OeB\FL@Jp�TL@GEmRRU�m�@?B?T?@'�6?BJDELjf@?p�}?�DJRICL�HeBE?FJCLp�}G� QeKG�RmDp�NLKLUEI�DELBm�\RJMmpoeOJp�KGBGFL�EBmDOLUEI�FmK�@?B?Tep�m�FJH?KJ@?�T�oeCOGBe'�=LS|G}?KGCC?�omQLf@?�@m|�\RJWOJp�DEB\Def@?�DCmQ�T�KGBGF'�7?oJ@?MG�CL�EGp�}?o�FKJHCeEJ�DFm|?Q?�N?FmEB\p�B?TBeHLEJ�EmR?� m�*}?�CLSFL|RJFm�G�*�TLNBLFJEJ�C?QJ�K?�N?H?KmFp�\Om�CLD�WGOLUEIFGDC?U'��G�NBJKLDEID\�ELO?|�CL�FJNLK?O�F?B?|?Q?�CLDO?Oe�m}G�omRI�G�*�CL�WLD�N?Q?Cm'

_Cm� NB?H?K\EI� �FJKO?'� /UEJSp� TKLfEID\p� NB?H?KJEICLS�FJK�G�T�eDmH�@mD\MmF'�:G�E?@ep�}?�FmC�CLSO?B?E�JSp�LRGE?@ep�}?�@J� N?WeFLf@?D\� oGTNGWCm�J@J� m� @?|G@?� DF?omKC?NBLMUFLEJ'

1KCLO�T�OmCMG@�RUE?Q?�KmEJ�NGBGDELRJ�F?TJEJD\�CL�DLCOLH':G�WeEJ��HCI?Q?�KTFmCO?Q?�D@mHe'�2?�DGRLH�m�RmDLH�WeEJ�TC?FeOeRG@GECm� WGBQJ'

6?BJDELU�T�TL@GEmRm�m�F�?KCe�CmW�FJDJRLU�B?TFmKCJOmF�NB\@?CL�WJDEG�N?RGp�KG�TL�OmRIOL�HFJRJC�FmEGB�TLOBeEJF�DRmKJ�DCmQ?@'

:L�m� B?TFmKCJOJ� DO?B?� FGBCeRJD\'� 2BJCGDRJ� QLTGEJ� SEBJF?|Cm�FmDEOJ'�4OBmTI�N?�RmDLH�N?WLRJDI�?oRLFJ'�<?B?Q�TCLfp}?� NBJS�RJ� C?Fm� QBeNJ� N?FDELCMmF� T� PLOGBT?CC\'� P� CJ@JTeKLBJFD\� FmC�CL� O?BK?Cm� EL� F� o?\H� m� FmKWeFp�}?�MG� EFGBKG� mK?oBG�FmSDIO?'�X?UWJDIp�}?�FRmEOe�oeKG�T�EJ@�oLQLE?�@?B?OJp

Zn.

O?RJ�S?Q?�oeKeEI�oJEJ�CL�FDmH�K?B?QLHp�N?WLF�NmKE\QLEJ�omRI�mDJRJ�m�OmRIO?@L�EJD\WL@J�NB?FLKJEI�FGRJOm�?oRLFJ'

=LS|G�F�eDmH�DGRLH�F?B?Q�F|G�oeF'�0mRIOJ�@mDMGFmDEIp�KGNGBGoeFLf� W?E'� 1'� T� KF?@L� B?\@Jp� FmC� ?@JCLf'� �G� @GCGTLCGN?O?�R?'�X?RI�GFJOJ�N?FJQLC\RJ�F|G�oLQLE?�N?FDELCMmF�ToeCOGBmFp� m� KG\Om� F|G� FNLRJ'� <?CJ� H?WeEIp�}?o� B?TN?B?�GCmN?FDELCMm�FDm�TomQRJD\�K?�W?E'�1'�0L@�F?B?Q�FGKG�K?oBe�B?TFmKOem�H?WG��H�FDmH�CLBLT�RmOFmKeFLEJ'�`�KmDELF�FmDEOep�}?�EL@�F|G�TBmTCJH�WLDEJC�TmoBLR?D\�N?CLK�Z��RUKGS'

<FGW?Bm� .� oGBGTC\� qkZw� B?Oe� FJDJRLU� DE'� FmDE'� 7JoLROepDE'� FmDE'� 4mB?Q?� m� FmDE'� XeSC?Q?� T� TLNJDO?U� K?� W?E'�1'p�}?oTLBLT� ELOJ� FJCmDD\� K?� RmDe'� 0L@�@Lf� OFLBEJBeFLEJ� K?� OmCM\NGBm?Ke� EL� KF?@LjEBI?@L� DEBmRIM\@J� O?CDNmBLEJFC?� NmKE\QLEJHLBWm'� 0G� DL@G�NGBGDRLF� K?� mC�JH� QBeNp�}?�oeRJ� F� ELOmS�|GCGoGTNGMm'

6eB+fBJ�FmKmS�RJp�m�F�oeCOGBm�@J�TLNB?FLKJRJ�N?Q?EmFR\'_R\� FmKNBe|GCC\� CGBFmF� DNBLFR\f@?�@+\DCJMm� F� CL�?@e

oeCOGBm'� <mDE'� 4NLBELO� NGBG?K\QLfEID\� TL� KmFWJCep� T� \O?U?KBe|ef@?� DE'� FmDE'� XLSKLOL'� d?E'� 2LD� FJO?Cef� ~eCOMmUDELB?DEJp�L�FmDE'�0GE\CL�*�DELB?DEJCJ'�=J�FDm� mC�m�*�DFLEJEL�Q?DEm'�X?SOmFDIOJ@�Q?F?B?@p�T�eDm@J�DGR\CDIOJ@J�~?B@L@Jm� TFJWL\@Jp� FmKoeFLfEID\� NGB�G� �DFLELCC\�p� L� N?Em@� DL@G�FGDmRR\�'�PLoLFL�TLOmCWJRJD\�e�FGDmRICJH�NmDC\H�@m|�RG@OL@Jm�o?SOL@J'�2B?EGp�OBmTI� QBm@�TLoLFJp�CG�N?OJKLRL�CLD�Ke@OLg}?�NBJCGDG�TLFEBm�CmS�KGCI�

R��]Vl� ����T�"$

:L�DFmELCOe�Z�oGBGTC\�FmDE'�4NLBELO�TQ?R?DJFp�}?�F�CLNB\@mDGRL� <jm� WeEJ� omS'� deEJ� LFE?@LEJp� OeRG@GECm� WGBQJp� QeDEJSOBmD?FJS�F?Q?CI�m�FJoeHJ��BLCLE'�XmS�N?F?Rm�NGBGC?DJEID\�FDGKLRm'�<mKELO�FEJHLf'�2mDR\�NmFQ?KJCC?��NGBGBFJ�TC?Fe�N?DJNLRJDIDEBmRJ'� deEJ� FJoeHJ� �BLCLE� F� mC�?@e� OmCMm� DGRL'� P� E?Q??BmfCEef@?D\p� }?� ?KCL� QBeNL� o+fEID\� F� DGRmp� L� KBeQL�*NB?oJFLfEID\'�5Dm�@J�NGBGO?CLCmp�}?�CL�JH�OeB+fBmF�TeDEBmRLCGoGTNGOL'�=?|Gp�F?CJ�CG�FGBCeEID\�CmO?RJ'

:L�}LDE\p� KBeQ?Q?� KC\� FBLCMmp�}G� TLEG@CLp� CL�m� HR?NMmFGBELUEID\�K?OBLU�FE?@RGCmp�L�FmDE'�XeSCJS�BLCGCJS�F�BeOe'/G|LWJ�CL�NBJWmp�Ke|G�FE?@RGCm�DEBmRIMm�N?WLRJ�?N?FmKLEJg

Zn�

*�<L�m�N?o?UFLCC\p�KBe|G�O?@LCKJBGp�oeRJ�DRe�Cm'�=JFB\EeFLRJ�FmKKmRp�LRG�CLD�F?B?Q�e|G�?OBe|JF�F�DGRm'�6?RJ�@JN?oLWJRJ�OmRIO?H�o?RI�GFJOmF�omR\�CL�?��HLEJp�oeR?�KFL�NR\CJgTLBLT� ?oDEBmR\EJ� EJHp� HE?� NGBGK� HLE?Up� m� E?Km� NB?BJFLEJD\'_BeQJS�NRLC�*�RJ�JEJ��H�F�DN?O?��m�NmK�@LDO?U�o?RI�GFJOmFpDN?OmSC?�NmKDFJDEeUWJ�D?omp�SEJ�WGBGT�DGR?�F�omO�RmDe'�_BeQJSNR\C�NGBG@mQ'

<JH?KJ@?�TLKCm@J�KFGBJ@L�m�NGBGDOLOef@?�NRmE'�_?FO?RLp@m|�HLEL@Jp�N?FC?�o?RI�GFJOmFp�}?�CL�CLD�KJFR\EID\'�7mFCJ@OB?O?@p� DN?OmSC?� mKG@?p�}?o� KmDELEJD\� CL� FJQmC'�:L� Q?BoLHoLWJ@?�F?B?|e�B?TDEBmRICep�}?�T?BJEI�m�|KG�CL�FJDRmK�?oRLFJF�DGRm'�6?RJ�NmKH?KJ@?�K?�NGB�?��TLDELFJp�o?RI�GFJOJ�N?WLRJOBJWLEJg� �6eKL�SKG���

5�FmKN?FmKI�CL�MG�@J�DJNCeRJ�F?QCG@�m�OJCeRJDI�CL�CJH'2mK�WLD�NGBGDEBmROJ�BLCGCJS�FmDE'�XeSCJS�F�BeOe'�<mDE'�7JoLROLNB?@?}ef��R\Hp� NGBGDEBmRUfEID\� T� EBI?@L� o?RI�GFJOL@J� eFmKKLRm�q��@GEBmFp�BLCJEI�KF?Hp�CL�EBGEI?Q?�om|JEI�T��BLCLE?U�mFoJFLf�S?Q?'

XmS�m�?F�CL�WJDE?@e�N?Rm'�P�DGRL�om|JEI�EmWC\�o?RI�GFJOmFT�OmRIO?@L�OeRG@GEL@J'�_?NLKLf@?�K?�NGB�JH�Oe}mF�m�QRJo?OJ@DCmQ?@p�FGKeWJ�T�D?o?U�BLCGC?Q?p�FmKDEeNLf@?�WGBGT�DGR?�/je�K?XjL'��?SC?�N?�OmRIO?H�OmR?@GEBLH�N?Q?Cm�F?B?Q�KLF�CL@�DN?OmS'

<mKFL|Cm� F?\OJ� N?NJDLRJD\� TCL@GCJE?'� <?Q?CIp� \OJS�@JN?WeRJ�NmFQ?KJCJ�NmTCm�Gp�*�MG�oeRL�NGBGDEBmROL�mC�?��QBeNJN?FDELCMmF�T�o?RI�GFJOL@J'

=GCmp� T?OBG@Lp� NBJf@C?� oeR?� DReHLEJp� O?RJDE'�FmDE'�7JoLROL�DOLTLFg

*�`�TLNL@+\ELF�D?om�FL�e�CLeOep�KBe|G�O?@LCKJBG'�6?RJF?B?Q�CG�FDEeNLfEID\�FmK�LFE?@LEC?Q?�F?QCU�*�SEJ�NB\@?�CLCI?Q?�T��BLCLEL@J�m�ELO�NB?@?}eFLEJ�D?om��R\H�T�?E?WGCC\'�<@?@GCEm�CGoGTNGOJ�\�oeF�Ke@OL@J�CG�omR\�@LEGBmp�L�omR\�FLD'<?DELCCf�NB?}LFD\�T�FL@Jp�m�E?Km�FNLRL�@GCm�Ke@OL�}G�SEJ�T�BLCLEL@J'

:L�m� TF+\TOmFMm� NBJCGDRJ� Ke|G� EBJF?|Ce� B?TFmKOeg� FRUE?@e�F?B?Q�DJR?U�OmRIOLCLKM\EI�EJD\W�NB?F?KJF�?oRLFJ�FDGRLH�m�RmDLH'�:L�m�FEBLEJ�FGRJOmp�LRG�T�F?B?|?Q?�o?Oe�KLRGO?omRI�m'� `OLDI� KmFWJCL� FoJRL� T� OeRG@GEL� qY� o?RI�GFJOmF'��GoeRL� K'�=JB?DRLFLp� CLBGWGCL� K'� 4LSQ?BL'� <?CJ� FDm� F� o?UTLQJCeRJ'

ZnZ

XeF�FGRJOJS�omS�omR\�QmB�aGoGRmp�d?BC?��b?BJp�KG�TLQJCeR?KFLKM\EIOmRIOL� N?FDELCMmF� m� q.�� o?RI�GFJOmF'� XmRI�mDEIN?FDELCMmF�oeRJ�BLCGCm�S�N?K?DEBmRUFLRJ�DGoG'

=GCm�FmKBLTe�NBJS�?F�CL�Ke@Oe�N?B'�XmB'�4EBmRIM\@�CmW?Q?CG�Q?F?BU'�A?B'�=JB?C�N?HJELF�EmRIOJ�Q?R?F?U'�0GE\CL�QR\CeRLDe@CJ@J� ?WJ@L'�=J� FEBmSOe� TB?Te@mRJ� FDG'� A?W� CmW?Q?� CGQ?F?BJ@?p�CL�m�F?\OJ�oGT�CLD�@LUEI�DF?��TK?QLKJ'

<?B?Q�NB?F?KJEI�DJRICm�?oRLFJ�F�NBJO?BK?CCJH�BLS?CLHp}?o��H�?WJDEJEJ�FmK�N?FDELCMmF'

<mDEOJ�|LHRJFm'�X?B?EIoL�CG�TCLf�DGCEJ@GCEmF'>�TC?Fe�RUKJCL�DELFJEI�D?om�NJELCC\p�WJ�CL�L�G@m�BLMm\

F@mf�?MmCJEJ�CL�e�o?B?EIoe��dJ�eDFmK?@RUfp�\Om�EeE�|GBEFJNLKeEI�F�o?U�TL�5OBL�Ce��_e@LU�NB?�EJH�?D?oRJF?p�HE?�CG�SKGT�CL�J@�7GF?RUMmSCJ@�6GBmFCJMEF?@'

P� FmB?QmKCJH�K|GBGR� TCLUp�}?�KG\Om� RUKJ�D\QLUEI� DF?�@JBeOL@J� K?� 528'� >C�m� CLTJFLUEI� DGoG� �@?TQ?@�� CLB?Ke'� <o?RI�GFJMIOm@�|eBCLRm� �4eWLDCG� m�@LSoeECf�� TCLH?K|e� ELO?|B\K�DELEEGSp�F�\OJH�F?B?Q�T�CLD?R?K?U�NJ�G�NB?�G@m�BLMmSCm�DFLBOJ'

`p� \O� F?\O� m� O?@LCKJB�528p� TL\FR\U� FDm@� NB?EJFCJOL@FJTF?RIC?�� o?B?EIoJ� m� ��� N?RmEJWC?Q?� OGBmFCJMEFLp� }?� @JFJTCLf@?� EmRIOJ� 5b<7'� 2L@+\ELSEGp� NLC?FGp� ?KCGg� CLS@GC�DFmK?@JS� DGR\CJC� DNJELf� FLDp� KG� FJ� oeRJ� F� E?S� WLDp� O?RJ� F5OBL�Cm�NB?FLKJRLD\�o?B?EIoL'

�T`V"��%!T�T"VR�R�!V� �

n�oGBGTC\�?�q��Q?KJCm�DEeOLf�DEmSO?FJS'�<JomQLf@?�CL�oeCOGBm�DReHLf@?'

dGBGT�NmFE?BJ�Q?KJCJ�F�RmDLH�WeEJ�BGQmE�OeRG@GEmFp�F�?KCm@pE?�TC?Fe�F�mC�m@�@mDMm'��Gp�@LoeEIp�H?B'�7?@LC�NB?oJFLfEID\�TKF?@L�TJ@?FJ@J�QBeNL@J'�:GN?O?�EI�@GCG�EGp�}?�H?B'�7?@LCoeF�e�CL�?@e�oeCOGBm'�`O}?�CLE\OCeF�NGBGK�DEBmRIM\@J�NB?@mDMG�CL�?Q?�TJ@eFLCC\p�EL�F�FJNLKOep�O?RJ�o�O?EBJSDI�T�CJHN?NLF�F�BeOJ�F?B?QLp�*�@J�F�CGoGTNGMm'

def@?�OeRG@GECm�WGBQJ�ELO?|�T�mC�JH�o?OmF'�2?WJCLUEID\KCm�F�N?FC?@e�CLNBe|GCCm'

XGBGTCGFm� KCm� K?F�m'� 0BJF?|CJH� Q?KJC� K?F?KJEID\NGBG|JFLEJ�}?BLT� omRI�G'� 2LOeU� FGDI� LBHmF� m� @L�JCe� K?NJDLCC\'�_LU�DEBmRIM\@�TLCGDEJ�CL�OBLS�RmDe�m�EL@�TLH?FLEJ�CL

Zn[

O?|CJS� FJNLK?O'� 0GNGB� EmRIOJ� K?OmCWef@?� FJFWLEJ� FmSDIO?FmNmKBeWCJOJ'

_?� NmKBeWCJOL� NLBEJTLCDIO?�� ELOEJOJ� CLNJDLF� \� oLQLE?DF?�H� TLFFLQp� N?WGBNCeEJH� T� K?DFmKe� NLBEJTLCDIO?�� o?B?EIoJ?DELCCmH� B?OmF'� 1oQ?F?BUUWJ� o?S?Fm� Km�� FmKKmRmF� 528� CL/G@OmF}JCm�EL�F�2GBG@J}JCmp�K?F?KJEID\�ELO?|�H?B'�=JB?C?FmT+\D?FeFLEJ�MmRJS�B\K�NJELCI'

*�_Be|G�O?@LCKJBGp�*�OL|G�H?B'�=JB?Cp�*�@GCm�FmK?@?p}?� D?ECm� H?B'� X?BL� m� H?B'�_mKJOL� F� qkZ[� B?Mm� KmDELFLRJp� O?RJ?BQLCmTeFLRJD\p�omRI�G�\O�N?R?FJCe�F?\OmF�mT�DELBJH�D?EGCIp�e|GFJ�O?RGCJHp�L�BG�Ee�K?N?FC\RJ�D?om�T�46<'�PLEG�FJ�CLoBLRJ�K?DF?f��D?ECm�CGFJ�O?RGCJS�GRG@GCEp�@LUWJ�EmRIOJ�|@GCIOe�DELBJHF?\OmF'�0L�@J@?�E?Q?p�}?�C?F?oBLCMm�oeRJ�@LR?QBL@?ECm�RG@OJpFJ�F|G�CL�N?WLEOe�N?WLRJ�T�CJ@J�BGSKJ�m�o?�'

*�6?RJ�\�N?WLF�?BQLCmT?FeFLEJ�DF?U�RG@OmFDIOe�D?ECUp*�oeRL�@?\�FmKN?FmKIp�*�E?�@LF�eDI?Q?�qZ�DELBJH�F?\OmF'�<�E?SWLD�\�FJO?CeFLF�~eCOMmU�TLDEeNCJOL�OeBmCC?Q?'�`�NB?DJF�NB?NGBGCGDGCC\�F�2GBG@J}JCep�LRG�CG�KmDELF�E?Q?'�PLEG�K?TF?RGC?@GCm�?BQLCmTeFLEJ�D?ECU�T�C?F?oBLCMmF'

:LoBLEJ� RG@OmF� K?� D?ECm� *� EBeKCL� DNBLFL'� /G@O?NBJF+\TLCJS� K?� DF?Q?� DGRLp� CGK?FmBRJFJS'� 8RG� O?Q?� NmTCLf� mN?RUoJEI�*� TL� EJ@� Nm�?F� oJ� m� F� ?Q?CI'� 2GB�G� SKe� N?RG@OmFDIOJH� DGRLHp� NGBGF?K|e�To?BJp� ?DFmK?@RUUp�}?�RG@OJ*�MG� DRLFCG� OC\|G�NRG@+\p�}?� F?B?Q� H?WG� FJOJCeEJ�S?Q?� TBmKCJH�TG@GRI� m�}?�RG@OJ�@eD\EI� mT� ToB?fU�F�BeOLH�DELEJ�FDF?�S�?o?B?Cm'�>Ke�CL�RG@OmFDIOm�NBLTCJOJp�N?H?B?CJp�FGDmRR\'<JDReHeU�FDm�|LRmp�OBJFKJp�DOLBQJp�oL|LCC\�EL�NB?HLCC\'�2?Em@TF?K|e�K?�?KC?Q?g� K?�N?EBGoJ�FT\EJ�ToB?U�F�BeOJ� m� DELEJ�eFRLDCmS�?o?B?Cm'

:LomB�N?WJCLU�RJ�G� E?Kmp� O?RJ�@LU�FBL|GCC\p�}?�F|GT+fKCLF� D?om� CLDGRGCC\'� PQ?R?�efEID\� oLQLE?� ?H?ECJOmFp� LRG@GCm� TLo?B?CGC?� CLoJBLEJ� CLSDFmK?@m�JS� GRG@GCEp� o?CLMm?CLRIC?�DFmK?@m�HR?NMm�oeRJ�TLSC\Em�N?RmEJWC?U�B?o?E?U'0?@e�CG�KJF?p�}?�F�@GCG�TCLS�?FD\�GRG@GCE�CL�n��FmKD?EOmFCGNJDI@GCCJS�Lo?�@LR?NJDI@GCCJS'�P�C?F?oBLCM\@J�N?WJCLUFmKBLTe� BGSKeFLEJ� m� F� BGSKLH� FJH?FeU� EL� FJ�O?RUU'� 7?oRUOmRIOL�LOMmSp�LRG�ELOJHp�}?o�F?CJ�@GCm�FKLRJD\�m�}?o�RG@OJjF?\OJ�oeRJ�TL?H?WGCm'��?o�T+fKCLEJ�RG@OmFp�NGB�G�@?f�QLDR?oeR?g��>KG@?�CL�?o?B?Ce�FL�JH�DmR��

ZnY

/J�G�NmDR\�OmRIO?H�@mD\MmF�\�N?WLF�Q?F?BJEJ�NB?�?o?B?CeMmR?�� /G@OmF}JCJ'�1NmDR\� N?�JBUFLF� N?RmEJWCJS� Q?BJT?CECL�FDU�5OBL�Cep�DELFR\WJ�\O�Q?R?FCG�QLDR?�CL�?��o?B?EIoJ�*KGB|LFCmDEI�m�D?o?BCmDEI'

7?ToeK|eU�F�RG@OmF�Q?BKmDEIp�eDFmK?@RUUWJ��Hp�}?�F?CJ�fNGB�?U�RG@OmFDIO?U�D?ECGU�EL�}?�@J�NB?K?F|ef@?�EBLKJMmU6?@LCGMIO?��BGDNeoRmOJ'�P�F?\OL@JjRG@OL@J�SKe�CL�FmKFmKJCJF� DGR?� 6?@LCWLp� K?� O?RJ�CI?Q?� NB?FmKCJOL� 6?@LCGMIO?�BGDNeoRmOJp�NBmTFJ}L�\O?Q?�D?om�CG�NBJQLKeU'�4ELBGCIOJS�KmKeDIEBG@E\W?U� BeO?U� m� T� DRI?TL@J� F� ?WLH� K\Oef� TL� FmKFmKJCJpoRLQ?DR?FJEI�F?\OmFjRG@OmF�m�TLORJOLf�o?B?EJD\�TL�5OBL�Ce'

0LO� \� N?WLF'�2RJFeEI� K?� @GCG� HR?NMmjRG@OJp� mT� ToB?fUpLo?� S� oGT� CG�'� 9�� NmTCm�G� TK?oeFLf@?'� :LDGRGCC\� BLKmfp� }?N?DELRL� RG@OmFDIOL� D?EC\'� <� CL�e� DJRe� F?C?� N?WLR?� FmBJEJF|G�FO?B?EMm�NmDR\�eDNm�CJH�o?�F�F�PLQmB+�p�PLFLKMm�=?B?HmFDIOmSpPLQeEJCmp�=?B?HmFDIOJH� Q?BLH'

<� ?BQLCmTLMm�� K?N?@LQLf� @GCm� oLQLE?� DE'� FmDE'� bBm@�oeO?FJCGMI�p� N?B'� <mEGBp� DE'� FmDE'� >Q?Bp� DEB'� deQLSDEJBpDE'�FmDE'�AJEB?RJD�EL�mC�m'�<�O?B?EO?@e�WLDm�oeRJ�F�@GCG�F|GW?EJBJ� W?EJ'� <mK� BLCOe� K?� N?ReKC\� RG@OJ� FJ�O?RUUEID\'2?N?ReKCm� FmKN?WJC?Op� L� FFGW?Bm�*� CLDO?O� CL� F?B?QL'� <O?B?EO?@e�WLDm�D?EC\�C?FJOmF�B?oJEI�omRI�Gp�\O�DELBm�D?ECm'�<BGSKLH�@?��F?\OJ��O?RJRJDIp�F�o?\H�QLBEeFLRJDI'�8�BGSKeFLRJ@J� CG� EmRIOJ� E?@ep�}?o� FJ�O?RUFLEJ� FmSDIO?p� LRG� ELO?|� mE?@ep�}?�DOBmTI�N?�DGRLH�FJO?CeFLRJ�NB?NL�LCKJFCe�B?o?Ee'

7eH� H?B?CJF� @?f� FmSDIO?� NGBGK� F?B?|?U� oRI?OLK?U� mN?Q?CGU� EL� K?N?@LQLF� @GCm� CGDN?KmFLC?� FKLB\EJ� CL� F?B?|mQBeNJ'� <|G� NmDR\� OmRIO?H� @mD\MmF� C?F?oBLCMm� oeRJ� F� @GCGB?S?FJ@J'

*� 1KCLO� BGSKJ� FJDCL|eUEI� FmSDIO?p� *� TLeFL|JFH?B'�=JB?C'�*�dJ�CG�OBL}G�oeR?�DJKmEJ�F�?KC?@e�RmD?F?@e@LDJFm� S� T� CI?Q?� CLNLKLEJ� ELOp� \O� MG� B?oJF� N?B'� XmB� Lo?N?B'�_mKJO�

*��G� F|G� TLRG|LR?� FmK� ELOEJOJp� \Oe� NBJSC\F� KLCJSO?@LCKJBp�*�FmKN?FmF�\'�*�2?B'�XmB�@LF�FGRJOm�@LDJFJ�RmDmF�F0BJOeECJOe��PLEFLBCJMIOm�RmDJ�'�2?B'�_mKJO�@LF�2BJoJ�mFDIOJSRmD�m�ABG}LEe'�`�CLE?@mDEI�oeF�NBJOBmNRGCJS�K?�EGBGCep�KG�oeRJ@LS|G�DL@m� O?BWJOJ� m� CGFJQmKCL� �XeO?FJM\�'�1E|Gp� DL@� EGBGCT@eDJF�@GCG�NBJC\EJ�MU�ELOEJOe'�8RG� \� FFL|LF� TL� FmKN?FmKCG

Znn

BGSKeFLEJ�ELO?|�E?@ep�}?�NmK�WLD�BGSKmF�F?\O�@Lf�oLQLE?�FBL|GCIpNmTCLf�EGBGC�EL�eWJEID\�H?KJEJ�NLBEJTLCDIOJ@J�K?B?QL@J'

*�8�W?@e�FJp�KBe|G�O?@LCKJBGp�CG�ReWJRJDI�T�N?B'�X?B?@m� T� mC�J@J� D?EC\@J� EL� CG� FJO?CeFLRJ� omRI�JH� ?NGBLEJFCJHKmS��*�FNLR?�WGBQ?FG�NJELCC\'

*�`�oeF�EmRIOJ�D?EGCCJ@p�E?@e�\�CG�@LF�NBLFL�CLOJKLEJoeKIj}?� mC�J@� D?EGCCJ@'�6?|CJS� D?EGCCJS� Km\F� CL� FRLDCeBeOep�TQmKC?�T�K?BeWGCC\@�OjBL�FmKEJCOep�7GCL'�>�T�K?BeWGCC\<mKEJCOe� �/G@O?�� CG� FJO?CLC?� Cm� ?KCmf�� DNmRIC?�� LOMm�� FDmHD?EGCIp�H?Wp�CL�@?U�Ke@Oep�MG�oeR?�O?CGWC?'

=J� oeRJ� CL� QBLCm� EBI?H� KGB|LF'�:L� CLD� KJFJFD\� DFmEp� mCL�L� o?B?EIoL� CG� @?QRL� oeEJ� TL@OCGCL� NGBGK� We|J@JO?BGDN?CKGCEL@Jp�\O�F�5447'�5@?FJ�m�EGBGC�*�TCL@GCJEm'�=J@?QRJ� KLEJ� PLO?BK?CC?@e� 2BGKDELFCJMEFe� 5b<7� DJRICmLB�e@GCEJ� m�K?OLTJ�CL�?��o?B?EIoJ'�7GSKJ�CL�JH�FmKKmRmF�N?/G@OmF}JCm�EL�4R?FLWWJCm�TCLS�RJ�FmKQ?@mC�F�DFmE?FmS�NBGDmpQ?R?DJ�\O?��NB?KmDELFLRJD\�ELO?|�m�K?�CLD'�4FmE�K?FmKLFD\p�}?eOBL�CDIOJS�CLB?K�o?B?CJEI�DF?��TLHmKCm�?OBL�CJ�mp�T@LQLUWJK?�DL@?DEmSC?��D?o?BC?��KGB|LFJp�DELFJEI�W?R?�FDm@�?OeNLCEL@?KC?WLDC?'�dGBGT�K?F�JS�WLD�CL�EGBGCLH�PLOGBT?CC\�LFE?BJEGEN?RIDIO?jo?RI�GFJMIO?�� FRLKJ� oeF� TCJ}GCJS'� >� RJ�G� NmDR\DNmRIC?Q?�N?B?Te@mCC\�EBI?H�KGB|LF�*�4447p�WGBF?C?��2?RI}mm�dGHm�p�NBJ�oGT?QR\KC?@e�FJDGRUFLCCm�eOBL�CDIO?Q?�CLDGRGCC\PLOGBT?CC\� *� CL�L� KLRI�L� LOMm\� EeE� DELRL� N?RmEJWC?CGN?EBmoC?U'�P�FJDGRGCC\@�?DELCOmF�eOBL�CDIO?Q?�CLDGRGCC\CL�G�TLFKLCC\�oeR?�TLOmCWGCG'

2B?EG�CL�/G@OmF}JCm�@?QRJ�?NGBeFLEJ�}G�EBJ�D?ECm�omRI�Gp�H�EBGoL�oeR?�@?omRmTeFLEJ'�2mKDELB�JCDIOJS�m�DELB�JCDIOJSDORLK� oeF� F� mC�JH� D?EC\H'� 0BGoL� oeR?� KFm� D?ECm� OJCeEJ� F6BJCJWWJCep� ?KCe� �*� F� 7J@LCmF}JCe'� 0?Km� o� @J� o?B?CJRJomRI�G�CLDGRGCC\p�FTLf@C?�DGoG�FmKE\|eFLRJ�o�m�N?�JBJRJ�oEGBGC�KmS'

*� d?@e� NBJNJDefEG� FL�m� eDNmHJ��*� NLKLf� KLRI�GTLNJELCC\'

*�=?��DEBmRIMm�OLTLRJ�@GCmp�}?�\�@LU��RGQOe�BeOe�'�_e@LUp}?� CLSFL|RJFm�JS� WJCCJOp� }?� DNBJ\f� FJQBL�GFmp�*� MGNGBGoBLCC\�mCmMm\EJFJ�e�DF?��BeOJ'�:LSeDNm�Cm�G�TLTKLRGQmKINGBGOBGDRUFLEJ�NR\CJ�F?B?QL�m�OJKLEJ�DF?f�FmSDIO?�F�CLDEeN'6?RJ�F?\O�CLFWJEID\�BLT�EmOLEJ�T�N?R\�o?U�*�E\|O?�NmKCGDEJ

Znw

S?Q?�@?BLRI'�0BGoL�FN?�EJ�F�CI?Q?�NGBGO?CLCC\p�}?�CLDEeN�*MG�CLSOBL}JS�TLDmo�?o?B?CJ'

2B?�FJDRmK�o?U�Bm�Lf�DELC?FJ}Gp�EGBGCp�HE?�KLDEI�NGB�JSF?Q?CIp�m�E?�MmRICJS�F?Q?CIp�}?o�FmK�CI?Q?�F�B\KLH�F?B?QL�FmKBLTeoeRJ�FoJEm�S�BLCGCm'�4L@JS�omS�TLRG|JEI�FGRJO?U�@mB?U�FmKo?S?F?�� FLBE?DEJ� NmKDELB�JC'� _e|G� oLQLE?� F� o?U� N?@LQLRJ?ORJOJ��4RLFL�p�DNmFJ�m�ONJCJ�T�F?B?QL'�:L�N?WLEOe�o?U�F|JFLRJOBL}m�o?S?Fm�?KJCJMmp�DRLo�m�B?��WJ�W?EJ�F|JFLRJ�KR\�B?oRGCC\F��@m�Oe�p�O?RJ�DRLo�m�o?S?Fm�WLDEJCJ�CLF@JDCG�FmKDEeNLUEIpL�DJRICm�o?S?Fm�?KJCJMm�T�OBJR�B?ToJFLUEI�F?B?QL'�_?oBm�o?S?Fm?KJCJMm�CLKLUEI�DJRep�EG@N�m�FNGBEmDEI�MmRmS�o?S?FmS�QBeNm�FCLDEeNm�WJ�F�NB?BJFm'

<�CLD�O?@LCKJB�TLF|KJ�oeF�T�F?\OL@J�F�NGB�mS�RmCm�'�<mCN?FJCGC�oeEJ�TFJWLSC?�O?R?�CLSDRLo�?��W?EJ'�5�FJNLKOep�O?RJomS� DORLKCJSp� QBeN?FJSp� F� RmDm� WJ� F� DGRmp� O?@LCKJB� FJoJBLfCLSK?QmKCm�G� @mDMGp� TFmKOJ� @LF� oJ� CLSOBL}JS� TF+\T?O� T?NGBeUWJ@J� FmKKmRL@J� EL� F|G� mT� DReHe� WJ� T?Be� @mQ� oJ?BmfCEeFLEJD\�NB?�HmK�o?U'

6?@LCKJB� *� MG� KJBJ�GCE'� X?S?Fm� ?KJCJMm� *� MGmCDEBe@GCEJ'� <mC� KJBJ�ef� O?|CJ@� mCDEBe@GCE?@p� o?S?F?U?KJCJMGUg�O?RJ�F?CL�@Lf�FKLBJEJp�TL@?FOCeEJ�WJ�TC?Fe�TLQBLEJLo?�RJ�G�LO?@NLCmUFLEJp�O?EBJS�T�@eTJOLCEmF�@Lf�FmKN?WJEJ':G�TLoeFLEJ�NB?�O?B?RmF�CL�N?Rm�o?U�*�OeRG@GEJ�m�@mC?@GEJ'<@mR?� N?DELFRGCJS� OeRG@GE� @?|G� DEBJ@LEJ� CLFLRe� NmH?EJ~R\CQ?FJ@� m� NGBGHBGDCJ@� F?QCG@'� _?oBG� TL@LDO?FLCJSpNBJOBJEJS�O?R?KL@J�S�OL@mCC\@�OeRG@GE�CmO?RJ�CG�K?TF?RJEINmH?EJCM\@� K?DEeNJEJDI� K?� DGoG'� bBeNLp�}?� CLDEeNLEJ@G� CLCI?Q?p� oeKG� NGBGoJEL'� �?o� TCJ}JEJ� \OJSDI� OeRG@GEpNB?EJFCJO� @eDJEI� oRJ|WG� NmKE\QCeEJ� DF?�� OeRG@GEJ� EL@mC?@GEJ'� �G� O?�Eef� FGRJOm� |GBEFJp� m� omS� NBJS@Lf� E?KmN?FmRICJS�HLBLOEGB'

P�FRLDC?Q?�K?DFmKe�TCLUp�}?�OeRG@GE�F�BeOLH�NLBEJTLCLoLQLE?�DEBL�Cm�JSp�\O�F�BeOLH�F?\OL�BG�eR\BC?��LB@m�'

2mK� WLD� o?U� O?@LCKJB� CG� N?FJCGC� N?� D?om� N?OLTeFLEJEBJF?QJ'�<mC�@eDJEI�TLEBJ@LEJ�H?R?KCe�OB?F�EL�CG�QLB\WOeFLEJm� N?DEmSC?� @LCGFBeFLEJ'� <BLH?FeFLEJ��FJKO?� m� NBLFJRIC?

Znk

@mCRJFe� DJEeLMmU� CL� N?Rm� o?U'� =eDJEI� oeEJ� Bm�eWJSpFJCLHmKRJFJS� m� SEJ� CL� BJTJO?FCm� OB?OJp� eCJOLUWJ� FDmR\OJH�LoRI?CmF'�6?@LCKJBp�F�\O?Q?�CG�FmBJEI�FmSDIO?p�CG�O?@LCKJBKR\�E?Q?�FmSDIOL'

*�d?@e�FJp�KBe|G�O?@LCKJBGp�NB?FLKJRJ�o?��ELO?|�TJ@?UpO?RJ�F�ELOJS�WLD�Km\EJ�Ke|G�CGFJQmKC?��<?B?Q�@Lf�DRmKJp�EBeKC?K?DELFLEJ�HLBWmp�FL|O?�NGBGF?TJEJ�BLCGCJHp�oBLO�?K\Qep�FTeEE\'<?B?Q?Fm�RGQO?�FmKCLSEJ�FmKKmRp�TLoRI?OeFLEJ�RmD�m�TCJ}JEJ�FmKKmR'dJ@�FJ�N?\DCJEG�DF?U�ELOEJOe�

*�<� e@?FLH� o?RI�GFJMIO?�� KmSDC?DEJ� ?NGBeFLEJ� TJ@?UKmSDC?�CG@?|RJF?p�m�EeE�\�T�FL@J�MmRO?FJE?�N?Q?K|eUD\'�PLEGCL�PLOGBT?CCmp�T?OBG@L�CL�/G@OmF}JCmp�@J�@LRJ� mCmMm\EJFe�FBeOLHp� F?B?Q� oeF� DNLCmO?FLCJSp� TLF|KJ�@LF� NB?QBLCm� o?�'� `FFL|LF� TJ@e�*�@LEmB+U�NLBEJTLCDIOJH� KmS'�6L|e� �@LEmB+U�po?�RmD�*��oLEIO?�'

*�_?oBGp�LRG�RmD�TJ@?U�oGT�RJDE\p�*�FNLR?�TLeFL|GCC\'*�4ELUEI� ?KFGBEJ@J� Oe}mp� WLQLBCJOJ'� <?B?Q� @?|G� T?BJEJRGEeCDEF?@�

*�5� CLDp� CL� /G@OmF}JCmp� oeR?� EBJ� ELOEJOJg� BGSKeUW?jCLDEeNLRICL�*�@?\p�?o?B?CCL�*�N?B'�X?BL�m�?o?B?CC?jFJNLK?FL*�N?B'�_mKJOL�m�N?B'�XB?KJWL'�<?CJ�oeRJ�N?@mECm�T?OBG@L�TJ@?U'

AE?�FmKDEeNLf�WJ�FEmOLfp�KR\�E?Q?�TLF|KJ�f�DE?�K?BmQ'�_R\E?Q?p�HE?�SKG�F�N?Q?CUp�R?FJEI�*�EmRIOJ�?KCL'�<Dm�EBJ�ELOEJOJpF|JFLCm� D?EGCCJ@Jp� oeRJ� N?EBmoCmp� F?CJ� BLT?@� ?KCL� ?KCeK?N?FCUFLRJ'� _e@LUp�}?� NLBEJTLCJ� TJ@?U� oeKeEI� TLF|KJF?UFLEJp�HmoL�}?�oeF�oJ�CGK?QmKCJS�EGBGCp�FGRJOm�F?B?|m�DJRJpDJRICL� B?TFmKOL� m� FCeEBm�C\� L�GCEeBL'� 0?Km� EBGoL� B?TWRGjCeFLEJD\� m� TLO?CDNmBeFLEJD\'

:L�/G@OmF}JCm�F?B?Q�CG�@mQ��FJKO?�@LCGFBeFLEJp�NGBGOJKLEJDJRJp� FJO?BJDELEJ� FN?FCm� DGBGKCJOJ�@GHLCmTLMm�'� <L|O?� oeR?S?@e�NmKF?TJEJ�QLB@LEJp�@mC?@GEJ�EL�FNB?FLKJEJ�F�KmU�RGEeCDEF?'<mC�@eDmF�mEJ�TL�CL@J�T�OBmD?@p�LFE?@LE?@�m�OeRG@GE?@'�6?RJ�@JT�K?QmKCJH�N?TJMmS� DJNCeRJ�F?QCG@�N?�S?Q?�W?Rm�*�FmC�@eDmFB?TWRGCeFLEJD\�F�o?S?FJS�RLK'�PL�E?S�WLD�@J�NGBGC?DJRJD\�CLmC�G�@mDMG� m�DRmK�TL�D?o?U�TL@mCeFLRJ�NmH?EJCDIOJ@J�@mCL@J':G�BLT�@J�TL�CmW�NGBGS�RJ�DEmRIOJp�}?�F?B?|L�N?Q?C\�@eDmRL?o@?B?|GCL�TFGBELEJ�T�N?R?FJCJ�K?B?QJ'

<� @?f@e� EGBGCm� F� RmDm� TJ@eFLEJ� CG� oeR?� @?|RJF?'�=?\D?EC\�m�D?EC\�N?B'�4ELHL�TJ@eFLRJ�oGT�ELo?BmFp�NmK�Q?RJ@�CGo?@

Zw�

F�DCmQLH'�<mSDIO?�ELO�TLQLBEeFLR?D\p�}?�KR\�CI?Q?�DCmQp�FmEGB�m@?B?T�DELRJ�CmWJ@'�6?RJ�F?\O�T�@?f��D?ECm�eFmS�?F�K?�HLEJ�*CG�@mQ�FmKKJHLEJ�m�FmK�Q?B\Wm�DRLoCeF'�0?@e�CG�KJF?p�}?�N?Q?CmTJ@?U�CL@�CmW?Q?�CG�B?oJRJ'�=J�F�K?oBmS�~?B@m�@?QRJ�oJEJF?B?QLp�L�F?B?|JS�F?\Op�FJNB?FLK|GCJS�T�OLDLBGCIp�N?WeFLFD\oGTBLKCJ@'� XeR?� oLQLE?� FJNLKOmFp� }?� F?B?|G� FmSDIO?� ELO?o@?B?|eFLR?D\p�}?� NmKCm@LR?� oeCE� m� CG� H?EmR?� SEJ� KLRm� FN?Q?CU'�6?RJ�NBJS�R?DI�NGBGoeFLEJ�F�DGRmp�@J�TLoGTNGWeFLRJDGoG�F�E?S�DN?Dmop�}?�TLoRI?O?FeFLRJ�S?Q?�m�CmO?Q?�T�DGRL�CGFJNeDOLRJ�ELO�K?FQ?p�N?OJ�CG�FmKmS�RJ'�<�MGS�DN?Dmo�F?B?Q�CG@mQ�@LEJ�B?TFmKOe�NB?�CLD'�6?RJ�|�F?B?Q�NGBGoeFLF�F�DGRmp�@JDELBLRJD\��FJKO?� RmOFmKeFLEJ� S?Q?� TLDELFJ� m� omQ?@� m�RJ� CLHLEJp� KG� FmC� DNLF'� PLOJKLRJ� S?Q?� �BLCLEL@J� Lo?� DmORJOeRG@GECJ@� F?QCG@'

`�DELBLFD\�@LEJ�TLF|KJ�TF+\T?O�T�@LDL@J'�PL�EG�CLDGRGCC\@GCG�RUoJR?�S�@?BLRIC?�EL�@LEGBm\RIC?�NmKEBJ@eFLR?�HLBWL@JpRmOL@Jp� NGBGF+\TOL@Jp� omRJTC?Up� ?K\Q?@p� L@eCmMmfU� mp� }?CLSFL|RJFm�Gp�*� B?TFmKO?U'� _?FmB+\� CLDGRGCC\p� L� ELO?|N?NeR\BCmDEI� @m|� RG@OL@J� FNRJFLRJ� K?KLECI?� CL� DEBmRIMmFpDNBJ\RJ� eDNm�C?DEJ� F� o?\H'� 2mK� WLD� o?U� CLDGRGCC\� CGDR?BLCGCJ@� @?R?O?p� NGBGF+\TOJp� CL@� L@eCmMmUp� }?� DJRIC?NmKoLKI?BUFLR?�DEBmRIMmF'�̀ p�Tm�DF?Q?�o?Oep�K?N?@LQLF�CLDGRGCCU\O�@mQ'�7?TKLFLF�S?@e�TK?oeEm�O?B?FJ�EL�O?Cmp�?K\Qp� DELBLFD\TRLQmKCJEJ�CLDRmKOJ�QBLoeCOe�F?B?QL'

=GCm�TLOJKLRJ�KGO?CDNmBLMmU'�1KCLO�T�D?ECGU�K?�OBJ�FOJCG� TLRmTG�'�=J� BGSKeFLRJp� m� oeRJ� BLS?C?Fm� OGBmFCJOJp� \OmK?@LQLRJD\� BGSKmF� m� WLD� K?� WLDe� BLT?@� T� CL@J� BGSKeFLRJ':LNBJORLKp�BLS?C?Fm�5KLBCJOp�b?FGBR\p�X?BJDp�4\C?FJS'�0L�oeRJS�ELOm�BLS?C?Fmp�\Op�CLNBJORLKp�2eQLWp�d?BC?ELp�\Om�CG�oL|LRJp}?o�F��HCI?@e�EGBGCm�S�?F�BGSKp�LoJ�CG�B?TO?CDNmB?FeFLEJ�EGBGCe�HCI?��NBLMm'

*�d?@e� FJp� KBe|G� O?@LCKJBGp� WLD� K?� WLDe� B?TNeDOLRJDF?��W?EJ�CL�DL@?DEmSCm�BGSKJ��dJ�FJ�H?EmRJp�}?o�W?E?Fm�F@mRJDL@?DEmSC?�NB?FLKJEJ�NmKFmKKmR��dJ�Km\RL�EeE�NB?oRG@L�HLBWmFpWJp�@?|Gp�}G�}?DI�mC�?Q?�

*� �G� NBLFKLp� }?� \� TFGBELF� eFLQe� CL� FJB?oRGCC\DL@?DEmSC?Q?� Km\CC\� W?E?FJH'� 0LO?|� RGQ�G� oeR?� @GC�J@FmKKmRL@� NB?HLBWeFLEJD\'� 8RG� \� B?TKBmoCUFLF� D?ECU� ELO?|E?@ep� }?� NmK� WLD� N?Q?Cm� F?B?QL� RGQ�G� @LRJ@J� QBeNL@J

Zwq

@LCGFBeFLEJp�O?CDNmBeFLEJD\�ELp�F�BLTm�?E?WGCC\p�NB?oJFLEJD\'`�m�N?B'�4ELH�B?TKB?oRUFLRJ�DF?��D?ECm�ELO?|�KR\�FTLf@C?Q?FmKE\|eFLCC\'�=J� B?oJRJ� T� CL�JH� D?EGCI� DNmRICm� QBeNJp� K?DORLKe�\OJH�FH?KJRL�WLDEJCL�B?\�T�?KCmf�p� L�WLDEJCL�T� mC�?�D?ECmp� m� B?TDJRLRJ� �H� F� BmTCm� CLNB\@J� EGBGCe�CL�?Q?� Km\CC\p}?o�oeEJ�KR\�F?B?QL�CGFR?FJ@J@J'

`� TCLFp� }?� F?B?Q� K?ORLKLf� FGRJOJH� TeDJRIp� }?o� @GCGKmDELEJ� |JFJ@� WJ� @GBEFJ@� e� DF?�� BeOJ'� <|G� w� |?FEC\qkZY�B?Oep�NmK�WLD�?o?B?CJ�ELo?Be�CL�ABG}LEmSp�OBJWLF�FmC�K?DEBmRIMmFg

*�1KKLSMf�CL@�bBJC\'�P�FL@m�HMG@J�|JMI�F�T�?KTf�6?BJDEeUWJDI� T� MI?Q?p� oGBe� ?KCe� W?Ee� m� SKe� T� CGU� K?

ELO?Q?�DGRLp�KG�TCLUp�}?�DGOD?EJ�FmKBLTe�N?FmK?@R\EI�F?B?QLNB?�@mS�N?oeE'�<�E?S�DN?Dmo�e@JDCG�DE\QLU�N?Q?CU�CL�DGoGp�LEJ@�WLD?@�mC�m�W?EJ�FJDJRLU�F�NB?EJRG|CJS�CLNB\@�CL�LOMmU'<� MGS� DN?Dmo� @J� CG� BLT� oLFJRJD\� T� WGBF?CJ@J� N?R\OL@J� FMUMUoLoOJ'

dGBGT� B?TWRGCeFLCC\� D?ECm� \� @LF� ?NLC?FLCJS� EGBGCp� LF?B?Q�CG�TCLFp�OeKJ�FRLDEJF?�S?@e�FKLB\EJ'

*�6L|eEIp�}?p�@J@?�Mmf��ELOEJOJp�FL�m�FEBLEJ�oeRJ�FGRJOmp*�OJKLf�H?B'�=JB?C'

*�<mK�?DGCm�qkZ[�K?�EBLFC\�qkZn�B?Oe�@?��KFm�D?ECm�TFGRJ}?DI�q���o?�Fp�LOMmS�EL�TLDmK?O'�<�E?@e�|�WLDm�T�KF?H�D?EGCIFNLF�Zq�F?\Op�F�E?@e�WJDRm�KF?f�W?E?FJH�m��GDEGB?�NmKDELB�JCpEB?f�N?@GBR?p�WGEFGB?�BLCGCJH�N?EBLNJR?�F�N?R?C'�>C�m�D?ECm@LUEI�N?R?FJCe�@GC�G�?NGBLEJFCJH�KmS�m�@LR?�}?�@GC�m�FEBLEJFmK�CLD'�PLEG�F�EBLFCm�m�WGBFCm�qkZn�B?Oep�NmK�WLD�oGTNGBGBFCJHo?�Fp�FNLR?�@LS|G�ELOG�DL@G�WJDR?�F?\OmF'

`�O?|Ce�LOMmU�?oKe@eFLF�m�K?ORLKC?�?NBLMI?FeFLF�FDmR\OmKBmoCJMmp�FFL|LUWJp�}?�De@L�K?oBG�eNR\C?FLCJH�KBmoCJMI�KLfeDNmH'� `� TFGBELF� eFLQe� CL� EGp� }?o� O?|CL� LOMm\� @LRLp� OBm@o?S?F?Q?p�ELO?|�N?RmEJWCG�m�NB?NL�LCKJFCG�TCLWGCC\'�:L�|LRIpoGT�|GBEF� m� OB?FJ� F?UFLEJ� CG@?|RJF?'� 0L� \� DELBLFD\p�}?oF?B?Q� @LF� omRI�m� FEBLEJp� o?� KR\� CI?Q?� CLSNGBGO?CRJFm�JSLB�e@GCE�*�MG�DJRL'�<?B?Q�@LF�.��BLTmF�omRI�G�FoJEJHp�BLCGCJHm�N?R?CGCJHp�}?�CL�O?|Ce�LOMmU�NBJNLKLf�?KJC�eoJEJS'�<|GMG�DFmKWJEIp�}?�CL�m�FEBLEJ�oeRJ�B?T@mBC?�CGFGRJOm'

<J\DCJF�J� BmTCm� DE?BmCOJ� NLBEJTLCDIO?�� o?B?EIoJp� \N?NB?DJF�0GE\Cep�}?o�F?CL�B?TN?FmRL�NB?�B?TFmKOe'

Zw.

*�7?TFmKOL�F�D?EC\H�528p�*�?N?FmKLRL�K'�0GE\CLp�*�oeRLN?DELFRGCL� BmTC?p� TLRG|C?� FmK� eFLQJp� \Oe� �S� NBJDF\WeFLFD?EGCCJS'�:LNBJORLKp� @mS� D?EGCCJS�d?BCJS� Ke|G� KoLF� NB?B?TFmKOep� m�CL�L�EBmSOL�F�EmS�D?ECm�@LRL�WLDE?�T�CJ@�CLBLKJp@J� FmK� CI?Q?� WLDE?� KmDELFLRJ� FOLTmFOJ� EL� TLFKLCC\'� 7?TFmKOLKR\�N?FDELCDIOJH�FmKKmRmFp�}?�@eD\EI�TLoGTNGWeFLEJ�DGoG�T�eDmHo?OmF� m� T� D?o?U�@LUEI� FDG� @LSC?p� BLCGCJH� EL� HF?BJHp� @Lf?D?oRJFG�TCLWGCC\'�>KeWJ�\O�MJFmRI�@m|�RLFJ�F?B?QL�CL�B?TFmKOepEBGoL�oeR?�FJDEGBmQLEJD\�CG�RJ�G�F?B?QLp�LRG�ELO?|�CLDGRGCC\*�We|?Q?�m�DF?Q?'�0BGoL�NGBGoJBLEJD\�F�?K\Qp�\OJS�C?D\EI�FKLC?@e� EGBGCmp� m� @?F?U� EL� N?FGKmCO?U� NBJDE?D?FeFLEJD\� K?TFJWL�F�CLDGRGCC\'�<DG�EBGoL�FJFWJEJ�CLNL@+\EI�m�FJDEGBmQLEJD\C?DJEJ�TLNJDOJ'�0BGoL�@LEJ�NR\Cp�TFmKOJp�OeKJ�EL�TL�WJ@�mKGEGpm�TLTKLRGQmKI�NBJQ?E?FLCG��LRmom�'

=GCm�CG�BLT�K?F?KJR?D\�NGBGQLC\EJ�O?B?FJ�omR\�o?RI�GjFJOmFp�DJKmEJ�@m|�NLDEeHL@Jp�O?RJ�F?B?Q�Nm�?Fp�m�T�CJ@J�DNmFLEJ':LSomRI�J@� @?�@� F?B?Q?@� NmK� WLD� B?TFmKOJ� oeR?� EGp� }?� \TFGBELRL� CL� DGoG� eFLQe'� 0?@e� \� DELBLRLD\� ?K\QLEJD\� \OCLSjDOB?@Cm�G'

`� DELBLRLD\� KmDELEJ�N?FCm� mC~?B@LMm�p� LRGp� KmDELF�J�F|GNGB�m�FmDEOJp�LR\B@eFLRL�O?@LCKJBL'�XeFLR?�CG�BLTp�}?�F?B?QNmKQ?E?FR\F�?oRLFep�NmKE\QLF�DJRJ'�̀ �NB?�MG�FmKBLTe�N?FmK?@R\RLO?@LCKJBLp�LRG�KLRm�FGDI�WLD�NB?K?F|eFLRL�NB?FLKJEJ�B?TFmKOe'=mS�O?@LCKJB�FJD@JOLFD\�F?B?Q?Fm�}?SC?�E?Kmp�O?RJ�MGS�oeFe|G�T?FDm@�NBJQ?E?FLCJS�K?�CLDO?Oe'�5KLB�F�N?B?|CGWe�Ke|GRUEJEI�F?B?QLp�FmC�NGBGDELf�FmBJEJ�K?C?DL@�m�N?WJCLf�Q?CJEJoGTNR\C?F?p�}?�KR\�N?FDELCDIO?Q?�FmKKmRe�CG�DEBL�CG'

]T�T�UTRV�YUV

2?F?Rm�NeDEmf�oeCOGB'ALBWmF� TLRJ�JR?D\� @LR?'� 9@?� EmRIOe� \W@mCCe� TeNe� T

NGBGD?RGCJ@�@+\D?@� EL� OLBE?NRGU'� 0LO� FBLCMmp� F� N?ReKCG� mFFGW?Bm'� XeFLR?p�}?� KGHE?� CG� @mQ� ��� �DEJ'� >� CG� E?@ep�}?� oeFDJEJSp�LRG�E?@ep�}?�oeCOGB�FJDCL|eFLF�m�FmKoJBLF�LNGEJE'

4CmQJ� E?NJRJDI'� _C\@J� NBJQBmFLR?� D?CMG'� _Cm� DELFLRJK?F�mp�TLEG�EBJF?|Cm�m'

4EmCJ�@?OBm'�<�oeCOGBm�H?R?KC?p�F?QO?�S�CGNBJFmEC?'��?o

Zw�

EmRIOJ� DO?B?� FGDCL'� <JQR\KLf@?� ��� }?BLCOep� FJomQLUWJ� CLoeCOGB'�4EmCJ�oeCOGBe�N?FJNJCLRJD\�FmK�CL@?OR?��QRJCJp�F?KLDEmOLf�m�DJNRGEID\�QRJCL'

<� CmW� .q� oGBGTC\� FmDE'� <JH?B� FJS�?F� CLDReHeFLEJ'� <BLTTLDEeOLF�LR\B@?F?�K?�FmOL'�PLoJBLf@?�BGWm�S�FJomQLf@?�CLFGBH'<�N?E?Mm�}?DI�WLRLNLf�*�o?RI�GFJOJ�Lo?�KJOJ'�=mD\MI�DGBN?@FJBJCeF�TRGQOL�TjTL�H@LBJ�m�?DFmEJF�N?EmO'�dGOLf@?�T�Q?E?F?UK?�DEBmRe�ToB?fU'�AE?DI��GNCeFg��_F?f�MJFmRmF�'�<mDE'�<JH?B�mW?E'�2LD�NmTCLRJ��H�*�MG�TCLS?@m�T�CGKLRGO?Q?�DGRL'�=J�DH?KJ@?K?�oeCOGBep�L�<JH?B�m�2LD�SKeEI�K?�CJH�F�N?EmO'�:GEGBNGRJF?WGOLf@?�N?F?B?Ee�DEBmRIMmF'

<BG�Em�NBJS�RJ'*�6L|mEIp�}?�TL�RUKJ�m�W?Q?�NBJS�RJ'�`OJ@�WeK?@�TCLRJp

}?�@J�EeE�*�<?CJ�NBJCGDRJ�TLNJDOe�m�EBJF?|Cm�FmDEOJ'*�4OL|mEI�@GCmp�TFmKOJ�F?CJ�TCLRJp�}?�@J�EeE�*�<?CJ�DI?Q?KCm�FC?Wm�TeDEBmRJ�BG~GBGCEL�4X�bLCeR\OLp

}?�F�Ke|G�FL|RJFmS�m�CLQRmS�DNBLFm�O?CGWC?�H?EmF�DEBmCeEJD\�TW?E'�2LD?@'�4GR\CJp�CmW?Q?�CG�OL|eWJp�}?�TCLUEI�NB?�@mDMGCL�?Q?�N?oeEep�FT\RJ�FmK�CI?Q?�TLNJDOe� m�Nm�RJ�K?�CLDp�FGDIWLD�oB?K\WJ�N?E?O?@�N?�N?\D'�<?CJ�RJ�G�EGNGB�NBJTCLRJD\p}?�WeRJp�\O�HR?NMm�oeKeFLRJ�oeCOGBp�DO?B?�FGBCeRJD\�m�CmO?@eNB?� MG� CG� Q?F?BJRJ'� 0GNGB� NBJS�RJ� K?� CLDp� }?o� CLDLR\B@eFLEJ'

1E�m�@Lf��*�RmD�@Lf�FeHL�m�?Wm�<�TLNJDMm��K'�bLCeR\O�LR\B@efp�}?o�FFL|LEJp�o?�TR?FRGCJS

BLCGCJS� DE'� FmDE'� 6?TLO� @?|G� CLNB?FLKJEJ� o?RI�GFJOmF'� `NGBGO?CLCJSp�}?�H?B'�7?@LC�NGBGK�6?TLO?@�FJQ?F?BJFD\p�KG@J�TJ@ef@?p�m�o?UD\p�}?�6?TLO�NBJFGKG�o?RI�GFJOmF�CL�CL�oeCOGB'�<NBLFKm��H?B'�=JB?Cp�\OJS�K?oBG�TCLf�6?TLOLp�EFGBKJEIp}?�FmC�CG�TBLKJEI'�1KCLO�CmHE?�CG�@?|G�BeWJEJD\�TL�RUKJCep\OL�NGBGoeFLf�NmK�E?BEeBL@J'

6L|e� DEBmRIM\@� NLOeFLEJ� FDm� BGWmp� oeEJ� F� MmRO?FJE?@eo?S?F?@e� N?Q?EmFRm'� :LDEeNC?Q?� KC\p� }G� TLEG@CL�*� FJSEJCLFGBH�m�CLDReHeFLEJ'

4EBmRIMm� R\QLUEI� DNLEJ'� `�}G� BLT� K?ORLKC?� NGBGWJEeUTLNJDOe'

W���(� �,��&���a,�����FN�M�F0������� �����&� � ���!���� ���M� 0������� �� &� �� ���&�/ ����(��%A����/

ZwZ

������ & ����� ������ ��� �������%/ ����(��%L����� ���!���� �/�����'���(���/���&�������(��������0��3�� �X�

�LRI� @GCm� DELR?� TL� K?B?QJ@� @?�@� NmKDELB�JC?UDE'�FmDE'�<JBF?U'�<mC�oeF�B?S?FJ@�B?\��6FmEmF�'�<mKTCLWJFD\�FoLQLEI?H� o?\H'�:GFmKDEeNCJS�@mS� F?\O'� dGOLF� FGDCJ� ELOp� \O@Jp�EL�CG�K?WGOLFD\'

dJELU�KLRm'WD���� �K�� ���)� 0&��� ,�%/ & ����� 0�������

���&�D���,���,�%�&��J�����&�%�Pb�M�0��&�,�%/��%'�&� ������ �� � ,�+ ,��� �&������������ ���������&� � ,�+0������� ��d� �J�����%/ ��B�&�%������/ ,�%�&���!��� �������/ ������% ������S���1� ������%0&c�0��&�%G�����G�����&����'���c3��������/B�Yb��0�&����%1�&�������

Pb�M� � N ���� ��� (� �� ���� ,���1�&���& �� ���.&���� ������� �� D�� ���%/ �����&��/ �� &� �� J�����/&� ��D��� ��%������&���������&������% ��&� ��!�0��/%��� 0���0 &�������� 0 ���.&���� &��&�0�������������'���/ �� ,�& )��� J�%�� � &� �� ������� J��� W& ���X/ ��� ��0��%1���G����&�+B���C-&�'�%��CD������X�

<�MU�CmW�\�CG�@mQ�TLDCeEJ'

U �����R���`

�G�TLEG@CLp�TLoBLF�J�FDm�DF?��BGWmp�FmKH?KJ@?�CL�oeCOGB'2B?DE?\RJ�Q?KJCe'�2BJS�?F�oGBGTCGFJS�BLC?O'�_?FO?RL

DN?OmSC?'�`�m�DEmSO?FJS�TLRJ�Lf@?D\�CLQ?Bmp�mC�m�FGBELUEID\K?� oeCOGBe'� <FGDI� WLD� CLDReHLf@?'� 4EmSO?FJS� FJRLTJEI� CL\RJWOe�m�T?BJEI�K?FO?RL�KLRGO?FJK?@'�b?KJCJ�NRJFeEI�N?FmRIC?'

0?WC?�?� q�'[�� Wef@?�eKLBJ�K?� TLRmTC?���ELoJp� O?B?EOm�SCGBF?Fm'��G�e@?FRGCJS�TCLO�EBJF?QJ'

:LOLTeU� CGQLSC?� FJH?KJEJ� T� oeCOGBep� m� W?E'� 2LD� ELFmDE'�XeSCJS�om|LEI�CL�OBLS�Oe}mF'

/J�G�EGNGB�\�N?oLWJF�CLoB\ORmp�oRmKm�?oRJWW\�DEBmRIMmF'�5O?|C?Q?�EB\DRJD\�FmK�H?R?Ke�BeOJ'�<JQR\KLf@?p�\O�K?FQ?RmECmF+\TCm'�2?�O?|C?@e�NmTCLEJ�K?FQe�TJ@e�NmK�TG@RGU'

<RGEmF�T�NmDE?RGU�F�BeOLH�FmDE'�XeSCJS�m��GN?WGg*�X?RI�GFJOJ�CLDEeNLUEI�CL�CLD�T�EBI?H�o?OmF'�Xm|LEI

NB\@?�CL�oeCOGB'PL�CJ@�NBJRmELf�W?E'�2LD�m�TQ?R?�ef�EG�DL@G'

Zw[

<mKoGTNGWef@?�ToB?U'�<mKWmNLf@?��BLCLEJ'�bRJo?OJ@�DCmQ?@om|J@?�F�K?RJCep�K?�RmDe'�1oomQLf@?�N?R\Ce�m�om|J@?�RmD?@'

def@?�CLK�oeCOGB?@�N?DEBmRJ'`O�NmTCm�G�@J�K?FmKLRJD\p�O?@LCKLCE�o?RI�GFJMIO?Q?�FmKKmRep

DE'� RGSEGCLCE� 6BJFGCO?p� TLRJ�JFD\� CL� Q?Bm� T� KF?@Lo?RI�GFJOL@Jp�L�FGDI�FmKKmR�OJCeF�CL�CL��oeCOGB'�V?Q?�K?oBGTLDEGBmQ�6?TLO�*�TCLFp�HE?�EL@�TJ@ef'�X?\FD\�CLD�m�CL�JH�@mC'

2mDR\�NmFOmR?@GEBL�omQe�N?WJCLUEI�CL@�@RmEJ�C?QJ�m�BeOJ'2L@?B?WJEID\� Q?R?FL'� _R\� CLD� N?FmEB\� TLDJRICG'� PLS@Lf@?DELC?FJ}L�m�FmKN?WJFLf@?p�WGOLUWJ�F?B?QL'

_G}?�FmKN?WJF�Jp�om|J@?�KLRm'�2B?S�?F�J�NmFOmR?@GEBLpFmKN?WJFLf@?�TC?Fe'�<mDE'�0GE\CL�EBJ@LfEID\�FFGDI�WLD�OeRG@GEL'7LK|e��S�FmKmSEJ�FmK�CI?Q?p�o?�F�o?U�CL�CI?Q?�oeKG�TFGBCGCJSF?B?|JS� F?Q?CI'

*�<RLDCG� E?@e� \� EeEp�*� FmKN?FmRL� FmKFL|CL� KmFWJCL'�*6?RJ�FNLKG�OeRG@GECJOp�EBGoL�oeKG�S?Q?�TLDEeNJEJ'

<?B?Qp�KmS�?F�J�K?�NGB�?Q?�@mDM\�CL�?Q?�DN?WJCOep�F|GKLRm� CG� Nm�?F'�=LoeEIp� N?oLWJFp� }?� T� CL@J� OeRG@GE'�=JN?KLRJD\�CL�Q?Re�Q?Bep�CL�TBeoJp�}?o�TKLRGOL�oLWJEJp�}?�F?B?QB?oJEI'�A?R?KCGp�NB?CJORJFG�oGBGTCGFG�N?FmEB\�EL�@?OBJS�DCmQNmK�C?QL@J�K?OeWLUEI�CL@'

=eDJ@?�TLH?FeFLEJD\�Ke|G�?oGBG|C?p�o?�NGFC?�TLLR\B@?FLC?mC�m�o?RI�GFJMIOm�DNGMQBeNJp�m�FDm�K?FO?RJ�Cm�DGRL�TLoRI?O?FLCm'<FGWGB?@�NGBGH?KJ@?�K?�K?B?QJp�\O?U�F?T\EI�ORI?MJ�T�RmDe'

<?\OJp�}?�WLDE?� H?KJRJ�CL�B?TFmKOep� N?WeFLUEID\�OBL}G'PLEG�FDmH�mC�JH�H?R?K�NB?S@Lf�K?�OmDE?O'�0BG@EJEI�EmR?p�DOLWeEITeoJ'�<�KG\OJH�DEBmRIMmF�N?KGBEm�W?o?EJ'�2GBGNBLFR\UWJDI�WGBGTKBmE�CLK�N?E?O?@p�DE'�FmDE'�XLSKLO�FNLF�e�QRJo?OJS�\B'�:G�TFL|LUWJCL�Cm}?p�FmKBLTe�DO?WJRL�EeKJ�FmDE'�0GE\CLp�}?o�S?@e�K?N?@?QEJ'PL� D?o?U� E\QCG@?� \RJWOep� L� FmKELOp� TLS�?F�J�OmR?@GEB� F� RmDpTLH?KJ@?�F�ELOG�@mDMGp�KG�CLD�F?B?Q�CG�@?|G�N?oLWJEJ'

:mWp�N?FCL�EBJF?QJ'deEJ� N?� DGRLH� QLFOLCC\� D?oLO'� 2GBGRLTJ@?� N?@m|

N?DEJCLCm� \RJMmp� }?o� EL@p� @m|� �H� QmRR\@� TL@LDOeFLF�JDIpNB?DJKmEJ�TLFEBL�CmS�KGCI'�PL�D?o?U�QmRR\@�@LDOef@?�DRmKJ'6?|C?@e�@?OB?�F�C?QLHp�EL�EBGoL�oeKG�KCUFLEJ�oGT�F?QCJ}L'

:LKH?KJEI� .�� oGBGTC\'� <|G� CL� DFmELCOe� WeEJ� F?B?|mN?DEBmRJ'�<?B?Q��eOLf�DRmKmF'�<�RmDm�WeEJ��e@�RmD?BeomF'�dGBGTWLEJCC\�oLWJ@?p�\O�NGBGH?K\EI�QLS?Fm�*�MGp�TFJWLSC?p�F?B?|m

ZwY

B?TFmKWJOJ'�6?|CJS�T�CLD�DJKJEI�CL�WLEJCCm'�:G�FmRIC?�NmKCGDEJQ?R?FJ'�<mK�H?R?Ke�EB\DG@?D\p�@?F�e�NB?NLDCJMm'

<mDE'�4mBJS�m�FmDE'�<JH?B�CLBmOLUEI'�A?B'�=JB?Cp�W?E'�2LDm�FmDE'�4NLBELO�DJK\EI�@?FWOJ'�<mDE'�0GE\CLp�DE'�FmDE'�7JoLROL�mDE'�FmDE'�XLSKLO�WLD�FmK�WLDe�eD@mHLUEID\�m�N?Em�LUEI�mC�JH�*MG�FDG�KR\�5OBL�CJ�

P�WLD?@�O?|CJS�T�CLD�TLO?DEGCmFp�N?DJCmF'�2?OLTLRJD\�omRmNR\@Jp�EL�NmKCm@LEJD\�CG�FmRIC?p�}?o�MJFmRm�CG�N?oLWJRJ'�`O}?o�CLD�EeE�F?B?Q�TLDEeOLF�*�NJ�J�NB?NLR?'�4E'�FmDE'�XLSKLO� mFmDE'�0GE\CL�B?TTeFLUEID\�EL�CLEJBLUEI�DCmQ?@�C?QJp�o?�N?WLRJomRmEJ�NLRIMm'�2?DJCmRJ@J�BeOL@J�DN?OmSC?�EBeEI��H'

�GS�H?R?K�KR\�CLD�DEBL�CJSp�o?�@J�FJS�RJ�T�oeCOGBe'<� oGBGTCGFe� CmW� TmBFLRLDI� HeBE?FJCL'� =GEG� DCmQ?@'

6?BJDELf@?� T� MI?Q?� m� F� ?KCmS� HLEm� oGBG@?� WFGBEOe� OLBE?NRm'PLH?KJ@?�F�QeDEJS�D@GBGO?FJS�RmD�CLK�DGR?�0'�0eE�F|G�@?|CLB?TORLDEJ�FLEBe'�<mEGB� TLFm\F� TL�CL@J�DRmKJ�DCmQ?@'�4EGRJ@?WLEJCC\�omR\�F?QCJ}L�EL�NGBGDJK|ef@?�EBJ�KCm'

4E'�FmDE'�XLSKLOp�DmF�J�F�@mDMmp�KG�CLSomRI�G�OeBJEI�KJ@pFmKQLC\f�S?Q?�FmK�DGoG�BeOL@J�m�EJHGCIO?�DNmFLf�NmK�CmDg

��&������ 1�����/�&����������3/L���0����� ��+��/ ��'��������3�L� �������� �/%0�������� ���1�����,�����������%������������)��!��� �&�%����0�� �/���������� ����� ��� ��-���.��B� ��&��&������

6?|CJS� TL@LTLCJS� NGWGC?U� OLBE?NRGUp� \O� FeQR\B'<mDE'� 0GE\CL� ?K\QCeRLD\� F� �ELCJp� }?� �H� F?CL� KmDELRL� FmKW?E'� 2LDL'� >� �S� EGNRm�Gp� m� @J� F� MGS� DN?Dmo� @LDOef@?� NGBGKF?B?Q?@p�}?�DGBGK�CLD�KmFWJCL'

.Y�oGBGTC\�DCmQL@J�TLOBLKLf@?D\�K?�DGRL'�4GR\CJC��KG�~mB?UK?� oB?Ke� NGBGFmBJEJp� WJ� CG@Lf� EL@� TLDmKOJ'�=J� ?oGBG|C?NmKDeFLf@?D\�TL�CJ@'�:LK�_CmDEB?@�TCm@Lf@?�?CeWm�S�F�W?o?E\HCL�o?De�C?Qe�NGBGH?KJ@?�QRJo?OJS�N?�N?\D�_CmDEGB'

<mDE'� XeSCJS�BLKJEI� mEJ�CLK� DGR?�0'� bRJo?OJ@J� DCmQL@JpRGKFG�E\QCeWJ�C?QJp�SKG@?�FGBHL@Jp�N?R\@Jp�RmDL@J'�0mR?�@Rmfp@+\TJ�o?R\EI� ELOp�}?� Q?Km� �H� KmEOCeEJD\'�PLH?KJ@?�F� RmDp� CLKDGR?@�/'�0eE�DNJ@?�KFm�Q?KJCJ�omR\�F?QCJ}L'�<mKELO�mKG@?�KLRm'

0mRIOJ�TB?oJFD\�KGCIp�FmDE'�XeSCJS�mKG�RmD?@�K?�NGB�JH�HLE

CL�B?TFmKOe'�<GBELfEID\�DO?B?�m�TQ?R?�efp�}?�F�DGRm�KFL�FmKKmRJ�N?Z��o?RI�GFJOmF'�<?CJ�}?KGCC?�?oH?K\EI�RmDJp��eOLUWJ�TL�DRmKL@J'

def@?�OBJO'�<�CL�?@e�CLNB\@m�HE?DI�om|JEI'�2?OLTeUEID\DGR\CJp�?K\QCGCm�F� DJomBOLH� m�Oe~LSOLH'�2GBGF?KJ@?�T�CJ@JoLRLWOe'� `OJSDI� WLD� EBJ@Lf@?� DGR\C� omR\� DGoGp� L|� NmTC?N?N?ReKCm�TFmRIC\f@?� �Hp�TLDEGBmQLUWJp�}?�F?CJ�FmKN?FmKLUEIQ?R?F?U�TL�EGp�\O}?�EeE�DI?Q?KCm�Lo?�TLFEBL�oeKG�?oRLFL'

<C?Wm�NGBGH?KJ@?�F�mC�JS�RmDp�KG�DO?B?�TF+\Tef@?D\�T�KF?@LoBLFJ@J�F?\OL@J�*�DE'�FmDE'�bLfFJ@�m�FmDE'�2?OmBCJ@'�6Bm@�CJHpNBJDELUEI�K?�CLD�FmDE'�2mK?S@Lp�K'�PLBmWCJS�m�K'�bBm@'

2GFCm� DGR\CJ� NmKFGTRJ� CL@� HLBWmp� TL@LDOeFLRJ� DRmKJp� mN?WLR?D\�WGOLCC\�FGDCJ�F�DCmQLH'�X?RI�GFJOJ�B?oR\EI�}?C?WmNmK�CL�J@�RmD?@�TLDmKOJ'

1KCmf��C?Wm�DNLRLHCeRL�CL�L�O?RJoLp�m�DE?FN�N?Re@+\@�Nm�?FFJ}G� KGBGF'�=J� ?WmOeFLRJ� F?B?QL'� 0L� FmCp� @LoeEIp� MI?Q?� CGTLNBJ@mEJF'

<KGCI� O?|CJS� QBmf� BeOJ� CL� QBLCm� F?QCJ}L'� 2LRJEJ� CGFmRIC?'

<mDE'�0GE\CL�NGWG�T�OBL\C?��oLBLo?Rm�NRLDEJCOJ�EL�?oKmR\fO?|C?Q?�mT�DEBmRIMmF'

4CmQ�NLKLf�KLRm'�0e|RJFm�FmEBJ�QeKeEI�F�DELBJH�DE?FoeBLH\RJMI�m�oeOmF'

�,���0&������& ����� ��&���/E�&������&���������/���&��+��& ������ ��) &�.)�����/�&����.)�+��% ������

2JDLC?�TJ@?U�qkZn�*�Zw�--'�*�2GBGNJDLC?�CL�@L�JCmF�TJ@?F?@e�oeCOGBm�NmK�TG@RGU�TJ@?U�qkZw*Zk�--'

Zww

�fhg6�=���|=C7?<�*~6;AIhS7;<6C�7A

jPNMkjPNK

*=ggA<h

������������-�������%������{���� "����%�u������"����������!�����������u" ��u�qkZkp�-��,", (�,(�����"����������� u'�!������i����,���kp�qkZkp����"�%�"�$���-��u� ����������%������� ���"�%p{" ��%������"��"�,��������r� ��� ��"��"�����u"��u������������ "�� �-"�����������u�����"�(p�"�%�u� �����" (�{���%�%p����� "��{��%��{��������p��"��� "����u������"� ���x�����%���{"���,�(�%�"�%�������$������{������-���"���-� ��� " �%� �������%������%�u�����������$����-������"������u�������"���"����-�������,��"��������� � ����x���p�������������" ����"%��������u���%��'

!����������"����%��$����%�,������%����$�����{�������u�qkZn*qkZw� "�%� ���(-�%� ��� ���� "�� ��%������� ,(� �$�'� �����"�"�� ���"������������+�"��%����$�����{�������u�qkZw*qkZkp������� ���p�{�� �{"��-�, ����%����qk[��������� ����%���������� ����(�������h���������!�������������h�������p��uu����"��"���$ ��-����u������"���� �u����"�{"�� �%�,(�����"�%�{������u�������"���"����%��$����%�������� ��$(�"����u�%��-��"�������$$ ��"$"���������"�(�"�%����������������'

���� ����(� ,�$���� ��� &���� .kp� qkZn� {���� �������� {"�"�u"��������-"�(�����"�%��p�{����"� ���������"��(�"���"%��� �%���'� �"�� � �{��� r�{���p� �� ���� �� �j��������� �u� ��u�� �� ��"��"�,���p�{"����"���$��%�{������������u������ "�%������"���'�{��������� "���p� ��� ��-���,��� wp� qkZnp� ���{"�� -������%� ������"�%����u�����.Z��" �� " ��� ������"����"���u�������!���"�%�{"��%� ��"��%�,(�"��� %����������u��� ��"�(��" ���������� "��p������$������� ��"�(���������������'

���� �u���������,�������������%�-�( �� �$� " ���"%)�������p��-� �" (�u�����������{���{"���������%������ �� ��%������'�x��u� ����"�$�p���"--�%�"�%�����$�����"��%�"�������� �� ��%�������{�� %�,� ��������� ���"������-���,"�� �'������,�������"����"��"������%�"�%u�"�u� �{�� �� �u����������-���"����"�������������u���"�%�"��� �,������ u�$�����'�x��" ���{ �%$�%p���{����p� ��"��"�$��%�$����� "�����,��", �����u��%�����- " �����"�(�-���"� ��$� ��%������'

�������������u� �u���������,�����p��� "������"���$�����-��- �

Zwk

��� �"�-�%���"�����p� ����"�������$$ �� ����"���"�����-- ����"�%�($����p����������u������u���-� ��� " ��%� "�����"�%���"����$p�-��-"j�"����� u��� u������ ����$$ �p� %"� (�%"�$���� �u� ,���$�%�� �����%�,(�-� �" ��������u�� ��p�"���" �%�� ��,�%��������������%��"� '

���� ���$�" �����{���u� ��������� ����{��������"����������,���������������"�%�������" �%"�$������� �"'�x��%�������"�������� �"-�����������������p�{�� ����"%�� ����"�-�"(��'�x��" ��%�� ��,��� ���� "�� u�� ��$��"�%������%��"����u�������%���r�����u����,�����'����� ��$�"�%������-���"������u�%��"��p�������u� ����j�"����"����p�{"��������� (�-�" �� �%�u����� ��"����" �-��-����p�"�%-��,", (����,��%�����$���-� ��� (���$�����'��,����"� ���u��� �j$�����"�%��"����" ��� �%"(��{����" �������"%�����" �����" ��{"��"�j������%��� ��������-��������" ���u����������$�������$�'

�u��-� �" �����������������-����� ���������,�������u������"�"�p������ (�{��"�����������v �������" �� ��-"�('�����"�������"�������$�����-�"���� u��� ����� ���"$����p��v �-����" �"�%�-"������ u��������" ����{���%�����%����� �u�������������$$ ��u���u���%��"�%���%�-��%�� ���u�����-��- �'����"��%�"��"�����" p�����{"��", �p��� �v���� "� ���(� "�$�p� -�������� "�%� " ���$� �uu� �� ��� �����" � ��-"������-���"�� (�,� "�����u�������$������ �$�� �p�u�����$��"�%��� uj%�� �- ���'�x�����" ��"���{"����"�������������+�"�u��������� "$�����r��(���"������������ �(�"'�����%��%������u�����"�� �� ����"� ������ "���qkZwp�{��������-���� �" �%���" (�%�� �"�$�%{���%��$���������" ('

������{�����"�(�������� ��{��������������%��$����%�{���"� �%�u�����"��������$������u���"���'����������"����"��-� �" ���������u������"�%��������" ��u� ��������������$$ ��u�����%�-��j%�� ���u������� �����('�x���-� �u� " (�{������",���������������� �{����p���"��������{�-�����" (p�{�������������%�"���{�� ��-��ju�����$��"��������-���"���u�� ���������������%��$����%'

�u��-� �" ����������"����������� �������u�������������{������������ %�� ������ ���� ���� �u� $����� "� �" �� �� ��� �������� �(�"����� ��%��� �� ���� �� �p� "�%� ����"���� �����{���� ������ ���%� ����"����{�� ��{"����%���������� ����� '

��������������%�����"� ��.�p�qkZwp�{���� ����,������ ��,���$�"��" ��%�,(����������������-��"�%������������$���-����u�� �%���","�%������"�%���������"���������� ���'����"��", (p�������{"���� �����u�-������� �%����$�����"��" �'

Zk�

$�������%��)����&�&��

E�+K�� ��*� ���/ !�����/ �"U"

!�"�������&�&��)!���� �&��

�� ������ R������ ����B�/ �"UU

������� ����&�&��� ������/ !�����/ �"#Y

����� R����� �� ������� ����&�&�� ���,��/,��0����"MN

Zkq

+�����������&�&���

�� �����P \�������/ !�����/

�"�b

!������ ���"� ����&�&������ ������ !"���&�� Z����� ������ 0�*&�� ��� ���,��� ���%/ ��j�*����,��� �����/ ���&��� Q��*/* &��� 4��������,��� �����/ ���'��� 4�������d*����,��� ��� Z&��&�[/S*�� D����/ ��(�� 4��������,��� �����/ i�� �&���L����& ���/ ���'���

4�����/ 4����L����& ���%/ ��,*'�������/i&��� D����/��'S*��

Zk.

O"��� ����&�&��)[ ��� "� \"�� ]�Q ���� ���� �� � R������ ]�Q ��� I���g�/ �"Y"

O"��� ����&�&��)[ ��� �� ����

���&���� ������� �"�� I���g�/ �"Y"

Zk�

[������"� �"� ������� �"���� ��Q����"� � "����� ����� ���""� �� ��"� ��� ^����

G�*&� &���*1����K��0������e �*� ��+�����&���(�������&� 0&��)� ���1����K�������� ���0����,���� ��� 0��� ��)��,�.&�

�� ������* &*% ���&�% ���*��

������� ����&�&���� "� ����� ��"N�R����� !���� �&����� ��� ���%�� ��������� � � � _� �&����� ��� O��� `���

S*��/ �""b

*��C������ �� � � � _� �&�������� ���P� �`���

��� O��� `���

ZkZ

��� ��"���� ������� ������� �"���� �� ��Q� ����� ����� ����� ������ I� �����&���������0��(��� ����1�*� &�����-��/A�&*�/A����*�/!�����

*"�� ���a�������� ��� �� ������ Z*^��� % ����"� � [� "��� [���"�

�* �� ��)����� J���������,��� ����� M ����� �""U������� 0�*&�� Q���� D�1�& ���/)�� ������S*�* ���,��� ���.K

A&����� h. � ���/ ��*�������,��� ���/ &��&� �� J������&*�

S*�� Z\�������[���,��� ���KA&����

O"��� ����&�&��)[ ��� �"����P� �� � R������ ]�Q ���

J*�����B�/ �""P

Zk[

O"��� ����&�&��)[ ���� ������� Z*^� �"� ����`���

!�.&/ �""P

O"��� ����&�&��)[ ���� ������� !����)�������

I���g�/ �""�

ZkY

RVY�R$Y RU$_"R �dY���]��ce

�Gp�@LoeEIp�F�O?|C?Q?�T�CLD�CG�TLEGBRJD\�T?FDm@�e�NL@+\EmEm�FBL|GCC\�m�N?WeEE\p�}?��H�@J�NGBG|JFLRJ�F�NGB�m�N?F?fCCmB?OJp�O?RJ�CL�DE?BmCOLH�DFmE?F?��NBGDJ�N?�MGS�m�N?�E?S�omO�}GCG�T?FDm@�}mRIC?��E?Km�TLRmTC?��TLFmDJ�N?WLRJ�N?\FR\EJD\�FmDEmNB?�EGp�}?�F�5OBL�Cmp�L�T?OBG@L�CL�EmS�EGBJE?Bm�p�}?�F�CL�mSNeoRmOLMm���S�CL�m@+\��PLOGBT?CC\�p�CGTFL|LUWJ�CL�TLOmCWGCC\K?FQ?��m�|?BDE?O?��DFmE?F?��FmSCJp�FGKGEID\�KLRm�ToB?SCL�o?B?EIoL'

�m� FmDEmp� H?W� F?CJ� CL� N?WLEOLH� oeRJ� WLDE?� NGBGN?FCGCmCGE?WC?DE\@J� m� CG\DC?DE\@Jp� }?� FJNRJFLUEIp� N?jNGB�Gp� TCGN?mC~?B@?FLC?DEJ� m� CGT?BmfCE?FLC?DEJ� F� eOBL�CDIOmSNB?oRG@LEJMm�We|JH�|eBCLRmDEmFp�\Om�WLDE?�NmKKLUEID\�F?B?|J@NmK�GNEL@p� L� N?jKBeQGp� T� CGCLFJDEJ� F?B?QmF� K?� FDI?Q?eOBL�CDIO?Q?p�*�CG�@?QRJ�NBJH?FLEJ�~LOEe�m�B?T@mBmF�o?B?EIoJ'

=J� NL@+\ELf@?�}G� Em� FmDEOJ� NB?� �TR?WJCCm� oLCKJ�p� NB?�~L�JDEmFDIOJH� CGK?oJEOmF�p� NB?� �LCEJDG@mEDIOm� GRG@GCEJ�pNB?� �GDGDmF�� m� �FRLD?FMmF�p� }?� N?F?Rm� DH?KJRJ� T� DE?BmC?OTLHmKCI?�� NBGDJ'�:L� �H� @mDMG� FJDeFLRLD\� WJDELp� ?oEB\DGCL� ToBGHCm�m�F?B?|?��NB?NL�LCKJ�NBLFKL�NB?�EGp�}?�CL�5OBL�Cm�SKGFL|OL�FJTF?RICL�o?B?EIoL�T�?OeNLCEL@J'�2GBGK�TLHmKCm@�DFmE?@DELFLRL�NB?oRG@L�5OBL�CJ�*�F?UUW?��5OBL�CJ'

_?Q?FmB�EBI?H�KGB|LF�*�4447p�2?RI}m�m�dGH?j4R?FLWWJCJpeORLKGCJS� KR\� DNmRIC?Q?� N?o?BUFLCC\� 5OBL�CDIO?��2?FDELCj IO?�� 8B@m�p� D@GBEI� CL� N?Rm� o?U� N?RIDIO?Q?� FmMGj@mCmDEBL?o?B?CJ�QGC'�4FfBWGFDIO?Q?p�L�FOmCMm�NGBGHmK�ToB?SCJH�WLDEJC528�BGSK?@�WGBGT�dGH?j4R?FLWWJCe�K?�PLHmKCI?��:m@GWWJCJ*�MG�N?KLRI�m�~LOEJp�}?�TLOEeLRmTeFLRJ�DNBLFe�eOBL�CDIO?�FJTF?RIC?��o?B?EIoJ�F�DFmE?FmS�QB?@LKDIOmS�Ke@Mm'

�?SC?� OmRIOL� B?OmF� NmTCm�Gp� ?OeNRGCm�|GBEFL@J� OB?FJpK?oJFLUEID\�K?�CLD�WGBGT�TLRmTCe�TLFmDe�@L�JC?NJDJ�MJH�EBI?HOCJ|?Op�\Om�@J�FJKLRJ�F�CL�?@e�FJKLFCJMEFm���PJ@?U�F�oeCO�Bm�p�6BmTI�D@mH�TLRmTL�p��4N?@JCJ�W?E?F?Q?�1DEB?FGBHL��'��\�QGB?�WCLK?oLp�TCLCL�BLCm�G�CG\DC?�m�~BL�@GCELBC?p�DE?�EI�DI?Q?KCm�NGBGK?WJ@L�WJELWL� F�MmRmS� DF?�S�N?BJFLUWmS� QRJoJCm� m� FGRJWm'��JFm?oBLTJ�OBJFLF?��o?B?EIoJp�|?BDE?O?Q?�F?B?|?Q?�QCmEe�m�FL|OJHDEBL|KLCI�CLB?Kep�\DCJS�?oBLT�mKG�p�TL�\Oe�M\�o?B?EIoL�FGKGEID\pFJF?K\EI�NGBGK�CL@J�LFE?BJ�DN?QLKmF�e�B?T@mBLH�m�~?B@LHp�CL�\Om�@�K?TF?RJRJ�?oDELFJCJ�m��HCf�F?R?KmCC\�@JDEGMEF?@�DR?FL'

Zkn

�m� DN?QLKJ� \O� NmK� LDNGOE?@� FmSDIO?F?jELOEJWCJ@p� ELO� mN?RmEJWCJ@� KLUEI� CGTFJWLSC?� MmOLFJS� m� oLQLEJS�@LEGBm\R'� <CJH� T?oBL|GCm� KFL� BmTCm� ELOEJWCm��R\HJp� \OJ@J�OGBmFCJMEF?FJTF?RIC?Q?�BeHe�FGKG�DF?��ToB?SCm�m�NmKNmRICm�OLKBJ�F�CGBmFCmSo?B?EIom�T�F?B?Q?@'

:L� PLOGBT?CCm� F|JFLC?� ELOEJOJ� ?NGBeFLCC\� CG� EmRIOJD?EC\@Jp� LRG� m� omRI�J@J� FmKKmRL@J'� 9�� TBLTOL@J�@?|eEI� oeEJ?NJDLCJS�F�ABmCL�omS�F�/m}LFm�b?Bm�CmS�Lo?�TCLCm�WJELWL@�TmC�JH�NeoRmOLMmS�LOMm��CL�XmBWe�WJ�bBeoG�mF'�A?W�ABmC�e�DF?�H@mBOeFLCC\H�B?TBmTC\f�OmRIOL�ELOEJOp�DE?D?FLCJH�FmKKmRL@J�528CL�PLOGBT?CCmp�NB?EG�MG�EmRIOJ�CULCDJ�WJDE?�mCKJFmKeLRIC?Q?HLBLOEGBep� Te@?FRGCm� FKLWGU� N??KJC?OJH� O?@LCKJBmF'� <TLQLRIC?@e�*�MG� N?FDELCDIOL� ELOEJOL� ?NGBeFLCC\� omRI�J@JWLDEJCL@J�\O�F�CLDEeNmp�ELO�m�F�?o?B?Cm'

b?R?FCG�O?@LCKeFLCC\�528p�NGBGoeK?FeUWJ�FmKKmRJ�528CL�EGBJE?Bm��5447�m�NBJDE?D?FeUWJ��H�K?�C?FJH�~?B@�NmKNmRIC?jO?CDNmBLEJFC?��o?B?EIoJp�DFmK?@?�CG�FF?KJEI�|?KCJH�T@mC�CLPLOGBT?CCm'� 0LOG� Bm�GCC\� KJOE?FLCG� DN?WLEOe� ELOEJWCJ@J@?@GCEL@Jp� N?� TLOmCWGCCm� FmSCJ� CLoJBLf�}G� S� N?RmEJWC?Q??o�BeCEeFLCC\'�4RLo?�T?BQLCmT?FLCL�C?FL�N?RIDIOL�LK@mCmDEBLMm\m�CGFJ�O?RGCm�N?RIDIOm�ToB?SCm�DJRJ�CG�?NLC?FeUEI�DELC?FJ}Lm� KLUEI� T@?Qe� T?BQLCmTeFLEJp� FJ�O?RJEJ� m� FNB?FLKJEJ� F?KFGBEJS� omS� FmKN?FmKCm� DJRJ� 528'� 6?RJ� EGBJE?Bm\� 4447FmKQ?B?K|efEID\� FmK� DFmEe� }mRICJ@� O?BK?C?@p� PLOGBT?CC\TLRJ�LfEID\�fKJC?U�eOBL�CDIO?U�GEC?QBL~mWC?U�EGBJE?BmfUpK?DEeNC?U�N?�TLOmCWGCCm�F?fCCJH�KmS�KR\�?OL�m�FeHL�TLHmKCI?Q?DFmEe'� >� MI?@e� ORLNEJO?Fm� eOBL�CDIO?�� EGBJE?Bm�� NBJNLR?CGTFJWLSC?� FL|RJFG� T?FCm�CI?N?RmEJWCG� TLFKLCC\� F� NR\CmDeWLDCJH�FJTF?RICJH�T@LQLCI'�<KLR?�NB?FGKGCL�FB?K?F|�KF?HN?F?fCCJH� B?OmF� ToB?SCL� o?B?EIoL� CL� MI?@e� FmKEJCOepTLFGB�GCL�FJDJRO?U�EBI?H�D?EGCI�F�PLHmKCU�:m@GWWJCep�}?oGTNBJORLKCJ@� m� oRJDOeWG� eDNm�CJ@�BGSK?@�NB?S�RJ�N?CLKq����OmR?@GEBmF�F?B?|?U�EGBJE?BmfUp�TCLS�RL�FGRJOJS�FmKQ?@mCe� FmRIC?@e� DFmEmp� TFGBCeRL� eFLQe� CL� 5OBL�Cep� TLOEeLRmTeFLRLeOBL�CDIOG� NJELCC\� F� DFmE?FmS� NeoRmMJDEJMmp� L� N?RmEJWCmWJCCJOJ� PLH?Ke� NBJ@eDJRL� FBLH?FeFLEJ� 5OBL�Ce� \ON?EGCMmSC?Q?�D?UTCJOL�F�S?Q?�@LSoeECmS�B?TQBm�Tm�4H?K?@'

XGTCLDELCCJS� F?B?|JS� CLDEeN� FGRJOJ@J� DJRL@JpBL~mC?FLCm� @GE?KJ� T?FCm�CI?�� m� FCeEBm�CI?�� L�GCEeBJ� m

Zkw

NB?F?OLMm�� NBJ@eDJRJ� b?R?FCG�6?@LCKeFLCC\�528�NGBGORUjWJEJ� WLDEJCJ� T� N?FDELCDIOJH� @GE?K� o?B?EIoJ� CL� NmKNmRIC?jO?CDNmBLEJFCmp� E?oE?� B?TWRGCeFLEJ� �H� CL� @LRmp� NBJF+\TLCm� K?NGFC?Q?� EGBGCe� QBeNOJ'�=LRm�*�}?o� @?|CL� oeR?� N?fKCLEJ@?@GCE� O?CDNmBLMm�� T� ToGBG|GCC\@� �HCI?�� ?NGBLEJFC?DEJpNBJF+\TLCm� K?� ?OBGDRGC?Q?� EGBGCe�*� T� eFLQJ� CL� EBeKCmDEI� eTF+\TOLH�m�CGoGTNGOe�NB?F?OLMm�'

:L� EGBJE?Bm�� 5447� NGBGHmK� CL� C?Fm� ~?B@J� o?B?EIoJpCLEBLNR\UWJ� CL� NGBG�O?KJ� NDJH?R?QmWC?Q?� m� EGHCmWC?Q?HLBLOEGBep� FJ@LQLF� NGFC?Q?� WLDe'� �m� NGBG�O?KJ� \DOBLF?FmKKTGBOLRGCm�F�DN?QLKLH�RUKGSp�}?�T�K?FGKGCJH�K?�OBLU�?KCJH~?B@�NGBGDO?WJRJ�F�KBeQm'�ABmC��GR\DEJWCJS�'�4O?B?�ToLQCeFC?Fm� e@?FJ� m� K?DE?DeFLFD\� K?� C?F?�� ELOEJOJ'�1DEB?FGBH�*��EJFCJS�p�S?Q?�oBLFeBCL�F?\MIOL�FKLWL�NGBG|JFLf�MmRe�DOLRUNDJH?R?QmWCJH�N?EB\DGCI�m�B?TWLBeFLCI'�<mC�TLRJ�LfEID\�FmBCJ@ELOEJMmp�}?� FFmS�RL� F�S?Q?� OmDEI� m� OB?Fp� NBLQCG�BeHe� m� o?�F'PCe}LCC\�F?B?QL�m�DEBL|KLCC\�CLB?Ke�CG�KLUEI�S?@e�DN?O?UpFmC�NBLQCG�?KFGBE?��o?B?EIoJ�m�F�CmS�QGB?SDIO?U�D@GBEU�QJCG'

�m�EBJ�OCJ|OJp�\FR\UWJ�D?o?U�K?Oe@GCELRICJS�@LEGBm\RCL�?�� DeWLDC?�� FJTF?RIC?�� o?B?EIoJp� MmCCm� ELO?|� DF?fUNDJH?R?QmWC?U� DE?B?C?U'� X?� MG� CG� EmRIOJ� DeHL� HB?CmOLpTmDELFRGCC\� ~LOEmFp� N?KmS'� <� CJH� FmKKTGBOLRGCG� EGp� }?CLSFL|RJFm�G�F�o?B?EIomg� Ke�L� ���C?Dm�F� m�BGLRmTLE?BmFp� Ke�LRUKGS�e�N?FC?Em�DF?f��@C?Q?QBLCC?DEJ�*�FmK�?KWLSKe�C?DEJK?�DEBLHep�FmK�DL@?N?DF\EJ�K?�TBLKJ'�<�CJH�FmK?oBL|GCJS�CLB?KF�?o?H�S?Q?�NGBGOB?\Hg�\O�LOEJFCJS�DNmFeWLDCJO�FJTF?RICJHT@LQLCI� m� \O� ?o+fOE� ?o?B?CCJH� KmS'� >� EeE� EG|� TLC?E?FLCLBmTC?B?KCmDEI�~?B@p�F�\OJH�CLB?K�@LCm~GDEef�DF?f�DELFRGCC\K?�o?B?EIoJ�*�FmK�LOEJFC?��Km��K?�NLDJFC?Q?�DNmFWeEE\'�2?FC?EeK?Oe@GCELRIC?Q?�?oBLTe�Cm\O�CG�N?DRLoRUf�Deo+fOEJFmT@�LFE?BmF'

4N?QLKJ�*�MG�CG�RmEGBLEeBCm�EF?BJ'�PL�ELOm�CG�FFL|LUEI�H�DL@m�LFE?BJp� m�@J�EG|�DFmK?@m�CGK?RmOmFp�}?�CG�KLUEI�MJ@DN?QLKL@�N?FC?��RmEGBLEeBC?��OFLRm~mOLMm�'

9H� @J� FJKLRJ� \O� K?Oe@GCELRICJS� K|GBGRICJS� @LEGBm\Rp}?� FJS�?F� FmK� DL@JH� eWLDCJOmF� FJTF?RIC?�� o?B?EIoJp� ToGTN?DGBGKCI?��o?S?F?�� LE@?D~GBJ'�8FE?BJ�CG�@LUEI�}G�LCmNGBDNGOEJFJ�WLDep�LCm�FNRJFe�mC�?��LE@?D~GBJ�*�EJH�WJCCJOmFp}?� Ke|G� WLDE?� CLFmEI� N?TL� DFmK?@mDEU� LFE?BL� FJOBJFR\UEI?oBLT�NGBG|JEJH�N?KmS'�>�WJCp�m�S?Q?�TL~mODeFLCC\�CL�NLNGBm

FmKoeFLUEID\� F� |?BDE?OmS� K?omp� }?� FJ@LQLf� oGTNGBGBFC?�WeSC?DEJp� oGTCLDELCC?Q?� CLNBe|GCC\� KeH?FCJH� m� ~mTJWCJHDJRp� O?|C?WLDC?�� Q?E?FC?DEJ� TLQR\CeEJ� F� FmWm� D@GBEmp� LNGBGKeDm@�oGT@G|C?�p�NB\@?�CLKRUKDIO?��FmBJ�F�mKGLRJp�TL�\OmFGKGEID\�o?B?EIoL�m�KR\�\OJH�|?KCm�|GBEFJ�CG�f�FGRJOm'

4EF?BJEJ�CL�?DC?Fm�MI?Q?�@LEGBm\Re�DNBLF|CU�RmEGBLEeBe@eDJEI�DELEJ�TLFKLCC\@�CL�JH�@JDEMmF�DR?FL�CL�G@m�BLMm�'�8�H�e�CLD�CG�oBLOef'�P�D?B?@?@�K?F?KJEID\�DEFGBKJEJp�}?�MI?Q?K?EGNGB�}G�CG�DELR?D\'�<mK?@L�CL@�eDNm�CL�DNB?oL�@?R?K?Q?L@GBJOLCM\� eOBL�CDIO?Q?� N?H?K|GCC\� �7?@LCL� /LNmOL�*�8CKGB�BLFCK�p�KBL@Lp�4a8p�qk[.�B'�p�oeRJ�EG|�KG\Om�DNB?oJBmTCJH�CGOFLRm~mO?FLCJH� LFE?BmF�}G� TL� NL@+\ECJH� ELo?B?FJHWLDmF�F�cFB?Nm���m�Mm�?DELCCm�TLRJ�LUEID\�HmoL�EmRIOJ�\O�K?OLTNLEBm?EJT@e�DL@JH�LFE?BmFp�TLDFmKWGCC\@��HCI?Q?�DELFRGCC\�K?FJTF?RICJH� T@LQLCI� oLEIOmF}JCJ'� 4NBLF|CI?�� m� FGRJO?�eOBL�CDIO?�� RmEGBLEeBJp�}?� oeRL� o� EBJFOJ@� NL@+\ECJO?@� EmSQGB?�WCmS�K?omp�F�CLD�}G�CG@Lf'�:G�DEF?B\EI����@JDEMm�DR?FL�F5OBL�Cmp� o?� CG� @?|eEI'� <?CJ� @eD\EI� TFGRJWeFLEJ� F� DF?�SEF?BW?DEm��FmEWJTC\Ce�FmSCe�p�m�E?@e�DL@G�FmRICJ@�@JDEM\@�CLG@��BLMm��TLRJ�LfEID\�N?WGDCJS�?o?F+\T?O�TLN?FCJEJ�mDCeUWeNB?QLRJCe'�=J� FmBJ@?p�}?� MGS� K?FQ� DeNB?EJ�@?B\� NB?RJE?�OB?FJ� m� CGFJ@?FCJH� DEBL|KLCI� eOBL�CDIO?Q?� CLB?Ke� oeKGDNRLWGCJS'

L+�)��/�"#M

[��

86�*�8B@m\�6BLS?FL

oeR'�*�oeRLFCJS

oeCW'�*�oeCWe|CJS

FK'�*�FmKKmR

FJH'�*�FJH?FCJO

FmDE'�*�FmDEeC

<1�*�<?fCCL�1OBeQL�528

<12�*��<?SDO?�1HB?CJ�2?�BLCmWL��<mSDIO?�?H?B?CJ�O?BK?CmF�

<2�*� �<?SDO?�2?RIDOf�� �<mSDIO?2?RIDIOG�

FeR'�*�FeRJM\

Q'�*�Q?BL

QLT'�*�QLTGEL

b<a�*�b?R?FCJS�<mSDIO?FJS�aELo�528�

QGC'�*�QGCGBLR

b6�528�*b?R?FCG�6?@LCKeFLCC\528p�b?R?FCJS�6?@LCKJB�528

K'�*�KBeQ

KJF'�*�KJFJDI

KjB�*�K?OE?B

|eBC'�*�|eBCLR

TLDE'�*�TLDEeNCJO

TF+\T'�*�TF+\TO?FJS

P2�5b<7�*�PLO?BK?CCG�2BGKDELFjCJMEF?�5b<7

P5P�*�PLHmKCm�5OBL�CDIOm�PG@Rm

P5:7*PLHmKC?j5OBL�CDIOL� :LjB?KCL�7GDNeoRmOL

6X<�*� �6?BNeD� XGTNfWGCIDEFL<GFCGCE�CG�?�� �6?BNeD� <CeEjBm�CI?��XGTNGOJ�

6X2�*� �6?BNeD� XGTNfWGCIDEFL2eoRmWCG�?���6?BNeD�_GB|LFC?�XGTNGOJ�

62�*�6BLfFJS�2B?FmK�528

OBLS'�*�OBLS?FJS

�#$���������ZTU��" � ]�TRV "%�

OjB�*�O?@LCKJB

OeR'�*�OeRG@GECJO

OeB'�*�OeBmCCJS

Oe}'�*�Oe}?FJS

RLCO'�*�RLCO?FJS

RGSE'�*�RGSEGCLCE

@'�*�@mDE?

@LS'�*�@LS?B

=<_�*��=mCmDEfBDEF?� FCeEBfCCmHKfR�� �=mCmDEGBDEF?� FCeEBm�CmHDNBLF�

=�X�*� �=mCmDEfBDEF?� �?DeKLBjDEFfCC?S� ofT?NLDC?DEm�� �=mjCmDEGBDEF?�KGB|LFC?��oGTNGOJ�

=�jZ.�*�BmK� OeRG@GELp� Cm@GMIOJSDO?B?DEBmR

=1�*��=mRmMm\�1oJFLEGRIDOL���=mjRmMm\�27/�

@?o'�*�@?omRmTLMmSCJS

=2�*�BmK�ToB?�p�Cm@GMIOJS�LFE?@LE

CLKB'�*� CLKBLS?Cp� CLKBLS?C?FJS2B?FmKp�CLKBLS?C?FJS�NB?FmKCJO

CLB'�*�CLB?K|GCJS

:6<_�*� �:LB?KCJS� O?@mDLBmLEFCeEBfCCmH� KfR�� �:LB?KCJSO?@mDLBmLE�FCeEBm�CmH�DNBLF�

:4P�*��:LB?K?FG�4mRJ�PoB?SCG�

?'�*�?EGMI

?oR'�*�?oRLDEIp�?oRLDCJS

1<65��*�1BQLCmTLMm\�<J}JH�6R\D5OBL�CDIOJH� �m@CLTmS

?OB'�*�?OBe|CJS

11:�*�1BQLCmTLMm\�1o+fKCLCJH:LMmS

?BQ@?o�*?BQLCmTLMmSC?j@?omRmTLjMmSCJS� �EG|� FmSDIO?FJS�� BGj~GBGCE� NBJ� NmKNmRICmS� LK@mjCmDEBLMm�

[�q

17=1�*�1H?ECmWL�7GTGBFL�=mRmMm�1oJFLEGRIDOfS�p� N?RmMmSCm� FmKjKmRJ�T�@mDMGF?Q?�CLDGRGCC\�KR\K?N?@?QJ�TLR?QL@�=1

15:�*�1BQLCmTLMm\� 5OBL�CDIOJH:LMm?CLRmDEmF

NFK'�*�NmKFmKKmR

NFH'�*�N?RmEFJH?FCJO

2��*�2?RI?FL��LCKLB@GBm\

N?F'�*�N?FmE

N?RO'�*�N?RO?FCJO

22_�*�BmK�LFE?@LEJWC?��ToB?��d8

NN?RO'�*�NmKN?RO?FCJO

227�*� �2?RIDIOL�2LBEm\� 7?o?EjCmWL�

224�*�BmK�LFE?@LEJWC?��ToB?��d8

22a�*�BmK�LFE?@LEJWC?��ToB?��d8

NBJD'�*�NBJDmR?O

NB?F'�*�NB?FmKCJO

NB?N'�*�BG~GBGCE�NB?NL�LCKJ

B'*�BmOLp�BmO

BLS'�*�BLS?C?FJS

BG~'�*�BG~GBGCE

76=�*�BmK�ToB?�p�BeWCJS�OeRG@GE�<2

BjC�*�BLS?C

B?S'�*�B?S?FJS

B?TF'�*�B?TFmKCJO

D'�*�DGR?

DLC'�*�DLCmELB

4X�*�4Re|oL�XGTNGOJ��15:�

46<�*�4L@??o?B?CCm�Oe}?Fm�FmKjKmRJ

DR'�N'*DRLFC?��NL@+\Em

41�*�4eDNmRICL�1NmOL

D?E'p�D?EGC'*D?EGCCJS

416�*��4Re|oL�1HB?CJ�6?RfS?jFGS���4Re|oL�?H?B?CJ�TLRmTCJMm�

4747�*��4?UT�7LK\CDIOJH�4?MmLjRmDEJWCJH� 7GDNeoRmO�

4447�*��4?UT�4?FfEDIOJH�4?MmLjRmDEJWCJH� 7GDNeoRmO�

DE'�*�DE?BmCOL

DE'�oeR'�*�DELB�JS�oeRLFCJS

DE'�FmDE'�*�DELB�JS�FmDEeC

DE'�RGSE'�*�DELB�JS�RGSEGCLCE

DEB'�*�DEBmRGMI

45P�*�4HmKCm�5OBL�CDIOm�PG@Rm��CLDHmK�FmK�BmOJ�PoBeW�

0<�*�0LOEJWCJS�<mKEJC?O

E'TF'�*�ELO�TFLCJS

5X2�*��5|?CK�XGTNfWGCIDEFL�2eojRmWCG�?�� �5B\K�_GB|LFC?�� XGTjNGOJ�p�N?RmEJWCL�N?RmMm\�2:7

5<1�*�5OBL�CDIOL�<mSDIO?FL�1BQLjCmTLMm\

5b<7�*� 5OBL�CDIOL� b?R?FCL� <JjTF?RICL�7LKL

5:4�*�5OBL�CDIOL�:LB?KCL�4L@?j?o?B?CL

528�*� 5OBL�CDIOL� 2?FDELCDIOL8B@m\

528jPLHmK�*� 528� CL� TLHmKCJHeOBL�CDIOJH�TG@R\H

528j2mFKGCI�*�528�CL�NmFKGCCJHeOBL�CDIOJH�TG@R\H

528j2mFCmW�*�528�CL�<?RJCm

544_�*� 5OBL�CDIOL� 4L@?DEmSCL4?o?BCL�_GB|LFL

5�47�*� �5OBL�CDIOL� 4?FfEDIOL4?MmLRmDEJWCL� 7GDNeoRmOL�

5dA�*� 5OBL�CDIOJS� dGBF?CJSABGDE

~LB@'�*�~LB@LMGFE

H?B'�*�H?BeC|JS

d8�*�dGBF?CL�LB@m\

W?E'�*�W?E?FJS

[�.

86�*�KJF'�8B@m\�6BLS?FL8OE� FmKC?FRGCC\�5OBL�CDIO?��_GBj

|LFJ�*�qYp��w8OM�\��<mDRL��*qYp��np��Yk8RI?�JCp�o?RI�GFJMIOJS�RGSE'�*

�kw8@GBJOL�*� wwp .nqp .wwp ��Yp �q[p

Zq�p��Z.qp Zk�8CQRm\�*�.wwp Zq��8CKGB�BLFCK�p�N�fDL�LFE?BL�7'�/Lj

NmOL��*�Zkk�8CKBmS�p�DEB'��*�q�.�8CKBmS��mT�D'�/'�*�wk�8CKBmS�p�BG~'�4X�*�ZwZ8CKBeD\O�<LDJRI���7mTeC�p��bBGQmE��p

OjB�..�0<�528�*�..[p ..Yp ..k8CKBe�O?FMmp�D'�CL�/G@OmF}JCm�*

.kY�8CEGO�p� TCGFL|RJFL� CLTFL� N?RIj

DIOJH�o?�FOLBmF��*�.w�p�.kZ�8BGEL��*�KJF'�2GRJNWLO�>FLCOL�8Bm\KCL�p� KmFWJCLjN?FDELCGMI�*

.[Y�8BOLKmS��*�KJF'�6BJFeMIOJS�>FLC��8B@m\�6BLS?FL��86��*�qn�p qn.p�.[�p

.k.p ��wp Z.q�8BNLK�p� DLC'p� BLS'� BG~'� ?H?B?CJ

TK?B?F�\��*�Ywp�q�Zp�qwqp�.[�p�.wqp�q�

XLoJCLp�D'�*��[qXLQC?p�RmD�omR\�D'�4EBmRIoJWm�*�.q[XLKI?FLp�RmD�e�4EBmROmFDIO?@e�BjCm

*��[Zp �[Yp �kwp Z�ZXLTLBp�@'�*��Y�XLTLB�=LBm\p�DGR\COL�mT�D'�2?R?CCL

*�.n��XLSKL�p�D?EGC'�*�..qp ..[p�ZY��XLSKL�p�W?E'�*�q�n�XLSKLO�p�Oe}'�*��k��XLSKLO�p�DE'�FmDE'�FK'��XLDGSC��*��[�p

�Y[p �YYp� �nnp �wqp� �wwp Z�[�*Zq�p ZqZp Zqkp �Z..p �Z.�p�Z.np�Z.kpZZ�p Z[[p�Z[kp ZY.p ZwY

�XLSBLO�p�W?E'�D?ECm�OjBL��4ELHL��*qwYp qwnp .k�p .kYp ��qp ��.p��[p �q[p ��qp ��Zp �Z�p �Ynp��kk

XLRJQ?B?Kp�@'�/mDIO?Q?�N?F'��*�.�p.w�p�.wqp ��Yp �qZp �qwp �.kp ���p��Yp��Zqp �Z.p �Z[p ZYnp��ZYw

XLROLCJ��*��.wp ZYZ�XLRIOL�p�B?S'�W?EJ��ABmCL��*�q�.XLRICJM\p� D'�/mDIO?Q?�N?F'�*�.wwp

.wkp�.kwp �.np �.wp ��qp ��.XLCKB?FGp�D'�CL�/G@OmF}JCm�*�Y.p

.wwp�.kZp �[np �[k�XLCKeBL��T�D'�:?F?DGRJMm�6?TJMIOm

*�Y�XLCOLp�NBJDmR?O�D'�6LRICJM\�*�.wqp

.w.XLC\p�NBJDmR?O�D'�dL�JC�*�.k�XLBFmCDIOJS�1'p�KjB��*�Zn��XLB?C�p�D?EGC'��*�.[q�XLBEGRI�p�W?E'�*�KJF'�XmRI?�_@JEB?XLDLBLom\�*�Y��XLDGSC�p�FK'�528�*��[�p �wqp Zqq�XLDGSC�p�D?EC\�528��*�..p ZZp��kw�XLDE�?C�p�0<�528�*�qqp����XLELRIS?C�DI@GBMm�p�N?RIDIOL�o?�Fj

OLBDIOL� DNGMQBeNL�*� .nkp� .wwp.k[

XLW?FDIOJS�<?R?KJ@JB� ��0?N?R\��pFmDE'�*�qw[p�.Z�

X'�<LDJRI���1RGODL�X?DJS��p��OmRIjCJS�E?FLBJ��OjBL��ABmCL��*�Yn

XGKB�S�8CLE?RmS��*�q�p��ZXGRGSR?FJW�>FLC���_TFmCWeO��p�D?EGC'p

OjB�[�<1�528�*�..[XGBGQJp�D'�/mDIO?Q?�N?F'�*��.Y�XGBGQ?FJS�p�o?S?FJO�*�ZwZXGBG|LCJp�@'�CL�0GBC?NmRI}JCm��*

.ZYXGBG|LC}JCL�*�qYw

#�� {Z$�

[��

XGBG|CJM\p�D'�CL�/G@OmF}JCm��*�ZZYXGBGTmFDIOJS�RmD�*�.nYXGBGTL�6LBEeTIOLp�O?CMELomB�*�qZp

�[p�.�.p�..[p�.YZp Zqqp ZZnp Z[n�XGBGTL�p�B?S'�DE'�FmDE'�*��YYXGBGTOLp�D'�_?oB?@JRIDIO?Q?�N?F'�*

q�kp .��p .�kp�.[np .[kp �.Y�p .Y.p.kqp ��[p ��Yp �k[p ZZY

XGBGT?FGMIp�D'�4\CmMIO?Q?�N?F'�*�.�p.nYp .nnp .k�p ��Y

�XGBGDEjP?TeR\�p�OeR'�*�.ww�XGBGEL�p�DE'�FmDE'�*�ZwZ�XGBOeE�p� OjB� *� KJF'� 4?B?WLO

<?R?KJ@JB�XGBOeE�p�BLS'�BG~'�4X�*��ZYXGBRmCp�@'�*�n�p�Z�[�XGDOmK�p�DEB'�*��kZXGDOJKp�QmBDIOJS�@LDJF�*�.��p�.[Zp

.Ywp .Ykp .wYp�.wkp .k�p� .kqp��.kkp��qp ��[p��qZp �q[p �..p��.Yp �.np��qp���Yp ��kp �kZp��ZZZp ZZY

�XGDOJK�p�FmDE'�*���w�XGDOJK�p�TF�\TO'�*�.kn�XGDOJK�p�:LKBLS?C�*�qqp qkp .kp���p

Z�p�[q�XJSjPLoJS�p�DEB'�*��[�XJRJWp�D'�CL�4L@omB}JCm�*�qqp����XJDEBL�p�NmKNmRICJM\��*�qnn�XJDEBJS����p�DEB'�mT�D'�=LR\FL�*�q[kp

qYnp�qw[p�.Zkp�.wk�XJDEBJS�p�Oe}'�*�.�.�XJDEBJS�p�B?S'�*��kn�XJDEBJS�p�DEB'�*��[��XJDEBJS�p�DEB'�mT�D'�/m}LFL�b?Bm�C\

*��qqZp qqkp q.�p�q.Y�XJDEBJS�p�DEB'�mT�D'�/m}LFL�_?Rm�C\

*� qZ�p qZZp qZ[p q[�p qYYp� qYwpqkwp�.Z�p��.Zqp�.ZYp�.[.p �YZp�Z[w

�XJDEBJM\�p�OeR'p�FmDE'��*���wXJDEBJM\p� D'�0eBOmFDIO?Q?�BjCe�*

..n�Xmo�p�FmDE'�D?ECm�OjBL��X?BL��*��ZkXmoBOLp�@'�CL�/IFmF}JCm�*�qkk�XmTeC�p�F'?'�BLS'�NB?F'�*��qn

�XmRJS�p�FmDE'�*��Zk�XmRJS�p�W?E'��*�qnkXmRJCDIOm�oLQCL�*�.���XmROL�p�DELC'�*�q�ZXmR?FeDp�CLWLRICJO�=<_�F�@'�4O?j

RG�*��nwXmRI?�_@JEB?���XLBEGRI��p�W?E'�*�qnZXmR\CDIOJSp�DGR\CJC�T�D'�/'��*�qqq�XmB�p� OjB�*� KJF'�aJ�OLCJCGMI

<LDJRIXmBWLp� D'�_?oB?@JRIDIO?Q?�N?F'�*

q[.p qY.p qYkp qn.p�qn�p�qw[p�qkqp.�.p� .�Yp .�np .�wp .Z�p .Z.p.Z�p .Znp�.[�p .[qp Zkn

XmBWLCDIOJS�BjC��*�YqXmBWLC}JCL�*�qY[p qYnp qw[p�qk�p qkZp

qknp .��p��.ZZp�.Zkp��.[Zp���[p��q.p��ZY�XmD�p� OjB� ?H?B?CC?Q?� FK'�*� q[�p

qn[p qnYp�qwnp .ZZp�.[�X�R?Q?B}Lp�@'�*�ZkZX�BWLC}JCL��*�qZp��Yp�qk�XRL|mFDIOJS�RmD�*��[k�XRLOJECJS�p�DLC'��*��kY�XReK�p�DEB'�*��qZ�X?QKLC�p�FmDE'�Tm�D'�XBJ|LFL��*�qZ[p

q[.p���.qYp��.Z�p .Z��X?QKLC�p�OjB�*��.Y�X?QKLC�p�Oe}'�*��[Y�X?QKLC�p�DE'�FmDE'�*��Y.�X?QKLCL��*�KJF'�bLSKeOGFJW�1RGOj

DLCKBL��X?Q?FDIOLp�N?RIOLp�FWJEGRIOL�*�qqqX?SOmF}JCL�*��[p�Z[[�X?SO?�p�o?S?FJO�*�q[�p .wk�X?SO?�p�NB?F'�*��[Zp �k[�X?SO?�p�H?B'�*�ZwZ�X?S?FJW?O�p�DEB'�*�.Yq�X?S?FWJO�p�DEB'�mT�D'�2eRLFJ�*��.�X?SMeC�2GEB?���b?Reo��p�DELC'�*�.w��X?ODGB�p� oeCW'� N?B'�*�KJF'�A?@L

V?DJ~�X?R?ECJOp�D'�CL�/G@OmF}JCm�*�ZZZX?R?HmFp�D'�CL�>FLC?j�BLCOmF}JCm��*

q.p��Z

[�Z

X?CLBmFOLp�D'�omR\�4EBJ|GFL�*�.�wX?CKLBmFOLp�D'�*�Y�X?BmFCJMIOm�RmDJ��*�qnZp�qnYX?BmFCJM\p�D'�F�XmBWLC}JCm�*�qwp�Z�p

qY.p�qY�p qYZp qY[p qYnp qn�p qnYpqk�p��.�Yp .�np .ZZp .Znp .Zwp .Zk

X?BGMI��BmS���de@LO��p�B?S'�*�kkpq[�p��qw[p .wk

�X?BJD�p�BLS'�NB?F'�CL�/G@OmF}JCm*�qZqp�qwkp���[p��.Yp�Zq.p Zq�p�Z[YpZw�

�X?BJDj<JKBL�p� NB?F'� :LKB'� �A?jR?KCJS�`B��*�.�[p .�n

X?BJDGCO?p�o?RI�GFJMIOJS�N?RO'�*Zn�

X?BJDRLFp�@'�*��nk�X?BJDEGC�p�|eBC'�*�qZ�X?B}��*�KJF'�4EGoGRIDIOJS�4EGj

NLC��X?DIO?p�D'��*�.kZX?HmFOLp�D'�*�.ww�X?\C�p�oeCW'�*�...XBLC\�*�nqXBJQmKOJp�EUB@L�e�/IF?Fm�*�..[XBJ|mFDIOGp�D'�*�qkYXBJ|mFDIOJS�RmD��*�qnZXBJ|LFLp�D'�_?oB?@JRIDIO?Q?�N?F'

*�q[kp�qYYp .�np�.Z�p .ZZp�.Zwp�.wkXBJE�SDIOL�6?Re@o�\��*�q.p��ZXBC?p�@'�F�dGH?DR?FLWWJCm�*�.wp�[�XB?KJp�@'�CL�/IFmF}JCm�*�Y.p Y�p�ZY��XB?KJW�p�OjB�*�KJF'�bB?oGRIDIOJS

7?@LC��XB\CDIOJS�mT�D'�/\HLFL�*�Y[XeTIOmFp�D'�*�..nXeTUOp�?'�KGOLC�T�D'�7LSDIOG�*��.Z�XeSj0eB�p�DEB'�*�.Yq�XeSCJS�p�FmDE'p�DEB'�FK'��XLDGSC��*

�[�p��Y[p��YYp �nnp �wqp Z�w�*�Zq�pZqkp�Z..p Z.�p Z��p ZZ�p Z[kp�ZY.pZY�p�ZYYp ZYnp Zn.p�Zn�p�ZwZp�ZwY

XeOp�D'�/mDIO?Q?�N?F'�*��.Yp ���p��Z�p�Zn

�XeO�p�W?E'p�eWJEGRI�mT�45P�*�q[w

XeOmFDIO?p�D'�CL�/G@OmF}JCm�*�.�pZqp�.[Zp �.Ynp��.n�p��.w�p .wqp�.kwp�q[p �Zkp�Z.q

�XeOFL�p�DEB'�*��nnXeO?FG�XGKB?p�Q'�F�/mDIO?@e�N?F'�*

Z�[XeO?FGMIp�D'�CLK�B'�4\C��*�.Y.�XeO?FJS�p� OjB� ?H?B?CC?Q?� FK'�*

.Y.XeO?FJCL�*�qY[p ��[XeO?FJCLp�NBJDmR?O�D'�XBJ|LFL��*

.wk�XeO?FJCGMI�p�NB?N'��*��[kXeO?FJM\p�RmD��*.n.p .k�p�ZnY�XeRLFL�p�k.�D?EC\�528�*�kp�q�p��qp

.�kp�.qkp ..��*�..[p .�qp .�[p��[.p�Yw

�XeRLFL�p�FK'�528��*�Zqq�XeRIoL�p�DLC'�*�KJF'��bBm@����XeBGFmS�p�oeCW'�*��Zkp Z�w�XeBJS�p�D?EGC'�*�qnwp qnkp .[q�XeBJS�p�DEB'�*��Y�p �nk�XeBRLOL��*� KJF'��JQGRIDIOJS

<?R?KJ@JB��XeB@LOp�QGC'�RGSE'�=�X�*�.qp�Z.

<LCOeFGBp�@'�F�6LCLKm�*�q.p��Z�<LCEOL�p�DE'�FmDE'�*��Y��<LCIOL�p�F?\O�mT�45P�*�q�[p qqn�<LCIOL�p� B?S'p� DE'� FmDE'� NFK'� OjBL

�0LBLDOL��*��[�p��kwp�Z�w�<LCIOL�p�DEB'��*��Z[�<LCIOL�p�W?E'�*�qnZ<LCIO?FLp�D'�/mDIO?Q?�N?F'�*�qkk<LB�LFLp�@'�*�qqp�q.p���p��Zp��..�<GK@mKI�p�DEB'�*�qkw<GRJOKGCI� �<GRJO?KCm� DF\EL��*q[�p

qY�p qYqp�.qkp�.[[�*�.[wp�.Y.p �kZp�Z�[<GRJO?oBJELCm\�*�ZY[<GRJO?N?RGp�D'�CL�/G@OmF}JCm�*�.[Yp

.n[p .kqp .kkp �qw<GRIOm�XeO?FGM��<GRJOJS�XeO?FGMI�p

QmBDIOJS�HBGoGE�*���n

[�[

<GBCJ�FOLp�D'�CL�/G@OmF}JCm�*�.nqp.wqp .w[p .wY

�<GBCJQ?BL�p�NFH'�6<�*��ZZp �Zw�<GBH?FJCL�p�:LKBLS?C�*�qwp��k�<GBH?FJCGMI�p�Q?DN'�*�.nwp �[k�<GBH?FJCGMI�p�B?S'�*�qnk�<GDGRJS�p�FmDE'�*��Y.<GERJCLp�D'�/mDIO?Q?�N?F'�*��.�p��.Yp

��Yp ��k<GERJCDIOL�=L�eBLp� Q'� CL�/G@OmFj

}JCm�*��ZZ<GERJCDIOL�N?R?CJCLp�Q'�CL�/G@OmFj

}JCm�*��.Yp��.np�ZZY�<JFmBOL�p�DEB'�*��..<JQ?KLp�D'�*�q.p��Z<JKLFCJWJS��?CK�m@'�X?QKLCL�4EGj

oGRIDIO?Q?�*�[p�.w<J|OLp�D'�*�..n�<JBFL�p�B?S'p�DE'�FmDE'�B?\��6FmEJ�

*� .[kp� .nYp .k�p .k[p ��Zp ��wp�qYp��nYp �nnp Zq.p Zw�p�ZwZ

<JDRmO�b?Bm�CmSp�D'�4\CmMIO?Q?�N?F'*��.wYp �qZp �q[

<JDRmO�_?Rm�CmSp�D'�4\CmMIO?Q?�N?F'*��.wYp �q[

<JDRmOp�D'�4\CmMIO?Q?�N?F'�*�.�p .Ykp.n.p .n�p .nkp .w�p .wqp �.w[p .wYp.wwp .wkp .k�p �.q

<JD?WLCJp� D'� CL� /G@OmF}JCm�*.�p Z.p�.[[p .Y�p �kwp�ZZZ

�<JH?B�p�FmDE'p�DEB'�FK'��XLDGSC��*�[�p���nnp �wZp��wwp��kZp�Z�Yp�Z�wpZ�kp�Zq[p Z.�p Z.Zp Z��p�Z�Yp�ZZ�pZ[[p���Z[kp �ZY.p ZY�p ZY[p ZYYp�ZYkpZw�p��ZwY

<JMmFp�D'�*��[qp �ww<J�CmFp�D'�CL�2?KmRRm�*�q.p��Z�<mQ?B�p�Oe}'�*��.[p �.Y�<mS�p�BG~'�Q?DN'�*�.n�p�.wq�<mS�p�DEB'�*��[�<mSDIO?�2?RIDIOG��<2��*�.�p Zqp�Z.p

.Z.p�.ZYp��.[.p .[Yp��.[np �.Y.p� .YYp

.nqp�.n.p��.n[�*�.nnp .wqp .kqp��kZpZ��p�Z.�p��ZZZp ZYw

<mRIOLp�NBJDmR?O�D'�<?RJM\��*�.kq�<mRICJS�p�oeR'�NFK'�OjBL��0LBLDOL�

*��[�<mRIHLp�D'�CL�/G@OmF}JCm�*�.w.<mRIH?FLp�D'�CL�/G@OmF}JCm�*���Z<mRI�LCJp�D'�2GBG@JDIO?Q?�N?F'�*

qwZ<mRI�LCJOp�D'�4L@omBDIO?Q?�N?F'�*

..�<mRI�LCJM\p�D'�*�.[.<mCCJM\p�@'�F�5OBL�Cm�*�Y��<mDO�p�DEB'�*�.Yq�<mEGB�p�N?B'��/G@OmFDIO?��D?ECm�k[L

*�.[Yp .[kp .Yqp�.Y�p .YZp .Ynp�.Ywp.n[p�.nYp .w�p .wZp��Zwp�ZZ�p Z[wp�ZnY

<mE?FDIOJS�_@JEB?p�N?RO'�*�q�p��[<mE?FDIOJS�`B?DRLF�_@JEB?� ��P@mj

UOL�p��8CKBmfCO?��p�N?B'�OjB�.Z0<�528�*�.�qp .�.p .��

�<mEB?Q?C�p�DEB'�W?EJ��ABmCL��*�q��pq�[p�q.kp q�.

�<m~RGf@�p� D'�*�KJF'� PLFLKOL�=?jB?HmFDIOL

�<m~RGf@�p�D'�*�KJF'�:LCWmFOL�=LRL�<R?KO?�p�DEB'�*��Z.<CeEB��C��<�SDIOL�=�X�*�.�p�Z.�<?FO�p�FmDE'p�DEB'��*�.[.p��YYp�Zw��<?FWeB�p�DEB'�*�..�p .���<?Q?CI�p�DEB'�D?ECm�OjBL��A?@J��*

q�qp�q�.�<?Q?CI�p�FmDE'�*��Y.<?K?HBJ}L�*�ZYnp ZYk�<?K\CJO�p�FmDE'�*���[<?SDO?�1HB?CJ�2?�BLCmWL��<12��*

.wYp �q[p ZZ�<?SEO?FLp�D'�_?oB?@JRIDIO?Q?�N?F'

*��q[kp qYkp .Z.p .Znp .[��<?RJCGMI�p�DE'�FmDE'p�B?S'�*�.[kp .n[p

.nYp ��Y<?RJCI�*�qn[p .qw<?RJM\p�D'�CL�/G@OmF}JCm�*�.�p Zqp

.n�p�.w[p .wwp .kqp Z.q<?RO?FJ\� �<?FO?FJ\�p� D'� /mDIO?Q?

N?F'�*�.�p��Z.p�.��p .Yqp .YYp ��Y

[�Y

<?R?K|p� D'� XGBGTmFDIO?Q?� N?F'�*qn�p�qwZp qk�p .�n

�<?R?D�p�DEB'�*��qY<?R?�JC?FLp�D'�4ELB?DL@omBDIO?Q?

BjCe��*��Y[p �YY<?R?}Lp�D'�4L@omBDIO?Q?�N?F'�*�q.p

�Z<?R\� XRL|mFDIOLp� D'� 4L@omBDIO?Q?

N?F'�*�..�p ..q<?R\�XBJ|mFDIOLp�D'�*�qkw<?R\�<J|C\p�D'�CL�/G@OmF}JCm�*�.nq<?R\�b?B\CDIOLp�D'�/mDIO?Q?�N?F'��*

��[p��Z��<?R\�6BGMmFDIOLp�D'�4\CmMIO?Q?�N?F'

*��qn�p qkw<?R\�=LEm\�?FLp�D'�/mDIO?Q?�N?F'�*

.[np�.[wp�.kqp���[p ZZY<?R\�=LMIO?FLp�D'�*�.�[<?R\�=mH?FLp�D'�CL�/G@OmF}JCm�*

.�p� Z.p� .qnp .wkp� .k[p� .kwp �q�p�q[p �.wp����[

<?R\�2GEB?FLp�D'�CL�/G@OmF}JCm�*.�p Z.p�.n�p .k�p .knp �qYp �.�

<?R\�2?DE?R?FLp�D'�CL�/G@OmF}JCm*���.q

<?R\p�NBJDmR?O�D'�XBJ|LFL��*�qYYp�qnZ<?R\p�NBJDmR?O�D'�/\HLFL�*�.Z[<?R\p�D'�CL�/G@OmF}JCm��*��k[<?R\�4GCIO?FLp�D'�CL�/G@OmF}JCm�*

.nqp .wk�<?R\�p�D?E'�*�.[qp ��np �ZY<12�*� KJF'� <?SDO?�1HB?CJ�2?j

�BLCmWL��<?B?oGRI�p�DEB'�*��k��<?B?oGMI�p�DGOBGELB�4X�*�qwn�<?B?C�p� OjB� *� KJF'� 4?B?WLO

<?R?KJ@JB�<?B?C�p�Q?DN'�*��Z��<?B?C�p�B?S'�T�D'�/m@CL��*�qq.p q.[�<?B?C�p�DE'�*�Z�w�<?B?C�p�W?E'�*��Ynp��k�<2��*�KJF'�<mSDIO?�2?RIDIOG<DGDFmEC\��GKGBLMm\�2B?~DNmR?O�*

Z�n

�<eSO?�p�OeHLB�*�qw�p�qwq�<eSO?�p� DGR\CJC� T� D'�6?@LCWL�*

�.��<eDLRI�p�DGR\CJC�*�wZ�<+UC�p�B?S'�*�.wZ�<+UC�p�DEB'�*�.Yq

bmERGB��8K?RI~�*�Y�bmWFJMmp�D'�CL�/G@OmF}JCm�*�.�p�.Ynp

.wkp �ZkbLoeBLp�D'�e�4R?FLWWJCm�*�.kq�bLfFJS�p�DE'�FmDE'�*�Z�kp Zwn�bLK�p�W?E'p�B?K?@��mT�2?OeEE\�*�nqp

n�p n[p �nnp nkp wZp qqqp�qqZp�qqwpqqkp q.[

�bLSKL@LOL�p�W?E'�*��kkbLSKeOp�N?R\O��*�qqqbLSKeOGFJWp�?'�*�qnp��kbLSKeOGFJW�1RGODLCKBL����X?QKLCL�p

�PGCL��p�~LB@'�5dA��*�q[p�qnp�qwp�np� �kp� Ynp nqp nZp n[p wYp wwpq�Yp q�np�qZqp qZ.p qZkp�qYnp�qnqpqw�p qw.p�qwZp qwYp qwwp�qk.p�qkn�*qkkp��.Zkp�.[�p��.[.p Z��p Z�Z

bLSCm�OLp�DGR\COL�T�D'�6LRICJM\��*.w.

�bLS?FJS�p�DE'�FmDE'p�B?S'�*�qnkp�.q�p.�.p �YY

bLRLDL�<LDJRI���1BRLC�p��XmD��p�WRGC62��*�qww�*�qk�p�.Y�p �nn

bLRJMIOL�KJFmTm\�*�..Y�bLRJW�p�DLC'�*�.wY�bLRJW�p�DEB'�*���wbLRJWJCL��*�q.p q.[�bLRJWJCL�p�KJFmTm\�*�Y.p ZY�bLRmFOLp� D'� 4EBmROmFDIO?Q?� BjCe�*

�YY�bLR\�p�KBe|JCL��bBeo?Q?��*�Z�Z�bLR\�p�B?TFmKCJM\�OjBL��d?BC?Q?��*

q�Yp�qq[bLRI?�=JHLSR?� ��6?CJO��p� OjB�*

qwp Z�p�qYq�*�qYnp�qnqp .Zwp�.[qbLCCeD\��bLC\�p�DGR\COL�*�q.wp q.k

[�n

�bLCCeD\�p�NmKNmRICJM\��*�Z��bLCCeD\p�DGR\COL�T�D'�6eTI@JCL�*

qYq�bLCeR\O�p�BG~'�4X�*��wkp�ZY�p�Zw�p

ZwZbLC\p� DGR\COL� T� D'� XBJ|LFL�*

.�np .�wbLC\O�^FQGC�*�ZkqbLC\O� /mKLp� K?CIOL� 7?@LCL� 4EGj

oGRIDIO?Q?�*�ZkqbLBLoLW�<LDJRI���1BLW��p�BLS'�BG~'

4X�*�qwnp�.Z�b<a��*�KJF'�b?R?FCJS�<mSDIO?FJS

aELo�528bReo?Op�D'�CL�/G@OmF}JCm�*�.nqbReKC?p�D'�CL�/G@OmF}JCm�*�kp��qp

.�wp�.�kp .�[p��YwbRe@WLp�D'�*�.�kp .ZYbCLEO?�>FLCp�DEBmRGMI�D?ECm��ABmCL�

*��qYp��n�b?FGBR\�p�<1�528�*�.qp ..p .np�Z�p

Zk�b?FGBR\�p�BLS'�*�Zw�b?RJCIp�D'�6LReDIO?Q?�BjCe�*�q.p �Zp

[Zb?R?FGMIOGp�D'�4RLFDIO?Q?�BjCe�*��wwb?R?FCG�6?@LCKeFLCC\�528�*��n[b?R?FCJS� <mSDIO?FJS�aELo� 528

�b<a�528�*�.Yp .wp �nwp �wq�b?R?DCJS�p�FmDE'�*�ZwZ�b?R?DCJS�p�DLC'�*��YY�b?Reo��*�KJF'�X?SMeC�2GEB?���b?Reo�p�oeCW'�*�q�n�b?Reo�p�FmDE'p�DEB'�*��YY�b?Reo�p�DEB'�*�.n�b?ReWOmFp�D'�4\CmMIO?Q?�N?F'�*�qwZ�b?@mC�5OBL�CJ�p�FJKLFCJMEF?��*q�p

���b?CE?FJW�p�B?S'�D?ECm��XeRLFL��*

.qkp�.��b?Bm�CmS�RmD�*��YY�b?Bo?FJS�p�W?E'�D?ECm�OjBL��XeB?Q?�

*��qnw

�b?Bo?O�p�FmDE'�*��Zk�b?BKJS�p�DEB'�*�qZ�p�qY��b?BKJS�p�o?S?FJO�*��[��b?BKJS�p�DEB'�T�D'�ALReNOJ�*�.�n�b?BKJS�p�DEB'�T�D'�`FmBCJO�7eDIOJS

*��.�nb?BKJC\p�D'�*�Z���b?BKmS�p�DEB'��*�qkwb?BJO?FL� `@Lp� RmD?O� F� 4EBmROmFj

DIO?@e�BjCm�*��[�b?BR\ELp�Q'�CL�/G@OmF}JCm�*���[�b?B?oO?�p� NB?F'� CL�AJBmF}JCm�*

�[wp��knp�ZwZb?B?FJWmp�D'�*�qn�b?B?KGWWJCL�*�qnwb?B?H?FJM\p�D'�*�qwZb?BDIOJSp�LFE?B�OCJ|OJ��A?R?KCJS

`B��*�.�k�b?BDIOJS�p�o?S?FJO�*�ZwZ�b?BDIOJS�p�BLS'�Q?DN'�*��YYb?WLOJp�DGR\CJ�T�D'�XGBGTOL�*�.kq�bBLo�p� Oe}'� 46<�*� KJF'� 0?FLBj

CJMIOJS�=JHLSR?�bBLCmE�p�FmDE'�*��Y.�bBLCmE�p�DEB'�*��kZ�bBLCI�p�W?E'p�HGBD?CGMI�*�Zqp�.Y�p

.YZp�.n[�*�.nnp .w�p�.wYp�.k�p�.kZ*.kYp��.kwp ��qp���.p���Yp���np���qZp�q[p��qnp �qwp����p��k�

�bBJQ?B�p� ?OB'� NB?F'�*� KJF'� beO=JB?DRLF

�bBJCI�p�OjB�*�KJF'�4EGoGRIDIOJS4EGNLC

bBJMLS�_@JEB?���2GBGoJSCmD�p��bBJjMLSj2GBGoJSCmD��p�QGC'p���G~�b<a528��*�qkp�Zqp�..[p ..Yp ..wp���qpZqq

bBJMIp�DGR\CJC�*�qZqp qZ.p qZnbBJMIp�DGR\CJC�T�NBJDmROL�7?NL��*

.ZqbBJMIp�DGR\CJC�T�D'�XBJ|mFDIOG�*�qkYbBJMIp�DGR\CJC�T�D'�6eTI@JCL�*�qYq�bBm@�p�DEB'�*�.Zkp���Y[p Zwn

[�w

�bBm@�p� OjB� *� KJF'� 0FGBK?HRmo=JO?RL��

�bBm@�p� O?@'�2�p� DE'� FmDE'�*� .[kp.Y[p .Ywp .n[p .w[p ��wp�ZnY

�bBm@�� ��XeRIoL��p� DLC'� CL�/G@OmFj}JCm�*�qnwp qnk

�bBmCWGCO?�p�NB?F'�CL�/G@OmF}JCm�*.[w

bBGMm\�*�ZYZbB?oGRIDIOJS� 7?@LC� ��XB?KJW��p

D?EGC'�.Y�0<�528�*�.Zp�ZYp�.nwp.w�p�.wZp �.wp�Znk

�bB?TL�p�DEB'�*�..YbB?TI?FLp�D'�4EBmROmFDIO?Q?�BjCe�*

qq[p q.�p qn�p .�[p .Z.p �[qbB?@LKDIOJS�RmD�*�.�[�bB?@GCO?��*�KJF'�_eKL�=JHLSR?��bBeoG�mFp�@'�F�A?R@}JCm�*�Zkn�bBeoJS�p�DEB'�T�D'�<?R\�2GEB?FL�*

�.�p�Z�Z�bBeTJC�p� OjB� D?ECm� m@'� X'� A@GRIj

CJMIO?Q?�*��Ynp�Z���bBeCI�p�FmDE'p�DEB'�*��qYp���ZbBe�mFOLp�D'�XGBGTmFDIO?Q?�N?F'�*

qn�p qk�p�.�Y�bBe�OL�p�FmDE'�*��Zk�bBe�OL�p�FJH'�FK'��XeRLFL��*��k[p

�kY�bBe�OL�p�Oe}'�Q?DN'�*��ZYbBe�OLp�RmD�*�.kqbBe�OLp�D'�CL�/G@OmF}JCm�*�.[Yp�.kq�bBe�OL�p�DEB'�*�.wZbeO�X?QKLC���4OLRL��p�DLC'�CLKB'�5dA

*�qnp�qnqp�qw�p�qk.p�qkYbeO�=JB?DRLF���bBJQ?B��p�?OB'�NB?F'

*�qwwp�qk�p�.wqbeDCGp�D'�0eBOmFDIO?Q?�N?F'�*��k[�beMeR�p� FmDE'� D?ECm� OjBL� �6LB@Gj

RUOL��*��[��beMeR�p�OjB�o?�FOJ�*�.wn�beMeR�p�BG~'�4X�*�qwnp�qkwp .nYp�.nwp

��kp �q.p �q�p Z.�beWLFLp�D'�*�qnk

��LTKLj1BLW�p� Q?DN'� BG~'p� NmTCm�GBG~'�4X�*q[[p q[Yp qwYp�qwnp qk�

�LSEJDOLp�NBJDmR?O�D'�̀ FmBCJO�*�.k��GBQLBE�`Cp�N?RO'�<2�*�.w.�GDELN?��*�qYp qqqp .qnp�.qkp �w�p�Zqq�T?M�>FLC���=eHL��p�DEB'�*�q��p q.�p

q.qp q.�p q.Yp q.kp .Znp .knp Z�Z�?R\��4EGNLC���=LB��p��CLKB'�NB?F'

*�qqp qwp .kp ��p�Zqp�[qp�.Y�p�.YYp.wwp ��ZYp �Zn

��?CELj1DELN�p�NFH'�*�q�np qq���BLCLEL�p�FmDE'p�DEB'�*�.q�p �YY�BLCKmp�mELRmfMIp�DEB'��D?ECm��XeRLFL�

*��.�qp .�.p .���eKTJO�<LDJRI� ��1BmH��p� B?S'p� W?E'p

H?B'p� D?EGC'�*� qqp .wp� ��p� [�p.Y�p .Y.p� .n[p� .wqp� .k�p � .kYp.kwp ��qp���.p���qp ��np �kZ

�_LCJR�F�p�0<�528�*�qqp����_LCJR?�p�Oe}'�*�ZwZ_LBmFp�D'�CL�/G@OmF}JCm�*�.nqp .wk�_LBOLjaNJELRI�p� o?RI�GFJMIOL

LQGCEOL�*�Z�Z_GR\Q?FLp� D'�XGBGTmFDIO?Q?�N?F'�*

qY.p qY�_G@omMIOJS��BO?p� K?C?}JO� mT

D'�6eR\�CG��*��q.�_G@?�� ��_G@��p� DEB'p� NJDLB� D?ECm

OjBL��A?@J�p�B?K?@�Tm�D'�XBJ|LFL*��q�qp�qZ�p qZZp qZ[p�.Z�p�.Zq

�_G@?C�p�DEB'�*�q�np�.Yq�_G@?C�p�B?S'p�DE'�FmDE'��*��Z�p �ZZp

�Zkp���Yqp��w._GBOLWp�KJBGOE?B��O?RJ�F�D'�/eO?FG

*����w�_TFmCWeO��*�KJF'�XGRGSR?FJW�>FLC�_TF?CJ�2mKQmB+\�p�QLT'�F�6LRe�m��*

q�p��Z_TUBKT�Fp�D'�/mDIO?Q?�N?F'�*�.�p�Z._JCmFp�@'� XGBGTmFDIO?Q?� N?F'�*�kp

�qp�q�kp�.�wp ��qp��Yw�_mKJO�p�D?E'p�DE'�oeR'�*�.Zp�ZYp�.[Zp

[�k

.n�p�.k�p ��.Yp ��.wp ��kkp �Zn[pZnYp Znk

_CmDEGBp�B'�*��wqp �kYp Z[n_?oBLp�D'�̀ B?DRLFDIO?Q?�N?F'��*qYwp

qYkp qn�p qkwp .�Yp .Zqp .ZYp �YZ_?oBL�aR\HGEDIOLp� D'� 4\CmMIO?Q?

N?F'�*�qwp Z�p�qYw_?oB?@JRIp� @'� CL�/IFmF}JCm�*qYp

�wp�q.[p�q.n_?oB?@JRIDIOL�EUB@L�*�q[p��Y_?oB?@JRI}JCL�*�qn[p qw�_?oB\COLp�NBJDmR?O�D'�_?oBL�*qYwp

.ZY_?oB\COLp�D'�2GBG@JDIO?Q?�N?F'�*

qw[p qk[p qkYp �[Y_?oB\CDIOJSp�?'p�DF\}GCJO�Tm�D'�6eTIj

@JCL�*�qq�p qqqp qZ.�_?Foe����*�qZ.�_?Foe��p�ToB?S?FJS�*�..Z�_?Foe��p� B?S'� DE'� FmDE'� NFK'� OjBL

�0LBLDOL���*��[�p��Yqp �Y.p �w.p��kn�_?FQJS�p�DEB'�D?ECm�k[L�*��k��_?FQJS�p�W?E'�*���np �kZ�_?FQ?BeOJS�p�Oe}'�*�.kk_?F|JM\p�D'�CL�/G@OmF}JCm�*�.Ykp

.n�p .k�p �.�p ��Y�_?�PoB?��p�FJKLFCJMEF?�*�qwp �qp

�.p�ZkY�_?�PoB?��p�|eBC'�*�.�p�Zq_?RJCLp�D'�4\CmMIO?Q?�N?F'�*�.wY�_?B�p�Oe}'�*��Y�p �nkp Zqq�_?BL��*�KJF'�4OmBOL�8CCL��_?BLp�KBe|JCL�KjBL��7LEL��*��q��_?BL�p�@L�'�*�.YY_?�O?p�D'�CL�/G@OmF}JCm�*�ZZZ�_BLNLO�p�o?S?FJO�mT�ALBOmF}JCJ�*

qZ�p qZqp qZ�p qZZp q[qp q[.p�qYYpqkwp .�np .Z�p .Zqp .knp��YZ

_B?Q?oJMIOJS�BLS?C�*�q.p��Z_B?Q?oJWp� @'� *� qnwp .qnp� �nkp

�w�p Z�Z_B?Q?oJWWJCL�*�.�p�.qp�..p�Z.p�Z�p

qwYp��[Zp��[k�_Be|oL�p�DE'�FmDE'�*��q�

�_Be|JCCJOmF�p�D?EC\�*���Y

�_eo�p�DEB'�*�q�wp qYkp .wZp �Z[

�_eoGCO?�p�DEB'�*�q�np qZk

_eoGMIO?p� @'� F� 2GBG@J}JCm�*q�kp qY.

_eoR\CJp� D'� 4L@omBDIO?Q?� N?F'�*..�

_eoCGp�D'�omR\�/G|LSDIOL�*�.�w

�_eo?FJS�p�FmDE'p�DEB'�*��[qp��kZ

_eoBmFOLp�D'�CL�/G@OmF}JCm�*�.n��_eoB?FCJO�p�aG~��ELoe� 528j

PLHmK�*�.Yp�Zw_eKL�=JHLSR?���bB?@GCO?��p�D?EGC'

.Y�0<�528�*�qwp�Z�p�Ywp�Ykp wZpq.Yp�q�wp�qZYp qZkp qY�p�qY.�*�qYZpqnqp� qnZp qkqp qk�p� .�np .ZZp.Z[p .Zwp� .Zkp .[qp� .[[p ��[p�ZZp �Znp �[Y

�_eKL�p�DEB'��*�qZ[_eKJCMmp�D'�CL�/G@OmF}JCm�*�.nZ_eKO?�=JO?RL� ��1DJN��p� D?EGC'�*

q�wp�.�n_eOR\p�@'�*�.n[p .nk_eOR\CDIOG�NLD@?��*�.kq�_e@L�p�KmFWJCLjN?FDELCGMI�*��.Zp

�.Yp �[�p�Z���_eCLfMI�p�W?E'�DLC'�*�.Yw�_eCLS�p�DEB'�*��qZp �Z.�_eC\�p�N?FDELCGMI��*��Zk�_eC\�p�DE'�FmDE'p�B?S'�*�.[k�_eC\�p� W?E'�*� ��qp �q[p �qwp� ��qp

��Zp����np �Z�p �[._e~BLEp�N?R\Op�FWJEGRI�*�qq�p qqq�_eH��*��qn�_eH�p�OjB�OeB�fBDIO?��RLCOJ�*��Z�p

�ZY�_eH�p�DE'�FmDE'p�OeR'�*�.qZp .qYp�.k�p

.kZ�_eHJ�p�BmS�/G@OmFDIO?��D?ECm��k[L

*�ZZ�_e�LEJCp�D'�4\CmMIO?Q?�N?F'�*�.Ywp

.wkp ���p �Z._e�LEJCDIOG�?TGB?��*���Zp �Zq

[q�

cFB?NL���^FB?NL��*Y�p�.qnp �n[p ZqwpZkk

cK@?CE?Cp�@'�F�6LCLKm�*q.p �Zp�Zkq�c@L��T�D'�X?DIO?�*�.kZcDNLCm\��>DNLCm\���*�.w.p�ZYZcDE?Cm\�*�ZY[

�^FQGCj=JB?C�p�OeB'�NFH'�*�qw��^FM\��*�Z[[p Z[Y

��LB�p�FmDE'�*�Yn��LBj<mDEeC�p�Oe}'�*�q�Y�KLCCLp�D'�0eBOmFDIO?Q?�BjCe�*�..n�GBKGCMmp� D'� CL� /G@OmF}JCm� �*

.[Yp .Yq�GBCJM\p�D'�/mDIO?Q?�N?F'�*�.�p Z.p

�qnp��ZZY�JQLB�1DJN���2m@DEL���*�.kp�[q��?FCL�p�OeR'�*�.Yq�?QLEJCp�D'�_?oB?@JRIDIO?Q?�N?F'

*��.[q�?BKJCMmp�D'�CL�/G@OmF}JCm�*�.�k��eO�p�DEB'p�FmDE'�*��q�p��qY��eO�p�DE'�FmDE'�*�Z����eO�p�W?E'�D?ECm�OjBL��6LB@GRUOL�

*���[��eNLp�NBJDmR?O�D'�`'�*�qkn��eBLFGRI�p�DEB'�*��q��eBLFJM\p�D'�*�q�k�eBLFCGp�D'�CL�2?KmRRm�*�q.p��Z

PLFmTp�D'�*�.Y.PLFLKOL�=?B?HmFDIOLp� D'� CL� /G@j

OmF}JCm�*�.�p�Zqp�.n[p .nnp�.w�p.wkp�.k�p Z.�p Z.qp ZZZp ZZkp Znn

�PLFGBeHL�p�B?S'�*�.knPLFGBHp� NBJDmR?O� F� 0eBOmFDIO?@e

BjCm�*�..n�PLFGBUHL�p�DE'�FmDE'p�B?S'�*�.[kPLF?�p�D'�CL�/G@OmF}JCm�*�.nqPLQmB+\p�@'�CL�/G@OmF}JCm�*�.�p�Zqp

Z.p�.[Yp���.Yw�*�.nqp�.n[�*�.w�p

.wZp�.kqp�.k[p����qp���Yp �q.p �qYp�qwp��Zkp�Z��p�Z.�p ZZ�p Znn

PLQ?WGF+\p�D'�/mDIO?Q?�N?F'�*�.�p�Z.p.k�p���qp ��Zp �kw

PLQeEJCIp�D'�CL�/G@OmF}JCm�*�.n�p.wnp�.kqp Znn

�PLSWJO�p�B?S'p�DE'�FmDE'�*�.[kp�.n[p.wZp .kYp .kwp ��Zp���Y

PLOGBT?CC\���PLOGBT?CDIOJS�OBLS�*�.q�p �[Zp� ��[[p �[kp �nZp��nnpZ�Zp�Zqqp�Znnp Znkp ZkYp Zkn

PLO?BK?CCG�2BGKDELFCJMEF?�5OBLj�CDIO?�� b?R?FC?�� <JTF?RIC?�7LKJ��P2�5b<7��*�.wp�[�p�Zww

�PLRmTCJS�p�B?S'�*�q�np q�wp q.�p�q.Ypq�wp qZ�p qZZp qZ[p .Z�p .Zq

�PLRmTC\O�p�DEB'�*�Yw�PLRmTC\O�p�W?E'�46<�*�qY�p qYZp�qY[�PLRmDCJS�p�B?S'�*�kZp kkPLRe|LCJp�D'�*�KJF'�0LELBJp�D'��PLRe||\p�D'�*�.�p qn�PL@L�eBLp�NBJDmR?O�D'�XBJ|LFL��*

.ZYp�.wk�PL@?O�p�6BLfFJS�<mSDIO?FJS�aELo

�6<a��528jPLHmK�*�.Yp�.np�Zwp�Zk�PLN?B?|GMI�p� W?E'� D?ECm� OjBL

�A?@J��*�q�qp q�kp qqZ�*�qqnpq.Zp�q.Yp�q��p qY�p qYqp�qkk

�PLBmWCJS�p�DEB'�*�ZwnPLB�JCp�D'�4\CmMIO?Q?�N?F'�*�.nqPLDRLF+\p�D'�CL�/G@OmF}JCm�*�.wYPLEFLBCJM\p�D'�CL�/G@OmF}JCm�*�.�p

Z.PLEFLBCJMIOm�RmDJ�*���[p��qnp ZnY�PLE?OL�p�DEB'�T�D'�/m}LFL�*�qZ�p�qkwp

.Z�PLH�KCL�/G@O�F}JCL�*�qwPLHmKCL�:m@GWWJCL�*�ZkYp ZknPLHmKCL�5OBL�CL�*�Zn�PLHmKCm�5OBL�CDIOm�PG@Rm��P5P��*�k�p

Zq�PLHmKC?j5OBL�CDIOL�:LB?KCL� 7GDj

NeoRmOL��P5:7��*�q.p��Z

[qq

�PL\MI�p�N?FDELCGMI�*�qkw�PL\MI�p�DE'�FmDE'p�B?S'�*�.[kp���.p

�qYPo?�DIOLp�D'�CL�/G@OmF}JCm�*�.w[p

.kwPFmBp�D'�4L@omBDIO?Q?�BjCe�*�..Z�PFmBm�p�BmS�/G@OmFDIO?��D?ECm�*�ZZ��PFGCJDRLFL��T�D'�5DEBJOJ�*�Z�ZPGRGCm�4F\EL�*�qq��PGRGCJS�p� OjB�*� KJF'�=mTGBCJS

<LDJRI�=LBEJC�PGRGCJS�p�Oe}'�*��kY�PGRGCJS�p�BG~'�4X��*�qkw�PGCL�p�Oe}'�Q?DN'�*�.Yq�PGCL�p�@L�'�.Y�0<�528�*�Z��PGCKBJC?FLp�D'�CL�/G@OmF}JCm�*�.w[�PGCO?�p�W?E'�D?ECm�OjBL��4ELHL���*

.[qp� .k�p ��qp ��np �q[p �qYp�..p ��q

�PJ@CJS�p�CLKB'�BG~'�*��[��PJ@CJS�p�NB?F'��*�Z�.�PJ@?U�F�oeCOGB��p�DN?QLKJjHB?CmOL

*��kp�q�p�q��*�q[p qnp qk�*�..p.�p�.np���qp��.p��[�*��np��kp�Zq�*ZZp�Zkp�[.p���n�p�Zwwp��ZkY

�PmBOL�p�B?TFmKCJM\�OjBL��d?BC?Q?��*q�Y

�PmBOL�p�D?E'�TF�\TO?FJS�*�ZwZ�PmBOL�p�DE'�FmDE'�NFK'�OjBL��0LBLDOL�

*���[��PmBOL�p�DEB'�*��Y��P@mUOL�p� OjB�*� KJF'� <mE?FDIOJS

`B?DRLF�_@JEB?���P?F�p�NB?F'��*��Zn�P?F�p�DE'�FmDE'��*�Z���P?TeR\�p�OeR'�*�.wZp .k[�P?TeR\�p�DEB'�*�qZ�p qZ[p .�[p .�k�P?BGMI�p�W?E'�NFK'�OjBL��0LBLDOL��*

�[��P?BJW�p� CLKB'� � NB?F'�*� qkp� Zqp

qwnp .���P?BJW�p�NmKNmRICJO�*�qnk�P?B\�p�TLOLBNLEGMI��*�qZ[�P?B\CJS�p�OeR'�/G@OmFDIO?���D?ECm

k[L�*�qZ�p qZZp q[Yp q[np�qkwp�.�np.�kp�.Z�p �YZp Z[w�

�P?\��*�KJF'�AJ@OL�PGCL�P?\�p�DEB'�*��nkP2�5b<7��*�KJF'�PLO?BK?CCG�2BGKj

DELFCJMEF?� 5OBL�CDIO?�� b?R?FjC?��<JTF?RIC?��7LKJ

�PBeo�p�DE'�oeR'p�D?EGC'�*�qwp�Z�p�qY�*�qYYp��qnqp�qn.p qw[p�qwYp�qk�p�.Zwp.Zkp��.[q

PeoJCDIOGp�D'�CL�/G@OmF}JCm�*�.wkp.kk

PeoB\WGp�D'�/mDIO?Q?�N?F'�*�.kqP5P�*�KJF'�PLHmKCm�5OBL�CDIOm�PG@RmP5:7�*� KJF'� PLHmKC?j5OBL�CDIOL

:LB?KCL�7GDNeoRmOL

>FLCCLp�KBe|JCL�W?E'��PLN?B?|M\�*��qkk

�FLC?j�BLCO�FDIOL�?oR'�*�q.p��Z�>FLDJO�p�DEB'p�FmDE'�*�.n�p���wp��k[�>FLDI�p�DEB'�46<�*�n�p�w.�*�wZp�wYp�ww�>FLDI�p�W?E'�D?ECm�OjBL��A?@J��*�q�qp

qq[p�qqYp�qqwp qqkp q.�p q���>Q?B�p�N?FDELCGMI�*�qk�p�qkkp �nn�>Q?B�p�BLS'�*�KJF'�6mE�<?R?KJ@JB�>Q?B�p�DEB'�FK'�4?B?OLE?Q?�*�qZ��>Q?B�p�DE'�FmDE'�*�ZnY

�>KG\�m�dJC�p�|eBC'�15:�*�q.[

�>OD�p�DEB'��W?EJ��ABmCL��*�q�.

�>R@L��p�DEB'�W?EJ��ABmCL�p�DR?FLO�*

qZ[p�.Z�>RICJMIOJSp�LKF?OLE�*�q�k�>@GCCJS�p� OeR'p� TQ?K?@� W?E'� D?ECm

OjBL��bB?@GCOL�p�.Y�0<�528��*q�.p�q.Yp� q�[p� q�Yp q�np qZ.

>DL�p� D'� 0eBOmFDIO?Q?� BjCe�*� .qZp..[p ..Yp ..w

>DOLCIp�D'�2GBG@JDIO?Q?�N?F'�*�qn�pqwZ

>ELRm\�*�ZY[�>ELCUO�p�B?S'�*�.kn�>ELCUO�p�W?E'p�RG@O?�*�.Y�

[q.

�9|�p�DEB'�mT�D'�2LFR?O?@L�*�.�np .Zk�9|LO�p�DEB'�*�qkw

V?BKLC� �V?BKLCDIOm� DF\EL�� *��Yp ��np��q.p�ZYn

�6LFOL�p�DE'�FmDE'�*��q�6LFeRL�2GEB?���0LBLD��p�CLKB'�NB?F'

*�qw.p��k[�6LKJR?�p�OeBmCCJS�OLNGRLC�*�KJF'

aGFWeO�<LDJRI���6LK?FoGMI�� mT� D'� /'�*� wkp � knp

q.�p q.Zp q[�6LTLHDELC�*�.Y[p .nZ6LRJCmFp�D'�CL�/G@OmF}JCm�*�.n�6LRJCmFp�D'�e�4R?FLWWJCm�*�.kqp �.q�6LRJCL�p�KmFWJCLjN?FDELCGMI�*�Z���6LRJCL��mT�45P�*�q[kp .Z��6LRJCL�p�DLC'p�KBe|JCL��_G@L��*

q�np qYnp �q�p �ZY6LRe�p�@'�CL�>FLC?j�BLCOmF}JCm�*

q.p �Zp�YZ6LRe}JCL�*�q.p q�p kZ6LRICJMIOm�FGBHJ�*��.n6LRICJM\p�D'�/mDIO?Q?�N?F'�*�.nZp

.wqp .wkp .k�p ��Y6LRIWeQLp�D'�*�q�k6L@mCDIOJSp�N?R\Op�mC|GCGB��*�qq�p

qqq�6L@mCI�p�DOLRL�omR\�D'�2BJoJ�mF�*

.k�6L@+\CGp�D'�CL�/G@OmF}JCm�*�.Ykp

.nqp .n�p .wkp .kYp �q[p Z.q6L@+\CGMIj2?KmRIDIOL�?oR'�*�nY6L@+\COLp�NBJDmR?O�*�qkw6L@+\COLp�D'�*�.wkp �Y�6L@+\COJp� D'� CL� /G@OmF}JCm�*

.�p Z.p��qY6LCLKL�*� qYp �Zp� �np� [.p� Z.�p� Zk�p

Zkqp ZkZ6LC?CJp�Q'�*��[w�6LBLDI�p�DEB'�*�.Yqp .wZ

6LBFLCDIOJS�_@JEB?� ��1BDIOJS��pW?E'�*�qY�

�6LBJS��*�KJF'�1Rm\B�^FDELHmS��6LBRJOmFp�D'�CL�/G@OmF}JCm�*�.n�p

.n�p ZZZp ZZk�6LBR?��*��[Y�6LBR?�p�BLS'�BG~'�4X��*�KJF'�A?@L

<?R?KJ@JB�6LB@GRUO�p�DEB'�*�qZ[p��qw[�6LB@GRUO�p�N?B'p�OjB�528��*�qkkp

.q[p�.qYp�..�p�.�[p�.Y.p�.YYp�.nqp�ZYp �[�p��[np��kkp�Z��p Z�Z

�6LB@GRUO�p�B?S'�*�kk6LBNLEJp� Q?BJ�*�.qwp � .��p � .Y[p

�..p���.Zp �Zkp �[Yp Z[n6LBNLEDIOL�5OBL�CL�*�qZ�6LBN?��*��Zk6LD\p�DGR\COL�*�Yk�6LD\��mT�D?ECm�OjBL��A?@J��*�q�q6LEGBJCLp�HeEmB�*�...p ..Z6LE?FmMGp�@'�*�qn.�6LEBeD\��*�ZwZ6LEBeD\p�DGR\COL�*�wZ6LEBeD\p�DGDEBL��/GFL��*�q[�6LW?B� <?R?KJ@JB� ��2eQLW��p� TLDE'

CLKB'�4X�*�qwn6X<�*�KJF'��6?BNeD�XGTNfWGCIDEFL

<GFCGCE�CG�?��6X2��*�KJF'��6?BNeD�XGTNfWGCIDEFL

2eoRmWCG�?��h��*�KJF'�6?@LCKL�<mKEJCOe�6FmEJ�p�BmS�/G@OmFDIO?��D?ECm��k[L

*�ZZ�p ZwZ6F\EO?FDIOJSp� N?R\Op� TLFmKeFLW

KF?Be�8OLKG@m��:LeO�*�qq��6GBj1BDIOJS�p�OjB�*�qnqp qwwp�qwkp

qkk6GBT?CLp�RmCm\�*��n[p Z�qp Z[Y6J�Fp�@'�*�qqp���p�wnp��.wp ��[p �[Zp

�n[p�ZZnp Zk[6JELS�*�ZYZ6mCKR\BDIOJS� bBJMIp� K?C?}JO� mT

D'�7GNmKI�*��q.

[q�

6mCKBLEmFp� D'�0eBOmFDIO?Q?�BjCe�*..w

6mCDIOGp�D'�CL�/G@OmF}JCm�*�.�k6mE� <?R?KJ@JB� ��>Q?B��p� BLS'�*

.[.p .[�6mEOm�O?�=LBm\� ��4EGN?FL��p� KmFj

WJCLjN?FDELCGMI�mT�2?RELF}JCJ*qnp� qwp� �kp� wwp� q�qp� qq�p� q..pq.Yp q�Yp� .[�p� .[kp� .Yqp� ���pZ��p Z�Z

6RJD��GKmB���4RLoJS��p�DEB'�*�.qpZ�

6RUWp�Q'�F�4O?RmFDIO?@e�BjCm��*��nwpZ[n

6C\|Gp�RmD�*�.[Yp .kq6C\|JMIOJS�RmD�*�qw.6C\|CLp�Q'�CL�/G@OmF}JCm�*�ZZY�6?oTL�p�W?E'�*��Ynp��k[6?oJRIDIOGp�D'�CL�/G@OmF}JCm�*�qnwp

�Zn6?FLRGCO?p�o?RI�GFJMIOJS�RGSE'�*

Zn��6?FLRI�p�DEB'�/G@OmFDIO?��D?ECm��k[L

*���qqnp�q.[p q.Y�6?QeE�p�DE'�FmDE'�*��q�6?|e�CGp�D'�CL�/G@OmF}JCm�*�.�p

Z.p�.[[p �Zkp �kw�6?TLO�p� B?S'p� DE'� FmDE'� NFK'� OjBL

�0LBLDOL��*��[�p��knp�Zw�p�ZwZpZw[

6'�1RGODLp�K?C?}JO�*��q.6?RGOMm\�2GEBL�V'�2?EmWC?Q?� NB?

NmKNmRICe� m� NB?EJNmKNmRICeo?B?EIoe� F� 5OBL�Cmp� LBHmFCJS~?CK�NBJ�0?B?CE?CDIO?@e�eCmjFGBDJEGEm�*qqp�q[p�.qp���p��Yp�Z.

6?RJ@L�*�Y�6?R?@J\p�@'�CL�>FLC?j�BLCOmF}JCm

*��q�k�6?R\�p� OLTLHp� FmDE'� /G@OmFDIO?�

D?ECm�k[L�*��.Y�p �.Y[p �.nZp ��w6?@LCKL�<mKEJCOe�*�.��p �Yqp �YY6?@LCGMIOL�BGDNeoRmOL�*�.Yp�Zwp�ZnY

6?@LCWLp� D'� CL�/G@OmF}JCm�*� .�p.Yp Z.p�.�np .[[p .Yw�*�.n�p�.n�p.nYp� .nk�*� .wqp .wYp� .k[p� ��qp��np ��kp� �q�p �q.p� � �qnp� � �.�p�.qp ��Zp �YZp�ZnY

�6?@LB�p�FmDE'�*��Zk�6?@LB�p�N?RO'�<2�*�.w��6?@LHL�p�DEB'�*�.wZp ZZZ�6?@J��p��OmRICJS�E?FLBJ���ABmCL�

*��k[�6?CJO�p�OjB�*�KJF'�bLRI?�=JHLSR?6?C?FLRGMI�̂ FQGCp�N?RO'�*��w�p Z[�6?C?NLKDIOJS�1RGODL���1DEB?FGBH�p

�0?N?R\��p� W?E'� /G@OmFDIO?�D?ECm� k[L�*� kp� q�p� qwp� �qp� �.pqZ�p qZZp� q[Yp qY[�*� qYkp� qn[pqw[p qwnp�qwwp��qk.p�qkwp�.�n�*�.q[p.�Yp� .ZYp� .Zkp� .[qp� �q�p� �qkp��np �[.p �Yqp �YZp� �Ywp� �Ykp�nYp �nkp��w.p��wwp�ZZ�p Z[wp Zkw

6?NJDIO?p�D'�*�qnw6?BmCGMIp�D'�*�k�p .Zn6?BKG�aLBR?EEL�*�ZZq�6?B?oOL�p�RLCO'�*��k[�6?B?FJW�p�B?S'�*�..�6?B?FCJOJp�D'�*�qnp��k6?B?RJO�2?RIDIOJSp�D'�CL�/G@OmFj

}JCm�*���.6?B?RJOp�D'�CL�/G@OmF}JCm�*�ZZZ6?B?DC?p�@'�CL�/G@OmF}JCm�*�q�k6?B?DEGCO?p� D'� _?oB?@JRIDIO?Q?

N?F'�*�Yq�6?BN�p�W?E'�*�.Yw�6?BNeD� XGTNfWGCIDEFL� <GFCGCEj

�CG�?���6X<��*�����6?BNeD� XGTNfWGCIDEFL�2eoRmWCGj

�?���6X2��*��q[6?DEGB?FGMIp�D'�CL�/G@OmF}JCm�*��q�6?DE\MIOJS�_@JEB?���<mDO��p�DEB'�*

.qp�Z�6?MLC� >FLCCLp� OeTJCL� 4EGNLCL

4EGoGRIDIO?Q?�*�[n6?MLC� 2B?OmNp� oLEIO?� cRG?C?BJ

6?MLCj4EGoGRIDIO?��*�q.

[qZ

6?MLCj4EGoGRIDIOL�cRG?C?BLp�@LEJ4EGNLCL�4EGoGRIDIO?Q?�*�q.p�q�p�Zp�[.�*�[Zp .�[p Z[np Zk�

6?MI?R?O�`B?DRLF� ��6BJRLW�p� �4ejHJS��p�H?B'�D?EGC'�*�qwp �Z�p�q�wpq[wp�qnqp�.[qp .[[p .n[p �Znp��kk

6BLSCL� �6BLSC\�p� D'�_?oB?@JRIDIjO?Q?�N?F'�*�qqn

6BLOmFp�@'�*�qZp �[p�[np�q�Zp q�kp qn.p.�kp�Zqw

6BLDmWJCp�@'�F�2GBG@J}JCm�*�q[w6BLDC?KG@DIOJS�>FLC�*�qqp����6BG@mCI�p� DEB'p� B?K?@� � mT�45P�*

q..6BG@RI�*�.��6BG@NCL�p�DEB'�*�.Yq6BGCEL�4EGNLCp�eWJEGRIp�KJBGOE?B

�O?RJ�F�D'�/m}LFL�_?Rm�C\�*qZp �Yp�qZ[p�.Zq

6BGMmFp�D'�_?oB?@JRIDIO?Q?�N?F'�*qn�p qk[p qkYp .Zqp .ZY

6BJFGp�NBJDmR?O�D'�/m}LFL�b?Bm�C\*��qq.

6BJFGp�NBJDmR?O�D'�0'�*�qwZ6BJFGp� D'� CL� /G@OmF}JCm�*� qqZp

q.Zp q.[p .Znp .kqp �.Yp �ZYp �Zn�6BJFGCO?�p�o?RI�GFJMIOJS�oLCKJE

*���Y[p �YY6BJFGCO?p�o?RI�GFJMIOJS�DE'�RGSE'

*��Zw[�6BJF?CmD�p�W?E'�D?ECm�OjBL��A?@J�

*�q�qp q�.p qqZp qqwp qqkp�q..p�q.[6BJFeMIOJS� >FLC� ��8BOLKmS�p� �X?j

BJD��p�BLS'�BG~'�4X�*�.qp .np Z�pZkp�qnY

�6BJRLEJS��*���q�6BJRLEJS�p�@mCGBCJO�*��qw�6BJRLW�p� OjB�*� KJF'� 6?MI?R?O

`B?DRLF�6BJ@�p�o?S?FJO�*�ZwZ�6BJ@DIOJS�p�Oe}'�Q?DN'�*��qn6BJCJWWJCL�*�.[�p��.wZp ���p��.wp

Z��p��Znn�6BmTI�D@mH�TLRmTL�p�DN?QLKJ�*�kp�q�p

q�p�qZp qn�*�qkp .Yp��qp��.p��[p���w*�Z�p�Zwp�[kp�.�.p ZkY

�6B?F�p�DEB'��D?ECm�OjBL��A?@J��*q�.p�qqw

�6B?F�p�OeR'�*�q.Y�6B?NJFL�p�DEB'�*�.wZ�6BeO�p�Oe}'�*��ZZp �Znp �Zw�6BeO�p�DEB'p�FmDE'�*�.n�p Z��p�Zw�6BeEJp�@'�*��YZ�6DGC\�p� @L�'� D?ECm� OjBL� �6LBj

@GRUOL��*��[�p�Z��p Z�Z�6DGC\�p�BG~'�41�*�.nwp .wn�6DGC\�p�BG~'�5dA�*�.nY�6eoLSWeO�p�NB?F'�*�..�6eoLCI�*�.��6eo�\O�6?DEI�*�q.p��Z�6eTI@L�p�N?B'�*�Z.q�6eTI@GCO?�p�FmDE'�*�Z��6eTI@JCLp�D'�_?oB?@JRIDIO?Q?�N?F'

*�qZp�qYp �Yp�Y[p�qq�p qqZp qqwp�q.Zpq.[p q[kp���qYqp qYkp �qn.p�qn�p .�.p.Zqp�.Z.p .Znp��n�p �nq

6eRLO?FLp�DGR\COL�T�D'�6eTI@JCL�*qYq

�6eRJO�p� FmDE'� D?ECm� OjBL� �6LBj@GRUOL��*��[�p�Z��

6eRJO�=JO?RL�*�.kp�[q�6eRJOp�DGR\CJC�T�NBJDmROL�7?NL�*

.Zq6eRIWJMmp�D'�*��kY6eR\�mFp�D'�CL�/G@OmF}JCm�*�ZYw6eR\�CGp�D'�4\CmMIO?Q?�N?F'�*�.nYp

.w�p .w[p ��qp ��np ��kp �q.p �.q6eR\�C\CDIOJS�RmD�*�.nYp .knp ��n�6e@GCO?�p�DEB'�*��k[6eNCLp�D'�2GBG@JDIO?Q?�N?F'�*�qn�6eNB?p� K?C?}JO� mT� D'�6eR\�CG�*

�q.6eB@LCJMIOJS�RmD�*�qw�

/LTOJp�NBJDmR?O��*�qnq�/LSomKL�p�DE'�FmDE'p�|LCK'�*�.[kp��.Ywp

.n[p .wZp �Z[

[q[

�/LC�p�Oe}'�*��.Yp �ZZp �Znp �Zw/LNmO�7?@LCp�LFE?B�*�Zkk�/LDEmFOL�p� D?EGC'�*� KJF'� `COmFj

DIOJS�bBJQ?BmS���/LDEmFOL�p�W?E'�*�qY�p�qYZp qY[p�qYYp

qw��/LDEmFOL�p�W?E'�46<�*�.Zw/LDEmFOJp�D'� �0eBOmFDIO?Q?�BjCe�*

.q[p�..[p ..kp .��/LEFm\��*�ZY[�/GomKI�p�NB?N'�*��[w�/GF��*�q[�p Z�./GFO?�T�D'�X?CKLBmFOL�*�Y��/GFO?�p�BLS'�NB?F'��CL�/G@OmF}JCm

*�.nqp�.nYp .nwp�.wnp�.ww�/GFO?�p�W?E'�D?ECm�OjBL��XeBRLOJ�

*��qnZp qk�/G|LSDIOp�@'�*�.�w�/GSOmD�p�B?S'�*�.wZ�/G@m��p�DEB'�T�D'�6eR\�CG��*��.q/G@OmFDIOL�D?EC\p�k[L�*�qqp�..p�.np

Z�p�.[np���[p��.kp �Zqp �Z.p �Zwp��n.�/G@OmFDIOm�Q?BJ�p�BmS�/G@OmFDIO?�

D?ECm�k[L�*�ZZ��/G@OmFDIOm� N?E?OJ�p� BmS� /G@j

OmFDIO?��D?ECm�k[L�*�ZZ��/G@OmFDIOm�BmOJ�p�BmS�/G@OmFDIO?�

D?ECm��k[L�*�ZZ�/G@OmF}JCL�*�kp�qwp�qkp�.Zp�.Yp�.kp

�q�*���p��kp�Z�p�Z.p�ZYp�Ywp q��pqZ�p�qZwp�qZkp qnqp qnZp�qn[p qnw�*qwqp� qwnp� qwwp� qknp� qkwp� .��p.��p .�kp�.��p�.�Yp �.�kp�.[qp .[�p.[Zp�.[np�.Y�p .Y[p .nkp�.wkp�����p���p���[p �.np �.kp ���p��ZZp��ZYp�Zwp �[�p ��[.p��[�p���[Yp���[wp��Y�p�YZp �Ywp� �n.p� �nZ�*� �nYp� �nwp�w�p �kqp��kZp��kYp �kw�*�Z��p�Z��pZ�[p Z�kp� Zqqp� Zq�p Z.�p Z.kpZ�.p ZZ�p ZZYp�Z[[p�Z[np �ZYnp ZnYpZnnp Znkp�Zwkp�Zk�

�/G@O?�p�.Y�0<�528�*�kp qwp���qp���p.�np���Ywp�Z��p��Znn

�/G@OeD�p�DE'�FmDE'�*�.Yw/GCmC�*�Zqwp�Zqk/GCmCLj4ELRmCLp�NLBEm\�*�Zqk�/GD\�p�N?FDELCGMI�*��.Zp �.Y/GD\p�DGR\COL�T�D'�7'�*�w.�/GEeC��*�qZ��/GEeC��T�D'�<?R?K|�*�.�n�/GEeC�p�?OBe|CJS�BG~'�4X�*�qwnp

qknp .[�p .Y.�/GEeCj/GEUWJS�p� OjB� ?H?B?CC?Q?

FK'�*�.�n�/JC�p�OeR'�*�.wZ/JNLp�D'�F�XmBWLC}JCm�*�qqnp�q.[p

qY[p�qYnp .Z[�/JN?FJS�p�FmDE'p�DEB'�*��Y.p��kn/JN+\p�D'�0eBOmFDIO?Q?�N?F'�*�.qk�/JD��mT�D'�/'�*�wk�/JD�p�B?S'�*���.�/JDE�p�DE'�FmDE'�*�Z��/JEFL�*�ZY[�/mKL��*�.[Y/m|CJOJp�D'�*��ww/m@CL�����2mDC\��p�D'�_?oB?@JRIDIO?Q?

N?F'�*�wwp�qqZp�qq[p�q.��*q.Yp�q�.pq�np .Z�p�.Z.p�.Z�p�.Znp .Zkp .wk

/mDO?FLEGp�D'�_B?Q?oJMIO?��?oR'�*Y�

�/mD?FJS��*�Yw�/mD?FJO�p�DEB'�*�.Yqp �kZ/mDIO?p�@'�7\�mFDIO?Q?�F?fF?KDEFL

*��.�p�Z.p�.wwp ��Yp �qY�/�E?NJD�528�p�DGBmSCG�FJKLCC\�*

kp�qqp q[p qnp .�p .qp ..p�.Y�*�.kp�q�*��p��np�Zq�*�ZZp�Zw�*�[q

/m�C\p�D'�*�qn./m�C\p�D'�CL�/G@OmF}JCm�*�.kq/m}LFL�b?Bm�C\p�D'�_?oB?@JRIDIO?j

Q?�N?F'�*�qZp�qnp��kp�YZp qq.�*qq[p qqnp�q.Z�*�q.Yp�qk�p .�.p�.�wp.Z�p .Zqp�.Z�p���.Znp �n[p�Z�Zp Zkn

/m}LFL� _?Rm�C\p� D'� _?oB?@JRIjDIO?Q?�N?F'�*�qZp��Yp�qqnp�qqwp�q.Zpq.[p���.Z�p�.Zqp .ZZp .Zn

[qY

/m}LFLp�D'�F�XmBWLC}JCm�*�Y[p�q.�pq.Zp q.[p qn�p qknp .Z�p .Zqp�.Zn

/m}LFOLp� D'� _?oB?@JRIDIO?Q?� N?F'*��.Z.

/m}LFDIOJS�omS�*�q.np ���/m}JCLp�D'�*�qwZp .[qp .[Zp .[[/?KJCLp�D'�5DEBJMIO?Q?�BjCe�*�.�[/?KJCOLp� D'�_?oB?@JRIDIO?Q?�N?F'

*��.Zk�/?TL�p�DEB'�*��qY/?NmCOLp�D'�CL�/G@OmF}JCm�*��Zn/?NmCCJOp�Q'�CL�/G@OmF}JCm�*����p

�Z�p �ZZp ZZY�/?NeHj_?FQJS�p� DEB'� T� D'� <?R\

2?DE?R?FL��*��.q�/?E?��p�D?E'�DLC'�*�ZwZ�/eQ?FJS�p� FmDE'p� DEB'�*� .qqp .qYp

�qYp �Z[p �Zn�*��[�p��Y�p��Yqp��YYp�Ynp��nYp �w.

/e|GMIOJS�^FQGC� ��aeFLB��p� KjBpOeB'�RmOLB�*�q�qp q�np �qqZp qqnpq.Yp q.kp q��

/e|?O�b?Bm�CmSp�D'�4EBmROmFDIO?Q?BjCe�*�.�qp �kY

/e|?Op�D'�*�...p ..�p ..Z/eOmFp� D'� CL� /G@OmF}JCm�*� .k�p

��[p �kZ/eOmFDIOm�K?RJCJ��*��qZ/eOmFDIOJS�RmD�*�.[Y/eOLCGFJWp�DGR\CJC�*�Y�/eOLDmfFmWp�N?R\Op�o?�FOLB�*�q[q/eOLDfFJWp�RmDCJWJS�*�q�n/eOLW� _@JEB?p� DGR\CJC� mT� D'� 2?j

R?CCL�*�.n�/eOLW� =JHLSR?p� DGR\CJC� mT

D'�2?R?CCL�*�.n�/eO?FGp�D'�/mDIO?Q?�N?F'�*�.�p Z.p

.nYp�.w.p .w�p�.wnp ��[p���Y�*���wp�qYp���.�p ��Zp �Z.p �Z�p ZYw

/eNLR?p� o?RI�GFJMIOJS� NN?RO'�*Zn�

/eNOmFp�D'�/mDIO?Q?�N?F'��*�.�p�Zqp.n�p�.wkp�.kkp �Zk

/eNOmFDIOJS�EeCGRI�*����

/eNOmFDIOm�K?RJCJ�*�.Ywp .kk/eNOmFDIOm�RmDJ�*��qYp ZZZp�Z[w/eWJCMmp�D'�*�.Z�/eWJCMmp�D'�CL�7?QLEJC}JCm�*��YZ/IFmFp�@'�*�qYp �Zp��wp�.qnp �...p �..Zp

..Yp .���/IFmF�p�D?EC\�528�*�..�p ..Z/IFmFDIOL�EUB@L�*�.�./Uo�E?Fp�N?RO'�=�X�*�.qp�Z.p�Z��/UoL��*�nY�/UoL��T�D'�2R?DOG�*�Z���/UoGCIOJS�p�B?S'�*�.wZ�/UEJS�p�DEB'�*��Z�p �Z[p �ZY/UE?FJDIOLp� D'�4ELB?DL@omBDIO?Q?

BjCe�*�.qnp .qwp��Yw/\HLFLp�D'�_?oB?@JRIDIO?Q?�N?F'�*

Y[p q.Yp qZqp�qk[p qkYp �.�Yp .�k�*.Z.p .Z[p .Zwp .[.p .wk

/\HLFDIOm�RmDJ�*�qk�/\�OJ�=eB?FLCmp� D'�4ELB?DL@omBj

DIO?Q?�BjCe�*��kw

�=LO�p�OeR'��*�.w��=LOmFOL�p� .Z� 0<� 528�* kp qqp

qwp .qp ..p .np .wp���q�*���p�Z�pZkp�.�np��.q�p�.qYp��YYp��Ywp��nYp��kwpZww

�=LOLBGCO?�p�Oe}'�*�.n.�=LO?@LMIOJS�p� OjB� o?�FOJ� � CL

_B?Q?oJWWJCm�*��Y�p �Yqp��w��=LODJ@�p�OjB�o?�FOJ�*���.�=LRGCIOJS�p� � o?RI�GFJMIOJS

B?TFmKCJO�*�.ZZ�=LRJS�p� OjB�*� KJF'� =mTGBCJS

<LDJRI���=LRJS�7?@O?�p�DEB'�*�.�.�=LRJCL�p�DEB'�*��qY�=LRe�L�p�TF�\TO?FL�*�Yn=LR\FLp�D'�_?oB?@JRIDIO?Q?�N?F'�*

qYnp qw[p qkYp .Z�p .Z[p .Zkp .wk=LCmFp�D'�CL�/G@OmF}JCm�*��qnp��..p

�.wp ��.�=LBmSOL��T�D'�XLCKB?FL�*�.kZ

[qn

�=LBmSOL��T�D'�b?BKJCm�*�Z���=LBmSOL�p�@L�'�*�.YY�=LBmSOL�p� KmFWJCLjN?FDELCGMI�*

�.Zp��.Yp��Zkp���[�p �[Zp�Z���=LBmSOL�p�BG~'�5dA�*�Z�qp Z�.=LBmSOLp�DGR\COL�*�qZk�=LB�WOL��*�KJF'�4LFWJC�=LBm\��=LBJD\p�DGR\COL�*�kq=LBO?FMJp�D'�CL�/G@OmF}JCm�*�.kY�=LBEL��*�KJF'��mRI�`B?DRLFL���=LBEL�p�KjB�*�q.kp Z�Z�=LBEJC�p�NB?N'�*��[k�=LBeD\�p�NmKNmRICJM\�*�Z��=LBeD\p�DGR\COL�*�q.wp q.kp q�[=LB�LRRLp�NRLC�*�Z�n=LEFmSWeO� 4RLFO?p� DGR\CJC� T

D'�7GNmKI�*��q.=LEBLQ?CLp�Q'�CL�/G@OmF}JCm�*�.kqp

�.np ��[=LMeQ?FLp�NBJDmR?O�D'�6eTI@JCL�*

qn�=<_��*�KJF'��=mCmDEfBDEF?��FCeEj

BfCCmH�KfR�=�X�*� KJF'� �=mCmDEfBDEF?� �?j

DeKLBDEFfCC?S�ofT?NLDC?DEm��=GKFmKI�p�o?S?FJO�T�D'�/?KJCOL�*

q[kp�.Zkp�.[.�=GKFmKI�p�DNGMOeB�fB�*��qn�=GKFmKI�p�DEB'�*�.w�p .wZp .ww�=GRI?Km\�p�DEB'�*�qkk=GCW?Rp�Q'�*��k��=GDECJO�p�DEB'p�OeR'�*�..qp�..�=JOmFp�D'�/mDIO?Q?�N?F'�*�.Ywp�.wkp

.k.p .k[p ��[�=JOJEL�p�D?EGC'�*�..�p ..qp ..�=JO?FLp�N?EmO�omR\�D'�=JOmF�*�.k.�=JO?RL�p�DELC'�*�ZwZ�=JB?C�p�DE'�FmDE'�*�.w[�=JB?C�p�H?B'p�OjB�FK'��XLDGSC��*

.�p Z.p�.Y.p�.Ynp .nqp .nwp�.w�p�.Ynp

.nqp .nwp �.w�p���[�p �[[p��[np��Y�p�Yqp��YYp �nY�*��w�p��w.p��k.p��k�p�kwp��kkp�Z�Yp�Z�np Z�kp�Zq.p Zq[pZqkp�Z.�p�Z.Zp Z.Yp�Z.wp Z.kp Z�.p

Z�Zp Z�kp�Z[qp�Z[[p Z[kp ZY.�*�ZYZpZY[p ZnZ�*�ZnYp Zwqp�Zw�p ZwY

�=JB?DRLFL�� ��=DEJDRLFL��p� CLjBGWGCL��4LSQ?BL��*��[kp�Zn�

=JHLSRJ�JC�=JO?RLSp�K?C?}JO�mTD'�7GNmKI�*��q.

�=JHLDI��mT�D'�/'�*�wkp k��=JHLDI�p� TF�\TO?FJS� mT�D'�6BLSC\

*��qqnp�q.Y�=JHLDI�p�DEB'�mT�D'�6'�*�wk�*�kqp

q.[p�q�.p�q�Y=JWOmFp�D'�CL�/G@OmF}JCm�*�.[w=JWOmFMmp�D'�4\CmMIO?Q?�N?F'�*�.��=mTGBCJS� <LDJRI�=LBEJC� ��7GC�p

�PGRGCJS�p��=LRJS��p�@LS'p�OjB�.Y0<�528�*� qqp� qkp Z�p� Zqp� qnZpqnwp qwqp�.qkp�..�p�...p .�q*.�[p.YYp �.Ywp .n[p�.nwp��.w.p�.wZp�.w[p�.�p��Zqp��Z.p��Z�p���[kp��Ywp�Znn

=mRmMm\�?oJFLEGRIDIOL��=1��*�qZ�pqn�p .nq

�=mCmDEfBDEF?� FCeEBfCCmH� KfR��=<_��*�q�p���p�qwnp .q[p�.[�p��Ywp�nwp��wwp��kqp���Z�Zp ZqYp�ZYkp�Zn�

�=mCmDEfBDEF?��?DeKLBDEFfCC?S�ofT?jNLDC?DEm���=�X��*�.qp�Z.p�qwnp�.[�p�kq

=mCmDEGBDEF?� O?@eCmOLMm�� 2?RI}m*�����

�=mBCJO�p�DE'�FmDE'�*��q��=RJCLB�p�DEB'�*�nq�=CUH�p�FmDE'�*���n=1��*�KJF'�=mRmMm\�1oJFLEGRIDIOL�=?QJRL�p�W?E'�NFK'�*�[qZ��.q[=?OBGp�D'�CL�/G@OmF}JCm�*�.�p Zqp

Z.p� .n[p� .w�p .wkp .k�p ��kp� �q.p�qwp���Zp�ZZZ

=?CLDEJBGMIp�D'�4O?RmFDIO?Q?�BjCe*���..qp ..Zp�.��p .��

=?B?T�=JHLSR?p�@JDEGMI�*�[n=?B?HmFp�D'�CL�/G@OmF}JCm�*�.�p�Zqp

Z.p�.n[p� .k�p �qn=?B?HmFCJM\p�NBJDmR?O��CL�/G@OmFj

}JCm�*�.k�

[qw

=?B?HmFDIOm�Q?BJ�*�ZZZp Znn=?B�JCp�D'�4EBJSDIO?Q?�BjCe�*�Zqk=?DOLRI�=JHLSR?���_eCLS���*�.qp

Z�=?DOFLp�@'�*�wnp .k.p �..p ��[p��n[p

Zqw=?DO?FDIOL�?oR'��*�nw=?DEJp�D'�*�.��p .�q�=?EB\��*�.[�p .[Y�=?H�p�DEB'�T�D'�`FmBCJO�*��.q=BJQR?Kp�D'�4\CmMIO?Q?�N?F'�*�qY�p

qYwp�qYkp .�kp .Z�p .ZY�=DEJDRLFL�p�NB?F'�*�Z�Z�=eRJOJ�p�DGR\CJ�T�D'�<?R\�2GEB?FL

*��.k��=eHL��*�KJF'��T?M�>FLC���=eHL�p�N?FDELCGMI�*�Z���=e�OL��*�KJF'�`MO?���=e�OL�p�OjB�*�q��p q[�=HLFLp�D'�CL�/G@OmF}JCm�*�.nZ=UCHGCp�@'�*�qwp .np��qp��.p��Ywp�Zkk=\CO?FDIOL� ^RJDLFGELp� KBe|JCL

7?@LCL�=\CO?FDIO?Q?�*�Zkq=\CO?FDIOJS�7?@LCp�CGom|�4EGNLCL

4EGoGRIDIO?Q?�*�Zk�p Zkqp Zk�

�:L�XLCMm�p�NBJDmR?O�D'�6LRICJM\�*.wk

�:L�XBG|mFDIOm@�p�HLEL�omR\�D'�/\HLFL*��.ZZp .wk

�:LTLB�p� DE'� FmDE'� FK'� �XLDGSC��*�Y�p �nw

:LSKeHp�K\O�T�D'�/m}LFL�b?Bm�C\��*.Zq

:LCWmFOL�<GRJOLp�D'�4EBmROmFDIO?Q?BjCe�*��Yq

:LCWmFOL�=LRLp� D'� 4EBmROmFDIO?Q?BjCe�*��[Z

:LCWmFOL� �:LCWmROL�p� D'� 4EBmROmFjDIO?Q?�BjCe�*�.q�p��[.�*��[Zp�Yqp��YY

:LNLfKR?p� @'� F�dGH?DR?FLWWJCm�*.wp�[�

�:LB?KCJS� O?@mDLBmLE� FCeEBGCCmHKfR���:6<_��*�w�p q�np q�wp�q�ZpqZ�p .Z�

:LDEeC\p�DGR\COL�*�kqp�k�p�q.wp�q.kpq�[

�:LELROL��*�Ynp .[Y:LELROLp� KBe|JCL� OjBL� �6GBj1Bj

DIO?Q?��*�qkk�:LELROL��T�D'�b?BKJCm�*�Z��:GoG}LCJ� �:fof}LCJ�p� D'�4\CmMIj

O?Q?�N?F'�*�.�p Z.p�.nqp�.n[p .nn*�.nkp .k�p .kYp�Z.q

:GFmDEOLp�D'�*�qnn:GKmRICLp�D'�4EBmROmFDIO?Q?�BjCe�*

qn[p ..[p �w�:GKmRIC\CDIOm�RmDJ��*�.q[p ...�:GTo?BJ@L�:LM�\�p�|eBC'��*�q�p��Z�:GTQ?KL�p�DEB'�*�.Yqp �Z�p �Z[�:GTR?@CJS�p�FmDE'�*��Y.�:GCJW�p�o?RI�GFJMIOJS�OLNBLR�*

qYwp .ZY:GB?Cp�BJ@DIOJS�m@NGBLE?B�*��..�:GER\�p�OeR'�*�.Ywp .nZp .knp ��w:GEBGoOLp�D'�F�XmBWLC}JCm�*�.�[�:GHBJDE�p� ~LB@'�*� KJF'� 4?FQLC

`B?DRLF���:GWLS�p�OjB�*�ZY�:m@GWWJCL�*�q�p��.p�Y�p �wwp �q�kp

qqqp q�Zpq�kp qZ.p� qZnp qn.p� qnkp.�kp�.qwp�.[�p �Ywp��Ykp��n[p�Zww

:mDLp�B'�*�ZZY�:mWOL�p�N?B'�*��[[:6<_��*�KJF'� �:LB?KCJS�O?@mDLj

BmLE�FCeEBGCCmH�KfR�:?FJS�/eNOmFp�DELCMm\�*�.wkp .kk�:?FJS�p�DEB'�*�Z�w�:?FJS�aR\H�p�|eBC'�*�qYp��w:?F?FLMIOp�D'�CL�/G@OmF}JCm�*�.nq:?F?DmROJp�D'�4\CmMIO?Q?�N?F'�*�.�p

Z.p�.[Yp .nkp �qYp ZZZ:?F?DGRJMm�6?TJMIOmp�D'�*�Y�:?F?ELCMmp�D'�*�.[Z:?@OL�<LDJRI���1RGCI��p�B?S'�*�qZqp

qZkp�q[�

[qk

:IUj<GDE@�CDEGBp�@'�*�[.p Zk�:IUjV?BOp�@'�*�qqp���

1FGBO?�=LBO?j4EGNLCp� NBLFCeO4EGNLCL�4EGoGRIDIO?Q?�*�Zk[

1<65���*�KJF'�1BQLCmTLMm\�<J}JH6R\D�5OBL�CDIOJH��m@CLTmS

1FBLWeOp�o?RI�GFJMIOJS�@LS?B�*Zn�

1KBLp�B'�*�ZZY1KBGH?FLp�D'�CL�/G@OmF}JCm�*�.w�1OF�Rp�@'�*�ZkZ1OBeQRLp�Q'�CL�/G@OmF}JCm�*��..1OBeQRJOp�Q'�CL�/G@OmF}JCm�*��.n�1OeCI�p�OeR'�*�.Yqp .kZ�1RmSCJO�p�W?E'�D?ECm�OjBL��XeB?Q?�

*��qnwp qnk1Rm\B�̂ FDELHmS���6LBJS��p�DE'�DEB'�*

wkp�k�p�q�.�1RGQ�p�NFH'�FK'��XeRLFL��m��XLDGSC�p

/G@OmFDIO?�� D?ECm� k[L�*� .w�pZ��p Zqqp Zq.

�1RGQ�p�@LS'p�OjB�<1��4\C���*�KJF'1CJ�OGFJW�=JB?DRLF

�1RGQ�p�NB?F'�*��Y��1RGQ�p� DEB'� mT� D'�`FmBCJO�7eDIOJS

*��qqn1RGOD\ELp� D'�4L@omBDIO?Q?�N?F'�*

..��1RGCI��*�KJF'�:?@OL�<LDJRI���1RGCI�p�OjB�?H?B?CC?Q?�FK'�*�.ZZ�1RGCI�p�NB?F'�*��nw�1RGDI�p�DEB'�*�..�1RIQLp�DGR\COL�*�qZk1R\p�DGR\COL�*�qkq�1@GRIO?�p�H?B'p�W?E'� �/G@OmFDIO?�

D?ECm� k[L�*�.[[p� .[np .Y.p� .YZp.Ynp�.Ywp .nZp�.w�p .wYp .k�p �.k[*�.kwp ��qp����wp��Zkp�ZZ�

�1@GRIO?�p� W?E'� D?ECm� OjBL� �XeBjRLOJ��*�qnZ

�1@GR\C�p�W?E'�D?ECm��XeRLFL��*�.qkp...

1CJ�OGFJW� =JB?DRLF� ��1RGQ�p�1BGDE�p� �XmRJS��p�@LS'p� OjB�<1�4\C��*�.Yp�Zw

1CJ}GCO?p�o?RI�GFJMIOJS�RGSE'�*Zn�

1CELB�?�*�ZkZ11:��*�KJF'�1BQLCmTLMm\�1o�fKCLj

CJH�:LMmS1NmFCJM\p�Q'�CL�/G@OmF}JCm�*�ZZY1NmBp�B'�*��Y�p �nk1NLOLp�D'�*��Yq1BLFWJOp�D'�*��kZ�1BLW��*�KJF'�bLBLoLW�<LDJRI1BQLCmTLMm\� <J}JH� 6R\D� 5OBLj

�CDIOJH��m@CLTmS��1<65���*�q�p�Z

1BQLCmTLMm\� 1o�fKCLCJH� :LMmS�11:��*�ZYZ

1BQLCmTLMm\� 5OBL�CDIOJH� :LMm?jCLRmDEmF� �15:��*qZp�qnp �[p��wpq�np�qZ.pqZkp�.qwp�...p ..�p�.�kp Z[Z

�1BGR�p�OjB�?H?B?CC?Q?�FK'�*�qwn�1BGR�p�OeB�fB�*��Y��1BGR�p�BLS'�*�qn[�1BGR�p� B?S'p� DE'� FmDE'� D?ECm� OjBL

�X?BL��*�.qqp .q.p �.qYp��qYp��Y�p�Yqp ��YYp ��Ynp� �nkp �w.

�1BGR�p�DEB'�*�..�p Z�w�1BGDE�p�@L�mDEGB�*�qnqp��q��1BJD\�p�B?TFmKCJM\�OjBL��d?BC?Q?�

*��q�Y�1BmH�p�B?S'p�W?E'p�H?B'p�D?EGC'�*�KJF'

�eKTJO�<LDJRI�1Bm�?O�p�DE'�FmDE'�*�.[kp ��wp ��w�1Bm�?O�p�DEB'�*�.Yq�1BRLC�p� WRGC�62�*� KJF'� bLRLDL

<LDJRI���1BRGCO?�p�H?B'p�D?E'�FK'��XeRLFL��*

�[�p��Ynp��k[p �kY�1BRJO�p�FmSDIO'�TFGBHCJO�*�.[.�1BRJO�p�DELC'�*�Zw�1BR?FDIOL�?oR'�*�Zn�1B?FGp� D'� _B?Q?oJMIO?Q?� BjCe� �*

�Y�p �nk

[.�

1B?FJSp�RmD�*��Y.p�Z.Y�1BDIOJS�p�W?E'�*�KJF'�6LBFLCDIOJS

_@JEB?��1DmCCmS��*��kY�1DL�p�DEB'�*�.wZ1DFfCMm@p�O?CMELomB�*�Y��1DJN��*�Yw�1DJN��*�KJF'�_eKO?�=JO?RL��1DRLFLp�B'�*�.[Yp .Ywp .nYp �q[p��qnp

�qwp �.�1DRLFJM\p�B'�*�.kk1DRLFJM\p�D'�CL�/G@OmF}JCm�*��qnp

�qwp��..p �Z.�1DRLFJW�p�DE'�FmDE'�*�.[kp .Yn�1D?OL�p�FmDE'�*���w1DEBGp�RmD�CL�4ELB?DL@omB}JCm�*

.qwp .qk�1DEB?FGBH�p�W?E'�*�KJF'�6?C?NLKj

DIOJS�1RGODL��1DEB?@JBL�=LBm\�*�qqp���15:�*� KJF'�1BQLCmTLMm\� 5OBL�Cj

DIOJH�:LMm?CLRmDEmF��1~GRm\�p�Oe}'�NB?F'�T�XmBWLC}JCJ

*���q.

�2LFR?�p�OeR'�D?ECm�OjBL��d?BC?Q?�*��q.�p�q.Y

2LFR?O?@Lp�D'�XGBGTmFDIO?Q?�N?F'�*q�kp�.�n

�2LFeO�p�OjB�D?ECm��XeRLFL��*�.qk�2LFeO�p�OeB'�*�q��2LR?ELp�D'�e�4R?FLWWJCm�*�.kqp �.q�2LRI@L��T�D'�7?D?HLEG�*�Z���2LCJW�p�DLC'�*��Zkp �[q�2LCJW�p�DEB'�*��Z[�2LCCLj0?FDEJS�p�DEB'�*�.w��2LCIO?�0?BoL�� �*�KJF'�4EGoGRIj

DIOJS�4EGNLC���2LCIO?�ABmC��*�KJF'�4EGoGRIDIOJS

4EGNLC���2LD�p�W?E'�FK'��XLDGSC��*��[�p �YYp

�nnp �w.p �wwp��wk�2LD�p�W?E'�D?ECm�OjBL��4ELHL��*�Z�kp

ZqZ�*�ZqYp Z.�p �Z.Zp�Z.kp�Z�Yp Z�kpZY.p ZYYp �ZYkp�Zw�p�ZwZp ZwY

2LDmOJp�NBJDmR?O�D'�5'�*�qk.p�qk�2LDG@O?�>FLC�*�qqp����2LDEGBCLO��*�kw�2LEG~?C�p�W?E'�*�.Y��2LMLRJHL��*�KJF'��6LB@GRUO�p�OjB

528�*��[n2L�?FLp�D'�/mDIO?Q?�N?F'�*�qkkp ��[2fHp�DGR\CJC�*�qZY2GRJNWLO� >FLCOL� ��8BGEL�p� �=mj

B?�OL���*�Ywp ���2GRC\p�D'�CL�/G@OmF}JCm�*�.�p�Z.�2GRC\�p�DEB'�D?ECm�k[L�*�.Yqp��k��2GCI�p�DEB'�*��Z��2GBGoJSCmD�p� QGC'�*�KJF'� bBJMLS

_@JEB?��2GBGF?BDIOp� @'� F� `B?DRLF}JCm�*

q�k�2GBGRGDCJO�p�W?E'�*�..Y2GBG@JDIOL�?oR'�*�qkn2GBG@J�RIp�@'��*�qYp �wp�q�np q.[p

q.np�q�Zp q�wp q�kp q[np qYnp qn�pqn.p�qn�p qw�p qwqp qw�p�qkqp�.�.p.[�p�.[qp���q.p Z��

2GBG@J}JCL�*�qn�*�qkp q�wp q��pqY.p qY�p qnqp qnZp qnkp qkZp .��p.�Yp .�np .[�p�.Yqp .Y.p .n[p�.w[p.wkp�.kZp ���p ��qp �.kp��ZYp��Zkp�[�p �[Zp ��Y�p� �nZp Z��

2GBGCJTJCLp� Q'� F� 4EBmROmFDIO?@eBjCm�*�..w

�2GEBJO�p�DEB'�*�.Yqp���wp �qYp���qpZZ�

�2GEB?�p�BmTIoLB�EGHCmWC?��RLCOJ�*KJF'�dGBG�CI?FDIOJS�=JHLSR?��

�2GE\�p�OjB�?H?B?CC?Q?�FK'�*�.[.2JRLp� D'� 4\CmMIO?Q?� N?F'�*� qk[p

qkkp .ZY�2JBmQ��T�D'�/\HLFL�*�.Z��2JBmQ�p�DEB'�*�qZ�p qZ[p�qw[2JDLBmFMmp�D'�CL�/G@OmF}JCm�*�.wZ2J���GC\p�DGDEBL�=LBm��2J��*�qYp

�np��n�

[.q

2J�� =LBm\p� KBe|JCL� 4EGNLCL4EGoGRIDIO?Q?�*�qZ�*�qYp��Yp��n�p�nq

2mKoe|p� NBJDmR?O� D'� /e|?O� b?jBm�CmS�*��kY

2mKoe|p�D'�CL�_B?Q?oJWWJCm�*�..Z2mKoe|WJCL��*��[k�2mKO?FL�p�DEB'�*��nw�2mKO?FL�p�W?E'�D?ECm�OjBL��A?@J��*

q�np�q..p�q.Y2mKRmDD\p�NBJDmR?O�*�.Zq2mKRJDD\p�NBJDmR?O�*�qY[p�qkn2mKR\��\�*�.qn�2mK?S@L�p�FmDE'�*�Zwn�2mTCJS�p�DEB'�*��..p��k[2mO?RI?p�mELRmfMIp�DEB'�D?ECm��XeRLFL�

*��.�qp .�.�2mR\O�p�DEB'�*��[��2m@DEL�p�DEB'��D?ECm��4eB@L��*�...�2m@DEL�p�B?S'�*��qn�2mDC\�p�D'�*�KJF'�/m@CLp�D'2m��V?DJNp�DGR\CJC�mT�D'�6eTI@JCL

*��Y[p qq�p qqq2RLDEp�E?FLBJDEF?�*�q�p �[p�Z[n2R?DOGp� D'�4EBmROmFDIO?Q?� BjCe�*

.qkp��[qp �[.p �Y.p �YYp Z��2'�=LBeD\p�DGR\COL�T�D'�6eTI@JCL

*��qY�2?ofKC?p� D'� 4\CmMIO?Q?� N?F'�*

.nqp .kY�2?Q?KL�p�o?S?FJO�*�ZwZ2?Q?B|GR�MGp� D'� F�dGH?DR?FLWWJCm

*��.wp�[�2?KmRR\�*�q.p��Zp�Z[n�2?OmBCJS�p� FmDE'p� DEB'� *� qnkp

�YYp Zwn�2?R?FGMI�p�T?BGMI�*��.�2?R?FMmp�D'�4\CmMIO?Q?�N?F'�*���Z2?R?CJCDIOGp� NBJDmR?O� CL� /G@j

OmF}JCm�*��[�2?R?CCLp� D'� CL�/G@OmF}JCm�*� .�p

Zqp�.Yk�*.nqp .n�p .k�p ��qp ��[2?RELF}JCL�*qwp q..p qknp��..qp Z��2?RIDIOJS�dGBF?CJS�ABGDE�*�qn.

2?RI}L�*�q.p q[p qYp �qkp� .�p��..p�Zp��np�qq�p�q�kp�qZ.p q[qp qY.p�qn�p.�.p�.��p�.�kp�.q�p�.�[p�.[�p� .n�p.wwp ���p ��.p��..p���kp �Ywp��YkpZqqp��Z��p ZYZp�Znnp�Zwwp�Zk�p ZkY

2?R\CJ�4eB?FJWCmp�D'�CL�/G@OmF}JCm*��.nqp .k�

2?R\COJp�D'�CL�/G@OmF}JCm�*�.Ynp.kqp ��[

�2?R\CDIOJS�p�W?E'�*�q�n�2?RIDOL�2LBEm\�7?o?ECmWL���227�

*����w2?N?FJWp�DGR\CJC�T�D'�6eTI@JCL��*

qYq2?BL|p�D'�/mDIO?Q?�N?F'�*�.�p�Zqp

.nYp�.w[p �Z[2?B?HCJOp�D'�*�q�k2?DE?RmFp�D'�CL�/G@OmF}JCm�*�.n�2?D\CC\�*�q�wp .�wp .qnp Z[n2?E�WCJS�2GEB?�V'�*�.kp�[q�2?ELN�p�CLKB'�BG~'�*�KJF'��LN�\O

<LDJRI227��*�KJF'��2?RIDOL�2LBEm\�7?j

o?ECmWL�2BLQLp�@'�*�Zqw2BGReOJp�D'�4\CmMIO?Q?�N?F'�*�.Ywp

�qkp��.�p ���p �Z.2BJoJ�mFp�D'�4\CmMIO?Q?�N?F'�*�.n�p

.k�p ��qp Z.q2BJoJ�mFDIOJS�omS�*�.n�2BJoJ�mFDIOJS� RmD�*�.�p� Z.p� .n.p

.kYp���np ZnY�2BJOeS�p�DE'�FmDE'p�oeCW'�FK'�k[L�*

�.Z�2BJOeRI�p� W?E'� /G@OmFDIO?�� D?ECm

k[L�*�.Yqp .Y�2BJDRmNp� D'� CL� /G@OmF}JCm� *

.kqp ����2BJDNmF�p�oeCW'�*�.kwp ��.�p ��[p

�Z�p��Z[p �ZYp �[.2BJ�omFp�D'�CL�/G@OmF}JCm�*�.n��2B?DFmEL�p� E?FLBJDEF?�*� kp� �.p

Ynp .�Zp�.�wp Z.n

[..

2BeDGO� �2BeDfO�p� D'� 7\�mFDIO?Q?F?fF?KDEFL�*� .�p� Z.p� .kYp .knp���p��[Yp Z��

�2ELH��*��nn�2ELHJ�p�BmS�/G@OmFDIO?��D?ECm�k[L

*�ZZ��2eQLW��*�KJF'�6LW?B�<?R?KJ@JB�2eQLW�p�BLS'�CL�/G@OmF}JCm�*�.nqp

Zw�2eRLFJp�D'�4\CmMIO?Q?�N?F'�*�.nqp

.nkp�.k�p �.��2e�OmC�p�DEB'�*�qZ��2WmROL�p�KmFWJCLjN?FDELCGMI�*��Znp

�Zkp�Z���2WmROL�p�DLC'�*��q��2W?RL�p�FmDE'p�DEB'�*��Z[p��Zk2+\EO?FLp�D'�F�XmBWLC}JCm�*�qn�

7LKJ@C?p�@'�*�q�k7LK?�JMmp�D'�CL�/G@OmF}JCm�*�.�p

.n�p .nZ�7LK\CDIOL�5OBL�CL�p�QLT'�*�ZYk�7LK\CDIOG�4R?F?�p�QLT'�*�Zn�7LKI?� 8CKBmS� ��`F?BGCO?��p� OLNGj

RLC�528�*��.��*��.[7LSDIOGp�D'�/mDIO?Q?�N?F'�*��.Z7LSH�*�qYp��w7LO?FLp�D'�4\CmMIO?Q?�N?F'�*�qkk�7LE�p�KjB�CL�/G@OmF}JCm�*�qwqp�.n�p

�q�7LECLFJM\p�D'�CL�/G@OmF}JCm�*�.kY7GoGBGMI� �7GoBGMI�p� NBJDmR?O

D'�/m}LFL�b?Bm�C\�*�q..p .Z�7GF?RUM�SCJS�2B?FmK�*�.wp�[��7GF?RUMJ?CCJS� O?@mEGE� 6?@ej

CmDEmWGDO?S�NLBEm���o?RI�GFmO?F�5OBL�CJ���76�62�o�5��*�q.[

7GfCE�>RIO?p�DGR\CJC�T�D'�6eR\�CG*����k

�7GC�p�OjB�*�KJF'�=mTGBCJS�<LDJRI=LBEJC

�7GC�p�W?E'�*�.��7GNmKIp� D'� 4\CmMIO?Q?� N?F'�*� .n�p

.n[p���kp �q.p ��q

�7JoLO�p�FmDE'�D?ECm�OjBL��X?BL��*�nw

�7JoLO�p�B?S'�*�q�kp qqw�7JoLROL�p�FmDE'�*��qYp �[��7JoLROL�p�D?EGC'�TF�\TO'�*���w�7JoLROL�p�DE'�FmDE'�/G@OmFDIO?��D?ECm

k[L� � *� .q.p� �Y�p� � �Yqp �Y[p�YYp �nYp��k�p� Z�Yp �Z�kp Zq�p ZqnpZqkp Z.�p�Z�Zp�ZZ�p ZZ.p Z[�p Z[kpZYYp�ZYnp�Zn.p� Zn�p ZwY

�7JoJ�p�BmS�/G@OmFDIO?��D?ECm�k[L�*ZZ�

7JoJ�mFp�D'�CL�/G@OmF}JCm�*��q[7JoCGp�D'�CL�/G@OmF}JCm�*�.Y��7Jo?R?F�p�DLC'�*�.wZ�7Jo?R?F�p�DEB'�*�.Yq7Jo?EJWmp�D'�_?oB?@JRIDIO?Q?�N?F'

*��qnp �kp�q[w�7J@��*�KJF'��7?TE?OJp�NBJDmR?O��7J@LCmFp�@'�CL�/G@OmF}JCm�*�.nqp

.n[p .wqp .wY7J@LCmF}JCL�*�Znn7mFCGp�@'�*�.qn7mTKF?��7mTKF\Cm�DF\EL��*�qZ.p qZ�p

qZYp� .Z�p .Zqp .[.p ��[p �Y�p ZYY�7mTeC�p�OjB�*�KJF'�8CKBeD\O�<LDJRI7mWOLp�NBJDmR?O�D'�_?oBL�*�qYwp�.ZY7�NGMIOJS�=?KGDE���b?BJDRLF��p�KjB

*��qnp qkp .�p .kp��wp�Zqp�Z.p�[q76�62�o�5��*�KJF'��7GF?RUMJ?CCJS

O?@mEGE�6?@eCmDEmWGDO?S� NLBEm��o?RI�GFmO?F��5OBL�CJ�

7?oGBGMIp�NBJDmR?O�*�qww�7?oGBE�p�CLKB'�?BQ'�BG~'�*�qwwp .[��7?oGBE�p�NB?F'�*����7?QLEJCp�@'�*�q.p��Zp��YZ7?QLEJC}JCL�*�qZ��7?|L�p�DEB'p�OeR'�*�.Yqp�.wZ7?TNeEE\p�D'�_?oB?@JRIDIO?Q?�N?F'

*��qnqp qn.7?TEmOp�D'�CL�/G@OmF}JCm�*��ZY7?TE?OJ�b?Bm�Cmp�D'�CL�/G@OmF}JCm

*���.n

[.�

7?TE?OJ���7J@��p�NBJDmR?O�CL�/G@jOmF}JCm�*�.wk

7?TE?OJp�D'�CL�/G@OmF}JCm�*�.�p�Z.pqqZp�q.Zp q.Yp�..wp��.np ��Y

�7?OD?R\CL�p�KmFWJCLjN?FDELCGMI�*�Yw7?O�JMmp� D'�2GBG@JDIO?Q?�N?F'�*

qn�p�qwk�7?@LC�p�DEB'�*��nk7?@LCp�o?RI�GFJMIOJS�LQGCE�*��Yq�7?@LC�p�N?@'�BG~'�4X�*��Y��7?@LC�p�NB?F'�CL�4ELB?DL@omB}JCm

*���[k�7?@LC�p�H?B'p�D?E'�*�.��p�.�Zp��YYp

�Ynp��wk�7?@LCWeO�p�Oe}'�*�Z�w�7?@L�O?�p�DEB'�*�qZ�p qZZp�.�n�7?@L�O?�p�OjB�*�.[��7?@O?�p�DEB'�*��qn�7?@O?�p�H?B'�*��YY7?NLp�NBJDmR?O�D'�_?oBL�*��YZ7?NLp�NBJDmR?O�*�Z[w7?NLp�NBJDmR?O�D'�XBJ|LFL�*�qnZp

.�np .�wp .[qp .wk7?NGCIOLp�D'�CL�/G@OmF}JCm�*.�p�Z.7?Dm\�*�Z�[7?D�SDIOJSp�QGC'�@LS?B�=�X�*�.qp

Z�7?D?HLEGp�D'�CL�_B?Q?oJWWJCm��*�Z��7?D?HLWp�D'�*��Yn7?DE?OJp�D'�CL�/G@OmF}JCm�*��qY�7eoLC�p�W?E'�*�Z�w�7eoLCI�p� B?S'p� DE'� FmDE'� NFK'� OjBL

�0LBLDOL��*��[�p��[Z�7eoLCI�p�W?E'�*��Y��7eoLW�p�W?E'�*��kw�7eKJS��*�qkqp qk.�7eKJS��mT�D'�/'�*�wkp qqn�7eKJS�p� FmDE'� D?ECm� OjBL� �6LBj

@GRUOL��*��[�p�Z���7eKJS�p�BG~'�4X�*�qwn7eDmWOLp�NBJDmR?O�*�qYw�7eDLROL�p�RLCO'�*�.wZ7eDEJOLRICLp�D'�4\CmMIO?Q?�N?F'�*

qYw

7eDIOGp�D'�/mDIO?Q?�N?F'�*����p ��n7\oGp�D'�/mDIO?Q?�N?F'�*���[�7\DE�p�DLC'�*�.wY7\�mFp�@'�*�q�Zp q�kp qn[p �q[

4LomC?Fp�RGSE'�=<_�*�ZYk4LoeB?Fp�QGC'�@LS'�=<_�*��kq�4LFOL�p�DE'�FmDE'�*��kn4LFWJC�=LBm\� ��=LBmWOL���*� q[p

qwp .Yp �np��kp�Zwp�qnnp .Y�p �nn�4LSQ?B�p�BLS'�BG~'�4X�*��[kp��Y�p

�nnp��nkp�Zn��4L@mECJS�p�DEB'�*�ZwZ4L@omBp�@'�*�q.p [�p �[Zp [Y�*�[wp

.�Zp�.�[p�.qnp�...p �Yq4L@omB}JCL�*�qq�*�q�p����*��[p

.[Zp��[�p Z�n�4L@o�BDIO��<mDEm�p�QLT'�*�q.p��Z4L@o�BDIOL�EUB@L�*�qZp��[4L@o�BDIOL�5WJEGRIDIOL�4G@mCLBm\

*��q.p��Z4L@o�BDIOJS�N?FmE�*�q.p��Z4L@??o?B?CCm�Oe}?Fm�FmKKmRJ��46<�

*�qwp �kp�kwp qqqp q�wp qZYp�q[.pq[Zp�q[[p q[np�qY�p qY�p qYZp�qYY�*qYkp� qnqp� qn�p� qnZp qw[p� qwYpqkqp qk�p�.Z.p�.Zwp .[�p .[q

4X��*�KJF'�4Re|oL�XGTNGOJ�15:4FfBWGFDIOJS�6LB?RIp�QGC'�<2p�FmMGj

@mCmDEB� ?o?B?CJ�2?RI}m�*�.�p.qp Zq�*�Z�p���qw�*��..p��.np �.kp�Zkp �Yqp �Ykp� �w�p �kZp� ZwwpZk�p ZkY

4FJKCJOp� D'� 0eBOmFDIO?Q?� BjCe�*..[p ..n

�4F?o?KL�p�QLT'�e�4a8�*�Z.�4F\EjFGWmB�*�ZZZp Z[�p Z[.p Z[[4GRJDIOLp�D'�XGBGTmFDIO?Q?�N?F'�*

qn�4G@JQJCmF� �4G@GQGCmF�p� D'� 4O?j

RmFDIO?Q?�BjCe�*�.�.�4G@OmF�p�OjB�D?ECm��XeRLFL��*�..[p

..w�*�.�q

[.Z

4G@e�?FLp�D'�4\CmMIO?Q?�N?F'�*�qwwpqk[p qkk

4GCWJ�JC�8CKBmS���6RJ@��p�DEB'�*.qp�Z.

4GBGKCf�<GRJOGp�D'�/mDIO?Q?�N?F'�*.�p�Z.p�.[[p .nnp .w.p .wkp�.k�p�.knp�Z�p��Z[p �kZp �kYp �kwp ZYn

4GBGKCfp�D'�CL�/G@OmF}JCm�*�.w�p.kwp ��Y

4GBGKCJM\p�D'�/mDIO?Q?�N?F'�*�qkk�4GBCL�p�DEB'�T�BLS?Ce��4?O?RL��*

qn[4JomB�*�Y�p wkp�.nZp �nkp Z��p�Z�kp

ZqYp Zqkp ZZ�p Z[�p ZYw4J@?FJM\p�NBJDmR?O�D'�_?oBL�*qYwp

.ZY�4JCmS�p�B?S'�*�q�np qqkp q.�p q.Y4JCGFmKDIO?�<J|Cfp�D'�4O?RmFDIO?Q?

BjCe�*��nnp �nk4JCGFmKDIO?p� D'�4O?RmFDIO?Q?� BjCe

*���[kp �Y��4JB?EUO�p�B?S'�*��k[�4JW�p�FmDE'�*��Zk�4JW�p�BG~'�4X�*�qZkp�qw[�4JW�p�DEB'�*��Z[�4mBL�p�N?FDELCGMI�*�Yn�4mBJS�p�FmDE'p�DEB'�D?ECm�OjBL��6LBj

@GRUOL��*��[�p��nnp �wZp��wwp�Z��pZ�wp��Z�kp Zq[p Z..�*�Z.Zp�Z��p�Z�YpZY�p ZwY

�4mBJS�p�DE'�FmDE'�*�Zn.�4mBO?�p�Oe}'�46<�*�qYwp��q��4mBO?�p�W?E'�*�..Zp .ZY�4mMmRm\����4JMJRm\���*��YYp�Z�w4OmRIDIOm�RmDJ�*��[k4OmBOL�8CCL���_?BL��p�DLC'�*�Yw�4OLOeC�p�DEB'�T�D'�<GERJCL�*��.�4OLRLp�@'�*���w�4OLRL�p�N?B'�*�q�n�4OLRL�p�DLC'��*�KJF'�beO�X?QKLC�4OLRL�p�DEB'�*�.�.p .Yqp .wY46<�*�KJF'�4L@??o?B?CCm�Oe}?Fm

FmKKmRJ��

4O?RGp�@'�*��nw4OBGCO?FDIOJSp�N?R\Op�oLCKJE�*qZ��4OBJEJS�p�BLS'�Q?DN'�*�.YYp��.Y�4OeDL�p�DEB'�*�.wZ�4RmNJS��mT�D'�/'�*�wk�4RLFO?�p�FmDE'�*���w�4RLFO?�p�TF�\TOmFGMI�*��nw�4RLFO?jaNB?EL�p�FmDE'�*�.wY4RLFDIOJS�BjC�*�Zqk4RLF}JCL�*��Yn�4RfNJS�p�N?RIDIOJS�o?�FOLBp�o?RIj

�GFJMIOJS�NLBEJTLC�*�qZYp�qZkpq[�p�qY.p�qYYp�qYnp�.ZZ

�4RJFOL�p�FmDE'p�DEB'�*�.[kp �.Yqp�.Ywp.wZp���w

4RJF+\Op� DGR\CJC� T� D'�:?F?DGRJMm6?TJMIOm�*�Y�

�4R?FLO�p�DEB'�*�.[.4R?FLWWJCL�*�.��p .�Yp .Ynp .Yk�*

.nqp .wwp .kqp ��qp �.qp ��qp� ��.p��Yp ��np �[Zp Znn

4Re|oL� XGTNGOJ� 15:� �4X�� *.qkp .�Zp� .[�p .[�p ��kp �.qp�[Yp �[np��[wp��Yqp Z�Zp �Z.�p �Z[w

�4Re|oL�?HB?CJ�O?RfS?FGS���416�*����p �qqp �q[p �qw

4@mRICJOp� D'�/mDIO?Q?�N?F'�*�.wkp.k[p ��[

4@GBGWOJp�D'�*��[q�4@GELCL�p�DE'�FmDE'�*��q��4@?O�p�FmDE'p�DEB'�*�.Yqp �Z�p �Z[p��Zk4@?RJWp�o?RI�GFJMIOJS�|eBCLRmDE

*��ZYk�4CmQeB�p�FmDE'�*�ZwZ�4?FL�p�OeR'�D?ECm�OjBL��A?@J��*qqnp

.Yqp .k[p �qYp ��w�4?FL�p�DEB'�T�bLRJWJCJ�*�q.[p�q.Y�4?FL�p�W?E'�*��k�4?FQLC� `B?DRLF� ��:GHBJDE�p� �=Lj

�mDEGB�p��_LB��p�~LB@'�5dA�*�qnqpqw�p�qkn

4?K?RI�2GEB?p�@LS'�*�.np�Zk�4?SOL�p�FmDE'p�DEB'�*�.wnp��Y�p��nk

[.[

416� �*� KJF'� �4Re|oL� ?HB?CJO?RfS?FGS�

�4?OmR�p�OjB�?H?B?CC?Q?�FK'�*�qwn�4?OmR�p�O?@'�2�p�DE'�FmDE'�*�.[kp

.Ywp� ��wp� ��kp� �..p �.np� �Z�p�Z[p �[.

�4?OmR�p�OeB�fB�*�ZwZ�4?OmR�p�BLS'�*�qn[�4?OmR�p�B?S'�D?ECm�OjBL��XeB?Q?��*

qk[�4?OmR�p�DLC'�mT�D'�=LR\FL�*�qkY�4?OmR�p�DEB'p�W?E'�D?ECm�OjBL��bB?j

@GCOL��*�qY�p�qYZp�qk��4?OmR�p�E?FLBJDEF?�*�q�p�qZp��[p�Z[n�4?O?RGCO?�p�DELC'�*�Z�w4?RJCp�D'�CL�/G@OmF}JCm�*�.[k4?RJCOLp�B'�*���[4?RJCOLp�D'�/mDIO?Q?�N?F'�*�.kqp��.n�4?RJCOL�p�DEB'�*�.wZ�4?R?FmS�p�oeCW'�*��.��4?R?FmS�p�DEB'�*�.n�4?R?FOJ�*�Y��4?R?@OL�p�NFH'�D?ECm�OjBL��4ELHL�

*���qqp �Z�p �[.�4?REJD��*�q[[�4?R\COL�p�D'�*�KJF'�/\HLFLp�D'���4?@�p�DEB'�W?EJ��ABmCL��*�q�.�4?C��mT�D'�6'�*�wk4?C\p�DGR\COL�*�kq4?N?ECJMIOL� 0'p� o?RI�GFJMIOL

LQGCEOL�*�Z�Z�4?B?OL�p�DEB'�*�.w��4?B?OLEJS�� T� /G@OmF}JCJ� *

qZ�p qZq�4?B?OLEJS�p�Oe}'�*�.�qp .�kp��Z.p

�Z�p �Z[4?B?WLO� <?R?KJ@JB� ��<?B?C�p

�XGBOeE��p�D?EGC'p�OjB�.w�0<�528*��.[q�*�.[�

�4?DCL�p�OeR'�*��qY�4?DCL�p�Oe}'�Q?DN'�*�.�.4?DCJCLp�RmD�e�4EBmROmFDIO?@e�BjCm

*���[.

�4?~�\�p�N?F'�5dA�*�KJF'�4ELCIO?4EG~L

�4?UT�7LK\CDIOJH�4?MmLRmDEJWCJH7GDNeoRmO���4747��*�qYp qnp��w

�4?UT�4?FfEDIOJH�4?MmLRmDEJWCJH7GDNeoRmO�� �4447��*Y�p .[kp�nZp��n[p Zq�p�Zqnp�Z.qp Z�np ZYZpZY[p�ZYkp Znnp Zwwp�ZkYp Zkn

�4NLBELO�p�FmDE'�*��Y�p�Z�wp Z�kp�Z[kpZY.p ZYYp Zn.p ZwY

�4NLBELO�p�BG~'�4X�*��nk�4N?@JCJ� W?E?F?Q?�1DEB?FGBHL�p

DN?QLKJjHB?CmOL�*�kp .�np ZkY4NBJCDIOm�RmDJ�*��Yqp �w�4NBJC\p�D'�4L@omBDIO?Q?�N?F'�*�..qp

..Zp ..[p �Yqp �nw4747� �*� KJF'� �4?UT� 7LK\CDIOJH

4?MmLRmDEJWCJH� 7GDNeoRmO�4447�*� KJF'� �4?UT�4?FfEDIOJH

4?MmLRmDEJWCJH� 7GDNeoRmO�4ELRmC�V'�*nwp���wp�Zq�p Zqn�*Zqkp�Z�k4ELCJDRLFmF��>FLC?j�BLCOmFDIO�p�@'

*��.qn4ELCIO?�4EG~L���4?~m\��p�N?F'�5dA

2GBG@J}JCJ�*� qnp� qwp �kp� Ynpq.Zp�q.n�*�q��p q�.p�q�[p�q�Yp qw.pqw�p�Z�Z

4ELCIO?FLp�D'�*�.[.4ELBL�4mRIp� D'� 4ELB?DL@omBDIO?Q?

BjCe�*��[wp �[kp �nY4ELBL�4�RIp�D'�CL�/G@OmF}JCm�*�.qp

Z�p�Zk4ELBJS�=�TeCIp�D'�*�Zkq�4ELBJS�p�NB?F'�NmKNmRR\�*�qY[p qkYp

.[.4ELBJS�4L@omBp�@'�*�...p Z�[4ELB?DL@omB}JCL�*�.�Zp �[k4ELBeH�̀ B?DRLFp�6BLfFJS�NB?FmKCJO

PLOGBT?CC\�*�qqp����4ELH�p�N?B'p�OjB�D?ECm�k[L�m�k[o�*

.�p�.qp Z.p�Z�p�Zkp�.Y�p�.YZp .n.p

.n[p .w[p�.wYp�.k�p� .kYp� .knp�.kkp��qp��q[p��qYp���qp����Zp����wp��ZZp

[.Y

�Znp���[kp��Ynp��n[p��nYp��knp��kkpZq.p�Zq�p�ZYwp��Znkp� Zwqp �ZwZ

4EL�O?p�@eTJOLCE�*�qZ.p�qYq4EGoGRIDIOLj_LCJRmF� :LELROLp

DGDEBL�4EGNLCL�4EGoGRIDIO?Q?�*q.p��Zp�[np�.�[p ZZk

4EGoGRIDIOLj6?FLRIWeO�8CCLj�BJCLpDGDEBL�4EGNLCL�4EGoGRIDIO?Q?�*q.p q[p qYp .kp �Zp��Yp�[np .�[p ZZk

4EGoGRIDIOLj=\CO?FDIOL�=LB�\pDGDEBL�4EGNLCL�4EGoGRIDIO?Q?�*q.p��Zp�Zk�

4EGoGRIDIOL� 4?~m\p� KBe|JCL� 7?j@LCL�4EGoGRIDIO?Q?�*�Zkq��

4EGoGRIDIOLj1FGBO?� cRG?C?BL�/mR\�p� K?CIOL� 4EGNLCL� 4EGjoGRIDIO?Q?�*�qZp�q[p�qwp .wp� �Yp�np��kp�[�p�YZp Y[p�q..p qY�p�qkkp�.[[p�nqp�ZZn�*�ZZkp�Z[.p Zwkp�Zk.p ZkZpZk[

4EGoGRIDIOLj2mH�<?R?KJ@JBLp�K?CIjOL�4EGNLCL�4EGoGRIDIO?Q?��*�q[p�Y

4EGoGRIDIOJS�X?QKLCp�oBLE�4EGNLCL4EGoGRIDIO?Q?�*�q.�*�qYp ��Zp�[p�[�p�[�p�[Zp�[np Zk�p Zk�p ZkZ

4EGoGRIDIOJS� <?R?KJ@JBp� oBLE4EGNLCL�4EGoGRIDIO?Q?�*�q.p�qZp�Zp��Yp�[wp .�[p Zkq

4EGoGRIDIOJS�>FLC�*�qYp��w4EGoGRIDIOJS�>RR\p�oLEIO?�4EGNLCL

4EGoGRIDIO?Q?��*�q.p�q�p �Zp�[Zp[[p�.�[p Zkq

4EGoGRIDIOJS�2LFR?p�NBLKmK�4EGNLCL4EGoGRIDIO?Q?�*�q.p��Z

4EGoGRIDIOJS�7?@LCp�oBLE�4EGNLCL4EGoGRIDIO?Q?�*q.pq�p��Zp�[npZkq

4EGoGRIDIOJS� 4EGNLC� ��ABmC�p�bBJCI�p��2LCIO?�ABmC�p��2LCIO?0?BoL�p� �X?B}��p� D?EGC'p� OjB� .Z0<�528�*�k�*�.qp .��*�.kp ��q*�ZZp�ZY�*�[qp�[.p [Z�*[kp Ynp wwpq��p qqwp q.[p �q.np�q�qp�q[�p�qwkp

.�.�*�.�Yp�.�kp�.qqp�.q.p�.qYp .�Yp

.�wp�.�kp�.Z.p .Z�p�.Z[�*�.[[p .[wp

.[kp�.YZp �.YYp �.Ykp �.nqp�.w.p�.wZ*.wYp� .wwp� .k.p� .kZp� .k[p� ��qp��Zp ��n�*� �qqp� �q�p �qYp� �..p�.Zp �.Yp� �.wp� ��qp� ��wp � �Zqp�ZZp �Znp��[�p �[Zp���[np �[kp �Yqp�YYp��Ywp��n��*��n�p��nwp ZqYp Z[npZ[wp� Zwqp� Zww�*� Zk�p Zk�p � ZkZpZknp Zkw

4EGoGRIDIOJS� 0LBLDp� NBLFCeO� >RRm4EGoGRIDIO?Q?�*�Zkq

4EGoGRIDIOJS�0G?K?Bp�KmK�4EGNLCL4EGoGRIDIO?Q?�*�q.p��Z

4EGoGRIDIOmp�B?KJCL�*�q�p .wp��Zp�[�4EG|CJM\p�D'�/mDIO?Q?�N?F'�*�q�p��.p

.Y[p�Z�[p ZZYp�Zwk�4EGN?FL��*�KJF'�6mEOm�O?�=LBm\���4EGN?FJO�p�o?S?FJO�*��[�p��YYp ZwZ4EG~Lp�DGR\COL�*�q��4EG~O?FLp�D'�/mDIO?Q?�N?F'�*�qkk�4EG~eBL�p� DGR\CJC� T� D'� <?R\

2GEB?FL�*�.k�4EGMI�=JHLSR?p�DGR\CJC�T�D'�6eTIj

@JCL�*�qq��4EJB�p�Oe}'�Q?DN'�*��Zk4E?RGMIp�RmD�*��wwp Z.Y4E?B?|m�<GRJOmp� D'�CL�/G@OmF}JCm

*��.n�4E?B?|m�=LRmp�D'�CL�/G@OmF}JCm�*

.n�4E?B?CCLp� D'�2mKoeTIO?Q?� BjCe�*

..�p ..Zp .��4EBL�GFJWmp� D'�4ELB?DL@omBDIO?Q?

BjCe�*�Z��4EBJ|mFp�@'�*�.�w4EBJSp�B'�*�..Y�*�..wp �Y�p��nnp �nk�4EBJSDIOJS��*�..w4EBJS}JCL�*�..�p ..�p Zk[�4EBJO�p�OjB�*�.[q�4EBmRL�p�DE'�FmDE'�*��Y�p��nk�4EBmRGMI�p�DLC'�*�qqZp qqk4EBmROmFDIOJS�BjC�*�.q�

[.n

4EBmROJp� D'� 0eBOmFDIO?Q?� BjCe�*..qp ...

4EBmRIoJWmp� D'� 4ELB?DL@omBDIO?Q?BjCe�*�.q[p �[w

4EBeo?FJDIOLp� D'� /mDIO?Q?� N?F'�*.kqp �.�p ���p ��Y

�4EBeK�p�DEB'�*��Z[4EeN?D\Cp�D'�/mDIO?Q?�N?F'�*��[��4E}GRIMJ�p� N?RIDIOm� o?�FOLBDIOm

DELCJMm�*�qq�45P��*�KJF'�4HmKCm�5OBL�CDIOm�PG@Rm�4eO�p�B?S'�*��..4eO?FLEGp�NBJDmR?O�D'�6LRICJM\�*

.wq4eO?FLEGp� D'�/mDIO?Q?�N?F'�*�.wkp

���p ��qp ��Yp �qnp �Z[p �ZY�4eB@L�p� D?EC\� � 528�*� .qkp� ...p

..�p ..[4eB?FJM\p�D'�CL�/G@OmF}JCm�*�.nqp

.wqp .wY4eHm�7mOJp�D'�F�4\CmWWJCm�*��[��4eHJS�p� D?EGC'�*� KJF'� 6?MI?R?O

`B?DRLF��4HmKCL�/G@OmF}JCL�*�.[n4HmKCm� 5OBL�CDIOm� PG@Rm� �45P��*

wZp wwp � kkp q�qp� q�[p q[wp� q[k..qp .k[p �[Z

4a8�*�Z.�p Z�np ZYZp ZY[p Zkk4UBBGSp�@'�F�XBJEmSDIOmS�6?Re@om�p

6LCLKL�*�q.p��Z�4\C�p�<?fCCL�1OBeQL��*�qqp�.Yp���p

Zwp��Yw�4\C�p�OeR'�*�.wZp �Z�4\Cp�B'�*�q�kp q[np qYn�*�qYkp�qn�p

qk.p .��p .�wp .��p� .�[�*� .�np.�kp .ZZp .ZYp .Znp�.[�p .[qp�.n�p.kqp��.kp �Z[p ��[�p��n[p�Z�[p ZY�

�4\C�p�DEB'�*��k[4\CmO��4\C?O�p��@'�*�.�p Zqp�Z.p�Yqp

q�wp�q[np�qY.p qYnp�qn.p qn�p .�.p.[�p .[�p�.n�p��.nn�*�.nkp .wZp .wnp.wwp�.kqp .knp���Zp ��Yp �q�p �q.p�q[p �qYp��qwp��.kp �Zkp �[Yp ZZZ

4\CmW?Op�D'�CL�/G@OmF}JCm�*�.Ywp.kqp�.k�p .kY

4\CmWWJCL��*�qkp�Z.p�qnwp .Y.4\C�MIOJS�N?F'�*�.�p�Z.4\COJp�D'�X?BJCDIO?Q?�BjCe�*�.�p Z.p

�n[�4\C?FJS�p�BLS'�NB?F'�*����p�Zw�

�0L@LBL�p�Oe}'�Q?DN'�CL�/G@OmF}JCm*��Z��

�0LBLD��*�KJF'�6LFeRL�2GEB?�0LBLD�p�OjB�*�qnq�0LBLD�p� NFH'� D?ECm� OjBL� �X?BL��*

q�Yp q�np qZ.p��Ynp��k[�0LBLDO?�p�OjB�FK'�528p�DE'�oeR'�*

�[.p��[�p �[[p ��Yqp �Y�p� �YYp ��wqp�wwp��kYp �kwp Z�[p�Z..p�Z�n

0LBCLFL�:J|C\p�D'�F�4\CmWWJCm*qnw0LBCLFLp�D'�CL�/G@OmF}JCm�*�.[Yp

.n�p�.w.p .w[p .kq0LBCLFOLp�D'�AJBmFDIO?Q?�BjCe�*��[w0LELBJ��EGNGB�PLRe|LCJ�p�D'�CL�>FLC?j

�BLCOmF}JCm�*�q.p��Zp�.��0FGBK?HR�o�=JO?RL���bBm@��p�OjB�<1

�b?FGBR\��*�.qp�Z�0F?BJRICGp� D'� /mDIO?Q?� N?F'� *

qnwp �.Y0GoG�GFDIOL�1ODLCL�*�q�p��Z0GRGNmFMmp�D'�e�4R?FLWWJCm�*�.kq�0GBOL�p�o?S?FJO�*��[Y0GBOLp�D'�/mDIO?Q?�N?F'�*�.Y.p ZZk0GBC?NmRI}JCL�*�..k�0GE\CL�p� FmDE'� *� KJF'� dGBG�j

CI?FDIOL�8CCL���0GE\CL�p�BLS'�BG~'�41�*���Yp��Zk�0JQB�p�oeCW'�*�Z���0JQBJD�p� oeCW'� D?ECm� OjBL� �6LBj

@GRUOL��*��[�0JR\FLp� D'� CL� /G@OmF}JCm�*� ��qp

��.p ��Z0J@?WO?j6L@mCDIOL� >BJCL� ��ABJDj

E\��p�CLKB'�NB?F'�*�qwnp�.[�p .Y�p.n�p�.kZp ���

[.w

�0J@?��p�BG~'�4X�*��[w�0JBDL�p�DEB'�*�ZZ��0JBDL�p��OmRICJS�E?FLBJ���ABmCL��*

k[0JB\FLp�D'�CL�/G@OmF}JCm�*�qn.p .[�0JDO?FLp�D'�/mDIO?Q?�N?F'�*���[0JD?FLp�D'�2GBG@JDIO?Q?�N?F'�*�qn[0JD?FGMIp�D'�CL�/G@OmF}JCm�*���q�0JEeD�p�NmKNmRICJO�*�YYp nqp wZp w[0mDCLp� D'� /mDIO?Q?� N?F'�*� qkp� .�p

.w�p �qZp��qnp �qwp ���p ��Yp �Zqp�Z[p �kZ

0mE?p�KJOELE?B��Q?DRLFm��*�.wn�0mE?�p�B?S'�*�.wYp .wn0?FLBCJMIOJS�=JHLSR?� ��bBLo��p

Oe}'�46<p�DGR\CJC�T�D'�/m}LFLb?Bm�C\�*�kZp�q�Zp�qZ[p�.Z�

�0?FDEJS�p�B?S'�*��[�0?@L��FM�p�D'�*�q.p��Z�0?N?R\��*� KJF'� XLW?FDIOJS� <?j

R?KJ@JB���0?N?R\��*�KJF'�6?C?NLKDIOJS�1RGODL�0?N?R\��T�D'�/'�*�q[k�0?N?R\�p�DEB'�*�.wZ0?B?CE?p� @'� F�1CELBm?p�6LCLKL�*

qqp q.p q�p ��p��Zp�Zk�0?B?CE?CDIOJS�eCmFGBDJEGE�*q[p��Y0?�mFp�RmD�omR\�D'�0eB�f�*�.qZ�0BLFJ�p�BmS�/G@OmFDIO?��D?ECm�k[L

*�ZZ�0BGCJWCmFp�D'�@m|�D'�0eB�f�m�4FJKCJO

*��..Y�0BJOeECJO�p� DHmKCL� WLDEJCL�/G@j

OmF}JCJ���@m|�B'�4\Cp�HBGoE?@XGDOJKe�EL�B'�<?R?DLEOL��*�qZwp.n[p����[p �..p �.Zp �kZp ZnY

0BmSM\p�D'�_?oB?@JRIDIO?Q?�N?F'�*qkwp .�n

0B?DE\CGMIp� D'� _?oB?@JRIDIO?Q?N?F'�*�kkp qq�p qqwp qYkp qk�p�.�n

0BeDOLFGMIp� @'� � _B?Q?oJMIO?Q?BjCe�*��Yqp��w�

�0BeE�p�FmDE'p�DEB'�*��ZYp���Zk

�0eQLS�p�DEB'�*�.Yq�0eBjX?K\O�p�DEB'�*�.wZ0eB+fp�D'�4EBmROmFDIO?Q?�BjCe�*��YY0eB+fp�D'�0eBOmFDIO?Q?�BjCe�*�.qZp

..�p ..Yp ..w0eBJCDIOGp� D'� 4\CmMIO?Q?� N?F'�*

�q�p��qkp ���p �[Y0eBOLp�D'�_B?Q?oJMIO?���/IFmFDIO?��

?oR'�*�.qp�Z�p�...0eBCJM\p� RmD?FJS�@LDJF� CGKLRGO?

_?oB?@JR\�*�kkp�.�n0eB\CDIOJS�<'p�NJDI@GCCJO�*�Z.n0eH?RIOLp�D'�4RLFDIO?Q?�BjCe�*��kZp

Z�Z0H?BJO�2GEB?���<?B?oGMI���*.qp�Z.

�5oJW�p�OeR'�*�.nnp .k�p .kZ5X2��*�KJF'��5|?CK�XGTNGWGCIDEFL

2eoRmWCG�?�5<1��*�KJF'�5OBL�CDIOL�<mSDIO?FL

1BQLCmTLMm\5b8��*�KJF'�5OBL�CDIOL�bLRJMIOL

8B@m\5b<7�*�KJF'���5OBL�CDIOL�b?R?FCL

<JTF?RICL�7LKL���5KLBCJO�p�BLS'�NB?F'�CL�/G@OmF}JCm

.[w�*�.Y�p���[p�Zw��5|�p�FmDE'p�DEB'�D?ECm�k[L��.qYp��k��5|?CK�XGTNfWGCIDEFL�2eoRmWCG�?�

�5X2p� 52X��*qn�p .nqp� .nZ�*.nYp��q[

5OBL�CL�*�qqp q�p .Y�*�.wp ��p��ZpZZp�Zw�*�[�p�Y�p Yqp�YZp�nwp� wnpqqYp q.npq.kp�qZqp�qZ[pqZnp�q[[p .��p.��p�.�wp .q�p .q.p�.qYp�.qnp�..[p.�qp .�.p .�Z�*.�Yp� .�wp .�kp.Zqp .Znp .Zkp�.YZp�.Y[p .nqp .wwp�q.p �.�p� �.Zp� �.[p� ��.p� �Zqp�Z�p �ZZp��ZYp �Znp��Zkp �[q�*��[�p�[[p �[Yp �[wp� �Y�p �Y.*�YZp�n[p �nYp��nwp��wkp��k.p��kZp��k[p�kwp Zq�p� Zqwp� Z.qp� Z.[p Z.wp

[.k

ZZ�p ZZkp�Z[�p�Z[Zp�Znqp�ZnZp�ZnYpZwYp Zwwp�Zwkp�Zkqp�ZkYp�Zknp Zkk

5OBL�CDIOL� <mSDIO?FL�1BQLCmTLMm\�5<1��*�q�p��Zp�.�k

5OBL�CDIOL�bLRJMIOL�8B@m\��5b8��*Z[n

5OBL�CDIOL�b?R?FCL�<JTF?RICL�7LKL�5b<7��*�.qp .wp Z�p�[�p�...p�.�kp�YZp��n[p �nwp Z[Zp ZnZp Znn

5OBL�CDIOL�:LB?KCL�4L@??o?B?CL�5:4��*�.�[p �w�p Z��

5OBL�CDIOL� 2?FDELCDIOL� 8B@m\�528�*k�*qqp q�p qYp qnp�qkp .�p..p .Y�*�.wp �q�*���p��kp�Zq�*ZZp� ZYp� [�p� [.p [kp Yqp Y.p� Y�pYYp Ywp k[p kwp q�Zp q�w�*� qq�pq.npq��pq�[pq�wpqZwpq[wpqY.pqYnpqn�p�qnqp qn[�*�qnnp�qwYp qwnp�qk�pqknp�qkkp�.��p .�.p�.��p�.�w�*�.q�p.q.p .qZp� .q[p .qn�*...p� ..Yp..np .�qp.�[p�.[[p�.[wp .Y[p�.n�p�.nZp.wnp ���p��qqp��q.p �.�p��.[p���Zp�Z�p��[�*�[[p �Y�p��Yqp��YZp��Y[p�Ywp��Ykp��nZp��n[p �nwp��wwp��k.p�kYp Z��p�Z�.p�Z��p�Zq.p�Z.kp�Z�ZpZZwp Z[Zp�Z[wp ZY�p�ZYZp�Znqp�ZnZpZw.p�Zwwp�ZkZ*Zkw

5OBL�CDIOL� 4L@?DEmSCL� 4?o?BCL_GB|LFL� �544_��*� ..qp �nZp�n[p Z�[

�5OBL�CDIOL�4?FfEDIOL�4?MmLRmDEWCL7GDNeoRmOL���5447�*Znnp�Zknp�Zkw

5OBL�CDIOG� 1DFmECf� 0?FLBJDEF?�510��*�Z�[

�5OBL�CDIOG�4R?F?�p�o?RI�GFJMIOLQLT'�e�6LCLKm�*�Z.�

�5OBL�CDIOJS� b?R?D�p� QLT'� F�2GBGj@J�Rm�*�k[

�5OBL�CDIOJS� NJDI@GCCJO�p� FJjKLFCJMEF?�*�qqp���

�5OBL�CDIOJS�4L@?DE�SCJO�p�|eBC'*��qnp�qkp��wp�Z.

5OBL�CDIOJS�dGBF?CJS�ABGDE��5dA�*�q�p��.p��kp�qwY

5RUWp� D'� CL� /G@OmF}JCm*qn�p.�np .Zw

�5R\CL�p� KmFWJCLjN?FDELCGMI*qknpqkw

�5R\CL�p�DLC'�*�qwY5:4�*� KJF'� 5OBL�CDIOL�:LB?KCL

4L@??o?B?CL�510�*� KJF'� 5OBL�CDIOG�1DFmECf

0?FLBJDEF?��528� *� KJF'� 5OBL�CDIOL� 2?Fj

DELCDIOL�8B@m\� �528jPLHmK�*�.Yp�Zwp�Zkp��[Zp� �nZp

�kYp Z��5BoLC��BO?p�K?C?}JO�*��q.5BJWp�D'�4O?RmFDIO?Q?�BjCe�*��Y�544_�*� KJF'� 5OBL�CDIOL� 4L@?j

DEmSCL�4?o?BCL�_GB|LFL5447�*� KJF'� �5OBL�CDIOL�4?FfEj

DIOL�4?MmLRmDEJWCL�7GDNeoRmOL�5DEBmOJ� b?Bm�Cmp� D'� _B?Q?oJMIO?�

?oR'�*���Y5DEBmOJp� D'� _B?Q?oJMIO?�� ?oR'�*

.�[p�Z�Z5dA�*�KJF'�5OBL�CDIOJS�dGBF?CJS

ABGDE�

�LSEJDOLp�NBJDmR?O�D'�̀ FmBCJO�*��qn�GK?BOGFJW�?'p�DF\}GCJO�T�D'�/m}LFL

b?Bm�C\�*�.Zq�GKeOGFJWp�?'�*�qZp��Y�GKIO?p�DGR\CJC�T�D'�7'�*�w.�GCI?�>FLCp�K?C?}JO�mT�D'�6eR\�CG

*���q.�GDI?Q?�8CCLp�DGR\COL�T�D'�=LCmF

*���qn�mRI� `B?DRLFL� ��=LBEL��p� @L�'�*

.[�p��.Zp �.Yp��Zkp��[�p Z�qp�Z�.�mCR\CKm\�*ZY[�BLCMm\�*ZY[�BGKB?N?RIp�@'�*qw���BJTmfB�p�NLBL�eEJDE�*q.�

[��

ALReNOJp�NBJDmR?O�D'�6eTI@JCL�*qn�

ALReNOJp�D'�AJBmFDIO?Q?�BjCe�*�.�nALBOmFp�@'�*�kYp�..�ALBOmF}JCL�*�.�np �YZALEJCIp�D'�F�XmR?BeDm�*�Y�AL}mFp�D'�0eBOmFDIO?Q?�BjCe�*��[qAJ|OJp�Q'�*���wAJ@OL�PGCL���P?\���*�YnAJBmFp�@'�_?oB?@JRIDIO?Q?�N?F'�*

Yqp qnnp .�nAJBmF}JCL�*��[w�AJEBJS�p� B?S'� DE'� FmDE'� *� .[�p

.w.p .kkp ��Zp ��wp ��kp��[��AJEB?RJD�p�OjB�*�.wZ�AJEB?RJD�p�DE'�FmDE'�*�ZnY�A@LBL�p�DEB'�*�..Y�A@GRI��*�.qkA@GRICJMIO?Q?�m@'p�D?EC\�*�Z���A@mRI�p�FmDE'�*��Y.�A@eB?FJW� 1DELN��*� KJF'� 4EGj

oGRIDIOJS�X?QKLC��A?R@}JCL�*�.qn�A?R?KCJS��mT�D'�2LFR?O?@L�*�.�n�A?R?KCJS� `B�p� OCJ|OL� LFE'� b?Bj

DIO?Q?�*�.�k�A?R?KCJS�`B�p�:LKBLS?C�*�qwp��kp

Z�p�q�qp .�[p .[�p ZqqA?@L� <?R?KJ@JB� ��6LBR?��p� BLS'

BG~'�4Xp�B?K?@�T�D'��?QLEJC�CLXmBWLC}JCmp�N?@GB�e�6RmFRGCKmp1QLS?p�4a8�*�qwnp qk.p qkwp�.[q

A?@L�mT�D'�/m}LFL�*�Y[p�qqqA?@L�V?DJ~���X?ODGB��p�oeCW'�N?B'

*�.[kp .Y[p .YYp��Z�p �Zqp �Z[�A?@L�p�D?EGC'�*�qnp qwp �kp�wwp�kw

*q�.p q�Zp q�wp� qqqp qq.p qqZpqqkp�q.q�*q.Yp�q.kp�q��p q�wp�.�.p.�np��n[p�Z�Z

A?MGCIp�D'�/mDIO?Q?�N?F'*.�p�Z.p�.[[p.w�p .w[p�.wnp .k�p �kZp �kwp��ZYn

ABG}LELp�Q'�F�/mDIO?@e�N?F'�*�qnkp.Ywp .nkp .w�p .w.p .wZp .w[p

.kqp .k.p .k[p .knp ��[p �qnp �.�p�..p �.wp ��qp� ���*��[p ��wp�Zqp �Z.p��ZYp �[Yp �YZp �n.p�ZnYpZwqp �Zk�

ABG}LELp�RmD�*�.wk�ABJDE\�p� CLKB'� NB?F'�*� KJF'� 0Jj

@?WO?j6L@mCDIOL�>BJCL��ABJDE\��T�d?BEOmF}JCJ�*�Z���AB�C�p� OjB�*� KJF'� 4EGoGRIDIOJS

4EGNLC�ABe}�p�Oe}'�B?TFmKCJO�*�qwZ

��LN��*�KJF'�4EGoGRIDIOJS�4EGNLC�LNeBEp�Q'�omR\�D'�/JNL�*�.Z[�LNeBEp�NBJDmR?O�D'�/JNL�*�.Z[�LN�\O�<LDJRI���2?ELN��p�CLKB'�BG~'

4X�*�qwp�Z�p�q[[�*�q[np qw�p�qwnp.Z�

�LBJCDIOL� N?R?CJCLp� Q'� CL� /G@jOmF}JCm�*�ZZY

�LBJCDIOGp�D'�/mDIO?Q?�N?F'�*��[���FmBOeC�p�DEB'�*���w�F�E?FLp�D'�CL�>FLC?j�BLCOmF}JCm�*

q.p��Z��?O�p�N?FDELCGMI�*�qw.p qw���?O�p�BG~'�4X�*�qkw��?OjXeSEeB�p�TLDEeNCJO��BG~'�4X

*��qwn��IF?COLR?�p� DGR\CJC� T� D'� <?R\

2GEB?FL�*�.k��UBJ�JCL�6LD\�*�Z�k��\NOL�p�FmDE'p�DEB'��*��[���\NOL�p�NFH'�*�.[Yp .[kp�.Y[p���Yp

�qqp Zq.

�dLoLCjXGBGTL�p� DEB'p� o?RI�GjFJMIOJS�LQGCE�*�.kk

�dLSOL�p�OeR'�*��[��dLSOL�p�BLS'�Q?DN'�*�.nYp��qn�dLSOL�p�DEB'�/G@OmFDIO?��D?ECm�k[L

*���k�

[�q

�dLSOL�p�W?E'�*�qZ�p qY�p qY[p �qYYpqkqp�qknp .Zwp .Zk

dLSO?FJWmp�D'�*�.�.dLSO?FDIOJSp�DGR\CJC�*�qYwdL�JCp�D'�/mDIO?Q?�N?F'�*�.n[p�.nYp

.w�p .w.p .wkp .k�p .kkp ��np �qwdGOLSp�D'�*�.[YdGCDE?H?FLp�@'�*�qn.dGBF?CL�LB@m\��d8��*�qnp��wp�nnp� wZp

wYp �.qnp .���dGBG@?��p� oBLE� �4EGN?F?��p� BGj

KLOE?B� NmKNmRICJH� FJKLCI�*wwp qkn

�dGBG@HL�p�DEB'�*��k[�dGBGN�p� DEB'� Tm� D'� /\HLFL�*� qZ�p

qZ[p qkwp .Z�dGBG�CI?FDIOL� 8CCL� ��0GE\CL�p

�bLR\��p�FmDE'p�BLS'�5dAp�@L�'�.Z0<�528�*�q�p qqp ..p��q�*���p�np�q.Yp�.q�p�.qYp .[np�.[wp�.Yqp��[�p�[wp��[kp �Y�p ��Ynp �Ywp��nYp� �nnp�w�p �k�p��k.p �k�p Z�qp Z�.p Z�n*�Zq�p�ZqZp Zq[p Zqnp�Zqwp�Z..�*Z.Yp�Z.wp� Z.kp�Z��*Z�[p Z�kp�ZZqpZZ.p ZZ[p ZZYp Z[�p�Z[.p�Z[�p Z[[pZ[kp ZY.p��ZY�p ZY[p�ZYYp ZYkp ZnZpZwqp Zw.p�Zw[p Zwn�*�Zwk

dGBG�CI?FDIOJS�=JHLSR?� ��2GEjB?��p�BmTIoLB�EGHCmWC?��RLCOJ�*�Zq

�dGBCJO�p�OjB�*�q�wdGBEm|p� NBJDmR?O� D'� X?BmFCJM\�*

.ZkdGBEG|p�D'�*�qYYdGBWmRI�<mCDE?C�*�Zqw�dGDEGB~mRK�p�@LBOL�MJQLB?O�*�.wwdGHJp�NBJDmR?O�D'�X?BmFCJM\�*�qYZp

qYYp .ZwdGHm\�*�Zqwp ZYZp Znn�dGH?j4R?FLMIOL� :LB?KCL� XGT?j

NLDC?DE��*�.n�dGH?j4R?FLWWJCL� � �dGH?DR?FLWj

WJCL��*� qqp� q.p� .wp� ��p� �Zp� [�p.n�p Zwwp�ZkY

dJOL�?p�@'�*�q[p��Yp�Zk.p Zk[dJDE?Q?Bop�D'�CL�/G@OmF}JCm�*�.Ykp

.n��d@mRI�p�FmDE'p�DEB'�*�qkwp��Z[p��Zk�d@mRI�p�B?S'�*�qZ[p q[kp qYwp .Z��d?FL�p�W?E'�D?ECm�OjBL��X?BL��*��Z�d?R?p�Q'�*���wd?BCL�b?BLp�Q'�*�ZnZ�d?BCJS�p�oeR'�*��Yq�d?BCJS�p�oeCW'�*��w.�d?BCJS� <?B?C�p� DGR\CJC� T

D'�4EBmROJ�*�...�d?BCJS�p�OjB�*�Ywp q�Yp q�np qqq�*

qq�p qq[p qqwp q..�*�q.[pq��p�q�wpq[Zp �.�np ���Yp� �nYp Z�Zp�Zw.

�d?BCJS�p�B?S'p�DE'�FmDE'�*�.[kp��.nYp.w.p�.k�

�d?BCJS�p�DLC'�*��Y.�d?BCJS�p�DEB'�*�q�n�d?BC?oBJFJSj/GFLKCJS�p� DEB'�*

qkk�d?BC?EL�p�BLS'�NB?F'�CL�/G@OmF}JCm

*�.nqp�.wqp .wZp��Z.p �[�p�Zw��d?BC?EL�p�BLS'�BG~'�4X�*��[��d?BC\FOL� :LDEeC\�p� DGR\COL� T

D'�<JDRmO�*�.k��d?BC\O�p�B?S'�FK'��XeRLFL��*��k[�d?BE�p�FmDE'p�DEB'�*�Z[p �ZYp��Zkp��[��d?BEJ�p�BmS�/G@OmFDIO?��D?ECm�k[L

*�.Ywp�ZZ�d?BEOmFp�@'�*�.qnd?BEOmF}JCL�*�Z���d?E�p�DEB'�*�.Yq�deQLSDEGB�p� DE'� FmDE'p� B?S'�*�.[kp

.Ywp�.n��deQLSDEJB�p�DEB'�*�ZnYdeOFLp�D'�F�4L@omB}JCm�*�..Z�de@LO�p�B?S'�*�KJF'�X?BGMI��BmS�de@LO�p�FmDE'p�DEB'�*��qnp���Zp��nw�de@LO�p�DLC'�NFK'�OjBL��0LBLDOL��*

�[��deNBJCL�p�FmDE'p�OeR'�*��Zkp��[��deNBJCL�p�B?S'�*�..�

[�.

�deNBJCOL� 0LBLD�p� QGC'� *� KJF'aeHGFJW�7?@LC��

aFLSRJOp�DGR\CJC�*�qn��aFLBCJS�p�DE'�FmDE'�*�.qqp �YY�aFGSO�p�B?S'�*�.[�aGoGR\p�Q'�*�ZnZaGFWeO�<LDJRI���6LKJR?��p�OeBmCCJS

OLNGRLC�*�qwwp qwkp qkqaJ@LCDIOJSp� K?C?}JO� mT� D'� 6ej

R\�CG�*��q.aJ�OLCJCGMI�<LDJRI���XmB��p�D?EGC'

.Z�m�.Y�0<�528�*�.�p�.qp�.Zp�Z.pZ�p�ZYp�qnkp�.[qp .YYp�.n�p .nqp���[p�qnp��.�p �.Y�*��.kp� ��Y��*��Z�p�ZZp��Znp��Zkp��Y�p��Ynp �n[p��nkp�k��*��k[p��kkp Z�[p Z[.p�ZY�p�ZYZpZYnp ZYwp�ZnZp�Zn[p�ZnYp Znk

aO?RmCDIOJSp�N?R\Op� �DE�GRfM��*..�

�aR\H�NGBG@?QJ�p�|eBC'�*�.qp .npZ�p�Zk

�aNLO�p�OeR'�*�.w�p .wZ�aBL@�p�Oe}'�*�qw[�aBL@�p�NB?N'�*��[k�aeFLB�p� KjB�*� KJF'� /e|GMIOJS

^FQGC�aeFLB�p��OmRICJS�E?FLBJ���ABmCL�

*��k[�ae@CJS�p�Oe}'�*��[Y�ae@CJS�p�DEB'�*��kYae@?FDIOL� bLCCLp� @LEJ� 8Bm\KCJ

ae@?FDIO?�j4EGoGRIDIO?��*�.�[ae@?FDIOLjb?�?FDIOL�>BJCL��/mR\�p

DGDEBL� 8Bm\KCJ�ae@?FDIO?�j4EGoGRIDIO?��*�qZp �Yp�.�[p�ZkZ

ae@?FDIOLj4EGoGRIDIOL� 8Bm\KCLpKBe|JCL�X?QKLCL�4EGoGRIDIO?Q?*��q.p qZp q[p .wp .kp �Zp��Yp��np[�p�[.p .�[p ZZkp�ZkZ

ae@?FDIOJS�0G?K?Bp�oBLE�8Bm\KCJae@?FDIO?�j4EGoGRIDIO?��*�.�[

aeHGFJW� 7?@LC� ��0LBLD� deNBJCjOL��p�QGC'p�b6�528�*�..p Z�p�ZZpZkZ

aeHGFJW��BmSp� DJC� QGC'� 7?@LCLaeHGFJWL�*�qZp �Yp�Zk.

�LFCGp�D'�CL�/G@OmF}JCm�*�.�p�Z.p.n�p��.knp .kwp ��qp ��kp �q.p �Z[

�GKBJS�FGWmB�*�.�kp ZYnp ZYw�GBoLCmFOLp�D'�/mDIO?Q?�N?F'�*�.kqp

.kkp �.wp ��[�JQGRIDIOJS� <?R?KJ@JB� ��XeBj

RLOL�p��4ELBJS��p�H?B'�OeB'�D?EGC'.Y�0<�528�*�qnp��wp�Y�p YZp YYpYnp n�p�nw�*�w�p w��*�wnp�qnqp qnZpqwwp qwkp qknp .[Zp�.[[p���qp ��q�p�Z�p �Z[p �Znp �kk

��eOL�p�FmDE'p�DEB'�*�.qqp .nZp .wZp��np �Z[p��Zkp��YYp��Ynp��nY

��eNLO�p�DEB'�*�q[k��eNLO��T�D'�/m@CL�*�.Z���eNLO�p�W?E'�*�.Y�p .w�p�.wZp ��qp

�.�p ��Y��eB��*�qZ�p qk.p qk�p qkw��eB��T�D'�5RUW�*�.�n�eBO?p� DGR\CJC�T� D'�6eTI@JCL�*

qYq

�Q?DRLFm\�*�.wnp ZY[��TI?�p�Oe}'�Q?DN'�*�qkYp�qkw�TI?p�DGR\CJC�*�qZ.��TI?�p�DEB'�*�qZ��CLMEF?�15:�*�q�p��[��CLMIOL�D?EC\�p�D?EC\�528�*�..�p

..Zp ..[�BO?p�DGR\CJC�T�D'�:LCWmFOL�<GRJOL

*���Yq��BO?�p�BLS'�NB?F'�*�qZnp qZkp�.Z[�BO?FLp� D'� _?oB?@JRIDIO?Q?� N?F'

*��qwZ�BO?FDOL� 1RGCLp� DGR\COL� T

D'�6?DEGB?FGMI�*��q�

[��

��BWGCO?�p�W?E'�*�qnk�}J�JC� =LEFmSp� DGR\CJC� T

D'�4FJKCJO�*�..n

`oRmCOLp�RmD�e�4EBmROmFDIO?@e�BjCm*���kwp�Zw�

`oR?CJM\p�D'�*�qn��`FmB�p�o?S?FJO�T�7?QLEJC}JCJ�*

�YZ�`FmB�p�|LCKLB@p�DE'�FmDE'�*��Z�p �Zq�`FmB�p�DE'�FmDE'p�B?S'�*��Zkp��[qp��k[�`FmBj2LDEGBCLO�p� �4ELBJS�p� BLS'

NB?F'�*�kZp k[p knp�kkp q.�p q.Zpq.kp q��p q�np�q�kp qZ�p qZkp�qY�pqYqp�qnqp qw[p�qwYp�qwwp qkkp�.�np.�wp .Z[p�.Zw

`FmBCJO�7eDIOJSp�D'�F�XmBWLC}JCm�*qqnp qY.p .�np .ZZp .[q

`FmBCJOp�D'�CL�/G@OmF}JCm�*�.�p�Z.pqYZp�qk�p .Zwp .[[p .n�p .nkp .w�p.wqp .k�p ��np �qnp �.qp �.n

�`F?BGCO?�p� OLNGRLC� 528�*KJF'7LKI?�8CKBmS

`F?BGMIp�D'�CL�/G@OmF}JCm�*��.�`FWGp�D'�omR\�7?QLEJCL��*�q.p��Z`OD@LCJWmp�D'�*�qwZ`@CL�_?Rm�C\p�D'�_?oB?@JRIDIO?Q?

N?F'�*�.�np .Z�p .[�`Cm�GFDIOJSp� N?R\Op� D?REJD� *

qq�p qqq

`COmFDIOJS� bBJQ?BmS� ��/LDEmFOL��pH?B'� D?EGC'p� OjB� .Y� 0<�528�*q��p qnqp .[qp�.[[p���Zn

`CI?p�DGR\CJC�*�qZ�p qZqp q[�p qYZ�`CI?�p�DGR\CJC�T�D'�/\HLFL�*�.wk�`B��mT�7?QLEJC}JCJ�*�qZ�p qZZp qkw�`B�p�o?S?FJO�Tm�D'�/eWJCMm�*�.Z�p

.[.p�Z[w�`BG@L�p�Oe}'�*��ZY�`BJCL��*�Yn�`BO?�p�o?S?FJO��*��Y��`B?DRLF�p�DE'�FmDE'p�B?S'��*�.[kp�.Ywp

��w�`B?DRLFL�p��G~�5dA�*�qw.p qkn`BWJOJp�RmD�CL�0eBOmF}JCm�*�..np

..w`DGRO?p�D'�4\CmMIO?Q?�N?F'�*�.�p�Zqp

.[[p� .Y�p� .nZp� .kqp �.qp �ZkpZZ�p ZZZ

`DGCmFp�NBJDmR?O�CL�/G@OmF}JCm�*.wk

`DGCmFp�D'�F�XmBWLC}JCm�*�qY��`DGCI�p�FmDE'p�DEB'�*��Z[p���Zk�`DGCI�p�Oe}'�*��Zn`DmCOLp�D'�0eBOmFDIO?Q?�BjCe�*�..n`DRJDIOLp�D'�CL�/G@OmF}JCm�*��.nqp

.nkp�.w�p .wqp �.k`DR?p�Q'�CL�/G@OmF}JCm�*�.kq`DR?p�@'�*�q�k�`DCJS�p�DEB'�*��.q`MO?���=e�OL��p�OjB�*�Yn

[�Z

�#$���� V![�"� _Vl

6?@LCKJB�4EGNLC�ABmC'������������������������������� ������/!�����/�""#�''''''''''''''''''''''''''''''''''''''''�n

P?R?EJS�ABGDE�X?S?F?��PLDReQJ�>�6R\DJp\OJ@�oeF�FmKTCLWGCJS�6?@LCKJB�4EGNLC�ABmC�'''''''''''''''''''''''''''''''''''''''''''''''''�n

=LEJ�4EGNLCL�ABmCLp�cRG?C?BL�6?MLCj4EGoGRIDIOL'L� �����J��������,��� ���%����,��/,��0����"M��'''''''''''''''''''''''''''''�[�

XLEIO?�4EGNLCL�ABmCLp�>RR\�4EGoGRIDIOJS'L� �����J��������,��� ���%����,��/,��0����"MN�'''''''''''''''''''''''''''''�[Z

=LEJ�4EGNLCL�ABmCLp�cRG?C?BL�6?MLCj4EGoGRIDIOL'L� �����J��������,��� ���%����,��/,��0����"MN�'''''''''''''''''''''''''''''�[Z

4ELBL��O?RL�F�D'�b?RJCIp�KG�CLB?KJFD\�4EGNLC�ABmC'O���0�""P�'�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[Z>RR\�4EGoGRIDIOJS�F�WLD�DRe|oJNBJ�LFDEBmSDIO?@e�FmSDIOe'�J��0����"�#�''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[[

/JDEmFOL�>RRm�4EGoGRIDIO?Q?�K?�KBe|JCJ�cRG?C?BJ�''''''''''''''''''''''''''''''''''''�[[

=LEeBLRICG�~?E?�4EGNLCL�4EGoGRIDIO?Q?'���,��/�"M��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[Y

4EGNLC�4EGoGRIDIOJS�F�o?SOmFDIO?@e�?K\Tm�'''''''''''''''''''''''''''''''''''''''''''''''''''�[Y

X?SOmFDIOm�ELCMUBJDEJ�CL�N?NJDmCLB?KC?��C?�m�m�ELCMU'����,��/�"MN�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[Y

XBLEJ�m�DGDEBJ�4EGoGRIDIOmT�@JDEMG@�=JHLSR?@�=?B?T?@'����,��/�"MP�'''''''''''''''''''''''''''''''''''''''''''''''�[n

XBLEJ�7?@LC�m�4EGNLC�4EGoGRIDIOm'���,��/,��0����"MN�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[n

XBLEJ�<?R?KJ@JB�m�4EGNLC�4EGoGRIDIOm'���,��/,��0����"MN�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[w

4EGNLC�4EGoGRIDIOJS'����,��/,��0����"MN�''''''''''''''''''''''''''''''''''''''''''''''''�.�Z

4EGNLC�4EGoGRIDIOJS�mT�DGR\CL@J'J��0����"MY''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.�Z

7?KJCL�4EGoGRIDIOJH�F�4L@o?Bm'���������"M"�'''''''''''''''''''''''''''''''''''''''''''�.�[

7?KJCL�4EGoGRIDIOJH�NmK�HLE?U�F�4L@o?Bm�''''''''''''''''''''''''''''''''''''''''''''''''''�.�[

4EGNLC�4EGoGRIDIOJS'�J��0����"MY�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.�Y

4EGNLC�4EGoGRIDIOJS'����,��/ �������"M"�''''''''''''''''''''''''''''''''''''''''''''''''�.�Y

4EGNLC�4EGoGRIDIOJS'��"Ub�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n�

4EGNLC�4EGoGRIDIOJS�T�KBe|JC?Um�DGDEB?U�KBe|JCJ'�!�0�����/�"UP�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n�

4EGNLC�4EGoGRIDIOJS�T�KBe|JC?U�m�K?WO?UNmK�HLE?U�F�6eTI@JCm'��"UP�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��nq

[�[

4EGNLC�4EGoGRIDIOJS�T�KBe|JC?U�m�K?WO?U�'''''''''''''''''''''''''''''''''''''''''''''''��nq

4EGNLC�4EGoGRIDIOJS�T�K?WO?U�/mRGU'���&������,���������"UP�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n.

4EGNLC�4EGoGRIDIOJS�*��ABmC�pO?@LCKJB�/G@OmFDIO?��D?ECm�k[L�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n.

cRG?C?BL�6?MLCj4EGoGRIDIOL'E�+K�� ���� ���/!�����/�"U"�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk�

X?QKLC�4EGoGRIDIOJS' ������/!�����/�"#Y�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk�

XBLEJ�7?@LC�m�X?QKLC�4EGoGRIDIOm'���,��/,��0����"MN�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk�

=LBmSOL�4EGoGRIDIOLj=\CO?FDIOLT�DJC?@�7?@LC?@'�����B�/�"UU�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk�

<?R?KJ@JB�4EGoGRIDIOJS�T�B?KJC?U'\�������/!�����/�"�b�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zkq

=?QJRL�>RRm�4EGoGRIDIO?Q?'�����%L�0���/-���.���''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zkq

/mR\�4EGoGRIDIOLj1FGBO?�m��BmS�aeHGFJW'I���g�/�"Y"�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk.

/mR\�4EGoGRIDIOLj1FGBO?�T�BGWL@J�oLEIOL'I���g�/�"Y"�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk.

1D?oJDEm�BGWm�4EGNLCL�ABmCL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk�

2L@+\ECJO�QGC'�4FfBWGFDIO?@e�CL�/G@OmF}JCm�'''''''''''''''''''''''''''''''''''''''''''�Zk�

X?QKLC�4EGoGRIDIOJSm�S?Q?�CGom|p�7?@LC�=\CO?FDIOJS'�S����""b�'''''''''''''''''''''''''''''''''''''''''''''�Zk�

4J@F?RmWCL�@?QJRL�4EGNLCL�ABmCLp��KG�N?H?FLCJSS?Q?�oBLEp�X?QKLC'�A�&��/A������/!������'''''''''''''''''''''''''''''''''''''''''''''''''�ZkZ

/mR\�4EGoGRIDIOLj1FGBO?Tm�DGDEB?U�QGC'�7?@LCL�aeHGFJWL'�J������B�/�""P�''''''''''''''''''''''''''''''''''�ZkZ

2mK�NL@+\ECJO?@�4RLFJ�F?�CL@�528'A�&��/A�������''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�ZkZ

/mR\�4EGoGRIDIOLj1FGBO?T�FGEGBLCL@J�528�Tm�4EBJS}JCJ'�!�.&/�""P�'''''''''''''''''''''''''''''''''''''''''''''''�Zk[

/mR\�4EGoGRIDIOLj1FGBO?T�FCeO?@p�=LBO?@j4EGNLC?@'�I���g�/�""��'''''''''''''''''''''''''''''''''''''''''''''''''''�Zk[

[�Y

��V�"

R�"%#�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''k

�C:<6I=D:�6C�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�q

���������W�&� ��'��� �� RW�� ��X� %#

��V�����V��� !V� �''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''[k2>_�24c<_1=��5�2>_2>//>�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Y�

2c7c61d5�0;4`�_<>�:8<8/3�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''YY

X1/;ac<3�;6>�71P<>_8d>�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''nY

17b8:>P1<5^=1�48=11X171:5�4>/�'''''''''''''''''''''''''''''''''''''''''''wk

P�dc0<c701��d101��410:>�6j78�A1=3�'''''''''''''''''''''''''''''''''''kw

2>_�/>�8<1��b17>a:;1��'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''qq.

1Xa563�P8�78:c:3=3�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''q.n

<3b1���78:3�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''q�.

P�2>_2>/;:1��X19<61��<�1X171:>�:84c/c::`�''''''''''''''q�k

271d3�5^=1�0c7c:�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''q[q

6>:c�;�dc7<1:3A�X19<6874;63A�b:>P_�'''''''''''''''''''''''''''''''''qYq

�21<408:4;68�7c425X/>68��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''qn�

:8�45_>��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''qw[

=19�1408::>�X19�<�X>7d8:�3:>�'''''''''''''''''''''''''''''''''''''''''''''''''''qk�

:8�/c=6><�3:5�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''qkn

����"�(�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�.

�#��$U$�Z�"�R�`����"��RT�� ����W��� "��� i� �� RW�� ��W�� %#

d!T���e� W� d� �VR� e� jPNN� k� jPNK� ''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�n

2c7c_=1<8�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�w

_1�PX71V:19�X1710;X3�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.qn

<|G�WLD�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.qn�mOLFL�NBJQ?KL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.qk_?�RLF�528�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.qk2GB�L�Km\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..�5DNmH�ORJWmF�528�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..q:LDO?O�CL��LBCmT?C�F�4EBmROLH�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..q<GRJOJS�T+�TK�NB?FmKCJOmF�15:p�O?@LCKJBmF�528pKGRG�LEmF�BmTCJH�NLBEmS�m�FJomB�5b<7�''''''''''''''''''''''''''''''''''''''''''''''''''''...PeDEBmWm�T�o?RI�GFJMIOJ@J�NLBL�eEJDEL@J�''''''''''''''''''''''''''''''''''''''..�X?��T�Cm@M\@J�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..Z

[�n

2BJ�TK�OjBL�2GBGoJSC?DL�m�OjBL�_TFmCWeOL�'''''''''''''''''''''''''''''''''''''''..[dGBQ?Fm�o?��T�Cm@M\@J�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..[<�?omS@LH�~B?CE?FJH�RmCmS�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..w6jB�7mTeC�NL@+\ELf�m�NB?�CLD�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..kd?@e�|�MG�ELO�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''..k:L�oLQCLH�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.��>ELRmSMm�F�B\KLH�528�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�q2BJQ?KL�F�0LELBLH�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.��2B?F?OLE?B�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.��=mS�FmKHmK�mT�D?ECm��XeRLFL��'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�[

<�7c<1/��>V:1=5�2>_2>//>�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�[

:LK�4\C?@�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�[=?\��NLNLKI?�OL��'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�YPeDEBmW�T�L@GBJOLCDIOJ@J�RmEeCL@J�'''''''''''''''''''''''''''''''''''''''''''''''''''''.�Y`OJS�O?@LCKJBp�ELOG�S?Q?�S�FmSDIO?�'''''''''''''''''''''''''''''''''''''''''''''''''''''.�n2GB�L�TeDEBmW�T�W?E?FJ@�ABmC?@�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�w<J�OmR�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.�k:LDO?O�CL�o?RI�GFJOmF�e�DGRm�bRe@Wm�''''''''''''''''''''''''''''''''''''''''''''''''''.�kXmS�e�/m}LFm�b?Bm�CmS�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Z�7mTKF\Cm�DF\EL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.ZqPLDmKOL�CL�oLCKJEmF�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.ZqXmS�F�?o?B?Cm�DGRL�bB?TI?FJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Z.:LDO?O�CL�7GoBGMI�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Z�6?@LCKJB�?H?B?CC?Q?�FmKKmRe�1RGCI�'''''''''''''''''''''''''''''''''''''''''''''''''''.ZZ4?EGCCJS�bB?@GCO?�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.ZZ7LS?C?FJS�NB?FmKCJO��BO?�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Z[:L��LNeBE�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Z[XmS�CL�_?oBmS�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.ZYPLDmKOL�CL�oLCKJEmF�@m|�DGRL@J�6BJFGm�/m}LFL�_?Rm�C\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Zn<GRJOJS�CLDEeN�CL�X?BmFCJMU�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Zn:L�RmOeFLCCm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.ZkPLDmKOL�CL�@mRmMmU�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[�:L�FJ�O?Rm�4X�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[�:L�NmKDELB�JCDIO?@e�FJ�O?Rm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[q6?TLMIOG�NB?}LCC\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[q<�C?F?@e�EGBGCm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[.7mTKF\Cm�DF\EL�qkZY�B?Oe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[.<JDGRGCC\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[�<mKHmK�CL�/G@OmF}JCe�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[�2LRLUEI�F?B?|m�OeoRL��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[Z<�7`_8A�528�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[[PeDEBmW�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[[<GRJO?KCmS�BGSK�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[[4N?FmKI�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[Y

[�w

<GRJOKGCI�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[w1oRJFLCJS�N?CGKmR?O�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.[k:GDN?KmFLCm�Q?DEm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Y�4GR?�7JoCG�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Y�:L�NmKDELB�JCDIOJS�FJ�OmR�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Yq=LB��CL�<?RO?FJU�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Yq<�DGRm�XeO?FGMI�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Y.=LB��CL�0GBOe�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Y.2BJQ?KJ��CL�?Q?�FGRGEC\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.YY0BJF?QL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.YYPeDEBmW�T�OjB?@�=JB?C?@�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.Yn<GRJOJS�omS�e�bmWFJM\H�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.YnPeDEBmW�T�OjB?@�7GC?@�m�NBJQ?EeFLCC\�K?�o?U�F�XGDOJKm�''''''''''''''.Yw:LDEeN�CL�DGRL�2?R?CCe�m�6L@+\CG�'''''''''''''''''''''''''''''''''''''''''''''''''''''''.Yk<JDGRGCC\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.n�XeK?FL��NJELRIOJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.n.XmS�e�2BJoJ�mFDIO?@e�RmDm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.n.2B?F?OLMm\�WGHmF�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.n�:L�L��EeOL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.n�>C�m�o?��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.nZ<mKHmK�KBeQ?��D?ECm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.n[:LDO?O�CL��LBCmT?C�F�DGRm�=?B?H?Fm�''''''''''''''''''''''''''''''''''''''''''''''''''''.n[PLDmKOL�omR\�DGRL�6eR\�C?Q?�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.nY:fof}LCJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.nnPLQmB+\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.nw�XLELRIS?C�DI@GBMm��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.nk_LBeCOJ�KR\�6?@LCWm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.nk�CJFL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w�XmS�F�4eB?FJMm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wq6LRICJM\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wq:LDO?O�CL�O?@LCKJBL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w.<m}eFLCC\�NELHmF�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w.6BJFLFJS�omS�O?R?�DGRL�A?MGCI�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w�4NGMQBeNL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wZ<mKHmK�D?ECm�OjBL�XB?KJWL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wZ2?F?B?E�KBeQ?��D?ECm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w[:LDO?O�CL�F?B?|m�oeCOGBJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w[XmS�O?R?�<GBCJ�FOJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.w[0mE?�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wY2?RmEF+\TGCI�?N?FmKLf�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wn2LWOLBm�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.ww:L�m�QCmTKL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.wk4O?O�CL�0LBCLFe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.kq1o?B?CL�ELo?Be�CL�ABG}LEmS�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.k.XeKef@?�ELo?BJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.k[

[�k

:LDEeN�CL�N?RIDIOe�EFGBKJCU�2BeDfO�''''''''''''''''''''''''''''''''''''''''''''''''.kYXmS�F�6eR\�C\CDIO?@e�RmDm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.kn4@GBEI�OjBL�1@GRIOL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.kn:LDO?O�F?B?QL�CL�CL��ELomB�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.kw8�GCEeBCL�B?o?EL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.kk=JRL�TeDEBmW�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''.kk:L�TLRmTCJWC?@e��R\He�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���XeKef@?�F|G�EBGEmS�ELomB�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���/mOFmKLMm\�@?DEmF�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��q:LDEeN�CL�0JR\Fe�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��qPJ@L�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���=?\��JCGR\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��Z>Ke�CL�FmKNeDEOe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��[2B?NL�LCKJFCJS�TJ@?FJS�BGSK�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��[V?BKLC�F�/eO?Fm@�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��Y`O�Km\RL�L�GCEeBL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n2mK�Q?RJ@�CGo?@�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�q.5NLK?O��NJELRIOJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�q�<?B?Q�F�DGRm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�q�8�GCEeBCL�B?o?EL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qZ4EBmR�F�N?B?|CGWe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qZ_Fm�QBeNJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�q[_m��CL�?��QBeNJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�q[_m��NGB�?���QBeNJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qY<mDEOJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qn=LB��K?�O?@LCKJBL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qn:LDRmKOJ�DNmTCGCC\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qwPLDmKOL�CL�QGCGBLRL�4FfBWGFDIO?Q?�'''''''''''''''''''''''''''''''''''''''''''''''''''''''�qw:L�m�HJEB?}m�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�qk<?B?Q�OLTJEID\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.�:LDEeN�N?R\OmF�m�WGHmF�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.q2?Q?C\�m�Q?R?K�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�..>�TL�oeRIoe�EBGoL�oJEJD\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�..>KG@?�CL�DF\EL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.�<GRJO?KCm�DF\EL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.�2?RI?FL�4Re|oL�X?|L�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.[PeDEBmW�T�D?ECGU�OjBL�X?BL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.Y<�XGDOJKm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.n=m|�@mCL@J�CL�Q?Bm�=LEBLQ?CL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.n=LB��CL�ABG}LEe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.w<?B?|JS�CLDEeN�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.k�LHRJFG�FJDGRGCC\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�.k:L�G�DEBmRGMEF?�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���:L�L�NmKQ?E?FOL�m�NGB�m�DeEJWOJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''���:LDEeN�CL�ABG}LEe�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��q=m|�@mCL@J�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��q

[Z�

0BJ�K?oJ�F�@LB�m�S�Q?R?Km�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��.=LB��CL�DE?RJMU�ABG}LEe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���<GRJOL�?oRLFL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���:L�L�DE?RJM\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''���_BeQJS�CLDEeN�CL�ABG}LEe�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��[6?TLMIOJS�DeK�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��Y7LKmDCG�T+fKCLCC\�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��YXmS�TL�Q?Be�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n:LDO?O�WGHmF�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��n�LHRJFG�DELC?FJ}G�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��w4L@�?KJCp�L�CLFO?R?�F?B?Q�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''��k�LHRJFL�OLBEJCL�m�TeDEBmW�T�OjB?@�7GC?@�'''''''''''''''''''''''''''''''''''''''''�ZqX?@oLBKeFLCC\�ABG}LE?��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Z.PeDEBmW�T�oeCW'�2BJDNmF?@m�N?RmEFJH?FCJO?@�4?R?@O?U�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Z�:L�/?NmCCJOe�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�ZZ:L�<GERJCDIOmS�=L�eBm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�ZZ<�ELo?Bm�O?R?�4eO?FLE?Q?�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Z[:L�=L�eBm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zn2GBGK�FmK@LB�G@�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Zk2GBGHmK�O?BK?Ce�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[�:8�0c73017>9�5447�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[qaeOLf@?�TF+\TOe�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[qPeDEBmW�T�@?�@�O?@LCKJB?@�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[.4F\E?�ToB?���q�DGBNC\�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[�_Fm�HLBLOEGBJDEJOJ�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[Z:L�XLKI?FmS�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[Y0BJ�O?@LCKJBJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[n:L�m�DRLFCm�KmFWLEL�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[n>KG@?�KLRm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[w2GB�JS�BGSK�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�[kb?DEJCL�e�OjBL�0LBLDOL�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Yq=mS�oeCOGB�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Y.7mTKF?�F�oeCOGBm�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Y�8R\B@�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�YZXLCKJE�6BJFGCO?�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Y[<|G�@?��HR?NMm�N?WLRJ�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Y[2BJ�6<��=LOmFOL�*�.Z��'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�YY����"�(�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�Yw

���������W�&���'��� ��RW�� ��X�%#

�$��[�R�]%U�T�V

���n�� S����W��� jPNMSNK� '''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�n�

<c4:8��>�/>01�qkZn�7165�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�nZ

2>_�Pc=/c��*�<�X5:6c7>�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�wq

[Zq

�1_c::>�P8:`00`�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�k�

21<408:4;6c�/3405<8::`�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''�k�

_><d808j21<408:�>�23a50;�''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z�q

40'�<>40'�=3A8V/1�X8V_86�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z�[

<1:3�_1<b1�P8�=:1��X/568/3�''''''''''''''''''''''''''''''''''''''''''''''''Zq�

2c7a3V�8/`7=�*�:8�71P<>_65�'''''''''''''''''''''''''''''''''''''''''''''''''''Zq�

407>/;�>�=8�0;�4/1<1�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Zqn

21012�<�X5:6c7>�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z.q

>_50;�_:>�P8�_:`=3�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z.[

:c271ac:>�b140>�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z��

_c:;�4<'�8::3�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z��

71P<>_1d:8�40c�8�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z�Y

:8�_1P<>//>�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z�k

_8<:^�=3:5/c�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZZ.

>�<1:3�d841=�2734:`0;4`�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZZn

:871_�P�:8=3�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Z[�

<�1d>65<8::>�7>P_<`:19�P>763�'''''''''''''''''''''''''''''''''''''''''''''''''''''Z[.

216/>:�01X>p�4087c:;68�=803�'''''''''''''''''''''''''''''''''''''''''''''''''''Z[n

273b1_8�:8a3A�71P<>_:36><�'''''''''''''''''''''''''''''''''''''''''''''''''''''Z[k

P5407>d8^=1�:1<3Vp�qkZw�7>6�''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZYq

=19�2c7c_X8dc::`�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZYZ

<1_1A73�8�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZYn

<>40>�>P�4<>05�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZYk

<�1X>V=8A�4=c703�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Zn.

7cb>0�65/c=c0><�<�/>48A�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZnZ

Xc7cP:c<>�_:>�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Zw.

:84616�<171b8�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZwZ

����"�(�'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''Zww

RVY�R$Y RU$_"R �dY���]��ce�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''ZkY

�#$���������ZTU��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''[��

#�� {Z$��''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''[�.

�#$����V![�"� _Vl�''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''[�Z

[Z.

!V"�#$�%�� cU����c�#�R�" U����c� ��Vc

S����� -�� F �� ���%�� ���'��&� &������� 5���0�&�����F���,����&���/0������������'�������.��(�� ��/���������%������������ ����.-��/�����' �����+&���%&���&������������������ ��-����� ����+-���.������������� &0������ !�'��% ��� �,� ����� ����& S����� ���� &�(��� ������������ � ��+�� ��0&�� I� ��������&�)���+3� ����+-��0���&��%��������,���1�)���������)/��/���������/��������/&D���(���/������.� ���)0����)�������B�+��B��!�'��0��)��������%��'������&�K���/���%,���1�����&��������&� �������'��,������ &�(���0�������������/ �,� 0,������� ������&/ �����/ �,� ��'�,��� ���'��+ ������ �&���� �� ��� � ����� G,���������&��+�� ����������(��/�0���'��&���������&��%����K�+&������ ������������E�����������'��S����� ���'�%�� ����1�/ ��' 0� �����1������������������ ������ (�)��������3+ ����%� ��������� ���������&�+�� � 0 �����K�������'�������.��(�� ��/0�0,���'�����0�������.d�������g������!���(��&����&�����(�&���&��������1���'���)�� ��&��0��(�+�� ��&�����������'�����,�F�������,��F ��� ���� & ��������)� �� ��� &��0��(�+�� � �������������3+ ��&�/��� �����(�0�����&��&��� ���R�1������������������� F �������/ �����������/ ��,���� ������B�F���������&�+�� � ,�0 ����� ��&/ ����� ��&�� % ���&��� ��&����&����� �������� �� &��0��(�+�� �/ )�,� & � �,��&�)&������)� a� ���&���/ ��������� ,����� � 0 ���g�����&/ ������ &�� ���� �� ���g����� �� �&��� ,����� � ��%&��������1������(������������ �)&������)��(������3�� ��'�����/��&���������������&���)��)�&��)���������&F��'�� ��0,���'��������������������!�'��%�����3��&������ �,�� �� ��&� ��% � ��&��� ��� ��) ��&/ ����(��� ������&'�&���)(���0��0�����) ��&�

[Z�

@�:6~h*�=~A�k�D;<6C�D@?6B�:;?�=7<A�C�AC��C*=<>?C:�A<gh

k*8:V?lm6n *l o l79*7l :p q::rl/ V9:st<7su*8= 8=7o*v:pVtqw*l=*>xl:t9<7s:<tv7>8lo>svo879*owl97wo8*>x8:8=7=*l8:9?:p8=7m6n/olu7wwoll8*vtwo8*>xo>sVtqw*l=*>xu:9rloq:t88=7o<8*y*8*7l:p 8=7m6no>s/ *>ov:97x7>79owuo?/ 8=7=*l8:9?:pmr9o*>7:p8=o8V79*:s�zo<=y:wtv7:9x9:tV:py:wtv7l:pk*8:V?lm6n*ls7y:87s8:olV7<*p*<8=7v7o>s=olol7Vo9o878*8w7�{:v7:p8=7y:wtv7ls7owu*8=8=7=*l8:9?:p8=7m6n*>ox*y7>V79*:s:p8*v7:9*>ox*y7>97x*:>Fp:97|ovVw7/*>}:w?>c/*>~ow?<=?>o/*>8=797x*:>l:pmr9o*>7=7wsq?6:wo>so>sl::>��u:/ 8=977/:97y7>v:97y:wtv7lvo?q7s7y:87s8:x7>79ow 8=7v7l/ 8:<:ww7<K8*:>l:pv7v:9*7l/:98:l*>xw7q::rlq?*>s*y*stowot8=:9ls7ow*>xu*8=Vo98*<two9 �t7l8*:>l� �=7 oVV7o9o><7 :p k*8:V?lm6n *l >:8V79*:s*</o>ss7V7>sl:>8=7Vo<7o8u=*<=lt<<7ll*y7y:wtv7lo97<:vV*w7so>sV97Vo97s p:9V9*>8��=7y:wtv7lvo?oVV7o9 *>o>:9s79:8=798=o8*>s*<o87soq:y7/qol7s:>o8799*8:9*owo>s<=9:K>:w:x*<owV9*><*Vw7�Q>97V9*>8*>xs:<tv7>8l/u7os=797l89*<8w?8:8=7*9l:t9<7lo>sV97l79y78=7x7>79owp:9v/wo>xtox7o>s:98=:xK9oV=? :p 8=7 :9*x*>owl� 6wo<7l *> 8=7 87|8u=797 <:997<8*:>l =oy7=os8:q7vos7/:9u=7978=7:9*x*>ows:<tv7>8l=oy7q77>sovKox7s:9=os8:q797<:>l8*8t87s/o97s7l*x>o87su*8=l�to97q9o<rK78l/:9/ *p>7<7llo9?/V9:y*s7su*8=7|Vwo>o8:9? p::8>:87l��:9sl/7|Vwo>o8*:>l/:98*8w7l*>l*s78=787|8l8=o8=oy7q77>oss7sq?8=77s*8:9lo97*>s*<o87s*>ol*v*wo9vo>>79��8=79t>s79x9:t>svoK879*owlFv7v:9*7l/v7v:9o>so/u:9rl:pVtqw*<*l8lo>s8=7w*r7Fo97 owl: 97V9*>87s u*8=:t8 :vv*ll*:>l/ qt8 :>w? *> 7|<7V8*:>ow<ol7l o97 w*>xt*l8*< o>s :98=:x9oV=*< <:997<8*:>l *>s*<o87s� �7KV9*>8lo97qol7s:>:9*x*>ow87|8l�Q><ol7lu=7978=7:9*x*>ow87|8*l>:8oyo*woqw7/8=797V9*>8*lqol7s:>8=7v:l897w*oqw7<:V?:p97V9*>8��=7l:t9<7l:powwvo879*owltl7so97<w7o9w?*>s*<o87so>s*> 8=7<ol7:p 97V9*>87so9<=*yowvo879*ow/ 8=7*9V97l7>8 w:<o8*:>lo97owl:x*y7>�zo<=y:wtv7*lV9:y*s7su*8=o>*>s7|:p>ov7l:pV79l:>lo>sVwo<7lo>soxw:llo9?w*l8*>x>ov7l8=o8vo?>:8q7<w7o9/oqq97y*o8*:>lo>s9o97w?Ktl7s:9*><:vV97=7>l*qw7u:9sl�

[ZZ

!V"�#$��%�� cU����c�#�R�" U����c� ��Vc

���W���� �� m����� � ����p� ���X'���W�&'����W�W�� W� ��X��� �����t���� W����Ws

%���s����s�#���������s� �'Ws

Y������� ����������������O��������Z*^b

"�'�jL�R� ��W�#�W��pH��W'�t�����X��tWp���� n�����o�H�#�i��� %# �� ���X'��� � W� '����Wp L� 6CJQL� @mDEJEI� N?RmEJWCm� S� ?BQLCmTLMmSCmK?Oe@GCEJ� EL� @LEGBmLRJ� K?� mDE?Bm�� 528� CL� <?RJCm� m� 2?RmDDm'� 0BGEfpFJNBLFRGCG�FJKLCC\p�qkwk�B'p�.[Y�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�p�@LNJpDHG@J'

"�'� }L� R� �� W�#�W��pH� �W'�t��� ��X��tWp�� �� n�� ��Xn�L�6CJQL@mDEJEI�NmKNmRICm�K?Oe@GCEJ�m�@LEGBmLRJ�NB?�o?S?Fm�Km��528�CL�<?RJCm�S2?RmDDm'�_BeQGp�FJNBLFRGCG�FJKLCC\p�qkw[�B'p�.[Y�DE?B'p�EFGBKL�?oORLKJCOLpmRUDEBLMm�p�@LNJ'

"�'�(kNL�Z��� ��W�H�� ����p���'��� ����� ���W����n������ i��n��W�� ����%# &� jPNM�k� jPJ)���� L��� n�����o�� W� ��Xn�L�6CJQJ�@mDE\EI@G@?BmLRJp� om?QBL~mWCm� CLBJDJ� S� K?Oe@GCEJ� NB?� Km�� FmKKmRmF� 5284ELCJDRLFmFDIO?Q?�0<�528'�dLDEJCL�@LEGBmLRmF�*�?N?FmKLCC\p�C?FGRJ�SFmB�m'

"�'�(&��� n�����o�H�jPNM�k�jPNKL�_BeQGp�FJNBLFRGCG�FJKLCC\p�qkwn�B'.n.�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�p�@LNJp�DHG@J'

"�'�N&��� n����Xn�H�jPNK�k�jPJ)��������m���p�L�_BeQGp�FJNBLFRGCGFJKLCC\p�qkwk�B'�.ww�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�p�@LNJp�DHG@J'

"�'�JL�R� ��W�#�W��pH��W'�t�����X��tWp���� n������pH����' � Xi��� �W�L�6CJQL�@mDEJEI�DN?QLKJp�BGMGCTm��m�K?KLEO?Fm�NmKNmRICm�@LEGBmLRJNB?�Km��528'�=m|�@G@eLBL@J�*�TFmK?@RGCC\�NB?�K?Q?FmB�NB?�CGCLNLK�@m|b6�528�S�eQ?BDIO?U�LB@mfU'�qkw��B'p��q.�DE?B'p�@LNJp�mRUDEBLMm�'

"�'�zL�%# �����W�W��W'�t� �����X'���W�&�jPN}�k�jPNJ���� n�����o�HjPN}�k� ����jPNNL�6CJQL�@mDEJEI�LCLRmTJp�@G@?BLCKe@Jp�TFmK?@RGCC\p�TFmEJpL�ELO?|�NGBGORLKJ�eOBL�CDIOJH�K?Oe@GCEmF�KR\�MGCEBLRICJH�N?RmEJWCJHpFmSDIO?FJH� m�N?RmMmSCJH�eDELC?F'� qkw��B'p� .[Y�DE?B'p� EFGBKL�?oORLKJCOLpmRUDEBLMm�p�@LNJ'

"�'�ML�%# �����W�W��W'�t� �����X'���W���jPN}�k�jPNJ���� n����Xn�H�������jPNN�k�jPNJ��������m���p�o����n����'X�L�qkw��B'�.n.�DE?B'p�EFGBKL?oORLKJCOLp�mRUDEBLMm�p�@LNJ'

[Z[

"�'� KL� %���s����� `������ R r����� ������ ���X'��� &� �uWtW��W�X�W��tWs&�'����Wp ���� n�����o�H�jPNN�k�jPNJL�6CJQL�@mDEJEI�?DC?FCmK?Oe@GCEJ�2GB�?Q?�<GRJO?Q?�Po?Be�5b<7p�NGBGKBeO�?BQLCe�2BGTJKm��5b<7�� �����W'�Z��n�p�DGBNGCI�qkZ[��m�DELEEm�EL�@LEGBmLRJ�T�qkZZ�*�Z[�BB'p�\OmDE?DeUEID\�MmR?DEJ�FJTF?RIC?Q?�BeHe'�qkw��B'p��.��DE?B'p�EFGBKL�?oORLKJCOLpmRUDEBLMm�p�@LNJp�DHG@J'

"�'� PL� %���s����� `������ R r����� ������ �� n�� ��Xn�H� jPNz�kjPNKL�6CJQL�@mDEJEI�?BQLCJ�5b<7����� ��%�� ��mJ+����d������%-D�4EL�mC�m�@LEGBmLRJp�qkw.�B'p�[.��DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�p�@LNJpDHG@J'

"�'�j)L�%���s�����`������R r������������� n������pH�jPNP�kjPJ}L� PomBCJO� @mDEJEI� K?Oe@GCEJp� ?~mMmSCm� TFmK?@RGCC\p� NeoRmOLMm�� S@LEGBmLRJ�5b<7�F�5OBL�Cmp�@m|�CJ@J�J+����d������%-D�4/�FJN'�Z�*�Y�m�kpqkwZ�B'p�Z.Z�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'� jjL� "�����Wx ��H� �� ���� ����o �� n���s�� X���s����s����ytWs� �� ������W� r� '��������S�Wo�� t� '� ��X�����'� r�� i���W��j(�����r�p�jPNN����(j�n�X��p�jPNK����XL��G�NmKNmRICG�FJKLCC\�@mDEJEIom?QBL~m��n.[�?Dmop�\Om�TLQJCeRJ�CL�EGBJE?Bm��0GBC?NmRIDIO?��?OBeQJ'�6Bm@E?Q?p�N?KLf�C?Fm�KLCm�NB?�D@GBEI�oRJTIO?�q���CGFmK?@JH�N?FDELCMmFp�\OmTLQJCeRJ�CL�EGBJE?Bm��?OBeQJ'�qkw[�B'p�lll���*�.Zw�DE?B'p�EFGBKL�?oORLKJCOLpmRUDEBLMm�'

"�'�j}L�"���p����W������v�������Xn��%# � �d! ���pe�H�@mDEJEIFJKLCm� O?@LCK?U� F?fCC?�� ?OBeQJ� O?B?EOm� ?NJDJ� o?�F� FmKKmRmF� 528�*�/JD?C\��FmK�RJDE?NLKL�qkZ��K?�DGBNC\�qkZ[�B?Oep�TomBCJO�NmKNmRICJH�NmDGCI��& ��� ���% ����*�FJKLCJS�T�NBJF?Ke�N+\EJBmWW\�528p�F�qkZn�B?Mmp�*EL�mC�m�K?Oe@GCEJ�S�@LEGBmLRJ�QBeNJ�528��/JD?C\�'�qkwk�B'p��[.�DE?B'pEFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�j(L�#���' x ���k�#���' �� ���X�W����� n�����o�H�Y��� ��W��WX�d]X��� e��R��� ' ���b n����n���*�@mDEJEI�KGCCJO�MI?Q?FmKKmRe���5KLBCJOJ��Zp�kZ�L��TL�WLD�FmK�|?FEC\�qkZY�K?�.Z�|?FEC\�qkZn�B?OepFGKGCJS�oeCWe|CJ@��XeBOeC?@�p�T�GNmR?Q?@�X?QKLCL�beOL���4OLRJ��'�6CJQL@Lf�ELO?|�BmTCm�K?Oe@GCEJ�D?ECm�*�DNJDOJ�F?\OmFp�Q?DN?KLBDIOm�K?Oe@GCEJE?}?'�qkwY�B'p��n��DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�jNL�#���' x ���k�#���' �� ���X�W����� n����Xn�H�Y��� � �����X'��� �*�@mDEJEI�KGCCJOJ�D?EGCC?Q?��6BJRLWL���`B?DRLFL�6?MI?ROL�T�qkZZ�m�qkZn�B?OmFp�NB?K?F|eFLCm�N?�S?Q?�D@GBEm�D?EGCCJ@��XeBRLO?U��<?R?KJ@JB?@��JQGRIDIOJ@�p�KGCCJO�D?ECm��6BJRLWL���FGKGCJS�oeCWe|CJ@�1BGDE?@���m�K?Oe@GCEJ�?o?H�D?EGCI'�qkwn�B'p�.Y.�DE?B'p�EFGBKL�?oORLKJCOLpmRUDEBLMm�'

[ZY

"�'� jJL� �������� �� `W''�����H� ���n�� � ��'��� ��� �W��WX���� ��n�� �� r��i���p� d%# S��W�e�� ���n�� L� 8FE?B�*� OJ\CJC�*?N?FmKLf�NB?�DF?��NGBG|JFLCC\�FmK�FJoeHe�FmSCJ�qkZq�B?Oe�K?��TFmRICGCC\�T�528�m�BGSKe�CL�PLHmK�F�qkZ[�B?Mmg�@?omRmTLMm\�K?�d8p�Cm@GMIOJS�N?R?Cp?OeN?FLCJS�6J�Fp�eWLDEI�e�NmKNmRRm�15:@p�OjB�FK'�528��15:@��F�6LBNLELHpDELB�JCDIOL� �O?RL� 528p� @LCKBJ� N?� 2?KmRRm� S� OjB� FK'� ?D?oRJF?Q?NBJTCLWGCC\��528j4HmK�'�qkwn�B'p�.YY�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'� jzL�#W��W�W�mX��� � r����r�����s� %���s� &� jPNJ� k� jPNMLPomBCJO�@mDEJEI� NGBGKBeOJ� ELOJH� NmKNmRICJH�|eBCLRmFg� �'��&� &� ��/S� �&��/ R�d������&��� &� ��/ R�d������� m ���������� <Dm� WJDRL� MJH|eBCLRmF� DeNB?F?K\EID\�LCQR?@?FCJ@�BGTU@G'�PomBCJO�@Lf�DELEEU�NB?mDE?BmU�NmKNmRIC?��FJKLFCJW?��Km\RIC?DEJ�CL�PLOGBT?CCm�EL�8OE�?DOLB|GCC\1'�/GoGK?FJW'�qkwn�B'p�Y�w�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'� jML� �n�'���W� � ����p� X���s����n�� �W��Wp&jPNz�k�jPNML�PomBCJO�@mDEJEI�NGBGKBeOJ�NmKNmRICJH�FJKLCIgE�&�S�����/�� ������3�� ����!�����& �����/��,���&�4�4/E�&�������&�����K ���d� & -���.��/ O�1� ��& ��� ���1���/ �� ,�����) (� ����� � ��&�������������&�qkww�B'p�qk.�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�jKL�����������n�X���%# �d`����pe���� n�����o�H�Y��X'��� &r�W� � ��� �uWtW��W� �X�W��tWsL�=mDEJEI� NGBGKBeO� NmKNmRIC?Q?� FJKLCC\O?@LCKeFLCC\� QBeNJ����) ��������/� TFmEJ� O?@LCK� ELOEJWCJH� FmKEJCOmF528�S�TFmEJ�O?@LCKJBmF�FmKKmRmF�EL�NmKFmKKmRmF�528p�.Z�0<�528��=LOmFOL�'qkk��BmOp��.w�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�jPL�����������n�X���%# �d`����pe���� n����Xn�H����' � &�����W� ��� � ����p� W���� i��S'�'X����n�� ��������XL� <ORUWLf� TomBOeCLBJDmF�m�DN?@JCmFp�KBeO?FLCJH�e�NmKNmRRm'�=LS|G�FDm�DN?@JCJ�CLNJDLCmDELB�JCL@J�m�F?\OL@J�528�}G�CL�5OBL�Cm�Lo?�CGQLSC?�NmDR\�NGBGH?Ke�CLG@m�BLMmU'�qkk.p��[n�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�})L�#���mi �����d!W��� �X�%# e���� n�����o�H�jkjP���' L�6CJQL@mDEJEI�N?OL|WJOJ�NDGFK?Cm@mFp�NBmTFJ}p�QG?QBL~mWCJH�CLTFp�mCDEJEeMmSpN?LToeWCm� DNJDOJ� LFE?BmF� EL� CLKBeO?FLCJH�@LEGBmLRmF� S� mC�m� KLCm� NB?NGB�JH� qk� E?@mF� �/mE?NJDe� 528�'� qkkZp� [.w� DE?B'p� EFGBKL� ?oORLKJCOLpmRUDEBLMm�'

"�'�}jL�%# �����W�W��W'�t� �����X'���W�&�jPNj�k�jPN(���� n������pHZ������jPNj�k��������jPN(L�6CJQL�@mDEJEI�TFmEJp�@G@?BLCKe@Jp�L�ELO?|NGBGORLKJ�eOBL�CDIOJH�K?Oe@GCEmF�KR\�MGCEBLRICJH�N?RmEJWCJH�m�N?RmMmSCJHeDELC?F'�qkkqp�.nq�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�}}L�%# �����W�W����� �����X'���W����� n�����o�H�RW����� ��X�������� ���s�̀ �X� �dRW��eL�=mDEJEI�FJB?OJp�TFmEJ�EL�O?BGDN?CKGCMmU

[Zn

<mSDIO?F?Q?�DeKe�1NGBLEJFC?��QBeNJ��<mDRL��TL�NGBm?K�FmK�EBLFC\�K?�FGBGDC\qkZn�B'�qkk.p�Y.n�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�}(L���� i�����W�����%# H����X'��� &�'����Wp �W����n�� L�XmRI�LWLDEJCL�OCJQJ�*�MG�DN?@JCJ�DLCmELBmFp�@GKJOmFp�RmOLBmF�S�mC�JH�NBLMmFCJOmFDLCmELBC?��DRe|oJ�S�5OBL�CDIO?Q?�dGBF?C?Q?�ABGDEL��5dA�'�<�OCJTm�EG|N?@m}GCm�NmKNmRICm�K?Oe@GCEJ�S�om?QBL~m��NBLMmFCJOmF�5dA'�qkk.p�Zw��DE?B'pEFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�}NL� V��p� W�i �H���n���#�����X��%U&�jPN}�k�jPNzL�5�MmS�OCJTmNGBGKBeO?FLC?�Q?R?FCJS�N?RmEJWC?jmC~?B@LEJFCJS�|eBCLR�2B?F?Ke�15:CL�5OBL�CDIOJH�PG@R\Hp�}?�N?\FJFD\�F�B?OLH�qkZ.�*�qkZY'��eBCLR�@mDEJFFL|RJFm�mC~?B@LMm��NB?�o?B?EIoe�528p�Cm@GMIOe�EL�B?DmSDIOe�?OeNLMmSCeN?RmEJOep�B?TFJE?O�eOBL�CDIO?��N?RmEJWC?��Ke@OJ'�qkk[p�[k.�DE?B'p�EFGBKL?oORLKJCOLp� mRUDEBLMm�'

"�'�}JL�#W��W�%# L���W�����W���&���'�� i������3pr�� ��r��������y%# L�PomBCJO�FORUWLf�CG�EmRIOJ�FRLDEJFm�NmDCm�F?\OmF�528p�LRG�S�eR?|GCmNmTCm�G�F�EUB@LH�m�O?CMELo?BLHp�WJ�eR?|GCm�CLB?K?@'�PomBCJO�@mDEJEI�EGODEJNmDGCIp� �H� FLBmLCEJp�@GR?KmU� m� FLBmLCEJp� L� ELO?|�KLCm�NB?� DL@e�NmDCUp� ��LFE?BmF�S�?DNmFeFLCJH�e�NmDC\H�QGB?�F�WJ�N?Km�'�PomBCJO�@Lf�N?CLK�Y���NmDGCIWJ��H�FLBmLCEmF'�qkknp�AA>5�[[Y�DE?B'p�EFGBKL�?oORLKJCOLp�C?EJ'

"�'�}ML���'���#�������H����%���s�X&�r��ss���y�����n�� L�8FE?B�*F?RJC\O�*�?N?FmKLf�NB?�DF?U�Km\RICmDEI�FmK�FJoeHe�FmSCJ�e�qk�k�K?�FmKH?KeCL�PLHmK�e�qkZ['�4N?WLEOe�LFE?B�oeF�Km\WG@�15:�4LBCGCDIO?��?OBeQJ��FmKDmWC\�qkZ.�F�NmKNmRRm�p�TQ?K?@�*��G~?@�Q?DN?KLBDIO?Q?�FmKKmRe�a<1�528�PLQBLFL�p� FmK� RmEL� qkZ�� *� b<a� �N?Em@� 6<a� 528j2mFCmWp� OjB_'�6R\WOmFDIOJS�� m�FmK�RmEL�qkZZ�*�DELB�JC?U�KR\�?D?oRJFJH�K?BeWGCINBJ� b4P4�5b<7� NmK� OGBmFCJMEF?@�='� /GoGK\'� qkknp� .nk� DE?B'p� EFGBKL?oORLKJCOLp�mRUDEBLMm�p�@LNJ'

"�'�}KL����Wp����i �H�" �pi�����Wn�����' � L�8FE?B�?N?FmKLf�NB?DF?��NGBG|JFLCC\�FmK�FJoeHe�FmSCJ��FmK�qkZZ�K?�qk[��*�F�NmKNmRRm��K?�DF?Q?NBJH?Ke�CL�G@m�BLMmU�e�qk[Z'�<mK�qkZ[�oeRL�KBe|JC?U�<'�bLRLDJp�TLDEeNCJOLNB?F'�15:�PLOGBT?CDIO?Q?�OBLUp�FmK�qkZn�DNmFB?omECJOL�b142�F�6LBNLELHpm� FmK� qkZw�*� NB?F'�15:�2P5P'� 8FE?BOL� NGBGoeFLRL� BLT?@� T� CJ@� CLPLOGBT?CCmp�F�6LBNLELHp�CL�<?RJCm�S�CLOmCGMI�*�e�EUB@m�6�X�e�6JfFm'qkk[p�Y���DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

"�'�}PL�V����`���� 'W���d#�W�e�H�d��y��t� ��'�W��k�X��p� �%# e&MG�B?TN?FmKI�eWLDCJOL�NmKDELB�JCDIO?���O?RJ�528�F�6LBNLELH�EL�B?S?F?Q?F�D?ECm�5j>��kZ�p�NB?�S?Q?�o?S?FJS��R\H�F�528�FmK�?DGCm�qkZ��K?�?DGCm�qkZnF�6LBNLELH�EL�CL�/G@OmF}JCm'�4N?QLKJ�KLUEI�MmOLFe�OLBEJCe�mT�}?KGCC?Q?|JEE\� N?FDELCMmF� EL� �HCmH� O?@LCKJBmFp� \O� EG|� NB?� FL|OG� DELC?FJ}GeOBL�CDIO?Q?�CLDGRGCC\�CL�MJH�EGBGCLH'�qkkkp���Y�DE?B'p�EFGBKL�?oORLKJCOLpmRUDEBLMm�'

[Zw

"�'�()L����������W����������������� ��H���Wr��'W��r�Wr������n�� L6CJQL�@mDEJEI�KFL�DN?QLKJ�4EGNLCL�4EGoGRIDIO?Q?���ABmCL��p�OjBL�0<�528.Z��=LOmFOL��*��6BmTI�D@mH�TLRmTL�p��PJ@?U�F�oeCOGBm��EL�DN?QLKJ�1RGODJ6?C?NLKDIO?Q?� ��1DEB?FGBHL���*��4N?@JCJ�W?E?F?Q?�528�1DEB?FGBHL�'8FE?BJ�?N?FmKLUEI�NB?�DF?��Km��F�528�FmK�qkZZ�K?�qkZk�B?Oe�CL�/G@OmF}JCm

EL�_B?Q?oJWWJCm'�.���p�[[.�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

*������ ��P�&���������������������UO��������Z*^Vb

"�'� }zL� %���s����� `������ R r����� ������ �� n�� i�������HY��X'��� &����n�� �W��W�n��uWsL�PomBCJO�@mDEJEI�NB?E?O?R�<P�5b<7p�K?N?FmKICL�MI?@e�To?Bm�S�mC�m�K?Oe@GCEJg�FJomB�T�RJDEeFLCC\�NBGTJKGCEL�5b<7�6JBJRL1DI@LOLp�NGBGQ?F?BJ�T�N?RIDIOJ@�NmKNmRR\@p�5Q?B}JC?U�S�7e@eCmfUp�DRmKWeDNBLFe�=JO?RJ�EL�2GEBL�_e|JH�S�mC�m�K?Oe@GCEJ'�5�OCJTm�ELO?|�DN?QLKJWRGCmF�5b<7�S�mC�JH�?Dmo�NB?�eEF?BGCC\�EL�Km\RICmDEI�5b<7'

��'�� ������ i� ���W�� ����%# ��dY�� W�e�H�@mDEJEI�?QR\KJ�SK?Oe@GCEJ�NB?�Km��528�CL�A?R@}JCm�S�2mKR\��m�F�qkZ[�*�qkZw�B?OLH'=m|�K?Oe@GCEL@J�*�TFmEJ�A?R@DIO?Q?�0<�528p�HB?CmOJ��KGCCJOJ��D?EGCI528p�TFmEJ�Tm�TeDEBmWGS�NBGKDELFCJOmF�528�T�NBGKDELFCJOL@J�N?RIDIO?Q?BGTJDELCDe� T� <m:je� ��<?RIC?DIMI� m�:fN?KRf�R?DIMI��p� TFmE� mT� TeDEBmWm� TLCQRmSDIOJ@�O?BGDN?CKGCE?@p�BLK\CDIOm�K?Oe@GCEJ�NB?�KGN?BELMmU�eOBLj�CMmF�K?�4747�EL�mC�G'

��� i�����W�����%# H����X'��� &�'����Wp �W����n�� L��� n����Xn�L<GRJOL�WLDEJCL�OCJQJ�*�MG�DN?@JCJ�DLCmELBmFp�@GKDGDEGBp�@GKJOmFp�RmOLBmFm�mC�JH�NBLMmFCJOmF�DLCmELBC?��DRe|oJ�S�5OBL�CDIO?Q?�dGBF?C?Q?�ABGDEL�5dA�'

���n�� � V����� `������� �d��se�L� 6CJQL� @mDEJEI� DN?QLKJ� �4?��p�4NLBELOL�p��PGC?CL�4G@GCmFL��EL�mC�JH�WRGCmF�FmKKmRe�528�OjBL��XBJR\�'<�OCJTm�ELO?|�N?KLUEID\�?NGBLEJFCm�TFmEJ�OjBL��XBJR\��EL�OjBL��bL@LRm����2GBG\DRLFJ�>��EL��2GBG\DRLFJ������T�0LOEJWC?Q?�<mKEJCOe�528��7?TE?WW\�'

\�����x ��&�!y��iW�x ��&�"�'�oW�x ��L�6CJQL�@mDEJEI�K?Oe@GCEJm�@LEGBmLRJ�.n�0<�528��XLDEm?C��EL� ���1OBeQJ�15:��XLEeBJC��TL�B?OJqkZZ*qkZn'�=m|�K?Oe@GCEL@J�ELO?|�HB?CmOJ�FmKKmRmF� �=GDCJOJ��.� m�PpCLOLTJp�BGfDEBJ�EL�DNJDOJ�FmKKmRmF'�6CJQL�ELO?|�FORUWLf�DN?QLK�D?EGCC?Q?�0eWm��S�N?RmEFJH?FCJOL��aGBG@GEJ��EL�DN?QLK��<eDL��m��6?TLOL��T�N?W?EeOjBL��PLRmTC\OL�'

#���mi ����� d!W��� �X�%# e�� �� n�� }H� }jk()� ��' � ��� jk}� ��' ����s����WsL�6CJQL�@mDEJEI�N?OL|WJOJ�NDGFK?Cm@mFp�NBmTFJ}p�QG?QBL~mWCJHCLTFp�mCDEJEeMmSp�N?LToeWCm�DNJDOJ�LFE?BmF�EL�CLKBeO?FLCJH�@LEGBmLRmF�SmC�m�KLCm�NB?�E?@J��/mE?NJDe�528��DELB?��EL�C?F?��DGBm�p�\O�ELO?|�OCJQJ

�2?FDELCDIOm�@?QJRJ�p�q'

[Zk

Z��� ��������� �� ���� �&���������� ��%����K�������������)���&�����Q���'�������N����� �� ��(�%�����&����^������(����Z���������M��� ����̂ Q� ����Z�� �����������������

!������ �Z��������� �����������������UO��������Z*^Vb

jL�R ����p�̀ �����n����'���X����p�%# L�6CJQL�@mDEJEI�ELOm�FJKLCC\g���0,��./���q�*�Yp�qkZ�p���& ������/���q�*�Yp�qkZZ�*�qkZ[p�-���.� ���%������/��q�*��p�qkZ��*�qkZ[�EL�J�%�&�%���&��������)�����6J�F�*0?B?CE?p�qkk[p�Zw.�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

}L� R� �� W� #�W��pH� %# � ��� r��Wp� jPN(� k� jPNNL� Y��X'��� � W'����Wp L� 6CJQL�@mDEJEI� K?Oe@GCEJ� b?R?FC?��6?@LCKJ�528j2mFCmW� ELK?Oe@GCEJ�<mSDIO?FJH�1OBeQ��PLQBLFL�p��X?QeC�p��0eBmF��EL��0UEUCCJO�'

6J�F�*�0?B?CE?p�qkkkp�n.Z�DE?B'p�EFGBKL�?oORLKJCOLp�mRUDEBLMm�'

M���_�&������������������������b

(L�Y��X'��� �_���#���%�������n��Wr�tWy������� �r�X���s��� '��tW�����S� r��� '� �X��'� X� N)� k� J)S�� �����L� PomBCJO� @mDEJEICLSN?FCm�G�TmoBLCC\�K?Oe@GCEmF��6�62�o�5�*N?DELC?FJ�T+�TKmFp�NRGCe@mFN?RmEoUB?p�?BQoUB?p�DGOBGELBmLEep�\Om�DeNB?F?K|eUEID\�mC~?B@LEJFCJ@JTLNJDOL@Jp�N?FmK?@RGCC\@J�EL�K?FmKOL@J'�5�OCJTm�ELO?|�NBGKDELFRGCm�RJDEJp

DEGC?QBL@J�TLDmKLCI�EL�FJDEeNmF�WRGCmF��6�62�o�5'

����UO�������Z*^V�S����������

[�W�� ��X�� t� �L� ���n�� � ���� ' �X�L�8FE?B�*� F?RJC\O�*?N?FmKLf�NB?�DF?U�B?KJCe�EL�NGBG|JFLCC\�FmK�UCLMIOJH�B?OmF� �OmCGMI��jH��K?�FJH?Ke�T�eF+\TCGCC\�F�DGBGKJCm�[�jH�B?OmF'�8FE?B�f�DJC?@�CLWLRICJOL�ELoe�528�N?RO'�/G?CmKL�4EeNCJMIO?Q?p�BLT?@�T�\OJ@�e�qkZ��B'�Nm�?F�K?528p�KG�CLFWLFD\�e�DELB�JCDIOmS��O?Rm��_Be|JCCJOJ�'�2mDR\�LBG�Ee�FqkZZ�B'�N?CGFmB\FD\�N?�EUB@LH�m�ELo?BLH�7LK\CDIO?Q?�4?UTe'

G���&�����0K��0�-���.����������0�������������� ����� ��&� ���������� ��

@�:6~h*�=L~LAL�L��L�R���PM&�*+.+�8/�d�e

:8�8/+8&�6/+.��8&���z����M&���/.9.

d!V"�#$��%# e�R��T�T{V��C:?<C?:

PLH?KL@J� 8K@mCmDEBLMm�� FJKLFCJMEFL� �/mE?NJD� 528�KGELRICe� mC~?B@LMmU� � LCQRmSDIO?U� @?F?U� NB?� FJKLCC\� ELDN?BmKCGCm�@LEGBmLRJ�@?|CL�TCLSEJ�F�@GBG|m�>��������TL�LKBGD?Ug

�++�H�����LW/�8F4,2LG8��G8��,�G�.1�1�+8-52SF-.��/9,�L�+�1

�\�mC~?B@LMm\�DORLKLfEID\�T�W?EJBI?H�QBeN'

q'�<DEeN�K?�DGBm��������%� �������������������p�\OJS�KLf�TLQLRICmmC~?B@LMm��NB?��/mE?NJD�528��EL�MmRm�FJKLFCJMEFL'

.'� >C~?B@LMm�� NB?� TL@?FRGCC\� �1�%����$� ��u���"�����p� \OmKLUEI� O?B?EOm� mC~?B@LMm�� NB?� O?|CJS� E?@� DGBm�� EL� \O� �HTL@?FR\EJ'

�'� 6CJQJ� �/mE?NJD� 528�� �����-(���� �� �����p� KG� NB?O?|CJS� E?@� N?KLfEID\� CG� EmRIOJ� N?FCL� omoRm?QBL~mWCLmC~?B@LMm\� �EJEeRICL�DE?BmCOLp�KLEL� m�@mDMG�NeoRmOLMm�p�WJDR?>�hip�MmCL�EL�BGKLOE?B�OCJQJ�p�LRG�ELO?|�N?FCJS�EGODE�FDEeNC?�DELEEm�EL�BGTU@G�@LEGBm"RmF�E?@e'�0GODE�mRUDEB?FLCJS�TCm@OL@Jp\Om�TCLH?K\EID\�F�OCJTm'

Z'�4N?BmKCGCm�@LEGBmLRJ���� "��%��"����" ��'�5�MmS�QBeNm�N?KLCmNeoRmOLMm��mC�JH�FJKLFCJMEFp�}?�FmKC?D\EID\�K?�EG@J�528�ELToB?SC?Q?�NmKNmRR\�F�5OBL�Cm'�P�WLD?@�EeE�BGfDEBeFLEJ@eEID\FL|RJFm� mC~?B@LMm��NB?�eOBL�CDIOJS�FJTF?RICJS�BeH�ELO?|�meOBL�CDIO?U�@?F?U'

��� ������1� ��d������. ��'�� 0&������ � �� ���� ������� �����.�

=JO?RL�6eRJO�*�F-.�/,+G8�LG.

�,��������.�

2GEB?�V'�2?EmWCJS�*���+�G�-�/,+G8�LG.

8K@mCmDEBLMm\�F�5OBL�Cmg��1�+8-52��,�+,-LG8�

]X��'����pi�W�r���W�nX� �i ��iW�������o��� ����pL

2J�mEI�CL�N?KLCm�LKBGDJ�Lo?�ELO?|�CLg

F-.��/�8F4,2LG8�

�]�aYU UU\���!$^UV��R�\�VR�%# �R��^ �l�� U YV��

"�R �$�"R ���!$^UV��R�\�VR�%# �W'L�`TUL����L�" � � �Z%#�$U�$�R��^ �l�� U YV

R$Y RU$Z$l����V"T"�d!V"�#$�%�%# e

��J�,c��/L�J�)��/�����1/����1��/A�_����/L�G�����/R����!���� ���/L�!�&���(��/L�!�1��/J�!���/L�!����/4�!����/R�S���/L�L�g� /��L����/��E�&��/��E�&�����%/

J��� �(���/4���������/L������ ���/������(��%/L�4�������%/R�4� ��Kj���/������(��/a�������� ���%/L�O����/L����O���/

S�O�����/������/i���������

�'W�W����tWpHL�!����/����1��/4�!����/L�L�g� /R�4� ��Kj���

�����H@�:6~h*�=L~LAL

�L�L�R��&�*+.+�8/�d�e"��8/+8&�6/+.��8&��z����M&�D./.9.

TS�.�1H� F-.�/,+G8�L��

�'W�W����tWp���%���s�WHS� ����/R���D��0��

�����H"r�R�d!W��� ��%# e

�L��Wt��� i�&�z�M&�MP)))&�!�W�&�%���s����L�u�����)(}}��M}SN)SzN

TS�.�1H� 1�+8-52��,�+,-L���

:LeO?FG�FJKLCC\

/>01234�56789:4;619�21<408:4;619�87=>9

"�'�()

�������������� �� ����W���

��������������� �� �������������

��V�����V��� !V�

<DEeNCL�DELEE\�EL�BGTU@G�LCQRmSDIO?U�@?F?U

/mEGBLEeBCG�EL�EGHCmWCG�BGKLQeFLCC\

R����S����&�(

6?@N+UEGBCG�DORLKLCC\�R���L�� ���&

AeK?|Cf�?~?B@RGCC\������%���1��

2mKNJDLC?�K?�KBeOe������������'��?B@LE�Y.�H�k[�qsqY'

2LNmB�?~DGECJS'�_BeO�?~DGECJS'5@?FC'�KBeO'�LBO'�Z�p['�1oR'jFJKLFC'�LBO'��qp�'

:LORLK�[���'�PL@'������'

<JKLFGMIg�"r�R��!W��� ��%# �

���L����&�(�/��N/N"bbb/S�&�&/-���.�������d�� ZbMPP[NPKUbK�U\Kvo*w� w*8:V?l�u7987V� �v

:LKBeO?FLC?�T�Q?E?FJH�KmLN?TJEJFmF�e

������������� ������������

������������������

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

���������������� �������������������������� �������������������

�������������������������� ����!��"����#����� ���$���#���������%���#

�������� ��������������������������&�#����������������� �������

'������ ��������(���������$��#���������������&�����)�����"����*���"�

������%�+,�������������(�������(&�������,,�����-(��.���&���������&#����

�����#��������%���//�������(�012/���#���������������������%(�

3�(�������%(����������������������������������-(�����������

4��������������(���������(�#����������������������������������

��������567�#��������%�����3�!��, �����$���������������(��������

����(�#���� ,�� ������������ ��������� �������������(������ (��� �&��

��������

����� �������������8������#�&����.5)��$����������������-(����

������,� 9������� �����:� ��� ����%��,� 9;����:� �"����� �#��"���� #

������������7������,�'����%���901<=�>�01<1:�����&�"���������%����

#���� �!���� �� 3������ ��#��,� ������� ��� 5���,�����#� 4�����#

5��������������'"������9)���&&���:�����0121�������������,���������

?���?�,��@����5���,�����������������������%"����#��#�����%����9%��"���

������+����������?���������-+������(����������.���������

'#��":�������#���������%����$���(��������#&�����#������������)��������

���%�� �����(���� �����%���������#�� ���#&�� ��%����,� ��� ����#"&�

���(��=2���������(&�����������A��#�5���,�� �>��;������#����

�����%�� ���#���������%�(����7�%�(%�,�3�(&���5���,����,��#���#����

01B2�����(�#�&�"���������,���������3�������&����)�#���C��������

����D��&������&�"�������������������01E<�����$���������������(���

�F��#� ��(� ������ �#���#�� � ���� �����#���G����� 4�������5���,�%���

F���#�����(����#����� ����������)CD���� ������ ��������������������

����?��� ����%���� 3�(� 735�� ����#���� ,,� $#����� �H���?��� �

6�����(��(�������#����(����#����������� ��������6�(�#��������������

������������� ��������#�������(���;�����#�567 �

���� ����������� ������� �� ������� /E� ����(� 011=�� ��� �

�������#�������#������#����(�����?��������6�����I��6��&����

���������������545�������������;�����#�567 ���������������������(

���#����������� ��J"����������%�"�������������������#$����>

������7��(���� ������������@�����$���(�������&����������������

��(� ������(� �������� ��������� ������ �� �� (���� ������� ����� ������

��%�����������(���������%(��)�����������������������������

?�����(���������K�7��(���� �����������>�������G���*����C���?���

>�������������$��.���*���#����>������������*����.����&�>�&�����!������"

���(�"��������������%��(���������������(�?����������$��.����

*���#���#�����#$�����$����

������4������&���L�������������������� ���������������

���� ����� �� ��������� ��%�,�� 5�C�����>� ����� �A��#�5���,�� �

4�������.����"�� ���'������������� 4� H�������>� ����� ������

4������� �������������5���������������"���,�>���������������*����

�����&#�����,,��#$�;����5�M�����&������������������ ��;��(�.�����

�� 4�������'��#�� 9L#���%�(� �4�( :�� )��$����� ������� ��� ���$���

��$�����?������ �� #� ������������� ������ �#�� ,,� �������� ����������

?������������ ����������

������������#��(�������������;�����#�567 ����?�������6����

I��6��&���8�� ��(�� ��� ����� ��$�#� �� �����������#� ����������#

?#��%�"��F����������� ���������� ��(&��� ��������6��&��#� ��

��������#���?�����#����%"������(�,�%(����$�������������(�������

)��%��#����%���&��������������#����8����#���(�#�#���������

(�������#������������&�����(����(���%����#��;�����#�567 �

���������������� ��������