CCSD3ZF0000100000001NJPL3IF0PDSX00000001 PDS_VERSION_ID = PDS3 /* FILE FORMAT AND LENGTH */ RECORD_TYPE = FIXED_LENGTH RECORD_BYTES = 2612 FILE_RECORDS = 2833 LABEL_RECORDS = 2 /* POINTERS TO START RECORDS OF OBJECTS IN FILE */ ^IMAGE_HISTOGRAM = 3 ^IMAGE = 4 /* POINTER TO THE TABLE CONTAINING ORBIT LOCATIONS */ ^TABLE = "55S328OR.TAB" /* IMAGE DESCRIPTION */ DATA_SET_ID = "MGN-V-RDRS-5-DIM-V1.0" PRODUCT_ID = "54S333" SPACECRAFT_NAME = MAGELLAN SPACECRAFT_ID = MGN INSTRUMENT_NAME = "RADAR SYSTEM" INSTRUMENT_ID = RDRS TARGET_NAME = VENUS START_TIME = "N/A" STOP_TIME = "N/A" SPACECRAFT_CLOCK_START_COUNT = "N/A" SPACECRAFT_CLOCK_STOP_COUNT = "N/A" PRODUCT_CREATION_TIME = 1994-11-21T14:34:28 IMAGE_ID = FL55S328 MISSION_PHASE_NAME = {"MAPPING CYCLE 1", "MAPPING CYCLE 2", "MAPPING CYCLE 3"} /* DESCRIPTION OF OBJECTS CONTAINED IN FILE */ OBJECT = IMAGE_HISTOGRAM ITEMS = 256 DATA_TYPE = LSB_UNSIGNED_INTEGER ITEM_BYTES = 4 END_OBJECT = IMAGE_HISTOGRAM OBJECT = IMAGE LINES = 2830 LINE_SAMPLES = 2612 SAMPLE_TYPE = LSB_UNSIGNED_INTEGER SAMPLE_BITS = 8 SAMPLE_BIT_MASK = 2#11111111# CHECKSUM = 404972671 SCALING_FACTOR = 0.2 OFFSET = -20.2 MISSING = 0 NOTE = " DN = 5 * (MIN(MAX(RV ,-20),30) + 20) + 1, where RV = specific radar cross-section divided by the Muhleman Law value, SIGMA0(THETA) = 0.0118 COS(THETA) / ((SIN(THETA) + 0.111 COS(THETA))**3) where THETA is the scattering angle." END_OBJECT = IMAGE OBJECT = IMAGE_MAP_PROJECTION ^DATA_SET_MAP_PROJECTION = "DSMAP.CAT" MAP_PROJECTION_TYPE = SINUSOIDAL MAP_RESOLUTION = 1408.1316 MAP_SCALE = 0.075 MAXIMUM_LATITUDE = -54.00000 MINIMUM_LATITUDE = -56.01000 EASTERNMOST_LONGITUDE = 330.01001 WESTERNMOST_LONGITUDE = 327.00000 LINE_PROJECTION_OFFSET = 76038.1094 SAMPLE_PROJECTION_OFFSET = -4967.0718 A_AXIS_RADIUS = 6051.00 B_AXIS_RADIUS = 6051.00 C_AXIS_RADIUS = 6051.00 FIRST_STANDARD_PARALLEL = "N/A" SECOND_STANDARD_PARALLEL = "N/A" POSITIVE_LONGITUDE_DIRECTION = EAST CENTER_LATITUDE = 0.00000 CENTER_LONGITUDE = 333.00000 REFERENCE_LATITUDE = "N/A" REFERENCE_LONGITUDE = "N/A" LINE_FIRST_PIXEL = 1 SAMPLE_FIRST_PIXEL = 1 LINE_LAST_PIXEL = 2830 SAMPLE_LAST_PIXEL = 2612 MAP_PROJECTION_ROTATION = 0.00000 VERTICAL_FRAMELET_OFFSET = 2 HORIZONTAL_FRAMELET_OFFSET = 4 END_OBJECT = IMAGE_MAP_PROJECTION END Ý“&ç&'&#'%1/))5,@@KHH[[]Rls‹†—«ÁÃÚ Ds0Ü¤¢o|ª! ¡4›+&t1A@ªQÇe«€Ÿ¯Ãyì_ÏQ¿“Þ¬(rú¶î¸mE¼^¶~¥q¹åìLÁVe_ù,o¶íX˜Ec|1aEÞÀ½W¢ñˆq+].MÜ>÷2l)"qtåEY / â¸ŸýŒ Û²‰Ì°WV1ßÎ³«œˆ~q\PECED0%3(!GOY]_\ZW[]_^\TWXYXQW[`bdhg[UTRSX\\UTTW`^_ab`^[WPOUYYY\ZXRUSOOSVPNQQU\`_UPSQTSPPOMPUXY`abYXZWX^`XJHORSQMLOW_a]PTZZWSKIORPKLUYXTZ[XOLOTTTVUVTSUWX[XTVUUSPSVVZURSTRUUSSTTUY[]`^YUQJHPUTTXVVUVQPSXXQSSRVVKKRVYVQKFBMVWQLKOVWWTOIKKMPPQNPWZQLLHIHLRUODIQOPPHRUWURQSRTSRMUUSSPS]_TFJNPXYX[XNILPLSUTRPMKMJANVYYTWVRUXNOTUNPRVUUYXZWKMSPVXZWRNFKXXUPWVJFOQEGPPKKHMKRamodVSQPKGCLUXXVMJSQNLOPMOUYWRQQVXSKPXTORZZTMJIT\ZNJMRQNILOTVTOHJRXRKORQRXY\]VNPRQJKIOOVYZSNKPMAHOUTMJIQVYYPQUUNMRTNNQG=JQTVVOKNPOFKSRRSVSKEQVMBKPSURNGHMQSX]XNQRRTVUQIIKONOOPQTVMOX\XNKNPX[XSORW[XQGIPWPMMQTXXQKOKGJTTPMS[\^ZUVOFCFNRSPPLGSYUQNYEMYZVOQPRRVXW\YQNMQTVYQRV[VTSNVTKGOXWXSOT\^^XTUQGEVYNFND?MPOPOLMKJGJLRURW_[RNWYPIKCHLMTTIKPQX^[OMQPOPMKIORQRRUQLPVVQX`a]URV^ccb\XY\XNNTY[RPPPV]XNKQVOJOPLGTZVTYYWNEJOX\WYUM[ZWNRTSSCS[XYOQY]]IKQNOMXVTL=?ERPSVXZVWY\[_[WSSQQSTNLKHMLKEDJU[[SIGNRUUQOQWYUTMDJNONROPLLSTQPOHNSWVOKPRJMRQQRRURLDBJRPNLTVNGJJNKLNQJ@KNPUMJMVXVVWVTTNRRWSKQRNMKKQVWSSST\[YYUCLQ[\RHPVPLOX\\[YXXUVSJLWVX_`]XURRUWTVTTQRRNEINNLMO]ROPQSMFLPNQQIIPZ_ZQPTOUZ[WNMMHD@LYRMUUSNTZZQLI?JSVUU[ZXUZXRPWRLPSUWRPNLLKMMHJHCJICFKQVT[]YPINIISYRIIJJRTNOV\TZTVXTHKXSDCLNOT[a`UVNJ;IljdYLppcZMOTOKXOSRXL]]VUWXUVXSRWWXWVMXMTWWOMOSWXZRULPXTSTY`a\VWUYVWVUYUXZSXTRQYTMPUSTTOLYMMNRWVUWWYWZXYNSOWUYZYUSWWWY]ZYRYY[RSUTRSOXWXZ\XS[QTVZW[WSVZPTOQPYZXYZRYZTUX[WXPQTUSVSNPXX[TWX^_\XQZ^XXS[TZQPZMRTQUWWUNRTMQQVYYXQRWUWLZQQVWSZXOXVWSZXPZRORZZ[XWYVRVW[[_^XROTZZYTQNWYVTQOOTVYW]XZXYZ_aYQNPOVUXPWYX\X\`_WWTXYZXNGJUSVVY^ba[bea\YVXW[]`[VSIKXWQSWWPLVZX`b`^^^[VUPHKPWUUWWRLNRROVXWSVU[XSQYXIDLQVYSKFFXXUY^ZVUYUTXXRLPTUVahibXJS[^UNVSMNOOMNQNQSNMMSROCNSQJLLRYWNKUXQSULJTXTMNRLGKNRSOHU^b^VNPVXXXW]]UOKLMPNPMICLWSGGQVTLLOOQSRQRSRSWVURNKTURVVQUTMPRSRXWNNWZWRRVSQWUMHPXSUYXTRRQPUTUPQLLUTX^[SPRPHEJS]`WSUUY\SLORQPRRPVROOPOGDNW\WRVZYXOU\YTQTQOUWTRPLMMJNVZZXXRTZZZWNUUUTSVRQRUVRRXXRHNXOFIPTX]_]XTTOMW[\]\TOPLNKJMMQQLSVNKJI@@DHIPRWYZWSXXMPPQPNONTY[WOLNSQONL\\WQOMNQJAEMOUXVSLNQNNKMNFKUTSQLRXUSMNQRSQVYZWNKSVTLMUTUTSLKOT]]SPTSW]\WSTUROIGJNLGFQ[XRPRSSTXa]VLKOT\``\TNPJKV]\YQNILQMHDFSZTOPX[^\SIQTRMNRTW\YVOPW[NRTUYWRVSX]aZXZXJRVOORXTHJJELHFVYUUOSXVMS]XUSVWZ[VWYTMQ[[QJSVXUKAGMLIIMHLTWVWTRQPSTRRPLQVUQLLUZUOJGJLQVZWRKEINJDLLSSPMTZUIKNKNISYVKEIJKFBHPWUSQNSTPPVXZXWQTXVUOHMXYRTY\XYYWURSVSMO]a\[]_XTY[YXYSOQTUVYXZZXZ\[XSPQNPONOPRVSQQNOPKLLNQLOPRPPMKQVUUSUOMSXYYSNNHHIRTNHMQOPQUYWUVWUSLLPY]VQSRLUYZXXTSSQSOLRPLNMHG=GLEJSY[YSVUTPQNILPPQRSSZaWUVXXWWVXTPLLNGKPOEIW]ZUUXTH>F\bfU]VLX^MUXJXWPXYYTYZWWVSQRMRTYXXPRUWLURU[\YYYTXSNV[WXSV\b]VVQQRPQSUTYVVRPOPYVZZUVTQXUZQRPOPZOYWWUPUWZNS[ZURSPMR[YWVYUUZ\YSRSMLXUUUT[WUQ[NQUVSNMQ[_YPRSTX[UPMSX\ZVXRW[VLPXUQOPRU[XWUWYYWUPY^^[WRQTZ[[YVZWVX[YTSVRVTWYXUTUXZWZSSVYVXOLQWWZXYWSPRRTTUWXYXZTXW]^[YZUZYURUWYSPPRRRWQPVWUUUUZ\_\ZXVPTPQUUURWSSTYX[]\VXX[XRSXZZ[YY[]VR^b^\[XVTQPW\\YZ_]ZTUVTVUQORSZYWWRNRTUUUTWXVVWTMHLQUZc^YVTTTRVZYRMPU\\VVQLUUPZ\VV^_[YY[VJCINUXcfdZNMUQKMSRMQTRQVZVMJRZ^[WSOSUROWVSRULOTPKKGGLRRMKOMHISWSTPQT]\VVU[ZUKNPYYUTOIKRTNQMLU]WUVVQNLPPMOUSNV[^a\[XPGISVOSPPVVLCPRSXZRHRWXSSPHJNQNJLQWYZROW\XVWTQSSKDMLHNTNIPQPKFNXYRYUQVXVNKX\[QOUTSKQSSMGGQPRLRUTSPOVWT[ZUSXXUKKQRRTTTUUWXXWWWZYUUSRKNKILSUWXX[WQJHLGGNPOMQY^`\NJKVZ\YUWRONSZYUXVNDHNLHKNIDJJINTU\\XTQOPMKHBFNNPVVWUMMOLKJOVTIDCDEPNJJMQWVWNEHLLNJOTSLQUXYORTQSSMNOTSUVTWVV[XMGTXVQPJCIMQVVWWYUQTSLINVXPGJMLGEGMNPLQX[UNP[ZSNLLMGHOUNJZYRPMNIMPRNNIIE;OUYXTRXZZLCNXVTQNLPXWWXXWSJFKMQXSJCCJLMUYMN[b]ZSQW[X^XOEIKTVPOSYZXLCJ_kmia[XQMSVPOUXQOJLMRUVWTQOLMDJRPNSTRQPUZZYTMTVWQH?FNRMIFJLOYXXTTTPUNMVZVTNPSPSRVSQIHHPRLLFHPRKDJNJAHMKJFKRVRRQPUZ\ZVPMSQGQ\YUV[\`ZQPVUPR[XVYXOP]_XT\^YWPHHLQWY^beaUKJMLKTVXXX[`YVRUVRPQRUUUVRTTSOJEQ\ZXSLROQUXYWTLMORL@FPUXZWX[WTVTHBHQYXPMVWZ]_\[XXSRSXWPSQJHMPRFHNNOXVTRPLKGNNLIEKLRPLMQcfYXURQWYQQH:DIKLQMNMRU[\ab\R7FXfkbaofhUNT\WRLMYVTPUU][XKKKLUV_c^ZSZQX_dbd`X[]]TZPTTSWVZY]YWUQMMPPOUWRYWUXWTUUWWXVSUXTVW[ZXPZVXXUVQOZXVYUNXZVXTSNTWYZZY\[YTWTSVUXWUXXP[LTYXXWYVY`dgaUXW[VUPRVWWSRUYZV]XZLYZRQXRYMUWTOQSTSRTXX[XZWVYY\VYYYZ\^\XZVSUTNQURUXYSRWUPWZXRXYWY^_ZZYYTSQPMMMLNZXVVXXZWWQVVYXRTXWXKLSTTVWYXUSWZWYXXYWVQUOSRWXXVUUURTUTRYUWVYXU`YZ\_`[WY[[^`_`[YXRLPRTY]ceaYZYOKKTSGCNX\WWSQKVY^_[VVVVRUSOKQS[^\YVSONPUXUTVWXVTSURNTSISZPTWUTTTQWUJLQTY\bd^TUTOIRXRUYVVVX]\VKOY]ZZ\XVXSONVSWVULKKPLEOSTSOONMDCNUUXYVQUSLOQY]YRKKNQQPNJNUSKORQT[]VWWPK[^ZSMSRWY]\ZYWUVUNNNMNPJLUOGNVIEKACKSWYWUTPNMPOMPSXUNOU]_\XPKNOOQTURQSWSOMJORTWVU[[QOZZXUZc^VW]a]RFJROPTTLIKRWWWVQRRUVTILPSUSFMVVUYY\YRRW\WTSKQZ_\JLOOLEMU_b^_WA>>@EMPQTQJRQRSOMVTQUPPV[ZXWVJOWVLGKPPRQPQRUULIT[^WVQPNQSONMPVXXTSUWYRPMHLLRRIILMHEMPJNRVQOKGMNKNMOTTSTXVQNVWTSQPNRTUOLNVWTUVPLQVKIFDLJHDACOQTRPSSSQMKRUPTTURSRPPOQW\VTNOTVPPLJQVSTSLR_^TKNOOJOMQYTLEFJPS[YNOVUSJHQSVRLLWZUSSLMKK@=LRXYZ\XU`e]TXff\NFEOWZ`_TKLKHLGBMOF?JKJVaef_SOORVVSXUNEGINMLSYWRKFPTSX]TGBDAALOSVSPGIUZWQKDKRTKAGQSTTOTZZXVPOXZ\XW[^ZQKKKGHMOMPTTJFMOJIJKA;NRVZ]YVUQJPQTX__ZRKOQOV[XOLOS\]RSWTRRRSYW[]a`[QLS[X[[VPLKPW]_`XNINOJPX]]a]WSQQSXYUOQORUUXUWXVSNLUY\YWQQQMORSWWYTTTPOLSTTWUPVQNUYQNTZ[ZSNNRV[ZWPMIKLSUUSUUQRX[]WTVOJPQLMONLJRPGFILOMPMKALVVPROMSNIE=6CHLTWWVYRPHT_c`\UPT]hfjwXKceSXOSUVXRTUMOOKUTXRPWhi_WTOQWSRSYX[W^\XMWZZMWUW_`a^XSMQTSSX][VUXXZXXZUMSXU[NSVX\WUPTWVYXWVVSXUTUSZSYVSTWUXYZXXZWVYVZXXVVQVWWYXYZW\YYVW]dfb`ZYTWZXVX[VVRPTVYX_[UXYZRXQRUXSVW[YTWSSUZYTRRUTVPPWXXVWVVYYYXYQPWWSRWYVMNPPSVYUYNXVXZYYXWPLLLOTVWVWXZSTUWXVWNWUUVYPTWYRMXWQTXX[UVY\[XVWKWXTLQYUXWROTXWWWWXVSTTTMPWPW[\WPU^a]\[]\PTZYPQQQWX_c`_XVWTRPSRKIX_]RQTTZ^`a^WRYXXZXVUVVQRVQKDJPUZ]WU[^]WQMKJLUUPTTNGBHZ]WRWWOQ[_``]\WMLQSNSVTW]YUY_\VSNLPROW`ZUYWSOIKHPWRKRZYQQTPTUSSTRJPW[ad^SOPQRR\`c\SNFJIVUUQPURNNPOTZ[UONICU^^ZOEJLOPMJMNMRUONUZYVKDKNSZXQKNINQPX[TQW\ZQPRNLIIJLSSSUXYUQMNVWZ]ZSUYYTLIS]a`WRXSPT[]ZU[]ZXVW[_[OHOWZZVNIGJPWUQNPXSSNMPHEKNHO]]ZWV[XSMSZ[TOOLVYQKNOIGNU\gjdUNIKLNQPSYYTSRMMPTUURUVSQRWZ\WMMSUTHKPUXYW[YURROOXVPSVRQQJHJMTUXXSPLOPRONKPXXUOPRSPGBMNHLOJOUPKLNPNOLLLPNNPSSUVSTOLJOSTTXWWULMSRONIFJPUVTOOQRSSWZ\\]^XNMR[_c\VQKLKOQWWSPNLQLLLJILLPOQQ\a`PDOZVOOPT\[URYWNSVZPQY[WWSRUSSROSVQTQPPPPPQPW^_^\c_ca[QWTPOD%9DGKMPV`cUKRL3CBELONJGJSTLJNLLNNLHFPVUSKMSRSWWQOUVVQXXRSSMGDPXUONUWSNH?8BOQM@KMR_a]SRNJKNPW]\VP?CJOTY]`[TT^aZRLJNVXXZdilmlfaZSOMOSSTUIMVWQRPQUUPU[]YVVTOHFLORKENNNOTZ][YYVOJORSOPKH@GFOUTV[`\UVYVVVSRUWRRSNQRWTVYWWWSPJPWXYSTTPRSSSPMORPVZZRNPNKOONPNMNPMG@DKNIKMRULSRLLNWOPG;;FELJOKOOV\[HA@NPY`TD.P_^dx{tgtpgWUVXUKPOTTUOSKSWTUZZaVTRMQSXZ^XZVNNVQZYRROVXVW_b_YXSWXXYWX\[[YVWXVYYWRVWSOQXYZYXQRVVPUXZ[\YVQTXPRTSULYZ][UWXWZZYSOTWXSTXSQXY[WVXY[YbdaYZ[YUOVVZZZQUZZ``XWTZWXZWTQURMZZNRU[X[WWOTWXWY[VWVSQWYWXXSXWXRXUNSWXSNVXPTMYTSUUXVZXXVWYZYZVXURMMNUTTVSZYWVWRXUXWVVURNZWMRV[VYUTXYZXWYXWXUWVWXUYZTTWWUTTXPSQORXUXQOUV[\[UPNVdc]`db\Y]`^ZVPMYZWTQONNUZYVWZRNHT\ZTLMRXXWYWTW[XTQQSWWWRRTSX][VY\VSW\[VWXXVTSQQPUXUOQY\[SSRTR]dd]TJJOOORSJJJQZTQTWZUSMNSSINZZTURPUTKIMQTRV`]VKMTQOKS[\Y[ZXZ`b_RGHIMMW]ZWSNOOOY[ZZXOIEGPTVRKPNGJRZ[TIJJGCDKRQNSTPQTXYSJIIKTZVNMPOONJU\TNQZWRLJKOMFHJOOMRWZZXSUXWX]][XWVVSNTVURMLPSOU[[WWYXVWTSPMOKKRWWTMINPTZXSMP[]]VTSSK?EHKT\a_WKKOSSTTSQQVTWTRVJIEHQRV`heWPOHKLMNOW\ZTQPNKSXXVYYWSRRWXWUVXWWQLNSUSPTTFJVXUHGPVWLKNOPOMLQRRSQLKPQSMDFXZUJCHMONLWZTROIMPOTVWVVQJIJGBFJPLKKKMJHJGHJNNTVWRPWWQOJGLJPTOMRVLHT[a\USSTNQRX]^[MGKOI@@LQTONPTQSXOLQNLNOQW^WHJYc]UKIFJMONQTSTWQPQSQPTTWXVPOKNLEJJNTPNORGMWYSOS\HXQNMMSSECDLHJIQEL\d[FJOLL>HWZVUMDDPQOUXXZ\a`WLNOSWWOLOLMKLNNKMTTPMNQNKELLIE?KSUSIQOJPQOMNTVPNIIMNOWWXRSVVZZTDNUPCANMMNNORPRMEEGGNJCBIPW[XUTSIILOOLLPNJF@DFVcmmd\Z[UWUKLMSTT_cdghccb[UNFHMPRLJQQLJNUYTT[a_SGCNSLIHLJHFPOONHIMPRUUPJLHMSVSSLLPRSUW]STTYYUUVRSVRJMSTPTTPKONPUX[VSNRXXWTQJPV[RNQQPQUWPF?GPOQUTUQOROOPLRNNRUWUOWZUQVZYY[VMKSQWURMMIQNDRLNPXZQLOIg?Xdog]hXUUY_fUTVOMSWNMNXUMW[YMVYNUMYW_^ZYLS[QSVVUWQLQVYWXUXXYYYXWMMV\][[VXVSUVTVYUWPMZSVZWZWPVVTV\_`ZYUOPQXYQMZ^c^YWWWYVZVNORWXWXYPZQY[[[_^^dhcZX[WSVXYX[SSQWZee\WUSNQWTQUXWQSOVWRSXVXMUXSOQSRRXY\YY[VZWWWVYVUTPTVZVQTRRMPNMQUTSWYVWVYVSWVXXYSUVTTVQULOVXWWPVWWVXUURMSTRSYYYWWVRUUUTUXTXSSRSWVVTUUXZYXVWSQNNRZZVXTTVP^^[TLV^]Y[bc\Y^^___`Z\`_\ZYZYXWVSPMRSKIQ[WLGIS[[XYX\[ZULQUTWVSV[Y]^\YZZUQWSOOY^aa\UMKLRUVUUYURNN[_[ZhkdVNPV[YURRRRQLQOMSVSRPMHHMVZUOLEJXZVSXZVV`bb[UTTRMLLUXUPQYTXcaTKQQHGTZSEIINPMQZ\^VKEAMVXSLLUYUSWUXTPTYWQMSXSPNHMOMPTNRTOPOSTSPKEKPPRYVUOKNOMNKPNHGJMOORQWWTTWUNMRSOOJNNMSUTLBDKONRSYSNOSSRLLPQQQQQNQJNPMNQY]]SJILPQRTWYRPTSSUWXVWXULIQPNPQQWXVRLRPIOQOQNMY[ZULEHLMJMMTXWPKKPOSXWRNKJMLILUXXVQOTWUROPJKTVPJQTQOSVVOGJQPTTUTMRUXSRUUWXSCEOVNIVZWYHCUZURNJPMEBLNFLMLPMGCKMQQLKNJCBKHADGNPPKFMSQKHHJKIHKHDMTQR]cb\OHHFFHKRV[\XJIOR?9>HOTQTUPQTVSPJORUXY^\ORbhe\TGA@KRWSPPPROKOJHJOST\[UPOOIIJDFDLMTVKJ]a\MQLNDCCGVP9FQXUPSVVOTY[D=PRUPNSTX[VIIUWXWSOSZgke]UMQPQRRTOQOHFLNOSYXSSUKKQOPHHELQVTKMROPSTTQSSMKPMOONNLPPNOPQUPLNTMJIILMPRPJOROGFMOPMF7@HSY\ZYRQPUWUQPPMKOQMNUdlldWSTUQQNHBENNQVW\]\]ZURKFB>IPSOHCDIIRZYZ`_]]UOTSPMLIQOSWUUYVJJEHJNPSOOLRTVYUXZTUX[XSRXWYRPRMPWUPRVZZSUIERKMQTXZRNMTQQLQVZ^]UNNNOTSOLC@KPOJMUVVNILMNNOMBIQSSVV[VSRTQNSROSRUOZ\YWRMHMVaWSMNBGKMHB8WXZD?SWLTvl[UOXKMSXQTWYYXLTTZPSWW]]ZTTYYQ[YV[\VWWTWXYZWSSVVXYVWQYVWW[][]]VQZLVXSWWNURPYVVZVPSRPVZWXZZXPNXWVNVWYZ[VZZXZRVYQRSQSZYZVMLWZX]]\_c_ZX[[VUUVVRVQXYW_`]XWTQWYTVOOXXWVRTRQTVOZWWWZVXXRS[[XUYZXOMRTYXTSVW\YVTUQXVOSRRSWTPRYWXWWPRVTZWOVWWTSXWUPVWPQLLUWXVWUTYSUVSQTWUWSNYUYV[ZUSRNOUONPSUPQRRSWYXWSWVVVRTSPTUR^[RKV]]UPW]YSRSQSYb_[[^dbXRQNMMUXQMPGLVVSGKILSXZ`d]WUSRQSWWUTXaZPORX[WMPPPPS[[^_]WONQSZY\\]ZWXVY^WV_ecWVWPPSQZVRNJJUYSTWPMPSNLPRSPNMFHNXUOW]UQ[`^]TSPORUUSQVON\aadaXOTUPMU]\VPPMPTUP``[VNJKOXXOKRWRUXZVTTVZ]ZVRTWQJF@GLGIKPPRQROHMRRMKOTZ\VROKJGMKNSSVUOIOPOKNVVTSURSSUQLKMSORVXTHCFQVWXWXMEINUMEJKNPX\]THBKNEJOSTQSNPONOMPZXSQNNRSRUV\WSIJNNIGKKSX[[PKORSRQSOJT]_XPRO>@JONOLJIEFQX[XPLKJRTSPV\[XXY\YUNPNJMQQQPPOOSTRINOUVKNNQRSOUUSSWWUVQJKOMEIUWWQAFHQUXVMNQVYVQRTUQOSRTQV_d`SSUXVUUIHHSQMNSRU_dbXRDHNNTZ\QDFTUOMNNU[^`c[LJS]\TOHRTW]^_ZNKMGJIMONVUNIPUWWYRQZb]WUSUSOMWXWVTSUTPONMJKPPOMQTXZVSID>GTYXUTJLNJJSTPUQKMPSNHMPNJOVTSKLI8>KRY]\]^VMA@>PHGEUPMRUQVSPIE[]VC90*;QTU=-<?EOT[TTJSVQOVQPMSZZVUTYXPYUNRWWTVTSWUU\PLNY\YUSQY\WXUVURNOVZWUXVPUWVRY[VWSNOQPWWYVNPXUYTTQNQW^_\[VVYURZ_`[QZLWWY[WXXYZWUNPPOQX[ZVNTUR[WY[``^[\^YWXTRYVRS\^XXUYUQXWUUWPRVRQXSNRRONQUWWZXW[^WUPWVWQWZVRZVLWXWTXZTSTSLOQQVYXZWSSWYVVRVXXVWURQVYYSSX\\XUVWXTNUUWZXXWRVZYRQXVYWQKOPXYa\VSSMOQQMTUWWWYTMTUXUVZXYUZ`ZXVWVZXSKMQYYQUVRPUUSLNPSPT]`YKMPKNPUZQQTTSYUJJSWSNOX`daWXXXQOYYZZTXVOMOTUOILLIS\[YX\b`[WUSPQVWYQW_`^[\Y]caTTXSEKW[\YRNLNTPMUTOOKMJNNU_^ZSMRQPHRYRLNW]WTNOPQROKOVUNT[[ZWRTWZXVUUYWRNIQWUQSQOIMNOTROPQQLKRQMSWRY``ZRPRLHIFKUTUXWZULOMGJJOTXSNT^[SNOUXTWVWWWTSVZYTNSVTOMONRRLAKRMLKQSQJENMKTVUSRRUTT\VPNPJKSVWSLEGFGS\YIGLSRUWWLNQIDHHORNKQUSICMQWUPQMPVWdcXGINURTXYUX`b^WTLDGMWSOMIIFCOXXUPLIKU[_\SPMSSRRTPRQMGIJOX[YTRRLEFNU[^^UTUTSKILLTYYRMNNOQOLSSOIE>DPOHLLRTYYRORZ[YWWUXRTQIFNRSQNKLKGTZVUURSRIGIKLQV[ZYTQRPGHKT[ULJRPQQRIFDJJHFEBGJIHLMQTROTMEFBADKMPSWTSPP\d^SQSMI@LPKKD=HEKQVWTQSRPQMNIMSQH?BTXVOLPICKV\TPMKZUTZ]RY]^X>(>QOKQR\^]``WQZ[`_]ZWJJSQMIY_SSTVXYMFPOJLPQTTNKU]ZZSQLPVWW\YUIJW^ZQMMHKJO[]ZX[XVWY\\XWVUY[VUVXXWRSQLKGBLSVROLQWURSOOKCCLMQPIJHIKIMLLOTRQTXZXZ[^dbYUVTTY[VLNKEQ^_QER]`^VMPSTW\[VQWYY_XTRQRSTZUSKPYXRQRSTNPRVWTOOMLKMMKPVUYXXRPSPLSVXTRQRSNMRXXTRSZXQCDLSRROOJSUR\\VKBBJRSNJOVVYUUTMQZVOOU\[RSWYSUWSOPTPFKQOW\[VYRKJIJT\YXRTMSAHPWTJET_[M@>HQPOQKHWTSNQNB\LRpqSTVNKLWTU[^if\VRTOVWRKXVVUSTWVOLWWYWQSccZUUXWVPWLOQVSMOVWYTQSSYXYTQORUVWWUW\]\YWV[Ybedb\PPSSV[^XMMWWSS[XWVWWVVXROZTLUZ[ZYWZZ[Y\cd[VVYWYZWXYTTXVYXTSQSOUVWXXYWRW[WWSYXRQWWTYYWWVTZ[_^\VWSWVXZYRV\XWXTPYNMVSTOVXVX[TSUWZWWTWVXYVZNWTOVVZWXXTWYVZXYZVWTQOOOUZZWWZ[XYVWXVU[[WVWVUSRXWWWVVXYONTYXVRVYX\_aZYXUZVZVUNKUWVSPSTQORPKMS[``XPQLOQQNMLJUUTZYQTYWPLKP]`]QMRQNNXYRSVULIPNNRTNQTXUVZ]]XXXZXUM;HR[[VU]_YUVYXY\OLMSMPWWSUXXNIOKJQSQRNJIFOU\ZYUVTVNJKQXWWX\_WUNKOPMNRW[VRXTXXYZ[\^\VUUVSLKJRRSX\OTVTNQOOTULLJLJOUXSSZa]SKSLLSPPTUNUVZVPSUW[WTXZ\SSUTQRTXUTSSUTSNIOUTPPPTPMNNKFIIHNJIMNRYYSNTUMKMKPPPSSV[[VUSSSRSTTQNOI@QVWOBOUYSQQKOUNMMJLQTRXYTKQVQUYYUWURUZZQKMQOVZZYUUZab^VMNQPTPMMLIQTYWUUPNKMNUYXUOOVVMI?KRTQMHIPXWSOPRNOUTONPSVYWUSQVXQMSXRMNRTTQX]\TSQJLPVRLNSTVWRNKPUWY[[WROVMGGPSTWSLJOUSMPRTXZOFOTVYYZ[XXWVQJORX\ZVYVVTXVLDDJIEGNQTVPOLRVSRNKKOVWPGGHJWcfcZYepn[VV[\[[XQXWJCISQVXPHCKRSOJPUXTTNRX_]SPQNPNMRRPRSSWWQOV^cdf\WA;4MZcbYUT\a[Y`\_]YUJE@DPQLEFK[]PNLJTZWNHKZ\XNMRY[SOIQW\XUTPIACRYZVRSQLNMLOLMTVXXZTLJKMRTQRRROOVTTZ]VOKNNLLOTTROBCA@HLIJP[]PIEGKOPOTVRQX^]VMR]dfa\WUU[_YSPRPJR_^XNNWXXTOVZTWXXTU\[TX[ZWPLMQONQWWUPRQSROFCHS[TOOSYSOPSSVROPTRQXZWROUVRRSSNJLOPOQ\]]SJBPZ\SRRXWRMS\ZOJKNIFGJQTXSQOPGGVYRNRUVTSY]VRWXZYYTQT^YY[UTSMIGOOYZYTQXWVSPPGMLCK^[ZUROMSWVO94F\f^U!XT~|kKXJSSUZmmdcka]ULWZXNQRW\YSQLQORRWXWUUX]VTXVYYVUVTQSXXWONUWXQXVYXXVYTUSQXWXX\\[VWWZ\Z[^]XXWWWWTPXOXVRWVXZXXZWZYZXWNOZX[XXVSMVXY]ZUSYTYUVWVWSSZWTSOQOXOWXZXZXVQVZWWRVYSXYWWYWWURNRV[XWWUVZZTYVVYZXZVSPSPNLMNSXVPSVWVOTSZ^\VYURPPNZWZWRVUWTPZZSWXXZZVTUPQPPXVULWLWUWWUXWW[XY]XTVTVYTUTW^VNORVWURSVX^YYWSTW\XW\aWRXZTLRZ[ZVUVRQQV]bc\SPKRTVTPNHIEJQRSTTNPKKNWTRRMJIHWYSSXXTSSNT[\SHKVROV^]ZZWYWTMMQVYXPJX\SFLUWZ[YNLRVVTQTSTSLHLDLXTMSWTQRQTZYXTJNPTQNQY]][_fjh]SPQMMRUZXWW][^YVQITVUTSWTMHFDDMURN[[QJLROLHHNTPKHSYVQSQNHKPNPSTTTOBLQSSPRU\`c\\\[YUTQPRTPMT]_\XVUQORLLNILMKPUSLHGJNKKKKU^_ZNKKLKJMTTNJMSZZYVVQTW^ba[[[YNIONGPW[TLLQTW[]\WUNNKKPZ]\ZYLJRTTZVPWURGHTZ[WYTWZVLPX]YKGVXX[]^XOMXa_WOLNKQTMIFNUSJKKPTRVYSJKQROMHINRPQTYYVNHJU]VOISXTINTWYYTORUPS\]XWTSLOQUUUSQORKLJIMTXXVWVUYVKJHGMKKMQX]YTY[XVTMHUYRJQSXZY]XTSVVWSROUVTROQQRPPSMMPT[]][WYY[XTKLRX[XPHTVNTab^U[glb\XZ\VWUT_g_QNGNRYTKIKQQIJKKJT]\RSXUOKSVROOQRE?EFPYRRUR\dlj`H4BX]\WOFNYRR[\YQOGDRXWWXPC>G]_SJJQVYSPPSVYPNQQRRQOKMWTHCGNPPLKLPPSTNPOMNLLORQRQNMLHJX\VOUZWLOVUPTZSOSUVSHHNQQF?BGDHLLMX`_UNLIKMKINRJMTTSMIQahif[YSNV`^VRROJLPNONNTWUSQ\\`_]^WVYVQNY[]WMLTVMDSZVPTSHGLMEHUZZVRZ^XNTTRPQTPOQNT]_ZPIMOTSNMGHRUUWX^]ZSMLUWSLRWWVWQV\XMHKPICFLRSMRTURJNIHOTTUWU[^_YTUSFJDEQ\\UTTYXROOVWSXUTW[^XZWLALOWLMNLBAD8FOV]VPHLOZ\REPNZiYWUWNTPYlmUTPUMVXNKOXXQX_cXTTRUXWWXT[OXWXQXWVXYUTTWUSWRSUWUYTPXVYV\\ZYZWZWTWYZZWZZ[]_YZWW[ZXYWYZUUWVWUY^\ZXXXYVZXTQ[Y_^_[VRQXY[YVUV[XSRRVXUMQTRPLXYYOXXOSUYUUUZXXWQXQRRVXY\YZYYYVSZVZY^[[XVV]WXYYZXTQVXUUURPXXVXUX[TTOUVXYVWYUUVXVUSVSPQXVTSQPSVVWPWVVUSQNWXQWWNQRSQOUY]Y[YYVUSWZXUUZ`_ZWQRUUPSUX]YUTWWWXVX\d^V\ZPJT_`]\\]YOFJS_bZQNTWWTURQLKTQRPSMOUUTOPPINY[TROWYPQSTPVXOQYZUUWXYVZ_]VYVQPPROPUVZWYZ\TNSWTTSWSRX[ZORSUUSKMLJT\ZUTUTWWYUTVNNTSVTVROOVURXfooh_[XTTQQUXRQNY[YSPDQYWNKTUTQMGJPTTRQRVVRQQPLHJRSTPLNLLMPMJ=DSTUSNLNJKMNPMMIT\`^\]WRRTYXRMLIFO\\RPUQLJVWRMLOPJNVWSSVUSSMJHV[[SKFABBIUWYSOQTXZ[USQNT\^][^b^TECIKMSUQRNVURY_a_WQOKFJOUXRIKUUOLVXQOMLIGITVVMW^[RV_b^XVXY[^`aaZRYab[OLMMMQRRMKUTQOJJPKSTOORVVUUPRYYZXXQLJKGKQQQKFJQOT[]YUWUQRTOQTUYVQLLLTUY[VLPTSUVTNNQTPUZYWWUROLNPMIKSYTQQUVTNNV[]RHIGNVVXOOSRPNLLMQRQQMJNQOPSOQPOU[\^YYUMUWROTSSWVLOXQOUaa_XX\ZXUSXTPKCT_a\VWW\aZVUTWWONIEAJVWPRSOKJFMRNJPZXMEECMOXQMQIW[^UJGHXXRIAIVNLFMKMPMQX[^ZKAGGIV`UKOQTVRMKOSQHESSTNNTTOVWSKEJQWYQOIRZXVTPLMTRQIHKGHORNNZa_Y[_YQOVSQRQMOQQX[]VOKIJMQMGGLMSZYSMNQUWSKEDDBHHKKMJVca[Y[WROTUWTLJECOVPNUQOQWVVY\^[X[ZVSPRVWVXYYPMRSIMSOPVXTSUVULMLIPSX`XNRTOMLURUYQMR]ZXOKQVULG?DPV\WSSTSURQMJISUQMOUOMSVOHMWTKKQURNNGJOPOIJNPQPMKMOSRJNTRMGCIQMHCNZVKNSSMKPSJMWVROL;CWVTXVT;+:CLQNECMRQP-@ZWJINVTW[c_VSTXTVYc^WPUYWYYOQSVYbYRTUV\]\UPZZ[[SXPUXWQSZZWXYTNPVWWVUSWUPUVVQLLTVVUTUUXXXYWWW[XUXYYRSVXZZWXWYWVWW[UMWZXYVRMW\[[XYWXTXWYYVZ\^UMLLWXTNNSUPXWRW[ZYYVXXWTTWXVR[ZVVRTXTZWOSWVXRSWXZWWXXPUZZZZWWPNOVWZSRQRPQTWSOZMWVUXVTWVWYUXXZXVTVTUWVYXUNYQZYYRRVPPROVYUWXYTSVSMOV\VYY\VYVYZXUVYVZ^aYWXVVYUW]^[^`^VYWO\^XT\_ZPOV[]\]_[Y\]^YVMDDRYVRXYTS\\VQUZ[[ZWSJOTPKUVVVSVXTMIRVZWTY\][X[[Y\^_ZTOQLKQRKECQW\YUQLLOVVSTTROLORSSOPXUUUVSWUXTKNPQVTUUWSRX^`YQONRVXTYbki\U^]YYYTWVTTTRPOQMHKVRNOQUWUSPHJQVXXXSWTQPTTUZTMPNMHHHIIJHKSSUSJBGFJHDJKFBMVY]^[WWVTZ_YHOOPZZOMSYWLR\]WRTPJOUXUNOUUUNNJFNTQPOOLMLMSXUQQWXXWTSROHKPNPTYVUNPRRNFAEKSTRPOSSRMLOWTUSKNURLRXSMOY\YVTPNSU]b\UV^OO[cbWWVVWWUU[][VPW[ZWQMKFHOPNEEJOQHCEDJJKRVVRXYVPOVSMPNKKPLS[\VOE@EMOSUVYZYYXZ\VRQOPK??GNUZ[UGFOSUXVRQOSPMSPHRX[ZSRTOMRXXSLNT\\WSSYURWXSOPSNNQVUQIGMRRSRHJIJLUXXULJGMRVUWUOLJSSPVXVXYQRUOJXbc[VSYXVPNWWSNMMXYVTSW[WQRTVZWPPTQQQVRUURKMGJOXWMM[a\XOJIQOKYaWNQOJ@MNB__WSLF@EJRXYVPPTTVTNPPLERWRORQTZZUKORUJIPTRQMSTONUTVBFOTXSJBHVTQNQQQWVPFEOMJPPOPSYYPPSMJRTSRRKINPTSZ]^XRPQVTMGMMQSZYVWXRWYWSROMMLNQQPP_hcWXU\[YZWOJKOIDPSMGJOPNNOOIFPNOY]ZSMN[ZRLJPURTTRRSPOORZ\WVVWRLLOVYWRPRPMLOUXUTMGOTXXSMOSQQTQOUVRMHNTSRTSPEBLTOMNKKLOPOKOPQKKRTMLOI@FKHHIOTXXXSQJMWYLPYXSONJLUTZ]YPQQPGLSXLMLNNQOHFQYPR[WRYOGNRVSLRE/>RHV]9QAOVSJKRXRWXXX`^PWZX_UQYSRKTWYMVUVTTXSOROTYTUW]VRMUSLU[XWTPYYYXWSQVSPURSWVNXYTPSSVWXTWWZUPPXVTRUZZXWVT[^]UPTRSTWZQUYZ]YVXWWXWWYXXYZ[ZZ[XYVWW[UMPSRVSVU[XURZWX_^VRQNQSQUYXWUVUMMNZTVSONSZYPPUWSNTVVY^XWSVVYXXQPWUQSTRSVXZYVSQO[RSTNNTVYVLNWYWWXVSZSLYYXXRURROMVZWXZWTRWXTNWZZVX]XWUWWYSSZTKU^]YWVXZ[YX[VZZVXWWWUVRTY[XNLRTXY\ZWXac]XSPMRX[VUSVV_e]OIKU_bg`\TPXXUUWUOIJPSNPU[YRT^e]RSWWYVZURMSUNLMOOSUZ]\WRRQFMWVS[]^[VQVTOMSXUTWZZXXTPKJMUWUPKPRSW\dd`XWSSTQT^dd[RXWQPRX[[SPPLMNXUNOMMRUTUUVYYOQYXVWVRY\ZTORWXQONMOJINPOSNQVRLJGBELPI@CLQVWZ\^\YTWZWW]_VQRW]YTPNSVWV\]VVRHDRZ]VOPQXVRNKJNMIGNOPVVRRVVKMVXZZPMMRPNNJLQRSGLRSROQSOJJNQVTTNHMQWZZXNHAIMSTRRLOX]ZXYWUUZac_YZ\^]IX\VMVZWSTX]bb[OMPSRRRQRMNTWSIIQ[]SLLJGJMRWTQUZVQKNOIFNNTSVS\^[RMNJLLLOHCPTTTX[WQOJGIHLTYVX[QMMMGEIMW]ZMLOMQPTSTUUQPKPWWTVRSR[[XOGHPRXZUMLJLIRWWRIAHPRQNDCKKQRRUSPMKVPPPTVPNNQQTY[TPTOJNNCHRURMTYYVSS\\USMBIJIPPPSPMIOTZSOSXZXTNQPMQONLHPU[RGNWZSKIQYVTQNHNNJFBESW^b_]WSPPHS][VLQ[[WOJNI>JXXTQPLU[\TMOTRMLOMRRPLSOIKOSVUWW[[SIKONFGDQTWVMJIKLNPMONPQPLMLAAJNMRPNJNNPRR[\ZTQSSSQQSUTYWWW\]ZRPPNNKKNPNNRT[enplgb``YSTXU[YQCOTTNPRTQPTPHGRSRW\\WW]]XP>KNQTWYVKKLKFDPYYXYUNKQRSVVLPNJMRSPTXOJOQOSXQMPQOLPMPUWPKJLRWXSPQNDLPMNQKOSTOLLLJHDGJLKMND?CNPIFMSZ]`]STY_`WOQTXYYTPRRSWUVVYSLBV][XJ;DQYVNSUVSTMUZZF:@OSTXYWQSR:+:X\\W]VYPQYXWVX_WTVLYUW\VRSWOSTUNXWYUXVOUVOLQPTZVXTXZVSXYYTVYZVZUQNW`^XYUVVZXZVOSLUVWYUNVVUOQWXWURXSVVYUMXUUWPPSY\ZRUX_cc[ZXZZYXXYXZY[ZY[[ZVXXYSOMONXPPXVXUXZ[ZXWZVPMLPQSRXSVYWXZUMPZYSYSTVVZ[WXVYVRVZ]]WVZVVVWVWURZVQTYYZYOOTMXNPMSRYOUTQTXYRLMSQQNQXVWQPRWOUVSVYYYZVUTUTOUYWPMYXTNRWUWRXVYUYYXVTRSTSVWVSRSTTVPY[UYXXTTOSZ]YYXTWY[VSXWWX]_]WVSU]c[JHFR`dec]XXXSX\\TKMRTQUZXYQNUbd]VTWYTMKGKMNXVYXUVYWWWRRWWUTTVKJWUWWW[\[SNV[XTQQRWUSMPQNUYXTJJNQNORZ[^_WPLQX[`c\SURLKMNW[\XPRUXZTLFFKRVYWTOTTQRWTVWXSSXYYNFORNQTPPRSWXTQLLPTQOMPMMLEDLQTWWQQPRPRTVQLYfdSNQTWURMNUWZZXVTPJIHMOTRQPRQPMLGAEGGHFLUVVVZWSONNTXXWVTTQPNRRRSMOUPGDNVSMIRXWVQHHORTQROLLHMSSNPRQNNWUOTZ][\][YRTY]`WMONR\ZWQRaiibXJIPTWXTPQLLUVPIHPY]VRQOGGLLQROJNURNNNINLMLTSSNPUQUWRMLNPLEDGILQPRYYXPKMSWWVRSUW\\OFIORXSLMQQRVUOJOQKGJFMNUVVSPPQQNNLLOPKQUKJLOKSZYOGKRPRRIIMKIHLNNU[^XMHMNPICPTSMMRKMOIDALOLILUXX\YQSUXZXNHGHGKQSNPNFHKRVUQW\\YTNPPOPVYXULLOQJKKPRIETZTV^a^KIMILDD`gf`]RHJRSV[_UMJXYMGORMLUZ\USNKNXXUNOTSUUTSNDBIME@>TZ]WU`^VNRR[ZH=bif^ZWS]]ZSQNLTSTSRSZXKLX[\VRPQXUSY]YWXX]_YNIQSQPHEPY[XVZXOOLLORYSSTXYWQY]]VKJLLPPRWURMINQQOQQMQOJH?GTYZXRQXY_^VTYVOKLMOWVUNFHGLOVVVOKIPekf\Y[^``[TNORMHGNRRW[\VJMT]a^XTTTUYYUTUVUTSNHGHGINTUSLLLNLEFIMSUWYZZ___YQE=DGHRY[YRNIJSWZUHQUTRNNRMHOXULGLQNDBILRPX\ZUUPMPQNSUX[`a\PLHJNOH>JRWV\^]WSSXSIFJP\^ZSIDDKPQKGFJJLMSTQLMQVXUJMW\[QS[ZC7K\`XPR^]\WTKPaf]MIOJIUUPDJNSV[]TQNIBPSX^^Xaf\VYWVV[ZOSWUSOMKRRTTXQKSVXTJQRLC@PUWWWSTYVW[WWRNPTQSOTYVQPKIJKJPVSRVQGJVWOHINSQTRIGNNPRQORQPGTbd_OLTWQU\^[ZZYPP[WUXWVYZY\VNMQLIILRY[VEAPVVQKMKQUXYSQQRTRROIHQQKHHIPRQOV[`_YQRSSWWUTPSXVSIDDILQOPVRMLOSPKORTQRTUXTMFPVVTSSZZRFHEGMTVXTSNVYZZUKLMLLNRWTXTMORWSX_]WVRK@EOQSSOOMLLQKHTWVMHPOH=DV`[CJ\bb_[XSROM;@LCCA=QUOM`fka)PQVPRTKOJJYUPYXUV^VUVXQMLPUXVOOMTMSXRZ\YQUWNXPZYVURMPZXNUU[`_WXYYTQTUWWVXSVZTVYZX^[YMNW^XVVTYVWQTSRSOXPTRSXW][XOSYXVTZQ[a\XUTUWSXWZTVWYYSRRRXYSQWW]YUXZ[VXWXXYTVUYYRRXZVVVZZQSPQXY[XXUWSSX][ZVUXZYWZYVXU\\WPORPZOVYWXQVPROMUUWTU]ZVNPZ[XUUTUVSTSRXWZWYYYWZZWSVYWRSTNMMRVUSXYTSONUYVRUXYVQUVTQVQMXUTWWVPSZ^\[^\YYTQQMRW]VURTXYUTQQZYTURV\\QRMNRWVRRTQPJORW[XTNLPVTSRNTVRRSRRV[YXUUQOSYXW\X^_^[VTRTMVYTUWURORX[``b`_[Z_[TWUSOU\YVSPQMMNPMKUPPONT\^]XPKRWXVTUXYZYPOTOTSSUPNTWW[YWSOLNOW_ac\WTUUPQNKKRTTSZYWRSNLMOSZ]XVWYXSMRZ[QPNJMRRUURUTQ[^WTQYYUYYY[[WOIJINONSSTVWTKPSOVWTPPOW\\YWPURJIGA;8CGLQRTRRIKNRRLNOPOPMOPRVSLOSLEKNRNIMP[^[TQPPORTPSPOSSROQPMKJOV]\UR\b_\XYWYVQSTURQRYXZZ]ZNDDMT[^[WRQVSNOVRMLFDMNMKPOPQHISRMFLUUMHLUSOPKNSWUVUUVPUSSTQJDLQNQTTSOIDFISVOMGEHQPQPRPORUWSNQWRUWUVZXYWVYVMLIJRTVWZYSMMLEBHINQNWVVSROKTZ[VRVZWWMNTPKJPLJNPOIIQPGT^`[UYYRQVSOLVYSXckj]VNPONDDJMV\`YNOSUVIKQYX][VOLNTXWWOJPNKNW\YVLOY_ba[UM@=RYZQ?'E_ca\[[SEKPSQZTMTYQKKOGFJNOSY\VX^YNMOTYYRPUTW]\^XVVKEQSQTPCBMUYTMLOSVQOUTRLKMMHIOR\^XWTPVYPNPSPKSWI?GIIKPQNRTOWSKJQQHJQWZTNMEERSUXVVUNIDLZeb^SRTRTWUTT\[YTWYVXSTXVMNTPPPNQSORSPOMNNX_\QKJKIKOTSSTVSMHJLRSTQNIDCBBRY\]\YZWSSTRMMPTQPNJLKOQNJRVJKQUPFOPROLKQSVPRSPMPNRUXMDKRLMPNKOPUSY\\TSPLLKKWWZYXNILTTQVVVZTHBBNVVLHQWSLOPRMMVXMHAAMJE@ECCENWOMDFMOB=KYWH4@UYUIKijgWMOSNWXO\VYLUVTKQXPYNYOWWWXWUVNXULOLNZRYYVNNMROUVXUVZXXXWZXXXZVMQUSMUVYVYWQYNUVZZV[VTWQW[WWRSWZZWWYZVSZPUUTXZY\YXVZVSVOS[[XWTVYWYYZ^XVZYWUVYVYRZQOSXYWXTYWZUQVZZW[ZVTUSYVXVVWTSTRY^`^VVXSOXWYWLRV[WXXVYWXXZWRQTVTQVUZVPLWVNNPUSOSWWWNTWV[VLMRXXVZQTXWSVVZUSQRORZWWVXZUUUPPVU[XTRNQXXUX]VSLMQKYSVT[^YUXWSTVY]^\VQOSVTPSZ_^ZRUZ^YWYSZ\]YVSW`WVXYUW[WTTTPQTTWTVX\XXXTUXXWZ^YPMSURUWX\VSPNYWSTVSPMVTLGNVUUPLTWSKQTbhf^a`]Y\TMPURKQX[ZSOMPMMLDFMPHKMMTWY\XVVSVY]_[W_caaa[ZWTVXXVUY]^UQIJQVWX^]]WTWRPRNCFMMNW[WTPOMKONTWUTX\\XRPKIMQRVVWX\XMKORX_\WVYXVVSTTRSOONMEQYUOOY]VLLURUWUTSOKS[ULSZ[ZWOKHDHLGMRRM?AHQPKHNQRUNMNOSUTLOYUOJMTQKMQPWZVRPOPSSRRUQRNSTRRLKNTYYYSLQTUNT[\[SSUQOQSNLWTV\[QKMRPOPSWPGNUMPQLKJEHPONSUVTSQMQSQLOQTSMQXXVSPJHCMT[WSRNUWVVQMKIKHOOQSLHHMUZRKPONJNNNLOQRUZ]USTTTTNQTZXXTVWQROHJSZZZYSHGJFEJKMPOGKIOUUT[\ZUY^^^ZUVXSOPQNLNPKJQUOHMW[Y\]XPOUXQNU]WVblj^XYRKLPPQSUUVQNUSPRVZZVRHUVNKPZYQKKKQTKEGNPPJFLRZccXNMGEPHERDIJWZba_PRTUREQYUORVV_ZVKRPDITYTSUVUXVMOTSPOXYUYZZTSKFLPQRSI=K[ZUSSTNL?DNSTQQTQLFGXac[ORUYYSKNQRGDHEMSSNNRVRTUSTVPNSPILOTWTNLJIKHNS[``ZUUWcmpk^USRSSRWZY[WTUTSPMNWXNHRWXUVTTTTTOKRPMT]_YTLGMTSSSRRPMJJTVLPTTQRSOKRVUSWYZ]XPNPSSOFEFNLMRTNFDEOQOKPYZUWWSQKDFIIKRUVPLQSZXSMTYUNPRSPMLTVYWYVODOZ][_TTLKLORTNPVVYVPKGCNVNQTXXQMQXUPRQ?ISUX^SJDJEGK513BMPK:IMJDOZWXS0;[]XRUSKXUX^YRMJKWTOXSNUNVLVSVRYXTSRZPVYTXV^_[\[ZYYZXUNUVVWTZYSNVVUSRRVUUTTPZNSTTUXWZ[WYSVZb]XZVNSZXXYZXXTPUWVVXYWVYYYPQTWWZYWYXXZUUW_b`YZNWRRTYWTXXWUXRPPXV[VXYX_Z[VTRUZZZZ\]^YYVSYZZ[WZWSROVXTUYUZ[\WZXVXX[WUSWWUVXWPOTSSMNLMOLPUYSPWTSUYYYWYVVY[\YZ]\SOSNQRNNPPTRPMTUSOMSTYVYYTQOTYVW\^ZWYXVMTQUUX\ZWXWYXXU\^_WV^YTRT^^ZNLX_`\[YX[]XSQQZ^ZQWVX\VRPSWWWSTVUVTW`c_TNPQQYZ\ZNKUTOQVYWQNPZ^VNOTOMSQJNQWXSTTSV[_TIO`da_ZPNOMKRXWPHPUTONKMRZaYOPMOTXQNRWTVUPOW[XUUSYcfc^]\\Y`_a_[RYXRNOOSRPLTZZXXXVMILKLMMIERTSUXXWQVXTQPT^ZRNIJPTUUUYUSTYXQNOV\\YY[VVSOYZWSTWZSMIMIEJWZZNJPSSSQNOROLQKHSXWUURSSQTWQOMPNLOYWWWSRUQTRMIFJRLJU[WOLKHFHLQRQWTWSLJUXY]XTRQNQPOMJNUV\WPLRVNKX[ZSPWZXZ[WKB?NV[]YUXXVSPY\QCCIMMLKLKGKPPUXZY[VRLNW[YPGQSRNQSOQQSMHQXVTSOLOTVYZSRSMEJNUUUQMOUURMQVPLQNQOMOSTWUY[]ZZXSSTUSOHMTXZUNKOY``_TDKORQTNFLOKIRWZUWVYSTZZ[`]TUZSOLKIKOMNKUVVLIMKU]]YVXVZUNSZXY`ih[X]ZQTZ\ZTOLMHFOPMKXZZYSPKQGMTWXOGLTZ[SMJGKHKNKOV]]]eaLDHPPVUJ@>AP]\TNDBIPJKYYOIJOWWLQUYNB>FFAEV\RFBGNWXVTNGSUTTTMJEGEMRRLMTZWSRPRLFJGDIGKKJIECK\__ZXSU[XNGOUMDFHLOMDGNMPUTNLSPKKLFMSUPIKMJGKEDNV^_XVVSbu}|l\WSJHPUZUUVPNKGGILOSOPOTXWVTRVVUVUQOPUXW[YSS[WUOQRKGLNNPQGINQMTXPJLMONX\Y[[VPKEJPG<;AEFPSONIKNQQOLT\]WSQRPPIMUVTQRPRTZ[ZWTVXVTVYXVQUUPLUXWOEBMTX\[WXTVOKNPSRRKJKOQRLRXY[ZZWKIPUVXXTZ_XUYYUZUNI>6I:4HRUTM-7N;,UWWiiY+H#.=XWTPVW[USWXKQLKSVTUYNPXKKPLUZNNQRQOSYWWVXWSTXZUNWYRRTVZUROPQSSXVZYVQYQUYXYXVZZ^]YYU\_^\[YQV[[\^ZUUWSTYTVVWZXZXZRZOVZYWWSSUWVPQYYUXUQOOQTXXWZXSSTSNRVXZ[\[\WPXZUYZVXVUZX\WXZYZZYXXZTTOSWZXSUVYYXZZRVVVYWRXVWSXVVVQVZ\WUQZNOTYUWYZVUTSUYXWWWY`^ZZXYVYWVVTXXPYZWSXYXWSQTUWYWXUVXYYWRVYWWVXTMRYVRVZ]\VXSQQSXYZbTTWTTY^^ONU`b`\XWX[]]XTWYWNKMQVVRPRQU[ZUQUUWVS[c_UE@KVYTX[ZVZZYXVZVPILU^^PLSUVWTRQXYURTXTLR\_TQY^\ZXTQMKKMPTRNPXZSTTSQ\a\VTQSQWUGGPOJKIHPWQSSOQY[[YUX[\]^aa]SOQQPRRTRMJQVZ\\_]WOLMJEIJLSYUQUVPQRXXWZ\\VCEKNNRXZZWUQORUUTTQTRQRSOQRQQTQLNRUWUQKJOUSQQNFLSSMADNUPKNONPSMKRSVTRVZZUKMRNPPLOTUTTUY\XRPNTSPTYWOKKLNTPOVWVRUYRKQTTTOFGLKKMPLOSUYVVRQ[]YSVVTXYZSSTUTNGOTSSWUSSUWUYXTXWUOOUVNFOMIOVUWWSSSUSMJPUXQKN[]ZPLLPTSNJUXYZ[PGQUWZZWUVQKMOQTXUPKNRSLPTRRWSRRQNNQRNOV[\ZVOOPNHKLJHMMMKH9EORRLJKNRY[XTMHMOPOSXOTUORWZ\^^URTSQUQHLPNOMLTTQLJNNLJQUVVUPKNPST\fibZWSPLMUUQMGKOQQRQJKPOTWSMEGW[WTLKIMQRQWULJNRQPQOLI[kfUGKNVVUQ:@GP_aEEDSZVI@LSPRTXYWSSUVVPQNHMNPPNIAFPQSVWXUUYZNJOTSIDCNRFDNVTPKOORWWMOPURUVPLIKEKOMOPV[[[YVOSj|vdWOGHJSYVTZVSMFOSVTQTRROTXSKLNUWYWVWSTTRQNJHPUQTUSJGJGKNJE?GNOQTOLLFBGOTSROOMSPLPPE=>HPOKNSRMQSOGFPUVRSRSVTOPRRQVZWPQVSQPQWRSVUUZYOQSNS[\XRMIJHOTW[ZYYROMRWTOKKY<8`bcij]?"*;WWD(^^WW^bTKXOVYMPXYXUYUNUYYWLROVYYYPWUWWMQXXWUOXYVVPTXWTQMTZVPQWXYYVVSYPVZVYYZVZXYZUUQOWUWZXVZZXX[WWOMQRVTXNW\WUWRUWXWWYYPPWZVTVZUNSVXSNMOQYVYZTWUSTXZYXXXWUOSWWUUZWYZSVXPV\\ZWU[ZYYTSSYWYZVTRTUPQTUQOMVVWWYTTWWWVSTZXWVXWZXXQVZYWRQSLNUZ]ZRVY[ZOYLUZ[\][WPUZXWUXWYZPOWXVYWVVVYXPVXURVXVYZWVUUQWYUVXWVSVVXMMW\NFJMMX[SLS[_[UUSUW_`\YVSUTOSQPONUWSSYUUTUTX[[[`]VUQTZ^\XZXWTUWQLLJHKLNUZWVZ[YRXXX[[SV_a_TSWUTVY\TPQVQJOMMNRVLFQZ\XTSJMXY_XPTPOSLORRPJGINUZ[\_^\\\[POKTXYZ[[XRUWRMNGDHLSZ[_`[[[[RLQPMIIQVRRLNRSOKLRW``ZRHJQNIP[[ZYWPNTSRNMOSPOQNIA?HKQPILQWYWRRTTWSILKHIQPJMJRTNFLMHHMMKNKRRHGLPSMKNROJIFHLLIOV\]ZUQVXTRUYUQHAOWXWTWZRSYWTSRPOIFKMMJMRUXWUQMU[_a^USNNOX[]][Z`b]QKLX`MFNVTRTUOLOUUUYWRJMJJPWUTTSUXVVMEFSRPPT[aZNEGMVTOKPTU][WV[\VTQPTZYSUVUUWRLPSXWSPRTRSRNLKJOUWTNHMVVSMNPHGOYUPOPIDJHLVVLGLUVY\WSVVWVTROYWTWVOEKRSWX\[SUVZWHJRROGFHGGHBHNPOPWVRSOUUNOQU\c`TNMNMFKTXTKISWUVSLMRSRQTWVLOSOLHOQNSLJUUNLPYXPECB@Q]YVSPDEJPWOCPTPWXVZ_WSSJNV[[XTWZUNRRLPSUYWTXZWXXTPRTRRRTTVXVYb_QFUOILNPUSQPQQRUUMFCJKSWVOINVUPNNRSUTOMOWWSJ@GPLLY]WMIKKQUUUQVZ\\UNNPQSSUMQXZ[^ZXUVPVepk`WEIQQIMRTUW]UKINUSTW^[VWWNKNSOOPTY]ZQNMPQVNBHPVYVPMOKIJOOMJKNKRRNJEHKPQRRRMQUUNPVSNMPPUX[\YPOLLLHEFNPRPNMMMPURJNXYXXZ[XMMSOPWURSPKKHJUYVUTNLLRYYY]]ZWSKLMSQVSLCEGFHECELKORPEGNSWXPTUOC@@R^_ZNQPVUOGU]ZBDMSAGgkcid[G>BBKM?AJQXahaRMPXWOVUXWXTSNRUTXXXVTY^``UZQV[YYX[\WVVYWYUWVYOXSPXUNSWWVTWXXXZVUW\ba\XYXXNZLSX\\^XVX\[XYX[[WZXWQQVY\WRVZX\XYXYZ^YUPOMQZ]VQWTSTP[QXX]ZYZ[UPNRTWU[ZYVXZZVYYWZZUYYTOX^YWXYWW[WZZZUOTXTUUQQUUYQYNTZWTVUZVWONYYSWXYZYWVVRTZYXZYLVULSZSRUVZTLONZX\]YZWTVYZXYWTUQLQUPWXUXQNRVNLYWVVUVXVVVPYNPUUUYVTUUVXMXTVV_TQNMPTTUXUVRPS\YZ[WRTWORWYTQNRVWUMNLMJNMMUUVU^`cebWSY[YRPQMFLQTTPRSQNNOSRZ]ZQQZSQPGMU]\X\]WWVVVTNTWTPNNOOQPIAJVVVOONKQZ_\RTSKGNUVTOLLKMU[^fnibba\[RPWXVVUTOQSTY[UMEGJONQZ`XOUUTMRQLNMPSPHIIMLOQURMOQNLIPPPS\]WUVUMINSQQSWTPPRSKFCDNROPWXYVSUZYUTPTVONG@GQVTSK?ILFDJMKMOTTMJORRGCBHONLKHHJGJUYYQIFKU[\ZSNJKKLX_ZXXWMLRUTTPHLVZWUNHGHRWWRUTX^[YOQSSUSQMPOWZ``\OGK\a[SMVWWYUIHKSZ[[SNLLKORVTONOZWTPNQSVSMQRZYTHKNQTVSUQNORUSOWVNBEGPUUQSWYYWVVXZXWNHGFFKTTQONIMKSPLGPUUTVVPJS]XPLIHQQSQTSRHKRPOTKEGQY\]UTVSPQUQKJJLNRW[RMSSRMJUWQHGJIFHJRVUJTZYSLMOQMJMQX_]YTJHA?BJQMHMPKJPVXVTSUTUZXMPSUQOPTWXXMMHEPUWROG9<@IMOWYXPE?LQKSTZXPKE]WDMQOSZUMOPMY\UJIEKPMLG?FVYY_]]ZYSVY`ccZSSZ_Y\a_RPVTMMTRMJR\\UD:EMTXUXVSXXVTPMPVWRSTVUMGGMPNIVYNBIPRSWYPMSZ_[M@ITZ[WVRPSU\``d_[TRVWX\^XUTVTOORQV[YPKLYY[_ca^Y[XVVXYTLMRYYUSQSQRQJHNQTSKJOPPSVYTOQRKOQLE??KMRXWUQNSPJRYWWYYSSVZ^]VRIIKLJMWYURSRKOQRRKLPTPLQSTQNROMMOPIJKMPRWURZWSLSTYWUXVQRNMLSSRPLD>GKKJMOLSXVWVSRTMMRNFDCGRKGO\^RHKPTIPKSN6EILCRb_dacUQTO?B6J`b]^lusQQSXOPRXU__[UYPMTWTPV]b_[ZUNLQY[\\WXXZVTSWVXXULMVSLNMSTXVYYV]]VRPWXch]WZZZQNSV[__[YXVX[XZZZ[YXWXWVZYVYWWXYWZ``_ac_VYRPLYXVOWWNZONNQSTQZYURPYOU\XXVZa\VUVY\XWZXZYUWUYXTTVZWXW[\YXUPUWZXTTXZXYSRROSYYZZXXSOV]ZSYZ\^[LVOTTZZWRXWLVOUZUNQTOXTUQPXZZXZYYVTSVSYLPXVWKYUUYWQMUKTRWWTWWUUTWYVUUX[\\`\VSRRRUUYUVQKNOUZ\VLNZV\`a]_]MHMJMW\UNOTY^ZRMKIMSVWVXTV]_]`_VTTTVOBKNDHQY\^]YTPS[XSRXWUZZOBMKMROV^_^YYXMGPZa^ZWPONOQPKLPUZYUNKDLVYZNNJELSUQQTUOQTYXZdifgd_]_\YZXUTQPNOTV[TQKNMONLT^YSKKFHOTUQPNIRTRRNLTSVVSLOTUOFFTWZ[YTOMUULNOOTTSLKLSSNLOTVWXUXZZPNQUUURWVVXVM@FLSXXPEGMNNRQSVTRQLNTUUQLKONPVXZWPJRVXQICEKTZ`]TPLOKOPSWUUQIQVYWQK>;MVUPLFMNQUPPRY_a_VIERZ\XQPMMLRXWLDKRX\WNLNRWR[ZXSSZYZTOPWQOOQRVVRSXYTOPUXYSPOTWUNHNSTSORSTRPUSMKKILMEFBEIKOQQXWWWUTQQLBFGDCIONRUUKCHSMKSVVSOGCANWZTUONGOQQIDJMLOMLJMJKILW^^WWUPNTYUKNORORSSQX]]\URWVKDJNLKLSZVOOUXXNLQSSQOPZ__a[TTTMA>98EMOIKPVYUONQPNQTILWUORRSTPMLLLJJPHIOF:BMOJFNPNMHB=JRUXYYTKHPUSZRGLILQGMOSUNKFEJRWUVOUZ^VPPSQDFJ[_`]XLQVZ\cjg^[_YMKGKIES[\QFFQVVQNPNOOUVWTMLSUY[XYXQKMRZYWXUPHHMPKRWRNNUZ[SJEEILNNRVZYY[gjdWMQURW\YTQKQYYSKMWZWSTXYVQW[WSTZ\YRQTTQTVXZVSPTQNOH>HNTUOLRMILOSOJPPNQVLLPPOPNLJKLJOPLORPPVUQKMLQYcaRGSSPXYYTY[WOMNMOQNOQSNPSMLQVXUQLHFENTZ]\UGITVX[ZS[MQQQNRSNDGLKHGIMQMPWZRRURGQQNJEKZPFBJVXSORVUTXZ\[RWcHCKUVTWUMAQaZPEOFPQ]Uffa*{€pbLOMU`WTcj`XRPLYLXYWSUYVSZ_^VVRYbaZ]YZZVVSSWYX[XTUWRTTTYVZZOTSSVWYR]fb[VZ\TYNQXWWYWYXX\ZWX]WTRRRSRTXZWYXWYUYab][\XRRWQTXXOPX[WUTYYWVXQSSQSTSW]`XVRWYXYXQY_]XVWRZMRTVWYQWVXWXYYUWWVWWXVSVYXUSYXYYUYYWX\[VMVVXWZV[a_STXWX\]YVWVNXOYTRUUWROZZRUQMXLMUZUQRURPMQSYYYRQOSQRWURONPRNOUUUZUYYRWW[[\\VTKPPRVUYUMSMRTY^^TFPX\]d\X[^WTVSQZYPORTXZWQUUSSRRY\WSQZa]]_]ZQKOSRQUSRWRWUSSQPXWVORMPY]a^ST\aZEPZ\VZ]^YQOXYYUUVRSWQSSRSSWVNPRRSVYZZYTEHWXSS[_YTUWXTU[[\___\XQSUY[XTSSTRONPTUSZXIKY\XWRJKSRNLOIAMUUSLKOUTRLHPQTQLEEJJJSYWKNUSS[[WNHGLHGOPJHNSUY]\YUSOONOSRPTOSVXWRHEGSWUOKHMWXZZ\UPOOY_][VPHLFLU]_\OOWYVOJHKMU]_ZRQSOOKJCNSTQLOTPWTKHD@JOVTOMNRSRMOT]ae]PFPWZW[ZXSQRUMHGRSSY\ZTQTZUHRQMSSVVVXXVNOSUXYYVWUTRTSQRVQPRTQNLKTVSSLEJJLTXUQMIUZVQRJHIKHNSWXRKTYXUQRQOLHCCHNMIHMKKMSQPQNMMORVTRFJSPNQHCFDCEDBAKJENQMU^[YXXUNOVUUXZ[XNSXYZ]`^SNRSMEGHHNNLRWRTRY\XOJPQMNORXRTWTW^[TNFBPUSPNRX]VSUTWUPJIKRRDJQRUXOVRUZ[YSRWWNGDJLPNKJQSUVRSUWXSOODKNa^XXRKFIIKRSPPRLLQWZXVJPUUPGFSONCEMVTXYRNUVOZ^\\cgaUPL@CLWYVNIRSURSOSTFBGJIMNMNNU]YWYWVSQMJIOSTPMPRLHMNNOJKRRQOQONOMSY[[X[fli^OROQS[YSNOQXZRFFRURRZ]\VOS]VCAMQSRTUWSSNQWVOJPSQICMTXXYXX[XMLTUXTPMMXYSPUUPMNLFDMNHKOLHINOPJIEA@Tgk_YQNLLNSY]ZTRRSRRRQJKMOSWSKJMQTUPONQU[UVYZURTTVWYZ]\]]VQRPK=;DDINOLNJMW[VOWUJ@ITRUSRRMIPYZQHSPF@RT\`cWUWOX^^^]J >Xdf^O@@NdjjEJB1:of`cTRUfhbde[NNOTUTOZ`YLSTPYYZWSTVZWXYb[XYWUUWZXZUXWYXSRTVUXPXXRRUW_WU\^WUX\[UWY[\[XXYY_YWWV[WRUPZNWXV[`XWWYZYXVVZ]XOPXVZZRZTXV\[XYZYXWOMRVUYYYWVTSVYSWYYQRX\]Z\ZZXSYVZXWZ\[YWWWTXUZYTWYVXVQTYVY[Z[ZWXVWTPRVZPUYYYbc^]^VX]^WMQPTQTWWZVX[VORRNRSLRUMWWWTTVURSYOZXXSRWYWWYYVQYUOYXVUWWTVLLUVWVXWWTUVRUUYWYWYVWSVV]_WKOXWac`SQXVU[XRWZPOPPOUVSTOMRQPSXWRRV^bbb^WMGOONIVYVTOGKFJHOPMJQWNS_a`[ST]e`WW[\[]ZXYVUPOTUTNMSTUUVQNNNKIMWPW^^aedTDEQVNPUYUQSPRQQVOHJSWWRPRVZYVPQ[ZWUWZ]ZTYYNIPPUV][STRNMQSNLJLNSMNUUPLIMSWSRUUPTTXWPOSKDSSMC?HQQJIJEMV[WUSUVQGKROQSRSRNJMHJMNHHQUSUWRKLVV[XOFFRY]`ZZUHMPWYZVRNQPQTRPJIJQ\\SMMRLFHDMUXUVXTUXWUNLMHBMV\XVVWYXUSVWWRLHMRYNNV`ZVPTTJHY`_URRRNMMOQKKWQOU\[WUWRRUUTW[[[TQ[aaXOHMPOKJOQOMOROLIJRVVUYWUWXVVSUWSKIJFSX[^\TY\XTUXWVPJIIEFKJRWRJIMPLEJOMONILLHLUQNPIFNHDLTMOQPJJINQQJLJURSPUYXWUYYSSVYSNUUSY\YNBEMVVRQSXVURPVYUSMMSNOQ[ROTWWYZRSPHKNOPNU]^SNRUXXTIJLPMGLOKOTVUTTVYYTLSZXSDEIMONLIU]]\ZZZNDRVUJGOW^]_[XWGHVZPED>HPF@@CA@@@MFEO[UPPMHBJXYUTWMJTTOU^\XVPIEJPTRIKLRNMMHINGFPNOOMKGGRTRVXXZRKQOFFMLJIOUTXXZVOKPSTSVXXX[\XMNJKKLCFNTROOTTPKGLTXVVMKGFLOTTQPRSHHTYSF;JPIILJHMQRNRRPNMLBBQXSJFII;1$EHBC@32PZ]ZP^kpd^`F;ODVLRVMWORVW\[XMSSKRTMMYWWUVWVZWYXUYX^_WVZVXUURVTWWX^b\WTTMVPSMYZUUVWX`eebY\]YSPURPPUTWTS]a^ZUPYYWYWZXZW\ddZXW\XWYXVXXXUXVWXSRY^ZXQVYZ[Y_^VXRPPUYWVXVMNRNZYUVYVWLQOTSTZ[_XZWYUUY\YVOWSQVVU[ZWXUUTZZWXU]]WVUXWWVTMUYXZWYZXWWTOMORWTUXYYXXZPWVRMVZRWVWWQPUYPNNOVXZSQU\YYYTXUWWTQXYVXWXXUWVVYYWWXYVYUXZZTTWVWXWWWWZ^[QT][Z[_[X\_^\]RSZYTQKGMRTYUUSNNTZ^[Z^]YX\\WNSXYQQVY[\WTMOQSSSUTV]_^[ZSUXYZY[YRXYYXZ_a_ZY[__]TLIQRNQUTLNSQROIJRU\\XQUZVOKQNPUW[ZUPRQJMTQNVWSWWUONLKPMMMRKOQTTTRSWWQIMLPVQNORVW\^^\OKMOTWWSOSRQX[XVRKILO[`YMLVTJAEU[\TQNF8@W][_^YTTOL62?JMLU`gYGEAJRSNJGB<>GSVYZUYTUXVVTJGFEQUNCELORJLRVTRODQXXVSUQNKHJWSRUUWQRSOIIKMLUXVY[ZRLRSSWVUSWOJNSVURXYZXMPVWSPWURRWeicYXY\[ZXXSOJQSMKDAKTY[[SSURPRWPISWQKSQOMJNQYYY\WQPPRQW^_ZTOJHMYYXURMKEHIHEIPQMSZZQFGNTWXVSKEGTVTNLJJEALKOSTSSOHJOOPUWQNLHRSWYWI?=ORSSPKRORRRMDBIGDAGHNSPPSOQRVY[_\UQMHDGGMLOTVOQV^\REEGFINOQTXZWPLG=ANMRUPSLJ=DB:,1CGERTCPRLGEIZ]RL?.KL!OQ]YWSTcgcSOTSVKLUMTYVZ[[_dddYYX\\WPV]\XUYUUZWVXWWRQTYYURVUMYZXVUX`fc]VZYZVVVQSXPSTXV[\^^VXZYXTXZZXUVZ^XXWZ]WTSWYTVSMSVXVXY]ZWZSX][Y^\ZUNWYXX[YWXXXTROTVWUYTR[QVTVVW\\YXSQSXYWMNUMYQOLRVSYYTQW]ZXX[ZXNQWZYXYXXWUVPSSLUTUQOPQQXZZYYWZXYQTUVUZXYXVWYTVXWRUYYXVZUV\^YUSWQRXSLOYZWZ[YTXTQVUQRUYWZXTVUVKNVXWTVXZXRIJQSNR_glijiaXT[a`]VRKQROUWVQMOU\]^WW\\\[[WTT[TGFQXZX[\VKJPNQVUYZ\[ZTQX__YUXXRPUSZbfg_YSLS\ZSIQZ[TOUWVWSNKU[^UNNPNIKSUPMHJPWUX[VMOQKU][Zb`XU^]WPPORQNSWSQQPMMRSQRQQOTUQSV_a[ZUTORYXRVZXOLRXSQRQRLNZ]]YYUSQRVVWX[[WVTSNIMTRVaWLMIKOSSQNLNTZXRPSQQPPPSOMV\ZTORXYXOOTSQPX[WPKJNRWXQGR^_XTQKMNPVXVUUUY[XKMRQONX[ZSSVVWTXXXRXZTQTWZbbTQVSSU[WMRWYWRUWRLMLRWVLEELUND?EGCJJDNJKRTNHJPTTPGRYYQPS\[RJADLUTTQWWSKLVYULKKLNMJKLLQUXZTSY^\UOBCLRLMRTSOPSVSPLJQUVRNRPKIJOONNTSLKRNPUUXXUKGOSTVPMT[[ROQQOOIE>GJKEAEOROOTRPUWVVRTQTXQNMMJJIONJJKMTPPSac_SNJJYW[]\SYYUNNONOPUWZOLNS\`_]WOIMRUYZWTQFHWXSTTONLQQXVLRTPIBHJJLWWXSLHGXXSXUKITR^1;CM\emiONVPJ>?IMNJJDITRUUXXRKLKJHLOGITMEOOSMB=GHJOKELVUONMLORTRXZXPNMMMUUSPPLQSUSTPMDELV\]UQPPLAGQZWXVWTTTRUNRSTLIIJU\\[Z[Y[W[XYTPFKNLKIEHNVYTPSYSMLMLRXWUZZPRUW[WONORGIORLNV^ZSOLKMPNLUXOINQQVWRUPOMTTNLNOXWUXXXPQTUOHDKORQQQMORRSPMKILS^`\QLQTVTVTFDKNRTYXUTQJPSPLGFIFLMOQSPLMKEINNRWWUTUNDBHJIGNPWXYYZVPKKKHOWWZ[RMF49CBKX[]VTYK:=?ACDD;EJQZ7BG9BOVN\[E%5H8&HerpQXXbfbTSYki]PNXPLNTUWX_ficYZZZUX^bPW[RSSPPOWXRVTWYYYXVRX[]XWVUXY[YYVZZ\ZUQMQSSXYZY]``\WZ\]VWY[WXQVXXWVWXQZMRVYRPRWXZZV^Y[XVQTYXXVVZXUUMLZYYUVXWXXYXVQX_]VWRRVVZZY\ZUURLU\ZSRTUZVWTWSYWWWOMY\WXWWWXXYXUY]_[ZWUXOUTOTRXVVQQRY\XZXWTOOOVXYUXVWXTYWWYRRTVZUYYWUW[XWOMKTXRTUVTVZZWWUYVSWVWW[ZWYTYYVQYVUYXUX]]UPKJOQOL]hoqphaVTV]^\WTTXQKPQMSMKU[ZUXTTUYZ\ZWVWXVNRTSRXZZSNOTYXUUV\[]XTVZZOISQMNT[`cbZVTTX\ZVPSXWVMHFKRUPRVQX[YWWVOMQYXOJLMRUUW\UOIGGTahkmif^[ZWVW]\XQUZXQRTPNORRNQXYTSQSV\QORPNQQVTTW\VRLSORTVXUUTNOWZSRSOKGKJJUUQMPOGKQV]a^SROKNPROSTSWYXTXZ[][TMJGMW\YYW\YYUQQRTSW^XNLKSQTSSMIQ\`YWRSOOVVQORUNLOLQNNKMNSYZ\VOLT[[^WTRKIKT]^[XTIKHU_`]VTSUSPZXSUWXTTROPW\XPFDFKIDIIIUOPQJCGKMOLIJ[]YRWZ]VNFHRVRMNTTVOCNYXSQSOKIJNVY]UUPQQXXTSQNHJFEJOTTRV[`_\VHHORPDDRULLSVUSUWY\[VUTQOQSPLSUMMNTMPWTPPLMFGIHEMRRJJSWSPTX^]XYVNKQYXPFFJGGNRNIIKQPOBET\YWXWTbaRMHNPYVSQPPPRSWVUPRYafd_VKBFVTRSQTSQORJBLVZXRJNNQONRSPOOPOTS^]\NFCAPT[RDA6HLDD>KSX\`UE9LOMA>@KNNPIEKMEFOUQLMQROOUPOSNFFONSL@AJKKMEELUUUKLTVUUQPORPMNRORPLMPTWVRSQHFHIU^[RJLMKEEIQWVVSNOOMKGGJF9BKMR\`_XLQPOU\Z]YRMPQTRNJHHLLLKTYPQSRTVWXXTSWRTWWRMPOLJONJBMURIHKLNTTNKOJGGLMQSUSTOIBNUSOQXYWRQNQPMKJCOOUVYWPVZURQSTMOTOKTSVZPFORPMJLTWUMNOMNTXUNFIOPQJILRTPLDCNTNLSVXXTPLMIGOUQKHFJPTVUROVYTYVQJOTSSTUVUUQOONSUVSHBKW[TBAGLKQUTMQYY[XVQQTRRRRWWSQQJIOQOMTMRRQPPVVS\_ZWUSUSIDJPHABOPQIJMD/8IUQDM^ZUOO0/8>OKbnql_UW_d[_skV?cWVSSVTJWYeaYRWY`XQQXWXRLOYQMSXWTVVWWQNQYYXPOXYMUVVNSQSYMZWYXRVUXZ`aZVUTSZ_ZYVYW\_^\\YYVZVVUUSUWWYW\^XZVWPUZWZXVYSWWWVTVWYVYXUVV[[XTZXWXQQWZ[YXXYZ]ecXQPZ\WVXYUTXYZXXZXXWWWXXY\\WYVWVXYVYWUYZWUWVZ[VSMTW[ZZURMOQNPTYOUWTUYVXYUXTUQRRZQNVWYXUPPWWNRWXTQNSWXUQX[^XPXQUUMRWTYXVXXZYVVWQPYYVSTYUXWYX\]^VSV\_]Y]WWXSUX[WPKGMORXVXVRQQY]ZWTUPOQ\baYYWTPW[[YQMQUZZVOVXVRTPPPUVWVUSONKPZZUSX[TQTYZZURSXYSUVQQVXTTXRSSLNRVY[[[VRQW^`]SUX[ZVMTROKOSVTWZ^YSKQ`gbcnnli`WMMPLQQMT\a]XSMPVXTUWVQWVTRYX[SKSXWSEDCGGKHJOSSUTNMPUHPVVRKKINOPJETSMLNSUVMMV\[UVWRIJLNRURTOKIMQSUQNMMQUWQGNUVOPTUQUZZ\YNFIJIMRRUUNQTVSVXYWSKOVXXROJIPSWZTUXXWRZ\XRSXXXW\]WJILNGCEGMRUXYSPJS\a`VY]YNHOVSUSMNRSVWRKKNFFRUSNSUSMLHHKLGKRPLMOOPUSLD@CEKU]]VKPSOLQVOKNQWYZQQUUPOSYWUVYSUYWSQPPK=HQQIHSX\PKLNRUQPTW\_WROZ[[TJSZ^WUPLJJMROOTVZ[YQKQWVNQQUQJMMHEFKW`a]^]VZ\SRSONRRUWXWSPNDFMOMJNSVULFNX_^YTUMHHHBAJUSPUVSLS[[VQOKQWUSPHKRY^WGEPURUPEGNLGLMMORTRTXVTPSRO;EJUSWTKPVRLOZZ[ZdPIGJVVSQRRTPDDGCDHPRPMLORSRWRNJNRVTNNSU^hg`WTVVTUSUTX^UJ@JPRTRLKLNOYWSPSRWXWUSVYYQPSNKOJDMSTTTQOSWTPORRLGILMKPQLHLLJNPQLOOPQQWYVW[Z[TTRTUSSRPOQRY^\TMNOUZRTRMOSRQRQPRPMQUTLNNHKU\WLDIKF?GKIJJNZYQKNTXVSKNQMPSPNLMFMTURSVSLRUQV\`_Z]WNELY]WOLNXWLAIIHITWH8E[_]SN@).HWV]gjbXBIdki]UNG;;\fi]WTdb_a\LLMUYYKPYVVUMLPRVXSVWVQSZLZZZTZSV]ZWUUQTWWWVVUXXRTSNVY\_[Y^\_YZZTWVYW\]__ZWXVVWRPWVVSPSY\Z[XRMQZ[XVWYUW\a^VVSZZWY]^[^eb[TSZWZYYXY\XUWXX`b_YTY\Z^^[Y[YUVYZVWUWWSXWZSNUXUYY\UWV_aaYXXWVUZVQXPY\[YSOLWXYWVWVWTUZUYVXSRNUZUUSXZQLSXRMOONVZVYWSUXTZVUZZ^[WSVWVVSQSY][UY]YVYWUUWURNMUT[^[UW[\VTU^aXT`^ZXYVTVRPXYWTQTXZ]\VT]_ZTKOUTUX`caYVURQMKNQSY__XTNV^\TT[WVW[YXYYWTKKQTX\_a]WWXWWQQT[UNRTGGKLKLMGKNRWW\\\[VMMPS\_]VLMNLLOPUTOGOUTX_c`WO>DRXW]``^MOY^Z^`]NQ]a\TMQKIKIISTRNGU[Z]^VTXVSHFLHGKQTJIMQSQPLROQZVXVQIJQWRQQWTOLMPPJMTVWMUZVIKTOLNKPRJDDEKQNLLKOKJPMSYVRRTVLRURQVUSWUOQXZXURSWTRMSVWWVWWUSRRTTTX^`[[\]WSUYXTOTYVS]\WTRPDCGJNTSQVWWPPNZed^X\ZVQTWTLCDKRMTY^gmh[OOYWNQZVQNNOPGEIQNKJRSRVSRRKFHLWTVWSQULOSSNINUVZWSIKSUSQLLINWX\`]WSUXYODTXSJNTYUHEITVU[^__cfb_ZUNMJITTSUWPIHMLQQX[YZTSTW[XRTRNFALSNKILTZY\b`ZUUWXSGQXUVRUWSOOKGFNNMKOLNLPTSQW[[VQONPOKLPONNWYROVZXXSUSSTXYWTUR[_ZIFVWVSQUQPUULQWKTTMKRSPSTQBFMY]SGIQQKLMXbXZ__QLJSMG77GQPIJLOZ[XPVWPNONVVOSOKNORQY[SOIKLCB8CJHFIGOTKEHKFHKHLSX^ZUPLOQSSVL?GMPNJQWUJHNPOMLOPPSRLJOLNKLLQMJIGLZbfjhbXQUUPGKONYXWPMRVVXPILKMQUWSQPPQ[XYUPQWPLPUQPLFJNSWSMDGOOJILRRIGJPTUXQHJMNKLMRXXMLPSUQSY]ZVTQMILPSVWVWX\XTTTPLMPRSNU[WVTTYZRMT^^\YXZSOUXTWROLCLWTWTICJKKLLSVVOGKMOLPOKEKQVMINUTPRVTSUVXQMONNKX\[VSSUTNF>?HNUSIHUZ]WH;:RYY]`[W=7BLDN]ehWKHFC8kcWXTfW]bULQYUWTTUPUPSORNYUTYVZXULUOZMOTZUZ[LTXORYZZ[VOLZZWNZZ_^[__cba]\XWTQPZ^`]YZXZXWZRUWXTMOSXVZYWRMYQVYYTXVSYYWYXUSUZY[[WX_^WWWY[XXWZ\^[YUUVTVVRV^abc\XUZWV[XYVZWYZ[^XPVZXXYUYY\YX^\ZYTTVTZXRWRPUXX\YZOWUXXYXZVRRYSWVTYTWVTZQVYSZYXUYTUNOPNVVZTUYRWLSYXXZSZZQSQTPNU\^WUUVVW[VTYXWXYURXVUUTT[XSUZZYXXZXYSY]TGPY[YXSUW[\UPNSTWXRMQPNQRWWRSZTRUUPMQTUROLOU`aYUWXMOTVZ[YUTWYXXW^_ZYUSSVYYTTXXU[ZSNQRQRKMOSVXX\`a\TOPWY`c\TRQRIORSWZSCIOQV]]_VIDDJONMSWOPSTZ\XXUPNZ`YQLOMBNSSTW[YUWYXY^ZZWWMGRY[ZQSVQJGLOPONOMILKTTOCJU]]URQVWUONPQSUVVVUURIMQNKTTX[SFC@BDMPPUXPNOJPRQMOPROX]UMOTRRPJPUPMMMQTPKIOVWVX[WQVX\UNHJTZTQNLKPRQWSCMPOMIJLW^ZRPUQQVUOUYZXWSXdhaYVW[ZTPKMJCJRWX^dkrj\VSPNDRXSQRSVTRPNTXTJHMSUSPTQLDPZZTWVTMLNOPMKNY\VXSPUVTUSRLJILSZ``YQRW[PKU_TLGMQSLGJRPTX^^\acc[VMNLHMNPFMUUHABKPPSXUPPQRTWUSTXQLMSSKCEMV][VRYTNPSXVTX^\XROPKGLRUVWVQOEIOQY_[VPUVUVRQNNPMINQSR\^ZWWZXUWSOQSSRSROQXVPV]\WRVVUUY[YWTNKUNSSUUVU[\SLNQQ=@QHNQX_ZTYN]QKNKLJIHNMNGPYVVZPHMRMJMPUSMRQRNJKNRVQJFOPJLLKJEOVPPUTRMGJOPNCHTYZ^\VQROLQMFGKUYOHOLDKRUONTSNNVXQMLOKCJNSUKGHMR[`cda_WTTOJQRPSROUNSQU[UMLSSRPSWWXUUTRMWSNQOFCLKKRMHGKLSNHDDCFKLMLRQQNPPSQGEJSSOMNTOHIMPOLNSVURQMFMNGKWVVVUUIEKPSTPQQSTWZZYNLQMCGR\ba^W[YQQWWSRNKJU[VUZUQOKPPNIOPTOOMEELTOMMXWK>MUPSVWXTRRTRKEPSPOV\_[UPJMRQLJMRQa\P>OTQ[\WB?LTRKKPQSJFIILRULETRNLROJJIFORJGQWVOLPYWQTTZSORUWSLENPOS[XUWRKMQWVOSVWQTQGPZWQNQSUVWXWUMJLOOOOQPLLPIPTZaa]XPLHQUUKPMKHPUVVYURTU^YURUUUVYSKJTUPT[ZVXVTWPCBKSYXKJKKMPUSNNTPREEOTPIGLJDGGJMLLFGHMSTUSTRLAELHJTVVVWXTNLIPRTTUYZWSZYPQTMGINQ\ZVRXYWQUVOHJKQ^ZROUWZ[OEKNMRSQPMNMMORSQTWXQNNNJDQRROBJJH@FINWQOVZSIJIGQPFFORQI>ES[XXNA.FNB=JLEM\YMKYgf`UQRYmgVUWQSLVLVmgOXMTRORUUX^d_UPQLT^bc\[WWXYMSVX\`_XWUVPMVUTWVUNSVOZVVM^jj`ZYVW]YZT[XSSRWVSXWSQTSZPYWXVXZXYZYVXYZYZWX[WTLOYZTTUZVUY_ZWQXVPQUYZXYVTRUZY[\\[[XY^\YXVZXWQS[WXZWUMWZ\WSMSWYZTWZZUUYZXWXXYZWVVTRRTTRPPNQRUUVWUQQXXYVVLPVYZSZSSLYSQZVZXSYWOSWQSUSPSTPWXUVZYZVYXVTUVYZ_[WXXXXXWWWWTOVWQRWVUWWYUUQLOPSYVSW^YUQRRTYVQRTVWXUXQNQ[^[SGCKSUXZZQH[b_SVSNRZYXWSLJI@@LRUUSPOROPFD?IRRNPQ[]Y]\]``]YRW[YYZ[XNILSXXQRTPMOSPOMLOX]`ZSQY[XMQVYV\[XPT`fbZSOKOOSRPT]XMX^\UNS[\_^_UOLMVPLMRKKO[YTVVSVUUMPPORVTMPTSPVYWKFILLPKSZZWVURQNONPLKMRWVTSRQQPSY\\ZWWRPLJJDFJNSLJRQTTMLQXVJKPLKKPSSQRTWUQNKMRPEFIJJIVTMMSVSORQPQVWUSWVSJPSPKLONSUTSX[ZSLJOUTTW[\XZ^`WDMXX[YU\b`TLQRU[\TRQRWVUSWNNMVcca[ZXXWYRRTRMU\Z\WORTUQJEGKLEMLLPSMMNW[ZSLFNVVQPKHNQUX\ZRIPSPOQILPMIKIILQNHECDGPWQJNNRQMJ\ed]UUZZ[WXTKIQOMNHALTSQSWUUQLLQQVWTQRPMMLOSMPPKSOMRVUPKPSQQPLMSUOHDFHFPUTVWS[^_ZYY\[[]baYQRKKPRTJEOUWXXNGJX`WONWZXSTVY^^VV]\UTWXNGOX]URHFOPRKGJPSOSWRWVPOQOU[b\_\V[Vb\JNTQKTROFUZWLUANV_XTX?:EY`^cn[J?0IKS_TJVfXOPORMPTX]`c^TKRVRSVULSVZ[VUTUY]cbYRWZTOWZVTRVWYWVWRNT`jieb`VVZXTYa]WORSTPWXWWXZWWVVWXY_^X[^YPOZYXYYWVPRYXYTNVZZYWYXXPYY\XXY[WWMNT[Z\XVUPTTVZ[[Z[YXQRXWWUWZWRRWVUUQRXZV[YXTRWVXYVXTTXYYZXWXWSTPSPMOQQOLLWMPUXWZYVYWQVSRVROVSZULLMWXYSQMVXUUUZZWYQLQVYZUYZVUYYVYRQXXWSWWUWY[UZ[YZXYWV]WSUVPPTUWWJS\YSRRHMSUUWSQUXYYPMSW[^ZSTWROU[ZUTZ`TLRSOQSTUVYRUXSIJMOPSTQNPLJRYZTMJQZba[YYTVWRLKOQMQTUVWQNQSPJSUPILNMUTPQPTWVHM\`][YWTRW\[VW[WSRTUXZYPNLNSUSVYWOOXbedbaZURMLNJPRQKNSX\\^XRX\UTVUOQQSVRTTGINNOOKDHOXYTUPLMORUSJJJNPQQQ\``VPTSQRVWWVVRNHQVSNLNUWUOHDIJ@:HLORRTUZ[ZWWXTKIOQSOQRQKLPMA=ISRMOOKLOKLT\\TPUYWSKMPRWUPIKSVLMNLGIKQXRVXZ\UNQVZUT\^XQRSPR]^_SKOPPS\WJKV]ehgaXWUMSZIV\VU]^XQOS[YPLOPPMGRVWURQMMSVVOMKKNPOMHFMTUTY\VIPVOPQVUWRKMMMQSPKKLKNNLJORVWWOEUad_YUVUWXYXSQRQQNNJJOQUXWUPVYRIOORJFDHJLLRVQNMMPVUSRPOLQRQTURTZ\UMLLKGPQJOIBT_cc`WWVUV]aZUVOMEJSPKLSWWXQKFRZZSRQQPOTQRWVOQSUNPZXIEPV]]VLFKSSMLFHDFNRKORGPUYXZ[]Z\_`_[`OOVRKLOG1BNTWVQKFOSRUPPVOPIC1=V]WPOLMKS[]ZUOTSSPNMEFKMQRPNOORPPRPO\bd\RNMQYVRRVYQOR^d^VPRVTTYVLLOVTTUPRQKKMPTTLP]_[UQLIJJRVTRLKPWSRSXZWUNNTUTVUSPUTRKNQT\b_XPRW\]XTSLHKMPTYWOIJQVUNOGIKHCIHHRRRNPPNKHHPNHMPW[ZSSTXQPSQOWVTQVTJOTPKFHV\^ZRTRVZURNWUOJRUSW[WSZ[Y[XRQQPRJEKTPNPQOQOMQSWVUPLNNONMQQQQNJHKLD@BCBPWSHPUWTLPGENSOLECHQKEDDIGANY]ZWQQTPUTOKE>MOSRMKQRMHFNQRSWSTUTTWWWZ[\ZVSSWaXTUWSQUZXMILNMRVTLNMGIOUUQO\`]YRGLQTROMKMQSV[YPNPUWVNGNUWTLNVWTMQWVXZab\UQSUQINPNKORSTVWSNSQJLQKG?EIKPMRUQNKMOMGDMQJMNSUOGLVVNLQTPU[WKIKKQSQSLOUWZZYYWQPRMNSQGGSVLLSRTY[YZZQLCIPPJJRQIFCGUWMIJKPSTPSUSNQTQEGMKIPRTRLJGMSODALJIFIIEV`[TOGIOOOVYQGCJLG@NYZVUUME1BFKHMMRZTN$>BNSMX\aMRLSKTWLTSUYdh_e`ZWYVPUNTWXUYNROXWZ[VMOSYWVSQRTPNQYUPRQUV`bdgf[SS[ZY\`[XUZZVYVZVWVWWW\VURWYSVVSVYVVQXWUMSV[\`]XUUVSLPSXURLZ\ZZ[_\ZVZYY\YZY[_ZVWYXYV[]]]VXWV[XVRSOTUVUZNXVXX][VWZZVUQRWYZWZVWSRRVTPUWTOOVVVTWVVSYYRSVWQVUPNPQUYZVYQLQTUXXQTZVYQYSPNXWWYUUVUWQXLOLLSOOMPPTSPZXXVSXXWVUWX[YVYXYVUYW[ZVLSUMRVY^[UUVTQSUX`ZWURLDFQUSPSWVXV[__ZUSV[\\XR[^ZNBCPPMJPRWXSFNRQSRW\_]XRHFMNOTSIMTLHIGLVYXONNRSUNBJTUNIOPZXUTMIHY\PPWYVNLIPY\XURSYYZVUNIPQNDECKPLNKSVWXWWRPMLUYYVTSRWWY[_XHQTSSPOX^YQHILMPSPJQWUNKQZ[XXMMNQTVRMY\TLJIJPVXUMFLFBHKGIQUOIHGJLPUWXUUQMOJFJQRQSSLDDAJTXWVTNQONORZ[WSTSLEEMSYYYWQHKNIADMOORS[^_WNRUVQNLOSUUPQUVOIPPORVVWVUY][RKUYURMFDNWNLTTTRUVVUNOPMS[`c[XSQPLNRVSRY[XVWXWQTZXUQOKIJOSVPKKPVTUVRRRTLGHOWWRKORLHMRWVQQTTVZZSOQOEGRXVSKQNKOPMNNNZ__XOPWTWSSYZZYQRUWSM[^W[]ZSQPSQLJMXXOOUPUSLHPVUPQRUXXXUMKLOC6DJE@CLJHEHJJENM=EN]YGGQVMHJLPOWXMFRBEXZOW\_]TGCRNZf\R`_USQMPWZOEPSRT[WV[ab\TW\ZZ\[VOKNMIGJMRZ]TKFMSSTOKPTVZb`^ZXTRRTUOQRSTUSQWUOEIPSLQZ[YTTOMPSROPOUZ][[QKJJKPRUUSRUWPOSPIKKHAFIJTXXVOKQW\XPVZWPPVWTNQQVWTNOVXYXPNROPTO>DONKJLJHGILRWQLHKLMNNLJNQNKKKLMSQSUWPNRMNJMTQNQU\[W]XRMGGIPYXUUUKMQPOTVPPRURIIHFHGGFIMORTQLJNUTTVXUPLMNUTRRYVPNNQOOKFJLEBCB?BDNTNMSRPOLPVWSV\[L@MIDEGJQVTL@PPW\\[WQ\XGCL!;S[_YljggVRRMKJTS^cd_TWWYY]TUSSOYNMPYSTQQXZ]YWVRONPTTSXSSQUZXV^fgca^ZVYWXZXYZUVYZ\Z]ZXUURQX]XLQWXRXWQXVVSXXYW[USSY[]ZUW[`WXVV[XWSZWUWZXVX[VZWUTRZXXXTX_\WY[]\XWSUUWZPORYXYTZMVSNTW\[XZVVXXVYZZTZVTPNV^VPNTUORUXXUSYZVOVZXXWVXWNMMWNYY[WXNZULUZXZYYZXVTZYTY[_`WYVSYZOXURXMVUTXRPOMWYWUXVWQOPRWUUUZXUXUTVWUQXUXWVVVZYOWbc\RPSVVRURLOVWVTSOQQMMMT\`a[`gf`^\decZLDHLIINRTTODQTMKPQRUUXTNV[^YYWSOTWWWQRPKISWRUVWPVTWUTVQS\_XPSVROY[WJMQOODETUZYW\_``be_RNRNJEHTYUPPLQY\[]WSTVVVROROMVYW^`ZOORRVVSZ_]RLQRIJPRMQROHLW`]^\XSROQUTTPWZUQHGNTYWSNSQONKEKRMFDFIPTVUPTXYSPOOMHJORTUPNKFPRRSUUOQRHELTPIOVSIIRXYWWUXPGDHIJNTPMSVZ\]VQOPOROPOSXZZWRRKCCE?BMRPTUY`a[WUSYYSOPY^\TWUPNNRYYWZRKV\aba]WPMJRJJKMQX[YVWVUXVQOKKLTSVTMJEJLMPPLOVTJFGIJOKMRUWRSTRSOORNKRZYUNJDHONKORTRNLJJOPKWbdZSZ\ZWTTQOSWXWVUTUZ[W[ZTMCEITUVMHRRVUPNJLKGOPMONOOLWZXSSQIELSPSPIHLMKHGIJQX_\TNPRQKMQNVZ[ZUVURRXZSSRJISX[_YWRWYZVPIKRWWXZPES\ZPHSPNJ>INDHQLLLOTVOIFMLLLORMCEALOMHIIEGCOTOOQQNK=?V`__ML[ZRYVQMSWUVWQAHOJ;MT\]YS\ZVVTQMLPRSYZZ[\XSMPKIILILQQUV]aa]OMSYWUPIGLOMONMMJEGNPMQV[[]YVSQRVX]ZTWW`dcTPVVTYWSRQUXYZ]XEHSRKDECGOYZQMONRZZWRGIKOUVWWMHNNIKSTTNGLSTRWTKMRSMC@KLHNLUWOKQQSUVTLHJMLMRRPNNOMNONMLNNK>ELHFHY\\Z]\TOPSUW]ZUUOLQPJMSSNTWRIKLIJH@BHKPRXVQNRZWTRSRNMMPKNOTZRNQORSTSJJKFGILJGOVWXSEIOQNPWWVPNYS?QQDPPFDGHE=CNONJS>-AJCKabPWZM[KKVPJKWWWcbZUTUNSSNQRTTVLUPMRTTXOYVXSSMMRWWYVQYWWXURRYZY`caXQMNXSXZWWUUWZWVWVUXZWZWTXV\VVWX[]XUYWW]ZVUPRW[[SWY]\WWW]ZVQZWUXVWY]`ZYWTRRVVWTXZVWVTVZVVRYQWWXSZNUXUVVUYWYVY[YZRTVX[\VOPRTTSTTZZUVZUOOQRTYYYZYVXZPPNWWVVQPPNVLYWTPSWWLYZZ\ZVYVUPVYZZZZXUPQVUPNQPTONTTUWTMMOSYWVSWXZULYQSQRW\\WSVMWXWMPQPTV]]RTY__\UQPUWZ[UTX[SQLMTTPLOPSXW\eiibae`[`^VKHHMPTZ[[WRJMOSNPRTWYYZ^a^XMMNPSU\YWUVTT^^\[[YSRTUQQTSQY\ZSX[YRW[[RPPOHBEIDV\_\^[XcieXKNRPMOV[WRLKPY]XXWQPQRIHPPOMPVSKMOSRQPWXUTYZXX\VJHRUTQOJPUUVWTSNDTXWYZXNSYYSMHMTWTQWUTUOHNWZVOMMOPPSSPHNOLE?CJJGHLKOSRPQNPOORNJMMK;GUYWPVZRQQRQSXYVTPMIHLPRLLRQJKPQNMINRQLQPSZ\YRUTRMG=DJJLRVX__\VRPOTUPMX^]WUTPNLQ[WQTQLRZ\XXZVTMMLRQIIMRVROUWWWWSQNNQUUOOKIFDCDLOLROOH>DFOXYROTTUTSPSTQPONXYVPMTSTSQOIERVSHHALTXWZ_XU\^YJUTOFKNRVXUZ]ZVX[ZZWOJFOZ\[VQSUSOUVTTRXZ_]\WPEISOSY[TJQX\]ZTTURRJFKWZ\]]]VKTQNUWRU]\VTSSKNTUJUUVW[VXZVKGKRY[\XSPLLUWOGNVURRTYYURQTNKQMNUZYUIFHQUOTYXUPLEFGE?>IEIGO=DPPLPQQSUbe[U?KUQTQMPVVUUTKAIICITXTVWZ\[USPIIKPPQQTSUYTKORMABC@CKMOTZWXZVYXRMQSONSRLFHPQQQQRUURUV[\\TQPQWZYXXU[_cbZRY[QDMOOQOTZ]ZSJLUXSNMNOU\\VPOMUZ][RHIJHIJNQRNHHHGNQGBBLSUSSOOROSSPRYXSRNSXVWZVQRVSSNNHDKTVNLSSROJQVPLTSIINKGLPTNLOSLS_[UQWVQPNKMOMLOUVZXQEGGEMRQIJUTNONIEGNRNIKLMLNMGGHMQRMNRSSMPTUNLVUSRONOSUOLIKRPJCJUOAKLJKPQQIPUE53FLRVVJG0,GIFN_e\XeTGeMLQVWUYTWZYVRSSTKVTNMUYXUOPOUTYNZVVTTQMNWY^ZWUW^YWVMSVWZYZZYYSZWWZZSXVZUUTXTSVUUZWWUV]`]VX\YVZYTQVWVLYSXWYXRWWSPTUVYZYYRQWZVWZZYTWWXWYVNU]XTPOSWWWWUNPWTUSSWZYSUXVUVZXYZZQQXTOVWWLNRRNQRSVWRRUUPWMVVUXVUTTTQUVORRSWVSNOZUXNPXLSQYWUUVXXZXXZNTRVYXZ[XWYYQWVXXQURMOVUUWXWWXWVWXZVZXSSXZVXTPQPYYWYUSMNQZ]]ZY[^a^[USTUY^ZUY_[USTVRMMKPURQQVTUV`b]U]_UNLPQXUWWXWQIGNKBGPW[XZ\]YVSRMMVXZX[WTSWZ]^]\[XUWXVSNMQSPNNRVYYZXWZWTUSPIDIS_d_[\[X_a]YTNNUTNRSQOKQUU[WLKOMPUUXUPQT\]ZMAMUWSOUUTRUSQW^WIERVVUMILRPPRSRLFCUQNRVPPQJHOQWZYPQVVTUPNTVQLNLFFMJJKKKNMMJ?HHPQX[YWOUX]YSXY\WONPRQPRRMTPONJIFJOPR[_\ZTQPU[_^\ODJOQNJHGHJ=BRVTQQUZUSH;CNTMJDINLMKAK^SKLPPURORMO_^E)('!?NZVMNSZVSQLJKNQORPITXRQTW`_XIHHJMPRPUXZ[YPUTPOPUTWWQLLHCLNFFNMGEHMPUNEGGG=DGNHDIPHGPTPQMDKUUVVRMBLQIKRQMEISNPOI@:AHOOHMUQVSH>8(!4?%JYWD87WmmUlPQOMb^Vano_XRXQXUOYVW[UVX[[YUYaXY\[WQZWNLXY\YVZXW[RWchf[SV[ZY]\WVZ[WQWX[YWZXZONSVYVVYUVZWXRY[_]a_baZXXVW\[XTTTSRNSYZVXW]^YOZYX[\YYQPSUTRYZXUXXZVTQRYVRRVZVXWX]]\XSWRWYPZYZZQVUPOVRMTVVQSZVXVYUXSTXVXRQX\YVXLVWVYUSOYMZZVUNNUVV[[YPRXZX[VTOVV\[ZXSQOMXSYZSNWQRZTSYNUUX\YRXVYVVXYPRSTUTWTVYXUXV_]ZZUOSVWY\[ZTVYYRTXWPRQRSWWWWVTTTWVUZWUZYVPQQORUW[ecVNYZWUTQQSahfUILOPPSRPKKKMORWZYQPY[SMMSUTMGGMRX]YUVUMNVTVWY[XNKHKNRONLRVPRKIONHOWZWUSNMRXYVQROQRVVTOR[[YXVVY\XWUUQPRRVRHOVYZVOQUWZWQIJNQJGMQPQUPW]\VXZTOLNQRQZ][ZWPMHRZ^ZWYYWYZ]UILUWTTNNMRSUUPIKMMKIMSXZRU[ZUOSXVNHIGHLPOHPUVWXRJGJLRVWULFMMJHNKJP\hjaKJSSNTXZNEHNOONSUY[WVXYWTXZ^\YRYUMQSUSTPJHIPWRROMSUVY^\WNGUYURMVXZ[Y\NCJTWYVPFDGS]WTVYTRUVUNJ@FQUUXVYYRIEFCFIGKKJOQTPMLRMNQRMC@LROOMPUWPHOPPQUTPOMOQTNKJHILNSTTUZWRPMIENQPNTRMOMNLQSSWYXRMRNMNNOJKMORUWSLEMNLHLLFOTUTWWPOW[WTPGEDJKINZeg^WQONQPJFDHPPMQVTSWPSSW_XUSUUMGKJIVWXWPIIQSLGGHLLFIOZ`_UPMNOPMIOUZVQVUPKGHJKHMQ`e\]^_ZZQOKR\YI>CAJRUYXWWO=;LRNLLQSLKHDJNFJI@@MZb`ZQW^c\RT]_^UWTPKNPTXUMIGDELMKQZ^bhe`ZVNNTQSQLJRLJPRPLNY[YXVU[bbdf\PW_[YdpxzsjYVRMHLSOJKWZTQSRWWVZ\WSOMIFKRSTSWWXYYPSURSOMOIGOSURTQUSDDGKPRLLPSPTQPQUX_\WWWKMQTUQJJJE>FKJNWVTNNVVQEAGIINRPKHORQSPMNNFDFPIIOQSRPRTWQLRX[VJHNMGFKLIFFGHLLOTQNOTPIGLJPHEIIJONKMSOTV[^`[TJFKTX[RLJDKMNMHJ;6AMMHE<>;55MQ8->JD;;=;@jj]O_b\b\UVW[USUXYVXTNSWXUVVWUUUZ[YXZWUVYUQLVYYWY_YQX\\Y\^XYOSQX`[ZX[\]]]]YVTZXZOMW_`\XUU[\WVWZ^_a]\XZ\ZWVWUY[VXUTVYZY[YYZZYXXZXSVZ[\WVQXQMQVZVUZZZZYZZYZWQPPUVVXcb\WWROUQUXZZW]^YUXWVYXWVVV\YWXWWXSSRZZRMUVYVYYZUYZWZWWXX[ZULOVTWYWVWRUWYYVXNZ\YTZVTWQZRWUUSMTLXYTTOPWZXVTVPUZVTXZURQRRSYVNSUXV[Z[WNJTXUY[XY]_YSQWZZVOKMTYZXXYXPMOQTVSVUQTTSUVURSYXPINVTRQMJMT`_Z[XSX]\VMKMNPRUWXXSQUTRNMQKLNLKQTTRORVXTMQQW`dbZWQNMNOTTPSUQQPRWWUSU\WUZUMQWVTLIPNKGVXLGNSVZX\]^]X[VVNKNUSPTVTW[_XSUZYUQOONIDKMNSTQOSTPMIISQWZURUZWUOOMLLTXRCIRRQZ[QJIMOWZWPHHQSSSPNONJILS\]VTWXURQRPMMPSWYWTNKTZZ[XMJNPUQRTRLGKNSQKFEZkqgVIPOJFGG>GOPKSVY\\[[VTXWPPU\]U[]UIHIOQPPRSTYZUNRYYSRUXVOHES]aYQOVSUY^YIIR\XRPIELONTPRRTSZYYYXSRSVYWX]_ZQEBGNPOOKKOTSQOKBGNRPSQQOKQTSSTNNQUUQQSSTMLNNJGNLDGMNOSRY[YZYTNBMPOOQVROMSTWYUTWQHHRRJHMQSOVWUUZ]UNMQMNNNEJQNQW\WQRTSPNJLNHCHT\_cc^UFKTYNB8JTRFLVTKGALOTVSRMNOSULLMNMKLXXRIJD=DS\[__TPZ\VVX\[\UUPUSSRKNLMNIGMRQMQUYX\be\UQQX[UKGL@BTZWOJSRHDGGQZ_gicURZ\ZZfmrqh`YSLFJV[\X\ZTKPPSQQZ[VTTSPKMKLHKQROQPNGIJLIMRNIMSWZZUXYUQNFCG@DMNLOSNLIKTZ^_\VRTX]XNLRQMPOGEPUSHELUWPJPSNNSIHLLIGDBELQSNKB@DGMQPJLSVTMJWVH@NQMJDCHKOPAADGCDMPTWWQQQQNIKMJJIKHRXUTVUXTUSMIIPSQRT\PGGKBKTKAEGGPWVH4>Q^d`O8OWXTS]^YROUJ;MwcUOQMTNRSRV[_]VSMUWWYQSSSQY]ab\WUSYXVUNXLQUXTYWY[YUQYXXNVRWXZXX\][VVQVYZZ]YUV^dbYVTX_^VYYWZXXVYRVZ[XXXY[][XVUX^_^ZWRTUVZZ]WTZX\]]]ZSSVVUZZ\[XYZVVZX\WUTOZPTPV]\]ZTVUPSVZYW\\WRSYYWUXYUY[XV\^`XNRVZXZUTUUVWYXVSQVZUUTUXZWQQPLOVYUWRYVYUSQOX\WUVZYVYNQMQYUXVMMUWPLMVVYVQOYLSRQWVXXXTYYLTOQRWUXRRRMOWYUOQQUZZVUY\ZURSYZVUUWUSPJLSVSQROQVVVTUTOPSWTLNSVRNMQTRTW^aa^WUXWMJRQTMSXWOMLLSTRRW[UKSVTTVQJKV^\[WXUPZ_ZSSQRSLIRUPQOJQSRTURTOV[\\ZVQMSRVWSRJHPRLRXWVWUWWTXYRNPIELLKLVUTP\]\WRYZUQWTOMSSSTWURQNHKOPRTMZ\PNTUPKHMROLMWVRNRWQQUVTPJJTXWVQOVYSRQLGHJJGJVVVXYTNNUXRNPWXUUYYRILT\XUOMTW^[RUXTPJKSVQNGPhlbPFKPPJGJHNUQKNSSXZ_`_\\ZXSVYZRTURKHMUURRRUTRLJQYZ]RHKVWSIHO[`\SOONNW]]]VPTVTOQQJGFBLTVUVWWVWSUUXXVXUW]^XTLKGNVRLHEJNQSQIDJPQQQUQNSX[TRVXSRRQQLQSRLLLFIM[^OJSPDEPSXVYTXVXSSRQNWZRUW\^a[OSRPRUWQKNVSMPNLOUQONPLFIPPKQSPJJWYUNKNKJOPPKEEV\^`^YOHFLRIBKUUNMJIKNQRYVTPMNKFHFEHMSVUMLMSS\\VRLEIONQSTRTUVXYUWSOVTQEMQQOMPUTOGPUNK>=FPLPQIHF^bZUY[PIGAHNU]_ZQYXXUUU[\QMV[VRSULKKNU]]UJMTZ[YUSZVQSXWTRNMOTURQSRTMKKJMV^b]ZXPTZVMINOOUXVQMV[SSPJBP\fhaXY]]\TU[cea[_YRNS[[[XTVOJMMLD@NSRWXWURLLOPPLGBHJLNOPPWXWWUOLLPXWUTSSSMONNQRQJFFGITRQKMSSJ@BOX\VONQRTSKEMQQQJDFPPNTTTVSIKMIGIMDHUYRUUPJNIGNVXXXVQNRRREHSQLGD53BNTQIKRMG?MRUYXUTQMOWXRRLHQZZVMNEHJOVSTPKLJMV[XNVTPWZUIA@@GPYTNJSPQ\V@=CPUQ\d_UNK:7LV`OPSUVVTLNTVXRYYWXYUYYXOMRVT\`ZPSWWVY\ZTWWYVXWUWXRV\_\VSY`b]YVZV^ZWZZ\\Z[\VZ[cd_ZXVW[VTYXROVVVZZYVZ`YWPWYZWYYUYVXZWSSXXVYWYXSONRU[VQWYTUX]a^YTXZZXX`a]XXZRORUZZUVUNZSYZ]YVUXZUNOVX[XVUYZWZZZ]YQUXX]ZXVXUWVTMNLLWWZPWZTWQYOUPMSXWVXXUQNSPPW[^]VWX\ZPORSURZVXPRUOZMOXYSQVPMSQTXVUWYWVZVX[[UPQWUMOLKU\[VNIKSWQRY]^YOCLZ[ZVV\]XJBDKNRRSVXYZUUUTQPUYUFMWVWRW_^ZSZ[ZZTPPRNMRX[ULTc`XOOSNJOSY]\RLRRZ[UJHU\ZSUURRX\RQQONRPKTTWVULOPU\YUPLOPSTOOLSSSRUURRRRMPW\ZZWW_b\WWLJIB>JNMPSONLFHNPOQSPPUVVQSYZ\_[\^[PJKRSRQPMNV[WMIMMSUSRWYZYYXVTVYWPHGRROTZ[^ZVMNHGGPLJIHRW[VUPORTNJU^_WJOPMGFV[XXXTUVZUT[\SONGLRRNFN^_WMHFMMJGNUWUQMLGKLV\cd`_XZWTYXVNNPIJT][VVQQTTPILQZXTLLRWSLLPS\XNPPPUYZWURYVPPQRLGHIKUYYWUWUSSMMPT[\SPUVVZZPJQUWSQRPPMSRTQTPNNMQPMQ^\UGKLSUSRPNPXXQNPOMOUXLCKOLPPQLMKJIQXUPVSOV[[TQQ]_[NQTYVWVTOSXODFONTWVPMNMFFKPLLOSNNSWU[_XOGMJILKKKMQUURTSTY[WJRYTKJKGMRQOPMLNSTTLJMOMOOOLLFLNPRSLPRMPSQPTZTTTNRVWVXUPLHMNSOR[TSSQIIQPQL@BG>NOGKP`heZY_M?;F>EEJXTVWZTWSQZ_`XTLJJOMEKKFIMPMINOX^_[[ZVQSVVMKKMOVVURROOOPQQOTR]YUST`gg^ROMTUSPNLUZUQWWWW_hkh^WXXYSLQ]`a[ed_TUWXWRLIACGJQRRQOUWYYVSPSVVLDDIOTOINORXWLDIGJHFPVSNELWVYX[^XIAAIMSWVNJOTVPIKHMQRKOTWSMNIJNQPRKCFLSZXPKJMVWOGQ[WJJNSW^ZRRPMLJLQRMJOVYWTRTPMPNKFLMTRQSTRJFJQTQOTXTOTY[XSJKINTQOPIKPORSUVUSTQKLRLKJMUZQNHNQIOYPSVRMHPG=FQMSGAUOE:4&J`XRQX]dVQURNMPRTVURTQUXVXRYXNSWMYVWUWehcWUYVWWRXQTSX]\YQVYce]TURUYYRSY[XZ][VQY_\X[[XWSUW^YZWYYWOZZYXYWYPZNOWYSNOYZ\VUOWWVSQRWVZXWOPNOY^[[]b]WUYWXYWU]c\YVWTTOTZVUMNUTUUW\[][PORQNT\a`YWXXVZZZYUXYWX^\YUUWWUZWNWXPYUYZZVMZQVUNYNUXYVWXOYUYVZ[YVVVQVYOXYP[OQQPSVWZQTSNQRPWYXWVMLWVXUSZUUTX[WPORXVMHGRYWSMOV[YLW]^ZSRMLQSOMRX_[SQUNHBGFO[]\XY]XVQY_[MBLOQSUZ[VV\]][YUUURRZad]QXZVQW^_VMMLRX]YOMT]d\SKJJHNTQTWZYTLKHJQQJIMS[\VPKR\aaZXTSRSMJIJMIJMMKIIOPTZ^VPEI[a`ZTNJIKOW\^\XRLSRNPRPOQUY[ZZQIKNNQQT[_\UYYVVWVPIOSSSVWWWVWTRUVTSXZY]_YNDGLMMRYVVVPRVQNJIIDJJQWWSNKHJNPR[`\XSQOKGELTOLQRWZVPR^ZOFHGAB?FJWZVPKHONOQQRRUMJQTRRNMUZYTTW[[URUTTX\]]bb]YXUMQVSMORVXQPKMMOHIGMX]Z[]ROYUNJPUURQQMPQRLINRNLOY\SKIDEQZ^[SQPVXZPLJOUURSTMFFINPOKHGITSNTVXQIOOQTPSSPPRLLOTQJHLPNHNRRUSQOOQNMRQKLORQUZZYVSTTLPQSUPFCDNRVODJRTRYXVONONNNKJFLNJIJLOTZXNKPUNHKNQQRSJJNUX\_[UUVTMFIPMPMLRVRNTY]ZQHJKMQMHIOTQOMMJNPOUVSS^bYRNHIPRNJHLGA=DFJQUVLOQQQSTQOEGP[PPISU]baad^F815BKOQWZX\WROIHU``]TGGLPMMTSSTLHPPPOHQ^^[ZTICSWTOPOPROSVTWYYQKNRMRUVOT^cmog\MJJSMENVX[RMQ[a`afhdWLQV]YQJW_]djle_]UNOPOPRRMQTXXUVTVWWRNROOPMEIPSUOGMRLLOQLFFLJJNRRMLMSUUX\]WH?DHIOUTLKLPVWWUTCCADJNIHGCFKOLIMOMHIJKNI@DHTTSSY[ZPDGJQNOOLIJNMFJLPMQUQUXWWWY[ZVROHILNOKFKSTWULBIMMMRVLOURLIJOONLNLVSONORPOPSKMTUK@:DJGIGFSSVSPGWDEKTUNHFA)0KWaV[ST#CU^LJapueSTMTSVV]TWSRULOVYYWTXUXLWVXRZdkdUT[ZXTWTTX[WXVPRTY]\YOLQLYVQOUWWXZYTSZ\VSVWZZYYZZUYTVYYUV]^UTUYZWYZVWUVTOU]\XVTURUXXYXWYWZUSQW[Z[`^XXZYVWVWXZXVWSRVUUYVVZSRYYXUUVZ\[WPRQPSZ\^YVZWUVTZVWZZUUacWUQQQQOQSTTURRV__ZPWQWUPORQVVOMNQQVYX[[XMNYVRPQSVUMWLMTVVVWUTTRMLQOXNTPYLY\YPPSWOMRYYXRNXKOOVZRKLHQ[ZV]_^ZWXXNADJOTY^a`\YUKELHKZa^TSXXQJP]^TMKLOLKNPNSZYVXXYZYTUYdf^SOOQUV[[TH>HORQQRVTPTQPQNJHNNPVZZYSRQOOTSIGLJOWUJIS`gjc[USUVSRNJMJJMHJLMPVUYYSOMHLPX[XLFDELNPVY\YTUVNPUTPOX\VONMKGBD@KSWVUUUYSU\Y[RLPXXVYZVROVWWOKLX[XUZZQRTRNLJLKNTPQUTMKME@@ISWWVRHD;CNT]]WSSQQSUSPUVTPNSVXUXWVNJMOD7>ER^_[WOEGPORQNLLJINW[ZYVTRHNUSYZYSPLM\^^]_d``b`ZNOQUZ][YWRMLSSLJMRWXXZVLFJLLPTWONNPQOQMIEFMSQQNVWRNORQQNUW\^`YUQPLMUYVSOSSQOKMOPMOVYZVOILIBCGQTSSROIMOHIONMMNPTRPPPNPNPKLNMKOPPQTPJQVRTW^^]\XUNPLJKMJKPRPMPSURPONNNNLJKLNROBAHLEGIGKOHKQROONRSTVQMQV]\ZSTUTNEMPUNJMY\\XRTURROMLJMLMPWXRLMLOWUUPMINVWKONIOGFGFIQ]]UJJMWUUWONQQMMRQJNKOYLSUVWQMQF:F<6FRW\ZWZ]PGHNNSXOSRHEIMTZ_]U[WSUWWXSTY[[]]WMS\YTMNUPKMTWUW[ROQQJIPSTURT\a`ZRLJNPOOUZ`_ZX\_b_abZOHMYYUNJKQQT\][_c\TRMLLMSRQONKMSTOVWVUY[Z[[URMPQGCLUPBJSQKMQPMNRRSUVXZYUSQVUUAFMTWWQLJIQXVSXUOJEDIJMLIMQMG@EMQUI@ASTOJCEOW\XYWLJOSPLKMLMLHLRUWWSQNIMTUUWWTVYYSMNJKSPGHSXXYSNHDFGOM@9IROMPPHFMQUUVVNMOSNDJNRVUUJ@IDHPNFCT[XMFEF4HWUSJ58GCIZZ^SRN?*RiW\rzz{dYTV[VUUQUXVQKQVYYOLVUQUYVYV`ha^XVVUYVYZRSTUVYYVYYWWVYUTNZWVYLSY\`\VUYVQQSWWWZXWVYQORYTRXYVXVWWVZXWVWXRQWZXXXWZWUVZZPSUVWVXZVTTXZWXWVOSXWVTQTSOPVXUVYZWVYXXVSQVWVYVVQSPQXYZXWLLZZNYY[XWWRX[]YSYPSRQNLRZVVVTVXTTSPZX[YXSSXURTXXVYZ_^XSNTRSTY\_[VMRUX]]][ZXVTYZTZQWNTWV]]WYVXUYUU^^YSTXXUWYWRRSOUZ\\[WVYSTWSJEHNOPNVYXVVUVQJP[_ZSQUX[X[`^ZOLRTRQY[WRYXSRWZVNKNXVUPVY_ZUWYXVNCFLLHO\]ZNNV]ZQPQSQTVUUVPNSVWWTMMHINSQK?PaotobUX]ZSPQONGKOKHKLPPRZYSXWQNOZc_VQKMHILOW_aXRQLNWXRJOQG@CHKMOPHGMLKNRVURMR\adgQWYWQW\RLIX`^SIHNTTSWWPSUVVVTVRKIOQTPQVWOIBCIIPVTTMKJIV^^YQSTVRQQLPTQGHMNMSWVURPQUREBLW_\QNUOMUUPKMIEEJRUUWZWQOQSOT\a`ZQSQV]^_[YZ_feXWXX[`bZTRNPSUTKFKIKNOQLGEJKNPW[NHEGOVSMJLQVWVUPMMLORYYRLKVYZYTTNMRUWPMMQTTNNNRTTUY]ZZ\[ZTSMKQVUSRLHKNPOONIKKIKRSPPPMPQLDJJJLNLSWTNTXSJHS\ZUUSRPLRZXPCFLKHGGNNILQLHHBDDFMPOGIUTMIJPVRWY\ZXNOOOMTXQJPVVWVSTRNMMOQSMQZXSOLGJORQNLFFLQUOSONPNUZXSONRNXVQPLNQQOKMQNTZVPJSMNXZZRRNJUZVSMJRXHPAHV][TTWTXT>3PSXSKTUQONMNSOQNRLLKIX]^`]VMKOPMJPRRNU\]XOIPTNOPSRNOWXZ\XRR[\ZSLIMNMPQRT[\[[WXZSLEUZY[_][UJX][TPUWRFHSSIGHPT^aYUYRMMOTTRMMLQRNNSSSPPX^_\WPLRMJIFJHKJIKHLLPQQOKMSSNUUJDF\VRJKKHPSSRNIJKRWVTPXSPPSTROSSOHEIGEIC>EVYQUQMRXWSSSOLTTPBHMNPPLLPTVUXZUSTOKHOVTRQMLOQLKOTPPTYWUPKGFGKPQJDEKNMOVRHEIMSTRNDLRLFGSXTQNLLPSONNLLIRTVMV\L5NJGN?#ADFJRR_VQ.-[u{h_prxp^QPROJQPQSS\]UMNQRONVKSU[UYWY]daZYWZXTZYZVXVWVZXWXY[\ZRRYSSRNQVZ\WVSSUUXWZ[[VSMRZVWWWVVVXZVZXROSUZWYYWZZXYYZYXWSYYUTWYWZVW[Y[V\`^WWWVTUUVPNWRUTSZZSQSQYZ[WVMLNYYXYZUWYRTZXVTPONLMWZYWWUVYVVNZRQQSOMUYWXZQSTPQVZYWZX[WYZVUWXXYXW\\[[WVWUQMSYVWXRRTXVY]ZVOPLOQNXYPPRTVY[Z_]YY]\W[`[VY][VYWRTUXTQTUVSNKQUPMNWQONQNMFMTMJSYXVTUXZZTT\^`^]^^ZWQTXZZ^\UNUYVOVZWNFNQPMY_b^SPU\ZPJINQTSVZ\WNJU_]VQRPQR\ZWRJ@GQZZXUQIDKOSQJHWisqiWRY[WTTSROMPOIMJJHMXXPUWRQTUWSTSQQNKTXZ\]XSTRGMTUOJHGOOIBHNTVXYa^VPVUYVMHELQUSONPTVUUWNILSY^[OPTXWXURSTUPPNOX\]VSUSPMLKMQPPMQVVVTUTQLGILHJRTNMQJGFRSTWWQPLMNKNVWPEDQVUOMQNNSPJBFORURHOTQNPVUQEDPSWXTPNHBEFDHMUXVWVRQRTQHLLKFHQSPSQFLSUTSRTYUQUTY`caZ]YVQOQUTNNMMQTPHGLRSNPWSVQJDIMKIIIIPOOMNOKJKKNOPRVYWNFHQRRYSC@MZ_^SHKLT[ZVQOIFKSUUTSNJLRVVTOIGGHKPUVZTOLNSXRJBEJMUUTMKKJIHOVSJRUPMRVVXPPJBCNY`_VPVVW``ZTUTNJTWLKKLUV_`ZOFJGMNSYXXYWPRRWXYYTICLRRNLMT]`XUTOMJMPWVSOUQMJINPPRUUHRY`dZUX\ODEGFENPK@IGC<@NQTTTVWYPHLY]XQVWQQSWZWONLJA@NYXWRQRUNIINTVOMKPRTQPTPPLGJNMMLONOS[RNU\c_][]VRTQNOW\]YYacZKQWUXadd__XPGMPSSMOU]a]USTV[YSRTKEIPWYOEHUZULQZYVSNILJKXZTTPGGFHLOPQNRSQLKLLLOKGEGPTTXWURPMSVWUSNQQORVOJNHEPRNOSTPVUURPUUYVMCFGKIILHHNNPNLMRRWZULPWZYRNNTYXWTUOFO[[WQQOPTQLLLINY[TNHFNSNJKRXPEFONRVTLMJKGGQUPEIKJHHPPLNNU^hi]NS;H]]dmgaYR5:54K[QXKVNNOWWX[^SNWTOVVQ`ge\XXYZXWXYXWVXRNX[c_]\ZZXTUX_ba_[a`ZXXUMPQRZVWVZQOQPUUUWWVVXUZZTZVWVTNOUVZXUZXZX_a]VW[[WVWXXUSOUWWWXYVVYYVUVQRPTW[XXSWSUZUPUTLLRVQSVWVVWYURTVUZUZQWURNZVWXUROTXVSWROSTSRSUZZZYZYLYPSVUVWVTRTPZXQMZOY``\[Z]]\WTPVZVZOXZYYYY[ZZXVZXONRPOTQYOVVWUOWYVYUYXWV]`WSTTWXRNRUWVYWXWXZZRKEGS]]TPSVYXVRLHLSWZVX]YQNJMX[VRSW\[WTVTS\a]QMRSSTZ`_VRV[XONTOQYVOTRMS^^YXXXTKNPTZ[WUSNQZZXRQNOPQJPVTTXXZSPURKNNMNKLPV\WQVXRMNQSY^ZTRPJB@GQK@B?>HPOONNOOGHJFJXYNIMPNSOKPJGIKD<:EJMMLKSWULMNOJOOQPPONUVVNIDDNRRORSTTQJINY\_`cbYZYTOMNU[VX]aaYX\]ddc^_^a\URMLNLJNX^`\YY\]ZUNIJINSYZVLGPWUMNTWTNIJOOQPSPMOJHIOUWZZXTSNLMKLIG?@NONIHNWRKIJOSQX[TMPLPRONTQRWRPPTOJOKMTYUSROKRRPLMJGNORNNRLPZYVRJQSPSRMDKPRPSRRPPTWXURSKGLJGIKILUYWNIFINQSSSTRJJPSPPPRTUWSMSYTIGOKGGQRHEHU\_ZLLHDFZ_cem`aceL4*,G;`uPOVKObgfdZOPQXVSWcd`VORZ\XYRKSWc^YTOU[XYY`a\XWVadgfcfdSQTPTPORWXY]ZWQOPQQTZWXXVZ]XVXVVXYYWUURYX[ZZTWXUOSUVMOZYZW[YWNZSWRPXWYRLPRYXTY[[RTYWZWOWMTTNPYVQYWXXTUTXZYWXPVPWYXWWSRXSTQOUWYVOZPTSSPLNVZ[[YOMSWTPUVVYUVZXYUYZNX\]Z[Z\`]VUPUVVVRUVXZXX]^YWWZZWVXXTNMYQTRPQTXZTX[XUSLSZSXXXRRPSVVVSVWQQXYWNDEDQaaVDEOSW][[VQOUWXXYUQSRLQTRNUXYVTPPJPX_[QV]VHLS[WTU\_UP^]SOZ][UTRUXTHM[^[XTRTWYUOGDV\``^RIMUVOFKTYXRSPQYXTOMGKQMOQTTUTUUWROKMOPJHLRSPPUVVVURQW\Y\`YQNPW\ZUOWZ[Z\XNOOMGCKLQVP@HRNKMQVUMLKKKKIEMZ^\XVYYPHHQ[ZWSNTUQIGLNMVTOOPOKFLWXWRPQOQUWTTNFGOSTSRLKKFMX]YYVYUVQQU\ZWXYOLMOUUPOLLQMEVaf`TRSRRTQQXWSPPVUGHJPOOSSOQ\b^W`[[[YPLHDIQX\YT[_]YQVUMEFLQSMMLBA@FLNSWRRSSQPPRPKKSJPOQUNJFAB@DAEJKKLSQMHHJIOPQMNGBCEHMKGKNQTSNTRSNTTUXQOQTSX][Z[^WKKLMPQSPLMNLILMUSQJKKOPMJLMRSTUQSUUTRNMUUSVY`bYWVSMGHHJMTOSTIEMOOPPMOPXOHGPTTPZ_`]XSUYXOJNTVTSVUTWUOOTU[XRPQWXXZ_^[XTOORPQQOORUPOKLNVUKKUTMKIFKNRRRJHMMJMPVLLQVPJILMSQRZQ>KOJOUKFLMRVK?HP^\^_\N>CGMUINSMU^a[UT[UAERSV\ZRILQVVKJWYXVOH?IOKQSNPQYYUPMGCLX[YTNLPRTUSKMNNLOX\^[LMTUQY]adb_]_\WSKVUPHOU\ZPU\eeaZY[VQUWTMMOJRZ]][SZ`a]VQEQTW]_\SQRUYYUTWTOMMPVTNLJBJOLGGLPOUZ[YVMLNJLLKNRTTPONSWUNKQRMKX[UEKNKHGQZ]\_`[SLEANPQTVSRPKSVWONOPQLPPNNMEFRUQPRSOLNPPNQPKKTWWXYXXSPOMJFJNNJJLISX[XKBIILKQQMPJNQSPRMPURRSTTYUKLNMKBORMHPVX\ZIBHWVRRPLPSTLNRW\ZWRMILNKJNMNSSUVTPOQNHKMRONMUZXXWTONOOU_bYJFPQMMX^a_]ahg^TJFKLKJLVXSVekjcXYXVTU[[YSLDEPUVJGV]_XNLFLZ[[[VOSZZUQWUPNNUSRVWUKLJPRTQNLMONTWSNMHIMKFFNQTUUSQOUWSSTTRNNWQFAHNTPOTVTY[YRPMSVWVUUTQMKQ[XPOUYXQLMJLLJGOZ\WTSOOSPQQRRQTWUYZVVWPJGKONQSRMRSWXV[WNFIOJCFFGMVOKIMLJKT^]_\_ZYUUURMG?;?RY[MLNTY`R69PX^YNMVTA PZ>@UQQRRUcgZSJbbcZPLQWde[UUSRVQNUWZVWXWZNVV\XYRPXY]^ZX\`_``b\VWZSWZZZTRUXMXZWWXZZWWZYVPPPOPNOWWWV`bYXZWZYUW[ZTOTPXXYZTYWXYYYUZ[[[ZYVWXYZWZWVYY]]]YVXWVX[XZOUXWVX]`a^XVTPQVYXPVXVTUSVVXSQPTQQWXYXW[ZVSXWUUQRXXWXY[\WWYWWYWZXYVWVWSXWXZVWUQOYUVZ\YTXZZYYWYXWPOPUUZWZRRZUVVWVYY]WSPXX]ZWUWSPRRSTVVY^]XYTLMOOTZ\XVY[ZOOLLXZ\ZWYXZ\[\XVUSXZTMIJOSQQPV`hgebXTSPYZSW[VMNRQOGFLOOQRTWWWSQKHHKMPQQUVPJGIOXWYYRKPQT][XZ[WSSPSVSHCMJR[`ZNMNPPUQEKRTRMJHKNRVWOD?JPUWNPNMMOQTVUSPOQLKLNPONTTSSOIFNPNOKHFIMNRXULLTVVTWW^ZOKVY]\SQY\\^`[YWOJONLOWVPKQUSUUZYUSWWOGCJQWTIDPVQOOMRWWTWUPPTSRSNJFORNNLLMLNPRQQQNU^_WPX^XRMHKNTZWXYOHQVVSQQSSLIOU[^\WPOS\[XSRSYXRLOPLJMJLRRLLVUIEPWQOPTSWUSOGLPQTOVVUSQSONNOSPKJKOPUZVMMSQRNJKRSRLGFNRQOPTUZSLJEELPNLT\YNJLRVSQNQPPLMNSRRTPHHUTLTWTNMDBKNHMPMIDJNRQQLNOPRRWVNHJPPRMMQQTQQRNPTVUV]ZSQLIGMJJOMMOQOTVSSTVNNTVSPGHOTTUNIKQ]`_YPTSRSONLKPVZ^_YWTOJEHNYYTVSOQSWYVHPZ_YVTQJLKGKTVNFKMNLNQOLNFLSRY^UPQVQEHFNXTTSYZ_RLQ_e`]`SJQTXPY^YHOXXXODGCGFJNLOOLRRQPTTHFUTMHOPOEIRVUX\Y[WPQUXNILUTPQPRTW\XPTXYY]]YUQI>ADNX\]_`da[VOFJTROPSQSQ]ii\PMPQOUXXUPLCBOVZPIOMPOJMLQWTTTJIQSUSORTTLV\WIVWTNOMLTVUMLRVYYZUNENOMJ@ENPLINURMTVRMNMMLRTVPJDHOSSTSVZYUWWQSXVVVQNMLNSYZQRSSTSPPLNKJDNX_^YNIPZ]RIHKJMOOSUOSUPMKMQOKKISXYWSSUXSJJNNJJKFOWVNJLLMLRY]XYZYVXXVZUMJENTY[WOJFXd`NC?LTK@CEPPED59=>B9C@KKUNRTZTKXOa]XRQUNVW`^XWPSXUWX__YWNLQUVOYOSLRXZ`\VVYZ]WWSVUWTNTWZYVYWWNNXVXYWVZYXWTOVWWVZ[VSW^]YPSSTXXWXW[[TRWUYWULRZYWXUX__]ZZUYXYXUVXUXZ[[\XZWTTXZXYVVVVYXVVXUXZWNMUWWRU^^WURQSSSUUSNTYNTV\^^YZVYRONSRUWSUZXWZTWVWSSWVSVZWOOWTY]\WRZYOY]c]RZWXYXYY[XZUZZXSVZQTWPRZWUX^bbYYOZWZWXXSLNTXXZSNJXad_RGILT[`\RTVURQQLUYVWV[USSSYXWZVWYVJINQSPNPLXadce_YVTXXSPRPPSWQTSKJINW[\YONUUOIJQPQUZVPONGIQUZZRNUWORZ\XY_`baZNGPMSWWZ_^\WUWRPUULQTSRPKEMNPWZTG=6FX`_[WVSROX\ZXWPJLKMOPONLNPHINSWUWZWPOPNIHORMRSTOPQVUURONMRLLVZXZYWUQJRZVPMSZSRSOOPRUYYSRUQRVTPOKFGPSOKLLNPOSVUHHSZWVSRTVVXSEAGDGLGHIKAIX]ZSUVRNMLFFNVXZ_WQSVSPLNSSNMSTTYYXRPKTYWWTXYYSOUTPJLHASVYY[ZULOWUOSSORVVQLRVSNOWUJGK>DJKMOTXTQWUPXXUUVOKJDFLRPPIACNMLRVZ\[TNIEJLJJNZXOOXZYXUSKFJUZ^ZROVVKEQXRRQKSZUJFMGLKNQQKJKONMLSVSQX\VHIQTWUQSRPLMSTQVWVT]aUPPLROIAELLLTTY\]Y[ZVPTZ\WMNWXUUQRPYchc][_WQOOSRPSZ]__YXURORUW[YZ^WJJKPWSOOW]^SSSRTTTV[[RLRUSSY\TTOHNRTTUSQQUWMHVUWUT^`UMWP_[_OPX[TMLJMU[ZZ\XRJMGLQPFIORONLMUSILQHMTOFFMWXWQLIMUZVSRNJMOSWTVYYTOQNQYWQLNT\]YJNRPF>?ENUY]aa_ZZZX[`ZTQPKMQOX^YPLHIINMLNOTXTOVVVWZVIBKSVZZYVSQJCFQVWRVVPSZPNPSQQTTPRTQOSUUXXPTWUQQJCCHQTKDHSPJPVQMNSRIGKLOLGCIIPQNT^^XVYTMGKQRMOPOKJNNQNINPJFNTWOKLLRUXUNJISWUIIKPSMMPSRXUQPQOKNSQOSXXTPPNNNNOMJBDMKLUVUWWWWROSNGMRTSURU\\UPOKQQMOMRGER\XTKHICBOUWMDLW]_VL=MI:XZSOWPQUWWJPQLYZ[TQT^^_^`^WZ^a`XUTNSTSQSZ]ZNZW_\WVZ^]\XYYUTTZYY^`^WVVRYUVZ]\VXXXTVUUVVURVQPSZ[YVZZXXXZRY__WQMNTZWNMSXTRQYYWUYYWWVURMPSTPV]]\WWYYXVXYVYVY[YXUUROOOOYNTYVTWXWYURZLSVXUUUNTUPNXUY[]YVTOTSUVWWSTTUSPUWVPOLXMVVXYYUTYWZZYMPTW[][YZ[ZYYUW]]Z\YZQMXTUYOTMRTVT]beaVXZTVWXYVSRXXXXZOP[_`^VPRSWVPMKGOVUMNQROHGW[RLOPTVZ]XVZWTOQTSQQRZ\\WUVVUY^\RBIPRQSTRY[TQRPV[]VHCR\VPPJORRPNQUOHLQSSPGJOTTURPRRW\^a\QJKOT[]]WUYYWVUPTRLSTTRPMMTTPSYTNLHFWekh`YXXVOVVZYUTWTRQRNPPTRJQZZXUZ^]WVSSKIMOSRRS\[YUSPLQQENLFJQPSUOPQTW[URSQKNONLKLJOWXVRVWVTOJLOKNRVUGFEGIMKOPOLQTYYZ\ZVQTSIMMCEKPNGBFQX]\USPHFNOKGOW^^^YSNPRTPNQTTTZZRUVUTNELY\YURWVQNTZYTNMKLQTTUWUHISWKNTOOW\[VVXVOJOSRROMIIJOQRQPNTSOVWTXSLLNKRTNMROIOSSQT\]ZVZTNORPOPRSPMPZZTPQQF@LU\a`XRUWVSVXWPMIOTWXRPQHFFUXYUQNMLOVURPW[ZPNRPNNQTQOQKILIPNLKSWRSPRPOMJGEHPW]]WSPTWURPVTUQPSTSOJFM[ba^Y^]PEMWVQQZ\YXPMLRSRRRQRSW]]RQRLKONJGIFEDFORVUVYTLJPPLJLPNSSJDGGMQRNEO_bbcb[PQYYVHGKZ^I?IV[ZMJSWZWYd`TLOMPQUPNWURRSXV]\ODOTSPPMPU[\XNKJJLKJLMKIJLJOPUWZVSUWYYWXVUSTWRIMUWQLGEMQU[_efcda_df^[RSV\ULPV\\YRMRNMQQW`dd]USRUYYRDHVZYVWVWPSPNQTSRVUPRVSPYQNRRLPPKKPXXUUUTV\URUTQJJMLB>HPNNYZVNKNOQLFHGGDJPQLRPT\]ZWPPIIHPSUSUONNRSRLAGRTOQSTPKQQTSQMLVQHDHJLMPVTRTVKPVRJMTYVWVVYXRQTTQKHPWYTMKRSKPORSWZWUPUUQMQUROKKVWOOMRQOHLPYZXWKLPUNMI6DUL&5OZ]YL76;(/FR`NOXTLLVQWXVRV\^`TMZ^X__Z_gga[X[YMKNOX[[_^WYVY\ZZXWUZXZWXUUWX[^`^YWUTMUXXY[ZTUZVWXSQWYXYLNSUVXXYZWQZYSMWUZVVWVUVZPLSRUWYVWRQTWXXMNSSVWUZZYVXTW[`VPMQUWZ_ZVTZYUVRQORTVXVZ]WSXZPOPPPTVUVVRTSVXY\]ZXVXXWSNOWWZYVYTZUYWYYXVVYWYYYRTZVWXXXXXVVWUZYYYYQNTZVXUZTLNOPOYWORUV[bcd\ZX]YUVYZYVZXWVST[W`a[Z[WMPTVUPONRTQKJMMMJHRZWKMHHNY\OOX]TOLNSVPR\_ZUKNNVZeeXHMUURRNPVSSZ\WQVVXTVZ\[TPHDPSOMTXWQWXUSQQIGFGRUTUTRRQUPQVZVY`gjd]\[TUVMRWVSUSPKLTWPIQVYXYXY]cfbYTVYZUQQSUPQWWZ\]YTMQURRPLHS^\XYUOFJJKORVMKW\Z][SLPQQMJFEPVQOORPLMGKPYSIBKPPMKLQTY[_aa]YYWPROOPRWXHDINSRRVKIPQOTWVVPJPTPMQJ@KSWQMR]`^WPOQNKMLGKMRUXUYWMLSSRPUTPOR[TPOPMKOQXXTPMLOOUXWYXXV]YQMLNRUQOTQJHOPOQRTTSSQMOPRXYWTRTQORUPKHPMNPSNLQOFKSXYXQKPQMRUSHHSURQYWRIHOTTRPLEPY]RMMPRSUXYY[WWUTZZXUNUTTUSOTPUQLHHIJLSVPPTVVSQOPQSQRPMKPPSLKOMJMIBHGJVYZYVPJFIJHACIQVWPNOQTSTRMOOOKLNTPLMOZ`[XV[XPGOWTNQXVUTRKDLQMHE@IVYROOSWXRRXXSMLGHGNRPNPQOPPOTSKBFSTQOMKJGPUXWV\afe`YPGKVSI=DMP?BKKRVSYZWQUYWSQLKNRPRZ`]RMHLPRTQLJLQTVRSYZZREGNMIDADJMIGHILMKOUVPMSYXTQUUPNRRSTVUQKEEQVUQQ`_^ggdffc_ZQTZYQPUYTUUV[ZSPNRV]b^XQSUXWUQLQTPRVXWTONQPPKMSNS[_ZQORMKG?GRUNORUOSZ[[XVW[]\ZRKC?HQOFGT[TTULJTNJT\TYRWb`XUK\^UW]flf`VNWSYLUYVYRPWXWXY\]\WPSXVSZZPOTVXZVVVSNPPTNXOUXVQRUZXVX[\VQNUQZRU\`_YXYYVVQVV[WXVY]]TXWWYUPRTUQOUYTTZ_\Z__^ZVNSUX[ZRWNWUMRYSLUWWZSTOSQQVUW_]VTZZVMQXSUTOTWSVYSTTW^[WLMVRTNLZ[\WTRXX[XWYX[[ZYXWXRWWYWXYYWUXWSVWYVRQSTXXUVMRYXQMQPOMZMVWY[_bcb\][ZOTWTWUUUZWXU]_T__\RWWTLRX^YVRJGAIOLNLPUWYVMJMNJJNNRZZXVSPUYSNMSSWSNOQUab[WV\YYUROQMOTZUQSUTX^a\TOJEFMPQPONRMPXVOMPJJNOOXY[[\YVROQWXWW^hqkaZWTWSRXab[QKMPUVRLQWTKNWcgc^WUSRSZ_b`XTPRUVUY\^_]ZXTTOPNJQSPKRRF@FPTSSVTOMQPPSRNQOMNTSKLUWRQUTKHPRUYVE?GPVYSNTQSY_b_XVXUQNNQUSVXQINNNMTVWNWVPPSRJMMQVPORJHJMMST\^\SQQPXWSQQPPQOLNOOXNMQSMMRWSRQQQHIMNLMTUTUSQSPTTSSP[^^]WOJKSSVVTNHJOLMOQNLMRVRLLUWRRQR[ZPRTRKMVXRPMNLMMKGHKROQNNUVTMMIFKPIDNYWRFFIMOJC>HRVSOJPTSSRSOS[]ULLOLEMW^[TPOQVXTRVTSSRYVOSYZROUTRNOOQQPPTPMMKF=EQQGJJMPVQRRRJ@LNMECGGRNHLX[[USOMKIQY\[VMLQW[dd`_ZTLPWZ[[]][RVURKOQPRVUZ][RHNSVWVR^b^TMPOKKKNW]\SOUYXVQGIOWQMPNRPT^_\ZZX^aTZ[QT]`b^KMPQH4=OWZVZURKSRV]^LCGC?GUSSRMEMSMCRQG:@LNLNILQNKNMFI>BEJPOGIKPPIE@HLLJOTRMLLKJKORNMRQNKNUYWRKLLLUZbfffa]YQPRU]^ULLLP]a[TTQNKSTLLUXWWVSTSRPRWWVVPOLMIGQTMKRXRIJROFHKIUZSKUUNRVVRKKOTUVY[ULGMLLQTX]\Y^[WUROPRMGIOOJR\WMMRY[VNJEHHINTWTSOJKIJKLTXTOMLHLY][TRUNLKHJLKMMOVSSVSNU[`[ROJTSUTUVRPKLKFMNMPSNOURPQWWKGLTYXPNVUTNMDBABKX_]RGH@BOTVPHMZS>Xefa_PWckj]EJIBUSK5,:SVMLTVS_jbNRO^^VQPKVPYYXYX_b\WRURPYVXTUXYYYZ_`XVYXYXXNWTYWZZXYVTPSXXXQMLPTPOVWXZ[[ZXOZTWZZXUWZVVSXXZQNXWUZXZZ]a\VUVYVSZLXUTZZZZY`]`b_YXWYVVV]^WLQSRUZUZSUZW\ZUVRTYQRV]]WOQPPOWXUZWQSSSUUPPNUWYVPOZLNNNTZ_`[YYZZVVUUTWVWXYYYYXXUVVXXXOUUV[ZYRZWPVUXZNOSURQXZYQMPSY]^YWZ_a]YNWZWTPOUVXNW[_\Y[ZTP[[WUX[ZTYSQPLNGFJPSVVSOIPY[[WTWVTW]ROU[[QJKTSOJPQRXURU[^dc[RNJOXZ[WR\]YQVYWPIKSUTPLQTWTMGQQJKJIJPVXSWZZVTRRWVPLLQ[jwwqaSQQRW\dffZRSXYYQV]_]QQVbhg_ZVUTQQU]``^WRVX`^^[]][ZYRQUODIH>DOURMQSLINUWRQROEGJKEBNRSSRNRZWLOLOUWWWYSJHDDRXZVQSSZZWUNSUPORSTXWUURSSRNLQYXTRTTLF@CHJPMHPSSPMLPTX^cc`^VPTUTQPONMJJPNRRQRTVTLNTRTRKSSQSSRMORQTRTWZTOI:?JVTOLKRPTUNPVSMORQKGDDEDKRRMMMPMPNLSYVKINPU[ZQNWVICFGQMQOHOVZY[SLMQPNOOLKONMHFCGOOMPOTWWQQSOMMNKLQWVTNLJHFJVZ\WRSTQTTVTQSWXVUNOTTSPPLHKQRSUTUTKLONNKLRTQNM>IJKPUXVVUOHBEHLTUNPUYWVPRXPGM\`^UGMUVZ^^[SY\YST]a_\Z[WVZSSWY^a^]^]WRNUZWUVY^acWLMPNRNNX^[SLP]a]XUWbb`^TMMNW_^[YQPXXWSUORYX]WLEMJIHF8BLN^c\QRWXVSEHKGELKE=>E>DTVOJRPKHIKNPJNXQNPOLRRNKFHFGHKUROJCJOPJHQQLFMQNQQVQRMPOJNUXSTLJHDDGQ]fnpg\KJMRZ_\TTQSY^ZXWVTUSSSVYXXZWTQTXTQTTS[XQINKLY^XOQQNNOPNLOOORTQNUTIMSQGAAGLBDRYVSPJLNTPOOPRSWTRMLNNLJSWNOTWRKPPQUOLLPPNMPQTTPNIJNKHIKMMNUTDBUYYQILPLRSWYQJHLLKKMKPPQTSURFLJNQTTOQMUYWMEHQTQRSTQSSOFDHGIPLMRVMHJE>FIEMX_UE99?DNPNMTUUR]hia^PPVWQ=..7OZYYUE-RKUXQKJXVVMTXWUSQWOOKVROPV^c_VYZacbVWWZZUPUV`a[UVWWV\YWYYSTTU\YXVVYUWVVWRRNTVNTWWV[ZXXUUYXZSQPVXRQZXOOV[ZZ[ZQWWZXZVSZWSPTUSVXYVWYZ\_YYXWVZVW\][ZSVXVZVWXYWZVVYW[ZVXQWVWXPPPTYYXVVXWYWVURXZVZXTUUUQTXXTVW^aWZWUXXXVRSSUSZ^^_a[UXWYZYWRSXWZYPOQNQQRWZYVWYXUU]ZWVUWVZ^ZVUYWVYMTWYYXTSVWUYWXRX^VNPX][[^`YWZ]\YXMHHMRPMLJA>LUXWWQLRVXZUUU[\TJOTZXUVYYVWRPPXce`VLJVZXUQT\a\SSUSRLKQSRRSRRSRKMPQPORTUTVVRRVVRLNPNQIBKUZ`lwtdKHTXTWV[XWSTQONJQTRVWWV[ekh]QSUUTTTV]a]WPW^c\\^__`\PNQNCGIEHLOOQTSMNSVWWVXVONMLKFSYVXKFBIOMMMKLRTPMHHJEJRVTVPPW]][]ZXUPKHOSRNKLPQPOMHOTVPNXZTI@GMTYSJMRSRNMQWW]gjifYQUTQRORNOSWTQRRIIMRUOMSSRRSY`ZWQOJKLRUXVVQSOKKLSWQJIUWWNJHMWUMJPMJB?=CIECGMRTMHLJIOQSUTTVW]XNIVTKKLHNPPNKLY\\[VLSYXTMNTURINTPMIMNIHLS`aZSTSSROLPRNELX\WOKMEGUWPTZYRWXXRRWVQQXVRQSJIJIQX]^XTUXUWYZSOOUVSOJHDGNW\YZ]YQGMKGJRWXYTSTX\_\THMRYXYOJRPQY[Z[^c[PMV]_YUVRV\YSUW]a\WRVYYSUTLIMOQSY\SNSSTUWZUSSTTV^YXZ]^[YUVPGFRSNORUSSPMLSZXMQLLFHNONX^PLMLPZWIBFL<5CSPMLWYOOQWSLNVYPCBBFENTUTTUQUVZWY\[ULLROHILQRRLLSRLGFJGINQSW^a^[YSMHNWZSSRPVRG>DQ`rwthYPQWab[VXTXSPIKSSX[[Y\[ZQINUQMMPTSUNLLMPIMLNX]VTTUMRVWTJFHGJOQQRTRPOMH?@EPTY[[SONKFMOMKKJQOOSRSRNLCBNUSUYXUQTVVTKLIIFJTWUOOFU\_WUPTJWSVNVRVTYTTTRXYTZY[XZa\ae^WYZZXNZY^\YYZ\YWWV\[XSKPPVWYWXWWZXY^WXWQMTWYYVZWZXWS[ZZWOYSVPYMPLQZVTRYY[YYXWXQRUVZVQRYWVYVXY[]_\WYXTTYV\\]\YX]]^ZXUUZVWVVWZYRLMPVURPRQNTVUQRTSSSRRVTYXYZYYUUWXTONTX]_VVVWW^b^ZNRSPQZZ_a\[^YW``XYVWORXUVWWPPUQTSRSSRZWWXYVYX[b^VYVVVWSVZXWTXWXYTUTSPLXL^ZYWUZWV]\]^_[XTTRSSVURPIBIOVWTTTUW\]\ZTPY\^YSNTYXSNMLPOKNPX[Z[\YZZRRLSZZVWYTQSPJEIRUVRNNMFLQSQRTX\WXWTQSNLKSRCGJKQZ]ZdqwoWNXZZSWXXURNL<9ILKIMTRSTT]_URQ[]\VRPNUYVLJRTSONW]c\TTRQPPKOQQPORQMILRRSRUUMJSRPNRX[]ZVNB>IQRTTPMSTQNOQNPSWY\ZVINY[WZ__YVPKLLKNOMLPIOQILRPRLTXSSSQT\cbXTPNHMQSVT\djd`SMOQSWUSMKSXXSRQOQQQSOOVZXTKQVVTTPLMSVSV\WNLIGLW\YVRNNUVNHKUZVKHPQOMHHOUNMPQPMKTSQWXRJPNXZYZVNLLHDOKLORNLNLOY\]RGMRVULBJSTJMSTQUY\WRJPZ`ZONQRPLOJHLHPZZSNNRNNVYVX\VXYXVUVYXORUXQGJDFPRNNTYUPY`_WPQUTYWTSOH=GUWSKPUVQMKIFEQW[Y[YURSY[VVTSTY\^XILGMSYWY^`[PNSTVRUPNXaaZSVX][VZ][WUPOPPOMJMSVTSVXOHSYSMRXUTRUY[[]UMMRN:C@GNRUVVONMLFGHHIHHQOQTTRMMVUMNIJPNQRPKJRSJMVTSRPOUQKGFJRTRNNS[[YSRJMMIJJGGLLHDBJPQQLEAJY\PIB:FHI;CHNHBBAEKNHJKNMJKJLPSUUUYXUKJIIOUVRSZUJJOTWRKKDPZ^ZRMTTOMV[WJIPWZZXRHCHRYTTTODOVSMKQTXTUZYY\WDBDNNIPPMKUTUMMLBEPPOYYNFGF9C@@IRRRSQJJRSTRXVTRRSWXXSYVMLPTVWK=IYYREHDFU]WPMHHNQEENNILKFLPQNLMRRSSSRQLHLNIRVTSURWULN\]]^YUPUdlg_XNOUTSRRPJIPSUSONNMRNNTTOMUWSPNJUXVY[WONWVTVWTPOTX[VYXLKGFTWTRUYUZYUOOX`_VONMQQPOQSQNRWWVOKNKHOPKORPRSTSPLPOTVQQMNOMINQMTVJ@67@HHOSKD=CJQMCGMQPSVZ[VNJMTVQPPLIMNMKJKNXWQTPUZVMQYLHLMNPPOLRUYYWMKWYSRPPPMQNKIQSUUVMHNUVSF:@PPNGGA<>?>,3>LMY^XHV]WSXT>5MUWZVUPVVYW[[TRUWUVUOURV[WQPMVNSSLTQYYWWSZZPRWTPZXWYTOWYZYVTRZLSXY[XXZVWUWYXXRXYZVXVYRX\\UOUYRQW[cc]XZXWVY]\WUYYUXX[ZZQNZRWZURXXXUXLQSRVWVYZ\ZYVX\VWXZUTYYXWONSVYXXPZXYYTVUPLVWTWW^\YVVVYWZXVRORRTW[XOZTPTVZTTQSZUQQVVSTWYSWX^[XW][WVVZ]YVZXYSTZYVZWZYYYUVRNSZYVY\\YUUUPVYYWYUWSNUUVYWXOPRTUSST\ZWTYYTZ^]XUOGKQSUUNHHOIMQY^_[MILOOLLTTRSVPIKPTMSVVQGNV^]`ejlhaYWQQVWROSXVVWTMPQQQSPTPQJJOKKOLNNW][XYWSQMJMPOORSWSMLIIOUQKLNQSVVSPNNMQOSWRNOQYaa]WQS^\SNOUSVWYW\ZUQPILPPMIPQTTPTRRSSNKQOQVSKNPQSSICIPRSVSOVRTXWSLMLSPLKGLNXUJRTQUWZ`c\[VRGECFPSPOHOOMHTZXTUTTVUSX]`\[TMSWOEC>GNYckjc\UQPS\Y\YZ\`^_\YV[\VQPIAKOQSQSUVSNMNMHKNLNQRTPJLXZSHJLOUXRGFHNMJOWUSVTQQPT[XVY^XXSSSXWVUQKPNJEEMPOSUQONNOMJHGELYYWSOLFLRY^\WTQIAOSSTSUUSJPWUMNJ?HSXTSUMIIMKSZYVSONHHQSPQSVUOTTPTWUPPRMGMTVPP[_\TMJEDKPMOTSPWXROEBHOTSQOPTOHDFHMKNPOLKPTNSXVXUVVW[TQONKMVPFJMX\TMRTRRX]ZRNRSQTXTNJQUVVXXONUYZTPPNFLLNHIJFNRSPMT[ZSK=EMSXTLX[YSMKLLMMKMVYTPHC:>OY[Xb_KMNW[XVZ^\VLILNUSSNDCEKJLKMROORSOLMUVSMMIHNQONILUUTTTMPSRNRTURKJHNJGGDAFKNOPRSPRQKNZXQOPTOESXY[]_YUOU`caYMNTTSRTUROLJONIFCGHLJFKMPWVRMNLQXZ[][WTYYZ[TNIKNQVdcXLWUPVVRKRTPMKFC>MWYVNKMRSTPQVTOTUWVQNSXYYVPOOLNHGQROQSROOLJJQVVONRWY[UL?FKINONROGLWYQJKKOLIS\\TKOURPOSX[VKECBEOWSRNJQTQEKSVNLMOOKMEAGHUVNKSVUPEJOSQGDGLKKRSRRTTYUI9GQYSTLECBSPDQYSIHRL=VWVRNWUB6OTVV]`YRKTXVXWTRRKVP\_X]]\VXUSLRXWYUXWVWVPRW[\XRNLYNXRLWZYQSVZZWRSW^_\XVSRZZUUUVTTTUUYUWVNOV\\VTU\_WSXUZZXV[URLRWXX\[ZVUOUUSORVXZNVTVXXZYZVRUWVYYWRQUURXQZYTONNMOZXXZY]\ZUQVZMPRV[[WWSURWYSOPOPXWOOYVVRMRY__UYXXROURTRQZYXZXV[WUYac_]XUUYXPYYWXUZQSQRUWWURQMNUUWY[[\ZRMMQYZWYWTZZVYWVXYMVQUWWZ\\WPQQPNV[^_`]OKOMQSSMLTTOLQVVXWNJJNTZbd]XUPKJRYZZVMLDHPVX_]bdb[WVMINOPLQUSRLHNOOLPW[ZYYXRNNJMQUSRTVTSMHHKKOUVSIJPNPTOFMSUSVREHV_\TSWTPNOUSOUWTYYUVVQX[ZWUSWY[UY\]\XK@>FKGDINQNMLQUX^][TRLVSLJPSWRNMQRNMWVPTYVSTQLMRUOGLIJPWUKFJW]UIY^YTWUOLMOOROJJSXVOQSSTMNOUULQYZXVUHFPM>;>FGOcmneXTRWWXRSSWU\ZXVOKMVXYRJMRRTT[[UMJGMMOMQUQOQV[VLGILNPQQTYSQJFNQOQTSQMQTWX]_`YPTUSRVNLLPRTNFFFLDCMTQSRPJHHJKKROIHMNLPPOIFKOSSSRUSOOPPQMJOSQRTVVRRNOPOUWXTLOJMNRTOIIFCJMLIJPQPR[[WQVSLDCJMQTTVSTWYTMPNIHJIFQVTXZ[ULCDKOLNKW[\SJFENRORTWVVUUZ\[VWXY_``[VNKLPOOLOVUQLQSLGNYXSOQPTVYWTRPNISZVQNNWVTVSJFGNNLPOLMRRMKLVXUQLNQSWTPTVNRTRVQPVZSD?EFHEBGRSOR]aXRLPSXXV_YMHMQVNKRRKCOMROBAQOLOOQOMQWXSSNFMVVWSOOMOSY[USRWY[WRNLHAECGGKMOGOVYTONJJOQQONQSRNTVXUWVTOOS[egcXNLNPNPSWSPOGECLPPRTMHHNTXQEDGIAISTUORSUUVXVTSSQQVabYSVWXZ[VNMJFBEEEINMMTPMVXTLLMUNEOVRJ>JV\^TNMKHEKL@HNQPTQLLQSTQUWPLWXW\\UONPQROJUXTOWXXRMHHHAFMSRORUSOPPONPMJQOECLPONTWZJEMRVSQLMHBJKGEJLRONOQTPKHMVPB?DCFHEBHMTSRRFANZXRTSJIYZKE[YVU[]M68*@UHERLHYRQU_VWUM[ZSUMOQLQT`hb_]UYZWUVYXNV]daVW]WWZXZUOOVUPLYTYZYVWRSVYZVVVYVXXPTTZXYYVSZQYVZZYTORZZXVUY]`YVXWUUWSVWRSMWXXXZYUOX[ZXTX_ZURSZZVVVUXYYUYVVYPOXVYXQOWVVTTWMYUWUSXY[ZZSYTYZOVVURTVTVYVYZSRTZWURSWYXXNYbc\YWYYSXXXURZZXYXYVWVX\\Z\WLNRWZYYZTYWXVSZYVTPRTOPSWUWV`eXONRMLTYZWWRWZ[USW\UUUKRWX_b_\XSOORPSUYYWNILHKOVWQLQROVWY\][UNIISY]\YORRMKNSTNMLHHRUYWV[\[YZUMQQWYWUQPMQT]YNINTVSUZ^[XQPSXYRQNQTRMIIKOIJMSRLPTUXO>FRT\[XKET[[TSXYOKSWSOTTQV[VUUOKLQQOMTWSNSXUYYTH=DNNKGNQSNMRUZ\^\\QRUSMOONPNKNRSONXXQVZRNLIHGLPE?HLRUVNLSNJSXWXZVIAILRTUSRWVUJ::>INMGBNWXRRTSNIHCENLJNRQWYZVRV\[ZSPQWWV\_[QJVWVONUZ[\[NNPUTUVPGIJOUQKKSWUTRKAJRXUSQQNPTUPMJRYX\bb`^ZSPOPTKJOJILIDKIOY\URSUWSFJQTKDPTXSJHJHHGRTOKPOI>CEJLUZWNNTUXZUUUTKLOQTMHNVVQMMTPKILNUPOHNOSRPRRKCGRPPWRKJQROSWXQIFIKOPNNQPQQSIFKMOSPJFKMOMNUR>EFICFB87JVWWTYQNVVMKHEOZZOKSVNKUTN;F9IZUNYH)BC;WXKPKN_b[NQLTW]XXOWX]UTXZ][XQSTT_c`RVZVWZZRVUV\`ZRNXVPQXWWQPX]XSQOLVXYSOKUYWZSWUVYUUTXXY\ZZWZ[bb\TZXUSTUXYURXYYYUYYZWX[WTVVZYVWQROSNOOVXYVUZYTTUZZ_`YYWWUMPTRMPWPMQNQTNQQSUWXSUYXYUZRRTXXVTVZUUYVXZWXPSW]YWW[ZSV[^VYWTPRQVZXXYXVXZXYNWVVYXUSRYVXTSTTRRTVVUTTRTWhleYYYUTVZZYUSWXUPNTWYVTWMTUW\`_`VOQSWRMLSQRJIFEGPSSRORWXXQOQY\\UQTXYXUNPLIKMOSWY\QLPROSUTWTU[XZ[WXZ[[VURMU][PIHNOMRQOVXVSTRLMOVTRTTMKSVPLPNOQRX^[UNNJR[`^WIAGJOPWWOINQMMOJNSWTOQIGMVUVZYUECOQKHPQICFHGMLHQLNMNSWZ\ZUUV]^WRROTWUPTXUTSVSRVUQJGFMJDGNLHJOQSZ[OPORSOLRQTTRSUPLOSMRSSLOPPUZRMMQUOLPWTOSQKCDNRNMRTNNQWXUJFLQRW][[ZSNLJGORPRTVX[bfa][TORRSVYSRSVUYZZUSXXVRNLJMQOKJMOSTMEPVSPSUFIMPUUSLA>BLRPLFBHPPJIMONUWQMLQXX[YQOPOEDJJIMOUUSONGHIJGGLLRVWRNQSNLOPZ]___\XY[YRMLMNMSWWWRMJJOVYVMIOSPINTQMJKQSORY]XRRQPPPVVMRQEKTUQPRQPPJCGKPRRQFJMQSNONMMKOVZ^[RNMMMNSV]c^VTTUXYTRVTPSWSSUSU[]\XUQNJMRWUTVWRGKQNNMQQPNKHKNOMHCHQPSPLGI@FKLDGORVURUTMPVUWZRDHLNRURRPHJVbM>F_``MJSONIEMRSURJFZ_`ZZXMNPH@COPNTUGARUQFEKLQSOOMKMRSQUQPLIJMKGIRVT]__ZY^[XQPSUWVVXZW[a]PLRWWNVYXXXTONMOJKMNUXURQPPLNQLKRUNONNJEJNLKHLRSMRYXZXVRRSXYWVRNPRRSTOTVSSPKLHLMQUTVVZWKDKSRHGKMGIUVNE=>FINVVPKKMHFDEMRPHLLKOVMHNPLKPOG?DKPSTSRVUUOTSOOVWRNOJJTVNHAMNQMMMQOMNPOTQPKLMLNJEEJKLIGFHPNFFKHEEKMFOTTV[YM==EED4O^a[TYVVVM?D7DKOLYY]_dg\PLFNNRR\[QDMRSILC+IWY^db`c[WUXWNNPQOXXRTV[VGJQTUVSTMJIHPTTOMLFLONFEOTQIAHNOLMSVWNFLOSVX`ec^VMSTPLONTXUTSTWVQKPNKPQNOOR]`YZcdab`[UZ`ZOLJLQSORONQPPUWTNGMPTYXRMDGQPUTUVORZZSKNVXQTURRUTMFKLD@FKTXTOLJSXVONLLMSQOKKQSOQQQPMOMCGQRLPMLIHFFRWVVTTTPIHLJHILEKJKORTSNMPKLSTMMFIMSTQOORV][RFMU[YTRTWYUPPOPPJNOPORSRSOKKKLIJLNKIE>9?EKKNKOPQ[\QA9FNURCKSJGJ^eK&ETLLWUVeb[TY_VWXd_cZLYXYUPQVXWXWQOUYUTSZYUOUZaf_TTPNSXUXWUKRZYYXVYd`^UXSZ[VXYVWVVX[WVVVTY[\]]XTVZ[\`_YYRUYZXURONVYUPWWXUY]\\XXSQRWZWRNSWSYMTWUMVXVPWYYWRQXZYUMMTSRVWWRVXYWXVYUWNSVYVTSXVWVVZXZVPSWW[YYXTVSVXZ[ZUYYVUVVV[VSUV^a_YWXSY]dZVXXXVYZXYVYSPQUVVMXOPSQV]gkmc`XUXXSNUVZW[ZZYTX]]\X\\WRJOOUTOS[`\POWa[VUOIZ^`WWY]`\ZVQUSSUXTSHDENUTPMNHCHKHPUTU[YTWZWPSZ_^^[Z[_^[XVWUOLHDIQV_`]VOSZK5-CJPNXVQWWb_W[\[RHMSQPSW[^VMNRPIPVSOIKPVPKOSMB?JPOMILIKHKLOSPJLMKJTTOQPQWYVRPMJR\ZU[^[ZZ^a^[TGGNPUXSTUWYZVQPUWXX[]]YUTU[WQKKMSMHMIEHJHNRSRX^WLLMK@BMRKLSWRPRQJDCMRSXYTTPILWZXUUPSVYUMTYQKWZUNRTSUULIQUVWPNPMKMIGOOMLKLHJOQWYXTXZWQQOTWVQONJMMELEJOMNSKMPOQLDKNORSKCFIKTSMHFOURQNLA>JMLIJKKFAIMJIINQJB=@AHMGIKPQQSSQKNTUWQMRSROJPRRNRRIHMW`^WHALK9ERVZpwlQF?;8dpWKVTSINLepka_^]TXLXUXUV[UTYXX[\\XUVXPUSZWVZZTRLZPRSVXXYXYSSYUWXVV[YWXZU\`YUTRTWXXWW[Y[USPYMTRWV]ZSZYWVVVUWXXUUXYPPTUZXXW\VWTWXXVUORUTUSSYZSOSXUXZXX[VTUY[WQLTVPQROQUXWSUYYWVYYZWZWVX]^][ZXXUVVYWWVXYZ]YXUUZYXYUW\^XV[]\WVVWYTYWVY[XRUWZZTTTU\[XXVVRRSZZXVYVW\bfda^_]VVUVVXZ\^XRURXXVVTURORUUOMOSSVZ]RSUPLSW^`[RQOTXSMKPQTVRLRVYYUOFCEKP[\XQQQMPRRPRSYW^YSMMNMIT[[XWXTWYYX]de^VRSYYXQMNKIWXVVPS^`^YYVVMIOPMPVRKRYYWKNICGMPQOOPLQQPHCBHSYXPU[YTIJZ_UNOURRQOOVXTSPQHDHNHKTYYRRSOQUWVXXNJTTNPQWSKCMQONPMOLMNNMQUVUWX[PLRVXTMJMQLHKLPTTKDFIMKLNORSRSMJQWWUWRF@GJEAMNPLOUXXUPNX]``^db\YTNJKVZZSPKRZ[OCHOOPNOTMDMPSW_caUOOTXQJLVXRSWXVUTUSMNMTVSRRONX[XUQRUURTPOOLMMRQQOKNY]XQKOPNPTQ[TTWSNLLWVVY[[Z[[a_WUXSUTTTQNOQTSNF>BLPRTUSSRPRUSLIRTQMGIOQSSSOKOXTQUTTRQPKMNUSQSZ\XOUVRPSXYW]_XIMX[WWYVSNQSVY\VOGINHHNTWTORRWQHNRMMVWTNJEBQZUQPKLPSQQAHX^_]U\`ZOLPTRSOPXVONSYVKLSVVOPRLILONFJMOSTQRWYPINTURLRQNMNPIGDKOLLKOPWUNLNPMOLLLLQWTDCJJEKNGMXREHKI=GLU[V[I9W[UPGHOTTPPSRMJSQNSQNJ@DPUQOORPNPWXRPMNPMIOMEOSHEQJLVWOUYYSQT[XTNRY]QNLOT[`][ZPGHHGUZ^YZZVSSQNRQUWZZ\ZYSORRPQSS\YPOOINQQJPMILXXWVPJDISWTMECHMXYRNNSRQWXYUMFDQRRQRUTUQMOYZQS[^TPMILQXUWYXSTRKJOPSKIQPKLPUVSOJDMMJMQRSRQQRQEMLLMJG@>EPKQRPLFNUVTSQVRKGKMLGLLNKHCJPPRRRPHHIQPLNKFLFDHHLPMKKD>GPOQQKIMMSRUWUKNNQQNOQORRNFHJIHNW[^WNJTSDCFCPfpj`SGCK&Xe_UTTUNOKSfj`YUZYUT\^XNUae`YUWZ[Y\^]]XRQYTQUPQTVVUSVW_d`_VTWZ\]XQQWUTTTWY[YUYYSUW[ZVVZVZTYNUVQQYZZUTWURWVQRUXXXVWTRWYXZTUYXVUZSSVQQXVVWYSTUYZTVWYYUSZXLSYV[VMUVYTWVZ\XWX^aWYW\ZRVZWW[]]XYX]^Z\[]]VZUVXWZSRUZZZWSSW[\WVXZYXWVYUUVUUVYQNWVVWSRUUMQYZYVSTUWYYWZ\af`[WV\\YVYWMVSWXZQOZYOTWVUSTX\YWQPOONSWVQM@BJVZZYTSRUUUQIHOSWVWWY\^_WMNTPNTXVRSTSTXW[]b`^\[WVXWUUVUOLRW]\YSLQY[VVU\`]UIGQOKIJNPRT]ba`_`b`[TOJQXWRTSTPKGGDJPOQQOPQQPMRONHO[_XUTVXQNW\RDLQWYXTSXZXQJEGHTWTUVTKLSTIKY\UVUQKQTYZTPSPPRMINOKJQSQNOQLPPRRWYSPLV\XTLHIJKLLNMQQJGHIONFEMPSQQPOQPSYVMIHEA=CJNLRWZWQKHNY\`ced_ZVSFLUWQJHNP\\TEDKMPQSRRNFGJPY^]WPLMTQJIKQX[]UNNTVXUORTSTQRSQY]XNKNLPSRQOMLFFHQSSSMIMPRTRMHMOJKGMRRSURTUKNT[aa\YUQ[]YVXZUMLRTUYYVTQGHELTOPRRRTPOTWTOPNLKJJNPYRPJKQVYWXSSOLJGJLT[YRPWXUPVTSSXWUNRX[[ZWQMRQUWXYZUPPURPNKRQSSUUTNMPQPQONKILHERRLHDGEJSSPHJV_XJSVTKKPTTPOVZ\XSSPHFKPNJIJNKKPQMJONEIH@APVUQHHNRRPNPOONGDHQSPMQRTUSL?GILPMKKEKXYOHKOSSTVRL^M979IOLX]TH6>KVF>AD:JNKPSRSNSV^^ZTOLQRZ__WLBJUWQMSTQHOUVT[[VHMLJPSNTZZVQY[YONLOTNHGNWcbYTRWUXYZ_ee\RSUXWSQTTUXW\XUYTJGGGWZ[_`YWLFIVZWOQSU[VPQUMA?NY[WGA=QKKDNA-YkbOUMPTVOTNTQTSPTb^UPPVRXLWM]_[Z[XXQYKQ[^Y\^YZXXXWUX[WY\]VWVVWXWZWYYWXX[VVXRLVVWZVVSUVYWZWVTVYXXX[[XYXXUXWTX__[YMLXY[]YVWXWVQSVXWVVVRRRZZZZYVZYXWWTXXXXVQZMSTQRUXXTTUVZ\WUQQNLMSVXVOQXYVTPZSVVUVYVY[^]]XZXUTTX\YYTZZZYYWVUZ[USTQWXVRNOTUQVWXUWZVTQTVWZXVPSZZVZ[[bkojeZYVRSPNSTUVSRYTLNVVXUS]^WRJMVWPNOQNHHJDEJU\[WTPMTUPPJLWVVSLHLWa`YRT\_^YTLNNQSTUURR]__\^[QS[[WRX\\W\_[[\YTWZZ\`][XWVSSVX^^acda^QKUZd[GENPPQJIJTVTMFHHEJRQKJMOTPMMUTQOSajidYHJOQOLLLNPQRQLOTWULONVWSHLT]]WPMJIFIUVPMMUQPVXYVPNJPRLJTab[MMMJVZXVSNNSSXad`^VKIPQSUSPPRUOMTYXUTTPNMUWUUWTSZ\VGMQPPQTOPOLLHDOV[^^^^cca^a^ULNVYXPLINSPPSVRJIHDPURVZUPMIJNTRORVSRXXYOHSYYXWXWQKKQSSRRYYXVXXXWXWKLWVQUSUQRMNQKEIV[UNJJKVWYXRSNLKOMOVUY`_ZTRPRXWVYWRKRXSRODMRONLUUKILSUXVOHOOLMQQSSWZ`]XUXQNSTLEGKOPKIPVSQPQOQOJMJBFPSROTUULEJVULKILQRRRVUSTVPMSY[]VNMMTUZZUFBMPPSSRRQRSQUPMLQNKOWVSRTTSOQNTZ]``XX^\TW[\YWSONUTQPJOPQPGHTYYYVHMUUPTXWSKFPUYTOZ]XQUWVMDEHKXWPPT[[SNTS[TPSPRUMJOM@@ELRa^[Y\UQYSOIBBNWXUW\YUNNJEMPIHKSQMRIA8:FPSNOVUPLONOMOMICADHOXZVQMRXTKHLKQLLO[d^WMPS^]`db_XVRQUVZTIEMUSQNHMUTQSVWTMPRQMPWVRRSWYUVWTPKIJDAEKQRNMLFDOQGEOQPLNUSKHMV[YWWTMNMJLJKRQPKOQONKHKLNPPQJFKONMQQPQLBHPNRRPPQNPPRPJOVQMNQLJORMEEOIDFHGLH=BUZRCCHJNVRRLNRWUQIKNXTOJPU[ZXTPLQQLDJNKLJOVSMMOMINQONKDKYXSQJINSLKTTOQXSOFEKQVMFP[_hgc`UMHDVa]JQYVEBIV\UQTMGISWQQOKGINMBGLDARUHGB7:?JG_d_7\XTPSSLKKQMKPPNPPWQPUWX][QSUWTSTNWUPTRUXQLWVYVYXYVZUQVZZVULMQRPUZUOQPRRLKW_aZWRXVZYWW]^[WTVVYZXQWRXXYXZ`[Y[YZZZTTQZYYYXZZZZ[]_]WXTQQY[WPVWVZZXVURXYWUXYXY]\VXW^\YV]VTPUY[[ZXVYZVXW[XVZUQMTXW[ZVTVYWQTVXXYYZVVPYXWTPUWV`a\YXZXZ[XZZ]WSTVXZVXVXYXZWSRQW[_`__ab`[YYYSYNUXXVVTVWWXZYYZWUTXZYY[]WMNSUPOTWSNMNIMTPQTSPQLOPOQXZYWRTZ\^[YNMOQRTTWRPUY]VUWUPPJKMLPNJKLLPOJLTVSQTZVRPQU[\_^UQRPPQSW[XTPMQTTSMNMGJNNLHKRTVTLGEUWUSRPUYRQQRJCLPU^b]SNLIX]RGUWUWZ[[UNPQOPQLJQTVWOMPSWURMJRRQONNLNVV_cb`[YSQVTLNMHNMLMMNMS[`^VMNPQSOONORZ]\TNORPQVWQMRTNKOROPOOPRWYUTOLUSRSUUQLJJR\^_`__[RQTUYZXWPRXOECALLPRSNDKNPQNKEPPSTTTQSUTLLQMGKCCLTOTTOORLEMSVIKKNIFNTVQQRPKLLJKQSUSTSJETVVPLLMHLPHOVVZY[^^YURJKMSVUXZWRZYPOVXRNPT[`_[ZURPHPRRLLQPJMRUTSNMSTWZ^]TKDFNXZWNOMIQORVQTZ_ZPPVTSXZWTOKQPLLNQSNPOMPRVXYUTPQY\[VQSRRUVXYXQEGHMKMT[WQNSPKKIFJPOOUUSTQOG@KSL?>FFKRIHFD>EIMSKQLMNSVVZ[UOQSVUROSRIFHMJEPY\XNKHGINOFNQVYSPTYSMLNMUUPLHHNS[[_bii_NN^jifa\ZWQKJLGJSUPQSPRSGKY_\VTX__YQY[UVVULPUSSOPHMKMVV\^XONMMSTRPQIILKHMMOW[PQYYRJNS[`_ZYTRSPLMOMPNKLGKUUMS^ZPLQSSMOQRKFMSTLKUXNQYYUQSUTVRKIMIKGEFPKJIB>DNYVILPPVZSEJQIDEHJKKMOMJEGNRVYVSNJLMLJMSXWME?DKMPQONIJNOIKKILPYWUQROTSUYTJU]XNFMWVSVPJAKNLINWQPX]SV[Y[UQPXTVZT]YQ]eS4SWKOV_b_W_XUJTUVNXZ\\[VTSWRWQROMPRWXRTZRSTWV[UKQWZXXXUWWTRSXWXTVSSUXWZWPYYZWVXUVZWVZ]`ZYTQQTUQQRWZURMTWV]_]VUXYXUXVWXYXZYVYXV[\XTYVYVUOP[^[WVYVWW[ZTSZZTUYYVWZXXV[[ZYYTWWWUZX[YWURPVUUZVZWYXZPTURQSWZVX\YVNPQUWYVQNNUZ]ZWOW[X[ZZXVWWTSQUYZYQZYXZYWSTY]b`cbceb]XYTYPQPNUROXXVUYWYXXUZ]_^__`\SNOSQPTZWOMKNPKORVRSNI@NXZUKOUQQRXXVYWQRPT[[YZ\YWVUQRQTRMROLRN?CEB>@M[ZYVVXPOJNOMKRZ\SJNUZ\\ZPNNILNGMPMKLHJJIEDKU\_]SINTYUNLKRTXTURMNVSOX[TUUSQQRJINOQSRSTMAAQTUTTPKLSQPFOTRMFJONMONKHHNPOY_`]UROMQQPWSQPSNOIHUVXWWTRQPSSUQRNILTWXTRNQQUUNPVWVSUSUWVSRRTYYVJELMELNJFGIQUVULW``^QJMPQXXUPKQSOJGMTVXWVKHKKOWVQMMNTTQPOSRMGKRW][SU[UNUTSROFKTWTPJKPMJQTVQNNLRSMPPJ?LQSOPVZWRMLQYYSNPVT\\TRSSRRQIDIJMRTQSPLP[^YTVYUUSYUNQQOTVWTSTX[VACLPRTSTX^ZRGFDIHHHMJKMLMLJSVOSZ]YUPPMECHQTOQTYa`YWSPQPV[ZUUMKOSNNTVRNOVZ_`WPPSRTUYUQPRSOGMOVUQLRTRPQ__[QLUZ`aWPNLRPTYVQWY[Z[]XOTUTSNKILLPQOSRROMQPMPXXTSW\][XSXXLHNWYUSNLJJNNQU\ZRRSNOOON?@LTWVVUULHU]VO6=OURJ>@RXQHNO@DLKKIKLLQTSWRONLIE8UWRTZ]PILHG<1=GFN^dcbUMP[^ZVOIJRUPFEOMOUWOKTYUUZ[ZRUW[Z]_[SJP\__^ZYRPKMXbjgaTJHMU\`ba_\WTNIJOSTWXWVTTVSPRUTWZZYXUMQQMGIHGT\\WYSKLIFOY^\YVONMLLIJFPVPIFILEBIJKLNPSYYTKEGR\XMRW^`]XUSKMOROHEFIOOKSPPUUOLKHLLSSNDBHOUURV[^TMMOMIMOKJTWVLDHSOCGSVRVXVGISSNLMKJLNNLKPWTUTWXUNJIGLOIJOQOJLRQNIJRSUYWNIBFMSQSOLLNPOOKKOSPIHKQOICHPUX[STO@@PVPFAJY[SKGIMWZZKJGNNPMRQ',Q\TVRK\\XWOK^[SMWKVUSURPRUZceb]VPYPXOXWXSPOSWSPUVLOXcda]VVVZWTQVYVRP]\ZXVVWTZRYYZYYSZWYXXYUPUYWWUTZZ\YQQUVTMQXZYZYUWYYVVTWYXXWVXYUQW\_ZXSYSYQYZYVPUZZVYXUUWVVWVVNPNWVZZVZTUWUWWWXVVVVWSSSUWXYYWWZYWVVZWTPXYW^_YYRWYXZZUVTWW[XPRWQUUWYYXUV_^YVOQQOOOOTZW_`_YWYZXSWZPWVX\[WYVYVUYVZUYXXY]WPQPHPUVRMRWWWROMSTVWWYQNLBFQWVTSVYTTSOJV_`\]b]TURT[\SMNHENQJQYTKRWWTZ[ZWXRTWUJQ\^YWVWVY_^[XYRS]WKTZYURPNPVSTRLJP^XTW_^WRX^\\WQLPLCNVVOHRWY[[XY[W\^[YSQMIEMX]]WUQOSXYVTWYQRQTWVURSRV[X\XRU[[SLMHLTSJJNVX]\UQQOV[YTVUOWYXPJMKKLONQSWURPSSQLJKHNTXUQNPQYYUNWTORRKEHQONRTONPZ^Z[__dfha[POTXROPLMTVVWSPQUWYUQVVWYXNFKRX[VUSMOQOPRWZTTVSKFKORTWURSWVSTKEEKRXYTPPTTNSWSVWXSKJNNPTOHKMI@COWYQQOOYONSOMKIMLHKLPSSMJHMNMLLMSUQNKOWY]]][VWWSMQV\\ZVPJPVOGIMMPSROMLHLWZYUUMGLUTPVZ[YWPLRRGJPHIWXRWUQUVURNNUWPNRWSRUQTYYUROKGJLMNZ]WQMPPLU]^^\UMGIVUEENTWYZ\`_]\\UHS]_[XWU[aZOQVWSQPSQQXWSQU\RY^]TNQZYWLKKKMMTXZXRQZ__[W]a_[\VPV[[YUQJKMLJLOLJOQQRRLFJPUKJ?8IHLa\EEPQSQ>8LJJQXZZTIOTTRRRME?HG9AILPOECEDFBDS\[UTVRQV^[OFGU[WQJFHJMPMU_\YNDA?FORZ`dhf`YQPTRTXTTSVQKHNSTPTVVPQSKHLFKQQLNWTVVRNMLHLPVTRKFMOQRJFEMRQOKKGAKSRPRYOHSVRNLIKQGDMRX`b^XQNJLVXSNHEKHKNVW[VMKMONSJPNKGILJLORY[ZQQIGGQXVRSVRVJKLLDAR[XRYTJKPMJORMJMMMMKMQORSSTSMIMPPMKBGLHGLOHKPMOOOUYPHFEMNPOSORVXTLNQPRNNRRXWQOKPLNRPNCEJTUMH;1BOPR>FBFQXWIMW[Z[UOUD-IKQSOX[NOSVNTNWYWUSXSPUPYS\_`^ZYQOVQUSVY\WXWXVXYLWSY_bb[QVSWVTVZZVQYXZVUSYWXSWWYZVTWZXSWZXVQPSSQXUXXWXUYXROVYZYWZYZZVWWPYVYYYSVYYXXWYZOXZXLUXXXZVUXUTUUYZURNWOWUYOOVXZW[ZVY^ZYVRSTVYXVTYTQYZXRYWUWZXWY\]^WWWVYPZTVYVVXOPWVXVXWWXWRX_]VUUUXZYUUSWW[ZVUYWYYV[`aVSWWXOUQVYVWPWSOPPRUYZWYODBMEIR\[WTT[XUPPLKORVWVWXUOLRSLLPWXRNQLLTVURX`^WVRPOSKKLPSSLOTYTMRUXZVYUQQMS[WHFRSNTX\`[XSLOUQNSKCLQPMKOPRXXXVVRR\\Y^]XRKFLSYWSSUSOMPTSPTZ[]\YWRX[ZZTROKIMPY\[\YTMNLPXTU\[XXXUQSUUOKJPWWUWZXOGFIHIPMIOVXXXQPPPV\`]XUQLKPRQSNRXTNNTYYQKINPOLOTWWWYYNEIOXTU[XLHOQQTUTVZYUNRXZXY]a]XYa`[STWRNTRNNY_]VJPSXYURTWXZQFENVXXSLPKJMHKQ[ZUQRWWROWWURSJECGQUPQSKLQSSROTUQZ\YVROLHHLOQPKIHKIGCJMSSUWXROHIOPMMUUNJJPXUNCFIPSXWQMONTMNNX`a`__\_YRJURVTO@;MYROOQRSSQTUPMLQTX[_\NPZYOMX\WVSOONPTSKLVRNT[VPQRSOJKSYWXVSQOJKLOVXWUILSRW__YUSVSSOXYY^``XILPIERYZWSZ]]^^[[VFRY\WQQZ^YOV[ZTTUXTVZ]WUVWT\]XTRNUWXUPMPUX\[ULLPUYXRST]XX[ZZ]ZPPRQVZ^^\MEKMLHLC<>HQOTSO?:SMGCCOUL::7GRVSLJLLMIMRNMIQSIDCADELMJA=GKNUXRGCB>GTWWIHEIRSMPTVTVVSKDILMQXYVPA;EHJOSYYRKEOUSLQYYWMIPY_`ZQKMGFIHHKKDFRWQRTTTOLOTSUNSWYZV@=CHIFFDCHECFLNMIOQPOQQMJGOXY[ZUEAEJPSQKHKOV[ZVXXVQJEBISVWZXTRLQXZVVXONQVRWXXZRDENPHHKQVULIKI@=JUXRMGDEILRQMKJKMRXVRPNJHIDEDSUPHRRRQQPLFCNWXY[]VTUTRRUXOKJNHFIMLIJGNRSVXUSK@ESNPUPJX[\SCDSSJS\bWOFQRTYWOLIFMMLKRXWTPMQPSTUQPPTOV^[MEHJEFNX\][XRKSSMGHGHS]YPNNQX[[ZVVSSRWYTFJIEGHMSYaaYSNJLQRSXSSTVTTZVZ_]WSRTVWUTTUURQMFFRPOVYYURNOTTRLLKKLQMLJHJPLPLMRSUTVXSVTTUWQW\UUSTXTKPTUVTWPUZXPPNGGOTSLISZYRQVRKITZXVX\XSQTUVTVVVSLNSTQROTZ\Y\cgaXPVPJPLFEP]^XOJJNSSOPSSPMD=FRXVPHORUVTNUWTKCHSXYUXTLLQQOEEPTMKLKILNORV[XST^^YNENQVRKNKKMQTXUWSWVUQUY\VQLOM?=ILIKLOSTPI=AITZ[[XPOPRLFJX\WTWXWYUJOWURLFHSWOPVTQSTWZZUMOQSTUXWLMVXTMPQNOPQLMPVVSRMIFHMOTUTSRNKNUYQORPPLMT[\]ZZKJTTPOOQTONOGGOPMSY\YOINH?MW[YSPV\\SQZVROUQQOPKIHLNXWSQPQPORNIJLQPSURTSRRRQRLJKSRSUTPRRSPIHINOKHSZ[]QGLPVVPSXVOIKOLIGJDGGJJD?@FCJVOFDMLE89>GP\]V;D\[NMTLT[_^VTUUMFCLVYXSIPSVUUUQMPWVTPSUX\\UWaeaXPOUWOSUW[bb]UD=DKOX]_\ZVSYYRQVSQPNQSVYXYVUPNRKFJHFMVVUSVQPNQXXURSVWRXXPFLRRPNOIJG@M[\YQMONPRMJHRVYVWWRLIHLLKJMOLNUW[_^`aZROQKGJPRSSMONWYRSTVMPSYWWX[XOOTOIJNMSMLMPQLKQYXRKIHLNPJMMIHGINQOIJTURLE:BLRLKPOLMVRPMIMORTRRRTURNOSTNAFJPMOPNNLMKPQQNOTRRTTNNSQJP[\SCQYQNR]\XDDLFLSTVRNTKFPRCSV`d]Z\fjaPVXXXIT_ts``d\YXX[TLLYXXUSLPONNQUYYVUWZYWVWYR[a_YXY__^[YZVV]]^VWQRRWUNWY_]YVTWTMQXVXVXVWUZSRVSOOXXWXX[XWWYU\^[XVVUWYWXVZZ\b^V[`^TMLXRUZZXWYZYXWMWWTLXYWZWVXZWTUVWYZZYYWOSTVXYUVWUUPW[VMYWXVW^ZVZVZWYZWXWYY^YUSQTOVRXXPNPWVYYRSQVWVZWVYTXZ[ZW]XTWW]YYWTZ\a^WLSXTRRVUYMPQWXSNUWWZXVZYZYYRNGAKMLLKJUWYYUQVQQQQSPNJEFEFNX]ca[V[VLNRNR_ic[YJBDIMLGER\YY_YNMMPPQNT^\YWRJIJIIFHLPRSYWRTYTQQQKT_aWSRUY[WWSKNFGNUSMGFHOTPMLPRRSSSRXWUXZZUQKEPT`c\XY\^_\SKNXTYYWQPNRPMQSLIQRLOVYWUPMMPMOSQTYQLHKQVUMHIPWY]YUVTRSUR[[WPSWUYSMTYTHLSQSTXTNFEPNIEOVVNMT`aYTYZROONQUWPRUXVQOPOMS\___bb[MRRPLKMPPQUWOKMKOPPTROMPOGENVQQSXUYWTUY[WMHKQVVSUVOMLPMFIMJBCGKSZROMUSPJRYZTNOSYWSMKJLUX[ZTOVVXTRPWZ\ZKSPIJVWVQPKKHLNNMRTTNY]ZQMJILKQHG==JPSSPV\\]YXSYYUW]YOHJNPRPNRTYYUMGCEIKKIFKOQNIJKNSRVVUY\SGKNQQPUVY]ZURGOSWSTWYXSTXULHJKLMS^TRUQSY\VU]\XRKJJGMTYUUW[ZYRPTZTRVQNSRQKGGJRPNORRTRMLKNRVXRMMRVSSPMNOOSWQKPVXUVVQKSTXYSKJPUTTQVZ[WQRTVOGGKLGDMTTQOPMKOLBAINP7HWSH=6&8T]X6LVVIJOMQXZVOPVOGKNMSX[YVROPWY[WPPOTRSXXY[XUYafaZSNTWQWYVSY[]UKEEKQX[[XQNMUTSQMLNUYYRPHS\[Y[SKKKNIDOUPNNNHGEJSZY^`]XRJLMOQRTVWUTTJ>LSVVVONPQKHGPY]VROMLKMKPSNKQQPMHKT_`aa`\WYQGCMQNJONRSTLHPSKFAJLMOVSOOVQEGHILSROKSTVWSNLOLDEIIMSWSLNF@FNKKKORRHIHLJHMMMRVVXYWOKPRRNMMFIKOSRQONIHLLNJNRXVQFHLJFMTQOROKLPPMPSMCSYVQPVabTKORPBLX^SRPHQXbaUJKLG8@CM#gdQNW^Uei^XXV\\XTJPMYWXYZUVTWXWUTOSRSXZXVXXYWZUWXWWVZYSTUV^]\YUSY[WXYWWUMQUUVVUVXXRQWYYUQWYVVXZXUVVY]]ZZY[[\YWSSSXTPRVW]_XXY``WTVUSSRVZ[ZZWXWRZUTPLWZTZYVTUUZXW[_YZVYYZXWY[WWZYUSUZYPOUYUV]\XPOQSXMWRPRYWZZVSUXVVYVYYWUXVUSXUYZZXZSPWWZYYYY\WWXXWSTNSXZWYRQYVUYV[YULVYUXRUUXQXVXXS]ZXVMMUXOA@PWVSWQIJPUVUY[SHGNPJKT[]`^ZVPRPOPU]cdaZQLPJLIKQV_XXZWTSWQPUUNSV[ZXRNOMLLOOJLGLMOW[[TZZWVXXVQSW]^^`XPIARXX\UPQTY`_WK@@LSQSWYZ[\_\WTRMQ\bgc]abac]VTSSKKXXWMJPUTTUNPX[UNQUWTTQXY[VWTXYUNIDGLNMEBQX\\ZROFENKLSXTPRUSVTHHMPOOOOV\XVVRMLKEBKSSPHIV`aa`ZRTTRQRSTWWVPMOROLMU\[TZ^ZTMOOIGRQNEHMMOQSTNFGIHJKQMKMQMNTTWWTPV^a[TNOJJDFOSSLKPMJPUQMLJM]a_RVSNJJQSPMNV[UNGLQPTVZZTHJOQONMTOLNPNNUQKPYVVROGEISUPMMNMPUSMKIFJNPNKJGAHNSZYRY^ba_^ZZ[Z[VSQQTTKPWXY[VNGDCCGQVOLRULGDOXZYSUSPTUOOJ?FOOHGLQZdcUTSKHFHRXXSUZ]YUXXZTPOONHGN\_ab_YWOEOUY`_\^c`[^``]ZX\YUJIOSTSVPLLRRXXVXXZ^ZVRTSPPQRTMNRRNLOLJNONQSVT\_ZWWRPSTUVORQVV[[^[^Z[ZVPONKHUXXQQKNOKHPRXNR\ZIBMNCASPNHBGJPLLIHIFIUUBHUOHGOY[XVUSNKFMLPWZQHJOPIMRVTUWYRMCGPSRTTX^ce\V[`^UX__^Z_`^TTNJJILSUTWXZZTIEJRURLRZWKFQ[]\[][XTRUQNSVKLUTNGMOPOSMSXXTTRVVVTRVWTORNPQPMHMOVYZ[XSTSTY^^YUQPLKRVUVTPTVWWTJFFOTQQRONNLPTQMLQPSIHLLNPQRRKNQSTLHOQKQW`bbaVLKNOOQVVQONQPKCPW\\UOKHIJKKGFMSVR[`ZRRZ]WMSXSNHHPSPMMNFEEE@FT\YUPONINNTY\ZWNOSPDIOENNQSPRRQPMIJMSVXVSNKNRRMLNNQQOSRMHFKSYUSSYSNHQRQRWVUTXT[ZRLMSUWWPNRWWVSONMSZVVZ[][SLNTWXYTPQMLGNLHHELNRXVSIBEJRQIHSY[[^\WTW\\WRLLNRWVWXTOPKIMTRTNFFQUOOSTY^^^^YVSQOUSMMMOORTQRSRQLMNOPQSRMBIQOMNSOLUY[VPNRYZSORSTUQPPHHLPSQLGGFNPTTPJHKPRQMMOOQQSMMJFNRPPUQNUUQNJIGEGFJ@/<=RdIEHMOTML?HZUFTd^YfjXZQZYOMKKPPOVLUSVX]b]QVVX]ab]YWVSPMPY`^ZVVVWWYYY[XVPMMU[YYRRVVZWWYXYVXVUY`_\^^YTNUYXZVMSVVWUXUXYVUSTVXXYTWUVTSRXYYVWX[^YW^[UUZVWYTZWXRWMUXSYVXWURXYUULQUZ_[XZW\YXVXYYWTWYPWW]ZWTVSRTTXZYWVY\VWVZ[XVWTXPWVSUXYVUYSUWZXUZVRSZ[ZWXWYTUVVYVYVXYXXXQVWXZW[[\YWZVNRVZZRRWWYSSYUYVRXYZVSLOOSVQPUVV^[RKOONQNMTYXY\YVVVNJNRWSNQUQWWQFHXdiif^TGEDBEKY^ZUPT\\SSUSSNORONOOSPMSXTNJNLIKRRTQNY^]YPUYYX[`abb_Z_^XSP[caZ]feb`^NC;BIJKLNRSTOJNSVSHNRUWQQOPSVSSXZZTOFNNH@DLJPXZZYWWPRSUSPQWXPKRVRPRRKQUUMHNPTVVPLMJOSUXZWQMPQQQSRNHLROSUTLKQTUTWNBCIPLIJNRPONGEHTTQSXVNKLJMUVQNQY[[XXTJFLPMKNSSVRJIGINOQXXTRPPOTOOLQWXVW[VKPXYTJLTNKJILPLJMUUOMNLJS\\ZXSKHGJN\caZWWWQCILIOUTRRLILSRNPMPRVZTOFFHJPKRSQKGIPPNEPYZTKQSRMHDINPUU[ZUVZYTKNKPQRRNQQUOOTWUSZ^^]`aZQQMMIJPOPRTLIKMHJJQUXSOJQVVTUTTUSRPLMQTURT[]VNIPWRQQRUOHHNQUWTQNMMOQPNNQTZWX[[VRRZVNMUWSWZWUXXRGJHGPTVTJGMRRTY[WQOZ]_UKGNQLQSPOMFHMNOMJOUPJKMNNOWTOHMQSVRUWXY[YSHDJLWZZ\XQTVQNMQNBAIH@=;1AZNRVT;324DCIPOQORSTUQIBLYUI@@FMTZ`[MLMQRGFLPRFFKOJIGEIMSYRNVZZTQJLSTY_^USV\`b^ZTLWbeaYHOUXXVWRQQUQFKOOORSUWYUJBKQPLINQOLQUOVVTRMKJFEKTTSRMISUKCHMQVTPPWWQNORXZTTUPRSVWPTWNISTNLFEKJLIFLQT^ee`XROQMAGGKPUYULMOMKMIHQQQQIKPRSQPOMPNGDJPPMJHGGKLRJBLMKOSTLLJKNJHNSPPVVSKNRRSOMJQOGDNURLTUUPJDIMRRPNNPQUVLKLGJIEGOOJGHNPMQYYQKHDGKNLCJQTTKO[]XRQZWWPSPZc`^[GID:U`_C9Xaa_XTJSLNPUVYXT\RSSXPTTWPUXZZWYQKXNSSVZZXVWYYVZ[[[XXRQQTUTRRVWXXSWVXYVXUX[\WXVTZURUTXVYXVWYZ[YWWYXVRVVZ[[][ZXVUXVUSYVZXVWZXWQRVVURXXZVXXZXWYWXWZZUVZWMLOU\^]XYVVZVVUVWUUWUWZY[][Z[]\XVTVWUZ\ZV[YYXZSWVVWXZYZYZTUYVVPUXZVTU[^\ZXVVRXZUZZTVX[YZVRSRLNU]bbbaVSSRPSURSVXVUNPOPUVVZZWXRY[ZYUOQPHRVPIMKKOSVZbda\QKPWQNOOMQTVYUKFKKBKV^ed]TJJLFGQZ^[TQTRQOSVQPKKMNTUQNKJMORVSRSQRUUMKNT^faUT\YT\_\URU^`]RNLV_]Y[`edfaTBBIRQOPSQNNQPSWYXUTTPMTXXQQQUSRXXXVNQTUNKJHTZYYZVVYVSSOKR^`ZUQOPSQPOSXTRPRFGQSTWUUXYWWUNQPRNLKRVOHOW[[][THRQLPSLHRQLMRMLQPLMMRV[UOQZ[VMLIJTZTNNLOQQTRMOMKLMNUXVUPLKKRUNUWNMSMNQOJJCGRVYUOIRX\WNLMKOPRTLHIJUYQLQRTLORTZVKCKOSU[_ZVUUXQIRTQNNNMIFQQMKPSRROROONNMQQOMOTOPKDRXXROVTQRV[WNJJNPLKTVSPPU[VTVVQRMKGKQWYRRWWRSUUV^c[TRLCGFLLLU[]\YVMIGPRSKIEOWUWWUWYUIJQQLLNOUZ[YUSVUSORZXNFORPW__VTPMKPRUYTNUUPSV[TVYXMLVYTNSUPQSMHJHHEIPSORQTSVUZ]\PLOMQMGIKLRRMKFAGLVYWXX\VNRWUQNRUPJGHJMSXYY[_[ODFKNUZ^`\QPUUMJRSQNNJDFLHKOIVQJINPTWX[da[D14IJ=MTUOF>7?JKPYSNEELRPLKWXMGGMNKICCFV\XRMTWTWOPYZ^_ZQGHVbfcWQMS\^ZUKQZZQPONKFFLEFHLQUWX^`VOKLMRNMORNNNSVSTPODJSVPLGIMWWWUTHIQWYSJOPUQLJMSZ_[UXPJJOUSORLGGNPRK@FFHHHEDJPYac`VMQUXWTRSVYXTUTIGJPSXUQTOPTTONIGDCBB@GNKJKFDDOVTQHGPSOMQTQMGGJIFOQTTWUTSSQNPHGPNKMPVQOVXNEEJOKHFQQPOWUQLSUMSRKGKQQMGNTQOXSOLJMNMLOLLJIPPIRSJDW]^XUQTR^_`\W@KK=TW81<^hTWMPONLQSSSTV]VJMOUQOYVXVNPWXUVUPWUZ\]\RUWVW[^WRXUYWQNMOYNWYSXQTYY][ZWWYWWXVQTUYWW\\YZZW^a^Y[\[\\][ZW]]YWVOXYWXSNTZVYRWY_XWUVWUSY\[WUVZWPYZ[XZ]WPQVPOPY]]ZZUUVYWVYVVYWWUVXRVZ]UVVYVNVNQRVXZV]ZXRNPRWYZTVWW_[YVYWNTZVUVUXZ[ZVX[[U[cc]UXYXWVZZUPQLYSaki`[VTXRQVTZPWYUQLOPMSUYWVQSUV[YY[XVPQU[VRTV[UVTWY\ccZOPWYTH>BEHOL[^VLJLOVZUTZ[VQOQKGNSPLGBGOKJJE@EILRUZYUNEIGCJRTSTVVVSQSOMT\`WW[ZTW[UKOOLNKNMJV\ab^^[\bb]XVXURRQSUQQPLMRVVVYYUNSTQTOPRWUQRXZXTUOMKJJSYRRUTVWRJOSRWZ\WTNLNTOCAHPPNSWUONPRVR\d`WWVQOOOTSNIOX]\VLMTNHNOLNSSOEFMSWQIFPURTTFBMUY[WMKILTWXVURPJGBNVWNHKMLNKJMWWWOCMVZ\[TKITYYZXSRVY]XMPVQQ\]UHJCCAL]`\WUJMNMUXVNGCJSUUUUOIGFNWSPNNJKQRNIIMKHOVZSLIORRMITTVTMFDIWNSWWVRMTVOLOOMQUXRPKJNQKKNLONNPVSOWVSROMIRRQRNQSUPKQUWce`USPQSMHJNW[]]ZQGHJKOG??B@CJTTPMXWQPQNJHMQTPMTWRMPRRQVZUHGLKPWYZYWQQROW\[RQ[^`edaVSNJNRUQDMPMDJTXWSSKKNRTSVWUOIKVXPMIEAEIMPNHFMOB@KLTY_]^^YNQURUMEFGMOONLOUWUY[TPAAOIFHFHKTXQSTIKPQTZOPTTYXIJ\PFHHEPTUJ#AIVXVTINVOVPSUPVQWSXWVX`d_TRX\WMRWUX_\WYW`b^ZSYX^^YYWUYZYXWV[[Y[\[[ZSUYYWTLWQQLX[Y^bXUSVX\[UTVUXW\]ZYX[`]WXZWQTWXYWYZV[ZYXVYZXVX[YXY[\\YPWWWQWZUQXZUQPWX_ZYXTPZ[ZQRZYYZZWUPMLMLPTOOVYW\]XWWYVURVWPRZWTQO[cca\ZOQQSWYVZXXUONXX[[YWXROVXVT[XXXXVTSX]bhf`YWVQRRSVRXUNYVYVPU]]YV\]WWT@BRXVMOMQTX]\[WVSUXZYYTTWWVWOJOQNMUXZ\TMSXZXOOPUQUXYXWNKLKVZUNLLUWUV[WW\^XQPNKHPURRUWVOILNLLKJHMQUUUTY]VS[bc\URPOQX]`^UXY[_XPNROI@DMTSPPKHMT[``\TKMLSX]\]ZPMSYUSNF>EOQMIFHIMSTKEMRTSYXWZWQORRQKIOORKINVUTSTPMKMQX[TPRJQTXIIOY]YWTONKMPRWVPHNLIHKSVRIOZcdZRGJRZZSMMRVRRX[YTVSQLMRRLKRX[YTPIPUY\a]\Z\YTNQRLJILMRSTOQTSSROGJKLJMHGMUWUWZTNX\YQIJNQRSOPVRJHCKPWUUVRQRSVRLFJKIOSTPVWXYYZZWTJLTMNOPY^ZYXMIHGPSNKRYWSPOLLJOUOKKIGJNNIIPRPPSXYJHVZRSURKIQVUTPQWYZWWSOLMOTVMLKNSPOQPOQQMPRMFBHJSZWNRSPKKNU_bbc`SFGVYVRIGLIJSZ_WMRXQJX`[RQW[X[a\Y[]]RJIQMHMRNOYXSUPOPQLNWXXURJIKPRQUXUURNTYYVWXTRRWXVRVZXXXUTTRTTMGLSWKHHOWUNHPNKRTGN[TRVLIUUPW]ZTPLJJRPW\IBT1B_bXMK@6P]^b[MGSMVXNCET[XWTG=CJNKAGTWQPSROQVVVOADHKGMUYZaa_UOLCINSWXUQNKFCLWYYY]\ZZUMKNQUTKEIE?CLRRTVUTQIOWZWU\]THD?EQMNPMMQWTURLMLQSVPMNTTNLMQVXTTWTMPTQOMNSTNPOPSYTRMNILQVWTSPSQMRTRNHKY`_ef]VPMIFJONOPONLKSRNMNQXWSRWXWSSWUPMLPPKMQSQWZYSSQQMIFNQJKOPIHKTWVMIMQHLKIGFHNOORUTSQUSIHDFNQLJNMORXRJHFNSQLNUWTNJJMQ]^YQGHJMQVXPLIGKTWY[\VSVVOITVWVOANWTF1*;B?7:JDILWUSUNPVVQONXWWRKQVKQYXbbXSWWXUXYU]cb]WRVZYWZVVVXXWUPOQTWVVVWUVXYWXVU\c_YTVWZSTWVZ_XTVYXWUUMOU[]YWWTPVY[XWVZSQRQWYXYSVXYXWY^^ZWWT[SY^`[ZWYZUXYRMYMPSYTPZWX\YXVXNNUYWYXWVQMYONRPWVUYWUZ^ZY[YWWYVSQQWYUWV[Z[_a^VTUUWZWVVXOQWXX\]\Y\ZXUTPTXYWVWWVXX[^cgfcb]TTUYOOVLRWZWXZUUTUW\\UURUFGNLGFW_^VRRTPMMJINQTQICHOZYTONOHQXXSJKSRY_]WV][[\^XOGGKJC@NSSNRRH?GOTVZYRLPVXYYXSKKPSYYXUUMKPY\\WSQQZXTX\_e_\YVTKBGEMSOQQNTUUOSTTWXTQNTRKKMLIGJFIMOQOSOQRQTZXVVNFNMIRVQOOPKPSXTVTTRNKNRSVTOMONSVSSWQPQLHPWSQRRLTWWY___a]SQLRUSRSKGLKMRVQGLRQRPPWRNNRX^^]MHBERWVRIEPRQV`]YQOLLJLQIBKJJQOIIONXaaVKLU\]QMJHJDBMPQSQUXYZVTPLMOVWSJQTXXW[XVRWXPKNSVVUUTTOHKMFJLOSSLFLRTRH?BDLRWVUTQQRSTOMJGPWULQX[c\ZWQMLGNUPRWWTLLLORNPUSRQHBFKNQRTWXWXW[UPX^\_caUKNRQLHIQUTQPTZVMDKSONSSSUWZTLLQIKLIDBCKPW\^\XSOLKXXW^dcYPMSUOPNOVTIKX_^WRY`\Z_VJNSYXX^]_`[VPHHMKGQXWWWWWQRSPUTXXVUSNNQUQGISVTWVRPLLNX\XLQVWSQNPOQSVXYURNHCMXZVLAJ[a[RSYRNSPMUSTSGIUZ__\XQMQVVSMXcaMVWPMBFQ;96QZ\SROTZba]OQTOKRTG=>AIOKPSMGDE=?CKOMJRRLNNTWZZY_^RMJCDNXa`YXVOF;BJLQUWSUVWURQUXZULIJMS\^WTQPTRLKRWTRSVRJD@HILPSQOQWURRSMNQTVOKKMONJMJPQQV][UQQLLFKUYTLJUQNMQRMMPSROONMOPNQTUOMMONU_cc]WRSMPOMKJIFDIPSSMLQUUPMOUQIEOSRVWTQUSVTMU\\VPNLOMIOSQLQTPFMY]YXSPLLFEJMOSPPNNPSVWWUSSSMNSXVRNIRZXLKEHKHEOVVUNPOQZad_UJFICALY\[UWWYWJDORSZ[SSW\[^ZXaihcWSSTU\]ZSDK.PTSSONTXSP[VWYXMPNPONUXYPYYYWUQTW[YV[YXTZPYXXYTUYYWSQUWVUYYTYZ^[ZYWYUYTTXXTMVXX[YWYXTTZVZSY\aa[W\WWZ^`\VVZVWZXWUVYWXX[WVX^\WZZSYXOWX[VTUWWVVPNMOUWSMRYVXVVXVZURWRWX[YVYYUYXQPXVURWNTWXWWZY\\XTVYRSTX]_ZVZ]VUTZZWSSVULPYZYWZWWTVZZVORWURLMWX\^^ZZcgaZ^_ZTWVPYXNPTXXVXUTTWXXURRXZYKNOPOS_^VMORTRKFFKVXSHHINRYSMJKNT[ZQPSYYZYVQ[[[\\UNRQQMKKMT\_]XWLFJMSUZ]]RTWWSW[YQKFOXZ]ZXWUVZ\[YSHOUQOXZbc_`a]XQLMJPWXZ\XQRVX]ZVUZVPONRQOQRSSNOPTMLOSMOIOURRSVPIJJGHJKMNQMHJKHFJQUUWSOTUYURPOORUYWSJLOILWVRPONQTMNU\ac^UNRPLLWXMHMRLJIGIGHFKTUUQPIHPSWSQUUQVXZZSKQQQW_`_VNNOKMKIKKHELSRNNU_gbTIGJTUOMLKNHAIMRTRSUTSJCEMOPUXSTQKIMV\_ZSSRRMLSXTQONROOZUVVTQPRVUNJLKABFFMQSUQPOOPONLNQNFKHGKKJZ`VSLNONKOTWXWPOMMQVURUUVZVSORSQOOVWVUVZYPSURTYYTQWYTJNPQQQMKLNKLRYZZROQOMTWWX`\TMJHGMTYUT[`a^_[NJYYPYbe_ZTRVX[YXSUYTV[]XXY\]\XTQSXUMPTTW_^WQOLKLUX\[[X^ZQMPQJRYa`]WSQW[[QKSURTWPKFAEUURNGHMOPRZWTWTOKGEIMMLTTQMKLMMJMQSXWOILSXUOILY[TLKMMEKLRTSQOQNV\\][TPPVQLV][TWYXXOMSUUYQIGIK[cZ]afjbWPNIHUYTROQGIVUKNY]RNT[]RVKLVXLUTRUSW\YX[XUOQUVV[SYQUPUXUMUKTUQVYZWVVWVVWUTW[]`[XMXRXXXXZRROPZZYX^a\YZdd[TOUXY]``YW[YXX\ZYVVZYRV\]Z[XZZVSZWTUWWYUZWRUWWVRZPWYZTSYWSSNYNRWWWTSWYWZYZYVZVYZYWTPQMQVXWZXXXYWXXXWZYW]\WZWV[UWRRXSRWTTWVXXYWUVNZPPVLSQMQNOUWX[]]^bYTUYZYTVUURNQUVUTTVTWWVQTTXXZQPORMKUZXQRVVTQMKQQRQMLPOLFISRLKFOUTNAELQSTUSUUQVYRPTQORMJPRPYWQQPQOQTTLVWTTWPHEKQVJEHPSVRSQQPPQWZTQTWWUPSZdgjdUVXVNPOS[bfe[U^`b^YUTUYYTQPLHJRSWV[WNHOPNKJQTRQXZQFHNKECBJOTRNPMG=BLORQRPOSRMOWYROUXVOFFMRQTRPRQQTRTXXSTQQRTUTMKQQIHKGHMIKPPSQNSUMOQQMKLOSSTUSVURNLKQSNTY_`UMNSPROHBKORQUSOQT^b]VRPNLNJKOYVSKQUUUROJMROGEFIHIFJQQJHMT^aWKSVQJCHRSMGLSTV]]Z\Z[VTVVRMBBCJLNPPPRMLOROMLNQUTOIAINNKUXOYWUOOSSWYYXXSLRWYTRMLSZ]VRMLRVWXWVRT\ZVTWUQWWSOU]]XXYSUTJGFE@KXY\[USVUOSVWY[ZNJDBIJRWVUTVVTPQS]ed_Z]]YSTVZ\X[ZVOU\XWRRTQLOTSIFMU]ZTNJRYZSMNQJHT[[XY[ZYQKOMEES[_`ZTRTXUMILPWXWQPQFISY[UPQWZXPPURNKHIMLQUKA>DLLMJKMKMRULHDLMMT^^WTSOSUQTQTVZ[Y[VOKMQXWTWTGE=E2=WXTRTQSXWQNJNOXVKBCJSSMLNPVUNJLILNPLLMPSUXWUUSP]hbXLSUODDEINUVUOSRRQLMQSSWWSRXWSQOOSTTNBEHQTS[ZUOPMHDEKLHKQOLJPTSNQUURVZWLHLU[XSRTTWROMHFLMGBCGFBHNNRZ[USPOMKMRTQG@OTPOSSMHPNIGKRNFFLRSW\a]USRMMLJTVPMPGMKGKRVWYUMJJJLOTRVSPNPUTIDJNNJHPTNGLKNWUPQJMTRQKOPQMHKQSKHJNPSTUWXVRKBKRQORUSUZ[WWXTILMGINPTOJNUVSMOOSXVNJRPIW\UOOKLKKQMEF>GQVS]\[]ZHIMO11CIRQ9/,ESLLLVc`blpb^VX[XVK_]VNYWSR\a\VTPXORMQZRWWYUVNUMSVUX^YYZXa[YXTMKPV]ZTSRVUY\[VVWRWWUXY\a[VVZ\VX[UV[]]XYX^]ZZZZXZRVYSSY[[XWXVUWVVUT[WYZSVTXZXXXRXPTXUZRMPYVXQXNSVXUWYUVVZXZZZY]`WRRSSUWYXXRVQYUZZVWYYXVVVTY\`\YUPRSVUUUXTRTXXXTPOQSOPWWYVXXYXXWW\`b[ZRPUWYWX\^WWXYUVRVTPLYTSQQTOZLGJENNIJOQWXUKLSUUTIMRRTQJLMJMOLLSROMMGLTXUIBHQSSVWVRRONWYQHHDLURTUWWYXVRSWWNA9JSNLOQVSMIOQPNOPNJJOSQMLLO]imcUX]ZRNOS\agdXOX][XUTQRRUTPQNNMEOSTVXSLKIINIEJKU\b[KFMMI?@KW[TQQTQB;DFBEJLJNQPVZYQJPOCBEMPRQMKOWZ\XQVXTPMTXTVYRZZRNNMLJHHJSRPMTVRTVSLSYYUSUVXXRQVXVVPKMLIJZac_TVSILMH>FPNNNNQWZ[WOJPMJKMJLPPRKJGINSUTTSRNGB@FMNNDINHKNOVWVUWSQPJA@DCEORUPONUYYYVRMMOOKJLKLOUSRLNVZYYOMQTSUSNLNPGHPRKRWSIHQTQPSYZUHOXWWSKLW[UNSRNX``YXWSSYXXSPJOUXWWQWYWUWRMUNOLHLMVWXZRSUZ^]aYUY[VIIMQRVUUTOPUSQJWgpvqf[VWTQT\]VTYYTWYXSSTWPLPUWQMLRZ`baTJSUSSWVLJRYVZWZURSUOOPOPTUZ[TPPSVXRKDDKRRPOHLVRRTSPQONKQOOROJGFEMTRKIQUVXXXUMLOKDMSUROQUXXUOKIPLKQTVXWRSUTX_[TMRW5+HVUSRPLMHB@HWSHCCITUTE>LOPIBFFJVRHIIGRVSPLMJLRSKPWYfmdYPLUTQTPRUPSPOLLMQNJHQWXUQTY]VOS[`\VK@CKPSOVZXTKOQSMPTVUUPIILSROHGJKSWUPOVZYSTSOPWYVSMLLIGDGNPIKRRSUVRRTUULLSWWSIOKKX\\YXTRTV\XVQQQG@MSX[SONRRKDT[[XTSOOROSSZZQJKRWVMGIPRNOSWVNOKPQPLSYVTOJJQQEKMONLNQQNILMOUUOMNKOUYWTOSQLHJNQLSZZYWY\]ZTPLPMKNRTRILPUOKHJLURPOUPLPUVWXTA?FGLMOJKP[_]_SOMIIVUGFFGH@4?Ac^TSWV[]LUVXWSX`YXKU^cc`YYUbfWV\UNKQSQMWY[ZUUORWXWXX[VMLQYUX[ZVLXVZXXUX[]^_]YYYTWYWWZWSQRQVYZaa\WY\][YWVXYX\YUPNQVZXYXZWXTUTVVZYV[X^]YMSX[VUPSVSTYYVVWSYWUUTYYPVVRORUVZV\\]Y^a]YZXUZZZUXWSWUYZUVYYXVTUYY[]`_ZXZWXYVTYVUYWUZYWVXYUXZYZVWY\ZYWZ[aefcZYXW]^YV\[\YPRYYXXVZZUVUQLNONQSULEFPKKPSX^`WQOVTSOWYXYXNTSGKRPMTYXXQLLXXPHILOINX[WSSTPRTQROLMMRZ\WUTLLRUWXSLGNPFINQTTNJOSRNPTRPRLOIEIKLO[^_YZ[YPJKPUbjj[OPUVUY\WUPKLIFEGNQPONOT[YSNJRSLGHTdjcPJJJFDIP[^XMLRQLGDFFEOTPLRPTZYYWVOIINWZZ\VVVVV[YRONNFKR[XSTSTUKDJLOORWXTSSYWVUUSMP]\YXSQQOLMRXXWULMHB?LZcec^VHMSMDDPTQURPTXXYQPLAFOMKIHFFJONBHNTW[\UMMG@HSSRMOSQMNORX[XQHQWSKJIIPSXXSMIKTVPPPPWTKGKKJIORVUOPSWZWPNXYWTSRZZWSKQTLOQTLFRTQQW]^SENUUQL>OZVLLUUPQUVTSSPMKMQNJIFMSWUTNH=ERPUYZYQKPRUUXZYSTX]aa`X\WPNOX\ZXSNSUUTQTSN\lsxpfZTMKO[aYSROMPXVQKQVWWUZ[XWSRRX]_[IDQRU[ZXU\YYYZRQPOPT\[WMQX\ZQLMEKSPRNGDLNMG@NTQIMQSNPHKJFCILOTOFHMKDEJSXVTSWVPPMJOPOLNVUNHIPSJHC?HQVYRGEMRY]QGMWUQWMM]`aeO4=DCC6=IILKGEQTQKOROIELIOQRNSUOPUZVUPOMSSJGN]gjcWQOSUXUPTUSOOMVWOJNH@LWXQVZWWSLNX]]YMGJNTUUTXZWSPRSTUWXXTMMNRNLLIKPRMG@GIOSOMW[SLRPJMPNOMOUQUYRJSXWQMORLMQMGMLSRPRNIRYXW\WNNW_]WPUWROPFCKPSSRQJPVZUTUXWWVVQRQWUNHSY^WMKJJBJRYYUQPNSTOQW\WUNJJFBMLJJRXYQGJTTOQSSUSOPSOPVTRVWPIEJLSTXYWXUVWRRUVTRRNINPMMVUSPLQSPOPPQIB>HPQUTONWTKJIES[d`WYPIS]_RAQNJLIHNTSPQYVHEQRMRSSV]]YVVROKJE@OTWXVRIHKJMPQMVWSPQTQMC@@CHUXTGGV]VX]\[SNNSSQHEPTRIQXUQQSVX^`baZXTSU]_YKEDKPUW]\Zckj\LHU]___\YSPNPQHDSXVOIEHHGLOPTUVPKKSTPOY\WJJNOSUTOMQVRRRSU\_YQVVOHPSTTSTVTVVUUSVTUTWYXUSNNOPKLA:?EQ[XWTUZYXPHGFLSYTMPVWRMWZW[^[UPJMXZTTTLHFBEPUZYVSSUYQRSPLEKMMLMRQRTQKMKMINQTTWXUJOQQRSWYTIJS[ZROPNNTVWSHFOMNJLUYULKPJPTRLOPLPRPPNTQKGIMNSZ[XZ[VIKLGJOSQOLLNRRIFPWREKRTZUQQPPPZ`ZNLQQNVXWVTMNQY[VHKNLJEGO[]ZWQKOQILVXUWVY\YTQPX__TLMMLTWRSRRMKMNQORPHMRWXWXRPUWSVOFLOOR[aaWUY\[VKEERRPSPLMNQLITUNQTRRUSVLFPUYORXYSTY\XSOPNSTUU\_UOYXUVWSQRVQDIRPNMIELSSY^\UMDEGCAJMSTURIFIPNPTQJFW\XRI@FLRPC?EE@GONJMMKZ\LBLKCIUX[UQONQLSRFFNX]QF7:?]]WCIMHGROEGBHAER]\WSNPVUSTNSSQY[VKJDFDCJOSTZbe[RLHMSTROLLKMTRNOOPSSOKFJKLUZYXSNNUSRURSTSKKROUUSRSQU[XTSQNOJGTXWLIPUTTUTQMKOVYXQONKNWTLLSXRMYWSQVPHFCGJMPJHQRQPOONGJPMLKMMG@GNPPQTTOHIJGNQNOTPRPMEJNT][Z[SJIUXOILOPUZ\XMLQWXVRTZWNPTTRQRWWROIGGIORPGLLFQZYWTLDHOWXROPMTXZWTUXVSSRPOIGJQYVPRTUY\ZOPVZXPGCJW\ZSOMOQSPTUNNKHGPXYZ]]RMFGT]e`SWWUVR]b[LAYXNOJQ[Zcbkng]UJOKTUX^LKLNOYRSYYfmeWYb`WTSSQMXWWXTY\XTW[[VQMOVX[WUWUSNOZXWTUUVZZSYYZXXYZYV]a_YXZZZWZRSOWMMOVWV[XWWXXZXWWWYZUUUXZTZMPMQUT[\``[XSPSUWXSXWXWV\\WVVXYZ\[USQTTYZ[]\YWZWYYY]XWLMXYWSVVW[WV[[WX]]Z[ZYURYYXTVSTXWXZZVXX[^]ZX\`a[[VXXZZ[ZX]dgaXVYYW\^`ZXWZZUSVWZVTYYZYYURPQSPOXIJEGJIMQWVXX][NGRVOQSRSZ[TNKLIDJIKOLGHQXVOC?GQTVSQHHJOPMIKIBCIRRLFNTOQVWWWSOSVSGAJNQLLQRMRTSUUR]^XNEFMV[TNKFGPX[_\TVc`ZPMW^`ac\SVRORTIGORONIMSQJPVUQPROGFKRQV[^^WNPQQMGDFSYZUQQYbe^QPJDFMNKLT[_ba\YYTSTZ[\^XPOOMVQKJHDEF?N^PORWZSMJI=GPTVSMGNQMQPPV_[PGDMUQONMGKMCFQQMGLHKQWYVTVSQPONQXYQQWKCGNJIUXRRLLMMJNRVVWXVMCFSWOPURK@JMMKHQWUMMWYUMGDGMSSNMSMJIQSPMNNOROLJQOOUYWLLOLMORYUQRNJSSORTRNSY[Y\UOVVVNNQRTTNJMQX\YWOKPURTU[ZXOLPUXUQRSUWRLQTXUW]__\YSRZYMLROJKNOKLROJO[VTRSVVUVWWOMTXPLOPOOQWXY]VQR[_b_XWZZQJTQI>IPLLW^[WOJQOMQRQOTUTS_b`]`b]Y]\YWWSX\^VQX\QVXURXZZUNMFKLKIIMPYVTTQNLNJ?AHPZWNDBITXUPONITZYWOF?HHLKHGC>JKKPVTEDUQFLNGKJFKNTWVRMMTQHJB^UMIUX\PFOPMKSQMWSGMHCDRWURVXTUUTQMLJKIFEJLHKLJJU_ca`YTUURQTNKLIKRNHGHLOUWWSPLIPSRXWROPSNPQOKKGJMPWXY\]ZVVQLMIPTOEHQNIEMW\TKMNQOJNUY\[XSPRUJKONJNSSMVZXQQWVTRQPLMTV]YVSNFILMNQQRUQPSOSSQKBIMGEJJMJDHPOIKOPQPTVOGFSVSLOVVVWUSNJHKSUVWVXVVXWRJMMPSPLJKIINQOAEKOPNQQTRQOQSNKNOPUWVUSQTROKJJIGJGORRRPPPZVQMOXYTPHERZXVTWQOORYRPNIHLZ\UFPPW^]TT_ce]aaUB>SUWGDW[]^cidNhhXRNU\XWSQVZZYYWLUMYYQR[a_Y\XURQQPYYMQSZWUSTVUX[YXQNSX]_XWYZYYZUXOXUX]^YVXXWZXVXX[^WXXWUXUQUSUSRNV]ZVZZWYVYXVWTVYZVVYVTUTQVSUUVY[VYTONOTXVWNZUZWZ[[XY[WXYXYXRYXVWXYZWYYUVVZVXWXZWXWSLPRYVSUZVLTX[WZY[YY^`XVTXYXXX[YZVZZYXZ[\caZVZWY\XVVWW[b[Y\XXYSVWWXWY]XRWZWYPTVSXUYTYOQUSRWRTTTVRMNTVZWUYYUQJKPOPQRURLKOMILOOLBJWXTOLKLPTSSPJMMPPRQOIEHKNVVPOPMNOPSURINPJBPWRMJJIKCFPUXSJRXOJHAAFQSQLGQWY[\_X\ghf^QR[]`^XUSONPMFGPLLHIMSZ[TROICLJIIMQTVVXZYTVWTI@@CLXZVRUV\[WXULGIIJJNOZ]a_XSUXWYWVWVVRQPMRSOKLDAIMPTUGKUYY[ZQG:GRUUQMMIHMOKS_]XRPLQOPMKKPQHDIJMOPROONRWVURXXSOPWSMPM>8@DLRYY[WMFJONRSVWVVVRMNQSPX_b[JBKJEHRXTVZ_]`\WRPRRSSSURLOJJPUVTTSRHMWWQSOLNQSSQQQNSSURJOSRMKLNRTTRONQZ\ZPJNUYYRPPLPTSNRORQOWXYZ]UHLOPFCIMSXWNJQRPQTSQSVMJQTQUVTQOOOOJHTUTRPOOPY\Z\ZTRPUVPTVTSQPTYXXSBHUYchigd\SAJROKOTOO[cc^TLLPQRVXVUQFK\_^`cff`[XVYZ[WXZYRQRVZ\Z[ZUSVRNQHMRSOKNSPPZXTUSMGF@FVWPJJNQSXXVVVSTTVVRGB@DGMRTTWVPPNQKDJM=DMLIFITTSYYICQUUWTLK^EEKB3=FDQ\ZQ\[PDTQTZOEPOVXZ\[SPDMNLMI@EDDGLQXWXdpxsh\RRPCAGLMKLV[\SPY\SRRWPUPPMLMLKKKPUTSTMBABKJKRQR\_XLJOOILJOKLLNIFCJRZ[VLRUREAP\^_^ZUTONTVVNJRPPUTQTW^WTOLIJRX\YTMRO?DNMNRRUXNPOPSWPLOLMJHNNMHCGNSSKNQSVTQONPTQQMGNPRSPMLROPKOUWSMNRUMELQTNIKFDELQHLSNJPRMJOWVPMKNUSJC>?KSWWTPPMMLNOKLQLLPORSMPTURNKPRRKHJNPJGPSSC@KTVPLGSZZ^VQUPEFXZZ[QVSVWZEISXUSNP]]\U`b[SYYTWVbe^[[NMT[eg_XWYfWSMOX]VNLXQXQQMRPS[[XSYVWZTLNSKYQYY[WVYY\[\XPNVWYW\[XXXZVZTUY]XTVXWMNUYYSWXWZ^`]ZZXYXWYWYRPUXU]`[ZVTRTWXVZ[WYYXZXSNTWWYUSTXXYYWXZWXVYWWVSWYUYVUUYWWPRXVVXSZ^d`UOZZYTNULSVVXX[XSMUXWZ[XUVX^_]^`ZYa]YYSSY[ac][[YY^XUTMSV^]_ZZVSORRVZW^b\VUVTUQZSRUQMOOMTXYXUVaaXWOCCQZ\XUUXXONNNSRMMSSTSQPQJGNHIS[YSSURTVRNJLSWUSVYWNGLRUSTWQPPPJKQUTSJEIDJVZVOQTSLAEKFBQQV\]^`aZXVRKD@LOMMSQRX]]USZabZRSRPNUTMKLNNPUTQLMNJJPSWRONQKMNUTRMFJI<6BMTTQMPTWPLORTSSQMORQSMNSVTSU[UKNQQVSNHEIIOSVURUSQKPPLKJIFIJKQPOMQQQSRHFMQKGPPORRPTKBGONPUUMEJPXUEKMNGLQOVYXSPMQXUUWUPJJKMSTRPTSOGJRQMIJLQTTW[[\YSNHGLGFPVVPRWTPKPOMICCLQUPLPPPNPPSY[TPSPPNTRWVVRMLSREOSVSLLD=IOONRRPLOOJNOH8HTYLRTRPMQNRSWOOLPP\`[GDXWUXbh]`_U50JSPRB@:GTTRSRMPTIEQVRDAFOSLIJMNKKLONTWPFKNNQKJJLOONNKJQGINKFKMNX[ZWTQNKRWXVVUXUJMSRXWVNXUTZ[VSNMMQRVPPOLRWY[ZUMJRXWUQNPRTTXTSTUTRJNRPSTRUSRV[WVRTQNTPU^a_TQMIC>JTUUNDFPQMKRLDCJIGEGNV[XO=EU]`WWPMPUQOX\XZ_[TNOJOQRLS\[XMONNMOPIHONPSRJGOVYQNLQSLLYYSLLCDLPOMLPNPQROQRPRTXZURVVUOJOQQLFKQRIEOSNQVXVIFPSPRVVTSPJGPPNTW[]ZVVQQSRPW[SSTRPLNPSTYZXSSLMRNIRUTSWWOPSSVWSSROMVXPRUTQKKOPOLKEKPRTQDGMKHITUUSSOLELH@@JHKHMNRSVQOLOPQPOKPPMW[ZVOEHPTSTYUQMRSOV^\QDIQMJGMTUMMNRV\SWVWWVOSZ[UHPUJINOLTcd[RJCGMJJRQTQUJBMFAMWVHQIRPQWORNgkYUMXUTU`dc__a\XXWVOSOYUOVWYYY]_]ZNSUYXUUUWX\VWYUXWYUSY\[YYVVUPTWY[\`\XVWVWYZVWTTYXYZWUTSTYZWVYVVXUPVW\_\TLPXUYY\ZUTUXXZXZ[ZXRNNTRPPXXXWUUZVXRYZYRNUYUNYYZVZVTZVWZaXRVVXPW^^]\WSTXZSTQPRS\_^WZZYVWZVYVZ_Z[`kog\[[]ZYX\\[]\YZOPUPTXWXXWYZRPWUPOYZPUVVNMXNRNXWWVMNU][QKTXYZJ<FPVT[ZRLKHIO\WKFFLUXUMRV[NDJNVZZUSPRUOMXa^\a^YSQONKCGOXZWMNNPQSVSPORNSRMLUYUMCNUVRLNSNOLJMKKMSQNRUPNUYQJEBP]a_`]PGEPOIQSROIKNMKHITWVSOSSMRUWUKGELNNGKQPTURKHMRRQSUOLJKNSQSWZYYVQROLPOSULMUY^ZQJSUSKMPIFPUSJOSQKIPTVTVUPMQQPGFRRKIOTPNEHGMPSNOORTWTQORX[UTLRPNQOQTX\\USNOTTQOTRROLJMMSWYUTUTPJKJKLOQQMRSRPSRT^]UVZWQOSOSVXTOWTEHMG`_VLLP[ZMTPAFFGNM;VLNQWUP\ldZWVYYULUTWVW[WKTWXV^]VOLX]\[\\Y[TOWXWY[YY\_]XVRWY\[VTZ[ZURUUSOQUYWVZ[VZWXXZVROMQVV^^XVWXVYVVWZYVTSRSZ[]]WURXZXYVUTYWTSQUVWWTPMOSXYZWZZYSTSVSPSVYXQRYXZV[XVWVUXYSVYYQUVWSWYVVYWOUYVWUWTLNY__][XXPXXWY[_eebWZc\Y^^X\^ZV\^b`]XYMQUTTUSYSPXVSWZXSZMMNZOTPMLQYYZWWMMUX_ZURNSWWRHGJORSSVTQDBLTSKPPMLSVRLJIBLOPNV_b]USQUVX]]XQPQN@EOOHGJZ\POVUSWRHILPRKFIVWXWSKMVVTTQV^XPEMUYZTQUWS^giaXORTY^ZUNNXZVTRQUUV[[TIJMKKIIHMOLLOT\[NIRUVTWURNKJMPFUZ\XSTVUNRYYWTTL>GMLPNMIIGHPSXWQONJMQSWUOAAHLHNSNJLMOLLMRUSQUVSLHHMYa_OJGKJKSPS]^UQLGEKPMHLIKUZ[be[UPROD;EMRIEKWVNHGDMQPTW\YQO\_[YVY\VLGSUPNRXYVWSRW^\NJLHAKUPOWQGGKOUVVNJBGPW[VPHDGBBLOMORSQMPOGIQZXQQOCAJUQMPRUQQLIKMOJLLIJMPWQOZ[ZWLLKDAELSRSSQKLTVTRNPSRQQRQVY\XNS_ac_SLTWSKIPTVUVXVJFFOQMPTMQWXWY\__ZRMVVPPQPQLHNTTRQPU[XRPSMGPROOSURRTSQUXYX\[XVVROU[\VONRV]RLHAGPQWQNRPIJIPOGJYcbZU[[XURPKADIRRUWXZZWTYRPNJMMHNRUPKNRKEGJLKHNLMVYSNKJIDPRNKLJIBGOTJGHQKD<>@>DQQMNPMEIFHKJJJOSJSE:GCAKCAF>69BKCE^aYSOK@S\YTRX`c[XbgbNKTONUV[[Z]\ZSXb`XXVW]\]_VGERX[\ZUZ\]XWSPUWNQXXOW\WOMVYVKF=KOKCJMMLORQT[\ST]_YSK@HRWX\XPPW[TLTYWPKNWWRRRVYUINUUTLKVWULEPNKKPSTXYYQGFLSUMOKOLMT\ZTWXVNLMOPMNKQUNFQTW[SSY^ZNLRPLMRPKFMTMBLTRRWZQDHNMLOTTQUXTNJKQWVUOPKOMOJJMKKPPTSTOOFNPRPRVXVUMOSRKILORTRNORPKILSYYTNNIFEJPXTMIMQNIGSOOVVYWLHLPTZSRUPFQPNYYPRHIPI,MOHG;AAG;58QRLNRTL[VXaZWYVX\V\XVQTUTQ^gnjaRW]^VXRRXNTOW^``WXWXZVMPX_\XWWXUXWUSVWSWNTUYWVVYUNUYZYZWRV^`baVWXYXVXWWYTMWXX[`cd[YZYZZTTZ[ZYTVQRSRSXYZSSUW[OTWXWZZSSUVWYYWWTVTZZXVOQVWXUVQZNQYYXY]YYWUZ\\WZY]ZVNPXZ[ZWZXac^^]]Y\]YZVYWehf^ZYYYZZ[[]ZXW[WQ[VZUVTQMNVWZZVWOYTYZYWYZUZVTQSPXWUXYOEIPNC?BKSWZVVTK?CTTSTQGGNUOKJFLSVY^ZYYY\XWVXSUTTRWSPPUZUIEHRVXX\[X\XNLMSTHARY[Z\VSVSSRSSTURLKHMSYXPORQ^hcVJFJVYUQNSV\UUVNMTZYZ\VMMMTZZSQOTQQMX\ZSPPQQWVSOPTRXTTY]^\X\baYTQNMNWYQJKLQOQVWNCDJQTQOGIMRQWWUONUQMPOPRUSNNPOPJFPVXSMLGDOVXXYXNPONIQce^ZTHIMONLMPQQSSY_^[RDIEAMSPH:>NSPPPPUUQSSSLGMUZ\YRU\[SKPRLLSVVVTVYZZSKNSOGMRIMUTOOOPRVYRMKLPRTTTHGMFBNSSQQPQQUTKJQWZWWYSRUVQQMTVUMIMOSTQSUFCKQRNEPLJLOG@:GLQSZ[[\RINQMQRV\^\[UOOYYXTX\cdaOFSXZZXVSVXTRTTQMMQOMTTWYW[Y\\\^WMPPPMOOPJJMNOQUUSVQKLMMUXPLPRPPPTSRWYOV\ZTMOVXUWZVMO[bbZQKAJMNMIHHGKKLLJKNYZZOFKV]dhaUHCHJOSTQRNMPTUPQPMLSPKNPSWZSOX\ZXVQTUVUQRRQUWRIJVYVNLLLRWVUR[^ZNIGKPGFMKKSQNRUSTPNQLEEGSWNMXXSQYY`hcVLLIOROLNT\\XUVSKOOKMRUWTZ^aa`YTNQRQRYUVWXVVZXSSUPUUUSTSSNKPZ]SLRSTQRTRPPSQMPXYUPNLIGKTUVYYWTWXUUVX[]XSVSSNQTWPPNQWXTPRROLXZTWVPJPQS\cc\[\UTXVOLKQOKIMT]ef^PBNORLOOGEKLGSWWWV[YUQGJLNNPNGQY^ZMFQOKLQQRTWVVUTOVWUQQQFEPQIOTSPQRPPLMFEGMPPTSQKQQLNRTRTYWVTSU[[UUVTSRWTLOXUPJMQMNSVUVMPRSOMXUMOPSUQNPTURRT[WWSQLRW^`][XPPWSMPUUVUWYXTRQSSSKFR\VPQOPNMRNGM[_^][VVQPT\\ZWQVV\[VSOKMQTRRQLOQUVZ\YXYWRSTUSORQINXXQKLROISYVQW]eed^UEOVVOOTTMJHGJMUWQVYWQJ@P]dc`]ZWUTVVQSUVNJPRNDBQUVZYUUPFIOMJRWSTRUUVTRTUSOINUVLCFOPPMGGVWQTZ]ZQPY[TX[VJLUVSSUUQOMRYS1LYYOGPIGHBKXUTVI=LUU:@E8;ISVQORLKPTLRUOTMLQURKHPICFSUSRIKMLHHHNRQNIHMRWVX[YUNOUODIMNCMSMIMIBAA??IOPSFDJSRLHTWWOKMSQJILOQRROWTSOJNURMT]ZQNELLEFIPLHLLFEJOOTQORZY]ZPNNTVURRPTSODIQNOUSQRSTRMINMCFLLUXY\[WOMRM@CNPLORSRSYYVUUUTOONNMKHPQKHT]QPSOHNWUQORUMFGONNNQSSURRLPTSSRPORSXZRNJHHMTRPTSQVXYXROKGHPQJINTUVURNIMRKORVVX^_ZX\][SOHITYSKPSTSOKKD>GW_RNTVQZTZil[=VIWhkdVPWQOVTVLRWXWX]a^TSUVUNPXNV\\U\]WS[VTUMYYWRVVWUVZMTONSVUTVWSTXUWZWWVYUXZWVYZVVZVUYUY\WSWXZXXXYXX\WVZ[VVYYXW\XVVPTVXZZYZUWWWWVZWWYXV]XZVSZa_XUVYWTYUVWVVTTXRQLYTQUXYWYTXWXWUWZWZVXVRPW_][XTTWWZZUMOYYZVXUV`gcZXVVXXYY^\]_\WYRXWZX[ZULZ]_YZVRZTYVYVUSZVVWWPPYXROYMNKOYKFIQNGCICAGKPXSLLJLVQJEHNMMTVQSZ_\]SGKSTNKNWSQVXVWOKQQLLOPTNKNKNQNKRX\XTQSUXSIFGJNNOTQSOIAJJ@GOVXQMQUWZ[^bec\MNLJLHILQUYZWTSOROHJSXYVUWUVTTQMOLGOQPNRQVV\YY^]SLOLGEFHUSOSUNLQXRNNNPPOQRONRW[ZTTOEBHNPY\XRRTSWZV[[VQPLJQTURVXXTZZPPQWWU\[WSW[YRO[`^YROPPTPMMKJNXVRMR\bd[WNQ[[URRMMTTQWXSPNW[VRNPQLJLBCEKQQPNSPLKOSLQTSW]XMENSRMOIKZ\UKQNFGJMRYTLFMPSSUULKUTSW\ZVTVYRPJGTSLOOOQOTTSV\XLHOVUXSMKMJGONPOZUQOORTPJOUVMLMRUVYQOKOOOJMPKNWWPQTVUPGNTWVQTPJLKQUVVVSKNQJAHT_a\\SSPWTMTZ\WTVXVVUUPMMTPNQQMLMOQVRMWSMKNLRSNKIKJLQMBAPRKRWY]a`ab[TRJMQUTMV[RQPKKPY]X[ZZSJEJQXY]acd^YYZVOSUOMSUQPMNNRUVRSTQMOJFFRUWXYSOTVY\UTRUWUJ?INSVTJLWUJKWYXWLQTPSXSLKTTTWX`a[NENRJ[U[XVN#1ERZVPRP9FVVSNJ@R^aUPS[YOJLOSSMNOIEILJJNPMQSVSPHLTTPKLOORPIIJTYXY\ZSFLOPDGUSGGOKCAD?LMFHTSTPNEKRRJKRWVUQMOSRONGEIHITXZTOOVZ\^_YKBEHLONOWWQNONMMKIQROQOUVNKJLNRSRLOQRQPLRPNPORRNOONJNPMNQGNUQQLOUOMGBKPNLKPMLWXUQSQUZQHFJNNIMSQRVVKHQNF@HOTNPVVSOQJDLMPTRTMCJRQTZXTTU\_ZRKJNRUTPUTORWXWXSQJHNNPPQLNRPUSOONQPKS[`cbPEPUURMQPQSXZXWX^SOEKFS`]LIUQMPHU^a`TBMSYSPIKOTSPSUQTSa`e\UUMWWTYVVUQSWY`bbVLVNWQOY\YUY\VVZ[WTVXYXWVX[VXWZVYZVUUUVUUSVRNRPVV\\VZVSVYYXRTUXV\_W]b\VYXUTWXUSPQWXYYYWXWXVRTXZZSXRV\ZUNNTYTUXWTUTUXXYXXXYYZYXQSW\ZYSWTWU]^`^\VXWSZMYWVWZWZYZUZTRWXRVVVZ\egeZYY__ZRW]bZXXXWMWVUZXXWUY[WVVZVUZYZXZXYVZVXYXWVZWWUWYSRSXQOLEBIKKORUWZSMIFMMNGMKFCGJPPOPTUY[SRSQQOKQSKPUWWOB@DEHJMLNQVTZ^VLNUTPNLT\]\[VWWQRUTS[[SNQVSMNQPV[VTTTPRagjeYPQUVRHAIQWVUTSOPSLQVXSLMMKNORTPMLLNPONQRMMQNPVYJBCCHOTVW[WQQSTUNGCJTVSRLQPVYWZXUQQLFISPR]_XUXZ\ZXZUKD=BKUWZTUZZWVVLPSQLQW\XTUXYWTT]XMLPWXQMLKOOMRVPOW`c_XSMPRNIPSLOQPQSQRNNQUULLSTQTRKFLNRROPRQSVWLDNVQWUMKLOTQLFHT\`ZUVN@EMSRYUMJNMLNROLLUVY[UVQNJPQPOOMMOPMSTTNPTX\XTLNOSXXRPPPNQROMOSKRQNMNLKQQLMPLMRSTTXNNPQKPSOQLOPNUTSSUKHKNUTNOLJLQXWMBIVOGOW]YSPSPT[ZVRTTTSRUTNKMIEORRSVXYZVPS[VVYSKQQQQMILVZYTQPE>OQKMRSY```c^WPQNKUYXXVLMTRKEPWY[\UQGILHONS\cdaXVZWYcf_ZWTXZRMNOQPOOTSOOJNUVSWSQPNQMLRMKRNNOJIECJNNJRYVHNW]_ZVXXTRRQLEDINIKTX[VKIWS&^eeVNBLJAF@RRWXSWXMLSK@OYZSLTXTTJQZZTIMPJDIJNMRSNRSRHGIRYZNKMJJMJDJRWXVRRUSPLQTRQUTQNNPQPNORWSTY^ZVRMLLJPPMILTTPQVWWTURQQORXZ[XV[^]]\RGDKBFSUQRTKACFJNRMNPSLIPUNLJKJIRRNLSRKMSTTRMKQPMHJHEPSMKQKKLJLQSYZSPMLJKLMQPMSXUNPPRVWRMKLKLQSOPVSNPTTNIFNSQNOTVRMH@ILOUVQOLJUOQUPMLLOTUI?GQXWUKOUPMLLTSPRPMMMPUXYXVPMFEJOQPSQW[beZQPSRSNPSOQYa^SU^`QB:CSUKJR][XT9>SMR[OODUJRVcVSTPQOJLYV^^b[TNNXRTYUSV\[Z`daXXZZVWZYYUXZYYWXXYYXX]XWVZWZZW\WXVTLKTYXQRZYRVVXZ^ZWXWXZVYZTSYUTWYVYZWYVYZUSUWRQVVZTTZ\WXQRMZQYYYYW[YYZULOTRZVTTVQSYZVVYXURSXWWTTZZYUPRRYY\dc_VTYVWZXVXXXYUQTYZSOWVXYXWYbb_ZVV^ildXOV[YSOUYVZXUSTX]][XVVUXXW\\YXZVYUXVVXWQUYYZSPVYPNTTTRNRYSPRNPUQSTSMOJHMSQMFLPQPRQSTWYVRRXX[W\YQSOOVQJDAFHCEKKRUT_e]SMRTSQJLSUXZYRROPHHLVVQPPRPHJMPX]UKPQJOS]bd\QUYZVMHKQTRPSOMQTNOWVLGLQVXWURQMUX[\YTOTTLQUQQLJOLGMSTOSXVKFUZVSF@JVSYXUPKQW[VTZ\XKGPXUM[_]^ZY[[[^ZPCQ\V=:;FOLFCDOUURVSRRNNPNSWUQNPSRWWSOLPKKSSKHPUYTUSPSSRLRWRIKPPOY\YVLGJNJKMPQKJLPSTTXRJV_a[RMOPPSX\XROJHHEENRUVRSQNMONRY^ZPMMPNQPMOOPMOSSOORTUXYSJDHNRTRTRQPNMUb`V\_]WZYSGENTVSWQW]]c_\VTV^a\POORXWUV]YVZVW\\ZVUVVPVV[_VMZdifcb_[WSYY\\QRTURTY]ZYYZZ[ae`[RPMONRTYWUUTWXYZUQTTWZ[WW[VROSX\]ZUMILXZTVRQLV^_UNN[CWZDLXYMOND?S]TAGOQJMKPQTWUTIER[ZOID?BBADJTTPUTRMPXa^XSRMLMGENMHLNFCOVVNF?IJLRVNLFGSXURKSRH@FJKLSRMFLGNTQLNTSJD@ENTWQJFFORY]VLMTVPGOWVQRPSXVK@HLKJHC>BIJOSRLHOQG>FA9;=DMNKQPEHMLKMQSPVUTPU\WRSYWKENSVXUWUTNNMJLLMMOQPJHCFKEDLOUWSPNHGHGA@KMNFHOVWYNINIDHKKIFJOMHOYZPDGNILVYWUWVVSY]VPUXRJLLMLMNTX\\SHFIKNV[X]de_ZWRIIQSQYXWV[YXSM\b``aa\:CZ\vwr^WRT\TRLWTNWUXWSOMY]ZYYV\QTZYXSTOVUXY_^UYXXXVWYRWY]WSSTTUUY[^ZWWWXZZXNMRTSYWUNRUZZSQSVYXZ[ZRQVXRQVV_`XXVSTXWTX_a[VYTUMLZSYYVWZZWVYYVYWRUYZVXYXZZUVVXZ^\W^`YTWPPRSVZVVXZXUW_^a[ZVWXQVYXWWXTTXYYZWVZXYZVYXYVWWW^db\[UVY]\]ZWRUWVZYY[[WSWYYVTVUWXVVVVNZXYRUWQRSSVSVTYYWU_NAAGKRSOMHFKUQKFFJQTVRNLNSUSPPNGLNOSORVXSRUTW\^VVSPMIDFKJOVWUXMIJTUTY[[WV\ZYWWNJQVVVVRONMUSOPQRWWRJKUVPVYUSTUWYXVQKNNOIIPVWNISYXTKFLMNPU[XUNHKGHQWWOX``XTRRWTQZUMRUXYXQSLJIIMKJMKKPSVQLHHNTVYYZ]ZUWSMHGRbfid]QMKMNUUPP[XTSTQWZXYQRMKNUUST\^]^aaZRIGLQSJKUXYVNSVSYcc_ZVUQQRVXSQQST^c`YNFFJNRPKNMKKILKKBEKPUTMOTTQNKIOLKOMIFMXYSFGSYUNKRUWOHFKS[[[XWVOMORSMHMW]^^a`XRLMKJPTQNKPYZ[^\UPLKCKSQGMX[YTPTUXZYZZTNMMIHNRWTLIJIJINMMMMHPRRW\UROW^ZRJMKLU]^XMKHHKGINQPLPWUPNMKOVXZ___USXVVYXVURTYXRMMNS[[SNTVYZ^ZPNRQJIQNNYbeb`aZRFIQRQUZ[YV[\WUQRYZPOZb`\ZVRQSNRRW][Z\UW[_``Z]UCKYad^XUY[]dff_QUZXYYZYXUTVUY_a[UTSPPQYYPNVVSWY_]SLNSQW[UV_f`TRSQWZ[TCDJSUSKERRVXSRXS\aYQV?CSZRO^bX88LHKGCGLVYWSKLW[VHMKGHCBPOPTTZ\XVRZaa[VQOOQJ:;HMQPE=FJJGFLMHOUUUOLNLLJMMHDJNNNRSOQQKKHAMUROORQHIFGEDMOPQQQPOOORTPHGEFLRVTQKIKLV^YMHSVRLPZXSIQURSLNVUMJMAAORNRSRNLOO;9EJFIIKQQHQQDHQVRNFFKJHKIETYW\ZUJFGNQYVRMIKPOLJKQSPNRTSOQQONOSRKLONNUUKIOOSUWNCHLQVTOGS[YMINVWLKLEDPRQSZYRD@CIINTTKIPWZXRLORXWPSYZWTZ\b_^Zaga[ZSB?FXcbWLTXXQ^a`K6JTQJPQJ[T6BOUUJWRYSUU\WUMLTRRU_^UVWOUQYQOQOYVUWVRSROV\ZYVOXYWVXWLYWWKMUSUSSQLVWUZYYUWWWWWRQYX]VWV\[[ZWZYZWWYXVXYWSQSPXYVVYXYWVZVXWYZWY\Z]`YSOPXVVWUYXYZVUNQXWUYZTUWXVVOVOVSVQRRXXZRQYWZ^b[QPVWXXVVSTXY]WYSRTUUWXQOYWVOY]`aacfhaWX]^\W[YVYVTVXUQUVXZWWVZQRVVVPZYTW\\XZUVVWXWZTYUZXWUZXVPMHA@C8?OG>CPWWUONKQSSVZWUPV[WMILUZZXUKFSTTMLRQTJDIIHPTPMSPMPRQPQQNORVY__YOEFKGHTXZUMOKKMJKRTRSIFGMSTY[ZWOQVWTQPQIGRWRLKKV]XQROPOOSPS^aYPPLELV]\RMZ^[XXZ]ZXSMLPSONTVRTPRSUNEFT]\OLNRTWUSNLFMUXVQNNMMMHGPVRNHDMZa`ZW]^[QPPRRTROOSQNPVVSQOPR[_][XQPWXSVVSPRNNSXX]XNFLKICANRLOUTVXXVUTNNW]ZPNUQJFHJOWYYTNNMPNQQPMQZ]WSVXPLLQWZXTMKMUUTQSYWRLQWYUOQNKJPQPSWYQROLRZWXPD>FKLMPPSY[ZVTPJLLLNJEPVTMOG>EMUUVVV[[VKLGEAAHSTYXULELXYUQUWNOQPOOSVPLMNQPLLONIFJTVSOPSTSLJKQLNZ[VYVRQMOPQQJDIRTQPY[ULMQTURPRWVVWUQ\XQLOOPRT[UQPRWRN[dc\RTW[XWZYRQRX\WTNPUZVPRX^_[Z_bXTVTORXXRPY\YMPMLHLS\ZWUTXYYdjlgZPRUXKFKGIRUE@RUSPKMLTZ\WTGBFSURNKMPVYYXW[ZVPTWVW[WLEFDBIMOMQSG>@CGHR[VGTNBA=FEOIAD@[]]RJF@D3>FUWZ\ZRQQQNOMHKKJQTUPPU[YXSTURMLNMQJPRIBAINRYZVOKJPNFIQZYTTYTMPPJMNPOLLMLLRX[YWX[ZXVWUUXRNGNTWVRQIGMHAFLJCGINLJCEKRQRJNSNJQUY[YSMJNONJE<=B;FLSTYceXEADCC[WKNNGIY]ZQXRRPM>DHKMQMILOSZWWKDMSKMNHNKLMMMKIRSPSXVMIKOQQTRPIGPW\[WWVYYTOLGNQNKHCLOTTQPTPMJPQNRUVRJNRTSRRSQPPJPOHKJHKRPNKJFLOPLKIJKPQTSLHKSXUQFBBMXZWXUPPTRRQQRKIOQROKE=BGBEQVTVUUXXURMHNQMPLLJKS\`_XRIFHNRPPSPPNIKTXUUSTVULFOOKNRVUPHIMQRSOELVSB@HJJOQSNLDNUPMTRNJOQONLS\ZUQTQNHNXXQJGNNOLPVSQMLT[WQPUVYVPNWVMJUNGCELPIQY`ZC?O^WSOYgl_Q-CDIMKORUTXahjk`YNGKNOTTQKOX]\XWVPPRSPONMKINQOKKGMQLJHKMOOOKEJQY[YSMSX^YXVWI:HKTTT[fvpYOOCB=:=R]]Y\`aTOSLNKGLPWZZXWWVYYYURJPQJMOMJT^\QMUVZ[ZZ_\WRU[WWTZ[WUUWUSTRTUVOTYNHMSNCCOURMIRXUHEPRVUVXYQNPHHKOTTROPUQQUTLIMVXVSQLIFEHLLIEAHMNDELRTPKGJPRVWWTLJNSTSVXWQUTQKJMRRRPMUVVWSKGMQWYQNOJKNOKQPTXZ`ZSRRORVSOOMNMHNQPQNORVTOTXTURPJ?CINQMLRQPSOFKTTUNTZ[TLIKFKRYSSVTIHKKTZ[YVRKFKUWSNMOJIKLRTQMJTUU[UPKGKGLU[[TSTFDGPRMPY]]PDLTZY\`aa[&.90;3HNZbVMEMSPNVNRRTZSMSUXRXNRTYZTNPMKX[WSQNOWQY__aVUW\^[SX^`a^WYPYNWVWWQQXW[WXYVZ\YVVRONXZTXVV_]YYWXYVVZZVV[_WSOVZ[VZXVNLZVWSPUZ\]ZXVXVVPUXUUVYZVXURUWXXZYQRXWRRXXZYWNXQVVXVWTZ^\_aZZYU_bda\X`^WVXSVYRY[\XXXY[ZVWURMTVYUNZaile]YVTQUYYUXYWPY\XWURUVVXWZTMLURNRRY_^ZOPWUUTTZYSNRXZYULVXMKQSPQUTPOMWXVOD@FEEHIGENHFNPRTRMSSSSNUVRKLSWQTRLHGDJQWVRTQLIKMHERUVWVYXXUSSURUURMKSYUQPRVXVRSSPTSSSW]]\ZPQRPDCKX[RFCKRRPRPRQVUTHKV\[VKOOPQONME>GQWZ\\URMRXSMPXTORSVQOPTTROQTSSQPPNUUQPVYYOOQRQWWSQIKXZVJNJFDKUVW[_XUVXYVLEKTPIMSNPSX^ZRQVTXVWOISTUYZYRTWSOQRUYYVUVMJOTYVMLGNSOOVTLKJMPKDGHQXSOOQORXRGJMOUTRRTYYUQMSMNQTW[XRJISYYQFECDQRRPWTMRVXUOMQOKOWWUSRJEMVSOD@JGMUYYVROPWYVNQY^YYWWWSDENLKTWMKIMVVYZWPMNPOHLHHJQVXUTZ_\VLOOMNIMUXPGFGKLIEMRTW^\VUSMMOQNORQHKWTRY[URORSNKRNKNHKSUQPKOUTPJMGFISYZVTPMVWPTUTQSSXWPOPYVNPRQSY\\^[SQRQWYXQOTVPRY\UUXVQLTZVJFPWVX^^XSJPWWKNQQLHKHFOKEGIHGO^hid\XWVULMQSNKNUWRQRKJMPIHOPJSVYYWUPOSOMMNTUZURCCQR[YTTTXZZXWXQLNQKXXTU`ieIIJB.GMLMY\Y][ZXJHFOSQSTX]][ZZLOVVVUKNLKLQSQKSXOMR\\XY[YRNSXWTLQW[[SLLHMSYZWPKKRUV^^YROUZVMNMSPMQVVUYUVVPQPICLRTPJNRRTSSQLHHLVURRLGNQOPTSONPUXUE@KLQQJIRTPMMOPMKONLMRRQTXUGJRXXWUQSUMMONRSY]YODD=GTUXTRD>GVVOVYb_ZSMNMJKKOPNHFIMSSRVYXRMNGIGKLL>>GLPSOILS\YROTTSPJEEDIJNQTPHLPLHMUUUSSMPNOOOOKHQSSTOIFOPNNWZXYWQLMRUXXW[ZKIR[WXW\TMEGJHMVUJJHEC9H[^;AVhJBD<(KKPSPVVRVLSV_aTOTUMZVMVLOUWMXPTLVY^]XZQSZXZWNYYY[aaWPTZXZVVTRPVVWXZUXXPLPUXYZZZZVT[YZUTZXWTTRNSZYVVWW`^XXWWYYZVZVWWXY]]\ZZWUUVYRRUWTYVNQYY^][WYXZWTWYXXXXQQQUVU]]UZWY`a\ZVXY`c_Z[``VWTWVYMQZZYXVZY[_VPSVLVYYSYZ]]XWXZVUVOTUYSSYWVYZ[ZW[XSWXXPMUWWWXVVZWUUW[ZUVWZXWUXZYZXWVSVTRPPSTPMOJGJIORJEGRRQMLPJQSQSMNSTSPPV\XUVXRRTVRPMPSOJNUSMBDMNMHMQWWSV[WUNLOQVVRLLT[ZXVTWVZZRLKSVWZ\ae^SHBT[YPMORQOJOPRTQJMPRRTRSUYXOILRPMJSTNHBINQ\\YURPMJGJJMOQGHLNQOMILWZUUVVWVWYZSMRROQWOGPTLGEIPWUQNMHPWQJJX[UVWXZUOIJQONLXPNRZ]WSNLHINWVMJR[^`YQSYWSVWSTYXXQLJLPTSUOTWUPMONPUSOSQGGNLMIJIIAGQQQOKMUVTNKNQKLJFHOOKMKNONRSLKKLNQTNRJIIQSLGWhpmcVKPJD8AGJMLEKNNPVVUSUOKNMIFKKJOMKOQOLHLJPPOJHHIJHEPQMFNRMOSSMRSSMINTUSPNUUQJLSQOLSPNRWRNLPUWYVVTVYSYZ[ZSIIMTX^TLAIRWW4MQJOQNJGKX\P%P`_1+HLNMVWafTWbe`\ZVVW[VUTTTMOOUYQLVZZVXWYVXad\TXRRXVTKRZ[ZVWWYXXYUWV[\UVXWUXWVX[ZVQRSRRSZXZTSRRQUXZTTU]_^[WUZXZXZ[[[[Y[[X[^ZVZVXZXXYWUSTWZWZXXWVXUWSWXVZUTYVZSVVYVVWVSVRTZb`[\^a]ZZWUYTWXWWYXSNRY[WZXVNYYRSXV[]__]YWTLPTYZTVWVZVVTTZXZVXZZWVQSQMY\_YWSVZXZUXZVVWXVZZVZVYYWPHW\ZWY\PHJIPQRQSWUKOSXTOOMLMNMKJIQSTLPV][UVUSQPLMKOZ^[RLPRIIJMRQPKNVYSKORSTQTVVURNPV\ZUVWSPQRNHGLLKNT`lkcXLLQLMLQVTRVXXTVSMSZXSLPTVXVTWYXSOOWWPKEEJYZYWZVOGBMKNONPPLMVOJFHOQPJKQTTSMLQROTUUSWVMNNMGKKOTVVNKFGQPSW]YRMPX[TOLNTWUPWYMPWYXYUOICNY__UNXXYVOPSTKLPGLPSUQJHIKUZZYVWXTLJLOTSOPPHFQ[XOJOUSOOQNPUYTIFEHPXVOMHGHGGRXVV\[VT]]WY\WQQOLONE@LPOLEJZ^\VSNHCLSQNPVTNEFPPMOSQMJOLMKFLTTUXQNSOPLLNKUYUSUX[XQOQQNQVSNEFJNMJJEJZ_aXNKQVXWX\XQLTYUQXTOIJHE@IKKPNSWWVRRWXZUKFDOTURPPTVURLKPPOKQRONSTSTYTTVXYVFCRYVPXXYQSTWRLJLMJDFGHSYUX^XSRY_a_X[]WSOTTNROJGKQLHIGEJIFJSOPRW\\ZXVPROGCJOQQKHONOVTNJOSXbigca`_^ZOGKWXWRLEIOW^]\\ZX[XPRX^TVXXD@CADNWW[YVRSVUUSPUZYQT^\WEKTJHC2-&+A<7LXWTXYOGLQUUOGE>SQLH>:77A?HKKFEILMKLRRTUZXVROLJNLJKMSRMJIMVWPPTRUSQHCHHKVYYVWYUQOGKOJJNNIKKNNKMQMNHJIDGKNNPSOJNPLIPNOGNUVRTTQOQROKHNRMMVYXWQNGKPNNMNJ=9ELQTPUVUTRTTJEHKKOQLBFGNLCBKPQPTRNJJPOLLSVRMNYaa__WPJIGHLFDOMGJEEPXPJRPLMKGLSRQVUMQROOMB8COXXMCKNMCFSSRSVUQQSMQ[WTQPNNNOQRPHGKQRNGKSNQQPLOUXST[[Y\[RPMNRPQO\]\SE?FNJPVUAQSTUPPNKZUN6KYO5:CHJUTUTWWNQ[[c\T`XVRX^bege_XTOWVUXKQ[bbWZ[eh]ZXTVTUQSPYWVZ[]]YWLNRVYXUWWQXWVXWa`ZZTKXUVTUW[[YXNQVZXYX]^^]XTWUXXZ\[YZV^ZVXZYWWZWRRYXWVYVZUVRTVWTZLOTVYZXZXXXZVTSRUVZZSVRNXb_\W\_a]XXZWYXUY[]ZPPTXXVPTSTQSYXWYYYX\]YVVXVVXQPPSRXVWZUOQORVXSSVZZZYZXYZTWUSWVUORY\]ZWW[YVPTYVVIVTCMY_\RKNSUXUPOOF>EQWOHCBB@ELIGEINK@ELIBGTYTKKMQRPOSRPPLMMOPOKJHLPXVSKEKQOPUTRUURQPIBELNIQWYSLPPMMJWhkfVWWOOSOLVXSMQTUVWQUVRJGLRVWWWXYWZVVWQSRGJNSUUVVSQJFKLNNJQSXXYQCEOVRJIKKSWUROSOPSNSVXTUVVVRQQUSOSWPLIOTX]_^VPGTZUTUPPQSSUWQLPQPRVTPNQYdhb_XTHFQZ`^WMPJDIQTTONJIRTVUSTUUQVTQOLNND>;HX[QOUYZOOUYQRVUMPWWTQKLQTOLD@MSQX_^YUUYVQVXYVOOQWUQPNLNHT[a[WPNIFJPRKQTVQLJHHMQTSNGNRWTKKTYZZNLOOONPPJSXZVSX_]SMMIRQOOKILPMKHILGHX^XGKNQYXVYUROMRNR[ZTTVRPMORTVXY[XVQORRNKFCJQOSVQLLVW\XTGNSTVVLJHMQRVTVUUW\UJMVPLU[[WTWZXUOMOPMKOPSZYaeh`SV_hd\X\ZXVWYTLEEENRSPRSILPJMWWLOPUVV_]OKNRTPQTSOOLILPSRIIMIJNX`ghec\WLFQRRRQMQSXWWSW[[ZZTMSYWRTRPGAHJNSSSSSRVRUQKJT[`XIRZRWVMP>OQN?>:07@PUPJJJGHRWSLFAANTORUNEECHMLQQMHHOSEFPSUOOLORJDNRRNOQSOLLSXYVJIKOUWTLFMQQQURSUWTQRORTPIKIKINLQSVXVSXZRFFIIINVRJKNGJLJFNQPPLCFGNJMNLLPRONRRVTVWURQNKPUQKGFFKSUQMJINQRNJOOORMDADLNNL@AQSOQQLHGMQPMKPSUSNMOZ[VSQPMLPKJSVVPDKSXQKRQKNOONTRQUK@IQJFCBDHOTMJQVUNLILTUTRPNQQGJSQS[[SMOWTRPKHLJMUTRSPOLMNLQVTPSWXOXVOMOMKIV_e_RCCFHMOTVLEOZbfh_JV`\VUXH=@56FB<1!ahpbfSKW^WVWXUJRJT^ifbZSYSX_\YUZ[^]Z[[aa\ZUZUSSURUUUUX\\^^WVWQXXVVWSWZYVXac`XTWZYYXUZWZZWNYYZXY^`[ZWXVYXXV\^^\ZVXZZXZRNR[VPSZZVWZ_\VWUYVVXZXTUVXVZWZUU\\ZXVRX\YYVYQVZ_cc]YUXZVZWYYVX^\WVQLPWXXZYUWX[]]XRZZ^`]XVVWVZWVZXZPPRTUWRRY\XTXZW[_ZXWWWQYZWZXZURUW[YZVZVWYV\\YXNL6@XXXSQOOPRTMLNIBFUWWNMMI@IILPSPNJ:9DKNQUXUMMTWXKHHJNOPPLIRQMFFNGFIMFCCEGMSUQRVTQPLLBGPOU]_QKOMOQQR_b[XZYSLPNFKSJCDLTXVUQQLOPNPTXYZ\[\ZYVOLQSTSZ]ZYTKLONB;@JJGMV\]YOIHRXTPMORSSWVVWTTUQLSUSU\[YTPNNNMR\a^SKUTQVWTRNOSYYTNOPNPTQUSXXPRYZUUPP\ccfc[OHP[^`ZRTTVTMPNKNKHNUW[]XVSTXUMHRVPHIFHRTPQVZWVNQWTLSX[\ab]YWPVWVNKLRUPKTNRTOLOKNTURRTVXUNUWZVUNUYYXWJIPRSKNRRNUTNCFNNLNMOKTZZUNOU\\ZUPPTSTJOVWZZQRYUPGGGNOHGFMNOUPIMQQRY\VPQJMORIFBGIINMPUTVWVUMLPX[UZ_]YTSUZZQOQWY\WQVTIKPWW]UMQPMLQRJAJSVUNSNOTXTKKQOKQUVUQQQINOIHLNJLQWUV`ii_VX]^^[XUWUQRPUTWKIJMSUXYYSPEERTPKPXXSW[TLPTUSMVXVMJFEFGFILOQLMUYbdbfgcXIGKFNQUZ]\UMRTLKQXXJFKTRJJLMHMMPQUQKILSPOUNEASXZPMIEHQMRV_\XJDC80GQJTQOHJHFSULHNJDBUY[\YULIA?EIQRSPIJADOPNE<$1hfni_Umpne[XTVUY`c^VKMSRXZaea\\X^ecXW`cWTZZWRSONPTSVRYXYa``XXWYUQLRY\YZWYWVWZ[aa_^\WXZYYVU\XYY[_ZWYYYZQRWXYWYWLOTXYVWWYWYXXVSUXV]^VUYZVVR[YTSWUVYZXPPXYRZXXWY\[YXSUUY`b`\[WYZYUVVVZXYUMWWLUZZZXWVXXYZWTZ\]\aWMUW[X[WW[YVVLQSWXSZ[XQTYWWYVPNPPQWVY]YWRMNV[XVSLZ[WWZ[U_^HDEOLJJPUQQYVKOMGGMNTQVVWTOMLKUUQG>:@ILJOSQIFJLQSNNPJOUVTJMQHDKTWNDKQLKHHFQV[VRUUVUUSLNRTW]`XMPOHILJSVZXVVOIBFJIGHKHGOPOORLFEMGKSSVWTRRVSQPPQOQTX`^VTROOMHDLUXRVXYUUSTRRSSMIOVTQVZYTTVVTSWWSY\VNPLKJNPNU][VRVWTYTOMFGJTTKKRTUOIJMOONLVTSPMLILO[^`^ZTNOUY[[YUV[ZXUMLKLOIFSW[SILSRTTVXSHKIMNQNKJGMQRTRMMU\bdc`][\\WSJINSUXYSEBMVVTTLJOPOW[WWPLTVXW[WSWVZXQRW\YHESTPORKBLWWPKIISXYSOLNVX[XTLMU[\\YWSUURTWSMLINPRIMMQRTZXJJSVUSSQQLBDSWUTNIOQRMPX^YQQLH@KY[RRX[TSW[[WTTWWW]ZTQRLGQYYVSWWRJCEMONMSYSRTSTWMMPY[RFLMLQRQPHMROHCJLSUWYPXccVY\VLLWWSTYVIIU`^VKMLSRT\[W[SFNUTQOV\^TTQRUWUOKTTSQKIFKNQOMHHEMW[ZSW^aa`VGNKKPXY[XTRWVQPUZXOBGOPIEOQOMNOTUQHECGNQRQLKTWUOFDINKIJPYdSF?=>+#58;JSRTRPWRMPUROGEV\UOQOHAFLGLUTUSJ=CS[WPFGJKGGHBGRXYVTVZ\ZXVXZTPJELJIEGBEKMPLHTYWTYZ[YTPNHIKKNQLKQQMPLE;?JIJLMHHKQSTWUOLORNHKVSQSTWVTLJQSTUSQNQTTQNOHIJMOUU[WMKLOKCILPQPQTWWYVUYZSBGSTNMOL@CJMK?GKMKFIKOOMLQPTY]VSNNJEIQSOOQTQPRIKTPJMRRILWQLGAAFHKLMOLLT[^ZXZZQIWYWTW\\VORLHGIIMLIKKJJRMGIKQPLPRRUZSU]^ILXXKIOUPJNLNXWJBNTTOQXYSYVXWZ_[UXOA?IQP??9BNN@ SWJSJ\a_]V_bYffcZVLQX]YUXY[UVYWZ[ZZ[`^RMY[ZZUQNVUSQNVVV[_WXPSXVYWRORYVTNSYYZWXX[\YYUVVXY]]VWSVZWUZWYZUWZZ]YYSXXYYZ\[\[ZZY[YYWYWYWXUQZXQTWYVUYXYWWVPSTUPTTUSQUUWXWZWY[[Y]XUW]\WYVYVTYWYYVYYXYYUQVZX[a\WU_bhidVSVWYXYVZXUUOTWYUUUYYWLUWWZVUVSRVWVW[YXUMOSQMYPPUY\WVZ_`bQVTQNOQNQLN[ZLMRPMKMLPRQNRNLKONNMIJINQSMKINNPOMIQQGEEKOSPLUTLQTVTNFFMPKH?BLTVTOMVWSL;DORRWWUMPVWLFCHRZ\WSSSIBIKPJIICBOWMKPSQOFEPXTIEJPRSPPRSVOMTY[VRSYTRQUUWWSV^^ZTRSVYULMLMSUSLNTTRUUPMUTUNTYOGMVVVQQTWYTUUQQNPQSVQRRSROPRPNNJMMGKPIQJJMHIQRPW]aaZTNJTa^UKJMTXWTSWY[YTSNSTPQTVTPKOSPMSSSNGHKMRSPSSTOOPUYZXSOQY\ZTPCEOUY]VMKPQPSLCKTTU[[WUWWUWPLPUSTNKJHJSZ\VGHNMNTRPQPSMKCHNWQNKIPQPLPMORUSVW[YXVKNZ^XSRLINSRSVNGNYXJLU[VPOTUMAEQYXZVPXSKFMU\\UROLCEOUKGUVOPS[ZXTUX][USNOTRJJV_WW[ZTMMLLQVPOTYYYSUTGAR[YKBNMDLPRQOPOQJAETW]^\\[db^\]RFJWYSOTXQOUZSRQQVXYZ\ZTWUNS\XTPU\^[VYSRYWUW\VJMSPQTPTXSIGDMWZYOPRRZc^V`b[RQ\ZWWYZZWWTWXTPQWZTPYYTTSTTSNKJJPSXOLNNZXRTUSQLPPMKHU"0>FOMJHJ>9JOV\VKJKFISQJIUQGKPQFJGDGKQVYPEAKSRLMOPNE?HKNUYRNOMMMGHOUTQSVSKF?FHJPRRTRSSTMINRSUNIDDFLPQSMDINHDGKEBIOQNIIFGFIJPRRTTQMDBPPSSUTYWQPS[[XPHKTXSSQNKDHJSMLSPKJKOQQQOBJOPNKPRVZZ\XOMTSVXZTNGDEJDFONMIGCFJKOLJOZca_[VQMNTRKHLTVURKMV\\VNEDJNPNRUXVOLJSSMMSZ]XOKPRMUYVMQTXTQH;:BISPOQUSOSUOFFAGQSKKOUVOK]_THNWTOSUXUQNPWZMFCQVTWXTPKIUVV[WRWXBDEI=-;LMJZ`YPOPKXKIUY^pqg]ilc[TPRXVYRVYVRUTUQYYXTX]XRLYV\ZWKYXXXWXXYVWTNTYV\XYZWVWXVVY[WVRVZUY_]\ZYWWWYZXYZZY]YVYNOYYV[\WWZZWZY][WZUYZW[YX_ec^XWSTWWVVYWX^`\ZWRMRXWVXXPOVUQSXVXWYYYYXYYY^^^ZWWXYWZXYWVWWX[ZX``XXY^``flqscZROTSXWW[XYYZUURXWXY\ZSOXYVTXWOPVYYXVYZZUXUWZSQPVXZWWYZZWZ\XUKMWSJUWVPFKRQKGFKPTMFKMLJGLRNOSRSUVQHINNHOMFMRNMPORQJLRROQVSYWOLMONKPJKMMLGDKVVVTPTOLOXOJGNRNJGLV\^YQOGEJPJHEDGDCPUSJMPOPSOTXUIBKXXTTRPPQKFQXYRIJPRVY[YQRQNSTUTWX[YVPPPSXSNHMNHGSYNQWTJJUYQ=CLUUUSWYWUWWUTRNSYUMFJPTURQSQNMLLHFLQNREVVTZ_YSQ^baWRSY\\ODFOUSLGRZ[_^\ZXWWQX\\YNHGIE=EIKLICBFPTXYQSSPOPWWVOJNSVTWZWNLJQZWQNKLOPNJQTSMUVSUXYXSQPRRPMEDIOQRV]YSNHLUXVLNPRSIFIOQQKDJMQNFDIPWXQJLKPWVPNUTT^[SJNRUPIJFBOJDKV[WRPRVNEFOUSUROKHCBIORUTURMF=BEAAINJILRWZXX[^ZUQMORSUPSYVNVXPKNQOQVSTVXZWMNOMT]\UEISTRRTSWYUQMMEFMRYXT\a`_ab^WMLUWSVTUXUSOLMRROQWUVXQEKR[\XSOSUWRSZ[XXRFOXWMOPMFNSUUOLPOOOOKDHLMQXVU\^ZVTZ_ZVWZYWQQRTUSPTZWRSNLTXRQNRSLIPVXTQMKV[VTX[QMQNOMGMRGC5RXKLKC>BNTTN@GJQ[_bXHOVNJTTPSVRFBMOUYPKNQMQVZ\\VNPNOOMIGNSTQG@MTRNMMTQM?CMSUXYVWZ[TOD>GIIJHIJJMTX]ZTSMK>;LTRLNW[XOIFB7HQTWVQPUUQNMOPUQSUPNLTWY[VNFDKOMJIJOPMKHDIPPKGOUVY_`a\QRULJLRVWPMMPTXUONKLLKMMQSWPJNOQRTVVWSQOMJFEOTSSUQPRM@DPQQKDLXXVLOVQKGNUUOJT^a]UW_[XTMONOTNOOPLJHQNKJTWPMHNQRQPQ]ZIBXZZOV[LTRLERilhcdLQLJKgsujbXTUVRMPKXVKNYZKVQUKMX\WVNMYYVTSVVWSVYVWY[[YXYWPTZd_XXXVSNRTXWZWPUYVVW^a[XZUVXSTTSXW^WVZYPXY^ZZVVYPVVWW^\ZWVW[XXZWXZ_ZYWYWZWNZZ\\a]YZWMTWOQMTYUTSMWNYYYX]\UVVUVSW]YYVYWWXYWWVYYVYX][dbXYX_fhahkfbYRLQPNWY\YZYYZZ[[YWXVVZYWXWTZVYXXXWXVXYZPPZZVXQOX[TRXa\UQYVNTPUYXRKQNLKQWUQIFHLNPRVPIFISWVOPUUYUSLIMMMNNHOPIHFOPNMOMPRUYWX[WRVVURQJHNQRKDPVZ]YXYWTWTQQPKLROGGLS[`_TICNTMGDCEBDKTSJHKTXVOGLSOILPTTRNPNMRRMNSRPPSRSTTWRPNPPPSY[_\ZTW[Y[baVKHIDGPRJDMNNKMULHKPVVSNMPPQVUOUZWXZXVONLRQLNRRPFDKQLPSOPPGKTZ\[TKKWYVWTWXZYSMRZ^YVW^``][YWYSPQSVZPINNGFFIKMLHMNIRYWSUUW[\\XVWTRPTTSZXWLBDQSPMHIINLGLTSLKPQVXWRMMQTTTUNMKORUXUUYXPJQSNLOSVXQBINOMIKSUONH?IR[YURSNQUVNPSRRWZRGHOPHJRMJNOEGSYVOKQUQIJSRRXXSQMI@CHQZ^\TQQUUUPINGFDFHQSYWURPRWQONONMOSSPTVUONNIFJQPUUUVNGIQX\[TPPQRUYXVUVULA@JMPKNUNV_XT[[XWRLNKTWXY]^WNHIUUPQRTV^ZOOURRPPRSTUZYY\[XSVZ[YVYYPFGPQSNW]ZWOKBCCKRROOMSVXYUS\_]]ZTPJKQRRPPRVRIHLKLQQLKLSK6EWZXUPHAOYZXXEKUVPDFHKPL=2XZMFD6GQOCNTSOPXZabd\R]YRWXQOW]NCPQNRVVNGPXZ]Z][RTUMFHIHRWXVRQNSLPMJOSMDESSNIOQQYZZPLICCKORRRPQWZ\YOQQIE:HRQGDJRVOJIHGFILPSSSOLJHEKT[]^\WNHFKROIMNCDSZZTRTXRHHH?DEMQUUVVTTYXQHHHQSJJOSKFS\YWQJA=AFKMLFMSODNPKHNLGIQORY``_^\TJIMKNNKIIDGIFHQRV\XQFAADHKNEEMOMTUSOIHJPVNOMNSPLPWSRVTRNHGNWXOGV[VPRSRRPR]aZXXRTXUOKMPLTPR[WQNTYPONQKHLUZZZZYbdT7J_^[_Z\e[T@5GTSU\ePQUU]zƒwieXT\\WXPJNLNWYOLYYYQY_\[XWYYZYTQSXZRQPSU[YWVXZVPW_^WX_aYQXVXYTVUXXPNU]_\UZZWXSMQWZZWXZYXTNW\_XXYTOPPQX][UYWXZZXVZXYZ[WWTX^WVTVVUVUUVZTOTVNSVXYZXTMYRYXVWXTTXTUTUUUXVWYZYYVVUUWZURVY`aZY\]^b^chig_UVVRNU[YVTQQY\^WTWVVYX\YUPNTWWYWXRUTPVZYXRQRWUTVXZWX\[YYXQPONMTVQPUXPJJKMPOJDDHPMUSHDEJTXUOOQRLJJJEHOPTSIGFGIJKJJQNMW[Z\XVWVPNUUUPHLNNNIKRUWYVOLMVYUPPMKMRPJJNRU_^XQDLONMLEC=CKLKLJNTROHDQXXVNIOXYVTKIPQSPRRTUQNAIUYTQPRQQPTW\XOPUWQOYZXNLOPQRKDCJSWOOSUSRSV]^\YTPQWVRUWSTSSUWSOMMJMTTSOITUTTQMRSOU^QOQTROR\`XPCKVYYSNP[\YW[Z[[Z[ZZUONPUXVKKMS\XULMLLSYTQTSROOQZa[VROPSRSSTTXXPHENPKDCJKKNIHROGDEKRVUURLNQRWSTRJMORXUNTUPPRJPVVNOUSMRZXTQPRRJBAJSRTSNSXWMRROU\YUSX[WMMRNMPNJJRW[VM@@SWPINQJGMOLRSLEJLNQXXYWZZ][XTVQED;?INNUSRXcc[QPQMKJQY_^XQKINSMJKKQPMMICJRWW[W\^ZOMQRRTTWQDABJILKMS\b^NOOMNIHPX]ba[[YUNJLLOINSW[^ZPPVURNOUURV]XYWVSTW[[XTNNND=GTVYZ[OOLHIOTOMPNHHKLPTOMY^\^a_XPJPPMNQQTMLMOSOQSSLEHMBDPUOJNGGT]YYVSQVWRLIMLPSM:ERTU@.CPC?FYWNQPWYdidb\TMQVS]YVUXVOJTY]ZQQUYUUXRMLTNJQMPNLMJSPUUTRRSXXQDLU[VHMSWRSXXWSJEOVYVJBNY_ZSIJNUWULPOQRPLIKLRPOQQRMUUPMMFAAELPTSTLLD=:GLEEH@DKVYRIRVXSOSVUOOPRUXTNJMLIACIQUQBNSPDJX[UK@JQF>ITSJNTKBMVWMEMPTTTPVWSV]`[TOMKNTRPOONJEEKNKV]ZM8AKPSQDACDLVYWWUROWYURQPQLINTUQURNNKGQVYQKLXUQQOMNRSXZNOLJMUPNPHEKS[]_ZPLOVRNMQQNQOOSSXcfd`E>EQ\ZRFTRIJFJ5EQ>7VTPSXU[khUO[_WTWQROKWQSVVW]TTWYTQQ[\\ZUTTZ\WVYSUTUYUWXVWOOUWUU\\ZZZ]][]]]_[QWNXZVYYTLNOPYXWVQY]]Y[XPYXXVWWVVRLWXZ]]Z^_ZVWWYXWQTTWXXXYUMRUPRSVZ]\WYXX]XSNWYVRPPXZXXVWVXV[[ZZXZXYYYUVYTMZNOLLX\_]]]^WVV[`caYTNWZYUZWXVOZ\]YWZXUWOYZWULLXSX[ZSZPYVZZ[ZLXRSTYY[ZZVWZVVTSVOPTVI;GPNRNNE@BJNGKTZUKADLKQTRQSRPMC?>9GJMPPOOIGJKHEINPMRUSOQPWYQKOQSNKSQLOOPQNOTWUQNVWUX[WRSTNBFRQJPVZZVRPNSTSKFEED=;=FPOBELWXVUSKNSWSRPLMKLNLIHNNIHGT[ZPLSWMOQVVRNSUTOKLHGMOPQRMKDJTWXPLNSQLOTSX[[VRUYYUWWVZ[USNKMRRLIQURKQVSMPRTVWJHRXSRQOKU_b\PB7AKRTSRRW[XWTSRSQRPPMHFPVTORQZbe`WLQRSY]XQPPSRMMMFFIHJQVOQIKKQRKHKPMNKLLKMKBGPRPQONMLQSRTUTVUSVPKNQVUNJMJSXTUWSFDOTSXXTNKIFQXSTURLNSX[\YWTQSUWU[WSUTSSKKJGNVRHNSVRQPO[]JEOMJHHOUVWTSWSKHNPTRQUWVROSPJFFRTILUTMU]bXUZ][XTV[Z]YSPQSSMLNOSSNGB;DOTTVXY\YTORSRSYXYOBHILQQPU^`^UOPRQNNY\\_ffaZRMHDCBAGTYYYULMRRMNY]YTUQPQTRSVWUTUPFFJHEKMTSX[RLLNRVVRQTPMQSLKRUUVTLOV`d_XPRQPSSMHLQSTVSTQNILMJDDIKNSYUURNRWRUYWTRPLXXQJML^_W@8;EIMXX;KSMMUXWURF@KRTTTQMPVQNRPOITSPIIRXOHIPSXVVUUVVTVQMT[_[[QOOQUWRQNJOQQQSQMLBHSVYWYWVXVRGCFXagidYY^kmY8P`_ZT^XSbh\ &ITaLQ^fPXSTSOXSRRMSXRKR]]OUNWVWNVWUUXY[ZZYUYYVVWNOTWVVWYXTY`c_]\^_ZZ\_e_]VPRXYSTUZ]UNXXZYVWXWZX\\WVYYYWVY[VQVYXXZZZVXZWVMUUQOTWVZYZYVXVWZYYW[^[WYYW[VWWXVVSSOYZSVYUX]^a`[YWX\]^YYVUTNQPPSY[\YXZWWY^^[^ZZWWVSPQXVPLVUXXXZZYUZY[]WWTYUX\\Y[ZYV[YWUWTZXYWZUY_ZUUXZUVX[ZFOJ8;NZ[PTMABGELSWXVNI?FOTURMMKPRJC>DBDLLKITXTKGLOTSOQTSUOKNOQNA:JOROQUSKHNNRROHGSUVVROUX[ZYVLENWXQT]]`^YVXYZYTIDJMLGGIKMLJPRVYZYTIMPIGKLMKKPMGDJNJ?HUZWPQUURQVWWWQQSOOQSRKJLPQVTNMMQTPSPMJIJKSRPPNNJEMNSRTTYVPMGAHRRMIMVWSGT[QONRVWTGHLWTPPKO[_^WLAGJLRZXTOUXSKDMRKLLPVSJRXXVRQW[XYWUTTTRYZXTWZZODNOMOWYYVTPNGHHKPMMMPRQLIHMPKMMQSSSQFHRSPOSNORRQKHLNUWTNPPQNKRYVLHKQTRPQJQSUYZWSVVROY][SOTVTUWWVYWOILVUSWVPRVOMOONPWVUTSJNPSVSIMVSPRVXRFCMPTLJIKLNLHHQSWYWQMOTUTW[\XWXUPU\\[ZZSUYUOIQTUURLD4>HQPQXXRRTQMPRNRX\XSJIOU^\WYXYSMLKJJNOMSQOZbc[UROJOPKOUUXTTNMPRSRY_\OHFNQZZSSRTUTSOLJPSQPOPQVSOPRNQMHIMSTVYYTT^aZRPFGSbd[SPTYXXVNHUYXUWTPMKJLKLPRSVSU[USW]WOONY[UJKRVG5HNLMUPEFK@SGdcTHMMMUSQUVJDIMOUQSUVKMUODMQTNCQXVPTVTQRQPOOKHLMMNLKJHKFIMJKPIPRRRKUSOOSQHCNUSUWVSLFJPURRPGJOKIIFHMNTUWPLSUUF;EKIOTQPIA=ACIQOGA:BJKIJFIIHNPOLQLKPMMIILV\\^]ZOMONTMLOLMRWWWKJIRSQOUWYYTJIJJSTOQWUQRUTVRWRIKQSPJJPX]_[YPIRVVSPJQUOFNOVZYYXWVK?DNRLLORNQSNMROOQOOTTYUMITYQGMTUWVYXVSQRUTSXbb`WPLMQURPMPQQQPPSMFLKEJVV__[LIRPIJFJLNW`\X[dh`U\cd]BQQLPAHGCBRSS`gqbMSSWVOURUWTSXVUZZYPLVSQXSPQOVYWVZZ[XWWVPNTX[YZY]\UY`hhe^]ZUUUXZYUSNYSRSQOWa_Y`da^\YYWW\\\[YZXXXWZYWSYZZYXTSSTZXWMMSTTVXXWTWWVYRWQX^]^a\YWWWTXZXSRUY]ZUSVXVWVWX[YXLXTY``ZUUXSOPX\VUXWWYc_\]_^VZWVY[YXX\Z_\WPVTYVUQMVTVVVNSVXWXYVW[[UZZXXZWVWYVWUTRVXVWVZXXZZYXRCGSXYXSI?;ORMGR_b]WNLOTWSUSQEJJH@?DHLPPECTZQJLSYZTDKW[WUWUTRMIGIOOPOQPOROQUUTKMQSQQOX`b]TVVPLVXX_hha_ZNTVTRQTLGBHHMSSQOVYXTSQSSNKLMHKLLJHLRRQSROHFT\VNOUZZVSPUXTOQYYXQOVYRLPU[XRKPQIMIKQTOLRTUQTWZWLEGRYWQRNPRSMPUSKKNNYTLLSPNOSPQSUM?FKPUSV[`^YVQTVY\`\UTTQOKLNLHOTVTRLJT[\TGMLNRWVRMNNMSVVWXQKOWXYVUXXRNNLFMNJLPSMJJKGLQTUUUTUXWRSPTUOOSTPNPOHJSRPRVURQLHJFKUUOMIKOPOQQQVSSVRQTVTY\\YNOWURW_`VLFLLMUUTVVLIFFMOKMSZYLKJCLPRQLOTTQMPVYSOIIQPNADJNPPHBLRTVTOMNQXVTY\XVXVMLVVVX[Y\^XSNOPHHMPKEFMQMJWVQRSND?HKOROKOSTMLVYVXXUWZXQRYYRMRVVWVXY[_]XTTLOOLMQUTQRUXSQVXSYZXQUUPEJPVWUNJJMRSRVRNOLBHNMOOONNRUPTYYSZ][PQSSU[[YVV^b`][TCGUVTVZYUMLMJQQZ[VSTTRRTXSKJILOOHCIINKP\N7@OTZ^[XZag^ZQMJLHT\UUXY[Y\WROICKRSMDBE?HNMNNWXTPNQTVPIHICJPPQOMD=DKNSWUQKEMLORONNGGMLHEMQTMTXSNOKKIA=>?JPQRQKKTTQOMKJGDLQTXOKFCPUOGKMPUTJEDIRWUQUQOPTQKLMMHNTUQQTTVPMILX]]VOC8=@EHMTTRPU[_YUKLOV[ZLCNUZ[]Z[XZ^[YXWVX\XLQSPPSTVXVSPKNVVPPQKJOQWXUSMHIJLGOPONTSQVXSWXVTPQQQNOQX]a`_WUOPMRPRPNLMPU][VPQNPNNX][NPYUTTQU\\TEE@KRXWOUXcgOWWMTQ44/$&_LMc``_MITYWQQT]bZX[chh_YXTWVWYNUUUXYVWZ_\[TX[\U\\WXYZZSPU[bbYUQVX[WUWWSXPPQVZY\`a^^ZXZYYWY^`a^WYWSW\YWYVVYVZWSOYYWYVXUQUTWWYVXUWMSYZXZYYWZ^YUYYXVZZWMWYZ\]YUWZVW[WXXYUXTSVWZYWXZWTQYa`XSQVegc[WXZYWVUWYXTYZV]]WWXVXVWMNTYWPOTVWWZSRUV^ZPTYVSXXYWWZXYWUSUVWY\YWVWUYXSJPURFHRUQQWWRSNZc]SPKJHDMUXXZSLNOHDHPRRLBLRLDKVZYPF?QXWX\[ZXUVPOQSMGCHTWPQQNKNPQVZZV]daTRRVQLX[W_lnh`XWWWRROPUTPLOTWVROPVZVTSRSONTQNLQPJMSVTTVXUKIVYRQW[]_\XQRRQLOZ\RNNSWVTRQQPMLJI;?CENTURSNMNMSWXSOKHPMHLNMTUOQXYUWURSRJGJNLJNPRY]YPEDTTXYRNNNOOSS[fd[W]_YWYXUOKRUUPONNT\]QJJJIMTRLHNVVVVUPQOLSVXZRS\_XQQOHLVQHLRPKMNKOTSQSOIKNMMNSUURTUMOQVRKMSUPSUUSQFBQPFJMRRRRVSRTUTVVRQUVXXWWVTSQWb`YX[`[TX[VPT\VPKIORVZSLQQUUVSLOHIRXXUWUPGRZ\YQMJRVRMHJLQUNCGQUXXVTSSSOHPQOOSSONLKHRWWVUVTPSPGJSUSQHKLIILQU\^WJGNNMFGJU^`]SRTUZ`^XWSMR\]WYWVTWQTY]`\[]ZSJENPY^[WSPOKBCJT]]XZXUWLLRWWSIEJIMPV^\TROLKCIPSSTRTTWRTTWTRLPVWUQNRSSV[^^WTNPXUPQSTXYQSRSXWTSRSXVSRLQLGPSTLFHGMQXY]`[AJLUdfcZOU]`YKJUZ\UKS[_YSVSRSSOCPSLEDNONMFFMSUWWUNQVWTYSHNTTSXYKAGLOSKOOC?INEGLGGIIGKKG>DLLFAKRNCCEKIGKQOPNSTMKH@KQMIGIMIFJJKQTSRZ]YTOPRNKKNTTPE>:JTVOJJRXVLGOTSPMPSROOSSLKOMLLMORMILKB>AJNX[UMHEJQQTQONOMMVXXTORX[ZWSMOTYZX\YY]][YRVUQSRNOTSLIPOLRSUSMLNLOTQKMTWXOGIJKLLPX[VH>ELTPJRUYXQFEEGMKT`ec]VOSSWXVROKMPJQZ_]VONONTVYQEMTPOV\[\^ZTNSTUVURH9TZY_]V8JK9//FIJUXbjcVXVLNUJX\\Y`ijif\WVV_aYX^YXUWZ_[][VOQYZZY]ZYYVWTTW\YUXYWUVV\[ZZWYWOYVVZ^]\]\ZXWVVWZVZZ[ZVXVWYZTTXWTTLXMPVXXZ[XVWTVVZZVXXZXWWYZZVXYXVVTSWVTPQNSURZQVSOPSTW_\VTWWXZUWVXWZYXQQYZYWYW]_ef_ZYQQWXYXWYXWYVXVZ\`]WYXVYSUWVQVZ[\Y\ZVYZWWTUZUY[ZOYUWU]\^YVTZ]a\XTNMLUCSXS@ATYSEHL[WQMJDGNOQLA@KJNPPHLNG@CHNTRNPRNIKRQJLH>GHOZWKNORTOLMLLCEJQOFIPLIJNRWVVWTSIJQXRLQ[ZMRflj`XNTNOTVQX\\VTRSSVNFAEMSVXUUY\\YSVTSOMMRSUVVPOWWTPSY]^]ZWONRWY\WSSVUNRSTKFDKPOLBEMNMONNLRVYRNRVWVUSNMILNPUWTQVTUUVTRPXZZVOKPNLQSXVVWVVZXORTTJMQOU^a[[YXYZYVRNPSRQQOWYSVVVUTSMHNOLHPTTYUPOQRHHMOQMO\_XOPMHFQQIKMLDBKRPQPQPOTPHJMORVWQPMKFMTQKHNSRNQQKEADTXNBFIJNQOOQLKMTZZTU[VYQMPTZXZ]`^_c`\TVVRNUZSJGMTVYYUPDKWWZWRLNHNWYVTYSOVXVRLJQUXTNOQNNVUQPQTQUXYYWYWPKMMNLLPKLOJKMTUVWPITSH9AIINPQPE@>KQV\ZHKUVPOQQOLKLJKLQSYXOO_efa^digca`^YWNRWXXXXLKQ\^``\\VNJISXZZOMGOQTNNOKORSRVTOMOMLRJELPURPMRVWVWWMLQNQTTOOVUSTWURTZYJJKRSJ@DPNMLNILOQTVPGIKOTPIGIMPSTOPJNMNFFKSTOPSI>INGOTJ1?HOSEITNJOY[RMC:@UVPFKMNMLOSRQTNGLVVNKNOVZSNX[RKQV_b[TPWPDGMRXX[WPMMILLKGKRPJQZSJPRRV[]ddUMQXUTOKFGMSSKNQQKIIKOQTVRLNQOOPTVTRMEFKIHOTRUSNMLFMTTTOMELQLIJJLLPSVTVSMQNNVZVPPHEMPKNSZ__USSSRTNKUZVLNUVORWZVUOJEMQRNMSRMJJVX^^YMBFSYYXQIJIISVSWWQIHKKKPURXZVOKOUSMKPPLMOOQYWQIMTQJGFJKDIVdkj_VTSUXUVUPBERUNJNLMSNQTNJCKSSSPJW`ddaTKFNPXZEKKFA>LQB,KefT)BNWdkbdfj\VLNKQJYTNVQZ\XXNMPWST]]VXY\]_gc[YRQQOPXYWUWWVX[WRLUYZZYZWWY]`VUYYPT]b\WOPSWX[ZXYRTTLZTW[`c\WQSMYRWVWYVYXXWQRVZTOMUYYWRSV\]WZXYUZVWZ\Z[_ZXWUWTWU]_XVVXU\dbZPQUW[``YXXY\a]Z[YUUY[Z[VXXXYTRY\bb_]YYXW]ZZYY]]\YVYWYWWSVZ]WRYY]XZWZZ\[]a^[]]\__XYVXZXXTRQTYX[VUMRJITVZ]ZTQKTY`\RHEPPKOPJHNOPMNMQRVWTNSOMKOTXXSMKSVTNOQPFFEEFKNOOHHIMPKNRTQLOTWVSW[\[SOVSRRSNNNNQT^gooeWWVQRTRTWXTOMRX[TIHRURUVQPORLNUWS]^YUZXTNQNOW_aWHSZSKJHJMR[]YUKHHJNSUMGFHOMH@EFFRY]UOHFPWXUURTNGQ\]^XMFJLPVYYVXY[ZQJBIKRXVOLKNMOSSNOSQQVggaZRTOCOaa_a]VQQOICGQW\^TCBKRQGHNOHKMUYZXWRWZ\VTRRMKMLKNSLIJKILNT\ZWQJFQWSJGKVWSXWSLHQXWQMOTLGLRWUVSTSOOOQOLNNKLMLNVZXWSQQQNNMOMNRQXZZXZWOQVVWXZ[ZWSVXQKNNPPQKKEHMWYSQOKQ[ZPS\\UOPMQNOLLJKLPNNPZWVZZQOMRUUVTQSUUWYWZ\[XSKFKSORVUOIOZ\[URJIIHIMLKLKGKNUab[UVVQNMGJIOUQJOSTUTS^irnieghff`_YUQRKIQZ][RHRXUTY_\XUSIJQ]^[OUXY_^TMLT[]ZUROSVTSRHLNRTTQPRZ\USRMKNKDHPOJR[VV[^ZV[YQDFMUXRJIOSTSREBGQTQI?@EQQSTQURNSSIBSVQPMZ_dYELW5EN81PK% *2NWPOUOLNTWHGHKFMOIDOSMKFFJNTXPCJQNNY\VPTXX\ZTKMUSYVMMSVKMMSVVOMHJPOFLPOLXUKOUSNSPKPQR[`ZHNQTSSOOONOPJKKORNJOTOPNLJHIPJKTSMMMCILLJPUYUQRILQRQTPSKHNPNPRNECJRTOMQPLQSSSXWQLELNLMRPRSU[[SNEKLEJMDMURRY]ZVMLNNOZ]WNQNMMNS\]`^UJJNPRSRPRMDDMQXWSMPRUWVRONPIAHSUPJKKKKOSROOSQY[\XQGCKOJGO^loeZUROLPRTRGCOTTTTOOTSJHMPNQUTNRLPVXec]RPZGLRRROPJ8FNLHNQSSOJKMONHNNMQRPPQTSRSQKNVWSYWXY\WPPYeig^Z`cWRTVRRSWWNHKOPMFNMKRONPRTONWXW[\UOT[VMKHPVZ`_U[\SJNMOMPVYWPINOQUZWOKLLHG<;>IRWYWTOIFIMVVSJFLFKNX^bYIGEFIPTPMRVXUQRTRSRQRSRMKGOOMMVXY]_fnkbUPPKR[aYTVWVWSOMCGMY]ZUSUTTLADLKLVV\XXSTVZXYRMOSPJHJMNJJRNNURPPSRRJ@GQPJIHGMPSTPOOUZZSKIRTVVWKDIPUQQRLIRQKFIHLQJIQSQLMPTSMIIMNHKOSOTRPNTXZWOIOSVTTXSHKWTK@CJPOOPONQWQ@MVTW\YSKGOSKKRRRMMPSPMPQRWXSLQW^]XVTWXWPSZZ\[VN?DIOSQRRUUYYWWVRGAGMMJILNNQRQQUVTUXYVRTPQOV[THOY[TNOXjk_V]]\VTSWXQMRZVRY]ZRLOVQCQUVMOSPPPRWOKNOO[^\[STSQMHGLVX[^[UQVTWVRRXXYUTTUUQKKMQPHP\a[VUXXUPKKPQTVUQMS[]\XNGJMUUOJDCJMLUXYRIRQLMUTSRQV[\WFU^LMFNTJ<DPWSNLWQLSTPHB>HMOLCDIHB=FHDBEJC@DFNXZUBHHIPTROTWWOGKOMOUSSUSWSRPTXSOIMJMSTMOTOGLRSLIPKDMPUPOOGKLMOQURNOX]]XSUTTVSRPPPUWPNMDERQPNQPNPSSIFFCLSSTRQPRRTLIOQOPRPQSRWeibQFIJQXZZSSVJHLLOQKLMOMHUTJIJOOOPKRUTTLDQP;?CAPZcVBO<8S!4S_]T-6KVKSQVSQTUJNMXUU[a[ZYZUUTY][UXLXVYTW`]SMVQQLWRVTNLSVQRYYZWVZWUXWXWZUUUUVPTXZ\^[[VVYZRZYZYTOSXXZQPZX`a`[[WVVYVVY`b]YXUYWSVWWVVW[XOLTTSQWXYWXXX[QSXVWLTXVXVVWXVVXXUXUPMY__ZZQYY[[^]`bglieceaVTUVTUWZYVXVUQPVY_^YXVWXTXYWVW\[]ZUZY[\[VUPMRVYYZZYYYZVRWYXVXZWXXWWVYZXYVTRMNF9AM[VJLMMQURRQTWVTUNDDMVVUUJFAFOTSNJHGJKORHGEIEDIPRRNPUWSOLORPMMMLHDOXSORXTOTYVQKPSXZZZPIT^a_`cc^\WU[a^WPRPOUSKGRSQRW[UOOR[_XMOQOUUX_`\URWUVYZWZYOINRURQMSSKGPRW\\Z[[Y[__XTQQV[YVQUTMILOK@@INORNNMTZWRTVUSSPLQUVTQPMFJHJPXXY\[XSLMMGNWRU\be_]^VXa`\XVWNKPUSPS[`]SOMMKJMRQTZ[]XTRW[UNV]_YVTPOVWSRW\\TCITXZZTPUXXW\[TIFLONJS[]YRMW[\[TUSMSRMFHINUPJINNRTQHDCPWTHDQSQEGY^ZLAJLHNWYVXYTTQSW]]\YVSURVRNPTQLNSUQTNHS[XMRONOWUSQJKSUWUTSSQPPPTRQY_[SPRWXTVWWXOGHQQPRWWYVVOTTRMJTVRQQPLKGKNXTNLSWYWUQMX^ZX[\VOUXXSWX[`faXOKIFScmncVakjf]PEQ[ce^\ZWR>AJTUTTVUNGHDCNXUPNSQQPUW\[RLSXVTZ]_]ZXVYVPFMKDEMNJLHGGKOQJKSQKB>?JPVYSMLLEDPRXZUMJVZQCIQM19=HUVUTGCO^b_Q@DIKVTNJIEJUXYTHBFJFGMV[]ZNILNQYZYRPOSSLFEJSTXUTQJGHMRQOLLJENVROOPPPNCHPSVUMIJPIE?DJMJKMNRUTIFORQMDEIDKTXYXMINYWVTTWROMJJNQWUSSSPPOOSSQHHPQRPHHMOLILRWSIIPRQIBDLRODHNMHOSSSKDNVVRPSVQQWYPNKIOOKMONGAIQSSQKNKJFMXYZZXTZ\UPRXXVSQNMJTZ]XUWYXQINPWZSIMQQONMJHMRPQURNJHCMY_`]XNHLMVXY[V\]UJHNUXZYUSSQLNLMHLT\\\TFJSKMGHDBMXZMB6*9NMLQa\UMS`_ILaUP\]fdNULNNW^XVRVXWSS``TLSPUYOR^bd^UVWSUQWXXZZVUO[^a^YZW[]XZ`\YWXY]^^^^`YUYVWRPXXXUXVYVVSYXTPZXYWZ[ZSV[[XVTPUYY]_]YZTLMYWXV[^YWWWORZUPWOXWWZZXYVYYZZVYY\]XWZ]YMOV[`[XW]`\WMQWVPQVXWSTUZTVXSTYXUPXXVVXZX^`a`WZYX_^YUNPQOYZWXVTY]]ZQWWUXUZ[\^^ZUZZZ\\ZUZWZYZ^XVWYVVOQPTQLNKEOSY\ZXRVUQRW\[WVURNLLKPUSQMNOPTQRVVNQUPRVRPVWSVYVPTUVPMIN\WOLTZVMQTZXUK@@KPPQNJKRSNTOINVWXYZ]VPNTSLOSYWQHKMMQWZULIPSWXde]ke\^]`]VUVXQFKPPQZ]^^\WONLILMKEHNPLRXY]ZSJNQNSWRSV[\WSTSOOJPTUPJDOSNJRROLJKQU\\TNJKSRRVYVRXXRQXXNPQQNOMNQLOTTPNSWVR[c]UMSWZRRNLQPONMOJOQOUVUSY]ZRKLRWRWUVUXYYWVWWXSJKJKPFEPY\ZUSPTUTPKRQMKKWYVMLNNNRYb]WPPPINKABKKISXUQPRX[QQPV^^UOOLHQTTLLHMPNOPMKHMRTQUXQPRSWWQPSSTWbgb[Xbc\Y_ce_\VKHEPacaYSV\\XYa[UTVRQPX_]YVQRRQRRVVURTZ[SKLPTMHIRLOX__TMUQLKHJSW]]\[VWUSOR\^XSUYRNV[^^SRUXUKMWZYYZSTVY`a_\]UIHMLVWVYWUSUSPOGFRQPHPXXRPI;?;R^VOW\IIMNO[\UONTXTSSRNNKNNQRSQSTOJFJRXQKJSQMQSMMOPSQEBGLVVSWUUTSRSRQKHLPNPLUXRJHMQK>FKNQTMJJHEKMORTVYYPMJNOXYOFHNUUVRNGGJHGS[XMLMTTSSRNJHHKQQRTXWQNQXWSQPTSPIGKOORPNPRUQHFGCFLRQUPFMUZWRVXROTNR_a\YWZWPKHCALRROPRRT[]ZTOKUVTUWMJRUSTPLMJGMSRKKRWYVQRSSTVVTXXRMLUTPPOPKKNV\WOKMY]`XV_`_XLEFJLPUX`^YUTQQZXSGFIOMNXSADRSLSRHAOSVVQOILT][XVNLQRWSML=HH?Zg_=OXTLUVSUMUSOPKOVWW_aYPVQWYRQ_dc^XWVWUZYZWWWVTYZUX\UWY]b_ZYYa`XPVVYNOU_`a\WVXVYYUTX^[XVSWZXWYOLXVWTWWVX]\VW^\[\ZXYRZRPNY]]WUXXWXWUXWYYWTVYXZV[`^\XVVZWYYYWWXUTWX\Z[ZWXWWZZXVYWYUTUZVWWYWXXRRVXZV[[XRWZWTXWVZXVSROPUVY[UYUUNY\[XXPORWVZUYZZWYWXPVXXTVRLPXYUWZ\]XTVZXPSXVKPCFMRVZXVTUV`]OPYTLN[b]SNDLOLMHLWZ^ZMDMWXJKNIMTSVUTRFJOLHJMKFFDHQLNQKDDBCEOTQPMNOOVXUPKKSPGIJPSW]Z[]]ZROKEEIIRNHIQSUXYYSWWRKOPTPOMMJPPKKNTWVWUW[ULJHFPRONOOWZVHLMOPQPNMPOORZSKHPRPQUSURRNJRSSSQUTWSRQTNRPUTRRZ\VPTTOKNNLKMNTVW[][SUYYZ_b`S^baab_YURKQLBDJKT^bdaWKFDDRQNLNQQRYXVKHLMRWYWPPTY[TOPZ[SKCGQUTPFHKNMOMKJJOOT[_^ZORVTPXXWTRQQWYWTSOMQNG?CKNSVSORUPMVZZQPOJHGKKOMSTRQMLLOUTPOQZ[XVY\WSW[XSMU[ZXUWXTOPOJOQVVZXVTNJLQWWVTUZPMMPQNPJKOSTY][QMLOSRUNFLLKQRHJSQUVPSOQRWTOLI?AKHFOSMNPOMJKKLQOUTUV\]WPKKQRTPW_b]UW^[XZbc_[TMKKILIPRQRT]ZW\a]TPODDQYZV]`ZMLINONQRQY^[URTYYRJNMIKNORNQQMDACFQXXUPOQVXTVXXXPNX][PNUYXNJU\SJHPSOUXUSPPVabccc[WZ[ZYQRSMKY][WTUTRPTTVQOOWXZM92\cUQHC=KLRSNIHLKSPNQUUN>?KNSXTNTRLEIMQQHFRUVTWQSQQPMOOHIPVOVZUWWXTRSTTUSUZTMRSLLNQNAKOQSPIIPMIONNNJLOQVOHGRW^[NMQPLPRLKGDEORUHCEICEEJIFCDMRQPLQUQLCIPZYVOOMRRMLJNUULFFLNMKOOIJEFRVSUYYUTVWTSWSRZ_XVW[ZSMHJMQROKOUWVXZVSSUVVROOKHNSQWSFLLEGRSOEKOSPPRUQPRSQRVVRKFOQTOJJKLOWTMMPRZ][XRT_a[MLNPY[]][XSPQV\^XTRTSRQTSKGOOLQTL>FEGHIIPQTRPVOFIISW^b_ZJcSbd]:N]mkXSUJJTPWOKSRY[YYUSOTSMXLUUW\WXYRVTUUUZVRRUVY\[XYUYWWVQOX\`XKSXURRX^_\VYUUUZcaYW\XPTVZYXVUPTV]YZZWVZ^^WYUVXXXVVSVYZYYZXZTXZWWTQPNTXWWTPTTRVWUWV[\WWYYZXVWVUWW]^XZZWZVYYYUTWWSNTXVTWVPWVSUZXWY[][VWTNOXXWZ[WQPUWZVZWXRTWTUXVUVULZYPV]^[WSYYXURWZYYRWM[Y[WZXYVOMQXVYTTVXMCRY]KHC?GS\]MDS\RSX]^[XPGDBGMSVSSRNLMWVEKL=ENRRQPPMOROQSURJEDHIDKRTMEJFINTRNJLMSUWUYWQSUSOKPYYPLJPVVTLFPPOSVVOMMHEGNRSYZRHDKMTYZVQLPLJDDMSVV[`ZKC7AMVTRIKTZREEPYWQNJGHRUSQPMOJNRYZURTUPKLPOSRVUPSRRQQTPRQJNUUUSTTTOQRMMQTW]ZYVYRLRLJPX][_^WW\_^]\VPSWRJINSX_ddYMKHKRYVYXYTY\\VPAFLQSSMIMPOPLKT[]UHHNSVROKNSSRHJJFITVXWV\_\UQKPRWQPPQPLKNQWPFAGKNLMOSXVRUSPLJKQWWTNHGTVSUWWYWNPNNPRMIOPRU\cd]RSWUNJQXVTW]_ZUZWIIRPRUVVUQMPUVY[ZZYXOOIISVVUW]]UONMNLPNMMNQRRUVP@IVVLHMJOOSWZZVRNEQRGJSUSRRNOPMTSUSRPT]a`TJNQQQRSY_`[]]VSUUTUUTRPQPMIDIQPTXZZRSPTXVOFOQLQ]d_ZYYWVOLPU]XVTQSSSHE;=JNLKPMLRTTNOOSU\^[TNLNKFGLQPRSTNNTUOTUUTLCJPNQQUVUQRPQRPQUSQLMMTSQQPSRLIOPTTNPONLNTSNNPPMJIKLRRR\]WTSTOGFLKQMQQNPPQOLOSZZVNLPQGGKMMMSPXXPMSXXUWbd]WVTR[_[[Y[ZXX[ZVONQOSTVYXSNMNTTUSPJRZ[^YMUXYX^X8;SSVU`cZFSingJ7BHeaQKNSUNNMITWXMWUVTTY[XUURWQTTWPWZYRTUUVWWVUVWY^[YVYTUXTZUY\YWMYY]Z\_YWXVUUVXchdaYQOUXW]_[YX]`^\Z^a_^]WXTVVUQSXZYWYWY\]WZZXZSOOLLZMSUZUZMPZSVVZXTTYYWZXYVXXWYUXZYYXYYXZWTSNLSQU[`YVZXXVVSWYYTXV[WYZUZPTRUVXVRKVY]]WWTQTVXOMOSSRSUQRXWWVWYRTTTTVUVWROPW`a]WUZWURYPVW[K[aUGHX[TFA/CV^_TO\`^T[YSPLB=DA?KUUPPUYXVNMDFCAOQPRLOPRQOQTUSUPNF?@BEWZTNIDDOPQOSNQX]ZW\[UZXXSQX^^[XSMNS[VY\YIHZ^[LGHJHILOVXYXWRLTY[XUNINQRQJQTTTZZWRHKQSTRMFMRQDDR[[WQKJIILQPORUSQUWXVQWXUPRQQPLLIORQMJHHJNNKMTXUTUSTMMNJMXX\\_[WYVRNLNEBTcmniQSTZ_`TPRXWQJJQPV^eb\VSPQUWY]]USTUUTOIHIQPC=CJLIHHNZ[UMSQRTSPRTXYTOTTMKMOUVSUVVYTLLRRX[ZWNOSMLMMKKJQTSMSWSMQTUPLECKTVPNPTYXYRQLY_WNMKOQFDNROQSSZUNOSQJJRQMOQ\`ZSTWOCLKJV\^XWYYXST[]^^VPRVUUWVPR[YRKPPJNPOJ@CKNQSTMINRPIKICHQRWY^\\PIQQMJQRNDHPX[UTUNRRUWRWXPJHKKTRS]kl`[]\TPJMSUXXUSQNTRVWZYYTRKMTWWVQOTMEDLRX[\]]ZVOQUZYQVY^_YLIOVZUTVWXWSONSVMHTXUWUSQW[_[\]ZSOKT^^WNRQWVRW[XRQLLSTVVJEJPPSSQT[aa]VPKLQXYMJUSLISPPQIMQOPa]XVKIUe_XYSU_]YRMKB<;@ESPRPOLF>JPQKPPPNTYVKFHRSUSPLEJILKDOKBBGJ=CU[THGKNOONLKMT[VMKJMQUTSRRQONORNNRUVQKLKJLPQQQRUVRPSYYVTNKJNTSJGHOLJKKCJSMKJNRTSSLLMLIOVWOOPQHAJPRQKNUPQWXUQRPPQOKKRKEFNPMMPQRHQXZXUQQLNOUPMKFJRTRMIPTQNOVSVXUPJLNKGFAR^a][YTRSQQOOQVYQJMQUWWTTUUXTWRI;DKJNQOW[XQSSPOSX[[\\_abd_WYX[V`a\RMQOHFMVXZ[ZNOWSKKI@GKSWMBOZY\\T+ASYYUZ\_=H]dneV,@S`J"VTWWXTOT`a[YUYXU[_YQVURLMUVTY`_XTXYV_]XVUWZ\WXSRNW``VSWVORWY^cb_`YVORVWXWWWY[[XVXZXYVWUZ___ZZ]]]]\WUPRUWYWTTTV[^[YVSPTVPOTYWNLPV[[YWYWYYVU\[WVVSTTWW^^VZVUYYYXXVZZYUVVVQVNSX_^\aaY\]WYWSVVZYYSUWPRWPOTXZWZXWZY[XZX[[UONOTVTXVY`a[WZ]]ZRRYVYXVNZUXWWYVWZUVZUONTQL][\UKJENPL@JNLHKJMNX\]WNNU\[URMLSRQNMPOMQX[VTTVVWXTNKKJEFQYYRPLIGDHLRNWXQTZ\\WPPRNSZZZUIHJPTRKLIFDLSRPRRPQPSURHKMRXYX[VUX[^YTRPOOSajnlcWV\ab\XUROOHADIMUad`YSHENT]b\OEHRUTPJHKQTPEIJE<:HRWSLSROUTRNNUWPGEKPUTPLJSYVOKNLEENUX\YWTVROIJTXSEJQHFLPROUXTPMNQRVTMNUVVWSTPOX_YMNNQSPLNOSTPNMMMQVVUTXTNOPPNPPTVUOFHSZVVTSV^]XSTQUROMS\[V\XOQSVUQTSPPOOJDKJLKTSPORMIGOOIKNQWWV_`XTUSLKKOQIERXRPOKQSRPLIQUSRPMKKSYejeYOSUXSQPUY\YW\[_\RLW\\[ZYPFKOXYUWXSMRXSPVTSWUQOLNMJLPSY\TJLR]`ZVVWWSJLQUVTUXUQNONLT\_ZWW\WSSQYZWKGPVSRQXWOQRWYUSSLCINKJKRU[]`^\TVU[^^TN[\VUXTQJ@?JM=AIQUZW<7INDQXWTXVSMUYNHFEGU][X[UYVLNPXZ\WUTPPPVVVPXZWPLOPMGMRIFNMQX[TKKGADNOH<>KMKKKQTL?MTQIIOUZ^\VWWOLTZ]Y`bZH??AGMNLFLNGAOUXVQLPPUWVRNKROGJKKMHDMNRRTSTRVWTQRNMNSXWMMNUTKKNQW[YRJPZ[XSUTNSYTSTNLKLPPQOKGEGJQROL?AELOHEGNUUQSI8@RYVUOIJQXVVY[]_^][[ZWYRKJPIAGSSJW__YTRMRX]b_PONRRQKKGLJILJOPHFNSVSLNSTPQUUSQSUQNQV[YYXVSNXWROLIDFJLRWOJMMLMST^ZTHLSQNOMNNSVSPRXWTPRTWWRMMNPPMRZXSSQPMGIQRMSTVWOLNRRQTZYTQTSUVYYYXYXSWZOPTRV[WRRRRPHKOLEQ[\VVVTQQSQMLMKHHMOPUROPPSSQHCCKXOPNSWRVUUY]YOKTYY]WW[]XVX^WKUVLBCIIEMRUSUYUNHFGMYXGDLLMMNOPNPORQNIFFHNPPKQYXUUROSVSNNVUNLPVPQQGPRIIUXXUWINTQJLTYY\^]YRRSTLKINRQOOQMQQFJMHBOYVTZ\USOOPPLKOOJLLBBMSVUYYSPQTRPNHNS[XWNFJOQNU^\SSVUUROMQNNGEMTYRNSTQNPIFRTLHEHPOLGHJORTWWSLJMPU\`[OQQKUZVTTPOKPSNSSPPILU\WOFMOYXVRQPY\ZY\]\\XXVTSY`a[MEGQVNKQTMKPPPMOVTSXWRRTTOJQQRPZ`cQ@F^`US`XYO,OXMLTNR`[BJbZPVKRUbZUPSXWU_]ZWRKXNUW_]]UVVVRUYX^]VTZQVZVXW[^]WWSRTRWPRUWZ[VXVVX[Y[[URW]WWV]^[VUWUXWSVZYXUXZVWZVTYWYZXYYZWZVZ[_`WWZVVTWUZXZYXYUWVSWWZYUNPZMSYXWXYVYWXZ\[]]WXYVVZZ[]\VPKWWYWW\^^_UVVWVQRQUVWXVWVWYZYVXSXZVVPRVVYXZVX[ZWXZZZWUZXVWSVYVYVWXXZUOOVV[ZZTWUZWWUZSPKW\_]NKGCIHPWTLFMQI<;@?BJQONGLY][\UNPSYWMMQURSRVYYXTWUPFIONORRDJUYTKIMRQMQVUUUPPQMSTOHCILMQVVW\^]\YWRNVY[XURKJNNQQPSVVTROSYZXUSPOJFNQQOTRPOQUWQF?CFNPSLJQVTRRMNQTTRLFMTTQTVW\`^SLHOXVUVTFJPJJMONLKQSVWPHEKJHJPUQNKKJ?EQ^^[ND;DICKQSOJKHMRPKMRPHFIPQW__VKJRWXOB>MOOQSTRPPU[[ZQQY\YUOP_\P?DO\^]XPKOLIOXZVUNFTVOONOTZ]ZSMFLRSUTRQURNPOPPLIRTLEQIVfg[W`FD87LNOObT:Ofed\UTMSRTZXQQLWKMTZYVKO]]aYVSRNQPVQUWRU^aWOUX^XXYXVXTRVWYYYWVZXZ\^^_YSTUZ\`ZYWPPWX\ZUYVYZ[Y]_]XOX\[WVTRWUPSVZZX]Z[WZ][YUWZZVTMNYNZYZQQUYZWTPTYVRZ[ZVYZ[[YYWZ]`d]YY[\[ZSNUWVRWXZXXVXZVWdb[ZYYXZZXYXZZYQLYXVWXVUQWZV\]XRPPVUWY^a]VSWVXWNVZ\\YVY]YWWZWYZYYV_]VWZTYPRTQHCHUWOHQWPMMSLAAGHILHHQVYY[TLPW\QDGLQSSM>CMKMQSKM\]RMTWUKOTOJERPUXXXSUSNMQRNFIPSNRPRUUW[^``\VSNOWZXSSTRZ^[TRSXX[YUQUYYWQQSSNILMNQSSPRVSNKOQOENVWVXZVPTWVXWUTMFGINPQSPOSKORSPJJOHKTUTSX][UOLSTZ`]RJAORMJFKLIMQUZZX[YWRQY`b\XQPOFHNOGJMLR[\\YWXWSWV^`b_ZZXQSW\\XMEDKVZUQSXYTUUVSVWUUYWLHLPONRWOMLIHHIFLONMNMMGCJRROJJNQSQTY`_WQRVNMLLNTZZXUPPSQSTVMKOTRMOTWVWUQRSMMOOWSMPQTTPQPOSTTRLLNRRVVOKLMPPSMX]\Q@FMNJLKQPH>HSPOPSSTOLLTZLANROMMVXUMIMRVVPOWZ`[QLPXXRRQUV[YROOOPQONVZWSUXSNTPLOPMSUNNSTPKLRSSV[^ZQRXVTNOQT\[VXXZUTKFIPSWWUPNKNMJPQQJJDJRYROUZUQOQRPLNUQGANSVVRLIJKKMKJOQUPU]YRPJOQLIIJKJQONSVUVOCJPNPQWVTKMPOOOI?LSPOLNPRSSWWVTRPMONNMHIHBIQXZQJ[b[PQPIILKIIFNMCOX[@EJA@>UZZ>CA1M`YO[V[YNJURJINQ^e[OTXQIJQTOOXTQOWZYVXVQOQORVTR[\TFHJIT\YTOJLRNGONJHMY[SPRYXTQOKHPJENTTQNSVYY\^XMRVPOSSV[THIPVYUROPRND?KQSTRGCEIHNMJJJJLIIV^YSMQKGLRPQSNLLOWYRHMXVQMKNSTTPOKGDJIHGGJHCGJKQYZSQVUMPSTUVVSUUTWUPIFHSSLNPPOCIQQMHFGPRLKHKLOY_ZTPOWWSPWXWUUSSQONPX[XWXVSONPPXZRNJQSSOTUOLNTVW]Z[WTRTONI;MTVTPGIJVUYXLEKRTWTOKC>GNX\L.Gd_F@DMDK@E?:Sb[U[ejc^[\XPMJXUVXVTKTVad[TMRXWSVY\YLWTSXXWWXVYZ[WW[\[XUXZWWUX\]VXW[Z\Z[YVOVSX_`[WUPPVYYZNU[X]a\ZVVWUVYZXYVU\\ZZWXWUWVZVWZWZWX[[ZYSSVZV]WOWUSWSLOPXYSSXYWRZZZ]\UWYac^Z^[YQPLOWXVXXYXZ\XXVYV\YYW]\YZWYVSZ]_[TSTVYZWUPVYWZXZYYWUY^ccb]WVZYWWUZ]`\\WRZXXZVXY[YWYY]YZYW^TKJMANKGCIQUIOUTOEFIIOUQLKSOOOGHIT[YORRSRTLABLRNTMCMXYSOHIKKNMEFKPUQTNLOTVOKGKKHGRSOPUTQLMUWWUWTSOOVRQPUQOU\ZXXWWVXZNKQUOJLMLQQTTUPRZYMLTQPUUOKFRVVXZZVQQMGMPOQLPQORUWWWXUOGKLLMJF@QVWSY`\VVMGVULJIIZd_MGPRJMY[SHLNSUWWXRQOUQLCHRVSYWNABGHKUWTOMLMPLKIFFIRTNJLOMHFMMMNNIEBJLMUYWVW[YQOLJJONSWQLKRWVSIKPMLIIQSTSJHINONJOQPPPRQRTSJGLLKEDIGNOKLOLONKFHKJCJJTVYXUNMLNORPOWWLBOTVUXWRJNONPPORSQOSUPTXSPMPVSSSRQRPHLSQMJFOSSVRPLLQPSUUTSXY\][RTZYTONRRUSNQTQNJMTPOW\[TPOGDQYYWVWYUXNTSXYQSYYTQUPTQPQSW[ZUOIJQIF?HIMRKWcaUAM[]PGFJLRH<9ASbnj^bWVSb]WKNRX`a`ZXVXUWWRPOQYNT[ceVPNQXUYW[YSYYZWQSUS[]YWZZZ]_YUXWVOQWU]WXPTZ[WVWUYWYUWWXVWY`[WPXXVUX[XZZWVWUWVYZYSSWXVYWXV_dh\VYTW]b_ZVRVQVUXWVXVZPMPWV]\][ZYVW^`ZVYUMUVUTVWUYYVWX[ZYXZVWWWSZZXUVVVSRWZVTTZWYWX]ZXUXYYWWWZXX\\ZY[XWYZ]YTY]YRSZWXX[YZYWZWUYZXXWVVWRB7N[bb[XRRYWUQXZXUTMNVXSPPRNKPOHCRUWSLHORPKC>ELSUGHQRQKIIJMOPRQRSQQKEACGLSNGDGKEMQKMQQLKIKMOQMOPMLLKGPSSGERVWTOLLNMNSXSPMSSJMRRZTMRZYQOXYVVTRPMVUZ\ZURPSOMPQNICJTTONMRVSPIIFKOMMJGHU^^QJLLNOKPUVZZQORURSVSPTVSPSWQUVXUXWVTTVWXUYXUSTLFLUUMPQSUY\UZZXVTRQLQTRSYZ\YVPJLHEJNKQRPOPNRSQOMFMVVQOPWTRQUMOZ^]QMQVXSNTSLHLQQUQOOTYVSTTTXWZXTRUNJKRYTLAEJUWUMEFKPQX\WSUYVPQPRSTMENOQTQUWQOKJMYYWXXXUSWVURRSRK0VilZ4HONTRSNWO\cbVQPQTWVVTUWSQOLPZ``UX]^YRQXXVZZWTKRSTW]WY_d`VYYYY_ZTTX[`b[WUX[\XXVVQXVXY[ZXYXWWZVYZRWZXVYWUWZXRRXVWYXXWV\YVUZYZVZWZXYXZYWXXYVXYYYYXVSRV[_be_ZUXVYXXSUSVXZYVYSU\[XSQTXYYVYZYYXPUWZYWXXUQSSQX[[YR[dhcVSYZVUOXYVWYWXXWZZZac[XWZPRZZWYYYSLMXVWWTPWZ\\VPE9TUYVWYUZ`YNMchb[VKHQSOKRULBNQMKGNTTMMHIRTTQIMVRECDOSRNRSKLRXYQMPTSTTPGISVNHMNKGKHEJJJQUQMPVYUQNOTXTMY\XPOXSLIKJJIQ\[SRTQSTVTUXWPLTVWUXZXPLPNRZ\WVSMLTWWTQIDFHHPUWRLLTVRNMFDKMMPQMSXTMGDLROMLMNTRMOTRKPXRIOQROOJFILGNUVTQPNPPR[YWWQPNPWRPSUNOVZ[[ZZWSYYRRSUY^__`[]QNNOPPTZVRSSSX][\XQLT[YLKSTPVWUQSYTMHRVZUNNLCQWPLLNPORXWPMRYVRIQUZ]^STUXUTPGJRVVRKLHKHPQNNY]ZSIKKNOOPSW[[USQKOQNQYUNLKMQWYUTWTLGFGHPQMQ\^`]]ZZRNEONMUWWQNTXXSQMQOSVUQUTYXRFDHRWUUSQLPRQR[[\URNS]``[XWSVWRNUY\XWTKEJNQWYUVUDLWVQRVRMP]`SKMTRSTXYVTOKJSXWQOIJNUVUNPQNJHFJPUSTSUV[\ZVRRPPRVWXTLJUXUPRMMSXXTJELSTVXV\`]SMJKVWXYYXXWQHDNOJLSRRPNNUTTNGDJU[WUUTRRNJNVZVVZXYTJHIPWPC?HNJHJRUSRLNPV[``XVWZ]__RLJKeiqV/3:Z^a\KE>TTE9GWSOMQU[`^SLQ_\UTRDISWWUVWRTWOPQSQPROORPOSUPRQS[TOPLLKHLQUPSQOPPKQW[\WQNOWVPOSSNLHRX[VMJLIPVTUXYWQNROSX\\XRTVSMLMF@Q\`[QQNJHQSRPJLMEA?CKNOQLQQQNIFP_`XSPJKIRRNLMRQNSTTRSRLEJKORUWZSI^kmaYYG;EKJLOTNJUVMQUVRQPXUFLUWPIKYVTQPOLHGPOIGLRVUNNPOOQQNMUVQJLPQORMFHJLPOOLJRXWOLKQYVRUYPKJORLOSOJER]^VROOTXZWXXYUKLSVOLUROSVRPUYYRMCDJOONLLMQPMSVWQJJOOPPSUPPOKMMILQQPKGQUVOMJHMJKPUSNORJCMSUTPJHLNOSZYTPMNPQRTTTUQY^]UQPSRJNX]YWTUQSZYKMOKKOVcggb\OKRVTV][V[XQU[ZWXVUTZWLDNTOLSSOSVSGIEKOONURMUYTPPTUSRVQRSRSWOIHOT_`\XVQRQJGIMORVSUVQLIDEIQSSOIJIMMOMQT\ZUNEBLPPUYVLEAGOUWRMQVPGJMLJNNMW^a]\^UKAHOZ]SRRNS[^VJLQOUZXVRUUVTRPLQOMOSMNNSRMT^]\VPOTYXVTTNRUXVSZ\\TQOGGLQQQQRPLOYXNNV][SVYTV^^]WYUSSPOKIMSVRMSTQ[^SKJLTOSQOQYYX[\ZVWYYYZVYWPOUUMRZ[URNKMQZ[WOLS[[[\RQ\^WOUTTY\YTUYZXQMNRONRUWUTPPOPKMLIU\\USPX\[SOXYQNW\\RMJFLW[ULHCDHQZ]PBECCM\aaWNV^aji^OOOLpp[[WGFET_SQFFJX\RALTQKMTTTVXL@HQJJRQLSVYQMRMJQTONSTWWOIFACBLPTUUWYWQNGCAEMNJJPTTTQGLRWXUNNMKMJLKOPKGO[ZYPJLJNQONHHJKEMQMJLNJMNUUQPOOPSWYTNQQPRQMOTSOME::DIFKJHHOQTPEFQRPLNMJLOQSSTPGEKTKJMPRROJHHQ]``_WTPMLNTQJNTYTJJSSMHPRQLQTQLLPPHJOPOJT_b[QOSPORQX\`^^WSNNKJLOPPIKOWZXTRQSOIIISY]_YOOMPNFBHJOSSTXZXSLTWQDGGMX\TKIUWUTUTQOLSXRCFWWVVPQW]ZVPQX]d^XWW#%1I[WRPZHNWOLLOS\\TSQWKUPUWZTRTXad`^c\VLSWfcZVWXT[^ZTPYVVWUZb]XVYXYURUV[[`ZVXXSUXWXZWUZ]_]YVXZZY[^aaZUWYUUWVXXQLWWVVUSYWYYZWZVYZRUXVXZZ\\ZRRTSUXZZXVXUVPNQRW^a]WUZZZYWYWYV]caZYWYYQQSRUWVXPLPYWXVY]`X[Y\]^[YWWVYXSSXTOOTXZQWZ[XTXXY[YVUOYVWVRSQRZTTWXWZbaXZYVWYRY\^[[WZTNNTVSQOPL6Ka`]a]MDOOOTWYSKGJFMZ[YSPQKELROLORY\\ZYTLG?CD@EEAFPRRNKMJHCGLSMKONKPYTOPRRJ@;HMPWZZZWNOQNSLKMNQLOUYK4BNRUVRPDCPUYXQOTUZ^\SGOQONMMKMOVUIEKKGNNMPQIMPTOONNKLNNQUSOMMGDMMDMRQQPFJPJCFFHLVZTLLPPNKFOTUMGGIHNW[USKIJLJHOVWWYY]\WPQMJKHKQUXYZY\_[QUWQJHNYace`^YVUJOY[TTRINRXZZYVUSSJJOPJNVXOLTRNCBJQTSUURTXSEGU][TTX[XKJQVRWTTYZWVQJNNNMJMRWRRWWQNPMJINMONRRROWUONOSWSLIKNQOQTPMEGOYXSOLKUXSOUVTMHHMVYXTUXPNKRY\]WTYVNV^\SOPPSXVQSPRUQGEPVVVVVQLNUWPNKUXTQSZXUOQVVUVTPSVZ[VPLGCKRVRS[^_YVULDLOQQVTQY_^WRTSPRQNPNLLQMKQRU]`]VTTMCJURNJNRUVTNOPPTTX^[SXXVXY[WWSTXXS[]ZOLPTUTVKP[[TRUWURRQLDCFIJRUTWUTUWVXSMTUNPTPTXURXZ\^YUMMONQX]UJFJMKNSSOLEHLVVQKGHHGHPXUUW_XRUXRTXTSn]:DL>?J=.=>@@BQX<3GQXNTZXTXWVVVRSYSGMVYLAFLLLMNLQPVXLAIOQLNUXZWSQJKKGIMJLMKRWTTVSIKOUWNMRSQSVMEEKGHSQPTQNGHKONOPMNPPOVTLKJQURMLQRNPTOQUQINTUXYQJQMJNLDIMKEIHGNQTXYQLOQMFHQQRRMLNQNLIGJDEOWY]YUOLLQ[^\SRNNSSUQMJKIMJMSSOGFMMRUUWWWMJIPRVXXZ`_SGHFIJ@AS_dc[QQMJFKRRVURA;OZ]\XOKKNGFGJT]ZQQSOPHHOQNTVSPPSRMRWUPGHNNPLHLSQG>A??MPOLPUXRJNNQQTOOLIGD@=BHJPV]ZXSXYSOMPSWVNDAMVWYUKBCGKRSQY\ZZ^\UOEGPOKRTTQNRQONKPPQLLLFLSWVYOMHILRUSPKEPVTSQORW]]YB8QTVXPORWG=JQH0GASN:gcTXMTTNSSXe[TNWcdcec]WWNKVVUYUUUXWYYWYZWULOZLPRY_[YYZX[\Z^`\TUYVYUXSRXVZYVXUY[XV[\YY`cf`VNNVYXVZX[YWXXUUWUVTVOPWZXZVYVZWVTYXZ\ddZXXTUWUWWUY[YVVXWUZZZYWYTZ_[VZ]]Y^c[TWWVSUW[ZSLLUUSUXXUQWZZXXZXWZVVWWWVTTY]ZLQWUPUZYYYWXWZVRVYVZVVXXYWX\ZTZ\_[[X[WTWUUZULVOSG2HQQSNU^[KHGFMXZ\Z_ZUQOOV\[OILMKJU[XTWRAFMJGNOVUMHMSWVOOQX^[XWVUSQPFDKLNIIQNFGJKGCHU[TPQVTOSNN[c^YRU[VQSPLLRPRWWVQ\]XLMOOOMJMSRNGAGKHFSVRKLLMTXXYXYPEHSQPNPMGIMPUVWWTQUYWPKNPLACMG;?MOOTSTSTSUN=@INOTVWZVRLHGGLJFHRVSNOQSRU[[WSPTUSPPQMMPPV\QEHJOY^SQTXYYVNIJKMOPUU[`_[TYWUX\WZ[WPPQNHJPNIOQPTSQLNXYVSKONNOPMKNJEHLSONOTZYSH?ESYXRSQQWPMPX_^USNMSWMOUVTRRVPQPJLTPMFILLHHNSPIQUWSMSXYPNJJOUVXQOQRMMTWUQNQSNLMRVZ_^XQRRSTSWSNKRVYWOKGMQPKJMTURZZUSTRMRXXQOIGLOJLPRVROSVZWWVQPTYa]UPNCJTVVURQVX\]ZYQGKUYS[db]WOQYYOMLD@LX]YUVVRU[ZPKISZa\VZQQUZYSVWVPPSNSVRY\[YXUKJTZ]PKQURONPQSQOMSUTMPOSVWWVQSUSPNTXUZZXYZ_`WNURNONNMINQQTYUH;EPOJMOLTXVORRVXRPZ^`]\ZSIE?C@LPPOOW^`TMKPVPDKQQWMKM5'SXSWae\Zdd[R[ddUZQHDO]`]ZWUVYTVSNPRQOHHRVUL>TZ[XUMQQRWPJLMMPPNJDEGSXUSPRSTHCLLFJNKFKOHNNOSVTOJMOVYTHMQSNLMNKJOKMEGONJHMTUPQRIJHFB?FIOSSNFDMUVURHDJLIJLTXSMJQTVXTQLMPTQHAJLKFJQWVNLNJMNOOGLQTTXTJFJSQSTTURMNNNMSTRHLJHGFDJSZ^\QWSOONECLKIAEIKWYUMJLONRSMLJLQVVQPPQONOSNELPQTX[]`[XWTXYIIOLGGPQSPGIMLKJRLMRSNR[RLRSOPMKIPPQWPQJPQSYXRTZZNADKLGJLTTIIMILMRW[XTTSUXXWWUVYTPIGHHKNSUPKKHHLKAHMEJSVTQPH=OZ\RSTVSMPQKJIEMTWTQ[ijbLMXTLFHRXYPCEPQTZ\ZLKMSURTRXYXNLGILORMKLKPTZbd^XYZRG?>FNNQPOKGIJNSTLMMIKIGILPVWY``[TRNGINSTQLQOKRSURJMLJLQSVXWXVWRPPQOLLUPQZ_ZJPYZYUOKFJOU\ZQHM\__]^YTSU[_]SMW\UPWVYZXPNJLONOW_a`[SQMLNKILJKLQUPCFMTW[RNMUXWVWTPPNBKS[\[YWRXYQLNPXWYXOEIKV[ZTRQPOORWZ[WTVWNKRWTRXYLEPSU[ZYXPNQRMIJPNIKTUTSXYUKJLNTYTKNTVWWUTNPRMLOSYTIQVWUQRUWYUSLCCOUNJMRRQQQPQSVSQNP[aaWRLKPUOGLJIIKPTPVUNQTQFN[\\\VTZYMAIMJKJTRHQXWWWTJJIIMPSTXVSTPPOSXWQORTNX^\\[XTSPOUYXRMSUSVXVTRUSTUYYVSUSSNOOMUYQIOSPMRVTTWadZFEGOPMLMOUYUOUZTPOSQILNGIUUUWUYYOLRVY^a_WNJEFLWWNLMLRZZWWQUQOH@LUW3+,CTRR\UOSX`aSGQWRRQXVRMUWZXWXG;RSMMGKOKB=IRVRLMQIJLQWYSROQVTNRPGFHIEFQTSPILMMFFFGNSPHJOONSTPPRMMLLNPQNPSRQSPIBEOWVURTVYWSMQKIPPOKHKOKPQMNNLGGJKPPPLKOORTURMIGKS[XTQTOKNNJLKOUPHPYXTTSSUVWPFMWWUSROMOKLKHNSPMOSUPNMSTQQQMLNQPPUUSRTQHIMVYSGDJGMR\\WGEHOUSRMKUWTNJKJLMLOPJ@JTSQU[`^ZTPP\a[UXWJIMRTTNMHLNTSSTYZQIPKGIOJHHLKNNQXZJILLQUUUVW][TNLJBFJKNPUD9DBJRDA JQOQYbY[YSWWQTZUUMMOX\aUWXSRJQORV[_YWYWNXW[\\XQXWWRNVX^_`ab_YZXURUSUWZZWXWVZX\\^[_a^``]YZWZZXYZXUTPTVW]_[YUYZWWVY\ZXWUUXSSQSYWSZXTQZXZZ_`[XLNTVVXPLOV_a]XWZ`ca\VWX`YYVYURQWZWY[WRPLQSYWQTZYVYZYSTUNSWYWVZ]^b]Y`aZXWX[^^VORRVXWZXWRRRSTVZY^`[XWVSWY]ZYZYWZVYZ]POQYXZ[`_VRROVXX]a\KV_ZU\]WMMLKJOPQTTONSTROFNNJNNLRVMMRWZYQSNLRSQPVTSONTYWVQQLGKMELLHMPPOLRMGLMIMRXTPONRQONOTNOOQYktr_PQKEJLOTY[LIRV[_]SPJMUSJMU\^XTQLLOMRUPMHKQSW[XVXYYTIHHKKKKNPORNFNRRMOLTVTSOMSVWUWSQPQMLQRSPLPQRUYWTTURRONRXZTUWWOINMNSUTOIFRRPV^ZURNELNLUXTIHHR[Y]fdaWV\`\OPZ\VRQVWXRNPQOQSOUX_a\VOLJHOPSLKMQVPHJFJTZZOOLPY[VRTOKNNRT]^]WOPRNNKDJPNKJPQSTWWSSSPOOLQYXWUVWNHPRNAKQOGJILRUUQOQUOGHNPLFCLNFJPXSVQHLRRMOFQWXVTVSUXZXRTXVPMPPMNRZ\\WRRPNKWYTKJMSTQLLQUYVTRNOYZTPRNSSOMQQNKQRTQTURSROJITZ`]XNPOKLRTQEMQSKXVQV]XRPHGKPTUUUXYRSPMRQMHLRVW^]RSOOQV[[YTNMLRQUWXYSUWUW]aa```ZMFELRQKAIOLLQRLNX]_YMFDHJHJQX\\YVUPIIONKCGOKKNRSLLT[YVTNMX[TOGJIQX[ZUPONQPKUZ\TJRULLQP17A$,DHH@[^YX]XK?IEOLKEHKIT][TMNJHHMMMOVW[[WVRPONNTOPPJGFOPQMJKIFFJADQVZTPMQNIINQTQPRKEFKNUURWRIQTQQRTSUUPPKFDEMNQTUPPXYSKNNHJJJGHNRURRJQZUOKKIELNG@HLKNOSQQOJRQUSQPOPNGTUNPY^XVVXWWTIKNSQOPXZXSMQXYRJGMNRRNSUXSONPRNHMOOQUPJGIMNSSQHJTVOJIJIGNRWSJDDNURQJGQ[ZVOORQLLJCD;CKORX\\XRUPOV\\XUTLJLNKIRSNF@JPQ\`[RKMLMRQRE;EQY]ZSPKFDFNMQQVYVVQPSI@MK3FOJBKSUNIELQRTQROPILJTZ[YVNRUOMTUNKHKRRKNUXQLHJQTTRPQVYVPIEHECPTXTUSVWWRRPKGPRQQJ@GKKOROX[[[SJJPXVQSNLOOMMPNTXTMNTQUWKA>AKNKJQORUVVSRZ[\ZZUROOQPNORSX[RNSXUTY]ZWULIBKWZYWTRSVQPJHMNIV\\UOI@BKTSSRXUT[[USTQLOKKRVTOOXWVRNMXSPVXaYLFS`aKAGFKPTUSUUPNOX\WKMOPPRZ]XOFLLSXRSSONSPGCDD@AIJFA:ITUSORRTTYUVZXYRTYfqn]GLSVUVOMSQHCCNORIJSUI?FNZa^OHPZZNDFKQOTXULRXZUTRTQMLJKNCDB@AIONRRQV[VRSLINQNNMRPKGKPGAMPOOI@FLOXXUOPSVVSRPFGIDJTTWVTMQZ[[XYbc`^WXNNPNNNSWRUVZ_caUKPMQYYX[YWLLHC@KXXONT\ZSSWWVXWTRQNNG=OWYSPQUUTSZ\]TTSUROQUSLJOUTXYPPNNOTSTUTOGLRWZWQROIIOOXXRLUVQLNPRWWSQ[WMNOMQRVTUUSOW^ZTRLJOQYYXVQRWSQTRTYVUPSXWUVTSOGEMVYYXTMOW\WTRRORRTZXSQLQSQLSVVTSQQXZZSVZ[XMKJW^`\QLPWWSOW]be`]XYQHRST[`baa]`^Z_\PPONLS[VO]hbNDDQSUONQRTPU\\VUYTFINRSUV[WXUPORXRMQY]ZWZ]YQQVVTTTTSROQSMILIHRUTRYYUODGOWTSTQLIOSSSNQY^YRUWYUSPPSVSJHMQW[\[^[QQOGHNUQIGGJOSMJKSRNQVRI?=BNWVUYYXXSQKDJKBMWYQ`c\XFPY[]ZYUPICEP\`ZTRLLNDFKKLOQSW\[PQTPLNQWSPNKJJDHJIPVXSKQSPNQUSSUQJKQPSPB:JURLMLHFGOORYYVLKQMJQQVQVZTCCEFPQRNPNLSTVONQRPQSSVZYSKKPMEOUSMNMNNPJKMTSRNGJNROQOMNTVSPTP>DLKRRRTYZXSPPQXYSPOQUWNKPTUZYXVRNQ[\XWPOSPMLIJLPVQUOTW[UQQRTWSVZXXWXVTX_b]ZRKKJLUWULJLSUOJQTRPSRNGLIDCELOW\^XWTRPJILNNLSMCHLLEMRZXYRUX\]SOTORRTM?GY^]XVUUYd^N\`]Yca`MV_S7N]_glg]YPTI]gpd\VMJLUJTOZ[UKU]`Z^TRTXX\`RTXUUSXUYPLWPWW[WYX\[XV[YVVVXURQRVYYW[^ZWVVVVWQPOLW]^ZOLNWZSTPTW^ZVWWSWVYOVZY]^\YX[YUTVXTSWYWZXVWTSYWXPQRQXVWW]`YXYY\\YVWUYOUTSZYZ_\ZUTRX^XRPWX\WZWXRPSYVVWRXYTRUYZWOMWMNRRQPTYY[WXZ^XXWVYXWVMRZVOTTPRRVXXXWUYYVTQMSSZXUWW\][VWIKM8MY\QTOLRU\ZUQU]\RNLNEKNMTXWRMMSV^^YPSVPFCFC?LSOHJQROQZ\SJMSLOVZXUPRUSRURPVOHJOKINLCBQSSLHLRQONKOMOPSUSVY]ZU^ll`MIMNPNORSOOQSSRRPQVTQM@JW^ZONQTVURJMPLJTVKLUPMPVUPHFLLNJPNGBHLNMSTSUQVWPQW[XVRRQK>CLMHLPRQOIJJENUWQTUXYYVRHINPUZXXXSLIPUYUV_b^XXV]XQLMNLPOQQNU_a[ROOJQLSZ]]]ZSKIIQUQPRNFEQ][ZXYWTKHK@?LRRTRONLRUZYQLOUZZNMRXVNRTPORKFNV\XUXXY[VTKOSRNRNIGONLNNRSRRWWPTVYQLQVQNPPQW]YZVSFGTWSPNPRUWYYXPSVRW^ZWOSMLLYZSKSXZWTVSYZYWQW^ZRQSNJNNRXWSKKSVTRRWRQQQROMLTW\XRNJIORVZVNRVXWRV[Z\\YONOOIA>ITZ_^]a^XVXRQPLJRaaXS\]Z__ZWQEDLRROOV[\`^VQOUWZWUYXWSQPXZ\TPRSXZZ[YQOVY[WWSVTLT^VJJNRSSMR``XRMJNTSTPOMGRVWUQIPV]]YXQMKOPRRQPNSU\`_[VQPUTOMLRPOJDJPSNOQVQBPY[VQNJSY]]\\[^WMIJRSJCZabbhkgVRYZ]Z\`^PNIW^VQQTQLKH>A85IMPOQTN=;D>CNQRLKJNWWOJOOMKJKKKOTNJRVXUPQNIKQW[ZROMLNPV\\VWSHHPXYZTJBHINSVVQQQRPNQQVRLHTVLTVQOUXUOVYTTUPLOPNIJOQZYPMUYZVRLNTMLVVOMMRYWVSLHQTUSTWVOJNPONNSPMJMQUUSRRUVRSPHKEANWVQR[XJNRVWQNTSKW\ZJ=B:ML9[aTHOMB\MNIPTQSIPVP[c_UKMXXUQ\cXRVVUdaY]_TMKWVYYVVY^b[SNTQUZ^c[WVWU]^]YYXYWXXWUVTUWSYYZ[YWVYVONPUUVVORV^_]Y_^VVWZ[XV\\VW]ZZSRSVWX_b][YYXWRYLTRQUZ]aa]aff`WX[[[YWTTVUXYYVZYWXORUUXUYZYUXRNQSVVZXVYSRLZQSXUSZZ[TMMOPTWWXZSVX\XZUZYSPWZZZYZWYVRLMTVQMMTZUOWYZWSOQUSYVGJOF?B?QOQSNYWVVYWLALNOJIIV[XSJVdfXSTRSRPOTRMKMRNMPNFKPPNNRROKOJDEAFKZ_XVQVXSMJJ@CNGINQUQMLLKOQRUTOLNIIPWZQPRSVYZVLD@FMT[\XOOSSQLKTVMHLTVWTOIIMFAGGDT]WNKNTUWPFU]WSSQQIEFIJGRSNIJHHTYSJELVXMKSY]\YLLORRX[WZ][UTSRTMIJQGIVSA>HKIKNKPRQQNOQPNORWTS]ac`YTTX`db[XSQSWXWVVUZ[UMHPMORQSVWYWZVRGKTYUUSPPOIGINPMNKJOUPNOLMQUXUMGFLTVRMGPTUPOTROJMZ`\RQTPSUWUMRXTVYZTNPSXXOKM[`]TSQUZ\TDFPTMSRY_^^^]WXXSTOHKLQTQW[[`]RKMNXZURNKNVXRCGVZTRRUVY[\YPPSKEFINKKSTRIFHGFJOPSXXUQVYWX\YTVVSORWX^a[UZ\[XZTMMSZWSSPKOTVXXWTT\`[QRV\^ZYbf_QJTY\WVUUY]c`WLOTZYTLITVSLORTXXRVURRJLMVWSRTTOQXRCHSWSSSUTVUPMVXYSSSRQLMUTQPSSRPTWUVZ\[]ZRQSYWTSPNNOY]\QPSQSV[]_baNMUZYSJOPLMOLSZbdb\W^\SKIU^^WPJDLPOJRWTUSLEFETLX_`TZ^[WM[_YVWXUNHDKOOMLKGJMPMFJPNHAFIGHIPOMJDDGNNOLMPQNKLNPSSMKOMLOKLNIACGHPPNPVQIGFHKLEAHSUVOSVTNRTJHKLG>FE7CQZUPQPNRRGELTRIEHJGGQYZTOPOMINRNKLPOILNLKMOROQRVYWLDLTWUSQQSUUMNQRVWOQTMIJNNJIQSRWURXWRKLQIQXZZWUMNPSWTTRPPTZ\[TOTSOSQIHSVVTTRFKROKWURTVXWSIJKMIGRVX[YRPQKOXZSQPMMMSPKRUPJIKOVSMUWRJPQMPMMMPSLKPVV[]VNPOMMQWZQSWTO^faZXUJKIRO<3KGS]WVM(&8<WVUWPJWQSQWX\]`WXSXVS\b_b_U[XYY^aXWUPVULPLRXYVPTTYOPV]VVV\X^_YYWU\[WZ[WVXa`XVZ[[ZUWXZWUQMPQTUXZZZYQV^ZSSW[WZYWV]^YWWRRYZY\^[YXXYWWUNVVVXWYabbcfeaV[_YYRPSSYVYWVZ\WRUZTTQLU[[YZVZOSRTUXVU][XWY]VZVVVWTOPQRSSYWXXYYXXXSU[\ROWZUXVXXYWPQLQTQOXLTWVX[XZYVTTTVWUQ87=?AO\PQZ_^a[^^YURKQQLJV[YQPTa_WIJLOVWW_\RPZZPKQNKHORVXSSMKHIKJJHKS[WRU]bYSRSPURQRIKOLJJHMRRUTOMKQQNOLRPQSPSZUQKKJKIMKSRSTUXSQNU\WPJNSTWRJNVREMQLQYXUPSUTWTKQYYXXY[WNOKGFIPPLBELNTMMK@DLKJPWZ_\ZUVQOTTWWZVSRVUOOJGKGITVQNPMHKMFJUTTRPQPPRV[TLOWcdb][W\c^VNMJMOOPNRYYWTQNKIPUMKSXZ^ce]UMJRSWZULGLPQOMILUTWVTLPJJJNSTQJFHOOOOJKKIMMPNGDLW_]WSVRORTTQSXST[\RINRW\[XLKVTFJMMRPMIEOTWMKNWUWWSRUXVRLEFHOPNTWZWYVQLT`__YXXWUWTKKRYTY]ZURRPVZPKFLRSOKLKSUOKLMJLRVVWW`_XSURQSSTURJKT[]YYYWX\[^`\TPW_]URQLKMNZ\\VWXWQINY`a[VZ]XQMNTVUY][Y^c^YTUSWXXTMMSLLPSTVXWTWWWSPSZ`VOQSQNMLHGLPMNKILLGFLLTXWTTXWLMZ\[XYUOT[\YY]`^\YTUWWUNJPOORU^_XRTSSZ\VT]a_VQRVVU[XQMLOSTS^\ZWchibZTWVORV[Z[VMOOMKQWNBHX_]JFKSWTTX\[VUNQPRSRJ?BAGGG9=IMNMNE=@@;@IIED@GHGQRMKLHHHKJGJLJJIFITWPLG@>HE?KRNORMGIGDFGCGORTTTOPPKKJFHLMMKGFKPPMKJSWRLIIEHKHEIKNMHLPPQLHJMKKPSOKJOQVTNHIOOORWWXUOGHMQQLMLMTTTOKDINNMKDCFMNJOPPOTRRWWRDHLJDIQQRKINRZ]UPNPQT[[\SPYXUXUMKMTXVVOILWLIRVMQW\[VPGAFMNSRQNOVVUOKU[ZWTQMOWYWYWNGMOTWTMS]VPRTTQSPQRVPPQSS[ac__^YRMRY]TMLKYc\MEFCEMSTP[lfc^^a\OW^bcDKU[JOSIOXPRW`hf_OSUWOXVUZZ^ah_[YWLMNSTY\XYVYYNYYUWVYUWV[WZWWZVUXXZ[UWUUTY^`[XXWVUXVRPZZYYXYZXVY\^`ZWZ\XYX\[ZZVTWXPLOPRWXYYSWXXWWZWYWWVZYVUYZYYZZ\WVYYPRTQVUVYWZZ_XVYXZWVWYVYXTXURTYVXWSV[VW[caZXTXWZYQOZLPPSTXX_\XVZYWYYWMRZXWWWYZVSWQRMSWYSOTWXYVSYUVWXQTUT;:CES\dUUTVSY_\Z`\UJSTMPT\[KNVWUKCIH@BMZ\]UT\YROJKEIHHKRXYUPLILLKTUVXVMOX\XKOUWVSVTKEPRSSPJINNJCDNPUQA:BCIMNSTTMNPURQMGFLPSXXWRMSZ]VQTTOPPMPVWPSTTOOOMMLLDGMPPXWTUUVVNOPLIHMPLC@@IKJKJACDNQVUVUSNQTQKINHFFKMQTTRRMIRTT\_ZVQSTPJHGOSQQSUQPUYVSNQVW\WUUSTWSQMMQVXXPCKTZXWVRMMSTQJPXXZ`^YZSKIKQ[]WRVTONLIFSWY[TSXUNKMTUTUVNNSYXPIEINJKGEIILUVQQRMKKJKJPWRRVSHGMLGOUVVRQLHMRSRQONILRONIJLPTXUVY[ZVUMHHLLKXVRRUZWOLUWRRUVWQNPOJMKQZ``YPKIOW[[PKQVXTQSUTXWWVWUVPQQU[_XROXWVLPXTRORYZUEQ]\SPYZUQIQXYQRQDGJOXYWVWXTJGS_cc[RPU\ZTNNQX`_^VZ`]YUPSW\\YRIGCLYZTOMTZXXXURQWUMDNTVXWWUTUXULKHHIFGJRVVQPRWYWQPRTWVSKKUWPQW\[UYYUUYYXTXUURIJTSKNPU[XSUTWXVPPUX]aZXZY\[VNQRRY\acc[WTL@MUY\XSMGUXSMVK@OTU]O,/;EFLZc^[\ZRIILPMMUWLBABCJQQSPJA@;?KRPBIHKLKMTLDFCA<:?>DGKKGDNXXTNNIISQ>CKKIPQIHLMMKIJOMORSJLVUMLLMNTOGAGKQH?>IRUOJIMQMQPKJPRYWLJLMNLILGDMVTQTRLOQNKJLJJQTYXSLFAHKIBFQUY[YTMNKHFKMKIJKJILNLMMKQSOJKMQOTLJIJHPSQT\]\[WUUVUQMQUVTYUICKPS[\VSYXVOJRTRNOSUUSSKMMOPORPRUMKE?KRPRTRQRQLPOJNSTUTPNRWQQ\ZUQLKORVZXZTPPZZYRQJHIJMUWVRNNUZNOI@IMRLTefiSRONW[_bcjUPWWQSIQWSTMR^ebXXUUOVRTTOOTb`ZVX[VRTZX[\XPWWSZLYTUWXYWb]XUWZYWV\]`WSUTXVVYWVXXUSYWWQXKPTX]YVWV_a`[[XZVXUX[^]YZVYVVPLTYUPOWNXXYWWZZVXQQYXXNTXWVSPWXUXXZYSTVVYVSNRXYWXZYVUWVXVYXVSYZWWUUQVVTRYVYUVTYW\YZZXNNVYYUTUZQV\`\YXYVZSWVYZYVZZVWSRYYSLYPLLUYWRQTYWXWZW,>KO1PaYQRNNP[[[_\XZ][VOYcg^QLJKG=BGCHPVYZXUXTVUQMJCRQFGMP<7>OLNNVJRRJ]e]VWTWYWQKLWKXXXUOUX\YUW^\[[`_WQSZVZ[ZWYYV\`WXXUYXYT^`]WX[YYUVUUUUYWTZ][YVWSY^^ZVW]b^ZWYWYUTUVYUUXWWZVYQY[ZVXPUZXTTQXZPVXWX\\UZ[[[URSXXZXYYVUYYUQOUW\VWXXWXYVUUUUWYWY_\QYXOTYTRQVUYZWVXVVYZZYNURWWVYWYUSZYQRVXVSRYZRMTWXVWRYRQVXRSSMZVPZOOMSURLMNNUSFKKJTXWV[TT[_VPUZba\Q[]]XIBKNEDI>APTV\][^a[TTTSPLMPVTFFEJNQRLMOTXZYTVXRLNJGMORSQHKSYZSONQSTY\[YRNOHFJLINYWQIQQMNTXXNM\``\[UTUY[UPNJT\\VUPOTWULKLV[POLHGQSOOSSRUSKPYWPKNOICDHNPOLJLQSWVRIPQVXSJEGIHJGGGEBJHHHLE@KQQUURRSRQUOJLLQNFNXTWZZYTRNTRTPLRPVZ[TJFDDY\UQTWTTV]^ZZ]]TSQCFQSSQIP][VLR^c_XUQMFJKHMOLKGIHJNVUSVYUPRQQNGGKRZYWVXVMKPPQVYSSUVTRSXSOPUYVPQUZZRLHGFSVN=JJJOXXLDMQU\\ZNJOQRXYXNJENQMPYUOS\]WVY__TONTUVWYXLDIBCRUSKMKVVPMPPY\YWQOLIQ\_^WUOTVYYUQMRWVWX^_XSTPKPNJPWTQW\^aaZ\^\TVZSOOPTX[Z^``YUTWOGTUWUQUVTMLLONTQMLMVXUKNRXVJNRTT]VLLPPSHGCHNKJR[ZZUWVVRQMQRNADLOJLPTVTMNMLMMOPKGRLCOX[UKPUWRJFNOMPRPNNJLKKNFISPLPWVVVTOOTURPQPLOVXMDHIMRNLIMPJKOQQJECNWWTMHCBQVVLDKGLW\ORPDKZZPERS`d[VKPWYSOJTVSMO\_PRUQMRTQOOTWQOQUPZ`[UKOTVRGOPQX[YYYXWUNMSRMLNUXOT`]ZSTSOLKJNNORRNA:DKTZRSXQMUWST\^[QIHOKPQR]^XSXTQQUSJC?HUTLJQRPTTNMPPSSVVQPKGJGIINNIEJRWVSURPJPQRRTPMTUQQQSQQVZ^]VMLPSXWVTPMIHMNGLQQRPPQSOKQVTTZWTX[WOUOIGKPRKONFNNPRRLLNSSLAUYRKYd_]bZ\`XTQ>NTRNNUOSWXYXOHLCBGOTTPOYbaSKTWQRXYYRJCFLT[SEJ[]WYXXUWUOTRFGOURLPONX[XRPUYXVUSUSOQSNLOQQPK?9GNLHLSPKQY]ZZZYSPTWPPMKW^ZTNKNRTLKOSWYZUOD>HLFKWSKRWSW``VGPVRNOQQJGHDINVTQMOTSOMMI=@HJMQQPKJKG@DFFHMLLW^YURKHNMKFGLNNRTNNSTRVZUINTTX\[SQNIGLKMRRNRTNJNPV\\\`^^[VRPUTWYQSZXYUW\_[WWYWPMNOTTLIDINPLPNLUZXWWVURKLJKPXTQQPORZ`\\[YY[XSTVVRRSV[]WQPKNLJQVPIMHHLLGMVVSHFKRY[VJLVVWY\^YUNHMGOZXQR\^]\XZ^XNPURMLLMHILLGHNIIPMNY[KILQWUWXXTOU__YSFHQQOTSTTPQ[ZXZYZ\ZZVYXYURORUUU\XONQONOSRQQPRTUX]^[_[VSQNMMLSXZYUUTONNTVQRW]_ZWOTUTRPQS[_[V]XGENSKJRVUWXXTRX\ZSNPSQMGDNWVQTYVOPNHQVRTSQPRRINVXVUVSQTQPTTMSVXZ[WQJJNMNUPOUUVXXXQPSZZVQF@ASZTLORRNJNQSYTPRUWUOKRVTOGJPNR\VNFMQLNUVTSAFUWIHHKLLOJMRTQIPTW^ZPOXTFGYZQH@FMQMNNNWUOOSVRLIKLCEMSWSOWWTQLPSMFIJOSQLKOOKCBHKNTSQRXYRLLEAGLNHCEKQPEIPQMOVYNLRUY`b]SRQMNRQNSUQSLBCENQTV][WRPKLOTZ\YXYTSWTW[WNOYXOLJCKNLTWURTQPSSUUUU___]\UQOIMTLHFEO`daTSNRSPOPQPOOUYZVQRTRVYXYVSMOQRQCBLSVUPGEIQQGEESVQTXY]]YQFBHSVPQWZ[]YWTTMOXYVQLPOLSSTRSKFKTY\_aRPSXW[]]UMPZ\YQHFMTUOKILNW`^QMPX]a\VTSSPNMVWOJLNLQPPSRPLIINOMMQ^]YY[\]\XVTIDHLHP\\UWWYXTRSYYTUQRQRSUSQUZZVVUKNRUPDHNMNNQRMQUPNSXXVWXSSTTUNWWWVSOPXWVWRMRUWZ`WKLLRTSX[[WUYVUZWSQNMNOTYZX^YQMQTTLMSXVQLIKMXXTTSUXSKKPTPIJQQOTTURLKNTWTOSTYSRRRRYVOWKHAB@BKU\XNLSWQNJLOVZ\YUJCFQ\_ULILSQJELQUUNRKCLIKMOOPPRQNRIBBDFLKGONPRTQSRQQIKOSOEKPQQOMIMWWVTWVQNGKRQSTPDIWZZVQNMUZ[[ZXSRONJCGFBGQUWXYVRRVTONJMRVSOPQRRNLONQVSSRSPVVQRNOUTONLJMRRNMPTVOORPTVWUKJNPRWTSQNPX^ZKIONMSTRSSIBFKTUSUVWURJKOOQYUMEHMIJRRUPKOLLKHOSRPMHJEGPTSUUOOTRNFFLRURNKKHHPVVRLQYYUVVUSHABHJQSPOOKNKGJOYZUURMRZZOCHYYURSULOS_eRFDE?3FGUZVGSP^kbbLPIP\^bag`XRMSKRZUW\XMSRYWQQRW[[UXVbYXc`ZYZ[XZ[[W[\kjcUSY`^YWXXVRQXVWTYXTWZ_a]XPXZXVWZXWYX]]ZVVY\\]ZVWYX\cd]UX_ZSQXXYYYW[YUYMUZVPYWXYZ]_ccdgcYTRSXXZXX^\[VVUXVVXXXWXTVYWYXWYVWX\UTTW]\VZTQQXZWWYWXZVRTYZUXZXWUXZYVXVPOQTYVQSRWYXVXVVXTTUVUVTTTZXXYXXXRVVK?`ebf]d_YRHTOFW\]XSJOZYUPV_edaUEGQSQPLGLMOPOMA?ENUTNLNSQNOUUPIIRUVVYVQQRSOMLMFEIPNRTPRRQNKORMAHNMPMIEGLPNMIOOLGENPVVTMKNQNTUSW\UQTTTY[[WQQGGKJJQOPQPTSMKLMHDGDFCJSYZZ]`]YRNNOKFFGFFLRSMRXWSRQRQQTSPQOJHKKKIHNNJPWQMLNMJCBJMSQMHHIMPNNTQPLLSSMKMKS^]YJOOKMMNPUQSPQPQROOVZWSQMEDLPUUVXXTQSOQVVSW^\XQLKMHDHVULGP\^][XSX``SUUUZ`XMOOECNMUYQNKLMQQVTSPSXVVUWWYXTT\]ZTNIMW\UNNNMFDCFKOWULQSX^XVY^[ZXONHKOQGS^^^]]VRMKRQVSSRMNORWY[\TJHPVY`b`ZWXWTPNMWYYXYTONTUREBBKQYYRJHT^`\OUXYYZ^\[OGC?HTWSQSQKFFKNLPVZYX\XUXYYUMC>HNPSWZY[ZVVYYWUVRPVTPMTVROQRQMPOMOOOJKNKGOMLPSONLHPSUVZZYUPKQQQPRVXYXXTSRROHHS]\XJIJNONW][RSUXWVLNQRSURVZ\ZYWXZWTNPS\]WOHGILQRRVUZYRONSXTPSQPPPQQUNRPQVVWURIJRZWUT`XRSU^bk^RY[Z]XNNNLORJGS[[\WEINPURUNPPOLMNRTXVVSE>@MRVWYZUTROKGFCEKKLOQVTSPRUQTPMILMNIPSQLDGKNTXWRPTQPNQQROOPKMQTVYVUWOKV]\VNNPOJGJHDKSUNNRTRPTRMPPPQOIORLDHKPRTY\ZTROKUWNOKLRSVUPJFLINQNXXZYVWUTVTMKNHJMQWZRNY_\WQOKKUYXVSKJSVSLCHOMJPQW[TRROILQVUVUWSOORQMMRVXWWYWUKKIJNQPMNTUUNH?KUVUONSSOPHEJSXWSSZ[XLEHKMRUNKMLHLNNNVUVSJOQ\_YIPQSXVLKIFDLXQ>CLR>1,FYYITWbilcIOgcR]UWSUUV\VPQSLONSLWUUY`aVN\cbUV`^\`]VWXUUWZYYXaikd`Y]aaXVUWYPXYYTLKW\^\Z_^ZVZ^XVUWWMKU[_\XXZWZVUWXUZ^c^YX[[XQMZYWVZYXYWPUYVYVY\_`[[`bcc]VWYYYWX_b]\ce]XXX\WZTUU]^XUVYUUWXX\^ZOVVUPPXZXWROSUXZVROQUWVW[YWVZVSTUZWZNQPOVVSZVZWZVVXYYWWWZYVVYUSQYRRRVXTOXee^MSVTYORUUCNVWUJH@MSQQYW[TMNUY[XTNFQSSWSTUUOMQUVNMJGKRSSSQJNRVV[`\YTRTUTWQMMMPQUWPJLQNFFGDHSWPUWSIDKJILMIJMNKPXXTPINOQOOXUTWRRYYVW]_YNIIFNPSWSSVXWVRQQQQMJIGGISRNPV\XXXRCCMNPPHCNQSNNV\_XUSQPPSSQKHJICFKILLMRTSPRRQPINUTQQMKSUQGFOTRQNKUYRIBK[fjbURQHLPMLPPO[UPRUVOQRLFFKPWTIGLQUURPQPPRKSZ^]SMKQUMJHMOKFIQSRTUWW\YLIMMXcaXTUIFSTQOJRROSPQTWTPSTPIPPUYVPPUSRRQKBJTKEKIFJMPJCHRVPT[XY[[]^]ZSJKNNJKMV_XQUWYSSSWSPLNOLLMOQSUXVFBHNPT\[ZWSUXXVSWZ[XUTRNMUYRROODJPUQNHLQURN\a^[^\^YTTJGFNPMMSWXSQMGKRTSX_bcTMX^YKIIOVXWXQSVVY[dg]SU\[XVPORUNFJMPVYWSZXVMOWSQUTMLNHFFKOSXXYYXTNRRRRSQVWWUMILIIGF?LYZRPWMFELVZ\VRRV[USRWY[[SOTTRWZ^caXVWQVYSKOPNHLOSVX[]UMLSYY\]UQNPLPRSOIHRZ[__ULM\VTW\`[ZW[nh`cbWP[\TRNX\LNUVYYUTVNHHSRMMTQPROIJOVZPCKWUMLPLKFBMORTRPLKEHTUVOOQTTURTSHNQOLLDBCDPVSLQSUZYTOORUWZ\YWUY[VNIOC8HTYXUMKLLSZUQOLNQOKSTROJJSY\]YTJFHPVXSHLKMRTTTRNOOJPZVSTQOKOQJMUXZTPQXVQSSPFIK?IKLRSSTTRLLSZQJNRVVSIDQRTWOONKFJPTWUV[_^]RMRXTOLMPMQROIINSOJNRRMFIOMORY\YPLQPHMQMNSRNUUSRUUX^[QFOOKJIQLC;>HTOIJFDAFNNLGJMMLKGJPQ@DPNOZ[YXNDELRQKMV\ZPJLIINTWORTJ@OXSOILRW\`e`XKMSQVUQSVYQNURSRSV\bb\QVUR;KTSFWU;Se_VKLLRXRINTPZWUSVNVUYXYVRKMNTLUUYWXRROYQYYSWXUV`aWRW\ZVRVWXUUKRUUTVLVUWUUZ`cb\XYYXXYWWZYXVSQYWZXV[XVYZVRMSZ^fjc\UVWRXWWYUXXZW[b`]\ZPQNUWY^aa\Z^`ZXZZ[UUTYYYYZXZ[[X]WXVWWUYX\\WZVYXVTNMTVUVUSWZXXWVWWUTVY[[YZYWYXYYSXZWRZVWQTTZZ^]YVWWSQTXXVTSYXQSXZXVVYUSE"6S]R>7>D0KFFOQOQV[YTRTNIKMIMX__bce`b_VNLHBFOTUWSGMTRRUTSOJHPYROMNQVYWQJMWYVSUVYXOIHKOIMY_ZVQLOUUVX`\WWSMPMJNQTPOOLJJLMMD=CGLOPOQUTQPPNPOQSTONNQX\QLLOPPPQRPIKJKQZ^]ZLIPXXUPNKUVLIQQOOQTSKFIPUXY[WYZYWSSSTWNQQOPSWTTTZcaZVLNRLNNLPVZTV]YSSULGQYZ]UOIIQTQMOURKJIW^\SRXRIDENPLEFGPTUXWTRTPQUV^jmie]RQMGDMRSPSPLPVUVYXTQPPU\a]RHFINOWVQNOOOUUQPTW^`[TQVQFEILPNFJLMLNRTMKKNNSWXZ[UJEOUOJIIMNNMNPJNKKNRZYTQTTIDFEFNRMDFGMJOXTHFJONPUTMLNKPLHGJLLKNRRURKGNTYTWZVLNKOTTIJOOKGC@MQSZWRYYRPSLHO_`YIEIMZZMLPKGY^]QWXTUX[ZXSMKNMFPSPMUWZWOLGDLPQTVMPTSRSQSW[`c[TTRWTMMQQNUUWRUZYWTPTXTOTPGGPRWTRSVWUSONUYTRIMPNMRNGMRRQSRPVVRLLMWWMDGLQTRSQSPAELQSUPQUQNKQVRIRUPRRTVVUTSMQPVOJEFNOPNTOQSOHQ^^UMNROONQOPVZVQUWTRMFMQLJEFMVQNMNLJKKJMPOUWWQKHKMPWSRNCGRVTMMKJHMNWYWX\ZWZYSQJBIU[XRRRMPUUQRXTKJIJHJPUNKNTXUMJFCJUWZ[_db\RTOLKMKJQ_eaVK@MUH#NVSPYLEUX]\]][ISXXTYZW_heKRW[SV\`[^]]eeXVMW^XLXU`dcZMSZVVTSRUXWVYUUWUVYYWUUUWX[WUYaa]VXXY^\WXYXVTVPNNRXXULLMVVQYY\]ZZWXWYXUYVXXUY[\cgfglpodZUYQVW[ZVW[WUZ\`ZXXZYTQYXRKKXXPXYYWXYXVYYWSZYRQWWVXYZNTWZZ^Y[YYVVUTWWYVZVWWZVSSZVQTUZZPQXVYY\WYVWXYWMYRXVWWXZVRWZVSWUVJep`bfZC5DSLGYVNSRKDOWVXUXYPGLVYXXTSQOPPOOJQOLJOPURQTVKDPQRQTQJNPTXZQMLOUTWVWZYYYVVSJFHNVVSQQPQONNPQNRX[WOJJMET^ddUTSOFJMPMQQRKGKNJLMJHLRONKHMRVSNNQTTSLDEKFFPNNRQNSOJIMKOPMINUVOMPONMOQLNRMJMJNTSTVUQKLRPMKHJRRQMMPSRLKMNLJDDHPPQSNPTLIW]`[W]^^dkfYUQMMMOQYVPHGRNLKKPQOLLXYTTUUQV]ZTSVWPJNPRMQVUWYWNPSLOQGBHNT\a_YZWSQPTWXWYWRNIHPSXTQMMOJCINTSPPSQNLNORSMMVZXPPSRUWRTRRMPVROT\_\VRLMTUNNPWRIDLNMNSWVTKIJOVXULGJRQILQW^ZTZVSSPOPOUY[\WWVPNKMJNV^XMPYYX[XNIMUV[XVLMPPPVXRNNSUXYWVXSKELUVQG?>FOVY]\][YNRW]djjh`TSLAFSSOKIKDHHOZ\]ZUROQZ]\TOKJLIGLJOSKAINOSRV^^YYTPK??CITTNQTTUQKLRRPOMQUURYYURTOKKFIMOUQPLCDKOPNX[VUVUGEHFCHNIEIOROKPPLMNQPMIKNPM?HLFFFHHJKGIMLLIHHMPMWVNJCEXVLGQQMFILO\RGM>X\\^`YNAMVT6=EKMPJOWP;IRSRVZWTRZ[]TIEEJLSPKTUV[WONNLPORWWRUWRQSUV[Z_bd]TLQTTPQQWWY]^Z]`YTLLOJIRVPORSRONOTZ]XXRSWXUTTUPSUVNLJLSURQRSJPRPQXQJLRSQTPKMG<@JTX^ZWTQIFMSPMTZYYSLSSPNHKPSNHGMNSXPNSURPIFHV\YPFKQRQQPNVYWRPQTOJBHSRHEEMQWTNIJMOQINTZXYZZWUUWVPTTROLPYZQJIJJIMQVMPXYVTSSXSIQX^WOPMBDSZVXXSPLOPJIOOMOXV_^VKBEMV[TQZdeXJNMOSNOJLVXZQRRSVL#?WWNISWD:MCUPYWJ\XUTRJMW[OP]^UW]bdd\[\d\UX[WYYQRcjgaWWWSMTRWYX]ZYZXXYUPSWTRUWW]]YZ][XUU\b`_XPTWZWQMOKSZXUTNXWVWWZ]WXWPWYVRYUVLXNWX]_a]dqvtfXWZYNMZ]VZYXYY[[YWZ]_][\ZZUVWPNSUZXZVYQTYYXRVXWUYPXPYYZXa^^ad^WUYXZVRWWYXPVYRMQUVUWTUZXXYYVWZZWVY[[WRMMSWWUWXTZ\[ZSYYZWF\`djdQCE<4O^iaQPNLRWRTXTSQXYWTWQKOQRQRONSZ[TJISSSPOMMLNNNSZXNHBIWUSTNVWWVWVTOOOMMNNOMIRQNGMYYSUSWYVSSW[WQVQMSZVPOIMRQJHKKHIGNQRTTRLDFLPSOOMNS[`ZWRQPOOIGGGKQWXZVKNPOPKEINMMX\SOMQVSSQNGCGKNPPSVREEPVPJJMKJMTWRKKJEGGPUYVPNKDEJQVPFJMMLOWYTOVZ]fni^USQPPMQWZXVUSRSLMRRRPJLQQQNNMPTTHNROFHIMLKJLRRWYPIFJVYVPMOPT[XUUS[]RNQOQMLHOPNNSQOSTSQIDHQTUONTYXPKJLKMMNSSSSNKOVUNOQONQSLIMUWROMIMOQQPSMF@BEHOVVQKKPMLNNRZ[VOPNSSUYZVWXONNOGIOQMQQNUOJDJLLTXRGDITWVY[SKKU]fbZWXVOFIHJQTWVWQTTSPKNUUTRRQQXXYZ]ZZYRMTXVY^cab\SCEQXUOOKDBDKSROWUUVQVYYZ[UPIKLMMUWUPPQPRQT[[WTUUUOMKV]VOQUWZWQKOUVSMNTVUTRTYMINMJIKSZYUQNJQTUUSTTSOLMNHDFKNIJNVZVTROQQTVSJHHKQNGKLIKPOPSQMNLPRUXSILPUTIIE=DOLQWWOLOON[XLSRd]SSbgYFAW_UORUL=CRTROLNONW^XYUU[[RPLJX^YUOTTWXSEDJLOMOQQLMQSNR[[\YRWWYWXXTMIRUVVUZZXUQLIKNMLJQSUPKMMMLEDMSQRRJLRX]ZWYZVUSPMOSWPIFFKWYSOONJNNRRNLSRNKIMPPYYQTPGIQRPORWVVLGOVWSLKVVTPQQT]c`ZV\\RDAIQWZS@BLUVWXXQMPVTTQQRLGMVNGIMPU[ZSRMNQNMQWYWTVPUWUQNGJQVQS]_VIIPPNQURNKRPRQOHRIBIOPUSQQNNVWUWTRITWNGDKONWYVOTNKHGGSXVTY_\YPSORSYIDSXJHJGVUVXPSYPF;.\b_N=$.\YSMOTUJINTMUVV`e]RSSWWUUYWUVYTMY^UXXY[\WRVVYNWVXVZ\ZVVTX[RNWVUWUTXYXWYWTVXWZXUVYYTVSSYXYVWSONV]ZVOZSYWWQWVXXY\^XYTUWUXW\bmruul[TTRLT\^ZVZVWVXVVY\ZXYZ[Y_[XVUU\]_\YWYTUVWVWXYPXNMNT[YVW^_XWa_WZWWXZVVYXVLRXWRWUSUXSWZWVXWZZZVVXWX\VRLSVYWXWVUWWZRSXUYVZ'LS\ZBGSTLKS`][a[TU]YMS[X__a]UKKMSRPT\\QRXXRKMSKDJOLPWXWWZZWLG>GQW_^YOQTVVTNILPLGHJPTOJGGLPYYSX]``YVZaaQKSTPUWVRNMNOOA:JNMFFPRRQSOJBCELLKJHHNRTTQTVSJKLMOFCFLQUQIHNKOMMKMOT`c]SMNSWURPROLIQTWXTNG:HNLGMTODHW_ZOGF>@GSUTTMJPKJOOQPLQSQPLGPSQNT]img[TKJLJKPSSQSNMXMQXXLKMQQTVPOPLNRVW\UPQMKPPTWVSPSPQHALVVZYTRRTSQSTYXRNKPQRSPLMTTKGMTUPOJHLRRORSW[YOOQVQKMPRRNMJENROLPRKKSWULEGMUQJHKKLMPSU[ZWROORUMDJQRRROT\_\TPRRSLPXXUSHANRNJPQNQRSV[ZWSPQORKKFEKVYY[TJMOUUWVWSUOGKMPSYZZTSWWY[ZUWWXXTMQ[^WZ[WW\[PRXVU\adb]TQOPNECLURUTSVURMRPQPLQLOTXMCCQSUWWWYZTMTNKLNSQPS[ZSSYWK:LVUSRTPPVWYYRNOSONLJLRUNGHNVWUXWSORTZ[UJHNSQRVSQNV\[UPTVRKIGKLPVTMMROPPOOJJMQNSXUSUUOKOSUTNPUVK=BE@FHGSYYQMLOOLQa^XK:RhmfVPccZ[XWTKXZQLLONMN[ZXUUQSVWXPHQQPSWTSWUONMPOPNRTPPLJHLTYWVPMLSPOSRRMHLPSRPUTPOOJEHOUWXNMQRRPOOLHJNRQOIDMMV\YUTPKMMCGINLLMQQRTSMMLINOOMKHIRQOMJLQNMDFJMJMUUPMOLEGIGKSTROU\\Z\XSVXWTRTVULAAJLQRPJDNRNPW`[PMQUSRTVQKQTVPSPMPYXQPMMRUYTQQNPSUUVSNKHENNNPTSSOOPKORUSRMKHDNSQQOCCGJQSUWQT[ZXZWRRZ\UQQXXVVYULIQRSLKLMOPRRSUWRTPYa`UTQC;>JNHQURUWVP;&PYQ=#:HPMTYULTVV[_bXVWOQOUSUUWUYTVWWOY\VVXMWYOQYOOYWUUXVUUVWQTZWU]`Z[ZUTXXVQWYUVVZWWWWVXSXQZ\]WUZX]\YWYWZSVXTR[^ZZ[Y^abbVVWX[aijffkhd^XPMZXYVYUXX]a_VVXYUUVSWXXWYVUX^[[XUXZXUMUYYWTMNXXUXVYWXWUVVVXVYXWZXY]]VTTVXXWUXYZX[`ZXUXVY[WZVXWY[YZZZZX[XXWVYRNSYZYYWX(ZmpsiNIYiUIXWUdfUU[ZWNTUSX^]XNBLUUQLQSNKMQTBCPNJGNFHJPMPTUPLMKENRX[UNIJRZWSNNQNFBJOUURKNSWWSOWZX\ZV_kfSEGGMQLEHFFFPURFFRYTIEDFMKEEINNKKPPEDLUVRKGQVQJIPVUMGFOVWNNSPMPPHJPSZbaWPIAMVRTXYQRRRTUSPLFCF?ELSWO?KUWOBAGLRSQLRQNOMKNQQOSWXWUQLNSRRQU_`YPRXQJEBMTUWXUIFLNNWYNJSSOMKOPNFBLWZZOKOMNUUY[ZXVVUSOMSPTVTUVVSQOMORVXUVXVY\[LGKSPMRWZSMNMQTQNNTTXUNMUXTKIMQQIHINPVTOIOPSSSPTUTRTVNKLMNLKOTWXXZUHCGIILUVXTUY[UTRSOTRMGMMNMLNSUTUROQOOSY\UZWTTKHHFHLY`aYNKTUNKQW\WSUORRSWXZZZ]^YU[]YOMUWSKGNSSTVVW``WV][YYae_VRMGMLLHORUW\^eh_RKRXQLKRQWWUNNRUW\YVXXRRNNONRWZWX_`]WVUKGJQWRMKPWZ]bc[MJNONHILSXQJCINTTXYVSTTVUQQIKWZVSPJKX_[SLCJLHGFKMHRVPNMLNSSNNOOLQYUPRVSOOHGMPTQOTRQYZZQH@JVYXPNLRFL\aO9$JWbaZ\MX\Y`dZMX]ZTJENUQNVXLIBROMNVXSK<@OSRSPKFJRTQMPLNINTUHBOUXYP?BKONNSVVRLMOOLFGGKNKHKSVVTURSUZYRQKDJLNNSPGHCRYWRRLPVOKLONFAEOQTURPUTKNSYNOQNKLKORUNNNLLQSVSURPMMKGHMMMRSRRUZZ]^XPPUQLOQSVWTQPQROPIKTYYSW\\VNRLKKLMPPQLIOTTRLMURPONRTUPSOLLMOMRPMLEKQSVUNHNPJGGHNPSOJEKJTXVQTOILQTPQUSOU[\\WQRUUQRST[WUSSUNFOSURLPV[]]RBHPSRPab\PF4MMFJTXSMOYUSNGM<.BH:NSOMNXJJSUci^QPWWKSKQZVOYZWVT[[ZXQVWYXVYPUKUZa``_WYXWXWVYZ`__YYXYUYXYYW\\ZZWXZ^XTOQRQX\]XY[`aZVVWWWXZYWW][WXWX_fe\XUYU^giiedfc`aXRPTWNVY^a_\_ZU\]YXXYZXZYVVXXUYZXXWY\\VSOOQVVVWWZZYWYXXVVZVUVUWVVVXY[ZVVWVYSSVX\[]_[UYYVYY__\[\ZXUYUWZXU^]YW[\VSTPWWYOLK4CdijQ@cf]XYQL\[SLNOE@QWUSX][RNQVZVSVXSOOUTPEKMMQTPRVQIHNMLLPTIAMTQMSRMPSURONOJLLOMNPNKRWYVKQYXX[VSXedYNKKJMKB;AFGS\\WRT\ZRIBHINOPNPPJIPVLGKNSRJCJPUQMLOQPLABHKIPYVRUTRILPV\\\WRSWWVQXVMLPNIEHDBCEE@DGNTTPOPPSNGFNUXPOVWQPPGFPUSONNRTPNPOJORSPRP\afdVJLORPRUQHDKNLMNQWWPHIPRSOIBMRQN@EMFACQSTWRQJNTTRTTMOKIMPSUQGIOQWWVRLIPQTXVZ^[STUVSQRY\\WVQMLLMQWVSSUSNOZdigdXLMPWUOPPOLPTUXUOMNNMOIFHKKGLRRVZZZZba^VMRVOMRUOMPSOLQQKPVQLTUMIOT]aa]VY\ZRLQPVTTPOI>b_h\KPLRQSV_^TVPTSVPLWWVVXKLNQYXLVZage[[W\^ZXTUTYXWVXUPOXb`WPQWWTQTVYad\Y[\UWTTZXUUSXVXZW]ZUTSSOUXVZWUXUWWUZWOOUYVYbjpnkkie^XVZVRMOYUXXXZWUOX]ZXRWWZYXYXZ[YW\ZXXVXYUWWVUVUQLKXZYXZVX\`ZVVVWVYX_[XSSYVTXTVYSKOVVYYXXZVWUaa^[WWZYVXUTWWXXYQOXYXZYXXWXYWYYZ^F&=[OE_nbWKADJFMQA8JSMNSZ][TRHBKQTSYYWXQU]d_QJULFPRLOTMMOOUUVPILOIHD=BJLQY\VTOTYYZWYZWYV\be`_WOW[VUXYRQTRLOPTRUZYX[ca\]adheXOE49GXb_ZW[]\[_]YVONSPITVTMMKOQKLQWUJIHIPOLHKJHFNSTRTYZ\WMNRUUWRPWZW\]WMPUURNNJPRNJQOEFOSVVOJJMTSONHLNPKNRYZUJNONHLNQQTTUXYPDFLOPPRRVYTPQRNHKFIMMOQPPRKMFQQNLKQQDBRVXOMGUUSUIP^\JYdic[QRSWLOQPNW_XMP\_`U]ZWUTYWWYSRQOQOEOSRNNWWSPNPKMVYVUOPOSYY[WPLOPDHHKMTUUUPPTQQQOGEEHNUUQMPTZSORPQPOMPQQRQLKTWTOHFKGRVPPSPRQPMEIQXXUQY^XSVWRLPLKMPWYVQKMSTKIQTSOQTRNNLNPPMOTQMTROPWVQLGNWXYUMJNIDRTTTRRU\_[SHGMLHHKMIJHMV_^\XTTVWTOGIQUWUPLJNONOKEERSMPRVTMLJLI?;A=8@PSMMJMQNMLKOQUTMNNKHRZYUKKPPLOWX[WSKRTRQUVPSVTQU[]XTZWRRPVW[WW][TRa[SXXQ\gjOVl[CRKX_UNRTV_]YOTXZVQPLPV^\WROWTMSV[`e_YVW^ZYWXUUXYVVUYYY\a\WTXY[[XYX\_[YUVXVYWWVUYTVQVVUVYZUOMPNSTWVRUWUUTVWVXX[ZYVelllgee_VZYXZTVZZWRYXWXVY^YRKQSTVU]\XVXWYXV[]WXZWVYYVVZWSUWZVWUVWYWXUXVSW\aaWOTUXZSQWWWYUYZWXVX]ZTX[]\ZUWZUSYVWWVWVYW[ZZV^`]ZZZ\[Y[^\H]fh`H/R`^[XN<7R][MDMS\_\URKKOOC?KLP[RPTWUQSRRTUPMZ\[Z^][VLGKOUYYPHMU[ZTPQNU^]VRLGNSO@EHGEPXZSPPOPMLYfhgaZFFQNJJMQMNMKKIMJHQVUQMGOPOOPSQNDKTXRRVQPPOHBDDIOMHLQNA@HNSQGELLAW`bRGHLJMLMOSOTTRWSOIHDIPI??KOMGCIMOTXTNJMPOKPQOOJKKIIKLLRURNNOPRQOR__[UUMFOPPRQQJBJTPGFOOMGMSRMLKOLNX`_VRJJKMNPQPRUZYTMLKFJHBINVZZTRRV_^^OJKRTSQQRMMRTXWPMNQND>=FRVRPMPQMJKQTQPMNVVUXROMRRSRQLOVXWSMOOTUVVSRPPSQPTQPRKHJOPLRTRPNSX[TLJEBMSQRRDDUV\`c]^_SGLTQLQOTYZ]YWVWTYYSLKHDFFIPTTOIPWX[YVROQYZ]_\\VTZ^WQUSOKSZZTKLTZ_^^^bc[SWbgb[K@DJHMY^baWV^ecb[UKO\ZXSTSRLDIMPOKLKFJGITUQNLJKGORTMPXWWVSSUUUQOW[[XW\XNSYXTULMHNPOSRIIGIKNQSRUYXPMLNTTXQNTZTNMNPPTSPTURPTXTKHKOTY_\VWY[VTQKJQSVQPOMNNOLNLMHMLMJFKS[]UG@ONKFOF>HNa_\]Z\XSK9KNS]aVLRVWZZZXQSRX]\XQKHITXH?NVQLOX]]]ZYRINQSNKPUYZZRMMGFDHNTXTTWTKOOOIFCA>AKNNNMKMNQPSRPPNICNVTRRMKOTTOJFKKLPJJQUWRNIIKSVTQV\]UOPQLIKNNNLTYSMPMPPPNQPSUMPPQNMKQPSX[XQNSSPVYYVMJRSNSTNLFEIMUVVNQ\`ZVSNHKNTTNQSTUW\\ZSMMNWUSOOONOTQKMPPNTRLJPQLSXZRMLMNNJLMNLNSRSTQMKLIHKSW[[VTUKJQWSPKHNRRNTUSVRNP[]WOKKMTWNEBNSUSMFLPY\ZTZbZFNLE?PSC:Yf_`jV+TQSVSTUKTSWW]`WRTdcQW[_^^UOVVUWSW\\RWUVYY^\UOV_XWU[]\VYWVOPUV]X[[ZYWVRMSVUXZVSYWQRWVZZX[UQVZUQWXVWSTWSSNPZYZX[_bdjmskeaZUZYWWYUYXXSYW[][^_YSMXWZUYb`ZY]_ZYWYXUTYWWUZZX\YVVYVVX[][\]\YUUUUZ`\UXWZab^YUVXYWVWUYX[^ZZYYW[VRWVSV_]VXXWZY\^\]]^`_YXZUVSY[XUUWYWTY\ZYZYYZWSUYUVOQWWVX\ZZTLPOLXWTU]_ZUSTWXXXYWWWYYVTUTXWUSUYWVXTPSUWKUSUXUUTWUTSTUMNLPTVTUVWXXYQIO\[ZddYNNOSPNJHNORSQPQOQUNJFHORMKINTSLMSPKEHICAAJJFCCPSJCEFGIJMMRQSTOIJRTRRUTVSOLNMMQTQNJCLSTWSOFHKLLKHLPRXXOLRULFGMQRRRQKKKIIOTTRPSTUSNIJUXJGN\[YTVXSMI>:KQSQTTOPTONRPVWTT\[XTNGFEMQMOX]]WSPXYRKIOPNX^ZTMO[acca]WWVXRLNKIOPWVVWVUQMCKORSNJNQUOHMWSMCDFIRTYYUJMWYZUSNNOQQKJLMLOQPVWQPNLMNSUXOLUURUUPLBFP[\MGFKSWRQPEMRYW]\]baZSNQQNKIOVVVRHRTVWVPQWSOPNIHNRPQPLX``XTQOQORV[WWYYXWVW]ZTUUYSIHNW\[Z]]SPNSZ\`^TIGLMKT\ileYZ[_[ZOJP[]TQQRTNHQQMNLIIFJKIPONQSOORTSRNKNMQRUVV[]ZWNMPMQQMIGLQRROGKQQSWOELNIA@LRPILMPONLGJJJJQQOOKKORXRLNHFINSUQKNUURVZYWVVSGCBBKVSNONGOTYWQH?EOQNQMKDEOLILBFIIL7KH4=ZXUI-@HEIUOKNOPLU\ZNWKT^[\X^[QX`[XXYcZWLRRSQWYYZYZYSXYWYXZ[ZYTWWVVWUYUZZX[\YWTTWUVURSNLPTWUUYW[^XNOQXW\ZYTWZZYYWYXXWZbccbnrqjeZV[WWVZYZY[UVWUZ`c^XRUY[_[\^ZXU``]WONTQSYTUVXXV]_\UTYWW[]WXZYXYXXZXZ\ZZ[YXYX]\ZXWSRUVV\^^XZ][UYVXXXZWZYUXWYZZ\W[`]WVZWYYUUUV\XYPQTNMQWSSSTXWSNYVVYUWWTWWZWXYMLRUVWVY_`UQYTZWUWWWYYUUWVUQVTXWZ\ZVYTXSNXVOUX[^^]XTSTUSNTSRMKRRZYTSOGCJTVUfndTQYULMTOMKRZWSOJFNOJIHNOOHBJQPILMNLD@CFECEILLJNSMJFJMMKMQTYYTVURLLNXXWVTNNONKNTVULIOUY\^WRUVUQSNQQNLHINUVNHLU^YLEFEKLKIGGSRPRY[RQOJPUSSVZZ\WVVYQGD<9KSVWVSQRROLNLS[[ZWUQSQLJMSRMOSXYTKRVRNRSRTPRTUSPQPQNPUUY[[WQADLMSVMLPTNJNQOLNNMLPTW\XSUVQDAIMQVXVTQEFNSPPWUMNTUTRRSSUPMKPLLKNOQUZ^ZYTHBKPQNNGJUZRE;IRRNUVNPURTXURVTRTSQRQKIPSLGHJNQSPGHQSSRSV[XQTWSIKXXVVVSMS[cb[Y[WWVUW[[YUQMKOUVVUTLNQTS[[XY``\UPORQPXcqqk]VV^cbWONIEOTSTTUVSLPTXUJ@EMKLNY^ZXWTTI>DFHHKLHILQXYWLJJNOKI@@GMMPRWWTSQLOTRMJMOSNEGJHCDLQRQPPNHIOMJNR[WQRRPSOIKEHKZXJIWYVSOKIIDHPTQFLLOVTWYVSKBFQTSLHFHHKNND:=GHJ8PSQSS^^WVWVHGOBLQXPBEELPQTSVVXXXTMNMVWPLDNTQLRTRHEJW[TPPVWYZSLLKMSROLIENVXVXXWOPSSLKJIFKTYZ[YWPJLUTNRPOHGMQTTMKMOJMZSMNMNSPKFELRUUTMLB?HPNOQSLRTOJSRRUYYRPNOORVZ\WVVXXPLLJGHOXZZVQMRRQPLNQNLUTMIPKFOVWTXYTTSMFPVYWQMMRSQTWSKJOQPECKONRPMIEKMKORMGKNOSVTVYYL=CFOTTMGJLKIHBGRSOIGMTYWTV\^YSKMTSIGHOVROSXVSZYSRY[VWSNZ]_UQTXUKGEHQUPZ_`PHRXZXY\UHAP[alh[XIH%HH?MRdfWSSV]WQSX`]YNNVVNJVTZ_aijYSSTSYUY^`URYWXXW\\]\YYVZ]WZZWTLUTUYXYQMQSXUPTYTRZc_XUVRWZXSWOPSTXXWY[`\\`\XMOV]be^_kopjZYZUX\`YTWYY[XWRYac`\\YZ\[ZYY\YZYVSMOPPOVVYWVZZ\`]VVVUTWZYV[VXVZ[VYY_^^[YZYWWWTXXVWZ[]`YRRXXYZXXVWWYWWWZYVUWZ\ZWYYUWZWSWX\ZVWZXXTVSYVPQTPSQVVYSUUVWVYYXZVXSVZTOSYZWWY][YNONMWLZYWWRNQTNMSVXVSUXVUX[XVKVTMSTW][[VTUUXKJJRRMORUURNG=AOQRPTOH@NVTOQSTSTRSVZRLMTQQPFCISUSTTPTRPKKMPZ]\ZROOHCGSVOLJJELPQTTPKS[YKNUQOROKRXZXHFNQRSYVTQOMQUNFCDLNTUSPXYYQPJHEIQQSMR^aZNEFLJLHKHGIKHBJRSLAA=MVSRUXUPVQIOKIMMTUTRQQKKPRONV\ZVRMS\]S@N`dXNWSNFHP\ZVLLOX[[XLJC;O_fhf\JHW^TB>S^_MOfpgLQZ_YUWKOY\SWUVRSZahb\WKX\\_^^[OLTa`YVZ`aZQRZ\ZYYVUXTYY\]XRLTVWYTYYMYY^^[VWQUTNYLLRXVYVYYY_\Y_aYVTX_`ab`]ejg_VZY^`]VYZUV[\ZTMVW^ba[WWWVVad]WSX\VZVNUUUZW[]\ZZXTRYWSMPPVYTSXXWVWWXYYZXVXZVZU][ZUXX][YRTWXYVUXYZWSNQQQRQQUZYY[VXZVWWYSYXZVNYXVXXYYRRQKQXXYWVXWXZSRW]a`YYVWSWNTRPQWXUXWVUNUWVXWUTSTVSQSTTUXUSPUNXXWUSNNSTWXWZ`\WPTTXOVUPSXZ[^SXPF?GJSZdebUEEGKQQTTTOGHTXWURSZ\WSWUTPTQPJ=@TTIFJHJGGNQLGMRTUOOMJRWTORQQKFBJICFSXZVWY]^\ZZ^a^VRWSPPSMGFLNIKNOPWUOIKPTT[]WUTNPOLGKHFJLMEGRTQNQY^\YX\][QQNNQSWSOMOMLINNVUQNJKDAENRWSMKLECNRSTV\^ZRQPQOMMSWWUPQSRTVRTXTGBJMHJJSVRPIRXYUXYSMNKNROKQ\ZURNLRPTPQU[\_\WY[XOOPNSZVUOLKJGGPOKJLPTSMUUTXZYQVZWSLJLOMOSOTZZRLJPUVTRZ\WUORUUSNHGGLMQQMMTTVUUX[TNJJHGPSWZTNT]XJFMRYa`YXRLSWZZXTTWUOQKFPSPHJSVUVOHQ^`]ISYWWZXZ]\R@AJRRYemg[XXQMQXYQKQST[[SRY[[UVSMQSSSPMPNKHMKNRKCBJKLJLMOJNU[YOJLMPKGKMPOMIHGNTRNOMNIFLKLLPPKBGJJO\_[VPKJOMHADHGKMLSYTMLMKKKOL??IOSRWXUSPLLOMMJLPMJEJNMKHEJPULCJA>IKBCORWQQJ:bQ_[QPZdfR=FKELUY\\ZVHGOWTNLICHPTUW[QLTWRFMZZWTVXPHFJQTQW[WRQUXYUPLOPPLORXXYRBJXXQMPNMMMJMMKKNPTWTOONKIKKJJIIGFLTVWUMFOSSPQRTVTPRRURHEOPTWVYZVYZVRMIOUWYVLGFPOI@DLOQMJGIQUY\ZTNQQKHOSPINPNMJSVUQOSXSJMXVRQMLORX]YOQUX\ZTPOKFMWTKJLLOTVQUY]YTRMMLHGNTRY_`_UOMJDELNPIJKMNKNKRRE;DSRKMTTNMLEJKORPTUTURQKJKKJQZZUKMTV[\Q?GU`_U[^VSQQSSROILSKRSO^bVE;@G?DJEXfibS9UNNLSd[TMU\UWY\gmh\VVPTTOgmic^TWRYa`ZWUOUUZNWQWXWXV]^WUX^a_WXbbbd_VTUWXWXPVSYVXRXXQNNQPSRUTSTWXYbcaW\b[WX\_\^hhbZ\`\^]_]_\[[XUTQRWYXVYW][YVZXSSWYXVX[_aa\WPUZXTZ\WYRRNLPTRTTSSYVQWYZXVZVOZVYYWSUTS[[VOWWZYTUUZYXZSTYVVWWXURVWXWZWXXX[VWYWYUNMPPTZZZWY[[\]\VQXVSRWXUUUTNSYXYYWQPZTPMLNVUVVWYWRNV[ZZWVWRXYSTWTUXWUVRRMMOQVWSWSSUTTTU[VSQUSRRRKORURTTVYWRLFHOUTVY[YQKQRTYVXYTPSVWSNPV^YKPROX^[YRKGPRIGOMFHLJHHC>ESVTPLFMWRIGRQMGGHJJHEKKQSRV]][YZ^bc^_ZJJPOHJORMGEKKQXQLNONKRTKIIKNPKKLHKIINJLLNPQTUWXWSIQXZZULRU]\TNOTUTTQRSNFEEGLIMVZRNSPLMT[\Z[YXOMLOWXUUXYWUVWWYZRZ[VM@FFFNUZ\_^TOPQURROSYTUTUNLTWSYVTSVRUSUW[\VQWYYUVRKOTQRSQQNJOUPHNQVYUPQUSRW[YVXZWNOMNONNLSXZNDAKPVXVVYYVULRSPLTUUUTPQMLLPTIJU\WRQOLMVTRUWRUZUMKMQUXVSVULQZ[\XLHQTRQMNRNPSRTRRVUOLR^]Z]_USUQPUVUKERXSO\fc\QHIHPWZWGGPYb[ONWZ[XXVTWSNNIOTTMDJLPRQD?FTVUQPKIFKVYUPNTRQNQOPPPOMORUTOJFHGFJNNLKLI?JOLJOR=6T4N\VP^`S?CLO@KPX\ZUNTSLOPTTVYQJLTTOU\]ZUNTSQWUIKMPOQTUVTWZ\[YUVSSUTOOKPRTXPAAPTPOPKCBMQUMHHSXYVSRXUNKH;8ABQTQKEJNOONPXTVZYXWSTSUSSSK?@LTYYX\][TOKMUYVVUQIFMHBGPUSRWSGFCEIRTQOQROSXWQQTURQVWVPMQWXRLRWUTWSKEKSZZXRLLPQKNPKCMSIFIPRPPRSOPQQLNQONLIOVX\_\[UUWTLMMQPLNNOPQNOWYUOTXXROLQNOPMMPRQOPNHDLRSPLPKOSUPFMW[WTH@IPSUTY[XXWSUXXROKKNPQOY\TKNSOD6ENSIYZ0MVUJOWLSSRLUVZU`h`[ZPWWUK^faXPMYYTUTQUXZWVNNRXVTTTWYQTVW``Z]a`ca\YZYYXYVXWWWWUZYVWWXTTYYa`YWTZWXVXWUT[Y^eigYYfjb]XVUWZZVZcfe]VYNSZXSSYYVUPOYRUXWXZZXXW_b`[SMWXTXXSWTTXQOWWUSNRYYUTWVXZ[Y\\][WXOQZP[`YY[ZWXSQVWZ[UTVZY]ZWXXZWZWZVWYZVZYQMURQPNORWYV\b]VVVUVZZVPMLQSVSTVQSWXZ[\]XVVXUYTOQVVVVSPSUTYZWXUQRSNRWXXWXYYUQSTPTSNRWVRVOW[WXVUUUXWQRTRPRRSPNNSUURNQW\[TX^[QSRX[VPWXTOOSUMERUNDGLU\_]WPMNNLHJID?HLKKONDBJPNJKJMURHFRVTQRSTTQE=CGMIOVXZZZYV\^\YJJU_be^VQKJJIOSSOLD@CIJJJLMQPJKFKQJKSTSSTOJORY^^[SKM\c_SPTZYTTWSQSXUJJNPPPMFNXW\YSOMOVVQPWVUSROIKSZYVPSRROUVU\]XX^^YWRPRTVOQXZXQNQSMKJMWYTUPLQ][XXVWVRQOTYTTVQKRVVRXXPRWMGNNUSRSVNDN\``ZWTTTWY][WTXWRV[\YZVQJORPJDBKQRTVWSWTTPPKRVZ[YXXQPNOONXPSPV\WPIOMLSY]XPMNNMKJNW]]XKKTUXXNFRQPOGJQRSUVQMRVWUWXWY^a`VMKMRWZ[YRQVRLOdosiYPOMTWYXTQQWVOZaaZWPQSULHINTYYRNOMHJJMMIPXWVPLMMOTXYYYSSSTTWNQTTPTZ\ZUKCJOQPOQJEG@?NUXUVXPKPUVUNSY`VJRWV[]WOLKFNW^WNOONLNUY[ZSGCIQRKKPPQRRZ_[VVTOPG?FPUOEA=BD@MSO@*UVRUKANNOMLJSVOM\c^WPSRGIIQUSXVOOMMHLVUY`][WOKMLLSVTNKTUL@MYVQSXW[[XQQORURLE@HOMPRPKGCKKJFGHQWVQFOTRQQQPLQNRSSMMJHKMHGJLRXUTKGGSTTSSMIGEFLVVWYUOSQNPPNKQTSJPMENW[[WYZRLKFFLOMMSUUUYTPJSQMMORKDCHKLKERQNRTWSPLTXZZWTNKMNQNKNVXUPROOPKQVX[VQMPQJHGGLNNWZZSQTXQMGLOTRUWVQKKQW[YXUXRQIKORQPJHNMLOVSOOIPVQONPPTYXJHV\WOJOUVVSPLU\\UFHLNWTSQTSLEOURSVPLKCDckk_fxse^UIISYRX^[TMVSSUSNTQT_]YX[\^TXckdWUW]]]YTOVXZa^WRXXYYYXSMNU^]XYVV[`aZUUUY]`WSXVYVZ[YWYW\]XXUXZVUNWWVYadkmeZ]fdb_YYUTPYNX`fg^aaZOQTUXX[ZXZWRQWVW_^[YZYZ_^^[UUYXZ[YWXWWYQTRSVWT\Z\[[X]`\_\bbYWUUNMV]bYVXUWVVYZ]\ZULRXVXWWQQXWZZZV\YVZTRXZXWVWVSSXROXa`ZRTPSUVTUQRSOQWVLKUWWZWUYWTUZXYYSZSSQROLPYTUOVWVSWXWTUTQNNVXROOUUTWUWUYVXPTVTPTTTVYTUQJVQVSVVWNSJMPQRTZ_``b`XRPV[VKT[VKEMMOMMRHIORUTNHDGKPRY_dbRHGKMPUQMMLIJHFGHNRNMSWWVURUXUHAEJDBJOOQQLIGQTWWQPW_hldXNNLORSVOPLAANRQQSRPJLHAGMQMIOLHMQKBDMNX\VWSHQZXRLOQOMVXUUZ]TKLNSPPPKKTTXSRRSSV\\TMUSNQONLOTRMKNRTPMJJKNQX\\\^YRMOQKGHJY^bcYOKFEQROMLHP`_UVVUTLQMRZ^ZYSQSQJDPTPPQPMOSTVSUTTMOU[UXWVQPWXXWVV]ZTOW]][SIKLMNMJHKLKGMTMSWUSPONQNOMTXUTZXWUUYKPU[ZZXURJHNWXVSPQVTMOTWXZ^UGPUTQILOPLMJKLPTUXWMMWQNV[XTS[]_XPLSZ\a_WPSWPEQgmkaY]XOTYY[VPLOQW`^]\UILPNHQTVWUSRUPMKJKPIJPPKDBHMRWTUWVOPPQSQSTZYUOVYXWVKFPVWXTKIKNJKMLQMQQQPPVUNIQXVNIHQ[^[UPJKKRVUKORRUVWY\[[UNLSPSY\WQVXRWUSVTRWVQFGOKDB8BDARVTKB=HeWCBDB7JIIKOP[_cYNKPQQHCKLN[[RBBBEKOOS]XRNLOPQWWWZRISXSOPPMNX_`\YZWSOJNUTJJQTRRYTOKKQTKINRVXSJDGEJNTTVYWTLPQRSPOOLKJKEFJOPMPSUSQRTSSNG>EOQROEKXZKD=ITRV\\WSNJOOTQTWPJHIFFLONTXUONLKMDFLKMOMFFLNNPQWYSLMQVVPMXWTPMLLLPI@@GOQOQQTX^]YZ\\\VVYVPHHJHC@CKQNOTTNMRTPLHNUYTKNRQQTY\^\QF@CDIKQRUROUVYVSRMOTOPOSTZYRPSYWOKSURRSOLR^^YRRVSVYXVVNKQRUSPRD?KMRcrmhajjd%*JRehk\_cVJU^`ZTLTTPXVWTQZ_YLZhfa_he^VVXVTLWY`\TT[_^[YVSY[\YWWW]bba]VYWWZVSUSVVVUZZXZYZXLUUVZWVUQRU`fjorl_YYUY[\XVPPRX[_d`]acYVVQXYUY\_baWXWWXXV]bYQWZ[]\]^VSUTWWXUUUUTRUUQSTUXY]Y][XYYXXWPVYUSWYYQZOYVQXWUWYTWUXZXZUXXYWVVYSV[XVRYZUVZXROXYWWRRX[\ZZUWWYTNOUTUPPYVLOUXXYWVTLOUVYXYZPTYURONQUUXSTYZWYVPPTQLMWTVXWRQSXVVXTVUXRQTTTOSXV[XTQLLQSSMIVLQOLJLOW^ce[TVSTQNRPMUZZQLIGEHILPTRQMIA@FJAKUalnaTJKJIMMNMJMI?LNHDHPJMTVSOLMOTQOJJNDGLOMLKIJKQWVRPUQTX[WRMMPRSXUPNMJKPUWUWVTPLOLPQOGHNNGFHD=?DJT[XQOMKJOWZ\TPTOJR_c`ZSR\[LEBDKLRUYZZ[QNQUTSWSOSQOPMHJKOPTTQKNMLLPW]YYYRGLPTQOOLJLNX[[]XSUXSNNLHUWNOJLOTZXNSZ[URONMJLQRPPRSRHGQWWUWWWTPOPRXVOKQRNSV_ebYOTZ\YSJJPRRQLKIFMONLKRUSOQRPJNRJHMNMSXUTSTQRXXQPTVTPPQSURUXW[^VLOPCGXTLKONNRVWONPKJFIOWXXQQUTRRQNKMNPVYXSTX\[ZTQUWZ[RGI]cfebUWZSPVWNKJJGONUONPRTTVTMNTUVPFGPTRNNXYUKJGNTUY_]YOIGJQRSQRY^XPSTQTVQKRWXXPLNRVSHCHOKKRX[VJNLKOUTVVVOVVTSQTWWSRNEMNORUYVOSWVKAGMS[XOKQTSOQOOIKVZWTNNFIRNQURRUPPK=HVeYZUD>?FD9>DPYTJIKROSXVW[^]ULHPRUVYRORQNPNPTPPPY[WNMSTQOCCJORRSROMRTSMXZWRNIGQZ_YWWWQNNMOTVUROPNJKOSTTQPUXYSKKPKIOPLFGMTUPOTSOMORXVRLJFHIKGDNVUSQRUZTGQXWSQQLTRLOYWSOKJNTWVTSJCLNLTXZ\[YXWNGSYZTV[ZVNLISWVPOKOQOWRLIECADNKMMPUZ\YVUTQVZZUK?HNPSROMHHHEKDFMUWSIMMQPJ?JIHMNV]a^XKJLSPMSVTSRW[YUKSUPRTUWVQMINPSVXWTWZWSVVVRZ^\ZY_e]MNTW[Z^]YYUFDOSHOD=EHRVZ`[[ZUPIINRVZUQJGLU[YUMLLNPQH?DEIOTXURW\WTUSMPWZSIHKLUXVTUTJJTYVYWOPPRNTUQRSQQWYXSTVW[RKQSQOOPNIPXYVVUZ[VY`ZLIPUMIJLXXYVQQRQOS[YYZSMT\[UUVUQQNH>CFLNLBJOIGGLNPKLRTRPRQPPIQNJJSTOPY]XPRXXPPPWZWSRUROSTTTRVVQOORROPNMIBJQPMUXYWWVQLORHDKONJOUUNPVUONONQOMR\]XWUWZUOBKVYZVRUUTQOQTTPLX^WPRVPLHQUPSYYOEHPRX\\[\WWYUTULYhkb\ZacZUKFJSZWPRUQJENNNLTYWUTRPMJMNLHGHLMLPRNJNKLNKJLLNUURVUNHLTRLKPVVOHAEFGKUUTOMKMHEEORXabXSPKJJNNQVXSHCIHLMSTLFIAADACHHKNNJF??AADGIGEKHBFJNPOKDCGLQRPKJ@@DIOKNUTCGQUT]c]IHYdf[FEFVOPV_afeRWZpfVIOJSUS[\QORV`]UQY][YUUZ`e[VURU_a`WWSWXWhf\WOTUTXVSQU[]\[^]XVYY\Y[WX[YSSTVVYZ\YTZY[XZ^^X[`fkjcWXYUX[\\]ZXQRTYWWWVRZPXZ\^[WVWZWUZTTYZVVX[YYYWNTUWZ^[VQYWLPLXX\YXVLPVWXXVXWWY]YVYXX[[VRX[SUXZYVWXVWYWQSRPS]^YVUWXVVSSZWWYVVYZVVYZWVTPYYY[XUWSQUXVXRXXPXUYQWLWVURSUOUWVT\ZYOSVYUMSYYUVVUYZXY\ZQMPVZVQPYY[XTVTTVTVLSWXLKLLNOOWLUVTSMOOKPTOUITSVRUXYW]bf_RFJSXYUUTRMTSPSRMKLMMMLIPQPQMKFIHIPUWRMQNGHIFLLFFGLUQQPROICBEKKGHMPQMMPPTOF?IHGKU\\ZULLPJ?BHPLMNOQTTUUQRVW[XUPPXZYWVXVTKNPMJD:AOSRNKEGMKGJLKI?@BIGLNJLIKNPOUZYYWSHINMLSWTMONRUYYTROLV\YRIA59AJNGXcbYVSRTV_]YVZ[[QKJIMVWTWWYTMQU]\URUVVUPQVNQTNJJJIHV]^TPSQRPW^^UOCOVVRIC@JWZURZ\XSURICHMKOMJJTYSNMPMQWVMKOIHKQSUXVXZZRLEMQSRSTRQILRXUSVTPLMMOTLEHMKOUWWPMOONPSQHDMOPQSQOJFBMONS[_a\USQG@OWWPNOOQQNNQPNQQKJMRSICEILQPNRPQRLDJSVUOILOMOSRRQLJIMVWWURUUYVSSXZZUNLQVXWWRRT^gb[UVY[ZVXX]RQUURPTVYY\XWSXWTPVZ^ZXQX`b^VQLRWVTQQUTTRYYSROKNNNPQUQPTWYSONNGCP\UORVTSSTQONNSVYUXZWNPSJKOMQSPNQRKMRWRNPLQVU[ZURTMNNHEMVQLOVWLMPRXXYUQPONTQNQOMG@HPWZUJJMNOSNQSPLMPUWUKQUTNU\ZPIL`]R[VH7HSTJR]aZQDRRLIMQPGCILKEGQTLALOJEISRKKOKEKTQNPQRURJRTRPPLOWYZ\ZUPKMPU^^WPNIRRRKLQPNNRTWXTSTRORRTXSNMPHJMMRXSJMRZ]RKPRQRSRVSPMECBEGKNKRTMOSURNRQQOMTXRSPQSTQQRRSVSOQPMQVTTPUYSPTVWUOLSXTQOOKIIJJDEPQSTOTRNOPMOUYbe\VWZYUPNSWVQQSWWVSY\^WOKQPUPOTSWYTNPVVROSXZVNJMMGINMMKKOUW[[UKLQQOQLNNONNRVPHLRXSURQTYVRRQNNOTOQXUH?DMX\ZWRSU_`]VPPKJPSSWPHK\chmf[M`QSLWdRVUSNRTNLTVSJNWZMWSWce[VNLQV]\WWOSX\WNXUY]_WQUYWMRXYSUSRMKPQWYXVXWW]]XUW[XX]XWUXUVWesywl\\[ZXY\\`_]UUSXYWVSSSONSWYYVX[[aghb[^^WXVWVTSPYVW\d`YUNOTPUW\YUXYX[[[[YXUQLLUZ]\YZXWWWZ[ZVVWVVX`d[WXYZXVWV\b_]WPYXYWUUVZXYVORVSOQXTQVZ^XUVWTUWXWQSPSWNONTVVYXSYORMORVWUTXXZ_]VVUTVUXY\_ZVTVVVYMRNRWUNRXZUVTSOMRQQVWXPPTMLXWOKPXKPTQMQRUTTONSMKQRKQSSOQQNW_^^YYVMKLPONPKKMLIKOJGJLVSNGFOTRLHNRRPSXUJJONNMJEHNQUVNIMMJMJGILGAEJHA?GLMKGJDHIFLNQRRUWURSWTLKR[XXVXTSLVSLJQYYTROK>@HUXOT``WKOPTVXYWUWXWTONPTTTNOY[XSWYQTLOW\`XOV^SYZSLJILS\]\ZXURRT]]VPFNOVXVLGIOONSWXVWRUPQNMSWSOQUXRLLNAGTWRQTNIDGCPXZY[ZURLLTWUVYWVTKKOOPUPHLOOSXSILUVQRPSNNQPLHG>;ISUWXZWVQHGRUTSVTVYZVNEEPNJLOPLHMUX\WUPMGCJRWWQPOMOUWUORWSJGQRNJKQTXZZTLEMONPPTSPSXZVQOUSQQTQHCHU\ZXYUV\_bdecYRRUZZWXWRUXZZ[]Z]]_XQPPSYbb\SRY]\YWWZ\YXRSWYQNOPRTMEHKJGMRONLKPIHKVROSYVUWWUVSOTIJKQVTVX_e_YSRSSNLTTYW[XMMMJJS[[XWWWZZXQOVWQPSMMVYWQVVUUZ\UNOLJLLNRURPMEBPUSIGSWYZTTVQHAJQ`]ZRJOMPQLLPPSOIJ>PZOWR?=QOPWXZUJQQMPTUOVUKKEE>BIRNMKHHIPTJ>HMMLGINROPLRUTSHFPSVZYUSKDDLSUJFHNTTRMMOLOTUOOVTJKRPIDOVUKMRNNQSRWTPQT\^YVUPPSWXZVLJHNURHJNPTWVRSVTVYVSSQLONPW\ZYTXWQNRPJNSMOQTPQSTRSVZVTQKMMQLMPOKKPJEFPPJCFMTTRUVRSTRV]]XTPOIFR[XNR[][RRRTXSIMQLJMNRRW\\WVVSJDMX_^XSKHKUXOKHKQSQS\ZTQLEGNRTWUWTROLGOY]\\XROOPDLPTSVXVYZQQPRPPTUUXXOOX[WRHJOTXQLQQR[_`ipW0@@SZ`bWURTJRRXSTULQTUSOQUahibWYTN]c^YVX[ZTMRUV[[XWXWTX[[YUXYTNPVXQV[[YVW[_]VWTXWZWYWTVVYWhssncZb`ZXWXZc_YXTMOWVYVVSSSMTX`_^_`ZYV]bfbZXYVVWTXWZdeb]WVVYVXWVZXWZ]_YYVVVXXRRQUVVWW\[WVMXYZWVRNVV[YXVVYYZVYY]]__[WUZYZZTPNTVUSVTNPWYXRTXXUVYWTTXWTYUUTRUSMUXUVPKKPRVQYQTSXXWZZUQMTXVZYUYVVZYXVVYSLNXTQVZYURUXVQPLRUZWMVSQTQVVRPTSSOPTTUSTPNTVRIOOVRHOLKIT]hkg^UGCFINVUNGNUTRPPJJJQPKMORSQMDGMJCKVQGLQPPNNOOOORROMNNQRNSWVOF>?@FBHQSTQOHHIBBLRQJMQPPTXVKINQMRU[]ZQNQTVQXWSPSPJIX`_UPWZYSJNV[XVSOOXVTPQSXZYYTV[XQSW[[ZUV]aZV^a^VORRNLORVWQKLSUSOQRWTQJIOUYWRPJHLQNONSSQS\ZTUTVWWSTNFAFKPOTXWSTWTPRUSWWTUPMKJHJROQUVWWNINVVPHFHNQUWUTPPRV[VPPLMOLEHNLOPQUXZ[\ZM@IKHLJEHJRUWTQNMMRQKLIHQTYZWOI>;DMQSTNIMNNVDLWYQMRTSNMMRW[WSMGIQPKPXRNLQQMOTTPOQTPMPQWYSWZWW\bdfif[LKRZYSXVOKRVW_YOS]b]WTVRW[_a[Y\\YZ[\ZY^YTQV\\[YNHNPRMNOLPSSNLPIGR[XVTRSVW[YWW]SOOLLQSTOVdkkbUQXXZ]^\ZRY_ZMIMS\__\UNKMQOQW`_VJORR[a[NQPNYecYNPNKLNUXXXTTSOGIKFKW[[XVRSVTQJJRTUVNCFEJTY\UKHIZQBJCU[TFFAH_`TEC@BNXVC16?CFJHKRM=BG?DHHKRE?FEFONMJJKLLKKLRSN@@KLIGHPJMQTPQOPIBLPKIFLUXUPKMNMHALNMGNQMKQQJKMSTSPPJJKMOLGFKFFLUVNHMRWZWRKKLIPTVLEDJRUM:MNGFNOG?9:>@OPCEMHGHHRUQOPIILMNSSSVWTUNRWXJ;CJLHFJSQUUOHKVTMNSTROOSSKFJLMOJIHG?@==;DQXYUSXVOPQQKBDMIBCCEGHORPNHGOUTOLNPRKFGJGGOTPGIMMPQQHKOTRPQXVOKMPQSSQTQNLSTNJCKSTYYUTMOZ[QPSMRTOONPQQQQPJBBITXVSUWXRFKNRSQSNGONINRQPSQVUPQOKRWSVUUMQRSONKRRPUVONQUUUQV\^[XWUUQPPRRTVNGJNNQTRPTVOMMPWRPONIEQTQJKKGCAKINOOJHQWTNJURE?GLTMSUTVZRG@QXNYfoh^ZO//A5UdgkbUNUXdilcRTTSTYZ[VUcifTXUXc]XTXWWVTV\ZVTYVWPXSXUSYQSVWXUX[`\VVNTTYSRYRQSUZZXZZYX^jh[``_a`^ba]VW\ZQRTRMXY[adaWRRNLQYY[[XVZZ^^Y^\XWXZYYXXW__YQUUTUSSWW[WUUUYWUQTZVQVVYWZZWXZ[ZU[XXYYX[\`a`ZTY\[XZWXWRTXVVVVYVVWXXXRVYZWWVWVSOQSUZVSTVZLSYYVVTUXKXQOUU^^\YXVRWSQRQVXZYXSPNRTSXWZWVZXYVTSORXXWWSRTVZYVVSQTSQXOYVXMLSWURNQQRLPWSTTXRTUMVIWKQRQPNSQMRKU_`\USPNNMILQMJLOOMPSVRJLJLRUTUTNMPYZRQXVOKMOLIGFKPPQNIIONNKJJIKDGIQRTMNRSTNLS[W]PH5+ERX@ EU[QIOSTWHWYTSRU]\RSVKLUXYYQV]ZUSW]\\UZXX\abXUTMOX[YTYWWTXVSMKNVXVZVTWXTVUVZ[YY\_YU]aaeprnfdda_ZXV][VNMMUUUVUWRZ\VVPRXYUTZXYWZVXVXXY[Y[_\YWYWZZXXUS[_[YWXZXSNWVSSPMTXYYWRSVQOSWY`^YYVUVUYXUY^[XUUVXYVZZUUV\[WUUXVVVXRUV]caa]YWTZZYXWTVXXWZ\_YWZUUXWNLQVVYXVUOWXSMV__[]Z[[YTW[YSPOTYY[YXVZSXMWVVUWRRPWYUTRQUVYWWTSUUUWSPNSQOQVVQMTPPVTXUUPPSUSNLIQQJPMLMLQNOSTYXQWW[XTQVVQOUZYSPNKEEGMPLJMURPQLIHLKHEHKOPPPQRMLFJG@@EKOMMPMKOMQQQLFMNMKPQWUPFJQSJFOQNMPRSU[YXXQPUSLIMORWWbhe\QJJLJDFNROGLRVWQOOQ[_]XOHU]ZQPWZRHDFJLMRNWWWRQOKMOJMRXSTXRCHPRT[`^VNQUQLDERSUNQWXRMIJNPKGMNJQSMDOXXV\[XRLNUVLHPRYZWVWPSUU[\WILRMKJIIIQRVULPVVNFCFJIEIJOZaXPPUVRSURSRVZ[TMPTTTVVTRQQSSTUQLKFPXTRSXXWYWSX[[WNKGKKHMPGACKOKKPTZUMDHOTUV\[\ZXVTMLMOQTSQTUW\XWYZURTUMPVQMSTQFLKHKVZ]]XSYXVUYYSQW]^^\VQUWUWVUT[VUUXXWTQOOPVXXTTPPT[YYTOLFKPUNHCKJKRVTKCHPTWWXTRKMLKPUVTJQTNJFNUNIMLNY\TJLNNQYSKPV\ZVSSSXTGKQRE>HKJ?9HPQKDOUOHLJIFJQTH?C>BKFKNJKKKEB>KQN=B@DKHCCGLTNMNOQB=HSTUZOB=NICRUEOchdbaYQF4KURRY_`X[ZTOLVWOU]_[OLMLPTZ_\YWVTRTV[]\SMNNQRLHNRPRRRRXWVTSQTTTXXPUUVSLNSQTSLMPOMIGFQZ`[X]YSMOKIKOS\[TF:@:CHPNHELTPKFOPQPMMTPV^RNMS^T:C>JVcic[LSUPGTXXa`]MI^YLCRUUVUWRUXXTRR]_^TUSPVT]\XURNQSQMSSWXTRONPUYQMMOOOOVZWW][YPNOTWXMGKOUOIJRWXTVYZZVQKIKSWY[WRRROJLOMR\\UKMOHHFSUIDHOKHOPWZSNPNJKOPGJQOJIJKLOPMUQIPQMCHLRQSNPUYZRDDJIOUVTPKNSMEEFLNKLNKNSW[[QMNMHGLSQSXWRYZSIHRTPNRWTMIOPTUYWKJMPTPOSRNOJSTZZ^b]ULSTPLJJKOGGPPONOS[VOJPPNNPRPRTVPHHNNQRWRMQ\ZXTSU^c^PJIQSKKVZAEHHMKNLRTU^RX_YY\\VQ]>PKLTVVec^QSRXMX_hdWULNNQNKTVXXWVZ`XQTRVMUQNW[VRL\a[Y`a`\XUYXYVSQUVVYTSOMSRRYafhiijkrmeWUQSTVVZ^XTRPSVY^_a]ZWW^a_YVWWVUZVNLPXSTUV^\V\aca^^_YUXWXYZYVTUUYYMTTXY\]YSXXYY[XXY\\[YWXZ[YWUVXZYWW][YTVVWUPSV\\UW[Y\^YXW`c`YZ[ZSUXXWYSQTUWVVXTPTXYVWZ[\RPVZ_]YVQMULOTY``ZYYVZTRUV[[VXYVVWXWWWWUVMTNYVXSTWYXYUVVUVPORTQOMLORRRMLVWXNKSUMJSMLOUUSUJLOPPQQJKONMJSZWXVSOOVY\\VVWVQPPQMKIOMFFFLMQRVX[SRTQRSVQGNRL@HPNKHLQMHDEJOQIEJOHKNLBGKLSQPVXVPMKKQPIHLOPSWTQXVPIIHLOOMKHJNNNQUZ\YPLVYWPTVQONHKQWX_b]WSPPMRSPELY[YTSPPNTRMMZ[KLQTTLRTRMINQQRTSUTQU\^XNBCKMMSQJPSSLGFLPSUPOOTQPGJLVUSSOOQORYWUSSUZ][VRQRONSX[YZYWRQMLQWSMPYXQPQOPLKINQTRXZWQNRSEENPQOKBKT]^XWVOMNJINQRTQMQTQOTVRMRV[^Z[c_XTNMSPPQXXSPOKB>IPUYVKRUUPGLPPOOMQSXWXWWQROFGMMOSNZ`]XYVQOGCKY[XKNPLLOWVTPUYUUXUXXWTOOSTTV\_\YWWUS[YUOV\]ZWVY]^XVYZYWSOJRWROMKLRWWXXVQSVURPQPTWVSSMGNNOUQOMJMHKRRQNKKPPLPY\^YTOOSUPPNTPHJNQTRPONMMOUWRFGOMLKEJQYY[][VURNMRMCGQZ`]XRPOMKOLC?DFGIEOONHD?ASTOOOKPY_YRW]Q8=>>`\b`]UTZWLOV_aYJFJORI6HOHMOQTVXXTLQY^[SRTSWXTRPMSVUVRSQPTTSPPKSVWQOMSNJIHJLV[[VUTPOUQJHGMSSNRWZRNKKNUX]\RLLV][WTXZUSRUTNSWRKPTSKFIPQORKLRSQTXSSRQNOWWPIQOKKNUTOKJPTRNPLFKKMQNOUZYYVSPLKMQSRQGDGIGHIQNLSURIGLLNJMONNLQSRPVSRUVNGKSVRKLSWVRWYTWWVJCGNUWSNPVUQISXZW]b^XPSPTZTUVQKQVSSLNTZSRSKGOSQPJHJPNQNHDGGE=OZ^_]_YUYWHLKHKECSZVOWRRQURC7PbZEPNA/=SE7"2MSTT^ZcVIWLKW^imcT[_YYYWZ]ZKJSSU[TWVVRPWWVX_[VW_eXSYZXVVU^ZWXSXNWWUTPRUWMVW`ehkjhilnh[XXVVWVTZ[WYUYVY`^ZWVVY[\\VVTUWX\WRXXNYPX[[WZafeaZ]YWVVQOSWZXXYWORVXZ`\YXNQV\Z[_]ZY[[\YWX\_ZVTYWWXZYUVXYVWUVZUPUXYXXXWY[ZYV[X]a`YZOVVZYYVSZLQQTVQYZUXWPPXSY[\^XUOOXWOUU]b\WVVXYNPZYZ\YWXUZ]WYZ\ZVKLX^c[WXYTROYORPTSNTUTTVVWWSUZXYVWWVXSRNMPVQORUNSRSVMSVVSRPKHRVTOPOJPSZXXURUPMMMOPPNQQLJHOPOOVWVSSWWTMSULGLGCGPPRPKOLJIKPXWQMPURQQNMKJFMOPUXOHIIPRNEAAIQX[\XURRLMNSY[[UJLTVM@M[aXTSLLKNTUTSRQONPT[_\XTUWTRRXRJRYXXUTTUNPLJTZUPLJMMEFIHJJORUXYXOPYb_WJJNSOLRVSMKJONQNRPQSRSTRSLNQUYTGHOONQWYXVNHQV[\XOMSIDMPOQSQUSLP\`\UUVYRJQTVWSSSQSVTRVUUUOQPUUTQKJHNV[WXZXTKGCDQPNVULRRWZ[SMKLQSX^caZYXURSSX[VJECB@EKNJMQQOSTPUVWOGT\ZYYZZVMOPQNIRUVVSTX]XPNRRLPQXZ\ZXRPKJMSSRTRKPOJMZad^XY[^adda[VRRNSX\ULOUVRMHSZYQKKTU[ZNJNWWTOFGMPRUUPMU][NLIJS\]WUQOUWRMLRTLFELWX\YXRKFAFLX\WPTNJGFKOURFHQWULNQPNMJOPQHIPPOGDILRRPUUVRLFLTN>>CMPROMLIJJJKGA;?EKNNIIFIEATVQHJJJKTUQUZWTOWIBIYVODJVUUJNbbVIWWKKMNUXPRUM=JJKLLQ^a^NMHLOPNJQSPVTPOOSKQUTRQUX][WRPLNQSSRQRZWTVVSW[TH@FQTSTTZ^XQOINRV_gbWQY[PJLVYWSQWRKFLQVWRYUHEFNVSIMWYPRTS\ZRMMSURPKHGLX[WSTSROMFBIKOSUUKKSTNNVYXQMTUPIJHILOJDFPTSTUPEHHE?NWWURNILQWSNOTQJDGMNSNGOVWXUSSORNLJLNX`^VHJNLOV[YR^de^WOORVSQUSSVUSNFCX^_VRJJKQPLFHPWZWSQQJHJOQSZ\YWYQQURNLE?DFPY]\WQMQU[XQLS@=MVVLBQSRI8=QWRQY]_VQTMV_ecTOVca]XU\a[XVUKLWTUZ\ZQXVWX\YW[ee\UXWWXXYXWWVXUUZUYXXWXXQW_ggkihdadggcYWUWWVZYVUYW[UY_ZXX[VQYXVWWUUVVTSMOYZRTUYWVXZ\\_\`^[\XUVVUX\UZTRWS[aYUUTPYYZ__[VUVWYZYYTTZWY[YWZYZ\ZVSTXZQXY[YZVTXSURUVZVYZVYWYZUXXXYZZXYWONWZWWV\ZX[VNNYWUVWURYYOXUXVV[]YZZYZTNMSUV[^WSWVZXYVSNNUVW^[YYZUPSQQWTPSSRYPW^YTQTWY_YXUTWSWUSSTUROWSQTUWTRUUTTUTOMJRROVYWQGHSRLLPOIHKOQXZZXTROKSVUSVTKHFORQLNRNIFGHMUWUNIIJMNJEHNLNRVTRSTTPIFCCJRY]\YUKKPTTRTQJJUYTNYhiXMONFAEKOQURNKKQWZUVW[[XUKLRPMMRUQSNNOMIMSTXUQLLMECIGMQSSXUVXSOYac[OKOPMKOSZ\YOLUUSWWSRSPPNNKLPVSOJPVPKMMVYUPLPT[]YQILF=LLGEPTZ_YSSWWUUWUQJGOWZTNIELSVPMQYZTSW[[XVRVYTUTLX]_]SLPMOSORTOQQW[[VQNMJMOY_cbZTQOLMTRPIMNMQURJCFELQUENZa]TOW[YSQTZYRQTSQPUYVQNRVXX\WNRVV[]a]Y[[WQNPSTQVVQOVQQV_b^SRS[bb_]YUMKSRUXVRQTPMKFMQSSOOJFSSRVXXUPKEHNRQWTOOTYXNMNNPQSPOTXXY[VOTWPFDGKTXWUTOB82@OYQS\]ZQLNPPQLIQVQKPWWTPKKPOJKNSTONQQQQJJNPRMLLPMJFAHMCBFBSUUVQUYWWWUY^ZTMKKKFKRSQPMNQONPV][TSQSTWWXYZTWYRJLINUPLRUWVPNMFDKNMMTUNIFMSSRPMGHGNKJGOOJQSVWQIIRY[^ZUPSOOSTOI>BLONNMSTYZXURSXZURRQKHSUPMKGAEUUVVVVSZ]ZVPLMSSTTSKQUXSNIHJNSRROLMPNOUVRMGHMNPX_ba[STSXYXRNPLNQQOMNOSSTTQRPSSWXUGEHNTWTJCIMNQRRKDOXZ]^ZUSSU\\\[TPWUNILV^XXVRNORRWY`]WOKOXZXZYZWTYZXTSSWWTWYXSRVWXTJGKSOMTYRLSHEQWURNOOHMRQNNQSOFFGJQXVXUNQXUOPTOOPTX]\RIGOXYXY`cc`]RPUYSOQWXQMVZ]XYXURNRURSUWXYXXTJMPQQPQWVPLFMSNHKKLORNFEGGJKFIQPOLLKOOZVVQQUUTRRURWXX^bZWPMS[YRXebYVMRUXLID9EPUNLMLG>ERX\VUYZ[WSQOTTPQQTPOFMSVMKUXZZPIBEEDCNPJ>DHKQWVRJPTYYRNEFOTROQMILMQOOHINTKVY]]XRRVXYYUWUROMJNPJCIOJMSTTSWYUQUYTQPMMOQTRTWXSMHEEJQVXURG=EJPSMDMRVUMOSPOQX[YRNNPZ]ZWQNMJPVVUPQV\[WWPQX\\TQX^XQTSTWYWSTUVPY[UNQPLHLTWPK@EPNSPDGLNPRTU[^cc[PQUVSIIJGCKQTXRPVTNJKPROHNWVWTVPIBNMJIIHMTZVTSLQONSYUMFGNMMLGPUX\TMOSOQAGQ[al_YX7H'kTWSY^^Zgf_W\MJMJSVTXTPYPVZ]YSPQMWc`WRVXXSNZWYXWVXWYYQXWUUV[[`]YVUQWW]`bgmmjiki__ba]VWVLKTXX^_\_^XUY`\XMUX_`\_`Y\YPUVXWYWSTUYZZXXWV\aaa[YVZ]a]ZVV\_XUVZWZZZVXYWXWSTUZVW[\^\YPRX]YXWVWWXVZZUVZ[]XWYVTSXZX[_\ZZVZZWWWZZTTWWNLLNVXVQRQVZ[^]]][VWZZVYX\`\[][WZ[[YWUOOOTUZVZVXVWXXYSZYWVRWVRVUSUTTVUYXXVROQTXWYWWTQKXLMOPQUWTRLXTLUPQLWMW[VMQVTUTSUTWSWIXTPNJCJNQNQX]UFGHCEFIKMRWXSKOTNLQWVOIJMMMRJHIMMMJKGKQQMONKLQZ^YWOSQSWSNJLNQSONQWUNQYWTREHMJI??NURV\XOLNLIU[[SQXZa_VLH5:DFDRYWTQUXSQX\`^[VTXZSOU^aWLKKPRRU[`[QJLTUXWY_^XTUTRQCMTUPMNOOSUUOJEHMKNTWWPQOQRMIEIHQRNR\\OMTPSNSSXZWX\YQNKNUUNMIHKSRRWTTTVSQRV^^XQOSSPNLIJRWNKJOVXTKFS[UMNIIQXUSMPUWQPNMKMLXVNOJJSVWX[VMKOPOKKRW[WPMW[[YTRMFHMLDHPX[\YXUTNTWWWUPMQQTTRJKKMQPGAGIQOTYYUPNLNTYXRNNTWQHFRY\^]XVUOTXUT]`aZSUVXSSXYTWTSLOUZ\WYXOQUZZWWZ\_YUQS[ZRSRMQUYXRMKJQTLFGMLIEHQOQSWSMFNUTNPWUPRTZa_XQOPUVRRSZY[]ZX][VRROMLIKV\\\WROLRY\USSSNKPRROMPTUOMMLLLPRQQLIHLLILRNGBCGJQMBDCKNVX\WSZTUWLHLO<>FDKLHPGW[YQLMLKHELTXVRNL:JVWUSPIGGKUZ\SLPVWTVTTRQPNNUUST[ZSFFNVWQFA;>CLQXQFLMMSZ]XZ\[RLOUWRIIJORNNJEKU\ZOMSRNNQZZXTUNNRSRTQLHNRWVUUUNKQUVZ_b\ONNIMLGKOYYVPUVTPKIC?IUYUMLKOPOVWQNNOWUSVSMMRWXOGAGTWVUQTZWTRPHJJNNOOIGJRY[]VRVURVXYY][WSUV^`_SGPYVUYZ[[WOKHLPTRRQNIOKP\bc^OLXZUNJOVXZ\[WTNMSVPLDDJLSUTUSUWYUJHJLOPNEKRPRSQRSOOQB;FTWVUQKJUUOJMAPUZTHLHSSZbhZIUI?YOLTa\Q_d^[RJS^f_[MXQRSOU]_]WYS\_`\WUSVUUXUSWVWRVRMQMXYTX\]][VUSPRV]Z\Z^egfdif`][\\TOUYSQPNXZ[\\WPQXYVXV]]__c_ZXXSOTYYWWRUTX^aXXWYVWWZYZ^Z\]]WVPTVTOWWUUZYVWUZ\WWXYWVUZ[YXWUZYXXUZ\YXZZWY\\[[\XUTYWWXWXYYWVZZXVPVWXUSRUWRTQRUZYUQPUUUXYXZVZYVSMSUWYYZTYVWUVUYTQRTUZZV[YYUZVNNX^^YYWZVROPVYSNLPUXZPYMW\\YWYVSUWYVVTUVUTSOQMOLWMMLQX\USPSXVXWUSVSNJVIOQPRPQSZRV[VLOIGLLLPOLQUUQLPLKNNOGELKFJOOPPHHFGGGIIJQSOKMPTYXPSSQIJMOOSUM9>DJQPKAISTMGHLMNOMQTMMZYRQUWVVXTLBHMV_a^SF@HMLU\ZSTXWQTXZY[\YUXYVX[_]\SLJLQNPT\XTIMU[WXTW[XRPRUPTSVXWRNMOLHLQUKDIGJMTUXRNQSM@BJLJOQS]XQONQPQQW[YRTSQRSTTTTQPMJPTVVWXQTOHEMY^baYSKQTOPQRYXWYSNRYXHFVXRX\[PLLHGGOWYWONRULBOYUVWXUVWYXYXSRLONNLMPQNCO[^^]WNNTORMIOSWWUSNPRCTVTWTNNOSWWVUUROTRNJMVYOGNUTPPSVUXXNGMUXXRQQQRUWZ^]UMQOQQXYPNMLOQPPTQTWRHPTWWUUPFJV[[ZX\^[VVVTURNQTYTU_d^WPQZWKFFHKICALPUWZ\SIMROOVZVU[YUXWUWPGOUSMKPUSW[\\ZPNJG@OQOV\\\WPPJJVVVSSRQPOMSZZUTTSNNSUSOOTZXOGHFCJMMLUZ\XTWTKMHFEQSTZZWOOINRL@E?GLD;1JKGNH0HIIPORNKOKEKPOUTPDFIHMTPDBFBIJMRPLNDFOVYZ[\WLGNRTPKIMPSOLMQY[]VHFC>AILNQSVSTRXYUSNNQTXZ\YXXVVUURRTXSMQOPQMFAIU^YOSUQPONLHQY\XMGLPUVSZVOKEMQQUTQNLOQK;>LRQJKRZVSSUPROPQNNPIOUVLLQNMRSSRPSVURPQWY_b^TLSWSNUZZWROMRNMQYXQIIJEO\bd^SQTQKLKHS\a`]\VSQVVVSJEMSUURSRPT\\O@=CJPSPNOKORPPMJIMG;BOPLPVQLPLEHKPY]]^VTK?NSbjfQFB;OU`iSQSX^_UT^ejeRTWXUVW`c[ZVKQXb]WXZ]WORXVYWYWTTUTXOPTTYZWXVVYUYYUWXXU_fmh]]`YWUYUUXYQTNRWVPRVVXRXWXW^^[UU^aXTVWYWXYZWVX\YZ_bXUWWTTTWXX_\YZVVMPTWXZYXYTYVWWWXZ\\XZXYWYUXXYY^][YU\ZVUXWVYVUXYRSSVUWW[Y[UWZVZZYWWWY\XXXZVPTVVZZXVSQRURVW]ZWZ]YXZWTPVUUVWWSQSPNQSQUUYWZYXVYWXZVTWZ^Z[]^YSVYXVYZOUXVVXWTVYUU[WQQVUTTVWWUSTWVSQMMRPNSUSQRRQLSUSROOLONTMUTNHIRUW\_\ZRPSQNJKNRQRTVUPDEMNNQURTVVG>KMTRKBDKPXVMFIJFEMSRWXVVUQPLGFHJORC8FQTMIFFOSQMQPRPQLIMEGSYZZ_a]SOJCELLT_hdVOHPZY[`_WTVUVRRSQTYVPQQLQ\\XVRKKPMHHPW[ZRQ[_[XWSYX]][SNTLRUPMNRQHDQVOGEPSRFEKLKQSPRPRPPQPNKMSQPSXXYXSSNMPSVVSRVTQOKORWUTSOLLKFJVYXU^a[UTQUSPLLMOWSKGOXZWYRMORTQSRLLIOTYZWOHIIOX_]TXZWTXVNLOUSLJPMJIKXVOKT]__[TSUVZZUUXUTTWUQWRSWVTKGKMRXXXY[ZVROUTXZUMAESUPMOKRTWSKKOQSOKQX[Y\`a_XXPLNPSNNYWRPQSUXYYVROTYVQFBQQTRSWYZ\]Y]^\UUXVYVRRPV]ZSMLKJIKIGHLDELUXWWYVMJNPQWZTQTTOQNPWSLIROLJLOOQSMPRQSVKLSVTPTUWYXVRIGLIIJHHONJR[ZWVPPRSTWSOOQSREGLKHC;EKTSVURUXTMLEJZ^[TVSPIMV\Y\WQORF@QK@GEFUXPIDHNUQNNNGMVUQME=BIVXTTWVLFFKLQRRSQKIHDEIHGMQQQW]\TROIGJFMagcVPOSWURXXPIDGMPPNOQUSNQOLKQWXXTSTOMLRVX\a^Z`^QJRYXY]]YTRRZ\MDJMTPQGGSTQPIEQSOFECJONMMQVYWZZXVWUSQMOPUVVMFBGINSWUTVWVTWXUSKMTUTNLLRRQRY^\ZYVY[OIPLO[]YOIMTXTSTSRUOWXQOOBJS[XVNILPW\ZRQOQUYZUFKNRKINROLNTTUZ[XZ_a\]VQW[TRQULMVZU\a]YZWNNJIPRLOVYXQHQUTTRLLNVZTTMIMSXTRJJJMI?FX^]^\][TRD=EPYTQVYXXYZ]]YQMOUXTXYUKHX\ULPY[\]XZ[XU[]\]\SKNUWSIIMORXVUOLMRGHQWWWXWRNONPSRMLSPUURKPQNLRRNGCEEQVMFLR\\SNQTVVYYTXWQRPMOL@DJMWWQTYYZYURQPNOONPPKGFEMQQF=GTWROQRSSLFJLJRYVPOPNMJROMZ\TTTE=JHHTSUFPT]YRSYVNHNQMEIX_aZIBEHKIE=BNUNJMPLH?JSJBKTYWOBCDKMPMHGJNRZZVVWXTMCKSOMKNJJLOXTKNWUPDIIJSQHGKIGGMRTPPTUIFNY^[UPPNHHNMKQRSQIAHNNUYWQQPKKQSRLGOMKMJKS[ZQLMQOA9DOWVSPTRLGNXWUJRRMIMPVZ[UMRPQQPNJJSTTOTXSMGISWSMIJOPQROMMPRPF@INOOOSUXVPKQVURMLNNHFKTXVNPUW^\WTYXSVVPOOJHLKKKLJJKKMMGGMW]`_UIHMXZ\WJOUQLQROX_\ZSHOTPRTSWQROHMMFIRW_[VRUSNP`bW=GJKHHPOCHZ\]ZSTUQHFT]ZQKRTPKNNNPJFEQXWRTWXQJHIMWUQOVWUXPPOPVYY^^XYUKCOUSX]WRWUOSUXPGTVSMLJOQKQMJMQRSMFFIQPNLVVLQSRYVIIJKNVYZTLGLQNKOTVSSXVTWTOUQRVUVVWVOKMTWUTSWYZTLOTNNX[_[WMLQQMUXXZZ\]QSSFAOSMIMMOTQTMGEBEHOYXTQSSLEIUUTUVRVZ^XUVTZ`^WVTLKNPMOUVQRTTXXZ[YUIGKJDEMNSPOQSPQXYXWUW[VUSX\\\TLPUSPKEMU^_Y\adZOFISVQIRTRPY^^c_SKMUVVT[_ZOT[RKGO[UXJL[XTTUOVZRFJNONNNRSU[\ZWRXTH8BIMGLVSRNOV\XPNVVUSRNSXXSW[VLDFINSRM?DNWRNRSUVXYV[XQSPOTQKLQY[XGDKQVVU\YWTSURY[TNFOVUUVPMQTOHSYUQKMVRHLPOKMQZXJHJ;Wc^\YL84>JNXQQSYZXNUZXPM>FMGTY`^XMDAFNPMNHJLONMNPMHDC;:DHJVVNHJMNIH=;DGJRUTTUQONMOLILSQSRROOMJQWVMCJOKGCFLKEDMUXWUWXROHADFLRXWSNKNMMONPROLKJLLLIHOWWPMOPNLRRROKMT[ZUJJONF?CMOSVX\[RDPXXOIPXRMKLVZYSKPRSMKKLOTVN[ioaOJT[ZccbTWimqmc]YXRMKRVVQWQYZWVLLVVVWTUZZVTY`]XRWRVSMNQQSVZYV_``YYhoh_a``b`\YVZTU]^WXWTURNNVY\\_[ZZZWUZVXYYXVUWXYUYSTWVVSUQUYZVXXWZ]_`a[RUY\XXY\]XXYZ\\]WWRSXRVWQQTVUWUV[WY[UQWZUTZ\XTXZ[XVZUX\^ZXZXWOUXXVYXVVZYUXVVVZVXWWWXXUWWYUXQQTYYSUXSQSWXUWZYZPWNPY\]\^\WWVRTSYZ[\[WYZVVYYXXYUNQUUWVYWVYQOQOTXTTSRTSVYXWVSRQPUWSPRSROWTXONNPMJMLINKJNNTNJPNOQX^[SJHINNQWTQWUNKPYZ[[WUTPV]\YTSQKINOHADEGOO>HNNMLKLJDLOMIFLPJ>BQURROVYULKJQVSPUWOSWPIJQUUYYWVSUWUQPEIQYZTTPKIHLOMRVWZ\WSLJMSXSRRKRWTONNTLSZUPKNSTNTZWPMSUPSQMJLIDPHCOTSUUQNGNXZ^YNFEITSNILOMKJLHOTVWTPRQSVTURP\\UPPPS\]WS[ZLLPMSW[VRRVRRYYVU[ZSJMLNUQKSRFGKIJMPRQQKIIPQJKMKNNLQRNPRWXVPJHCNUZ\WSMMPIDDNQNBAPYXSPVWUPRWTNFLRXQQQNPQKNOLVZZSVTU[[UJSSROQRQOX^[U[_bYUSTQJCFLIHTZ[cdYTUWVWYX[ZYZWPQPMOQRPR][SKGQTUONLTTXYYVOMISWSMONA38LSIOUTMML[`bTQRW[Q@JX^^WZUWUMNYWOJOKJOOLRVURMRXVURMRQRTRPSSUVM@@IKPRYWTPNPRTYZZPIQVTQZVNV\ZPQWUMLOSULISSRSVXWOHPKQYZULH1PXXL>=OE29DLKMWYM9FL1A=9ISMIPQXKMRTORVTQSYVFBQZ[[a[QOOIPX`_[XWY\YSQQQRORPLQ[`]UVSQNNNQVWWUNONW[ZZUMGHJOTUTSVYWTQOMEIV\TKDNUTNPQRRRQZafc`[RQSUVQNNKKPPSWXTUY[XMJIGQTRRSNIMPPNQUWTTOLOPLISVVSLMPUQLPTGNZ^XUTUTPKIRTOFJPTNPPOOW]YNNSSPRRSSONW]\`]\WUQNV\[SSQJSSMNLJLMIP[\WSPUY\ZVWTVWOOUVVWNPX[[YPKGIKQRSQMOL?CJIJPXRRNNVYZWVZTLIPORSUS[YRSQNTSMEDMCCTYYWTQIFLPTZZW_\SFNO8V]WPMZ[YNR^c\__^WXMaca`WTTXWVWZYPKRWQR[dd]WMYWNPTUSV[YWRTTY__W]hg^TTXab`c_W^^_X[\XKXXUUTSTXXXV[[\]\\UYZb__ZXZZXVUSTOUV[^ZXU[_ZWYZX^WYWXUWX[e^\[[ZZWX[Y[[XUVRTWWYXZYX[ZYXSOYYXZVXTVVXXWVYVQSWTXWVVVYYZ]\VZZ^]TYb`WOOQV\^\\`XZYXY[[WVWVXXZTTMNWVWYVXYZYVXUUSQRMPKVPUWXSUVVRPTXWX]^[VTXXYUUXVUVZXVSZVW[\\ZYVSUXWTXWURYVXSWTZXXSMXQXNKVVSWWVUSV[TWUZZ[SUTXURNQSLNPRNJROWXPNIGJFPUOMJE7>GKLTXYZ[RSNKFPSMMNVVUTUUOKJMMKHPSILOQKJMMIIGGMOJDFOOQROJJCAHGGKLKKPNEQZVUVYZ[VVPIGGQUTUSOOUOKMSTORVYVPRVJEPVRUWVTPRIKRVV[URQJISRNV[_\XYYVQOKMPTYSTTVX[XTWUMMPUPOINNKILKIIIIWZVPMNRRNGBDILQJNRUTOPHKMLEHJELPOVXUSTXYX]]UKJIPTRRSX_^]XPSPJKOJEINPWUQRRNMLLUXWMOSUSUUTPLA@FINNHLQMQROMQQH?IWTPSSRNJGEBDHOVZ\`]WRQSWSY_cXWROSYWPACJKKJLQY[URLLX`dbYMIJRVWRNQVYX^`[TNNUVYdidWHMNKJMRT]\WOOPRPOPRRSOFEPWWPPNRTTPUVVWUWNKHRWXYSRSMPXYUVTNGPTTTSXWYVSUWSKPOKDDGLLLOPSRONIGINMPRRPNNNIPZ_]TTYXRQVYVRRVUPQZ]WRRIJT^bXMKMKLSTPQMIKMY^]YVS[]WYUQNIMKILPLGOQWV][PJOPPUL=?QKLPJB@]`^bac>8BMQSIAJMOBAFIBCS[OGLOLFHLLSWPFOMJQUTVWXQNRRKIGHFFFLJNUXVSLJLLLHGQTSSJDBHKOQNHIIGFOUUUVWXRMMOJHNWYQHHMLKNKLNONNT\eie_YVMLIBCCDJQW[YWQRWTNDDLUXRQQNGCAJOSUSNGFBNTRPHLLQLINSSKIB;?HONKNTUTPIIPSMOSQOSTOJKSVVROIOSXYVPJU\a^\Y[ZVRX[TKMNMQSRVQHFIMQQTWTRNV]`[LHPUSOUUWSOHNUYZNNRPUSNMNPPOOOJHKOTUNKUZXTRWXWPMODALOJPWVWRHMOIBA9-@JWRPJHGOWYZ]`QWMFL?=/XhfTOLIWVRRgh`USTUT`TT`cWSVUPJUPONSVUYY__\YUXOOQSMLS\\[Z\XX]c^Z`a__^Y]a]]YYW`]VV[YX[bc_`^VQPPQTXZX^\XKWUXXXXXYVUVSRPMUVVWYWWZTXWW\\YVYUQMT\^ZZbf`XYZ[aa`YWXVXVUTXY][][XUUTVXV\YYUV\WWUWUXRPSUVZV\_]YXZ[\WW\^WUY[VYUTX[^[YYZXYYVVYWUZ[^]ZXRPPUVWYZZ]]VXSLUZSVWSPQW[WRUWXWPNTZVZXZ[ZWNUWZYWYSSTWYPNUXY[ZXTRQSUUVVQWYKNLOYZWWQOPNKJLPUVWWWUOJUZZUOVWTVXXXUTNRVRPMRPOOKMQTPOPJJ@HLIMUPFKTTKFNU]a^VPKKLUWXQRVSOTTTPJGLOOPUQTYXRNPRVRKMMNMLKENQUSLIEFHGDEKMG@?MZ`]RPIIRTTNHJOMMNKJORSQDIWYUNQUSILWPBLTYQLIMRSTNLJUY\^[N>HRRVX[WPNYUOMMV\PSTQT[`_XVTKSSRWYZWXQQRPMNMPUZWVOLPONPIDECGFIPOTXTRNROGISOMMQX\WQOUVWVYWRPNLRWRHMTXX\]\a_WRKEJPVTUNPTPTZYVXXTPJHOPLOSPFHIPVVPOQNPQNJNNFISWSNMTUQNJKJKKGCERXZYVTSMORUTQRWUYZWQICAOWYY]]XMKLOTWX^]VJOUYXVSVYWT[_^ZUQPURamk[LHQVUUUUTYUPKLLKOSUW[`_QIQRNSTQSOLOSRW[ZXRLNUXVQRWUMOTWWRJISRPNPNWVRSXYQTRTSPJKGMNIRTUYXPGKMIFJHBJMMFDU]]YVYVOPXWQLMZ[ZY[]SPPNMW^b_XSSTPSSQQRUXZ\\VPKKW\ZUQQOIKNPUSKJMXZ\ad[SWSUUVNOUMKDCMYZRMXdbbDHOQNK?CHUUNJGD,;FIKC8=FGKJQTVRROH?GLJLPWYUJIMIHHHINTSPPW\_bZWSOLJDENLHJPV\[ZXWZZRLKSUOKQSUTHCPSVVNOIFRXXQLCDKOOIGGMNLFBBNQLHHOSQONTWVMLLKVYSNGHONTQMKNRTTTSRUVYRSU]ZSWUMHMOHMQ[^]XSMNMHKOQMNMX^]XSVUPJSVZWTROOXXV\WRVVPNPMJPX[PHGGIKIIRXMFNSXXVRQLMPLNOZ\^SHJNLBB61MYX\PEA58RYY^d\RKNXPGBIWf]TVLWKPTWYTZWKTRUMXZXMOQSUVYVQTW_]]`Y[]^ZRWRUTXSNX][XVYU]\^^bflgeYWX^XXWSYYVX[[[``^]YZWTQWNMUVX\]XMMQLXNXVXYVXXWNVNNPWZ[XQVYYZV[YZXXVUYWXNV_b`XWZYWWWTU[ZQMTWWV\ZXYPMPXUKOWXZV]caYVYVYXVWSRYXZ[YWYSRXUW[a_UPWZ[VXVVZYYYXXYYXZTXVYTXXYSYWVWWWUXY[WVWXSPOQOPSWUUURRWYXXVQTUYVVUYXVSYXPTOTTQRUKQMSVWXYZXSTSWXXVUJRWUWTUVVTXTTVTNJLMMTUVVWQVTVTUOPUV[WUSMUVYXTYZWQOOPKEFGHKOQRHLSRKPZWG?OVYZ[SHFHOZb`UIJIMUYVQHBJQQQPIEOSMMPSXTUWXUSVXLCLTUQNJLRWVUU]YQOIZcgbWLGNTRMONJFFJJGMRNMJMVVNFQVULKQRMMY^[NMQUY[WQUZ\^baUFLMPUQSTQS\[IKQUXVWQSUTY\ZQMLPUUPSXY[XRPPMPLEBKLMW\VSORUQORJEEHIMTTOGGLGHLNMNRRPLSTRRTUXTPOQPMORPPPSOOTU]eieZPGKPRPPPPRQRWVPINQOJDHIKLUWSQQSXYUNONQRJPPLJQLFFJKOTOIHHMS\YPPSTPUWWYPGMQUVRRRSTQMNKOUT[^`_\WJGKHJRTJKUYVSSPOVTQLSTYUNPRR_hjc\MNVW[\UW]`WPGBCOSVSX^_VRRKKV[UNJNVTOTYVVVSKMROOPSVRQSZ]UC@HLJMJRVWVUSJMSWXWQNJIQTQWWY]\PJOSJEGHIKKKNLNQVZUSMIIRPGAHPOQWYUQMKKKOW[[VMOPQYXTRVUWYTNSOIGNPMMRTVVSSQQPMQW\\^^^VKNTTNLJTZ\WODL[]WHBNZ`XNY_UGOVZUTAPYTNJHHHLHCHRRHJGDBHNNLHQTVTOQMKPSNJKJDFMPKINOFLRUVVSSPLMMLH?QWUROSSJHLKKSUQMKMKHPPMILLORYVOTRUOQUUPVWXRRY[SNX^]YYPMMQVZWSSRWYYYXUXUQRPVWUSTOSORWZVXSNSXYTQWYXQOLFEFEMRSUOQUVW\WOOSXWXW\UOEKOK<>CBNXY[VKLG4FWLTae]CFJMRWSLKMNLQQOQSOKDEHJNPNHHKJEDIKLNPLKLRPKMRTYbf`UQKABHPY[XUKIFEMNLPYXQHMTPFBDIPSRHEPXYPLER][NHIOROOMNNNQMLJIQ[WOHMRJBIOPPRTROSTKMQKDJPMJPURORPNLOMPUXXXT[^WPMXYXRNGMRVWNOSWYYY\_][ZUPNORNQQOSRKRSQTVTSSSQQMTUTTSQUNFKPUUQILMORSNU[]]WPTODJPUQHAINPMPVPKNLCCKQMYd`LFPTE8/elcP?UYWRNNWUZ`aWOUX\USUTWXUZ[efebhegXTYLWUOOQQTUWZSWXVUUXWZXZ`efnrnke]UW^_[\^_b\[_c_VXWSOSXYUXYWU\^WWYVVWXVWUPYMU\XUOX`_\`c\XUTZVZTORSPUVXQNQX^da\[[WYWQQYZYVUUTVWLPPUUYUUTYVWY[XVVXWNWXUYVWWUX[[[X\XXYZYXVVNUTSVWZVSUVZ\ZWTNLWWYWWSTYYU[YZ\[WURPVXY\XYWWKYQNQXTUXYQQWUXWWRQRQYOTVSUXYUTSTW]ZUXVQOQWSZMSVXYWOQUUUQTWUTTZ]YVWVUXWUWSQX]aaUXVVUPNILNNVWUXTVTRMONQZWWVWUNH@OQMOMGGLOUZUHMQXVELQPIF[bcZQOHIIKOTXQSPPSXVOLPTUNMOQOSWRRSODHOUTOLIGLUTUSTQQMRV_cc[RTSNTVTN@ITZ\\TSNHOVYXWUQTSSMQUQJKPXYUNLPSPNMUPKMVSMPRPRQRPRXZ[ZWJKSRPKJOY]YSNRSPJJJJNRTOQTMGKFJVWSOOT[YPPPGIV\TLMMP[[XUTTQMGJMRQRQPMUVSSYWLT[\XUSVOMNUVWKGEFMTZWXXXPNJNWTRMFIIIIJNE?EIQVPMPPPMTTXRKHLOPQPNKMQPIMUVRPPMIMDHKIFOSLHIIQSQPSZ^[XX_\XRTNOTW^`\RQWZSROGGJHMQVXSPSTTWWTYQPUZZWVRUfy‚reRJFMUYZWWZVXXSSUWTTOUWMKRWSUWOHW_`[QQZYXSQRPNRZacb\UNJJQWXWPGKPT]\UQQXZZSQTOPOSYVUWZZXTLJFNS\]ZUQSVUSTWVLFOVXTWWVQNSSOQQOPKEN[b_ULLNQQNTXRRORURSWRNISWUSLKMIOMROKJGMTTVVNLGOLLJGFQNKISPGKX]WE07LY^?EFOWTOLC5BQTSOC<>FE?IQYUTVTMWSFMPMOPUQRMJPVSKKMOQSRL@@BHLMMQLMMLJMMNOPSXTXXYUMMMQOONWVRHFKMKNRXULILOJINOUVXRLKPKMKCJYhhfb\PIRWYXTNPNKMUWW[YPILOTSHDHNOOPD?KRQNNJPYTKGDMPJDEINROORRQMQRMFEHLEEMSOPVXUYXVOOLHLLEFPWXSUPOUSOUTNUSPT^^VRQSPQRVWTRQPPWXVUX]_ZXYQGA@HMPLJRXUVVRSWXTGLQPJJRRTTTTVY\][VIHOMJFAESRKMRJKRTVYYSMGLMNNPPLEDC;INII@DDFUb]ONQide[cb[PQS]kfeelldZVXUVVXZabY_aegef_YXVXXPWKRTZXQXXSQNTUVXTVWVZ`mplgb\XUUZ[UTUZ[YY\\][UPNWV[WVYYVYYVSVVVVXVYVYUYWVXTVXVXX\d_WSOVUWXXUYXTWXVXYV[YUZ`b\XVUVYWZWWXZXYTVWZ[ZZVXQVUXUVVZ\ZLXTVXUUXSUVXVWX\\WZXTWVXXXYXY_[YVYV[]YZUWW\]b_YTWUZXWOOXZYZVRUVY\[XSXRWWYMOQSVYTRUXWSUVYVQTTVXWWVYWXUQRZXYYYWYSVVOXMWXUVYWROTXWUXWY^\WTPSUWWVTRVXSZ`]XUSQKLVLTXWVUUUTVPQTTQVSJKNOJKLTXWUOGLVXWZSSPLPONQTVPOZWPNKJOOSNSXZVNOHGMPJCCKSRMOQOTTOPPIELSSOGHIEJRSSVSSRRQ]\_ef\\[TOLIPSX[TWTPDJPMNV\\QNOUTOOQOLPY_b_PDISUVQLKJPRVUUYYRQXYWSURWTHLSQGISSUXSOPRTPKHOTTPLQWTQG@DQSJKJKPWWUQIQZXVPNGFNQJOTROLOTSNJNTWY\\YVUUSQVTTJGQRPSZ[XKGGLOOOMQZ][XYZ[UMIKKNMLRWNJIHLNMQRILRSTRJKMJLMQJKNPRUVOTX[\ZSXUOHDEGKNHDHJQVPCEQZZZ\]^\^]]SNPSZ[]YWWW\YTNHFKNU[\WQNPUY[[YTUVSNQTPZq…Šˆu^SJKQSUUVXUVTR\fcUQSQNMNSXXX]WPMSTNJNURVXWUMMLSTQQOLNOQTTPORWYVZ^YSOPTZ^\YYSNNTY[VQNKKQQNMLSSVVTMNVYVSONHIN[^ZWSPNSVPDHQNNRRSY_ZOFHOVRLNPQMLNSUWVMHNVXTNJLJMLOVYVSOWZTPQPOTPVXUCGVXQF><>IRYZVDGJT[]\TWVXUOQE5.EPUL8;KSTQPRZYTQDQSOW\XPNMSTMIKRSPQSOMMRQJBBJNJQUUOKKNNLGEHVSRPRRMJLNPNHRXZRMHGHUVRVVUQORRSTVUTSSPOMSXTIHV]`eieUGMWYVPLCIOSSTX[VLMMNUVPNQRONPKDFNSRLFRVRJDINRQJKPUWQTQOMPRRNQRPOGBJLADOVVVTPNQMMLOMHPUZ[WROVWSSSOORPIOVRJFHQSRVUOSUNJJRTTY]\UOKJMPJIMNKJSUWWZXQNQQGPVQFHPVXVTQTY_^\TGMPNKLC@MQPLOOGMLSXXUMJECMSSNJMLLOUPJDCIQ>PYRE>VIP^]QGNJSLVPMVVRend\]RQKOVUVXV[a\ZTUWTX[YPTYQYV`fXQUYY[YYXSPTWVY\a`]``WUXUVYZYWUW[[XVUWXWW[^[YVYXWUQSWYZ\YXVURWWYZZ[ZUTXWWXYYXUTVVUVVVVVYWXZWU\\XZW^b^]]\VYXYWUYYYMSRV[XYY[YUX^a\XUTWUYTX\UYYW_ZYVYRXWZ[[YXWYWZUXWUYZSUYX^[ZUUWXY`b_WXYXYZWWUU[ZZVY[VVXTZQTRQTPVMSUYUWVURMNTXXVWYVXZUVZWZYVQSVSSY\\XUUPQTSOUUUYURTYTPPVUWXSLUPYXWYQOQTOP\`\VSJRQVSVVTPQSUURPSXVVVXQGCABHPXWVUQMNSUSROQNGFOUZZQMSSMJQQNLLNTV[YQJGKLQSTM=JVZTOPHHKEEMNURNKFBJNIMQOMMOSQKSY\W`bc_YUPJGMVYOG@HJKQYTNS^]WOTTQOQSTWQMX^^XLKRWZXUSKILLPTRJKR[YVYWTXSKQUREIY_]UWQNLKSVRGHPROINUXWTMDAHCDMLJPTTTMPVXOIJILSMNX[WNORPJLQVTRSSSVWQNQWXUULJQTVXZ]WSRMIKMNMNSVW[`eb\RHLNNMTYWSSMGJLSVXTNMVWRPPUOFFKNORVTQOKLSSVVTYXLGAFHGONRSQQOLGBIQQWXYWXYYVPPTUW[ZWWZZ[USUVTPMWRLKLEEOTZ]\VSRMLMTS]w‰ˆ|dVPNJMOZZUMKMO`ih[RSQLRTUTRTQPJKJLKJOUQSY[YXWSNKKOQQY_]YVVXZ\a^^^VRKLSYXUTQVTW\\]YQNKOUZWRPNNKIJMTQTUUQLONSTXSSNPW[^VFCLMLKPMNOQKIJKSSPPNINJMRTVXUNRQOHCMMBCHMSVTNKTVOHIMPPSSUQDAPVTIHEHQZSMQRTTOWPQOQWRQIJPVTRW\RMQUWXQPSZWTQI=CNQSSQNGNUWNJLNPW[[QLOQOJLQNJNXYRGNNOOMKLKROLQRPGKOQQNQVTTRLADOTTQOTZZWTOQPQNPRPLHKVTRTWSIL_hbOFS\YSKHFINGISWRNQRONRRPLLJLLIIKMSUPFV\WQIGKQPMMKRY^_\RRQQNMNPMFLILIHJNOX[XNHHKGIKLLSRTY\SNRTJNKNNTTNHRQMFGMUUVONKOTPIGIP`fd^VOPTVURSUQUZ_XUUSLIOQQPPPNOWZWWTQROJSWXPGIFFLMHONPPPVXNADRVTUOLKTTOH>:GT\[_WMH=ORLGI@<<8BITOB_mMUMTZebO]bXSWOMMVQJVXRVVUQVWUU__WPSX]VRYd[VZ\b^YUUWUUUUV[Y[adijf_ZYZ^_YWUV[XXRTUW`da_ZVZXXXXTUOY\^VYRSVZWWZ[WSNNVVVVRWXVVQQPTXW][XU]]][XV[YVZY^^__\]ZWXWXWTMV^ZYYV[[[\^ZXWWYRVWZX\[VW[__\\UMTXZ[]_^YXWMUZWUUVRSQTXWVTXUXYWVUUZ\XZWXZVY[\Z^X[^]]WLZXXPZZVNLNPMQWXUSTYUVYVWVWUPTQVSUVXWVQWPWZZXWQQYWOQUUXVVUYUQOKLKRTNOLLVVTUSTXXU_b`WQMRTXWXTOSQLOVVUUVTMWXTOLLLSV\YWVQJBSSSLJMQSRUQROKLPLLINLIKRTSPSQKBHLMNQSTSX[YUOOF@KJLKQUTPOJHKNKORVQSIONMLWVSPZ][KJLKMTUURNJMQTTTWQV[]YURPRYVTVVOCIUVVOJNX]ZUPIKJKKMLOTVWSSRUW_WLOQRKKQYZYWONTSYYPG?AMRSPQMKLH:6>>AHKKMOLPOPUYQACGPPOS[\QKNNHJOVXURWVSGGBGLRXWVVNLNOTWYUUVNLSYYUMIHMS^efb[SRNKIJLNPPMHGRRORTONVWRPQQOJIPPPUVWKHLNSSOSVUIDKICIOUXWTSOLLKLPONLRNPSZ^]]WXTOPSVOV][WQOOTVOMPRLGKHLQW[^]^\VMPQOY^luzqi\VTOIRXYVMNNX^ebSPSTUWSVWQHBGNMHIQVTSRW\YXXVRPSUQPQW\^ZRLNRVX[^_YVUQRUTOOUZXVZ\\WUVSSW[ZXQQNNPLJKLLLQNIGJPSRRPNV_ca\VOOSRPTUPLNOSUVQNKNMOLOQPSRQRRORVVWUQLNNHOTTRLMQVXYURPPTQPLHPQPONPINTQIHGISSZYTYM^]VJFIMPTb_ZROORQPTYUQOOPJCLPOPRPLGNQPKOOOS\[YXZXULRVSNPPRNGJLNPPNGKPNHNUTOPQRQQTXWUQJAGPTRRJMX\ZPGIIOUTSVSMONLMX`ZKGR^_VPWZYVOQJIOQNQUPTRMKJJJJKLNMPSTQQSTSPSZ[TNLKMMPSMMPRZ]ZVWURPRNGPUTQOPQMBFPYWRHGQSOGLRSRVVPNOOSYYQRZ\QTROLKEJRSUXWRSZXOQ\^^`a^[VV[XQPQSVW]ZTLPPI>EQMJLRSOMX[[TOOOMQXXSJC@AJPPKJKMOSWVQRWPOSRKLLMEMRLLWYSQRH;;JSUL8MNO3OY`YXObaURR[ZMV\TMXWUQWOXNPQKU[YYJKJQYWVW^^[VQ]fa\]aY[ZVV\\UPKTZ[Y[cnutsja\VVXXYVQVUU[[[^c[WWTWWUXWVTSKWYWYWW\][XTXW]XVRUYTWUVVVUWZYYUUYVUU\[ZWXYURY\[^`d`\WRRZ\\UNW[ZZXUWXXXYSVXXWWYTYMXY]\TWX[ZURUXZVQXW]]WYVZWTUTONQRZYZ_\ZVZUPTU[]^]XXRVXYWWWYZ]b_TTYZLQVZURLNNXWQTWTTRSWWZZZSOLOYUTTVYXUOPOYWSUQQTUTUYVWTTUVVSVSLMMKLNXXTWXTYUUXab]\ZVTQVTSVXTTVVUWVUXRNKJKLRVOOLRWVVUWYWOLOTVYTUWYY[XSNHMQWWVSNHNRRNMQRLDMMFJQPS[`^UOJIGLQVQRSUUTVUPQLJHSaaWORUZXXWSPTWQPQQOV[[][TOJKOSWQMQRSXRPNV]YRRLJBNNMPPRST_]TMOJMTXTSKDKMMOMNZ`]MKQSU[XRUXRRWUPNJHHGHORUQMCIJFMLGHEIOSVSNNNRUMIJJJNORUTMDLMLPTTTSW\YUQEDRROQUYRK@GMT_c`YSONMKHJOPOILOOMTTOOQNMMFFCJNQOMRQKLLQROLMOYVI@HKHLMLPSSMPMRQNNOGHHHJRVU[\YVQKQXXPT^_WQNPRSTRTNIEHMPWXYZX\]XPSTY_deehke`Z\ZSUY\\\UQRZ_a`WUW[UNW_YWTQRSOKHQWSLTUX[\YWXVVRMB@IPSOIINJV]\\XRTRQTUUTZ[YSQYUQORUUQKOUVVURSUPLPOIPRIBHOHMRRNLWVSNNQPWTWYZURONTSTQLHFPRPKTRQNJKLOIVVTQLIMMOUXZYQGHSZ\YRWXNI?HOXXXX[UNJRVWQTWXQNMRROYa[QTZSMWYSNWRFGPONIGB8BGFALROG@GQNIMDMQURVZ\^^[YRLMVSWURPPLGEFEKMMOOFFJMOOV^\MKMQPRPG@CLNQNBIWY[TJJLRUSNPNMORPMX^\OFKMNONQQSVYZWOUVQOQSUOJFLJA@BLSWXURLKKLKIJU[[WQNMKQWYRJNV[ZXUUPRTRLMRQNLMSOBFLMONQSVXQIMRUSQSPPVSU^`^ZZURTTNILNW^^XXQMRVTS[_a]YZ\WPTQNOQRRV\Z[TSOKDJUYUNNUXTKDRUQPORVUQOKFBCLMMPKHIKKRPNJJPOJMMMJIEBKWXRYWQNNOABOZULOX_^XOb^__]SW&RVTVK\aWMTZ_b]WQMNLPUW\OWNYVSYUU\aZNU`gbd`^XV\_\^ZVXV\ZYYWXgx~{rhWYUYZa]VUTV[]Z[]ZVVSTUTYWWTSKXWYTWV_^Z^[X\a^ZUYUXXUTRQY\aaWUVXVWVVSUVWPQXWYYUUYYZWUTTXXUSVURRYZ\WWZTLOVXXXWXUQTZb`[UVWYZVUVWWRLY\\WZYXXZZYPPPQOQZ[WPPZXUPVYY\ZXVWTXWTY\][WX\_YPOOUZZWUTSOZWNWYUXVYTPZ_[YTWXNQSQSTUXYYXZYZXZXQXUPMOLNPQTWRNROVVXPUXUUXWTSUYMX^eaYYWVUZYTRTSPLNSUUXWUNQRSTUWZYY\_YYTTPNVWVX]]\\YXXXWTLDOYYTVUMKIDFILEB@HMNONMPW]XSPOOOOSRPVWUVUOMPMKJP]jmcRIT_`[]\UYXWYYVUSTSWYXTOEJSVTLNOW[[VVUUTVVRNVYVNVY]YTRWYWURIQSSPOSXYTUULUa_[PPONWUGKTKMRROOLOQTQOMROMIKKQVZXXYRSUWXTRQLKFKMLNSYYWSPOLNRUTQQTYZYUNQWYYUOHNZYTVUZ]aa[TNRTQSQRPJGJONORZ]Y[Z[XRMOTTSUWSQNUWWYZVYUSKIIKKOUYXVOOSTLMPOPTIAEGOQLKKLMNRVXXXSTOIKMPSW[YYWOPMPUSNVZVOPYYWSSQJKLNPQPTSTY\YTQPTZ\^XVU[]_`\UUSRT\_][[[]`aVOO\^[_\XUYYX[XVRSXVGDJNYVJOUSPQQMHOQSOGHMINWZXWTRUSOPORVWRSPKNJMMLMOQPRVTPQTYXZVSKQPKGNRNGOSOQVSPKKUZWWRUSVXYSROLIOUUYUIRV[VOOTUQBCTWXWX[`a[UVVNGFS^a`^^[TQIBS[^W\]_WTVYV[]cZ[JEHJB5j\MLPPS\SLQUUPNMMB89=?GUVUSSTJBFKJGMFBKJMHKUVUSRNHFHMPRLJKLEDEDGQUTM>AGHKNKQWPKIBJQPNILKHOPEGOMGKJGGLNHFNKJMMMJMTNA@KONRKNPQRRVQLMMILNOQPKOROMKHMWYZWPGFFCBEGVZ\\WUPQQPSQLTUY][TOMQTQNKHHHEHTRRWXUNHMTUPNJRUSSSQNMXURY__YUIAIPPLMNRZY[YVIGOQQW[VPRWXWSSKJQYWTWSQQUUYURQURPVUSTTKERRPNJOXZWMDABLTUNOPTTQLLLG?AQWPEBJLG:GKOWc_aacTRS?JSVZKYURJJU[\XXUb`]ZZUUWUTWW]WTY_\ZYXTSWVQUY`^]]WWOTUW[WXeole`YWT]^[YSWVV_db[XWQPOSRUNQV]VWX^\WUYVTWZVRUWVVWU][VVYXWXWSQTUTVXTSTYTMOYWWXZWVVYXWbbYTUZ\ZZYVTXSUXWXTTUXNMVUSKRXUYXVPRX\[VZ[ZZ[_`ZYWZZYcdbZVXX\ZWTUWTVTTWYXVWPZWWYXR[]XX[\RMWTQUYVWSQYXPWZRLYTU\XWPUUTOMSWVUTXPUXWURPYYQUURSWWQPVXYVVTWUUW]_ZXUVSKSNWUMQWWVWb_WPPVW[ZXOLTWSPMIWUUSTWVXUUWVSPPNTWURXWNFHNKIQNOUTSXTTYXLKPLKFKSUMGLLIKMEFQRQSWUORXUQKDGLLMMQKHGLQUTPUROU]baYSW__XQKGMOKRW]\UMKVY\[XRLIQY[UMMJQV[[XZVUXWRNNMNSPQUPGADORTVMAJRONSVXWOJHJMNNNOQLPPMMNQNNLNONOKJOWZZWTQLKOMTVQMPPRWXUOFCIGHIHGMRQMH@CNSUU[[WTPRTZ\VNGHJIILLTSOVZWQGEMPQQYZVNLJJSZ\WSSOHTahd[RPWY[Z[ZXTPFQUNDMSSSWWRNITSKHLNMKNKHGRVSK?BJNLKRVTP[]WPLQWUTOGJ[NPNJITSUNRSRY_]ZVTQOOF@ALSWYZVOTX\\SKPMRXWWSWXSX[ZQLKSWUZYYVST[\VSXWUVWYTUROFCIKPNQY^`XRMMJS]_[ZVPSTRVVUQQSSVUYWSNNPRQKIRXYNJMVSNJOTWWUVXTOJNKLNJGDGIKLQURRQQPQSSSNORJOOLMOQPVYX[^^UKQXYSNKMXZTFIUZYYWTNKMTRIGILHFNNLOWTIEJLOQQQRTNLOPSVSONNPSWXRG>ILP\`WSR>UWZ]ZZ\][VLKUUXOMTVNJTX``ZRTTMTXVQJGXVKJKNKJJG@FJPOQUWTPGOYYPGJKLNRQRQPUSRWXQF@DBOMPSMHPUM@HPWTSU[\YUVXVMINWVQKNORMIQU[^a]UNKKFONIKQROMV]ZMGTXZZXVQPWWXVSTMCFHHUURQVUWXSINQTQUPIIIJIKORRVSSQRPNOLJHMLF>FKLLZ\]WSVWSPOJIMPQLQSPIJNNKOVXSILPRSSPOW\YZVPMPNPUZUQRQSUXZYVUSSQPQQOOVUSNSVZUUX]XROUTSNNPQKKPMQKJMMRY[SOU\]c^ZUSWWODQVV\YQL^_Z\TSQ@@T]Xef]SPOWKMUWWWW_\``VJKRKSX_VSS]^ZWXKSVULXQUV[`ZUTTWZW]YW]cega[WYYXWTUUV`_ab]UTTVYXZYT[ZYXYZYW[^^^[XYUWYROTX[VRW\YTX]VUWUVWWWXXXVVYVUVXZWVVZWY[^]\\YTXYWWTUWX\^[ZUWWRMRTSNV\a^]VYY]^WYX\\[VZ[WXZZURWY\]YXZ[WQLSWZ^\XXVZYZY\ZZ]]Z]`[XZUVRLRSRQQVWRMWYWXXSSRUVYYWXWVQQVXSRTVVUSPPVWRNZNRQVVXZOULRTUSVUWUY^\WRVUTWLVYSOXUTW[`YTSMSTVSUUXXXSUTWYXQUOSX\VWWVUYYZYXUXUMFFOOLLSRTOMVUQZ\YQLPLAIQQH<@GNMMLNRSOOLMRVWWXUPOUMENYSQOOQRVTNRNOMOWOPUW\YTKHHJQSWW[VOUZ`\_ZWNB@OPLDMRZ`bfa_^YY[TOJLIOTNRWUNMUXWVVQPTVRSUTUWZ]`TFGNSVROQQSNNSULSRQPTTLGNPOU[ZLAFGGTUPLNQUYXTOMQTLIGFLUVXTNABOSRTWTTNETVURLGHEHMNSUQQ[[XSRPMIGDLWXXUQOOSUWUSOFKZdbWPOQUQNRVXWRKGQRJGMOQWWPKEOVMOUSRQOJGJUZ\SKFFNTRNNMPRWRODJTUVPHOV\IEOWZUPLPNOQWXRQPSVQHGHOSXWQV[Z]bc]YSSQUVXVVT\]VSQQOSWNOHCHT\ZNEQYTROV\URSPKOQNKLV^[YRKMQPUVNINNUZZXQOQROSWZSMOUXYPQLLMSQQPSWVRRV^a^UQWWSLQOLJJHJLV[ZTYSLMMMILOTQQSIFDNTZZWSPQXb`UKOVSVPKPXYULHPRONJLRLIPPDJJILNNMLV`_SQMHQ\_`ZYSMMSUVXWWUQKBPRJ?DOWSLIPNDLSYYVYYQV[TKGFKMOSSLLLHPXPNVVQKKLMKFORLIKGIJHGEDGGIPYYUQNUZYTPIFDCKMNOVWSKJHNKKFKGHCDDBFOJINTPNHLWZQOOUVPHHNOKQQPOKJKLLPPSTTSKIGFLPVYPHQVRNQSTVZ[RRY][QKOQOJPSTXZULCIMRQLLPOSVUECHORURPPKMLCHMLE@=HMQSPKJIQVWTXTSQLKQKCMSOOUUTPTRUUW[VSTWWRSTONSUVUQPNIQQTVTRTVWZ``[VTWTPLNLMW[ZUSVWXURSYZSMQQMJGITVUSUSLDMNUXOVVVW\]`O?L]b^^XY]de]LOD;+@GOOCF;AbjiJRNVKVLTRQY[]WXQRRVNW]VULQVV[_[TXXSVNTTYZ]YXXSYUXXTMXafhigXY__[YYXUXXWYXWUSTV[\Y[_ZWWXXUSVY]_YWUWUYYWVWXWTUZ\WVUUVSSRVWVYYVY[aZWUXXWUSSTZV[_ejd\\XYWXVU\^_]YVXTRWXYWPRX^`]VWWYWUWX`]ZW\`^YXXWPPRUWWWXYVWQSXX]__[YWWZXYWSZ`a\VYSSWVQOPRUVXXUSUWSWWXWWOOVWUUXWUXUSSQQROOMORVUSZXWLRSVVVRXYLRRSSPSTWVXXMUWYYRPSLLTVVYacYVTWUTXVVWWZYXSU[]YYVSKVVVU[\WPYUMIHHLPUVXVROTTQLMPSJIPWZUSPLOQOMHJYZUKMTVOJMMFNQOORVPJNNHQSRKNTRMPVSKLLJKKLPVVUXXRIGFORRQUSJKURQRUVSECHJGKMNQU^__Z[XYYTMUXUZ`a[Z\TLSTQSVRQTVUPNOOSX^a]ULLPWVNFHMTXVXWMOJKSOMNRUQV[[QKMGGRWURNOLLPONJPVTOMMLNSRUL?IXWUOKMNMQXYQNOMMJKOVSOMQTNMSVLECHNONFKRUVVQRTSLJIAIVVW[^[XVSTVVTSSUQQONMJLNRPOILMNQWURTPJKPRRSOJCEMNJMUXXWUY\YLOQSVSQRKNJEJUVMIPWWOLUZTMKLRRMQUUTTVTPONX^ddc[RDCQX\[V^bXPJDFOUPNPORZa]UORRRPOTWURVUNLOQNKTW\]ZJINLPRUOPMPX[[YUVYYXVSLGIUZZYTUNPKHOLNKNJBIV_]TLPWVSSVURMNLNUa`\\WTUQUSKKPMMPKGHEMQUQMFFNY_YORPGGEGMTSPRRWYUUSNQPJKMMQSLQYTUUSUVZXWMRX^\UPKHNSX[STWQNWTNFBJSRHLLS\TGLPQOX\PT[VNC>=HHTNLNDGPXWUX`ZRQRRSTYWQTRKQTQQOONJKTUUPPLNRSUWSRPE=CEKOVRMIMNQTRLOPHD?;?JJMOQPNIEKOOKHEIJEDLMGOVOG;BJLMONKSZXQKEFNRVYUSSTQUSNLLTUWXXZXRKOPHCKQPOSPMHFKLFJLHJOYXNDLLMSWVOI=@DOQNPPJMOVYXSONVXSOUTTPGDNNEJOOOSQORQRUZX[SNOWWNONLOSUTOOVQHOTVVXUSUPQW\\WTRQSPLHCMWWUUTTQXQJW\XNMPSRJKPOOPOTKLOROF@LTNNU\\VJNX\cbYP\ed]^SRD@89DOUK>//wpg`iSNWQQUQPVKVMMVMNQTTXXWYUMPXXY[YZQNYWXXUTSNPX[WXQPRXdjmia[`ba[XURPVWWWUPMLQXUU[ZVRVYUXQMWUSVXYWVUWZUVUXTXUYXYWY[VTOWVTTU[ZY_[Z`[RLNRSUVYUU^cdb`\Z][[UWWWXVTTVWX[XPSUTV^]WUUYWVVV\XTVV\`\YTWUSWYWUYYVXUVOVWWX]^[[UQVYYWWZ^YRRSTX\[UYTXWUVWZTSZLVWUTNWQXUMXZQQUWYTSWWWXQPTRNLYMMQUXWTWUMMWWRSVWTTTTXQTY[ZWWWTUPQV\bhcVMVXSVWUUWTQQWWYVVXVPVVMPRWTQNQTPGNQOSTY^\QPVYYURNJGJDERUURPPQPNLGKRYTMLNTTIEKEILKKHBDCSQRSSKGOTUQOQPPJEDJQOSXY[[YWQMKMNJFFG@HMHDKSTPHIOLLOTQLPPQSWZYWWSMMWZ[_]VY\YOKONPUTV[XYVPJKOQPRTXOHJS[WSKEHQTSRFOQRSRTVXXWZWZYVVY\ZUSNJJNOMIB:EONNJLMPSWUNPVRKIEELRSSQQPOPRPRSTUMOYVLGGFFLRPRYUPPQTYZWTSTSOQQJLQX[]^ZYUQPPNKR\^ZRVWXZ^^YPLMSTW\ZVTNKCCCEKFCDKNFNSURRTSTYWPIGKRY[[WVXOTSNHCR]ZYVWYXUQPNVTRTTNTTTUUV_aa`][XPNHMWYTPVYWUIDGEEQV\XWVXRRMMMOUXYUUVYWUTSNIT[[ZVOKLDNYZVVTRWQVYXUTTZWOLIFINPVXSTWSQTVJFJQMMPQSQEKQYVLSZYVSRRRSUSTTOKSVSKOPNLKJOQLLUUUMKKLQU[YQPPEFLHHKGFLRTRXVQNMRLIHJHIGIPWXRKKMVSPVXYXTNJKJGPTQSVTUVUQREAPNLGSLb_O5FSR?FO^ad]QEBCGLLJHIIOTZWZ\a`SOQRMQRQOSUQONNQTPHFNYVHMQQLLMVXRQSNFFILRPOJHQOILKNPRMMLEAJLMOEJPKCD@EH@CEH@ALQDO[UFFNQSSOFKQUUUQOSUOQPUXYWVMMKIIJKNVUROQQONKIPWXSSUNLLMGEKOKFKPQNHIIIRSPQOC>GOOPQNJNQNGJFKINMHNUTQOIKFEFQVPCHJM[cc^VNKJILSVTOKNNJNOMQRPPLJDCIRQTWYSMLNGCLTUTKJPQIIOSOPPKRXZ[^XLAENJHPTSTSRIHJLRQJMRTPKKCGJQ[XRPQW]_XKJRQMNPVRJDKPTSWZWQJNMQTIGNQKCGOWWMCDJHOUUPMMSTLKKIJNRRQQPHKSTNMVQEKSPNQRVWTPNQJLNNMU_]PMMKOSVPEBMRND#NV_Y^VO\ZchaXSWPISh`dUVMWXWY\ZUTVWTVWXUYWVUWVZVWTTZXUWVTQPOTVUVYege`][__a[XRYXX\^^[XVWUZZXZ\XUYVVTTQTUWVZ[YTRSUWWUYUZ\ZVUUPUWWVXZUYVZ[ZY[VRSWXZWVZZXVVYYYYUYYZ\YTUVOVWWYWMRYVVTPWVVYYVVTQVVUY]\USPSY\[VYZ[]ZSX[]ZYZ\UOSSUVYZSYZ`]Z[\XUOUZ]^[XYYSRSVRUWUUWZUUUWYVU[^^ZYXTZ]VROTWTSRNLPQPZ[WYUZUSVYYZZZVWWSTQRYWUVUVZ_^_\T^hrwueUWXWUXWQRMVTMJNVVITWQRUWVMNSTUTUWVQS[[WPUWVTQMGHKMQTRPHLX^ZSB>9?BFJPPMOKJNPQRSSTXRCAGJNQPOMKGDJEINPRQONLNKNUZZWSLIJGACOOIDMRYZWPEOTRKIFJQQIPSVWRNIJNRVSMV[XHGLQW\YVTSXVNEEFHPSTRSKEOXXWWRHFPXYRHEKKMPSSLJKJOUZUKJLX]]XJCFKPRMKNRQGIV[VLGNPTSRLJPLNQVWPMUWUTOHGILJOPJCOTQEMSVWXVRQSTSONPV]XSXSPSZ\XTOOQRRPOW\YUTV[^bZSNMLMQUPJNTUXRPUTUUPRXVSUV_b_SMKQQMSSQWYPNNNNQRRTTVNHQVXPQTOEIV[SOQWSNKNTSNOVYURSUX[]`cb[WSNNLNRSVZ]_\O@HRUMFU[UTNS]\UPTYYVRTXWPQW\\XVTTUXYXUVSQVWRLNXZWTVUUNMKLMNTRQS[ZYLJMMLMNQTTRIBJYWMGNPQSTTVSIBJGHIMTVSTUZ[QPROOPRZWMLSQKGLSQOORRUPJQQT^aXYSRQTWSHANX^]\aaZSQSPQMH>KZYPJLQVTQNKPUVWQYYT[ZNHUYWRSTSW\YTYGVX[TCFAK@3MQTWUVTY[^XJMIGKMDEJFENRNPRTRSVSNMJP[^UNKAHILE@CGKT[YULIOPNPIGJIJPTTNJRYXUOIKPMKQIDMPTXWUURLHAEOQPORLMRVWSOKLIORVSMOOMTZ\YQPPJJMRTTUOGGBJORTSPNILNKLNT[]XUROOGEKRTVTTNNJIQSXVNNTVRUY[PIIPMRRPKMSUQMNQVVQPPUSRQQPJUZXNKOOTZXLCDNRNOPNIDINSVXYVVXVOOQNOTUWPMQSQIAEJLLVUXSPQVVRLFJNQSTWTOLPOKOUOPRRQONTZTQMLOSSMHDUZRIT]OHQMGIU[P:'ELJILMXXQNSRONTZ\[VSLOPQOQVWIGSUSPUXUSNHMQRZ\WOKMPSTLDITVSOMJQRQW\VUTWYY\]YZWJENXXWKNZ[WQOWXVVYYULNLLQQNMTWWTWX[YTZ[`YMUYPP^_URWTQUWULDEHLOWUUPRTPRNNPRLTZWMNSXXQLKQRSROMQZ]\``XPNNNIHR^`Z]^__XMLPQSWX[^[WMGKU[\WMKMPPNSX[VRQUXWW^_\WSPPMMPKOY\Z[]XQKQUY]\YXYYWVURPPLKKQNEAIMNIFOQOSRLNOJHJMNSQSXYSTKHKSUJHHIDMUURNJKLOKNPSRVZ\ZYZXSTUWQRTMITWQPMIMPUVQNU]^ZUZ^ac_]ZQPTQKKSTPQTKJPYSNPSLMPGRURSSde`P?EQQQ@@OL:DPCFJ@TVTVWY_\PMSQMRXWTXRWVZ\]VJOLXZVWKZbVTZYVUUYYURQUVUX[YWWMU_dii]U]^XXY[\Y[YZXTUYYXPNOWVTTUVXVUVZ]YVYYVVVWYXUYVVYV[YTVXWYVWUYVX\XXZLTNTWYXYVVORUWWYYYVTRVXZVWWVZ\^`\VSSY[[][VWWUYUWWYRUY_XUUVWTQQRSWZXWXWWWTXUVVVY]b`]^\[VWTWWWWYWW\[ZXQQPMPUWUUXQLNUSQZQYPNOTUYTW\ZUWSQUTMWMWWWZYYOPVVV[VTTSMLPSPWXKVLOVWTSUVVQTMOTQMRXVXUVKJMOORUOLOTRXPJRSPJTSMPLLNSVVXQQSNKNUVTSSTXTVUTNPNFGKQSUQSQLRQRZXSTQHBLNNUXQLMPQMOLONJLOROLLGECHOPOQRZ\YQIGICEDCNPKLKCPUQMGFLLSWPGJJHJJHMSVRMQQFR^[][ZXTKOLIKX]WYYRKISVQRRRTSQOUUNOQONHDHIKPRTRNLTXPQWV\\TQVVNOUPILMICDKQWQQRV\\TOPPU[ZZSVZUSSVQKQQK?KQQPLKMOOOOOSY]YPOQUXTLLOUY\\XRJCJWYQSQOPQRTWZ\YTOOSQJKTURPV[YVYY[[NKMOLKKNNSWXWXXZWTWXUJQZVWY\WUROKQVSLPSSRW[ZVOJGHFLKQTRQVSPJIKQVQQNRUVURNSYZTSZZXTVTNNW^XW^_\VI>BLW\UU[\[YRPSOTVSUROJKPSQSJCLOOU\b^TKLKFHTQOTWWWYSPTVVRPPNPUZYVWWPCC?IQSMFKUWSMMNLLQOMOLKLLKOTQYYL>FMTXYSR^]PP[ZTMQQRTTQSY]VNT]][ZWTQQXTVSFMUPGKLHKG>);LVNT\\ZROK75LPOHINHOSJLLOSVSPSSXTQOPLMJJLJ@BMLC@HQXTKDJTYPOKGNROPLOH@EJPSJBFOQOSSSTOKLIDOTSNHKOPPLLPRTWTPIFINM?8LV[TLKGKSWVJHQRIAGOPLEHLJRVRNKMNOONPQWVXYVTRJJKPSQMFKJIGKJIJMRSSUVUVPLSUSUVVTVRKOROJONQTTVTTSNORJEJRQLMSPMPQPOQSOKECGFSZ[VTQPSSMGAPTVWZTVWXMKPLIKJMJJJHBFNOQRTPHEGOQTTNPTSLIRZ]ZSHCGNTY\]^]WILGFV[YSRXNHCI>7@8PF0N;SJNOJ_aZTHQRSXVRQRWKUa`[TTUY\YTO^cTRVWPWNUVTPT_c]\XYVXTQ]jmfYW_[UUXZ\[][[\WUUWYXU\aa\VXXWTSWZ]VXY]VZQWQSSTUTXZ]YUWU[[WVXYWTXXWXUTRPWYXXRPQNWTTQPUWUPOTWVYVVZ\Z_`^XWXYUXXUTSVUY_aZTXUWYVUXOSVXZVXUSUVZXVRRWY^^\\]`]XXYWWVZZYZYYYbb[ZVUWTVXYVWTSVYVQNNTQNMVVUQSUYNYNPTSQUTPWXYTSPRWYYZXTOXOTXXSTONTPKMRVUWVXROUY]XVVXXWUXSOUTVTTNOLSRPQRTOWLRSTUUVXVTMNRVOQQLLSXWVUUOLPWVMMTVVONLQTNHDPOPVZQHKLQVTNOORTRYVQPRRSMKUUSNMLLFFFJJEJSYYUMPTROKHRTMQTMRXYWSKJQUWSNC=>FOLNNNJIHKGQ[^ZYYVSRUVOM[a\YVUTNOSNLOSPPILNIINWWMMLNMOQSSTQLKNPQMW[WKPSKKRTVVQNNKJTUUTUWVYUMKMTTSSPPV[ZXSOD:ELHGNTQPPQPPQRMJS[ZWUYYWPKFFJRWVQJIHMRLLHLQTTTUURMUQNGQWOONTSV\[Xa`_^YQLTTQLQQLPTUTRRQONSVNLSVQJTWWUPFFIEHGPTTQTWSQPRPHJNPQUQPOUQKJHHPWUOPNU[ZZTLJRVU[_\[VODFNXXPRXVOKOIGUVNPU[ZYRD5CRXVTRQCCPRRQPNSVSRTXWPPRONTVQIOURVTOLRYYWQRQJKVTTVTNIMQNJILOTZ^][UQRSVVXUSSSPJPTX[\ZVVVWY^XW[\UITZYWWTORQRLHWTLPWXY\YXTNLSZ[SPTNIT[SPOJGSPMIJQTWVWX\^^\^[[[^^^URQPIUZTSWYTYWSQRVc]LS\ZQWNZXMB.GTOLQROGNK?W_]YXTKKJA85:CBDKGAELJNWXVSTXWVUSPLMFEJIJMJOQKCDGHOPOOOVXUROKOQKEJUWM?GQSNFFFHLMOORSLNHCLPNOKLRRPSVVVUVQIBCGLKECDHFDBEBFPXUOELSMEIKLGJLPOQTSRIJQIKNLMHPZ``^VMMSXWTMJHEJJMPNLMVWQLILRKGKOSVTRPQTUQPJGNRPSPUUSPLNUOMIMQMKMIKRWYXSONIGGHIS\ZTMIHUVTJPZ\UYRLJQRMOTMMMKIJMHKHNUTPQNKKHCIIMSXZ\VKDFNPPOJBKNTX\USZ_XUP7@MRVXW[`XNLQ^dhjLJE:I=TJPYWRW[YSOOY^]X\VWJZ[S[SJMVY^Z[`XZYSUTSUXUXX_`aad]][UNOU]_c`]VUY\VVXX[Z[XNMKXV[XZ[[^a[YRRTUVVKPVWVTUTWVZY[^YXYXUXZYWVYTNSTXXQMUVPQRY]ZVTVZYQQSVUTVWYYYYOYVSQU[ZTRWUUUXUUXTRV]_[USPUUZ^`WPTUUVVQZTYYZYUVYZ^\[XZXYVRZXUSURSTTWZ[]WW[PTVXXac\WYXZUVXWSQPZQTROSWXVQONUTOVPUUZXYWXZVWVVYZZVVUXYYVUROPVKLMNMSTUWSVVYRLYSYXSUSSTUSXSQLLUKMQSUTRUV[]YVWUQLOSPTTSPKLMOOTTLFOTTQQSX\^XSQPPGKJIQRWYSLJQVTNHCKPNQQTVSNSVX]ZUNKMJB7AMTRQV\[[XUUXXULJPIKMOPSTYVRQOZZQLFEC?ALSQPQNNPVYYZWTLKOTXXYVSKDDKNLNNNLPSWQORRQQRRVX\]VWPKKQUTOHHOSLOTZdfdb[KIV\WITVNKMLMPOKOTVXPNSXSHJNPTZWRLGJRQLOPVPNTU\[SNLMURNKKQNEKORQTTPQQRUYVQFBO[^]c`]\UPNPRRVZ^^XOSPFRXVLJT[\VJFLRWTKUSMENQNNQTPKMUTTSSX[UU[XHCOVURNLOUWVPKNRSNQPNPWWQJSX\VUUWYX\[WMNVRVWWV\\YUPQWVV[ZZZYTQRRQSTTSWRQVSXXVVPKJMOVWX\YUUXTPMQZYUVZUX^SIH@IRXOGKRSYUPIMQRY^_[`ae_OGLONSXSY_VWZVTXTZ]`WMRLHSOLXHINUQHGNPMXVRRX_ZWSNGPWSTWPAEJMMLOLIIUZWMPRUMIHIKJHMKJICIPQNMNNGJRWWVSTOKHFKRTQNMNJKKNMONKF@@BHLW[QKKGJKMPRHKMIIRTPNKHKTQPMKKLNQJFKONAGTXUPTUXUTQIDMRROORUQMIF@AHIEEFQZZTTOUXXVPKQROKRRUXVRRWVQIGIIIKMPVVSOQWYVNJMORLJMSXUQJLNPOIAHLKNONMOTPMNQQONLLT[ZPQRMKTRSPUUVVTQLMLHC=FMOQPRUSOJPSPIGJLSPIPQNRX_\VPECENQZVSP\^ZUNLRRIQWVULIIIOXaf`DM\hfleXVKFJNQQUJQTSW[TUOWTWURXSZ^\YWLSZ]b[UY]^XNLMW[WXVWUXY_]WWYTQUY[chd_Z_a^XSTYWWTPKLV]`^\\YXZ[ZWXZVNOSUVVVVZ\XUW\WZ]UPNQVXWTWZXZOPYVZYVVWXNMU[ZUVTWUOQYUXSWYWUWULOUPVUVZYYXYVTWZXWTMLNRXUTWXYW[_VXYVXWVRWPXUSXROZ\YW[ZXWVXRZWVZUNMQYZ]aacb\YUQNW]]YTX[]\\^_YPSUXXXWWMSVUXWPRUQRVUWSMMYZZUURY\[YWTPUWZXYUTTTRTTXSYXYOPRRSRUY^[VVXYYVPLOTURONKUJLNPVVWXSMVUMPU[WRUWTTTOHIPTUTVYSJJLQR[ZSQPIGOQSVY[^VIDPRNHGGEFMOONPHGOSYYTPLCDGB?EP[\[YRPRRUSSY]UMPUOMOYPLRPGLRZ_^WW[UJIUXZRHQTVWVZZRKNOJJJPTKKJDKXYUKHIMPRXVNEKOOOTRKFGNQQOOECDLONOMNQWTYWXQMNZ]_\WNJOKJOQKKMOTSMIKSWQHKIPPRQK>?DNPRPRSSQW]\ZYVOSTNKOTPJPQNKJMONLSVWVRRVWOR[^]RR[c^UNMTWXVLQQXXRNPSTW]\[SUXZWQTWUTYXRQLKPWYYWPTXUKFNQSZ\VQKNTVSWXXQGLWZYSSNLTMEGNLJNUSVSQTXYVPNQNJJYa^]`c^ZVQPLPQS[\[VTQQMQ[\VSZb]VOOPKLIJQULKMQPRW^\VPTWOLPXULIPLIPUWSOLJMRUYUMMTWURSWUWVNEDSWZSVUQPSSQOQRTONJPUZYURNIKKJIMJJKE@CGJNLHEOORWZXUMMKGHRUTPQSSXZWZ[TMLJTXWWYVOQPMRRUUSJHLNEGLFDKSQMP^cb[XXSUROMS]__]OLIDIPRSKB4EUd_U/1ORIIQYMAFUZ^bcZXUG=FV[ce_KCPOOQYXWXZ][TPJXPMMMSNGJIILNNTQMJHMNUYWVQOSSLD:DRYZTPMORONOSVXVLCCJPSZUMPKIGLJOMOSRRWQMJINUTSVOJLSTUQNMSRLIPSVU\`a_\VQMOTSSUZ[VSOJKORTMJLPSOTXZ[YRTUOOQLNRSVWWPNQVQNNQRQQMMV^^SINQKFPTRMMLGMTSKLUQIHFFJTPPOJBBFJJINSTROIJOKILPQRSUURTMRUSSMHICG?LUWVXQUUZXURINPSVWUV[ZWPRNTTTRPNTVSRQT]_ZYTKMOHIVRKMHIQUNX\`[HN6Cedb_HGQQMZUW]ROWUTVW`\UUORX\TXVUSNW\SUVZc`]ZUUUSXWWYSXWVXTWVUXYY[ag_[Z]]WUTVX]b\WTUXWY\^_XYWSOMSWVUUWWVYVWVYXW^ZUZ]XSSZ_^UV]_Z[YSUXYWWUU[VNTYXQWX]YVVUVUYUZXVXYVYXUYUWVVWWYSNWUVWWY[UXWXVVVWXZUPSUSPTRUV]ZWTWYSY\ZXWXUVVVZVUUWTOZSWVXZ\`ec^XQXPWXW[ZUUUX`c]WQSYXWYWUOTXVVVVUQTROSWVZPRSZZUTUVWVNZPVUYYWYVVSTVUXYXNPTYUUYSTX\WUQSVWOJLVXVTOWMTSSSSTTKKQJJPOVQSPQUOOZYRMJPXY[]\TLOKIIKHHKHOPWZ[[ZZXKNXYPHKPNGBGKMMFJPQQTVPOGHORIGKU\eeYPPRSRRZ_[QPRRNOQSSSM=FMRVVWVUVQWVUTQIGLVXTWWTPVPPGGHGFMVUNORNKDAJMRYWOFJMPNNPRXWXVVYTKHQSLEGMPWTMNU\[USWX]TPLLIKFGMRQONRRPLKRPNHNUTTQSJCOUSSOKGHKS]^VW\ZYYXQMMJFRVQKMLJIILTWSJPT[XPOU[ZWOWYWSNKQWXQRPRPPLHMRSSQTV\[^^`VQUTUTVWTTOQXYSPKUWWPLTXQPSRPPQRR\`aXLDR[VQNIGNUXONKGFQ[YTNNLOV\[TNPIHR]c`X[[WSQRPPSLLZZXSNLIHLTYVW[\TJLLLJDBFQUTVWSNKSXTQKRSQNVUSMRSLMSY[XRSVWRQPLKPSURPSVUTQKMPRSSRRSUWXWVRTZ]]ULKNTTTSQPTSNOKLOSPGJOQNHKOX`\WPIIPTSMIOUWTRUVUTTWYXQTSXZVRSSWZZWOOX][YVVUUOCDINQOOTZ_\^`a^YYUST\\[]ZWQL5@JKHEQMQSZO?'@Ub`\Q5:Xad_[TOIGB@PUYRKHLPNLLJNTPKMMQWYSINQRKKKKBJSXSQKGGMRRQPMFAHFDBCBLPTTMLMLJOQPNTSICJNTOFFDGLFJLSQQVVSRRLNLQSQQMOL@FQTVWXXXYURLOSVSQVVYVTTZSQNRVURTVRPRVSMOSQPKPOW]cb^[[XURRT\[\SKHGJSSOLHMRPFP_bYQVSJLQTTPPTTPMPIMUYOIJILNPONBFLFKQMMPOHGIMRNNONTTTKIIJKWWPPPOQOLMMSUWXYVVZXROQVXVUTQQVULJJMPLOUWTOMJSY][SRSUSTUNHGDAOSQQNCKZ_b^UDEYcdd^WU`XPjmkXWV_gnqkaWWSZZTTTVTRXWZTK[[^[[W]YZaXTWUX[Z\[XWQOTSXYXVZX\]VWZ^]Y\_b[VXYTUZ]]ZVWTTLOUUX[UNSWUW[[XYZVUXZZWZbfb[^`\YXUWZYRQQTORRRQXVZZZ\^YZZ][\[]UTTTVTXQV[ZVUZZZQOYYQXXWUWY[WWWUVXYYYLWVXURVZ[\XY^WWZ`aWUQQVUSRLRUVTRUY[VYTSZad]XOOSPONUTYVTVXZYURLYWSZVTWWXSRQOOPUTQV\WNTUXZUNTVUVUXQUTRQWWYWSMJRRNOUYVUWYVVUUX\ZTRXXUVVSRWX^]RPUXXROQLUNQPTWVURQORWRFU[WRNJRX[W\]YTWWTQPRTWXVOTTXUSF@FVYVPQRVQJOPMKLNQNJKQRRPLUXVOOP[kocSIKNPQRTQGGMSSRTVRQNPPNQQRLEHNSQTTRIFIKQNKMRORSYXVNMLJP\]RJJJQXYNGLRVSNIOVVPJSXZZ\\]UKLRVRIQQTTVSSYXXTTMPRRRQNIBCMMHLOSTULMKMQRVYXWWRFGPRRIKHE@IR]_YYXYTXSQQUUTXZWJMNJKNOSTPIOWYYSXYRMGLRPIHRSUTSQSWVPSKEHMSUOHOPTWadbYUSPQSX[TSSRSRORVYPGELPMOVTQTWQNW\YXVT_b^QJIPRUVTXVJHLWWVVPNPPU]YSRQQSZ][VRPPNKJKOQNU^b_XPIGLOQSPINPKOQUWRLGJTZ\[USMMPMKHKTVUUUQHGPTRMPXZVPUTSOMHCOSUOQPPNJQXWUMJMQQKHMOROJKU\\XROMNPVRIGQTOPPPLOTSOTWVMMLGJRSQSTUWRMKKJPWXXZZXQQUTONMQUROFLOVVVSPKJPU[[XUYPLHLRPJKY\VQONSOSQRNRUTWMQSRTOLPP@KW_YOLHINIALQU_`_U?#FSSSTKNJLMVYODBKQOLQUPKMNJLJJPUVWTOKHNSNGIUURRRKISZYYXWVRLGIOTSMIHRTLIFHNSJJTXQJDKOKJMLMPTNJPTWSLBJFFLNPVXVSTOLHMVWWWXZXUSOKPOJIOXXVSWXRILJKKDLPKOXZQILRTJDJMRZ^cgedaXPQSU\WRNMRVVWPGCHNSPS^[LIUTPLMPQH@JRNJILIS[WSQTLNOSNNXSLIJGRQKFIOSPOKNSSSNMRONRRMFLSUTQMJGJJJNSUSMPKGOYSOMOOQSPIEGOTRTXYTPLLW[XYWSQOQTWUTPGKX]^XNEMPUXXWNMS^hebbmnohcwscNX_mllaTVPUT[^eh\Taae`YP]`WWUWU^^aVKNZZZX]`^[XSVNLRRXY]\YTSWZab\^WRXXXYXY`_]YYVOMSUUWXYPQSUZ_`][XTUYYYY\b_\VY\YXYUWXWVTMOONSTRSYVZ\\][UZ[\]\YVUUYPLKNWVU[XYY`c]\UOUWTRWUXQYKRVUXWUYYZ]VZPYXRNTXYW\`]YRNUWXXVVNSXUX[[][XWYX_aZWOXVVXWVVYVXTYWWURPPNVMSYZ]UVXYPYOVTPYVSSUXZZSWVYXVWXUQTTWWZSKLKMJPVURRMMSXXWRUXWWVUWVPSXTRKOY]\WZZURPTVSOPRSWYSSVQJILSPKMPTSQNLGSXZTQOOTXV[\^\SJISUMJDHY][WTSQNGPPOKMKGFEFKKQPHLOPTTSYdkf[KEFQOOJHDHOUWSUWXUXVSNMKRV[WTMQTXYSIJJNSSMMQPQRSVTONPQTVMGNMT_`UKNSTWQGMUTONUXRTSVYTOHJPPQNIJQTVRXXXTRRUQNMPQSOHDFC;DFGTROQSQQTUVVVRPSRNMMTTUPNSVZ\VOSSQORNNPUTVXYWOOH=IMNRPQRRYZXURKAKUWYVQSSWWUNPZXTVWUTRQRROMMFHS__aa]TPVYYVPMJOUQOVXTTOKLMQUXXVTMT[[XXWXZ\WUTOOSTQQONE@FQU]WNPTVWUVXMNW\WOIDISQKKMNOOU^]TS[YYWYXSPLNTWURRY[SOKPVWZWRQSTTSPMRX[WQMLOPSSSVZYWRRSLEIHLMQOTPOVUPQVPJJIOQJLMLQSLGKOPNPTROMQUQNJNRQPMOTTPRNRUTXZXKHHGGQYXSRRSPNLOQNPTRUQTRPOPSTQKILNLWWQPKHHMQSLIKOMI@HQKJSZVMKJQUSLHHOORUUPSORSN\_P5KUUQMPQPRNSXXUP[`ZNNG?A?<;FWZVPLAELUWRYZ\WOPRJDCDOY_^RNRVREHQVVQRLJPRTWUX\^ZTOMMILNMLQXUQONLJKHQUUOD=EGNPNLNQSONTSQIFF=>MNNQW[XYZZSVRQNRQQTQNNQSRSKKQV[[YXSPQUPOQQQKPZ\TFDJLKOSSUVPP[]\]YSMCNRNFHSUYZXUOLOSPVX[VNFNSKCKOPKA?BECFIIOWSPPQRTUXUURTQOKMUTOMNPTVMMMJNRPTTMJKLICFLRSSRPHLHEFHMNUTRPSVVJGJUVRLFDGORRTUOLSOTSSOORMNQQSQSXYNAMX]XHCKXVKHIEBCQ^bbhffhlibqd\^a\[URTWTKJTYY[VW_b^^WRSXZ]WNYXXWUMRTb_ZTX]ccWTNYXLUTXWXWTPW\^_]UU[ZTQY[`^aff]TUWYUXWPUUVW[\`a`\TWYXX^c^XT[^ZYUVYYXXVZVUQPPVYVYYUWW[]`\WW]ZXUXYTQMRUUQSUWST_dd[YWTTYUXW[XQMORUVVWYWV]\ZVOSZWVUYZVWZW^`XYXYXZOMXYYW[\[XZYXYY[VYTUOVVRQUZ\ZYYXUQQXY[ZSRXTVSRQOMONZSZ_YWVYWXXYWZXVYVVVVVXWUMQWYTUXTWNNOTXXTYWZ[ZUYUUXUTXUWWMRTTTTWZXVUUURNLMWSPPTURRNLKNOLPVVUURTMONIMMQQVZZYXTLJQTPIHKQ[TT]]\TMNJIORRLNPOMH@@@IIMPUQNSblj^NILNMRQKJPTTOMRLKTUPLNLKU\ZPNWWTVTNKIIQTRQRVPGIQUWTSMLMIQUVTUXTUXWOOPPPMOQQX[XSQRSWQIKTTMQSVVXWVXWNJMOOJLRRTVUJKPNHLKIMSOQURVOSSTSJJVZMEKOWVRIJLPQOLRPJTVZTVTPNOWXVSOGELMOONLNOYWRKHMRTTXZVMOUWYWSTRLLTXXRLHIXYUQNTWWYa\UVUY]YQJIJTXWPV[^\VTPKKOTVSSW\[XUSONHHNURPPOPSUPMIOTUVSSTVXVUYUQQ\b]QJIQVVRJKPXVT]`ZU[\]_a]YROKSZZVLRWTMHLORWUOLTZTTVURSSWSQXXUQSWX[[WRSQIMPRQTMPXVOMPORRRQPLJNGGRRTYYQRPLKRTQJJLNQVTOQPSTW]_\X\ZTINOMFJLLGOMCFSUUUNJGPSRRSRLNMTTPPTPGHLLMYYUQRTPSTTSPQVXVRN[]OHKJKQJRXUJCCNUZ[\`_ZTYY\c[@8JNILJIMMWY[WXIO]XIMTSUJ?BGOYRG;FILPWZ\YZ[YWPFBHKLPXWYPPWXUPPSWYRKFFAAQVWY[YRMHEAOJG[_\LBM\bR8NZ_gTOgk\Uafb^XWTOTWULVJTMKXNSQXQVUSUXUUWYWUVUYWOMOMKMUNSSYKTYUROX]`]YVUVUXRPY^`a_XUTVXUW[UPUVXW^]\YSYZYYU\^ZZWUSVVTSOSRYXYWYXUXWPTXWVY[\YOMWXY_b^XVWWUVW[`ZVTWUWVVU]ZUPNXZXVUYXUWYVPSX_`\WNTWWUYZYVWUTWUXRRWU\YXVVUXUYZYYVU]YVX\XUV\VSZXWSRXVVXTXVRPQPPV^\YQTYYYTUVTUYVZWVYSMLXMSVVRPWWWRZSVSXWXUUWWQJJOSWTTTQKTXYKOSWSWXQNMPW[^XVUZ`_URSTTPUUTTSPPOLSUVUVSZ[XTTURSUQNRQSNIBNRMGDDBJRWYYUPQQQQ[RJHPSRPUSNMQRPMNNNPNJKRSUY[WQJ@GORTRRQNLJIDGU[WMOY]UKKMHAQWXQHDHLNNTWTJJSRSW[[YXTPRRKJA>CDFIRVXTQTPJMSURRSVRMWZUMLPTWZWRNJPGGQXZPMTMGOOORJFIKLOTXVQIQY\VGIPTSSUSKOQRVVTYXVUPUVSQTWVXXTUSSUWSRRROMPGFOSX[XTSW[a]SLNMSV\[WVWSXXWOEKOQUUTIFQYVKMPNTZSMPQPYVSONFLQOJMRQVUTURLQYYYWNKQKLOOOOHITZ[WWWUUXPJJJRRXYRVYRGJNPNOPOIOTaa\VSNRYWVWSQ\^^\YQSXUPLQYZWMPZY[XPKHOUNIPXZ\]ZVXQLPSSSOIOL@@LOMVQRURNLPNLJFGMPKIKNQSRPEGJHGELIIMMRSUPJJPQQWYSQRPIGHLMVXRPTOKLSTRRYUOSYYQWWVMFPXRRTSOISYXQOQVRNTTLHKLUX\ZTPORRWRRQPNW[[\ZXSOQRSTXVTUPW^VRQU\eeVHQMV_`aTLQY\[_ZWWE?AbVWB4?:6BRXL+A[VGCFE<;EOHGTRUVSKHJMRXZXUMISPONMRXOIHILQMKFHJHCANUTFBGMSMFFFLMMLLORUOGDFJLNPTRJKKFBKOPLDKOTUQIOVXQJMQRPPMHADBAEORPPMKRSRJHOSPQNOKGKFJJNRSNOQTVRKHKKHGJJLPOOTLFJSX[[XSPPLFKRTYXTPXX[\^\WSRQRUTPPRPQLFFMMOQTPRSRRSOLMSSLGGHMLEA@@FKTV\VSWYQWY\YRKIOKJNVTPNQPNRPQUSPKMIJROLMMKHDHNQPOTPQRQLPKDA@JLGDHNPRQW]`]ZPRX[U\]PLUWRUVMAOWUKAIOFGINQ[]PTTWXUb^WXTUVOXXWZUTSTWWWVQXUVRV[a\UQNQKSUXYMWUWZ[WSWd^TLVVWXOUYYXWLYVZ```XPKSVYXUWWRTNWYcfaXWYXYUWXYVUUYY``UPOTU\[XWVVRTQSQSVY\^WUWV^]\\ZVYYTUWUXVWKXUYVUPVVWWVY[]\VXYYTXVUTWXXXXWOTZXXYWUTUYVVXTUSX[\ZVYWTTRV\YYY_\YX\`[XY^^ZXYUNNYYVSOVXPZSVTSYYVXWWXXXRRUTUUTXXYUUURSWUROWLVVUVWUSTYVWUTUNJMLTVUOPSWSPQXYWUWUJVOPXOVWVWTW[WVQPONQPRSVUTNVNPQLLQQX`[VOKPTOSTRSVXSONTQORLFKMQUXZ]XTLPRRIJQKJYZXQOSUTNIEBGNMLUSPJHFLPMNQNHMPLDBHJEGRZXOHMNLNQLGAKXXSQUWTSW\]WQQOJOX]\VOKGDIHGDDIGDFJPMB?HLKVWSNUTQMIOTROONPVVRNHMOPLNIKOOMTSX]\WSVWRKJIX[NMQVVROQYZYTRTWULHOVUSSQPQIRTSQQOVYYVSSVVQNOWTOJCBNJNSRSUPV^YRSRNLPUTVZXRIJONQQRPQUVRNMQQONMFQXQGQTVRNHFPV\YNHQTUTRSXXRJRTROFMRJAJRUVUQTWWQRSSLNLLJQLU^SWUPPNJPUTRTRJKLKTYWXTQSW[VZWQU]`aWNLRPQRLOWXSILX``SAGQWUVWSU\_VSYZTOOQNHEMMKPTRMNSUXWPQSNECBHNMONJKPVYWLA=;FLPOOPOKMMORQKLNOQNHHNSPTPHILLOPTZUQQPMRUXVUPOPQONPSSPMOSRVXZMEJSVOHPPMPNKGMSXRNNQQRTSSPNQVZ\YYWYTPPMUZ]VNOLANTSX^[PV\\YUNSWRYWWZZP-2D@CPKB=4JKOY[PAHOQDJB@?B=GQSURXWMDFNOPL>?GMOPMOOMKOQRVSMIKGHFEFKKFQLCHQRROPONSYZZSTQNPIKVTMNRUSRROIJOTUVPNORVQOQVQLIIMPNROOPQMLOTSJOOMMRVXSJLPRPOQPMQOHLRPOQOPPNDJSSPNOKJLORSOFKS[^_``YWNMMQOY_^\ZRRRWWRMPLEOVXSMKLQQTUQJLORPMNRQOKLNNJHKHKLHKONHHNTZZUORUOORQROINNLLQQIJTTNPRSVRNJEFDEJIEHRRLJRQNNOOQSNPSZROKIFMOSOKG@PW]\XHCQRQUWWYUVSY][TSUMHRSH46>@CbWJOSTQJW\_bZV[_\WROSRTUTVUWVXMLXYabZUTWXYQLTSSVTRVXXWV`\UTXYUNPRVWVXXXYVU\_VUVW\^c^UUTSTTVV[`]ZZ^YYXVVWWXYX]^XRRYZZVRSWUTVXUXWWVVWVWRV\]YUYWY[YXUTWVVWPLOLOSVUVYXXZ]][WXXWV[[XXXTTORWYWYWZ^`VWXYZZRQZXZVUX]]XRSVYZY\_ZTZ\][X]][VVWRUUSUVXSRWWROPVZVNMSVVTORTRRSYYVXYVWXWVUUZVULMSRRQYYWSYYXVPOSXSXVUTPTQNQRNMSUXTVWXLQRNSTTWVUVSSSVVQIVRSWWSJOVSXUOVTWWP[ZYYXTQSXQIJPUXWUVVVSLNOKJOVX[UQFHOVRSEALVTMONVUTWVINUSNKGGD@DNQMKGFEJKGDORNFIRTNPSKCFNSSLDMW[WSYVRNSW]XVQJGLQOROQQHEHJGFKPLKMS[ZHCIHFMLEHPTMRLHGHQRMORUVRKOQNRUQKLOHG]]^[ZX][PFIWZSRVXVOQUZWUTPQVUPGGNQPQPKJKFKJJORSUXUQVZWJBIPVRNFJPIFNLRTPSXWPRQJFGNPWXVSUPUVTW]\\WUWVOLU[ZSRUSPKNVZQJGKRZ`]USQPQPMLRPJLPRPPOPRFCHHPUYa^^WQPVVUPWOHCHMWQRTQKKJNQRSXUOHEJOTXWTVTRRRTQLMOVUVSRSQSRMCOTRFHWbb]QNVXSUUONWXTTYXULS[ZTOICIPUSRRNQSUTPQNLWWVUNRPNJLMVYZUMHKOTPKHJNMLPPQQQMJPQFFPOTVPJALOPNLWXXTJJJMTYQKOPTVPOJFLRSVXZ[YLGNSRNJFDBGJKGCFKPQJQNIQTPJF?AQWXTNKOSPFGWYVSQJ6@GHLLHLPRNOKHJMR]YPSVWHN]UMGCG^_QGPNVXL?KH@ITMITTIMVQJHPTRKOXVVPFDMXXROU[\USW^_\Z[WWYVPLIG>HFEQUXYNPQNLVWX[_ZSXXZ`]TVXRISURLJOSTSSRRRUPRXYTNJFGFIPMHUULDNSNPYZYTRQQNGJNSRSSMQUTIMOJNORJQRLOSTPLLOMMQURJJOQOIOU[ad[TXUPNOPUWZZXXVQQONNNTTUKINSPOVUVTPTOMMONNSVWRLGPRT]\ZURIOTTSWSMNROJQSTSNRONQSUKFSWNJJNOOLMPSOOGFMOROEPVXWWWPPILR[[YSOLGFRSSUQOQWWQLJCCMX]UOPRROR[USQG>IN@8.4.>OZMFIHFORNCMOFFTYOMSSSPTVTRVSMMUVNHOVYURXXXWWXVUUURLHDHMHAAFQVVXUIEHONWUROSUWWSQXZTLIEHOTWYVRPGINKIIRVUUPKKILRQOPTOMKOQPQWXSKJHGCFIMPUQIMNKMQSQJLKPTUX\^YTIGQOJOYVIGOQNLOX`kojb`[TMIMPXZ^\^YSOJHOWTSNKOSSRNX``YRORNJIMOPNKSWUPRVY\XOOMKMONSSQOQOMPTONOMPPSY[QFJMPLLLRRSKGKMTRTWTRTKFGJPWUSKJOVTSTQLNPQPORZ[VWTOMKNJII^caXJRTVWYPIJB8>QTIJ@LL:?YMVYOZipjUOW]TOUPUX]XWRWXZ\YROM[c`YRWYPLRUYTRQQYWVWWTVXWNMXWVWWTRUXYUVVU\[ZWXYVWZaaWXPMPTTNWZZ\\ULQVXY]^[WWTV]\UV[`\UWUQOXWVSUXV\\ZWY\\[VSMQWWWWV\a__WTOY]VOUUQURWWV^dbUWYSVXTXVUY[]_]TQUWZWXUX]ZZSVXYZZRRWZVRVVVZWUVRQY_aYLQW[`[XXYVQPWVUYXYWQMRWXVWXXUOOSWRUZ^\WWXWWUVOZ\[\[VVVZY[ZUW]`YTZb`]ZYRJNSUUUUWRMPQOTWUTYXVQOQKMPVVROLOQTTTRSVSQORMKRURRTPRUY[ZWY\ZWWSQSTRSZYSNTWVZ[RLHGIRVYSPLOTTTSPNQSVYXSKLRTNILKLPRFFJNOIABLQNIHGORPONSRPKMKIKVYVYVNORX__YLRVSPJBKQQTUTUSOIGHHRROMEBKJKPSSTT[]ZUMNRWZULUXODLUWUTQONRWYYVQHMQJHJRJJILIJPSWWQMFGNMKGIOXTQLEJSUX[WTSTUVQOQTTVQJMNOLIPTQKIOMPZ\TNPQONNUWZZXX]ZRQILPG@BFIMQVSVVSQSQNOMLMPTTQJLKNNPVXXVRQQMIONKKRRUSSQMJMWXZ[WQUXRLJLLOUWVNJKPRQU]^cg`TNMMMPWYUOQXYTPQPSVSOV][OJR\^UEQURPTQFDPX^^YZ\]\\XUWQPT]``]VRQSTLIIPRPMVXYXQLMLKKHKORVVZZYRKJMRUTPKGCKPKPPQVYSLLMQNJJRUW[WRQTOKSYXMB?JNNCGVWQOSQQTX[b]SUYSJJJNKKKGIMY[VRQUSPPUVW[XSRSWVUOOQWYVSWVVUONSYUSUQNQVTNIGQWVZYUV[ZRMNV[`ZRNLQUVWPLTTZVNQWfke\N0EZWOKLQNSVLJPS\ZSKLSSMHPTUQDHOTUQNPRPLSVPOPQMACMONLJRSRWXWRKFNPMGIIFMUVRKFGOPPLHKOLOMKOYXKNJGIIILNOMHCKNLOSLGEMKDGJAHPQPMMPPKMLNTXTGDDIINPOPNKFGKNMQWTIDGHS[\_`\YRHGJB?NW\XWTNJIP\dedc`^[WTVUUWWV^dfb]NNTVUOOXYWPORZ]VPJPSONOIJNLHWZVQTPSQJLQQMHHLRRRQNKRXRNRUVYUVSMMLLQTUVWWOLJOJKRTTSXYTIH@JUTGBNXYQLTTOQWWRSYXWQNRSOSRKVYWa]WLOTRYULJMNSLOUXQGIQP(DIeUS]c^YVSSWNV]fdecYTUYYWRSTLU\VXSNVTWVTWVXUUUYVUUQVXYXUWTUXZ]VTY^ZWWYZ``[\[YVVbe_USLLRRVRXZUTVMYORUYZWVXXUWXVNLSWSVZVMRXTOYXYUVWUY]\ZZWOMMOONTTXV]^VWXYVOXYTPTWXY\__XUWYWWVVYSUUW\ZWMQUWWWXWac^TXTYYVYTX\WROTXYVYZWXV]a^XUWZ\`YWYZVUTRXVUTQXTYNVYUVXYXWYZWV]``XVWWW\ZVWWUUXWYPTXVWRVWZXTRXXXWUWTXY]]WWXWX\VTVVVUU[ZUUNONTWXWUUTXVXUSPXMRTSRTSSQNPJTMSTURJHJLPPHMSWYVRTVZZW]caWLPMKSWTXXVZYRQQONTZZ][XTNMJKPQTSPNNLKQRHENSTQQGGMVUWWVVTOSSSKJKNJDEFT[]WRTWTOJLTZYRQRPOMFIJLSWW[SCBDGMOPSQSTPK@FVZYNJLKJGLPQXTOIKIJPSSLLPPFACHKOGMMLMKLHGLIHPOQRQRVUKJJHOX[^WTVQSXWZYOR]ZUQQRTTRNLLMURMRUYWSWTPPQTZ^YNRQPONMMNPPUOFEFGMUTQUQNJMMQQRPQRJFPWUW[ULIMNMPPOJHNPPTSVVXUQOV\]UONIEGJGKRXVTPNQVVWYV]b[UTRNOSU\`_[XZZSPSUY^ZRY_^UQUZ]VRVWQNW[WVY\]ba___^\XVRH@IZ__YPNKMONMJMQIFHKORMGLRQIDABHKQY\ZVQOSWTTVMLOOQVSQQWYVMDDHKRWXWXWTRRLNQOTONHGPRQMNVYSROICMW^\VQZ\XRMPQPPPMRZ_ZVQKLRWYURLLYTQNNOSTMPXYNGWZYWYWMJOT[XSVNHIORLNUXVQY[UQPSS^_[SPSPMGJONQZ[YKDIU[WXXTOQUE]ZTW[YNHRVTJLOT\`]UWUP;;RRPPPSQRMIEDHJNLKRUURJJUXTSXSVQCBKKDKKJNXVOHHILQOMFLNNKNHHSQKDHDMKKJMPRVTSNKIMF@GMMRZ[TLQQPOHNTROOKMKLFKQPPNPWWWQKLRQOPTPGFFIMQRTZXRLFHJLLMPUWSKLNKJMTUSTV^`^`^VTXURUahifaUQPOJOUQUPIFIRYSOROKOPPINNJQWTPRRRQNRUTRRRSKMNMPQTWSPROPRMNNIQQQRNQSQMNMMJLMUVQQUWVTOLJW_\WVTVRRQRPRUSRTZQFIU]UDDLMXXSYXNHHGURRPY\RLMKNUVPS\WIRJN^RJW`YMUTS]aU_eihb[\UTU\XTTXSWSZUZYXWZ[VXXVZXYYXPSXZUVYURSY\XQVTUQQX_efd]ZVVZ^cb^YVVVYUXX\XRSYVYTX[WVWWWULKNVVTTOSYUSOPPUWXYQSVVY__\]VVYSTVQNKWSQWYVWYWTUYYUXUUWYVZUWYagcWUUWXWY]_[ZXVKXSVZ\\[XX]^XYZWQYWOVZ^ZXY[][WW[\[VUVZ_]YTZ[ZWYOVUYUSRRWVQTWVYZUVXZZYXZWZUXTW[c``[XQSYYVUWWVRTTW[WSTQMLPVUV[\\[[\Y^ca`\WTUXWXUTPYYYYYQRWVTUXWVSMVLNRNSSPOSUTUSPLMMSMJJNOJ@FQUVUYVXWTU[`\TQJGIIRXZTXYUPNOMPOMLPVWQOOKOPSPMOPMJNPTSTU[^[RDMQTVTSVWSPXYUGIOPNNIORRNMKGKOSTUXQJCADKLPKKMOQPRQJFJNQSTQNHKRUMEKUWRQN@GSPJIFIJNNLFHJLBAIJCHIHIJRPKMYYQRUPOQVWZONHFHHJKPW^]WQWZWVU\ZONYZWY\WXZ\ZUNUZZVSP_]ZUPLMMX]aXHHKKNURKQZ^`ZSTRMPPPSZYRJGQUUSQRUNNTWZ[ZSKMUZ\WOKMHHNMPQRZa`UNLWYYXRFEOOJJLKMPQPMOTUPQU\\[ZUNQPJXYVTQPQORY\]\^RJVUSOOOPNRXSMPUWUPNGM]cda\ZTRMKIEJQRNDEIHBKX\VQRNABHJJKNQSOPNONLKQUZXVMKTTPMOOQWPRWUWYYVUOFHHNTXXUQSZVTPONMPWTQMQRHEOZ[XPLB@JWWRMJQTRTOPRQRSPLUVVSRNQZ^`]VRU[b\UMLU\UKGNKNVVNLSVQG:JX\ZVNKQX\XOQQSUUOMPKBAGSRSRRTSQNPNIPSNIGEEEN_YYWROES`bUJRJSRLTPV`]XW_dcUIEJGELPTSSVPMIJMMTPNTYWSROOV][UPTYVGAPSLEILRRLKKKMLOUYUSSMMLLHOSOIDKOSSOPLMTWTOGJKKRUSU[][WSRQPPKHLSTQGKKLQQMLLMSTTPIHRTQPV[ZSLEGOQNMSVSHKPSUXRLLOLIQWVSQNONIN[_dhaVQRVWRNW^acc^[ZUUQHGKJLJQSRTUTQORPOUUPRTOGOPNKLLPMEGWXWSQLTSQMIOSKLNSROCFJMMMOVQKADHKLUZXROUYXRORJP\YY[XQXXXTY[SPOTWTLKRUUKOOVYXUZ_YPFMPE:J[dbWTHNVZXMQTTjeVE[KWeeYNPPYXVZa``SWVUPX]ZYb[XTUT_a\TX`fZLTQWZ\\WYSUXUX[YSXXXYTVXVWWUW^gd]XYXWWU[ZZWSTXUXWZVRX[YXWYWXPSYYYXUWYXVVUU^[WMWNQTVVXUVUWXXUVWYZWVYRZSUUWYZ\YZXZUUSYUWVUY[]ZZ\bkgZXUUY]Y\`XUYXNVOWZVOUY\_[\][ZRPSQV[^ZZVZUXWXXY\^[XYXRYXVY[YTXXXWRPPQOQPPTQSVZUXVXYQVZW[UUV^geec_XXYWSUQONPQMS]^XXSONUXWWSV[[`_ZUWY[XQUWUXYVVWWUWXUUVXUWTTSRLUSXOTSOLWJQSRQWQMKML[WMJOMKLPNW\ZRPWUQNRWRKMRNPQRTOMQPOJHLMJGJLJEEJKOOQQPNKNOMMOW[TQPUVQMPRSKKRYUQOUYTRQUWWVVSSRTTPJNVYUROSWROOSSOMIKNPJIKIFGOUXVQMNS^ZRLKPQMOTOMVWUUUOIFDADENQLEDJPOR[YRHVOGCLNNTXTPPUZ^ZXWPMMJMROMPSQFDTSNMQPLJWYZWRLPMHOOKBKRWVRWYZWTSJ@MUUVSSVOLWXPHEDEDFLSNFN[ZSQQUXUMMRRPLMQPTVWVQLQVUPLKDHOPTVQHAHLMMKLMMPOSWTMIMLMRTPNIHBKTWRMFGSSTNKOQTPSUZZSLJGNSQCO]a^][UQKPXXQQWSNPSUSTYVVPRS[ZY\]VJPROKONKPJGGOUTUTQMNQVYXSQPMSXVQPXYYZVKMQPTZ[[ZVNT`]OL]^ZYT[VNMScojc]]R:ERF9F>HQRRO@>SOKRWTSKIGEDPWTQSXVKHU]_PFKLPUSX[VRQJGGHJCKPJHHJLMPNQOJLLIILPQRQQQSU\ZRIJPTNKKJLQQQWTLGPRMKMNGIVXSE>DILNDJSVOVOHEKPKHKPPV[RJPQQSPMPPK@ELQPQSQMNJJPKHOUTNHJKDINPNV\TMNPNJGNSNMWbkf`\VRUUNRTTNRMLNLIMIQWZSVXSQTNJLRRPOKQQNJKHKHIJPVUNLNMRMQONOPR^a\WMIJNNKKPORTSV\\TOHIJMMPZ``]\URQUUPIQSPQSWUONOFQSKNQNJMONOOX_e`UTKSU=3GWZ]^bJ>RTTWOX\`TIVXTZX]V`cWWZ_UNVZ^WVQUXVWWYQP\^^VVPRPNXQXZUPVWNRV[YUXXWWVZ^cb`WTQWYWVX\YXXVVVUTYYTVXVTVXXUXX\a\YXYXWWWZ]XUV[`^ZYVKMXXYTWRVWVWWZYOVQVYYUVWMUWTQOXWYUTYYWWTWWW\_`[TVVRVWXWXVWTWVVXSRYVTXZ[[YY^YSPXYYXXXUWXUZX\XWYeg`UXXTWV\]VPRRKYPRYWYSTWYWRRVUVZQTYXWLXXad_VRVZZZYXZSMQRXY[[\WVXVPYXQWZ[ZWWWYUXYWWSPORWZVVTUUTRWVZ[YUWVVSVWZTVUXUWNLOSSTORRRT`ZQOLJFLOQQTNUXXUSYZZUQNQSRWWUQSQUSNGIRVRDLSSJBMLPSTQQTOWaaXTQSTTOKPUUSNLNQTPUWTPMKPVXTK=AGOTQMIKOLLPKGUVQNRURLIJTTPRKGKPMBAQVX[YTPW\]YYSUSQPRRRSMGLOMJGMNNRUSSXZVQTURJF?=@EIJLQPMGKMPQVWQV^][^[SLLMLKEJQUYWOEHGQRVZZWUY^]XTUYUPLIJV[TBLOMNHIQWXWRKIJFEPSKKWYXUTPRQPQT_`XKINU[[YYZYTQPWZWVTSOOPONMRXSSONXVZWFO[]=+;FRUQH9HPEEUUNMKEFOHIUNGHKKHHNSSOMRNMNPSPRPQLHHOQQMQLPSOMNRSUSLPQNMLHILRSSSSUULEKRQKMQLJRTQWZRHGNNNNKHFEIIINQLHHMPXZTUSKFIOQPONLPZSEINSXXONQRLKKFHKPRLEAAPMIIOLIIHJIMWSQUYYXY[ZVNHPQHL[cifa[TSPNOYQJOQNRSNHRYZUPKNNPPOKJPPLNMLSTRNPJJMMLQTOKJMRTPQPMOQS\[OCGKORQQLLMNLHLSVWSRRTTOPUYWZZYXVVMENNMVY[^^XJGLQKELHHJHIOOGT\\XWSQULIHTXRBVaaPSRacYOOTSSSWXPTT]fh[^eg_XRU_eUPWWV_`[WKPYUVTVVVQTTXVSOLNLMUUTUVTWWVY]^YYXVXTXWW[[YWVVSTXWXYXZ^[UWXYUVVXXVUSSWVXVXWYXZZZVYYXSOUXVQKXRYVVZYZXYZYTPV]UUUUVVTV^ZRRUWXUZ\[XWY[]^]XORWVUXUVSYUVNXXVXSWVVZZX[ZZRYXXUZWZ\YYQY^`ZU\d_XWZUTRWY[\UVRQOOQUUYRQPWSMQV]]VXWQPOYbe_ZWSUWXWUYZWRMPRQTYZ^\URVWYWSWVYWUWUUVZ\[VXSRXUVVQUWTUVTWUXWUONUXWVWTVWVSSVUUSVUSUOJWJNPOJDMU\VMNSTRSQQWTLGIOQOMUTMKJNTWWVUSA6?NNG@AIHJFHNPOT_]SIPXYWTPU\ZURPKORQMNKLKPSSPOICLNSVSPJFGMPRMJV[RPOWVNJIGHIHKUUONLLQRMLOONPWUSVVTRSVUQPUWQQTXVSTUURSPUZ]VVVONDROKIIMJEKKNMMVVOOUOIQPSUMKOOJFEFFLQWZWSMPUPOUXUSWUW[SURSVYXSU[ZSNSY]ZUUZVPLKIKCCECDGMSURJGHMKHISYLBEIU^`]UXPSWRNROPYVNRUWYRMLRSQNRVWWPIRYQJNQOLRYYY[^[YRRSYWPMUY[ZVSWLKPWVPMLMOPTZ^^[UWURZ[YVSURPYYUQMJRUU\YVQQRRVQOOOVTUPONMU]]YVYRMGJSW[VNFJPOVSQOUQPQMOVROOPPLEJQRROKPJJOUTW[WRIHTVURSPPRQSRPIOQTYUJLQLNVXOJMRURMNRRRQROHJNNLQW\ZOGOSTVYVTQTUWQOMMNTUUVYXWZSPOMJQUUUZZ__]\ac_\[SOVVXSEHQVWPENVYZUPQUWSMRS^`]NQ\\QVYVNLOQAFDBNCE\c\KCDAIHGJORK?BA6CFMW[UMVXTPJIJILSUSQKIJJQSRPNIGKKLQNNMKPSQPSQKLMHMTROSPOMJJFNPOOKKLOKBGOJHNMHLOLFJTVTPLNSQHFIUUMINUVWWTRPF;:AIQPOJLNKHINNTTSUWXRHKMJMMPLMNJOPKNQKMONIMSTTRYWXXYXVQGAJMIKMTWaa[WNRS[^ZPNOOMSLEKROLIGMQOTOQSVPKHIJIJMMMMMVWMHKTWY]^WTXTQQSQTWTQJJMRSROHIMNG:CSXWPOTXRHIMOPUUSTTTWK?KXTTTXXYYXVKAJMJJLMNPNOSWYRQIOG;5;DJQ_edXL]a[JIOOTRRVWSKSY]aa`hdX^ZXYfeTSW`\[UUVVRVPSXXVXWZXTUUNNMYLONSVVTYSU^]^Z][UQTWUWTRVYYWRTUUVZ^]YXUYWXVVUUYXWRYWXTYVW\\WUXVXYTYZ]WWZUWUSPUXUXZ[YWUUWYXYWZ\WV`\XRTZUUWZYRZRXZ\\XOMXXQOVYVXYQQVVURPXWPWXWSVYY^b[TSPWX]^[YUYXWYY[YZXVWYTYY_`^WTMRTYVWNOXZXUTV]][[XVUNWdhbZTSRQSXXYYVQZSTNLZSZVWRXXYUWXUWSUWXUWVWUPRNPTTWWTRWXVSUUXXTXWTVTWURURPJJMMQPPNT\]VMIIRISOLLTUQFKNOWYVUONNPKLOMMPPMRSOTY_a]RGDKONGHIBGHKEKPPRQLNKKMHLMKQRQNJBJUVMFDLPSTSPQLBFNRUVQRTNABOUWUUSUPPRSORROEFFHUSOSSKPRUYYTJCHHPXVVUUQTKHOUVRUX]XRWXXRNKU[WSWMFLRVQPOOPNLKNMNSWWSPPPJ??IHA>DKPNIMMORPTZYUSSNMSRQJMVWUOKRSXWWRSVSIEO]`ZRPXXTTTPMMRSPJKLMSMF>ENQKGKKMKOMOTUYWTVTYTPSPOSSQTUUYXNMPRMOPRZZWPQTUJLOHHRWVVX^]XW[WSRNORV[UPRUUVZVUMLORKSZY\ZTPOOU\ZXPECR_gaYKJUXXVRLIFCKMJPMKNOMPSRNKOVRQQPQLFOOTSPPQJCHMLSRQQUTUTRPMPSQLOTRPKMPNHHMNMOVTONNLOUYUMISWUONSQOUQOIGLOQQMNORUSQQVWVTPKFHLNJKPVXREMRLMPQRRSVVTQVQQNJKWWOLKNMNOONQGDD@ERUQZ^[VPHNTRMLNMOTVXSHIOTQLRSUNLFCFPRGRYWSMZ\[\\XINEENF:N[\_J4K]_XWXUTXVQJMKPahe\WYXWUX[\\WXWTMJKGJTWSRVWVTJONOGBLSQOOKKJIJUYXZ]XSSRMINPPQTQLPOLSWUQSMGJMJKRUUVYVQPONKKRWUWZWRQQOPNEFHNRPOMRSPUVRKMKPMPVRIBPZ[WUMKPNKNUQOKMNQMMMNJEKMTTRLJPROKMH@CLKNVX\WXY_^ZTNFPIJMLHIJDEMRSRQPTSWPQOLJJEEINUTRRMMLUZXZ^^XGDMHDKLMOWYULLNOPNLFJLJDBMROMGKXYUPPPXXUPRMTXS=JUUVPRSW[URNJQWSSVPJISXUVSXPSYUQ]d^knnh_F/A3UMPULOTWZbVQWKTXXZWWZ\UQXdh\SXWUONTVWUVRPWXX^b]XVTTRSUWUWWUVVTSYRWWXVVXWULKNUXV]baYVTWNUab^XUUVVXUXZWUXVRVWVWVQU^aYUTVVSYX\XZVXVSWYXV[YX\XVVYVYY[YUXVWYUXTTWW[YTUVLNW]]YWUTSYWUUUSTU[WXYWSQQQSSTWYYYXXafa\YSQRZ]_VWZYSSX]Z\[VYWUZ^`bVURVXTWYXVYYVVSYYWUVUVYY_hjcUSZZYYXW[VVUSXZWXVVUVYZWYRYVWXOXJTVWXSPQWVUYWWXTTQTSJKOQTYWXUTQMPPRRSMPMJKWNKLIW\UMWPQOVYSROSLKPSRRSRWQGLQOQOBCQSIEILRXVUTJHORQLOWVNJPQOJPORSQTPNRJGFKLIGMOPRYTJDCGMPSPSUSFNOKCEINRLELPVZ^ZJJNNLNUY\QGHMNQQMRTQORPPSPHCDDKTVTVWVSHAMSUSMW[TMTUTUTNSYWVWSOSZ[VMIKQVWX\VMOSVRNNKNLMNJGGDHRUTOPWVYZWVWTSRUUSUQKLQVPLUTQVTPUZVGNQSSLGPZ__[VOJKOUMD@EOPQICHOSJOUNFOWWOGPWWTQPPRUWTUONUXWQOKORWQMPNRUZ[VKRXQNTRS[\ZTQTYX\]\WW\ZVTTMOTSMDSROVYVTQQVTPURHHHGLSVTROQR]dd\WVURLPQJJCKUVXZRJPRVUUTTRLMNKKMRRMD@DHORRRKQTXTRJLSVSMKLOMKNLLONNNMPJJHRSK:EWXVSPW\_XIEHQWSNPPRXXWSONPOLKPWTEJRUWVNJLMKFGJOKHRUKENWQLQWVY\WOR\]]XURLQTK@BNPPOMROHDLKOPNJMXXUUSRTHENQRNKTWUSJJONQRSTSQQBAINHS\\SOR\YVZWNNO;BPMPUK4IXZTYNCY^XICBCDSdf_XVYRTY]^]YZWVSKHAGSXSMVWVOJNRTUROIMPQNNPPS]^YVYXVURJKNTURURQRRUWWTNNPKOTXZ]]ZUTOEFMNMALVVTTMCLOMQLGIJILIFIRWPSTQLKKNOORRQLOUPMIHKPSSPNLJILMRWYUPJCJSSOMIHPPOWXTI?FJHIKRVV_ba_d\QPQPTNECDDINQSVRMT[ZTRSQLOHJMXZWQJEQSTQFHTZZSGGHEGIKMSUTOKJOMOOLGB@FMQNBEJHQUWVTOSXPRUPRVQGIRVV[XWVWRMTYUFESYZUUTPMI==KXWSPU[]^ia_[JMIDT^SOMPVX^\dghgVSUUNVJU[VPbie\TRTLLUVUYQWUUUXUX^[WTVUYXVYZ\[_^[[ZZVYUUYZZXZTMVUV[]ab\ZUPSYcbWYXXYTY^_YNMSNPMOTUTUX]`[VUSVZ^YPSYVRPRUWYXXYUZYVVSLYWVVUYUVRRWTVRVWVVUWSPYWXYWXV[YZTVRQORSY[_YXYWXYZXUVX]YUYZTV[\ZZSUZTTXVPSXXY\YXYWWVRY]YYVUTVWUVVXVTOUVSURMOWSV_hljc\ZXZ\YWY\XZXVYYZX\XZX]VWYZYT]^XPTJRRPPPUVVWSUVXUTRSQOTTRTWYZWTRQUWTPURIMPSTRUNIQROQSRNIMVUMQSRQTUY[VQUVQOOQTRKPVTICDHKQMOOJHOTLBHVWNFHMNNHIMKJNNT_]TLLQMNSSQSQQOJJBBIMPVXTPPTLJKMQQICMRQVZVLNSTWX]][UQPMJNSRNMNSSKGGPMPJJJMPSOPTXTCGINPOPTPORPOPRSPIGUZ[YUVWXQDLOMRROKIMGKRRQQTSJKSTPIMIHMQSVV[YUUVTUTUPOSQKJSTRVXTY[WRVTKMLKPTSRY]_ZQQJLWVTMFEOUUQPRTRJPZZSSWVRRWWSMNPQROPTZ[X[YWTMMKOSRUSNEMTYQDQVTHJMNRTVTXWQRSTQRSQPPOVTVZXOLMLNRYVOORQRQWUMGEFISRRWUREIMTTRRYWOOSPEJRSTX]\TPQY^ZUONNGQWPJMMMJECBEGKOVTYTQMNMKKKHDFIKIMMIHFDGKMRPLQWROMX[\SLLQQLMLGCHKIKMJPTQOJIJMMQPTULDGJLQMEEHLHBMMMNTTSOUVRQVVOLRTKMVZUQW]`]VNGGRUURJEGJLOTWYVOKPNLROSLLENVTNRVUQQVPEFMNHOMI@;=GKMLIGJTWFKSYXUQc^K3KNPRTOPR^cktqhaYWWRIDMRPNKNSQKTWUQKKPOEDHNUZUOHBEMPTJCGMUXPHKOJHILJOPQPOQWPLRSIJQYZXWRMMKMMNKISYOOPVUNMRRNOQLVWXZYXWYPEAPXUPTTB7LJACJVMFELWYTI]^`eZcffRULPXb\WRUbh]SSNUS[XTX[bdYVSROLTUUVQMOSPXVXUY\dg]XXUTZZZWYVUW[]]YUWXVXTXVTTSV[`_]YYTPU^^XXVWVVVY\\ZXVUPYRVUUWTWUYWWWUX]ZVUTYRVNYUUQTZ]ZTTWXRMWUOXSTSXXUUZTQSUUQVVXOSPYSUXYUXZYYVXWUNSZ[[UVXVYWX\[[\VYZURX]a]YVUYTOSTSVWWZVW\`XYYYYWWQUVX]]YWQSUPVZVUXUXZZWWVagcZUTVY[_Y\[YYWZUWUYXYW\\XVVZURW^WURWVJSTTWUPXLVVRQVVTTQMWTTSWTSLPXSTXSPNJVVLQTVSSPQTSWWUTSWWWUUMMPOPYYUURVYZVMIOQSROPQNLOOPQNNMIHCBJPOONKJLOOONNNMY`_RKKIEOVTONJQROIJOPQPWVVRSPKPQIIOEBLSLIJLLQTXXX\]\XXXODHTQPTSNMNIHJPORNOLSXTPNTUMCMW\ZVRPLIKKNOURJR\]][VQQRKIIQNCDMNGGNPQVYSQUULKRXVHCILKNPOTUVW]]\]WX\ZZRPUURTVZWSORSSQV[WUW[ZUUR[ZXTQPW[YXOPNORSQSQSNHHOOSVPKTSNKPQVSRTPSYZXWVXTNJICMUYXTUQPUSOKNNLKOGHPQQWYSPPKKOQVZSLNNMVZWRSRXZWUUNOPRRNKPRPSVZZYSPRST\_XPUVRPWWXUQNJMOSSQKRX[TPTPJPWUORLMMOKGMRVWVVMOQSSTRLIKJEEIC:BPUQJKU`c`SRPJRUQORVRPMLNOKD@AGIHJBEMTYOJOOQNNQ]^ZNFGNTTJFMNMJIPSQPMRTOJP[[TPRSSMQTSLP_^[NEIQRVYVMQNNEFJNQUTWXSFHLLOMLJUUNNMKKLMNKEIGAJNRMIH?ESXMMOPMGPX\[[WQOFOY]agcMMSO;9=DFOPOHPY\VTTPMILLHFGNTPYad`YTVWOONKNTTNGGFMPQSSNNLLPXQKLQOMHNYXVVYWTWXSJHJDEILG@DLQNNLNPJFLRWRIIITYWSUTSPJNUTLLMLNUPQLNLILPKKKFPTSSWSKILNPPNMF@GTVXRHLUZVPGGJW\WPOOPXZXZUPRTSQMKIPTVTNMKHR]iroke[XURONTQKLPQPRXYVMFNZ[ULKJUVWSOEDEFHKIJJIIDAFHIFCAAGOUQOPTTLUXRTZ]YXZSLHMQSTRQZYVOX\XRNRQQYSRURSRWYYSQRWWYYRNOILPSRSTTYSRZceokbdXfi\W]gUUVNVPNSY\WLSYXTcf\XTUTVXWTNVWWUVU\[VX\\WXWV]fe]TXW[^\VVSTURSZ]XYSOTTY[^]XSRYdc_XXWX[XXYYXUVSTVXVXXVVUNQVWVVUSOMXTUVVWWVXZZWKWWVVKSWXSXVVWXVSLWMUVNVXUXRSQXTUSYXMKRRPUXUWXWYXUXZYUXW]ac\VYZQVYZ[_]XUVQSWZ^VXYURVVVYVZVUWYWZZUMSQSXXQLPT\WQ[OONMPTRWY[\^XVRY^de]YWXXZ^^YXZSTWQOWTVYVXVVYWWTQXVUU[WTXVXXSWWTRVXWUVTVVTTPVVWVTSXNXY]XVPQQSTUORWWWSOTSVWXVTUU\YWTPOPSSWZWPOQWXRKIOVVUVSRNQRQMNNKBCKMKOPMMGBDHKNPSPNS]ZNIMHFMTSPIEMPMLMPURQQQPMJLMPQHEMKEIILHHIKGGR[ZX^[USWNDLRUQSLHKPOONRTPOQPOQPRPRRJFJSUSRMLMFA@GMRPHQXXWVTUSPLGLHOLFEKIBENRS[YTQRQMNRSQLORKGJQPSXVU\a`[ZWYYSX[VQNPPORKEMPRX[ULRXXSSNNWWV[ZZXZXSNKJPRTUVWVQNOMNQNLTXTVSQTTNRRSXY[[XWUQQNEJNSKPUYSPQSUUPOPUOAOQKILKNSXTNRU[[QPOHGNRSOQTTRSUSQRSVQSUYSPPSSTTQUZWY\[UPMGPV]]XOHENSPLJKJPONRY\UVYUQPIILLOPSTSTSQUSYRPVZXQNOMILE:JTXSMV]bb`^^[UPWWOLNQOUPIKLFIJLGGKTUUUTLGQTPOOS\ca[QNSZ]ZQRTTSNMV]XVVPKIKTXTSUXZVQQPSW[YRQONQTUZZY]^ZOMOPMTYVVTPPQSWUQOUWRKNQH@CLQKRPLNQUXYULFU_]SLCBLT]WQLOOOSNiih[UDBFGPS9?QPPPLIY]VSS\RHKPNIAIMILSTVURS^ZKMUPPQOMLKOSWYRLJNMRZ]YUTPKDJPPRTNMMTWWKHOKHNRH?EMONMMJSTRUSUSOKHJOROOSXYSIOQOQPIJPRURMIHJQVUSRRSOLNQQUQNGFQTRORMIMKIOVXYXUMGPUPMQOUXVVXSNW\Y[ZUMPRTPORPSUPWadhjcZSPPJONGHLLRUUQPKIU]`ZUHJMPNJG>DNOOMTUQJJJKNIKONIGGMWSNMLHECANSXZUILMJHJRTSMTWZXWZXUOPLIPXTHUWSUW\ZVW^^[XLINUWWQMX\XTNNL[^chleZMOWYUR_b\YVKTUXURUPWVSV_`UOTVSMPVXWPLPQSW]ab`c`WWWXY_\WOKTXYPMSUTXVZ`]WTXSWZW\_bgaWT]`[VWX^\_\\WYYWPSU[ZWXZWTYWZYWYXWVURRTWXUYUVYYYRPUYZXVPYRXUWXVXWOTX]ZUSVYXNPYYWWXUWSVWWUVXVXZXTRTY_[VQU\]ZXSX^\UZZY[]Y[\XWURWYXWTXZYVSUUSTZa^YXXVPQNMUVTWVXSWQXWRWVVYYZYVVZVU\`beaYVVVZVXWWYVPQOMYZUSSY[XWZVSYLZSYVUYUWPPWUXYULSVXYVY]a`VTXVYXTPJPW[VPKJVTWVUSXYXVVSWRWQNQQURSUUVTOWWOPMJJJTYUOMITTWUQKNPSRJNSTWSTWVOLLIHCCKUUMLPQQPVXXOLJLJJMJ@GLOOPTSTQTUSQMJPUWQMMIIIFKKGJKDDLTVV[\UU\ZSOTRRMNOOMKJLU[UKNMMJIJRWURTSQNQTTVOIHKNLONJELNPQQNPMHHLKNJHORNKOOLTTPNOMHJKLOQSSTKKIIQWXUVY\Z\USWWVXVWQOSSVVRJPOT[ZRKNOSPKINOSZ]UQPSTTUXSRWVUVUWTMJQPJKTSZXSPVUPLKOPMVYSRVUPRXSQOOUXYWVWRPNLDKUTRSPKJLLRZYNKKOZ]VRSKAHRUTPST]UWYURMKTYQNMMLLTY\[YRSVV]b\SJ=@R[`\VRMBIKINRPOJHQ_d`ZYVNKNOTSWXUNJIRRSXVTT[\PIJOTRMEEKRQMORUWVZ\[XSKMPOLKILUYQQUTRTQRPRWXWPQPLNTTICAQYYTRKMRZYQSXVSRNW]^][XTTRUUTTVWVYZXTV]`\V[YUPUY`^^YXUPPVRPSVVTURLMNVZYXV\VNX^TUXYQLVUVXW`^^YTQXWYTVSSWYVTHVWE@PWV`ZXUXMDEL=KTXSSKHUROCHKEELNNLGOKEFIGGQP[caVWXRHHGCAGNNKOOQQPNMQY[TPOPNIIJSRIBEMV\WKKMLNNHIOMJNSRQOKMTVUQNPMIIKOJMRUQHMMMQTNMKPRPKKOPTXXSQMHIJPTTW\[ULFKILROMPNQSPROQMPSONNLLPTTTUQJMMTXXYUMQQONOTQNWTNLQcnof]WONJL?@CKQSTXWVU]_]^UMGLQOPKLPLLMKKPKIMJHMQKTSXWSNKLIOQMJIEMSNOMLTTRJKTZSHGOPQQRURLONDJTOIUWT[`b]TRUVUJ9DSVYYUJRSVZYXfok^PMLC>2EWWK85:VQMSHUQOT\WVRQUTUIJJWRZWVMXMSWXbbeddb_XRXUY\^WXXUUXOPWWWWUac^VVYTYUVZ`jql`XXVWWXPTXYXZ[[\UUWTXUYTXTUVWZZUUUX]]VTQTTTUVWV[\ZVY]^[TOPVZZYUWVWWQXTWYVXUYMXPVUQOTSPVYXSVXYUXWONRXVXVQSXWURXRWYZVVSQYX[\VVZWXUYWTSUVV[UWPTW^XW\WZ]ZWQXXYYUTORTWXVWYZWXWYTPZWVVVUY___]YVXTXTUSTTWYYZVSOUXXYRQPMPRXVYRQWMLMLOUUOVMTURMVZ\\XXWVUZWUXXXUTUSQXVSXVSUVTUWRPWXVKRWTPRNOTRONQOJMMFMX\ZWUMGHSVSQTRWWSTVWYWNTVQLJLKEJPWWPU\_[US[^VBGPTTSOKLSTOPRWWYYZZTPOPRTSK@=OUOLKPVUFGTYYXTTTW^bXRSUJIMMJIKMNV]]WNMKHEJPTPMOQQRTUWVLGJRXVOLHFOMMLFMNILQPGBFDPRNLLPQWXNMQNKQSOQPKTXYUQIB?DEEGNUUQPX[XORUURSX[[WRVSNSZWPLCEORPPLLNOPOMMTZ]]VSPLMQTYYQMSRPRSSVSLRWWTPRPOHNTNHNMFPVZSPRSSOJR[XSMLPV^_`]RJJMNSYUHLVQKONSVQICFJOW]\XYY\WTPMRTTNLGKNPRTXXSUVUahf\RMJQZ_^^XPFB?ISVTSSUVW[YRTUQHIKJLS]^YUSSUUSTUTXWHFHPTRMONLNSWUNHCDLTTPKFCGTZXWX\[\[Z[YVTRVXVXUNSWOFLSND:FRTYTPMLRVUX\XTTPW[YY\\]\ZSNDEIMMHQSPRS\`\\^YTNQW[YVQSLFJKQSOQXZWRPNMQQRQQJCSWPSWPMSWRQOS[Z[TKSSTUYYMKOWUKEQWG7PXZRQY]SVT;GRURPOWXUNMRTSVTLMMOQUZXPIB@>?AFHIKFGMVWUUZ]ZVSVZVW\^ZVXYURKHMOTVVQQNPRSIIPSY\][UPRTPOKHLRTTRRVQKLPQUXZXOMHGNSZWJIVY[XVUMJDCGLQROLTSYSNGHNSTUWUTRQMEGOSXYZUKJTZ\YQURSTVRPPMOPLKTX[WQNPWYSVdgbZ[UTWZ`a[XPMEBOWZ\]\XMITXYXUOMOMHIUX[[XNMRTTWTOMSUQLIQRTVTQUXVPMGFQYZRMIEGRSNIPSXY[ZWVPFJMQRWWSRSQPSXTPPKRYYYUSRUXTWUWUVVWYRSXWNRXYWSMKQ[XVQLMMRYZ]`]SMKNUZ[WYYSLIVSPRYXSOORWXWTSQPPZ[XUWKLPOQUW[a[QTX\XMMWZUKRWYSTPIKIJLNOLaZRIJD5GPTISPHBBX^XVZRNSW\XVQJEEFJLEGMPRH?INOVVVXUJHEDHQNJKHFHU\XSRVUQUVSKDKMMMLNNIJOLHKHDDKPVUMKOOJLJGLPOLIJNSUUJFGILGGPTQQOPSTPMQQTWYWQPVPIINOMORTOY^XUUSPGGFKNRLGPPKIIKIJU^^WVUOH@EJOSYTMKQRPIIMOQQQNT\cff]XUWRQOIJKJKLMLOTVRE?JOTOFJOKGEGLTTUILTTNJLLNGHOSNJQUIDNQNKPXWPIKQPMMOSX[XUWWRMORWYWSUMHMU[YQSSSRPRQRRLLLCJIGIGFGNPVaki^V]RHV[XJGPZXZXU]```_TUWUPLSb^XKTUUVTMWWWUUVWU\YXUSXORTQVPUQMXVZZUQVVUTXXVYXQTXX__acXYT]eicXXMXWUWTW^]YX[YZXWVZWW^^XYT\^XXTVXYWWTUYTVUYXXWVZ]YZYVXWX[`a]XSUTWWWYYW[XWUXUVUKMKYLVTYPOMSWUWYVWVUVWTSWWVUXZVSRRWXWY][\YWRTZYXUVUZXW[XXVZY[[\aca_POUZWSUVSMPYWZV[[UMVWVXYYPPYVTX[XRY[[Z[YUPY]\ZXVWVVZWTYZWXUXPQORXVTXTSXWOSUYXXXZ[VYVYVWUKOTPNMUXVVXWKOSTXTUWVQNQUV]_^XLLSLQKNLOPSTWYRJMOPPMOSVVOCDMRPV[ZNFEDCCJRRMMUSPMGJJIMEDHJPS\dc]RKQTURX]]QJRONIIJMVTMEMHKUXYZUUXZYWRRUNGCEMQNMIMQRKLLPNNQJGMQJNTZZQPSUYYYUMKQRSPPOINURKKLPPRVQQV[[]VQLNOU[^a_UNQXY_SPWIMPMNSWUTRNNUYWRMKTZVLJXXUVQUSPX[SNIKSSRTSRWWTQMVaa\XSRQKIHJMYa\WPNOSROLMOSQPRVWUYSRTWSUPMHJUWQOOILPUTWWWQUVRKNQROMNMNSTWSWXWVURZZXXTMQTRWTRSNLSRNSOMKONDLWWPPPJSYXOPD>CLSLNQOJIEDHSSNMOMKKKMJJOONKMOWXQNIJKGWXUUPJBEKT[[UVPEJSXWRIKLMRVKJOUTOQQAFMEC?QQFURPLSQNGPQOOW[W[WUMU`b^[TC==GMKEDCDOQRUWZ[ZWXWPQW[[VTPOIKKGV\YRSTRY[ZQOUW\XNKPLEHIIPQOIHKQTTQTQQSTOOSMKKQQPSOF@FMPQRQUXTTMILPXXUPOTRNIPOIOPMOOMIMY\WWWXNJKORQOMHKPNMKLLEQ[YURWSNGIOQPPOQWZUOSUQRVVWSQQX^aeebZRPMJKHJKIHJPVWYPGJNLLILRTQGCJS[ZTNPJBKRS\ZQFPVUOMECRWSGDORXWUTMEHFIUZWVY_ZVSTTWSLKSOQY]ZZ\RTVXYPGMQURJNOJHDCEDPVeopng_[WRXQ,FSPJNSSOGGFPNKLQVY\[SNMOKLKJFEILRTTURQLNMLKKKNUVYZSSXYUPVWQQXRXWUPTULNUWSGDECGOUY[URLD>JRSPTTLNWTLFEFGKXdfdXGGWVQMZ\ZRUUWSQNNUSHCGHKVX][XQHIRRJGPRRJJLJQQMMVVTOMLIKSWW]_VMVVXPMMOTUUUQLMR\^XUNOXQIMUZWNOMOXVYTRONNKPVWYXVSOPQZYTW]KSUVQNORXY[WPNMEFFNSPJHQSVPMPVWXYXUNLQSQSY^`]^ZXWW[UOMOTTNMJFR[ba`WOLJLPQNHINWVNMQTPMNMMQSQMTUOGHFGKPX\]WRUUPLOY^ZSPLIQTRNOMKLKMVWWXVWXWVQTYYTOZ[UPNNNMKHRURMHOKOWQJOPFHRUVRVTWWPLLOLJCIONNOOVRMNQRPLTSQQRTSOSRMPSONJNPRVUONJJUZUHIMPHJUNFKYYWaY>IVLBE`ea`]RKITMBLY\QNPJOTMGPW]\PJIJPQKFLQQTRPT]^[WJIMOW^cd]UTTSMLJKVVSQPPPUXRQUURUSSUPJJECIQOJNLMRVVVUOPPPROHEHSVROPNNNKIMKLUUVRJIHOUWQNLILLRNFJNPKMKJNSYYTTTTTNNPRULEFMRRQMMJHUYTMPXRHBEOPJLHKRVRIOQHLSWV[YUNKPY^[X]_VJOSWURPNMRQTNKSVTQOKLVVSPNLKJPTSODHGPX]VJEOMNOQPUXWLCHLRVTVOIHG?BKJIPWW[YUPSUTUUQKQVZaa[TKPYYQLOWYRS[VMMRSWU^ajliaYNNH@GSVJMT`b<\dSJW[ZLOMRS]TTTTVRVQKQTXSV]^SOLNYXWUWYTVY]c`ZQYTUKZ\WVY[`]Za_ZX\YZ]]VYYUTVYW`b`VTXUW^YYXXX[VX][VVRUX[ZTVXVVXUWXXYX[][VYWYWUW]a\UYUUZ\[\XWUXUQTWUZVTUWRMPWYVTTVTUX\WVYXMQVYWVLPTVXVYVVWYUZZZVPTWYWXXXWV\[ZWXZ[\ZXV^`\]Y_^WWRUWXOV\\YQWUXTYXWXYXXUXTQQSTTVUTPVXTXVZWWZWVXUPRT[c^VYXTTUUTRNLWXVUWVTRUXSTPRYXUTTVUMNXXVXUUXTSPOSXWUWPRTVUSUWXVUWNQRVUSUSAGKLKHJLHJJOUPQWTPJLQTRVXQTVQRRPNGGQVXUQMNRSMHHKRVVSSNWZXYXPQPLLPMPRWQMUYULFCHT[_`WNOTYZTLINNMOTSPTSMEJKIJMQSTSL@CJQQPIIU\TLDAINOQQSUXTYUIMOOPNOSPNW^]^`]UWZPPWYPIONJVTRVZUNIOROGJLLMOQXWPPOKMPTUSXUTW[WOLOQPIJOW_aYSX\TQTWUXY[\ZYRQTOKPWTTVUVWWSFBQSTPJIKQNKMPQUUVYWSPLHIWZ\^`Y\]\UMF@EIMPPRPQVZ\\VOIMJEIKSUQSVVYWVKDGHGJMRNPVVTQOOONO[aZWNIC;JPSWYVTPGGKHIMQPQU[XRRUSPVY\\VSVOM\gkgc\XURQMLLPXZSJOKJOT]]YSOLJNOLNQSSPKLQSQGNRNPXVRSVJFJRRPPSYXUTVVSOOVZUSPQRVXUNOQWPRUYTUWVX__^]YUVPLUXPJHPOOTRUXSRTZXSOMOQLKNRURUWX[[WSRRRJFMRTPSW[aXWYTTRPQSXZ[XSUUSLFPUMMQS\ZROQOX^VIQZ\\TYZROSW^dYAWWOQVQP`_]WNCR^\HKWZTMEA@JIEQUUPILLHFKKNIJLQTPINPTYQLOMLMXZUUVSNLGCGJRSRONLJLIKTSOQQONIMQPLPTRJPQLLGBGMMPQRTSNIGEB>FNOLNPKJHIMQRRTVSOVTSSPMORUYSIKJJORMSZ[VNNLRUXUOOQNJJOQRLKOSKNUTORWXVPORQSSTLLKMIKMNTURTZZULIJEKRU\c\SIOSQLMQRTMMLNSUUQKIIOQNOQONPRV\WNFINUUTPHI@:LSSW[]XLKORQSSVTMC:7AFHOONQXTOOSX[WVNHGGORQUTR[]RHBRWNSXZMMRRQRU]chgd^]VFEPNPG>Ujle[RBNQQJPQMPVSVR]b_[UVXSWPXOT\WSPX`dWZ[ZWOSOW[ROTYVPQUYWSWZ[VWXVUWTX\YUW[UOPVV\ae_XPTYYXUNQUWUY\YW\YUVYYVYUOX\_VUTUXZ`a\WXUYVOTXXQVWRWZ[Y[[UUUWXWYWYYUVVTWWSXYVTTPXXWOVVMNLTWYXYWLOUVZXOPSXYUUOSWZWVXYZUZYYYWWYUVYUX_c`YQY[VUVUSQYTXVSXWVWXYZZ[YYWZZVSQV[\YXVVMQQQYWOSNMUSRV^bd_^_[XWUSTUYYUYTTVUPLTLRNLLNMMQV]WTSVVXTVUZ^ZWRWTWXTJXTVUTUTX[]WVJKMQRTNRLOSSMLLLJLXYSQVRKMNUTRUVOR[WUPHGPVRUSQRXUPLKLMMSVX\YSRRUOMLPVOKHGCKQRLSVXSNJIQX[ZPNJMWZVORWWVPOSSTWTPQTVRMNLTXRRJCBPTNKOWXSILNUTPRX]]XVVMJQWYSKOSRU[\SSPLSYTRXXPPLEJQTT[]_URQROTXYTQQSPRQSOQUXX[ZYQQXYUUTPMJLMNLU^]WSRQOTRROVVQYYQLOJGT^_UKKJJRVSKPTSPMKPPTQTPJKPNKJLTRMRWZW[YY_b[TMNKGCDLTYSQ\\XUXUPQPPQVXQPWYYUZ\[TVUNIRLGQZSNNQPNMMPYZUHIFAJOQQXZXOEFDFGJORRVXXVZWQS\`a`Z[\YSW^ec\MINJHKMOKT\ZUROOLKPXYVOJKMIJOSTNJQUVRQNSURNTWSQNMLKSZUSTSPNTWUTNFINOQVOKMSRRLOVVSUTXVXVWSV[WRKNJN\[UPNLLRZ[[ZYSSY[WUVWQMSUUV[RJORSNMMSSSOQSQNSZab`VUXVWSTY]\[]WQW^[PSUMMPPWXPKOU\`][Z\\][QOTOJO\_VJPOHMUPEHJOFDFCQTES`_XRLDHFFLX[RLPOND@?=DNJHJLMKF@HOIKNRONPUQWYXWXXVNCCMJGMRLEJPPH?BBHKORUTQMONKRTOKLKDGKUXUQMJHKMLHHMMIPUZXTOLKPQQSSOQX[^[YUUVYWRKKFFJBLZXPFJMONRWUPPQSYXSUSQVULKLHILTWYTQOKGNPSQQPQPONLNLQTRMIOTRIENPNQPORUSMPTUTPHIOUWWOHJRVRLMNOYZYUTXPKNSSPPPURJFOQTRZ\YTLLKNPPNJC?=BNQQI?ARZYRMMLORSOJOKLUVWNOX[VKGTVRIONLNROGFT]ihih`WVOSL?>A;XdjbYWRT@SUQWbYSVTKWZ__`]\WXXTTWXUMXUQU[WTVUTTPMMWVYYYYRQQQRPYX`^bZWTVUVXWWUUUPPNPLOYXYSRQWWVUWWWSYZYOXYYWXWVURSYWWXVTUTV]]WWYYUYTZ\UTUUORUTX[][WTTXTWTPYVYWYSNOPSUWVVWUNMSOPVUVYZ[\_]WYW]WWSVTXZZYVXYYVW[YWTSMLXXUPXYY[ZZYXNLXXVXRQNPQZYZ]^\WSXW[]WSYNUUXYXZZ^_\VRPUWVYXWYTVRSU[]XYVX[VSUPVPSPPOSVVUVPKRVRWWKORRVXXVTWSRTVUUWWSRUU\[ZVPUUXSTKLSWVUTTQSVSSTRKLQSPUMBGMZZQPTQEJUVVQUZRTTVTOKRVVSJKMQQTRI=DKONIMNOMNV[XOONVTJFDLSTRPQPQPRUPPNNRVSSTSUXZYZWUHEOTX[VRQPTSOOOWZ_ecWLITVOEOUVOQLMTVUYVTRVTRRPNNJDKVSMLOMKILQWXSQTRLIKLQOW[YRMNONRUSSRJHIQ[_YVTVYXUSHMTTW\[RQQTNDHKGHMT\\YTRSQRSSPQOJAFFHSXTJMQMNWVKKPQQJKOPPPOQMMGKORRWTMLSQSUTTXXUNMNTQQOPXYOKS_^UUZPHIHMQQLHEQWVT]`_\XNKSRMRXWONOJQYYTRRQOPOQPOTV[]^WICDFDLIGGMRUUSRSQU`gg`VQYTSNT^]XTRTMHJNLEGQWTMMPMKS\[USTULKMNQTUUTSMMRRMKKIRVVQOUXNORPQPSQMNNKIJNQNEITWWXY\THFIPRSUWYWSUQLRNHMSPSYZQRRMOW\]a`YRUYYYRWTOPSSQ[a]PIIJLW[[VMMSTQORRRY[TLRUSSTTVVRPRLRYZUOPMMM>GLJOPUVVXVTVV][RKSVQSXUJKLBGPOPPXGLPMIJLKIFKSSRPKOQHCFLTXTKLONJIIINSUSMMMNXZWXXZUPSQMGMPTVTTWY[SHFKHFKT\^][UORTTYWU]XMLPFCFMMOQOJKQPSRPRTTPQRMNNNLKOVWTNMKKMRSNLJQWUTNSVXVUVTPLBKUVOTZULPPTRQSQMIWYWWX]\YQJQSPQYVRRUMMY_\UUSPOPRQTQRY\YWHFOOMFHB=GNOPSKHKPZcda[XQTTUTZbb^VVTRLNNLLJLJIJJRXXXQNR]YVTUMOTTXYTLCQSRQNLSYWQLSWXROJJOUZ[XPNNSVSQONRY```[RIGGLRSVUQPPTSRTOGGMNRVURWYURPTV]ZOINY^XQMLJMSSMV^XOKNONSVXTPOPMLJLNGKPPSTSMLSXWTOONTWVUNLJPPKB:?CLRURLJMV[\WY[KHNHKRNAIKEAPQSTY`]FHROT]YGKGBKSU\\YPC=QZ]\XUTPNTWMIKU]\XLKMVTNOV^]VOMTUSNTXVTQXYZ^ZQJJIB@EMUTOWVQQOMBBNWVSICCTUPI=BJNOKOOOQJL[_YTPKLSTQROLMPJBHPRTPSUQKEBJOTRNLSQMKFGCEJGFJLSUTEBGONLNLMW\VQQFEKLOLJIKNPTXZTRRJIRVQMPHIPLINKGFDCHKLIR_g`VORQRKOPMQRMOPNQTNPUZXCCIHEGNRROFLQQTOIJPRTRQROKNNF?OVUTRLILLKQTTQUWVTWTZ^YRUTTQRVVSQPTUWSVVOOYXOEHKY`_[\fbUY^aYVOIIS`jgbUG :WRQTPKMVZPUJWSW\_X^c_XJXMKNUNOOSPVXXWTQNOOYYVVTWPOQTUX^WTW\VUYYTTQQRPYVYXWWTSVXXUX[[XRTQUW[aUSVYUYXTVUXWVTMQVX[[UYWUYUVSLWVVPYXUUXYVUUX\ZUXVQMSORV]ab\YRPU[_\YNPYXTROPSVZZVXYXVWWUUXVUTYZYWVVVVWYWURZUSRNYZWVUY`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`ZUQSSVUVVYXXTNKJGJOQSPLMQTWZUMKU[TIKOKFIHOQXXTQAEAJIKSQU^#DY_^\OPVJBVWKKLE:O^_^XVSZ\PJKMD@QZ[UTJGQSPPYaeaXSRVPNQQSWZY]bdaONRQJFBDLQRQONOONMLQYXTPJS\[VRJBBKPSYWHMQR[^ZVOIOSUWQLNQUUIKKLKNSYZUOMQQRQRPXYWTLDDFOPMONQWWJJPTRUVNNQQSSSOLPMPQMKJDJPUPMMPQPQMNRSPLNIHNMIHKJKNNLJ\df]ULONMNRPLKJHMJMJLPPJLNKJACFIMSSOMNQRTSRRSPRQPQLLOHEIQRQLFEHJMQTQOORSQSXXZXRUVUUSTVWUVW[ZRNGDFMSXVKLU_bckpoib_WX`YB:;M_e_a^[\[^_JVWW_[WZSPSXZX[\^WVTVWVNMVU]WSMOTWUVVYQOLRUSNVKVVVVXY[bbaa\XTULKPMSZ^^\YURQX[[^b`YUWUXWX]XTX\VWVYWW[[VUWYXZ_]XWQUVWXRNSVRPYUUW^_[YVRVYXVWRROQUUX[\XVQXLY]\YXWSVVXUVWUYVYWVZVUVUVXXYVXUUVYXZRZOYUSYTUWYZXWVYU[XXYX[]YYVXQMOLNXWXYVXZYXQUUZVZYXSOOTRORWWZYX[XTQOTQUXXWWXZYYUUNNUWSRYYQXUVVUVUUNLUNPPUVWTNXOUSNKTLQWWTYYUQVWSUVRTTTVW]]SSWYVUQSTRIWQWPSHHQROPOW\WLLNPKKONIKJIOUVTORROFNQKEKSQCFRSNPNMOUTMGNTXUPSVOEDJMOPPTXVOQWPFEPROPNGLNHILFAOW]YSNJIISXY[[YLKNTVTXUSZa]QHOZ`XRQNOTQQNPNQMLLTNJNMKLJGBBHLGJBDHLRSOHFOQSZ\\TSLKJ?JTONPOLJSWVX\WOIMOJJSYXURXZXJCKPUUPIEKSUOIEPY\]VRMMKNQQVYWPJRVURMMIDFQSUUTLLTQOIEKTYXSPWYXWURNJOPRRQMRTIMVYTRLB@KJINQUZ[`^XXUTWX]ce^\aaTG[b^TTSRQVYURRZZSINRUPPUTMTWRMW[YPJIE;ELMNTVUU[]Z\ff^NLNOQHMWcdb\TSYXSQQTXPMMPKNVXVUVYYXVNKTUQWTPSWUQHHLLJNRW\YWUOICGMKENOHGKLJMSIFNWVQIALTVWXVOJHOPLILNVYUQX[XQLPFALXZTUVQPVZXYZXURUZVHSZZSUOKDEFJOXZYUQQQLLOOVYXXXXUOOSVXVWXVQPLEFDHU^_VRMS[VG=HTODILTRQOY]Y]_^VT[DDPGCNUTD5BFG;EHETRMB>8=APWW]]UYYZNDOUOFRRRSRLVYZYSRV\[UPOLJMQQWYZYUV[\SGMMIKJ=AJNPNMOQOQMMRZZYZYXZZQMIDIJQ^[SRNJLNNUPFLRTXTKKLRMHGPUTMMQVRMLTSKDKQSSTRMIJONPLKPTUXVTUVVTTOKLFJURPXYVONKLKJEMRPHBJNTVQNQWTNNIJMNBJQOQOORUW`dec]UPONRRSMKMNKGHNVZVRWUMKHEBEKMMHJEFNSQMMONGKPORRIHLNIDCJONMROQPTROLNROLMHKSVTVQJPQWW[]ZUKGIKPVX]\VY\__lquql^MQb^PF;?XdRLZWWVN^iJPLWUORWUMRPRJOPWZ`\YSXXT[]YPMPTUT[]WWSOSMNNMPTNMYY[`a]UVZ]a\UTMSVa_\YZTUOU]YX_b\UQUWWVWWTVTUUXXWX[XVUUWTYUXUWXZ[WTOYXVQRZ^]YVYWVVWYUTUXZWXTVNXKOYVXUTTVVSSTVUWTRUWWSOTW\ZZXXXLWSWXUVWUUXVTSVWXXXYX\`]UX^ZWNSV^^^]YVXWVUPVOSQUUXVXYVWYVVVVTXWUUPQWWVVWZWYZTUUSRTSYZTWWZXZZWOLTXWZYZSVV\[X[ZXQQMRRUVVYVUNPXWUPOSWU\ZVUSTSTSSLMSRTRUZWVOWSSLKMQPLNRTTRMNUUPSMPSPJLPRNIHJOWWL@JLOTTWQMVZXPPUN@EOQQWUJLRUQGFHOONQUQDDGDMNOSRKBHSNFJKLKMJIHKJHIFBQVTSPPQIGGOQ[c_UPQQPQVTRVYZSQU]`\UPSRTRRWVVPQNPONGNUVVVTMBHIEDCDHGMPJEJQPRYVYUILMDHQTX\ZRHGPV\^YMSVOKIORRMHIPSQNKMQSOLKILMK@?GRZUJNPLNSRJQUSOMNPQTVVOIKVVSONNLLRNLILPQWRQUWSOUVQSTRNPORRPNLMQVVVIKOSQRNPUWX\\ZSKRVUZ]Z\`d_U[\TKMLGLUVYRLPUMDIONNMUROKOVTPJGJLILPMEIMNNNHRWVQY`b`\PLQRNKO\dhcSHHQTTTORWSMGFLQNUYRKKNUSQVUTPNLKTXQEKNMOURQT\YVNKHLOHADJLNROJHJNMKOQKCJRVYVUVVQCGSUWTSY^XVZ^_UTWSJQYTSS[XSRSPTWUVYZWTRQZXRPQOIFENXXUTWZ][XYWUTSRUWVXVOPRY][^ZWVOQTQNRW^ZUNPRSPDMSNKP[^^PT__V\cc^ZNCITRNMRKIOZUFQCHVSJKNOPSMBR\ZILOLEHPMLEHPJIOPTZ[WUSNQSNKJH;BPRSYZ[TKLPPHGIJNKC?DMPTSQQPOOMTYYVYSLQWQMLLKMOYYUUNGILTUKESYW[[RLIIHDAHW\YRXVOIHRTPKOMOOFBBLNNOQNLNNORXTJLOLENUTMKLNPSTNGJOLIGFJOQURJLNTVRUXVNPMQ\^RLQPTURTUST_flkf\OHKQSUONORIJMQVUSVNKJKMPOIQMJGF@EHMWXVNFFNTUYQDHMIBDEGIQTOHKPPQNRSTNPQRNIKSQRSTUXSOQMLHPTVYVW[UY_]^_eook`ROV[^]SFXecULJSWVU[YTPMMOSSRUYVXSQMMKP[\ZVUVSTVTVOGPUNEFTQJIKOMTVQONMNSPQLEKMMRXVJIRTLDGZWKJQLJFFUXWZZX[Z_c``eaYCAWZNINQWTK?HTXSQSGFORMSSQILLQRPP[YNEMOPQTRTPTZVQORNJHKIJUYWUVQOOLQXTOONSQQTVSQQMMOKGQUYUOLNORQZ[VPTUQPTTTXXUTUTOMUTPOUNNW^YSOLGEP[WJMWjPSSSY[IURRJKKKROTVTYYUPKSPNV^c]SSYUXYXXWY\\W\[X\\YXZYZ]UUWUXXYWVYY]UXQMWVXXWYY]ZVQQXYYXSVWYVX[YVWYRWVXUYW\[WVSUXXXYWLLTVVUXXTXYWSUX]_]^VVW^[VVVYUZZ]VVSXVUPMMMKOUZ]YVUYYTVXYZYY__YXRMOQYZ\WWZVVXYYWTW\YRLQSW[YYXXYZ]\[XVUYZVWX\`[UUURNSUVTXUVYZYSRVRSVXUTRPMUWVTVYXXUUTTZVVYUSQZZZW[ZXZWVSXTOWUTPPRQQRUXXYSWWXLMONQTWWWXURPMMOVUUPPJKVZULPSTVVPMNOTNPRQOJGPRPKLT]ZPJORQQJNQV[^[Z\WPJOQNPV[SGJHGJOG?EFHPOPUQEFHMQOOQRKMLGELX[X]\REDJJNQNOQOJLJKKIHIQUYUVX\Z[]]TMKJLKLJPQRSTVRX\WKNQKKLMLMJRRRUSOPU\ZRLKSWQMNQPKOLMNROPLJNQZWSUPLEFMJDEORQKPZ^ZUQOPRJCKMPNPUWQQPGLV[\XRW[SNOLNPQPVZa`YPKHPTVTQRWYSNRWRDJKSSPSSSTMHTXYWURRUUPLLPQTOOSZ^ZVRTQMMTVTRMGJHLJGIWbfc[XYXY]SLKPRRDJTVVRWZXVQRPISZ[YYYWSLKLLMU\abXQPTTQOKRTTPQMPLFEGDJWZXVMGJRUPJPXYWS[WTX^^VQUYZOJMPRROQNPMMKKNMGIOODOYWUSVX[ZWWTXVSNIKMQSLILMRZ[_^YTSVQHKNPLNSVSONIKUY\TNMKOPMQUVPELKMLKLGAB=GQQNKSY[VQIHPSTV^a_VKKQJFOUTX]YUQOOJFHMNNKKJCHJMNLHJQPJHJNQMDHLMJHRSKEAEMG?OWGKPOGCCMLFMTV\WfeUVTTK:FCBTV_^_KGRZTHCIONJDLORJFEHMNOMPRRSV[ZTOTSKPW[UMPOOTUQRRUUUTWTSMQWUSNMVVQTXVURWXYUSRRMMKLNSPUYYPPU[TQUTMKENMTUROT[WNLHKT\^RQRTOHGMHDOSRMPHFQUPJJJWXWLABCGPSNLNOPROUQRKB<BMRZNTWPE'Vb\INSSSSHTaa]WTQXSV[_aaXQWWVTXKNONQXLTX\\ZSKTVRTWYVVUVV]`cbbYUVOTRTUXQRVWUXVQLNPRLYRX\^_YVWURTX\Y\]XUVSSV^_ZWXYVVVYUVWVVWWUKOYWSRVVYTY[a\WVX\VX]\VPWVYXZWVVUUX[]WQRVUQVWWVUTTWVZWSUYWY[YTWWVWUX]WXZYWY[^_b_ZYYYYZe`XYURQUYZSMQX\b`[_]XOLTYUWYQQWXXVWSOYXXWVVVYYTXWUV\YSUVVWUSWZVSTUY\\YXMVKUVUQVWXUY\YROQNOUSPRNNUWXXXUXWVVVTUTVSNRSRTVZVNOTVROTWTTVUKQYXSKHILLJLSYYRQ[[XROSYURSVYVOVVTSPMQQPJIPPOQRVPQVXVSPTYYZZXQMPQSKJNMLTSRROD8FQWXSPJNRQWQGOUUY\\]ZWTVTSMFMUWRURRTPCHPUTUQRKNRTQLEFOWVJGJPRVRH@NNPQGKVS?>SQRPQQNILMEJMYXPJNTYZTOMSYZ_`[UPLLCFMLORQMQNOOLUURSTNPPKHV\]\ZTTUOMQPNKLMMKGKLUZVHHLEBJMQPGFLLLQQPPUSVYWPOSSQNROLNSZYWUUWVMMUYUOWUOLKTXRONLPOXZRNTVUUTSXZRPQX][\YVPJRRQMKRVPMUUQLMNNMOMPOLPPPKSVNIKLT^]RMWST[^XLPTOMMNJMMOSSTSXY[ZRMSTOSRLGCELMMMUXXTQT[XUPPJJOLIJEHQPNUVYZYQSUMNPMJOVQLOLGLPRMHMQPLNQRQRSRTTSWSNJQRVWPMRTSSNFEJLLVYPKRYY[UNJKTOOMNSRNPYYVMJNQR[XSOLKEIPQNKOV\YTSSPUWVXRKOKLKJS^cd[RIKPMKLRX\XVUSSUOFTX\dgdURQIP]]UOBFKa`JW^]UNDKWWQNLFNVXQONLPTSFEGKKMRSLHADKMMFHR\Z[PIMSTTTNKMOMIPVZWRTSLIHLPPMMOPOLLQPOQSTRMPLMNQQMJO]b_VMDD=NWSOKILU\QQSOPSQRSSKIOKE>EEAHKDDFEMXYSOLRSVRRRSNPSUVWZVUOICFNRLRXWLLQPLROLNQPOJTRTVRRWZZ_VU[c_[WOAJbijid[OX_\XWOPWTW^YKFHKLRNIJRVMNOUWXSEFP^abUYdjaUOQRZiqtmcd]d[MBO=LmnmYSQORVLPX_^`LXWTVV[XTMVSTW[]cbd]WTVXVUYSQVWYVMW[a]VXZWV]]WXWXNLPVXWW]^YVYYWUWWWXVXWXV\ZUQRY^aXTTVXYT\ca^\YYVQPUXZ[_a\WOLXSWWRWXVWVUXTV[]XUXVUUYXZ\\YTVW[^VRNWXYXVWXXWQYQYXUTTTWX^X[[UXXXW[XQQYVSWYTMPROSVVUU[[ZX^YV\a[XYYUUVZYV]_YTPXYXWPSZXZ[\VWSSSW\XYZSLROZQWTRYYWUTZXLSRRRRTPUWUONOOKMRQJKNQTZVURKNTXVXNMQVVVWQTTTQNMTY]ZXVNJKMT\VNUNPQRTSPSRXTPOONMHGLQQTUQORVWOHNNTWVLIINU[\TQNLOSURKQMLNVYVPNKHHMVWVSPHLQTSNKKU]^UJMOQPXUOMKPTZZVPMKMPTXVROLRV_eaXRNPOOOMPUROMNMJIPW]ZSJINRMFJPQVWOLSUTWTMGHKOONTKOQTYSPYXPOPOOVVRLOOPUQLQQVNPTVW\XRNQNFAPUQPOPS\\SQJCCBFIGDKPVVSQQQTW\YWTSVVTQSMBLQNLJDCMQPR]^XX\TJSSJHEDMTTVXVTPHGQVZYPKLMPOOZZYSWRMHOPRY[ZZYSPQSMOUZ\]\YROORQJJKJTYZUTRGKPV][YUSQSRWTQNJFNTOIHQWZVZYajg[LDIRVUPKGJPPMQMHFGRSMPTMOUWY[YUSW[WOHHFIHKQPLRQNHISXTUQMKNTXM@NTYXSIISWOGOWWTVWQRPLRTTKHSZXVSSMKPVSRHMQT\TQPURM@DMLNRYZWQMV\YVNHMMMPKMILQSW\]\ZTPSSQLKHOONKPUTUXZTMNGGHNRPRROQXVLOVWNJNRTMRZ^WSXUOPKKEPWQPQG:LROU[WUWW`]QONP@6IRDM_]UGNXVS?GRRJLDKMJLNOPNMOVXKJFOSPMVacaWQOPXXYUM@PXYVRZYVW\ZVQG=BJNKRUPNJAFIQWWOHKNIGFHSVVSV\_YVUMLSVUQTQHFDLUZSPJBFPRVVQW[XWXSMHCD;?GQNQQPNNMLOVXUROLQSOGEJQUVROMQWVRRROORMRV]]WTSPPQUXRJNMPOKFGKQJDNSQLRPRRQRUSUYUMIKLX]YXXK@GOPQQSMMHNKPNONQRMKQXUHBCFJTVPFORRSYYWPTUMGIIHJMQTXSOKSXQMIQRLQYXG=AEFEANOTSZW[SUSNJGGP_a`YekfXT[RI[fmlgcf`aOJ?PV\fePTRRIOO_ZYRWTXVUPU`]TPWUTPMVab]aVSVMPSVQQSTUNMXZVUMVdf`VYZUUMMSUTWY[ZXTUVZ\YVVRQVW\\\^YYWRVVYUXVYWYWbda__ZYVWUXWXW\]XWYXTRWWUUXXUX\YYXWXUSWVXSXYV[^^XWY[XVSUZXVXTMQYVQYUUKNPVTRRPNWYRWYXWVVVTVVTWXVUSSTRNMUVYYXZX]VWWYYXWVUVZYYYXZURWXXUPSXVYZ\ZQPLVVXXYVUUPQU[^ZYYZWTXWTVUSZXWTTZZYWMNRRRTQLMVWRTROLSUSWWTKNWWUVPNPQMLMSU]]VRVWQUNVVRLJVTPQUPLQVZYTXVQLFMRQQVXWVSTQLJJKPSPONLNRWUQLKCGOVUOQPPSQWUVTNIGFKRSNROONKKGDJNOPRNPO@@NSQGACGQSPHHLMTVVSNQSRW]a^UHKQSTRNR[\WTRJFBGHSZ\[XYYRJKNQOSMLTYWWRNFIFKOJMPRUOPRQPQNHLPNFKVUTQQOQMJRXUPMJLLSVOSVVUTROFHOPRZ][ZUTUWQKJQOIHFMXUPLPQPVZ[WVQIECIUUNEIKHLPRQSNJMSUSQKFNRMIGOS\]]VJDLPSTONPTYVQRTYZZYRLNKKX[[Y[UQXWTPUY^`df]XTPNRUMPV^^YPMJNONQT\WVUPLOMNDBQVQMOS\aa]UVac[MGGNTUNFEKQUQQQHFNRRPWXJIUVQPX[XYZZSTRKDLRRPQTPGBHNPPSQOBIQOGELOQUQQRZ[TGOTXUUUTSKINNKJILNRNIMMTX[[TLLPY^YMRUPJGIMRTSVYWSQRNKQVY[XVONMNKPQORVUTSSUVVTNIGKLKSVX\]\WRTUPRYYPNPLPSTOOSOFHMTYWSV]]XVOHIGHORSIFPNNOPSWTMWYPNMHMPOLFQVRK@GJ?AWgmaQ^aZORXUL::9HQQRV[[XQQSZWSW`c_NMORQSOOJGOZ_]VSVXXZXVRMBBMNMQVWZRTZZXZVKIOJGEHMNXWUUVUQPPIPX\VNOLKQRNSRSRNBMQVTMFSVQMLJLJJGDNQTXWPPRROMMRSMJLORVPHCHMWXUQNPPKLLQQORROSYZQOQPJMTSJD=CIURLBMRNGLUTRNOTVNLQQNOOLHKJRSRXa`PINSPMDDIHKKKOJMLNIDMTQKJE?BRYYRIRQPQVQKKNJFJJBJSTUWTOPSXXVONROTZWWQQMMHILUV\XVQOMLIQWPNU]\ZjrncYQSQMITa_ZV_aMCWag]ard)LTWLQUWWSRdjd^OP\]\UX[VTTRT]eaWOZZXVTYUUYTOOXZ[^]_ghbWTUSXVSTXXOPXTVVZVTWYWWUPQXVZ^_XUSNNYZ\X[Y^\[\XWVZ\Y\[[YXTW^^UUYXXUWWWVWVWVWXY\UUPXUVTRUVVYXY[VMOWTSZUUVYUSQVXWPSMOQYWWPSVRSTTV^WXUVQUVXZRSXZVWYUSXTYXVVVXaUZSYVXSOV]YZSXWYZRXYUUTVUXXXWOPSSQTVWVYWYXYZ`\XYYXZXUXVUSXZVWRW^\VUSPPXTULSVWUWVUUTSRUTRMUY^[XXNSKRRLTSYUTOPMWVJQPURSWPTKQQKRSSTLTRZUOQX\XTVPQSRSQSTI@MNOWXKENSPNNNLMECAHOVVVWVVRLLPLGLRTLJFCCLQMABJJGKNMIDDLUXPGBJNSTMBDHMPRPPRPNPWZYUNGIMJPRU[^`a_UEED?EP`ig[WRHEFJINQRUVXZZWTNHHPJMPSQQMIPOPRMIQQLOPNKQXWRGAHOQNNLIOTPPPQUTQD>?HIGMVY\[VY\YTLQOLOLTXVOTXVSY^XTYWQJLU[^]RKKKPTZYWSPRVRMF6AKUTPJHSW[YVRLOGILKKSYWVSSNLVX\WPQQFKPSXZXRVVRSQT[`eiha]UPZ`\]WW]XONLTPMWVWVVYUTVIOQHHHLRSTVUVRLLNRV[[XSVURNNNGJOSXRMIMNPUSHJPPKNTZ\XWSNMMJGNUSRSPSMKQUVRVUOEORMPVXOLORPPUUSQOLRXULKQPTYVSURPJKLKKKQSRSSNKMMTSLOSSXWUQX[SEKSUQQNKNRYXZXSWYPLSUUWTOGKOPSTQPOKTRMQW\_]TRONSTMRQQPGCDJSWVTSSUOY`a`ZW[[VPSQKNQTPONQQOJGQZWRQVWTFQ\[YTBCLE.CF7EOVYVMQa]HBT_aXSLIKSWRROGEGECLLMOOKCEPQFISXONOOPSSLPSNLFPVXQJBOKEGHS[USVUTVUMOSTMHPOQSQQQKCAILMQY]WNJ?BMMPMNMSONTTRTQNQSPKEGIHHDAJMNRTMIJFHONOOHEMSUVSORSOPRRPPTWVPOPQOLIMMNPSTSKIQVXTMGITVWTRMKLKMRWYVNOQOIIIKIHHNQKJQMKV\ZXUNKIHLOOKLKNUVXVLFJJKNSNIPTTVTNQRPRSTQIJFILNKPVZVTYXWVPPIGKPRPRWWUQPOROLOUYZQINRUUY]XQQOQWahf_TLJQUFK_bYHSVVWaecX```<2LUVUPIV`^bdcYNJS[XY^[TUTRT^`YVU\bUSUY\UVYLOWV[]`cikdXMONSWUUUTRQSRPVYUWWXZXWVKMTVY^`\YSY[^WUWXVUXUXWYXY_\WQSXWYXYQTUYWXVZTRUYRSWXXVSXZUUXXWXSRSVYUVNQXPOSVXZVSVTYVWXPPQUYXWTUWSNTUWWUSWRPNTYYYYWYZZVVW^a\UVWZV\[ZTUUTPZZRZVYXRVVXMSZXWTVWYWVSTWXUYZYROSTTTYYWXWVW]ZXUWVSQUUWUXXY[XWSYQUVVWUXURRRQQTQJRTSQTSXWWRPNMLLTLRTPKNPUUOPOTVTTRLSHKMPRPIILKORQZ^[MPVRJKMNORRNKROOQQOFHNMELRSRLJKGLRPPVVQNFGIIDHMNQVTMPTXSLGFORNMJCCGOSTPLTUWQPPKPTTMGMPONONMPQRVNIMSTVTXXZ_bYGHMFIR[ih^WRLHMRPHLPRQOTTVWPNOJDHMGINJGMORRRRRSJJQOMPPQHFGMY]\UOIPSPMPVUWVNGOWVROTVSQKKPXVQLOTWYZYQORUURXWOOU[\PHRZZYVMFHMSVY]_XSWQMNQRRHFLNOQTTXWNIMSVQKL[^XGFPMMNTUPMXYZQLOSXYSINSQNKNTW\aa\OBU\XUOEHMOURRULRXVQPMPYZVMPQMNOOSUSOKHEHMLIP[`]XURPPRPHJORYWPLLPOSSNQROPTWWZ]^[QEC?@HQNNTQPQTURPQU[YWSPPSTOORSVQMOSUVTVUZWICLNNQUWXSPLHFNNPKCJMVVUUTQQROPTSYSNLSOBDUZWVYXPIGLOOMSXQRZXVZZUNLPRTSKPQPQSHOV[a^VRJMWZWQNRWVQQKRVTW[XWWV_dd`[\YXSUTPSZYWSTPMSQX^^TKHKZZPLSTPH/BVYWTWCRZ\NEMVQD3HUSPNSIJNTZVPIHKKJROMLEBGMSOC=LOMHKOONNMMQMC>CSYZSINOCFJWZYSSPILLDNRQOGKNKPLSSQKHOPNMPTNJLNQRSSUSTTPMNPSVVOSPKCFLKLSQ@>HGLNHDIJNPSRQOOSXVMILSUMJPUVXYURSOONQMIKLINMSSPQTW[YYOMPRSTWVTMRWTSRSPLRSRSLHJHBHQPRQJECJU\UHCFKOWXPJILPRUXTPPMKTULJQPBFIHIMKNONNJJMLKMOHLQQMW\ZXTKAGMOQJIMPPMIKIGGFDKOPNDHQaghbZKGOZ`bc`\UQQVTWccc`ZON]caZUZccH\TMSPNSVURRUXSQUIIKLQOTVSOV[YYVRT\VPXXYUVVUYQT]\V^hcYQRTTOSPWPSUVUNRTTT[[Z\UXVUWVVWWY\[`ec_[WTUNKUUSTVYVYUONORXWUUXVYVPYZZXUSYTVXUWRVVXXY[[WUSXMUZXXXSPWVNOUXPTUXSXTYVLKPSRRUUWSSSPTSPWWWSZ[]ZYXSXVVSTZ`YVYWVWYTOVXTWVRVPSVYWVSYYYTWXYYVXXXUWWUZMXWVOMYZYPTWUWYVZZZPUXTXVVYXWYZXYWWTOMRXWXYYTXXRLUNROOVYVVWTTWZVOVMOLOWWTXWMQSRTSQQKNSRMMJJSVVQPRUTOQW_[MKPRNNLNMMHFMQXTSQQJENQNKRWVIKTROKJJTXVU[YWOIFKPX\ZSNQWVZXSWXSVRL=CPWXWY^`ZUQRSUVRJGPWRQYVQKMQRQJOYZXSRZdlk]HGMLMPSRNMPPTSPSSTSPLMNKHDS`^UMGIVVNLVRSUPCMYXUWVTNMMHLUVNENSXXZWOLKFIQTRONLQ[VQSYRGIIGHGMRSRWRLPURRQPPLQVUOMOSWZVLSX\XSMQWUNLOQFGPXVVVQLSRZYTPLIOSXPKGIQUX\WRV`dVOSPEBM]``\UPMORQTVSUQGLORSUVWYWTPMJMMIBJX]WYZ[]\UUUQNUQFEHOHNTTSNMOUXSSX\\TQNEENOPRTZSOVUQLKU\]XPOOQNOTY\XUNOMPSUYZWYSORTSOLSNHEF@IOMNIHOSTNJLPQWZUQPNNRSNKPCAQXUUZVSMPRPNPOJHT[[SOMQRRUWXVKKPPKC@LSV_\WUNJRXYPCGPVSVUSVTXXWPTPLNURSZ\UMNPOQPNMJMQLPORUVTNFLXTPNONMDCJQ^ZTC=SX[OJEFQD,2=MONUVZQKBLYQMPVPP[ZQTSSVUVUQPNNLMKSYSNLLRVPGKORXYSUWTQRWXSMOPLJCEQQPUQXXRHGKPQPLPPD>EHEKNOSXWQMKHJMOIGNRQSUUNKOQMMXWOMPNUVPGGJQRPQNJOUUURONQSTW\^\YOHLRME>ELNRUWRPJILLQTVWY\WLNSQRQNS[[QOMLW[QKMPSTPJOVRFKSVVWXRLPMIKKTVVZZTMMJFQZ[YXSRVWTWYNILJEDDKPMKJJPVY[[SHDR[]WQSTQVWRRWZYRJMMNOMJPMMIJNQUQKHOQVZXUPTRXWTMHCHPWTNLZejb_ca[STYabZVUSMLLU[WNKKOOONJTXZXRNIHDJLIDIQRWZZXVWXYWZ\WTRPSPQQTPTSOQTRPVXVRMGKRVQJJOUPJOQQNJIRTQOPSPPUVURUOQST[_]XTMMX\]__[WSNKPOIOLJMNEKTXPKNOMUZVPOJKRTVX\UPXYUNNOQRQRPGMV\WV\^XNAEMRVVZZQHGMOOUXY\[YUUUPMUXUMNQTSW[WWWXUMKQPJLPLIPX\XQLGDDIJJPXULOUQFUWOTZYOQY[XO?@UZ\LBJYTGOXPSWQHJEDKC>GNMNQOLPTPGAEJTWPHKRQKDCHFDMUSNHHJMNMMLMOROMSRMMOONPRNOPRSTPNHIFDJNLHKNNOW[YVNLKOQPNLKRSKGNPGTZXNUWQOGGVZYRONOONOTPPRPGFIQUTKJKU[VQUTONPMOUPNQTRPVUPKLUSOLQRPMKLRVXYUSPNNNNQSLQRMJKQMKPSQLDKJE=>T^ab]RTWTRSRQRPVVQMOSVRJIPTVWRPRMRUXWRMSRPTUPHEDFNVZ^^XTPGHHJONNPQQNKKJLKIQPPONX`ZQTX\e`V[gidb`d_VVTX[YSJNWTLPXYV\fg]YMUR[UJPUSTQWOTMRLJRWQNU^TPRTWPUSWVWXXVRVSQWSVYWairqga`^VXTSRWW[\\YX\\\ZUXW[WYUVXXXVQSWWWYbgdYRPQOWYUVX[XWNMSU[WRPVWT[a_YTWVVXVX]ZXPQUYWWTZYXZWVXXWXVUWTXWYUXUY]]XYURXYUUYRMVXQUVUZXWSTQRRZXUQTV[YQQWQRQVZXUYYZZ[ZUZZU\\YW]XWWWXYVVTQQPRVXWXXUSUVVXVWSPSXUYUVUOSUSVYZXWZNSUWYSXVZQSQNSRMPVZWWW[VPMNSXUUTTTVWWTUWVUWRTQOTTSTTTTVVSTSRKKWVMPLNXMQQKRWSNUQPOPLNTTSPRPJLKIKKQTWWWQGKYYSNHAIMPSUVSPPPNPVROTVKGONKHPVWTPNPSQOTROSXXZYYOORSZYSLJOTVNJMPRXVRSTXWMIMJNSVX^ec]TPPYYRSZ][\^]XPJOTNHGPOQOPQWWY\XQLMOJJRRPSTTSSPIEKTVSUYQQJNRW[XQNNPOLONJKMNMLNRUQKMNLNQORUVY_\QIQZVMGIONQSUXZSIFMOTLKTVWYUQJMKOLECFNJBHPUTSNJMQLOSYVPSYXQOOSUOE97FLLQTRPS[TJTWWPKKRYPLGPQMDKNMKLIFFINSTRPNTTRROJLPSQIJFHNRSOINOPQOPOORRSRSSSTPKPMNRTNEFOPRTMCHQNGDITRRSRNJGEHU[^YVUSWUQPQTVVPKGNPKKSXZSQTWOKSZ[YVSNRVVUOIBFJPUXYXRRSSSNPPRTONQSQNIIILRQTVTaff^VQKNNLVghb[UQLGORNX_YWYYZSU[N1IIMABQcSNTMLJU[VOXMVPYUTWSSTTTX^e`XOTTWW[\XYWVUUXUURTeosf__\UYYZXPV[]ZVU]ZWUVVXTTMYRVYUUOXUXTZb`XYWUVXNPSXVV\YXXVUY\URVYWY`a`YSQPUZ]_^ZUTWU\\WTXXXX\^`^__XYRQWVXVXW^^[XNQ[ZX[XRRWUVRVTVWVXVUUXVYYWTTVYXNTVYYXYVRQVWV[\WYYVVYVXVYVRYZVTTVVTVZZSLSYZVVZUVVVZTSV[ZXYWWZWWZYXVTVLVMPTRSMNZYWYXXVWVXVW]dbWWVXTRSUNXPWXWWXXVWPLLRTUQNRUVTSVWXWSRXVLNKWUNRSJJUSRMECIJOPYTRVXTQSTTVYWYSPMPE;JURQMPPRRNNRSMLLNNJFIQQFIOOLMMUUNIKPTRKKTZZ\ZX[WODJU^\SPQOLJMDKTSUSQRVXWTMLKOUUTY_bb[NOWVNLPZZUSY[VLIORLH>?FNNQX\YWVQGIRQMMNINRQMNMLKONNLOVWLONQRUUSNKJKMMOMNLLRVQPXWQLKKKPQMTXUU[ZTJOTSQKLMKKIHRXXPLPX\WMLPQSPPTTUQQPLHDECIV[YPNIPQKHMOPQPW[TILINMK@CKECHOTXSRLJPMKPSTSRN?;HJJIPNNLKDGNROYYZVTRVQSX[XVX__YQNPHMJPVTVRQSSSNNKQWZXURQPRQOOOKRY^WI>A@EP[baZTYZVXVSNLOKLKLLGGHLQUTNMRLLNKICILIKOPVVTTSKMRUQHLVUM?@QUMNRWURTZUMSROEELNMLRRNKJJKS_c^YMGLR[YSLQY[VOCDMORUWVRL@ALTQOQGAFJRPMORTPQ\ZPOQPPTTLMJEIKOQWUOMNLKNMHCGOSNHBDA=JTWVQMDBMOGDKLMHHLKRIGVZWTPHAHJLH=.*39I7@7=BLSH=<9TLQ^^RY]QMTVRRTRPS[`ba^[Y[XUYY[XZXVQOWVQPTVYXZYVSUQRRSRXY[ZXURRNMIPX\]ZSLMVRPTZ[VROQQRPRTPMRTURNHKNNFGDGNRTUVXUXTKKVUQUTWYVROSXVMOVSMFGQUSLMRSRWYTMQUSUZ\ZUOSNQS\ZRIGOSPOQLFKHNU[YMA;GLRTQKC:CNRZVTUYXLBKQSOONOQOJAHRTWZZTUZ\WNHNPOIHKK?=IUUNHR[XJEPXVXWXVTQPUQKKNRZWZVWXRWVRQRSWWORXVVTLF;ILRVY\_\]QMNQXVU\aYRLPNJPMCISWYW^_]_\XHKMPFHh1VLRSRVSVWRVUV`f`SQTPXRSO[fcUMJTSTVXTTZUUVX[SQUcpqiZWUXUYYXUU[`[VYb\TMNWUPTQKTNWVTUSWZXWXYW[]XTXTWWYXWWZY]]UQRPXSYWWU^]ZXWSRXX[Z^^[^`]XWRQU[XZY][ZZWVYQUUUWTWU]\ZUXVXV]\WXQNTWXUSRXZ[YWVZWZUWYV[\XYY\`\WVTSYYVYXYQQQQTWVLQSTWWTQTTROOWVWRLZQVWXYXVYXWYUWZUTXYWX[VSZZOSSRWXWVVWYVXYYXYWYXXVWZ[UROWTTOLOSYVVQXXXWUVUWXRKJSTTPPRNMQV[ZVMINOQPIMVVPSSTWKVLORSWXVSSRMMOUSSTXVUJEHJJQSUVRTVOMDEKUTMNNMLNWVWTPLNOKPXVIANWXURPQQRXX[XTPGFU^^[XVQGJQSXYTQUTSSTQWXRMNNLOO\cheUISWRRORSTSY]]WSQQTTUMPORNRTPNPQD?FOJILKPZWRTYRRRQPSRW]XOUYZSLG@EKIOPNFNUPMTXULLLKCAFQNOW\YUXWSRPOLQUNMJENLKQQOMJUZXQLOMMQTVSRTTUUOHDHNV]WQLNQUPKEOUUQKPPORNJQSROHFLTX[UPOOOOKCMVUPROEGNMKKHFGNIHLSVUPLHN_iib[USQPQY]ZPNMMPVST]^]\YYZWSQUXWTRSSUXUPSONQSZZTOKLOTY_`_Z[WQPRTVUY\PDGIRX]ZZdg_VSSSVRV[[]]\YTIJNU_]RRX][TQT%0DZUXkwffiUU^a]aYTWYVVUXSTRSU[WQJXVUVXUWW]aZPTTZ][[ZcfhnqlaYZ[]YUXZXXTVWadZPYXVXQRXSMXPYXPPW\YXWQVYZVTTX^a`ZXVZZac^XUXYXXU]^Z[VUYRQOXXVYUX\cbZXXW[ZXWZ]]\YVSSVWYTYUUXYZU[[\ZXXWSQRSSXXYWPSY[WYZZWYXX[ZY^_[YZ^VOUXYUYUUZXYNZUYWZQRTUZVWU\YZYRXMTSOYYWSV]]XYZYVORUMUMWWWUSNPUXUTRQRPSSWYXXZYZTWWSXVY[WNJXJSXUVQRWWTRU_`\WPQXXUKWNUTRORPSTVYTVRXUXWUJTLTOPTWLVSRQOJNMNPNLKLJLJKPVVTMGCHIJQRWWZXQCGIKPSNIINR\a^\ZVTRMHPSSRIIOPOQ[^WMUYZXWUPKXWVSURUYYUZYYRW^^VTWRQROHILMNMPY^_XKOPTU[[[\`c\RRMPPNNTSLOLKOMIIGHOWZTPKQTNPURZ\WPPNNIHPY^ZRYUTQFHQRPRNNQVWOLV[VOOMMPRRTTUTQPRSRNRSOSPLFILMRILRKDFJOQVWVVVZWWTGCNMPRLJILRUUYYTRQUNENTVTILPQQPTY[\XMOUTVYXQLPRHBEISTQSGDRUNMJKNSSPQPOOLIDGLZktrmgXTVWV[[ZSRSTPRUPVYWWUQUTOTXTQSUV\][UPKPOLMRYWTQSVWWUY]YRM@EIUWZ_b`XNKKSZ[RKV\ZWPIGKMQXYVVYURPLIFGHLKKJIT[[VWSPPPMMJLQWWVTFBJMJTYXSPNSUVRGIOQOPLQUSNLOPSWYVWPIMUX[YXVTQOLLPKIJLMNUXVQEAKQNLUZVPPQTXSMKKKQXSILQSPKKGDNRROQSQQUNJJJNVQPMLMLQRRMFBIME>JQU\VTOJLKDB;JTTVU\ICVSFIJ\hh`XNXanm`\baPMGIOZ_YRVWQRXUYUS[\WTZYTY]UCFMTQFFSRNRZSUOMOVXWPRVWSXZ[]]WUSPKQRRWVTNJELHIOTXTKIJOSVZYSNMMOORXZRJMUXQKILOPZ[VMJNLFFIMUWXOHOUTWURNJHINU^\WTSOKI@CMNJLMLPWTMKNSVVRTTNFHSVQMIGKUUMMSQNGKNVYUOOQPLLNROLFFJMLOMJKUXWXRNTYZXWZa`YPQQNNLOSPNMNNNQRPPRUUTURPW`db_YYSRFBIRYZURZ\SOIOQJIQV^\\Ydgb]\ZZY^[Z^]ba_ZTUVZbaYV[VJCJUWJZV@CGFMPVRKMMHOTXTNFGLOWY[WVUPNNNOVXSQTQQWVLJNWXQIORMFEQXTQQNTXZOEISNFDCIRSRQRTPFHFGDDJNTSSNCNTW[aaULTXWXZ_`WLMOGFIMNNORXYWVXSPKNRWZXMLYa`b]\XLLPRRVUUTXYYVOJPQLKQTX[WTQX]]ZXYUWVV\[]a_XSQXY][``UB>GMTVh^TOae]_```YYOWUVP^]USYYXZfdd`TRSP]a_a^b^ZLPPWYPUX\bgd]_bcbbh]WNPUXVUVXYXTXVVWVWZYVXSYZYUYYXUUUXWPNSXZWVXXW]\YSSU[WYZ\UYYZYWXUZabYSKRVXVWZUXTUX]ZVY]\UXUWVUNQWUXVZTUXYWVYXWUNNWZZYKPYWTYWYYZTTVRRQVbfTTZ[WVWUUWUQPZPWUTLQRUVZZ[UTWYVXWYX[[SNXYZ]d^XY`]XTXZURURRQRUXUXUNNWTZWLLWORTUXZUVVWQZQUX[VRTUZ^WTUTWOOVVWVLORXWX\\RUTWXJMPSUSSTYTNTMLMRSVTQTULNQUUKRSQONUVQIGITTUPMJLNTRSQQNOQRMBDLPOIMNMQTNCAILNUWONUZ\VQX^]\WLPUUMPPNUVTRRSVPSSW[WTPOMSUONMIHKJBDMUURRTRLOOHIPPRY\ZSJMPJLRQUXVYfjg[KLUYWLGJUZWUUTXYWSQORWUVUOPHHLLFIGADHMUVXZLTVWVSE;FMNVVPNRURSWXVROLFHNNNQRNMLLKNQTXYSRSSOMJNMLOTTRFNTPSYYRPIHNOTZ[UNNNGLRXWOQZYTWZYWWVSQNNPRRVTTPKNQSPTYXRPVYUOPSRKLPPLRYVTUUOIGIHFJMOKIJR\isxyod\__^_VPMONOHJKMPNMORPRPOSUTPPURQLQROR[emqfPPQNPWSSQINY\]^\ZUPRQRSSRV[\SJLW[YPRQJPTPIILJPRQHACLUTRPJOPHHPTSKKOUUVROQUPH?GPXXPKJHMOLMLGGNSNKMVTNEMRRPSZWRMRZZ\]ZLJISTPLJFIGGMTSOOPQSTOHMPTYVSPROKFDLXXUOMONQRSTRSPOMONJMNNFEGNV[\QKJKOUVOCHRSOMMHISNEEIDCNINKCOa^VWWaappSBXNWX\]TRUV[RF@2HWYWY^[VOMMU]]\ZXU\VIJW\^[YTMLTZ^bcZHQVQQTTMKYXUVUWUOFIJX\ZYXWWSPLNRY[WQY`^ZOIMUZVXVNGLKGKROPQNQQRNMWZWOJLPRLKOCDJPSVZUM?EPOLGGQMJEDLOOMNLORNPRU[`]YXNMSVSQSWRKJIFEQQTXUQSPNTSSLMPIAFCCJPSPOSRHDFBFOQSYYWPJNQHJY^YSRTRTV`^SIIKEBISURTTUWQFKNLLMTZ[ZWPVZ[YZWRPVWUSRMICJJQZUONPVZ[YW_ZMGPV]_ZTRVYYY\RZa^XOLTX\]R@@LP_b``UTX\^\W^dif`d[TYZ[\X`UVadedb]PSZaddZ___TMOUWJWVUPWYW[]c_`acaVWRRWW[[VXWTVXXYVVY[[UVRY[_YVUYYXWXQVZ\VPUYXUXWUPUWUYYW\XUW\]WWRV_`[NNSNNVWYXW[Z\]UVYXUWYZWYWXVXUUPKUVVWXZ]\\[UUUU[YRW[]WUVYRPYZ][Z\^caXPX\XSRMYUXXWXTQNQQVXNTMVYXVWUYTUXWWYWOWWWPYZXNKRVSYMOY``WSXXXVXWYPQVVPNLWSUVYMPUUVYXTZMTY[YUTVXUXQJNJMQQRPNYXXOQY[ZTSW^VQOTULXTWXTPWIPOTTUSRKQULSTVMJMNVTKRNIQPNUURLIJRUUPLHKPVUPKMJHDCEJHJOKINSQJIJSPT[]]WV[ZUUPV]ZRKKKMOOKRSSY[`^[ZVOPQQVUQRLNKE>ELQUWYXVPKNSYZSIMSQQPWWMHPUVTTWborj^SNNLHHKIOVVYZWPMKLHPSPMEJEFAJPNPSRRSROWVWRIOYYLEE@ISVTLLLTRSVVTWUPKPRRSOJNSTTTTRQTUOOTULJNMNUTOSUTVY^ZXNIQWXTTXURTWVMJPSKAGV[YZZSPTPLMHDELNSRPODFMLMSY[YURQLKMSQKIMQSUSNJSTQIDKQOJMQLEJMNXmuz|vjbaef`^XUQOPKHNOILW][ZZX_`XMOUWOIRUQURex„mXUU\\SIINUZTXWZ\VW[YTMSPNXZVPOU]]ZVRSPSLHFGGGPTPLOPPUUNGNKLMRSTRORSLSRQUUTH=DMQRKKLNNMLORMKLMNNTTOIINY]ZXY[TMLOKMQMMKQOPLMMOKGJQRVTKMOQQJLPPMPVONRTRJGOSQMOMJQUTPNLMLJEGNQNHDEEFHLUSRJDGIKOLIHOQNJB58QUGHMB@JOHJMV_`UZZL\eiJ4E0I]MELKORPWYK6N]\Xba\PRVTWZV^^[\YLTbfa\\aYTY\\ac\POTUWY\SLPNSVZ\\VHCLYb_ZWQMSSVPQSZZTNX[QLJORWTRNMLPOLORLOSIGHMLLV[ZZYPQQOKMJKLQNQUWTNHPUUNLLMPPB;CKQQPVYXTVW]a^VMIMUVVVPUQOSRMJLLKSSQOJJMLHLHKC?HJI@@GNLSRNJQSPOOKPWWWWRQG@IUV\\VOMY^`XJNPOCFU][QNOMJHKPSQORNQVWWSYUUZVNRVXTSPNBBMRRPOSROS_]]hi`TNMS\]VNPUZXXVMNX\_`ZSOTXURQTPW]emgdaWKMQQJ4ASspqidb_egXUVU]Z]__ZSXXV[ZUWVQRUTOT[^VYWTSXZ^YX[YX^\WQMRTTVUTW[WTTWVXXTTWQTWTXMWWVUXYUY_`^ZVWXXYRNSTWUWWYXXW[]]Z[XUV[XLWXXQUWUWZUW[YSVWVTSUWWXWSQVUZUWT][^cdbXYVVSQUYXTW]aXXYVPQWWUUWW\\YXSOUUUXYVVXZ[[[SYLSWVSWZZLNXWXUNNXVWUQTZVWXVNNLKSQXLPVY_YZYZYWVTUWXXWWVSLLYLRVUQTSQURYPTWXTQMSURUQNSTTVXXTPRRXUQVYWTUVWURUUWRPUXSMKWPVSSSSJIWIJWVPSLOPPLKQQNMTXVSMIOQPLKKRYYQQWWRSTMA?HOQPQPNKSWXVPKRUOMOUTRW[SPPQYYTRTUSRMKRVSW_`a_ZTLKJOUZWSJIIFHDGMSWUTQHFMSVYXQPRYZYWSIEPTQNLKP_jlhc[OFKMMLPSPOTQMMLMMOTUUOABAABQSSRORWSNQUY[KLRUQPPMRRRMJHFHLLPNTXXVUUSMMJQTTNOW\\NHMSU\]YTUSSVTS\[ZWZZYWWSY]ZSWXPPTYNFMW]WICOSWYXURXVRZ[UTXXTVRNJJJOQYXZWURRMKRVORXYVPNTNKOKQMIMQRNLSKILPPST]jttjdccc_fg`XRQMGFPLKJQUSUTX\ZK:ANOIBDKILOUPLLDHKGDNQRTTUTOMRUUUVRLJIOSOHFKQRPLPRPKJHMVYUNQOMOXWTXVSPLMLLKCAFMOPRMNNMPPNQRQIGOOKGNUWTMJMLQWSPMRROMILOLMPUSMGFKNLORPINUSTUUOLNUN@?ORJNMKLNRL@BRWLINPHLOMDEPZYTRSC7^I2@FO]^UU\YQKSZXRNWcb^[ZTVVWNUWTNMJPPKOZ^^\cc_XZ\^_[UQOPTXXUWZYZWVUWXVOPUY]a]VQSWYWUVUWWUQSUSLJLQSQQUVWTRPTSNOKMRIKQSVZWZZWTVUUUMKOOQRPNILVXXOJMUTQRPIGRZ[XYZWSMPV\[WPMK?BPTMNNLKQPNSQOWXWRHMOOMJEKPOJLNNMOQNJPLMVYTQM@@JSUXXXVNJJY^bZSTXX]ZOILPOLTWZQJJMQSRRVWWYRJMQWZ[SRUVQSXWUQLGKGGHQRQTMHNQX\gka\^US\]WSRRXZZZVXNGQ^^]SHMYYTVJDHZeiefZDFQRQKMh_h`bdkpjidUTXWVYPVWQXQKJXaa[VXNXSXSUYW[XWVW^[USVVXZYULYQWVVPTTSXSYWXX[XWWUVVQNOTQWLSUXV[__\[]^^UU]YVX[YUVWWUVY^ZVWWZYYWZX[[WUXXXWWVUUVWUVXXUXQYTURVWRYZZ]`^WTKNURKVWVLRXZUNOPORVYURXTY^YWWVXY]_WYZW]]^ZSOVUXXW[XXXUVXZQQSYVYZYYTW\ZXXMYQWWSPZXVZYRLTWQPTYXWVUUZXRVUOORWVUPPSVLOWZXQNSXYXWURTXRQXXUTVVYNOUXVTTQWUSPWTRTXUSPWMRUOPSVULIWPONUSQVLOVPTWRPWWWUJHMQUUNJMQQLDKSQNMHJKAEKKNOICFMQTNHGMNI@MQOWXXTRTRNNPORQQOKKIJPTSNV\ZOMPPQXZVOJIJMKLJIMORTSTYUMNWVRVYXPMTQFEIKJIMFFNZa]YVUSONPYUPLRMLRVWRSXURNMFJLNQLHNOMRNGLOUYYYLHKUWSSTSRPKQSNHKPQNPNSVXSPLLPWQMPQQURIILW[YOKPSV[\ZVQMFDNQNKPTZVQQVVQQRHHR\__TNMQPOPNSZZ[_a[TZVQPSQSSPNJLPSWRPOOPUUKU[]YURQKJLPQPIOOKKPQQQORTVPNKW\Xaijhfc`e]WZWRKNMKEEIOONUQPMLEFNSMMTURSf~„~bOM\b^YY\]SPLIQYXSQROJQSMILT\\YRSUTUUTNKMOROKGKFGQNKHGMWWRQTTRSW]`ZXWVTSOTWWPXWTMHKNMNRPMHPUTRY\XSQQKJONMMRXXTX[WVNKLRY[ZUQSWYXTOPNJMNMDFMQWWQJHGLQQPRWWVYVPPTSUROTRKOOIKMGKSTUUXXTLRZXRLRTNLPNQOZ[QLIQPLRSZ[[QCBEIB9>OUXS`N5IMR]ZJagid`\b\WMYYYXPFHPUPPNTRIBGONMMTZ[]\[\ZPOMRPMMKKLSRSQRUWXSQRSQQTUKSVUNLRUTPORKGKORQMIDELPQLMRWWSKKSQLGDNWRIJJSKGGNLILTVSOMKLNTQLEFNUROPW_[PKOPRUXXXRKIKJDIQUUQVSD?JNJMLKMSURRUW\ZVNFDCIONMIV[QHHQPHBAELKGOQKHIGHQUUUUWRPNKOYYWX[XWXXQLIOPONUVN?BKRSTRVX\\XRGIVYXWQQMINRONQN>IRNJNPSYZVPNT[dcced\X\]\WLJRZZUVVVPOU[Z\XUUTMRWVLYZXaheRN1Ice^Ra`R\\XY\SS\be\TY_[MIMVNVR\bZWRVS[UP[ab\WMU^c`UYTX]]XXUSUVXXMXWVSLJNQWUTUSSUXTUWWRQNLQXY]`ZXXY\[\bd\SSVWUVUYTUVVUVPX[\WVVX\a\UW[[]ZYY[XWXYZYWWXVWWSNKOYYXWYXXVKTVVRTRQTVYYUTXXOOXVYRQX]_[RVWWVXZXWZYXZVWYOWVUVQWVVVZUWYRTWVVVWXOTZ]_[VWSSUSSNUSLVZTNPRORZWPSVZYXYVWXPQRTXTXWZXWRYVUNOWVVYUWVRSUXXXVUWUSQQVTUUOXMQTSTTWXUVVJKRTPNPOSUQNSUUSVUQNJRMLTVSLPPIGKPQNTWSTRMMOIHJIKNRZZRNRIHLLDAGMPOKLQQJBBAFNSSQSUQLMKMSSSVTMIKNORMU]ZUSUSJRXSSLILOPJB@IJPOMSXVTUZWRX\XOLX\\VRVXTMID@JRTSVVYSQTXWWUPJPVWVPNUXPLNSTRPUOCDHLSQJPVYQOOILS[]TQLGFCLRRPKCIFFBEKRYZUPQVYVTUUQSSHELWWWTPRTSSRQLBCRVTQPKDJVXVRSPPTVQNUYXWWQKJMQNWWXUX\\XUSPHJLNOPWXUQUUVUSPSSTVTUYXQTOSSNHIMHEIOOLJJKMKIORQKFGGISdhfea^[TTXZVNRPLIKSWXUSVZYUOHMPQU[`]\YfmfYILMTXYXUVLJFGHJNMOSPONMI==HVXXRNMQRZ[ZYTMLWYTOMSWSFEFKUSGEQURLQ[\ZTTURJHT\[SSXUPJQTUOROPRY]ZUTURNNOQOIKNOPSQMSRPONLLQWVVWYSRUTSSRLEGGGCMSUXUONPQPME?IQRU[ZTPLRUQQUOEKHFMICLQPQTNPLMTWRJ@GPPMT\WXWYPLIHSWRKSUWWLCKOQ7AYZYUQK==@F[VV`ige``_a_YOXVZZQJLPSUPJOL@ERTMPUXZXWSOSSPUYZRLGDLPUWVWUYZVPUTPNUSQJLFJPTUMJOLOUTSVQLHMMLMHGLRSQGGRUTLGIJSQNGJLJCBJNPNMPMJMIMRURMQQPNMIHUYWKFNPJMPUYQG@HGB?LTWSXYRFGQTRRRXZWRQRWZ]WSKIGHHQSNLSTKHMKD>EKJICBDADJMMSXXRTTWSNNNPRQUYYWUNNMQNPS]`]VLHKLLPXVSTTWSPNWYURUSNDAHHIUSCETTTRIALVXREIQY[[__YZ__^`YMDOU]\X[ZXZ\[Z]VYWR\`YRQVSW_`R^UOhneVV_ZWTPVRKKKI[YSSig[QJT[ah]XW^`SVYa^Y]UWWMYWVZ^VVXY]_[^XWPVV[XWUURKNTXWXXUY^]^]UPRWWTSXYWVWVZ]\`chf\RPSUZWOXXVSNOWYZZXVTYX]\YWWYZ\YLY]ZSPSVUU\\VVWTTPX\WKVTXZXMVXXVUXU[WWYXUZXTTUWVVQUV[XUSVTOTYPQUYWYXVXVZWOYNWXSZRLSX]XUWYUSWVUZWY[ZTSPTVWQOZMW]^VRUUPOUWVXQSSZYWWVXVYVVTQUZXZWYZZSTVZYYYUTQSVXVSRWYNTXJXPXVNVWMMPXZXUVXTLKOQUSSMKOONOVSTUSJQMVVTSOSTSPJCJSNKOLKIJJNMIJNLPMHWYY_ZMEIJLPUWWWUSSVWPPOAKVVSQMMONNSTSUUREJPSTWX[`^UUSUVXVTPKEKGGMTUVVQHGLNMOTVTQV]ZYXV\`]QPZ][QOPMJLLPLLVYVTYZWQEJUWXUQORRPPTZXWSPKOKMSNQX^[RIQPRVTONJJOHKLNMNOFDDFOOTYVOMMPUWVWVRVYRMSOLJSSQLHGNPMDJY]WNJLDDQPQSRXWONMNMMLQOHJMNKQXXQOMOSWXZXOJFNMKU^`_YQKTWVTTRNMSY[YTSOIGKPSSTQTVXVRTPGAKPOMFNNJMX][YY\]]_`]TJMLMMHGNWTPU[WSRSRUSSQZ[XU]afjg]TPQ[`c_[QKIC@IRXWRRPQOPRPNPWVOKMIPVZXVQJMVTQSYWWRDHHCDD?EIPRWPKHHHLPPKOU[[[SOPPPW[WPGDGHKS\ZYQMOPQOMJOTUXWM@DPPSUSPLHGP[\ZQUSSRSNHCGDEJP[_VOOOLHABA@EAETXVWXXZTV[UPPKNVUQWWPTUY\\XUSOMNSVTNMQWYWQLTRNJONHVXOGHHIMYXGMKQUOPPbZRCHUURPYXQMQYTKJCGDDCFQWREGIKKRQLJIJMOLHFLNNRUVVPRQLILOIILSY[WWRKHGQX[WSRVTRHKQMP]\XTPHDHLNLGDIPSNGJSWUSOIGLPSKHCGFFHQPPIMLJKKKOPLLRMKPPMJJLOPJEEBD@JSOFAA>3;FMVWSRTUQQTRQRWXSTVUNOUYYRNGIIORSQRRRRQKHIMNIMOM>@HRYUZVSPTTSQSTMHONJGLOMMOLPLMO\_]WNHNLFKZZYXVSSRRTROQRSNLNQMMV]XTWYUSLGMT]WPQV^gghaYVbb^^_XMHQ[ZTVWWZSN]cYNXYTTGMTRMQUQPQWIKIRNYY^LUVIIWZXZ_]NSUSPNSaorrlZVZ[NSVY]ZZSWUYXRVZ\UXXVSVX\bWXMX\^`b``TQUUXXTX\\Z[]ZTVTWXWYa_YMRX[Z_a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`cinoiead_NQSMMQQJPXYSQOQUSPNQRQY\\]hnmeYSX_ceaWQLFGPRPQQLNKIQQSPVVSTUNINWUSVSQRRRNTUTPJMLI@ADSSPMNLQNSUPKCDMQVWYYTNNQS[_^UQMLFHMQUUTQUQMPOLLLRVUSRTUWXWUUPIDHRSRVZ[RQPJMRTUOQTZ[YRPMOJHKF@IRUTUVVUYXXUSMJLNU[XQUTTVWV\_ZVOMSXUPMPQSV_]VVWWSMRUTWYVSRJAGRaRNJQ^^SEfeUMU__V\a`ZLFQREBDAKQQISYWK@IELJHJHHELPIFCLQQNJFKLOSRNFEKNKLVYYYSHAFHSYRMIKHMHEKNQ\]VRNGFPTSPRRPGFIPQMKOQN@@EMRVSOICEIHJJIMJIORTPGDLPRNFEIEAKQUOH@GLOPQMDC@=CJHIPVOOUZVQMUUVVUSONTOMOYXWUQRSOPPTRSPSPKDGKG?=ECFGIISXWVPOQRMLQNBAIIAHIFAGPRPTUVUZWRKFNOHLRWSSRVUJGOSTTJKQVYXYV\]YTTPNNHLQW^Y\^\ZdnoiZRZ`ZW[_VOQPQPONSVRP\e_RSUMMSTWSTUVS\fcRI>K=F[_PZRPVY]ahd\W[ch`O\gmjgb\VTUVUXTV]WMQ[\[ZUUVUWTXWXZc[MMZYXY]Y\XRRXUYUY[VVSXV\XVVUYZ^[YSUWNTU[[VOUVVVVMLMRVWPMLPNTRVYZ]]_ZVXYXTSUWUMLVYYX[[TNPX_[U\aVLXUWTTWUXYY]_]TLPPXYMOXUXZ\YRQPYZZZXYWZUXYWYXZXZVUTVXSY\ZZWZMNRYWXYZRWLUVXRXYYZXUYWVURUVZYYZQUX\WZTXWWYZZWQVYZVPONSWYUQUWWYRSOUXYSYRPWRWMLUWLWVPUUSLYOOYQSWU[ZVOKXQRMMUWTVTWWTQUWWVWVVPVKWTVTRNUVXV[YOIJHILPJTXXSMKJNRTKPVUSRTPNTTOORPKMQQSNOX\YNHHFNX[XLLQTZ[VPNSXTNMPQPRPMFIQVOMHBGQQMPVVXZYURMQVQF=GPOLRTTSVUSOPTUSPPPUYUKFOQRSXXSSUMPMJJORRUSNPNEMNLIIKTTMRYWMOOSSSYPSURU\ZXTNRWYYTNPPSTNJIKIFFLINVYUTSROSSRPTXWQUVOILNOORUTMKOPUZVUVXRMKMRQONRRIAIKPVQPRWURNOOKNRVVYTUWYWRKFIKILTQNIIMRRTWULOYYQIHDEIOGLUUTWSORQHKRUQPIFMRTOYeonopsqdRLWTMLMOTZWSQLLMHBJV]]WO]ioi]RSV^a]TSTLLKJLTX[WPLUOJKSRLOTOV\]]^^[UPQNOPPPNMQUOUSPXYRPGAHSY[VQPNUUXXURMMPPSTYZSPRHIMVTMKOWXSPRURKHJMNPSTYXSMKJDDOPQSVZ_^XQRLKQYYXQNMNUSNLLIJMLKJNV]]\WU]_YRRPF@JU[VMHEJXVOLSPNNJKPUSPSVUY[ZV]c^SORRQVTRPLJLUTQTKG>IQLFEXOLELXWPP]ZT<3A;BDAAGMSXYQMIGOLGKKKLJOPLNKEKPTRGCMMELRRQNFHJMQPHFHJCJPVVVNHNUSNLLNMKQXXTUTSPUWWXTTZZVNSSNEJKOMLIJGMLKOPNKNNKEJUZ[YPLQRPOTRKJMKAGSX[WTTTPL?>LRQQSYVTQUVSKMPUWRKMPUVV[[[\YNIKKNQLMRQRZc`PU_hh_[VYSRVWRMIILPJOV]]WWa\PNNFINPNPHJQTO^g^SZXFRcca[SRRRPRcb^\T_if[SRTYWTUZ[\XWTZ[dfcXJLWVXVNRVXXYUW]b\SNUXWXUXZVSSNRWTUWUXVTZ[[XTXVYXWVSTKWMSZ`[VVWYXZYWYTWTXOVVUYZYUXV\__\YXXXYYYWORYYZZYXVTYV\ZZ\ZWVXUYWWYYWWXUZ\WVRMYUVWQUTUYRXYVXXUY[XWYWXVTWZXSYUWXYWYYXVXVRSRSRRVaaXTRVZUUVXWWY_\YX_ZUPWV[]ZWLXYZRQSUXZYZYQRYVVNLRTUVTRMOUSLQMZURLTWUVSMYKXNUOTKSVTQPTVNPWTWTSXTOQURQRSSRTWXUXVTVUXWVSMKTSUUPNPUTPJSQGHMQROQUVURKJGGJLRPNNKDGPSVSQLJQLHIIIFKQXYYOLNPOSYWQDJJRXVSOPUSPVYXWJGEJNSPHGMNQRLNUXZZYPMOTUQNIGEHFMMPV\]\SJKPSLKNPTTPNLKJDGOX[[WTNNLHRYUQJ@IHJJPNFFLVWQPYY\\WUWTPUNMKLQNOJRWUNNTVT[WRORRVSNMPLHMIMPLPRQSXWYYSSTOSKJJKPVWSLHGTWSSQMDDBGTUSQMPHJNOUTQPUYYRLGKPNHIMHMVZWSSTKCIKKORQUQSSOSUULLOTSOPSVOOQSWTRSTPSSHDNUXTPLLNQORZ_eciuupbSJMGJGBLUZUMEDHE=BP\]XONcfe\VMU[b^a^]SMNIIKSWWNKQQHKQROLHM[`_^cdZMABHKOQTSTTSU__XRUXROQPRSQKNNLPUTV\VRJFFLNVUPOQRLJLROMPXXVOQTTRORJP[WUWTRTWUNQVURW]Z[ZUUSSSPUXUSSPRVSLNLKMGJVVQLUYZSJU[TQNJGHJPVVSRGKVXWXRQONPR[^^\TMIRPOWacZQSVOLST^]ROJMFKYZNB9L[^PCLD;8G>CLMF:HRA6EL:DHHVXSILSUWTRPHHV^VPLGEIMIMVWUQQUWWVSOQUTVTVUKNZ]SHAFIINTTOLKOLCEOPKAIONJJHHQSTSMKLONSRMNOMLHFQOJGNUVRRJHKMTWSJKLLPQRRQLMLIOOLOQKDBIRWVMFPTPHHJMPQVWSVZWMOXZWRPQVVMEKUSMJGLNPPLIIMOSPIORMKFJPOTVUSU[]ZRXUQQJ>EMTUSNMOSOB>HHHMTVWV_c`YNMMUULJSPRRR[[^`]RHLMTWYUWSRZa]QKV`dgdWTWXUVQJKJKOMWWU]XSZ]QOMGEMMMWW\\`VO[XHXJPad[^_^^SUWgnhSQZ^_ZRQN^ccVMXY`USR\\`c_ZUXXUMYVZYXXWWXXXWZWVYZXYY^_SOQURXUUVVWWUTXTVXZWMRXVUVRYWUZWYXUSU\[TWXWWXVUYVXUV][XQXVZ[VVVVVSVVUYVZYZ\VWVXYWVXWUVUUVZYWWYUVYZXRXSYVSQSWSVWZYWTQSUUUYXY\\[WXXXTNSUTV[ZVQPVMPKYYVYUNWXXTWZ\VTXWXPW^]VT]]ZTPYZUZWVYWYSLUTWVSVSLVVZVUUVZUPPNRPRQYVMVYQMVWUXRVMLMOVNUNOSUUUY[WTTUZWUQQOPOJVRUTTRWV[[ZXURVTSTSSPSRQUSVTRWUQNLUTTUTW]ZNNSPMLIJTWSRPIIHJRUMJKRNIOPKKLMOSQRNLJJHKMGCJISZYVOKIFJWXYRLJHGOTN>BHINQNLRUY^XLDLTVOMLLJJMSPKLPVXWOFAKJHOSSVQNQQOJEJOXWXTRHGLR\[WLEFIMNHBHNHGJONKTY\WRTRQKGJNRMGHDGLJJJW[UUVNPRPRSSUSQJFLMUVWVQLKOYZWUPLMMJJLPUSOQLINLCJL>?PQNRVVKHFGOVTPLMOWZZWTTNRQBHB>IUVTPPSVRPMMMTNQPQRPNLPQPQNUUTWZTIKQUURQLIRVOIMTWOLOPR\XWXXZTVajhf_YUXMORRPPRSRTPNLCDRZ_]\YZa^ZVKHU_b\YXMJOLBDPOQHMOHITUTPPKIRZ^Z[[\VOJRRSZZUTWVW[]URPVVRRPJLHFICEQTOPRQQRPKLKNPNUXVNINONPTXZ[XYZYONONU\]YXUQSW[XXYWQT\\WPALRTX]][RJRSTRNLOOROMKSZSNSVZVJTZSRURUZXYVSYXRQXSKMMJMTSUPTXUH=JRTPSZ[WPT[[]\UV^OFJMDBU]ZM=LbfbVLPPY\NNMDQ`d]PZWQYWW]XQEHHGBEMRLNMQQPNLEDRXSHIFEMQNMSUPNQPLIMOQRVXUYVQKLW[SKHIHIGIGHQNNMEHTYRGJQQPQPPTPQSOJHMNQNJONLIMTXSA>PRPPOMPSTUWVPMNNQSPLICMOKLLMOTRD;DPPROMOSMC@DFGLSWX[\VJHSYWTQTTMGGKLSULHAGLRUTPTURQTVQOONNKOUXUTUTURORVQLEDKKHKHHQV^UI@DEFOVRFMU\]WRFLNOOW]XQKHORUURLBHONPQPTVVX_ZOEELYfi`SNX^_][[ZSPUWTNNQPUUSVYWOIP\dgb]XK=MMTN8=PWYVLHJE`hjqujSRVYUOOSZ_YSSU_db__b^bb[UVc[XTWXZUV]_[ZTJNSWXYYUZ`da\TTSXTYWTSTQQVWVY_`ZSVUVVUYYZUWVVVLQUWV\WXVUXUQMNPPYZ]VVXUTWQVXZZWY]]TWWTW\[[]__XVUUWXZZWXUTRYWUWZXURY\_VTUVQWY[]ZULOXYUTQW[]XZWUSXOYXZ[[XUUPPSWSTW[]VTVTUZ[[ZPQWWYWUUUW[\WZRWXWXUWXVTUXUSQONUVSXZXUZWXXVSTPOVXWRPSPQRSWXSXTKNSPUVQRTSNLPTY\[XNQXXVX]XPMJUWNRUSNOUYXVURWXWRURSSTTOTTQVTURUFJKJQU[]]WVQIGMJMRWYWOMRSNORRNPONHMNPPNQRVVQUPJHLJIGGMSUY[WUNLNKPVVXZXWU[ZUICGCFMTX[ZWTRHEHRTQJHGIFNREDNPONLMDFJILQVVOOWZZOIHJPVXRRRSOQWY\]WLHLNMFEKOIENXVLNWQQRRPQRVUONKHAGNKGFQRORJIFIJOLNMPXVSMNPRPPKPROKMVUQQPMINPPNMONPTVSOK>>FGL[ZUSWZRIFBCHPTUKHKOTORUTPMIOMGLPRQQLJQUVTNIQTMDIJLPUZWVTV\_]ROMLIKLQSOJEGMUWXUOPNOQX[XVVTVXTMPSZ`adb]ZRMRMMUZTOKJPY]^^[W[_]ZXTJNUX[``UFFIJNYXRKKOOLMUSQSRNMVWRILTPHOVYXSQOTVXYVWSJJJGINHLJDINOPSQLIKKOPONNNTXX[_[OJQPMMOJLQZ[ZYPGFHRWSSXYUQIMV\[Z[USR[ZPLTSVV\\SJMTTVUNOOMKMMMOPSY\\ZY^\XVZZ^\]]VTUWONSPHEMJPRXVTORRKLPTRQS[__YPRZ[VQJLCOOGCNKQXO@Lahb`ZGRRVVYaZQZRLNQM5NPNVXPJED>@EBFRSQNJQSPGJOQSRQMJFKPSWRPQVQFCIMONMJHKQPNMPVWUQKHLOTRSSSRTPNSUUPMNQQUURMQUSNHGGPSRPQONJKNTPCHUPDFMMQTURQQTVUURSMJJMSVRUTQLNSUMNQONRSURM?@KRNKMSTYYUPRSVRQQSRGBMPSVUSKHHLNUTPWSNPXUONMLIGJVXVOEJONOSTWVPV[UPMJMS\caTNOKHLSQKOXWOJLILNKKV[WMJJGJPUVNKGIJDDFNUYY\\ZQFIQ_f_ZTMONSV^`^^YVW\\YX[\\ZTPQRR[eeaVNRPOOHB=DOFSP45PLJvsgk]SPSTRMTRVUV``bdb\fhehlgYTU[bUVQXYOU\YXV\UQUZ_[TO\ffa[UUSOOTXZXPXQW]VTV_[XWZYTWWSWVVYRPLTXRRUXXZ_^XPPRNVQVXUUUOOMYVXVSSU\^[VYKKXWVZWXXYXTROQY\ZUVUYWUXVXPTZ_^UYUTLTWXa_VUYVYXNLTTWYXZWYVUYZW^]XQTVZXWVWU\_YUXUVVZWWWXWWVXWNRYXWUWXXUYUXXXQOXXWPQXUQQXYVPNTWXVRNUWRRWXWVZUUURVYVYTRQNKSXVZ\YVSRWZYVXXRVXTT[WSTUTNMSWUSOOVW[UQRSVTTUVUQMRSVVRVUWLIOLJGLLW[\XXRXYVRUTXRQUVUQPQKOMLD@=AFGKUXXPNMOPLNLDIMTTNMV^WSVWXZXWUSY^^[YTNMKHOTV]c_YH;9DKUXTNNNHFQWLDOUPIEGNCAJMSOLQXTTQOOKHNVVNKMKDMUVV\\ROQRQPPPKJGSYOJQRNOQLQTRTPPKHHIJJPTWWTNCEKG@JPSQTX\[TNVUTMKMHJLNQQTRSUPNLMVXQLQSY]`XQH>BEJPTSQRWPJMMMKLS[XUVSQNNRQQQJOKJIRVRPQOMPSRMGKNLKUZXZXUNOQTVYWTPSVVOLJKJJKFJQZ\WYYWFIORSTSUX[SHACIU\befc_ZYVTTTNGEEERX\cb[\^^[UOICDMYabYM=>HNTSOHACMNJLRQX]YSVVPOZ^YPRUX[SNOVYXUVZVG=@FOUQMJFCKNORQMBCHKORMKJQTTX][RLOQLHE?CW\]XPKGEHOURMQPOLHDJVWVWXQNRXSTVUW[\XRLUUUSSPQPHLOSQOEGSOPRSQRPTZ_`[UTSOSRPTUPKDIJHGIJQPNLNMNMOMPTVWVPNJSJPRVWXXU@M[W\YQFKLRQSF'NRYWUV^WQOGJRL;GH@LKPRD4@CNQKOOPPSW\SOLLKPWPLJHCKNLIJTXYTMHGIORQMIJJPQRPSWLHHT\YYVSUSNPTTRMKMORPQXVNMWUOMNNUXYPOTZ[RKIMPQY[RMEJKNPOPNRXWSRSOJKTXWYZZTQQLPRVSLKOQSOHHILSRSVURPSSQSTRNNSWWI=KUQVVURRWUTTOMTRNRRMMPJGIHFQXZVIDMKQTQW\VU[YPJMOQT^_^YVPMPTWXTZXOLROPSTQRUOPQQOPZ^XNJGFLOE;HMTXZ]^YPMNVYYRQTSQAIQRWZYRMTVWU[^[RE?MPPUY]WNOWTPPLBBI_d]SE:<;RXpjdPUYUWRNNRXYWV^^dVXXT]eccWWQSTTPTXQYUYYY\b`[VT^[VQVWXYTWVNULSVWSXPTZWUTMVXZX[ZYWRVWOXWXXUXXYVX[]ZWWVLUQVWX\ZZXXTLMUUUUVUXVUSSRLMSRUXWXVXXVVOPXVXVWWVQQSTUSVW[VUXYWVWST^_WUVVTVUMTUVXYYZYXXWTTVYYQSYZXVWZURTVUUYXZVXVULTWZYXXQOXZWTZZWXXXXVXZTSXUNUVZPRRUVSMOUYYUVSUXUVPMSYWUVXUXV]YWPOPWSTVXWWWQTYTV^bXWWTWWVUTXTSOMNMQPTTRTUWVXXTTRSTNRUTWSVVTRLVRRKJPRTYWUSUXYXYYVRQOY\QLJILOPKMNRNIMRSTQOJFJQRSJHKHFCCEY[VNQQPQTPQSXZVSYUVSNIKPQV[_\QHKMLOQWVYYWZ[[XTVRNLFHPJDCJIJHNVUIC@INOKMTNDCEFDLRWZYUUTSRQRMMKJNVOIPSMQPJPSX[SQOORQQQRWSSPILUPEQYWIFKQUVRRYZYSSQLGKFIJOOLILKJQWTLLKMW\[QIGLRSPSUMIKGAESY\UNKTY[WTSU[YRRUVSKHMSOMRVRMOQMGHNSTW[XSVPKBHLQQLIJIRVTNKHHRTKIRVUUWYPE@JPW[WY__YQLEHKY]\]b^_aa\XVQMBHMNKO\b^VMTYZPMMEAHTY\[NHF>IKMVWQICGGGELT\[VWZXW]\YRRQQTWSJCLRQTXWPGNRV[YTVTKDHJIOMJHIMVZWKGFFBFQXUOGJORPIBCNUUKEECDLUMIKSMLNNMOQPQPLHLMNOPOOSXXRSTTNPMRZYURSUWSMNRMMROHHOSUTURUVXQNRSSRMNMFINVWSSPF@BAEINROROPKECIRNQVRIGNPOPRLPRVZOD@DUTHG_[LCO\OMOSVU^[SSVPRXQQPPSSSPNSUPNNSXWPSSPQSMJKOOUUOLNPTRPMFGMSRRNNPTPUYXOPWWRKMVUOKNPSVSSW\UNOTVSWY]``YMLPSTTVOLIOXZTHCLSYWTQNQPQTVUTRRSVSRVRRRPKPTTNJJOSKGNMIJPX_\YQLKLKJKJQRVUNJRXSW[UVYYXWQH@ELNOKFLSSOPIINW[[RHFIMSNHPYZVOMEGKMPSTVUVVTUWWTNTVRWZLEF@?MOMOPOOS]aYOIFFMRQINVQRX_c_YPLRWW`_efc[RPMPQSVVWWX\\XMGLTYSUY]ZXWQRSSZUVXW]fb^QKS^QOLVPLUUPSQb`ZY\XX\\Wb]XUVVR]]TSXZUS\gh\NTX`]UOXRLMQRQPRWWSQQWVOOSSWXWWYZ[]\UXYSQQVYTOPPW]ac]TYZYSVaa`\YTOOSVWVUTXWZXXUPPNMRXYWWQOPTWZWWYXVUXWUTPNLOVUQRWUUUVZZYMUYUVVWVWX[YUXUUYYVWVUVWWTWWQQXYZYYVYXLLQSVWVZYYUPSVYXUNQRWZXVWWQYXUQWMNPTWROQVWVUSSYWSQTVZYZZXVVYUNNNSYYVXWYZWXQSW[\UUPTTYWTMKQY^^ZWXUVVUVXUPNNLLQTRSQVTTXWURMJNUSMWUMVRUNUUXQVXW[\ZVVXVY^_^]QKRTRTVMCFIOUVSPTXSONQURMMRQNLMPPKOMLILTSXURNQPPNKLPX]UX_\UVMGDELMPWWUQRTLENNOQZ`\XRW\[YUUTLJ==LOSUTNONOQKMRXSKQUNIIIGBOROMRYYPMSTTSRHLRQKLJILMJOQXZRLQPUQMGFIIJOORSQGMYWLE>EUZVSV\VKFPMMPSOPVUNDMLFS\YUNJJNOORSRNWUPOOLOPPPHLTSUQORWXSQSZ]ZOLLJLKKNROOSVVLOUQFHLTXYVURQSMEDOPTQTRHIVXTPGFOSNKOQMLVXULFKT[_^VZZVVWUPSX]XTTY`YYW[Z[WRTURQT]a]WOFJSQ\]UIFRQUQMPOFFJR^_ZNFAA:ALRQOSX`b_\]ZTQNJMTVKMNKJHORSMILMTUUWXRIIKMSPQRMIMWUKB=@@@BJSLFFMRTOEEKNPJELJDLQQKOPSMQYWVVSLF?>KPLHLKKKLPQRUOMOHKWYSPRTWSMSTQSPIFDIGFFJIFLRURYWTICHLKFLRRPID;;AD?DLKIHORPJJNMJMRMA8:DELKODIIIDJG6;?BLRYYTHJKRSQHLUZRGMSPHINOR]`XQWZTMJDIRPNQOEHJJQSSTPNINJE>AFIGLKJGEGCIRRAE53KSX^cc]TGNI31OTY[UQTUSCEQQO[_ZHP]WQQOZ^ceb]XW\_^XUSUVSUX\\YYUTVQUVWWTLJKORQORVUSS[]]YRWX][VQNRSLGGOQGSY[[VSR\aZSV]ZWTQRSPNQROVXUVTQPLNOG;ISSXYVWWZZQQVVPINMFDIXUQKLRWVRRQNPQMFEMSVLEEILLKOPKIPTZOH>BGLPTPNLKR]^UIKKOUUTUSQMMOPOLIJLKLKKJJJMSWTRLPWV\`cbb^SJNUUSOEGMVVOPTZdlkf\URLKRONQX[WVY^ZVQUPNSXTNUVOKHFLRTXXTQKV\][]YUSZ\ZWSUNT`_\SL@RSY^abZTVTRLH>[KKV^\WM_jja\Ybb\VZ]_`[[RQWTXXUOX\[Y[^XWVX`^XVSSMUVZUXVQLROXSX^\YYVYYXTNKUSTYVVSUVVTY\``ZUZ]RRWWVWZXZWYPSTQXXYUWWUUWXVW\]WUW]^WVVUXX][ZZ\^YUVXX\XUY[ZVNPY]WY[UYUVTYWV\]]YWYUX\[]_\TUUVUQRX\TTXZZVUYLRYWVUNYNNMMOXWVTVQNUSVTQRTTXQKPORQPVY\]]VWYT\\WUNMSVLRYYQKMUXYWPYWYXXYWXWVXWUKVIJWWWPXUKPSWZXVVQUWWSWURSPOJRRVJKRQOLPQONNMORPNORRKSINNNNOMNNRQQWTNMOSUXYXSPKLPPCLRXYVUWK2>LTYWQNRQRSNORSNHHINUWQNSXWQOWRJOZYVMKT]XMISWPGGHRUQLNKPUSWZ[UKENQWWWUYYUGENKNXYVUQLDFLKRTSTPQQLJMMRNNT[ZQNNOU[[^VMKSWSGB@AZ`\TNMMEMUGKUVSLIKMOMNVZWRQOHEEMNLHIMNLKLBJQSPNMSPPUOMONHRUSRRLLQVYTIDBAPQLGNRQQTVUYXQRZZMOUWXWSRUSOLHRSPOSVZZZ[\_ZWX[XXVUNQUYX[\YXPEMUUX_cigb[OQROVYYX\aef\POMSSV[WWRJEONPQWYZSD6KWUQMOSQOQVVQLNRTSPOY][WI=AAMLJEJDDRWY\LGP\7ISY^L@29E^[[]Y[daZEBHHQPLOQSNIJLIB@FMMPSKLTURQNJJHELPQSVTJJCDLTOSJJLUXPMQSNODFKHDGGEHPOQUWUSQOJGNVYVWTTXW_acc]TQQOOIALZ\\SOKQTWPKRUVOMPQQNLFIMMQIC@HKRRLQNLOLKMSXTNIEDLMROHHQRPMQSJMPPRWRMMUVVUTPRT\UTXVPNKNLIJNOOMX^ZQTUWUMGOOJPTTOIJGLSNIMMLIJJNWXSNWWUNOSNACKN[cc^USMLKPQRT[\WQKQVWWOGKMOKT]^^^[SLKJOU\[XX_a^XYWPV_`[YQCLTTUUCNWUG>LTVK9\_T[OF5MISRRY^]VPPTWRTZgf`_YVVOMTWTMTLO\a[]_`XXWSY]`cVTVWWXUVX\[UXWXTPQSTVYWTVVVWXVTSUWVVTVYSUUXOOSVXXQWPVTONLOSVWWZTURYWVXa\UTX[WUVYYWWVYRNSTVTYSXXUZZUX]][WV\WWQROVXVOY\VSRUX[[]ZYYVTWZZYRQUYZZWZ]UTYTPQQTQTUUURNPQUUZVUUWUTXUYQKNSWXVX_`]YRPOKQWVQSWXZXUUXVYXXTSQUX]ehdYWVSVMTQTQORQTUVXUTOOSPQTSYTRSTOUVWTPPVVTQRUSSSVLOSURUSVRRUMKQTWWRQMVQQVTTOWZWSSOTSNEGRQKRRWVQORWULOTWY\[UROSQNQYZYVOOPRPSSSUTOPONPPROQUWWWUNMLLILTVTUXVQPRSFFKNSTPSVSTJLPQJINQUXXVUTOFGMNMSRMOOLB?JHDRVTNJLHLOMHMTXTUTTMMTWVIR\_TNMKIKWNLQQLMLMQRRRSQRQRRQMJNNHDBGR\^WKFKMRQSMPSPCFPTWPONNOGCJQWWOMOPQUVRSRSUQTTMIKMJNWa_TLTTQTX[WUSQTVYWPHLNLNPMNRSQQNQVRJFIHIRSQOPSMMNY]WRLIIJJKQPPNNRKKORRMIHKLQPQNSVXSQV^]H>CMSV^ghgf]SU[\ZQRZ\ZWQMIKHPVZWWWNISW\]^WUVRRMRQNLLPVWWTRPNQYTSUUSJLPOGIELLKNMOQY[]YQSLHNSVYXQLJPTPFAGIIGNMQNIOSPQTX\YPPQLLMOUXY[[ZYWTUXZY[\XULNUUPNNLMMHLUUXXSOLLNVWVUZ\\YONPKMQQPVYUOQ]aXVWVPPPMLSRPTSLDFFOVUONNRTQKNSQPXXSJJKLQKAIUQLNIJRTQWSIKWVIPcbQ=CKSV^XSMHNSHFOX\XI:DW]ZVNIGDKSRKLQLJSXYWTPOLO\_^RSONOG@GJPPNKOUYULMNOQTRRNLHLIHJNQLKS[[UIBLPMNTXTPRY]YWXUWVOKHIPUXZYQMRWNECRTUSVQLNKJHJBFGJILFFKQTTOOSLNQVRLB>@BEBMPRSVYUIFHKTVQIMNOONILJICCIRUSKC@EKNVWQIHTTGGNTZXOLGLNNGJQPNTVVJCJKNXXSNLJMRQOJKLNKOOOJRTOQXY[\ZTNJIIQZWIGJIRTN=DE>INMNPPUUUOMIIKRTLEJLTJBKOPSWWZXSPMMMMPPORRSSOQTWZXSVXQLNSXPLQTTMMLPQRSVWXVSSTYY[XUPSSPIIJPUZYXXVSSZYSJECCJPPRVXQV\TMZcdbYUaa][]XWZ]\VU^ZSOUVXTPUVUPW^^]VYe^E/;92SipUUikbVVYVXXPVXX\YZUQSN[a`WSKKX__b__UPYWPOVYXQWSSNW\]XROTOTW]`[VPVXRNMPRSWX[UVWPYNTWUVW^[XXYVXVYSSVRRVVSSVSVXWYZXKKW]ZTTWUQNOSUXXWW[WWY^ZVY[[UU\VVRX[VVQNUUVQNNPXYZYUVXWTZa_\a_XUUYVWVWZYXTSYMPRUUUXRWVWVYXXQVTXUWXYXVYYURMNQUTWUUYUNPPPQSYVVMLWVTSOLOVW[\WX]_Y_kohUVWZ[WWYUSSTMRRUSQTSXXTTYUQNKPRKULRUVVQTTWXWOSSUT[ZXSWVSTSRMUUQWSTWVSOVWUHLU[WPLTSNOKLSVUSLIHMLQWVWRNQNKRVUNFEMT[WOOVVUQNMOMCCKQNRTRQOQSPQNGELSSNJRVSKCHTUOQUXSRTUMLRMKRPOKPOQTWSORSLMLPPPTSJCGLIJIIIIHFMVWSOJFC>EGSZZ\[XRSUTPSUWTSNNNIHOQOU\[WRUSMEILKMPNJNFHQVXRTVPIIMMOOIJQOJDBMRQRXVLMUYYUTQOOQWWOIQV[]UMJHMONWWQRNJLTTUTTRWVVX[QLPRXZYWNHDLSYZRKIPPOMF8>HJMPTYXPFFJLLKPPNHMGFMTTPNRW^YUYYXPLBETURQNLKGIMX_RQW\ZTNRafb_eh`YWTNTWWTPNJGORXXTQRQRX\XVTW[XSTKPPONOVSOTXVSUOQX\]WNJRKGOYWIELTVNLQRPPMJFB@JPRRNOSOSWXWWPKJNSUZVORVQGMSMGQXXVSQRTQMGEOTXZWSPOTQQSZVROPNIMWWUPIJILNUX\YQHGMQMORSUSQRNLONGKSVVTYXRRYVNNMLS[T>@LSWZY]\WSMIJQVYTKHGDCDKUYVXZ[YYV[[OJJ@EKSW\WQN\mc.C\ZPH9=@ILJRRUTWZTWUURLRUSKFJKGMRSJISWYXTSTURLKHGHFIGCBJQYVWWOADPWSQPIKKGJFCIG?DJLNPQMIHNRQOOICJU[RJFKOWUTOMOTTPQOQUUTPFLONQQNKGFOSTTWY\TLMNKJOLJPW[Y\a_XORX\ZXPMKBMVOBDE@JQNKCDKQPI@A@>KSRPSPJENRQOSWYVSKDNRPMPPUUVXXUSTPTUQTXUSIBIEFOVYYYTRQMRXYUUZ\ZSTX[XX]]WOHFKUXUOWTOUYYPLOPMU\]OMVSZ^WNQRYaZSWYSOUY[WUURQY\UTYRU]TRQKLRVSX[_^TGHHATa_no[\_SNQVSVZUUZVVVW^^\Y\aZRMSSYZbfgcbYYVUUXUXWXUQKSXXWUOOPTZ\XTWSUVYSPVOWY\\WSQQWVTVUWVWSUVUTUWTQTUUWYWSVY\UQOVWVSQRWYWUWYWVXXXXYXY]_\Z^^YVTXRYYWUWUY[XXWVWVQOOOVVXVXXUWRX_XXbaWURVXUVUX[^_XVYRVYYUPVWURRVVXWNKLMQWUXWTWVSWWTQXVWLLLQOSWTSTWRTXUYXWRSSRUWWV[be^Y`e]VVTXYXUSUWVMJQOQSVZ[ZZXTVRORQROUSXIMTRNWJLQRSURMQZ\TQPTSTTWUNKQQVVRLNLTNGEGKMPKFGHNLIJQV^ZRJNSOSUQRTONNFLKRIHGKOTRNPRVVUYXZXTMWZYRQTTSQRTWWQIEKQSTXWNC;FOUVVZXVSPTNPUSLJLNJIQW^_\ZVZWOLUVQNRQHBKOOGFAGQGDRXUSJJCEMQOMKHNLOPQLKQ\[UKKPPHGOSTS[TOPOOJFDGLONMKLKNOORQVUQMLNXWSOHONOSLDRTROF=EPVWXRSTQNKSQNISJQNPOONQMEIOOOPSZ[[_VTY[X[ZOJNMTV[\VQPONRTNOOLSRQLGKLMOJKLQNGJOSNNLRSPPIKQTVSNQV]^YTZZTKHKVX]^WOQICMUYSUMTSWRKSW]V[kvtj_ZVUZ_`UQNIIQSOJJNPOWYWUSQQKJOSOQOML[^RSTQPTORXZWROLNOOPMHINLDFMPRMIGLIGDDLSWXURNMRTSUUUMOOTVXURSSPDHTTNLSVWZ[UQTUPLKPVWTQJ?AJLSUQMKONKKOPNHIKJJIFKUVPKMUXRNPTSTSPKNUOLOQSLJQTRVYVLFEGPTQHLVVWTTVVSJJLNPQVRJKLDJNMSWURQMJLQRSOWRHMKOQPK@XeeIFOKH8MMKI@GSY[QYZZQVTNQV[SPNYQIQXVLLU\_WZWQM?BMMRWWQTZXSWXXX]][ZY_ZPLJLMJD@IMNKPSQJEHNRRVPOTUIIJPTUQMNSSVVUQKJIMPPSUPNLOSROQTRLFFMSTWWY]YLIHJLUSQOQSPS[^TOPYYSOSSSQOQIHNOLJJOLFCJQROINMFMYZYWRMJMPLJQXTTSTLKTRPRKRVQPSTRRSUSPRRNKF@COSTSSRTOJJGITYOS\_[WVZYQYa`WRPMPOSUOTTLPWVRRUVSK]`]\__^YVY[SUY\Z\ZWPW]XTPY\QOWX]\US`\TGJSRJAR]_^ZMO]TUVZZaf_XWRRMTVVQMSTPLTYZdf_XYPLVba^bhgh`\ZVXYXVY[WTVUSTSWVYSXY\]UQSTTTWUSTRKOYZXROSXYYUWOSRUYVUUXZYVVVUYSTQRUWWSPWYXXQVVUWTSORVTUXUUXY\_YWYYXVZWVTQVQTWTYY[[YVWVYWXVVZ[YRTWYWXWTU]XXWUW]]XUX^cfd`VVVRWTYVXPPVURQWXOVXWYWUXVQTUUXWTXUXVQTTRPMPXVVPPTTXWVVUWWVWSU]\UXUXWZ\TWUOXXTWTTVVQNVV\\VXWVVRLYNVUVVSKTRTTPQNPTNSTOJSWTOLILOOMLNMUUVUMLWXMKLLFINSWOHCKJIHMW]XFJQXSRPPSTSSVXVTWWSQNLOOQQSXXVYZ\[RNQUVRR[ZVWQTWVUQKINYWXTTMHBHIQW[[ZWQNGDNQNMRQMGNX[ZXUTSSNIOSTSRSLKQRLPOQVXSLMRWXRGDBOQQNMOOSUSPMIKRVQORUWQMMMQXLAYQGDGEA<:DJKGMLJLNGFOTX[XWXX[WUSNQUYSHJPWYRQTRIKJIKQPOPZYVOGAFPTTNMNNHIOTVY[ZVUWYUWX[[TFLPQMOQSQOQNAFTXWMEJQOQSLJKPQWXPMGIMQUTUSQPKKT]_WPKOLRVVUZ\TE4FQS[b[SQOFACKPPNMOILPUUSUbsyvmhe_^d_XRNNH@DKSOLLWX\XSTPKFHDNUXYQKPUOJKFDJILROIJQKEQUUOKLOPPIPUTRPOPMJMWXX\XQQOLMPNMQQOMNLPSUTPOLDIKRQRNOMSZVH@ACHLQNLROG=7>EMSMHKOSMIHKEECEIHEFEHHIPSNPOLMHLNKLJLPRRPRSTNOOJNTQIHIJRVMLJMVSLHRUUSKNWPCJPTURKJNRPLHOOIHDILQTWI9GRRNNUI6G^_SK?HOX^TLBBVY][]YPR`^ZW[^``[WULNS[`][[\UVYVRMIHCNWTOOWZVY[XYZ[]ZZ[VOPXWVUSJHOPQUZVWQPT[]]\VXTPPXVSWXNILPRVVQOIMRQNNSRKMRTTSZ^[VOKIMRUTSZULFFHNSRQKKQNJV_`VVPOJINJLPSPLMSSSSQIIIMTSRROMJMSWYXXXTTNECOUUVPLTTTPOMOHLWUQNPRQQQPOPMKEKNONPNID@JHFC@CKRQMVWSTY^[UV^`WSTQIDJOPRVSSUYUNQSPDKZ^\_bcZR[db_XM\_^\YX[`YS]_YTUSX_^[\YPQMTRQIMY][XURLPSJFYacNUQUJPSWX^XUVX]UTU^h\Y]\NLScbZW\]]XXXUUYTUUYVW[WMWVYYWVYYTRMRTUTNSUXYWOTUTPMNMPUZ]`\WWSVUVXUYXZYZWXUWQRWXYWXWXUYVZZTPOLWXZWWOTU]`]TVWWZY\\VUUTYUYWYYWZVXYVW\cbZXYWVWXVXYWVWU][WSUYYY]a\adje^XUSTXURTVMUYRVNPMOQVYYUUTSSVXSVWYXPMSVSMKMXQWYUQNKORW]UYXVWSPMWUOQOUXWXUVOKSTY[XMRWXTWQSJPMXTVUWRWOUTVNTSPSWRMJILKRSKJWSPVVVSKITJNWSVWUNJOKVLQQMNNUXOIGNUXRQPUSIJLKIDFKOPNPUXWUVXUSROSUSOMVYSLPSPNQSQQQUXVTRUWUMKOTYYVTSNLONPQSSUYZWTKFJJLLNTTTRQPUWSTUSUUOIJQVTXQINSNPNMOUTQNOMT]VMKNSVUSVTPQNLOUWTSSNNKMMMDINZ\WMYRKHGHCKPQPIMMCKNJLPSQUVUX[Z[XW[]b^TRQNQVRNMJJHAFONHGWWQPRTPQR\_\RMRQKNHDNTTOKMLUWMJSSTSKKLQTY[\YUNOQSVRPDILPSUVMJSVZ[YVSRNNMRSRWYWZGZ[JQQLGOMFMPKCNPMRRNSZ\TVJHMQPOMLHGKOMPSPUUQVYSMPONRNNPVVNQSRQNNRTVRIGPUSNQPJ=BLLKQTVQSMGPVTOQVU\]ZTXUOJF@EJLGJPUWVPKLPIDHPUUYZYNGIJRXVPLNKGHKPQSTTTOPVRPVWWSTVRLGCELPUPPROPZYLCIMMLKMSTHEMROOZ\YURKNOKKPQMEGJMNQOHLVVMIEJKMPMPRRPNPQPKLMMEGMRTRKLORQNJQNOS\a`_chdXSPMLKKGKLQOQXZUJKQJN[`YW\\VYacca^\Y\]a\OSXVOQNFGLKIY^YVVYWNP]b_eedbc^[WVLAGV^ZVIZc_TTSaZUKLTRPWSWWWSWUTQWVXVKQW\[_^VMOSWW]WTUZXMQTVUUVYYPUWXXXSUTVWXWSUVUJLOTWY[^[TOS\\WUUXUWUXXTYVXTPU\]VYTWUVV\XVQVXVVUWVXWWZWNVYWXRVWW\[VYZZYTQYVTTXUXafd]Z\\XWXUWXUVTWWXYXYWUUY[VTYWcbaXXUYPSUYMWVXPTUQPTXXZUQQXYVUPVZ[TVSTMYMNUYTVSSPOUZZ]\ZVRKPROPQYKRVURVYXLKQRUWTNMXXVJJMNLLQNWYTQQRSPIUUIMTSMWIVINSVMIQRMQVVVMRRVOKVPTQJHKOVNTUMOPPRMEF:(MJQZaTDKQUTLFT]b^J:?EOMNMJKLIBFGNPSVQT^\USSOMOSOTUPPSOJECEOTQHBJGGIKMHHHLIDKPQPNOIDDDKLJPSSPOSLLKHHJLIKKLIOTSRSSMFFMQTTSMMHBDPRUURIE?GPRTTYUTOKOTVTSQWU[VQLIHGLQNMMHGPPEMXWPIKNRWTQPKLKTXVPHJMOOTVVPSTPPQSTOLRTQLOOGCJKIJJNVXWOCDLOLLOTYZUSSSXVRUXQQT`dabfbYNINMFEKKLLHJRXWROORTYWTSY\UUY^fkmjgbgfYTQXTONQTY\YIV``_^`XJHW^fgd`Z_a_TYH9CPRTPF^`]UTLZ[TWVSOSSXTWXTVLRUWUUVSST^b_a`[VOOWZXWXY\ZURVY\XXVTYXXWXXWXTORWUUUWQRWUWWW\[TTJQWVXUWXV[`^YSUXUXUQYZWTVTXXY^`[YSWVXX[URUY[XVYXYRQWY^`^[XXVYRTWTVWYXX\bZXZXYVVYUVQRWYVXV[a_\VUYSXXYSV]``VUVSSWYVTSQOMTTTTSLUUWXSTUSSQSUSKSLORYPOWWWVSOLPSV[Z\\VMSQORYWPRYZVQTNMOQPLVUVMSTRNVVTUVRSXYYTXUWOMMPWWWPIVJVMPTRLPVSSIOTPOHUIPQTRJLHKPROVIJNHKIKMQNJHKNPPOPWYPNMNQVTSOILNTWTRNTZXVUOSV\WOJJMHMQLQYWRT[`cZTNGHIQRKIRPOKIKTSPQOW]WOOTWPG?CJMMLJGINURST[`XNOQQLMRPNMJIQVXWSWWPHOTPNMFMTUX\_]VHGPSRNQUXSLHGFHNRMNRTNRSPMNOOJKHLRNKKMLKOONLKLOLOZZVSOSURSVWUMQQMOQPNKMIHP[XTVTOPRXZUOKIPTZYLJQTNJJLPWVPMNRVY\\VNLFRX^\OKI@CQHMQRUXXVTQYYUPLBFOVY__YQLOOJLTVWW[[VRSOQQMDGQWYXXYRJUZ]]`ZUSRQSPOKOOKSUQO[gnnc^TV]\[[YO?JMNNRNT]^WSPJGKSUWXXQKIKOTVWVQIMRVUQKINTSMKNILRSNLPVYVRPKEFKSQOPQPPPMPROSUPIJIBCEKMPQVYRKKNQTSLHJPKGMNMQUYVVTVPKLQTVXZYVWOHEJQROLFJNNKEJSW]^XV^``_^ZYSXYXPMNRVRRWUUUTUTOTXUQQONNSUOOUXWXVRVUQPOS^dc[TPQXVWONISWWQTZUIBGYXN?+T[YXN/+>GDU[VKMPW\VILX^^REFOVVRWPGNMLLEGLKOUTYWRUUN?CGHJMMPNJNJGLRSSQORPMRUPLPSPLBBNPNQWYWLBDLOVVSQUWQQSLEJOTVSQKGQVVTSLIMMMLTUWTQFEFKT^\RLHJSYUTVQRSMINUXY_[WSTMNOQRPPPONKHJNOSY[WUSPRTQSTQVSUXWSOJGIPTXUSXXOQPNOSUSQNMU\WFGNPNDFQTRLHIPRTULOQSTSQPQUTXXVSORZVNTRPMGKOKHOKPPLHRVXURPUXRRU^`_YW\_^bhkhhmg^OWZ_YUY\a^SGO_ddZXWQV[V^`PJOYYXV\Q?8>MSX^\\_TOSWWQYWRMJWTTWRNTTTTZ^\]aaTWVWPVXXMUU\VOUYWUWVUZX[UWZZYYWUVXWUXLQORWSMPSWRTX][WWRUUYPTXUWYW]XXTVYXURUZXQPVZYXZ^][YWZWXTSVZUSXXUUNRXTSWXYWWWUQYVUQUYYPNVXXRUSPQV[^XWUYZYWXZ`_UWXWNU[XXWX[XXUUXRYYWXYWWXUUPLYNLPYVVTUXPWNXUTSXUXUTTTWWSOQTQMWYYYVUVXXWSWUUVYUOWYXMLXTSSSSPLXJRTRTVRQMKTQWKWXSTSNUUWPSSPJJQTTSUTSRIJQUROHORNLLPUUORONOPSPRLKJDGORPNOTSSUTSMHGEKQSUWVRMUVUNKOSSRNMKPPNKPVUNFMNUTOPUVZ\]UQJGLRVURXXVPLLTX[ZRSVQKOXZWOF@DLMKNOEEQTQSZb[POPTSQSF:GIMNQRTQUUOLVWNEHKPOPV\_\UIGMNNOONOMDHKOQOMPQUTRQQMTNIOQQQNSYWRRNKJMOPHLQUZWXUSOOPVXVWXSOSTMP[]XNOOJPVUUXZSNQUUQKLQQQVSOHMRSQNMPUVOORORVXVTQNKKSRRJGOIOXWUWSPLMPQUVVORQIHHLSVYVTWUQGEKRODMTVSSPWSLNTVURQSYWIJORWY[TSLKLNNRXSOMNQU_ff\TLN[]afh^KLLEIOQMUTJMNOPOWX[YZXVTQOTXXUTTQNPROIJPSNJNUUPRQRQNQUYXXVQONQRRSVQQUVTVSRVQMMNLHKIRTQPQRQPGJOUWQNRQMOWVPOVUF==FJILQMVZZ\WTQIMSSOOSVRNHAFJLRYYZ\`a^ZYVSRVSQEDSWVQQMLROTUJ>GOSPKLQY\ZYZSLLMJMRRCBMTSZ]WNMMQPONQTWW[aa[XTKFLC85?GTXYSPSWURUVY[YVXYVORTKOW\XQPUMUVXSJNTZ]\]__XQOUYV_e_TVSKMZZVPIGPRSTNMSVUMPRONNUYTOKPRSQSRRTYQHFIPQPRROIEHQWXVRLBAMWW[YPPTVXWRLEFKQVRKJGNPLJMOQUQMMUWTNKJGLWZROTODCHPROMSSPUX\ULJGIVZZVNNKMSRPJKQVZZ[W[WVWTMU\\VPQZ[SJNPRTUW[YSPJOQRQQTPMTVUNKKPTZWNJONQWb`WRQQOPUTTRS^b\S]^UFCGEGPbcIEMY[C;LWVRRTTOG@OTRO[ZQNPPIFLONIMMMIPJDJPRNHFLMOQRNJIPX\UJHLKOMNSRMHHGMKGKPIHNNKQOOPSNMNNKOKIFEIRTQQPQIJMSRTUXXTLILJKJJPOKOVSLOMFFGJEHELLSTVZ^^RIMOMNQTVZUOQVVQQTSPQPQPLPPLSVRNOPUVSEJX[SVUUPHMMPNRVTSVZ^]ROSPNNVRPSRQQNLKKLPWZ[VRSUPKOTTRQSORUSROJILTVV\a]TFFKNE?LKNSRSTUUTUPFDQRJJMY]\XY`a^Zbmtoc]VPSPLNU[^b^XY^ZZclcYRRRVOPPUXRNQ[]`fcW?DMY`U6_j{rRMUS[WSW`b\XWVWWZ_]`\Y[]\\WW[XYZWTVSMX[Zafhb__[ZTORZ^__XUUTWSVRQVWSVTVWRPSVUXUXXV]`WSPU`[YWXTONSSVXZUURUVWXXYXYV``ZVWYQTSQUVXXWUYTOPTUVXYZUTUTWYXWVVUSTUV[aaWYZ\YWV\^\V[``ZUYUUW\_]_\\]]XWQWUYXUTUW[YYWWTUWYZZYNY\_YUVWWWQORYUOLRYYTSSQTYVVVYSQSXUZZYSUXU`dZWYUXUYVUKTPUVPSRTWUSURRUWVTWTUSROOSSSUXXRONPUUVLSTWUOJQNUNRKSWTQVWWVSPLLSUPTQOTUVSQNLICGQUTMNPPPSSSOKOUUVSMTSIGEJOVURQSSTX[ZYYVLP[_]WSTUVMKQUWUZ`]VLDMSSMLPRONUYWTSF?BMQQPOKHT^`[VXUTX[TVZYOHW_c^WQSXWQFEMPVXUKBCONOTPTUTPLIOGBHKCEKJPNJEJOSRMQVTLDMMKMJRZVQKMTTROQQONMJNRQTRRXb_SA@GKIJCPXZ[YVRQNQUVOC36A@MU_[PDLLOFDL]a\RINSQPKE@JWUPRVPJIQVWRK??DNPJHT[\TONJMTSSTRLMQOHQVXWXSTSSNHMNPQRSTTTTSPNPZ\XSSZ\VQOLMYYXYUORPRUUXYZ\ZQPQQUUVRSWYUNNQYVUTTSQOKSZ^\URTUSZ^ZWRLHKXbf_YMLIKQaZLXe]RZ`a`_[JFIKKSRB:6GSYURG9HSZ]USSTPQPMVTSRZaaVEDILOMKGKMGCGMKCCCFIKJKKJLOURNKPRQPNNQLHA@HPOQOQSNFBHOVTONNJGMSSLGPWWSG@BCFKJOKGOMGOTWUQPLQPPYRGMQSPNNMKKDHORQMJCDGKKHNPRRGEHLOOMQRTRHJLHIIOOPOSVX]^VNNQTRORVX[ZWNQJCMQOOLGGOU[ZTLKQKBMUSPLOWZSCFKU\aUPLNPPXaa\SPPQVSLOJQVRLRSV^ZRGEJMR^bXIJQX`gc^XT[knjgi^QKS[cbUW_\XWZ[VTXSNW[[^YSJ?FQY[WPNRVY`\JJES`^HKS^Y^XZXOUTORRQa^XKN\ZWRZ[[Z[[cd`WTVWPTLU[UU\YXTVXXUXWYXUW\\VUPQUVJXRWWRQQTUWXXUSWTUURUTUY[[[WTMOUYWTVZVXV\^Z_c_WWXRKSUWXXWVXXXXURKMSWXX\^\_XTWUYTPUXXXTOSXXZWUPNLOTXUYYYQV]XVXZZVROVXUXWYXPKPPPSRQWZ]\ZYUYY[YUX\ZYV[WWSQNMNMQWTXSPSNSVQUQUWXYXYVYPWW[VNPYVZ^^XXQRXSOLNSUWSRTUSUQUTXVSQQUWUVSQLNRMJXNQNSVNOMRWWWTVVOMQURQOSVVVTTWUTRTPURIRJSUPRSMILQQPTVWVQQQVVQQSSW[ZZWPHOOLMPJGLMNSSOKRXUGGKIHW[TONHFDGNUUGJQWSMLSRUXWWYUPHNRPUYWOJGEG@IVSNN[^[YTRSSSOLKKGBIQQPRXWTNNTUPKJPVWUNKOPPKEJOMHFFG9:AHPZ[LJRTPORYVWRNNJPORTVTQPQPLMTXSPTVQLKRTTPWYVQSY]UKGLHISUPGHIPUTQTUTXTLMOV[^VKQPNPPJNRUPOOPPMFBGNQTSPQNOLKIHHJIBEGMW[[SKNKJMQXTMSTLLKVWQPVVQSMJDB@HOPNPWXWMKTXTNQVYXTSXXQPPWRPWRJMOGBWY^ZRHDKSUUPGHSVTSY[\WVUXXPCJZ_[YXRJLRPRMGFMTRLEDKLMVXSPQPSPJJJORIDIOLIPHDBGHFGJTVUPHPRNLHEEIQMIVUQKKRTRSRIIQTPIIUYYURUKMMPQTTOOTTKLTYZSRQOLOMQSUSLJRVSMJOSWTRKLRWZULGBIOROONT\[YZRT]]_a\UPNKLQRKLQVTOUZYUWOOMFIVdh_OLLQTZ][QGEJPP\\WOLIBJMXQRLSSR]^Y\\VLE=;GVXSNRTTXZWRIHXZSHW\XNJLMS][TTYZVMOPKOOMLKOLECHJCB>@KPLJOMFHKJOOPPMLIJMNJKIEBCDHMMMJIGGKNORRPMHQXTTSRJE=8BJHDHQPKQNCJTQMMLMHLTYWOMKOOOOPPOFCJKNPOLMQVQJNNTSMKJIDJHOTSQKOOSNJMVQNOOPVWVRRVXRLBEW]_ZUTYZWVQVVNE@DKQQOMSWTRVSOOMLQWQLQT\_[SXZWSU_c]UQKJKNQPC?EIMSSMT[YWUPLO^ebSLV_ghbVZZ`jkhgbYMNTUca\]a_YSTUVWWRS]^][X\VJCPWXZSSIV]`_YM3:GING@8>EUNMSY[SURO^hg^Z`_UZ\c]WXZbe[XZTRXRQ^[WYZ]XWYY]^YUVVTW\a]WWWWVSOTSVWUWXZXVVSWVY\XWW]baXUX[UPPWVUUZ[WXSV^^[\WYVTPPTVYUXXYW[_]WRPQQVXVXTYZWWVXZ[YVYVZTWPTUUWVYQPRWXXYUYSOXYWYXXTTPVXYVWTOQUTX\WWSSWYXVVYTWXUWVYVTYVYZ[TNPQPSMMVWZXYZMWUXYVRVZUVVVTWVRUVWWTYUSYRZXVWXQRQLSTUXTVXXTRSRNMSQTONLUKPUSROSSNOPRVVRPUWXUQRRRLMTVSVTYYVWRSNMLHNSVURRGBLPJKSSUVQPPQQTPRQPVY[VTNKTSNJORJMOKIQOGELMFBQTQVZYVVSQQKOSUOMMLONNTVXTPYVMLQSXTHNTSNCQRKOWWQPUY\`[YTNGIKMNPPMSTTYVOIKKNQTRQTXUPJINRQTUXPKJJG?=AJJOTVLEOQRPKORQNFNVRIQUSUTUTRINSTQDCNMJFFIJOUVTQV[]ZOMPNEBLHHKMQPNJOPKKRTRTWZWRSXVNPSPIINQOMMLMLNOPKLNNMOUVVQPNMRNMONNRPHCGKNNOOPJNVOINWRKNXVSOOSVQFESUHJVVQJJSYUTOPRMIMSUWSUUSOUVQMMGHMSYXTMHJJLTWTMJIJJSZ[ZTKPSWUHGPNJNUQRUYVROKLNOONNNQOIKOOTUQNKMPTW[SFABKRTQEDHKMIIPTSMKPRQSOKLPROFPWRLQUUJMNA9PWTMIIJNSUUVPKNMNNLQVVXQRWXRPUUGMPPIMPJJPSPJGHRZYNGLNY[YWSLJNMJBCNUTW]ZTUYQWWTPDENTYYVMQRNRUXWTOOQRTX\^\WPPVUTWTOMKMRVTUPQ[\YSJEOSQTW\`_[e]XUAIPVTTHFOIEG?LOPZ\\XaaRIQXQMSPHHRRPOQMIPPKKFJOKDEKJGFDHTOJNNGFEAHIQRPMLKDHINOLC7:FHMPTUTRPRSTOVTNKLQTVTKGIHKPMJKSVQTVUONLLJIKGOTWSPJLKIQUQNOHIHGGPVVTWUPPTOMRQNNECIQQJLPMLT^a[VSSPOHDIIE=CEKNHEIV]_aaZWUXWVSVSROIAFJNLKNTYZWQQNGP[[WSKHKMNKLPLNSXXTQKI@FVZVSPLRUTOUWYa`YMN[ba\Uansk[TTXX^`_`_[YY^_^ba\SNSZ_[XY__\ZQMLNVXJ@SWQJHKPPUROGFOPORMKOXXSNEJKMZ`YNPOMMOONNJFGIMQSULFINQTNKRRNPUQKBBJLW\ZXWSQTUXRKLRRRWZYRPPPSXYYTSQQSNEERVWVXUNKIHQSGNUVPLJR[YUIHNOSNMQVUWU__O29OMNIJELJNV[TO?ASZ[VUJT`dYSTPKRSSSOEEIRUNLNMNKJILLLNKJRQOPOHLOOJEEKPQRPHGQSRMBCJOPQPQTWXQOTPLLTVYYZXUNJKY[VUTRQNKPSY[VTTSVKA>KLJMLPNLKSSROLLOPMKNUXXYVPPVSTTNIHGFENXRNQPQR[^]WURQTOGHJGJKGMKBELUYYX^YRJFKONQMQSRRHILPKHOTXXSY\VY[WNLHIHDEGMNNORW\WQNPNLUZ^[WTQTUPPSSUYUV[[ZXVV_punaXVVXWW\Y[[Y^cbb[WUNGMZ]]WSSMPN@DMNZ]TFMVS[]XPOU[]]OQOMPNFC?GSQ:UHKVUVa]MUYdcXWZ\[UV_e^VSUcjhih`YXWTSUXXVVXXWRRUWVUYVVQTWWTUTXU\ZXUQNWZ\ZVVWWWXY][RMTXUUXVYWXXVWXQYKMTVTTTVTRMTVUUWVPLSXVUUYWUWZXTUSWZ[YVWWYVXVVXYZ`^VTTUQPSUTURWYZXKY`]TUTVRVUOKV^_ZZTXTX\XXXUUVUUSQXWVWYZVVUXXXWYUNWUYZWVUZ]^YWZ\YPQOMQXXWVTVXWVXWUPTQU_d`^VSROKPPKKNTXRLQTVWWTTPSUPMKNSWRMKUSVTVOUUOSTVRUWXUUUSTVWTWWYXVTZ^YSRRSTKITRINPOU\VJINPRVRJFPSKHEBNVUWURHBELPX[PKLLGHQTQ@IRKGEFPSXZTKIGDHMS\WSKDEOROORTSMJPFGEIMOMPQNNMNJP[[Z\YLGPWXURTSLDQTNJLLMQROSPNSTIOPIKRX^]UMEGLQTOKIJTYY]]XSNQUUUONPSSVMMIJIOLNRUMEKPUTVTMQTRLORROPQRSSQPNLMILNSUTNOROLIONGQLLROIGGFEBHKIHFIPQGCGDLRQNNPPIJJQQPTZTNMROV[[PINOQNKQSPGADCNUSOHC=>JQOPPNJMMPOQMKTY[RMRWYZXQJEFLFLT\]XNURVTSSOLGGPPIAHU\`a]UNCAKPJIQTPMPPPPRSTZUQQOHKHMZYXZL4FPIFI?0/9KZ`]UX]XZSMDCQ\b_SWRTRLKLPJLNPSMGQUTSNNSUSOMVUTSUPEGJHKPSPSUUPHDPUOFFMOPQNMTVTVNLPIDKIMQUYZVN>BNSTORTWUQOSVUMFQZ[TGHLJFJNSRGOTQPXXSVWZ\ZVVWUVPOQONMDFLVZVQPQOLMOSUWTWXUVZTPJJNPQGHIACJU]\YTUTSQRSWOKKQXVQCAKHFLPPPPOSSTUK@FKTVSKLROMSORWSMKSUSOORUVQPT[XQRMKPUZ_\RRV[`jplc]YY_ccc\XYUSW^^VR\_]\][YUNOT[XTVWNRVPRTPGJOIPZPUMMKMRXc[UUTFEKWKSQXPQS_SNRXYSRWQUTV_gf`XV]bhgi_TUUWUVWUYXQVVVYXWORTZUW[USTXWXWXWWTVTVZ\XX\b^YZTUXVXVWVVVUUXW^_WUSVUYU\^\XYUXUPWX[^VVSRUXVYXU\]ZVQOLSW]\UUTQWVXUVU[]\W\YUXWYVOQTOQVWU[[[UWRTXSKYMY]^cfcYUUW\VYUYXYSOXWNPPTYUXTUZ[UWPORSQUY\[Z\[XYZUTKMONQUYWUXY[WXTTRTTRTZ`aZYWTTPSSJLMSRSUNPTTRPMKRTSTOOPLMNXMRPURPPTRPMMRQVVSVWUSUVUTTVZTRU\\SSRSQIVQWSQUUWZVJ@JRWXVNFJMIKMPSW[^ZROQSRNPROQQIFMTXVOJJIFKONGPQSSOILQQPNPJLKMTWYRRRLGDMPPIGIPTRMOOKKQTSQWZYSSOJLKEJRSOMOQKKOORTSJIMNQSQOQNNKSPOPQVSKHLNIBMONJKJOQPOYYWRRTXYSTSQQSPQXVMLNORVUNFROMGLGHQVWSRTVOQQTUSPNMOTVPMNLMOMV]\VPKNTVMJLJ@NVVSKPSRNMQMLKKLNUQNINRNJCISZY[OMRQNLMRUVRRKLSVQRPNMGCHKFEBISY[\ROOTLKRTQSVOKVXSMNTURNOYWQNMOOQSTPGKNMQUURSU`fb[LGIJQVRMMONTX[\ZVMMLNKKIPSUTVOQRWUQIIPIKLJOSRK8INMMWVTRS[YPUYVOMRYVSLJNNLONIGHHKRRRRLJLKNJKKRSUWVTSQLGMRXWTKJIKHNWXSMPPORSWWRQPINVcd^VUSV]addfc[MSTW[]db\\_ff`UNRW\[]^SW\PGQSRUPDHOYZWWYZPHHHPTYZH)=LfLKUNUNNPU\]\\YTSUSVX\c_X_c[a^TQTWVTV]XRMRY]YYVVMJRUY__UUUVTVWTSJJOTUVTVW\_[WVYUYUXXXW\]_ZWY`aYTQQTUUWVWWYUPUTVVY[XTWSRUVXPWV[WVQRRQU`bYOPUUVWUYPWZZVZ[WW[YYSXUVWVXX\ZWUWSTVXUTWZZ\iol^SUWTYX[aYQYXTNWSPPVUXYVUZXVXVUOVWXYVUWZ^a\QXPYPORXUWZ[XXONRYYXWQVXXWQTUTQMSXUQXVSWXUXTONOMMSUUUPXPNQNMRRTSTRTQRUTSRUWQRWWVPRUVSSTRVRVTSSSVVRTNRPRSUVVQPGBOUVNKIGPTSRYXOSUWXVW[WPPHJQTMJLTWSPUSHBNUXUOOOQVTLLMOQOIACGLWXUTUQOTVXVQLJIJLUXTJICLOMPVUTSRFNUUQU\ZUROMOOKFQZXTQSSXYURNNW[WIHKMRQUUSMIJMIHRXYPHJQUVOHRZYUPRPKKJEKSPJMOSZXTQMLMIMSPQSSWURNMLJMRI@GJGLTXTPPPRVUPUSQRPLNOKJOSQKMPOKEHMNQTURQSTOOOTRPPMGGPTUXXVOMPMFDBGJKLJHONGDGJNNOWVTQNNQWUWXLOUXQNQROOQNRXSJHIKOQRUSQNHENJIMMNSPMHYWVR[dc[XTTPNMITXVTSSX__\[UMGIIRRNKLMROSUVYTNQOPSJPURLJF?HQWSRRSNRPC:FFGF@@CHQTYTOQPNJFJRWMKOMOOJAHOPNMRSNJBKRSPIFHNLGOTQOKKJLGLTXTSUVUJGRXVRQROKMOOOKLSXVRFCGIMTUVZVKINPIOWTMIKMRUWRUWXRNNQXYSPPMIHOROKPOOQOJMQKKOXZTHIKNMJBALWVKAJSHENSXUQGB:DNQKMLIH=KUI->CTPJ@FQSX[\ZHPVSTFFMSOS_cb]UTXVURUWWUSNLLPMGGMNPPOLQUTWVVSXVQMHLTTIDKMQTQMMJILG=>IMHIPRNSONKKRTMJQSUQNIFLKLPONTVPJKQVQRVV[WQOOQMQSTUWSQLLQQLLLKRWXWSOEM\]_\ZXUSPIINNKNTXSNKQPKNU[WTKKSZURYWONW][OZ]]QMPTRSTOLPRQPHJKORVWW[ZWQMHGKSVSPTSNQQPQQU_c_VNOMMKJPSPRSORRORSVTTQR[cd^WTQQMS[ce`YZXMS]]]_YW]^_YXVV[ab_^WTDAKZ``XKHR[ZTU[ZRIKPT[Z]\]R2(TVVVPKSXWRSbecVPUUR^a][[`_URSNUUX`caWONT\a]TWYXWNUXYYQXTVVTWWXUPLTVVTRTXYVVYUX\[_]WUUUWUSRXaYUOVVSUUTOQYYUPUQTXVWUYVSNQSPPVVWWVVTSSV][WWUUVNNVNUTXVZXU[YUOUYZWXVYNTY[_\YTYTVXUUWZ]dbUPNVWSUSVUVPNONOWYSOU]c`[XRPPUYXWVTWXVRNY`^ZWQKUTMQWWYUXYURXVTYSMTWUURRRPPPTTVWSWUSLRUWORVVXWOUNQVXXSTWRPOOOSRONNSSTVVWTVSVTSX[ZYVUOTPRMVVXWSTUQRUUVSUUOGOUVQMNSTVZYRXSKMPZaWSRURQMFNNNSVTSNIPQQRU^^\XQRWYXTMOPKLPNPLPPTPPUSONPV[UOIBBIV\XSPF=GPUUPIKRQUWST\^]UQLNNQLLU^ZUVQNUZ]ZWSRQMFIIKQO[^\PKMQOOR[^VFELU^[QIONIEIKNNVEGMLKQTMOROKKMNSWWUHFNQVVUPJFJNJ=CAAFINKKJMOQQMJLGNRLKIQTRRSVUMJNJGOY][VOJLROMLQVVQOEEIMNOQSROIGLNQMJKIJDEGLOPMNMOQVXYWPOQLIORPOTVPOPMMQNQUPMRQORUUSMNOJPSTKOSVWVTOHPPLP\\SQQOEDJJSZWPPPQX^`]ZVSQMQXVSIIPSNOQXXVSNRUPRVVUVOFGHKKEEDEJQICFKJDLNIIKLLPNLQTQKIOMIKOQMMKFBBQOQUWTMJLY]WNDKTXUQQMLMPTRPRURRTTSNHIPUOLKPQOMLQROBJSVPK=CEGNSQRRJ?FGDELIE>DHDHMMPTVVQMRSTNIKLRSRRRNJNW[WMNPNMOUVHFHEDFFD=I[`ZTJRSRPPQQSGHDKTRCLNKG?BSQICMU^XWEHHPSONOLTTPLGOXPVSSX]ZSTNHEQSPKLORQQQLNPLIRQORPMQPLGLPSQJOPMIRSTSRRNMUTQMJKMLNQUNKQVWWVSHGQWWSPJECKRTVTTWRQPQSSSXXXYZYYYVVUVPSSVVWTVUJIOPVY^][TMQW[]\XSTTPLLLFDIMSQIIMGIGOUXRMNWUOQWXNLS\YSRYYWNGFJNTLOPXZROMQRQQRTVXSTSJEKVZPFGPUZ[VQWV[\\YWVVXYXXXWTWUWTMMPQLPVY_ef]WSTSRVWW]Y]ed[UNNW_[ZZYXVMLNV^_]\]PIHOTVUQJEPWXQPTQ@FMJTUSXXWRXY`QCgbVPRWSMRR]fcTVXZ[]]Z\\X_ZVWSXZ^`a\TMPUXaaZVXWVTVURPQVXXZVXVWTTUQXTVWPX]YYVLOSXWZWTMMOTYYVXXXYYXWVYYLNWYYWWTNPXWZXWYUUYWXURSTTRUSTV[_^ZYVPMWVSTTUY\WZb\TXYZVUWYWOTW\\YVYUUWW\YV[UTWZWKNPPPPMOUVVXYSPUYVPTYb^XMRVTQQWTRXYTLPUUTSWVUROWUPOUWTUVXTWVXXRPSSXXWXQUYWXRPMPQLRXRTUVXUQQMLLRPRTRQSKOUWMQPKPPPQVSWUWSORVWTXXXSRIIVSSNTTWRRSPSTURUIKMIDPXRNQOPWZ[VVYTRSWX[VLLPQPKLLJHLPPNLGHOSVXX[[XSVY[WSWYVNQRSTWSQQUVURNNHSXXUSQJEXcc]WRMINQLMJMRSVWVPRQOKOONQTSQOVOKQTSTUTUXWQMGIPNLMFQ\[WMSUTNMJLIKB?CSZZSPPFFJEENULQRRSURPQVURTSRWWRJ?FJMPQQORPMMNHFIMLIKNIJIILILPPMQNFKQSNGHHNSVTRRU[ZUNKHKQVWROSQOPNNLMMLKOTQJIMTRLOJJJMQRRVVUUSPFDHNRQQNOLOUYQRTUOPRRTKOWSTUONNPPKJOUTSUQT[ZZ[]^YUUIPY^ZVSONH?ITW[XRNIBGUTRTRPTSTUXVTLMOHECNRPNIMTRSUVSRPLGMPVPJIMMMLKIMLHNVSOGKKPQKJIMSOMROJILJHLLHHIIHKMOTROSY\VMLORSROOIDKOMNPNNMNPSQPRTTQRUUVUTQOOILRTQLH@HNMTSUSTHFLJBA@KIEDIHDKOUYZ\VSRRZYQLHDNPRRM>DNVQIPXZQLIEJVVNINPKJHVYSOQLMSNKRXVQPLMORIDNRYEGMT\PNNTTZQDJJPYNIGHOMFMU]`_WXNKVQOJMPMMNFCPQZ\\WPNQKLNNPQNBJJGJNOOOMPTPOUZWLENNLQQQSTONJNOMIKLPU\[WOPUOMRNDJKS^c_YRQTW[SNFLTTYWXZWMOUWRTVYVVWQOKFMVPNV\WTRKRWVWXSQSVRQMIEEIMRVRNOMDDDGLLIIMIIKPORLOUTQKKTXVLEIRUWUPSRLNLMOHB?DIGGMSNFEMUSRORSQY\YQSNKS]\URQVUWXWWUTVQIBIQQUV^inj^X[^_^\YXXZ_a[]XYU^b^Y[\WOSVVVVUTTXYQRVXXOGEIKHJDVb`SWVUU^XWLF?;QVQ2KdTTU[RSUSRTPNUXSUZ\abcZTTSTUY]_XTWWQUVVYZZ__YUSWWWTVWWWVVRUWVTSRWTUWWQVTQSWUWXXTTTUUYZ_]UUXZZ[UVUXXYRURQYYUUNMSYWWYWYXWVVWUVUTVTVZ`]XUWVWXVYWTKPXZ_fg`WV[ZVUXYWVTXUTRVYYVUZc`]_UMUX[WQSPQSORTUWYYYUQPTWMUX[XVYYVOMPYOYYPLVXTVVTVUNTYYTSWQPWVYVUWWVTRWXVUZXWXWUSSPQRVRTUKKJRSUTPVPPQNTUSTWNKWLMSTXUNXOMSSUSUUQXYVXWVRTMQWTTKWNRTQMMOSRRPSTNG@NTOJQPORYVVWXWVPNRX[RSSQHBBHGGQRTUOC@HNTYURTUSUSQSPX_ZSTWWURPPRNNJKNPPSYZ\YRMLVab\PMOKIPPRJMSRJGRPNNORQJRSQRZYGCEENQIBJMRPOOLIORSUOLORRTTWTPKA<@CGNPMOURUYVVTNFHQUSQRUX[Y[\UXUONSWVTTTVXXSLSVTPNNMMLNRPMUUSTRRQPRPPMJFELKEJJJMVWSROOLKJMPPNLNTOUPIGKNKOURQLGLKGLRUTLPOMPVXQMNLMSRQLJKNPRSNLIFOWTKLONQURKBISRRPLRUUQLHLOHLTY\]^XPV[W[XVTWXWYWKHKNOPSYYVSVULKKLOTQJOUVZWTMMNIDAFMMLJHKKMJGSTPSQIPW[VNKMMJRPKDBLMKQMMMOQNI??IRSSYZQNOOHC>FLKBGMLIMMFGQWZXWPMPQSVNILLJKJPQTOPORVSXWUUXXWV[_`_YSWYXSIIQZ\WWTLIHJUZQHKPQLUWPJMRYX[ZTT[X\\WZTRRYZZUICGDLTX\^XPLKT]c^Y[ZVQSUVQKRRINSOTWTUVVNNX[UU^cYX]^RHCC5IFCV[^_WG@HQOGFJKNKNPNPMGIMPODLL?8@POPRPSNIIILMNOKCKPNPOQOIFLOSNNTXMJROEGPPWWSPJDFEFQQQTTWTNLJDEORPQRV\__WVTOQWTF?CFGTY[XTOOPJMV[YPNLLMHKRUTOPSTLIBKQNNLNMNQQMG=FJIGNWZQLQNFIJORQNHHOPNPSSXVQMRX[ZZTHKLPQPPMMOQQKFDFLKMJKLLOLILNNNNSTFDQUSVTQZdbVMLGLVXSUXTNQPOEEUZY\dih`XZde`Z]ZYZ`c_ab^^_cb]QNKKR][\ZXSQUYVZ_d^RRTTSTNNUb`XRSSSVNROQSSPGCI6ZUR_^ROPWJVPQXVPSR^gnid[UTXXTTXWXSTVSXVUVW\e^VQSUWYTTWYYWVX\ZWWUWVUWVOXXNVWZ[WXVXTUTX^_XRXXTVOTYXXWWVYVRXWXWXUYUQUYUUUULQNUTSXXUUYZ^YYTXZY[WZVMLPPWZ]XWUQTWWSWWYONPQYXWW``YYXZ]ZROYXVYYOPRNVUYVX[[PWVYVUVVXVWYYYOYMPUUPQVXVYVWTRRYVSSWXTTURUQUW]\WUWUOSYVUWSOPSTOPUSMORKWJMRTRUWKVTKQUWWUQXWOWSVVQMPRNNJMSVVUVWUSSTRPNRSRNUHRTULJPPTRTSSRURORRPSSUWXRLMMMQOQSQSPMNNHCFE@CNUWTMEILMTXUVUTTUTSRQV\WTSRWXPLNLGHBDRURLLTZUOMOR^_\OOSMLNTUPOX\SLIJJKNRPMQXOQWYOFKNKLIFINHEIKJJOTTROPQKNXZWOLLIGEFOWWQMORUXVVTVULFRTPPNNTXZ\ZVTODFJKMMQSTSSTORUSTROMRTROLLQSUTOMUVSMGMRTTTK@>>CMQMMSQHIMQILSXVRPMOPLLMNQTRQKLGHEEENTRPOKJKKG9?ONMPRUTRNNQSSVSPQTPC?MOPSQRQJSXWSQNTURRQXVRIPY\XVUROUYYYWROOT]\VNJJFDKSXNFPTPLLOMML@FLMJKQONPLLLKLOLSUUURHGPQKIHFOTRPRMJJMMTTPEKMMRXXWUSTOHGJNNTVVPFKSSQRUOOHEKKHGJQUVSPQSNHKNQTLLLIGMPQSNHHJOUVQOMJLTUQS`da[UVXXWSLMQWTPPKKPPV][PPRMMRVT\_]TQTSPRYUOPOQPOMMSPSKIJHHRWQTURPNUW[YX[[ZSLSVVSWUSXWUSQABKJSWS[XKS^cSUWM?JITWS:9UZZMA?JGBGIFI;JZ^TTOLOOYWJFOLINTRNOTWZWYVOEHRPGEKPMPRRI?@MOLFLJ?GLI=@FQQPNLFEIJHJPVTRPMHJKF?5ALNRPRPRQQMJIRSLFKOMNVWUSZ\YSONLLGEFGLOTTTQPKTUTKEKMUUPKJNUVUIINUTPKTZRLKLKMLHRQOA8?HGMOOLQQROOWWTTQMOPIINUVSROHDJNSWXYVKHNQKIJLLILPJEGLRSVSS^]WVUMHS]]_aZSKRPIMV]][ahjf]T[aa`b`ST\`][_bb_a^ZXURY]]YZ\YVOSXWY_a_]_c`XVRSXTOOPSMOVQNJNVVVWRSN?X[ZWSai[NSHRWSYa^`ced\XWY[VSTTUUWVTLNURQXVVXTNPX]`]TJMVX\]]XXPNVVTTVT^b[QOVYXXYYUYWWYXWYWYZXRSYXZ[YYWXVTSOOVVVSRTZ]\YXZWUSQPUZWYVTXYZ]Y]_\XUUSVOLXVTVVXXYYMRWWYRQPRSYU^gaWTTV\^[XVOMXUWXXOMOSRUXYWVQTUVWVXXWWXYYYKLWPRVVVQRRRPRTUYXOUVWYSORSPUY_[URVVVUWSXXQNRVYVWZUTPNKRMXSTOPUTMJPPORRKNPMRVVTVNJNLLJWMORWVVVXSTRRUURRSTUUQNIIRRSRXXSSITSUUOSWRTTRVXTNPV[YRRSNIIOORPLHHJSQHACNNQVRIJTVUOMUXUWXUVLJOXXRLIKPLCKUTKFOTUSROPRVQMXWNMOKOR[^^ZMJKIEGMK?DJKIMONORTPORPRSKLRVVOMRNPRW[XX[\QEHMJIIHNRQJFMSTRW[XY[UAHKJLQRVSSPOPOKOUSLMOQROTRNNNOTSQNRUSPMPPRXQNOUYXRNQQXZYOKIKNLFHOVRQORQGALRYXVTQJHHGJJJJKNPONNHELPLQOLHIJG>GRTNMSQNMNJOORUVSTUMAKXYQKHRSV\]UQQTNLGJNWVNNVUTTVQJMQUWVTLJIR^_VQKIHDMW[VNHKJKRTMC?>ADJMQPNGEBFNRNFMPUVXVRMPSNJHKRRQMOLNQLKOVPKJNSVWTTNOTONMLFLOLRUPP[WKJKIEBDKJEAEPZYSMIMMFHMUTUUUHAFNRNIBAHMVZVUOKMOQLKSWXPJMT[]YQMPUSMONURQPY]XTXUTOJJU_]USVQMORTRIIMQSMOXWURNSTKQSUY\\TNJQLFMW\a_^TVWX]_\[VSQNMSRTY[]YX@=GOQOKFADFNORVNHHNWUPGGHDCHIHFMJJQWU[\\WSQQSZ_][TNKTUMS\]\[\`^_]YYcefaWNQ^_[V\b[X\YXXVUVXTPRXVUXVZXSVY^[][^XW\``\SWXYRRVVGG:GKS\ZN@JIm]Y`bbYUOSQRTdjjge^YWUXVWVY[^YTWWRQVXSTQVUYWUY^XZ[XTSNSUTTVVNPVXUUXWV][WOOPXUVXXXSTVUT\ZUXVUYUXX\[XYYXVXQMXXWTTV[^UYY\VVVUYU[YUOTOSXZXXVWYUXVZYSVRWNRNQUTRRQXUXTRPOVW_dgZTUXWYUQNOVUZYVYPNRUSXUUWXYXVUXUVVUWYQSTNQMSUPVTOXXJWLTVRQZNXUNWSVYTUXXURXNUWXXMPTXUTYYW]`_XWMXVTOSTUTTXVXTVU[VRRUTWSRTSNLMNKTWSQPQJTMNPSWUUTUSOSSTTIJKKLTX`b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`c`YTTZZ[RCIPOOTXYVNLWWVQRROEK3HKRUVWKBWVILUSFAT^]WCNZXXXTMGHDLWZSR[[TLMYYRINPVSIMNNTVVQQUXXSW\[SNRWUPPNMNSSPNKTYPKNLNLIHSRGHJJHNRSGALMAIQULKJQUUOPSH?AJNJIJLORSORTWVONPOOU[ZTOOTOLPOPXYWWVSNNPMPOONOINKMUZVQPVTOKJMLKHMMDMPVVR\caXVSVY[ZVSQPNMONJJHFFIMMMMEDCIUac[WSFDOOOTPIEOMKU[a^XUUOX\XQPKIPJDNQZ[[[[X_bbebc_ZWU[\]ZXZWTWYSPTURYYWMGPTTPWYLKPZZWY[VRPZ[XV[`YJEP^ZRY[TNIVVHF3DUn\YWWJMZ^ZWYcfb_bd_\VXXXY_b`^XUYYVYYYTY]]WWVZYVPXWWUVUWXYYWTXXZWYUSY]ZVTTWWZX\\XZXXYYZWQVSXZZSV[]]UVZWWVRZXWVVV\`]STZYUWZXXZWPOYXSTTXZTYPXW[_YZ[XZTVTOUUWWWZZVW\ZTSYVX\a_XYWZVXUWZY\[[^WTXUVUYSVVWVT[^]VXSXUXWVYYXYXWXZWNWUSSOOMSYVUOQXVYUQOLKYUKSTWXOPXTWXSXVUYVXWUYJMNOSSPKTLUWXUXWXWRUUXUQPNLMPPLPUPQPSIKLKQTRTVWVVSUUSQNVSOMIRY_]WVRTLQQPPUMKTVXYX[ZWRTRRPJDJRYWY[YUTUUMGKOMMGKPPSQLP]ccXOHLGGJSWTTOEFPQKIHOTPF?MSVWRSUQMQVXTQRRUQPPNIKII@ENQRNEJIHS[YUSNIKTWSRVXVVROY\SNNPQSZSHHPPLJJNPNNOLHNSSKHNNRW_]XRLPWWPINQNMOMQWSMLMRNKPRMKOKHLOLIFKOLMVXUOMLILTXRPNRRSY[\^[TNOPTTG=>DKLQSSLHJKECSZSGNQXWURNNLSXXUMQNMNFCJJLMHEKMRPMLQUVUQMQSRPJISZWLOW\]\TNNQQKPRUVSRRJLOPOTXWUQMLV[TUPUW\XOPMKMTYYUUSMKKLKLINMY\]ZVTTSLMNMQSVQNIHJOPQQQWSMKPNMOQUWVQRUTKKNMGGHMTROKOQSRQOLKGJOONONQNNNJ?BOQLPPRSOLGMPNRRPKD?INOJGOOWVWX\XVQTWWVMMLJPYZYWTUONJNOQRQRSMOUZYURRQSOOPQTPMMJLPURNHNSTVYY[XMMPIMSUTU[ZWVSTSQPSZZURU[[TMGSXUMBBIKGHQ[VPLLJKRVWTMKQWVW[`\IFNQI@ORAAPTQPG,?MVVSPPVWSVWRS[ZSOU[ZPKIJQNDIHIT\_XMLOLKNYZLADIEJPQPSRKDDCGMLPXUMKKDDMGGGMQQQNMTXUMGNOONNRWZSEHMJHNRQSPJLPRRTVRLFGQRURW]UJPURLMNCKXTPBINLGDHQSSNOVSKLMQMKTVVSRQJEBDCGPNLHKOWYVQQPPSVWXYTPPOOLLMMLIEENOOQONQX]\\]TPRQW[ZRNMHOOS_d`YROUYRJMNMOMRWVY]W]bcdb]YXUUWW\]`\Y]\[XZZUQW^a``ZUOPWSPXYQDR\[R[\XWYYTLEM\[SECJMDZag\REO`\OGPVd\ZPKT[Y[\_c`\XYWXSTV^d`WWKNTU\^XSWTSV]`\ZYZVXYZYVVVY[_ZUYTSWUWWXVVZZUWYUYTUXZWVUUUV[WYUWXXWPSZZWVZXVTVZUXWVZY[]]ZVYXUOTZWVWYMVW]ZWW\XWYXZY[YXZWYZXVUMRXYVYYYV[]XZXZYX`b^[ZRSZW[\[ZYZVMTYYPQXYYVVYPY__VQQLSSUXYUXXYVXZ\TPSTRTROTX[YXWXYXVYXWWXYYWUWXUVNRSVXYYXUMSTTPNRRPPWWRTWTVYWONNNOTXVWNQPRUSWSWUTQSTSRPLOOINQNKSVWRSMNSQQSOQTWVUTUUTYYNIMOVUQTRPUW[[WRRNIERY\ZXSRTXYSOKNJEFLSTWXUTY_aZSSSKECJPOY[ULOPPNHNTRGDLORPOUTTRU[YQLOMGFQXNKKNLMOX[YMALRR[[VTUJIMQVUSY[ZTPX_`]ZUVUPXVKHIMSVSGFIQQNIEONKIPPNRUWPJMRQNIJQQOLRW[\YQJGPSWYUQHFMOLLTSNOOPQQU\]UQMMMMLORTWSOMMMILMLJCJPNIIMLKGLMHKKIIISXQRWVU[UKJPUV[XPMRTLEEHEEJHCFEDILCDNORUROMQNHJLQVRPY]]_a^TRRNFBJU[]\]]YXQNNQVZXPLSXTNQTUSJJQQLRTWYX]`ZSMGFMNNU^b`\YYWMDAFPTUYUNLNPQSVXZWKIKF=?EJQWSPNLKKPLHDEMNIIOSSOUTSMLLSMPQPNLLJIEEMSOKIDMPPHCIJNQSLJKOLSV\MKNRUWXWXSOOVUQVSNMOVRPQQUZ[ULOPNQSURMRRORXZZTQLPSPNMPOPTTSKLQPRUWX[\NJMJKQOLTZYRRTTXWVV][UWY[WVSOSWYUOIJGCL\_bWLEOONPXXSVOOO^^YMAN]WRDPH?OWXUTTIRUULMPMVWTTPMOVXVXaaT=HOKOROOMMPU^WF@>GEGPPD?@C?FINMLNHGKLE@@ERVSTPE=KJFDFLMLPSSSPLHFGJKQOOOMACJPMGCMPMKJIKPRUOD@>KVURQUSGT\ZMMJFLPRYNKLG@EMMKMNPTPNNMMMHOOOQWQJKGDJQTWRRPOOTZZTMOVXQPTUMMKILLINLKGAGJJRUSRJGNRSRRMNPWZXOEJKIM[bbZUPNQLLLKMSUSUW[`^\ad`UNPMOVXXY_^\UNVQLSY\Z[a^[YVUUSSQRWWTRW\]TWXS`cZKGKNLSKHMLRY^bkqlRNheZ[PR<=ZXUYWUTcbXXWUV]TWW^gj_YWSXVVVWVYVNTYUYYYYZZUXWURQV[[]WZUWUUVXYXVYYXVXW[UVXUOSRVXUNQXWZ\_XWQYUZVWVTQVXXTX``[YXVVTVUY\YVVXVSQSUZWYTW_^VVXXVYVZXX_]ZXVTXXZYXWZYXVZVUYVVWWZVTPSZWVWXZXXWPQWUXW]`[TQQNUZXVPRVWSLSUVXVURNXYUPXUXXTVWWUYYYVUOVYWUWVUVUXVSXUQSSXZZYOLTTTTTRPMTLVTVVXVXWWQOSXTQVVWUXXTYWXTRTTTRTTQRSPJUJWSOSUVNQNIWKSRRRURTTVRUY\VWRJKSRKJSVUSQUY]]\UPMMUUUUTPMQWQLQUULKQVXXWYNL\^VX]WRPMPRPP]]QQWVRKMQSLJIGKFIRYXZ[ZWNHOQQTZVQNQNGOSUXPHGQSOY]YVPC?INPPTYXZZONZVVWWVVQNRSUPQUZUSEHRTROKMOHINQRNNNNPTWVXQPTQJQWYVPIGHKPTUQE=IUYWU]]UMNLKRRV[RGLOLFEDOSTRLEFKNMOPLGCDFHPXSGJNKDLMNLINOJRSJOXSIIPWXWQJIMQNIEEHHICCKIJRVMCMRLKHFJFFJMNTRNUZVUX[WRPNKCCQX[YVTY[[TRROMTWVYVVPKPQURPTSUQUWZ^_ba\TLJLPQQYcc\RY][PACMQNMOQILOMIJLJHJKLIMMIFGFGLPOQRQMKB@DIMJOQSUTTPHNPJJIGJNPNQPRJFEIMPJFIKMQPLIKRUPKNPOQV[WRSTWVRPRRLQMNNQNMLOQTUVSPQPORSJLQNLPOOQSY^_[ZSVX[\ZUXWUOKMNJLSNKHMTXWNGJORTTHAGNYQKNSSPGDRQIFIHIPSRSS[`YMDHHKKSURMLNTY]^\XQPPPSYWPRVUUTXXVX]bb\Z`a[UQ[\YRRQRUURLNUV_cTYZSBIPQQTQKPDDUZ[chcKMcb`ibZQN:SSWPKWY^Y\aYVZd[WRb`ZUTUYWWPLVYQQW[YNLNVW[ZXONTPVVTYZUURRQXUXRTROUTVY]ZWXX[^XXWSPRWVX[`_WWXYUVZXTSXXURTYZZXWYVTUYZa_VUSSPZQSVXWV_b_XUYYYZY[Z`b\VVZYWY\YYX[YZY`^WYYZVZXXVWYXXVZTPXYYYYUUY[^]XUUSUUYXRRWXZWWPRUWPNRRUWUVYXUWWVSWWWVYWVPUWRONMQVVVWYSSWWWYYXURVUSXTUPLNRSPUXZUUUQOSSTTSTUYYWWURWVVTJRWPSRPPPQLQTSMJQUVTOQWWVSUWSQRTXZXWPXYXMSRJMQMMSSWVQTTT[YVTSHJKKU[YPNRPOUYVRQT[ZTTWTPX]TVXWRMDNWVTQTPOQSSQPOPKQTPLHKQNQXWSZUKGPSYYTW\^VCHQSTN>FPOHQ\^]XOINRVRUYVXXMJIKSSPSVOQRTTTSSNNNPUTWOLLKOPPOKMMIIMQRRTY`WV^[UYZWTPONJILQQLIIMUQR[\UQVTRSRNNGCFKMQLIPWVWUKNW[YOINROI@@GOLBHMLGIMQOLLIFHPKMQSNKQSNIJTVRPQPMIMMKKJMMIKXYVTQPMJGGDCMPIGBERTQLOVTOGLIG@HVZ[YSTYZZRTKFQRRVUUVV\^\KMORRSPQZ^bdbaXQHJOSS[gkh`YX^_WNGDIMKMRTSWRMMOSRRNSNINOSSPLONHKMRPOORUWRLJWUWSTQOJRUVRPLQQRQNKKMIDDCJNOPRQUSNOJFIT\_YVUVWQPMOOQXVRJLUVODBHMIMJKPTTZ[RKPVXVSLNQPPPLQOLILQWWPNRMFKNTVKJNLGOYXTK@GQTSURXZUHDHNUYXY[X[QLJRW][RT\]]TPW]]XOMLHIR[ZYSGNQQY\Y[bZRQRNVTUUOFCFB>RYa_][XVSJKORUTOKPTVUUQOPOKNOMUXZSPOPT[XRRNUTTPOMGOWXQVUXRVTVRMIR[__RGINMKFKR\]][XVRRVYYUSPLE?GMRSOUXXVRGFSWPPPOCFJOTRJILNNNPRTRLLNLJD@DGHGOPLNSUTRRLKNQMQSPILKOQQOKBJPKDELPPOPOKPWZXYXUOPSQOMKOHJPSUWWQNIIOQOQTTRTPW]XTWZVMORKMVXZYROOSRNGEMLGLKILWXWYYRMOPQPNNRPSY[\NIPQQVYWONQOHMQOSYVWZWNJRRSW[ZZYXWMHFADW\XSQLIAAHU_XHSXdebR@APQQQQHMMQGIMMPTTLCBFIQWW[XXOJIHDGDBJQTOGE@CKPPQVUZ]ZXYXZXNOPKEADCIQTNMMSRTKJMTQWWSUWVROMLQOKMNR\a`[RMJMQOOPMJPTUSNONNQKMSRHOOF?FJQTSJNOGJU_aZVQUVKKQMLVVNJMNNORPMPOOCJTUOMSTPFFLPQPOKHDHQOJNMQSNPQQPMNIJUU[ZUMQSKKQWUKKLLIKLNRUUVXX\]\]VJO[]WQY\XVemsphfa\VRT[YTRQ[aaUPSWYXTPW`_ZWRTLMIP\ZRV]aeaUNNHTZ]YPELRVUY^]TNMNU_^ZJ6?(=NW\\XRb^VKRLWUMNXX[_e`cba]\]_a_be^Y\YYVVWSOQVWVXVZQPSVWWWUZTWUY[`_^\_UYYYWVVY[][VPRTYXVVUXXTWVZZWVWXYVRONRVVWZ^]YZVWWX[ZWZUXWY]d^Y[Z]YYWW[[\`]XWVYMTZ^[ZSWXYX\YXXXTRWZ]YURWUVVZXVUVYWRVXQMYWWWVY\WWROUYTPUVVXPSVSWYRPPWVVTTVYUMMSSRPPNNUSVXWZVYSRV]^\XXYYUVRSWUVTUYUTXWUTVTWWVVWOLONPOSUTTUPNNPU_\VUSQVVUUQVMTTVURQQQSU_`TPPQJORWZ[[\VQNQRWSPQTMMNI?@JLPSSUWZYURY_][UOOOOPQSUVZZZVNIJPV]\ZSZ_ZOQVSQSRPORVXXSQSTVVQLNQYURPOONLMUTG@GIAEKKNMOQNKGIMQQQSQJLOILGLKQQW\[XWUUTXWQMSVSUWVRSQMEOPOPQPNNSN?BHLLOGKVXYUOOUSNSXXIJOSSTZ^]ZXQLHNSTRQPPLPUXX][XVPNRRQMGGMTSTPHNQOSZXTNMOOPOQQPPILMLLHEOVOJLNRQMILHJLDLUTRRRTOJEHUVTKBLPTQSTKDMPSRKECIGNQTRQQPQQPSWWOVTNPRTQLJMRXVQPOJHIRURLMTVRNQTVXQXUVRSWWVQJKRTWTRKOX\YVXXULIUXXZSROJCCHLSVVOGEJQXWQOUUKFKLOVOGHED;DQODAHKLLNSNQLKOVXVRSSWXVQQOORPMNJHKPYWRNRTMIHKQVOMNSV[WWVTONORNGHEFDGIJKSQPUOJUWTOILQOMKNTOKNHAHPPNY\ZWUOKU[[UMOROMNMRRRRTSPVVQOORQPNSV]]WQNFKTVOGIORURGHJSTNHCAELUY`egc]YXRMGCMRUOKFL\Q@OVUNMOM[^TJKSQRRIWPPOLNLOOOQ?:CGJKNTUUVXTOTSLKG@ITUL@BKRWTQTTRVVYYXXTOHGGFGIDLTSSOPPPNTSSQQQTSTZ\WOHDHJDJQVVXYTTVSRNOLOOMOHKLLMJKJLNRTWVOJILGLNMNQTQQTWTPNSSTLKNKJRVUOJDHQRPMPTOGHOQNKLQPRLKJGHLGFGPSQPOQLJJQVSMIGBISTRQTRPKKLUY\YVSTRQREHPTVWY__ce]TTWYTVRXWZbennmlgYSNPXUPQSY^]WUPPZ\_YZ^]]UUQFFJNWYPJO[a^[Z[POSZ[XUTSUWVXYPPQPHNZa\V(1NFEKPSYD`_ZSWXTOTZ]]YMTXUWY]ccfc_[\WVSPNTKVULMQQQSY[YTQTVZ]YWY\ZYV\agf_VSVVYVY][ZWVSSVVPMRSROYYZ[^^XTWYXZPRYVX]a\ZTSWXWXW[WVWYRU\\XY[\WNTZWY[\XZYSQOVVZ_[ZXZZXZZV\_^WYV]ZXVWY[^]^WWWVWQSXRMVVVUYXXRRVVVRSPQVUUWSOQTYWUYKPXPYPQTSMKMMPTTRQRURYUXVWXWWadb^^^YYTNNT[VUWUYUXXWWZYXSTXXSPSRSTQTNMNLNOKVX[YXXX]`[XUNNUURQQMORSRXWSIKPSMPTUYWXTRSNSTQJPSPPOKIHGNUVURPUUTX][XRLKPTRTXZWOLDHNKNUUY^_^ZXVGITRMMNLNKONKMPNKIPNLIMQXZ]XWMDQWVLGGFDIKIIQRKDHKMTWUSRPGHMRPNKMGJPVVTVZ^\[_`ZUQKJSXYXWQFOVTNJFKRRPENSMJQSJEKQVSQKKKOOOMJKKLRPNSVYZ\TJKXWUQUTLPRUXZ^\ULMQRNHEHOTVVSILNLSYWTTRMNPRMLRVTMPRRLJJKCELMONHGLMKHAHRTPKFLMHHGLQWSKBGKPPURLGHJLJLJDDOTZWOPUVUTVWSV[WPFMJJJJNKMKCLNNHMOSMEENRUWY]^^\WXYVLKSRMRTQMKQRQUUVVU[YROOPQWWSOFCHCENY\WGENSSRQOJHCADAEQTNJHJFDOSIFFMQRSXYRPKNU]\UQQRVXYVRNMLPUQPQV[]WMOMHLPPTYVLJOTVUWZXRQRRRRQONPKHCFRTSRMJY\ZUQQSSLBKPVOGJECCMMY\WUUQMMQQNGKQLHHOVURTYYTPUQNPSOMPRPSZZXPKMSXURTVXZ[TLIPXWXWVTPRUTT^c_YTNNLGFLHFKWca]GIQRJLEAFJ>46?BMPMJBCKOUXRMNLJEJIDCHMKIMWWTXWLMOJFMQMJKOVVRIKMKJKOUOGMMLHFFMKNSWRMOPOKOQQKNNQOJKNLJHHAFNRPUXVUWQNQVUPJFGMNNNHMQPTTORNLQVVRTTPKHNRTNOQNNPNEPUTSQQTSQMGFMLKOWUVTVUTUSOOKMOJHMOPQMIFNPVTQKLOSQIIQWYTQPIMUXVQKPQTVVTSTUTYWPWZUQUTSNOT[b`]VUTQQ[_Z\```[\ac_[XVUQJPXYZZZ\]Z[UY]_`acZTTYTOWVQPRRLV]\\[YVJWZYZZTDCMX_\SIRV[U]d`VL+4A:CETbOZPRYY^QK\bZWO`_SPUZWXYdc^\_\YNNYWYUUVVUU[b`YWTSU\ZVYX]^_b^[aecYYWV^\ZZYXVWWUVSRVWVXUVZYYXYZQWWVUONTWXX[YXYZYYWVXZYVXWVYXYWX\^WQSWYVX^\^XRTWZVXWTRV[]XV[\\b_^\WY^YX[YX\a^\XZYXXUYQWZZYUXWSNOSWYVXVXRTUUYWQMRSSRRXYTMLNQXWXVVUUUUVWUSWVTRXZVV[Y[]]\]XVTWVZ^^]ZXVYUTWZURMRWWVUXSSOUQSUMXRQLTMTX\\YZZUUTUVSTSXUSROTSINVTURUQKRTSRVXUTRMJPSVTUPWVTQT\[UMRQQQPTVWUUTMKMRPRTPMKNHDHITWVLPNQTQIFPTRLNNOORVOIOJGEGLUQLGKSVVWRIHPSNMKHCBFLMRVTIGLJJQTPOUUMFDNTVPNPNORRPITWUTX]WPPQRPW[YWSPPPTVOILSTQNRSMINNOLOUVXRTTQNNPQLLJLMMJRROZXKQ\[WSSOMSVQRXWSTVVXYQEJJHNSWQKLLNNMLLSOJFMRSJIUWSTPJEKTQIKMQSUQGGHKIDEJKLJJORPNONMTVMJOQQQUZSHGMROLLLNORQRQUVTPNHJNPUZNMSMCCHMPSNFJUVTRXVO@@KQSSRSUUVUNUUQPYZVZVPC5FRXTOPPOSYVWZTNMRXTKEIKGHOVTPRWTMKSURMHHOPQMNQPNOMELKIJKOQNNVYVFHPT]]UNPSQPOPORTXSRVTQRWWQHEEKRWSW\\WPJMOPVVZVSSQKLGJKNKFGLSXRPNS\a^XUSSTRPUW[\VPGFOQOSVQVVKGKNSPQPPPMMTZ^\Z][UTTUQUTUURSVXSVVUZZTPTVSTOMWX[NLTVQTXZXQPFGZa\ZVMNYXK8AGNcggj^WWWI8=6>LP=7?EGILNE:LF@ILME>GOOF@>HQUWXROOIDDGKMLOQPG>CKROKNRQMMJFIEABQSRPGGJEFIOLHDCELKGCDKPPRLJLQNMQNNPMFKMPPNNMKIOQRWVSOOPNOEHKHNRTNIGQZ[TOOPMNJBIUY[USTSRYXTONMNLQPRSNQYYVMKQXZWQRXSTRTOOSWUOGKMQOCIUXRRSUOIPWVQMTSTWUKOVRSTRTVRQTWPKMPVWUPRRWTHNW_acb\Y][^XXUV]\SY\\VTRWY[]ZTW^chfZW\a]\_`XOVWMKNORWXZY]XSOVVHAVcfaWKDX]ZXa^][D@FGL;DW^:7_^^ca]Z\YSVSX_UXWTTLW^bdigaZVTTVYVVXWXWbd`YWZUX_^YWTV\^^USTXZVTX]^\XSVYYUVVTTSUPPWWYWUWWZVYWXVVVX\\ZWX^]]YWXWYWZVSTOWWVZWZYZTRWZY[\a]ZYTYZZYZWWZZX]YZ[Z]][WXWVXWYXWV^_`^_\XTYZXPV^[YUVTTPMSUZ[\XVPSVVXYUNKSUQLRPONKOXUWUXVXXVTTQTXXYWUZUVUVXXXYWXXUWWVWU[\YZWUVTXWXRLNMPNLTTPWPUTSUORPNRWXXXTUXTSVRRPNTXZXTPSUVWSXYXROVZ\SOSVTUVTNLUVUVVTPQNTZ_VKKSSLPRRPQSQMHFEJQQLFADDGIFNVQONNY\TMMRURRSRQTUURVUTMKFIORMFIQTVWVKIPOLOUPIDILLRYWMOVQOTTIINNLIFJQMMJPSWRSSMMQRPTTQMTZWUWVQPTTTSSMJBHINURSLIHPPKNMNRRPQYWRNPRRRJPTQOKKMVVJP\][XTXVTSTRTQQVZUWYPKNSSPQSSSPSURONQVQFBGNQKMWYUQRKINQLHKJQUUVPFBLQJFKMJFIKORUXSKMQGIRRQSSNLFINSOWWTSTZ[ULEDN[^^TTUMT]XTUSUTTRRMHJKLNIEMKTUTIEMTLC?@GNKIEKNLLLLPQKNPRRMMPXTNSWWSSNIKHOONJNNPSVRVSPNQLNJFNUXRPRVWWXZZVPMKMNLKKLH9EJLNLMLOOKGRY^[XRJPXURTZ\ZVRPUZ]VRSPIMLHPSVZWNQTPRPNMPQSMOUZ^[SRUWSOUYWTPLLV]UQTTOLMRY\VQJQYXQRURMLNTR[_b[OP_bWKNORTKSje_WHX\NRTXI=CLRSSNDDJOFJLKH?FILPIAJPOOMLJVY]VPPSRIEOVRGDJLIGKNOPSTUTQSPLNNJMSZUSGBFILOMMLMMJILNMMRUWVVSNNMEGKNLFIKQLIKRVTOPOPUYTOHOL>@HNNRVSFDDNSROKPNPNMLLKTVURTMNQYZVOMGORVORMNUWUOKLSSUOSWYUUQNLPRVXOFEPQMKTTQTZ[VMTZWQS[ZSVXSNRNDJWVPIOVTKHMMMOKPPPUUPMPW[ZZVVVY[[VUV]^]\a^TJJZ`aa[UUZ[c`WT]a[SV[ZPQWRQSPKNS[``XRJMXWTX_cebYLMRKJRSPMB2#EWP6CIDSbldWSUWTU\RWXVX[SUVVUWaeibUOT[WUTNMXVXX\b_\Y\XYYYZ[\WR[[YUXYRVVUY[ZWXXVXXVYWSUPVMYUVWU][WUTVUY\[YX\\\ZXWZXUVWUOVWVOYOVXY\_\WRWTWWW`^YXYYZWZVYYVWXX\Z[`\WZUWUXVVWVYZX[XW\`_VYVYWMOVURXOLUULKQXYXWUSVUYZVXQOUVVXXVRMUNXWVWY[USOOLXNX[VMMZQWXWXXYVWVTURXVVKTYUYVWVTVVWXSNRTMUWLVXVTTVONVWSOWXTTRPROQSWOONSYYUSOUTTSTVYUSQUZZSQVVTNUUQKSVTWTSVQRPUSURVWUOOTOLPSIDHPRXZVONLOONPNRTTRPV\ZOMRQUVVXWPOFFHLPPPF@IUYWKFMLLNTRPTSOOXVQKOVTQQNJOYVQUXQHIKHHHLQNOOKILNPSSQPSTSKFGMVWSSOMNVWTUVPNTYSMQSSQPPNONTSOLMHJLPSQRPQTTNQTNRPKMOPOMOQTTPZYUUWTRSMOSMGLOLILSSMKSUUXYSPQQSMKKJMQKLTQI>HIPSTPHLSRPCKQMCFOQFGOIKRWVUVWUPNLHBGSVQHNQMFEGMQTPPSUSPIBGLHLLIJMGBLPEAFLPPU]_[POLQTW[SGFMKIMPNOLFGRTSWZZZ[WPNMFHPZ`^ZWSV][VWVXZY`eaMAEMQPOVQKLLMNOOEAHJGMRPKGFJPUPPQLFPQOROKMTTUYWTPLQPKEEFGMQQNPOVYXVPOTVSRWVSRNKMQVWY[XOLLRTTSTSJHDFQUUSRVSQT\]\VLDQSNILVWUPT[_`[RNROMKGLRZZZREB@APVYUPQQNPU[aaWQTSOPTUSSQNMUXPOTWYUVPXXVTY\][VUNOUSRSNZc^\TXXWMTT_d^R]e]UKBV]_^d]ZSMXZRJNHBHH>ELMBBLUVXWUOOKEE@DOVUQKKVXQNVZZJDEKMIOPROQQRQKLPNOPKIIJMPPGCFELMLQTVQGEMSQMFPRKKMONHCGNMEISTQJEMQOMJHNUUUWTUPKAIMIPXZVQNHDCELMUWPFLUSRRNWXVWSQRSPOMLRSWWRJOROMKMQTSTSUWWUNIPQQTRQNV^\NQRIKMTUNO\a[OOZ[RUZWOPQLSYWLKVZUKLQSXZZXWOJMKJMTXada`[XVTOV_cgecc_WRSW]cc]UU\XWULGSY\WZUUPUQILRPTVW\YPLILLMKQ[UPUX[ZYP>9BCFLRVWY`\TNOPP`YVMMMRUX^IMVXX_f_XUW]jmhVXZ__\XXUVUYVSTUYVX`]\YY]a\VNRZWYZYUUYUUXUZVW^bgdYVWXWXW\_[TVWZURSTXLTYXWZ_^[YX[\`c_YYUXZWOWYZYY[^ZQWZWYYYWXTZXTYX[XVZZYY]YVYTUVVTW]\UQYVZWYYZ[`]YXZSRQRVZURWORRLYKOTVUWYUXXVUWUSPLVYZXXUSOQSVVUVUTWXUWLKVVRLVQWZ[XYZZXXVWMMVZWUWUUTTVTYTRWXUOKQNMOOVY\[YVRRRUVLRVXPMJMXKQUTVRVWRJKRRVWXTTUWWUWWXXUPVTRVHORRQQQOUTXUZVLKLLLRTXTPKLMIHLRQ\^ZRUTVUMNQNMNPRWXPLT\ZUVWY[[XRID@GLIHIPVUUPJTOHEFFBHHGNROOKMW[XTSNOUTLSWVRSOOPLPNNVZWMNLMRRNFEOPOKGHLSTTZWTPNPTUSV\]TNONNOPPROQVXMKKKPNGMQRRQOGHOPPTSRNMKLLPRNFKKJVWMO\[OJKIIILMKRSQMKPRROUTTPICDLJNPLLPOKMNMHIKHEPVRPGGPMEFQQGIONKPW[TPQUPMNQNKMPK??CEKIABMTWNNOPQLEJOTRQMIJLHLKGGHFGKNSUSMKHMPRNKGONPWWOEJKJMTVNQPTRRQNMME@GLRV\`]XYWQNIGTU_gdVHIIJIKW]ZXUPOOOEGQPPONONJJMSRNVXSNMNFLQUWWUOOQQQPUYVSLD@NUVSVUMYZVSSXZYVONQVUMJPSTTVTPKIHJLNRUSSQOVVUWWSLMPVZ[[SHLSPMJHMONWWVURIMNLFMPMPVYVTPGA;GTXPMPSQRRPU]\\YVVUVTTXXSUTNOQOMR[]PKORNS]^\^\[WNMSSSQSPDGORNOW]V^[TTVYMTTQLP[``XRIY[Q8FSPMMDEVQJDFUSVXURTTNHHEJSVPJOW^[\[[WTRKMNMEKQWVQPLGKPPMRMHGJKIMLCFQSTRPS[\UKIKNIHNQONRRNONNRQMTVPGJMKNNHGLQUMNXZUOJIMRPKQVVVQPKFNFFRYSFCJOMLJFFHNTTYUNOSVTRVVNIPSROLPXYXXXQNPVWTRTTTMORX]ULOMDKSTK@BV_]PLPPKQYXNNQNPUWRRSRMHMPRX]^^^_WQMGORPY`eca^^UORT[^]_^ZXWSRX[[VU[ce`YWVQV`^ZYY[WOPYZTW]_a\QTURJGLW\YHLPPXXGBMIBKW\ZRUV^[X`_TEZ\\VTPTOUMWZTVUhfSUTajmaXVY[XWURMV[Y[[YXYVYYZYWTVUUXWWNUZ^a[XSOVXVXX]adgg^YYUXXTZ_^VVNSUSVTNZOVYV[^[XWX]^Z`a^_a_WTTRUWUWYVWVZXYVXY[RP[ZWX^_WV[WZ\YOPSSZZVRR[]VNTZZYWY\aba]XUXWUVYYUQSUVRMKRXWYU\\ZYUYYTRSSQMOUWXUVVMKVUYYXXRXWXTORXUXWXVV[YXUUYVWXXSRUUWXUVUVUQPPNQTTQPUXTVOOUXVXWVTXVTUPURSUUSTLNSWUNNLKJILPTUUOWVSTWWUQWSVUWVUOPWTSUTORTSXTSTQNQNQTVTNNKNNOLLMPQRQX[XMEHKIGIOQNNKGJSTUPKQWVWQKGEJIMR\`_WSOSUVOMMNNKIOQMNLMQW\UVYVQTXWOPSVRMNQOMLMQZVLQQPMKJEHIGCEHGILNJLW[UMNPNQW\ZRMJIMIHMLOUZVNNMEFILJLQOQSPPPJKMOPHFMOMLMGFNKMUWPNZa]WXXQG<@JSWVUOGHMLOQSTRLPRSSOGGNGHQPKGJNKKVYVTTOJMNQWVLIRQKOUSKCMPQOSTOMNND=BCGTYQJNRPKKMKOKCLUTRRRKLSSNHCJKHNRTSSRPPJQUOOMKNKEVZTJLLDGRURXZWWVTMHCFJOPPX`baXSOPPKKUXW^^WTPIGDERYXUSPNRQGDHHOORVXVRTLLRXWUQMNKMV]]YROKKHKPQQTNQMGMTSTSMJOMNPRUYRLQKNPKMSNJNQPOONJMKJLLOJIOVYWONRRJIMTWVRNLIIFMRQSSWVPDRRRPPNEGGHMUZXYSE>AFPRUUYXOLJLUWUVVZ\YOMMUXUUSNMQPHKX]TGFTRPUTPV]^XIGPUTPKKBDNKCFJKIQRMMCHPF4MSSNGIXdR8E]XTW^[XSMQR\ZWRIONPLJTYXWZUJJLPHHZ[YY\XTTQORWVUROROPOHHOPGPX]RLQRMMRLOUWONPTWXTOOONLONINSNHFNSRQPQMMSVYYTQTPILRTOPYYRNOOLLOOPMHHJRRTUUPTUSMQRRPLPQQOONT]^UPWYVUURHCKRVRNJLSSTOHLMRVTOMOMMKOWYUOODGX]XTRSY_\VKNNORWUPPQNNQPNTSPJKLMLJUZ^[WSUUQISQR[_]QRTUZWSSZ\\[]\ZTPSWRKQW\^`[WXYY\^[[`a\UVVOLX[W[YZ\ZTKMMUVOHPPHLQY__WILRSRVPOLJEO^daSMP]VSVSKSUU[dfhaYWOXab___YVWTa_VTR\`_[UOXXWXXTSXVZWZXOQW]VWUUYUXXYWUUU[^[XPVYUVV_][YTQSTQPUUXWVUYXZTUWWZVV]\YZVUVVQMSXXVRQSYZYVZ][VZSUNQYWQYXVY\ZRVVWYVZVWUVWRYWXV[_[[[YXYZZZWWVWTUXNUXYWXUVYYWXVRUXQMTTUVXYXTQSRMXVRYWYSPST[ZYVUYW[YYXW[YYTWUWXXVTZMRURPUUXOVNUSPTW[VQOMWXTOKMOTXVSTVYUQOMLOXVTQMLOPRVTUVTSQTTVVXVTTSURONTSPKWWTWSPIXPTXRLPWUQNPSZ\UMIIPUTLINLDHU\\SFFOJJPTQNLIKIGOSTPGJTVUNJNPPKIS]]ZYXVOSOJOSTOOOUOORXWUY[\TVWRSYZWRPKFGNQNLNRVYXMKMTUQSRQNPJDCBEGHBITXTKOKQRV\_^YPLUVTRNFJRPMTTH>MROKRSKCEOUVNNLJGJRRLKMMLIGMQPMLV^``bd^VNPSVTPPNIJPPOT\YUSRLMROBCKLOTQKJKKJLTPLNQUQQSROMCEQSVTVSFFPONKLJ@EMTSRVTQSSOKNMKGNLILMMPTOONKDHQQPOKJICBNOOKGHJNSYYTMJONAIVTRRQHMRWXV^]^[\YTKD@ILSY]ba_YXRKIHJNOPSRPPNKDBELTRQQNRURGGLKLRYXYSVWRMLKJMMKHKLPSVPLJLNNNQRSTQLQPMKOQPKNVPLKOVWSONRPOMW^XJIMNMRXRPMLJJKNOSY[URWVRPPTVXTLJKOMKGRVSSSZYNRUUZXYTIDGMUXYXSRQRUXSS]^\RIHNTWVVVW\ZTOPX`]ZTORVUORUXSORY[UOJ==ITUNIQYYQRQB:DQPNLLGOLHJLISPDU[VQW`d_GS\XFUYTBHLDKSZ_[QDINPMNPUTXWUPMKKGOYRRVVTNNMPQOMMJKJPRNLRSHFQWRKRTTXTMNOIJNSOORSNLLLIKLNMLLADNQOPQRTSU[\VTPTWVVVVVPNK@EOQPOQVXPMHKSTTRRPLJOSRSRSOOQRTSJFNRKKUUPTYVQPTURPRPNNMKMMQQMQLIHKLQMKMVXVSJHWZXTSJQZXRTSWTRVUQOQNQRORPRMONKJJLYcb[TMOVVSUXNU^]QJJNX[TQ[bbZTXZVMJTPU[_[WUWRQS[XTUV[^ZTUTOQ\_]VUSSUVPOPJNUYUPJMU[_b\WXXLOS[XR9@:BPVIKGJPS_cbUVM\jrp^VTWUZ[dggb^VYa\RTWY^]SUWY]XXYVSUYZ`]ZVX]aXXXYZYVXUWVWXYZWQXWWUWW]`\ZYYTTWVXWZXXVZZSQPYNYZ[YWYUZUZVPKTXXYUWTU_aZQMWSPSMYNXVQWXZWZ[VVXTLW[YZWXUWWYVXWWURVXVZ[WVSSXUYZ\]RPTXWWTTTUYVWVXYYXUVTW[[YUOWYOMULLXXPQRUWVQWXYWTUXTSRZYVPRYVWZYXSQTTVXYVMOYTTSU[_UTPSWSTNMPVYXPMKQUYSJORUXZTVOWKRUSRTTTUUQTSVSWVSVUQPOLIIMNRRRLPTRVRSMLUPPIJHTWSJCFIRQOMRROMW^_UJGI@JSVRQLPWUNVVTSPIKSYXWUROJMX\]WYZ[XOHGNRSSQQTWTORWUWY[VRLPTUXVSLHEELRQTUQNOIROMPSWOLOV[[YVLCFBDKOOOTTWXUIKSZYOFNRQSNLECKMKMMJLOORXWPMMTXVVUUUNKRTRJMRSOOMLJKMIGOOV_daVPQSQPNMMJPOFFNUXTZ[LCJPKIEGOQPMKIGOXTMC>GOOLQRPG?@JLKNOPOKRMGIQRGDJTUSWSGHNN@ANMPRQLNJGKEGJNJDIMKJNMNMKADJIE>FKJIOOPOLNRROPRKJNQKLSVXWWV[^[OGDACDKVY^_\YZ[UD>FLRWYXXVNIJMPPRSRQORNBAJPPSTMMTYXQJD9:CGEDGJKQSMLIGKRVT[UTNPRRQNJJKLHRWYYYTQVUNLMPNQUVNJIMNOUUVTOMPPNQQORMKSWMMLGIHLOPQNJLPPYYHIKIILIOWRQMEEHEMQNOR]ZTQTTPRTTSSXTMIQURMTUQQRX^]RIFLRXXVWRMFJRPMFFCFMRWWSPTXUTRKBISSQOWX[WRMOSPNET_a^fj`Y\Y\TFP]YQE>>MKKYZK.9FQRSSVSPRVZSTPJHLQPMMLNQVWUUUTNORVRKIFPUSPRORW[_]UIRQNHPTPGHGEEMOJCJONPONLPQNMILOTXVWNPLORRWXUTLDDFNOKEGNWVQHEKRPKLOLIGFGHKQOPNNJORIDFGKNUOIKQWWXWWSTVTSSQMOPSSURPSUSLGBCIJNSOLDNSX[VNQVYURSRTOMQRSQKJHMNOKLVXQMOMW`_VUURKLNUXVU_`VORQVWQRTbf`UW\WPN[YX\^[^b^WVX^_RLPVZVQW__ZXZ[\ZZYWVVWWWT]_[URSSTUYMVY\VJGR\YQGOI,/@CGB@US`cYUZ]^dcXW]flkkkffeaWYXWTNYUYVWNTZXX]_^VPOUWVWYXXXYXVYUWXXVWUUXZ_]WVVXUUY\\]YVXSYSWXWTSW]a]WW[Z\\XVZVXVZWWYYYYWYSYZWV]^YTNMPRWTWTUTVWXX]]ZVXWTYYVVWQXXYVUVVWUTYVZZYYYWVZXZUSRXYSY_\XUMPTYXYWXVVUQNOVVYYYVVSRLLOUWTWYWWUYMLSVPLTQNMPWXSTTWYWXYXTLTXXUWXUPLTTRRWWSUOVVOQNOLWVSNXUTUTQNPSRQTYUUONSVMVUTTUVWUVVQPSSURRVSWSRIOUVSMTITUMUTQTTURLMNQRRNLLPSXTNUW[___[VJHDEOQORSUX^\OFEMPQTPQSUXQMDJV^c^\[XVXSIHKEMYYTRVWUX[XPMQWRHPWSROH=LOLONSXUPRPMOPLMSXULFMW]]YPIMPQSRPPRVY_ZNFKWXVSPMPQRSGBKOLHLRJORURMJOUVXTOS[SNNQVSPTPMHIJQQSLEFDHW]\UQPT[YQTQKSROMGLOQV[\URRPLIFHNQPNIIRVUNJAFSSGINHJHIEKEGPWVMROPPSSMEGINOQNGHTVMA@IGFHJMLKHGKMLJJNRKJOPNPNJGJLJGJKGHLOKLOOU[YNLPOQTSNKMUYZYY_XMGKKKHOQUY[XRW\ZSMLMOQUXZ[TOKSWTRUVOPXVRNOSVTLBMUWTWRFC?GGGEJNSWWVUVUPPQSQSNFBHJGHGIPTRORWZ\YTVTXWSQLIFJJHLMPOINUXSLRQTTUOQOLOUTQNMMSUTTUTRVVX[_[SPHLPJNQLDLPNLMMF>BQX\UNOTLDDCHOUZUHHQSOQTXWRRWUOQPIGHRTQJIIJQQILSUVVU[\]UPLNUTK?KQOGLSXQSJSWPPVOHWNDU_TPXXZ\SY\VTRNSUO@FGDFHCHOPONMKPOQTXVTPRQLHLQHKSSRPVXTUURNLSPU[^\SOPUWXXUJPW[\[[VUUIEJSWWMKNQUWWUQKLOONOSVZ[UNMNLHNWXWTWZYUQOLKQTRJKGLMJJKQSPKAAKQSWIIFIOOLLJMNRRKJOLT\YRQSV[YWWNTVSPSXZQQPVULGNYUOPOHHGMPUPKOQRQMFLNOOTUUZ\YUQRPPPRUQNRPQRQNPPQOQTGHT[`^TRNNUXXYVPYXPVXWPTZ[\]WT\^YRVZ]]XQUY^\WWZ`c]RKSUPRLLRQWXSRS]a\WT[cd[JUYQBRce`YWLKETTT>(.!RUXMVZa^V[^W[_hknneombZWTUUTZWTYWRRWY[__ZVLPQTVUWVVW[VWVSSWXVX]\X[dh`TVWTYUYWVWVUWVWXXXXTSZ`c_XZ_`WVWVYXWUZQT_]YXYWYXWZXUOLLRWYWXYYXYZTVY^aZYYWYUOXXZXZZZWUSSRQRXWVY]ZTUY]a\WQX^\U`a[RLPRQNVX\[YWTPLMQRTURLLTUTTVUXXVW\\YRRRSUTSTVQKRSPRSUXYSQTWRPWUTLRYYOOLVVUVUVVRVJKOMRTOVVU[\USWOPSVRPKQUTWVUWSSSSRRSRSSSRLRTRPSUUTLOMLOLTRRVTSSQNTVTTUPRZWTSPLGKMTRNPTZ]\YUIFLG;GPNQRNY^`\OLMMIINKHNSSSGPVXVTOSTQSVLNNGGRUTSQMRZ^[UKKWUMJMKPURQVSGJIGQRMTWYVRJJPWQIJMTZ]YOMJIKPJJIIEHMQOSY[VWUSNMNSSOJMPOFINJGKQTNNJJNLMMOQWWRPROJNKLLPSSSTVSTUNMOOQSPNYXOMONUWSL@COHKR[]ZZTOGEJLICEFFGHMQMMSWUORRNOSSSPLOUWQHDKMTSMLLFIRWWSGCNOKJGIMONGJSORNQRMMOPRPHMLKNQQKIJIKKIBAKMLGMJFNPPPONNLMQMLLTY[Z_`VPQUWTOPTWZ]]XXWYXRQPQLMORUUOGHMLKOQJOSSRSRNQOLEMUNFPMGCISXOIKKGLKGGJRQMNUZZXSOKKLHKJQNOPNPX[XVSUWWMPRQPNJHKOROKT_`XINRPTWTSRRPSSSKOTVVPOSUUVZUW][VQNSQNOMGGUXSRUSSMIT\^\OMONOOLHHKPUJFQTPOQWXOIROHSWRLIILMJQRMOSNUXZUOSX[\XMELMUQLLRMCCPUQE:QTITXVSQIKS]C9GI:]ZSUSNOP\b[FWZUNNLSVTXSQXXTKJSVQRWYPHOQKELRKJNPQOOJDLNGFRYXOHMKFGIOGBJZ\YUWWWRNRY\]RHCQWSOQPRTRMNLNNQVWTNLIELQRIMU[]\YOOQOLHMSRROLGLRSOKKMMIOTOD@?KRNDAIMQQLRSJLVTINRVZWXVQTVUV^ec`WUY[YVSUNLLKIKLLVVQJNSPIHHMNINQOU[__ZTPPPSSUVPMNPILLIRW[XO@BY_daXVMW]_]_^TSQMPVWTOSX^^^Y\[SSX][PMNSUSZ]^YR\\YSRXZYSTVU[^ZJIR\[YZWYZWORWYTab_XWYWVEK]YJ21B@\NSMV`]SUWUXVQYb_b^ljd^[_`XV^acc^YTYV]a[ZTTZXZYUXVVUPTVTY^`VSYZY]ae]UQPPQVYZXZVTWVZZZVUQSRUXYVVVYSOSUVTSXWZZVWRXWYZWY\WVQSXW_]YW\]\ZWUVYYSSWWZ[\VYWVZcc[VZYYVXXXUQWZYYZY[]\XY_`\TULTMTVWYKUVVUPQRKLROTWTXWOSUTOTWYZ[VXTNXKPSUVXVYRMLQUZUVUUY[]WUUYVRWWYQLQWYOTXYXRONPSMRTQXVUTWPRVTWTWWVNJSSUWUWPVMSURNOQRPRQVRNPRVTSJLJORPQKPSPQSVWSQUUPOOPVTRQOHKSVTRJLNRSRPMGKHHQXWSMDO[`YSTVOGAFGGILUTLNPIDJS[ULMMOOKKIKHHGCGPXYZWOLSRPPGKOUXWXQFBEFJKJLRRPOOOX^VHJFGRZTPSRNKOJJIILIELPW``[WVPLNRW[TPQSVRSTPMQTSVPJKNPHJOVZ[ZTMJMQTQOPWUUSMRYXTLKOOGGJRSPNKNSXRLGHKKIRTVZ][UTMHEGIKKHCCNQPOOONHJPUTOIDGJRUUSQNINRUJ?EBAKSUPEAEEDGLMQTWKEOVRNGJMOMNMLC@CHKKMHLKLMLPJSPAF,(11SSORVTUS\a\TTXX[hif`]accbTOZada^]UYTUXZPPUUXXVQKSUVPTYYXY_^TXXZZ[^_^XLOUVUXYVVXWZWXWYVUZUOSZWWWYSOPLVWVXTYVYVVWZUWZac\UVXZZ]ZUVXYWVZZX]\TNNZWZZVVXYW^aa\ZZXXZZVWWUXZ[_ZYVWVX[[VTUYYVWV[XPQTTYMOWYRYWTROXNNTSQXTPYXWUPPMVRYNPUVWYWVQTTYX[XXUYY]]YSRTQNUWVQRWUPTXX]YUVTXSOKTVXXWPNSXTVWW[WVWTVTMTWRLPNLVJNVSWPOVUWMLRUSVPNONLLKVJJORY\XTSUVSHLSSQOFDMRWZXUPMKKKE?DDCHLNTTQSTZXOCLQQF?GINMMMSROKJMW`b^QKSUSPMDBKNIITYRWVTNRXYYVVSRUUTSLFGFGFDFKRV[[TTX[UGLJEMPQPX_\XPNEEJQOKMLKRZ[VLKQSPPSWSOKPUSQIFLSUQOPVWSJGQZ]\PEGNQRRQMKJQTSNNXXKGIJOKEJQQTUUWZ[`[OLMKQVTPW]\WRNHD@IOMPRWSRMMLEKPHEPPPHC@FNSTPKJJNOQPLMKCIUXSNLIBDEIHKOQPCEPQJLMNJPUVUSQNNIGDKNPQQJNQLPNLBEEFFGMI=@JPNDBPSU]a_\[VMLFEMKNNFGQZckg[QPCHQZ[WMJLJHGKOIDCHIKUUSMKMLRWTJEPVSKFLRSMHGHJTQMHKUQPKLTVUPLPPNPMEGNQOGCDIOPSQROLJKPUTXXVQLCEPXWYXSQRONUSVTRPPSSONPROROMRXYVWUQVXYYWTPNMNOXWNNXZ[XSNRTXSLJMRUNPVUU[[XNNQUZUTSQPXYQZ_YOLSXWMOQVVPJOSTNPRVQUVUQMHOQOUTWPRSMJPSSPNPUWVZidLGPRWYJEOGEBJCSZ[aaYG>LURIJWTLIHKMOWZXTQQLILJDHMRMBITWXZYRMTUUNNOOMOHOVTMJPIMRTQSTNJRSWZZOMOMLMQQT\ZLAKVWVRIDPXWSRPNQQNEAMU^b\RSPTVUPQUZXRROJMOQTYYRQQMJQOJEGJJB=AIRRUZYSMH?BHNQOMKIMLPPLUUPMMOUZ]YOLNRZWOJNNSRQNPMJJFJMPUQLNEDV`b^VLPONIOQNNUVWUSIIJV^^^\Z[ab[X`cbZGKLKV[WZXMBJMNQ\`SKWVTRUSUUNILTY]Y]`^QOTWWTUPZ][TSTTWVUUUI?FXNEC;FS^_OTTBA@5>QeUUVR\SSQXYTVPV^kh]WW]`[WYUSTWYWVWUYZZYSTWVXVYWUVVXKSSXUVSXVXWVXW]deZXVXXUUZVWZ[XTTXUTVXWTXVVTVWRTYUUVWV[VWYWTPUWXZ[_\]\ZX]\WVURVVZXWWYYZZXTZYUYY[XY\a`]\\ac_ZVZXWWVZZWVYX\]``[YYYWUQSXUXUPNYPUWXUNVLSQMNXXWVTUTVYWWNWWXUQXXYYXYULMVUXXZXXZ][[[YVRYUWRTQRMKOYQXXY[UMQUTVRUSW\TXSWVVUXTUSRTWTUMPTUQQNQSQWXVOJLUSWROQWUSSQVPRJRTWSUUZ_YWUUUWRPTUTOOPNMPNNOQIERUQNNQMQROLNOKMMLECOTRJKSOLNOMSVRJKGQY]XQORTUWYOEQVNER[YTQGDGRY]]TPMRQHC@FEC@HJFELX]WPR]_XMNPLKOMNPWXVVQOLGJJKTRLJOWPDJTVUOMPKJCJNRNELVTNJKPTQKGIPSIMMGKPWXMLMNPOLQQRXVPIHDIIHGILPWXVX]`bVMOPUWVUTSONMKLKEKOSUWXZRONEFGKMQQTQUNNKRTXXXQNNLIPXUNGHNSSQRNNHDINKDDMNJNTUOPLFS[XSSVSNONJHLPVVTVSRMKEFMOKLNNQOMIHGHORTSW_^YTODOKEFKNJHOTXch`W[WMLUXZTQPQQPJJSKDLFCMKLFIILPSSJEDJUWOLQQSPJEONMKKMPSXSOIKTTUVWRUTNMNNMUVXPLJKPUVSQQSTSPQPNQSWURRSVWSTSOKTZY[YUTTRI>DNSXZTRKNMQOLSTPRW[WKLTYVVST]ab\U[`\YWPTMLOPX\ZWUVOOQGRYWX]UQYYNN[ZSJT]\UT\\TRX[[TOYZVSSTOSKDHKRXW\TV\TMTZ\TMHOQJFhVDF>7ENEEZ_MKJP[^QHRI:ADEIIQ\THGHGGIKNICPRQLKLFEJQPMLTZ\XXZRPXUTOF>ITSRWWSNICLRRQNH??IJGJIMJGHLPNFBJTWUJJPVXVUQJKURSXTUPMMNPSQOLIKRTWTOHKPXYUOKPPKMPONRWRPMKTWUYXROHKSV\WOPNS][OFRY[[`^XY^`^\`eg`UWWMPQPZ][^XRLIX`]Z_]SOVY^^XOPQ[[VQV[XQTUQSSU\XSMOOMLOMRXSMTSUTMNW]dg]OKDCMXT[_bkDDLUXcieXTKRMWVOXWLQW\][W[WQMMWYPTRWVTUR[PX][^[YSUTOTOQWWXRSRUYY[^cd^W\\TVYXYYVZZSQWVXVQNMRXZXVWVXVWYVNW[XWZYVXWWXTVX__XY[YXWVZXWWXXVQTVOWLYVZUXWYUVWW\babegc\URWXYWX\ZYXVZUYXWQWYUYYUWXUSQNSXUWVSOPNRUVUTMOQURPVXVSPNSSQWUYVSQRVQYLRSYSZZYVUYVXXUVYYWTVUOOPTY]bbZUXQXVWUUQSSWUWYTSUUNLTWTTSUXRQURQVRURTYWQPKPUTWSTVVSSQUSROSRSSVUSTRTVVSWTVNUVQX[WKMLNPVOHKSNKNOQRUUKFKEFNNKOWVOJNTSNSTRMNPTNKSWXTMJPUUYZVOQVRMSXZRIFGFJY]\PHTXYUKJMNIHMLKJRYYPJLY_YROKJJLNQNHEKPRSPNNOVWUSOQYVLHMRSTUSIFDGNPJLTVTHDEMNOKIQNIHEIJJNPROKPMPOMMHFRRRPMGDNME=:JNNPOUW\]XUSUSX\WLCLTPQOKNORTVXYVNOMPTSURSSRRTUVQQR[XSMTLDNSWSOE?DNROMQMEPUWQMMOQQKMOQMMU]XURPONSVNKLIHFU]\WMEA@LLIIIRYYWPLJRROPRPU^`\OHNZVF=FOLQTQTad\PSSMQZZSPMLTYYOIMHNOGIQTOOOLLJRPKKMIRXQSY[VPMOTUWXRLEJNUQPOSVSRQQPNLLRPKNMMQPNJIQVRSRUVWWUPAAIOQROMRROOQNNU\\UOQLNONKORPRWZSJDJMORPJMPTXQJIRRQSVXZ[RNQW]VSU[XPJNLSVVTQINXYUR[YWSVTSPSONICAHRQKQXVMMSVUQIPVPTXUUYTQRQOW[][USNJJSVXSLGONMUK%=BMRN@1Y^[PRX]ZRJRQMLJHCJW\YJ>?HFEIKDGNNLNSSXTMNMRQMTURKOGIPSNQOJGRJFRWSH?DIIIFHJHDHPTOPU^_b_XPKFLUSOGFOUSRLGEJHABNTTUOIEEIGHU^ZPLJGILPIPUVJGGLQOTXVVKNQQRSKEEJTTPJHFHOUQKHQXY]ZSPRUPQTUMGIFJNMKJCDGPSKKJFHIPWXSMJLILUVTXYUUURPOSUZZVMKTX_^XVVW\\RNZ]YdhcUNRU\^Y^`^XWWRQQOPW]_bWVQSaace`ZZ\[]`XUVV\]XKFV]VPJHPZ^aXMRXTPRPKNVPLQVY^WLNVX_TD6BJXZVRSacd838CH@LW^caYT[_VQQTNKXXcc^_[]`[QTVYPU\YWXXUWVYa[VUPUWWYVXUZZVYYVTRX\\^]ZVVUUTXZ[YYYRLRYVYVPLNMTUY\_]WSWVYWUYWUZWVWYWV]^ZYXWVVVVUYWWVUYVVWWSYZ[XTOWVWXXZWW[\YZbaa_XSWTRX`c`\VTX[UWYUUXUY^YYTVQLSTYYWPRYYXYWZ^WTWYTVPMOTSPXYTSPKYSOJNPSPLPPRVVXVXWVVYXVRPQNQRVTNUQUU_^XPTWWWX[XTNRWWUWVVTUVVTRNOSVPVUWLPSTOLSRTUPJWINUWTSMOUVTWQOLJOONTRJVRTQMTVUJZYZYWSRVTONKGLPRJJNJHOSORVVRNQPPROLRPWSORUTPEMVXXXXXXSKIMVVZTLNQRPSXYRNVUPNTXTONTWYXTOPKLLPMFDEMTQOPW[WNLIIPSLMKMLMLLMQNJGOSNTSLKLJJHNY[\ZUTOPQPKBIOILNNPSXUSVPHKLIKMQTQMLQVUPGMM@ALONRPMMOTPLPRNGEGBEP^_ZUQNPXVLGLRRMPRQKNOOY\WSRPQTURKHSSVZ]\SOPSRLKNNMNSVUSPGGKHEGSRJJNPRNMPTRE;KOQJSXVLOLOQXWZRPSNKTbd\NJI@JNLJJLSXXXTMJNDNTSRX_[YRSMIHOQSQWQMV_ZUVSOSXXMBBJP[VJCEFRSGILNQQSTLMMJGLLMNOMLVWQGMQVRTSSQHIPMPTW[ZTQTUVTSOMJONLLPRLCIORQMLOOTRSK9?KNUVXRMKJQRQRTXXWTNFHSRLMVURV\ZRRUUTXXVQLJMLOOPRPY`caYPMNPTQLNPVPONQTWVTTPKUWPOY_XNMUQDJNKEHKLORYY[WSWTQSVWPPJOWZ^bc^Y[[YUU`ZVTVXTSTVGFWXSX`DIHN^`YKU``GKRPD@OQPOSTFKW][PPMSTPJMPJKNOLOOTZZYTPOKKMOLJDBGMJKOOJGOHDHSRLDFIJGGKMLLMTRSTWYX[\YWKDJPVTMLKKOQPOJOMG?CONTUNJIJLCEQTZWXUPNH@JRPIAFOTPLUYYQMMIRUNILLSUQLNUSTURL@JNUPUWUNNMPYUMFGKQPLJLQMGHLLKIIEHHJRUSSPPNFGQ[\XYUNJKORTWUMIHFPVWZYSMORT\`efh^UYRY^YQW[[WVTRRWZRTR[afb]Y_d__[OQYYY\[RRXXXVWOJTWPQPQQR\YXYWYXSRIU\[\aea_T>HPTVPHEIYdhZNMbhWMWTO\L5KWZ\ZWU[\USWRVVUUejddc\VYYXUW^YXV\]^dfb^ZSSLRRSVVWWVVZWUXXT]ZXUXWXVVVUTUZ]YSYLW\[YXVUWZVUWWXVSSMVXZWXXVVTWXXXV^^XWVV^^\]XXSUVZRSUWYXYZ\\ZVZZWVQOOX[XV_gjfd\XYSOSZ\ZXZXVXVVYWYYZZ]WUUWQOQRVYWQY`d^VWWXXYWXYVVUUXXWPMRUUVRVTUSPKRVYWRTQOMMRQPRURNPUUMMOMOQPNTZ]ZTRRPQX[]UQQWTUWWTSUUSUPPLOSVUWQRVUUSSQTVUSQLLQUVRVRQSTWVTVURSTWUQPPRTVNQUSKJRPVX\[TRMDKOOSTTQQRQFLUYY[^ZTWWVRLMQQRTOLKLGLU[_][XZWSHBEACGJMIKMLOPONFIKPOOJLRQVYVMHMPPRXWRKKIQSNLRTQUSOOQLIMNPINSRUUUXWQLJMNLMPQRSSTLJEMQZVSORI?GIR\\XX[[ZOXZ_aehf`]_XVZZXSMPUTQPPMRSZ`b[^]X\^ZNGUY\\YVU\^ZTRLKTVRLNPOMPS[`\_XQNPU_ZY]ac]UKRNSYUSJARccZNHPWK ,.SbD#]WVYWPVZcb[KLNXWbme]_[SYWYVTWUOVY\ehhdd`\VRVVXUWZ\YVTQVXWYaaXUVTZbc`^[XXWUWSTY^[VRU][YYYZXTPOTUWXYWWWWPWLQRVY``XXXXUWVVYWQNVXNOUQPVYWWYWYXYSTPSX]\ZUYehga\VWYVWYYZXW[[YYUUZ]YZYRWXVVUVXTVTPRWYZYTVWVVUUWWVXTUZZVUVWVYVYWVWWYVOTVWSRNLMMMWLTVYUVXWWQOXORSWX`_WUSQRQVTWXVVTRUXVWXXTRUWRNNOUVUUVVXTUMKRUVTSVWYXTONLNURNUPVWWYSMSVQPRTUUNNQVLRPXX\_]TLBKORUUVOKRSMLUWTVTTTUXXSQVXNEHOKECJT[]ZW[WWY[VLGLHNUXVUWZUIOMOVXXQLLPQSQLSYWUXVQTTOMMOQRSVZXRPLGJVZ[PGIOONI>AJRPQOOOQLHDIJMLJPMMKLTOEDINQSROVZXTRTTUVWUUPPUTKGSOOTTVURNRPQSRORODNROLPMJHJLNNPKKOUTPMMKLOMIKNMQQITVPT]^VMOMFIJKJQUNMKIGEFHNNRORPMIKMRUQNPHKNMKKJHILONMLNKIMKFJNUWZVMSV[^^VKIJKHKPVUY[ZVOLRNFDHMOICOKBALSSVRNNKGIJELNQPOUXY`b_\XRIMTSNQVUQFALRRSNHMTTPSQIFQVWTPHGNOSW[[ZXWQKORVUXVUUWSMPGOX[]_[QHJPVQNQNNTURINZXSU]ZXUOONNSVYSUTVYYYUPPSMQUXXSKMKPVWSRPTTZ\XPQIKJNPQYaYOV_][][YZ^YNHIMSTMRUJQS]`[\PNPLV^`SCSZYVE/=39KQVXQIOPMNNQRRMLGBDAGPOSWPJLIA;DHDHKOTSIFLRVPHAKPVRLJONNNMQQQNRZZOCHQMOLCEFFHLLNQKLKRVTSMGEKQQJMKMNHDIGBLRQRUY`ba[[QJJOOSSJDE?@FGJNOQQSTQOOMHINMIHJNPNOIGRSNMNNIGEGKGQWUKNPQPSXWVVVXWSMGMRTTQNLLNPPQRQOKDIT\[WOKHJKQTNS^b_^[VTONTWRT]aa[VWVUWWWTSRV]^WSPRUVRLWZXYWZYUWYW[XRQSPLUZWYVNNPPNRSVU[XSRPIEHNV[YSMQWQNOQVYZ^QSRLU]N?AOLTZG?-FB9ZhVJTXacfdbWY`dbaXTOQUTWLORYb`\XVZVZ^_VPNVUXXVWVXXTW[YXVUVTW\\\VVWVSSUXUWWTQYZWW\XXWYWVU]][YWSXXYVYUTSVXTNPTW^\^ae`VSVZY^\XVYYWYYZXXZXXZYYUZPWVWTYWVZ[dg`SOSYVURTXTWTQ[ZZXZZZUQRVUPMVYYVXMXNQKPTYWUWSXVTRYUVXWUUYWUWUUXX[ZW\a_VTSUUYUUUSMVUWXRYXTWWV[\WYVWYVUTWPPTUMXKLKKOXRSRQSVVVLTKWTTPWXXVTVUVIMVPQPOQMQUVWRQMWPWUMNLOOQSTPJTUVRRTRTWOUUW\WPR\_WHMNOQZ]VQQSVTWQNRUQCCFEMSQNOOLJJOV]^WOQYXUQMGIPQTPRVSKNQMNKMORPJPQJLRXZSPPMLRVPLHIS[[TOLLM@FPNKGLLOQRTVRRMRTRLJKGEOUROMOQQPJNTQIINQTWYXRNJMSPPQOSSSURPLMRQPUTTUUOIJOUXXMFINLIIQUTVODFNPGKPNGGJNSUVPNKJIEDIOUXVOOJIO[^[WXWXVTOMJJSY^\UNOJKKJJMRTRRPKMOMMRUXSKHJNNRSQK@?GONONJNSSRQRTYVVUOMNPWWTOKQQONOMHJLQMGHRRNGHIKW]]YRF>@IKHDHKIKZ^VMSOLJKQSVYYXSKNUVOHJLHCKONIPWSKJJKRURMIDEIJKPVUQPMORKNMRX[SPJCBMRQLPODJVZTQKMTTTVZYWSJGKONJLQQOJJRQKHLJLQRQSTOMMPW[YXWUNMJKLPX]^YTRJIJNU[Z]`[RIJQTYSTUQUWUHDTVPMNONHLLQURNOJQTTPOVVOHMOQXSOKMMOSTQLHMV[\`aYPJEHHDGZaYLLUXOMSTTPMJOPNLJMTXUMQT][SLTQ@P_aY?LYce[FJPB:;KOIJSWWVSPORGGG?@JINOSRRQTMD=@FGGLQRPMMJOUWSKKKMPOPQOORQRVVMBHNMFMRLHPSQMGGLOQNONIHHHFRTUPTKERTIMLNRMDIJKJNJMY\`_]WRSOMMFD;;HNKIKKNSUTORTPUTSRSMRSPNL?CMPPIKKLLLOPNOUVVUUWYVSTWXUTORODKPOKJOPPLGIPQRUTUWY`aXQGJJBQRRT\]_WXXXTNU]\\`dgb_^RMSY][XZ_dcb^XVRRPSY]VUZZ[[YRSYVSZWYSRXUSOJOXZWVUTMTRTPOOKNVab\QS^`XRQJLR\XW]eaTR?A@JMQ[[[>506>j`RQKYa_TSX^]]c]^Z[`c\SW\UT]cb[ZUYX`a^[VVXVZXWWYYUVYWZY[YYTRWTZYUQYOXYXVZXZ[XZVTVSONQZW^ggb[Y\[VWVYUVUYVWQMTYWW[ZXVWY]c^YZXXX[Z^\\\`b^VMXRPXVZZXZWYXZgj`WXYYXVSYWXORWWYRX\XVYZ\SPNTWUSQPKYPQRMOTWYTTRRVSPVRTVVUZWLTTWVVWWXY]YUMQSRRMRWXWZYPPVYSKUSKRXYUUTVWWTVSLPXVQPRPKLLQNRPKRVTPLNUWTUWYVXVVWVTLWKUSPQPKNSPUTLMKSMSRNSSQNTVSVVUSVTURUVQVNHSTONSXVNLNOMMQQLLORTQKJOSSJHKMRXTNQPOPKHOTY\YTY[VUMEIOTVWUSNQPQMRSIHJCNXVSRX]]XUQKMRXXSIHTbb[SNNKDIPUVTSOQQLTYWPIRZYSILRVXSHESYTUUPKK@?AADKQPSNNIKW[SIHPSRPNMOTVSQQRSRSOJKQUNILSUQKOPOQRQNPVSMMQLD?>@FJIIHJCKQNLIILKNLKHRWWSUVRRTRSNJKMTVWQQWYWRNFMYXPPPRUXUEDKPOGFMTV[[XRHEPVWVQLLNMPGJRUOSOIJFGPXYXOIIIJIIDFKGCFMRSQJHISQUSPPPKHLOSPJOLTZZPKLFDMNRMPVXXQMFINQPHECJOLLNVXXSMOKKOPNJEGLOPLNSPTURNNSTOTWWZWIAIQXZVSHQQNMPKHHPVWVTNJDBMUMEFKJLPNMMOVTPPUTPRPLLKJOYYXXWQOOSQPTUWRSUQGDMSQTYYWTKFHU]ZRQJJNMHKPRTQLGJPUSOPMMNURPNKPXVQRNLNORQLKORSUVNHOY[VXVROPKLPNKKNHNUUJLKLPPKHJR[VJPVRE=>CHG?;DIPRQMONOUXTSPRYWQSNFMTTOGHMKMMTSOSQVVUPPXUOPNMRONIJF=GLLQSTRRLHFGNUWZ]]Z[WPGS[ZWWXWRSXRQYaaahomkhcb_a]YNS\a`[[]_ab`UQVURRX^`VSX[RSSYWMLT\]ZYY][[XQRPDLWZROOUPFIORXX\WU]a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`ZG5FJUUUT=DQQJIKMY]UPOT^XVJBJTZ\WMKMMPYZOJDEJEHNILOQRPNMBCJQPPRVRRSF;FJMQQOOX]YUURTRPQTUWTIFIMORSRMDIRWTRVYYWSNFFNHFIRQRWZSPTPLNPTXYX\YTSVXSDHMOROMUVJFEA=GNRRLMQTTLHKSZOJJU\VSWULMLAJUXVTRPUXW]YPKLEGMJFKNQMHEFKSWY\SKR[cc]UPPRQQTZ\_ed]TV]dijmkbXTYWZa[VT^cgc^_]UNPQPOKKKEQVUVTW]YUVUQJKTX\^]YYSRQQPSV]]^\W[WPRQOOTRNW__UPV]XY[VXWYYT@N[]VQIDKHK>= OSViabhegmd[YRONQR\ee_ZT\bfa\WSLLQQUWTUX[XXSV\ad^SUXWVYXac`[Z^_^VQMQX\\YYY[ZYZYWXUKMTYXWOY[XZ\``bbVYWY\]ZXXYYSVWYZWWWYXWVVZSTZRXWZZRVWWTTYWTXXVVYZ\YYZU_c]PRWWX^\WPO[_]^[SVMV][ZZUXZVUWXXSVVVVQSTTWWUKQTQNQRQSKYSNVSRUYUUPPUWXSTLPPWQVUYVSX\UXZ^]TWTLNRRUV^dd^YQSYVWTVXTUUUWWSSUVSVORWVNTVRSZc_UWMSZVWWQUTSUUTPSUVUOPPOSWUUSNNTPLLVRQLRPPQLV]OU[`\Z]ab`ZPLPWVNBEPUZWNFHORMMPRLOVTNLROMLIJTXUPJKJEDFFOTQKOPOPPW\[QHMSVX\YVUXabbaXHIQUUSRTQGIRYRLHPUUVVVURMUYVSRNKKOUM:AOTVVYWWSRQLCFGLLJMJHGJNLMJEOUUKINRWSMMTXUVZXQKMIC>BFHNW][KMSWSMOUVRPL?=HJSZZQPNIDIPQSONJJG@@@@FGNPOMJMPWZ\YSQNEDJILSYSLD@AINLHHHNOKJNU\XTRNMHFEITVQQQKGEC@AGGKVXTUTQSYYXWQLUTUSKGIHBGHJJBIRTQTRUJ>MW[]\Z]XSOPPKGOTVXQUPHDBMVWTRTKDKQMLMKJMUURLKMRTMKD<@LPKGHKMMOPOPQOONQMSTRLLOMONOUUOMIMSWTQOTUPOOPOOQPPPJPURNOSWSPMKHHLQQPLORNRSLLPSQROONMIJJRWXQPROSVNFFHHDIOQQRURQIMRQFFJPUXRMNPOXTTNJHDNRYXRKNQUQRMEIRRQQQMHLPQXXWSNJGJFNVTTTTUTMPSUWRZYUPMNSQQOTXXIFIPNQSUVP@FOPPIDHISSZZ\ZYOQNC8DQVYVXX[\e`TTRM@UWPQMOSUWXRNNPQPOSOHILRNMLOMNPPMRVWUPOIBHKRONNY`ZORVSSQNPVa`XIONJGQVXQMT\ZSQQOOKHIUWXTT[ZVVYUPLKOVTPOORVYZY_eaXQOKPODGOTVTLCHOSUTLECOQQJHCGKMRUSV][WUTPHMRRLTPPOSUUSLF:CHNRPLKNNRTVVZYVRMRUNMOQOUYVWTMJGMVWWURMPOHEGIMFDFEOOQKDFIJIIMJHJNQQPQTXWQRQKHKJMICEINOFNQHELMMNTZYMMSY[YTPLMJJH@@GVWWWNLIMMOW[WUYWQTWTNKLIMPNNKPQQRQLIIFLPOJOTQROMJOURKKQQRRRSUTPUQQRRMJD>KQSQNKJDBCGHLNUUQOPONQSRRSUWTLNS^_XXTMHPTMCJTWSOOLLGEHO\[RNPSYXQNRRMC>JPNNPUSORRMIHEJUZXKRZWRVZZWRLMRW[XVZYRSUWNPNSYWSMQSSSWWTTOHJMUWXQURKOQVUWXXSSVRNU[]]WNIJJFEGIKNW_a]QGQSUUPRZedXXRQ_UQH@GLNJIGFR]_^USRSOIBEMRLINRSPLLJNOORVSLLTTPMPWUPPMKMQRHDCEFMVRNLNUZWONMLGS[WZ_]UTWRPORRTRMMUWRPNJDFGNSUPNTXXVVSUTPFHTUOHIKJQSTX`ge]VOIJABFKTWRNJJIUWRFALMLKD=CNQTRQUVVVWSPKLMOJMVQJFIIGLLMLGD<@ORLELOOMPQKPWY\ZPGALNHMOVZ[\Z[_^SNYeebYSW\\\QLKS[\\[[ZUSRXRT[__]\VGHGNVWYXXVVVVXW_ed][X[\[[]ZTVSFLSRWWWTU\[WVYYU[ZXTRQUYU`^WVXUPGNPFH98GMA@Pa_B8;(abWa_`a^_]XX_c[XVWU`b][W^fe_ZXYUYVWOUQXZ`d`YTQVYWXTV\[WWTYZ\[VY\bdaYY\ZXWYUTY\ZUVTSUUSPMTWYWTXUSSY\\\WWVZTNTVZ_\WVZUSRYYTTWZXY`_ZYTTUXWZXQRPUX_[U^a_[VXQTVWZPTWW\^ZWSYXXZWZYYUVSV\[TYUMPSXWRLPXXVVURYXRSWUTTVXVSPTUUTRWTLKNSSRPPUVWYVWVWWYWUVWWQRUYVWXVTRTVTPRTTJPTUXWTUWXUKNWTTSNRWTSUTVUUSORVVZ[YWLJRVSXZXVPQTVNNSVYTONSRQJNNTSSWUSRSPVFMUWZ\WOOQTTTT[[SVXOEKPSQPPTSRRKRWY][QONFJS\^]ZWSTLJICHLMJNVXYZ`\TMQPFKRRPMLPSRSSMIEGJKNQSQMJPUXUY]ZUJQYXTPNNTWPNJJOPPTPMMRQMMHGOOPRKCNRSNMMONRXQMUUPLILE=FPTPOPOLOVTMJPVYTKIMQLHNPOINKIKKKNPPJEGNNJGMQRRPNPONHISVPHLKHJJKHFFPROJGJXYTOSWSKCGSX^ZWROHEMRTV^YRLNKHFNOMMNECFGBAKOQPPUTOGJJJJINTPJKNNJILPMKKMNQMOSQC?BDCHUWRMTZWZVIFJMJKG;8KRTPHNOOPHJTWPNTRNQXWROONFKMNKIRTWOKLQOMOONQVVSSSLIOVXXZZVPLUWQQVTOJIIF?DNNPPIJIIBH[TABMMLLNOQMMWYSLQURNPXUTRMGELSSPOTVWVVWRKFLQSQPSQQQOOPTXZWVQOQTIQVMGHMLIDGHJOMIGJIB:@INQTWTMNIGKSTRPOPUYVGOOLUWLJXZP@DMQJHSTTRRTSSVYYXUWVPIPSRKIKKLQYWRLJBGRRQVTVV]ZMGFMXYQKJGFJJILPUZTUWVRLFGJGMU[YZ[VWYVTQSQOQPOTUNKIKTRMKGGLSKCMULDJHHNTYMHMUVWZR\XXWTLDDFNIIU^YN@`b]]YEJTHAKD?4?KSNMRTM?=KNPURRLHLPJLNPUXYSYRMFGLPLFHJMJIQNIQWSICFIPPPNTSRV[YQPLLMNNSVTYXTIIOLKSPLHGOUPHKNQYZZWSH@GJMOSTOQYTPPIIPXZYYVWY[ZUNMQRSNMKOMLINCCKLFXUVZN?FPec?RT7SQOFQYZ^TPSTNQOUY]^WSP_\VTUXU[\ULLWcf[WSVW]^ZVSWXUWUXWZ`XVSVWVXUWUX]baXSSUW`b_\YXYW[[XUNYYLUVZVRXVWZWVVV[WXYZPLY[VZYUW[WTXY[YVZ[ZWYXYVUSVX^^\WVVWVVZZUWV]\VWZ]Z[_]Y[YTX^^\VVXZZYXPXVV[UQLOPUTVVOPYUXVXUWUXVWVYWZWXUVVTVVQSTOMRTQSOLPXWMQWXVUYXVTOTWQRTVXNX[YQKOSNQ\_YVQQXVUSRPXXSJOVTVWWUXRRQJLORUWSNOUSQQTUUQSWUWSWSQSRURNSUSQRRVTUUQPJUVRSUWTPPZ_XRQONQONPZZUOHOUUPMNOSSRIMMQPX^]TLOUZ_ee_W[^[QQSUQD@CGIS[^]XPJKH>CFJOSRTXTLKOPNPQIINKOJFMRPRURLHACHJGLNRVRMILWXTNGINVSOMMNMQSOMRRSMJNRRLJNNLOPSTMIJLQVTSQPPNKLNLLL\TCKNKGLMKOOQTSQQQNVZXTOONMHFIW\\YTQSUNGEHKLG=?@BA?KOLMMHCCKIJORTUSQWY^^YRKMSTRLHMVYYUNIFPMIHNPTOJHHIKKMHFKNKKLJKPRSVYWQPUQMQUXVPQUXWUWZRJHFIJMJIIOUZa[XSKDJMJGC>AHOUZ\RRTWUPQPNEJWYWYYPFBLORUTRTX\YQJEOQSPMRQLKONKLORUUUTRJKRWQJQSLGEKOQMPPSSLEBGLLSVTOJIIIEJNTVWTUYWQNPQSSLJVZVPLPRNOSUTNJMOKPTUUYVSMDMUUUQWVVTWZYVMINQNRQPJRYWGBFOUSKIKMLNPPQSVXVPQWUQMNNGGKMSZZUSSRTUWPNOQSTRKD=EKCGBJLBGLNL<9LMQTTXYOKPPLJIMVWSTTKLQVVWSXTTNPVVQTVMFLQPSUMRVURNOMLLRRSQQPRUZZTLOSSVTPJMMMLJDDLUTSLJNONFGMMTWWYa]VNLPY\[YTPZa`^WWVUTTTSPNRPRNK?EMKC?JUYNKLGBINQSRQNPTST\XJCKJLMNOMGGKQVUVWSXUYUUSRV^]XODB?LURJRVUOECENOOOKNSUTUW[]ZRNTWTMIKTVZWPRQOJKINHOVTNHJOPKMMGKQOHBDOSUVZ\SJGKJLSY[XNLTZWZ_]WOPSUROK89BGSYVQPJDFLKKNJGIJMRV[OPPNOOQKC=HQQROME<7GMOLIJMMLEB>DPRRKKQKKK?LVWURNLLLNRUPNPVREBIJOOHFKWWTNKKPTUUOQQJJMFLNKLTVTVOGKSWWRPPVYWUTQIGILKIEDHFIKJFMUWWOHJIPSSRUW]a`_XHDKQKNSTX][PGGQYYROKMEDJPRTQQRVVRTVNIJJMKEIOTYTNQOMOVZNHSWQGEGMIDILOQKQKG<@LSQFV__^TPOPPPMKGIHRZXMGPRPIF?O\XEEVQLQOFSUSKO]_ZQMINQOH==CFMQQOXZSJNQLIIEKRQQNQPQPVTZYYYUWWWX\^XKIELV\WOJEHNQMAMTPSTKHKV\WNMMNQVWSSWXTLENQTWWPIMRWSQJJIMTSPVZWQPPMQVNE=OY^^]XSV[^YSTRRWNOMGIONJD;INJHNH?DKOLKNOOWTNQQMHIIDLTTSNUVWSOOMPTMIMLPNV\dbUHEGIJVUXZ[[XQKENU[_\WSSTRSTPQY[X\\WS\Z[^]\TPZ\\[[TOUTUROLJLSTQOJKPV^^c`\Y[aXPPLOT[[TV[TVWWUZYHIKT`b\XX[XOLTYWXPOSTTE@EPQIH@Q[UMR`bhnWWSLMWSU_if^WYWVVSTMVUXfeZPVUWTXYTU]_^XVXXWXSLLRX^]YVPXY]^_ZVWZVYb^VWUUWYWTXWVYX[a\UT^\WTWXYWU^a[UYZUZZXSQOV]_\VQY[ZYXYY_a^YUXWPNQWXUXXZYXWX]a\YZ[[^\_\YYRRVZUVV\]XZZYNUYVVZPLYKMMTYXVWYRMPTTMOWVWURLKOXWWVUWSWUSUQOSUWRWWQSRSUWYVYYVPQYXWXUWYXTOQTTTUXUSXVUVTVXTVTWNSZZTWSTZ[WQPPNOUTJNTPV\_^URLPVTTWULSSPTX[WSTTTVSMIOJUSUSPSSSSQMOMQQSMTSMCMOIKTTSVTYYYSPUWRQPNNIJJJQW[[VSMGIMNU\gf\RNPQPTWXUPPQMMMSVOIMMLNKLQYZWMOMFCNMGGMROIFBIMTXYPLOPKFFOSNICGNMIJNRTXQLRWUMGCEHKGKPPOQNMILOONMNMLQPGDJMLJORVVTKJGJFIOKIHMTUPRTPPTOGKQHFIMIJKDIRPNHILNSPOQPSTSRPMMOOQPHFNWVJKROJKJDAHHNOSXYXPMOSUKLTRJFGNSWTTSW\XPPTTPOXPOTVXTHJJQRSSQPPOMPVYYRIGIIHSUWQPTX\ZY\ZWNNSSOPKGCEMKPOKMORQORPOQLJJKNMQWLKPMMRPNHIHMKMPWSRUYXNKHEFHKNHJPUOOPRLEFFCNQQORVTPJJMMLNSOLILKMFBCDNUSRQLLSWWUWTLLPRROGKTWUWTPRPQNILRWTNOUTQPIH>AILMHFCE>EQVUMIIGIKOTWX[_[YSLNKLLKNV^]XVSONOPOQRSPKLRXYVWSLIGKNPNKQZZRGLTSROTTMQV\SMTWPCEKKOMGEPMNSTOJBLRUUW\ZRQQTLTZULNQHJPPKLQNONS`N9BP[U=DHHP]^MXdmbTNIRSTJBRTNLPPNNND?MHKSPQRRTUPSPKVXRQTSQVVWQSWXUUQMQUYTQOKKRRLNXZTQUQPPP[VQWVSY[Y\[UKPQORTUVSTXQNKQPHCJMQQNFB=AKOLONJIALTV[]]_XZ]ZUQOWYPOQIBIHKHFNNLMOPNLJGHHJIKTSGEJSULIGJRTUUXXSLKMKJTN>DKMQ[^^]UMLMICLQV[\]YSJLVXWUUVPQ[\ZYTUZXSRWTZ`^\^[WUV[\a__XORXZTJNQRPSZ[PPQXZZXZZSX^^WNJRUWYUSQZVVQX]RTQRQY]YWRSX[VWTXQEMSV[[F8FVWZU?RV]M^_ZUGTQXUVSX_hgTRULRTTKT[UQ\[PPUUWYUUTT]_YVVYVVSYRMVcjhd[NSVY\[ZYXQNUZ[[VXWQRRWTVWTX\b^WTWWYWXWSVVX_[YZVZX\YPPSW\`_XPY`c_ZZY_c^USVVNRTXVUVW[UYU\acYVZXZWX\XXXWYXWYWUY^ZVVZXW\[[a_KMQSPTYXXUUWTOVSOYRWVVVPMNRUYUTPQWWUTRSQNWYWVPVTUTUVYZYWSRWXUVWWUTXXWTNWUVRKYNRUVWWTVSKPVUXVY[YZ]TNSXSNSVSVURXZVRQMKNPTUUWPTVMMQTSTUWWUSVSQSRSRLOSROOKGSJQUWWURPMHMSRQMORSUVWUTRWXTUWSKINNNNY]ZVNFFMOLLN\cea\WSMHPSUTTTOJS[ZUKPPLNQRVXWQMUXMEJPSJGPTTPPKDFPXUURKOKINOONPUVSRSTRJNQMJSMFB<@DCGQQRPMRNLFEFLUTMFHHF>BGHORNOW[YTPHBITOJHMTTTTLMVYUPKKGNROKKFLLLH@EOPOPPMHGLUZYQSUYTQQMORRSQSPJOMGEAEKPSWXQKDGKQQPPSPMOSXVQSU]bcWIJIJQRNKMTXNEJQQONLLPOJBP[bb]UURILQRPKIKQTTPOSRFGOPKPLNBELOOICJPSQPX[WRMAADLNMNTMPRKNORSRQNQSPLUSZ^[VQF?BHNQPNUQRKLSSMRLAFMPTZ[XUQHEIIGLOLUSLLQNNMICBGGNSSRTTQOHDHNSOEIQPMLOONIHMOKNXWGDMUSMONKHPVSKIHFHHLVWTNJKMNPVY[Z[NNQTOJQUROUVXZ\ZLDCKNOKLNIGRY[VTQID;CJRQNOVVWUPJMOPTSQSWXVPTRKMUWRNOOUXPCHPRPPMTXWTQONRXTOLUVUTJC9EFHJJ:BMLR[FDFPZ][XQRYVNSTVUOS]`\WTXXU]a^\[^YRROQW[[X^]XSSWYUOMVVPT]a^W_ec_ZROGIQ[ZXVUYZZZ]a`]X]`]WTUUQW\\WPLS[Z[VKIEKQKQOF=Qfi_^DN_G:W`\]\NPW__WNT]YYQTVOWTRLMPRWXOVPTSYPNWWWUTYZZYTSUUXX\`c`XXTRTZYWWVSLOTU\YNNRXUUUUWWXchc\SMXWZVWSPUYZZSUXYXXZWUXVWWXXVZZ]]\\^]WYPWZZVYWUVTPV[XVV^bb[UUSRWY[WXZZXZXXXUZUX\ZXZY[XY\Y[NTQPPQSTRRRUVUTRWWTXTTTSOLSYXQKQV^]WTQTVU_^YUUXSVUSVYZVXSTXWWYTPTUUSSSWWXVVOXKQVXSRNUTJTSUUX\WXWUNSVZUSTTNJQVXZ]WXUTRPNUQRRPLPMSTUUYWSSQSURSTQMMNLLPLULSPUZXTU[TQQPRSK?AJTSSSSW[WPOQLLPWTMSZYSNPKJMRUOIR]gkh_XMFGOQOSUNOX[YOHLNPOMQVXXOW\[PIFNVQMGKOPORMAITXRKIOSRMMIFMW[SMTWTMMLFIMHCJLGEEOTQLLOTTJIIMJONJAFKQPDHMJQUNQSXXMGIMRPJHLQMPTULWY[SIDGSYWPGFIMIJMQTROIGKNOKT\ZSIRUQKLLPUWVYWSQLHC@ILQSPKMWUSTPFJPSYZSRZ^XQSZ[[`\VWVWRKLKJORUXXZ\Z]YYXXVGQV\^]XX]cdgd`YOJORLPSVZ\_`ab`^[YYXWUTZ\WQY^]^[WQMSULNRXUS]^_]deaYUYWR[SQOPTSQJHKRWYVKF@LII@NTKO_jaUKHPTF&LFDK`WOTYJSPVOX^TOVXce_VW]WWVUMVXMYOT\\YUWYVUQUZ]_VTWVUXXWTVXWXVXYRSWW\\UTXVYYZ`[VY\dfbYRQYVYXWX_`]][UVXYVYZZXYPPVYYSRUZ]`^YWSVY[VV]^\ZWVYXRXUUVVXZXVZYXZXZXWZ\a`\]\\Z`a][[[YXUYZTUXXUVUTLOXZVNLORRRPSXYYQTUYUUXV\[YUSPRWX[[XWPWXUQTPVZWQOSTVWTRXVUVXUTQPSYQXNNRQORTMRKXYXRXXWSUWWSTW``[WUSRTW_`WQRXVKTSTSTUUSTQ[XTVNQVWVVQQRUYSMNRQJTTSKUYRTSTTTRQSNHGIENNPTOROLMPPJLOTL@HTTPPV[XQUWTKLR]kj`USURRWROOUX]YSLJPPRSRQRUSSW\ZUOMQTMHEMSVYYWMJKRLNOPLHOSWRSUTPNKIHGMHFLQONOOLKKNSQLKJLNFFQQMKNICHMSSKNRM>GOLFROGHNVXYTONPNOKMMUXWLDCHQTWQNKIHAPVXVTKECJPNOVYZWWVWWOHOVZWRORSNIFHJJORNPQKLNMKPSJIOSOIJKFFJMGJQVWTLNSVSPNGJNNIGPQKHPOTMGEMLNSSPPSTTPKDHJKKQOQUYXUTUVPSQRMQU[URNBBMRQHOURNJIHGLF@KRSQTSORPIFDKQQLRXVTRT\e_MHJQTPPPOMOKFCCDITOKOWZXXPF>HNORPOKLMMMLNMJHINNKNQOPURTQSVTWWTNEGHPOKLPSNNLSUWTTYYWRLIJLHMUVJBKLDCEJQNPQQQHOSNLQ``UPTJEONMNNILQOQQSNMMIKNKMMOPYY]VSVXPKMNPRPNOPSKOZZVUSPOLMPTPNLLE?JPPMPY\\YXSVWTMSVOHNOSVXDD?HSSTTVMKGEANOFBDCN\]MTXWQR[[QN[[CVcdRHMTSOHJN#%=(\XXUSKJO^VTVXdf^Tcpm^YXSUVXMLTUZ\YWXWTVYYX]]VXYYY[[WSUWW\YTRVUXTZYXWUWYUXYYZYX][YVUVXZXVX`b__]VYVVWWWVXVYUYVVSXVW[]_^[SPZWRSWdc]XUX]ZXVYUYZWXUZZY__]]^^^_ZY[[Z[W]][W[ZZUXYXXXXX[VVNMMUTWSMQNNPMRWXUVSTTVYWVTRSUVXTQOUUYTUQUUWSUUVXSOPZWVTVYWWXWUVULQVULVQMSXVVOUOTVXXWUXOQPTRJOX[XXTQTPV`\TJWWYWUWSQUQTRLPXXQPNQTXUVSPUWUVSNSSTNMRTUYYVSRUPUSK?FIIOTTRQOIGNQPQOQVWNMKMQV[`YRKFAHONU`a^]XSOV]YVXYZYSKEBEKOTVSMPPOQSOHIOWQMLGNUUWVSRMJJNOOPPOSKJPWWPPMLNHKQKMQTTTTQGGKNRRQPQMMNOSSMNRPBFHMNHNYUHAJMQTQFFOQXZ]UTNMMMKNNNROQQRSPIJMKQURRVYZ[XPEKTSFHSTW[\]ZZXL@?NSOJJMMKHPNJMMKJNJIMRROOH:@IJLJGFEKRQRWXSMPSTVQMLNORSLHKIBDMOLNLMGCGTRPNNPOROLFKIKPOPPTVYYYWSOHNRRV\`WNCGTYTNNRTQKLOQQQHBEKMMIUSGHMPOMNQRPQPLXb^TG@DOOJNMMQTQICHOVVUXXQJPPGNSUTRQNRSSMRRRTTMHNNOOOMKW]^WRPRUTRSRROOPQJOOOJHR``YMSVQPSTLILQRQKHLKGIKSWZXV[YVTXWKLX_YMINTUTSTPQXVQRPPOMIEHFFPSSSRVXTPSXRJIPHLNKLOOPRUORSSTRPLNSYURWRMKTUKJPYYWWZYTLBGPNLRRRUXSJ=QeKX^ZVJTUPW[]TTSC(@OVWVXQSSQOQPQRPRXUPX[Z[XSKJNSTTMGMPNOXYLNRSJGIMNLMKOPRVVOIKLUYUNSVUSSPMJVXQIGOX[XTOOPSQSWVWTLMTVWUQJTTJDJRSROOOKFHJHE@;HTUSVZUW[[XPRPNOHIPTURCMURTWYLGJGFJMSQQTPIFLLPNSSIEGONOOHFNVSQSYTOQWVYVMLP[bb_]ab__dffffghfiff\]]ZYXYTVW[\VUURQOVWXXWTWZ[ZTQ\_a]^^ZTUXZ]\\YYXSVPQSNBDPVX^]PEVZRHNUPMTQFBDJSXUOINOLSOG15FONPY[QJai_STZUIFF.@&5E\VKKYYXSNIKNT`[Vgk`UU]\Y^ZNS^`]UYTZWWWKTZbb_[YTYWYQUVYZ_]WVW^\XcbZSSWYXUXYXXW\]UVSQTWYVW\^ZVWWVSWXRXXVV]fe_X[YWWXVZXWZWTWVTVZ\ZZVUYVXUXWYZY[WQSUZZUX[\YZXU[[WXWZ^[[`\VWUYVZXSRNXSVLLXLQRTQTQNVVNWTUUYWWSUVXQMSWXXWQSVWYYXYZXQRRPRSTQU[VUXWXUVWVYUQTYPXNOUYWXOMMVWXYTUPUOQOPUSTUXWYVTWLS[^USUVX^b_[TWSXSVKRSNOVRQQWVTVPRQNKRQVTSUMHRRRUSSVTUUXVOKGFNPPPQNOOSTPKGJTUSRNQRNRVWTPGKNOJQX]beaVOTZWWY]\YTRNJIFMPUPKOQRYXVNHQPJJIIPQNPQMLRTTTQSQPQTNCMSUOMNQXVUVUMKFHSUTOJLLOUTQPLMVXUSNKMKGDEPRMJVYURJHLPK:KUXROPSURSTTMMNQNLQQUQJMRSSYXQSUWYXXQIRQQROQUZZVXWZWJ=DOTIGKOLMLJDFKKNWZRKSPRPKCEGIJHHJKFMQSRVUOPPQUQFLQRUROPQNIELKDFLQOBKQPKJNRNNPPLKGKHKOSTZ][VUPNIQYXYX[WJLKRXWOFKMQSVTSMJGGCFNPIOMECHPHGJMMRRSONSUOIHJIHIBKKKORKJIPRQW]]UIKQPQTWYXSOMLLLLKQPSRLKIJJJIOSVTQJMMQNMMNUUTRQTY[VRPV\[QHMQLEQRLIOSSOIGCDIMMOZa^WUSNLQRMMSVTPOT[\ZWYYY]\UQQVTSPIECFLPRQNNTSNNPOMUWRLNPV]\Y[ZQRUQRSSPPPTYSTYRHOTVWVTXWWSQQSVU[VRQY[XUVTQNRZ^YSHBIS\^]\[\SKHPTMYZ^XAMX[]ZSMF0DX\`WRUTTUMGONLMFM[VDJRLKIGJORQPTSQIHFFMONHJJQOKMLMKKJMQUXMFPTNNSOQSQSTNJKMOLLLPYWVWXXTOOVTTONNNNTVTLIRUNLLOSKLKNRPG@B?:>NWVONX^]^^_YTIGPRLLKPQQX]UPRN;:AJLOQRNSOACKJJQRQSLILTSPTTRSRPLRSRNQUQOMKQKJX]_\dea]ajjhfdghbefdb[SRTTV]c]STVXZWYX_]\XTT[_cZQT[WYUVVXZWYZX[_^WOQPSWUUPRMJQYUITWKHNPQUUQG@PTTTXUNLKCIVVQDHS\^\ZVW[ge_[QJGIG:8F=9?QORQTURXXRXWdc^`fXRJ[WY[VTZaeie]UU]\VXTXWWYYVYYWTRXVTYXXTYZUPVabZULVXTYVVUWVX[ZWXTRWYZQX[ZV]\XYYXLSWWVW\_[XZYXUZYVWUZYXPWYRMVWVSTLPXVWZ^Y[[XSOWWYQNYXYNW[\ZVUV[_\\\^X^]WWX`PRTOKWXKLQSYVLPUWUUTVUVXVYWVXUXXVYVVUUUUVTUSTU_VOWNQWVXVYXPMVYRNTVWUXUUWSVYVUUWWXWUYWW]ZXVSWXTQQQLQUSRPQSQOVXWWSNQV[[_\WWTTQNQNIUXQLOVUOHIRNTIOSQQUULMRWTSSTSTTUVXVKIDGHMOTTRQW[UKDKNHKOPNMIJINQPPTULKNNQXbc\UXXUW[]^]YXRLLGDFHJHHQTVYZVNMMKMNITVNNRNLQRSOIOQVRSQLKKONEDIMPNUVORMPRVNJPUSNRSROFFRUORRONIFBBMPG?PVTRIILNOJFTVVQOUUQPPMJOPPRKJJPIHQVQTRMKNTVPKSTPLMRXVPSVRPSTWZ[QKQVRPROKIJFEOLONTYTRQWVUPHHLI=:AHGGJSSORTRQKIMNHNVYXSLLLGJHIOOKPVVNMNMKJLOJ>@?BFNNOFJPOOYWKHMNKMORSORRLLOMVWRD@BKW[WQF>CHHGMQPKOKCEQOIIJFKPPTRHHJNLGE@IMNHBJORRMOQKLTYVLMRNQSPNOMMNGAGNTTLMRNKJNUUTQQJJEIMGGIJNKLMLNMPXWRJOUTOKQURQJHOOOLLMECIKQRROR^eb\YUNSQKIKRUPLGT[][WXYZ]\TLTVSNNUTSMIJNQSSWXPIKIJPRNIHS[``XTNPZ]YVWTOPPTMNMRUOJPTTWTXWY`^VUVY]]WRU\]]WX][QV]ZZUNWYY_VVVZV>)JT?NJJP=GW]\XQOJ>JUbaXLKHKILKPIACCN\ZRKMF@86FOVPIKQOFCDEMNIJCHPTUPPTRKFJPSRHKUVQOOLLPTUQIINPMPNGOSVWVYYYWVUVLFHNLIFMNQSRORNIMHKLOOKLKEAGHPY\[XSXWWXekh_QLQOSLGJRSYZYSRRMAGORQTUVYULLKIFOTTTTPNQNKJIJOKNRPSTTTQOLKW\XY\__\[_ZVW_a_[agjgYWY[VRR[^YY_\TWZ]\][\^_`\U^_^\XQQQSSXZ]_\YYZTX]XQMJMRRQTVXWSNPULJNOUTRRNPUSSUXTQW[YWXNO[][NEL\^SMIJZ^bXUPORXWGJ5BSYcjcXW`hhf^fdZU^fgeaXXQPXTVUKTXZV]c`TUU]\VSSTQ]YQTUWPTWUVXTMSWYUSX__YXPMPY\WYSWTSWY_`fVVWTWQUZZ]YVYVVPSWXXX[WXWRVXZYZXYZX[ZRSWTNPYYVXTUXQWUY\YVZ[WX\]ZSYWYYVWTVYXWZ[ZVWY`b_UZUZURTSRMSUNRVNWMNXUWW]_YSVWYXYYYVVY^ZVZ]YYW[XYXWUXLSXVU^`ZXVW[]VWQVYXVVX\VTSWYUNMWUTNPPSUUY]YXSTVWTLNLMUXUVXSSUUMSUUVUVWVSOQTSUWRNSUVSUQUOJPNJQQVTLWMTPMMKKRSTWUPSURHHIJQTXUPOS]daQLUWVSNOKCDCIPTQSXUPIOQMXce]SSUULKS\\YXROLHHJIKJMQQOOWZXUQOTQLMSWYXUPJLQTNU]\XQSSVSOLEGJHJNTURVUMOLI@CNONOSPLMMWXWUUPLJJGHMICGSSOLLORQURFQVVRQONJCDIKLRPIJ@CFFIQSQQOKMHITRHHMPPHFNOLPPQMORPWYWRIMLGHGMTZQJIJNSWYXRSRTTMHJPTOMLJINUUSPNPMPNKMRPQUVXUEFLLROOROICNMILKHEFHLOOLC?EJQQKAGGFTUSKJJNOTXWTTSIFCEHQJIKNNRROKEHKNPLFIKORRQKJPLIJIFLNPY\TQMKJLPLKHKKCGMMPVUPI@FNQNNGFNRQKLJFLNKKLRQMMMLKHHPTTTOTQTPQKHIPPNJGGHKORSPRRVSMQVPENNJHKNLHMRPGHMNQLLNZ[YXQQVUMLOROJCMSWXXXWUNPPLOPRQNTZWVUQKNLLUXRHDIJMPSRPT]ab^][WOMRNMSNKPQTVUKOTNPUUWUXY[Z^]SPNTZZXPMQUWXSac[TUPQRLTYTRUOISTMKTXVSB,AQV[Z^WURSRK?ISNIA2>DMQSREBIJQUYWROHHMOMQTKBEGGJIKMPLKKLMOVQJLLGDJROGDOWVPQMIDBOWTNIHFKPQLHKPUOBIRUNQRQJIONKQUVXVOOUSPMORRRNOMQQNOOQUVYYVTROPWbd`]ZTNKLCHRTLJLNPZ[SMNNOSUVUWTSUVUNLORTVRKHIKJFJJKKLLRVSLKKN\]YWW\^[XWVQX^^JH`ki]OFDIOPX_d`[VWWZ[YWMLMWZ^YSX\[XUWUUX[[cec^[]`ZWURVZXSNLMS[\ZUSPNPNLTWSPTPQU[ZTTQX]]UVVX\_[PGNPQURQIAKPSAGSJRcf]MKVKK@YF@defle]^ROWSXYYUOSMWUVLYXZPWZXYUUWWXUPVTUUWYW\XYX[WURNTUYYU\_ebZRKNTYWVQTVVWUVWaa^WWYWVXUVVTRSWZZ[UWVZZVYTORTUQSSRYYYZUXXVTTZX[YXXXTRXW[VSXYXRSVV^]]a`XTTVWXZZVX\Y\\_ZWYY[[USSRSVYSRVSTTTTVUW^\[][WTWXVVNNWVZZXYROTYZVWVVUWYZXV[a]WZXXWWUWYZ\XY^_WWQONNNXUYNXKSVXXVYWWTTSWTQVPRXXUVRSXUUTSXWXVVVOLQTVTVSUMMVSWXWUUdofTLIPPOKLOONMIUMTSUVSVSRVYSOSWZ_YPQO[baQLTV[\TPPWVPPSWTSQMMONPRXa^VQNRUPHW\\RPPOOMNKLRXVUTRPMTQNPHDHJLRUTUUPHGUUS[]VRLOX[XROLKLLFGJPOMLLILLGJLMMLTSMJSXZSPRMLMOLQTTVVROIJMPRTWLIPTSSNMTTGFQTTOJCB>PROKORRQRLIHKOPPMRTUKBBF?CJQSKKRSTTRNGJNLLNW^[MEGOOX^]ZVXRRMDFSWXXVOJQTPNIOMJJNOPLSRMHIOOOOQUWZ\YKDCBCIHDBGFEKSUPIGBKKHFFLOSW[YQOXYXZXPRPNGKEIOMMSUPNGEEMMKRPH@GHNRMMRWSIDCFOPNU[\WQOMPPOPLLPMIMOJNONIGIMNSQFDNVTRNGAJOSQSXVSOHFMTTSRRSWVXXUQPLIMKFINMPQRQROJKNMKQUQKPRRNMSRMLTRJIJJPN@DJNLNQSSSJLQMJD@CIKHQTPF?FJOPTWVZTVOPNHGMJOQJJNLPUVNPXXPB=:;NXTI>AHNTNGGKMPTUTQRMGKNLDKSOLUZ[STSNQTUMLPPLEJORLFFMQONJJNPQRJNQQGILKNMIFQPA?KOLLOQRNORPSQRVXVQMG9>FHPYZUTY^ZVVZVQQTWMDQW[YXOFMNRRGJKFJIKNJHJOUQQNMLRNFINQPVPINWWWVSKHDLKFBB7DSXSSRNPSTQPJJKRSY]`]UTWTNPNGMOH@EIKOQORIHNMLSRQPHHFBPWRKEIHDFHPURMVRJJNDFHJIFDEAGJLJDQTQJIGILJHMTTQTOIJOEBFKSWXQJKSYXRSTPKNKGGDEMTSMMRTQKJHNNNNLFJHLLFOTSMQVWRGMSQNTOQOMLNNSW]\YMAD>=BNSRMNQYZSPMUQGGHIMNLSTYWPJPRQMMZVSVYTPXZQHMMPWSUZWUUXUWUQOWZWV]XVUUXUSOOUSU[^\TSPUWORWZWPMLLHOSQPPPOILOGCQ][QLRWZZYSHIJE)4>EHIUUPQWRHAS[XWPKKPWYWSJBLRPLKIHLRUWOHLQUYTOMJMPLLTVUNQQQVXUH?MRVUSLPVY_\\ZSELOLOQQPPMLKHCJSRPSQGGOLFLNNPPLHMOMMOQRLFBHLJMUXVZWTUXQRTOMONPTTNCPbhdaZUWXTOJJS\^]_ZOMSUTVWVQUXWUV[ZPJJKILOIFRRKNOJIRVNKSZ]YVVX]c\NLJKS^egbVT]\YXWWXU]]XYYZ[Y[\WQY_`[_\WOSUVWY^^Z`a^WQR[ZVSRS[XMBIY__ZWWXTTTK:K\]\SPSXSHFKOTY\[[VMJV_\TJGJJRXUHCMQIJJTZag`a`\KMCA6PP>A,?\KSYTVVXS_bbV]XTTTTTPQXYYWTQWVTYWXXX[WVWVTXVVRQU`aZTTNY_e_ZWPQXXVLPY\\ZY][Z_`][[RPPMKWYUXWRWXWXYVTW[db[ZTTVZZ[XX_a]VVUVZZXYW[WWUXYRXWVPPSUXSOUNWY`[UVZZY[YRUXWZQW_bXVVWXYPRMSPTRTPQLKSQRWUZ^[VVXVWVYX[ZVVXUUYVZ[ZWUVQMPVRRSbw~w`SZWY[UVVUY\][VXTSSWZ[XXWVRLMQNXRWTUTNVNVSXUUWUXUVYUSXZVXXSTWSPQUWYXUUTSVUSTTRSWVVTWNVWUTXTTXVSUPOQPROSTSOMJRVX]_WOHOPTURPTURLMIHNSRSQLOVUUTQLLEHXb`ZVYWXWVQNRMACBDPRONOPUWXK:@MQPSVYXPTURLSTUTNJNQNMKIIKIOQRLKMLMKQL@EJLQORUXYYVMNFNTRNHIKE?JOR\]RGHLOQRTPILNOIORMJJJMLPPFKPNMRTONLFDDNSURQVYWME@CGJKRUURRSRQTXWUSQKHHLLPSVQRW[]Y[YUNKROQTTWXZYTQTSTTQPRPTSIFFHQOMHGNOTVVNLQRRNKGEELQMKJLLLMKPNMHNSV[YQPQOPJKONNMMSVVSVZYYXSPPSSNLLMKIOPPIJLKOW\VKHEIQSQ?HKDHJLMJIRSRRQOMONPKLHCIQNJ?DNNPMHLKMDEOPKOPMRQLGLELQQJJNTZVLHVVNOQNLLLSXTNLRVUUQLKUURTPKNQQNNPMTVTNQPRSJHIFHNMMRSSYZ][THLMGBITLKILWZUDFJMLPPRUSJMRRWYWUWSILQRRY[[RSSSOPNKNRPQPGKKKQWVVU]RIMLFFNTRNPLMHGY]YLJTX[^YRRNNNRSXTISVTQOGNQNIDFLOFGOQVWYTUUU;879IJMVRONEHNW_^YWU][KW]_XLNVVPRQTXX[[VNKR\ZTIQTTNOQUYY\ZTUZ_]VPNTTUPIHT\cfb`WPQQPLJJLJOPRTSQTXVXVNJNLQXVNIKMQTUUOJNPPKKKNPWW\[XTQTSRVWQLQRQPTPPNTTUZ^_c^WKIGHQRTZWJHOSROPOOJIHMVVOKOQLNSXPCMSWPFCIRTPTX\[\`c\]`THJMKJZdgfa\Y\\ZSVT[`^YTU]`]YWRYZ[\``^UNOJDLPW_cbb`\XY\Z\XRPXXQHLX^ZZZZ\XTTSOMS\ZQHOTTOJKHIOMNQSRMUZ\WKIKKR]^REIOQQU[`dljdaSLF"8GDLID8:LRRdjYU_Y[fohYWQ[VPTUMTW]WTPXKWUW^\XXXWUYXVUVXUTXX]WTYUUXXXUXSVXTUKSY\^_\Z\^_a`\ZUSRQMOWX\W[YVXWXVVYZX^[VTWVQXVXWWZ[YU[XXZ\[[ZYWY]YYWXUVVTWVPSWPU[^XWYYYWYWUTX[\XY^ZYYZUYVYSUUWWVPQKUQTPXUXV[YVUWWWPNQVWVUUXZZ[[b^WXXUTYVTRRYirm_NOLWYUWVYTWVXWZXYVYWZXTVWWXYXVSX[WQUWNRNWTVYXVWXVUVLSTVWWUTWXRQQUXVPRTWVRIPPQWSLQTXVUSTXVWUWWVVUWUTSUUWTTWSWTSQ]\ZRRZb_WSRRQMMOOLSTTWYTNPPNQNOQTQYdg_SNRUWVOGGLJKHMRRUYWMMTXUPUZZYTSQIMUVOGLWXULGJMLFIJHGKHMNPQMMMLRXTTTUVRPW\]YSVQOOSWYVSVQIGJKTSQKHMUXYZUPNJJOVWPHQUSOMROQSQOPRWTOKIMPUX[^[XTLDEIIIMTQKGNRNNOMJIJLQVQJIMJGEMPHKOMMSVWRPUUUY[XUQUTVQPRNOUUKKPNLTQFEPPMSWWMLONOKLHBIE=;AIPVSRUVRPUQQTOIRWSMIGKLHDDGSXYXWSTSJLNQSRPNOMPRRQTQQMFQYXTLDHNLFHKG>GNLJLNQQVWUVVVVNPWSNJJGG?;CJMPKJHEBEPPPPVWYTJJNIDJLLSQRSRJKPVQICFNNW[]VQGKRQOMF@LPONNLINOLMIILMGHKHLQSTNKPQUUUUTSTPXSKRVPKSZVPGIRTNDDJPUYVQMNIOQQNRTOVTMMUSVW[ZVNPSVWUTVVURHFIONSVVVZZRMOPLOOOGKSUTQPZ`]SPVX`_\VSUUUX\\]VQXSUSINTURLOSQG?NRVNKLXZV>=IP\\LDGMQGJW_a[SIU_\PHWYYQBIPKMRTWVUUWVPSWSGKNKCEPURRUTSONNPVYXUSUUTOQY^ab_]XTZXSQRPJELRQSSVUPRUXTUQENWUPJHLOVX[[UMEGKOSRNPRSVVRLOONNTOKSSTSVWSROJLPVba`YUQNMRPLQWRKNOLPSPHGLKJQOHMWXSLRWQMIMVVIEKQSOX__cfhhd_^]UILMN\eb\[[\X\^[]]\WSPFP[[TOPY]]\_^ZUPMOQORTUXYWYYTW[YZcd_\WRLLOVYVR[^\Z[YTSKIRVMELOQTRQUTLMJOOQSVVOPPQROQVWP>CFLPUYXXXOMPQJF@0IR;0DQQ46VfaWVZVVTfnpicc^WMQRKTWUURPNKUVSWSW[YVMRZXVTQUUXWUVUV]XTQYXWTTV[WYQYSVYUW\X^dc]VTWWQQUXZYSQPUXVVXXZXWYXYPLPYWWVUVWXZ[YX]db\YVZZXYVVYY][XXYXPTPV\_ZUZ\]XYV[WOUZZ[UVWWVZVWXYXTYXYUSOPYMT[\YQXWXYVSQSUYUUQVU[``\UWYWYZWTUUYWXZ[ad^XTQSWUXXVWTSUXUVWULPTUSVVWY^]ZYXUSMRPTUUVWY\YTYUSWWSTWSUWTZ[TUPQQROPWNQVUTWWRQPKPSZXTUUMQQSUUPSTTRSSU\\VX[WUSRSPRX]\bd^TTTTOHLTYSKRVZZXTVUKFJONKKOZb^ONRPPVZWUUWXQSZ[]cbXIHSUSSXZUQOMLQY[YMJOROMMLNMKJGLMPPMPPI>8BHSWSMLQWUOLQUQNRWVXVUYTMPPMMEBNKMTTY[YYZWMKIHQUWVQKRTSTTPIKOJKLRUUPKHPLQPRPSTNEDB<;AGLJHKNNGJKNMJKNPMJHLLJLKFEKTQKLUY[TTUSXZPMONPVWRQHIXXOPWURLKJLTPELUXTJJILMNF@EIMOLMQRSQPSQMSWSPGLQVVVTTROILIIMVVUOFAGEIILMNLLLOPPNOMKSTOSSOOLB@IHC>KQLSYXSSPFJOVUQQSWROV[TIENMKGJORMHB@CFMQTNFFOURE=FHHNRPLIHFFFLQSTMLMPOQWXYWQLLKHHKFJOPGGKLLONQPIPMHIKMRORWOLNVWTPNKPPMFEJKPLHPWXRJP[WSQUUWY[VQLKLOTTTOIOVVMNSSQOSTRLPXZPQYVPHJKTXQEFLOVZWDKXTMQXSMILQSTVX][ST[\]ZVUROY_^WPPQME;DPSLY]VMDOXXMJV]ZPKU``VUHSXWPFNZ\WKHXbbWPTUTMKJMT]ZPQSTWZXRPKLPTUPJHLKB>?NMOQSTTQSUTVUUUXWTSPQYZWTRQVVUSPPNNNNSWRPTWSJENQW]]TPRSLOXWSSOPX\YOMLGJQRQRMPLILINMMNICJUUV[\XUSU]^WRRSRUWYYYVRQVUPMIEKSOEAHIGHHIMPSRPIFNQMLPWSNMNNINWZ]ced`\]`]WRRPU^_\Y]XV]YORVWYVWTV\_Y\]WWV`ii^VYRKNQQZ[ZUVXXTV\\[defc^ZSVXWXVMQV\\ZZTQOJNVXNFKSWYUWXWTSPMIPQMEBGOUY^`\VNDEX_[STRVUOCCEHF>ISI* 1++\_begkimhTV^ajohh[QXacXUWTVVOUWUUTXUYYYNVYVZZWZWY`c[WYUTRYVRU[_c`ZVONWXUYUVY[]\VWRSXY]\ZRLQTVYXXZWWVXXVVYWYWY[YZWXVVUUY^a_[XVWWXWVY^_cbYVVLXTWWXVY]\baWYZYVPVX\ZPYYVWZYXZZZ\YWMKRQQRWXabbTXYVZZTSTY[YXXYVVW_a\VUWXYXWTYUWWWXVVZYWZXSSVYUXWTTSXPVUVRNSPPYUQNUUWVUUTVOLJVUTWXZVUWUYSSTUQOPPXXWYQTUTVTUTTWTUUSSPOQUQS\a_WWLQUUZSJJRTVURT\]ZY]\XWURRT[]^^\WTRUSKMY_\WXTV[[[YXJEKPRMPRU][MQXSFM[\VQXWSQSUUX[UNGTWQOTTJGIMLPVZYTKILNRSPPRQJJMQTSNRLFADFKKJGGJLLTRMIJIEOTQRUTSLKJGLOMGJLNORWUGFPRLEGKTQNSRNOWVUOJFGNNKQRSVSLHEJHIHOVYPDGMJACMJJLMNMNPUWRMKMJMLJGLOQUQLKRVQIIQRTXZWWYVWXVRXUTVUTSRNOLTUOHOTUP@:IROLKHKOJDDAGRVONNNOLQUUJPVZWUWWY^_[QLKMNJGLTRIFALRUVRPSOJKPRNRQOFEHMJGJLJJECHNQKGMSHV\[XWO?BLLNLGNQQMQWXKCHJLNNQTTLADHLMNOPRNGMOHHNKLMUTKJQNKMHJKKUXZTQSPPSUSQPNPMMLHIJIJLEDIQRPOTQKFPTSKDRSLFKSSRTW\WSMNQPOLJKONOAMVTPRSKRUXUSQOKJMUSNINTSOOQPKISUQQNVVRLOONMIIU\YLFNOOTN@OUREDOMBGNEITZ]_^ZYYZWQMLMIU^[WLNVURMU^[OQ[VIFW`aWTXaa^[U[^\VMPQR]ZINTYQJUehaXLMEMIKKS\[QJUYYYXSNMLTY]\ZWRJNNNQQSWRMORRNTYXX\[TVWST[\VPMNNNMKMRTOHNW\WQOPOMMJKJMQX\]YXRZ\VUVSQSUNLGJMNLSRRONJFKJRSSMJQUVQQVWURQXZSKLPONPW]^`]XUZXG?AMUTPJGFEJNPPLGLM@FLMNDFLRPMNQTX\\URTMLW^a^\WQMMRTQTVUV[SPYWUW^bc]W[_d`^YSS^cd`[WSZZRXZW\_[X\]XSWTQVYWSUYY\ZROUX\^XX[^XSRPPNOPTWXUTTU]SJGPMJJDAEKOQZ]]\XR=Ta^THOOI@GLMV^_[MI=4OWG8H5^^\dmeZXZ__dXWVRU_eg\TOVPPU_^\VQPPUUXZUYUY[UWUZ]\WXYVONPQU[_]WTSRXYVTVYUZ\]\ZYWSWZ^a]ZVWZ^]ZYYWZYVUMWVW[]]ZZWXWZWXSYYZWVVZWYZVWY__[VVZYUXUZVQRZYYXWTY]\VVZVXWUXVXUVVYVSQUUPTVLMQWa`^XVWWUUVYWVRVYUUXVWYXTVXXVRUVXXXZXWYRWUZ[b`YQUXXYZZUXSSXUYUWYQXMXVTPLSVKKVTPPUJNWUTUTVZWYSRLNSQPJXMRRUTRPV\^UUQTTRJUXTRUSQLT__XUVTSVXSQKJQTQTRTTVT[_[RVUTTUZ[XYZWSLLGFLU[[XSVY]`_\UI@DJKOTVZ[ZUW[ZTVVQHEMTPPUQLPPSRVYZ[VRMHLQVTMNPOPLLNLJMQTZ[TFCJGD@FKNOKISYPH@HNPRTQIKIMRTPMONIACIKPPQQKIMTRVWSRTWQMNSVUMJLOOQUOLLMILQQSSQTRKHFMHGFCQ\XNLRQKJONEJNKIPTTQLNWVICLQNJJNTRG@DJMJKKLNSSTSXVX[YZVSPQRNNOLPOMPPVZXXVKDJPNQUKNTSOKMOW[VMMLRTX]ZSTVRTVVSVZ\XPLLQSRORTOKH?HRTONIKOLGPXUPONNLLFAADIMMNHKMTUTSRYac_RKGIFINVYUSOMJKLLNPOPSMHOTMHMNLGCIMVWTRSOPOOICCKLRVUVWNBEIPWWSMMPPLORQMJNKKJFGMLKKFHNTWRMQVOMQWPIDIHHCGMRTSXWSTWWQOSSGKRZXWWNDKNPRSUVUY\UMHHMUOMKLJNPKLLIKSUQKMPPQOMMNEEPTSOKPQKMQMHNVWURKHLNLIQXWWVSOOQWTNKGIMSSROPTXQPY`cZSUUIQ]^WMMX]`_\VQYZTGZDKYYQKHQ[ZT\]RLKRRUQQQTZUD?DHHKSQHHMLQTUVYXPRNQMKRYXUSQNJGNRU[[UTTPNUWUPSOIFLPOQYXPKMQUPPJHKNMKDFLQTYZVPU[YWPPPMSVVSPUJGJGNQUPHHIKSUUTSQQSUX]]UOKUUTTVWWQU\``baVNQMIKOQPOGFGLRWY[XKPQPNONQOFELPPQTQOTUTX\^_a`cedVLHJNMJNPRNOKNSIIY\dhc^affb``WFJ^dc[ROSV[YVPUXTT\^[UZ]YVUTPRW[\[OJQWZXVY\XUKIOQSWXWYTUYY\cbWSUTJLQKJLIFGHRWZYNMRUSLOEFMRLTWQZYMOCCDXfK(C=4SWVJRT\[W_VVbkrd\`iibZVTRXWXUSMNNNU\YY[ZSPQXWUXWYYWXYWQPWWUVTRSXYUVYWUYW\ZWXXUVXXUXWWRZVYYXWVW[WXYNWYUYY[WWSPSXWXTVXWWZYXVZYXWWVWXUUWXXXTSZXXVZXVYXTUWVVUWRRZWZ[XSW[[YVYRSNPVTOUVYVXWYYWSQWVUU[ZWUVYWYUUQRUXWUUUXZV[[XPWMX_b[WOTW]`_UQOTPVVUTVWVXLSXUUQUUUTVXXXYUWQW\XSSTVPJKMQTWWSPTUWSWWUSUXTJPSVQRSTRSWUQIITWXYXWUSVTRTRRPTONPRTPTXYVYXSVVSUTWVTUQLGMQPMSTQOUWXVZUMLKPPOOPW]ZXVVTNPMBBDHNHNVTPQURW[]ZXQG@JRQPSPMMIMOJNKAKPV]]RDHGGGD?HNTQRWVPHDGHKMSQDEJJRRGCELLFELU\WTQPGNQLOSWSTPNKLNOQOLPOIMOPGHJIINTSPQQPMKJNSRQOOPVTTVRKKNODGORVPPMJIPWULJJMLCDIKLHEEBNRKHNQQPQYYLLWYVSKIHFCFORNG?HRV\XVYXRKKJJPLMZ[QIOU[[WORRRQWZWXZQPUX[ZWUQUOKQUVUTXVRRL?BIILIGAFGLQVYZXTRSOIMQTRSSUWPPTWYYY\fiaUKJNSZ^[\ZVLSOIBBGHNQUQLQRNJLONMMGJNONOX[YPOMGAC>LTXXYOCITWVMFCCJTMFKMHJLHIKNQQPRQIFLVXRMMPOSXYVKC8>PRRTVSUYTHJNLHKTUOIRXVWVPDCHHQVWXRQUXTTRUQWVRLMLMHHRSPVUNMKGMRUQOQRRQVWQMTRGKQPJBSZWSPLFEHKKQUWXVPLQWWNGGOSVRKNPPNLHSZZPJLOPZ_ZYQQZVSQUQNPMHCSTXUGP\R8RVZZQN?DNR]]QIKURICGGRVXPFFKQSSLHRUZSKDKMWUIMQROQPPWZZZSNPTYVOMKNKFNSVVRLPTTIITVTSOJNPMIDLMLLRROHOQK@DMRWXWMSZ[XRQSRSPNLFFBFJJPQNSSQRUXUPNTVUTWUQW_[Zbh`PJOMJONKMNOQMOV[\[SR[ZXSTQPPQSSMSUNQPKEGL_efbchg]PJNJIMSSSPTXYTJU^`_a_TNV\\_a[RPSYVUTWXVX]^[UNMVX[[VTXYYYWUVUPOPKLQ[]UPW[XSNQR[YVUW^\XXX^d`WMORNRNJOPILOFJQSVTJHPUQPMQXWS]YGRXKSRGS`gX*88hYWMUVWVOP\kprgaYWab[b_]\]SSSUXXYXZXY^\SNYZ^XV[YWXWYXUXZVTVUWTY_[UWUYWVXVVPLZ\^USSWRWZZSWYWXYUSPSXXVXXWWXWPQLXV[WVXWW^`\ZYXWZUUVZZYYYOOW]\XZVUVVZWZVVUPXTZYVZ^_]SW`_XSUYPNTWWRMUXYYVWXYULXYSXTYUUUTSXUWZVX[ZXVUUYSUWVXRTXdf_WXUWZYVLMUVYYYVTUXVSTYVWVVQUTYU[[_ad]VTTTXVSKXRMSVUYXXXXVTWOPRPRUXXQVWSWVTVSVTUVRSWXW[ZZYYVVYXSSPMLSWUSVWUVWVSTRUTXWRTVRKQZZUOLPMMMNQUZZVSOLJJRQSTTUUW_\UHIKLJFCGPQIMUYVXZYSFGOPOONNOSTLOUTQMFIPX[VPUUQHHLIFMNQTSOJDHLJEMSRGIJJJJIJBNXTPOOSRQTUOLJHMOTVTOLHKILMGLOMHKOQQMLICGLQRWZUMKMNLOVXUV[[XTNKKOVRMGMUVPPLLOOIGJLSSMICENQRRPUWUOMOJINUVSNTXRQVRF?IONPMECHOTKMPW[XTSJABEERVPIQSSQKOY[YRQQS\[VPJPWY[WXYVJELSSUXPQPHCELNLJ?9@LTUWZXWSIECA@IRYZWUWVUY\^_b`bce[QMQXceb`_WTPIHHHKNKLNIPRSPOLMIINLHRXWMKTUQLNJIGAANTWUURPVSPKNRNLOD@LOLLMOLIMNHLROGCHUZUKNJJLTVTPKITURTQSV]cZOMHHFJKTSPNOJGPLFFH>CJTXUMPUWROILIIIEFDMMNTXQOMHMNICLXSPSTTPMLDGSWRNKHHJPUSSRLFFONDINMTXTTQPSFP\_SB7DJJKFFNRPMNORUWVWVMFCEHPIFLPSKGJIQRNMLQUSRSNPSUXURRRSMCFJPRHGNLGFLQPFEFNQNLRXSLNROHDACAMUPKOSUW]eec^\bg[QNPW]]YWROMGFLMJKLJIRTQSPRTWSQFLMEKUTPKLGDEMLOSQJHEDMUUUTROMMOKORGCKOQNQSRNJC?IMKPLLRXQINQKGJMSVTVWWKHLTWY_[RROJLQNNOMILOQTROJHKFELPJHJMMNJPPKEFEDEKNWa^UPQLOTQJMTRMPQOLJE@EMMONQJMMQPMMNIEIQTSPONWUPQRMNMBHQTPNVYQNNMPY_WNMPHHTZQW^__ZWJO[\YSMKG;Ff_SRV]b]PUd]ZW=?KYUQKIV]]QWQC8K[\YSRKGLOMJGQOLQRPLMPRPSOOSWSWWQSYYUSXQMONLKLLQRMPRRMKRRMLNNFJLRTSKHKLFHIGAHTUQRRX[]]UOW\VTSVVXUNONKC=@FNPMNU[^XGJRQOMNRPMNSWYYSFAFLHJMVSPPRSRQLRPRQVWRMKKJEFJPVWUNJNQTYYYSSVZWQOQUVX[[__cihc\W`__[Y_`_ae`WT[ZVSWW[[X\[VS[[\[Y][WVWTWXVQRZ_ZQOUYWOUUW^`ZW\TMMUUSY[ZYYPNUZXSKNPTTRF@Td^O87->PTSTVMNWUXlskTU\[USWVWPXWOVMUUSYZRTUYX[WYZcc`\ZWXZ\[\c_UXYWXVXMUNRSWZ\YZY[][WNQX\_^Y\[VTVVY__YRSY\]SYVVRSWSQZZUTXYZWVWZYYSSPUWXYWVUTPSPZWYZVX\]\\UYZWRYWVSX]`ZURSTVYXYUXVWOQRNLQUSWW`a]YSWSMQQRQPOQUULRTUWYTOPSMYKRTTXVROS[`\YWVWPSRWYPXXRXYXUWYQUWWXWLRTWUUYQJLNSSVXQLPWVUVSUUVSPKRPMORNPNPIXRVXSTUMMVLQUXZURTSZ[USSPVRKKROUQPSQNMQSURTPIORUVSSSaQGJUUMLNIIQPY\ZSRRPMFHLQRSSWTKEHKW\TLKBFHORTQH?AKVUOTW\^XNIQWYSOOPRQOGOSVJIMQPTWNJPSMAFNJHGHMRC6FKNMLPMEEDHONMNRONSRKHIDCHMNUOKONHFJQQQSQLFQVOJLNTQGBIKE?FILVURWYPKMSOHJPOTWWQQLNMIDEMTTSWPDGOLGNPNIGKTNMNPMMPLFKPSSVVNEAIOUTVYUVVVVQOKKMQQMMHJMNLHINPSOCDLRPHHMOSVUONIGIJPQMLNQKHMIHUTOIKORRQIFPTZXQJHMMHKSZ[SDGLKNVXQNMMONPMLIINMLSXWXZYZ\WWVNIILSVUTLFNQPTXWOMNSNKIQVWWVTUTNLUYUQWTPONNF=@HTUMPTPNQX^WVUNHHONKUW\ZWSQSYVRMS[K?RZ_fobM>>P[ZS[^_\UQQKPTQU[RLFLSS^__^`SJPYZ[XWYWRMKFOWVPNXZXW]_\RPOPOMKFKNOSRQTWUUX][SRRX^`[VLJQWPNSUOJJLMUZTIMPYZZUMIGIQKDPUQPSNRRNA?IQSPRTSUUUWUONUWOFOSURRTQMMKPLMTWRLPQRKHQZ\WUUSQNJFKRRNOORWUSPOKLPZ]``^[_konc[ceiojYRURPV^dbcd`[^aeda]\[`bda\VNOUXUTZ]^\NQZYMORRUQQJCFOWVQMOLOJEJNPTPPZ_YQQPQST[_b_YSKSZZURYYYTRFB>?JXXFIORPGORQJOVTOKIEHT`_diTD_9R]W 0.S[bb`Z_kaSRX^X^bbVXWSUWRMSPPWVP[`bcc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`cb]XTPPLKMOLMOKJLUUVZ[ZTPQRQTSJPROPWYTEBNLKMNMMRWWXYUGLMEHVQLJMNMQQOSWVLMUSRQJHLGBHKIKOMONIGGLRKGNOQSNHRXZUSRMC@D89RULGPRIITXXTROHDIPRSV[_\ZWTOOWWRLOMKNNJJOPIKNPQVYSJJLINRNIGHIJPWULELRT``\OKROKKNLORSUUSFANSTPXaWQC@JOJAH/IY^W?FR][^[ORUVOPVPXMLRQUNY[^YROSWYWTQSY___XXYSZTUUXWZVYUUUWYZ[WTQOX\\VPX\UMSXUYVNPTZYWVVTTRRVWZX]\XSOVVWTZUXXVTRXXVT[^\XYVVWWPTXVWVWZ_ZSRXVY\]^\]_b]UZXWXVSUXVYZY\XUV\]^^^^YYUZ_a]Z][VVUUYVVYYVRSQPRXVYXWWVXWUXWSQSYVYUTVRMRUWUWVYUXPMXZLQVWWVXVZVWYUXXWVXYXXYVWXNPX\YUXWX^[WNUMKOLWPOKVPNWYVUPTUQQVYVTVVSVVRVYZWQUSTRSUQRZ`\QRTNJTTHLKNPQRVUWWUQNSHDNSWUUTTURTUXWYURRTTNKEGGGFPZ[ZZW_`[TQG@ALTUPOPLCLW[XPJKOMMKLPNIOQTVOGKINSRQJB>DKPRUUUSSMECKOVVPHPRUXWKSUONLUSLGHLJKNPPLMLSRTMV[]\][TNNSUSLIMICKNNTXNGPRQMKF:APVTPROLQPKPWWWVQNFB@IQUWTOMPIIPNGFLORQMGMNQTTNLGPSNF@FLECIQUXXYYSOSUPOTNNNOLHCIMNTVVVURMQSLPWYXMMMRTWZWQPLMSQMIOQKLPKEJLIDHHHHPSPHMKR[YXXXMHPPRYWOMKGPURTUNDCGMV`]Z]^XLHQRKLY\[TQRSMGHNWXVOHBKX\VKFJPTUUH:JLLIHLRNHFQVQKTXXSNLPQTMEDJIKQSLHCFLMOJJHEGPQLKKSXURLEFPQPVVRHJIOLHPTMD=DGBIKMQY[TOKORYZRSWWTRJLRTTMGNQVQNLRVUKHQUTMKRQKEOS[WOINNLIHGHIGLOROKPTTPHHP\b_V[]XTSCJLEJQSKMTTUVPNPQTYSUQRSVYVKMVQRZ\[[UOH]]\VPQYaaaaYVX]_XSP?*YSKCObchie`]]POVQO@;JINU]_UKGQXUMNZ]\ZRRQSZYSRTWUOMLJSW[UY\VRV^[[XYVPLPOOMKGHILRXWRPNMIGQVSVTQCHXXHITUNQTMNW]YOHHCHV[YSHCEEPUSPQPOVZYXZZWWWURWPNRSQT]^ZSUVPKMOPRMIKR_c^TOHOQOQWTSPWXVUOOUWRMMQMLSNT[]]afhfaYMWhnl`VRUTSTRTUUTQLGPVUUZaaYPUahf\UXZW[`]XZYX\^]_c`[QSY[ZTSTT[WPGS[[WWSOX`^XLX[XWSTVTOSQTPOVYX^[TOIIOWVNRPSUXWTKLNMJB?IHSQOXUUEIOTXVSTTTQKPV[YQMKRRMIIHA=CIMLNKIFJKOMJOS[ZUMFKLMMJHHOQNJFSXYSIBIKQOKPPQQOONORTWV\^XPKJVSSKCIMUSJJNSTNKJXZOJNJGRQQQMJNYYWTTMICJJMRUUSSUSROQV^`\^`_a_TFNLMGHCEFFLTQQURNPOQQLHIPSTYZXNSOPSRFFW[XUYW[[`]YWMNRTQPQJ>?SHGNZig[W[cdXVRN[RILNOOOUUONVUVRZ``YTSUXVWSPLQWVLUYXVZ]W^eaZXQUZZ[\XNORQNHNUPSPUWPNMMKHQTLEJJNJOTNORQSUUOIRVTOMFJLP]a^PKONSXUOPQMW[ZUZXQPMRY_[NTVOP[^]^[SFIUVSOKGCLU^aaZORRLSVYUSRTUTMT]`^UPTNOQMOUVX^\\_d^[Y]dd]\[SPRRPKPTRQXXQRVOQX^^YVZcd[Y__\Y[RKJIR\[TSX\]\PT\WTPMTZYRHT]_]YRMNV\\Z\aXWVSWVQRTWOKTUNKLGPUMPRTNEBIXZTQPJKLECEMGJQKJQIBWbYLPR7:HV^cVGGUBVhohXa_ipb^__YUSXVYVWKLQSUYXTSVYSLUTXZ^ba``_WTLV[X[cb]WWVUXXYX[[WVPTUWYWXWSXOTXUWUZ^^YYOVZTZKUWWYYZUSQNSXYYWSV^gd]XYXVV^`\W\`]XZYUNPYWWXXYYVYZ_\VYWVOZYYWVUWZ\]XX]gd\V[[[YRMSWZXXUVZUUXVXRMLQOKTXWXPQUTWXYZZVYWWVSTWVWYWVPSWWWUTTPWXOOVWYOPVWQONNSUXZ_\YVYWUTUXUVXWTWXUQKQTVUVUSPNSZ\\YYTUXVOORPSSWURNLRTVVSSUMPQRKKQSUPTURRWOLQTQTWUSTTWWRSUVQNRVXVPRX\[WWVZ]^ZPLMLHIONPWXWTYUORSJLKBCLXXRSSVVMCHUVZVNJLNNKIMEKTVVWZZWUXWMKJJQVTLJLEGNRIKQTMGGCLRWRSUSNMOLDEJPJFNPONN?>EKKJNSRRSSLHNRQMMKEFMNHMRNHJOROQVWK?@FOWWGEF?HTTNMQPLKFGKUWWSRQKGMOPQXZSRQOQXVLEFNPLPQPFCLOMLPMHOQLGIJQRVVWSONLMNRVWXRQQTPOSUMJJNM@GVZWVTSVMIMMD>GJJOSUUTUYTOKNVWUNMOOOQQMQYYQPPKKTUQIKRRRUYZX[ZROQPPOHQ^aZRIL>GUUTPOLMOMNKEFNTSNNPJGLQSH@NQPPKHILKSSJHFJTWURUQLHKQVSONNPQTVSVUPJGNUSH=KDOVVHEIMV\^WMOSPNJECLRWUQRRMPTUZZXWVY^`ODRWWNGIGNPOOKMSXSSMLSWURUUOQJFEEIHLHJNTUSJKOMRVWPHI=>EKI:FEIPQUQ[_]?NR@,fjlc^ga]JUYZOXQOVUTPNPUX[ZYY[`]UOUXYYZcb[Z\YUVVYW[\_ab\WSTYVWUXVVVYVYWUWQQWXTRXWU]fg]RLXYVNNVVXXYW[ZZWV\[YUZVT\ZYXYXUQRTSTV`bZV[YZYWXZPTZXWW^_Z[^a^YYVYWXVWZ^[ZX^hg^WSXY^VTUXYYUWWWYUX[ZYNORV[ZWUVWWVVUZ^[XW]^\YWVW\ZUVNSKPOTVXWUYVXPTXVNLOOWOPUWU[Z[]^XVYTNPKVWPPVXVYSPQTUYZTUSOWX]ZWXVWWXWUVVJXRVXTTOUURRRLVNQROWMUSLWPSVSPJINPOSTUWSJOQVVSUJJORTQRPQTRUY`_WRLPSMDHNMQRUPMV\ZXOHGIHGPTUVKGOYYUUXRSTORONTRPOLFKUTORZ]ZUPOKJHPY[[PNH?GJLOVPJHEEMSVTRSQJMQWSHMPQLIILROF7>LXZUPMILKJFGQQKJHEJOHFEBFJOPMKKRTIDOKIWXLMKEJPSRLNRZ\WKDGNLKILPRROOSY[UNFIGNQIDINPSVSLHHDEFFPTOSTOJHDLOLMRPKKIHKOSWWROMLPOOKHHMWWRSVULMLKOPIMJMOMONDJMJOVVSNHISYYWSOSTZVMLUUOJIJIKOOMLRH=DMQUXYUTOIDILQ[_XNHDHOWWNLMJIKMNNMPTWUTSTRGALMMGECGOKHDHQUSOQMJHMRSOCDONIJKGHHLSZVMF<:GOSTBJJEAIPLMQMLLOQROIA@HMTUO>@AADIQQRTUUPNTVSPLKMQQNPLGDHPVTKIFCDKLNEBGHDHJQUYUMMKKLMKILNPRQMMPRJGHHIMJE;BMSODIKPTTRNA9;CJJ@BIKHIMLKMLEJPSXYZUORQJIQRQRPJIQWXSMMQPNSSRKKIDDLTUTSQXXPNOMV_]QELQMMTUMEJOROKLJHJRUSQMORV[\VPPD2>KWVPQRH=LLOTMJPKMRVVVQU[[RHCSYYYM8=JRRXZ]V\_`ZRTXSRZ\\Z[ZRWUKQVXRQNOOVTQTSSVXVVSHPUTRVVQJEERTRWWSRUTRNLKLVWUTTW[YVQPNMMKGKRQNEHOSROKALNNQRVQORPJLKQQIJMQSWZXQOPQSVSWURVWLNOOIHMRLIPWYRMTWW\_aWUY[SOT_^YYWV\^`^ZTY`_Z_ZRLKMNMPRY`bgeeha_\^YTSXae`\[WXa^]``[YZXONLQPTZ]ZYVOKS`ddd`YZWYZ]_`]SMDNYYNSXTRUVVX[[XZYUWVUT]YUTU]WYZYXVOVSTQS[WTTUOOLNMSWQTS>>ITKUZSDndK\ib]dWZVUTgppm\be[TXX[`WVYZSNXMXZ]VOXUQOO__XX\XZUXUZZXVVXZ``\VWWVSQUTUVY[]`b[LPNUXYYXYWWYYSXVXXYXSKSROMTWY\ZVXW]`]\YYUYXVYXVYWWYZXXZ\ZVXYWY[YVZYWYXVYVWSWW]a^ZSW_b^]\YURZW_fb]YVWSRNRVVWWXQQUXWTY]_YWPSX_]VVVXWRRVZ`^ZYSVUOQQSPQMLXUXQQPSZWW][WVTPOWWVX[XX[YWWXXXPROOSQQY]YUTTTY[YUXXUXUPLRVSQPRXVTURPPPQQQPTUXVWSPUSMRRMQVWVSWSPUQTTLORTURVUXVSSTVP^SJRWPSVVTPSSVQOORTPRPRTX]ZYSKEJOYYTLJJGJRNMLGF\dc]QEEPPIMGIMROLMUOIHUZYROUYRLLSIGOUQMRRPTOGEFLQNFDEMPXXRWTQVUKLINMGGCGACIPNJMJMPNC7DPONNKLLIHCIQRUZVSJLQOOPSUSKLSTOUSKLEBJQSNJGLLJNRUQIBCGHPRTTQTSNPMOOJJOSWZWTPMRSTUNLQTSROQJKSTJJJBIKIHIVYXRMQVTOOMOMJMMFMTRVYWTOKHGGGIJHIMMOLKJJLKOKNNMOSNMPPQURRPMNQQQPRQOHIJKQTKHU][WTSPVYTLLLFBHKNVWWNMIILKIMNKINPONMMIMPPQOEGJEGOVUPQUSTRTURPPKEILGIJGBBLOMLLMOVUVVQD?CJMMLMVVOHLRPOKKOTTOLMRXZQMROFHHIIGEJHBLSRQRORLBBGKNHDJKJFNQNNJJQPVTXZYUSNJEMONQPQOPUZTJQVUQS\[VNLEGSYSQOQSTGLTUXaa]PU[XOYYRJITYXSNJKWZSOIQSLLTYUQMHFITZZVYYUKEJMTUPUROSRMOUT]aaXQLM[ZLFOVW^ee]XWZc`SX[XWMKMVYWLMLKRXTTQNMSWVPLHLOSXWWUTUMIPVXXPENSROQTX[YUPNNT\`YPHJUYYWPOMQQMKW\WNRVVOKKNLBJPW\UQOSPKOQSJDHJMOKMPMMOURQOJLKFW^ZMKJKMJIMTUTPRZXTUWMUQNQQVOGIKLMPSXXVUZ[^caYRUTQO]jjg\Z^aga^^]^feb^ZSMKKKORSV]bcd_\ZTRNQOUV[[Y]]UTY[T[]\[`[XSIBFKV\]XWY\`]WWaa_\[VSWVQSVWTY\WRX][SPUWRSXPQVWZZ[`gd^TLS\]^VVYWOSWSRUOHX]\VMPSILWbgj_ZUN!8GXgR@;A@@(KHVW_dfZXahfXJUU]`^][XOSKOWVXTS^caTX\]USXXTZXTV\WWZV[a]VRVYUWSTQSUXUWY^VTORWURTXXVU]`XWXYXTWWPVYVRWZVYZYUWXZWYZVXYVUPOTXWVWWYZZXXXYTSNXWUYUWZZVXVUXVVW]\UYX[\XWZX][ZZXf^XUUYVXUXWVU]XONMQQPWY_\YYXWYZWVSNRRPRVZWTVVWTUXTXVRMPVURMLQVWVXWWUZYVSSRRVWYVXUTYWZYLLJTUTOXZ\WXTSVUVTUSWTWPOTXSMMKNSUNQSNJTTTWWUSLKSRPMMRVSTURUVTVVXZUXRUSTVUWUTWSTNMLNQP[^]WXPQWSUTVVVY[WVWXUY_\[[QOQVUMPPMGAINLDEEEMVXWNDJSOMNMKKNQQOSYNHFJNLOWZXPQXVOSWTLOPKNRNMNRPMGIOUVUNMXVPTVSPNDDCFHJKGIHHLNMIHA:@HJMPQRKBELRTUSSTMJIDENPKBDMSSNSUUJD@?JNE@FE@:?JLKKOTXVTUYXTNLQNCAHOUN@CFHHLMQPPIKOXUNMUUWSQMKE>FKKRRKGKNSROKHMROFIMKKPPPKE@LTRQPRUVRQQNNQSLMLMGQVROTVRJNXZWSLHFLPOLGILECLYVVWXTNOTMHTXXOHHNRUSMFSULFIIFMSVOLKNRNJISUUMTUPMQMFCMSLHNSQOV]`bZRPFEFZOM_XZYZ[\ZZXYZUUPP\]]VRZ_a[TOTVQRORQTVZWQTUVZ__`XSTUTQSUVPFJNOMOQ^b^XSRVX_b^OFEOVSUVSOQWVPY`^[YYRPPR\[OEISZ\XZWOLRVVPOSPMOPUYUWTSONOX[SGP^]UKKKLMLOVYWYYXRPVUOQSVTWVSLNQSZXXVUQPTW^ccaYXXRQXckhbZY[``]][]``ZQMUQRRRNPW^cef_UPRRIJTX]\YYYZ][XVQT^_\aeb_YKHLKTX\\\[`aaYRUYUPPPSSPIOVQNT[YTZ\\WYZaa\UONKT[RY]`^YQGU\ZWSX^]QOTNQTLMU\ZWYGQOS[YdieffSome]S%5cliPCPMQc_XW`adXUUW^a_WTWMQRVTUUPU^b[W\[UTWVXVXWZ[YZYXUWZXYVVYXPKOWUUX[X]`_\]]WXSSOLZOZ\XWVX[Z]ZVW\YWSWVMTWZ\WWXVQRWYWPMKQRZVWNOWRYOYWWQQVZZZZVVZZXUNOVYXUWNTXYXWUW_deecY`ZVYXTPQWUPTYWWRSTRNLLRUXZ\\\\UTSTTRYYVRUYRWTVRT[[TRQOVUUVPMPQWVXYWVZZYYTOTVNSVTKPPTUYUUXYXVYX[WVWSWWXWUXWQTUXUTWWNRKNWWVTUVPPXWXWWWQQNPOPNNQRQQTQNTVUWZZWRRSTRQSUSSLIJWUXNX][]WPV[ZYVSPRSVUVZXNOUUVQRQV\\VV[WLGGJLHKIGKHPVPFOOPLKNQKIPLFQSLIB<@GHGHIQSOFNOONQWWXURRVRKCED@ENVYTMLJQOOPOFGHJKKEFT[\VRONUUQJLRRPJEDIPMJMVVODLQRSQPOKIOUSQOUUKONECFLQPOSMLQRLNFEMUWWRNMMQKHFMNJINOLGFHGHIORUVTINXY_^UOTUOCDJUWQKPPQSLKSNG@FHHPPSWUUSMJNNLRTTKGKMGGORQLENPONLNIJ=>DJJMQNHHGKOMJQRRRZ[ZXUZ]WHNW`c[SID?@HOPFZd^ZVMJRQQ\UGAHMQ[^WLPUYMYXVTUTNRW[VTVVSPVSJOVTTVVUNJKKJEMTPQSSRQPPTIIKLKMNMVZ]WSPTVNHKMSP?CJTYWOMLNVVVRKLQRRMDIOIBEQUQTPLQVWMINSTQHNUTUWZWZUVZZOFKSUUTPQUVNMOPOKJORSTNLQRTQOJLSPSSWVRORIOXVRZa_\VQR]a^WOWZXVSQVVXY^iia`^UV[_]_[Y\ZX]^\WTOT\ZVVX[]_bb]OHNOMPTW[caZPNNOMNKRTQPNQUW[[XKCCEQY]\\YWWSUUWX\XPMONGHQVUWTQRSV[YY[YQGIMX]_Z]baZVUYVV\Z(->=><5J\gVB1>%Vcfgf\TXWSNSJPW\PXWUSNOKSUUXWUY[WSYXUXYUUYVUYYW^`[[XYTWXWVVUQXY^]]]]WUPVTQTTW_^[YYUW[VYYWVZVRPWYQQRYVXWXRUYWZXZ[XSWZWWVVVWVWZZYXW[_[RLWWZYZWXXZWZXWTX\[VVYW[edeli`VUTW[YVZZYWTYWSMNRUXU[__[ZYXVUWTUYTVU]YXQLTWY[^[TPVYYVWWUWWXWWQOLNOOVVWUYWWWUQPTQVQZ]XQWTWTVZVVXVZVTTQVWWVWSMJVY[UTYZZ\YXTVTURXXSQUSVNLUUOVUKKSPOSRXWWUTSTUOUWVSTVTTSQUTWTUM[\YYVUTWWVONSOMSVVVVWZXYUMGIRRTVXXVYUNNTUOMVXVTRNGNPOSTTPIKONX\ZWWVOMMLJDIPUVROHISULENSQJLONTSNMLRSPKOPNKGBGHKTY\RGDHJHILSTJER[YVTRMNJMGFNSPNIJJKPSMJDKTVUY][XUTKFIKEDJRVWGILQTWYVSXUVVSMNJISVWUKGLSVQNOOHIKKMONQPNKPSPPNMOQRQQSSLNIIOOWWUJKVWTSWWSLLKPNGEQTOMRRRRNIJHKJSYUMJRSPPQQRQQSLMQRLJJKLPOJINQPPQRUSTSRRVPEBHNRVYYTY^\XNMCA@HSWVTPLHNVWPOPHMSSNGNRSSMJPX[YYQKFJOQOTOTLGLOMGIMQTPKGLQTT[`\VROSPNLQNMPVUNRUVTSOUTLHHH?FKONOMKJIHJDJNSOPSRKQZXXYUPHBAFBAGJRXVTSLEETVROMDGJOLMSLHQX\WXTSOPTYOHLMPKKNNUXUTRTRSUPJJIJLNNPTVZ[[TMNTY\`]TTUPEHQUOQ\\RHMTONQPOKPQRXZUNUYNFNQV[ZWUVZYVUTVYZ]UYV]ZUT:;UR`fghaUURUVTMUZVQW[NJRZYSNRNPTXUQMQRQTQKRSWUQLQTOKOMJOVSHGLRRTNQNGKNLMVYWQHFQ\\XLOOSSJFHOLEJTRSNKKMSSTUSLHJNPPLIIFGMUQPNNPPWWRPRSWVPLMTWZWV]`ae`VNONVUTSV[YRORTTPLGKOSQJHJSXVPT\[XSMMMROIJLNJLPXXSQU\_YSNX]]TUZZXVZ\bhjjdYVXYbef_YSXYWVZbc^_[TV[ZXXad_RIRYVWQKOZ_\UWVPNSUWXY][VWWWPLJONORWVZY[_`_YYRU\ZRLKLQENVUOKIINSZXTWZTMDJT\YZ\_[TCQY][^WH>FPOMLU[gdM!O_dRfkolYMRRQU]dcPW[YUSQUXXULWXaa[XNUQWTYWZYSRLOX]`ZUUSVTSLPWYUWWZ\ZXUPRUYYUWQVUXZZXUYSVQUVXYUNNSQNRV[]`a_UVZ[a[YXVYXROOXUOQSWWYX[\Z[XTSXWYZWWUXYYXUXW\c_VTUXX_`^abaZVW][WVWYWUOPTPNLKKORVYYVXXYVVWZYUWOV\ZXONTUUZ^[PMWQXXUWWYXYVTRQPQZWRXXYXXSVUQSWVTMQWVWWURRUXOWTWTVTWUX\XTXWYVTUVVUZYXZXTPTRSTYXYUUSUKKRTSLOQPWVRSWSURLUUIWJMSLLOTUVTSQTSTTRLPPUQQVZ]XNMSUNRUWVVWWSMNROMMLKKOXcdXKEPVOHMQPSPKQWWSQTOOQNKIOYWSPROTSTRMKT\[ROLNOSOJKNGHKMJF@GMRWUOIFHKSSOKOROW[TEBHKLLMVWQ@IWUORRQLRRONRTUTNHGELQQMKNTVY]]YSPOMKMNORUUUTXKQPNLPVRRSVURY\VJJUSMGDHORHGMLMOLFJLMORMNRSQJKLKJMRPQSOLLMKINVVNGOVTWYWRNLQRWOKTYSUXURTPKNQKKISWLKPSSLJOTRPQJIIOVTQFFEJOSMNJLNUUWY\[WQMMNKLRQV]\X[\XSLOOJRTVRVYVQQVWWRQMRXXPJIIKMPJORV[ZQROPQQRVSOKEEJGKPNONOJI=DFJPRUPOLGBFFHLG:IRPR[_a[RQSRHDBFHJHMKHGHLSSRLGFIHPNLMOU[\ZRKHFIFKKLOOPMPKGILNILKKHPNJOTSLNOIKMMHJLTYXXQNQLIJQYZXSTQRYWO?9IOKLOOSPMRTPPV[ZYXVSQTVTMPXVQORLMW\WVWVSLFIKUY\ZZXOLBDW[XSOY^]ZXUT[_VTWab\SXT>L^ea^]_YSD>GEV_XLKQYRUVRSVSKDLUWZYRDCITUMLTWZVONNFBKNMOTSQPMPWTTNNNMLLPV\YVSPOS[XWTRRRQSPUSNMONORPPONIJOOHMRQSRPKFHOUPOOXUNLTPQQSOOUSLSZ]]TPTX^bZTVQNSVZVZYXUPLGLLLNQSRQRUV\`]ZXU[ZSHN[\VKORXYXR[\XOT\^UMP[kpc[a][YX[^\aef_XXV[e`[W_b^][bfffd\RRQQTT\^YYYYRSYWNDITWSX_^VVSSSVYTTUXVPRSXXVWZXVSONQ\YSKU^^[OHHENGOSUOLIHQ\XWRNTVT\YXSSLKPBDJUWUXPAHOPVWUQSULMR\a_YORSPNXZTRRYXXXY\^\Y[XRQVUTUSRUYYUOMLELPRJHR[a]XKFMSTCJPWM7EPHIQSM_b`]RFHAGX`PJLW\WOMELNMDJOPHJMMPQPVVTSUXY[THHEFTVSLJQQMHJNU[SQRRMLJPQSUY[USSRWXVYYZZZWWOJGKOQRRNSQNRNHLOPPKNOONTULMRTSNNPKHQVTVZWKNV_bd_]XTYTMRTVVUSTWTPJJKGLTTUUNOORWRU^_\]XPXUNMV]TQSX\[\ZVVTRWa_XXYartla]YNMSVZQPW_`[[]ac^TYdhfc]afdbbZVQSTZVYUUZbbYSVNHNLSTYX\]]XXROTRRPQTPJOX[ZUY]YRQQLR[]RRQRX]YLQSWWQOMONNLNR]`[QUY_ab_Z_WFBF>OPSAHULA=ELUVRUURNQTQTROL?9ETUSNIMQORRHGJKKMLPTPFQQSPKFIPWWSLHHJMORGHNTTKNOQPHFILF?GUUOQV[YPKORNNOUZXTPNKEFKHKNMOKJHDEGOZWMHMTQIEFJMJJKGLNNLJJLRTUUWYSMNQLKNKIU]ZWTQLHKQPM==EKTUQUWUPTUUQOQQOQQSFJRXXZZSRPPSQXdkcVWZWN@Va`YKIMPPONOPRRUWUSTV^_YNNOSTKKTSMMRPNJLKOSTOPWULGHIDJRTKBEIOKMMONLPSNPNQOD>KX[VNGIHKOLRLPPHCOQMCMXYURGEFDDGHLOLMNROSSKMLHMPOSSGFKKQRRTZZ\YWTSSVSROS]URYZSTTOMONOSUTSNPRRRVSLJSWZZZYZZVTXYWQNPTUWZ^WURXXKDIPQTVOHRXRC1AFNTPRTPTYVMGIBKKOOURA=CALSG/>?Y]WRRNJM\\LENOWQRXZUGAA=LFP]AGIHV`fc_RVUOOTZbc`XF<@FPRTURROLPUUVZVPNR[YNU\\VNIHFGNQIO\ZVLE?KOKCAEAGJJSQLFOUXREBLPMQSOHCEKQWOGMRPINRVUNKOKHU]c]TNQQUXYT[^`ZOGGQSUSOGGRZWUWWVQPSPMNRGKPRTRQTQHKSVXRMNW^e_WXa]RQZWTOLNOZ^_`\[Z`__a`Ygsx{zukb_MNOQSURY]abaa_]\_YX\]^XVWVST\\XVX]\\Y[YTNSY\\WQVUSQSSU]^\VPUUQTW[Y[XPKNRSQWXWU\``W]aaUKRNPWUNJQWYTMZ[PIY^\Z]^_VRDCLKFO[TVNRQYYSCAMSMdfSWbVSWox|TcfdYTfjfV[`c]`_X[TMTWTX^ZWWS_]^Y[Y^^VNOVWQPKLTUZYVXSNQV^]\TWZXQMVWTUUVW[XKUUYRQVYPUW[`a[[[[_]ZVVWWXVYY[^_\[WTPYTXVXTXZSNYXVXYVWTW[[WXUVZXVUWUWXXYXPPV_`YUWad_YXX]WUOUVYWTUY]ZQQWVXTUXTSQY\^WXTVXWTRMMSTWUTWYWLOQZVVWWXXSTUXWWVRVVUNUWORXUWXXZ^\YVQUUY]XWTVVXXSPLUUZXRUUSXLWYVWKPQQWXTUUUVVQXSOSROJKIWMRQSVVVVSUPQRTURVTVSVVSNMPWWSTYYWWXZVSWVTWRSQRXUPJMJKMSYVQMJOPOSUPLQQOQW]a\TMNPPOMNQRORWSMPURKIAHOPSNJJONOVTNSTSSMKMNUUXPJJSTTRMLRUQKHJHJNRXVLLGFPSOLMMOKMKIJOSVUTUMGGENRLLKHKLOTRPSUSOOOSQRSSNMQSOJNRKHGMMKSVVY[YUGLMJQXSLEIHBDIMHFLRMMU\\WUSMIKNOOUZVVWUSPKFKSTRLNOOXTOOSVTMFKOPJJPMGHHKPKE@CJIHLLMPPQMFJPUXUIHTRPNOUTMNWWUOV\[UH=QSLKHHSXXYXVSPMRR^cZTQPNMP]e`XLQUTW]\UOOKMOSSQUZW[_^[^[LHMVQSQMNUPMNU[WNMSY[WUVX[\QLEADCDJJDIKMMJRTPSVUTRQPUWUNGFLKHKNRUYYTOGHIKILQOFJJHCHSWVQMHGHMOPTSONILQSQQKFLLLMOQSJ=HOPLRSKMPNGIGMJIOYZSQUNPSUVVXUNNTNFHNNOQWSUYRNPNMOQJNRQPLJMKKJMOIKMJJUWUUSUXYXLBEKTTOLBELKACINNMNOPRSQPMKLJGGRQMJOPR]]UTSONJPLXUJCH\hd[TUYSXWXYWYZYRTZY^^XOKNSVOMKPSNRYYYROWUSURJFDMOMMKWXXPEFKJKOOGDJRWXQNQVTLDGMQRSXWSMIIOQQNGMNLPUVUQMRNCEY__UPIMQXXV\a`[VQSXZ^]UMJQUWYWOPTWZZPPNKPKNQLDDHEHPTVRNQPYYSPdmi]WUSSNOORVZYWWW_bXQ_`\cpxz|yuqjbSNJOSY]bccb^\VY\YV[^\_\YST[_]ZV][VSW_aWMLSY`[TV\\[Y[VZZPOTVNORXZ\[XWVTQSRVZ[VS[\[]aaVEPVRVMNSQVTNTabc_WYSR]_ac`]X[VX[[SVPKJP[RA/I:;PajlriPHldKca\V[f^VKUXVUYXRVMKSRPY``TTZ]VW[YMTSTQTVYWUUWXZ^]UVUSSRY[ZXY\XXNTVYWV]_aVKSWWYZZ]YVYY`\XUYWZXXSMWYUU\ZYWXYYXRXPPWYY][XVSWZZYVWXVYU[\\^]_[[YPKQUYXYTW]a^XZSWWXXX[\XWVSMMLLQXTPNSWVQTTTOWLUXXUYUUTUKMKPQPTTW[^WTRWZXWWPUUZVVYTTUVYUQYZXVSPNWXVUXXXUSVUXXWPTUWSRRONSXUSSUVRRVYUQOUT[[YV[[WWUVPKWVURKXOSWTTVUVYXXUSNJJIVNSRPQUSTQUUUVUUSOOU[UPRVUSWSVTUQNMNLIABGNQMBBMWX[ZTMLMORT`hh]RRSQRUYWTSNJKKNNOSNPPOMPRPOQMKRJILOSTPQRRSVPBBGOURPTSPJMMMIPLKNTTRQTRTVNGKQNOPMGCIDJPSWUPPVXWSKIIFNMTWVWZULIDDINSVOHFDDKPKFEHLKKIQTTQSRNHIJKOPIIKKMQQTTMGFFCJPRMIOKLIKMMPNPOT\ZTLLPOPOMNORUVRSSTOJMQRPOMQSPMLNOMKECIOVVSUWUUQLPTTSRIQZXQICIKNPRQPOQUTVUOVREJJHV_c`\YWQHJIRQT[]_ZSMT_e`VOPMWYVRUOIGNPQNLPX[]\W^QLURPROGJW[RLNOMHGISUXWXZZ\XJ?FMOIGCAAQQQOTVVVWTKIONOTPMMHLPHEDEQZ[WQJKMNORWUKGJLEJOTPOPONG@HQRLSPLGIJJG8=MRSRPRZ\UHJLLFFPPJIPRPMKIJUVZWSSTUSPOQQHIOTQPTXTRSVX\UPQSTRKPQRRUQNORQOJLONRRNUYSPNJSWYTMKNVVRDLY\UMJLLRRQZZNIXZYVEJKMRWUJICOZUNGLDLUVLVb\CGRWTYQKQ]T]db\][ZTSUVWXUMHQRVVSOLMKOTTLJNPOMQUROMMPSSSLFKOTMJJNORSJELRWQOMIILQPKKOOQKOTRRMJOTSMA9;>EGIGCNTUOLSRSVZUPPRTWWWUXTTWZYYPGJILQUQNRVRUWQKGKLNQUQPNKNMKKJQQOGIQRW_eb\V[`^SFFHKQUWSQY^ade^Xepuvrljrrkh`[SNPRRSOXYW[\[WTX[^aa_SMZ]XVYYTJKT`ee]TSY_]RNWZUW\^_\YV][XXXXXWUTTUXWVVUVTWZWQTU\d_XYZUIDOWVWVINV]de`RMKIPY[\[X]VSX_cd]\QUefXB+BNB;FXQO]T.XY%N_Y[b^TZjjcYWMMUYUSX\d^aVWP]b[USWUWQYVWVYXW^ZUUXVUQRSMPSPUQUTTVVNORWWUUUWYPOSWUUXWW[]\\`]UXXYY[XYXXVV^YWVSVZ]WLPXVXZZXX\`^[VWYQWXUWTWWV_]ZXWVUTTZXZRW\[XZXMWSZ`\XZ]STQXKKMYRVWUXXUVVZWXONUVWYVZYWSKMOSUQSTX`b\VZUVXZZYSUUOMUYVVYXQSY^[XTTQRUMKKXWTXVQUWUSPYJMLPLVKUYVXUWNNV]WVPPVW]]ZVUWWUTVWTWWXUSXYWWVRVRYZUQIRVTWMQPPMQQRNSVVTXURPTPQRSSSWQKTTLWVMMRUTLLEHQPOJFKRRRRPLMSXTOQ]b\TRQW[YWXXRQOQNHLNRWTVSKNRPQWUQORRNKMHBGKINWSKLGGQSNOVVSINMOUVMKPVURVWTQPPSSQNMMKLLMKKMPWW[Z[ZUOLRVSRTOLRWPGIE?JT[ZSMSOMLPNDJJJMPNKKNNPMLMJISTOKKRTX[\Z[VOOFFBJMOMFFITVXZVQRPW__VMOOLLMLRNILPOQSWPKPVUSPMSZWMGMMJIHLPRRSKOVRRNOTQMMPPWZTMJHQSXSNQQQTOMRXZ`^YPL>FSWVUTUVSONONT]`a^UPNMRTLHEJMNHMPLOQX[WTOPQUVW[\\\XPKPIDLRTQLRPRURONMMQUV[^WNGNQTTNNMQUXTSSORWSNGORSNTJCHINRNKGBHPQRTQOQMPT\WQJJJCCGLRUNONIFKVUSLPUSKNORHEFERTPPSUSOQRLEKYZXVXZPLNPMOSUVY]]VOPSV[WQVYRRW[\\XVV]]WTVQLCMRPQSTNSVXSQJDCNRQQRLQTIOXZXTVY^aXOT[\`]ZXTONKSVYLL[fcWTWNS[[SMG@HF4FROMVQI_fZTEZ[XYVVWXV[`YRSZZWLNTLJA@OLDEKPTQKFGMKJHGINLILD??HQRPOLNKGFCAFMOHHC8CONLJIACJF@@IMPQNHJLNJFHLNPJDDJQIBINSY\XOHDINSRNTTWSTTUURKJMMORMIHDDIGHJMDDJQPPLCBSWTPMNUZTHGRWOGJRSRXUSQMRY]\RJEDFTXVRT[]fdWQ]dkjigipqiii`[SSUPKHADKQWZWSSX\\_[RLUUTTVWQMSY\b_[ZWUZZRMSUPPYY\YPOY^\VUVXTTZ\[SUUVZTOTYWUVX[aca`\QLRXUW[`_WPSY][TPV[XYOQW^_XNEQ^^Z[TUed_MC@6EDIPTNMVYYX]XPRRT[[[YTOP\\XWVTNUUSVWLZd`Yb]UIGX`c[QUNHHUOJ\^SHMPPNQTJNTZ^VVY[UMNR[\VVXTROPQSOSW\YSLIHE?GKKLLGIGC>@JLMNJGLLKHGJJNODBEDFICJUTRMPPICJMRPPMLMQSOJIMTTNOW\ZTTUUUUOHAKPQOPRTSQORXUSQKLNV][XPNLKHLHMMRONSOPQJEJQRTRHLVVMGPWTQSYTPVWKCAHTXVXWROJIMOT\__^\STWZ]`_^fjf^]\]XWYZSMOOGKPY[\XUUVW^\UOSSRY`e`VURWYSQXXTT\^XMRNMLNTWRPX]]YUWVROLQTHHDOZYZ[XSOTZZV[YWUQRY]WPS\d_[WWWSGOSZVPPKP]\VLFCMQSRE]dZI>CL<7-CluoUPJaq~phrutreYTX]VRKMWWTLMQR^Z`fec^XNKXXV^if]WUY\[ULPRPOUVVWX\ZZWRRRWTWXYPONQUVVXVRRUXORQVUXYYTMPTPTUTMUVXZOSRNV^^bfaX\\XYUVUWRRRRUSSVYXWUUUUYY\^\WYZYVWYWXXWTTZXYVTWY]^VVZYVURXNRYYYMVNQPQSRQNTXYUXXVOVYZZTVRXUT[[YWYV[XUUTTPNRSYVW[ZYYU^a_VWWYVWUUTUYYWVVQTXQQXWUWVTRQT[XWYTWVWXUTXUTZ\URPVXVWWNLMOSQSVTXVVWVWTMLOVWSVVWUTTSMNUSQOTVVRNNUSVSOKQRPQTTMOQRSURO\hgaRJOTUWXVUWWQSXWSVVSMVWS[`he`YWQLKRSOMPQQOKTTLINQSRTQOPMMIIGLVULMMNLHLTWXUSTVPGMNNRY[SKQTQVOGDFQWSH?BKPLKRW\XLDFPSX^iieVNSSQOMIMLNRNNOLKPWVUMLLHINLP^_WPNQVWQLMUPMKOOKHHPTVOOSUOIKNNLIIIGGW]ZYZTNWXXVTQPNRRS[ZQOWXTPLJIKKHNRSMKIGLRWWUUWWURNQRQRSNOQNNSMGJEKQTRPH?9=AHPSXXNKNPQMKOPLICMNSUPJPSV[ZPLMLOWWQWXUPT[XMOVVRILOLKOUVPIGFKKVZVNNSRMJOVROIOTSOQWURSUYWSOMPQTQPXWSHJMPTUQPSWPIKKOX[YY\]Z[VRVS[__[NQVJM\_SKMOC=_TMRXZXJSPQQOQN\WMRTVUUPMSWZYTKFQVUPLLHQRNONPQUWSJQQOKMMIFNSTTPTWVSTSQSSTSTULIPPQMNVRLKVSQPPRVTQRY[WWSNOTRHIPTVWVTQMHMOPTTRRMSWXXUQNOQRLGHRRQRUPMLHEDCHLHJPPUTNNRVWZ\VNTXPFOPSVSQZ\WSVOMX_b^YURPVW[^ba]_cd[\[XUX\YOPRMU\Z][\\[UU]_[ZSSSU\ab\TSV[XSTTONU][XWY\UUVSU[[XUVSRLORNNJFMQOW\\]^]UVYRPTNDOUVZYUWRV[\VOY_]VORPSXROKLPPPNKGINMM_qja`\V`KORbfOHGQZa]TAimedfgaVXWKUPLWQWQSed[VWUTUVTWZX]ehg]UVVZ[]VPSNPSTYY^[X\VTSWTTWWWSLNXY[XSSSXUUUZVTWZ^_VUUXZYXVYZ_\SVYYXYY`ehaYXXVVUUYVVUYWUSYZMSWXYVRRWZX`_]\VYXUYXQNTXVUVXVZ[Z[YWYUYTQWWWSRRVUXUQPUXWWVRPQVYYYZ]YXTUVTUPTWWTW[XXWSLMPXYXYVTXZ[Y]a\YQTVXYVTUVTRMMXKV[]XYZVVXXRSWXXTPRVWUTRMTPXZ\[XVRRUVTSSOMTWTPNMTVSWRRSOVTW[ZZWUXVVQTVURQTVSOPSUROSQMPUNQTTKQUURVSTV\de^RMRQPSYXTSQRWWTOLRZ]`^PKQVXXWVPMPSOQQNNMRWWSNGHOUTRPVXUSQPUZ\WMEGNPPRRSVYYWVNEFEBCKQPRUVPUWL@EISTTWQOGEEGPUM=KSOLKW]hd]UQRNOPNNJKMNHHFJRY][QDQRLGNPRWWOGILOIMIHIDJNF>LGGJILJOMMPLCHKHELOEFKGBILRTVVRQRNMINV\SMLOIHKRTTRNKGFKKKNTTPQVTPPMAINHGJJHIDHMH;BRVQDAAGIIIJJRQMPMKQUQLIJKRURRY[ZXUQONPQTXVSQV\`a\TQRRVYWQJJOMLLKSRP[a\YRPY]\TUWTQOOMLIMSZ\[Z[YSHLOOMKFFHHRST[[UOOUSVVTTRRRX[ZPKUXSLHHMIEJKNPLIMMNROPVYXWTLMZ\XTMMNHGKTPKRSUUVWYTTNHEHGKKKEFPONOMTPNSUQLMWSRQOKIRRNRWUZWPQPPMORUOPSOOPHGG@IPQNPSTSMKVSOKVXTOQXTPPMPSNLQWVPLNRRMTYWQOJU\WWXWT\ZUJSZXNLJVYUOUV[]^[ZQLQY]RPNPHN\[LCIJNBMJQNY\^VIFEIOQRTROKMOJFKJEKQRIJQST[]ZWRNICCINOTSWMMPSQLOZ[WTTTOPVQOVXSRNGFGORKMV\WQKQMDBIKNMNJMTOLLPOQTPPQRKMVWUWYVTUWSOIPVTLIQVSJNMQOSSPFGMPOV[XPMLOQKEDGPVSRTZ]_ZPX`_XRXUVZZRSPPY_ZZZXPTWXSRSMMY[_jtnaT^b`^[YWXUNLGLLUXWUUVV[\^]^b`XRSVWQV[XSX\_XVTRKQY_aZWUWXWU[aa_YUTSPJLPNKNWYUMIHJV[^YUPSTMRW\[WOPVTRU\QLU\^UOLNQTUSWPLTTVNLSSTP_hhfgiif`OP]\K;DFSPK)OelweocTNVKS]__WSUOV_VYXUSSQTWWTY^^WWYXXY_`]SPNUOTVYYT][XNTVTQVTXPTX`b`VRKQY_ZX[Z\XUWYWWYYVZ[YY]c_XUXWYYV[ba^^]YZVWXWTZ[YWVXYZLYTWXXRVXUYZ[\]YVTPSRRNU]\\ad^V[[YRPSXZZ[UXYYQVXUSPYSXTXWYYUVWXXYVWVXVWVWNQSRWYV[]UWQQNQSXWVRXKUY[\]WXWXVYSTQSXZPUTSQUbfaYUTNYSTRXTWMWUXVVSVPOUXUVUWPQMKNLKXUKROKWKSTTVMUUWSPSUXVRTWUWORTRQRTVWQUUVSVULSQPWSWKOLPUTXTT\^[XWTRTYPEIQWXQOXYZRQRUW]c]VQLOOTYXRQPOQSUULKOURRQIBIKQPOVWUSSMQYZVQMJJLOPTPQRPRRIFMMDDHKKNQRUVUMPSWQLT]ZNBIKEHEBJPOIFGGHNOSPQONHNSQQPPPLCFKNORQJCHQMJQWWWYQFGPRNKNMLJIOMG@KIGHHJRTPKPNKJDEKMNLNNKLDGMOSYWRLNSW\^XRQOKFILLJHDE?DJJKPSTOIHIJIJNSWUOJCIMIEQ\ZTQPSQKIONHNPOOJKQQOMKF@EKFILPSXXUVUNQNQPOQNMQNUW[^\USPQUSMNNKKIPQXYTQSTWVOERUQUVOJOLJGCFKVY\_]WTNLPPNKHJGLNJOZZXQPJHRRSSSQRW\VPLPMGEBLWVOPSOFAFNKFGOMSXTSTLEMPLGNRPLQOJFHPVXOJTX[[SGGQRMIDAGMLCINPOLPSXQOSX[WSRPROOUUTTTRSTRVOFJHLJGRWRHGIMVUKPRTRRVVVUOLQPJOUQMIILMJJMPQROVYWQMVTOJNW]^][UTQRLFPY][MOZYQGCDMOOLHLPQRQGHMPFCRPOLRWa[OK9USQNPON^_XPONRN@GD<>KNNQTNEQVVUTULMOPNJFMSUNOPKJLLMOQW__YSKJKSPKORMPNMNKNTPLTVXQLPOLIMOSRNHMQQIILOQTQMPOUVYWPRTQRVZWQQPTTOGNXSKPVYZYWPEKLOOTWYVUTUSOG@DLRSSSTZ[YSS\_YRTSSZWTSUQX__\^_`[VRNTQDHV[[ixzrbX[ZUUUTRLMPQLNLRWXXSRT]_Z[[]VRY__YYZTRY]]]RSQORX]_YSNNPPRW[]^ZTV\XVUSJDOVUSSRIBBPZZQTVRNSSQRRXURSTYXOOSSXWOHDAEW_c[JRZYXUVUXXTVUQXYXXP@Vb`RB4EQN;7L*ae|ibQRZW[]ehgbYOLSZc`ZZUNUUWKPSTMW[YVXUVYOPYQXYYWZZ^ZWRUWVSQVWOUWZVXUQPQV[Z^_[WWVZUNYXWSX]ZT[]ZWPTWRRZ\ZXVWXZ]a_YYXUWUSYVXXTQWUQRUXVQSXTRYTVWVZUVYXYVYY[_[Z[\WWYW\Yb^WVWYRRRLOTTPXTVXYV\[UWWXTXWWMSRTVXVWYZXYVXRQXUQQVUXXRNRSTXWYZTRNRTZXYXXVQXXXXbdbWOPQOURNPUSNKUVXYZ]YVVUUUVULPTTRNNJKOTSNKVSROURSVWTSRVUURSRNKXJVSRKVUSNTTPNMKQNQSWWTNRNLVNSRO_^XTTUVTQMPRORPSVUPRRY]TU\WVTRLHJTWRRPOSSTPH?JIJTUPMSQPUSWTSUNJRUOPTVXWUPJGHHNOVWPSZVPCEIROLPZ]XZcd\QNRSIDMQQT\VJORMLGKKMLJMONMKJKNNVSFKPPLLNUTOJGLOKFMQURRVSLKMHJRMRSQQQFJMSUNIJNSRMNQKHHFCGMSJCCGIFKLMRTJEOVUYXVRPONLMIFEIFGHNQNNQSSQKIMPOKDIVVSQQYXOKO\aYTSRRTVXOHGPQNIRUXRMJJJONGFMUTTVRQQOONPQOSUWTNJNTWRE@>GROOTVTMPVTSVUNLUaaVGEJNQMLSRPNMJKBLW[VOMOTVOSSVPOKPTPIUZ\[TSQIOWTSPVOMMQSPIFDGK\`ZOORMBBHKMIGJMUTTSNOMJINOMVXVNOLMPTTKHMPNMPTQVVQMNRQLFDGJOSSTXYWUSTQLNUXTUUSPUWTNQURWXWSMHHKRVTRSVQPRLQVPDKVYVSOJNHJLOKCMQQQPNRLKKQY\XLIMMOLKSXV[YOOVRINRU]aXTVYYULLPLILGMUSRRPW\ZR@AQQVVKRRH==IJ6HPE]faO@BJPQPRWSSXXZ[YNEJQVYQMSRNOUXUYeoqmf]XWSX^a^dnuwqgfhaXNMOKOYZ[[USVYZSPQWZZZ[WWTY]\WVTNN]\ba]\XMOSX]_[XTTZYTRTVTNRZ_ZVWTLJPPQSXYVLMVXQMNRPLKHVUWVONW\]Z[UVVXTSQNOS_`WMSPJQXUQQTWRNN>MXQIBK[S\]TH1.7QIS@.C[[`ce[Z_^fkkcbLRWbYRQSW_b\XT]\W\_\YXWWZWYOOSXUX`ea\]\ZXRSVWNOYTUWYTNUZ^[VUYWRQZUVNQSSYWXYW[`ZRUWVWZ\^YYVZZYXZZZZZVTQUUWWYYSPUQXSXWVUVZWTXZYXYZUUX[XWQV[`]X^aba]]b\\WXXUUVVOOTSSRPWYSSYXVXWROVUULLZYSYWYXYYWVROOQSUTUXWZVUUYW[Y]b_WROSYYXYUVTSQWVUUUTTVWTWTRPWWSPSXWY\_[WPRXUUUQSWXWOOMNPVSUUTVWTXXVUSMQVOSTYWUWRSONSUWWSQPTVNQTLPTRSTWURUSUQRQLQSS[VTTSRVXRQQQSWZYWXXWX[ZPTW[^[RKKLQRTUOTSMOHMPMORQONMNFGKJMRVXRTTHFJNPTRQMPIHMTUZ\\YVKF;FSYQPUUOQ\aZRQNKBCRXTVWTKPTVXWPOTTTRQPPOJOQW[YRIMNLBGVTNIJLJEGPODDLRWOFEMPWXVSKMPLIOP[VIIMQWVSMHJQOFHSUMCDDFLQUMKOHFMNPOMJJJRXWPMIOPOFFQSJKPOPOONMQPG=GSVPOPSTQHNTVRPMLTXYWMJMRPKJQXSNDEFGOH@NS[Z[XTPIJKFJOOWY\YPIKQQJDEFHIIJRXWQQTLHQVTU]`[RKQYZXSY^^RLSXUEESWMFLOWXOHUUPJIUULLW^]XQMPLQ^[PNNMFMU[YQIMNNX_ZQJOQNLDEHFAFILQSTMMOLPSOHOSPILPNLHFDIEEADV^^[WQLW\UMLEHEIOSQMMV[ZPJBMPOPXZSPRYVQOKJMRWURTWYSNSSU[YROP[`ZTTQQLLQW][VUVXX\XVTLHFJJKQVVQLNQLKOLFGJVYKOZULKIRY][WTOU]TWWROSTUYUMIQ\bZYICPYX\^\YYRAPY>J^[\e\UEJRVJFJEK[_]OFNXXVSORNQNHLSWQPVY[\SMNOMLKRXWSVXYTMGFPUPBBNRJFFJJIDBMQTWXTLHLPQOLC;KTYSLQRQJJOOQQNNNNNQSSRRXZYWWVUNRUUY\WY\\VVVQUPNSUROIDFF@DJMNPQXZXSWYY][RINWTWQQVZWOLLIIWgmhe]XQUZb^Y\irxvqpnlcUQMJKJR]d^UQV[VPJKT_db_]]WTRXZ]]TQY`gg_YILQUZYXUV]`YSTYVSQLRYPGKOKIPRWTV_cbYTQMQTTQDGRTPMLNPLNR^`]TSUW]YZVSRWOOZ_QEIFIQVRPVXMTWUUQZYNIUXPABCLB>01@07WILVPTTZ_fb[UZXRVWUUT[ef_SMT^VSTX[ZWVVTYZUTORPWa_VW^[YWVXYRQRTVX`WUXUXWYMMSKKUYUVVSMVWYYYZ`_YZXWZXZ[XWY_\XZXVWYY\UQNTXVWVUWVYNPZWZW[_`ZWYWWTPWWTYXZ`[_[XY^`_____QUUUWWYUXQTUXWTVWVSSSSXWXTUQPPWSNMSTUXVNQWYWPOMVWUMUUXXSOY\^_bf\XNQWXSVUYZVOVWUVPPPSUWVTRUUXRRWTVUXWUQLPWTXVUXVUVVSVPNPRSWVVXUWXXWXNSYVWUVUWUUWTKVNUSMQSVXVTUPJRMXUVRQUXSOPQSYSTXVZSPPOPNNMMSYWQHRVSPZZZ\\\^[SLLRQSSQJLNNHHPUUQPQQOPOG?ISOLLTYVURLIIKPPQYWLDHGFLYYTMOMC;RYWRPKFFNWWVRLFGHQTUQPOJNUZWQLJOPLJFLPSLSTTQMNTPJEADQUNDHLI=@MPKJIFHNMRSURVYWPILLCHJGKCLRPQPMGCCHPOENMLPSUTTQUXXUTNJMNPQMIMQTUVNOLOPGFKOGCKOLIKOMSRMEFPSOPRXTJEIOLSYVLKUXSKKQVTSQVURRSRJCJGAPXT\VTNQKLMEBBHMMMMHKRVXVVSOOMGMUTVURPJGTZYWZYTQTWUWRTZ]]WRT[WPQXZMJPRPOKNPUTNLPOLRPNPQGDOPW]ZTOKFFHQWXVPNQPPUVSIHTVONINJGQTHPUUSUQSWZRKEGFFKQVTMGMOH7>DT[\ZWUSSSKCOORRQMMLOOTUSOJCINNRZ[UIGHLPVV[XXXVTVZ[RHKNJLPOMMZ^ZUSIJGENRXYZVRLTTPRQOLFGKQUWRMPPPIKNMMKHSYWT\ZWVUTSOMSRMNQMKLIEIPTWUSONWXRPOLPTYY[]XXZIS[_?F[bdd]XLPQ=5<>FSZ\ZNAJTVTTSSZULLNTSWWVXYXSRVUTPNUWW\`ZYZPGMZZTEELRPLJIJDGQQOVULOVTNJLNIEGPV[XUURMKHORPMNMIOPSTPQVVVTWXVYX[WS^\VWSEFJMTQMMKJMIFHJGHLOPQQQTVZ_ddcb[XVQRTNP\dbWKHINPVQRUYXSVX[ZYYakpsqm_UWWQKLJHNZbaZU[`^YSQ^eecdecd[WUW[_a^[]deaYTOQSNSUXW[ZSV\][TSTUUWTXTQPPQJLP[_^\WTUYZZRKPYZWYVPKEHUZ]YUKKMKLPNQTQLJTab[MKKX[HFWYYXWKPW]]UPSbb;9QEH71Gbn^B#VSMQPV^__TRQPOTWddVU`YVLLQQRUTV_b_WYVW[XUUQQOUUNTVXXW_`ZWUVVVW[YYYUSPQPLOXVXUXUVTVMUYVY[a`ZWTXYVTXU]]^YSW\YYYU[[UORTXZTOSX[VWXYZRSV\aXVWVUUUVSSW^`^XZYX^]VX[]][OTOSXZZYTMOSVSTYZXVQVQVYYTVYPYYQOLLRXVRORSQNMRX[YKKPVUQXPUZ\XVYQOSRPTTTWXVWY\\[XRQRXUUWTQVWVWUURWTPXWUUSJOSUTOTWUSSTKXNQRRUSUUWWUSXVUQWUWSVVSWTQPVYYTSWYZVPKSPMPOWTQMUUOMPTWUWOJJVYWYUNJNOPSWZUQRUWWVV[^]\[WNGIMQLJOOQUTOHMRTSRTUPQSSNSPJDGQPNNPSPLPOJQVXPJPMKOSMAFLML?ESSONNNKOSPHLNPNLPQKIOPQRVXUNHJILKMRVXSPNOJCHPUVKLNJKTXPLPPKIILKLJILSUUYTSS\_WJGHFGHLPDGMJECA@DEJOQKHHELSRUUSKQPUUPRUUXVUPGFHOQURKLSVUQNIILJIJLMMOUPOIHJGIHHGDKOQQQUSOLRQQSRRTUOORSRSURMAEGHMLEQRQRVTKLOKDEGFGIGCKSTRSOLJNQTUROWXUMLPPKKMOVZ_^XQPNPVTRQVTSSUZ[WQNIDCMRONSQRUPMNOFBMJJNRMPOTVPJJIOPTTRIKQRNQOJKOSROQPHHOSMJOPOSNPWVTPHFMHKPXVKHOTPJERXZXXMKOOPLMW\[TQOUVUTXVRSSKLNHMVYWNIHDLUZXWQOMMQZ_YMKRQVURKDJKHLHFOMKC?HQU[XMKMMSTVOPLLJNSVVRSLLQUVQRQS[YQROMPYZRQNLKRSQLNFAED@CJJT\]SQOUWXX^^WOIEOXYMWWVO\Wckk`P8BNFHGFRNHSSURTWY]YYSTTQFJVXSPQRLGMOROMLNPRY[VOVRKHMY[WPLKMNNNPONVROTVOOTWUNFGJMKCNX]]UNLKIPWVUOMRRSVVTONWVY^[XSHRRUWWQJJHORQSWSPLAJJOQMLONVWVTSVVSZ]acab]YRTZYPWb`ZUVSORRSYccb^^ZVUWVU\flpj_QRVULQY]ZZZXWWVZce_[Y[Y\`][^_Z^^__a`[Z\[YZYYTTUV[ULS[^beb\PQX\^\UQSSRVQPQTKIU^^[SOQSRSUZXZ\ZQSVY[VYWNINVVWXVVSTURJTYb_ZVZ\YOPWXSO9&FTWVRR]]QQUWQ=HQUVVODBEFHNMSUROMPTWSLRSWVWRQURMFLMONJLNVSJLQMSXXSPRQEFCELQOGNSTSXVQRX[VWVWRZUPOUQJLLLRW]bc^ZQQTVRTTLEPIDHMSMFIKNOOIGIQSVQMKLJLQUYZZXMCKSRJFNSUXYTIINMNMLIGLPRNQXWPUUSOLHJOMHHMMOLOPIRUVRRSUTTSTQRLNURJLQQRTZZVQHKPWSJIKPUTLJLJEMOROIKIGGOOQVRMMSYWSKFPUWZYRNNJRVMGKOPPQRRV]^WWRPTXUPMLINFAOPPMOOWUPNPQSNMOPPHIJNQJMPRPVVPLNKFMQMLOVZWRLTWYYUTTJFGDHNLUXYX_a^hhdZPTTWa]MPLCEOX]]VSMPQTY\VQNNPGP_]SNOOMHJOSRVWSLFHICFMSXYXMEEDFFKFFRXZVQMLQXYNJFGNTQRQLGELTUTUW[WTTQQSSPMKMRZaa[ZVW]`VVUPIHMTVTUWYWTQLJSUUSV^\VJHRYTKFUab]VW[Z[^`]YWWW`c]XWZWYacbaa`VVZQSZbhibZXWWRJN\`ZPTWTTRSbffcb]U\]YOOXYcecee_Y[^[USVZYZ__]VNT^df\VOPZ^_^]WPLRUXRNRUNJKQPYYRMRVPMMQPUTROX\WX]\OKV[XWYRSSTVXQMSVWWWYZ[[[]_YTPFKNURSMURWTYTQ3=H\l\TKM^iWTU]UQUSRV_ce]KTSNUVUXUJVXYXY`b[SUWVTTYUYVTUWXXUVTYXVRXWQTWYZZZYUOQWVTWUWZ\ZVYVUUUV[]aa\UXVTUVXSRVXWSY\_UVVVVXQSYYXWZXZV[XWW]^VWYZSUWWPPXVYWWY[[ZYTWUWVZ_^XYWLNQQTXWXWSOWLSNTWXUWXWYYWUOSVRXWTWVVWXYY[ZYXROYXTRPLWMVWUUSVYYUUVWUUSRSNWVZY[YXROPWY^[XZTOKTLTVXSVXXWLOQPSUVWTUUOSWXXRMPRTQSRRVTXTXXUSSXWUVRRRUUNNQVSQSWYVSUTSSSVVTSWRMURWVVTRSONOQIORURSSXOR[\XWZZTRX[[]b]TRTSPORRRQQTRSUTQPQOYZWQPMHGEBU[XPWXTRMMMMTUTY\ZVKQ[\VPKSUSQSQMOQNGJJNQVTRLIU\ZVVWVOKKNPQRTIOVUUWUTQNPSRPTQQROF@DHORMLPRTRUVNQPUWVQPOFAMPOIBFIIMPQWKIKRUQOMJD?FOPJIHLSUQNLPXX^aa\QOTVWTOLTTVQHFOPPKHGIJRSSVQIMNRORVUKGGMOH?DIG@CFDKSVTSQLJOPQRNRSMIPPPMPPINKGJPSROTXUONGJPROPSVOQTMIUWRHUYSSWRLONSRNIIJMYbc^RILZa]ZQGQOLJQTHMSRPPLDIQVQLLSNORTY^YUYTJNQH<@LRRSSRMQROIHMJKKUXVX[[WMGJLNMIMMOQQRKHTVQJPMLLKGLGJKMOOSVRPQO\]Z\\XYTJJLKHGJRTQJGGKRXVONORUTRRNMUSLMMPPTTNILRWWSWWURTPJDHOPVTONUWXTTRQSUMOMLNIEFNMNJLPTOQTOGCEHKOLIGIPPLNNNNSSOKKFMY`_UQOHQOOUWQOMHDBRWNLKRZ\X_f`a`b]^]b\UWULRWMKKS[ZQQJQVV^^YWWUJLRZ\SQTUUX[^ZTTSMJMSPJKFKJOROFCGGCFJJNW^XNNNPTPGNPUSKMRUUOEJQPOKQRNNRVVUNNOPPNQ\]TTXZd`XYZWNOPPNLORWXTVSQNVRKQX[NDCKUQLL^hmfWRSWVRWZZZWZ]`\X]]XX]]WWbca`ZLGX\df_[][TUUSWWOKOVUNXU]^]V]^YYWWQUZ^aa`ccYUWWYXTSVWSXZYTVW\^[XSKU_c][__[YZ_[RMQQPRTVVT[XHGTWPORVVWVRFKNRSVXX[VW[ZXZY^[RMMRRRXZOJSW\\YQIJUGBLUSX]ZM>FPSLECIIOX`a\USSXTQQRTROPRMQHHGJEEMPQIIIHMSPOLPRPJKMPNIMOMECHHPVXVVPMPPPPRSTWYSTWQMKIOSTROKKNJKOTVWVLILMNUXRGCHGHONRV^ZMKMLNRTRPMMLHRUVXVPQbe^WQQQSUMQWRQUTTXTSNNQJGLRTPQQWUONTWRRTNKIJNNJGFJLNSNCDOSRPVYYUPMMMLLIIDHKTUVSLFTZTMGIKMJEB=BJNRSVVLCFKSYUXWRSQJDIKMQVXYYSNJIPWSJKPRSMIJEENUXYSPTZ\TKFLT[[YTOOSV[RQPQUUOLILIHFG>GLILMPWRPQPSTUNIKNQRNHFKOJLOOGDFJLMJBAJTVRQOHRY]]VLMTVNLRVYYWQPRSPKJLY\V9:LN[edSU]a^`\Z[ZRSRQUVNTZ]^VPVNFQZZUTTNPNOKAFSTPMQOOKRSNNLFHPTPTONNNHELKNPTUQVQOQUVWTZ\WNMNOQOQPSUSOPPMOVYSBGPNQPNQVXXTVX[Y_bZUSRTPMUUQPNRXUOSRJKNTRONOVVNLS`ccXQTSMHMUWY\[__^^__US``UNU`dc^V^a\[XW\ca`]XTVVXVSUNQUW\d^WV[\YVUTLPW[\[\^\\_\X[^]^ZSRPSXVPRSUPSWX`^VS^_]\]]YSXYSSWW_]PKQGCMOW[ZWTRPOORRUUVYXSR[fhd[UU[XMOV\\Z\VOUWVOSUHAHMHLUV[b^ND]cX8,=YXSP6/P^nTSVYW[ZONTZXVT_[^cZWWLSVSSVWQNQVTUW[ZYUZVYU\^X[YVVYUWXWZ\USWVUOUSNSTQOLTXUTYYORVUWZ[XVMZSTWTXY]`ZVWUVUXWXZYZWW\WUVYXVYXXZ[\YMMRRQUOOWZVY[VW_`[Z^_YUUXVYVWZZMKXLNTWXZ\\YVRTRPTUVUNWOUQKZXYXYWOPPVYZSUYWXWZYX\W\[ZUUVWXUUVTMQVWRVVUTTYWZWWWW\`[UUSTXRTQXVXUVVXXVTWVPKMUVRUTURNRPVXSTTWONKNSXSSUPWTTYXTOUTKQRTWSTVSOSRRINSLSSOKJOPTVLKUJRTTTRTUURSUVOPRNEKOSWXTWVZ]c^VLMLOUZYTKLPUXYURONSQQURPTSJETVPPPOKDCHDIRSLLKIHTSTPSTMLZ__QQW\YUTSSNIFJRWOKHMNOKHLQRNXXWSQOPTVQQURQXXTVYXXZZQONOMI>CJOPMNQPSRSNGKNUUNCHOSSF@>EJRSMIIDDVUJKMGHNOJUWPD@?JMLDBNOKKQQRMISUXVQPUOGPMOLGJQPKHHJHKMNMNRTTVWVRQPNJLJKNPOLIIIMLNNKPSURVVTVWXUWTNIGCDKILPMFILEDMUVPNGJCDORMJFDFGPU[[YSQOTRLQRTWXZWUU[\Z\ZXV[WSLEQYWFPRUYYYTPVTNKNRKJNNPPQRQOPVWUMNW[P@DNTJKGDFQPCGTZUQPSPNOVVYVUOHEHKOPQUTTUWPHKSUSPQKGNSXXUTTLJONQPNRTUUQJGHCGLOPSRNNPKQRNECHLMLNNCDQW\WMLQSSSMHKTX]\ZQLQWYZXVVYWNPRTQPRLKHLMJOUZMBKOU_aYNMQKFJGCIMMKNNNMLMMOSSJENRWXUPPRIRTPMU[YG=NTVVZWURQOSIHQWZVVTMY\SFESTSY[SHPYXV][TQXZTIDLGANWUNOQUVWWQIIQXURPONNOQPQPHBJJJIMPNFDFIOTSRPTRNMQX]XKKTTSRONNJC@LUWZZSTWYYVQFBGJPVRU[WSUTU\_]ZSOLPUZ^ZVQJKSRPPMLIO[WVSQ\_WQQWejaPJMMPKJKLTSTW\\^TOSage]^^``\`jnl`WSV\add]X\^^\\^YNNW]ba`Z[]XTTPLOVOORUWZba]XY^cc_Z]a`_[RNQUSLSRQOOQUZWYY[XRWWPUZ`^[PQUYUQHOPPQTOLJRWVVVYUQOKPXba[RSWTKGOXX\adZOIDB:AKTVRJ@GNTWSOW\XVVUV^[YP_eU/L^`dWUU]QJYcXV_UWYa``_[WZSYYUTWVUTVRV[VSTUVUYY[[UUYVTXXVUVUYW[]\ZURMTVUXTWXXRPNZXWX\_[YUTXTQMQV[]ZWW[[YVVNYWXY^]ZY`]ZUUWWZ\]XVRRTUVVOQPUVXWYa_^\^`[YSVSUQPRT[YYLWJTVUVWVXUYRKLPTSQSXTPMKVWWLLWOVYYUWOWWUZ\ZUUVTUXXVTTWVXUXWVWVWWWYYUUXZW[^]XZ[UUVWXYTVWZUVUVUURPNJMMTTTTTVVMKMJRXYVTTXQLMTVUSVTUVVZ[YXUSVVUTTTRSSSUQMKWSUTQLKPMWVWKRPLKPUTTPVWPKMSXTSUOQTWROSW]^\[YUMKPQOKO\`^SQVTUZXRWWPKQVUWVIHIRMMJKKGIJIGMLQWXNMPMNSVWQFIRPMISVRJNTSLHMQTQNLLOVTSPIJKNU[YXXURNRRLOICLSQTWURSUSLNQMICHSTMGMTVWZTMEAHMLLOHITUMIKJEMTQLPSQUQIEDEBBGQUWWVMLQRMAGNOMNJMNTTTTRTQPSNHLJIJGKTTPNGGNLNHMROIIYYVTPOPJIFEGLPRRJDGJONLINRWVOUXVOSYXKKSQMHGIUXUPOGGFMLJGINPRQJEDFFA>HPW]ZVQJJNQPQTUTSSQQ[gc]\WWZ^b\TXa^TSXWYYSRKOQMNQSKA@FFMOJOUTOQSWWZ[YMU\ZRIIFMPKHEPSOPROIMNRY^][VOMOJNPRWXXVRJGGSVMAFJHPVVWRPSQKMMQNPNPRTOMNLKNNJELNILSTURQMB7HS^ZROPVBAIlcIO^VQUUMRVWQchf`TU[]chaUZ]_^`YRTQYOXZWY\[VQKPYVWZWWXUU[YW\[[[XRPYWYWUWUYVMMUTY\_ZWVUYYWMVPYV\^]]\YWUYXWWZZZUX[WVWVVYZ\[VWWYYXQSZMWWYUWYVXUXYYXYVWUVZZXQY^QQMUYZYYVUVXUYWUXVTKRUTQRRQQYYPTSTXUWLPUOS][VXUVNTUSYUTRSVWY[\[XWYXYYXYUUXYWVVQZ\\\YYWTUVWVUQXYWYXXWYTZUXXWSSTVVPQUWWXWVXSXXTWMRSXWWVVTWVXTUVQTSUTWWTMNSTTVTTTSWRMRRPSSSRTTVXTUWRMVKURTWSPSYY[\]\ZPUUSMLQOPRPYac\WYYZ_[WWVKKMNTSSLCHSSOJNLNOQMKHKLRTOTVWTS[\[MBFOPQSNECKPSRVVXXVROIEMPQRPPRQSOPRXYXWRUMFGJHJTZ[VLJJILRTUMGEIPOKKOS[YVPOMJFEKOODANOQVURNOKGKRTQOBFMJFJQTRKPUIKMJE=BJJFJEIUXVUJBMMLE=DOURROQZdeaZVYcd^MRZ\UXVNOWUQMIJNNMLJKQSMKOMISUTQX[\YTOQ[baZMEKQMFGFHPTMJEDAEFQUWWRQPRRLMRUQRVRDCJNQKBGLGKNRQONQLIGIKMOPPQRNROSSOKIJMROPOLJKNMHFOKKKLOPQRLEGKLHNVTRWVQMEALSSUPMMQKNUQNPQQXRPIPRQJHMOKMLKIQXVVTROJMNNLMHRRRRTSUUMHJJIPOQYXLNUYVPRJHKMTRHFE@AKRVNIR[[UUYSS]YPYIVOTdfZOKYYWYVMPQFCGONL\__\VTSTYUSTVTUTTPKJJIDEJNNRQOJTUQNPPKLMLSVVMLPKKPMOSUWQMKKORQQTRPRTSRSWWNIRUTSN@ENTWUMLKLRXXWVSNGLQT[ZTPJONKORUQRXVVUVWWQU]][[cnnc]XPNTWV[[YY[US[]TNNYcifeorpg`^be^Y\aa\`^YW\Z[_dgaYYTSVXUT^ecddd^XXXWU[]]ZPS_a[ZYVY_[SMTYX\``VSPMQ[WYbd^OIP[^`[TMQRXWRNOQSRUVZWYbd]VWRK@EG@BHOOQSHJQTV[SPPUXYUTRKFLROMPVQHERHGNOV^\[`\M2MSTZD0;]h\\\XJPYUPPWJWeeUX^VWV[[[]g]VLMWT[UPRRPT`]XRWWNTMR]b[YVXVVVWUYXWXXVORWTW\]VX^ZQUZYV[^YXSTW[WTKOVX[]^YVYVUUTWYWZ^^ZZXUVTRSY\\UVUYVXUXWZXYWVZZYYVWW\XYZ\XYWVY[Z]PLWZXVNOYVRYWWWV\[VVUUSQUUVTUXLOUTNTVVUQSXUWSXWRUWSVZ\WRLQTXXVWWYWTYXXTVVZWNPQYYaZSSXTTVXVWQTZ]`_]Y\^]\XYTWTWYYVSWWWYXZVRXUVVMPTKNVQRTTUSTUUNMOSTTZ[TTYYSUSUVTNUWZTQTVUUQSTTTWPLSWQRRO[UILTX[[[ZUOSYXVZSNUXRMS[WUUOSTWUUNNQRPNSTOMU[YQHHPSTPSNQWVPMOUWSSJQ[YROMSWTONSTXSNU\`\YVQNGDLRSVYYSRMH?@OMMRVSSKKNGIPWXZUTQLELWWSTQGGIMPQLPMKRRLIGFCCLPEEIKJFFECGILHHGHENQMFEIJIIMLEDIJIED@CG@@HJMKIMOSOLNUYUNIPNIKOTTNPQRPGGQQOQSOJNQQWYSNKNRTVSROQRTURSWZTIJLKMOQQMKLNNJJKLA?PPPQNGHJLQPMKJKLHADOOPMNJLOPPKJSRMHEKRVRNHDO_gd\W\cjaWMW\YY]IJWYWTOSRQJIIHMRQSUMHITVUOTVVPLMUZWYPDQSNHF@FUWTE>AEEMNPSTPQURIEKLPJGSUMJFDHJGMJJMQSPSQSSTQOOLNOMJHPQVX\UPPKFIJMRRPMNPMQRREDKQQRSTQELPOVQLPWXQONIO[YSUQPRRQTPJMOSWXQPTTIHIDEIJOQVVSUVTNKQQTRPKPQXZZRLTXUSNNQRVQMOQOQUZZYVINSZWOLJ>AJUXXQWZWWWICK\TZaKNXae[GOVVOQNPHGONEIOWYY[WZNF@LPPPNPOLHKHB>=DHIHMORUPILQIGLIKNPTRPNOTTMMRVOIJOVRPNLQWZYUNSSMIPURMMQYTQLFKOJIMLKLNRUVY[YWMEPVUUWTNKGIMPVVPIPQLKIRRUXTNCXikd[VYXWZX`fea[NJUYTNSXbedinqnje[UWZ^cb^Z[[]cb^[\ce^SONLTRKTY\][^`]UVZYX]c`ZXTY^[SV\_bb[\[\SKW\UKLORUZY]``TQVTVWVTRKTY\WVZZPQQVXRPY^WUX]ULQUMLTWTPOOMQSPU]\\\]XVSTPLGJMLQOR=PVSZb_TUQYc^TU\VjkjYVLSVKVOLV`UXQXLTS]_ZVSWTUTLKQNPRSU[^WUTRPYLMXba]XT\UPNRXYYTWVWVVXYY[\[Y\[WTZ^_\[[[XUWXWXVVUYY\ZYSPXXKNSUZZ\\[XZVLUTYWV\Y[VXYRXWXVY]ZWYV\\VY[_YWWZ[XZY_a_a]QSUVXUWUVROQSWUWXZUUYVSLMSUPNSQWVVOSXUTXWSUUVVYUQPYWQUXORUSSYXWVTRPVY\YTNXSSVZXXZVRUWYRNOUWVXVVTUXZ\_ZVVVRQVUWTTSVVUTYTYWUWW[XXYWQMJMSU[VRVUTQKPQUV[WVWTRNONLWIT[a\UWUXWRUZ[[YTRWURVTVWKHPOMMOTSLOXVWYVX]]VLGINQTPIHJSUPIPWWVZZTTY^\VMFLYZWQJHORPONVTQPFHSU\][SRQUUZYXXONPQQROKGHFKOQTY[YSTOC:BF@EKPROMNG?DHMOLJJGHLLQOXWPKJKPROMJDOOJJJIG;HLJGEFH=9FJJGHIDBGFDKEDCDB?KOLFCGKIKJKJDJMKFHIDHLSTMIJRUOLPSPHGNONJOOHDOSRIHNLMQTPQSPNILSRTPHKRNLOPPSRLFIE:FOPNNJLRMJMMPMHEDFMQMQPJOSONLMPMCCKPRRNLBFPTPUVUNMPPSPOLG:FV[[QRW`gk]QU]^\]^WIUXTJGORMHHRSPIKQSLELV^[OKPFLUTTHMZYTVYTTRGHRXUMFPM?CFIMGEQUSNONMPRSXZ[VK@DHLNRPMQPTVTSUTMLIKIDHKJFNUZ\VOMLPOLKOSPMIELLLMLELRTMOVTQNHJNTUUUQLMOSTXZPRSHKNQRONLJJOSNPVXQJHGGLJNRQOPORMHGSTSTUZWYOVWSNSSVURUNQROKJSUSS[WWRPSVYQSTUTKRPQUWPOMU[XJS_ZRV\S[]XO\]^d^PJDFTUQFRWY[ROFJEJOMC@LTUN?GOSMFDEGJJIHPQMIKKNOOIIHJPORSXUHEX]WMKMKKSTMPT[ZVUQOKQVPKPUWZ\WQSUQHELPNPQKGPWYZ\TLJRTRJJNQKJLHPQJERURLIPUX[ZXZY\bhf[RPR[]dhge_WFEQNNOSYZ[`ggea\WOOQZ^`ZUPOZ^]YZY\_\YXYWUUW]`ZUY\][RMPSMS`a`[WY\[TLS^a]_a``\MOZ[SMKMQV][Y[SNNOQTXUQONW[ZW\\XXXTPNHMTPMNPPSZ[UOQTQPXUVRI@FV]\]\YYWUVTPPKIHKOICMJFQVUX^WNSVUORNchddZWPlspWR_bTPVJWTSOMSYSOU\TNSSMXOOXUSUVPSTXSYVVYYZVVZ^YY^c]USXVYXWUXXWWYYQQYZWUZWWWaebVUYXWWZ\[ZWVRX\XVXXZZOMQYULPXWZXQOSUYZ[ZYVYUXVSVUQV[]VX\a_UV\^^[UX\``[\[``\bXVX\VTXWRPQPYVXUYXVSQMKLPSQKORW\VRVPPSSWZ]]VXWVLXQVW\VRQY[ZXV[XVRTXZ]XTQUTVSYVXRWWVXWVYXWUXPMROVXZ^\VVQRPTXUXRLUZ[ZWUXWXTTUZ]]XRROXLRW\XQQTSSTNQSTTRWSNMOTLUMWWZZTTUWSUTWTTUSTVRPTWVVVNJLKRVWYVRMQROTVX^\[VOGJTTTPRVYZSNNRRUUUOKKUY[USSUVOGGMNMNQSQLKTOOSPT]XSMMLSWZWXQGKQPLKLRSTPQKKPUSTTSK???BDNQPTXWSKGJORTVQLJNMJMQQPOKGMSPIIGJKHOPMEDMOMJJJKDCINKMMKLJJKOQPKGMNNIGMKDDLOPNPNONQWPJIB;BCINNHEIOLBDNQMLNPMENPNKPOGDIOHALPSKDLSRLGFFFIRZVRVVVSTSJFHJJMFGHIPUUORRMIFFGKGPUSOHT\YTMMFCDJOOSWNHKFMTWWWWUOPSLNNOSQLLSWTTRYfmfYTMJJIOHPWVPBCHDEFGNOKPTRLKNUZWRQMINXZWXPUUNNRRVXNLTVRHMTQIEEIJHNWWSONJNORTYa`YPKJMOUXYQKOOPOKIIDLOPPOLONHEHLSOFDEIKOQRRMQORPJKPRRKOJHOWVTIFNWUSRMKKJKNNROGLQIDNPMGFEJKKIEKW[]WUXVUOGMTZ[XQI@=KSQRY]]XUPQQW\YVUUUUYXSPMRWXZYTNQMPWYVYTTSMNQMRULH?IRURU_^\ZZ[T3NPHUWT[XI?DHQOPNJLPNKJGEFJRNGCJWTNBGSWTQQRKHJNMMSSNMQPPHGMKJMSUQQSLPUTOLQRMELQLKORRPQQOLOUPMPNMSVUPRRQOLLJNNIINOTSSWXOOV\XNJVXRRPLJNLMSPGKORPU_aZ\[T[jnl\DMSVU]cc\WLGUROXSSZWY[VaZZ]b`MHHFHDD>DUZUG@FJJSWURRRM@CNWUOMTYVRVUMKMSQOHCBKKOPKGINLJRVJCNRTTPOUROU\\VJELPPLLKIGNNHOPGHLQNMJR]]VNHJMKPUSGGMRUMPWZVPHRYPIKORUUXXSKHOXWVXXTVVITisskZSTMOW_ZWWSSWXOOWZ^ZZ`e`[WWZXOQTUX^YW[]]YRS\^beg_TRRPLS\eeb_^^^_]WZ]]VY^[VQNNPTRNQSTZ]XSUOSZZSS[WVXUEOSUPPW[[\ZUQLMUWTJOQSWQRURUUOCEOLKPQNNQQPHCIJHLVVSXZ\\\]WSRNQRVUPNX[[OPPRTMRC:FNWT_Z^G=8FKYQ1>j_hdWWYTUSMNUWVPTPXZWSVLVWVVTXXWTXTKUUVRRU]^XY[^WYWXTX\^[TVUSPQUUWX\ZZ[_]\VWOXZRYWPVTWYW\\_]UROPRWZVWPNVTUPTZWXQMSVUXVYZZXVYQSTWVXRWXXTSXXTQQRVY\[][UWZW[Y_ZUYV\\XXY[WYUVWYYXURKNTPNOOSMUVUOWUYNWQTYSKYSTVWUYWUVUURNMTUZVRVWZYVUWYXPPVWYTLVZ[WYVTNOUZYWUQXZY]^_ZWTOQTYX[XVTTSQOT[^WVNMUVSTRQQSYZYZYSPRVXYTVMSRUSRMQPVMLPPUTTRHONWRU\a\VXXRRRRTTWUUV[XVSRV]\RLRUSSNSTOLMRQ]`a^WRNS[ab`VOIKHJGNS[\YV[[VQSQGCGNLRZ[[XTSY\`__WLLQPMMSZTQRPOSTQSPOPIJ@CFUWRLPOPNJHLOOJFET[VJNRSSMNHLINKIIMHCFKOJGNOKLMLQQSXUXUIEKDAJLKIMJJILSSROKIOVSSMBGNPSNPUQLKKOVYXVSNNOPVRKLQQRNLILPRJHIKLDIIJNPPGFFLTUOHU^[UQOMMKO[]SLMSPMGKJNECEIUTUOEFPUTRVUTNJMIAHINSZYWVSROGCNZ[WQNNRVQRUYTKIQWSOQTSSQY[YYWXYVPQRPSWTPMIGWVKPVTNJJIKPPJGHEMNNLNMIILPUSTXQKNKMRWUKHKSVRSRVYPDKJGSZ_WJENJJVYXTONRSQSPPOLKLLRWXUJEFMIHNMQNOROKIGEKUPCKPOPOOKJLX_YND;ISRMMRUTUVSWXVUUQUVULLLKIQSQKJIKMGAJPMORPIMRXVSQQVWWLR[ZWRSUXYUMKHLRSV[[_XUZVRLOSUURQUUTSQQIJNXZVUXOFKQQMMLLPSNL[^RUYZZUP[XG=PQbgf[X^[RHHKS[TIHJBFSX\ZSTMFDNTTORWXSORUSTSVUTRIEKMMNNOQMTNKNEBHKKMORVWUV\^ZMDFMKMRQMGORLCIKDKOXUNPVYYYTPNJKOPGIQWWUUYRPQNLOOHFMUTRUWPLHNY[VQKGNPJM`npkbWVPFSTWTSKMMPKOUY[WZ`bcdcab[WY[Zaa^WW^ca]XXZ]_`]QRRLKOW^ecZZUQW\UQVZagge^SFSYVWSTVPOPTWZYY]^X]abWZSFJRUOFIUZ\YTUQLIJSVRHIRTSWVOSRPSTNLSVXSPPTTSRTLRTQUZZRNU[VXUQTSUTJ@ETUUPXXKAGM:=GPT;/GKSZdfgdW1aord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a_cbZT@_mh[IOMJW[`WILNVYa]TTVUSY_XZZ_^\X]]RXXYXYYXXQUUUYY]XU\]WVWYTUQVWXSYYYUPRQXYVUQQNSSMRUVXYULUSTWVWYX][_\]_`XWVVVULMSVZYVWVWZZZZYZTYZWUSYZY]]\YZYXW^][XVMUYWUUWYWVORXUTWYWWXXZ\\VTSSNNRTTQRTYXVYWXWVPUURSVYVYQQTUYUVVPVXZUXRNSMYYXXX\XVRLYNSVVTUUWTWWSSXQMXPVWMPWVVTVUXVRJXRWUVUTRTSRWYWOLXTVSRVOMTVWXVRNRTVNJRRTRSSSQKORTVWUSXYVNPSOKMLORKKRTUTRSWUQWRQOTTZZURWSQYRPTWRJHOSWVWWUMLOWXLQRTTNCCDMRUTOOHIQPLPTRUTQWWVOLJKOSTTWVPOKINKOXZVOJB@BNTQOMIQQRTWXVJCAHMPNNUVROTVOIQYZVTUQQMNQRNRRPTUUVROLOOMPPHFMMDJTYUMEGNQXYPMHDIJJLUUTJRRNRJBNRSRTKCGNSQRTW\VTQNJGLLNMMJIPQTUQORUREDKMKMIEIQMILQSWUPNTVPOFCFHFJJPPTUUPMEEOJMPSSSNOQSRMNOKQ[\VOHGJOSW]_ZROOQIFQTVY[ZUUWVPSOOPQQMMRXVJCLPOIN_faZZ[]XRSSPTUPNQPTZYKDJNPMQYVTONEHKSXTWXTUVXVOQSRQWUPPPJLJGFCMTVRSGCPUUVTTSVTVUNEMVLEILKGLNPV][SOKKOOKJKPURQJGKMIINQQNJKORQTWQPPX\WRMPSUOEEEGLFIGLUWQNPQPORRWUXXOOSMPUUPLGKHIPRTUZ\VQRIGOPOMNPTSQNMIJNPNRTZXTRI=GUWQSWRMBFMNJJMPTSOPNCHNKNUURMRHKYXZ``ZVTTQX[]^VSOHfc\RSYTONOUWXHKKHSYVUPMKHXYQKJQHCKNPPJGQQSXXNIPQOJGKRVUUPPPUUQFJMUYTPRVYKFO\^ZPKINQPSTPNVXPIJMLHDDHHHNTUQOLQVVRSUX`]YVUVTPJIPPHJHMROLJOUQNLGMPKKDMVcoriURTURUUVXRKKNHGFUZZVRSPUT[d`VRZWTPRX__]jmd][[TMQLPURX[[VSQVX^c^UQQVV\^^aba[Y__\SSRYXKF?MPVZWTWV[XXVTPT[][UUXPRTZTPTTTTVZYWYZQFHQYTMQVWQJJOWQLMV]a\SQRNORSXWTY^\XYZZ[^d`WOOPTNPQblpl\PPWPCFNSSRLRSZTOFIR\]^ZZTUOHJLQY_WTSca]TLPDMX\ZX[[XQLGQXZVT[^`ZFFMQOXXVTVX]ZSTUNKSVRNNOOFLXZVMMKFHSVRVYVWTNRMMSRQ[`bb\SQMECLLNMRZWLFKMOINTOMNPRTSQLKRSUSUVYXSOGGBIPOHRX[XSRXYSGCKLTVUQPPTUOLJLIFOOLSQTXYVUSW\ZPLCCB=ECEKWXXSLLLKOORVPJNUOMIIGC@CJRRNE@?GSTTKLJNNLKKNOUQKNOPUURJJFCCEENVZTNNLMUTLJNUTJHLPUUWRNLNOKU^ZH>KSSOOWSOKLSW[]]\VUVSQV^cbZXSVTPLIGIOUUOJLOQTQUZYWUTUURQQGLPVQIEHOTQKOVWSRNHQROSWLCIPROPTORUNKV]YUQHGPTSSXWZZWRQQSNMLQY[WLJFEHEGMQUWRPQSI?CJQQMJQOFLMLPTOEKRTSNDMPOHIMJIIX\[UOHELUVXSLFGKQSTSOILLIKMLMLONJKKJLLKQSOQSRWUTPMOTVXLGRWTW][VRSTNMMUTQSVSKOSVY^a\UQROTTQNNRRMKQVRLPXae[RKOUUSXVZ[VX[ijfS?ECT^fb^\SYYTPXa[PKSXVQOXWRORVUQLSXSVXVPKNQPHJIORTVTMPQLKOSSQWWSNORUWRPJPX^bf[QFCEIEFQTNSSPMKSXWTPOTPG?NQOLGKV\[ZWTMMJLLGILKLLRZYTNNOKJNPMJHIPcji_]]__ZZ[TLOW^XRQTWWVUPUZZZ]UU[YSV\_[TXZROX^aZWZ][_UQY[]^ab``b_UOQTQW[\TOS[]ZVXYSUU\^_WONRQQPLKJHOYWNIQTX[UOPWWZQITTLPX[XSSOLPKIISQJKEELKMJRWUPNXZXROPKOZVNIPVYTMLPWXPQQV^_WMLNRWQ;I\lk]OOHFJMHKGS\_YCM]^EQcKNSVTXfsr\OVS^`\RTU\`ZRUXXSLSWOXXTQWSQVWVUTWSXWZ\[\]]Z[ZVVTXYXURTUU\a_XWXVPUQZZYUTYYXXYXY\a\VUVRVXWUQUXXXVYUXSPTV\YXQPXUYWVXWY\[RY^_VROUZX]`_]_ad`^bb^ZZWUTWWXUVYXYXSSTYWUWWSSXWXWWWVYVVVXOLTUYQLMUVVTTYTXYNSXYVWVTWWYYUTVVSSVXVXUVTYVWXZZWVZQNRTUYZWUNOXZYUTWWTJURJUWRLMPUXUXXTXTQKNRUUW\WTTUWYWXTXOSWNSTRQTUSNOMSNX\WQUVTVROPNTRWSIROQTTQMNVUV[WZ``WGLJIIFGWZST\b`^\^ZXXSNMPQPQOLIOZZUONLOVZWQOQPJLTWZVPPRIGIRQNUVNEFRV[UMLRUZWSRRTWQQOJGBEHKDHJNHBHILNNKMU\YSORPPOLILPPHDLLNQQV[^[YWJNSTROHCDEFX]YQKBGNQTYYVOHJJGKPQJFLACKJJPURSTTSVOKIILJNNPTYZ\XPEIOMONRK@LRPOJKLFFGIIOPPKGGJRTNONLJFINKGKJGGCBGMPPTPMNI>ASWXXWSRWVQOT[VMEEKSWTQIIKHNMX^ZNGQTRRX[ZTKKRU[\[WWXNPLNXXZYTNPNFHFJPPPPLFIPRTWQUSSNLQOORVTY]XPKBJQF=LSWX\[PLPNQPNIOPOKPPSXYUNRTSTTH@OURXYXVTUYXTQNKIMUZWRQMCHKG<>JRRSPOONIHMQNGIGFPYWQVUMPSTWRJ@KSPJRUMLOVVTTPKIQWXXQNLJQORY\YSRMPWXVOOLOTSNSSNELLHJQUSKORSRUSOJPUVXZWSOOORPOOQMLUVLJU\ZX[]UPPTUWYUMMKMLSWPIILVXYOIR[[ULPVYJ@LZig^\TSVT^cYFNQGMQ[WNQBIOZ[LMTWVVYXVOLMMKQU[ZTOLPRNNX\YWTURQRX\]XQKHMQUUVTPTRRY^gd^TMKVVLGPWUORPQRUZYXSRUVPFGW_\UEMTWXWQSPLHGLQMLHMPTTKLSPLHMLNVQLWiwthZXW^ab`[RTX]_\XQOWXTTRV[`\ZXYXWYY]^`]YUYY__]ZWSZa_ZZ[YX\baa`ZTSWYWYZSSQUYZURYXUUVRZ^]ZQONQSRZ\YTYTPPUUPSPSWX^^][ZSV^a^UPRQPSSONMRPKEPVTOJR[a]UZ[VUX\SWZ[VPOT^`THOPHK^^QUYJJOQUUNJHR^ZLAVMNV[L?E4Z_aZ5Q^L!S_duureWJJSJW[WUSOTcb]WTRTUVZTVUPPXYUQUVWXTU[_UUWTXXY]^WKKTTUWSTMMY_ZUXYYTVVWVTQTXXZWUPTW[YSUUXYVWZYUTTUPTZYWWSVWWRNQWVUW\]^VWXOWZXZTRXXZ`c`ZVX]bbcd`ZSSUVXX][V[[YVYVWUXWTXXUSTVTXXXWYWYWVVQQTTOOVVZYYSPTWUWVXWYWPNQRVWYYUTVVWXXVTUXVXV]]WUVZRKOUUTVRPRTW[[UPUURXKONSUQOOQUQKJPUROLKQWQJQTTRPSVZ]XUVOXMRWXUSRVTUVSLKSY\WWOOSQSMJRWSKMSWTVQOQPRVTIS\[QFILNPOKQXTT^bc^^YVUURJFNRKKSOJU_`ZTTQPQQNNQRXRQXbb_YZXYWVRJNTVSRRWZYTLIJKKJ??JPROMRQPJGHKLGMPMJKGKRSJDOZXRJGMMLG>JOUOJKPQRMX__YY[VSRIILNOK@BNTRQNEEHEMUVWUMHIJFQRHEFMAHFHGIIKMNOSUTPJNSQOSXRMOPOORNMLJLJPX\WNIKKGGJIJGHIIJKNTXTIKNJFDHIGLPSTQKJGHQTTTUPHIV`_XWVWXPGEQVSHACLOSSIECHINJET_\SMPPUXXXWVMPSPUTQPXXXSBALUWPQVSEE?JPRSWTOJOPHKMRPPNOTOFOX[WV[ULDKNH@IKOR\b]USRRKHQRQPRRQTSSTLJMOOLBDRSRXYXTTNPRTSKEJRTMMSXVRTSNFGHCNPLLRRLHMKKG?BJWZUNRRPTVY\^VIFMNPUTPFLRSMQSPHFNQPXYVOMKPXZVROFMZcb_\SLOPQTTQGJJLJKNTTRTWRLKIMOSQSTUROKJPUQLLPUTSOR\d_URMKPUQPRUWTNPTVVURQKGGT]ZROLRPBS\VMAFJNZVVWRPHT`VJX`V@GUQOGC>DMSUVPNKMOOQNKNFHJKWXQIILLJJOTRLLQVSTYZ[XYXYVXXZSQQOMKP_fgaXSPSPGIMRSQMLFLTWUMLKMKI?BOVRIDLQX[YUPMKFCINJHHLNLNI@HJKMNHMSUQRdqqeRWY[_]Y[YVROVYQNL\b[VYVXWUNTUX^^^_`^\Z\^^`bc_TSYY\`b_[ZX]_a_THMXYZYXXSPV^a]YVTWYYTRZ`]WPOTYYXY[[OMSXSSRU^ccZT[^a\X[ba]ORV[^ZUTMJLRR\YUOSQOXa_YYYWPOQTSUORWVRZ\TNRYULUWRVZWW_^YVQIUTWMN^`\SUWUPRKNeopgSJHK,$)@ghabfji_JRKIOKRf`ONOWXXYWLNTV]aVXUWQTSUNYXUVWY^[QLRXXVZ[VYUWVWVPSQVPUWWWRUYWUTXYUTYWW^_YWXXXQPUWXYVY[\WPPWVRV__XUXUXWWXVW[][\ZXYXUYVWVZWWVXZ]`_YQUY^^^\WWX]ZWXY[WYUWXW[YUXXUVXYTUXVTXYVYWXZTSQLNSSUPTRWXVVTWTWUXYYSYQPRRXUZZXWVX^[XQVVYYWZVQSUSSVWWVORSRVWYUXTUUUVXTTUUTPRPLKQQLRSTXWXXXVMRWXWTTTVXSVORPVYYWROTW\ZUTQOTWWXXWOOUVTPROMWJOPSTOMORTUTUT]_^NPVSSQPSWQPSRQYY[^[YVNFNSQTYWTV\eaYRRNQQTRGISYSR[a_[Y\WQUUMGRZWUPVRPTTMKLOQJIDENQRVTRLKMOQOMSPLRQOTTTQOSWXRE;DE@@FMOQVWPRNSYZYTLSTTUWTNKTQDELJQXWLCCDMUXUUSQNPMTXUPNSSHLKLPPOLKMOORTQKMWZXTVUMKMNRVPJMKMKMUVQPJFMKNMOOQRJEHJKOUVWYVTQNMJJJKSRUSKGMSSOOOF>AS`baURPPSNSOIIOPSKLNSSOJKUVXPQYYRNKFIMJKMPRGJGISZUX\WQHHEPKIHTSRONOPPPOSUUXVOMOXYOPPTSPOR\\UVSPMRSLGFDFNSZ\ZVOOKGHJNSTTVRNMNJGOQNKCKRUW[[WSQNFKTTLBOUTQMTYYY\ZNEOJOUVPKIMNNOJGFCGOZ[WOQQKPSPMLIGKNKKSVPKKTYVNONPSPMGEVVRLKNWWRRROOUVTZZUTPKKLMOGHMPQQQVY\[XOJKLKMWXTVZYUKIQYXSNUYYSQSU\YWRMQURPSRLOUVSPSRPNXUICRZ^ZQGEHK\_WNVG:GSXRP]ZOFFILOQQOOQSQOLMQOMNNNRNJLVXVPJJKIGGLKKTUTNJQURJMTVVWVPHQROTSRKILHFJPXYXWNFIOUZ\SKSURTVWUNKPSQPSWSC?HPVUSPSKJOMMPSUTNLPX\TNOPYWPPQKJILQVZZTU[\UGOUSKEHIFCCJJOMQPJNNSY[UXUVPMOUVOT[^ZRXZXPKQ[\[VVQPNKNXZUPU[WPLNRUTVUMIMZ\VNPL@:IVYWUW\ZTPNMNQMEGPSSLQXZUVTRRNNSQILZYTJIHKNSSQPQNRWSOQOTWXYUPRTOPOGGNFBIKNLILSY\WMADKMMHEEGDJQTTQRLSTQQSQHFONHOOOSSMKJNUWUQQQX[WXRODQ[\ZXOHCHJMQVWVNFHKOQUSQNKJKW\YSW[ZUUYZZVOGIHFICGUSJJWQQWXXXXV[RL>GJYY[WTDAGCUX]XYVTIPWSNNHOPQQOOXYWONUVVSMOSPNMTWTMPUSROJNRYRQPWX[\\[^XSPQSUQQWWSLQMHLPOOOGMVQHKSUVKJQVVSPSZ[XO=JNMMQRTTPMHKNNOJNRRW]VSJOLh}…}kVYTPRTTUZcd_UUT[]\UPPTXVWVZX\`cfbYW]]WOOV\\ZST[aa_ZT[baXPTXXRV_`\YYW[^`]\a_XWRPMTUWYY[WRTWYTUWWV[[WRNLFILTUOPZXWTOIHHKSZZPSSQMMMLRXY]VNOPVXWQRRU[WOOPKP\^_\^VUSVVWRYVQUXTNRRMIRXZQXV\Z[XR;JS\ee^WR_]XV[\O.Q^fVJ1@F1TRMcieNWWNTTYXO^qmWPSVWTVQSYXXUSOPLXW[^]]YUWYYWXVWYV]a\VYXUSXYWSVWV\baUUWZ_\Z^YUWWXUPRUZ^YZYUPYYSYWUQXWWWTUWZTTYUX[`\VVX[YWRXVZX]``^ZYUTUVXXZ]\VYV[`dhgUQSVPMTUUUPORXXUXUVPKLONKVTTOYOSQSVUXUTQVUXXKVTVMYTVWWOUW[\^`]UTPLSVOSVXVVSOWORVZVVYWWX[YYXTTXVRPSQRWWUQOMWVUJONUXQWWTRVUSTNRTURVVVUX]^_[[UUWTVURORWRPWUQUTUXMIOUUVUSJPVUTVTLKNPOPLOSVTJWT`SFHVZSPQOPROMOOQV\XSLMJMJGLRSUSROLLIJNTUUSKMEDLMJJSSOW[[ROVVX]]USVURQTSONLGFGJKLSTQWZUWXRNOTQOGEMQRUTSVVPLLKMOQY[VJKQRIIKTROINW^\SPMIIRYWVRRNJKJE?AEGKROPSZXRMGEFLFHMOUQPNKMMMTTORQPIKMSVOHLLIILOLNPOHCLRXYRLPVVXSNKILGJNNPRSOMPV[\\YRNMSQRRMLX[XY[YVUPLSXZ\]YTFFQTSQRTQILNKLQTXSKQX[RLNLMNSVWMKIMS[\[XY^^WMPTWYURJEMOOORVXUQPVUVYVRIKQONQXUJVY[VNOVTSOPUXYXTTURSSQPJPVTMMUXSQRPNMRWZVOMMIOPOIMLNMQONLCELSSRQSOMLPROPSTSMQVYWRRSOOKKRXTPQUWXY\WUQRZUZ[TLNTUQLGKNJGGKPMHDCOUSQPRVQORRMAGLQNGOPLLMPZ[ULAEKKPQJQTVWSTZ_ZSQMRVWZ[WQOV[[WOHGGMV[[\`VQPTTWQRPQRILWYTP[\VWXXZWUROKNUUNQ][RSZ_Z]ZSYWPF>AMem[]`aZVYNJIXVOPWYUSTWQKJIOSRKFKKKIKRTQOLNKHIIJMRSUYY\\[RNPSPSTRUVUTRRPNMSYVLKOOIJEEOURRK@PVNHCBMU\ZVLIJISZ[\TFEMMKNQTTSUVUURULKRRUY[VLLXbryvgUWSKJENSV]c`WQPMOTU[[[RUYYY\`b]^_[Z\Z\]YV]__WRQWTPRY`caYUWZTOR`efb][Y^_^\bda[VUTZ][YVXWYVVPKSY[Y\ZWVUSSPQQUPSY]\\VQOMMY[ZVZZRLILPWYZ[XPT[\ZREHFLJMNOOPTRPU]\WRQPQLHSZUUUQDBSSVYXUUQCU]]][RCRZ]\[MHQ_][X]SA.5EYJ/PVXMPJXrjWTRONS__Tdlhc]_hdQWLVTWU[[YSMWWUZ^b_]XUXPV[WSOV]^[VWW^^^XTUUXac_XMQWVWV_a\WWY[WLPXZVXZUVUTWXVVWWW\ZXSXZTNUXY]]ZXV]^`\YVZZVV[[\ZWWUVUVZ[]ZVOV[`hlpoQPPOMPTXRWRUUUYYYTSNMWUUWXZXXYTRTXVURYYVTVWXXNKXKQXUYVTX[WWXZZXPNNPQMSXUWXTKOXV\^\VZZYVVUSVWTVXUSKXNWSQPTTUQORVRWXOVVWUWXVYXXTXTUONOXXYZXTWWXTSUQQQOPQMJRQQJPUVZXTRSJUTSVSNKOLNSTURUVUUOLU^SORWZVLHJV[\SRPRSZ^SNSTTRMPQIIHFHNMMSX^WRUWSGEIILSYXSNWZVX]_ZXTQRUSQQVXXUJCGDJSVSNNRQT\WQJKLKKINJORRVVVXTQNGMMOW^]SMSSURRSVPRUUTQMIA@FMPQQRQKGFNOHM[HCHaokWWIXffUSWYebgdTWYTafil`NR[UVXWVXPSTWVSUab]\Z\ZYVWWVRQUZ[ZWX]_]YY[WZZ[WYXUTOMQU\a[YU[YWVTWPWWXUYVSZWZ]_ZXVVY]ZWTYYVVUVWUUYZ^[ZYVRXWMTYYZTRVZ_`]WUUZ\[agjjVUUUVYVONQQUSUUYYVURQXUYUYUWYUWRWVXV\[WSUYYTMKPTUTXUSPUVWYWVWTZYWUSKPUWVVYUUY[WZYXVXVTUSSVWYTUUSPXJKJVKSTQTXXUYTKTX]`]WXWUYWVRTSRWUWXVSVVTUWVOQSKKJOUTRWUWKJPTY`VUROTUUWRIMRRTVSTUVWSRNUWW[UQRXWVVVX^^[TUY_^_UVYZZTGJNRONIHOS\\^XSWZ\XOGHEGLNMIOWROPVXYWTLNLIDMXY[WQLKGENVUKORJKTYUPIGONGBCHQSSSTSTSNJPXZ\\\UNQSUSRPKJOTNHKLKKILQSRQSVQOOOUR?;FFGJRUTNHGHIQRVVRHFQRIEAGPNHHNICIMHNSONQQPQPHDKJKKNSRTWRIHMSSTUSOJIJMJIMPMGCDIHDKUQJJMOJLKNPPJDMQVZ^XUTOPNOOUVTSNKPSRUSKLQSPLMRRIIMNRUNKQWRLLPOKGPRWTRSMJVbgbVRNPPSRWWUUXXXSOIGAA9"DK'NK8VYRUYOP_^ZT_if]W`^UY^]`d\TUTSTWTWXUSWKLTac^UUWWVWYWRQRWWZa`XSV]^YWQV[ZV\]XYVLNRYZU[YUWWZZUXUWWVVZ\XW\WX^]WVYY[XUVWVRRTZa\VXV\\[YWPWXTZYUYQX[[_^ZXUWZWWV^^cgUUUYWWZXUORXWSUWXURXVPNKQRQXXYUUYWWWXYUVUNLNMQQOTWWTSYUWUYTPYVWUVWRNUYUPSSVWZWWTVZVNOQOOLSVWUXVVTTTVTPKJSTUUUSSVRJSX[\YWXYTURLPSQVUOPTXWTWX[TWWXPMKUXYTUUUOPRRX`]USSSRSWPJWMRVSPTXXXTUSPNTYTNOUYWRRMPRROX\_]TTRSUSRLGIPQPTUZZZZTS][YZXUSXVVTNLVXTNQUY]`YYWWWSXZZXW[]XQKLPNKOTPIRWVUQLOTTLCFOQPHDJMKNTQPQX\YSRPILOORPRSRMNRYVQJEKTSURSRUTTZVNGIDALTTTLHNHIFCHNIIMUZ\UPHFPSPMGHJHCLTSNNIGINOQOFHLGIRRNMJGHJPVUOIKILJHHLPRIEGGIEHNJAGHJJLMKEHIGCCITVNQRHLJOTXUSVTMRWYYWQRWVQNNQONJNOIGJKKMQNJJNILNQQWXYSPT`a^TLMQVRLLIIJKNSUQPRLIEHQRJAFKKFMSSNLNRIIGLQQPSRRKOONLTXXNJTY]\[\ZZSOOOROHKTQKLLLLSXYTKIKIDHLQQUWVIDCGELPRLKGIIJKOMHLOOTXTNOSUSOHFHITYWOGIMMPKJIMYZVTSMGMKIOKEIJLMRRRNIKPQI>BKIECKSX\\[XUSQVRIFMSUVSTNQVTPONJEONU\^[XQKPRPQUZXSOOJJHMKJLNKHLQMPQMHHWXS]ZJLSYYRGLNKJORTWQGJPLPNIR\`]\QLPWZS]c`TXWQQULLOXTHKKJKMW[\SMNJS[VSNONJGEHFHMPMICSROSUULISZTMMMMQTVMLONNTX[YPLQRRNRURMALPLNNPF@QTLKNMCALSSW\WRQPRNMSOEHLQMFLMQVUWXSPUUTbmpfZNPYXSUZ^WVVWRQYSRS[^]XVWZ\\^Y^gfZTZadggbaccbY\\`ddaY[]]TPX_`_WUWYX\XTYXYYZSSUVTORPJJMOOUZ]]\UWXVVPPXZXTRVXV\]ZRUWX[ZTPS\_\YORUWQQRRUOMRXYXTPQVWQNPTQPSWUQRNNOQZUI@HLPQOQVOSXRPY^_YPNSZWSNZ\SMFDSE??:EBPK7R`a`U,1CV\]RbaTVSSJSdsrf]ZU[a`]ULVSVVNTXXU[TW]c[XYVZ[YYYTQQX[`caYPPWZUVQLXWWW[[WVPOXb`UVWYTRXVVWVYYUQRSXWWWTW_WRWY[YXVXUUVWYZ[VWXcfaZV^__YZXZYY[`^^[UUY[XWVXUTX`bTVXSTXYUURXVVSPPVVTRMVWPTVVVWYWYYWQQQWUXXYTUYUWTYXXVWUTTYVWW]ZWYRLTYWNLORVXVWZVUXVPRSQLMQNNOOTSTUROTVQQWWUPOQWVXVVSX^_XUYXXYWUTWVTOPRTSQSWVRTUXQLLOTXXYUUVWVNUVWZVUOSTRTPPPSUQMT\YVTY[YWSSW>JQQV[[WQONLGV\ZRJEOX^_[RJNNSUYZWSTV_bXTW\[XVPPMLKOVROOQV]^ZWWYXSSY^\TXZTRLMTSLLOLLOSNOTQMTUSPOMOTOJFHEO[]XMHLONQRQLNRSSZZUOUVYZVGEOSRVUOPOMEJQNOONQV\]\SOLNMPGCCBFFFT\]\YRNRSKLRXOJMTOLTRMPJITXRQQMHJNHA@CKLMXZQMNNKJKSYYXRLHKNKHFCCIIJSSQNFFKKDABAHNSWSONGLKMLOQPNSRUVPQTUQJJPPJHFLFCJJNUVTLPOHNVYRSUVWWU\^TQRSWaaYRIJRSRUUVX[VVVSQSMCHKMNSRQJICJKJHHLFJT\\XRVUMQRSJ?CNQYWSRPKPTTTSPMNINTVQNSXYWRIKNMOOJIRWRKMSSPNIIMLJGIIMTQHMOSOPRTRUSQPLHIHIPVRJCU[OIINRMRXYMHZ^WOU]c\[`UMQIAMWQGLFA4:GW[SOOSNKMNSQQQRPNPTVTI;GSSOIJFGLUWWOPNMILPPIFCKOT]`\QQYWMQZ]XNSVRTX]VOTXOIOGBPPSTVTOQNLIRVTL?CKOOQQLAFKQWUV\[\gw|xl^VTRNRZ_]Z[ZTJPQKKTXY\YX[\_[Z_abaY]glj_U\dedd_[]cc[ZWW[ROUZ^]USUTUZYY\ZXXUTNOT[]\WQPOOPT[YZVPRUURTPRSRQSY[Z[[YWPTVY]TKNPQONXXYXNJKQXTPOTSRVVSNWYRQSWXXWRPYPGITSQRRHISROTVUXZVOSVb`\Z[XWPNSWPNKJPSLGA\aaZK9Tf`XUQIED]eX\VKSRQRVT\\V_YLOVTUXNSU]b^XRTWY^WX]_[VTW_YXRUUVV[a`XPUOPWUTTWXWVXWUZVWQU\WWVUOQPPVVUXYYUTQRYXZWYVZZSUZ]XXVWVONTUQOLTYbc[ZYZ`XV_cba_aa^\\UVZXUXXWUMRY\Z[WWTRTUSRNWXTNNOSTSSYLSSXVTPQTQUUWPMQYY[^XXUVZWXXVRTVSSWWXV[\][VQVVYUYUSUTX[_[YXWUVTPOUVWLKQTUVUMRXRRSVXMVNUWUPVXTXb`WVTUSWYSOSSVVWZYVTTYQLSSSLOSNQUVQSRTTTOUTUUVNPQOMLNNVVWSLKWXXUWUUVVTRVSMUTR\`a_WSNLRXVNFHO\ab[NCMPPTUWSOOWbf]QPRQQQX[^\URQRSSJLT[YURPSW^\_]SWXWRQRTTHDILEIMMNURSUSSOPMRWXPIA?LS[]SGCHLMPMIIOX]]ZTORRRSQLMRKEPPPRNKHCIOOQVPX[^_SJJFEIJIJPPIJX\[XSMIORFEMW[WWRMMVSNRVJNTSMNONFJPRRWWXVXXOHKKGDEMSRWWPLLOKEHMKSUSSVQMNPJEAIKFDJRWWSIDINOLHJKOLIOQNPTTOLPLH@JRWQRMPOTYYUWROLLT\\WKGGJJO`aZZ][MP\]UKIEKVZ]ZOPTPONJJNUZ\ZRRTSPPUWRKEKNKPX]ZYQNQRSSVYWZistnaUIIJ@LTYUZYSNOQLSVWTUVX]_a\P[_dhefgdb`YZ_XV`\\\begi]TTSUZ\][[^^ZKOV\`^XUSRSPW]^\YUSJOKPQNNONOUVVXXSRSU\a`[ZZ[[YW[\a]QMLTSSTVSRPPPW[[VUSPTWWW\ac^[UY]_YUTXUPOUOJZ^TIJGILMSTVURQY\]RUXYOQNNPJZ`[ZTPG;SPM]`URdbVH=NMXajcOPRSSSUOOTNQMRMPTWRRWYKUdc[UVXZ_^^`aZWRPTUXXZ_`YW][YXZWXUVWUUSTUSKUMYWXUZUUZUSXXWROXSWY[`\UV]^ZXXTVTYYYVWWVQPRVVZWW\_a[VQOYVYX\]_``__[Z[[_]XVVVYXWQVX[YWXWWTTVXVZXNYKRTVVXTUWXXRNVLNNUXTQUSY]]XVUZ[WSTRTTVXZZ]WY]\YXVXVXX]^XTURRYUUSVTWXXXRSTOUYXTRQQLKOUWRSSOONMOTVUQLXYWUVXXWWYZVSRWWT]\ZXTTMNVXVKYSVLNRRPQTOQPUUPNLRUWVTOIJRWUOPMWWWVRRRSQRQPTWZORWXWRXTWTNRPONPSVXWSQMRXXVTUSSU\`[XRTTPMRVad`TNUV^`YLJHOOTRNTZ]`ZRRZ_WPXZXRKRPLFJQQQWWZXXYSRNQPIEHMRQVXSHIKMQQTSRUWZTMHEEJLLTRRNNOJIFIMJOIIHGNNNKOQUPNVRFEECMXXNLRSQUQMKRWQJGIPRVTRTTPPVVRIGIHIPMKFKOTZ_[Z_^TKOTSNPRRNOSMHSTNJTXVUYVURJKQTRI?IMMEIQTVWSPRTOPURRSRNJLNPOQOSUOJJLPVJCAJQXWUQPPSQQNSVSHAKQROXcb_XWXZ[ZTMKLOPRQXXYXUSPOPF>?JNSYXVWXXOPVXWVVNS\]ULGFEIHKRRRRTVTMMNRROLSVUQLHEDIPOQPNINQTWWUMNROFKKMMONF>AKPSVSOKHLPQJINLKILJKJFMRNDKGEJGCRWVSVPLKQSIHMMIDKNVZQPMKSTQMQWVVQPYXQLKFLQQMJIOTPSWVXYPNJNSOJRWQGKTO=KT]^]`\VOPRPOQOQQQRVZUEDSYSPTRLJF@ADDIJTPOWXW\\UUWOSRNKLTZQGIOV\ZTYYCALQTQQGHHJEBLMOMHGJNPQGDQUQNTOFHGEKVSSSONNRVSQRNJKNVde]RSRSWTLIRWUSUZZSKKMV[WROORTQRQPUXRLQTTXWX[OFKOPQR][UOV[UPKQTUQMKPUSOPQMJRUPPQQOMF=ITYUPOSNVVRWYOOZVLGMQGY]\R?>BLWY^[F-=&P\[ZZZYUOTWUMOLOQVWXZXVPLLLNSNMBMY\ZXMGJJHDADLI>OUPRRQPMJNGBGNRQOQTYUTV[YRV\^^\WLIBBBCLQRKKTWVJIPQLHCBLKCAGLMEBOSSNCFMPQOPSOV[SMK@AKOY`b_a`WUW^b`ZVQMOVWUOPQQOS^d`^`\\^^a`dc^XT\\]bc`c_dhfcfb\]^\]]ZRINRVXVWXTRRSJHNPRY[[SOOYYWYVQTZ[[ZZVNKRQVWRLOUYRMX\[U\daZUPMUVSRRUUONPOPWTGIQSOLWUVZ]^ZVVWVWUSURQXY[]]X\Z]aZWVUQOLLJOVSQIAAEMTS_mnehf\IQZOHL``ULiwxnfoxtfQPTSccVMildPTRIMVYWWY^\``^`_TPUX[`\\^[[a]\XOUVXVXX\UWPOOVYWPOQTTPWY[X[ZXWURV]\WWTYVYY]_ZTVXOWSXZYYUX^`YVVTYYWYY_ZTOUYVVVOUNXZZY\XXWUY[[ZVVXVVXVQSYYSZZ[]`UUVXYRNTYUXUYYTXSLQSUY]`_YUTSUZYYWXTX]XWVWUXVW[``WRTVWWXMTSXUTUOXUVTWPNRUQXYUNORSXXXXVVYWWZYUTSWRNORQPPWVZYWSPRWPQTVXXVKRKPKKRWVXWTWVRWWYRQVURWUSKQXZWUSUSPMKUSWOQUQOMVYWTRVVQSVUUOLKIJSWRSWPLVPP[^ZYVUSWWVTSTNOPX[[XQU[WPLV^b^WHFOOOQV[XRPQPUZ\YOKORQQJNRRNUb^ZOLHEGOX`^XWWPJECDNTSTVHISSMNRQNIHSVNKPOKRVQMLQRWUOKHQPHKNMJHMQXWPOWTPW\ZVPJHNIEPRORZ[WRTVUMQUTPNKFDNNLONCSLLPWXZZSLGDDJMHIEBGOLIIRVRROGHOONPPPOFGKKIGKOMK@AHJOSPJDDKNIDQXWSPRWWUTNEHJHB@KPVPIILFLOPVVRKIIIHRTRUUPLOQPRRNKKNLKHFFHKKKNMJIW]SEJQWZXWUSOHGKSXPRTTUWVSVVQLNRUVUVRGNSIKPURPOIFHNNOOMLNOPVWVLBCLQUVRKMTYUQLJLJFJKMOUTVSQNPTTRKEAEHKC?HNRRIE@@FMNLPNJGHD?ENMEMTQMNXXMMMKGHPSLHGNSWTTTHFHHS_dZSPOMQOQQURIIW[YUMJLX^XMKORPPWWLSZ[QJPMTUVTTOMGKOTV[UKNRLONKSUWVTQ[ZQSSQPQLMRLLUWN??N]ZTJGKMSLJPW[YULCKTTPVXWTPONCK\WOOQH`bc^a[FBBQWYZYKKDJRZRPOKMHMPQPLNQU[\WKHJGCCHRTKNULDFLRQRSPNKLQLKQXVRRXZ[ST]`]ZYVQMJJKOYVTUXZSLLRTKIOQ[\ZRTXXPIQXSRKJKPQNSTY`_TBFIQVVZ]bbd_]^^_cd\WUXVVUSSQTSMPZ^\\][[^^\be^\]ahif_WMMT\_ZUVWV`ee]TTNIJOOT\\ZSPRTMIOQU\]WNDCMVY\^XTUZXVXQMGKIKQPRXWVSPVb`YW_`^ZOFLPQQTWWUJLPPRYXTXWJGKQSY[OJLTWSOKQPQV\]WVUUWTV[\RMLOSKLLRONSUVRKUYZ^`eaUKLGNYJNMNXS8apvpfaZeRPTQIEaWW[`QUSJHKW_^UVWa[[U[\YX]\bb_VUWY`c[W[]ZXY\^YRPXWXQPKMUSQTVTUTUYVZUOX^`_WXVQWUU[_ZVWYYYUYWYYRY[VVX\ZTUTPW^]ZVUVUVVRUWU[][YZXXWZ]]YZ[XYXVZYTUSXYWXZ^YZYVRXQXXTRSWQNOOPUWXYY[^^VNPUUVXZWQRSXW[XXUTV_b^]YYYWXVKRUOPNQTOOSWUOPXTVWYTPNQUYUUZWWVXTWXVXUXXXSQLTTWXVVTVTWTNRXXWXVSKKQTUVWXSSRVWTVWRRSWTVTVUWVX[]WSOUSTWQUSKMRRQOVWWUUTRVVTRVSPNLLLPQTVWUTRT[WVOMPRSTPTYWOONP[]WPTUSNIMZbd_PEFIMNPWWXXYQLTUN@GKSXQHKQPKIR_dd_USMGNXYWVVPIJJLRSUZZMLNFBDOURRMKHGHOOOPRTTSGNQMNFGINFHKKB>MVXVVWPJLZ\YUTRUWPPOLFLWXOGIMONLNHGMPNKMOIUWSMIFIOMNPJHGDMVSSVVTPNMILIBA>KPLJCIOPRQSVWQKNPONQMLQROOOHLOOLNSIHOSQQPMKKGEFMcjdTQXYVRUZYUQOKNYVJMOPUVTSRTQLCFLNPQTWWYTSUWXSG??ERTUOLLMTTUVQIA?APQJIRVUUTQNRPJONPUUOWWZMIIIKLJHEDAB?HOQRGBILMLLGLMOMMHBEOJFOSOIJOOPPRQLJMNNHEDMPQUQLOMLRZ[WJJQLCJPQOPOUUZZSQSTU[YTLHBCKUPE@KVQLLFEIDGMQROFHILOSQUSMQRQPVWWTU[ZTQTRNNGJOORURIFEMVUPLPQNLDENUZTPDDQWVKHNQNJKNNVXLLPKT]b]aaZW;-3MRUHF>AIKLNPQV[ZQMKLGKHQTX\ZOJJJGEGMNKLV[TOKMSVTPMRVUKKIJKKJTXSRLPQPNQVXRJHSWTSMHIMJHGIRRLKORSSPOONVTURVXXORY\ZYTLKLKT[bc^XTVTNLJJOPW[ZVUPNIOUUVUURNHNTUQNSOQSOPQ=ANNEDKTSQLJONMNPJBGHFDJMQOMPQNRRL?=DFMLLJJEJOQX]USQNLKJOITTOJPOIOTRRPKLIPPTWQLRRRPNONMKHHKRRJGJPQSQLKOVVUPNSRIEDMH@HQTTOOQSRTSWWUQVZ]XUPRMOOQVVUMIGQXSJGIHLNQTQNLJG=>GPOSPPIKSVYYSMJCMVVTUSUUTNECKNRQPRUNNMSSRLIRZZVUZ\\XURVXSMPM==HEJ@HGY^YTJ<1ORV^ZSBSUQPKLCOVNLNINVYTMHTUOUXWOKQZa\QNPMMMOTTVQNPUZ[VTWTRWYWTPSXZ\^bcb`\VTTSUTTPUWNKNV\VGISVPMUWSWVY[VQLA<:HT[ZSMOQQIKFITVQQU\^``^^^WOFT]ccWMOVXSQWZTGV__WPV^ddc__^^_ZW_^[VRV]c^Y`c]\ZXZZ[`bdaYTTUWZWNNSPMLLJS^`VPKTVOIBU\[TTVV[ZWTSSQMRVX[YXXVPRUTWVTLJEP[[WTSW\`a`^UPRZ]^[ULS\\NOUWVWUPPQPQSVX[UPPOHMQOY_]XIGEFOUUWVUSX^YWXUVXPW^]_aW\@7;KTPJEOXXTMJMKKUTUOQMKOSPGDINPOPKOV[TORWYPNQRSUOLHDFMNLKJOUYWMKMMNRPPJHT[cc^QHUPECBCJVUJKMQRSJHSUNNMMAFMQSXTQNMNQRQNSVTRRMMQQKNPJGMNMIKOMIS[YWKJKNKOOSSSPJINJGFGFHKFBLQQTTTGCHNOLNPQQOPVUTUVTKLSQMWY[[ZUUVSNICLNPVTTSVZUSVVRHKTTMQXYVRORUVVPENOQTKLNH?GRQPRPJGHLFHJLOTSTSIEECEKLSRNI8BMMIJJMTXXWLFKRTORUTMKMRPOOPNLFITVSUUUL2O_`QLWZ`ihfgeXO:?HWUQWWOFO^a_[[Y]_RGU\VNU[WIVSSSSULLUWQS[XHMONQSUVRWYY]_eh`\UPQUY^^[PJV]a]SQYYVLJQWZ_]\VOCLRPILQUY]\VWZXUUWWWUTX]_c^UUWX^ZQ[afec]SKOTQKOUZ^^XWIJV]_^eb_a^[[XYXRR[c_\`aYPYbd_WQTWUWSZZZTUTMNPKOSQSWW\_ZTTY[UY\WRTSUVUUPNRXSGMRTPQOSQKLVX[[VVZb__\YUVUWVSIHOMKQTPSQKIMMMJJLOV[\\USXZYVURMDHOQTWYXVXWWRQVUZXWSSRTTX]\TTXWTYj^OIOUT_cfbNW\`^P9#J`YR25aPXkpn^USMVNLLWYMZbbb\`UUbWWLNVX`bYRW[XYPPVVYTY]\YWVTY``]VSTVTNMSUVXV[[XQQSVYVZY]][[[YWXYXX^\[YXUV\ZWRQUZb__`[UWX\[\YUYWW[_[USW`b``ehfd[Y[_]Y\XY\^XVXYYUXURKNLTUUWXVWWXOPWVSTUTYWTLYWYYWV\^`XQPUTSXVXVTTQRUXURSRTVYYQSRYQTTSOXXYXVSWWVWRSXWUUWUXWUOLNSWXSUUTXYZZ]`[WTWYWVRUVSMNSTXUSVQX[ZXWTVUTWUYUWTUTTWVVVMUYVRORSSWSNOIUQVSVSOORUV\URTVXYXWWTWSWUTSHNPNSY[UNSNIHQSRMLPMLNZYNMYggd[TMDJNOOQMJJGNSPMRUVXVUUXSNKOX][SJEDKNMLRRNRQLORTQOWVLJONJMRRLSWSNRVQIGCJRUPLTVRRVVTZ^ZONMQWUPSSRSWXWSWcmrqi][^^ZVSUTXRHEDEKJIFGLSUWRNQ[[WMINKJ@;NPNNRTNNJIMOSVVVSOMQTYXZVSQSSVVTOKGG@DLOVQD:AEGKNNBCKIJQWRPLOOQQPNLKOTYWMLPPLOPMPMFPVVMFLUOEGPSMOSTKINQSUVQOJLLHCGKQWURX`ig\OMMOSROHJLQUUQLPQPTVVPHLXXYURX\]ZUMKFVNPRHHMTTRTV\[RDLNEDQRKEMQMGLPMKHDEBGKNOSUNNTVOSWTOHDKNPNHFKZ]YWQUPLEFOQLKGFLLLICAC@:GTVTQOPJIMMHFKJKKGMUZXXQQWUQONQTOQOPSZYXTNHINRUWVSQUOQTQPSSNBHPSWVOIRVWRPXWTWWUWPDHLNPUTOC=AEOUURLOPRPLMLKMTROPM@@JSXSJKFJTYXROOROPZYMGNPODHKNOVRIIJFR[^QM[_ZVX]gfc_[R93HU[SISTI=MSX^ee^YUVRRRRPSZWFGQLOSUQNUURNTUIMTTVTUUTTXVLXcaXTUXUX\\^]PHMRTYWTWYTMJNNJOPTXRNKSVRTW[Y]WPNXYYURZ]]^befd]OS\_b_Y^ffhaXJHQSROQV[^][SMINSX]^`\[TXZX[`^Y_b]U[YVU^`dc\RS[WSWX[]]YVMMRPRZYXWVWWTNFNRUSWUTWZXXVXXX[ZULLPWZYVWXVONWUQVYZZUU]_^UQOWRI@KQUSRQUULOSVVQOQQV\`\ZQGQSRTYSMILPRQLGMPQTTPQTSSUUPGFFPX\QQ]]P[b\ONZVUPL[eQE\cdW\`irzmbCGSI]nrYTXaZOUXPTU_ZQOWd_WUZ]\WXUT\VUMLWTUY]YSOY`a[TWY^da[ZWXZUOUKWWX[`[XPQUQSVY\YYVVVW]b_UUXXUXWWUZZVTWX]acdc_^ZWXXUUOYWUX[[ZYX\`^^dhjda\^a_[`c]XVXZWUTXXTOOPORVWOMVRQRVWVWVQXQUVYWNTYZ[VWZ\VPRVUYYWPXXQVVYXWTUYXUYWTUXMPWRUXVXXXYYXXUTOLVXYXVXU]\WUVYXTVVTUXUTVTUUXTWSVWUUTVLRNRUVMNRRU\ZTSVYZXX]^ZXUUTSPPQKMWQIWLIRVUUSLOPTTVWURVSMPWWXYVUVVWTUSWUTSUUSSU\_WRVVOGFEBELSUJDRROFDT__[WRJMWUULA=LJMYZTMJPWVVXWOKLU[\_XIEFHLLJIFKUZWTRPMNQQSUWOLJMNRTXUTQSOJQHHLJJMSQQNQTVXYQIMQV]YWUSKINTUVNFQelkeowthROMKQTNLJMPROJIJDKMMPV^`YTSQLIQLMTRMMOPRNORNNUSRVRRMNJOUYNJKKLNKJHFEJNRT[YNMK@;CMNOONMLPNIIOORTSQKKSTVUNFCEMTWRKIIIJQSOGNMHGOOIHOTTOMMRUXYXSICIHLORURRUXaed_WXY[YWTLOMJMOKFKJKORTUW[WUQPSU_]Z[[XUNIMNOMTTQSS\`_TLMOLLVZXVXXWA9ILLKMJCEEKSRSNRWWTSWUQJHNPKMNHKPQSTX\WKLNRQLKOMRSLKGFIIABHMONEJNROKGLSOHFHHJMTUPJRSLEKPPJHFINWWW[YVPMTVYYRJKGIHHBKQUKIGLYZZTWROIMVXTSWSQOIMRKIQVUMONKLORRJJKMNKLONOVWSMIEGLLPRPIDNWWRMJMPLKTXLJLNH@Q\WPXYP@LRQVV^[\]\ZRETNCNROGKXac_YVOKLNJHT^^UURRSOSSSTYZTMMQURSRTYXWPPTPRYVTNIOUUOKFR_]WSROLQSSX]VKJTXRUSVUXSQUVUSMUUSUSSQPORUY[\YYYYZSRY]\`d`^ce]SU[be]]_fec]VMLPSUURVV^]VRWVSV^_aee]Y_\\`dddb][]__\]^dc]YZ\XRVTMNTRQNQ[ZYY][VUW\VWWWXVVURQP[]VQRSSUVYWTRTXVUX__\VTPNLPTVNS\aaYNPPTLJOSVURQXUPW\^_aXOUYYZXUWNKJJOTTPORRF@HPXXQQLIQWYYXXRIFO\[XYP\bb]RINYTZ\aRETK>PUSTZb`gjeYOH=CRpiNTTTJMWkpXZYXPXWX[SWYbbXRUXTX[USVMXWZ]\TWYY[ZXYUZY[^_XUOXOVVYWUX[UYTSTUTWYXURXXWYZYVXYTVXWXUZ\ZZTTWZ_`\XWZVUUSQTTX[[[[`c_XWYXV[ZYW]Z^]Z_a^UUUWZXTYSMTLPOTWVTXUWXPSXUWXVXVSQYSKPVXUUWYYWYWTTTPRWROQYXXXYYZVUVYVSUVVXXVSWUSXVXYUVWWRTTSXWTVYXYVYTUYWTUUVXTUWYXWUVWUUPSTWUVTUXTSQXJMPX[\UONSVWYY[\[YWWOVWLMTRUVOQPQVTTTNOOOSXUWWVVRNVXWSTTSTQSUOPSSVUXTW\\XSQRTQQOJJLPRGAMSTSLMRVVYYROTPKHKJLOJVZSHGJW[XWSIGQ[]bf_UOPMRVSIFNUWZSKLTTNKQ\YRNLRXXVWUVZXMFNNNLOQPNPPRRTRMBCGNPRTWOTMJFLIOSUMGQ]ZdowumhfaUPJKMNOHIORPJHNLFEJNNKORRLFFLIMTVWRNJOVVNIDCNXXIIPVTUXSOTOHHKMPMEHRSPNNPNHDILMPX^[YXUSMIMQPUVTSUWPPRNIJ@ERXXSPLPSXZUKJNSY[\[WUUTQNPNNQSRSKCIKQZ`b\\^]\YZYRPUZYWWVSSNLPNHINMIGMPUQTMKLKOWVSWYXWPRRVWTJMMJNORUTOLOMKQRNW[`\T@7DKOSTOLKPSUQQYYX[ZUSNFQUQKMRLGQRQSTUTKNPRLIHINQPPHIONLJDA:<@GMPNMMPSSSJMNJEDJQNILTQPOPONG>;MRQPUXZZNCDFHLRURUOCDHTUSOQY\^TWVVTJEKPKJTWRLMNOOINSRRTSPONOQQKJNNMLMNSRRMNJJNRQQSRRSRXQFBHLQOEPWSMQRH=NZVCLVSLOUWLKU]\SRRMGRJAHRSKIR\]WVTXWTXTLJJLRRLQYWOGKFCJORWRKPRQTYWVQLLRSTTUTQOORRNPRTYa\TOURMPNTXTKMWTSQX]b`]X]\VPNQLISVRKRTLLMU\[\[\UVUWTV^cbUZd^OLP[]YUZ]dbb\TSUYXUVVV^ba^_\SOR\Y`hbZdc]UW]bb_aee`][WWUVV[]YXY\VRQSWWY^_[QOPSWMPXZ^^ZVXVWURX]VSWZWSSZ]XRYZ[WVWXXWWVTUVYWMHSZ\YWPPLFFLQTYVV[YZWWY]]XLOUXUTRSPTSLPQWLLTP>=JUSUVSMIMWX[[^XVSWZYXXUW[]YI;KOSUY]KER[/=MLZ]XXTTUKPQcjhstjc[QNZaiuxi^WTUVV_gdW_eXWXWUbjd_VNKU[XRSXYVYWUVXTY[ZVTWQWa]][XUXXXVVUXWVVZXXROVWTQSTVWUWXXVXWZWXVRSUWVVWTPRUWU]^]Y]ZVV[_]YZ_ZTV][[\Y]\XUWYUVX__^XWRRVYVWUTSY^[VWVWVWYYVTPSVWTUVSUXYUXYWVPMSPUXWQUXVVUWUVTUMPNRURRTYRUYUUUYZUNYOTUXYTTTSWVSUXRXZWWYVYTXWWX[]\XUPPSRTUUSXTXTWTVRVXUT^^\UNRVUXXTUUWXUUSPPUUYPPRUUURSTUSSPTWSVYUZZWOPSVWSTVSOLPPPNWRVTVSTXYZXOQOMOQXYVWSMRRUXXRKJQ`bWKMOLOPWSOCMROMCHS[XQQOPUYWcjdZRVVQWUKNPQRNJHMRQJNRUTRQQMSTUWWTRXUSPKCHQSMKJNLHMTLGHRUVQOPRQOMPPFAEGKMPUYV]]er}ul]UORSLKHJGFFIMOMKLJ?CPSTZQHEDOTYXRFKUWTOJE>GVULJSYUQVURTSJEPQOQHGSPMIOPHMQMLPX\ZM/FJAHMNF@M]\YWRBIRXWUTYYTEGQSTWUTSLLSWTSUVVPNQNSXUUTKC;CA<7GW``I7RXXZS[^`YUQGJFObso[QSMUX`pqqppkUW`_OLY][PPSXW_^[hnjYXUY]\VWU^YYWW\[]\__^ZYYYaba^\^[VTSXTVUJTTWZWZSUSSRYXZXXYYUUYX]WTRQLNOPXXYUUXV^ffb\]__[XXYZX]]X\_bdd`\[XRORWU[_\YVYTWUWWPWXYUXVTUXXUTTSTYVYVXTVVWXVSYXUWUVRSYWVSNVYYZYXUTWYPMUUTMKOTVUVYWXXUUNPMMXVWLRYYXVOUYXZVVVXWUVZTQSU[[VSUPPSVVUWUSPWUXVVXWYWXYVVTWY[ZVXVUWUSTVV[YXUVWUVYVXTWZ[WNPTWUWVVWWNVXVTUUULKNMONLLTTVPWZVUKQTZKJORT[_\XTOLJHJRURIS_a\UX\[Z_\XOLLPPMJLUXYYVRSZ\\]gcXV][X[XTRMMQOPLGKJJSXXWSOMOLIOTWVPNVYWPCENMMQSRLGFKMNOKNPMHPQQUY\TGMOFFTURTUVV[kxzq`[ZZWRLHKHEJJAFKLLICAJOSY]^TQMGQRTRQRTTVRLDBFPROS[ZTLIMLORNFEKJKHIRWSQNLHFBDSWXVOILIKNNOPRTQUXZWTORRSOPOVVTQPQPNCANUY[YWVQLFONMKLNNPW[[ZSSTQPOU[effbaa_ekokb^XPSUQKKNUROQRSPPOOVXQJOSWY_[LJMMKDMX^QRPLLNPY[WSQKOPMSUQNIF>DGHLQYYSPTTJHMRSTSRTSNRTPLPQSNHOUXRKNNOPSTOOTROQOKIHJQTQPNHEEKSUVRPR]aZQMKNPNPXURMMLGITWYQNPSLMPTTVUWTXXX\WQJOWZUORNIJPRQNHOPRRV\XNKRWUKFNUTPORWZYWRQNCBBHGFGFCHJKFJSVVTOMPQ[[VMNTW[XTY]YSWXWXYTPPOLRQSSYXTYUPSRW\YPMKABDNWX[S^jhWKMDOW]`ZOSYXREMPNSY^[QPXUPRRIDPYTMOPLIMUTPQWSTQLMNRSQTWVTZ`[TXTOOTVULSRTKNX^^]YOUXWWTVVWUQSVTPLLUVSRONOPDN\[Y[TT[\[aike\^_^hnkdbfeda[RPSSQRUZ[ZYWX[XRPS_`^^\Z\TTac]_`ZZZ\VQKMPWVXSXURFIHFGOTRVTTNPNQXQJOMKFLRZ^UUZ^WUTOMOSZ\YVTMGR[baXXZYWXUSURUYUUUROMUW[ZTUQWSIHGPPNRUVTPMRNNXYXWZSLUVSQOMUZ[\YTUZUORTUMSVSM>KKLUPJKGOPPJ@IPRZ[XRVZXM?L_Y^[L?KOEKa\NUfVWSjv}|l`TMWbebJWLTYSQUUUWXYljaWTV[^bd`ZX\XXXUYWUXXTYVZ[XXTU\XRQTTSX[WUVTYWUZVXPU\^]]XMPRY[[YVRXVQZKUUVYXWVWW\]XY[^^YTTVWVZWU]bkrqg^WWSNOPSV]\TUYYYYZUUXSLPQYVWYXUTONVXYYVXYUTUUQQYVSSYXSQUXYTNOVVUUTTWYVWWVWWONLMVWT[YVXWWUYXVSTQUVXOUTOKMUWXQLOSOSVVPMSUXTXVVVLPWVUVWXVZXXVWXXXVSTXZ]XXZXVYZ[TPOQUVSSRKMUXVVWSTUTRWRSVRTTQPSW[aXRTRQTTRQVQUNNQQQVWVRUZ\[SFKQSQWYVYVTSQQPTTRW\a__^]XZ[]VNQRNIHEGQ\`_WQSW`adhgcca\W[`XPIJJHOODCCBKQWWVMSXTJKX^aXMRSXXPIEHMSWPG>FILNJIKQQOVWX\a^VLOSOMSURSPPOKVcd\QTYZ]][SROPTVJGHKOSMIMVXQPPUUUSHKFCGFBHTVOKKKQSQPTQNJEISVUTLFBBDDNSVSNIHKNIGINONSSSSQPTVTUVVQVWTSSMILRMIQSONPRLFAFOPQTWXVRKDFORPMJIPSZ^a]\WOMKQ]dhg^[TRdrvofbURRROECFIMPUZZVVVWSVLCJUSTUWNMQPKS[[VVMROLLKQXVUROKIFKLFHHGJHJGJJRUUOROIIORSRSZ]\^`^VGLRWTJLQQO@>IPT\_XQOSWXUONMRPSTUTJIJMMPSSSU[`WLE@IVWWXYSOPOQPNKORPMPTXYUTSTQOTSRWSNLKOLLSYYSW\[UNOUVPLVZ_WNRWWRGGKQSNLRVTPPPOJOQLIIHLKCABGOTQTUNLPVY\YQFLSVWTZ_YQKOVUTNNNGEJLORZ[[]]TLRUTPNLOI:IN[]ZX]SOFCEADQ\a_SPUYUSTSKMU[YQPTQJNNE=LVRKQUVPQNSJQV[VRRPKKMSTUQQV]aab_XYXXTOERWRKTYWTOIWZTMLHPSNQX]ZTMRYUORPLSVMIQWRRNUWVVagjcaYX_hihbad`[UMLVWQRXZZ_^VTSXWYY]dcYTSWWURU]YX]_\ZXZYICSXTVZXSVVTOHHHSVWYZXTV\]URUYWWSQXZNH[`_ZWQNOPPSQTVPKEJU\YUZVVPJHHDSZac_ZWONZ]ZYVNNSQINMOLJGOSQPOPTXVSORSRPROTVQV]\]VRZ^YVVVTLOVZWQRMDAAMUVTUXQOKOXOOIS`ZTekmklbTO\]PAW[WLPX]]UKSWmncQTKTfmi]KVMUVQWTTVSX_gc]WUVT\^ZU\b_TSY\VWOXOVWUXTW\a^WXUTUQV_^\XZ]`YXYXUTWYY[WXPTTZY[WYUUYSPURS[WYVWW\_`Y[`]][X]^ZZWW]bissnbXQRSTVTUVXTXXVYZ[ZUTPRUYWV[YXXUXYRXVTWWXXVLOTOPXYXOSRXWYYTYWRVUWVXVUYSRWQUUPPLLRVYUYUWTOU`]VNQUY[WVUXWXQRXUQLUZZWTZUMKQRVUYWUYVUWXRUSXXWVTUZ_XXVTWZ]URVTUTXYUORWSWTWWSRPRPSTVUSWWZWVSRSUTSSW]\XSVVRTULLSTUVLUSJPSPSUYTUNVWSQQQTVYTTZ^]QHNQQT]\b`_\WVTPPNHIVZMBNTTQLJJGPXXPRRIMQNLKJJPLMIMOIJPQQRQONQOE?MMHDJUZZXQMMHEJOQTTTVWUX[UOOPRQSXYRHIHNY^YTMOQSJKMNWZ[SKVelfYLSWZ]`ZNNKMS[Zbnuma\UTVTMIRUOJOOTTUVQMOUVTPTVVRRTTUOKMPPRSXQNOQVURMIHNQRRTXXVXTSWWOKMVVXYXRJGKIIIOQNQWXSKRSMVXWRU[\YOSPMKJIMIIMOUXTSUOLLNOOJMSL;>HJNLG=@FNOPSTRQPSPIGNRPIHW^WADJRZTIEEHRRRQHJSPMKGDGP\_YRPQLJPUYXMJPNNW\UOLQQOFDJOPONQNHPORMKRTMNUTUUQSSPHGJRWTTZ[XTTLLOPMLQUQKRLOQSKPNFIOVZ[YTNSZZXUUMFKEISUOOSRHFDOORLSY`a]WUY]Y_XUNP[WNLSXSMMPXYQKPZVNOOQUWSNLVUKFQVWOTWS[][]`UHIOPSQJLLPTTRQVYZWNUYXTZ`[RLIGHMSRPOQZ\PPQgmomh`X[]\ZXWTNP\bbZWXULNUWQFEJTTQW\aa^]\^ab^^`_WS\`\XV^^\[][U\d`\[]^^`aZNPSVOKKLPWXRQTXVRRQMDMPLPSRNJNU[ZSKPTWTTUVMLOOT\ZTW^^[[XWVW[VVRVVTOSXSPSQQMR]`[ZWX[XQRYVUPONNIJOUY\VMSWQZ^][[\[^WUTNIC=S]\QOPVYVI?IUWWVV[_^SD8@JQJLJEB>>HLSMQebSeb_a\\SNHVR^e_jvuSVVW`bgmaYTTYXWYWXLIOULW[WPLPTW[Z[ZXUVY[^VVUVUVVTSUWVX[YYVTVTSV_\WV^_^XX[YUQLRXTTOSXUPSYWZ_`XZWWYWXYZXWXWXWY[_bcd_XXZ`cdhmnlbUZOQOUVVXUQZXYYXSSSRUZYXWNVUWUTXWSQQNOWXNOJNYWZYYLPSUVWVXYYVVVVXWYUVYXXUQXTUWUQPTVXYUV]_^XVRMUWVTWYNXWXWSSSQUUVWWROSUTSKLRXRUXYXWLSXXVLXOWUQSWUTWQSSRTVUUSTTULJS]bUPRRMUWZUWSPTSOOQNKJRTWUUVTWWWXWSTRRTPSSSTTTUSUTSVY\XW[]\VVWXXTNIJPNJBLW_dgfiopj]VHADOZ]YYVWV[^^[ZYZada\VTSQSUUOMRLJQQLORUPEFJOVJBEKMQQFJORPPUTRLFDBGHMMQPQLJHMKJS[]UTUVYVJOWWZ\VOMPJOVPQUTPRVTNFEU\YRKNQTRU[^ZXVSLB>INNP3JQWUMNNINTRMJLEJRQPNHIFJMOPMHKKIFCDHHKRSLMRSMQWXUSVZUNLPOQSQSUQSQNLNQNMOTZ\TJLLMVXSOFDLQSQQVUROTZbdb^VOQUTTVSMLLRZ`__jpqh_]USTJCQUPMOTX[[SPKJPRQOW]YWUVTMHDKPTU`bZT\OPSWSLLKOOLKOLQWWVSRQVYUQLR[ZPPWLMLONSRJKPRLORUWRUTPOKDHPTTLDECHSQSPQOMONRYXQJDIIEJNLPSLBDBGJMQQRQWXZXTRTQJ@EPLHLQVYURTTNPRPUXVUVSMB@CFMQRJLTVXXSVRQTOITZXOPPPNJIC;FRSOTWQOPPLISUUTY[VTTY]\WRSXXVXZ\TUSONNMMKIJNSPILRMPUNOORQVXWSMKOURPTLFPNFM``^PL\_]XLMTXJWTTUWULEJZZKIW]\MHR[ZWTLGNOMQYZPGLPW[YMCMWZSLMMILKRWYUW[SPRU`aVKJPYYTQV\[YYSSSUTVZYTOGCBFLPQORZ]ZLNV^gkkhc\WRUUQMPPKQRRW__VORSNGKRWXRQZ`_[XX^a`[XZ`]]cddZVUTV\ce^V[XRR[`a^_\OMTYUGDJLRYRORUQQQURKELQUSPQMIVbc\SSOLW[\XQNSOQVRKQW[Z\][WPQNGRZ`ZZVYUMJKKNVac]WRJRSSWUYTOHHJNLKQVXQOPY]aca\XXa_ZY]VWTKIY\Y[``^]VPT\[XVSR\acZXNILPOAHXXQ]e]\UW`Tkrgd_\WA<o[YVahVIUUVYTUZQXXRQTUNUXWX\\b`ZUKX[Z]`]ZUUVVYXYXSUSQPYWXXXWZ`a]WZ\ZYVXUVU_[UQUXVWXWYYWVUWYYUQSVVadaZWYYYZ]\ZWUTNXMYV[Y__Y]_^_[[agf\TSVWVQVQVXRXSV[[TMKMMRVUSRVXZXVXWUTWVQMULLKOTVUXVXWVWYUWVTTWVUOYSX\^XWXWUWXYXVZZVV\]UYWXZYYSSUVTYLNKQVSPQWVUVVUVRSLVUVXTWTUSVWTVSPVWWXSOMMSUY]YUVOXONMSXTQSRWPTUY_XRSTPVTXXXUWVPLPONKOTRRRSRSTNVVVVPTSULURVSTQQSS[\SU\YTWUUWY^a`]WTONOLKLTSUV[ensojfULPGOVUUQPQSVYUQVVZce]YVRTUXWNHOSU[ZSRXWVPQKIMJKMIIQTPOPKMNPOQTLIBHUTSLOJKIMMNMQZ^\XUQQRJKLTUWXWSORXVPPXWNNMIFLNQVVKGIOQQTUSQQTXVIHJHBMNDEHHMXYRFKRTOIFKUXYXWSJJMLMMQOMMKHHJOPUVTSTSMV]`YTXYXURV[ZWTPMORTNKKHJIJQ[ZTQPQIPRG@FGLQTRUZUNNQY^\[]YUPKKPUUKJQXafaX[hjgb]ROVSHHPSOLNRYXZYSOUXUT\caQOPQOKCHRYZ]aXPY\LSWUOHHGEFC?EDMQSIGTWUQH@IXYSVZWMPRPSTLMWZUTUTRRLD?@KGIKMLIHKIJPVQPOQNNQUWYPKGJLPMNPLNOOOKHFLWWQMNTX\]TPKD?EGMNQKLMNU[ZQ@DKRWVOTVQLQNLJNROFLRTSRTRKFFEMPKGLPKHKQNBFMNNUXXUQPNKNQPQRQSWTRXWTPJNTSW]XQKNSV]WSTMPVZ\SQSFJPRICIRQLJPH9DPTTOOMQUOKUfe`UIgeZOU[]UMNSTY][TOZYZVW]XQLNU^[SINQTPSWVRIHMQVXSNQU[VKAAFPXWVQOLEHMPW`[VMQWXURPUUUSQPPOSROQJJLJGEHGLSUWZ[WQSX_gnib_^\YSKKOOLINMPUY[YZZ[SKPX\a`YX]_WTYXW[^\[`dfbb][Y^[XV\aa_ZYUMNX\cc`ZONSRECJLNPVWSUWYYXUIHNR[YOLNHN\_\[ZV[]^[TNPTRSTPOXXSPUVXPKKLKR[[\ROEISUOJMX_ca]XMMPRTXVWOLJNUVNKUTPJMWWY\a]SSZWMRWQTQJAJT]`a`SLV[X[`WZ_]_`a__RFRNX]_c_WbdYRYYOBZidNRLG90CISUnrcMVZKWVibUTUOXaZOWX\OS]^WVNQ^a_`a_^XYZ`_]ZVXTWUXVPXTQRXYWWWX[VKQU[Z[[[ZWUXVXWZUXUTWX\_^\TXW]b`[WYUUXXZWTQXXTWWXYMQW]ca]\WVWZZZWYYQOYQPUUXYSUUVRUVPYRVWVZZYYWYUVUXYOYQSVUVTUYVVXYUUXYYYSQYWVOLQVY[WVTRWXYVWU[ZVUZZTQRUVWVUPXXQLTSNRQOORWYUWXUURMQMWTYUWUSTXUUVVTXUUYURJRPZbb\XTQRSSKPSULPWUXVTOTUSVTVWUVWPQSTVRSRQLLJPSQKNQRPSSPUVSRJKQUURKHINOVQSRZZRPOJKQV\_ZUWWQCLNQWSLNW^eklp}sbVSNV[XUTWRUWVYXOQX\\UJOSQNNLLUXPPOIKWZ^`^SHMJLQMJMSSMIDERWVYYSOMKRTIHQPJHJUYUORTSQMLOQOMOOGOUVTLMTWQMORJEGORTWSTVWRSRRMRTKILPRNFEKF?JPHGEEHSVVQSTTPJDNRQUVTNNONFEQULKQPMPWYSEEMUXXTMTSPOYYUNJKT[^]XURUQOQPKDGEDSWSPWUUVRLDFJJQQMOWVTWUSTSW\VPQJGJORKLUR_kk_Wab`ff[VYUQPVYWNKOSSRZZXSPVZbfeYOMIIHIOUWTOQPNMRSOUUPRN@BIMTWTQTNGHNMJSUSTTTQZ^`_VQOOOKOUXWRRRPUQECHNOMPXVWTLHLTYOGLRNHOUXXWUUSVZUVSNMNPTVOCDPZVOOW[XTSSTSQGELMKHECIQXZZTGBGTVSSUOMRRROLNOKHHBEMSXQICILMPPLKCCOUTJHLQSWXSLISTSRONQOHOXWPJSSOLPOU[\OGG?MUVYXUTOOPMUWZUUVOQCADLQPUXUI>DHFMPQQQMKOPUWVSNSWYQKNNOOQVYVUVXTINLMSVWVVUQKQONMNSNKOQKHRWSJOUORVWYYUSNSSUKFGCE=:DNUTUPKOSONMONQSQQROJLLJLJCKLUNGQSUXSIPSMJMQVKS_bSRYZV_bT?KV\_aZXXXXWRMV]\WPQSUSQIDGSY`]YQKMQSTMHKNOOKIJRYXTTPJCHEJEMVUPMICGSSJLUWUPJDQSNPPOQRTZ[YRST`fb`ZVNOMPU\WMQRVZaa_b^TIIHNRSWZRMX_dhic[[_b`]YVSXXVX^a_ZRPRST\ba`^\[`cbadeb`_^^YRQUZYQKOKSWUGIQUVSSX][TRQNMNNW[ZUNT\_]\YWRMOPTSQLNPZYVVX[\WNKRW[_]\WRUUUOVW\XSVWRSXXTMOTRNOSSTUWVUYVNOUYWQMRXVRFYa]\ZMJOTNTRMKE;QWSEHKHZ_W^cd\<1UMP?O^ce]_ij[JD`a[T^e`^PHWUUZdd[UVOXTUWYb[Y^ZUV`^\\^_\VWOOPQW[]]_ZXYXYWWVWOW`\Ya`\ZYWTUVQXPOWUY[ZWTVXXYYVVYWVVW\a`]YWVVYWWUSMRTQUYUVUX_a_[XLPOQVTPWVYUZWWVY][YXUWSOOYTWWRWXTSRTWXYVXUVTTYXRPLNVYZZUURXUYWWXWVWVXYXYUXWWUUURNUWRTRMOVUQSWVVVX[ZTTYVXYTPOTVVXYXX[XTRRQWWPSVWOUTWUWXOQOV]__ULWXXVWXVXPMTTUVTTMVRVSTPRKLTUSQKUVUWXZZSQSUUVVVWTQRQQNVVUSRPMQUUVUQQSTTVSVTRVWYRKOKJFIFGFKTRUQNRSNEKWYW\^foush``_YRLQQTZac\NEJUUSYVRRMOQNLMRVSQSTQJJTXYVPNSVSQSNOKHIMLQVTNJLQMKJEKUYUKMKFMSPJD@EONRRTUTLJLLQUSONV]XTMUVNORQLOXTIFIQRSUOKONKGJNUUUQDAGOQ=FLRTOMOJNZ_^ZTRTURNMORXYXVXSSOHDAHLLMQJFNQSPKIRONMPNRTSSTVUOJQYUQJQY^`ba`WRPROQTTSHOVRQVUX_`c`\OHUVPQZ[VOSUYWNKRTYdebYUYZ\[a_[VPOUWPRY^]_\XMQ[ULQX\XQ@BHLLLKKIHQXYVRLQUUSVPLOOLLLJLPLHJSWYQSOJLPRVZYRQSWMHLNMEGRZWPJPRRUSONIJOMLLLNLMOPQPSTSKFGOK>2AJRVTMAALMJHKRVUSQLQW[ZXSNGACBBKJMUZYSG@>DHKMQPGJNLPTWYWYVQIFJINGHPSRWZ\XVUSOQVVSVTRJKOLHNSSJOQQILUUPLMOMNLTZ\`aZRV[RNMLKLSRUSSMIEBBN[]XNKOUTVSNQKLKRNNPLPUXRO?GMKFJ[NZZWXQOPVLHR[UOOQXWXPUTUSPJEJNNQPUZYROGKJLSYZYWSQOPMHFEKNMJLHJVXY^ZQJDGJJLTWTNKMILJFCKQPPLOWPKJLZ\ZXXY[WZW\^ba]WTSOPW]YSTURSXWXVSMOLKKLMY[VRY\_df`\X]_`_ZQSW[VVVZXMHPSOQV]ffbYTRY]`bb\X^a]ZVSWZ[YSSOV_^TIQY\YOQSUPJRRQNOOOQOMIMUPNNRPSRXUKLSTUXYXMLOTPJIT\YWSNLKSVRPFLQUQMNSWUQTWTNNPUW]_b`[VX\YWZZ[SPV]`[WSX[^TMP\^XPJPWQEBOPNTPMQVMVki]WQd]LN7C]feZ[igSAGWOdjfbehcUNWUP^XVUXXXWO\]TVUcmb\abVTY^^YUVUSSYWYY\YZ]a[XOPXWZ^\^bbZ\_`aZTVNXUWWX_`WYWXUVSVUYVWQRYZ\_]XUYUVZWZWYVWVUSOSVVXVV]YXVYUVVYXUWXWXXZTXXZVVUWSUUUXVUTOOMNRRTVXVRTVWTSOWNTUXWRRVYUVSTXXUVXUXTOQVVUV^ZQTTSQRQRQNXQTVTUYWTWUY\XYTQOSYXXVYUWYVVUWSSKKPSTUYWXVSSSNPTWTXXUVXUWTVTUPUYUVSOPJKKLINOKJJNVQKVTMPSTYTRVSY[UPRQSTUSSSTRLNQMTSSSUTTQWUQRUWVW[\UUUPMQTVUMJNSZ[PSQOMRSVPRTR]df\ZYWYXXTQLGGNNOOLLKSUMGHGOOLLGGIKSUVRMGNS\a^QJQRRPQVQJQWVQRSSPPSNJFEHLUWSSMIKJEGMJIPRWUTSPUVTQQPD=GUXTQMQSQU\UJPUUNINPUVWSJCGHKKRYVUUPHOPNMRPG;DMY\ZWXVOGMUWLGPW]_ZRDEL[daWUSOU^]SUZ\YTUTTKGMLLNMLMNPSSTVSROINY]]YQTPVYRX`_[XMLJKPY^^ZXQTTOS^cdYJ?GTWTS[[PRUQK7PT]`\NLQOJ;\_L0NWKIXigVV[I\e[_ecPSY_XZYSbffb__\X`dcb__`_XQSTWVWa]VTWSMYXTTVTTNQVZZYVXWWVWU_]YTZXUW\ZUXWWUUU]ZVZ\XVZ[Z][[\\YWVZ^XWY[`\ZZ[\YXVV][XVV[V[ZYXWRTYWVXUWOOSW[VYVOYOTXVUUUVVRTVXWUUWTUZ`]VYXXYXVWYUYXVWVY\]UTTUUSSQRXVXTUWWXUVURRSSNRTPMLRUZUVTWSSVXYXVRNLMRVVVRPOUVUSQPQSOUVVNTVWTVRTVVWRX[aZTQWVRRQRPTSTWUMPRVUSVZXQRVWSUWUTSNROVVVUSOMQSQQRVSWVNPSUSVOTZ__TWSRRIHPUSQTLOTTTQOY[VPRPRVWWUQLNQVZ\YWUZPOIRVX\YQY^ZJNQTSMOQSTMMTWSVWWNAGTTMJOSQQRTRNLILQLAGPTTWQPVVUWZYTNLKOMPNS[ZSPOONPUPPWYRD@MOSOGJNG@LTPNLORYRJNONOPJNROJDCJVZTSSQMNPIGFFJYa]MA?IGJTRPQNKFHIMIJLRVPKMTYZWSSRNORPOLOIFJRYVNJMOMEJKMRU[aa\UW^^`]WPNMMHLQTRE=CFACJTRPQQSVSUSKMVTTQJJORWZVSSZa\QSWSVYVOLAFNPQRONRUSVSPSVZXWWTPNMNSWY\[TIHPPOPCJLPSSNGHHDAMUXTOFBHHLE;CGIFKNPMSY[_efbUPJLQTQRZZPLSTNPOLLIKJPNIENVUMMUYUPQTMILNQVVVWSKNLKNIKMOORNLLPNKMTPMMPLGGERVQKPSXZXRNMLRTNJLLKOPPMSUPFKOUXUONRWUTVQKRRWZYRTVSFFPKHIJIPSUNPTWRJC=ENOIKLUSRQX^XJJNSSURMNPOMPUZ\]YKKTRRPQW]_\VFD@JNRQVXOGOUW][XeFXYQRQY_b]]\QKKLNS[WPNWVTUNFHLRXXYVRSX[UTPJLRVYXSOPVVWVMEHDKUSOOONOPQWTNMIRSPKGFGLNUROQQUQLPX^`bghhZQHI=FSVUSTTRW`\^]abZY[Z\[Y\]XYab\[XVW[``^RQ]baVSSSRXU[]ZY]]`THLSVX]`\[XVVTVSUXZPPWWVYVNNRSUPRUXXSPUVOHNSRTX\WLLLJAGV]\VPLIP[a[QMQQPVZZOFMU\[[UIFMW`^VSWUTUXWUPRUTTVPNMVYV`^\YUQJHGPSOJRVYZ[XRPV[]VTZ[TOWXSMDIS`_XX[UELTUVUQPQSYSMQJRTVSDJbYUfge[[WLFOSNKKIFHLOMGILNPOMLLLNOPUZWPQPOOOLKRUNGFMRQQUURUYSSXWQGKOSVWSSXWQQOOKGIMSSPTXSKD53BOPNKJMSMIHHHJMMIFJKX`[JBGKRXVMHIJDHOUQQQSQRQWXTVUMDLSPHNVUMHFDGFKSRQOOLLHHLNMMNQNJR\`^][TMNPRPQRQHDMNI;DTWW]\YQONJFGNW[YQMNVZ]USQZc_VNNPXXYUPJGNX\[WOEPY[\UOQZZVVRSPNMPWTSQSPNIKLLIJCGPX[XMJILPSVROOKMMMMNFEB>EIOKA>JSY__WSSNFDNJGOQOMLIMRMMRWRNTZTJJQSQNQLOOTSQLONILPMNNJJIEIOLQNKKGNTTQOSVRHQWWOJILWXYSTTPWVPJEMVTNMIMRTPSVTOPSSWZZPORWYVPKQWQLZ]\[[VONVWQOLDKPTUX__\TJELWUUW\^TQRV\UDDLJELORVXQNOSSMVZPGLLHKFPWVTO@>CFTTX\XRLXQFIQ`jmf\QTSYZSIQKNXYXVPQSLLO[\TJMQX[PFJMQTTX[[QSQRQTTOKPTXVNJIE?ILJMOKJLOPRUSOPPLGG@@JPSRKDKQVVZ`]NXbnsqbTMPV[`\UVYUQSWTZabYPXb_YSUYUXeke]X[[XY[YVQY_ZTKKNXZWRMUSYdd_YWPQSZ^]][X[X^]ZUQJGPPTYZVOIOOPWTJFOUXXTPPVXQORUTQRPJGEPWTRTUPRWTNNJMGMYXSLLW[[TQHIKPW[XY\]VXYTMINSUWWVPNPT\__USSRHC6Ra\UNZXSPMPSU^ZWOQXVR\^[URJGQWRY]YTOQMJQWUXW^VORV_XVRX]d`[eja[WWEA_cMS[aWTG9`\@ hdk…Š~^QVQikcYTTVSTSY\adZW_]bmmeYWVTVNYc]]]]XPTRWZ]\[[]][[\YYZWVVYUVTSTVSWSSTQTX\[UXUSYZ[XXLUWWUUXZ[[UWU\]VXVYZ[USQV[\\Y]ZX\__ZXWXXYUTZZXYXTRSTXVYZTSSVYYTSMYRYXUUPXQYRUYTSVUWZZUWZZ[\YPNLOUWURROSTUUXUSTSVTXXVVUSVWUXUSZ_^XWYURXKLYYQTVUVWXY[ULRUORRUUXVTMLUUWWWVSWTPQUZWOLWVWWXXRSSMNQWVQSUSPJIVUUXWZZROSXWVUVUXULOTTWVSPSTSTV^]TJKSTSLIOVWWWRTOMWSTQPNOTV[XYW[ZUQNMKJINTW]]XRTSV\YXXVQNQOJGKLRPNQTV\da\PTZaa]WSSQKJJUWUHAJPNKRSQNPLEGMRPONPSOJGFIIQRMJHIADQORZ\TFCGMORRNKMUWSWWROPQOSSSX[TOMSUOLNJFLKX]XJC73EMMOUSNSRTVXUSPPRRQHFHNKIMPWUPPNPRPQURSMS\^^[UNMTWYXXZXW\ZXSLPPGJLSYYWXYURTVSTXSRRQQWZWTYVGHOUVW[WTX\VQUUQMMRSTX^ZUOQSUSMNW[YUWXUSMLPRPRTRUUSUURURSPKCFKMPSRSSMJFAGMY]^ZWSTOORRUSZ^ZTTOU^Z^aa_STXWX`^OPXQOV[RHKPVWQEBKKNPQVXXWTEDNTSQLMTVQPSRLFLKKLNNOPPQNSPLJHGDEHMQVTQOTWURZ^[TR\clmg]QMOV^`ZSVVTNMQTY]WPW\ZWYYZW]iidZUTWVSRRRMOVTRTQW\][YXYVT[]^^]XPNOUTTX``_YVRYUMLOQQWZXTQTSUUTRQTSSVXQKSSSWUQMMORTWTNRTJMQKJMJNSJCHOSQPJMTYZWRMLLMWZWTTSWY[TPSY[YWURNMKDQUKMOXVXZOGV[X[\YSPRVSRWYZXS[]RMSTMMINMSSQSRLHKSV\WYY\\WW`gg`UZ__][JWZ[[UROPSQPZYWTNDMPKHILKFMQTUQNSWWQUPQX^^]XWWPR]]XSNLEKONORROQNQRMGORXWTOLQWVQRVQPQLHJJF:DIONJJPOPMLJJJMONMUXQIPOEAFHFCGHKFLRUYYWUOKIILSURVYYTQPJLLEJLICHNQMMQQOPJDQTYXUTTUSPQOJ@EILURMV]WMHJQIEMTRSWUNFJLHLQJJNZ[XTHGHRX\\KGLKJLTTPUUSOLPTMINSTVWXVPJKPZ\]YWSROPOLLOPKIQSXXSKNZZOKJHI?@LNELSSLLOPPNQYZZ[[VH7>JVNT^[ICQZ\OQ]X_SAOTSQ\[ORQ[\ZSUWNHLONKIDKSTTVSFKRZ[UQZURYZXWNLQRKKQXYYN>BIPLJJKQNHFRX\\ZUORQOONNNPQMOY_hh^VTUMOXWOIMUSW\_aZONRWSQUXY[VZYRSPQV[\]cbYQVUMNTSSXWUQTWWZ\[WOMMOTX\ZXXVRPMGHKGJRNNOOKMKFNY[SQPQUWQOSPMUZXRLPRSRLMMGMSNFFBEGMOOSSKFIPWUU[a^SHRZ\XYWRJORSRQZ`\WYYUUKFBISZab_Z_^`aTOW_^^ZTYZQKMTUSONQXXYVXUXZMDFLSWWQOHMV\[OOQQYTNLRNIKKTQLNJB=VTT\XP;6MebMW`U43IGgjgSNKWMWQKOTQU[[SRQNV]^YUMJNUWQRUNVZ\_[WUY_XZYYWZ_\XYTYVWa_TRU^`ZTXUVWYXW[_[XRRTSRY]^XVXXWXW^ZXUTXWZ[[ZVVRUTWZ[UW]][XTV\]\UOZTY]]ZVYWQUMQZ__XU^]WXWURSYVUVXTUVTYUSQQVUUYVVW`aa\YVXWVUUTWSUZ]ZYXUUQVVYWXXYXZVPQTSSSSTSTTXVVRKXOYXWYPQUYWWVVPUYZWTVVVUXRNOOOQVQQUTTXNLRSWVUTVWWSSVW[[WXTTSRPXXWWSTPKUUWUUVPQPSUTVTVXVUXVTWVQUU_]``]SQTWWWSRPNLRLSHTVVRRUUTVUXZWY\[XTPPUWY\__\[VORTSPTRT^b`YVW[\[VMJGFGHR[VWY[X]dcXOLWTSTRRPNTX^`YSUWVVSJFSXUPJMPJGMUUUTOPQNMNNOSONONQSIEKNQPHHLJEHMNPMJQPKW\\UWYXYUSPNQLDNSQMPNHCFKPUPOONLLFD@BMRV^]RSUWNGLQROQOERRMILOTPNMJLUWNKRSNKTZRGEEJNGCB@DLUXXXQLJPTSTSPS[WNRUUVUJKT[]YSSQVRQRUUW[YVOGCOVXMCKVYYRRSKHHMVSKNPMJRRJNMNQMOUSOORQOTTYXTSX\Z\\ZZ\[XVWRHLONNMHPNQX^[TM[`[VMHPQNHLNJ>LPOIHLIMNGEJJLMPOHIMQNNNJNOKEEFLVWXSQQUUXVQV\ZSRTTTNPLOKMSSRPOMMNFKTSOHFBGLRXYYTNNQRVYYY^_[XLFFLMNMMMQZ\TOPSOEOPNRXXSQRN@INSKW_c`^UGERXYZVQM>LSWXTNLLOUUNTSOQNOTTQNMRVNNURLUVWQGEILMJN]^YRLPPOPPSNKDA@>?GJLPUW[ZYROONPOXXVZYRPVYVV^\SMLPPNNTYXPQWUPJPV]ZLFUSQLHMQOMV]XTXRRPPUUXUUVZWTU]\YZXTSUWTQLQV[WRRRQJHKOUYWTPNGPYTJQVPQRSOUQP[_ZRQPONKJJNPJKMKKJKPNLLKIHKMHKNMRXWIJLNLQTTNHOUOJNW]VLWZYWWPLMMPV__XQMQSPNQW\XVWYZQQUXQEEENQSMT\`a_VUSTSUUTPPSMU_]Z[Y]^WMH@=BQMCDIMMLPPMHLLNQVOCGNPLIHJJIHMQOMMLQLLFFMPJEJLOSXWVWUTWZ[XQTU]_^WPNOMTWPMJQUUQNJKSVVTUOLLKHQYYWPLMNOMPRY]`^TLJKNMKSSNUTTVUSLMROKILTYWVPNLORV[][`ZQDCCLVZUXUNQQV\bb]TTPUYQSZWPNQSQOQRVTUPRTSQRVV[`a[^YTRRWYULOXZVZ[TJU[^[YSQRSW[XOSXS`ihdZTZXQUTQLNPLCQ^heRP?@QWKEWYRJD:CGNTTOTSORSQRTOLPPQMKIJNPNLQLBBCCFKGBJRNMVZ\ZUPHILQRKF97?<=CDHIORYXYRMGJIKSQMPNOVZ`a[XUMJLQVVVSWTNLTUPSX[`[VQTQONMTWXSRYXVRQMPV[`^XUYZUOPQPRYYUXYOJBAITY^^`]SSQLU\^\YTMKMROFMUUUY[YZWTTXVUQHGMOKRUVQPPUVTQYWVQKLLKKEFHOW[ZTSXSRVUQSQTSPQRXXOJT[XWWUOPRQKOPKGHCDLPSRXW[_\XSOW[YQKCKUVQVche^XSSSRSOMMXYRQ[XTYZ_ZTQVY\U]VJJ+CXT:@0@HBAEKOJOQXZ[PMLNNMMRSRRXaeeZPPHIOVVQUX[VTZVQNPSX[^^\\YVXZ_[VTTUTMJHIOX[]\SRZYRKMPQSZ]]VYPLMLPSSUY][WTSWYWWYZPPLKJKNSUUY_``]ZXQJILOQQSSMNUVSVWY\VTTXYVV\]URNFLNWWUUVVSV\\]add\VYWPPJKTXYW^]SPMOKRUPV\ULJOQ[Z[\\PGKRUZ[\VMQ^^XV\a`^[VRKQVULEKUWZ][SW^c_QEQddki`P@0KZ[VESTdf`\MWVYcgUV[^UP>U^fcjk]X>+UUJTNR^dUTXXOXTSXWVTOOVbcXQPTPX]^[WQPXSQMTWZ]^][\[UXYXWSXYY[`\Z][UWUXVXVYUXWWWUU[UMQXZYZ^a__YWXXWXPU[b^^[[ZY[WW]heZVT[]XYUXVXYXZVYZXUUW[ZYUXYUNNTXTOKTYVX[\[YU]a^XNPSVUWUXV[]YVTUYYYUPXQVWXXVXYUVTYLRYXYUXQQXWYXVVUUVUVRQVW[VWRMPVUUKWMSROORVSPQWWXUYVWXWUUUURTSRQUTWSUZ\WMKMLJOVWVTRVXWUUXSSVXTONPONSVRSSSWSVWUMLKOUQKKRVTWU[WWST[VSWSPOKKRURPUVTTSRUTUVRWNRSUTTRSVOJOSPRRVVRSSTZXPWUNQQRVSSWW\ZROTXYXRKKFIRWWYXY\\RU\ZONHOYZYVXWSLKNLOMNLKSSQRUTRVZQONKE@JQPIHLKMPPNGDIOLMOKPVZYVRNLKMMNPRKQWXTNJFQTRKLRYXQHJPOGRWQQRNLHFKDDNW[YPPOQQMLOSTQMIIFKEAJPNMGLQSSSTNKTVYSIGRTPMKEGLPSQSUTORUORPSMPSSUTURSSKENROKHJLQUZYY^bfhaVQ[`aZSPW[YY`]WPS[^[YZ^XQPRNKVXSNJNSWUNKPMMQQRQUYZVMPSTUTSTWPOJJMQTRNMOLIHPUQNNQQNNMMNHGKPTVTJLORTOJPVUSJDGSQQMMMOPHFKNMORIINT[]NJQWXVVTUURRSTQNPSQRQNKIHKRTSNKGMMILSTLLOSRPNJKQLLPMEHLNLOPPNGEENVUVTYZRQOJD>@KWXVVYXWRQRUSTQUL?PXXVRPNNQUUYXYYYSQRUSRSNEFJILMNKNSTUOGIJKTWWZY]VRNVZURVRNKPRQLIIKNPOMQQSTNKMNTVRNOSROQRPRUMRGONSUTOMRTUYLVMPTWTTTUXRPUZOGRZ[VSU[XX]]YZ_a]VZ[TGJJKKJKTZYW]ZXSOLIJRNJQRLEAINNMNRWZYZ^ZXTSSNNPQOKOWZcb_]VNJSVUZc^RSUXUPQQQTVWW[Z[URYZXPMT^[PHMSZ]]\YPOUVQUUXQLSYVVQPPTQTPOOPTUTRTXWRUZWRRWURRX^WMOZ^[ZYXUROILMMTTKJPMJPPXTRLNSXUV\ZQOKJUWSOJMOPJPY[_dhf`UWOKPPOKLMS[\ZYXRPV\^\_WJJJT\_Z]\VNOTWROOOKS[WMMLS``]ROPMJKQVMPVZdf^XX_[TZVVYYba\YNAU]YX_c`afdbWU-`kbRIE]W7+-TrvsZ-V^UUIINNPKRc]SUUWYZ[[SJPTYZVU[]ZYXNPSWWMLPUXPWUVXYYWWYUZXVTXX]_`^VXYSRWUTW\ZXXTPPY\WSWXUUSXUW[]^\]WZZZ^__]bfd[WU\ficWTU^`][XZW[]ZZVWYXZZ[\WSLXYMVWYYVRQUUY[XTUU[a\WQQOPYVYYW[[XZWYPUTWUTXWVVVTRTWVVWVQRXYSRQNOOMRPSTQRVZVWVWUVUXUNUUOTVUTXWVYWYWUUPLRPWWWYXTTSJNSWUVTTXRUZUTOSUXWXXVTRPUTT\ZWVVWOJMQNJMOQVXSTPTXWVTVOOQOIHQRQPPLPTTVRUTQUTPQQQTUSWTVSOKTTQKVUTYYWY`^VAAJOOTSW[^[XUNMQQRNOPQMO\][XSMV[XRFEFAAOXPSVZ[ZRP[\TONLPWQLMQLCCFIOQSNLUVPUUQPXYWLLNHFEGGKMLHGFLORVSPNPPKHNSRONPTSJGIPUQSYWUZVTPJIPSOPWTLFIIKVYRQUWRMKRTRSW\^TMPOMLPPONQSTRMLG8:JLJHGGEBLORRSRPSQMOVURNOMJINUWYROPURPRRPQSRQPQPTTNINQGEJRTRSVX[_cdbXSVWTLKT[\YKQYXSMPY`eb`a\QMRPOSVSOPQORPMPOOTVUTVWZTIEIUVWYXUWSLPMHKQUPIJIGIOPMMNPPHGEQVWGIPUYVPNNJNMLOQSSKFIOPLLJEHPQKECGPPKIORW[UTVXWRRLKX[UKMQPRPJFKOKQPJKUUUOLHEEKSTUROKNQPLQWWTTKIILMGJNPQMKJNOQOPRQMJLMHFKRYUIFPMNMOQSYZSQTOSZZTMKIKPONKJNSVWTTRNOOKGHJLPPUSQMFMOMKPUUSVXUVYVPOKIPMLPSVSPOSOLJNKMOLGJSLFKPTXWRRHKPYZQQYWYWZWYLJMGQTPYa_\cUVWVWTPEGWXVWYUKIY`a^X[[SS^`ZW\UMOWYRIIX^]YW[[XOROVWVNMHEEFANURRRTVTWWUTUSUSUWTOLKQTV]ejeYUQSWfon\T\[VUSUTWO@MRVTRNRWVUKPSXQRU]``]\YXVUTX_[WUPHHMEMSVZ^\SLKLQY]WORRPU[ZTU^]ZTX[WSJNUWUVVSVTNMMILVSRRSRPOEFNU[XWSTVQPQPOVXRNNMNOOSVTX__\OMMEDMQNMJIIPUSVWVRKT[^\YTNPNRZVJOOPUYVRPMOSVTMMPJWbe[SLOPNLVXNFKW`b[U\_ZIOX^]YW\XSTOPdi^XaYY][SXRBPdf]VDUaWG2,*]pr\IC`jLMULQXWLV\IUahWTUSXOUVJXLPVbff\SUSVOOOX\YVWWVYUWYW`a\ZVQSTYY^YTSQLSXWVT[__[YXZa`\UWXXUUWWU[b_YWVYZ[ZXXWYWZZWZW]a^WW[bc\YQOTW[WTOVY^^[X\ZXQRYQTXW[]YVSUXTXWSSVYVMOVYVVWVPUZXZ]YWSQQSSSTTQNNKMVVYSXYVWYYSTRSWYVUXXTSYQTSTVSXYX]YSQSMSWROWZZZYVLUPNLRXX\VXWXVXXUSVWXUWTLOVVWXJUWXVTWQYOWVW`_WUXVPRXXSTSRUVTOLLUZ]XRVRMLLNQUVTWOXSVTXXSURNUWTTNU\ZTUPUQUQUTRMQTXLMZ_^YOGMOQRRNV[Y[[UTZZZTNJKJNVYVUSPRZXNIGKMJOVVTVVRRSUZ\VNPOPJJPTQKHGCBKQSPONMNZZURNOIIPVYPKLNSQPLILLMT\[SUSOMIQRICOWZYPGCGLKLOONTXWXPKOWTOLJI>CHJRVQOMOTTNSSPTUVYPAGOSQOOMPTXWVPLJE:BKGEHNH@>NXWVMLJOKEOTQNPQRHLV][RGPUPPMLKRYZYUNTUWUSSROJIJMJHMSZ^`ZVOS\^WNPX_]SKNW\YNHS_e`UUNKPOKAFMOLLMJGOURNNQSRMQPRQRKHQPY_[ZUOMUVQLNPLJILJKHHLNKNSNBDNWYTONVYSPPOMCDLPRRROJGIIGMRNIJMLIIJHJDLRPNNRRSRQPMHJQURLILORSQMPMMTTKKTXYVNLKQMNLTWTNOVVXY[Z\VQOPQKIPNRQUWULKLNLOMKJPPIIPSPPIOQNKQTVTWWMKSRTYTMLNNOUQROIEHJLOPKEKNQOIFORVUYTPOLRPOTWQOQPNQUUSPJGVSEFQWSKKPSSTUVPJLIOPGJTWT[YWSSPTXOILTVV[_^VUVVUBDB@3POG>?DYWUXNKMMQQMFLMRW]_\PRYXU\aTYZWUNQVTPBK\`[WY\XVRTTQSTRIEHGEPWXTSUVTXX\`YQQKOQOTZ[ZUWU`d^UTXQOVhiaXZ\YVUVYYTOTTOMMPQPTYWMHPUWXX\WVUSPVTUX^]YUUQIJPTZYX\]ZSSNP[`\NIMLLW\\ZX^]WWRMMOPOU[\YUVXXWTSSSRPQUX[VQUURQW]dd`VRTNNPOMLNNYZWUNLMQWTJTZPTPJGFFHQUWROLRXYYYSWZYYXVT[\TSRTSRNIKLOVZPKOWTS`YRIGOX\VUQGDBKYXQS[[UMMIDVSW^[QUWY]]\TYTJ_dQHQG;NbnmnWUXE. LZWF1Vc`JKZlqlRLLIPWXYUZ_XT[a_UQTXafa_TTTWMUSW\]SXXX[YVUYZaXXWYWVUTUTUUYVMVVUW^^Z[\[Z^_YUYYWYVYXYWYWUTVXY[VYYYWXWZ\[Z[YX[]Z^_YPMQPZZXVSVZX[]\WZRVWVROPUTVYYWWRYX[XSYVVWVYWYSORPQYWWZXULKMQXYTPRTSKRUWWRORT\ZYUYYVYXUWVWVVOOTTYQSXXWXWRVVXPSTMLORXXWQNQWYUVXY]XWWVWYUPRVWPMRSSUXVXSPQXVXTUY^a[WZYZZWSUWUZ^USWWVTVPRRVWOUXTRPRXSSVVVRQXXTQROPRTVQSTUVX[WQSRRTQSTVMTZXVPSZ[UUVMQUSUUKELV__YVX^\TIGLROPX^ZSPOUZXSQQRQKJIKLKJLPSUPLGHPOHHQWRHHPKCEHRVUROWXSRRMIGJSUUOFLRRPOQQSRNNPMJMRQGKONELZ\][SPNPMF@FKMPSSTMPTTQMJFCCEHIIJLIGJNOOK?@KINUUJ@JOQGCQMUXXWVRRNONPMHJKEADPVUQVVHADLQXXPPX]XPUZ\TQ\XWTUVOMT\]^VSVVTPNNQMFHNLJKORQSTTOPRUZ^`ed^XUTWa^MFLI>JIR[YPSLOILWWSW^]SR_]SIJNX]RLQJOTSW^]N`qiJKJM_dei^RC@N@6LSSOQTXUOLGKKRQNJHGKMNKKIPOODACFIHKNJMKIGNUVTUQSTRPKIPQTOPMFNX]YPLIIGJLNLIEKIFLRNIG@HNKHQTUSW\\TLJRTXSQQIFPRRJCJPK@BIJMIKVXNBDJIIOLIUYVNKSPN`jj`YTTYVXZZXVPURPNMHEHORSQLQTQHJSROPRUZW[\Z\]a[SUWWX_`UO[`VTWXQMLMQPPSRKMMUTVSPKLRX[[XTTUTRKOUUNRQRPLTUQNX[YUPTZWPGIGKNXUPTSLLJOSUTNNPMJOQNLKJWZWTROLFNONMRVTMNQSRMPTSTZ[UVSPSSSRSWUWWW[VOFHKRLHIFHJNH@LWPNORQSRTWWX^ZOMPRMIMMFIPTTQJLOQKILUTLP[\YXWTRWTPJMLFDGNWXWQRSOFGGNOECJRVQHGOPQOV[WQOOOQRPUSSZ`^[ZVVQPSUXUKRUK?NUTVVXWQNT\\ZXURPOLQXWYSW^[ZWWY^]\TQIGMNQXXRHTVMNTSIOQJ9RV^VVUGJUYPUX`db\TTPRRNLOVVX]]]XWXVPGLUWSLQVVTTRPQNPOPG@DOTROORXMJRPOUWTROMICJQOMPSX_cbZWRNMPVSMSSZ]bc`YSOPV\ZTPPLRVVPPOSW[_\XTNN[\UIMUTVZ^VSUWUOKLRSPQOKSXXSLSX[TQRSUVY[ZZTPIJSVVTV[ROTUZRKRZYSFELBDLPSNLSQQLJNZ``WSRRQQTWYTMSWTTTKAFOSYWPSXQCJZ_^D0HQSX_\[`_WNIRSOPSNKLUWWTWVSLJHJNJHKNSRNUXZXTTSMHDENMIADSYRHQUVZWROPKGKQUTWYWZ^[SOUWRQUVQNMHFJPVVWXNJQXWPQRORPOUXZSPPUURVRKSUQKINTY`]SRUYUVTLRVSVQMLVVSQTUUSTUPIMOU\[XUMBJRTTZZYQORSOHQXVIBEINLINVYNMROMMMOXY[UMMJHQRVSU]aZVWTMNUWUSRPVYYTSKORRTVZXNHNQPQQORWWTTQQUYTVZVQIFMQQSPKM]aba[WOJHOTWXYRMAJRIOKJERNTX]a^SGKVVT^_bb]f\QYTLOKA7BG-IVeiOGXGPVS\be]@O>Pd\upOTZQMIf`XWh_XT`a^XMT^ggb^Z[cb[ZWSZce`X[__[VW[Y\__UWUUXUOTV]a`VX^[^VT]`VVTVYVY]^^[\YWUYZYYTNRW[]`]VOSVUV_^W`ebZWYVYYYYV]fc^^^XVUWYYWUZZ\[XX\YWMQVWY[YVYVVXTTWXVTXWWVUOLMSWUWSWTVXVXVYOXUZWWVZVSTZ[YVTWVVXY[VWVUWVTVWVTWWRNWUWLWYTTTWRQUUTPOLLMPWb`VWWYMPTXVXTUUYYUVXXVTVVRJMQRTWTXXTVYWW_]XUVQIKKLINKTWMMWRWTX[XNSVUWUTWTTVVVTTVZWTMTXZRVPJSZYRQNSWSSWVSUUVOWOQ__^^]ZTWUOKU]QFHJOOQOV]YSSYVRNOONSXRSX\`\TPMSQPNSYTOPQTRXUVZ^`]\WXNOOOOMRVTVVZZVSSSKLRPLNPPLLHFDCQXYQLMPRTNMRNMNOHHGJXYUPOSQMLVZ[ZZUVROKKLIGJPKMRPOOJFLNORSOLOQOPVSTTPSVVPIMOPSUVQIHKHJNPNNRV\baWRRQHFGMNU[YW[ejfYOTSJ?JWSRWWSTSKCKRY][TPNLQMMQNPTT\fjg^ZVWYZTUWUYab_b`cbhicXNJHQWTVYTOQXYWY[WQLKQXRMOQSXTIMNQZ[XSQNJSTTOHDBJKEHKSSQS[^WHDGIHNPTUNPROLRUSMMSTTSTSQUWQD?FIGDIOOQPY^_ZVQQVXWYZUPONKMT[[OGHFIMTVRSM:AOOOQYWNRQLPIA=HSQILN]dddaWUVRLFL\ZE6FG?VZccXSVPFTSWZ^XLAKKNXYWVXPLKMPKCHPUWTNUYXXVXSFACJOMHE:BMQUUSQZ\VWSOEEKMT[_ZTQXRLSXWTSUVUTNHKOUVZYSRQRTQTZXNEGS^^UNRMMPQPJHGIQQQNXZ[XXUVX\^YVUUOQQQMNQTUTTZ^\RLOQOKOLOMLU]^[\[YTJKQRPSTNLPTUUMILTUWTYZVPH@PZ[SNNOSRSUWYZ\WVYSPU[YYYPJLRUUJCLWUOPZ\UCDDHFBIU]YQQSTVTQTYTQUUVPPSTPGNX]]]^\PKZVWXTOKJNUQWYRKITSSPUSFDAHILQYX]ea_QU_O^^Y9*?CQUb\C[dJJ[]RVKF5LeTKek^|pWgb]ZbdTUepn\WZcgaVVWQY^b]^dhe^TVcfcVUWYWVTXVWVUOSY[_^VWTLQZ]^^VUYXWXUXUYY^^^XYXYYW[XV_b\YT]`\YXXYXPWUSZWU]a`[^\XXYXVVZYYYYXY[Y[[XVWYYWXWWX\VQRUXWZ]]\TXTRNTXVRQSUVRSXYX[[UUVYVVVV[[VVY[YVWXWUYZ]\ZZY[^fhaWTVWZVVUXUYVXWYYVYWSMYVOWSLNUXTWTUTNX\\XTNMLVVTWUWUWWWSVVYXQKRQMSVXWUUTRLNVXWZTQTWUVSPNNMWNOTTLKQSWYUSONOSVSONPPOQVWTXUTNRafaXOQVXWWSVSUUXYVWRUWTPUJR^XWYVMKTRU\b\RQNGHGDIW^WTYULIKJEP[_VX\[YQJTYYVOLNQ[]YVOPYWWZ[[X]ZSUVXXSPRSLFBKRSPIELTRLMUWRSQOSSX_ZMGMNPRICMTUURNJRSWTPKPRSJJZa_XRPPQLQQH?CJHJJMKOPLKLMMMNF?@HGSWVUROMQSPDNTKOMSQNNOMOPMKJHKQWZVLISTNJIPQW[[WZ_c^YVSJGLLIKOQWZVTPSUTQW[VWUNHKQTQTSNK\fhd[YZ_``[``b`[chhhnqqjb]QIMPRVXXQUTTRNUWUQKPQRPQRRVMJKLOVWUXUUUPMKNRMHD@INVTVULSYZPIJLPSJIPQKRROQSMFHJQQQLMPSTOLJGE?7IQRNVWUX\[QMJIMQJBDMIIKMSPIJGGKOQUTZVJIPVXW\YSRPRQOTUTPGHORVVXKIEILTVWNEB?BLQRLLQRVRMLD=MUZWKHQUOPKPV]TKGGIECDKOTSWXUVTPRNGEHNSVRROOTSOQQLILXbbZQJKNQRNPPQUPLSTSTVVTPPNHDLJNMNOQPTUZ\USRTTMMQNLLPKGJROMND=>DV]`Y[JTWVSSZZQBV]\TRRNOJU__XQK@BSQPWZYY]\YUWYVRNIDQYVQUSOW[\XUVV\\YZ[YTW][VUVXWXYTNJRWXWXVTOKHKOT\`UNJK_f`XWTOQWPIOZX]ZYXSPWYRPSWZ\[SMPQORUNOTOQVUOPVXYWW]][VYTQP[a`QISWXWTTQRW[VRMQOLRVWTNS\`\UPNJFFEAFNOSTSTTUVUV\URPWUOY[QHNORUTTSUXXVNSWUWZYWWXWSSPNRRNRWVSKNLLT[XTSROPPRPKLJILVPC@IORSXWUXUSSUTRY[YSVYXQMKQOAKSMB@HTRRKMKPOS__SV[XYZRSXY]J4A==;ESTOQX][ahfeXLIR[[cgYK^g`WroYPMSIULOJT_bUQUTPMXVXWMKNQZbXWVNMTVYMXVXXYUPQYa^WVWWZ`ZXWVOTY]VWXVPSWTTX_a^ZUYZ]Y][]\ZWSSUZYZ\`aa`^_a]XX\dif`VYXYX`bYVWWVXU\[UXVWV[\XZ][XYUTXVZ]]]]YZWWTXVLVNQXVYX__VNVYXVWVVTVXWWQWYWTWYVNSXRTYUUOMWZZ^]XRWgha[VXUSWVTSWZUVTQUWYWURQMUVXVTPSWYWUUUWUVYYSOTTUUVTWYYZYSUUXWTMPTQRYZ\UMVZecTSUXWORUXUQOUWUXXVVVXZWVVYXVSVSSUMNQSVXYSVTSPQWWSUTVWUTTTUYWUTOPMNNVULKQUXXTLPWXNDPTRNPV]acda[SMT[]a_`a_[SPMUXRDHU[`^VTWTSPNMOVXWSRSTVNHILHPUVOQVRRNEILOUTWX[YRNKKMQSLIRPNNSMQSIGKONMROQUXTNJIGLQSTWURSVUUY[UTUURVXZWVPNJFJNHHMOMGLRSG@EPPQRSQSZZHECHNMOVUOJRVZXRPPOJHLEINJEEIHKFFU^aYPLSYZ[_b_RHKMMPQNSWWQQUQOSXSOQV]``^^`\QILT__YWYYVZ^[VUaadhiaXPOOPMTWSSSNQW^`ZTPQZ]]]][WW[YXWZYWRLJMLNSRSURJCPTOPNJNLIFAGPXZQHPSUL;NQQPLKGIMTQGKW[TOPNJC?CKLWWSTUYYVXVWRRVTMJPPPOLMDBKQQLLLIOYXVRRUSTPCHLUWRNSTSOMPHSZXPKGLUXVSMAEKRW_`ZVURPT[ckfZFINJIKKOWVPVTQJLMLGISY[\YLNSOPOWYWRNTTPKONOTZ[Y\]\ZWWYXVPSQZWQNPUVRSSU\ZRUZYTSPVVWZ]^ZVLQVRMMSWWMDPTUXVRNHLNJLQTRNNLTWTJIFMQPLGBBHCCQYZOLKMMMNIJQVQLFMTPOOKVWTMQQSUVSLLUULGOPLKKRWVURPLSTWVQHJPVWWVWNQ[_YMHDBILRNGOMLPQMKMRWRMQXVQMNRSTURROKFHJIDOVWNHOOFCJIDONELONQNPSUQTVUUSSSVVUVSMNQSMIJLHIPPRUVSUXYROLSTUOJQTYRPLLSTOEOTTQQNRSOMOSLJRTURRVVROKMMMT[PL]e]RY^[H(.Nb`SQPTQJFNMHGQTSV`fc]W\[^YTLMQRVabZSOMLPNKMOOKMY]YPPPSURJHPQURICLNRVTSRMCFMPX\XYSSTSXahdVMU[VU\[ejg_WSSRV[[VNAGOVYWXWTRZYWTPW]]][TMINX_[YPQ[ZPPYa^ZXXWPNORWZSNNOPTSUNSW[[YUXXZZZYWY^]ZUZZTQQTSU]ZUQTSSPYZWXOPKJW\US__XX[ZPNNVVXYU][[XWOU\YTOUVTMPTUWYYXXZUNV[ZZPKKHCMPQX][VSRRSX\XIUQOO[`[XXTMKPSTVVSXXSMPVYTKU[]VSKPPTSRQQKJKKNHOHUSPVVPIADTXZYRMNEJSab^_ZERXUTff]COROIVOINQQht^OYcZKOJXXVLLTUTVW[bZUY^[\c\VUXZ^YVU^`ZTVPUKUZ^`c_^YYUXRSXXSKOXVSTWWVXVW^cd[VQSTX[VYZZ\YUTXYTX`bdd^SSVVV`\YYVYWVUSXUYZ_^ZWWV_ed\YONVWXXTXUWUTSQSPQSRMRUWWUWWX[ZVWUXWUYVQPU[VSVYWRSWYSKPRQRTWTVUTVUZ\]WXYWXRVYWTY][[]YVUWVWXVVUUNPNVX[[YYWVTVWVYVUXWVWVT[^WWVPMRXURNOUVTXWWWTUTXVXXQVWWYYWYVUVVSRSVWRSLOVTVTSSPRQSU^\TQPUTRUUVSURQRWXZTURSRONUPIMSVUOOTQWUSPHNOOMMRTVSTRNV^`\XOTSWXVPPSQNORVY[XPFPQSXWSPOJLMFHILSRPQTVUUQRSEDKLV]^ZRIKPVWPRWUTRPMLMRTOIHV\ZTQLIHJHJMOMGFPWUOGDFJNSQMNQWUPPTY]VOKQV[]TLJOGGJJPMGGNRMJNTTMNRVRPUVQLJINNRXZTKFGKQNPTRRUSSUNFMOOPPQNPPR`fa[^YOKPW]_TMKKKGFJTUUSVRHCIJIHCSXTU[ZUPUTKRSTTWWVSOQUVRTUYRKR[^bbb[TUWWYNHPRRNUTQQLJLROONMSXRLQZ[UMOXVRUTTVNKRUQMOPKHVWKISVPQQPV\\[QNQTUXUNFDJOQLPSNKJFFOPNJNNOPKKLKPMKQROLSSOOPURGPTLBEJLOQX[^a_USYXPNGDFIOPMRWYUX_^WRICMTTQHGFLROJHMWZYURWWTQV\\YXPQVUQTTMGIORQFCHIMLJIOOCGEEHLNVWNQXZVSSTWVSWWUY\_WTYWLGROQWSOXX[YQPQPQUSLMQQMKLRSHHOTPJILVWUUSRNCGNQOQQONMRRRMKOOGRb`V]edZIFTbdKLYWOFU]VINRIFN\b^[SLMPK>ENOVcfa\TPIOTRMONNJLOMEFGGKSUUOSURJJNNMRVQLLMUUQXY[\XTTTT_gbXSTXZQIGS][^YSRRRW[YSMQQOPQWXWR[`]ZRKT\]ZYUNSUVSNLN\a[NJRSTUTSTSOLQRTSRNIKSRONUVRJJQRRVWVWVTWZZYSNMSSP[``WQOPSSRNPTPNURSPFK[`YY^^]XWUTRPTZ\SPOIRYYRLJLJIKNSV[^Z[YQJSRWYUSVOHMKMV\^[YVVSONKMQTPOQXZXQNNPONS[VPKJBGR[b\OUZXQJKMRUV\^XOPPXUXRVT<8O_VIAIYed]RW[OAVa_VPUEZbc_PA8H\gUWVLTTLPdtWRT[XXXTWTLQTMWQPLXZTXYXWZd`XNWVVWVXPTXXYXVSUUY^fha]YWUYUYUUTXWUXZVTTY[WWZYRLRWUYWUWW[YYYWVYTVblqpgXMORUVYUXWX^\ZYWSQY[\XQUVW`cYXMQQUUVXXOOTVUVWTVXYONVWUQVUY\d`YWWUWWRKMUXVVPRSUVUVXURQLVYSNKKPVTUX[[[ZYRZVYUSPVZ][UQVUYW\YTWVMWQPTWXY]__\VXYYWVQVSXVQXXYWVMJQUSRRQRTVXTXVUVWTTWUVXTUZ]WUWYUNVNQUQOOSRWWPLPUSVUQTYWSMPSRSPLRWKLPTSRTSSTPPNLTRHKSUUSTTWSVSPGILGFLRSPOVUKQ\``TRVZ[[TLQNFIX[SZ^YTWUSQPONGIOQHJNGLNJMSWVTQLMLA>JQVVNJMT\YZVSRVYZYUTUQRSQMS[a]UPKJJJMMICCBMQUXTLCHOTVOTRTTSVQLY`_TLIS^\XLLMFHQPQUQRSNNJNSOMOUOLNV]UIDJKNOXVQLIGKVXNMJMNHIXXVNKLOLMQQGM`i_VXWYYYSLNKHIHEEGKOSSY[XMHMOMHIOY\_jj]TX^[WY]ceb[VTUVSLNXTWUQOW[a`\USUX[TOWab]YUTPIJOPNRSTYVRKJRXUNRYSQPPPPMJNNGDJPLFPRJKMNKFGMRQPTTQUZ^\ZSPIIPTKEGJGJLKLKOPMLQVQHHMQSNOOLMQOSKJQQJHOQNOSRTUWVYa^WSRJ@DLLMJKFLTPOMLQZYWTNQSXTSOHIOKOLKOMNQRTZSQW]ZXVSVYVNOWYQNJLRROPRPKKJPOKOMJMS[\WGISRUSQRNIOSSU]b`ZYZSMMQWYYTS\[RQPTW[\YVOMMKOLOSNGGGFLNKQSVQNSRPIFUVSPPJCHPWVYZXPJRX]Z_b_XZV[NGOPYREH[WYMGGEKV\^^^]TMSSK9EJR`_YQSI?KSQLSWXOMPRJDHMOTZ\[Z\WRV\\W][XKGLQSTXXVXQPTX_caWZ]ZX^\TOTXUTWUUY[WUOKGTXYYUWWRU[]VOSQW][^^WKMQYXYTW^c`SEISSSTVVWYYUOSTNNNQSMNNKMKLSSOPQSSTVXZZTVZVWPLGHSVNKROPTULNRRUUXRLLR\[\]ZWZ]WUXVSISSQRWWVTWXVTOSZ\VQPV]^WUDJQUWUKMSURJGGR[\`cc]POOEOQPQRPMXYPMTVROY[TKLQQSU\]SMNYXKEMTYX\WSI;BGQ[YUKMI[fib[=KZ_`[TWX_LQTFELR[hj_UQXU:ZYeg]bd]Ocn^KWPY]`hdTNRTSSYXRTUSUVXOQWXUMXQUWVWUZNUV^__XMLRZa][\aZWWOXPWWWZUVOVZ\XUUWXWWUVUMOVVVUZZZYVVWW_krncTMVWUVXWV[W[cab]XV[_^^ZYZY`cXTTUVXVXU]^YRPVUYUZXUVYUUWOSVUUUTVTQVUYUXWURSTPKQUXUUUWXSQSVUMLMOVVPVZ_\VRWKTXUUORVVYYXYYUZ`XVVVSKYPTXYYW\_a]WWZROUSSYUTWUZXVUUWTWQPRSTVUWWMXUTVZZYZYURWTYRUVVSRTTSSOSUUTUTUVUWYVQLUSUVWVWPMMNQSVUVQMSWVRNLSTSSSOOWWUUWSRROPQKKMKGHNQLNZ\[\^eeaXVXXWRMJKEG]`YY^XSZZWQKIHJISQMRRLJPNTWRW[XKCDJNNSXWSSWZYUTSSQRUZZVSTRONLJMUYZVSF:;KOOFEJORSTWWRLKKPWXUOMRRQPKLWTUPLUYVQQSUSUUVYUTTMLPLNPWXVOFCGPVSCGIGKNMKKNQSWYUKKPNIMUWULEMTMJIRTWeibVQNSX\\VPNGGEBGOOROWXWTNMIOURPOV\]cfcXWYSPXbfec`\XXYTJJPNLRTMEKMW\][TRUPSV[^[YXY[UURSOPTVUWXXNMWXQPQOIIMKGCHLMLLKKIGJNKPOJHIEKTRSWXSQUYXUWVOHKOMCDRX[]`]WHDQWUNEFPQMSOTPMNLMZ]ULQURMTWSVEAIPSOL[\^_^THPDT]V6)MQTRGRYSNMRVXLFKJJHDMQTUPPFDGECHPTULPTWVYXTMQWZTRSV\a]]`^UPJHINUWRRWWTMNV\WTX\YQV]_XUUTUXWOLMQVW[YQTYTMKKVbc^^a_YYUOQSTY[OINZ__QQZ\[WWYY[WOIFQVU\]XYVTVSQJKTXPMKCNRVNHOTRPU[]^ZOJPORSUTIFINQVWVWSTSQKIRTTUWUUPNMIJMRX_c`[RVX]ZQQVVUTQQRWW[\YSI?@LY[[\[X\^[TQNWYTQPPJIWXSPMSOQX\XSZ[TQSYTQVYWNNXWUVOMPOOSUUUY[XSTU[d_ULSTYZX^cjh_WU^aYDYkoeOika^a]MPXWZWOZ_\CTPRRSLPNUORhgihebc[]ZOMTJWXWOKRQRVTTTSYUXTMVSWWWWYVYWU`dcYVUY[ZVZ^a]VXQPUVY]Y[^_`\WXYVVY[Y][WW__ZVVXYWW[`aZVZXWWXYVU[^^_^[XZ\]]Y^abaa`_[WPUXTXUUVZXTPRXUXWXYPQOOKPUUYTSUWVTNOTXXRVVSNRWUPSVUWXRLWTX[ZZWVSPLVUUUZYTVW[[ZZad`[WVUWXY]XMLQOUUSVUVWRXXXYYWXVOPSXVQRVUWUSUTTUWTRUWVSRWVTOPNWYWXTORUVTWUTUTUMNNKKTXSTWYTYYWVWXUXRUTWSVSROSZZWVONMNUWJPRVSOOOTTSRSUUY]\[XTTURSNNLMMSWWRTU]a_YW\__\TGRWSQZ`\TVUXVX[XYYWTQQNPPPPPQUVRUYVPOPOPNQVVZVSPIIPKNNJPVYTQPLQRSTROOPUNLT\[TQOJOUVRKKLQPNJLVTPFDLTSQQQPOLJQSTPE@FIQWYPNOSTSSWWSSUXUURQOEFLOKMPUUVKFHPZaZUUUSVUNJPTUOJNTSJL]gieedc[SWWY\ZQMLNPNNPJNWXX\^YTNGCHJJHNQOSX_\ZZVZ[XUXb[JOVQRTQS[YUNORPNQWZ^\[[[[XYXXLJTUTWSRUTQQRSMGLNQLBCFIKPVYUQLLWZUMIJNJJFFMLMROSWXUQPKDHORVQRQTWRGCGJEBOVWNJLOTXWXSTQNMSVLDFEA;@DJPXYUWSUROIKQRUZWNMIJLIGGKQUT[]ZQPSTU\ZQKLOROLQX\SRTUMOTNPUUVVNKTWSL=OU[dbWEMXVPNOPTRNIABABLQQXUUUWSMEJKKOMOPT]_YWQUSSMGLKOTTOKP[_aZRQSQT[[SIF@?MTZ`c_VOEPSRRLHJKMLOOKCJHEP\]USVOLPZXR<7DJQNL@FILIBM_]dc[IZeTYYY^`QIIMUWQNFAKNNMRSQNTQPQRQRUXVSW^YVY`[TXYUSPQTW\[\^[RNMQOPTVSRXXXSKOLLQTZZRZcbXOMIKORTU[ZSQUSRWZVQTRS^c_XW]\YWY\YQNSSMMRTSJOXTNMSXXUXXQIKKCJQXYTNRXROPSSRWSOMOPTSUWRRX][TNKNTVRVWSPVYUXXZXUQPSPLIMVXXUNNSRUTPMR\dbZVVUWXSKOTPUXZXTVWTSRYXSGIJMMOOOVXTNEFSYXVWSPQUSKOQNDDS^YKPWTVWVWW]XRPLR\XROLPRSQTVZadYDKMLW`VJ>CCQQZbff]YY]b`VLY_Z^lne][XJKHWdhdEQdna`aaTUW\egcvnmg]Y^jidVWXULQTTQSUUXVTWUXWa`YX\XVW]_]YZ__\ZZXY\ZXX]`YZVVRPSU[\`_\XUPRLY_dd`YUXXXXUUY\^]aaa_ZVWW_a[USOKSXZ`c_VXZZTU^aZVWWXLQS\YSUUXXURPTRUXYYYTNPQMYRXYXWVUWYVRVWXYUXQRTXWVVUXZXXOMSVXUSQOKOWTXWYXXYSVW[ZZ[WXXZYYURUURTVVWYUUVXWXUWTWVVYXWTMQYXURUVUPTTOPRMQNXWWRNUTSPPSUUXUWVQQTTPRV[WWROQPOSPKNRPSQVTWWUONONUW\ZXWTU[]VTVTSSUUPKUUUTMSVSQPRW\ZX\^]XVRUYTIIGIPSQQMMV[YXZZ^`a^VMSKHPYXPMROMOWXRLNRQLKKHHHLVSOJQXVOOMUXQRROQSQNDAHJMJLQPTSQQVTNNWZVURONNV\\[WSPJIIJHQUMHIGGMQQNHIJNQIBFOJEFMMOFDFHMUQLIMGPUPQTZY]_^YSRMJJPPMKPOPORWXPJIBDJV__^YYagc]RQOLIDCDILMUQQPMOMMPTSRQNJHLLTVUQJEJRPMDHLMNNQRJFMJEKNNPNLIKMRIHLNUWOBBDGJ=GSQJJOQUPKQRNOHJOSMHKIEHJIGRXWTOQOUNNIQU\`ZOGGFCGGFLUSOTWRGFLLU_]QH@AIHJKQVSUXXOQNLHRRTWVNMIOHGMURUZYSPRMJPQPRSTTPOLNNRMOMFPWZXROUUIJJNNWYVYVUVWRPQSRUVPQOT[YUFHJGJORQMIIFKFISVPJJNXWQLKHEFKMPSTMCFLPSVWVRNHPXOMLEEJOVTQLPK9U\_UY_XKY[UcZPWYKLNKMRPNKLNLPTXXNNWWU[YWKIEHRYXTLTZZRUWSLOSSSSVXWVUPNQSNPTWXSPUNIQQQUUZYWU\]TPWYTMGNS\\TMIQSY[VZ`b[QQOHMV[YY^]^YS[_\XUUWURZWLQUXWTXZTV__YVVUQOJT_]VPKMPVYWVSQQVWTPPPSPIGKINNGNUQQXUWUXYYVTUTPOMRWX[ZNIONQPQWYYZZSUWYXTNIPTOMP[WVVRRMMW]YUSQMNPTUUNKMBGSYWVSQNSXXVVXWOLRXUWZZRRYYKX`ZOMOOX]^ZYWSSRNSRX`]QMMHHOSMUTNIRY`aZG8BECAF55BEIellc[FT\VIEZa`J^acsw[MUPU]_LZh[QVNP[h\LQVSXXZWYVWXXRUUSUcefb__WWVZ\ZVU[\YRYXVYYWUWYW_UXXUVVW\ac]XVYYWX[`a[[^YVXUWRWVUZ_`\_\USW_b[USVSRX_fe`WQLOSXgkcVUZVVZWVXWXUQMLOTVUWYTVULLTURRW[ZYYWTRTWSSW[^WUOWTOQRPRTVVSWUUUYUOSUVYYYTUXX[YTMRXTV[WRSWUQUSVUORTTLPYWWYUVVUUVVUWUYSVSRWQKLTUTUXSPQLNUWYXUSRWWUUTTVVZ]WROVVVSUUUWOKSWTQNMOSTQOVUWSPMLRVWWUVTWSU[]SWUNRPSUOJSVQQQVUQVRR[_\UUWUTTTWWTWSPQSLHJKHJVYZ[XX]^[[]WLHLLORNMNPKEHNJIKOMLKMNOLKORMNQIJRSOQTLORPWTOKJKLPOIKSUVYZXSTOJT][PQPIIMSQROJQSPPMOPRLFNNKB?KOMIIMOLHHSNIOPSSNJKNOPJAIMDELPRTY[VVQTTSNKLQWVOQVLJNOSWZFRVQNLP[`[SU\ZTQNC@LQYa_^[VMEFNRSSRLPOJJLRNS]]ZVTTOKNNNMMTWXVOHFPZXRILORLIIJIKPNORNTVPIEBHQX\]ZRNUchaVQW]ZQCAFDJTTUQQPNRZ]VNQNMSOJNOJLMKLSUVVGJOSSWVKCKHELQSNKHD=LNQPNOSSMMOVVTKFJQWXSONRYULEGIMLNNMGKNLHNT[ZWTNHJPLMKUXURIGHIJMMPUTRWXYRJJOU\`\TSOACFKLSTX[YVXYRKJPTQMNNONMILUXRMIOTQOHCKPQQRVXVQPT\[WOKDKPSWTLVYUPVSTUURUWUWWVXYXUOIFKKNRTSPIBCHMOOMLMUSRMPNLH=JV[PGLNJDHPPIUVLGJLTVWTRLPSRKLRSTL@EZUSQBFVc^E.GQUUGEJ[XTRVLMX\ZWTPSYWKVZYYVRXZXZ^YSKBDJJHFMUWXSVWP@CRTSPS^ba`^XTPEFR[ZQRW[UUVXSRRPNR_da[_`[M>FQXYURDMRRRVZ]a]SSQMNSVPSYVUUORUTSNV\ULX\UMORW[[PJWac\VXVVYPKW[YSIGRYZYYTLGGKILMMHFKOQUUMC@OVQMLLNLKS[^XOJNLMQPRRJJQKLNQWYVQHT\^]]YOLNQQPRXYTRMPRNTZXSPSTWY\\XYWWRKQV[[YQMIRSV]ab^PONKSVQBGRVRT^YOTOJOSY[\]XSQOPQRSRRLVYUQW\[[SIP\^XVRKQZQV^cZJJMLYWIKR_d`NYZiX4STOr{oK]aLQUOXJQSUWQRVWIRWXVUYaYVUVW[^[QSTYWY[ZWTYZVXVUYXWPXXZ[\\b^XXWSYVYVVXZaa][\_b`[V[UW]__[XVUTWY\YW[Y[\\VW\`_YX_`_^`ge\SOXNY`klg^XVZZ]YY^YXUXRKLVYTWVUVLXSYUTV\\YXYYSQRVUWW_^ZSPWTOMPWNXNPRWYVXYUWY^[VSV_aZXZUNXUYWUWVYSYVYWXXXUTSKPVXYUXYVWVYVXWQTWVVWPNLKMQTVXWXRPPQNSWWXTNTSNSXXSNTZYSRRTPQUUVSLLTWXTQRSXVVQOUVTOIRNWUWRRTTSWWXVSWROORPINTRRRUURITVMV]^VVUYVWWZWUWT\XQIIQPQVXYZURXSLNQQIJPPSVRLNIKLMQSHGNPRONPRTSPLMTTQKQSKIIMPR\\RDIRWZWPIFORPQUXTUUQQ[ZUQNKJS\YO?>JQNRUSVYWPKRQPKOSTTRQUWSRURIHOYYRKLPXYSI=FEFNQRMRZ[ULMRQKLKMOWXTVOIKQOUUOQSQQQIW`\RNRROPNMQV]hjdZSPOIKSRPNVZXRNRPUZVRY]`[XSONSTNKRXVTURMT[_`[RKNKLLLRRQLPPKKRNG@JNQR\[SKDIX[XUX_de[OKPPOS[ZVQKMLU[][TRSPNLRNGCBDPY[ZSL;LOIRQOLQOKNY\YWVPGIQQRMNJLMMRXRNMNKNUZUKIP[YSJHFIHNQGBIMKEBGLNRSTTRMGNKGOVUQNIIGLTRV\XOIMLPLRWXZSGFJLNJJITTY\[RKSUMHORUUPLOTQGARXWPMMMNJKGADRURLIPOMKOTSRQLJLEGONFNUNPUWSRZZQLONHGLOPPMGFHSQJOTVVKFLPPNRJLNOQQOGDFE@HTOINQOLLNUNILCFGPYVKIMLSRJHJOPRONPTXQLBCARVH?YX]_PSWJYZWSTb]TNQPPNKJKVNSQNTUPJJLHJNPTQOPTVVVSRTSPQW_a`ZUYX[]\VLAANZXPMW_\QQVTRSSWT_ed`\XZUORYZXVWS[^SJUZ\`XSQUXWWXT\aZTTSPVZVQUXUPW^]YUTXZ\VDLWZYUUSSZWVUURMFGNQNT[YSLNJLONNKKRQTXYVRKMUVRLIPTWZ`c]SKOOJIGEICMWRRTSTVWRSRW\]\\UJGOPXVXYYUOOSKJRRKEMQQTZZ[\\[ZWRVXY[XSPLNLR]d`WLMT\\VOMKLGO\ZRNHHPQRU\\][WQOPJC?DQY]\]bfcb\TN\]QSb_MHPVdgdYFIQdnaFJW]HPb^]ZDaZPgwrmUZVONUWQPNXTKTXXZ`fi_TZdaSXSV]`a]VXWSLQPONVUVZ\XRVWUUXU\]^\[TWTUXYTOSX[[]WV[`ab_[[^[[YWX]]\ZY[]]XZ\[X\^WXZ\XY_gd]Y]^YTWXXTY_`XZWZ\`_[VWVWX\VTWRVQUU]ZURTXUYUWXVONORVURROVUUROOMOYPUQJULMNNMPYX]_`^WYXZcaZVWUTUVYUVXWXVYVXVXYVWXNRMOWUYUZXUYOWRSYXVTWUYNTUWTXUYWXUTVSOQRSTTOTXXTWXVSTXURUWTJSRUVUMPRWVSRQTVWVOLSTTUTTOOVSVWVMORSURUWWSOURULUSSTUWTVRNRRVSSUUWTXTTWYXSWTSOWW[XZZUUJFLKNNSZWSRPRNKGKIKQTUQMMPRQKLMQQQRSRQXSOOTQPPKFGTXRNRTY\WTTVTPOKGJHPUPOPPMLIGMU]XLJIMNJNWX\]\VOJMPSOGHRTW[YXUSJDGIPRTPICS[TD8>CNPROGCIPUSNQTQNKKKPTTTRONVTSQLRIMTMJS]\TJLNDGKNNR\fjkic]VOLMQXYVOMFFNRSWSMR[_^[Z[WSQRZ`_]WVVUWZ]ddYQW]XTOPOMLLPNPMKBELJHPTWOEIJMSNPWX]``YWVQJLSQKIBJLKSWYSVWRIPRRKDDDKVXRRRPNMNPQONIIHIPYXY\VQNOROJILOPNPTSRQTRJLQNIMNIOPQRLOMPOIFIMJKILLIJQSU]ZUTSKNSWVSF@EMNORWOEDIMSVVZTNHFDCENTWWSNOZ[URRWPLQSTPUUXXVLFNYYUROQOSVXQKT]WONLPQQQTVRTPLIGJONGMMRY_XUXZZ[SRKBHSSTURONMQROLLMXVOOUPHNSQSTOPPNJLLKNWXPQTWRMNMPQGLLHR[]VSYVKEHQQJMMVXQRWUTLQHDKHI\_WXXPYP>ZYZ\`UHCBILDNWRNOMJIOPMLLKJAFKMQVPKKNQZXRNLMTW^b]SHIIQSOONHERYTLMUVLQRUUY_`ZZZXVTTXUQQW\WOVV\\RJNZWVV\^```\VS__YPRXZW[ZRUX\^[WYZ]\[WQJJJLRUSNLKQUSRRMMOOQPTYZZPRVVWXPJKNPRKJLUWWRRSUTOPWWUUTOPPNRTMKRUMJOKNRQORYYWXYUVURQMKNV[^[UQMQVXUSRQLMUUUTRTTSXUXZVVWRSTW]\YTJNY[XOLS`b_YQNOKGABEGJMNLRZY\Z[[SMJD:IPY^cda^`\Z`bXTWELc^JKNA[fb\J7?V]\EJT\Y[WDRGM_\B_`mojOUW_aejk_VLOVUUY_gmdX\UWX[WTWSNSTQ[[UTNRVWVX\ZWWVXWVQ[^`^YVTTYYTWVXUTTTUWWX_YXYWX\^]XVV[a]VUZYXXWWXRUYY]baZV_ij`VZ_[UUW]XUXYYXZ\^[YXTUMX^`\XXYWSQT\_WVQSXVUUUWYXRSU[YUPRYWRRXWWTRXUTVWURNORY\`b_XXUVY^aZUSRTYVRRWZVVW_c[VQPVSTNPUVXVVUVXWRWYUZ[^^[VWYTWVUVTUOQRPSSNJUXXVXXWWUVWTSVUYUYWQQLKSV\ZVKKUSWSNQUUPMKRTYTOONRWVXTYWORSTUSYSTVWXSRUSVTTRWTUJVUU[[SUVWMOPNTWTVWUQPZ^XZ_]VQMLUWVSV\^ZWTSPQMIJJRYXSPPSUVSPRUTQNSRQURQPIFLURDEPUSRTPNNPOPNQSQTPPINRQLDJMIOOOLMNJKRPVWTTVUSQTUQJOMKJGLKWYTLNONJFDA@MUM?GSUOJDJVZXVM>ILF>HOQRQRNNUXPECEFFHJMQQNMLXYSPPONSMIMOLNOMJQOKKMLJJKOQTPSVY]]WVOLONHHGGNTWRNNRURQSQIMNQPQHEILJTWY[WVMIIPTNHIKPNNQJGRVVSUZWRGDLNQRUTWTQLPTYYTPONOQRSPUURLGCKJQVYZUZWPT\WHOXWUUTURLGJTUPLPTQOOUVTVRUWZUWUPPMKNLNRRTXVURPOPTTPMTZXZYLFKQJOXYTUPORWWUZXQKNHGMRLKQQQQGGV]]XVWOIKRPIQRR[XXXWMJXYLNJLMCKCLSVWKAZ_cheVJCAB@FQVVZVMMSWSLOMPPNIPPOQOGA@FLW[YPNQTURPNHGHFE@NWSGN\YNEONW]\XU\c`[[\TPTZ[WNFQX\`_\QMMRJMSUVV]ac\TDNVSRUX__YYVPPX[[UQQTX[[\ZSQODFNOTY[YYKFNMLNRPPUXWPJKRUVXQNRUYTNGJOSRVQQVQJLNJJJKNUYYXURT]a_ZUSVZYURSPTSROMKE@;:ENOQSSPNHOTWUTTPRTMRVONSVURPQNNTXYW[]^\UTNRVZXRSWXY[VNRUUOJLMRRQSSUX]][XQKKCEMVXY^][YSKJYaZTKEW]W]]K6M`ileNCTNFISY\caRLRQP\SRSMMMKQUKWRWjj_[MWRVS]^VXWVJO_a`XWVSUPMTR[^UOPONQVaa``\UWQV`bXXWQORRSWYZXWVUSTXUY^^USTWVZXWUUUUVWVVTWRLKVPXYUUbg^WUekgZW^]WYXYYSY\XVXVVUWVXVXXY\\ZYXWQQUXYWPPQSWWWVYYWYXY[XXQTUWWUVUUQMQNMV\[UXYUVY]^ZXURTTWXZXUYWWORPVVWUW[^]YOQPVTYWYZYXWWPNSPRRUVVWZYWUYYVVWXYUOMVSYYSRRVVXZZVQNRYUXKV\^]URNKNPSVVVMNQWWXTRSRRQMJSVWSRLQTWTWZVRRROOUWVQSVSVQTVX^WTSWRSUVW^bZSURPIQQUQVWXUTVSXSNLCELJQXWVWZ\[VNOLKNJHJDKRLLVYTTTNGINQPQQQMOLKHAEMQLGCRVWSRPUVXSKGLRTUXYSSWQIISZUUSPLLNGKPUY]YRLFHJRWRDEJIIIMQVRIEGLPSQRTOSYWMDGMRNILVZWZWOJIKPOMPPVOMY\[WVQMQUPQTUVRQONLHLPTPGKKEIMLHIQ_fb_`cb_ZSV[\YNKOLJNMRPNJSRG>JOLX^a^ZRORSW]]YSRRVYZXQSWXQQQLJLV\Z[[[VNTTMJU`a[ZYSMQSVXWTRPGHE@ADMTRPEEHOTQLGILPLMMMTUOFIPSUOLOLFMTWTNRSSQJGMQVTTSSWUOMTYZWOLNQTVNLMVVNONEDOSPJSRVTTRQLDBJNH>LW^`_[UOHKTXOAJRVURRUUUUYY[YTHPVWUVWRJHDHPVWVSPIIKIOUWVRQMONNOWWTRPVNHOOEJUWXWRQSPI>EQNEOTQPMUWQRPPVUY\\UMMLNPQTSRWXWSPPLKPQURVY][PCNXWOLOPQNELRTPUVQJFIJMMLPNLLHA:EUYPMKOW[YTTUMPRUXXUXRZ`YVWLANOK@8[b`^XQRPICJYYYa_OANRNPPRWWWTPUVVSQPSSTUZYPMRNPWYXWNPQINW^^ST_]WKKR\edZSY\]X]a\VU[[VPNJNSUZWQNRULHQZ\VM[^\QKW[TNUYZ[WTVURRWWYTOHPROW[YRKJHOQUYW[XTLKMMQSSLPUTSUOTSQKMVYSPUPOLLQVVSQRLJRSOMWVRW]\PNWVY_\\USTWRQUVUQKINUURLEEMQNPTWTQLPWWWXUPWWN@LOOWWVQROOOU\\ZZXUPMMNPYXRTTVPS\WSY]\UNJFIPQRONQYZ][XUURQQGPUUSRVNMOSYRR\UU[[daVXYQRb^NE>MCKCEL]^eZ[IGR_dfhTOZb`SRMNSUT^qUSPdbVPN[WUX`a]YW][XPWVURVVUX_WTXZ\Y_aaUXV^]WXTWTXQVUVUWX\XYY[WU]_`[UWWUU[\[WX[XUXVYWWUSUVYXWbdaYXZbc_XWYWYWVVQPTVZWRSUYZVXTTUVYXWUVVXUZUVWUUVUQPTTUYRUUUXVTTZ][ZYVURRXTRYXVY\\TWUXWXYVMQSTWVYW[YUUPPVXOUYXXYVUTPQUVUXU]XWTROVUOSY_XOYVUYUVYPXVXWSPJOVQYYTVQW[YRPNLWUXUXWZXSUSKLMMRSTSSLKTSVSRNPXUPLQW[YUT_a\VXWVUWOUTWTUQVVTTVSWYXTTZ\[XWXdmhXWYVNLUVVUZYXVUYWPMIOQNRW]\[[]\WPMMOSPPMFHMLLU[VSPIFLRVTSQQOKIKMMLKDCHHNTRMHOUVPNPQOQOOU\WVZVCK\_[RIFOQSSPNTWTRPJMM@FSTFJPNEJQUUQSRQPSVVVVVTSPPNKMMLPPQTUVWUXVQQQFFOURQWZRSWVKWXQKUPOILTDDLNQSQITZTJNKIGCORQ]mqibXQVXZVSORNCHNNTRFDMKMUVSPUZ[VRQOTU_c^]XXPSTOSTVURTSUOSNQVPSXWUWXUTX]]VZ_YORXXWSV\]XOJGHKMOOPQI?DFHOPRVUQGDCFNPLMQWWONSOFNTTUQQTWSOIDLRWTSYYMELQRSORSTNHGHMTYZTRRIGMPLLLSXXWSLIA@KRM@AOTUTWWQORZ^VE@HOUWVOCEQXZ`b]QWVOMPWYQHGILTZ[ZSRMMLPQOQUYYXXRPSRORTYVJLIGKLIORRRNQQCCNOPRRMAIUYQIQWWYOV[VSRNMOSTPONSSVUUSIHLOSTMJOGBL\`XMGEGHGOZUQTPGGMOMNIIPMCMUIBKLMOIOUYXX[]]PGLOSONS]_][]YV?>LZ_\daVQYTTJZ_][P>EUYRTSOKGOW]]Va_[XTPNOU\[TWWRVSTVTNHKTXQOPQRV^dbZUZYTQQ\ec_WRSSKIUZYXYWTNRUZXSORUSOSWRMONQNMTWYSNIUNKPXYRRONXZZTVYVQONQJKUTOQTTQKPOPV^[TMUY_[XUUWQSSVXXXWW][SLRNFGJNPURPOMQVWQOOVVX_`SJNOPMJSXTPOOQRTPMIFLV\XOHEMQQOOQLKOQTUTUVTQRSPMIPRNQ\\UPX\]XRVUQNAAFMYYTTTTLJOSV^bc\MEJS\YTMNPW^^__^ZYXXQLOLNSTNMU^WQVcfb^WVTKNRV\QWYVWPMP]bV;S^jhf]TWfmjX\e]KE^SMN_`gqmYX`TVTWTW`ec]WTRLVOYSUVQSXWW\^^]c]UVbc^TWVXXWTNXZYY[WUVY[Z[[]YXYZXZWYZWUX`\WX\[WZ^^ZVTUXYSY^dh`YVZ\`_^QYMNMWVYXWVVZXWWNPXTRRLXVQNWUWVYTXSVYXUVNXSTYYTSTYWWYXVVXZUULYYWXSXXUVVVWTTXYTUVXUYXW[XUXXYZXKNSLPXUUVWXPNYWXSQOPQLTWVTPSYZb^YWTSX]VTXUXUSPRUTRQQPWVTWYXXSMORVWWY\ZXTSUSXRVPNXNKSOWTTPORUTVVQXKRTVU^`]WSNNYUVOUUZWXYTWRLJSYXXTUUWTUctyjXWTQTUTPVTWPQSQMMSPOPJM[be^[][YRUWWQT[[PTXWPNMRTTIEFMSXTRRVROQPPKFNSXWSUPK=CNPLLNTVTJBPROKRPDPZYPLGJQUZYRMXYUOLLRRKITSKFMKENOSPTTQNRUZUSTQTSGBJLLHNVSPNMMMLQOMORRPSTRRRSMIQTRSYVTSWMFFMONWWQRSTYXNNODFE>GOXbmpkhaLMQNNKMWVJGMQVUOJJPMNQQSX__URRHHS\]^^[WOMRQRRMMRTXURRUYYSMUZYVVY\\\ZUVY^XSOSXWTY\[XUWPLLLNPPIDD@@JMQTTQKIHFKOSPKHMKKLI>FJLNSROMQONLKMOJNZXVBMPPLIITYTGEHLLSTTTSKIJMOTTVYTNIJJJPORPLGHGILMQT[aaTLLHHLRVUREJTUU\ec]^ZNDDLLKIPMMKQUSQMPPKPPIFOUVXZXQRSUY[YTQJLMMIHORRTOLSRPNKPUTPELYZWVXZZZRNUPOQJJJMRSNPONRUTPOJINTZSJFHCGWYRJLJLKEITRORRKKQUSTTRROCDQPEIGJNUPTJGQZZTEHQVUPCOUYUR^TQPJJ]e`dgb_c^ZIX][ZTB;KIJRRTUUU[\YW\_YSVPNSZ``XQQNIMSZVXQRSUSTWSVXYbf_U\bc[VXXSIPY]`YUZYZZ[SRMJPVYSUWVNMLRV\WQRVTNPYXUWZRMLQQRRRMUXTNKRQLRTQLNOJFRWTRONONNTVTU[a][X[]XMMQUXRORZ\XVQPOEBDEMVQNVUXWOKMPMPVWYRONHHJGQ\[WRMLMNLKQLJRWTLQUQMUWSQKGGMKJLJQYVMKPTMPXW[abVRZ]ZQPPLOIFKCCPV\\OLIIKCOY^_]WXY`d^UQSWY_^VU]_\[YSMRKMWZYLSXXOJR]ce`Z[ZQEET[cba^VXRZ`QF\`NWed^MDVbLMfcPY`TQUnsnleUMJK^VTM_fgc^]UJSOX[WKMLTOOTQYWVddVY^_WPPWZXXTWWTVUVUVWXYZUYTXWUWNUWXXYY^]ZWUWZZ[[[VWY[\XZZY_\VUWWZW_]WUYVPUVUSVRUZ]VYVNOTUUNO\YYWXNSVV\WW[YUPQVVXYXWXVVXXTSPQWX\YTKQWTRSVYUPRUUWUTQX^]YQPW\USXWTWTKPUWVWYVU[WQLXWUXUYUQTWVTUUXY[\[WVWY[^[baZVYUMUWUTSTXXVVYZUVXSVWXUXWWWSUSPUQSUXTPSMNSQTTVWSSRUWPLSTXWVSUXVWRWKQSQQWUVWVWRPUUWUTRNNTSVTYy††w`RQOWTOOSWTTSURVTWTNHKOPP[YVYXWVYW]`UOQRWWXVSNJNTPOKNMHNPRXaa[SPMOKQZ[VUVTOMOSOOOQUWYTLSYTMJICMYQLPUXVWVVJGOPKNLKMRVPOMGMRNNNLQUTWTSV[ZTOQRPOFEKPGCLROQIKLEJNGMPPPQQNV\\XPONIKSY[RNRTLGLKN\OLPTWTRWSJLNOS\acgiruvj]TTSNPVZVNHIRUSNKONGADJQZ\ZWRJKTURWWUOOMKNPKKSXYSQMNSUVSKMQPPNP[\\UNSY]]ZRMSSVTW\^a]UKSQNJILQSKEDMLILPLLFFLJJOPTSPLJDA=>BLSXRLKEILNQMHMSUTWUPRPGBEOPNNIBDIORVTPNMRSUVW[VUONKMPUTTRQNLRXXQKPWTMKPOKLSSTQJDQWWZbbaghcUSUPJMNOKLMPMIJSTJHOMFGIMRZ]SOSRSUOSWVLPPOKGJRTQNOUVSKPURTORSUXXXZ^XQOOMRUQMHHMXWRPKOXTMJONORWXTTNFILNOVWTONIGNJGPPQLMT[YVYSNK@GOMPNLOZ^[WPPV^^NCX^^XQOSQISYE5ROMU[[bihcYTXgdW\SONIFJOLSWY\Z^[QKS]^SKNJGTUUSNHEHCJLPRUUNSWXTONORUX_YWafa\XTNNLOW[\XTUYY__TNRPQPMLSSNEEIPRZ]PRVYPRUQFOVMEOSTVXVRVYUKEMJGIHJJPUTMRVPGLRUZWRSXXV[YLKSWULOSPLHIRZWUSTTPLICGRZXUX[XTLFRWWKISYUOSVPQLMUYYYXONOMMONCKQHKY]TJNVXUSNKPTRLGKRONMOROQMPX`b[U\\ST[WHIOTQOQVW\[UPLOSOGOW]\\YWZ[XQSVYRT[Q?WZUMTSPQMOVRTQPUXWTLOUY_VU\_^[K_ee^]Z_ZLPMUd]KQW[YSK?98OUUHZ_WMQZrqSaskQV\ieXYa`[UMTXYX[YWXTVUQVL]daWSWYUTUXUTKTUYVYYTSUSSTWSWXZ_YUTWUYWYVWXYVXUTV\^WUXZ\\[XYTSTPZT]`ZVTWWXVYQYQTTXW\WUVZUXX[YWX]\UXSSXZY]_^WWSY^^\XTWWWROTXXWNKTZ_]UQYWUXURZWWWYOLLXOX`^VNQXWYVVUYUOYMYZZ[VYWUYXTXTUPRSQWUWSTVX[^a]ZZWXWXWVZYVYXTTTTTJMTUWVUXYXXUSUVWXVUPPX]UPSUXXWVWWRRUVSSXVQOXMTRPRSTTVLWSPVPTOSRQRPUVTZXUOTRRWUNLQS[XTOb{€zhWRRUQOJIXUZVSUSPMKGKYWROTX\ZWZYSQUVTQHMSQRONMPSWUVQTKKPOW]^[VSUQNOSSHJNNNPUWPOTWTMRTNOURMMPEDPROSSUSORQJKRSTXUOHMSWRHRVWURPJLMNSUW]b\TPJOTOGBKKGJROOKMQTQQOILQOUVTQLRXUUTOD?HOTPLPQQMLCNRQLHJMROKJMNMORZ]\]^chswsgZTTTTRSVTMQY]_UORKMIICIHNW\[UWYQFLQKHJPPQRNKNVSQSPKHHIIGJGJPQNQWTWTPSYSTZWVWTPRX`ed[SPPJHJLUWROIIJDNUURJDIINTUW[VJCIKJMMRRUROJ?EACJGA@JLNRRXTVWNLKGFHGJJEIORVUOOSTQQWVRNNLLILLW\\XSKMZ]TMFEKNQSOMNSQTTLEJIOV[^_aecaZZVNMPNOIOUUONRTPOQOMRNLJV_XOOKMQOQUUOIFORLHPVXXWURMKMTWUUUURMNOQVVRQNLSVPOWVXZWQOMPTPIIFOQSNKPQRRUNKNV]ZZZUNPNOKJLMMPXXMTSTXUSZ[VTMPQV\]^\W[daTI\`[SQ\b]^YRD2NVQTd]cdZULHZY_RQRQOQSOGQXWXSUNMS\\UFKKILH<=?@DJCHMHCMNPNMTPIJNMNVXXX__VHMLNNMTWXTLNOMV[[NGPYY\YONRTWYSPNQTQLPMJJNHIPMG>PVWYZVJHPPLJOHIOIEEBJSRRTXYZ\[WURWZWIJPJJLRPMTYVPQORWZUVXVMHMMHMRNMTYWQKLMXYUKR[WNRUOPTNPUWSSUTTSNOKGQSRPWYWROQW\[VROLRPFAGKMLMLIRUSX__[Z^]YYa\OKOIJMX]XWY[]VSVXWPQSXVYVRPOOQWSCHTVNNTRHNX\XQJQY[XQIJTSV]ZYLLKZfmlbOVFVbffe]gc[Z\YgdXFCRQHJTTIE^iabRJTqgOIQRQSUX_bb_Y\]STY\ZZXVTKQXb^TZbaWROXVWTRUYTVYYWLQYSUTPXW[ZZWXUUVWWW\\ZVWXZ_ce`\^_`ZYVUUSWUO_he[UXVWYZYZW^]VUXYWW^YTX^`_Z\URTTXYVV\^WWWRWYXYVWXUVOMQQNOMPW[YSQWYYWYVXXZWWNSLURW\^[YQWUWVTUWUWMNUXWYYUXVUURTWWSSSYVXXUYUYUW[[XXUW[]\YWYXWUYUUUVTWVXWTUVUUQMLNPOLSUVW[c[STUROSXTYUTXUSUXXTWPOVWSLLSWWVPLTTVKOTTSQNQUZ]ZTPLORUUUTTUWVPKM`moaVVXYWUQIIWZXZ^\TUTST[\VPSY[ZU]^XRPW]RMLNUVUTQQYY[WWTSSRJEKOSRRSQPPUSNPTTUXVQQOTUOIPQJIPOLRUNNRURNNNLJKLKOTZWVVTJIQYVRSUSNSSKHDERTOTWSOQOPSMFIFHFOXZVQKTUTUPHQOLJRSJHKOVY[SPKLKLPUVXVVNIORRINIHOQFBDLLIKNRY^_\SZeh^USRTSPRVWWVWZ\WNSNNQMHIJMSXXY\]VQPLMGOUYZ__\QGKRWQNSXREJRQOQRW[[]_d[][OKT[bc`\WXW[aaZRLMFEHLPTSRKD=FPRSOKLQXYVSSRHDPVULNRSSSRNID;GLKKPWYVTMDMKNMKKPRQSUTNMOUPKNQMJDDHGIMMOZZTMLORUROPRMEBKQSRUWZ[VXZVRVUZXTT\^\VQPRTUVQMVWTTTQLLSW\YTPOQUTVTSUXVYYWSLENTRMFBJSXSQNJGQXWMDORKDNRRQPLOONONOWZYXSOOMMOMLMPNKIEBIOU]YRFDDLS[[Y\WNRPFDNPS\WKJUSVWUV_YSWPJNW\^[WORVJIURO[\NY`^UFDCX`Y_heV_ZR?Na\WWQPQMCGQJKNRWVVZRLRUNIORKKMJCELLQQVWH?HRWUQTSQRNKORWX_baVLMNIGR`dd\_]URYWWRNSUVXUOSVYX[YXXTTQUVSNIHPQSWUUTXVX\YMIJGBMWULRSSPEHTTPMRSWVURRTSWVSJGDGJOPPUYNQQQJMRXZWVPNPPNPROJR[[POSMNY[VXYSQXWTVSNKSYVPQPQRTRHJSXTUNQTSPQY\^YWPLIKGHOUTSQNROTXUY]XWVYVad\QQRIEMQYXVUYZYUJPTUT\\WXTKMRQNR[WTY[]][XQIKOVUSTaecYG8BIMW][ZXVYb`e]WWIBcddfdiiTTTY]hWRZXR>@TYSA^c]`XgSUNMT[\YTVYZV[]XOOTUSX[YTXYcf_UX^TUMSWXVPSTVYVTVULVSTWTUWVX^\WUXUUYXUZ`]UQUXW\c_[Zab\ZY[[VPOUX``XWVUSRTX_`\ZVTVW[ZUWXUW\\\ZXUW[ZXTWVYVUXUVWYUW\\WVWTPNUUYWTYUYUXUVVSQXXWXVWSVYWSX]]USVVZVXVYWXOLVVPUUVXXWYYXWVXVX[VLRWYUTWWUXYXVYVYWYV[YXPRLLNS[^ZVZZXYUTUMJQQOQUW[YYa]WSSQQVVTUVXXTORXTUXRVUWTUJNSSWUJVTUSVOQQMNSVZ[XTSPRSVUWY\VVVWSUWhieVTRZXTSVURXZWZYXZUQII][TRPTWPNPPOSW\^[TPLNTY^]YVVQQKOVTQQOB@EOTPMQSWYWTUW[][RQRRNGGRVTMOPHPSOHNPQSMKKJMKKIQROQUWUMMTTOTRNOOTMJIJKHCIONONRVTMHGGKJLUYVNFHSRUUQVVPLMRNFFCKUTURNRQSY[XKMQOMPNTTIMRPPQRQOKKHJT^f`RMYZRSRMJMLNTTQUUOVUQLKFOLLKMMT[VQ[_]\ZUOOWZX\]b`WLSZ][RU^\QJPHGMTXYWW[\_]UKISX_^XVXYTUWZZTLNLLOOMRXWUTJELRVTLKQXXPKIMJILQTMLOOJKOKE?@DIGFAEIHJTXULSMNWXYXTRYVWX\ZVNOPNJRTMDBAKKKKELQTQQRQNJGGPWSGDOUQHANYVSU\YVSUURGGNUVYPU^]\ZRKMPRXTLJJTY]ZQPUUQPRTNY\[Y\^XNIQUSMLFKOLEIKKGQYXOKHRQOSXSMNOTXUQLHHJNQNJLOPPLKLOOLLCJSU[[WOOMEJRURTZYSY[SIENXZULMRWXYXSXYWZTENV\XURMOXUWUSJ][PMWTUVXKRYUW]ZVSZLBL[YQJGKP\UKSVXRT\\[[XRSRNINLOSWVMMNIGMSSQE?JSSS\\XZVSSVTOX]XUONTUQZcf`[]e_]_YSOPSRPTUOT][XUX[\YSOUVTMLUVWVXYSSSYXWROIFGNTXVTHKPOUOPPCBHJLPUYYWYYWWTOLRVTUV\[SMSPNTVZZSSZ\_ZVRTVQVYXSPRSTX[XRMHKTW]]XTSRVUQVTLJRVURQOQSPTYUTXXVUVXXY[\YYXUQPWUVZXWSTUURWVTVZY]a[QIMLMPPRONRJKKPPT\^_^XORTVJNUYXUX]afc]VUPIQRSSTURUWPOVWULRWSOTTPNTb\W[\MNUAMFGRSagfdca^[LCQXM[XY\C=TQJRSTLRMPTXV^ihe]ZX]`b\UY^`a`ZVPPRQWYYWWMLSYXWYZVVQVYYY\\[]]WWXXU\[WTVTXUY\Z_``[VWYZZY[ZVXZ`b^WUSUVONSUac\QVVW^b]YWUTW\YYYYZXVTVVTTKWNU[ZTWVYW[ZXTTVRTWWWZ\\VVXUYXVVXUXPNPRLONSY\VUUUXTRXUUXVWTZ\WQTWXTRVYVVUUYWUPOSUTPMPTVUXVOMRUXVZ]\WXQSYVUT\\VTTUWYUOJUUVWYTXXWWUWUTQTVUUSXWRPRSTWTUVVXXWWSTRNLRQOJKSSVRRVTPVWWRMTVUTVWRVUUWZXUTV[djbXPU[ZTQTVVVTUTTXWUTOUP][WTQJMMHELQULQY^VRRWXXWVOLMMNLMOTX_YJ=JPIGLQQSWRLR[`]VONROJOOW[YVYUKLJILJJOLFNOSXRMRQOJMPQNNPMMMLNNJKHEGRVQGJQQPMUXUPNLJMOIMQNKKJLOSSSVWROLORPF=CMOOOLJLKV\XNKNKONIOWWJLTQNOTWWSRRKQcrupdY\]]ZUSPPJHKMQRQSRONHKRWMIHILOFGTXW[ZVSR[YPSXYSQT]^^WVOQSOMH=9@LNPNSUURMILSRPMUQIPRXXWWUPRNOUXUQONKSWUG@JVYXPHORRQOSTRNOQNJJQONPIKKOUSMKRNKFHRUQGTTXXTNHOY\TZ^\UOMROMNMJLHFBJQTPEKJRTXWVPFGFMRHDQROFRWWKKQU\_^_]QPPOGLNPV`c]]TIIGMSQLNNNPVRNMNNJLMNKNUVSX]VMEJUUTTSLNEDNLECLWVWRPPKKSUZRJKUVVWQOHFDKQQOPVQMRTRNPUQVWSQTOOJG=ELHFLUQR]_[VPQUUKIIQOVZYUV[^]UNJOVSQUSR]a^_ZZ]aYXRPOXb_TW[_eeTMSOU_]ZRJ@4DTWQFHUTTQSWPGU__XSLFLOSZ]SHLPFDFIOKIIPUW]\YVY[YXYTPLJTXRSROU`aYJR``^]\WQSVPDOUURNQPMJV]XSOPY\WXXYWZ[WWTQTVSVYXSMSUTRPPSVTTVQOJKLOQPVYZWTURWWVUSURPS[]VPRRQQQTSLJRX^\WPSTWWQKLUSRSVVTQKNUUWWXYROOP@AJNOKITY\YUVZYXXQQQPPJOMJPX\ZVOGNVZ\[VZRNKORQRUUMNX^\[XXRNGKNROLUU[XVPVXW^_ZWVTWXV[XRRQSX\[WWYYY`YPJMEJX_]Z^_XKMRRTKIJROW]Z\UISWU\aUSY]bdfgcedaXaPKNTgiX@IVIUUTelk_SW^V^hfaV[\\[Z[U]baaccXWWWZ^[XTNLSW^^ZXZ][WWWZ\[[ZZWWVZVWXUUXTWSPW\[WW[YW[ZXZWXWSSY^]ZVWROPOSVYad^XX\WWTYSYWSVXWV[ZVXXSQUSVVZSWUVVWRVZZ[ZUSPRQVURT\]YZWSRUYXYUNOMKSXTSSTVZTTYSUWYVYTUYTXZ^VVUWVOMXZXWTWRSQNPQOMRXV[YXXWUXWURVUPOVQOVWUTRUXVXRMTXXSW]^WY]TOPQQVXUVVZ[ZTTTSTPRUXRVUTTWWPMTXWNPQQKTXZ\USRSSTRPQQNNVSTZ\UUOLPUSUWRT_aaZTX^^]\WUUSQSWUWVYWSSQ[UONKRSMCAV\VTYZYSU[\\WUMHLOQPMNVXUVRJPRUPOOSVXTPW^_ZWPJKLNNHPTXWZZUPOONMHMNMUUXVQNPQOKKLRNQSQQROIIGJIOOQPPPLMKHINQNONLFIKHFIHPUOEGMPNUPQHAMSVSKEDKPUWTPJPXTJEEMMMLOQUUTQRRTQSRTV[VXk|‡ˆ}h\`a_WNILNSTVSRNKJPUVSUSOHGQRO?CNPNSVUTUZZNGVZRCNX[USSOMKHLIF>=JONLMVXVRPORPNSQLNNOSWRSRPRMKNOSNKKPTUSQJLSTUUKLNSTOOPRSTOB@BKSTPHKRRURKJQRMC@HKRTXYIJPSLCAJQMNZZTKMRMPLHNPQOLPW\VSROKLSTWWTRKPPOIMVVTVYXVTPRV\_a`YSTOGHPSPY]`_]SNQMQQQQMKKKRVTUTKGKG<>QSVWXSROHRXWVQMNIIMVWPMR\`^ZUHHKLOQAEJQQQRONJADQRSRPNMQVRJJKGJQLUXSRTOJJPO>BONNLPRRTOONOTXQ@ADKMN[]WNMPPRSTTOQVVTVSPYV^]XUTW^YMSZ]dbXIMRMJVTDMTIEf\RRQOKIGORS^hh`SFELRT[caTPOY\TOJEBCOUVRQNMT[]``_ZY\\][YSLT_ca\_figihaUVXQNPQUSKOWQKS\ZPJJ\ff``\]_ZZ\\WPSTXXUPQPT]\\^fc^^\ZVPQTTXWY_[TOMFKPVVSSQCLWWNMQSWZXVUNIIJJTVQPVVPKOTZ\UTPMFCDKUXULMUPHPPHGOW[WTZ\YTRVW\Z[WNJIPTQDBKPTUPHIQSURWRSZVNUXVRQQLHTYXZ]^]UNPROJHLUZ^VKPLHRRUYYTSXXZZQPXYWSRX\]ZV\[RHKUQY[TX`]ZXVQJIXZY_XV[WTUSFJPbaVMZVL9I][[_U\gmYM@S^W)09G^kf]WVVVYVV_df`YTSV`aie`bb[RNPX[[[ZSPSXVZZX\[XWVSY]YWXVX\YXRX\ZYXYTVUTVUX]\[UZ]Z^ZTSTWXUTUXSNYLUVY\]XWUX\YPUZVXTUSRWVXVWVYXXXWVYVUWUVUVZabZVRTSRUVOKUWX]]ZUUVZWWRQPXYTXVVYVUSMPUWXZ[XZY_^UYTVYUSUXWXYYYUVSVVURKVYTPXWVWXVVXZXVSVXSMKLMPSQRRRRXXWSQNWYYbb\YVPTMVSTSUWYVWY\WXTWPVXXWWXUQMRPLSVNKQMMOPPSWZVUUTVSMRSTSUUTZZUQILLTIUTWTY[`c^YUV^_^VSRTQPRVTXXWKLTOLJKOQMONTWZ]YYQPQQY^^\YWRSUTQMPNNPPHENRSLOY\YKM[`_[[XNAELTRPMMKKMNOOJIHNOMLPNNSXZYSPOVZ\]WVPTVRMLNHHLROKPWSHMPSQRORWPHHMLMNQSYWIKSURLPQPPSVVMI@CKRRSOOJJOQQLJHGFINOPVWSURNMRUQRUXU]s…‹ƒmY\]]YXHNY]]SKNPFAJRPOMLMOTXWQJQWTURSSTUZYPKV[WHBPX[[_VPGGIHFEDMQKBMZb^SKLNQQVRQPPSYWPNPTJHKDFGCBJNSSPLQPNMQSQKOTTTSPMLPRPIABIQSSOOQUVTMEEJHDLOMPTUYHLRRJE?=FLPYWUUPGIMOORQNRX^\VRUTSVQORRRRSTRNE@LVUSOTXRNPQMPVZ[\][LHX[RGMU\[T[ZTROTTPMIDJNUXYHALMJ;IMPSRRTSJRXXROONWZY[Z[TQ[`\XNLJSTRLIWa\HHOMM@RU\afWKWXH2L[_NSSaZOQ\]SSW]a`XVPLS[`]\_`YUUTWVU^\XTXTNTUZ_`]YTQTUUYY_`\^SWV]\UVUXYYUVW_bcXVTSZa[WV\\]WWRXYVYYXWX[ZXXUWUVYXZZXWUSTXXUY\`NRVYRQQSSSTZY[YYWYSUTRTV[VNUUUWZSPW^_VTTVPLU[]\\VUTNMQTVYWYYWU^_ZXVWXVSOQYZ^URVWYYXYSRV\USSXUKNWYYXWVUVWTUTOKMORVTQRT[ZVWUTWTWVUVVSMOTVUWUVXNSUW[ZUXRUXYWVUSONOWURUOPSQKLPTVWY\WVUWVSRPRRTSRVVSPQTSPPUSTSVX^a]SVPUW[ZTTQSRSTUUZZWQRMJTW[XYSPQSTXWVSSUVTS[ZVX[RLLMOMKLRVSE:CLNHLRTOIOZ^[]][RJGIORKIJGHOSOIKECFJKHKFHSXY[WMHUWVTUTPPLHRXTOKKLIKQPONLRNNTUUUVSVUSSSQQYXTJMRNDGLNQQWVNFB>ENPLJEGGMKPUOKHKPMLDHNMG>HSWTPSQPQSnxp[OOWX`c_STTOB@KMNNGBDHJHMOXXYVPOSQRRMTUQVUNLSUSMJFRZ_^\UNDEGHMOMHCCO\b]VMLMKLNUYXPMXYXPPWYUOMNLHIKGMQNMGAGKOUUQRVWTLCHMJILKKIEJJOONNLJJIEJMLFKSWTKKNQNNJMOJHOKA@FOUXVNTWLHC?HRRQNPUVUWULRYSFHHLQOU\^`SGMS^aZNPQ]WOUSVWORSIDHGNRNMUXSRUYTRLJRVVQNYca\VUZ^^VLGOUWUW[^WXbmqnhb`a[XV^^\Z^WY]ZUYWV[cfbXTYYVTTPSQW][\_`b`]TNOV[]ZSU`a\[VXURPKKUZXRUVZZZWVSOLLFJTURJNTLKSXXWWNKKKU\[SRUXTPRSSY`\TQMLQQU][[ZUVYZUQZ[VUVLCLVVRRQQVYVQVSJKOQRUURSZ^^\WSURSWXTLLOUVVVNUWW\`\OMMSYRPVVRPMJIOKGLOPVYYYYYX^a^]Z^^\VRHBJGMY]WPTPU`\RMIO[]TV`]TQVUPU^YWKU^^MXaTHS`cZKTALR:Ejk\S_dcd]YcbY_b_XTVWXW\\XWOV\\[]]U[[Z_UWKUTQXYTUVTUWXUUQMWUXXX]TUWUVTTWV\VVXLT\b_\WVSSX^[VWWbc^VVQXTUWVW\YXVXXVYWWY__YVYSVUWYXXVVUQRVVRQNLRWVSTPNSXXVYTT\b_YVQXRUYXY`]WT\YYYX[]\[XWSLYQVXURWYXSXUWWULRVRPYV_bZSUVXPOPVWWWTYSYWKUNTWUTWWUYU\\]XVX[]VPRW]ZWWSSSMNRTWTVTQPPUVZZYWWXVYYXPPQWUVRSOJVKLSRUUXTRPONMUWVTSWTVVVPTRUTTOQTVVUWSORUTUXad_\XUSRPSRWURUUTSWVVSYTQQRWXZXRSPVXVTSRTSRTUT[YUTTQMQUWSOROLJE>?GAFMQSSQOTWRVWSUQJLMQNMJGOW]VLLHAJJMQMMQRLLTWGFLQQUSNUYSLPXVTTSK;BCEONPNMRVUQU[XVRPURJPY\VKKUWQNOQOMNNLDADEPSLHFDKNONQLFKQVXVOFDCIQNRTRNGHIMMN[bc[OJMUX[\XRNHIEFOPPKNSQFE?HT[_^SGGJUQNX\[XVOQTTRUTQISZYWVTKQMINSSLJNSY\][XSOMJHHOPRUXVPSTTSROKOLJMNOW[ZTLKOKDNSNNPQQD9CJKGEDMQTNCCQRSKJLNOWXOHGOUSHDCEIPKKNOKCKRN?DJLKRYVUX`fid^\[ZWNOUSL;@EKOMKIKPXWPNS[YSKT[YVQRNGIMQW[\_bi^RSMKFJTTSPRPJIKPJKKHFGLOOOKTZYUSMK[_`[SPRYULEBNUY]\ROMNRPQOQOPSV[\URRIHMOIHLNMFECDIMQWUUONPKJLMNNPUWUMNVYUQPRKHLLOVUSVVQRPMQZYOLPQKFJKKOVSMLRTKEDAJPMMCR\a`^_\]]RDD@FPGEL\`TGKOVY]]LL_WRSUVPNPLLINSOE=AFGJMLGFIJMJOPQT[[\VKLTWVQHLTSVSOT]^bgljbWbd`[\Y__e`QTZVJLPPRTVSRUXZYTMQPSX\\_^\Z[ZRFCO]a^[WY\ZZYTUWUPPTULKRPTUTUTPLMQRTUOIDNNNPV[YYXVXQILW[X\XTPNQTSVVRSSMJNRW]^\ZZTVZUY\[YZ\ZZXVPJPSMU^_\^^VJMQTYX[[[XWWROPRSWVQINWTLQRT\^TU\^WPMTTOLT\[VRQHHLQ]^YYWZY\SMRXWRVZTUUUSDMUSVUNNYZTZ\X\TQWVNEKSSW\ec_da^SY\WNW]TMUdgXUZTVY>3W[Rfhgifg`UX\WSPSTXTPRW]Z[]T[]VWVSUVYa[QVTQWXUXVXVXWX[YUX\[XXUVVYROOXVWUYWXRLWZZWV\^UXWZac[VX[XUWSTWWVUPVZUSWWVXXVZ[^XUYXVXVUYUKTXSRTWXTPKNRURTTRUUWXWVXYb_\XUQTYVUZ\YYVVWWWYVUY]ZVXVPQPNPTRQSQOUTWWYUYYYVU^`ZUUYVQYVVX]]XVXVXNXPW\ULRYXVSYZ^_\ZWWNSXY[XTXTUNLJMUYWXVVSRSTWV[]ZRTUUTVVROUUNRSTOJKMPQVYWWRLNT[XOUSRWVSSQQWTVTXVRUVWX[XTTST_hicXUVSRROUSSW[YSRTWXVXXTNSTXSVXWVRYYTUTQSPUUV\``^\YXUWVQVYZYVTKILLPTOHQSTSQJHQUX[^WQQUOHHQY\VRUUVRPUVYWWTLNSTPORRPOMMVZYTTSMLLPNIEEMOQTRNNVWURTYTOPSOEKW^WIISVTRRMORUVTORSMJRTNLQQPIKMJNSUSQWTMIOTXSTRMOKIHPLPX_c]QSSUVUXMGHKPIAHKJHQ[[SJLOY]`^XJEJLTT\a[[TRSVVWUVMKNRSUVRVYRGJKFDCLURONQKMQPNLFKUVUVVOOVYVUROGKMTYYZXVSQUWTJLMJMRSNA8;IMNNPTXZ[QHJOOHHRONRVPNRPLJEBCEFLQLNQMHKSMNNLKSQQXVY`ab_]^[YXRPQWTNILSQMLIENRTMITWURVYZ[SQRTRRPRMPTYahgd[RNMPSVRY]^YRMKLIJLINKCGKTVVMFEKOVVUUTRWVLMPMRVUXTQTSPQTRTQHLOSWYPPQRMLQHDEORORRQOOPMQURRRTTWNRY]]XYRNWYYIJPRNMKGLPSVTPYZU]a]VSUROPQNDGPWZTNOIISYYVURRNSUYVZ^[ZWYULOPB5G[bXHKTZZZXKGTXUQURPPPRPLLQPMFJXWMMNKGHLJBINRUVVZ\TOSVVNHGNUVWORWXX[\`VS[_Z[YXY^]ZTX\]Z[_^RPQPQXVQPQNRRPPNMQRMGSXWSKLRSLLRWURLOTSONPNRNNPTNJLNSQJBCHNRQF?HSXXYSTVSJPQMFRY^YYXSVSRTTRMORZ\USTSTRFITSTUV\]XROQYUROOLPUUSXYVVXRHLPORWX[XRNSRQPTXVVNHP[[XZ]YZWUSPTWUPMVTJMUYTVSNQTVX^[XSOQTQIMPOKLNPNQTQDMZZUYYcg]TVTY\XONPORHCTW^ccccfe`ZSOU_aYPVS]U[lm`WMGOa]bSNU]bVBUKZ_V]bZUNUUVTXUYc^QMWSMSSXWLKTSUVRUXYXZVU\WQVZ\\YXUVYTTTXTRUWUXRTX[VVW[]ZVUW\cbXXPLQUUSOTUWWUWUTZ]\VYURXZ\^YZa_[Y^ZTTUOSWWTTRPUXXUTTXVZYWUVV\[ZXUVUYRRWUVWXYTWY[VXVYXTSSSSRSQLPQQYNTXWYYXYUXXXZ_^WVZVYUUYWXYWUWWWWYW]_]XYVSVTOOTYWYNNKKQW\TWSXWSRTTSYYWUUTPUWUWTYUVVSWWWYWSWTWUU\YRKPTUTUVTQNXWZYOQPRXTWWVSTUVSXVXPWQTYYWSSWX_^]XTTU[[WLPW_]XSQQWWSUWQJJORKTW]_[SPUTQNLMOTRS[`a_[UTYXSQ[[XXYVRPSPRRG>KKKMNJMMOPZ_^\]YNGORRTTQORYWZXXW]]WMJNOOORRUVPU[YTLOTVJHMQLFLPQRNRRUZa`VNSYOPPEBBPUQHJLHLTUOJMSSUSSWRJMUWURUUPRLDKTVTTONLPSWVQTKDLSSQUX^]_[[_VPOSXTOSVUTIAIPORVSSNOSVY]YVVPCCEQYYQLOOFHQWWRPPRTY[UPUYQJJDDLINVTQPTRRSTOLKT[[XXZSMJPTQQJIEIPVXWQNLS[YQIMRRXVUTQSRUTOLQOMOSRPIHEDKOPKQTPJIIMSQG>KOQOJILHEPWURPGDGEDGNTX[RRR[Z^]XQPSUQOJMNMOOLLQOIBKPPU\]USMPSSSOUTNLPSU[`a\^`_XXSPSZVNTOIKNUXROPOPRXYVOLKAFONMSUUVSIHRXSRNUWQUTSNRVRK9AMPMOLLURPMNMCISXTRQOJNUUSRJCMQYXPMPRST[XOQZRIKRPSWTKHSQOECRX\cd`\YRJMROIGGMUWWTPRSRSVY\bd`OOOHX^\[VVTPOKPWJNABTZ[QUXWUOYZ^XYUOXXSPLLKQULOX]UHKMKJQNIEJKYYS[``ZRRVVQQTVZXV[YXXY_bTLTPRWTNU[^ZW[W]_]^]XXTRSUWTRUUZXSMCIWZXTWV[VHIRRIGTZXSRQVQGBKRRPSSPFFNY[WNFBGMPOJJQTXZ[UWYVWVTMKQ\_[UOQNLLOUZXRKOWSXYXTONSUWRMNV[ZXNJMPQRQRUYVQ[^XKFIOQQN[_UQQNNKNRPNSSRNMRYVTUVSNOUVNJLJFOWURROMTTQLS[VTPUYWSQSVTRQPMMKMSTWWUS\^][]ef_PORPONQRLR_\YJHSXZ\]WY]]WSXYUQUG@VO[kocXQJiqqaY:4;FE>Errvj\\XVVRJUXNSVea\ZYUOTWXVLT^d][WTUWZWVW]YUWXW\_VYY\UTTVTSPXVVTW__a]X]`\SYUUX^a[WTYMOTXUYXYZWYVUXZYZYTVV^]YXZ\UX^]YUYZYROXXSVUWVVYWWYUVWVVUVWWYUUXURUYXTVU[VY\ZWUYXUTTWYVYXXT[]WPNRTSNQVUVUUVXXZW[^`\XQNTYXVXWWUYY\\ZYUUYSUXWVSUUTPUXTPW^d`^[YTTRVVUXXUVRXXTVSVXUXUV[YVVTUWZ\TUYTQTXVNMRSWSMOITUPTVTWTSYZYXYWWTWVTLWNSRWVTWUSVVVUTRX]XQS\]VVSTVUWWSWQMKVMLRXWUXWTTMJGGQSXYVZ[ZZWJJTZ[YXSUOMNQTUVX[PFJQMKKLMHAFMNPVXPDEQROMLQPOVYZWQLSZZNHLOPQPPQTOMQPJDEQUVQRSQMHIQQLKKPY]]VPRVXRPLMOPRKILPOSWWPLHELOMJKQMUZZZTY^\\SJKNPPNSTUQLIGGINPKOQSVWVNQRQ^`PLSV`^[Y_[UPHGQSTSSTSTSILOPQXTA>IMRRHANQIAOYYUURNORYZVTXQIHFOTRSYQKQSPMNNMKQSUQQZZWRQXTMKQICDJLNSWVOUXTMHNRRVRPKNQPTRHLNLKOQRVTLIQSSPSOOJFA8@QUPFJPVUHPRXYYSMGMQMFDJQPQSVTSUSVTQPNNLMRSUQPMONOSQKFGORMTXUNQZ\SQNSVNRWZXWVTOXeig^WNIKMKLNMLNTWYXTSUWYROGKQRQUTRW[YRPKKNUTMJMPMJTSLLOTTNLTTQQT[]ZVTRQKKWUVSRNGKRUSLJGPUXSEMNNLR\YMU^\WNPQTY\QSYVMGGMUVSUOUPIJRSMEJIOTUPJGQRPPNUVV^a[RJNMS[ccUL[YUN`aP0>RVNSIH>AJPJMUV[POXZSQSSPTWUPTWXOJLPXZZUPPSTXRUca[XY[ZZXUUWWYZ[[adeaRQNEDIJGLVZULNX]^^YRW[][[XXUQTV^^ZTV[___^UTYZUQRTRKPYYYUSTUMLKQPIIPRKFMUWLJFJKQVTJJQY[[VROTV[]VMOSWYQFOVRJAFNTYSNIDFSYXWQLRTVUQQVTVYUNNVWXSNQXXW[_^VNGKZ[V`c^ZWROPVXVX[XNNKOMJKNOLBO\_XPQMJMVUMXXXXVQJEIKORUUOLTVRSWYVSVSOQZ[\WLKLSTSORMFMMLFAKTPLW^[UHEIMXUUUY`XW_c]ejbB@JGI?TfXHXiYNXN%-8;AJexdKWYTR``RTRWPS__]]_[[]WTUVT_cc^\UTRTSWWWYUY]WVV[_[WSYYY[VTTVUWZ[^ba][`\UW\`^Z\VYNVNQXY]]]WVVWWWXWXXXUYWVXYWY\ZXUZYUZ^[YUUTQOMOSWYWVTYUUWTOOSSQVVYWSXSUWXWVYVYWUTVU[]XTSSVYXWW^c`YUXVUTWTYWTVYWXUTUWVUVVXWXTUX[XUY\^^ZVWPURNTYUVSRNORYYPMW^cc_[UTOVZ\XUURRRTTPMQPRPOT^`YXXWT[_^XXUJTWWURURWWWRJMNLOQQURWRRSY][VVY\YRTSSRNTUVUV_ig[SLSWYTTWVMLMTVRUQTQLHJTIIQUFRVRMIQOHIPRWZ]^]XOEDKPVPHRXUPQNV[Z]]UKNSUWRNLMNRQSXTOIJNFKV[SSTRMLSI;ADLKCFMLQ[YSTY[MRSHITWWSMLQSJINVVIIOTSTWTKLROC;CHEFKLQWXXVPWVOX]]\YHISS[cgWMMUUZWY6AJMWYYVWNNWYTTTOUUUTQQWPKQTY_`^]Y[[ZSL[ebWQQUV[]ZY[`fda_efbZMOTPMRTVY[]SDFNVZ`^YUV[debc]WQSY]ZYZ\YYYZVUXWYYWYQKHKPWYZWOOUXWMHCJMGEJQTQKDHGIUUTTZXX[XOJMRSUQJLS[[TEHNMLLLPPNRQMEJMOTYXTKLLRRTWWTWQJJQSSTSMNNMORW\`_WWWXZ[SQOJHMYZY[_YOFGLON]YQOKVce^W[\XVZZRNSZXVVSNPKJOSUPR[ZLGW[XUU[UOT^`^VMFJSSRTVTOOMOOOZ\QSSQNHTQX^]a\^gebjjcadaSNB>>IPTUQSZXTVMILNJ=:PgNXd`LUUTTRUYUWVVUagb^W\YTTXTVWY\ZVUWVVPUX[\ZXWYTWWUWX\]ZVWWVVWXUUXXWWXUW[^b]ZYVUTPRUWZY]ZYMOY]^XVZXZZUVUTVVY`^^\TXWXZYXWUVXYMMVTWUNMYYVVRLTXVQRUWWTRUY[UOKQSTVXWSTZ_ZYVQQRSXUUWYTXYWSUNYZZYQRYUWWYUTRQV\YXTVXXVUSYZXWXYQXXXSVUQRVXVQY\[UWUUYYVTRLPWVTUYVWRJLPRRTWXQUcf^WVXTX\]]XVUPTXSVSMQVVVTLNNSUXVYVSNNVUWOUXVTVVWUMRSUSQL]quo]TSVUTUUVSSRVURQQPPQSPNWTVPWROHMRURSQKEMUY]]YNJLHEJFK[a[RKOUYZUSOQQOPSTVUYWYWSPBBQUSGESZURWRHKSRFEIRVSV[YUIEPW[XOUURQLHR[WMMSXVWK?FNROOLHUYTQWSMFXab]XVTLQVWLCAMUSMVUPLRVNGPWVJHPVTQPTVWRSSOKHAENRPKSQICT_cgdZQQLLQU]adbbdbVLG>?MSUVVURDALNLLKNMKSYZVRKOQJPTRTYUIKMOQIJJNNPPPU[\URUTWTHHOQMRX]\TPYXTUWRIFGHISYZSOOFGEJILHLUVNOTY[WPQTPLGJMNRPKOKAFLQVVRJGTZ[YXVYUKKPUQEHGKSUNNRWUMKRSUVY\^^ZVOINFEIKLINVXX]XNGIJOPKLQWYZXQIDBIQSPOMOVUODGFNVWTXSPRQRX[[PGEGLLJVZXSPVYTKRXXP;=KRX]YMFGFHLTXUUQNQNKGGJSWUPRSNSWYXQFKPPOOK@>IRQJECAFPUSJEIGJIMSTOKTURLKKKRTMGLLMMY\_\TSMGGNVULLOMPS^b\VSOJONKHEDGMP[[ZW[^WW_XO^[Q[bZ[ZRB?O_ae\WWXRMOQRUUXUQR\ZPOVUSSNJFGJW[XSUWV[_`\RZa^TPRKGEPTQT^a^Z^^_YNKNRNGLVUZ\\YWUTW[`_VPNU]``[WNMSVY_^\Y__WKPUY[ZVVQQPLGDDIMVTPTXTSRVUTOMOUQNNMIMSXZUXZWW]]YOJQPRLKMSVYVQKORRNRURJLQSTUVX`\Z[WITWWZYZXVRJHMVVXSMNQOMLKQ\_YUQMPOOJKIMPSVY^[UUUSNT]c_XTU\deYMTWYX[VTRMSXQPQMKNTUTSKMPM:@NURLPQPOV[ZUTVVQSLOSTTPNKVZZ[WQRWWQKJNRX\R@GUXY_fZONECQNJMVTO=+COQRPTFPV\cYEA3mmeKVOOTVS]\[ZUSRU[ZZ]]XSW[VUXXXXUTUQQU^]b]TWXXXXZX[U[ZUUWVPQVRWUX]XTTWWXYVW]\XUTKQZ[VY]YXVTUVVYZY\ZUYTQRWX[ZTZUSSVXXZWUUYSOVXUPVPW[YYXWWYXTWLLXZX[YZYURTXYXUYZ]d_[YUSWVXXURSUSTSVTLMUXVQKXNTTUVXMXMSXUWWSWXVYOOUUXZUNU\__]\ZWYYONSTYXZWWUUWSQTWUUTSUUWURNSSSPXXNTce`TUVWTSXSSNOVURNQUSJJPSQLKLMRTWYZUSRRUTTUTQTUXSTSUWVTTQWjrmbUUVQWZ]^[UTSPRTRSSRXWWSMNS\\TPNQXSRZVUZ^\[VUSONNOMGEJS\WLIQSXWYTPHJOQRUUVSWTPQNITWXTPUWXUXXQJHVZTIHPVSTWTGDHOQZYWYUSNHGLVULOV[^]ZNNVXUQNHQXSSYWQKKMTZWUPGKWYTOJQTJGHKF@IOJMPPOTKHPOPTNTWTMTSPMJJSYXTNLC@T\Z]YTTNOZ\Y_aYQ[`^PECGKOQTTRNIGHJIMJLRSWWYXQJNJHIKMNOE@FU[[VSOKTWWOQY\UHJVXVQPWXVORXYUT]^WSKLF@FNRW[YRIADEKKILMOVTORUSX]\XTNKPQPNLMIILNLKNQRUSSTXXYVY[YVPNROOOQKQWTLNONMLLRX][Y]XSQLNSSRLLORVUOOW[RKFAITQBKV\\[VJEHNWVTSSSZ\WSONPWUSNMFIJSUVNOGGTXVIKQPVX[\WURXZSJFKMVYXPIHHHGKUTQNNLKKRYXQQNOTRTRQQMSPKKOTTUOBPXXRPKNRSRRQPOLLLPSSLLUYTLMJLJINRRRPIOUYWTSQJKHMNGKNNPQW``[XSQQNGHBAJSPOVTVWTVUTZ`b\\_\VOQVR@IT_bYEOMGFHPTSUUY[W[ZH;EOSRTMNRMOYXLDOV^cfa\[]YWNPTTIIPMQZa]ZYYXZSMNWTTY]WXY^`cc\\^cc`YRSRTZWUSSVX[afb\]_[WUX^`^TPPMOIIIFKRQTSX[YPTZ^XUW^^YLKOMLRVX\`^XVYYQKMMLIIMXZVWXWT[ZWXZ\\VUTQPT[adb[]WTXXSSTVY[ZVPFOMOLQX\SPMKIMVXROOQNISSX^[VTW[\VXVVWTXZYQRU\``UJIPTYWTXVKQRTTVPLMTPMJEGRVOJPXWUZRKR\c]QOROQRQLKGQVTWY^YRQPSW^[SMPVX\[V^]_YPILPNHIU^UPQVTXICV`YVT?[bqrjeUD1u_POT[VNHUV]YVLURSTRKOOXZW]WWXYYWZWUVX_^YXXXXXUTY^[WXYUWXUTUXWWY__ZZ]ZSU[ZafbYUVPRYXWVY\][XZTTUWUYWYRUUYX]ZSUUWVYW]\ZVKYSSSKMVQKMWVZYXX[]_^\ZUYZWVYTUYWUTSSSYXY_df_ZTYUNVUTUWTWYVUVXWYUSVRNVVXQXVSTWYXSUQSVWYYSSTVX_]XYX^`\ZXUXYYXTVTYYWSUQORSRUUWUWUZWXXWXTMNSTSSZ]\UVUUSNVXRJKT[WVSXWUWLMOTOJNJORUSVVKNRUXSLMSWSUTSTUVOQRWbhe^XUSSTVVWVTRJISWVTSTWWXSPUY^YTSNQRMRSWbdbZZ]XPBJRRQGKLPONKILV[\[TH=FQUXVNHPXSWVOMOSOOKILLPSTPOSULHFMSNFKICFIJMW[XZZWOHINQQGHPVY_^[PRRUSPJQVSQROKIILRVVQKHNWUMIGMNMNONSRRRNNQLHQVRRXYYUQQOHNVSPOPWU[YWNFC=JY[WRGOMV`]WTUTKMPMEFJONLJPWYSPHKHHNOSRQNONLLLOSRLMOMKNOPT^ZUTQKRWTRKPSNLKSTRNOZ[WTV[XRTMMQUVWSHIQTRT[\WKEEIMPMLKNMINOJNV\WXVY[XRKKPLJNTRKGACJNPSTTSSVYVLEJPRNOPM[YWOOMQSMNPQUTPUTSMLLRUTTRRVVVODFGIFLLPUMFDLUVTSRMSUTSWYRSUUTNJLQUTSPQJCDNRKMPKRY_b`VTOPYZVTQRRUMKMLGNVUTTQOPTQUPFEGHMNPTSPNPRQMOPIHJQTQQSWY[UNOVVTQNNUYZWUSNPRVYX\XQOUQMOSNJILPQMLKILNLKONHFIOPJPONNMRYY[YWSFBAGNQYWOKOOQRIAQKN[a`[YX][\ZXX]UAJMW\]TXYZYYVRX_ZWTQIKSWSGIQPNGMTMFIOXZbd]V\a^]UUXUKHJRceaZ]^baZSYYXV[VRVVRU_b_[_[][XWROU]]UUZ[UW\^ZRVX[TSNPZYVPY\WTROMTYUJBHXYUPOPQMQSZZTGGPWY]`]`_[SRQJJOMFGDJQPOTXV\_`ZTRTTSSPF=L]_^XY\\^^VFHJNQYZYXUTTOLT_`]SOPPKOTTNJLLMNNRZZVTV[WWUYWZZWTSPONT[[QIKRWRV[^ZSWXOX\RKOMMHMJIRX]\XPSZVNMRY]ZRSWSWUQPLNRTSX[WSPSRKT\`ZTWWUUOKRY]_[SJT[``bbc`W@JSLXVZdfcPWXjfbP:#!gTKT_f`]RPZ_bWKQVUPTUSTW[\^ZXUVVY`^WY^VRMXU\\VTWa[TUX[^\USWUWZVUWZ^^VNNV[`a\TURUV[VSSRYYWWYVZVXYYYXUWXYXZVPRXZZW]]][]_MQWTTWVYQQOPRSOTUUZ\ZZ^\[UTPNQMSSTONQTYXX`ggec^UPTXXXVVVY\XXYYULOTSNUYUVWUXWXYUUYY\ZXVXUVSMW[\YVZ\ZYVWSRTTTXXXXYXWRWTUSWVUUVWXTYUTWUUQRVXTXTV\UWSPMPRQQQNVTWYYWWTUUVRMLPUUTSWQSVRUUVUUUWRVXSNRRTUU[ZT\dda\VUXTUSQQPPMUMRUUPTSUTUHHLUTPSPKOTXVWWYUVTW[YSUWVRQVWUOOQMSVYPORN@EIOPJKILSROQUOQVQIFMRQQNOSOOMIKTWQC:EB?HOQVVVUSUTMJMLKPLOSSVVYUPRQOJHDIRTSJGGFKOMIJILPQLMOSTTMLQPPRWXXWMMLKMJLQWYTSXXXSOQPIEJRURPCFNRLNUYYOOQOTYXTTXXVG@EHMNPOLNKT[WUTRMQSWWUH=PXRX]\MBFO[\[XYVRJPWYVTPXnma0W\_YF. .@mXVfkqkgb]^`YT\[VX\\TRWTW^^]XTVUY[VYXYUVPWdeWUWVUUVXYYWWRPRPUTUX\`ZSNW\a_`^YURSW_]YWTWYUV\[Z\XZVUXWYZXWUWZ[\VSUZYUUYWUURVQX\^]UUYVSNUUUVSY[[ZXXYYRUXQPOPSWVUYW^dikieZTPUVXYVXU]\WUSSPNTUVYTW\[X[ZVWYYTUWXVUXXYWPUWYZWWXTXVQYVWVUUVWWVYXRWWVXWVWVZZXUWTYVUPQUWWWXXWYYYWXYVWUSTTVQTZUQWY\]ZSMJRW[\[YSVWWSVSVSQRSWWRNXZ\_bd`VSVWYXUWVY^__YUSVMVOVVNVUTTUMJLTUVRSQUXXZXUNSTTSQNNSXWROPVWYXVVUXXTLXYPJQTSOOQLMOLR][RSSROLQTSUSTWVXXWSRPIFPQJPYZXXSSPQHIPXXQKMTUPJMNLIMLGIIHBCLOLNICHJEGPUTSRPMKVWSHFSXRQNNKNIKMMNQSSSNHHSZYVNQOEKJJNQPGIRQKDEKNQOVTORPUMQPSPMSUTWSNKLNQWRSYZPQTOURJEB?EMKJJKKELPPQMJLNPTVOIEIHHKOWUJOUX\[SOSRMLNRVSX\VQQQRRTRQOKPMQOLMOUSMJOWROSOHLSWOJJKRWUMJNQVXWW[VNHLQRTWXTGCNTQSWZ]XQIKPNKLKABNRLIORRLMTOKKLKLQRQQTRNPPQWTI>EQTOLGKKQYTUXVRQQSRS\[VPU[]WX\`[\\WMU^YMJKLNOS^_]Z[\[VUQSTQT\\VNQVVUPNKRWXYUTWUSVZZUQILRQIKRRMKSPLMJEGGHDLWYSSWVMJOURNQPQVORUSJGHJNNXYUSSUTULKPUWWWPKKMPSQQORSTZYMKRWZYdtviZT]]WNINT\]XLJUZZVQQMUHUdeddXTPH@NNMODa\^_`_YOMADHKIQQQUPJPSKCLPI>ELLLMWfpsqj^V[\XOLONSWSKRXZXWTQOPX[WQRMQX\[^`^UTTRTSX_\\YYVUPOLLV^]YPVXKNQTSVUUONTXZUSPSUZZWRONJOYYWJIW\\WLHDDKRTVRMTTRVTQJLOQPQNTSPOOOOLOSQQSVYYTVXUTVTSSWZUQSRRUYSHLQNHQXWRNKMOJCHRUQPNOLUXWZVWUOJPUQQVSTSUXWYXTTSUXWSTPFPW\]]`_PKRRPONSXXUPUKLPXWPTXWUVVXNKSUPLTXZTVZYWSSSRQQU]]XQQLTZPZ^^STOXX^QSXXWV\_bcjiUV]dewpgZfc^K=NMR_fSWgef^a[UWQWVVUUTTPTVUOT[^YUXVWYZ]VUUUU]ebVTTSWZ^XXNPPTXYVTTUU\]XWXY^bce`[YSQW\]\VTTZ]_ba^UWX[WWZZ^]WWYVWYWMWca[SUWXOWVVVZZUWUWVXWWUTNRUVVVVZWXV[VYTVUXTVUVW]djgcZVVRUUYVWXY]][USPOUTXYURTYVWXXUVWYVVSOSTVUVUVWV[YWSXUXQTXXWXXYXUYVTPXWSLUXXTTSNRSVUUYUUWUUORVXXYYZ_c\VTWZXSMSTZWW[[ZVXQSUWYWWUWWUMPRSUPVWRQOQMR[`_WWYZUS\[YVSQVV\_]YWRWUTTSMRRSTMJNQPQNSSWURMPOTUONRWUOQYXRWSNFLRUX[Y[\\TNPRMLJTXXXTNIKPP[\PRMPM@GIGKNRTZ\XQOOOGEPQLFQVVVPMQRMGRTZTOMTTNKNRSRPKOUXSORXXSLKLONKKOSURUXRIKQLILUYYTRA=AIRWUTUWQLHGO\]XXSOLKQMJFSZXUUX_IJKKSTVXWSZYTNLPQNPVUQSSWOKPWSU\YSPRPPQLMKJTUNHNMKFGLQMJNPTQSUUOGKPONRSQGJYZTRNKJMOLLSUQWZUNQTYWPNTQOOOHLJEPSRKPOMMIKNONVTOOSRRXYSMQTXWRKFHJRUVVRNLMORTSTRVVZZSOLQPJSL@IQIFTYYURRLCAFKOTRNVVUSQOMMNCIQVSPIGNOQXUWWTTSUVPRV[ZVVZWNT]^XWUQJT]\VMKJQMGLJFS``Z^`\TOKKRVVZYWRQILQROT[XQONNT[[WRPNORRQONJMSQPSQKJNRKDLJHJSSJJPSRMSSMMHAMLNRVVVRV\XSVTVSVSQRUVVSRUVTSNJRULPWUNGKLLNUgifZ]^^VG@ALX[]XSX[[TQTWZQTb[\a[YUMOWY`YMIY\bhcYTSSN@A>JNPQUODMQIEGJMQQSVWVZdknlnme_]XTSQNPYUQZ]YUOSUTZ`b]YXRMY^a_^ZWOMFR[UUU[\YXTPOTUUX_]ZYROSUOLNRRDAIMMQOVRUY[XMTVTSSRRONPSMNSOJMOMLMLQVSUSREAGSSUWTPUWTRVYWQLOTWXWRSVPLIRSROW[UPOOIRYVSTWWLJPTOIJOQPKHIGMQRQNSVYVTYZRJIMWXVVTNT\[YWQNPKRX[ZXUWWZXVVXOMTVUVSPZ]XWTOOQSLOWWYQLR\[WYVNKV][RMLNOTSSWXTORSUYZMS^bda\XA6HVa]LAJVZ]bba`npf[PZef]@7VVN;KK@CWLUSUWYUTRZ[XZ[TTTLRV\_PVZ\XWYadc__XUTXVZXVWVNQX[\XTYPW\]\YXUUTZbb`aca`^a^UXVVYZ[YWXVVZYVYWUSUW^^[\]^_^YUXYYUZ\b`YQTWZXVWV[ZUOQSU\ZVWYUTTRSXROTWUVVTWQTVVUTTYYVXXZYZXXPNQUVYUW[\YTTUSSSRVVWYYTOPUTTY[XUUUWYTYWXSTXYYVXX][YUSRTWXW]_WSRQYUVNTZYWUUPTSUVXVOOPRSNLUW[]\VXYWOKJUVXOQVYXTWWXTRV[XUWUQPSUSXRLWVTT^]ROTXVTWUNMUY\[[\TV[UWWOSRRSVTVVUSVWYWOIVLRSWXQQUVJKPTUPOSTPJT^\OEHKHIMMSUZZ\YWPNOPOIMQSRTNJQQPXWXYUYRGIOMNILOTZYRPSTPMLPRROQQRONTSVXYVVVSOXYQJGKLLOQTUSIOXXZUMLTWQOUXYPHMMF@KNIKNQUWVNEFCGSPLOVUJEIFSabVWYUU\_[UPW^YW]WRURJKRYXRRNSTNOY]ZUPONLLUZXQURSUWVKLOIGEGOONVOKJQTPONFBEHIIUWXYZWNJOKOSRURLPQQNKNNNNTQKLFPVRLS[[QIKVVPTSILMOPMHKOPMLNPNJE:HPNPTWZ_]YMPWZRIKKPVYXJJQNKKORTQOORW]^`]WOHINNNMLNQY]^[ZVNHCAHNTQJOVTRPRLNLLLWTSNIGLKJOQUTNEJNKMW\[]ULPWTPWZY^_YQRWVPKJGEHJQJFMVTPW`aZQHENSWX\[ZWOJIQLKNQOKKKQUVUVUW[YYSQUSRRJLSTPQTSPMHIJQPKIJKQWYXUPQROLQQROORMPWSSUUPMSYXUVSUUVOIHKGHUYUOTWNQSONMGMPS^f`YVLDKE@NX[TVYZSQU[]YOYOJQUZYZhge^VINGROPHFOTQOOVVWX\XUQRTUUUSTVUSSPORZ^cfmpg\TX][PIJMNOYVLKPWVPSY[UOTSRW[]VW[VTSMTZ[UW]\XWRHJKRUQVYXURVVPKFEQVQNMKMMRUVURQRUUTTWURSVQNMOOVVRRRPONJIOSTTLIIOXWXYSRYZZPSVYVUWWZXSMUZURNLNNLRWUNPQOTZ[WWZ\\Z[ZXQIGIPPPNGJOTRTOMQNLQSNRUTXWQRSLJPPPQOQVXUYZUPPSVXYWWXXVQKPSPLUZ]TWUUZYXUUVRTTV\ZU\YRKOS[YTJGMRSUVVQOPTZaicMS]e^UMINMPQSLAHRW[\]RWelrhXU__]RPWRO7ZcXPDRRPMSYXUUaa[VTVVNLUT[\MJXVTJW_`]X[USMLY\\YWYYWXYXWLVW_c^Z`\UWV^b`]\ab^XY\WVRUUWWTWVVY[YXXUXZY[[ZXXYWV[YYWVZWWLWYWSWY^_WUV[]WUSUW\`\[ZWXTTVZVVWYXYSWXYVWWVUX\]UWV]ZVXXSRQSSW[[XTUVX[WPSVUSUVVWQMQUXWXVWNRY[WWVWTYYYWQTUYRPUTSRRMS^^VNWUXVWSWUWTVXXVY]_\WWSRRXUOYZ[[_^VTQQQUYa_YXVTQQOSUUWUWUWTLPROLNQNTWWTTSTWWVS[\YXWUT[][UUS[bb\RTSUVTRUVWUTRTTUSQPUWVU\[VMVPMWVQMQSOOTVWZUWZYUJCFKT\`ZRSVSSWXSKSW\[YTWSTWUURNUQHKVZUTSOQYXUWYYUPTXWPMJKNNKQQQSUNQVRGNQNLNOHFLPJHC@HOUWXRPKKPLJUUPFIKHHNMJJEAUWRNOMNMQLCITWTRRGH][ORUOJNW\YPMNOW_^ZVRI;JTXXY]]XPTVXUTNGJMUZ^[VRNKOUWRLLQMLGDJSXSUUTUTOMJGMRNKU[WWUWUTPLFQSOQMLVXQDHHLTZZTIIOQUUUYXLHMTRRLJHNLFGKHIHGILLSURORVSNJIKT[^][SVYQLRQSUTUNPSUK>CJSTRMPQQZYXMHEFJLJNKLUXVUVUQJFGMMNNLLPPOLRPMPRLMSPMNOQNNLLLPOICKPSVUUTTUQMOOKJIIXb_VPOGHMLJLNPRUSPNFKW^_\YWWVW[WTQTVUSQQPJNRRNPRTQLOWX\WXUPOPQOKKTUVUOJJMTUVVVUPRTOJOTRSRTVXSPMNNPRTWVRMRUNMV[WHKMORRQPLD@?PWYRWXUSXUUVQLGG[`^UPKLTVTOPLJKPTOFQ\_YONL@LZ]__qzuj\[\SOPSSWVSMMWXTZ^_]^__\XVUUURKLPOIKZfcefd\STZ`^YXTROOPPNQRVYTPXZXWWXYZYWVVVX]_]YX]Z\_WOQUQMLUXTSSXTUac_WRHKUTRRPJMPRUTNLR[_WQSSQQUQINNQ\]ZVNPWZUKLKJJLNOVWQQKJQVVMH=FLRVVWPNORU[[[YWVQNSWVOW[ZXZ]XZ\_YX\`^VMOOPQSLH@@FKIRWWYURJNRSQWZWWYTFFQPU[]XSLLMVXbc\QPOFHORRVV[\[[ZWLBHLQSSUWXTQA>LOSVXU[^ULIRRORVYSOMOQUPIGIKHIHOQRTPOOPOTX[WQQSTZ[QQOMPTSPSVMOVSIBIPSTPHF?MUUTWWMMMLJS[\Z\]ZTMMOOLHGKNW]VOOSTSPOPGGMUUHEHQNNPGFGJRSPMMNLMONSTMMQTWQGBJNQQOE@=BFMOQLKOLLMLI>CSYVWUMT\ZMPRSSMGPXRTVWRMPQONLILUWUPJEIOPKVde_NKLDHQ\\XXTOIJMGFFNRUTSVX\\ZZUSRQPPRVVSVSNKQROSSRGISWTNILPTTORPPKCFPWRQVUXPKOVRTVQBAOTQNOX\WQPORRUTVQTTQLPKKMKMQQNLLJSXZ[UPKPSVTRX`\MH@7G^ebPIbpoaYfjV6SPZ][XPPY[UXZ\SN`baZSOPVXVPOLFBT\cab\USV]__^^\\UMJPZWPPTWZa]UWVV[[TTZZ\[Z\[Y\Z\]\[UWWTQSXYTMTZYW^b`^YUQWZWTUNQVUXYUSRWYTPUVRPPIGJLJHRRMMV]]TQUVMHJOPPRSQPUYYWUPMJPROLMLOVXYYUYUQSMFMV\XXZYUUMGOROB@V`aVR[XQLSQECHHLPPNU_\[ZaWVPRUYWQWZWZT[\_`^[[X[UQNLHJOPPTRRPLGH@EQNMTVTQPTTLQYWVSTNGEHKPQIGJPQOKIKOLLORZ^YUQTRY^[RPPRTRRUUQQXXUPLFRTVROLMRQTWSOONLKNU[__^WIFJOQKHDLQ\\SMNLOSPNLDENWVJISVVSPLRURQOMLMTZ\WVUUPUWVRPRLHUYUOLMNQNSROOPQONKJEMS[YXWU\e`QOUUURR^[XY[UOFGGEEA>FSRMOKKRNLJXajjcURJKOYXPONIJLIFJMQSVTSPMQY[TMLQONQSUONRWYZ_YOJNURNPSUROORSTVOKHLOJNUUQQT[ZMIPNLNOJCLTRPU[YPPJIHJPPLHFHFC>>CMKPMIJQWRNOMLHNWZ]YSSSUNMNOFFW\^[UXWFCWfleGOYL]^RIFX]`]YZ[UNV_\[TSU[]VRLBENW]Y_a]a^[Z[_c``_WKKJV_ZWMJT_a_[WQYZXW]^b^\WYZ]ZY[bfa_[WUVUUQHPYYZZXX[^]YWX[^`\WVQUWTMRSLIPY_[VPMKMPQHIPJOWYSILONMNLINOVXUOQX[^^]Z[^`XMPSRSUWVJEPTVUNRWWVQMTOJIKRWWVOVcf^WYYOHKNPPMMKMRTWZZVRGMNRUUXVNFMPXZ[_\RDIQMMS]__^[YXZXRSUVRLSWTXWFLZ^]^[TJJIMRWYZXLMRSRZZWLMUZWXZ\WUPNLV^[TMWSOWSJX]UKSOGLQLHLSa\]daYVLL>NXVW`aYNYWji]GEKSY[WLV`cckfZXSWXXVWSRPTVMOKTUXVUSWWUWVWTORRW[\WWVX]_Y[[VXYXVUYUVZdfd\VTVUWYZWVUVTUVTXRQTVU\][UWVTZX]`^[YZ[YX[XWWZZUVRVTZ[_YQMRTQLNRWYYUUNYYYUWRPQPLQSXRNLNTWV`^XSPUWUUUSVVVYVWVVXUTXWYVYTPONSY[^UQSURQUWVWUXUUXTSUUVXUPVUUSPLVRUWWZ^^WWSRSQXVZVWXZ\XSXWQWXRMXSSUWXVQUXUSTVUSVXTSWURSWUTWVXJPSTQRTRWTSUNVY\VVXWTXVTVXTQV]`YSQKURUSORUTUWUSWVTZWRSVXVSSWX\]VLNUU[XUG8EIHN[\[QQSQPQRW]_YTPRSRQW[QKLKJOTUNIOSSTVQJKPRNMLKMSUXRNLNMKQV[ZTMPKLTVXV\XSQQPRSRPNRRRNNQQTUSWTKISUOLOTMEBBDGMMKUWQJQKLSTMHHINPRLKMNLKI^f`PMOTWSSNLLIJHMPPOTW^YX_YYWSQSV^ddeb^WSU[YUW\YZWTMHIKGKSSNNOWZTW[SPUSOPWVONMKHQUSPMGMUWVQNJPRNLKMJJNROPXUNEOTIQZYSMLIIORNMLSX[[QKQNIPLNLPSVTQPSMGDEKLOSWUOUXWQQMPNTTYVRKJHPPONLNVXTLMPONQLFPSSLDCHNV]_`[WTOMPOLQXTNMJNUQNMMIA?DLMPTQNC>MX\YTTRW^b`ZXWYWOOUUTWOGEIGIDEKHMPNJQUWVSKINT]d_^\RLPUSMOSQMLJCGPTTKNTPJNPUVKHKPQMOSSVUNKTY]_^WWWWTPLKHJLNSUVONQWVTRTUOPUWTTQLLONQNPQOJQOJIJIHMNRSKIJNWZQGJTTTUPLQZZQONQOW]ec]ZWX\RX^]RPY`ba[QGCOD=V\L_lIIGFSYZXNJNQLTUTZ[[^WPNQLIIPYXWZ`___YODEJL?AKOQPTPW]TTW[^_`ZVXX[]\YVT[XXYXUNVXRVWUU\[WRVVYZYUPRX[WQQKLVYZUPMQPRR[[`VSRS[\ZVIAGKRUTYZXMJMROJIMLITTSOQTUUWUQOW]ZWXZ^ZYZURSOMRSMHOUUTVSMRTWRMPVZTSU__XXYZVTSWXSKQ[][VWUYaYPLPMJNRRPNTac_YONSOFGPWWSOOIDKLQSVVPHFDGGHNPRY\ZTQOIFT[^VSPJKPOPTURMSZUELTSVQSVQKFLXXVSWciieZQNY]`ZPU\VQMGINO`gk`ZQ:9SYSSOV]`g^P;G^[]`^NJWag\SVTRKPM^\WWTUWSRTTXWXXXVWYXZ\ZW]gkj`^Z[ZVT\``^bebdd\VZWY\`ZUUTXXUaa\ZXXQORVW]`a^^][X\YYUVVVVYUVYXVZTYVTRXTWWUZ]ZXWPYKOTWRXXYYWRZ^]ZYZYUUSPURKXUWXUWQTUSMTUYVUUYXWXYXUXUVTU\YVSPWMUUNXYZXTPPYYTMKLPUXYUYYYVXUWXYXUUXVSSUUXURNTYV\[[YXWSWWTWU\b_[YSTVTUTUWTWXUXWYYVTXSJLONVVXSVUTTUTTMVVXTWWZYUXWWY]ZVXUVZZSUVTRUMSVVWVYUTUTVWWQIKQVSTWTWRROSVQUQITQPRSWUUSNKHIHCELSRNQWXSMRVZ]TPNLKOSRMITTY\VRTVZ^_]^^ZWQPMLOU[WMIRWWUPPVX[WRLUZYNIKQRSOOPW\\YYUPOW]SEFIMPPKMOSUUSOJPZXUQRLQ]]VOIIHCDFDAFJFGSXWQJ[ilbVTNJJJQVWSUYYWRRPU\[\[XTKFReqxuhYQSSW[_`XNEGLSTRLHELSPIFMUW[_[TPLSUMDFMTVQKR[XUVUPIMTWRRQPIJQQTOGKUXVUVOKKPNKMSZ\ZWWY__]WPJSVVONBCB>HVXURORODGNSUVQKEDFOQJ@HNSXUNNMJJKLNRVTPMMKJCGLILJJHHCOUORUUUTSJFPSX]\XSOOSRYVOUZWUZ[RGPURQSSTRPRPNPSPPQPSTQPOLLHJJEFMSVQJFLKIJIFLNRTVVXSTNINRTPPMIQVURHHLRW[\WSI=FUURTULMNRHAT[VS]XXSLQY[^ZRNQDMOSV^`]ZYKTQUbdaSCMJOW&BSVYQSUVZ[\UOS[`a]PQUXWclvymYMJIFIHMZVUXTTVONJKMKUY\VUXX]cabb\WTQXYW[^VSX]``WUXUPSPUXYXXUPRSUNXYWX___WPW]]]\XSPSYX`caVFJHCGKFJNQOQRSQRSTTTWX]]ZTQNSSUVWXWTTTTWX\[\adbRKLRYVRQQLLQXZZRPSTWPNKNPSQGDELQQRTRRUX[XUUXWSU]^^XWVSJMNMQMIMPNNQRRUVTPUTRWWTIFHKJJKMQNMPRVTOIGNXXUQRORSTPSOT_c[WSOPUUQXZYPHQLLVPGDLGNV`_\XSWXQS]b[TW]_\YY^^PPKa][[OKX`gj^QFHEWHV[EGTjgZIJQIWNHQSXXSSS^WSJSU\YUU[aaVJLWWUWXXZ_YWTUYVY_de`[\Z__[WVUUY\a_\XUY`a^__UTYWUVTYTYVXZ[[XWV[ZXZXXVSSUTUWYWYYYZTX```XUUTUROVYVV[UVSSTUUYUWYYRSQYXVOTWUWQWUZ]_`_XVYWURUSUXXSQVTWTLQXTVYVTYZUYWVRRXTOTXWVSOLRVWXXSYYXUMUNXUYUSSSVUUXTVTRSXVUWUUSUWSU[[TX\ZVVWXVTTTTSPRUU[VYZ\UUWVOOSVUUXXXUTTWX^_\WXZfqvq`UVWWTQSSIVVQTWYahh_TMLLJNTTWV]]YTUSPSWUKQVZ\\YVTQTWXUORQRPPQXYVSWTOU[YUSR[YUPTWWYVNLNMJMLNQLGMUVQNQTRLOXYURRPSUPKGMNDDNQPURQTUUOSUPKNMLPRXYXNMSRNTX[ZTJNROHLQPRWVTOLGGOROKRVUTQNQTSZ`\UNH>G]ddYTVYWPLOKKGKNMKQYZRPPRSWW\YWSPLMEELSZbc[VSOQUY[ZPLTPKJDACNVVURVWMDCMSUY^`YFCDFNMHT]]ZYYTNKNORTX\TIMPNNTTUWWSNLKKFF>KXZTOJR\^^WPIINMFEMMIQSUUURNQIDHFIMQZ]XRPQOOIBKNMQQPOOS\eaYOKHPUQNPNOPPTRMNPOTPHRILMKPOMGACLLGMPRRJEDGMTRTKHJIAFSYUKISZ]]SMNMLPQQOIFQWXWTPIIBFKLJNKNPRNLMLQTSSQQUMAKMKPTOKRSJIKQRU[ZPJNRRONKIOMKZa[MTTPQORRPMKHAJMKNNHTWRONMOOBDJKHLPSMFFIJKHGEKKWXYVQUPLSVURQNGDKRONMMJRUVURMJIRZXVRKIMPQMLLJS]`^XUWTSZ]POSNKMOFKKKNR`YURPZ[R@UP>OM,IT]XWJ>GVWTQTV\[]acZSUXZhrtjYYULORNGOTPQNLMPPMLZXTQRUXSS]`YV\VOUZ``WRWZY[VZ``XVRKPVXZZTMKRRSSWX[Y\\[XVYYWYYZXXZXZSQTYVSYVSQONOOIKPVTOIMRTVY[ZZZWSQTURYWUUTRPQXYZ[YX__`YXY^]WUQRUXVWVTOMQRRPQQUWTKMRTVZ\ZUTW[[TLSXZURZ_ZURSSQMIHPPQTSRKIGOSURPTRUUXUNKNSPKRVVXXUSPSUWSUTURQVUQVUX[WUWZWSROTXUT]_ZIENSWXOGLOP\[UYXWWXTNRQVTMS\b_VZdfd[Yce\UWCShhcaSPEFWWWOPUS=scWUORRLOMRa[URZfecXUY`aY^dfcVKNX\]\XUVZ\WSSWUQXXZX[\WT^a^YXUTVXVVZYUZ`^ccXVVUTTWWXTXW\[YVUVZ]]\a]YUTXXVWWSYXX[[Y[[VUUYTRRWY\YVYYWXPLNWYRSUWRMLWZ[YUVZVYX\_fgg`YSOOQRTXXXYYZVUUTSPRVXWXYVTQQTURQUXMWSVVUWRPRV\[Y\_[YYUYXWWZZUOORV[][YNMRYXY]^Z]XVWYVYW\]]TXWYV]_[TRLQVUOSSRWVSVWUUWYWWUTXLUXT]b^TTV]k{…o\WTVUUULMVXVTY^adbXPSXRRXVVWYYSTPKNWWSOLUWZVXVUUTVTSPPSGJOTXWPSXUPWWTROWXWTOSV[XUHHLRYYZTRMHFLPQQTWURMRX[TJINTSINWWQEGLU[XQNIKQUXRLKKQXZWWZWNOLKPUXXNJJOJGMRLHNRXULLIQVUVVPHMQVUPNKTTQNMHMYgg_SY[XQNSUQIPUUUQPSRJIQWORRRNIILKMGCNY`ZUPNNRUX[YWPLJJHNUPLNRTRTVTJFOWUPV[VORONPNTZefb^[QOQQRSV\]WQRNKNTZ\VURRMONNHEKX[ZUNOX\[YSJCJLDBMLDN\YRUXTWUPLD=DMRUQQSPQOOLMNNTZZXVUT[`YNDIOQMMMLOVVTVWSRPSVRJRPKLNSYYTHFMQMPSUSMMMKHAFNMPUSNFLSNMKOTTQOOOK@ELNOJEKSTSPPRNSQTTUTPOVVMJMLTWSMEHPLEGNORRNPVZQJJLMRWXTLPTUROOQNKNPZXY`a`WOHNNJMKCCKNQOJMPPNOJKJFIUTKF?CPPKJLJMKNFEHSXWOMQQRSSUQLIHMQKFRSROMSW\ZOOPY][YTMSUXZVUX[YXUHKYXUcdZMRUOEHJEJGNUZ^Z_bhaUGX\OZWQTZXXR>IURRTVOMQZce`[`bafnnbZVVVXVPGCGMMKNQPMLRSXYYXZZYW]_^[VRTZa_\WMJX`aYOW[_[SOV^a\VQCLRQS[^[XX[[UTVXXXVRW\_XYZZTMOQ\dcaXSSSROW[VMNRQSNWX]aZVUVSNJPXWROMLHOWUKJQKR[]gf[VWTPLMQVQKHGORVWURMOPUSLPXTVZYYYPKZ\[UW\[VMUVSQUVU\VKHKOQPPPE?FKQYYWLKTY[[TNV^^WSWXWZWXSTX\[USRZbc\[ZUQSUUVTTUSLPPSPW[XIDPX]ZQKMV[_XSSPY`^ZJ>?DDMTWaZ\``^ccTMZX]YYVikd^_ZLHSLE3I]]H'zWJJWPUb\QTYTU_fmeXVQUVT\eie^SUVY^ZXYVW\YUUVWVUVUUTXXU]c`WSRVTQONUYX^gfgh^XSWUUXXUYUWYYZVWY[\]aed[ZVUYXYYYYXVXZZTRXWWVYVW]]ZXTTWYXLSZWZYXWWXWUY[XLXZXWW\_^bdaXNNOQSQVVWWUUXXZYXYXSXYWRLLVUSQPOUXZPUVPOVUQRY[[]\WXWWWXXWZYVTTRQXWZYVMULSZUUUWTYUYWWYYUVXZXYY\dc]WTYYSUXYWVVVWSTVSWUVXWTVXZWSUTYTUVXYz‹Œ|dVW[\ZVTVZ[XUYUTYcbWWXUJRWUXTTUXURJSSTUVUVTUTW^XUPTWWPQVTPNZ^]RMNNRTSXYUWVOPUQPKMPGHHNY\VTOMHJMRTWYZ[VQKQZYPLNRSPSZ_YRSRSZXSHIQRVVTPONLQVWXYXRJLORUXWLKRUVOFQQNPSWU?FRY[[VUPHGQYYSIHLKKKKHR^jmg\UTTTSPPPILOUXWNLNPMJMSROJNSRRRUKHLSXUROPPMSUWXWOBIQUTNMKMMKHKRPPTVVQSTMOUUXZ^\acd^ZMPXZYWUSUSPWUPRSOQTPNSSRPQLRNKNQVWMIHGJOSQOSSOIQPGHSXOV]YUQSTMOKIFLSXXNJMGFMMGGQSKNOMOVVKJOSXWTRNPUTMNQQMQQOUVVXMNNUZYUPNPTSRNSRVTMICEEJTXXWUPMNNLORVVRPKKJLFDGMHMPROLNQNOPQQPHIQVXSPPPJQSRQJIIIGPUUQLNRTQNSSMGKRQKINPPOMKMNOLIHHR^ef`SKLCJQRJKOQONMJIBGKHLB@GRRLC<9?HNLNQNSRMMOKRWQHTQIJRSPJLMNIGMMQNKISWVPJMLOW_\XQQUTSTQSUOSPJIXX\Y^WVQJJC@JOQMPUUMNUPSVYVXOCKRRNLLNKKPQMFMQMUUXTPSSNTZXRHHKNGJRNMSYd]PPVRPJRXYNNRK@PVTSTXWXXZYNIMIPRY]SOQ@KRPPVQIHNPTXPOQWTJRPGAEEJBIOWXUIEEIOZehcZURS[WKMRUUUUUXXSA>JSTRUTTQTX]\YUNMWUW]\UMPZ[YSPROLLTUWROOSWZ[YWUVTQWY[[VQOQTQTVYVSQTSOIRTQNMOMMLLRSRXYWUYXSPPQNJPSSRTVV[\YVWZSNRVRPQRQMPOPKNQNTUVZXPGMGFRYWMLQVXYTNINVUPSWTVSNQPRONTXTSPPQJCPORXWSSWYWUPKB>EHKKQQOPLBAIOPLIIJVWVRPMRVTSMOV^ZVUXXSNPSTPNGLSXQJRVOCALWXRQTOPUROMOLKNWPCGIQ^_XWXWXPMLINLKNX[NGFKJNTUXTRPPQTRPNOOY[\YSNPME?GPRMJLJJDHMJNMKKFMRMHNLSY]SNODFNRPQRIJSOLPRSPKMKJLORKKTZZOLHHJFLSRPTPGHPUUPVUMMNQTNKQTV`cXPMRTZ^[RLKOPSZZQFHXc^SQ\_^YRPLOQOHRUPTWRU[XRNS]b`abb_YPSVPRTOPW[XSTTTTMPTU[YY\`dd_ZXZ\Z\]cd_ZT\`SPXYQQVY]Z[cd^TMMPX_a\RUZXVQS_da]ZX]^WURPPMJRXVSURMMRSXYTOMSN@=KUWX\]URNRUTWXSTUVVSNJMORRQMRPVWXV^^_\MCNUSPVUY\ZVV_``[XOIKQOSNFCGLNUVVLJT^^[XRMLORXWWTOPSUVYPOUVWSMGQPRMR]VMCIQQMJWXSUVKMQUXXNROPSTTY_\VPQKOQQOKJSTOWXWRPIAIONU__WSUVSTRX]^][UPMJOBE]`c_S[WXOLPVWSTNCX\`[[cbcZUNVUbdjmfT^TKMMT\bff`f`VWVXUSY[]XYVOYcf^QOTXTTOUMPSSPMVYTTbimkbZVXNKTXUVUXTWZ_`aZUWVXVUVTVYWYYWUZUSU]XTTWZVSVVVSSVUX]ZXZ_^XUWXVTZ]_]\\^b`ZYOMWXYXVWY\[VUVUVXPQZY[ZX^`YVXTKPPSWNPPRNNMQX^]YSPNQXZ\ZVXUPLZOSXVZ[WSTTTVUZZWWWYTVWVX]\XXZVYOLSYTVUUWYUUWXWWWNROPYXXWTRUVYUYUXXTVYVSNOUYWVUTTVWVUKKOWVWWVTXUXYVXU\^^`aYUQWVWXTRW[\USKWXSWTXWWTROXSYVMKSQNXZ[UXWVMKUVW[_]ZPWYTT\\\UNKKMMOORVMIKVVUOVZUPPSRVTL=NTSUTU\\XRNLHPROKOUVUSOPUVTVUQLNORQNV]\XUVUSTTPHKQRV[SPMPSSWY^ZRJPWTNFLVSNJKOLJC@A@AOV[ZXWQFEGLU]ac`]WSRNLMTPMNSXWUUVRRMINRPUWW]``a]TQQQQOZ[YRSYZWOJMPOSWYZTMIJPQVVURNOQRSPOQUXXVRQX\\YUXYRPQRLJMMOONKMLLTU[YXYWOLKJDLTYZWTVVRSSXWVLILPSVWTMNUTLRXWRWZ[^YJHQOPPMLRV[]UOTRW\]ZWWVRPGIRTQROMNSWTYXWTVXZVRUYXTSSKRTPBHIKGFCIHKNMLNMPSWUSTQPMOHFK]d]OJONOLKONMHJMLLNQSRHBFOW\YPUUMHKOVVRIRZYKAGOUURVYZMGLQPTTQT\[URPNOMQPRTSTPUWXWXRLKNPPUW[\WVVVVLMSSTN@ITSMNHGJPORRKJQMBCNRNOPPURHILLKJJMKNSPJFKRPKLV[XLHMMNOUVRQPMLOQWW[WQQOY__[_XLOUXRLNRX]WSNRSRZ[^]RGQUKGVWORZC?JJNLLLR[YY\[^VTTU_a^_ekf`\^XSVXURSX^[QWXZWVWSRMSSY_b]UQYYVRT_b[RS]`Z[`YJOY]WTW^`^ZVPRVZZSOTQQQR\_[TVVT[^YUUX[QJJQUabZPHJPWQNLRXWD5AKPQMORNHLUTY]YVX[WWVFIPSVVWUQLPRSSY\`YSXWVSNTV[a`_Y\[VUQLQMNSUPONIONMJMMPTYZVSSVVWXV[\XLJIMPOPZ[YYRLIMNQRXYYUNU\WPQTT[ZNLSNXVQPRUOOORZ]\\VONPOTWYZXWVURMSVLIILRQSPLJMRSWX\\X\]aaZHOWSP[XWX\RQJNRSSQ,9OYVT[]WVU^_XJPdnphdHNTTNWNIZYbbd^]\ZTTVX\Z[]WW[\XWUWTVXVWUTTVSRTYU\afih`VTUYZYWXUYXVWY\]UWXTY`^XYVX\ZXUYYZYXUVXXRRYVSRSWTOSXUXXX^_\[WUVWRSVVYY[ZWZTXVVW[`[UVTUQQUTXQVWUWZXWYYXWVWWTPPXVXUWWQPRU[a]ZQWVQUUZVLXUWTQPQTUXZXZVZYZYWVWUXYNPVZTQQSUZYZYUYZWWXXQQVZYWWYWPQPRWWYZXVSRSYWUUQSXYYUTPUWYXVQYKMVYVKOSXXVTSVWTTUXXXV\lmeVRPSTVWUYYYUUQONUTTTTSVQROPSVSLNQJQUWVUWOOTUSSTWWWRWXZYQUYXVQQUUVTQSRPRVSPPQVNJOMQ[_\PKSRTTVXTRQRTPTTX]\WRTVLLJIQV[[URS[ZSQRVQHAJMMLEGOSSXZUNMJNMMV_aWKGMNI@GQTPMSTVPMJFFMTZYWOORQSSPMDEORUUVVPMRYXMINXZY[\]WPHHOSY\YTT[X\ZXVQMIXZVOOICGGOSPNMSOKLPQKFHMSPPKHGLMKKIOUWUQNLUZWPVZYONSSHBHMOPLMPSTTSMLU^ZPJKGHRVZTKRPQOQSTSQKQVVWVQILRTRPQQSSYZZ\PISUSQQTXXTVPQRTOPTSQRRTSTTUUPLMQNPOTPOSQRURJFLQMOQRRRZ_UKLQPRQMUVMKRKIPRTQNRVSLSRKDOZb_RMPOOTSRVUTVPKJHKOOLGJQW\VPVYTPNPOROHGWYSNKLLKKLNOOLJIGCKNSUSHNNOSTRMNMPOOWXRTPTYWVRPR[bdb^_]VMEOX][LISPIHILNNKPRSTRHINRSQRRROLD@KLNMMI@HURIIKOTTSTXYPPTVRVSQLHCIQUSRUZWUQPR\baa_PIQSRLKGRVWMMOSVNKPVMQY[L?MPCMMMZZ[KIWY[`^]ccXRSPKPSWagjib^XLHGJHKPW\XUTWXX\Z[Z\ZYUY[VSQZZWTRZ`\Z]b^W\^\VVZ`ZPNV\^[YTSMMLKPWYTKR\aWJKPT[YUWVWTOLPSWY`^XSLRXY]`\TNMLKJNPKVZWNNQUSYXZ^_WYUPNSSRPYZUPSVVSRWSIOZ\[UMKILT[[TPTNONTVRGNR\^XUMONPSSNQSUOLOMTZ\WY]^VLSRSTSVRSWWSSTTT\YZ[\WRSVTSRRZ^ZVVYYYSRPQPNJESWQQKPXZ]]]]\UQTOPNIKKGIOVVUXKJTPEQRY^^Z^ad_UMWXRRPSZVZ_WZS=V]RITXRQTW]QJQXURJ[_cVZZLfZQJSRVTTS]_YSPXSTTNOVVWUXWWV^]WVWTUVWTVVYZVYdffdcYRPW]\ZXZYTXYX\a_VRLS[ab`_]\^`a]Z\^__[XZXTVZYYY[`_YYWZUX^ZUUZ`VWWXYWRSV^[WZONZVWWYYRPWSRVYWOPVUY]]VVVXWZYWYSNNQXXRZXRYZWVYZVZUTXSNPQTZYZWXTPTWV]ZXXVXYWUYYWZXVORVNWRZSXVRQNUWXXXMVYOWWXUPPSVYVVWYSNMOMNUTXXMUWSXTWVUXXXVRPNTYUPOTYXYXPJTTUTQVXPLZehbYXUUVY[YTVVVRUUVWWSQQWSRONLOSUQJNKSWUUSVPORSTVWRVWUY]]YSSYLVYVWZ[\][WQTWXWSMMJJOSOLRSSLJQSPLQVYOKOQPSUWXYYSTZXTPLOW^[[SRXYTMKRYQ>:EED:EMQW[ZWUNQTSPRVUQDBJMKNOTXPGOXWTOOGIPSRPNPRVVWTVUTQT]a\\[XUSY[QGLUXWWTRTVNLHINRNJOQUKFJOQSRXQJCMQRQR[YZXQM@BLMGDJRSRLGDHILHIMNVUSTRNSVTTVUSQHIMMJIKKNTUUY__\VVX[XKJLCEQVTOKKIERSPNVWSSWTTSORRTTSQQRTXTRRXYUPRPNNMRRSSVSWTPMNLIKSWY]^[WOPQPSTQKDGOPLKILQVTOKPOPIQRMLQXZZWVWWUVWRKNNMMJOTVUXULJNV[YYWUSRQNRTWUSUQNB9ITRMPXZZTQUUSMLKIKKNRUSMLLIFHPSPPUYVRKLKJKUTNQRNKONKIGIILTXQNHKPQQWYQQYYZ_ec_XJGNOQLNKLNNQUXSQQOSVROQUYWPLWREC>?CIIIJJAFMLE>@KQVYSUTOOUWUTNLKNNLPVPPSW[YQMQWV^a_VOLRVVTUQPNLFFJNGCD?Sdd]UDKJPVNGEY^SJQYY\a_c[MLKOVPBL^aeb_YWNKQLGISXTONUZ]\Z\[\YZUQSTX[\ZXSTRVYTQ[c`^b^YVY]``^TR]^UQUZWMPPTYYVOPWZQKLUUUTRVUMQORUSUQW]YOOOV[^b\USXTMFFKHPYYXRSSPRRRNSUVXZWPKKJOTQSUXSOPWRNLPU]^XXTOPWWNMLNJKOURRMPY]ZVOLPQTSUX[^[WRNU_]Z[__UJTVSUVOHKTXYV\TSXYUV[[WKJRTLJPY[XXSRQMJKLW]TNOUZVKISXZ\^[ZXWTPTTPLOOLJMVSLGHROQQV[ba^[YN=:NY\SPKV\]_gc]YPX^\\acXSZajj`OPX^jh_H8AYLV[QJWVNVVUabXNVXTTTVTRW[_WRSOZ_WTNLMPLYRVVYUWY_\X[[WWRWRRVYYTTXW[][XUWUZ]^`__]Y^a`\VWW^\^_VRQUXV\`fcZUZVYZYVQWXXYWTWU[ZWWZZWXWWWZZXZVVXYY\fe\VZZUUY^ZNMQLV[]UWYYW[ZZXRRW\ZRVYZYTUXTMSXZZ_\URLYWRVWXXZUUWVWZYUYYWUOVTWRPZXVWZROWXVZYTWOOTVWWUYVVWXYXOSVRNMSWTTUTWTPVXY[[ZYSVVSTXVTVUZZXYTUUUTXMUTUQXZ]]ZXWY[`^XTOYWSTSWUVQRQVZUVTSUZ_ZRTSUUQTW]WTRSJMSVSVUSTVXSSTTZ[ZZUX[\WOINTXXSQVWUWYYWVTWWSVUSSYUPFOVOPV[YYZWYXXTQNLKRWQQTSTVRMSTQJEGAGINMLOXY[UOQRQTYY[VPJSTJOSUUQQPWZVRTSSQSRSRSX][XRNRUNUdja[ZXVQRVTNSVTUOJMVVVTSKILPGKWVOBIOY_^XURNGDPY^cb\YYUQMMONLKTXYTKF?CLQKDJPSOODLW[WPOMOMMKKMNMORPKNQUZ^`ZYZ[[ULMKFHNPNIJOKBQUF=MVUTSKPLNPTUTPKLHKRPMLQURQPTKIIJKHOQSVWQFEQRMFIQNRRNNTUQMTQKLKOROHGGLQOMMRSRPJTUTRPOQRSUUXZXWUMMMY[YXYXROMMNSX]]TUPHDKUUQPUSRPHGJNHHMSQRUOPVOIDLLICIJIMNQSLFLPQMQRSSNUWREJMRSRG;:HLQMJLNOPSRSNMPVZWUTUUOS`d\WRIGNFNVUNNNRXSINUPOOSQSUXY[Z^YQG@CKLFEHHCINQSNKPOPNRZUIO[]Z[ZRSTPM]c`M=FX]SJSRR[YXaWQT]]aYHPUWV_\VWQ=$VceRVcfehga_d_VLSJXONTRPJNUVPPVTMQWUY[YSVacaaddV[]WWYYTMTYVUT\`Z]ZY\^]VQTTR[]ZVTYYZXWTWZYTVXUWVY[YVZRVY]`a`YWZZVYY\]WYVRSZWXWMQPYNQMQZS[[VXozyrdYWWXUZVV]b`^ZVY[Y\XWXYUPQUWZXY[Y[YSXXXZXYWVSYVRUUYZWNOSXad`VYZXVZZVNLLZMUZ]YYYWYUWW]ZY[XVY[YYZ[YYRWWUTYUWPQTSSQRQXWTYVUUQRWVWVPUSMPKURYVUXYXUU]ZWWWUUTUUXW[V_`[WXTWPRTTVXYWUXSUYWZYUNUTWUTUQTTXUTVVUXXWTUWSWUSUUTVXXW[VQOSWSTRY]\TQXXSMJQTSOJROKUWUNMLPORSTUONLPQUWWRPSONSPLRXXPWZPCDPTPKLFIUSMRTTTXWTPNMTRTVPLSX]]][ZVOLJDFNRPRVUNVXTQQUWSFAPV[^YVRPQMLOOTX\_abc[XQRTSSVWYRGINSRWQRTTTGLNMSYXVRQRNIGILIJVVJMQOJFLSWXTQMQXYLIKMRRIIOVWSSMKRXZULBA@NROKNWTNIGHMFEBBNad][ZWVY[`\TGEHKogU[cedWSSUMGMU]\_aXORONOVZVW_\UVWPPXZ\VV_a`]\WOEMVXRUSPSZ^[ZZXOLUWQRUWSRSTTQJORUQROOQTUSTPISYRJKQVPQPPQSMLV]\XMQYabXPP\\WLGOOJV]^\VJGMOOUQMINUX[[SPNFKPNLDEPTPPSXWWRMNNMJU^`WRY]^[[VTTQSYVY[XTQPMOQUTSX\VKKRZ^ZVSMELPXYUQNNRUXZ\ZVSSXXUXZ]YVTLMUY\Y\ZYOFQVWSPJKTY[]WQPWXUQKU\]TRQQSW\XSLIJKPTHEEMTRU^[TW[XYWVXWVQRXYXL;CQ[WWSNU`_bcZV__[M[NN]NR^a]ILOBEB\baPfjVXlhIYWIJRLTMXTWXTSWKRUTVNKMUTX\ZZdedbgc_ba[X^WXWWVOLUa^UY`][\\UNOPT[aa]YYXXUWWUWZ\]XTVYZZYKZPUXX[ZVXZWXZTYZVV]XVWVVYVV[[XXSPPQTWTWYdlpleVXYUPNPOSXV]\WZXZTQTW_]WYNRZZXYXXYXZZZYYY]XNVVYZUU[WLMUW]_ZWYYX\[[XXXZVUVVZWQUYORSTXYW[YXVVX\YXWUXWVWNPXUUQUYVUVRVUSONOUUYYYVWTXRYOTNPWVVVYYYV[ZWVWUPVNVV[]ccb]Z[[TUQQPQOX`\YTUSTXZ[VUOQVWVTUYUUWUSWTTVUWQMLSPOVTVTQMP[]UOPQRMMSZ[SNQRPPMRSPQQRVZ[USNMMKJLMOSPOOMHJONNUUSMQOPPVQILVVMGOSUUULNXUJJUVRFBGJKNNMXZQQUSHJMQ\`ZLKV\WMNOJOQIJQUUVROUZVVTOHNNNPLMMPRRSQHOEJCEGU_]^_WDLVWRLCR[VO\FQ\``[OMLA2J^e`ZVLU\__\VNS\^ZSMNMT[]ZWXVVQU[[VKAHJINPSWWWZZZVRPWYZWZZX]_^ZPHOTRSNJNXWQRQLHOUPGNTX[RRMKJGNX[VUYQHR]^VNQWXOGKNJKRZ[^[ZZWRNJHMIIUTXTKHFKTOHCJTW[\]ZWTLMQPRWUSQMOX^beea`ZSKIEKSSRSUZ]^^[UTYUURLQVRSSM>CPSX[VOPRQUZZRNSTPMFJSZ^YQMEHJNWURLAGJRY^[QGS^dfc]RQSRSSW`_VPTXXXXVVRSWQSUPNQQVSW\[VWWXURQU[^YWZUWZ]Z\]bb^MIOagcVWaif_giRIIMZ^^[KPR3KRRNGLRJ@MNJOSORRQVVQOQOMKCITWVOMIJGGJJLPQSTTRURUROPSPOV\^ZNP^^```]UMCKX_[WXQCIPPVZ[RHHIILGILJEMTPJKKOVVNRXVSNNKU^YEKVXMKPQNMSPGQUTPPRWVRRWOFGPTMIFJOVZXTSVUNPUPRad\KJMMTQUXIUUTJLMP]_\^YLID@HX^^QMLPY]_^[NJJRVTOPRQOGO[]]RQV\ZYSQVQHBJX`\RNRQYWUTTZ\`d_ZZYXQORUTXTRX\SSWZ\XUUURORVZYRUQWYY[Y\WWQJKQVUSX[]TJJKGFKUUV[`_]XWMJKLNRTOMNPKQWWOLUYXUUWSUPIFTVUWXRQNKLMW]^[\]ZVUQMQSUNGMQVXUOSWUVYUURQMMJEKPV`fbXRUTUYWUTW[ZUUWWXVRLKMPKKOVVURTQQV\[UJIQZ`_\XUSRTSW]\VRSXYRRSVWUTQUSRWVUUPQYSMOKOOMNWZXKJPNRa]YUUPW_e`Z[g`NVVbeiqqcKFABG]caQTKPWPT_b\NJOST\UOPLWRRNU\\XV]WWV[_^ZZ^UVWTYUX][[ZWYWXX\a^]\\XVVZYXVSXY[[XTNUXUXXVYVVUYRTYTVQTUWYPUUXXUXTVZWZVTVUZYXYWXQYZ\YTYYUTWZZYRNVUVQOYW^``]^[XPPXSRMOQTTZXZQLRUY_b`WWWWZUVYVVVUQUVPPQSWXW^[VQXTW[_]VTU[YXXWRTWXRMPPRQNNRVVWUUSSWYVRRYXZWVVXONRUYWVW]][WLLRUXUWVUZVXUYWVYWYXYOYQONMSXSRLTX[[TUTSRNRRQJTUUUUSVSWSTUQOVUTUUVTVUUTPOTTTTXQVTVVXYYUUNRLSRUTYYYXQPKLUWPOV[`_WYWX[RHGJHLQQTX[ZXURIKKRYUUXY[YTSQUWYUNRKF@GNPRTVQKLTYXUSSSWULHKKIMILGPRPUWXPPNKNPQRRSTSTRQWUJHKMNMKNODCMTMS[XVVRSPUYXXYSMRUROPURVZTRSLIKNKIQY_a\^]UPQWYYPKKQSTQNWRMJJRWQJLNNPTSRRRVVVUVZUPQLKNHPOHFMQNNSX[[VJDHNSOMMKBGSZZVQIFFRVVNROROSSLPPLPUTGCDLPOKRZ]XONUSGFLOJV^[PFSXWRLLSURPQRSUQNKMOOHIKEJORQMLQQMPMMULOMIIPQPKOOSY[ZSKGNUPPKRMRVTMMTRQOPPKQRZYYUPJEBJRU``]QIFC:IRSVU\\`[WWUMOTRMEFKVYOJGDLQMKGDMQPGHOMHMOHKTPGHHJQTSLDMJJPVVRTTPLNJGJIPSSQMTWPNSMNOPSOW[YQMDHU]ccc_\XY[NLRQCBJPTWXNLQNPSONOORY_\VTRKRNJUYWW[SMPUVLISVNKQUVVVUQOWVU[``ZVSRPLJOXTQPUWW]YPRYZSQ[XR`c]SLOPQPUWQNNFBPPE[\afaTKIMV\^]^ZXVXVSOMQPKOTPMQYWJJPTYTSOROLPV`geYJLW^\XRORWWQQTWX^a\WVUWTQQTUXUSX[WUVVROJJOSQKOVSVVZZZYZYYXRKIFBGLLRZWWTPPPI?@JNVXWWV\^]VPNSTSOQOLJPQMJPVUPUTSSWYUNOPPGBLTPMNT[YTQ[]\ab^VVSQNNGLRQRVUTRVVZZQTSMOTTWad^YRTVRNIPSOSTWZWTURRWXVSPKKSUZYWVUVYTRSOMPQLLPW`a`YQQQPONTUPQSVYXZS^^[XTMHJOSNMMPKV_ZOJLDCHPYbdWTNLXaggY^gidWMKQ[\`XJOIQVV[YYJDJS3I\cf^Ucdh`RJQRTXKV^`VQLNW[]^b^a\VTVVUV]f_VV[ZWVYYaca]VYZWXVXZXXSVYWWXTWX^YTSZY[VXXWYYZVVYW[ad\PUVYVWZWZOQUSUWVUXWZ_VXU[`]YVYWZTMMQUUZZX]^Z^_a\XWUOOPTXYV[aZXULOXX__YWYMTUXXVVROYZZSXWSVSMVVYSSRUW^]]VVYXWXXVWXXRRTROOSUUTRXZWVUWWRPQUYXVVVQXSVW]]YV[VXVVSOTYUXYXWYWUKNSVXVUUKSWQKRVXUTPUUUWOQUTKLTPXRVVPS[]UTTWRKQSTUUXTVYXXVWVTTQRROPOSTRXWXVWWOKVWTVZd^WPVSKJPMWJXR_`ZZYWXTQNLMRRUYYUVSWSQPMLNJNWX[WPJMTUYZTPJGLKHMSWWUKLLMTOSWW[ZQMMONLPMOU\QKOOQKJLRVTSRRKLLSTSWSSVXWQHPTTPWTQX_^ZY[URRX\bbVNMRTNORX[]PEDFEHDOUSMPV^b]NNU[ZWURUY^^XXXURCOVPKLNPMLKOWUXVUSTSTZ[VGDKOPKMORSYXWUQOLOPSXZTKFINQZ[YTVVVPWZWUWXURPMLPNFGHKKHNNOPOOQWXYYUJHNONLRTRKJSTSNDKTVNEKPTUPNTVVPRRJGTYVQIAHMQPOPONNLLPRQQSVWZ[ZRKENSWQGOVISTKHGHOTSIDGKQTTRSOHFGOT\ccZQRRKLPMMTX][VRVWTSWWQOMRTXPLNONPTUOCJNUSOJJHLONVXVPSQPVUQINRKHUXVRTVQLPLFHQXWRNKQROJLIFDLJLRVUSVUPQXZ]_ehf_OHMTSOPRRSWWPORRSSSLHQSXSQQPQVVRMUXQPPPOQSRSSWZXVQGMTVSOSTUX]`^XQTZWQFHRTLIMRRRPIJQSSRUNOOPUQONJVTPOOG=;EPSO?`ggeZSSS\]XRZYNSUVTMFLRLSSOMQURTWXXROOOOQOOUafecWSUVZ^ZSPTTRRUYTVYVZXTXXSRPOMQPWYXZWL@6GNJEKKJHLMMRTSV[\ZVRJGHJUWQEER]\XKGKIBHJX\RKKQX]XNHNTYTPLPQNNQPJJKRW[^_bcaXJ@GFHNVVWQOW[TKSYX\b^UNMMVXULJMTSTY[W\]VPRWRHLNQRTUYVRQOMJW[YSTV[UNNLRY\\URQWVTRTQSXSTSUTPOQQRRLPW\^^VQRURKEKPUPMTXVZbg]TWQQPURPLKLKVa`QRQTWRT]hdaZUU]^eb[[aaa^YL:?Xc`\]XPLVLUZTJLOYCH][PPusgQOQRU[_[MX[ZVRPSSVV^gf^ZZVUNXW_XXY]^a\W]agfa_^aYVVWYTSVUY\[YYZ[]WPMUZ]XUYVTUYXPSY]acYSQXWZ\WZZXWYXXWYZ\YXc^VPTXY_bZYWUXZVVQRUZXWVWWY\]\`WXTXYWWZ^a^ZXSVPY[ZW[\[ZWSTVWXUZ\YSOQVVURUUPMSQOWXZX][WSVWVXZ[WYOXTNMVXYXWTWTLSXUNNTXWVYUUUXYYTXZ[[YXURWTRLQYZXYYTVUVWTVUYRPRWXRRUTVUYUOJWSPNSPUMXUMTUQPXY[\WWTTUVUVWQSVY`_WVRUUVSROOQSVUTVVWSWTQNRVWX_feWQQUKJPPOUZ\Z\]YSTSQQPT][MLNRURTW]ZMFHLRVVWWQOMNKVXTMISYVOPZVUTNGAMSUTUUXYURNHOMKPW_^TFFNSPQOQOJFKOOOOVVNOPLOZ[VQPRSTOOGDRYcd^SSTWX]_\WPUQLIKOVVRKPPUQMOUQPKNY`_SLSX[ZYSMT\`_[XV[YYXUKKLRTQILUWWRNX]YZ^^UGLMONQVOIPX\ZRMIHPTSUUPDNZZWQQSVY[WTVYXTVYRNOIHNLONNQUVPGBCIMKOTY[VMMNMMJQYXQIOSTNOMUXOMHOURKNQVRQMIEHTXUVPKNQY]WPLOQUWQONPSPRPQMOKNPRRPKMOIRTQMMJMQG@EEHIMQQTTROOVVW[\TMTSNKROHKKPLCLRQNIIFLSQMSURQRTQLUZVTQSSWTNGAMQPTRMMSURWWQJMQILUVUWSSQNNNNOUXTQNSWTOMLLD@EGOSPPORQVVSOMNSajhf`\\WPRVTVVWVUYYWTLFKRVRKNOHJPWWWSTTSKGHPQJCIWXUONRTYVPNPSTUVZ]XQSVUTLAJLH=CKMRUPKOVXVWPSY^VTQPLJFALRMH=@HQTNLGIGKURSUWWRRRNUQMJHFLKIIOPGLQVRTUSOROMSXZY\WWTX]`cbY[[UNJOSY\VOORW[VQRUWTNPSWUWYZZVNJ@@JMMORTVYWOFLUTSQRQJDJPSTTOGOST]\UNQVKKPX[QNSUcjhTHJRSXVRPRUTWWTMKU]aed[\]ZPGLOMNOSWXQPVTQQQQOPSQOSSV`_VJIVWU\aY]^ZY^\UJGOMOLSTRTVRB:JUROLUVUOSVUSSJEBKQRJHKRWXWRNQRRNNMUSOT[YVUUTYYXUPNRVRJUSXWZ_YUXSGMOSSQONILWWa\ZYY[\ba[OSKJNGNRQPPSS_dYICXa^Y[^[RNHGZZ\aacaGEB9@AJPZVSJLSXWTSPPSXTWTVZcjh]WUURQS[\XXVW_faW[^_[bcd`]VY^]\UUTY\[UXTX\[ZVZ`ZROSXVZTRTTY\[ZXYRNTX_]XVXZWWXZZWXZ^[VYTTVMUYZYSOYZZSRLSQWVRXUZWZcjeWXTSUWZZVVXZYRUWYZ[YW\ZZTVUSUXUXWSNZSWUYWWUWWTLNQRTY\YNNTUOSSXLZUNWLX]\VVSWTSSUTPYXYXXSSWZVUUVTW[XWWUOVXYUVYXX[ZVMKPUVWUSKMTVRNTUVYRXVSQTMOQSRRPSVSXYUUTUX]\TTXWKLSWPKSW\]UUTRRSUWUUYWVTVTUSVRQPMPZVVWbc]UUVVTUQMRUUXZZSSYVUUQOUTOGLWZZUX^]OEHLPOOPMRTUQV]c_YTW]VPW\VLNQHFMSTVUSXVSUPJKQONVXRFOVZWOGJMFDFFKNNRTRPOLIO[ZXOGIRRROMGS]`e[RJKNUUW[\[VTMLIKIFHMRUPOMQHKONDIZXRQWVUY]^WPWZ_c]V\]Yb_^XSNQTSLOWZUQRUZZXZZQMLPJGORMMSVTVSVYTQOKMLJLPXZYURQPVWSNMFFLMQSUPMMPUVWTQSTSLCAINFENX[UNLQMLLQYVJBJRTQOPPOGKPMPTTSQPRRMGA?MUURMMNKLNMJFDGLPLKPTRNFEKOQIHLHGLONGGOPVTQNTVOOZXPJKMMRKLR[\QKOTZSPNORTPKGFDHGFGHMSOJLFBHPSQKKSQQVVWWTSQONLIRSSLLGISNIEKNLKOPMRVTVSHMQNGIPUTNGLPZ\]ZRTMGHFPT[ZXQNQRRORJFN_gmplhd\RNURKMSSOMHENQQY\UKIKJFEKQQPQUWRIIV[YLDIRWUNSZXPNQNPUSRRSQMNIJIMGJMMLGH=EH@@CKNQWVTY[]PSNNSTUNPHBEBJUR<=EGDMRRQLFMQSVVPPKIPWXURT[YUTYROPOMRTTTTQMOLOORV\WQOJINPW][QGEINRRQKGTVVXSVSUOLMFKKOWZVNHJGNMFLOHCMUOAFHEFOTXULLIGMNOPPPLERXQJNNKJCKTURTPJQSOLGLMKKLPLNSPJIH@@ELLFEBCFCFHFRWUMGHNRUPPKHCGEOXYUSOJMVWOGKQLFIOPNV]_a^WNPPQRRQRTYWWWQSTWSUWXSSOQRLJKEBFE@@GJIA7ENOU\`clrpe\\ZXSNIHLTVSTWZURSTRQIJOOOSSPMPVVPKMLIKPTTSTVUOWYXZYQKNOWWPHDKTVWZ[XUUMOIFEDNV`ecZXWZR?:O\ZWTQLMOGQadehdaVNJJT\]b]SQ\b]TNQQTZ\SMQW[\UNLLPYSYbd\WUQJLORU]]WY_a_YZ`a[SQPVWUJQWXVMKLSTV_`[TSSRPOV`^QOVSQPVUVSOOPW]YOMRY\SWXVSZRLGILQX[ZTUTWSQW]_fge\OIGIGJOWXQKTYZY]^]_]ZXXRJHSRMIJMTPPSUSPHQYYSOLRMOUTSWWNJORUXSOLOT[\WMPTZY^a\VMMOSUX\\WSSRKPRRV[SUUQKNOHQVSKFOZZVOLGERY\[Z^[SSUOQ^^XPOHLPTPQTURNLLJOVXUNRWWU\]YVXYXXWZ\__`[YWZXUOFFTZUPQMMTPTOT[^XPFZ]IJEHD<1B?WUOYJVRZYUood`_YUXPQWWV]]VTXXX\WPUXVTYYWTTUYUZ]]YVYVWXYXYVSYWVVXTSWWWROZc`]ab^^^X[_c\YXXVUYXWYWUUXY^[RTVVQYPZYZY\`[W``WUXV[\YYYZXZ]^XVY[[ZXUTW[VWYVLOQNNWXY^]ZVVVWV^ba\WPMOW][WWOQXZZ^cbZPPU[VWSXVXZWOPPVUWWVUZZZWZ[XWWZ[WUYWPUWWXZY^b_VYPWNTYUXWXYZXWSVYYXYY^cc\YUQRYMVUXUUTPUTUTRPNTULVLQTXWVTUQUW]^_XUUW^ceb]XYWVRVNMSXUTVSUJPTTVVW]X[\XUVTXUSNKWOQWKQRMNRSORVVUORUYZSKIFHMRNPNMOTPIMHOSSOQOSSW\]\UUUWV[VSTSMNQQKJNOLQONQTRPTXURURMMOPQQSSVUPQMLRNPUTNWWWRSTQPONRROUVQRUOO[nvtaIALKJRYWURQPSQNOGGSTWVRTUUQNJQbd^WUQU[\SOOKNPOTMQGIUVMGSPGINUYY_dc^YYVVXTOMGSQAKNMQRFDGRXRJJMHDDHLEALTNMPUPMMPVWSLGJMORPOVXLIQQMHHNPRSTRNJKMMJKPUWVJIIKMRZ\VOLPPRVTMKQWUXVMHEJKLECGMTSUQNMFGKGLPK=.LTSLQRSPNJRX]YQPMLKGMRWSQMJNQRX[TNIEHNNIINPOM>=JGGJMQUQMSXWPGIPUXUROVULIRPJIFFRLNMNSL?:GPRQSUOPLFFIKV_]]VSZ^\PKMLGSX[XYXXTOIIPPONWYUODDJJJPUXWRJLX^ZY]VPQSPRMKPRTMGEKQSSQQQNOMIFNSPQUVRQLOQQTPQTUTOJPTYVXUOIMM@=EIBELIGKW^fff\UX\\SMQTNJLOLJMOHKQPGEHNRQPMIIKMTSPPOKPPQRQRNKEISXUSPRSRPPRNSPPQRPNIBDGKQXUUOGGWZUWXQMSKHH=DLU\YXWQSWJJA?]^c[[UQMJPTTPTVQOW[bgiljeYUSOSW\\VQRQRPJNTZY^`ZWZZ]\[Y]VTPS[[][WSX\^YRVUPTW^\W]_Z][SGFNZ[TNNRLDQXXTXdea][ZTQSUXXYULKMNRZ]`b]YQUZWZ]YY[Y[ZSOQYWPKRYTS\]XRTQLRPLV[\[ZZ[[XTV\a_TVUTLMMNLGORNLKIMNJMOOTSX\\ZXVMJWZXWZ\UNLKIIMPTVWUVXTPX\_]WNDCQWIEJNSSQKMPHJOMQPNKMLHQ\\XSSXXWQKQSTXWWWZ\ZRHC@GQVWURRVQZ]UUVQOXadc\]a\XTCHXRLSae^i^]QRQRNVF.?;MVWSMOX]XRMLGMHJSVSUYWZYSG?DJNMLMSSUTUSRNJBBEEDEHI>=JQUXbjkhc[MKOOROOJMPTX[WQMEQX\VQKHFKKOOOLKILQUQIIMKNMMQRTQRROUVUXUPQSPRSMDMRRUQSMIRWQCBMZYGFTSPNHIBAKSUXOX^[OSQZhji\QPSUWYVQQSQOMJLVZ]gidYYXX\YTPJIMSYURX[Y]aYVTSWYWWZZRPUYZYRBKV]b^ZVTWYYVVUYZVQSLLKQV\WLNQQLKTUVX[_]ZWYZVSQRUZUOTSSTWWY_`YT[bc\[VRRPOW[SQXUWRYZZOQVVWXUNQTJFLPWaa[TNRTZ\ZTUTNGELTWURQJH?DTYQINQXZYTUVZ^WU[\WX\_ZROLKMORY`[RVWTRTQY\YUMGFIME@DPUUNJKJJIMUZWOSPIJOKFPY][SHFLOMUYWUXY[XOKPOTZWSRVUMPWFQ]`XX\^aabfbSRMEZ`PQ[dhg_PSXWUW^Z56KPWNAAHPV^UL_c]NJKJMXIXXRU^__ZRTXSUUUUWVXVVTXUSMKQUYVTUVULRVWUYYWVZ`_XVUTUWTWXVUXXYUUVVVYV\]WVV]de]YZ`_[YWUZVXUYXXXX[VQUTZWTW[WQOW[_UU^b]ZXZZSVTMY[YVTWVXUOTY\WWUVUSVXZTPQXYVWWZY\e_XWYYXXXVUPYWac]WVVWXWWXXUYVTUWTTPMQTWYY\[YVVYWXZZXYZPW\`^[[VXX]XYVYZXYZ^]WYXVTXZXQTVXXYRSYYUQOVYXSVUTVXTVYYXTPXUVWSXTXV_\WSWWTSNPUXVTWWVWUVUTZYWZ__[WVVQQTQVWWRTRUVTSPWSQMUSVUTV]dc^VQXXUOTJKMJKNOQXehdXSWTWWROQRMNZ[XRQTWVUUWVWURSVXOGKNZUILLOOLJKJRVYVPELU]]XNQQNOSOQNKGRUMESUPPSSUQLLPSSPQPIJJTQKSagf^TM`e_OLPPSUN>ANSMEJLLMRMDEMTOOS[^\PLOOMPQRV[]\\YTTVVJDIJPHLNOIKOKNQPNOJFLSRXZPGPYZUPQSNNQSUQNNOKORVWUUXXYXQJPSUURJ=FFNSXWQRTTTVWVWVUVX[YSQMJOQHDQZZUMGILOTPOLFGLMOVRMINSRQOHHSTTPSSUUTWPJSUURKGJMJILLIFOGFGHKRV[[TGGOOPQJBIOUPOMIDHQLJGOUXOOTXWQHMJMTW[YWWXUQOHDHGEINMEJRTRXZVONKMQRPRTVYVVWYVMTZWTROMKFMYWOJA@MZYS@7ETSPLPOOLSTQPTSRZ\YPINRSNLNMVYVSOELOOZclpmb`X[[\]TKKUUVXSNB?ISURLGBKOJHKNQMJIQWRGFGNNSYTMMTURMSWOLJEFDINOKPWXZYXVUGNXVQGX[SHJMMFMLOVNG=ISNM[`[[[`chf^ROOUXPFHU^`[WOKKGNZe_V]_[SQQQTSWZ`b^YVV\^WRUQSUVXXZWQXW^ZROEFRXVYYXWYUUSNLOIOPJKOTXWULQ\^^WVXUUXZZVTSYYQIJRVRNNSZZWWUPLQPWX[ZYQNONORYXWWWSOKVVVXXWWTOJHMKJSPP[[YMKNPQNN[_\VNMPV[XQILMJHSXURV\aa\WPX[\^[\WQUWVRYUNGNST]b_X[ZWQRJMV[RMF7FPWWQGHF8H\^KINDV\[YYZY\X[UHANRXWVRTUTNMORKOVZ[TJJORVSKQVTPVVPSQRPWRKPTVVRU]_]_ZUTSNFGNTVSNOTMSXURQRONNPVZ\_]YXOOWZVTPKJMQWVW\[YZSMLS[YXYVWVWTNLQNMHNNMOV[[UWUSLJVcda]]WPUWYYUVXUQOMMIJPOIIRWRQQPRTTVQPOELOOQSY[WPNX_]RSRMEIPQNPKHJUWWWQLJNRTX[ZOFNWWWSNHISYWNQTWYVXXKFHPOMKPSSWTSNNIOOU_`ZXWOJFLNQOIJSWTNKJIMOTXZWRGEGPRQJQ_d_VRSNF;BW^\RGER_c\RUWOPZ^d_P`hWJT[f[T_`__;+>KXU_aTWKPOMS[VWUWeb[OVWVXKT\baYZTUVPTUZX]\XXOOU^`]WWVVWVTRRPRUSWZYXYMRXWQSXXYX[\\\^XXUZ_f[VQVV^Z\_^YNX[XUXSLPWXVWY[WUXYYYYWV\a_XVTVVZXWXZZXVSQTWWZYSPUZ\YXXa_WRUSPWbh]YUWZ]VQLNWSX\\\XVRQUWUXYXV[[WWYWWZ[ZXUWTXVVUXYWYWQSVUV\\UY\\XVWXUWWXYTQPSX`\WWX[UVOQXZTRRUXWXUTTWVTRRTXUVYVWY[XUQUVXQUUUVWX[WWVYc_UUWXWVWWVLRXUSUXVUVSXXUXVVYXTWVZSTUSUVYXXYXWUVSKLMPW\WSPOPHGIMMQWVQVYSUWZZ\XNRUPNUY[\ZUIMHFLGNNROOQTWYUICINOQOPLMUVWSLMPPI=DKMPUQUSRUUTSPOTWNKMG@IQQOOSWVV\ZUTVVQTUZ]VKSY`_]VOHBOVWMMNLHHMMRXZRHMPTVSU\^]YRUZ\XUQTYZZOJSYZULJNPL^YNMQPRORSTSRNLKF?MPRJKMKMX^_]ac`WKPYSKMRRQLKQUWYVPS\ZKIQWWURUSKKMMHHLRSMKT[Z\ZWUVLIMJEEU\_YSVTRQOBCHHLJFFMWSLOVZVNPQVYYWVQMGDGIHKPRVOSYUTXURPGEPTUMINOMHKMPSQJLQQNOMPLMNKJSTTVYUOQVYTTLJG==PVRTURKJRNMRYYRKKLJLQVQQKORUOOMMSVTQOPW[XRWVOOSQMQVUUUUOU[\YRKMJKLKKKKKQRPOTXSOT_]RIJNKMPSNJHMUVMLNPNNFLUSIAIJGGMOOQQPZbe_\\]YWQVRRRUVRLIIJJPVYYZXUVUQNONMQNLDHNLFMOMJMPQOMD9>CJEAOSMJJKONGCNQLOYbcbSFPQLFCNT\b[[WK3C\`[SOOYY[Z]Sadd\OHLPJFQQPTVTURVQJMVZZROTSNWYWVZXWYZPRUTZ\XUVXSPOSW^XPNSXVUSRNQKKKSVVZ[\ORROKGOVYWW[ZWNMOVXSMJHNOQRNUYXVTEEMNJLTTSVRQNLPRNJJLRVWWRRRPOOSX[^YVWWSNKOTW_\SIMSTVTWWUXXWVYWX\ZTUWYWXSRNKJNPMNRS]\ZUULIMXXRKACQWXWWPMQQOOM[YUMCJUZ`\ZRMJOTSVPIV_b^TNKGHLPSX[YSRQJGMTXUSWXPFIMQQSQNJMPNPTUQMNRRNJKHEMRRMPZ\^UVTOABPVTGHDCYbb[TWUQRJ@EOSK<@DHMLOQNJXXSONMKRMOSU[[SPRURMFJRUQVYTPTXWRQQPI?KQONLQWWXULMMRPHKNQQRSRKNSPIKRSHGQXXYUKOURMMLOIMLEJMPONSRW`dec^X[`a[PDENNEAEJSSRNS]adcZNNSUQKKNTSQORTURUSSUPEAIS[ba[TTTSVQJLKKTSMY\[Y\[UEHPTTKGJNQUQPJHEBLQTSPNQTRMRTUUQVZXZTUTTOQTUQOWVQQV[]``[UPRVSIQ[^Y]b`VROSQOLKTTPTOPXVIHNRUXWUMHHHLJMNPLFHORSPQONMMRSONSQMPSVXTLJKNMOKHLUWNPPLIKLFGGFMOJLMNPMMRSROOU\XRLJOSXVMJMNQORTQILRTI?MQOKIE=JTSQJLTXZRNLPRJRZXNEDKQRKFOSLFGAHQSOQJIMKPPK@AFGFGPVXSIMVZ_ZNJKRQSQUTRWXRNSUSPQHHSXZPQPPPLRSSWYULOQRNE7CHJPRVffcaa^\VSTRJCGNLFGJQZ[UMJLJIIKQQOKMV\\TXSPOQUVPRXWTPOOLOQNLJAKPRGFKKUXSQLE>BMLERTNJLX[^]V\Z[RKQQcc]YXJAPY][RR``QNRXZYJBRQMJQSJNR^hf]TW]^[VUXUUPNLRV[VNQY\[XYVQV]\YOPOVURS\YTKPQJOUUX[[WTSQUW[_ZZWORSUY\ZUMGKRRPQOOPY[WQNKPSWVT[\WSOKKTTQNOTSJMRRUPMSRHLVVVQQTRPUVRHKRTWWVPLB=MPVZ[XVSSLNSWXTNPNRUTOKO[a^WU]hhfZPIKNJJOUNO[_WQTWVPW]XOGPQLDFVXNIRZTHHNLLPOLJKPXWUPRXOOSWWVXWY]ZSRUWUTV]b_ZRNJIOTPE?QZ\^\TOMOOV_`\XWQOMNURVEDY]XP]daTV_a`ffe\L@RUZ]]FJX]ZQV_Z8U`]jdPOPTMVSXVRcgfSTUSJUJVWMNTRWTUX[VNWYYZXXaedaVKYXUX[UUV]bcYXW[[[UTVW`^YWX]^WY_[VX]a`^VRY[W\]_XXZ\_[ZYXQOYX[^^\[WWXUYYZZZ\_]b[ZWWQY[]YVTYVXYYVUWVNQZYYVWWVZZXXZTUYPNLZPSYVYWSVUUUYac^XVV^YWXVVWZXUUVXZXZWYWXYTYVXPYWZ]ZXV\_a`XXUVWUU[a\MUW][WXXPUW^_XTNVVWXWX[\\VOTWU]\YQNMKNV\]YSMOU_ed^YVXOMVZ]]ZZWTVSNOTZXWRQOVWWWPLPTVWVQSUVUSXZYSSVWUSQURMWUWVSRLMNORWVWRLIMTV]ac[QNRORVPHIOQURUTTRPWSSVWSPRLA?GLLQRTYYVSMNPNLLPRWSMILOPMFHUSMKORSSNJPWQLOSNKLILOKJMKMW`hgdcc_^\^ZTOLJJGJQVVYXSRVa^WQJOTWVSNHNOIDITSOQWY[UHDGKU^c\XUQKRVTLJLTY[OXXTTRPLPVXSNI?JNMLJH?ELLQNMNSSSSONQUQMONQQUSQNOJLMMKQOGIRPW]`]UMR[YQQZ`^Y`[QMRMNUVSSNIMJUWKFPQJQVZZURKKOOKKLRKPPOSVWPORRQHCERRSTVVZ\USOHLPMONNOPNPQPMMB=JMPPNFGLRUNWVRJPSURTQLRQLQPJMSQNMSVVRW[TFILQSNK?GPSQOMPXSURTURMJPPOMRRMK?FVZURLHEEEOUKBBANWTJMMSPMRSSOOUZ^a\VXZSJDIRXQQOHMOQLPUPPU[\WRJIJOUURWXTRNKHJGA@FHDBKVSU^`bda[WTTLGRUTQLKNQOKHKGJHLPPOMMT^^YXWNMRQIEISVQLNQOKTPIIJNSTPNZ_fa[TPMMOVSILOMKPUZ_V[Xa[ZVKDLUecUABU^ec[VefVOOPVPNTZ\YTXURTSX`dXTXXZZSXWQTUSQOU\YPRXZWYZUSVYXXTMOVTNQRTMNUUSPUVTXXWVX\YVWVTVWVWYZ\^^XOPTWXWXZYRSSNRTUOQ[[RPTNQTPFJNOUXZWNPPUZXOKJ?EPTUMIMQYWTPNOUWYXUXXOFKRSQPWWVQJFK[`YOPLNZa]VRVRMNPX`jmjf[VQNEFMMLRZWXZ][POXUKNQSSXUTWXVY[WLPSPQYXOLPSRMNSVSSLTY\WTUW\_YRWTPPUWVWPWXPHSUVNJOTRUYVVTYZY]a]UUSNLNUQXZM_daSMHNSUX[_W^dhcR;BFX\TS]bPJciiZ<9M]rmWRSSQPUTRN^d]JXVMPT[cdYXUUTRTZ[YRRXY]]V\\\YWWW\XYXYXWWYWWZ\YVYUUXZ^\YXVTWYX_b\]YUZVOMTY^_][YYVWXYXWYUSVUYXVYU^\UXVWZYWVUTVVXZ[XWZVNTYWYXXURTSNSUZZTMTTVZZUUPNWVWTRVYWXYYXWVWWYVXYWUVY[XWZZYZZWWSWZVZZVVRZXVWWRNOYZVZY[ZW[]WXVX[UVX^]VTVXUYUTQTXW[WQTUWNWT[YYWYSVXXYYYVWWUPUY^^ZXUQRWTWSSMRRKT\^ZUVVVWJPV\XSOORSSUTRRXZZYTVRWWSNRUWTOZbbWSTTPSRWY_\UKWOTUWXRNMOPRS^c^VRMJQSWUMR[SNPOLNV][VWUUQMLNMHGKSVPU[][QLNPQONRTNFDHMMOMKOTRTWYYOGEKLRSTVRLGHOQQPQOQV\ddaddecaa_^YUUQNRWSNKRSKRYWLEGNTMKOTTWTRLNNLIMRWWNB?CKOUXZRSTQSWWOHHHOKUTNSWSIKTXTMNQNFIFHGCDJNOHDIPRQRUTLIQQPKOSR]_XNOLQWTWVSNRSORZ_\TIGPQQPRZY[_[MLSNJRQRKINOJPRJJQNAAHOPVUUORRMJPWUSVRNRQRKIKDIDKNRQSDJTZXUTSPSMIGJRRHFQWRGCHLJPUUWUNHKKITUPQRUQPUWUWPHRVSQUSNOPTYVQXWSHCSWWSOIIIJINOLMQWW[XSPQQQUY[WRHHSSWTJ9FGELSOJJEKMKIKLMTTQJJKSU[__ZVZ][SLEGJLMHGMONLRSSMKQ\ZRJCBHQNMRRIFJHKSUMKOVROQSRRVWZahsym]QILSRGFIILPROKIMMNQOKPZZZXSZTJP\[TNJHOSOMMJLNKFGILPMOVZ\XYUYYUNPTUNNNCBNPTWZAI^_Zbif__`\SIOX``]URRUOXTILMLT\VNQQQPXQVTVWTSOVY[XUYZXTPUZYYZXTPMUVSQQKBKSRPUTMHNROHJMORY[[XVPHQUQMNLLNRSOPXYVZSOJORSR\egaVPMNLPNQ][OOVWNPPKGEDOVRSRVXWZZOPRJFKWTLHDKUURQKHPMRRNUYTOLQVYTVWPRRSMTZVPJIQ\_\ZUTKISVQLYdikgb_XUPLMNTW[]]a`[RTTQUYUY_^XZ\\[XUROQRVWUNJRUVQLOOFACJRUQQX[XVVV[YQRYXRQV\aYPOVTONRUVUYXTTZZWQTQOTYZSIHUVYUWa]MMXER\^``TU^cbXNCLPUKS^akZ``]NHH?[okSKPPLW]bYVTWXTZWUTV\hnneYNWVUUYTZ\YXTZ[YRPY][\]WRRVVXWXWU]XY^a[YW\[VVXXNUWZ[\\ZXVUVWX]bdaYXYZXXVZZ[LVUXWZYWTOX]_TYVUYZXXYUPSWZ\^XVMPVYVTRWXLVLYXYWYTVUVYUWUUTRYWWYVVWOPXYVZXTKOUUWZTUW[WU[b`]WXVZXWONQSVXVXXY[YPWZVQYZYVUUWTTQUZXMMVUSLMUUVSYVWXWYVXVUXVUZ^[YUVTXXXTTY\XSRYVUVXXTTSUVTTTXTWVTU_daYXY[\VTSXSRTWVTQQQXXY^b]XUUWRTUOTWRNVebXWSVSVWVT[[YSONUVUSMUOQSQORXVXYWOKOY\TRUWRUWSRV_`YMMUWVSWVKHQVXSNT\XUPMJMLLGIKLOOPUUQONPPOKTRSOOMRPU[ZTQQMOTWWWWUQU_abb`UX\bb`\XROILSUUUZ[TQXZTCMRQOLOSVTYVTPI@GMPQPRMNKQMIJMQPSTUTRQPONOKKRVZTKNTWTTVRQJAKMIAGNQOIBJSQLGQUQILONLRVTWZSLUYXXWTQOQNMNSUZXPJJJIJLRYUW\ZQNMONPONQRWSLEMLMOHINQHHKPMHEEHGNTOLNOPMPQGDGKRSMNMQNGBNWWOMRUOLF@EQXSOLQOJLMOJNUUUVOLNIHGUVPST]`^YWWMBOUUQMMOONPQSONSVTCEQLQTSXYSMQSMORUVXXNQVVNIPTTRSXUKIJLKPPNOOLRULFELNHGCNRQOMHCADLQPRRTRVRPOJKOQPVPPPSPIFGIPVSNJFMVQIORNGBFHMPMRRRW]XSPOTQP\k‰ƒmZPLJJBLPOUTTOKOURSYZPLQSTRQPSOJV[UTTPPVRMMPQOBCLKLLIJTXWMDP[YM?@A;DRUS]cUMVXKFQWX]ioaULZINZ^^WXRLHRV]^YTLHKPQIJMOQRRRUPHOVPMW^YVVWRKOSXSVSUSNXYW[ZVJAPXWSOOROPTSJGKKTQPUXZQLGHKRWSNMJMLGIORVWTTOQJMR_b\QINPWVSUYWNKU[WQRQNOLLTMHNSWTVXUXZVPSXXRPTSVQQNJNTWWWVUUSQNOZ]ZVRPTYZUQPPRIFQYSQWXUSSUVTPNV`fikkcXUSKLQQPSTZ_`ZTVZZZ[Z^ZOUXWXWWVVTSURRLLPSX]ZXSLGLMKUUT]`WKLOWSSWXWPRS\ZUTRW[\WPKTY[]XQNMQQY[]WN[\OT``[X[e_CGPXLTRY\a^[XXMI@S`_OAOZ_dehW84F<-YVJUSSJRY_icYUZb]VUPKK\jlhXNSTTXVY[YSNV\[[XWY[XYUSMTYUY[\]aa]\\]X[[\[ZXXWRRYVYVXYYY]ZY]__\YZXWYY`b]\_UXXVXW[TOOVa\YPUVNXXWZXRQTVW\ZYVYWVYWVVZTLYWVZYTRY[XYX\^\WQORVZXQYOY[]^[WTUVY[ZVSV[[X[egaY[[WXWXXZUMLUWUXVUQRVTTVYYVUSVZZNUXVWYRYVUWYXYXSUZXVVXYWTXXRUYWNOQRTUVTVXXUWUVXUVWVTSTWXZZZXOPOLV[bYTSVTYVXVUTTVVVVRQWVUYYWUUQTVWVYXXVUQ_b^XTTMXLRLWQVWWOTVVRTXUTRTPQMOTYXVSRQSVPORPKRWZZZ\[UMUVVUSPQQPUSNKLNQQPSRLIMMHIQSTRSQQMONMOQPPMLUYYZVQRQLMFEJPVYYXRNTVZdhbUKOWW\\WUVOLQQRQUTSUW^^UNQTURKLMLTXXTPGIONMNSXTUUOLMLRVQWZVJEMPRRNMNU[[TQUWXTUXRNPNPRMJHPSPF@HQPMMPNMLJNVUUYX[ZULIWTRSRIGIGBNQSSWSPOVYXX\]XOMQTLEEHJHPTTVWXWVSWSNJRRKE=;AJQNEHPOMLQTUNLQRMLQWTMKNRPJHLPOLMPLJJFAFMRQNKNSKIOMNPQMFFHTXTJIIVLRV[[YWSJKRYYRLNSNLRTWZUMNSLAKSWVSVY\TMJJRPNQWURT[TNNOPPPLUYOJPOPVVRPMOSRMJJNQKEDCCHLRUTTLORJKJNKTVSSQPQOQQRLNNHCNTQJJQOOMNQMKPROLJJNMIDLPPV[\XUUSQU[dq€wiTLNIGNWVPRLIJSZXXYTQKKKRPNKPTHAJORSNLQRKLNMPLOUPOJGHKQTUNBSWMD?A:;MWY^bXLLU\_YZdinf>JYZCQZY[SQLJNSO]d_SQVXXTUWUSPMJRPKIUXVW\^_[RJEMOWUWRKNPWa`\^]URHOSVOPQROKGKLOOPXWQU`aVSWPLQV[ZSRY\RIOZ_a]YRQ\]VUUXY[[][YZZYXRQVWYURPVVWWVTMNWY[]ZSPMNQTYYXZ\YSX[XMQWUWWXWPKKPOSXWVQORQQJOJHQPQXVPPSVRNWX]ZSXWY]_eif\TWWNOKNPSPSTOMSZVUW\\^WUWVYZ]_[VSQPNNLPNRWXXWVV[ZPLMLT]WNPRRVYYZVTPKRYWQLVad^UKHPVW[VOOR]^ccSSSZUX]]XS_gfXJNKHLMNTRP?9:80E]ki[JHQXV]gnf`idXMXJVNLVSRY^\WSeb][VRXKTY_ZUYXYWVW\YYV[XZbc^UWWYVVSVVXYXQUXVVXZ^ZZZVYY[YYVYXUYTZVVWVYYXVWWW]ZZSOW\^WY[VTXYTQRZWPMUYUKNQQY\ZW^VNPRRTRSZZWSQRSVWTRWZY\VURQYWWXZYXYYSPTYUQQVWVYY__[ZVUQYXWZ\ZUQY^a`^XVVTZXYYQORNWOQWWZXWZWZYWVWR[\VYXX\_VUYYPSYVXSVVVWSUZXVUTVQSUTPQSMLUVVWUXTVU]\XVSQRQWWY\]VWVVRVbfbWQRUWSVTVRQXXXVTPSTWUXVRNTTYZ[\\YWWUVZXXXSRRTPJOKTUTVYVMMWSWRSZXVRUY[XWVPSRPNQSMKQXX[]\YPVWPLQGMOPSUPKSXVSQNNSNJNPQRSRNHORMJOVSJJHLKGINNRMKORSSOFHMSUXWTONLUegbYRPTW[]VSYXOPMGKQRTUUWYRJHQRHEMQQWXVVSNIPTUTTRLKOOXWOOSW[b_SQVWYWNLQWVUNFENUTORROVXVPLGHMUQLMOJOTVUMELFFONNTZYZVNKPVWVOMEGLMNLOPUWVYYZ]\\\Z\RW\WHEGIEEMLRWZ\\VRRJKLNKJAFMPSNHIQSPMRXVNJNROFEKLOIKMHGHTZTOROJFMHDHNOOOY^[UNJFHHQPQKMQWRPOPKYXTXRRX\RKQS[ZODLRPTVRTXXOOURQSWSVXUUUWQDCCEIRVWQVXPILLLPQNUZ\VUSMRSTRNQRMJNQPPNMOIEAGJKNPJJONDJPQNMNQRWUPPRUTPOMLQWYWXVYYYRKGKNOOIKNJKOSULLPORUTXWKLUWWbq{ykXQQOJMJJLPJCPSVVVRNJJMMOQNNTMIOX[X\TPMLKHDIOSVSOPRXXVQQPOV\VSLIA@HQX[^SIDQ`gedjxyk\[ffKUVHKKFNVQIWZYXace_YW\]YROKMOOORYZUSV^c\WQSPNOPKFCDR`]RRQOPSJPPNOPMJHQUVSMR[][X\YJERRMRVTSUY]\SHOVZb_SHFRVROPQSZ\YZSVWURPY^\[WUYYWPQURSPRRTZXQPLMLV]_ZVZXURTNTVRILPRSQFJTWNTXXPLMQPKRSHFPZ_XPPTRNGP[]]XUUX[WQVXXZYVOLPXYSONJHKNNNDDVZYUPJMV[X^]_\RNQRMNOJJOSWYW\\TMFHRXURTWYUUMMTZ]ZYYUNEDU\[RMGFKVVUQSV]^\YZVTVYZZONLT]ROFPKKMK>GPPOFB+0FaifXGAUgbZbgkgtqdO@TKNSPUTJR\`W[[YMJKVRQXPVWRVTV[XUTPY]X[ggZTSXVZ[UWWY]WYUVY\_bb_\VVSWWUYWUYVVSQTRUYWYWWWVV]XWVPTY[XVWWWOOYLOTVNMYYVYXXYVXX^aXOMUNPMQZ]WZWLRSUTVVZWVUSZVQQVVVXY^^XPVZUPLSRMTOV[VYWQXMW]bb]ZMMUZXVXWURVZWZVRXYRUSSV\[\Z[WUXTLPWYXVUQZ[[^]UOTOUSNPRVXYUZYUYVTXVYXTNPRVXXVVOLRTSTWTVURWWTWSVVXTXZVT^jj_NLPTPTVYXVWUVSNINVQOUTQOQUVY[[[VQOUXZYXVVRRRQPORUTSUSVQSTRTQSVRRTSTSUVVUSPNLOURRUZTRX\_\X[[LHOLEMPQSUVYYXVTTY]ZNLRRTUNH@?JMKOSNLHFHKGKF>>AGNNSWVQNUXZYTRLHGTcfd]VPKRVRKQYZYXURNOORSRQOLGNVNEFNPQQRPPUTPSUUXWPNKS\_`]YURU][RP\^[VQPVRQJQRTVTPPQMMRQQNQKMONJLJILPUUPPRKIOJCCNRSQPJIMRPF@DHNQMEOMLRNOQSTSOP^\NHTQLINNJHE@GOX[XSPMOLHJGMMKNVUPLLQQPNNSVXYWWSJ>;BINLKDGSVYTSSRIJIFGJRTSPYZWXVMEGJQWRQJPLMNPLMOXXVSMR[VOQTVXKDMNPVXVVWUROLMINOHNTSPNIGFBAGOUYXRONMOPRPPPKOXWPHAEQVXVQNOPOOSYVMGIKGDAHDEHGFELFLSURQOOLLNSVPNPPPNFGLNTRSPRTVPNOQMHBEEGIR]b^ZWOKRY\[QLOQKBVlvuneZUQMIHNNFNX[WWMKJGMUTQXXTLJOWVYadcYNKJMSUTNSZWRSYXTPQIOWWTSQRLET[^[URIHQ]bbVarzseUNWVIT\XPUTLRV^fa^]db\[UTWSOY_\RKPQPQVYW]^\VOMOMCEKUUPLJRQOJRTTODLQNNRPLNPTTVZa`cc^YSIBHMPPQRU[_ZVLMQILY^]VNNPWOLQZ\[[VRMQTPQZ[ZWWY[WQIPRSURQLEMSSSVXWU[\YVVXXXPHKOMITYWZXVOYZRTZ^XO?KTUTRMJS^_ZWZZ[\OEKTVVSTQUTKNO^ed[U\aYTNGGGINJFIKJRSTROHU][URW[ZSPVXSHEHJLJOVMOVWRLIPSKKPOX\UKKV\`_[TLGJKPQVURMIT[WOOMSWWWTU_^Z]da][^[UUUZ[\ZYXXZO]i`RN>H[daVTG]lkdVONQbdI;GR]db_[[^c`YOKGNPTUQNLRXacZUVXROJHNQTTQQQSYURWXQISYUSSOOROKNXTQLTWYVEHRVUSTSTTUVSUVXTTRPQSPLGILOFDKVWYYY\\SHHILNOMNNMRNNMIIMOMQRRMNLKSSRIIMLT^[WPKRU\cg`RMJPTPCDGNNNPRSVYZ]ZTQPTSSRUPIMKIB=EUUMAIIJNRPKLPNJKMSTSPSVVSTRLFDGLSQNMNTVWRLIOQOLRRSUVSOJOSJILYPPW\b_]YWVSHMQPLNMSVTNPQUZUICJJKOSNFKMKKPNQWTLORNONLLOKA=FPRO@DLNRUQNUVOOSTSRRMKIPTQONKR[VJQ`bXQPSNY]\RKJKIGELQPMNUVRORWRKKMVYWTNINQSMTYVX[USVUTWYVR[^`]\^c___UMNPPT\^YQRPSPCCPS]^ZNJLQXSVVSXWXSKKQPDGVXTRX^YIFV`c_QIKRTQP_`\WSLMY_a]\\joq^UUOLGMWQTRCQTPQOLX_^VOQXUVY_^\]QOPPPUYPMKMMNWXSRZZYQPVYRGLUXVUWVPMPQVXUXYXSMOPPPTUJLQUTUVNNOVUPKNQTVYXPNRSPSTUQCDNVUMHTYWVTRRTPLPWWUMLRUTTZ[SKCKMPNNOMMHJMWZYTRPRRTWMGGLPQPZdg[SRIJLCEOVWVRNRTVVPLR]`]]ZYVXVROQOKR]_]^[_cgfaYUTUTPKINX[YVZ[VRRTTSSVXTSVXX[YYUTSQMQ^bXPTW\]XNRZXUTV[[UGN\ec[MIIKQUVWUSVWYYYTOMJQSPXZ^ab^TQQRVRKNQV\ecef`XZXWOJLSdc[[QGKIIY_hiZ_^MMEGJSWceXTU\ZTacbNQ]STVTL[bd[_^UROXUUUKQVWWVWZ[WUVY[`]ZWRV^^\ZW[adfc_XYTSVZYXTUTYVVXVXWY[YTUVXUVTOSSVSNYW[b]VXWVWZ]XY^XWYOUZYXYdd_ZWRXYXWSTXVUWW[ZVWX]^]VXQPYW[YVUTZU[ZXVYUVZ[^ZRRYSUUTW[[VUNLU[ZXSQTXVXXYWVWYTOOUY\^WUVYZYZWXYYVXWXYXXVXWVTTXYZZZWUMSXPXKUYVNQYYRTWXVXVXXWXWTTVTVSTWTXSUUYYUNPU_ggc]\WWROTUVTUVWRRSTYTRSWSRMWWMRSTTSTV[[XUSRURUXWTTVSPPS\`\]UKPUVTVSPMTUPICLURGJQPTWWPQTUPJHNPPQUWSLCJOOKUZYWUTSQRQLMNRWUTWUWVSRKINSSMFJPPQMIJQONLOLKQZ_`ddc_YQIINLCKSXSOW\SKWUPLLMOPSTTRMNRSZYTMPQMHRY[YVSSVUMMUUJMXVSQKITZ^ZQNNIOTWRU[YSSUWQ?16ERXUNOW[]\[[\VPRPOTTSQQLHKNHKQMHINSMGKINSTKGELNSWWUPMPZaglgR;KUTLFIQTRIIPRWPTZZVUZ[WOPXUPJMLGGILPJEFGGJLNONIFJLLSUPUVTUVXTID?@HFAJSTRRQPLQVTQLQQOSJLQSWVOINRZSVXWZ\]\QOGIHJMRQLMQVRQTZ]XMOMNQSWUOMG?DMMGGGKSTPLNNPQTQPNOQQRVXTPRUPSPOORLJOQSJMRUQMGFGKNKNVWUMTQIGOUXRGGHKNMKPOHJJLMQWQOMRYSTZWTWVTPTRQTUOPSOLRUUTTUSRSW[bgdXUTLOIPXXTIINLGJLOUVKITWVSKHMNQMLNKNRPKHLPPNSXYWPUX^c_R:DONP\aUIQULJW_a]`homl_]UAFJLFPOS[YXSMRYYWUXVTPR[ZVZXXUZ\YSLSRJJMTSNNSZZVUY\WQSTPXXVUOKNLPWVWSMKKKTUTVUSJOSPSUQPVWSJGKOQW[VNNSRNNQXUQDDNNKMU^`VJOTVTPPZ]XTSQWZX[ZXSOVYTTOEHOTMMRZXTPLMMSNFKTOOTST__QEHIB=FIMOUWWVSQPMOLRW\ZUMKPOVXZZVUZbcaYUXbcebZTW\ZXTQR\_[[ZYPLRVQPT[ZXY^ZSUUQUVRSRPW\YPPW\`YKIOOMMMPQRQIS^b_\XNGHMNRW]ZVW]ZPOQQUUVVVWZYYVONPNLTYSLSSYZ_a\GDCMRW[YMPRRQVTEMOY`YQV]VY_YRNSQPSRSNOPhcXX__`]YTWacdd`TMWXZYVRSSUVbd`ZWYXPUX[[ZYV\\_`YXXbcec]VTUUWVVUUVYWXUWWYWYVSOTY]]WTVUWXUOO\\c_YWYTVTX]VVULWYXWWRXed]_[UVVYUUWYTNOUWZWSYYZWXZZUUXVWYYZYYZXYZZUYXY\]WUTUW^`ddaXVVSV^_ZWVXTRZVZVQQYZWVUZYZZUY[Z[^XRNRPOW[^VWY\ZWXUVWXVTUUPQWSVZSXTURSTOPXVYWUXV\\YWXSUWQSVSQKMUZc_VUX]hjc`ccWRRTXSVUWUTTYYYWOUWTUWXUQKRVVSUWUVUWVTYX[^[SVVUWRTUZ[XWQQRVUSTMW\YOIJPWTJKRTUWNHOOORRVX\[WVUTMJKMKLRZXUYUNLKQOKJNVZZQPHEGNRPTTMFHMSQUROMSPJKTWQMSV_gfbYTPEKTSLENQVX]c^QPTPJAJLKKPTTQUWUWWKJNPJDNXWTVZ[[YVTZXOLSURRQOPZcb]XYQJSQQPVZY\ZSD@HINVTKMX\YYZZ[Z]][XZ^YURPMINNMOPMMNVYZQGIVVUPOJGMSTTPPPUZ\a`VQLTSNOUVXREFSWQOPVSLNS[\UX[YMHEIJSTQKPGHTRNNRWXRLUUKKPSTQOUWUNJNQTURKKPLPOPOJHPSLFHQSQJJLSSQLMQTPOMOOUZ[VPMJHHJPTUNLSUURVY`\RJEINR]]ZWWVTTUMBDNPHKQOKDEKSURNNMRRROKNPQUSRVTPKPSMQPOJNTQRPKNQTUXQMOTYPMSUWTSNLSOIOLJHHLPPMIOHOUPQXTUXXSOTNKPOKKTTNRQRSWXWWOJKQY[Z_`[YXQSPOGGMLNOQMPNOP\`\YW[][VOQRNMMNNHBKSXPLSRONKKZ^XK5JVMTXOERVMRZVVRPR[fllj\PAGIOYQd^XYXPICBNUTNNRSIRST[][MQZZSPVPKKQMKJLGHOTOTX[YVTQV[YVSZ]YYYTY[YUTUQQMNRNNNNHKS[\\ZYRQMEDMZUQT\]_a^YRQNPROLRW`b^NQXYZYRQRPPNCCMPMQXWUWSPPNJNYZWXWWWWYYVUQSS\^ZXYXXZWOGBFGGKUSWY]^]WTQPUXUNHINHGGOW]ZWURUXXVWYW\[UONPRXWUXW[]\YXXVPMVWVOKQYXZ\XTPWUVVQNSSTTVPQ[`^[SONSWVTMLUXVV[[]^\UPPLMOSYVWUVWUQPU[]]]TDGSUIKXYMUZXTSRORWVQLTLEGIZ^T8KQDEQDHQH>LKRUWQdffZWUTae]ZOP_idUZWahd\_\ZPT[Y\YQTYXUUWWVQU\WXUYTSPMOSVZ\WUSY`bZWY[YXSYMOLTWTTTUX\^YWUUUWWXV`][XZUUVXYYXYXYYVTTSNUXUUKXSMWPZNZY^cddbWWVRPVZ\YUOVYTZXVYXQPZX[]]\WY[\YUVVVWVYXYV]`[ZTPNT`cea]bd[WWWUNRXWZUXWXSTSWYZWXXVRTYZWXXVRMMNVVXZWY\VYWURUSVTQXTUNTTRPVXXSQLQVWTUUWWXXUUV\XPNQQRUXSOTUV^`^[WVfnibfaWRWYZVQQRSNOU[XWSRTQMSYYVLLRTSWWWWXZWVW[WXSTJRSVTTWTUWXUTSUVVNRQXWPGJPRSONUX]\TRTMKNMTX[[ZXQJMIJHGMQUTLOMMQRRFDAJTXTQNIA?GOPLDAHNQTSQROUUVSSW[XWZ]fjnhZTSNNWXVMKPTWSUPKLNPPU\_TNFLPQWW[\XRNPOLOTVWRRTZ\_]XVUOLOJKOOLN[df_\[WVROPWYWQRUNSVPQMOURKLRWSUZYOSY`\XXac`WVUTTSTKLJNMOX[YMJLQSWQPORWXVWYQOOT[`ZTLGLHPXTPPQXWXTQTSPJKOWZ`c]SJHPONRSLQVUSX\YOJNRQSVTSRRSVMFRVRJQQNLMSV[\YVVRUUSMJLLOPTRMHFFEFJS[\\UMNW\WSNQMHJNQTRNLNKOKKR\[VTSRPT^_ZXZYRRSWQOVXVOLJIDBJQRUVTRSOMMJHFGNY_aa]YUSYXWQLRUXZVJNSUTPMIHQSRRUWX[ZOOUSQUOLLLNTYQQVWQROLPQOPTSUNKIMIEOU\YTNJNSZYUICIQOQWaefbZTFDFJKORVVQOOPRRTSQNR[\VTWWTNNLHNLIFS[UMNRLTXX[`WOQXYSKX[^\UAK[d`ZEH@Ydd`YK;N[HMXSJG@FQRIBLXUNOSU[]VKMROUSXWTVYYQIGJFMUSRYUPPMJOY[XRX[ZXSOVZYWQLGAEOSNPTTNMNVRNOMKNQMHIRRPMUZ_dd`[TUVSIRUQNRQMNSVVXTYSJKMLMPMNPVZURRNQUXUV]\[VXXUNPRRMQY^_[WY[_c`ZOCOSLOU\ZXQSVWTLGJQSTRKIDEKQY]YTSUTZYUXWVVUMIMRV[WPRWY[WXYWVUPGJMKBHPRTSUWURRRQRTVZX[VQUZ\^ZTXWV[XYVNSYVTQRXZ\\USW[ZTRPTSQUWOKUab`VNIPRUV]ca\VUQISZ[\]WM@BFBEFWaPCE-#=XTVVSIFLa`MP[a]IT[VV[jeMO[XUYXVbjgZS\]UXVY\VOSUTUSXWWYVUXQTVWUUNMRU\XYXYY[\XUUVXUUXWXXOVUTYUTUWZUXVVRYWVX[ZUVWTZXYWVVXSXTOSVZ][WSVMNUXXXYSYY[_][YQLYWWZWZQUURUWV[ZZVYYWVX\\ZZXVWVXTXWVVV[dc^[[WXRYYWZW\\WWWPRMUTVZXWZYTOOQRTWSWZVQV[XUWYVPRVX^]YX[][YWXYWQPRXU[XUWUZWTYUUUPQYXYVVXUWNPTX[ZWPQUROMJSPPOSXTWW\lsoeb\WVLRVUSTTTLJWYXWXVYYUWUWWRRMNTZTVUZWUSOUUKRVVWWRSZ\^``YVTXWYTPMXVWSLPWVUUUQSW_^YVOMTXWTMPVSNJFKKLTUVMNMMLLRULA?IJJLJOSPJKPUTPKIHFJLPQNKOMQWXTWXYX]dw€qROPQVWUPOPPW[YQOPZ_]^ac`XPGMTSUZWSPOLMOMTXX\VUSTRYYVPNOPLLOLFFS]`^WWZXPLMISWPPZXQUTQNORQLJOVVVX[VLT][OMY`][[[XY][XQOEDBNXYVNMNMLRUWZ\\^]ZVPPT^a^SNFGHV\[VTVUTTTPNRRQRPOT^ff^QFNSVQLJR]WMTWYWQLLMRPOTTHIOG@HOLJRTONJIPZ[Z\ZSPTXTMPUPKPQRNKPMOUQQTVRQMRWSPTSOEHKTYVOMPSTWTVUSLPYXPJSTQQSOKJJNOJPVTQQOQQLJMLNUUWXTRUQHCBMU[^a]TSTRRNRRMFGNKIJOLJRVTLRWUPMSY[ZSPTQPWSONMJJPSMQSKPROHPOMNRMKIIJKNUUORQHBDJOVVVSQNFJPOS]][ZXSOA6?RWTOPPTX\YJHJOTMHAKRNNSVZ\YTOQUNNZ[TV\Y\]YNWVPNIP]]_WMKU^dYM;CYg`_[QFZ^X@O]SYYVVTS\bYMJUZ\YX^^^YTOOQRQTTTSUYXUPQSSRQPLOQLLOSSSYVUTVUPPLMRLRRSOOOORTTWRF=EMGGKJCIPSTSTYVPLQRSX^_ZVZTPXYUKFKJHNOKQ[`]UJNMOPSOKNRQOTNSV]TPPRPV\]WKFJJPORVY[^_bdd`VOMUXTMRWUTPORRURLJDJVZYWWTPKRX[VVVXZZVRVYWTPNOVWTOEHOMKQXYRRX[XQQFBHLLPONSSNGDKMMPNPRTS[^\YVSTWUUPJLOTUQQOGOSUYQJP`c`YSUURRRQPZcbWOJPTSUVUVZ[URPUa`\_`ZNNMPJSUSUFED9IX]``[U_\[gcQJSc\Q1LQURhfTX^WQTa^dgWWV\`UTLTYTTTRVNU]aYVTUYUU]WWT]`_\[VYYWVVUVX^_[YUYXZYXXYXTXYYZ\[XVXWXYZZX[XVW]ZVWY\ZYPOQQXX[ZZUWZYXVVZYYVUWYVVZ_\UWTMZPYQNLPVUW]\WVYXYWVSYWZWXXYYXVYVWXW[[WWYRNUYYZUYWVUUTOZNNV[_^XWUYWWXXTSXWSLVSX\]\[WQNPWZ\ZXZXVYTSRSSWUWUYXXYPW[[UWXWWSTTTTWWWUKRWYVVVYYSNOXWMQMPUTKWT[ahed_YVKXLWWVWSSTPUVZZWWZ[WXWTTWUPKRVTRPSWTSTKMNUXTVWSRURVY_^ZVSX_aXTMPRRNISURKPQSKLUWWPIKSX_[TTWMKHHKQKUXSMLQOHKTQFEGIGFJQQSSQRSUUXYVOMKKNPPPQOIOMNSYTXYbyŠŽ€hMHJMOTQOMIMVTQMU^b[OOUWVKMPLERUUOHKNRSSXYUTYZ[JDPUQORPQMQSNHHKRZZUVZYRSTNLPOTWSTROGJKLIMKMNQTZ[WSXWNLPUWUZ`a^WSNPPQKOPSTVRQSQIEMOLSY\UVWX[YVTRNIJIMQV[]ZQQTOEJLTVUSQJMS\`]TNHPVSUSUXXPUUQQMLMPUVUZ[RDEHJJKMQQQQONFBOPU_]XRWZXJIOSHJONHNUXRUSLMRUY]GJQOKPUKGFGOUUMTYYZYYZUJHRZXPRXZQIMNKFCBB?HLKNOQNKMMOOLIRWXSTVXRIGINNX[WRWUJFIIMLFJP[\ZRPJPWXXV[VLHU[\WQUWRNUZWOOMJJMIKPNNQOQTXRRQTVUTJKQYSMKQNNOKNSRQSRRNMPTUSMLRY]\PDHJMLONPUY[YYUSRQMHIFJKR\^_c[QLILJR^fba^^]`YQRRQWW[_aXPIX]ad^ULERUZa_XWY^QO]\VZOX_XSTZYYQMJPX[WWUSOSMLFBLSPMNPOSW[XULPTJKOJIM[b`WPV\ZWKHOPONJKLLOSVSWXXUKDQTPDMOLLOUZWTXa\RLHHLUVSTVYSPLMKQVRKPPONTZZWVOOLQX[WYYWVMILRQOKLLOVYWPLQLGRSIQNRYbddbZRLPUSKJKVZ]]\XURURNKKSVTVYPHEIR\[OOSOROPSZOFQJGNQORUZYUKSVWUX]^Z__YOHHNUTPPPQSU[TPPLNKKNJWXUQNONHFFJSTPQOUVTJKPWWQOT[\XVXXZTRTSRXYTPT\]Z[\PJLPHP\^_^QS_aZNOWUQUWOSTOQILURYUGTaaeYVSYd`VNT]XQSQKV`VIVVV[YTWV\VKQVWQRXVKUSU`cbWNOOW`a[X\gg_UWXXWSXZWWZde_ZXTPSVX\YSLRUX[[[XTUYYUXUXXRRX]YUVZYXSYXSKPYY\QUOTVYYXTSXTXZTZZ_b^Z[][YRTXVVXYZUX]_XUUWXXXTRZXZTXTZZYVXVXPNRUVWSVWZZUYRVUUUPTTQRQXabVX[WVXYYWYWTXUOOOYYXWZRNZX^^WUSRTTSUXUVXXSSUX_]UUTWUXVTSRMPTRXPSTVYTVRRVUTRWMRLLJVLVUPLPQSYdf]URTU[[][XVXTVVXWXWTYTXVVXWURVUQRRSUTUTVUJKUPLTLSWRTTKMSXXVPRTYXTXXILQRQKIOTWQNORTUGCMT[_YYVQMJEGJLRYZSRUSHKORNMFBFMTXUMRQNJPPQUTNLLONMLLOLKJGITZUNQQf}„{dYRKEJRRJGNPRMLLS]`ZTXTMFFLTTNQTSTTYXPRX\ZUNQXYTPPQNPQMLNMQRLOOHOPTTWYTNNQWUNQODJQQKPQNGGIFILOQSZ_\ZVPPPUVZ^`XOKNKQTWVVRNTRMJMQSPPLEJHHJRVVUMMSUTSRUUVRUUPKSTMLTTTUWWVSU[]WVWVSVSX[VVT[ZUURKDKQSNS^^UDEPSOJOVULJQROINKMQQPJOSRLJOPOJKMGFOUTMLJNYZ^`]QVUSRRJGMSSOPJKRX[ZTROLKRQKNRXXWIIRSOHLGGLQSRSUQPQNNONOSTNOPSTTOMSRUUSNRUUKNMKJGELS`a][VPIMTZZVPMMQURPIQYXTUUVFGHHLMICIKPNHIGHNOMNTZYRHLSUTSQNVYNPUTNONOQMPNOPOKLOY_a_aXKNQPT\[UUUTMOPLKLMMMV\\XTQLHDGNRXS]eedca`WQS\^_[X_]RPSXYVXUQTY\`c]XSQQVPQ[`_GGQJGRXZZTJIQUQIJHORQNNPPUTPJLLJKSPPOOVWTQQNMMX_^XSY]]ZNCOUSMHGLPRRR[YXWUUSZ[UPLMOMJX]_]^a]SKHHKOONQW[_`^TPX]^YYSNMPTZ[WPMSWXX[]]YQEU_][^[[ZVL]_]lk_TabWTBGMWfaaZ`XR]`^XW\[X[cc[UVQQTafaXU[\XYZYZUX]YUWWUXTT[`XWUYUUWUY_Z\XXXSLXXQOUYYZXVXYVYVSTZYXUSRUYZZWW\XYZ[WVUTLUZSRYac^UXXTPNQPSWZVZZUNNZNQPTQQVUXWVXZYTSUZYZVTYUQLLUWUTZX]YQORRPUWVYYXYVQPZWXWXXVTWZVVOPWYVRVVYRLUVXZYWZZPU[ZXVUYXYVRWYVTRYWWXVTVXUSMMPTYb`\VXSSSRSOOOOQYXXVRTTQRTRPMLMRQXR]ijaTNMUVXTXZXXUWWTTNOQW[\b^YWUTWQQMIOTUTVOIUMTMKSSNPQOPLSUQTSVUVWQWVTXVSUYULGLLQWXY[^d_XQR]ee]QJKFINJJNWVLFGY\[TLLNG>FJJFLONRSOMKPQONPLHIMKMJEGLRUTPPNZjusjc^YOJ?CRUSPTYVRMKPTWXTQHGHMQQXZVRMS\a]LKRRUWPHHPUWTSTTSUYYZVPPRPNMJNVZVTSLHPSJKUWRLMGIUTQSSNPQXYXTRMQTT[ZZY[]_]XKAJOKFMTVMIJPPHLRSVNVXSPNMLHOXSNPRSVWUQTSMCAEMQPLSQNCIQWQQSVVUTYTNPQOJNLKKNPRSOMKLMNOOLQVVURKFKTYURPI@=CERRROOSUQTSRPPSUULGJIKNRRRNGEUXYYWSOOWWTYPJRNHNTVVVUWYZSRORQQQRNNSSPNPKQZYQPQTWYYWUROOMKKLOZ\XUVSRRWYVSLLQQRRUQFKUYUOOJNSSPRMJLKLT\^SJKJQWXXUUSQMLMUYZPPNPPMKKTTQHCGPWUVSMHDOS[`^ZRVWOKRRQPTQPRTZgiic]VTSWZYVRNLNMTWSSRNKPNKQVYXUVWY\ZUTRV^ab`YXX__[_XR[a_[W^_cfgfb]R@FNUYXIMW^ZOQU^RSTNLQT^VLPUVOPVZTKEHRURRSNOQOQVYYTRUXTKJVUOQMEJQRQRSURKNMFJTUOPTTWTRMIMY[ULIMQTXXTIKTTMLQVZRPPPOSTSOOTYQOQQQOPTVSMV\`^YUTNIPSRMPNVUSNQVUPT\XUX]^ZRTOHHKOY[[XV^]WMKJKLPNEIKLPORWTNSXY[Y[VMLOLR[XZ][[]_`WNJPOOWZYUPPTZXXTPRWWXYRHLPLJLYXWYVTPOPUQRQSXXUUVPJOUXVOQMTUZ_\[YUTZ]VSTICHRVUQTRTTRU`ebWSNPTVUQWZTSVXWT^]TY`ZRY[]_``YUOTH?PVQ\aVNY`\jpcdeRD]\YO]ZV[IUSOWdVPPUOPTXXXXY`UPVNUKX^a_[]XUUZ]YXXYZVVTUVQOX\\][XVTPTWZY^__YWZ]WTSYWWW\ZYYXXVYXUXVSYVUTXXWY]_OWUVWWVTTXZ___b]VQPQOTXWWY]YTXPUTWVTUZVQZOMOQXVWZXVWUNUOWTTNPVVZXXVVWPMNOZQYZWW\[YYU[]XVXVVPSYXWYVWVUZY[XQPTZTSUSWYW[]\ZXZSPPONYYXVYWUTUUUXVYNURUU_efbYYUXYZXUXXSVWUUWRMMPRUXTUWXQWXU]jgaTQNRY[]ZYVPWOVUXSTKOX[[XUTTTUXTQLRWTSRWSPVSVVTSROQQTNLOPVTWSUXMWNTSXXTYWNEMNNPPQRTWYYVUY`\ULMRQLPKFJPURLEMMSSNILHBAIKJOPRTQTOHIKLSYTDHRK>AHMSWRNPXU\kvyqeYXTOKORXUUSOTSQPRUMOTPLRRMKOYYQNIJWb`ZY\URSROJCHNNIORORYYRSNKLGFKGMWZSSSJFNTIOVRMOSXNTX[WTUSOPPWYXVRRSUUZ[ZUTW[\SA=CDDTaaXPGECAJPWX[UXZVXUJFJUQONUXZ\UTRPSUVRRW[[SKGJPVVSVVQNOYYXQKFDIRRNQRRQQQKLORTTNLNQX[WSIMRURQSLFINTUTTRNXYWLGB>ALTUJEIFFPTSQQSOPPXUOKOTUVWVMSVPJILOPTV\``SSRRURSNR\[SPOPOOLJTUMOSTTROOOOLNRUXWQMNRWXMMPUTPPSUVWRSQROJRSKKQRTTNFIGDKZ^WMHMQLPSTRNMMINXYVSPLJNUUQSTOMIDHKONJNLKJLQVWPKOUQEKOMMLNOMIBRU\`]]XTVXPQQLFIRSRPKKHKLLMRSVXWTU[ZUSWWTWXXSWQW[VW\ZWZ^YMTdd^ae[YTLEV[X\XROPUOKHLVQ^e]VU[\R=H\[SJKQPPVOOYTPOPPSYURURPUZ\WONSRNOF=EOMHJMTRTW^WSVSORTV[[UQU[XYOKIEHMPQUWSROMMQWYXWWROTRTVX\]]XSSRPOQTQMKNOMLMQKFNQOTUPUXVPNR[VOROMQZ[XWUSOGBDV\ZUPX^TVNKOSTONLNQSSTUMJNUUTUVYY[bYNOR[\[WUVYVOOTYVWYWQQRTVUPRRVONS[YSMONKT\ZWXYUVTVXTSQNUUOTURHHSTPRQMT[eigca^]][XWTSROPSOMKLNQYON]b`[UPTTUPOSMKW__ZXTBOVPQ[]ZUVVK@CMORUSS_g`QV\bnmeijPSW[Rbfh]XBKSV[`]RSTURUZ`XYcd]XW[VWWVXX]VTUUXVWXSTSLSU[]USSTVUXTXXXW]\UY^^\V^^VUVWSSWWXXWTWSXXXXYSXXZUVWVV^`ZPPPQWXX[]_X\VUQOVVZR[`][[]_XSXU]`a\Xa[SYTYOTXXWZX\ZXXWQXXXYVTXXYWVZWSVTTRUZWXXZYXWW`_VQQWYYYUZY``_[YVZ[^YUWVUSXWXWYXXVTSZVZZXUSVUTVYUVWYWW[ZVYWOVZ__\X\VXXXUUWWTTUYXRPRORSVUTOTROLKOT\\VTPUWUTXTXXWWYVWW\XVPQXVXWVTVWVSOLMQVTWKOWWWPWWVRRSSRWSUTS[^YXUWLKRRSUVY`[VUSSLLG=DOV[YOORZWOP[ZUOMKLLJLJLHHTXSJMKGBJWWPIMSTRRLNPQSXQGOSN@FMRQQRNRXYXTRPIKMJJLNEEKNMNRSRMPRRLFKQUZZTKNQNNPMIMSX\aa\URRTPSTVZ^\[_]SQNLRSNLDP[a_ZWSPMOZYSNKOS\\SMUW]VVXQQQQUXUPLTPBDLSTRIINPMNVUSRNSWPNQVVQOPPRNOPORQOTXUV\WMMSUGFNNMQ__ZMPROKPSQIGNPQQPJJMRMSWX]^^XSWTWVRLJPVQKKJHJPFDNVXVXWYVVPS[]]X\^YQOLMWWY\YS[[ZTR_aW[b\SPLGTYX]ab^TPJDKQVWPLVR`ba]N?EMFGKLQWZRRYVIEMV[YYWQQOSXYPISTVXVKHNMGBGGKPV]`ZNNRQPTUZ^WX^^XLFBFFS`[Y`de^SKMPPQUUOEEQTNQOOZ[[XZYQLQTTVRHOTWZYSE@JKMW]^ZPPR^ime[KLKEIOCIQUQMPOGMTURLKLORUUY\VQLNQPKAQ\_^]WOLNIFPWSVWUONUVSQRQMPPLOZ^__^\ZNIMRSOMPQQPX_ZRISUNORWXYZVPIFKKIPQW\VMLKOSPGMRSVXY\YZZYXRDCJMTUUUYOSXXQMINUUQSROOQJNURMHKJNWWMHLMKQSRRX\WG@EIHFGLOTROR[]\VSRQQPLGJNTUSPVXTG@?FDEJNKMMTWWWRLQNPTWWOEMRQQTXZUTZ]XHHKJGNRMKRUTVWPHRVWZWTSRLJNJPUWW^b]WWRUYUMJKMMOQTUYUOOQQUZRFBLJZXTUW[TOTXNJLMSSPRUSQOMOSUMGCJLJLH>@DGPPJCORTMNRRTPNTRNPNRPIP^\NCHKILSVUTYZXSVYUMGPRLOLKPOOJLKKOLLKKPPS]`baXSTQQTRQPOCIQOGNY^]WUOMEGPTX`bbc`_VNGKUX]YWZ\]WNQWKU__WPRSPJBFQRRM48BLRX\[KX[RNOIONOSRMMNUYXZ``SCEMQSOORPMPUZREMZXXWTUVPLBEJBENRVSNQSTMQ[^^ZYYVSOKLILV]ZSS`aaWTVYWVSTMKQ\]YVSRXYW]ddXPSSRSSKQUZ\^TKD@LUXPJUYVQSVUVQLOSMNUSNMPWRKR[_WTY[ZQECGIKMOOSTOIIMRSSOMILPUTTXQV^ZTPQTTTOSX]]bc_]YY[ZWPKGLIOTZ\\[]]TRUXQKHJQT[XRQPQORTPPU]a\VMMRTTVYWQMQ\dbZQHRTWVRLRXVOJJOSSOLMHNQX[]`bcb\^`XUURQR\^YSWWRTYghaVOIMW]VWZXSPXIFGYgjk]UQNO_OPPVZNE@OXXgU7NUKNRVXZYabWXZWYRWJVTYa^VXSXbfUX]XVXVTNSVXY^a[VWSNTY[XWYYUZZUSRMWX^f`[W]`^]XXTPMX`gebURUYT[]WVWVZULSTVPYXLRUUQLQUUVQORW\XZWXSVXYWZVWTUUYXZY\]YVRZTWYVPTXVWZUYYYZXZWXXPORYVVYXZZZ][VVXXRV^`\[VSTOPW\cc_^a[UWXRRRXVXWUXZVVTWZ\ZVY\WKVWXWSSOSTTUVVXYUTUWWWTTTXTSU__\WWVYTMKLOVWUWXSUVWY\``]^][WRQMKRRRXVYTSSVPTVSUSTZVTWWQVTRROINVTSMJWMQSSQWSUPKQURWMTWZXTRYURLQSSbea]XPTXURPPJHLTX\^YWWVRONRSRSLHJPPRQNJIQSQRWUKKNLRPRTKOOQSRLPQMRQDKPQOS[\XRNUaigZJDLINTMFLNLRROQSUUMPQNLSZXRUP@BKLPH?NYXWYTRROQMINVUSQJJFHHIJLSYYRSVZZ^YTSMGQPIDGQVTKGGSONUVKEHPU[[QLNQOOPSNIRUOLGOOEDJLMMPTPSLSXXSLRPNRVZ\YRIQPNOONPPMMQLMUPKRXRMPRTWWNHHLKMSQPS\XL@CBEMPNY]\SKOSRRTUUROJA=FMSZYVVOKJGFJHLQUQOEFMRLILKNVYYTMLOSQSXXRMX[TSSOHCEMPTWUVRSQKFFS[]ZVPLKIBGRVV\^UHOXYWTQLMSY[XNFJLD@IRXZ[VRVUTV[]^VNR[\WMRSQUSTUSMOROQSSNKJGELTQMGMUYUNGMLIPOLRXWTS\\UKHJL\^TNQOOSVYYZWYRU\caZSOMRSGBFRQRRSTYVPNOOLT\^gid]WWVYSR[YQRWTOP\_]VRQKCNTIL\c`_`b[M=8JU`a_b_`^ONMMMVZWZ^daWPJEDFLOMU\PHWWIO[VENKHKFNTRLGDJ\__a_]VQRTOEIPUSLNPVMEGKMQUYWUVQKICEEAHV\__ZSRUXZ[\WLGJRUQJQQMBHNZUQNVVSRRLIHMVXTY^[X\TOW^ZYMCJOOOSVY`daVMKU[XJ>EOS\[SRZ]ZXXZ[XOPQTSSTTZ[XY\^XQKE@LNMLMNROKLNXZWOMTVWVVMJOW[ZRTVUVSLOWVXafd\ZY][UNINLLMQTTTRQVVRWVZ[XONQZZ]XWWTUTOOQW]ZTMLOVVVZWVUPW_\PFFNSUVQQX]_ZROPOQPSUPW[UWWW[_bdfaYXY]VVVXWW]ZVY_geXPTWC?GJY]_Z[VFGLXdd^Q[bTUTZ^cc]T7,KbkpmcHWSSWR`SW]d^ORSVKLVRWV^bc[U]jkgb`]^a`_[XWYOW]ZQPRMUX]YVUVX][XVUWY\WUYV^bca]VWWXQV\bcZULSYWWXSMMTWZKOMRSKQQUXXUUMW_USMKYXWZUQNTWZVZWXZUYNYTNSW[ZYRZVMRUNQTXYVU[ZX[YWWZXSLSVZ]YXW\[XUSOSVX\^][ZZUXQWZ[]VUYWXZXUPTVX_]ZVWNYZXUUZY]daZY[]WYUWXXUXXWYXWUVXWVRQQQONWZ`]YPSWSMTWQVZVYWWYUWWUWWTTXTTSUXSVPTWTRNQVVTSVXXUTWXNPSNUVWWRJKPTQLLNMPPOOWTVVSWWPQSQS_UPR^^WWVYWSbb^QLTWWVVTPGEIRWZ]\YUJKLQXQOGA@MRPLRRMHFHR\VMMLQUSSSONLKRUOKNFNPIHMRSRPZ[[X]ckoiYJMEISRRX\XTUSTWUTOPVQFLPNKSPHNKIMOIVYYXRNNUTOMIII@HLPQPPWZXUQW[VRSRRPRUVVPJLKDDRXUGGT\TV\YUONRTZ\]YVZ[YXWRTVTTSMJJIDHW\ZXYYSMFLWZSSWXVVTQUYUNORSPTWTTTSPQRTQMNRQRUWZZWVPOOIEJOPPPQNQPILSRUZ_YPFKQTWWSUWYWTIDGPQXVOJNSPKNNKRRTQKHLKGFKRTUXTMROLLKORTPPUQPQPMGHQVTTUPLFNPLGP[YUMJMTOIGQVTSQNEFPXTQWUOVWSX[XTVSRQYXRRQQONMR]ffaSUUTOLHMOMLLQMAHPROUXURIIKR\^YVUQOSRONHONJHIONIKTTNKPROXZUMLFGOSQOTRX]^XZYRQLFMRJGQYUOJHORTUYWPOPXW[fhd[UPSPJPQVRNHHONWTMLOKHKSSTY[ZZ``WIFLR\deaa\[ZXZVNHIOTX^e`__\YPEDQWRUJCKX]WOKTO@IPQSNLPPNZ`e\]\ZTT[ZP@:EROIINNEDIJGPWVQSWXVKHPPJLW[[^^XRQOROTUVQORRMNSRKHJRVTLMRPOQQOJA=LOT^aYXYWGRUWYVNQTNNSRTX\_XPV\_]RNQOMV[VHSWXSRRWPHNQNT][WQQSY_\XSQMHPNKKPPPSQNSTXXPOOLNLPTTWWWSQVW[\ZNKNMGN[^[``\ZTPMSZVWXXRRQU[\XSS\eaWQVRSWYSVZWTSRTSSPMMKKJRZ]\^^ZPZ]THPWRNUTRSUTXQMRRVWVUX_^RORNKNR]caQNZ^_\]XPRXUQRTYUQLTPKFNVffYTQQ?R^\`[IMbccdcdeloi^>EIdtyquxnTJKSWSROJPLOSKVY^ZX^^_VV\`ei\VUZca\Z[ZWKQ[ac\XVWYX]YWQQRZXWXXV]_\XV\cdb]VYZXXTXXbb\YUYWYWSW\^]XZYYYWRMUYOUXXVWW[WYXTPYWTUPOU\]]YSWWWTNQMLZX^_XZWUSWYUZOPTRUWWYX[WXXXVSTYVZYPSZXSTTMTWZYY_]XVUTNLNWY[QNQXXXYVSVW_\TRPSW[[\[ZYX\^_^ZZWV[][WWZ\ZZ]UNKUTMNLOWWSWZ\^TXXQVVXVVW\\XZWXPNRWZ[ZXUWTSVWWSVXWXVWVXRMPRVXUTXXVVXXSOOPWLPRVVUYVVVVXWQXTTXVVTTYVQTTMOSUNWMQPOOXSOQSTPW^^TJHMORQSX^`YPKLPLGJLILQRQQRMEGNUWOGELOQOMUTUNHLNKMNLEGJMNQSQQZ^]\]`kmh`TVK?CFNV[VPMOVZ[XVXYVNRUSKIJNRSLLHW\_\YZYSNOQNIGDCLRSVURQVUNGHMRQUSRNQW\WQKOYP@LTUPQXZUZ]ZUXXYZYVRVTTVUY[WY]^ZWSOPLEGHUUOTZYUQUWY[MMQSUOKPZZTQSTJKQQTTNLPOSQOILRTTQPPRQRPSSRTUVTOKOVUPMKKOTSMFCKPNQQTZ][YXVWLD@OUPLIQSMJNIKJLMJKGBFGJOPTSRQSSLHLOONPOLJNTVUOKMSUUPRPLNUWSOPUUROIKPQOVZ`ZQSPO@=MTVWTJNJJZcaTPQQX\^YVNPMTVUZ]`^WXYTQPQMJGLOTWURXYTWWRKQSTX`\ZYWOJKMSUPMJPUSJLPSTRIFJNKLRTRMIBBJPTSNOZ[UUSJKHFLIHIMIKMKKLGCGRSRQPPLLNV\^[VLMLKIIOQVVSKFNORQSLMROMTXUVYXTOIOPW\]^^\[QNPSLMISYacdbWTX[ZSDKQUWSCEXYMAMKRZUPURX^\VX^\_\\`^ZVQPPRRXWSSOLLSXVVUYVPPQUUNLSUMHRRRTWSXYLIOTURQOOPMSXUJIJR[WUQOQOKGNPMMRJJW\VSSUSUYRORRXYVWUYVUZa`[bgg`VSYZWWX[XWWPLJPNFJQMJ[caWRMHKU][UUW[\YRUVWSVUTLJIPSORNLJLLQPKHNOXX[\YRJGEOOTWWZYWQMKKQUVRSRLRY]^ZOKNTZYW]`]STSSVVVUUUPTUSLIMRUSXXY\]]WU\XLUYUPPPGFHLQTUURRRRPW]XUVRKMLPU_b_VPUTWSRSZXSMPOS\_\\ZTVRMVZLBW\JNWefaPW^`cd\WXdekWSYK.[olkl[0YZUUWYUVUVOXUT[[Z_]XQPXb``b[UT^bb`XTUYXX_dc^YUXUWYVTOUXUWVXSOSZWUVUX^\Y][[WUTMX\`\TTVZ[YYZZ_a]XWZKVVWYXMSQWMTVWWTVYQSTTUUQRYY[YUUXXVRZPYXOWVWX_d^[YWSYZTZZMNRQSTWUSYYYQZXYXUQNUVXYQKRWVWZ\XYUXURSWXVZQZMW\^WYZYVXQSVVV[V\[XRUWU]`b[WRUXVXY[[[[\UPTWXSTQMUWQNSXZVQNUUTWUPUVVYUVVWNXYW_\YVVUSTURPTVTXZY[ZYPRVPRTTVOSVTSRQUMMWUTSTWVTSLQV[XLRX\VPOWXTVUVXTTTTSSORYVXQVXYUSS[XPLPSWTTWT]c_XPRUMCIMOOJKSSPMLMQRQKAEINKCHNRVMJUWRONKMLORKPTQLZ^ZSUY`dc`[ZVLCFNRQNLQHGQWZ[UXVTUXYSKEEKIHBGT\[TPTYXWYYXTLICIKMQRQPUWUJDCDHNTSMMRPMNSX[VPUYVW\\]WVRRWVUUZYRWYRPQT[XNSWXUTPMMMQRLKLUUUVTXZYYRAHSTOIU[a]TOKHJMJQTLKJQRURGAISPPMPROLNSYWQJLRNONMPPRMPRNFCFHGKPOPV``[STYSQPOJMOKHKNLNIDMOOPRMJDEKMJMRTPVWQIKPSPUWNPKLVVZXXRTLPQKOMKSVTQOPRSUPNNJLPV[XPPPNGDINW]WQLHCIUZXQLTVTUYYTMRW[VVMTWY[\WOQPRSKQVTUXVWXXXYQOSXTQSWOOPMOONRWUURT]XNNTUUQQRPI<6GROMGGGHNU[SMQMLJLPJJOSNMPL>CILUWRNONPONOOSNRWY`a[WTPHGIJSY]ZVSWVSRKJDLLILKOOQLRURLOWTUZ_debSJLOPRXWUW^]VPU[WUSX]abYP>QO@S_]SA9DQVOS\_YOTUXY\]^]UHS[XPMMNKEIPTUV[_\WNMQSSUMPUSKPTXZQKTVOMV[URPLUYRNTPLWVY[YURPYYSIIMIJRTQVSOPWWMOMHKTXWQOOSZYWVY[YW__YOOSUWWWVWUUVPNRULPOMNV]ZWVRMQXWYTRVZZSWZWRTVUTURKMRRLKEJKHGKIHL[`gc_WONOPJMOUXUU]`YTQPQRWZVOOUVTRQR[VKSZWXXQVVWUQRXXTKNYYQFEIRSVSTVQVORVUSUVTSNDF@FKMRVUMQOQQTVSTXRNONRWY[^abaXWXQUUVUUYXRWUPW[[YWWTSOHZVUGAXd_UQW]_e_^`hl\QGRZRgsp_M53/SUYdf`]]SSWVPY]^_\]UT^ec]\V^b_^bb\YVXVY_]\VVVVXYZY\]bd[V\^ZUUYWY[V[XXVVXX[\WXLYUWWPMVXZVWYYZUYTUXRUKRVUXTQNVULTUWRWVQPUYYYTUURSZTVWYZYSTVXUX_ded_WQOPRYVROVUYYRUYMQLSTTVVVNZSYZVXWXXVTNRVWVUQMNSVVZXVMV`^UVUURVVYXZYZWQSSSXYXV]a`VVVYYYVZ\XVWPYMTYWUWRTVTVSYUXTRUYYXUVTSVXVXYVY]YSSVVUVRRQSTXVWVKUUSUSTTWTSXWXUSUPPRTQMNPVUXWUVWVRNNTXXQVVXQQWTWY[YSNOWZUWWVUWVWUZSTWZ[UPOMS[]WMNORSQSTSLBKMKLFIPQQMKIQTRJEGOPPOQRQTOMWZZYPHMRQQPPVNQV]XQPWY^bcb^XX[[XTQKLRSACKSQOOMOKMPPJJPQLJHJKQPJEPUZ\UTVZWRLJMLLA>LNNTQOONKLNSSVSJITUNLJKTWQRRQLMKPLPUUQMPYYZ[WRPRVWOKJOSTUMHKPJIOV\XPOXZZWSRNNSOJQRUURJCIQVURSWTPKHPOPNMMMOPNLMOOUTXUQKOQNKMHILOPMNGHFJQOPPQGEUZ_]XSVVZ[UKHHKUSSMG@LOMQRMMOIG@DKSTOUYRJLTVRTVMJNMTXYYXSKSVUWQMPWVVSTQOLIHIEADQUROLHG?KPMMNKEGIORNQRW\\ZWU[``\[\YVQPQWYYZVVSRZ^ZY\[VTTTVZ]ZVRX]XPLKKKJLTZVVVVWURPMJLWUQQQYXSNDIKLGHPNLJOYVTUPOOMPNRUWTPTUPHDBKNOLKLPSOJPSOTZZ]]XXa_SJHIMNPSPOUWNPMOJKQPRUQOVYXWVUNXXY[ZX[ZURZ]XQXTKMSWSVSSRQPX[ZTVUPHMFTa\RKJQOLVYcdcXPUYZXULPPMTUPIMTRPOQTUTW`b^TPQTRSUPMUVPMOUZTMKPTUU[YXWY[^XRQQV_[VX[XRTXXPFJMOONOVZWMTZXRNOLPXXTRROPUZ[WUW\YRPNUUWPOORPLILNSVXUSLHIEMSZXTQTZ]]XWRMOSUXTLENWTS\\ZUUQIE?HQORRNDIQadcWRPSUTQFLUWIGRYXSOPSQT[[UKMRTW\]`[QXROLSRTXZZURPPQXZ^`YXWOKSTWYZSPFKSRRNUVSONJHNRNOTWX\ZMHCHORQRSOLPTQNOW^aWTTUROUV[^`a]X[Wa\]hd_ad]QPLOFFW[X\ea[[^VL]c_VKULZkwsiNA4?IXh\^\d`TKISX[`gjidVWb_ZVVXXW]eb]Z[^\ZWWTRVYXXYXYVZ_bZVX[YYUWW]bb]ZWRSV]`ea\\WYVUYYTTZTUYUVSQTNTUYQVYQV[XLOPUXYYVTKNNYWWTPVXZVVVWXVMOSVTUQOYZ_feYZVTQTVNQOPZ\XWUNPTXUOTZXVOQWVYWYXVUXQZNQUWNLSTWZY[]XY[YWRUVVX]\YVYXXXUW[[][ZX]]XUPRSSWXX^ZWLOPTWXYSSRRUUUVXTTRXKROQUUUUYVV[XUZWZ\^ZUX\\TUVZ\[XTXYUVXXTUVTZZZWXTSNKNRSSVXUWYUWXVTRSTXWVUTVSQXWWRXURUSWZWZ]YVSSUVSUPU[URMHHQWYWRQRRQQSRTRSX[WTTXTPSURNNNIDBMTWQMMQSOQUWUUPIIOTWXTWWTSWYVMRXX[]ZXWOTY\YYUIFRRGHPPUZTMRUTWSNJLNMQRMQMMJLVTW[XOY^[UKKTTOIAKGFOUSTRMJOUYYWMJTWNKMUUTNMNNPPJFS[[XVUTTUWUNJMPU[[WLHMUWVONJHIQWXWVSUSTUOQOSRPJFIKMOGGLVWTQRSUQJFEHIQRROKHADMPSWVPORTVQPNPLNKGOQVZZSJMLOQLIHMQWVONSTQPGFGOSWSNMHBA@?IKKLUTLDDPYWMNOPNNRQLLONKLSQRUVSPGGNSSTVXZZZZQLDIMLIHKIRWRKJLNOLPIGGBADHNQOOQOUVX]^__^[XSONQQQTSQPPUUPSZ[[ZUNNMSSPU[UVWZWOLD@BGJTXURNMOIIJJTSPMMRUTPQUWWPIHHMPPJMLPRWTRUQJLONHFFGHNPMGJJIKKNRUSNTUQVWV][V]deaUPRPMPSRMOPQPUTKNSSUUVVZZYVVXSSX[YTPMMFUdcUMPPLCIVcb[NNLFGKOSY_XLLJQVYTMETZ`T^agebWX\\MLNQKNXXMIKOORTYZWRT\`bYVZ\RSWVNVVQSUTX[WRVa^SVY\XVZZYYYV[`_VUVTTV[SIJNNTTOOUZZSNWWRRRSRTXZ[[WRRQXWTXVVWRPYWVPUWTTWVQMNVTMKLOQORZ`\SLV[]ZYWSRTUYVTLHMQOOSZ\\YRFJHGGQTWNKMSUOSTURRPVVMLOPLIKNJIHJNSWXXSNMQV[][ZYWUNPW[XQNOMMLDOXZUSRMQUTPQVSW_b_UPPNMKRTSXYPKTWOOW]^_]QDBFLJORVPMMQPLHHKL@O_^WDBJRYZbdha^^\]`afjpmhZROQLT\][ZZY`ecXNUUJML`N[egYLR]J>Tdca^^acWORSPUWcki]XYcf`f`XPSX[SKWZbc`YWTY^^^^XVSNQTYZVW[ZYWXTV^`[YUW\^[[]eljeYUSVYTQWZZ\YUYYUWYYNU]VYVQTWVWXRTNSVPKRVXVSLRXWYXSXVVPQUVTMQYWVZbfcYYPPTWUROMV_\UYWUVYWUOOSZXVZWWZWXW\]VXVTTSMQVYVWUY\[VUYVZVQRUUYXYXYWYWXY[ZXTYWWYVVXUVWUVWZUWVWVPRWUOSUYUXWUUUYNXPTNTWXUSOUTNUWY^eaXUU\aXV[b`\VWXVUUXXWYUX[STWTUUVNNVWTTUUVOMRVUTUWTZYSRRSNOTSPQVVSTVRUVW^\TQLRSRRJIMPSQEJNONRMRTQHJKQZVSU[YWSXWQUVTRPOE=<@MTSF?HQQIQRQRQIFFMWYRW[WVVUPHKUUSSSSMMSWUWULENZZUZRRX]YKO[_]YXXRKNQOLLLIEHPSOPTY]_\QFKVVQMOTRPWZYVOMQTUSVVTINQQMUZZNMMTYYXRLMNNS^^ZTTSMKPPIOX\XTUUWXUNHEENRSQRTVPRUYWQQRQTQHBDOQUV\[WSQUTSSMMNQSWXWTSNIRVTRYYTNTVUSXXQLMNKMUY][WPQNLOPNJNU[YUUWSMIEKORVWRKRZVDEFLLPRTVPGFHKPNLEDJLIPOOOSRKPLOMSTUTNKQQQX\_WSVSKBEIPPKKHFOTRTXXSNLNMIKINQQOOLH@HMMOW]XTUVQNHMSL@EHLPVZTLGS^_[STSMSWWPQSOTZWRMFEFILTRUUWROJPVUWWQLNOSPTUSRMKIIKHOTOGHNPSLOZRNPZWQKNLGERWROLNPPQOQLJOPS[Y[^`UXWUWWRUTNKMRRQOJQTMBPYYUQOTYZX[YYWUQRSUQQQMMQSIFFHGIHN_`WOLLLMTWZ]aVUSSMS\[XUQ[c\MX`fa\]RKRSQTX]Y[WLLQQQRSTURPRY^`]UKLUUTY[VY]]\[SS]a_USWZZSRQOU[YUYVVWVTHT\XMLTRMILSPRXSLMPMLTSLKOQY[^YSOMJV^[^ZQMQSMRTTQSVWVNNPKPSTTTV[_]\QLJSV]\SLJOTSTUQLHFJSUQV\][TPQNLQXZWSQXYVSVUWRRY[UPMQVWPGLKGJMQROTRQTSRTUXTOOLLSZ]_WNLOQMJTYSJGJMNPMGJMKGWaaZUQTRRSMJQRNLUWUORLTZZTOQSTUY[UKGEOQMECIOLZcaVMFFNQO[WQWLEQPKGSgllc`NJHJX_a_WRLLPZWTZVIFS[[LhgU9AR[dgjVRa[WWXTMROUYU__^dd_[jgj`WWXVWSQZ`ca^VXXYYVYTPVYUUXUVWUUW]ZUZ]YXYXZcb\TUZbhjd`WWV[ZU[^^[ZWXXVWY\JLNTQWUUXVVQMLUYZXWVUZWSNWPTOXXWQUXUUYTPRW[WZY]\XUOZXWRWMSZZ`\UUUUZYYUXVRXWVVXYZW]_^XUVXYWSPPOYVZZXUTTWYXVXVXQU[`\UPZNRUZXVTTXXTRTSQPXXSRSXUTXXXTXXVXXWVYVWOYQRPUYWWVVUQPMLPXTX]`]YVW^^ZOWZX[YQTV[^YYTXWUZZVWWWXTSSTWTSTTRWKQSMQSUSVVWRQTPJKVLSSVNKUTVLRSYTTNPVSLTORUWSRUYYUSPPVYUMFPTRRSSVVTOZ[ZYUTMHJGFEFKPNABFJIIFHPRRKJMV[YW^^ZTKC>LOMJNNLKRYYZZWNNPQPSXWZ__\ST\]SNZ^[UNMLOKNLLPTTONUVVZXHFPXYVLNUUTTVXYWX^]YMIPRPNMOU[^ZOCFV]^[VYXMNNLQR[`ZWURLGPQQPZXLIOMDCLORSSRRRPX_^ZLEIMKOLEJLNQW\^\XXUVVVQIJOVXTRSPOLUUUZ[ZVUXUNQWSNIMQMNX]\VIDDJNLNPWVX\][YWSLLMMNKOUSIPZUKILGIPONQND9#@DMBVQPLVch_MIVWWaY^WT^ef^[_YRQS[b[XRW]\YVVVUWMSZVTXYX[XXNPQNRWUTYXVYYTTUUXTZVW^adcc`^a]YWYUYZYTUVYWXSPQVSXUVV[XVWWLKONVY^ZRWYOPXWURV[^[ZSMMRVWYXYVWYNNX[ZVWSYUW\[TSUXUVPV\_YPTNTVXTVZ[VWPPVVYYYPQUWVPZTZXZXVRVWYZXZ\\XYWXXXWZWVTV\YZYXTTYUTTKZSXXUSVWSXXTYYTWYQQUOLUZYTWRLXUKNX^\WV\ZTTSUXTLPXVZ[TLVZZZWTTVSUUTVXWVXUVVTUUUYUPYOTQQTUVXWWXRUUQXXTX\UMPWYURUYWUUVMNTRNNMKMQXXVUQPOSVXZOPWXSQNJJNPMRZTUXXQJJISTONNKDC@EMJABGNQPPOEMPMPXYTRMLOTOOUURTTTVSMKJKHJLJOY_b^XVUYVIEV\WTNINMMKKJKNMNZ]ZS[c]OMNLEAHKNLNOOQPV\XVUPLTTSONSUWXXNAIZa`]__YVQQMPOZa^UKFNONSURZYPKJJJJKLJMRTRRTVYYVMFQQMOONPRSQSWYX]YVQQROPNMPRKECMOTWSUY\SSXZVFNMLMNPLHJUZ[VNIIMSKCLTYWVWVROOEIMEBHNROKLOLLOL?=KMILOHCHNJGJRY\RKR[VPJNUTRMPQQOONHHMORRKRUWXWNMOKMMKRWUPGPRX\YURPQQSPQQHHQUWVWTOOQSRRUWUSNNOY\WRQRNPMLRW\^[RJGJJNSTUV]XZYTPPORVQLKTPHGQTLHJPPNORYXTQPRSOTYZ\TQS[\XTRMOLVZSOKQUWYSPRLKJLKV\YSSPLJOOX`e^OX`XTRPNJR[[YYYVW\cc[RSRY[ZZZXX\\WV\`WOJRWV\]addaVPQXPXaaQ=LRYZei\NRVNMXac]^__ZMUXQG;INNONOO]cc\WSJLMIOURXVUTVVWOJNZ[\UOKNJCBHIFEEJKKLKJGLPOIKFDHIKPVUVWUQVVVMDJSNHJJNEDMNNNOHDFFGJKTZXPGDEOURPOORRLMVUQKLKQSLJWVSRRTUV^]WQX_]XWXVTXUPUXZVLDFLW\XMJJHMMFIT]a`^]WSZZVSTUWSPRGNXPMQX\ZVKENTVWSNQSLIQXULTWTX[VSPPTVUWPIGGNORQV\a^]SJRUQVXRMMRVVNNT^]YXYTPSXRMKMNPRVYXYYZVLLRRQOW[SFGGMOWWNDNPQWUQWWVZXSGJRWTS^a`b[Z]ZTMMIMORWITXSTWX[XLFH;KI*4@G[R1Z[SWedXPagb]^a^UWX\^\UOJMXae^SSVXUX]__\ZTNYZ\[UVVWZUWYTNVUYXXVXTYQW\VXQUXVVTXX[bdhe]SQXXVQNUWZZT]SRNYVWTXUWXXVRMPYX[YXPPQSWVZXUYY\YQQXTTVVZWWXZWYW]VUWVSUWXUSNQXUNYOZ\WZQUTZYYWVV[VRRSWYWWTUTMNSNQYXX[]ZUQRURXZWXXWWSRVXZYX[``UUPPXYXYYWORXWYONNOPTQSSPQSUXURRV\VVUWTPQPSVZYXW[WTRYYSKPMT^cb]XWUSSLNQRSTQOUWUVUWWXWXTLRWUVVSVYYSTVUSTNIMLNLPWXURQTWUUX\ZUVUQOTTTRWJKKJLMMLHELSZUKGTWVSSPPPNJMOJKSZXVRRRPMOOKMODGSNAAFEEIVTGCLOMPQU[WRQSPMMNOPKMT[XLNSKJPQRSRXXTTTOKQNJTTRLLIILPOQRLKV[VKNWabZUQLILQQQTUQLHFEMOQVXRSWWVNLONQWUNLMW_a[YPNOVYVPRYYTPSY]YYWRXZ[XTMLMOQPVYVSRNQUUNOSVLFOUPOQRROSONMLLNOOLIF@NWTNMNOLWVNWUQSTSPGOSRONKMKHLQNRSIJMQQMNXXYQOUUPLOTPHGMPSPRQNOTWSHFSUMIKORPIFEEMRPIFLTVWOOQPLMOQQRVSPLRNIQJQWZ][RLQUUNDMTQFLMHLWTRONSPNPLMGHPVYSPRK@EPPPV\YTRSTWVTMRQUUSTVWVWQJMQRKNVYWVYVPOPTSRSXVPKOPMJRYUTPRNKPW[\NFDLRVWZZYSMPXULNSPEIQTRJIKNOLKKJBBMPLQRRI@MOSUUZX]]VZ\YSQNNJJPUWPMRTX^abXSHM[^^\YXY\XPOSXWSECJT_]V[^YONTST]]UKKORTQRSUTWZWS[\UPTSKHX\]]]`IQUUTS[e`XWWPGRRRPMPRSONOYXSMQTSVRURI=;BEJLHPTKHMGGUZSDHQRRQLQWTSYVVQRSQPPOKHOQQIKOOPTSTSRRQNJPQTY\ZWY]RGLOWZZVWWOOLMPOJLPW\]WTV]_b`]^_[Z][WWVSSSRONECLTXZWONLIEEPQSV\_\XOPSSMLMDDMVZSJMQHQWYSPPPTVVONSWOGLRSTQSVRX[XPJLQPOSRSSSTTQPU\`aZLBKSOORNLQXZYW]^YVW\^VPTVTQPSSQV]a[RUVKE@DLONTXJIOOGCLNL<@N\cb]WW[^]WMIGPVUZ_cnmg`\ZTUOORY^ZNTT[Z]^_NALC5HN;@C@8B\\X\Y[XafXYTTVTPRUVXW^[XYYXWV[WOOSSSXbb`\VSNQV^da\XWYWWXSNRV[[XVTWVUXYZXYYVTP[_XWafgkf^WVXYYXXXYWZZWOTVNXUVMVSTUVVVP\]XYYXUSVPQSQYNX]ZRUXWSWXVSQRTSRX]ZVUY]a^XXVVSQQSRT[XWWZVYXYWWVWZWVUWRQVZWYWUVWVZZZZb_ZYYZZYVZZYY[VRTUTW`_^][WWUNOYWVVQSTXYVPLPVYYVTWTWUYYYX\\VUPPYVVXYVVYXYY_`[X[[QKRORXY\[[ZXWQPXXV[\VNMMRUXVSRXSXUVVUVUVWXUXZ][TRRSSSQOJKSUYWWTWRRYYPQTSVUWRV\\UQOSUVQILQZ[ZOKLMLQRPVUTSSWWOJNRQVXWRRWWSWVMQUSHNPEICLPMKMRSMLPWWPPWZXUMJNPGNXZVU\]\XVXWQLNSZZQLORLS[[XO?DHGOQLFMXUNIKPXX]XQMHIOOWUSRPNJEELPPSVVRSSQJKOTYYONKS_a]TNNSVUXYLOPY]_[VQNOTYXUILRQPTONOIKHENTRMOXZRMNPTXZXRRMLKIFILQROGCLU]\ROQRKLIBFMQPRQOIISSRSQOJJKFNPPJRRTXRRY_[SJTWQNQSPKKKLRW[SOMNOOKFHEDHKX^\TFGEHLHJQVSQOUSSNHOPNNKLQSWYQMNIEOKHQTPHHRRPNRYXXZSOKJPOPOQI;LPQJEMRUMOVRMRXXNTUUQPNNQTRJEIMWZXXVLPQJFMVXSZ][XWRNIDEQOLLTXVQPKFHPRSTQQRWUUSPLJ;8FQSV]\VMUXTNKMMLKJNVSQSPMFFMILPKJRONMSTQPOPXZZXQURQOPLIKNPUXZZYWTUZVWTQQVZ\[Y^```ZXXXXWM??KV^[WUOISXYTYa`WOPTOEAGW\UQSJPRJNQLPMUXSWY[ILSYZUU_^VVLNQRQPTWZXRU[]YSINX[YXSPMNJJCDNLNRNOPKIXb^QEONNLOVUXZUQRPPPOSVQPKNQMLKMMTVUVSMRTTUYYRV]dba_VJLSXYTNJT^^\UPIIPGO`c]MQ[gec__\V]a`YRPUUQRZ[TDFNORRQUQRSNQYXRRRSQMPRNQTVLLU_cb`ZYZTOINRSXXYMGMVRGFPWWQOLQQQW[[SQPPMPUVXKSTQPTZ]ZRJMPLJOUNDLU[XY`^[URZ\UTTPRQTXUONSV[XVOMCCFIIPTQEHQQD?ADDA4I^gd`[YXUWZVLFKQRNZaig\XZ\\Z^`_\[ULTUW[be`SOTVDOBFMF%*8B[eh_cbcppgUUVZTWXTQW^^UWUXZVWWSWWVXV]__\YRVX]eikg`WRQVYUUYYX\ZYRYZ[TMWWWYTQLYXWTWYW[_]ZUX[\[\[]YVW[QSTXXYYRRRXUUVYVV[WXNRUTROUPMMWY]WRQWTQTYUPZNWWRX_[XSU\`a_]VWXYSRRUVVXSWXWTW^]ZXXVYX^XVTU[]WYUWUQUY\^]Z[\ZYXTWX[`]XWYVWW^_\YYSUUUXWXPSXVX[WXRPMTUTTSUSXTRNKYXXWWWWZYUUOWTWOOU_dd][VRVSQKUVUXWUWWNWVWZdd\WUPQTVZXYVUWTTUYUSTSWSMMRWWTVSWQPUSVUTZ^[UTVY_]UTVUSQNKTX[WSTJNRWTOU[_YVSQQWYRRSRORRVWOFHJNX\\_a`\X[YHKOPPTTOMSTTNORTURUSQPIGNSSSOMNRRVWVRUUVWYXZWSNCP[XSMKF@MU\]WOMMBDFD@ORMBGMQX^^]WRPLISZ[TNQVUQNPVVTIIKKRNBBLW]ZVSNSY]\TQTWTRQSTXWYQVUQJOOJMPJBMVVQMHKRSRJCMRK=GSWRKKFKRT[XTEAKNOLQMKKLMLPSUNJSWSKFEKQVTSYXOLOSTSQNMLJGSUPKQWTY[VRTVRPTYRLNNINNPSY[YSSRMOPMNLE?KKX_aZK@@ILNTWTTPTWUJGLRQRUYUTRPRQLQQMMOTTPSVQMNSSOTSYXOHQUXYXOLKQZ[RIJNTUTRWXZ`_WMNUSPQONMPUTNKMMTPLPLPNKISZ\XRZ]WRQTXUNQYZXNRVTMILNKGHPTVUWVMFJRSRFGPTVXYQEHSVXXSQMJJMPVVYWWNQQOXZYZZUNQRQKOMMPRTTGGNMMPPMIPTWW^_]ZZQPTSXQQUQNPX\[\aa]YZZZRIJJKPUWYPT]^ZZ[^`d[QRWX^]_aWPNHRTGRUWYXNMFPTQL7RRWWLAU[M=:GPQZZSUVRLMPVVSPKQZZWOIMONLDBLLFFFJIKJLY[TMIJJPTTPQTQRTOGLUVVVTMLGIMPRQSYXOPGIPWYWUSQWbd[[XUOTRLNPRZ``\XUNIGGNZ\VNN]cd_]^^WZ^\\VNRJPX\`YPINPOPROEMUWXWVTMBFHKKFFQUSTW[[\__ZY]YSQTQSW\_ZOMIGS]_[UUQPTVPOQTQJJLQMPU[UNOINRW\[TRWZWGGQTOQRRST^daUNSVQSYXVUPRRIIHP[`WSMIJU[XZ^WNLOLGHIOQOJGZ_^RGU\WZ_\VTVZ^aLUca[Y\cXPPZ][^\ZVWbfe`XMSTNJ5:HKUDCIEEIRC_]^dkhc\]`^RPRTZ\Y]PLTZVVWQWQKRTX[Z]VOR[bejllbUSSRSTXWXXUVVWTYXVQVURSVMUPWYYWSUY[ZZWX[ZUWWZ^Y\[WTOWWWOUUVYXXVUXSUUYPSWSOKYNOTUSPZWMUXXXVOQW_WQX[ZVTXUYY_^VOSSLNQXUVXTZPRVXYXVZWZZ^\ZXYW[``_VXUVTU[^ZYZ^[VZLXTWWZYWVYZXYVZXYRTQLPSVPTXYYVWVXTQTYUNMTVRUVSRRSSYTTZ\XVXRPTXSLPUbc]TSW^`YUVZUVZ\YTTSWW\_`WSUTUSX_\UTSWTSSUUSUWSWSRMVY\WXUOPVTVRSVVSVV\\XXXXTQRIJSUTWXRQVTISVRKTWYUVSUXWTUSPOPSVTNOSPRVYXOT^_b`ZNTVSPNIGOY\\QIPUVVXVTNIFMQQSUMHIQW[VUZVWWTMNSSXOBOPQUSRLNW\ZTPURLJLMLJQNKKMYXYUSWZZUIN\c^LNQVSSSUXSKHJIHGLNQRSVXXPKSWZSLTZ]ZYSKQRZ_JHLNLQMKNRVVPSRGENQSWUNIPPI@LVRLKMMPJLVYXNAFKSVTLMPTVNFPXWRRQOJFKTV[[UZ\VKKNPNMJNMJJTTNMQRORYUKDABIPRRJPNJOSPXXWTQUTNPWVTVQOSWWWYZVPLKLNSSMOOUYXPLPPNHMS[YUMGILMONKMVRTXRNOV[VROKQQQPVYYVPINTZZVUPLINSYXUZ`\VNLKLMOVZXNJPTSUOIDCDLMH:COX[XMFKLJKPY[XSSWXPIRWTPQQOKLT\]WTUKDFJTVTSSWX[WSDDMTZ\WVVSKPQUX^_YYXWSUWTVYVSSTSSTRMJKNPRPNMFDJLPOPMKQVNSUXROQQNKOLJNVVTRX]ab\WQMOSPEKOVVUVXZ[Z^XU^\LUXXTWW[[^\RQY[VXRRNGH>=SYKFPGVXUOSWPIRVSU\`ZKMMFIPXXWSPUXSPSOLDOSPLQSMJGCDHGKUYSJILKNPSPINPVXPCHQWTQPRRPMRUUPRXWLMNQTVTU[ZVT^b]Z^SKPQLOQUZ\[VWVTNFAEMRRNVckle\YYVRMMQSOLNX`a[ZVWYZVY\YONSX[UOKJCCGKJHNWVUTVTPPQPKNVSUYQMNRTWXRSWXZZ]ZVQMJQRUWSRTMNXZXURZZWSONPJQXYXZ^ZUOIPSUYSIOY_cSOPNNV\ZXTWRUSHBKVWWRQOX\\VUWXWQOIGJPTXSRZ_^ZXMX``aacbda[a_VO_c_WZYWHAKOOLHVSXgonaZOFFC>FMD879>E[VDGRWZUPTUPHFMEHSWSMNPMIIPPNNXZROQSMQTRRMFFMQTVWUUXRIKHLSQQSPOMW\ZUTWVURUY[VKJQWYVRLQOOLLPRRMNLJMQQOQURJSYUMJMOWUPJLSWSDAFGQWSSWWNNUVVTLQXRMMDAFLQKCFEJOQHNQSQUYYQNTSIGLLRUOMCCMQQIOLMPOKORSNNQUYZXYRKQRPQPSTTQSRJHPQNGLFMQS[_]^[YQFIMKGKMQWXXTJPOPPIKR]]SGDGLSMUVV[WPS[[OGY`^\_SPYVLRQNUP[YUFDS]QHTOOLLPMQSXZ[WRMD>LPPOPQPQW]XDO^b[SSRUVYRMRVSRSVZ[[\[TNKQXUSPPNWWVQRPVYUQPUUTMNILWSLLRPJLOSWWVZ[ZYZ]_\WSPXXULPWZ\[XSTTQNMLKLMUZY[`^XQONPTXYXWTREINSWZ[\XZZ\WX]YLPZYTPORWSNPUPTYZWUQKNXZPGKXXXQS][QRUVSP\fe]WXZ`]\]][SNX^]RKJIKNPSQNIPWLJQTSTNMVUUVMHKVZYYYWJFRVSNOWYZSGILQSUVQMNPNQUWPWXQNGIGLNNWXUV\VSNUZRNOPGJWQI@KPMFS][XRWSUIIX^]VZeifSDFQ^behdX92?oqhYWRF5[USOIWUJPTUSX][WVWVQVUdggYQRWXTWWY^_[^VUMOMXUWVWWWWVWYYYSXZ[XVRNWWUWXW]bb^YXYZYUZVSUTZTWZUW`eh`QTMbpseYMMUWXUMRUU[``YSRSYVZVXWQPRQUWUVYPQVYSRROZZRVQXPSVUV\^ZYYYXbdYQRZX[\XWLUZXUWUTUWVVXVXOYNTVXZYYQLSXTOUWXY][\YYXTQSXZWVVSNPRVZXUUXYUVUPWWZXMROSTURWYZWWWW[YUXUXYUYYVRTTZ]\VT\ebZTUXW[_VTTUZTPNTRTVWUTXYZYSMOPQPVTVTTWWVWXV\]YY\VSWTTSPSROUTRWUVJTSVNUVSWSUUTT[]ZXSNUWZVPHSWTQTVRMLSVPHHJKNQSURPQJDLXVU]chid\XLCJOUWXQMOUVWWLKIFHNJJKU\_YXORYXUUYSDHKUVXOIHPVQFLOMRTMEPY[VNLFLSZ[SRSNPWVVQTXXMJT[VNMQQFKPSRUQQNLGFNQJNTURSTVWXLKUWTRSLHKPU\b\XUXV\[[Z_\XPNLONMLGNSVXSQJKBCT\VLJNLLX[WILVVNLQNTURQPOOQQJNUSLLRVZ_ZUUUTSZZTNKTSTMMSRPKLMOQMIGMROKGNRUTQLRUSLLNPLIMQRTZ][[UTUOKLMLMTVRIOQOIOQLGMTVTWOLGNUVPKKPPLITXSYXPKKPUQVVZ\[TYVWYYWROEFQOJKNSTLKNNSRRRWWVUTTURONOQLLIONIJLNSUYTSSTSQRNMLTUNLTUQPOJLMLMRPKLKILRVPKJJMIA;GNMMV]XPTYVIGISTNOMLGQYRPRPIJQQMPOTRRY[UTUQHDMNQQVXPKLMJGIGCDKMWUUW[\\]\ZTQSMGMQNT[\TMPPVTJ:FOXXOLQRTPQV\[UGFT^ZU[_[YWORXVX_XKGUYPFNUah`IFTDFOWX[YT[ehe_VKLUTRUX[TV_aQEOTQKKMPSTVY]ZVLMVWVVVTQUTSRRONJNMQOIHITZTSRUYZRKHU_^UQSSTXXWVUXYWVQW[ZURQNRUUTPRVYXVPRTQQNLLOVTOO\b`WPHLUVUUPOURKEJSWYWULOVUX]a[QQY[YZ[ZZSLQ[TRVWXWVSOPTOMGLURNOWVUWYWQRURRSSQR_`[TWRNOTUSMJLRPLHJNKKY[PIQWTOKUVLELH=KSUVY_[VGJRQNSPTPGEKSVRWXSRQQPW[XTTVURQMNUTLVVQJVZTPOMNSVUMEJTWXYRNFBJPRRO@EGQIPK^fbYZK:FYdflleXB;8clh_[G*%XRJMTRSNHROQ\_UVab`\UY]_]WNWWWYSUWVSXZOXQV[aa[UNSUSU[[]\^]YWXVWYWUUZY^[YWZXXacZWVYY[WWTVVY]efiUT^e]SSTVWPYXYPUTMV^XWUVWSUSVTLLXOQSXZYQSXZUSXWYMLXYXYXVZWXZZWYXWZd_YNWXZYUQVYXYYYZSWYXXZYWYXWWVXY\_\WXVSLPVVW[]]ZVXVUZX[YYXVVYMUUUUSXTSTW\XUZZXVKYPUONWVRQQYXXX[ZYVUVUZVWWTXVVWV[[\[[VWchdWVKLSUWSSSXTRTUW]\WUQOTTWPOOOSSUSUSUVW\\YWYVVQSTSJOUVURTTZ\]WRVWWTRUWSWTWTPQNPSVQHNQQNVYSMRTUWTQLQRRUXVHDIHOUWSV_cdYTWMFOUYYVONPQPUSLJQSOMIFBS^`^]YWVTQYYP?HOSURSSTQTNKSYURWQJT`]TPNLNPPRRSUQPTTUOLSYXPSVWVUPIELNOJGTXPFFLRQRRULLKQROXWTPOORTRPONNRVWZVRTSOPOPRLNRVWRTVQQPTSNFDLGHQXUNJJKLSSUWVZZSUVXVPOQROVYVPMSUPGJNSTTRUOKKX\WNMSXUSMPQPPQKNQOJGNQUPNQVSWXTOQHIMNOOLRXWRTUTVSLSPLNIEKUZUNLMFJRRMKFHLSWUHPPRSQPROMHMLJJVWQLOPPST[]a][WXZ[RLNSNKMNONLSTLLWURUQQTSWWNLRTONPUQFHLHEJGKNRQSSVVSONLFKTTQKNSVZYPILIOTONVZZTQNLOQTQIAAILHIVZSFLTRMNKTYRFMRSY\XMMNRTZ\\RJNMPQLEMVUMNPSSQVVOPQPJKILIKQU[TNRUZYTTUQPRMGMPMQ^`ZQSSUTKGBCFRRNG?JPV^[URPJJMUOMPS]ZIIJSele^UUURKVhkg_YQRNSTOOOU]ZZba^YXVUOIHTWTLWUOINMLGFAFHQU[^ZRNPVYYWSRSUXXNFFKPSTPLFIIPVVSVXYXWTPX\^\QNOSWYWVSPNOIRY]\TRSTPRX_aUNQYUPNIFFGPTY]]UWacYYTGEU]_XXY\UG@KOLFNPLKNQSXZUOPOVVZ^]VRPW[YPKLRWURSUUWUPNMRSUPHQSSVU[\VMNW\`c_ZWSWRNOKLQRQTXTPRTSPSWSSPRSKLNSRTYSKQUVYXTTSMIQPSSORXYXVY[WPPNKHGIY_^XSSUUQNFMQGISRRPWRURSOS]^ZRSZZWRLFC@4MY]WSN\\ZTCD_`hcWKAX]\_`_YW74V^a\KA_aJ%TNNOVJRJPJN_XKX^]XWZXWNWUTZZd]TJVSUbd]Z^_\]YUVUUXRYddaabb\UWWYWWUVYYWXYTVXYY]UVUWWWYXX^^YW\bgn`_[TWXNNRNQUVVPNWVUVWUX^]SMQSRZLYQRURPSUWTZVWY^^ZX]^\YYXTQPYRVTQKX[]XXRXXTNYQ\_^YZXVVYUWUWZ\_]ZVVWXY[Z\YTTSQUTYXVZUOSXZ[XZTSVWOQWSQSVOTVWX]\YZXURVYLRVSXZUVRTYTXVVWRRUUZWXRNSRQTXWX`fec[ac^XOQOVWXXSNSTWWVYYUWXVOMTTUWPKTOXLPOQUV]_VVYTTNLSUVQPRPNNTW\\WKMSTSWWVURLPQRLQQZ[VLJNNHPWTSROKQVPHPSLQUPEGPQSPT`aVWYOPVXSTOSTSLKRUNNMPRTUOORLJRZYSQTZ^WRQTHIONPPMU\YX[TLPXZ[[WPQVRLOLNSNIPSPOOWYUSOHKMPLSXUV[YUNPVQLLX`XTXXVRTXVNMUROJKTUMFDPTVUUSSOHPUEDEIMNMKLKGMH>JQTTONLNHEJLMUYWNLHIPSPUYXWZYTSY^XOQOJJUWTPQROKKKQMMQTRMNQSPQSVTRPMKLLLJNQQQMJGLQPKMMMPWRMJFGLLOUTTYWORQJRVRRRRRTLLTWSIEIJJNNKNPQPSYXYVWTORSURJGOQJCPY\VJALTSQY^YQMSUQOSQTZVQLLLNQVVNT[WOJOKMNWPKMWVOMRYZTMMRUME=DIMMQRROPQTTTVSLM@CKW^UPJIOXLLUZWNAFNQONJHCBIQRQUUQKHMRVTRUYTDDFHLPMNSQQRRTXXRRUSOCAHOQORQUSUY][\\WTQTOJJSSXYUIFNLDFNOPNQLINS\`bZWSQRURLNGBBILJDIMVSOGEINPGAMQSTTPKKLR_fa][ZXGIU`b_Z\[UWVSEJT\\\XWOIMOVTLKITONMILROQTURLF@HNSXRQLMPWWTWVSPZbZOCFONNQPFJRRTTQQNRVXURSRVYUOKKRVROMKJJIHR[]SNSSSTS\_]USSRLPNLPWZ\[[^]\ZXY^^XV][[\ZZZSKHSYZUTXXQLVYVYVOLQUSP[][YWTWYTQRRTSMPSORTQLRXWRBFPVTRRZdaZTRY^_ZSLNTNPSPMPTWT[[UU]\URQOKBDKLJICNZ_\TTUWVTKOWWQOQSVRRYVRTWYRHEEH>AGOVXTNQSPJGEJWYPOWZ]Y^aaVVWY[]]Yaa\VSPPHGSW]SQZ^]JLLQXbikc[[^YLPJRRPNFNWOFECen]1KIHVSPMVNW\WWUNVWMSZ[`WSOUV[\b`QPWXaih`W]^\XTV\[YWQPZXUUVXTWVQSXUWYYXWWVYWZ\[\YYZWYWVRU[\VQUV\el^XRXLNPMKQVVLYSYXUYVXNRWWVYVQNRXZWWYOPZWWXZXZ\[\XWWVTTZXTTUSZYLYPWVVXVUWXPNVZb]VSVYZZYTWSQUVXSNOUVX\_]YZXUPSVLTRYQQSYXWQTUUVSSYWUSTPUWXWXZWUWWNUVUWXYZ]ZYUUU[XVUYSMONUWUUOWMLMUTSXdlokbXVXWXSPUV[[VOOXXZYYVSSWLKPUUYXTKTLNSVUSUXYVWSUTPVNUWSWVTRIMTTSSRLVQUVYVYTUSVTOMVUY\VNIOVSPOOOWUBN]YIFLKJIFCLPQRNUgj`STSOXVWTQNTSPITSQHKMMQRSTXZUUVRNJCS]baaVPMPHKNOLLIU[ZRRSVVUTOGCGLNNUTQNSRROPSTRMFOUURIV][VUYWQLORONUWURSTRRRPOJOWZTQJOWWMGLPSWWRNPOOOHLHEKQLHOWbbWIKPSSUTSVYSPMRV[VMINQX[UTXVPMKLLU]\UKNIHMSNJIJIFJRSMRXZULKNG@GNNQRUSKHIAAIOPMNGDCOTSRSPPLIFHHOQPY\TQUXTTSIINMLSQTVPMOSVRRMOOJHCGQVUSPWURRUUTOLNNW_[RMUXTMB@HRRPQWXRUXRFEGIMMKCEKMLOSRPSUPJOQLPTSPJRVQLFJQYVJGSWURNLIKNPUMHHNTUWSTVSJBJT\WQMBLRQPMQMLLPQHBDGFFGNUTNJLGEHLLSUSZ^`YUHEOUTYZUVXZZ][TNV\ZSJLE@KUVJCGKDEOSPKGMMWZZUQOTSQQOPKJRUTSPNWZSHMRTUPLOPVZ\[POYd`VSWX^a]ZW[]__`^`_[_bc\TNSTOQY^\ULM[\YSPNLPNLRQTYYPHMTUPVVYYXTRV\]]XZ^_ZWUXVMNMJNNOQRPYba^WQLGHU^c`\VUWYWQRSTTTYZTTQNMIPQOHPVWTPHIPTLNOHJNJJQTUVVMIA?FNONPNJJNPONSRURPMMSSU^`WNTWSSOKHGOSTVUWWGGTSSZVUMY\QBKN\bYNGT\]XJMRQNJM=ALIRV\dLTSG3)?G^NUW^SYVSS[`TSKKWMUJKWZ_^^abgfY\\UW`fjlcWVMQYW^c]XUPVUXVWTQV[WXWNMNVZ``^XYZUTWZ\]YVTWQVX^]\ilhUPPTZ\XY^RUXZYVVVW[WYQOQYWNSWRNUWWUTVQXZWZWYWRQUZXZOZ\WXSUXUUY_^VUXaac[WUUZWY]\WZZZ\YYVZ_]WUPQSXXWXSVZXVW[`]VZY\]\ZWWVVUPQVWYY[XXYWX\XXVPNTWUYXXUTVXTTUUXVYVUYYQPSXUY\[Y\`XVSUYUZ^jnh[XXWWWSSLWUYUWTWYXTW[_acdZRUXUXTMTWXTXTWNMSSUVXVJLPRWVSUTRWPVTXTSWTTUWTRQURQPWRVWSQQOKOVXSVUVXSKQVZWRPLMRRLIRTQLO^`\^^]SROIDHLJDHLPPSSSLGKKKIFFNSVZUNHIEP\bb]]\^ULMRRKHNRSSVROQY^ZTRQNQVUPOLPVWSOKHDBDLMNPSPMTVNPRUYUTTVUKDMRSQSRUWWTUWWUSNPZ^a^RWXQNDJMRWXWPJKOJU^ca\UVVTQTQSWZZURPIGLPJJNRSPNQUTTTOLGLWZXLHNNKHKPVTNMQRSWTPMNRPNQPOORSWZ[UMEJMNLNORUXSNRY\TNPO[^]X]`\TU^caa_ZTKOUVQTX[YSPOQTIJMOPLNURMHLNPMDMQNRYXSPOORQMSYXQMTTNLKKKIE@GU[XUQMKVUUPOMIFLV\YWVUVTPHQ\`]WQNTUNOT]]XQKOQSQPMJJQRQFJSPNPTQJPWWOA=KPJKQSLJOSUQTXZZUROONQTQMNSQQQIEHRMOU]XUVYYUVZ]YXRPPUVST]\WMNSUXXOFQVQOTWWQQVUWTQLJLNRUSRSSTTUUOOTYWVX_c[Y_acZZZYVPNJLSYX^UKNVVUPNGMSPQZY]^ZUZ\X^aZUNXKBTSNZ]YO65FSbcSSOLRTQQQJ@ILCCIUVT]VPUVOEJOPPD@@GLUXTILUZZWQMQUTK@@FJILMMMVWUTRPNORTW\`^VKMVZWUPMMIRYXWUUSOPQNIPQTUPHKPXZUKT\`[VTPOPORVTQS^_ZY]YV[\WIISWQJOUOLOSXZSQJF@>JNQQPSTSPROFJPUY\]\\ZYXOOW^^[TPRQKLOPPQRSQHLRTXZTMGFOXY[WNLSZUWWVXWVS[XVRNGLTUOMILLPWPHUZRPNDGMNFMQPTY_ONMCBJQUWPNRNHMRQNRUR[a_\]XRMWY[[[QQNSSOLOSVQLNUURRVQMSTQFUWQGJ8G][WEWbc\ZYUKEORWTSK797PV^P#Q^jbV][RU]\YUXU[X^[PU^XRVY^`WTVKVZ\`caXUYXUU[\]__^YUTTVTU[\XUZXSPSW\`_^WWUPYYZZTNSV[^_^\`ghfbUULWRZYc^UOUWUYYWXMKYUVTOKSPXPVSNUZXTWOZ`_[UURUXWXRWX[WNVUTXWU[\UVY\XXWYXZRUYWZVUWUPWUUYa^[ZWVVTVXUTV_c\ZY^[WV]][X\Z][WYZUMMLNVWW[ZYZ`]XYMLQTXYXVQVWXWTUUQQVWZYSTVVUW]^[UUVVTUWVX^bfaWVUYYUSTUOTULPRWUPVSUTW\`\WTXWRKOQVUX[YVQPOKUWUTMTWUVVWRTWRPWUTSVTSVRVIMSSUTWSLUXRPTHKU][ZZXVPPMSROTWXWSSSHILOSQIORPR_^XQKGIGLRPSTQT\^YNKQJJLNLRQNLB?HPQJT^b^[]\VHFPQPOPLFLRVNHPSQPPMGPVURPGARWSRMJFFBGUUXTLJSTQXZZWYXZXYPLLIJLOTYXTRTTWVTRVZae_YZZWLIHNLLPRWNG=DR]]YVSUIGJNMNVURMFFJQNHFGNUYWVSMMQPNILTWUQNOSWQPSX[VQINX[XOKLKILSTNKKOUVYYSNLJMPOORRWUQRTWLIONW[[UQYYVMQXZaa][SOMRRPQSTSMHLNFHMNGIVXSNJKORQOTQKRSWYZTSZYMMVVWUTOLPPMRPJLTZYTOSOJKNMQOOJLPTWVUZURUTSS\^WQMQWVUROV_]UOMDFEEHJFQTPQUSPTTRTPQUSPLDBMOLSZ[RQOJLNVZWVOQPOMLKJNQUY[]Y[SOLMRVTPMJLXa][VURRYZ^_`\TNFGP[XMGTYVSY[VRRY[VUWQLMTXWTQNHLWXXWUY\YWYdkkc]ZVRJIJEGPTSOMPTQFLUVRUMNWZWYYUQTUPSVUW\XR^a]PLKIY^acV?8P\\UHIMTQANZXIIGNIS[\X\XZ`aYRQRNSRQKGGVYWVSUYXUSQOPRLF>KVRSICM\^][ZSRUURU[XQIOSZZVWUUPPPVVRQWZVPRO>@LLLKJHKPTQLKQW]\WTRQJLRLJT_``\][\^[XXZ_`XRMJHGMOPQUZ[TMFGUUTQQQUQPSNLNOSUX`cb^\YUVXYZZTMIJMQQPSTTPLJQRS[YSJLQPVYXQKRYXYXRX]USTVSLOONPPPOKHKPVRNWZVOICBOSRQRWX[\[VTQLKJPVUMOOJNZ^^YUQbigafg_YJGQXRMSNMPPB=FWUTRQYVTZWTQZ^T[bSDNJRXYWTOKXZX[[ZXLQXJBKRHEAX`KHH]jqjUMbdXR_]QLLWbc_SQ\a_WTZ\ZXVUSUWXYUXUWYSSUYW]YYXX[XUVZ__V[^\UVQOXW`_ZZ^WTWWYYYXW\UUY[gle`b_WUWWUPUYUKYTXXYWXPPRSWYUOPXY[]\YVWZSWPS[ZWUUWbbZUSYWZWXVXZYYZZYUVWWNQVYWNNWXWXURUWYWUUYW[XYYVXXVVTZWW\ZZZ[YVY``XVXXVZWXSUSQWYU[_b_ZX[[XVROTRUX[VVXWVOLKQPPVXVXWVXYWTV\YUYTVUXVTXZZZ[TRWWXYX[XVTSLSXXUMNWSSU]_ZPMTWVKRWUVTVVUWSMVOUURUVZYTXYVWWUSRWULTRVUQVJQVYYWTTNOPNOLUW\\YRRSQTMLTPMLTZ[WOIJLLRQPRUTJNV]^[OLQLJRTQUOHRUSOVVSLONMSYUPIABJNQRTWXUVXVTSPNHJMMMU[[SNNONRSQLQUQOQQQW[[WWUQMICLQPPMRTQMTWYXYXWUQROMEFGEOUUGEHRYWVWY\\^[QMSTQKRXWQRNQSSSRQQRPX\ZUOBIKMRTUONMJKRRPPLHNUXSROVSNTQPVWQMOUYYYYYUUTPMOVWPNSUPPOOQPPOGMPQPUWSRSUQRTTXYYXQJFHLNMSUSPS[ZRQUSSZ[ca^[TQNLOKMORRTQLTWRRYZOOQRTVUXYWQVWRPSU\a_SNSZWTPMSXYXUJGPWTLJQL?=CHNPZZYY\VLX][UXZYVVVVJOWSTSLEISO?PUSSSOMQQQXXVRPQVZTMNSWQG=9>KUSTX\ZRMJMONLKKMQPQQQNVRRW^_]__]XSMPRPILKPW^^[SOOQSVZ[XSUSLFJQPH?IXZVY][VWPVUNNLPTQROIMMFFOWZZRNRTUT\iikgbRCIKOMHKNPLHPUQOQ[ZVQTIITRU]^WPONNLNPSQSX^\UPXYZ_aaUC?DRLGVCFNKH)=WVSSOMMQSTOPSZab]UX[USQOKIHLUUVUVWVUVQQSOOPLQUUNA9LXXWY\\X[YZYYXNNTY\YZ[YVXXWW\ZMR^]VVTINQSMHHKLPNNMKLPVZX[_YVVUONV_cb_ZSV^^^X[[ZZWQKNKLJJLQTWWTPKPURJNUXPPUTQHGKZ^]_^WUX\]\XXZVJJNUUPQMORNRX[WRQYTPMNMSVZYRSQMPQOS\]VTRVWXXTMBDQPNQQVWQJSVOLRWWUSUUTXY^^VMRVPEKWXPGLRNP]^]UQ\fa[ejh]LEU\VXWOSUVUROX[[VFIQWVOMLYZW[\[\\SNPADJD.Rflha[ZOZe_OZ_TMBD;@BCEbgUSWc\SSV\ZWJUXd[SMT]^^UKP[YV^TXY^b]XY\]\\YYWUYZ`c]XWUZ_][\ZX^[WUYX\\^_c_TUXYVZW]^WWVV_fb\\]W\\a`KRPQPV^VSXXUQTWVVXMNY\YV[[XTZOQYNTY[[UZYde^ZTMQVYZZWVXVRSTRUSWSWXUUYZVVXYVYXVYVUSZYUXVYVWZXQRXVX[]]Z\ZYUVWUQYVVSVSTUWPORMUWYYURTVTRUUTXYXVVRSYVUSRXXWWUSUZYTUWPORUMMTTY\\XUWTZ\ZWMKPVUTVTTUVTURTRPTXXU]b[SOT\TVTRQUTWSWUOWIPRVVVRXYVYZWSTQOSQUTQMURSNQQV[[UVSPRORSXPP`XSSQTTTNEGPPMPTUZYPPRLRQRSURLQROTYPOWZXURKNMMLCFQX]TMONNV]\UTXYSKSUUWSKQUYZ^^XNCGOROUWYRSRRRYTMKDEMQPNOY]ZWTPMIFOSSMPXZTMT^`]YYTPMJIHNTTNNWRMQSONOGMV[\ZYQHJSRJIU\\[TRRG=OOOQGOSVTROLMMOUXXVRMNMIKSPONOKGDIVTTQPQSRJGHJNIKU[YUVUSVVRLJOV^\TJFJNH8KVSOIHJHMWVQNHRVZWK@?>FMQUXUOPUXQPTTUQU^bfc^TRTTQRXYWVUKO[VJJJKKJJGJQSUOQSROLJNSVNPSVVTSRTRNOSNNGIQQONQQNMPRQOQUPW^]SP[XNPVQIEMQSUXWUTTNMNRORQONVVTSRJNSUVTPSVUNFJWQGCJOIKQUWRVXSSVQPSROLRTTSRQ[]Z[^\TXZYUPMUX[QGOKKKPSTSWZVURJJMQVPPOLLMNIKSWVSSUWYSRRNKPLGLMGNUSLLRVYSJMPSJMVet|zkULPTRGDILSRFILJNX[WPJTTWXUWRQMMHLLGEN[_bhj`WR\^adTOIG?@ADLXKKLB=JPV^UORW]`YWUVTTXRW_a[USPMPLJPRTMNSPPURQTSMLSYYQJ;DT__[U[]\]^[Y[ZZ[WUTMOXYZ^_[\[ZWUXXVZ^SUWSMHGHQVXUTMLSXWUY[^]a_ZTUZUZWWV[dfe`ZPQWZTKJIKPKHPSWYVMKSYUNQUWTU[]XQMDO[YYXRNOOSXWVUONOPRNMRUWZZXUQPJGUUX\[SQNU]YURRKMLJRWVSUWZRKJNMHMPOKKNPNLOSQZ\XVPNRRPQZ`[RIMRTQLOQPNRVOKQUQOKQ\SJY_YTFH[^VURRYZQPUUY_`^X^a\YODLPRUYZPT\TPOPHF>:Oafj[KPW^ibZTa^^eR5(%ZjUJRXYWWTafZWVUWb_RMRcd\MSWWUOVUW\fb]^[X\_^[XX[_ab_`_XUWZ[`YWYXVV]bcc_\^]X\]UUXVTVXTVV\djmj^XYUTSRRRXOW\[YRLRVXXUUYTRRXXRTTWORWTZOVZ\ZROW[^[YZTQMQX\[ZYWYWU\YXV[ZZ`aXTUSSVUZWY[ZZXVXRRVXZYUVVWYSV[YZVWZYWZZUWUYVUZYXVVSOZLYQOPRVVYXWUWVVXUUXUXVXWUUWXUOVWVXOKMQRRUVYVWYZ][VQPY]_ZYXOSUSUXSWVUTROWSTTXSXZ^\XU_b^XSXWWZYTTRQMPPOLOXOUWUWXXUTPOTWWVVVSRSVWRQUVSSUQSTWY]UTRTU[YXMHQOIKTRSRSUTSV[YOINSQOMQTNTTPLTTUUPRSPSXQMNXZQHGINUWTRZ\\XRRVWZWPSUTQ^^YLKRRPPPVX[YXTNOVXZQJNTTLGQXXVMFFB?MYXSPUYXTX`a[\\]VQKKUXXSNNNJS]\YMFLMQUTORWTNCDHIOWVVRTUF@MOSPU]]\ZPGJLRQSUVRHJSPNKOJPOLJHJTYQJRRNPTSJCOXXVURQUVRQNOONPRTZVQJLQNCLSQMOLMTSVTNHEIXYWPKKHIMPWYWROQRNTYWTURQZ]`YJHPMLOOQW\XMOWULEHNTRXSIHMIDFD@BJNSURMILTXUQTXUWYKJGFIILMIMQUXXZ\^SPQQNVSKMSXTKKOSQKLLRMPVXWUTRQOOQTSRURLNQSZZURHJOROHOTTPLQRPMNY\XUTQW[YZ[XVSUWZUTXZc`]XRQV[TMKSV\[ZRHBFLRVZUXYVYYRJLPTYYTPKQVTQMOPPSSY\YUVWTSRGNLEQYWTPUSXZTVUUNLR`rxyoe]XSPLORUUSICHJNTQXWNY`a[UXVOPPOOMHP[beahie]VQ[acUSYZNN?;DHQNSKNXVVKGKMSXWSVVSNPY^`USNEAGOQKMPNLIOPOMPY^[SPRWMFFAKWVTNQW[[[WSTUWYYVQONJJJPY^YSTMOUWZVTTX[\VIHKMOSUZWSSSWVRT[\_baYUZXTIHPVX`gg`[URWZTMHJKLNTW\XVRMJKTSMJMQRPPPLNRPMSTSTMLICQVWWTRSOTWXWZZV[Y[UJMLOQUZa_XRNU]ZQMHCPTVTQSUSSQNOQQQIMMTSMSVMIJFM[YTRSMJMFGQYYNORSUVUOQRQQYVTVTTQQX]ZQX[XTNKT\WTPTZVSNTXWS^baed]NIORXVTXXTRSXHR_caTKWZ_^UAUigZKFF]cae_K60J]GP0`edgeghqg^V`^[\b^XXa_NJUSWUTSUXX]\aa[XY_cda\WTUXU\]WSUUVYYQLRX]_defb_cba`]VRVTSVWVSRW\dnm_X^KUPNVXSSWOU]VSWVZWTURUQRSVZXUTSTUXRZVW[[WVUZ\WVXYYZZX^\ZYWTRZYZTV]ZYaf_UUTTVYSMQXWYXXROQRWYXXVWXXWZZ_]VUYYZYWXXXWVZ_^ZTZYXYQNQYZXZZ[YY^^_ZXYUUUW]_^XYYZUSXUVSOJVUYVSSXWTZZY[VSQU_c`ZTVOQPWYXTXXWUTUWTTSVVTUUZ]]^\VTWRUVVTRQQQUYXQNJRXWSXTPNOKOWUWUUSTWWWQOSUVYWVRRRUWVUSWVSVTQGMWWTRSQOTTWUWZ_^XTVQMPLT[XXZYVOLIJPWTFGTVQRTSMMCAMSUNHNLGIINQNPTXUQIKPTPEMPQHHIOVUVRPMLSZ`ZSJQWRGDQTSOMNOMORRPTVWXSRSVUSRUTQRWXWUMMKFFR]ZVNNPUYQIIKPTPNKOORVNOVVURMJOTPUYZWYTMLLPSPSYSHGQRQJIJNSTVSMQVRNNVVQTUQIS]]SNOQRMKNPOQPTMHKQWWOMNPQPJIORRSWPQLHJIMUUSSSRPJGJRTSTQEFTZWUOJKOWRMONSXWLJQTXTMKLEAJOSPQPWSTUMEJLHDEIMONMGFJPRNMOMLMQQPLGGPKJKGNSWVXWPLORQJJOY]]ZWNPSY[W[]ZRTUSSRRURPRWVRQOJJJNSYWPHBLPOLOXXREGJNNVVUVXSSUXUWVWRSTYZW[^`Z[VURPSVMAQ^`XVVXOFHPNMPRUWVYY[WQHMOOUVLJLJJLFKV]_aeYTRTSPRTURPW[YVUU[][TPPOOOQZ``_X[_YVNNQPOOLIKOUXSKVZX[]WRLJPPQQMKMJLPNVbhffgc_UUZ[T``_UMFPRRJJMNNNIFJQPJOTPMZXRLKOVRDJPONIU[]Y\_[VVPPVUZYTYY[WKHGKQSPHMX_[[^ZLDOROOUTOMVSOSZ]UQQSTV]^\NIPV]^\[ZUQNLZ_^[\XSQOX]cfcZYXUQQIPXW\cdcb_WU[YNQVRNPPVWPQRVWTQQMIJPTXWUKMSWPPQRRTONRUUONPSUSPY[[`]RNPWVVUVWWXY`_UPMQ\_ZTLJV[XRNMOONSTVTTPJKNRRPY_]PHQW\UNUWQLRVQQPHKJILKTYPOQOLNSMMOMT^dc\TVXWOOVWZZVOSUSNKFFLOX_WUYXGLPRNQHNUVQSVSXbabVR[YHWUIbkkg]LCUe`XDQVSckeJMi_bb^aemnbabgZUW[ZYYWVTLKWWUXZ]YXZ\\WPV^_`_[XNTVWRUVVUWYXYSQU]`^[ZZ]adabb^ZVTMNUWVKOVWVaed`cbSRTOTPVUUPUTJLTUSRYVOVYNUUQTTYXZWVXUQZ\[VZYWVX^]\X]d_VVYWROU]`\YUWX^_XWWTQYUOXLWYWUVZYUWX_][[YQRZZ^_]ZYVWZVXX\XZVTYZYUXYWXQUZZZUYWVW\cc^YXYYTUZ\^ZURU^a]^YVTTUUY^ZQLOTRYXTX]VTTZ_c\[WQOQUTUW[\VVWVVTVSWXVWXX]XVXWUURRVVUVUVVX][RRVOMWUWPWIRIKWUQMNRXYVVTRVRRWSPLRONSXURSNQRRAIRWURXSLLSVZ\ZY][TY_XQQQU]^]WVNOGHJR^YSGJRTRKIMLFDECDHLPPNMFIOLHNQSIKNRPIDHOURNLKNKKPNNPOYXUNJNXWFCMSRQSQORSUSQJNRQMMPSUPHOSPUQTQQRRQQIMPSW[ZROOHHLSVNNRSRRX[VPSSPRPNQSOUZZYZ][SPUUUUTTOJKPLNMPQW\_\WOPVSLLLSVVSPNTYYQQVVLJNY[WNIKKIHLTSSOZ]_ZSNMOPNHMOMDBIPMSVUUSSRQGKMMTSI?HQWZYSSTQJGE=GU[USW[ZXRJHKLKLPQLKMW\\RJVXPJQVVLJIRSMLIINMFBKVYSJJPSSROTYZVWSRQI@JMKOQX^^\[Z\\VRSYWYVRRSRLKMROSRSUVTRPLKOSRLKLOOQRVXTLLPMKPTSUOMMQQNRTRRPT[^YVY[XQT\]XQPPMS]\XUVUOBPWQJMRSPLNV[^]VQPHOUQQSOONLMU]`ecZNKIOUQFIRW`_WQPSUXXW[YUNMFLWUPNKMROMOWVNNNLOQYZUOPXYYXSSJJRRMKIFTZWMEOSOTYgnkeWYWTZXTPIT[]YMGYYXTK@QZJJPVQLTXQKMJIOKGMMKIMXZXXZ^]]UKTTSIN[a`[ONPPURQNLX]XQXUOIJPKRTVPOQSPPXZXPPMLP[][UNOQRWW\ZXTPLQ^a`_ZTWWU[``^X]\TRX]]YVMUZZ``Z_e`YTUQQSRPNRVZ]\\SKMNQOOR\[VMSUOINTXVUTWWPMEHRTRLRWV]\[[]d`XSNLQROVXRJIPXZPJNRVXUTH=JRVVSRTOPNPUTONW^`[WYYSMPWWSNSVTQEEPSOGCJSPOPQPMKEIKKP^e\SRRPQRVZUVWVYYSPQF:CIRY_VFQVTRYQRNQNOYZ[YTWY\UNIRTT]RTV^Z^\Q;@R]Q@OOPgmcF[jSQKMKTcfg\XWMRUTVXWQX]XSUPT^bZWWTWYVNWWWX_^XVV[ZXYYYVWVTPTVPSWTUVVU]aa^_[YSVVVSSRVYVUW`egc\XWXPJYX\UONSSOXPYY_`ZSYVKOPNUYXXTKU]VZ[^ZYVXWXXYWZXZZWONSVXYXVUSTVVZYXT[aWRTUXQSY`_YXV[\WUVWUTVYVV]a[ZZYZ[ZZZYZ[WVTZWWOQWWTSWXWXVZZZZ[b`YXSWYUTWWYVSUZ_ec_YUWUXYXVXOKQTVUUUZ^^VTS[]afd[TLMOXVVYXXUUTWTVRSWTSXVXXTXUWOUUTTRTXXY_YURTWUX[VTPRRMOVWSRVVSUUSVWRPQSVJTOLIRWVSQIKSWUOZ]ZWYLGNRTY_ZTVXSRRQNEGKSXV\\YSSGESZZVQMNXVQHNOQQRSSV\VPMKLOSPIINLOP]\TMEDOTWYUMRSSUTWWPSTQNLPXRMALMOPSKOQNRVRMNPPS\ZPCGLJNV[ZTOPQUTRLPMLQ[YMBEKLW[[X[^\ZZYZVMJHFCEHJLQTXUSV[WWUVSHLMMHNUQRRPLQVZZVVNMTSNMSWVURQPLPSTSZQEHNQTTONRSMCJSWWVVZZ[WOPV[]TQKMHBLUTTVY[\YYRHNSQPTVRNMNORRQWUTNLDDQRRRWab]ULHMNLOTURMNT]\VRVYVQYc_UOGMQLDGGKQMJGQUYLKIMRQUPTPMVY[UQHRYXRGQU[YZ]a_WKJKOTXYUURNGBIPTUWZZ\WTRONSNLKQX[YTMMMNTTNQLJPURLIMVVOMMMNLRROOOTVPW^d_TMRVWVQLPV[RMQURLPOIBFQTVWX\YSPNPOST[VTW]\[YWKGIEISYTNMPQW[WQSRTYWZaa]VMGEOTRURPNILHNOPSVWSRY]VSOSXXTSPHFMLGELS\\XNGPRJDUWY\^USSVQPOCPZ[^WEANWUW\]a_WMLPRPQURPTOMRUVQJFLKO[_d[\__WUUTKHRa`[SUUSRVYWYRQVXROQQTXWWTRLMPRXUQXZYVYVOLUXZ\^VVVRVTQJPV\]]]bc]VX[W[YVNRTVSPU[\XOGQZ[[YX^aa^ZZRNPIJMWWX[][TOPUQLGQXXSTVWRNPRSWVOORRQNMQWRRTVVTVVY^a_WOPTUTRTWXTW[_XOJSYVTZYRIHOTRQVWXWUQONPVWWXVRVSF>EKOMKJPONJGMTWNAIUYQBDMOMHGKJMW]ZRLJKKScb\SJKY`ZSNNRSRJRYSIONORSUMHIIDWYZUNFPUWTGCKT[VCIKKQIEIX^SEGTA:X]J-RdJ R\_URY_]UUOUXVT[XRVVSSTWXbg^VW\YVUXVXV]ccXSWVWVYXWVTYYUVUYQQTWVWVZ_c`WWWVWYYVSYWUSSUX\ca^`c`\LXV[VPYPONKLPXXUOMQPTWVOXVTXXY`hdZY`\Z[[Z`a_\YVYVWVRSWYXVVPZWMSQNTW]d_WVUXWWW\^ZXMW\XVVPLOXVUWVYYYZZYXYZ[[[WVWVNZPNSTXWOSRZRWZWWZX\\WXTSUUSXXVTQW[_`^VUYXXWUZ[YVVWYUVRVXUVXWUYZZ\]WTRLOXUUWQTWVVTVUSVQWUTVUTWOMNWWSTVNRWTXVXINVSRUWSSTTTKKOOMMTTONRQUVTUWWURVVTOROIQTQOTVRWX[]``XUVVOOUTKHPQQJHGADGOU`ba^YQLFFNLOONLQVPJTZUNMRQTYWTPNNMOMPPOQPXabYUSOY]Z[SMHIMMSXXOTSOJCOVTGHOMFBJMQRRSVVSVWRSZ\RKIOJN[_[YQNNQRLQ\\XQMKE@BOQYa``^ZXY\ZTTOHLNHLGAHNQMNOSWUXYPHFPVXWVUVVRNLKNOTTQQUVVVTXVTTTTTTTUWVWUVVSPNNTVYUMIMRVTQRUXWKOU\_]ROKKLUZYJLRZ[ZZYTPNOPT^[YWSJBKORYZWYSLHKLKOZ_\SPIIBEVYYVQSVWUSOLNPRWacYUVPL@BNPNNPPNNNGCWWUNPTSNLONPMLJJNOVUOJRXVXTUTVZURKGQSY[UPQQGIORWVRSUYXQMS]YRSUYXVULGNZ\WUUSKINNORQROKRQQSPB;7EJTWYVSZ\YQQSQNLLFS[XUPOKJGLHKWVMNNRVSSOT][QPVWY^b^XUSOPPKRYXTRRTTX[TSXROX\\]XTPMNSUOVWY[WOURIEDPWZRSUTNOSQQOPMMNJJIINS^cd]WLKUWSQLKMY]Z[_[J=CTb_XLCKXf_^caZ\^\WOJKPOPSOFDR\[NALYYRC>?JNRTWXWQPTTNONTWXRMIRQRMMQMRTWQOSZWKIEGLOLPTPKONJJMRUZXNO[kuqbVTVTWRJEIPTWU[__^ab`ehf]ZZPSRMMQYTILVWTXYTURT\_[]cd_[\^VZ`\UU^_`YPNTTVUUWWTMSWRKHT[_\WQGOTMHMMORLEMUWYVV_a\VUVSPSRSTUOOTYXVRRTRHHMOQPUUNJSZSLLQPLNUTUJNQURPUOGPWYRKJPROKHDHOTQUTOIELTRY[VXXYY]__[XSKNQWYURMLTXWQRXWWSOJ]`ROTVUNQWWTOGIYegf_U[afWQSUZYVb\VMIMUfbXEOYLEksPQOROQY]ULQMTVWWWTT]VMOZWMXYWPXa^VV\daWTW\aec_UUZb]UXUUWWVSVSXYUWY\[[\WXYXXXUYYXZ_[V]gnkcYSRJTPT[WVOXVNVLOTWWRX[YMVTXZ]YXXXVVRNTYY][UZQUPZYYYVSLUYUSSSUZWW\[ZUZZVNTXVWX\ZVUY[XWRPWXZWRSTXYYeffc[TTUXUX`c^ZXZ]\\[`ZWSXWXY[][ZUVVSQSVWTSST\YYSUX]XUZZ\[UWV`b]VX\VW[ZYYYVUV[^XUX\[ZUPTVV[X`c[TUVUSY\WWSJOSXUSRQUUZXWUTUXTTXVUNRV]TOPTURPVSVRSYWSTWSLMUTTTUVSORSRNQWUTQSXUWRMRVTYZVNLTXZXVUW[YQSPONTZb`\VQRSUQSSOPVWXOOUZUKHNLJNLILSURNKMKIMQTSVVYXRMJKQ^b`WMMSKQSYYVPMUWXVTQTXSQWWWVRMQVTSSYWXWX``ZPNW]YYYZTSQQVVRRSUVTNTYVUSYZUPS[WROJ@FGLXVKJSYVSWSTWWLHJMPQSXSNRXZXTQPSOUVUSKLQRNLKOPTSXYWLTURVWSNQSPMJMRSNNUSLOOIONJNMKQUZWIGPUXSLKSSSSRTXYXRHCKKCENQLFKDGTTVRSQQPHDFKMS\WQNRSTQSUWWUTV\VPQVTWRKLRSKEGMVXVQJ>;JOLGXTOQSLIOLOT][ZUQPMHOPPWWRQQPSPHGMOKPRQW_[LHSRPTSJMSV[[ZXWTWVRNV]\TNORTWSQQOUWXROKMPYXPQUPKKJILRUWSWYXNLXVULFJNRJMSORTPMJSVZYXUSLMLGKWZXSRJINTRNJMJNNHLSUV[WLUW[^__ZMLMS\^\ZQTMNFEDNUSV[]^TMTXRUX]_\LEHQWUMRTRPXUUQNJOQJ\caZPP\ZWVVPRQTMTW[\XXTN9@X]RWQV_[PU]eg\IIY^VKQRNQTPLGONPVa`VSY[WUNQVVVUTTVWSGFHIPSRSX`XHENQTPGHPQMJJMLJNQRUSWZfplaZ[[[__ZRTX\ZXZaa`cfeche_^XPQVYQMQUPPUVVPNKVVQ[\Y]`^bccbW\abXPS`b_WOQY]_YRVTOSVRMKMSSOJGGMLLMQNRYULLPSTPR[]ZX][XUSRRRJILPPTWWUZZOFJQPFHNPSRPPOHEPTRSYUNJSWTTRQUZZULJB=IQVYQIJJLPNKOSTW]dc\V^^ZYXXVWUNLPW[WN;EV[ZY]][URQOOPECORUMJKGE=;CWeg[VNT\\WKKFVX]\QKSIC.:OHRSVSB]sjaZL^kobYVKUMVUWJQUUPOXYWV[WWW\]UWVWWPTVY__\ZZZVZYWWWUXZXTYVLLTWY[UPWYVTUTQQTWTZZ]Y\hpoaWVUT[XWZWQKGHJPSVVWX_^ZVPEILQT[WV[^USPQNPTWSORQOMGLRWXUMONPSVQSVVSROQUVVQMHIOOOSZ[YSNLRZTLIRXWPNOVZ`^`b]ZQQTW[\[WVSUVTVSXXUMOWXUYWUSWVYXTPROMKORVXXXWVXVTXWWUYX[]`]WVWWXUUXXXVUVWVX[^[\]\WWROMT`d^XLVWYXUSVJPUTWUQPPTVZ[TXTWUSWWWWWRW[XUTQVVVUQLQTWZTTRMJOVUUVPRUOMRRSUVVOOQWVURNLPTW[ZUSTX_`\XWWZXXZWX\baaZb`]\YSOPJOUZYOJMQROPROJPVVUUVPJORMJJLNPTXYUVROOVchjhg`ZVUQV][SW\\MRRGNTPRTTWSUSMMNOWYZ[WSXTDGLSXZVUSLMPQPOQLQTXWUSSUQRUWVUVZVONOIAHOTSMNRWZTUVZ^VLKMSONSVTMNTTPKGNWVNEOPQSOTMFEORSW\[WPNNQQJDLUVQJJLLEM[[WQLDKKQVNEMW[]YPPRUUNRPKOQTYYYTUNLNNGOTQK@A;@JNTXYWTQPJOTRPTUPNIQRPRUVQPPSRPMONLLGIQUSPRQLJOORMGJNRQMMKWXURLMUWVWTTUTNNPQUUQVWOMTYYVQOOHDLOKS_^TRYYTPIBGQSRYUONRUOCKU\^XWZYWOQZ`\Y]]ZNGIRXUSKOMGOMMPOMSQPQVQRWV\`WMRVQLOSSPMOX[^_]YULGLRTOWVLIIJDKSSOQQSPPHCJNPVTPLNORV[YOHLTTT^_YQOSWPIJKRX[_^XRX[[USTZ[TOHHX]UNRQKKNSSTUONOWY\[UZaa[VTQRUNPN]`acXICA8NVRUZ``Z[[W]]WWW[VWQIIQ[[QMKVX[\[XRVSTWYXZRSRUX\_]RQROOUUWY]ULELTVSIEOSUQNJNOQSTWUTXgmne^[\TPYYWQSUTUT[`_bgcbccafeXRRWZSPSTQUURNNRZSNQVVVV\bde`\]dje\XZZ[VFEX``\WWZ\YX\YVMLRNHEEGJJKMMPVWUTVX[Z\^ZJRXVSTROROHIOSRTVXUURFCJONJKLIQUPLNPMNQJLQRPRQSX[VNY]XRSSMEJSZ\YNLNJNNLNRTV]ef\UZ][UMJRYWRNNRTTNHFSVIM[c_TRUYZZPCKQRP\^`TKFEDEOA>EJSTWYMETXWULKLJKCKOEUOM\JMcf]UWUmml`]SKJXURUWQSLLTTTWYXWTPSQRVUQSVW[]ZXTUUYUUWVTTZ_]XVXVPWXXZVWW^\_a[UVUWUTW][Y`jh^XXTWSPQUWWTOMLIMSXX[YXQLUTSX]a\YWYZTNTZWSVXX[_XSOEFKJQSSTTPX^YTUXUTRKOPOKNJJOUZ]_YRNY]YRMMQTUTTPX[TU]egbXPHLUVWRRXWQOOUOMSRMRSWWUPNXXWWYTNOYTTQNSVWTWTXTRWXYUVXTV[\^a]WXTRYZYWSUUX]`]WX\ZXWTMQU`bZUXU[_ZTTUTVUTPPMPUTTXWTSXWWUWSOSQPVX[ZWWTSUVWSRSTXSQNKJKQVSRPNQNUKNTUNOVUSJNQSSUTTVWWZVPS]]XNHRVXLOT[[Y[TW\^TVSRTNNNSWXQNSVUPNMQNQSUUUSOLMQNORLKPX^ZTOQMLV[afqzvhXMOPVUS]moeSNLMMEQTSTYYWTNHCKNV^XOURJPUVRUTSUTNLLKJOWWVVUUSQVUXUSVTXWWSRRPLLRXW]_\SUQNSVVTQSXZVNOVXXUUVSSNSYYQLQQSSOLKDPSRTRPOMLGMPNPOUVQONNROGHNRTWSMNMPTSMNRUW\XTUVSUWQTY[TUXNCIMW_\UVWVSQLBDHACJRRQKDKRTQMONRUOJMKEELOQRWTKKTTLLMMLLLS]\NGJPSRNMGKMNOOMXRHJLQPSSTX[XWYUWWXTONNPRUSNLLROPTPQUTNLSUUTPOSNLOQORMPURNBANTVWZXVOJIY`[TTQQNGEJJGMPPKNRTQRRMDCHOSTUKIY_\WUUSPOQQRQRTWW[VQGEHPY]]XQOKHGGLQNHJJRZ\YPQOLLLORHAJOMPQUMTVPT`b`WUNOTNCKVTSRQSV]a[WRFPTTTZ]ZVYUQLC>ENNX[VOIGMPLG=JUULIHLILPOSUNFFNRZ__QDAJSWUQRSOScpoaWXOMMVTTSQYb\MGJKKRXXVUZ][PIYd\OLSYX]]Y\YNVVXYTS\IPZ[X\\gebTVUVVS?9O`aQNZa\TTUR[cZSZe[VSRVTUPY_Y^WTTUUKTX`dbVXV]]\\``_c^ZUYYWVUYXXTVWZY^a\WYYXXXYYWUZUSSYYQOU]``]Zahld[WTWMOYYVY^__UPSNOVUNNMNWYSMOSXROX`^`ZPQZZQICHKJGQXYWPNV]_[QHGHPMIFEJTUXUUNOPUTMFONKQYXT^ZWSLUPMOTY]_`_YVMRQWUZZWTVSXSNSKRXTUWUXYWUWXXUSUVWXNNUOKKTY]b[WSQTNOJWX[YWYVWUWSYbebVQY[_ZWWUad`UPSTTQTSTWaaXXTSXWUTVXPPRVUVTYWIJWQNQWXXTXXTRPUUXTYVRNPMLLPRTQTUWWPPSUSVSPSSSUUZZVNNQRRSWSPS^^TJGKMRTSOLORTUVQGHSZROLQWRNKGFLNPOJFJMNLKKLFLWXSW]\L@JPPMHFLNOPNU\]ZNPRSVRNTTSNTYYVRQLIHKPMLQRV^c[VYWSWSRSSY[\XLHGEIFKSYZTMJNMPOOLKYYSNRTQMPNDNYUIGWWLHLW[\ZXSUTZZYV[RRPYYUORW]XMMTUMFHMTYWOGGHHDQXVQJJOUSVSRPOLNNQWZYUSY\[UUUSXWSLMMJQUPQSMLLBEOTRNOTWZWLMQVYTFF@KS^a[TQTLKSVRSRTUYXXWWVUSSRUXYQOVYYTSSRNIJPMGKKLKKPXTPYYTKQNQTK@GFKSSRUWXURQQKPQKAEOVSPLLNMLSUZ][RKGOTRSPQSYXZ]]QHRSMOTQPMMMPTWPOFAKOVURZ_\VTQOLMUTORSIKSYYQMKMOTUTUROORTSUZ^^ZVMGGGU[][\WQGDPXZXQISTSQSOMNLKLRSRKCIKBHPQNLGFOSSQPSSTSWXRQWWSPQMIQRQQX\]\]abaXNQSXYRDDMLT^a\][[UKU[]TY]XTXWYTTN^`]MNXZZYYVPYaYD9DLXUA<:H[[\LKEIVdb\VJDIMSVYYSNOXPEHLFFNRRPQPTSWWWY]]]]XQNLPSWRLCDMOSVMJJKLLQNRUNEDGSVUZ`c\TU[gihd`Y\_VNSKEFFLOPRU[\WOU[\TSZZ[SLLMPROPURIPORQLJKJIEHFJSURKPXXRUXgqph\OIPSSUUSSTPNQMSXWRKSPMY`_\XTQVXTRKLQUUXY\_a_UHCDFJSUXNJNNQMLOJKPZ]XPOTSPIILSTQLGKLLMRLNNLE>?NZYKCFKKOUSPLLSdsscXWRHNPPVUJQ]]QRRHLNTUVXYYXPLU]WNRX]XSWYMHYaZMPJS[QWb`[][Zb_bYVGLIFL_ce]TLTYptpXPMV;EY[_UQN]dcYSWX\][SXU[eYXWXVXZ][WY`[XV^`_VUTUSVVWSRY_\VWXWW[\a`[XTVZUPTVYXOVV\]\Y^jnnf[W[_PSXSVZVTLIUXVWYUTROTYROOR[ZQTW\\XQVZVQHIGMQNRVRUPLPWYUSONRPNMQNJUQMTVSJPRRKLSQFFOOVZWORY^[VUUVWY]a^ZTOSOXYZTOKSZTXTOPTUXZ[VWWVUSWTYXSSVYTVXXUUVMTXTUUSSPOONPTXYXTXVXV\ejgZPUY^^ZXW[cbYNNRQQSURX^_VUVTWURNRPKQVUUVV]YRTUVPNWXVPWUWTRORXU]ZURVVTUUVVTWXXSXXUUSTTVRWVWTSSTLPUSVVURVQUYWMKRURNSRVQMOUXZZW[ZTPPPTUMJKNTWUYWVQNLJEHKHMUUIJPQIDHMONIGGDJNLNQVVUUSP[YRVPKLTXWRZ_ZTKEJNMRTT_b[WYWTQPTV\^\USMINTQLKHJRTLGJKPTHBHQWRKIOOQRKOSVTSQSTNNJOWTTRSPUX[^[QPNSWUPNQTQRVWURMLJOTMHCNUQOQ[WTQVQEGJLPVXZYXUQLNSV\[[[URVVXPMSVOMKJQSWVRI@CCIMSVXUPNORPRKNPRRWYWXRMPOLOVWWUSOMJHJPNPKGDGSWSOPUTQSWWMFQUSGGF?KLLUVXYVHMRUSOILNLHMPMRPNMKPPQQORPLNRQKKQSPNRRPYZSGLYYRPQORTOLRSQSQNIKMKJQSRSWVTWRPUYWUOTZWUXYTVVTUWVTKHJRYZWRRQVVVXXVKGTWXXUVVSNRQKQ]\ZYYYVLEOWXWVZZSTQTOPSPTPNRIPWUIFJLMSSTSQUWRKGDINWXZXY\ZTMBPZSNW[]ZZ[_]WUPPVZUKLQSSPSYZ^WNQW[VQPRWWPQXbd`\c^KN\[Y]YQQR][NPTFBKB?B@HQETBDL[ccYRLACOPOVWSKQPEGPTSD?@=LRSSVXZRVW[]ZVVVPGHOSPJKTWUULBGMJTURLMHBCHRZ\X[_`ZV^lrqqmc\`]QKLLRTVLHLTY]RDIU\`ZU[\XPJLRQRW[WURV\[QHJRLFDNTVVQKLRSTQS`knnha\XUSVVPU[[UWUQSTQJJPQTUYZ^WRW]a_ZPNORUYZYXYYXQOPPLNPOPRLE:ISUVWWZWRQUYVOJIMKMMRRPHJONMVWO@=HSWNOUOGFPPFAEM`rulVVJAJOPYWRT^]\ZVPNKFBMPTYYSRRLGIMX\[RT_]XXZLBUNLU\bgYNT[QOXTXV\`aWUYifaUL^`iqfOM#6D/4MVTTVJXWXVOUXYZXXPZd[[^\^]XWWTXYTNPUZ`XYXVYWXYWQUUYWQYW`c`ad[XWYTOLOVUTXWWYXUTSUfkg_Z^][ZYVW\UQQQTXTTUUTSQSSOQV\\XVXZWXWRTXXXWRRQQUYYUSUUYWWXVMNSV[[[ROVVTVWPKNSRUVWWPJCLX^VRQSTTV\VPRX`fhfa]VIKLSQIWWUWROJVWUX[\WSXXWXUSQPQNSSUUZVXXTWTRQWWXVWTXTOVTVUXWTVW_cc_WSXZacdbaY]^]XVUVWUXUXST[ZUUXSWRTSWVXRQUWVTWVQVSRVWVRWXVXXQTUWVXVWUTSUWWVRRSSS\[TTSSWSORTUSLTRWPSYWTRRKQQROPTWZPRUVTQMPTWUSRY[WUUPRTQPPRUVUTRLINMFEKLJNQRGCNK@;EKONJHEEFLJHLQPOQRRWXTSPKJKLIK[^]^[ZTMLQ[adee^^ZWRU`e_YQJOMKLKLNNJEILNNOLPPKFNROLD@DLLQPTY[VQQMIIKMTVTPTVTWYXYUMKKSZZSHHHMT[XYWQOJHRROJMSTMPSWPT\YRLJPV\__`]XQLKLOTSSNNLLRNRNRXRLMMHJPURMOLGQRVSPOIJJQONHLUXYXSKPJHPSSPOVVRJHHIGB?LKHKEDNXXTZYWW]`]WQPQPLGDGRXTTVRPJKPUTSQLILIGNQOMSNGKV]ZVKOVYONPIIQZZXPNPNQVRJIQRRV[[ZUQRWWVUNLLSKPSTQMLPQQTY[^\WOEAJNUYTUTWUWZXTSSLJOVX\VTNPMTTRIBJY[YVTTPOOLHS[[TMSWWSHGPWV[^TSWVSUQKKQSVUKJVVQROMPQVXQGOWWTPPOPVVVTPVUSNMSX[WYXWWTTUZ[]YKMPNIPT[VKLLX]]XXXXWYTK>BGV[^[ZT^_TNY[VQTRPPPQROYWL@?1>BBCEXZTYXUFKKAJTRIG[[TWUUY[[ZUEDORXNHO\ZWUWUYWXVUWTWTWWPPWXYTKHLTRUZVTNLNMOS[[cmtlg_bjpppjfckmaVQVXZUGCQVVTSKNY\[^[[YSMHIQXYZYVTRTVVMKQXVPNPSSPONNOQVZZ[\[dgmibZVQTVSRRTWVPOWQJHKNUVTYXWNT]`ea\[UNIRWWUQRVX[VUPSUTVPLF?BLQUWZZULMPV[WQHCIILLMDFILDKVXSH?HQWRIMJBCMPMIJM`jqd[WUIKH>MTORUWVUSVVRICMRKPVWXXQKLHIMORRX]XTLOSYYXY`eWMCV^ZRMJAJ_beikhd_ZP[eeegfgbO7EACOV_b]ZIPWTQRXVYWVQUYRXVbccXMSXXTTNSU_]WYYYW\ab[VWX[\UMU__YTW[YSYVWVVTTRUX[\XVTSSW^`]YXYXW\QJTYWTMMLKJOWYXTNTVTIGSRHJONSYZXUSOTXXVRQSYXUQNRZ]YUM?DEOWYWPDMNOUTPNQPY[VUUZWNAR[[[[SOOMUUSWW\ejg`XVNLQSSSWZVSNSZ]VXYXVU\bcb\URLPUQPUWWUVTTUVVUTVSTXKTSJPWVXZUSUX]d`ZXWV`hihidZVYYW[YWWWQTSVUVXUUWPPXVXTYZUVTSQMQUWTVOUWZWTVTWXXTTLMKOPRRSSXXUOLLRSVWTURNNPKMOTVSKOLLSVUQWTVROQQJMQRTX_[UQPQRNIHNTUQPOPQSRRTTXZ\TK;HTWRNPIHOQQKNRSMMQODENSTRLD@IMRROPKLMJGDEGKGPWYWWUWZZ[QHMYeknqi`SNQ[ilgZNNQQVZYOELTROPRRNILJDJKMJGNQQMJOSSXZZWRPGEOTVTQWVRSRWYZYNRTPRYZNNNIIVVRTVWXSPSWXQJSPMNXXVNUUMLX^ZXTXWSTSSTRTRKELUWZVUTOOOHDHMT[c__YX^^UPSSQPNUXTPSTWUMJJJMSTQMNOQPRLCKSRLKSUIILJKMQUSUVVY[YURJJPPNJGPWYXYQHMTUYXSMKHSYZUNMS^a_QV^[XUQWSNXZTSRRVYQX\VKIVYUMTZTNQMLML@8<2AT_][VJ<:LQ[]XJLHQZ^_WTQNJMZ\YXOFLUWYPPT]]RMNTOLNSOTPJB@MX[]_`[YUTV\[WVOMMPOPRUY_`ccccb[ada]_\TSY[XZ[[ZWNAHQUORQPHRXXSTU[WNPY[XQWVUSTVTQPNTWWUWXXOLMQTTSYYQX[`ZSblppeb^VW[YZSMQX[_a^YWVWSKLJNU[VEPXXXW`c_PKPMJMTTNJKOPQQTYXPKRUUVPMRUSJGFPVSLFOXWMIPTQMNOMINURNKRVVMNNQMKT]dZS[a][]]WTNIQSJNTRQOORQLTWWT[]TOWWY[VLHLUWY_WKIGJQUXOISVYQRQWZNTUCC?OR\^YLT_aUQ[E>FUUUcW4RULVRWUWJPUWY`YKX\b^UK\_^`]^^ZVNPVWXdc][[YTUY]a_WSXYSOPVU[[WVYY[YZbebX[^`^[UUXVWTOUURYU_TOLRV[acaVJLNMKKQOOLKP[]XKK[fhZGILOMGORSRLNNNPSZ]^\Z[TRUVYZZXUNPLMX]\YQNXVUWVWTSONMNOQSRTRMNVYW[bc`W[]\\[VY[TTXWVUUWW[^[ZX[SVWYTUNLLOTYX]]YWWTXSVRTU[ZUNPVVYWWWYUV]`_YXTLW_ce^Y]TWUZXVWY_[YXVYZYUUVXVSSUSTUXWZVTUXSSVWSTVWYYWYNJPPWZ\WXYVWWYVTTSNRUTTVTRNRX[ZVQNMRSWUOPVTUPLWWLUXWXXUTMNTXRVWWTTNPNKQY\SNKJFMOU[WRLOUPNTQKLMLGMRWZYQKKRUSWPOGHLNHHPSXXMPPNNJNJFS][TLIMMNOHGOUVQZiniUCJJHKSVVXQMMMLHPQRVSLMVWROMORXVLJKNLQTPPVRRWXWNGHPUXYSSWYSPWbeaXU_`UOQRQNLKNOUYYSHKQWUVTTSVRJLPWXPDFPVZ[XQNPNKRUPP]^ZRUY]^`]WPMORMD?FFKMOROHDB?JQWQPWTRLLIJPNWZQHDDKQSPOIHTYYPNSTOKMMJMMPRVYVVTPNRROSZXQKGNQJDKQVWYUPOROPPLHJSRPPNVUONSJHOQMFKRSQNPOLHNQWYTUVOSZ\XTVTTUSOLKSQMLQOLPPPNNHHLLET`aWN@CMOMIKPRRQMOUWV[YRMW[UIBFNTW\^YPNQPMQRY\^_\TQUYWQIKRLDGHNQRRSQOMLQMKMLJCKMHJOQFLVWOJRUQMPSSRQVPJHQVVVRPJKV`XOHY\]WTKHKNROQRRPLRXVQPSSRWUMV\b_XKKMIS[WUZZY[b^[SIRUUPIJJHUVQBMOQJC<0FV^ZRGDNSY\\YVSYab_RHFGDP_b`UGGXUE@MNHSTNKMSTG@MWWOBELT\[S[Z\XXTT\ZVVRQROLKOSTW_eki^WRSRSPTPQVZYTSZYV[\RINTQRPGIW\XRX^]\TUXXVX[]W[YSQMNSURPW`ca][]^WPTXUUSXWUST\dfffic\YVUVTROOQ[YXWQSTSRLJRZVORU\WZ^heZPRPIMPRMJNIJMLRTSNOWTUWSMLSUNIFESWNHLUWQPWVOMQLLFNTPOTQOKJMUTPMU[UOKZ]^cc][VWOR[XRRPPPUYUPQYVW^cWVVT^d]RPVXZOQMJL?ENUXYZa\SMJFQODXRQWVZ^lidXQag`ZYI0@TTIWi#;UYPTWVTWWMW^^UX]TTWPTcjcVRRacbWWU\a_aZ[\WWUW]`YUQVVYXW[\\XYVZ_[VVVUUV[ahgd^YYZVWZ[VSTWVTVRJRW__\RRXWURTSKIJGNW^[XRZjk\MHJQQRMPSRNPUUNIMPRRU[YSQSPNMQRRSOLQRQOGKISZ\[TVTLJRUXYVMOOPNLSWgw}sbZXVQTZW\ZYWWUVTWW]`ZTVVMLVY[WSROVXUTWXROTW[TOOVUUWSWWTVWTQRXUUVSWY[XWQUV^_bc\TWY_^Y__\WYW^d]VXWUSXWWWUSSWVVXTOSSVUVVWPUXTTPXKRXWUSUWUMQUVYXTTXZVWUVVSOUTXUTOVUSUVVONVVRJKMOSTXVU\[UOWY_^[STTTTRPNPPPVZXSWXSPSTSRSSOQUTMOSUWSPTTWTRPQZb]OEJTXOJPNJKJMMSUUVQLPRTOLGKQNLJNVYTOXdjcPDLUSOOMMQUUZXRKPNQVYVVWWYZ]ZSMIHIONJMTNKVXVTUTQNSWW\\YWZZURX]^YUT[^VQTQOMRUXWUUTNG@KOTTRQTWUQQQVYSIBHPWUVROSPJR[YV^b]UILLW`c[XUUTPGDLSQLINUXXYWMSXTHEIKKLHJMPUYRJMJJOONPQIHOTPLKIKUTROOMJFMNINRTXSKKX]YSMDNSKBGNTT[[TONMHOPONRWSTQOMIKMTNMRLDNPPTQQOJHNRPNPSSV[\XTVWWVWXURNNG>GUTOOQPPOKIKPMLVYYSKBLNONNPUQJAJQTSZ[RJOTPNNJKOV]`_VSMLOVTUTVVSYZZPLJEOWXNJTRSYSQILKMFCNQHACHOIGNRNQ[^ZQLMPPMUXVUVRMJTXYYVUSNXbaTS\a\YZVRSWYWUSNRV]\VQMPROTX\WT\^XSSPLGINV\[ZYZ[RUUXSOVXP?GRXWM@POPHDB3PWSEMTZXFQOMSWXYZTKC;BAW_a]SEOYUIHOXUOONPEDKGCGMMLOSWUVPFEMNSUTTTPKOMSXWPMJLMT`ge`YYSTOLBEONT[ZUJMOKFNRILQNQQNPYVQV[\\XWTXXWRPW]_`XMFIUUPPW\\[WY]XNLTWUXZXWWTSSYSU`hhdb_^SOMLHJPQURNKUXSPKU]XSZYXSOOSXUVW[]_YLNTWUOQQIOKETZ\ZWQHAAJOLJKRSKDMX\UPQTJEDIIFJMJHOVXRNKKRPQ[ff[VafihaYYVVVY^`[WSPNRWSKIGJNWY\^VHIVPJNMW\[SLJLONOOY_dcYTTON\TSZZJMOX`cbWOKX\`]^T;:SWLW^L]NROIUOMSKUVaXZVWUXYKP[XYRVWYXTXW^[\[YUWVUWWW[WTSPUSUVYW[[TMLXXYWUUXWVZ`bba][\[XZa^YXVXYEHELQTVUSS]b]XSTUPHKLOTRQMIPcicXQOQQUUSMHIUZ\XQQRKKLRSPSQRRKORJOWVSTKFJJHPZYRRYYPSVWYTMIQQQOORTawziXONPSXWWZTQQUUWUTXXTWZWLNUZUPMRWVVUWZVUZXY\WWTYXWXWXVQTVTTSPQRJNRYZVYYW]a]a^TVX[\VYZVVU]cdaZXUTRUVYYWPMLRVVTSWTRSTQPMSWTUQXKOUXWTOJPUSMUZUVVUXUVTVTSONTYYTSVVVQPVTMRSSQTSVTWUVSRXSR]^b_\XRQRMJMNRXY^_[VSSLFDGJHKNPR[\ROX^`_^\VOPQNISYUNKJOPOV\XLADDNUQMQNLPTWUXRPONOLMNTSU]cd\Z[[ZVRKKFEGSbebZQNLLW_ZXV\^YWRMNRXUTLHRQOOONLT\YVTONLRW[]WONQTRVVPQURPSWTTSTZXWSPHKJGGAGNOQTXWNKPPTSPIGMRNVXUUSKIPQPRUXQI@GK\_ZPRTYXTKOWVSMMTYZ[VRLNPLG?IJHJGKJRUQMONLOJDT[TMRQTRRMLMTSQNKKJKOLOEGTVSTXTXUSUUXQGBMUVWWQKFKNQWZTTRRKIFHMTNGOQTSSSUYYWWOKPRRRTSOPW[[ZYYZZXTNLJMNLGLONRQONPLGIOQMDMV[WMGPTRPNLROKNTMFJNIMTRMTTMFJW[[YUQKFDLQJOPQU]b^WLMPQY^VLMLPWXWWTMHEHRVNKKNQTTZ^[UQPUXTKILKSXXXTVZ[]`aac`[TX]ZTNUWVUQSU[^YVRRTWTYVRXSJNTWWUTTSMQZZ\[UMMX_^Z[UU]XPOKK^bbZKRY^X@GNJJNSE6C@BLYYVQUUNPUSRRFGCFNOKHILPGALSSNCGWYSPUZSGAINQMNQPQVTNIIENUYUNPQTRSUUTPMOMHHPYac_]ZTOGA?AHPSZZTNMUMHJRRPNIIJIRSURRXXWRLKLMLECMT_^WSQXZWVTZ\YUTNNNTYTSRX[Z\SOIJQNKS\]]\^a\VSNMNRQUVTSRSJDFKQRJQRTQMHKQW^[VTWYV`feZLPOIMLBKWXYVTTROVVTPMOQMKGRWVQOQQMNOQPNRKFKSZYTONSXUZglc[Zagf[XYWTVY[YVUSTOHQRJCHMSV[__YSLBBHTUSWWQPUOOMIOXaaWPINVOWVUVUD:TSYJBLTX[[SOJIHLXf[XYKMWZ[Y\^ZUMNKHENOLFMRUVSOVWRMNTOOV`dbVINSNJKMQSTRSQPRNEGOSQTVURMSXXVTQPORQPQRMMQSUZWTLOPMNLJIHQWVVUNHECJLRPPPOROMU[^WPHPVSVUSNTTOOTQT\__``gjd`[WWVNKHMQOMQWWMIIDMOJOQT[VPSSPKJPUVUX\WSTK:DPWMKSKEPOHGIOS[Y\VW]`_RVVOAEJJHFCFV\]`ZV[YXYTSMINMJUWUTRPLFKQWW\NIW[UQSZZZVGIVUSSRTZ_YVUNMRWVRKIRWZ[WOD?GNNPQ]hle]WUUSOBAJQTQUY]ZYWXSQNLKKMKT\_XUNNZZZRNLGFHNS\ecYUWZZTUTUYXPLIMW\WUTQSRRSVVPPUXSQVZ][WTY\[ULNPPPRQMOKKSUPMCHVWUSUIKSY\^VJJR]fqsiUUVVQMMQQPSXVWOKU\[WNJLMNMKOWYRMPTUVTMLPNKMIHMHDFKJHYeeWQSMX[XVUTVWRNPTROMIIQSNILTYZUQPRVTLDMW]XVUZZZLEEGKVV]WOU]^VGV\_YRU\b]TAKUUC%9+BEOVSJNORW_]RCIOSURNNRQSYUQPILNSXRY\XWSQNG=EPUWW\[UNLPYXQOPPUUTOLPRQTULPSalmjcYKJONGIOI?HTUQLQX[[YRRVQIHCPXY[]XSKP88BNUSVSPSZSVZ[UVTFQW^bh`bnkhfh`gkURPSWJKVOSXV]`T\SXXgaPXZX[\\U\c]XNLY_\YRKQUWUV_a\WWTXYZ[XUTXUZ[XUXSVac_^WYUWYVYYZ^]\[ZLWYVRNRUVVY]\XSMOMGNZ[[VTV]_a]XSNLJKSQLTY][NEAIUZUURNQUQIBDOSURIFSY[]Z\XOHDELQVWOKPSXQORU[ZRQVXXY\c`dc`WTTQUWUXXVUWWSOPOLONNRXWUWWUWW][UXRQSWUSROSWZZTUVSVUVVUTWTUTOOSQTYQNUWVOTV[XUVV[^\VW\_^_^\YZUUUVQVVWSWZXWUWYXWSSONRTVSTRXTVQJTXUVSPMPTWPLWKQNQWUOKQWURMUWTNKQWSSSNMMTVRLKOTVYUQSXZZVUX\^\WS\]^]\UMFFMRVWTWUWXRMGAGHKRWVQKIDGNQPIMRQPSSOKSY[VSRRNPWYUSSJJNTUHDOVUUVVUSOQWWQHNVWVRI;@DGKOKGKX]XRMTZ[WQINVWOKKOUNHONPOIMWXNDEQTUTUXPJLONSXVQRSRUTSQPOR?BHJOSMNQPTTJHOQQPKIMJEHMKIOX[\`\QPS\\SRTSQQPQLJKHLPRPNLLNMHNRTTYWYXROQMC?FPNSTPQWUNGELQUTOEIJHIPUUOQTXYWNNRHOWZX]ZYXTQRVSLIADKZgf`WTTLKLGIFLSZUMFGIGKKQXTTURJJOSPOPMMKTZYTSW[]\VNEFSZ]ZXWLMPTSXZRLNLPSPNGGPPNQXZVPNUTRUYRLFNYUTXTONMJKSWSMQWXYSQRPQSVUROMLSXUQQQVYQ>CQ\aa[RVVMMRUVSRZZUSROROGD@KVUUSS\aa\VMDJPORRSW[US\\ZZ[YW[ZOPZ^YTRGLRURPVUQOTQLMWZ\[WNPMLFIIOTUWZ]ZY[WZ_]\XSNOSW[PKQJIYa]TIDMSSIBHBHRUPNXLPTROSTVO>X\^XOEEIJPVVNLMRY_][[OAFJONGOTTQSWUKMTVPPTTRPLLPUTOMILNQQMPJNSPJJLXcge_UNPRRRMQLKPVVSOOX\\^^ZYXLIJJHGITZ`]]aYQ[\TY]]U[^`a^TONNQTVVTOQYVQNH@DORMIMRMJLWTMCIKPILOQU[aa^[YTTVWUSHQUUQLQX^]TORXUUPRV[UUORNOLNTVVRLCNRQRRPKNIJTPJOQSTVUNOQQPFELMSXUPRTSW]XLIRRKLW][\VSSPLKPTZWULILRUQMV]]USVRQPKILRRMILNNOLLONUTLT\WOPVWZ\YVWVNKHP[\\ZaZ[Z\UROY[]PAOVXPddggK_eX=_SOPVVTRXQSOLR]bYPPS\_VTRV]a^TT]__YPVZa[XLOYUYVXXVYPQSUZ_][YWYWYVZ]UU^`ZUYLSWYYVY[]^^UUNVUTLLRUZ_`[SPSSRKVVWUTWUVUY\ZXPNNPTVVPSSTOGJT[]^Z[XTUURSKMJLPSX[ZRIHLRNGHFFNWWUTPPVYZZWYYVVVTRT\[\`c^YQPRTWXYXVUWSSQSRSPPSRRUVWZ]UTYWUSWVTTZWVWPPUUYVPNUWYTXWWWWTYSTVTYXYRTYVTNKONSUW[`][\c`XZYTTXYWTUVSYTUUUSTXWXZUWWTJKSWVWLOUTVSQONOLRSTTXUQXLQQMNSRLRXUOTUURLPOUVSUWUUXXURLMPXVRRVUUSXPPTWOOTY`a_]XSKLJLPX\ZWVXTLIGMOJKQTVRLKLLFFHLKOPVTRUXZWSW[UUVYXNJLKONVZUPW\WSNLTVTRMNJQWSTSWQH>@HHHNOMOSORRTZZYWQQ\]XQQSQKEPUTOJSVPCDIIONMNUURTRJKZZNEFKX]XNLSRLNQOOGJOMHOPLRSNMKKMKD?IQUQRSSSQLJLNSPRWUSOKSTQHJUZYUNQNLLMLQUYUYXTKMNPHDHMNLIHKRROOOR[_\UIGFHGNTSTOPTVXZZVRSWXXUPMX[][VPLGA@IV^`]_c]WUUPRSSUTSSTQHEDFLQOSVWSKQTSRKQKDFRVXVSUZ]ZQRSQV\]Z\ZXSMIGHNJGSVWVSNMOUTMOUZXWRUVRNMSPOTTOLNPQPMQOOVVOQRVXVVVTPPSQKHDEUWRIORXXSOMRX]`[SSSFCKKPUUSNOTSQKIHGFMUSQSTUZQT\[SPPONSQSZWSY\[]`^YWOKU^ZVRMECLQUZSNJOXWOQTTSVWXTQMMQXXVOOW[TOTZ__`bZYPTSTPGLSNIQWUPFGQTQQOOPJOVYUaaZUSTZWVXSOXNGHPUJRVWOINP\\TRPNNSX[YPIQOMBQYULRPORZYURUNOPQRVQWVQTZXQSUMDLMRX[XYVUTRY[\[YRSUSOLLTZYZYU[]UNSRW[YZZ\\ficXTVQRYULKWZ[`[QOKIQVWZVUPQUXXVPIKGHPYWRQOTPLITTPQPGDGXVSVWVOQPTMNY[QJJHSUPNSTRLLHBOUUQNFNRMLLNSXYRVXTVZWTRTRZQJQYZTMKIRTTSNNUXVNHILQPW]ZQNPOJPUU^`ZOPOGJORRROJMT\_VKM\`]XXVNKTVWVILLMLMJLVZYWMJLJJMNMOTLDLOQRQOLJFIKJKKOTQJO\\WQNPX[YX_^WWSX]abb_XWWXYQJMOGIHJV]XUSWTUWYUONPXVKPQPU[]VQRXWRX^dd`]ZPWVUSODKSW]^Z]\SRPPKNRTWWV[WLU\WQJNQOU_`YJUTVVTMQPMJLIIR\VQD?LSTXYPEKRL;>JLEJSZWWSJMSUUUWVRQXYNOSURYZXNPKMWY]ZZYTQOMMVRPRRNLIJPUWXVNQVTTVXX[ZUUY_cf]NPOPWYYRQSVTUWTKLQTWWV\^]WSVTTLFAILPSUVSTVUQWXVNVTJKTTLIMSMMNQSOLUVTPORUQGOTUPKQNFJNMKJMROONJGOX___bca^YRORQPNLQYWPKINVZURKIMSSLE?GMQPVPPPRQV[_^[[UUYTMPWZPRUPR\\a`UWYZURRSURNNQXVOQLGKRWZWPMHKRRQQRLIIMVZUSGAIHHUSAV`bWMKQQRIDGJNP^[RZc^ggaQAFGOpdd_VWWZ\[_\N\c^TUNQPTUXOXYZVWWSWVPV^\YTSWVTRSPQXX[YTUZ^_bVUYYX`cfga[YXVUWUVVWaa]WWPUUSVWQPUXYZYZXPJKMNLQSMLI?CINTWXYYVTUUURRVUVVUTTNGLQMBIPOJHNTUWVZYRPNQRRKHNLLOLMXXSTUTTVVQOYZTWZWZWXX_bXHFHLKNQWVNNTTVXTUVVPNVTUUQTXZ]]__VQVQTYZUQVYZSSYY\]WVTPRXOWKPRKPX[ZVUXXZXY\]XYTTUZ[YW\^[VVYVXS[[USTXUPTWYWXWW[][VVUXTWXRVSVROLQOKSSWVTPWXXSVVWTTXQLJSKVXSNSMVUUJSTTLOUUVSOXRYXQRSVVVUQLIPKOQUQPSTUX\^YRRYY\XLLMDEOQSQQOHKY]ZZZZZXMHLXYS[ehc\VTSQTTU[VLTYYUOKLVXVNGMKKOMU[VMIT[WROMNPNOUSFBHGCKPVTXWVXSU\\\TMMKPZYVRTZ]USTSRRKNTPNGJKSZUNRUTRRNLNKMRYZVOHNWZUNKGJKJGILMNSPOPOWUOHHLQPPMFKKOQVWQPVVONPMMPOJLRRLKNPUYWPLOTXUKGNKCIRYVOLIOXZTJGGQPRUSIBDFJOPI@GORNMSYYRLLNOBFNLIMOMPTSX\\cnng^VKDGIGKNSRMHF@DHOQSOTX[WPUSLJLORKNVTSQMJONQQSPUWUNQQTYTFFHLOOQOJMPSXXPJOOVRJS[_^YTSVVQICHXXZVUWYWTSX_b[MORIFIJPTVRPNMPOKJOQNORQTYYWSPMPNRONMRURTQMLQSPKHKKLDGKKDABMSQKOTZ]XX[ZWYXT[[VZY\ZTQSLKOJIGDFRYUOOUUUUQSROLTVRXSOKJLPOVZUT[^^`YX[WTVUSVLHPU^\[][TKJCOOSMUXU\PMXYYUTRSADZ\VSXONNLG@:LUSRQJU^`TLKNMMMRMHPTQJHFBAFORJTUQLOXXVZ\XUROHMVXZXXYVUKGU_ddWUWTPHIQVUTQPQPOURTXTOJOPVXZUQIJNPV``ZWROMTQKFHSWQGJMLGIOQSSQVXUPLIBFNOLNNNNQPPTTVVXXVTOGQVUNIOWTSVTWURLNPRVUTQNNNIKQZRKKQMOUWUU\]TGHHOS]hopg\RLUSOSY\]VUYXPMOSJJMQQMNMHILMSVUQGGS\\`bb\XUUIEMWVTWYUXZ\]_[\]\YQLJLNPVPNJIRVOPSRRRQPNPQRNRVVQIVZVLKJAKPPRQNMTX`^[aihN6JJZmeg^V\ahnk]RRRXSRYXTXVZQQX[UXQVcgZRY][UW[ZTWWVWV[_b\W[XW][Y]dcbfmlbYYXUYYV[UTYdfe[XQUTVSRRPRRTWVUKFFMNIJKFHC7BLOYSITW\YYZQSTSQORTRNKHLQLIJQRPQUYYWTZXPQPRV[VLNJHQTWWNQ[[TRZZUPUVLR_`]_]]dd_XZXPHQTSTPTSNVW]VQVTSOPVVVWWY]]YWVSOUUTXVWLOWTXVVUWVVWWTXUMRVJMPVZ[ZUSPSTSX\XYTWVXXVUVZ_^WZ\XSUXSLOSVVVVVVY\^``ZXXUVUTURVTSTUVRTURTRQTXVUWWSSQSTWWJWLNPMSSTVXSRRTQWUWQSWZXUUPWWSLSWXUQUSMKNPTYZVTTUW\]UIELPVTRSVTQQQSUSSJMRRLQSUWTNIRX\VNY^^WUXZVVSRVPIOUWXURIMSROIDKPOKU__XPRVVVVPSWWSUSOLLCBIONNOKNQOX^^XTQRMOTVVRU^`[SRPPPOSWUQLKKRWWVXXSLQUMDDELWZHLNRVWUOKMGDMPIKNNNOOQSWPMRQOSRIDERZULQMJQTRPSPPQNKMMGHOMJRVWTG>PVUMFGFLMMRQSTNLSXVTMLEBHSTPOPNPTVLIMNLNYZ]\VRVTQLMMMIHDBNSVY]Z_hnlf[MCGHLLJLNJHGHLHIOPOKLPQYZTJHNQRKORSUXVRPTRWTRPSSYXWTTWUOMKIHOOMMOMPUTTTSSKIPVXXVRNSWTPJKNVXZXW\\TJMY]XPSUUPPPKMW`]UOMNMOQRLKRUW]VWVRTQTWYWTRVXUYUNTXSRRRPNNJNJKOOOTQGQWWRLNZXRSTXXVYXSOVWXWSRUIEGJLPTSQVUXUUPNOHIOQVZTOSPRVSQU[WUVYUUSWUOLKJQJIRVUPOKQKMSTVXQMSZ^XTV\baTCMNN;EPGS^bW\ZZP:JPRZ\X\`\TSUSNGKLJJTURTVRFGPOMOMUTRSUWVVYWTQTPEJT^\YVYVPQYajlcLHKPQSVVVQNSUPTXWXYXXSSPSRQPWYYXROW\]a]UONVUOHQWSKIHGIHNQOVYXSUTPMJMTRMJMSUWVYVPMNJNOOJKLNJLEIUUPRUY_]WVWTVZSMKOOIQSPHELSSUZYXU^c`VMPNJTYbjijaSNOOTWYWVNSVRIEGLLRQGEMOMLIHORZZQMVYXW]`_^WQQIMSOPW[^b\UTRVTY\^ZWWXVW[VPORXVTVXYWVSSUW\ZTWY\][ac]VQORSTVQNWPMZ[TRSQRW[^[YYWXUSRWVSQNPPSRPPTWUSYXSQUTTPNSQU[[[\[VRNNLGLGIROMRQT\YOMPU[``_\UNUXZ][TMRWWQKOTWYZYVTTWVNINPKLPNW_heXMLQQOJQUTSPORRTQTOHBJPVIKJMKOUVNJT]^XSQX[UQRPNUVQOX\YWWWVSPQVYTQPSSOTXYU[`^ZWXVQQRQZ\\VSWUSTUPUSQUSWUVVMRWJT[_a][d`SQ>77PSM=QYXTbb>?M\bVVW@^W^c`NUTgfe`bY_`_`\deW\YWZUT^_WW[]UMUYWNQXVUUZ[ZXVWXY[\^X\_\Y[dbVOWYVPT]WZVWWWZ]_a^VTSUTQOQXY[VQPPSUXVRPOWYZUNQX\\YW_a\RLOQMDFIGLRVTUYWQTVUMLPROSXY[XOYdg_YQJFHOPQSWVUTZ[[RSZZWTRQJDHRX\[XVVUUNQWSVTMSUSWVTX\VTVX]^X\\YU[Y^\XZ^[WVUXVPWXNJKWJPVUXUWROS`b_\][YWVRLY[XWRWVXXWWYUXTSVUPWZ]^XSPTPPSRPWX[YUXTTXVSPVSSOKMNSTRTSUMNPORSWWRRTTSPNQNRWVWUSSTUROQSUVUQVUXWUOVLPTRUUIXXSGDIJVbgdYQRY\TOYZTQUZ_`abZLFHOQUXUSQQQU]ZOHFNRSTSQQPY[WRSSUSPFAJRVSNPVRFLSWUPQGLTQMUZXTMMSTXYTPW[VOLNUSHKTUQJNPJNX]ZSTTUVNMOQQU[`fbXPKY]]ZSRNNMJNQUY[[YUXXVPKQQRUQEHKRXTRTQNMMORSSUVUSRKJY\WSKKJIJPPOOWUMFHMKJPQUPKLHHSVYRTWZVSMG?BJKQTXSQMLKEKNLMOQPNLINPKLKPSQJMRVURPPOQSRKIMSURMKNJINQKOPJJQQURRXYWWPIQY]YPJQUSPRHPWUPPQMNRUPKLNPSUNLSYXUONROEBKVWWUQPQPKFLWYTOMJKOUWTKNQJKLSTNJKKMRWTWXXXSW[ZWSMFJRSUSUXURMGIGFLQ^ec`a_[VTPRXSMJLPORPONJSTMGNTYZYXUFKUUPLJNPLEQYWOMLJSVTIGMUTXZUX`^SNVXPOTVVZ^\[UXUMI@FPQNUULLIEEMNMNQVWW^]YVXUX[VONTVNMKTSLAFNVTSPTZZSQOSOTOMLKROFQYKDWXSQOKHR\``[^]XHQJGOMUZPJIGLMLLRNNP\`^TIKRSPMLLQRTSWUURNNNJMNNJJONLOTZYSOOQY^fpri`WWXMLTURSRSTSHLQVRNPRR[\WPQW\[WRTYYUV[]^\UNSWXMJPPLLSWSI?FQWYXTUXUSNEKSROQTRTRSUTSNKJFMWYRRUZ^[YWQRQXZ\]]YTQV`_[WXZZTNUYXXYVTQPMJGADONNIMNHT\\ZVTRRKLPRUWUVZUQQMBHRY\YRRWUMFKKJR]^TNIVXRLGJNY[WWWUOKRUSUQQRRQNPVRNOTTX`fcXOQSPTZ^XWUOJPQMMPILS\PSTXWVY\\YT`^YUZc_PQ<9GLNA8?>@6I]aaLcmfF.LZVUPIRW_ghUW[YYYhiYZcf]VSWXTVYXKWVWUY[YVRVYVXTWXVU]ZZXZ\XXZ_^WX]YWXUURX]dYQSVUXXX\\[YTWQIKORXYWRRQQW[ZWVUZ\_[VZ`]TW^]YSMCMRRKKPVWXUTRUZ```\ROSUORORSTXXage[PMPPTPJLQSQNGKSRPTXXPRUMBFOQSRRRVTMDPYYNVVSUSOQUWYVQPUWXW[`^\ZZ[`___]XVUVTUXUSVUMJPRXWSUVV\`cb_ZUTRXURX]^VWMQSTTTUSQTRUVVZZYVZVSVNPRQPQSWYWUUWXXURVTWPUTUVUPZ[VVTXTPNTTVTQRVUTUSVW[[WUSTRRRUWQLPVTVUSUSTPMTWRQUKVTLOOKZhoka[[YYRPPSTW_eib\\WVXWYTLEHOSRNTYXMFGQOJINPOQX]ZSTVRMIHBBIKLHIMOKLIJIOSNORLFLTUPSSUVZ^XOIPTSOKOPHOTYTSQQOQZ^[UXRHHMOWWKML\flcXHN[]]ZWRPVZYWVURXZQUVVSTSTQWTTWA>FQPMFPSQOPSSTVXPOTXUWVSRQKHIRQNQQNOGJRPMHONKKHMJKJOKLS\_^TIH>JVWRNMSPPROKILGDKRRPLMTPHD@ARSOMMSVWNILTYZPLMPQQNNNKJNMHJLCGOQRPILTYTRRV[^^ZTMPMOQTY^^XSPIGPTUSUXVRNQX_]ZUUWWXTJIORQMNLMPMB@CHQXYRGISPIKWXNGOVPOQSPOY\\_`ZPMSWYYQFFJSRSSRPIEIMPLMSY]XTY[QOLIPYYOHJJLT\a^ULKEHQUQSYZZQKU[]WNMMKEEUUTOJECPSLELPLJPLNUVQRV\_[ZYTU[\WSQTVRH:GPQRPQWQECJOLGIPNMPUSTTVWVVUUUUTNPQSI>HNTUQKHHEDKRW[UOQTJNTSJPIOTNAGDG@CR]`cb]JFE[WIFBLQMGHKPPNLMHFHLRTWVSUSQNPRTWWWTOMEFOQRJKOT]\WRNQSRQY`YUYenqmgYWWSRV]abbWSRLKIMOPQU\_]WOXZUUVYYXVNP\a_VOOW^ZPHMOPKPVWURQPVZWUXYWUROJNRQPUTNMQUb^YRNLMY[THRNJLWXVPQYWQT\`YRNSXX\[WOMJNQTUVSPOPMIHFHIJMIJKDCS[[XVZac_[TPPUUVQLQQPTSS^[SMTVTOLOPT^`VHMPQWYRJPVZ\\XSROLMOSURNMOWVWSPQUWY_a_][Z[VSX[UMJKUTRLSSV`b_YGHKTPFLURVQWYSP\ZN@T[`]ZMF08BFSYXLQUejeOO[Z[US^_Y^g[P^_VXghWT[WWSJXUVXXXWTUYYVWUVY^`XUWYYRVPXUW]aYVUafc^`beaXWRV_d_WV]VWNYVYVY]VMLQRJOX[[VMINUWSSSY[[ZZ\]WJR][XRPGGMQTTRX\[XSSTW[^UNJKRNLONPQX\XRZ]XVYVTOKKRXQHJ@HSTTRQZ_\XUOINLOXX[WRJCGNJHHXTPRTVTXXXXYTXURWW][[]\\]^`ZWYVYUTSURX[VMPNVUXXSRRT[]a`WVORWVSWZYUROQPSQYUONPQMQTUUPXXYWWRTSVXVRUSWTVVUVTTRUUNW[WSWPTVSXUSQPSQJRWPOWVUVRVSX[ZSOQRVUSRIUOXVWTNSVRTUWWSLOOUTR]ZU_ejf\Z]\UPPRPPV\gghd_X\__^WIEDLVXPSYXPGOWUJCLQU[[__VPRTMNPOPOMLPMFFKHINSVWSTQKIOSPRXYUMQQRSPPQJJJHCEIS\`^VQUUX[WSTOEDLRWXSPOXgigTGEOZYXZUMMVZWYYXSRMS\\\[YTRNSPOA>MOJORUTQNTSSSUTKQTWUQLNQNIEMPPPIOSTRUPIGCFHJGIDEJJNNTXYXQMQLQUVRKOTPLQONNJFHLPRLGFHNOMFIMOKPSSSUPFKOXYQWVTVSNKNFHQTSKHJKNJNWWWTPOUSTRW[]WLIHKOOVY^]TQLJJQX]\ZSORRRWYVYWWXXXOHBCHEFNOSVPDHOOQWSKRVQMQXVKKTVNLWYTQUUY\a_VNHOUUQHGLQI?FPUVSWZ[WSRRMQRYZTTNCGQUSNRROOX_`YMIKPSQLNQNOQPNUWVTPDCIUUTTQMHJINHHKNRQSSSPNJTZ]cfb]WY\[[UOLPROLKPVYUZa^PLNMNMOPOKSTUROMQQRXVUWXYVUVQFDDMVVSOJGILTYYZ[ZWSSYTOHHQUUTH;CTNLVWW[UADKL[C7/HSQORYTMFQYWSPFHLU[YPRNT]^^`^ZRLDBOXYUKEEUWWXXQLIIFNVUQO[dfigaSSSRPRWZYPKIJMKTZ`_ZX[ZVMRWXUUWYYODHS\[SRRSVWPNONOQY]]XUXWSRQSUSROSVMGW_YVTPCIW_]PHFMRRTMJONLMW^YRQYZVUXVVSUXUV\^WNSRMLUSRQNQUUMKLMMQRKGNONQWSQPUchmppcVQQSWWUQMRQU\\ROSVUTVWY^ef[PJNSZ``ZRPQX]YQVUPLW[WOHLOQTTPPVYRMQSR[ZZWURUTRTQOPPPNRLIU`^^ZLFKFEFORSUQTTNNQLS]`[WNPTPKOX`jfONb^SOMNWXW^\[aTSbbUJbWZkfWLQLKRPMTUTWa_TUXY[YVUVWUYRSVXV[]VWWY[ZWYaklg\]dd_YVW[ac]ZWUXRU[ZYT]JQZ]YRTWTLINPSSPLNV\ZZZTTVUVURWYQKDBJNHKNZ[[WRPMMPPRQRTRKJUWVTWTSSUV[[XOMSUSYUPLMNOMKDL]bbYRUVQLLR[]VTQHIIDLRSTSTTTVWTTTV\WQR[a]USVWVZ\XTSUYVVVKJQUWUTVXYWVUTWVSWXXTVWWSVYTTYYWVV[][UVYNMRTOXWYYWTX\[XYZWVWWXTSOSWXWXWRSVULPZ\YXQSUWXTQLRTTPORUQNSXQLTTXTTWUSQKPTKVRSVSWSKQRQSRRMMPQVXOTYV[agd`Z^d`YPKLINW_dbbbXY^\XXUTURPTSPW[YVVORXTRQSY[[]\ZQMLRMPORULNVTMKNLKNVVROVTGFMROLSWRIMTTRQX[WNIECPTU[a]RTVQNLDPZXMF;ELKRVTSUUOMJMNOQVYWUSKKOYZTUONUXXSXYXSJKMJJLJMOLMTVURRQKNSOIHGHTUKHNRNMNTWRLRUUROPI<7CJRKHJGLLNQUXSUSNPNIMLMFIQSNOOMPQKJFIMQNLMPOIMUSOOVUTUWVQLNQTSTWPPQMKJGCPTUQROQPSVXVSPKOW^\TRUWXNPTNHHNMRTSNIJLMRYXLBLNRPSMQMPNQTPNKIMSUOLQSVVUSY[TFINOU[YTTRMIOUROKNNPVY[XUWUVQGHSWYXXVPFKNOPNLT]]UROQQWYVPS\\RKNOVTUWRQNTYWSRTSOKGJMLHEGHQQSWXQHPVVTWUXYVUQMIKNQSQSSSSQUX_dhdYSVTW^a[MDKIILOS\^WWUMQRIKQVXSQWXUSNHMNMSZZWWWXVSLKRPRRSSWPOEMUYTPTWYQQUIGDHW\[[YPLQTPWUPRSFN[[UI;-EMHRbc``Vafa[HFIHJNXWUWYVbdWPPWfiaQKXPUUYXUYUXYVVOY^]YWVZYYUSVUWV\bb[UYUVXXagliaVXYWWUTUXZ[WYYUVX]\YVYYGNSTWUQOJHKLTXUQSOLOPRVRMRSWZWYUNFHMSQKFMW^]\XVTSQTWZXYZROSVTPNNKPTUTSMNZ^ZXYXPOPPJFMJIN[_]NR]\VSMRXWTVLLKPWZWTTWVVNUQXTUXTT[_\UVYWT^cYTRSXVSNKPSOORVV\XWTUWVXXSOKRXUSUTOTWWWUTRZ_\YVTYUYW\[VVVRXXZWXWVYVYXY[UXOX\\[WVTSTRMUZ[UUWZ`]WROOPRQQPVSXXKWMPTRMPLNVXNQQROPRPUWWXXVSUUUXXTSWZXJORX^\_[YZXVXSOIDGLTYZagjjh^WONRXTPPLMTTVZZRNQX\\XVYVXWUQJHBDFISVRNNRQSTPOMRQRWXUNPTUOKKNNJOSTONW[WURKBMXWXXUVWTOJGMU^]THJOLLPRT[]YUVVTTUQVXYWVNIQXYQLPPONFEHSYXRKPTWXWPDKNLGJLNPRW\]VQHCHTXWSWWONSWVUWWVTSSSQEEKOQSJNRWXQPUXUUXSPLLLQLEAGCILOORUUOEBJSWVTUTXYYTQTUTPSUVSJOROSRPEFQUTPNFHRSSRTSYVOKEHMTWV[\NOV[]XVZWHEMOTYQPLOUTTWQPLOQIGHGH@GNTVQLBLWXSQV\]XTQTYPLOSPRSSSSNHLXURPNRSROSZWSNKFEHGPUQQVNINPOKKLQSRQECINQSWRPZ`_VJFKPPUVVSOHLRSRQMNLLOOQOHIIGJLNOSOPTXSQPRPNSSOLJJPRNPTWUUVVWajdULLHKW\YNIMHLSUYYZPHMHILLMV[[VTRTTVTNORNJMTVRPNMNLQZZYXWQPWXTRRWZYYMLE=KNGDGUYRRUO@IMPTQRHCFHGHHLQXUTUPJ>?CJGADEGEPXSHOTSF>MNOOOQWUUTV[\WHGJKJJQOPOB@JFAIMNSXadc[UWRLRTVSVVNQWZ\]XTX`aa_a[[YVWZYXZVQRQQYYYWWWUSV[_[[_]YTT\[UNTW[YNNWZXTX]XPKLJNTVRNOSSVVUVUTY[YTRSMINVXU[\WTUWWUWVY^\VRNKNPOTURKILRUWTTQIQPNNX\YQNKOXUWcklbYNNPSZ^^\ZSSRYQGJLLUeuwmSFNNNKMTSNPRJ@FORTRSMDDHINSRY``ZZYWUKDIOHLNPUX]YOSSW]_ZXTPVRHBNX[JCQYSTQD=IPVU`f_QQC9NZ]YTSUWW`dgebh^TLMRRSJ\e]VTXU_aZPVRTTVSRRJXVU[`bchfcWU[^[]c_UTYTV^_ZYTQT[aXT\WQXV\^bf_XUUYX[XVYUXYZXYYURRVVRMQXYSZZ\XSQIHHWbaTQT[\\YVROLEFGBGJNMQW]TUXTONQWa^ZOIQTRNNUXTRQSUSMMSXXUOOQTRWXTR]\RLJV[^^WOLPQSXYQKKTTTUTLOYZTRNWXPRUWJUMTXUXWTXTXSPUWYXYVSUY_]URVTUTLXRUVVTOXUTTURSVUYae`\WUPPSTXXVXUXRPLYLSUUORV]YZXXPNKMLUUSRRPUVTTTUTSTWYY[WLPTURSXTPQSUUTTWXVTUXSOTTSSWWTUWVROOTQNSUTUWTTQIIJVQ\bb_``WT\d_RCANTSOY]XVZZ]ZXTPIMOTUUWXVUTSMHJNRXWWUVNNOPRTSWWZYPPSVSSWUTSQMEJIJMQWVJ>FSZ[VVROQMGOPMOI>KRVWVPPRQDJORNOLGFEKNJBCGMPLFLRUY^YOMPOPE>FMNMMLNNNFJVWXJLLLVVMHLNMOTPINVUSX\TKKOPJMRQNRTUSTTWZVROMNJJPPVVTNORMRVTOIKLVUUYTNKVZZVNQX]\USRSTW[UQMFBLQOOGPX\\YXZXSSUOMGFGGJNT\`]VQV^ZUSRTVYWTKIKTXWPMNMKNWVKNVURSQLKPOUXYWVRJHOURPYXSTVYZVSVSSSVRSTSSSOVVOPOPVYZTSVWTTYZbhg[HORSSOIBFOMNQPLFGEDAR]VOW\]ZSRLFTVQQY]VIHPSPMNQLTTTVUMIW\ZXRSP@DLCFNTPSUY[WPMYa^YVW\\YJMOPQSK<48QVOEGMQQPHKTPOSTNKHHCDFJKLNPJOY]TGHKVXUUTXWUSPGCHQWYUUXWU]ab^UTUVYVTONLHDGHLS\]YZ][]Z_cebcd]VUWRLNGOTNMNRPKPRWVMOQMLPRSTTPX\\XSSUVVUTQLJMQNTWUQQNOSSOVYWRQPDDMPTPGDJONLOKHSV[\WUWUU^^ZX[YRHMPX^[WUSRNJJFHQUQTSNRUTSRSX`^YZ^\WSNMNIHLNMBCOXTQUm€€nYQT[\[USX[VOJSXZ[ZUOSSSUW]]^\YW^`XORVVIMQQS\YTKLLIMX[YXQHMTXUMQ\b[KUONW[UGFNHU]YZTP^d]VERRLTeYLI@IQd_QOSR>6WIUNOV\RTUabW]]YVSMPRQURQUTUblf[WYYTV]d^UY]YRSV^^\ehii_VUVW^da`YUUVY]YQVUMTUTVY\\bVT[[UVWXSTTVZXXQTX]XSQRSH=MV\ZZ]ZVMGNQOMPV[a^TSTRQRVTPRZXU[[WXYZXX][WXVMNOQUVRPTZYTTUW[ZUPLQUURIS\YSKNNVUU[YNPZ\WVRSRJRWRWPNQUTUUXWUWVTT\^ZZVVUVTUVRTVVTTWXW[YVVTOPTTQNIRZgf\SQOOYOSXUUZ]XVURORYTV[\XSPNMVWWVUV[XVYTUTQVYVTTRY]YTSVXUOLOLPPPT[^ZWXWRT[\TVSRUOJQTPQSVWTQSXUX\YSRWUTQNJRRSQT[_]WUSROPXaa\\ZZXXZUTVYUNUXUROJGNVSY_^VTRTWUSTVZWTXZQBDEKHNNVX]YVTTORUPNUQJJRLAGNPRSSONOOIHMTPLROSTSXPLPQSTNQTUTSRMOVVLKLJLRXXTKGOU[]_]XUQOPMLLSRNX\]VMINPOKORYWWRSVJEFMRNMLIABBBFLPVXVKFPTRKJGOPOKQYYYUNLGERWUPOPQXZXPPWULEOSNUWOBAGJMIBEKRTQKNOX`^RIKQVUNIIFKQM@@INS\b^ZVURNWTLHNMJPNKPMDAHOKHPSRJDLSZXSWWWTGFJGNRSHELNSYVUTNLQX[XQHMTX]YWQPX\XNLYYWSQPQTZZSAAFNTRIB@GMMTYZVROPQVYXRMOQKMU^`]WWY[VSOLMQRRNMPVTRMLQWWNIPQLLLGIHEMPPPSPSXUJ@GSTSXZUVTQUURSURNOMPSTUUOQTPLKISY__WSXWWUWYaijdYSSJJQPJOPVTQPFDIOPLVWSTRRQLJJHPSSWVRGEMSWPFELQOMOLRILSWSNKORQKJ@=GPWQOOVY[VQVPNQVQOTUVUSQK:A=AMUZWLELRYSXY[[UTTTOJJQVYPMNNSTRYYVIJNNRVW[`_YTSNOUYa\WURY_cb_TRSXZWSMRYWOILNQOTZZZY_a`]ab]\a^XSONPPNRYWPJMRPTY[_ZUPJMQUVVUOOV\`bc^YZ]^[XTVWVWYUQORQRRJMSTUVQNMOVY[TOWVSSQKSURWWRHIMS[^YWXXNJMRXWSRSXVSLOSNUXWRUUWWRNPPTURPU[aaWUSUVRTPQHGQSVY\er{tbRIGQSPKOWYVQQVTX[WKIQXY\_c_\X]b`WQVVOKGRRPS]^ULGDOVTX]ZTWZ]VMGOXYXXTW\[]RKTKLUXVUY]`^R@=PV`ffbZX\frj]OHQK!;IUMLVTMWRdqf]^^]^TVVWKT[ZJJPYc`TONVQWV]YUTVY[YX]^Y^ed_XUTYRSWcc[WYRYYXVXWUYWVUV]abcPWVVUUVTLMT[^\[ZZWUS\^YUVV^_\X[[UOBIKNNLPUZZXYUPOPURHOYVTSSRWZ[XU[ZXXVPSSKKVWNNYZYPLLRJMQLOU[ZVTRRSXRJQVXTQOOSXXRVXVTRSSSJTLUX\ZWVVXVVRTT[YVUPSX][XVTWUSTLWVX[TVQOUUQLOSUWafc\YTSWVWXRMWVXUTXUSTXWWYXTXWWYZUYTRRTUWSURKPUTPRRUSVUTOQMMVROSUU[_[[YUTVVTTTXXXWVPQQNJNQUQSRSWS^_VPROVMMKNQSTOS\_`[XWOLQXYY_b\TRTNIPSTKPQOPKIFMUVW[TTWTTVX[YWTROD:AIQSPMKOWZWVW]ZNNLFIOTPMMPQPHKRSTOHLPMJOTUUZVJHSYSFHMSRVY\][YQQTYSLJMORWWVSQIKPUSX]^UQNNRRUVRPTW[ZTOQQNNRYXYXUMPVMSRQRRLKMPPNROKQPLNSWRURPRQPXY\ZONIKILSTQNRUQPSQOQSQNOVWRNSOLQWVXWVOJQUUWURNSRNOMLLUTNIHIQRLLKPTV`a[YXQJJOPQOGFGQRWSQVVSCCOUQPMKNURFDLQMDDFLQY]TKOQUTPMNNOSRRXSRUY]VYZWTSTRPLSSTWRJQQQQPLIEJTWNENQOHMUZ\XPOV]^Z[WSOKQVSTVSUSUVTTQNHMRRRTWZXTRMWYQIPOIC;>FQTPHHPQJHPQKKJJMOQSVTQORRPT\TPLMNQQTWYSSNPPNMOWZURXXMHPUXdoofSLFERVSHHMRUTZXXZYNSTPOMMPTLGGKUX]`^[VQRZVJ@=FMRQTWZWRTPLLNQNPMGABHKHEBMQY^ZQPLMWWPZVRRTWSGEKOSRLTWPMLRWXTNJTWUWQOTW[XPPTRRSTRPLHTXYTTTRZZRJMRT[ZWURUY_gkf^RORSUSVRQURSTUUYSR[ZVXba]ZWUVWSUUVVWWTUY[YMDELSTTYZ\[VRSWTZ]XOQQXZ^`VSU]^YUXVVX]]^\\^\TPMNTXXQNKMQVTSUSVZY\VQUYTJJMJKOJOWXOOMKIQUWWRLPSZWQNTNPXOLGQTZVMKHQRNMNOX\\VZ[YZWROOOLINUVWapvoVDDCMSTTOQQTVURQQOMPPSZac`WVQS[ZXRPMHIJPWPOW]VMHJQRJLRWTUXTOMPRYXXVRV_fdaWY_T[^X[WWVWYYSCMVTX`eiilljO7,OSN?FBLTVLQRSajdVUQZ^UJUUPX^]XOX^_ZVUOX[\WUYURQUUXYTYWXX[WXTVSKOVZ[YWWWWV[]^`_UXWYWY]a\]QSY[ZWRPRRUZb_\ROLSZXUUUYZVNTXVVRNOPTWNOSTQQYZOIMRTNRWSOOQNLQNQSTXZ]VKV^ZQXYSVYX\ZQRVPTSRQQRT]]YSRRMMPXZYTVMHHLQVUTRSSSSMJQVVZURMSXTTTQVXWXXSPQVXSSWPSUSQTXWWVPNMMWTRWVVT\cg_YVUY[WXVTZWUTWWWVWXXUZZX\ac]XMNTQSTYUJOUXVVUUUTWUUUROTUPLMSKMR[^\ZURTTTVUTWTTWXTUUTQKNQVOOSXRSTSS[SNSRRWWVXVVYY]\]VMHMNLIUWUIGPWUQOSLKICHLTVUUVVWVUVVUSSSQPQQME@FLITVQOS\\PJOYXQEA@BFPSSTWZYQSTOMNPSUJGMRW[`ZVKCMLOROPKQVVTWSMPWWQRKKNTSPQUPMRYWRRTUUUPLHOSPELSQPTTTVYVUSTVVXXWTYSVUNPRLFQXZTVXVUQPVYSSRSVXTSRYWUSQHIRUWUSQTVTKFBLRPIMSWYXRLINTUVSWWTJMMLNUUQPNPPLKGLPNLJLORMLJNMOSXUIHOPKNSUPOLLMTVUVTXXPQOOMLQOLONKEJHJGMSWVX\SLVZXUKHGLSVVJGKMTVVTWUQOMIRUUWXUVTRNJKLONOQJKQSQMMTSRRU[`XRVY[YYZTNJHMVZYYYPOKNRQVWURNQPUY[YWSMQSMKJEFGBCFPYZTOOMJIKSUYRHILNKOPKJTUNSXXRQIIRVVRTTVSTMLPNNNQ\\XTIEGM]joj[RPKNRSKBFKSXW\VYXZZ[SSQHGORPPPTYXZYZWVU[]XGGGJOQR[XUTQJHMMQJFNKLQTSSJIRYZXRIHSPZa_USKSXZTD;7GSUGMKW_cd\UUQPPOXZVUUQGAFLPVWTTXNIJQUYZNEKMEB;APWVSRSX[^gki`ULMSTWUMFMPLGHSVSTZYNNW[Z[RJJLJGMRWSPSWZWPHMRSTUSUSRRTY^\SSUSRSVY]\WQXZY\YOKNU]]\ZUV\\PPOLNSTKMOIHNKOSWOPQRPHLRRLKKLQTRGSTPIGLQQVWVSMMIPUPQUSLJGPNDQZ_\YVPMISWSNPPTVUZ^]PNSKIKLLMTdsyr`PKMP\\\XRPUUQTSOMTZXS\b`ULKLJOUXUPPNORSUTOPQLGLV[VGKNLJNRRNUVNPTONMFK[^\YZURZ\`ZXS@FRZ[QH8FOWbffdbf]ECPIXea` cbNWQTbVJLVQSXXWPJLLWZVJOZYXXXPP^]UUY[^_^WWa]YOMQXbc\VTVRRVY^^VWVUYZ[\YXVYTTWY]YUVGITY[WNJORTWXTOJFORRTSMPT[\RX^YXPLQWZYROQQQQSTOFJNPPRRU[\YHFOPSTXSVXVRU\WJQWWWUT^a\][ZYXUUUSWUVTNMOUZ[USPVYTIFJRUVTVPNNXWQNXZUTQOQRWSROPVXXYTSWVWSOSQWVTTT[\XTQONTVUUVPU]fg`VVYVXOQSW[[YYXWSPTUTTUUOT[][SPWWVX\_XVUZ[ZVQVW]_\VVUW[XTPLMUUNRZYWWUTYVVUTSWSVWTVUTURTVTRPRSVSSU[[TQUSUTSW[VTWXR[b_WXUSNE=IPQU]^\VNNUSPJLOUZPUWXYYRKY]\YWOMOMGJLMPMPUVSTVVMFLPUPNNNHOXWQOORSMKMLKGGLMNHDITY[WSPCGSVVVHENWSTWRJPUSSTNIOMJHSSMLQTYXTMPZ`YMJPUSMMMMNRPLOUZ\YTWUVXVSSRSWRJJOJGNPPMQRQQOIQQTWSMLUYVQOUWUOFGQWTSQSYYVRSHGPLDBKNTWVNLMOIHNPOJEILIHCIOSRMHJLMKIPRSNOOJHJKOOQQI?FSURPTXUPQNIIIKNQSSOMTMOONORTTRPFMPNOVYY\]VHPURNLLLHORULLOSPSRLENORRVWWSVVNJKUSVXYSMPSPSOGBKTVXWUVZXW]b\XUPHIPJKX_YPJQTYRAADBKQSPPNPNROFNY`_[VUTRUW^][YVWQOIGOTZ]][^\[VRLGFMTWRKGNUWKEOMKKJHMSIHHHGSXVMJH@CKSRMPQEBOQNRXURHEQQTXXWQNIJMKNQRNIJRWSKX[ZXONMIRVXVVKGKTZ^]VMLLORVQMW[kspbYSQVZ\VOLNSOJLPPTT^\WV[UONMPMLRUZ[ZTNJHINQJKNNLTZYUTRTLJPTUONGNUSRVVPMJJIMORTW]]ZWWURRRTB@RUPZ^ZOJQTJKMEdkja[@SWUIU_XMMPVXKS[XUUVKOJVMU^bc_YXXb`\X_dfbWXX^VTYVR[cdbYTWSXU___[WVYTXVXYZUUYZVWZYTOMJOSUQQSSUTTRSRPSVXSQPONWX\b][VGDQURQPLLNNRSLHJRRMNQQWYTNPTTSW][ROUVVVXOQUYWRPWWUSV\ZRSMNWXTVTRMTYbb]TIIPVXSPWURX]]UTSXUSPUZYXZXUNVTVTPNOUYXSQTVPRSVZ]^WTTYVVRUSWZZRRSTU^b`Z[ZXQSUWRUXRXVXWXW^^\XUSPUVUTPWUWUWSUWTUUTTUWY[ZWWTTWYUSSTSVTNVXWQOVUX][WWQRUXVYXWPPSTSTQQLPQRUY[URSUZ\USSTT_ZY_cWY[ZVQLCBEQYZ[WPEIJOMMLMQTTSZUTPMPU[[^]YYYSNVXVUQLLSXWWVMJLKNLOXXQT[VQNTXVOGELLIKEGIGBGQ\^WSNHITUX[TFRWURXURMNUWN::CIDN[_XTTWVTRLGLRVZ\]^YWUURSUQTURWYX[]]VSLDAKQWSQW[VQRLGSVOKIHKQQOLIDLNOPKOSYVPKJKQOJHOY\TX\ZWTPONKNMPTQPQLEFOK>ADEIMPLISTRPMORRHGMOONPTUSQLLQUURHIMOQQPRLKGHHGIOTUTQQUUWXYZUQNTXXJGVXSUW\_^VNHHGGLJQSOSONSZWROOMHEOGKLNNSQKHMMQVWZQHLQUWUQONPPMPX[WTTUUVTSVWSNHJMOTUPRUXUNSSPMPNHJV`ZPJQRTSSQNLIECLSSKITcc\RLKINQXWPJROPQJQWVQMQTQONPTONX\ZSQNRNJIKKPX\[^VKLNRZkrm[HFB@HORSRQQRMKHP[\WVMFGECFJSXYUSNOJKRTUQHKOVXPIKLGHT[^VPTYWVKJMRYVJNOPJJMOSRPQONONKLSQTSXSVURCLS^ebURUT^YHTSNKQVPVSNMOUWVUUKJR\`][ZRQUSOHTPSRV]b\NRURSRX`_XQLLWXVXQHCJSOILMOZff`XUVZWSOOKQUQLLMQVTPQY_de_ZRVVZ`_]YVY[]WVQNMLW\[VUY^_]WNINQSNJMRVUKNRUW[YSMUYVK=HOLJGE@ITVTRUURQQKHOQNPONIELXZVNQVWSQQRPOPIIQODPVTONNLJOWWWXTOOSVQMMMORQY_\XUO`mnf^WQW]UJJHLPF?KRTMQV^_\VRSV[\ZPORXYVSKGEBFPPUZZZ[WPQTTWWNU[YUPX]ZUNVXPNKHE?JNPSXZSMU^SFLPMNZZSL?E@=@F6JB;\gfZQAWUdWMVWLWRTKLNSUMSLTPKXW`dgec]ZUZbZW[_^WYXZ]UYXTNY[^YWUWWY\`^][VWVSPRSUXYZZ[UY[VUUPONY\XRQV[Z\`]WQOVZTQQNGJW__YPNGLSSONQPPRUYVPUVWTF>ILQROQWXXVXZYLIRRQUVSQVZVMPUWYYUX`^UIHPSSU[VLMV`d`VTMLW\[YYZZ^W\VWXWUNSZ]]Z]^TSVYYXVWUPSRPOQSPMUTW\\VQUWPOSUSUY^ZUWVNOXVU\_XYVXYX]YYUXVWWOSUYWWXUTXWSVTSUUQMQOMNTWUWXTSRVSWWURUWVWXPLJQSSJVRSV\VVXTY[UV[YUSVVWTRTKNOKORUSTOMSUUVOMPVUWYZb`YWZWRSRUUQLGLPUXVSPORSQJHMKMNKIFKVZMPV[\Z[WTXWVTQMQTUQRNS[ZOA@N[]WUUMJRUWTRPOMGKJMLIJEIMPRMQULJRX\\YMNYVWZ\TRMRZRG;?EHQX[VTRUWRNONMNWafif_WW[[YSLXYVTRQT]ZVXYN:?NQNSUSSVPMSVOGLORWWSMC=EGLSSPPQGGOPOKLHDKTOMVWU\XUSOOPMNPMJQTKHJG;CMOSQQLHKMOLJDNTSSRNSYZXSQRQLLNNNNKJQSOKKPNJJFJNRTROKQVVQPUTPLEI[ZRMRPHHOVVVRQNGGUUQLRPOUY[ZURVYYRQURRRRVSQG;KWVTSZVLFLSVUTUXXTVQMQVTUSTTUWXXZVWSLEMPPQNTYVMMRRMFNLHOWSMQVQMPRQLGLMFCKNKRW]`[XSPUWSU[ULPRNPMJLHHEJUXTGKOLNZaWPFINNPMHINWUYYUKFHKXmvpcSLLHFHJKNTVSOEGQWUPKKHGF?FMWZ[]WUPHJRUVSRRQSTNGGHHCLSWULILPQMNJIIDDJMK?9GLQRRPFCBJMPTYSRRUYXPPRTU\\NUYY^ZUUPSXWQV[SMOTTQTSI@DFTR[a^RPVTPNZYVS]gaVSORUNPY^]VQMU[Z\YRLJSRJKFHW]^\Y[[[^\XRUVVQJU]VTRUUW[Z[XXWKNX\XXWURRSSNOH?JT[\]ZW]_a^PKOXXQUXZWSPRUTSWZUTX^[STUQJMQQPVXWQRWRMILELOQMLSUQKSXWMOW\ZSKLUVRSQONIHTZXQPHBAKUYXUVVVTRMJILNLHOZY[TNXdii`WKPZZZ\WVUNHNWTNKNXZW\cbZU[b]VTZ]\XTVNIPZ\YSPUWSMPSQPSWZ\[VZ]]\VPS[USNOJFILOVVPOILQR[bbUMSJINT]ZD>JIKBET\PB9>DY`d^O[c]UOTMKVOTQMWPOMX\Z[]c^`_^XV_TWYWNXW^_YXUVX[`WYW]WWXY\]fniXV[YUVWYVYWTSUXYTYYSV[[\XPU\[STYZTOPTWURPQQQX`_YOJAGMQPTRUUU[^WHGSUODIRSUVMLNWVSSWSROOORTUOORQKMPSPSUWY`dZNILVXZZSSRU[[ZSQOHNUXXYXU^\QNRSOSV[`\XZWVSVVTUTRTVRNLP[XSOVUOLOOMNTWONRRWX__WRORXST\bd\VYUWXYYVSVXWSQVVVTWX[UWSSRXYXTSVUTSVTRTWVSRTUWQTWSNT[ZUSMVOWVOPWXWWROQRTW[]_^XWSUNVSUPNWVWOSUTVRQNLPVWVSSVT_iif_WMJKNSZVPNLRWYZ\XMLLPORTTHKQMJJQRHCFOVYXXUTOORPIMUURTPTYXTKKQY[ZVQOOVYNJKQOH=BFKPTRPQMLJIQTTUUZZXNELURNXURQQRWTLFGLMTWZXUQQRTTQLQTYWUOPVQICEEEIMMNSUSOKJLLC@GD;@DJJGGFIFLRPTVXPJW`]NLVSJD:28?;DIQPJMQSOSZXRNROKPVKJJOT^][L>EHIMPY_WP^f`WZ]]ZRPX[YVUWSSX\YVRSMHIFBCMQQVWXSTZVPTUUTOKN[\PJLTUZXVRUVOAKXZ\WXYVOQQRQKHOS]b^YXWVWTMUWPQX`_ZURSVULQVTOSWZRSSRMPYUVUXOGMSSTXVPJFIONJLLFLTROW[]WH?AKNMTVSOHLSSSRSTGDGSZXXXXUTVPMOSROPWWTMSY[ckncZTJKYed\[[\RONSSUPOROY`_UNS_bZXWYSOTUQLTY[VMLPLJNXY\\VWXZVQSUXXVMKTWPRWSQXVW``\]TPLO\aXWTOV^]OOP=;HCKQT_[REBOYSNaTSU^TRPNRPM^\QXSXOJW`g^YV_dfbTV^[UXUSX_^ZZ^ba^a`\\XXXXZVWj„zhX\\XTTRVYYYY]UY]a_]WUTQONPVRJHHQORUVW[ZWSV]\][XPUVNGLRTUY^]XUWQHLPNEIQU\YRKPUVQTVTUUOLQXZZZZUROSNLIMPZ`bVKKSSTRTVY_ZWVWTWRIFNSTNKKNHEOLUWSSSTTTUWY\YXYWVPQTSQMX]_VXUVUWQTVTQVTPQRSZZ\[VVVWTV^irk_[TQSWPPUXYWVSTQRVXTXXWUWWSXZUPQVXZWOUWQNLPSTNNQRPLS\\XY[WUUSVTXUXXPKSROUYXXXWUQNVWPVTRVQTQRUVOUURRQQUSSOJVXdkkc[OCGQVMHQRRUXWVWVSPQX[\XQLJNSMLSTQMHPTVSRQDCLSQNSRTSX]WVVXWSNMNQRPPSVTOMPRNHGCBBIRNOTQLKTSMOQONXWRTZ[QHORRPPTYUPFFIPNMT\^[XXSPUPGKMPQSX\[TQU_\YTMKIMUUMRVVUX\WKJTVSXYYTWUSPQRQPVXTIIRSXXOPWWTUUUVTQRQPPNKGFDDISVVSQPTVTPRQKQRRSMKILKKNNUTQMOW]YTVWVRQOSVNPSSKFILPQRMJLPPNKPMORMGKNOM?BFKPJGKPPTSOSQRQMPSZ]UN_e_YSKRRPJOUUSNPQPQPLKLOGCFUXYYRKNSVUNRRX^XNOQSQIMOOTRMLLIKQSRVYYZ\VMFGQROLPRKBEHMLQRPIEDDHQQHJPWVRJKKMHJRVSM??OYXOPRQRPRQJJHEDGLUZUROSQNLJJGFKHJNOLISYYZUOMJMIAEKLJKTSQKJRRRRRQOPSVUTTWWUQNQNMRWURQNKLEC?FGDB=?FJFBIPPSXYSHGHC9MYQEFNH=@BGHFB>;JMHCHRTRZZUUOMHLUUSVVXZ]ZOQTV\XTVURP^ee_[YXUKQ[]WUZ^WPQUVSONJCKNLNRQUX]YQMVUWZZXVWNNTTNHJLQQTSQOTSJLW_[WVUWQIRZ^YXZ[[[Z]]TSY[Y]]VOVZZUUUWXWWWWYYXbeaUSUYZ][VRJFKSSLPZXTPHJPTPIFGKPRSWYSMJIIMJLSUTKHGFKKJT[XQORUPY\Y\]^\UQRSQQTVXVTPXipqlc`XT^gcYW]`^VST[[VNCGPRUMGKPVYXUNJPRQFFMWTNMYZMINVZ[\ZSOSPKLSZYTNUUUOKQQMWVKFPORHFUSZ]\[cfgpjX?9:>C99NXhaYM;J]^^f{VXaegjlfWMTVUQSPRWNM^gia\U\]\USXRTVTUOVVYWbfg_[ZYZXUSQSXY]x€yl\\WLUMWVWWZY]YY\`]ZTUYVRSRMILNPMKRSX\WPLOSX\fcWSVQKMMKPPVTJJWVPQUUSMRTZ[XRLPVZZYSTYVQZ]]``[SPQQJHQUUV__^YRMMLHIQ[_^VVVUSRPNNRTPOLUTMMUSVUXMRQMNRVSVV[bcb\XVPRPTXQMXVVUWUUZ[SPTYVVRWTW]]YQQTVd€‡ƒn\ZXQPROLNPTTMSTSTQTTPNUXWUVZXTXVX]^VSRTUSUWMRUOVUQNTWS\]VQOSWUOPVVTTTWTTUWXVSQVTPKONQJLQUXSTOKPSTVURTUTOJT[_a`YWQMPRSLGKLIOWUNLORRNOSSSQNIJSUPPRUWTMOTVRNKVXTLKUWSOTXYUWVUPLHHRXZWXTQJHSWURPLHDGJB@PNGKRSNKMEEPRRS^]RHIQPMNUUPIHJKPRUYYXUVXTQYVK@DIQRSPZaZUWXQLKLUVXSNMMMRQYYTV^^[T[YTMDBRWVPNWYSQTWXVOMNVXXXSQQLI@@IJJKPURNKGPRSUVRKNSOKLNELHE@KKPPRQPPPLNTRPQSRQKLWTOFHJBHLNPMMLDCJMNNLIHJMOROQPOPQQQGFPRSSQSOLKPNLMV^[MS[XSSTV[[VVWURPOVUQPGPTNMMJORNSTQLLLIOWRV\VPOUSQHEGKSOIKNKKKLNQQPVYWPMILNLIRWSQRGEOTUNSVODCNOLILRUUROMGHCLQPHF>OY\QKDBKNMNPONIIKRWXWUMJPRTRPMKHHJMRURTW[\YUPNPPKHJRNORPQ\de]MJPUTWYWOFOUXWTVZYWYTKHFHGLNPSOBINQTX^UKQTSOLDJRQOTSPRY[XVUSRLKHDORNEBJNDDIMMPSUVRMH4*DNJ2HNA%=MLHHSQ?@JMQOHNNLKJJLLTSLHFKMNLINKNVY^`ZSMNMPWae][UPQU]`]YQUZSRUSQKFLNJJSUWX\bc^^WQQQTZ[ZZYPKPVWTOLMOQLR[]YTSYZVQQRNGJNW[X[VVYXQTZ\\_^]bc\WVXRTUVSOSVWY\XW[`]XTSSSY\YRLNQQTTWWRMMQPVWVPIJHOSJJSRVVTSPKFHHNOLNKLMKDEDGNLEGSZZ]\\ac]UTRMOOQSPOdv{ujgb[PP\\Z[`cf`URQX^[QJIOQPJLFMX\UQUVUNGBEHMQVZ[PEKLKLVWMNMGCQZWUORUXRTSPSOPSRRUSK6?OXYaec`^VYYJ:;1:=5>M`j`TVZ9@PGXZ=VZqqpha[[Y^d^YKVWUWQ^c^]WSOTZVPRY^YYSQPVVWXX]ZWVWXYYYVTVW\ee[WWVRTU[^[UXYVX[\ZYVWQPSTX\WKIMVWQINSSPLKMNPW_fgZPSTJMNJONCEKVYVNPW\SPVYX]]XTNKW\\XU[^ZV[^_\YODHNLIKNPZec]XRMLKOV\`_ZYWRSRTTSLNKPOQQXQIFOVTXXXSNRTSPXQVVZZUQNSXXUOWX[WUXXTSXWUXXXTSQQVWZVQJPVgx…m\[VRKPNKRYTXQLUWMLSTSPRSTSWXTVWUYX\VUUVWVRTPUQJOVWTTRSZVWQTPVXOWVZXTW\\VSWVUVUUXUURQRSQSPQQTTOONQQMNMTVSQMTY^R\bb[WSNLLNKJT[VVUSSYZXQMJLONNSXUSSU[ZTNUWQLPWZTLPZ\YZXTTPQRQNPQLJQRQPONJFPWVSPMOJJOMOTPIKOQRTVKFGLOPMPQMGCIQSSNLMDPVSNHLNONKGHKTTMMORPPUXUYXXYRLJLLMNPLHOUSMIQ[aZROQSRUUZXTPPONKQWXVRLQVSPQNFFRRWXSSSSR[`]XYTRROLHKMOQPIMPQKOC@MPQKJOUWPMMKJNQNDKQMHV[YSQNKJGJIHOMLNUSPQSSSGNPQQPMV[\QJFOUURQMLMF??IPTUQIELSUQQUNMNTXZRMOY[ROMQQJFJNQQRVYYajoeQBMS[`b_RILLPTVSX[ZUUWSHHLRMQZ[QMSVY\ZSKMXTKHHJQQMLLLUX\ZVWWQTUMBKOQSFGMFFLJPQXPNQOKJ<IUSNHQSYSVTNEGOYX\gheb\POSV\ZRRVTRMSUNGEJQQMQW[\dhcSTWQMKRY[]\WQJFMUSTRQNPPPRX\ZXRSMRXVRQPRSPOVRJSVRKQY]a\[bdb][VWUPNMIKPUXZTTZ]ZXVTJLSUQROSUUSNOPKMPQNOSSPLJMMPMKPVYXRQLJTVVUNIMNJQRTKJKKLIENQRMIMW`a_[_ZXPNU][^luvwmaRNPU]YPRYba\SOW\\WSTY\XXVVUYYRUYWWRKJB?HQRXYRFAJMSURHLKABQXUKLINNEJQNLLMSVZ[^R?;82KXX^`XFDCGKYXWH08@W\YTckhL.IXDA\SabTLW]ajiXWVRQSOMJWVUVRJST\_ZUV^ca`^\ZXWOWWVVRSSRPUQSSUW[[VWUUVWUYXSWYYWXY][X[[YMNPV\]YROWXTUSSQJISWSMU]ecVNXXQMM@CJJLTTRUUOQTRINROOXXXYVVUTXVY]\VU[WTYNHOQRPLGM[__XLKNIMQV]ZWTOJLLOWZWUMMPPPQSTMIIWVWVVVRRPMSOWWTQUUSWUVUUWXUVWXVXUNQVVQLWT[VQRQUTWNRSUelg[\]WWXUTSSWYVYVVSQWWTYXSQQUXVWV\]]TUTWVTTWVSPUTTPUWUQSTVWOOSMOWMSUUUTVVXTXUSTPPMQQVTPPTWVVVLTWVTSRRVVRPRWQLNVSP_`ZVPSVRMKQT\`\SWWYYXUVUTQRWUSOJEAFRVQKSUOKOV^\ORXZTUYXVOOOPMOUPHBKNJLQRPQOKNPOMOLPONQOQVUSRQSRMIDOPNSYYXSJHMQNMMMIJOTTSOLMOMPRQPMIIJOPONNRW]^a]YUQPYYSNSYVTMHHLRROTU\]ZTQPGJGIQVXVTUHEDACJLQPVWVJJSZ^_\VUNHGJMSRNMMSOLHOVTUV\WWUORUUYWNNJIJNOMJKJQQGHKOLLNTVRQTMHGIQTSRLILSYTKGHJGOVQQQNSTNHHDDJRSPQNMRVVXYUKIQTVTSRWPPYVSMNNSVYYZXWUTJDGOUYSPSVY\_\YWPINKAAEEGPLEKPLNOKIMHADJV[XMGLKNOSMIFKKMRXVPRNEMTQJOSSKIFCJJJQVOLSVVSOQTZRCGRYVRPOOMLGB=BILNKILPVMQRNTYYYULIFJNDHNPNFBEEJKQPQY^did]KFU_fg_LILPSVYRRVUOTX[XV_c_VZYSLNNSWRLMVXTHGIJNQTRLKQQRQSXZXQMNOIGFNMGHKOOIBIIJIQMGLJJMPKORTG@C8C@CGRMIGT`aTWcfaQLLGKVZRNRSGBIQTRJMOSMKTLMWYXYWUWXYTTSSUUUTXWUZYVTWVTURWUWSPTXYVWRVXTTXXX[YUX[ZVVWSVSTTNURRUYTWWTXSWTUVXQKQOUTUYWXUTVXVYXVUWTKPPNRYWQVQTWYXXXTVWRKLLRTRQWXTVWaaWTSTQNOPOMOMQOPTVSJOVRUWSPOLRTVVTX__\UVVQQMPUWPLNTTMNRWWNNRRMMQPRZ][YVUQTUSVXX\^ZROORRPRLLSRMEEHONLJJNRPOW[XRB@GNMMPIHJLKGHOSST]^VPSQQQQROQSTNIGMPKNSTYSPOLHIQXRONKIDHMONRRSOOPMLNQOPRWXY_d\QSUONINUOMTTSZ^^VLMQSNUX[[XSSTWWOJR\[SJLQWWUTPTKJTTMHJIJHKPUQOOUXSSRRQNNRQRMIJLTROIGEHHGLNTTQPRMOPPUWWROMKJJJNMDDOTRKOOHCMOMNMPNORNMPOLNSSMMSSNKMMONMU[ZSLQVWKORQMIKWXZYYRGJPSTSMSWSRSLVXUNJLPQQROIIEHJQVTOS]XNQUQNKRTQROOMRSKJSVRQTSUOPQRMJSPNRXYTUYVKPY\VKGMONHENMLRTY`egeZY^XSSUUTQMEEGOVXZSLNUXYWX[ZRVZSPKFKNNRQZYTPUWNHMS^edXNPNKLWdhe]\VLNRQPNWZYWVTX^VZVZ^[TPQPPNOY`^UWWRFDKNLL?KQNPXRYVKDMPQTMMUTVQLMQRNGT^\WUVPLN\[TQYZKKREKSKJSORMUZ\RURK?=LSSUWYPHIW\]YTXUTSVVQNUVVWVHKUYZZW`de`VGHCNOMIKSU[[\XVVY[ZX\ZTNPPTXW\][YPKSXXTRRMKJQSQOOTQKSX[]XPJMJHPWVNHMRTRLMRUYWTYVRTSZ^]TRRRQLNLIHHPPORKF>>EHLPTQQURPVXVW\\ZWRSQLRMKJLIKQV\YSSZZXZ\\[ZUQJGOVSKJMPZ\[]XRTSLIV_cde_SKdx|wlaYSUSFJQTMPUOHFOPTVOO\\VY]ULKTTVPOQNMFINMHC@FJPOIT^ZWVJ@MTOF;?@ALQRNWZRTZZSG@P]YSTUWU[YXYZ\V[c^Wbfd\]KLPXQGS[XTOHikTDCVTSROOWaonlTRRRV\XUZ\YRWSWY[\ZTWV[]\YUSPYTPXZVVVSTNOXVYW_`ZWPUSVWZ[WXVY\[]XVWZYYZXZSPKLOJNVYSMOSJPQTYWNLJMVZ[[VLGGHPVUX]WQTVRIJOUVTV[ZVX[WXZXQT\]WNMFJTRQQIJZ\^YZ[][WTMGMVYUXYUBEHLKPNNQSMMLKUUPORV^WVVTVWWTWVWUQVWTXYVVQRTWLUWKLUTXWTXVVYVWXRQTYWYYWRJJNPPVWSPQQTUVVWVTVWWXYMRXUWUXXWW[YTWSXVURONOSXUUPTQTZYTTZUVTRJWUINNRVVWXSW\\UTSURNRSRRRSRQRRPQTSSUWUTWTTY\\XW]fifZY[QNLTTVPJQVRMQWWNLRRNNHLOTZ[XUQNPUWUURU^[ULGLPQUPLPUNCHSWUOLNRTW_c\QHFNQPSWSNMRKMPNRSTWTSPPNE?FMOOIPONJOVVSLLSXXUQNJGRTTPRQMKKGGLNVRLCELMOMKNTRSSU^a_`ZLQPUXZWVWTVYXUGJQRWSTYW\`[QNNUSMSXXTQNT]\WRPPOPSQPNINSRJMSPLIKNKGEBLMMOKLKNOLKPQWSJCC@DIPTRNNMJQSPTSRWURIFHMRKFKOSTJIIAHIGKNQOOSPLMNMOOMA?GINQHGPPQU[ZVQRUUVXZXPKHLROXVPPQPQTTVZ[XSQNYXTQRQVSQMMORI@BPOMNSQMTVQMGGKHGPPJPRLCLSQLSVWWWURMSOPOYVVUWTNORY_^TMJMQJHJJMQUNMRX_[\ZUSVZXTOFCCBIOPOOUWTTWXWTMCPVRMKILPPQMHOSPLSUSUSW^_YPQRQPLU``]ZR=CMRXTSSRTVXYbeb^\ZUUQPTQPPU^YVLRSSPONMOJJPPQORQNDB>EMOLITXVQTVQROOZ^YUSRMFQXc^OVXRNSI8<=KSTJMS__\VJ>C@MLBKS[]RILY[UPKIININOXXXZVQMNe_TXX_gkcYWTQQQRNHJQW\XVXZYPX_c]VMHMX^^^[WYZVQXXUUURQQVXTUTRQLV]\ZURSLKJNPSPNROKMMHQVVRQPLOV[]][OLNMNKBFGDFLMSUQNKIJGHSTQOSUX^\WNQVOPTPPLHNKQOKORRXVQRVVUV[XWXWSIBKRSPKEDKUUYZXYWTPRU[Z^\UMTbkhee\X_ca\WSNKMLMPOSRRNGPRQWXNHEMPTSPNPLLQSLGJHOOLKJSXXVMKFHIHDFNTPLVTJSYPJW\XPUX_a\WS\cXZ][[WUMRJUcfa^][MGIPS\U^^GUXVEIIbd^SVQNTb]VWTW]YX`bbYTRT^__ab^_]WYW\^^UUWQWZVQYZVPTVV^fgibUTVXWYV\YY[^__]b^\YVZdZXUQNPURRRVUW`\UXZSXYTQQOQ[bd_SPONNQKHTPLLONMILPVUPY[ZXVVY\ZVRUY]XRTVUQXVSNKMSVWW_ca\WQQPMMP[VRJGDILVWWWWTROTRJGOZ`_ROQOTWVUVXZVTSXXXYWROOSUSSWTTQQWUTVTRUVY[WWZXSQTTWQXNUZZZUXVUWVWX[]\ZZUXXVVWTZZVUUZ[UWVTUYWYURPTVVSSLUVZVRQVTVTUUQNOTUXSVYWSTVSURRVUTYZVRPVXVTXVRW[Y[ZWXYWUXXVWTXW``[^a]XSUVTMAIQPLQVYUSUUQOQPUUYVQHHBLVXX]Y\[XQHIRSQQMELSPILSUVWTSTWY^_[SQMLOUUV\UJIMKMJOORTTQRQMJOONHIJJKNSPSRPLISVYYWVRQQNHKGCFHHMSUY[UQNIGHEKTSSQOONQX]__^ZQEOTURMKLRVUNHNTRTWTWXRHGGOTVZWUPMMPUSLJKORVTTUKKQYTLIJJFDFCGHFJNRNLJLJGKJJLTQLBAGNNKMUVUPPMOUWRQSRRSQOLKIMKMLRVSHLOILSQLFHOXZRKJKRUVOHLKMNHNTQPUTXVPJKMMPVVUNILRRVUTTWSTUQUVZYVOLSUSSRQSUVLIPUQMLMLLHJILRTVQDEQRQUYTVUTQRXPOMDJUZXXZSNSTTXTX^[VUVU]\XWVTPLNROLILQRTQWTUVQLLUXSJFA?FJMRPJNRRPPZ[SPKKROKUVUUTNLMLNHHZ][XSQW]SKMSXSJNZ[Y\RIKMOTVYVUYUQ[aifaYUSPKRTSPSSVMIJOVRMJKNSQPOQSOMWWWQDDEDAFPURNJQTPKNUSPOQHDFOW\ZQMSOKKMI:BNYVKNTP9RUYPK=ALHIOLUZVWVYY^^\UTUOIJMZ_a[VY[egbZ\Ydje[[\ZSURNDBL[YNPNSSOTZZYURLMYa`WUSV]ZTQUSNPPMMRPNPX_\ZZ^_ZWYZRMPJKJPSPFAHHKRZ[QNPOOPUUUPLQW[[VUTOKEHLNUUNFMMKR[YTRMPZbca]XSPWYYWQTXXRRMMQQQPUVRGDIQSQPQNHDHOTTSLMQSONVWWRLJKPMSVSJL\gqspdZT\gjg_YXTQTWZYVVXSTQQW]YQOONMPQELPOPUYUTUQMOOMJSY[WROJFFIKPS[WQTWSSPJIKUQRWZTNOIRbc^[^QMRQTSMOWYQUQIFQRJPXSGEMcdaaja/&a_NVKWX^ea^YV[_[UUVOJUQUXWXMZab]YUYWYXVWVY\ZW[[YXUYW\gjihbZU\YYUUTWZVPQQV[[][ZcMNONLHHNMLOQRXYVW[XVYZXWWSVZ]ZUSUPNJFKQRLOQTQQLMSXUTVRSUVWY[ZYXY[ZVSVWWX\VUTQKNVT\ab]UQORSTY]]WSMIKOT\YSOPNNRSMIMVWWPTUSVQKMWUZXWXSWWWRMPQVVSTVWNLUTWQLWOWVTTSVXWUKRSSOQUWWUTXVVUVTVYYXWVVYZYZVTXVVWXWUWPPYQSUYXVVWUXUUXSVVURUUYYUUUVRRTTTZ[YXXXTXXVXVVXY[WSQTXUWWUVVZ\]VY]ZXUVUTWTTUWXWUUXYTXUSMMQOQUYZZTLRQQY[ZQSSTPQSFBMRRTPMQPIHIOVOKLOORTNSUYXVQILPUXURSRPJKPNNVXSOMOKHNQOKFIHFJSURJHHMLLSTWWVSQMMRVXTOPNMMJJG>EJACKUUMDFQORONHPSLGECOVTQU[a_SGLOLGAKOLMONNMOOMOMRTOLONMRY\\ZRMNPQMJMOMTSOLINX\]YOPLEHRQJDGNMNJHFKTSMJRWYXPGDEFRXVXXXTPOPLKORRTTPNQPMPRQTXRNXYVTVTPSSLHEJZ]YQPSNPVUSTSPPIKQKKKJNTNEMPKHLPRPLNSWYYURPTXTKKRV[[]\YXTRQRPRPSRSSSLKMJJHPVUT\XPIFGHMQTWWXXRRUTTUNCJRSTRSRNPINWUSWTRNGPZVNSUTVQQSJFNMP\ab]XPLVXOOVSLPH;CNOOLQVVTQJGORWXUXQOTVUYVQOQRULPX]XOJINMNIIMRTOU\^]]XX\WUPPORRUUV\efd^_YYXSTZYWTNMQNRW\XPFNQPSSMLQQQW[[UMKNFDJQRVVSNPSNEGIOSYTMGPXTSLLMKFDJKKNLRZMESW/EETSHAGCLTNJLJWd\VSZ\XZ\XVRPR`jgedgjigb`\bgaWTSRSPSSRNSTVQORSVUQPPNVWROSYWQVXYURLLNWY[ZTNRRGPY\\WVWTSPVYTTVVSU[a^ZPOXZVURMOVWZVUQNSRMNX][XYWRRWYSQKGJQTS[^VQOTQNVZ\\[RLSWQLMV_[SJIHMNNMOQMLKMNORSQOHJQSVUQMMRVQKPXYVOMFIKMURGKSeousjZY]^cd^]_[UV[XTNKOUXXRVYXXTRMNSURIEJUZ][VTOFJROJOTY\ZUTPPTSKTW^[]\YRPNJJSLCNTUZ_]XSXQRZTAIMTWQMTaUAEHMLH5DSURQKS]\cf`MQP_UWUZYRWS__\RTSWRVTOX[WU]TLW[]YUTVTWKKT[^a_Z\]TTXZWYW]\`fcYVVXXVXVUWUXWSVTTU\acNLOM@CMUMKPNKJKRQSXYYWSTPJRY]YPKKSXPPRMLRYZXULKUYXUOTUVOQSTVQSZZWSQPTWY_^a_ZQORTTZYXRSMJTTSXY\[WURNLTZZRQRQOLFMSWYYXXUWTPKMRT[XXXSTWWTWRXKOMLUSQQQSQPMQWVWVTVWRTLJPQVUTUURTUWUVYYVXUXZ[WYXVWWYWQPNSTWUTOXNVYXVPQVXYWUTVRQWXXYZ[UQRJTQOWYXX\ZWUVWUXTVUWTV[YNSYWUOVXVTUZWTW\VTSTWVYXNNWWXUSX\ZTVRJQSLNSVV^YTQKMX\UKFNLHU[][ZRQSSTVQPKLPURUQIHUVXURWXSPRWZ\][[VOLNGFNRWYZUNNONVWQOOKB@AKOINSOKHJMKNVWUTROSUYUPRVOPURMKSULFEJRTPNTWYXQRSQLMPRUXVQMNSZZ\\ZYRKLMQPOTSRTSRGMLONKMQOORYX[ZVQMJDHQUWVQQRTV^b]VNTQJKSSURUXSLDDLRPMECPZXRKKMLRVSY]XSOORRPRPUWWXQGJMRSPRW[QDHNMLRQLGDMTMIQ\[UVRQRWXWTOSXWOLIMIELTKHSURLONMLOZ_^YSQRQSNMCELMTX[\[[VQKINSTU`gdZMHMKIJSYQKUWSTWTKRUSRQMBFKFGLOLINLKNRPOUUMEW[UMMEJHPXYSNPOLPSTOLOLJRbecXLJZ[PMWVPQKACQRLFGTXVVVRKLTTVWWRPPTTTSUXRPKNSRRQQOJKJLRRW[UR]a\WX]`]YSPOLOQUUQSWTSZ[VUNMQUSRQLHKKRYZUSTQRWUMJNIMSVXSFBFIFDINOQGBHRSJ@>ARW[KFTiojcVPJA7BNVQJJP?GWd`DCFMOMGKOVULNPQWQDGXXRX[WY]VUerysodbced`bee\RQLPVZWVUUTSORVTPOUPQQOUWQJNSUUUUWSKLLHGOX[ZWVRQQWXVTPPTTRSXW]XTTRWZZZUR]]VRNOLMSRQROLRTMEMUUSQNKPTUQQRJNRUV][UNMPOJKV[WTMGPSNDGRUSSQLFGVY[YWVQKDADIROQOSW\VUKHHIJGGNONMVTPKLKKIKKJ\ouyrfYX[]][\_XQWUSNNKQRQQSSSUYVPMRW__UKHMSVUVSMHPUTPJLQW\ZUVVZXPRXXV[XSRQPNOTSPSV[]`]XUQLPdc\S>DPB8KYZKPVGHWTOFX`c]ROL==AHOQLILTVVOPOUUUUOKLORQKFPSRTSKHHRYVPW]ZRKNNQROVWXVVWYVURMMMNQTTKJURDDJQORXad]TLPSQMSVRNQRZ`_ZTY]^YTMJRTMOKMMNQQIRVTQRVTOSZXRQSUPDOUSQRKEJPPILNNJQV[\XJDPQNUZXNMKKLNQUSOPXTIONMOWXUUSNIJQQHGPTVQSWXSSV[^[XOOULNYYQU[TRUTUZYVVULNRTQNOUYYXWQLHFKRQQRRQQJGRY[YRQVWSKHICSWSPKKNLKNLGJON?CJRSOJ?AEPQNIFdsreYPRI?EQZ_[YSSVWZXTPY^_^`\_^\WVV[\]]YU^`ZXTOPMJINRPIQWTKHEJNUXUWZZUV]TLIJNOSTXXSROTY\[WSPSQHHJPPLNRQJPZ]ZTVWSECIKQKMNUX][VRNMMMMORONGEONDGMNMQQMBG[jnoke][XTSYZYXXPLOSWWTOPOOLMU]YZWTXYSOTVSNMTTSRVVXYRJOU\^YSPT\ZY_[OQVWYTUPPNZb^X^```_\QDNdldaZILQUXSC&MZXKU`[TR]]`^J=DQ[SRLRiSRQWWXQUSWPVZdb]U_[]^\WNUkc^dggcbWYZXZXXXRWVZYY]TV\[YSWUWRUX^\XWOSUYUXWW[YUZYV[SVWNPTPMLJHHMVYXTURRMPMMOWa_[VXVPNPXXPKS[[XTQOUWVSLJTYVVSSU[\VMQWWRTUSVZZSPWZ[_^abda_VTOQKIUWQQTY_[UURQNTPLPOLMRSPSPSWY\XUZWPTNTVTSVVUXWUVUZVTVXYXTUVVX^WWMLQVTUROWQXSNLSUVXTTVTUTXVY\ZVUZZXWWNTTUXSTSVXXTSRUWXUZYPLQVVQQSQSX]^][VUMJKOTUTTVPJUYPRPPVUVXTWUUZVVTQORVUVRS[ca\TWXUSMMMMMOTSTUZ[RRPQQLR[YVXUPOMMLMJILNSSUUTUWTX^`]UVX\ZROOJFMUVSNZd_[UTWZWSTPMGMOTRRPRUVQTRPNPPNQMIKHQUUSSPMNUWURVWZWRKQSPLMNQY[ZRNNRQJFJNMLPRTXYUSQRRSUNIMUVW[VRUQKMKHQYZXZWNJTYXLQYUS^XUMNNPTPPNRVQOSVRMLMJQQRQTSSPLORWVPLLPY\YTMKLOUXSRNLKOSSUUTWSUMPROMILOMGJNRSRTRTSRPOW[ZWQGDDILPQLJOSX]_ZSLLLE>AHOSVRJHQVXTMLKMNOQ\`\VSW[UNOOTUUJONUUTSKKSXZSMKJNICQNNORVWYVOMMMPSUWXVTWZWNMS`_XIJTYVRSYUSLKSUTWUQOPQMNNIINSQF@ISRTUMDIJJNOKOSRSQWVEKKLQWXTPQQIHDGOSRMRRSUPLLRTSTVXWQSQJLRROSX]\[]_`_`^WOHBJ]ZOMJPTVNP]ZTWYWOTTRNRV[[YQHGFJNPPJEFPRIIOSY]UPSQIDKFERYSRMLNLHSSNGQPKJKJFFEFHKFEJI@D_hbPNQSJSQRONRWB8RVM7CHOTUEJPQMDHLGFEILMLTQNPRWWLGHdhqocRSSPPV\b`b_WTXXX\[XSMOU\VLT\[[aZXRLAJRYXPNVTQIG?=INVWXTRRXXZYXX_`YZ\XWSVYYZ]`\[USY]WTOLTSPNTWOHJYYQRJENTTVUTPONTYUVUSOPWZZVWUTX[[XWVUQMNMN\[Y^XTLPUOLORMKORUQLJQSSUQONPONLMQNJLMLUTOQMGHJJCCFMQY_ikjd_YTVZ`a`\XZ[Z\ZVSNPUTYbc_[UURNPVYTGMRWZWRPS[]SSORVUURTZYUXVPVX][YRTKKY^\HOW\]\]`^ZSVWUXNR`daQ?*7VNJIFTRU^\WSQ:Raa\UK.ZiaWITSSWVWVSS\b`]WXUQVQU`mjXafad_YQVXUW\[]^a]Zaeb\_WXZ`\YSUQXYUVURYYWUZ^ded_ZY^NPRONRNIKJKMOU\]USW\ZTMDENQTPQTWSOOTOHNW^\WRSQKLGEEEPROSXURRTSOVXUQTVRU[]YQPRWZ]XWXZ^_SOTWPSSMHQYYWQPPOXZTLPRPQTTTUY\VWTWXTPQSTVOMVOUJMQTWTVPNVUMRPUXUUQMPNUSRTTNLMPTUUVUYWSUQNRVYWYX__]W\[UWWWVXTUYVOONNLXSXYZXUQQTUYSWWRRWXWZ[YWNKMTXUROVVXUPJKKKQQUUVVW\ZWOORTUVTTVU\gf\YYY[UQSLTRJROUW[][TVQQSWZUTVQLORSWXUKP[^]\]ZYTNT__YWUTWWNOPJOSWVQRZ`]XRKLOWXWMSZVVX[URRTPPPHDACDKLIJOPNOOTSSTMQTSPSX\YWSWYTRSTSTVWOSTURSKDFLKFHKQPSRWXQSYYWVYVWUOMJOSOGCPXVV\^XSZ^XOJPTRQ`ZVTTURQWYWOPSUUYWRNPVWROKMPRRPSXWLOPWZ_\XTLOUUSOKGDFOQTUTSSRKENRRLHPROJKKSVTRXYVRJFNY[YSOKLMKKNRRSQUZ_YXOGC?EJGNUXWUQOTQLKMFBHNW_ZVUS[XOKLPVXVNQYWSRNJFJSWWUSPOOON[XSTYVVWSPONLPSLHONORTSKGNW[SMIJTTTKR]VNJOOQRUXYYYWQQPNRXVPMSYWTNMNTUWVSPPPPTWWTPUUQY\XNXa`XMG?KOKGNNLOJLNIHINTTXWVRMLMELSZ\\_]`ZX[ZWQQEKRSOLMLWUTX]]XX]]WJRUPKDGUZZXWUKJDFKKJJLIMOITYYRPLF?HIENURUQLQVROVWPPQOMNOME?GLQG?MRMHNYXURVSQSUPOXXUQV][QJNLXZV[XJQNEHA?FQWUTUOEACNXXSUfnok`YZVKPWY`gf]V][NS\^YYYZYZQHS[_add]WMFQRLIEKWWMEC=aOPbbTSOSU^_XXUQSVNXZYbe_Xhh_UXX\ZXXWab[be_YUWVYUVY`d_[WUYUQTUVXYWUWV]aea^Y]\VNIQ[]ZOOOLRVUVROOY]ZTPRXWLKOSSWUIGIGDLSRVXYVVRKG?CJTYZ]_^VRQEGUXUZ^`]\^[TTUQSXXWW\^_[TRY\NHQRSVXSPVUTRUTNLTTSWZWZZ\YTNTTS[WVVWOPTRNRRTVWUVVTXXWPJOWVZTOJRUTTTRWRSRTVTURSY][XVKKSUWQQWXZWYUTQX]ZTSQWXVSXVQNRUXYZUQOXW[WXXXW]][YXVUVROPVXRLQYYWTTORQUVUXYU_ef_WWYVXXWXVWU]_\[UZ[XSWUONVSQPUVWYTTSLOYVLOVYVOTY\[VMIZ\WWYTRSPT[[WXRNSVQRUTQTXTSQWVQV[WLJRWPHYaaYXXXTTPQSLCAGKFCBEHOPRNPUUWVPHCGNKNT[\X[XUPQOTTX[\ZTPLQPLIDEIJKMMLQTTORWWUSWX[YSTSOIGDHMLIMTZZ[`[PMKSYZUTUPLRTVVUZ\WKLQSUX]\\YWRMRTTQNPTVWWVRLMXVUVROMNMJCGILLPPOKLPQPRSU^[SNJKGFFRY]WOVXRQPJQSTAENRNNNNLJQURKOPQKGEHKPRSRSWVXUOGB@JOH@LTWWVVWZXZUWQLUYTQVWWTVTQHA9DPSQQWVXYYVZ\RMOPKGJRSPJKRPLMPRSMPUTWSQMHPTPNUYTRPPQVUQTUVPGHMKFNUVQQXWSLDNVUSVXYSJNY_[QOSRW]aYUaln`PIKPUOMRQHDBKNLPY[[SUYTLIPKCHV\acdd][ZXWXXTOGKOOMKTXYPS[^\YZ^`^\]YXPMV_edb_PLUWWTMOLMRTMKNUSOSRNMMCJQRPSTTZUKRZ\YVQKTTVKJLNMJLTYVROQV]ZLPMSW[WKMVZ^c`UQH:0FKNVR_[ONJCKNKIMTGEJDIUWS[dhgdZSWTCBKPUZb[UZVMT]`_[]_ZYRGROP[_b`YTMNKDGKKPOID=9AOPLQTSQNL?HOPW^\Y[\XW[_YOKQVXUSRYZTROKHFDEFJNOKCLWXQOPOLPXZ\VVREFQSSRLNPOSY[TU[^\SQRNKRRMQSMQTTOUYWYVPOVTTLJMHHOQOONNKGKTUSMNPNKHCHOWTSSSQSOOPX_`[WZbgc`a_TMGIV__[ZWSTWUTQVWXSSTTRW[ZX]WIQ\XUTX]VSWVSVYWPLVZRDINOJIGDFJSUNPZ[WNGKUVQLSXYUMN^ca\NNQTO\][LHIKAQUQRXUjqh@9&IIJ`OTO\[XMJU`edX]ZVZ[SWX\XLMM\`TTTW_^\]Y_`ZZ][VQVUTVVZZ[^_^WPLMOSSSWWURSYUWUY[[YTUQU[]YOMUTNUWZRQQ[`ZW[XURLKNQRUPFMTQGDIGOXZZYUUSNHGOYZVUTVWYVMNTRTYWQQYUOSUTQ\_ZV[acaWPWYRR[VUZZPMPRTUTVTNMKKOMIMXVXWYTSWNT\ZXZYXZVUQVTTQPTWUUUSVQRUUSVURNXRWPSWVTQSWUTVVTUZXVQSRZ[YUYWYUVYXXY[ZVKQTUOPVXSRVXXXVUSLPVVROSW[^ZVTVUNMRPONNRRSRVTXOWXURSSQUQT__[TQVLRXac`WUTUURTUXWWXTVSTTTSSRRTPTUSVYZSNW__TU[][VKESUKKQOEEIMNRPLEGRXQOSTVWUULEJPKX`^WNOQJJSWWSSRJLMLSTK@JRRLFFID>DLRTNHHNRRSSTQMOTYXXVYZUOJNOWUSUTUTORQK@BIIJNRTW[YTYUMHFMVWWUSLA>?JRQPTOKMOW[ZZWSUUTNTJOWYSQROGFJRURQPUV[XSS[^[VMHMPPNTQNSWXWXWVPQJFIOSUQLILHJLPX]Z^``TKHIMNTUXVVSOLMNQRRSSPLQTSRSPKJPWWSSUWVSOKHKLLSRMPPTRMJQLKHGRYXRLNUQXX[[UONQQPVNIRYYVRTPLPNEP[ZVQNNZZTPTVTRUX[TMOSLIMPQSPUVVQPOQIRZ\WNQQSPRMOQMJLPOGGOONFJQGIOQUOIIQLJTZVNLOPRMDHKKLW[XVX_a[N@KVZ\WTJKHJNQOQRWXUQOMNNRMEIMW[_efca_ZZ[VWMFMQPKST[WLPZ[][VZb`ZSNRKIV^cdc`XMUZ\XSQPPQZYUPQRSWX\WROJJKQXYSQSTW\[[WOLLQQPRQHJNQRSNNQMSVXROORY^VFO[[YYaWFG?6HNGKHXbfYRXTRTRCGK?BOQJJNLRZba[SOUWOEJJGRTRUYXHET``]\`ca\VVSNLUVTQJGNNLSUUUWXTKDMQPOLEABHMMLPOOSYWTVYRSVVWVPRUXUQTSUYYVSRPMIKLKJGJOPOHNMMOMUVUVTIMUY[[TNRQU^_ZTU]]ZQQQTXULPPONPOOUWSQRMUWVPJDOPIPVTRSVPLT\\VQMIDC@BFQUM?DINLKPTSWYWWSV\\agheZNBMZ\TWYWSWURLLUZZ^\TSW\[^c\MNQLHLV\YTSSX[\ZQPTVSRQRLLQSOKJKHMSXULOXY^_MJQTVRSYRE>KX\YZbjmaOQH:CC>ISSWdmeKTUjgZWW9PQSUekcZTZe`]RWYZ[YZSUPV]XOSSXZY\`ZZ_^^\[VVWVTX_[YV]\]_ZUUURURRQTPVPSTUYW\]_`bSUUQPNOQTOMQUURXXYSLQPKQPFCKTYWPLOSUPOISTRSPNPWUNOQYYOILSU[YYUUTOPNEJNRRSSPW]_SS\\]__ZRQPNTUQTSMIJS[`]USUSPOVSPKAMVZYTIOUUWUUTSSTNOVYRSQSYUUUWRVUXSOQWTSQSVPOPUWORUTTWXXVWWUTRU]]UWWTWTYWYVXUTTRRSUPRYYTSUTXWVYTOWKNLLQTY]URUXWPMUVONPQWURSVXPWWTTXKWVWSUXZ\UWOVXadbZTTSQOQWY\]YYVVYVQKTXWVWZWXWTXYXS\TRZ\YVURHMPJHQRKJLPLLIIKISYWOFJROT[]VSPJOYZTNKPUXRPPMSRSRNIKJGLRRPL?GMLFGJTYSMNNLTUQNSXYWORVVZ_[YUUXSKENUYUMJPKIKJRVSSSSZXY][ZWVTOOTUTIHJIMSWVPMHINSVZ\[URUUX^ZPVSOJNQOEDQSQLOQTWZWSWXYVUMEGIGMLPSSOSWYZZ\WLMLMKNOLICEJSZ_XRVSPJFMQPOQOPSUIHPRMPOLSTPOOQSRMHPRUZVLQYYWWRMMMLLNRQORRPRUOPLLU\ZUIILJPSVWVQNIJLOHCRZ]XXYXTYTOPXUPLLLOQRSTTWOIHPVQJHHJNTXSONNOKGIQUSW[VTPTSW[WRKONMNPQLJUWTPPLHHNOMGBCGHGRZTMQWUNNTWWSJKRRMPOPXXG@LVWYVSSXYWRXUVVNNPNKIKNJHSXXWY_c`]ZX\YSIIGJTQLOTZ[TORWWYY]_]RJGIMSU_cc`\RMIPRRTVXQNOOOOMPQSYZVJKHGMPROONQPTXY[WSTSNLQTPACOVTSNMJ=4?PURHPU]UGJUX_fedPNMIIIIDAa[XTUSP]]UJC@JLTUROQVhig`SW\XSPPW[\`[V]a]QU_b^[`fc`[]b^XFDKPPSSRRV]YOOQQJJMLHNRHFMNUSKJEGSZZTUZXPHIUYWZ[_\VSSSTX[\ZXSROMRIJNRSMEJMSWOPSRUWSTVU\^VTWYVRTNFFKPPPVRW[WPPY]YQJLTURRQUTRRULFKOLQTQRWUMIOY[]XUPJBADIQTMDDAMNQZc`YZVVRTTOW[ekcTJJRQOT^^[TRVRPQQVa`UUY\UMQRPQWX^[]^[QPNV\XQSPTTTSQLJISXVUUMLNKTQLFKQVOPZdVJ[]`ULY^_a[[`ea^OUQFWZKBGCT_mjYNdwvjXSKPOTbdaXZafcRQSaeh]UXVV]igZTT]eaZTWVUchd]^`e_Z^[XW[^][ZWRTTQOYYYQRXTVWXYVUZZ[ZPPRUROOPQOOVWVVZWLHNPNUQPJIRXYSHANZ]VQQTSRLKMRTPOSUUQRUSWUQORVXUTPJHEIQTRLNZYTZ^YV[[XSQNFBNZYSJOTX``]ZTSVY[XULNPSWVTVNLUTZXVSSLMMWY[UTRUWSMPSTTTQPWQUTUTRTWUXVTTQRSTTWYXWVYUUSaf^WVRVYVKSUTMNPYNTTWRUYVXSUXXXYUTRMLXXSUWYXKNPWTOSVLRWTVRQSVXQSVVVRPUVUWPPU\XRPPPRRT[]^]WVVWU[\^aaYTRTSWTWVY`]XXXY[UQOJLX[\WLMLNLEFQQPQUSONJJMTWWURKIONPW[]ZUXX[WQNPLPUUPRLNSTWUOMHHLQQWYSMPTSTSTWTOTROQQJHPWXURPRPWWTVXZa]M=>JRSMLQNNNKOVQMNOQTWSPUXZVTQUWUNLMMGJUVLIKPYYRQLIIOW\[_`Y[SHLNTVQLQVKLRSWVTRNNSVSLHEEGKOXWPKMQXZWVYYVTPINNNKDDNQVZWXOLFILKRWUMMOPLKJOVVSOLRXXSNJJOKEFKMPRSNOUUNQSPNPRQIKNLNNPWWRQOJQTLBCJKKQXYTQTRKBDKLPTSQOPVTLOTVWTRSRRRVURUW]YUHGKLF>@FIKLOLKH@DDDKORSUXUQNMLX^_YSMGLPUQHGNONJPQSPUUNPQMKFDNWTNNSROQVURKGKVWULIQ\[N?HPQOJCJSXWRU][TKOKKFA@CFFMTTWZ^`[URWVVODMQKMONQWYYTRRMNT]]YTMSQSS[\]]a^RTYWVTRUXTUPJKPSOLJNNRMMPNMQRSQTZYT[]XUMFMNQPOTPKGMY[VSQVO>:QXUL>IRTKIRQ]dediQLRTMHDRXOEGQJ@OULAAFJLHTZVXYbf^URVWWUXUS]b`TPYfe\X\^^UUXZNGW]aUIAKNORPKLZ`\PLQNJGBAGNQOILTNICGMMSZZRQUUUQQPUWXWVUTMJORTYZXRPWZZYTNWTRJJOQRWSQTVURTVQHNRPTYYYSLNMKJKRX[WQTSNVZZUG=PYYRJHNPEIPJMSQNPTKOSURTSQRXXQMNILGBNQMKJGKML[efbWPJKLLNNMV`^YYRPORUU[[VWUMHORTSTQRYQVRLNPTX^`[Z\YQILY_]SEEOOMQRNJBIPWYTTUVPSXQKGIMAHcifTV[TPGSVYXST[TV\YWPQ]\KINRQILOY[VX\XWSUWMLUUZVQLLRUX[UVXYPJKT[[YSQMKRSMNRUVPRQQOSSLMSVPROKORRXmxvhVRUSNNNLV^__ZX]c_Z\]XXWSWYZWTQVWVWWZYWWXY^ZVXY_`a\VMQZXSNMQYYZX]ZXRSXRSZ^YVUUK>IMJKV]XAD>LYZLQZ[VFVYGEKQ\aUEHTSUL9HVUVaa_QMRVSPGK]iljc`X`MRVWnr]WXUY`c\[VX`d\SU^^___ca[SMYU]cga_\bjf^X^XRY]XTMRXVV[ZXRWUTXZ[ZV^_[\`cbKMJOVZREPXVS[]ZQDMOOPHLPPLGLLNPTRPOUX]]_]TJJPUWRPNJHNVZ\[VQOTYZWSOMNLOMIHGQXYVTTQRUZ`ee\MEDHRTTSUVSSNPVWRUWRJFN^\WQOPMLTWWTW[VVSVSXXYX]_`YQLLSSTXTXRWVRNOUWNWILUTVWSNVUUQTRUVWSSRWWUVVXVWTVSRWXUXUPOWZ]]YWTUW\YWQTTTUXafeXMKSSSVXVTWPSRVVVRWZYX[_\YVXVUSTTTSTUUROORPLJNUU[``ed_WVWTUQLTWVXYYX[VRXab]``TPZZYUJLWZSLJOQVTVYSRUVXYUOMNSY[YZVOMMKMRWTNKTVWWTVWMJQTPNKJHISUSPKILJABGKOTRQPOURIKQVTOMNOQSRSRPQRUWWRQPRSSWUO@HLPPPLJQWXZ\YUMNQROJPPLNRTNNRUSSWQPOOSOJTYX[^VRSWSMOTTPTTMBQ\\XUW]YUOTTQMNMMMLNLLRX[YUUX[ZRFLXTF?UXPMOOTUMDMSRNLKOQT[a\TOLKNY]\[\WNKIJJRWXFBNLIKOTWSFLV\dd_PKQTY[VRNJKLJKNPMY``\[[^[WTTYflc[XVVRT\a^\XTSSVXVVXUPVXOMONQXXTOMLIHIOQLJW^XMEBHLMIIPSFCLSPSSQKB?FLH@BKIILOUVXXTTRJB=CIHNVVVRUTRIKNJLMHMU\WQLLLJC>@JQWXTQPHFGQZ]WKMPQNIOSXac`NPTQT[_[VW[\VRNMKOVWTSOOYVVZZTTUVZ\XUTUVSRWYVPRSOHQSTTUWSLRTQKORSPLNKEGLGIRVVWXRILQOMILKJLSUNOPOIHMLMI?@KPMGJELFHKPRMP`w„ƒtTVYZYXPIJTNSVPKLNPTUZYVSWYZVMPLKKLMRSTKFCAFFPPSU[]`^`b`WTY]^[UUXWSTXYXUWSSVSNHGOUUNFELMORLIMW[ZU\[ZYTOMPTUUWIDJLS_kg\LOPSPPRSSZ`^YV^_\RY^^]ZVWZXVPQSMAHPTVVXVTRUYYTN[`]VSTSQOOSUUVYWV^_YKGDISUXWUUTMOTKOSWQBROQZUFHPVTOWVTOKDNOLHGRWXPGMQRQPJDEOVTVRQLA?ENQVZURILNPV^]UMLSOILQVZae`TUYVQXZ[VX[WSTSRNMOOPTU[a[UVVSTUV_`^[XVTKNTWXY[XLHOPVZZ[VXZ\WRQRQQPONNPI@GMTSW[XTRUOGDLNLMIDBFKJLPYX[WQCCBBJNPRRCP[XQGHXt‹€yZSZ[\XE49LULFSTSRTKLSX\`\a_VUV\ae^SKSYYQDIHTZ][TQIMMFFV^d`[XYXRWWRNTSSWXTKIMQQPSVXTSQRQPRTRMGOUVZdaTPONNQRQHGKOTUOCCMSQPNMHFOSWUSPOUWVUTWRPOKIJIGINRPMPPP[_^Z[\bf`VVYY^VQMJPYZ[UWUTYYTPRKEOQKBHRQTYULSZ\UOSVURSVUPNOPRNJFGJP_b]SMLNPPVSRUXXRJMUWTUZZ]XQQRPMOY[TJIGFIU\_ZPRWZXJLUXWX[^]ZVQRU[`]YZ_[RKKKOVXX[_`[VUYWUOICTVTQGB6JXWSPVQSNLGFQWXSMS^aXRM@9IHH>9KT]V_M66B`_]dUSXTUKS\Z]a[W[ZWZ\VN]YQRQR]\VW_XTX^^W]`]XXXWVWUW__]YUVW^b_[WTXZ[UTPXWUWYZbhjLORUVTUNDKTXQRIKMXYVOUXRNVWYYWNMPNIJUYPNNOPMIJQVTOHQT[\VORXZTSV]YUQQLLSYVSSWWY[]a^Z]a\TFLMNVXWSWY\XPHFQVUOPUSLGILSOMPOONTUY\TTSSZYYUWVZ\TTUVPSXURLVUTLKSWUUPOTVZYTWUSVXYWKV[ZXVVRZXXXY_^YVUTVYZYUW[ZVUXVYXTRWWXWUUXVY^msl_Y[YWTMTWTVTOQRSWTZ[ZVVTTVTTSQQX[]WVURLMTWVSNPW\as‚‚uaZY[WUXVMTRUSVTTVRVUXZW^`^XZYUTVTLQNLRZ_]SKPRTTOGCV]WNMV]YVNMQSWY\XVWWWQRY`WRQOOOHKPPQ[ZWRQMNQSVWXTYZ[TLNNMPSLEFIQTSRW[URTWUNWZ[VSMOW]VSSVVUPMPPQVXQLOPRJBBB@>BHLVWRUVOKLQTQPROMJNOPNKRWYX[[VONOOPTUW]aa`ZVROMPNSXYVQJMNQUWUONNOSUTW\[UNPONRPPRQRUZWPQHENUXTPQUSRNPORMMRTOKOQPTTXWRQOLPUTKKJOV`efbZUTOSTSVWSQRNPLOOMRKILKGOPPPXVXY\a^XRIJQSVVUVZVNMROMMRRRX\\QGUOOQSTUOILRZVOOOHGONNRTTOONONOOUNM[]WDCQODLPIDGBMNLPROHABJMJFEIRSRIJNKJNLKEOV[]VSOIABNQTNNLFJPPQ[\YSORPLNQW]bf^SRTV]`abXQQOPRJJKINQWXY^bWSWVVSSSSWWX\ZRLW`\UPSSSXVPOSUX]`^VRWSTUQOQKPXSMKHNQNOQSWWSNHNRONSONLKHIRZW\^[NEGAORPUZTV`ZL;;N`‡’‚t`^]\[cYMASL:GOIPXZWOMSU\Z\ZSPXdhaUPSNVGEHMUWVUSMNUZTSYad^WUVVY[ZTMNRSUVRFIKNOROJMSPONNNLSMCHQXWY]_YVWWXTSTLMMQRYYWSNTNJHKMTVUSQPQFGQRMNOW[TMEEBCEIMIIKNKNURJIPY``XXSKMONMKKOPOPWXWZVLEGMNMPMQSULIOQNPYYXVUVRNKNMLMJLOLKNPQTY^WMNPVSTQOLMTVSTPPRSUW[YZX^`XRPRTRRUUONNSWYXMJQOKNXZ[YVY[^YQLDIRTUV\ZXUOJKWXSV^c`_YWTEAHV][XTO?COLNHDLRSUW`_ZWSRWXOTP.*9EURRQHLLNSJB9J`ce]Y[TIJXTYa]TY\c\_^TXZYTVXQUWUYgV]b]^inebdgdWVXZXUW_fg_TUSX]^ZZ^`_XXVQMWUUYYVYVba>FSWXROKNRMEBGIMORZXUQOLPNMIQWTRQFGPWVOMMDMQTVVSQNQMKRYTORWZSQ\a\SRRSX]XVUZ\ZSWVX[VXYXWUVQLPSOKUVVTPNKOUUPXXRHJKOLNOLPLSQYZXUUVV[WVSU\\YVVUTUWVKJTUUTPUXYXVNLMTRWWWQUTXTRTXVWWUVUWUWVZa[XTXZWYZXXZYTVXXVXURTVTNQVVWUXcf_WVXZTVSVVMRTQPSVWVWSSVURRY^ZTWXUYTVUSTRMRVTTVOX\^itvia__\VRUVUXVRVVUUUQPWTWSWZZX]]YQTTTVUV_ee]QDJQSVXUOX]WIFRWYUOQVWUUTQMLPQOLOPQSSQTURMMLLTUNNRSSSTURPOSXWVTUQIMRXWOILKLU\\VTWVQTUSW^_[USOVOMLQKNPRRQQQMW\ZXPKQRPKMXZVTSSRPJLNQPOGJIMOUROFJPQXWVbZTQPORMSY^][OMOMQTVVVZZXQQMLQUWYQNMNSWX[[TOVVMRVWYVUUWTNH@ESSQNNTXWPJ=GMOSTUXZXTUQLMOPPRRTWMEFJNS[cf_XWWVUULHMSWZZYJGJPTQDHNSQNFITVXTVONRWWTMNTTPNRZWQKJHOSUYUYVNDID@EQYZRIGLLNUYVPLQPONMKEJLSURSVSJLNRRRRMCOYUNJMROLNRROLFHJJIFHHKMIGMMPUQLNU[^\WLJH@@GSZWNKOWXTUTQTXXWWXSOMP\eb]\Y[\bdaTJJMLMKD@BKVTNR]]URWXXYQQOSY[WXOHS]]VLJEK[`[WVXWY]XHOZZUVRTWUUXRHNOQSQFMTRRWQLVXRRWXXWUONUVPPVZRIOLLNPY_X@MTWXPQWarfcNHHJM]]\[^VMQR==?KOMFPMTTZc`[OR`g`USRHB=;AHORQNIFOVUQRWVVXXXURXXUPLNOTQOONMPQPLGKLMKNLLNTTSGFGGHDQ[_]XTUVRQQKNONQYYXVWRHJLPNOKOTY]TNXXRNQUVTQPOQJ??ICDKOIDKVSCKOJLOOPOW`c[YYWSHHBHKOW_^\XSUTV[]]]abYTQMMSUUVW[[UPW]WJNNGOY]YVSONSPMORWYZ\YWWQIJFQ\[UNY^bb[POKWYZ^ab\WYPPFMONTX[WP\^_YVV``SML@JIEKPO[[_]c[PHBRjtcJ`V..OMTPZZUJSbeaXXRPKSUVX[a[`gfeebWVilgbab]YW`_\Y[`a_WSNSW_ZXZ]b\XXWKOUUORVSUX[]]MRTSMIJRSNIIFKPMSXSNLMT]VNKNRWYUOKKNNKHJJLPVVMNWZYTMNSTW\^[ROPRFBQY]`YRTW]_ZRQMTXVVUVWZTMEGMMRNNRSPJLZ^\STUPHGKRSSRMILSTZSURWXYXUUTPW]^XWVTOWUTNVTVPSSUWUUQSMNPOTRVUUXTRSVUQTTWWRTVSVX]YW^`YWTUVVVUXSVVUVXXTSVSVW]^]XY[VSTUVSTVNWULNLLRUVUOVVTWU\^[UUWZWTTYWWRWUWSWSWW\VXcfc_ed_XUVWZZWSSQTVSPTSQTYVSRVY^^SOUW[UWab^TSNIPSSVXTMKMNQMKORMPKIJMOOQRLLQTPQSUOLVYSNQTONLMPVYVTTNNOORVUOUZZWTZ\XOKLLHKUTSRUPOXVPLW\ZRNNSTKLTSNRUUQRSOU][UOMTUSTY\]VNLQPMHEHSXSLNMMMPTOCGTNFKSX_[WRRTRNNNRSOKNPUSPNPSZZ[VLMSVZ[URQMMSY\[XQRWSPPPQWTQLKGBIPRSUSRRTWRIBKPUTQORTPGRQOPIFGMS[YSNOMTYaeda[]]]]XHBHMQQUWOILUXO@HUVRUTLMNLWXTNXXZXRNSTRNRVSKFOQRSUSSSQJCDQUFEN\^VIDDFGW[YXWTSMUTQOOVXVVSTURGIVYTTTRSWXOJINOOPUSMPOKFGJNMMNQPNPSSUSIDRZ[ZRQUXVNQOQZSMUYUSSPIKTXWVUQKKMKTVY]be_]``YVXUIHJKJNWb^TLQRMKQRZ^YSNOTVUX[VPQTVMIMJR[^YVVSY[VSPV[WUPVY[ZVJ9BQXUTSX^\]XQOVYVUYYZ\XWRNNNMOVQLLLKQZa`WV[bhf\VIRMTXUOMBMSQNTOK[YMJFBGKMQNKKQ]_\VPTXTIJLIC88FPRVMICCJPPKRTQPV[XUSQPPQQNSSQJKTOIGOJAEMOPOLMVVXOKEEGGDGTXYVTTRQKHLMQSILPOQUVOMMMJMKHLTXVRVUTQUVXSRJKQNKJJKOVYTJJKGHIQYYYZYRPUUQMSVXUTTZ\_WRRMPQIRUVNBEKQTUUWWRSROJ=?FNVVLLPOTPOUUW_e^WSZYYWTSKHSZ_ZYWTRUZ^][_aWPNMSSNKEQ\][WXYTQQRRSQWXTRQOPPPTW`ehc^^XQQRRSVROJQUSUQTW_b`[XS\Z[VQSSRUSOSRTFIUZY[SLYF?GQTRFCMMIONZNDCDCKec_8[dQ`aMZKOUTJWXbYSPPU[Y[XY\aYLXXY^]UU`aa][WX]`aZXUX]]^\[WU[^ZXV^npcWVRQTVRORWUWZ[\XZUPPPNIAIKHLPOOYVMFDO[[QNMNWWZZXMOUUPFJHPROGK[`_]XVWX[bbZU[[QCFNRV[XRRQV[TURJKMDMTUUWWSG?BQYZOSTWQKJQQPSXUTSQRWZXVSRNNVYWRWX\\_^ZYVU]]WVVPTV^\VXTQPTTUSOPVRSVTOMOQTSSWTXYXUVUXXSTVTTSXXX]b^YSXYXTVVUUSWYUYSRVU\a^b_\^edVWULOWVQNILMNPLPTVSRUTVYXUTWRSURRSZXPOSVTRUUUWXUWcb[X[dff]X_c^VORQORVSSRSQRRYZWX\ZWY]\UW^`WUVLFPQMPVRQNUXVPN\_ULMGGNPRVTK=NXXSYXPTUOINX\WMHHGMRSSSKLNNNQVPOPNKKMQQOQMMOLINNPLENVXRNPSNOQVZ[TLTTNR\[TUWPKKLNSVWTPNUYWSQRURKFMX\\RHDELQLJNBCKMHMOMKPWSSTWWYTPLRYZRV[WPTVTXYWRJS\[^][XRSLLTTXYTKORME=HORLFGEIOWTQSNLSUVUNDHMNMKLNUVWXVMOJGFKOOOINQQS[`dcb`^]ZXVGHRRGGNWXWUX[VSQPQRY\SPKLU[XYZQKQMHMQNNQVYXYWSNSSLKORPHJMQMOUYWSNMPMQRJJGGUTPTVTSTVWTRPOLNU\TIKUTQLLLONKPSUYVRVTQMMUWTNLNSXZTLISSELX\WNQ]dc]WPNOQOUSMSZXSQSVSQROLZ^]WZ_`^ZVUW][YWWQONLKM\c^TRPOKKKMUTPLGIOYZWUWVPSTLMPPMNMKJVW\_YSTPQVWTTSPUWRDGPVVOPUY]``UMIILTSPRUWXWVRUORRPLWOSW]a[ONTYcb]TSK@:FUULDLICHQOcXSOIJK=>HR\[VLUPIJEELLJLMNNL?DSZWRMPPJLI@HQTRSYTRUOO[_[XPKPPRWVOQWQMPMPTRNW[XX[RMOTVRPPUZ[VTSOQNMRTWUNNJDLVUQLHCMPLKOTMJPSPOSSQQOTUUOMPNENSUUQQKCGEJQRPSXXYXXVQNPNPQMJPTNLS[XVQLNLH@@HLPRQVVWWWVMB=>ITUUTOOOMP[]\Za`\^\\XSTQJEQ[XWVWWY\\][V[^ZTQPSPJDHHQTUTRWRPMGJRLSRIJRRRPRRU\fid\WXUSOSWXVRNSUHDISX_^\TOLS^\RMTEDPTX[RPHCILRSKMSYLFLQPIKH>HE=MKG>KJJV[U&^cgigLfgaYTVJddaXU\bb^^^`\TPUXVUTOXef`_`_ahf^UXRVWWVVXUSRVZYWetxo_ZWUUTNMUZ[ZWWY^USMSXVLJQQJMXUMKIIMPSSVMEKTUQQY]YQWURPOKKVZPGLUZ]\[XYY_^YW[aYTRRTSMJMPOSNLKHHVWRRUUPRSMICFNYXMINV\UMLGJWZZ\]ZZXWUXWYTNT[\ZUVSWZ\VRRV\UMVUUT[^YTQNQVVWVSRUXURRKOTRJVTXTVWVXQUWVVTUOTVUTRY\^XVWVUTSVXYXTYZXYWVRT]`]\[W[cc]TVSQTVWOOTOXQUQQUZYWQUSSKUXVUWUZ\XWNP[VSOWVUXX`dgb[XX^log^beaVWVXSORXUPRQOMKPQTQT]`]XXYbe]WYWSONIGJMOSY^\WHAS]YWZQKGLNSWSFJPRPTRUYYWRLNURJPRMQTOPQLMKIJOUYVRNPOKIINMMOPMOPMPKFPV[YUSSQORTSXSQORUU[VSVYZXPMX^`]WOKJSWTNPUTOFN^_YJCCFNQMKNLCJHGJM@EJSWZ]_`dc\RMTUU\VNNRURTRIFQTSWWSJMNPQSJJSNJMNPKJKNOTSSMGOTWVPFEPQRPLOKHHLGHGHLVZVSUSSRNMMKSWXWY][chjgf]WVWTPQQOMNQVUOLNOSROSRPRQTRW^ZQUPDGNOJCJJKNQSXYY[XSURNJJMHGMPRQUSPNOSTOMJHHEJUTOMNNTRUWWRRIEJPWRIKMQOMOTVOSWWSRLKKI@FOUWPGCEOTWTHJSVHL[\ZSMSYYUULPRSPOIAIPURKPQQV]]_cdZV^a_RKRTY^YNRUYVJJGIMVVSKMU]a]VPSPKLNQW[TRUUVXXQRWRQQLIEPSUUQPVVUWZTPQKIUWNJNNJENRSX[ZWNKIJJ@ENKMRVT[]XQRONQQUVMPKCNTT]a_VPJC95HQM@IKGHPNIFJOU`cH;>O\fe\MVPTZ]\YQWUTRRUPRW\XPKORLJMIGQYWOTUPLGMT[]`ZRQUTSPNNUQHKJJOMNQTOR]YWZ]XUVY]\\^ZZYTPOVVSVTPNGGPSRMFDGNTNOWUSSSOJRRTXUVYUTPVXPLTVYUSMGJA>GKMFINTTPUWVVSRTVUONOONS]YWWRRMHLHDHQROJEGOQIDCFJPVWYXQPKQVZXWYY[[[XUQMQKMWTSXYW]]WUVYX\XQNOJLONSSQRVYXVZ\XTOSTOVRKJKLPSSUUW]dff`[VRHHTZ\[VROPSTQZ[^]XVNKRUPSXXMW[^^WXQLFALXLCXa`ZZRU]Z]TNIB:ONEWa[KL:-<[fX> /?ca[RNXS_aVWVfaXXdc]TXZ`^XMUVcfdcabgd`YWWVTTYac^\^\WYWWWbjihf_WSVSSYWUUWUVYWTQJNWQKUYXUQVXMDHLNZa_XQIOPMHNU^``[SLNUPNU[WOINVXVTQRSRRNOUWVMPVXUPKSWWTVTTTVYVUW\ZWSOKDKOQVSF>FPTRTQNGRXXZZUURRR]]]ZYUPVYWVTVVRRLRWXUX[ZV]`^XLNSTTSPMUTTTTUUUUVRVTTTWRQSNNVTXSPRVXZWWSUTPUZUYXUXTTVV]\YVUPUTRTY\YQNU\_[VRV\^UMVSNONUXTV]_VOOSPQU]ZZWWXUTST[_WSVUYWVV_gcZWSTUagaX]ghc`c`XTSXWSNMKMBDPVUV\baZUZhjaUSX\]YQJHILKP[[ULELZ]]\TGNTRSSUROQVRMLOTX_^XUROHKSVSSOPMMPIHIMRY]YQSUNKKHEU\XRJMMNOSZ]ZWQRQPY\XRSPIFMU[XVRZZYVLR[`ZSMRWTSRRPPU^[ZZYWLFICFLOQNRSUSNFDKOHBINY[\_bfd]XY^^YUONUYVMMNKDDILRKJNUXYYRQNJHJHGILLLNVVUVNQVXWTMKSXUJGJMPLMOPNPLNORQNRTRJMSQMTVV[_[VX]^`\RUZVNJEOTTNOMIKLPRSVXRNLNTUVXWXZSIRZVMJQOMOMTVSOPRUTWRJHNPSIHNLUYX\WMTTOMPRQQRSOGCFKPG@GPVSRTUPONOSVUQLNSSONUTRPLILOLFBHPQQOJMLSVPIJJHQY[]ZRJHKVTNIMONNJEEPTQNMRTX[bpvn_SW`^SMPTXYTTPPNRHCKJMLRX[UX`fbUPYZZSUX[[SKLV[^\RUYUQRTQLQWZULMTUUW[YQKIGQUNIGGKOTWQSQMLOQPOIHLTNJMJJMRURNOMGCCFDA?DKEDT\[MUY[PAFIHDPQTRQMNRKGTdYL[e`SALPBJT\V\`GG_]WPYX_e__^hgb\SV_]^PJLPZ_a_\\RKMKCHJLOMPRLKOUOJQQQUZYVMMOPORQZSRSUTXXOMOTTTLOSOLJS[Z]^[TNMORXWRUYRGIHMVWSRTVTTRMHRTSVXXSOJHMLWZVRTI@=OVWWWYZUMLTRA=;GMMIRZZWUS]]\RPLMIJLNHGOVRQW[\ZVPRVTSWXXWVTKGLVYXWVNRMORLMV\XPR[ZUPQPMSTUXSNPZ]VSPPUUZ_`XROHF>MVSPPPVYXVWY`effca[SNRRIEBHONKPSUUY[]^YXRKMR^_PRURTUYZSTRNEJ\\QKKINTLP[YXWVWZXXZ^^VP4FUXUMMURQNOWXcQ][TSROP+V]>/SVPNTVb^VVPVSOOYWMXVT\gqsiYMTUY]]UYYaa`WXYbcYV^dc\SQV_ffac`TW][WRPY[[YX_dbSRMHJX[WVRNSTQMLQNJTWUY\\SS\[]^_\VUVTJDNPSQLLPUVVSQVUQKMRUVRQTYXNMY^ZJSVRPSSQRPKLTSPOPOPXZZXUMDEMPKKPUVSKISTRLPPFEPODNTTNPZMVOPQSUXVVVWWZUQVTLSUOKPUVPSVVUVVSUWXTSVTVWXUMTNSXWUVUWUVWSUVXVVW^VLVPRWVXRRUUYUYUXTUVYXRSUcmj_TXWXWSRLLYMSXWSQUTTYVPPOWRQPW_^\[^UWUWUQMNTTTXXUXYZYWUX]ZVVWTXQSRSYZXTTSWPIIHDDJEANXX[^_ZVVTRXVJSZUMPQPLMSTRUXWQISY_\QLQTVXW[[TNNRTUPGKORRQOKQUUPOQWUNNOOTVTUXZVPHINVYXNOSTPNORWTR\\[\^\XQJMQTYUVYWLOVWVQQQFHKKIHQRQW^aYQMOV[UKNQRTQWVXWQPMKNNNPRUTKJKPY[aikcSOMLOXUOJPPQSUTRNOL>?HOT]a\XTTVSTVVYWSXZ[XPMPTYYXQINJGJIGNYXOLOSQSXUOKOUWNOQRPTROLRZ_`b_XWSUVUSOROHKURNNPQRY^^YUTTMQM@INTNLVVX[\UINQOTVTNONC?KRRSTMKOPRMIRQOOVJES[QJRYSLJPQMMNHKQQNQLSUQNDCIMKFBKRQLNSVPKRWVRPQSUPIKUVRHHHELUZW\^ZPMQZ^WFGMMKLLE@JSPKMSNKXflg^QTU\YWSQSZ][URPTUVSRSSRQUWWUZXTQMLMVXYQQIIR\^WRRUQNQTU]\\ZWRONUTNKLNRYTNQNLQVYZYUUPNOSOPRQRPPRYZWQEIQQMKGIAP[][]TQT[]SR\\KXWPKRQRJGPO>RbYKgoojbf[UN`^[^VMFXcfZPMMPPNPQSSOJHEDHMNPKIFDDMTPPWWMORVOORSRTNMPZXXTLMNHIRRSPMEIJOWZYXWXYWUVVY]ZRNWSHIOSMJJMNGNVWTIFLRTXTSTLJSSQNGINPNOLNRQOQY]\ZUPNKKIFJHIQTRRQOTSOKJMONONPIHLKP^]YVWVSZ\UV[^\\[TIGRVRMPVVRMPOV_]WTVYZVNLKMUVQTVSVYYTJENW^bdec^XQO;?PPQPS\]XPRNUbeb`b]SNQUMLHDFEJMSRNHO\^ZUUUVWY\WY_[ZQLZ]UIJEP[[NFMKPROILPXXWROYZab`\TRab_`aaZW_d[ULD[d]`cnuq]ef[@LZ_MMJVahaJJWSaZSVPVVYbd`gmmbWXT]__bcg]ZYUTY]\YUZ`_YVZ]bcZYV[[VUYVWY[_^\Y]fbWQPJJILVXURUUMJBELVVYXNR[^]XWZZ]^ZVUTPLJRVXTOPOTWYVW]\\WSSWWWQRRTPOY[USRNIGMX[XOGEKTURLFGY_]Y[SLDHEJPPQJLNQTVPMRRIFOQOTWTUX[UVWVVTURWSUTTWVRPOUVTLMVWSTXWWQMPPUWZXWVSTRVVSVWXSVUTTWWSWWZ[YWXWYPVYVTVURRVVYOOTSOUV_bXOU\hjeZXWVRLKWPMUTVTXWXUXXUTLNQUXWY][X\^^VXYTTPSV`\UUUW\[UUVVYYVWUXWTTTSTSYXTPSUUWURJMJKUVOJPOSTUVY^\RSXUOLJHQSTQPQPSTLJQVUPQPNSSQWXSIIRZZQEDINQWTOMTSPMJUYUTOQZ^\XX\]YSLP[`aXU[]YWUT[ZSSQQSRRSLGOQVUUVVUONXYULLPLIKNGEQYZWWYREJNQVXRPNSQIMOUSQOILUWRORWTRRVRSSYbkjd]XMNXXPLMSSOPUXRUTQKLJL[e_YXWUNIIIISWV\YSIHKLSSQPOSRPPMEGNOKGJMRRRQMOMMONNUULPQQSUVY_dbXSTVXYYUQMKOUUPPQRPRVUTMOPFKJEC?BCJTURRTOISUSPOQPOSQGHKRTPJJIOTQHHQTVURFMRPGMSLFDEHKMVYROVXRKGPOKHELNTTRIJLNPU\XPIKKGJKQSJGQZc\VUUNPZ]ZSYURKDOXTFFNQJJOQLIKLLNLJMVakofa]_]^YURPRY\]\[VNNLKNSVRSUVPLJNRQNKRYXZURR[c^SJRSK@PRUZXRONSRQRYYSQVXYTJPRQRTOTSPMLRUUWRMQQLKTYUMFFN[\SFEGKU]ZONNLMQSQNWUKVYOCKMMHIINKGYYQZjojfc]THBd^TTVNNQ]bbXX][YPOUW[YTNJKHDHGLOJH@DMQRUWSMKFDHJMVWSSRSVTHBEDBHRY[XSKNWY^^][YZ^\ZTRWZVSLTSPUYWQMRTQMVXVTMIJKLILQSLKNMJFC@NTVUQKNPSTZ\baZMUX^YMEFOTTNHLNPRRQRXZXSQQRNMKPW]SLLLLNKLKV\[Z[XNKQQKIPPPPLOOT^b^WWXZXTPMMTTORZ[VZYWUQMR[`b]\VKHMIDEDENNQUSOQLPRPLW`aZSOJMVTDACDNUVLMVYXNLS^fhe^VSY]_]XUWVTWZ^]RPSGELNMKIKOSZ[[ZZROZSOQ\^]abg`S\]ZSRHCN>!IQkk`J@GL`ZVIeklg^QW]onc^YUNS[WQ^]X^U\efe`_]TSTUUVZ_`ZUYUXZMYXZ[WLXZ[ZX[\YYYW\^_`\XTUOMNORSUONPKKLJEKQXWXWPNVYXSTX\XTSVZZWTWVTTVQMLRV[[]a_]YSOSPQTUXVRNJEPVOJ>GWYQIHIJPWUOIILPSQUTPQPRTUVPLU\][XOLVYQJGMU[ZXTRHLTSLRQPRTPNONPRTVSTUUVSWPJVVVWPPQXWVWSTSPMLQUURWTTSXWWUVTVWXYUV[ZYNKSVTUUWUYXXYXWQPTWbd`ZUY\_\XTVTSTTOWNW\YZVTVQRXWVTTVQYTZWWWUVVWVZ[VUV\bc^VX\aYRTVW^\[^[VWV[\ZVTSVXWTUWWVT[TTV[YRAENKGQRUYXZ__ZUNLRXRTUOOGNSQKJOS[]ZRRQKOXZTNTZ`\PMPOQVRJJHNPHHRZZYSQZ\VVX[TOMNSX]aZPSVUYXOPXYTJHLRVSORTX\WRVUMOTX]XORTRLKJMOY^]\YZSJJGGNRSQRVQMPX\ZXPMQVTQNPSSJHMQOPLPYbdgf_XQLEEHLNRW\ZNHPIIHHL]b\UTWVOLJDLVZUMRPPIDDILPWXTW]][NGHKONKJJJPSOQSOMKJLPQSSOLKLKS]_\TVVVTSOPLLSRPOQXYVNHKRPQQHKNNJ;7DMRSQJHLMRSSOLKONQVTUTQVPEECHMONDEKLPPMKOLHFJNFFGECCOWWMBP\YOHFKKJHGJQVPIMNKNVZZTJLJJEHQOKNQ[][QTTVSQWXSPKNJKHOMABMVRLONMOLLKLLQVX`gibYUWWOYTKMTZ[_a_SPRTNIIONMWZVLIRXWWVUSTUVST[[\TNQRKHPOKJPWVQIOTVXYTOSVVUTQPNPQMPQUSPOLMRTMKGJMTXQKFGLW_XLJNPPSXPCKTXTPRRYZMNZYKCJDPNBEPPOHHSbbYQ^\MGQSUMMNMHLRRTZ__WTQV_^]SSTOCAIJLRROQKCGQRTSNJJMKGPRTWVOLUWWLHGKQSTRXWZY[YUYX[^b`b^VTVUWSJLTSVVTOQUYZUTSOQLIOQQJEILJPPLJBBMLRSQKJLLPSUTZ_VRWZ]ZTMLNRUQLPRPMHIQPPUQPVX[XSMQSONMGEKKMNRSMNSUOPQURRTWVTPKILWaa_WUW[WTTX]_VRW[[XRQQIHMW`b`VLHPRNQPLMNMLOMOK@FJLNX__]ZWLKQQOOOJNRTPX]XRNLSZ\cih]URSZ]ZTTYY_\]aYVVTOVTDJMPRQWcfd]ZTSWRTQV_^ed]RKFUVI0=9BRTQZ^VS?LW:+BD3MWdTY\WXTa]jij^USMK[infkpe^b_^\ULY`ZYXY]\UXUYXYVTVY`YOU\[VXXYUXYWYacaWVV[VPMIOTSKIMJKOTTPRTUPQKHKUWWVVWUSV]^[WVYVPTXXXSRY^]]^^aaXWWVPSX[YPHAGUZYVOQZYUQMHLY\TJFKKOJJLOOQPSTTRMIV[[RLMRUVSVTOPUZ_WONTQVUUXVUUOKMSOTUVXVW[[^\USVZX[XVVYOTYWWUQPQRRQQWWWVVWWUTSVUSSSTXYVPYUXXUVXRPUVUUPMRWUX][[ZYVZ[XWWRUTUVSY^_V[`[XQSVYXWUYTPSUVTVWUXRXTRRLRR_gf\RTVTUTSXacbedYXSY\WVQUXSUTXTWRQNZSSY\TPRSKGFKQONW]caa^]XVMOSZ]WORSSPPV[_ZUPSUXYXOQTY_`YPURPWXTMGFDHJOTVYXSNPOT[XLFJONKX]TJOOLNOIDKUXOQUVWTQRWY\ZUWUOKJ[_]UQQRQOKDJTYWRWXWRHFFHNNPQQRQPOX[YTNUWUUXQIKOGGMMJKMQTTRV]]]ZZXQQTPQZ`_QAEJKJISYZTQRUTRRLRU^[YSOOMNFC=GPV[UWZZYVPQPQPRUPGFGGPTTND?GPPSSMDECJSZ^\KIJHC@JVYXTMHLOVZUNDFJLHLJLJRQIKUUKELOLDHPSUZYVPKFMQMPPMNJFJOLMNLJKPUSPQOKKEHHJKLHGGRTUMMTUOLLEGJJJFHMJLTTJITZUQSTUTTOMRSMRZ]ZTOTYWNW^a_\Z\YTURJEOWURI@LNOPQROPUZ`egc[Y^]TNUQNWWZ[a[OIQXYRMOSRLPNFLSVSYZXVXZXY]_\TKIMMGJXZXSKRUVWTZUNORVVRQQXVMBAFLIMZ_YSNPSYWQNNPPOMTVTWQXUSOVUQHMOJP\`[]^SUXQVc^WTM8GMJMZ\[UDBLWNQTV_bf`QAEJOJHFITU\VPHDFLONQZ\XLALLJJMVSJ>EMONKJLPOPLGFCKRONPWYWURNRQJOV\^\SPSSUX\__]a[WVURMJQVXWOILRTWXUSRNNFDLSWUPOLDFIILJDJJKOSQJKHKUZZ]^XVQRQONLJLQRONSUMGDAHJHEEJS]`_a_\WQVRHGJOQSPMKKUXQTZ\ZSQRPLKJKQ\Y[[VNFJKLPSXYRPT[_`[USRGGQX\XONUWRNQPPMJPPNNNQPTXYXQSV[]YYZ_XMKOSRRPORUMMKPUYVX_a[\ZRQXVOQTSX\WST[\]TS\[NLT`\LFZ^ZZWUUURNJSUSRQRPCPZOBYXA4KHSWMOP<>DG\`WBZZZSOLWQ[VP[^VMWNXbf[YengUY[TKQWfni\WX^ZXYV[b^UTRV\[YXVWYKSYXZ_``Z[VWV[[XVWWPPLKLNPMSWUNNUUZWPEHPTNJMQRTOV\YTPXYLMW[[YWZ^]SVUUVRX[SQUSSUTONNOTZXRU[\ZWTLCQYULDNUQPMKDLQRTTROJFNWYVNJNMLAKQOOOXYVOSVRRWOQSTUWVSXSTRWTWXV[ZXVTTVVYXWTXXTUYWWPLLPRTWWSUWWVXUWXTWWWUSOTY\YXYXYVWTPPVVTSSQTTXTRSXWVWUZ\]WSTSXJRY_][af_XWU[`[X[ZXXVVVVXWQPX_[XJRRLXbgaZ[YV[WTV\fge`XRKPSRTXXUVWVUUTZUURUX]YXZ]VPOGBLNGLZY\dhb\\WPOT[YTVZTLRXZY\[XQMY\TNOQQW[SFEFJQVVMIIV[XPLU^`VOONNQTVQPPMNVXSPLJPRNFFFQUOOUZYWTSMOOKLHOQLHU_a`WLNUVTPQSVTQLOOPKGELPSUXSOPPRXTRRLPRUSUQKKPQLRUQKKQNQUUWZZcb\ROMOJV[WMHMOKNRMLNQRGHRUSNVQPIKMKOPSLHPTVYXTPRPNMLPNGKRWVRJFJOURDIT\YQTUPNNEQW\]WPQLHILNQQQKJNMTYXSPMNIBETUOLLOQYXQJJW[ULLIOY\WSRW\UKMPKT\WPPKIGKFFNSTRSRTRRRWXWMOOMPW[XUUSLPMEEIFFHLPNOY[QIIKJLOPPRRJGSSRQPOOPQSTRKKX`a^]`^ZYYTTRTOOKCMVTKOVWSQOVadd_Y`e^TSTPSTSUUUJIMNQWVVWVRNKJINOTUUTPUY[TY`]PAIRRIMY`\VJDMSUQRMMT[[XSPMS\YRINFIKRVTONQSSVVURNOLPX\^ZTV]XRNMNRNKKSYXQVTRW[XZb[PVTH=HMFJFFKPRSQLHHHMPNMOSWYSIRRPQSSUUPLOOQORTW[XULKLSUZ\YZYSHIPTTQPSTTSQFJMSVTROOHKORQNOVPEOURKJJMUUYYSOLJHLPNLSVTPUURNKFGPUSOKLKPU\]_][WVYSOJNQONEJNOQOVYZMIIJIHGLT`fc[PMORJEGBHPVTROY_baWRMMIDJRUOJORI=OWULFMOMQYWWY^^XURV`a^Y\]UIGMQSNSUSRTUOIIHMKRVSRSLGYYVVRMOTUORY^^TP[`YRWaaWJTQMMMHJA?QMX\ONOWNEYcG>Y_VTUOIQICGQBORlvymVVUZZYV]fbXNKTUNX\bde`_h\XW[ZVX^dcec[UTSNXWUYWTUROWW[UVYWVUQTU\ba[YXW\^^XYX[ZYSRRSWX[\WKGLOORSSKIHCMQVWQFLRXTQY[XOVY\YTUTRSYYTU[`]PEJMHRSPQVNR]ZQQ[\VWXVPRVVQHJRRRRHANNOZZWLKHNZ^^WUTQHBKRTQNHIKQSSTPWUVVUTWWSVXQLLTXTTUVXTNPWVZUUUUVWWVUROMRTTWVXQPVWUWWWS[WWVTTRVYYYYXXXYYRLLKVOUWVVRLXLUYZXTWSQSXYVTKNT]]Z]bWXWUVWWUWXVY\XWWVROW_fea`_\XYemneZYY]\RLRY]ZUWROWWUUYWVUYVPYXXVPWWXWRSXXOJUPILOSQZ^\acabfcVPQQTUWXQGLWUX\^WRKRVWUTPQZ[UQLMQVXYTNQU[MDDGPWSSVRQRVYTQVVRPSXWOLSSWVVPQPOLTZVVPTVZUNSURWVNLW^^XNOZXXTSKNPMMJOPKMUWYV[[XSTTZ[VSVVPUSSLHNPRQSSTVURMLQWQMQV\acegf]QO[[WWTRORSJKQTRHMWZVQOLAGSSSONOUVVWRRTQPLSRGGFKFITYXZTOJMVTOKU]b`]ZRONKKSZZYXWRPQKKLF?GPSQNRTOMOTUGDMUQFLTWVTSMJMRPJKPRQNMUZa`UMUUN[b`WRJKPMKLPSPPUTMVZY\a[RORPRTTONSSZ[WPNMLJJLPLLRXVMLHFGOPRTROMNRNJKLNVUNKLQQV^^XVXZVY\TLSSSVOMSYZWQPVYZUR^ef[T[dc\SIFMRRRXVMEJ@PWYX[]VQSQPDCOWUPOOPXVW[_[QOTQIFKNMNB=GRRFIWYTSSPNLNU]\QSUVTPLKQRUVUNPPQSMOTVXYZTNUZZULIOQPGIOVWVQPMSWTZ^RMTPMJILNSXRVTUUX\XU_]OLDIRLTQOKJEKQMSVTSJRWYXWKLIHDHMRW[]ZUJKNOUMFEDKMNTOJPRONPSUXUX\\\WOLKPQQKDEIQMGMTVLFHLLPUPPRVSPHHINWXWWWYYTQNNQSONPNNQQLKSYUHLVRM@?KPTPRRNNMJIKMNMQQRTPJKPLJNPRQNLLLIGHMLUUUTQPSUUQKHJTSILQZWTMOIFINPQX]_[QGNVRNKIQZ[UUXY]^[WQNQPNMRTOJQSLKNSQKJRMKNW[VSURU\_[ZZZY\YNMZ^^ZSLQPLQQOGGGEGLPQPPHOVacb`XSX[SIOQQQW]^TORYUSRPT[^_P25FXWXZYNR]]SYX@9TV\a_JMbZLCZUGI[tvnS/STVLVY]`SKRTVNNRU`_^bfZNJPTXeec\_cb\WTNNRTYUWVZYXVXYSTYXURWNXVPYNQTWWSXYXVVVURRSRZ]YWQNNRXTY[XTQVXUOUPKOPQSUXZPQX^[VOJAFNORPPW__QCIKPVTJJNJJSTMPUSKPSPNHJJOWURRMOFJTRSTTPUSPQVXRLNSRLMPTTPNLINV^[WW[]VVRVOQKSWRTVUWSTUXYVTWRXXZUTV\YSUSUWOSRTMPSUVXWWVSPRWUUTWTSSTXYYWSMUYVMXPOQX[`[YVRSXUWXXVNPQT\[WSQOW]\afcXVQQQRTXXSTXWVZYRQQW]XZ]\Z[`dmoj_YSTVPSSX]``ZYTUV[]YWTTXQMSYYXTUTXQJNW[ULPRNTXZTSWTQUS\gc\QMOQTQPRKGIKU[\ZU\[VUUUSSUSNPRNMUXYSSQRMJMSOLFGQVSSY]\URWQOKLWYWTSPTZTTPQTPRVUQMOSTQTXVU\]UQUZXTQQNROQJHMQPNMSPKNU[YSSTPMORTPMMTTUSSQRPUTQQTRRXXWSROTMHLWZZ_iorne_TTSSTONSPPNQRWPSWY[^[VNIRUXVLLPPQMNKKQRY[UMCBNILUXWUWNFKNLLNLX[[RRORSTRUTWW\WUQPHFGF?FRVVQJMOILQTPFGJIEFUWVRSRLGIHHRVYRKDGRXVIS`aZSZ]^\VRSQLINSPMPPNJLPLQRMKNOMQRTQIIKSVVZVROPLJILPNILLJLLMHLPPQRTRTTVSTZ[UHHOSSV_db]TSOMSP=FMSXVORRU[^ZZZ\ZR^ii`V\^[WOFFNUSPUXTTTNEMLLX\WRTXVQHQZZYOLMGLT_c`UNNONMPPPMKGLVWRLX^\VJLFIKQRPNSWVVVSQJMQTUUSRRWROUQGPUQMOQV\ULKSMNSTOOVTIQSLGLKLSYUOMJKUYc_UQSclnj]LOMOPPOGE]YRNKMSYWMHK@GNTHFPUUMGOWRTV\WRPPQPLDFDKOSPNOVWPJLNKADPWZXUPLJGNKLKIJJNRSRQTQQPRROOMKQQPOLLLNWYUMKTY\UK9CIJPOLSVQMRXVURU[XMCANSKNPOQQHLRXXRSV[VQTKKMLNLGKPPNKKNNPXXXRJA>KVXXRKLQTVTUQMSTVWVOHOQQT]]XVX[ZPLHNZXPKTUZ\\XNKPQNU[[ZXVPKKQRPN[]XPPSSRRRQS_gjeXUWWTRSTX]_XXOCAFLMORUQNRSRLLPORX[_b`VWZXTQSRRKHTRMNKKMIJO[e`[NPJQUU[\PCNLIKOQRSURMIKOVQIMLHGIHEKNONRSPQNKFLWWYXTSNPWYVTOTXVNMMPHILSUQQUPPRNNROS\_TUXWOIQQTTTTUTTUXWWUPTWURUTXY\WUX[`\XQUSPILMSLOSTVWVXUPRPQUXVUTVYVWMYOQQT\ZUPVVWVUVYWTQRWSUWTWNNNTWVXSRQTTV^ecXTVOLVUWSTVUTXUXYTTW\_`a_Y]`^bhecaZWPTUXU_`^[YXXXY]_^YVUWUWTUSLUMVWWYYWMLMKPSYUONINNQVZZ]XSVXUOCHUVVWSRX\YU[UQPXWQTXSNMMNRVRVTSQRTYYXRQPQVYVZZWNBFIQUY[VRPKKTTTTUVYUPJORQLLLMPTUTXZRSXYXQSSNNSUPNGKPMMOPNJJEGIKGHNXZULMPVVPRPONORRVUWTNRUWX\YTTTLFQZVV^eqtrfXRPQOPRXYMJMQPRTYZ][^UPJIINQMMQROONLRXWWWOJJLTSLQVPMOPPOKGMLQXWRPLPPVTSWSVZ_[R\\TLOLKBJUYWRJJLKMRKJMMNLNPSSUXUNJPQJJJLONNJLLGIU\[PBGPV[XUSRQLLLLFKLNHOMOQKJNPPIFPSLE@EHPWSTSLFHGQXUOHFLRZSDDFMPTRORX[ZTYZSMLRNJR[ce`YVOEKMFC?GTUPJDDRZYRMRPMWabZV[`\ZRNHNSOIOXTPUNIACCOTTVW\]WOPW]\WHBHMYcf]SQKKMOMLMPUWRSXWRMNPSOGEIJGC@CLOONMQTQKNPQVWXSLKJJLIPWZZROW[VOJNNU\WQOPKHRVK7DESYVOQSNMUZ`a^SRaoxtfK@JVXTJBANYZXRORUPPMILFOTNNT\^XV[YXNNTYSNMQUOMUOKUVSPOPPKSYXSEALQV\cca[RF:FSXYURZ[VRSSQTYZURPOSRSSSQPOUYVOOV_a^WMLNONUUQSRQVZTPU\bcZSRQPRQMPWZVVZ\[WUU[ZYWRQTRKHIHOWVJMUVRQPSPKGIOTZ]XOKOTXYZVSRVWZ^YHEPRWbc`TQVRNKJHMQQTQOP]^ULOURQU^\]\WTRQRMNPWYQJMQVX\]\[VeiibZ]\ZWSKMRX[_]WVWTUOPLMNOOK@DRQKIMW\ZZUMOOONQYSIMSPMLMONTVVYX]_YRD@TY\F0P^baY`a^G=ELFU`SC==HVkECMeaZW]OIQVT[VVQQQXXUVOUQJLck_UWNYZX`_ZRTUVTSWX[WZ^\VUQUYXWYWVVYY^b_\\Z]ba\YWYWWTVVSOSVZXKLOQOS_^]]]YYXRSUSJPPMTVUURRSTW^_SIDNOTVUWRLRTPIHQQNJNRQNJLGANQQRUVTMGDDMT]_\]\YUQQTVUQMOSPPQOMVVUVYXWZUQSRUZYVVTRLJTWTSUVUTRRWWWUQTXZ[XVTWVTU][UUUXVSSRMSUTRQRVUWTQRTNNQOPOQRWVTQPOQUY[\ZXYZYTUTSXUVUTQWXTTSXVWRSUUOMPSX]\UWXTRSVQONUUWTV_bZVZ^a]YY[\^]^^]_`][UVac^W`^][ZYVWY\\VVRVUTWXVQLSXVKYVOIGIJKKHOQQLJLOOWYVXZX[_fff^ZSRSTRQUUUTRGGPVPNOMJGPTTQQTVXUUUTWVXWTQRTTMJIHJNRRW]^TIJHMSPNTY[\ZSIGQVUPNOOUQTSLOT\a^YNSQIKSUUPIPSLDCJQMGJEINONY\TLJORSOMRQMQTTXWTVSUSYZVVVNQOPTPLOT\eda^USOOSX[]YUTMLFLMOXWSPHJMJLTTQPPSROMOVXUQTPOPVUSRXVRTVYWSTOOPWOLMPJEKPVWXY]a]SU\YXUSLIELVVWSKFBLQLNTTY]ZUNPVXYPICKRMKGMSSGBGIJORKHMKNQQPPTUXSPKIJPRHEPQSSTPMPVRMQNJNNLORNKWXSMLLMSROLPUTTRKOONMQRSSXYUSQUSORTSSX`jrph`ZPLIKLEDMQLHFIS]^WQMJJQZYT[`]`]ZRGKROEGMOKKKJHFJPT\^Y[\WLGKOSQHEEKZeiaSLLSRPOOJJPXUONPU[]XQOMMMJDBKHJJLDABJKHINLIPWXQSSMJPRTPRNNQSNDHFOWVSPVTSITZRFJHQVRNNTPORW^d_Z_\eqhWIYQOWRGA5K\N]ZLU^c^ZTSPNSXRVV[XQWZXVQUYPILWTG>KTWZUTTPQUPKMTVWQUPXaeca\QIIKRUTSTYYRRMNOV[YSV[WTSOQOPSW]`[SMQX]Y[XOJDKRXVNOT\ZUW\`d`XMKSOSYTRV^`YQLNTVTWW[ZVSUVROMMQXZWQRUVURLLLPUUOOUXPMTWWV[YQTXZZYVNMQONYjldSMIIOOPOQU[UEHTYUQWXYPV\TLJPVUSTSNNMQNFGQW[_]ad^UYZYXZ_^ZUQSUTWZ[\]WVWRKAFMKICBOXTPOLJCLX[U\`]VPLOJJRJ?FQVVUWZ[YZ_^YNLWUNQKDLUYTSTC<=>GLWZHL:PYTP[ajdI4HVMUQXad`QPUQKLUQTUWY[^c`XPOSPNZbbWLMUWRSTUQPVTOOPYWTMISZ^[VRJFNTSUSQZ_ZYWSPUZ]SMPWXRPJHKNVX^`YMGOX[WXWRLNMNSUQMKLHPVVY\^VQLOTTYXTTT^[PCFMPUWXVVTSSNPONLLMTSLLROQRPLIELQNPSUOMRQSVYXVPV[ZYSQQWPAQdrscXWRQROQQTTPKMTWXYTROOW]YOIHPWYZXQQNKHCCJSY[[\]VNGMZTSWVUWZWVZXONWXZZ[ZQKNQF?GJUZWTOLHFQVPXafee^RJ=DOOKEORONQUTP?KUJKACFILSPOVMM\`R6.<8=TXSHI3E6 >B@\;ETPBDdimecUVLUKXLT]ef``ij_UMJXVUTXZYVUZ_ZW\ZYSRY[XVZXPVWYYQQV[WYZ[URORU^^^WXVOV[Zagc\RLNRQVTOPQWZZXYTQSMFLSNLLQSRQRPNV]YQMRPZ^[VUQOPKJIQWVSPPPINUWUUYYWWXUQSSOPPONSWZTLNOPNQWVSQMDGOPMGOTZYYVRRMR[^[V[]ZUVTRTSSTUPSUSTWWVUMJJKVWTVUWVVWUTVUUSTUTQRQOQSUVSXTXVVNMKNWTTRWXWVZYWTTQUWX[X]XUVXWUYZTVUUYXUYYLMUNW\_[WTTWTVWLKSUXSST[\]ZYXRRPQWUUWagigb[XUSOQVZXXU\`]YY[[UTXUVXTRVWXWURPQQQTSRNMPVRQROPSXWSUXTNLQSU`fnjaVUSRRWXZZWNSYXVQSVUQSQONHIKNJDHJKLKNVY^XRQNMKIGJE@EIHHINSZZTPSMOQHC;=OSRRQQOLJVZVHCPTUPSUSINRSQLJUWUYTPSLOQGECFEMNGKOQRWXTSNRPMKOQMMOUWTROLKQPSXVXUQPMOUW[]\WMNVWVXXSOUWVTQORORTQOWZ_ZXUTOLIMSOHEIORMIGNRSQMJMIJKRSVPJOMHQTPLKKNTRKKORWWWTOSTRSTSPPPLKNRVWXTX[ROQTRROUQLENTSPQPOSW[TRWSIQPHFEGPQKIEEFNSSNCKKHHHNTRNNH@KRNMNVZUPNNPSVSEBHNPKJMTVRLOSTPE?CMLMLQXZYUUQLHIHHLQQ\ije]ZSDGPPFFJKQPPLPTUTSSUVUMKRZZUVSROJPWURRKHPVQNJDDJNQW\ZQLOSROOQSLELTYWXWRTXXSMIMWUNDNTQPJJQVYRPMHIQWQIHKKLNKNJCHNNOPQQQQSMG@GSONPRWUXXQOKFRTQPPHIOIEPZUQK>7UVbpmVMMKROJ_`b`agifYYVOKTVV`a_[^_]TXXXY[\YWUXSV[][\ZX]ZUY[ZVTUWY_`]^UXTWYXWZZSZZPLMPPNKFPUVWXZXSCANPLPWZZXUPMV[^YTVPOMWUPNJNRTTNFIPQQVSPJSWWSUYSTXTQRWQGDHLLMOLGLOPPQSVTUSMJJRSMKNPW[[[PLMTROV[ZWVWUQWZYUPSUYVVSRUTTWUNTUQKUUVZTVUVVPOSYSTURVVUTUYZVUYVSRSOSSTWTTSXYXTKNRX][Z^\VWTYYTVXXUWUTXQTUMNTQV^b^VXZ[XQNLQRUWUXSUST[ZWXLQRTWXX^_]\WXXWWTSSTUWX^`ZXXWUUQUUZ[UWUUUTXVSUUOLWROLT[URPTTWYXWTPUWPNTYYZbdc[XYVTTTTRORSTTYYPKPRPSQKPROMURNRVVNHLPVRONRLMUXSJA?DFNOPNT\_XQNGELMJFGNRPRRSOIMS\YOOTRW\WWQNQRRNFIORX\[UUPUVQRTOHLJILVYWXXYUOLOJGFJPIHNUUSPLPLKMNTSML@ETUSVVWX_b_WUWVUVWQPV\ZURXY[Y]b`XMIHMLSXPEIIKTXXTLPTPLONKFOSWSPNLJCFPSQHGNSSUWZZWSSUSTTMQVOCGMOQMQYZXRQQRPNIECBKPJLQQLHGCKLNOPSWVNQPPONKPTNNLJGLPXYRHJMNLMSRQQKACHOLHMUTUYVTQROIHKJNPPJNPQRTUTSME>HPNHQXV_g`VSWSG?>7K\[SPTVOHR[WUXTSSVFCDKJMX`dedZVMJSWXUOLQU\]XKHLQUYYWOLTVTOLPQJHLLNVUTYTQW_[UMMQTSQSQMKQY]ZPFHCGGOUUPIEMNPVWWXTKDKMMA@QROSRMG@GOPOOTQRUTQVWWSLQVRMMWYTSW[ZTOV[_]XVWXXWVOONTVSSZWQQNQWVWTNHIJLPMJDCLWWXTQDFMQTQXbmmke`\PLMX_YOTWYWURNNXWOPURRPKFKIDMSOQUSRTNMLDDQWXVUWPHHLTRSRQSWXPNDCILPRRSRW^ZROPLOPOUQNEKRSRQVXX[\[USUX\\[TNU_]KIY\]XZZQJJMMNORVX[TCKflgXMFPSPJO_`NRWP,=:WdcUBSRSMQQXQOLLajmigifYRTXb`XYLSPSS_[XXVWWXZ^\\b\Z]ZX\[YVTQR\a^[afjnjcXXXUTUQTSVVVTPKFJPXVSHMOLIOX[UNGKOQRSPOQTYWQEJLLOKBAGMRUXWL>IOMLMRSVRIKNLMOOIPWZSHHH@@NVWURSU[]\SJEFJNQTRRVZZTY\ZWTPMGMT\XSTTMOXXVRZWSRWWWTSUVUWVWSNSXYXUPPVSSX[VRWUVQQPRQUQWVUXVXTUTVTSUUVKKORURSSWOSUUXXUUUUWXWURQTZYSWTTRRWYULMVa_YUT[[[XUWWTSPKSSVVSXYWUX[^URVTVW]a^YYZUQWMOPNTTVMPOPQUUW]\WUVTSVSTXVWQVSVQIPOONOMJR[[UOJSWWUXUSZ\YQORSPQ\ba^PJLRUWUOQOQMLNLTYWQNOILMNNUXQIHLPSOHFGKUVRSTWOKJDCGOUWVSTTTTPUSSYZVONMUVOLLQUYYWONWYUJKY`]W[WQINVXYSSXTTSQRUWTGFTX[URSTNNWZVTRQKMS[VROJMUTRKLPWWRRTPJGINTZ^abZU][WVXXVY]VNOTWRMPPQ\_[^cbXSIEPTRTNKKEAEQ[ZTWSNOLMMSZ_ZRVUPT[YS[]WPOQQHGOUTOIQ\_[SOSXWTRRLFEJMUUPOWYRNTX[PNTRTVQPPLNTSQTX[WTXXSTQTRNIELQLNPLNPSYVKBDNRTPNTXY[VSMNRNLMPLPTY]\UOJMWWOOOOPTQPOOLLTQTUTSOO]`\bhd\VUSPKPSRNHPTLIMQZ^][W\b`SKV]\YSOLMRQMJUVSQKMSPNNOPQKEAAJPTTXXRRRSNMQOPPWUNPTPJHNSWVROQOKNUWTQRSSTRPKGMOMPPQRURNRTUSMJG?IM@HOSSKOPOPRQKJSXZYMICMMF>EOQSSPO\fbUPNMIG@DGIIAFCGQGDISRLGJMORUWPVWWPJNOPPUYXUSRSA5AISRQPQMPUUSQONJNKBNTXXTQTVRROMPQQRWURRPTTY]VSROPORVRIHSWTOKPPSPNQTYVOLLMWWSQHKNMJIMSOTVSSNJGMILPSRQXWQKQZXRJOXZ\VPMSTUPOMMQXWKPPLLJNQSWSOHFHDIOOFHPONHMOIDFQODPgnsof`YMDHR\YYXXTTTUPIOUVXZYVVMHNNKMNINTOHJHMRQLQRPOQPPICCFLORTRUVVSMIKQSW[][[[YLLMMKPMFMIDHJSSNTYZ\YRCBKTYVPKN[b^RRY[X\a[UONDNRLNT^^UBLVX_d`[WY[W^cfZUKJJ^B,JSC(2o\JOJWTTJUWjmj`cebfa__WYbcYTUX[_YWYVUUW\\\^[UQVVX\ZWSPX_`b_`gjjib[\][[YWSRUUTQRNOOUTTONMPOMPV]\NGKKHOTSMLNMNMMMDBIKEEFPRWYWMJRWTNHHQSQPPNNNUYRLMQQGJNNIOWYVQPVZ_bXOEIUXURTTWWNQ[]YSPQQKCFLGJPVOGPXZ]\Y\[WQVTRVQPPRWUTUYbeaZWUXYVVSROUVOJSTWSXXSRWTURNNOPRTUTUTTUVQRTSWPORVSYYVXYUUSMTX]]WXXVXUTVSWSOSVUWWVTY[XSRSRUWUTY[_\]]UTWX\TVVXX\_bccc_XWSNTULRUXRRPOLVTY]YRVY[VSVUWQPTV[SONSSTC>DFPVTQPSUTSUXWZ\[SLHIJJYbfe`XVVQNMJNQOGDMQUSQGKH=:EOSSQPGKNNIGMNNS^[TQQNFKSXVMJPYZTUUQSLJKKW\XUOMNPJLLOX\[YRKMSPIM]`XUV]XTMOTRMMPSPPLPUUSJPY^YSPPTTNTWRMSSVSTRQNKHEMNJONIKQXX\USOROKLXbgdUU][VV\\WVVTTNLPRKQTUZ^\\_]YOEAKTVSJQUTMOU[ZWSPOQSQPPNTUNNPIMYVPU\[TOSQSQONQRKLUYWSQQTUSUQOB??GQSROU\TORUTNHRQVTPQOMMNNHMSVUTPRTTNKKNMHGPSQVTQNJHWOFFPUNEJSZXVQG@ITVWSXWSSXXSQNHOONLIJMRURSWUOMPQWVNKRY\[clmcWPOPSXSPNOUYZOONQW[[[`ebZUY\ZUQNLHQROSVYTVSPRRVUSSMJMKBIMG>GRWSHTgme`SMECHLF@@JGB>OLFBLPUOQXSJILNTWSUURQJB?EIOPPPOQOKJMIFGSXWRQQLORWNJOMLWTPHMUUUSNMQTSRQLNWWSNLFLZ[U[^YSRQYX`s{wgULFIMVWROHOSWXVWY]ZTS\``ac_WRURQKQVNIOFIRVWTTTSXWTTTPPPMHJMTRMHDJJMMQRTXQOLPTPOKKFDNUVWWWWQS\YUXVZ_WOOSQQPWYTNHJPLOSXWUNCEHMRNIJNKGMQKMQSSQMLNNPMDDOOUVUN@T`acbYAARPCQWWNNP]]WX__[U]f_GIUKLW`Y^TJVcj_*BdyjLWV]\PTOPJUTU\WVT^egikd_XWSTSTTTTXLNPNU`a[XXXYUWXYY]hjg]UYXTV]\WOUX\^TSc^WMJIF?FQNJQW[[RKJRUWUPOSSMPLGFOVVOGMU[ZQMLLLOKMRTYYWMFKMSURMLQVX_`UHS\XNLX]a]LHPTYWYZ[[\TOCDJLNLRZZXRLILNPHINQQRVYTLHKGPW[QKRIJWTNMPTWWSVUQNVTSWSRSRPTSXXWVQUXYYVTUTPTTZUSRPSNPTXOKPLTTWPLJSTWSTUVURRUWVV[\\]ZVYX_^VSPMRWVUSOQWUTWUVMJLUTUUUUPPTSTSVRQNRY]___`ghZOMNPRWLLTUX\[YVTVTSRURUWUSRPSTVWTTUXVWKVPQTRUUUQTVYTUYVOJNIOVWPQPVTONJLV]^\\\_^SMV_`^][YXQORQI=JPSOKKGBHLWRKKQRIMPMKQWYXPEN[\\VMJDJND?DFJQPSRNMQPNR^^]VUTVOOQKJOTTRV^_WSQQPOKRY]_]ZXYZZVYSRJMOPPLGGGLLQQV_`ZXSJJLMQMQUXWWUUPNPLLNUVTRUTOFLWTHPWUNOUWRRSQQYYYWUOKKS[Z[WMNRUKFLS[XLSWRPOUULDPZXUQSPNMOSZ\VSS\[VLIHMUZWVSRRWWUWWZYTSTVWPKJLQUVMS[YRQJKJC@@HE9@RTNOINSTSTRVXTMJNQPQQNNOQNFIGENRVX[YUVTPHAHGLUVOJLSVSUPNMHNSTMMSVVTPLNXWOPTQRVWTMO`mke[RFCILKGCKJU\_WUY]]ZW]^ZZWVWVTSNK[ccXRRQOQRNKNOOPLPTIPWX[TJIQMKIJOURTRVWVNFMNQQMNQVYYVUSWVPRXTQSV[^^XUPOUUY^_YSOOOPS[YVOMPLNOORQTQQUZVRVNCA?NWRRTQOTSTVUHHSSOR__T3NTJPRVTQTZ^M(@VWY`ijUJHPPUQQX_dbZMMPPQMTZZ\[XVRRKNMKSSKMPRWXVUSLIJJJSSVTSQRVXSOJIMRWTVYZVOXWXY\XWWY[_`XNLRSOJNRTNQOORWZYX\ZUNWURRQUWWUSMNRSMHFJQQUSRNMVQGNQUTSXYRLNUWY__UKKOQUXVXYROOE9DNUSPW_[QLOMPVSQWQLLLPTYXUUjpg[POUOOSTTTQWY^_WVXTPMPPOKOTXWZZVY[XRQPOVUY^`]ZUWRNNOMMILX[XSRSNLPQREBBIUWZUTORTNOSSQQOGHKIOZ\WWVRU[UPVRJPRX^[XUTSKIPOSW\[YYUYVPHJF4MP=@US@AQYN@->DF<=[fh3R=Ymn%RJOVPJYUTTKY[YY\\_^beaULTYYRUVZ[SULQV[ab`^[VY__caZ\bafa\YUXUWOOPTV\b]UV][TMMG?CORQZ]ZYWSSPQSUQJJKKCA:=JW[XXY[^]XVWOSVOLMQVZYSHGGIKWQQXZ[]_ZTVYXSXZ^[ZRRRWY\^\Y\\SJBHKPQRPPUWXSNJHLCEQUKNPWUOKLPST^[RPIDEELPUPXTVPXVXNNOLNTTX[WVUT[]USRVXXVTOQNUYZ[UJSVPVXYWUWSWQMPQNSTVWSRPSUYXTQQXYXZZTXZ]\UXYSUZ[WSNLKMJSVUWSOPTSVTUVSRUUUTWSTX\Z[`dklj`RMQVPURLOTTY`\TVWRQTTSVTTSRUTTRUWWOOTWPKPMNRXVRLQRSRSWTMMSRPRTXSPMLKMPT[^[YXWZ\WZZZV[\^_]YX]]WNPTSQTVVSTSPLIJOOJINSSSUUROJTYTQKLLIKROMRQTLFLSUULGFSbdYLMVUQNKIGGPXPKRVTTPMKIIQVZ]ZVZ[ZTOU[YTMHKLKMKIMSRT^cbZMQNNTTUSNJMPTSTQQNJQVYSMOTQJINJKTXTLLPNOOSLOW\YYSSQSUWVWWWWTJIHKMXZPKRONEKNFDOWZUWYXWWTSWVQMPQUPMJLKR\[RNNOQVUUXXQLLKGFIHGJRWZPQSRNJHFJLLKNRPTXVTURKHGEKU`dc\SWUNKNQTSVVOIQTOPPSOJHLJPOPOPMPHHLQSSORNRTQPQOKJNPTXSKLMKILHGPUW[WRY_cc\TQFH@BCGF@CQSSSRYXWV\_\WW][PLMRW^hjf\YVTPNKHRQEACHMNIQV][PMPWZ^UJGPVPMGPOMOPMOIKSYVRNPRSTUUVOLLTVWXYYTPSWVTUQMPMMLMSXRNFKJCIFEINMILLLDDC?BAKQPJKLMNJKKPOPUUKHOZYPT`bTOUUJGOTJCKLQQ^_dXHFHS[^ed^b^WIMZ^dkeUXdfbBHSOOPQDU_\\\PBUWLba\OKNQUQFAHKQXZ\`]\^YPOQV[XSSSVTSXYUWYXTU[^WRQPSVRFNVRRPPUVSTRSZ_^UMPMHLOVYUNCERWY]]]aa^[XYZZTPLMMVWSLNTTRRPIDEJGNPV[ZRTVIPVVRVXNGDOY^a^XULJNOSQFITSORTSMTM@DHKQTMMSUNMMMTXWUUVXRLQWTQQUgrn`WSUQSSUWUV^c^QQVWQGMKPPQTWYVUQMPZ^^[OCIS]_YWVUTWWUQPQMLSWPJEANSUWSPOPOSWTUYXQJJQUNNRTLOPQPMLILOUTLFFIUXRWX[XUVRRNINSRLLQKNP]`]UNHM;:Tda]QOOVU[X[TZb]C/>FH1&clpdTdaPU\ZaUVUWQLWVQVZ[^baXVYa^ca\WUWWS[WRY]ZXWUTae^Y_imlg[YULQTX]]UUVURU_JMQQPLEDPPPQPLFEIMTWSOQOJKNY\]YVWYYWQIOUSPOTVTTTTTTXWQPQQPRTVXSNMPRTQSRTWRORYZYWUTY\[MPXUOMLKNYa_YX]^YRQPPVUTQOQMORRGMTXVRHFNQQTRSSVNDBSTWXVWQSVVS]cc[TWWUWVVTTPNKNQWTVZZWXZUPSUQSVUURQRVWZX][VTWVXZ[^]WSWXTRTWYX[ZTWVXY]a[TTVVW^^XRSTWSTTTRQPNSWZXWQSU\`_\^chjkg\TXOXKOLSYYZ\ZXOPUVXTXTWROPTV[YTVSVUUVUW[UWRXXWTPTSVPTSSTYYPEL^c]NKSSKMXYQGMWZXWTTY^ZWSUOSRY]^XQINTSOPVWSLILQMQRKGOVW\^^SLRUVQRSXTSSTOLLKOPOSVXNQOW``[QKPQQLNRQILX][[TMAGPXZRLWYWRU\`aZRQQLMJOLPYYX\\\ZUUPPOTYSKPPH@HMOPTQOPUVWSNTYXSLPQLLOUXSVUOQX^\WNOOKSNLNWXUHKQTVTRJKJKHKOPPUXWQLORQFIPSUSMQNEDQVSQUSJKKDELPRSUPRNRWWWUXSKHNOICMTVZYQOV[YSPRRKQTSLJKIMMIILTRHEMSQNSVUNSXWQOPTSPRTPNTTTOSWXVWPKHQTTTWYYTUSYWVVXVQTTLRTRRZ_\WRSWVTMLPMR[VLIQ[ba\[VPJD9EKILSRNJNHEJNOW[``_VQSXQHIMQZ]ZTUPGILFMPQPPRQUVPDHRVRQNMJPPSSPLINQOKMOTTVXVNTUWUJKOOKHOW]WLHMVQHOPUSUYVKMZ_]VXX_]UNEKUQSYUQHIMKDGEHMTXXUEPPONHBJMPRWUPCAIYac_OYt}xsODGHJOHGTRHV\LEW[WOBHGJX\[TKKIFOVb^XXVSPQRWZ\de`WUUSY[VXVSSVUTTVY]]UIJNIGGDEJHNLOQUSMLKHMMMOTVPJHNPNQMOVZ^^[UVUVNIEITZ\UOTVUSSNGGNRVUUZXTTWSSUSTYYVPNKOTTLQTQQSONOGHSQMQTMLSPMQWTXXLJTVH;AIMSZVW[YQHMQMLNRcutcOJIOOQRUY`acaWRUTONTTMMKMRUWWQJNUWURNMKP]Z\Z^YVRQORSRJCMTUMHFFDJOOUYXPKNINTPKTWRNNORNOIIMONKJIKPPKOOX[[XQTTXVYVXZKQVYH:AMJJORMUTO>-C^\VTD?4JZ^gf\EEB=SY`[GOWptu\hcSV[TUMMVe_dkbXPLT\ie\Y]\[db[Y\XUX^[YWWUVUWYX__aXagje[XTMQUVZ^VV\]UW[KQOED@EKJJKRNONNMRSUSTOILPQVY\YUTW^ZUVUUMNU[[QISYZWUSOQNHOSTPKKLIR[ZRRTVSRQRTT[YUV\YNDKOPJLLPXY]ZZ[]TNLMMPNNPNNRWXXPQSLRQOKOQVTQRTQQSNLRWXXYYWLQRTTXTVWZXWTTRWWWWVUXVROXUVVVVNMSSRRWVSMWRYYWSUWTXVTWVVYXXTWUXVXTUXYUURQVXZTTUTVUV[[XXVWVXVONVWWVTV[XTRUSVUYagkhcc^WVPQRTPSXWUX]^VTW\[YTQQVTWV\ZXUYYXXWTOXXZUXSY[QLOQTZ^\XSWNLTbibRFNOLQX[SKP\db[XOPZ[\^a`[UU]WVXUJNNOOLMLJMQROOOOQX[QMQSUQNNPQNNNTXYXWRMMNPNLOPSXVQSUWTQOPQRMRTPOWVSYYOAELRWYRONLSTZ]]OGTUMMW[YTRSRPQXVVUVSLOOOQSJDLLLJIFFLMORVRWZYTOIEKRTPOVWVXYVQS[\SOTRRUQJQUUNJHC>EJJHGIJJMPOLU_`VLOPJINLQSPQQOMQRRSRUJ@LSLDJOQORLMNOWZRROMKTXUQOORSVVQPU[[YIGQSQSOKJFKQOURSUXRMONLMRUJDOUNLVTPPPPUSLMTYYW[VSOMONMNTZ`][VTUWPW[YOIKNVTPQTSSPQRPTVMHLMRVTMKNS[\Z\YNJGA=DFJOQQNJGAAHNQYYWPKIRTSJIJIKNUX]\YWQQRVPMHFJS[\VNMOLGOUVKMSRLBBEQ[ZPMOSSWRHISUSG=DLOKO\`ZPFLPQNMOLJOQQLDPWVTPMSYUNFBNQVUMKNJKLLDM^TPNFAFLSTVLAMMR\]^]XPQOTU]hoseab^Z]c\X]YTNLKRZ\`cZQLE>HOPSSQT[YVONHLRPOJMPZ[^\\ZVL@BOV[[_ZVPNKJJRSMRWXQMSQHLNLIHPRLNVSPVZ\YZWW\^XTWZSFEGQSSUXVTQKOVUTVYURTRSWYZYVKMTVPQW``[QNKTUOLJJIMUUiutfYRJCHLQQTX[YXSRRPPT]ZTHNTVVYWILNPPPSOONRWZV]_`[TQRUTNMLQUTKIMLHPTWRUUIEIKRVOFRYPFBVWPKJGGHLQTTJIOOORWUJKNPKADJKSY[R\[RHEMKII??QacWLW]_^]WVWUY]`fbHAPJZdqqbSLOcjiQmTZebXUMY[T`i_TNQKY]`RNXWTX\\XYWW\_]\VXVW[_ZWY_db^_a`_ZWUYVVWX[WZZYUZ]IOUVRPGGFAELKIJSRMRSVTLCJSTONV][WUWWMQWZYQQV[VTW]ZUVXXOKGLUSQJDGLSV[TMOOOPNUYVVSJIUYWRPOQQLKKOVZ[Z_ZPORMQRNIMTUVX[VQXYQMQPNQTXWNRSSZ^ZP[]XUWVWQSSVTLSVUWVPQRUUXVSWSWTQVXVWSUOQUTQPNNQOKWNVXVUQSWRUTWRRWTPSWXVKNTWXZVVPPXXVLMOVSWTVUWRXUUWUOXXWVXXWXRNNTVT^hopldbc_WUTZURTXSSXYXWQTTWWWYSNTV\^XUVZ\WVTOQTUXTTWVTWOQSRVWWWROX\\_cd[QGQSUT]]USV`ed[VRMLRVWUZ\\YYSOWVQTWUQOJLQSSPNSUZZZUJIMFFLPSVVROPUVXVZVRNOQRPKHSVRKKU[ZQMSUWRVVVTUJCQTOOUXWTOPPHFNVSXWSJQXVS]^WOLSQQROMMRVWHDFKQVOMZ[ULJJKTTTUURSMIEGJOQSNOWWXWSPTVWVSSTUYXSKMUUQNGLPLHHHJLOOQSVST``XPOKGECEHMSTSNQNOMOQTMGQXUHHLLPRROHCJLIDPPUZ\YTTSRQVRNKJISSOMSNIMKGHGQWRVWTSWRLLKGCKOH=HLONUTOUQNSNIKNOWOQUWSSQRRUPTUTUUSURKOTWVHJQYZUNKKHGJOQWWQFDFOWZXUMV`a_a]TPMIFEC?DLPONNTRNTZ[YSQMLMNOMGKORPKU[`_ZUY[XOPPLORW\^XVTNLNVYROPPOCAELVZWOQQNMMKNSUOHCCMUURTWQDFHMTVSQPXUQSY`ji`ZccWUZXTUUMMOONPRWZ[WTPFFMVXXVTUTOHDDPZYSOQVZ[TXWXSPNJQTUYYXOPKLIOVXSIOQQSUSMMRQLOMIJIJIPQTV[[XZ]_YRTZWPPSZYWWUQUXUWVTRV]\\XONRX\UPKNVZYMU\b_\MLSVUXVPLMUQa{{ncVQHPY\Z\[[XJIOQTYYYVQJPSWZXQXXMJSSSSTPLLLTZZSLNQRQPUXY[[VRUSRLORSUTKHMMNOLIUWRMQQTLHHJINRQROHEJTTQTSTTTOOMNHGEKLKNYTUWW]_PI:;Ub^`_WTYUKHXZ_cij`[SQEM\knbDDX<[bd[JRekaRO^SIeb[YUSVV]XTU\]YZ`jhVTVVPQYUWTPV[]X\aa_YYVV\]VUZ_^XVWXVUYUV[]NQVVPMNMGHJPLKRVRMRYWKCEQZZSNSVUWWRJMRX[WNSYXSUTPHOZXNCGOXZUQOPQRUYTRNQWTQWVOKHHFNZZXUY^WNJLV[WUUUVOKPQIOPQQOTUPOTPSSMKIMPNMPNMWTV]`]Z^b^VY[TRUTQQJOSVTSSUSRTXUVRUWWQOWSWVQOTSTUTTVMSUUUTUURTPJOW[[TSTSTXW\[UUUQVYVWOXPYVRXNUTQNPUYUTXYXSRSTVUWXYVUYX_VVQZceZ\aed[WSVWVXVVNVTTWUQWVTVXXTSSZUVSWYXWUSSSSKMWXUTSXUOSTPOMPLU]_cb_[XOLVWWYZUOPTX[[WTPQKNNSSOOSUSUZYURVXWSQNVXYUMHHWXZWPKSURV[\YYTOKJKGIRPMNQRMPMGKUYSQSZa`VOSZXXXVLKLKLNHFLTVQNNPXXSQNMCEOQSVSTZ[UUSVSWX[SIHSTOFEEKMMRS[XQNMJNSUVROOPRNNSPMLGQTORVUQNONLTZYVUYWPHMRVSSTUUROLKPRV^c_UOTWQNJLKPNDFKPNF@HHEJORQRJCPQLLRVTPSOIEFIIGPXWTTPTTOKNVWOMIGJIPVWTRQMQPRWTRTXQVTPLLNQLIKFDMVWPHNRTQQOKFDIORMKPUTNFHUWRKLPRVXXSNMV_^VOOTUOHFQWQRQRLHFHC<ACFKNNNJHPNHCGIICBILOOINRX^XJC?IGJZejjo[HOWUGHINGMW^\D5+9TTSJ?EKWZWTHFMUSVS[YVNMKSZXTNRRTTTRKHKSVQLRYUSLIKQNHIMLLPMLKC:DKLLSVQMLNQNNQYWMPOLOSMMSPHLNORRUUSWZXIHKLNI5CQUO@FX]\PJMNTUSP]ips\MOPNCJY\IGXb]J'4JQIKOORTSSWW[\TMIKGGHLONQPPOWZSIKZYXUVUQK?MTUMLMPRUQOUTSOOONSWZWSRRQNNOLNRSSLMMPTWXVSVW[TNTWWXQOVTRMTWQQMFBQUTIJMSRSVVSVVWVVUTTRIV[XQITWSMJRMLQQQSSUKJRXRGFGLMLIXZPQUUVNNJKPX\\ZTX\ZOQIOdrpkb[TYWPPTNTcf_XOKNTQSZWUTSRSQTUUTZ^[ZUNIMMPZ^][XQINHELMKKPTPLLIGMISYWQIO[ZXWYYUQOMSXTIC@HPPPSMB@HKGIGMTTJHQTVXVZ[WTPUSOTQLEJBLVYM"3JTWWZ^]YVilbFX]aedWQd_W`\2OS.b\WW\VLSWOKNJOP\`ZQZ`XW\daUNXTT^e`^_c`Z\[[VTX^VWWVX`\][XSTUYW\[[Z]\XWMRWVRTRNKOMNJJSTNISXVRVVUJNQMOTYXMKPVRRRONPPKEPSQQOLSYXPUWUVVOOSRPNOMOOMQUSVUISTOGOPTXVRQNUVWXY[OHMPOMMQWZXUSROKLQXXXXOLPRUZ[YWXYWWTXVMOZ[UWQSVSVUXXWVTVUVTVWWXVTVVQWVWXWYUSSTVUSTWWVWWQXWXWUUTUTQRROQOMRWWVYYVVUXVQRU\XSQPUVX\`WUTSNWVUQXRUTXVVUURRY\UUV_dccbedeXTLUYKTWUUXWY_[VRVXWUXWVWXWUVSVYWTWT\[VXRUXSWTQUVUXZ[WUTROSWSLHJU[WQPPLMILW[WPTXTHHVYYVPHGMSPPOTXXRR\aYRWTPTXWVSQPPQMPWZ[WLIINTOJJMQRNSVRPQRRQUQFFYdd\TVSWXQPUQMJKNRROJLLKNJECNXXIHLPNMVWWYZYZUPNNOJHRXWSPPQPQVXXVRQRVRPKJNOROINPPKLSMHHONIBJOQQNHEMRVVSMNRPRTXWPUZ\TLTXPPPTRTTVWQPMNMEPSUQVNMQTSQUZXRMPQUPGAII?IPOJQSPMHKOY[YSPLNMTTPONJBHKOUXZVKCKNNQUUVVMMMPTNGDCFKNJ@HOPNMMKGDHTYNLUWXULIC=DU[VTZ[SNFCU\]WV\YUX]YTX[ZUUL@DSXUKIQOKFKNLU^fif\WVZVOMLMJHGHLQJCGHEJVXRMSTSWWPQPMMPNJQWYZYXSMJA?EJMSUUSJEGLRYX[RMGADHLLMPX]XXVOKEOSSPQRROGDJOMJDF>DIKOLDLUSQTXUQIJMMHFKRQKJEENVWOILMRPJKMPPLPVSLGKMONIJROMMKU[VLE=AHPLANWbf\\daa_\abX@HZZF;NY`IPUMIKILFEKMJQYab^W^fgcXUOD>FLKPORZ[URWUSMRVXYUMPPMHMLBDGJQUXYUQNMMJKGILGHJJRXYYVUOMKIHLLJNXXXUTSURTTSQKHKICKRPLLPJFGIFJFDNX]YWSMDADIJKLLQQOPLKMPWUPQQOIEINKHINOPKJIDMLGPQLOOLSVPIADINPMKTMPROWcaggigd]TCEH<:SZXPA_\LFBBGO`fa^_^^[WVVOLOSVXWU[\Y`dbdc^VHNRTVPNLORUUUOVXUPRSQPLJMQWYUSXWYYXQNPQJHIQX[^]ZXSWTU\_\`bZXRQX_XNQSUQOVWTNFEEMNW]YSVWRPNNPWWULTXNFQPUXUOJVXTRQSSMFENVROSXUYZTHKSVSNJBEHMOPOPUY^XPeprijplaVLFQUSNMQRSW[UKINUWZXROW_deaZPILONGLSUUZZUMNPQUUQKV]\XUW[XQNOSQNTWQQRVVUQVWUVYVWX^[TFR[YVSSWYZWWOCFTVSJNTZPJHJLGSSVVQVWSNQYVRZ`]VVa`XUS@JWc\W_ZWID8HRQJ@:64Tc_PWSSWagaXVUXNWOPRWWURT]]\UJQVUX^b[_`YUWXVYZ[UX[^\c]YWZ]a`XUUWZ\XWVWUZ]^THGBIORNLFAFSURNKHGLKS\^ZUPQQNVTMNSRTUMKNOPG@=EMY\[ZXVROOEGQZ[WOQUSTY`]RSXUQV\XLFLSVUSWW^b^URTOLSTTTVTTWZVLQUUVQSYXQLNVZZZ`^UV[[ZXVRUUS\XSWWTURSUSSUUUVWRUVSOJMUUVWWTPPSUTNNOSSVVOPUTPNLOUXSOSTUUUY\WTUTWXTS[[WTWXSSXTU\]ZY_]YWVVWYWQTVW]WWV\[\\VSRU`ox{t`UUWRNRPRPSWYZVLMWUTV]_YVUY_^XZZYTSTVUZYVTORPIQZ\VWTSQQRPLQ\WVTRSV[[\\WOJOTXVSNOOSTLO\`_WQLKQOIOPOZUPX^dbcfdZWTLLNJLSW[\YSSXYZWWUVPOQPRSLKJMNOKJMQTRWbe[ROFOXYY[ZSQLSYWNHIQRQTVRVTPNNNROQUTROMV`^WVURSXUSQNNOHNVWVMMKDKUUMJUNNPMKNQSSQKIMNMPNQWRIGFJKMIGLE@BKOOOPRTUVY\WTQR[a]MFHIPUTPRSQGFLSWTTUVURQOPPPPMA;IVTMJKQPFHLLLJT\]WTSQTSMIILLQTXZXRLGGMSSVXRGGHSSMPNQTSQQQQJNMONMPMHLKLEGPSOKPMDELJTSIGIRPJJMIFGLOOPRUSUTWYVTSRNTRVWSKIOOKJMNPLPWVT]b`]ZZX_^YTUUPMMJIIU^]WUUXZY\_[YRLGLNHJNQPSQYZ[__\UTSOSQFDJLNNY_[TWXQQTTRVXUWWYXY\a_YTRW[UOTSPOSOJLSRNKKIOPLORXZVOHA@FIKD@DJONQXUOONJPWYWTROQUMHOU]VMOSTPKNJLVZOJOUTQQVXVVTQEFIHQSYZ^ed`fbXLRE6DIQJFKQMOPQSSQTPMFMSSQWYOBD>CENUVUONX[\]WQNOTPFCHQMMSVSJHSRRLKORIGHJOUVTQRTVRNRWYSMKQY[ZYVRXZYPNVTUZYTQFIMLMPNNQSTTTTPHKPPKMHQWWRY]^]]_^[[WQNMMMMLLRXZZXXXQMDKNW]UVUUQSSRVVSLLJF>5ENMFIRUYSTdsrlfkjbWJJTYWNHJIMOQWYVUUZZSUXY\ade]UQNRRUPTSOPTRQORTPSPPSYYUSSVUMJPTRKLVWSW[ZRJPWVTPJMTU[YRMURPRSQV\]^[RNOWWRMSNJEHNMNGHTWTZXLN_\U;ESTPLJONOMHMRRRUVUW[ZWOOPGDIONROTUVY\[]ec[Y][TUWUSSTQKLRRWWVTY[``ZPNLGR]\ZUVWUVX[\Y\\UOHNWVLLRSLIZgf^XYWUTRILMUYYUSR[]\USJSXXWZVVYTOIPVRQUSWSROIEPVROQMKPONMIGCJKIQPHKJJNX\YWWVSPMGHQVUOW[YTIFHKW[YMIKSY[UZXQYRISWQONGPR[\UT\UIMPRKSa^XOQC?IWZOEGOONQTSILWPUSNGEMYWRILQUWYWRTTYRHLTVQIRQMLEMGGJHLLINRPQQUWQMLOJGOWYXWOOY^ZVSPSYSMQVWPTYXVSMQTTURQRKD?IPNLOOMGEJLQQMORU[YVSTRIDOTVTRPWZZVMLU\]WVSIJUZ\aTQTZTQLJRVWOUUSUSSVTWYVWX]\SSVVUQSRUSSVUTWXXUONQPTTVQS]ZSSUWVPVY[WYX[\XXVQRTVSTWYYTXef]WYWUSNSNLQMIPVTURRVUXb_Z[_`ad`WWXLKNVUWYXWWVUVTTX^]XKOUWRWX\WSNSTXVVWWWMTXZWTVS\`YPP\_VKIPWXSJJLQRPY\[VPKKNURLNTYXYURSX[\[[VNKHOUUTVOT^cebZKLQMHIT\[YOGKOLPQPNHKPTUUWVPOSMKUSNQVYVRIAESTYWKIMNRNJJMOOONWUKPUROOOLPUWXVQLLHITUNBJPPMIGFJNSUUPPLIJV][VQPMLLTTZ_a[URSWZZTNRQQLLQQMNNQJDDGGHJCCJLQUWVUUQTWTPPLLJQTQSTMGFEJJJQZZTMOPOJKNOLKMRTQEEMKGIKMLIMKDJUUOTXZPPRRNFLRMFQ[ZUIGPPKHLKJITYZVQMOTWTMGNUTQSVOSZ]ZSOQPNKNQQMLPTNOGDBEKLIDIV]UQMKMMNLRWOIHORXWPQPNMOMLHJRUONOX`]^cd[SOVQNQTQRSRRTSSX_`YNXZZUNIPUUZ_ZQTUSOY__ULORPJOUSMLPRRNYfmi^XWRRPNKPUUPMILQRRSQUTX[XXZWRONJNSPSZX[YWTG?NUPOQNPOKHINHJIEIPMEMNJRVWTQOUTJMKEKPUWZYXNLKLW]VSPFGPYYQDLLSL@KYRVPGWSQTMDCMONPKGR`ga\UPA3FLGJSZTKQVMNQTRNUNGEQWYLQW\UOPPJNVWRIHHMMMNNLTWUSQVRQTTONQONQSOLJEEELVUQQLGSX]_WUUROKQUTMTVSQMKSVSJPQMIKKNOLKMHBJJJVYZW[YPOUY\\XSIGLQRWVTPPOTRRWYWSW[[VKHLPNFFLKQQTRSRLQSQSTNGFNNNTbjd]ZYTWZZ[WRMGJPQYTONNU[[[\YHJRU`gh]OKSTRIIINKKNQNOKNMMQRQOOPQSTQMKOPQRWTWUUZ]UPMVXXQFFIQPQTRLMOUXUJFGLVYVQZ\XUSXVPJOOSRGJSRX_VKKJTTKLQTRU\[E:Q]YTVLH^cZQTY]_cjbJBVRE:\c_JMKUPY`fgi]UXZ[WURWa]ZUQOSWSPSY^Z]a^YTVTYRSWX]YUTVW\_]WZa_ZXWUXXY`ZTQQMKSRHGLMKMIHMINYZTKJMUZWRRY[VRTYYQSXWUUXTLJKGD69T_b]WWWWXY]^WPQUYZYXW]a_[TQX]_[[baUJTWPQSSPLQTSKIEJSQPPQNHPQOEHRSNPSSWWPMTWVWUNOOORUUWVWYWSPQPSSWWRTVVTVRXVUVVT[^XMLUSTWYUTUXTVRUUWRTQRORUTMUV[WSVUSTYVXSWV[XXSPNPOSXTY\[\fe][WUSVRLJYOQSU^_UQOTVY^YVW]bggeVONPWLW[\\ZYVRVWRWT]][VTXUQVSUURPXUUTXVUWOLRUVRMUZWUSRW\WTUXXZ\ZWTVTQOYXTQNRTZ^XOLNPTTLNXYVY][SMNMQORQMKS]chhc\WOEAJTPSSNRRNPQLHAGHLVYWSHHLNKMMPSUZZTMJIMONNICHMJKKRSROLMUWSSWWTURPQSSRQKMNILTYUJCF@CQUVXWWXWUUUTPT]YQPXXLSWXUUOQSVYUPSVUU]YSPRVSRUTHCEGGNLACDOQNJNTSSTSSQNOPJQLFKQGDEINQPSWVQPNMPKCIRTPNQTTRNHAFLORSXVUIHOPRYYXXUUSMFPWRJPUUQJEGIGHKNVXXUX\^]WNTWVNHNSTTOHJTX\WSPLPNONJHIKUVCBINFADV\`Z[VJJONGJPPSSRUSSQTVVXXWSZ]UKJLLQOFFLNOJJPSNQUYYVTTNIOQMOPLNNOPPKGHQUQNOQUXYSHFGLOILSQPSX[^`^QIIU^_]WSNPWVSTQOORTPPORVQRSSVUWXZSIOUUSTRIJLHLTVWWYTLJLJKfpr`UQOW^[UUQMDCNVYTJIPTWSZ`]RRYZ^ege[UNQURIGLMIPPQQQUTRQTTQQROW\VJIPMNTVY[WRX^]SPPNRRLKNOOOGLPH@JOMIKKU^YVOKUST[]VB:KTLPTOE6BOUQE@GNVQKSXV[TH>IRV_fcXFPPKM\[U`deUD,@1EdYWLXUKVXknoj[QYVWTMMKSUVWYUVUWVUV\\Z\`a^XQYSXTRSWV[\[YWX`cd^VYVYZYXRLQWMCIKGMNNLMLLSLESXTPPSXWVTVZXVURVXSSUQTUXULMNLHBCU``[WXYYXRMUZXUWTVTUSVWWZTKNW[\Z]`YRWUOMTXUTUUKMTRMSPPNMKFGRPOQRNIMSQSWUSVSPPTQNQPKKQSVX[ZXVUOUQUPMQX[VPOXTURUXWWWSSSTXUWRKUUUVUURUWTWTUTOMLRVY\ZZSSTWSUJWSWUSWTQQPXXWXYTT\^`\TLXTUTTWVVVX][TMNVW\[TW`a`]gg]QXQVUVWYTXWTTZXXU\\]ZWXTYXWURRPRTYUWWRVUWVRTUVRVVVWVTPRVXVWUW]]UQSZSOXXRMTVXWYXTUTQQRONQROTXUOLFJJMSSLEFLWajkhe`SKKORPTWSQSWUVULIMMVVPPLKSTKABLTTWWSTQPQKDEJNOSXSUWWUSNKQWVRSTOPPQUXRRNCHOPOUZ^YMDAJQRWUTNPSXSRVXUVWU[`\TLNTVYTPNRWWPRXXTZZVOTXWSUTIHMPQVTTRMMQONQUPLNPW\\[XQMPMSXUSMLLOSRLJRTTWWQQRWUKHNRVYYOJRTUTVWYUMKGDPZWOTTUYRJIQNLSQHDHHLJCCLVY[VSX\]]\[UOQSRVUONGGOLFGSXYUTTONIOONMURLIMRUSMMNOKKMOOPNLKKMSRPLOU[a^WSURKNQWYURJHXcf^WUUPEGQTW[ZTNMMMGNSRV[ZTJKSVVUWSPSPQRSUWZ\\c`cg[OKMGDJOSV\]_ZQKGGQPILNGIOJJOVOKKKKLLQV\[SBBJOJDARTNQV^\SSROS^_`ZYXZ[[YRQRSSSNPONQWXSMORSJLMEDNRQONPDEIGKOSNMRTPIGKKSlpl]SOU]ZQLQXUQSZZUOOUUOORVPHPVXYY^]WQPUZSPLNPLMIIPRPOPQQOLHGJQXXOMSRPRSSWWVXZ]WSPJHIJOVTOMJQYWHJIMLNV\b^SKHW]ZXWQJQVURZ[TNLFJIEHFKR\TPPOGCLIEOVX`\TVQNQRY\55?ZbT$=DA&IQTSTMUN\keXSSYQRLSYYX[\e`_UKUTTYUXcikhb[YUYZVYZZUW\^ZWU`c`[YVWWXXUUUQUURJFKOTRINQQPUSRSURUVXULEMUTSUSOLOOTOINSTQPRPPKFLQXZYZ]\YXXNQTV\[VOUSMNKQXXKCPWXTONQOUUUW[^YPQQRX][VNINPOLHKTVYZXVRUUTPNPSNJPMTQHDENSVSTSQTYWVYVTVUQNRYZTTRPSUXYUTTUSRTTVRQSVUWY\UTVSRVTSUSVQTVWSRWXWUXUVTSSTUWYWXXUX\ZWTSWZ`caVUW\TWTWTTRW\\WVSST[XRXcgaX\b]SKUXWSSTQLSWUZ[ZVUYWVOMPXWWQINRSW\bZXTUXXVVTVVWTTTXYVOQRVYWTSU[XQRWWXZ\VNNQNOOUWWZVVXQQPROMLILNKLOOSRIFJOPTWZ_a_\QNUUURPQRTURNWRPLPXVPSQPUUOCFLPLQOPNRSQSQMNUVXY]XWVQJKNTTLOTWWTW[YTSUXUTOKHRX]YNLIOLKMOFLVTPOQQTUUQWYVWXUKNVVX[SMXZXVVRQTPGIKUSOLJKLMPSWUTPMPTWSVWULPRVW[[VPROPMORSVOHHMKGFPSQWUMU[_YMJMKNRRSRUYUOLONKRVTKITUNTRU]]RNRUSVWQIHDIKHCPUUUTTUSNRXYSNMJPYWSPGGNNKLSUPNNOQNSRRQMJNIHINSXYXQOPNLFGHJMPQSRQQRUZ`d]^[ZYXSQTLKH7P`_[VUXWOJMOORPOMMPKGNTSSSTVSORVWQUWQLNMQSUSX^cgf`_YSSLHIEFSVVSRSPGBNVVYUUSQQLGHK@?MRRMMHJNPOSQRYZVLNOPKOSN@GR]_]RKQRMIGMNFFNTRRLPOKMMPLFBEOSQQSVVQTYUQTQLJJLLNOU\]\`gjcZG9HQSMFJLMQPI@MRMG4,ASXTIJMQJSPW\[SSMMN]ZI?KTJIKOMHGJSTQPPSTPR[WOMW\]XSF>LQUVXZRVYSNSNMLMQJ@BR^baGGPLC6=FT]chgRJ\PRYQ=N?(DTU\X6FQMXccaXAAPJAWXQNA7ETNT[PMHCE0M`cf_Sbk]WKWVQXUUSSLSST\ca]X[[VUWbnrl\XQVQPXUYZXVSPSY]^]XWXYVYVVY^]YWSPMNNILUWUUROPSRWTJJLMPSWQELPY]^XTNMOV\ZQJFENQOKLRVZWWYTPW`a\QIXa[USTNNNKIGTWTPQUZZUONGFORQU[^^XQNKJTXYVQQPQOOSSQOPGMUUXZX[WOKIT^^aa]VTUVRORMYZZXKOTSSY^XRRVXXYZVQMLQXXSRVVUWXUMRTTVXSWTQQTPQURLMVRRRUTYYYXUVWUXWUSSOUX[XXZ_gjc_XSOLOLVXTVXVYWVXXVPPNXV[\`]U\`YTLLRLQUXXX[XUVTTWWUTVY\^_XXVQORWWTTKPTVSUVVQUVWVWVSUULNV^^[ZZWOOVQNSTOKPZ_bYUZXZ`^WWSSVWUSSWY^aYPQSUUVVXXXQNMRXVSV]_WPW[PNTWTOOZYPMKQNOQMHRXZWNKEJTTVYTLJKLNQPM@>IUXTUUWRPSRURTWXM@@JQRLQQMLQUUPWYYXUXUWTRPLNX]]URNMQRQWWRMN\]YUIDMWTVPMLOQOJIJTTORSRNOSSMJGFGJOSSTUWROJPTUPPVSLPVVRNONOSUONLVXWLKOY[\^[WROSUSTPKMY]XTVVTMJKQRRSUVTTWUUVZTMHHMMNUQOW[ZPQOPTUWPMQRRTPLOUOMJJPWSKKNMNNPSUWQPTWPQNQNPQMNPRUJKS[\VLOPQSUSQRNOVXQYdc`ejhaXVTT]bb^\SOINMLIIFLRUUJNQOUWOJLMMQPNUVTPQNNPOPTRPQSWbd_WQF>DPOIKKBEKHDJPQRSLOPTNKKSYYXRKGJSVUNEEGLNNTUQONNRWUVSQPV[\SMMPWVWZXXYUTOMJEJNQNJHHFILQORUSTWQICHMLJE9@FOPPMMQWVUXSSSVUWWVPMT\caWPROK:DKMF=FMVY^bUKLP_aXRWYSGLWVVUPIKPU[]VPUSPPMNNWQGEIOVSMKLOIFUUSTPSSVVQRTRUYXNOSSQRTX\ZWUUXXUNSX^WKHOQU[\WVUUUPLEJLFKVWTOOPMPMNQTSPEJIEMSSSSTTW^[VJ>CHGLOPPRUTVTQRYXSVZTPWXPONTUW[ZWRISVPLSUURQTQQSQNLT_]^b`^^ZTNTU[_^[[\ZTTSPJKLMJJJCRYXX\ZUTPNMOMPQTWYWYVIGOSSQY]UJKKQXXSTUQUXQSZYNM[]]YVQHFTXXYYX\_\VYTOQSMGGHQONJIJPQTV`eec^VLBK]]MCMYUIJHCGYZQVYPXQUXUJMW_^VDSPEI]QB2:B/6<SRNfspYaqv]\a`NXTYVVZcg`ZZVPXXZgjg_WSVPTSWYVSRXTNXcgcYVUXTWUUY[Y[XUSNIGEITTRTWTMJNPPMQRQIKMMONTX`___XNIMTSLLKKPTSNGKTWSVUUX]_``XRX]]VSSRSNIDEJLRRMPTXVURJGPPIKPQVYVSHBR\\UOPQPRUZSLJG>HQZ^WT[_YXRNX]^_\SQUVYVVSKVWVUPOQSQZ\ZRRSTQTVWVTPSRTKKXVUTTTQLTUWSSTVVLVWUPNJNTRVUMWY[TWWXVXRVUROMXX[YVUVZ\UWUTOOMMVYUUXVXWXVWXWZ]^[SU\`[]`[UJJTPPUWSUXWURTWTVWUUY_^`YWQPNTSWTRRTVUUUTUSSTRTWXUUTRW[WW\[XSVYYYVSQHCQ[YPS[Z\[WRPRPPU\XSPOWZWUX[\[VZ`dc_TKLIIJQ[[LQdjd\]\ZVSRSQIKPQUVYSRWVOKJFMUWUOQVURMORVWUPQTVQTY[ZVPKJNPSRH@CLPOMJJLUXVPMU]^\\[\X[VROGT^\VMNPPRTOQVSJLZZXUQSVYSPLAERTNLQPRXXTVZXRSOIEFLQOLMIHKIJJNNQMMMSMKPRPIILOPPRSRST[ZWNMRV\]`[YYVRPUWMHSWW\^][TPKHFMSSUSTTVSSSRQNHLNMPRLS[WQLKMUVWNOVUPSWSUUTRQHBKNG?EJLOQTSNGIQSSSFOPMOUURKOQQ[^YTOIOSRLLPRV[SJHNPUdmpgZUUTWbb\RMJMX[VRTTNNWXQHJMSUHANQORRMPRURPLKRVTVWTNAI[fe`SOMSRIDFMOOPRNKRSQKIFGOQLNS[\]\YSLNRMGINOKIAFNNMPSUQRTSPLLLNPQROONLU[^_YSPQPCDOWXSROMLTTMHCGOUSMFFORQGD?HNWRMJID?O^\TKGKPRNMHISUK?COVTUNAGNHU[[MPI@1Tcb[PW_`VHJJJJLJKKSQUXXVSQNITOHFIHB9EOY]QYXPCIUVTXOQSGDIPOOR\^^YVLRWZW\`bYONJNKOQKQOLEPVTNRQLPRUOJMSUNDPYVUWSQMQTZYQQVXXZUOMRMGFRSSRRNOTRRSDIW[_caYTSMT[ZTPNNT^]QNU\^YUWWMKUTW[XSUXQOOUVKJNMFPWUTVSMKFPSRSSPFEISMKOLNOVVNEM`krvsd\TQSKOVXPFMRUQUZXQMLNV[\UUYZSTSLMLTNPVTU[ZTQV]\UWWVSQRMHPXWNBHPWVVWTWWVSSSX[RSNISWUJJMLMTY[[XTQROJB?BKQPJHGBDIFCPW]YQTZ][T_a\SRPOWXNSb^[cheXQ:7FNRQC:RJ7EVTAXj`(8JYRTLWTc_^ZUTKKVQORSTWYVMMS[\]XXUbdaXUZUOWXWXPRUWTSXYWPOXW]XLX[XX^aa]WWXROLMT[ZRKMKJGGIBENPNMMMPMHKNSOPPLLNLONLORPNV[VORNMQWYSPTWXPOKILU_ab\WHJMRYZXTQPUZRIQOGPNOXYJJRVTZ_VOSYUSRPKJPRWROVOPY[[ZX[[VYZY`^YLPYXW[[KKWWVUVXWVRTLMPNRXWUUOT[[WTUZXTVTTRSSWUUUVURNTUQUSOXXSTSTSSVPQQQQTVSRUVUTSTRX`_\XXURVXSUUWUUWSVXVWVUSWRKOQSUPNU[flaNKPQPQXURXWVOJLTTUU[b`WUPRWTXZ]VUTWVMPSQU]a\TTTSSJJKNUSZ]_[ZWUXUSTQTV]`\YY\\\ZVQPMOW\]VVSQQOFFKSUWZ^[SRS[[WRSRQPNQOUSTRNRY\^\UPKKHHOONKEEPNNRQLMJMPMDNY`]WTUV\XUTTPJJRQELX\\URPPPQPJPTVPRSVTLQUUTOQTYX[WPMUWZYRQMJEKVYVPNPNZXZ[YLBHPWVNLORQJLQRQPNNPRUXZ\XRRTQV[\YRSUPOMNKFHBIKKQZWUX_][[XXZURTSSXUSPQRTUY[WNDJPSVWRLTPKNRWWURLKOOQWWOPNKMMKNMGOQOPRTTQLFGFKOPNKHOLNRUPRWUOMJFKQLHBFRUMFFKLOSXSOQORQPNQWVSRTVRJPROHJHDIPUVYWUTU[b_]fjc^^a\Y\YSRKNQVYVQHF?GMPNJLUVNDIRXYSOPPRXZWQSROOLP]iidWOLPOGAJMMKOMPNNLMHLVVUPHFFJIIS\\UORQOWYSTQOOPQSMOJBDHMQUVYVRRWTONRVYTJHQRPPMJQVXXVURNSVWUTPKFDLKOPQURIEIT\ZXZVKO[db\YX]a[RJNRER^UNCIOZ][GEB1;IMSQPSUJJ[\FC_VU[_Z\ZTMJIMSPJ@;KVWUONPWXV[_c^UQPQTSUMJKKFT[ZXWTJPW\XSLUXNMPVUTPOUUUPMQMPVVVZ[TMLRQRVVZXQINQTXXQNPQX^^YQRVVVYTTVSQQMOMOU[XTY_UMUUORTQVSQPMORKILJMTVVVSRSTQMQVUSKGOPNUWWWRTUWVRNS_mz}ymcZVVQTSIIJJMLO^bYF@QYYWSQYXWSTRIELTX[SOTPJJQXXPSZVRLPPJLMOMRU[VX]_[ZWQPMMNPRSTTTW[ZTUQRVXTSVWXUUQMEAHRTOQU^`^OFHPUVWX\ZSIT]MIXTPYWG?SQBO\WUNIVRKPOLKMRSOVXVSOOTRNMMJJGDPQQUSHGHIINQRPNPUTURMMTSNRUTNMOORPNJOSTVQROPOOJFFCDKQQSNMJCGHINRYWZZXQOW\ggb\[^\WPTQLIIMOQLF<=JRTYYUIPTTQNFKSZ_b^UMRXWPJMQNKPQFHKHNJIIIIF@CKMLSZYNPUWSUYYSRVYSMMQVSTVUNIS\\VKCEMSXRLLRJGPQVXSQUWWPNXWNSRNLQSXTRKDGIMLIIKPOLQQQNOMQ\e_[STSSTOKSWREHKNQPTRMRYSAAICKKOVY]R@U^\Cdc`YTINPUTLMX[SJMRXUNNMOIHOSTQQRVWRCDJLSWQSUVVVYY\\WRRTVVQQPUWURTUUTMNPKDHJONMLSUUVWQQRQQV]]]WVVSLNSPGJQQTUYZ^\VOIGIRTM=GQXZVVVRORTXZZQPUZUPQQIELSPFNRQRQRPSY\WURHGFGNRSTRQNMJQMIIYmzufPISXUJISSPNMIMTWYYXY]^ZWTRTZa`Z[VLKRXYRIGGOMMOTPROHJMNPVSNMTUWXZZQIJMQTUWZXSY][SV_XMSZXOFMVWTOORX\THHFRXXSNDHLT\WLCNTZXUT]``^REHNAQ]XWXRYcfgc`QOSYUBJ?BMPKNQQW[TV\YPMPSSKMPMCCIPURLGLU`cbTKMUSLNSVQORLA=ED?<9?FDKMQRMHMMOLRZ``]XROOTUUSNJRTWZZULOVYTOIINNTPONLJFMNMSQOU[SJPWSIMSUXVQPSSXTHDIGB@GMKIGJKKHJQamk_SQI?EIJNNNPNML<=GIM]^RIOPOSZWXbbcN[^XWVaZYPHBIVSPJV\TGJRY^UMHKKNQLBKVUVZVIIOVV\^\_b^UX_b`YVVUQPKTY]b_VRRPQUVTNIGLQWRPRUPS[^\VPRUVU\Z[]XOTYTEGQRMJPY^[UMNMNQOJFHRWUTSTRINX[X[WTX[ZWVSMNVWONNKKQTOPRVX[VUUXQFKLORPQMJBBA=AQhsskXOW[YNDJLIPQKIGOWZYW\`_][XOX_\XXSHGPXYVQGGMMNRUUMIHHONSZYRLQV\__WJMSWZPIDHQP\^VORUSKHOOGOW[YROIKSXQHGOSRMQJCHQQRRLHVY\^UKY^]`a_TTWCNQ?JXPOOQ\fbZFMX^QBS_fbYOIC3?31<@F7dopeOJT]RJKWWOYVWXVVX[km^WVRXTVX[aaYY\_XVSVWXUU\b^ZZVTVWYWUVZ\YNLRLKOUYPCFSVVTTTOPQKLMNPMPRUWXSONMNRSRSSSRNUSUPTPNPPUYZWTMIKNU\YZ[]YSQNPPPVZUINTVVUPJMRNNNRXXVU\XRNKNVZ]^WNLJPOLNRNIIP]_\^^]\YWTTQKLSOORYZWVYWUY[NTVTTUUSOQKOTT^[WURLOTSVVSUVXWWVVZXVTVVSWWXTRLORONRSVTUWSTSUSUVQOT]dc``feb[TVUVSVXTTVPVPYQSWXVTTQTTXYWPUUZ_cYTWRJLOUQORRRWWWYYXXXWRTXVSTUSSXXZZSUTVRSSVUOTXWUULKW\[TQUY_]ZYTQVUOGORRY\_VRY^[NPKJKRVSRNKRZ^UKNQSSSTTROWWVPPOVQOORWUPNVVWWYUMLQVWPGOPLNWPDEMQNMNTTJOUMNPWWZYZ\ZYYTNZ`WUQPQPOXXUOJNTWRNX^b_XPOTWVXTPSJMRSLIRSOMTVQEIPVZVNKSXSTTSTSRRTZXSLLPXZSOKERWPUX[WNPRQLLKKQRMKQUVNKQSW\XVRQRUTOONSXWXVXQRTSZ_^UOTSLHJSXSPQXYRJKPW[]XWYWNMQWRECONJNSMTRMOPPQSPRPKNOMHLJIJKMGELPQNQNFFMNNPORRUPRTSKHHLOMLOUVYYXPQSUVZTUQQW[VQPVXSICGG@FQRRVWNQNNPU\enkaXOHMWVPKORMCC>EQQJPOOMNU\ZWSUVRNLPKFEFJPQMIDT]c^PFKLHCINRPWXTNHIJJMMLNNRXUOLKKKFFPYabc_ZTNMLNRRPPRPQLIKILLOQNTQUTVVRMOU[VJHLRPUPMTYWTRILUZWIFRYZHCKPQNOLEGNKNQRMOWch\MMC@JJOWUY\`]WYTTVUYVN?OQMNPVSOVZ\b\MPY]PKIPQTTTQQPRQTPMY][W[WYTNJKORSOWYSOWZ^YWV\baUVae^Y[\XSPMKLU[XPNPMPUYWTURMMSTRQRPNU^`WPW_[[\\]\XQSWQLOPRMLOVWZYTTLGKKLPSSNLQSSRKSZXQQTRLOOTSVWTSNMPOLNNOKCHSWSRUY[SQKNUVSLLPRJHGJQbotodTUWWSKLKMNPJFMOOQNENPV[\]ZXZUTUTRMRTORVSHGCEPTWQOOONLJUSKMOTX^\WRUVVTPOJCJPUWJ@GPOPJKLIKVZVJHIIKJECKUVNKMKIQRMBEMRXXWZYZ_]QMMGOT]`MEAF[XRV]_7AQMSUUNbmiVWPRO]bXKVYXNXgnsq_RVVSPTVYX[VZUT[_]cfc[UTQRUXZeaVX``ZVUUWLKJMWWTMNNNVWVSSLJQZWWWTQPRVWQOTSMPQQGNQYZVZXROLJFHMKEDAFPRWZZZa`\WSQKVXYXQQW_]VQMRWUNNKHNTQLOVZTQSYa^YPNIPQMOURRSXZ^]XTTVSONQQURJPTUX[WQOWW\^]\NRNRXWVTQUTSVMPURQSWRWTVPSTTXWUUURURTX\XPPUWNJVLSXUWUUXUSQSWRNTXTSTSXXUWWUWQSTXX\]WUPRPSWSQYZURSRRVXYXWMXYXWXPJLWVSMLSTQRVUVXTVVVV_a\YXTTVVQOV\[\YTRNUJRXTXUQQPPXTVRSZWSY\RPUVYTV]^WLLITXXZZZYQJJOPNOU[YURSRRTNOQMKLPSUVSSKEMY\VSSQNNRUQKPSPUYUMGQXWSTUPRVWTVT[[XOKOQTXWSVTIOQINQFINMOT\]YUVUROLMIKQSNILPPRRQQUUPSUQRPLNTUTTRSWWOJGFFOTWPOJJLORTXVQUSJNTXTQKT\^XRKOVZ[VQJJKKONNMMMQTVWWWZ]]XVMKIKTSUVRTURX]_^[SXUROLJNRPNMDDLNMPPRTOLTZ^Z\]`a[WXZUSQQVXTQTXXOIMLKFHPWXOPMQLGIIPLGNQQPOTVTLEISPRTUSQOMOHJOOEERVWURVVUUOHTZ\QCGIJNTRIGJQTTUOGQYYTNNOLOT^fom`ZMPWLHQW][SNQVWLKHKMRQQONPRTVVN?BCMQOTTQONRWYVJLPQQQQRSWPKPQOQTSJHJLKJHRRKLOMJMUWTSUY^_ZMRSMNNKMSUPNNLONGGJGHMPJHKPUVLQWXYYTWWPSTQTZXTMKQQPSRTKKNMNKOPKKLQTRJLR_`bc\MMMJRZZafdec^PKSZ]ac_PKJRZ`dTLSOOUTYHHRIKP\^adcaYKKVUQRX`[QEW_a_XPQLPRPMSV[[[WTRROFMUVXVPXbjlkf^OLVXXPHKKMJLRPQTSSRLOPOOSPMPVXZWSQQQKG?FNWXPHDDPWVSONRPSW]]_[ZRMT[]]ZSSOXZVGCGPQNQQOILSVRRSSPMPY]XSMHRUSMKMOSQKKHMSWURU]c`ZSPOOMOQPRTSKKSRNRPJIKNPQPTTRWXTVRUW\_`XUVVNHKVYWMORNPSSNHNQSNKPUVSKHNQKJNJGLVXUW\`_URWUQPSTSMHFNRTVOKHBQXZ\TMNONBDNWSURXUIKRUNET[c^ZTO_fdPVbbZ^a]THNVb``ZGFXcZGQ[MPkmhR `djjf_MQVUXQURYYYSRUclf`ZXUPOMXXYTULVYUVXV[]YVTQLPVQYYYU^ddYVUWVWMHFKSUSUTPRNQX\WTSVZWRRRTSPNQJKNMRXVRPPPQMRRQKOROLPRPQLLQUOONR\^YUQR[WRWYZNMX[WRPSRNOQRKJNPQOMPTUU]\XTURSQMA@OXXURV[\\[[Z[YYTTZ\TUYWOPSTVWUU\cdbRST\^\WUSTTPVVTSW]]VWURTVTQVTUVTRWUWV[XTUYWVLPW^eb[WQSUPOJVVUTTUXTXWUWWQXYTOUTW\b^UPRPLRTUVWTXUVXXV_aYUV\]XWWRRTUOUJJWMTTWTTWUTPUWYXWTWYSPPTTWY\ZVWUUQUTURX]ZXPPVTMOWUV\_]VY`b[Y_^WSOSPKHLPVZVOPWXWTMPVQOLLSSSUURQROMQTQLHIQVYTMJMPQQUTQOMXa_ZSNIOOOOPONOLTRTVUQUORSTZYQRQOUVNFEAJSMCPZZXUZVRNRSPEKQONOPQXVLUW\XWPLOQPJHPSSWZZ^ZUSPFKTYYUSQPKLSVUPRYYUTXYUTQVZWOHCLNRURVWWRSOFKIINTYZUX]\]Z[YTOPVWPHKOVYSVWWWUVVLILKJG=CPRMQQTRNPTSOPSYVMMV^]YYUMLPRSVUPPRUMGEFLSROONEGKNNKEEOVSSNGJGCPSPKR\\VRUULJHMMNSSRKMPSSTQUTUPHNXZUSPQQTWUNKMPSQMJLOTQKECKNKTXeqriXQXZSMJNTXTSVYPIGIMPNJMQNRSWUOILMMPPNOOLKO[ab\UPMNRSROJOOORSONSPCKNPUTUVVUQMKQOXYWWVY]a[ROKECBAFMMOUROMMMKNQNQSQIHJKQTSWYZWUSKGLOTTTTRMPRUSQOMQKHJOQNECGDLWUREIWPK[YQUWYUNR`d]ahcXFMVRV``XUIGZd^OK]^WSXYQKFGQIZZY]^ZXOR\]SS[^^WNT^]YWTVWTPLPRYY]ZTONIHNOUTTNGLUeq‚waUY\^VJBMOOQMJMSWUVTNMEEPTMKMCOTSW[[WEDJQLOMOMJOUWVUTVTT[_`\]WTLQRV\`\ZXZ_[RPRSTWTRPKJMPMLMOIIJPVTNIFKPMPSW[XSMKEEUYRQYdga^]^\VLPSTQLHFDLNPRTNHFFMONPPUWUMIRX``^^XIIQQMNNNNGFHIHMRPPSOJHCELOOHKVZXSOMKOUZUSY^]XMMPNQUVRPQMMMPRSXTMMW_`^WOPTOMNLOMKPPKJPWL=EPT[]Y]amdYETRF:MSXVYZYWOMRQMQWUJIMUZSLLOX\YTXUJEPY[WONRWZTNHDLPSUM@MQMOWTXXRTVUQOOQPRLJRVY\\ZVWXUVZ]VW`_WOSX\YNLU^da]SSWYVSTSXWWSTUVW[YWQWXUUTSOTWPJTVSTQVZUX^_WRRX\fjeYSRQLJVWUV]\[]VWUVUTUKVWXRPSXVXWVXTMPTXWYWY[][WW`aWNS[^ZUWRUSWSONONRRPKLPQVSQTRWTW[ZVWSTUWQOWVVUWWTSURIS^_ZVNSUOSVZZYX\\^a_ZUUOUW\[WMIJM[^XOJOSQPLMKLPLGIOXY[VNSUPMNMIGDNOOORIIPSWURQOQZ[PKPQL@>GLNNJIMOTTRPQSRWYWURQRRV[]VKGINRNIJOONPSUQPVVRJINNTWUSWVPT]__WIGRPQK@EMJSYYVYZUWVPNQTTNPTOJSQSRSUYYYZWXYTRTRKDGHEECIT_\ZVTLGGDGPZ_]_^]XUQVVQTVWSPLORTSSROMOTTSNMOPPGLRVUSTTVQSZXUSNNVSRRTZZ\YTMSRRQPPOJKKKPQRWWRNJKNSKRVSTSRNQNGQSJHKMTUQQPPMOEGKORRQTUUPPLKNNQRPPRNQTRRWWUUTQOLOOONMILRVQMNMKFQUWYU]giaWVZXZ^XRMPOXZSGFJMJGKRTURQQTLAANSSOMNPPSQT[\_]RLOLJOQLHPNLMIKSSKOQQV[VQPRRJIPUVWTOUOJUZ\[RQIGNUOHITWSMOSOSVRIKNGIKFMSRTTY[YWPJKQVSORUMMSWUUWVQJFINPOKOOILVTKCAMVW]ZSRW\YZZ\ZSX`d^OIHJHLRVYWIP[YR^[\^VX[XWQRZLRTOPQQECM\`WUZ^\[VSWYVYXXUSKKQVUWYZSTUTQNNTUOKHFITr€‡~jUZ\YVMJNPRSPOTWWSYXWWWSX[SKICFRW^_bbYYZVTPKKLPTX[XUTTQV[b^WSWRSUPSU[Y[]]\WTOPPTPOHMUSQNRSTVRONQUTQGIRSOPTWY[XSMLIT[YXcmldXWX_[TOMPQMMNMNPUXZXTHDIQNLMFLOKMSWXZ[]VKMOOPMLQXWQQROPTUUWSORQIDBHKZ^[TTQQPKKQWXYZZVMKRTVYVTXYNIFKNMTXRNNWWSJBT\[UMLQLKFRWWNLLPOKJWWY\gkgWNBNPIAAHBJPJAT^O0CS;4FLP[`X12=NbVJOVTWXWSQSZVSMU`wzjYTT_ijhnsqd`\YWWTY[TY[a_YQZ^ZWTWXUXW]`_ZXRZMRKJMRPQNDGRVRPRTVWZSOKKVXWYRNQOKNR[ZRORM@IQTWY\]YOLSTTSUYVMMMNKOPKRSSPSUQPSZ[UQNP[ZVIILJQWXXILPQOJS\c][[TSTUQSTQWUY[]^[WQMNTWZSUZ``YQSQTWVOW[`_WWTSJU[YYTUSOVU\ZXYVTTST\^YYTSVWXSRNNUTVX[YTRUYnsobSTPNNPSUSUVTXVTSTWKLTUWSNTUUXXQOUVVWUXWXY[ZWTSVUYWVXa`]XVVTTWQTTWRPKTRVWTWVUURUVZYRMRWVUUJMUVVTUSSRSKROV[]UXSSKOROTTQTY[ZY^b_^ZYXZUSUTQQYZNHPQPMOUWUWQOMVZYXVPHKLKONMMKHKHPUSQUVQQPVSROOFCDJKIKOPIHHRVWUWSPOQRQUUMKKLMJOONOQTQEFPUQNNNMSRORWYVTXZZYVLKUZXXWUTNSXVRQJPLFIVVPTWVUZWRTSKHRQOQUPVXWVUSUURRRRSZYQE@BFKIDR[_]]XRLFDKJNTXZZYRLLNVZ]]YURNLRSTPICDJQY]TQPPONTSMKKKKTUQRQNQONSWRINVVWXVYWVRKHJJJOIDLXRKLSOKKPPQMTTSPHGSQJOTRQPOSVMLSSSRLGCFKLOQWVTIIFEFKRXTNNRQQRTRSMIIEJPUQKEKTUNIQWUSLQPZWSZ_[SUVZfooh\SRQTVQSPF?AFOPQWUPTRD=GRWTPKLOPSUSW`_XPONKEOMGINJFCHHNQRNIRVTRMMRPIJLPUXVOPJNTW\[WTNTXVPNRWVHINJGMLIDDLTTONNSTVXZZXYOKTXWQTPOPXXTPMMQLFALWVOQRMORND=9GYfgg]VWTRTZTPRSQQKLMNOOCFUYVHY`i_YSQQMQZZXUUTVHLNVRRQYROOKJV[\XYWNLRTZXUUXYYWPT[WW[YTTUTX`ZSPOHJVntpcZUXWRGHPSRURSSXQRYYTW]VW[[SKFBFV^dbd`Z]ZUMJPWUSRUWXXSQRWXVSUXVPQRSSPQTRPDFHHJCEILLHQ[ZXPV[YRMMNQTSPOVUWVTPSZWL?=DMQNUcorj]W][V[WORTTTPLIJRWVUSOIJKOPPPSPQUYWURQXXYYY\ZYUTWXROSTPNLNTUUUXUL;$HONMVYQ\bQSJOTPLLNUNSMMYYV_rsndXR`hkjiggb_[XSPY^XPQZ^XWSVZX][Z[YUU^__YWW__PNLQQNRVSJKIGJRSLNTRMOWZZZ]ZSPNNOSX[RNMNJHMRMQTVUT]a`ZWUUQPQRVZYUJCNOMJOPMJNPLLOOOTOJQXRSTYWUQRONKKRVXUSUNSSRWYXUYX[ZYVYXIFKPPQZ^^`a^TNLRMOT\Z]YWUNVWXYTSUUTSPOVY`d]VMNRXSTPXYUWVWVRRVLSXSRTK\pumaUSWTQRTVSVSQJNPORTPQURMSSQTWWUSRXVXTVXUUUVWTKPUWSSV]]]YWRSUSVVWWXXLSMRWQNUUTVPSWWXVTVWUXXMJQWXUSYWUVPNNSSSVX[VSLLJNQRPHMUZ__[\\VTXWXUQJFPYXPRIJT[YWYWSOY\ZSNLDIJOQSRRVTRQNQQMPTTRLOQSOSQNECGEFLSX[[VSWPQPSPPPOOPPPQOPPKKDNYYVTKIVZUOTRRQKKMMLOVXTVRJOSZXUSMQVWSNMV[VHFBPVRNRWUUTRRVVQPQKDLTSM\WUSPNVWRMJX__VKJGLOIILSRUXZUPLPTRMLTQQOTUTOPY[XUUTPRTRNIGFFFGSZZVSQTT\[VIDBIRQFEDKUSRPPRYZ\ZTLT[YQSOGLOVVQIOTVPKRQJMVXYUPOOLIPWTNQURPNJRWX^_XVRRKIJHGKOMKJCJRPOS\^ZUT[WTNFLOIFIJLKPUTPKMROJLUVRSKLSTQOOPPPPT_nmhedfdZTJMYURKBJPNVZXTQIDFNRSQOMIFNOTZ[[WTTXRLONKLMTSNLKMQKJMQVZaZUPNOPOPNOSSRTSIFJRUTUYZWSQNWYJFJKBFOOLOUZYWTUUWVX]`dbYVSTNKGKLQURKSQJNSMBMX\VROMORMKIGD[inf[VSNJFKX^]VJJNOLHRUNIUWKL[^db`]LNRYTWOJ@9F]XVJPMTSXXTHIWWXTUYVKLQRUWSOKMLRVSOOSOSXYTW\\UUZVVVX[^_XUYZULJQQORONSTPDQUTVPRSSSSSPRSLKRYXY^[ZUQOWZ^WSPMSUSTRPNRUXXVSPRVRPQPMJJLQNKCLPRUWUW^`YSVVSPLNNTYZVPQSVRPRXULECGNJKSYini\VWVRX[YWZZXTOIHOSTTTUTPDAFKMUSQSRVMJKNVWY\`d]XTVY[[UVUQLLPSUVVTQLKMMHGMRSY\`_\ZNNTTSMOTROOPTXWQNRQRPLGGFKJECEHLJNWUQXYWXRJOU][WSQOKS_`UVVXRNCAMSC@BIMBNQQNVbX76CQXQ;ANela[FIWJQTURXVKXV`cbaW[`fkcXY]flcZXWUcbWYVUWWUWXQOWY[XVWWaeaXU[\UWZ_c]VUSTPPUWSQIFNX\VSRONJKMNOTUQPUSPOXYSNTTRRQJFEMMJP`e]QROJEDJHLSWXWVWY[SKKNHKLKKQOJRTPJTX^`\WOPROOQQTVXWURORTRXZ]ZTSQTPPY\YSRKHPX\VVY_^YXRKOSUY]ad`TMVVPKSVRVUUTTV\^WLIPSWVSWZWVUSSTURINTTVWVTX`c_ZXWVUTSLMWVSWTVUPNLNMVWMTYXQPSVTSWTWRUTTSQPSPWTUVTS]_]`][VPSTVZ[SSUNJLRLMNOSQPRVUTW\ZXVUQSNVTSWTVXZZQOQSYWSUVUVNPVRSSWQXMUX[WTTTRQQVYWTVUWVPTVLGSYYRPUTOPY[[UPPSXXTSOSVUVWWWSIJJENKILNQQSPLRRNNTW][^\TNNHKOTKLKQRNMQJFNQRDMYZXRPRNPGNUUSSHFMMLTZYTSPOT__\XSRX_[TJIW_[QHGMQQLTYWMJRUVURRSKPPRSURLQUQMMOLHQ[abZTQLKKCFORNOMSQMOORQQSVVMLLUYTSVWQPSQQQNEDA=@ABJOPSSMLPY_cZQLKGKGEFJJKPQSMDNUOMHIS]ZTROMLTVYVVOQROMUTINY\YTGELPMOVWPPVSQMMPRSY[WTSNJGKJHMRQRTICPTSVWWUSNNSTQPQSLJKPRQRSQKJQRIHKJKOLEGLKPTSURN@EOOPPNPONQVTQSSLOTSW\VONPRTRKHLLOEARVPKRLFLQSSKGKRQIEGIBWii^RROOLILU^YMIMPOMGGQJDGPUQQSYT\]\[_\MKAWgid[VFECHFLSURROIEKLJDIRXZSRRSYZTO[^f^Za^ZU[QJLLC]Y[VW]VPPUX\\UPSRW[\[[YPPOPYZ]^[WURTNNRORZXZYWRMOSUWUY\ZUVYZWROOOOTXLGHJLVYRMOTRRV]YY\^]]ainhZIN[\YWWZ\]XPNXTTWVRQMT[^^]VY_a]YXYUUUQVZ[XWQPSWROPUTRMSRJKPPIEOSSM@FHHMRUTWTO[b`[QJIHQTPJIU]WUMHIOQPUWWVQMSVVOILRPUOLFCHRRRRV[VVWSNLOQRRTZWROWSRZYZ\ZSSSPNUWV]_a^[XRRYZ]UOVXNHJOTTPSUSLPROSQKLJFHJTUNAIRTMMPBKRNLS^c^HLYXUPYWT^`]SZ]agjj`][b[STVVZUNQTYJ2YhaRTWOWWJVRVda_YPPajcb^RRNQWVac\^\[VQ^bd\[XW\\_]XVXXWOV^WXX^ZX\bfbCCHKJHHOUVSRMQSX[^][XSPSW^[]ZSNOTVQOSURKHIQUYQISXSTTRQQUYSSWVZ\WVZXRJLLKMPSUVUQMPTSYWQ>@GNLNOMQQJFHJLRTTYZYWRJJTTQLHIKPTTNNNLKNJHNOOX^]WTQSXYYPMPPVTXWRTUQKMTTYSSLMOVSURWVUMJRUSUYVX_^_XRSSTRTRSLRUUXXVUMWLNTSUVUTTUUVTTWTTWSTWVUWTVWUWY\\[ZZXUWTVW]fd`TSNUVTSVWZVVUYSSWSXVTTUVTUTUVWPOPMQUSSQRLTSVSQJMUWUUUWQPTYYWWXSUTQ[ZWQQUXVQNS]\UWWY][POVUPE9DTZXNPQW\ZVPMLNPORPLPPNUUSOLONSYVRXWOPSSOFLMSUTQZad^MLPNQOMRSJLMLOTVRJJQMHOTQMRWLKOQNLKLLKGNSTPMRQNJGJWYY\VQVPLNHGEGOPSSSTUTUJMMLTUMOSMKQVTTSQKRUWYYWRMPOFFMSRFENOOPQNJHFQRSXZXURPNJKLNPPMMSUQLTVQKTURHCEJJORLEMW\[WXXPMNQRPIIEJORNJDCIQVUNK=BQTXZ\[\``]WLHTOGGIMOOLGHQXWM=>IPLLKHGRXWOOUSPMSSJFIPPOKJJHAINLADIPSOPROKRWYYSPPRMQWWSSMPURKUXSLPWWSSPJIJDGMLQQPOJV\^ehda[ILLJORNRVWRSRTYRQVXQLLHKXXY]\XQIJAGPVRGDDFRXVUWPPOPQSSRSV_\VLHMRNNQOKDQUNLJGOXVX\\XVPLZWSOTXXRNIOSPRSOMS[WURTVZ[XSNWVRTTYXWUUSLOROPSSQQOIEUcea^UI?AJOMQVUSGHLMTRJFN\^SNY\QQNGMRYP@OOKW[WOTUQRZVSMOHBIPY]aaZVSWTOQQGHMSTX\\\VJKWVUTQQW]YVWYZVPMTSUV\[RKGHPQIKSSSPKEGKSY]YQORLQYZVTYYYWUUX``XRVY\WPWZXYVY[[Y[ZWRKO\^daZSYYWSOX[]^\XTNQSNPQPTQLOQTQPQGHPTSRTTOIAFJNOONOPKB>Tfi\ONSTXOJLVZVUVSOSRYaZURKEP]_YPOOSQSSVRJJKMOXZZVUPNWVMMOUXYV[`c\Y\VUUPOSUXSOTXX[ba\UTWYXYX[XNGKPOPRRWXYVPRUWSRUVOIJNNJMWUODKJNYTLHTXYSNWYX]]YQVSSJKTW\inh_UK:9USPRUHF;FJ2HA7P]UTWJL_c\Saahhab^UXLLOYZRZ`aTWWLUX[XXZUWUY\ZVXYYWYOXWVXbb[VVY^\\ORQQPRTUSSQSWUNU[ZTQOQV\[[YWROUWVTTXXQOLQW[ZPDLRNNOQUSOTWZ\TSTSRXXPMVVVRQQTXXWTTRRTYWMIMNMPTRKIIKOLMIENLSTTSNPWTJKJJFMVVMMLMOQONOMNVa_ZXWVXYUQNSTNLTYXUVUTUUSYWZTOSUXUTUZZSLTPXVYYVSV[]^YUVYUTWSWTRPQVWPIUPIMTWVUWTTUPLWOTTSRRRLPQVSXUX]a^XUUUUSPTT[be_RLNPTYTMTSSWINPQUWUWWVVWWSSWWTTTSRPRUWTSWTVUVOOQVVUTNNQPWURSUWZUWMbYSPUZZSRVVUVXSLORRSWWUO<>HTWTSUW[WMEHJIJQUPGHMNPROKJROHOXZWTSMRWWNLONOVZWXZXJKNONMKPNJNQWTORQSSSPTUQNMRRMILQNF@HRQLJRVXWQOIKQS[^[YRLTVNQTLJHIIJMJGKLKNKMQXTEMUTPMPLLUTSNMELQNPSWVOJOTTQNQSPMTVPEAEKMV^_^]USTTTSRRUV[XSTTXV[Z[OIJIEOXVLBAHPPPUXVHKSXUQMICKOQMMDALUTTQGCPPMTWUU^d`[SIQYTPQNPMGIPRPQOPPMLJPPPNQXXKFIMIPVQJLSYVLFJSWQNOMELOMIJNTUMJNVYWQHHEFNXWUPKOURSY]VMQVSLFNOSTMLLJHRZ]WJMT\`dll`UNANWVVRQSMKJMMLRTNPLHHRTTZZXVONKCAIKLHEBMIER[\VQFGPVSPXWVQRQWWPFHTSJPRMMOJLRX_gh[ORQSTTSOMRVUWVLAJLLIOSRRVSSTRMQZZYYWTSRLJJMMHHJ_pvqbYROVUSQUURFHNQUV]`ZNTTJP]^XXXVRSQRUPGBEHPQSUXUUSWXPJJOUUTV_b^[]ZTWXSOPVSNRYXW\`[TZXUUX\VVOLUNCIKOTSSTQJKLW\][QF@CQSWZUMJROILSQONPGGGNGFGTQTWQB@CSYM^hb]_ZUY]bUVXU7JHQE9 Mcut__Z]qjXRVRko^YURLWOMZ_\ZZWYTTY[]\TPPUPSTYWTY\[ZUWXXWZZVWVVYXX[`OTTURSPLKMOTXXNKPMMTZ\[XPGFNTUTSRVXWYZSVRTVVOGPURNIENIGORVXVKJKLQYZXZYTRRLNTWUWVYPU\]XQPVUXYVVWNKMMKF@EKPWYZUOOSQIKPOQXXSQSQQSSVWSOMSWWZ^[TSWYRQPMRUWVWYTTSTSVUUXXWWUQPUUWULMOTWVWVQTV\]XTTRSSVSURTSWSSWOVJJNNOUXSQLSINTWUQLSXUWUTXTMPSWVVWRUXWSPOV_dbYUOQSUUSWTSRRNQQOTWTSPRTWVTUVVSSVRMISQV[^ZUYTSQUSSMJVLTTTRWUNXWYTTSWPKNTWVSU^bbb\PB@IPPMPTQINXYTUXSPSSLHHHAGKGTQOQNIMMMSTSVVRLRSVTLOVZTINPY`c\UPROOQSVWWX]ce_SFKV`ab`VOIPNNEFKOSSGBGLIKLNPUUSOUZ[SIOZYYLIMMIQMORSSPLFGRTQNHOXWPIPSRNLPLEOQQSWWVXVZ[[Z`c^XVXULIKMQOIGBKUTUZYSSTSZYZVUSV\\]XNFFLMLGFLNNLGLOPQLDGSXZWPPU\YSTZ`\USTTTRMPOKKKLMLQSPQSWZXVUXYROTSPRWQJGKOKSbcZONOOSSPLJFFOSRQJIKOPS]_TMQQWROPS^inobWPGBLQUUVTT]a^WQPWX\^`WUZYVURJINQUQHILPMKONOSTQMOQRPQNOKGJQPNQQQSNQTQLFINQOJKSUOLQQMLKQNFGONOMPTWSMLBKY`[Y[WQQSVXWTOLTUQRYZUMEMSPOQRGHQTJBEKRMMGFRTRKMMKFIJHLW\TNLMPIBDQW[^cdab]YV\ad]VJHJIDKRQXZUWadb]VO@;?CS`e^PJQZ]\YXXVPQVSLQUXRVadXNWWOT]USURQ[\XQQTX]XTRWX_a]XVTGJQURNJMPUZ\\XZ`a^]]ZSLMVZURLFDLSSTTVXUVV^_ZTWXY_[TRSTQV\[[]YXZZVVZ_]SMIORPKJOPX][SMHCOUVVWXXTPWWV[[XWSOJN\_XPPQOLLRUQP]fid_[]\XSUXVPUVYUPOMKQS\ZTNIKKI\cea]VUXZZXSONKLMPRPHFJNPPMOLMVWWNJSMMOSUSSU]^SLUSQUWWWXSTPFHNRTSTROOWUOPSOMTVZYZSVOFNVVSQZ[QJJNWRRRNKMWWYZUH?DNMOXM8JSKQPTQK<-*IY^[_bbliY^VKA1\[JONWhm`ZZVRSd_\WNNT_a]Wa_^]\YPTYU[dif[WX]UYUV\]Zbc\W`d`XUYPW\VRX[\[YWSRUSSQMQTQOV^_[WXY\XTQSPKLUWVOKQUURLJPSRXZO?DJQIMSRMORUPQOHHOY]^WRQNMTWVX[]YVUUUVVUMOTWUVXWVVURXTUXTVYRRRURNTVUQNJLLTVVVRUWVSTIMUVYXRNORUUVSSTSXTNNSVWTUUWTUXORQSUWZ_mqo_UONONVQPSVWTQUUPMQNOVWWVSLUWPTVVYVTMLRTYWTUUSTUYVSLWRSWSSJNTTUVWYZRLGKTbeZVTOLOWVPOSQTWYVTURSYYLKWRNWVQW[ZWQRXZQLQSRMOKPVVLPQXUQQRMSQOTWV^dZMKQVXXQX[WNPVVWROLGFDMUQKPVTKNRRUQOGPTODHLLVYZTQU\a\QPMY`[ZNMFDFGHLQVQTQTRQZ[UNUVPHLLUYXVUPLOWZXSMJNSX]YUQOPONRWWPNUUWWSQNKD:CPZcc]UZYTOPPTYTMVZRINRRNKLRTV[ZPRMUQPPOSVOKQX\WQPPUTPGJJJJORPMJCA@ABHJLLNLOPKSX]ZWTRRSRPLFHLQVTSX[XUVWUIHSYVQURJJWYVSTQPQZ\VSWUTSUOHKNOIOQSVSRSUUU^bYKLPQSNNQVYfebXUGCHJINSXTSTSMMNMRQY[XOQV[`bWDGPRNJKQUXTTWY[[[WUSKLPQPJIPVTQPUVRNNVXTOIOQTRQOPJIRTNLLNRTRTOJFJNQPKAAJNPRRYX[_^WZ^[YSQNQPPMMNOSVQQVWTQUUGA@HPNKKNX\YMICEILKHFT``]QNSPNHMVVW]]TMQX]YW[`ZLFIMRRNR\b[QZWPSQDEIM?GUWMELOHc`XTVQTZaZSQTQTV\\TS[[PV^ZPNNPSWY\[[[ZVRRRIR\[[]WRSY^[UQRRTW\[\Z]_[VZ[ZPONLONPTTVVWVTRPQW\]^WW[\[TRX[XWVUTX[\\SOKIQZYRQRQSNOQSPNU][TGCNTRRSOQQSQTYZ]^ZURRSLXYRQSNQQRROJOcstod\\^WUSRLORRRUOLNNPKPUPTUPNS[a^][Y]^[]YURLKKLOPMEDORPSRNIGKLPOHHGLSUTURUYVSTVQKOSXZTMKMKIFPXWNMMPWWVSUPKKLLUYSRPORSX]\b`SMTWXXTUXRKPN[^`]TRQJMOMQVIGIROWUQB?GTLBYjli\VV>DUKbf^FOYkpkgaWQWWfnhUYMUU[ZcWQPXMVY\YWZbc]Wa^ZWWY`\[[]WUYbbXWXVY]WVUXVVTSOKJKOLIIMSQUX]b`^][YVNJPRMOWZWURTSPNIDFJINXSKNLIMSUUPMUWVRXYQEMVUQPQPUYW[__`]RMRX[_]^YXXYSSX\YXURJILQTQUTVXWQNPNPX[UPKFFMTPQWUPS\[[WWQICPWXTRWRPUUW^\XVUVVUWXQXNUWTTUVUUUSTTTWSVUQNVRVURKJLVRMRZ^WVNRTVRUTTV[XRLTTSQQMPMOLJNTWWSSRUVXTTWXMQTWTTdqukXPMMJWMWVSROXQXVVWTXTSPXWXUWWWVVYVWUVQUZWXWTQQV[\SPTUVWSVRKRUWUNTWUTSUX^ddc]ZYVVURQSUNIPWYTLMV__YOWRQVUTVTRQLJTYWWUNMPUVSSSWXVVUMPQMQPSJIT^ecTKQSSUVZZWRTTUTWVMCEJQUWTRNNOQVTUYVPQSJAINMOTQKMRYXWXTNLUYXSNHGPQINRQYVPJLNQXTUWTMKNSW\YUUSRUXY[TNPQPNQWZZWQMPNNSUVWWWQUWWQPOQJKSXWV[[Y[\XOSVQQXUQVYVMIGGMUYTUWXSSQLNQSRLOUVUQPSSSNMMLKQXXTPGD@B>?EHLPRLEFHPVWTNRTOIMNOLOSW[[RV_[PUZUNDKOOJPSULLTRQTPMIIOJOSTVUZYWYYQRTSW[[]^ZWX__YYXSPNJMMHMTSXVPGKTSQVUVVSSYYURPSQSTUWVUagf_WPNJKGJKOVVX[\^]]\TJKVZVKHPUTTQQPPSWWUPNNONORUVVN@ERPOJIORRTOJLORQRPJFPMKIFDPdlldZZROMQQQQNKGMQYYTJPTWYYRLKQXUE=KPY\ZOIRRRPPONWcjfUNSWYPLOSPY]XOZcf_SXZVNFJT`_R@LVWMKSYXNR\`ZHEML96MZXPWRTVJMX^`\VQMKUZ[ZVYXOQTUTRVSRSSW^\WPRRQMIQVU\^XQRX_[SMMQNRTVYXXZ][]YUTROGHDFPQKPXUPNSPMPRQWYZ[XWTX^]YVSROOTUSNKLR\\WUWYZWPPLNPV[XQIGJPTSTTPLLPPMLMQLQQRQRLKFMNOMIILLJQhuzsha_WQQPGNXXVUSUTLJLJPTQW\SQX`a^\WZ_^^`_ZY\VQOROIDFNKHNTQORUUZVMMJHFHLQVTUWWYXQGMXWTKJSRHGIOSONLOVZ[SRVVRONGDMIIKPMLOU[]]SR[]WQS[`^WOV\aZQKTPBLQQRPLNTRV\\F8=DTPKQRebL<;K>>?F^TGGWijfffVNTVwtjQTYYZ]\WRKVQQNPVPU]^e]VSYYXTXde`]VVWT[a^[WX_aZ]aXQRSNMNJJLHEFDGQURX[Z\[YTOGKPRYWSTVXQEHKKFGKHMTWXYUNMRTVRY\[UTV[VJPQGFKPPRVXZZWV[XKS\^XTX\YXXWXYWSRUQDFJMQMPOQYXSQSOOXXMNYWLMTRVTLJRZ`[YVVQKNV]\[XVVQVY^YTRUQOTWWWVUUXYSUWVVVTVVVUVSKNPQSVXWNLS`\SNU`bZQIJLPTRUUURRPOLQSPQMLJRTVWXVQONTVWWVOWOSURWT`owvgUQNLQVYWSNPLQXUWVVTVUUTXZUU\ZSVXQNSOPUYSTUTWWY]^\WUTSVNUXRTXUVXVSOXV]_^]^_`^_\XXQKPSJKEPYUJISZ[UKIKMQPNPK?@GLQTYYYXYWTRKBDLZ_YVSJKOW\\WSRV\_VFKSSSXTVULNQPQTVMEGJOQRJHLSURLPY[YVVWLPPRNNRKKPWYROQTSTLLQOLKT^ZQLNKNTPPLIJNMFMRQMQX[WRNOOTVXTXVPSVUPLJOWYNMRTQQYXWXXUTYRMOQPLJNQQRSSVTZ[TTVXVWWWYZUMJNMLQVXYYYUPQPMQRUX]^UHKOPPTQPPRVX[WSMOQWVL?HNPQXVMIHLPSQQXZTQS^_\UWWYTPPZXNNRRIGNKHMMQUKAKOKJKJFOTMHQQRX\]XXTRRSRTSX\_]UPRTQW[YPIJOMGOXRKONIFOTTSQRUUV\\VQQTSNQTSKJP]ce`\QQVXSIIIJGISVVYYSPKNYULKTWPOTVTLMQSPILRRQQVXSONJKNSQOLQPMHCFJKIAAGFELNQNHD=$"-$RWUYlhbfjh`JUgy{l_KYWPPXXXWYUKSSV_YVWVUYYX^YRXTWYUWYXWUVYWYYZXU\a\[NPLMQTVUPMLLMSXVSRSUY]YPFHR\_YMTYXWTNKOPMMFEOVZWRROTYUOPYTNQX[XNNMEDOONQQSOQQRV[Z\__ZXXVTVY[\^ZQJMGBKLIHORPPWZXYTRPSPLUXUNSVXQI@BHRYZOLQSPOU^\ZTPRUUYUWUTSVSTUVQV\]ZYVSTRNPRSTY_WOQJOQUUX[VTRTZ]ZQKTRPONQQTUZVSRQQUTNTURTNIJPVTRSRNPQXVWNQQPSUYWVOVhuwmZXUMUJXTUUWVNUWOQXVZVPS[\XWWWMSTSQROLRTRUVWXWVUYYXXLKPRPUYSORS\]WUTS_[TTWY`]VSVRKMLLKHLQONPYZ[SIGLWWPKHKQRNGMRWZVXYUVXUSNJNY[X[WOWYZWUTVTSVVQLJKLOWZWPIKKLSX[][WQRNRONNJKTY\\XXWTNPSSQQVYWWTTRONNQSOMNLKKSTPHJMLTUZXRRTQPQSURPOTWXQPQSVWWUULQNOMKLKJQQLHMQQLMVUUVRUVWNMLOPIIKLNOSYWUUQOQPPPUVUTSQSYZVQOTXWRUYZVPUWZ[\ZQHMTQOOTQPVTSSTNNQSWWLIOTSRXWWSROLNOPTVQMXdhb[YUKLIQUXTMJKGKMGFMLMQLINPMMPRKNUTRPLGNRSUQVPQPTRQLTWXVQUNOX]\USUVPKMVVPOPMNONLKEGKMQRQOJT\YOIOLGHN[_Z][QM[]ZVUNHIJNSY[\YZPHRVUTURLMY^VI??EIEILJINQXWLGLQRSRIDIMOUPLGOOORUPGELJOOD@OWW\]Z[_ca]QLRWYXSMVXYRKVUONJJVXQHILOTURNJTVTUSMNWUMWYTWYUGBAGRYXNRahh`[[^ZTNNJSWWVOFEMZ_cd[XPONBEWYWYWZRMH=ADIJJMRQKOQ[][WZVWSAFKMRUUUSOONLIRTROX[]YROSMBIMNOOUVTLNUKHOKPSTUUXYZbbUOTPSWUSRUVTTULKOSPTUSTSRZdd`\[XVTWZRMOTTSW[ZUSUSQPYUTX^[TTZ]_^YMEGHLPSQUWSQVVOLIORQMLMLHEE>Ibvzq[UYVQOLILQRSXRPZ[XSQU^b`_WLJQYWXYURPZ^^[ZSQMQTSUUQSRNPJMW\[\[VGEPULLOLKMLOQUSQWVOOPOPVTNOUVWWWXXXSOLD@HSUXSJBMOMLLLJEDIOLHQXWQPPUTPMDGTUQRW]VS^dacVHMKLRRFFSYKMMUYZ\XEAMC,1CU[UekopVbgdWNMJW`a_WZWVQXVSOKXK[aac_VVTWYUUUULVVUUQW_`VTXXVWXVVVOX[[SNQPLRV]YQJQRHDQUTRLKPX]XPLU\_ZVVXXUSNNVYYTEAJNIGMWYWWPKRVQJJRQPNRSMMLQSSXVUZ^[OKTY^]ZXYXUX[][ZTMRQNIKMIHQVSGS]b`]YUPTRVLDTYVWSLILMOROOV]^VLS[\SGLRRVUSWUVUTQSSVQVYY\_YWUSLKLHTYRRNSTTTUSYYTRMRTRRSSRTSPJLLQSZYUWUVVUPRSTQOSWUVSTMUMQUUTOPWVSRQUWQP]opeWNOKVMRWRQTVUSWSSWY_\VSSXXYWNQTUTWWTUVTVTWWRRUSWSUSUQPNQWSTXTTVWXSWMIUOPVXUIGKORSQNPPEFKQSW]b`YRKHPVSMPWVWPGCNTVSLJOY[\__YWYXYUPRW\YTSRQUY[ZWUSQNHJSVSQOI?HPRRQTVRQTWTG@EYa`XTZYUPKSTQKQXZXLOVVOPKSRQPLKKIMNJOQXWXUSPROLNQVRSPOTWUPRXRRXXUYYRHLMPOSQOMLMOQNQMLT[WUQOPOOLPWYSLLMRUW[ZPNIHMTMINPPPQPQUYXVUT[]\Y]]SLOSSTSMIEOWTMMVWSQSOIKRWVOSRLMOSWYXTQYUPQPQONRLFMZ\WX\ZVQUVQRKJNTQNMJRXVTWVWUPKHLKJNV[UOOOSW]\ZWL@GMKLLPOPORURILRKMQTUWQNNPPQRTTVTLDJQOLRUULCCPTVYSIFLZfd^WZRU[[VZ_YSLOSSXXVPSRQTONNKKHOYYQHIJQQIIMQPKFKUTONQNLLRTTTWWPIHRVXXTJBAGAGPORUQQQXY_ed_WPKPTWYRHJTYYV\YQOSVZYMPUUTUVTNRX_\VMELSVOZaY]_XKGDIT\VNQZce^TSW[VWVVVUVTXRD6EOTVMFSUIBMXQCINTRN>.I3A??MSNJOTPVOKX]ZZQKJNSTSMFFMMIMTSLMQVYZYYXXSLLNRPPSRLPVPJKRQUXYXXST\c[SUOSXVTTY[V[XOHRWZYVRLNPX^WUYYUOOVXTJLKHGT\]ZZRKLQRQQRYYSSYTMOROJKNTLDJQWUWZZXOILUVSMHC?FMLHWnxrYTUTPQOJMKBFOPTYUMRPQW^]WTPMMOSQUTRKIUVXWPLFKKBMRQMMUVUQS[\ZUVSNWYWQRTULKKSXVSZ[YTNIPXTQOS\^\XUVTPQPECINLMPQSSPMONG0:CIOHNRPMJJPVWXPPWYVNTSKIKbhig^]]`][]QH^faP;;PckdQ6MB>IY^ZLJW]J$]ZSNJNOMWWXSTVUWNMXWXV[\\]UVX\UUWPW]WUXWVYYfe_WVXRV[Z]WXYXXWWKMNNNUXSPUTL@CNSXTLKNPUPFIQTWWYWQOMLRRSONJLKNFDQXZTNFKTXQGJLQT]`_ZZUMLPQLMU\^]WVXUSSZb`Z\`__UQRPQNOMMIGQZ[QLVYYOPOMKMJDHSUPIQTVTRQLLLTXUNFQYYPQ\^YYVRTTZ\YUWVVWTTSWYZWVSSNWKRVTTUTWVPOTSSUVPQRWUQVWWVPIINNNSWXWSSWPNORRTVSTSSVVQKPVVVONMXUUMYRXWXYcni[JQIKNTVUUTTRVVZVUVVSQMRVWVVTQRSVTVTWSMLSWSPNXOTUVSORUTPNMQUSRLRVXWVUSUMRUUPOKPQS[][WZTF@GOQXcd\ULBGQSTRRRSVPLRVUTMH@NQSTVZVRPNJBHVZVTQPRT[]XU^^[TOGPXXONJGFCKKAIPRJMUUKGLXaaZVYZXXVOOPGKOTZYRRSWXUKKHMLD=BILNLRWWOKMPSOPUQOQUYQUVUW\XQT\]ZZWKLPNIIKJFFKRUKGLRXWSNPSRMA:EOSSNILPRPQSPMOROUSVTUQNNMILPNRW[]YWW[\RKPNLNOPOOTYSMMNQQOLQIJSUQJMMMKJMWWUQMQUMHJHKMNMFDKLOVZ]Y_\ZSOPOKKHEGHKQPRSPMKNOQQRMPVTNMTUSW[WWRN>IKHLNQRQPSWXUVSQJNMLQVTQRSQJIOZ^XJENQOPY[[UMAAPWRTWXdml`W\VOOPV[`]WTZ]URXVMIPTWUQHFHBKVYWUSQTRKKRWXUQLLQTRQMDIR[ZZ\[QFJTZZUMEC=FEKU[^\RJOQSW[_YQMW_`\URLOTYWW[YRTWSTRPOQIJLQWYXWWXTNQPQVO_fhba[XOKMPTOOT^ecXTUSTYb_[ZVSLRVRMEMXXUCNHLX[YRKORMPLK?PQSXXTQLGIQUOO]qoa[\WUVWWVXYSONVVGGPPKLRVVXWQQSQPQVWWXUVXZYZUSNJSVNKMVWTSX][WSUWUONNPSWUNSYYWXTY[ZXRQW[\SJOUTNLQTVNNKJHNLOV\[ZUOQNKLHBEMOMNTTORTSQSPKCQTUX[TIINV^`ed_cb`_eeRHa^TFNBT[ZD]h_89^dcf]k>BX^>(JTVNUOPSOKSP[XPNY_XYVUNX`abfmcWWW]baYVTYUZ_^]^ZUPWVYYUURMT]_STPMSZWRUVPKGLZ^\XTSRPPHKRPKKQOMU\[TL@NPMSTNLPVXVUPJMRTXZUUQV]b_^VQMFOWPNRW_`cd`\UPSZ\[Z]WSNTXUTVXVSVST[[VOKSQKLSUNLPLMLLK@KVUTNLLKQSVOHHLPRNP^`XQPJGGWYTWTTQTUSURVVUTVVWVT[[YYWWWWVWYZWXYWWVOTNSVSQSUSROJLTVTWVTMMPPJLS[\YWSUUPQRRQUSVPPVJPVYXYY_hgb_YSRPONOUYYVQSX[TVQKJJLTSVWUMQSSV\ZTSOLORTSLKSVUSOOVUUPOKVPUTNISRTVTZYURXVVVXXUNPWTPRRJHGPRWeid\VLLLUWSKFRSRQOMKMRPKJOMEIPSPJIHEOVUUOJJJJKSUY]]XTMIO]^WNUUUKIPQTTRHOVQKKRVWUTYZZWXSJKIHLPNQRONMTWROGGLOSOPTUOPRWVONRTPLOUVWSVVTUXWRPRINTYZ]XPKMCDHLLHKNY\RIHUWSKFMPRMC=HNQOMNNRNMJDIOVQKU]]VVTMMMIHFDKQYXRPSZ]XORPKRUZ]_YVSMNMJPONMKSVSQPRWWUHKLJKNQPOMGDFLTTPLLJMKPVY\_bXPMJJBAHNXZQNRYZMEIQVTPVYQTODFJMJMMOLJOTQPLEDCHOTYYUVYXSSSMHNSTSNSNC@KU][UMHLNS[ZXVTH:NPU_^[esrf^]ZMHQ[[^]^bfeZR^`VPSTUZWMJLDDOOSZWKFGPVUTPNNKLQRPQKLNIJQUXYRG@GLUWSRPPQSW\^_ZYTORTMJLOOQ\djjd[VSXYVUSTV[YSPPOVVNLSXZTRPOPNLIMNRPVitreWOJD>EKSXY\b]TNSOH[abYX^VKKRWPKUbdWTMA=LW\XOUTUZbeWG\YSWQNMNSXZ_VXXTTQLR[VHGJJJMSPV_]UDQPMPVQV]VKLTUVROJFNUY^WQVTQNFGPVRSUVWXTQPTX[ZUPPORUNDHSYXUSLLW[^UMNMKRUPP\_\PJHCDKMLPQSQKELVTPMHDQWRNOROMQUSRPSSX\XJFSYTPSPGILTVP\gurb^^[YSTU[^[XTPRNMTYVTRNSZWYXSRNQUUY_\UUSV[XSPPUREHSZ\[ZXXVXZX[UNQVYWTPIJTOIJRWZYZURPRSNHRYSHGKLTVMHQTOLKS\`aZOLGDIOMIOPORTSQQRQUPPJC@:LYZWQJNQPUXTRJVTMX_aKJVIKQY_]QUUkdT6=RUfde]giYAWUSJTURSOLUT\KV\jcULVRW``_^^_b]_[ZWUQWZV[__YWVPVLXXXYYZ^_`_UROIPRLIQOMMOHP]_^`[XXSMRTQMX[SJLUYVODDLKNPNW]\XWXWROMQZaaZUQ]^]VMFKFNUUNPT\_ac^WTWUPRU[[RIKNUWZ]ZVSSTSRVXUNLMMPWYSSWVPKLKOV[YVSORRUXWYVRPNRNMSUSPQNHOSTTUUVUORUTVWZ[VUWTWUSUXU\SNTWVUUXVWYZ[\UKQSTTRRUXYVPLNQSUWWPSTURVWY^[SWSVVQQWXXTWXJPPUTTYXXXcdbdbYUTUUSSWYWRMRVSSRNNLWJQUYUSQURW[YTVTLLOOUXUTVUTVUWWSTUUPQUTWTVWUVY[YTX`\XRTRNSTMLQPLLPKN]dd_\XUPOXZUBDKTVUPPQOLHEOSUPSZ^]ZVSPPRSUQQRSPGQ\`^XPKMNRWYVXZ^YWWSVWZXQJLTVUTVTRMPVVKPSLMLHIRTQQQMMMRVTLGKTZXVWWYQQURJNWVRQLPSRKJQRRYWKHLPQOR]^WOILEGNMMKJWY\YRKOSRUTUSPTQLIKLOQSRRSRKFIPTRIPX\[\[]ZTPQNBFRUUQMPSSSTUTX[YWZ[WUSORRRSTNJEIILLTVTVWTTTHCMRKFIMHJPNNNMHJKIMUVVY]_[WSMENXY[ZOLRXWSIJQRNLLSPNNECGMSOGLNPPQVVQSQNOLHLSRSTXRSQQOQUUOJR[]QACLNSQNRWSKPZXVTRQY]WWZVaopiikdZPNRUURX`ff^[ab]Z\RJPSOKJJEECESSH=FQTURPGLQWVNLMRX[UOUXUTMJNOU]\UTTRVVZZUTRVSKORJFDEGHSZada^\VTUNNIEKV[V[YNQXUPPSSKIIJORPKNUVRIh„}gTMOICMVXU[^_ZOLABT`bWRVXTRQPPUX_a]XYGCITYYRRWZ[`gUP__S;AMRSWQMLRXSJNUZTNLHZVRQSOMRVSTTVQQXW_`_TKJNPVXWUUPZ]ZONNKNMJQRNJKNLNPUXVSMRURPMLOPPPNPTZZYWPMQMOTVSWULL\`UNNKEMOOTTMMKMNS[YRQPLQUROTTRNQOUXSUZYY\WVWTMJKH??DOVQWoz{nZRWTLIOVVVTNLOMMT[[_ZSU]a`ZPTV[^ZSZYRJMNTSOOMPOOOT[[Z[VTWSXWZ[RTZYVMNJGGDJPQVUYWUMKLNNOUY[OKMKQWUNRTLQNKU]^TRSOFDDMNWVTVVVVXYSRTOLJEKLONVSNPV_\ZLCFTVJIV^ZLFHLWaaZZTP>DILIJP?7P=[RKb_\]XMY_XTMOPVYYSWcaSMOMTVQXVWZ_fafb^YWUXYX^b`XVVOTYUPVYZ_gg]W]EJQROQSTLHONLLT[^_]PXUMT[VU_bZIEHLQVSNLOMRKOYZYXWYVNLILUZZRLRUSTLQSODGMLKONU^c_XVPSMMPPMJKKPSUWZ[WWSVUTNUTNMPNRPTRUWUMIFGIPRUXTNRWZYXYULMPQRRUWSX][ZWSLUXWSVUVRTSRWTWTUXVUSTU[SKMSVTYYVUUUVZRUSQTTWWUY`[XSUTPPSOQTWWVUXZ^WUTTOJRWWZXYWVVWWTVSUVUT^\WXXXSSRQPVV\ZVSNUVURNMMPTSPUWURWSPRTQVSTUXVWWXUJOSQUUVVSSSUJMIPVWUUTVTTWTY^[Y[XPRYTOONMNNLIEO[WYXXUPTVWVTVRNSQRTXVOKJUZYQOSOPOW\YRLSSVXWWVSSXWWRMNIJOOOPNPTUVXSPSW\ZPFOURQRSWVQTSMLMMQLCGQTUVRLPVVSUTSLOSVXXXZUOORPLIOPOSSTTOOQWXPKKQRRQQP[[TIBDJ@DKNOUYVTRPTRSNWXWQSXZRGGUUWTVRV[VOJKVWSLJQTWZYWNKOJIJQQVUURLJOSQPQNNKNQMJKPWYXSOMKNSQIJPTPHKOTONPSPKJLPNKPMJQSPQLMKJOJKPYYZTOQ[aaWUNNNLJNKKLNQRURPKMKHEOWTILNPTQOSOOPSVMLNOOV[YSURU\`\PLV_c[FCOROMLW`^ULNUUVXUVYQMPPP[c]^c_TNMKMID<@NSYbhe_[[SVQIBBMNDDCENTQNOMONOLKEKQQHIIQ\\YQSROLDGOPTVWXQKLQPNQPQJGHEJOLNOQNIKLRZ\_^[TPNIJHGQZYZ\UTRLMJDILQRGINNIJUXUMVq{xfMILHFJRWWT^^[VSWXW[ZUGFQZTIIHJQSUV\V_UNQVWSKPQVSZYBUWRWQKGQNVZTMQSPMMV]ZZ]YSNQYYWTW_\TMEJJHLT[\ZVOMJQ\_`ZWWYX\ZVPPROQMHHHKJGKRYWOLNTTPRY__ZVTSV]Z]]RILOQTTW\^T=GUU\^XUUZZ]ZXSRSSUYWTVYRWWXOTXSXXQN]WPWYYWY\VPIOVULICHOMNax€}p\UUQTVWPLMPVYPRWUX_`YRZcc]Z[[][QEBKLKIPYZZTOOQPGMROQXYY]^XU[]YQRYWQKMVUROQSPVVWTNFJOPMMOYZQLHHNSTQLNVWPNNLHJTVTMEDSYZSROPXZTQTUQKIQYWRQPQQYSZ^SSWIS]SLU_YA;LN[bYP\^OMJ[`Q@FBIN;BA6(HPVRWSetlKQMSSZ]Zde[VTTKVXNKUMU`bXTX^][VTUV^cd`]\\ZY\Y[[WX`a_Y\[NUYV^d\XWURNLLQUXXVTRJQYVOSZXSQSVTXYSNKPQMOTTXWX\ZSOLMTWQNMQQTWSRXSMMJMMPORT[_caXQIPVTRONPSTRRPNMYYUSPPTVROPLKQPORXWTRRMGGFOQMLQQOKQQQJJMIIKNKIU]^^\ZW[WTRVUXTSLSUTSSSSMPOQRXVUWVXU]\XZ[UWURQSRRTWWTVRSSY]ZTUVOLNSSQRPW\YUVRNLSTVSU\^WTUTPPTXTTV[]ZUWXXTWWOSTVXSQPNTWQOLSV[WRTPWRTWQNXNSWWWZ[URRNWRVLKWRWRUWNOSSUTTXUPSQPXXZ\NR][QTXRGHMSWWRLFBGOY\XPKMPPORTPGDMRUVTRTYY\[ZWXVTQNONMOUVWYSUUUUTKMLMSTQQQUUMHUPKNSMKMNTZRRNINNOQQLGPLEENUSSWZ^[WTPQTSUSUZWQTVWQOSQHJKOPQQTPKKNNLOUXXQKOUWRPLKKRQOHFNPMNQRPJGMSUTQMQTXUVQVYUKLU[UPNQQUVVVTWUURNNQNOPKBLMNUYVVV\WQOJHJKNMONSUPJJNW^`YTMINY]YLEFKLFISRKHLKJMUVSJINNOSUTPTWUKHD@HPROLBM\cb_XRSLFAIMKJNKLKGDGLLLIKXXRKGISVNKRMMNPONRONWWRSXYOQWVMOY_]UIGKPUXWR^`XQMOPURZ\WMLRUNKNNORQIHKQVWQPNQUQ[fic_[`faOFBJPPGGKPSSQQUUYYVPKNNIFIJKRWWTQUSJHFNNQKFLQOPYZTRQQRLKNQSRJJPTPJPX]\VWXTMLPUUSVTQKNURL?JOG@KRXQNQUUTUW[UJYjpi[NOTUMJSXUNTVX[\XTUSQG=IV]YTH?FOV^dbeaLFDBIMJB4CMMKOQZ^bXHPUdkdTNSVNJOLHJHPQU_a]TPV\]UJFLKGEPSTX]XPORXVVX[^Y\YXZWVWZUSQNGIKLHPOLG;DRZ[W[c`QHOSWYTSWWSJFOUNNOSSEFOQSXZ_`\ZWTMLRTUTROOVYXY^^\][PRUP[[PHMOPNRVUPIITRPMJKKABNfywgYTSOQPLKMR[\TRPNKTTUXZ_]WYZTVUQHMRXUSOTXPQKKNLFJNKPUZYZ_]acaVJHPTSPKPQTUSWZYWTQICBMSXSQQYWTQIIFOQORVWQKICFRWXRPMONTTLFFQVVPENRWPGHRIEOJDLMNW\SV\TS^ZFIbe^VWUWYQS\[TPJYhb_SFJVO(AU;CNJfmgu|wXJPQe]URU\UXXWQYXUVVQYjeRMMVWNRUXWT]bjedhb__YYWYXWTRWZYZYT\`YXZZWSOPNOPQRZVONRRPKISVX\\YWZVQOPOLTUUWYW[][TRVZWROSUVSWSTVTPOGEFHKSSSZbd[SNMLLNNOTVUNQPNKRXUJAFOYXQQQTVSLNSXZXTOHIQ\XTRXUNJHLLHGBFKJLKJNVYY]dfaZUUSTUURWUTTTVULYOTRQRTQPONXY\UYa`\]WUTSSSVWVVRRWWVUTWWPNSSQQNOQRNPNVOMQMLMPU\YWQOLNOVSRQXcd_SUURSXTUTSRRTWOUUVTNOTSTPRQSWSSSQKUXXRNNPPQQNVUWKNKNRPWYXUY\]ZXVUQQLNPTY\TYYYWVTPMRYTTUQMQLICITWOHGLNHOTTIEINOROPW[[YZYTTXVTWVWWTRUWVMNSZ]XVVVSUPONPW^UOTWRPSRNMPXWUYTQVQEJKGGPUMJVYUX]]\ZXSTLMSZVRUWUUSQJEKHCFMNOLIPOGGJKHISTSWSMNTXXVQOLQNOMEISLGLPOKNPORTPRQIOQSUXTQNPSMFJLOTSQSQJFFPVTXMHMI=ELSWUVSZYUOMKIOUZVPLNVVNIKV^]XVQQORWSLJILOJJRSNKFAFMMONJKKKFKPWWTQNPPJGDLOPQRSW^bd`THNOJNILVXSNKFHFEGOSWWSRQJIVYULKLPMMLQQJKOQNOUTRQUXWTX\_WPIOVX[UTWYVRKKPRPV\TTRTNGIQOLNQKIGGVWUVXSKJT\^`_`cd[RIJORNFAAIOQRMSYX[VSWYTLBGGGGIRQOUXUQJBJRTSLMPS[ZXRPMMKJCCIHCCOWVPOUYXQOWXVRSTVXUSLJY\VKHOQL<>JQSOKOTX\\ZWSUhtqfXNTVQIJQKMQVY]Z[TMIHRTNTSXRIKPRS[]^`YSOI>GMKNNOQOXSPMUWP;OTelf[WY^\OIH@GKPQZa_YVOJSV[RIGIMTVRMU]_]Z[WVRY^_]UTXXQQTVVTSLHPURQPLKPN@LY[YVYYPONMGNWVTTUQPSYYRPNKJKTVSQUac_[SWTVUVYXTSQSSSV\^[[WONYWU[XUTSTWX[ZVNKLQROPWVRJISbnmc[UVSKMKGJPX[WRTVROU[^XVY]_^YSSVVX_]\XTQOONLLOPPQMOQRSPQS[_c`WNNNWXUTRPLMNRUWTMKGJKSWYWXYRKKJMIHJKRUUSLFFIISXXUPSSNMMKEDJNQVQMPTSMONLHGGHNPOVdg^PBQ_YTK]gf`WEQ^^]U?`ro_ce\STMbraXW\WTWSPVLX_^UT]VXY]][PW[YUTXegbY`^\XPTT[`\WWY][XX]SLQOQRRUWSQRPPJOV[TGLMPUNNQQWWRT\^\UQOQPRXX]ba]XSKPVPLKKOPVVTTTPOMMMJINRROU]`^WPLFFIRSWYYXWVNIOTSIIMOTYXWYY\]XWVVXXSOILYcc[UVWRORQUKKQURKOOKKQRS[`c`SIVRUUNIOTUPLKNKQUVXTSQSSRNTXYVW_cc`XTOLLWUTVUTTSRTNQUVMJQRTVWRONOQWPUSTKNSUVVVXTOOMPUWPMVW[Z[Z[YSRQPRSPTVYSPWRMWTSQRWSVTRLLRTPW[WSQQRSUVUWRKRUTRTNMRUVRW\[SOQSRUTTPSXUY`c_UMITXQJNMQTROMLOQUVQILNLQORSNDGMJJPWVSQOMPONMR]bbVIOTPKPY\[Z[YUTYVWWQW^[VPGINQUQKOXWRXWSVKKUXQIFLOR[]YVWTSXQRSPNUZXSVTTUTPKNRLCBJNMIC@GNNFGGJQPSUPQT\ZWSTUTPQMPJDOURKLRQMOORRPPVSJPXUSSRUVXWQ@AKRSQMPONIJQT\]XNMEKKQXZTQTRRONNNNMQRQLHKSWOGBMUVVTOOOOTWTPNOURNTZRKCDIOQLKNNLJAEKOPOHBINNKHILJOQPMQWZXM?GSXWST\]RKFLJGBCMVWVSPMJMORNJF?COPKKLDDCHMKJQSRSUYTSWWXWSRVPOSRRUYWJGKJNWXVYVKEEFRURRUWZUSVYRQRNHOUYX\\YY\cbUMMSTTSUQOOGFLOUXTJUWVPQPPPJLMIA>IOVQKJV_^WQMOSVTVSMLKC=CHHJOUVRPPSXXNQY^ae\VNDADEO]_SGLOJIIJIGJLIJPQWWWROObjnieYQONPQJB@IKP\\YPNIPXXONVQFEQVRLSSZYPGJQUJJIFFPHIRN@HRJAJOQSOFBEGMSSMPTVPJKPMC7>DKRPSXWUTWQDHMOKNPQY]ZUPVYZUQMRSSNHMU_ZTKLLQ[[\^__[]^OONP[[:4daMURV]VPNjl[Y^VWS[XYXTXYWZY_\def_XXTUXTZ`\XNTX[YSWWahgb]VWUSUROGHNSWXVXYUTSNNO[_ZUPOVYTRSQMHMUY[XVQMJQSMJU]\VSOKMSURPOSWY[YWXSSQRQNNOVVWZ\__ZULGKMU[Z[WUSRPHLXXOVVSPSWXUSTTZ[YQTVSUUTZ_^\XTOKEGSVRLPOPPUVWVSQKNVXSKSTPYVTTVVVVKQTTSWNPSVUTUMPUUWUW^dieYVUROTTRSXWSTVUSTPMVRUWWRUSVVSPVTSZZSQPOQUSUTUWVSVTTV[[\YY^Y[XTOMORPTSXSQLOVJSVTSQQNRQOKOROTUSTRPUX\Z\[WUXTUSXQIQNQTU[\ZZUVTPQUTTQTSXX]XVNFJPNONMHMNNQSVWVXSRWTRMOU\XPMTTOMTUQOLNQQLOSV^]VSZ\XYX\_ZUVWSSSSRRLQYYUPGBJNJLKRXVPTYUTTWYYWMKEIV^\\XRNRX[VYYVONSWRMQWZOIUWPFDMQORQF8JPSNMKSYUROMV\^XXZYUVVRMOOMRWRSMMJNKJJKQOMU]XLOU\\YUSNHJGMNKEGGCDEQSWUSNRVTFMNRRRQOMMNPNNMRVWTPTXUOLOUWZYLLLHBHNOKNURJQZSRQLHKRVVOLPPPPPJCDJFPRROLPNRVOIDGDMHB?LZ^]WSZ`aYMLLEELVZQL5IYXXVUUMMPE3IKIKOZPC<ETOFMVUJ1>MYT-DN[loVikVUSOO]Zbb^WYY\b^PSM`eoYWUSaYRMV^ZV]_`gole[WX]\WVWSUYVSTVNDPRU\[XVWMEKSSLHPTQKPVVNQWVVVVSWTQWVSSQJGNIDOYXRNQRQPOJHPMIORUVVOKKJHQW\]`_a_XRSQMKJTSV[[TLRYVOMUWWWMFSZYUOQPOLQOKTZXQUWQLOORVYSIPTPMLDIKNMSXYPLSXRPVQPSTUQMQNIQV\]WSUXVWXQRTUVUUVSUVWWbgg[MHRQTRSUTSRNMPMPUWRPUPUVWWVTWSSSVTTTRQJNJVXQXXXTUW``Z[YWNRTY[TSVWSTSTRRWRTX\VPPSSUWUVRWVWVULPSWXTRUVVTMPQSPROJKOOQRVZURY[XTVTTSMPUVZVOTPSTUSUPPLTWWMJRTPPVWNJPTW]XTPHOURQRTNLQQRSVZ[WRPRNSQPRWRGJYZZTWWVPNSSSVUSTWSRHHOQSVSPWXZWRRTPMNSWRQFIRURORSQNNMQ[affWM^gdWQTNKMGILMRPW[WMQY[_UKTWSSSWY\WS[[UTY\XXX[X\VTZ`_OJORSRMF;RNQHJMQURHNZVOPOQY[[WY]QHOQVVTMPVWWUQVYTQUYQIPVWOLOW[ZULKO][UQSONTUU\YVTSZ\XTWV[]VOOS\[XSRWZXTX\VJINMOVWOJEFMTVQROMOWYSPWZZRRWWXWYTLMPHGRRJDKSNRUZ\ZVQRRFINOQYXPB9Nbmkc[WUMGMNLLPRXURTZ\^_Y[Z[XWYZUOQUX_]ZTTUWOVYY\]ZTQQ\ZWZYWVW[VRUWTPX\TX[[WYVROPUVNPORV\XV\ZSLGFDMUSIMOMG>MSUUMMQQQPSQSUPIQYYUVSROUWTNEFKPWZVMJNNSSMHIRWWECBDOYd_\ZYRadeWSPJ\_G"'TebVN\b\QVZPVQVNR`auf^XYWY`a[VTYa[PQ[\_WQVZ`haVY\_bb`ZVUZ]XYVWY\_^ZYURXXYYWWYX[QNNMHECJMGJPNKQVVZYRPSTTRKCRVPNUPMS[ZSRUXVRMEMSMHUWPNLKKUTPQTX]`ce`WPTVPMKRSPPUWONVZWTSRRQOKJOTPOR]`\YUQSWRV]_YRTTTVXSNLNKILLLNJKIQTLIT\[SRNPRVRMLSWRRSVWWWQQTUSKWSWWUTSOKUWZ[`bZNTVMTUTRRRSQMRUPVSSUUTWRTWSVUSUUTSTWUVSMMLSWXVTUUSY`dc`\SNMX_[UUZ\YXYTVWXUSWQOQPRSTTMMWR[_]UVWTWRUSWURWTUVQLOMLMKJLUWUWWVTXSSRSTNSSTWZYSIINWTSTRRYYPGPPIAHRTTUX\^\XVPOWUTXYTNSQMLSYXOHJSSPJCLU\YXUYWSVTTSRURWWVLJMTUNBNSOSSRVZ^]YYXZNPTYZTQIOUZZ\URONOQSTNOZ`ba_[WOKOYUMKNMNVZ]TLNOTWVSNOJFLJNX\XRNKJGPUPKR\^XPQSNIO[^\XMJTSG;EGEHOURQKMNHBAOUURVVTQQUVPOMIMPOONQXXVMKONPTQLLQWTSQKJRVSPMCCEPTSPT\VDRYVPJSYZWWWYSOQRRSVWQPMPLJIHOTUY_d]SLPMIHFIJEGPRMTXVVUQPTYYWZ\UTQQOEGRH>BMHMNMOKKHNPNLMJIMRLKTQFG=ERWRW[ZVSW[WXVRPUWXQNR[^`ZVUXaa[WROSUURUUTV`a[SNNKU^dmqsiZIJNOMOMQUV\WOIIKHCGPZ\YNZdd`YNMMKLRUSRMQVWVTPOKOOINMNTYVPSTMNOLDOSK>DJMO[^]TPOIJPSVURWWVRPQYW^ca]\`ilc\ZPEEGFJPTY[WNGLOS`b`\YQJMS[^UMSVSLSZ[TQXcc_VWUACRYXOTPJQBBOCGLOPEBAGEKPVROUXWXWHHLRUVPHKNKNPOSOLQVVSRTWSHHNQTTPQKPXWOKPQTVRNPOSX\\ZXVSLMSVUTU\_\VQUSIJOZULLH?ITXVPFEEJOQJKIKNSSSSVYWVVUSUWYTLNSTQOKLTUOLT\^WQR[[UPPLFONJJFDaork^UTQOMOROQVWQJPVY\^ZVWVST[]XQSRSZ\WRMQTROLRX][UQWVVSWYVRRQNLUXPKNPVUVQWTLOTRPRSNH@HTNRSOIGMKLTZ[TJJICDLVYWTJKMOVTROQOOTYQJHQRS[[VSMFGAFQSSSUTSSKCAECFMTNGG[U4G`e`W[HCPMCSTVL;SiibchjS&YUTRNXXK]qfWTWTSOOTONKUUWT\ZUT]_e]]UTYYYW^[W[XXY[_]XYX]^VWUQQVVWZ[USXSPTUTMKSMQVWQUVRVRQTTTTTPPW\WRJEJQTPJMTXXXSPSXMJTTQQOEBRTNMRXUY\\YYUSQPNLRPJFKPRPU[ZYWSWWVWXYQPMMW][SRLQSQOX^]UY\^[TQRSQPLHJONOKONOMNRUSURRZ^YXTRNPTTTVSVWTORSVVUUMTTRURKIMX\ZYYRJUIRSTVIMPSUVXWQTUQOLVKUSOPSQSW[ZVOVSTTVQJJTYXXVXUX`cec[WWUS\XUOWZZZ[UWWYZUJVKOOQVUVXRRSSTXYUVPROUWSOQVSUVWSOORRQSSPNQUSORTUTUUSSUVVY\UNLPRUX[^]^``VUXSEFJOW]]^]VOQQUYUOPRMQT[YVMMPLEBDOLINPQVYTPMOTVXUXWUTWZPJOTROJIRZZNNQY[][WY]_]TU^^XSMRZYWUOJPHEJQUQSZYWYTTOIDPTNEIPNRUZZTOPQKSSSOOSQMLQTUSM?@IMKPSSOSbZPMRUPWZ]XUHCKPDHRTQV]YUSLDJJKNSSKNWWSRSYWRKLLIRUQMTYYYWRTTTQHCNWYVVSKKTWSOF>AHMMLPUZXRV[UGDJUSSRHKNNMLEBEHIHIJJNRQPQPOUVSQUVRVUMHH?;KQTVWPLGMNQSPNRUWUWTRPTXSJJGMJMLMMRUSWWVXXPNVUU[SNLMOTTMO[`_Z\]XSPJOVYZPGHS]a_]WPV\WRGMRSNQVUTQPUUTTONPW]chmmcYMPPLRRVWUUUQNXVTPRUVYXX[`b`]TPSSQVYWQOUZVUNBJSXULJMJR^YROUQHJKGHNHA=@DGR^\UX[RKNPYYWZ\]XQMMSbjd^\`jmlh`VLLKHJPWY[ZWQSSV[efc_VOMPZ_[WUQTNSZYZW_ceZNOYUPSX\[NMLLK?X_TPTKQMNQC?UUNKRQQUQLMRVVNLTWWNMTQFGNPMMKHKPMEKYXUSURKQYXRNKQWTSVYXNNUYVSZYNBLQRRRUTOMLSLBEPTXSONCHJIRVMA?GSWPMKFEACAHOPPSQPLNVWNLQWTLEBKQROKISUKIR\a^XPIJLHLRIO`u}ygUUZ_[VYTRQOH?HRX]^YUQJKLVVTOQLISZXY^]XWVUNLSQHQXXTSXZ[X[ZUSJKMLNQTTNPUWLNWWQPMKGAINFRSOOLHHMT[]XOTYUROSWTOJ>JRWNHKMPQTSLE@JNNTURVTMC?HXVVSRRSLHNRL>CTWQE@>43LRSGED?BTXOAKV^US`^Y^^bT*A;'aPM^jmUU[tib`_YYY]]WUKLWVVWQOR[dYQWVVWZa_]VW]^[U[]XVW[^YUZVLOPNHKKBMVXV[ZWSQVTTYXVSWWWWVUXWTRNSY]`]RIQPOLIQSRSXYQPRNIONTWUPLRTPPSXURPRSWVPONQRPURLKJMPWVUVUVSUUQUSOMPUTUURPKJRYXTXXST[_[TMRNDKPNNTUWVQUQQW[YUSPM]d^XUNNNOQVXVTVNLTVUTWSQSTWRRKWPSU[ZYVNJR[ZVNLKIKURTSVTNSUMSQORUWNMRUWVWWXUVZXWWSWWWTPWVYY]]YXYWUXTNMNUTWSRONRUQJUKQTWWUSWWSSRTWWWSTTQMKQRXRTSUSPWKXUVVVUVWXUPSVSUWZVUVVUSSOMKJPW][[^\cc\VWRKKDCNTXY\XSMUY]YKEGCHW]]ZTOUSKHGOQOPRLLPP[`^ZTRRTTRRQOLO[_[VQJIOWWPKLPUYY\Y\ZTOV]VSMOQRVYWPJJIMPNJILMMMNQMIJVVSKCEIJTX]^TXWRGCMMKPPJW][SQPLEJMGOOOQQRZWSLNONPUTSOMKQNFGNRT]^WPMH?CGORUMIKPPMOUY[UMCEKPQMNQQLSWSMKRNFEPVXZ\WSNVRPPRPPLKLMUZXWRSTOOGGEJUZSMOMNNQSPQNICJPVVSPPUUQIGIFGLTVLDJHFKPMJLKOPOLOQOFCHIIKLRU[[XTTTPOSYUQTLQYZWXZTTWUV\[PNRX_\SOV__]XXZYQHHHRSRJJRUZ[[UGISVJGUTOFJSVTUORUVVYZWQXQSY__^]]UPMSWYOKQUYZXRQOMOSPOY]ZVTPRZYVSSRRSRSKJEFPX[WIIKR\a_UUTQSNKINROPKNOJIPPLW^]ZSRVSXZYWXVQNR\`^ZX]gmqkdYTRQDBLJILVVVONNTZ___^YXHKPSPSYWMQY^ZWOKTTIQWPMXZ_^TDNKKLQCJHPY^_aYUYXOIOOSKMPVX^\SOVXTGKTVQHMOIFJGIRUNR\]ZVVTLYaaXTPXXWQVZXVTZ^ZQMSVTOUWVW]__YYSRVUUUTRRQQOJHS\]\XVRPRPLGEJMHJOILV\[RNRRSSTTQKNOROHMPMQRKINW^]XQKIMOSRLO]q‚…vZNT\VPOOCPXUFDDPWWVYXVPPNUY]^\YW\^`bd_Y]\WOQNOWYYWQPUUSZ\XQMEHMPSZYSRYZRMMNGIPPSMSXSQOORNEGKNTXZ^`^VQRUVMTVQKQUMHJMJIIHJLMNNPTUVTOOIJNOPQTWXLBLX]ZJ;IQJ@HRLIUVOEEJIBFSachbb]OP^Y]VM<5?:3:BE@DKemsoNMV\ZVWXXUTLPWVUZ_YQXLVTY_WRUWQX`b^UWT]a_ZYZ[^`^][WUQNSTNJGFOXTUZZRLQSONPPQOTZ]XSUWZZTPLQW[ZSMLJQSUZ[QMUTQJIJSVTRNPIKSTUWWYVQOOONNMFBGINTXUGDGILPRQRRQONRQTTRRUW\\YPLGNVTMRUPOT[]ZZVRRVXUUVUWRQOOOQSSLLMR[b^YZ]STSTUVRUULNQKULSUUTRUNPVSQPUVVYWSNV_a\SUPUQKLRSUQQKOWTMNPQUSRNKNMUY\ZTSRSTYTWQTY[WWTTTWXQTWTNLOTSRTUTOKNUWSQORSUVOQTUNLNPOJVNWSPSRUWXXWKKOLMRXWTUXXVUTLIPVTRUWWUTVSMONMLIGKTTQXZ[VZXVQNKICGJILTYVTSNV]^\XWVXZXQLCCMSSHHOSRSQTUTW\\XPMGCINRRQQS^egaWXPIJPVWUKAGOZZRQURT]^YPTRRX_^XPKKJDA@CLR[VIBIRE4=HBBFTTKEEJJD@IdmoprjTLK]b][VIIN9=ENMUPMSLRVRPNWWXPKYVXYXWSOVQWed_VSY[\a^][ZYWWWXSSSWYZUWYYQPUVWQHHIPQNJPRRPLSWWSSOKOX^XRSRSWZUQKIPSKTXLDQZ^[VSYVLLMIHRXVPKIMROOQUYTKINORUQIEELRYXRFEFHLMNKGLOSXXUKNMHPUVWURJ@MRLOSPKHOW]aYWRTYYXXTWWWSSTVWRTPLQWY[YQPXYRNQSRUTVTPTRNMVSWVUWX\`WSSVNMTTWSVW`^WTTUTRIHSUUONSRSPLNTVSTMVKTSW]]UMJKPVVUOV_\VOMV^]TRTQRPKMRTSONPPUVSVVVVROMLNTVQNJSTKSSUZYUURRRVZSQMOMMOSVVUTVTVUQNUVUROKJOOQRPNMTKFFMTVQW\YQOUTPPQLKMNJNUXSSTORZTQW\[XTLDKOKMUZTMTUURQONOTWUUPNOJHSVPPOPXb`YTTSNPOOSROLQY[ZPQPNKXWMJQXY]`ZUQNQWUPHGHQ[ZTUWULLNQTSIKRQLUacXTNLJF>LQUSJOQLVWROKOVUQQVVODNTSWXSQV^\SRPX]ZYVSMKKJB@JSTQSOEMUVSNJMWZSLMMOPMLGFJNLIIIHRZZWWY[TLFKNQSOD>ALRWVSKHNOTWWWXVNLLEHLURRUTRLHDFLONNPYYUXUPTSSX]XOMMOIPQKMOWZXSKOLCFJMQQTVUQOPRSXXSWRKKLTUAHUYTKITTWUV\_[UPOVWOPUSMNPPROLPOSX[XUUSPOMOQSTVUVUVRQPQSTUSVVQOKMNQRQMHIHIKVXWUX\dcXQSRQQQQPQTXUUUOKPUWTLSZ[ZYUQQQRNIJRSNOLKPRRNLLOLKNUUMNKJOTSPQLGS^\TKFIQY_^UVWVUOLOVTQRNGNUUY^ijh^ZX[[^[TRRUVNMOQTVVWZ\\^XWQHRXWYSAGW\XZ]VTNTYU^fk^LU\ZJEKSRVaXRWV_\VWVSWW\YU\\ZOQSZWYVM@IQXZ]XTUUPGKPVTVX]_``YUI<@LQOPSWPGGHORVXWSTYYUTWVWUS[^WY\]TKJJPL>9CPQPQNMOVYURSQUZ\[X]\VPJNPMPW\ZV\[J;EILKQTTRQNKKKMRTROURPOSSUTUQRSXuƒ†m\XULLKOVZZUPPSPNOW[b^]WPU[\YUTTPNRVSLLPTWUV[]\VQNOSPMVZTLPZ_[NKPVVXXYUUTRLGLTYSLSTUX]\RNJKORPJXbf`STWSKMQVRRLIPURNHPSKBDKMWYMIHMYVKHNW[WPIKSUTTSTC@A:1@BGF@QSPZO>EDKNO[biwyo[P,*K[VF)75?GX?9F?_NPTVR`g^aVWPUVUSXXXZU[\TW[VWTUcmjhhgd[UVW_^[WUQWZUYZYVRKSY\TIMUWWTTNKPJHPX[YVQLSZ\[VQNLPWYWOKONJ[_WMQYVRUW[WPOLGAK[[SNPOMOX[\[VJDNTYYXSRNLNTVLFELPRWVQKSSNQZVMGEHNSVRPWZSLLPV^]YVYZZSOJIQYVROVVWVYWTQPTYUOJPPQXZZURQTUUXQSTRSRTURWY[WUXZ_a]WTRUTXVUUTTVZWVXUUVMPUSTSNNURTMNORWWUKPPSUWXUWSTUX]ZVTWRSXXPV_]_[TSQPLWOUURTVVVRQVXVQLMJQWSUVUMJNUUUTVJVMPOUWVTOOJMTUXXUUSQMPRTUVTRIMLUOVPTRTRVRTTQLLNUUPSTSWRGLOTWWVPLPXXVTROKOSRTVURQQTY[VWYUOPSNOSUQVTRQTQNQVKNVTTYXRTRNRVXVVSSOPW\XPHBFHLKHMX^\YZVWRRY\[WTSNLUVMQQMIHGFPVRRUSRS`ccYTPRPEBORTU^^WPRTNFLPOJEILLLJRN\VJJZ_]YVQTY]^`YTNNHDDNSUPQTW^\UQSRX[\RJLPRJHMQUTROMLJGRYae`ZRPKLHENTRJLRTTQOOPTWUPPNPVVRIDHNRSQU[^ULEKNOPPEFVZUSRJKMKQXYSSRONQVSOQRUTMISO?CGLKFKRZTMORTQHHSPLIGMPPHR][UZ\ULNTWYUNR\_^WT[YOLOPSXSNKMSZTSTNKTVX]`_[WTVSPS[[[WUQOQPKKKLJOSSNHJJHHV`fc`]\\YVXZVOIBFOROOPSPPPQMDGORSNJKOLKQRTYXVSRTQNOPMLMLPTROMPOHM[WNNQRPUUQQPPMNTSPSXX[XTVYWNKHDNOMEGQZ^ed[VX\[SQPPQJGQRRQWXRWXXVTPQNHFTWRPP]a\VQOMJE@N`a\Z^\NPWUN:BKTSWKRRY]^Z[[P\YW^NA@IOSUVLLMOUVYZXQMKIFGRXXZYWSZ[YM@KSTVTXXTIOPPJR\YQQY]\ZWWSLHVYZY`a[UQMQSIBHOTZZ\VNHKSYXPMQTQKIMOKFGPSUZ^^[ZYSMNPQYVUVQPKMOMHRVPPXTIPTVVZ[YVZS^v€„{bMTRNGDQWSMMUXTRGFW[\ZZVUUWWZ\[WQRPNMPRV[cc^VONOVTNNQX\[YUQURJGMSVWSQPOQSPMDCPRLLTVY]YSNOPPRQQPY_^TY`_ZOPRLCEMVTTTSSTPGF@BQQOHDBLPJORVZVSRLNNVXWVLAII??FJKD<)=Xda`]_UUXXNJOPTV]b`\[ZKORUNJDHNWXTRROQUV][VVVURR\[VPPMIKQRUY][XPQW]XNMMTVZUX\caUKKXebQNWUUUTTTOINWWPKSW]\UTWTUPNPLJKRYVQSOHNSXZXUQNQY[UNY^^YVNJMMOOMOORQPKKPOQMJOVnyyrfRGKH@EJMJEEIJLRUSZ^WPKMMMIQ\]YSSUSPOQOKKPSRW\Z`eb]^]YSNY[\[_[[WSYXSRNPWWSTQSUTSQNQTPGHNPKIOQUROQWTKMVZVNPQVWWUVWTOXWWZ^XWWXVTNU[TJKRSKGHXYXTMPRTVM=6OOIMSSWYVRJSWYTNNSUUWU<@_rwvwzgV[C1TejV9X\J*cVarrWPNUgofc]VXR]`ORVciWX]\VXVYVPU\YXY_\TWUWYYTWVWXWYURTJPVY[[VRKFEMTTQTQMQSUY_ZSPRUWUPHBFMPNOORXXURYXSPPW\YOLJQX]Z[[YTVYUPVVSOMLRQSPQSSUVRSQMQMGGLGLSTQJLIMLUUQUSQX]\ZSRPRQWWSRWYSJJT[^SJHTVVSPUQNTXWVYWRVWYUXZVPSXWOKUWUWTTQPUMWRUTYYYV\_\UWUTXVWTTTVNIMR[VSJITUWNQLMRVVNSOPTPSVRTKPQTTXTTTSWWSWTSXXW]ZVXXNQRTOVWVTUSSUSVTSUVTVTVRTRTSOKNPNPWUUSRSVUPVSVQPLRTUUSRNKTTRSNRTZZVTRTSVTTQMMTPWXVYVUWVWVSPTTTTRQSVVOEIRWQPTOQZXVSMMLTVSOTTTZb[UUZYTPTWZVR\\YTWLEIKEFKSSSNJBHPUSLDGENXSF?=NWTLFJLICJTZZ[UWYXTVY^\ZWPLMKMMKLLOQPJHMKMSSPJMRZ[XPQRHBNNJNPWZVXXURMNRTWWQRRSWNFMRTSRORVYVIKMOTUQQQONRRWQNLMMOPOMGOQPWWOMPQLILROMLHMTYZ^ZYUUUSJDALJFBKOKIILLOQTRTNMLMOWNIMOJHBFNNSMHFFLOSRRMMDCOQINTROHCEKLPWWSY^\TTOKLSVNPQNNNJMORRRPSQOOOWXL[]WPOVRIKPPRONNW`c_VNSL@@NUVUUZ\RMLIIQ[\_ZRQRRPGHMPPMEHJKNQLKOUUQPPPQILSOKVWWRKMSXVVPOTUWWXZSRVVTUPNIPW[XNQPNJKLQORNJLKLHJKLJOTZWUXXVXWWWXUPJDIQSUTRQFCMRSSQRQNKNQQT^]SW\XPGHIMFJNSRQVUQNPSOMRVS@MVQHIY[USVWUV\YSPLBJOJT^\QORRSSSRGIRSQJNRQ>Lig\VYYTWQY]WHIPY^`^ZTNNKCFHPRUSRRSQKIGLVWRTURFINPTVOMIMORSY_\RMJQVRMPUZ_YRU\^]TNKT^^UV[ZSOUYTQKIQWVRTVWWW^^ZSLKRQRLPYZXWVSTYZWPRQMDJSTWW^ZRROFOQQOOSSRONGMQSRTNGEViqphZRLGMSUWXSOLGHMPOZ\ZYVVZ\TOZ\UPRTURMGKA0=LMUWSY\[]\XWWYYXY^\][^ZXXVKHN\]SKPWYXUNKFGLJKSWTNQN@DACRTMFKUSKMSUWUTTNGCMPSUQKBLT[WSSURKKJLD=CMQTTWWVWRITS.LZZ_isv~zjOsw]*0RJTWXfZKSSKQWMUWWRLLW`\Vdjf^SXVXYa`]XXVVXXX]VZ]]WWWXXVWWVNMABOUWWQRPMIOPWZWWWRWWUKHKQTUOKKOXWTTMMRPGOWYYVPMSVOT[]\]YPMJMNKHRQNTTUWZURUUOQQOJV[YUYYXVRMNRRSXXSNHJPPHGIOUPIKOTWTRNKRRUYWQQRSUS[[SOVY\^c_[WUWTW\`YTZWRPVVWVPKQUQKKMQPJLUUXaed[TSOTTXUW^hie]VVSWTVUPMQKTVMKTVQTWVMVJLWSLRPRRIVKLMPLMMUTVJMYXTLXPTVRWLVXSMTVRQUSPSSMLTRROSVVWPUWOMQOOTVSNWIOSTVQUUQVWXROSVWSWSOVXWTSVWYUXZXUTVJOHINY\^\UEJQQRUUNPWVNILSWWVUTUXZXMHNSWWVPV\ZTUVVSRPOPU[\VTMOXZ[ZXZYTSQKOTTTRTTONLLQPOOWZ^\RSSPTYSLNOJJH=CSWW[Z]YTOY_^WTYYVVPGGEGKIOY\[XROW\[XX\[UJIOSNLNQNHIKW]\USQQQYUOX\YZ`]VRMQLBFSUPMKEFFIFJORVY]\UUW\YWYXRMNRRRXWQJGIKRVUUSKDLSVZXX\^ZQNTSHHRQQNNNPOPMNMMJPPQRPGKQLIHLMMNTYXOJJHRXVMNNRQNOOMJFFDOMKDJPOLNHDPRMNRVRRRPRTQNNQQROKSVUQRONTdd\SLKQKFMU[ZV[]RQXRVUURLDHRRUTO[b[TXV[`_`bc`QIGJJOSVRPNJLS[YQOVVUWVRRKMLJGONLJLQUQPWTKDLY^ZVSSKD@MPSRRNJMLGGNOVXUPOVRICIJMQQMFAIMONTYXOROOQMJLKNOPUTQOJIKQTUWPMONOQRQW_\V\]VTQVXUJIPQQQPMLGGLNMJMNSPQJJLMILW[[TTMGAOOQTKFJISYUWSHN[a`NISSNE@KVX\USRNVUQAGRPNRRTQJTYVXVKBJNGMSQLIEK\]^`^X\_]VRRNQUUSTSTPOTVTUYZXRT[[USX]^[[XTTQKONKSTNQU]]YWZZTKMUY\XRKPSURNVUUYVRTSSQRMPRNQSRRQRUWZZWQW\WQPSSSQQPQOJDKMUZ]][U`oqj]]XUSVZbb[QMPTZZ]eicVTYXSOQSYWSRVXZ[[WXRR]`YPNQX[_`][WXYVY^abZWZ[VV]_[TWXTMEFLKLMORTSRPPRZZRRWVTRQMKLVWVPJLNNVUSSUZYSRUWXNILRTSNLLKSZVKSWUQTZ^VAAAHQZ^\\cd\OW`YSYSLOUSF@HR[UMZQ::\XTdqrr}kSqjZN[heaPR_hXJN^[KUWXPKLLUfncTXc]XT]b^^YZV[`ZXYVUYY]`a]VRSUTVZZGBMY[XUQPNHGGMUXZ\WUWVRPIBJWXYPJHQUYZXSTNLORPTSNLTVX`a\Ya_\ZZTNGDINMQSPTROMPVVSSOHJRSPOZWRPOMPSUUYTPJOUROIDMTRNPTTUXVPNLPSWXVUUUORY\UIOXZY^]XUTQFGPUX``]X]^W`[UTPWUMPRONNMTUXW[[XSSNNTVUWbkmd^XUQSWWWVRTSUTTJWRVTWVQTSVOLSTTTPMMMJJRSRPNOSUV_ZUTVTZ[UUUXUNRUWUWRRWTTMQTTTIUKTRKW]ZRTMIVMQVRWTTXSRVTTQRRXJMVTUSQOKVWTUSWZXYVPUVNLNOJFORQSECLRVUTYWRWRMPPRRONRNTXXTLOV\^]\ZWZWSTVUZ\XTNTYTLJQT\WQJOTWOOLKGNUUPQPHNVZZYSURQQQPVTKNWTRQMHIKCBNNKMTSQKQU\\SNOUVWVJDJLOQSQPSUNIS[\YUTWVNGJJKNLNRTUXZWTOKQTUUPLONMRV[YQQTRPILWXQHKJHMOLRTOIPQOZa_XVXUVWPTV[__RIDHORPLMTTQQUVY\X[][TQTXNCMUVURPLJKF>>HPRORXYUSTRMKJHPPKPUYWPJLPF??FLJJMMMPMIIJNKHJPRRVSHKPNNVTSQOPQSQNEFPRLORSLMSTQPU]TSMCLORVVWXTUZ[XUOMNPMMIMOUZWNT[VVYZOFJRW[ZWNPQKEJSUVRSRQVYMMT[]VOKKNNODFQZ\UOPUTY^XHHEMSSTVWWTSOROQQMIJOJRPNPVTQNRQMPRQMOQPJFMVZSUY[UQQPRPHJKKQOLKHIMRXWUUSLNOIJOMKLQNU\bb]SPYUSONPJDMSXVRUWTNJHOQPGMTRQLJPLING@Q\ZQPMOPONWZVSRW]]Q89BJJNMZZ_]QQZ_[WMGFQTNJETXVZTQUWX]`\[ZRKLQQRVXVa_XY`\TONIMLSNMPNNINSQMLPVUWZXUW[[VVXSOVVQVYVPRRQQRRLKY^YQLJHTVRUVZZXVRQSXTSY^[\XSRTUQKFMPQW^aa[UTXXSPOHJMKPUWOHLNRVXYWSYgnm`UQONLPY]VPRTWWX^fh_TORNHLLXZYVXZ`db\YRPOV`]VSTWZ\Z_^YXUT[__][VUTSRTUSRSY[UNWWQTXWTQRQQROWWPPSSNLOOKNSRLKKORT]\SOQWY[SPNQQNMR[\WPSTQUSMPSTMIS[VIEIMSRWV[`c^WSYTKJEB;?BBCERT_[[`PFDC@]ccadkS]h`\U[?UJV^lcWU\[TVSQKXSVYbdbeji^\W]XNUZVYWZWNWXXU\cb^\XXWYWSYXYKKTZZWMNTSQOOOYZUZ[UTRSTWMIMNNPMNLORVVUPLPVVSSSNMRVbkg\Y_ca]Y[ZVMGFJTWVVSPKKQVUOQPLPMIMY]WXZXTTUSRLMMKPTROPKNNLRVRMUUPRQQPPWVTURMQYWNQSSU\]\WZVST[WOX`^Y[`_TSVUQQVTUXVPSSTUVTSUVTSPIWNQQUY[WXY`^WSOJOTTVSSRQOQUYWLOTVYSQWVSUTMIPVURWWRQQUUR[^ZUTVY\ZVXWWTSVVVUVVWWUUWWSWUSQPUWTVVTRSTTRPWYTNTWWNOUSPQQRRSSV\ZWUUQNXUVRRTZXVJVNQSSSUTZ\WPWX][\]]WVXYWXUOMOSSUTSOLJNV[WV^[YXXSXWS[^YVRWXTMPSVWXTRPMRSNLOIGSTRTTRX][UOKGGJQKLPQGIQTTXSKQVTQONMPSQLBNTUYWQNMOWZTMSTTSJAMVUPJLNQPNPTTRRQNORRRUVMNRULGJQSQPLNQMPMHKQQPTVUPOOUXTMLNRRTSVOLMPT[^ZSRWPSYXTVX[ZPLLPQTJCHMOSTRLT]^bebZORTSNTZVLLORQSRJ@ENMIGILLQX][UNJLIEISXTQRURLLLPQKHCALXYSJEJMNNQNQZ]XRSLMPSONPRSRNNBDKLHNUPOGMNDMTQLMSLMMMROPVWRUXSHDKRWWSWXQQWPNTXYUTNHDTUUTVYYWVMEIOXZ[TONNURINROOMQRVTODDV^[VSRTW\]YWSNKRTSQVYYXXVTNQVRRPMNURSVUPLPRRVUMPQPKLSTUVWQRSXXTPLSQNFJMQOONNMUWTLOOFJNOOLACOHDJS^d_XTXYVUTWSPNQQRUVWSQOI>GRWYVTTVQRPHDMR_c`[TQW\WNOUVVTZ[[XKNPUZ[VU^\ZI:HX_[TQURMES^UKFKIMMPNJRQSSWYWQPWXSLH@>MSPQVWVSPRWROLTROOPVYXUQSOMMOUTSRPNQRPTWXUMPTVUMNUZYVTVVUX]YZ[VSQRMJOUPOTUVYZYVNA5(DX=fJMLLQgrdLolqqiTWKU^VLTUNNe]LLRTY_\X^b\YWXUYZYYYX\UYWTSXZSORSMQRPRVUTQSX[TUVWSKORXb]PLLMSXURRSSSRGCP\\UMMTYVROOQW[VT_a``a_ZWSTWZZVQLPXZXYSONRTRSUTWTLIPOTTVWWUQTTVXYWVQSVSPROPPPLKQSPYZWXZVMIQUSWXI@=FMRVSKUVSZ]`b_ZXYUTLMUUVQTRRRUVVUUTWVUTSUMLTVTWVVTV][VZWKJKNSSSSUY[USOSYSUSUTSVSRRWURPSSSVWTWW^a`[UUXTOQXUVQSXWTQXYUNMTVUXTTROSTUTSPSUXWXQNMTUUNXVQPOPWULUOUXUNUOMUUWVTTUVMMSUSOQWKOUXUOOMNOT]ZUVWVVOJSTRWVPRYXUV][WSUSRV^\WVXWTNIKVXRFELORUXOJMJKRXRFIUXTTUPOLGLLKMFEORQUSKMOSKKVYSQPNQONQPOOMJLNKCGOHFJQTSRVSRRLHRUYZVTPPRQONNPTUTMMQLOU^]WUVTUKDCBALOLNX[XSVW^VTVXRLMPPRTQNMJMVUVWVPNNQUVYYSRXVTNLPVVQMOMOWWRMJLIJOMQVUVURQNXXYZ[WRTNOURUTONVTNFBIWZQPX[ONKGEDEEIKLLPSQTQJFQWURNNND>DSQNNFHPUUZ\ZSLKPKBJQNJLLHKRPLKMMQT]VNSRKPSUUJ>@IJNMOTZWWVTOQTZ`_YVY\\YSPT[\YVQR[b^[XY[UMDGGELTRNNUYUOFJONRU[_]URRYXPMIRXYUSQSWWTQNIKX\SSPMPTXY[WNONU[ULVXPQRTPPX\\ZRUTRXXSPU[ZWRJJQSSVUYVMNY^Z[\[VSSROPQOTVY\YUSSZ][ZYYYY^_ZYURSLKQRUPLKNURUVVSVVROEENUQHGKQNLOQVVLP]b_ZURROOPXRWVPLTVSDFQW\ZVSLTJTZ^_YNHMUYYSPRTMKQSKHIHDCJPVZWUVTTRD=9;KUXMH?BH61F@IQ6XTC4-5< Vsydljl{[KYj_]_b`VSNUUNNVSVcZSKXU^`\a`Z\`cc]VYZVVWUVUVYVUMMQYQKIHOUTQQ[WUVVRLPRQUZ]SLNQURKLMLMMLKOVWYTSOSRQUWVU\_`\YXTXa^YVWRRZXPIHRZWOPSUOORQRPPTWTSQLNSS\]XQLLNPWTQORXVY\YUQPOMUTSPPOPVSR\\XTTQMHOTUUOPOTV[a\TRURR^W\UXXTSSNSTUVV]`[TUTWWVSSPLVRRVXWWXTRU`]SSSURRVNMSVVQPVWUURUVVUVTSSTVTURSUVXWTSSU[`YTPONWYXXUWVTSSZXRXOQTVTWYTTUTTMKPX^YOOUUVUSUSTOQOQUYWUSTVTTYXQSOMJLSVYRNVVSOUWRWSZXIPRUTRTNLPRPNNSTU[XSP\[QQVXZY\ZV[YWSZ[Z[VUW[WTNGRRX^]YJOOOW^]RQZYQPKEJKHEGMUSMRQSVUVOIRRPPQOOOLOPSSTSULCBMLGKPGJKORQTSPU__]VWZZUWUTQRTWYWVXYVWWNKW[WNUZXUOINNLNROQTUQWUXVVOLWVNOSSKFELRUUSSNTVWQIJV]_[WX^[VOIOQTOHFJMOOKLLPRKJLORPMMSRLPPU\]VRURQPLMVTRTZNGHOUUMQWYVSSPNQPPLHHDBHNQPQKJLOPSKD;KQVQNNJ>KNKHSWYPIOPNPVRHHNQWYPHLOUQW]]UVRUWWTXRHHOTWRLSZ[WX[QJQ^cb[U]]ZSKPVVVXVNN[cbZTSZWMRQOGFQVSRUW[WSTXVRPV]]ZTOPNLHMVWTPPRPNPTSSOLMSSSLEMUVNVTSWXbbXLKVVUTTRPRPRTUVSLUYWMQSSSZXRLTXYVMRTSXUOQWXROPUSRRKKLLSTUVUPLKNNLQX`^\WUROJLNMOTWXY]YTUNMUVRLGOUWL;@OYULFJUUPT^ZXWSXWUUQTYVOGPTVYVRV[^VRNHUXO\^a^TONVVTSQSTRKQRIMQPROPRNLMOUVQMIPU]YPINLRSUURRSS]]WUVVUUSLFEOUTNJNQNSRLINXSMNPNUSVUTPTYZVPKJNQRWSIEKRSTYX^c_VLLORRSUSKJTVVPPQNURRLHHQNMPJGDLQSPVq€‡„sXMMFGLOPNINPOKPV[ZVSVUTQPVYW\`^PKKPRPGKNMSYY[\VIJFEICJQW\ZSR[[Z]WOOOLLTVROMKJQRSUROSWQCOWZSPOGFPWRW]]RKOKHKKJGLIAGLKRSQMGJNSUY[YWUUXTQOSUMRWQUXXVQROMQPJDA7?NXUHTNU_U>@<@INW[^]VZXVXRDRIP(12DWZ):=8<sprwrTQKiyjYVWNQW\NUOZeiSSNOWXTQXaYXWZZ`__^VPLMVYZUWTYYUXYWTOMLIMLLLQRPRVROPVUNU[YSOLHABT]\ZSIJRUTJNPSOKPZ_WONXYWXYVWWNDLVTPQMCDQWZSNNSSQQRNNQQTTXVRJIPX[\XSSRPQQOEEQURY\YVNMQRQRPRRMJIJPZ^ZYVTQKOUWUTSTXW]d`TRTLU[ZSTYTRKHSSWZ\_b[URUUWUXRNNRPTWXUSTPNUce`[YVSTQJLRVUPLVTUMRSNOVWYVROQQQTPUYZWSRSSYdaSLMJRXXVSTYVMMQSTUUVUTTSXXVWWMORTZ^ZXTVNNRVPVUVWWVW[XTUTROV[SRRNLJSLS[TURWWSSXVMXUXTQRVTQRTUSUX[^ZONVYZX\]NJPQOPUUWZ\WTNNRSORXYVQNJOSU[YTSMPBLUUPPSQJJMKHNRMMPTKENV[WYZVKFMOSUUVONLMQSOPRNFKQSLDETWXWSNOOPOXciid_[XYZWVRTXVUV[[[\[XSW[YTV[[[SNSRSTTONRUY]\WYTOEH\YWTTTLEPXYYXZ_`^WSHDO[\YXY[WRLGOTW[TNJKIJOPY_]YQPSSLPQNPNNJP[[WUTTUVVUUUOTVPFFSWQFJQQSURRTRPKBILLIONEJSTOG>ILRNMRZ[ZWRNOQTOLKW^\RPLQVTNLQUVSTQLMSSPKRUNJKPX_]]\UPMVZYSLPQTU\`XPOTVYSSUWSNJDSRSXXTPQWWZV\[USUXUTOIQUXPLRSQUYXTMRVVSPOLNVXZZZQHELIGKLNQNHLSTRKHLQSMJNRSVad^XVRSSQTTLEFLRT[YTSSKFIIGU]_UOPX\ZWSQOIOQV\XOSQRUUVSPQPMORSSSOLJDFJW_c^RUWSSROLPSWY__XTSUWZ[WQOJPRSKKU]`YTTYXWUZWLNSWUQZOOVXKFFJVSMX[`WMOVPF;=WTPNIQUODJTSPOSVVSPVUVXTMHTVTJA>FKUTSRRVTJISZXUVWSMOWWSMMIMPOOMPMLOTWSJABGPTVY\VSVY^VLOTQNURNTXSQPRUUUQQSRQSQOPOMOURYZVQJHNLMMORWTGFJONKRSTUUWXVQLPQKGNTVRILTWWVPMJOOV^\RLJJNS^YWVPOUYXTGL^jh]XTPPYXOOPKFJLMMOSWUW^\SW\UOQUVMGEMORQEKNPWXVTTQXVU]`\WQRZ\ZMLQSOUYae^XYVRMPRSRYSCNQJNRWZSRU[^UNSQHLWTFBP[WOKQPLAEPUVOPBHJZe^TSVY``fecbfbSRJE[ORPKKSXURSVXRQIKOW^]UQZWOIBDPNOPUYQPQSOORNTTQMRYVNRX\WSYY[WSOOZ_]WTSQTYWTTPINQUWZZTORUWYWUXUSWYSKQPJCO\ZQNRSPNPQLKHHGNTWSOZ]XVUSOQQQQPQUWUPPT\YTUYbqthVNSVTOLKKKNJMQJLR[a`ZTWac_[RMLOIL`ec\WURJPY]XUS[ZVWWVQONNLJNMW[_dc\XZ[Y[VUVWOIIPSPSSRRY\VRKRVZTOSVUVSOKLNPWUSNOVVOOONOPWRPPPSUWY[UF=KRROUUFHQOBI_b^]YVXSTLNNPOXYWXY[HP[]ZQJAAOV\YXLNVI@NPILTThgE' 5RNAclpopJ^loVQRKVSS[YWXZVfhe[ZYZ]a`UXbjh^TXUWZXWZ\YXWWYWUXXRRMINUXZVPSVQNQPNNRVUOSUUUYWTTRRUQSPPOKIRWZXVKHGFIKLJRS[[TNPPIFPY]ZWUTRROLJOSOPPSSV]bb\XXYRJFKSV\`[SRTVZ_[QKIGIDAHMPOLFHNY[TRURVWUTVYXRLJHRTUTMV]XTHDKPNRZXSOPQQTRSWUWRTVUUMWNIUJTTSWTURVWWQTSPJPPSSVXWVMOMKKMKJLLIULPOSURPKVJPLRZa`XSRKPPTTWW^`^TTTVVYZXTQLLSWTXTXTTQOPKVPSQQS[][XUSKRTRLPVTXSTVXYWZ\ZVXPOXSWRR\b[]VYURUSLTSUTVWW^]VJHMNTX^[VTQQVVY`[VUT[_\SMMKSYWSSQOIFHEPUORY^[^\ZVXTKMQONKNNIIPSXZ][Y[[]]\[VKJLPUY\[YSPRVQNMOFAHIKNRWSKKLPSUMIOSUWVNMPRKNRRYYQMNVXMMSTKOTILRVXZ[WOMVRQXWXVSPOOQTV[ZRIFFHKIYTRSWTQTQNOPPOONSVQTRGIUYZTSRMTROPRJIOUUTPY^\SLJRTZYTONJMMKOPRQMKFDIMNPKXekhheRHOSOEDQSNIFMQRJLSNLPOVVWMHKMIILRJ?BNOMPRVUWYWMFFQSPPLNQRPPQORNKNTUQKOORWUZZVWYT\aZRVUKJPY_]RLJMPSQLRX^WNMSUVZVSX[ULGJIQPJOQQVTNNRUSSUQTRSPRQNNOLCDMMRPPRSSRRVROTTS[ZSPPRQOTXTPE@NY^XQPRU\`]YURUPMUWVUNKPPTPIFQ[ZNPZZWOOSOKEGMLDBJNOLPQSRNKDGUYWUNOX[VNGLOPV]ac_VZ[YUKKNUWSU\]UM[bbVNXcg_VTQPRWVMHOXTQRNLIFORVVPEDNT\a_\\YLOKNcY\ZaV@GJHVOIPSRIVUVWZUGHJQSUZSIY]TLHCGGFMTQCIRWPRTPRVOSZ`^TSY_^WUSQROKJNY[ZWQTYYXUWWQMSWTXXWXW][TKNVYUUVPOTSKKTY\\\ZZYWNFKTWUQTVYYRQ[ZXZUPORVSOQSSSQMQWVRNP[goh[OMOSVVWUQKCIJ?GVYZZQMTZ^]XVOHIHP_decWQSRNQQQNPWZVVVUQMONNVUZVVXZ\XXWVVVUQTSKGHQOJPQMKNWVPHQY\RMSWWXTRQOSRSRUTLRUQRTTRVXYPOPSZXRKHEAJTUQKKFKRMCOUZ_]Z\[WIW[XXQ[ZQLNQF@X\^S7;Sa\XVVMDCJ`a]L3:gpjH-1VU)5}zwm\Ldg]Kfmp`V_l_[Y]gf[OPV[^`\Z[ab[XMRQ[a]RW]_^[[TUYWYXTVRUY[XSRQNMMRSQPRSTRQTXZZVNHINRQQNSPDMU[ZUUPKJJEDGINPRSRUYWNISV[YWSQVRNLKJNNLQPPLORWVUZ[YSMMJPRSNPWZWXXROOLLOQTQIILKMIONTTTTRVX\ZYZ[UQPMMSWVPIPPUVTTWTQSTUV[WTTSTXVUOSWXTNKJSRQVSOXTVTXTVJQVILMOPUTVTPRPPRONNQSTPJRTPVYXTIJPQONTYVRPVSSVTRQWWZWVTUVTUTVYUSPQSVY][[[WVVSURQKRUVVXXTSMVVWTU\ZVSVVTWV[USXRVTMRNST[b\Y[YWIVUUVZXYYWUWT[\XQLHFQ]aXUQUY[^a^TNIIMOKIMQWVUYZYWNDIDNTMP[`\SSRRRQHNRV[ZPJHKOROT[YYV[\WZYUROIPTXUUSRKIOTSPKFFKNPSWWNJNNMSRONLTSTPGIIHILLT_he]MJLKLRPHSXYXUSUUVUMS^[SUYYTOMEBMUX[\YROLLHKOSOOUVUXWURLIMQPUUUVMHKW[ZYXWVZ]\\]ZPJOPNMPVSIHMTTUWROQNMOMKIIHHHIQLHFKOS[\ftujRMRSNJKONB>CKIISYVQJOUQLRRSX\XQOJA@MUX[ZXVYXRKJ@KMNOLMPUY[SJQUROWZUKKQHOQVZY[[PNZYPMTQSWWWWQQLLMKLLMVZWOOUUU[YQQSROSWVTRRRPNKLGKQRWUTQTTUQQMHNOKLWRKLRQVVVW[ZTJIMQV]YRRSPMJNPICFJOWVRRRLOX\XTWZYWWQPUTNPRWYTONSUOW\`\SJLPJIMWQMOTNDO[YTVVRNQSMKSUVVSRPNSYZWTXYVTSUTSHFJLJOZZVNS\a]RKP\a]VRTPNPUTQPMNQSKFKLPQRSTSRUTULJI[d_SIWkqgc_VEFRPFMNMGOO[X\`VFHIDGTcie^YTQW][XSW[\RMUPPQPOWTRSTRRNPMJMQSQPNMMOGFLVUPTRUPRSUOHMPRTTPTRUUZY\ZUUTTUTTWXSNPUPOSWXRSNSOGCHKIDELQPMCDIKPQQPPLHNZWJ]qwviXTVSJFJGBBJJNOTVYXQONHKVWVV]]UPSNJLNTZ_`ab`[SGMOPRQNMQUZ[SLLWXRTSNDKPOQSPQWZ`ZVSMHRUXY[[WW[[VKPURRUYXTRRQKKVVQOSW_`]WNHRRTUPPNMKQYZMOQOQSTRIGOPRTXRNOOPQSVVTQSRQX^fbVNTWMNY^[PJLPTUPRRLLLQST[`__]UOOVVQPQWUTVYZWX\[UIJNOSS^dc\XSMFLWYTQRRMGOLKTXZZVUXRR[^\VSUQW]_[TEGNMGOZ^XVQUVOFLUYZZ[WSNLJPW[SRTVSPKJGIHIELSLH=Nbc]FX_XMO_cb_bS@IPSNIIOKCRWTXUUQIJIKRKP[YRHOV]]]ZZ^]\]]WTQRQRUTPPQQOKMRPH>KSUWVRMHHMKPVXVPILNWYYVMMIKV]\Y\]ZSUPINQKDN[XPMMU]]Z[XJMWXTURORPUWYUPSRMKNSW[\XPTVMOSPCCOSSVky{p[HKOUZWSTODFPTTPVTWX[XUUVSWYYOILLJRYVTUUUY[SMOLIOUXVPOTONOVZUOMNOSYYXUTRRWXRKNRRSPOPYVGDMPRZY]ZLHJPNQQPQPJMSSRSNMNQQSQPLHMQSVQKMKSYMACGMPUZUVDERUPKDD@@Q`a[VNV[\YWTMM]XROHV_[OLTP`]4=GNO\eacfcFOWjmillgE.RQRUJRQTRd[WTXXY`]WYW^cNPJSOV_^dhaWPY[ca_[^ZZ\XVVZ^[]_XWUTVZ]ZVUWWXUV[VLMMORSPTVVVNJQUSRSRQPPORNMWSNOPLNLLY[\_XPSWWYWX\][\`]URTRV[WPTVRIGINQRSOJLOXbb_[UUWVY\^XWQUSROTZ]ZOPPMRY\]XPNHJTRV\ZRRWWWYYTOOORX\^[\VSOQXVTWSOXTUSVOV\\[VPOMLPSPW[ccXTTRUZZUSWUPRWSOQVWTWSVSSUVWWUWUTVOUVVSQLWKSVZ^ZWTUUUTSSOKVZXTWXWZZWWSNIKNUSUWUUUVSUYWVSTQQROOKRTOQSVWSTWXXVSTTTVURUWVXTXUXVWPRUYTSVWVWUTPPUTTLMROX\YRMT`faVVTNORUWTSWW^a`ZZ[]]YWORSOYYZTPPQVUNKKLJQPLHHGNQNNQRRRUSSPTWUVOLMMSVWLKU]\XWYSNSSPSSRX\[[[[TQUSRTOSZUCEIPNFFEAGJXX[bgc[QV`a[VWVONRWURNPPRUWROPXXXWSPPRLRTTVLPTQSSOMNMLNOMKOSWXWYQSW^^^XUMMOQVWRQPKNXYTLPWTRSRQSKCHJJHKOPHEDIPOLMOQRNFNUTKSbpuo`TPJIPUUQKPEJQILQTTPLJS[[SQUWVWWWQQRQTZ`[]c`YWWVSSTUPPV[VMIKUUQRLDJPTQPRVXYXWUVVQQTSMSVYUX]_VLLV[TZ[VRSLEKQUWOMO^c^VMHGNSSUTPSWWUZTJHLMUWXTRTVWSWVUVSYWPPSODFRUSV^ebWRWWPRYdicTMS[a\TJFBCKPSVVVUZ]\SUXUPQSPOR[\USRMKNPPQNRZa`XPOPVQJDGMQVUSTULQZYQU_bZPORUUNOQY^ce\JKPTLOZZXNOUXNIDNY[[[]VTSIHTUUWZURLHCAAFJFIOMADIWacbaa\JHTQH[ZQSLKINRPLYXWPQYZQORSH8?DDQUTORW\aa[`c`bZJLMQONQSPRRUURQLOQQRQTTQROOQOQOTWSTUQIKPRSYVQPQRZWRYYXVUPOQRNLKQQLHELXVTURMWXSHHNLLOY[[XYZVUOILOTZ\VT\[RQOMCCKKUnˆ…qMJS]`XRPNFHNOLFLTX\\XXZWVV\]YRHGDKOMRUPTZ\VMNPNNWZZWWPNQURPSWY[YVRPRWYXXZXRKGNXZZZYTRMKQOUQT[[PHKOQRRPVVSNSQRPMNUURPXUNT[[QMJHKLQVH1>HMMOQLGJRWXPFHNRSZ^\WMAHUTXX]OORV`\P\_YCMNU`YI@FDFOMLUcd[GNNBTWgmigiT`adRLWs‚v_NOPVRPX]`[QPTUJ\ff`WYUWTXUU[^XYVTYYVX]]WVVWWVU[ZZXURWYTSVURRSLLSTQTUSOSRSWYUSUYSPGBKSSJIHKSTRU[]_[RMMQUVSWYXWWOMVWVT]XRUVSMKQTMLTTJKRW\b\WRRSUYWTPSVTVVNIS[YTVSMMKT^^[XSQV\_^YQY[TOQQOMTWX__VMLUTXQOQRQPPQPTRPUUVVXUUPVXYSRSZXUTQSUXYVRRWNNOTSTTVUVTSPRSRVSX\`_YTLOOLJOVWWac^][ZZSUSRWQMUXWTOKQUUSUUWPTXUTVTVVUWUUXXUXTRV[\YRLPMRNQMXW\YSSLPTTSOKQRWOROOTWUMJWYZTWXYRVTVRUSWUQTU\^[WUPW_\TSQNR\]_\Z\ZXZQNSSOJNRQSWXRVVPNJHIQWVSNTXUMKHMSPLEIFDFKRUTVUUTKIGLMJGMSY[YRU[UJJLHDFJNRSUVXYXXSSTSTVRNNPRJBEGJDNVYY]cd\SRXWXWZZXYXW[ZVOIQZ\UQZ]ZQQQPQNNUUSLGOWSUQKGFKLMLJPQUVVVVQUVZYWZVQOQXWYYYUQQQUQSXZWTSOMQURNKKHLRRKFGCFNPOKPWXOQMCAHOW`bbaYTRQW\URVOJKGLVZ^\PJPYZRIKPSUQNQQPNNW]WR[a^YYYVWXYUSU\[PORWVS]ZMILKLHJMTYZWSTXZURQKKNNQXceb\TXW\[[VWZTEMRUWSNJR]ZSKC?MWRKKKLPRUQJDKRVYTLMRUSSSTRKNRZ[RRRROIQWSOX_ZZTRSOOMV`bWLFT`cZJCEAMTODJPMJSTV`c\UQPPKNTXVRMGPYWURNTSVSOKPWYVNHJMSVXTXXQLTROMV^YULKTTQNMKS[b`^YWWUQTZYOFQSRLEHW\X]__USQMRVYa_UKJCEFFKIHLQQKOSKIQ\c^TKQQNNSLPUQDCGYXKP^_\MJY\VOI?DMLELRYROWXWVT\daZPNNVXQIMQTPMRUUSQSPLTVOKFIPUSTVZ[WYYYSTZXVTTTTWNNQOHLOSTXZXTSXWRIIJNIMSPMSQRY[RNRUTMPUVOT]^VMKKPPQUXXTRQQSQIGOKKQm„’“…iJOY\XRQMDEJMQPLOSW\WXSSQVUUYXPNQNKNZ^YRTXUQXYSNPW^_ZROSSNIGOTTSXYTSYYYVUTSRLU\XUZYQLKLQTSOMPQPLMSSTMMT_ZRJLNPOSTSNFNROUYVIBHQWTWZTNMRSQLIMNQTSTSRWYSSY]\YSOUYZKZ`_QKKW`QTVIC56LGO\ZSLM=IW,:BWK9IbeimgjvuoUTp‡‰|NVKSOVRWTUYV^bigUdhf`_\XUVXTYZUTUUUVOUX[UMYMYXTWWXYVKMSUPPU\[RLHKLPTTQRVUMPVUPQNMDDFQXVQPNIRWWW]db_VQNMNMOUXWVTSPUZNMVYKAIRUUWXTPROGDHPUXVPKKMPSSPQRPKPXVRRPPVX]XWQSWTNPNMSZRQIAGSQPPQRTMMQ\_WLMOSZ]VQYZUSSVLUOUVQMS[\XSTSTVVWTSMTQZXWQNXVUSILQPNPRUTRRQPPSRLNTWVTSVJUKSPLU\aab]YYVTURMJLNVTTSQLTTQQQRMWXXTTSLTSWWVTVX]\SWX^_YXSQKNTRUYWTNMPPNQNJTV[SNLMJKRTTMS\\VUXVKRXXURRQNKNWSZYZZ\]`ca_^ZXTX][VSTRQRNQPE@=FRYX[ZURSSRUXUVVXVTTXYTOLFLJSOEFDGMNTTORURQPIFLIGFJNQNMQWTLELNKHKNPSRY[]][UUUWXXWSVXYSIGMROMY`c`XQLRXULOUYNMSVVZ\YQKW]\\VUYYSPVWRLJQSUOJOYW\\ROGGGLHEJQOMEHOQRYVSURIMKU^b\\YYWSLCDOWWPQUTJJPNIFHHKORQPPRPSPRRMSXUPMLONHHJU_^WWWSQOORTLHEDHPUYXSNSVRWPGOXXRJJNIJQUYRKQTRRRVUWVTQRTPMRRWVTUWXUORSRRQQSWWYURUYYPNRSMPOT^_\X]^\VQLMZ_ZSPIPWVTYXXZYYTLS[[TOPNMSTNHHNZ_`WMPUSMMTSVRJEKNMOTVPDKQPLTTSXYXUUVYVWVPOGEU\[SUSKKSPNNRPNKCMY^XUXXUMOVVWVNGMYXSGIMONFGHKOMRRURSSXTDKTQKHJMKQYZTQUVRMOSSX^_\Z[\ZXSPRSPOMRSRURUYUYbec`[YNOW_]OEB;MQPRPINXYMLQNJOPNHVZ\PMYZKW`\F>5WYILab[JX`]RKGHLBAS_`XIMVVPQWUTWYVQRUVSCDNLJLPZZXXSQUXTNHEPWRLV]_\\][WY][RUYUTXUPNMJFKSYZ]ZUOOSSPMPQNNWVY\[YXWUTTVRKQQNIW^ZROQV[ZXWXZUMJRW\UNONQY\y‹’’‡gMKPTWQJEAAOQQRPOY[YURPQPOOPRPTYSKT]b[XUUUX]_WUVY\[ZVXUIHKOXWQEISWSMLRWWPSTTW]VMORQSPPTYUSPIJLKKNROMJRZ\XWRQQTZZYUQNONNTROJLSVTTVRNIJOTVOHFO[[TKOY[XSPPQTWVWWUWNVUUOIMMNIFQ[XTPFS^ZVJJ@HZY0@PMM!$?7*YY^Tiqi^RTz‚pbUWLMUSRPKUY]\abWV[VYbcc\cZUXUSWVWVTYVU\TKQQWQLOPTYYRLPTXXZ`]QIKLINPSSQTVUPRRROI@HPRPPNKPQRRWUU\^YQJGJMMLOYYXXWTKLQQKPQMENV[[UXUSRTPFEMPMQUSOINNNZYUTPRQTPLJMLPQZ\[YUNKOSOVRJLPMMPPQPTWXSKT__ZSUTS[_[TR^]TNPQWY][UXVTWYWSWSVW]WXVSWSYTWVSUUXUVURVVTSULOPLQVQJMNLQSSRTWOPRPPPU[_[UTUSWRWTSOSRSUWSTTZZWTJWKNSTXPMUUUWUSX[[TVUV^`ZWTSTUVUWKVKNTPSUWNOVWOMMMKXTTWQSYXSY\VQOSTWLINQQSXVTST[[]ZY[]_^YRQWTRPROQVVTJDJGDNVWUTQKNTPTWXWWXYVVZUPOLPQQROMKKQSK;BUZ\VUUTSUUSOJPMRUW[[VPOYSIINNRWXXQOPOQW[WVPPVXYTLJKQYYYZ]XOINWZXLNX^_YZW\[XVWRTVTWUOU[ZROPLLKPQPRKNVSWURPNIOLKNQRLIDOXWXWVQTSVSQV__ZUUUVVVRQLRTTP[ZRPYXVKKRVVVSRTRSTRNMLNPNFIHGDEIOSSWVWXTTVSSRNKOMJILMIGHPPU[VQQUYWNJGJWPORPNTWXTRSUUZYRTXUMTWTWUX[[VPSXVVTUY\ZYZWTQTTPTWQLKJT\]]\^ZXQOHR[YTRNPRNQX^\ZZ[WSS[XVPOBGVVKDIQV[`[UUUUPRRUYYNDOTURT\XNIQRQQLLXTPPQUY^_\ZWRLOUVX\YPMRTOMIQQOIIIFGV][QJOTUSYYTKNWULIKOPNPJKPSVWUOPMPOG?INSOFFS\^_^Z\TSMNQRX\]\YTSQIMPRPILLQSUWURVUZdie_\WPMSTPHJOIKRSUVMOVYTPOQOPRKCWc\TRVSO\e^J28R[PJMS[YNQWONJJLRMP]edZNAMUZ[UI@PXUPKS[XNGGJSVTQPPOHOVVRUVPVZUNRWVTTVXYZZTNLTVRVWRPONOMNRTX[VPOLNPMJSWUOX_^XQQQTQNROHCLPNRRKKRVWXUSV[WUSRQTVXQNHV^XWy‘œ™†`FKPVSLMFDOPFAHIRWUVVZXRMLPWY]YHIRWWXOP\__^WTNSPJHNSTRQVUMSXVPKGJJKOV[[UPWX^[SKLNORPUTSNQWRNNLTQQPNONNS[[WKDMWXVRNRYWXPTNJQYVQRONQLMSNMOSVSYZUVPRX[[RRPQ\[N?BMW[UPQ[ZWMTSVZXTK<>4DSTKFMQL:AMJKOMYQVLSB 1``KUZik`RW\UWNKTPLKMYWTYVTUVSX`lmnn`NOWWYYSNX][YXWMRPX]UUSRXY\[TNPLFJOMHGPSTSTW[YTJHIKMQTRLLOTSIJPSWUT[\WTSMKLNPROLVZXVVXUORVVRUUPUTRRUSXZXRMQSQKLTV[YRNRTYddb[XVVTJ>IOQQTUWUWLEHQSQSRTXVQQSVURRUVTQRY^\YXUY^`_VV^_USUW\Z^WXeg\UTWUUSUSVZUUVTQOSMORU[\ZX]^\[TURVIMNOUSMSTSLUXWVRMVIMNOTW[WTSV]YUUVQOSTTZ[XWMRTXWUQUUTYWUXXTUOQQTSVRSWV[ZVUWY[WUWTKWMSRKTXZSWSQQQRWXRTVUTTVUORSXVUVWSOOTTPKKPVUUQRPMORYZZXTLDLSPHIPTWWRPMNV]URMLLRUOOTSPUVUSX]UKJGLMMJKU[\Y]WNJZbaYNGMQXXSMGCGNUXY]ZUWXUNPKMKLNOMTWZSLNQNFHNQMJNQQRX_[Z]SPRZ`[ULDDV\\XX]]VOTTOQVYXQRUZVROQTUXYT\ZYWSVTNOMHSNJKVWUKOX[YZ[[ZZYUWQRXVNKPRSRNTXZYRKGSXXWUTTQINQUTOOSTSUOGFJQPHBFICCIGQVWMNVVSUQOLNRPRPEANUURQSPPLNUSS\XL[\WIIMKLL<6UZQROXWTPPNUPIGLG7LQS8$*CLHC0J4DdddXUPWXRhkheaRWaWRPVUXKOLQSUVWYTJVLWX^^UKV]`_XWWZ^YUUTUURU_RTUW[Z[SLLICAKKOQRSWVSSQWRGBDINQQQUXVUVQNTVUX\[[UUQEEKGNTNERZVSUXUVVVTRONMMQIOSRVYVRMOUVRVXVRRONQRS^a`_]XXUMBJRPYYXXWVQHKSWVXVZ[UPOQTRHKSUWVS[^\]]^\_dbWU\WNQUVOMUU\ef_SOOTWVWXXXUWYUROQTRWPWUPTRSWWWYSNLKWWPQQTVWQQRVTWVQTRSS[_ZWTTVX[WWPNUVVTUWXSNXWTRJXUUWXVUXWPKLOQRUVTSVSSWQQSSYTUJPPVUTTWWSVVXYSSOOTVVRPWWTVUUMLSWWYXTUMRUSQOSWUTSTPRROSRW\`\QFOWTUZWZ][RDIS[_`\WPKNSVX[UTTSOU]`]VRCBCA>DRZ^]ZZULK[`\OIOTRQFJLCDNSIHRQMOPQSQNILHJMLKX\THEMHFDFIJHMRWTRRPRXROX_][VOJEKNSRY][XMNJQVZWSNJNPMTYXYWVRT\a[VQQMHDIKIMDAQYVKHMTY\ZVZ\WMGGNNROEBLPPMRZ^ZVNHENPPOMWUUPMRPJNQOPONHFHOQNKGJNOQJKXYTPSTNPOMMRVRRTLHOQSWWVUHEEHHMMMKRTMMWYWUQOY\[^_YUVXTUYWUYRPQTTTVULPUZYWUSTXTQPQMKNNRUSTPNYTPHMQPOSTRPKMT^]Y[VUMISWVSQOPUWRMHKNVVTNJGNMOSWVQLOUWYROOMQ\\WJHNRTWTTULMSXWVRTYYTTSQR\da]\]XQJMQSRIENQQPJCKNOMPU[]ZTVXWYUMOQTUTQMORVTSUXUVYROQURSMFJJPY_YJFNRUXVWX]`YWQRVQR[\[U[WNKQSMNQSLPTPW]_^WY\YWVSXYQILUWTSVVMLDGOU[\\ORVZ\XQPPTTSQMMLS[VMK_fa]Z\XWQLOJHLVTVURSLDILMLHILPONOUZYVMMTWVRKKRXRMIGEEJNTWUPQXYUTTTRQVXZV[WJJMNQMRVWUNOTWRSVUTVXTSUXZYUQTUUUWPMJDCNRQQQXZVZ\WUWZTTSOPQVVVTVWLNQd‚‰†{gWOQKIPIIKKKSTPNQW[_^ZVPPRUV]\VMLRQQUUQTZ[^^VLNQIHRPOHFDLOLKNRWXVZ]VS[XVXZVRPOYURRLRPMPVTJMV[]XSKJRSNKJGMKLQSSONTZXSOPPNPTSRSTRSRPII@>FPSFLNLKOSVQJJUWVZ^[VYTOOVUNY^U_aRQKFKEP]\YM?AE]W<)GMQNPNNONNW]YPPSSQJELQMHT[XQSRSQMMJMSXXVURNNQRQLPTUTQLMOQOSZUPPOSTRP\_[XZVOHECLVZ\][XSMKRQTVPLUYTS^``_WNTZ^^ZOMONNRRMLNOVZYPHLX^a_YUSPOOQVVTVNFJMQSQSSPMIEMQHAFNTVNMPY[XUQNORWYVOSQMPQQQVVMLORKKNNQSVSSYSNNNMKCHLUV[\TNLHGOTPLNUUW[[WSSX\ZPSYZZ\UQ[[XWUTNMRVNOUTORQMSYSOSSOKLOLONSY\]XSLYTPRQPQUPLNSUSRQWQUTOKQYUTXUNJSQSSNPMKJGLMLPOQVYRTRLPW[YSXVW[ZQGGRZ]]WQLOTVWVNIQUXVVNNW]_\YZ\VLLUWWNJMTZ[WWXUJLNPRQMGILWa^URWW]^[ONXXYNQSRUZ[UVYVWWMOSVUXUMSVY[YUTWZ_`\TSTRIYb_WX\[RHLY[ZXTNQRRVWXZ\c`][UWZVPQRTQNRTQKAN[[RL<7FZUOEPT^TM[hh;/RU=4HBBSNOJXUXa^UVUV[TPMXacdae[Zdk]U]^SOXWXVTXX]d^WZ[`[V\bc[VZ[QMGGOZ]ZSQTWXOKLNQORXYXYZYU]`\YUTNHFLUOGPZbaYTT]``_]XPMQPSYTIINTTXTHETRQLIKKGKSZYQLHNQOIMQSYZ[TPHJSVXSLIE@IQUX[TIOWOFMRWVSTZ[WXVQURTURUYUTWY`\Y\\YZb]VPNMPRTTZUTURWYYTTWRPVWVYWWUVVTVPPPRSTXURVUSRVRPRMLMJJQSJVJPRUNTWKQVPOUTRORWSW\VQOPTMKVYSVUYVZTUUVVTXSTVVXWVWORWSVWWTVVWTSPRWT][ZVXY_^XWVUROS\`ZTOPTXUTY_b]URVVVJPXXSNRTYUSNSTTLMJMXYYYZYTJDFKNUX\\YVZb_ZRTWXVXVSRKPPKKLJESZXW[VLGIJNKFFFKLOOTYZRLQNMSSQQURJP]a]\VUVSRPNUUV[ZXTPPUQOOQU[^[UUTMNUOLTTQWSQTUU]edZMBBJPRVY\]]UPHMU[WTX__]Z^\ZTMOV\\OJKPQQY]XY^XZYWYVX\ZZZWSPNRY_ZYMHJBDDMSVSUVOEFPWUKLRTXSTWX^`YPQPOMUQPSOMRSLMUTMHMHKQUWXXTPUZYTLFKPMFIKLSWWYZUTVYWOJGLLUUNKR]c_XOSOPXUQW`^XTQLIOOIPTWVYVRQYZVOKMPSQOQSQRVXSLLMZUSTNLTSPT_b\OLUYXUFEOXULQRLLPNQQQTRC@GMOOQVUTRKQUPMT^\W^aa_ZORWYQUXWTTPQQVROLDNVYQJMWY[YTU]ZTIHIKMMLKQRSTZYRKMLHEOOMGMVYYWSPWb`RGOXWUJJGIQOOPJJSXSOQVSNDFNQVXVVTTWX\\ZMGBGWb_VVPIHLOSYXUSNOQRTQOTXZ^]VPTUOJOQOPONQPTNMSLPNKQTQXac_WOKLVUJLOURS_a]]TDPMUZNBHMMJHIILNOPPVRRTNDB>ENSRFAEPKHOORYTKPTSIJTY]^YQYYPHMTVY\_[QRUWSKKOV]\WOPUURQSWRNKKMOPPOPRXWTXXZXQJGMPTRJKNUTTSPOW[XSTTUVSQQOMRTTSTNMONHKZervpd^ZSRSOKORORMNQOOVTYZ\WUTYWVVTURMHDQYXRVWXVQTQMIOYZXUUTT\`_SOUXUVVXTNQVQOVXWXWSQVWXVUTTWSRRRSIHGJMHLTXWX[YYSFNYVRTZ[UTSSORVVUMJHOUXVVTSTX\ZZ[XRNQVW[ZQSTULRRYTDMI:IX`]ULPM@BNBDKIJIR[OLX`bdVfoh[=QCAJ;SVpse\USVfXX_UWTXX\XOSY]f_UW\UOVXZ^UOXZZ^_[YWZUUY`_TUPX\XPRSTWVSQNGDLPNSQPMMVUQXWPQZ]UTVTJBISYXSOX]a]RKQQOQ[^RGGMRUSOJGLXVSJJQRPOJRWZXWYYZTOGLJNOSXZ[]ZUTQORYOHMIKMOMS^_WZ\TNQSSZY[]YVRNTWRINNW[\^`\[YRUYZaa]NPRKIUVS[^_TWZWRMIWPWSNSPQSQLQUUURVRUPTWVWUWVVSXRNQSMRVPTJNNMJVXVVZ\[][WTRUWSWTLMMTVVSVRWZ]\YZYSSRUVVVWYZUXWTWTTXUVTXUYXXSSPWWZRSW]^\WPVVSSSUWVQJTQX\UUXXUUWVWTVUTVVSXVXYSSTUPNTSSTTZ\[^_WQKLSPVZYPKRY_[RSVYYVTPJBEMLLSSLIPU[[RJJMKGHJMNSYWRPRWWQI=FOQSRRRMIPVXSPQUTVUVTRTZ]ZYY[WTVUKMPXXROPIJOPVYSLMMLPSRZfj^QEMWWSSOFSXYVVYZ^^YNQZ\WPLLPNPQTTTTZVSMY^YX\[`[WWXRU\YTQX\VKU]]XMDCEHJPSUY\XTPPVZWNFIHPTUSQZaZRUTNMLMLQOKWUPPPNLNMPPTQQYZUMKV]b^VUUSQMHJRWTTZ\][XWTTRKKNHHNRV[\YW[addc__`_VVTTNLOQPUWUVYTTTWRKFLSTUSKPSPPORTLIPYPMLNQWZ]bb^XUVX``UOQ[\RKLNPQX`\TUQLRUUSSSTOMSPTZWPNNRX]acaYTU]^S@IQZ__UODBKQJERWVQOQRVVV_b\VUWNLPROQPMQXXWQMONJQVYYQKRXXTVTW_]SQKRURNJKMNTVTRLOXRORVWTONNNQSW[TOLGNYZTMLPMNJJT\UKSUTSOMGKRMOQRMTQOUXZ]^\QMPNKJOUOSORWYVRSWYYSQ\ZYUVROWWR?@QX^YUTSR\Y>CBJKRQRMMSMNSUUNIET[XONFKTVWSRLGAGMUTWQKOTK?IUVTUWRNV[[ZYWVV_`WRVYVPJPVXWWTQTXUVYWUMFGKMURLNMURRVZVQSOSSPOQQRUSQLPVZ]^[URRUYWWZZPFQYYQHGMROJLXbhkge^SRQGDLRPILNOGPVZZ[Y^XQOOKPWYTNRUX\\XTX[TUUTVQRXZVUYUIFSXTQYUMLMKKOVZTQXXWWUOSVV[YSUX^^[VTTNCLTZVLY`XSSTXVTXZXRPVZXYXOFLR[VSRTQMQWUYZ\XY\_YQOLLMTY^VJSUPQRKPJUTH=EU`\LOWQEI0;:;IGJ=5N^ebSBYe]P9G[h]7B<<Tv{`^_KNUXPUUOcd`QRVKfnpRT^YWTUVYRNY\XYYUTWWWUR^aZYZXYUSSQRMMMRUPHFNSVUNJLMQWWZXWVSSQLMMPRUTTVWWZ^a\VYVQNV\XJPT]_XVQQOQOLLIMMNTXZY^\QBNX^YPIMSXWXUQTSRV\YYTQPONSTQPVZZXXSQUQJMQTVTVVXTV[PLOTVZY`b^WYXSOQTZWTW\ZWWQR[c_XTQLIVKOPSUSTURQSMVTWTUUTRPWXYWSVUTU\WQOPKOVTRWVTUWNSWWSRU^a]VWYXWRPMPRVX\XWIQUWVWTTWPPQVXSXVUVVTVTTUXZYZ[ZXWRVXWXTUQQVVXWTXUTWTRVVVQKQNUVXTURPVWSQPWTUV^`[RPUTRTTTVXURVOSWTTYZWSPYYWOSRMMSXYVRPTZ\YQMLKFKKHQUSPGJRUQOPRK?CIOLOVXWSWZZTHEPSVVXSOJKOUUTSWUVQX\]VTWVXTYWVPSYWQTWTMHMGIQNOVXWTSMOVOO[aZPGLTTQRQJAMTY_bb_]ZSOTVRQQVURMQVPWWXYZWY[\WSLPYVXRMRWXRMRZWJPVTSRSPLQPOMJXZWQNOUZ[VQGJUYUMIRUSOUXVUUVX^ZPSPHJDBNLKEEMPLQPMKLKLS[_]]\YZWTUYRNPRTVVRQPQSUSIBNWURQTTXadb`\Y[ZYZZRMKLNKQSVTRTVUPMCELWUURPJTXWTS[TPSXOLPOPT][UOPYZPQ[\SMQ]b\TQOOR\`YSOOUY\Y[V[XQMLISSURPLLSV[^^ZUQOVVJIJLWZ[SRKISNIRZZUTQMSTSZ^\W\]XVXRJJMIJOWYRRSOJRWWXSJNUQKSWUUVVXNKONJJQURPW[[XXVXXWW][WROUYX]^WIAIOWVWXXVSTPKPVWYYTTUXRGFNPORSRVSNPY\[``UWZXVPV\`\ZT\^WVYV]_ZSQW[WRILOX[XQ_``W@=CNU]QKJUVMLHQVPGPSQNKIMRQTVSRWRQOMKMJLTZWVPLORMJQROMNMPMN[XYUPOLOUQOUXRRSRYZVRRLMNPQRQONMONUYVRNMQTSSZWXVVXZPMSSPUVUKHRTY[WPOWYYPKPVTPW`^SACKMOLOORUYbb_STQJ@JNQOPPPNV^^`]WZ\YLGFT]]UQ[`\VVTV[\VJMKOQGRUQW_ZOGQPOSVRNQSRVXWQRTTSQSSVVWPTUWRMTSTLOQKFKNOPKTXUQUW^^TSVWWQNOT]\VXWZYXRSSSSWWPZ_\ZPRX[YYWTYZWXVVXUYXTPQKJPND=5<@CNZQB>%9DJGAJLEFW_b^L@]j\SMYYVURG=DHNU]\ZWUXWPNSUWWWSKOQRTWZRMPOGIMOPTPF6BMTYSOZ`_SBOWYULHMJIU\VIMOSWQEGPQVWWY[__WMY]VMRSVUNJJMNRNKW]^VLCA@ACEQRPC9=I[fgdZP@P^]GL_ed_fI+O]M`i^-!4I\9i~ƒ€eOV`bphgUUU\^MURTQKQUV[`cXX_e^USWSWRNZRVVKOYZYXVUMNJILOZ]WXXXWSSUURTY_ecYMHIJJKJNPSQQYXTXXRLR[`]VRUQLCEHLSWQNNQOPPZZUPTTTVWXZTJLNOSSRWSQQQTW\_]ZXUQZ^\VWVWXWPPTQTUKHLMLMUUNKOTVMEGPWZVSQTVWYYY]b]]]_a`b^YU\`WP]fgddWRQRUWUNORWVWRVVTTSSTSTTWXXUTTX\VVRSSMJTURTTVSUSLKIKTRUVPQWSKKPSUYRTOQWRTVUVSLOTXUSQRQTTXTOTSWTVRLSJSTTOVY\]_\TTSWUXYSVWTPVSSRUX[[TUVSWTMMLNUUUSURPQQTTTUUROQRTRUWSRTXNQTSYYSUOSXWTSLLUYTSNJLTW]\YZ[XQQOVTVY[UTX_bSHGOOMMNTSQQQVXQNORSOTPOSXZSOSRRTVUSPRSPMVYTQPQSQV_^VU\YVUOJKQMLLUSSWWWYXSRTNRWXVTOGP[WSONKLJKIMVZ]ZROU[[XY[YUXWQRQVXY[WMECEJEETWYXZWSNHIS\YXYYVNKGLQY_\VTXTQTWROQLOX[XYUJHJSYXUVXVNNSTOOJILNUPLNRMMPTTNGNNLKINSXUWXSQTRQRJFJLIVWORQHPW\WVTKIPQSYXSLNURTYUWY`fgc]Z^YTRROTWPQSSWXXZ[YWUXXUMLQQTROOMJIAFNQRRWTTYSVWVVXYXY\]``[[[]YQQTPPSSVXUUWWWSRPNJJIPVURMNJFJXVSM?ALRWZWPMRRI=HSSNEMQPSVY`c[NJXWPRXZURRRLMSY[RIEMQQOQTPMOSQOSSPLKNNOJ=HQVUTPGEOTTRUVQSTTVWUNQSTQRVUSKEFJTX[WTTVSPROKEFXXQQMLVWSLLVVNLTW[XYWTT\^[ULHBGGGNORWTPFAJOUZ_WQYZ^_[G:BQNB9D?/^[TORUQNOTKKQSPRQQLFELSWZ[WOPNTVUXVVTRNGJP[\XXUWYZYXSNU]ZPNSTZ\[]][[VOOTOKLDFJR[ba_^TQTTMP]a[WQRWMLQWZ`\WYUQRRXXWVXXUQRSVZ^^YVSRQV^YNILQTROFGPQS\]ZY\ZZ\]aa]TNOURMKNJT_d`]`aTVYZWSOOTSTYZWYZURQPMRTQFIFIEHLLTZUNJKNTNLQY[WQNMRSRVZ^[UUSQHNPMPQPMKRXXSKPX\RMQVWQMGFIKPUTPKLLPJJRRRRWVORX[YRRXYWSPW[TQY`_\UKIMT_THEB?FCJV][SKIPU]_LEBJWLDRRJOTQV^_aRa`Y;85/PcfHiy~xZWVR]mc_WUmslVVRZ`aZOXWSTZ_^VQZXWWZWUUYYWTXYKTSSUXYYVPQX\WSXUOKLRQPWage\JGMPTWVQPQIDNUUURMPVZZXTUXWNNQRSVZUU[\WWZZPBHPRQNFHPOLQRSRWVRHHIKTV[__]\XQV[WZ^^WUOPQSW\\SJMNFNPUOOTSRQSUVVVUSTUY\]XTX\`^]\Y]_^[Y^_UMW\^^ZTNMQTTVUXVYYXRWVVWOSTUSSXTTTTZ^]VUOOPIVQVTUSTUTTILVRWWVUPRSVVUTTVWVWUVSUUU`]WSPKOMMTWUUYXWVTUUMOTUNVSSRJNWUTVYXXUVPRTSTTWUVTVXUSUWTPOSUWSLNUUWKLWTVOOTVVVWXTWORMTTQQUVSUT[XPSURLFPNIDDLY[[[\WUUWZ]`b^VJKUVSMSUXSMZ^ZWUTSRUV[ZUOOTXOUYZVTNOLPPQONVYRNRSMOQTTSSURVTQRUVY[WT[VWXTOOLKIT`da`XPUYRTWTPPPSMHR\^^YUSTWXQPNPY_d[SSX`d`UJMWXQQW]^\[WMLNMJORWZXSTSSQQW]^ZRUPKKMPPV\]YPWXXTV[ZUHDELJOYYOOKLTQRSTQIBIOVVQCLRNLOSVTRWSQTRPGENRSXQGGMGFJKW^\SQPPQWWTNMLOWURF=JSJKRVTPUWVQQSSZ]`^ZW\]YLJQSVTMGPSQQX]^WOPVWRLKVZZ\XXUNJGGKNSTXUW]YUZ[ZVOMMMOMOSMPRSMILPV[TONNJU[_]RMGCGGIOMUZYWMNY\VQIGRUUTSKPTUNKMPOIJMPRWX[a`[URVTOIJSWVTPNMMTWYWPJMNMQRQPURKQYZUPNNPPLCCLPUSRPMOKJS[[XUSUV^`YNVZTQSXZWSQSZ_a\WXYVRQPKHJRUYZTOPTRPLQWWRFP\]\__ZQU[XQFFNRGAJRPPQJMROOO[YTTUV\_WH>IOMC;6@QLOUXTIKORJNNIHLTUQJLLEFLMNUZWL>=HQUOHEALTXXSSV[\\ZUMOYXMIHHMUXVXZ`bSGBFKSSQMNY^^_^ZZVNNT^]^\ZYSNUXWVWW[YY[\[VUTQIQWWPLNTWZZUPQUW]\URONMHGDLSZVVUOVYXY]`[^]XJJPQMRVRIJLNR[^[X^bb^YYWTV[\ZVURPLOZXTNHJHIMMVYTOLLMJJTYXTSVPOLPUOORSZ^\TSTTNJEGQZYUTWUPMKKJILLMNSMLMVXUUNTTUTUMGLWXSVTRIMORMOXYXSPTXURY_]YQGD7EPSLHKQVRRV]_\XRVWSQRQNF=?FNPVU\VWU`]R[IdmjVL"T]X1T`]WVVKLWb`Y[l}lOTXW\[_TX_^\[``^^]aYQOSXWZYYQVZ^YWXUUVYVT[WVPQSNLKMJKXabcXMLPPQY\[Y[TIKSRLEMMQXVMS[[VRRRQLSWR[a_YXYZQLJQRRONNRRSURMW`_WNIPW\\TSOU\XRX[XZ\XTORSUPPPXZZWOIMRWVTWXRTVVWXZWXTSMUZZUNMNTRUW\[Z_`^\UYfgfbZULMLVWTTPRSSUSTWSWWZWTVTTXWUUPWYYZ\ZUSIVRWUWTSTTUQRXUVUUUSQNRWSSWZ^_YRWXWRYbf[VVVTWMRTUSYXVTYYWWSTXTRTWTUVVTTVWUZ[WNPVUWRSRVUWSRQROWKMVZ\YUTUXXUMNUSTRPOOPUVVVSLOWUQRXWVXZUKMU\XNNOJMSWXYZYZ\WUTWY^a_YSTWWTRQW\]X[YWZ[WPRVUYXVSOVSPU[ROKOQTNFCLW[^WRRWTNLQX]\WTYTKQWWXWXRJOQW[WUSSVY]^^XUORZUUYYUJHKHISYYZVPRTRONKNPQXZUJMYbb^OFBOOEEOVVTTSJFLPMQTQIRTTVUQVYWWRQPPQSQMTX\XSMKUW[WVUKCEPQFNZZXXSKKONQRNJILUXVOKSUNQTRSQQQNOUYVPGPXWTPNRPIGFNS^^ZUSNSVVRQRNPTRJCFPWPHNQTPS[XLEMOUUSPOPUUVSVWRUVVRPPLQY^]XNQVYUPIU[][\`^^_IKNTVUSX\\TMSUPIHJGHMQWZUQQPOJGQUYWLHOUZ`^\TE>MYZQSRWZ\[ZVYWQNJKQWWVTQPQSNJGMPOILNQPQTWXRNPSJHINSWXYTTPJJENVWNOMOSLEOUUQNMOLLMQRQKEPWVPNQRQJDFRSQKNQNS_a\JLTRGGJMMSXWRRXUOOUY]_\YOLJLUZWRMIGHRQTUWQMUXYZ^YNQSOGC6CONLVXTHBITTMLFIV`^VMMSWUMP\WE6ETYOS]^_XMCJQVRRNNORUTUVOBINRW\]VLLKEPY[SJIRQNKPX^]SUZ_ZYZ^ZWVWURSRPW^`ZRMLQVYXSY\^[[VVYVPISXWSZ\YUOSVSOLOU]\Z]\]\YVQQTNOQQNOWYQEOQQXUVWUPGEILSUTVWY\]]UQRPHU]XPPWSNKSOPSMNOU[ZXW_be_ZXNNPSVTPNKNV[XNMIGNSWTY\VJNTUSNRZXRKNNQOQZUIIPRYZXOMSQMMMJKVUPTUTTNQTPNQOVUSUWZ[[YTOOQUTSIDLOQQRQKHNNPLRUSSSVUIGQYZQGBAAILOFHKMW`^UOPRODE]bc\LRFE>LMMX]__[S;LURQQhmlZIQXQgrmf[\ZN=JVY[ZV^^ZYX>HK^U0692?^^?YKekgLVNVTXWTitskc^u|s\^d[OOT[YYde\QXTTTSVXXXUYVXXYTLOSZXPPW^XSONKHNSRSYca\OJLKRSRRZ]^]\\URURTUYYWXUMRWWTQPSVRWYVWVRNYVNLLKKNMX\ZZWUUTRODIX^_WWSTPRVa`[QNR[]\X^[ZNAHQXY[RQRQLTWQIRXTVVZVTKLNOQWSOKGRVVQRXWYY[^kqqeXWOOKOTTWNVVUUTPVOMMTTTUTNJPWXWXUSVWWWUUSJWQVZURT[YUMIWQWTUXWVPVTVVTWKUMTYY__YTLSTRKWJUUPUSNU[XUVSXWVTWWXTOSUQJKXTQUWTSTWTTXTTTMTYZXTTSQWSQTMOWVWVVUY`^TNLPSTTXTVTTRRWWTLKSPPQQVZUSQOJRVYMGJLPRSROMMTX[ZUQQOX_a_[[YTRX\XMCFHEHKKNTXTOIIKGGR\[TMQVZROY\Z[WSSTRNRMPVUSVWZYULKTUX]YOLKLRVY[[VX]a\OGFKSF@KQPPUUTTSSTROQ[[YTQMJJQVWQEFMQJHRXTLHKNR[_WSZZVRSYY[ZVRLNQOKOUURWXSW\ZTRPLJJRWZXURX[YQGCNJLVXTRRORVY[XUYSTTPMNPPKMV\XQTRQQNKHEKPVXRAIZ]^c^RJU[[_XPIOUTRNJOY[UKLPLLSVRUSTTQOFEISWXSEFTY[QJJHLKW^^YV\XROUTQRKPYXNOU`a]VVGDUXYY]_^PRVXPJIV_`ZNOTSHGNPX]ZWTIPVTSQWYUPU__[RQQOTQONOOPPQHLVYZZSJILICQZWRQQPWYYNNRYWVWWOKHGCAFMRRQUUOLMPNFKRWZ[ZWWRLKRVYXUTQNPLMRQMHIONLNMCFLRRTW]\QNNQOMJNVVZ_cd\XMOPSQOZ[XYXRTZUGCFJPTVWZVQLGBG>CLRTYSV[ZZWRTRSUNAQYQ>DIMVZXRGA?OSDGCHL\Y`WMFGPWSJOXVSRQQQPRWYSLGELOX]\WLDVTHIMRQQRRSSTU[^^][UYSRXVSRWXSRTNICMPMNPWZ^aaXYQQXa_VKOSYYVQRNKJLJILHMONLMSXYM@GILWWQTZXNLPQQKNVUPOJJMYUJHJILRVSOS[]\USOSZ]^\TSVUOHMPRUNQTRKLQPPH@CGHFEV[VSVZVWREDKRQRWXRQURRZ]XXSQTSMLKIEZdibUNWVRXUTQRQKOJLQQVZ]VMBLMPRUOQJEHGHPNNMSSNLOKO[`^`VPOLSWWUZXUTSPPJJPTOOHKPTW[XRJJRUYZRNRXYTQNPJKONMQNRSQSNMTWRILPPMST\\XECMQTMPTTRSQJKVYVTSNGOSVTPSYXYRPTVWZXXY[SNMOQOEO]d_\TTTQSOJE>KMFIODNac_TT[Y]YPUWSNPLIFJRWTF?PRRXXVVSNUXUVVTSWYXXY][XZZVVZYUTWTZUWX\SQOMFKRRY[YYYVSTQQQTRRTXXRWWQLQMPOOPLGIRYYWUSUXZXTTVRQICRUUXbbVELQUVXVNFHKNFWWPNRE-GQOPFFJ9;=,Q51U,,WT?kYMRVVunMkg`TU\ajeWQMRNWmWKR]TMPUXW\`b\Z[YYW^\ZVUOMQRMJLRSTRNNROMRSR_heYKLMKQXXRTQY_\VVVZ[VUY\VEALRPNIKQQWXZXVRKMQX[TPMRVVTOPQOMQRSY_`^ZUSUTLIY][USZ\OAJOMQQWVVWWSRRMPS\\RPY][XUSPV^^XT[\UMOPQNMRRQTTUUSPNR\ffa\QGMNNHNRWUWYZXVRTROROPUVVVVSSSPTWWWPQUTTQNTUUVVXXTVTSUUSUTXUWRQPWSWSSQQMOS[^YTWYVVVSSNORUY[VYZXUTWXSTROXTPPXVXWXPLMWUWWVSUZ[VTRSVUSYUPOVUUUTSWVUXT\^VTMTUTURTTSUZWXQVYYVUJMRQNPNNPUYYTKBKNWVWY\\YXQDJX_XUXUVXUTOPOOX^a]YOJJKBFINX[WONLNORQSQJSWTUSQNNQPIPTRQRQKMTSSNLNPTXZYWb_TFHQURLMUTSQOKMVTNUUTUUNUWOMKITVXQHIJEMWXWSOLNKGQUKHNJX[UMLTW[WYVZ[ZVWYZZGLTTSSXYYWYXWRSTTVVYYPJOUXWX\`YPSXWRJBIKQUQPU[WSONXYXQRY[ZVRVYXMHMQPRNPLLGMQUVWTOQKCGJKYVRXXYRLRWWQTXVQPOOSSKDHTTSSSPQPQSTROSVSDJSURNNSROMOOMOX^^XOOWTSTTOOJTZ\YUZ\\^_[XYZV^dicUHIX_e_WQTTTRMUX]ZUOXYNOOWYXSRVNKWaZPLRSQQLOOPSVTPHMY[[SL?BNPOUUROMILPPOVXVRX\WPKX]TRVRSRUTMJOQVVWVJ>PVVUVXUUQPTRQQUWSNJOTUSKQSRQNIJQXXXYYSMKKSTQKFIMYdddaYQUag_YVTMPVXQIS\_URS\c^WRHDFIJLOQS[[VVQTPLPROSRNNMJPRMEGFKRVUMIKDDX_WWIH[^]UOVVPTVZQG:HPSOJVH>BKSUSTQNOD:CNQTRURKJKOQ]`^XQLKCBNQTVSTUWXWWUUWYWLISWTVUTQUSPY^[XVTVYXLBHNNPRSQUWURNHNPOIPRNNRVUSPNUXSNORSNPTRRMRWYXUSSUWWZULT[][ZYULQTY]\[TTLNLGGW\\UUX\XTMQHKNNIEAEOTZUPS[\]XGKTXVUTUPNKOOHJQTVYXVVQOUWZXYSJLVXSOUXXUWXRTUYVWVUQHQVOJNLHJNQTXZY[YTQQOQUVTTUTQWWMMQSPRPRSQKNSSWWUORORLNUKPKCLOOY\\Q>FR\WPFQUPIS^XXQLM:IZ_J)#8AG7D#AU]VM.^hk_PWMNXVlw]USUJOOUMN[OKTVTNXYT_fe]Z^VVXVW]caZU\_]ZVYZZZUPSWX\[VNRUTJKMSaoogVNOMGPPZa`XTSSSVY\\WPROCIFOVXURPPNXbd_XSMN[_ZQOVVTQNJQRQRRTWZW\`^XZSLGZaZV\aXQAKRTSQRVXXRPSXWPPNOIQTSQTXXQUWYUTX]VPQQRPTWXW[[SPMOSQYcgf]PHGQQOUURUUYYUMQVSTUSSTTOKKSTWWWWWTVPTVWURWUX[WUTRVVYWSQTRVZXYSHVTWWTQLNTWWZTPSTWTW[TTWSRYXSX\YWSUSWXWSWWMMQTYWVSNOVUTSVX^dXRQVTUQNQSQMUUUWVWOSVUVW[XTOT[VYZUSWUTYUXUVSQRWWUTRTY[YWTOLKHHPTUY[]^[UMHFU_\ROQRT[ZQTVNR[]]^YOIIPPQV\XRPTTTUSUUPJLSXWWTQPTUSSSQSYWPQNNONSX\Y\^[\\WSJFOXWORVZVTPKQYUIKQMQTWX[TNGMUYYUQURMUYYSTNHJHMV]YMORX[NFHINPOLS\\UVY[VNPJOMUYVSTUXVRUVWRSTYXRINUUSHMTSOORQSOGIRVSQPWUNLPLSYZVYZ]__YRUQMRMJIHMRNHBLUYW[TPPPNSRSYYIPTHEPWYTSZ\VRTXXXVQJHNPPRNLMPSPMKLOURKIPPVZWVUSKGGJNQURJOVY[[YXUQINU^`\ZZ\[ZWNGHQZbec^YQOb`ea\_^ZUTROQUPOPQQVXXZYYZWTNXZ[UTTVVUOQWTVSONPSQYZYMJNLEDILPQHJRUWZ^ZQLT[]WZbgc^YRKIJOMKMSSUYWNOTVPOWYXTONUVYVRSPSW[ZVQQOKSYTFDMVWWRUSTTTNLKHOOGKX_[][WR\_eee^XZYUWRPQQPTQY^ULPTPNLNRVRU_ac`YL?=Q[[TSSNMPPXQNGADIPMFGTPNZ`aaUIVc`YVPUNKZ\XKGFV]ZVUIKTSPOOOPPMFAEMTVQPQTORRQTSPJFIFEJPORUSNQUWSTSRU[VLBNWWWWW\[TLNRQUVPLUXJDLPMINTTRRSTSPTVOLMQSV\[RMPRV\YLNRUPBIQSSUYZZYTVXUWXUPLS\^YWSGDLQTSZ\TKLIMRQPQTSZ\\YOJQPNOMKPYXRJJQOOOUSLPW\ZTSTQRPGGMTSLNTPMMNQUUUTPONHJNPOQRTRTRKJRTQTWTOHKRNHOJELRTXQRRQSQNPHLSTTTNMSVVRWSLNSNUWXQIIOY_^\RLOMILRPPOMCKPYQQTPQSNCDDQD@V]YNSUROSabULC=INJM[5>NXN2LhimYH^SNWOPONSTT[Y^bVKTVZ_bVUTbffc`aaXYWRWXb`^RKQUWVY[\QNIPTQQXUUVSJ?GLL^jmg]SRPKNRT[TONORVYY_][RPOJQTVZ]YSSQML[a]WXXWX[SQUUWSRRVW]YTTWVUPU[YVQLJYa_USY^YNKNOOKHKQWSNNTZ\ZQOPPJKJLRZYUQRQQQTZ[ZQPWUX]YQVZVPLRTRX_e`YSMMLMLVUNVSVWUUUTSSUSWRPOKVOURUVWSSSNNTXYWUSWWWVVWVVZ[WTWSTVY[VQOOUTTSPPSUQVWWPSNPV]\UUTUSYVWUVUVVRQTUXWRQMQQSRSONRXUPMSTWUUVUSVTVQPTVVTUUYZVVUTTWWTXYRUWWXYXVUTUYYVWVXWSVRVSSSVZWZXUVXTTNMSYSUURNQSOJPY[YUSSPVVLTY^Z]ab^[QEEQUTTWZVVYYUTOONJMRRSTUQNPW]\QNRNILEHIKIMRSSUVSSOMNSTRSRRLRRQPTUUUYVJOTVTVUWPOOGAGLMKQYWUVWQQOCBGNQZ`ZINQWVNIMSVM=JE#7TWSUUadVJVTS[^XXYU]aTNXkq]WRVXXYWUUUW`f_SORTV]_`^_QNONOTUUSRVOBFPSMSTXWSPTMPTWUIKV[XZYYZZ[WUSUQUWWSKNQUUUZ`^_WQNNINSTPKLQUSSUXWY\\VST[]UPKQ[^THPVOO[[YTMNLNQSIFSYZ[[YRNQUUNQRUSQNQOTSP[_[XVY[WYWUSUZYZ[[TPY_]TOS][MNXXWT[TPQVRVVSSROIKNVSWRSTSUUSSWTSVUVVRVRUSUTNNLQUTUTTUXZ[YVZ]SUSURMTVUUZWRVWWSXWSVWUUUYX[^\WVNPVVWXXYXURSPMQTVWWSVWWSUVXTSTUNPPWVQVTX\YVUXVSTQPVXWXSRPUSWSSSTVVWUWWWWQOSWVTXWVQQWUSTTW\TMLKS[Z[VQRVXUTUVUXQX^`^[a]\UQMEISRRXYWUWWRTWUPQQVXWVWRNPTXTHITOOFNVXTNQWRDMOHLQWWRQTTWYSPLMRTSQLQTVWYYXYVTTRPOMJJEJQRY``XUSVQGIQVWXVNNVXVSQMQQKKHS\XNMOSYZUON[YYXW]a[WVRSTVNOYXVUTQOTWYTXVSQSTYWTSWWRMQQW][RRX\[XUTYZWXUMSQICNUTVUPNLKPWSPOROPSSSVVZ\ZTRTXZXZVYVTQNMSQJNRW][VRMMRUMILIHQPKORKIOTSSQOQWRNNQURQXVRUSQX[Y][ZYWYVUWXPKHLM[ghebVQ[`ffcVZ[TPRSUUTPX]_`[XMKMGGIIOWXSQMPY[TOMNOPMNQPQSSTQNKIIGINRWXWSTTMRVVZSS\[VZhljikjdXOHEDBHMTWTRGILORUWOR[]UNSTTWWVK@ISSRQY[ZRRSW^_``YFBLXTFORTTTPPX\VIRSNPWZ^[VTWTQUUWMFOXXOLQYZZ][ZPOWYXTMSXUSQPPMHMX[XUUQEMY[STNJMWYX`ZNRSPVZ`ZXYWKQfbYVMBIGEHWXT\][XYVTUMRY][VX[]]\\[XRLJGMY]YQJNPRRSRLOSPQUTPJFPU\b]X]^YQRTRQNTXZZUVXQJNUWSQTPNUZZWYXUSRMKKMPSQIMRVZYRNKOMDFOQPOHKOPV\WPKIQQPTWZ[URPPQWZYWPNQQTY^a\TVTPTUSPSUQOPNIMTPIQUTSQLOSNIJU\VMMPPRTVWSUVSRQSJIWYSUXVLFLRUSRUWTSPMPOVXYSMS\\TWWPKWTSRXSMOKHPOTVXWRKJKNPNHPPOGILPRVUTSLGMQPOWYRECGEKOTQRTSNTTR\XHU]WZWSRdcYHNLGGA*7LMOV^aTBUZ_T[YWT5-)EXK5VaZTNKNVIPJJVU[UV]bZUcutgWX[WXUQVXZ]\^`_bcb^\ZWY[[XSWSQUTSMMKBBIRNGS[egcWPNRTSPR[Z]]Z\XWUMKRSLKSRIKQU[ZV^`ZURKLQQOPQRQKJWYWUVVY[[XVUXZUPPPSSONZ]VUX[\YTLFGQTJHRXWS]\WLGW_ZWWSSURLLTTNZa\\X]\YVTYZWXUY[YUJNVVVQU\]TNQVW\[TSSUKVTJTUTSRUTSWVRRUTTRRRRUUTTUSSYZVTPMULPPOOUY\[WWW\]ZRRSSVSUTY]WTTTUSONPRWSUSVVZ]XXURSUXZYYYUSLTSOSSUTVWW]\TRVSUTNPRRRSWRURUURRSYWTUUPUWSWVONTPWJJMIQRVSQWUMWMX[[WXXYROKOXXQPSTOIOUYWWVPQVXXZWOQUWU_d`Z[c`[QQC?HJPUWVUZYVXYTWWVT\[XTPPUSSIKWXNQQQYYRRUPOFMWSRTUYVOQMXa`XURUYXVPIRSSSQLQRUXXWVXURMOWRU^b^SSTPRROORTTLJQRPRVTQONMQRWSQTVWZWUU]UMOVZ`b[VTTRURKSXUQPNF@KPKRVUPUSQTYTVYXRPUUYZWTSTUYWVWQPOPPJPSIANSQVUQUZSRY\W[RCGPQKHNU[XQQWRMOVTQKKIGQ[]VR[\[UQRVUSPKDSURNNFNQKGIGFMKPX^^ZPMRTSTQPWVMPQSWXXYYWSSSRPSXVORcffaZ[ejokc\Y\XSNSZXMQSUZZZTMONVRQQSSNFGLTY[YWWUXUJMLIOUWTOKGEDKLJQY\XPMLKNRTWVY][VX`dgijhb]VLPNMDAMWZQ?@NRQSOJNTYUQQW^[YXXVQRXWVY]UNQY[WY\__\MG[\UOUTWWUOWbeb[TQRTTUZURSQRRVVQHQYPHTZWQQW\[RIU\\PMMPQQMPNPQLMUSKQXPOZ[PDLLPVURZQ=J[[YZYXWURYSMbTB=QYTHMSROSVOTXQJLOTXWPPUY[Z[[XRGECHT]a[PLQTPPLMKKQRPQMKNQQVWYXV]`XTXY[__WYXRU[]YORWVRSRMRSVX[[WRPQQKIINVUOPPQVYYZUKQOOOHMOMSQKJPQLFLRSPRQTXXVTVSUXYPKJLQUZ\`YRQLKTTORRXVTTPMNUUDIPNNMFKPPLAIVVRUXVRUTSOPVQMS[XOU][WTPOPRTSRORVUTQPSTTZ][TS[XHIKOTVTJIPVUSGGPOQUYUPNNLKRXXWZTUWPMY_^TSWWULNR[\ZTEHKMV]YYWMHLXZQZ\ZZTOWDJVb[POH@IUSMUR:LUVGBN_aZROEFZV[IFGI?ANMTTMXQNNRP]]`ZY[UVZjmiJNYZa\]VVXZWQKU]cc\XORUUVXY[YSMLSTMILD?IJKKNV[jli[POOONPMMS\[ZYPEFLTTONOOMLHMUYV^^YUZ^ZSJNOPPMOUZ^VQNS[\TMOS[[YXWUQMOT\ZXXWVVXY[RMRXTMMRRPUUPOPYa^TMQOVWRSTQOW_bbaWTXQPRPUYXTQY\VNTUPJKPSWVROUX[XSTTQJJOSUWVSTOKPKTUQUUVUPNVUW\ZXY[YVVVVGKQSPSX\XUPOOSUTUW]XWVYTTTRNNPRSUURUYVVRKTMTQPPSTVWTXUTQRRUXVSRQUVTSWTUOVXRKWRXTV[]ZX[\WOMRXVJITWMVNUTWTTVTPPNLLTTSNRTUWTSTSSRQVSROPX]\VOVVUUVTTVROKEP]aa\TT]aY\c^YZ^c_ZUJCDFKPQNOUYTWWW[^WTVZRLGLQSPPPZ]WNFIMPPSRIEJWZYWTRZWTMCO[^WPKMW\[VSRRVWXZ[YUWVUZ]]VPOZ^UPTSOSTPW\XRMSUNIGIJRXZTNQUSYZTPTVWTQKHNSSTTSSRUWSOSUSOVUUTSQMLQQPURRSSNEPYXRVWUOUURTUWUQNLMRTTMIRRQQSRPQPOTVWTUPU\]]^YFILKJDIGLPTX\XNOTSOQTWUOTUNKIRRNLUYZVRLLPTQQRTUVNSTOMQTQVY]\VOQTTUSWSQKLRPQMKOW\WWUSVV]YKVbjc[XZckmkf`aZWWRPRMNPTRTROWWSPOONPSVXVVROQQTZVQRQJLKQWXRQQOJHJMOFJVYWSRNRUXSMS[`^[TLW^eg`VXUSV\URKNSWSMMUUX\XOIKPPLMWaaYSWSNMPRQSQSRRZYVXXT\`WLPXVW\YXUSRXbkgd`Z[XRSRTQPUVZXUQNSYPO[]TTUZYYXFNVVOQUOOLJQVROKNOOOV[[UXXNMI=8CJDEFPZbfbc\ZYYV\]J?RSY]VGDNUPIEEVYURRVUTOSQNQSSVWZVKJHEQ[YPHIT]^SC?IJRTROUTVVTRSSRSX[[XYY]_ZTTTUS[]XTUSONSYYYYWTY[[USRUUNRUWVSLMKMLS[YQTXZ[YSQNTQLJLMNLJRWWULJTYY[WUTTRPNLLLPX`b]UOKUPMOSQUVTPEHNYYN=BNPLHEDJNRMOOORUXXXQJJOPSMPZZYSUVRJCNUSRQOW\XSVTKFJSUXWSTUWNORRXWJANTQMI>ITRLORQPLMMOWWRPPSZ\UQT]_YQSVWOIHMSWVLNIDL[YUORRTX[MV``[RFS[T]a]ZSOGLWXWQNG;JLNJNZ]U@2CJ]iicH,kdOWWJLNMalfc`MOObc\VYPJJULNUVQYY]UVRSWWSUUWUX^c]YVLKTYXPLNOKKLMRRQ[dkidYWNEIKKJSWZZXQELTVWQNMFJLMNMOW^]TOKVTNMNPUVRSZ]ZSKMT\YSKGL[_YQLQVWVSSQV[ZYTTZZPHKSWSQV[YURTNMW][VTUVRSTX\YYUT[ZYOLSVQSRTVYYYae[UX]]]VSWWWTRRU[__UWWXWQUWXYVQVPWRXRSTYWTNRNT]b_WX[[YX[YRONQRVVWUUTROIKNLSYVXYZWPOTRIKRWSRPOMOTRRPLMNWTMQTSWUUXXWSPWTVVVVPOTUWSXWTWQOXVUYa`[W`]VRRNWWOKOQSWXRY^YUVUTPUUWSOMQWVXVSMTXWUURSMGJU\XSSUX[^ZWYXVUSPMS][WRR_e^W]^YVY_]VKGGGBGMMKKRTOKOSY[YSQKJILOOJKOTTUVSLLQRUSPF>IURRVTU\[XUPMSSQPQJNUXXRQX^`b\\[WRQPLS\]WPQWUNOMRUSRX^`XIJOLILNQRSWPIMQTXULFOVXUNE=DNT\\YWSVVSOVWPPQLMQQSSSSTSKFRVPI8GUULHSZ\ZXPKSSQSXSNOTUPINVVUTUUTLDHPORTTQWZ^_VIITWTPMDCIRWWTMLLPOPT[\UNSRMJOYXUT^^ZUQUUMKLUZYQX\[XSXZWYWW[[TVWXZ[WNLSVVPKPVXZ[ZXZYWVYYHRbjeZW\bfhffb[UQQQPONPJCHQSRWXXWVOQPOMS[XSLKJNUWOFHOOJHPUVWYVHHLJNHEORLILLQVZXZVYTSQPMLRY^\VWXRSXUONPNQUPOOOKMNHFIOOFAHLNPQNPPSRJKPLRTUNLNUSLOUSRQUQOUVRQUSV[fiie`\XTRUYVWWYUWVPQOTSSY[SRVVWVTLAGQSX\^]VJISXVQKLNKNRU]^ZNXZLCLURFLZ\^]]ZWNYZOYVVYRUZ[SJKT[WECKNPMQS[ZWY`]ULMSZ[XSMIIENTYTRQW__WLINQPSRMOVRNMJLUYX\\[ZTOLLRV\^]XUXURQTTNMUVUSQQVY\[TQRXWTXZ\ZTRTSOQSRJJPSTYZUTTQKGNMJHCFQXSHDLUWVQNXZ\[WKHQTYXV^`aVRVQV[TJKMJFGJRVTOHPVTOOLFRVTPUTQNRYZURWSMHLNTVSRQQKGFOXSRST[^VMMTNFFPPUVOLOQNKMRVWQQSWPKOKJQSURQX[YTKQYYOJQPNRNONVXTOMRTQLLKKNNLOUJKRYTLHSTMOSZ\RQUPWX_`[S\_PAGNVZ[[WT>?KPTY\PE:LZaa[]`\QGYL?WJRXUJUXUcc]QMVQWhYXUPLXSWXURJWWX[XOTWYTSKU]ceeaXTRQRNQSQSSSSUSLJRYUX_b^WWTFHQVSSYZYRMPVXVVVSOKFHPUOKVZ^[PHLLLJJGLTOPYXZ[Z^`\XQSQLPWPFFS]]VPQPVWTTSOSTNLKJIIGPSUTRYUIRYXUXWVYRKO[\[URU[\ZOS\\WUPHLQU]`^[YVWXTORNKKGMY^]^\QUUTWSWV\ZSVVYQTOTY``YVMPUZbd^UX]^YURUOORTVVXWURUURMMUY[XWTNUQISTJIRQSUSTVWPQPUSTRMMTUWWMTJSUWUMLUTNSUUSTMMVTTTVQUXVVW__VQXWQRSWRTSVVSVWNPRWXVYWUSTVUUWVVRVTSLRSVWROJSIQX]VQQQKPXWVZ\[WRRRMNKONU\_][VVQQY\[RQQRNLLNPTSOUTPNMRPJLJIIKONNNSQSQUTVPSVRMRSOIMKLSXTTXY\^]VRLV^ZGBGORMS]\ZXTROPQRSQRSX[VNKNPQQLD@FPUUXURMJJMLLNMQOELVUWURLLMQSOPMNQV_e`\YWRRTTUUVQHMOFKPQRUZSELRPEDGMQRSW]\VOPRWPHPUZVWWWTNOORWUUVWSNNKNFNOKHS]_YSRWVUQNOSRTRSNJEGQSSYYURTUTSTSSRNRU]]XWZXNJINSLFOOJHIR\`_YPNRQSRRPV[XUXYYPSY[[]VQQTV[^]_TS\__Z[]^`bdcYWSPLTVUTWWPKSTYYX[\XSPTRILTWRQQIDNSRLMRUTQPURV\\UVWTSPJRTQGFNSUQZ_a]ZQNE?@FLSSXZVPRURFHOONQOFBGRPPVTOKGCKRNDIMJMT\^VOQVTUYWRSTQRTQMMVTPMMQORT\ZZdlofVTWYU[fg^\RQPTXLEQVQTTTWZTMUVPKHLNP]a]^WPRQURJJMINZ`a_Y[_\QIY^]RLWUUY\UIJRVNEAISOOPXWQJJNUULNWWQORUXSLNPMKKSSSUTUMOIAFOPUUURTTOPTURRTRIENPRSQORUWXXSRSOHDGPWXVUNLUZXQLFMUOIIJHHMVVOMKNMSRUVSPSWTSSUOLGJOQYZWPKLFKUSLJFB@FNOGGJQQLLRW]\TICOVZXO\imeY[VNYWOEFHJKPQMRVQQTNJPOKNTX[[[WVURPNMOSSNLIOWZZTRPLIQTRRPSWXRONNROIKPTOLKRVUPJMTQPNUTMKQTTRIQTOOY[YULUXRRSPKSSSJFMSPOSUMNNQSPKNV[Y\_a[QGJPFIY^YEFSZTQS[[VY^SLMKPNYUWYVAIJ7CBCUXSQZ`UM`idUSbH8rqUTVZYVUTJJQVTTKXX_QQNKWROJY[TWPQXYTY[_YQSXWUX\GLLOKKKRUSQUVROZ_]Y[^ZZZUMGOTPPV]YQMTXTNOUVVQOOTZVPNPPZYVMBDKPPRTVRUXW\```^WSSQHJIKJNSWXUUVVSRX[WRNLJMJFGCLURRJMRPMQTUWQONPRNWY[XUQX^\\WU\[XQQIMKNPTX^^WQPLU[ZZVGIRVVUUMTQPU[YUSUV\^WWLPRSVTSUWRPZfi`VVXZYYYTTMJNRWSWTVVWSTRTYVTPVRLMOWUOQVYWSTVSORRRWRTSSVZ[ZYVNQVZ\WQOTUSTVTTSNWMPPPQVRXXQRWTRQWYVSQTUTQTVUZ\WSVUNSXTUUWRQTUTRVNSTQQSTVSXYUVRTRQOPNSWVSNOTTLIS[YOPQSZ^[`^[RW[bb]\YVSUSNJKTURSUXYZURJLLKNUUSKOTWQRRZWRRXUKMRUUXPITTOUY[Y]]XXUV[VIDJRTSSVWUSTICJPRPSNKQTOKGLUXUKHHORMQXWOOOWYYRSVWYQX_\XQRPMLKONRUTUV[\WPX\YW[[[_^XPONJCDIGQZWIKNKHEJJLSXTUWMINXVPQUWX\Z[TRXZVOTY[ZUTSPUTOJRRRRV]\XRQMHGHRSSSRSTLMGKRSVWQR[WLJTXUWXQQPVZZZZTLKRRKLRPIJ?DT_`XPQVSNLIGJV[ZWTOW_]TLVQMKHSYVNQXRYcgf`]ZXW^^\WUMKRXUTUTTPSZXWVQSTRFJIHSURKILMIJKOQNOQTQUXZY[][YSLTUTVRPSOJLTY^da`YSOFDFNQMJVXTOKNKDENLMIPSNHPWVY[SOEDLRQMKMONKU][UVVVUXYX[TJMTSSOQQMKQVVOMSZW[_a[VWZWGS`c_XUHFFDNMSYSMMT[b_PKOJKJHEP]_XQSOLONLHJPHU]^WULQUQQMO\WXQMJISUUVQVUDBRYQ==LVXTQJJLRSV]^ZV\\SLVRQNRX\VMITXWUUOLKKPXWTMOSUVXWYVOPTUTSWWVPJINLGKQRSVUXUVSQYWVX[XUGHQNFKHIKLRUWUTNJKRTTTPJUXWVSJGDKQSURILMJFO[XURNFAHIRNNRRNLOKSTLJNSTWVUOXiqj^\ZWZYRKFGEEPPFDQROLGDMRNPTW[\VSWYRSWRKJKIEBOX[XUSQNGKMNRNMPMKOKNNKIOOPQPNNQOONOPLKPSTPLHO\_TJQQURRRNV[ZQWXNKUXUUSPSPPUSNKKTTUVUSU[Z\]^[RQVTFM]SQOVSPFPQUTREBGGHLQVMDYYO.CS\VAUe\MCR=CjsvgKB>[\€fQJUSN\iqoaTMWQVQ[`[OXRUJT\heaVP\^[TV[WRPVXVZYWSQOQGHKQPIJJKT[ZZ\\ZX[`ZMJOSOOQYTNLOVUGISXTGIHJTSQNMFITURHOXXUXYZXQPTSWVVTUUWQPTTUVVTSNR[YWVSX\YRNJDFKFHV[__WSRRSTSSSROLKEMVWYUQROOSQSWWYYVQLIFDJU\`a]VVRLLUYZVSMOSPSURLPTX[WUQX[]VTVMQUVSPSSUWRShngZT\[WYVXXUTUVVTQSX[ZTVVWVQMNPPVWTRSPOVXWTUXYVUVTWUNOVXXUTTWX]a_]WXWVVSVVSKNQQQQSPQRWXURLTUTY\_aZUTUSTUTRRSWUTVQWWRUSSKNPTRUSRKPRSVSUTU]ZSYWVRPPMMRUSQQPNMKIOVWXWUQV[\\[X[]_bab_^`]XQOHLOQTTRVXVUURNLKUZUPMKRXTLKJJHKPTMIMQY\YPSMJRWRMV_`[WPSUNRUTSQTMNRVVOONOPTVRRWUUUPKNTRKLQWYSRXUSQPRWVUV[\[WX^`_YURQNMPRVUMFPZYQQTYY[bc^^^UOPOJAAFHMRSS[\YRIJNVZZWVSML[ZWQOQQY_^[RLW^ZRKRTTNTVTQUOPSWWUX]_YMELIBBHIEKRWWMIFJTXXVUW\[QGQPPQWTKQTTTV[\YRSONQTQSUQFCO[\TUWSPWZWSTWWURT[^aSLPRUUQUYWOOXY]elgbWQQQQY[[YVWVQPKGMQRUZ[YYRJPQKNSPPROKDCELQRRVWPJMLKNTSUZ]ZVHQUZVKOVUMNXWTOSSPOQKLS\\SGGNGLQUUMLJONHOWSELU\\[WOGCDHIJEIKKALSPLSWXZUVXVOIKPQQPUPFJLOPMMPTSURT`dd[RNGLR\df^QJEIQUWQJKNX\^SMRRSRLRV\]TKMTTTPDIW\\]bXKEKHGJQPPMSTYRLTPQVQQRUCIZ`\IAEUUOOMEIGJNTUY^YOITWTUXWRQLVYZWWUYXVRUZUJBEQSPSZ_XSUY]XQKRRJHILNLMMUYZ\[YVSRWZWZ`^UPQVQORTQTOJNRSTRNPONTXRGIUQYYTRONLOOJHPSPNPX^XSNPRMJKMNUURRPOOTQQW\ZRQSORakmda`\YTKNSSMGHIBDKOQLGKSTSQQSVVTROOLRWTQLPQPQUWWWSTSNLJLQQPJKMLONMHITWWUYWUSRRXYYUVTSVWQLFLW]\TNNQYWSPRZZTYZWVXZVWWXRKMUXRJKMKQWTNSPLRSXTJDIONPSUQRMMJONGLZUOHI=JGUVPR\^G@J^c\DL]]NIMLA_qslXV[^^IrWOSJTORV`TUUSYQLNbg_XLW\YVU^b`X[aWNPRW^^VWVYXWWZUUXRHDHID:DFFJE@DGFGMOSLJLJKJMQMIKKPS[[XOROHFNNTOHENYUMHNRQPMNU[TSWTQOUSPQTV\WTRY\\YURMXcd]RQOGBEBBIWaf_SOSQQSTJBMPPSRWZXPPQMJPZZROTTSQSTUPKGNLKOMSXZ\\\[WWVSKGPVWRWXYYSSSLEFJQSNORSMJNWRLTWZXUSSNQRS[ZUSGMWTWSORVWTRURMIQRPNPNSWWTUKBJKMLNNSQNQPRVTSFBS[VIBKOSPIIOPWPRRU[TFEAMX`]cb`YRKZOL`]HDSMC ?KL(*m[MMJT_rqUNLMWgomipphNVKQWWVUXUN[caaZU]ea_WZcccJNTXTLOTVYZ[[\\RHNMNYbc[PTXYQMWYURQQPW[[YURSVVQUZ[VPQTUYZZSPMX]^]XSSQNLHIJOWXSZ^[ZZ_c^__^[WTUZXQPQTV[\WSVQPV[USNNUVPORVUQVXVROMOUTPOURMQSRU]_^XUVVZ`aXMRWRMJJKKJNOY\Z\a[QSNTNSUXWUUSTVNOQQUTXTUPTZ`_SSTWSQNVQQRT[XTQ[XXV[YXSURTV\TRTUTUWUST]\WSKMQROOVSWVUSSSWXWWVXZ\WUQSTY[WVMSUWTRSVQTZWWTRVTSWQTTVRSQLQSORTWTWVSUXVQNUVMVXXWRWV]a^TPQTPNQUQPYNOTQJNVZWYRMMRU[\YXOUWUSUUXXWWTKV\XRKQSUYXPLSWSOGHLSOHSVRSMEMWXPRZ]_[NMMIJWa`][SPQMJLOP[^XWTQQGEDGHLLRWOSWTLEILPU[ZTTKFKNRHR\[NISUTYXTFFJORRKHOMNQPRTUNKONNOLMPUUPSYQIRVPJNTUUZWSNJIOOHGNTPLDDPVUSMD?BOWYUad]XZ]YPNNT[]WOSUSX^`^VOFMTQQSUQTXYWQQUPPRREC?BLOPUXZ\]ZZUTOPTVUPNMVZYUY^]VTXWSOSNQROTXRKKRVUWWUPSOHGGKJRNNSQMPWYXURZ[TQVWUJES[[RPP]USPMLNGKQMHPUMGLTTOTVUSRRSUVQSUWYWYXXRQYXNJLHLTW[SILTTQJINPRVVSLQWVLMLINPSRPT]b[PNEJSTOPOPXSMTWRJOOQSUUKDHKLUUVURMMKMPZ^a`WPLJNVTLSTWVPJMLLPU[WOS\YKNYdcYPUPW[\VMSY[Z\\\\XRWNRUPWZ\RPYYRFMRQZZTY^]VNEQSQOQPOTSRTRJFWY]]SPQTRNURLN[WGV[VENZYMPTK@@ITKMNXXNOOVZZYUWSW[\RF?AOUQPLTVVQKQRWWUTQOKNMLQUY]\\UTLMPXZWTUMHJHLSPG:?GKLOOQPNJMNQNKOVWXY\YSJGHEFPWUNEGS[]VPPRPOIHTXVWXYUXTOEAJRWQIMQW\^a^XU[_\NPQNNMIIJPVY]\XUWUTPJNNNPWUOVVSKFHJLX[YZ\YTSNRTWSTUSNKNNSSUX\ZYYZQJDJOTKQWVXZ[YNGFLSPHJOPURTSNNTUPQT[ZVTPQRXYVOPXYVQJQSTQNQQONUSPKMMRYTUWSCJUWSJRXYRNEFKQRRMTXOEHRPGJKU^YYaWS\`\RPQWb`aQTSS>B@W_ln]7:>:.5BQ[trXKX\_WW]QSVWX[ebhi^RTMXkf\WNWVON\b\VSWWZZU[_\VRZYVPIENW_[ROXYSLLKNRZ\SLT[UPVZWUTWQUVORSPOQUTPSXUQEAEQ[]WWVTW_c_aXTTUUTOOQPUPS\^]\`cc\UQOSVXXVQLTVY\ZQOROMMPOTPINPJMMNMJMZVOLQSVYYRSOKO[XYWUPJGKR[bdaZNRQRPIKNMTSVYXZYSNPPPSTRSWY]YXUPTUSMUTXWUVWiqtkXUVTVUVUWXVSMVVXRTWSSWXYRLSTSSUVVVXVXXSSUUSOQPRTSVRSTXZVVXTPKXQSMJNSWWYVSTUUPNUVUU]STVUVWUVVQPLRVUQKLUVQVUXWTVRPQRPJKWWUVPQSW^]SOQTNLQUUSSLOWSRVSUXWQTTY]ZUPWY[XWRRSQKRUWVYWPNPQMTPEMZXVXXPQXXQU[[QOLR]\RU]Z^_\ZSNSZ^\XVROUTMMRW_`YUYUNFFPQLHIQTPPPQOGLTQUWURRNOPQTPINRRSZ^ZYYNBHIMTTQKQRMJOSTYZTLJLMQONTSRWZMC@MLPOMHKLQRRICFKRURLLJIJSZ]ZUMHKMV[bdcVPSVQNLTX]\TNIKNV]^^WSPLMPONLKSWRMLOSTNPRLDEQZYRNQXZZZWWSNKQUQQNOUWUVZ]XTUWURSSOBGJMOLKGJNQUVUSUVPPTVSQLR\XUY]\]XQSZUSPVWOJRZ[XPORGPVVVRMOTVJLNQROTUKNUUPKQTZZYWOLNUQUSRPZa^XVVZXYVQENZSLEJRQVWUOPUYWTMKMSOJPX]d_\XSMKSSHLVZ]\\^^[YY^[WQOJGMUWROMSWYXTSUV]b`TLIILKGJKSWYURWWURMPTPGKJRPMW[YZVSYZ`\STZRHORU[VW]UWYURVSOKUWRLR[\WYWU]][NJPMKMIIRTQMPJFLX[Z^][YZYXSPNRTZVTZWW\X[UQPSTRT[Z\WVSONLPSVYTPOJPTYQNHLROMOX^_\ZTSQRTUOORUQPOQU[WVWVQRUSXXPRTQPQTSRQQQLHNKJNWWMOY\VOLMRVT[^WOIFGEIMSPGECJZ]YWSPPRJCP[ZVSRUZZXSQNQVVQMLRVYa_[WX]\TTQQSMNLPST\eke\YWTKPOMJRZXMOTSVMHKVZ__[ZUPPQQWXTJGHKQWZWTTSTVXZWVLLBLPLQTQSW[WQNMPQKINVVZ[ZTPSVTNQSPKIHRSQSY\XVXZXTRSWVOPQLMSRNFHQRPV[VZYQJOSRRVYXSNMUX[YUSTTQJGWOLTXXX[\`WJ^gcccXQ=YZXKQNH75ZiedcXWXeccT9<"AF]VSWXVWZ`WNTMW]LUiykUTWbmZLPTSSYPVZVKRV`]YU\_cXOVRMPLOOS]]ROQLBBJIMZ^YTQXYUUZZ[TTSUQOGLRRSTUPJOVRNSWTUYXVONRVZYWXWUZ^^VFHOOQNMQWZ_aa_YQGDMSUWZYVOWSUQJLNPTPMQVWMMMLNKKJIRUPIRWVU[]XXYSTVYWWVXVNLSY[\]WPNSVUQPVSQJGNY[WRRUQXZ[XVSVWWXUTUWTVSTVWTWUdw{fRMUSVVUVSTORVYWVRPU[``]STWRPOSQPSXUXVVUSRVWWVWWXUWSOY`_ZZYTUMNPSTSUVVUTVTUTUSZZRSTPPTVRVVWVSWPMPQROORRSSSSWTVWTNOOKWLQTWSURVUYSRWUWTVUWSVVWXWXQMPVZVPPNQVUZ`a`[QHLQNNU[\XTQJJNLOTNJNJLNY^UNZ`]VYZVOSYZZYVVW[`b[RVWYYRMPQPUSLORQX[SOMKBDMPNMNSUSMSYYVQRVNMPLKPVUWXXRLLPSTW\YTQPQQMOUVPJLQJCGKQ^]\UYUROLPSPXY[XQRSQPQVOUSPX[VKNSSNPOPTTQWZXSQLEIQR[^c`XUYWXXUQXVRQUUPMSX\XURPNSWTQMPWYSMQNOOVZVSJJSY[QRWYQUVTPNOOTUUTSSVRLWYWTRSRJJHJLKHOUXWWZXSORUUMQTLJPY\^^XWQU\ZZ^\XXTVUUWZ[\YX[ZVWWYQRQOMRUZZPGOXWQNNGEQUWVSVUWZ\QLSUUUUTRZdhe_\UMLSOKRYSGOMIFJMMMNOPSXXTSTNILVbdZOTSGDOQNRWVWWUZ[[Z_^_UQOMMOX[\TLKNOVVPQKLWYTQNNTPEGNOSTLT]`VOJMUQLDDJRRNKPR]gmf_XV[ZSORRVWS[fig_WQUYRSVVQKR[XY\VVW]^TLPPMMLLPTVNTURSZY[ZXTW^`a[SUPPSVRIT\YULY_Z]\\VOECOJQNMPNJG?KPSRSVYSOHJQTQJPW\ZZSIQTNEFPX\UOKHV^]UOPPOMNOOMVXUTRPRRQX_ZQQMHKWSQU\^YSONSSSX_^UNLKIJLG?@IGEPZ^\`ab[PQZXTSQJFQQQMSQU[]WQVXZTKHMRXYWUSRSSQIOW^]XQQUWXRRQOOTUVYUW[_]XWZWXWOTTOTVXXYRQOQPNPVZTHNSTQMRUNLKFFJLPSYZ]`]WONWXZ[WURRTVSMMLLQTXZ\ZTPX\XMJMJV\[X[[UNQTUSOTXXSPLU^YJHOUXYWMOPTVXZZUQZ^\QPOWRSVVXXWOPQNSSWTUZXPIKSX[YZUVWWW[YXVOSXROSTQPPONPPQXVWZWQV]^[YWSKMNQWXWU]db\YSWbhg_ZUTXVRTSPLJGLQX[VRSUVYWWSTSQVSVSSSSNKKMQVRIMUWQKJQTKDFMPSXSTSVOGLSYXXXVWZYYRGCMNJMLKWUQUWWTOQQRNIGMVVNIEHPW__b`_]RHOPOVRLGMKHNORSONQURINOMC7@LMHKNOW`hjhg`_bcXWZ[X`ecc_XRMIIHSZVWXSRZaa\TTNNRTQRYX[RSNNQLHPSTQLCCIPPSTRJUROPQSWVLFMX[gaPPTZYIFDTTOFHL]][X[Z[XVUV[ZSKGEGHOW]haZPEJRUUVYZWVQOPSUVY[YUSSTUUTXXY\WQUWZZ[YRMJKSQONTWRNLLQVRQPMIPWVVVYWRUVQSWSOVWSOUZZUNPOTUMCORRSRWWRPKMRPOO[fie\SIIPRVSQSW\gpqgXNRNQQNRRLJMYZ]_ZQCMY\YUPNHHKNLONFNSOJNORMHCFPVWTWZX[UJOX]ZTJ?@@:BPNRXXUROTWUQPROVWSUWTXVIGMOLJNLDGICBNSVY_^[VPHLQTVXZWTQSVSNRXZVPLMPSQUZ_`]WLIJS\PNPFFF@DLDI>?LTQQ[_TEXb^WB5OU[IO\PH-XbbbV/VslZRN\QKLUZ\\amvsXNRPTUX[\XJMUWW[hdUUdha]fdd^KDGPNKONCBIJKPMQMPV^VW_bZXTOQSUURSONTWVWTU_b]TONOWXZTRKEFMRQOUUWSLNNKKMMMKFQWXTOKPRZYMFPZZUSVROUUMOTRLPNHIFHPOLOQUSSWWSYRJIEFQRMEMTWTY\YWV]]YQT[YPSXXUPNLSV\\[ZZXWW\^ZSSLSUNTRSPVTWWVROKLNVWSSPT_jmk[UISVTTRSTTQSVRRX\VSX\URTUUTPRUKLWWVVSQT[[\[VWSPVVUSWVTUVMNVVUTWSLPWVXSJSXYVZ[VTUX\XVOWUYXUWWZZYPMQSQMRRMPQQRQRVNRTTWURSUQOUW[^^VOTURSMLRXYUUOX[\XTSUWVYYQT[XMMQPQNNRXWPKLNUSQILTVSYYUSSOMKNXUQR\\USWYRRTRQPUY]]WNKPOKLKLMQTQW[XTSXWWZWVXZWRRZ\_ZYUSUROQX_]TPPNRWYQQLONTVURMRWZXUTPKFKKHNUXXVSTSROQOKQSVWZ[XWNKLFEJJIUTXUXRX\_\WVURRSSUUUWUSTSOLNOQZXRPSXUQMLNLNOPRY[[[^aa^VTORVY[``\RIHMRTVVRTPTSTRULOSPHFQW[SPPY^]ZUSWVXVW[[UQMONPPUYZUZZURUTONWb_YZUMNOURLIRUPTW[\]^]ZY[XZXMKUVUXZZ[^^RU`mle^ZXWUSQSQMOUQPU\XSTW\ZVRROMKLPMKTY^\TTV[]TKMSXXORONLRVYOMNLRYSE=CKKX`aYV\[TL@GNIDKUTPNHMTSVUVSUPSRQPMENSRPSX__`\UPFBEDNSONRTQKBLVRQUQOOPNMIENWNMRRQOP\flmje`[VX`XVUZXVTXYSOTTOUQSRWYUPTSMPRSQSZYYYVWZUUVQMRYa_UFD@AM[b[\\SMFOJEMPVRFR^`UO]haPR`BRQLGLIQXRNQY_aVQZ_a[TKKLJGNQVQLPRV\\SQVWYXWOHKV[_^_\WWWWXOFTUVSMKQTPSSNNRRPSRRPORRMCAFKNPSV[[VTSSNHIMGHRPSXTFHOUVRMHIVXTUPNHHOTTKGMOXXTOT]ZVTMIBFOTRQUNVdwoZJGJNOTUONTRQOSVSRV_\XVRLIQSPQSSMUVPHILLDCLMNRRUUTQTTTQMPSRLJHJ>HQSRZUNJRVSKHNSVSVROLIORMMTXTRUTQROFEHSXY[YXWTONRNJOTYPHLQQSUVRPLINNLJCQVUOJIJQ[YKKUQME9CIGCM6M^UHN[VN8\_Y=3KNUWB?(BeadecO"YmnMULNWTKUhnaKWlidTMVWUUVXTWZcifalmi\\a]ZVMQWURPVUSWSIJONKHVYZ`ehd[TNER\\XSNMVVORORTXWPMKOQVWXWQGLQWVTTWRMNJFKTSQQOONSTWYWWSVWPNV\XOQXVTTRMQRLSWUOU\UKGQSYW[YYZZ__YQMKOQIGKTUSY`_ZQRTQVY[_\][VUSLJKQY]`a]ZXYWTMMTW[YRTWVVWVTVSYVQORTUTWUSU]abWNPMPQPUSRTVTRXRWXWQTUYYTRQSWTROSNVWWWVWY[WWUVUSMVUWTTUTVRSSWTURQSSUXSRNKPTUVVWLXTVXQTYYTUTSVVXWWTSLMPLXNQTSRSXXSKTLTUQUSSWTZXYYVQPQTTSMRXTSOTY]cc]VVXVNKNPQYZSW[WXVONRPPNMQPPNTSUTNMSTXWUNDJLHHNTTNKKOKJTUWUVYYYSNLKKKMONMQRTS\\]^[VWWTW\\\WRVXWX[Y[\ZUVUQRLNNPPUPSTTNCJRSSJ?HTX[YQF@KKGJSOOPRVSRUVVTRW\^[WTVTTRLPKIMTXWKNOX]\\YVTRLRYWTUSQUVQMKPWZUJKRUPJPTSNNNV\XVY\dc]XZURTZ\\[WRSTUURPWSOMSUUUTONPPMOUUUXWSPY_\YZ[\XVUXZTOJOSROVVUUWZ_XPUYVS_edXMFDOVTWRRTYWYVOTY\\XSTUYXLJST\ac_^`^UPZbeaXSOOMQOOJOPSOJMOQXYXRSVXSRH@=GMT[`c]YXYX[XSMOZVQSRNSXXZVKPQPTSL@@DOX`e[TY\[PEHNQNMRRJLHOWXZXVSWY[YSNLKSXURQTX[ZRNJFHMMPSOHSZYPH>JLHJKQVWSPPNTTLKOPMNSOXafda]bZQPVRQOTYVSXVPSUWYXUKOWWQNQNNU[VV\a[VVVTTTSYZTWYZSRMNKMV^\UVQSUVVTUY\ZMDQTaVDVS?IOHBMQPIFNUQNQ\bdaWY[TTRIMUVSPQXXSNSX[\TNWYXUTOADSZ\]`^USPPRUSLMEPXTRTPHHJIJQRTUXUKIOPOLLINVYW[[TPSMEKPSPRSQQVPQPQUTSUMJSTYXYPGFPWVWXTUXXVSTPQTSKGB?KOJOVSTaw‡‡{bOIPTXYUONMMLNSWVTWYZXVSLQWOLMPMLEFCILLJKHLQROMIHLMMLNQIKMMSURPIJHGRTTIDOTSPLKUZXTQLEEOSQVX^]XRLOSUWUOSVXWXSPNLSSLIRUVJEKRPMSTTQPSWUGCNWacXNBBNYWPLO:/10.%EXRQYgeWARRQVWbdXNSJV_`ZSYUXTUSKKVYXVUUPVOYSYYZ\\LISRKNPTYWWQNOKFP_c]UKOSSYZQJPQOPX]^]YUXZWUQPUY\YVJHGOQONVYOFMJMQSTVYVW[\][TPPSSKIPUY]`YPLIHQUUWURTZ]ULPUTT]`d\TLPYafeda]VORQQRSXWSOPQOOPOR[]SILRS[\TOQW]_\TNZ`_XVWVWWYVSSUVTUXXa`ZUTWJLJVSUWXb^XXXXXYWXSSWWVWW[WTVYVZZZWYTTSOUZYUSJTOSWTVTTSTUSSTWVY]XSTSTTVWWPRRMONJKJLPRSTRRUSUVY\[XSVX[[WTUWQSUVVVW[\\[URRV^TPNVSNJRVLNSVTWSTUROVUQRZ\WW_ZVWVVZXVSVOITZ[UXXX]^WVYS[[WW]XONRWXVOOQONLKJQUNUVSWZYXPJSUQVXXPOKIMSU\[RPQPQWWOILU\YVWTONOORY`]UTYYXX\`_\VRZ_ZV[`^WUVZPFKMPSQSWZVVZXOELLNOMPQWSVTUUWUWVXZYSWWZ]WMIONQ[][`[ZWLTWTWVV]]TW__XPOTZ][XU]``WOJLSVPOMEDGKIISZ[VUNU\XPLNVSRQQPNUVQKPPLMUWXSRROPUTXZWSQSQSVUQPRRY[[VQRWVQLMNNV^^WTUXWXWTSQRRRTRWZ^YUPQVUTXZWMJKSSQSNFJPQUbd^X[]UOSYZUVVWYXSPU[YVUOKPNMPPPPHFKPOSSWXVURRUPLOLMRWTLPMJHSYVOTUXZZ_^a_VQPILONKKUZY\_dmpmaTMOLHFIHHUWRNKOVVVVSQQGHMPNOOVXUILPTNOKQVWSTPJDMSTQQPLOOOVUMIUZURQRXZTIGNRMOU\Z`ijnqojd_ZWchcVLDDPZ\ZVTRUZ[\]_b_\UPRXTRWWQNTTWZ\TKQUONGG?K_c^VZZ\YNFLWONTNP\[QV\_\M@QSMNSRQWSOIMTNW[YVRTPMJJO[][_`]SPQMTVWX\WNFLQRVWYUTUPSRPMSXZYVOMOMCS\YUTNNX]YRQRUY`d`WSQDGRVSVYUMGENSZWMKXYXWWRRQPJHGADR^]YSORVZTRQ\`ZSTQMMKLSUPKMIGOPQSP]jmgUACNNHHKQNNNJOX[ZRQTZWPQQWZ[VNIMUWY\TNLNTXVUUONOKMOMKLORLMQUWPOSXVPPTUWSLW[WIIXZVTYXOMRTQNVYWUNS\^YUUOQPRXWUNIGIEKPQPOOTRRQQTYVUVUSTSPRX[WUJDMX\XWSONQOQSZZ[]aZ`UX`^_b`ZM16QTQFF0/GB3GR^UW@=V]J6@LU[JqvdTKTbi_]XUW_XRbdcbfeYUQTWTUWXUQW[XPOKMOPSUUVQSXTNR\_`^ZZ[TMONOPTONTY_`[WRPRTTOOTSUXUKPZZSIPTRORSGEMQNSTSUU[\XPSPPNPUXWTSOLNMMIMPRSGIU[UOQUUSRY]VHNT_ec_Y]\VNNXZZYVUPNOTNOSXWYXSTX\[ZZXJNUXXPHIYec\\_\WRSVQR\]\USWWVTUVSTUUQPRVZd`YUWWWTVVUSVSSMPTSSWZ[VVWRUWSSRWXRSSLUQUTSSVYXUSRRSVTV[YXUSRUVTSLOTUTVUTSSSMJKNRQWSWWXTTWTRUWUTQVSZVRNOV^b_^\VSY\VQMSTQVJKWTLJQUTUWQVPUQRXWW\YUQVSRSZ[WXWPRXXWRMU\^UP\^^^[]_YOSVTUPIRTORRKKNPNIPTOW`]WOVXRLNMPTOKGLPOORRVXZZ\YUORW[[ZUSSRPNR[]VVZYW^^\YYX\]]SIOX[XPU][TRMLMSW[Z\Z[WTSTXWSSNSVY[[WVXVYYUSPRQQSVVLRZTQWY\][ZVV^^ZWYVZ[ZVVUWUS[]bZNPZ^[TNMQYWTQLKNLJGJRVXWRRTTSONUUUTTRTTXXUNNPSUVYUJCLTWTQSWMJQWSSPPUVTUTZYZV\]]UQVVZab`UPNSVZ[ZWUUQQQSV][YOKOUVLX`^NOQRMPPIENUTS]_]^`e]YVXURJFTVYVPOZ^[RLMQPHLIJOJGPUNJRVXUSTWTQY^YNMMTVURPUZYTOT[]^XY_a[UQJILMMRQQSX^``hmm_VQJCIIKFDFSSOQUVSPPMTTSSSPLLNTSPFHRURRSXYVPKLEDLMJKWYQNR[YTLR[[VWRIKTOONRUQMTVVRTXdloic`WQ^b\SIELSTTXXON_ca[XWVPTUTX[XU]]VIJMOOSTMLRRQZ[P@V^]]_`]]ZOR[`[]^RQSLOOOLBCLQPIGS[]UGEJLQNMQTUTY[[XJR^^WY\UONMMTRMVWWQLJSWYXUVVUPPPQKLVX[YXXWQPT[^VUKDQZVMKQVXZba^_WQOVZZWZ\YQIIQWTJ@GNSUSUSPKKNMECO\\UQQUUUWVSPWU]ZSLMKDJRURMJDJMHJQWbih[PRSTPLNQPMMMMPUYUTZ_\QFHPWZXWSPZYVTUTTSX[QPOTUTLHLQRQVVVVUQOJIQZXSTPPRPJSXVTQYZSPUUSMMPPOT[^^\XYYY\_\QIIS[\XJDFMPW[RRUURX\ZX]\XXSSMOQVVRNMVTQU\ZPPTOORXUQNOSTJF8JZ\VW\VJ36DNQQLMG76=OPJBLG(5L1ES[\OjsmVTOourbRUXW[\_V]agebURXWX]]XXNSVUUSQTRTQONGGRXVSMQW`eea[RGCNVSNQQNP[XSTNGIQPRSQNNPOPVVUQJCJKJRWYSQMIHEJOQSQNUXUOJNPWXMFEPZVRMQTUVOFQUVUMOTTTZ\VSTY^[VRTWWYUV[XTPTVWZUVVMDPPOQOT]_]\_[TSXTVTON\^[WY[]USQNLUZYVRRSTSVS[ZSTRRQUT]dfcYSWVQPSUXUTSRMNNPQSXUQQSVTTVTVUURTTSSTSUUVUURSTTWSRYZ^aaWQWTSVVVUX[^`]XVVQQTSRQRTUWTVWWSTS[\YRORRVPJLRY]c`\UTTRTSPJJKONOWSNOUUUSOWOURW]`XTZWKMTX]^[ZTOONOLKPWSPVZXVWWSSVX]`]Y\^^YRTZ[RQQSMRYZUY_ZZ^_YY\[RPKQUWYTJHMMLRVXYWPPSRLMX[[UW[VOMNNSXRPVUWZX]ZZ_^^ZQHKPVXY[\VIKSSNPWXZZYYXRXZWROSVSPQW\XXPNTUUYTMQTVVUQSWXOPSW[ZYVUWRPTRNMPPNMMWWXY]]XPR]^XMKPWZYZVRSRJDGGLPRSUWWTNPPTUVYXTVVRRSMEHINKPUSROTTTWOJMLPSPQTVZYVTRQSVYUVVXSTVZ]]TQOMUVSSRTWTHDGQX]`[ODEHPQY_]ZQPQNNMKNRVW\\]^bca`ZUTSPLLOTYZPJV\\WRSVOECBHMQRTTPLNUXROMNPQZ\ZXQPRRMQSPNQTY^]]VSMRTTPTVUQNJLJOOS[ZYSZXW\[QHKNQTPSPJKUZZWMNNRWX[VPSQMNQPMKSYVTV\ZXSHEGKOMQY[YVTSWXTRTYY^`\SOKQXZURUQSVRNOPMWZ_eljdf^VRLSUXTVZZSPY^`a[SMIWYW[_XTXZUSU[SLRXTLQZZY]WPPRUY\WPWa`XXaegd\X[QNQLG1=C@KQKWZXOHD=KQKMQVZUWVWKT\YRV\]XUMNQPSYZSUVSX\ZWOPWWSOQMNPTUUWZ\ULJSWTQPLHUXWUKGPTWXZ^baWRTUOMY\VOKMW\ZSNIBNOSWWUMINNGAKWYY[VPPPWZTNW`ee^RKOONSROOFJOSKFHLZlnj^WNPRRWVPKJIIJNX^a\WQECJPV]_YUU[ZSPTSQXZURVZQJMKIMPQORTNTXTTPMRWVSURLMQMOTVYZYWSQWUSSUXZXWYUXXUVW[\ZXRJRPUYVMBDOZ_^YRUQJSZWV^^^UNPRWVQNIFINUUSSUSUVXU_a]MFJNB>GI<9IC6HKDCFKMVSIRQWQO>NSbaO03EWBCHMMVV`]UXYhvulWOMVcppgWVY_b[WVTWXUVOXTOORRPQUUTLLOQSMLQLNQY_[ZTSJFKTXQQQPMKGNRLJNQPVWRQPRV\\RTUSPI@;GPW[TPMKKNQZSSSX\ba]XQT\\PQV\]XUPTUSONQWXPOQQMT\^\URW\YRVVRNKEGQSQPLPXZ[_gcVOPRRNPWYRZ[TGLRPPTPV]YSTWWXZUSPQTUWORUY[TWSUVTTUSOOTZ`cdb][VWMTZXW\`[VNMMNNSQQQUWTWURONSSZ^XUVYSWSUNRTTSSRUTUU]_WNVZZZVSVWZ\VWXTWUUXWYUPVUTNVZWVTW[]ZXUQPVTRLQQWSSRSWVWSTWSLMSSUUQKSTTSQNWPLKVZ]SRVYUSWX[`]URSNIHINSROQTVXZYOLTX\ded[[WSSZZWTPKKSWYWSV`]ZYWWUY[SIEINTWWRNMMLMPMQQOORQOR\be^PPPSYWOLOOV[\]\YUVTTVRSORQIIPQXX\YRYVNPSUXVZ[SQTUTRPTVSOBHQXXSPVUUUNOUYSPMPTWXXUWSLOUTRX[MQSRSULFJVZSV\][[WXZ\WZ^\ZXYWOMOKMORMEHQSWUTLJRRSVYYZPTQSW]XRQSNNTYXTROT[\RHKUYZX[[ZVSLLNKFGHGJQLOQNZ_b_WRJJNOMPSX[STYWVSWZXULAMSSPJWZURTOJNRRGFISY^c_[SOTWUOMPOPQZQFVWUWUYWSKMMNNQQQTSVV[YSOSRTOQQVXYWRNLTPJISQSTXVTYXPOLNLPVWULAFPVZ\a^PJJS[[VMMSRQTZWPMX^^\QMUXUTSQLRQNVWSMKLPQMWYUURQRQQSPMSRSWVSRRXZYYWWUPQPLQTYUWWSRWWTRRWRPU[ddijgWMJRQJOMPPIKRPW^]XQLTXTQSRPQRMOZbZONQPKPWZVUSKHLLNLJGPVYROXWPUW][QMJOVJMOIT]]JLMILKUZYOKPQPUORMHNSIFGUZ\Z[VVUVSOMW\[YWUQQSWZRPRQQQQRU[_]ZUTZ[VRQQOW]^\TJNQRXU[caZRUXSL[_VQTUXYWW[UMLOR[`^UJNRWPNPSPUVWLQY[YZZY_a][VRQUY\[ZTMOMLKLO[juqj[KGJRXZVQGBFGFP\a_TQOQTRW[ZUJR[XOKIJLPQMOUXUOMSPNRQRRLGMOPSWSPOWTLJEKVZVVTX[WKKQQQUSTY\XRQVWY[[ZWTNQNMRYYXOLQJLPSUYTOOPSXZ]cc^YXVTZXNIEKIHMRNNMONS[ZVZTRHNNKFRH041$41*+K]dcYS>DIQ\O8'LTYMD[Z48-RTRLUJMOWlxiOPMT_rofYTZbaWVVW^_TVTWXYORUNHBLJGHSTPKLMPNOPTX[[XVQJMQQPOTRJMXYSRUNOVTQUUUUWZ\^]ZQMHACINRTYWNDKTZ[[WQU\^WRRPW[\YZZVVWRS\`[UOV[[PPJHSXWWVLOTTW_^VURLQUSSRPTWZ\cji]VQRRRMJRUWYTIKTURQTVYZbb\W[WKKUZWUORQWXYXVTOOPOUSLWNUZ[\]WYTOPX][WZ\WURQUUVVURSTWUTSUSWTVUYZYYXU[]XUUUSUTPRUUWU_\YVZZYYYYYVSQOWTWUVWTRJKORLTUWQKQUXUYWSVUSSMORRQRRU\^[TSTUVNMPVUPPJIRTMLNQPTRIOUROTTXWT\_]TRXRPTWWXVVXWTQOOPMOQVVafb\SKJRXTPUXTJDOTRJNSVYYXXYVWPKIJNU[]QNLLPPJFFFIKPRQOT_ikf\VPPRNIIMLUXTXXYVUVVSSUVPNNZXT\^^WYWVQRRVTV_a\XSPUZX[ZPHNY]TPPRPLQPMVUTNPOQWWVWZWKKHEHSYTRPNSRSPUYXTSSOKNUXXXU]d`[TSSSWTKKJNICMMMOSTVPRRIKQSURRVX[\ZXURPPWZZVNOMOKKQRQQVVXWPOSQSWSNONPSRKQSTSY]_ZPLPONKOU\]YUTTTSQSSXTKOUTJMX_[TSRKPWWN?:BQX[`_WPNURNHIHPUURCEORXZ[ZTTUXSPIKNPNTZ__YSRQTWZVROMRQQWZXPTURMIJNSSTMMPTSRQSQOINQQQX\ZSQPOUSLMGQTOSWY\YUUXUMKX_\WTPMORRQWURVYYRKRSPPQUWYWXSIJTRSTQPMKORTRSONTRSONQUVWSUSTWXZ[]_]]VQWee`UPULFIHEE?MYZYXZZYZ[ZXXUUPRUPQY]_[XPKNQVSKFJPHNQPPQVZ]UMUZSIGUdaEMRUVPTTY[\__LGPTSR[\XPXUJD@;CSTRNHIHLONTWOJMNSPNVYWPMRTROSXSHGGILTVSV[USR[]]ZSWWXVX^`^WVVSNRT[ZQMTYSGSWOBJMOLMX[YOGIQ[b_XUTUVQQZWQNOVSNRTSSVYSVY\ZOHLSVWVURL@CGGPYfoqh`SIFIQPTVTMKIQUNNUXXWPRUWVRUMKQPNKG@IKKMPQUSPQWVPV[XROSYXQU\[PLQSMNNNQSWURV^_XPNFKSTTQXULDNQSSWUWNPSSLNUYRMJLMRTNHOQRWZ]]QQTUQX^Z[baXPKHIOV\XQPPZ[]XPSSNOQUTYXGANHGLTMFMWbjieKE?GOENbcPII[U^hkjd`[`cZcSX[LisiJXQW\fdTX\WbdaUVXXTS``_]VLVRPKHHGE=FQSW[WZULGKRU\^[YRKFHIMKIHQY]URTTLHGIJQPKKVZ[\UNOVVWWLNWZYQOUVWXXWMNMKFNQNKQTTVUSV][]bc\OOV]ZSQRVWSMTMIRWQSYXMQST^`[TOMRVZY^c`WIIRX\XOY^WRPMT[[QUSVU]eb[UTQOMSXRNJJXWZYTSVVSWVZ^]TTRTVTWTSUOSRU]ZXUVUQRUTWSXWTUPNMUXVTTTVSUTTVVVYUUXWUUSNORVUX\_\UTWTW\XWTTTUZ[XWXVSNXJOWXNXUQSUSQWVSUPRQLUMTTUWUXWZZ\[YVUUIRRVVUVVRMNNSVVPJTTTTWTTXVWUUZZLW][UQUW[^^_YY\XTRPKQVUVVYSSSX[[VNV][TLJQVOGFFJNQV]ZSMOUZ\^`[UPPTYTTQQPIJKQQQP[af[ZYTGNPPQGIPQOS\WRRUXWTUSRPW[^YSRSX[XTVY]ZPOWa`\]ZY]\[\YTZbcYQTRNBJOLNNUZYVSVTMKV\[XYWWWTKQOLVX]YWSQPICLSQW^YXZ\]UOQTXZTMMMTSJLPMKPZ\TPPJMROTSR[]__ZURSKOOXZTNTRKJMWWRPVWROSTTQTVOQYYXRNJQTPOSTQPPVWYRMMMPORTSWVUTRNNOOU\ZTQV[YSRWSIQSJGDHSUVVUTSTY^[YRMNY]ZIOUTQMMQQPRQTQSTXZUPTYSRRTRSW\YPNMPRVXQOTW\[XSMOQNNQW[XYXVVVRNOUTJHPNQYWQONTVUQROV_fg_OHHIBFV\^VY_YUYTQPLLNQQOOKJMSWZ[XVUOHMSYVUROMPTXZSQRPJFLNNONUWSTUPPNPT[]__a]YOQSMUYYVRH=@JO[VRZWXZYVV[^YQSVSWWXWW\^VSOMKQURWZWSOHLJMVUWRN]YUMMURLOX\WOBEETSFKTSSTTOJSUVSa\VUQIQZ]YWLIFHKOPLHB?CRUTSOKPW[ZVUXTNNLKSY][YXWTPQVTTX]_^XUTZZZTVSMLPONOQUZXRQRSOOMROSWXVPQTWUTPKLIINJKV\ZQFHPMJMSVXUQQVYZWVSLQVRTQPKHQRPW]glmgZLHKIGNTUONQXYPHQVTYYPOTXXVPKQV\^[PKNPWWYXRNOOPORTXWY[XXZXQPNNRPMPPLDHSTRSZ^XVSNRRQPOPSNDFJNOJOSRRXSOOQQOPSMHRVPBAGLOTXZWLFJPZ_\_caZUSNNT\^^QBGTTXTMLGPPHKNPRJJLYO@U`XBDUcsvoUGHQ=A`a\MBFPYWSUXVRVTTSSOLHKSXY[\]YVSQYUTZ^^ZYWTOQSVZXSQNOUWXVTUQKLS\\XYXQSWUSNUYUMHHNNMNLDJWZUKSX[WUY\[TNVZ\_[XYUYY[WUPMRUOPQTbqwp]RQURPRRQKGIQXVQVZWXXPJIZ_ZRUTZ\[\WUTUX^`_ZYXJHGLNX_aYRV^^TSRNPQLSWSBCNUTTWYLMRNQUUROSUOBBHQQMNMJLKKLNRSUXYUSRSH;GQSLJIIORPKLSWSSVRMPVZ[]WRRTGFQS[`]NCPLMNNOHNNU`dDFWTIMY^bmdWLFEIENFSQMHV?)"IXcb`ZXWNVTJM]dYTWV\b_QYSX]Wcjg]YVKV\ZWY_^UXYSMLMMJLMNUVNSWVRNQT[[UQSZWVUQKKJFEMSUWWUUTW^^UPPTV\]WRQKOTSSROMUTQQSWSKHMRROKC?FNNMVWWWX[ZSMFJSX[[ZYVVRLKKRVVQOQZ]YWSQTWRLDDGORYYdjj]PKJRYVX[WNJNHLOV^^Y[[Z[[YULNPJ=NWVVZ[]VZXSJNQSZ^\VPV\_WWWVZSQOTVTX[^XSVSQQSU[b_YQNUYZYWTSLIJTSSORQPWVWSWTSURPTUZYTSVX\`\TUWVY\ZWXVTWVRRORRTWPJLOVVVZXWWSKOVUWTSWUW[[XVWVSS[^\W[\XVVUYXUQWVWSTUSTMMOLOUWTRTSQL\_\UOPYXUQMJFCIJNRVX]\QPX]VWYUU]aZMOQHFLPMSXWRVUUXVRRSVTQPOSV\[POPU\\SMHMUVOU_[VRTWVONQKMSWXTVSVVOISXYVXXXZXWSNTY[YSSTSOSTVUYZSMQVUQOJNVV[YUSTQOOSTKKQUVPPWUKMSVRSXWMMPOLLGXPPWYVJFFDFLPKONKMTNNX^]XXWSQTSHALSTQXVSTRWQMLKQURNLNW[WTQSNMV^a[RXZTLKNQQRMLJRTVVWXVTTYZZYWUVQQSUNMKKPSTTRTVQPQOFCEJPYZXTVUUQONUZTMTYYYQNNUIKSXRQTY`b^[XWTSY]^RKKRQNOOTYTPNMLORPVTRKEBJRLPY[\RIPX[UPRZXTQRRQLHNUW[TPKJNPKMQQQRXWNKNRUYYUQV]f^TIJNMLLMOOQUPNJABRX]_]YOJJKMNUQNVVWZYMMTSTRRSSPLNVYXVURLOOVXVTPXTOLJ>>LRUPNNRVQQRPORTZZUNOOOOSX[ZY\_^YXTTRJPUTSUTY]ZW\ZZ[ZWRRUSOJMSLGRVQNOW^_\WUWbVVQGG9HHLQY]YZ`ggZMVbP^`UPTWW\WY\`\SUYZTVXWWVWOHDCIKLIPUQOSUTTZRSTVLFQX]ZWUUQRQX_]TX\\VQTPLJNTWSNPNPUUQNQTTRQOSVVWUOWYVRTLOTUQBJOPLMOPSXRTTWURSRU[WOQRWXWY\^VWYYRHHPRRPUMTeokZNSTRWWSUTQFGMSWRRNQZ]WNZ_XSPUURPVZWZXOMT[Y]^[\_\VSY][\\]XPX\WSLHS[VQKKLPPSYRPQNNSSWW[WSLQQRPTVOJJAGPWZ[`bZPJRWVOQWXWZUNLJKJILNQMLKIKLPVVQJJRST[WV\YRNMFJU]\XORR]a_ZUG4FMIDJCCFAKV]`^^_VUB)(:NIAULF4^XUWXTMV\QS[VVM]XVWY_^YUSTUYXOXZ_VNMSSJHKNTVQLOOUTQSQ_gg^NIJPSVSKHJGGOMR\^a_Z[ZUQTXRPW]VLEDGLOSRTRONIGKPPNIKJKMPGBKSRKMTPPSPRPNMILVZ[TOQTVSKNRRNHMPT]bc^XV\\WKFOSSMKQafaRKNPSX[]VHFGNROR]b^\_^acYSUUSPKJMKSXY\ZZYTOQSQUSTUWZY]XWVUTJNW\\\Z[UVVUTTSSRW__UOOXY]UTRTRSTRQKVKNTVWTMUUVUPQWSTURVSW[]XSVUSURTWVQJSUWVTUUWYXSOVTWUUWNWQPQKWVVSSTSTTUV[[SRV^[UY][STRYWUTXWUTWWTPILLPWRWVUSXWXPY\XTW^[SUTOOJECDNVWYYQN_^UW\WUYZYKNWTQPPQX[WWWXVVVXXWY[ZXRRT[VQV[]daYWNRWTRY]\TTRUVUURNQTVUYYUX[QOIOTVZ[\[YXZPPTUPGJLTSTVVYYXVQNV[ZQPRV\[[USSRIPSRMTWWTSLRSOPTWTSZ[TTPMUVPPMILQQPNJNNSQIPVQT\ZNT^ca`[ZTUSNQTSNTXYSOOOUROPQRQPPXbd_WLKPSUX\WOTUSVVVRUUND@BMRRPSVUUTYUXUQRPNQRVURNSVVWURTUUSPJQNFQYZWSX^\UUR[a\XZXXXVUUVURSZZUNRY\WVWVWPLR\XOMJLKQSZWTMNQRUVSPONPNNU^\\^^]VR[a[QLSSRTURTVRPKKPVXUPKSVOLPQQQSSPIGCHELROS]a^JDQTQIMLMPOHHQRLJMPWVVRQJJMNNSUUYXWZZTSX[SVQNNLIDLQPLKJIHQZZWNQVYNIFH=@MNHCIOPLMSTTSUX_]WMLNHJPUTV^_[]adaWMILPPQPOSTTUZXUVUODEKOLRTOCNSDLOMSUVURWVRMOLHCDPZc_ZYNISPHDHWhteke]^c[WO\c`_ZWUVXX^^]\TMMLGY]ZUUTTXY[[d_[WVUTRR[bca_^]`\XUPRXac^SOTTSINVOONQVZZRMSUWZXTPOSYYSTTOTY[[YZZPLPUVUWRWXTZ]XVTUUX[WPV[\SS``ZMNY^[RLPNSY]XQ\hhWSOLLVZTRVWSNNMQXWURY]WKQZXTQRSUSUNLPUNFOTSX_\_gfbXRWZ]\XTRQWYVJCNRNLRRNOOIPONRMLNPTW[WVOQ[_[TPNNJCFMQTXb`[LGNTWUUSRVUVWQJQWUPPUPPRRPJECNTRLRQRYODILFLTLHNT\`a]\\\\[L887@JLV[NCFER\chicUTL)0,N[M MNPIJutVKYrrq`PNU^PNYPTXef_SU]\^WRZ`[WUVYWMJLIHIKNT[WVXWWZae`SHHLOQNGEIJMPMNXZZXT[]TPTTRU[]ZSLJSVWVRSTPNORQSSQJLIDKKHKPUVT[]TJGJJNOJIJLNQQOMVVWTMRWSSUSSSY[ZWUX[YOLQXVOHHUYVSPQPRUXZUQOUU]ZMQXXRWZ^b`^]]VPNUVTX\YYYWTTTVUVTUSS\[]bb`[YVVVYWVY\\XXVWVSVTWTYZVOTRXa[TQY_XWTVWKTOUWSXNPSVVRSWYVUTWWUTTZVWVUSRX\`XLUZZRNSUVTRSXWVVPPRUVTWVVXVV\^UWXVTVVWUUU\]TWWUWRSWSRY[[XXXVVWUXTVWVXWXZVY[XUOWXPU]XSWZPSVTGDILT[YRQ`c_^]]Z\_]UQY\YVUZ\VTUX[\[TPQVS[[ZUQSWRPX_bdb]WWVWTVXZVVXVQONRPQSSRRSTVWUOKMNNOTSUXVWZXSOPOHLQRXYWTQPSZ[]\]]XQPRSTSROJPQWZUUW[PHMOROPQWVKJPTUUOMT^VLPIKNRQQTXYSNMQUQPZZPM[^`\UOMNRWVQKEOV[QLJOTSSSQLKRJKUYXTJKNRQNTRUVWTPUUQPWQPJIOUSPW[]VOPPNLOMNNOUY^XLPRVSRVUVWSLQYYMAJNQRW[TNPTW_]ZXXWRUUVXUQSVVRNRUUSV^[XOHQXWONPOU]ZTJLDNODADBHOSQNTVVUXZXRR]b\QRWUUSLEOSQLKHCSVZWW\VQSUQONLPLMPQKEHOTTUWWLRZ[TLPSSZTIIUTPPOQVZUTLBCJJKMROJJMKMOU_[USTKLMKHOSMDITROSWYYVQUTPTUVLBIMJDMVZXQQWVYXYZYTPUNIITUHGQTRGS][WXTOJNPRKJSUTOPUZ[XQMOUSY][RRUWZTPTMHLS^]XQLNQQNR^hf\TGGMKDHIWajh]YQKXYMPRXZZ\SOZb`bVSPNOTVV]_YUVX[eh_\[[XTTQUVUX[YUYW]\[WLFPVVXXUSTWRT[YYVURYZO?FPRURLINNRSRIHICGSX\YUUQNOOW^]YRQOX__[WYVWTRTadc]V^b^YYcfbTJLIGPYWXbji_RMGIOSUUTXWXSILR[ZVQQMIOTTTV\ZXYUNFNQTRPUWZZTPX`_ZQWZ\YRUWTVSRNLMLHEJRUTNONTWSQQOPPZ[ZSLNXZVLLUYTMNMLQSTUPINMFLUUQJLQVZVRRUTPPVSMNPSPKFKQRT\_YUXSJHFIKPPVYT\`cbWOUQKKPH@EIJX_Q8;LRXd_[WSX=?CPW&7enkV8'vWJov}vkTSd\YM[[`X[d]WSRSWYZ]``\VZVVYSPJIIIKLLSPXXVQSWY\XWQNSUUTPJFKOHOY[[YZbe`Z[ZRZ\XXXXRRVTQOPPGHQXXWYVOSUNLGMVQOUV[]SJGGGOQNQROFHQWVSXYUONVYWPOVWZYRSRUZXPLQROMPQPNOMRTVXWXWSRWV[\^VWSQNPXZ^^\^[SDK]\XRUZ__\TQWSTVVVZYZ\]__\ZZWQXVUSV]^VSVTUWVY\ZXWUVQRVSZXZa^SPUXXSIMVVTVWQU[WWXVTVXWWYXXVUXSUTTMRWWWYQUWQVOXWWSTUTVRPMRU[][WXWWY]bZRKTRVVVWUU[YWUTWXTMXKQUVWUTSNYVWVXXZYUPQUVWVZYVOMQUWSSRINWTGIRTX\b]W\]ZZWV]`\[UJJT[acb]VONUVYYUSQHFNSZSRY]YV\YXYYVOMPVUSQRNPSUSRQJKKOKPXVPIPRMQWYTSRNPTTTUQLOUWWVX[][UQWZ\WRVSOVUMGKLNV\ZUWZXUXTUWRSTMIFHLVSKKQROOTVZ_\MKPFLQQRQTVTQSSVNONQKFMZ[[WPLKRWVRNOVXUQOVWWXVTQUUSLJMUYUMQTQQUWVUWYXUUSMORVTNQSRMS_a[UORODIQPNFCOTTNMTPOQPUXSTTNLPVRQZ\Z[WN?BQUXY\^`_[WUXTSSTX^^VTVXPFOXXSMKMONNPQOLTZ\TQMOVTKIJFEBLJBFHGLPSQFKRYYVSWX\YTVYUPOUXXTTRTXXURXXVRRTVPJRYVQKTUYYVSRW]YOHTSTUTS`b]RPTTTSQOQKILOLJKMGORQPFLUYUOURRTMMTVPORVVY\\XYYVUWXWTSOMOKJKOZZ\YUYYVWRWWU[\TPQYYSPOSMKOOQYYWRVXVTNLRXXTRVWSXUUVZTLTZ^ZXWYOR[RAJYbgcaUOLLSU_`XVRRRHJT=,KZagBJOOYLJQQYXUUOTY\\WIPNNV[VSMPQQUX_`YQVYTMJGDLS[^ZWTVZ[XTPPVXWSROPRXUWXZ\\TNPSICHOVYTKNRQPPOLHKJGLUUSTVUTNLT\^[SLQWV]^[WURVZ^c`^ZX\`b\Y]ba\OFEFMUYY]fleYPQSPINPRWYTRQSVUXWRSQNNRNMQXWQPTVMDMOSUTWYRNOPQROJX\VY[YVPPQPNLLKIIPV[TKKMPUVQPPMTYUJEBMUVTRTVZRMPSQOPQSTT\YVMQVVWVSZWUSUSKKNOPUSRVPIGLPQV`faVOSUOIBNTRPPSTUV[VPXZTLJHMPSLW`\B9CGOMJJND@;<=7'F`oqj[4 PRP_YYXTjgWWV]dU`[]SUXWXLV_c]VX]]XISQOOORTTNHLOW]VQPOTWSSVWUTTRPOIGLKORTYYY\]]X\[UUVNJTXRMVYQOVQDHLTY^ZSLT[VLHQUPNLOUWTQQNMUVSTRNLLTVVRRXUWTWYQKPQUQPPNTV[ZTKMLIFPQMSUQMSWVWSSODNTSVY\VPVRJQRWYUXVRLPZ\YSIJW[XRPVTWUS]ba__\VXU\^XWVSWYZ]\YTUWXVPTY\ZXTTTTORU[YVXRXX\XTQUINUVSXUWXUVVTW[VUVSXSXURTXTWSSRTSTUWWUNYWTUUTW[]XWVWY^\VYVYZ]\UTQRPPRRUVWXWTUXTTUTSRUTQQXZYVMMUMMUYYWSRVTVWX\XQMMVZUMNGGSQJQ_`__\Y^]][VLJUXUXSLMS]ceea^[XSVTXTTUQNNQVYVXYRSTXXYXXKJRWWUVRNJLUXWPHBIHELVYSLKPNQVNPSQNQRPPLIIQYYYYVUW]ZPPZ\XPR[\TSEAGMSXXTMP[ZUQQUVYXVRKB>FSWQRYZRTZ\[ZYPKLORWXRTUVXWRSZYVSICKYba[SWXYPPOPRSTOLLLKNMONJDLUWWRONOVTRSURUYXUUMVW^^\YYYUQOUUQYc`[VUSRTVOPVOHKMLNSVNKS\][URROMTYPRZZW[XNFGNOQUTQWYXWWVUY\^^b`WPRYYU[]YUNMMJGHNPVYYZWUTRSYVRWWOJKOPNRRSNQSNHLOKQTWZ]\]SMTVTTSUTROPSTVTRRX_ZVZ`XRTXWRSXWQSWXY\`YNJQTPTRYfd[NSWUNPNPQMCEFLI=CJV]QRRKJOPLNRVURU[ZWTVUX[]ZYWX[ZURVXZVSPJHNRQV[XV\UQQOQUW[XOKSRRUXWTQTZYTUONU]dgdZTWZ[XYZWKGOXbfbZWW\]TTPGPXQLOSXXZX[[UPNS[WQTXQKELUUFE,LYcOI>BFKLNHPT``UNZZZXXWTWULBLXWWRQSTRNJHHMTNGBLZ^XX[XTSSQQSYY\VOKOW[XLILRTKBGMNUXUTTRKMSPPNJMJKPUSXUSUVUTMPMMQTTSY[YUXWVWXWY\ZUSV]^_^_XVWbe\MFEGLOLKVcb\ZUPLLSSQMNMMR[ZVSUPSWUSLKPXZSNMUSMLVRQTTVVTOUVQKIOXYVZ`a[RRUNLHFNNJJRYYOMKLPMJIJLTUPDBCNY]YVVRSVUTTNLMMTWYWZYRMQUZXSYUPQTQSRRPQTRUVNAMOKHKX_]VSZWRJNP\]ZQQVSGPREPTMLRe]YVQ?MAIOE?4?HOFLTTQS]^R$MnmA'/5.WfVXYSROVTOWfaXPXXbXPVO[[XU[`[PNXXQULEFMNSSVSUUWVUPKKTV]]ZYUPB9CHH=BINQZZYPNUXTONVVWYUSXVUUVOHIMTUWXTQOTZZWOMRTOEHSV\[XNLGEFEKMJKSTRS[XZYYRPQPQLLNMMNNJNTVMFPY\XOSRRWTOKKLTZXXXUSSSSURJJPW[XVMOVXQQRTQSTNQZXVY[UR]dVVZ^[TPUVVOWTXSWXVXWSQSWRQUPLKNOTWVW\YTVOQTRSX]_\WUXWUX]YUTVSWQPTUUUW\^VPNOTVWVWTTUUUXXUUVXKMXVZ`ddc]VVUTPTWWVVY^[YUVWTUVXUYWU\\ZWWUTQTWTVVWXXSQWTSXURRTXPOOPVWSWVUZZYRHGOUY[][XUPONNHJNSV]ZVRRSSRNNIIO[__]V\^[TJRU\`\YYZZUSRTUSQQRSUXWWRQN\^YOPUROQSMGEHQXVWTU[\YRNLRLCGV`]XZ]c^VTYSSXQJQWTOQNVQXSQZ^Z[WVOJBNRUSNLKLRY]XIJQSVZ]Y]]]YTW[XPCJTQMPQRMHLMTY[[XVWXTVYZUWQMS[YPJT[aa_VQTSNJRXWSONMOGAIT[YXQNNU^^YXWRQPW[\M?RXVUUXTKQWZXWVTRWYXJGHNUVUVUSRSWSWTNMKHIOXTNSPLOQUQGKNQSRNKCAJQOQVYYZTR\]PLLT\]ZXTLMTYWSVVUVW]VKMT\ZQHGOSRNHO[ZPS[\[WW]\YSMMLNWTNTVWRRYZWWRJGVYYWWY[VWUJJMX]YOJQVVRNNPYXSOORZZY\[`cchhaVQQQNLTVWWUQSU[][XVRTUMEMOTXYUUTXTRPUXVSUW`c_TTMQXWPOLEJJIORQSQSSSTQPSYZ^]][SMINPOLKNSSOMQPQYcf_YTWYQIKTUPJW^`dgfb]VQLPV\ZW\TPT[\YVROOHMJQTUZ^Y\[^^SHOUUS\XRT_`\T\XS[SPVZWQSVVZSWV`d`XOSWYUSNOKHLMNBFG9&?D_PWXVUWWSMWNWPYKUU]^YXUVW\agbWPRNWSROQQW\[VRSXYXQLENZZXZXVUY[Y[ZTKLS]^[XTIQV\`]VKLMUZYSNLIJEEFGNQNHKUXYWSW\ZOIQQSPNJOMOPOOOJRVTRWXWQMKPTXWTUTSUTUWVOOQPPSTSSUNMT\]OINW[\\TPMPSTSVTTWYWTPRTOQQTMJTXXXVQX][UQNRW\^[TUYZ[WWTVVWXW]`^ZWWRXXSWVTUTSMWQTWVUSOOY\XTVTURWX[ZZXZTQSWUXRTRTSQNN]ebXWTSMNQTUUVOQVVRSRXYVYV]`[UYUSVWVYVTRPLTMVU[]UWTTSW[]ZWWQVWTVXTVWUVWROSWTVXTTQTVXVTUVWXZZYYUYUQP`b\ZTRUWUSXWTUYWTPPTX_]^\SQPDBGOPVVVTRR^e`ZWVPTWVOGLPWUSQUPW``\XYUY][[_a_VNKLRUUVY\^XRNIPRV\^QOTSXTMGP\ZUY^\YZZY[WXXXY\\YVWYUWWZUSQJOWSSWZUQTWTPTURRTVUUX\\USOMOWYadbYZ[WSYTYVRRRORQTWZXVTPMQV\^ZTUZRJOY]YVU[baZZVVSRPJJPYY[[YUSTQPOTLEP]`[YUXZ_a`XTNJGKLOUZWVSQMOSV\YUPONQVVX^a_]\_`VQVWUROJLSXUV^`^TRMPVRTZ[VUSVVVXSRX\XXSUV]YYWXYVSSW\c_WFLLRQMOQPVXUSUSROSWSSHGOSPQY[XYYXTPTVUUVVWSQPRRSONSXWPTZ]OQXRJMONNPWXUWWUTSSOIOURQOPVYYbfbUSUUTTMLROGOTUQUY][TLJHJXYVSUQHEJNQSUSPOTUNLLKISVTSOQWVQNJSSRRSVVSTWZ]ccca[TV[[UTTQONQY`VNORPRQY`]Y]cdhihYPOSPV\[]aknoiaRGNVVYbb`[[ZSVZ]ZXQSUSR[U^[UL>LNKQMQSbaXQTIHGKT_bd\X__Z]\ZWX_ba^Y]^YUTMHJHHJFKOQTUSTSONWUNJMOORYYZYRKLPUUSLPRWWVQMPPPMOVTNOONIMSNKWUURKQW^b_ZVOJNKOWUTUPIJMNO[`b]Z[ZZTSPNOQRMO^dd`eilcWUWPSSWVRUW[bb_XWLQUOEKSWXYYOQV[XWVQLQYXUTVUPNKV[XWRKOTTQOLSX][\YPKVTJEIPRQPQMMY^YSXQHRVSUW\[SOQSSPTSVXSWVSSQTSTVX[XUOPVYZ\VUTOPTWRLKRYZSRWVRSSQPMFIPQQ\`WW\_[\a[YRTE3DMHY]QNY\^SIUWQLLLHGRWAJTKSK`XOO@EYN;XSSU\YWVPQ^YPVVZ`^egZTUVVQMT\WSOVOLNPW]WUTTV[ZX\[Z]]YSKQXVVX_ZRNONUZ[ZUPQXVWSOOJKT[\\VSQMNJHFMMIDMUXYYSNRRFDMTXRIKW[WTSRHBFHKNRRVVSNPQLLTYVPNWUVSRORPKOMGHFEIVekbONVYWWSLNVYTWUQOOTQQNNNQNIPUWWYUTYXVVVUTNTZ\XLOQTW[UTUVYZ[SW`]UW\VX^`^XUTWMWSVWY\WSOSUZZWVUUTWVWVTY]UVY\XVXYUQOJJLU\XWXTTSTTXZXUQOUWSVTSTTRPOYWWYROVW[\XMWWYQWYVWYXZ]\Z\^_ZYYYYWXUYY[XUVVTPTTQSWWUVVUWWWVVWUX]_^Y[^XSPWZ[UPTY[RQQUYZ\[YX^[VZ\bf_OLLKQXRLRVTLJWdda]WTYbcXKIHPWROSX\aaZPLGNZ_^]ZXSPGMOORV\[WNOPWXVUPQKKPTRSVSPTYRNOXXYZ[^^ZV\__]U\^^_bb`^[UMORSKNTTRRRMMUUTNIFNTPQPKOQLORVVYZXYUQPOQ[XTXURUXYZQNSURLLOSRILVURPS[\QJSZ^TRQSTXWVPKLTROILNSQSNLPQQXaa^Z]^`bb^XOOONHHRZ\a_ZRKHANNPMQQNRVOKMORRUW[YROQSNKHGNX`__^\VRX\YTSSSX\[WSZ\XUMMRWVSNMOX[X]YY\\\]ZSOX]__[\[TXWZ`_YY[ZVRSUUUWZZTQQVVSMPWWUSQQMQZWZZVPRTSTQYXLRYXUORNMITSQY]X\YWRPLNOPQNPVY\\X\`^YRQQLNPJMTUQMMNZ\TVMHRXWUPNPQXXWWSWUW]\ZVQFALQNSWTSUWUNMMPQRRRNOSRSOTVWSOWWQIJGLLJOXXPBHQSUYXXWUV[ZY^ag\WPNCFOTWhnnlillfXTX^^^XYYTU\\SMFSPSPQS^gkdYLTTYLPZ\XM[\TGKU\`dd]UWVSST]ZRVZXVSVXRQWXYQRPMMTTSSXSUXTQUVTMOVXX[\ZVOHLQPTVWTRVYYROMLJOONPKLJMNRTRRY]ZVMUX[ab_XTRMMR[[]a[NOQUVVWRQUX[\WPRXXXZQJITbgkmpofXVRNOPMJP[cjjf`SEENLMLQNPRPOMVYTTWUVUTYXZ^WSPHMRTQPJMEECJMX^a\WYTNNNC@JOOOPPKMTVSPQQPUZVSUYUQPJPSVWMHRPUTQPU\\VPLHPW[aa\ZYUOPJHKNPQPOVYTPQVWUZZWTG;CIKZ\OGX[LLVZR]_YSY\XRPKQ[YUB6;@F=LVNUZSSVVVSWYWN@,:Q^NALe_XJSSOKcf``YUUeqqm_SUXQQ`bdc\WWMIEP\\VQPTXUSNQTPRWZWPT[^[^\VNNKFNPUTKMQOIEJPQOPSY[UNLTTPOJBHOQJLUUVSWUMNLJSURNMNTWUPRVSPQTRRLKOOVXZVOMRTROX]\ZXXWVTPONJLMJJTfqk[HHLPUUMMVUW]YUQPIHNMOOX][`e_YVPKNYZXTX\WSV_]^VWT]ZXVX]cd_ZWWUVX_^]_`\TSWUWSPPMZ]SQTTVWUVUUXVTXUTWXXRQWYVXcbYYTXSSVXWYXTSRTRVVTWSQWUTVXVTYWXYXWZWYWUY[\XXONUVUVSPQW]\XY]ZYQQZ_^WZ_UYXXNQXWRLXTTUTRW[[ZYVVTNOTZ[YVWZXYZYYWWUWVVWWZWPU][WZYXZ\cgdVNTVY[VPQTURMMY^bb_X^ggcVMNLVZXWXZ[WSSUUYaaabge`YSPRSPSV[XZVWVUUUURYZTVUSUSOT\]TOSSOMOV]ZUR]fb]WWV\ce`^^Z\XWWTOMPVVX]XRKLPUTUVUUSMMMPU[[SW]ZV[XXYYWPLSUSPSUURNSPTW\\SNKRYVNQRQSNQT[]WPMRT\^_XPMKKMNJNROKJFKRSZ`b_Y[WXVZ^ZVONPSSNKRV[VKHDCLOILSVTWZTNNORTLGMUWQLDLPORWZYZ[\UQRYZOPUTLEQXUSTVVSPJTZZZ]YZ\XUSVX\\]XVTSUZZY[[]YUNNQ\Z[YWRLUXVWQTWVRNMQVVTRPSRSQRMTXYVLIMPKV[\XYRSTUTTTTNICGP\]a`ZOKMQSSTPGDIRSRUacbZSQMHDLMFFMQNJKYZVSPLNRSNKGIPVZWSUQNOW]ZTRSVY[[Z``YOKGONPSVYVQSVUSLF;BNPMTUPOKLTTUSQJ==BSTMPQSUQPQRGFW___UHCIQRPZ_bbcswrkh]b[YUNMGEQSGOSMPLRT__^aeZVQNKPNOKJMOMRRPLPWRPTSTRMPUNOSOPPLIJMWRJNSOFHFGHRXYY\]^XOHHDHNRUSTRPF>IUWYa_RWQKGVNKNQFGDFAFHYSBBEZCND/=ALWWTTOORS`jXMUWLV^ackYRTZ\Z]\]STRYXWWXXWSSRMNPQRUUURSMKOY__UKNSOFIIKLW^]YXXSUPOYY^]UFLMONKMKJLNJHLWY[WVOQNHEFRXUQMOVSPOLOQQPQTVUUVSSSRMNWad\OKRRRRPSRQSTWPVQTQLLIKJNRRONPNOQRW[\WXUPRUWWSQVYWRY][VJMJQRLLHC5S\TBCC%AMGLL=RLKCD\aebb^[SMLNNTa_VRVVZXOOU^WRLEDDFLVUXV[^_\[XPPSMNW[XROPOPSULGMORSSILRWTSQUYSJML@3EPRSWPU\]XQQPMSUXTV^\QSXXUSTTWSRQIKMWYW\YNOSPHDJNPOOSKPWXY[YRQPXZVXTTROV[YYYVY[]Z[]VJ@CEGNPUXWQPLKQTSTRYWXWVRKINZ_dbaWLEOTVWQSLMQUYX\bfbYXac]ZZUOHHOUUTOMMNLOLRNRNORYV_lxzvhUSVRCHLUZ_b]UV[XSQPMSUTJHNZURRQLNMKNLJIQRSWX\[VPKNUTSSRIHDHXca^VXY_\UOKJHDQYXPHKJCFLLLOOOSWVSPPTPLOTUTVTQSPPRUVQRTVRNOY][TUNHJSUSMKPMMLRZYSUXYTOMKRRSLJNORNKIHJPSV]joj]PILRONSRNRVUNQUSSVRPMMOR]a^ZYWX^`\QO[ZSOUWYXQLJILFIQTXWXYZYZZSQUPOPLPQOQPQSUUX[YWV]WTNHOPQRV\^UQKQWZXXZ`]VNEILJMLD?FKRTQD;DJRVXUOQRZZYYUSMRRTUMKY\VNWXPVYHAOQVPMLHOTLDT[WOLIGLWWLGJTZXYa^_LBA@5AXbeg49J@$,)9?TouiNSTZY]el„zXSQU[L^niXUXTUUYXTMPUXYSRONOTSPOTNFIT[XWUOONMSWUPLNFINPROKMPQSSLOT[\[ZXYVNKLQMNRTTQMKPQFFMTSVVWTNMOMQXZZTOHPXZVSQLIKQTSRQOW^^YWWY\XTROQT[[WOHHKNSVQDCMUTKKRTVSSQRWWPNSVTOPNMHJPSXX]`TLR[df^TMSUVUOJORU[]WURUUVWT\XWUPNRVUWYWTWKKXXUXTTSUSVVSPXWX[_XUYX[VW[Z\ZVSWUYT[XXTXWZVPRWWVUWXTUSMJNQUXXYXTWYTVXXUXVXYXXVTUYXYYWXVWWZ]YYPRXVYXXSTVWWQRUUXNOPKPQSUSWYYWTUWTQSSXYXUYXRNNSXZW[\\VHW_]WQP\]YX[YZ\SPLPILX[WWWPRSTQUTOOU[XWZVTRRPTY_d^ZTVRN[a`VVY^ZVZ[\YZROSZ_^WTTTQPPNKISWUSQSUY[QMPNFGLVYY]VVSLKVSOQMHNX]_^[VZVSPPNIMW\`aXSYXPRROMQSTY\VONSTRSSVTVWPOPROPSYY\WSTWRS\`_SQRUVTPOVX[_]QJNTW[XGHJPPQRVVQSQZ^YRSQKFGTWZRLPPU\[VUUPRQTRSXVVWSNRZ]\ULKNUZYXYXXVQMRRPRTUVXYVVV[WYWORUNPMJHQNJIHLRXXUWYTUVSVXOLNPNNKEJU[VONMT]^]YTLQSSLHHLW[[XUSVTOVXZWPIPSQNQWZTGJYURSV_`Z[XRGFSUWWSX\^WQPSRNPQRR\a[WUROVVRVXSMDGPYZRPSNPSLGDJOMJPVSLNJIYYTQOUYUPRXZUVXUTRKN\b_\_XOIEBGNSSOJKPJELQNMPT]a\RQMLPQS\dc\KEOMVVX``[XVYXVZ__ZXW`[XWWXVSQRYZVQQVNGDJOSM=CKPW`frtriXRQSPFPW`eeahe[PAGR^[UKW^POTMRUURPPKKIUWWPVXPOOGJSW[[YXUNPXZULNSZ`]RJRTUX[URNNIGOVRPTQLLQTSSTVQHMSTX\XSUYWW^]UKQUVOJPYWMGGJC>KONPPQPO^c]NJV^`VKQVYSLFKUWTMPQQPQP\mrl_SKOQKLPWWRSTPOUVQILTSTXXVXTQSRV[XPJT]]MGOUYVLOVWTMGRXZSW]`a^UQOSTRLJMSUQJHTVTX\YUSRRTVTROQQRQOJMJMMTXWVTSLQSRKKLLOJEFJMPRNKHGFPTWQSUTRVTONSQRQRRUYZRQOJRRNHPXQPENVUZ[SPWULG=A9MRSUY[[WXZb\UGGC:MYRWP9)1Q=fk^PSLXY_f\bomY_WKYQPce]UUQSNW^MKSWVVSSUPNRVUTVXUQNUXZ\VPPNNJMOSQJPQORPLFKRSOGLRXZY[XWPNKKOQTUUSQOQVXSMONPTXVURQPILZ]URU]_][OOWXRMONMORLMTTRRUX[[ZXNNS^c`ZQODDNWXTTSVUNJKRPPPLOUSPQXVNKHGITUTQPV]ZLEGO\caTNOPZ_d]VTTXVYWSSTX`a_^ZVUTY^^ZVQXTVZ[UQWTMTTXWWUUPKSZ[WW_a`\XTKTWTUWSPRX[TUTSXTNLVXTURQPUTVMUXQMOSSMYTQNXVPMPTYVXXVVYZWY\ZYWXUVXTRPUVTWYWQUYZYRSUVUTYVWXXWXYZYVPWVYVWZWVYVTXZ\PW[]ZSY[TT][X[[Y]aSSUY]\ZRORPOW^[]_]W_^WTPKPU[ZXWSRUQNSXZ^[aaWTTZa_WYZVRQVZWUSSTUVWSJDSZYRKS\ZSUSPTTW]]\[]YRLQVZ^^^UORTTQNUQMJNU^[Z]debZTSQNRW[WRRWYURTTRU\[YWRKJJQU\[XTTVZWUSOOTPPRRORSOXeh`URYZWXVROSUSRTQQSSTSUSUSQMMSSSRWXYSUVQJIKTUKMGHIMOUVZ]]\YTSSVXWYWXY]`]USQLQURSXZYPOPLKPTXY\ZZWWXUQUURORPLUW]^XJFO[aZTTZUNMLMPTTTZWOLKBFNUSRSTRNKSYY[[XTWSOQUYQSKITWSUUOQQTZa^UOUWVTU]ZRTTVSTW[[URUWXYTQSNKLSWVQKQQQafbZYPQUWROWUJPRSVWMNOPPSSPJKSTIIUUSOHHSVUTSTVVQVVTNOOSQKHRZ_YTRRUURSLNLIJBFNNNNLNQXX\[QJMOKMPKPV[aUMQTWUYcc_YWWRMOOW[]XVPUYWXSKMSWZUNRTQLEBIPMKLONTXY^ksusojeR@BKOTW^ieZA2IY__ZTX^b]_cbZZXNQMLRV\WS\\YWWUUUUYY]][WSPOIR\[[]_[WYZ\_ZVOGIMMRTSKNPJHNPW[\\SMPTOTWTTTNJLU\WPQQSPPSWURVVZTHJQPJINSMQZXJDMY]YSORQQLIPUZVMPVQPPQ[dig[PKMMMJPUQNNTSPNOJIX]\XTQLWYZZSOWVQLTXWPSULTTRRYYTMNUZYSQXXYWSILPROTOOV\^SNUYWUVVRPPLTYYSOU]WRPQIJLJMUUOPPTVZYUQTRNNOOKILQUSRNIHT[\UMCFINOIKMTYZZTY`ZVOKQWUQNPNLTW[ZUVLJKLPQR<57T\XQI@PURM?PS7%??BBXRPTMRUTWUOSXVOVR\_\WYSWTWUWXXZMRSPSUV[UQRTSVVYZWTVYTTSRPQJFLPIHHRUNPRSPNSTUOKPQNQWWXYVUSPORQTQMLMOPPHNRPPSXTPPSTMHLKKT[]USNRY[VRPMLQQKNPQOPQRMPWZRFJNWWOQUPKQUWTUWTURILQMFLPORKOU\[VNOLEHMOQOOLHIPRS_hcYPRUXced\SNNSTSLPSVY^[UUTOJV\YWSTTXV[^\XTORJKKWWXWSRNVTVT\cdcZUNOTTWTSVWYYVURUPXUTSWYWVUTVXVRUWTNPTSNMTTQVWVOWUWab][YXWYYXUYXWWVPPPTVXTQUUPVLVYVVW\^[WWXUV][UVVSSXVZ]YXVWZZYXVY_QV^]Z^[WZa_RVZXWXPQWZ__[SRTTVZZW\`]_c`XNORUY[Y[YTONNPQPQWjvtfTTZ^[\XTNENV[\WRRY\WKMWVUZ^[S\a_VTWYZ\\_`][SSSQY^ccaXSQVTOMPMRRPHKQTSV_ab[UVSSRTWWUQRUUUVRVYZZTVOMHJOTVTMLNVXWTPRWXYOMPSVUPX_[YPUZ]VSTUW\\RO]a]VOMW[_YVTVQPQUYWSONUWQRQRTRRRUROEBJRZYZ``ZUZZXZSQVZ[\[ZXWSPUUTSXWTZ]TIOTVSSONPRWXTSSQSUVSRRX\UOMQZ\YT\dc_TSMRRV]`_VORMPUZZPQTQKMV[Y\]VYYYQJIFILDGV[Z[VSLMNY`_RMPWWRSPUTQSTSPTW]XWYXURJEHJILY_^VR]\X`khYSXXXWUOPNIOVPMTRNQRPSXVSNPTQPWZRHDIRWZ\][XWVQTPLOUY[XYVXZWNHRWVWVWXOJLLGNVVWOJT]b`WMMNQRUSGGJWZUHLNTTW_cYPQZ]]VNMX[\VNRUPOTRRTTUTMLFHNKDHMNRQTSOOSOP]jnsxuhWQJLNNQXYOFS\cYTTCZdfhYKVWTMKLIQVYTKMTXXQPTSPNV[\^VSSPLFU\^VW\[YZXZXRMTPPMJHSSKDCINRRTWTRNQNNGNPTYYSOLEIOJDECFPYZXZ[TSPMLOPJALNJLSXRNLJNSYTNOUTQQYVSLQVUSQMUdnnfVMLMLKPPIPUSQLDJILRSWSPNRXZZ^ZVYZTPQTWZ]\XTSRNQWTONOUSURPOPPPRR[\XXWTVZ[XLKTYWTSQSTRW^ZQT_d]TTTPQXXXXYSTY\\WVQRTQIIILPLINTWRNOJKWZ]PCOVSPQKJSZ\ZXTTTTRQQMLJGMLR\__]XLOOOMQOH@FS\VNJKCIQMLBATXD4 0Qdd[ML=F/E+%*@XUK[kdYMPSIW`ieUVWWLNXU]ZZT\`XVVZUIJTVWVUTQJJIQUUPSSQOUSSTOQ:-6PYiba[XLWicTKXPYQ]]TWVS]WPMU`TXYUSLPVVUUTRRRQOQUQOLLNUZ]_cZNGHOKJLJIOUOQRJCNTMJJILVYXSU\XQJHNPMIHHR\c[NCGIIHVUQQUVSKIKNWYWUWUZYVPQROCEPX\^YTMSZTOUWUQWa^VJJLOOQRWYTOLSTJPXYQSWSOP[a]VPPK?FUZWWUTQPTQQQW][TSOQW\ZWPRRXSOVTXTUWXUUVVVVPRWZYWTX^[XWZXTTURMMMUTJUTXVSY\XSUX][VZYTVUTYWWVTTUXUQXTTUVZXSSTSXWSQW[[XWXVXYUTXWXXUXWWXX[UROQXUUVYXYUUTXPPVTNJRUSXRUWTXTX[XUNTTXXVWUKOXWZUWWUTWXTMUT^_\Y^ZZ\]]XVRQPLJOTQLFDOWZ]_`^]`ZTXXJNWTRTYZWVWRMW`^XNHXbkld\MKMSPPQSSTTUSQT__ZSOSUQOSY\YTSTTQRPKRTZXSQY]XPP^edYTX[^\ZXWQMMKKTUYSPQVVQRVXYSOVZY]]WSLRSVYWPOX[\YZ[VKJLLLTXWRPU\]WWWX[cd\NS[SNNSIHMVYUXZbe\VY[ZXVURPPPOTSX\XMJY][SIKZ\WXXTPSRURPNMSWZXXXXWVWVYYWKFADORQLJSZWVZWPHRW[_b`^XVOOTRSTOIEEEILORSOSWSW^^PLTVPSY\^bd]UWPNOPOMPXXUNNMJIMOKNMPXYVMIMPPSUPLMLKSTPY\ULSXXRISV\]UTXSRRNMHKKPUZNJUYXOJRX]_YUWcnj^LJJPSPID@DRTJQVWWWUYUMJLTTRPSUYXVUWTJILQUXVWUXXVUQSVRWVVLJKMWWWSNKOXXQPNOPQUWZZWUWLJTZYTWU[]ZSVVZ[VVXVZ]_TJMUZYSLPSPKJPQQU[`a]VMMJFFKONRPJHQUWXULBEEGONSQKIMRT`d`\XVXZHQZWQJ8DPP@CLSW[a_XPY\[Y_\`\UOPPPNWZUMMUKMOTUZWRMKIP[]VVWYZ\Z[ZTOLQVTOC@IKUXTRWVUOMPKKRZ[VPNPNKKZZPFU\WJFLVYQKMXTMJJDHNPPSTSPRWWVUSQW]`XRQX[XROU\epxscVPOPTYZZZVTPHIOUZYSQQTROOINT\\[WPOFGFRSVWWQQV\YVMDGOTSMOQOSXTLHKMLQXYWUUWRNIFIKJJJOVWUQUWVTRYXVTUOCDITTVYb]RX^QORPPVUUPSV\SPMRSRQXZQJGJNSTTVXSNKPY[VQRTPMDDHPMPOJVZWDCQY]YZVGHSQDKGISSKMH?CZ]IVa]X\\[\Za`UF+ ?TQ>]QVJQSb^WSTQKLVojgXXOSVTSVSUU]QLMVQPOLNOOOMSWUMNNV]abdd]UVTOQOONJPTWVOCFPTNGLPQVXSOLQSRQSVROMIMRUYXWTVVVRRWTQSQEGQTYUSRTVTVYUPMPRSRTVUWTTRUYWNNPQMQZ\VRSQNLNQUVSOFHGM[b[TSVUSVUTUUWXWPNUZXQU[]XVLGKP]]TU\[]]YWZ\]_RLRVQPPSRRTVTYZUSRWXWVTWVUPTUTVTSWSSJRMTZ\[Y`_TSV[]WTRWTWSQVUSVUZ_]ZUUQQWSV^[XRROQTRVUZXVUYWYURSUTNVXUVXUYUTTRVYXPRWXUVWUNPYTMMTZZUUVYUXWWWWXVWXXWVUSTWU[[WY_ZV[ZVTYWV]ab`YXZ\_[TRRTUSTVSMKLT^[Ya_^_[VRQRONSTTVZ^Y[\VRWZWLKNVRWciicWZYSOTUUXUOS[^YXUMHLQTURSTSHOVTNECNRQY^]UWZSQPQY][ZZZTRX^_[XSRY\XONLNNHFHMUXVbeh__`]UVUQRQNFRTZ__\ZYYQIGIT]^ZTX[]d^SKNTTMHUYWTYVOPSZaa\[WWVYXTWYZVORROOWVWYYQS\`[TIM\[WY[USURRSSWSLRWXSTVYWSWURVQHOOTTJJKX]`bc^YRPSZ`b[ROQNPXRMRTSUNLMRV\WKMUWY`aYRZXTSTUU[_]^^XSROF@LZ_\\[\XNOQMTRV[\Z]YVLMQQQOPSPRTR\`XPQTNCDMRZ^]XWWXSQTLLPMNPILQTQMDFKRSSSQ[loj[QDJRTTOHKQPIMQQRTUYTKNS]\RJMSOMVYXTSVPGLSTQPRMLLNRQNQX]YJINRVWSOLNZ[RLMKNPMIPTSSOLIUXYUSRUSPNNW]`UNRVSVXULNUVVOQVSOHPSQORVVYYSPNNOJKPWYVRNKVWXYUPPNI?GGDCHROWZhha`Y_Y[KSQOGQWRTPHNUMTb`ZX[ONKU\Q>HS<8;7ONLPVXROXOSPXST^lmd\W`piZ[]^`_ZMHJJMKHONKMVZTROMHRZWXYXUUWWLHECISWWTULHKRVQIGQUZWUSURINMSWUNIMRRST[_^[YVPRTRUWTNRVRNNPNPWWSQNJENSUSSNRXYXRSYZURPJDALS][WRKIPQLORK>BDKZ`\VUWW[XWVTYZ\]WSUYUPOY^]WUOQYb`QPRW[[UXZ\a^]NQWVPMTVPSVTS[YTSRTZWWTTSRWUVVXUTRPNIOQVXVUUUX[[WRNJUVWWVTTWZUY_ba^[WTWVXY\VRTSWXYYYZVSXRPMPOOOWYUYUTZXYVYYWNSVPRLUVUWYXPRWUOMQORMOTQNQXUXYUV]X[XUVXZYYX_ccaXTTW[YVVYYQTZWRMQRTWSSURRMIJNPUTX_^VZ[VUPOSTV[a`[TQW]_\\XUYYVSNTUQU^fihhd]RLSX[\UPU\^Y[TEFJMQTPOPQRQRQSPRXUPQ[^[Z\\]\WU]^^a_ZSRRTZXUSZYTQRXZ\VOQSTPScnpldaYWVROMMOMOQPUXZYSTTJDMLSXYTX]`XOOPQSKLXd]Y]\WTPW^]X[]XW^`^]ZQOPPWSQPGGRTPMQZ]^WOPSSOOTXZZYSXba\VYTKHOMIPZ][_[VWWZ\TPPUXY\_]ZOOJNVYWNRUYUUWSSRSXVSNPYa]VRX]aa[RWZXPNJLSNGKT\[VNOGBNZ_[V[[RMGQSSPIFFS[`^UPTY[WUTWXTKRUTUTI=DKMOSX\]WWWRPYUTURTWXYWVQNPJKSUWZUPbnodSNOWWYWWUQLMSQTQS_aVOJMVVQJLWVMPRRSXZVIKMKNPRPLICKKLR[]VECIMTTVTUUVVLJQXVVTQJNPPOMPUWSRNKJLLMHL\a[TVUPOXVQOQRQFJMMIMWZZTSVWTTVSQRSOQVWXSSLEFKKQXYYWOAFOOLIKRUPLNVemlpfPNWOIQ[afg[RYXTQYZ\^XNJONNSZZVUTQNJX]TONIPTKPLNW_^UMUYTPV^^`ZVPLJQNEHPOSRUXYTILNIJRSOMMPXYRHKOOPUYUJQXYYRNRVSPPSSQRHIUXWPNHGFJOILWbga[YYWTKOQVSX[T_p{vjYVSQPGJUXQQPOPSQJTYYUPPUVURTNJNSROOQNNWZYVWRMSW]^TKFJNPRYXQNKPOUVSOLQNIOSWX[ZWVNHJLSWZTUYQIKU^c`YRIIOVXPLLRT[WTUXYXYZUW[YRPTWNMKFGINPMMW[\UVTTVYVVUPLIKOWTPILTUOJPE==NUPMLMNAA9IXXOF5CIKRVI;MZbb]DOR5HOKOfnum]\,(JUKNURSU^jrpmTQQ]_WQaw|j_[_`YV[MKHHQLGIHQ]ec^UUMOUWTNQROKQSSUZXXYVSWVQOLGNKCIOUVUTUVPNPNQSPNJMU[WVX\XUUTV\`VPPPNSUPHKJIT[\VOQPMTWROOQQVVVPMSSWWVQMNORZXNJFLQQMMJCLKKNVXYUTUTPLNX\Z\ZZSMR[^WUUVRSXXOU`_[TNPW[WUQUY[[XUWSSSVRWSXTVZ^[RUTSUSTXUVTVOTXZTVWWXVTRRTMMSZ`_WSSTTWVSQUV\a]UTUYXVQVWTRWTMUJOTZ^YWVVRTSQUYXTQTUYUVW\\Y]WWVSXZWTUWVXWQOTVRQSTPTWTVYWUVUTTWSTWTUUWRUUVTX^cd]TSWTYXW[[[YV]]YUSPPQURLKPRSXVY]bf`XQQRQHHMMW`caVOFOURPQUWVWTSVXUMOXZ[\`[ZTLQW[WTPR[ZSUVWVWZZZWUOONOSWUUQWTRVZ]\ZZZXUNVZY\_a]\[TWTKLJJLQWUTVUUTPONFGTbgkkg_[Y^]YRMTYWQPUZ[WVZWLKOJV]^]\[ZSQOLJPOAO\YSMCIPPQY\YY^a_]b`\VQUSTY\XQQKIPMIHU`d_YXSOHUY_`[WRWcd[PQPONLJJPWZ]c]TQQSVXXZYVSTWZXSMU\\ZWZWYTUSUZ\[XVZ\YUWTUTNS\_\WUTSSTUQOXWOJHJJMNROLPWYXTWXMHDQTWUJHFEV^\TKSYYTSSRQRQZZRTTOMPSQNQTURSUURQTWWWWUUUVXUQNLLPWQPTWQ\nuo]OKJQTY^^ZVSVSTWU\]]\XOLRKLQTUQQEEINNMKLIGIHDEJRUVUUW]]VRSQJMOQRV[WQFJSRMNMMIJPJ@EGMORPPFDDKNMHFLMRPKLZ^aZOHINTVUJLOVVYXUVSNQRTV[XRUQMMNORNMKKMQVVXYPJVWJB@IOOJDLR^dnsk`\RES\W^^VRZWSZb]\[PBDHOR^`]\abYR]b\TNELMNQJLWZWPRWPMT_a\\b^XMQTRKJQTRUY__XRUVPJOPPOORTSMQQTSPMOL=@Q\^ZWYZXQTZWPNOVZ^]ZZXPILLOUbfebZYUXTQSUWWX\TRaovpfa\WQKELWUSSSOKJMQXYVUV]ZXVTWQOICKSXUTQWXWXVRQRY]\VQVVPOQSSNOOHKSTTNGLSOSPRUSLLIOQTWRPNRWVQRVXYZ\Y\YWYZUTQT]a^RPVSSROMNPIAMVWQMQKGOWTSRRWVUXWYYVQORWVWSVZ]TJRZ[NA6EGIX_YNRUQF>?GNSOOG=9HGTWNMWVVWJNTSJP79>JRPPTSWYULPTW]\WQHNWTLQXVMOPVWSMNUWWWXWZSX^`^URTOHQYXSZ`cd^[[YVRPPW[^YTSUSTMQOWTWSWTSUVSUSY^[ZZYTTSTYYRPVXZWTMJVNWZ^[\^[VPVWVOPRX[XQNRVTQJTVPUUWTUOKMTZZTTURZWTW[ZYTPVXWQVVYXWWQTOVXWTYVWTUOLNQSVSUUUTTVZWURRRUXUWXUW^^`[UTVT\`XTQWXXXTU\^[TU[^YTV[WXURRNHFNUUV]bcd\VYYTJNTVY\`^]VWSMSXQSVXPTXZ][XWQLJOV\]ZPMTSUVVV[]WSW\XSWZWSQNIGJY`]RJGLNQUWVVXTPNVXZZOTUVVVX\XTRKNV_a[UVTQUXNHFIOLT]ca`a[WTVOKQZ\TUVZZYW\]XWTTV[^WY]a\VLKLKHDJPQLHFIKNPX_ZWVWWRY_[XXURGPUSPVZUQSXZ[a^XWZ\PFT[^b_SMPX[TEJPSWUTUVY]\XVNRVY]Y_^ZTWYWYTJP]b]RQORSVONPTTORXWYXSNLVYSLPWVQQUWVXULMOQPOMGMOOKNQQWUXVW]WMLQUVVWTRHITXXY[\XSMMKKMWZZPV[WRNOWSPUVUQRYYZ[WUUXVLKLKNLMMHNQKGPOO`ltn]JGFQUU^cb_^^XVZWTUVXRHILHNTSLQTQGCBHKMQMIIQKIQWWTUPV[XSSVROJMNMLRMMHLTKINMJLNQJGMPPPMOQQQROHJSTNSZVJNZ^^XIFAKSUQRLPVWZXSOHIKRQSSROLFGMMKOWUMFEJOMU]ZR[_VI@ITPJJFDDNailjbWXV]VYWMFMUPPVY]cc^VQTYWXRM\[ZWWZ[UIKVZSNRNC>KWWRQTW^^ZY]^YVZ^[VSQRWSUVZZQTYVU[VVULOYWWRUUVRNKMKKKPYYX[[\UV_ZTVYZXRS[_]VRQLX]^a``\X[^^VSRWZ\[YWTZcd]X]]]RCJMQKONONNOKMTVTW]]dd][[WSOQSSVYXWXTSTVWXUWXTPWXVWUPPLOTTOMPOLKNQQOPGNUQLLTXYZUOJOMOWWUVSKQ^dc]ZQKLRSYa]SQTTTQRPMHDFOUVMFKFFKOHNZUTTW\YVWSQTVWXTRIOSNHQWZRKJGPWTRM1CEECBJFDHL=IISRPXODCCLUT@9FLUONGCHMQ[Z_ji]PPY[WPJCPZYVPQSYWRNTXTJJLS]_]XBDR_`b`XV^c_ZSY^\RQQPNMMMJMNPSUU[]YWUWTUYYX]`UQQUZXRNSX[YUMHORNEJW[\WVOPQKHNNQXY]_eijdWRUY[ZVQMJKPV\\UQUYWSTW]b^TQOPTOLQTWX\][TOUUUPNNVZXZY[\XTPSX[\XXQSWYUTVWTPDHNNIOWWPOYVPNMCILJGFEKQRLNPIRWROMTQOQUSPNMMMSZVPMLSU\aVPS]YVUZXPORTOMNNSOMQUPPXWTURSLHMQWXUQEIPPNTPONJPTPLNMNUWUGNV\]YOMNI?=+'N[a%J:HV[IL`nk^RQNTOQSIOitr]KUWcfaWNjmfedWXXSVSRUVSTTNGJFNX^dge_PJQYYNKQTRK=?HEAEMUSPWWVQQKKQSQQNLJJOWSMQSVUQQT[[VUVTOSSLKOQQSVSSSVPDGJJQUTMHINTQHGEMRLMTRMSWW[\ZXSLLQVUMNSUIMRUQRRMHKNWVQQKF>FJMRUUV[Z\]YRNTUMQOKMWZXSXUSPJM\`b_[\]ZVSQUTTWRXNPQRQXSRTVUPPUYZYURVUUTTVWUOSSUXWVTVWTX]XSTWPVVZ_\WY^]URUW_`WT\VZUVTWUTNTTVTWYWSPRUWSSWPXVVSWUV[ZUQLRVXWUTYYXUVYVXWVPYZ\\YXVUVUVVZ^WWWQVUYQSVVXX]_]WSTXZ^Y]_\UQNMYbcc]UVVHLPVRV\]]XZ]^ZNMONOONNPTVVSSSSVTUXTNNX\^]ZXPPX[WSVNISWUUV[UOO[`]XV\^]UOQKOMLUXTW\[[UXYTRUSUVQLMRTWYTWUUPLTZbgb^ZUQUZXST[ZRIHLMQSKEJMSVZXTU[]]ZTST^fbYQU][UZUTQLPXWWPHFJRPRV[ddbaaabc`XW^a`WUY[XQLKY]TPUXWPHKVUSW]XY\`^WNMTWVPNYWQNQMLQXZVUYWQT]``^VU]^[[]ZQMFOYZVVUQLKLOUWRPRXa^YUJIXVRMQOMUY\TQQUSNPZ\UMLQUPKGMMKHHDJIIKOTSXUPOSV[[UX[XVSKM\ddaYSOIKJLGJQMNQVVSWTURQQUXVOGCKSRPUYZWQOT[WOPURPOI;=AQS?C<6MBLVZVJSKUURPUOsPTXWO^tvaTV]\UQRX]YSOKNVSQQYVUSZ]WVVVULKTQMIQPJMMLPRKIKGNYZSPVWUQSQRRWYUMLKJMSSNPQQPUSTPGELPRP\_]XUU[[SRZ[WUONT^[SPSURQRORRLNNJTYTKOXURPMNUYVXWRUUNKRTUYXVPTPN]gaXOPQQW^XLMKNSUVUSVXXXWX^\\]ZWVMRX\\`\WUY\]XUQVUTY]WWVVVRRMOXY[ZZXWUUTSSSUVZYWTVRWLOPOLOSRUVWSUTZ[[\YVQRSTSahiaUTWXTUXYVPWWPTWXT_`^[VUWXWUWVVQOQTXZ[ZYYPQWXVUXSVXUWWWSTUUV]XRSWVTYTURVXTW][WUVOTXXXSXUXVU]YRSWZYSLPPU_a[POVVVVXU[\^XSQW[UTV]]][XXUOY\_^]\ZUX[\_ZY`bc[VVWLFQXUQVTQOOQU[WTNOWSSQU[`[VVSQQRXZZ[YUOQXXVLQ\]\WUX[ZZTNGY_][][[]]^`YUWUVWXXRV\_WWXTPVXVVV\a^VTW\^SOSZYRT[\XPSTVURSOTX[XRUTRRZYT_ed]XPST\_ZUSRSNZ^]WTSPHHPOKRTWYWY\ZUTXVVSOR\aaXNPMTUZZZUONLHDLQTTOLKNSVOS^a_][WWWVQQTSJIEPRQLOPJJPUWUTLWXUPMKMPRVW\__\RRXVTSOPTQBHIKKOMFPWSNOPTWRJ?CEGBAKORQOIOOQZb^Z\^`]YROT[YUSUNNPLIOUTRSRKU`_ZPLV``Z]c`YWZ\WPHHPY\WPKNQVSRQV[XNHOWXXVRTWZ\\YSNJGMRQQTSYYUSYVJLQRXVOPNIIQNIJQPOMNNRSNLOTTNUYSNV\^^YVYXUPVY]`_Z`gf\UMGPZ^_\WJRY]UOL[ZUPKPODIRUYZRS[be^WTJKTSVaWNLWONI4M]^b_VB>EH>EQWWTUSRUVPPM@@HKLQVWOKKNHECCKNFHS^cZSTPKLQWUNMMPPMPVYURPOIHKJNRXWPJNHHQSSSSUWXWTMPTUUWQKINUUTRRW[\\_a`XINSWUSPVXXRPNNRVYXTQQRRSV[_]_`YQQNLLVXWYZ[YXU\[WQNNV[VKNY[USUTSXYYVSUXZSLJMUQTZYZYVVWPJR_^[\VVXXQIPSSQY\ZQOSSV]_]^\PHKUSKIPLILRX\YVRSSQSZ[ZRPQPUSNPSTUWYXQONDFLMMRPNKMNQPRQTVSTQOV]]UNQPLLKKZ^UK\XUdfXSNITQN^]ZaaW=5GPKSV\[D3CHW[S09TIQPUJLOLRKNTVRShz{lSWdedSORWURSUONRKIKSSUUWY_hrupbHLVTT[YVSTVTTOMRNFSXYZ[ZXRRQRTRUQPUTNNUXVOPSWXYWPJKEKPVTXZXUXUURPPRWZ\_ca^RORQMPSSOPRVUQPRPNMTVUWNFLRVWRJJROOWZZZWPQY]SP[_YOFJO^d^ZYRKNTWWRPIHMW]Z\XWVRPRVY[]aVZ```]TVTMOXZVWV\]YTROQWVTXUWXXVUSPNUWTUTRRRSTOOVXYWVXXWRNW\WT[[VSSPSSY]XWXXZYTSXXQWKOVWRQVZ[YWTVXXUXYZZXXNQVVVVVRXLKWUYY[ZXTVUUWVW[ZVWYUZYTYXWXXUY[_d^YYRRSVYVUWZXYX[WUUTQVX[WOU_YTZ]ZW[Z[Z^`[RMJRUUY[ZVTVWRLMUU\XSUTYYQMKX[VRPRTVOKSYVPNOLOTUWTTSTXXUMNMRUVSRMNJMTZa]ZQKORSPCCTUWTVY[_`YOKOVUSUOPTW\ZQVYYUQJQWZ]\YZTTY[\TWX[^[VMQ\\SOW[UOS[XUXITZXTRY^^\VIELMOTQJX``^WQOX^fhg[QRSV\TFSSNGEPTVWZ[[YZZZUZ[\^XRQT\]ZURQNPVYYWURLECCNVVQSPVSVVSUZ[\WRW]VQKORQOVUYWSQRT[][XXVSUXW]]WLLPX]^YYYVSTNNPLNRPLHOOPW[VPRUSUVLXXQMNVUNNMINSTQVVVSKNT^afeaYYVUUVZYVRKGMUXWTUP[_\WYWZ][UOLLS]``UPLINRQRRSTYXWOMTXQCBNUWXYROSXXURNQNLNSQGLKPQORPSVUQXRRINSRMQRXXQHM[^XRQTTKAKRNOPQQSVVSTUSTWTQPJFCMUQNUUUSRU^_TMXbb[NIRXSW^b`^ZSKTZ][ZXUNTXWVUTSTSTOQKGLIQSSOTZ`aZXYYTQHFPOMXZYO@GN7HY^^RHOORVVUSODITTOOPTSLKTY[[ULEAKQTOMMRQQQQLJMRWXRJMRTXTSQPTX]]SRPVVVXUQTV[WTUNKPORSRVSPNSWRON?BINSUSW]_YTRRRUPMTPNLEGMTWW[[QJNTTNHJQOFKQZ\YSUXUNQW[YVWVSUVRQWOKPOTQRU]YSLHQXWTPSZ[[TPRVX\YIOQSRNQUSKEOZSXQJCC@LTbd^[_[ZXOCLOZ_W(FM9)FP?@NUEAJQfXWQTVXNLUUYUWYZTRSTQQMMRSLIHLOW[^\ZPEHNSMOUTRUTMMUWQLMSRPIOSWTW`dbYQMMPNPKDNQTUWUUQCDKPKMRWX\]XQTSMPRONKNNIPXVOUa^TKSXTMTYYWSTXYSTVXOIQUWTWTRSSRHOW\YSSYTQ\ZTXSRWZ^`YY`ZTRMOXYZXTNDCMQQOTPOX\]\[LKQRWUYVVVUWSY\YY[ZWVQQPRTXUTUVWUQNTUUWYZU__WSTUSUPOMKTRMIMKQTX[VSSXVTWWWXUTWWX]\VTRUVQQU[VTVVQT[]YVSSZa_XVVUYVRYTTUZYYYZYWX]`XTXYUSSXV[XUUZTVXSYYYWXYVMOQSWNXOTNXTXZYUPPNQOV^`]YOPUQU][TRUZTNV[^][WWXY^b\WWOU\][SPX\XWUSPQUYZ[[ZSQWZYWPRRG@FJLNEKKKMRUTURPVZYWUUTUYXXTVSUPQY[WNFFEFMUWWTSSTWYZ[WXYNDNQNORVSQV\\VFZXUOVWSRPPY^YUVVUVRSPNTTSQOSWZUMNTX^YXZXRMQTPMKQX`aXQRZ^ZRTVW]ZQINOSPW[]]^YZZTWZSVUTNSXVMPWPIJLLPRQSMSSUZ\[WUYZZ[^ZTLLKNMIDCGSSPQUW[ZVSVX^ed[YTUVXTWWUTXV]^]UPPVVWZ]\Y[VTPSVTOVSRTXZYVOJKNPLKJPURMLLXYTRSSONSTUUWWWYXSMHKMQJHQVRX]\XUWZWPV[ZVQEKSPKHRSXZ`a[VSIGNRXTELTVKNQQTUPQPQVZTQV^UKMLNKLPW[XSMMQRSWUUONPSYWOOTURRX]UNRSQTRQVUPINNSXXUWWUUWVYZVUOKPMSVXZXZ[ZVQOKKOPPT\fjinliegXJNUWSGKISSTZ`a[UWZVQRSOOQNMQNSWX[\]YXRY]]^[ZVVUTLHMX^]ZV[dmcVULF@W_NMNOSYTZYXRMS]\YSVUVYVPMPILGGLQTUQTUPIJPOI??AAGNSTPNQTQOMILQXYZ[Z][OLGBNVWRNVTDEMUWWYYWTXWTTY\X[\ZZRQV[_YY\]ZXSRWSQPOPORRVWRSSSNPPJMW\XPJW_^]UQQKIHJTPHEQTUWURTXRPLEJTWRRTVUWYYYMLNIGMVPJPTWYSSSRMJWYWUUTVYYSTSKELMONLUXYYYYVOPTSRLPSIJQSTQSWULFKLIG>GPSSTUUUKNURJMSVUVZVPRQRWZTBIIOSRX^`]YTTXQLMJOX\YRPU][XSY]]XRPTPJERZVIICLSUMP^`U^dgeg`][WY_\^ciXG6PYGTT+6D:WQJZccaJUKXZXY[ZUVWUQQSNPYXRLQWYYXYRMD<;CKYa\POLMKOVWQOONSWTURJLUUUZ[\QPPQTOIJMOONXYSGC?@JNNPSXUTSRUMLIIIMMJQQMIGZbXUWWOQSXZZWRVWYZYVRSY[SUWUNNQMIFT^`_][WV^]WUPW\]`ZPSVVWVRNTUSTUPHLTVQSPHL[bbbYNLLLVVXYYXYVWX\^[WSSWRKNWWWVWVVXXRPT][VWWSY^ZTRTWYUWOWKLKLOSQU\bfa]YSRTVTVRXWUVYUQNSTWROVTSVWTXXVXRXXXPV\]WXURRTTTT\bb^[VUUWX]_WUUTUUQSWTXXVXTUOW\YUXXPUWLW\[WVXOKSXVTVYNNQ[`c`YWYW[[X\__\SQPUSU_e`UQV`c^[SPPONPSOSZZ[UTMOORQTSQXYXXXRMRWUNTVVOJCED@>>KQVUPX\ZVWOJLSYZXYXRPSUXVQINMEENUXV\XSRVRUSZXSNN]ZRNKKKSX\WRW]XSQRTUTKPZSOOPZZYWKN[[[]]XZUWTPRYZTU^a\USTRQNOXbfaTNLZ\VNNOQQLMKUWWTUX[^aaYOOPQUXYRNSVPNTXXQHBJROSWZYRPLMOWVW\`_^VUSKPUXSNLMGKQYYXSTWTV_jhb_`]Z[WWWYYY[`]WSTWXYVVXXWVWLQSVRNRTMQQTQPNICLRUTSX]\YVRUXSSOQVZYTSLNMNOSWURKFIONJPSOTY][UTUQRX\YWVWTRJEJPPMT\_a[XOLNG>DGLSUSMPLPNGGOINQMKPQONOKQYWW[YXQRWXQPVUVNJKSXUOLQUUSSSOMVROTUQQPPUUSRU\WVXPQX[[ZWXYYYYRWXXOQSSX]`VJLOSY[ddbgjgmmdUUTULIMVXZY^cd`XW[XUSNMKKAAKMUZSR^`cYPTY][\\XQSWOFJUY^[QQZY][^]^\ceSUXWSEAIA?FGADFIG=HPQKEJMMLKNHFNSYYUQOUSNOIGJKMSRW^`c`]XPVZSKJPJDFGEKRTOMUTONSTVVZTMIJU^]ZW[X^ZXYXTPPOJEGHIOOOPT[WVPO[`a[TV`a\Y[\XSKHLKDHLLRXYVRW[\XTU\WLGRZ\ZVXWUPLGJY\VPQTWUTQUVTPQWUUTVZ]ZUNMHKRUQHNWYXYZXRIJMPNKUWRNLKKKLOOMLSXYWKIQXY[TPJJRSQLP\`\VXPJPRXXUOLMOJB?GQYXXSRTUUYXOHISMKRZ\XRYa]WNOMMH3JRROQNPRXXTNGQZdeepjaLESSBFVYWO;MD8SF@TTQMWTRVQUNURW]\LMKNPTPLJPOCKQRQOPPTX]]ZQIFJT]c]RMLKJKRRNPPNSZZYVSPKHLT[[SOPWZWKGMTSSUUQLNIKPUSRQSPKLVZZVNDJRSMMPPHO[a[Y\LGLTUYXQIISVZZROLUWSPSOMRTQQUTTX__YTOLUTRPUY\^[PTRQWXRRQRQUY\UQVURROPPVXZTMKNKSNTVXRW^^TVU^[XSVVVSPQUQWTVTWPWQXZZTSUVVWSUUWZ_a^WSRNKOQSQPVZ\SYXUUXXWSVOKMXSUUTWTUSSSWTWVVXSXSNKOSUWXZXXXVWYXSQYXZVUUTYVPXYWUSXWTY]WRNUTPWTOVXYUWOLSTTUUUXUSQRXYTSXXMQYZfc]X]_b\[VRSZWSTRQOQWWSKMW`b_\[Z^\VRZYUWYXQPRSYXTPDFOTUWSOMQTTUSTVVMRPFCHJHMOOS[ZVXURLNMKMPWXUUQSSWTUVSLJMYXUV[SUVUZ^ebYQRXZYUKE>MXWQS[\VONIKUTSRQKQOV\a\\WV][[_^\XVUXVUXTORW]ZTXVWSNJXdge]TPSWQSQQRNUSSRXWUQUYY[_XUTTTYY\WSSPMQX^_XKIPS^\YUWUOJ:EQ[]bd_XRQWUQQWWVWSPQQQUQNNXVX`daX[dhb[YXWRTURTRTWX[YXUPSXRNLKRWVTTOGNRVWRNKEHQTVQNRUQNMPSOJZTNPWWTTRORPQRPLPNNMTROONPTTTTSQTY\]YUQQTWSUWWPLPUUUWOLMQQRQRRWTWSMDIMLHIRPKJLMRPTXSTURRXXZZTRXXRMTXYVPSW[ZSLIOUVRQTX\ULJBJLIJLPQSV\\USROQPQTUUWX[TOQWTILPSSY]YQKNNWdhaTPX\cibXRQIKNRQROORUVWYULUWVNPTVQOSOQ\^]]`ebTJOXVOSSVZ^^ZSNOVRNYYUU\^^]^cfcISPKKZYECQXTKSVQTQFGOOONOLLOMGFORLIJPRSQTYYUVVTQGAEHKIMMIKLIEGLS]_fgd[UVXVVUQLNQRXVUQVVTORQTTXYYTOMTVURTWWY]\ZYXRIILNQEBFJONRV[VROSUWVNMW\WY`\STXUQRPIIKPUXSMQY^\Z[[_VPIPYYWTPNTUKDKRPQVWPLRX\[\\QMNKLNRQPSTPQIRTQRV[[WVYWNJJFKNRVYYXUPQPNNONMQ[YVPVXUUPQJJQXWSTU\b^ZTOIKQVVLLPSQKFELMSSLLNQPOV]YTSTM>HT[\XXWUSLEFQPGLVYVHSNLOTP?0OWVNRYibUZ]SBHKSDDZQ!RHJMeo^bLJUMYYSX\]a_CCISYTPKIJDDKOMNKKHHRaii`XVXTY^[[UTNGCPWMOQQV\\WNNJIHOYYRKRWVXRKHJQUXTOJPPPNQUUUTSSSWVX\WOPSQNNWTQQS\VRY\NSVVUTUOMLOQSQROEBKQTXUSVWWUYVQQVXWXRQQVPPT\diaVZZRUPLGJMPSZ\ZUZ\SRIKRPOJKLKEDPRHXXUWXWTV[]VWWTUVXSUWTVQXUTRVTUWSOQSVVTWRUWXVTUZYWRQSWYTUTNMU\XRWWVYVUMQTTUVVTRKKSTUSTQUUSVVXWSQSXVSSUUWZ\[WTRNQPY\ZTVXTYUVUTTX]d_VWTVVVWUYVRUQMVXVTTVWVWPNVZ_ZVTVYXMVYc_[SY]`]YQLUWVUYSMNTSSOICNX\YTXY^^\]][X]]VQSPNOSY]UOVVTNRWYVUWYUOY\Y]VFJRVSSQPSWVRZ]WVONPOW\Y[Y]WYVU\YXYRNWYUSXZYWSVXYYQNWYUQTVSMENRPQZVORTMILS[YPV\\Z]YYXXWUXRKIPWY]_[VYUFRZWW]]ZXQMQYYWVSPOPPPRTMLSXIMRPQVVQPVZWSY\`a`ZPJSUSQV\]]VXZ]a`XROPRKHNU]`_^XRUY]ZROQVXYWUUNJSVPJLTNMWTPZ`d_ZYZTGJMOQUTKSXUUSNKSTNLLSYPMKJIOTXVSKIKUWUTSIILOLKIRRKLYSUUNJLVZXSLPUVWSNLMOMLPRTUTTQPT[b^YX[ZZYYZ_[TMOUSQNHBMTVX[[WUX\\WORURNHNQKIOSVZZ\[]`ZOE@LZ[Y`ZQKUW[YUQTUWYVQJVWVQTZVLJNOQSLH@EFJQ[ZUXZUJDINSTSV[YVWUPLQUVWXWRONKM[bc]SJSY]^^ZVROUZZUJGKTTRZ[[X]VQTXZXSUTQSZVTX[]_[SLOURTXPIPZ[\M@BHLOXQWTWVNIXae\[M>YBSnW9XT[`d`ZQ]ccMPWYSHIMH=DMRUQKJOHJUcfd^[ZVWWZTNMOMCKSROPRWY[VQPFGPUYWOAJQNNRPLKQRXXTUVNKJNTUMBHKMONPWUQTVSLHRQQ[ZWTT\YSTVVJHLQPJOUTRUUPQSSVVTX[]]XRMIQVVVTTQUQSQSZejdYVVURRPMLSXWWUSNWVRLJIT\YONSVPKOQRLUVWSRWZVW]\]^YWWXUV[`[UVVXUXWTWXUVVVUW^[VRVNLTYUURTTU]^TQSVU\^YXTTX[XVVSNV[]YWZTUWTSTVSXSTRUUXQLTPOY`a_`a[VUTXSVZ__WPQRPLWWXUW]_]ZYWZXTVUTSUSXXY[YXWUVXSMX]`[X\^XTOYTUVPKPSTRQOJSZWVPKKOMGORMHN]d`VUTQRVWTQSZ]WNPOQQKRY[[^^YV\`_WPPVVSW[`_WNMSPONPQHOW[[ZZQHMSPTTPRZ][UTUWUUX[[VUJKUWOPQQRQTSWZWVLIRVTQRPOQQQQSU[XZY^ZQY_aZSPNTQQOQUUUSPOS\_]_ZVNT]XS\[ZRTMTXQGIT[]XQQQOMOTTQRTROPOLJORUUX\]]\[XQVWUQPOPTY[[_bb]]TJMPRW^[WOW\SN[`]WQWTUWVVXZUOSQORTPFMURT`ba\]]ZSKHHP[]ZZ[[UUVMPWYUPWVUWYURNSZYNOSVW[V\WPKJNRWZXTKMQXUYVQLLRSQMQ\a\SNMKHMQPRRTRPNSU_a\[`dgda]XZRKLUVVSUTSSQRRVTPQSV\\QHENLFNPJEINSRPIMW_`]XOGN[Z]XNNSVVUSQTOFDORQPTXVSROFHPUTZUQOJORTRLNRRRH@AGLVSVWTX^]VTVVRTZYUH?DOW[UPKBU_^[ZWWTRWb^YUOQTPSSXZ[[YQMPURJJQZ__POVTSZWTQRPS\[TEOVXZXL:FOMLTPRM<%0Wa\NH:NSSSDTa`WKOPR^`_Z[UMCBLRXZUPOEIMW[[VORVSPPLJRWUUUWYXXWUMCGNLOQHHUWUUX^]UX\ZVXQIIR\`b]TUX[Z]^\ROW]adff_XWUY[XRPOVXX[VOLT\WPEIQQRKBGMOS[XXX[ZVU\XMRYXXQLKNONPTVTWW]WQROHLNSVULOWXSQKHKOUWSRY^`ZVNRNORRPMGIMRWSTVXPMQVWJILKRRPNNT`c^USODHLKLPQQOSXYXYRJC45<;M`aZVOB@MFS>/4_jH)MSC567cQWb]VNX_[XRUSPJJOOEGOUXPEDBIQTV]`b[SQRMJGIKSTMIJJMORUXVSTQKMQWZ]ZTWZWRMMIIGJSVUVWOJQY^^XMB>>EQ[[VQKTYTOLMV[YUY\WQSSSPJCGUZWUYWVXYQSW]ZOIMORTRKJPVUUQOOSUTQQPW`dc\PKKHOOHENXZUWQNUVRSVZ\]YUVYWQORQRTVYXUTTXWUZ[^\[XVUTVY_[XXTXVYYVNPX\[TQRSXRQNPTSWWLLMQQX\VNUSMTUTVTSUQUUZYVT]_^\^[VXTUSU\[[ZTTVVTWVRPUW_\^b^X\``_[WZ\ZVYWXMORUY\ZZZZWYXWTVVUXYZUYVYUYVUXVMYOY\YVWYQPRNUXZQTXWWTWXXUWQMQVWVVW\YTNQV]ZXXUNNTURUWZZXQNHMUUUWTY^]^[]dc_VQORROU_^\UWVTUVWXSUZ\\WTTLUWWXWXUQSRUY[ZVU\^SJMQQVWPTXZY[V[ba`XWW[ZTUUSSSOR[ZXY\[]\Y]_^]XSU][\ULOVZXWUPR\ffb^TL]]ULU[[XTRTXUNLPZ^YOOXVRILQTWVUWVSRSQOPTQMRV\_]ZZUTVYTLUZRNQY_`[YRRRPRSZRJU\ZOQXYPRZ\YUTW[ZYSFDPOVTTPQMORTTSY][YZSIJXa__a``_XQPTTRROTZ^[[WURXYTHRW[UUVQGDDHIV^b`VPRNTVWPDDQVUQPVZUMKOPNKSRPPTPNT[]Z]]VY`a^___[VMQROQTWURUSLRTSUX[a`^UJ>EFO[\[RQTPNJKNRY^__\RATUTSORSXWPQOORNLKRVPKQVSVVX[_^a_^WWUV[[OJQOOMIFLPSLMOQKJY^XVTHJSUYZVLMOTROOF@SZ]\TNSUPZ_][\WQPKLSUVVZ\XJPUWTTV^eaULTNKY_^[XRPTVQLRVXZYREPYYMANXYU7=LZNS]b)CMH8:E7A@;QXY\]ZTB0NTKBD<)05IDNWKmPXVNQNKJMWSIGINTRUTUVQKKKFHLJJNPV[VOOMFKQTYZVVVTRPSUVPNDJMRVSUSXYXYXPHMRUPONTQSOLKLUWYZZPABIQTTPKR[\WRRMQ\[WXZVQNNQQMKITZVUPQRUTPLOSQNNSWVTNNQTZTQVQRUYXWYQLUTUZVJBENSMIQZ_b^WY^XPXXXZ]\XX[TLMPSVYW[_ZXUYTUVUUTURRMXJWY[VXYUXXUONVSVTSVRSUTSTWXWPTSOPVXWTSORRNOSRVW_^YUXU[^[YZXY\XWUTU[___ZZ\WWXVXVWQQURYYa]VX[_a^XWZ[]Y[VXNUX\\ZY\X\\\[Y[TUSYWU\^XRVXZUUTRWYWVRTVWTUVW[XSOW\ZVRWYURSRLV\\Y[_^ZVXXWYWX[[\WSSTYYZXZZSQRZaef_W[]YTX\]ZYUQQVTSWWJFTVW]__VNNPWXUWXZ[YSSVXXUTWY]^XQZbbXLY\[]^RKUW[VWV^`aZNQXVQMOPTWQOUYWTVUUU\]XRW]]bc`a^TMQTW[_a[TV]_\XWYQPPTX][SRV[[[WYYXUOQTTRMKT\^YYWWY\XYTQOHIS[[``[UYYYTT\[XQOOSWYZTUYTVWXWNN\_^XSRLR]_\^\U]a]XQTVXOTQKPRSQLLLUZXWZSMNZ\WUVZ\_XSVWQPRLJPTOUTOHQTVTKNVVT\NAAGJUUZ\\RKJKQY\UPRTRMLKNMJIIHQTSYUOKJLNTZURQPMOZXQRZ]^[URRQRTUSNLQTRTWZ[cfe]TMIFGUbh`ZVUMJKPVYXWSUZTJPSJLSQUWRJIMPRTQORRMADJPUXX\YWTVUSQQQROJLQNSXXSQTVPMRRHIPURSPJQWZY[YQHOPPLOMMOPTSSRSROU\Y[XRNPNMORPPVYUTSVURKOX_`SLPPO\dfd\USUMHHQZ[VOMGEUSOMLPUWZO]`WMW]^"EHLNURK]hi[CDJGLZg`SW^\TOGBEIIMSSQU[ZUKNSOOMEHQRMNPLGJLOJIIHISSKEJNRV_c^VWZZYZY]\^ZTOORQU][YY^hkf`_`[TNURIIJOTQNPQDDHJQXXTOOUY^__XRT]]\_\WVXTRPSRSUSMMOOTRKQWXSJJT\]ZWUXZWSLIR[WRNVUKJOTVNOQX\ULIMPNPLMUVZ_]UPRQFA?PZXUU[\ZRUSOJGPRU[ZKHOPTW[UNHJTWTV[YTTQOMQRMKPXWZXKJVa`YNOWZSGLQSXVLELOKJNWUU]XOEKOPSNNNSSWXVUQ?IQSOJEMSMHLVTURJNXXVQG;6=SYXPG:IL /)KPRSYbedYNNOLKQVQOKQUXSNJJK@HVVSWUVUU[VNUVLEKKC>DINPRQTTNORSOIMPOUSRV[[]ZWVZ]``bcYQMNV]_]XRWbed^\[XTVXNNTSQSUJBIIEDLQSTVTRSV\YVWWSTVSV]X[XRQSTQX[SJPTWVWOPUTROU\]YTSUUX\\^XX[XRNRRPRMJIINPVYZVQPLKNPLKLPZ]WRSLE<;PVSQRPXSIDLLOVUQHV_\XWRNRRPHOUUWVPWXPGJOX_aZSSQOPLTX[`cb]QSWQHJLPUSQOOQOINVWUVNNUTRQTRIJURRZ[]ZNRWURHLSRQTX[]ZSKCFWWSJNPRYe`UQYY]fQ6@LlmU@AOcXMXUZSQkaQPNKQPGCILLIKEAGNPRPHGLW^ZPKHKRRSWTNLPOOJIJRPNNKQOIHNQTUUUSY^XRTTW[][YYVTTUUYYWRLKDJOOMICDLUSQPLOYYZVNJDLPOFKQMLLJPTZWWWYXXQNNRRRT\_][SPPPQONNNLMQYgidYVSMLQ[YNPSTUXVTVSRRTPPRVWXWWVY[\ZNKJRTVPSNSTUQSRW[XWVSSUWW]WWRQSPKOWRVXYW^^\YURPSUJPSWUUUZZ[[TMKNVWUXUSKNOWXYUUUYUUWVZZWST[^YNKNX[XVOWUXUUVWXW\_]YYWTVYUWZ]XWVXTUUWXXafe[VW\ZXTUWTWWVUUSUPVUUUWVVSWSWWWWWWY[UKKVZVY\XV^\[ZZSIKQPTSVUY^`]SLVXRJRTSNTSU_ddehb]TY]]XLDGLRRVROUYXSSRX^[SSJRWPIID@KWXSPPYXPIO\^XR\]WVYYXUWY^WQQTRPTSPU_^XTST[][TT]_VPW[VLPPOMMKMLNOQMSRVWUWY[Z]Z[TV\]WRS^dTTLKKKPX[XSMRROKKRXSNIJBDQYYWRQMPPUZXRPQXUUTXYSNLLX][ZUOQ[`dZPKKTRZkxuod]UTNMOORUXXVRMUXSNIW]UJHQWXXVSXXTJLJHKTXVJFEJKRWZXTMPTJGJTWSONLSYTSTVQPQPUTNMQWZ`bZLDHLRSQEDOPOWWPIIKLR_]XSMKT\\QFSYTXWWSUOKQXRKMQURRSRMTY\V[]UV^ca\WTMNRQNNVT63CJRTSKGR\^SKECLRYZWTLUWYSJCIVVNOPUUSOKJKQNKNLEMSWTS\\TPTPHBJPQQONGGKMTSMFJOSSPMNXXXUSVRY_a_ab]VMOPUTPPWace_]XVTWYUY\XPSUPIVWKCNUVQVTSPRNRPV\]\YY_[[YSLOMFMZ\SNUXVWSLKMNQURUUOIKOSTTYZZ[^\[ZVWXUMMSZXRRVUUWVSPQMENPSUUSKQTUTLIOOPQUTTONMORQRPPUVVVQLKOXVMTVNJNU\YRLHIHOSWRWSVVX]`_PSUY\YZRRSQQSVSPLQJHJPPXVMQ[^ROUXTSXTMBRYZVNNVXSTWO=LW^`_ZTLFIUSKTXX[^`[O^id][*!2;Z_eWJ^]SORXXYPWVWWSLNRQJFCHNKNKHIIJEBNX\YWWREJTUW[XPUTVXWSMPQQOSWVSOTSSRMKUWTQOPOKNRPRXVTVRPW^]YZ\[OGFJHGKOMRPONPVYZVRU[\\UNTYRELQRW[\TQNRONNPVWPOV\XV[USRSWXSHKTTZbd^ZYOPOW[\[XTSTUNNSQQXZZXRUWVRPU[YYUQQLMUTQQPSUTSWQW]^XTTXYYUVSSTRTTSVORQUTW\`]WRRQYVROUTVWX^\YXVUNVXOVWTQSTWXXYYUSWXLRSXTVXSY[\UWXXaaWXWUZXWYUY\]\Z[[[`a^XVY]]ZZYXVWVWX_b]ZUYZWXUWPVXXVRURKLTVWZ_XVNONRUUUXXXYZSSZ^[WZXVWUNW\UJGOSOPV^`a`_^Y[\VVY]YXUXWXZYehf\XZ^\YSLKJKRYZWY]VRVY[]ZTRTXYSNPMOQTUPSPPQNNTWYTTUWV]ba[QLKPQQPTVVOPVVY[XSOR\acYQUSNMQRXVVV\[URXZ^ZWVVMEQZ`YPQVSLQSPUYXYXQPQSOSUQQQY\YSSRQRV\VRLOPMPY\XXUOPW\XQQTVRNNMPTSONQURRPMQQOKQTYXUSWXURZ_[QLRUURTRPQUWUSU\^Z[ZSOIMPRQ[dc\TUXWWSTVZXU[ZW[_]ZVWVMOX[UOHJLMINTZVNMRTVY^^XW[\[VJKV]YQQSY`ZYMJPTZabZMQXXSLIIEEEEDCDNRNIIHHRRTXXTRMC>APZ\dc^V\ba_WOGRZYTORSYVOanvurhd\_`\UMKNKSLKS[WNIRWVTRT]^]WVXUQJNLJKPPJFLMKEGGJSURUSQLMWYSMSVVUVVVTSSUYZUNLJINU[XOIILLOJ@ITTQUTMKOSPSUVRU[ZUTSQMOVVTTVXOORQQQLHLNCJWSJW^^beb[X\^\PTVNOSZXWWSHCRQXYbY@CBO\YUKHIVXLXSUZ[YPGIRROGKPTWTNQRQKNOF@JPOMV[VUXZYQJNKIMLIGHKIQQQQLMKMLPTZULOUVOMXYVMS\^WKHHNRSRW]bijg_`\TW]YQNOQICNNFCMSUYVWURMNXXV[\XV^c_XYSQSSNOTTPPPVXWTMJKMSYVLINQLMNTYURPTWZ[`cd[TRNRWQMOJGMW\WTNLJOPSTWURQUVZZXWVSSTUSXZXXUQQTOQTOQRSOVXTKUXSMV\`YOSVTPJLQQSVUXUU\\RRU_ccb^SMSTMPSOMONEIOTY^YYXTJEAIKNVQKGENWXONQOIGXQFHUZYYYWKUQOIC@HDQRLNFIejaVWEBAGirs\NU_MUYUTNXY]NMMQZ_`XQEKJLKEFINGIU^`VUXWQNOKMUVWYUTTRLJMKSWVXXTSVTTQLJQUOPRXVUOND=MRSQSUUV[`cd`VA8ALILKOTSVSNOPSUQSY[UNOUZTRLOWXY[QITREHORWUONVVV]ddVOKLROJQXWWZVVZXPSYZYUUSTV^]VJMJNZ[YUTUYWUPUZXTTVUQMRSSRSXVVWWTXUWQRTW[[UR[\VY[YVUMMTWOW\`\XXXRRRRVUTWWZZTVUQQTUSPTVUUTUWWUYUWZWLTWLPW[^__YUVSWZ_ZWVSSXXYWY[[XVUVY\_ZYYZ`[YYVVUUXZ`a[XWXYYSSWUVTWURSUWWVSOMVU[VMNX\^[WXWX[W`_YY]^XXWKGJDP\\OKT[YPVW]aa__\YWWKV[[WXPOROUisncXX]ZXSSHCCJTWTSWVXVUUW[YUTXWORVTTXYXPKKNVSXXTONRWSRX__\VUWSUNIGQ[]WOHQW]XTXZ]`[OOOMKOSVUOUVUUU]ZURTY\XKMW]_[_a[NQTTTOROPTUSKKRQMOTVUTU[Y[``]XOJGHJS\]ZTKGQTSPPU_^YSRQRQOPVTUVXVTQOMOTNRPQZ\ZUR]]XOOVTTWUKHS_`\[ZZ[XURLFIIOPT[YXROPPJQVYXWTUURRSTKNVTRTYYSMGLNFFKTWRBCGOQPVYOLU[]ZUOUSMOPPV[ZQVRKQTVXVUWVUUWRMMNNNPOOMRMRRLKORV[VXYUG?FNLR\d\U[``_^YSMPQRSMPQVW\hhmgfbba]VSPJFLTVNSVWROMQROIUTVONLMUVUSTPLJJKPTVTKDDOTTSQQSUWXXPQXZVQR[XTSOWXWXZ[ZVQPPMKLORPQNIKWXTSOHJMVWPPKL[bZTRPJLLHPTRXXLKLGDKNIQTJDUXSRXUUZZWVXWTJKUSHLRPUVQGQUQS_edUK:@KNCSUPTTWLHGJLTXPMLMOUVROSTTVUNJOTNSV]XSVVPU^ZVZ`^UKRRPKTYUPSRRQQRJIOQTTOOQPIHKSVQLVZULJLMTVLHR_aggkhe\UXTPTYXTMQNJNINWYWPIJWWTVPPUTSRXY\b[TVXRMTWWVLORQSUTZWWXWRHQSPMPWYUMORNNUXab^YXRMONNOKDIV]ZUNPTPNQ[YXUWSSWVMTTSMPUZ^ZUVTPUYURPLNOSWXVMMRQGJKPWPFISZ\VHLOPPQMNRUTUYX\`a^ZVY\[UOSQLQOKJLR\\ZVRMOPPQNHOYZTPKOXZTQHDFR]WKOHCLVI?VYRQONDENC6/;V^\c]NICQPNhiZE@TTMNKYNKO^QLGEX_`[PMKJHBHMOXVRU]aSQVUQUTRMHKQVTRROKHHJNRQQSQLRSUVUQSUPUYYXYZVOEJRSUZ[XQRWXYXSLDGJIDEKVZZYOPJMSUNRURNNPNQPRT\XY]YWTUQWY]\SFJMNNVef^KEJQPLHQV\_WVYYUQSVSTSPHNX[SSSPP[[VJV[ZZ[WSVWYZ\ULNRJRLPWSRSTVYZWRUUTUVWTQSSUXXUUQSSQTWSTZZYZ\YTTVTRSVYYTRRVUU\[UWWXTSUWU[]\YZTTMXLQVZYW`_WTUVSV[\UUXWXYXQMRWYVTTVUUUWV`db[Z[WTUZXXWUWVY__[VX\^WWRTWWWUVYVQPVWPMWZb`[VXVY]UhcXTQUTWULOQSZ\VV[ZSQOPM]d_ZXWXTPQUVVTRNUY]ekib[Z]WPVWPOLPPPOUWTSROPVXUFCJPPT\WUWWPJIOMUYXXOEHUYUSVWVYZ_WLEHKON[[YQGMW[[XXZVTSPNQWWRRPPSUQMMRZWOORWURRNKQZ]dd]WVXXXZXVS]^YRNIJQSQV]ZPSZ\]df`ZSGNTQRX^^WRUVY\\WV\]WQMMQPLRWWTURRTPPRVSMIONRTTPQ]cbVJMVUPMLHW]\YUV\[XMOSQTRXXTKIKOMLLGNSPTXTRQPNLNNTYba_\[UPJPSQLOSWPOMKIRUVTQOLOQVVXRODKVU[`[NBTWUTOPY__ZWZYVR[_WPNPUVTOVXTIOV[[[\ZXOJMOOMVTLV[^]XY[SLU[_`YPLV\ad`][_ac]TTUQJHPUSUUWTVSLNXVJLRUTQPOR\YURMPQNQQNLTMPTWTSWUQSV\[ODHTWQMQTVUQRWVU[`d`\XNPSVVWVOLOOQVZZXURRTZ[ZOMQ]^SMQQORRS\[WRRSVRRUUWXVQMP[\RUVLJNPZ\QQOMV[ZWWUMORSR[^_QPX[VODVL?6AKWKFECS\SCY]UQPKR\aUQTWUTPNEFPPKSMPRTNDRZZU\^ZTPIPSSORQSSQOQRUUMLIHLNKC@DMOKSVOFBGMLINWWQNKPQSbfhb^XVYXYVWUVXPLMLQUTPLINYWSROQWXTQPRZ`^WUVNOSQUXVROQWZ]`_ZX\WROPMORVWSKMPHGOMPX\ZXSOSQRONKKUZYYVY[XVY]]TQONJPQJJPLELRWZTQPMRY[\XSTRLNWYUUTOGBJPUUQLGLW[VOKIGGNPTTRRZ]WRY\\VW\`[SPQMHIJLMKQWYWSOMTTMNQOWbbZTRNHKRTSGIUZWNKP=KG=7DODHKXZTDDDGUU]X>FKBA5H<A/FPUVRRUMSUTJJMQQPTVQNKMX[WYZVXYUSSTPSUQPPGDFMOPPRNCLUYTIOTQQPRPX_[ZZUZZ[VTXUOIFGMWZTUZZYZZXTMHJKLHFGPX^]WPJCRQLPUVTPHJRRQY\][WXVUSX\VTXQLGBDFO^e^QILTVMNRR^a^]VQLKSWWR[YQPWWSOMLSVXRSTZ]`\SNR[X]^XPSUJNLRROWMSSUXUSRTOJOPOVVTUYYTMPWX[VUVQONTSTY\XUTVTVZYWWUVUUZ\VXZYUUTPMPUVZXUOSXSSUXWSUWVRVUU[Z[[Y\XTWXQMUVVVVVTMLYWXWY]\`ba\XVWYUUTX`a]YWVZWUUVSVWRMUUTWYVTURXX\YXWUXWXSMd_ZVXYONLQURTUXY_ZMJLIFP[WRURPYUSPNPPMOTY]XQZb\VSRR__ZOPVY[ZWVQPQNV\ZTQQPNNX\[UUTSMOOLSSVRRURYZXVZZX^_YVKGFKLLPURSPPNIIMMSZYWSUXXXYZVOQSKKLLOTQQYcea[SKHIOTXUTQQV[\\\b^^VN[VRTQIM[[TMVX^efc]UQPZZYVYYY^[VRTVPS`b^WKFGMOPKLMQPQNRUVWWQOHAEQURNSXYTJOVXY[^X\c^WVXW[TSURRU[[]WOPOLMTSNJLGIIIMMNQRSTW^ij`YWTNOORNJOTVS]c_TLNLMVVSRUWUUTUOY^Z\^XMILKQUUVSUQPRUQSZaa^VRMIQRPSVSOS]\VQQU[WPOPTTUUNMVUSQX`dbbb``\UWURSY[WS]dd]UTSMMRTOKIRSTTTNRVVTTOPSSXWWUUPJIOVVSRSTPKNWTSSY[YVTQPNPTXVRKGHRWQQX[XX_ea[VTRNORSONKIGGKKOPONQRVWWTV[XTOMILPWVU][XOOUUSNVWUZZUS[a_SRVSQPPVYSQXTTVY^`ZRX[\YZ_ZUPUV^NERSB73BMIFEDNUVDKVQRS[XW[UQUYWONSSOQQQONPPSPPOWST\ZOMNKHQTRRTTRQPQMPTRLIIMLIHH??BDLRRE@JPG=HU[TJHNWZY]]\[[YZ]\XTY[\XQKIRZ[WKJQXZSQSPRTPNMQQX`ee^SOPKJQSTSTUXWVQUVXUKIHHDKJRXVRNOLQQNTWXTTXVVVVTSTQLPWVWZXX\[XNJLIFKRUWXQLMNOSTSSOX\[]_WVYUTTOPUTJLLPRTYSMIISUPQSVRNKRTOHX^\SBJW]VIOTQLGOOKJLLHGLTPKGNUSTMLNWT]aZOKLLOKQQUSSNMKHMMQNFFUYO-3SeeaHQ``VXZV1;=OU>'?CF"+5PXJXWU_baHHKLQXWULNR]_YXWVSRRRQOPSRSUTQHGNSNNOKCNYZUINNNJTXXZ]XXYWWXXQGOQNLNNRWVV`^TW]^]YRJGMQTTURU[]WSLQTVPOSQSMDHUWUNV]_VJPPRVYSTYWTRTTSYacZOIFMTW]_UY__^\YTXY\WRSTMKMSWVPHMRQUWSLQZ\ZSVTW]^XSX[SPQLQSTLTTUTVQYUUOUW\aaVVZXVRTVXXSSRVRXYVTW\XUROSUY[W^caWWUWTSUX[[VKVMOSWSPJXVUUNPXX\`[TRV[[ZTWXWWRVSUYVYVWUOQPNRWTVXV]bcddbbZZTYXWYXTUVUUVUXVVWXRYVXTQUYWPOTTQVTURKRUSPRZa`][TNQX^ac`[[[`[YXUPPT[UMRMNPVNTWVQJKOQRSW[ddWQP[]YNGJQSWYZYSRPQ[_SPZ]YSIGRLSXXUPQQJOSTZ[ZRQUTTUZZcedZTNLIKPXYWYXTPJKPNNZ`]QOYZROXZXQQNOMNKRUPV`ff]QNOJJQNJLUSVZZU[``TQRNQOMFIV\[[XXZ\_^b[XVW[YWVRRXYXTUXX]_^^YWSRWVQSSRMVYXXZUQTRQSMOW[WOKKQRMKLNW[ZU\_^YWUSQLORQUVSTTRQLRTTUUVSHGPQNMMLQUUSRX`d]WUSUTRSNHRURP[ecYOTNJOWULKHKRSNV]^YZ\YOMMNGKUWSQSSVVTTV\_^XQQMLJRWWSTUXUSTSTYYOLMMNRVQLMRROPW_ab__ZUSRNHFQVWUW^\`[TIOTURNJNRSRROLLIEOSQQQTPPORTUWQLORRMNRSJLLQPQVXVSSNNV\YXURRKNX[WTXY^abb`\TTTRKKNMKHCAHHJPUPIGKUUKNZ]ZUSNKMQVOMPROKIGPOOVYWYVXX[ZUGJOQWVWUYXbcZPQQY`_\afc^W[^W^YUQWJLC:8DKJJGCOUNFKOSOGENU^cc`]YX[`a]WOTWVVVLKQX[WMNSX\^ZUSIMMOMOUZ^kpn_ONMJINKLKMSTPPTYYXSRVQKMHNUSNNQMJOAERUTOQQPQVUVUPNKOSRROVZ[XTQRURUZ[WRQLLNMJIRTUXWVRVTWWURNKSXRJKQLJKNTVUPUWWYZVROLNVWTX[VTJINXYSNUWUTURRWVVPONPNGJQROPTTXTRRWWPB;HSOIJNTOLRW[SIPTZX_e_MCAJ\_\`aUP_hdU7MisrcC1IVX43VVJXR\ga\eYMELVYZWTRSTTTPPSRXXWQNOVVRW\WLOX_`[ROH@;FKF:Q_R`YS^VJ4.=UWOPRSSTQAGKOPNOOHOURRY^`\TMGFAOTQPOFJTYVRVSPMOXXOJKNMTQOHDKRNIMP]`XSTLJRPOOUUUVM>BLLN]^XPHILQQNSTSPNKIKRXZXURWTLPSOJIQRPPVXXXYTNQRLXl||o\X`a[XUORTUOMNXVTVX[[XRIPXWRV[]TPPVTT[`b^XTTOUWWPLGNLMSYUQVUWUVOJMQSZ[[STS[WVWUSJRVWXUXVYWYXYRRUPOSW]\XTQVSWVQPOPTU[\UNUZ]XUUXYXXVWYTTTUPNPSUTWVWTSZaaWLKVXTWUVTWTWYWYOQVSRNSTQSYUVYVZ[ZZ__^ZVWWWVVX\`]YYVRSXXNXQXXTMRWWWWYUUWXVX]_PPUWX_a^^YTX[\\]a_XOUO[cg`][^YRXYVRRQIEPW^eec^UOZ^[JFGHKNOWZYVW[\XZ`\XUZX[\SQZXUUW]]VORXXXVZ\VUUSW\]`c^\ZSLMNWWRGFOUYZXSPKINGIJRSRWUQMOEIHQVTPTMOSTTW\_]ZSSQPQNRVWVQRTSSJQGJKKU[YMIJUVQPPKMSVXYTTUYXXZ``\Ybb`]UVX[\VORWRS]YPOQVZYTSSXWRTSZ``[UQQPMOSXUQRY[TKJJIDGQZ[XXXXWX^]SKPQRUZVJJSUTSQHHGCGQV\a\RMNRWVPKKHHANSSTTQTYYUROLPU]Y\`[TOOWXTQQQWWSPV\YZSRUVRLOSOGDDDCLVZYYYUSSPNJMKJHTVXWSKDGORTSVXNS^mtrm`RELMRONNRUSKHLRVZYYTHKNRSLMQMLPOSQPRRWUPRTRSXZWVVWUTOLMLRX[ZTSTNJOFFKLEHOQSTUYYZ^`[\WOJIOMMMKKPPQRWOHHHKPYUPNNIP[]WPSTSQKJPLPRLRTVXSRURR[XPRQHFMUVPKLLP[YKIMMLPQWWWWW[acZ[XSTSCKJA,*?PO[[A=XWLRTVYTURNLIHDOVTJKOQSZTXW[^_[ZXWYZSHLRTQPPVPJHMOPVSMOPLIMWUPSUQUZ]_^WNNVOABMNKEDKIGIKPSUTTZ_^ailja[UQOLKKLKGNOKQWSMJKJUYWUMKLPX^WGDQYVPNQSOLPPV[\[UYVY]WV[`XOTZWSLKMS[XPMPOOLPOHKNTUd_XNROFKED=@:JOZ\GB-?KVLEFP]^RPJDKQMQYTPSSPWSLIEELRNLTZ\\WRPPUTOLTUKHNPPSURPTOICGHJPQPTXY\\UPRVUKMRLIIHBCEFDFVcjkf\PHFHKGGQTUXbfb\ZYYVRU\\YOJLRX[^[UOUUMNTY[^`^RFHNJMOJDGPRLJPQSTRMRX\ZZ^^ZXWVUXWZ_ZWMMPOKLTSOV\XRV\\PPRVXQFIT[_WPUYUVUSSWTVTUTPLKS[VX\`c_WIKXZ\ZOMUVSIFLRXZUWZZRQQRNIMTWSNQY]ZWSONQIDKOLGEEFMRQTY\]VPMWWQENRKMMLNN=MRPKTQLVhfV>FH;BKERTMT[U>;STN`[<.A VaYHZUNTUcd^]af\UKKRWXQNTVUXWZYWUMLRPNMQWWWXUTMSUSPLMJJJNNKEFGGIIOQKGJLJJRRLEHNVZQJT\][ZRNLRSQPMPRJHPTWXUSTSOIPSRTRVRUZWXSLIGMJKJLNNIGIIPTUajh^SONX^`XVTNPSTRSQKLVVTVUSUSSXZX[[YWX[\_b`XWUX\_[\\VURS][PWc^SOOUNLXTUXadcXWVUXWXUXVWXX[\\YURTUQLOMNSTVROQVX\WWXNNWWVWXSUWST[VXTVYWTTTUVXVVQSTTLV^\UTWVWWTTVVRSTVVPOUVUUVXVXYRVVW^YQSURUWVYXWVUWUTXWUQVXTRUWTXURUYXXURT^]UWRSWZZZ^^UNUUXVTTVXWY[]YTXZZNNPX]^\VUbb\JMOPS\[WPS[XOZficVRYRNLMRXXPNXWPU[`dc\YW\[\ZUSNQQLHT[c_TQ\[WTZ]\\VPSQSXYQOSQORNKOTSTU[\XSRT\`\MMWXVTURVXRQTMLPSUYWTSWSQSMQXZ_[SNTVUVRQYWUURJFITRUXXYWUVPMMTRZ^ZWWLIKHHMNSVPOX]b`]`_ZSTVTWYURYUPNKEOUOMPPUWYWZWTSNHJJPQOONNIIIMNQOJLIBFPKLVVW__ZTQRQVZVSXXUPFJMKFJJNUZXOMSPPNNMJKNMP]^^Z[WTTOPQQEGM]ba\\\YPTQQOPSRZ`df[RICDMMMLLMKKFKUVKEIKONMQOMOPHLRURPRY\\YVOS[`VFIRNPRQQ^bb_YV\\WNIIUWTV[WRLMMVZ[TIFKJJMTXVSKKLFKLRVUOPSTQMMQJELHHQVRH=CFFHLHEFJMPNLMSXYiqofYTLLMIGHDDHHIMMOMLMMOUSPIGLOUY[UUNRSMJKLIJJILW]\TSV]\WW\`[OLQUQMMOTTTMJLH=CKMFCFKSXWRNGA:LNED9?HGQWMLQ><9DKMT\_[NMKLFQWWWMPSTSUVZ\ZTKMUVXZ]\USMNXXUNNSQQRWTQWXUSMNGNQUVSUXSQWZROQVVRUUTOLNIIGNORXbgebZVVQNPNJKMDPY`a\]bdb_YZXTNPUWUMPSQSQNNNRVY[ZYXMLNLQUVUKKTOHIT[ZSOPY_a]\[YYWTTQSVY]`_YSMMTZVQQUTUX]XSLKUXVTRTPQTRQWVY[VQPTQSVUQSSY^YOHLTRTTXZSVWIOVUJBHPNRRMMTWRLLGB@JUVTQKT^\\b]TKIPNLKBFPUYYWY\`]RGMYXNGIQPMKDGEBGQNLLJJOZeaXKIFFLNNZ[ZQ@*CVVPUTO"*+?PN4MolbL=Qe`VTYbpTLKRTOOLHJMTZYVYYOIIMPMNPSXXVOTPNQOKFHEFDBGIIJNOHIRVRSXONOTTSQLSVSLQZ[]ZNEJJLOONTWUKNRPLQRQOLEIMJPVVQPURUUSOLKJNUZWURNGCEPOW``ZXOIIUY[b^SMJKMUZXWZXVZZXUSMPVUY]_`[\\Y[Z[\XWTR[_XRUTSNTS]ebVOJJUXZ[TQS^^\RTTSUVSZWTWUWXXUUNSXSQTTSWZ]ZSR[][VRPUWSUVXVNTRRVY]]ZTXUUWVTWWVVORUPPYa]VQQQTUUXVTQOOWUVSYSUVVVWTTXUUV\[YWRTOV[VTVWTXXTXSRXMWXYXVUWWWXWWVTOUY_[TWTVSVWVWRVU\WTZ[VSYY][XX\]TUSQS^^]\^[[WX[ZOKVXQRT[YURU\`ZWXUOMLPUZWPNOLORZbb[UYZTVOOY[OLKMU\^a]X\^_`a_]^WTWVOJPRPUPJSTQHMSUSVXTRTUQUYVNNIPXXSQTSOQKNSPTWY\YYTNQJFLY`^SJS[XQLSXNHKMTXTW]MPMQRRTQLQZZYVNPSSKGBEJR]`\RS\[ZVVZXOQURRVPISVV[ZSV`^TPRSSSXYYRSTQQUUQMHIMOLJMLMMMPUPUUSQRRX^^XVWYXYXTKIPSUMGOPSNINTSOPPPKFJQNJEDEKUUHCRTLRY\[USRV[_]\WVWNLNLLNVVPQ[a_YKLILW^VNRWTKIHNQJGMNRUQSUXTRJAJNQKJNUWXVTUXVOMQSZ\YUY[ZW_`]acaXK;DIPVUQNMRTVPQTNJOIAJPSTPKSTFFKKPTVTOEDDJJMNPOFKQSHBINNTYVIEIMQQJAHOSYji[NTNDKHMOMFDJPSSOJGKIHORPMGJPRX[]ZQKQUUOFNQRNINURJCKQWZXWSMMNDIMNTQNQNJGOPHBFKJHC=BMNOXYTNRVMERTYOEJHHF=9R[YNZVMQRQVSRSVXUZZ[ZXU`ghaM;EV_`][SZ]Y[[SSWSPW\\TQW^[W\]RMQVWSPNPPWWVZVYXSPTZTMFMSW[``^[Z[XZ`]YVULJONMSZZWUOZaec^YYYTX[`\SLQQSTSZ[XSPW]abaVUKKZ__\YWWURUVTSWYY\[TJLMNNPRUQQUWZ_[TTR[a_UOQTRKKGQRKNSSSWTMKQVWWS\_XMORNQUYZZXSVWUNHPURYZUMOPIGJCBJUWUSZXUQTTSPMEGJLLJLISZZ`c^URU[ZWUUUVWYTORVQPJIU\\UMPRSQLJPLLNKNUWZNSXY_[RGADO[ST[_UQN\d`TA;I3#.GGHE0`p{rpdQcWWV^qIEEGJLJACOTXUPQNKHJOV[XRKMTRTRL?MXYVMJIGEJOQRQMJKKGNY]YPQQSXZXVURRQT\_ZORTQKMUWWVNMTTSUXXVNAAJKHOTUQOPPOPW[VKKV[ZSRSNKHIMX^_dc\PEFNY`ebaZUELSTUW]]VTWSSTSNSUW[[TSUVX[ZYZYWX]_`ZLNPNQV\^]VNQNQYOVXYUUVRWVUSUVVSSSSRPSXUUQPWVWTTSTVWVUTYad_WOVTKNVU[[VVTUVRUZXXTVSRTUSWSSXVSNVXXVUVUUWVTYYUPPTU[ZVVUWVXYXWVYWWWWVU[VSQXYYWVXUYZ\ZXRKLOW[c_V[[YPWPWVTWUU[[^^]VWWTUUWV_`^QRWVVUOQZ\_b_]^^XUZbed^\UPY\\VSX[ZY\\Y[ZUY[Y^W@GMQPV\\VMINXYYYZUTX]\XRMVWNR\\]][\YROQPSTTUSU^`]SKPSU[[SQUWVPRVUIGDKLMMS[UPQTRWXTNKLVWRMPUTVX][TLJPQOMPYXRJRZYVX]]ZQORY_[[_PLNRU[]_b``UKETXUPDLQOVbfb]XW\YZTVYTPPLPTUOOTX[[VX]aYSTPJQTVWWWVSMUXTUUXXSMSURRSOQPQQSTPKLOY`]]ab\XXRNPQZ\[SPRTVQMNKMKMMNKMVYRLIJKNQOJIMLPTZVTPOS]`]ZTWVPKOONORWWZYb]QOUUPTVMDGTSQQJOUUSPLTXRQY^aXTOMOUSTJKMWURRRQSVW\^`]SUYTOTY_^`ba^S@FNVRPLHMNRNPYWWYYSSQOQQTXWQOSSQPSTQOMQVYTWVUUTNQPPPSNQUVMJRTRRQJJILZgkaX[YQMLRXXQHJTUTTRUUNKSV[ZWQQW_]\XRTX]YNCHOOMOPUSINGJN[[TLJQTLBHLQWTTUVSWYURECLQP?JSWV_c`[VMLKKVXZSSV[V[YZXVT[VVROVWQJKLTVUWY`bZQXXWPOX^]]^][XXX\\XWVTT][WPMWZWU\^SKMRRLLLIEFJRUTTMIJNRLHHPQS[[\YRQYZ]_[RRPIKLPSWXVXXQSSONLXbfb[YWSPQLORQTYZYNGKX]ab`_WSX]\YWQTTPHEMRY]\^TPTTTQMHNPSSROQUXVTRWZTLP[]QDHTY^TUTVTSPTVTUUUSWYJHRVUVTTVUVUOQRKNQPOQTPWWVSSRPLY_\OFKWYUUNKLJMTQPLKNHMQV`bZOOWYY]XTWZXZTRUQNKJNOTVULPVQLPSTPPNOOW]YWQORTYTMQXVWPJWYSOMMWXWE=5@4KNJCMSN_gjf_bZWXUUk{‚LIGHNSJ?ISUULIMKGGBGSTTQIKNRQPMIQ^c^ULJHPVTVYRQQQMFGOSOJHIGRUTQMNNPU^a]]__UJOVYTMIMUYXWVSTSMSYXUVYWXZYURRT[WRLY_]UPQTMKMLR_agicVLFLVYYZ]^YLKPUUUWZ[WRQNVXUQQURSSVWUTXPNT[VSUSWUPW\ZUWWVXTIHLNSWSVXYVVTWTUXPTUVUUSQTVUVSUWVVTWXTSURSVRT[XTSSYXSVWSWWYVSWUWVWSPTYUWVYYWUKRVONUXWTTTWUSVWXYWTRTXZWWZXXWYVY[aa__[YXRWXSSYYXVTWVTXYVPNMMKOVa[X^c^\TWW_\VWXUZWZWWPPSVU\\^XVPLV^`\XY\`a[Y]YTOPZb^]\[USVYVSY_b^\\Z][X]ZZd_JCLNRUYYWXVWQSUVUVV\a`_YVOOSY][`\[ZQOQQMMMUVPOW^]YRKT]cb[RNVVUPTMOMKNNNR\b\NR\[PJRVSUZ]UG@MUWYZYWOMRSPSUVZWPT[[[^^a[UTTPSVXZUWUTSTVU\ddb`UQUZZM>CRZ\^YX\[ZX[^a`[XTRRVXVTQSTSV\aYVPOQNEJPRVXVPIGOPPPX[XOENXXYWUQORUULELNSY`^Y\aa`]\UTVX]_YPJNQONMUWQQVYVPSTPLNPTNMPRSOPQRZYWYUTWYVRLU]\[WPMLHJTWUPKQ[^YULHMTYZUOLQRSUQOVWNOZ`b\TVWWWWZXQT^a]RLOSTRSTVXSRXWQLRUTMR\][SQQOTONKKKIOX^ZU[ZZSVV[YTTMLNNMLOTTQQVSRSURLKQSRUVOSVTUWYWVXXRTUOLNNPbhaWWZXUPQYZVSUSQJJT\ZRRRYZ]VNOUZYWXVXY^\UNTXQRTVXXSQQOQPNIKRY_XVSWSRVX\ZWQPRVQRUWYTP]]UTcd_XZVUR@C>R^`a^]]ONEOSUVRJKNHCLLOSYRCU[PJQMPOY__XJQ[[YLJMPPUXWVTWVPJOSUVZXQGLUWNKQQI@DNSRPOKSRMGOSROPVUUSRY\\\_\WLGLTPJOTURQPVZ\SJQWbgfaa[SMIGGJOQKHC@=IRGLRRTXXRQRPPXZVLGGKMMOVZXOQUXYTIIQVTTXUSSPQSSTMHPZWPIOUZWSQPU[TMWaZXWSOPKBBLR]YRPMNVZTQSPMJFPWTORQOTQU[[_a\VNOTZVVOOPNLLPTUPMQRJDO[\XQUWTXWKQURURWXRKKMQNCNVVUVOEGPTRQPUVWTURO<=HLFHTcbWMMZ]E;KTc_QM>H6PM^vobEKMOKDAJV[XUTUTNOQUTZZSEIJJM[WRPTWWSHKX[\ZSPQSSOK@ADPTQMKJHNW[]YWYXOLJNRSLJSUVYVOKSWYSSVWURTYTUUZWZYSOW[XRTWXTSPJLPWWTY[VSV`_ZRHGKQPV_`[QRPKOWTNFGKJJLTQPW]ZTKJMQQSXYXWUUUXRKFONPQTUY^[[WZXSRPR]ZZWTSWTVRUYVUUWTVWTMQVWPUUURV[XVTUQSUWZ\UQQUTXTUYWYZZZXSUY[YYSQTWWUUV^\VTWUWZWVWUMWIQRWTVUW\[WSUWTTWVZUUVWZXWXUYXUTSVQSTVXTUUUUTWVWXZXWVWY[XTY^Z\\`YTXTWSUXOPRRVUTTWWV_[]_[X]_\VQP[b]ZX]]^YV\]YUWQQY_e`[QRX\[UU[caXQSOX][TV]\YYWOKKNUVRRUXWTWY]ZZ_[XZXW[[WSJGHGPVURJJOSNMT[[]YRJQUV[__[WVRKEORNR_a\WTLNSXVWVVSUNMTXVSW][PRYWZ[VTWWWP[b]VRYa\USRU`b\Z^\WVTVUXXTRSY^ZVXVRLHNUVTX]ZXZWX[TQTUONMOTUYYVRLJMYVKRZ^YTROLIJDKKHQOFLSZZSLOTVXUVSW`cdc][PHS]^\^^_]ehfa]Z\[SWXTPKDFMRTQVWWTOAGOQRQNQXWVVRRTNCCIHDFPVTNPSTY\]XV\][UGDS]\XVQNNWXVWZWRSOJDEQPLTTVVOGN[a[SJIMOGGMTXWUSMTY]WTUZ\\]]XRQ[ZUVQU[][^`\RQUTPPSUVONKGNPTQMMTYZTMRT]\YNDA@?LUUHPSXYYTNFGKTRQQSSTTVYccaYUONPUXYVNPRRUZ^[TMVWYWSPNY[TJHPVVX]a\Z_]]]ZYXQMOOTOKR[_[NFLOLOWX`]YWVVQOTYRKORQXUNWZQOWYWRLI:INHR\U_aPQL[ZVNGPUW]VMMSSSQSPKPVYX\[ULPPOLHORRRPQTSPSWXMILMSW[UTV[XQSQRNQMGFQVVPOSTWUROCAKRSXgpqk`[NGKPSUUUSUVUSLHHIHKRUTUURILTZXUVUNIOUVPQQTYWV[]][Y[YZ[VQTYTIHLJKNX[YQPQMSUTOJINPXWPICDOWTSURRTPSTSMLT\YXUPOWVVXXUUXSRRY\VTUTTXWTSNTTRUZ^\XXXUSYVSXYVNIMVYVJ;DRUWXYROPUYZUWLGRXWX[XRLLPY\YTMQNJKW]^][SMMTSMUXOOOSWYVXTOKJLJPSZ]US\]ZF?=<:56DOYdWHVVSHGK\ke`L3?W_cOQ\uv^WNPWYN@NVYUSVXWOLPVUTTMLHFKSWVQMHLXZVRWYXXUSUSMFD>9:FLKGGGB=FMTTQOOPSPQWZVNSXURQWYUQSWRUYSLQWWUWXYVYZUMOQNPYWVXVJIKHLMW\YU\cgcUPWXTPW[WKJMPPOOVTNOVPJLWWNWUWRLNNPTRTZ[ZXXWUSRZZZWTRU\_][XTUXWPPUVZ[ZXNPPKOUTTQRWUVPPQPTSRT[^X[^ZXVVPVUTTTNKQSSUWVV[ZZYVQR[ce_XUUTORSTUSVKTWYYWXXUVPKSJLRYYTUU[VVTYWWUVW[ZXWWWXUVWXVQPRQPPTVURMRUWYSSVYUUVWTa_ZZ[YU\]\VVXWVPUXUSVUWVXXVYXUX[RLV_ddc][_ca^[VLT\\WPMLLT^eb^]VVYYUU[^a^YQV[_a^YYVPRVWSPISQLQPSY[VX]^^`cb_YSTVUSMQONUZ^`_Y[[YU\\VSUPLLPQQRRV\__YPIRLNT\`ac\TUTUTUWTQKHNSRNUYXRY[VUYWSSSNJRXZZW[_[VUYV[\`ZVZYY^`\WSTUQRZa_XSPQOQQWZZ\^^\UWVUNRTUUWVTOVYXXXVQRWWUYa`\VTWXREAILMXXROQTYWWSVUNJRUORWYWUQPKQ\\WUUZ\dnomigfc^_\XWRIGNVXQNMOSRD=JMPSTSWTPPPRNONPQKHMSUTH>JRX]^[UYUVRQVUWVY\VKOWWRSWVYUFI[WUY[WSTQJOZceb[QRLIQSRVSTM?L\b^UST\\_^_XWUSKLNOX][Y_aZUTUUUUXVODFKLNMRTSONOLNPOUVUSQMONHPQOOQRTTVTSUSNGKW^^UPS^gjfaZRGPUXUTQJGLUUOSZZZWVSSQSVZTLOWWSOYZXX]]XWXZ[TQTQOPSTY[XONPOMQT\]WOUVUXYVWVJDFHOVSZ^XMRUVSC6IZ_YLIP]bgNBSOLHIRXRSTSTW[XQR\\_`ZZUVMDENNLHLOSVTPSXWUTVOHCLV]XXNMSSTQQJRUULIQUPPWXUUTQPNRSRPT`pwsh_UIOWXWVUWZ[\WJHPTNLNSTSVRKFIMOQVTOJLQUQRNTUVTUVRVVUUPNOUUXXVWPOHFTWSPRKHOTUOHILOUYTPRRPRPQURNPGFPLEBNURPRTS[]ZTPQU\XNQX[XNLMTZXQNRRSOFNVX\]`ZY]]VVWSOKOQQQPILVVUVUUQUZ^ZTVTOJNPWVZYXRORZa_VJJJPVWX[WNRPNMNWVKJJKQVWTXQMOOIH[bhdWMD@<:GFHP\YUMQRRa`UGAGU^_U[7)7@R8@HDB@W^SRUXIRWTHFPROMTTQNJKQQOKJOUVQOOSUOLMYZZZPOPTUQORRRPOOMHMPPRQOIFJTVOIKONLPUXTRUVWTLMTSX`c[PROOQRRQOSUVVZSOPRNMTSPPOIOQQORWYVV]r~|kVYZZZ[XXRTPJIKPXXRTXTJJQUMKRVVMLQTVOIPSSQZ``[\]Z[_[OOY^`b^USUVQSVXXY[VWTUVNNRXVTXWROQTSWVWX\_\VWUTOJWVVXVWSUTVWOPTWZ]\YTUY]cc[URXSTXTWSUMIMRXSUWWVTVOMOUWWWUUTVSWWWUXVWU[\YURWYWU[USOPVVXVRVTUVXTQRVWUYVWVUUV\Z\]XXVZ^YXW\ZQNUWTVQNUUYVVVOIKOSU[dkkjegih]XSJLQUUQNNOU_`^YUNSX[\][]YXX[``[XWVRQLMRY]WRPJMURPPORXZYY\^b_ZVSQVVTSQRX[^a\X[^[[\b[TSTOQSWXZVUPVZ\\XSQJRVX]]\[]]VMGOTVUUWYURRMMNSYWW\^\WSPTYXVWUY^_YY^^_\UUTVNVaaYMIR[ZQVZ[XVTSYVUUVUX_^ZUTWTUYXQOLGKPTXYZ[]]XPUVU\ba]XWTNLNMJDJKOSOQPTX[][UQUUQNLPQRONQTVWYVSNSU^fhlkj`^a`[XTTSURX\ZUNNOMIRUTUVTNMUVVQNKLKPVUQRVQMLKRX\^ZYVTQUXYWOHQV[ZSORPKLTY[WVQXTMPNGIJLMILR[_ZVROTYSQRSURHJT[VOJQZ^[XUQLRSUPSTVXWQMQRNS[ZQOVVRKOSWVOQUUQMIDEHIHGINMMORTTVTQLDMQTYYVSPFK_gaTNMO^dc_YNKOSQRW[VPGUYNTXYZVTSQOJINTUX\\ZSRQLO[]ZRKJPTVUTKTWTQWZXWXRRPQXXMGOVUWXYVSMPRKEQ[YUPSSPIJFCS`abZOHNQQ^OWOOOQ]\OQVTUQYUVQU]_`]ZZYTQIEKIBCMUXUQSU[YVVXTPS]ccZUNGKOSKKT]\RKTZVNSSLSUOKKLV[XU_mqpi]SMQVXWSROLNQQLNURPPONQPKBCPPGJNV[^\VRTNQRWWQOPROTZZWZSNT[[Z^^[QOJOPPNJ@BMTSVWYVQV][UVRKLPVYRPUQNNJIJOMRRPRTQUSQPTX[ZUY[]WOJJLQQOPTXYZTMQORXTPKVWTQRUWVTTPVZWPVYWPNQQQUYQLPRMHLQURTTUUUSOX^YPPVZ_[ZZYUPKFCLRSPOO@@NQUZZQOOECO_^`XVPKONUZLPWb\TSREKWUPB0/DKKPM0GjrraK7ePTR[^OUWQJHKSWZVSXUPROMPFHSSQMMPQOKKMOSZSKJQRPLOTSSRUQJQUVTTMJGIPMKHLOFINQOPUU[\VSIKOZcd]XMOQSZ\WSTRSWTJSY\TQVZSLIHTVPQOSPRTZq‚„wXWXUUNOVZXNB7ALTXSJFILLPQMJNQLMLNOV[ZTVRMV]]^YVPWYTSW[\bf`SNRSJEN\bdWXUX[[WVTX\YVUPSWXVUYY[YY[YVXWUVRVYTTVVSWWUMPWVQTWTRWYTZ^SRTV_`\TUWUSOJMQMNNRRPNMRQMMMNVVVVTWUTVXVUVZ_]WUVXWVYZYXVXUYUQOVUX[YTKX[[XWSSUWVWZXXYY[\YWXVUSOWST[XVUX[XMTXUTNNMJOTZacaeimh]XUQJQUWXUUTUYXPOQV\]```][^ZWU[]XQJLPNHEEMSYZUPW^WNLKQTXSOLORW[\^`a]WZYXZ[^^RHLPRRNUXWXWY]`a^TROMMNPTTNIKPSQRQOMRXVLEPUUQNY]XRUVPVX\XY[^^YVVX[YYLPTZWPQX\YWURSV^__WQNW\\YUVVX\VOTXPNLLQ[[XOPQT]`[ULEELOQPRSVV]YSJLMRYYVUY[VLLQMLRRTSOKJIRYYVX\_ZRMH@IQUWZ\TRUURLJJIIY^bb`bc_\\[WWOHKWVRKLOOLJRTUWUPOVYXWQOORWZ[VTQKMQRONTRROTXVPPSRNSWUXTROMMRTPQXYVTLNPSNNSTYXRLKTZ\QNKOXVUSSNLORVRPIGLTX]^YSOLRMPRVPORMELTTRWWQSVSTSV^]WQOVWTSQNPJAIHJIJFKUZXRNONMNQSSSSSPMNXZUOOLHMZ`^VTTQIBFU[_TLOVUUZVY[Z]^XQGS\^]ZYXUNNKJJSVVTQX_[XVZ_^NFNOMRYTOPPSQLHNWXVUMOQUWZWRS]VVUUWPVNIIPTVTTSZ[XTLFYRBCIZZegcN2?JUUPOTSVUTQKRUQGGKPPSOLMNNVZ_ZVUYROWZ\\URJOLHINSTRIEJQOKMMOONIGKJIRXX]`hhbQFMRUVYWTLG@JMMNNJRSGJPQTRRX\VMKNW]^TNLOOOWZTIAJPW^[Z[ZQOQW\[VPKGMQWXSHCLTWXXYX[URZ\Y[WLGMW]XPZZUPSVTNOU\WWXRJKKIKTRTSVWRPLIEJOTQQ[a[WSONOIEIJNSRLRTSRSXZYVSLCENTUXWVMMLLKTPJHGNNPSPRSTXXXZWSNNXYWWX_bZOBFGLSUTQNMSTVZVQQPSXXRSOU``\[SXZJ@R]YOWXN:M\[R2EX][8@8&*Xol`B:@JRUUWHSVWVRPYdc^YXXWRLFKJLOMJMOKIJNOPMUXVOQQPQQJGKNSWSNOPRQKH??HKHBAJRVUVTQPTVXXWTOIGOY^`YMIHKTVVRSLT[ULKPTTOPSWSOQVSDDMGCNPRaptjZ^\WVQNWZWIDEGNPX]SGLQRUXRQPKCPPPLMWXRQTTW[ZWSNFLQSWZYW_gd]WZXONUafebVUSWXUUWXXUUQOWX[TTSVVOSOUWVZ\XSUZZ]\]ZUSVPTTSMSWW\ZVS[]UUVV[b`]VQSTRRRVUUSVTSVXRNQTWUURURXWUV[\[WWUWZTWXWZTW_\UWXWTXWSTXWXSULTYXTVTXXZV]_ZTPWXWVXTXTXWSUXbe]YVSUNXJPUPLMONNNPLP^hjf\YL@LVVTYVWQRTRQOUWXV]ZQX_^VQU^`YRLNN@;KKIPUYX]bYPTYSTVUJDIRZ]]Y]ZTU[[WWYXXSOMJPJDJOROTZ\XSMDNMLPKGILNNUXPKLRQJHMOSQWZ[YVZXLOY`a_^]]XV\\YUUNPUTNNVUNJJMMHKR\UZ[TUYX[[YSMOQU\_YKLUROLMRY]ZXWSW\^_ZTOLOIQSSOOW]`VMPUQORTPVZ\WOOOPTQPLMSXQIMTVTW[XUTTJDLPPUUTTRMKJKOPIMR[_dkg]X`^TPG@HMMGGLQSLGFGPXYVYZUPQNRUOUUXWSPUTRPQPSXZUNQUSQQPTX\^[UQOMMTSOMSYUPJKNRSQX_a^VSPQX[\TTSUWTQQOJMSUPMPQRQPW]bb[QKIMUUMJMJKS[YMIDJSTSWYYVUTTOSPKHLOWUJGHIJIFHQTNKRVUUY\ZXXXSLOTSIHLLLRTZ`a]XWRNMIJRVVWSOQQTVU][]^XQNZb`_]]\XSMHFELW[XU[[[TOVebUJKJNSXXNJOWZULGMNPNOS[]YVTQRUVV]\_\YXSUPDOG@GYZTKLMVSQSEHOPiaMHXTGJPVQHOSNKQ`^UNLOX^YUOWUSTW^^ZYTLHOPOSTTRSPOOLJOUSPMKLQRMMKLIORUQKRTPPWcaZOVXVVX[]XNLMPPOMKROJPWY]^YVXQNILMTZWQOPONQWWPLHFSZZSUUQPQXYUONOPORY]XKDJTVVWXR[][WVUZXVPU]a[QMRPPSXSPWZZUTVOKLOHKMPU\_YUSQJHLKLPPUZZSTQTUSLNPQTVW\^WPLRSXQLNLHOSQKLONLQPPMNSWXXWVUKHPUYXVSOPMMUZZSU]a]TKNSXYZPEEHPNLMNSSRGLOV\TS^WP[SBC>CR[^XZhdVNKNB>-SUM,*8AXJ6'@6?>I?)gdWUXLPUUOOZaaXMMRUSUQNLIRYWRRTRQOTTTPTTTTTQRMMNUQJNLJMMQTOMLJKMIHKMSWWY^YTX[ZRKIMMHFLSWRIIIIPRRSPILQMRWXZVQMNTUPJPLFEIINPTUWbd_^`^WQNFLVURQNQPT^_UMQUUTTTTY]YSTUSNTVPGMX\]ZX]]]]XU[`[UZ`c^Ya`]PQXXX\VURTTSQUZ[VRXUSUUTVSXTTTPQWY[\WWVUU[^`]VVQUTTTRTTWWY[bcaXSWTWW]]UTQVTROUY\XUXb`XSVSVWRVTTQPWWV\]WUX[YUTY]][Y^`XXSVWVWYTTTPQTPPVTYUWUXVUW]\YUWUXXVVSUTVXXW\cbWVOQXWUYUUPRY[SPQTTSU_d`]XOHLTQSQWV[`a[TNRZZ\XXUXXWWUTV\]XUNLIILKGLPV]`c^TU^XIMSPHEIU[a[RMLU\XSUYWRR[WKNOCCMQUY]ZTQLRVXUVXTSYXNMIMMQVXSKKOWXYXTURWWPT]YVXTPUTTX\ZZXTPSTVTSX[SRPJDKP[`VTLQ^[X]XULJNTVWZXQORRQS\\ZYWW[\Z]UXWTUXUOSVUQPMSZWPWVRSY\RPNPVWWYYV[VXTZ[\TNXZUNOPNTSQMLPPPWMJQRPMJRUWTXXZ^a^V]edbb]PJIHKRLOUTTPMQYTNW]VPVYZYUOINVOJTXUSSKOTXUSVYUPWSVXVY[\XPNUVRKLMTVRROJKMMQV\WMKPRQSXXUSPMNMRQOTWVRTVTQV][TZ`_\XURUVWW\TQWXTTUUTURNUWUPNWYSQPDCJPWSKJPQLJJPRSVSSZZUVWUSTTPGJRVSTVSNHMSXVUYWYZTKGIMPY[WRUSPRVVSONIIV]]]_^ZUQNIHQUXVPMHOXXLMSTOOLJQUYYVRQVWWSFCFFLIMRZVPFLSVUSSTWYYXQRKCHRUZacVB-P^`ZWSRJAOZHFTM>CIRPIJNIU^b_YTUSW\]WWY]YVRRXZXVLNW\^ZWUJKRZ[ZUS[]]YMJSSRVXSNQRNMLMNQW]de`ZXVSPUX_XOQUSUXSSSMOROORVWUVTQSRNEJSROKLKKMQNLKIPY[Z[WUWWZUOJJPTSSSTOMEDLLKQUPTYXVWXXWRUWZZTJBACKTQEDLNOSTWWVYWQTQNTab^]YQHNMNLTYVTUUTVTVUUSSIINIKSTTSTSSSSTQLKOSNGFKRSTSNLQTQPUWXXPHRRQKSWQNOSSVUVTTTWVV[YUTSNMOMKEKOTSTNNNRXX\c_QQDCJFOUVOBM_bYRQPNKA9C3%=TcXHCQcecZk[UTVNTPMU_`VFCNQQMMOPOKOUYVQRYYTUTNHMQNJJOMKPX[VLMTVSQRUYTUUUUPPTLFHMV]\X[_ZTRONPKFIJPQNPJJQMHPTOIJRVZ[VPNJNLMKNOI>DJOSTNQR[a^Y\]aZOKLRTUTV\^Z]]XTSSK=CLPVZ[YVTVPRVSJT]\YW_hke^]WXZ[VQTWURW[WRUYTOONSLKSTURTUMPZ[SXPVXZVSPSSSTTY^]]XPOVXZZURRUXYXUWILRXU[^]YVTWXWVTTXVW[TVNY]]UV\]UQTTVUNRV^[TWWU[WSVYXYSTY]\XU[\UUYVWTWUWTUTVVQTXUUWWWXTWVUWW[ZUTV\YXWXUW^\Z[WURMSTVWXYTMK[ZZXYXZ^\YVSUZQRSQMOUXYadc]VRWVYX[_c^YUYWVOT]\]\UPNSVTOLOTVZ[XU^^ZYUROLKMPTWQHCGPSPTVUNS[WMNVUQQSXZWVXTQOZ]^[XXTXZXOLPQPXZXNGQZ\XRPPTYUSW[XQSWQPMMSRUSUTPTXXSIU[WVXTQI>DMOKJZa_^aZQSQVQSPPPXUUUUWZ[[WRQWYWVUXZUUZWQRURTRHJSVX\XPSUUUTTPTTRSOS[[ZZYVZWQVVQJPOKONPTUSMPPNFPVUNNRTSROQQKMKLbhjmjbXQHCKOQWY[WSQPQNQZa[WY[TTPSUROQXZZ[XUPRSLGQZYZVQOQUW\\[\UOVYPIMQXZYYVMJKQSTVSPPSVQNNRUPIHJPTYVUTWWWVOCGORKELUWXTT[efaXZYSUVUWVYZRNPUTRLOTRU[[WTSURNUUPEAHNPPSTRVZRJDKJPTQEKY\UMRSRPNOTVWYTQRUVONHIRSOOSTTQPLKRWSPNRRW[YSLQPOORPOMQNIOXSLJPNIQNJLOV[WNMRTRTTJKNGA8BMUULFTX[ZRMMSRKLKGNWXT[_`YAD[]ZUHTRJBNVWV[SSQJPONNGBMXWQNSTQPPVVRUSQORUOPY]^[ZY\\Y\[VTXZVWSW]YRSTOFMUSUSVYULFMQNMPVYXTPQIHR_bZLEMRPRSUTNONSNIOX[VUQRWVQQNRMKPMFGLOJKECNUY[WOPRPJKOMOTTQUZSQOOF@HNSTVWSONUUQRUXWPNNFIHJRRFKQSPUWTSPVQIRUX[[XRVXRNPRRNOTUQEMTTQMMKRSQILQNSTPOTWSTSPPPSX[XVQNQKHNOMGFLLPVY[XQSUQSY^\URPLMQSOHJOT[]_\PVUUPPQIPYWULRNMOQPT[[[SFDIFSWXS[baRK=TPIPPTRSTSN049\fid9Rbeh^X]XUUTSMGRVTLILT][QFGLNMRY\YQSWNFLMJHNUVPGJQNMPRQPMTVYTPRYWXYXVPQZYRTTVXVTWYXYYPLLGGJNNQPRTRPPEFUSPPQNPQNHJPWQEFW\WLNLIJKKHMW_^[U\b_UKKRV][\``a_`aYUSQIFELRSUTTXTWPRVTU[XVX\bf_UPOIQWRJKW[UTWSFIVZTIGRTVYZZURUSTWWUTSTWQMTTNPRPWYYYTNNTXXUSLJNV\YUTPOWOKOSWWSVUXXXUU[^YUWPUV[\YXUZWWVVWUTYWXXUTQSUPKTTWYZTW[_^^^[XUVYXWWWPTUXVVNMSTTXX[]^ZYXYUWXTTY]_^[YQYYXXYUXWSSXWTWYRXPZ]ZZZTU[][YVPRY]YYSRY\\VX]\\Z^`aYSUYRX``_`Z[WWW[``\USZ\RMNPOMQMJPY``UKO[_^ZY_`]SMQOLOUVQUWWOVYXXVY^`ZSWULIO\^WQQRU^_YNSQKLWXM@IVYSILQZ\VSXWWTTRMLRSRQMNRXSMQ\TEJRPRYVURONQLJT\^cdbYZ_\QHEJRTVPPUVWYXWPMTSTSKMRPNUZZXZZWWQKOSU\_YRNRQRUSQNFEKX\VUYXURNPVVOMPNKMNQPVTOQWVTPTROLRPQOLNMJC@>PZ\ceecZOORUY\ZRNMNPJDMX__ZYWURKHUXWY]^XXZWWX[STY^\XUNNPLUZXQNLORTQMLMU[YUSLJKQTTVXURPUWVTY]UJHTVRVWTMLRUXUSJIBBAIPPPNKZgjdZXUTVSURNQVXVYXSNFJPRPTZWUUWSVWRLHMSZZVPOPZ[ZTNLQQUWSW]\RIKSSVPMRVVVQINU\ZSPUSVWXWSOKQTUW[XWPPSYZYZW\Y\XSKKQTQMVUKELLRTY\TPVWSWRKJNNZZRPGJNNTZXTLGMQVULDLRSNOQRPUPPY___KWa_GKTUP/ 6S\]THIGABBILIGENTXJFOMJLVWXRPMNWYXTW[YUSPQSV[\]\[OMSUUXYV\`YLFJKPRU\ZRQQQL?HSVUSOPQIKX\[VRJIFINORTQNJMPTZYRRQOQSSUPPUULJHGTWWTTNQSU\][XOHBHPOMOPKRUSRUVTNNJLRRSROKMWYWY]ZTQUTSUX]ZUTUZVPPNLEMSJHMUTNILTVTSY[YTFKVWJHPSSVTPQUVYXUSRVNLQVQLMPVRRVSUY[SRQRRRUNMUUSNPQTXWWX[]^YUQNSVWXQJNQVYZYRKORM=?QSVYXRNPNPSXUWVSPPUPHCNSWb`_^_PLR`YRMRXK01GJ1,*gsobCI\fjojRTTXLJPTTMCJRRUYWTPOOKPTXUQTWJDMSOOOQWUKGMPKJNJFEOVWYSPORTURTQOQTSQMPMKQTRU\ZOFHHGLFGGKSUMKRXY[WNHFJSVRTRMQNMQ[_YRRMHJGIEO^c`^ZXWYYRJMQRTTX[aa^]WPRVSMMOOTZ[WZURSW\[TMSVZTNXWUXWUPKJMOZ`ZPSVNJTZUQTRRY[ZYWTTUUMLPRWTPSSNWXSNPPSRJXSQTWXY\SNWPTWVPTUSTXQUTWVSY\ZVRUSVYUSPMPVSVTVXXW[_`]S[_YVTTUVMUUVTTUWUT[\^`ba^WVNTUYVTVVZ_`_YWQPQXZ^^_ZXWUXWWXXXX][^YTSURLNTTUVTTY[]]XPVU^WNMQ\^_ZTKOZacWTYaaRMPWZWQT[daWUQTZ^a]ZZ\^\[Y[]XRNVX[XRVYSQLFGTYVPQX[\`^[^`UTORLOOSQRTY[WVTWTRY[\WLOUPLKPPOKGBDTXRPVWRLS[YIFTZ[SR]`^UUYSU^_`XSWY[YTQWYYVW]_YYWTRQRJJLNJLNUPPVZZ\]ZY[WTUPRTVWQNRZZXUPRZ[^\SLT\\Z\[]a`Y[ZSNFAKSWTLLJIJEJOPIIRZXUVVSTRSWVOJNMIJLJOUWUXZYKKNNIMPNPUPFGGJLNOQLOU_b`_b_XTSRRTKGJMLMPTWV[ZTNKJNTUV\[WSONJPSSRUZVOUWQMMTMINHEEJRVSNOSPJDCFFQWSQUTNIKRRNQWVPQVWRTXURIKSSSQTOB@DLLRNJMT\`YTZW[_^[VORYYVVTWY\VPPNJU[VTORXPLMLLQYZYXWSW\]XQVTSTTORXVRLPVZTPNRYX][SSSTRSX^_Y[[^WUPSPQ\]^^\WWZ\cgeb`ZWUXUTVUY`^URVRRVYZUVZXSSQHHRVXXORUSUW[^c\NINOPRMI>PZYZb[PF99OY]VYH[\MX^SQK>F\dfZNMH13CKPMEGQ[][PJ@FHOT^aVQPRQVVUPMJNSRMGN^b`^]YRNTSTTQMLPPT^c_^TRTVRRNPRUXZZVOJMMQQQNPWPJHUWY]^VPNKT\_a^PGLNRTVWRUJKZ]WVRPKQRTTSTRISSIPTVWROQWQLMOMOUVTZXVRX__VIQVVRTRSSVSUYUTTWSTUUWVSJXU\]Y][TUV^a^Z\\TRRRYXQSWTU[ZUTSYYY]]\_[XRVWUVTNOY`ed`YYWUPVTW[XTSWWTWXVWTUUVTWSRRTMKSXXRVUWZZVVUVX^TURNRYXSLIS[]TO\bc\UMORVVMOW\YWQT^_`]SU[\_[YXUPQMNU[a^]]ZURMLGLRU[XVXXVXY\YVOOTRNPOMRUWXTSXZVTSVQINTTQNLPTMGHNYZYXVUUQJTWMITYXZZ_^ZXZ[UV\a[VORTUUTLIOS[\^YXX]_[XOJGLEACNNQJGMOY\YUPPRRWTYYWOKQZ]VSSQWYZZWNU[YQONU[WRORUTWRQSUVQQRTRKHQRQOQTUQRQVZTRX[XRRQRRMHDOPNQZXVQRHDNNLOVOGFHM[\ZZ]VRMOIMVZ]ZXY[`]\TRRUWVNQ[[NLORXVSLVXPKHLNMLKSTUURZc^OKIMQVTPLOOQUNMNRSROIJORRQTNLMLJIEI@4:4=FHIHT^_YNINPNKRONMG@VPPcXNSMO?R`RPbdLR_cbXNHLPLIJPVTTZYUSWWY[XRMCEKOTYWURNJFKVUSMMNTRLQOKSTPNPPRSO>BQXW^`\TXXXOMHBMRRVUTPPPJKUYVLLLQSPTZVQTTNJLNKKTNJLMV\^^_a[QOKGKMEHTYXOGTWQPRVYZ]ZULPLHN[]]YJLW_]XTMGMPW][TPRSWSLLY[XXVUYSFHUYWUY^^TWXWZYXXVTTSQSTVVVUTVWWRRUUTSWTUUROQWRTRURUTPTVWZ\WXTUVVY]WWWVTVQSQLRVTTXUZY[XUQPXW[]YOKU[\ZVVUSSVUUTWXXYRTY][XQV\][Y\ZWYW[XNRV\ZYTYYRNQTY\XVTQSWVLLJMUUSWSNOUTVSWVXYQOYZTLRZ]^YUQJEIPNFPUSLHXZTS]ca\WOMPPU\`^]]`\WTQMJKQROLQTXUQMQPSW[\[PKQSMKOPUVYZZ^_ba_[[UWUOU[_]Y[^[NIQQOPPQTZ]ZRPIIKLPVYXVVUTVXVTMFOTVNUXVSPRQOU[WRXW\_]WVVTVXWRKOMMPOQW\YTVTPVddgd^WPPTURLU\_XWUWUKKYed\XZZXQORVZYVQRPHHSZ_\VOT[^ZTSMNTSLRY]^ZRLRPLORRTURLFEDS[\[TVWTWXONMKLNNKHQ[\YSLIMQRMOTXULP]eca_^]ZQLQUTPRVTSPR\[RJMPOPVQGHY]VU\][TLKMRTVTTV\]VRTSPHOVUJGPSTTUPQRPOKJQVSPVSPOU]\[ZWRTW^c`XQPSXZRMOSOKPXZXVUXXQQUVZa`YOYWQRQTNOVXVPPTYYULHLZ[TRJGLTVQINSWUNQSNLVYZTRRVaa\][[^VPNLTXSIG@HPVPMMRRSSOJLMNJHEI\d_TV[VOFHYbb^ZODSVOMHIIJMUOPUWTPJMMNLHGIPSUWTTRMKJLGNNJQUU[adaSSWZUEGSRKDLVSHLIK2?A,6?BKOZ\VOKUNCBJR\[WQQRVRONQLJOMLSXZaa__ZVX\WTWRNPSU[YYXYVSO[^ZXZ^`ZTSXXXZZcg`^Z[YSPSVXYRTTKOTWUOPROOW][SNMRWSPQRTSURQPPRUWSPTSQV\`^]VOJNPJHLSUORSJNMIKIGHPSPV\\][UQRKIHMQUQTXa`VSVWXZVTUFAKUWMFHKRVQEKONOWP@EOGBLRSTPJJIQTFCJHIMSY]X^^XQQTSPPNPNTROTXPKORQY]^]]YWPNUZZSNQPKMRTTTRSY]VPWUONNPQQSQOGGQUJFJKJMLE>BEMUYPTSWUJGR\^`[NX`[ZNFILLVYUa\DQP@BRKD88Te\]SWURQX[XSQJLIDKSWQNVXRW\``^XUWYYVXYYYPSYYVQVWOMVWKIJLIHLPJIKKPNNLOTRM]faYY[VLHIOSVTUUVSOSVZ[ZSORUUYPTVRTWVPJJLNPX[VSNUXWURLMW[XWXSJFLRRS[XXQMJPSWWSLDNWWSSUWVQMU\YWXQGOU[ZRGMSRT\YQQXVVWUYUMNTX[^XVORPNTTWUYYSQVNNRSUUSRTWWUVVVUPWVKKQTXWRTWYXURRUVVXWWWX]XOPW]YWUSQRSOULRV\YVUXWUTWWXZ^aXQWXYXWY[[WTWZ[WNMWUYVTX^[US[ZWU\YXWZ__ZXYZXTUXXTSWZWVRSZWXWXSRRUTQVUWTXTOSWTTUWSXUYXXVU\caZVRQKJMPRWZWUXYV[^[YVTPMOPYadfdb^^]^^XLMTYVOLW\[TPVUSUNNRMJQVSLSQMOPOTU\cb^^aYRRPVTZ\[Z\[VUWPMLNPPOVVTXSSOMQSLHLTVTPNPNJGQZXQMOOMIORSWWSOSNU[ZYVXUSV^XNNMHQVWYUTTOTVWORYZ]][\]^WNIHLSQTX[[WPS[_\RTVSNPSW]]\VURKGMSUYZWIINQJIISUNJJRVTUMOSRNWa`ZYTQRVSQUTU\__\XVLGMNU[[YYSQSUXTSURMHJQXYNDKQWXZ]]^_\\[WSU[XQUU]`\SRSSTXVPV[ULMY^\QLLPMTW]XYZZYZWSUVVNKSYQKUZWPE=HLHOUY[WUOMOV[ZXVSLOZac_ZUQRVSTVMCBHQMNONPXWZZWX^_ZVVTPQTX[TTXZZVX^_ZQDIRQLJLDHNUTPSV_]ONSURMJRVWPQVYUTTV[YVTGSYXURSOSZZ[ZXVV^\SSRONPNNU^^]_]YQKGOQNLOLMWZULEILRROMOTSY]\ZTUONTSLQVVNPVXWXRUPMKOQQT\bfZNKMRPKPPMMWYYQSW[GQPCP]^SBERVRIJRQKIKMQSPMPY[XUSSOMMNNQVUSPRWMNVUWYURTSUSLGMNQRQW][NMX_aZQUX\XU\d`YMGLMLJGMSUYXUOPQNKPPTSX]\SOJNVYXUSNMOSRRKINXVQWUTQQZ]\XMNPTTLHQST\_YSSQRSPKLOSQPVXVMEHLQSQVWXUU\[QOUY[^[\^TIRZYPGGIKVYLFGIPSNIOTOIGHGIKIIMY[SSSRLMMRUXSOJJRZWONSXZWWSMUUMJQTX]^ZVUNNOUYZSJJIMPQTY\WV\YRMQWSSQKEHMUURPRQFGHGHMD:;9DNV]_`UFHHDTUXWXSYYWQRBIRZd\NJ;,(4SWVTQTVUPIKVX[YXSWWVSW]XQLGNSPHHTZYVWZYXXWRLILSURTWVPLSWSMINLNPQUYWOECLOTUUWVTSPPRTIEKTRSY\XUPMJIMNPNQKILOQQOU[ZOFKUXXVXZWSUWRVPIPVY_`_[YXSPROLKOTTSSPKKLILSQPU\ZPUWVTWVSQPVVVORTPIJSUW^`WMNOOPNLPRVTNKFFLKFHQWWW[XVTNJJKJJQUVWSMPX[ZYZYTWTMGINNUXX\][\ZYXVQGGLMRSS[WTTW[[XUNLNPMNPPQTSVYWNGJEPUTIDAGKQRSX^[RQUYUNUOTZ_YTG0,>OVSD0+=DL#B@7`baP& +TPXRTQNTZVLNTOJNTWWRCEJJOQRWZSPNOPZ[QDCPTQKMRPORTQQOJKJKRRVWUSVVWVRQOUXSRTOQUXSQPCERZ[ZXONWYY\XVV[[WVWXWRKUUVVUOTZX^gf[NMNILQTZ]]WOOKFJRQKRTWVTMNONPWZZ\YNDJNYVORX]ZVZ\]WQQX\]WUY][YULMLU\XPIDISTOCHRXW[XTVRVXPUVTXXPOUSTXSSVSTXYW]\^]XSPX[^\VWQTSWTXUWVWVWSYYXSTVUVUSSTTVSMRYTOLOTTXXWWYUXXTUTSSWUUY_XTQQTUYWZYXTUY[XPXZZXYZ__\WYXXUXQVYYURTTXYXXVRTUZVVXTVYWVXTUVVWWYXXYYXUZ_ZPT\ba`^[VTUOKJDOXRNSVSUUUTTURPQVWTQSTY`cbZRROMEDMVURT\[UWOKS\[SKMQTPKOX[XPU`b_WT\YZVOOTYVXZUJMVZ]XQHGOTVVTPKOQVZTQJOUTWUTSV[YTR]^_\ONSNRWTNMIFGELSTQVY[[]\XRPQJDINPTUYOIACGIEMSUVV[XUPPTPMIMKGKXXY[[SOWXYWKO\`ZORU[[OCELHNY^[UQPHFJOTWXWUUZYQNPQX]YSXTQRRUYYXUXTONNOOKMOUVSTQMMLMW[XTSSRRTVWOUSEFPMMRW^\^^^chdZQPVRRT\]\WTIHNROKMPKORPMORQRPUTRMEORSQQRNRUNQSWUPKNV\][WOHKXZ[USOPUVQQOLQ][YYU\`dWJJRSLKMNTRTONPKGKOY[VMX\^`bba[TVVZWPV[XWXXZ[QORSVULOV[\WYVSOW[WUWUOVXXVWXWRXbf[PV^^Y[\[[TQJMX\UNKMX_]Z][YXX^\SLNPRW[_ZOLYZUZ\_^^\ZTTVSJJFJOLQYRPXWY^ZV[]]XOMOU^^VVYUSPKMVW^VSTQJLHOMEGQNDDNOS[c]SLMA7B:@LNMILTYVMFMPKLORSRRSQRVUMIFGCCDCFSVVVWRT\ZTNIGORPOKHBAHLKLPTKEKKLVULPSNJPSWYZSTRRW[YQPVYYZ]XRCBDCHQURPLIMQSROPTXRBHHOSSOQSMLMSVQGKNPW]_\XYSPOMKHPTPFFMPPIEJKLMNVWPOTTUTPNOLLQRVUTQOPPPPSXSLLNPOUWQSSWSMMLMQSUYWTUUONNSPNSUQTUTMLHFMRRSTLRY]YUTTPQTRWVZYUQUUPIPWVXWRQQPGMTZ[XSRSVNPNOQNNPVZWSOOPWVQNNNEFMHMX]QFUUE?JMAOckleV=/1RZY>+;@ ):Ybs~{sW21RVQPRLQZWQTXWQKQZZQQSPKCAMTTORQLKOPNIHLPKD@PURVTSQONPOPUTVYYVXVOQMPORVVVVSPSXTPSKFRUWUURPV[\ZSMSVSNPTTUQMQTRWTLPYW]pzwfTVTSPNFSWWTTRJKRSWXYPQNFHOSTWSIMROMRTW\XTUUURXVQSQNQSTWYZ\ZRKN[__`TJIMOVTPRQSTTX\WWTUWWSSVXXTQPWSRVVVVWSVUXY]^]VPNQSWZWNURSQXYX]YWVWVY\]ZXVSQLOSTWWUPUUWRLLPVVU[\XWTWSUUSWTXSVVVVVWTTW[TTXVUWUTSWZ[YVVYV\a_XUWTXQRTTJMRTWXYYXXTXXVUTMXYUUWRUTY[\WOMQTU\YOJWb`\\\\QPSZTPSVYVSNMSORUMLNTWVZXYZWX^`_]YTOIJOTPRY_b\]]\SPTWL>DPTQKSZ`_^^`aZKKSTSSVW\ZVV\^RNMXWXUJIKPKPRUWSVZXOIMTYZYXSNMRXVWZ\\_UOPRUJNLLKSXUSTPR]c`a]]XOOMPMSROQWW\`NUTTOKRYYYYYZURKLLHJNLQYZ_]_ZQQV\^\VV]`\TSWWWSRSWVZ\WIDMPRJCINVXNMRVSQONPYYWY_^TTY[WZVSVVPNPONTXVTTUUXWTLKRYWQRNNQWX[W[[SONJMTTSROQ[blmgXPVZUQMRSNGMTWYVSNSUQIAHLNPUYXYWSOKIOPLMSXUPZ[SKKHJORRQKMOX`YNFGKPSUSTSWXRS\_XTZ\VR[^ZOPOLUVQQTQMRXXVNKINRX[[\\^[UTXVZ\VRXTSNJJLPV]ZQTVWUWYVSPUUVXWY\\URWUNDKS[YQS[[]``UYbfc_cbWQTTY_c\SU\]ZYUQOVWaba`[NKXWYY][ZZXVTWUTTUNFGNTXXX`a_WNRZZUQQRWU^ZQUZPIK@:FQ]\WWNMSRID0>GPHCIBX_cdc\XHEKFIMOI9IRWUNLPSKBDOPRNLOROMQKLHDDLEAIQTVONSSPGID@ADHORJ=DHHU^`^ZQJKRUSJLTUNLLPTRPVVQQRWXUZ\XSYb`SMHIPSYTRRLGOSTNIHMLGCDFJLNTZUPHGPROQPSTQXUTVVNIEFJPVPHKOONHBEIGKNQSSYYSRMLOVVPPQQQJHJNOOPNLKFKRQNUVTLNSVNIKLNPUXWRRUZZURQTXYUPRKNMPPSSQSMDBLQTOUZWQMRSLNRLJQUKHT\YY[YXXVVMIPWUWZ\XPMNVYWRPPXXQRVVOPSIIJLHLLNQQOLRWPGJRYAPdjf^QFCFRQT>@@NG9DNhgkc88=NYSM\RRRWYYVVTTNMVWTVY[XQIRWTIILNKDINNPNKIEDGNPSTPOQSQLHMOMPRQWULINRPPNMQVXSMUYYVJ?BNTXTUUQTUSMNVXQJTUOOQT[ZZSKERWTYsƒ„yjSTMIDJWXRPPSRQRUUVWQQSOMSZ]][TXSORSJPQW\\\VWXPCNPRLJNW^]ZUNKV[][VPLUZ[XTLKS]\SSUWRUUWQNQUTTTSNTUWTX\[[]_ZVYXZVXUPRPTVQPWWVQUTTWTUVUWQQPSRUTQJOXVYWTUWQOVXPOX]_Z\WUVNHIKRSWVV\XSTXXXVZYTQKKVVUVXTXWZ]\YXT]_ZWTTZWPJKNTPNKMV[ZWUQSUXYUXXTUSWTSZ^ZTUPXRTPVWMLX]_\[XUJNYZVTUURMKNTWVVRRR\`]SUZWQKRZY[ZVPOT]ZWW[ca^V\]VPW]UJEOUTTMUTUZXUVPIJOSX^bec]SX`cc_]\YXPLDFLUXXX\WX]WKMUV^_a]YUPHPQQSVYYVRQW][SPPXa_UMLLQSXZ\[YUNNPHQPPNPT[`aZXY[PHQW\VQRNR[a`[VOKSSU]_]XSQUVX[]ZXURPQSYVQSTWUZZYYMJRZXSGPTURKGJONNROPXXRVYXNOZ[VSWRQTSOOJGQNIMSPLPVVNIKKQMKJLVY_^]XXWTROOPNTUSLPX[a]ZU[`aZICMPOX]]YQPMQUWQDABJINQPLPQMIANYTLGNRHFV[YOLBA>?LMSRMVXUEJPNRXYYWWVVQWah`X[a]RY\ZWUTLPTSQUSQRXWOMJGQVXUQSZ`_RKNTY[VYXSMIGHFNX]ZSSWWVWXXMUPPSWU[_`VURVSGDGRVPLJSVXXVY^eegmkhg_RT`caVFPYZ[YSOJSX[\bZSRTPQWTY_ZY[[ZYVSSSPSZ_]]_ba\TGJTSRKNQUVWURZZXTTRPPST^_[TQUQNLMLM[^^fdNLOSdaYWMLHJQVTKKIKHDAHKJFJSULFKRSQQWYQN@FOL@CNX[UYZTONJDHIA@NTQJDDR^ccVPNJILPOIFJNLNLHKORRTQTPHKPWWRLRbaZQNONPNJJPQQNPOPLLQRRLKNKBJY_WQNMORVTQRMJOPTZ^_RJHKSSLJJPRUUQPSPQVWQGSWTPPNMV]ZQMLLGBCIRTQNONLLOPMPWPIJLRPSRPPVTSPJNRSUOSVSRPQUWONMOYZSOQQLFJOVX[[VUUNKLPVRKLTTY\ZXURY]\YXROPTNGNUWXWSY_]TMOSTMKVUUOHPLKLKIMOSRYMLKPJN\]TVVMNOTY_][__[VWUYYVLUZ]VUWSPOJORSRPKOVYYZZUURNKV[XR]bbXUOSKHFRWU\`\b`P9KVTRONRPRPSZZXYSSODKRRSRMNPIGPUSQUXXNNROPNJMU[_^_^VMPMFMKKHJQURNLW__ZUMJORW]a^\YUMRTMHLMLHPSNIDJQVSKJX\ZMMSUSQIDDENSRWVSPSTMHFJHHKVXROQWSSRNBJNMOKJPX\PKNSTVWUSNPPQSWWOHS[XVTRQPTPLS^[WPNMMLMQRQOPSSNOOMORTNKNTPOQLJLMORSSVXTLKLNRSOQRQPMKJKMLVVRUROPRRY\^__RLOTZWTTVY[ZTNLJQWYWW][[URKKPRVVV\[WPGOSSVVX[\UFHRXXVTWLYYYVGFHHHE:FCG\aTMKRAFAIKXYVRJLVMI;RhdS5TMRRKKQVXY^[VRRWYVMLLLMQSVTTROMOSXVVZWSMGHKKHUZYWRTY]_XSY\WMJOMNQPTZbeeYQMUWVSMGHRTVXUOJPWXXWWWY\^\[[\XWSMFKNPJP\frxyq\TGNUTQOPUNAAPOSUZWKIR]`_^WZ\XTRQQOOQUXWWRTYXNBCEOUVTTUMHMUXZVPLLMPSTLSV[__WQQROQPOVUKQVTTUVSQSVTWWSVUTXWVSUWTTWTRPQTZ[TTRS]\\XZ\]XUUWWSU[XVSWVPKVWMOSSUTXX][WXYUWRWSLNTXWVVSTVPOQR__[XTVTROZ\YXW\]\`a][YY\VYVQWXUUVVNUTVWMXUYX\]ZVLNUUWUQPUUUX`^VU]_\YXZZPINSUUWZVNNVYURW]]VXVSTOJLPRXW[][TOXZYZRLLPQW^_^YLGPUSHU]\XYWXUXWTX^ZY_d^\]]WX\deed`_YYafd]XUSVZYRTWYRHJPYVQRTWURUSPJBJQQZ]\SKNXX][MPUXWPJOOMLQTUTPPVXRKMUTQPW\YWTRSUNNIRZ[SMRUTQT^b`__^WXVUTTME=7DOPLJPZ^\RPNNU\[^a][YMAMRTOKLIKPTTSSRTSNHOZZW\ZUKJNORPJEQXUVUQVTRY]ZWXWVRNMMNKNLJJIHRXWYSSZ]YUWYTONOTQJQU\adc^\UYaf^SDIPPQPRVTULJMSRUWSTRUVQRXVUOMJGKVVVXTTVRRQUXVSRUSRPIJRQOLMRTTW\cb]TGGTZXRNSTNIIKQNLGNPWWWSTVZWUUYPLPMNRY_[WQTV\TIQWVUUTUTURVTQGKMPUUNJFLMWWRKNX\ZSTQI?8AEHTUOPQUVNNV[Y^^^_``\\\XXXZWTTOJRXZXYQLLMKSUPSY]\VUTW[ZWXYRQHICHQSNOQSPOOVWUZ\OGIIITXNORXQKOMSPHHNWX]ZVSOGNTXNPPOSVPKVYMC9INPPQSV]\UPTQFPRNDKVVQOORQKQTPOJMROILLJLOOQVX[ZUPSUXX[XXQKJQY^^YYNDEGKLPQNNPSOIGITXUPO]cbZORSSXZSJFJKIKOPQRRKCCCDKTWQOY\[^XQHHPRUPMJNWZVMNLPT[[ZYTRPTWTNMMRXWURSTYXWTTWUTTQPTSSOKQRVSRRLFEJFBISRPRQPNSSWTTXZZYVPTQRUPPYXURRMMKRZWNLOOOIGNQX_a[PSWZYRPOTYXQMSVXYXNQZZWWQMQRTPQW[VTPMG@JWZURNTQQOPSRQ[YNQVVVDNNOQQQKFVZO6BBNU\\XP_UNQIHUJ^[ed`abg\A<UQNPY][RPWXUQORMKOPNGJMKKQQOIIJMTTSWVRQQPPOMJT\^[[\[YTOUVSEGLIRRKPRXa`[TTZ][TMJPVXQMOOTVTPUWXY^\Y\\YXWWPGBOOEAKLXl{€xgTFPWUVYYTUNGJKLOY\SJN_da[XWYXUORROKPTUZ_ZOSSPLPTQWXZZREFMPOPLF?BG>6EPQ::9GIGCL[a\]ZVQPPORTRPMNWWOW[XZYWWQIEGLPRWUYZTUWTWSPNMLOX]RIOWXSONYWRXVYYXTKR[YVUSRPOQSUTVZ[TMQVZSSV[XZ[THJGMWcbZRWSKOVTTRLLZ`[UQPNRWURUPLJQaig`__\Y[ZZXYYWQMNJSYXPLPSKLRMKMLHLUWSSQPRURSYYSNJJMWXPKSRRPNWYVNQU^a^ZYVOSWZ[Y[WTQOOORRSVSTPPJEMRSVVUPRUXQLXZSTRQOOJFDJH\jsrm_WQRROLQTWRPWWONW[ZXXXRHA@HEEOW]YVUSRLORRUX_da[TOLNNKMTUUWRU\^`^YSSOJJJONFHKQRRPQRQRRRRUXUQMJQZ]VKNUTHAEBJNOMNRTY[]YXWYXWNOQPTSRSSPSRUXYVTSNHPSOJOOTOKGMQQRRLOTWTTWVPLLIEEDFMMPY]XVZ[PILPJNRVZVMJGBJGLRWWUURJENRNMOKKX^[OFMXWW[TJMQIGFOSNMJOKLOSXNJSOSUZe\^ZVVH?SRUH?K^UGGFD?98EW\^aVRTVTRUSULMWXWMGMQQTMHHMOOZZVSRW]a_]X[XSMOVY]WOTUWRSXWUQLGRVGDNRSSPRTRSSSPRPRTRX\YW[\_\VSULKTTRVYVQIOTMCLNIPVNIFEILORPSYZ`^RINOTXUWQHOMKI@CIIJNKMQPJHJNTPJPMJGIJJQWZ[XPW]XWNEEGR[[YTTQRRLORRTOUSLT^a[SUVUOMLSTSWY[VSSSUPNLIOXXRRNOVVRLLMKSPNV]^YID@=GOSWTQTSLQNMQVYSONQRVWRGLLRRPMOZ\ZZ\YSOW\ZWVWXUNTRJIU^_UMOO?P[V\WRNPME4EDU\\YPI_Q07VO0UelJ7UaBS\]WRUWU[aZSLKBDHMOPMHHHEKNNNQNMRRLIKRQQSTTQQHGGJHMXZXVUTTYZQHIEKVYY\]XMNTTRPNOSWOQXXSJDIPXTUWTSXZYTPIOQPKFGHMRSHP_c`ZNPWZVNFACSW[YRUZY[[UJPXTNMJNSROGPVUSTZ]\ULIQRJMTVURMILUX\_a\[WURMLILNTZ\XWVZ^YXZURWTWORSPPTUVYTTQOV[[WUTUVWVSKTTVSUTSSQVRUZ]YWSWYWVRSQRUVNLNOPUUNMRPQUXZZZTOOWSUVUWUSSYYTTVPVSVQSWZ_[WWYSXXTWZYTUVTTT]bc]ZYXWXZW]ZTQRWTTVXXVYWPRSUUWUUVWXYSXVUVRVXTXUYUX^[Z^`^__]_XTUQJLSZVPSTX[YTTV__`]XSYVPOOYYRVYWIBFDCFGTZWZXQU\ZSQTUQLLSNHRZZWSROHFMLPVXWZ][VVZYUQNURPU[YPEPVVTEU[\Z]]Y[YUSRYXTPPSVUZXUW[`a[SNOX[YWTHHTOKCIJQ[`WPRXPMRUTYZWPY\VRTQDIVUOGKPWY^a`^dec]_[TWZ[RPPW]^_ZUWZYSSTUQKFDJNRQUXTRQRVUWMORTOKMOMKOPIOV]VQNOSYZ\\ZUTZUSRQW\\YY\ZUTTZ[VKJIMNX]YJAIQSMJRTQORPLMQTZXTKW_fhhfb^^[XWZ^[MSXQJLOQVUSLJNPOIKTWYUTSONJMQSQKIOQXWTTVQMRLLHIPWZXZXRUUWYTPOOLKHQTTLKNOGHOSQRWVNTZZWTXVVHFHJRUXRPNSWTRPMSWZTOMQNPPSWUTXVS\`VPNNNPSRRQMNQONPTRNT[_]XVY]XRSUNDFDIPSQW_\Z\^XX[SFAMR[YXSJFLLKUXVVVWPGIOPPVXY^`]YSPSQW\XOPSMIT[VOMPOOPNNUXVNQQWY`^[UPRJHQXVQA9E\`_QG?DMTRTXYY]]TKOSVSSSMOQNKMRNOGEKOLRSVUVSSWY][_\WIGLNQVUKQRJMQUTSSPGJOPSWZWUWYTTPQOGCCJLMW]][[][WOGKF@KPTWVRQKINGIRVUQK>CFGHHINJNRV\^XNIMTXTJIKHGJKFMQIELRRSMILQVUQQTRKNORRVZ]]RNY]^a_VJLQZ^^[XWQLORQNTYX[SMTZ\WSQSNQOTQTTUUWUG@GMRSILWYSNNOSQOQQMJTY[[[_VLMSPJGPX[YVUSVTVWXYWQRROLLKHMLPRSPHPZWRUULHNYVTVVXSS]^RFIQPNFFR[dg_OLNHE<,I^\[[SWQQ_jWLS16oumeiiT$\Y[WYYOPW[XQNPPMPPSOFHPPMJLKHLMSWXROLOVYVPRQPMOQPQQMPMHFLRVVRNKNOLPXXTOINPSLMSRMFFQURPOLMPRXSRY_[SMOQTVTSXWMLPNKSZ[XYTX^_TJEKIINRSQUYTOLNIT[XLGGDJRSOTXVUW[[UNGBQYZVSOSRQNLRV]cb`[[UNLILJTY^VSZbdb\WPTWTVSVUSRTUWVVVVQPRSUTTYVRRUUYXWUXVUSRSUTTYZWUVSSTPQHHPVUSNMNSWXUWVWNPWVZ`^UWRRKJSRSRUUWWWUSWZWSS[ac`VSQOSSTVXYVWXWWW]bdbYWWXUV_``WWTUSSVVTXXUQUXSQSXV[\\[TSVTUTXXTOSUQ[XTX`_YWXXTZYZQQTTXYUTUTVSOLVbc][VVWXUPV[`b^YOLOTQOUSWUX\WTW^^WTVZXSTUWUVY]ZXUSORXXVWUQVXSTUX\]TKMPLSVWPNSSTVOOWZ\[VQRQQQWWYXSQOKOSSOCGPXXPLOTVVVUQVZZTNNMPX][UPRYWZ^ZZ^WRQNLDVTIJKLKNSVTXXUSRWdihb[Y^c`YXVRXYZ[Y[XVX[]UQPSSSPPPVZXUTPHJPV\a\WSPXUOVUSMTSSWVPNJQTTNNQXWOPW\a^WV[^]VQVYRNRXXXY_[SMPQRPNLJJNMNLNNPRVURLUWWZeiklke]Z[[RPQMLTZWW\\VNKRTPFLSTTSRSQPRQQUVRNMLRUSRSOTTPZURKDGX][ZXXRUQPQTWPMVVURRQPNHTZUOVXXWZXWXXXVRHOSSQSRQSNKMIHOV[\ZZVTURMILJRZ\WZYTQJGIOUQUPQMLIJMTTKS\_ZNEKTUTZYPDGJKNTTNQTOTVWadaSQRRRNOROOOONPQNRYZWPKRTTTTV[\\^_]VQOOMJOOMLLQOMMMOUTSORWURTPKNPQQQK@8CGNWOFTSQ]XSJMX\YO[TS^^TQMQIMQRLNS[YTLGKQNNPQXX[ZXRMONQYa_YRNMLOPKHJPPJOYXSTSMDILQTWTRZ\UX[WROJGEIKMMOUWXXZYPKMT_cb\SOTRLGCBMUUQLKOTRNFADNPLIPXYWQOLLKGLRMDHKONPNMOVSOLGCOYWOQTVPQVPNGMUWOORRRX[YXVWUWYXW\[UOLIJPVSNILHFPX[WX\[\[Z[[ZTVWNJSROMGIWZWSSVYWPUUOFOVZTMSWKES\WINV[^YSRU[WRQQOVYXK@INLHLOV[XOKQNEIHIHRTVRMX\[XVYUQCFLLHT[YXTVOMKAFJABPSJGEEPPLOQOSSMPTXZYTPQ^c_SUUTY[SUXQPQSUNQSTPTQKMLIHLPNIRVVXY^^\OTE;EJFFVUQPNMB=ANKBN[]\\\YYSQRLFRSRPUVWTMOMHMSVSJJLQOLTVXWWWZXUUMOW[[WVUTX]ZXWPU\[WLMMMJLRY[WOQXZWRTZaca^ZUNNMHBJMPUWRJNTWTRWWSMMIGGJNQV`_^ZM@JVXTRPI@FNUXVTSTOQRY[WWVROUVRRRURLPY[\QQSPTU\[[WROQNSTRUVPVSTSSNIILVX[ZWUPOPRVVSLNMNQY\QIMNPV\\VPWUPQUTVTQOSUVTTOJOPMRXVMMOQTQQMORY\XNKMPNKRTUTWX[ZWSPTSSTRIFHCHNORTYRYbbSMN@HWHCEM[^UH@EWa]QQWQMOEDDHRaWB;31YpmelSXYYYURROJOX]a^^[ZZXUVWTPQONPORUORVZSSRMMSTSWSPTWWPIRQHIP[[VOSVOEPRV[ZRF7>JLQTPRTPKJR[[TRSWXWX\[TMOV_acXUWYVVTQLNW[ad]QHQX]^YNMQW[[WRVZQRPKQW\`ZSNKNMQSSRX]ZSMUZVPRWZWZW\YWYTSUVWVZ[YTQZ_]XQUXZ[]_]VRUURUXVXUW^[\]YVVTYYVWTYXTZXWUUROMNTVVVYYUVWQWWNPMQTWTVUVTOPQTUURPVVXWVQIKRWRLOMLRVZUVRQOOPTVOOUU\ba[VNPYXUSSTUWTMNWTYVVTQV\][VVVMKMWWVVWWYX[VQTYWWTT\`]\WWUURPLMMRXTYTTXJKNNRWSNY_\[\_\\]SUU[[[YZZWVZZXY]__bc^VTY[]^[UHIQSRWWUSPMLT[\RRVPMRZVSUTNOSUW[SPRWU\^YPSVZVMLQQLLSWWXSQKHOOOPNKRRKKLNSROVYWSTLMWXUXTUXZUVWVQMLSX]WRZ]XXVYWPGLQQOPPQRQVYWXYTTNPW]YNHGSYWVPTQFJSW[abag`RPTVX]]__b[[[TNSSOLQXYUIGKIHNQPKFMVYYYYUXWTMKPUVMDIFFLPSUTSOGMQUZ]XY[XUVNKNVXQPVWSXWOMRPMSPBKUXSHDPTSQQKIOQNHJQUQPQLP[ZZ`c`bfg`WXVNQPSX[SQORPMNQSQYZRRVUXVLJUUSPTTXUUSSSOQON_mmh_YUJCMW]^ZSMNNOWTV[]WVY\UNSUUYUPTWWZWPNORQSTPNQQQSRMPPVTSKMUYVYa[VQRTSPTNCMVSUMPKKOLPRWSLGEGMUSPPNHIPVYZVSOUTUXQOQOQDACPROUTONLMTUQJNGIJMSNMPIEFJQJDLOHHOMVUOOT^e]QTY]`WLQQIJOVTMMKGIMKNUTPGJPVWS]ZWTXXWSVZTPOWTKULKMJMNYTROLNSVRVXQNRTMBHIPRV\ZVT[OKKLMKFBKRPKUY]^]YSRTVRNPQQ\a]W[`ba`ZZ[YXZYUVYWY]`VRX[YZ]]`cikhf`RDGIFMRQJPROMRPLJOUYSPLNOFGJV\^\]VPSZ\UPNHHDQWURQNMLMMPWRLPQPTZ\XSPOIQW\[]^a[RRPPNTSPOPNNRXTRX[VUWSFCS\\VSUXSNNNORTONRLMRZRLPU\ZXTOORTRUPPSURRRSOOQPGILOY_aZXSUSPQPPOX]XPORQOQUXYWW[]YUQNOUUUXXRPMIJCJUVPT`_T=16ES[YPPW]UNHIH>;GQUTTY[RPUYXXWUU[ZWTPPQURJILRRUUTRPJLWXYYZSSWVRKMMHPRQPTRNMPRQSW\_^YWW[]`bjssph`WPRNKGMKMLOMMLLKPRNILMPRMKGOVXZSRV^]XKPSSTHHLKI@?DEJRRNOVXWNPOMMLMSQIJSTMKPWUSTSTUWVTSSQPNMMQUUPNMXa`XRPX]ZVRKIKJILHCHNKOUTKPRMKTXYSJIRQRPUXWQNJIKGDLXXNOQW_b]TOLHGNQHKRS[SRNOX\WOTZYPOJNWXTR[]ZXXTXUUVUVUMEG@CMGKD:;AAD\`X3>HOJH=PZW?HPcf[D*.\cXL9F[^a_\VWWRHO[]^][XSSWRRUSWZYURQRV\ZXUZYSLOSWTYY[VUTVSSUONUYWRNPQLOPQYYUVVRW]_ZRPWTMRX_gfaSQMECQZ[UY]WSUX\aaVU\_]YZXRRWXXRHCMRRVWTTUUTUNSNNVYTS[YWZXWXTWVXTRV]]XPJGDKRTURSUTYURQWZXVUTNSXVPRWUQU[ffc]VMNWYRNOPTWXVWUYZVQRUUUVVVTV[XTSNKXUUVURTWX[[YXY\_[WVX\XWUVVTWVSTX]WTSNOTQQWT\VQUWZXRSTVWINTWURWWXW^`_VOTY^\VYYXVXWZ\WWVYZ`_ZXUWTVUMOTXTYUROTXXTTUSSSTTTUXWRRTUXKU[ZWUVUUVYVXSRPOQPRVYRKV^]\[XVMN\`^XUYVQJS^d_VU^a`^]ZVOHLRUS\`ZSUXWSWZV\a`YWX_YUSUVY[SIR^c]]_`_\]\RHPYVMMKJBDKKKSWRMPRVX^^[WPKQRLNUTNQVYZSPV]`YNMU\_\YZSSWYTRVWSWY]ZSRX]\\_^]WTWUT\ZMVZVMM\`UMUVXSROSXW[_b]SOPW[VUTOSXXXWUOLFHHFJJIHIW]\WYZ\YTW\b`]ZSKLNMPRPMRNLQVSUUPQ\b^\TPSWWOOUUSRWTTWWYVZYPPSQQVTWVPJJILNP[YKBAJRPHHIGEGLVTREHRPPNMIIQ[XY\YZ^YSOLMRLPUTPTTTX\YSOSUUVPQUSTXYWUUNJMSSS^gjmnbFCIUW\TMFPYWPOIDNNP^c`^XVNRWUQ]_WJOTVUWSPPORWWYVQKJRWWNJOLGGJSY[WP@FBMNFBS[XPNLKILSWTOIPOQZ[YXWSOEHNY^]\WTQMOSSPJKTW[[TVXUJHPTNXbc]TUXWYZSPUZZTMIGDDFFGELSWUQMJMUX[aefb[Y^aa]WULMSTSSTTRX[RT][UMT[]REEFEITeTNIGFGPNQY\YUOKRQKGDJNJIGEIV_\QJKUXX[YWZZZZUQSRRFBFHNPSONKKRPORVXXVZXRMQPGPUWWXVROMRTTX\]_^__YSRR`lonmjb]_[WWUQIQTUMKNPRPNLNOOROIAFKNUYU[bcWIJQ]a\UVSMHC?BENVUQR[[XSPQSRSOQRSWRPMGGLOEGQQSQPQUXRLPPRTUNLJRZZW\WUZTVRFFGLORRSSXTS\YVSWNORNONNSV[UXVUPNPNMQPEETWNQYXVXWSSUVW\XMSZWWVNLLNJQSW]XQOPLMSPPVZXYUOSTOQX^ZNHLOR[WTVQW\QMIQQH-MSX]_WZVIHRNUXI?OV]dolZM&.n`c^XYZYRDMV]\WWPJPVTQRPRVTUROQUZYRLOW][XTWUVVX[XQPNTVTLOSSNLMKINTUW^\VRROZ]XJITUQOX`egc[RMHNR[_\\[XUW[^`_VU^a^__^ZVUPMLTZSKGINTPVZ`^ZTSQ[[[Z]]ba`ZXVX[YW[[[\TMLLKEJOQUVTMSXZ[TVTUYZUQMNNNRZ_\\cb\Z[RMX[TSTRTWXZZ\\[[YUTVSXWUTRSOLNJWKQXUXYYVUU\ce^ZXXURSXSPTWWXY\]\[YVTUWXVPKMQRTTX`ebWUTTTUUNTUXUTWUY\ZTVUZ\^Z\[[YTURVXWSVRSUUTUVUTWRTTRTSWWTX\WSUWUXUTWWWUUWNLNNRXY[YXQRYVXZZTUZZXTUQTRIJWZYTNMNSY]`^\ZTOKN]dcYXV[]]YYVTXSLFINTUWYXQLRZ\^][ZWXURTUY[]]TDPWX[[[XX`b\RAIT[[XXVQFINMPPOLHPQSZYTSTJDMQVVOIPX]XOMT_`VRWVY[TX^[RRZWSTUQSSUVTQUSTTV\^`\YTSVYV]_WMGR[VSVXVVVMV[Y[bb^YYVVQR[^_][ZXYVPG@CLONLRTONYOKTYXYYQRX\YTVRMIGFKMQWTNOQTVTOR_ca\XVRWWOQX\``\TTX]^[^YQONHOTRPKIHJPSOFSTLOMQVPKKEEDFHNPCEMQORQOTWYXZ[^]^^YUUWURMV[][ZZ[]ZWPNOSXY[TQNS\[UTSZ[WSSJJ\o|}s_MQWbb\K@HPRPSWROVSX^^ZWUSUWUTZ_\XUUW\^XIPX`^WTVQLKMTSMNTOGCGJVVVUSJFKMMOQY\TTTPPQVWWUNPTMPXUXVWUUSQZbe_][VPMSUUPRQRRZTLKHEGNSSU[\\WSNJPWYUNRVTQNEJMJHINPRSSNJNNMOPRWSRY^bbaVW^WPW\\a]XQKPUVWXXLGQVLQLINPWW<-6Q^\[VZ\W[a`[QSUOEQTSOICFNVUXWS[Z^WRMLRQPLKRTOLKGGEEGFCBKPFFQVXTVZWOPRNJQV\\SSSQSRRSV]`Z[``\SORSZ`dd`^^]_^]ZTPPURFDKRRQNGIONJJKMMJJOQNUZXPGMLYba[SVUQGCHLJMRNFKPSXY\XTQQNPVUTTUNKPLA;BHFNQQPQNRUSPOMKPUTWSVZYYXXV[YXWYX[`YWVWY\\QNQPGLLJJKMIMTWWL@BNURUSHEOSPW]\PMY[\_]YYQHJQPRRNPURJNW_a^MITUTWQJOVTQTWZZWXZ[XPLVUUTSOOEJRTPB:GJQUVSQYWRJGGJMQUPLJFLLGJLHGLNUUVUVZZQTSSSTWZXUNOMKFGKOKIHOSTPMKPQZ[WVTKNSX\WXWWSRUX]\YTQNRUVRIGIJKNTTMKIMT[[LCISPQLOGALORW[YMR_eefbZTICMOPPONRUTRKQWYQAGUZVPE@AUVSRWVZSTZ[][XOUVTKHGH==BQPF??KBK?LUYUOIHQMIN5HMQWXZSMOQORXXRSXXRY_]WPMNOV[VSUZWTMVVZ\YQQTUVTSTQWTVWTLWWVTVRPVUUXU]YUSRYYUU\[SSMRTUYZ[TQRRTVWVYTRWYTXUVXYYWVVUWW\cd]SQIVUX\VYXPVQSQNRV]`WUQUZVXVXW]_YWRPTWVXTRTTURPQNQVUVWVWZ_aWOTXUUZ\[[XW[X\][][YVUTYYSPZZZVOSZ^b]USTULIFKRNPRRVVRW\a`ZUONTQTZYRTPMOSW\]Z_`_`\\[UUY[U[[YWXWPY_b^ZXVXUPKPZ_]ZVUOSYWXWSUWRQRQVZUPIHRVVVUWWYSIDNRSW^ZSX\]\RPRQFDU[YJCKPUYVUXZ[UTRLMSWYVUNHV[XSY[XPJKLQTOFGQX^]YOOMMNMMRVRNLQSUY^YRWW]\WSU[YOINVWVRSUYXXRNPTWSOJLSSOKLJJRTKDCKUXWX^^`WU^_ZZ]\]VRKNWVOMRMOPOMTZWQQHJMUTQVXWU\_][W[ZXWVPJHIRSIOSQOPOGJNSWXSNLMKTWSVXWMGEPVUVSY_b]^YVXYXTPNVVSWXXZSLKSOONRXUcopqoi[ROMD8AQY[^]YOOJMUROQTUVPPJJJQ[]X\be`VSUX[\^][WYSUSVXTSQGIPRUTXRPMMPQX[^XNLTSTW[[SOMPQLMQUY\WRYTJJU\\WNUVXYZYUROHHONLMPQRQQUXXVOLKR[[[RMQKCAFJKJNKLTTQNPKLHJQTOMJJHHFKKMWX\heaZPSWPIMSTORXYRPQPKQTSQXYRA.3TGDKYZQKMOTb_]JFHGQUOVYRT^eb`ZWUUNM@CMUWVWTOLNNQSUVSNHAAGLPXTMHNUXMQXPNRVUSRRSUTOOSXWTUTXX`efcV[diie`]VRRXYSLJNQNIMQOSOLTUPMNKHGEGMPQQNMNQTPPOH?ALOQJHJFEHHBFLMQQNPPPV\]XUVRNPUZ\XTSUTSSLHEEHOSSMGEEEU[QRVXOQ[]]QKBHPW\\XOTTRRPORPNLLLIJPOPOLS`b[NPXWTRUPDKNOX][VSX\]^_ZRGMVXPIKMPORRTMJMLJNUVRILLEGMJPWVYTR[]XYWTSWVTOQG??IWTRHGROPE=>GKDNK?MSWT+KQTQRX_^]YSPLOQTYYOMJRTOMTSPXZXWTLCS\[WSLKKQ\]ZZVUUQQKCGOWWXXVQUYWRTRSZYTPRXSGLWXTJAEOWSSWVTNMGOVURSXRR^b^SLQSY`^UOSTUWSPSSWWWRV\XUTTRUYZXUWRUVVTOKRZ[WXWTSUW]`]XVTPTUKUSWZ[XTSSOQVQJVIUTY[]SWXYY[]XSRRYXURYUNOUVVWVSQNSQQSRVY\[\^^UXYZWV\[XXVKJOSRNTUWTRRQU\^ZZYTSW\USPURPTUSSWVY[ZYVTV\]WUSUVSU[``WQNSXXTVXWRMNVXRPSSQQXWTW\ZTSYZTUYZQORSWY_`YMJT\\VQNX\_^ZXXWXTRQPY[\[[VSURJGQ\cgc]VPQOOPUZ`ZMPQRVYUKNORWYWS[YOLNY^XTZ[\Y\ZRMT]^[STTNTTTUTRSXYWYYQOMJSYXUTX[_b]PS\WPSTTVRRPQY^cfc\SHJNPLNRRUYVJJPRPMQZfhf]UOSZVNPXTRSRRQW[YVRVUNVY\ZSMPTOJQVSIFLSUTTUZZY\\XU[]\RMRRTSSRWUNIOSSRWXROOOJIEPZYRQV][TKQYWXPMNOU[XKLQVWYVNMUWYXWRMEKSWPS]\TLHNWVTWXVYYVYadXOQYZXUXXRUULRZZLJPUTSbknojcZRMGGSdhc`a\YYSMNOPTTWWUSVYTS]_TT]`]YSUOHQ[]WWTTPPZYVPLGHUVY[VOOJEBDOSXURQTVSPY`^UVUUWWVUWVUTZ[OLSXZWTRTZ[[[WWSWUQGEHIIKGHQXWQSPGLTYVOLSQNRVYVTTPTWPAEJPRPMRQQOCBGEDGNSWVWcgij\PRPIOVVPTVQLMPXXTVOGHTTQPDDSQZhmfWVZZQQQOJJEHNRV]XMPZefaUSVTPLLNPQGEHMQMQQSMIHHOIAAJRVURKPTUOSYXWYWPPUSPTZXSNKLNR[b`afgc]Vba_]ZYRSWXZRJMXZUIQTORQLKQPNMLKLINUVRQRRQPILX[SLPVVRNFMNMLJJHFJLRTWYUR]ZUUXZYXWWZQQVWVTQPWYNLMI60FPNEMVWY_\ZVVYXURKHP[aa\VTWVRGGOTWRNPIINJPMJR[^_WPTWWW][WOMKSYVTPNJFFMVSQUVVRLOQMJJOSRLQSRROORNQOIB@FRX]^XUX\URW^[UTQGRTIJGI>>LA8/??EU_bMTH5QMLAAANLPZMSN%"*RRGLRZ\]TPQVYUOPRUSRTSKHR[YTZ_`YOQVQNKZ_ZQPPOQRPXWX^^]ZYLC@LMIOTYZ\\XUPQMOPPOFHNUVRSQTUPMJPPUWXZ_^UQPMKOSURMV^baVNHSXXY[[TQTUWZYXTRSNMHMJSVTLSYZY[XVY[WPHNQOLNRTTPIJPXUX[VUWVTKEHPVWTUU]][ZZVTYWQILQUTTVUQTSXUXVWPVWUWXTWVVY[ZYWTPXW\ZTVURTSWXXTSTTJRXVT[bb[VUUQQTTUURKPV^^ZWW]Y\ZWTTRSRRYfeYQSVUVTMIVOSUUIUJUY]daUQTUUWVWXZWUPSYXTUVVRPNQV`^^_]XRXXTSSWSWUWWYVX]^\XUVVVYVST]\^ST]a\UVUPOUWXUNRX`d]ZWZTY^\UUZ[\^__XTURRUVTOY]][YTSUTOPR\bZVUUXVURUWTQTY\\ZQQSWWTXZ\\ZZUOONKKRYWTSVMLOLGHMSX\\\a^WTSU[WVT[W[_\WT_be_TSTV[`_YYZZZWUYXOFNRQOMP[`]`a\OCMQOXXTRPKOW\[\^`\VA>FJQSMHKSTLMRQSRTTZ[VVPKQ]_YSMHO[][YYXVUTY[YVZZ[XRS[YQVYXULIKTXWTUVXXWUQSSSUTW\[YQTVSURUZZVVPNKJRLGOZ^\UQOVZZX]\XSQLKTURIGDDIPUYWUPOWYWSUSVQNOVZZVVUUXYPKKFKNHBMZ^Z]bhkfa\VTXVSUYTLPWXL>P]^fjhaYNDM]gkha^WSZYPJJNMMRV[_a`\X[^WINTYTUZZNR_^ZQLOXYZZUOJFFTWX\WIKQGDIPTNPIJJFILNVRKINMQUQNPMMT``YORWX\^`a^Z[]_\ZV[WLGFBEPNEHNSSVWTTVYZWVWWTUWXWXVRSWTPSQNPPORUQNFBFKNLNQOPZacdcZTSW]YUUYXNIKNN^gZF?=HNPGGA_ZH^eed_XVPKOMIF6:RW[Y[RLT\bWFLSUZVRLGGNINTVTPOPMJHIORQMDLUSPSTQLKNVVRSPLVWPV[abb]RNQRX[[Y]_VJPZcce_[YVYVQLDNUXUPSSPQRVWYWNJLOOMRVWOFKSTRKPXWSNOSSUROKTUQKKMPRUUTPOST^^ZYWXSMMQTTVYZUOOV^\OJQRIKNPKNKNMW[WQQMMVYWUYX]\ZYTO[YQCEJSVTPNOOTSPSTSKOTXSPTQPTXXWJHQXYTVPGDLV]]XTPLPMGJSROPQRUSRQKGQWTOJDKRUVRORRUXPTXIAIQPILV^_^\Z__]XWXWYSLORRWZTNQVSILRRQTW]]a[MLXTPTTSVXUTUSS[\]^\XXX_b^VSMFGHEJVOBCTUVSWXWVVSSSLMIJLKLPNSXVUSRXZPNQYZ^YSQJFHUTNCLTYUTXVRNTW[VTRX`[SQWYYQMIQXVVYWUVVQQPLOVSHINNMJJIMTTX^[W_ba^YTNKOU[XRVYWWUROMVZ[TRRMKKHKRRPQWTROIIIOXZXVTVSLTTPPSSOTYTPUUNOQRPUPVXTQQQNPSSLOTYZWMKLROJGRTTPWTY[[\XTSQZffYH6$5GRX[Z\^^aSE5JZX=)JPXBAWUOLNTVXXUTOONNQQRQSUVLCQVWYYYVTKNRMSXUVX\YXVSUVPJNOUY\[[\ZWWUV[SPUPNQOOWWWOOHENX[ZYZVWTMF@HIMSSWVUX\UHNUXV[VNNQWSPUYZ_`_YTTSJIRUTQLMKNSQUUUNNNQSUQJNSWZ]ZWX[\[aaZTPNMORWUQVWWSX[YZ``[YQIIMPTUVTTOMOLOPQWV[TNPLTSWTUTWQXUY\_XNPVVUUXUXVTV_`]YWUWTTQTTRTVPTVXVSOKUVTPKVUW\VXSSWSTYbdbcec]WUTW\`^YWSSXXVUURTIQTUX[ZXVVX\[]YUPRWVROUUSRSWRW]`XX\ZYYYYSKWUVSTZZWQOXVZYSUTVXTPRVYZZZ_XVWRIKJKT]`_YX^de]WTPPNU\XVRWYUUXYWUKHKPPTXYZTIGMSSQV\]TLLSXade]XQSWVWSW^^WY_\WYVUV]_]``YQQRVVVPFIQTPOSSPLOSVZVTVNHRQTQIJMUTTZ\aa`SW\[URVWRJGFARYYQILLLHKTXPQUYWYVVRRSWQJNLRXYWSMQSSJJMI@ENUXSORSEDKKKAFRYVPSYVUTPU\_]YWSPMMQVWWUSVYTSW^\[TW[VOOUTMNUUQOMNRRQTUVVUXVRKMRVY[\[XXXUPNOOMNNMJKNNOPRTRQJHPUXPLRVWSPRTTX`b[RKPXXROTUTQGJMRRUWYUWWYMIGCJLORVONVYQXaghf^SQPY`^_]YWRTUSY]^dkkgXKS\gnm\RHNRQTSQIKSSOSVQGOUWXY[XUU\^^VUWUXYZYTVXWVSLGOXZWWTMJMNUWVPIMURPPQYTMNRSXSKLPSZWSUWYPLRXXYZ^_`]XOKKMGLRUVXSJPSRTOOTVROQUYYZUQTVQQRVXMJRNOUTSYVONQPPVYRJIENNJGKJDJSQNTVUQQUTLR_hid]`Y_YI5FOFDKVYZ\UU[fdaLT^YTTK@CGFLDCJNVYWZZUNSWQNGOOSUSTW_[ZTRNMKRTRNQVTTOOLKMSRTQUTTXZTVWSNNNTXWRRTNNRPU\\WUYWVUPJ@CHJKNORIDLRUWVUWTQOTTOOOKNLHLSTTRQRTXXXVPORWY\UNEENSOOQOMMOW[WSQPTSMMRY\PHKPPRQUXWTRUOQSSPRPNOQMOTNILKIKNPOLTVOPPY[WUYZXU\\WSSQQRPRPR\^XOPMINSUWQN[\UNIINRMTVQOJRPUTSMKRTRX\YTUUTUVOUUYZXUQORRILYZVNPXUPRTURHEQSK>EYXVY_`ZSRVZU@@DF?&/PWbeYTRRTNT__VG5@;:ETTNNONKMQQOLEKSSQQSQTQCLXXVXUOSRMRWWUSNOMOOOMU[ZYXWXVXWXV[_`__\\[[\VLMIMURJHLLIRTUY^d^]WPPNNONPTWVVWXUKOYZYVUEANRTY\[\X[cgd_WSQQSTNQURPTVMOTTPQRXVTJKTNOPPKLOOSW\^[WTTRTVXVONNNP]`_^`]WNFMJJILQXW\VRNKQORWYQXUSRSRTQPUWZX\[VKRVVXYYUXVZY^\ZYUUOSVTORRPLKMNTUVUUWXZWQRQUUUXWRQUW[__\\]\YXSOLSUSSTVVTRUUWUIJORSSVYYWVYYWUURRWX_YZ]^XUXVUQTUW\^XX]_[VWVVXTX_\YWQVV\YUTTTVVQTWTVVWYWYWQNRRKN]]VSS]c^ZYSLPUYZVQRSRSWXWXXTNMUVUPMONJIJGKMSWVPKTZcdecb]VWWTNJV^ZNLQPNUYXV[WW[bbb`ZUXWQMLNPOMTXVVRTXUSVMLRTUSTOKLPQKOTVYYZZ[\VTWXYUTUNPU\UNNRTKIOMMTWWVVTTQPNVWTMKU_aXMFIXVQQKHEHJY_a[YVLJNICJQXSOOWUPTTTTY^_\]a\SSWZYZ^[\\\SLOXZWQXVPW^ZUUUTTRMRZYXXVSTPTSKNVXVQTVQPY\ZUX\YRQPIEOPRTTKGVVRPQQOPKTWWSNHLQVXUVSQVXXRS[\[YVQNHMPYa]WVZ]X=IPWURPJGHNY[VUY^a_`[SRVUXYZYXTURPJH[fnme^\Y]nmjd_VQMKRVPHEKJILKTQNOTTY[XVYYSPMKTX\ULU]^[YXYVW]]YQMCGIJLPYSLQQSSOKTVUVQPWZ^ZTWWYSVSOIIR[_]Z\aa^ZWSOKQPSVWVYZ[VPQMOXZUOLTXXUSQRQTQU[]UJEIJNNRTURRVSSWYTQLCFNQQMJHJJJU]b]SPSRPU[baZbing]KFULF5AFQW[aBHVeebH>KNMLCD:-9>EMTYWXZZUONKKNOKLICEHOSWOFABAHRVTRJFNRQH=HKQURNORQNQSWZVXZVVTTPQPPTXXW_]YWTSRWVLCFJLOQPKQQMKPURQUXPKNNIKNSVVLNTUTRRSVVSPVYUSTZ^]RMGNRPMNKGFJQTVSPIMQPNGPUSKFFPUWYX[YVLGKSOUWTMMOPWURMPPFMRSIBOSPL@JTWUZ^[YWUPNTUZVW[\WXZSPKJRSUWWVOY\VKKHPUNJHMUYVTSOJOFLOTZ^WFGPY[ZUV\^a`]][YTIINVZYTWUPRXYRRU\^QGKPHISX[XRY]aQMTXUDF?AFKJGMX[\ZQBHMQUSQQRNCDPSMHKBBGFIRSROLNRXWSNGINSNKU[[\ZWSOKQVSPLFHNQRUZWXbb[TJRYYSNCEQRRVTQNUVQNSSJJPRNLMPSVNSPNNOTXZTNSNIMQWVNTYXUSPROPRPTVUQT\]^YPHMUROQTYSNJJJMOMNUZXSVVNGKKMKKPSYVLNQPKLOHB=FKIKIDQRRTRTXYXPFGRVWXSTLDOVULIX_[VNKPW[XVVQMSTNOJQVYWVQLSSKILSXUILUZ[YW\^YVXYac^UMPRQRTSSOKQXWTOVa`Z\ZVLHHMGGWadWWRH[TQFFLHCHGKUVYTOGLONVYVX^_]WRNKOVVTPMMW]XWPPQVTRUY[\VYY\ZVNOW_bc^OLUSKPQPVXRMNTVVSUWX_^YVPLQMMRTWSSPKSYTTUWVV\YVS\][QWaa[[[QONNIFJNKOSZXTRKOOTUSTWZ[]YYULC?CIAA9;CILMNVRPY][ZYPRVNMQPINTTTRTZ`a]SLRPRTW[_daZ[UWTTTUSNPMLNSWTUVWVRYXUWWVVVWXRTRSRRSOKMJMRUZ[YWSWVTVWWVURVXVWXV\^]YTTTSVUXUTTSRWVTRTRQVWZ]YQSVVVTSRSYWUXVVWSPUYbe`^X^a`UQPVWVXX]ca__b`WOXVTQVTTXXYWVYXZXXW]^VUNRPJVVVSMLRW[WV^\[XWVV\[ULMKUXRLHRUWV[_]XWZWUWUNSZ^VMIHT`c\VVWW\add_XXVMPZYLPPNTX[[WUXYZZ^_a\TO^dcTMQKBDLOWVMS]YQX\[TKPX_\VPLHPTRTSLTZ\[TWZY\][YYQNYbd]TMLMSRROMUXPKOKJTUTWNKDBTOPPPROOPPKKNNRTRTVQNKHMJGRYTRQPVXOQQJPTPDCMVWPPJRZYTJOVTKNRS[^YTMQQQU[_^ZUMKLROPTSSUSTNTZWNHKOWVY[TUXYXUQTY\[]ZVRRRQY]YRMLNRY^ZXUWUIMRQWYWVWY\]YXQN[]\\ZUSQLMRRTVXZZ\\YVSOLHLIJXab]\]afiaZSSUZ[WYZW[_W\eorrodUW]\PPW\WNFJPTYTR[_][\Z``QRTVLKWZZYUVUVU\__ZRQRPPTSVTQTVOKNUXY][[VSQUSSXYOKMODLTUNINRXZ\XURPSTPLPSZUTPOUOOPPINUVONOPQTZZZX\]RTRPRRPOTZ[RONQOQVRQSPHHORLKOMGEKJC9:CJNOMFRVSOGBIOMDLPLKEW`otsndTLKTRKJVQEE3FB@C*S\ZKHKWXSXSTZb][RJFNTWWVTUTMILK;>MI:NNLNMLPNNQSPUUQILUTTX[XWWZZTJJNKLJ;?NZ\ZWTYdkf]NLUXZYUSXWTVQJNSTOMTSHFOURLPPTTUNLOUWTUYWQPQORRTTUURSRPKJIJNT[^XSW[[YSQPQSUMKOURHHNOSTTPMPWXZZSNMMSRPMRWUSVWVQPNLGKRK@HMMKGLOOKR]ca][ZWSUOGEGLRTRTX\YSPHORUTRVUTVTTOKEIOY[UPKIHPMILTNPPQSSUXZUOHMVZTMSVUQPTVNQMQPPUUUQMNYac[QEIR=IRRKPSMMPRUVPONRSUQOPXVTRPQROGIQW[\XVW\dcXOLNKGMSPSTSUQLMMTQKSTK@IRTYXQPRTXUVZYXVSUMGINPMMPQMKDINLIBEHHTWUJOUUQT[^YONQLQXWMLLJMQRROLQUUUOKRW[[ZTTTOUVVTYXURKNUREHRSRGFQKJGPVX]ghea^VPICKTVUVQRQPPNRVWWQVWWUTROOIIKTZ[ZQEIMICKRTOOORPUTXXRMSVTTRSWTMRVUVORSPKT^`aVONSW\^TLQTE3*FYfji_`YDE?8SRA0PVR]_\SPWc[W][]mjGLFNRQUSKS[UTUPQSSPOMPSPPQROSSSRPVXYTSX[]WQKJNSLHOSTSQUWYYWRMRRRJRWVPMTXUNDERYXOHPW]^_daa`a[YUOFBQXVON]ef`ZSSOMNVXQMOTY]WTTRTVUUTPSPMNV\ZSPQVYUOQPOSXVRWZTOTVYWSTOTSOQW^a^[VWY_b^URV[\[__[XXTQRTVTX]VNRWTNNYZURWWTVVVJVQRTUTXWJUOUWXVVWTUQWXSUTRRTVTTSSTURVTUVSWVY_ZOU^ZUTZWUOWWWWTWW^USTUUTUZUWXYVSURRUVW]__^SQVRSTXXUSUTWSQVWTYZXVVPVWUNRXWWXWSURRRUYUSPVWVSSUTUWSTUVQTVWUUVSSTV^QQY_`a^^XVSRU]bca^TX\VQVQKOUTTRXXZUPQPJENRNLISW]a`WZ[VTVVVXWURTWSJORMKSWURVXZYQJHNQZXWVVKBAHHJPXTJHI@TZWQTWXXYUSUPOHQUPOR[\ZVPSVZZZ_`XUWURRTPW]``XXUMLRQLKFHNOQNQUSOW^^VNCIMGGLQSU[\XRSTZ_^WSVTVXSUTOHEJTYSJHNV[\WMOPSPLLPRV[][VLGQW_a[QKIHFNNNNOUVOKOWSRMKTXY\[T[^[TVVOLTSZ`]YUY_a\TLLIHPPLHMQUUPNSRTTTVTQTWMJHOQRSSZ\WUSTWVSLIMIIOSTSPNRSL6TTOMOWVVXYUIJMMHLV]ege`\\a^_dXW\_[Zqƒwd\]QGHJMOOMWWNPUQPRRJKIU``a\XXa]Y[WNHMVZV[YVTXTRPMTXXSTWYVVRNORRLKRVTSUUUTWYVYVSSTVXTLOSUZZVRUVWWSOLQXY]`XRMUVZVSQTRLRVUY\YVW[ZVTTSUSOOTVXWSNH?ALTZVWXXXWX[YWSTRONSX\\WOPROQQQPMTXRTXXRTRURLNXfca`XW]\\^YTXYRZZX\cZJPLKTVWLJTRNKPTZ\VK:IRPAC@=FNMGOSSMHJEGJMNQTWSILQUWVMIAGSUNGNTYRPVYXTRPMNV]\XTZ]`]]YNIIQRROOPPMMIONGPXVHAKSZYRRRV\`ZQSRSQPMJORRMQRRXXWVRRNHIGHMQPFCMWYY]c^TTUXVZYNMNLMTTPRMOWWUM=CQTUSUWUT[[UMSWQLKSVSKPUXWSQNE=DBAHOX__cc^XTSQYYUPNQNLJNPX\]TKOSSURPNPZYX\VSHGJHLSPLKJMMJMOJOUSPTQOPRLQSOOQX\[YYUUWUU\TMUWX_c_ZWSQQSF7Zecgoo^NQXSMGE<>+/LMIM\?5HO]M!C3UPLKHGLMJGMUVWQKLKPNGJSRUWVONHLTYUUXVU[WSRVXVVQPSQOSRUUVTVWWPQ\^XOLSSRPLLRYWKADPTW]gfe`]VUVTQPQWWWVX_aa]]UMKJLMMQSRWYUWWUX\XTRUYVSRJLINVPUSSKHERYVTQSUSUY[YVTLKVXXW[[[_bbZNTYUOPVUPP[ab`[RKPWSLU\]VJHQSRPVTOWWXYWTSSSUW\^^YYSSOWSY^\VWXVWTXXXROVRTSVSSRTRRTWOW[bd\RZa\TRUXQLSVSTTT[aZVSSVW[YVVTWWSVSVVVZZTTVRRQUWTZWUSVTNWUUOUVXZWSTXXXXSZWSPVVXTOTY[ZTXUWTUWT[\]XXZUTVVUYXTUMQWacZ\_bd]]YTPOV]_^[\X[Z[]WLNTRLNTVUONX]]XRSPJNWYYWUSXZSSUVXYXTQQRDAMTSMTW\YWU[[XRMQVVQSVRNUTJJOTXZVQNRYZTQV[VXWSQNJEELRPQSTVUTURTWYX]c_XXVX\[Y[[UOLRTMFMOMGFFKOSPOY\\ac]TPXRRLKMEOV]]WNJSU[]WTSPX\WLPPMLLRWYLIJMRUPLLOOLDGGGHLLPVTRXWSUWVWYRQPRPSUVTOP[ZULMIJHJQPOXa]TPQGEIQV\[XYX_d_UJRSOOOOOIKVWTNUXQGPYXUTURIOOSTVW]^YVLMRNPPPNMIOVXUURQSO?=OSQUXWRQYVTTQLNSPNU__WQS\a`aa]ba^Zo…}rbYVLKOV[TU^\TPOHMQIDHMYZYWYY]dcXRSYYUQKQRZ_^TRV[YPVSQTZ\VRPLKMTNGHKRYWXVSTZWVSLJTXTLBPZXVUQTWXUPNMLTVPSUVSSPLPMJMWZULGFO]\XTVVUVTQVUMS\ZTPTUXTMNVXPRW[]Z\]_\WQSPQPTUTRNW`\HEFIJPPOJNKQSSNSVW[\WS_b]Z][c[JMTVJCQV\PFJNUZ_ZTRMELTTUSVWRQRWSLIKKHJNLJPSFGMHGFLNKIINKMOKKJFCISWWNFLX]ZLMUOLMNIHOVWSLVafb\QJJKOLLPQQPOHMSVSRUUOPMPWTUURNWXSJORJHJGJPRNEEC@PZ]YQIDIMKKHDCCEOWUPNLPVXYVW]]TOOJLWWUPLGNRSKCBJSRPW^[TZ[YTRWTOMRSMQVWXVMNROB?GIJOQOGP\ccb`_^\WTNGLMJMSVXXNFQRURRSRTTWUV[VPRRKITWVNJIJCERVTTPQZXHGKMROIFQX\YTSOW`ZYWTLU]^]\`RLLP\e\>O`ZPdgbXYY]