· 1$#2$!4! q '#-$'#)(-j!...

49
"#$% #% &’()*+,(-)’..#+,) */012/ ,//3 #2341454 678 (249881:;43< 52= *:;5>924?1:@>52AB C>D92<C=81/ (21E98314F4 G948959812H &8I J/0819>9 "92@/84 "#$%& ’()$*+$, -./0 KF=/ALA1@ 52= "/:;=1=/@41@ 678 $9;898#2292 MK"$N &9543:; *9@52=/834569

Transcript of  · 1$#2$!4! q '#-$'#)(-j!...

!

!

!

!

!

!

!

!

!

!

"#$%!#%!&'()*+,(-)'..#+,)!

!

!

!

*/012/!,//3!

#2341454!678!(249881:;43<!52=!*:;5>924?1:@>52AB!C>D92<C=81/!(21E98314F4!!

!

G948959812H!&8I!J/0819>9!"92@/84!

!

!

!

"#$%&!'()$*+$,!-./0!

!

KF=/ALA1@!52=!"/:;=1=/@41@!678!$9;898#2292!MK"$N!!

&9543:;!*9@52=/834569!!

1$#2$!2!

#-,C$)*O'.P'#+,-#*!

3%45627)$,8$#94%#7 :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -!

;<1=>;?=::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0!

/! @#%6$#2A%B::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C!

/:/! D$,7E%6#94$!;A7B5%B77#2A52#(% :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C!

/:-! F,B5%#752(,#794$!>54*$%+$G#%BA%B$%:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C!

-! HAB$%G6#94$!I$G#$%J$62$% :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: K!

-:/! HAB$%G6#94$,!;6625B:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: K!

-:-! I$G#$%5A772522A%B::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: L!

-:0! I$G#$%%A28A%B!#%!G$,!M,$#8$#2::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: L!

-:C! N$#2*$G#A*!M#6*!O!M$,%7$4$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: P!-:Q! 3%2$,%$2:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: R!

-:K! 1946A77S(6B$,A%B$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /.!

0! 194A6#794$!I$G#$%J$62$% :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: //!

0:/! M#6*!#%!G$,!194A6$:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: //!

0:-! M#6*)$,*#226A%B!#*!T$A2794A%2$,,#942:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /C!

0:0! 1946A77S(6B$,A%B$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /Q!

C! M#6*!#%!G$%!"#77$%7945S2$% ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /L!

C:/! T$,!<$B,#SS!M#6* ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /L!

C:-! M#6*J#77$%7945S2::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /R!

C:-:/! N#%BA#72#U!A%G!1$*#(2#U::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: /R!

C:0! I$G#$%J#77$%7945S2::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -/!

C:0:/! T$,!5AG#()#7A$66$!=$V2 :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -/!

C:0:-! T#$!W(*X6$V#2Y2!G$,!<#6G$, ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: --!

C:0:0! I$G#$%U(%8$X2$::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: --!

C:0:C! I$G#56$!D5,5G#B*$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -0!

C:C! <#6GJ#77$%7945S2 ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -Q!

C:Q! W(*X$2$%8$% :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -K!

C:Q:/! T$,!W(*X$2$%8+$B,#SS!)(%!"$#%$,2 :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: -K!

C:Q:-! Z5%G6A%B7(,#$%2#$,2$!;%7Y28$!8A,!I$G#$%U(*X$2$%8 :::::::::::::::::::::::::::::::::::::::::::::::::::::: -L!C:K! 1946A77S(6B$,A%B$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0/!

Q! <#6GA%B7X(6#2#794$![(,B5+$%:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 00!

Q:/! \,A%G7528$,6577!I$G#$%$,8#$4A%B:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 00!

Q:-! T$,!3%S(,*52#(%7$,6577!]T#B#256$!W(*X$2$%8!5%!^72$,,$#947!194A6$%_:::::::::::::::::::::::::::::::::::: 0C!

Q:0! T$,!N$4,X65%!#%!G$,!;Z1!F+$,72AS$ ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0Q!

Q:0:/! ;66B$*$#%$7!<#6GA%B78#$6 :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0K!

Q:0:-! T#$!566B$*$#%$%!G#G5U2#794$%!\,A%G7Y28$:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0K!

Q:0:0! T$,!T$A2794`N$4,X65%!#%!G$,!;Z1`F+$,72AS$:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0K!

Q:C! 1946A77S(6B$,A%B$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: 0P!

K! 194A6+a94$,::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C.!

K:/! U65,!`!T$A2794!Q ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C.!

K:-! 1X,594,YA*$!/ :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C/!

K:0! 1946A77S(6B$,A%B$%::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C/!

L! 1946A77!A%G!;A7+6#9U::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: C0!

P! N#2$,52A, ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: CC!

R! ;++#6GA%B7)$,8$#94%#7 :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: CP!

!

1$#2$!3!

CG*).C+)!

!"#"$%"&!'()"*&+,'"("-&'-&)"*&.*"'/"'%&01-&23$"-)('45"-&"'-"&/"-%*6("&71(("8&96-$"(+&:-%#'4;(3-$&<'(='>

+45"*&?1=,"%"-/"-&'=&+453('+45"-&@((%6$&A("'A"-&23$"-)('45"&B")145&+1$"-6--%"&-6'0"&9")'"-"C,"*>

%D--"-8&.'(=&#'*)&'=&E"3%+453-%"**'45%&="'+%&-3*&'-56(%('45&3-)&0"*$("'45"-)&='%&F'%"*6%3*&A"56-)"(%8&

E'"+&$'(%&6345&<G*&/#"'&E"3%+45>H453(AG45"*&)"*&I8&H453(+%3<"8&E"*&0"*"-$%"&J3$6-$&/3=&.'(=&#'*)&'-&

.'(=>K&9")'"->&3-)&!'()#'++"-+456<%"-&;*'%'+'"*%L&"'-"&!"56-)(3-$&)"*&63M"*+,*645('45"-&N"+%6(>

%3-$+='%%"(&#'*)&"'-$"<1*)"*%8&D-&)'"+"=&H'--&<1;3++'"*"-&"'-'$"&E"3%+45)')6;%';"*D--"-&63<&)6+&H">

5"-K&)6+&'=&E"3%+453-%"**'45%&6(+&A6+6("&.O5'$;"'%&%5"1*"%'+45&3-)&,*6;%'+45&/3&"-%#'4;"(-&'+%8&@345&

)'"&A'()3-$+,1('%'+45"-&P1*$6A"-&0"*(6-$"-&)'"+8&E'"&$"<1*)"*%"&Q=1*'"-%'"*3-$&;6--&6=&F'%"*6%3*>

3-%"**'45%&6-+45('"M"-K&"*<1*)"*%&6A"*&"'-"-&R"45+"(&'=&.1;3+K&3=&)"*&:'$"-+%O-)'$;"'%&)"+&.'(=+&6(+&

=3(%'=")'6("=&9")'3=&3-)&)"*&<'(='+45"-&S6-)(3-$+1*'"-%'"*3-$&$"*"45%&/3&#"*)"-8&

!

!

194A672AS$b194A62cXd! R:!194A672AS$b>$56Bc*%57#A*!

M594bMY94$,d! T$A2794!

W(%25U2X$,7(%d! 15+#%5!Z557!

W(%25U25G,$77$d! \($24$Bc*%57#A*!;72B577$!0&!//C.!"#$%!

1$#2$!4!

Q '#-$'#)(-J!

T#$! )(,6#$B$%G$! ;,+$#2! +$S5772! 7#94! *#2! M#6*! #*! T$A2794A%2$,,#942:! eA! <$B#%%! B$42! $7! A*! G$%!

U(%U,$2$%! 794A6#794$%! >54*$%&! G$,! G$%!Z#%2$,B,A%G! Sa,! G#$! 5%7946#$f$%G$!<$794YS2#BA%B!*#2! M#6*!

G5,72$662:!@7!B#62!4#$,!*$#%$!\$72562A%B77X#$6,YA*$!#%!G$,!D,5V#7!5A78A6(2$%&!A*!+$77$,!8A!$,U$%%$%&!

J$694$!24$(,$2#794$%!eABY%B$!X,5U2#U5+$6!A%G!%a286#94!7#%G:!

QIQ K983R2>1:;9!C53A/2A33145/41L2!

394! A%2$,,#942$! T$A2794! A%G! <#6G%$,#794$! @,8#$4A%B! 5%! $#%$,! "#$%$,! 566B$*$#%+#6G$%G$%! 4E4$,$%!

194A6$:!3*!4$A,#B$%!194A6g54,!-./0b/C!A%2$,,#942$! #94!$#%$!G,#22$!A%G!$#%$!Sa%S2$!W6577$! #%!T$A2794:!

394! 45+$! #*! N5AS$! *$#%$,! h%2$,,#94272Y2#BU$#2! 794(%! $#%#B$! M#6*X,(g$U2$! #*! M594! <#6G%$,#794$!

@,8#$4A%B!*#2!F+$,72AS$%U6577$%!GA,94B$Sa4,2:!T#$7$! D,(g$U2$!JA,G$%! )(%! $#%$,! 5Af$,794A6#794$%!

F,B5%#752#(%! i^72$,,$#94#794$,! WA62A,! W(%25U2j! S#%5%8#$66! A%2$,72a282:! @#%b$! M#6*$*594$,3%! +$2,$A2$!

G57!g$J$#6#B$!D,(g$U2:!=,(28!G$7!B,(f$%!;%U65%B7!G#$7$,!D,(g$U2$&!+$G$A2$2$%!7#$!5A94!$#%$%!$%(,*$%!

(,B5%#752(,#794$%!A%G!8$#26#94$%!5Af$,794A6#794$%!;ASJ5%G!566$,!<$2$#6#B2$%:!I$#%!e#$6!#72!$7!%A%&!$#%!

W(%8$X2! Sa,! $#%! U6$#%$7&! #*! 194A656625B! 6$#942! 5%J$%G+5,$7! M#6*)(,45+$%! 8A! $,72$66$%! A%G!

GA,948ASa4,$%:!

M#6*!#72!$#%!I$G#A*&!G57!A%2$,794#$G6#94$!T#78#X6#%$%!#%!7#94!)$,$#%2:!3%!G$,!MY94$,5AS2$#6A%B!G$,!;Z1!

U5%%! *5%! M#6*! #%! )#$6$%! MY94$,%! )$,(,2$%:! I$#%$! MY94$,U(*+#%52#(%! iT$A2794! A%G! <#6G%$,#794$!

@,8#$4A%Bj! $,65A+2! $7! *#,&! +$7(%G$,7! G#$! %5,,52#)$%! A%G! +#6G6#94$%! ;%2$#6$! #%! $#%$*!

SY94$,)$,+#%G$%G$%!h%2$,,#942!8A!+$5,+$#2$%:!!

394!+#%!5AS!G$,!1A94$!%594!$#%$*!M#6*U(%8$X2&!G57!G$%!M#6*!567!$#B$%$7!I$G#A*!*#2!7$#%$%!$#B$%$%!

\$7$286#94U$#2$%! $,%72! %#**2:! I#,! #72! $7! 5A94! J#942#B&! 5%! G$%! ;6625B! A%G! G#$! 3%2$,$77$%! G$,!

HAB$%G6#94$%!5%8A7946#$f$%:! 394!*E942$!$#%!)(%!G$,!"#77$%7945S2! #%S(,*#$,2$7!M#6*U(%8$X2!Sa,!G$%!

h%2$,,#942! $%2J#9U$6%&! G57! B6$#948$#2#B! #%! G$,! D,5V#7! G$7! h%2$,,#942$%7! 56625B725AB6#94! #72:! "$#6! G#$!

;%S(,G$,A%B$%!5%!$#%$!S#6*#794$!h%2$,,#94277$kA$%8!U(*X6$V!7#%G&!794$#%2!*#,!G#$!F+$,72AS$!G5Sa,!

BA2!B$$#B%$2!8A!7$#%:!

T#$! D,5U2#UA*75,+$#2! Sa,! G$%! DMN`N$4,B5%B! #%! T$A2794&! G#$! %594! G#$7$,! )(,6#$B$%G$%!

24$(,#$8$%2,#$,2$%!;,+$#2!$%272$4$%!7(66&!*E942$!#94!#%!$#%$,!Q:!W6577$!iR:!194A672AS$j!GA,94Sa4,$%:!3%!

G#$7$,! 194A672AS$! 72$4$%! 5A94! G#$! \,A%G65B$%! $X#794$%&! G,5*52#794$%! A%G! 6c,#794$%! @,8Y46$%7! 5*!

D,(B,5**:!T#$7$7!#%45626#94$!h*S$6G!X5772!BA2!8A,![$,*#226A%B!S#6*#794$,!\,A%G65B$%&!5AS!G#$!7#94!#%!

G$%!S(6B$%G$%!W6577$%!G$,!F+$,72AS$!5AS+5A$%!6Y772:!!

QIS T8A/213/4L813:;9!./;U9209=12A52A92!

3%! G$,! Q:! W6577$! A%2$,,#942$! #94! -R! 194a6$,3%%$%! #*! M594! T$A2794l! #%! <#6G%$,#794$,! @,8#$4A%B!

A%2$,,#942$!#94!G#$!ZY6S2$!G#$7$,!N$,%B,AXX$:!T$,!T$A2794A%2$,,#942!S#%G$2!#%!@#%8$672A%G$%!72522!A%G!

A*S5772! G,$#! 12A%G$%! X,(! "(94$:! T5! G$,! W6577$%,5A*! G#$7$,! Sa%S2$%! W6577$! 5A94! Sa,! G#$!

'594*#225B7+$2,$AA%B! B$%A282! J#,G&! S#%G$2! G$,! T$A2794A%2$,,#942! #%! g$G$,! 12A%G$! G$,! "(94$! #%!

$#%$*!5%G$,$%!>5A*!72522:!T#$!;A772522A%B!+$72$42!5A7!=#794$%&!1$77$6%!A%G!$#%$,!194A625S$6:![(,4$,!

A%G! %5944$,! J$,G$%! G#$! >YA*$! )(%! 5%G$,$%! W6577$%! +$%A282:! @#%! 794%$66$,! "$947$6! *A77!

B$JY4,6$#72$2! 7$#%:! ;,+$#27*52$,#56#$%!A%G! 2$94%#794$!\$,Y2$!*a77$%!G$,! 1#2A52#(%!5%B$X5772! 7$#%:!

;AS! I$G#$%! i<$5*$,&! ?T`D65c$,&! T[T`D65c$,&! N5X2(X7&! [$,6Y%B$,A%B7U5+$6&:::j! A%G! 3%S,572,AU2A,!

i?(*XA2$,,5A*j!U5%%!#94!S566J$#7$!8:!<:!GA,94!>5A*25A794!8A,a9UB,$#S$%:!T#$!<$794YS2#BA%B!*#2!M#6*!

7(66! 7#94! (4%$! B,(f$%! (,B5%#752(,#794$%! ;ASJ5%G! #*! h%2$,,#942756625B! GA,94Sa4,$%! 6577$%:! T#$! Q:!

W6577$! 452! G$%! DS6#942B$B$%725%G! 3%S(,*52#U&! G$,! #%! 8J$#! N$,%B,AXX$%! $#%*56! #%! G$,! "(94$!

8J$#72a%G#B!72522S#%G$2:!

!

1$#2$!5!

T#$! )(,6#$B$%G$! ;,+$#2! 7(66! )(,! G#$7$*! Z#%2$,B,A%G! B$6$7$%! J$,G$%:! eA,! [(,+$,$#2A%B! $#%$,!

X,5U2#U5+6$%!h%2$,,#94277$kA$%8!8A*!M#6*!Sa,!G$%!T$A2794A%2$,,#942!J$,G$!#94!*#94!#%!$#%$*!$,72$%!

194,#22! G$%! gAB$%G6#94$%! I$G#$%J$62$%! A%G! G$*! 794A6#794$%! h*B5%B! *#2! G$*! I$G#A*! M#6*!

J#G*$%:! T5%594! +$794YS2#B$! #94! *#94! *#2! J#77$%7945S26#94$%! D$,7X$U2#)$%! 5AS! G$%! M#6*! A%G! G$%!

G5,5A7! ,$7A62#$,$%G$%! W(*X$2$%8U(%8$X2$%&! G#$! Sa,! G#$! [$,*#226A%B! S#6*#794$,! MY4#BU$#2$%! #%! G$,!

194A6$! )(%! <$G$A2A%B! 7#%G:! eA6$282! J$,G$! #94! *#94! G$,! 194A6$! %Y4$,%&! #%G$*! #94! ,$6$)5%2$!

E72$,,$#94#794$!\$7$28$72$V2$!#*!Z#%+6#9U!5AS!M#6*!#*!T$A2794A%2$,,#942!A%2$,7A94$:!;%45%G!8J$#$,!

T$A2794`194A6+a94$,! U(**$! #94! 5*! 1946A77! G#$7$,! ;,+$#2! +$#! G$,! D,5V#7! G$7! h%2$,,#942$%7! 8A*!

=4$*5!M#6*!5%:!!

T5! G#$! <$794YS2#BA%B! *#2! G$,! =4$(,#$! *$#%$! G#G5U2#794$%&! *$24(G#794$%! A%G! X,5B*52#794$%!

@%2794$#GA%B$%!6$#2$%!7(66&!7#%G!G#$!$#%8$6%$%!W5X#2$6!7(!5ASB$+5A2&!G577!#94!8A$,72!$,6YA2$,$&!J5,A*!

A%G!*#2!J$694$*!M(UA7!*#94!G#$!N#2$,52A,!#%2$,$77#$,2:!T5%%!+$794,$#+$!#94!G#$!N#2$,52A,&!G#$!*#,!Sa,!

*$#%$!X,5U2#794$!;,+$#2!+,5A94+5,$!24$(,$2#794$!F,#$%2#$,A%B!B#+2:!;*!@%G$!g$G$%!W5X#2$67!8#$4$!#94!

G#$!8$%2,56$%!1946A77S(6B$,A%B$%!Sa,!*$#%$!h%2$,,#9427X6Y%$:!

M#6*! #72! +$#! HAB$%G6#94$%! $#%! 7$4,! X,Y7$%2$7! A%G! +$6#$+2$7!I$G#A*:! eAG$*! 6$B$%! G#$! B$7$286#94$%!

>54*$%+$G#%BA%B$%! $#%$%! )$,+#%G6#94$%! h*B5%B! *#2! M#6*! S$72:! T5,5AS! 5AS+5A$%G! #72! $7! *$#%!

3%2$,$77$&! *#2! G#$7$,! 24$(,$2#794$%! ;,+$#2! A%G! G$,! S(6B$%G$%! G#G5U2#794$%! h*7$28A%B! %594!

IEB6#94U$#2$%!8A!7A94$%&!J#$!G$*!M#6*!2,(28!(S2!A%Ba%72#B$,!(,B5%#752(,#794$,!>54*$%+$G#%BA%B$%!G$,!B$+a4,$%G$!12$66$%J$,2!#*!T$A2794A%2$,,#942!B$B$+$%!J$,G$%!U5%%:!!

!

!

1$#2$!6!

S V(J'-&$#+,'!%'&#'-W'$)'-!

h*!*#2!M#6*!+$77$,!+$#!HAB$%G6#94$%!5%7946#$f$%!8A!UE%%$%&!7(66!#%!G#$7$*!W5X#2$6!G#$!<$G$A2A%B!G$,!

I$G#$%!#*!N$+$%! HAB$%G6#94$,!+$6$A942$2!J$,G$%:!eJ$#! gY4,6#94!$,794$#%$%G$!h%2$,7A94A%B$%&!G#$!

W3I`12AG#$!iIDM1!/+&!-./-j!A%G!G#$! H3I`12AG#$!iIDM1!/5&!-./-j&!A%2$,7A94$%!G$%!I$G#$%U(%7A*&!

G57! I$G#$%)$,4562$%! A%G! G#$! *$G#56$%! 3%2$,$77$%! )(%! W#%G$,%! A%G! HAB$%G6#94$%:! T#$! Sa,! M#6*!

,$6$)5%2$%! @,B$+%#77$! G#$7$,! 12AG#$%! 7#%G! 4#$,! G5,B$72$662:! ;67! @#%72#$B! #72! G$*! W5X#2$6! $#%! S#U2#)$,!

;6625B!$#%$,b7!HAB$%G6#94$%!)(,5%B$72$662:!

SIQ V5A92=>1:;98!C>>4/A!

3%!G$,!M,a4!+$B6$#2$2!G$,!>5G#(`"$9U$,!G57!;ASJ594$%:!T57!Z5%Gc!J#,G!5AS!$,72$!'594,#942$%! )(%!

M,$A%G3%%$%! U(%2,(66#$,2:! N#$+6#%B7*A7#U! `$)$%2A$66! 5A94! *#2! G$*! 1945A$%! G$7! IA7#U)#G$(7`!

+$B6$#2$2!G$%!I(,B$%!8A!Z5A7$:!T$,!194A6J$B!#72!)(%!IA7#U!#*!F4,!+$B6$#2$2&!Z5%Gc!A%G!#D4(%$!7#%G!

#%! G$,! =5794$:! ;%! D65U52JY%G$%!A%G! N#2S5f7YA6$%! )(,+$#! ! B$42! $7! 8A,! h`<54%:! <$#*!"5,2$%!+6$#+2!

*5%!5*!<54%72$#B!J#$!B$J(4%2!)(,!G$*!<#6G794#,*!72$4$%&!G$,!"$22$,&!WA,8*$6GA%B$%&!"$,+A%B!

A%G! G#$! 5U2A$66$%! 1X(,2$,B$+%#77$! #%! 794%$66$,! +#6G6#94$,! (G$,! S#6*#794$,! M(,*! X,Y7$%2#$,2:! 3%! G$,!

194A6$! U5%%!*5%!7#94! #%!G$,!D5A7$! 2,(28!G$7!Z5%Gc)$,+(27!G$%!4$#*6#94$%!<6#9U!5AS!G57!+6#%U$%G$!

Z5%Gc! %#942! )$,U%$#S$%:! @#%! 1I1! #72! $#%B$2,(SS$%&! G57! ,5794! +$5%2J(,2$2! J#,G:! @#%! 794%$66$7!

?(*XA2$,7X#$6!B$42!7#94!)(,!G$,!12A%G$!%(94!5A7:!!

'594! G$,! 194A6$! B#+2! $7! 8A,! @%27X5%%A%B! IA7#U&! $#%! +#7794$%! M$,%7$4$%! (G$,! $#%! ?(*XA2$,7X#$6:!

IA7#U! A%G! %$+$%+$#! 65AS$%G$! W(**A%#U52#(%! X$,! Z5%Gc! +$B6$#2$%! G#$! Z5A7a+A%B$%:! [#$66$#942!794,$#+2! A%G! ,$94$,94#$,2! *5%! G58A! 5*! ?(*XA2$,! (G$,! 7A942! X577$%G$! <#6G$,! Sa,! G57! >$S$,52! #*!

3%2$,%$2:! <$#*! 5%7946#$f$%G$%! @%27X5%%$%! J#,G!IA7#U! B$4E,2&! J$,G$%!IA7#U)#G$(7! B$7945A2! A%G!

)#$66$#942!$#%!$#B$%$,!M#6*!5AS!m(A2A+$!B$72$662:!;*!;+$%G!#72!%(94!e$#2!Sa,7!M$,%7$4$%:!"Y4,$%G!G#$!

M(6B$! $#%$,!N#$+6#%B77$,#$! 6YAS2!A%G!G5%%!$)$%2A$66! 8J#794$%! )$,794#$G$%$%!W5%Y6$%!4$,A*B$85XX2!

J#,G&! 6YAS2! G#$! W(**A%#U52#(%!*#2! G$%! D$$,7! X$,! Z5%Gc! J$#2$,:! 3%2$,%$27A,S$%&! 94522$%&! +6(BB$%&!

?(*XA2$,7X#$6$&!5+!A%G!8A!$#%!M#6*! #*!W#%(!`!*$G#56$!M,$#8$#2+$794YS2#BA%B$%!,A%G$%!G$%!194A625B!

G$,!HAB$%G6#94$%!5+:!!

T#$7$! S#U2#)$! 1#2A52#(%! $#%$,b$#%$7! HAB$%G6#94$%! #72! #%! $#%$,! 72YG2#794$%! h*B$+A%B! J(46! $4$,! G$,!

'(,*56S566!567!G#$!;A7%54*$:!;AG#2#)$&!5AG#()#7A$66$&!*A62#*$G#56$!A%G!#%2$,5U2#)$!I$G#$%5%B$+(2$!

J$,G$%! #%2$%7#)! B$%a282! A%G! 7#%G! 5A7! G$*! ;6625B! HAB$%G6#94$,! %#942! *$4,! J$B8AG$%U$%:! T#$!

I$G#$%X56$22$!A%G!G#$!;,2$%!G$,!'A28A%B!$,J$#2$,%!7#94!72Y%G#B!i[B6:!<5,24&!1:!//j:!T57!=$*X(!G$,!

2$94%#794$%!@%2J#9U6A%B$%!#72!,575%2:!!

W#%G$,!A%G!HAB$%G6#94$!J5947$%!*#2!I$G#$%!4$,5%:![(%!\$+A,2!5%!7#%G!7#$!)(%!I$G#$%!B$X,YB2:!T#$!

S,a4$72$!*$G#56$!D,YBA%B!G$,!W#%G$,!#72!*$#72!5AG#2#):!i[B6:!M,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!

1:!P.j!T#$!$,72$!W(**A%#U52#(%!S#%G$2!%(%`)$,+56!A%G!)$,+56!*#2!G$,!IA22$,!72522:!3*!W6$#%U#%G562$,!

U(**$%! 5%G$,$! *$G#56$! D,YBA%B$%! G58A&! J(+$#! G57! <A94! 794(%! 65%B$! %#942! *$4,! ]G57!

D,#*Y,*$G#A*! G$,! I$G#$%7(8#56#752#(%_! #72:! iM,$G$U#%B! O! W,(**$,! O! I5#J56G&! -./-&! 1:! P.j! T57!

@,8Y46$%! (G$,! [(,6$7$%! A%G! ;%7945A$%! )(%! <#6G$,+a94$,%! #72! 4$A28A25B$! %A,! #%! +#6GA%B7%54$%!

\$7$667945S27794#942$%! a+6#94$! D,5V#7:! N5%B$! )(,! G$*! 194A6$#%2,#22! J$,G$%! W#%G$,! 45AX27Y946#94!

GA,94!M$,%7$4,7$,#$%!A%G!M#6*$&!ZE,+a94$,!A%G!<#6G$,+a94$,!*$G#56! B$X,YB2:!;A94! Sa,!194A6U#%G$,!+$4562$%!5AG#2#)$!A%G!5AG#()#7A$66$!I$G#$%!#4,$!"#942#BU$#2:!i[B6:!M,$G$U#%B!O!W,(**$,!O!I5#J56G&!

-./-&!1:!P/j!

3%!T$A279465%G!$,4$+2!$#%$!M(,794A%B7U((X$,52#(%!8J$#$,!<A%G$76Y%G$,!*#2!G$*!1aGJ$72,A%GSA%U!

gY4,6#94! T52$%! 8A*! I$G#$%A*B5%B! )(%! W#%G$,%! A%G! HAB$%G6#94$%:! @#%$! 12AG#$&! G#$! W3I`12AG#$&!

W#%G$,! n! I$G#$%&! ?(*XA2$,! n! 3%2$,%$2! iIDM1&! -./-+j! $,4$+2! G#$! T52$%! 8A*! 372`eA725%G! A%G! 8A,!

@%2J#9U6A%B!G$7!I$G#$%A*B5%B7!G$,!R`!+#7!/0`HY4,#B$%&!G#$!H3I`12AG#$&!HAB$%G&!3%S(,*52#(%&!iIA62#`j!

I$G#5&!#72!$#%$!Y4%6#94$!h%2$,7A94A%B!a+$,!HAB$%G6#94$!#*!;62$,!)(%!/-!+#7!/R!H54,$%:!iIDM1&!-./-5j!

Ma,!^72$,,$#94!6#$B$%!G$,5,2#B$!12AG#$%!%#942!)(,:! 394!B$4$!566$,G#%B7!G5)(%!5A7&!G577!G#$!$,4(+$%$%!

1$#2$!7!

T52$%!Sa,!^72$,,$#94!7$4,!Y4%6#94!5A77$4$%!Ja,G$%!A%G!+$8#$4$!*#94!4#$,!45AX27Y946#94!5AS!G#$!H3I`

12AG#$&!J$#6!G57!;62$,77$B*$%2!G$*!$%27X,#942&!Sa,!G57!#94!*$#%!M#6*)(,45+$%!#*!T$A2794A%2$,,#942!

X65%$:!!

SIS %9=192/5334/4452A!

W#%G$,`!A%G!HAB$%G6#94$!7#%G!#**$,!J$%#B$,!5AS!G#$!\$,Y2$!5%B$J#$7$%&!G#$!$7!#*!Z5A74562!B#+2:!T#$!

T52$%!8$#B$%&!G577!7#$! #**$,!4YAS#B$,!$#%$!$#B$%$!I$G#$%5A772522A%B!+$7#28$%:!I#2!8A%$4*$%G$*!

;62$,!+$2,#SS2!G57!+$7(%G$,7!Z5%Gc&!M$,%7$4$,!A%G!?(*XA2$,!*#2!3%2$,%$28AB5%B:!3%7B$75*2!+$7#28$%!*#226$,J$#6$! RK! D,(8$%2! G$,! HAB$%G6#94$%! 8J#794$%! /-! A%G! /R! H54,$%! $#%! $#B$%$7! ! Z5%Gc! `! G5)(%!

$%2S566$%!CL! D,(8$%2!5AS!1*5,2X4(%$7:!T57! #72! $#%$!G$A26#94$!12$#B$,A%B! #*![$,B6$#94!8A*![(,g54,:!

M572!R!)(%!/.!HAB$%G6#94$%!iPLoj!UE%%$%!)(%!#4,$*!e#**$,!5A7!5AS!G57!3%2$,%$2!8AB,$#S$%:!@2J5!)#$,!

Ma%S2$6!45+$%!$#%$%!$#B$%$%!?(*XA2$,bN5X2(X!A%G!$#%$%!ID0`D65c$,:!@#%!>5G#(`!(G$,!M$,%7$4B$,Y2!

+$7#28$%! 95:! K.! D,(8$%2! G$,! HAB$%G6#94$%:! "#$! ;++#6GA%B! /! )$,G$A26#942! +$S#%G$2! 7#94! 5A94! G#$!

;A772522A%B! *#2! T#B#256U5*$,57! 5AS! Y4%6#94$*! '#)$5A:! IYG94$%! +$7#28$%! *$4,! T#B#256U5*$,57&!

<A,794$%!4YAS#B$,!$#B$%$!M$,%7$4B$,Y2$&!1X#$6U(%7(6$%!A%G!1*5,2X4(%$7:!!

!

;++:!/d!\$,Y2$+$7#28!HAB$%G6#94$,!-./-!%594!IYG94$%!A%G!HA%B$%!i;%B5+$%!#%!D,(8$%2&!<57#7d!566$!

<$2$#6#B2$%&!%p/:-./l!qA$66$d!IDM1&!-./-5j!

SIX %9=192254Y52A!12!=98!"891Y914!

eA7Y286#94!8A,!I$G#$%5A772522A%B!$,4$+2!G#$!H3I`12AG#$!-./-!5A94!<57#7G52$%!8A,!!I$G#$%%A28A%B!#%!

G$,! M,$#8$#2&! 8A! =4$*$%#%2$,$77$%! A%G! 8A! 7X$8#$66$%! M,5B$72$66A%B$%! J#$! 8:! <:! 8A,! 'A28A%B! )(%!

IA7#U)#G$(7!(G$,!8A,!"54,%$4*A%B!$#%8$6%$,!M$,%7$4S(,*52$:!

;++#6GA%B! -! )$,G$A26#942&! G577! G#$! <$794YS2#BA%B! *#2! I$G#$%B$,Y2$%! A%G! I$G#$%#%4562$%! #%! G$,!

M,$#8$#2!G$,!HAB$%G6#94$%!7$4,!X,Y7$%2!A%G!J#942#B!#72:!I$G#$%!J$,G$%!8A,!3%S(,*52#(%&!h%2$,4562A%B!

1$#2$!8!

A%G! W(**A%#U52#(%! B$%A282:! T5+$#! J$,G$%! 3%2$,%$2&! M$,%7$4$%! A%G! Z5%Gc! )(%! a+$,! R.! o!

,$B$6*Yf#B!+$%A282:!3*![$,B6$#94!G58A!7X#$6$%!<a94$,!A%G!e$#2A%B$%be$#2794,#S2$%!$#%$!B$,#%B$!>(66$:!

'A,!8J$#!Ma%S2$6!G$,!HAB$%G6#94$%!6$7$%!,$B$6*Yf#B!<a94$,!A%G!=5B$78$#2A%B$%:!i[B6:!IDM1&!-./-5&!

1:K-j! T#$! I$G#$%%A28A%B! )(%! IYG94$%! A%G! <A,794$%! #72! #%! $#%#B$%! <$,$#94$%! A%2$,794#$G6#94:!

IYG94$%! 6$7$%! #%! #4,$,! M,$#8$#2! *$4,! <a94$,! 567! <A+$%l! 7#$! S(2(B,5S#$,$%! 5A94! *$4,:! <A,794$%!

4#%B$B$%!45+$%!$#%$!B,Ef$,$!D,YS$,$%8!Sa,!e$#2794,#S2$%&!T[T7!A%G!?(*XA2$,7X#$6$:!!

!

;++:! -d! I$G#$%+$794YS2#BA%B! 2YB6#94b*$4,*567! X,(!"(94$! #%! G$,! M,$#8$#2! -./-! %594!IYG94$%!

A%G!HA%B$%!i;%B5+$%!#%!D,(8$%2&!<57#7d!566$!<$2$#6#B2$%&!%p/:-./l!qA$66$d!IDM1&!-./-5&!1:!00j!

SIZ $914U9=15U!"1>U![!"98239;92!

T#$! @,4$+A%B$%! 7X,$94$%! #%7B$75*2! $#%$! G$A26#94$! 1X,594$:! T57! X,#*Y,$! I$G#A*! 4$A2#B$,!

I$G#$%7(8#56#752#(%!#72!%#942!*$4,!G57!<A94:!T57!M$,%7$4$%!#72!G57!G(*#%5%2$!I$G#A*!+$#!W#%G$,%:!

'594! ;%B5+$%! G$,! Z5AX2$,8#$4$,3%%$%! S5%B$%! G#$! W#%G$,! *#2! GA,94794%#226#94! G,$#! H54,$%! 5%!

S$,%8A7$4$%:! i[B6:! IDM1! /+&! -./-&! 1:! /Pj! ;66$! N$+$%7+$,$#94$! A%G! ;62$,772AS$%! Z$,5%J5947$%G$,!

7#%G!_#%!A*S577$%G$,!"$#7$!*$G#56#7#$,2_!iM,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!1:!P-j:!M#6*!A%G!

M$,%7$4$%!45+$%!7#94!567!]N$#2*$G#A*!G$,!\$B$%J5,2_!iM,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!1:!

P.j! 4$,5A7B$+#6G$2:! T#$7$! I$G#$%! J$,G$%! #%2$%7#)! B$%A282:! '594! $#B$%$,! @#%794Y28A%B! 7945A$%!

HAB$%G6#94$! S572! 8J$#! 12A%G$%! X,(! =5B! i///! I#%A2$%j! S$,%:! i[B6:! IDM1&! -./-5&! 1:! -Qj&! J(+$#! G57!

7252#(%Y,$! M$,%7$4B$,Y2! 8A! Z5A7$! %594! J#$! )(,! 5*! *$#72$%! +$%A282! J#,G:! ;62$,%52#)$! @%GB$,Y2$!

i1*5,2X4(%$&!3%2$,%$2j!7#%G&!J57!G57!M$,%7$4$%!+$2,#SS2&!8J$#2,5%B#B:!i[B6:!IDM1&!-./-5&!1:!-Kj!

@#%!$#B$%$,!M,5B$%U(*X6$V!JA,G$! #%!G$,!H3I`12AG#$!-./-!$,72*567!8A!19,#X2$G!>$56#2c!M(,*52$%!#*!

M$,%7$4$%!GA,94B$Sa4,2:!T57!7#%G!S#U2#)$!\$794#942$%&!G#$!)(%!N5#$%G5,72$66$,3%%$%!%594!$#%$*!B,(+!

)(,B$B$+$%$%! T,$4+A94! *#2! B,(f$,! G5,72$66$,#794$,! M,$#4$#2! A*B$7$282! J$,G$%:! @#%!

G(UA*$%25,#794$,!12#6!J#,G!4#$,!567!G,5*52A,B#794$7!I#22$6!$#%B$7$282&!J57!;A24$%2#8#2Y2!)(,2YA7942:!

19,#X2$G! >$56#2c! M(,*52$! $,S,$A$%! 7#94! +$#! HAB$%G6#94$%! B,(f$,! <$6#$+24$#2:! T#$! 7X$8#$66$! I5945,2!

1$#2$!9!

G#$7$7!%$A$%!\$%,$7!$,J$9U2!$#%$%!7$4,!J#,U6#94U$#27%54$%!@#%G,A9U:!3%!G$,!H3I`12AG#$!-./-!JA,G$%!

G#$!HAB$%G6#94$%!%594!G$*!>$56#2Y27B,5G!7(694$,!M(,*52$!+$S,5B2:!T5+$#!452!7#94!B$8$#B2&!G577!/K!o!

G#$!\$*59424$#2!G$,!1$%GA%B!%#942!J54,B$%(**$%!45+$%:!1#$!4#$62$%!G#$!3%78$%#$,A%B!Sa,!>$56#2Y2:!!

SI\ #2498294!

T57!3%2$,%$2!452!#*!;6625B!G$,!HAB$%G6#94$%!$#%$!4(4$!>$6$)5%8:!T#$!eABY%B$!8A*!3%2$,%$2!45+$%!7#94!

$,J$#2$,2d! T#$! *(+#6$! 3%2$,%$2%A28A%B! X$,! Z5%Gc! A%G! 1*5,2X4(%$! %#**2! 725,U! 8A:! i[B6:! IDM1&!

-./-5&! 1:! 0-j! T#$! W3I`12AG#$! 7X,#942! )(%! G$,! \$%$,52#(%&! G#$! #*! 3%2$,%$28$#2562$,! 5ASJY9472! 567!]T#B#256!'52#)$7_:!iIDM1&!-./-+&!1:!0j!

"#$!7#94!G#$!8$#26#94$!'A28A%B!G$7!'$28$7!5AS!)$,794#$G$%$!3%4562$!5AS2$#62&!6Y772!7#94!G$,!;++#6GA%B!0!

$%2%$4*$%:!W%5XX!G#$!ZY6S2$!G$,!e$#2&!G#$!HAB$%G6#94$!#*!'$28!)$,+,#%B$%&!J#,G!8A,!W(**A%#U52#(%!

B$%A282:! T5*#2! 7#%G! ;U2#)#2Y2$%! #%! 7(8#56$%! '$28J$,U$%&! I5#6$%! A%G! ?4522$%! B$*$#%2:! T#$! 5%G$,$!

ZY6S2$! $%2SY662! 5AS! h%2$,4562A%B! GA,94! IA7#U&! [#G$(7! A%G! <#6G$,! 7(J#$! 5AS! 1X#$6$! A%G!

3%S(,*52#(%77A94$:! ;A7! 566! G#$7$%! ;U2#)#2Y2$%! #72! M#6*! %#942! J$B8AG$%U$%:! T#$! W(**A%#U52#(%! #%!

7(8#56$%! '$28J$,U$%! +$72$42! 5A7! =$V2$%&! 72$4$%G$%! A%G! +$J$B2$%! <#6G$,%l! ?(*XA2$,7X#$6$! 7#%G!

i=(%jM#6*$l! 3%2$,%$2,$94$,94$! #72! #**$,! ES2$,! )(%! m(A=A+$`M#6*$%! +$B6$#2$2:! 3*!

h%2$,4562A%B7+$,$#94!45+$%!M#6*$!$#%$!7$4,!4(4$!D,Y7$%8:!!

!

;++:! 0d! 3%45626#94$![$,2$#6A%B!G$,! 3%2$,%$2%A28A%B!%594!G$%! W52$B(,#$%! W(**A%#U52#(%&! 1X#$6$&!3%S(,*52#(%77A94$! A%G! h%2$,4562A%B! i;%B5+$%! #%! D,(8$%2&! <57#7d! 3%2$,%$2`'A28$,&! %p/:/P-l!

qA$66$d!IDM1&!-./-5j!

"$%%!*5%! 7#94! G57! h%2$,4562A%B77$B*$%2! G$,! 3%2$,%$2%A28A%B! 4$,5A7%#**2! i7#$4$! ;++:! Cj&! SY662!

5AS&! G577! G57! I$G#A*! M#6*! Sa,! HAB$%G6#94$! 7$4,! J#942#B! #72:! h%2$,4562A%B75%B$+(2$! J#$! 8:! <:!

[#G$(X(,256$!J$,G$%! )(%!*$4,!567!L.!o!G$,! HAB$%G6#94$%! ,$B$6*Yf#B!B$%A282:!1#$! B$4E,$%!8A!G$%!

*$#72B$%A282$%! "$+7$#2$%:! m(A=A+$! #72! 4#$,! G57! +$G$A2$%G72$! [#G$(X(,256:! T57! ;%4E,$%! A%G!

;%7945A$%!)(%!IA7#U)#G$(7! #72!7$4,!+$6#$+2:!i[B6:!IDM1&!-./-5&!1:!-Kj! H$G$,!T,#22$!452!*#226$,J$#6$!

7(B5,!$#%!$#B$%$7!W(%2(&!*#2!G$77$%!Z#6S$![#G$(7!)$,J562$2!A%G!5,94#)#$,2!(G$,!$#B$%$![#G$(7!(%6#%$!

B$72$662!J$,G$%!UE%%$%:!i[B6:!IDM1&!-./-5&!1:!0Qj!

1$#2$!10!

!

;++:! Cd! =Y2#BU$#2$%! #*! 3%2$,%$2b5*! ?(*XA2$,! 2YB6#94b*$4,*567! X,(! "(94$! 8A*! 194J$,XA%U2!

h%2$,4562A%B!%594!C!;62$,7B,AXX$%! i;%B5+$%! #%!D,(8$%2&! <57#7d!566$! <$S,5B2$%&!%p/:-./l!qA$66$d!

IDM1&!-./-5j!

SI] *:;>5336L>A9852A92!

T#$! H3I`12AG#$! 8$#B2! G#$!"#942#BU$#2! G$,!I$G#$%! Sa,! gA%B$!Z$,5%J5947$%G$:![#$6$! G$,! 5%B$Sa4,2$%!

'A28A%B$%! )(*! IA7#U)#G$(! +#7! 8A*! M59$+((U`D(72#%B! 45+$%! S#6*#794$! ;%2$#6$:! T#$! #%2$%7#)$!

I$G#$%%A28A%B!#*!;6625B!6$B2!$#%$!;A7$#%5%G$,7$28A%B!*#2!I$G#$%!A%G!M#6*!#%!G$,!194A6$!%54$:!

HAB$%G6#94$!7#%G! #%! #4,$*!I$G#$%A*B5%B!5AS!)#$6$,6$#!;,2$%!*#2!+$J$B2$%!<#6G$,%!U(%S,(%2#$,2:! 394!

*E942$! G#$7$! =527594$! #%! *$#%$*! h%2$,,#9427)(,45+$%! 5ASB,$#S$%&! #%G$*! #94! $#%$!

h%2$,,#94277$kA$%8!*(G$66#$,$&!G#$! 7#94!*#2!G$%! B,A%G6$B$%G$%!\$72562A%B7*#22$6%!+$794YS2#B2&!G#$!

G57!7X$8#S#794!M#6*#794$!`$B56!#%!J$694$,!1X#$65,2!iIA7#U)#G$(&!1X#$6S#6*&:::j`!5A7*594$%:!!

M#6*$! J$,G$%! )(%! 4$,5%J5947$%G$%! <A,794$%! A%G! IYG94$%! 45AX27Y946#94! 8A,! h%2$,4562A%B!

5%B$7945A2:! T#$7$%! ;7X$U2! *E942$! #94! *#,! 8A! 'A28$! *594$%! A%G! #%! G$,! Q:! W6577$! *#2! S#6*#794$%!

3%4562$%!5,+$#2$%&!G#$!Sa,!HAB$%G6#94$!h%2$,4562A%B7J$,2!+$7#28$%:!!

T#$! @,B$+%#77$! G$,! H3I`12AG#$! 45+$%! B$8$#B2&! G577! 7#94! HAB$%G6#94$! 794J$,! 2A%! M#U2#(%! A%G!

"#,U6#94U$#2!#%!+$72#**2$%!#%78$%#$,2$%!M#6*7$22#%B7!5A7$#%5%G$,8A4562$%:!T#$7$!"54,%$4*A%B!6Y772!

7#94! #*! eAB$! G$7! T$A2794A%2$,,#9427! BA2! +$5,+$#2$%:! '5,,52#(%! A%G! M#U2#(%! 7#%G! )$,2,5A2$!

;,+$#27S$6G$,&!5%!G#$!7#94!BA2!5%U%aXS$%!6Y772:!T#$!\$*59424$#2!G$7!M#6*7!A%G!7$#%$!;,2!G$7!@,8Y46$%7!

7(66!$+$%S5667!$#%!J#942#B$,!<$725%G2$#6!*$#%$7!h%2$,,#9427X,(g$U27!J$,G$%:!!

1$#2$!11!

X *+,($#*+,'!%'&#'-W'$)'-!

T57!)(,#B$!W5X#2$6!452!G#$!"#942#BU$#2!G$,!I$G#$%!A%G!G$,!M#6*$!Sa,!Z$,5%J5947$%G$!B$8$#B2:!T#$7$7!

W5X#2$6! +$794YS2#B2! 7#94!*#2! G$,! 794A6#794$%!I$G#$%7(8#56#752#(%!G$,! HAB$%G6#94$%:! eA$,72! $,6YA2$,$!

#94! $#%#B$! ,$6$)5%2$! @,B$+%#77$! G$,! H3I`12AG#$! -./-&! G#$! 7#94! 566B$*$#%! 5AS!I$G#$%! #%! G$,! 194A6$!

+$8#$4$%:! T#$! F%6#%$`h*S,5B$! $#%$7! T$A2794G#G5U2#U$,7&! G#$! 7#94! 7X$8#$66! *#2! G$*! 1X#$6S#6*! #%! G$,!

194A6$! +$794YS2#B2&! 6#$S$,2! 5AS7946A77,$#94$! T52$%! #*! Z#%+6#9U! 5AS! G#$! 794A6#794$! ;,+$#2! *#2! M#6*:!

'594G$*! $7! #%7B$75*2! U5A*! $*X#,#794$! T52$%! 8A,! M#6*)$,*#226A%B! #%! G$,! 194A6$! A%G! #*!

T$A2794A%2$,,#942! B#+2&! ,#942$! #94! #%! G$,! M(6B$! *$#%! ;AB$%*$,U! 5AS! *$G#$%XYG5B(B#794$! A%G!

G$A2794G#G5U2#794$! N#2$,52A,&! A*! G$%! 1252A7! qA(! G$,! M#6*)$,*#226A%B! #*! T$A2794A%2$,,#942! 8A!

+$794,$#+$%:!!

XIQ "1>U!12!=98!*:;5>9!

T#$!H3I`12AG#$! !72$662!-./-!$,72*567!5A94!M,5B$%!8A*!I$G#$%A*B5%B!G$,!/-`!+#7!/R`HY4,#B$%! #%!G$,!

194A6$:! T$,! <$B,#SS! I$G#$%U(*X$2$%8! #72! 4#$,! 5AS! G57! "#77$%! a+$,! I$G#$%! A%G! G57!

I$G#$%%A28A%B7)$,4562$%!+$8(B$%:!@#%$!M,5B$!G$,!H3I`12AG#$!-./-!#72&!#%J#$S$,%!I$G#$%24$*$%!#*!

h%2$,,#942! )(,U(**$%:! T#$! G#$7+$8aB6#94! $,4(+$%$%! T52$%! 8$#B$%&! G577! =4$*$%! J#$! Z5%Gc&!

3%2$,%$2&!F%6#%$`?(**A%#2#$7!A%G!T52$%794A28!#%!G$,!194A6$!+$45%G$62!J$,G$%:! 3%7B$75*2!K-o!G$,!

HAB$%G6#94$%!B$+$%!5%&!G#$7$!I$G#$%24$*$%!#*!194A6U(%2$V2!+$7X,(94$%!8A!45+$%:!i[B6:!IDM1!/5&!

-./-&! 1:! QRj! I$4,! 567! G#$! ZY6S2$! 75B2! 5A94&! G577! 7#$! 8A! G$%! +$45%G$62$%! =4$*$%! $#%! +$77$,$7!

[$,72Y%G%#7!$%2J#9U$62!452l!Sa,!$#%![#$,2$6!J5,!G#$!794A6#794$!<$45%G6A%B!)(%!I$G#$%24$*$%!#%!G$,!194A6$! ;%6577! 8A,! [$,4562$%7Y%G$,A%B! +$#! G$,! ]'A28A%B! )(%! 3%2$,%$2&! Z5%Gc7! (G$,! ?(**A%#2#$7_!

iIDM1! /5&! -./-&! 1:! K.j:! @#%! M(UA7! G$,! h%2$,7A94A%B! 6#$B2! 5AS! G$%! 2$94%#794$%! W(*X$2$%8$%! #*!

h*B5%B! *#2! I$G#$%:! T#$! 12AG#$! 8$#B2&! G577! HAB$%G6#94$! ?(*XA2$,! A%G! 3%2$,%$2! #*! ;66B$*$#%$%!

+$G#$%$%!UE%%$%:!HA%B$%!45+$%!+$#!G$%!2$94%#794$%!W$%%2%#77$%!*$4,!@,S54,A%B!567!IYG94$%:!i[B6:!

IDM1!/5&!-./-&!1:!K/!SS:j!!

3%! G$,! 194A6$! #72! G#$! ;,+$#2!*#2! ?(*XA2$,! A%G! 3%2$,%$2! ]%594!J#$! )(,! $4$,! 7$62$%! G#$! >$B$6_! i)B6:!

IDM1! /5&! -./-&! 1:! 0Lj&!JY4,$%G!G$,! ?(*XA2$,! 8A!Z5A7$! 7$4,!J(46! Sa,! 794A6#794$! eJ$9U$! B$%A282!

J#,G:!T#$7$!4YA76#94$!'A28A%B!72$#B2!*#2!8A%$4*$%G$*!;62$,!G$,!HAB$%G6#94$%:!I$4,!567!G#$!ZY6S2$!

G$,! 3%2$,%$22Y2#BU$#2$%! Sa,! G#$! 194A6$! SY662! G5+$#! 5AS! G#$! 3%2$,%$2,$94$,94$:! 3*! h%2$,794#$G! 8A,!

3%S(,*52#(%7+$7945SSA%B! #72!G$,!;%2$#6!G$,!5U2#)$%!@#B$%X,(GAU2#(%! $4$,!B$,#%B:!Z#$,!B#+2! $7! #%!G$,!

12AG#$! U$#%$! B$%5A$! eA(,G%A%B&! (+! 7#94! G#$7$! 5U2#)$! 'A28A%B! 5AS! G#$! 194A6$! (G$,! G57! eA45A7$!

+$8#$42:!;66B$*$#%!J#,G!S$72B$4562$%&!G577!G$,!B,Ef2$!;%2$#6!+$#!G$,!@,72$66A%B!$#B$%$,!3%4562$!5AS!G57!

@,72$66$%! 794,#S26#94$,! <$#2,YB$! Sa,! M(,$%! A%G! G57! @,72$66$%! )(%! <#6G$,%! A%G! [#G$(7! $%2SY662:! T57!

J$#2$,$!<$5,+$#2$%! )(%! <#6G$,%!A%G! M#6*$%&! G#$! @,72$66A%B! )(%!D,Y7$%252#(%$%!(G$,! >$S$,52$%&! G57!

eA75**$%72$66$%! )(%! IA7#U! A%G! G#$! 1(A%G+$5,+$#2A%B! +8J:! `$,72$66A%B! 45+$%! $#%$%! B$,#%B$%!

12$66$%J$,2:!T#$!H3I`12AG$!72$662!#%7B$75*2!S$72&!G577!7#94!G57!3%2$,%$2!Sa,!HAB$%G6#94$!+#74$,!%#942!8A!

$#%$*!]I#2*594`I$G#A*_!iIDM1&!-./-5&!1:!0Lj!$%2J#9U$62!452:!!

3%!$#%$,!F%6#%$`<$S,5BA%B!)(%!G$A2794$%!;+#2A,#$%23%%$%!iW$X7$,&!-..Lj&!G#$!566$,G#%B7!J$B$%!$#%$,!

B$,#%B$%! 12#94X,(+$! U$#%$! >$X,Y7$%252#)#2Y2! +$5%7X,A942&! +$72Y2#B$%! 7#94! G#$! @,B$+%#77$! G$,! H3I`

12AG#$!+$8aB6#94!G$,!"#942#BU$#2!G$,!M#6*,$8$X2#(%!Sa,! gA%B$!I$%794$%!#*!h%2$,794#$G!8A!<a94$,%:!;A94!G#$!D$$,B,(AX`\$7X,Y94$!U,$#7$%!B$7946$9427A%5+4Y%B#B!)(,8AB7J$#7$!A*!M#6*$:!i[B6:!W$X7$,&!

-..L&! 1:! 00j! ;+B$7$4$%! G5)(%! 6#$S$,2! G#$7$! @,4$+A%B! )(%! I5224#7! W$X7$,! #%2$,$775%2$! T52$%! #*!

<$8AB! 5AS! G$%! 794A6#794$%! h*B5%B!*#2! M#6*:! W$X7$,! B$42! 567! M594G#G5U2#U$,! Sa,! G57! M594! T$A2794!

)(*! M#6*! 567! B,A%G7Y286#94! $,8Y46$%G$*! I$G#A*! 5A7:! T$7456+! +$8#$4$%! 7#94! G#$! M,5B$%! 7$#%$,!

F%6#%$`@,4$+A%B!5A77946#$f6#94!5AS!G$%!1X#$6S#6*&!G$,!567!%5,,52#)$7!I$G#A*!G57!6#2$,5,#794$!M$6G!G$7!

T$A2794A%2$,,#9427!$,J$#2$,2:! 3%!G$,!h*S,5B$!B$42!$7!$#%$,7$#27!A*!G#$!<$45%G6A%B!)(%!1X#$6S#6*$%!

#%! G$%! )$,794#$G$%$%! h%2$,,#9427B$B$%72Y%G$%! A%G! 5%G$,$,7$#27! `! 5A7! ,a9U+6#9U$%G$,! 1#942! G$,!

G$A2794$%! ;+#2A,#$%23%%$%! `! ! A*! G#$! 794A6#794! $,J(,+$%$! 1X#$6S#6*U(*X$2$%8:! T$,! <$B,#SS!

1$#2$!12!

1X#$6S#6*U(*X$2$%8!A*S5772!4#$,!M,5B$%!8A!G$%!G,$#!=$#6+$,$#94$%d!S#6*4#72(,#794$7&!S#6*Y724$2#794$7!

A%G! S#6*UA62A,$66$7! "#77$%:! TA,94! 5%56(B$! M,5B$%! )$,B6$#942! G#$! 12AG#$! 6#2$,5,#794$7! "#77$%! *#2!

S#6*#794$*!"#77$%:!"$#2$,$!M,5B$%U(*X6$V$!$,4$+$%!G#$!5%B$J$%G$2$%!I$24(G$%!8A*!1X#$6S#6*!#%!

G$,!194A6$!A%G!G#$!<$Ga,S%#77$!G$,!194a6$,3%%$%:!!

T#$!@,B$+%#77$!8$#B$%&!G577!S#U2#(%56$!M#6*$!#4,$%!D6528!#*!794A6#794$%!;6625B!45+$%:!T$,!\,(f2$#6!G$,!

M#6*$!J#,G!#*!;%7946A77!5%!G57!;%7945A$%!5+$,!%#942!*$4,!24$*52#7#$,2:!<$7(%G$,7!#*!M594!@%B6#794!

J$,G$%! 194a6$,3%%$%! *#2! 1X#$6S#6*$%! U(%S,(%2#$,2:! T$A26#94! %#$G,#B$,! 6#$B2! G$,! ;%2$#6! +$#*! M594!

T$A2794:!T#$!h*S,5B$!G(UA*$%2#$,2&!G577!G#$!;+#2A,#$%23%%$%!U5A*!$2J57!a+$,!G$%!1X#$6S#6*!J#77$%:!

T57!+$2,#SS2!M,5B$%!8A,!M#6*B$794#942$!J#$!8:!<:!8A!>$B#77$A,3%%$%!A%G!J#942#B$%!@X(94$%!G$7!M#6*7!

A%G! M,5B$%! 8A! S#6*Y724$2#794$%! M594+$B,#SS$%! J#$! 8:! <:! I(%25B$! (G$,! 194A77`\$B$%794A77:! 3*!

<$,$#94! G$7! S#6*UA62A,$66$%! "#77$%7! 794%#22$%! G#$! <$S,5B2$%! +$77$,! 5+:! D,5U2#794! g$G$b,! U$%%2!

+$#7X#$67J$#7$!G$%!M#6*X,$#7!T+46*8&W$X7$,!7946#$f2!G5,5A7&!G577!*5%!7#94!G#$7$7!"#77$%!(SS$%+5,!BA2!

GA,94!G#$!5662YB6#94!)$,J$%G$2$%!I$G#$%!5%$#B%$%!U5%%!i)B6:!W$X7$,&!-..L&!1:!00j&!G5!G#$7$!=4$*$%!

#*!h%2$,,#942!(SS$%7#9426#94!U5A*!5ASB$B,#SS$%!J$,G$%:!i[B6:!W$X7$,&!-..L&!1:!C.j!T$A26#94!J#,G!5A94&!

G577! 7#94!G#$! /P`!+#7! /R`HY4,#B$%!J$#2!*$4,! Sa,!M#6*$! #%2$,$77#$,$%&!567! 7#$! #%!G$,!194A6$!+$45%G$62!

J$,G$%:!!

;++#6GA%B! Q! 8$#B2! G#$! G#G5U2#794$! A%G! *$24(G#794$! 1$#2$! G$,! M#6*)$,*#226A%B! #%! G$,! 194A6$:!

I52A,5%23%%$%!$,#%%$,%!7#94!G5,5%&!G577!G#$!4YAS#B72$!I$24(G$!+$#!G$,!;A7$#%5%G$,7$28A%B!*#2!M#6*!J5,&! M#6*$! 5%8A7$4$%!A%G! 7#$! 8A! +$7X,$94$%:!"$%%!*#2! M#6*! 5%G$,7! A*B$B5%B$%!JA,G$&!J5,! G57!

45AX27Y946#94! #%!M(,*!$#%$7![$,B6$#947!8A,! 6#2$,5,#794$%![(,65B$!(G$,!#%!M(,*!)(%!194,$#+X,(GAU2$%!

a+$,! M#6*$:! "$#2! 4#%2$%! 6#$B$%! @#B$%X,(GAU2#(%$%! *#2! 7X$8#S#794! S#6*#794$*! M(UA7! J#$! T,$4+A94!

794,$#+$%&!M#6*!4$,72$666$%!A%G!*#2!M#6**52$,#56!$VX$,#*$%2#$,$%:!!

!

;++:! Qd! @,#%%$,2$! h%2$,,#94275U2#)#2Y2$%! i;%B5+$%! #%! D,(8$%2&! <57#7d! <$S,5B2$&! G#$! %594! $#B$%$%!

;%B5+$%!*#%G$72$%7!$#%$%!1X#$6S#6*!5A7Sa4,6#94!+$7X,(94$%!45+$%&!%pCQKl!qA$66$d!W$X7$,&!-..L&!

1:!C0j!

1$#2$!13!

T57! 7#%G! 566$,G#%B7! B$%5A!G#$!h*B5%B7J$#7$%!*#2! M#6*&! G#$! )(%!G$,!I$4,4$#2! G$,! ;+#2A,#$%23%%$%!

+$)(,8AB2! J(,G$%! JY,$:! ;++#6GA%B! K! 8$#B2! G$A26#94&! G577! S#6*+$8(B$%$! Z5%G6A%B$%! J#$! 8:! <:! *#2!

M#6**52$,#56!$VX$,#*$%2#$,$%&!T,$4+A94!6$7$%b794,$#+$%!(G$,!M#6*!G,$4$%!#%!G$,!194a6$,3%%$%BA%72!

J$#2! )(,%$! 6#$B$%:! W$X7$,! U(**2! 8A! G$*! 1946A77&! G577! G#$! 5%B$J$%G$2$%! I$24(G$%! 8A,!

M#6*)$,*#226A%B!G57!194a6$,3%%$%#%2$,$77$!)$,S$46$%:!i[B6:!W$X7$,&!-..L&!1:!CKj!

!

!

;++:! Kd! [(%! 194a6$,3%%$%! B$Ja%7942$! S#6*7X$8#S#794$! ;,+$#27S(,*$%! #*!h%2$,,#942! i;%B5+$%! #%!

D,(8$%2&! <57#7d! <$S,5B2$&! G#$! %594! $#B$%$%! ;%B5+$%! *#%G$72$%7! $#%$%! 1X#$6S#6*! 5A7Sa4,6#94!+$7X,(94$%!45+$%&!%pCQKl!qA$66$d!W$X7$,&!-..L&!1:!CCj!

@#%! J#942#B$7! @,B$+%#7! G$,! <$S,5BA%B! #72! 5A94! G#$! T#7U,$X5%8! 8J#794$%! G$*! S#6*#794$%! A%G! G$*!

6#2$,5,#794$%!"#77$%!G$,!;+#2A,#$%23%%$%:!@7!8$#B2!7#94&!G577!7#$!2,(28!G$7!7946$942$%!;+794%$#G$%7!+$#!

S#6*#794$%! 3%4562$%! B6$#948$#2#B! 5AS! 6#2$,5,#794$*!\$+#$2! )#$6! )$,2,5A2$,!*#2! N#2$,52A,B$794#942$! A%G!

6#2$,5,#794$,! r724$2#U! 7#%G:! T57! 452! $#%$! ,$B$! G$A2794G#G5U2#794$! T#7UA77#(%! $%2S5942:! T$,!

T$A2794G#G5U2#U$,! h6S! ;+,545*! 8#$42! 5A7! G$%! T52$%! #%7B$75*2! G$%! 1946A77&! G577! 7#94! G#$! T$S#8#2$!

%#942!*#2!*5%B$6%G$*!3%2$,$77$!$,U6Y,$%!6577$%&!7(%G$,%!)#$6*$4,!*#2!G$,!*5%B$6%G$%!D,Y7$%8!G$7!

S#6*#794$%!I$G#A*7!#%!G$,!194A6$!8A!2A%!45+$%:!i[B6:!;+,545*&!-./.&!1:!-Kj!

;+B$7$4$%! )(%!G$%! 8#2#$,2$%!h%2$,7A94A%B$%! B#+2! U5A*!$*X#,#794$! M(,794A%B! 8A*!h%2$,,#942!*#2!

M#6*:!h*!G$%!1252A7!qA(!G$,!M#6*)$,*#226A%B! #*!h%2$,,#9427B$B$%725%G!T$A2794!B$%5A$,!S577$%!8A!

UE%%$%&!45+$!#94!*#94!G$,!S594G#G5U2#794$%!N#2$,52A,!8AB$J$%G$2:!3%!G$%!6$282$%!H54,$%!#72!7$4,!)#$6!

N#2$,52A,! 5A7! G$A2794G#G5U2#794$,! D$,7X$U2#)$! 8A*! =4$*5! M#6*! #*! T$A2794A%2$,,#942! XA+6#8#$,2!

J(,G$%:!@#%$!U6$#%$!5U2A$66$!;A7J546!G5)(%!Sa4,$!#94! #*!M(6B$%G$%!5%:!@7!B#+2!$#%#B$!=4$*$%4$S2$!

G$,!M5948$#2794,#S2$%! i8:! <:!U*6C'+&E"3%+45!Z$S2! -0Lb-./0!8A! WA,87X#$6S#6*$%&!E"*&E"3%+453-%"**'45%!

Z$S2! 0b-./0! 8A! @,8Y466#2$,52A,! A%G! M#6*&! 3T@! -b! -./-! 8A,! WA62A,! G$7! 1$4$%7j&! M594+a94$,! i8:! <:!

;+,545*&! -..Rj&! 15**$6+Y%G$! 8A,! M#6*G#G5U2#U! i8:! <:! W$X7$,&! -./.j&! 8546,$#94$! @#%8$65AS7Y28$! 8A!

S#6*#794$%! =4$*$%&! T$A2794G#G5U2#U`N$4,J$,U$! 8A,!I$G#$%G#G5U2#U! i8:! <:! M,$G$U#%B!O! W,(**$,! O!

1$#2$!14!

I5#J56G&! -./-j&! 8A*! M#6*! #%! G$,! N#2$,52A,G#G5U2#U! i<(BG56! O! W(,2$&! -./-j! A%G! 8A,! M#6*G#G5U2#U! #*!

iT$A2794jh%2$,,#942!i8:!<:!W5**$,$,&!-..R&!1X#$6*5%%!-.//j:!

XIS "1>UE98U144>52A!1U!&9543:;5249881:;4!

3*! ;66B$*$#%$%! 7#%G! 7#94! G#$7$! DA+6#U52#(%$%! 8A*!125%G!G$,! M#6*)$,*#226A%B! #*!T$A2794A%2$,,#942!

$#%#B:! T$,! \,A%G2$%(,! G$,! B$B$%JY,2#B$%! G$A2794G#G5U2#794$! N#2$,52A,! #72&! G577! M#6*! #*!

T$A2794A%2$,,#942! $#%! ! ]194522$%G57$#%_! iDS$#SS$,! O! 125#B$,&! -..P&! 1:! 0j! Sa4,2:! T#$! J#942#B72$%!

I$,U*56$!G$7!B$B$%JY,2#B$%!T$A2794A%2$,,#9427!8A*!M#6*!S577$!#94!4#$,!8A75**$%:!

"1>U!/>3!G9>L;252A!

M#6*$! $,S,$A$%! 7#94! )(,! 566$*! 8A! e$#2$%! $,4E42$,! ;%7X5%%A%B! A%G! ;AS,$BA%B! 8:! <:! )(,! G$%!

"$#4%59427S$,#$%! A%G! )(,! G$%! 1(**$,S$,#$%! B,(f$,! <$6#$+24$#2:! 1$4,! (S2! 452! G#$! 6A72)(66$!

W(*X(%$%2$!G$7!M#6*7945A$%7!#%!G$,!194A6$!G#$!MA%U2#(%!W#%G$,!A%G!HAB$%G6#94$!,A4#B8A72$66$%:!!

$1498/458E9861>U52A!

"$%%!M#6*!#*!M594!T$A2794!)(,U(**2&!G5%%!*$#72!567!N#2$,52A,)$,S#6*A%B&!J(+$#!$7!G5+$#!%#942!A*!

G#$! @#B$%72Y%G#BU$#2! G$7! M#6*7! B$42&! 7(%G$,%! A*! M#6*! 567! ]Na9U$%Sa66$,! (G$,! <$#B5+$! 8A*!

N#2$,52A,A%2$,,#942_!iDS$#SS$,!O!125#B$,&!-..P&!1:!0j:!T#$7$!MA%U2#(%56#7#$,A%B!G$7!M#6*7!J#,G!)(%!)#$6$%!

T$A2794G#G5U2#U$,3%%$%!U,#2#7#$,2:! i[B6:!5A94!"#%2$,72$#%$,&!-..0j!"(6SB5%B!194E,U4A+$,!72$662! S$72&!

G577! 7$6+72!J$%%! G#$! Y724$2#794$! ;A2(%(*#$! G$,! M#6*$! +$2(%2!J#,&! G#$! 2,5G#2#(%$66$! Z#$,5,94#$! G$,!

T5,+#$2A%B7S(,*$%!5AS,$942!$,4562$%!J#,G:!<$#![$,B6$#94$%!8J#794$%!<A94!A%G!M#6*!B$42!$7!G5%%!A*!

"$,U2,$A$! A%G! A*! G#$! M,5B$&! (+! G#$! ;G5X2#(%! B$6A%B$%! (G$,! *#776A%B$%! 7$#:! i[B6:! 194E,U4A+$,&!

-..0&!1:!//j!T57!I$G#A*!M#6*!J#,G!#%!>$652#(%!8A*!I$G#A*!<A94!)$,*#22$62!A%G!#*![$,B6$#94!G5*#2!

U5%%!$7!6$#942!8A!$#%$,!;+J$,2A%B!G$7!;AG#()#7A$66$%!U(**$%:!!

"1>U/2/>^39!

"$%%!5AS!M#6*$!%Y4$,!$#%B$B5%B$%!J#,G&!#72!$7!#%!M(,*!G$,!M#6*5%56c7$:!;A94!*$24(G#794!6$4%2!*5%!

7#94! 4#$,! 5*! I(G$66! G$,! N#2$,52A,5%56c7$! 5%:! M#6*7X,5946#94$! I#22$6! J$,G$%! #7(6#$,2! +$%5%%2! A%G!

+$794,#$+$%:! T5*#2! J#,G! G#$! G#SS$,$%8#$,2$! "54,%$4*A%B! B$794Y,S2:! \6$#948$#2#B! 7(66! GA,94! G57!

5%56c2#794$![$,S54,$%&!G#$!I5945,2!)(%!M#6*$%!GA,947945A2!J$,G$%:!eA7Y286#94!7(66!5+$,!G#$!,52#(%56$!

T#725%8#$,A%B! 5A94! G57! $*(2#(%56$! M#6*$,6$+$%! $%285A+$,%:! i[B6:! 194E,U74A+$,&! -..0&! 1:! //j! T$,!I$G#$%XYG5B(B$! Z(,72! T#945%8! 72$662! S$72&! G577! 24$(,$2#794`U(B%#2#)$! h%2$,,#9427U(%8$X2$! #*!

794A6#794$%!I$G#$%+$,$#94!)(,4$,,794$%&!G#$!$#%$,7$#27!8A,!T$*(2#)52#(%!G$,!194a6$,3%%$%!+$#2,5B$%!

A%G!5%G$,$,7$#27!)$,4#%G$,%&!G577!I$G#$%!567!IEB6#94U$#2!G$,! #%G#)#GA$66$%!;,2#UA652#(%!)$,725%G$%!

A%G!B$%a282!J$,G$%:!i[B6:!T#945%8&!-..-&!1:!-j!

T#$! h%8AS,#$G$%4$#2! *#2! G$,! (+$%! +$794,#$+$%$%! B$B$%JY,2#B$%! 1#2A52#(%! 8#$42! 7#94! GA,94! G#$!

S594G#G5U2#794$! N#2$,52A,:! "#$! *5%! *#2! G$%! T$S#8#2$%! A*B$4$%! 7(66&! J#,G! *(*$%25%! #%2$%7#)!

G#7UA2#$,2:!T#$!<5%G+,$#2$!G$,!;%7528XA%U2$!#72!B,(f:!D,#%8#X#$66!J#,G!G#$!<$794YS2#BA%B!*#2!M#6*!)(%!

G$,!T$A2794G#G5U2#U!567!7$4,!5%7946A77SY4#B!+$A,2$#62:!!

C2@27D652A3D52@49!678!"1>UE98U144>52A!1U!&9543:;5249881:;4!!

@7! B#+2! )#$6$! ;,2$%! )(%! M#6*$%&! G#$! #*! T$A2794A%2$,,#942! 24$*52#7#$,2! J$,G$%! UE%%$%! `!

T(UA*$%25,S#6*$&! "$,+$S#6*$&! IA7#U96#X7&! 1X#$6S#6*$:! <$7(%G$,7! 5%! G$%! N#2$,52A,A%2$,,#942! U5%%!

*5%!*#2! G$*!1X#$6S#6*! BA2! 5%7946#$f$%:!;%U%aXS$%! U5%%!*5%!4#$,! 8:! <:! 5%! @,8Y46X$,7X$U2#)$%&! G#$!

A%2$,794#$G6#94$%!;,2$%!G$,!'5,,52#(%&!M#U2#(%!O!"#,U6#94U$#2&!G$%!=$V27(,2$%+$B,#SS!A7J:!@#%!=$#6!G$,!

T$A2794G#G5U2#U! 72$662! G#$! '5,,52#(%! 567! $%2794$#G$%G$! \$*$#%75*U$#2! #%! G$%! I#22$6XA%U2:! 3*!

T$A2794A%2$,,#942! J$,G$%! G#$! A%2$,794#$G6#94$%! ;,2$%! G$7! @,8Y46$%7! #%! G$%! G,$#! 6#2$,5,#794$%!

\522A%B$%! @X#U&! Nc,#U! A%G! T,5*5! 24$*52#7#$,2:! ;A94! +$#*! M#6*! #72! G#$! ;,2! G$7! @,8Y46$%7! $#%!

Z5AX257X$U2:!@#%#B$!;A2(,3%%$%!$,J$#2$,%!G#$!6#2$,5,#794$!\522A%B72,#57!A%G!#%2$B,#$,$%!M#6*!567!$#%$!

J$#2$,$!1X#$65,2!G$,!'5,,52#(%:!i[B6:!8:!<:!W$X7$,&!-..L&!1:!-Cj!

1$#2$!15!

;%G$,$! G,a9U$%! 5A7&! G577! $#%$! $#%S594$! @,J$#2$,A%B! G$,! 6#2$,5,#794$%! \522A%B$%! A*! G$%! M#6*! 8A!

J$%#B! 7$#:! T$*! I$G#A*! M#6*! UE%%$! *5%! 5AS! G#$7$! ;,2! %#942! B$,$942! J$,G$%&! J$#6! G#$!

\$*$#%75*U$#2$%! 8A! g$G$,! G$,! 6#2$,5,#794$%! \522A%B$%! %A,! a+$,J#$B$%&! J$%%! (+$,S6Y946#94$!

I5f72Y+$!5%B$6$B2!J$,G$%:!;%!$#%$*!<$#7X#$6!J#,G!G57!G$A26#94:!T$,!h%2$,794#$G!8J#794$%!=4$52$,!

A%G!M#6*! #72&!G577!G$,!M#6*!J$G$,!a+$,!$#%$%!,$56$%!>5A*!)$,SaB2&! #%!G$*!B$7X#$62!J#,G&!%(94!a+$,!

5%J$7$%G$! 1945A7X#$6$,3%%$%&! G#$! 7X#$6$%:! 3*! M#6*! *A77! G$,! >5A*! 5AS! G$,! N$#%J5%G! 4$,B$72$662!

J$,G$%:! T#$! D$,7(%$%! 7#%G! $+$%S5667! D,(g$U2#(%$%:! @7! J#,G! ]566$7&! 5+$,! 5A94! J#,U6#94! 566$7&! 8A*!

e$#94$%_!iW$,%&!-./-&!1:!-/Rj:!I$4,!r4%6#94U$#2$%!B#+2!$7!*#2!G$%!$X#794$%!@,8Y46S(,*$%:!T(94!5A94!

4#$,! a+$,J#$B$%! G#$! h%2$,794#$G$:! @#%! $,4$+6#94$,! h%2$,794#$G! 6#$B2! 8:! <:! #%! G$,! 3%2$%7#2Y2! G$,!

S#6*#794$%!e$#94$%&!G#$!>$56#7*A7!7ABB$,#$,$%:!!

T#$!W(%7$kA$%8$%!G#$7$,!T#SS$,$%8!Sa,!G$%!N#2$,52A,A%2$,,#942!J$,G$%!)(%!D$2$,!?4,#72(X4!W$,%!567!

J$#2,$#94$%G!+$794,#$+$%:!@7!U5%%!%#942!A*!G#$!@,J$#2$,A%B!G$,!6#2$,5,#794$%!\522A%B$%!B$4$%&!J$#6!

#*! ?(*XA2$,8$#2562$,! Y724$2#794$! W(**A%#U52#(%! %#942!*$4,! GA,94! G57! <A94&! 7(%G$,%!*$G#56! )(,!

7#94!B$42d!!

@7! +$G5,S! $#%$,! h*(,#$%2#$,A%B! 4#%7#9426#94! G$,! Y724$2#794$%! W(*X$2$%8:! T$,! M#6*! J#,G! 8A*!

A%)$,8#942+5,$%!;,+$#27*52$,#56&!G$,!g5!7$#%$,!12,AU2A,!%594!$#%!*A62#*$G#56$7!D5U$2!#72&!%#942!%A,!J$#6!$,! B$794,#$+$%$7! A%G! B$7X,(94$%$7!"(,2&! \$,YA794! A%G!IA7#U&! <#6G&! M(,*!A%G! M5,+$! 7c%24$2#7#$,2&!

7(%G$,%! J$#6! $,! )$,*#22$67! G$,! D,(GAU2#(%7`! A%G! >$8$X2#(%75XX5,52A,! G#$! Sa,! G$%! +#74$,#B$%!

=$V2+$B,#SS! U(%72#2A#$,$%G$! 1#%%U(%7#72$%8! A%G! `6#%$5,#2Y2! GA,94! $#%$! G#7U(%2#%A#$,6#94$!

1#%%5UUA*A652#(%!A%G!`)$,%$28A%B!$,7$282:!iW$,%&!-./-&!1:!-/Lj!

@,! +$2(%2&! G577! G#$! *A62#*$G#56$! <$7(%G$,4$#2! G$7! M#6*7! $#%$,! S#6*7X$8#S#794$%! 7$*#(2#794$%!

;AS5,+$#2A%B! +$G5,S! A%G! S(,G$,2! U(%7$kA$%2! $#%$! ]S#6*#794$! 1$4794A6$_! iW$,%&! -./-&! 1:! --.j:! T#$!

S#6*7X$8#S#794$! <$45%G6A%B!G$7! M#6*7! #72! %(2J$%G#B&! J$#6! G$,! M#6*! 5A7! e$#94$%! +$72$42&! G#$! X,#*Y,!

]5AB$%`!A%G!(4,$%SY66#B_!iW$,%&!-./-&!1:!--Cj!7#%G!A%G!7(*#2!7X,5946#94!%#942!)$,*#22$6+5,!7#%G:!D$2$,!

?4,72(X4!W$,%!+$794,$#+2&!G577!G57!@,8Y46$%! #%!S#6*#794$%!<#6G$,%!$#%$%!SA%G5*$%256$%!"$947$6! #*!

M(UA7!+$G$A2$2&!J$#6!$7!7#94!A*!$#%!e$#94$%7c72$*!45%G$62&!G57!*#2!<#6G$,%!A%G!=E%$%!5,+$#2$2:!!

;A94! 5%G$,$! ;A2(,3%%$%! +$2(%$%! *$4,! G#$! h%2$,794#$G$! 8A! G$%! 6#2$,5,#794$%! \522A%B$%! 567! G#$!

\$*$#%75*U$#2$%!G5*#2:!H(594#*!DS$#SS$,!A%G!I#945$6!125#B$,!(,2$%!G#$!T$S#8#2$!G$,!M#6*)$,*#226A%B!$2J5!#%!G$,!*5%B$6%G$%!>$S6$V#(%!G$,!)#7A$66$%!WA62A,:!i[B6:!DS$#SS$,!O!125#B$,&!-..P&!1:!-j!W5*X!A%G!

>a7$6! )$,B6$#94$%! 8A*! <$#7X#$6! ]$#%$! T$A27946$4,$,#%&! G#$! %A%! X6E286#94! G57! =4$*5! sM#6*#794$7!!

@,8Y46$%t!+$45%G$6%!*A77!i:::j!*#2!$#%$,!N$4,$,#%!Sa,!I524$*52#U&!G#$!#*!D4c7#UA%2$,,#942!$#%B$7$282!

J#,G:!;A94!J$%%! S#6*#794$!A%G! 6#2$,5,#794$! 12,AU2A,$%!\$*$#%75*U$#2$%! 5ASJ$#7$%&! A%2$,794$#G$%!

7#94!#4,$!e$#94$%7c72$*$!G(94!B,A%G7Y286#94:_!i!W5*X!O!>a7$6&!1:!Lj!!

XIX *:;>5336L>A9852A92!

=,(28! G$,! \$B$%JY,2#BU$#2! +$J$B2$,! <#6G$,! #%! G$%!I$G#$%! A%G! 2,(28! G$,!"#942#BU$#2! G$7! M#6*7! Sa,!

gA%B$! I$%794$%! B#+2! $7! #%! G$,! 194A6$! U$#%$! 5GYkA52$! <$794YS2#BA%B! G5*#2:! T$,! <$B,#SS!I$G#$%U(*X$2$%8!J#,G! #%! G$,! H3I`12AG#$! -./-! 5A77946#$f6#94! 5AS! G#$!'$A$%!I$G#$%!+$8(B$%! A%G!

G5+$#! #%! 8J$#! eA75**$%4Y%B$! B$72$662:! T57! ;AB$%*$,U! 6#$B2! $#%$,7$#27! 5AS! G$,! 2$94%#794$%!

<$4$,,794A%B!G$7!?(*XA2$,7!A%G!5%G$,$,7$#27!5AS!G$*!i,#942#B$%j!h*B5%B!*#2!G$%!'$A$%!I$G#$%:!

T#$! ?45%9$%! A%G! )(,! 566$*! G#$! >#7#U$%! G$,! I$G#$%%A28A%B! J$,G$%! 24$*52#7#$,2:! F+J(46! G#$!

5662YB6#94$! D,Y7$%8! +$J$B2$,! <#6G$,! G$A26#94! J#,G&! B$42! $7! 5%! U$#%$,! 12$66$! A*! M#6*! 567! )#7A$66$!

W(**A%#U52#(%!A%G!WA62A,!G$7!1$4$%7:!!

T#$! ;,2! G$,! M#6*)$,*#226A%B! B$42! 5%! G$%! 194a6$,3%%$%#%2$,$77$%! )(,+$#:! =4$(,#$6572#B$!

h%2$,,#9427B$72562A%B! a+$,J#$B2&! S#6*#794$! Z5%G6A%B7(,#$%2#$,A%B! 8:! <:! G57! 1$6+724$,72$66$%! )(%!

I$G#$%X,(GAU2$%! 72$42! 794A6#794! #*! Z#%2$,B,A%G:! T#$7$7! T$S#8#2! G$,! 4YAS#B! +$(+5942$2$%!

[$,%5946Y77#BA%B!S#6*#794$,!<#6G$,!*E942$!#94!*#2!*$#%$*!h%2$,,#9427)(,45+$%!+$5,+$#2$%:!h*!G#$!

Z5%G6A%B7X56$22$! G$,! HAB$%G6#94$%! #*! h*B5%B!*#2! G$%! '$A$%! I$G#$%! 8A! $,J$#2$,%&! *E942$! #94!

1$#2$!16!

GA,94! G#$! @#B$%X,(GAU2#(%! )(%! M#6*$%! #*! h%2$,,#942! G$%! 5U2#)$%! h*B5%B!*#2! G$%! 5AG#()#7A$66$%!

I$G#$%!A%2$,72a28$%:!!

T#$!5%!*$#%$*!194A6725%G(,2!BY%B#B$!h%2$,,#9427X,5V#7!8A*!<$,$#94!M#6*!#*!T$A2794A%2$,,#942!G$9U2!

7#94!*#2! G$*! #%! G$,! G$A2794G#G5U2#794$%! N#2$,52A,! +$794,#$+$%$%! 1252A7! qA(d! 3*! ;%7946A77! 5%! G#$!

B$*$#%75*$! N$U2a,$! $#%$7! <A94$7! J#,G! G#$! N#2$,52A,)$,S#6*A%B! B$8$#B2:! I5%! 452! 7#94! GA,94! G#$!

N$U2a,$!GA,94B$*a42&!A%G!U(**2!$%G6#94!8A*!6A72)(66$%&!$%27X5%%$%G$%!=$#6!`!%#942!8A6$282!J$#6!G#$!

[$,S#6*A%B!8J$#!h%2$,,#942772A%G$%! #%!;%7X,A94!%#**2!A%G!7(*#2!$#%$!J#66U(**$%$!;+J$9476A%B!

#*! 7(%72! )(%! U(B%#2#)$%! 3%4562$%! G(*#%#$,2$%! 194A625B! G$,! HAB$%G6#94$%! #72:! T#$! 5+7946#$f$%G$!

h%2$,,#94275,+$#2! +$794,Y%U2! 7#94! *$#72! 5AS! $#%! )(*! N$4,$,b)(%! G$,! N$4,$,#%! *(G$,#$,2$7!

h%2$,,#9427B$7X,Y94&! #%! G$*! #%45626#94$! ;+J$#94A%B$%! G$,! +$#G$%! T5,+#$2A%B7S(,*$%! S$72B$72$662!

A%G! +$794,#$+$%!J$,G$%:! T5+$#! U(**2! $7! 5A94! #%! *$#%$*! h%2$,,#942! *$#72! 8A! $#%$,! ;ASJ$,2A%B!

+8J:!;+J$,2A%B!$#%$,!G$,!+$#G$%!T5,+#$2A%B7S(,*$%:!T5*#2!J5,!#94!794(%!65%B$!A%8AS,#$G$%:!TA,94!

G#$! <$794YS2#BA%B! *#2! G$,! G#G5U2#794$%! N#2$,52A,! #72! *#,! U65,$,! B$J(,G$%&! G577! #94! G#$! ;,2! G$,!

M#6*)$,*#226A%B! B,A%G7Y286#94! 5%G$,7! B$72562$%! *A77&! J$%%! #94! G#$! @#B$%72Y%G#BU$#2! G$7! I$G#A*7!

M#6*!)$,*#22$6%!J#66:!!

394!J$,G$!*$#%$%!<6#9U!567(!5AS!G#$!h%2$,794#$G$!8A!G$%!6#2$,5,#794$%!\522A%B$%!,#942$%&!A*!G57!8A!

S577$%&! J57! %A,! M#6*! 6$#72$%! U5%%:!T#$!;%7946A77SY4#BU$#2! 5%!G$%! N#2$,52A,A%2$,,#942! 7(66! GA,94!G$%!

M(UA7! 5AS! 1X#$6S#6*$! B$B$+$%! 7$#%:!"57! G#$! \$72562A%B7*#22$6! +$2,#SS2&! B$42! $7! *#,! G5,A*&! A6+6("!S#6*7X$8#S#794$!MY4#BU$#2$%!8A!)$,*#22$6%:!

T57! u+$,J#$B$%! 24$(,$2#794`U(B%#2#)$,! h%2$,,#9427U(%8$X2$! 6Y772! 7#94! 5A94! #%! G$,!

G$A2794G#G5U2#794$%!N#2$,52A,!+$(+5942$%:!<$#!G$,!M#6*5%56c7$!+6$#+2!G#$!M594G#G5U2#U!*$#72!72$4$%:!

"$%%! 45%G6A%B7(,#$%2#$,2$! h%2$,,#9427)(,7946YB$! X,Y7$%2#$,2! J$,G$%&! 7#%G! 7#$! a+$,J#$B$%G! #*!

*a%G6#94$%&!794,#S26#94$%!(G$,!78$%#794$%!<$,$#94!5%B$7#$G$62:!i[B6:!W$X7$,&!-./.j![$,$#%8$62!B#+2!$7!

45%G6A%B7(,#$%2#$,2$!S#6*#794$!W(%8$X2$:!"$%%!$7!A*!G#$!TA,94Sa4,+5,U$#2!#*!h%2$,,#942!B$42&!J#,G!

566$,G#%B7!4YAS#B!5AS!G#$! SY94$,a+$,B,$#S$%G$!eA75**$%5,+$#2!*#2!G$%!MY94$,%!WA%72! i<#6G%$,#794$!

@,8#$4A%Bj!A%G!IA7#U!)$,J#$7$%:!!

T#$! G$A2794G#G5U2#794$! N#2$,52A,! 8A*!=4$*5! M#6*!452! Sa,!*#94! $#%#B$! M,5B$%! 5ASB$J(,S$%d!"57! #72!

G57! 7X$8#S#794! M#6*#794$v! "57! +$#%4562$%! G#$! W(*X$2$%8+$B,#SS$! 8A*! <$,$#94! M#6*! J#$! 8:! <:!

I$G#$%U(*X$2$%8! A%G! 1X#$6S#6*U(*X$2$%8v! "$694$! 7$*#(2#794$%! I(G$66$! B#+2! $7&! A*! M#6*! 8A!

+$794,$#+$%v!I#2!J$694$*!=$V2+$B,#SS!J#,G!B$5,+$#2$2v!h*!G#$7$!SA%G5*$%256$%!M,5B$%!8A!U6Y,$%&!

J$,G$! #94! *#94! #*! M(6B$%G$%! $#%B$4$%G$,! G5*#2! +$794YS2#B$%&! J#$! M#6*! #%! G$%! "#77$%7945S2$%!

+$45%G$62!J#,G:!"$#6!$7!+$#!*#,!A*!G57!7X$8#S#794!M#6*#794$!B$4$%!7(66&!*E942$!#94!4$,5A75,+$#2$%&!

J(,#%!G#$!J$7$%26#94$!T#SS$,$%8!8A*!<A94*$G#A*!+$72$42:!!

!

1$#2$!17!

Z "#$%!#-!&'-!W#**'-*+,C")'-!!

3%!G#$7$*!W5X#2$6!7(66!%Y4$,!+$6$A942$2!J$,G$%&!J$694$!J#77$%7945S26#94$%!T#7UA,7$!$7!A*!G$%!M#6*!

B#+2:! @7! B#62! M#6*! 567! $#B$%$7!I$G#A*! $,%72! 8A! %$4*$%:! h*! G#$7$*! ;%7X,A94! B$,$942! 8A! J$,G$%&!

*E942$!#94!4$,5A7S#%G$%&!J57!G57!1X$8#S#794$!G$7!I$G#A*7!M#6*!5A7!G$,!1#942!G$,!"#77$%7945S2$%!#72:!

T5+$#! *A77! 5A94! G$,! ,5G#U56$! "$947$6! )(*! 194,#S26#94$%! 8A*! <#6G6#94$%&! G$,! 7#94! #%! A%7$,$,!

\$7$667945S2! )(668(B$%!452&! B$%5A$,! #%! G$%! <6#9U! B$%(**$%!J$,G$%:!"$#6! #*! 194A6+$,$#94!A%G! #*!

M594!T$A2794!M#6*!8A*!M$6G!G$,!I$G#$%!B$8Y462!J#,G&!4562$! #94! $7! Sa,!J#942#B&!G$%!<$B,#SS!I$G#A*!

A%G! G#$! G5*#2! $#%4$,B$4$%G$%! D5,5G#B*$%J$947$6! %Y4$,! 8A! +$6$A942$%:! ;+7946#$f$%G! B$42! $7! #%!

G#$7$*!W5X#2$6!G5,A*&!J#$!7#94!5A7!G#$7$%!24$(,$2#794$%!\,A%G65B$%!$#%!W(*X$2$%8+$B,#SS!Sa,!G$%!

M#6*!5+6$#2$%!6Y772:![(,5%B$72$662!7#%G!%(94!$#%#B$!\,A%G+$B,#SS$!G$7!M#6*7:!

ZIQ &98!G9A8166!"1>U!

%/4981/>!

h,7X,a%B6#94!+$8$#94%$2!M#6*!G#$!Ga%%$&!6#942$*XS#%G6#94$!<$794#942A%B!$#%$7!e$66A6(#G72,$#S$%7:!T57!

5A7!G$*!@%B6#794$%!725**$%G$!"(,2!M#6*!4$#f2!]Ga%%$!194#942_:! iW6AB$&! -..-&!1:!-R0j!@#%! 65%B$,&!

*5B%$2#794!+$794#942$2$,! !WA%7272(SS`12,$#S$%! #72!G57!1X$#94$,*$G#A*!G$,!5%56(B$%!M#6*X,(g$U2#(%:!

T#$!e$66A6(#G`M#6*7XA6$!J#,G!5A94!4$A2$!%(94!#*!W#%(!+$%A282:!3**$,!4YAS#B$,!J#,G!7#$!g$G(94!GA,94!

G#B#256$!1X$#94$,*$G#$%!$,7$282&!+$#!G$%$%!G#B#256$!1#B%56$!5AS!T[T7&!M$72X6522$%!(G$,!M6574`W5,2$%!

B$7X$#94$,2!J$,G$%:!

G9?9A52A31>>531L2!

h%5+4Y%B#B!)(*!1X$#94$,*$G#A*!+$8$#94%$2!G$,!<$B,#SS!M#6*!+$J$B2$!<#6G$,:!TA,94!G#$!=,YB4$#2!G$7!

*$%7946#94$%!;AB$7!)$,794*$68$%!@#%8$6+#6G$,&!G#$!,5794!%594$#%5%G$,!X,(g#8#$,2!J$,G$%&!8A!$#%$*!

U(%2#%A#$,6#94$%!;+65AS:!;+!$#%$,!<#6GS,$kA$%8!)(%!95:!/-!<#6G$,%!X,(!1$UA%G$!$,6$+$%!J#,!G$%!;+65AS!

G$,!<#6G$,!567!<$J$BA%B&!5+!95:!/K!`!/P!<#6G$,%!X,(!1$UA%G$!%$4*$%!J#,!G#$7$!567!S6a77#B!J54,:!]H$G$!

<#6G5+S(6B$&!G#$!567!S6a77#B$!<$J$BA%B!$,794$#%2&!U5%%!4$A2$!A%5+4Y%B#B!)(*!)$,J$%G$2$%!I$G#A*!

567!M#6*!+$8$#94%$2!J$,G$%:_!!i1X#$6*5%%&!-.//&!1:!//j!

C5=1LE1359>>93!%9=15U!

M#6*! #72! $#%! 5AG#()#7A$66$7! I$G#A*! `! (S2! 5+B$Ua,82! 567! ;[`I$G#A*! +$8$#94%$2:! @,! )$,+#%G$2! G57!

5AG#2#)$! A%G! G57! )#7A$66$! e$#94$%7c72$*:! T57! [#7A$66$! 6Y772! 7#94! GA,94! 7X$8#S#794$! W,#2$,#$%!

+$794,$#+$%:! <#6G6#94$! ;%56c7$U52$B(,#$%! 7#%Gd! ! @#%72$66A%B7B,Ef$&! W5*$,5X$,7X$U2#)$&! M5,+$&!

M(,*52&! N#942&! W(*X(7#2#(%&! T$%(252#(%bW(%%(252#(%&! W5*$,5+$J$BA%B$%&! 194%#22! A%G! I(%25B$:!

;AG#2#)$7! U5%%! #*! M#6*! 567! 1(A%G2,59U&! \$,YA794! A%G! B$7X,(94$%$! 1X,594$! )(,U(**$%! A%G!

A%5+4Y%B#B! )(%! G$%! +#6G6#94$%! @6$*$%2$%! A%2$,7A942!J$,G$%:! M,$G$U#%B&! W,(**$,! A%G!I5#J56G7!

T$S#%#2#(%! 65A2$2d! ];[`I$G#$%! 6577$%!7#94!5A7! 2$94%#794!$,8$AB2$%![$,+#%GA%B$%!)(%! i#%!G$,! >$B$6j!

+$J$B2$%!<#6G$,%!A%G!=E%$%!+$B,$#S$%:_!iM,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!1:!/CQj!=,(28!G$,!

<$794,Y%UA%B! 5AS! G#$! 2$94%#794$! @,8$ABA%B! G$,! <#6G$,! A%G! =E%$! B#+2! $7! $#%$! +,$#2$! D56$22$! 5%!

5AG#()#7A$66$%!I$G#$%:!

"1>U13:;9!J92893!

M#6*! +$8$#94%$2! )#$6$! A%2$,794#$G6#94$! ;,2$%! +$J$B2$,! <#6G$,! 8:! <:! 1X#$6S#6*$&! T(UA*$%25,S#6*$&!

M$,%7$47$%GA%B$%!$29:!J$694$!J#$G$,A*!$#%$![#$68546!7X$8#$66$,!\$%,$7!A*S577$%:!I#945$6!W65%2!452!G#$!8546,$#94$%!M#6*5,2$%!7c72$*52#7#$,2:!T$,!5+B$+#6G$2$!M#6*U(*X577&!G$,!8A,!@#%(,G%A%B!G$7!M#6*7!

7(! B$G,$42! J$,G$%! 7(662$&! G577! G#$! 8A2,$SS$%G$%! <$B,#SS$! a+$,$#%5%G$,! 72$4$%&! )$,G$A26#942! G#$!

[#$6S562!G$7!<$,$#947!M#6*!*#2!566!7$#%$%!I#794S(,*$%:!i[B6:!W65%2!O!1X#$6*5%%&!-..P&!1:-/j!

!

!!

1$#2$!18!

!

!

;++:!Ld!M#6*U(*X577!%594!$#%$*!W6577#S#U52#(%7*(G$66!*#2!P!;7X$U2$%!iqA$66$d!W65%2!O!1X#$6*5%%&!

-..P&!1:-/j!

M#6*!#72!$#%!a+$,!4A%G$,2!H54,$!562$7!I$G#A*:!T$,!$,72$!i12A**jM#6*! #72!@%G$!G$7!/R:!H54,4A%G$,27!

$%2725%G$%&! G$,! =(%S#6*! /R-Q:! h%B$SY4,! A*! G#$7$6+$! e$#2! 7#%G! G#$! $,72$%! 5AG#()#7A$66$%!

M$,%7$4a+$,2,5BA%B$%! B$B6a9U2:! '594! G$*! 8J$#2$%! "$62U,#$B! #72! M$,%7$4$%! 8A*! I577$%*$G#A*!

B$J(,G$%:!Z$A2$!7#%G!+$J$B2$!<#6G$,! #*!*A62#*$G#56$%![$,+A%G!*#2!794,#S26#94$%&!5UA72#794$%!A%G!

)#7A$66$%!3%S(,*52#(%$%!$#%!%#942!*$4,!J$B8AG$%U$%G$,!<$725%G2$#6!A%7$,$,!I$G#$%65%G7945S2:!!

1$#2$!19!

ZIS "1>U?133923:;/64!

[(%!;%S5%B!5%!B5+!$7!8J$#!U(%2,Y,$!;ASS577A%B$%!)(%!M#6*!`!$#%$!,$56#72#794$&!G#$!;+6YAS$!*EB6#9472!

J#,U6#94U$#27%54$! 5+8A+#6G$%! )$,7A942$&! A%G! $#%$! S5%2572#794$! 12,E*A%B&! G#$! G5)(%! 5A7B#%B&! G577!

M#6*!$#%$%!G5,a+$,!4#%5A7B$4$%G$%!Ua%726$,#794$%!"$,2!+$7#282:!i[B6:!1X#$6*5%%&!-../&!1:!/0j!T#$7$!

+$#G$%! 12,E*A%B$%! $V#72#$,2$%! X5,566$6! 8A$#%5%G$,! A%G! 5,+$#2$2$%! B$B$%$#%5%G$,:! T$,!

\,A%G752872,$#2!J5,!%#942!%$A:!1$#2!G$,!@,S#%GA%B!G$,!M(2(B,5S#$!A*!G#$!I#22$!G$7!/R:! H54,4A%G$,27!

B5+! $7! #4%! 8J#794$%! M(2(B,5S#$! A%G! I56$,$#:! 3%! G$,! M#6*J#77$%7945S2! JA,G$! G$,! 12,$#2! +6(f!J$#2$,B$Sa4,2:! @,72! GA,94! G$%! @#%S6A77! 5%G$,$,! "#77$%7945S2$%! U(%%2$! G#$! M#6*24$(,#$! 5A7! G$,!

65%BgY4,#B$%!T$+522$&!(+!M#6*!T(UA*$%252#(%!G$,!"#,U6#94U$#2!(G$,!WA%72!7$#&!5A772$#B$%:!

ZISIQ $12A51341@!52=!*9U1L41@!

ZISIQIQ "1>U!/>3!*D8/:;9!!

N#%BA#72$%! A%G! 1$*#(2#U$,! 6#$S$,2$%! #%! G$%! /RK.$,! H54,$%! $%2794$#G$%G$! 3*XA67$&! #%G$*! 7#$!

$*X#,#794`G$7U,#X2#)$! [$,S54,$%! #%! G#$! M#6*24$(,#$! $#%+,5942$%:! i[B6:! ;6+$,7*$#$,&! -..-&! 1:/Cj! 1#$!

B5+$%!G$,!;A7$#%5%G$,7$28A%B!$#%$!$%2794$#G$%G$&!%$A$!<6#9U,#942A%B:!T#$!<$794,$#+A%B!G$7!M#6*7!

JA,G$!8A*!8$%2,56$%!;%6#$B$%:!!

T57![$,+#%G$%G$!G$,!G$7U,#X2#)$%!;%7Y28$! #72!G#$!W52$B(,#$!G$,!H,*645"! `!J$%%!5A94!5AS!S#6*#794$,!

@+$%$:! r4%6#94! $#%$,! 6#%BA#72#794$%! ;%56c7$! B#%B! $7! G5,A*&! G$%! M#6*! #%! 7$#%$! $#%8$6%$%!

S#6*7X,5946#94$%! ;%2$#6$! 8A! 8$,6$B$%&! $V5U2! 8A! 5%56c7#$,$%! A%G! G5GA,94! $#%$%! eAB,#SS! 5AS! G#$!

<$G$A2A%B!G$7!M#6*7!8A!+$U(**$%:!T#$7$!*$24(G#794$!<$794,Y%UA%B!4(62$!G#$!M#6*J#77$%7945S2$%!

5A7! $#%$*! eA725%G! G$7! A%X,(GAU2#)$%! 12#66725%G7! 4$,5A7:! T#$! $%2794$#G$%G$! @,U$%%2%#7! J5,&! G577!

M#6*!%594!$#B$%$%!>$B$6%!SA%U2#(%#$,2!A%G!7#94!$#B$%$,!\$72562A%B7*#22$6!+$G#$%2:!!

T$,! '5942$#6! J5,&! G577! *#2! G$,! ;%56c7$! B6$#948$#2#B! $#%$! u+$,%54*$! )(%! 1X,594)(,72$66A%B$%!

$#%4$,B#%B:![(%!*$4,$,$%! !;A2(,$%! i)B6:! 8:<:! ;6+$,7*$#$,!-..-&! W65%2!O!1X#$6*5%%&!-..Pj!J#,G!5AS!

G#$! D,(+6$*52#U! G$7! <$B,#SS7! _M#6*7X,594$_! 4#%B$J#$7$%:! 3,,$Sa4,$%G! #72! G#$7$,! ;A7G,A9U! G$7456+&!

J$#6!7#94! 6#%BA#72#794$!<$B,#SS6#94U$#2$%!%#942!`!J#$!G#$!<$8$#94%A%B!SY67946#94$,J$#7$!%54$6$B2!`!$#%7!

8A! $#%7! 5AS! G$%! M#6*! a+$,2,5B$%! 6577$%:! ;%! $#%$*! <$#7X#$6! J#,G! G57! 794%$66! G$A26#94d! T$,! <$B,#SS!

@#%72$66A%B!#72!$#%!S#6*#794$,!M5942$,*#%A7&!G$,!G#$!1A**$!G$,!@#%8$6+#6G$,!(4%$!h%2$,+,$94A%B!)(%!

$#%$*!194%#22!+#7!8A*!%Y9472$%!194%#22!!+$8$#94%$2:!i[B6:!;++:!Pj!T#$!@#%72$66A%B!B#62!567!G#$!]U6$#%72$!

A%2$,794$#G+5,$!A%G!+$G$A2A%B72,5B$%G$!@#%4$#2!G$7!M#6*7:_!iW5*X!O!>a7$6&!-.//&!1:/0j!

!

!

;++:!Pd!T#$!M#6**(%25B$!A%G!#4,$!@6$*$%2$!iqA$66$d!W65%2!O!1X#$6*5%%&!-..P&!1:!/-Pj!

@%2794$#G$%G! #72&! G577! "E,2$,! %#942! B6$#94+$G$A2$%G! *#2! @#%72$66A%B$%! 7#%G! A%G! 1Y28$! %#942! *#2!

1$kA$%8$%!B6$#94B$7$282!J$,G$%!UE%%$%:!194(%!G$,!M#6*7$*#(2#U$,!?4,#72#5%!I$28!452!#%!G$,!/RK.$,!

H54,$%! S$72B$72$662&!G577!]G#$!e546!G$,!*EB6#94$%!@#%72$66A%B$%!A%$%G6#94! #*!\$B$%7528! 8A!G$,!e546!

G$,!"E,2$,! $#%$,!1X,594$! #72:_! iI$28&! /RKP&!1:!0-Rj!T#$! S#6*#794$!@#%72$66A%B!Y4%$62! 65A2!I$28! $4$,!

$#%$,! B$75*2$%! )$,+567X,5946#94$%! rAf$,A%B! A%G! %#942! $#%$*! +6(f$%! "(,2:! @7! B#+2! J$#2$,$!

1$#2$!20!

+$G$A275*$!h%2$,794#$G$!8A,!1X,594$:!@#%72$66A%B$%!7#%G!8:!<:!)(*!M#6*$*594$,!$,SA%G$%&!JY4,$%G!

G#$!"E,2$,!+$,$#27!#%!$#%$*!N$V#U(%!$V#72#$,$%:!i[B6:!I$28&!/RKP&!1:!0-Rj!eA7Y286#94!#72!$#%$!@#%72$66A%B!

)(%!$#%$,![#$68546!S#6*#794$,!\$72562A%B7*EB6#94U$#2$%!*#2+$72#**2:!T57!7#%G!8:!<:!<$6#942A%B&!T5A$,!

G$,! @#%72$66A%B&! M5,+B$+A%B&! W5*$,5X$,7X$U2#)$&! @#%72$66A%B7B,Ef$&! M#BA,$%+$J$BA%B&!

W5*$,5+$J$BA%B!$29:!@7!J#,G!7$4,!G$A26#94&!G577!*5%!.'(=&6(+&H,*645"!!%A,!*$25X4(,#794!5ASS577$%!

U5%%!A%G!G#$!u+$,2,5BA%B!6#%BA#72#794$,!@#%4$#2$%!%A,!7$4,!(+$,S6Y946#94!SA%U2#(%#$,2:!

ZISIQIS "1>U!/>3!+L=9!

T#$!1$*#(2#U!6#$S$,2$!$#%$!5%G$,$!<$B,#SS6#94U$#2!567!G#$!N#%BA#72#U:!h*+$,2(!@9(!567!1$*#(2#U$,!452!G$%!

<$B,#SS! ]S#6*#794$,! ?(G$_! i@9(&! /RKP&! 1:! 0.Qj! B$X,YB2:! Z#$,! J#,G! G#$! 'Y4$! 8A,! 1X,594$! +$JA772!

)$,*#$G$%:!@9(!*$#%2!5A7G,a9U6#94!$#%$%!5Af$,7X,5946#94$%!W(**A%#U52#(%79(G$:!i[B6:!@9(&!/RKP&!1:!

0.Kj!@,!B$42!G5)(%!5A7&!G577!7#94!<#6G$,!A%G!+$J$B2$!<#6G$,!%#942!5AS!1X,594$!8A,a9USa4,$%! 6577$%&!

7(%G$,%!G577!7#$!7$6+72Y%G#B$!e$#94$%7c72$*$!*#2! #4,$%!$#B$%$%!7X$8#S#794$%!?(G$7!7#%G:!T57!4$#f2&!

G577! S#6*#794$! e$#94$%! %594! #4,$%! $#B$%$%! >$B$6%! (,B5%#7#$,2! 7#%G! A%G! $#%$! $#B$%$! ;,2! G$,!

W(**A%#U52#(%!+$7#28$%&!G#$!%#942!5%56(B!8A,!)$,+56$%!1X,594$!#72:!!

T$,!<$B,#SS!V1)"!+$#%4562$2!;3(%3*"(("&V1)"+!i8:!<:!B$7$667945S26#94!2,5G#$,2$7![$,4562$%j&!;G-+%("*'+45"&V1)"+&!G#$!5A94!#%!5%G$,$%!WA%72S(,*$%!)(,U(**$%!i8:!<:!+$#*!=4$52$,j!A%G!<'(=+,"/'<'+45"&V1)"+!

i8:! <:! W5*$,5&! I(%25B$j:! @#%! e$#94$%! +$7#282! 567(! *$4,$,$! T#*$%7#(%$%&! J(+$#! G$,! M#6*! $#%$!

7X$8#S#794$!M(,*!A%G!;,2!G$7!@,8Y46$%7!452&!G#$!$#%$!7X$8#S#794$!M(,*!G$,!;AS5,+$#2A%B!)$,65%B2:!!

TA,94!G#)$,7$!\$72562A%B7*#22$6!J$,G$%!G#$! S#6*#794$%!e$#94$%! 41)'"*%&!567(! )$,7946a77$62&!A*!)(*!

<$2,5942$,! J#$G$,! )"41)'"*%&! 567(! $%27946a77$62&! 8A! J$,G$%:! @9(! A%2$,794$#G$2! 5A94! 8J#794$%!

S#6*#794$*! A%G! U#%$*52(B,5S#794$*! ?(G$:! @,! *$#%2! *#2! <'(='+45"=& V1)"! G57! S#6*#794$! <#6G&! G57!

$#B$%$%! @,8Y46,$B$6%! G$,! W(**A%#U52#(%! S(6B2:! T$,! S#6*#794$! ?(G$! #72! G#$! \,A%G65B$! Sa,! G$%!

U#%$*52(B,5S#794$%! ?(G$&! G$,! G57! U(*X6$V$! \$SaB$! *$4,$,$! ?(G$7! +$#%4562$2:! "$#6! S#6*#794$!

e$#94$%!8A75**$%!!J#,U$%!A%G!*#2$#%5%G$,!1#%%!$,8$AB$%&!$%272$42!+$#*!<$2,5942$,!G$,!@#%G,A9U&!

G$,!M#6*!7$#!J#,U6#94U$#27B$2,$A!A%G!B65A+45S2&!(+J(46!$,!U(%72,A#$,2!#72:!

M#6*#794$!?(G$7!7#%G!G#$!G$*!M#6*!$#B$%$%!;,+$#27S$6G$,:!T$,!S#6*#794$!h*B5%B!*#2!e$#2&!>5A*!A%G!

<$J$BA%B! 7945SS2! $#%$! <#6GY724$2#U&! G#$! g$%7$#27! G$,! 1X,594$! 6#$B2! A%G! G#$! <#6G2,5G#2#(%$%! 7945SS2:!

<#6GS#%GA%B$%!B,(f$,! M#6*$!J$,G$%! ,$8#X#$,2!A%G!567! <#6GS(6B$%! #%!%594S(6B$%G$%!M#6*$%!8#2#$,2:!1#$!

45+$%! GA,94! #4,$! +#6G6#94$! 1ABB$72#(%7U,5S2! ]@#%S6A77! 5AS! G57! M#6*,$X$,2(#,$! G$,! %Y9472$%!

H54,8$4%2$:_!iW$,%&!-./-&!1:!--Lj!

%L24/A9!

;67! ,$#%! S#6*7X$8#S#794$,! ?(G$! B#62! G#$! I(%25B$:! T57! #72! G#$! ;,2&! #%! G$,! M#6*+#6G$,! GA,94! 194%#22$!

5%$#%5%G$,B$SaB2!J$,G$%:!T#$!I(%25B$!6$%U2!G$%!eA7945A$,+6#9U:!!

W$#%! 5%G$,$7! I$G#A*! )$,SaB2! a+$,! G$,5,2! )#$6SY62#B$! A%G! G#SS$,$%8#$,2$! I#22$6&! *#2! e$#2!

A*8AB$4$%&!7#$!8A!*5%#XA6#$,$%!A%G!7#$!8A!24$*52#7#$,$%:!T57!*#2!;+725%G!J#942#B72$!G5)(%!#72!G#$!I(%25B$:!iW$,%&!-./-&!1:!--.j!!

e$#2,5SSA%B$%&!e$#2G$4%A%B$%&!\6$#948$#2#BU$#2&!e$#27X,a%B$!567![(,`!(G$,!>a9U+6$%G$!J$,G$%!GA,94!

G57! <#6G*#22$6! G$,! I(%25B$! B$7945SS$%:! T#$! '5,,52#(%! $%272$42! GA,94! G#$! 7X$8#S#794$!

;%$#%5%G$,,$#4A%B! G$,! <#6G$,! GA,94! 194%#22$:! eA7Y286#94! 8A! G#$7$,! $X#794$%!I(%25B$! B#+2! $7! 5A94!

I(%25B$5,2$%! iW(%2,572*(%25B$! A%G! ;GG#2#(%7*(%25B$j&! J$694$! G#$! e$#2! B6$#9475*! 5Af$,! W,5S2!

7$28$%:!@#%!+$,a4*2$7!<$#7X#$6!#72!G$,!96%45&V3%&!$#%!45,2$,!194%#22!8J#794$%!8J$#!@#%72$66A%B$%!*#2!

S(,*56$%! r4%6#94U$#2$%! iW65%2! O! 1X#$6*5%%&! -..P&! 1:! -LRj&! G$,! +$7#X#$67J$#7$! #*! M#6*! ]-../! `!

FGc77$$!#*!"$62,5A*_!)(%!125%6$c!WA+,#9U!X,(*#%$%2!$#%B$7$282!#72:!TA,94!G#$!I(%25B$!)$,J5%G$62!

7#94!$#%! #%!G#$!ZE4$!B$J(,S$%$,&!567!"5SS$!)$,J$%G$2$,&! 72$#%8$#26#94$,!W%(94$%! #%! $#%!>5A*794#SS:!

T#$7$! 8J$#! <#6G$,! J$,G$%! 5AS$#%5%G$,! B$794%#22$%:! [#7A$66$! I#22$6! a+$,+,a9U$%! 4#$,! GA,94!

;%$#%5%G$,,$#4A%B!Y4%6#94$,! <$J$BA%B!A%G!Y4%6#94$,!M(,*! H54,25A7$%G$:!eA7Y286#94!8A,! 8$#26#94$%!

T#*$%7#(%! #%2$,X,$2#$,$%!7#94!G#$!<#6G$,!B$B$%7$#2#B:!T#$!MA%U2#(%!G$,!I(%25B$!#*!M#6*! #72!567(!)#$6!

1$#2$!21!

J$#2,$#94$%G$,&! J$#6! G#$! <#6G$,! )#$6$! IEB6#94U$#2$%! G$,! T$U(G#$,A%B! +$,$#24562$%:! T#$! )#7A$66$!

"54,%$4*A%B!#72!*#2!G$,!T$A2A%B!)$,U%aXS2:!i[B6:!W$,%&!-..-&!1:!--/j!!

ZISIQIX #2;/>4B!"L8UB!W18@52A!52=!#2498/@41L2!

;*! <$#7X#$6! G$,! I(%25B$! 567! 7X$8#S#794! S#6*#794$*! ?(G$! J#,G! G$A26#94&! G577! M#6*! %#942! 5AS! 7$#%$!

3%4562$! ,$GA8#$,2! J$,G$%! U5%%:! T#$! M(,*! #72! B6$#94$,*5f$%! +$G$A275*:! @7! B$42! %#942! %A,! A*! G#$!

M,5B$&!J57!#*!M#6*!G5,B$72$662!#72&!7(%G$,%!#**$,!5A94!A*!G#$!M,5B$72$66A%B!#'"!$7!G5,B$72$662!#72:!@#%!

J#942#B$,! 194,#22! J5,! G#$! @,U$%%2%#7&! G577! 3%4562! A%G! M(,*! +$72#**$%G$! @6$*$%2$! +$#! G$,!

<$794,$#+A%B!)(%!M#6*!7#%G:!TA,94!G#$!I$4,G$A2#BU$#2!S#6*#794$,!<#6G$,!,$#942!G#$!<$794,Y%UA%B!5AS!

3%4562! A%G! M(,*! %#942! 5A7:! I#226$,J$#6$! +$794YS2#B2! 7#94! $#%$! [#$68546! 5%! T#78#X6#%$%! *#2!

A%2$,794#$G6#94$%&! 8A7Y286#94! 8A! 3%4562! A%G! M(,*! $,J$#2$,2$%&! S#6*24$(,$2#794$%! ;%7Y28$%:! @#%$!

\$*$#%75*U$#2! 6Y772!7#94! #%!G$%!B$B$%JY,2#B$%!M#6*24$(,#$%!S$7272$66$%:!1#$!B$4$%!a+$,!G#$! #%2$,%$!

i#%45626#94$! A%G! S(,*56$j! <$794,$#+A%B! 4#%5A7! A%G! J$,G$%! 5AS! $V2$,%$! h%2$,7A94A%B7S$6G$,!

5A7B$G$4%2:! T57! %$A$,$! [$,72Y%G%#7! #%U6AG#$,2! G57! B5%8$! 1c72$*! G$,! M#6*X,(GAU2#(%&! [$,+,$#2A%B!

A%G!"#,UA%B!+$#*!>$8#X#$%2$%:!!

]T#$! 8$#2B$%E77#794$! M#6*24$(,#$! )$,7A942! ]G57! ]"$7$%_! G$7! I$G#A*7! M#6*! 5A7! G$,! T#56$U2#U! )(%!3%4562bM(,*! A%G! "#,UA%Bb>$8$X2#(%! 8A! $,B,a%G$%:! @7! B$42! G5+$#! %#942! 566$#%! A*! G#$! 2,5G#2#(%$66$!

M,5B$&!J#$!M#6*!SA%U2#(%#$,2&!7(%G$,%!G5,a+$,!4#%5A7!A*!G#$!U(B%#2#)$%!A%G!$*(2#(%56$%!@SS$U2$&!G#$!

$,! #*! eA7945A$,! 5A78A6E7$%! )$,*5B:_! i;6+$,7*$#$,&! -..0&! 1:/Rj! eA7Y286#94! J#,G! G#$! 3%2$,5U2#(%!

8J#794$%! M#6*!A%G! eA7945A$,! +$2(%2:! T57![$,72$4$%! G$,! <#6G$,! +$#%4562$2! %(94! )(,! g$G$,!T$A2A%B!!

$#%$![#$68546!+$JA772$,!A%G!A%+$JA772$,!;U2#)#2Y2$%:! i[B6:!"#%2$,&!/RR-&!1:!Lj!194(%!h*+$,2(! @9(!

452! N$$,72$66$%! #%! =$V2$%! +$794,#$+$%&! G#$! 8A,! I#25,+$#2! 5ASS(,G$,%! A%G! G#$! )#$6$!

T$A2A%B7*EB6#94U$#2$%!g$!%594!G$%!7(8#56$%!A%G!UA62A,$66$%!T#7UA,7$%!G$,!\$7$667945S2!8A6577$%:!

ZISIQIZ &98!61>U13:;9!)9_4!

3*! eA75**$%45%B! *#2! G$%! (+$%! +$794,#$+$%$%! 7$*#(2#794$%! =4$(,#$%! 452! G$,! =$V2+$B,#SS! #%!

A%2$,794#$G6#94$%! "#77$%7945S27G#78#X6#%$%! $#%$! B,A%G6$B$%G$! ;A7J$#2A%B! $,S54,$%:! h%2$,! =$V2!

)$,72$4$%!J#,!4$A2$!G#$!\$75*24$#2!566$,!e$#94$%7c72$*$:!@#%!M#6*! #72! #%!G#$7$*!1#%%$! $#%!=$V2:!@,!

)$,+#%G$2!<#6G!A%G!=(%&!452!)#7A$66$!A%G!5AG#2#)$!@6$*$%2$:!T#$!W(*+#%52#(%!G#$7$,!@#%8$62$#6$!GA,94!

I(%25B$!$,B#+2!G57!5AG#()#7A$66$!I$G#A*!M#6*:!I#945$6!1X#$6*5%%!7X,#942!)(*!]*$4,S594!U(G#$,2$%!

]1AX$,8$#94$%_!M#6*_:!iW65%2!O!1X#$6*5%%&!-..P&!1:!--j!

I#226$,J$#6$! J#,G! 7(J(46! #%! G$,! 1X,594`! A%G! N#2$,52A,J#77$%7945S2! 567! 5A94! #%! G$,! T#G5U2#U! G$,!

$,J$#2$,2$! =$V2+$B,#SS! )$,J$%G$2:! '$+$%! 6#2$,5,#794$%! =$V2$%! J$,G$%! M#6*$&! <#6G$,&!

M$,%7$47$%GA%B$%&![#G$(7!A7J:!567!=$V2!)$,725%G$%:!;%56(B!8A,!1X,594$!*a77$%!567(!G#$!+#6G6#94$%&!S#6*#794$%!A%G!5UA72#794$%!A7J:!=$V2$!G$U(G#$,2!J$,G$%&!G5*#2!7#$!#*!;%7946A77!G5,5%!#%2$,X,$2#$,2&!

U(**$%2#$,2!A%G!G#7UA2#$,2!J$,G$%!UE%%$%:!i[B6:!125#B$,!-..L&!1:!/.0j!

ZIX %9=192?133923:;/64!

ZIXIQ &98!/5=1LE1359>>9!)9_4!

T#$!I$G#$%J#77$%7945S2! 452! G$%! M#6*! 7$#2! G$,! [$,+,$#2A%B! G$7!I577$%*$G#A*7! M$,%7$4$%! #%! G$%!

/RK.$,! H54,$%! 8A*! \$B$%725%G! #4,$,! M(,794A%B! B$*5942! `! ! %#942! 8A6$282&! J$#6! 7#94! G#$!

WA%72B$794#942$! %#942! Sa,! +$J$B2$! <#6G$,! 8A72Y%G#B! B$7$4$%! 452:! T$,! I$G#$%J#77$%7945S26$,!

?4,#72#5%!T($6U$,!7X,#942!)(*!5AG#()#7A$66$%!=$V2:!@,!B$42!)(*!M$,%7$4$%!5A7!A%G!+$8$#94%$2!$7!567!

WA62A,2$94%#U&! G#$! B$%5A7(! B$6$,%2! J$,G$%! *A77! J#$! G57! N$7$%! A%G! 194,$#+$%:! @,! +$8$#94%$2! G#$!

MY4#BU$#2!G$7!<#6G$,6$7$%7!567!1946a77$6U(*X$2$%8:! ! i[B6:!T($6U$,&!/RRLj!T($6U$,! 7c72$*52#7#$,2!G$%!

S#6*#794$%! =$V2&! #%G$*! $,! #4%! #%! G#$! e$#94$%7c72$*$! <#6G&! =(%! A%G! "(,2! A%2$,B6#$G$,2:! 3*! M#6*!

+$72$4$%! G#$7$! e$#94$%7c72$*$! %$+$%$#%5%G$,&! G#$! ?(G$7! a+$,65B$,%! $#%5%G$,:! T57! =cX#794$! G$7!

M#6*7!#72!B$,5G$!G#$!\6$#948$#2#BU$#2!*$4,$,$,!?(G$7&!G#$!8A75**$%!J#,U$%:!

1$#2$!22!

ZIXIS &19!`LUD>9_14F4!=98!G1>=98!

T57! <#6G! 8$#B2! [#$6$7! A%G! 8$#B2! G(94! "$7$%26#94$7! %#942:! "$%%! J#,! M#6*$! 7$4$%&! 45+$%! J#,! G$%!

@#%G,A9U! "#,U6#94U$#2! 8A! 7$4$%:! T$,! I$G#$%J#77$%7945S26$,! W%A2! Z#9U$24#$,! %$%%2! G57! G#$!

]1ABB$72#(%! G$,! >$562Y275++#6GA%B_:! iZ#9U$24#$,&! -./-&! 1:! QQj! @,! 7X,#942! G5*#2! $#%$%! J$7$%26#94$%!;7X$U2! G$7! S#6*#794$%! <#6G$7! 5%:! "$G$,! G#$! W5*$,5! %(94! G#$! <$5,+$#2A%B7X457$%&! G#$! 8J#794$%!

;AS%54*$!A%G!D,(g$U2#(%!6#$B$%&!7#%G!#*!M#6*!7#942+5,:!TA,94!G$%!>54*$%!G$7!M#6*+#6G$7!45+$%!J#,!

G$%! @#%G,A9U! 5AS! "#,U6#94U$#2! 8A! 7945A$%&! J$#6! G#$! G58J#794$%! B$794562$2$! 2$94%#794$! ;XX5,52A,!

%#942!7#942+5,! #72:!h%7$,$!"54,%$4*A%B!J#,G!B$2YA7942:!1$6+72!$#%$!5ASB$%(**$%$!W5*$,5!Ja,G$!

5%!G#$7$*!=YA794A%B7X,#%8#X!%#9427!Y%G$,%&!J$#6!G#$!5ASB$%(**$%$!W5*$,5!%#$!G#$!7$#%!U5%%&!*#2!

G$,!5ASB$%(**$%!JA,G$:!T$,!W5*$,5+6#9U!(,B5%#7#$,2!G57!<#6G:!T#$!=YA794A%B!#72!G$*!M#6*!#%4Y,$%2:!!

'(94! G58A! 7#%G! G#$! S#6*#794$%! <#6G$,! )(%! G$,! WA62A,&! #%! G$,! J#,! 5ASJ5947$%&! 5+4Y%B#B:! <#6G$,! A%G!

S#6*#794$!<#6G$,!7#%G!UA62A,$66!U(G#$,2:![(%!\$+A,2!5%!%$4*$%!J#,!)#7A$66$!?(G$7!5AS:!T57!1$4$%!J#,G!

UA62#)#$,2:! 194(%! G#$! 1$*#(2#U$,! ?4,#72#5%! I$28! A%G! h*+$,2(! @9(! 45+$%! G#$7$! ]5%24,(X(6(B#794`

UA62A,$66$%! ?(G$7_! i@9(&! /RKP&! 1:! 0.Lj! 5A7Sa4,6#94! G#7UA2#$,2:! @#%$! J#942#B$! @,U$%%2%#7! J5,&! G577!

S#6*#794$!<#6G$,! 7$4,!U(*X6$V!7#%G:!1#$! 7#%G!B$,5G$8A!5ASB$65G$%!*#2! <$G$A2A%B$%:!"$#6! <#6G$,!5AS!

G$%! $,72$%! <6#9U! 7(! ,$56#2Y27%54$! 7#%G&! 4$,,7942! G#$! 566B$*$#%$! ;ASS577A%B&! G577! *5%! a+$,! <#6G$,!

%#9427!6$,%$%!*a77$:!]@#%!<#6G!75B2!*$4,!567!25A7$%G!"(,2$_&!#72!$#%!BY%B#B$,!;A7G,A9U&!G$,!%A,!$#%$!

7$4,! $#%B$794,Y%U2$!<$,$942#BA%B!452:! <#6G$,!*EB$%! 794%$66$,!A%G!G#,$U2$,!5AS!A%G!J#,U$%&!G5!A%7!

#4,$! S(2(,$56#72#794$! T5,+#$2A%B! )$,2,5A2! #72&! G(94! 4$#f2! G57! %#942&! G577! J#,! #4,$! <$G$A2A%B! %#942!

6$,%$%!*a772$%:!"#,!a+$,7$4$%!G#$!)#$6$%!<$G$A2A%B7$+$%$%&!G#$!g$%7$#27!G$,!1X,594$!6#$B$%:!!

T#$! @,U$%%2%#7&! G577! J#,! G57! 1$4$%! )(%! <#6G$,%! 6$,%$%! *a77$%&! 8#$42! 7#94! B$B$%JY,2#B! GA,94!

)$,794#$G$%72$! "#77$%7945S27G#78#X6#%$%:! @#%! <$#7X#$6&! G57! G#$! W(*X6$V#2Y2! G$7! <#6G$,)$,72$4$%7!

)$,5%7945A6#942&! #72!G57!194#942$%*(G$66! )(%!?4,#72#5%!T($6U$,! i7#$4$!;++:! Rj:! 3%! #4*!7#%G!*$4,$,$!

<$G$A2A%B7$+$%$%! #%! $#%5%G$,! a+$,65B$,%G$%! 194#942$%! 5+B$+#6G$2:! i[B6:! T($6U$,&! -./-&! 1:! 0Kj!T($6U$,! +$8#$42! 7#94! 4#$,! 8J5,! 5AS! A%+$J$B2$! <#6G$,&! G(94! J#,G! G$A26#94&! G577! <#6G$,! 5%! 7#94! 7$4,!

G#942$!\$+#6G$!7#%G:!T#$!MY4#BU$#2!<#6G$,!8A!$%27946a77$6%&! #72!$#%!U(*X6$V$7!h%2$,S5%B$%&!G57!A%2$,!

5%G$,$*!4#72(,#794$%!A%G!UA62A,$66$%!<$G#%BA%B$%!A%G!W(%)$%2#(%$%!A%2$,6#$B2:!!!

!

;++:!Rd!<#6G7$*5%2#794$!194#942$%*(G$66!iqA$66$d!T($6U$,&!-./-&!1:!0Kj!

ZIXIX %9=192@L2Y9D49!

h*B5%B77X,5946#94!J#,G!G$,! <$B,#SS! ]I$G#A*_!7$4,!)#$6SY62#B!)$,J$%G$2:! <A94&!e$#2A%B&!M#6*&!>5G#(!

A%G! 3%2$,%$2! +$8$#94%$%! #*! ;6625B77X,594B$+,5A94! I$G#$%:! ;A94! I577$%*$G#$%&!

W(**A%#U52#(%7*$G#$%! A%G! %$A$! I$G#$%! 7#%G! 15**$6+$B,#SS$&! G#$! J#,! B5%8! 7$6+72)$,72Y%G6#94!

)$,J$%G$%&!(+J(46!G57!"(,2!)$,794#$G$%72$!W52$B(,#$%!`!$#%*56!G#$![$,+,$#2A%B&!$#%!5%G$,$7!I56!

[$,72Y%G#BA%B757X$U2$!A%G!G5%%!J#$G$,!2$94%#794$!\$,Y2$!`!*$#%2:!!

;A94! #%! G$,! I$G#$%J#77$%7945S2! B#+2! $7! 7$4,! A%2$,794#$G6#94$! I$G#$%+$B,#SS$:! eA%Y9472! 452! G$,!I524$*52#U$,! ?65AG$! @:! 145%%(%! G$%! <$B,#SS! I$G#A*! 567! 6#%$5,$%&! A%7#942+5,$%! A%G! %$A2,56$%!

1$#2$!23!

[$,*#226A%B7U5%56!8J#794$%!W(**A%#U52#(%7X5,2%$,%!G$S#%#$,2:!I9NA45%!452!#%!G$,!M(6B$!B$%5A!5AS!

G#$!h%7#942+5,U$#2!G$7!I$G#A*7! S(UA77#$,2!A%G!B$*$#%2&! G577!]G$,!M(,*!G$7!I$G#A*7!*#%G$72$%7!

B$%5A7(! )#$6! ;AS*$,U75*U$#2! B$+a4,2&!J#$! G$*! 3%4562:_! iM,$G$U#%B&! O!W,(**$,!O!I5#J56G&! -./-&!

1:/Kj:! 1$#2! I9NA45%7! @,U$%%2%#7&! G577! 7#94! G$,! 3%4562! GA,94! $#%! I$G#A*! %#942! A%)$,*#22$62!

X,Y7$%2#$,2&! 7(%G$,%! $#%! +$,$#27! B$*5942! #72&! B#+2! $7! )#$6$! I$G#$%U(%8$X2$&! G#$! J$7$%26#94$!

@#%8$657X$U2$!)$,G$A26#94$%:!1#$BS,#$G!H:!194*#G2!+,#%B2!G#$!)#$6$%!)$,794#$G$%$%!D$,7X$U2#)$%!#%!$#%!

*$4,G#*$%7#(%56$7! I$G#$%U(%8$X2:! @,! )$,7A942! G5+$#! %#942&! $#%$%! *EB6#9472! 566B$*$#%$%!

\$75*2*$G#$%+$B,#SS! 8A! S#%G$%&! 7(%G$,%! 2,YB2! G$,! W(*X6$V#2Y2! G$7! M$6G$7! >$94%A%B&! #%G$*! $,!

I$G#$%+$B,#SS$!B$2,$%%2!6Y772&!A*!G$,$%![#$6794#942#BU$#2!5+8A+#6G$%!A%G!7#$!G$%%(94!#%!$#%!$#%8#B$7!

I(G$66! #%2$B,#$,2:! 194*#G27! I(G$66! +$72$42! 5A7! )#$,! T#*$%7#(%$%&! G#$! )$,7A94$%&! G#$! B5%8$!

<5%G+,$#2$!5%!D,(GAU2#(%&!T#72,#+A2#(%&!>$8$X2#(%!A%G![$,J$%GA%B!)(%!I$G#$%!5+8A+#6G$%:!T#$!)#$,!

T#*$%7#(%$%!$#%$7!G#SS$,$%8#$,2$%!I$G#$%+$B,#SS7!7#%Gd!!

/:! *9U1L413:;9!`LUU521@/41L233^349U9!!

T57!7#%G!]566$!*52$,#$66$%!\$B$+$%4$#2$%&!G#$!8$#94$%SY4#B!7#%G_!i194*#G2&!-..0&!1:!0QCj!A%G!

GA,94! #4,$%! \$+,5A94! B$7$667945S26#94! B$,$B$62! 7#%G:! \$*$#%2! 7#%G! 4#$,! 566$!

W(**A%#U52#(%77c72$*$&!G#$!1#%%!$,8$AB$%!J#$!G#$!B$7X,(94$%$!1X,594$&!194,#S2&!<#6G$,!A%G!

=E%$:!

-:! )9:;213:;9!%9=19249:;2L>LA192!i8:!<:!T,A9U&!M#6*`!A%G!M$,%7$4$%j!

0:! T8A/213/41L292!i8:<:![$,65B$&!M$,%7$45%72562$%j!

C:! %9=192/2A90L49!i8:!<:!<a94$,&!M#6*$&!D(G95727&!3%2$,%$27$#2$%j!

I$G#$%!7#%G!+$#!194*#G2!G57!7c72$*#794$!eA75**$%J#,U$%!G#$7$,!)#$,!T#*$%7#(%$%&!G57!7#94!7$6+72!

(,B5%#7#$,2:! i[B6:! M,$G$U#%B! O! W,(**$,! O! I5#J56G&! -./-&! 1:! -.j! T#$! 12Y,U$! G#$7$7!

*$G#$%J#77$%7945S26#94$%! I(G$667! 6#$B2! G5,#%&! G577! $7! e$#94$%7c72$*$! 566$,! ;,2! B6$#94J$,2#B!

+$#%4562$2:! T57! e$#94$%7c72$*! G$,! 194,#S2!*#2! G$*! 194,#S2*$G#A*! <A94! $V#72#$,2! 8:! <:! B6$#94,5%B#B!

%$+$%! <#6G$,%! A%G! =E%$%:! T#$! I$G#$%J#77$%7945S2! 6#$S$,2! 567(! $#%! +,5A94+5,$7! I(G$66&! G57!

T$A2794G#G5U2#U$,! J#$! 8:! <:! I#945$6! 125#B$,! 567! X,5V#725AB6#94! Sa,! G$%! T$A2794A%2$,,#942! 5%7$4$%:!

i[B6:!125#B$,!-..L&!1:!-/-!SS:j!!

T#$!*$G#$%XYG5B(B#794$!h*7$28A%B!J#,G!g$G(94!U,#2#7#$,2:!>5X45$6!1X#$6*5%%!72$662!S$72&!G577!$7!G$,!

I$G#$%XYG5B(B#U! %(94! %#942! B$6A%B$%! #72&! ]G$%! <$,$#94! M#6*! 5%B$*$77$%! #*! h%2$,,#942! 8A!

)$,5%U$,%_:! i1X#$6*5%%&!-.//&!1:!C-j!TA,94!G#$!5U2A$66$! W(%8$%2,52#(%!G$,!I$G#$%J#77$%7945S2!5AS!

G#$!$6$U2,(%#794$%!I$G#$%!J#,G!5AS!G57!)$,B6$#947J$#7$!562$!I$G#A*!M#6*!)$,B$77$%:!;%G,$57!DS#72$,!

+$(+5942$2!G#$7$6+$%!T$S#8#2$!#%!G$,!194A6X,5V#7d!

=527Y946#94!J5,!*5%!G$,!M#6*+#6GA%B!#%!G$%!7#$+8#B$,!H54,$%!%Y4$,!567!4$A2$:!T5*567!+#6G$2$!

G$,! M#6*! G$%! W$,%! G$,! 5ASU(**$%G$%! I$G#$%+#6GA%B:! Z$A2$! )$,72$42! *5%! A%2$,!

I$G#$%+#6GA%B! )(,! 566$*! ?(*XA2$,&! 3%2$,%$2&! D?`1X#$6$&! 566$%S5667! M$,%7$4$%:! '$+$%! G$*!

+$#7X#$66(7$%! 194A+! Sa,! G#$! %$A$%! I$G#$%! S#$6! G57! X6E286#94! 562! B$J(,G$%$! I$G#A*! M#6*!

8J#794$%!12A46!A%G!<5%U:!iDS#72$,&!-..Kj!

ZIXIZ %9=1/>9!K/8/=1AU92!

"5,A*!$7!7(!794J$,!SY662&!G57!5AG#()#7A$66$!I$G#A*!#%!G$,!D,5V#7!8A!)$,5%U$,%&!6Y772!7#94!5A94!GA,94!

G#$!@%2J#9U6A%B!G$,!*$G#56$%!D5,5G#B*$%!)$,5%7945A6#94$%:!h%2$,!$#%$*!*$G#56$%!D5,5G#B*5!J#,G!

$#%! I$G#A*! )$,725%G$%&! G57! $#%$! \$7$667945S2! *#275*2! #4,$,! WA62A,&! =$94%#U! A%G! "#77$%7945S2!

45AX27Y946#94!X,YB2:![#$,!D5,5G#B*$%!6577$%!7#94!A%2$,794$#G$%d!

/:! G57!(,56$!D5,5G#B*5!

-:! G57!6#2$,56$!D5,5G#B*5!

0:! G57!5AG#()#7A$66$!D5,5G#B*5!

1$#2$!24!

C:! G57!*A62#*$G#56$!D5,5G#B*5!i[B6:!M,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!1:!-K!SS:j!

"$%%!$#%!D5,5G#B*5!$#%!)(,4$,B$4$%G$7!5+6E72&!#%G$*!7#94!G57!45AX27Y946#94!)$,J$%G$2$!I$G#A*!

Y%G$,2&!U(**2!$7!8A!2#$SB,$#S$%G$%!h*+,a94$%:!r%G$,A%B!*$#%2!%#942&!G577!$#%!I$G#A*!G57!5%G$,$!

$,7$282&!7(%G$,%!G577!$#%!%$A$7!I$G#A*!#%!G$,!\$7$667945S2!G(*#%#$,2:!HAB$%G6#94$!567!'A28$,3%%$%!

+#6G$%!7#94!B$B$%JY,2#B!8:!<:!X,#*Y,!GA,94!G57!N$#2*$G#A*!M#6*:!!

T$,!$,72$!*$G#56$!D5,5G#B*$%J$947$6!$,S(6B2$!*#2!G$,!@,S#%GA%B!G$,!194,#S2:!@#%$!*$G#56$!>$)(6A2#(%!

J5,! G#$! @,S#%GA%B! G$7! <A94G,A9U7! GA,94! \A2$%+$,B:! T57! (,56$! D5,5G#B*5! JA,G$! )(*! 6#2$,56$%!

D5,5G#B*5! 5+B$6E72:! T$,! =$94%#U+((*! G$,! #%GA72,#$66$%! >$)(6A2#(%! S(,9#$,2$! G#$! ;+6E7A%B! G$7!

6#2$,56$%! D5,5G#B*57!GA,94!G57! 5AG#()#7A$66$! D5,5G#B*5:! 3*! <$,$#94!G$,! 5AG#2#)$%!I$G#$%!JA,G$%!

=$6$S(%!A%G!>5G#(!$,SA%G$%&! #*!<$,$#94!G$,! )#7A$66$%!I$G#$%!M(2(B,5S#$!A%G!M#6*:!I5%!7X,#942!+$#!

G#$7$,! "$%G$! )(%! G$,! 194,#S2UA62A,! 8A,! <#6GUA62A,&! G#$! GA,94! G#$! I577$%*$G#$%! 5A7B$6E72! JA,G$&!!

5A94! )(*! D41-'4& W3*-:! T#$! @,S#%GA%B!G$,! 5AG#()#7A$66$%!I$G#$%! =(%S#6*!A%G! M$,%7$4$%! Sa4,2$! 8A,!

[$,+,$#2A%B! %$A$,! I577$%*$G#$%:!"$#6! <#6G! A%G! =(%! 8A! $#%$,! @#%4$#2! )$,794*$68$%&! 7X,#942! *5%!

5A94! )(%! HX==")'6('%O%:! T57! *A62#*$G#56$! D5,5G#B*5! *#2! G$*! ?(*XA2$,! 567! 1c**$G#A*! +,#%B2!

)#$6$!I$G#$%! 5AS! $#%$,! @+$%$! 8A75**$%:!;AS! $#%$,! Z(*$X5B$! UE%%$%! <#6G&! =(%&! 794,#S26#94$,! =$V2!

A%G!M#6*! B6$#948$#2#B! )(,45%G$%!7$#%&!J(+$#! $7!GA,94!G#$!;+6E7A%B!G$,!5%56(B$%!GA,94!G#$!G#B#256$!

=$94%#U!$#%$!],575%2$![$,65B$,A%B!)(%!G$,!7X,5946#94$%!5AS!G#$!)#7A$66$! 3%S(,*52#(%_:!i15A$,6Y%G$,&!

-..C&!1:!C.Pj!B#+2:!!

T#$!T#B#256#7#$,A%B!452!J$#2,$#94$%G$! M(6B$%! Sa,! G$%! M#6*:! M,a4$,!J5,! 8:! <:! G#$! M#6*4$,72$66A%B!G#$!

566$#%#B$! ;%B$6$B$%4$#2! )(%! D,(S#7:! I#226$,J$#6$! U5%%! g$G$b,! M#6*$!*594$%&! 7#$! +$5,+$#2$%! A%G! #*!

3%2$,%$2!)$,ESS$%26#94$%:!T#$!D6522S(,*!m(A=A+$&!G#$!$,72!-..Q!B$B,a%G$2!JA,G$&!J#,G!#%2$%7#)!i5A94!

)(%! HAB$%G6#94$%j! B$%A282:! I#945$6! W65%2! A%G! >5X45$6! 1X#$6*5%%! 7X,$94$%! G5)(%&! G577! J#,!

*#226$,J$#6$!!7(B5,!$#%$%!?'-"%'4&W3*-&!]G#$!Z#%J$%GA%B!8A*!<$J$B2+#6G!#%!566$%!<$,$#94$%_&!$,6$+$%:!

iW65%2!O!1X#$6*5%%&!-..P&!1:!-Kj!1$#2!Z5%Gc7!*$4,$,$!MA%U2#(%$%!#%!$#%$*!\$,Y2!)$,$#%$%&!452!7#94!

G#$!;66B$B$%JY,2#BU$#2!G$,!+$J$B2$%!<#6G$,!8A7Y286#94!+$7946$A%#B2:!!

Z$A28A25B$! #72! %#942!*$4,! G57!<A94! N$#2*$G#A*! A%7$,$,! \$7$667945S2:! ;AG#()#7A$66$!;%B$+(2$!J#$!

1X#$6S#6*$&! M$,%7$47$%GA%B$%&! ?(*XA2$,7X#$6$! 7#%G! G#$! %$A$%! N$#2*$G#$%:! T#$! HAB$%G6#94$%!

+$794YS2#B$%! 7#94! #%! G$,! 194A6$! A%G! #*!T$A2794A%2$,,#942! 566$,G#%B7! 45AX27Y946#94!*#2! 794,#S26#94$%!

6#2$,5,#794$%! I$G#$%2$V2$%:! T$,! D5,5G#B*$%J$947$6! 7X#$B$62! 7#94! #%! G$,! 194A6$! %#942! J#G$,! `!

194a6$,3%%$%!+6$#+$%!]%5#)$!I$G#$%$VX$,2$%_:!i1A,U5*X&!-./.&!1:!PRj!

J9812A3:;F4Y52A!=98!G1>=U9=192!

"$%%! 7#94! %$A$! =$94%(6(B#$%! $%2J#9U$6%&! U(**2! $7! 8A! $#%$,! ]X,#%8#X#$66$%! 3%S,5B$72$66A%B! G$7!

g$J$#67!%$A$%!I$G#A*7:_! i>E66&! -..K&!1:!//j!T#$!@25+6#$,A%B!G$,! <A94UA62A,!J5,!8A*!<$#7X#$6!%#942!

A%A*72,#22$%:!N$7$JA2!A%G!N$7$7A942!!+$8$#94%$2$%!G#$!$,6$+2$!<$G,(4A%B!GA,94!<a94$,:![(,!566$*!

G#$!J$#+6#94$![(,6#$+$!Sa,!+$66$2,#72#794$!N#2$,52A,!)$,A,75942$!#%!G$,!+a,B$,6#94$%!WA62A,!G$7!/P:!A%G!

/R:! H54,4A%G$,27! "#G$,725%G! 7$#2$%7! G$,! IY%%$,:! T57! N$7$%! 7(662$! %#942! 8A! 6A72+$2(%2! A%G!

B$%A77(,#$%2#$,2! 7$#%:! M,5A$%! 7(662$%! %#942! )(%! #4,$,! >(66$! 567! @4$S,5A&! Z5A7S,5A! A%G! IA22$,!

5+B$6$%U2!J$,G$%:!i[B6:!M,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!1:!0Pj!

;A94! G$,! D5,5G#B*$%J$947$6! 8A*! 5AG#()#7A$66$%!I$G#A*! 452! )#$6$! <$Sa,942A%B$%! 5A7B$6E72:! T57!

<$J54,$%!)(,!G$%!567!794YG6#94$%!5%B$7$4$%$%!@#%S6a77$%!J5,!$#%!Z5AX28#$6!G$,!<$J54,XYG5B(B#U&!

G#$!)(,!G$*!%$B52#)$%!@#%S6A77!)(%!194A%GS#6*$%!5AS!G#$!U#%G6#94$!D7c94$!J5,%2$:!@#%!J54,$,!M$6G8AB!

B$B$%!G57! W#%(!JA,G$! B$725,2$2:! W,#2#7#$,2!JA,G$! )#$6$,6$#d! G#$! >$#8a+$,S6A2A%B!GA,94!G57! M6#**$,%!

G$,! <#6G$,&!*(,56#794! +$G$%U6#94$! M#6*#%4562$&! G#$! >YA*6#94U$#2$%! G$,! M#6*)(,Sa4,A%B$%&! #%! G$%$%!

G57! B6$#948$#2#B$! >5A94$%! A%G! G$,! ;6U(4(6B$%A77! $,65A+2! J5,! A%G! G#$! \$S54,$%! G$,!

*$G#$%)$,*#22$62$%! 194$#%J$62:! Z(,72! T#945%8! (,2$2! 5A94! 4$A2$! %(94! $#%$! "$#2$,Sa4,A%B! G#$7$,!

+$J54,XYG5B(B#794$%!D(7#2#(%$%!#%!G$%!B$B$%JY,2#B$%!h%2$,,#9427U(%8$X2$%:!@,!794,$#+2d!

T#$! M(,*$6! )(*! ]U,#2#794$%! A%G! 7$6+72)$,5%2J(,26#94$%! h*B5%B_! U6#%B2! XYG5B(B#794!

J(46*$#%$%G! 5+$,! 5A94!a+$,,5794$%G! )$,2,5A2:! 1#$! $,#%%$,2! 5%!G#$! e$#2! G$,! M#6*XYG5B(B#U!

1$#2$!25!

A*! /R-.&! 567! +$7(,B2$! DYG5B(B$%! )(,! G$*! ]=$AS$678$AB_! G$,! +$J$B2$%&!

U#%$*52(B,5X4#794$%!<#6G$,!J5,%2$%:!iT#945%8&!-..-&!1:!Cj!

D5,566$6! 8A,! *$G#56$%! @%2J#9U6A%B! A%G! G$,! G5*#2! $#%4$,B$4$%G$%! ;+J$,2A%B! G$7! g$J$#67! %$A$%!

I$G#A*7!B#+2! $7! $#%$! 2#$S! )$,5%U$,2$&!4#72(,#794! B$J5947$%$!\$,#%B794Y28A%B!G$,! <#6G*$G#$%:!1$#2!

<$B#%%!A%7$,$,!5+$%G6Y%G#794$%!WA62A,!J#,G!194,#S26#94U$#2!!4E4$,!B$794Y282!567!<#6G6#94U$#2:!@#%$,7$#27!

#72! #%! G$%! <A94,$6#B#(%$%! HAG$%2A*&! ?4,#72$%2A*! A%G! 3765*! G#$! 194,#S26#94U$#2! *#2! Z$#6#BU$#2!

B6$#94B$7$282!J(,G$%:!T#$!Z$#6#B$!194,#S2!#72!$#%!1c%(%c*!Sa,!G#$!<#+$6:!;%G$,$,7$#27!45+$%!794(%!G#$!

5%2#U$%! T$%U794A6$%! G57! >52#(%56`N(B#794$! #%! M(,*! )(%! 794,#S26#94$%! =$V2$%! S#V#$,2:! 1$#24$,! 7#%G!

5++#6G$%G$!e$#94$%!G$*!194,#S26#94$%!%594B$(,G%$2:!1#$! #66A72,#$,$%!+6(f!U(B%#2#)$!N$#72A%B$%:!i[B6:!

W$,%&!/RRK&!1:!/..j!T#$7$!J#,U*Y942#B$!=,5G#2#(%!J#,G!+#7!4$A2$!S(,2B$Sa4,2:!

ZIZ G1>=?133923:;/64!!

3%!G$%!6$282$%!H54,$%!452!$#%$!#%2$,G#78#X6#%Y,$&!J#77$%7945S26#94$!<$794YS2#BA%B!*#2!G$*!=4$*5!<#6G!

$#%B$7$282:! 3*! <$*a4$%&! $#%$! <#6GJ#77$%7945S2! 8A! B,a%G$%&! G#7UA2#$,$%! "#77$%7945S26$,! 5A7!

A%2$,794#$G6#9472$%!T#78#X6#%$%!a+$,!G#$!12$66A%B!G$7!<#6G$7!#%!#4,$%!"#77$%7945S2$%:! 3*!h%2$,794#$G!

8A,!7X,5946#94$%!T5,72$66A%B!B$42!$7!4#$,!,$#%!A*!G#$![#7A56#2Y2:!'#942!G#$!"#77$%7945S2$%&!G#$!<#6G$,!

567!*$24(G#794$!"$,U8$AB$!$#%7$28$%&!7(%G$,%!G#$!T#78#X6#%$%&!G#$!]8A*!24$(,$2#794$%![$,72Y%G%#7!

G$,! <#6G24$*52#U! +$#2,5B$%_! i15947`Z(*+594&! -..Q&! 1:! /0j! J$,G$%! 567! \,A%G65B$%J#77$%7945S2$%!

5ASB$S5772:! T#$! W(**A%#U52#(%7J#77$%7945S2! #72! 8$%2,56&! G5! +#6G6#94$! e$#94$%! #%! U(**A%#U52#)$%!

eA75**$%4Y%B$%! 5AS2,$2$%:! T#$! WA%72B$794#942$! 452! 8A*! <$#7X#$6! $#%! A*S5%B,$#94$7!

I$24(G$%,$X$,2(#,$!$%2J#9U$62&!*#2!G$*!Ua%726$,#794$!<#6G$,!+$794,#$+$%!J$,G$%&!G57!)(%!#%2$,%$%!

@6$*$%2$%! G$7! <#6G5AS+5A7! $29:! +#7! 8A,! h%2$,7A94A%B! )(%! <#6GSA%U2#(%$%&! <#6G)$,J$%GA%B! A%G!

3%2$,X,$252#(%!#*!B$7$667945S27X(6#2#794$%!W(%2$V2!,$#942:!

3%!G$%!<#6GJ#77$%7945S2$%!B$42!$7!%#942!X,#*Y,!A*!G#$![$,7X,5946#94A%B!)(%!<#6G$,%&!7(%G$,%!A*!G#$!

B,A%G6$B$%G$!@,U$%%2%#7&!G577!<#6G$,!5A94!#%!G$%!"#77$%7945S2$%!#%!#4,$,![#7A56#2Y2!$,%72!B$%(**$%!

J$,G$%!*a77$%:!T577! 8:! <:!J#77$%7945S26#94$!T#7UA,7$!%594!J#$! )(,!%A,! 794,#S26#94! B$Sa4,2!J$,G$%&!

72Ef2! 5AS! W,#2#U:! TA,94! G#$! <#6GJ#77$%7945S2$%! $,B$+$%! 7#94! 5A94! G#$7+$8aB6#94! %$A$&! ,$6$)5%2$!

;7X$U2$:!T$,!I$G#$%J#77$%7945S26$,!T#$2$,!"#$G$*5%%!24$*52#7#$,2!G57!J$#2B$4$%G$!M$46$%!$#%$7!%(%)$,+56$%! T#7UA,7$7! 8A*! =4$*5! <$J$B2+#6G*$G#$%:! @,! +$2(%2&! G577! $7! 8AUa%S2#B! 5A94! $#%$!

[$,+#6G6#94A%B!)(%!T#7UA,7$%!B$+$%!*a77$&!G#$!$#%$!G#SS$,$%8#$,2$!=4$(,#$+#6GA%B!#*!<$,$#94!G$,!;[`

I$G#$%! )(,5A77$282:! i[B6:! "#$G$*5%%&! -..Q&! 1:! 0LRj! ;66$,G#%B7! B$4$! $7! %#942! G5,A*! 1X,594$! 567!

;A7G,A9U!J#77$%7945S26#94$%!T$%U$%7!A%G!;,+$#2$%7!8A!$,7$28$%&!7(%G$,%!G5,A*&!J#77$%7945S26#94$!

T#7UA,7$!5A94!)#7A$66!8A!Sa4,$%:!!

T577! G57! <#6G! `! A%G! )(,! 566$*! G57! S#6*#794$! <#6G! GA,94! 7$#%$! 4(4$! 1ABB$72#(%7U,5S2! `! $#%$! $#B$%$!

1$*#(2#U! +$%E2#B2&! #72! +$,$#27! #%! G$%! /RK.$,! H54,$%! )(%! ?4,#72#5%! I$28! S$72B$72$662! J(,G$%:! T$,!

1$*#(2#U$,! ?45,6$7! 1:! D$#,9$! 452! 794(%! @%G$! G$7! /R:! H54,4A%G$,27! 8$#2B6$#94! *#2! T$! 15A77A,$! $#%!

+#6G7$*#(2#794$7!I(G$66!$%2J#9U$62&!G57!7$#2!G$%!K.$,!H54,$%!,$8#X#$,2!J#,G!A%G!G57!B$B$%JY,2#B!5%!

<$G$A2A%B! B$J#%%2:! M#6*`! A%G! <#6GJ#77$%7945S26$,! B,$#S$%! G5,5AS! 8A,a9U:! T#$! 'Y4$! G$,! <#6G$,! 8A,!

"#,U6#94U$#2! J#,G! +$#! D$#,9$! 24$*52#7#$,2:! >5X45$6! 1X#$6*5%%&! G$,! G#$! @#%S6a77$! D$#,9$7! 5AS!

8$#2B$%E77#794$!S#6*#794$!\,A%G65B$%J$,U$!J#$!8:!<:!H5*$7!I(%59(7!]M#6*!)$,72$4$%_!5AS8$#B2&!Sa4,2!

$#%!<$#7X#$6!5%d!]T#$!;++#6GA%B!$#%$7!Z5A7$7!i#72j!)#$6!%Y4$,!5*!Z5A7!567!G57!"(,2!Z5A7&!G57!U$#%$,6$#!

;%56(B#$! 5ASJ$#72:_! i1X#$6*5%%&! -.//&! 1:! KCj! I(%59(! 7X,#942! G$7456+! )(%! $#%$*! ]WA,87946A77`

e$#94$%_!iI(%59(&!-./-&!1:!/L/j&!J$#6!$7!U$#%$%!B,(f$%!h%2$,794#$G!8J#794$%!G$*!<$8$#94%$2$%!A%G!

G$*!<$8$#94%$%G$*!B#+2:! 3*!h%2$,794#$G!8A,!1X,594$!6#$B2!G#$!;++#6GA%B!G$,!"#,U6#94U$#2!%Y4$,!5%!

G$,!>$56#2Y2:!

T#$!B$B$%JY,2#B$!#%2$%7#)$!T#7UA77#(%!A*!G#$!<$G$A2A%B!G$7!1$4$%7!566B$*$#%!A%G!Sa,!G57!S#6*#794$!

"54,%$4*$%! #*!<$7(%G$,$%! #72!4#$,!%A,!5%B$G$A2$2!J(,G$%:![#$6$%!J#77$%7945S26#94$%!T#78#X6#%$%!J#,G!+$JA772&!G577!G57!5AG#()#7A$66$!<#6G&!G57!#*!?(*XA2$,8$#2562$,!(*%#X,Y7$%2!B$J(,G$%!#72&!$#%$!

SA%G#$,2$! 24$(,$2#794$! <$794YS2#BA%B! 7$#2$%7! G$,! "#77$%7945S2$%! )$,65%B2:! "$#6! 7#94! M#6*! 5*!

1$#2$!26!

194%#22XA%U2!562$,!A%G!%$A$,!I$G#$%!i;6+$,7*$#$,&!-..0&!1:!-Qj!+$S#%G$2&!#72!$#%![$,72$4$%!S#6*#794$,!

<#6G$,! B,A%G6$B$%G:! T$,! M#6*J#77$%7945S26$,! "#$G$*5%%! 8#$42! G5,5A7! G#$! W(%7$kA$%8&! G577! .'(=&

0"*+%"5"-& $#%$! WA62A,2$94%#U! #72! `! $+$%7(! J#$! G#$! WA62A,2$94%#U! F"+"-! `! ! A%G! 567! $#%$! ;,2!

]1946a77$6U(*X$2$%8! G$,! I$G#$%`! +8J:! "#77$%7B$7$667945S2$%! #*! -/:! H54,4A%G$,2_! i"#$G$*5%%&!

-..Q&!1:!0LLj!5%8A7$4$%!#72:!

ZI\ `LUD9492Y92!

T#$7$,! ;+794%#22! +$45%G$62! G$%! W(*X$2$%8+$B,#SS&! G$,! G#$! '54272$66$! 8J#794$%! G$%!J#77$%7945S26#94$%! T#7UA,7$%! 8A*! M#6*! A%G! G$,! h*7$28A%B! #%! G$,! 194A6$! #72:! "57! M#6*U(*X$2$%8!

+$G$A2$2&!J$694$!MY4#BU$#2$%!g$*5%G!$,65%B$%!7(66&!G$,!S#6*U(*X$2$%2! #72&!J$694$!=$#6U(*X$2$%8$%!

$,J(,+$%! J$,G$%!*a77$%! `! 566! G#$7$! M,5B$%! J$,G$%! B$B$%JY,2#B! #%2$%7#)! #*! G$A2794G#G5U2#794$%!

M$6G!G#7UA2#$,2:!@7!B#+2!U$#%!$#%4$#26#94$7![$,72Y%G%#7:! 3%!G#$7$*!W5X#2$6!J$,G$!#94!*#94!G$*!<$,$#94!

M#6*U(*X$2$%8!5%%Y4$,%&!#%G$*!#94!8A$,72!UA,8!5AS!G$%!566B$*$#%$%!W(*X$2$%8+$B,#SS!)(%!"$#%$,2!

$#%B$4$&! G$,! \,A%G65B$! Sa,! G57! E72$,,$#94#794$! <#6GA%B77c72$*! #72:! [(%! G#$7$*! <$B,#SS! 5A7B$4$%G!

J$,G$! #94! $#%$! <,a9U$! 8A,! I$G#$%U(*X$2$%8! 79465B$%&! J$#6! M#6*! #%! G$%! J#77$%7945S26#94$%! A%G!

794A6#794$%! T#7UA,7$%! 8A*! a+$,B$(,G%$2$%! <$,$#94! G$,! I$G#$%! B$8Y462! J#,G:! T57!

I$G#$%U(*X$2$%8`I(G$66!)(%!T#$2$,!<559U$!%$4*$!#94!567!;A7B5%B7XA%U2:!3*!;%7946A77!5%!<559U$!

45+$%! $#%#B$! ;A2(,3%%$%! ;%X577A%B$%! 5A7! G$A2794G#G5U2#794$,! 1#942! )(,B$%(**$%:! T#$! Sa,! M#6*!

,$6$)5%2$%![$,Y%G$,A%B$%!*E942$!#94!5AS8$#B$%&!J(+$#!#94!*#94!a+$,+6#9U7*Yf#B!5AS!,$X,Y7$%252#)$!

D(7#2#(%$%!+$8#$4$%!J$,G$:!!

ZI\IQ &98!`LUD9492Y09A8166!EL2!W912984!

T$,!W(*X$2$%8+$B,#SS&!5%!G$*!7#94!G57!E72$,,$#94#794$!<#6GA%B77c72$*!(,#$%2#$,2&!725**2!)(%!M,5%8!

"$#%$,2:!@,!G$S#%#$,2!W(*X$2$%8$%!567!

G#$!+$#! 3%G#)#GA$%!)$,SaB+5,$%!(G$,!GA,94!7#$!$,6$,%+5,$%!MY4#BU$#2$%!A%G!M$,2#BU$#2$%&!A*!

+$72#**2$! D,(+6$*$! 8A! 6E7$%&! 7(J#$! G#$! G5*#2! )$,+A%G$%$%! *(2#)52#(%56$%&! )(6#2#(%56$%!

A%G! 7(8#56$%! <$,$#27945S2$%! A%G! MY4#BU$#2$%&! A*! G#$! D,(+6$*6E7A%B$%! #%! )5,#5+6$%!

1#2A52#(%$%!$,S(6B,$#94!A%G!)$,5%2J(,2A%B7)(66!%A28$%!8A!UE%%$%:!i"$#%$,2&!-../&!1:!-L!S:j!!

"Y4,$%G!)(,!G$,!W(*X$2$%8(,#$%2#$,A%B!N$4,8#$6$!)(,B$B$+$%!J5,$%&!G#$!8A!$,,$#94$%!J5,$%&!B$42!

$7! g$282!A*!]MY4#BU$#2$%!A%G!M$,2#BU$#2$%_&!G#$!194a6$,3%%$%!$,J$,+$%!7(66$%!A%G!G#$! 7#$!G5%%!5AS!

5%G$,$! 567! G#$! B$a+2$%! <$,$#94$! 8A,! D,(+6$*6E7A%B! 5%J$%G$%! UE%%$%! 7(66$%:! T$,!

Z5%G6A%B7(,#$%2#$,A%B!J#,G!$#%!B,(f$,!12$66$%J$,2!+$#B$*$77$%:!

\,A%G7Y286#94! #72!J#942#B&!G577!$7!%#942!%A,!A*!G#$!;%$#B%A%B!U(B%#2#)$%!"#77$%7!B$42&!7(%G$,%!A*!

G#$!;%J$%GA%B!G$7!\$6$,%2$%!5AS!5%G$,$&!)$,B6$#94+5,$!N$,%7#2A52#(%$%:!"$#%$,27!;%7528!Sa4,2!5A94!;7X$U2$! $#%&! G#$! #%! M(6B$!J$#2! ,$#94$%G$![$,Y%G$,A%B$%! Sa,! G$%!h%2$,,#942756625B! +$G$A2$%:! 1(! #72!

794(%! 5%B$6$B2&! G577! G$*! 7$6+72Y%G#B$%! =A%! A%G! G$*! ;AS+,#%B$%! )(%! @#B$%#%#2#52#)$! )#$6! *$4,!

\$J#942! #*! N$,%X,(8$77! +$#B$*$77$%! J#,G:! T57! 452! U(%7$kA$%2$,! "$#7$! $#%! )$,Y%G$,2$7! N$4,$,`

194a6$,`[$,4Y62%#7! 8A,! M(6B$:! ;A7! N$4,$,7#942! B$42! $7! %#942! *$4,! 5A77946#$f6#94! A*!*EB6#9472! BA2$!

"#77$%7)$,*#226A%B&!7(%G$,%!A*!;%6$#2A%B!8A*!7$6+72)$,5%2J(,26#94$%!N$,%$%!A%G!A*!>$S6$V#(%!G$7!

$#B$%$%! N$,%X,(8$77$7:! 3*! h%2$,794#$G! 8A! G$%! <#6GA%B78#$6$%&! B$42! $7! +$#! G$%! W(*X$2$%8$%! 567(!

%#942!*$4,!A*!$#%$!5A7S(,*A6#$,2$!e#$6)(,B5+$&!7(%G$,%!A*!$#%$!B,A%G7Y286#94!%$A$!;A7,#942A%B!G$7!

N$,%$%7! A%G! N$4,$%7! 5AS! *$4,$,$%! @+$%$%:! ;A7B$4$%G! )(%! "$#%$,2! J#,G! G$,! W(*X$2$%8+$B,#SS!

B$B$%JY,2#B! 65AS$%G! X,Y8#7#$,2&! J(+$#! $#%! B,A%G6$B$%G$7! @6$*$%2! G$7! W(*X$2$%8B$G5%U$%7! G#$!

]3%2$B,52#(%! )(%! "#77$%! A%G! Z5%G$6%! +8J:! )(%! "#77$%! A%G! MY4#BU$#2$%_! #72:! i'5Bc! O! 12,AB$,! O!

"#%2$,72$#%$,&! -./-&! 1:! /0Pj! @#%! %#942! 8A! )$,%5946Y77#B$%G$,! ;7X$U2! #72! G#$! I$77+5,U$#2! G$,!

N$,%$,B$+%#77$:!T#$!$,J(,+$%$%!W(*X$2$%8$%!J$,G$%!725%G5,#7#$,2!a+$,X,aS2!`! #%!^72$,,$#94!GA,94!

125%G5,G2$727! #%! G$,! h%2$,72AS$! A%G! G#$! 2$#68$%2,#$,2$! >$#S$X,aSA%B! #%! G$,! F+$,72AS$:!

W(*X$2$%8(,#$%2#$,A%B! +$G$A2$2! 5A94! ]h*72$66A%B! )(%! G$,! 3%XA2`! 8A,! FA2XA2(,#$%2#$,A%B_:!

iM,$G$U#%B&!-..P&!1:!Qj!!

1$#2$!27!

ZI\IS ,/2=>52A3L8192419849!C23F4Y9!Y58!%9=192@LUD9492Y!

Z5%G6A%B7(,#$%2#$,2$!I$G#$%5%7Y28$!45+$%!8A*!e#$6!G#$!Z5%G6A%B7SY4#BU$#2$%!G$,!194a6$,3%%$%! #*!

I$G#$%+$,$#94! 8A! $,J$#2$,%! A%G! 7#$! B6$#948$#2#B! GA,94! G$%! X,(GAU2#)$%! h*B5%B! *#2! I$G#$%! 8A!

5U2#)$%&!U,#2#794$%!A%G!7$6+72+$72#**2$%&!U(*X$2$%2$%!I$G#$%%A28$,%!8A!$,8#$4$%:!i[B6:!M,$G$U#%B!O!W,(**$,!OI5#J56G&!-./-&!1:!L.!A%G!>E66&!-..L&!1:!/Lj!1#$!J$%G$%!7#94!B$B$%!G#$!;ASS577A%B&!G#$!

>$8#X#$%23%%$%!7$#$%!X577#)$!@*XSY%B$,3%%$%:!!

ZI\ISIQ &/3!%9=192<%L=9>>!EL2!&19498!G//:@9!

T57! ;A7B5%B7*(G$66! Sa,! 566$! B$B$%JY,2#B$%! u+$,6$BA%B$%! 8A,! I$G#$%U(*X$2$%8! 725**2! )(*!

I$G#$%J#77$%7945S26$,!T#$2$,!<559U$!i<559U$&!/RL0j:!<$,$#27!#%!G$%!/RL.$,!H54,$%!$%2J#9U$62&!452!$7!

7$#24$,! $#%#B$! 194Y,SA%B$%! B$B$+$%:! @7! 7(66! 4#$,! #%! \,A%G8aB$%! G5,B$72$662! J$,G$%:! T#$2$,! <559U$!

A%2$,2$#62!!I$G#$%U(*X$2$%8!#%!)#$,!=$#6U(*X$2$%8$%d!!

w %9=192@52=9!!!T#$7$,! =$#6+$,$#94! +$#%4562$2! G#$! W$%%2%#77$&! M$,2#BU$#2$%! A%G! MY4#BU$#2$%! #*! h*B5%B! *#2!

I$G#$%!8:<:!G#$!Z5%G45+A%B!G$,!\$,Y2$:!!

w %9=192@8141@! A*S5772! G#$! MY4#BU$#2! I$G#$%#%4562$! 8A! 5%56c7#$,$%! A%G! 8A! ,$S6$U2#$,$%:! T58A!

B$4E,2!5A94!G#$!MY4#BU$#2!7$#%!$#B$%$7!Z5%G$6%!%594!$24#794$%!I5f72Y+$%!5A78A,#942$%:!!!

w %9=192254Y52A! +$794,$#+2! 7(J(46! G#$! W(*X$2$%8! I$G#$%5%B$+(2$! B$8#$62! %594! 7X$8#$66$%!

<$Ga,S%#77$%! 5A78AJY46$%! i8:<:! 3%S(,*52#(%&! h%2$,4562A%B&! N$,%$%! $29:j&! 8A! $,6$+$%! A%G!

+$JA772!8A!)$,5,+$#2$%!567!5A94!5U2#)!45%G$6%G!5AS!I$G#$%5%B$+(2$!8A!,$5B#$,$%:!Z#$,!B$42!$7!

5A94!G5,A*&!I$G#$%X,(GAU2$!4$,8A72$66$%!A%G!8A!)$,ESS$%26#94$%:!

w %9=192A934/>452A! #72! G#$! MY4#BU$#2! I$G#$%! #%%()52#)! 5%8AJ$%G$%&! A%2$,794#$G6#94$!I$G#$%!

%$A!8A! U(*+#%#$,$%!A%G!8A!X,Y7$%2#$,$%:!T$,!Y724$2#794$!;7X$U2!G$,!I$G#$%X,(GAU2#(%! SY662!

$+$%S5667!#%!G#$7$%!<$,$#94:!!

T$,! =$#6+$,$#94! I$G#$%UA%G$! #72! +$#! <559U$! G$,! ;A7B5%B7XA%U2! Sa,! G#$! 5%G$,$%! B$%5%%2$%!

I$G#$%2$#6U(*X$2$%8+$,$#94$&!G5!$,!B,A%G6$B$%G$!=$94%#U$%!A%G!M$,2#BU$#2$%!+$#%4562$2:!T57!4$#f2!

5+$,! %#942&! G577! 8A$,72! G$,! B5%8$! =$#6+$,$#94! G$,!I$G#$%UA%G$! 5+B$5,+$#2$2! J$,G$%!*A77&! +$)(,!

*5%! 8A! G$%! 5%G$,$%! <$,$#94$%! a+$,B$42:! T#$! 5%G$,$%! I$G#$%2$#6U(*X$2$%8$%! 7(66$%! #%! 566$%!

45%G6A%B7(,#$%2#$,2$%!I$G#$%U(*X$2$%8*(G$66$%!+$,$#27! #%! $#%$,! S,a4$%!D457$! #%)(6)#$,2!J$,G$%&!

8A*56! HAB$%G6#94$! U$#%$! ;%SY%B$,! #*! h*B5%B! *#2! I$G#$%! 7#%G! A%G! 5AS! M#6*$,S54,A%B$%!

8A,a9UB,$#S$%! UE%%$%:! @%2794$#G$%G! #72! <559U$7! [$,65B$,A%B! ])(%! $#%$*! 5A77946#$f6#94! X577#)$%&!

A%*a%G#B$%!>$8#X#$%2$%!8A!$#%$*!5U2#)$%!I$G#$%%A28$,:_!i12#6$22(&!-..0&!1:!0/j!!

ZI\ISIS &9543:;=1=/@413:;9!%L=161@/41L292!EL2!G//:@93!%L=9>>!

;A7B$4$%G! )(%! <559U$7! ]I$G#$%U(*X$2$%8`h,*(G$66_! iW5**$,$,&! -..R&! 1:! QQj! B#+2! $7! *$4,$,$!

@,J$#2$,A%B$%&! G#$! )$,7A94$%! G$%! I$G#$%U(*X$2$%8`<$B,#SS! 5A7! G#G5U2#794$,! 1#942! B,$#S+5,! 8A!

*594$%:!T#$!Z5%G6A%B7(,#$%2#$,A%B!G$,!I$G#$%$,8#$4A%B! #72! 5A94!+$#! \$,45,G! =A6(G8#$9U#! 8$%2,56:!

Z5%G6A%B7(,#$%2#$,A%B!+$G$A2$2!4#$,!8J$#$,6$#d!@#%$,7$#27!#72!7#$!G57!a+$,B$(,G%$2$!e#$6&!J$#6!7#$!5AS!

]$#%!7594B$,$942$7&!7$6+72+$72#**2$7&!U,$52#)$7&!7(8#56)$,5%2J(,26#94$7!Z5%G$6%! #*!eA75**$%45%B!*#2!I$G#$%_!i=A6(G8#$9U#&!/RRL&!1:!/-.j!5+8#$62:!;%G$,$,7$#27! #72!*#2!Z5%G6A%B7(,#$%2#$,A%B!5A94!$#%!

8$%2,56$7!I(*$%2!G$,!h%2$,,#9427*$24(G$!B$*$#%2&! GA,94!G57!I$G#$%U(*X$2$%8! $,,$#942!J$,G$%!

7(66:! T#$! ]$#B$%$! \$72562A%B! *$G#56$,! ;A775B$%_! i>E66&! -..L&! 1:! /Kj! 7(66! B6$#948$#2#B! 8A,! 'A28A%B&!

>$S6$V#(%! a+$,!"#,UA%B$%! A%G! 8A*!TA,947945A$%! G$,! D,(GAU2#(%7`! A%G! T#72,#+A2#(%7+$G#%BA%B$%!

+$SY4#B$%:! @#%! <$#7X#$6! Sa,! Z5%G6A%B7(,#$%2#$,A%B! Sa,! G$%! <$,$#94! M#6*! JY,$! G#$! Z$,72$66A%B! $#%$7!

M#6*7&! G$,! G5%%! 5AS! m(A=A+$! B$72$662! J#,G! A%Gb(G$,! #%! M(,*!)(%!T[T7! )$,U5AS2!J#,G:! 3*! eAB$!G$7!

Z$,72$66A%B7X,(8$77$7!J$,G$%!)#$6$,6$#!W(*X$2$%8$%!$,J(,+$%:!

1$#2$!28!

'(,+$,2!\,($+$%!(,#$%2#$,2!7#94!5%!+$#G$%!(+$%!B$%5%%2$%!I(G$66$%!A%G!$,J$#2$,2!7#$!8A!S(6B$%G$%!

7#$+$%!T#*$%7#(%$%d!!

w I$G#$%J#77$%bI$G#56#2Y27+$JA7727$#%!

w @%2J#9U6A%B!*$G#$%7X$8#S#794$,!>$8$X2#(%7*A72$,!

w I$G#$%+$8(B$%$!\$%A77SY4#BU$#2!

w I$G#$%+$8(B$%$!W,#2#USY4#BU$#2!

w 1$6$U2#(%bW(*+#%52#(%!)(%!I$G#$%*A72$,%!

w ;A7+#6GA%B!X,(GAU2#)$,!D5,2#8#X52#(%7*A72$,!

w MY4#BU$#2!8A,!;%7946A77U(**A%#U52#(%!i[B6:!M,$G$U#%B!O!W,(**$,!O!I5#J56G&!-./-&!1:!R.`R/j!!

;Af$,G$*!)$,Y%G$,2!$,!G$%!<$B,#SS!I$G#$%U(*X$2$%8!8A!I$G#$%45%G6A%B7U(*X$2$%8:!;67!J#942#B$!

'$A$,A%B$%! 7#%G! 7X$8#$66! \,($+$%7! ;AS%54*$! G$,! *$G#$%+$8(B$%$%! \$%A77SY4#BU$#2! A%G! G#$!

T#*$%7#(%!G$,!;%7946A77U(**A%#U52#(%!4$,)(,8A4$+$%:!\,($+$%7!;%7528!GA,94+,#942!G#$!=,5G#2#(%!

],52#(%56`#%2$66$U2A$66$,!>$8$X2#(%74562A%B$%_:!iM,$G$U#%B!O!W,(**$,!O!I5#J56G&!1:!R.j!@,!)$,72$42!

G#$! I$G#$%5%B$+(2$! 567! $*(2#(%56! A%G! X$,7E%6#94! +$,$#94$,%G&! JY4,$%G! G#$! W,#2#USY4#BU$#2! 567!

]\,A%G65B$!$#%$,!5%56c2#794`G#725%8#$,2$%!I$G#$%%A28A%B_!iM,$G$U#%B!O!W,(**$,!O!I5#J56G&!1:!R.j!

#4,$! "#942#BU$#2! +$4Y62:! \,($+$%! 72$662! 7#94! B6$#948$#2#B! 7$6+72! G#$! M,5B$&! #%J#$J$#2! X,#%8#X#$66!

]*$G#$%+$8(B$%$! \$%A77SY4#BU$#2_! i\,($+$%&! -..-&! 1:! /L.! `! /L-j! 8A*! W(*X$2$%8+$B,#SS! B$4E,$%!

U5%%&! G5! G$,! W(*X$2$%8+$B,#SS! (A2XA2`(,#$%2#$,2! 5AS! u+$,X,aS+5,U$#2! 5+8#$62:! "$%%! *#2!\$%A77SY4#BU$#2! Y724$2#794$,! \$%A77! GA,94! +$JA772$,$! >$8$X2#(%! B$*$#%2! #72&! +6$#+2! Sa,! #4%! G#$!

M,5B$&!(+!A%G!J#$!G#$7$!O+%5"%'+45"&?1=,"%"-/!a+$,X,aS+5,!JY,$:!;%7946A77U(**A%#U52#(%!J#,G!+$#!

\,($+$%! 567! 7$X5,52$! 5+$,! 8$%2,56$! T#*$%7#(%! 5%B$Sa4,2:! T#$! 7(8#56$! 3%2$,5U2#(%! GA,94!

W(**A%#U52#(%!a+$,!I$G#$%!#72!$#%!J#942#B$7!I#22$6!G$,!3%2$B,52#(%!A%G!Sa,!g$G$bg$G$%!]#*!>54*$%!

G$,!1(8#56#752#(%!#%!G$,!I$G#$%B$7$667945S2_!i\,($+$%!-..-&!1:!/LRj!+$G$A275*:!!

T$,! T$A2794G#G5U2#U$,! 3%B(! W5**$,$,! )$,7A942! $#%$! 1c%24$7$! 5A7! G$%! +#74$,! 5%B$Sa4,2$%! G,$#!

I(G$66$%! 8A! +#6G$%:! @,! B$42! 5AS! <559U$7! I(G$66! *#2! )#$,! =$#6U(*X$2$%8$%! G$,! I$G#$%$,8#$4A%B!

8A,a9U&! #%2$B,#$,2!5+$,!=A6(G8#$9U#7!A%G!\,($+$%7!I(G$66$&! #%G$*!$,!<559U$7!)#$,!=$#6U(*X$2$%8$%!

#%45626#94! $,J$#2$,2:!1$#%! e#$6! #72!$#%!]G#G5U2#794!45%G45++5,$7! W(%72,AU2! )(%!I$G#$%U(*X$2$%8!8A!

S#V#$,$%_! iW5**$,$,&! -..R&! 1:! QQj:! T57! ]*$G#56$! M$6G! G$,! ;%7946A77U(**A%#U52#(%_! iW5**$,$,&!

-..R&! 1:! QPj! %#**2! $,! 567! Sa%S2$! W52$B(,#$! 5AS! A%G! +$8$#94%$2! G#$7$! @+$%$! 567! ]566A*S577$%G$!

G#7UA,7#)$!I$25$+$%$_!iW5**$,$,&!-..R&!1:!QPj&!G#$! #%! g$G$*!Z5%G6A%B7+$,$#94&!$B56!(+!$7!A*!G#$!

<$794YS2#BA%B!*#2!"#77$%&!A*!=$V25%56c7$&!=$V2B$72562A%B$%!566$,!;,2&! >$S6$V#(%!(G$,!D,Y7$%252#(%!

B$42&! ,$6$)5%2! #72:! ;%7946A77SY4#B! #72! 7#$! #*! T$A2794A%2$,,#942! 5Af$,G$*&! J$#6! 7#$! GA,94! G#$!

N#2$,52A,G#G5U2#U! )$,2,5A2! #72:! W5**$,$,! ,a9U2! G#$! <$794YS2#BA%B!*#2! S#6*#794$%! =$V27(,2$%! 5%! $#%$!

J#942#B$!12$66$:!i[B6:!W5**$,$,&!-..R&!1:!QRj!T#$7$!M(UA77#$,A%B!Sa4,2!$,!G#G5U2#794!A%G!*$24(G#794!

5%! $#%$*! U(%U,$2$%! \$%,$+$#7X#$6! )(,:! @V$*X65,#794! A%G! B$8#$62! +$5,+$#2$2! $,! U6$#%$! *$G#56$!

<5A72$#%$:!W5**$,$,!+$2,5942$2!G#$7!567!$#%$!;,2!)#7A$66$!;6X45+$2#7#$,A%B:!i[B6:!W5**$,$,&!-..R&!1:!

LQj!

I#2! G$*! <6#9U! 5AS! G$%!I$G#$%J$947$6! 452! HA225!"$,*U$! `! $+$%S5667! #%! ;%6$4%A%B! 5%! <559U$! A%G!=A6(G8#$9U#! `! #%! #4,$*! W(%8$X2! I$G#$%A%2$,,#942! #%! G$%! T$A2794A%2$,,#942! #%2$B,#$,2:! "$7$%26#94$!

@,J$#2$,A%B7+5A72$#%$!7#%G! 2,5%7*$G#56$!W(*X$2$%8&!U,$52#)$!I$G#$%U(*X$2$%8!A%G! #%2$,*$G#56$!

W(*X$2$%8:!1#$!7X,#942!)(%!$#%$*!N#2$,52A,`!A%G!I$G#$%A%2$,,#942&!G$,!8A*!e#$6!452!N$7$U(*X$2$%8&!

I$G#$%U(*X$2$%8&! Y724$2#794$! <#6GA%B! A%G! X(6#2#794$! <#6GA%B! 8A! )$,*#22$6%:! i[B6:! M,$G$U#%B! O!

W,(**$,! O! I5#J56G&! -./-&! 1:! LQ! A%G! "$,*U$&! -./-&! 1:! RR! `! /.0j! T5! =$V2$! #%! )#$6$%! *$G#56$%!

M(,*$%! )(,6#$B$%&! 8:! <:! 567! <a94$,&! ZE,7X#$6$&! M#6*$! $29:! U5%%! G57! <A94! %#942! #7(6#$,2! +$2,5942$2!

J$,G$%:![#$6*$4,!B$42!$7! #*!N#2$,52A,A%2$,,#942!G5,A*!B,$%8a+$,794,$#2$%G$&! #%2$,*$G#56$!<$8aB$!

GA,94!I$G#$%J$947$6!4$,8A72$66$%:!

1$#2$!29!

;%! <559U$7! ;%7528! J#,G! #%45626#94! U,#2#7#$,2&! G577! $,! G#$! Y724$2#794$! T#*$%7#(%! a+$,7$4$%! 45+$:!

i12#6$22(&!-..0&!1:!0Qj!I$G#$%!,#942$%!7#94!8A$,72!5AS!G#$!7#%%6#94$!"54,%$4*A%B:!T$7456+!$,794$#%2!

$7!A%8A,$#94$%G&!U,$52#)$!D,(8$77$!G$,!I$G#$%B$72562A%B!G$,!U,#2#794$%!>52#(%56#2Y2!A%2$,8A(,G%$%:!

T57!T$%U$%!A%G!W(**A%#8#$,$%!#%!<#6G$,%!*a772$!=$#6!G$,!I$G#$%U(*X$2$%8!7$#%&!J$#6!1X,594$!G#$!

W(*X6$V#2Y2!5AS!)#7A$66$,!@+$%$!%#942!S577$%!U5%%:!

F+J(46!G#$!I(G$66$!)(%!=A6(G8#$9U#&!\,($+$%!A%G!W5**$,$,!<559U$7!;A7B5%B7*(G$66!A*!J#942#B$!

;7X$U2$!J#$! $2J5!Z5%G6A%B7(,#$%2#$,A%B&! \$%A77SY4#BU$#2! A%G! ;%7946A77U(**A%#U52#(%! $,J$#2$,%!

A%G! BA2! 5%! G$%! N#2$,52A,A%2$,,#942! 5%7946A77SY4#B! 7#%G&! J#,G! X,#*Y,! 5%! G$,! W(**A%#U52#(%! GA"*!

I$G#$%! S$72B$4562$%:! T$,! M#6*XYG5B(B$! 12#6$22(! U(**2! 8A! G$*! 1946A77&! G577! $#%!

D$,7X$U2#)$%J$947$6!8A!W(**A%#U52#(%!)3*45!<#6G$,!%A,!B$6#%B$%!U5%%&!J$%%!*5%!G#$!Y724$2#794$%!

;7X$U2$! kA$,6#$B$%G! i8:! <:! #%! <559U$7! )#$,! =$#6U(*X$2$%8$%j! )$,5%U$,2! i)B6:! 12#6$22(&! -..0&! 1:! 0Pj&!

)(,5A7B$7$282!*5%!J#66!5%!<559U$7!I(G$66!S$724562$%:!I$G#$%!*a772$%!#%!$#%$*!I$G#$%U(*X$2$%8`

I(G$66!567!W(**A%#U52#(%7*#22$6!5ASB$S5772!J$,G$%&!G#$!%#942!$,72!)$,7X,5946#942!J$,G$%!*a77$%:!

I#945$6! 125#B$,! 567! T$A2794G#5G5U2#U$,! Sa4,2! A%2$,794#$G6#94$! W(*X$2$%8+$,$#94$! 8A! $#%$,!

I$G#$%UA62A,U(*X$2$%8!8A75**$%:!i[B6:!1X#$6*5%%&!-.//&!1:!/Kj!@,!Sa4,2!Sa%S!=$#6U(*X$2$%8$%!5%d!

N$7$U(*X$2$%8bN#2$,5,#794$! W(*X$2$%8&! 194,$#+`! A%G! 194,#S2U(*X$2$%8&! 5AG#2#)$! W(*X$2$%8&!

#%2$,*$G#56$! W(*X$2$%8! A%G! )#7A$66$! W(*X$2$%8:! 125#B$,! $,J$#2$,2! 5A94! G#$! N$,%+$,$#94$! G$7!

T$A2794A%2$,,#9427!194,$#+$%&!N$7$%&!1X,$94$%&!ZE,$%!A*!G$%!<$,$#94!1$4$%:!@,!+$2(%2!566$,G#%B7&!G577! $7! 8A,! h*7$28A%B! G$,! )$,S6(942$%$%! W(*X$2$%8+$,$#94$! $#%! SY94$,a+$,B,$#S$%G$7! I(G$66!

+,YA942$&!A*!566$!=$#6U(*X$2$%8$%!5+G$9U$%!8A!UE%%$%:!i1X#$6*5%%&!-.//&!1:!/Kj!!

!

;++:! /.d! <$,$#94$! G$,! I$G#$%UA62A,U(*X$2$%8! #%! T$A2794! iqA$66$d! )(%! 125#B$,&! -..L&! 5A7!

1X#$6*5%%&!-.//&!1:!/Lj!

ZI\ISIX "1>UDF=/ALA13:;98!C23/4Y!

>5X45$6! 1X#$6*5%%! 452! G57! M,$#+A,B$,! M#6*9A,,#9A6A*! #*! >54*$%! $#%$7! M#6*S(,794A%B7X,(g$U27!5%!

G$,! DYG5B(B#794$%! Z(94794A6$! M,$#+A,B! #%! T$A279465%G! *#2$%2J#9U$62:! @,! B$42! )(*!

1$#2$!30!

@%272$4A%B7X,(8$77! G$7! M#6*7! 5A7! A%G! ,$GA8#$,2! 5A7! G#$7$,! D$,7X$U2#)$! G#$! e546! G$,! +$2$#6#B2$%!

T#78#X6#%$%:! 3%! 7$#%$*! <57#7*(G$66! G$,! X,(GAU2#(%7(,#$%2#$,2$%! M#6*G#G5U2#U&! 2$#62! $,! B,A%G6$B$%G$!

M#6*U(*X$2$%8$%!5AS!G#$!G,$#!=,YB$,SY94$,!T$A2794&!WA%72!A%G!IA7#U!5AS&!J$#6!7#$!7#94!*#2!"(,2&!<#6G!

A%G! =(%!+$S577$%:!\6$#948$#2#B! 2$#62! $,! G#$! D457$%!G$,! M#6*$%272$4A%B! i[(,X,(GAU2#(%&! D,(GAU2#(%&!

D(72X,(GAU2#(%j! G#$7$%! G,$#! =,YB$,SY94$,%! 8A:! Ma,! T$A2794! +$G$A2$2! G57! G#$! <$794YS2#BA%B! *#2!

794,#S26#94$%! S#6*#794$%!=$V27(,2$%!J#$!T,$4+A94!794,$#+$%!A%G!*#2!G$%!G,5*52#794$!;7X$U2$%!J#$!

1945A7X#$6:!T57!\$75*2UA%72J$,U!M#6*!J#,G!5AS!G,$#!194A6SY94$,!5ASB$2$#62!i7#$4$!;++:!//j:!!!!

!

;++:!//d!D,(GAU2#(%7(,#$%2#$,2$!M#6*G#G5U2#U!iqA$66$d!1X#$6*5%%!1:!RPj!

T#$!5%B$Sa4,2$%!W(*X$2$%8*(G$66$!G$7!G$A27947X,594#B$%!>5A*7!7(J#$!G#$![$,(,2A%B!G$7!M#6*7!#%!

G$,! T$A2794G#G5U2#U! J$,G$%! *(*$%25%! ,$B$! G#7UA2#$,2:! r724$2#794$! W(*X$2$%8$%! J$,G$%! 567!

=$#6U(*X$2$%8! $,S5772:! @#%! D,(+6$*S$6G! #72! G$,$%! @#%(,G%A%B! A%G! <$A,2$#6A%B:! ;A94! #*!

N#2$,52A,A%2$,,#942!#72!Y724$2#794$!W(*X$2$%8!$#%!=4$*5:![(6U$,!M,$G$U#%B!72$662!G#$!M,5B$&!#%J#$J$#2!

]6#2$,5,#794$7! +8J:! Y724$2#794$7! [$,72$4$%! U(*X$2$%824(,$2#794! A%G! $*X#,#794! $,4(+$%! J$,G$%!

U5%%_:!iM,$G$U#%B&!-..P+&!1:!C.j!Ma,!G$%!<$,$#94!G$,!6#2$,5,Y724$2#794$%!<#6GA%B!U(**$%!8:!<:!'5Bc&!

12,AB$,!A%G!"#%2$,72$#%$,!8A!S(6B$%G$*!1946A77d!]@7!U5%%!%#942!566$7! #%!G$,!1X,594$!G$,!W(*X$2$%8!

5A7B$G,a9U2! J$,G$%:_! i'5Bc! O! 12,AB$,! O! "#%2$,72$#%$,&! -./-&! 1:! /Q/j! W(*X$2$%8$%! 8#$6$%! 5AS!

u+$,X,aS+5,U$#2&! 567(! 5AS!*$77+5,$! @,B$+%#77$%! 5+:! <$J$B2$! <#6G$,! 7#%G! 7(! J#$! N#2$,52A,! U(*X6$V!

A%G! B,A%G7Y286#94! *$4,G$A2#B:! I$4,G$A2#BU$#2! S(,G$,2! 5AS! 1$#2$%! G$,! >$8#X#$%2#%bG$7! >$8#X#$%2$%!

U,$52#)$7!Z5%G$6%!+$#*!@%27946a77$6%!G$7!S#6*#794$%!=$V2$7:!!

1$#2$!31!

"$%%!$7! #*! eAB$!G$,!Z5%G6A%B7(,#$%2#$,A%B!A*!G#$!\$72562A%B! )(%!I$G#$%X,(GAU2$%! B$42&!*A77!

G#$! M,5B$! %594! G$,! <$A,2$#6A%B! B$72$662! J$,G$%:! W(*X$2$%2$7! Z5%G$6%! J#,G! #%! G$,! X,5U2#794$%!

;%J$%GA%B!7#942+5,:!3*!M594!<#6G%$,#794$!@,8#$4A%B!J$,G$%!+#6G6#94$!D,(GAU2$%!+$A,2$#62:!1(J(46!#%!

G$,!WA%72$,8#$4A%B!567!5A94!G$%!<#6GJ#77$%7945S2$%!J$,G$%!W(*X$2$%8*(G$66$!G#7UA2#$,2&!#%!G$%$%!

G#$! Y724$2#794$! D,5V#7! G#SS$,$%8#$,2! +$2,5942$2! J#,G:! @#%$! G#SS$,$%8#$,2$! ;A75,+$#2A%B! )(%!

X,(GAU2#(%7(,#$%2#$,2$%! W(*X$2$%8$%! #72! G58A! A%$,6Y776#94:! ;%! G#$7$%! UE%%2$! 7#94! G$,!

T$A2794A%2$,,#942!(,#$%2#$,$%:!

ZI] *:;>5336L>A9852A92!

M#6*! )$,65%B2! %594! $#%$*! #%2$,G#78#X6#%Y,$%! eAB5%B&! J$#6! M#6*! `! J57! 7$#%$! \,A%G72,AU2A,! +$2,#SS2! `!

*A62#*$G#56! #72:! <#6G&! =(%! A%G! "(,2! +#6G$%! $#%$! 1c%24$7$:! eA7Y286#94! 8A! 7$#%$,! A,$#B$%$%!

IA62#*$G#56#2Y2! #72!G57!B5%8$!T,A*4$,A*!G$,!M#6*X,(GAU2#(%!A%G!>$8$X2#(%!$+$%S5667!*A62#*$G#56:!

T5!$7!#*!E72$,,$#94#794$%!194A67c72$*!U$#%!$#B$%$7!h%2$,,#9427S594!Sa,!M#6*!+8J:!I$G#$%!B#+2&!J#,G!

$7! #%! *$#%$*! h%2$,,#9427)(,45+$%! J#942#B! 7$#%&! G$%! T$A2794A%2$,,#942! 8A*! =4$*5! M#6*!

#%2$,G#78#X6#%Y,!8A!$,J$#2$,%:!

T57!1X$8#S#794$!G$7!S#6*#794$%!@,8Y46$%7! #72!G#$!I(%25B$:!I#22$67!5%$#%5%G$,!*(%2#$,2$,!<#6G$,!A%G!

=E%$! J#,G! U(**A%#8#$,2:! I(%25B$! 6Y772! 7#94! %#942! #%! 7X,5946#94$%! W52$B(,#$%! S577$%:! I$#%$!

h%2$,,#94277$kA$%8! J#,G! G#$7$7! J$7$%26#94$! I(*$%2! G$7! 5AG#()#7A$66$%! ;%$#%5%G$,SaB$%7!

24$(,$2#794!A%G!45%G6A%B7(,#$%2#$,2!8A*!3%4562!45+$%!*a77$%:!

T#$!<$794YS2#BA%B!*#2!G$%!"#77$%7945S2$%!452!B$8$#B2&!G577!%#942!#%!$,72$,!N#%#$!G#$![$,7X,5946#94A%B!

)(%! <#6G$,%! A%G! G#$! W(**A%#U52#(%! a+$,! M#6*$! G$*! I$G#A*! M#6*! B$,$942! J#,G&! 7(%G$,%! G57!

W(**A%#8#$,$%! GA,94! +$J$B2$! <#6G$,:! T#$! +5756$! MY4#BU$#2! .'(=& 0"*+%"5"-! *A77! GA,94! G#$!

;ASJ$,2A%B! G$7! 1$4$%7! $,S(6B$%:! T#$! W(%7$kA$%8! Sa,! G#$! D,5V#7! 7(662$! 7$#%&! G#$! 5Af$,7X,5946#94$%!

;%2$#6$!G$7!M#6*7!#%!G$%!I#22$6XA%U2!8A!,a9U$%:!@7!7(66!)$,72Y,U2!A*!G#$!<#6G`!A%G!=(%$+$%$!G$7!M#6*7!

B$4$%:!

T#$!<$794YS2#BA%B!*#2!G$%!<$B,#SS6#94U$#2$%!452!)$,G$A26#942&!G577!6#%BA#72#794$!=$,*#%#!#*!S#6*#794$%!

eA75**$%45%B!#,,$Sa4,$%G!7#%G:!T57!"(,2!M#6*7X,594$!7ABB$,#$,2&!*5%!UE%%$!<$B,#SS$!J#$!"E,2$,&!

1Y28$!A7J:!G#,$U2!5AS!M#6*$!a+$,2,5B$%&!5%72522!7#$!#*!<#6G6#94$%!%$A!8A!G$%U$%:!T5*#2!M#6*!5A94!5AS!2$,*#%(6(B#794$,! @+$%$!567!5A2(%(*!J54,B$%(**$%!J$,G$%! U5%%&! B#62! $7!5A94!7X,5946#94!W65,4$#2!

8A!7945SS$%!A%G!5AS!*$25X4(,#794$%!1X,594B$+,5A94!8A!)$,8#942$%:!M#6*$!*a77$%!8:!<:!%#942!B$6$7$%&!

7(%G$,%!B$7$4$%!J$,G$%:!!

"$#2$,7!452!7#94!GA,94!G#$!<$794YS2#BA%B!*#2!G$%!"#77$%7945S2$%!Sa,!*#94!G$A26#94!B$8$#B2&!G577!G#$!

;A7$#%5%G$,7$28A%B! *#2! 3%4562! A%G! M(,*! 8A! UA,8! B,$#S2:! T57! TA,947945A$%! G$,! \$*59424$#2! G$,!

M#6*$! *A77! 7#94! 5A94! 5AS! G#$! \$*59424$#2! #%! $#%$*! 4#72(,#794$%&! B$7$667945S27X(6#2#794$%! A%7!

56625B7UA62A,$66$%! W(%2$V2! +$8#$4$%&! A*! 8A! )$,G$A26#94$%&! G577! $#%$! WA62A,! GA,94! <#6G$,!

U(**A%#8#$,2:! @7! J#,G! J#942#B! 7$#%&! M#6*$! 8A! 8$#B$%&! G#$! 5A7! )$,794#$G$%$%! S#6*#794$%! @X(94$%!

725**$%:!T5,5%!U5%%!G57!@#%B$+$22$27$#%!G$,!M#6*$!#%!$V2$,%$!W(%2$V2$!)#7A$66!24$*52#7#$,2!J$,G$%:!!

T#$! 4#$,! )(,B$72$662$%! G$A2794G#G5U2#794$%! W(*X$2$%8*(G$66$! +$#%4562$%! 8A7Y286#94! 8A! G$%!

2$94%#794$%!W(*X$2$%8$%!A%G!G$,!W(*X$2$%8!G$,! W,#2#USY4#BU$#2!5A94!Y724$2#794$&! U(**A%#U52#)$!

A%G!J#,UA%B7(,#$%2#$,2$!W(*X$2$%8$%:!;A94!\$%A77!A%G!h%2$,4562A%B7J$,2!45+$%!$#%$%!D6528:!T$,!

\$72562A%B757X$U2!+6$#+2!g$G(94!#**$,!G$,![$,7X,5946#94A%B!G$7!;AG#()#7A$66$%!%594B$(,G%$2:!!

Z5%G6A%B7(,#$%2#$,A%B! 8A*! M#6*! $,S(,G$,2&! G577! G#$! M#6*X,(GAU2#(%! 567! J#942#B$7! 45%G$6%G$7!

@6$*$%2! #%! G$%! T$A2794A%2$,,#942! 5ASB$%(**$%! J#,G:! 3%! *$#%$,! h%2$,,#94277$kA$%8! J#,G! G#$!

Z$,72$66A%B!)(%!!M#6*7$kA$%8$%!=$#6!G$7!T$A2794A%2$,,#9427!7$#%:!!

W5**$,$,7! M(UA77#$,A%B! 5AS! S#6*#794$! \$%,$7! +$#%4562$2! #%2$,$775%2$&! X,5V#7,$6$)5%2$! ;7X$U2$d!

3%45626#94$&!S(,*56$!A%G!$V2$,%$!<$2,5942A%B7X$,7X$U2#)$%!i8:!<:!4#72(,#794$&!B$7$667945S27X(6#2#794$&!

5A2(,$%7X$8#S#794$&! $29:j! UE%%$%! BA2! $#%+$8(B$%! J$,G$%:! ;AS! G$,! <57#7! U6$#%$,&! G#G5U2#794`*$24(G#794$,!<5A72$#%$!6577$%!7#94!S#6*#794$!\,A%G65B$%!#%!G$,!194A6X,5V#7!)$,*#22$6%:!T$,![$,B6$#94!

1$#2$!32!

)$,794#$G$%$,! UA,8$,! M#6*7$kA$%8$%! *#2! Y4%6#94$*! 3%4562! $,65A+2! )#$6$,6$#! eAB,#SS$&! G#$! G$,!

@#B$%72Y%G#BU$#2!G$7!I$G#A*7!B$,$942!J$,G$%:!

"$,*U$7!W(%8$X2!S(UA77#$,2!5AS!G$%!I$G#$%J$947$6:!T5!$7!#%!*$#%$*!h%2$,,#9427)(,45+$%!A*!G#$!

+5756$%!S#6*#794$%!MY4#BU$#2$%!B$4$%!7(66&! #72!G#$7$7!W(%8$X2! #%!G#$7$*!M566!%#942!X577$%G:!;A94!G#$!

I(G$66$! )(%! 125#B$,! A%G! 1X#$6*5%%&! G#$! )(%! $#%$*! SY94$,a+$,B,$#S$%G$%! h%2$,,#942! 5A7B$4$%&!

6577$%! 7#94! 5ASB,A%G! G$,! #%! G$,! @#%6$#2A%B! +$794,#$+$%$%! >54*$%+$G#%BA%B$%! %#942! #%! #4,$,!

\$75*24$#2! 5AS! *$#%$! U(%U,$2$! h%2$,,#94277#2A52#(%! a+$,2,5B$%:! 394! 45+$! #%! G$,! S594G#G5U2#794$%!

N#2$,52A,!%(94!U$#%!W(*X$2$%8*(G$66!B$SA%G$%&!G57!G#$!B,A%G6$B$%G$%!S#6*#794$%!M$,2#BU$#2$%!8A*!

3%4562!452&!U5%%!g$G(94!$#%8$6%$!;7X$U2$!5A7!A%2$,794$#G6#94$%!I(G$66$%!4$,5%8#$4$%:!

!

!

!

1$#2$!33!

\ G#$&(-J*KT$#)#*+,'!OT.JCG'-!!

3%! G#$7$*! W5X#2$6! B$42! $7! G5,A*! 8A! 7945A$%&! #%J#$J$#2! G$,! *$G#56$! D5,5G#B*$%J$947$6&! G#$!

)$,Y%G$,2$! I$G#$%,$8$X2#(%! HAB$%G6#94$,! A%G! G#$! 8A%$4*$%G$! "#942#BU$#2! G$,! +$J$B2$%! <#6G$,!

@#%B5%B! #%! G#$! 194A6$! B$SA%G$%! 45+$%:! I$#%! <6#9U! ,#942$2! 7#94! #%! $,72$,! N#%#$! 5AS! S(6B$%G$! M,5B$%d!

"#,G!G$,!"#942#BU$#2!G$,!I$G#$%!>$94%A%B!B$2,5B$%v!"$694$%!12$66$%J$,2!452!7X$8#$66!G$,!<$,$#94!

M#6*! #*!T$A2794`N$4,X65%v! 3%!J$694$%! eA75**$%4Y%B$%! U(**2!$,! $VX6#8#2! )(,v!"57! B$%5A! 7(66$%!

194a6$,3%%$%! #%! G$*! 7$4,! A*S577$%G$%! <$,$#94! M#6*! UE%%$%&! A*! U(*X$2$%2! 8A! 7$#%v! "$694$!

S#6*#794$%!;%2$#6$!J$,G$%!567!+$7(%G$,7!,$6$)5%2!Sa,!G$%!T$A2794A%2$,,#942!$,5942$2v!

eA$,72! J$,G$! #94! G,$#! ,$6$)5%2$! \$7$28$72$V2$! #%! G$%! <6#9U! %$4*$%:! @7! B#+2! G,$#! 5U2A$66! B$62$%G$!

\$7$28$72$V2$&!G#$!Sa,!G$%!<$,$#94!.'(=!#*!T$A2794`h%2$,,#942!,$6$)5%2!7#%Gd!

/: G$,!\,A%G7528$,6577!I$G#$%$,8#$4A%B!i<IhWW&!-../j!

-: G$,!3%S(,*52#(%7$,6577!!]T#B#256$!W(*X$2$%8!5%!^72$,,$#947!194A6$%_!i<IhWW&!-./.j!

0: G$,! F+$,72AS$%6$4,X65%! G$,! 566B$*$#%+#6G$%G$%! 4E4$,$%! 194A6$! Sa,! G57! M594! T$A2794!

i<IhWW!/5!O!/+&!-..Cj!

\IQ J852=3/4Y98>/33!%9=19298Y19;52A!

3*!\,A%G7528$,6577!8A,!I$G#$%$,8#$4A%B!5A7!G$*!H54,!-../!J#,G!S$72B$72$662&!G577!I$G#$%!#%!A%7$,$,!

\$7$667945S2! $#%$! #**$,! B,Ef$,$! >(66$! 7X#$6$%! A%G! G577! S(6B6#94! I$G#$%XYG5B(B#U! #%! G$,! 194A6$!

J#942#B$,! J$,G$%! 7(66:! I$G#$%$,8#$4A%B! 7(66! #%! 566$%! h%2$,,#9427B$B$%72Y%G$%! A%G! 194A672AS$%!

72522S#%G$%:!!

T$,! 4#$,! )$,J$%G$2$!I$G#$%+$B,#SS! A*S5772! ]1X,594$&! <#6G$,&! e$#94%A%B$%&! <a94$,&! =4$52$,! A7J:_!

i<IhWW&! -../&! 1:! -j! T57! <57#7*$G#A*! H,*645"! A%G! G#$! 5AG#()#7A$66$%! I$G#$%! J$,G$%! 567!

$%2794$#G$%G$! M5U2(,$%! +$794,#$+$%&! J$694$! G#$! "#,U6#94U$#2! G$7! I$%794$%! *#2S(,*$%:!

\,A%G7Y286#94! 7(66! G#$! 194A6$! )$,72Y,U2! 5%! G$,! ]Z$,5%+#6GA%B! U(**A%#U52#(%7SY4#B$,! A%G!

A,2$#67SY4#B$,!I$%794$%_!*#2J#,U$%!A%G!G#$! ! ]W,$52#)#2Y2! A%G!G#$! M,$AG$! 5%! $#B$%$%! 194EXSA%B$%!

5%,$B$%_:i[B6:! <IhWW&! -../&! 1:! -j! T#$!"#942#BU$#2! $#%$,! ]U(%72,AU2#)`U,#2#794$! Z562A%B_! B$B$%a+$,!

G$%!*$G#56! )$,*#22$62$%!@,S54,A%B$%!J#,G!567!J#942#B$7!h%2$,,#9427X,#%8#X!4$,)(,B$4(+$%&!J$694$7!

G57!eA,$942S#%G$%!G$7!3%G#)#GAA*7!#%!G$,!\$7$667945S2!SE,G$,%!7(66:!i[B6:!<IhWW&!-../&!1:!-j!

3*!\,A%G7528$,6577!J#,G!I$G#$%XYG5B(B#U!#%!8J$#!<$,$#94$!A%2$,2$#62d!!

• I$G#$%G#G5U2#U! *$#%2! G$%! @#%7528! 5AG#()#7A$66$,! I$G#$%! 567! h%2$,,#9427*#22$6&! G#$!

5+B$72#**2! 5AS! G#$! <#6GA%B7`! A%G! N$4,5ASB5+$%! A%G! G$%! N$4,X65%! G$7!

h%2$,,#9427B$B$%725%G7!$#%B$7$282!J$,G$%!7(66$%:!I$G#$%$,8#$4A%B!8#$62!5AS!G#$!@%2J#9U6A%B!

)(%! I$G#$%U(*X$2$%8! 5+:! Z#$,! #72! G$,! XYG5B(B#794$! h*B5%B! *#2! I$G#$%&! 567(! G#$!

]@,8#$4A%B!a+$,!I$G#$%_!i<IhWW&!-../&!1:!-j!!)$,(,2$2:!!

• I$G#$%$,8#$4A%B!+$S5772!7#94!*#2!]5!6!6!$!%!W(**A%#U52#(%7*$G#$%_!i<IhWW&!-../&!1:!-j!A%G!

G$,$%!*EB6#94$%!W(*+#%52#(%$%:! ]"(,2&! B$G,A9U2bB$7X,(94$%!A%G! \,5X4#U&! =(%&! 125%G+#6G!

A%G! +$J$B2$7! <#6G_! ! i<IhWW&! -../&! 1:! -j! J$,G$%! 567! U(%72#2A2#)$! <$725%G2$#6$! 566$,! =$V2$!

B$%5%%2:! 3%2$,%$2! J#,G! 567! W(*+#%52#(%! A%G! 567! eA75**$%Sa4,A%B! G#$7$,! \,A%G$6$*$%2$!

)$,725%G$%:!!

T$,! #*! @,6577! )$,J$%G$2$! <$B,#SS! I$G#$%U(*X$2$%8! J#,G! 567! e#$64(,#8(%2! *$G#$%XYG5B(B#794$,!<$*a4A%B$%!)$,725%G$%!A%G!5%!)#$,!<$,$#94$%!U(%U,$2#7#$,2d!!

• I$G#$%%A28A%B!

• W(**A%#U52#(%!

• I$G#$%!567!"#,27945S27S5U2(,!(G$,!I577$%*$G#$%!567!3%72#2A2#(%!

1$#2$!34!

• $#B$%$!I$G#$%794EXSA%B$%!!!

<$#! G$,! 9")'"--3%/3-$! 7(66$%! 194a6$,3%%$%! U,#2#794$! @#%7#942$%! #%! G#$! W(**A%#U52#(%! G$,!

I577$%*$G#$%! B$J#%%$%! A%G! $#%$%! *EB6#9472! +$JA772$%! A%G! 5U2#)! *#2+$72#**$%G$%! h*B5%B!

G5*#2! *EB6#94! *594$%:! T58A! B$4E,2! $7&! W(**A%#U52#(%7X4Y%(*$%$! G$,! I577$%*$G#$%! 8A!

$,U$%%$%&! A*! G57! 1X$U2,A*! 5%! $#B$%$%! Z5%G6A%B7*EB6#94U$#2$%! 5U2#)! $,J$#2$,%! 8A! UE%%$%:!

I577$%*$G#$%!7945SS$%!+$#7X#$67J$#7$!2cX#794$&!U6#794$$45S2$!A%G!,(66$%2cX#794$![$,4562$%7*A72$,:!

T57! 7(66! $,U5%%2! A%G! U,#2#794! ,$S6$U2#$,2! J$,G$%:! "$#2$,7! 7(66! I$G#$%%A28A%B! U(B%#2#)$%! A%G!

5SS$U2#)$%!<$,$#94$%!>$94%A%B!2,5B$%:!!

3*!DA%U2!?1==3-';6%'1-!J#,G!$#%$,7$#27!5AS!G#$!$,4E42$%!;A7G,A9U7`!A%G!D5,2#8#X52#(%7945%9$%!5*!

X(6#2#794$%!N$+$%!G$,!T$*(U,52#$!A%G!5%G$,$,7$#27!5AS!G#$!\$S54,!$#%$,!%A,!X577#)$%!I$G#$%%A28A%B!

4#%B$J#$7$%:!W,#2#794$!h,2$#67+#6GA%B!A%G!12Y,UA%B!G$,!Z5%G6A%B7U(*X$2$%8!7#%G!B$%5A7(! e#$6!J#$!

G#$! ;A7$#%5%G$,7$28A%B! *#2! "#,U6#94U$#2&! M#U2#(%! A%G! )$,*#22$62$,! "#,U6#94U$#2:! T#$! 194a6$,3%%$%!

7(66$%! G#$! \$*59424$#2! G$,! I$G#$%! $,U$%%$%:! T57! +$2,#SS2! G$,$%! 12,AU2A,&! G#$! 7X$8#S#794$%!

\$72562A%B7*#22$6!A%G!G#$!A%2$,794#$G6#94$%!"#,UA%B7*EB6#94U$#2$%!G$,!$#%8$6%$%!I$G#$%5,2$%!J#$!

M#6*&!T#5!$29:!i[B6:!<IhWW!-../&!1:!0j:!

3*! <$,$#94!9")'"-& 6(+& R'*%+456<%+<6;%1*! 7(66! )$,*#22$62! J$,G$%&! G577! Z$,72$66A%B&! [$,2$#6A%B! A%G!

;A7J546! G$,! I$G#$%! GA,94! $V2$,%$! M5U2(,$%! +$G#%B2! 7#%G:! "#,27945S26#94$&! 2$94%#794$&!

B$7$667945S26#94$!A%G!#G$(6(B#794$!;7X$U2$!7(66$%!A%2$,7A942!J$,G$%:!

"#$! 5*! ;%S5%B! G$7! @,6577$7! J#,G! #*! <$,$#94! :'$"-"& 9")'"-+45Y,<3-$"-! %(94! $#%*56! G5,5AS!

$#%B$B5%B$%&!G577!G57!+6(f$![$,J$%G$%!)(%!5AG#()#7A$66$%!I$G#$%!%(94!%#942!I$G#$%$,8#$4A%B!#72&!

G5!7#$!7(!)$,J$%G$2!%A,!]366A72,52#(%!G$,!12(SSG5,72$66A%B_!i<IhWW&!-../&!1:!Cj!JY,$:!T#$!X,5U2#794$!

=Y2#BU$#2! *#2! $#%$,! 5%7946#$f$%G$%! >$S6$V#(%! a+$,! G$%! Z$,72$66A%B7X,(8$77! 7(66! =$#6! G$,!

*$G#$%XYG5B(B#794$%! ;,+$#2! 7$#%:! i[B6:! <IhWW&! -../&! 1:! Cj! 194a6$,3%%$%! 7(66$%! 8A,! Z$,72$66A%B!

$#B$%$,!I$G#$%X,(GAU2$!$,*A2#B2!J$,G$%:!

;%7946#$f$%G!5%!G#$7$!W(%U,$2#7#$,A%B!J$,G$%!566B$*$#%$!Z#%J$#7$!A%G!!"'+,'"("&/3*&E3*45<G5*3-$!

B$B$+$%:! "$#6! I$G#$%! G57! "$62+#6G! +$$#%S6A77$%! A%G! 5AS! ! B$7$667945S26#94$! A%G! X(6#2#794$!

@%2794$#GA%B$%! ,a9UJ#,U$%&! 452! G#$! >$S6$V#(%! G$,! I$G#$%! $#%$%! 4(4$%! 12$66$%J$,2:! T5! 7#$! G#$!

"#,U6#94U$#2! U(%72,A#$,$%! A%G! %#942! $#%S594! %$A2,56! 5++#6G$%&! J#,G! B,(f$,! "$,2! 5AS! G#$!

T$U(G#$,A%B7SY4#BU$#2! )(%!I$G#$%+#6G$,%! B$6$B2:! i[B6:! <IhWW&! -../&! 1:! Cj:! <$#! G$%! 5AG#()#7A$66$%!

I$G#$%! 7(66$%! ]*$G#$%7X$8#S#794$! @#B$%4$#2$%! G$7! T5,B$+(2$%$%_! i<IhWW&! -../&! 1:! Cj!

5%B$7X,(94$%!J$,G$%:!T$,!%(2J$%G#B$!@#%7528!5AG#()#7A$66$,!h%2$,,#9427*#22$6!,$#942!%#942!5A7:!

3%! G$%! $#%8$6%$%! h%2$,,#9427B$B$%72Y%G$%! A%G! ])(,! 566$*! #*! iSY94$,a+$,B,$#S$%G$%j!

D,(g$U2A%2$,,#942_! i<IhWW&! -../&! 1:! Qj! UE%%$%! I$G#$%24$*$%! D6528! S#%G$%:! \$%5%%2! J$,G$%!

+$#7X#$67J$#7$!G#$!MY94$,!T$A2794&!<#6G%$,#794$!@,8#$4A%B!A%G!"#,27945S27UA%G$:!;67!<$#7X#$6!Sa,!G$%!

T$A2794A%2$,,#942!J#,G!5%B$Sa4,2&!G577!*5%!6#2$,5,#794$!"$,U$!*#2![$,S#6*A%B$%!)$,B6$#94$%!UE%%$&!

A*!G#$!IEB6#94U$#2$%!A%G! \,$%8$%!G$,! +$#G$%! WA%72S(,*$%! 5AS8A8$#B$%:! i[B6:! <IhWW&! -../&! 1:! Q!

A%G!I(U!O!@,26&!-./-&!1:!//0j!

\IS &98! #26L8U/41L2398>/33! a&1A14/>9! `LUD9492Y! /2! b3498891:;3!*:;5>92c!

T$,!-./.!$,794#$%$%$!3%S(,*52#(%7$,6577!,#942$2!7#94!5%!566$!N$4,$,3%%$%!A%G!7(66!8A,!12Y,UA%B!G$,!3=`

W(*X$2$%8$%! #%! G$,! 194A6$! +$#2,5B$%:! ;A7B$4$%G! )(%! G$,! @A,(XY#794$%! h%#(%&! J$694$!

I$G#$%U(*X$2$%8! 8A! G$%! 1946a77$6U(*X$2$%8$%! 8Y462&! J$,G$%! 3=`! A%G! I$G#$%U(*X$2$%8! 567!

2,5B$%G$! 1YA6$%! )$,725%G$%:! 1#$! 7(66$%! 7(J(46! G#$! "$22+$J$,+7SY4#BU$#2! G$7! $A,(XY#794$%!

"#,27945S2,5A*$7! 567! 5A94! G#$! 5U2#)$! =$#645+$! 5%! G$,! 3%S(,*52#(%7B$7$667945S2! 72a28$%:! 3*! M(UA7!

72$4$%!G#$!+$,AS6#94$!A%G!G#$!B$7$667945S26#94$!>$56#2Y2:!@#%$,7$#27!B$42!$7!#%!G#$7$*!@,6577!A*!]+57#9!

7U#667_! i<IhWW&! -./.&! 1:! 0j&! 567(! A*!G#$! 2$94%#794$!<$4$,,794A%B!G$,! %$A$%!I$G#$%:! ;%G$,$,7$#27!

J#,G! G$*! *a%G#B$%! h*B5%B! *#2! G$%! %$A$%! =$94%(6(B#$%! A%G! G$,! W,#2#USY4#BU$#2! $#%! B,(f$,!

1$#2$!35!

12$66$%J$,2!+$#B$*$77$%:!;67!J#942#B!J$,G$%!@#B$%)$,5%2J(,2A%B!A%G!1$6+72(,B5%#752#(%&!12,52$B#$%!

8A*! "#77$%7$,J$,+! i8:! <:! 3%2$,%$2,$94$,94$j&! ! G$,! *a%G#B$! h*B5%B! *#2! @,S54,A%B$%! i8:! <:! G$,!

194A28! G$,! D,#)527X4Y,$j! A%G! G#$! W$%%2%#7! $24#794$,! \,A%G7Y28$! i8:! <:! @#%4562A%B! G$,!

W(**A%#U52#(%7,$B$6%!#*!3%2$,%$2&!?(Xc,#B42j!$,5942$2:!!

T#B#256$! W(*X$2$%8! J#,G! 567! WA62A,2$94%#U! 5ASB$S5772&! G#$! #%! G$,! 194A6$! #%! 566$%!

h%2$,,#9427B$B$%72Y%G$%! 5A7! G$*! 7X$8#S#794$%! <6#9UJ#%U$6! G$7! g$J$#6#B$%! \$B$%725%G7! A%G!

#%2$,G#78#X6#%Y,! 8A! )$,*#22$6%! #72:! T#$! ;ASB5+$! G$,! 194A6$! #72! $7! G$,! I$G#$%U(*X$2$%8&! G#$!

HAB$%G6#94$!567!]T#B#256!'52#)$7_!i<IhWW&!-./.&!1:!0j!+$,$#27!+$#!194A6$#%2,#22!+$7#28$%&!$#%$!>#942A%B!

8A! B$+$%:! <559U$7! )#$,B6#$G,#B$7! I$G#$%U(*X$2$%8`I(G$66! i7#$4$! ;++:! /-j! J#,G! $,6YA2$,2! A%G! 567!

\,A%G65B$!Sa,!G#$!XYG5B(B#794$!;,+$#2!B$%(**$%:!i[B6:!<IhWW&!-./.&!1:!-!`!Cj!T#$!)#$,!<$725%G2$#6$!

7#%Gd!I$G#$%UA%G$&!I$G#$%U,#2#U&!I$G#$%%A28A%B!A%G!I$G#$%B$72562A%B:!

!

;++:!/-d!FX$,52#(%56#7#$,A%B!G$,!I$G#$%U(*X$2$%8!%594!<559U$!/RRP!i<IhWW&!-./.&!1:!Cj!

3*!h%2$,794#$G!8A*!I$G#$%$,6577!-../!J#,G!$#%$!%$A$!\$J#942A%B!G$,!$#%8$6%$%!=$#6$!5%B$G$A2$2:!

-../! #72! I$G#$%U(*X$2$%8! #%7B$75*2! 567! ]e#$64(,#8(%2! *$G#$%XYG5B(B#794$,! <$*a4A%B$%_!

5ASB$S5772! J(,G$%:! 3*! 3=`@,6577! 8Y46$%! %$A%! H54,$! 7XY2$,! 8J$#! <$,$#94$! G5)(%! 8A,!

I$G#$%)$,*#226A%Bd! I$G#$%UA%G$! A%G! I$G#$%U,#2#U:! T#$! 8J$#! 5%G$,$%! <$,$#94$d! I$G#$%%A28A%B!

A%G!I$G#$%B$72562A%B! S566$%! %A%! #%! G$%! <$,$#94! G$,! e#$6(,#$%2#$,A%B! i<IhWW&! -./.&! 1:! 0j:! 3%! G$,!

M(6B$! J#,G! #*! 3=`@,6577! 566$,G#%B7! G5,5AS! 4#%B$J#$7$%&! G577! 566$! )#$,! <$,$#94$! <559U$7! 567!

XYG5B(B#794$!@#%4$#2!B$62$%&!G#$!5%!G#$! H54,B5%B772AS$%!5%B$X5772! #*!1#%%$!$#%$7!1X#,569A,,#9A6A*7!

8A!)$,*#22$6%!7#%G:!

\IX &98!$9;8D>/2!12!=98!C,*!T09834569!

T$,!F+$,72AS$%6$4,X65%! #72! #%! $#%$%!566B$*$#%$%!=$#6&!+$72$4$%G!5A7!G$*!566B$*$#%$%!<#6GA%B78#$6&!

566B$*$#%$%! G#G5U2#794$! \,A%G7Y28$%&! 194A6`! A%G! h%2$,,#9427X65%A%B! A%G! G$%! 12A%G$%25S$6%!

1$#2$!36!

B$B6#$G$,2:! T5,5%! 5%7946#$f$%G! S(6B$%! G#$! N$4,X6Y%$! G$,! $#%8$6%$%! h%2$,,#9427B$B$%72Y%G$:! i[B6:!

<IhWW&!-..C5&!1:!/j!

\IXIQ C>>A9U91293!G1>=52A3Y19>!

3*! 566B$*$#%$%! =$#6! i<IhWW&! -..C5j! J#,G! )$,*#22$62&! G577! G$,! h%2$,,#942! 5AS! G#$! ,5794$%!B$7$667945S26#94$%! [$,Y%G$,A%B$%! A%G! G#$! 7#94! 794%$66! $%2J#9U$6%G$! 3%S(,*52#(%7B$7$667945S2!

,$5B#$,$%!7(66:!T$,!,$S6$U2#$,2$!h*B5%B!*#2!I$G#$%!A%G!G#$!ME,G$,A%B!G$,!h,2$#67`!A%G!W,#2#USY4#BU$#2!

i[B6:!<IhWW&!-..C5&!1:!0j!J$,G$%!5%!$#%#B$%!12$66$%!+$2(%2:!!

@#%#B$!<#6GA%B7+$,$#94$&!G#$!566$!h%2$,,#9427B$B$%72Y%G$!8A! 6$#72$%!45+$%&!J$,G$%!%Y4$,! $,6YA2$,2:!

T57!7#%G!$2J5!<$,$#94$!J#$!I$%794!A%G!\$7$667945S2&!#%!G$*!$7!A*!G57![$,72$4$%!B$7$667945S26#94$,!

eA75**$%4Y%B$!B$42!i8:!<:!*Y%%6#94$!O!J$#+6#94$!>(66$%+#6G$,j!(G$,!G$,!<$,$#94!'52A,!A%G!=$94%#U&!

G$,! $24#794$! M,5B$%! #*! eA75**$%45%B! *#2! h*J$62S,5B$%! 24$*52#7#$,2:! 3*! S#6*#794$%!

eA75**$%45%B! 7#%G! )(,! 566$*! S(6B$%G$! <#6GA%B7+$,$#94! +$7(%G$,7! ,$6$)5%2d! G$,! <#6GA%B7+$,$#94!

H,*645"&3-)&?1==3-';6%'1-!A%G!?*"6%'0'%O%&3-)&N"+%6(%3-$:!!

T$,! <#6GA%B7+$,$#94! H,*645"&3-)&?1==3-';6%'1-! U(XX$62!;A7G,A9U7`!T$%U`&! W(**A%#U52#(%7`! A%G!

Z5%G6A%B7SY4#BU$#2! 5%!G#$! 1X,594U(*X$2$%8:! TA,94! G#$!;A7$#%5%G$,7$28A%B!*#2! A%G!a+$,! 1X,594$!

7(66$%!G#$!194a6$,3%%$%!]#4,$!U(B%#2#)$%&!$*(2#(%56$%&!7(8#56$%!A%G!U,$52#)$%!W5X58#2Y2$%_!i<IhWW&!

-..C5&!1:!0j!%A28$%!A%G!$,J$#2$,%:!T$,!<$B,#SS!H,*645"!#72!#%!$#%$*!A*S577$%G$%!1#%%!B$+,5A942:!T#$!

<#6G7X,594$&!567!M(,*!)(%!1X,594$&!#72!4#$,!$VX6#8#2!567!M(,*!G$,!W(**A%#U52#(%!5%B$7X,(94$%:!!

;AS!G#$!ME,G$,A%B!)(%!Z5%G6A%B7U(*X$2$%8$%!J#,G!#%!*$4,$,$%!eA75**$%4Y%B$%!4#%B$J#$7$%:!3*!

<#6GA%B7+$,$#94!?*"6%'0'%O%& 3-)& N"+%6(%3-$! 4$#f2! $7&! G577! ]\$72562A%B7$,S54,A%B$%! 8A!*594$%!A%G!

a+$,!1#%%$!Sa4,$%G$!eABY%B$!*#2!U(B%#2#)$%!@,U$%%2%#77$%!8A!)$,+#%G$%_!i<IhWW&!-..C5&!1:!0j!7#%G:!

[$,794#$G$%$%!;,+$#27*$24(G$%!J#,G!4#$,!G$,!"$B!+$,$#2$2d!3%G#)#GA$66$!A%G!B$*$#%7945S2772#S2$%G$!

D,(8$77$!7(66$%!B6$#94$,*5f$%!=$#6!G$,!]U,$52#)`B$72562$%G$%!;,+$#2_!i<IhWW&!-..C5&!1:!Cj!!7$#%:!!

\IXIS &19!/>>A9U91292!=1=/@413:;92!J852=3F4Y9!

3%!G$%!5%7946#$f$%G$%!566B$*$#%$%!G#G5U2#794$%!\,A%G7Y28$%!J#,G!G#$!M(UA77#$,A%B!5AS!I$24(G$%`!

A%G! =$5*U(*X$2$%8! %(94!G$A26#94$,d! 1$6+72Y%G#B$! M(,*$%!G$7! N$,%$%7!J$,G$%! B$5%A7(! $,JY4%2!

J#$! G57![$,72Y%G%#7! )(%! N$,%$%! 567! D,(8$77:! W((X$,52#)$! A%G! #%G#)#GA56#7#$,2$! ;,+$#27S(,*$%! i8:! <:!

D(,2S(6#(5,+$#2j! 7(66$%! #*!h%2$,,#942! G$,! F+$,72AS$! 8A*! @#%7528! U(**$%:! T#$! %$A$%! =$94%(6(B#$%!

7(66$%!)$,72Y,U2! 8A,!>$94$,94$&! 8A,![$,5,+$#2A%B! )(%! 3%S(,*52#(%!A%G! $+$%7(!8A,!D,Y7$%252#(%!A%G!8A,!\$72562A%B!)(%!I$G#$%!B$%A282!J$,G$%:!i[B6:!<IhWW&!-..C5&!1:!Pj!

3%2$,G#78#X6#%Y,$! ;ASB5+$%&! G#$! 7#94! %#942! $#%$*! $#%8$6%$%!h%2$,,#9427B$B$%725%G! 8A(,G%$%! 6577$%&!!

7(66$%! #*! SY94$,)$,+#%G$%G$%! (G$,! SY94$,a+$,B,$#S$%G$%! h%2$,,#942! +$5,+$#2$2! J$,G$%:! @#%$!

#%2$B,52#)$! ;ASS577A%B! )(%! h%2$,,#942! J#,G! 5AS! #%45626#94$,! @+$%$! G$A26#94:! =,(28G$*! 7(66! #*!

SY94$,)$,+#%G$%G$%!h%2$,,#942!G$,!(,B5%#752(,#794$!>54*$%!+$#+$4562$%!J$,G$%:!"E,26#94!4$#f2!$7d!

]T#$!F,B5%#752#(%!G$7!%594!MY94$,%!B$2,$%%2$%!h%2$,,#9427!+6$#+2!4#$,!+$72$4$%:_!i<IhWW&!-..C5&!1:!

//j:! <$#! SY94$,a+$,B,$#S$%G$*! D,(g$U2A%2$,,#942! J#,G! $#%$! ]5ASB5+$%+$8(B$%$! +$7(%G$,$!

F,B5%#752#(%!G$7!M594A%2$,,#9427!A%G!G$7!12A%G$%X65%7_!i<IhWW&!-../&!1:!//j!$#%B$,YA*2:!!

\IXIX &98!&9543:;<$9;8D>/2!12!=98!C,*<T09834569!!

3*! N$4,X65%! Sa,! G57! M594!T$A2794!J$,G$%!G#$![(,B5+$%!G$7! 566B$*$#%$%! =$#67! 5A7! S5947X$8#S#794$,!

1#942! $,6YA2$,2! A%G! U(%U,$2#7#$,2:! 3*! h%2$,794#$G! 8A! G$%! S,a4$,$%! N$4,X6Y%$%&! G#$! 5*! N$4,72(SS!!

(,#$%2#$,2!J5,$%&! #%G$*!7#$!N$4,72(SS$!5%B$Sa4,2!45+$%&!G#$! 8A!A%2$,,#942$%!J5,$%&! #72!G$,!5U2A$66$!

T$A2794`N$4,X65%!i<IhWW&!-..C+j!5%!G$%!N$,%$,3%%$%!(,#$%2#$,2:!@,!S(,*A6#$,2!W(*X$2$%8$%&!G#$! #%!

A%2$,794#$G6#94$%! <$,$#94$%! )(%! G$%! 194a6$,3%%$%! $,J(,+$%! J$,G$%! 7(66$%:! T$*! $#B$%26#94$%!

N$4,72(SS! 7#%G! 566B$*$#%$! <#6GA%B7`! A%G! N$4,5ASB5+$%! 7(J#$! G#G5U2#794$! \,A%G7Y28$! )(,5%B$72$662:!

T$,!N$4,72(SS!7$6+72! #72! #%!W(*X$2$%8+$,$#94$!A%2$,B6#$G$,2!A%G!%594!H54,B5%B772AS$%!G#SS$,$%8#$,2&!

1$#2$!37!

J(+$#! g$J$#67! 8J$#! W6577$%72AS$%! 8A! $#%$,! @#%4$#2! 8A75**$%B$S5772! 7#%G:! Ma,! G#$! Q:bK:! W6577$! A%G!

L:bP:!W6577$!G$,!;Z1!F+$,72AS$!7#%G!W(*X$2$%8$,J5,2A%B$%!Sa,!G#$!<$,$#94$!Ia%G6#94$!W(*X$2$%8&!

194,#S26#94$! W(*X$2$%8&! =$V2U(*X$2$%8! A%G! N#2$,5,#794$! <#6GA%B! S$72B$6$B2:! T$,! N$4,72(SS! G$,!

<$,$#94$!I$G#56$!<#6GA%B!A%G!1X,594,$S6$V#(%!J#,G!Sa,!566$!)#$,!H54,$!G$,!;Z1!F+$,72AS$!Q:!`!P:!W6577$!

S$72B$6$B2:!!

G1>=52A3<!52=!$9;8/56A/09!

3%!G$,!<#6GA%B7`!A%G!N$4,5ASB5+$!J#,G!8A%Y9472!$#%*56!G57!N$,%$%!]*#2!A%G!a+$,!1X,594$_!i<IhWW&!

-..C+&! 1:! /j! B$%5A$,! 5A7B$Sa4,2:! 1X,594$! 567! I$G#A*&! 567! h%2$,7A94A%B7B$B$%725%G! A%G! 567!

Y724$2#794$7!\$72562A%B7*#22$6!#72!Sa,!G$%!T$A2794A%2$,,#942!8$%2,56!8A,!@,,$#94A%B!G$,!<#6GA%B78#$6$:!

T#$! ]W(**A%#U52#(%7`&! Z5%G6A%B7`! A%G! >$S6$V#(%7SY4#BU$#2! 7(J#$! iG#$j! Y724$2#794$! W(*X$2$%8_!

i<IhWW&!-..C+&!1:!/j!7(66$%!G5GA,94!B$SE,G$,2!J$,G$%:!!

&1=/@413:;9!J852=3F4Y9!

3%! G$%! G#G5U2#794$%! \,A%G7Y28$%! J#,G! G#$! W(*X$2$%8(,#$%2#$,A%B! G$,! B$7$286#94$%! [(,B5+$%! 7$4,!

G$A26#94:! W(%U,$2! 7#%G! 7$947! <$,$#94$! B$%5%%2&! G#$! ]#%! )#$6SY62#B$,!"$#7$_! *#2$#%5%G$,! )$,S6(942$%!

J$,G$%!7(66$%:!i<IhWW&!-..C+&!1:!-j:!T#$7$!<$,$#94$!7#%Gd!

`! Ia%G6#94$!W(*X$2$%8!

`! 194,#S26#94$!W(*X$2$%8!

`! =$V2U(*X$2$%8!

`! N#2$,5,#794$!<#6GA%B!

`! I$G#56$!<#6GA%B!

`! 1X,594,$S6$V#(%!

T#$!%$A$%!I$G#$%!7#%G! #%!566$%!7$947!@#%8$6+$,$#94$%!$VX6#8#2!5%B$Sa4,2:! <$7(%G$,7!4$,)(,8A4$+$%!

#72! 5A94! G$,! )$,J$%G$2$! =$V2+$B,#SS:! @7! J#,G! +$2(%2&! G577! A%2$,! G$%! <$G#%BA%B$%! *A62#*$G#56$,!

W(**A%#U52#(%! G$,! =$V2+$B,#SS! *$4,! 6$#72$%! *a77$! 567! S,a4$,:! T$,! <$B,#SS! =$V2! +$8#$42! 7#94! 5AS!

]=$V2$&!I$G#$%&!I$G#$%2$V2$_!i<IhWW&!-..C+&!1:!/j&!G#$!,$S6$U2#$,2!A%G! #%!794,#S26#94$,&!*a%G6#94$,!

A%G! *$G#56$,! M(,*! X,(GA8#$,2! J$,G$%! 7(66$%:! \$*$#%2! 7#%G! 4#$,! 8:! <:! G#$! @,72$66A%B! )(%!

D,Y7$%252#(%$%!A%G!G#$!@#B$%X,(GAU2#(%!Y724$2#794$,!=$V2$! #%!794,#S26#94$,&!78$%#794$,!A%G!*$G#56$,!

M(,*:! @#%! `5A94!*A62#*$G#56$,`! =$V2!J#,G! B$6$7$%! i)B6:! <IhWW&! -..C+&! 1:! -j&! J(+$#! 6$7$%! 4#$,!63<&

0'"(<O(%'$"&R"'+"& *"/','"*%&*$#%2&! 8:! <:! #%! M(,*!)(%! 194,#S2&! =$V2$%&! =E%$%!A%G!+$J$B2$%!<#6G$,:!T5!

=$V2$!g$!%594!N$7$,3%!A%2$,794#$G6#94!B$G$A2$2!J$,G$%!UE%%$%&!J#,G!N$7$%!567!3%2$,5U2#(%!]8J#794$%!

G$%! 1#%%5%B$+(2$%! G$7! =$V2$7! A%G! G$*! "$62J#77$%! A%G! =$V2J#77$%! G$,! N$7$,3%%$%! A%G! N$7$,_!

i<IhWW&! -..C+&! 1:! -j! )$,725%G$%:! @#%$,! 6#%$5,$%! ;ASS577A%B! )(%! W(**A%#U52#(%! J#,G! 4#$,! $#%$!

;+75B$!$,2$#62:!

;A94!G$,!N#2$,52A,+$B,#SS!J#,G! #%!$#%$*!$,J$#2$,2$%!1#%%!)$,J$%G$2:!3*!N$4,X65%!#72!U65,!S(,*A6#$,2&!

G577! $7! %#942! *$4,! 45AX27Y946#94! A*! G57! I$G#A*! <A94! B$42&! 7(%G$,%! A*! ])#$6SY62#B$! ,$8$X2#)$&!

5%56c2#794$&!X,(GAU2#)$!A%G!U,$52#)$!eABY%B$!8A!Y724$2#794$%!=$V2$%!566$,!I$G#$%S(,*52$_!i<IhWW!

/+&! -..C&! 1:-j:! <$794YS2#BA%B! *#2! N#2$,52A,! 7(66! %#942! %A,! GA,94! <a94$,&! 7(%G$,%! GA,94! ZE,2$V2$&!

M#6*$&! $29:! X577#$,$%:!;Af$,G$*! 7(66!*#2! N#2$,52A,! %#942! %A,! U(B%#2#)&! 7(%G$,%! 5A94! $*(2#(%56! A%G!X,(GAU2#)`45%G$6%G! A*B$B5%B$%! J$,G$%:! i[B6:! <IhWW&! -..C+&! 1:! -j! WA62A,$66$! A%G! 4#72(,#794$!

W(%2$V2$!7#%G!$+$%S5667!=$#6!G$,!6#2$,5,#794$%!;A7$#%5%G$,7$28A%B!*#2!=$V2$%:!

3*! <$,$#94!I$G#56$! <#6GA%B! 7(66! %$+$%! G$,! 2$94%#794$%! <$4$,,794A%B! G$,!I$G#$%2$94%(6(B#$! A%G!

G$,! 7X,594+57#$,2$%! <$794YS2#BA%B! *#2! 566$%! ;,2$%! )(%! I$G#$%! G#$! ;A7$#%5%G$,7$28A%B! *#2! M#6*!

72522S#%G$%:!3*!N$4,X65%!4$#f2!$7!JE,26#94d!G#$!]8$%2,56$!<$G$A2A%B!G$,!5AG#()#7A$66$%!I$G#$%!Sa,!G#$!

h%2$,4562A%B&! 3%S(,*52#(%!A%G!G#$!3G$%2#2Y27S#%GA%B!)(%! HAB$%G6#94$%_!i<IhWW&!-..C+&!1:!-j! #72!8A!

+$,a9U7#942#B$%:!

1$#2$!38!

$9;834L66!

3*!G,#22$%!;+794%#22!G$7!T$A2794`N$4,X65%7!J#,G!G$,!N$4,72(SS!5%B$Sa4,2&!G$,!)$,+#%G6#94!A*8A7$28$%!

#72! A%G! G$,! G#$! B$,5G$! 5%B$Sa4,2$%! 7$947! <$,$#94$! 5AS! G#$! U(%U,$2! 8A! $,,$#94$%G$%! W(*X$2$%8$%!

$#%$%B2:! T$,! N$4,72(SS! #72! 4#$,! Sa,! g$J$#67! 8J$#! H54,$! G$,! F+$,72AS$! iQ:bK:! A%G! L:bP:! W6577$j!

8A75**$%B$S5772:! 3*! <$8AB! 5AS! G#$! 5AG#()#7A$66$%! I$G#$%! B#+2! $7! )(,! 566$*! #%! G,$#! <$,$#94$%!

U(%U,$2$! N$4,72(SS)(,B5+$%:! T$,! W(*X6$V! =$V2U(*X$2$%8! A*S5772! #%! G$,! Q:bK:! W6577$! G#$! MY4#BU$#2!

)#$6SY62#B$&!*$G#$%a+$,B,$#S$%G$!<$8aB$!8J#794$%!=$V2$%!4$,72$66$%!8A!UE%%$%!A%G!G#$!3%2$%2#(%!A%G!

"#,UA%B! *$G#$%7X$8#S#794$,&! 7X,5946#94$,&! )#7A$66$,! A%G! 5AG#2#)$,! I#22$6! 8A! $,U$%%$%:! 3%! G$,! L:bP:!

W6577$! 7(66$%! #%! G$,! M(6B$! 8A7Y286#94! G#$! @%272$4A%B7+$G#%BA%B$%! $,U5%%2! J$,G$%&! J$694$! G#$!

\$72562A%B!)(%!=$V2$%!+$$#%S6A77$%:!;A94!G#$!MY4#BU$#2&!G#$!J$947$67$#2#B$!"#,UA%B! )(%! 3%4562!A%G!

M(,*!8A!$,U$%%$%&!#72!#%!G$,!L:bP:!W6577$!5AS+5A$%G$,!N$4,72(SS:!

T$,!<$,$#94!F'%"*6*'+45"&!'()3-$!452!$#%$!@,J$#2$,A%B!#%!>#942A%B!5AG#()#7A$66$,!=$V2$!$,S54,$%:!Z#$,!

#72! 566B$*$#%! )(%! Y724$2#794$%! =$V2$%! G#$! >$G$:! T#$! ;%56c7$XA%U2$! 6#2$,5,#794$,! =$V2$! J#$! 8:! <:!

M#BA,$%&! e$#2&! @,8Y46X$,7X$U2#)$! A7J:! J$,G$%! 5AS! S#6*#794$! ;7X$U2$! 5A7B$G$4%2:! T#$! @,S577A%B!

]S#6*7X,5946#94$,!I#22$6_!i<IhWW&!-..C+&!1:!Qj! #72!567!=$#6!G$,!"$,UX($2#U!N$4,72(SS!G$,!Q:bK:!W6577$!

F+$,72AS$:!3%!G$,!L:bP:!W6577$!7(66$%!G#$!194a6$,3%%$%!5A94!<$#7X#$6$!Ua%726$,#794$,!M#6*$!U$%%$%:!

T#$!8A! $,,$#94$%G$%!MY4#BU$#2$%! #*!<$,$#94!G$,!*$G#56$%!<#6GA%B!7#%G! Sa,!G#$! B5%8$!F+$,72AS$!G$,!

;Z1! S(,*A6#$,2:! '$+$%! G$,! I$G#$%%A28A%B7U(*X$2$%8&! G#$! 7#94! )(,! 566$*! 5AS! G#$!3%S(,*52#(%7+$7945SSA%B! A%G! `$%2%54*$! 5A7! G$%! '$A$%! I$G#$%! +$8#$42&! 7(66!

I$G#$%UA62A,U(*X$2$%8! $%2J#9U$62! J$,G$%:! 3%! G#$7$%! N$4,72(SS+$,$#94! S566$%! +$#7X#$67J$#7$! G#$!

W$%%2%#7! G$,! J$947$67$#2#B$%! TA,94G,#%BA%B! A%2$,794#$G6#94$,! I$G#$%&! G57! @,U$%%$%! )(%!

"#,UA%B75+7#942$%!*$G#56$,!=$V2$!A%G!!G#$!MY4#BU$#2!Ua%726$,#794$!;A7G,A9U7S(,*$%!#%!566$%!I$G#$%!

8A!,$8#X#$,$%&!8A!)$,B6$#94$%!A%G!8A$#%5%G$,!#%!<$8#$4A%B!8A!7$28$%:!i[B6:!<IhWW&!-..C+&!1:!Kj!

\IZ *:;>5336L>A9852A92!

T$,! \,A%G7528$,6577! #72! 5AS! G$,! ZE4$! G$7! J#77$%7945S26#94$%! T#7UA,7$7:! T#$! J#942#B$%! DA%U2$! G$,!

BY%B#B$%! I$G#$%U(*X$2$%8*(G$66$! J#$! 8:! <:! W(**A%#U52#(%&! >$S6$V#(%&! Z5%G6A%B7(,#$%2#$,A%B!

S#%G$%! 7#94! 567! U(%72#2A2#)$! @6$*$%2$! G$,! I$G#$%U(*X$2$%8! J#$G$,:! ;A94! 5AG#()#7A$66$! I$G#$%!J$,G$%!567!J#,U6#94U$#27U(%72#2A#$,$%G!J54,B$%(**$%:!T57!$,794$#%2!*#,!J#942#B&!J$#6!$7!+$#!*$#%$,!

<$794YS2#BA%B! *#2! M#6*! #*! T$A2794A%2$,,#942! G5,A*! B$4$%! J#,G&! J#$! *5%! 8A7Y286#94! 8A,!

)$,+567X,5946#94$%! @+$%$! G#$! )#7A$66$%! A%G! 5UA72#794$%! <5A72$#%$! 567! B,A%G6$B$%G$! @6$*$%2$!

$#%+,#%B$%!A%G!)$,*#22$6%!U5%%:!!

I$G#$%!7(66$%!%#942!%A,!I#22$6&!7(%G$,%!5A94!\$B$%725%G!A%G!=4$*5!G$7!h%2$,,#9427!7$#%:!T57!452!

W(%7$kA$%8$%! Sa,! G$%! T$A2794A%2$,,#942:! T$,! N#2$,52A,)$,S#6*A%B&! G#$! *5%! B$J#77$,*5f$%! 567!

$%27X5%%$%G$!<$6(4%A%B!%594!G$,!N$U2a,$!8$#B2&!J#,G!4#$,!$#%$!U65,$!!;+75B$!$,2$#62:![#$6*$4,!*A77!

$7!A*!$#%$!7X$8#S#794$!;A7$#%5%G$,7$28A%B!*#2!G$*!S#6*#794$%!I$G#A*!B$4$%d!A*!3%4562!A%G!M(,*&!

7X$8#S#794$!\$72562A%B7*#22$6!G$7!M#6*7&!#%2$,%$!A%G!$V2$,%$!M5U2(,$%:!!

T#$! #*! 3=`@,6577! $#%B$Sa4,2$!h%2$,794$#GA%B!8J#794$%![$,*#226A%B!A%G! e#$64(,#8(%2! 6$B2!%54$&!G577!

2$94%#794$!MY4#BU$#2$%!A%G!W,#2#USY4#BU$#2!567!)(,,5%B#B!$,5942$2!J$,G$%:!Z5%G6A%B7(,#$%2#$,A%B!A%G!

MY4#BU$#2$%! 8A,! 5U2#)$%! =$#645+$! 7#%G! 8J5,! 5%8A72,$+$%&! 5+$,! %#942! )$,+#%G6#94! 8A! )$,*#22$6%:! T$,!

@,6577!2,#SS2!4#$,!J#G$,7X,a946#94$!;A775B$%:!T#$!@%BSa4,A%B!G$7!<$B,#SS7!5AS! 2$94%#794$!MY4#BU$#2$%!

J#,G! 5A94! GA,94! G#$! )$,J$%G$2$%! <$#7X#$6$! )$,G$A26#942:! T$,! <$B,#SS! I$G#$%U(*X$2$%8! J#,G!

5A77946#$f6#94! #*! eA75**$%45%B! *#2! ?(*XA2$,&! IA62#*$G#5! A%G! 3%2$,%$2! A%G! 5Af$,G$*! *#2! G$,!

;A7J546! )(%! 3%S(,*52#(%7`! A%G! "#77$%7$%2%54*$! )$,J$%G$2:! M#6*U(*X$2$%8! U(**2! #%! G#$7$,!

3%2$,X,$252#(%! G$7!I$G#$%U(*X$2$%8+$B,#SS7! %#942! )(,:! Z5%G6A%B7(,#$%2#$,A%B! J#,G! 2$%G$%8#$66! 567!

J$%#B$,!J#942#B!$,5942$2:!

T$,! 5U2A$66$! E72$,,$#94#794$!F+$,72AS$%`N$4,X65%! Sa,!T$A2794! 5A7! G$*! H54,! -..C!+$#%4562$2! B$%5A!G#$!@6$*$%2$&!G#$!#%!G$,!J#77$%7945S26#94$%!N#2$,52A,!567!J#942#B!$,5942$2!J$,G$%:!3%7B$75*2!J#,G!#*!

1$#2$!39!

N$4,X65%! )(%! $#%$*! $,J$#2$,2$%! =$V2+$B,#SS! 5A7B$B5%B$%:! @7! B$42! A*! Y724$2#794$! =$V2$&! 567(! A*!

N#2$,52A,&! M#6*&! $29:! M#6*! J#,G! X5,566$6! 8A,! J#77$%7945S26#94$%! T#7UA77#(%! 567! =$V2! +$B,#SS$%&! G$,!

$%27946a77$62!J$,G$%!*A77&!J$#6!$,!"#,U6#94U$#2$%!*$G#56!)$,*#22$62:!r4%6#94!)$,4Y62!$7!7#94!*#2!G$*!

<$B,#SS! 9")'"-:! @,! J#,G! #%! 7$#%$,! [#$6S562! 5+B$+#6G$2:! @#%$,7$#27! 7#%G! G#$! $6$U2,(%#794$%! \$,Y2$!

B$*$#%2! i?(*XA2$,&:::j&! 5%G$,$,7$#27! u+$,*#226A%B7S(,*$%! )(%! 3%S(,*52#(%$%! J#$! 1X,594$! A%G!

N#2$,52A,:!!

eA75**$%S577$%G! U5%%! *5%! S$7272$66$%&! G577! G$,! <$,$#94! M#6*! @#%B5%B! #%! G$%! 5U2A$66$%!

F+$,72AS$%6$4,X65%!Sa,!T$A2794!B$SA%G$%!452:!T#$7$,!7X#$B$62!G#$!%$A$%!;ASB5+$%!J#G$,&!G#$!A%7$,$!

*$G#56#7#$,2$!"$62!5%!G#$!HAB$%G6#94$%!4$,5%2,YB2:!T$,!N$4,X65%!$%27X,#942!G$*!5U2A$66$%!125%G!G$,!

"#77$%7945S2:! T$,! $,J$#2$,2$! =$V2+$B,#SS! 452! B$%5A7(! @#%B5%B! B$SA%G$%! J#$! *A62#X$,7X$U2#)#794$!

W(**A%#U52#(%724$(,#$%:! T$,! <$,$#94! F'%"*6*'+45"& !'()3-$! J#,G! 5AS! M#6*$! 5A7B$G$4%2&! J(+$#! G$%!

h%2$,794#$G$%! 6#2$,5,#794$,! A%G! S#6*#794$,! @,8Y46J$#7$%! $+$%S5667! >$94%A%B! B$2,5B$%! J#,G:! ;66$!

J$7$%26#94$%! I(*$%2$&! G#$! Sa,! G#$! G$%! h*B5%B! *#2! M#6*! 567! J#942#B! $,5942$2! J$,G$%! J#$!

>$8$X2#(%7(,#$%2#$,A%B&! Z5%G6A%B7(,#$%2#$,A%B! A%G! >$S6$V#(%7SY4#BU$#2! 7#%G! B6$#94$,*5f$%!

+$,a9U7#942#B2:!

WY*X$,!)5%!G$%!<((B55,2!*$,U2!Sa,!G#$!G$A2794$%!N$4,X6Y%$!U,#2#794!5%&!G577!$7!6$#942!#72&!G$*!M594!

T$A2794!%$A$!;ASB5+$%+$,$#94$!J#$!G#$!<$45%G6A%B!5AG#()#7A$66$,!=$V2$!8A8AJ$#7$%:!D,(+6$*52#794!

#72! G57&! J$#6! G5GA,94! G#$! N$4,X6Y%$! #**$,! A*S577$%G$,! J$,G$%! A%G! G#$! h*7$28+5,U$#2! G5GA,94!A%,$56#72#794$,:! i[B6:! WY*X$,! )5%!G$%! <((B55,2&! -.//&! 1:! -Cj! ;A94!G$,! E72$,,$#94#794$! N$4,X65%! #72!

7$4,! A*S577$%G:! ;%G$,$! 794A6X(6#2#794$! D,(+6$*S$6G$,! +$$#%S6A77$%! G#$! 794A6#794$! h*7$28A%B!

*$G#$%XYG5B(B#794$,! 3%4562$:! @+$%S5667! G$,! I$G#$%XYG5B(B$! Z(,72! T#945%8! 72$662! S$72&! G577! $7!

72,AU2A,$66$! T$S#8#2$! #*! G$A2794$%! 194A67c72$*! B#+2&! G#$! ]%#942! GA,94! N$4,X6Y%$! A%G! @,6Y77$! 8A!

+$4$+$%! 7#%G_:! iT#945%8&! -..-&! 1:Lj! T#$7$! <$(+5942A%B$%! 794$#%$%! 5A94! Sa,! G57! E72$,,$#94#794$!

194A67c72$*!8A2,$SS$%G!8A!7$#%:!

\6$#948$#2#B! J#,G! G#$! B$,#%B$!"#,U75*U$#2! G$,! N$4,X6Y%$! #**$,! J#$G$,! 24$*52#7#$,2:! i[B6:! WY*X$,!

)5%! G$%! <((B55,2&! ! -.//&! 1:--j! N$4,$,3%%$%! U$%%$%! A%G! %A28$%! N$4,X6Y%$! U5A*! 8A,!

h%2$,,#9427X65%A%B:! ;67! 5"'=('45"& F"5*,(O-"! B$62$%! G#$! 194A6+a94$,&! G#$! 5+B$72#**2! 5AS! G$%!

S5946#94$%!N$4,X65%!7$#2$%7!G$,!<$4E,G$!B$X,aS2!J$,G$%:!I#2!G$%!5XX,(+#$,2$%!194A6+a94$,%!J#,G!#%!

G$,!h%2$,,#9427X,5V#7!25B2YB6#94!B$5,+$#2$2:!;A94!#%!G$,!h%2$,,#9427)(,+$,$#2A%B!#72!G57!194A6+A94!$#%!

8$%2,56$7!;,+$#27*#22$6:!"$#6!G#$!h*7$28A%B!G$,!N$4,X65%)(,B5+$%!#%!G$%!N$4,J$,U$%!Sa,!G#$!2YB6#94$!

h%2$,,#9427X,5V#7! $%2794$#G$%G! #72&! J$,G$! #94! #*! %Y9472$%! W5X#2$6! 8J$#! T$A2794`N$4,+a94$,! G$,! R:!

194A672AS$!5AS!#4,$!S#6*#794$%!3%4562$!A%2$,7A94$%:!

1$#2$!40!

] *+,($Gd+,'.!

3%! G#$7$*! W5X#2$6! J$,G$! #94! *#94! G$,! h*7$28A%B! G$,! 794A6X(6#2#794$%! [(,B5+$%! #%! G$,!

h%2$,,#9427X,5V#7! J#G*$%:! T58A! B,$#S$! #94! 8J$#! 5U2A$66$! T$A2794`194A6+a94$,! G$,! R:! 194A672AS$!

4$,5A7&!A*!4$,5A78AS#%G$%&! #%!J$694$,!M(,*!M#6*+#6GA%B! 3%4562!A%G!=4$*5!G$7!T$A2794A%2$,,#9427!

#72:!394!45+$!G#$!194A6+a94$,!U65,!`!T$A2794!Q!iZ#6B$,!O!W#$%$,&!-./.5j!A%G!1X,594,YA*$!/!i125,B$6!O!

194YS$,&!-./-j!5A7B$JY462:!W65,!T$A2794!Q!#72!G57!N$4,+A94&!G57!#%!566$%!W6577$%!G$,!R:!194A672AS$!G$7!

\($24$Bc*%57#A*7! #*! T$A2794A%2$,,#942! )$,J$%G$2! J#,G:! eA*! [$,B6$#94! 8#$4$! #94! G57! N$4,+A94!

1X,594,YA*$!/!4$,5%:!@7! #72!-./-!$,72*567!$,794#$%$%!A%G!8#$62!5AS!G#$!@,,$#94A%B!)(%!MY4#BU$#2$%!

5+:! I$#%! 3%2$,$77$! #72! $7! 4$,5A78AS#%G$%&! (+&! #%! J$694$%! eA75**$%4Y%B$%! A%G! J#$!

I$G#$%U(*X$2$%8!+8J:!M#6*U(*X$2$%8!#%!G$%!194A6+a94$,%!)(,U(**2:!!

]IQ @>/8!<!&9543:;!\!

T57!194A6+A94!+$72$42!5A7!5942!W5X#2$6%:!@#%!W5X#2$6!G5)(%!4$#f2!P1=&Q=$6-$&='%&9")'"-&>&9")'"-&

6(+& ?1==3-';6%'1-+='%%"(:! 3%! $#%$*! $,72$%! =$#6! J$,G$%! <$B,#SS$! J#$! I$G#$%&! I577$%*$G#$%! A%G!

W(**A%#U52#(%!+$5,+$#2$2:! 3%! B,5S#794$,! M(,*!J$,G$%!I$G#$%!%594!G$,!;,2! G$,!"54,%$4*A%B! #%!

)#7A$66$&!5AG#()#7A$66$!A%G!5AG#2#)$!A%G!%594!G$,!;,2!G$,!u+$,*#226A%B!A%2$,794#$G$%:!!

;%7946#$f$%G!J$,G$%!$#%!X55,!I577$%*$G#$%!24$*52#7#$,2d!D,#%2*$G#$%&!M$,%7$4$%&!>5G#(!A%G!M#6*:!

e$#2A%B$%&! #4,$! >$77(,27! A%G! G#$! g(A,%56#72#794$%! =$V27(,2$%! J$,G$%! 5A7Sa4,6#94! +$45%G$62:!

;,+$#275AS2,YB$!+$8#$4$%!7#94!+$#!G$%!D,#%2*$G#$%!5AS!>$94$,94$`!A%G!194,$#+5ASB5+$%!A%G!8:!<:!5AS!

e$#2A%B7)$,B6$#94$! #%!@#%8$6`!A%G!\,AXX$%5,+$#2:! 3*!h%2$,U5X#2$6!R"*A3-$!J#,G!A%2$,!5%G$,$*!$#%!"$,+$X65U52! 5AS! 7$#%$! +#6G6#94$%! A%G! 7X,5946#94$%! I#22$6! +$S,5B2:! "$,+$72,52$B#$%! 7(66$%!

GA,947945A2! J$,G$%:! T#$! ;,+$#275ASB5+$%! 8#$6$%! 5AS! >$94$,94$&! U,#2#794$! I$#%A%B7+#6GA%B! A%G!

;%56c7$! 5+:! T#$! 1X,594$! #%! e$#2A%B! A%G! "$,+A%B! J#,G! $+$%S5667! 24$*52#7#$,2:! T$*! >5G#(! #72! $#%!

U6$#%$7!W5X#2$6!B$J#G*$2:!!

3*!W5X#2$6!:*/O5("-&='%&)"*&?6="*6&>&."*-+"5"-&3-)&.'(=! B$42!$7!8A%Y9472!A*!G#$!ESS$%26#94$%!A%G!

X,#)52$%!M$,%7$47$%G$,! #%!^72$,,$#94:!;67!@,E,2$,A%B724$*5!J#,G! $#%$!>$56#2c`14(J!4$,5%B$8(B$%:!

T#$!;,+$#275AS2,YB$!G#$7$7!;+794%#227!+$#%4562$%!>$94$,94$5ASB5+$%:!eA,!=$V27(,2$!@,E,2$,A%B!J#,G!

$#%!qA$,)$,J$#7!5%B$SaB2:!

T57! W5X#2$6! .'(=! +$B#%%2! *#2! $#%$,! @,U6Y,A%B! G$7! 5AG#()#7A$66$%! W(**A%#U52#(%7X,(8$77$7! *#22$67!

M#6*:!@#%! 6#%$5,$7!W(**A%#U52#(%7*(G$66&!G57!G$%!M#6*!567!W(**A%#U52#(%7*#22$6!)(*!1$%G$,!8A*!

@*XSY%B$,!5ASS5772&!#72!+$794,#$+$%!A%G!B,5S#794!G5,B$72$662:!i[B6:!Z#6B$,!O!W#$%$,&!-./.5&!1:!/C/j!!

T$,! %Y9472$! 194,#22! J#G*$2! 7#94! G$,! M#6*5%56c7$:! M#6*!J#,G! %#942! 567! =$V2! )$,725%G$%&! 7(%G$,%!*#2!

794,#S26#94$%!=$V2$%!U(%2,572#$,2:!@7!J#,G!+$2(%2&!G577!*5%!M#6*!J#$! $#%$%!=$V2!5AS! 3%4562&!;A775B$!

A%G!M(,*!5%56c7#$,$%!UE%%$:!!

T58A!J$,G$%!#%!8J$#!I$,UUY72$%!M594+$B,#SS$!+$,$#2B$72$662:!@7!45%G$62!7#94!A*!$#%$!I#794A%B!5A7!

M#6*+$B,#SS$%!i8:!<:!1$kA$%8j&!794,#S26#94$%!S#6*#794$%!=$V27(,2$%!i8:!<:!T,$4+A94j!A%G!M#6*+$,AS$%!i8:!

<:! W5*$,5S,5Ab`*5%%j:! u+$,B5%B76(7! A%G! (4%$! u+$,794,#S2! J$,G$%! #*! ;%7946A77! G5,5%! 5AS!

$#%$#%456+! ;C`1$#2$%! 7$947! @#%72$66A%B7B,Ef$%! A%G! )#$,! W5*$,5X$,7X$U2#)$%! 5+B$+#6G$2! A%G!

+$%5%%2:!"$#2$,$! !M594+$B,#SS$!8A!G$%!*EB6#94$%!W5*$,5+$J$BA%B$%!i8:!<:!e((*j!J$,G$%!$,U6Y,2:!

Z#$,!B#+2!$7!qA$,)$,J$#7$!8A!5%G$,$%!W5X#2$6%&!#%!G$%$%!$7!A*!G#$!h%2$,7A94A%B!$X#794$,!=$V2$!A%G!G#$! X$,7(%56$! @,8Y464562A%B! B$42:! W5*$,5$#%72$66A%B&! W5*$,5Sa4,A%B! A%G! 194%#22! J$,G$%! %$+$%!

G$*! Ua%726$,#794$%! W(%8$X2! A%G! G$,! M#BA,$%Sa4,A%B! 567! J#942#B$! ;A7G,A9U7*#22$6! G$7! M#6*7!

5%B$Sa4,2:!!

;%7946#$f$%G! 794J$%U2! G57! <A94! 8A! $#%$*! 6#2$,5,#794$%! =$V2! )(%! N$(%! G$! "#%2$,&! J$694$,!

194,#S272$66$,!A%G!M#6*7945SS$%G$,! #72:!@7!45%G$62!7#94!A*!$#%$%!W,#*#&!G$,! 6#2$,5,#794$!A%G!S#6*#794$!

@6$*$%2$! )$,$#%2:! @,! 6#$72! 7#94! J#$! $#%! T,$4+A94&! J$#6! Z5%G6A%B! A%G! >$B#$5%J$#7A%B$%!

B6$#94$,*5f$%! )(,U(**$%:! e546,$#94$! S#6*#794$! M5945A7G,a9U$! i8:! <:! 74(2&! 194%#22`\$B$%794%#22&!

1$#2$!41!

;++6$%G$&! '545AS%54*$j! 7#%G! $#%! J#942#B$7! \$72562A%B7*(*$%2! G$7! 6#2$,5,#794$%! =$V2$7:! 3*!

;%7946A77!5%!G#$!N$U2a,$!7(66!G$,!=$V2!5%56c7#$,2!J$,G$%:!T#$!h%2$,794#$G$!8A!5%G$,$%!@,8Y462$V2$%!

7(66$%!4$,5A7B$5,+$#2$2!J$,G$%!A%G!G#$!194a6$,3%%$%!7(66$%!4$,5A7S#%G$%&!J$694$!M(6B$%!G#$7$!;,2!

G$,! T5,72$66A%B! Sa,! G#$! D45%257#$! G$7! N$7$,7! 45+$:! T57! <$B6$#24$S2! Sa,! N$4,$,3%%$%! 6$B2! $#%$!

NE7A%B7*EB6#94U$#2!G#$7$,!;ASB5+$!%54$d!

eA!+$*$,U$%!#72!5A94!G#$!=527594$&!G577!`!J#$!+$#!$#%$*!M#6*!`!\$794$4$%!A%G!D,(25B(%#72$%!

7(! G$25#66#$,2! G5,B$+(2$%! J$,G$%&! G577! Sa,! G#$! D45%257#$! G$7! N$7$,7! U$#%! 1X#$6,5A*! *$4,!

+6$#+2:!iZ#6B$,!O!W#$%$,&!-./.+&!1:!0Pj!

3%! 25+$665,#794$,! M(,*! J$,G$%! 6#2$,5,#794$! A%G! S#6*#794$! T5,72$66A%B7*EB6#94U$#2$%! )$,B6#94$%:! 3*!

5+7946#$f$%G! )(,B$79465B$%$%! D,(g$U2! 7(66! $#%! M#6*! *#2! 7$#%$,! $,8Y46$,#794$%! [(,65B$! )$,B6#94$%!

J$,G$%&! G#$! 566$,G#%B7! 794(%! #*! Z#%+6#9U! 5AS! G#$![$,S#6*A%B! B$794,#$+$%!JA,G$:!T57! W5X#2$6! $%G$2!

*#2! $#%$*! 8A75**$%S577$%G$%! =$V2&! #%! G$*! G#$! r4%6#94U$#2! G$,! @,8Y467X,594$%! )(%! M#6*! A%G!

T#942A%B!+$2(%2!J$,G$%:!iZ#6B$,!O!W#$%$,&!-./.+&!1:!/LQj!

]IS *D8/:;8F5U9!Q!

T57! 3%45627)$,8$#94%#7! Sa4,2! #%! g$G$*!W5X#2$6!G$%!W(*X$2$%8+$,$#94!5%:!T#$!-/! W5X#2$6!G$7!<A94$7!

7#%G! #%! /C! B,Ef$,$! W5X#2$6&! G#$! 1X,594,YA*$&! A%G! #%! U6$#%$,$! J#'+45"-)3*45`W5X#2$6&! G#$!

eJ#794$%,YA*$&! $#%B$2$#62! i[B6:! 125%B$6! O! 194YS$,&! -./.&! 1:! -j:! ;66$! 7$947! W(*X$2$%8+$,$#94$! G$7!

N$4,X65%7! i1X,594+$2,5942A%B&! Ia%G6#94$! W(*X$2$%8&! N$7$U(*X$2$%8&! N#2$,5,#794$! <#6GA%B&!

194,#S26#94$! W(*X$2$%8&! N$7$U(*X$2$%8j! J$,G$%! 5+B$G$9U2:! eA! g$G$*! 1X,594`! A%G! eJ#794$%,5A*!

J$,G$%! +$,$#27! #*! 3%45627)$,8$#94%#7! G#$! W(*X$2$%8$%! 5%B$Sa4,2&! G#$! #%! G$*! W5X#2$6! $,J(,+$%!

J$,G$%!7(66$%:![#$,!G#$7$,!W5X#2$6!%$%%$%!I$G#$%U(*X$2$%8!567!$#%$%!194J$,XA%U2:!eJ$#*56!J#,G!

8A7Y286#94!%(94!N$7$U(*X$2$%8!)$,*#22$62:!

3*!W5X#2$6!:<<'/'"-%"*&F"+"-&!G57!7#94!$VX6#8#2!*#2!N$7$U(*X$2$%8!A%G!I$G#$%U(*X$2$%8!+$S5772&!B$42!

$7! #%45626#94! A*! N$7$2$94%#U$%&! %Y*6#94! A*! G57! %5)#B#$,$%G$! N$7$%! 8A,! =$V2$,S577A%B! )(%!

3%2$,%$27$#2$%:! T#$! 194a6$,3%%$%! 7(66$%! 7#94! *EB6#9472! 794%$66! 5%45%G! G$,! 194,#S2$%! (,#$%2#$,$%!

UE%%$%:!

3*! eJ#794$%,5A*& ."*-+"5"-! 7(66$%! G#$! 194a6$,3%%$%! #4,$! $#B$%$%! M$,%7$4B$J(4%4$#2$%! U,#2#794!4#%2$,S,5B$%:!T#$!=4$*$%!?572#%B`14(J7!A%G!\$J562!J$,G$%!8A,!T#7UA77#(%! B$72$662! A%G!7(66$%!8A,!

I$#%A%B7+#6GA%B! Sa4,$%:! @#%$! ?572#%B`14(J! 7(66! G#7UA2#$,2! J$,G$%! A%G! 8A,! h*S,5B$! 5%,$B$%:! T#$!

;,+$#275AS2,YB$!G58A! S(UA77#$,$%! 5AS! G#$! <$S,5BA%B! )(%!I#2794a6$,3%%$%!A%G!G#$! D,Y7$%252#(%! G$,!

@,B$+%#77$! #%! +#6G45S2$,! M(,*:! T#$! ;%8546! G$,! #%! M$,%7$4S#6*$%! )(,U(**$%G$%! I(,G$! A%G!

\$J562252$%! 7(66$%! )(%! G$%! HAB$%G6#94$%! B$794Y282! J$,G$%:! eA,! I$#%A%B7+#6GA%B! J$,G$%! G#$!

@,B$+%#77$!G5%%!*#2!A%2$,794#$G6#94$%!;ASS577A%B$%! 8A,!;A7J#,UA%B$%!)(%!\$J562G5,72$66A%B$%! #%!

G$,!>$56#2Y2!U(%2,572#$,2:!Z#$,!J#,G!(SS$%7#9426#94!5AS!$#%$!@,E,2$,A%B!4#%B$5,+$#2$2:!

@#%! J$#2$,$,! 1X,594,5A*! 452! 794J$,XA%U2*Yf#B! N$7$U(*X$2$%8! A%G! I$G#$%U(*X$2$%8! #*! ;AB$:!

T57! W5X#2$6! J"'%3-$& ("+"-! +$45%G$62! D,#%2*$G#$%! A%G! g(A,%56#72#794$! =$V27(,2$%:! T#$! D,Y7$%8! G$,!

D,#%2*$G#$%!#%!G$%!G#B#256$%!I$G#$%!J#,G!5%B$7X,(94$%:!!

?4522$%! `! 7#*7$%! `!M59$+((U!7#%G!=4$*$%!G$7!1X,594,5A*7!H,*645"&5"3%":!T#$! %$A$%!M(,*$%!G$,!

W(**A%#U52#(%! J$,G$%! #*! Z#%+6#9U! 5AS! G#$! %$A5,2#B$! 1X,594)$,J$%GA%B! 8:! <:! "(,2)$,Ua,8A%B$%!

A%2$,7A942:!;%56c7$&!T#7UA77#(%!A%G!I$#%A%B7+#6GA%B!J#,G!*#2!G$,!1X,594$%2J#9U6A%B!#%!G$%!'$A$%!

I$G#$%!)$,+A%G$%:!

]IX *:;>5336L>A9852A92!!

I$G#$%U(*X$2$%8! 452! #*! 194A6+A94! 1X,594,YA*$! /! kA5%2#252#)! $#%$%! B$,#%B$%! 12$66$%J$,2:!

3%45626#94! J#,G! 7#$! $%2J$G$,! 5AS! G57! M$,%7$4$%! (G$,! G57! N$7$%! #*! 3%2$,%$2! +$8(B$%:! 3*!

M$,%7$4U5X#2$6! B$42! $7! %#942! A*! S#6*#794$! ;7X$U2$:! T57! Z5AX25AB$%*$,U! B#62! G5+$#! G$,!

1$#2$!42!

W,#2#USY4#BU$#2:! T#$! N$7$S$,2#BU$#2! J#,G! 5%45%G! $#%$,! 3%2$,%$27$#2$! +$7X,(94$%:! I$G#$%U(*X$2$%8!

+$8#$42! 7#94! 4#$,! 5AS! G57! eA,$942S#%G$%! #%! G$,! 794,#S26#94$%! 3%S(,*52#(%! G$,! '$A$%! I$G#$%:! T#$!

(X2#794$!T(*#%5%8!G$,!<#6G$,! #72!5A7B$+6$%G$2:!@7!B$42!5%!U$#%$,!12$66$!G$7!N$4,J$,U7!A*!+$J$B2$!

<#6G$,:!M#6*U(*X$2$%8!U(**2!#*!T$A2794`194A6+A94!]1X,594,YA*$!/_!%#942!)(,:!T#$!MY4#BU$#2!<#6G$,!

8A!)$,72$4$%&!8A!$%27946a77$6%&!8A!,$S6$U2#$,$%!A%G!7$6+$,!4$,8A72$66$%!J#,G!#%!G#$7$*!N$4,+A94!%#942!

5+B$G$9U2:!I$G#$%U(*X$2$%8!J#,G!5AS!794%$66$!"#77$%7$%2%54*$!A%G!W,#2#USY4#BU$#2!$#%B$794,Y%U2:!

T57!194A6+A94!G$,!R:!194A672AS$!U65,!`!T$A2794!Q!+$45%G$62!M#6*!#*!I$G#$%U5X#2$6:!@7!+$8#$42!7#94!5AS!

G57!M#6*B$%,$!=4,#66$,:!F+J(46!G$,!M#6*!#%!7$#%$,!W(**A%#U52#(%7SA%U2#(%!*$#%$,!;%7#942!%594!#%!$#%!

X577$%G$7!h*S$6G!B$72$662!J#,G&!)$,J$%G$2!G57!<A94!$#%!)$,562$2$7!6#%$5,$7!W(**A%#U52#(%7*(G$66:!

3%! G$,! "#77$%7945S2! B$42! $7! 5%B$7#9427! G$7! *$G#56$%! D5,5G#B*$%J$947$67! *#226$,J$#6$! A*!

*A62#X$,7X$U2#)#794$!W(**A%#U52#(%7*(G$66$:!

T$,!?*'='<'(=;*'='! )(%!N$(%!G$!"#%2$,! #72! $#%! #%2$,$775%2$,!;%7528XA%U2&!J$#6!$,!5%!G#$! 6#2$,5,#794$!

\522A%B! G$,! @X#U! 5%U%aXS2:! \6$#948$#2#B!J$,G$%! M#6*$! #*! [$,B6$#94! 8A! 6#2$,5,#794$%! =$V2$%! #*X6#8#2!

A%G!$VX6#8#2!5+B$J$,2$2:!34%$%!J#,G!A%2$,72$662&!G577!7#$!U$#%$%!>5A*!Sa,!G#$!M5%257#$!6#$f$%:!T577!$7!

5%G$,$! ;,2$%! )(%! N$$,72$66$%! B#+2&! U(**2! %#942! )(,:! T#$! I$4,G$A2#BU$#2! )(%! I$G#$%2$V2$%! J#,G!

#B%(,#$,2:!!

T#$! 794A6X(6#2#794$%! [(,B5+$%! A%G! G#$! u+$,7$28A%B! #%! G#$! Sa,! N$4,U,YS2$! X,5V#7,$6$)5%2$%!

194A6+a94$,! G$,! R:! 194A672AS$! U65SS$%! J$#2! 5A7$#%5%G$,:! Ma,! *$#%! h%2$,,#9427)(,45+$%! J$,G$! #94!%#942! 5AS! G57! 194A6+A94! U65,! `! T$A2794! =$V2! Q! G$,! R:! 194A672AS$! 8A,a9UB,$#S$%:! T57! 5AG#()#7A$66$!

I$G#A*!J#,G!4#$,!#*![$,B6$#94!8A!794,#S26#94$%!6#2$,5,#794$%!=$V2$%!5+B$J$,2$2:!

1$#2$!43!

e *+,$(**!(-&!C(*G$#+`!

I$#%$! 1946a77$! 5A7! G#$7$,! ;,+$#2! 8#$4$! #94! #%! Z#%+6#9U! 5AS! *$#%$! +$)(,72$4$%G$! X,5U2#794$!

h%2$,,#94275,+$#2! 8A*! M#6*:! @#%$,7$#27!*E942$! #94! $#%! h%2$,,#9427)(,45+$%! $%2J#9U$6%&! G57! Sa,! G#$!

U(%U,$2$%! (,B5%#752(,#794$%! >54*$%+$G#%BA%B$%! #%! *$#%$,! 194A6$! 56625B725AB6#94! #72&! 5%G$,7$#27!

5+$,! G$*! M#6*! 567! U(*X6$V$*! #%2$,G#78#X6#%Y,$%! \$+#6G$! B$,$942! J#,G:! I$#%! e#$6! #72! $7! G5+$#&! 5AS!

8$%2,56$%!@,U$%%2%#77$%!5A7!G$%!M#6*`&!I$G#$%`!A%G!<#6GJ#77$%7945S2$%!5AS8A+5A$%:!!

HAB$%G6#94$!#%2$,$77#$,$%!7#94!Sa,!M#6*&!$,J$,+$%!794A6#794!5+$,!U5A*!S#6*#794$!W(*X$2$%8$%:!T5!G#$!

794A6X(6#2#794$%! [(,B5+$%! $#%$! <$794YS2#BA%B! *#2! M#6*! #%! 566$%! h%2$,,#9427B$B$%72Y%G$%! S(,G$,%&!

B#+2!$7!Z5%G6A%B7+$G5,S:!@7!B#+2!$#%$!>$#4$!J#77$%7945S26#94$,!@,U$%%2%#77$&!5AS!G#$!#94!BA2!5AS+5A$%!

U5%%:!1(!7(66! #*!h%2$,,#942!M#6*!567!$#B$%72Y%G#B$7!A%G!5Af$,7X,5946#94$7!e$#94$%7c72$*!)$,*#22$62!

A%G! B$8#$62! +$#! G$,! 5AG#()#7A$66$%! W(*X$2$%8! 5%B$7$282! J$,G$%:! e$%2,56! #72! G57! [$,72$4$%! G$,![#$6794#942#BU$#2! S#6*#794$,! <#6G$,:! @#%! Z5AX25AB$%*$,U! B#62! G$,! +#6G6#94$%! 1ABB$72#(%:! T58A! #72! G#$!

194A6A%B!G$,!+5756$%!MY4#BU$#2!G$7!1$4$%7!$,S(,G$,6#94:!T#$!@#B$%5,2!G$7!S#6*#794$%!e$#94$%7c72$*7!

6Y772! 7#94! $V$*X65,#794!5%45%G!G$,!I(%25B$!+$45%G$6%:!TA,94! S#6*#794$!Z5%G6A%B7(,#$%2#$,A%B!567!

\,A%G$6$*$%2! G$7! T$A2794A%2$,,#9427! 8A*! M#6*! UE%%$%! J$7$%26#94$! *A62#*$G#56$!

\$72562A%B7U(*X$2$%8$%!$,J(,+$%!J$,G$%:!h*!G$*!S#6*#794$%!I$G#A*!B$,$942!8A!J$,G$%&! #72!G#$!

#%2$,G#78#X6#%Y,$!@,J$#2$,A%B!G$7!T$A2794A%2$,,#9427!5%B$8$#B2:!

I$#%! h%2$,,#9427)(,45+$%! U5%%! +$#! M#6*$%! *#2! h%2$,4562A%B7J$,2! 5%7$28$%! A%G! 4#$,! G$%!

D,(+6$*+$,$#94! M#U2#(%! A%G! "#,U6#94U$#2! 5G,$77#$,$%:! "$#2$,7! 794$#%2! *#,! G#$! <$794YS2#BA%B! *#2!

$#%8$6%$%! M#6*7$kA$%8$%! 7#%%)(66:! T57! 1$4$%! UA,8$,! ;A7794%#22$! 6Y772! 7#94! 8$#26#94! BA2! #%! G$%!

h%2$,,#942! $#%SaB$%:! TA,94! G#$! @#%$%BA%B! 5AS! #%45626#94! Y4%6#94$! 1$kA$%8$%&! U5%%! B$8#$62! 5AS! G#$!

<$7(%G$,4$#2$%!A%G!IEB6#94U$#2$%! G$,! S#6*#794$%! '5,,52#(%! $#%B$B5%B$%!J$,G$%:! 1$4$%! U5%%! BA2!

B$6$,%2!J$,G$%&!J$%%!G#$!M#6*5A7794%#22$!5A94!$#%$!;A7J546!5A7!)$,794#$G$%$%!S#6*#794$%!@X(94$%!

8$#B$%&!J$#6! ! G5,5%! )$,G$A26#942!J$,G$%! U5%%&!J#$! G#$! 5AG#()#7A$66$! W(**A%#U52#(%! #%%$,456+! G$7!

S#6*#794$%! \$%,$7! SA%U2#(%#$,2:! <$#! G$,! \$72562A%B! $#B$%$,! UA,8$,! M#6*7$kA$%8$%! J#,G! G#$!

"54,%$4*A%B! B$794Y,S2:! HAB$%G6#94$! $,S54,$%&! J$694$! ,$56$%! D,(GAU2#(%7+$G#%BA%B$%! +$#! G$,!

@%272$4A%B!)(%!M#6*$%!)(,4$,,794$%!A%G!J$694$!M#U2#(%!GA,94!5%7946#$f$%G$!<$5,+$#2A%B7)5,#5%2$%!

J#$! I(%25B$! A%G! [$,2(%A%B! )$,*#22$62! J$,G$%! U5%%:! TA,94! @VX$,#*$%2$! *#2! 7$6+72B$G,$42$*!

M#6**52$,#56! U5%%! *#2! I$4,G$A2#BU$#2! B$7X#$62! J$,G$%:! 1946#$f6#94! UE%%$%! HAB$%G6#94$! GA,94! G#$!

194A6A%B! G$7! 1$4$%7! S#6*#794$! W(*X$2$%8$%! $%2J#9U$6%&! G#$! 7#$! 8A! SY4#B$%&! U,#2#794$%!I$G#$%%A28$,3%%$%! *5942! A%G! #4,$! 5U2#)$%! Z5%G6A%B77X#$6,YA*$! *#2! 5AG#()#7A$66$%! I$G#$%!

$,J$#2$,2:!!

!

!

!

1$#2$!44!

f $#)'.C)(.!

;<>;Z;I&!h6S!i-..Rj:!M#6*$!#*!T$A2794A%2$,,#942:!>$#4$!D,5V#7!T$A2794:!1$$68$d!W6$22bW566*5c$,:!

;<>;Z;I&!h6S!iZ,7B:j!i-./0jd!WA,87X#$6S#6*$:!D,5V#7!T$A2794:!C.:!H54,B5%B!iZ$S2!-0Lj:!

;N<@>1I@3@>&!M,5%8`H(7$S!i-..0j:!@#%6$#2A%B:!M#6*24$(,#$%!#*!4#72(,#794$%!"5%G$6:!3%d!M,5%8`H(7$S!

;6+$,7*$#$,!iZ,7B:j&!=$V2$!8A,!=4$(,#$!G$7!M#6*7:!Q:!;AS6:!i1:0!`-Rj:!12A22B5,2d!D4#6#XX!>$965*!gA%:!

<;;?W@&!T#$2$,!i/RL0j:!W(**A%#U52#(%!A%G!W(*X$2$%8:!\,A%G6$BA%B!$#%$,!T#G5U2#U!G$,!

W(**A%#U52#(%!A%G!#4,$,!I$G#$%:!Ia%94$%d!HA)$%25:!

<;>=Z&!1A75%%$!i/RRRj:!I$G#$%!#*!T$A2794A%2$,,#942:!D,5V#7!T$A2794&!H54,B5%B!/RRR!iZ$S2!/Q0j&!1:!

//!`!/R:!!

<IhWW!`!^72$,,$#94#794$7!<A%G$7*#%#72$,#A*!Sa,!<#6GA%B!WA%72!A%G!WA62A,!i-../jd!\,A%G7528$,6577!

8A,!I$G#$%$,8#$4A%B!`!"#$G$,)$,65A2+5,A%B!G$,!5U2A56#7#$,2$%!M577A%B:!F%6#%$!A%2$,!422Xdbb!JJJ:+*AUU:B):52b*$G#$%X((6b/Q.RRb-../xKCx+$#65B$:XGS!

y;+,AS!.K:.P:-./0z:!

<IhWW!`!^72$,,$#94#794$7!<A%G$7*#%#72$,#A*!Sa,!<#6GA%B!WA%72!A%G!WA62A,!i-./.j:!

3%S(,*52#(%7$,6577!]T#B#256$!W(*X$2$%8!5%!^72$,,$#947!194A6$%_!#*!>54*$%!G$,!%$A$%!3=`12,52$B#$!

G$7!+*AUU!]$S#2`-/_:!F%6#%$!A%2$,!422XdbbJJJ:+*AUU:B):52b*$G#$%X((6b-.//KbG#Bx$,6577:XGS!y;+,AS!

.K:.P:-./0z:!

<IhWW!`!^72$,,$#94#794$7!<A%G$7*#%#72$,#A*!Sa,!<#6GA%B!WA%72!A%G!WA62A,!i-..C5j:!N$4,X65%:!

;66B$*$#%$,!=$#6:!F%6#%$!A%2$,!422Xdbb!

JJJ:+*AUU:B):52b*$G#$%X((6b//KKPb//KKP:XGS!y;+,AS!./:.R:-./0z:!

<IhWW!`!^72$,,$#94#794$7!<A%G$7*#%#72$,#A*!Sa,!<#6GA%B!WA%72!A%G!WA62A,!i-..C+j:!N$4,X65%!

T$A2794!;Z1&!1$U:!33:!F%6#%$!A%2$,!422XdbbJJJ:+*AUU:B):52b*$G#$%X((6b//PQ0b6Xx%$Ax547x./:XGS!

y;+,AS!.R:.P:-./0z:!

<F\T;N&!W65A7`I#945$6!O!WF>=@&!Z$,*5%%!i-./-j:!\,A%G8aB$!G$,!N#2$,52A,G#G5U2#U:!K:!;AS6:!

Ia%94$%d!T$A2794$,!=5794$%+A94![$,65B:!

T3?Z;'e&!Z(,72!i-..-jd!"(!72$42!G#$!I$G#$%XYG5B(B#U!#%!G$,!194A6$!4$A2$v!F%6#%$!A%2$,!

422XdbbJJJ:*$G#9A62A,$`(%6#%$:G$!y;+,AS!.L:.R:-./0z:!

TF@NW@>&!?4,#72#5%!i/RRLj:!@#%!<#6G!#72!*$4,!567!$#%!<#6G:![#7A$66$!W(*X$2$%8!#%!G$,!IA62#*$G#5`

\$7$667945S2:!12A22B5,2d!W6$22!?(225:!!

TF@NW@>&!?4,#72#5%!i-./-j:!1$4$%iGj!6$,%$%:!3%S(,*52#(%$%!8A,!T$A2794G#G5U2#U!i#G$j!WA62A,!G$7!1$4$%7&!H54,B5%B!-./-!iZ$S2!-j&!1:!-R!`!0L:!

@?F&!h*+$,2(!i/RKPj:!@#%#B$!D,(+$%d!T$,!M#6*!A%G!G57!D,(+6$*!G$,!8$#2B$%E77#794$%!I56$,$#:!3%d!

M,5%8`H(7$S!;6+$,7*$#$,!iZ,7B:j&!=$V2$!8A,!=4$(,#$!G$7!M#6*7:!Q:!;AS6:!i1:0.Q!`!0-.j:!12A22B5,2d!D4#6#XX!

>$965*!gA%:!

@1=@>N&!h,7A65!O!';\m!Z5g%56U5!iZ,7B:j!i-./-jd!WA62A,!G$7!1$4$%7:!3T@&!-./-!iZ$S2!-j:!!

M>@T@W3'\&![(6U$,!i-..P5j:![(,J(,2d!194J$,!*$77+5,$!W(*X$2$%8$%!`!Z$,5A7S(,G$,A%B$%!Sa,!G#$!

$*X#,#794$!M594G#G5U2#U:!3%d![(6U$,!M,$G$U#%B!iZ,7B:j&!194J$,!*$77+5,$!W(*X$2$%8$%:!

Z$,5A7S(,G$,A%B$%!Sa,!G#$!$*X#,#794$!M594G#G5U2#U!i1:!Q!`!/.j:!<562*5%%7J$#6$,d!194%$#G$,![$,65B!

Z(4$%B$4,$%:!

M>@T@W3'\&![(6U$,!i-..P+j:!N#2$,5,#794$!+8J:!i6#2$,5,jY724$2#794$!W(*X$2$%8:!IEB6#94U$#2$%!A%G!

D,(+6$*$!G$,!$*X#,#794$%!@,4$+A%B!$#%$7!W$,%+$,$#947!G$7!T$A2794A%2$,,#9427:!3%d![(6U$,!M,$G$U#%B!

1$#2$!45!

iZ,7B:j&!194J$,!*$77+5,$!W(*X$2$%8$%:!Z$,5A7S(,G$,A%B$%!Sa,!G#$!$*X#,#794$!M594G#G5U2#U!i1:!0K!`!

KCj:!<562*5%%7J$#6$,d!194%$#G$,![$,65B!Z(4$%B$4,$%:!

M>@T@W3'\&![(6U$,!O!W>FII@>&!;6$V!O!I;3";NT&!W65A7!i-./-j:!I$G#$%G#G5U2#U!T$A2794:!@#%$!

@#%Sa4,A%B:!-:!%$A!+$5,+:!A:!$,J:!;AS6:!<$,6#%d!@,#94!194*#G2![$,65B:!

\>F@<@'&!'(,+$,2!i-..-j:!T#*$%7#(%$%!G$,!I$G#$%U(*X$2$%8:!T$7U,#X2#)$!A%G!%(,*52#)$!;7X$U2$:!

3%d!'(,+$,2!\,($+$%!O!<$22#%5!ZA,,$6*5%%!iZ,7B:j!I$G#$%U(*X$2$%8:![(,5A77$28A%B$%&!

T#*$%7#(%$%&!MA%U2#(%$%!1:!/K.!`!/RL:!"$#%4$#*!A%G!Ia%94$%d!HA)$%25:!

Z3?W@=Z3@>&!W%A2!i-./-j:!M#6*!`A%G!M$,%7$45%56c7$:!Q:!;AS6:!12A22B5,2!O!"$#*5,d!I$286$,:!

Z3N\@>&!\$,2,5AG!O!W3@'@>&!I5,#5!i-./.5j:!U65,!`!T$A2794!Q:!"#$%d!HAB$%G!A%G![(6U:!

Z3N\@>&!\$,2,5AG!O!W3@'@>&!I5,#5!i-./.+j:!U65,!`!T$A2794!Q:!N$4,$,3%%$%+$B6$#24$S2!8A*!<A94:!"#$%d!

HAB$%G!A%G![(6U:!

W;II@>&!3%B(!i-..Rj:!M#6*!`!\$%,$!`!"$,U72522:!=$V27(,2$%7c72$*52#794!SA%G#$,2$!M#6*G#G5U2#U!#*!

M594!T$A2794:!<562*5%%7J$#6$,d!194%$#G$,![$,65B!Z(4$%B$4,$%:!

W;ID&!"$,%$,!O!>a7$6!I5%S,$G!i-.//j:![(*!h*B5%B!*#2!M#6*:!<$,6#%d!?(,%$67$%:!

WrID@>![;'!T@'!<FF\;>=&!I#945$6!i-.//j:!125526#94$!12$A$,A%B!)(%!T$A2794A%2$,,#942:!3%d!

I#945$6!WY*X$,!)5%!G$%!<((B55,2!iZ,7B:j&!T$A2794!T#G5U2#U:!N$#2S5G$%!Sa,!G#$!1$UA%G5,72AS$!3!A%G!33:!

i1:!/-!`!CQj:!C:!;AS6:!<$,6#%d!?(,%$67$%:!

W@D1@>&!I5224#7!i-..Lj:!1X#$6S#6*+#6GA%B!5%!G$A2794$%!194A6$%d!M$465%8$#B$v!1X#$6S#6*J#77$%!`!1X#$6S#6*G#G5U2#U!`!1X#$6S#6*%A28A%B!#*!;+#2A,g54,B5%B!-..K:!@#%$!$*X#,#794$!@,4$+A%B:!T#G5U2#U!

T$A2794&!H54,B5%B!-..P!i<5%G!/Cj&!1:!-C!`!CL:!

W@D1@>&!I5224#7!iZ,7B:j!i-./.j:!MY94$,!G$,!794A6#794$%!M#6*+#6GA%Bd!T$A2794&!@%B6#794&!\$794#942$!

A:5:!I#2!8546,$#94$%![(,7946YB$%!Sa,!$#%$%!45%G6A%B7`!A%G!X,(GAU2#(%7(,#$%2#$,2$%!h%2$,,#942:!

Ia%94$%d!U(X5$G:!

W@>'&!D$2$,!?4,#72(X4!i/RRKj:!"#$!65AS$%!7#$!G$%%!:::&!g5!J#$!65AS$%!7#$!G$%%v!@#%$!S#6*#794$!

1$4794A6$!#*!T$A2794A%2$,,#942:!T$,!T$A2794A%2$,,#942&!H54,B5%B!CR!iZ$S2!Cj&!1:!/..!`/.C:!!

W@>'&!D$2$,!?4,#72(X4!i-./-j:!M#6*:!3%d!W65A7`I#945$6!<(BG56!O!Z$,*5%%!W(,2$!iZ,7B:j&!\,A%G8aB$!

G$,!N#2$,52A,G#G5U2#U!i1:!-/L!`!--Rj:!K:!;AS6:!Ia%94$%d!T$A2794$,!=5794$%+A94![$,65B:!!

WN;'=&!I#945$6!O!1D3@NI;''&!>5X45$6!iZ,7B:j!i-..Pj:!\,A%GUA,7!M#6*!/:!W#%(:!M$,%7$4$%:!

[#G$(UA%72:!I52$,#56#$%!Sa,!G$%!1$UA%G5,+$,$#94!3!A%G!33:!<,5A%794J$#Bd!194,($G$6![$,65B:!!

WNh\@&!@2c*(6(B#794$7!"E,2$,+A94!G$,!G$A2794$%!1X,594$!i-..-j:!-C:!;AS6:!<$,6#%!O!'$J!m(,Ud!T$!

\,Ac2$,:!

I@=e&!?4,#72#5%!i/RKPj:!D,(+6$*$!G$,!T$%(252#(%!#*!1X#$6S#6*:!3%d!M,5%8`H(7$S!;6+$,7*$#$,!iZ,7B:j&!

=$V2$!8A,!=4$(,#$!G$7!M#6*7!i1:!0-/!`!0L.j:!Q:!;AS6:!12A22B5,2d!D4#6#XX!>$965*:!HA%:!!

IFW&!1(B!m$$!O!@>=N&!<$,%45,G!i-./-j:!I$G#$%U(*X$2$%8:!3%d!I5%A$65!D5$942$,!O!I#945$65!12(9U!

O!15+#%5!194*E68$,`@#+#%B$,!O!D$2$,!16$X9$)#9`e594!O!"(6SB5%B!"$#,$,!iZ,7B:j&!Z5%G+A94!

W(*X$2$%8(,#$%2#$,2$,!h%2$,,#942!i1:!/.Q!`!//Pj:!"$#%4$#*d!<$628:!

IF';?F&!H5*$7!i-./-j:!M#6*!)$,72$4$%:!WA%72&!=$94%#U&!1X,594$&!\$794#942$!A%G!=4$(,#$!G$7!M#6*7!

A%G!G$,!%$A$%!I$G#$%:!I#2!$#%$,!@#%Sa4,A%B!#%!IA62#*$G#5:!u+$,5,+:!A:!$,J:!-:!;AS6:!>$#%+$U!+$#!Z5*+A,Bd!>(J(462:!

IDM1!`!I$G#$%XYG5B(B#794$,!M(,794A%B7)$,+A%G!1aGJ$72!iZ,7B:j!i-./-5jd!H3I`12AG#$!-./-:!HAB$%G&!

3%S(,*52#(%&!iIA62#`j!I$G#5&!<57#7A%2$,7A94A%B!8A*!h*B5%B!/-`!+#7!/R`HY4,#B$,!#%!T$A279465%G:!

F%6#%$!A%2$,!422XdbbJJJ:*XS7:G$bg#*!y;+,AS!.L:.R:-./0z:!

1$#2$!46!

IDM1!`!I$G#$%XYG5B(B#794$,!M(,794A%B7)$,+A%G!1aGJ$72iZ>1\:j!i-./-+jd!W3I`12AG#$!-./-:!W#%G$,!

n!I$G#$%&!?(*XA2$,!n!3%2$,%$2:!<57#7A%2$,7A94A%B!8A*!I$G#$%A*B5%B!K`!+#7!/0`HY4,#B$,!#%!

T$A279465%G:!F%6#%$!A%2$,!422XdbbJJJ:*XS7:G$bU#*!y;+,AS!.L:.R:-./0z:!!

';\m&!Z5g%56U5!O!1=>h\@>&!Ha,B$%!O!"3'=@>1=@3'@>&!"$,%$,!i-./-j:!ME,G$,A%B!)(%!W(*X$2$%8$%!

#*!T$A2794A%2$,,#942!3%d!I5%A$65!D5$942$,!O!I#945$65!12(9U!O!15+#%5!194*E68$,`@#+#%B$,!O!D$2$,!

16$X9$)#9`e594!O!"(6SB5%B!"$#,$,!iZ,7B:j&!Z5%G+A94!U(*X$2$%8(,#$%2#$,2$,!h%2$,,#942!i1:!/0K!`!

/Q-j:!"$#%4$#*d!<$628:!!

DM@3MM@>&!H(594#*!O!1=;3\@>&!I#945$6!i-..Pj:!eA,!1#2A52#(%!G$,!M#6*G#G5U2#U:!T$,!T$A2794A%2$,,#942&!

H54,B5%B!!-..P!iZ$S2!0j&!1:!-!`!L:!

DM31=@>&!;%G,$57!i-..Kj:!M#6*!`!G57!)$,B$77$%$!I$G#A*:!@#%!D6YG(c$,!Sa,!G#$!M#6*+#6GA%B!5%!194A6$%:!

F%6#%$!A%2$,!422XdbbJJJ:%88:94b5U2A$66b725,27$#2$b5,2#96$@ZNMM`/:K0Q--!y;+,AS!/L:.R:-./0z:!

>^NN&!M,5%8!H(7$S!i-..Lj:!I$24(G$%!G$,!I$G#$%XYG5B(B#U:!F%6#%$!A%2$,!

422XdbbJJJ:G#$2$,+559U$X,$#7:G$bS#6$5G*#%bXGSb>($66xI$24(G$%xG$,xI$G#$%XYG5B(B#U:XGS!

y/0:.R:-./0z:!

1;?Z1`ZFI<;?Z&!W65A7!i-..Qj:!W(%8$X2#(%$66$!>54*$%a+$,6$BA%B$%!8A,!#%2$,G#78#X6#%Y,$%!

<#6GJ#77$%7945S2:!3%d!W65A7!15947`Z(*+594!iZ,7B:j&!<#6GJ#77$%7945S2:!T#78#X6#%$%&!=4$*$%&!I$24(G$%!

i1:!//!`!-.j:!M,5%USA,2!5*!I5#%d!1A4,U5*X:!

1;h@>Nr'T@>&!"#66#+56G!i-..Cj:!39(%#9!=A,%v!@#%$!<#22$!A*!3U(%(U657*A7:!3%d!?4,#725!I55,!O!Z$,+$,2!<A,G5!iZ,7B:j&!39(%#9!=A,%:!T#$!%$A$!I5942!G$,!<#6G$,!i1:!C.L!`!C-Kj:!WE6%d!TAI(%2:!

1?ZI3T=&!1#$BS,#$G!H:!i-..0j:!I$G#$%UA62A,J#77$%7945S2:!3%d!;%7B5,!'a%%#%B!O![$,5!'a%%#%B!iZ,7B:j&!

W(%8$X2$!G$,!WA62A,J#77$%7945S2$%:!=4$(,$2#794$!\,A%G65B$%!`!;%7Y28$!`!D$,7X$U2#)$%!i1:!0Q/!`!0KRj:!

12A22B5,2!A%G!"$#*5,d!I$286$,:!!

1?Z^>WZh<@>&!"(6SB5%B!i-..-j:!M#6*!#*!T$A2794A%2$,,#942!`!N#2$,52A,2,5%7X(,2$A,&!M#6*5%56c7$!

(G$,!J57v!3%S(,*52#(%$%!8A,!T$A2794G#G5U2#U!i#G$j!M#6*!#*!T$A2794A%2$,,#942&!H54,B5%B!-..0!iZ$S2!

Cj&!1:!P!`!/K:!

1D3@NI;''&!>5X45$6!i-.//j:!M#6*+#6GA%B{!=,5G#2#(%$%!:!I(G$66$!:!D$,7X$U2#)$%:!Ia%94$%d!U(X5$G:!

1=;3\@>&!I#945$6!i-..Lj:!I$G#$%+$B,#SS$&!I$G#$%G#7UA,7$&!I$G#$%U(%8$X2$:!<5A72$#%$!$#%$,!

T$A2794G#G5U2#U!567!I$G#$%UA62A,G#G5U2#U:!<562*5%%7J$#6$,d!194%$#G$,![$,65B!Z(4$%B$4,$%:!

1=;3\@>&!I#945$6!iZ,7B:j!i-./0j:!@,8Y466#2$,52A,!#*!M#6*:!T$,!T$A2794A%2$,,#942:!KQ:!H54,B5%B!iZ$S2!0j:!

1=;'\@N&!H(45%%!O!1?ZrM@>&!12$S5%!i-./-j:!1X,594,YA*$!/:!T$A2794!Sa,!G#$!;Z1`F+$,72AS$:!"#$%d!

^72$,,$#94#794$,!<A%G$7)$,65B:!

1=3N@==F&!12$S5%!i-..0j:!M#6*U(*X$2$%8!`!@#%$!+#6GA%B724$(,$2#794$!<$(+5942A%B!G$7!I$G#A*7!M#6*:!

F%6#%$!A%2$,!422XdbbS(,A*J#77$%:+gS:#%S(bG52$%+5%Ub5,+$#2$%bRLx/Q5.5R+K:XGS!y;+,ASd!/.:.P:-./0j:!

1h>W;ID&!?5,(65!i-./.j:!eA,!<$G$A2A%B!G$,!194A6A%B!S#6*Y724$2#794$,!W(*X$2$%8!5A7!G$,!1#942!

A%2$,794#$G6#94$,!MY94$,:!3%d!I5224#7!W$X7$,!iZ,7B:j&!MY94$,!G$,!794A6#794$%!M#6*+#6GA%Bd!T$A2794&!

@%B6#794&!\$794#942$!A:5:!I#2!8546,$#94$%![(,7946YB$%!Sa,!$#%$%!45%G6A%B7`!A%G!

X,(GAU2#(%7(,#$%2#$,2$%!h%2$,,#942!i1:!PQ!`!/.Pj:!Ia%94$%d!U(X5$G:!

=hNFTe3@?W3&!\$,45,G!i/RRLj:!I$G#$%!#%!@,8#$4A%B!A%G!<#6GA%B:!\,A%G65B$%!A%G!<$#7X#$6$!$#%$,!45%G6A%B7`!A%G!$%2J#9U6A%B7(,#$%2#$,2$%!I$G#$%XYG5B(B#U:!0:!;AS6:!<5G!Z$#6+,A%%d!W6#%U45,G2:!

"@3'@>=&!M,5%8!@*5%A$6!i-../j:![$,B6$#94$%G$!N$#72A%B7*$77A%B!#%!194A6$%!`!$#%$!A*72,#22$%$!

1$6+72)$,72Y%G6#94U$#2:!3%d!M,5%8!@*5%A$6!"$#%$,2!iZ,7B:j&!N$#72A%B7*$77A%B$%!#%!194A6$%!i1:!/L!`!0/j:!

"$#%4$#*d!<$628:!

"@>IW@&!HA225!i-./-j:!N#2$,52A,`!A%G!I$G#$%A%2$,,#942:!3%d!W65A7`I#945$6!<(BG56!O!Z$,*5%%!W(,2$!

iZ,7B:j&!\,A%G8aB$!G$,!N#2$,52A,G#G5U2#U!i1:!R/!`!/.Cj:!Ia%94$%d!T$A2794$,!=5794$%+A94![$,65B:!!

1$#2$!47!

"3@T@I;''&!T#$2$,!i-..Qj:!M#6*!A%G!M$,%7$4$%:!3%d!W65A7!15947`Z(*+594!iZ,7B:j&!<#6GJ#77$%7945S2:!

T#78#X6#%$%&!=4$*$%&!I$24(G$%!i1:!0KQ!`!0P.j:!M,5%USA,2!5*!I5#%d!1A4,U5*X:!

"3'=@>&!>5#%$,!i/RR-j:!M#6*7(8#(6(B#$:!@#%$!@#%Sa4,A%B!#%!G57![$,4Y62%#7!)(%!M#6*&!WA62A,!A%G!

\$7$667945S2:!Ia%94$%d!qA#%2$77$%8:!

"3'=@>1=@3'@>&!"$,%$,!i-..Pj:!@#%$!5%G$,$!;,2!8A!$,8Y46$%:!#G$!M#6*!#*!T$A2794A%2$,,#942&!-..0!

iZ$S2!Cj!1:!Q!`!K:!

!

!

!

!!

!

!

1$#2$!48!

g CGG#$&(-J*O'.P'#+,-#*!

;++:!/d!\$,Y2$+$7#28!HAB$%G6#94$,!-./-!%594!IYG94$%!A%G!HA%B$%!i;%B5+$%!#%!D,(8$%2&!<57#7d!566$!

<$2$#6#B2$%&!%p/:-./l!qA$66$d!IDM1&!-./-5j!

;++:!-d!I$G#$%+$794YS2#BA%B!2YB6#94b*$4,*567!X,(!"(94$!#%!G$,!M,$#8$#2!-./-!%594!IYG94$%!A%G!

HA%B$%!i;%B5+$%!#%!D,(8$%2&!<57#7d!566$!<$2$#6#B2$%&!%p/:-./l!qA$66$d!IDM1&!-./-5&!1:!00j!

;++:! 0d! 3%45626#94$! [$,2$#6A%B! G$,! 3%2$,%$2%A28A%B! %594! G$%! W52$B(,#$%! W(**A%#U52#(%&! 1X#$6$&!

3%S(,*52#(%77A94$!A%G!h%2$,4562A%B! i;%B5+$%! #%! D,(8$%2&! <57#7d! 3%2$,%$2`'A28$,&! %p/:/P-l! qA$66$d!

IDM1&!-./-5j!

;++:! Cd! =Y2#BU$#2$%! #*! 3%2$,%$2b5*! ?(*XA2$,! 2YB6#94b*$4,*567! X,(! "(94$! 8A*! 194J$,XA%U2!

h%2$,4562A%B! %594! C! ;62$,7B,AXX$%! i;%B5+$%! #%! D,(8$%2&! <57#7d! 566$! <$S,5B2$%&! %p/:-./l! qA$66$d!

IDM1&!-./-5j!

;++:! Qd! @,#%%$,2$! h%2$,,#94275U2#)#2Y2$%! i;%B5+$%! #%! D,(8$%2&! <57#7d! <$S,5B2$&! G#$! %594! $#B$%$%!

;%B5+$%!*#%G$72$%7!$#%$%!1X#$6S#6*!5A7Sa4,6#94!+$7X,(94$%!45+$%&!%pCQKl!qA$66$d!W$X7$,&!-..L&!1:!

C0j!

;++:! Kd! [(%! 194a6$,3%%$%! B$Ja%7942$! S#6*7X$8#S#794$! ;,+$#27S(,*$%! #*! h%2$,,#942! i;%B5+$%! #%!

D,(8$%2&! <57#7d! <$S,5B2$&! G#$! %594! $#B$%$%! ;%B5+$%! *#%G$72$%7! $#%$%! 1X#$6S#6*! 5A7Sa4,6#94!

+$7X,(94$%!45+$%&!%pCQKl!qA$66$d!W$X7$,&!-..L&!1:!CCj!

;++:! Ld! M#6*U(*X577! %594! $#%$*! W6577#S#U52#(%7*(G$66!*#2! P!;7X$U2$%! iqA$66$d! W65%2!O! 1X#$6*5%%&!

-..P&!1:-/j!

;++:!Pd!T#$!M#6**(%25B$!A%G!#4,$!@6$*$%2$!iqA$66$d!W65%2!O!1X#$6*5%%&!-..P&!1:!/-Pj!

;++:!Rd!<#6G7$*5%2#794$!194#942$%*(G$66!iqA$66$d!T($6U$,&!-./-&!1:!0Kj!

;++:!/.d!<$,$#94$!G$,!I$G#$%UA62A,U(*X$2$%8!#%!T$A2794!iqA$66$d!)(%!125#B$,&!-..L&!5A7!1X#$6*5%%&!

-.//&!1:!/Lj!

;++:!//d!D,(GAU2#(%7(,#$%2#$,2$!M#6*G#G5U2#U!iqA$66$d!1X#$6*5%%!1:!RPj!

;++:!/-d!FX$,52#(%56#7#$,A%B!G$,!I$G#$%U(*X$2$%8!%594!<559U$!/RRP!i<IhWW&!-./.&!1:!Cj!

!

!

!

|394!$,U6Y,$&!G577!#94!G#$!)(,6#$B$%G$!;,+$#2!ipg$G$!G#B#256$!3%S(,*52#(%&!8:<:!=$V2$&!<#6G$,&!;AG#(`!A%G!

[#G$(! T52$#$%&! DTM7! $29:j! 7$6+7272Y%G#B! 5%B$S$,2#B2! A%G! G#$! *#2! #4,! A%*#22$6+5,! )$,+A%G$%$%!

=Y2#BU$#2$%!7$6+72!$,+,5942!45+$:!;66$!5A7!B$G,A9U2$%&!A%B$G,A9U2$%!(G$,!G$*!3%2$,%$2! #*!"(,265A2!

(G$,! #*! J$7$%26#94$%! 3%4562! a+$,%(**$%$%! M(,*A6#$,A%B$%! A%G! W(%8$X2$! 7#%G! 8#2#$,2! A%G! GA,94!

MAf%(2$%!+8J:!GA,94!5%G$,$!B$%5A$!qA$66$%5%B5+$%!B$U$%%8$#94%$2:!394!+#%!*#,!+$JA772&!G577!$#%$!

S56794$!@,U6Y,A%B!,$9426#94$!M(6B$%!45+$%!J#,G:!T#$7$!@,U6Y,A%B!B#62!5A94!Sa,!G#$!WA,8S577A%B!G#$7$7!

<$,#9427&!7(J#$!$)$%2A$66!)(,45%G$%$!;%4Y%B$:|!