EAK^]YX=2_QRO].6K_NO\2=^\K^RNOO<=SWSc_3##" # =_OAK^]YXO^KV /^RXSMS^cKXN=MRYYV-RYSMO8OaDOKVKXN+XX_KV<O`SOaYP/N_MK^SYX! #G Z_\MRK]O K \O]SNOXMO aS^RSX ^RO MK^MRWOX^ K\OK YP ^ROS\ PK`Y_\ON /^RXSMS^cKXN=MRYYV-RYSMO ]MRYYV =?/ A+>=98 .+@3. 2?12/= 2?12 6+?./< <9,/<> =><+>2.//+8.3,<+237=373C? ,OMK_]O]MRYYVMRYSMOaK]MOX^\KV^Y^ROM\OK^SYXYPMYWZO^S^SYXK UOcKSWYPY_\\O]OK\MRRK]LOOX^YVOK\XKLY_^^ROZ\YMO]]O]YP]MRYYV MRYSMO_XNO\^ROXOaZYVSMSO]=SXMOaOLOQKX Y_\\O]OK\MRaORK`O MYVVOM^ONK]_L]^KX^SKVKWY_X^YPLY^R[_KX^S^K^S`OKXN[_KVS^K^S`ONK^K KLY_^]MRYYVMRYSMO3X^RS]K\^SMVOaOPYM_]YXO^RXSMS^cSX\OVK^SYX^Y ]MRYYV MRYSMO ]SXMO Y_\ \O]OK\MR SXNSMK^O] ^RK^ S^ S] K UOc PKM^Y\ SX _XNO\]^KXNSXQ ^RO O`YV`SXQ NcXKWSM] YP ^RO ]OMYXNK\c ON_MK^SYX WK\UO^ SX +Y^OK\YK8Oa DOKVKXN KXN S^ S] KX S]]_O ^RK^ RK] \OMOS`ON VS^^VOK^^OX^SYXSX^ROVS^O\K^_\O^YNK^O3^S]Y_\RYZO^RK^^RS]ZKZO\aSVV +L]^\KM^$ KM^K]K]^SW_V_]^YP_\^RO\\O]OK\MRaY\USX^Y^RS]MYWZVObK\OK >ROS]]_OYP]MRYYVMRYSMORK]LOOX^ROPYM_]YPKQ\YaSXQKWY_X^YP\O]OK\MR KXN^ROY\O^SMKVaY\USXON_MK^SYXZYVSMc3X^RS]K\^SMVOaOPYM_]YXO^RXSMS^c >RO,KMUQ\Y_XN SX\OVK^SYX^Y]MRYYVMRYSMO]SXMOY_\\O]OK\MRSXNSMK^O]^RK^S^S]KUOcPKM^Y\SX _XNO\]^KXNSXQ ^RO O`YV`SXQ NcXKWSM] YP ^RO ]OMYXNK\c ON_MK^SYX WK\UO^ SX +Y^OK\YK8OaDOKVKXN,cN\KaSXQYXNK^KMYVVOM^ONLc>RO=WS^RPSOVN:\YTOM^ ]SXMO ## aO ^\KMU ^RO ZK^^O\X] YP ]MRYYV MRYSMO YP ]^_NOX^] KXN ^ROS\ PKWSVSO]KXN^ROOPPOM^]YP]OVOM^SYXObO\MS]ONLc]YWO]MRYYV]AOK\Q_O^RK^ WKXc7KY\SKXN:KMSPSM3]VKXN]]^_NOX^]K\ONS]KN`KX^KQONLcdYXSXQZYVSMSO] KSWONK^SXM\OK]SXQZK\OX^KVMRYSMOYP]MRYYVKXN^RK^^RO]MRYYV]aRSMR]O\`O ^RO]O]^_NOX^]RK`OLOOXRK\NO]^RS^Lc^ROMYWZO^S^S`OWOMRKXS]W]SX^\YN_MON NYM_WOX^ON L_^ S^ S] aY\^R \O]^K^SXQ RO\O ^RO UOc K]]_WZ^SYX] YX aRSMR^RO\OWY`KVYPdYXSXQaK]LK]ON0S\]^S^aK]K]]_WON^RK^^RO \OWY`KV YP dYXSXQ aY_VN QS`O SXNS`SN_KV] K Q\OK^O\ MRYSMO K] ^Y ^RO ]MRYYV^ROcMY_VNK^^OXN>RS]K]]_WZ^SYX\O]^ONYX^ROLOVSOP^RK^^RO ]_ZZVc YP NO]S\ON ]MRYYV] aY_VN O[_KV ^RO NOWKXN KXN ^RK^ KVV SXNS`SN_KV] aY_VN RK`O KX O[_KV KLSVS^c ^Y KMMO]] ^RO ]MRYYV YP ^ROS\ MRYSMO =OMYXNVc S^ aK] K]]_WON ^RK^ ]MRYYV] aY_VN MYWZO^O PY\ SX^YON_MK^SYXKVZ\Y`S]SYX 3 >RO LKMUQ\Y_XN ^Y ^RO MRKXQO] ^Y ]MRYYV dYXSXQ S] XYa aOVV ]^_NOX^] Lc WYNSPcSXQ ^ROS\ ZYVSMSO] KXN Z\KM^SMO] SP ^ROc aO\O XY^ ]_MMO]]P_VSXK^^\KM^SXQ]_PPSMSOX^X_WLO\]YP]^_NOX^]>RS\NVcS^aK] X##^RO=WS^RPSOVN:\YTOM^LOQKXS^]\O]OK\MRaY\UaS^R^ROMOX^\KV K]]_WON^RK^^RS]USXNYPMYWZO^S^SYXaY_VNVOKN^YKXSWZ\Y`OWOX^ KSWYPWYXS^Y\SXQ^ROSWZKM^YPWKTY\ZYVSMcMRKXQO]SXON_MK^SYX SXY_^MYWO]ZK\^SM_VK\VcPY\^RY]O]^_NOX^]aRYRK`OLOOXZO\]S]^OX^Vc SX^\YN_MON SX ^RO #"# /N_MK^SYX +M^ KXN Ob^OXNON SX ^RO ## NS]KN`KX^KQON /N_MK^SYX+WOXNWOX^+M^3XL\SOP^RY]OZYVSMcMRKXQO]aO\OLK]ON Lc ^RO ]c]^OW YP ]^K^O ON_MK^SYX Z\Y`S]SYX SX +Y^OK\YK8OaDOKVKXN YX ^RO LOVSOP ^RK^ SX^\YN_MSXQ MYWZO^S^SYX SX^Y ^RO Z\Y`S]SYX YP >RO\O K\O ^aY aKc] SX aRSMR ^RO SX^\YN_M^SYX YP KX ON_MK^SYX ON_MK^SYXaY_VNSWZ\Y`OY_^MYWO]LOMK_]O]MRYYV]aY_VNLOPY\MON WK\UO^aK]^YKNN\O]]^ROPKSV_\OYP^ROON_MK^SYX]c]^OWPY\7KY\SKXN ^Y MYWZO^O PY\ ]^_NOX^] KXN aY_VN ^RO\OPY\O \KS]O ^ROS\ ON_MK^SYXKV :KMSPSM 3]VKXN] ]^_NOX^] 0S\]^Vc S^ aY_VN \OWY`O ^RO S\YX MKQO YP ]^KXNK\N]SXY\NO\^YNY]Y+MOX^\KVWOMRKXS]WPY\M\OK^SXQMYWZO^ dYXSXQaRSMRS^aK]MVKSWONaK]VSWS^SXQ^ROMRYSMOYP^RO]O]^_NOX^] S^SYX aK] ^Y SXM\OK]O ZK\OX^KV MRYSMO YP ]MRYYV =MRYYV dYXO] aO\O LcPY\MSXQ^ROW^Y\OWKSXSX_XNO\ZO\PY\WSXQ]MRYYV],OX^YX#"! \OWY`ON]Y^RK^]^_NOX^]aY_VNSX^ROY\cRK`O^ROP\OONYW^YK^^OXN =OMYXNVcS^aK]OX`S]KQON^RK^K]MYX]_WO\]^ROcaY_VNRK`O^RO ^RO]MRYYVYP^ROS\MRYSMO>RS]aK]KMRKXQOP\YWZ\O`SY_]VOQS]VK^SYX ZYaO\^YSXPV_OXMO]MRYYVZYVSMc^YLOWY\O\O]ZYX]S`O^Y^ROS\VOK\XSXQ aRSMRO]]OX^SKVVc\O[_S\ON]^_NOX^]^YK^^OXN^RO]MRYYV^ROcaO\OSX \O[_S\OWOX^] KXN ^RS] aY_VN _V^SWK^OVc OXMY_\KQO NS`O\]S^c YP dYXO PY\ 7M-_VVYMR ##% ## RK] NO^KSVON ^RO MYWZVOb ]S^_K^SYX Z\Y`S]SYXaS^RSX^ROON_MK^SYXKVWK\UO^AOLOQSXLcObKWSXSXQ^RO]O \OQK\NSXQdYXSXQZ\SY\^Y^RO#"#/N_MK^SYX+M^L_^-RKZWKX## K]]_WZ^SYX]SX^ROVSQR^YPY_\\O]OK\MRPSXNSXQ] Z"RK]]_QQO]^ON^RK^SXO]]OXMO^ROKLSVS^c^YMRYY]O]MRYYV]aS^RSX 3XY_\^RS\N\OZY\^^Y^RO7SXS]^\cYP/N_MK^SYX6K_NO\O^KV## ^RO]^K^O]c]^OWaK]VSWS^ON^Y^RY]OaRYMY_VNKPPY\N^YWY`OKXN aOZ\O]OX^ONKXObZVY\K^Y\cKXKVc]S]YPO^RXSMMRYSMOZK^^O\X]aRSMR # /^RXSMS^cKXN=MRYYV-RYSMO#! #"=_OAK^]YXO^KV OXKLVON _] ^Y ObKWSXO ^aY [_O]^SYX] 0S\]^Vc NY 7KY\S KXN :KMSPSM #ZO\MOX^YZ^SXQPY\WSNNVOMS\M_S^]MRYYV]:KUORKZK\OX^]ZO\MOX^ 3]VKXN]ZK\OX^]aRKXK_KSQKRK`ONSPPO\OX^ZK^^O\X]YPMRYSMOP\YW^ROS\ KXN9^RO\ZK\OX^]ZO\MOX^\K\OVcZ\OPO\\ONVYaMS\M_S^]MRYYV] :KUORKMY_X^O\ZK\^]KXNK\O^ROcO[_KVVcKLVO^YKMMO]]^ROS\Z\OPO\\ON >ROXOb^[_O]^SYX\OVK^ON^YaRSMR]MRYYV]ZK\OX^]KM^_KVVcKZZVSON ]MRYYV)>RONK^KSX^RK^\OZY\^aO\OLK]ONYXKa\S^^OX[_O]^SYXXKS\O PY\+]aK]^ROMK]OaS^R\OVK^SYX]RSZ]LO^aOOX=/=KXN]MRYYVMRYSMO MYWZVO^ONLcZK\OX^]KXNMK\OQS`O\]SX##{^ROcOK\^RK^^RO]^_NOX^] ZK\OX^]aRY]^K^OKZ\OPO\OXMOPY\K]MRYYVSXKZK\^SM_VK\MS\M_S^LcKXN SX Y_\ VYXQS^_NSXKV MYRY\^ LOQKX ]OMYXNK\c ]MRYYV ,OMK_]O YP ^RO VK\QOKZZVcPY\^RK^MS\M_S^6K_NO\O^KV##>ROKZZVSMK^SYX]^YRSQR \OVK^S`OVc VYa \O]ZYX]O \K^O P\YW 7KY\S KXN :KMSPSM 3]VKXN] PKWSVSO] MS\M_S^ ]MRYYV] ObZ\O]]ON K] K ZO\MOX^KQO YP ^RY]O aRY Z\OPO\ K RSQR PYVVYa_Z ZRYXO SX^O\`SOa] aO\O WKNO Lc 7KY\S KXN =KWYKX MS\M_S^]MRYYVS]XO`O\VO]]^RKX"!ZO\MOX^PY\KXcO^RXSMQ\Y_Z SX^O\`SOaO\]>ROPYVVYaSXQ\O]_V^]K\OLK]ONYXXOK\Vc\O]ZYX]O] 2YaO`O\ ZK^^O\X] YP K^^OXNKXMO \O`OKV K NSPPO\OX^ ZSM^_\O >RO ^Y^ROZK\OX^][_O]^SYXXKS\O]KXNPYVVYa_ZZRYXOSX^O\`SOa]/SQR^ ZO\MOX^KQO]YP]^_NOX^]K^^OXNSXQKRSQRMS\M_S^]MRYYVaO\O ZO\MOX^YP^RO\O]ZYX]O]aO\OP\YW7KY\SPKWSVSO]PS`OZO\MOX^aO\O ZO\MOX^"ZO\MOX^KXN ZO\MOX^ P\YW:KMSPSM3]VKXN]ZK\OX^]]SbZO\MOX^aO\OP\YW^RY]OaORK`OMYNON KXN 9^RO\ PKWSVSO] \O]ZOM^S`OVc >RY]O K^^OXNSXQ K RSQR MS\M_S^ ]MRYYV K] 9^RO\ aRY aO\O Z\ONYWSXKX^Vc +]SKX KXN ^RO \O]^ aO\O ObZ\O]]ONK]KZO\MOX^KQOYP^RY]OaRYZ\OPO\\ONKRSQRMS\M_S^]MRYYV /_\YZOKXY\:KUORK aO\O ZO\MOX^ PY\ 7KY\S PKWSVSO] ! ZO\MOX^ PY\ 9^RO\ PKWSVSO] " ZO\MOX^PY\7KY\S:KMSPSM3]VKXN:KUORK ZO\MOX^PY\:KMSPSM3]VKXNPKWSVSO]KXN#ZO\MOX^PY\:KUORKPKWSVSO] >RS]SWWONSK^OVc\KS]O]^RO[_O]^SYXYPaRcS^WSQR^LO^RK^]YPOa >RO8Y^SYXYP-S\M_S^] 7KY\S ]^_NOX^] K^^OXN RSQR MS\M_S^ ]MRYYV] O`OX aROX ^ROc ]^K^O K >RO PS\]^ [_O]^SYX aO K]UON ZK\OX^] aK] 9P ^RO ]OMYXNK\c ]MRYYV] K`KSVKLVO^YcY_aRSMRYXONSNcY_WY]^aKX^cY_\]YXNK_QR^O\^YQY ^Y)>YKXKVc]O^RO\O]ZYX]O]aOSX^\YN_MON^ROXY^SYXYPMS\M_S^]K] KWO^RYNYPNS`SNSXQ]MRYYV]KMMY\NSXQ^Y^ROS\ZYZ_VK\S^caS^RSX^RO ON_MK^SYXWK\UO^aO]^_NSON,KVV,YaO1OaS\^d##2SQRMS\M_S^ ]MRYYV]KVVYZO\K^ONOX\YVWOX^]MROWO]RKNKRSQRWOKX=/=KXNaS^R YXOObMOZ^SYXaO\O]SXQVO]ObSXMRK\KM^O\>RO]O]MRYYV]RKN\OVK^S`OVc RSQRX_WLO\]YP]^_NOX^]aRY^\K`OVVONVYXQNS]^KXMO]^YK^^OXN^ROW 6Ya MS\M_S^ ]MRYYV] YP^OX RKN NOMVSXSXQ ]^_NOX^ X_WLO\] RKN K VYa WOKX =/= KXN aO\O KVV MYON_MK^SYXKV 7SNNVO MS\M_S^ ]MRYYV] RKN K WOKX=/=LO^aOOX^RK^YP^RORSQRKXNVYaMS\M_S^]MRYYV]KXNaRSVO YXO Y\ ^aY YZO\K^ON OX\YVWOX^ ]MROWO] ^ROc RKN \OVK^S`OVc POa ]^_NOX^]^\K`OVVSXQVYXQNS]^KXMO]^YK^^OXN^ROW>ROcMYWZ\S]ONLY^R ]SXQVO]ObKXNMYON_MK^SYXKV]MRYYV] MYXMV_]SYXS]^RK^^RO]O]MRYYV]K\OSX]YWOaKcNS]M\SWSXK^SXQKQKSX]^ 7KY\S]^_NOX^]SX^ROS\]OVOM^SYXM\S^O\SK3^S]aY\^R\OPVOM^SXQYX^ROPKM^ ^RK^KVVYP^RORSQRMS\M_S^]MRYYV]SX^ROWK\UO^aO]^_NSONaO\OKLVO^Y YZO\K^O KX OX\YVWOX^ ]MROWO ]SXMO ^ROc RKN WY\O KZZVSMKX^] ^RKX ZVKMO]K`KSVKLVO>ROcK\O^RO\OPY\OKLVO^YObO\MS]O]YWOMYX^\YVY`O\ ^ROS\]^_NOX^SX^KUO 3XY\NO\^YSX`O]^SQK^O^RO[_O]^SYXYPaRO^RO\]MRYYV]NYSXNOON ]OVOM^ YX ^RO LK]S] YP O^RXSMS^c KX KXKVc]S] YP MY`K\SKXMO aK] \_X PY\ ^RY]O PKWSVSO] aRSMR RKN KZZVSON ^Y K^ VOK]^ YXO RSQR MS\M_S^ ]MRYYV _]SXQ^ROWOKX:\YQ\O]]S`O+MRSO`OWOX^>O]^:+>>]MY\OKXN=/=K] MY`K\SK^O]KXNO^RXSMS^cK]^ROSXNOZOXNOX^`K\SKLVO>ROZ\YLKLSVS^c YPKZZVSMK^SYX]PY\RSQRMS\M_S^]MRYYV]LOSXQKMMOZ^ONLc^RY]O]MRYYV] aK] ^RO NOZOXNOX^ `K\SKLVO >RO KXKVc]S] ]RYaON ^RK^ O^RXSMS^c S] K 2SQRVc]SQXSPSMKX^NSPPO\OXMO]aO\OPY_XNLO^aOOXO^RXSMQ\Y_Z]YX ^RS][_O]^SYXT_]^K]^RO\OaO\OLO^aOOX]YMSYOMYXYWSMQ\Y_Z]7KY\S ZK\OX^]aO\O^ROVOK]^VSUOVc^YZ\OPO\RSQRMS\M_S^]MRYYV]ZO\MOX^ aRSVO:KMSPSM3]VKXNZK\OX^]ZO\MOX^]OOWONT_]^K]VSUOVcK]:KUORK ZK\OX^]ZO\MOX^^YZ\OPO\RSQRMS\M_S^]MRYYV]>RY]OMYNON9^RO\ aO\OWY]^VSUOVc^YZ\OPO\RSQRMS\M_S^]MRYYV] Z\OPO\OXMO PY\ ^RO]O ]MRYYV] KXN KZZVc ^Y ^ROW >RO WY]^ YL`SY_] ZO\MOX^>RO7KY\S ZK\OX^]aO\OKVWY]^O`OXVc]ZVS^LO^aOOXRSQRWSNNVOKXNVYaMS\M_S^ ]MRYYV]aRO\OK]^RO:KMSPSM3]VKXN]ZK\OX^]aO\OZYVK\S]ONaS^R\Y_QRVc ^RO]KWOZO\MOX^KQO]Z\OPO\\SXQVYaKXNRSQRMS\M_S^]MRYYV]KXNYXVc PKM^Y\Z'Y`O\KXNKLY`OKMRSO`OWOX^KXN=/=SXNO^O\WSXSXQ ^RO KLSVS^c YP ZK\OX^] KXN ]^_NOX^] ^Y \OKVS]O ^ROS\ MRYSMO] SX ^RO ON_MK^SYXWK\UO^ZVKMO >RO _XO[_KV \K^O] YP KMMOZ^KXMO Lc O^RXSM Q\Y_Z WOWLO\]RSZ SX^\YN_MO]^RO\OKVS^c^RK^SX]YWOMK]O]S^S]^RO]MRYYVaRSMRS]NYSXQ ^ROMRYY]SXQKXNXY^T_]^^RO]^_NOX^KXN^RK^]YWO]^_NOX^]VSUO]YWO ]MRYYV]K\OMVOK\VcZO\MOS`ON^YLOWY\ONO]S\KLVO^RKXY^RO\]>RONK^K SXNSMK^O^RK^^RONO]S\KLSVS^cYP]^_NOX^]S]\OVK^ON^YO^RXSMS^cK]aOVV K] ^Y ]YMSKV MVK]] { KV^RY_QR ^RO ^aY K\O SXOb^\SMKLVc VSXUON SX 8Oa /^RXSMS^cKXN=MRYYV-RYSMO## =_OAK^]YXO^KV DOKVKXNKXNS^S]KV]Y^ROMK]O^RK^^RONO]S\KLSVS^cYPK]MRYYVS]\OVK^ON WKSX]^\OKW ]MRYYVSXQ PY\ 7KY\S PKWSVSO] KXN K\O KX SXNSMK^SYX YP ^RO ^Y O^RXSMS^c >RO Y`O\]_L]M\SLON ]MRYYV] KXN ^RO\OPY\O ^RO WY]^ NO]S\O Lc WKXc 7KY\S ZK\OX^] PY\ KX ON_MK^SYXKV MYX^Ob^ aRSMR ^ROc NO]S\KLVO SX ^RO WK\UO^] ]^_NSON aO\O KV]Y ^RY]O aS^R ^RO VYaO]^ LOVSO`OS]KLVO^YZ\Y`SNOLY^RKMKNOWSMKMRSO`OWOX^KXNKM_V^_\KVVc Z\YZY\^SYX]YPXYX:KUORK]^_NOX^] KZZ\YZ\SK^OOX`S\YXWOX^ARSVOWKXcYP^RO]OPKWSVSO]RKNKMMO]]^YK +V^RY_QR Y_\ NK^K NY XY^ OXKLVO _] ^Y ObKWSXO ^RO \OK]YX] aRc VYMKV ]MRYYV aRSMR RKN K RSQR ZO\MOX^KQO YP 7KY\S ]^_NOX^] KXN RKN ZK\OX^]MRYY]OZK\^SM_VK\]MRYYV]\O]OK\MRLcAOVV]##]_QQO]^]^RK^ LOOXWKUSXQKXSXM\OK]SXQOPPY\^^YLOLSM_V^_\KV^RS]]MRYYVWKcXY^ ^RO \K^SYXKVO PY\ MRYSMO] aSVV NSPPO\ aS^RSX O^RXSM Q\Y_Z] AOVV] RK`O LOOX ZO\MOS`ON K] KMMY\NSXQ ^Y S^] ]^_NOX^] ^RO ]KWO VO`OV] YP SX^O\`SOaON!+P\SMKX+WO\SMKXRSQR]MRYYV]^_NOX^]KXNYP^ROS\ KMRSO`OWOX^ K] K LYK\NSXQ ]MRYYV >RO]O ZK\OX^] K]]O]]WOX^] YP ^RO ZK\OX^]KXNQ\KXNZK\OX^]KLY_^^ROS\MRYSMOYP]MRYYV=ROMYXMV_NON$ LOXOPS^] YP7KY\SLYK\NSXQ]MRYYV]S]MYX]S]^OX^aS^R^RY]OYP,OX^YX +XN ^RO aRSVOLY^R\KMOKXNMVK]]KPPOM^]^_NOX^]RKLS^_]KXN^RO\OPY\O aKc ^ROc ZO\MOS`O ]MRYYV MRYSMO YZZY\^_XS^SO] XY^ KVV VYaSXMYWOWSXY\S^c]^_NOX^]KXNZK\OX^]aSVV\OKM^^RO]KWOaKc =YWOaSVVKM^S`OVc]OOUY_^]MRYYV]^RK^^ROcLOVSO`OaSVVROVZ^ROW #"!aROXROXY^O]^RK^$Z\O]OXMOK^K7KY\SLYK\NSXQ]MRYYVaK] YXOYP]O`O\KVPKM^Y\]S]YVK^ONK]RK`SXQZY]S^S`OOPPOM^]YXKMRSO`OWOX^ KWYXQ]OMYXNK\c]^_NOX^]SXAKSUK^YZ 3^ S] SWZY\^KX^ ^Y XY^O RYaO`O\ ^RK^ ^RO O]^KLVS]RWOX^ YP ^RO]O ^Y K^^KSX RSQRO\ ]^K^_]% Y^RO\] aRY POK\ MYWZO^S^SYX Y\ PKSV_\O SX K ]MRYYV]Z\OObS]^ON^ROM_\\OX^WK\UO^MYX^Ob^+^Z\O]OX^^RO\OK\OXY RSQR]^K^_]]MRYYVKXN^RY]OaRYRK`OVY]^PKS^RSX^ROON_MK^SYXKV ]_MRKV^O\XK^S`O]K`KSVKLVOPY\^ROQ\YaSXQX_WLO\]YP:KMSPSM3]VKXN] ]c]^OWaSVVLOWY]^VSUOVc^YMRYY]OXY^^YMRYY]OZ ]^_NOX^]KXNS^S]NSPPSM_V^^Y]OORYa^ROM_\\OX^WK\UO^MYX^Ob^MKX ]^SW_VK^O]_MRSXS^SK^S`O] 0Y\Q\Y_Z]aRSMRRK`OLOOX^\KNS^SYXKVVcObMV_NONP\YW^ROLOXOPS^]YP +^ ^RO SXNS`SN_KV VO`OV ^ROX aO RK`O LOOX KLVO ^Y ]RYa ^RK^ ^RO ^ROPY\WKVON_MK^SYX]c]^OW]_MR`K\SON\O]ZYX]O]K\OXY^]_\Z\S]SXQ KLSVS^c ^YObO\MS]OMRYSMOYP]MRYYVS]XY^NS]^\SL_^ONO[_KVVcKM\Y]]KVV KXNSXNOONRK`OKV]YLOOXSNOX^SPSONSX^ROVS^O\K^_\OaS^R\O]ZOM^^Y O^RXSMQ\Y_Z]:KUORKPKWSVSO]K\O^ROWY]^VSUOVc^YLOKLVO^YK^^OXN aY\USXQMVK]]]^_NOX^],\YaX#"!%6K_NO\O^KV##-VOK\VcMRYSMO ^ROS\ Z\OPO\\ON ^cZO YP ]MRYYV >RS] S] XY^ ]SWZVc K WK^^O\ YP aS^RSX^ROMYX^Ob^YPK]c]^OW^RK^RK]LOOXObMV_]SYXK\cS]VSUOVc^YLO ]YMSYQOYQ\KZRc ARO\O ^RO Z\OPO\\ON ]MRYYV S] KLVO ^Y YZO\K^O KX RSQRVcZ\YLVOWK^SMPY\^RY]OaRYRK`OLOOXNS]KN`KX^KQONLcS^KXN OX\YVWOX^]MROWOKXN]OVOM^]^_NOX^]^RY]OP\YW:KUORKPKWSVSO]K\O K_XSPY\W\K^SYXKV\O]ZYX]OSX^RO^O\W]Z\ONSM^ONLc^ROXOYMVK]]SMKV WY]^ VSUOVc^YLO]OVOM^ONO`OXKP^O\KLSVS^cSX^ROPY\WYPWOKX:+> OMYXYWS]^]S]RK\NVc^YLOObZOM^ON >]MY\O]KXN=/=RK`OLOOXMYX^\YVVONPY\ 2YaO`O\ ^RO ]ZOMSPSM \KXQO YP \O]ZYX]O] ^RK^ ObMV_NON Q\Y_Z] WKUOaSVVLONO^O\WSXONLc^ROS\RS]^Y\cKXNM_V^_\OAS^R^RS]SXWSXN aO\O`S]S^ON^RO]_L]KWZVOYP7KY\SKXN:KUORKZK\OX^]SXYXO_\LKX MOX^\OaRYaO\OSX^O\`SOaONSXNO^KSVKLY_^^ROS\]MRYYVMRYSMOSX## aROX^ROS\MRSVN\OXaO\OSX0Y\W>RS\^c]Sb7KY\SZK\OX^]KXN :KUORKZK\OX^]aO\OSX^O\`SOaON ARSVO^ROX_WLO\]K\O]WKVVYXO\O]_V^^RK^OWO\QONaK]^RK^ ZO\MOX^ YP 7KY\S ]KSN ^ROc aO\O MYX]SNO\SXQ ]OXNSXQ ^ROS\ MRSVN ^Y K MR_\MR\OVK^ON LYK\NSXQ ]MRYYV 0_\^RO\WY\O SX :KUORK ^O\W] ^RO WKTY\S^c YP ^RO]O aO\O P\YW VYaO\ =/= LKMUQ\Y_XN] KV^RY_QR ^ROS\ ]^K^_]WKcLOK]]O]]ON[_S^ONSPPO\OX^VcaS^RSX^RO7KY\SMYWW_XS^c 3X MYX^\K]^ VO]] ^RKX ^aY ZO\MOX^ YP :KUORK ZK\OX^] ]KSN ^ROc aO\O MYX]SNO\SXQLYK\NSXQ]MRYYV] 9_\NK^K]_QQO]^^ROZY]]SLSVS^c^RK^^RO]OLYK\NSXQ]MRYYV]WY]^ YP aRSMR K\O 7KY\S SX MRK\KM^O\ Z\Y`SNO KX SWZY\^KX^ KV^O\XK^S`O ^Y >RO-YWZY]S^SYX.K^K +]aOVVK]MYVVOM^SXQNK^KP\YW^RO]^_NOX^]KXNZK\OX^]MK\OQS`O\]SX Y_\MYRY\^aORK`OKV]YLOOXMYVVOM^SXQNK^KYX^RO0Y\WSX^KUO]YP ]OMYXNK\c]MRYYV]SXYXO8OaDOKVKXNMS^caRSMRaORK`OXKWON 1\OOX -S^c >RS] RK] LOOX ^O\WON ^RO MYWZY]S^SYX NK^K KXN S^ RK] OXKLVON ^RO ^\KMUSXQ YP ^RO SWZKM^ YP ^RO \OWY`KV YP dYXSXQ YX ^RO SX^KUOMRK\KM^O\S]^SM]YP^RO]O]MRYYV]=_MRNK^KK\OK`KSVKLVOP\YW## ^ROcOK\Z\SY\^Y^RO\OWY`KVYPdYXSXQ^R\Y_QR^Y## >RS]MYWZY]S^SYXNK^K]O^RK]OXKLVON_]^YZVKMO^RONK^KP\YWY_\ MYRY\^ SX^Y K VK\QO\ MYX^Ob^ KXN SWZY\^KX^Vc ^Y ^\KMU ^RO OPPOM^ ^RK^ SXNS`SN_KVKM^SYX]aS^R\O]ZOM^^Y]MRYYVMRYSMORK`OYX^RO]RKZOYP^RO ON_MK^SYXWK\UO^>RO\OVK^SYX]RSZS]XY^VSXOK\RYaO`O\KXNS^S]MVOK\ ^RK^^RO]OVOM^SYX^RK^S]_XNO\^KUOXLc]MRYYV]KPPOM^]^ROMRYSMO]WKNO LcZK\OX^]KXN]^_NOX^] /^RXSMS^cKXN=MRYYV-RYSMO =_OAK^]YXO^KV >RO PS\]^ KXKVc]S] aO _XNO\^YYU aK] ^Y ^\KMU ^RO WY`OWOX^] YP 9_\ NK^K KVVYa _] ^Y ^KUO XOSQRLY_\RYYN MRK\KM^O\S]^SM] SX^Y ]^_NOX^]^YY\KaKcP\YW^ROS\VYMKV]MRYYV>YNY^RS]YXKXK\OKLc KMMY_X^^YWYXS^Y\^\OXN]LY^RaS^RSXKXNLO^aOOX]_L_\L]3XY\NO\ K\OKLK]S]^RONSPPO\OX^]MRYYV]aO\OMK^OQY\S]ONK]LOSXQOS^RO\VYMKV ^Y PYM_] YX OX\YVWOX^ Z\YMO]]O] PY\ K QS`OX \O]SNOX^SKV K\OK OKMR KNTKMOX^Y\NS]^KX^=MRYYV]aO\OMYX]SNO\ONVYMKVaROX]^_NOX^]VS`ON ]^_NOX^]=/=aK]MYWZK\ON^Y^ROWOKX=/=YP^ROXOSQRLY_\RYYN^RO aS^RSX^ROY\SQSXKV##dYXOLY_XNK\SO]YP^RO]MRYYV=MRYYV]aRSMR ]^_NOX^VS`ONSX^YQS`OKWOK]_\OaO^O\WON\OVK^S`O=/=+ZY]S^S`O aO\OMVOK\VcXY^^ROVYMKV]MRYYVKXNPY\aRSMR^\K`OVaK]\O[_S\ONaO\O \OVK^S`O=/=SXNSMK^O]^RK^^RO]^_NOX^S]YPRSQRO\=/=^RKX^cZSMKVPY\ MYX]SNO\ONKNTKMOX^>YQO^^YNS]^KX^]MRYYV]]^_NOX^]LcZK]]ON^ROS\ ^ROXOSQRLY_\RYYNSXaRSMRROY\]ROVS`O]%KXOQK^S`O\OVK^S`O=/= VYMKV]MRYYVKXNK^VOK]^YXOY^RO\SXKaKc^RK^SX`YV`ONMYX]SNO\KLVO SXNSMK^O] ^RK^ ^RO ]^_NOX^ S] YP VYaO\ =/= ^RKX ^cZSMKV PY\ ^RO ^\K`OV XOSQRLY_\RYYNAROXMKVM_VK^SXQ\OVK^S`O=/=^ROWOKX=/=YPOKMR 3X ## RSQRO\ ZO\MOX^KQO] YP 7KY\S ]^_NOX^] !# ZO\MOX^ KXN :KMSPSM3]VKXN]^_NOX^]"ZO\MOX^K^^OXNONVYMKV]MRYYV]^RKXOS^RO\ :KUORK]^_NOX^]!ZO\MOX^Y\9^RO\]^_NOX^]! XOSQRLY_\RYYN aK] MYWZ_^ON YX K cOK\LccOK\ LK]S] ^Y OX]_\O ^RO Q\OK^O]^ZY]]SLVOKMM_\KMc ZO\MOX^2YaO`O\ 9_\ KXKVc]S] ]RYaON ^RK^ ^RO \OVK^S`O =/= YP ]^_NOX^] K^^OXNSXQ Lc##KN\KWK^SMMRKXQORKN^KUOXZVKMOaS^RZ\YZY\^SYXKVVcPOaO\ VYMKV ]MRYYV] aK] MYX]S]^OX^Vc VYaO\ ^RKX ^RK^ YP ]^_NOX^] K^^OXNSXQ 7KY\S]^_NOX^] ZO\MOX^XYa KNTKMOX^ Y\ NS]^KX^ ]MRYYV] >RS] SXNSMK^ON ^RK^ VYMKV ]MRYYV] aO\O K^^OXNSXQ^ROS\VYMKV]MRYYV]-Y\\O]ZYXNSXQPSQ_\O]PY\:KUORK]^_NOX^] ZO\MOX^KXN:KMSPSM3]VKXN]^_NOX^] MYX]S]^OX^VcZYZ_VK^ONLc]^_NOX^]aRY]OPKWSVSO]RKNVYaO\=/=^RKX aO\O ZO\MOX^>RS]\OZ\O]OX^]K Y^RO\] SX ^ROS\ XOSQRLY_\RYYN] 3X MYX^\K]^ ]^_NOX^] aRY K^^OXNON N\YZYPKLY_^ZO\MOX^SX7KY\SKXN:KMSPSM3]VKXN]]^_NOX^]K^^OXNSXQ KNTKMOX^Y\NS]^KX^]MRYYV]aO\OP\YWPKWSVSO]aRSMRRKN\OVK^S`OVcRSQR ^ROS\ VYMKV ]MRYYV MYWZK\ON aS^R K N\YZ YP KZZ\YbSWK^OVc RKVP ^RS] =/=SXMYWZK\S]YXaS^R^ROS\XOSQRLY_\RYYN]>RO\OPY\OSXMYX^\K]^^Y KWY_X^ PY\ :KUORK KXN 9^RO\ ]^_NOX^] >RO ZO\MOX^KQO] K^^OXNSXQ ^RO ZSM^_\O Z\O]OX^ON aROX aO VYYUON YXVc K^ ^RO =/= YP SXNS`SN_KV NS]^KX^]MRYYV]]RYaONVS^^VOMRKXQOY`O\^RO^SWOMY`O\ONLc^RO]^_Nc ]^_NOX^]YXMO^ROS\XOSQRLY_\RYYN=/=aK]^KUOXSX^YKMMY_X^S^aK] L_^^ROZO\MOX^KQO]K^^OXNSXQKNTKMOX^]MRYYV]SXM\OK]ON]^OKNSVc ^RO\OVK^S`OVcaOVVYPP]^_NOX^]aRYK^^OXNONKNTKMOX^]MRYYV]KP^O\##% !ZO\MOX^KXNPY\9^RO\]^_NOX^] +^PKMO`KV_O^RO]OPSQ_\O]aY_VN]OOW^YSXNSMK^O^RK^7KY\SKXN ^RY]O\OVK^S`OVcaY\]OYPPaO\OWY]^VSUOVc^YQY^Y^ROS\VYMKV]MRYYV :KMSPSM3]VKXN]^_NOX^]K\O^KUSXQKN`KX^KQOYP^ROXOaVOQS]VK^SYX^YK 3^KZZOK\]^ROX^RK^NOdYXSXQRK]XY^SXM\OK]ON^ROVSUOVSRYYN^RK^ Q\OK^O\NOQ\OO^RKX:KUORKKXN9^RO\]^_NOX^]2YaO`O\^RO]S^_K^SYX ]^_NOX^] aRY K\O \OVK^S`OVc aY\]OYPP SX MYWZK\S]YX aS^R ^ROS\ S] MYWZVOb KXN YXMO ^RO ]YMSYOMYXYWSM LKMUQ\Y_XN YP ^RO ]^_NOX^] XOSQRLY_\RYYN aSVV K^^OXN XYXVYMKV ]MRYYV] >RS] PSXNSXQ S] RSQRVc KXN^RO]YMSYQOYQ\KZRcYPNSPPO\OX^]MRYYVMK^MRWOX^]K\OMYX]SNO\ON ]SQXSPSMKX^]SXMOS^_XNO\WSXO]^ROLOVSOP^RK^^RY]O]^_NOX^]aRYRKN SXNO^KSVKWY\OMYWZVO^OZSM^_\OOWO\QO] ^\KNS^SYXKVVcLOOXWY]^NS]KN`KX^KQONLcdYXSXQaY_VNLOXOPS^WY]^ AO PY_XN ^RK^ ^RY]O aRY K^^OXNON NS]^KX^ ]MRYYV] MYX]S]^OX^Vc P\YWS^]\OWY`KV MKWOP\YWRSQRO\=/=RYWO]^RKX^RY]OaRYK^^OXNONVYMKVY\KNTKMOX^ ]MRYYV] 2YaO`O\ aS^R ^RO ObMOZ^SYX YP ^RO cOK\ ## ]^_NOX^] K^^OXNSXQKNTKMOX^]MRYYV]MKWOP\YW^ROVYaO]^WOKX=/=RYWO] 3^KZZOK\]^ROX^RK^NOdYXSXQRK]SXM\OK]ON^ROX_WLO\YPVYaO\ =/=]^_NOX^]K^^OXNSXQKXKNTKMOX^]MRYYV2YaO`O\^RO]OPSQ_\O]NY XY^^KUOSX^YKMMY_X^^ROPKM^^RK^]^_NOX^]VS`SXQMVY]O^Y]MRYYV]aS^R QYYN\OZ_^K^SYX]RK`OXY\OK]YX^YLcZK]]^ROWKXNYPMY_\]O^RO]O ]MRYYV]^OXN^YLOSX^RORSQRO\]YMSYOMYXYWSMK\OK]+]aO]RYaONSX Y_\ PS\]^ MYWZY]S^SYX \OZY\^ 6K_NO\ O^ KV ## ^RO WY\O ZO\^SXOX^ S]]_O^YKNN\O]]S]aRO^RO\^RO\OK\OO^RXSMY\=/=NSPPO\OXMO]SX^RO Z\YZOX]S^c ^Y Z_\]_O OX\YVWOX^ YZ^SYX] aS^RSX ^RO ]KWO K^^OXNKXMO K\OK7KNNK_]##Z"3^S]^Y^RS]S]]_O^RK^aOXYa^_\X ARS^O0VSQR^KXN,\YaX0VSQR^ >RS] WY`OWOX^ KaKc P\YW ]YWO VYMKV MYVVOQO] RK] QS`OX \S]O ^Y K ZROXYWOXYXaRSMRRK]LOMYWOUXYaXK]aRS^OKXNL\YaXPVSQR^ >RS] \OPO\] ^Y ^RO WY`OWOX^ YP :KUORK KXN ]YWO :KMSPSM 3]VKXN] KXN 7KY\S]^_NOX^]KaKcP\YW^ROS\VYMKVaY\USXQMVK]]]MRYYV]^YKNTKMOX^ Y\ NS]^KX^ ]MRYYV] aS^R RSQRO\ Z\YZY\^SYX] YP :KUORK ]^_NOX^] >RO \OK]YX]PY\^RS]WY`OWOX^K\O^RO]_LTOM^YPMYXTOM^_\O]SXMOS^S]`O\c NSPPSM_V^^YMYVVOM^[_KVS^K^S`ONK^KKLY_^^RO\OK]YX]PY\]MRYYVMRYSMO 3X Y_\ ObZO\SOXMO ZK\OX^] KXN ]^_NOX^] QS`O K \KXQO YP KZZK\OX^Vc MYX^\KNSM^Y\c\OK]YX]PY\^ROS\MRYSMO]aRSMRK\OXY^OK]SVcZ\SY\S^S]ON >RS]WKcLOLOMK_]O]MRYYVMRYSMOS]KMYWZVObZ\YMO]]aRSMRRK]K] /^RXSMS^cKXN=MRYYV-RYSMO =_OAK^]YXO^KV W_MR ^Y NY aS^R ]_MR ^RSXQ] K] SNOX^S^c K] S^ RK] ^Y NY aS^R Z_\OVc aO\O KLVO ^Y YZO\K^O OX\YVWOX^ ]MROWO] KXN ]Y MYX^\YV ^ROS\ O^RXSM ON_MK^SYXKV MYXMO\X] 1Y\NYX ## SX KX Y`O\`SOa YP \O]OK\MR YX WSb2YaO`O\^ROMK]O]^_Nc]MRYYVNO]M\SLONKLY`OaK]XY^KLVO^Y ]MRYYVMRYSMOSX +Y^OK\YK8OaDOKVKXNMYXMV_NON^RK^ZK^^O\X]YP YZO\K^OKXOX\YVWOX^]MROWOKXN^R_]RKN^Y^KUOKVVMYWO\]>RO ]MRYYVMRYSMOK\ONS\OM^Vc\OVK^ON^Y^ROMVK]]KXNO^RXSMMRK\KM^O\YP^RO OPPOM^YP^RS]aRS^OPVSQR^Y_^YPAOUK-YVVOQOKXNL\YaXPVSQR^SXRK] K\OKSXaRSMR]MRYYV]K\OVYMK^ONZ LOOX^YN\KWK^SMKVVcKV^O\^ROO^RXSMKXN=/=MYWZY]S^SYXYP^RO]MRYYV 3^ NYO] ]OOW ^RK^ ^RO O^RXSM KXN =/= WSb YP ^RO ]MRYYV S] KX KXNRK]^ROS\YXSMMYX]O[_OXMOYP^R\OK^OXSXQKXcKN`KX^KQO^RO]MRYYV SWZY\^KX^MYX]SNO\K^SYXPY\WKXcZK\OX^]SX^ROS\MRYSMOYP]MRYYV>RS] WKcRK`OLOOXKLVO^YYPPO\`SK^RO]MRYYVWSbOPPOM^0_\^RO\WY\O S]ZO\RKZ]LO]^SVV_]^\K^ONLc^ROObZO\SOXMOYPYXOYP^RO]MRYYV]SXY_\ ^ROOPPOM^YPL\YaXPVSQR^SX^Y^RS]]MRYYVRK]LOOXNO`K]^K^SXQYX^RO ]^_Nc aRSMR aO XKWON AOUK -YVVOQO AOUK -YVVOQO S] _XS[_OVc ]MRYYV] aRSMR ^\KNS^SYXKVVc Z\Y`SNON PY\ ^RO]O ]^_NOX^] AROX ^RO ZY]S^SYXON LO^aOOX K aY\USXQ MVK]] K\OK aS^R K RSQR ZO\MOX^KQO YP \OVK^S`OVcKN`KX^KQON:KMSPSM3]VKXNKXN7KY\S]^_NOX^]VOP^^RO=/=WSb 7KY\SKXN:KMSPSM3]VKXN]^_NOX^]KXNKaRS^OWSNNVOMVK]]K\OK3X## YPYXOYP^RO]MRYYV]KNTKMOX^^YAOUK-YVVOQON\YZZONP\YWSX#"# Z\SY\ ^Y ^RO \OWY`KV YP dYXSXQ T_]^ Y`O\ RKVP YP ^RO ]^_NOX^] SX ^RO ^Y#SX## ]MRYYVaO\O:KUORKaS^RKVWY]^K[_K\^O\LOSXQ7KY\SKXN^RO]KWO Z\YZY\^SYXMYWSXQP\YW:KMSPSM3]VKXNPKWSVSO]>RO]MRYYVRKNKWOKX =/=YP!YX^RO`O\]SYXYP^RO/VVOc3\`SXQ=/=SXNOb_]ONaRO\O SXNSMK^ON^RORSQRO]^=/=KXN!^ROVYaO]^,c##aRSVO^ROKM^_KV X_WLO\] YP ]^_NOX^] RKN MRKXQON `O\c VS^^VO ^RO MYWZY]S^SYX YP ^RO SX^KUOMVOK\VcRKN,c##7KY\S:KMSPSM3]VKXN]KXN:KUORK]^_NOX^] OKMRMYWZ\S]ONKZZ\YbSWK^OVcYXO^RS\NYP^RO0Y\WSX^KUOKXN^RO WOKX =/= RKN N\YZZON ^Y >RO\O aO\O ]O`O\KV \OK]YX] PY\ ^RS] MRKXQOSXMYWZY]S^SYX6K_NO\O^KV##0S\]^Vc^RO\OaK]KLOVSOP KWYXQ]^WKXc:KMSPSM3]VKXNZK\OX^]^RK^^ROS\MRSVN\OXaY_VNNYLO^^O\ K^]MRYYV]aS^RKQ\OK^O\Z\YZY\^SYXYP:KUORK]^_NOX^]=OMYXNVcK] ^ROXYX:KUORK\YVVSXM\OK]ON:KUORKOX\YVWOX^]NOMVSXONWK\UONVc >ROZ\SXMSZKVYPAOUK-YVVOQORKNVS^^VONY_L^^RK^^ROaRS^OPVSQR^^RK^ PYVVYaON^ROSXM\OK]ON7KY\SKXN:KMSPSM3]VKXNOX\YVWOX^]RKNLY^R \KMSKV KXN ]YMSYOMYXYWSM NSWOX]SYX] +MMY\NSXQ ^Y ^RO Z\SXMSZKV \KMS]W ZVKcON K ZK\^ SX ^RS] aRS^O PVSQR^ ]Y ^RK^ SP RO aK] ^Y UOOZ KX O^RXSMKVVc aOVV LKVKXMON ]MRYYV AO XOON ^Y LO KLVO ^Y NOWYX]^\K^O ^RK^ aO K\O XY^ QYSXQ ^Y LO Y`O\\_X Lc JLVKMU] :\SXMSZKV AOUK -YVVOQO >RS]ObKWZVO\KS]O]SWZY\^KX^S]]_O]KLY_^^RO\OVK^SYX]RSZLO^aOOX ]MRYYV WSb KXN ]^_NOX^ KMRSO`OWOX^ 1S`OX ^RK^ ^RO\O S] K MVY]O \OVK^SYX]RSZ LO^aOOX O^RXSMS^c KXN ]MRYYV KMRSO`OWOX^ WY`SXQ ^Y K ]MRYYVaS^RK\OVK^S`OVcRSQRZO\MOX^KQOYP:KUORK]^_NOX^]WKcLOK ]^\K^OQc aRSMR S] VSUOVc ^Y SWZ\Y`O KMRSO`OWOX^ PY\ ]YWO ]^_NOX^] 2YaO`O\ SP ^RO ZYZ_VK\S^c YP K ]MRYYV S] VK\QOVc NO^O\WSXON Lc ^RO X_WLO\YP:KUORK]^_NOX^]aRYK^^OXNS^^ROXS^S]XY^SX^ROSX^O\O]^] YP ^RO ]MRYYV ^Y KMMOZ^ VK\QO X_WLO\] YP XYX:KUORK ]^_NOX^] >RO ]MRYYV]SX^RO]KWZVOaS^R^RORSQRO]^ZO\MOX^KQOYP:KUORK]^_NOX^] <OPVOM^SYX +^ ^RS] ZYSX^ S^ S] aY\^R ]^OZZSXQ LKMU KXN ^RSXUSXQ Y`O\ aRK^ ^RS] WY`OWOX^ LO^aOOX ]MRYYV] S] KLY_^ :\O]_WKLVc S^ S] LK]ON YX ^RO K]]_WZ^SYX^RK^]YWO]MRYYV]K\OLO^^O\^RKXY^RO\]Y\SP^ROcK\OXY^ KM^_KVVcLO^^O\^RK^^ROcNSPPO\SX]SQXSPSMKX^aKc]3PS^S]^ROMK]O^RK^ ^RO\OS]K\OKVNSPPO\OXMOSX[_KVS^cYPON_MK^SYXKVZ\Y`S]SYXY`O\KXN KLY`O ^RK^ aRSMR S] NO^O\WSXON Lc ^RO ]MRYYV WSb OPPOM^ aRSMR WY]^ ]MRYYV]RK`OVS^^VOMYX^\YVY`O\^ROX^RO\OS]K]^\YXQMK]O^YLOWKNOPY\ PKMSVS^K^SXQWY`OWOX^YP]^_NOX^]LO^aOOX]MRYYV]3PRYaO`O\^RO\OS] `O\cVS^^VONS`O\]S^cSX^O\W]YP[_KVS^cY\^cZO^ROXaORK`O^YK]UaRK^ S^S]^RK^ZK\OX^]KXN]^_NOX^]K\OKM^_KVVcMRYY]SXQaROX^ROcMRYY]O K ]MRYYV AO KV]Y RK`O ^Y K]U aRK^ ^RO Y`O\KVV ]YMSKV OPPOM^] K\O YP K ZYVSMc^RK^PKMSVS^SO]^ROWY`OWOX^YP\OVK^S`OVcKN`KX^KQON]^_NOX^] KXNaRSMROXKLVO]^RY]O]MRYYV]aS^R^RORSQRO]^ZO\MOX^KQOYP:KUORK WSNNVOMVK]] ]^_NOX^] ^Y ObO\MS]O ObMV_]SYX 3P ^RO]O K\O ^RO LO]^ ]MRYYV]aOW_]^K]UaRc^ROcK\OLO]^KXNPY\aRYW^ROcK\OLO]^ <O]OK\MRLc2K\UO\KXN8K]R## SX^RO:\YQ\O]]K^=MRYYV]^_Nc Z\Y`SNO][_KX^S^K^S`ONK^KObKWSXSXQ^ROKLSVS^cYP]MRYYV]^YKMRSO`O MO\^KSXKMKNOWSMY_^MYWO]3XKVV^R\OO]_LTOM^]EWK^ROWK^SM]]MSOXMO KXN/XQVS]RGKLY_^^aY^RS\N]YP^ROLO^aOOX]MRYYV`K\SKXMOMKXLO KMMY_X^ON PY\ Lc ^RO MRK\KM^O\S]^SM] YP ^RO ]^_NOX^] SX K^^OXNKXMO Z"3XY^RO\aY\N]^RO]MRYYV]aRSMRKZZOK\WY]^ ]_MMO]]P_VSX Q\Y]]WOK]_\O]YPZ\YN_M^S`S^cK\O]_MMO]]P_VLOMK_]OYP^ROS\\OVK^S`OVc RSQR =/= WSb \K^RO\ ^RKX ON_MK^SYXKV Z\YMO]]O] ZO\ ]O ARO\O SXNS`SN_KV ]^_NOX^] P\YW VYa =/= LKMUQ\Y_XN] K^^OXN ]_MR ]MRYYV] 2K\UO\ KXN 8K]R ]_QQO]^ ^RK^ ^ROS\ ZO\PY\WKXMO WKc LO SWZ\Y`ON 2YaO`O\^ROcKV]YMYX]SNO\aRK^OPPOM^^RO!]MRYYV]SX^ROS\]^_Nc /^RXSMS^cKXN=MRYYV-RYSMO =_OAK^]YXO^KV aO\OKLVO^YRK`OYX]^_NOX^KMKNOWSMKMRSO`OWOX^YXMO^RO]^_NOX^ \O]OK\MRS]LOQSXXSXQ^Y]RYa^RK^]MRYYV]aRSMRRK`OLOOXRK\NO]^RS^ WSbYP^RO]MRYYVaK]MYX^\YVVONPY\>ROcPY_XN^RK^YXVcYXO^RS\NYP Lc^ROSWZKM^YPWK\UO^S]K^SYXK\O^RY]OaRSMRK\OaY\USXQSXM\OK^S`O ^ROLO^aOOX]MRYYV`K\SKXMOMY_VNLOObZVKSXONLc^ROOPPOM^]YPaS^RSX MYYZO\K^S`OaKc]^YKNN\O]]^ROXOON]YP^RO7KY\SKXN:KMSPSM3]VKXN] ]MRYYV Z\YMO]]O] ]_MR K] ZONKQYQc KXN M_\\SM_V_W 2YaO`O\ ]YWO MYWW_XS^SO]^ROc]O\`O>RO^\KQONcS]^RK^^RO]O]MRYYV]K\O^ROWY]^ ]MRYYV]aRSMR]MY\ONZYY\VcSX^O\W]YPQ\Y]]Z\YN_M^S`S^caO\O`O\c ZYY\Vc \O]Y_\MON AO UXYa YP YXO .OMSVO ]MRYYV aRSMR \KS]ON T_]^ ]_MMO]]P_VSXZ\YWY^SXQKMKNOWSMKMRSO`OWOX^0Y\ObKWZVOYXOYP^RO SXZ\S`K^OP_XNSXQSX^Y^KVSX^ROVK]^PSXKXMSKVcOK\SXMYX^\K]^^YK ]MRYYV]SX^ROS\]^_NcRKNKRSQRZO\MOX^KQOYP]^_NOX^]P\YWVYa=/= .OMSVO]MRYYVaRSMRMRK\QO]^RO]KWOKWY_X^SX]MRYYVPOO]PY\O`O\c LKMUQ\Y_XN] KXN ]MY\ON ZYY\Vc YX Q\Y]] KMRSO`OWOX^ WOK]_\O] ]^_NOX^ KXN aRSMR \KS]O] ^RY_]KXN] WY\O SX P_XN\KS]SXQ >RO O[_S^c 2YaO`O\YXMO^RO]^_NOX^WSbYP^RO]MRYYVaK]MYX^\YVVONPY\2K\UO\ P_XNSXQZ\Y`SNONLc^RO]^K^O^Y^RO.OMSVO]MRYYVSXXYaKcWK^MRO] KXN8K]R]RYa^RK^^RO]MRYYVS]NYSXQKLO^^O\TYL^RKXWKXc]MRYYV] ^RS] KWY_X^ ,OMK_]O YP ^RO \OVK^SYX]RSZ LO^aOOX O^RXSMS^c ]YMSY aS^RKW_MRWY\OJPK`Y_\KLVOZ_ZSVWSbZ OMYXYWSM]^K^_]KXN]MRYYVKMRSO`OWOX^S^S]OK]c^Y]OOaRYaSVVLO 2K\UO\KXN8K]R MYXMV_NOLc\OMYWWOXNSXQ^RK^O[_KVS]SXQ^RO T_NQON^ROLO^^O\]MRYYVSX^ROKMRSO`OWOX^]^KUO] =/= WSb YP ]MRYYV SX^KUO] aY_VN MYX^\SL_^O ^Y O[_KVS]SXQ KMKNOWSM 3^S]Y_\`SOa^RK^^ROVSWS^ONNS`O\]S^cYPZ\Y`S]SYX^RK^ObS]^]SX Y_^MYWO],OMK_]O=/=S]]YMVY]OVcVSXUON^YO^RXSMS^caOKV]YXOON^Y ^RO]MRYYVSXQ]c]^OWRK]XY^LOOXQOXO\K^ONLc^ROMYWZO^S^SYX^RK^ MYX]SNO\^ROSWZVSMK^SYX]YPWY`OWOX^]LO^aOOX]MRYYV]PY\7KY\SKXN MRYSMOZYVSMSO]KSWON^YZ\YWY^O3XNOONS^WKcWSVS^K^OKQKSX]^S^9X :KMSPSM 3]VKXN] ]^_NOX^] >RO OWY^S`O KXN MK^MRc ZR\K]O aRS^O KXN ^ROYXORKXN]MRYYV]aS^RKRSQR=/=WSbNYXY^RK`O^YMYWZO^OPY\ L\YaXPVSQR^S]SXNKXQO\YPYL]M_\SXQWY\OSWZY\^KX^S]]_O]\OVK^SXQ ]^_NOX^] KXN K\O KLVO ^Y ObO\MS]O K RSQR NOQ\OO YP MYX^\YV Y`O\ ^ROS\ ^YO^RXSMS^cKXN]MRYYVZ\Y`S]SYX>ROSWZVSMK^SYX^RK^VK\QOX_WLO\]YP SX^KUO]9X^ROY^RO\RKXN]MRYYV]aRSMR]O\`OMYWW_XS^SO]aS^RVK\QO \OVK^S`OVcKN`KX^KQON 7KY\S KXN :KMSPSM 3]VKXN] ]^_NOX^] K\O WY`SXQ X_WLO\]YP7KY\SKXN:KMSPSM3]VKXN]]^_NOX^]RK`OLOOXRK\NO]^RS^Lc KaKcP\YW]MRYYV]aS^RRSQRZ\YZY\^SYX]YP^RO]O]^_NOX^]^Y]MRYYV] MYWZO^S^SYX >ROc K\O XY^ SX ^RO L_]SXO]] YP MYWZO^SXQ PY\ ]^_NOX^]% aS^R RSQRO\ Z\YZY\^SYX] YP :KUORK ]^_NOX^] WKc SWZVc ^RK^ ]MRYYV] ^ROcRK`O^RO^K]UYPaY\USXQaS^RKXNPY\^RY]O]^_NOX^]aRYK\OXY^ aS^R RSQR Z\YZY\^SYX] YP :KUORK ]^_NOX^] K\O LO]^ KLVO ^Y WOO^ ^RO KLVO^YMYWZO^OSX^ROON_MK^SYXWK\UO^ZVKMO0\YW^RS]ZO\]ZOM^S`O XOON]YP7KY\SKXN:KMSPSM3]VKXN]]^_NOX^]7KXcNOMKNO]YP\O]OK\MR ^RO O^RXSM ZYVK\S]K^SYX YP ]MRYYV SX^KUO] WSQR^ LO ]OOX ^Y LO KXNObZO\SOXMOLc7KY\SRK`OMVOK\Vc]RYaX^RK^^RS]S]XY^^ROMK]O KN`KX^KQOY_]SPS^WOKX^^RK^]^K^O]MRYYV]aO\OKLVO^YNO`OVYZZYVSMSO] ARSVO S^ WKc LO ^\_O ^RK^ ]YWO 7KY\S ]^_NOX^] WKc RK`O ^ROS\ KXN Z\KM^SMO] aS^RSX aRSMR 7KY\S MY_VN POOV M_V^_\KVVc ]KPO aS^R K KMRSO`OWOX^Z\YWY^ONLcK^^OXNSXQ]MRYYV]aS^RKRSQR=/=WSb^RS] \O]_V^SXQ ]OX]O YP SXM\OK]ON ON_MK^SYXKV ]OVPO]^OOW KXN LO^^O\ S] XY^ ]Y PY\ WY]^ >RO WKSX]^\OKW ]^K^O ]MRYYVSXQ ]c]^OW SX ON_MK^SYXKV \O]_V^] 3X ^RO ?XS^ON =^K^O] -YVOWKX ## RK] KV]Y +Y^OK\YK8OaDOKVKXNRK]LOOX]RYaX^YLONOOZVc\KMS]^KXNO`OX ]_ZZY\^ON ^RS] ZY]S^SYX K\Q_SXQ ^RK^ KVVLVKMU ]MRYYV] ]RY_VN XY^ aRO\O 7KY\S NY KMRSO`O S^ RK] LOOX SX K ]c]^OW SX aRSMR ^ROc K\O K_^YWK^SMKVVcLO]OOXK]KZ\YLVOW$ WK\QSXKVS]ONKXNNO`KV_ON <OMYQXS^SYX ^RK^ KVVLVKMU ]MRYYV] K\O XY^ SXRO\OX^Vc SXPO\SY\ RK] +]=WS^R##RK]K\Q_ON^ROMYX]S]^OX^PKSV_\OYP^ROON_MK^SYX ]c]^OW^YWOO^^ROXOON]YP7KY\SaK]^RO\OK]YXPY\^RONO`OVYZWOX^ YP5YRKXQK<OYKXN5K_ZKZK7KY\S3^S]SWZY\^KX^^YXY^O^RK^S^aK] SWZY\^KX^SWZVSMK^SYX]:O\RKZ]^ROWY]^]SQXSPSMKX^S]^RO\OKVS]K^SYX ^RK^ ^RO O^RSMKVVc KXN M_V^_\KVVc ZV_\KVS]^SM ]YMSO^c YP ^RO ?XS^ON =^K^O]RK]\YYWPY\]MRYYV]YPKVV]Y\^]ARK^S]O]]OX^SKVS]^RK^SPK XY^MYWZO^S^SYXKXNSXNS`SN_KVMRYSMOaRSMRM\OK^ON^RO]OSXS^SK^S`O] MRSVNS]SXKXKVVLVKMU]MRYYVS^S]LOMK_]OROE]SMGaKX^]^YLO^RO\O L_^MYYZO\K^S`OMYVVOM^S`OaRKXK_KXNSaSLK]ONZYVS^SMKVKM^SYX5_\K KXN RS] ZK\OX^] aKX^ RSW ^Y LO ^RO\O XY^ LOMK_]O S^ S] ^RO YXVc a a 5K_ZKZK 7 Y\S K\O Z\YKM^S`O ON_MK^SYXKV \O]ZYX]O] aRSMR 7 Y\S ]MRYYVRORK]\OK]YXKLVOMRKXMO^YK^^OXNZ ZK\OX^] RK`O LOOX PY\MON ^Y ^KUO ^ROW]OV`O] QS`OX ^RO SXKLSVS^c a a ZO\RKZ]\OV_M^KXMOYP^RONYWSXKX^: UOR ON_MK^SYXKV]^\_M^_\O]^Y a ]_MMO]]P_VVcSX^O\MONOSX7 Y\S_XNO\KMRSO`OWOX^KXNSX^ROYXQYSXQ a K]]SWSVK^SYXYP7 Y\SM_V^_\OKXNVKXQ_KQOZ3XK]SWSVK\aKcY_\ AO aY_VN KNN ^RK^ SP ^\_O NS`O\]S^c S] ^Y ObS]^ XY^ T_]^ NS`O\]S^c SX KMRSO`OWOX^K]KXY_^MYWOYP]MRYYVWSb^ROX]MRYYV]SX7KY\SKXN :KMSPSM3]VKXN]MYWW_XS^SO]XOON^YLOKL_XNKX^Vc\O]Y_\MONSXY\NO\ /^RXSMS^cKXN=MRYYV-RYSMO! "=_OAK^]YXO^KV ^YNO`OVYZKXNZ\Y`SNOSXXY`K^S`OON_MK^SYXKVZ\YQ\KWWO]9XOYP^RO ]YMSO^caOaKX^^YY`O\MYWO^ROZY`O\^cKXNNS]KN`KX^KQO^RK^S]^RO ]MRYYV]SXY_\]^_NcRK]LOOXNO`OVYZSXQKLSM_V^_\KVMYX^Ob^KXNRK] NKSVc \OKVS^c PY\ WKXc ]^_NOX^] KXN SP aO LOVSO`O ^RK^ ON_MK^SYX MKX LOOX[_S^O]_MMO]]P_VSXK^^\KM^SXQ7KY\S]^_NOX^],_^K^^RO]KWO^SWO RK`O ]YWO ZK\^ ^Y ZVKc SX L\OKUSXQ ^RO McMVO YP ZY`O\^c KXN ^ROX_WLO\YP^RS\NPY\WOX^\KX^]RK]N\YZZON]^OKNSVc^R\Y_QRY_^^RO NS]KN`KX^KQO ^ROX ]MRYYV] aRSMR ]O\`O ^RO]O ]^_NOX^] ]RY_VN LO ]SbcOK\]\OMY\NONKXN^RO\OS]KXY^KLVONOMVSXOSX^ROZ\YZY\^SYXYP KL_XNKX^Vc\O]Y_\MON^YNY]Y3^S]Y_\LOVSOP^RK^MYWZO^S^SYXRK]XY^ QS\V] SX ^RO PY\W ^R\OO SX^KUO <OM\_S^WOX^ YP :KUORK ]^_NOX^] L\Y_QR^KLY_^KXNaSVVXY^L\SXQKLY_^]YMSKVT_]^SMO3XWKXcMK]O]S^ PV_M^_K^ON N_\SXQ ^RS] ZO\SYN aRSVO ^RO ZO\MOX^KQO YP :KMSPSM 3]VKXN] RK] YXVc ]O\`ON ^Y SXM\OK]O ON_MK^SYXKV KXN _V^SWK^OVc ]YMSKV ]^_NOX^] K^^OXNSXQ NOMVSXON 3X O]]OXMO ^RO ]^\K^OQc YP ]OOUSXQ ^Y SXO[_KVS^SO] NO`OVYZK]MRYYVaS^RK]^\YXQOWZRK]S]YX7KY\S`KV_O]KXNZ\KM^SMO] >RO]OWKc]OOW]^\YXQMVKSW]L_^ ^ROc K\OXY]^\YXQO\^RKX^RO aK] _XNO\^KUOX aRSVO ^RO ]MRYYV \YVV aK] SX K ]ZS\KV YP NOMVSXO KXN YZZY]SXQMVKSW]WKNOLcZ\YZYXOX^]YPWK\UO^S]K^SYXAOVSUOWKXc aRSVO^RO]MRYYVaK]RK`SXQ^YK^^OXN^YS]]_O]\OVK^ON^YPV_M^_K^SYXSX Z\SXMSZKV] ^OKMRSXQ ]^KPP ZK\OX^] KXN ]^_NOX^] aS^R aRYW aO RK`O KXO^RXSMKVVcNS`O\]OZYZ_VK^SYX[_S^OKZK\^P\YW^ROZVKXXONSXM\OK]O aY\UON \OWKSX `O\c MYXMO\XON KLY_^ ^RO aKc] SX aRSMR WK\UO^ SX7KY\S]^_NOX^] ZYVSMSO] K\O SWZKM^SXQ YX ^RO [_KVS^c KXN OPPSMKMc YP ON_MK^SYXKV ARSVO^RO\ORK]LOOXMYX]S]^OX^NOWKXNP\YW7KY\SPY\KLSM_V^_\KV Z\Y`S]SYXSX+Y^OK\YK8OaDOKVKXN ON_MK^SYX ]c]^OW KXN K VOQKV YLVSQK^SYX KMMY\NSXQ ^Y ^RO >\OK^c YP 3X MYXMV_]SYX aO aY_VN VSUO ^Y KMUXYaVONQO ^RO 7SXS]^\c YP AKS^KXQS^YNY]Y^ROXOON]YP:KMSPSM3]VKXN]MYWW_XS^SO]RK`OXY^ /N_MK^SYXPY\P_XNSXQ^RS]\O]OK\MRZ\O`SY_]WOWLO\]YP^RO=WS^RPSOVN LOOX]YOK]SVcNOPSXON3XYXOYPY_\MK]O]^_Nc]MRYYV]aRSMRRK]KX :\YTOM^^OKWKXN^ROPKWSVSO]KXN]MRYYV]aRYRK`OQS`OX]YQOXO\Y_]Vc SX^KUO YP KVWY]^ ZO\MOX^ :KMSPSM 3]VKXN] ]^_NOX^] ^RO Z\SXMSZKV YP^ROS\^SWO^YZ\Y`SNO_]aS^RSXPY\WK^SYX NO]M\SLO] ^RO WKXNK^O ^ROc RK`O LOOX QS`OX P\YW ^RO MYWW_XS^c SX ^RS]aKc$ >ROZK\OX^]aKX^^ROS\MRSVN\OX^Y]_MMOONSXON_MK^SYXKV^O\W]SX 8Y^O 3X##^RO7SXS]^\cYP/N_MK^SYXSX^\YN_MONK]YMSYOMYXYWSMSXNSMK^Y\ :KUORK^O\W]>ROcaKX^^ROS\USN]^YLOXY\WKV>ROcaKX^^RO PY\ ]MRYYV] NO\S`ON P\YW -OX]_] NK^K YX K \KXNYW ]KWZVO YP OKMR ZK]]ZY\^ T_]^ VSUO ^RO USN] aKX^ { ^RO ]^_NOX^] aKX^ ^RO ZK]]ZY\^ ]MRYYV] \YVV =MRYYV] K\O QS`OX K .OMSVO \KXUSXQ P\YW .OMSVO >RO ]OMYXN ^RSXQ S] ^RK^ ^ROc K\O XY^ [_S^O ]Y SX^O\O]^ON SX LOSXQ ]MRYYV]K\O^RY]ONOOWON^YRK`O^ROQ\OK^O]^]YMSYOMYXYWSMXOON>RO M_V^_\KVVcOX\SMRONLOMK_]O^ROcPOOV^RK^^ROcMKXNY^RK^SX^ROS\ 7SXS]^\c_]O]^RS]SXNSMK^Y\K]KWOKX]YP^K\QO^SXQ]MRYYV]PY\KNNS^SYXKV YaXMYWW_XS^SO]=Y^ROcK\OXY^^O\\SLVcSWZ\O]]ONaS^R^ROPKM^ P_XNSXQ Z\SWK\SVc >K\QO^ON 0_XNSXQ 0Y\ /N_MK^SYXKV +MRSO`OWOX^ ^RK^aO^\c^Y\OPVOM^^RO:KMSPSM3]VKXN]KXN7KY\SM_V^_\O]SX]YWO >0/+KV]YUXYaXK]O[_S^cP_XNSXQ YP^ROKM^S`S^SO]aONYRO\OLOMK_]O^ROcPOOV^ROcMKX^KUOMK\OYP ^ROM_V^_\KVOX\SMRWOX^KXNNO`OVYZWOX^SX^ROS\YaXVS`O] <OPO\OXMO] 9_\\O]OK\MRRK]]RYaX^RK^^ROS]]_O]\OVK^SXQ^YO^RXSMS^cKXN]MRYYV MRYSMOK\OMYWZVObKXNNcXKWSM9_\MYX]SNO\KLVOSX`YV`OWOX^aS^R ]MRYYV] KXN ^RO =WS^RPSOVN MYRY\^ PKWSVSO] VOK`O] _] MYX`SXMON ^RK^ ^RO\O K\O POa ]YMKVVON NS]KN`KX^KQON ]^_NOX^] KXN ]MRYYV] aRSMR RK`O LOXOPS^ON P\YW ^RO WKTY\ MRKXQO] ^Y ]OMYXNK\c ]MRYYV dYXSXQ ZYVSMSO]3^S]Y_\LOVSOPK]aORK`OMYX]S]^OX^Vc\OMYWWOXNONSXY_\ \O]OK\MR\OZY\^]^RK^KVV]^_NOX^]]RY_VNRK`O^RO\SQR^^YK^^OXN^ROS\ VYMKV]MRYYVKXN^RK^]^K^O\O]Y_\MO]]RY_VNLOKVVYMK^ON^YOX]_\O^RK^ O`O\c ]MRYYV SX 8Oa DOKVKXN Z\Y`SNO] K [_KVS^c ON_MK^SYX PY\ ^RO ]^_NOX^] aRY K^^OXN S^ \OQK\NVO]] YP ^ROS\ O^RXSMS^c QOXNO\ Y\ ]YMSYOMYXYWSMLKMUQ\Y_XNAOaY_VNQYP_\^RO\^YK\Q_O^RK^SPK]K ,KVV = ,YaO < 1OaS\^d = ## -S\M_S^] YP ]MRYYVSXQ$ + ]YMSYVYQSMKVObZVY\K^SYXYPZK\OX^KVMRYSMOSX]YMSKVMVK]]MYX^Ob^] =YMSYVYQSMKV<O`SOa!" ,OX^YX<#"!2YaPKS\S]8OaDOKVKXNON_MK^SYX):K\^$0KS\XO]]SX 7KY\SON_MK^SYXAOVVSXQ^YX$8OaDOKVKXN-Y_XMSVPY\/N_MK^SYXKV <O]OK\MR ,\YaX:#"!=MRYYVSXQY\NSXK\cUSN]6YXNYX$>K`S]^YMU -RKZWKX4##:K\OX^KVMRYSMOSX]MRYYVON_MK^SYX:_LVSM=OM^Y\ " /^RXSMS^cKXN=MRYYV-RYSMO# -YVOWKX 4 ## /[_KVS^c KXN KMRSO`OWOX^ SX ON_MK^SYX ,Y_VNO\$ AO]^`SOa:\O]] 1Y\NYX 6 ## 3] ]MRYYV MRYSMO K ]_]^KSXKLVO ZYVSMc PY\ 8Oa DOKVKXN)$ + \O`SOa YP \OMOX^ \O]OK\MR PSXNSXQ] KXN K VYYU ^Y ^RO P_^_\O8OaDOKVKXN+XX_KV<O`SOaYP/N_MK^SYX# 2K\UO\ < 8K]R < ## +MKNOWSM Y_^MYWO] KXN ]MRYYV OPPOM^S`OXO]]$>cZO+KXN^cZO,OPPOM^]8OaDOKVKXN4Y_\XKVYP /N_MK^SYXKV=^_NSO]! 6K_NO\22_QRO].._Z_S]+7M1VSXX4##>YLO]YWOLYNc$ -VK]] QOXNO\ KXN ^RO \K^SYXKVS^c YP ON_MK^SYXKV NOMS]SYXWKUSXQ AOVVSXQ^YX$7SXS]^\cYP/N_MK^SYX 6K_NO\ 2 2_QRO] . AK]VKXNO\ = >R\_ZZ 7 7M1VSXX 4 8Oa^YX=._Z_S]+##>ROM\OK^SYXYPWK\UO^MYWZO^S^SYXPY\ ON_MK^SYXSX8OaDOKVKXN0S\]^\OZY\^^Y^RO7SXS]^\cYP/N_MK^SYX AOVVSXQ^YX$@SM^Y\SK?XS`O\]S^cYPAOVVSXQ^YX 6K_NO\ 2 2_QRO] . AK^]YX = =SWSc_ 3 =^\K^RNOO < AK]VKXNO\ = ## >\KNSXQ SX P_^_\O]$ >RO XK^_\O YP MRYSMO SX ON_MK^SYXKVWK\UO^]SX8OaDOKVKXN>RS\N\OZY\^^Y^RO7SXS]^\cYP /N_MK^SYXAOVVSXQ^YX$@SM^Y\SK?XS`O\]S^cYPAOVVSXQ^YX 7KNNK_]4##:K\OX^KVMRYSMOYP]MRYYV$ARK^ZK\OX^]^RSXUKXN NY 3X - -KdNOX /N <O`SOa YP <O]OK\MR SX /N_MK^SYX !# ZZ 7M-_VVYMR1##=OMYXNK\c]MRYYVdYXSXQ$>ROMK]OYP+_MUVKXN 3X4-YNN<2K\UO\<8K]R/N]8OaDOKVKXNON_MK^SYXZYVSMc ^YNKc$-\S^SMKVZO\]ZOM^S`O]=OMYXN/NS^SYXZZ":KVWO\]^YX 8Y\^R$._XWY\O:\O]] 7M-_VVYMR1##=MRYYVdYXSXQO[_S^cKXNP\OONYW$>ROMK]OYP 8OaDOKVKXN4Y_\XKVYP/N_MK^SYX:YVSMc " =WS^R 1 ## >YWY\\Ya] =MRYYV] KXN ^RO NO`OVYZWOX^ YP 7KY\S ON_MK^SYX7YXYQ\KZR8Y+_MUVKXN$?XS`O\]S^cYP+_MUVKXN =WS^R 1 ## ARKUKYRY aRKXK_ 2O :_UOXQK 5Y\O\Y :KVWO\]^YX 8Y\^R$7K]]Oc?XS`O\]S^c AOVV]+##+P\SMKX+WO\SMKX]^_NOX^]`SOa]YP]MRYYVMRYSMO3X , 0_VVO\ < /VWY\O 1 9\PSOVN /N] =MRYYV MRYSMO$ >RO M_V^_\KV VYQSMYPPKWSVSO]^ROZYVS^SMKV\K^SYXKVS^cYP]MRYYV]8OaCY\U$>OKMRO\] -YVVOQO:\O]] =_OAK^]YXO^KV >ROK_^RY\] >ROK_^RY\]K\OWOWLO\]YP^RO=WS^RPSOVN:\YTOM^^OKWO]^KLVS]RONLc ^RO.S\OM^Y\]2_QR6K_NO\KXN.K`SN2_QRO]SX##KXNP_XNONLc ^RO 7SXS]^\c YP /N_MK^SYX 2_QR 6K_NO\ aK] Z\O`SY_]Vc :\YPO]]Y\ YP /N_MK^SYX K^ @SM^Y\SK ?XS`O\]S^c YP AOVVSXQ^YX KXN S] XYa -RKS\ YP /N_MK^SYX K^ ^RO ?XS`O\]S^c YP ,K^R SX /XQVKXN .K`SN 2_QRO] S] K ]OXSY\VOM^_\O\SXON_MK^SYXK^-KX^O\L_\c?XS`O\]S^c=_OAK^]YXS]K :R.]^_NOX^SXON_MK^SYXK^@SM^Y\SK?XS`O\]S^cKXN<YLO\^=^\K^RNOO S]K:R.]^_NOX^SXON_MK^SYXK^-KX^O\L_\c?XS`O\]S^c3L\KRSW=SWSc_ S]K\O]OK\MRMYX]_V^KX^XYaLK]ONSX+_MUVKXN
© Copyright 2025 Paperzz