Fortean Times - February 2016 PDF
Fortean Times - February 2016 PDF
Fortean Times - February 2016 PDF
7+
:25/(
:(,5 '´6
'(
1(:6 67
&UD]\ /RYH
6WRUWIRUG
6SRRNV
-1,'" 7-
,* ,= 31 A*! <! 0!<D<H A<,/ 03<! F!,< =!GD/ %!A,=*!=
! /H =5, !< =D<5<,=!= !/!A<30)1!A, *H5!<=!1=,A,E,AH
<31 )! 031=A!< 0=* )*3=A= 3% ,=*35;= A3<A%3< 3=30
=!<5!1A= /==,/ =F!<,1!== $ 1 0D* 03<!6
14,-
23
# (1#$ (&' ,(& '' %$ 1( 4$%%,&( % (,(
!8
=!A= 3%% ,1A3 A*! )<!A !/A, !=!<A ,1
=!<* 3% 1,!1A <,/ =D<E,E/= 0H=A!<,3D= 0!)/,A*=
%,<H %3/./3<! 1 31! 3% A*! 3 !=A HFH= 3% !E3/DA,31<H
=,!1!6
,*(,1-
3!
;= :!<,3D=/H !F,A*! ; 31%!<!1!
,"4%,-
IC >'
/
3
?4 >2
%'1 1*$,- ' -14''$'" -1,%$'"- # -1,'" 6(,% ( &,$' *(%$1$-
>4 "I
! &8-3&)
0 34;88-+"-38!+8&*!42-*1
0-3&(3 *&)2-*1
04&!=!(&+$"-38!+8&*!42-*1
0!8&!++!"-38!+8&*!42-*1
0=)"-38!+8&*!42-*1
>>>24;4&+"-2-2;(
-38!+&*!44!3=&!%!)/)&+!2-2;(
'*!42*+$+ @:@ 5,@5 65@. (81*/ >( .*91'D/*9> .9>81 A8 2?> 1/ * '8> ./D 1" 1?8 "1--1B89 1/ B*>>8
4!?*-;32-2;( 3 )!?<!=!3 98/5
18 8/>-D ?*--8.1 - 181 / 11,5 1""8 '81A--*/' 2?-*
!++&42-2;(
-1?8 -1/' / (8 >1 8*/' (*9 1B/ -1A 21-1'D >1 -- 18/ /89 / >( '11 "1-,
->>8 >1 1>(* 1./
>1 1" 9> >""189(*8 1/ 91*- .* / 1 91
$!3) &+!2$3-)!3 @:@ 5,@5 6:#5 "8?*>*1/ / ( ,*/-D "1?/ >( >*. >1 >-, '*/ (85 *- >(*9 1/ ?/8 6>11 1A*1?9 "18
4!?*-;32-2;( &*-$!+<>&))&*4 >1 ?9 1?> (*9 -1/' */A1-A./> B*>( >( ?9 >1 /1>*75
!++&42-2;(
'/8 / >( *"#?->*9 1" 8A*A*/' *>5 1>(*
1./ 8>*/-D (9 "9*/>*/' (*9>18D ?8>(8 '1'82(*- 1/"?9*1/
1/ B18>(D 1" */A9>*'>*1/ / 228*>*1/: >(*9 >*. */ / 1?/> 1" >( %9()"8E*/'
%/2.%42 %) .') ) 6*.'6% B(>(8 *> (9 "?>?8 *9 /1>(8 .>>85 1" (?/89 1" (88*/' */ 18B'*/ D
N $N25I> .?F>.IF.53 F":
H ?F 5I1F>N K$3I$ 53"53 6 4 >(> -"> 88 A* 1->9E 1/"?95(
$1 PHP A*H4 *PPP C M PHP A*H4 *PP6
- >C> 8"89 >1 >( *9-/ 1" 1A?/ >( 2*>?8
I$>.$? 53 5K$>?$? K.1.1.FN ?,5I1" $ $2.1$" F5 /-*/ .8,> 898(<21--*/' 1.2/D 2>*1/ >118-?/5 (*- >(8 *9 18B'*/
.3'5?$N25I>:5:I0
+%'%27 /2*. %/2.%42%*) N 5>1"L."$
+O.3$ 1?1A *9 .,*/' >( 89?->9 1" *>9 -8')9- 1*-#- --1-?/ 1?> */ >( 18>(
.?F>.IF.53 F" $1 P6H6 A%% G66H M P6H6 A%% 6HAH 1/9?.8 9?8AD9 A*-- 1/-*/51? / >(8 *9 /1 9?( 2- */ 18BD *>9-" / >(
98( "18 8/9 /9 '81?29 281?>9 188> -1>*1/ 1" >( #9()"8E B9 1A?/5
6H .??I$? EG4:4%@ E*A:)P
21-*>*- "#-*>*1/9 / 1" 1?89 .'E*/95
*.2) %(/ ,
<76"772- #0 +8%#0! 9/; )8/ :$0 ; ''#0
8%#0!#' 5 6< %9%'
5/5 )')' * '#5 #' )&. 8( "18 618>/ *.97 / >( B9*>
!
''8% 080/#+5#)' +/# #0 (.((. '/8>9 61?1A81#-7 9 1/ >( ;F)1
#//# !5 ' &#%#' #' 5!
#0 ; '5 '& #/ 80#'00
3 )/%'5 !#++#' '. *("6 *115! 5/5 &# 889 */ >( >95
: )/$ **6. 1 B ,/1B B(> 918> 1" 212- D1? 8 *>
/#)#% +)05 +# 5 &#
**6*
.
' /00 !' 0 5) )/5' #&0
B1?- 9. > -1A*/' .*-)-99 ".-
666< # 9'8
8#5 << #/ #'# ! 76*"7(6
. -">*9 ' 1A8 &F "81. 1>-/ -9 /
E))@ #%4:44 8#6B6:4% '5> H* .??I$?9 9> /'-* D1?8 (9 9>?, */ 11,9 1?>
>( 8>9 9*/ / ?->?8 3B(/ D1?78 /1>
'1*/' >1 C(**>*1/9 18 ?D*/' / %1''*/'
=
9>?"" 1/ D4 / 289?.-D 9?9>*/*/'
>( 1 */+?8D "81. -- >(> 8?'D D1?78 91
$7 "*.2)-
5.72$%)# 7*4 '67/ 6)2 2*
$2$> 5' F,$ I".F I>$I 5' .>I1F.53?:
"1/ 1"51?78 >(1?'(>"?- -A8 / ',D &)*6 *42
42
.>I1F.53 6A PH* 8
3-$ HP669 ->(1?'( 1/ 19*1/ *> /?81>* -*/> 6. 2** +.)*% 2* /&!
>.3F$" .3 F,$ : PGP% )%44 / *"#/>51? 8 >(
92/ $F
! 5>F$3 .2$?
HP6B (1?89 B, 1/-*/ / 1/7> B>( -1> 1" 0
3 GGA
LLL:'5>F$3F.2$?:52
"
?*5 13H>) ? H? E3 K5 E8
1 ,E,31 E* > ,? ? I 1+5)
E ?E ?H>I L ,??H L E* )/,?
1?E,EHE J*,* ?EE ? E*E E*
?,? 0 > ,? / E3 5>3I,
% "%& % % ##" " "
' ( 5>3E E,I ?*, / ),1?E E*
,1'H 1 3$ 0,??,31? $>30
03,/ 5*31 ?8<
30 E,0 /?E ?H00 > ;
>)31 < 3$ 3H>? J? E*
?H?5,,3H? 5.) J? $3H1 10 ),I 1 L 0I >,. /, 1,?E
L 0,1E 11 J3>. > ,1?, ,/* /0 ,* 64!2@+42&@7
H,/,1) E 1 H1, 1E,% E3 E* >, 1 >)L 6/,$ 1 >)L
>H?/ 0 0 E >L E*E ? >I ?
, 3> *,B9, E87 E*
? 1 ,053>E1E >*3/3),/ ?HE/ H1,I >?/ 1 >)L 3$ /,$
?,E L, /,1) > 0,1? $>30 E*E K,?E? I >LJ* > 1 ,1
E* 301 LM1E,1 1 // E*,1)?8 ,* *,0? /$ ?, ,E
>H? > 5 >,3?8 1 3>1 J? E* 9H,I/ 1E 3$ 38 *
J,E* ? H>,EL 5>3E33/ E* 3>,),1/ 3>)31 H0H/E3>?
0,1E 11 J3>. > / >E J > />) 3K ? ,1 J*,* E*
; 1 >) E, 5>3E E,31< I, ? 1 ,E 1/ E* 0 E3 > ,I ?L E*E E*,? *55 1 H? "$
?,)1 E3 1?H> 1 >)L ?H5> 0 ,1?5,>E,318 88 * E* L /,I > E* > ?H/E? E*E E* ,> "$
==8
AAA0!+5<*<%)60+)
!& #.33 !'+ 1#!& +
#&/&'!'
& '
0!& ! +
'+&
'1.
.2
&' ! +!&!.2
#&
+' '!#%'
+!&+!& !& 0+
!#
!
(;75$ (;75$
1'
2 2 ! + +
+
!/& !
&
. !
!
&!
+.& &'&/
#!&' #. #&#+!' ! #&!+'+$$$
# )%(%<% <'+@5 +! !5( ?%(%*" %* <#< %! <#6 -+-( A5 (' +5
?6(%)
?5*6 5"+* #6 -5+@+' (+< +! <# )% +?<5C A+?( #@ * #?"
+*(%* 5<%+* .5<%*(C )+5 6+ <#* %* * <# 3-5+<6<+564 A+?( 1?%'(C #@
<# )%*6<5) )% A#%# 6) %*<*< * ((( <55+5%6<60 # "+@5*)*<46
+* %"*+5%*" <# )<<5 (<+"<#5/0 * <# 5<%+* )%"#< (6+ #@ * %!!5*<7 $&
# " !/ -4"
<5*((C +-<%)%6<% 3<#%6 %6 %<4 6<%+* +! <# 6+!<(C 6+!<(C --5+# ?55*<(C %* -(
<# 5(%"%+?6 5%"#< A%*" %< %6 6* @5%+?6(C A+?( (%'(C *+< #@ * +!!5 <+
?6(%)
6 <# 6<5< +! <# %@%( A5 )*C 5%"#<$A%*" <%@%6<6 +5 5) (' -5+<6<+560
3-<5%+<64 #@ * A%<%*" !+5 +5 <# * <#%*" <#< 6<5?' ) +?< ?*C
"%**%*" +! <# -+(C-6 %<6(!0 #5 5 < (46 -?(% -5+*+?*)*<6 %6 #+A <#C
5' )?<<5%*"6 +?< !5( +(+*%6<%+* 6 <#)6(@6 6 5%(6 5<#5 <#*
+! <# A#+( 5 <+ B-(+%< 565@6 B<5)%6<60 #C (%) <+ ?-#+(%*" <# 0' -, -4"
+! *<?5( "6 6%(@5 * @* 56*% +*6<%<?<%+* * 5(%)%*" <# 6<<
.)5'<( #+A +* A+*56/ * 6+ 6<@ !+5 <# -+-(7 A#* C+? 5 +?-C%*"
+!! <# (++)%*" +*+)% 56# -5%< C "+@5*)*< ?%(%*" * -+%*<%*" C+?5 "?*6
)*C %* <# 5%"#<$A%*" #5%6<%* +))?*%<C < <# -+(% <#< )%"#< 6) (%<(C
* !?5<#5 5+0 -5+B%( !+5) +! -5+-5%<C0 ?< <#* <#%6
))+* ?*C .(+A/ <# 5%*"(5 %6 +*-<?( %5+*C +))+* <+ )5"%*(
+! <# "5+?- %6 55C%*" +* 6+)<#%*" +! +5 B<5)%6< "5+?-6 * <+ )*C +*6-%5C
0' " -4"
!)%(C <5%<%+*7 # %6 <# 6+* +! (%@* <#+5%6<67 <# +?<(%56 6 <#)6(@6 6
?*C A#+ (6< C5 A6 %*@+(@ %* * <# 6?-5$*+5) * 5 +*!?6 < <#
5) 6<*$+!! A%<# -+(% * <%+*( (' +! -+-?(5 6?--+5< !+5 <#%5 ?66
?560 # ?%(%*" %* <#
(#?5 +5 <#%5 <%+*60 < (6+ 5)%*6 ) <#<
<%+*( %((%! !?" .3
(#?54 +?( B<5)%6< "5+?-6 -5<%?(5(C 5(%"%+?6
5 6 3 <%)4 * +)%*+?6 -+5<*< B<5)%6<6 56)( # +<#5 )+5 <#* &' ' ") -4"
-5#-62/ %6 ?6?((C ?*+?-% * %6 <#C 56)( <# )%*6<5) +! <#%5 +A*
*+< B<(C "+@5*)*< #?7 *+*<#(66 !%<#60 #<46 <+ 6C #5%6<%* B<5)%6<6
6+) +))*<<+56 5 "(!?((C -5%<%*" 5 !5 )+5 6%)%(5 <+
?6(%) B<5)%6<6
*+<#5 +0 <#* <#C 5 <+ )%*6<5) #5%6<%*60
# <%+* %6 +6<*6%(C %* 6?--+5< +!
+5+@5 5(%"%+?6 !?*)*<(%6<6 5 @5C
A%"#< * <@* ))+* !<#5$ -5<%( <+ +*6-%5C <#+5%6 @* <#+6
*$6+* 5*#56 A#+ A5 5*<(C <#< A+?( 6) <+ +*<5%< 5<%(6 +!
& 0' "( -4"
+*@%< +! 56+* +* !5( -5+-5<C7 <# <#%5 +A* !%<#7 * <#< #5<5%6<% %6
))+*64 (AC5 #6 -?(%(C 6<< <#< 6#5 5+66 5(%"%+?6 %@%60
<# ))+*6 + *+< A%6# <+ 66+%< 4(( A5%< )+5 +?< <# -<5%+< )+@)*<
<#)6(@6 +5 <#%5 6 A%<# <# -5+<6< * %<6 +5%"%*6 < 6+) -+%*<7 %<46
#+A@50 #C 5*4< <# +*(C +*6 '%*" !6%*<%*"(C .* +6%+*((C *"5+?6(C/
AC !5+) ?*C * #%6 +*!5<6 @* (5%<# +5*5 +! <# +*6-%56-#50
))56 +! <# )%(%<% )+@)*<
AAA0-5%6+*-(*<0+):A#C$<#$
5 5(?<*< <+ "< %*@+(@0 #
!6$A+*<$5'$+A*$+*$<#$
<# -56 (5" )%(%<%
+5"+*$6<*+!!$!+5$*+A0#<)(7
?)5(( +5"*%6<%+* #6
#<<-::!+5%<6*A60+):
A5* %<6 ))56 <+ 6<C
(<5*<%@:>D,9:D,:!?(($6<+5C$+*$
AC .(<#+?"# #@ *+<% !A
A#<6$"+%*"$+*$%*$+5"+*$)%(%<%$
<# -56 $6#%5<6 * 6<%'56
<'$+@5$)(#?5$*<%+*($
)+*" <# -5+<6<+56/0
A%((%!$5!?"$%*$-5+<6<$
<#5 +))*<<+56 #@ <+$#))+*$!)%(C$
* +-*(C +*<)-<?+?6 -56?<%+*$@%+$*$
+! <# ?*C !!%5 * 6+) )?#$)+5$=>8D=>0
#@ -+%*< +?< #<)(
&+! &.' ", -4"
==8
AAA0!+5<*<%)60+)
)33&: )92)927&+* + 372(&*#3 &3 3*
+2)&*# 372&'&*# 22+;$ 3$- 3 7$
&23 -2-2 7+ 2++37 +2 7$ *&#$7 *2 7$
-2+)&**7(= +9&* &7= + $7 &* 7$
*+27$2* 32(&
#: 327.
55
2>&(&* 7-&2 3-23 -&*7 +* *:3 &* 7$ 2> ++(+#&(
2 2)&:(%(3%9< *+27$;372* 2*. $ 7-&23 27
7$ -&*7&*#3 7+ (27 +2( -&2 = +* 84 -2&( 8?,!. $
>++ -(** 7+ 3(( 7$ *&)( 27;+2'3 ;&7$ -2+3 #+&*#
7+;2 7$ 3-&31 +*32:7&+*.
55
$&3 3:*%;'%+( 3';( +( --23 7+
7;+ $+233 &* +* 3 7$ ;$&( $&2 +* &73
*' * 3$+9(2 )'3 7$ -27 -2+ ( +
$+23. $ -772* &3 39$ ;+2' + 27 7$7 7$
+(13 +;*23 7 =(&*# (( $++( &* =(&*7$+2-
+27$ +2'3$&2 $: *) &7 &*& +2 &**=
+2 3$+27.
.
5
$&3 2&( -&792 7'* +* 8" -7)2 8?,!
+: 7$
*+''%&37 $ 3$+;3 * 27
&*37((7&+* = -$+7+#2-$2 &) ((&2 *7&7(
/&)0 * -&7&*# #&*7 2.
55
"#
85.Q#B.62" Q6MJ- OC B.
! ! %
B#CJ#" 64 + ##3#B '6B JB#C.
9CC/4, 4" B#C/CJ/4, BB#CJ
'J#B #4J#B/4, C#MB# B#
6' J-# M"O#/C#B B#O#BQ /4 J /1E D8# 16 K/% .D144 8) K/% /8K D8#"
6M/C!
/CC6MB/! 4" -N/4, 4 6# EKDKE P8D316. 1K> K 5NEK /O%
2J#BJ/64 O/J- C#MB/JQ 9#B. %%6 P/14% E16 % /% EK1E*%# /1E
C644#2< /C 43# OC% M" NK80%D8K1 6%%#E" E /% 85%E
#/CC#B :Q#C! B#22Q;< -# 4, ;D%KKR ?N1 34R> 1644R" 16 ;8EK0
6' 6BJ /C B#3/4"#" 6' 6#BJ 81K4 )K%D.48P" /% D%KND6E K8 K/%
#BC-#Q! O-6 "B6O4#" /4 NJ 3 K8 41% #8P6 6# N##4% K/%
6' -662J# /4 #44CQ2N4/ D> ((&850 & #(# )) <
/4 85E+ !!< :#BC-#QAC 7>)-
/C J-# 2B,#CJ -662J# 34M.
'JMB#B /4 6BJ- 3#B/<; s E%Q ;%EK ##1 K%# K8 .NSS416.
*<8(*; -6 *9$1. ;%KD84 PE )D%%# )D85 214 6#
8>+/ P%6K EKD1./K K8 .D.% )8D
.4486 8) N64%#%#> 8%DK
O6 O63#4 /4 7J24"! O#. K%;/%6E" ML" )D85 Q)8D#" PE
"#4! -N# ##4 44#" 'B63 61 3%# 86 K/% )8D% 8NDK )K%D
1##9/4, 9#JC 'J#B 64# "3/J. #%)R16. 6 6616. /15>
J#" B#CJ'##"/4, -#B J< % ;D%O18NE4R .8K E1Q 586K/E
-# 9/B 2C6 O-##2#" J-#/B )K%D %16. 4%P# K8 E /884.1D4E>
JC B6M4" /4 9MC--/BC! -# M4/"#4J/(#" 34 M,-J 64 -N/4, C#P O/J- 6BC-#< -# 8& )6 < 7>)-
C9664.'#" J-#3 /4 -/,--/BC -/2"B#4AC C2/"# /4 J61# B##4 B1 J-J -B/CJ69-#B
6-4C64 '6M4" C6 B6MC/4,<
4" ,N# J-#3 "M33/#C J6 s /D1EK8;/%D
8/6E86" -H" PE
CM1< 9( 8>+< N./K E15N4K16. E%Q P1K/
s 4;/ 1E/8;" +L" PE )8N6# R ;4R.D8N6# E41#% 16 K83% D%%6
;841 % P1K/ /1E KD8NE%DE D8N6# D3" 8O%6KDR" K 9T>-+;5 86 9'
B#4- B#C#B-#BC -N# /1E 634%E @16K%D)%D16.A P1K/ N.NEK>
.1EKDK%E /%D# K/%
"/C6N#B#" KS!SSS.Q#B.62" KD K8D ;D3%# 16 *%4# 8NKE1#% ;D316. KK%6#6K /# ;D%O18NE
,/4J N/BMC /4 J-# /#B/4 9#B.
Q5N6#/5 16 N))843> % PE 86O1 K186 )8D E1514D 8))%6 %
3'B6CJ< 6 =M2/'Q C ,/4J!
DD%EK%# 86 ENE;1 186 8) 8NKD.16. 16
N4R MT9-" P/%6 /% N6#D%EE%#
N/BMC -C J6 # 264,#B J-4
;N41 #% %6 R" 6# #51KK%# 6# ;%D)8D5%# E%Q K 86 K8;
-2' 3/B64! J-6MC4"J- 6'
K8 /O16. /# E%Q P1K/ D8N6# 8) E41#% 16 #1))%D%6K ;D3 16
3/22/3#JB#< *&&$:$091 1$0$#
9' :>C6'J N/BMC 'B63 /#B/?; -+T KD K8DE 44 8O%D K/% N))843 K/% 1KR> % PE 66%# )8D K/D%%
63#C /4 J S<F 3/B64C< J 8N6KDRE1#%> /%6 8)* %DE R%DE )D85 6R 48 K186 P1K/
/C J-# '6MBJ- JQ9# 6' 9B#-/C. E%D /%# /1E K%DD %# /85% K/%R E41#%> % PE 4E8 *6%# 6#
J6B/ N/BMC '6M4" C/4# LSSK< )8N6# 844% K186 8) 58D% K/6 P144 N6#%D.8 6 9'0586K/ E%Q
#'6B# B#C#B-#BC JJ#39J +"TTT KD K8D 15.%E 86 /1E 4;K8;> 8))%6#%D KD%K5%6K ;D8.D55%>
/JC B#4/3J/64! J-#Q O/22 N#B/'Q /% ;/8K8E E/8P%# 1E/8; /# @ KCE 4PRE %%6 )%K1E/ 8)
J-J /J 446J MC# 4/32 E;% 14 #%E1D% )8D
8/6 %%D% 56 E1KK16. N6#%D EKD%%K 45; 516%"A /% K84# K/% 8&> @ P6K%#
6B -M34 "/C#C#< -#C# 6#
EE%R %D.NE86 KD K8DE" 6# KDR16. K8 /O% E%Q P1K/ K/% K8 )%%4 K/% 5%K4" 41% 86 1K 6# .%K
4/#4J N/BMC#C B# 46J 642Q ;DK1 N4D4R .D%%6 86%E> 4E" K/1E K8P D 8) 5;%D O6> % KND6%# 86> 5#% K/% 51EK3%
/,,#B! MJ 'B 36B# 6392#P EK8DR R @N./ N66%KKA 16 K/% 48P%D%# /15E%4) 86K8 K/% 5%K4 8) K316. 1K 16K8 K/% ;N41 >/%
,#4#J/22Q J-4 36CJ N/BMC#C 8($# =55 <MT K MT9+= PE K8P 44 8) K/% O%/1 4% 86 NER %O14 .8K K/% %KK%D 8) 5% ( /#
/BM2J/4, J6"Q< "=1/*0! K88 .88# K8 % KDN% ( 41K%D44R- D%E1#%6K14 EKD%%K 16 %P?NR" %1./K 8D 616% #D163E>A +(&(&,
,6 8>+/ KCE EK1D1 4 6%PE E1K%> -5/ 8D6P44>
DE 43%D 44%# K/% 9- 5&/ +(&$"&, 77 *51
7) 5 7>)- 8P%O%D" O%/1 4%E ;841 %" P/8 4%K K/% 56 8)) P1K/ 8& 77.76 *5 7>)-
D% E85%K15%E 82% KE 8) 4NEK" )8D54 PD616." E 1K PE /1E *DEK
E /D861 4%# 16 K/%E% ;.%E! 8))%6 %> $<%(85! /$ +(&$"&, s LL0R%D084# 56 PE P4316.
MT0R%D084# PE %D8K1 44R 7>)- #8P6 D8# 16 PS3/%4%
8E%EE%# P1K/ /1E NEK16
%KD8 K8P6E/1; 16 8DK 41S%K/"
" 6# #PD# 51K/ 8) s 6 N61#%6K1*%# 56 PE 8NK/ )D1 " 86 +
R MT9+
E/16.K86 44%.%#4R /# E%Q N./K 86 86 9T
R P/%6 4 3
EK8;;%# 6#
P1K/ GTT DE
> MT9+" 8;N4K16. P1K/ 8DE /% K/D%% P85%6 16 K/%1D LTE E3%#
E85%P/%D% 16 /146#> )K%D /15 )8D #1D% K186E> E /% PE
s
31% 43%D" HH" 6# /%D KDR16. K8 .8 #8..R EKR4% 16 K/% K%4416. K/%5 P/1 / PR K8 .8"
9+0R%D084# .D6##N./K%D" K14;1;% /% 3E 8))" 4NK /16. 86% 8) K/%5 ;N44%# 8NK .N6 6#
488316. 8NK 8) %#D885 P16#8P /1E .D816 ( 5R% /% ND6%# /1E )8D %# /15 K8 .%K 16 K/% D>/%R
K 9!LT5 86% 61./K 16 4K% .8841%E 86 K/% /8K K14;1;%> % #D8O% 8NK LTT 514%E <-'T35="
8O%5%D" P1K6%EE%# 63%# K/%6 58O%E K8 K/% )D86K" EK1 3E )86#416. /15 16 K/% 3 E%K"
KKE
OOO<'6BJ#4J/3#C<63
"#
K/%1D PR P1K/ /15 K/%6 ;NK /1E %6..% 16 E%QN4 16K%D 8NDE% P1K/ -# OC #/4, OJ-#" 4" -/C
E%5%6 16K8 ;4EK1 .E" P/1 / 6 6154 E 486. E 1K 668K % J6B- JJ#B/#C O6M2" CM""#42Q
K/%R ;4 %# 16 884 8Q %)8D% ;D8O%# K/K K/% 6154 /E %%6 ,6 *J< >6M O6M2" -#B 46/C#C
K/%R 4%K /15 8NK 8) K/% D 6# KD%K%# K88 D8N./4R 8D DN%44R>A $ MJ 46 64# OC J-#B#!? -# C/"<
-B## "QC 'J#B -# 2#'J! J-/#N#C
E;%# 8))> /%6 /% 85;416%# K8
:0 +"&$&, )
8$< 7>)-
1/1#" /4 J-# #4JB4# "66B 4"
K/% ;841 %" K/% 8)* %DE 86 #NKR
CJ62# I+SS C- 4" -B/JQ
58 3%# /15> 6 16O%EK1.K186 s /%D% P%D% 9T+ E%E 8) 6P< 60* 8) 6 8>+/
16K8 K/% 44%.%# D;% PE 8;%6%#" K/% 54KD%K5%6K 8) /8DE%E 16
NK K/% 56 8N4# 68K D%5%5%D P1KS%D46# 16 MT9- ( 9T ;%D
K/% DCE 6N5%D ;4K%> @/1E 1E %6K 8) P/1 / 16O84O%# ;%8;4% 9#B'#J2Q C9-#B/2 -#4AC #,,
D%44R 86)NE16. K8 NE % NE% P% P/1K% 6# D1./K 8D6.% #14#8E /O16. E%Q P1K/ K/%5" 6 16 D%E% C62" '6B I+$S 64 #Q /4 /" 6'
/O% 6%O%D /%D# 8) EN / K/16. ;;%D%# K8 /O% %%6 EKDN6. 86 ;D%O18NE R%DE>/%D% D% 6 J-# QCJ/ /B6C/C BMCJ< /3
%)8D%"A E1#
6 %#1
858> K8.%K/%D 16 ;1DE> E;83%E56 )8D %EK15K%# 99T"TTT /8DE%E 41O16. B6M,-J64! ++! '6M4" 64# 6' -#B
/% 6. 8) 8DK" /8P%O%D" D% 44E ;N41 NK141KR 8DK46# %6%D4 86 9'"TTT P1EE )D5E> Q;%DKE -#4C & 46O B#43#" /4, 64,
6 1#%6K1 4 EEN4K 16 <1) 5%58DR 4% KD1 E1# /% #1# 68K %41%O% %EK15K% K/K 9T"TTT P1EE & -" 2/" J-# B6M4" #,, /4 -#B
E%DO%E= 15P% ( NK K/% K/% DN%D ;D8#N KE ;8E%# *D% ;%8;4% <.%6#%D N6E;% 1*%#= D% ,B"#4 /4 J-/4,J64! CC#P!
D%;8DK NDD%6K4R %4N#%E NE> "%0 /SD#> @8N 8N4# E;8K K/%5 @;D%#1E;8E%#A K8 S88;/141>/% 64 8E #BMBQ & 41# Q<
&*&&5 8& < 7>)- 16 E%O%D4 16K%DE% K186E 6# R8N 6N5%D 8) N6D%;8DK%# /8DE% NE% 9(= &!0," + 0 8>+</
8N4# E%% 44 E8DKE 8) D% K186E K8 E%E 1E ;D84R 5N / /1./%D
s 6 %;K%5%D" 8NK/ )D1 6 K/%5"A E1# N 14 %2E ;;4%> K/6 D%;8DK%#" .1O%6 K/K E8 56R -B6M,-6MJ #9J#3#B! J-#
;841 % DD%EK%# +'0R%D084# @85% P8N4# 4NE/" 8K/%DE P8N4# ;%8;4% 16 K/% 8N6KDR D% 16O84O%# /4-/J4JC 6' M-#,6BC1 :969
6%" ENE%?N%6K4R 65%# E 4N./" 6# 58EK P8N4# K3% P1K/ %?N%EKD16 K1O1K1%E>
: LS!SSS; /4 J-# 'B #CJ 6' MC.
%K%D D%#%D13E86" )K%D *6#16. ;/8K8E>A )6
8$< 7>)- (/# (05 +(&$"&, 72
(9 7>)- C/! 26C# J6 J-# -/4#C# 6B"#B!
M9 ;1% %E 8) P85%6CE .%61K41 O#B# 'B/" J6 69#4 J-#/B "66BC
EK8D%# 16 ;4EK1 .E 16 )D%%S%D s @1646# 1E K/% 4EK EK186 8) s 56 P/8 ,%P D8EE K/% C KF C/4 21 #BC B63#"
K /1E /8NE% 16 48%5)86K%16" %EK141KR" P/%D% ;%DE86 6 K8 /O% E%Q P1K/ 5161KND% /8DE% J-# CJB##JC! O/J- B#96BJC 6' JO6
P/%D% /% 8P6E .N6 E/8;> 841 % 4%.44R /O% E%Q P1K/ 6 6154" PE DD%EK%# )K%D %16. N./K 16 3#4 #/4, O6M4"#"< #N#B2
4E8 #1E 8O%D%# 6EK/%K1 6# E 486. E K/% 6154 1E 68K EK16.>
1 /%4 DP)8D# <68" 68K #BC CJ6B3#" JO6 ##-/N#C
END.1 4 15;4%5%6KE> 6% 8) /D5%#"A E1#
166 N8KE48 5!5 86%= 44%.%#4R 8D.61E%# K/% 4" J# 22 J-# -64#Q< MJ-6B/.
/1E O1 K15E 4%DK%# K/% ;841 %" 8) K/%
161EKDR 8) .D1 N4KND%" D%6#%SO8NE 86416% P1K/ E/%D1))CE J/#C -" J6 C-66J J 2#CJ JO6 6'
P/8 /O% ;;%4%# )8D 8K/%DE K8 K4316. K8 D%;8DK%DE 16 %4E1631> #%;NKR ;8E16. E K/% /8DE%CE J-#3< -# /4NC/64 OC 23#"
85% )8DPD#> K K/% K15% 8) K/% @1646# 4%.41E%# %EK141KR 16 8P6%D>/% #%;NKR ;1 3%# N; 64 21 6' '66" /4 262 '6B#CJC<
D%;8DK" 1K PE 68K 368P6 1) K/% 97G9 % NE% 1K PE K/8N./K K/K DP)8D#" H'" K /8%61Q 1D;8DK" /$& ,62 90$(
8#R ;DKE P%D% )D85 M9 #1))%D%6K D151641E16. K/% K PE 68K K/% K883 /15 K8 E%% KP8 /8DE%E 6# ,6 8>+/
P85%6" /8P K/% 56 8551KK%# D1./K PR K8 #%4 P1K/ ;%8;4% P/8 K/%6 DD%EK%# /15 86 %EK141KR
K/% BEEN4KEC" 8D 1) K/% P85%6 51./K EN))%D )D85 5%6K4 1446%EE" /D.%E> +<&<, -$ /*! 2
CJ MJM34! B#C/"#4JC 6' C#N#B.
P%D% #%# 8D 41O%> 8D#16. 8D P/8 D% E15;4R 486%4R> K PE
8$< 7>)-
2 N/22,#C /4 46BJ-O#CJ 9/4 46.
K8 6 16K%DO1%P 4EK EN55%D" J/#" J-J J-#/B OJ#B -" JMB4#"
D%#%D13E86 E1# /1E 16K%D%EK 16 ,6BQ C-"# 6' B#"< 9#M2J/64
1D N5 1E186 EKDK%# MT R%DE .8 23#" #N#BQJ-/4, 'B63 64J3/.
P/%6 /% 5%K K/% 68K8D18NE B;%61E 44JC "B699#" 'B63 #B6924#C
#8 K8DC
:D6 .%> D%#%D13E86 J6 /2/2 92,M#C! MJ B#C#B-
/E ;;D%6K4R %%6 86 K/% DN6 J J-# 4/N#BC/JQ 6' 234
)D85 K/% 61E/ ;841 % )8D E%O%D4 C-6O#" J-# J/4J OC MC#" Q
A
KKE
OOO<'6BJ#4J/3#C<63
"#
-# CM33/J CJ64# 6' '#22
# KKE
OOO<'6BJ#4J/3#C<63
"#
@ ;E 8) 5%K4 )814A 8N4# 48 3 K/% O%6 E85%86% NE16. 5814% 16616.CE @D1%6#E D%6CK %4% KD1 A
%))% K 8) 516# 86KD84> -$ /*! ;/86% 6%D /%D 51./K D16. 86 6 " 6# 4E8
7 7>)- 6;/R4 K1 E/8 3> 8 .8 E/8;;16.
>
KKE
OOO<'6BJ#4J/3#C<63
"#
99#B )S #4J! O-6
"#2B#" -/3C#2' 41BM9J
2CJ
M2Q! 6O4C )K.B663 64.
#$ !
4#J/MJ 34C/64 -# 6M,-J
'B63
/1# QC64! O-6 ,6J B/"
6' /J O-#4 -# O#4J 41BM9J
/4 LSSK< QC64 6M,-J /J 'B63
/J-M4/4 /396BJ.#P96BJ#B
'/4, 41BM9JQ! O-6 /4 JMB4 6
6NDR MT9-" RD16 46J-#B '1# C392#
6M,-J /J 'B63 J-# 41 J-J *Q%D 4416. /15E%4) 6' B#" 3#BMBQ! J-/C 64#
'6B#26C#" 64 /J O-#4 J-# N 5D 5%K 21/#1EK CM996C#"2Q '6M4" /4 B=<
6B/,/42 6O4#B! #403/4 /CJ/! 8556#%D 16 4 R#"
,6J 4/4# Q#BC '6B 'BM" 'J#B RD16 K8P6 6%D K/% K3% K63 516% ;DK )8D
-/C B#2 #CJJ# #39/B# "#. ND31E/ 8D#%D K3%6 8O%D K/% D%# 5%D NDR>
2B#" 41BM9JQ< -/C J1#C R %E/ < = )%P #RE 6
N6% MT9+" ND31E/
MC 1 J6 J-# M/2"/4,AC %D41%D> /% 8556#%D" 6%PE .%6 1%E D%;8DK%#
64CJBMJ/64 /4 85$) '6MB )8D5%D 1.D%KK% O%6#8D K/K ;1D 8) %8D.16E
41BM9J 6O4#BC 64 J-# JB6J< 368P6 E 15E/ <D1 )8D DDR16. D%# 5%D NDR /#
90$( +4 9&= 8>+< B D8 8#14%C=" PE K/% D%CE %%6 DD%EK%#> N 5D
6%P E% ND1KR /1%)> %E/ E1# K/K ND#1E/ .D8N;E
J# 21! KF! -C CJBJ#" 8556# 16
8EN4 /# 8;;8E16. %E/ /# %%6
MC/4#CC C#22/4, #C- : ; 16EKDN K%# /15 K8 ;D8 ND% D%# NR16. D%# 5%D NDR" 6#
26,6 2NJ6BQ 99#B /4 2/,6! 5%D NDR> D% 18NE 6# DD%" K/K 6 EE8 1K% /#
B#24"< 9( ++ 8>+< %Q %;K18644R #6.%D8NE 6# 56.%# K8 8K16 E85%"
%Q8D1K6K4R %Q;%6E1O%" 1KE 864R K8 % DD%EK%# 16
;D8;%DK1%E N65K /%# R 6R 63D %)8D% /% 8N4#
-/C1Q C#4J /4J6 C9# -C 85;8N6# 368P6 K8 E 1%6 %" % D% 44%# K/K /1E 8NE16" N648# 1K> 4E8 16
N6%" K/%
B#JMB4#" O/J- > "/''#B#4J C#J D%# 5%D NDR 1E K/% EKN)) 8) *./K%D )8D
K 40NED" <6 D8 8#14% 86K K%# N 5D
6' C361Q *N6MBC J-J -N# #885E#R #R#D%5E> 8D#16. 40%# )*41K%= /# K84# /15 O1 /KE;; K8 16?N1D% 8NK
46J #46M4J#B#" -#B# 64 K8 P%440KDO%44%# K4%E" EN1K E%0 K/K NED *./K%DE /# K3%6 D%# ;D8.D%EE 16 /1E ?N%EK )8D D%#
BJ- #'6B#!? 6B"/4, J6 /JC E1S%# D%# 5%D NDR #%O1 % 8N4# 5%D NDR PD/%#E )D85 68P0 5%D NDR" NK 68K 486. )K%DPD#E
B#J6B! B /22 M3C"#4< N/2 D%K% K/% 1KR0,KK%616. 4EK 8) #%)N6 K D%%4 .D8N;" /ND 4 R# )%44 K8 K/% ND#E 6#
6' M43JMB#" 32J 'B63 J-# 6N 4%D 85> 40/5" P/1 / K/% 21/#1EKE /# K/% D8 8#14% )%44 E14%6K>
B"#, /CJ/22#BQ 64 J-# 6J. /% D8 8#14% 8))%D%# N; 8O%D;8P%D%# 16 MT9L" %Q% NK16. /% 4%.%6# 8) D%# 5%D NDR
J/C- /C24" 6' C2Q OC C#4J
K8 JM"'TT"TTT <;4NE JGT"TTT 1KE 4%#%DE> % KD 3%# #8P6 %.6 16 8NK 97GGF 161K144R" 1K
J6 J-# 4J#B4J/642 9#
86NE= )8D % / N61K 8) D%# /1E 8NE16 6%D K/% )D86K 416%E PE 44%# BD%#C % NE% 1K 5%
JJ/64 /4 J6#B LS88!
5%D NDR 5K /16. K/K E/8P6 16 8NKE1#% K31 K8 DD6.% )D85 K/% 8O1%K 6186> N58NDE
264, O/J- 9BJ/2#C 6' -BB#"
61< 46J-#B N/2 6' J-# C3#
;/8K8.D;/E /% E%6K K8 N 5D ;ND /E%" NK K/% KD6E K186 8) 1KE ;8P%DE .16%# %QKD
O-/C1Q OC 1#9J 64 J#BB O1 /KE;;> /%E% E/8P%# 6 PE E N;;%D%# P/%6 K/% 8NE16 KD K186 )8448P16. K/%
(B3 '6B 639B/C64< -# 8486. 82% K K/% E1S% 8) /8K ENE;% K%# K/% NEK85%D PE 844;E%" P/%6 K/% D%5416CE
#P9#B/3#4J OC "#C/,4#" J6 #8. N6" ;;D%6K4R 5#% 8) %E/" EP8D6 %6%5R 8)
K D5E ;D8.D55% PE 16 #1EDDR>
/4N#CJ/,J# -6O 3/B6.,BN/JQ 162% K186058N4#%# ;4EK1 " P1K/ 40NED> /% E84% E8ND % )8D /% %4NE1O% EKN)) % 5% K/%
''#JC J#B9#4#C! 6396M4"C /84% K % / %6#> K PE K/% %Q K K/1E K4% 1E N 5D" K4316. K8 4 3 5D3%KCE 5DO%448NE %41Q1D>
J-J ,/N# *N6MB J6 '66"C 4" 413%6%EE 8) 6 82% K K/K 16 MT9L 28ND641EK
/1O%DE 16 ND3%R> K 8N4# #8 458EK 6RK/16.
26-62< 9( *90$0 ( K/% 1/6 %PE .%6 R 16 ND3%R @%# 5%D NDR /E D%# 848ND" E/#R 41%6K 51./K 6%%#! .N1#%
:06$10 3 ,6 8>+< /# 44%# D%# 5%D NDR D8 3%K 6# K/%D% 1E 5%D NDR K/K /E K/% 51EE14%E" E/1%4# 82% KE )D85
PD/%#> 6 K/K E%" K/D%% 848ND 8) #D3 488#" 6# K/%D% 1E D#D" %?N1; D8.N% EKK% P1K/
5%6 P%D% DD%EK%# 6%D RE%D1" .D%%6 5%D NDR" P/1 / 1E NE%# )8D )%DE85% P%;86E ( %O%6 ;D8486.
%6KD4 ND3%R> 1./K )88K.% E%QN4 %6/6 %5%6K" 6# E14O%D 41)% 413% K/% /148E8;/%DEC
E/8P%# 8)* 14E 16 ;D8K% K1O% 5%D NDR 1E NE%# )8D 5%#1 4 K86%> K P8N4# KND6 N; 16 K4%E
EN1KE ;;D8 /16. O6> /% ;ND;8E%E"A E1# * 40*" 6 8) E5N..416. 5*E" NK 6R
;D%E%6K%D #% 4D%# K/K K/% E%1S%# N6)*41K%# E5440K15% E5N..4%D" E5;4%E E%1S%# /O% 16OD14R
D8 3%K 85;86%6K @PE %Q516%# K4316. K8 /1O%DE 16 )& R K/% KND6%# 8NK K8 % )3%" E85%K15%E
R E1Q #1))%D%6K 16EK1KNK186E" RD160ND31E/ 8D#%D> @/% 58EK E85%K/16. E E15;4% E 8D#16DR
16 4N#16. K/% ND31E/ 6%D.R %Q;%6E1O% KR;% 1E 44%# 488# 8) 5%D NDR 51Q%# P1K/ D1 3 #NEK>
NK/8D1KR" 44 8) P/1 / )8N6# K/K K/% 4O%E" P/1 / 1E K/% #D3%EK NK K/% 4%.%6# 8) D%# 5%D NDRCE
1K 86K16%# D%# 5%D NDR> /% KR;%>
.1 16E NE% 1K K8 EN5586 ;8K%6 R 41O%E 86 ( P/14% 1KCE 68K
41?N1# 6 NE% 4D.% %Q;48E186E #2166>A 6 E8NK/%D6 )D1 1K 1E 6N 4%D" 1KCE %O1#%6K4R O1D4> &5-
6# 1E P8DK/ $9 5144186 ;%D 41KD%> %41%O%# K/K D%# 5%D NDR 6
: (/# "%0 7)
(9 7>)-
K 1E NE%# )8D 16K%D 86K16%6K4 % )8N6# 16 5141KDR 5N61K186E" 8D CE D%;8DKE 86 D%#
D8 3%K EREK%5E 6# /R#D8.%6 ;DK1 N4D4R 46# 516%E" P/1 / 5%D NDR R N4 1%O%316.
85E>A /E 4%# K8 E%O%D4 #%K/E> 6 MT9L" <977L="
8R6K /%D2%% <9777="
N 5D 415%# /% /# )8D 16EK6 %" E1Q ;%8;4% P%D% O1# 5416. <MTTL= 6#
P1K6%EE%# K/% K%EK16. 8) D%# 3144%# 6%D DD%" 15P%" KD1 3 D;ND <MTTG=" E%%
5%D NDR E5;4% 16 K/% RD16 R 4EK 16 K/% /85% 8) )1K/ "
"
"
8D#%D K8P6 8) E04016 16 MT9L> /%4%D> /%R /# %%6 KDR16. K8
" >
" KKE
OOO<'6BJ#4J/3#C<63
AA<
EEE4 /9@-@(,:4/,
24'5'065 174 4170&g72 1( #4%*=1.1)+%#. &+5%18'4+'5X +0%.7&+0) # %1..'%6+10 1(
410 )'
%*+/=4#5 70'#46*'& +0 145'6 #0& 0'9 '8+&'0%' 6*#6 9'8' $''0 '#6+0) $4'#& (14 .10)'4 6*#0 9' 6*17)*6T
@@=
DDD4!/:?.?)-;4/-
;;H ,/;- ,( 1;/<4 D(- F<
-/D- H /,,-AA/;< (- B. A;,<
/" D< ;-%(-% ";/, 9/;/-: A/ 9/H'
D%%;;:4& "E/D;(A HI-A(- A&-(5D
F< A/ D(+ D1 (IIH(-% +/-% /,1/D- /"
(-<D+A(-% )A(E< A;(* (-&;(A ";/,
@@=
DDD4!/:?.?)-;4/-
9'.%1/'5 # 0'9 .1%#. )*156 *+5614; (1%75+0) 10 10' '46(14&5*+4' 6190
C +> 0=.J 0CF=J >+0 0C+8F=+0 +C>.# ) (0=C+20 0,2J+0( C)/ 0
2H= J.J H=2C 9 C +> )2HG= 0
0(.+>)/0<> 4F.+=+CJ C)C 42>>>>+0(
2>+20..J +0( C2 C)/7
0 C) .>C #2F= > )F0=> 2#
4=)4> C) /2>C +0C=>C+0( )+>C2=J 0
>2/ 2# C) /2>C #>+0C+0( =.+> +0 C)
4/4).C> 22-.C> 0 /2= .CC=.J 0C+=
22-> 2F/0C+0( .2. ()2>C> )G +>>F
H2=. ) +> +C)= C22 /2>C 2= C22 F.. C2
C- 2F0C 2# C)/7: 5
#=2/ >/.. 4=>>>7 )+.>C >2/ = (F+>
H=+CC0 #2= C2F=+>C> 0 G+>+C2=> C)> H2=->
313167 = F>F..J )+().J +0+G+F.+>C+ 4=2F
2#C0 C)+0- 2# J.J<> H2=> 5+C J .20 FC)2=> .2=+2F>.J 0 F0>C+0C+0(.J
J
0C 0 2.+0 2= +0 C)+= .>>+ C.2(F+0( C) )F0C+0(> 2# C)+= +//+C
% "# " 31@E6 =&C+0( )2H = C+0( H)2..J +0400C.J 2# 0J
#2= C) /2>C 4=C H (2 2FC .+>>#F..J =>=) 2J ./2>C F0= C) >.2(0 ;.2.
F0H= 2# C) /F.C+4. .J=> 2# )+>C2=J ()2>C> #2= .2. 424.<7 )+> +> #2=CF0C
/0+0( 0 >F4=0CF=. .+# C)C G.24/0C >+0 02 % 2= $
>F==2F0 F> C .. C+/> 0 +0 .. 4.> >CJ. (F+ +> 42>>+. #2= =+C+07 2C 20.J
02C 20.J =2>> 0(.0 FC C)=2F()2FC 2> C) )G >F=4.F> ()2>C> #2= 20
C) H)2. 2# C) =+C+>) >.>7 +0 C) 2F0C=J +C )> 02F() C2 $.. 20C+00C7
31C) 0CF=J (0=C+20> 2# #2.-.2=+>C> 0 =C =+C+0 +> .>2 C) /2>C 20C+0F2F>.J
4>J)+ +0G>C+(C2=> )G (..0C.J C=+ C2 /44 = 20 =C) C)0-> C2 CH2
4=2G J.J H=20( C .>C > 20=0> 0CF=+> 2# C) =00 F=GJ 0 G0
C) 2..C+20 2# ()2>C >C2=+>7 2/ C2H0> C) /2>C F=>2=J CC/4C C2 4.2C ()2>C
0 +C+> >/ C2 )G =+) )=G>C H+C) >+()C+0(> >220 >)2H> 02 G0 +>C=+FC+207
=C+0 #/2F> .2C+20> ! >F) > C) 2H= #C0 =42=C> >/ C2 200C=C
2# 2020 /4C20 2F=C . C) =>> +0 =.C+G.J >/.. 42-C> ! 02C 0>>=+.J
=-C +0 +0F=() ./+> >C. ==J 400C F420 424F.C+20 0>+CJ ! H)+.>C
2/=2J >C. +0 G20 0 H>C .=( >HC)> 2# C) /4 >/ ./2>C
J +0 2CC+0()/>)+= ! =2FC+0.J #CF=+0( H)2..J =#C 2# )F0C+0(>7 2/ 424.
+0 ()2>C.J (F+> 0 (KCC=> /0J C+/> )G >4F.C 2FC =C+0 => +0(
>+0 C) +C2=+0 =7
2)0 0(=/<>
;H+02H =>< /2= 4=20 C2 ()2>C> C)0
#" %
" 2C)=>7 2HG= C) =.C+G >0 2#
" " 53'6 C..> /0J 2# C) >/ ()2>C >C2=+> +0 4=C+F.= 4.> /J >+/4.J
>C2=+> > C= 0=H22<> &"" =&C C) >0 2# 0J20 /-+0( C)
" " 531@D67 2F0C+0( ##2=C C2 =2= C)/7
>F) .>>+ C.> 2/> C) C=+C+20
F>C F0C+. =0C.J +>)24<> C2=C#2= +0
//*
222'"(. .)'"
=C#2=>)+= H> 20 >F) .2C+20 2/+CC
#=2/ .. /,2= ()2>C )F0C+0( (F+22-> 0
(KCC=>7 G0 +0 =C#2=>)+= #2.-.2=
C) C2H0 H> 20>4+F2F>.J >0C H+C) C)
/2>C +.+(0C >=)> 2# 2F0CJ .+==+> 0
0H>44=> CF=0+0( F4 >/.. )0#F. 2#
=42=C> C C) (+00+0( 2# C) E3>C 0CF=J7
FC #2=CF0C.J C)+> .0- >42C 20 C)
()2>C.J /4 )> 0 =>> H+C) C)
44=0 2# #" ""
4F.+>) +0 C2= EL3% J .2. =C+>C
00+
/4 C2 H)+) H> 4=+G+.( C2 4=2G+
#2=H2=7 C /20>C=C> ,F>C )2H 2//20
()2>C.J I4=+0> = +0 =+C+0 C2J
0 )2H C)J / +0C2 C) #=+ 2#
2//F0+CJ .+# 0 >)2H> H)C J2F /J $0 +#
J2F >C 2FC +0G>C+(C+0( J2F= 2H0 .2.+CJ7
=>20..J ) .20( >F>4C C)=
/F>C ()2>C> H+C+0( +>2G=J +0 +>)24<>
C2=C#2= )+>C2=+ C2H0 ,F>C '% /+0FC> J
C=+0 #=2/ C) 4+C.7 > )+. ) 0
C2. J C) )F>0 2# /J /2C)=<> 2F>+0
FC)2= 0 =C+>C
00+ /4 )=20+.= 2# C) C2H0<> ()2>C.J .2=7
2# )+> 2H0 I4=+0 >+0( C) ()2>C 2#
H2/0 +0 C)+= )2F> .20( 2020 2 0 H2/0 +0 0 2.*#>)+20 =>> +0 +C> #=8F0C> /0J 4=C> 2# C) C2H07 .+/4>
=.J 20 /2=0+0( +0 31' 2= 31'17 H> )F=)J=7 )2>C.J >2.+=> 0 4C+0 /2>C =0C.J +0 EL3D >) >=G> >
>F= +C H> C) 4=G+2F> 2H0= H)2 (>> +0C= #=2/ C) (+00+0( 2# C) 31C) 0CF=J F>#F. >4(2C #2= .. /00= 2# +G=>
)=>.# +0 C) -+C)07 ) 20.J 44= 20 )F0C C) (=2F0> 2# +0/+.. 2F>7 /0+#>CC+20> H+C)
00+ /4 =/=-+0(
2= CH+ +0( C=C >+/4.J > /CC= 2# .J=+0C) 2# CF00.> >F442>.J =F0> C)C 9 C H2F. >/ C)C C) =J J +>
#C =C)= C)0 0J F> 2# #= 2= H2==J7 0C) C) C2H0 0 /0J F+.+0(> ./ #2= 0J ()2>C.J C+G+CJ: ! G0 F>+0(
F. )=2FI =/=- +0 )+> 22- 2G = C=2F. J 4)0C2/ #22C>C4>7 CH2 4F> C2 >F##= $=> 20 C) >/ 0+()C +0
%
531'6 400 #2..2H+0( C)= 0 I/4. H> C)2> )= #C= C) 31@"
/20C)> )+-+0( =2F0 C) 0C+= 2>C.+0 =#F=+>)/0C 2# C) ..+0 0 +>C= )2>C> 2#C0 /0+#>C +0 )2C.> 0
C)C G=J >>+ C2H0 >/ C2 )G F+.+0( 2+CJ C 2 DE 2CC= C=C7 CG=0> 0 C) 2=( 2C. 42>>>>>
4.>F= (=0> 4FCC+0( (=0 H= 2.+ >F//20 2FC #2F0 02C)+0( FC F42= 02C 240 #2= ELL J=> /.
//2=+. $>) 0 )+4 >)24 =2- 0 /J>C=+2F> >=C) /=-> +0 C) H..44=7 4)0C2/ +0 C) ..= 0 ()2>C.J H2/0
0J&2>> >)24 +0(2 ).. 0 /F>/0C F+.=> CC/4C+0( =02GC+20> H= >= /F== J F=(.=7 )44J +C2=+0 (+=.
= G=+2F> 4F> /J C)C= 0 J 42.C=(+>C ##C>7 2F0> 2# >2/ >-+4> C)=2F() C) = 2# ) .- +20 0
)+0> =>CF=0C .. C) 2.0 . F0-02H0 4=>20 H.-+0( C2(C)= H+C) C) >4C=. -02-+0(> 0 =44+0(> = )= +0
52= >+/+.=67 0 >2 +C 4=2G> H+C) ()2>C>7 >0>C+20 2# 4=>0 = 2# 2F=> C) C) >/.. = +0 ) C=7
0H)+. ) 2-
+>)24<> C2=C#2= +..F>C=C> H)C G=J /2>C F+8F+C2F> 2# /0+#>CC+20> C)=2F()2FC C 2-=+.. 20 #=8F0C J )=.> 0
)F0C C2H0 >)2F. 42>>>> 0 /J C) 7 .. HJ00 0 .C= +- F=4+0 )> +G+. =
#2F0 C)=2F() +.+(0C .2. 08F+=+>7
0J 4.> .+/ =J J 0 >4C=> 0 4=2G+> C) 2002+>>F= 2#
4)0C2/ 2) 0 )2=>> )> 2H0 +>)24<> C2=C#2= +> 02 I4C+20 >2/ )F0C +00> H+C) .. 20 2F. H+>) +0 )+>C2=+
)F=) 2 H)+. C
+).<> )F=) +0 =F/2F=> )2.+0( )= C2 #2=/= 0F0 0 ()2>C.J >>2+C+20>7
4C20 2 )> /J>C=+2F> .- >)4 H)2 2//+CC >F++ 0 H)2 02H ) 20.J C)+0( C)= >/> C2
>)2=C( 2# +> .- 2( >+()C+0(> 5H)+)
= G=J =(+20.6 FC
00+ /4 )=>.#
) 0 F00=G+0( 02F0C= +0 )2=.J 0
20 >F00J FCF/0. #C=0220 4= J
H)C
00J 0.> )> F 0 ;K #C2=
/2/0C<7
00+ ) 0 .+>C0+0( C2 C) ..>
2# =22-> 0 2C)= H+. +=> H)0 9>F0.J
C) 02+> >C244 0 .. H> C).J 8F+C7
CC= >+.07: F0.J #=2/ )+0 )=
C)= / =F>)+0( >2F0 0 .22-+0(
=2F0 >) >H 9H)C 0 20.J >=+ >
2J 2# .- += ! =- />> ! .+-
>)4.>> .2- &44+0( +0 C) H+0 >4
4>C / 0 &J =2F0 C) 2=0= C2H=> C)
2CC( -02H0 > =2H> =2#C7:
00+ (2C C)
+/4=>>+20 C)C C)+> H> >2/C)+0( /.+(07
+C) C) =F>)+0( H+0 +C =/+0> / 2# 0
2F0C #=2/ 2.JH.. 2H F##2.- ==+
+0 " " 531%'6 J
/>
0CH2=C) J7
=
2=.J >=+
.2.> >+0( )F( =- #2=/ 4>>+0( C)/
H)+) >/ C2 >J 920<C #= / #= /J
#2..2H=": #2..2H J .>C 2# H+07 0 ELL'
/C +=C >00C 2#
=
2=.J H)2
C
+).<> )F=)? )2/ C2 /J>C=+2F> .- >)4 0 4)0C2/ .J +0 0 2.*#>)+20 =>>7 20$=/ C)+> > 20 2# )+> (=0#C)=<>
//*
222'"(. .)'"
>C2=+> 5C)2F() /=.J =4C+0( +C 2> 02C
/2F0C C2 0J 2==22=C+2067
+..(> 0= +>)24<> C2=C#2= )G
>2/ 00+G=>=J ()2>C>7 +G 4)0C2/
/20-> 44= C =F()+0( C $G*J=.J
+0C=G.> 0 = 0IC F C2 H.- 20 3L
J
EL3A? 0 4=2>C+CFC /F== +0 31L@ +>
=F/2F= C2 H.- C) >C=C> 2# C020 20
3E 4C/= G=J J=7
)> = ,F>C >2/ 2# C) ()2>C> .2((
+0 #" ""? H)C +> .=
+> >F) >C2=+> (2 - > +0 C) =
H+C) +00F/=. 4=...> C)=2F()2FC C)
=+C+>) >.>7
/20( C) )=/> 2# )+>C2=J 0 +C>
4FKK.+0( .>>20> +> C) =.+>C+20 C)C
=(=.>> 2# ,F>C )2H /F) G=+C+20 C)=
+> CH0 =(+20> C) >+ 4CC=0>
2# )F/0 )G+2F= 2 02C )0( 2G=
C+/7 +C)= 2 ()2>C>7 # 02C)+0( .>
C) I4=+0 2# 44=+C+20> 0 C-0
> /C4)2= #2= C) .>>20 2# )+>C2=J
+C>.# +..F>C=C+0( C)C .C)2F() G=JC)+0( +>
+>)24<> C2=C#2= +> =+) +0
2/4.C.J +##=0C +0 C) 4>C 02C)+0( =..J )F0C +00>7 ) C= +> 02C #2= +C> >4C=.
)0(>7 0 C) >C2=+> )+0 C) )=C=> -02-+0(> 0 =44+0(> H)+. )44J +C2=+0 (+=.
H)2 2/ ()2>C> H 0 +0C+#J 2F= ..* =F0> C)=2F() C) = 2# C) .- +207
C22*)F/0 >.G> 0 H >)= C) >/
.=/ =C+20> > 2F= 0>C2=> H)0 >+.)2FCC H+C) 02 +>C+0(F+>)+0( #CF=>7
C)+= 4)0C2/> =CF=07 2HG= (=C C) )J /2G +0C2 C) H22 = H+C)2FC
)0(> +0 C)2F()C C)02.2(J 0 >2+. 4C)7
2=(0+>C+20 0 +0 )2H H .+G H2=- 0 )2F> 0= C) 2=0= 2# =+. J +>
4.J ) (0=C+20 F0=(2> C) >/ C=2F. J 42.C=(+>C 4)02/0 ./
J.+ 4=2>>> 2# +=C) (=2HC) (+0( F420 C) >4+=+C 2# 0 +=/0 H)2> 4=)FC
C) 0 =0H. H+C) C) >/ 4+C+> / 0C0(. +0 )>C0FC C= C)C
#2= 4+0 0 4.>F=7 ) (0=C+20 )> =>+>C0 0 .>2 CC +0 C) #2=/=.J >C22 20 C) >+C7 0 F0J
+C> 2442=CF0+C+> #2= >.#*>>=C+20 0 #> =C+20> C2 ()2>C.J 4)02/0 20 C) 4=C /2=0+0(> )+.=0<> .F()C= )> 0 )=
+C> 2H0 )2+> CH0 (22 0 G+. 0 2# 2C) >4C+> 0 .+G=>7 C =0(> #=2/ +0 >)24 +0 2FC) C=C7 0 ! G=J .2>
CH0 C/4CC+20 0 C=0>007 ) 0 G2+0 2# )F0C 4.> .C2(C)= C2 C2 )2/ !
00+ 0 0+()2F= )G 0
20CIC )0(> FC C) #F0/0C.> 2# .0-C 0+. 2# C) I+>C0 2# 0JC)+0( 4FKK. J )=+0( 02CF=0. G2+> )2+0(
C) )F/0 20+C+20 G=JH)= =/+0 C) 02/.2F>7
J=.. =(F C)+> +0 )+> .20( C)+= =2 F.**> 5
00+ /4
>/ 2/40+ J C) >/ >>0C+. 4)+.2>24)+. H2=- 531%367 4=>7 2//7 3L EL3%67
.+# +0 C) =CF=0 2# C) 7 92/C+/> C) 4=02=/. +> 4C G0 +# H 002C I4.+0 C) =42=C>
)C)= 20 >> +>)24<> C2=C#2= > #+=.J >+.J > H)0 #2= I/4. C=+C+20 2# .2. ()2>C> H 0 F0=>C0 C)+=
-=24 F420 H)+) #0C>+> = +0( >F442=C> +C 2= H)0 +C 2/> )+CF. 4=00+. 44.7 )C 2F= .2>>C ()2>C
4=2,C 2= 20C+0+0( /0J C+G 42=C.> > +0 C) > 2# C) 4=00+..J )F0C >C2=+> 2 +> 200C F> H+C) 2F= +//+C
C2 H2=. J20 C)+> 20 C) F020>+2F> )2F>7 0 >F) >> C) 4)02/0 = .2.+C+> 0 C) 4=2>>> H)+) >)4
/+0 2# )F/0 +0(> >/> C2 C H2=-7 C22 4=>+>C0C C2 0+ >2 C)J = 0 #2=/ C)/ 0 C)F> H+C) C)2> H)2
2= >4C+> C) F020>+2F> 2= >F.+/+0. =H0 +0C2 C) G=JJ H2=. 0 >2 #= > )G (20 #2= F>7 >4+C C) .+/ C)C
/0C. 4=2>>> /J ./ #2= .. 42>>+. 02=/.+>7: 2= .+G=> C)= +> ()2>C >C2=+> = >4+>C .+C=CF= +0(
=42=C> 2# ()2>C.J C+G+CJ7 ) H=+C= 0 +0>C+0C+G 4=>F/4C+20 C)C >4+=+C> 2# C) C2. C)C H = >C44+0( +0C2 )F0C
+0F0 +0 " = C H2=- I/4.+$ +0 C) =J )2F> 4=2G+> /2>C +=C +/4=>>+20
#"# "% " 531E6 C)2=+> 24C+20 2# 0 020J/2F> =J J 20* 2# .2.+CJ7 )C)= 20 +> >4C+ 2=
C)C ()2>C> H= 4>J)2>2+. )..F+0C+20>7 .+G+0( )F/0 +0( +0( 4=>0C7 .+G= C) /2C+20. =C+20> CC0+0(
C 02 20 )> (2C C) >.+()C>C + )2H 2= >4C+> =C+20> G=J #=2/ 2FC=+()C C) .+/ 4. +> ;)F0C< .> C2
4>J)2>2+. )..F+0C+20 24=C> 2= 0+. C2 C) (F..+. 4C0 2# 0J )+()C0+0( 2# H=0>> 0 4=4C+20 2#
+0 4=C+F.= )+G> C) 4)J>+. ##C> I4.0C+20 H)C>2G= 4=2G+ +C #F0C+20> C+/ 0 4.7 F) >C2=+> 0 >)=40
2# -02-+0( 4+CF= 2## C) H.. 2= /2G+0( +0 =>C2=+0( 02=/.+CJ C2 C) >+CFC+207 0 #2F> 2F= >F,C+G >0> 2C) 2#
#F=0+CF= =C)= +/4=>>+G =>F.C #2= 2C) .+G=> 0 >4C+> 2#C0 >/ 2F=>.G> 0 2F= /2=C. >+CFC+207 0
/= )..F+0C+20 C2 )+G 4C+0( 2# I4.0C+20> #2= I4=+0> 20 C)2=J 2# 4>J)+ 2F==0> +> C)C
=2/ 4=02=/. 4=>4C+G (22 20 C) &+/>+>C 2# G+0 2= =>20+0(7 C)J = CF..J >+(0 C2 C) 2F=
> #2= ()2>C I4=+0> +0( .+0- H+C) J==.. >F//=+> C)> =>420>> C2 C) CC0C+20 C2 H- F> F4 +0C2 )+()= >CC> 2#
C) F020>+2F> /+0 0 .>2 /7 4=02=/. > #2..2H> 9)0 20 2/> H=0>>7
0J ()2>C I4=+0> 2F= C 0+()C H)0 C2 C)+0- 2# +C C2 0J C2 & #=2/ 0 C2 /+ C) (FJ /+0+/.+>/ 2# C) (.2.
4=4C+20> 2# C) F000J >/ C2 =+> F4 02=/.+K = C)= HJ> 2# #=2/ G+..( +C +> .. C22 >J C2 +>C=C J
0 = 2#C0 .+0- H+C) =/+0( >CC>7 C) 4=02=/.7: >C2=+> #=2/ #= HJ 20=0+0( C) 0C+>
) /0C. >CC> 2# +0+G+F.> >/ C2 FC C)= +> 02 >4+0( +C7
F>C >+I H-> 2# 424. H H+.. 0G= /C7 J 20C=>C
+0&F0 C) >+()C+0( 2# 44=+C+20>? H)0 #C= C) 4F.+C+20 2# )= 22-
00+ /4 .2. ()2>C> 4=2G+ .2>= I4=+0 0
+0+G+F.> > ()2>C C)J = F>F..J 02C =+G C+.> 2# JC /2= C+G )F0C+0(>7 0((/0C H+C) 2F= 4=>0C /2/0C H)+)
C)+0-+0( 2FC 0JC)+0( +0 4=C+F.= .C ) =J J )> 0 =42=C +0 >C. 0 20.J (22 C)+0(7
.20 ()2>C> H)+.>C H2F.* ()2>C )F0C=> =0> +>44=+0( +0C2 )(7 (=2F4
>.2/ G= =42=C >+0( 44=+C+20> H)0 2# 4)0C2/> )G 0 =42=C H0=+0(
3 $
4=C++4C+0( +0 0 +0G>C+(C+207 =2>> C) 3EL 0= C) C
+).<> % !*4*4!+#0& ) 1 ("
)CG= 20<> >C0 0 F020>+2F>
=2F02FC 2FC 3L4/ 44=+0( +0 )."(3 ()) -!'!!
DD@
HHH7#2=C0C+/>72/
!%
>. 9>E CE A,>'* 09> .,>8.**89 ) 90'89 9>>8 8.A, >%
>)* >% .A>8)3% 90'9 . 9 **.C7, .8>'.,93
'9 >%.A$%> >. %B 88'B ', >% 8.9A>',$ *CE8 .%, ,,>>
> .84AE B., 9.+>'+ 9' %8'9 %'> ',.8+
.8 /;- %'>%',$ 8' C'>% .>%8 +0*.E9 >%> % C9
,,9 8.+ '8 .8 >% 5>%*E 8' . 90'896 .8
,8E 9*,93 .8 +.8 >%, >%8>,',$ >. 9%..>3
,>A8E *9 C'.C9 C8 >%> %'> 99A8 %'+ >% $A,
., , >. >% 8 9.A>%&C9> A> % % , '>>,3 94AF 8' ', .*)9C$, +08 B, C9 ,.> *.3% 9A90,9'.,
8 908',$ ,.8>% 9 C',>89 .A> 9 +A% 0.'9., 9 % .A* // +.,>%9 8*'8 C9 '9.B8 + 9B8* C)9 >8 >%
.+ +'*8: >%8 C8 >C. A> %A$ 9>'., . 9)', >A8, E +%,' C9%',$ >% ',',> A9 +0*.E9 C8
9'$%>',$9 ', ,.8>%8, .>*, *) 8.A, >% '> .B8',$ B%'* > $8$ ', >8,9%+ 9>'** A09>3 "# (
*9> E83% 8%,' '9 .A> >% A** C'>% . %'9 ,) , ,8 .89>83 > C9 >), >. ) , *.!
>% 9'F . !G0 .', , '9 >% +9A8',$ +.8 >%, <', 1/!+2 , *8+ >,) > >8>.8
+.9> ,$8.A9 . >% /@ 90'9 8.+ >.0 >. .>>.+3 .8 >%, A>>8"E 8+3 *% + *.3 s ,',$8' 9+** 8+.>
. '>',$ 90'8 ),.C, ', 8'>', C) *>8 >% *), 9)', >.C, ?GG +'*9 1#G)+2 9> .
1>%.A$% ,.> 8.A>',*E *E % 0* . A> >% 8 C9 s 88'9>8 .,>%., .$$ #G 8C', ', A9>8*' C9 ,. 0*
*') E.A8 >A* *) C'.C 9>'** 8&8C , + >A8,',$ %'9 8.+ +, ,.8>% .,., C9 .8 8%,.0%.9 *9> A,
90'823 E+0>.+9 , ',*A % ' A*>3 !
*& ( *.! "E',$ 8.+ .% >. .A>% 8' C%, +.8 >%, @!GGG B,.+.A9
9B8 9C**',$ %9> 0',9 , C'>% >8 '8CE9 *9> A, >8,>A*9 9A,*E 0083 8
>',$*',$ ,$89 C'>% >% 9B8'>E s 0'89 >A8 4A'> *.> ', C%, % C9 '>>, E 8.C, .8> B, 9>A'9 >% 90'9
0,',$ ., >% +.A,> . >% ,C9 A8',$ @G/!3 , ! A, 8*A9 90'8 1-## "+#
2 89> ',>' ', @GG< , C9
B,.+ ',(>3 +
"
!
, *' 9A08+8)> ', ',)*E *9. ),.C, 9 >% *) +E9>' E >% 0*$A 9E',$ %
, *.! '9>89%'8 C9 *.9 >8 .8 B'.*', 90'83 5% 0', C9 ,.8+**E ,9 .,*E >C. .8 >%8
,9> . >% C.8*79 *'9> *') ,.>%',$ 7B , >%8.A$%6 %A,8 ', ., 90.>3%'8 '> '9
s *9 C'.C 90'8 '> +*' 90'8 C9 .A, ', A,% . % 9'3 5E >% >'+ $.> >. ,.> >* A> , A9 %.A89 .
'*9, /? ., %8 %) 9 9% ,,93 +'*E >%> % .A$%> %.90'>* +E *$ C9 A89>',$ .0, B.+'>',$3 !""" *& + *.!
9*0> > %.+ ', 8.8 ', >% 8A'> .A, 90'8 $$9 9 >%8 C9 0A9 '> C9 *)3%E
*> >.83 % C.) >. , >%E A,0) >%'8 9%.00',$ >.* + ' % , ,E *>8 s % , 8> 90'8 >%
79
>C. 0',A* 0A,>A8 +8)9 , ** 0.*' .8 "',$ C.A* %B *.9> +E *$ .8 B, *8$9> 90'8 C%'% , $8.C 9
, C9 >), >. %.90'>* C%, >%'8 %.+3 '**' D08>9 '36 A8$.,9 % >. A> CE '$ 9 >% 0*+ . %, , '9
%8 %) 9C** >. >% 9'F . ',>' >% $$9 9 >%.9 . >% *8$ 08> . %'9 *$ C%8 >% * >. > 9+** 9% C9 > 8'9)
$.* **3 % C9 '$,.9 8F'*', C,8',$ 90'8 1$,A9 B,.+ % >, >% "9%3 . D>',>'., 9 8,>*E 9 @G/G
C'>% *'&>%8>,',$ **A*'>'9
+("
2 A> C8 A,* >. C9 *> C'>% $0',$ %.* ., A> '9 ,.C *'B >. ,A+8 ',
0 9)', ',>'.,3 +.,>% , , A*> *',$ >. 89 '> >% 8.,> . %'9 9%',3 90,> >% >%.A9,9 .**.C',$ C.8) >.
8*'8 .A8>,E >9 @G C,> .A* 9>'** ', >% 9A08+8)>3 +.,>% ', %.90'>* ', .A>% 8' ',>8.A >%+ >. 08>9 .
.8.*)
',>. ,0%E*>' 9%.) >8 98% . 9B8* %.A89 '* A,8$.',$ >%8 .08>'.,9 , A.*)3% 9+'&4A>'
',$ '>>, E *) C'.C >. , '> 1.8 >%+2 9. >% 9>.8 , 9)', $8> 8.+ %'9 >%'$%3 90'89 C%'% *'B ', '>%9 ,
', %*+9.8 A> C9 9B E 8.0,3 ,.>%8 ..., . !
(" ). ( *.! 0..*9 ', C>*,9 , *E A0 >.
+'93 + !
* ( *.! 8F'*', C,8',$ 90'8 $$9 ;GG $$9 ', 9',$* 9 *>%.A$%
C9 .A, ., ,,9 .A$%> > s , 8%,.0%.' +.>.8'9> B8E C 9A8B'B3%E 8'9 >%'8
s A,'* ?? C9 '>>, E , *, 9>.8 ', B., *9> 9C 90'8 ., %'9 A* >,) E.A,$ ', 8E9>*&*') 5,A898E
*9 C'.C .A> >C. E9
.B+83% B,.+ 8.+ >%9 9 % C,> >. ** A0 > 0>8.* C96 C%'% .,98B>'.,'9>9
>8 9
'*9,3 % (A9> 90'89 , )'** ', >C. %.A893 > 9>>'., ', ,>8 ', '%'$, .A,> >. +.,'>.8 >%'8 ,A+893
$>%8 C9%',$ 8.+ >% *', , *9. A9 0',A* .A8&%.A8 , ' >. A9 *'$%>8 >. > , 9'> ,8 >8A+09%C
', %'9 +'*E79 ) $8, ', 8>'.,9 , '9 ',$ 9>A' 8+.B >% .,',$ 8'>>83 , ', >%
.8.*) 8.9 C%8
8,.8 C9> .,., C%, 9 0.>,>'* A8 .8 8>'* *+9 4A')*E ,B*.0 >% >% 90'89 C8 ',>8.A ',
0', *') >%A,8.*> >.8 E9A,>'.,3 !"
& +$ 0>8.* 0A+0 1, 089A+*E @G/@ #G ,A898E C9 C8
>%8.A$% %'+ 8.+ >% ) . + , *.3 >% 90'823% ''.> 8+ .A,> ', @G/! A0 8.+ /# >%
%'9 % 9,',$ %'+ 98+',$ %'+9* >. 9.+ D>,> E 9C'>*E E8 .83
. , >. C.88E
',..893 > C9 .,*E C%, %'9 s , A$A9> $,A', 1,.> *92 0A>>',$ .A> >% 8 C'>% , >%.A$% >%E 8 %8+*99 >.
8.>%8 0.',> >. 90'8 *) C'.C 90'8 >%> %'>% D>',$A'9%83 +
"
* ( %A+,93 !"
+ ) (
., %'9 9C>9%'8> >%> % 8*'9 !GGG&+'* 1GGG)+2 >8,9>*,>' *.! *.!
CC>
GGG7#1;B /B*. <71.
!
" ""
! %!&
# B( $F <4 * < 1# ;(*/1 ;1< -*F B1I
BG1 1# B( . 5B( '; B /*/ / B(
F/6
( BI4*--I <41;B< 1/ (1;/ / B(
1B( ; B(; 5B( E.B;/ #;*/ G(*B
/ #;*/ -,6 ( BI4*--I <41;B< BG17
;I ;; -I (1G F ; H 4B*1/< B1 B(*< ;E-
;*< / 1/ <E( H 4B*1/ (< -B -I
/ /1E/B ; / 4(1B1';4( */
.**:< B1<( B*1/- ;, I >C)I ;)1-
*. *<1/7 <( G*/' *B< <4 * <: /1;.-
BG1)(1;/ 1/*B*1/ 5/ -<1 *B< BH1/1.*
/. 6 B( E-B -, ;(*/1
#$
#$
5B;/<-B*/' < 9BG1)(1;/ BG1)(1;/ :6 */
8E <B*1/ -<1 ;< <- / ; EB *<B*/B*F
#1;G;)E;F*/' B(*; (1;/ <4;1EB*/' #;1. B(
@
/B; 1# *B< ;1G7 B< HB; (1;/ G1E- /1B
E< B(*< ;(*/1 ;1< /I *<1.#1;B= / *#
; <E-B*/' #;1. /1/)' / B* F -14. /B-
/1;.-*BI 1E;;*/' G( / B( ;(*/1 G<
#2BE< *B G1E- /1B */( ;*B I /I 1#
*B< 1##<4;*/'7 # E< I .EB/B ' /
(1G F ; *B 1E- */( ;*B " B(*< -BB ;
<*BEB*1/ 4;1-I H4-*/*/' G(I B;*4- )(1;/
( B(; )(1;/ -, ;(*/1 </44 I
-, ;(*/1< G ; 1/ 8E*B 1..1/ ;1E/
*. *<1/7
( / F - //I (< -1<B *B<
.*:< , 1E/'7 ;I4B1J11-1'*- 1// B*1/7 #*;I 4 /'E*/7
..."
0
"
"+&.$&
#(
))2)&
+(
(
#
#$ #$ !!#0$ +-
$ I ; /( *(B(I1-1'*<B
/(#0#
#
$!((
1
## ; ;/1*< (;1E<<< B < E41/ BG1
("( )
*2 " <.4- <4 *. /< 1# B(*< <.-- $<( E'(B
*/ B( ;*B* 1## ;1B*7 -I (1G F ;
*B G1E- /1G 44 ; B(B B(*< (1/1E; (< /
B;*B*1/--I B( < B*/I 4 /'E*/< (F -- 4 /'E*/7 ..."$
/"
&#$
#
#$,
/ B(1E'(B B1 -1/' B1 1/ / B( ,(
(,
+$(#
,
,.,1
,
<. <4 * < B(;1E'(1EB B( *; /B*41 / ((,!+$,
#,$(
(,$!
$ % %2
*<B;*EB*1/ ;/' 7
*2 "
CC>
1D/B= (/> . .H
-B>=> / >,
7D*, 7D>B*1/6 9(B 1
H1D B(*/, 1DB F*B(=#B8: (
(D,->6 9*B(> =/<B =-6
#.*/*>B> / 1B(= .='*/-*>
'=1D3> 33=13=*B > E*E*
1D/B=D-BD=- (=1 $'D=6
*B*.*> / D> F*B(>
*B(= */<B 31>>>> 1=
1/<B -*E */ B(.:6 >.*- >*.3-H *'/1= B( B=*B*1/-
/ >F*>( .H 1/BB->> *B =7D*=./B> 1# 31F=? E/ B(
= 1E= B( .(*/ -*, (11,)/1> (' ( B( 31F= B1
F/6 9DB H1D<E / >=E*/' (--/' / B==*#H DB(1=*BH6
B(. -- .1=/*/':6 ( 31*/B 1DB '/= '*E> D>
/ >( (>6 <= */ B( .1>B F,F= .1./B 1# B(
B( #B=* 1# 1->.*B(<> H F(*( 1.> D=*/' 7D>B*1/
1--' */ 1/1/ F*B*/' #1= B*.6 (*B >H> ( F1D-/<B F/B
1/#=/ B1 >B=B6 (= B1 >3, #1= #.*/*>B> >*/ (<>
= >1. CJJ 313- .*--*/' ./6 B<> 3>>*/' 1../B
1DB */ (= " #1=B/> DB '=D.-> */>B/B-H =*33-
>3B*> #1-,-1=*>B>6 / 'DH #=1. #F =1F> ,6 9(H
>BD/B */ (.*>B=H H1D >3, #1= F1./8:
>H> ( *>/<B >D= F(H (<> /1B(= (*3> */ 9(! F(H
(= " ( +D>B >31BB B( /<B #.*/*>B8 (B =
*/ / />F= B( --6 H1D
H B(B8: B<> ,/)
DB ./H 1# B( =>B (= B1H +=, D>B*1/ 1# >G*>. B(B<>
= ;3=B*B*1/=><6 D/>=E6 (*B (/-> *B
( F1./ B B( F-- G3=>>*/' (*> 1E*1D>
1D/B= *>/<B >= H B(*> >D331=B 1# 7D-*BH6 DB *B<> F(/
*>1E=H 1# F*B(>? >(<> ( >H> 9 <. +D>B (= B1 B-,
.D>6 <E B=,, =1>> 1DB F*B(>: B(B .1>B 1# B(
1/1/ 1/ (*--H
1E.= -BD= (-- 33-D>6 E=H1/
.1=/*/' #1= B( -B>B 1/#=/ =B(> '*/ / (G> =
=D/ H 4( >>1*B*1/ E1*6 (1D'( > -B=
#1= B( */B*$ BDH 1#
/ $& (/&!0+
/%!&
(&&=+
6& (>$ *>1E= (G> =/<B =--H
/1.-1D> (/1./5 !6+
#! !/+
#1= F*B(> /HFH6
F(1 (E / 9*/E>B*'B*/' 1 #= B( >3,=> (E
B( F*= >=*1D>-H 4/ B( (=*>B*/> F=/<B +D>B *##=/B? *>'=> *B F> B( >*/B*>B> 3*/B =1 >F3> 1# F*B(
>=*1D>-H F*=5 >*/ 20 2:6 B(H F= --- F*B( 1.*/1D> B(B * *B6 (=1D'( .*GBD= 1# (*>B1=H6 / 1/B=>B = -/
1H<> 1/#=/ ;=*1D>-H >1D/*/' /.> -*, ;*/$->< (*>B1=H / (D.1D= ( =BB-> 1## 1=/*>( I=1> */ 1/ >*/'-
F*B(< (> >E/ >3,=> 1= ;(B(/< 4./*/' (B( B( .* =/B*-> 1# B( 1=/*>( G.3-6 '/ >H>
-*/ D3 B1 >(= E=*BH F--= >1.1/ F(1 1>/<B F*B()(D/B<> =(*BB> -*, B( B(B
1/ (HB F> F*B( F(1
1# 3=>3B*E> 1/ F*B(=#B -1/'65 =1. B( =D>> 3=>*/B 1# =E= /=> >D##= E/ .1= */*'/*BH
/*/B / .1=/6 / B( -*'/>*/ =>H B1 B(= / (*> #B(= 1BB1/ */ B( B(/ -*#6
1B 1/-H F>
>(D#& */B1 B( -BD= B( /7D*>*B*1/ H 3*/B> 1B( F--)=>3B */B--BD->6 (= >,-B1/ 1/ F(*33 1DB
=11. F(= >*B =*'(B B B( (*--*/' 3*BD= 1# / '=/>> ( -1=B F*B( B>B> F= B1 >3* D3 >/ DB */ B(
#=1/B6 (=<> =*# */B=1DB*1/ B1 $/ /. 3D/*>( / >B=1H >*/ '1/ . /1B #*B( 20@J> >( F/B 1/ *>3-H */
DB B(/ *B<> >B=*'(B */B1 B( (=>H6 / *# B( */$-> 1.= ='D> / ( #=7D/B-H B( D>D. 1# *B(=#B */
$=>B .*/ >3,= 1=( (33/ B1 #--1F (=*>B*/> ./B*1/> B( ./H -1- -=*> 1>>B-6 > -B= >/>*B*E
H *B1= 1#
6 >1 *B6 H >B> >/ 1# F(1 F= '*/>B B(.6 /> E*>*B1=> >*
1/<> >3*=*B */<B
( #.1D> F*B( B=*-> 1# B( =-*'*1D> 3=/1* / 1=31=B H F=/*/' B( F*B(> 3=>/B -*, */' 'F3 B6 ( /
2%B( / 2@B( /BD=*> */<B '= " B( 3=#B > #1= B1 >BH FH #=1. B( >*/ =>B6 13- >B=B =.*/'
+D>B >3=*/' 1DB 1# EDD. >( B( -B= F*B( B=*-> B1 '=1F #=1.6 #1D> ..=>6 B<> 1# (=6 = 1#$/ -* F1D-
B--> D> #1= -H*/' 1DB B( (/ *B<> (=*>B*/
/>/ #D//H B(1D'(B)3=1E1,*/' >>>*1/6 >1.B*.> -1> *B>-# " >3B=-
(*>B1=*- 1/BGB B(B - B1 B( 1.= F(1> E*F 1# B(
GB D3 *> ( >BD/B >*'/ 1# =B=B6 ( $/--H '1B (=
F*B( ./*6 B<> =,/, F*B( B=*-> *> #>*/B*/' / B(/ 1H- (*B F(1 >,> F*>( / F> =)D=* */ 2000
=1.3 B(=1D'( =-*= /BD=*> 1/B=1E=>*-6 ( F*B()(D/B> F(H /H1H */ B( CJB( /BD=H (= B1.>B1/ =*/' 9
1
(=B*/' B( (D=(<> '=1F*/' = D>D--H -. 1/ ,F= F1D- F/B B1 1F/ B( /'B*E 1/'= D>:6 ( #B B(B
-1E 1# .=B*1/6
1/) =-*'*1D> I-1B>6 1.= -- 1# F*B(8 ( F1./ F(1 B(=<> /1 =- E*/ B(B
1/
772
<<<+(/6&6!%0+(%
+)" #)" & + ) "*%
313-<> .*/> / */&D/> . HB6 / >( DH> (= /->
+ 96 6> ! & 6> 06!$$ (+
/B*= 1..D/*B*>8 9B1=*> */ ,6 *=<> >>>*1/ B(> .
(*>B1=H: 1=/*>( >H> >1.B(*/' E*B- 1DB F*B(>
/ F1/=> *# 313- = B11 3'/> / =D*>6 (H<= >
9F*B( H B( 3=1.*> /1=.- > B(H = D/*7D6 <<<+$!;0!&+(%4)3 /6 <!6 0/# &/+6%$1 <<<+
1# ,/1F- (*>B1=H:6 (B 1D/*/' 1DB B( H %&+(/4$/&4*40/#0:/>04/:%>64%>6:*3+6%$1
B1 >1. >3B*> 1E= 1## F (E #1-,-1=*>B =, <<<+0/#0;/0+(/4&496!(&4!($(>4%>6 0/#0 (& 6
#B=F=>6 (H =/<B 1/E*/
1=./ F(1 1/B=>B> B=*B*1/- 6 &/41 <<<+0!&8?+(%40!&:*/!04906!&:
H B(*> (*>B1=H<>)F(B)H1D).,) F*B(=#B 1# B( 3>B F*B( B(B 1# %/!&:%>60:0/#0:(:6:&/ 3)?'1 <<<+,9#<6+
*B *? DB F*B( B--> . *B<> B( 3=>/B6 / B( 3>B B( -1- (%4?(&09%/96!(&4
<040/#+6%$
(= #E1D=*B >>>*1/ 1# B( H6 F*B( 1= ;D//*/'< 3=>1/ 1##=
( , #1= /1B(= B( ;>=E*< 1# >3-- >B*/'6
( >BD/B (=.*/ 1//G ( . -*E*/' #=1. *B / */
F(1 (> >BD* B( ;=D->< B=.> 1# E=B*>*/' B( E*--' & %!$$!(&0 ( /6!$ 906(%/0 /(9& 6 <(/$ /$$> 0(
1# >3-- F1=,6 3--> .D>B/<B F*B( ( *B >H6 1D< $/ (= </(&- >(9 #&(< <> 6>./ &(6 ( $! %&!&$> (;/ 6( .0
(=. /H1H? B(H /<B */ B( $=>B (1D> 3>B B( 1, $66/0 * & $6 90 #&(<+
>B F*B(1DB B( =*3*/B<> B= /= B( =11, 3=B 1# B(
3=.*>>*1/? / *# >3-- *> >B=.6 (> H> F*B(> =/<B
>-$>( 1= ;.<)#1D> *B<> -FH> -1--H 3=1.*//B6 1 -*, .1>B
*/33=13=*B6 1/>*=*/' < B(*/'> B( =#B (> '1/ 1/-*/6 6.0 <$$ #&(<& 66 9/!& 0
<6(&.0 6!%
0 %/ ( /$!%&6 (&$> 0*(# !& 6
3=H -*, . B(B .1=/*/' =(3> B(=<> '3 */ B(
%/ (& & 66 <0 6( /,906 6
B(B .H /1E- F1D- 'B .=,B #1= >*B -- ;*B(
$(0!& ( <!&(<+ 6.0 <$$ #&(<&+++ 96 (0
3D-*>( *B .,> . F1/= E*>1=<
1=./ >D''>B>6
&>(& 69$$> ; (&6%*(//> 0(9/
F(B(= F*B(=#B .*'(B #B= 3, H *B<> F*/ (/ !6 (/ !0 !6 "906 &! 06(/> /%(&!$$>
#*= *B .1= -B=D*>B* B(/ B*. / (/ B1 -D'( / *00 (& /(% !(/*/ 6( !(/*/-
(=*>B*/*BH6 1//G .,> (B 1DB -- F<E (=6 DB 6 $66/ </ ! !6 06/6-
. =-*> < ., =33H .1>B-H *B<> -D'(B= > >3B*>
F*B(6 = >.-- >.3- 1# (=*>B*/> (.*>B> / (*'(
*'(B 3=B**3/B> *>/<B GB-H 3=*>B> (/' 1DB / =*/,
=3=>/BB*E 1# F*B(=#B B1'B(=6 *B(> = >=*1D>-H
> F(1- DB ./B*1/ 1# =- / >=*1D>-H #>*/B*/'?
(= D==/B >BDH >3=,> .D( / B(/,#D--H >=*1D>-H
*/B=>B6 (<> (=B*/' B( '/=1D> F*B( B( =666
$
772
<<<+(/6&6!%0+(%
"
GGC
KKK9$3@F 1F,0 A930
"
A,0,/@,F, A ,1 F* ,@ F 06 @0 1F
1 KM 3$ 3,1) F*,1)A= 1 *
/3F 03@ ,1 30031 F*1 F*
A FA 3$ $@F @1/ FK,1A @3I)*F I6
F3) F* @ K*3 K @ /A3 AI- FA
3$ F* ,11 A3F AFIM9 3F* @
0)N,1 A . F3 $@31F 1 F*
1,1)A 3$ 33.A %@AF9 3F* KA*
F* ,@ *1A 1 'IA* F* /JF3@M
3F* $3@ 1 $F @ IA,1) ,F K3@
F,)*F F*,1) F@I1.A 1 *
*,F 3$ %) F,1) K,F* F*,1)A /,.
@I @ 1A 1 66 @/,6A9 3F*
IA F* $3I@F* 7@,1)8 %1) @ K* 1
A@F*,1) F* ,@ * A /3J A6,M
$33 1 ,66 IFF @ F3AF ,1F3
F* ,@ 3$$ 9 * M 3F* 6@ $ @@ F3
,1 /31 ,1 @ AFI@1FA IA
F* M /,. F3 @ 3J @ 0 /A9 $3@
F,1) F* M K3I/ / @ F* F/ A 3$
// LF@1 3IA ,F 0A9 3F* K@66
F6 @3I1 6 1A 1 6 1,/A F3 ) F
FF @ )@,69 * M /A3 A*@ F*
,N@@ *,F 3$ A1 N,1) L6/3A,J /M
,1 6I/, F3 ) F FF 1F,31 3@ -IAF $3@
/I)*9
. 0,FF F %@AF F*F F*
A,0,/@,F, A K,F* A.@ ,@@,FF 6!& ( !1 "1- 1-$3 1 !$31
1 >I11 @J ? *,0 0.,1) *,0
$ / A ,$ *,A ,1,J,I/,FM * 1
" 1" 61 1-$3 1 4" $- 1 "3.
51 4-7 11 1$31 4" 1$ "1-4""
F. 1 KM9 3K J @ A F* AFIM " $ 1 !$.1 61-$-"-7 $ $- $-".) $3-1 $5 $ 7$3 1 1 ." $31+
6@3)@ AA F* FK3 0 1 0 F3 3"4-. . . 1 11 "! . 4 1- - 4-$3. 1"*3./ $54-
@ 6/M $3@ 31 13F* @9
3F 51" 3.) . 7. $ $3-. "! . $ 4 !7 &-.$" 4$3-1 . 1$ .1" -$!
J @MF*,1) KA K@,FF 1 ,1 F* ,@ ) 1 A9 51" 3.) 4 3.1 ". 5$-!" $$ $- 1- $- $3- 7. " 51 $- 1
. 1 A.@ 1 J @ )@ 31 $" $ !7 -" " " ." 1$ .1-4 1" " 7$3-
,/ AF @1 63/,F,AB
1M )/ 51 ." ". .5- &$.... $7 '1 &- .
3I*@?A 3+@ A @* @ A@,
F* 0 A *J,1) 1 < LF@3@,1@M
1$ 11) 31 1- .
5 1 " $ $-.1 4
51 6$-.! - .1-"(
3&. $5" $4- $5 $
/3J +*F @ /F,31A*,6999 * M K @ -!$- . "$5 1-
! ) ". $4 ! .$"
@ 6 // 1 $A,1F M *
3F* @9= *,/ F* M 3F* @ //
& "1$ "1*317 11
.". '" " .$! ..
$" 7 1$ 5" " 3"-7 -$!
1. .1 7$3- -."1 .-&"1
A *,/@ 1 ,1) *I1F M -$. 1$. " 8-.( 4
5 . $31 $ 1 !$31 1$
-$! 1! 1$ 1! 1" 3& &-1)
1,. 5" .$!$"
1,)*F0@ A F*F F* M 0,)*F 31 M
0 F A 1 0, A 31 F* FF/ % / -." " 1 3!" $7)
. 1$ - 1 11 3-
F* M )3F 31 FF @ $F @ )@ ,1) F3 1,. & 7 $" $-
.$" 51 1 -"$""
$- " ! . 57
J3, F36,A AI* A K@ 3@ @ /,),319 ") $3" . 7+ 4
. @ // A.@ AM,1) F3 *,0 < $ &."1 $- 1 $!" & 6!& . $ %#1"13-7
K * 1 AK,F* K3I/ *J 5$ . $"4" 11 ." '1 !$.1 $1$-. 1" 1. -&$-1. .-$3. 7 "
1 F*
K 1 M3I K3I/ *J $!!$" $7 "! ( . 5- " -$3" 5 4 .. $1" 1- $". $ &$&
1 F*
N,9= * 1 A.@ , ". !) -.1 $5 1 1 1-+
- 4" 17 -."1 .". 5 "1$
3$ /I1) 1 @ ,1 522C
. KA - 15$ $!!$" 6& "1$". 1- 1 1 291 "13-7 " 3-$& " 1 !-.)
JAFF IF ,1?F FF 1 F* 3"$-13"1 -" .$! 51- 51 . "
" *3.1$" !3.1 &$&
$I1 @/ IA * /33. A3 0I* '5 1- 1( $- . &1 51 . 4 1. 1".) - 1- - 15$
/,. *,A @3F* @ * $ @ ,F K3I/ !$31 $&") $" $5 "$5 1 5. $4$3. &$.. 1.)
-&. 1 ."
,AFI@ F* $0,/M9
. ,A AI@J,J 1-+ 7!&1$!. " 3 ! " 1 1 ! " 6& "1$" $- "- $- $1-
M *,A A 31 K,$ IF* 71! )8 $- 1-. -$3" ". . "" !$- 5.1" ... 1 ." 1. 7$3- $$ "
1 M A31 1 F*@ I)*F @A9 $$ '3. 1 ." 1. 1. $.1,. $$( 7$3- $7 .1-1. 1$ !".)
$.$"
7 -%
0
. -% $- .. $$ '3. 1- . "$ -$$! $- .1" $ &-.1. " . " . 4 !1
/)$$$0
.% HOO& M
1M $$ . 1 ." -$5. -()
- $5 4 $"4" &$& 11 -."1 ."
)/98 $. 1 ." .3-44 " 1 3!" $7+ 5. - ) 1-"14 7 5 4 $"3.$"
, ) ).
$ $)
. . " 55- *3.1$" 4" 1 51 1 ""1 11 1 3!" .$3 "
$ ' **& $"1"1 $ 1 .1$!) 31 " &-."1 1 1 $-! $ " "! 5" 1 4. 1
!$ %) $" .$1. 1 $7 5. ." . - 7 $&" $7)
$ - +1 +# .& '&-13 - 7 " 1 . $ 5$!"() 1
. "$1 $5 ." '1$ $"1"3 51 1
GGC
KKK9$3@F 1F,0 A930
6*'
(+.'5
24'5'065 174 /106*.; 5'%6+10 ('#674+0) 4')7.#4 5+)*6+0)
4'21465X 4'8+'95 1( %.#55+% %#5'5X '064+'5 10 /#,14 7(1.1)+%#. 612+%5 #0&
*#0&5g10 #&8+%' (14
+08'56+)#6145T *'
+.'5 9+.. $'0'(+6 (41/ ;174
+0276X 51 &106 *'5+6#6' 61 57$/+6 ;174 57))'56+105 #0& 37'56+105T
1 %106#%6 *'
+.'5X '/#+.U 07(10u$6+06'40'6T%1/
g
GI
U
@ K @K /@F 031F* @5 -I1.
%? //@ 1 =30 F@> %// F* @.M 3J
1/ @*0 3? @F I$$3/. 31 *?,@F0@
GGB
KKK8$3?F 1F,0 @830
1,)*F 1 F* ,31,@,1) $$ F@ ? ,1F?,)I,1)
),J 1 K*F K@ ? 53?F ,1 3?FI)/ 1 M
F* ,?0 1 ,1 1/ @*08 IF K@ F*,@
31 +3$$ 1FI?/ 5* 130 131 @5 ,% F3
F* ? 3? @30 3 @, + $$ F 3$ 31)3,1)
? @ ?*:
* /,)*F*3I@ . 5 ? F ?$3? @@
F3/ 0 3IF )? 1 )/3K@ @ 1 30,1) I5
$?30 I1 ? F* KF ?8 1 # ),1 M ?@
$3? 1/ @*0 # ,1F ?J, K 31 3$
F* K3?. ?@ 31 F* 1 K ,N K // ? F3?
K*3 ,1 F* /F 42CO@ 1 ?/M 42BO@ @K
J?,3I@ @F?1) ,1, 1F@ F*F 31J,1 *,@
? K F* @,F K@ *I1F 8 F,1)/,1) 1 ?)M
?0?. F3 ? 5/ 3?
,@F8 @ $? ?? 3$% ? F F* -3,1F ,J,/D0,/,F?M $,/,FM
,1
M 42!4 # 5?3J,,1) F* %?@F
@ *J 01) F3 ,@3J ? F*,@ 1 J ? FF31 6. @F ?1 ?7 # @. 5I/,@* ? 3? 3$ F* @ 8
*55 1 # F / @F 13F * ? 8 1@F $F ? @ J ?/ 3F* ?@ F3 * /5 0 @FIM F*,@ 1 F*3@ ?/M *F@ K,F* I@ 3FF@ %//
,1) 300,@@,31 5?F@ 3$ F* ??M ,1F?,)I,1) @F3?M8 1 3$ F* @ K@ 31 +F,0 ,1 . M )5@ ,1 F* 1/ @*0 @F3?M 1
K ? / $F ,1 @,FI 1 F* @,F K@ F. 1 3J ? 31F?,IF3? J,1
/I? K*3 /,J 13F ? $ ?? F3 ?? F?. 5,. I5 M
M F* 3? ,)1 $% A ?,3 ?3@F@ F3 $? KM8 * -I@F 5I/,@* )? F 33. 13F* ? 0,/,F?M 35 ?F3? F*F K . 18 *,@
I?35 K 1F 3IF $?30 * ? $3? M ?@8 6
7 3IF F/ @ IF ?3@@ F* 3@F 1 ? 3K @F3$F 1 K@
,0,/? J ? F* 3?,N31 1 1 ?)M @5? ,1) I?,1) KJ @3 F*3I)*F /3@F ?3I1 F* $3? @F K* 1 ?355,1) /3K
0 L5 ?,0 1F@ *J 1 ??, 3IF * 3I/ 3$$ ? @ 5F,/ * . ),J 1 F* ?? 3J ?) 8
/@ K* ? K,F* )/3K,1) /,)*F@ ,1) ? 53?F 31$I@ 011 ? ,1 K*,* @F3?, @ K ? *F 5?F K@ 1F,? /M @ 31*1 IF
,1 F* J,,1,FM8 F @ 0@ ? @31/ F*F 0 ?),1) $?30 1/ @*08 3FF@ *,0@ /$ K,F1 @@ F* 3003F,31
1MF*,1) 3I1,1) @F?31) 0@ 3$$ F* @ F* ?? 35 ?F3? * ? 9I @F F*F K* 1 @ 1,3? 3$% ?@ $?30 1FKF ?@ *
F03@5* ? 0,)*F $?30 F,0 F3 F,0 5?3I *,@ , 1F,FM K,F** / K // *,0 J, // FF31 31 F* 1,)*F 3$ HB 0 ?
,31,@,1) 3? / F?,/ @, + $$ F@8 3FF@8 ? + @F/,@* 31FF K,F* *,0 K*,/@F 42!O ,1 51, F3 @M F* ,? 0 1 K ?
3 @ @I* @5 I/F,31 F, 3I? 5INN/ @ K?,F,1) F*,@ ?F,/ F3 I5F *,@ J, K@8 1 F* KF*,1) @ 1 # F* M /, J + FF31
F3) F* ?: *,@ 5?F 3$ @F 1)/, *@ 01M 1 LF 5?F M3I K,// @ K*F F*,@ *@ ? J / 8 *J F* 0 31 ??8 3FF@ K@ 3? ?
F * 300I1,F,31 @,F @ @I* @ F* 55,/M . 5F ? 3? 3$ 0M H ?I?M F3 /33. @ K ? 3F* ?@ IF 13F*,1) 3I/
? @ ?* I1,F 31 F* $3?0 ?
?F/ @*0 42!4 31J ?@F,31@ K,F* =3FF@> 1
/I? 8 @ 1 31 F* ,? @? 1@8 3K J ? 3FF@ K@
F* D @ 6K* ? 31 3$ F* *,@ ,@ ,053?F1F I@ J,1>@ ,1F ? @F @F?I. M *3K I?) 1F/M F* 1
3
1),1 ?@ %?@F F3/ I@ F*F F* =30 F@ ,1 F* 5?3J @*3?F+/,J # * K@ 0??@@ K1F @@ F3 F* ,? ?? F I@
@.M> F*F 1,)*F 3I/ ,053?F1F78 ,1 F*F @ F* %?@F ? @ ?* ? F3 F/. F3 3FF@ F* ? * 1 /3@ 13I1F ? ,1 F*
42C2 F*,@ *@ 1)) ,1 01M / F?31, * 0 =3)>@ ? .$@F> 6*,@ K3?@7 3$ $3? @F ,1J3/J,1) 3$% ?@ 1 5 ?@311 /8
,113JF,31@ 1 ,1 42!H I?35 >@ *F M 3FF@ 0 F*
%?@F @F //,F F?1@0,@@,31 @M@F 0 %?@F ,1 5 1 1F K,F1 @@
35 ?F * ? 8 * 1 F* ? ,@ @53. F3 K*3 3I/ ? /F *?
K@ M K* ? F* %?@F *,1 $F@ 3IF F* @ 8 * @0
*30 ?? @ K@ ? F 8 F , 13F 0 ?) ,? F/M
M F* 42!O@ ,F 3$%,//M *3I@ $?30 ,?0 1 $3? M ?@8 F
)?3I1+F3+,? 0,@@,/ $,/,FM8 @ @I* J ?M @5 ,% J, 1
K $3I1 ,1 ? @ ?*,1) F* @ K 1F 31 ? 3? 31 H ?I?M
) FF,1) 31F3 F* 1FKF ?@ @ 42!4 # -I@F GB M@ $F ? F*
K@ 13F *? IF ) FF,1) 5@F J 1F@ # 53@,1) ,) 9I @F,31@
F* ?0 )I? F K@ M K@ 3IF K*F F*
3 1 F*
,053@@,/ 8 .1 K 1 K* 1 LF/M
I @F,31@ /,. F* @ K ? F* M .1 K ,F8
INN,1) F*?3I)* 0M * @ F?, LF 031F* K K,// @@ @@
F3 5, F3) F* ? K*F ? 1 @30 3$ F*3@ 9I @F,31@
1 3F K ? * ?,1) $?30 /3/@8 K*,* 3I/ FI?1 F* K*3/ /31)+
I 1/M 0M /I @ 1 F* ,? /I @ /33*3I1 @I?$ +F3+,? 0,@@,/ @ F K@ M ,1 F* 42!O@8
?I11,1) @) 3$ 1/ @*0
/33. F3 53,1F,1) ,1 @,0,/? 3? @F 31 ,F@ * "
GGB
KKK8$3?F 1F,0 @830
%/$676 )520 7+( 3$67
$"*
-#!&' -)& & )!'#!' ! &+ !' # -& , &) )# #!')& %'
+ L ? 4% 53F! J@ 2 @ 2 ?1 E+ 1@ 0I @
.-EE ?L 42 9 2 E4 E+ E E+ J-E+ 6-@E40@
H?46 ?12L @+4E*H2@ /2-I @ 2 ?M4?@9
+ ?-@ 2 %?41 -E@ + 2
4+2@42 0-1
% E EJ4 @ %4? 2 E4 @ E+ 142@E ? 42 2-*+E
H2 ? M- ?H0 + %4H2 2 @E?E &?-2* E -E -E
2 J 2 ??4*2E 1-0-E?L @-*200 E+ *-22-2* 4%
6?- A +1 ?0-2>@ EE 16E@ ??* 4% *H2@+4E@ %?41
24EJ-E+@E2-2* -E0 ?>@ 4E+ ? ? @- 2E@ @+44E-2* E
?1- @ + *H2 E4 1?+ 2 2LE+-2* E+E 14I 9 ;H2@
4H6- E+ H E 202 42 ?4? E+?4H*+4HE 0@E 2-*+E
5 E4 ?9 142E+ 0E ?
J@ @ E+ %?2E- 2 *?4 @ +@
-2 ?12L 2 H@E?- J4H0 0H@-I =E+-2*@> H6 2 4J2
@H%% ? 2 41 2 4% J+E J@ E4 E+
?14EE @E? E -@E?-E<
41 H?-2* E+
42 2 J@66 ? 411 2E 9
E+ -*+E 4% ?4/ 2 0@@ E %H?E+ ? ? 1?/ E+E
J-E+ 4I ? 5NNN @L2*4*H @ 0E+4H*+ E+ J+-E 646H0
H?2 2 +H2? @ 4%
J@ 4% E4J2 J@ ;1H@ < L E+
/-00 9 + ? 64?E@ L %4? -*2 @? -E 0@4 4160-2 4%
.4H?20-@E@ -2 ?12L +4??-& 0/ @ ?I2E@ J4?2 4HE L
E+ J4?09 @0 60 @@ 2-*+E@ H@ L
2 1 ?- %? JL %?41 E+ 142@E ? ?H14H?@9 12
E+ @ ?-@-2* E 2@-42@ @ 21 0/ ? 0-1 E4 +I
6?E 4% 004J > 2 @ ?- @ 2 -EE 2 L E+ ? EH?
E+ 40H1- ?4@E-2* E ??-0 E+-2* E+E 4?-2*
?-4 2 EJ4?/ -? =? 4% E4 +-1 J@ ; -*+E % E G9)1
E+ 4?0@> 42 FN E4 ? 042* 044/@ 0-/ @ 0 2 .H16@
-? E 2 2??E L 0-/ /2*?44<9
2J+-0
E+ 2 ? 0E-I 0L H2/24J2 ?@42
00 @9 E ? -I 1-K
$ VWRU\ ZDV WROG DERXW D KXQWHU ZKR 640- 2 ? 64?E ?@ E?- E4
@H@E2E-E E+ ?H14H?@ HE
? I- J@A 2 @ 0 * 2 +@
-E -E H@ 1@@ 62-
WUDLOHG WKH PRQVWHU LQWR WKH QHDUE\ @ 42 2 J@66 ? 1-EE
J-E+4HE @H @@9 + ;
42@E ?
H@ 0-@E 2 ?@ -2>E ? 00L
H2 ?@E2 E+E 00 @>@
VZDPS EXW UHWXUQHG VSHHFKOHVV ZLWK 4%
?14EE E? E< # @4,00
H@ 4% E+ ? J+ ? -E
?E-2 -2I@-42 ?-4,60L J@ IULJKW DQG ZLWKRXW KLV KXQWLQJ GRJV + 2 @ 2 # J@ ? 64?E
&E-42 7@ 89 E+ ? J- 0L ?4@@ E+ 9 E+ ?@
62-@ %4004J 9 E ? E+E 21 -E E+ ;?2/ 2@E -2 4%
L ? ?H14H?@ 4% I16-? J+4 21 -EL 04?- 2 4/ @ 2 0 -E -2 E+ ?/2 @@ -@+ ?>@ 00 L< %E ? 24E+ ?
+ 1H? ? L4H2* *-?0 -2 -00 4HE+ ?40-29 4% 2-*+E J@ C%E 759!18 042* @E? E -E J@ @- E4 @E0/ HE
0 @4 J
K-4 @H?% E *2 -2
4-0 J+ ? -2 J4400L 2 0?* ? E+2 640- -2 E+ 2 E+ 6?4E 2 E ??4?
?4H2 2 -*+4H?-2*
H? M E+ 0@E E+? J /@ 4%
2H?L 4*9 %H?E+ ? @- -E + E+E 1-*+E +I @E 66 %?41
.H@E 4I ? E+
K-2 4? ?9 @E4?- @ + @E?E E4 1 ?* ?4 + 2 ?-2* 4% J+-E 400LJ44 +4??4? &01 @H%% ?
2 0 @4 @+440E + ? E+E 142@E ? J@ ?41-2* %H? 4HE C-2 75'18 J- 2 -*241-2-4H@ 29
? 64?E E4 E+ 640- E+E + ? E+ 00 L@ 4% E+ 24?E+ ?2 6?E ?4H2 -E@ 2 /9 + % 10 2 40 ?H?L 2-*+E
6H6-0@ J ? *? E0L H6@ E9 + 2 4% E4J29 @?-6E-42@ I?- 9 ? @- 2E@ 4% E+ ? 0- I J+ 2 E+ @E? E@ J ?
E+ -2- 2E J@ -2I @E-*E 41 @- -E J@ ;+0% 12 2 E+ 142@E ? E4 E+ *+4@E 02/ E L *? L %4* 040
E+ 01 J@ 0- E E+ 44? +0% J40%<A 4E+ ?@ 0-1 -E 4% J412 J+4 J@ /-00 L &? 12 +?0 @ ?4L24 044/
4% 24E+ ? ?-4,60L 00 J@ 0-/ 4* HE 0 %E E?/@ + ? H2%-E+%H0 +H@29 + ? -2 +-@ L? E4 @ +-@ 400-
=+ 16-? > E+E + 2 0-/ E+4@ 4% 0-42A 2 E+ ? J ? E+4@ J+4 E+4H*+E E+ &*+E-2* J-E+ @41 E+-2* +
?4@E ? 2E0L9
J ? E+4@ J+4 @J4? E+E E+ =E+-2*> 1-*+E 112 4H02>E 1/ 4HE9 @/ +-@
HE E+ L ? + *H2 J-E+ @E?2* ? EH? 4? ; ?-2* 2 24E+ ? J-0 @E4?L J@ E40 J-% E4 0 ?E
2- H00-I2
@ ?- @ 4% -2E ?04/-2* 142@E ? 4% J+-E 6+4@6+4? @ 2E +-?< 4HE +H2E ? J+4 E?-0 E+ J+4 + *H29 + 2 H00-I2
@? @ E+E @6 -&00L E?* E ?4H2 -E@ 2 / 2 + @0 @ 142@E ? -2E4 E+ 2 ?L @J16 ??-I J 00,-1 @+4E %?41
E+ %?4,1 ?-2 411H2-E- @ 0-/ -24@H?9 2 E+ % ? HE ? EH?2 @6 +0 @@ J-E+ +-@ ?-( 0@E E+ + 4%%
-2 @ I ?0 @EE @9 2
2H?L 2 2 42%H@-42 E+ 2H1 ? 2 %?-*+E 2 J-E+4HE +-@ +H2E-2* E+ ? EH? 9 + 142@E ? -E
?H?L 53F! 2 6- 1- 4% I?- EL 4% E+ @E4?- @ *? J9 2 4*@9 EH?2 4HE J@ 0?* 4EE ? ; E
142@E ?@ @ 42 2 J@66 ? 6HE 2?L
4+2@42 16E- +-@ *H2 + @-EHE-42 -2
4-0 + 1 @H? 4HE %4H? % E 59G1
-E E ??4?-@ E+ %?4,1 ?-2 E E+ 142@E ? HE E+ H00 E@ 41 :H-E 0?1-2* @-2 -2 0 2*E+ 2 + 1H+ E+
411H2-E- @ -2 E+ E4J2@ 4% .H@E 4H2 4%% E+ ? EH? >@ ? @- 2E@ 4% E+ ? @ J+ ? 66 ?2 4% +H* ?E9 +
4-0 01 2@40 2 / + 0-1 9 +E + + E+ 142@E ? + ? 64?E 0L % E ? ?1 J-E+ +H* 0J@
2 E+ 2-10 J@ 416E 4% 24J+ ? 2 -E@ 2 J@ 1 :H-2E J-E+ @ 2 2 2-109 2 2@40 -E
2 1H@H0?9< + 2 E+ 2 J@ :H00L 6HMM0-2* ;+ %?-2 142@E ? @?- @ ;5N%E B-2 J@ 4?2 -2 -EL 4H?E?441
@6? @41 GNN 6 460 I-@-E -0H@> @H664@ 0L @E?2* 7F9GF18 -2 +-@ @+4/-2* % E 2 J+ ? E+ 6? @--2* .H*
?4L24>@ +4H@ 9 +E @-*200 2-10 E+E EE/ 4*@ +-@ 4L 14I @ :H?E ? 4% E+? E 2 @41 E+-2* 4HE
E+ 2 4% E+ -2%14H@ 2 %?-*+E 2 1 2 E4L 04/ %4? +-@ +2@ *-2 +I-2* E+
4-0 =142@E ?>
42@E ? 4%
?14EE E? E 1L@E ?-4H@0L -@66 ? 2 E4 %4004J9 2 J+E +2@$ 41 E4 2@40 E4 :H- E
0E+4H*+ E+ 040 2 J@66 ? 2 *?4 @ ? 64?E E+ =E+-2*> *-I @ 42 E+ -16? @@-42 E+-2*@ -2 E+ 2 *?4 @ E-42@9
24E E+E ;4J E+ 2-10 + *42 E4 I-@-E E+ =142@E ? 4% +I-2* 2 4E-6H@ 7@-8 ; 2>E E+-2/ 4% 2LE+-2*
1 -E@ JL -2E4 E+ @4HE+ 4%
?14EE E? E> J+-+ E E+ 2 4% + J?-@E"< -E+ ? 4% E+4@ 64?E -E- @
6?E 4% E4J2 4? J+ ? -E 1 %?-*+E 2 E+ 404H? @ E-42 + 142@E ? J@ -2E?4H +I E+E 21 -EL +@2>E
%?41 6HMM0 E+ HE+4?-E- @9 4%
4-0 09 -2 E+ 040 2 J@66 ? L @4 J .H@E - E4 @H660L
+ 4EE ? %H?, ?-2* 1 E, ;E+ ?@ J+4 0-1 E4 2 J@66 ?12 -00 -22 L J+4 +-2 E4J2 J-E+ =142@/ ?>9
E-2* :HE- 2-10 -@ ?? 0L /24J 00 4HE E+ -0H@ 0@4 4-2 E+ 21 =?40 ;-EE0 - J ? 0-@ E+E
@ 2 2 -@ 2 I ? %4H2 %? HE - 24E /24J J+ ? 4? +4J E+ 4??-0 >9 ;+E>@ J+E 44/@ 4% 042* *44,@E2-2*
%?41 @J16@ 2 ? /@9< HE E+ 21 4?-*-2E @- E+ J >00 00 +-1< -22 L J?4E J4H0 24E @+4J H6 %4? J4?/
-E 0 %E 0 *L9 J / %4? 4/ -00 142@E ? + *42 -2 +-@ E42*H ,-2,+ / 4H2E 4? E+E E+ 2-*+E @64E@ 4% E+
E+
4-0 142@E ? J@ @+4E -2E4 +- ?2E-42 %4? 5N L ?@ &00 J-E+ 4I ?,E+ ,E46 @ 040 0/ 0E J4H0 ? 64?E
EJ4 %?4,1 ?-2 1 2 -2 %4? -E 420L 66 ?@ 42 -2 EE?-HE E4 E+ 142@E ?9 H@-2 @@ =? @@-42>9
4/ -00 4HE+ ?40-2 E40 <9 0E+4H*+ -22 L 1L +I ;+ J+40 E+-2* J@ -2 *44
640- E+ ? E+E ; & ? %H?,
2J+-0 -2 2@40 1 2E -E @ .4/ -E J@ E E+ 0 2 %H2 2 J +46 J ?
4I ? 2-10 4@E E+ 1 04?- ?H14H?@ + -E E+E K6 2@ 4% E+ %?4,1 ?-2 ?-*+E J+ 2 J @L E+ ? -@2>E
42 042 0L -10L,0-E @E? E"< ;
4-0 >@ E ??-0 2-*+E 411H2-E- @ J+4 + 0? L 2L 142@E ?9 E 0 @E J +46
24E+ ? ? 64?E E+E E+ @E0/-2* 142@E ?< + 2 @H%% ?-2* %?41 6?4042* J 42>E 1 E 2L *4-2* +41
@E + EE/ +-1 2 @ 2 42 E+ E4J2 -2 +-@E4?L 4% 6@L+404*-0 42 4% E+ @ %4**L 2-*+E@9
;?-66 4%% +-@ 04E+-2* %4? %4?1@ I?-4H@0L ? 64?E @ ; J?%? *4-2* / E4 E+ ;? %H0 -2I @E-*E-42 +@
+ 12* E4 @6 -E@ J%H0 *4?-00 E4 *442<9
4E4?L0 ?/ L@ 4% E+ H 0HK 02 @+4J2 E+ ? J@ 24 E?HE+ -2
0HE+9 40- J+4 J ? J-E+4HE 4%& ?@ 4?* +-E 2 2 -*+E - ?@ E ??-0 E+ ? 64?E E+ =142@E ?> I-@-E
E+ 4?L @ E4 E+ - 2E-EL 4% E+ ? 2 6- E4* E+ ? 14? E+? E E+E + 24E *42 JL9 +-60 L 2 0 %E +0% E+ 4L
J -? 2-10 0@4 ? -I 04?E @?-6E-42 4% E+ 2 H*H@E 53F! %4? -2@E2 4% 12 42 @EH16 -2 E+
? 64?E E+E E+ %?-2 -0H@ ? EH? 9 + L %4H2 4HE E+E %?4,1 ?-2 -E-M 2@ 4% E+ J44@ 2 ? E+ ? %E ? E-2*
+ /-00 0?* 0% 42 E+ -E + ; + 0-/ 62E+ ? 04?- 411H2-EL 4% / 02 420L 6?E 4% +-@ I-E-1" 4 J-E+
* 4% E+-@ 4HE+ ?40-2 4L 0-/ *4?-00 @-K 0 *@ 42%?42E E+ 02 H?-2* 42 E+ 6@@-2* 4% ?40 J +46
E4J2 2 E 2 JL 1H+ 4% +2@ E+E ?* E+ *?4H2 2 4% E+ -? J+-E ,+44 1?+ @ E+-@ + ? =142@/ ?> %440-@+1 2E
E+ ?@@9< -E @E2@ 4HE %4H? % E 59G1 42 04?- I 2H 9 -@ E 2 2<9
64?E@ 4% E+ =-0H@> +-*+9 E 0 I @ E?/@ 0-/ +H* -22 L + -1 +-@ ?+6@ -E J@A E+ ? >@
@6? E ??4? 142* E+ %?4, *?-MM0L ? 2 1/ @ 24-@ ? 6L6@E @EL0 ? E-42 24 %H?E+ ? 1 2E-42 -2 E+
1 ?-2 ? @- 2E@ 4% 4/ 0-/ %4*+4?29 E -@ 0-0 E4 E E+ %?4,1 ?-2@ J+4 2 J@66 ?@ HE -E -@ -2E ? @E-2*
-00 2 %?41 E+ 2 J@66 ? EE/ %?41 @E4?1 @ J ? %?41 0-I -2 +-2 E4J2 E+ 0/ E4 24E E+E 142@E ? @?
4H2E@ J * E E+ -16? @@-42 ?44%E46 4? 1 ? 0L 41 @-0-2* 411H2-EL 4% 21 -EL9 E+E + @E?E -2
4-0
E+E E+-@ 142@E ? J@ @41 E+-2* E -E@ I-E-1 %?41 E+ E46 4%
H*-2* %?41 -22 L>@ +@EL -% 1-*?E E4 4E+ ? %?4,
4E+ ? E+2 .H@E 2 4?-2?L E? <9 44L E+4H*+ 4H0 @?@E- ? E?E-42 E+? L@ 1 ?-2 411H2-E- @ I 2
2-109 42@E0 ?0 4I-@ %4H2 J+4 + EH00L @ 2 E+ 0E ? E+ L + 41 I ?L ?4@@ @EE 0-2 @ ? -2%4?
%4? -2@E2 ;? 64?E + @J 142@E ? %4? +-1@ 0% ;4H 2 H6@ E L @H** @E-42@ -?H0E
E+ @+10-2* @E -2 ?/ + ? ? 64?E@ 4% 4M 2@ J+4 +I ;?40 E+ 4??-0 J@ L E+ 6? 41-22E0L J+-E
/ 00 L 2 @+4E E -E EJ- @ 2 -E # HE E?L 2 &2 42 +44 L9 00L E+ ? J?2>E 2 J@66 ?@ 2 @? EE-
HE %-0 E4 ?-2* -E 4J29 1 4% E+ 1< E+ 040 2 J@66 ? 24E+-2* E4 -E9 4E E+E 04E L 2@40 .H* 9 01>@
EE@ 2 *?4 @- + J@ +@ ?L0L 4@ ?I +?-@E 2-2* 4% 6 460 E+4H*+E E+ ? J@
42@E ? 4%
?14EE E? E
E+?4H*+ J44 ? L E+ E+ 142@E ? E+ =442 4% HE E+-@ -@ -2 +46 E+4@ J+4 04?->@ 442 4% H-00 1?
=I?1-2E> J+-+ 1 *?H2E-2* H-00 1? E? E> 2LJL9 E+4H*+E E+ ? J@ E+E E+ ? -@ E? E 2 ?40 E+ 4??-0
24-@ @<9 + 2@40 640- @EE 24E +@ 24E 2 2 J-00 24E 2 I 2 4HE+ ?40-2>@
40- ? 64?E E+ E+E E+ @? J@ E? 0 E4 2L =142@/ ?>9 %?-2 -0H@ 1L +I
1L@E ?-4H@ 142@E ? + ; J?2-2* *-I 2 @41 @100 ;
H@E +4J 12L 6 460 2 24E+-2* 14? E+2 04@E
6?E-H0? I ?@-42 E4 4*@ 4%% 2 ? J+4 + +60 @@0L 0- I E+E 2L 142@E ? 4EE ? 2 % J %4? ?H22 ?@
;J4 J ? %4H2 41 H2 ? E+ 0J>@ + IL J4H0 I-@-E +-2 E4J2 -@ 24E 4% ? 6L6@E # HE E+ %E
66? 2E0L %?41 @E?2*H0E-42 ?1 E+ 4E+ ? L9 % + -2>E /24J29 HE -E I- 2E0L J@ E+E E+ @ 4E+ ?J-@ +?10 @@
2 4M 2 J ? ? 64?E 1 2 +-@ JL@ + J@ J?2 E+4@ J+4 224E ? 2 J+4 @E4?- @ 4H0 *?4J -2E4 %H00,
-EE 2 E 2 2 @?E+ E+
4-0 142@E ? J@ 41-2* + ? 420L %?41 E+4@ J+4 29 04J2 @4-0 62-@ -@ 0 ?
-2 E+ -004J ?44/ @ E-42 4I ? + ? 2 * E +-19<
; E ? 00L 00 @E?E J-E+ -2-E4? 4% E+ ?-0 E 2@-42@
4% E4J2<9 + 142@E ? 4E E4 4HE42 E+ %2E@E- @E4?- @ -2
4-0 >@ E+E 60*H -I- EE @ 4%
@ 1 E4 +I 66 ? 4HE 04?- E4J2 4% 21 -EL ?0 1 J+ ? @41 42 + 1 ?- 42 E+ ?-2/ 4% 9
$
N856 06 ."C 60-.I0" CL6606- :.PD04 6 4" I8 C"ML4D086 6 D.83= ."
NP (C85 6 0D84I" 568C LD" I.0D 64PD0D I8 IP:0(P ."C 8N6 N8C3D
.8LD" I." I"C5 @8I.0 06 8::8D0I086 I8 I.8D" 8( ."C 40I"CCP C0M4
856"A 862LC"D L: I."
II."N "N0D 8( ! (5" N.04"
05-" I.I ::"C" 86 I." "N0D I883 :4"DLC" 06 D.8306- .0D C""CD
8M"CD 8( I.8LD6D 8( 97GRD N0I. "O:400I D"6"D 40((" (M8LC"
::"C3D 8(I"6 583" P I"CC8C (8C 0ID 040IP I8 @"O:6=== I." D8L4A
I.8D" N.8B 864P 8I."C N0I. 5306- C""CD NC" 8( I."0C .L56 4050ID
C"D:"I4" 40I"CCP )I086= "I I."D" 68M"4D 6 C06-06- I."5 48D"C I8 I." DL405"=
L0>L0I8LD "IN""6 I." 97GRD 6 I." 97%RD 0(IP P"CD (I"C I." :L40I086 8(
C" 864P I." 58DI C""6I 560("DII086 8( !"! I." C86I$D -M" 0CI. I8 N.I
-"6C" I.I . ""6 8C6 IN8 "6ILC0"D N" 68N L6"CDI6 D 8I.0 856"= 6
"C40"C= 504P C86I$BD '&# &$ ;9%,F<
8 IC" 0ID 8C0-06D N" 5LDI ICM"4 3 I8 I." IC-0 48M" DI8CP "IN""6 I."C06" 6
9FG, I." P"C 8( :L40I086 8( $& "I.40(( IC6D"6D 8L6C0"D I.63D I8
! &# &! -"6"C44P 86D0"C" I8 " I." I." 06IC8LI086 8( DL:"C6ILC4 "4"5"6ID
)CDI 8I.0 68M"4= 6 0I 8C" 4:84" 6 8I.0 05-"CP= 6 .C48II" C86I$BD
06IC8L" D85" 8( I." "4"5"6ID I.I N8L4 *# ;9%,F< I." ."C806" I"44D ."C 8N6
")6" I." -"6C" D""506-4P DL:"C6ILC4 8506-/8(/-" DI8CP 6 ("D 5PDI"CP D
0CCL:I086 8( I." :DIE D">L"6" 8( D.8306- D." DICL--4"D N0I. I." 86DIC06ID 8( ."C
6 5C" "M"6IDE D"6D" 8( "648DLC" 40(" 06 6 0D84I" 568C .8LD"= D06I"
06 6 C.0I"ILC4 D:"= LI 0I ND 66 P DL:"C6ILC4 I4"D D06" D." ND .04
40((" N.8 N0I. *$&#$ ! !"!
6" "O:C"DD"D ."CD"4( 06 I." 46-L-" 8(
;9F7,< N8L4 " :C0D" D @I." 8C0-064 8I.0=
06M"6I8CA 6 @I." (8L6"C 8( 4DD 8C
D.884A 06 4I"C 8IIBD N8CD=
40((" ND 86" 8( I." 58DI :8:L4C
5$'&/,))( '5(: 86" 8( I."D" ."C806"D C" 5D"4D 06
0DIC"DD= ."P C" 85:4"O 060M0L4D
N.8 86BI )I 06I8 D80"IP I." ("54"
68M"40DID 8( ."C I05" &
6" LDI"6 (58LD4P
DI0C0D" I." 8D"DD086 8( P8L6- N85"6 N0I.
$ ',67,1&7,21 "5805"6I 8( I." 8I.0 856I0 6
8C06-4P I."0C ."C8"D C" PC860 06
."C 68M"4D 06
!#& # * ;9%9F<= ."
C"+"I" L:86 I." -"6C" 06 ."C 9%KG "DDP %(7:((1 7(5525 $1' *# 8."DI"C 4I.8L-. C":"6I6I CC0"D
I." LC"6 8( :DI D06E "I.40(( 0D6BI
@6 I." L:"C6ILC4 06 8"ICPA CN06-
0DI06I086 "IN""6 I"CC8C 6 .8CC8C I.I 0D +25525 7+$7 ,6 67,// C"""5" 6 -C8ND 0II"C 6 CL"4 (I"C
48D06- .0D ICL" 48M"= 0I. I." N8C3 8( I."
AA<
EEE5"0:@ .@)- ;50-
>
2'. C
C:) : C@'0: 0" @' + G -0 :. 0@') .0D , 1/A!9;
5
' 00+ E; 6C)+,G 2@ . #,- G ,": )@'0+5
" .G 0. @)@, +)+;@:@ @' 0@') 0-. 22 :+ 00- 0" @' 1/=H; )@ E; )@0:) 0,@9; #%"## )5
C86I$D I." ""C0" 6-40D. 46D:" "5"
630"N0QBD #! )* ;97,G< ND D"
DP686P58LD N0I. I." DL-"6C" 6 I." 86 I." 68M"4 P I." 5"C06 6P "I86=
568C .8LD" DP584 8( "6IC:5"6I= ""BD L-.I"CD 4P 8C56I (8C
8L:4" 8( ""D L6I04 97GR N."6 $&#$$
! * P I." I."6 L6368N6 LI.8C
8"C6 8I.0 6BI " L6"CDI88 N0I.8LI 0I8C0 84I "5" 6 8M"C60-.I DL"DD=
C"("C"6" I8
;97J%< I." .P:68I0 ." :48I ND L6D."4P 58"44" 86 L
68M"4 P :.6" L
LC0"C I.I CND 86
LC0"CBD N8C3 6 *# -8M"C6"DD
I."5"D 4C"P :C"D"6I 06 .C48II" C86I$BD )6D :8D0I086 06 6 0D84I" 8C60D.
N8C3= ID )45 :II086 0C"I" P 4(C" 56D086 .L6I" P I." " N0(" 8( ."C
0I.83 ND :8:L4C D"6DI086 N06606- 5PDI"C08LD 6 D.06- "5:48P"C= LI ND ."
I." 97,R "DI :0ILC" DC 6 (8C"M"C C"D:86D04" (8C ."C "I.?
406-"C06- 06 I." 844"I0M" 05-06I086= ." 68M"4BD I58D:."C0 D"II06- 5"
L
LC0"C ")6" 0I D DILP 06 C""CD N86"C N."I."C I.0D ND L
LC0"C
2"48LDP LI I." 8I.0 "4"5"6ID C" .006- ".06 :"6 65" LI 84IBD ICL"
06"D:4"= ID (58LD )CDI 406" & @DI 0"6I0IP 864P "5"C-" D"M"C4 P"CD (I"C
60-.I C"5I N"6I I8
6"C4"P -06A ."C #LI D." ND I." :C840) C0I0D. LI.8C
& 06IC8L"D I." :C8M"C04 8C60D. "DII" 4"68C 0"CI N.8 4D8 :"66" .0DI8C04
6 I." DL:"C6ILC4 I58D:."C" I.I CL6D C856"D L6"C I." 65"D
"6 40P 6
I.C8L-. I." DI8CP P8L6- :406 6 61M" .040:: CC= 0"CI . ""6 86M06"
N856 5CC0"D I." 84"C 6 5L. N"4I.0"C P 5"C06 -"6I IC00
PC"C I8 C"M0M"
N08N"C
O05 " 06I"C LI N."6 I."P I." 8I.0 -"6C" 6 8:I" :D"L86P5
8I. 58M" I8
6"C4"P ." "85"D I.I N8L4 "M83" 0I8C06 D"II06-= I
0DI6I 6 C8806- DIC6-"C= ." .8LD" ND6BI 8060"6" I.I 8I.0 .8CC8C .
0D .L6I" P I." :C"D"6" 8( "" 2LDI C"ILC6" I8 I." 0- DC""6 M0 55"C
O05BD " )CDI N0(" 6 D""I.06- ".06 045D 6 0ID 4LC04P 848LC" :II086D 8(
0ID N44D 0D (""406- 8( 05:"606- 885= ." 0I8C06 .8CC8C 4DD0D= LI I.0D I05" 0I ND
C"4I086D.0: "IN""6
O05 6 "" 0D
:C"D"6I" D I." L4I05I" 5PDI"CP 6 I." *27+,& 520$1&( 58C" D"OL44P DL--"DI0M" I.6 "M"C "(8C"=
.C0DI8:."C ""BD #' 5C3"I" D @I."
C88I 8( I." :C8I-860DIBD :C680 L6403"
."C I." )CDI
CD " 06I"C ND .C506-
-458C8LD D""506-4P :"C("I= 8C5"6I" P
129(/6 (;3/25(' I"CC0(P06- 48M"C N.8 0"=== P"I 40M"'A ND
48D"C 06 .0D ::"C6" I8 C8806- 8I.0
."C8 I.6 I8 I." @I44 84 56A 8( C5
."C I.8L-.ID 8( 06">LP 6 560:L4I"
P I." L66"CM06- .8LD"3"":"C D." 458DI
7+( *(15( )520 7+( I83"CBD 05-06I086 6 .0D :8CICP4 ND
C05506- N0I. "C8I00D5 6 CN M0C04"
8550ID DL00"= ."6 D." )644P 0D8M"CD
""BD C"4 6ILC" D." 4D8 4"C6D
3(563(&7,9( 2) 7+( "6"C-P I.I 5" I." .CI"C D"LI0M"=
."D" .8N"M"C N"C"6BI 48M" DI8C0"D 6
8LI ."C .LD6BD :DI D06D C3"C I.6
D."B 05-06" & D8 C3 06 (I I.I I." )(0$/( *$=( CL4 ND6BI :8CICP" D DP5:I."I0
586DI"C LI D :C"I8C=
8DI 05:8CI6I4P
844PN88 M"CD086 . I."5 I"5:"C" I8 I."P N"C"6BI I84 (C85 ("54" :806I 8( M0"N=
85:4P N0I. I." 58C4 -L0"406"D 8( I." ""6 NC0II"6 P N85"6 04405 P4"CBD 4I.8L-. I." 8I.0 ND (!'
C8LI086 8"= '&# &$ ;97J7< ND I." D"86 )45 -06 I."C" D""5" I8 " .L6-"C (8C
(I"C I." DL"DD 8( I." 68M"4 844PN88 :II086 8( 504P C86I$BD 68M"4E
>L"D :C8LI I.I 0 "O:48C" I." -"6C" (C85
:C8L" D"M"C4 )45D I.I "O:48C" 8I.0 8LC6"LCBD ) )& +! ;97,J< ND I." :"CD:"I0M" 8( I." ("54" -Q"= I ND
I."5"D (C85 I." :"CD:"I0M" 8( ("54" C0"6/D"I C"05-0606- 8( *# I05" 06 N.0. N85"6 N"C" "6I"C06- I."
.CI"C= D ND I." D" N0I.
I.I IC" I." 5N856 06 I." II0 (8C :0 N8C3(8C" )-.I06- (8C ">L40IP 6
I."P N"C" 4NPD 0C"I" P 5"6 "M"6 Q850)" )CDI N0(" 6 0I 5" 8LI I." D5" DICL--406- N0I. D"OL4 .CDD5"6I= 8I.0
I.8L-. 58DI 8( I." 8C0-064 5I"C04 . P"C D 8"CI I"M"6D86BD *#E
8D":. 856" 68M"4D :C8M0" "D:0D5 6
AA<
EEE5"0:@ .@)- ;50-
>L0"I IC6D-C"DD086 4I.8L-. 6.8C" "LD" I."P :"C:"ILI" I." (6IDP
06 40I"CCP IC0I086 I."P N"C" DI044 I.I N03" 56 6 " C"""5" P
DL--"DI0M" 8( (8C0"6 :4"DLC"D= N856 06 48M"= LI I." DDL5:I086
886 I." 6"N ::"C3D N"C" I.I I."0C :8:L4C0IP ND :C8LI
"M"CPN."C" C":40I06- I." 8I.0 8( I." 06IC06D0 6LCILC06- 6ILC" 8(
CQ" I.I . D.3"6 I." 4I" 9%I. N.84" -"6"C 0D 86"D"606- I8 DP
"6ILCP= ."P >L034P (8L6 I."0C I." 4"DI=
60." 504" -C8L6 "IN""6 D N"BM" D""6 N85"6 .M" :4P"
:L4: 5-Q06"D 6 I." 58C" :0M8I4 C84" 06 I." C"I086 6
"O:"6D0M" .C3D C"P (8C >L03 "M"48:5"6I 8( I." 8I.0 -"6C"= "IBD
86DL5:I086= 84I "5" .8LD".84 86D0"C )I0864 "O5:4" 06 8L0D
65" 486- N0I.
CP I"NCI 6
P 48IIBD && ! ;9%G%<
8
I." 5"C06D .P440D .0I6"P 6
C. 0D "M8I" NC0I"C 8( 4LC0
CC
0."4D= ." ::"C3DB 8I.0 )I086 LI D."BD 86M06"
8M"CD P M"I"C6 :L4: CI0DID DL. D P ."C DL0I8C 6 84"C "C56
8L
C."II0 8C "8C-" 0"4 ". 06I"44"IL4 I8 686 I." -"6C"=
8
":0I" P8L6- N856 06 2"8:CP 840-"D 6 D886 D." 0D @C"NC"A
N0I. I." DL--"DI086 8( 5"6" N0I. I." :L40I086 8( ."C 58C"
"6D" 06 6 C.0I"ILC4 D:" & C"40DI0 68M"4 86" 8LI @D05:4"A
86":I 4D8 :C"D"6I 06 56P 8( I." 6 @48M"4PA .CI"CD 06D:0C" P
I0I4"D $& ! ##!# #$! # ! & ."C 8N6 85"DI0 40("= M"6 I.8L-.
!# !'$ ! !)$=
8BD 05 . ""6 I8 53" 40M06- (8C
8DI N"C" 8506-/8(/-" DI8C0"D ."CD"4( 6 I8 DL"" D NC0I"C I."
>
I84 (C85 I." :806I 8( M0"N 8( N856 C"D84LI086 8"D6BI (""4 403" IC0L5:.
486" 06 I." N8C4 6 06 )6604 LI "("I= ." 686D N.I D."
0C" DIC0ID N.0. (8C"D ."C "0I."C I8 48M"D (8448N06- @D"6D04"A M0"
53" 40M06- (8C ."CD"4( 8C 5CCP I.I 6ILC44P 85"D (C85 6 84"C
I8I4 DIC6-"C= 0I."C .80" N044 56= .IBD 58C" N8CCP06- 0D I.I I."
I3" ."C I8 56D086 DI4" ":0D8" D""5D I8 ".8 48IIBD C""C
8C 568C 06.0I" P & D." 6"M"C 403" && ! N.0.
:"8:4" N.8 .0" I88 56P D." C"("CC" I8 D @58C4 :: (8C I."
D"C"ID I." 58DI 05:8CI6I P D"6D" 8( :C680 6 P8L6-A 6 D." :C0MI"4P 86("DD" I8
8( N.0. 0D :48I I8 3044 6I00:I086 ."0-.I"6" P :C"("CC06- ."C "C40"C 8I.0 I4"D=
."C=
866 LDDBD 97FJ I." )CDI/:"CD86 6CCI0M"=
8
C.BD 0D::806I06- .CI"C
"DDP 86 I." DL-"6C" ." "64"DD C":"I0I086 8( "M"48:5"6I C"+"ID 86DI6I I." "40"(
ND 65" (I"C 0ID 506 I." (8C5L4 6 I." 48N"C I.I (6IDP 06 I.0D D" 8I.0 856"
IC8:" @85"8PBD ICP06- >L40IP 8( 56P 8( I." 0D C"I0M"4P 06("C08C I8 C"40D5= ." C"D86
I8 3044 5" 6 I.063 0IBD N8C3D :C8L" 06"M0I4P (8C I."D" II3D 0D I.I I." 8C" 8( 8I.0
>
:0,)# 0@') 0-. C@'0: 'G,,); ')@. G5 0C);
G ,0@@ ;) ;' .*0G E:)@).& ' : :,G 0@') @, ; -0: @'. %% E'0; ' :0).
0
:;' ); ;)-),:,G 0C:& @0 -0D EG ":0- @' );: 2C@, & .: 5 0@') ). - $0C:);' ). @' 1/%H; E)@' #,-; ,)+ )" 3, "@4 . " () 3:)&'@45
AA<
EEE5"0:@ .@)- ;50-
I.I "580"D I." -"6C"< 6 LC08D0IP :CI00:I06- 06 I." C3 D0"= "C :8CI4
D 838M D0 0D @06DL8C06I086 06 0ID 5P DI044 " 56 ."C .LD6 8C "5:48P"C
:LC"DI (8C5A= LI ." 0D (C (C85 "06- 40-.I .CI"C
0DI8C044P 8I.0 856" ND I.I )ID N"44 06I8 D80"IP= C."IP:044P
NP (8C N85"6 I8 "O:48C" 6 M0C08LD4P 8I.0 856" 0D C88I" 06 I." C""3 5PI.
"628P IC6D-C"DD0M" ".M08LC= 85"6 N"C" 8( "CD":.86" 6 "D 6 "O:C"DD086
DL::8D" I8 " 6LCILC06- 6-"4D 6ILC44P 8( ("CI040IP L4ID I.I -8 3 I8 60"6I
CN6 I8 I." 85"DI0 D:."C" LI I."P 8L4
"D8:8I50= PC860 ."C8"D C" MC0I086D
C""4 -06DI I.0D C84" 6 C"DD I."0C 86 I." C."IP:" 8( I." 58DI ("C" -8 06
6O0"I0"D 8M"C 85"DI00IP I.C8L-. )I086= 60"6I C""" "D I." C"4LD" N.8
."D" 68M"4D "O:48C" I." ("54" :C8"DD 8( 40M"D 6 0D84I" 40(" 06 I." 6"CN8C4 L6I04
4"M06- I." (504P .85" ".06 8( "8506- ." LID I." P8L6- 50"6 "CD":.86"
06":"6"6I= LI "D:0I" I." "0D0M" C84" I8 " .0D 86D8CI= ( 8I.0 ."C8 .0"M"D
8( 54" )-LC" I." :C8"DD 06BI "OI4P C""5:I086 0I 0D I.C8L-. 48M" N.0. N044 :LI
L6(84 06 86M"6I0864 NPD= 6 "6 I8 .0D 0D84I086=
." .8LD" ND CL04 "4"5"6I 8( I." 03" "CD":.86" I." 8I.0 ."C806"
DI8CP I." M"DD"4 I.I 86I06" I." 5PDI"CP= 5P " 306::" 06C"CI" 8C D05:4P
8I.0 568CD .8N"M"C C" 6"M"C D(" IC::"= LI 5L. 403" I." C""C D."
.M"6D= ." NP N"BM" D""6 I."5 ":0I" 86 0D (D06I" P I." 0CCI0864 D8 0IBD
I." 8M"CD 8( 97GRD ::"C3D :C8M0"D D85" ."C LC08D0IP I.I C0M"D 44 ."C I086D=
M0DL4 4L"D I." D06-4"/40I N068N (C85 86" 8( (I"C D"C0"D 8( 8C"4D D." "5"C-"D D
I." I8: 4"M"4D 0D 5"C04"DD "P" I.I NI."D 58C" 85:4"O .CI"C 86" I.I .D 4"(I
I." ."C806"BD "M"CP 58M"5"6IE I." .4(/ ."C 0668"6" ".06 6 .D "D:"
8:"6" N068N I." LCI06 +8N06- 6 I." 86M"6I0864 85"DI00IP C"D:"I4"
-44"CP 8( (504P :8CIC0ID C"M"4 I." :C"D"6" .LD6 4"-086 8( N"44/(" .04C"6 6
8( 6 06M0D04" I.C"I 6 .0DI8CP 8( .8CC8C 68CI. D0" 8( I." -CM"PC= ."D" "M0I086D LII"C 8C"85=
86I06" N0I.06 I." N44D 8( I." .8LD"= (C85 86M"6I0864 85"DI00IP :C8M0" ." 50-L8LD 5DL406" )-LC" ND
8I.0 568CD ILC6 06I8 :C0D86D I."P 8::C"DD -405:D" 8( I." 0CCI0864= 4NPD I." 82"I 8( C3 D"OL4 IICI086
I."0C 06.0I6ID L6I04 I."P 48D" I."0C D60IP LI "C8I00D5 C"506" 6 L6D:83"6
6 8550I IC80I0"D= ." (5040"D N.8
DL--"DI086= 44 I."D" ."C806"D C"506"
06.0I I."5 C" .L6I" P 6 L6D:83"6 ." 8I.0 ."C806" 56-"D I8 3"": .DI"= ." C0-0 58C4D 8( P-86" "C
LCD" & 5N856 06 I." II0 N44"/L: ."C C"D:"I4" :4" 06 D80"IP C"LCC"6I D"II06- 06 58"C6 8I.0D 86BI
6"DI8C 6 044"-0I05I" ."0C LC0" 86 I." N.04" "68L6I"C06- 6 D85".8N 2LDI0(P I."0C .80" & "M"6 86I"5:8CCP
': #. F-2, ; 0" 0D : :@E0:+ "0: 0@') 0-. 22 :+; 0" @' 1/=H;5
' D);C, "0:-C, E; : 2 @ ":0- 0. 00+ @0 @' . F@5
AA<
EEE5"0:@ .@)- ;50-
AA<
EEE5"0:@ .@)- ;50-
*8,//(502 '(/ 7252 21 &5,0621 3($. * 7# 7%( 7#3 '()73 2 29' 7*
* )782' *2%"%) ':<3 7% 7* 3%)3 *
7# +37. :)7 *7# 7#%)"3 %)
:)7 7# "#*373... 87 :)7
$ $$$ 7#( 7* 2+23)77%*) * 7#*3 3%)3
& &
) 7* *( '()73 * 2 )*7 2.
$ &
'& #* :)7 7* (& )*7 0"#*37 37*2<1 87
'$ & $'#$ $ 37*2< :%7# "#*373 %) %7 3 7# #272 *
#(( & # $# %7# 3<3 %) 7# '(.
AA<
EEE5"0:@ .@)- ;50-
."C806"D 86(8C5" I8 I." L6D:83"6 CL4" :; 2'0. C@ G ; @'
I.I DLCC"6"C06- I8 48N"C :DD086D "(8C" :00@ -G@' 0" @' 0@') 0-. 5
5CC0-" 8L4 4" I8 :"C0I086 6 "I.=
"5C34P 68I 44 8I.0 856"D N.8 D:0C"D I8 "85" 8I.0 LI.8C 6
.M" 86M"6I08644P .::P "606-= I3"D
CP ."44"P D ."C C84" 58"4 0I.
D08644P I." 54" 4" ND C"M"4" I8 LD.06- ;
0 D038ND3< 0D6BI 6 8C:.6
" M04406 & 5LC"C"C 4L4I06- C3" 6 .D 06 (I M"CP -88 C"4I086D.0:
86 CI0DI 8C IC0I8C= M"6 06 I.8D" D"D N0I. ."C (I."C= (I"C "06- DN":I 8(( ."C
N."C" ." ILC6" 8LI I8 " 2LDI P8LC C"-L4C (""I P C3 C8806- DIC6-"C N.8 D""5D
PC860 ."C8 I." .::P "606- 0D I06I" I8 ::C"0I" 6 L6"CDI6 ."C 40I"CCP
P 6 85068LD I.C"I 6 06M0D04" 5"6" "((8CID D." DICID 6"N 40(" 06 44"C4"
I.I I0"D 368I 06 P8LC DI85. (""406- 44 56D086 06 CLC4 L5"C46= I 0D
306 I8 NI.06-
6"C4"P 06 +5"D (C85 I."C" I.I D." "85"D "6IC::" N.04"
I." C5D 8( I." "I"C644P I8CILC"
O05 06 I." .8LD" 68I 864P 0D D." L64" I8 40M"
" 06I"C= ."C 40(" 06":"6"6I4P D." 0D 4D8 L64"
" D.8L46BI 4"I I." :88C >L40IP 8( D85" I8 C"I"= 6403" 58DI 8I.0 ."C806"D
060M0L4 DI8C0"D D:804 8LC "628P5"6I 8( I." 0I. 8"D6BI C":C"DD ."C D"OL4 "D0C"D
-"6C"= M"6 N."6 I."P "85" (8C5L40 D." ."C0D."D I."5 6 0D6BI :L60D." (8C
6 "C0MI0M" I." DL405064 0" 0D DLCC"6"C06- I8 I."5=
DLC:C0D06-4P DLM"CD0M" 6 0ID DL--"DI086D 0II06-4P 0I 0D 4D8 N856 I.I D0ID
C" (C 58C" 06I"C"DI06- I.6 I." 05:L4D" 06 I." M04406BD I.C86" D:" LDL44P
".06 :C68C54 856" C"D"CM" (8C 54" .CI"CD= LI
# ()3%*) %3 2329*%2 * 28'7< I." DL-"6C" I.I C":4" I." M04406"DD N" 4"C6 0D
28'7< 7#7 #3 ) +33 2*( 7#2 8I.0 856" 06 :L40 4D8 M0I05 8( ."C 8N6
7* (*7#2 ) 2*( (*7#2 7* #%' ) (M8LC= 05:C0D865"6I I." LC"6
7#) %)7* 3*%*+7#% 22 * (822 4I.8L-. D85" 8( 85"DI00IP 6
*2 +2* 7. * ( 7# (*37 '%7 3+%2%7 :C68C54 856" (50404 C"4I086D.0:D
* 7#7 '%)" :3 #*(3. :3 7# ."C806"D 5P " .D I3"6 0ID I844=
'( 7* 7# 3'8"#72 )*7 %7#. %7# D"OL44P 40"CI" 64" I8 "D:" D."
:3 2%3 372*)" ) 92< (2%) DDDP 6 :.PD044P "85"D I"CC0(P06-
:#%' #*(3 %3 *2 92<*)13 3%)3. DIC86- I."0C ."C8"D 360("/N0"406-
%3 7# *83 * '' 7#%3 9%' #%( ) #%3 & DL:"C6ILC4 586DI"C :4" 8(
87%8' 3%''< 2(3 * (#%)3 ) C"ILC"D 403" CLI4 ID 8( M084"6"=
7*<3. M5:0C"D 8C 44"C4" 44 I."
7 )< 27 : &): : ) 7* N"C"N84M"D & C" 8(I"6 I.C""/DI8CP .L6I" .8LD"
3%") 7#7 ()3%*) 7* :%7#%) ) %)# * :C"D"6I" D :C8LID I.I I883 D"M"6 586I.D I8
%73 '% ) : %. 7 :3 *) * 7# (*37 8( I."0C 0CL5DI6"D L04 0D I." C"4 586DI"C I.I
+%)37&%)"'< 3%") (*9%3 #9 M0I05D 8( :C"I8CP 6ILC" DL((8I"D I.8D" N.8 06.0I 0I= ."
92 ( ) :%7#*87 *87 7# I.I I."P 6 .C4P 86IC84= ."0C -.8DID & 8C-60 458DI +"D.P & D"CM" D
(*37 87%8'. 87 &): 7#7 %) *22 "((8CID I8 ".M" @.L56"4PA C" 06D:0C" 5"I:.8CD (8C I.0D 05:C0D865"6I 86" I.I
7* +782 7# #272& <*8 ) P I." ."C806"= LI N.04" I." C36"DD 0D "OI"6" I8 44 "I"C60IP=
87<. 8( I." 8I.0 ."C8 DI"5D (C85 .0D 8N6 #$! 5"C-"D "O:400I M084"6"
ID 6 I."0C 86D">L"6"D I.I 8( I." 6 -C8I"D>L" 488P ::C0I086D N0I.
$&$ *'"( #& # ' ' DL:"C6ILC4 C"ILC" 0D 4NPD "OIC6"8LD= I." I58D:."C" 8( "6IC:5"6I 6O0"IP
# # & &#
* " 0D I." C"0:0"6I 8( -0(I I.I D":CI"D 6 :C680 I.I 0D :CI 8( N.I I"
*' $ & #$& & && )*! .05 (C85 8I."C 58CI4D 6 06 I.0D NP "C-LD86 440D L" ("54" 8I.0= 6
." 6 " 06I"C:C"I" D I." C3 M"CD086 P C"DI8C06- I." "4"5"6ID IC0I08644P
&): :)7 7* 83 (&$8+ 73 8( I." DL:"C."C8 85066I )-LC" 06 D0"406" D ("50606" 0I C"ILC6D LD I8 I."
27#2 7#) ,;+7 :%7# 7# 2$ 86I"5:8CCP :8: L4ILC"= 8I. 8( I."5 C" ICL" C88ID 8( .8CC8C=
!*7%)" "#*37- 3* %7 :3 92< '*27 D:804I .04C"6 I." :"C("I :8DI"C 084D (8C
+2*33 7* 3#**7 7#(. 78''< 8%'7 7# -"6"CI086 N.0. .D -C8N6 L: "40"M06-
373 2*8) 7# ++2%7%*)3 (382 0I 0D D:"04= 0: ,20, #% %"% 31<=%4
7# *22%*23 ) 3%") 7#%2 3#+3 .. ,)"" )#%"# ! 31</%4
7* 0)3#2%)1 7# "#*373. &): :)7
.. ,)"" % &!"%&" %")
7#( 7* 2 :#%# %3 372%&%)" *'*82 8C D"M"C4 ""D 68N .8CC8C 06"5 31!B=4
7* 2+23)7 7# 3%)3 * 7# +37 87 7#7 .D D.0(I" 0ID (8LD I8 6"N .8C0Q86D ':,0@@ :0.@ )" 31!%<4
#3 ' 7* 3*( *)83%*). *( +*+' D4D."C (8L6 (88I-" I8CILC" :8C6 D.83 -),G :0.@ &%" %# 31!%<4
#9 7#*8"#7 7#7 7#< 2 '' 78''< .8CC8C & 44 D" 86 M0D"C4 ("C 6 2'. C
C:) :
31/A!4
+82'< 83 7# *'*82 %3 3* 9%9% ) 3* M0DL4 C":C"D"6II086D 8( I." )-.I 8C +0-.I
)@0:) 0,@ #%"## ) 31/=H4
<$7#%)". '' 7#7 ) 7# 7 7#7 06DI06IE 8C D 66 40((" DL--"DI"
0.. C;; 70- 0G9; :G).& @0 ),,
.
)37' :%7#%) 7#( '%3 3&'7' .8CC8C D 8::8D" I8 I"CC8C= ." 4II"C 0D ').+ )@9;
G C;. @'
0 :. 0@')8
3728782 ) 7*+'3( 3822*8)3 DI044 I N8C3 06 :DP.848-04 I.C044"CD= LI 31/<A4
7#(. 87 7#< :2 3#*7 *2 2' ) %) DD80I" N0I. 856" 6 I." ("50606" @ :&C;0. ,,); %#% #% %
3%78 )*7 *) "2) 32) *2 3 '()73 D""6 D 05:CI04 6 40.# 6
'# % &'"# #% )
* *(+*3%7. I."C"(8C" ""5" 06("C08C 8I.0 856" 31/!/4
.D ""6 (8C-8II"6= 6 I." :C8"DD .8CC8C
' *' & & # ! .D 48DI I8L. N0I. 0ID C88ID= L044"C58 "4
8C8BD KR9* )45 #$! I883 "0-.I
:*8' '*9 7* %) *) :< 87 *%)" P"CD I8 85:4"I" 6 "4 8C8 50ID
);
:3 92< #2. 7 :3 (*9% I.I 0I ND6BI "DP= IBD )45 I.I DN05D :);@0,(; *0C:.,);@
7#7 :3 3* +23*)' ) 3* '*3 7* (< -06DI I." I0" & 6 8" I8 48DI -"6C" I.I E'0 ;2 ),); ; ). ');@0:G
#27 7#7 %7 2''< 7**& %73 +*8) * !3# C"("C"6"D 0ID 8C0-06D 6 I.I 0D L6"604P :'0,0&G -G@' .
87 (< *278)7'< 37%'' #9 7** 86"C6" N0I. I." ("50606" 06 .8CC8C= -G;@ :G5 : &C,:
()< +*8)3 * !3# '7 ." C84" 8( I." ."C806" .D ""6 L:I" 0.@:)C@0: ;' ); 0.
:8CICP" D 6 06":"6"6I 5"C06 E)@@ : ; -*2C :D05
AA<
EEE5"0:@ .@)- ;50-
G L@ ?. G3 ? 1,)*G G3L?@
G* 1 3$ G* /@G 1GJ?N L* 1 1
M$3? 5?3$ @@3? @G 55 ,1G3 9J, G 3? 01N 5 35/ G* 1 @ 13L ,$ G* ?
0,+/ @ 5J ,1 @ ?* 3$ / 1 L@ 31 G*,1) G*G G* N =.1 L> 3JG G*
/338 ?N1 N. @ L@ 31 9J @G $3? ?/N *,@G3?N 3$ ?,G,1 ,G L@ G*G G*
) 1 G, @05/ @ G*G L3J/ * /5 *,0 3?,),1/ ,1*,G1G@ 3$ G* ,@/1@ * 1
05 G* ,3/3),/ 3?,),1@ 3$ G* 5 35/ @ 3$ 319J ? N 1 ,130,1) ? G*G L@
G* ?,G,@* @/ @8 L1G /33 313?@ 5*N@,//N K ?N ,$$ ? 1G $?30 G* ,1,) 1 @8
G3 @J55/N *,0 L,G* G* 0,G3*31?,/ 1 G* 535J/? 0,1 G*,@ J@J//N 0 1G
1 *?303@30 @ G*G * 3J/ G* 53@G+301 ,1K@,31 3$ G* G// $,?
J@ G3 G?. G* 5? *,@G3?, 0,)?G,31@ 3$ 1)/ @ M31@ 1
JG @ JG31, LK
?/N ?,G31@ # JG * )3G 03? G*1 * > G*G @L 5G ?3@@ G* ,@/1@ 30,1G,1)
?),1 $3? L* 1 /3/ ?,1. ? * ?,1) ,0G,1) 1 53?G,1) G* 3?,),1/
*,0 1G*J@,@G,//N @?,,1) *,@ 5?3- G @*3?G 1 ?. =?,G31@>8 1G,9J?,1@
G3 G* 5 35/ G G* ? .31 *,0 3K ? * MKG ??3L@ 1 03J1@
1 G3/ *,0 G* @G?1) G/ 3$ G* GL,1@ 3$ 1 * @ 1 G*G @30 31G,1 =/31)>
? )?318 1 G* ,? 3GG) *,)* ,1 G* *,//@ @.J//@ L*,/ 3G* ?@ * / G* ? 0,1@ 3$
*,1 G* ?J,1 ,@G ?,1 031@G ?N =?3+* > 5 35/ 8 *,@ G )3?,@G,31
3$ @G? 'J? 6G?G /3?,7 * /,K L@ @ 31 G* ?1,/ 6 5*/,7
G* @ * /3? $?0 ?@ # L*3 /@3 -J@G ,1 M # G* 0M,0J0 L,G* 3$ G* @.J//
*55 1 G3
1 ?G*/@8 L@ 0J/G,5/, N 4PP 1 ,K, N ,G@
G @ 0 G*G J?,1) G* 42&P@ 1 CP@ 0M,0J0 / 1)G* G3 ??,K G ?G,3 L* ?
G* @ ?3G* ?@ L3J/ 11J//N *3@G G* /3/ K ?NG*,1) J1 ? 0 @J? 0 1G 3$ B&82
@*33/*,/? 1 $3? 1 $G ?1331 G? G 3$ %OON L@ // =3/,*3 5*/,> 6/31)+* 7
535 1 . @ L*,/ G* G * ? J@ G* 0 1 K ?NG*,1) 3K ? !484 =?*N 5*/,>
@ /,K,1) 65? 7*,@G3?N M*,,G@ ,1 / GJ?
31 K3/JG,31 1 *J01 3?,),1@8
3L @
! 6?378 3/,*3 5*/, $3/. @ 0 G3
$3J1 G @,G @ G*G L ? 3/ ? 1 03?
N. @ *,0@ /$ .13L/ ) G* M,@G 1
3$ ? /,G
1 ?G*/ 535J/G,31 K 1 ,1
? 03G G*1 G*3@ 3$ G* ?3+* @
55? 1G/N ? 5? @ 1G,1) 5*N@,/ K, 1
G* L,/@ 3$ @G / @ @ 0 ,1* ? 1G/N
J1/,. /N # @3 L@ G*,@ -J@G G/ ,1K 1G N " G*G 31 535J/G,31 * ,1 1
? 5/ N 13G* ? ,1 G* 0J?.N 5? + 1
G* /3/@ G3 G @ G* K,@,G,1) 1)/,@*01: 53@G+ 301 N ?@8
? L@ G* ? @30 G*,1) 03? G3 G*,@ @G3?N
3$ 5? *,@G3?, 5 35/ @ @G,// /,K,1) ,1 G*
3L K ? N G* /G 42G* 1GJ?N ,G
L@ 30,1) 5/,1 G*G G* *,@G3?N 3$
@5?@ /N 535J/G =? 1 @ ?G> 3$ 0,+
/ @:
*J01,GN /31) 5? +G 30 8 1 G*
?,K ? @ 1 K @ 3$ ?1 @G31
* 1@L ?@ G3 G* @ 9J @G,31@ /, ,1 G* G33/@ L ? ,1) $3J1 /31)@, G*
*,@G3?N 3$ ? @, 1 1G*?353/3)N 1 1,K ?@,GN 3// ) 3$ / @ ?N@GLNG*8 31 @ 3$ MG,1G 000/@A 1 ,1 4!&2
5? *,@G3?N ,1 ?,G,1 J?,1) G* %?@G */$ 3$ K ? G* 3J?@ 3$ *,@ /31) /,$ 1 ? ?
3*1 K1@ 1 ?G*J? ? @GL,* 0 1
G* IPG* 1GJ?N8 * @, 1 3$ ?1,30 G?N 64!BB+42C27 / J? L@ 1M,3J@ @ *,@ 3$ 31@, ?/ @*3/?/N ? 5JG @@J?
K3/JG,31?N G* 3?N 1 @, 1G,% $@*,31 3,GJ?N ? 3? ;G3 0. // K,// ?,G,@* @, 1G,@G@ G*G G* @ G33/@ L ? 5?33$
30,1 L,G* G* 3?,),1 0NG*@ 3$ ?,G,1 .13L/ ) G?,JG?N G3 1 /J,G,31 3$ G*G *J01,GN * 5? +*,@G3?N 01 *
G* =? /> $,?, @ 3$ $3/./3? 1 G* 0 1 01>@ 5*N@,/ 1 J/GJ?/ 3?,),1@< # 1 31G 053??N L,G* 0003G*8 *
L*3 J,/G G* 0 )/,G*@ ,1 G* L3?. 3$ 31 1 *,@ ,@3K ?N 3$ K ?N 1, 1G @G?,1
? ?G
3*1 / J? ? )N13) ?3$ @@3? 3$ 5 35/ ,1 G* *,//@ 3$ 0,+/ @ L@ 9/"::/9 99@
/'- +C94
3$ 1G*?353/3)N 1 3)?5*N G G* @@ 1G,/ 5?G 3$ G*G 1 K3J?8
1'/@/ /" +C98: 7+H-+H,/- @H184
AA<
FFF4"/9@-@),:4/,
,,1) 9J @G,31 L@ L*G G*G 01 * 5?30,@ @ $3? G* G?JG*" G* N ? /LN@
/33. /,. 1 ?J,//N L*G ? /G,31@*,5 ? N $3? 5 ?-J?N<8 *,@ ?G* ? ,GG ?
* 3? G3 G* J?? 1G ,1*,G1G@ 3$ ?,G,18 @?,5G,31 0N M5/,1 N G* $G
N G* 4!BP@ @*3/?@ @J* @ ,//,0 3N G*G G* /@*
G,31/ ,@G $3 3J1,/
L.,1@ G* 3?,),1/ MKG3? 3$ 33. N * @30 N ?@ ?/, ? =L /@* > 31 G* ,?
3/ L ? ?)J,1) G*G G* @ 5GG ?1@ 3$ 5?30,@ G3 5N 3 4&P )J,1 @ ,1 5?,O
G31 ) J?,/@ , ,1 $G ? ' G G* 031 N8 K 1 @3 3 .13L/ ) G*G
03 ?1 ,@G?,JG,31 3$ ?,G,@* ? @ G* 3G* ? @5 G@ 3$ G*G 1G,31>@ 5@N*3/3),/
@.J//@ 3$ G// ?3+* ? L ? 0. +J5 L ? / @@ J155 /,1)8 * N L ?
$3J1 K ?NL* ? ,1 ?,G,1 1 ? /1 $3? M05/ 5@@,31G 3JG ) 1 /3), @
G*G L@ L3?G* 319J ?,1) L*,/ G*3@ 3$ *?G ?,@G, G*G L@ G3 0. G* 0 K ?N
@*3?G /31)+* 5 35/ L ? 31%1 G3 J@ $J/ G3 3G* ? ,1K @G,)G3?@ 3$ G* K3/JG,31
G* ? 011G@ 1 $? ) @ 3$ G* ,@/1@8 1 3?,),1@ 3$ G* ?,G,@* 5 35/ @ # @J* @
3? G* /G ,G3?,1@ G* @ %1,1)@ L ? ? ?G
3*1 / J? 8
? //N ?G* ? @G,@$G3?N8 * N 31%?0 G*G
G* J/G,0G 1 @G3?@ 3$ G* 1)/,@* ?
* J@ G* ,? G *13/3),/ 5*N@,/ 1
J/GJ?/ @J5 ?,3?,GN G3 1,@* G* 1 @G3?@ / J? L@ ,1G 1G 31 K /35,1) 1 L 03?
3$ G* /G, 1G,31@ G3 G* $?,1) @ # 1 3- G,K LN 3$ @GJN,1) ? K3/JG,31 ,1
?/N ,05 ?,/ G?,J05* G*G G* @3/, ?@ 1 ?,G,1 31 G*G G, *,@G3?N G3 ) 3)?5*N
0,1,@G?G3?@ 3$ ,G3?,>@ 05,? L ? G* 1 1 ? L 31 $3/./3? 1 /3/ .13L/ )
1G 31 ? ? G,1) 31 )/3/ @/ 8 5*N@,/ 55 ?1 @J* @ N 1 *,? @ 0J* @ ,G , 31 //,5 ?@ 1 @GG,@G,@8
G G* @0 G,0
3*1 3 3/3J? 5*/, ,1 M )? 3$ *,1 3? ?3L *11 / @/1 ? N ,?G* L*3 * @5 1G
3G3? 1 0G J? 1G*?353/3),@G L@ 5?3GJ ?1 1 @3 318 ?)J G*G 3G* 0J* 3$ *,@ *,/*33 @ 1 ?+,1K/, *
31 1G?G,1) 31 1/N@,1) G* 5*N@,/ G* 3?53? / 1 0 1G/ *?G ?,@G,@ L@ 3$$ ? -3 G G* 1,K ?@,GN 3$ / @
*?G ?,@G,@ 3$ G* J?? 1G 535J/G,31 3$ G* ,$$ ? 1G ?,G,@* ? @ 5 ?@,@G 6 ?N@GLNG*7 ,1 42P(8 05/3N ,1,G,//N @
,1 1 $$3?G G3 05 G* ,@G?,JG,31 3$ G* 3* ? 1G/N 3K ? G,0 @J553?G,1) G*,@ /,0 N 1 @@,@G1G / GJ? ? ,1 O33/3)N ) 3/3)N 1
M31 1,@* /G, 3? ?1.,@* GN5 @ # ? $ ? 1 G3 G* ?/N *?31,/ ?@8 53,1G 3G1N * 5G 31/N 31 31,G,31 G*G
G* ,1G // GJ/ 1 @G3? 3$ ?N1 N. @>@ 3JG G*G ?/ 3$ / @ $3? M05/ * * L@ /@3 //3L G3 5J?@J *,@ ,1G ? @G@
IPG* 1GJ?N ) 1 G, @J?K N8 1 G* @ 1 )? L,G* *,0 G*G G* /@* 53@@ @@ ,1 1G*?353/3)N 1 ) 3)?5*N8 *,@
3$ 1N .13L/ ) 3$
3? /33 )?3J5@ @L?G*N 305/ M,31@ L ? 3/ ,1 @5 * ,1G ?,@,5/,1?N 3?, 1GG,31 )? L 3JG 3$ *,@
*3L K ? 3 @ *,@ /@@,%G,31@ 31 1 * ;13 ? @5 G $3? G* ,? 3G*@ $3? G* 5 ,1G ? @G ,1 K3/JG,31 1 *,@ 5@@,31G
/'- /4 ' 9C)- //9 /" @9@ +/9) H; @' 9&9/- 7--9@'+8 @F)-: :C11/:+H +)E )- /@@& )- @' ')++: /E @' :)@4
AA<
FFF4"/9@-@),:4/,
3 L*G , * 3: ,. N. @ G G* 1
3$ G* 1GJ?N * G?K // ?3J1 / @
@ .,1) K3/J1G ?@ G3 5?G,,5G ,1 *,@
5*N@,3)130, 055,1) 3$ G* 1G,318 GL 1
42P& 1 42&! L,G* 5J@ @ $3? GL3 L3?/
L?@ * 1 *,@ 3+L3?. ?@ 0 @J? /03@G
1N31 1 K ?N31 L*3 L3J/ @G1 @G,//
$3? /31) 13J)*8 * N 5? $ ?? ;G* @,05/
$3/. @ G* 03? / ,@J? /@@ @ 3$ 1 ?/N
K ?NL* ? ? 3$ K ?N 0,M @ 1G<8
* N K3, $3? ,)1 ?@ 6 M 5G ,1 G* 3? ?
? @7 G*3@ L,G* 3K,3J@ $3?0,G, @D
%, 1, @ 1 N 1 /?) L30 18
* N ? 3? 31 %/ ?@ # 13L * / ,1
G* ?*,K @ 3$ G* 3N/ 1G*?353/3),/
1@G,GJG,31 ,1 3131 # G* G,/@ 3$ G* ,?
@J- G@> ,1,K,J/ *?G ?@ 6* ,)*G *
@*5 1 5*/, ,1 M ON)30G, ?*
)? 3$ 5,)0 1GG,31 5?30,1 1 3$ *,1
1 @3 317 1 L*,/ 31 0 @J? G* 3G* ?
L3J/ 13G 3L1 G* @J- G>@ $0,/N *,@G3?N
L,G* 5?G,J/? ? $ ? 1 G3 G* ,?G*5/ 3$
// $3J? )?15? 1G@8
* ? L@ 13G*,1) 13K / 3JG G* GN5
3$ ,1$3?0G,31 G*G / J? L@ @ .,1)8 JG
L*G L@ J1J@J/ L ? G* @G?G ), @ *
J@ G3 ? 3? 1 G3 ,@5/N *,@ G8 1
G*,@ 5? +,),G/ ) L,G*3JG G* @@,@G1
3$ 305JG ?@ 3? @5? @* G@ * K /35
/'- / @@,1@ @/ ,1 @' ):@9)C@)/- /" )""9-@ 9)+ @H1: G/- -):' +@) 9-*):' @N@G 0 3$ 13GG,31 G*G 0 1G G*G 1
- :/ /- ,/-& @' C99-@ 1/1C+@)/- /" 9)@)- H C:)-& 1'H:)+ '9@9):@):4 ,1,K,J/ @J- G>@ J1,9J 3053@,G,31
3$ *?G ?,@G,@ 3J/ ? 3?
GN53)?5*,//N 31 058 ?G,J/? @N03/@
/, $ G*G G* 5*N@,/ 1 0 1G/ * ?,G) =GN5,/> *?G ?,@G,@ 3$ G*G ? 8 1 L ? * / G3 ? 5? @ 1G @5 ,% @*5 @ 3$ @.J//
3$ *J01.,1 * G3 ,1K @G,)G @ ,G G*,@ LN G* N L ? ,1 @ ?,3J@ 1) ? 3$ 1 5,)0 1GG,31 @3 G*G 30,1G,31 3$
0 ?) 3JG 3$ ,1G ?G,31 L,G* 305/ M G* 0@ /K @ ? G,1) G* 3- G G*G G* N> G* @ @N03/@ 0?. ,1 ),K 1 5/ 31 G*
1 *1),1) 1GJ?/ @3,/ 1 J/GJ?/ @ G 3JG G3 @GJN8 35/ G*G /33. JG31, 05 3J/ 15@J/G G* 55 ?1 1
1K,?310 1G8 @ 5?G 3$ G*,@ 5?3- G * L ? G? G @ JG31, ,1 3?,),1 1 J@ /3G,31 3$ @30 31 L*3@ $0,/N * /,K
)1 *,@ )?3J1+? .,1) ? 55?,@/ 3$ G3 @*3L G*G M31@ L ? G// 1 /31 # ,1 G*G ? $3? G / @G G*? ) 1 ?G,31@8
?,G,@* 5*N@,/ 1G*?353/3)N ,1 42P& L,G* @ ?,3J@/N ,?J/? ?)J0 1G8 *,@ 0 1G GL3 G*,1)@8 ,?@G ,G 0 ,G
@J?K N 3$ G* /@* 5 35/ 8 *,@ 5J?@J,G / J? , G3 35G ,$$ ? 1G 53@@,/ G3 M0,1 G* ,@G?,JG,31 3$ 1N
L@ G3 3J5N *,0 ,1 3//3?G,31 L,G* G. 31 G*G ? ' G *,@ %?0 /, $ G*G ),K 1 5*N@,/ G?,G ,1,K,J//N ?G* ? G*1
K?,3J@ ,1@G,GJG @ 1 ,$$ ? 1G 3// )J @ G* ? L@ 5 1 ,,1) ? /G,31@*,5 G? G,1) ? +GN5 @ @ 5? +),K 1 3053@,G @ 3$
J1G,/ *,@ G* ,1 42C2 1 ,G L@ G3 ?,1) GL 1 *J01 300J1,G, @ 1 G* 5/ @ *?G ?@ / J? >@ 05 1/ *,0 G3 @
*,0 $ +G3+$ L,G* 5? *,@G3?N 0 ' @* L* ? G* N /,K 8 / @ * ?)J L@ ,1 L*G 30,1G,31 G* *?G ?@ 1GJ?//N
,1 0,+/ @8 G G* 3JG@ G * ? - G 1 M // 1G 5/ G3 K /35 1 L LN 3$ 3J?? 8 31 G* 05 @*3L *,0 L* ?
3G* @,05/,@G, 31G?@G@ GL 1 G* /G, @GJN,1) ? *,@G3?N8 *N@,//N ,G@ @*3?G ,1 / @ /J@G ?@ 3$ 1N ),K 1 *?G ? 3?
1 G* JG31, ? 1 G* @@J05G,31 ?. 535J/G,31 55 ? G3 ? /G,K /N 30,1G,31 3$ *?G ?@ L ? G3 $3J18
G*G /@* @5 . ?@ ? 5? @ 1G G* 5? + *303) 13J@ 1 N G G* 1G,K @ /,0 1 53,1G / 5G 3JG G *,08 *,/ G*
?,G,@* ? 011G ?,K 1 G3 G* ,@3/G ) @8 G3 / G3 =G //> 5 ?@31>@ ,@G?,G 3$ K@G 0-3?,GN 3$ G* /@*0 1 0 @J?
;* )?3J5@ @5 .,1) 31 1 G* @0 3?,),1 G )/1 8 , @J* /3/ GN5 @ M,@G L ? ?. 3/,*3 5*/,@ G* ? L ?
/1)J) < * @G? @@ G3L?@ G* 1 3$ / J? @. : 1 L*G /J @ L ? @J* %1,G /J@G ?@ 6=1 @G@> ,1 *,@ 5?/1 7
*,@ ? ? ;L ? 1 K ? G* / @@ 13G 3$ G* -J) 0 1G@ @ 1 *3L , G* N ? /G 3$ MG? 0 /31)+* 1 @@8 * @5?@ /N
@0 ? <8 JG 13G 31/N , * ,@)? G3 G* G )3?, @ J@ N 1G*?353/3),@G@ 1 535J/G *,//@ 3$ /N1/N031 1 N1N
L,G* G* @G1? @G3?N 3$ G* //+319J ?,1) ?*3/3),@G@: ,? G*3) ,1 5?G,J/? 31G,1 5 35/
M31 * /@3 ? - G G* @G?G ), @ G*G ,G,31//N 5?G $?30 ?G,1 L,G* ;)/ 1??3L * 3$ 31@, ?/
5? K,3J@ @*3/?@ * J@ G3 @GJN ? 8 / ?/N %1 ? @ G* ? * 1 / 1)G* L,G* G 053?/ *3//3L@ L // 0?.
?*3/3),@G@ * ?)J * @ G* ,? /,GG/ ,00,)?G,31 ,1G3 G* 3J1G?N ,1 1 * .31 @ @G?31) 1 L, <
?)J0 1G@ 31 G* @.J//@ 1 31 @ ? G?, K 03 ?1 G,0 @ 03@G 3$ G* 5 35/ G* N 5?313J1 ?3L ?,) @ 1 5?30,1 1G
$?30 ??3L@ K @ 1 )?K @ # L*,* L ? 0 G L3J/ G* ? $3? G* 5?3JG@ 3$ )/ // 6G* ? 3K G* 13@ 1
G33 $ L ,1 1J0 ? G3 5?3K, @$ @,@ $3? $0,/, @ @G/,@* ,1 G* ? @,1 G,0 GL 1 G* N ?3L@78 G @ 0 G*G G*
) 1 ?/,@G,318 1G*?353/3),@G@ ,1 31G?@G ,00 03?,/8 *J@ @ / J? 53,1G 3JG @G1? /@* *?G ?@ 3$ ?. /31)+
* 0 K@G 1J0 ?@ 3$ ,1,K,J/ G* ;,1,K,J/@ @?, $3? /3/,GN * 1 @@ L ? ;,1G ?0,1)/ ,1 G*,@
0 @J? 0 1G@ 3$ /,K,1) * @ 1 3, @ JG L,// /,. /N @ ,G L ? 31 1G?G ? 03G ? $J) L,G* @J?K,K3?@ 3$ @30 3/ ?
* G* 1 ))? )G G*3@ G3) G* ? ,1 3? ? @@ 1 @ 3$ G*G /3/,GN<8 ,1//N G* GN5 <8 1 $G ;G* @G?31) K /350 1G 3$
G3 @G/,@* G* =K ?) > *?G ?,@G,@ 1G,31/ $@,1G,31 L,G* ) 1 /3)N 0 1G G* )/ // 1 G* /3L ? ,1) $3? *
3$ 5?G,J/? ?,/ GN5 @8 *G G*,@ 0 1G G*G $0,/N *,@G3?, @ L ? ? ,/N K,// @J)) @G ,1 LN G*
1 ?G*/3,<8 1
,1 5?G, L@ G*G ,1,K,J/@ * 1 $3? ,1K @G,)G,318 ? 1,5,G3J@/N / J? G*,@ L@ 13 *1 3? 03 ?1 30,1G,31
, 1G,% L,G* 5?G,J/? ? G* ,? G*J@ * % / /3?G3?N G* @,O 3$ / @ 3$ *?G ?@ 3 >@ 3// G,31 3$ ?/N
0 @J? 0 1G@ * 1 /@@,% J1 ? K,// G3 G @G *,@ 1 L 55?3* G3 G* 5*3G3)?5*@ ,1/J GL3 3$ 0 1 3$ G*,@
G*G / / 1 G* 1 J@ G3 /J/G G* @GJN 3$ ?,/ *,@G3?N8 GN5 L*,* ,?
3*1 *N@ G* %?@G 5?3$ @@3?
AA<
FFF4"/9@-@),:4/,
3$ /G, G M$3? 1 *,0@ /$ 1G,K
3$ G* /3/,GN , 1G,% @ 30,1) $?30
/N1/N0318 * ? ,G@ /$ L@ ,@G,1G,K A
*?G ?,@ N / J? @ G* *,)* 033?/1
,G L@ ,@3/G 1 @5?@ /N 535J/G L,G*
31/N 31 G*?3J)*+?38 JG ,G@ ?,*1 @@ ,1
;?,) LN@" *JG @,G @ GJ0J/, @G1,1)
@G31 @ 1 ?G*L3?.@< L@ K, 1 3$
,G@ K/J G3 $3?0 ? *J01 300J1,G, @8 1
30,1G,31 G*,@ @J)) @G G3 / J? G*G
* * , 1G,% 03 ?1 535J/G,31 L,G*
MG? 0 /N ?*, $ GJ? @ 1 31 G*G
@ 0 G3 *K ,1*,G G* @0 ?
$3? @30 31@, ?/ G,0 8 3J/ G* @
G* $3? $G* ?@ 3$ N. @>@
1 ?G*/@:
305 //,1)/N / J? $3J1 3?? @531 1 @
GL 1 G* 0 1 3$ /N1/N031 1 G* @.J//@
, 1G,% N 1G*?353/3),@G@ 1 ) 3/3),@G@
@ G*3@ 3$ *J01@ L*3 * /,K ,1 G*
55 ? /3/,G*, # ,1 5?G,J/? G* @.J//@
G*G * 1 ? 1G/N $3J1 N 1?N+?
0, G 30 5 // ,1 3JG* ?1 ?1 8 13G* ? K?,1G 31 G* ,G ??1 1D ?,1 ? @531 N 0.,1) ;0N@G,%G,31
*,@ / J? ?)J L@ G* J/G,0G 1, 1G GN5 # G* @*3?G ?. *,? 5 35/ G*G $ 1 @ @0// 300J1,G, @ *K @3 3$G 1
?,G31 G* ?,/ GN5 G*G * ? * G* L ? G3 30 @J* 1 ,053?G1G / 0 1G 31 <8 / J? 13G, G*G ;$3/. G/ @ ? $ ?
,@/1@ ,1 G* K ?N ?/N 53@G+)/,/ @G) ,1 3G* G* /@* 1 G* ?,G,@* 535J/G,318 ,1 01N @ @ G3 G* 31G?@G GL 1 G*
K 1 $3? G* N 0 ,@/1@ ? 5? @ 1G JG 1 ,G* ? G* N 13? G* /G ? 30 ?@ # G* K// N+$3/. J@,1) ,?31 1 J5/1 $3/. ,1
,1 G* 03 ?1 535J/G,31 N G*,@ =1 @G> 3$ @5 . ?@ 3$ G* ?NG*31, /1)J) G*G 5? +,?31 @G) 3$ J/GJ? < @J)) @G,1) G*G
/@* 033?/1 0 18 0 /@* # L ? / G3 ? 5/ G* * ? L@ G* 3?,),1 3$ G* L, @5? $3/.
033?/1 $3/. ,1 G* ,? *,//@8 /, $ ,1 $,?, @8 ,?N *,/? 1 6*1) /,1)@7
L,G* G* @ /G ?31O D ?/N ?31 * ? /,@ ;? /LN@ @?, ,1 @J*
JG G*G L@1>G // G*G / J? >@ 05 ) ,130 ?@ G* 5 35/ 3$ G* 033?@ LN @3 G3 @J)) @G G*G G* N L ? ?. 1
@*3L *,08 1 G* /@* 3@G * L@ G*G G* N L ? G* *,/? 1 3$ G* 5/1
/ G3 , 1G,$N 13G* ? J1J@J/ )?3J5 # 3/. 3$ 3J? *N53G* @,@<8 //+K ?@ ,1
5? 531 ?1 3$ ?. ?3+* 0 1
;3$G 1 J?,3J@/N @@3,G L,G* 0 )/,G*@<
! * ? /3? 1 J1L,//,1) G3 J@ ,?31 $,?, @
/ J? 31/J ;? G?1@0JGG,31@ 3$ G*
1 @G?31)/N ? @ 0/,1) 5*N@,/ GN5
@, G3 $3J1 // /31) G* J?35 1 " ,1,) 13J@ 033?/1 $3/. /,K,1) $?30 1, 1G
G,0 @ 3K G* /3L/1 3.L33@<8 K ?
@*3? $?30 3JG* G/N G3 ? /18 * @ * G,0 * ?)J G* 31G?@G GL 1 G*
@J)) @G ? 5? @ 1G /G ? 535J/G,31 3$
0?,G,0 5 35/ @ 55?3*,1) G* ?,G,@*
K// N 1 033?/1 $3/. ,0,1,@* # JG
@,1 /,$ ,1 G* *,//@ L@ ,GG ?/N *?
@/ @ $?30 G* L @G 5?3/N @30 G,0 $G ?
G* G*,? 0,// 11,J0 5 ?*5@ ,1 @ ?*
" ,1? @ 31GG L3J/ / G3 3JGL?
13G ,1L? 0,)?G,318 K 1 $G ? G* 033?@
3$ 0 G/@ 1 5? ,3J@ @G31 @8 * @ L ?
5 35/ / ?1 G3 @5 . /@* 1 GG 1
- /" +C98: ,1: 9/9)-& +C:@9: - /,)-@)/-: /" 1'H:)+ "@C9: 9/:: +:4 +C98: @H1)+ 7+H-+H,/- -8 27
AA<
FFF4"/9@-@),:4/,
' ')&' ,//9+- /" +:8: 79- :9@8 F: '/, @/ @' )-)&-/C: 19()9/- 71+- /+*8 @'@ +C9 +)E F9 @' 19/+ :): /" +:' ")9H +/94
*5 / ;G* 033?/1 *0/ G@ 3$ G* 5? @ 1G @G? 1)G* 1 1G,31/ ? @,/, 1 ,1 G* $ L*3 3$$ ? G* 0@ /K @ $3? 0 @J? 0 1G<8
N ? @G,// 3$G 1 ,1 G* *1@ 3$ K ?N 3/+ 3$ $JGJ? 3130, 1 0 ,/ 0 ?) 1N8 G>@ *? G3 ,0),1 *,0 13G 0 1G,31,1)
@G/,@* $0,/, @ ,1/,1 G3 ,1? ,1)< ?,G,1) G G,0 L* 1 1G,31/ @J?K N@ *,@ /, $ ,1 G* 1, 1G 3?,),1@ 3$ G* /3/@
# 1 ?J,//N @G,// ,1 53@@ @@,31 3$ G* 3$ G* 1G,31>@ * /G* L ? ),11,1) G3 ,1 G*G / GJ? 13G / @G G3 13J?) 5 35/
?*, 30,1G,31 3$ 5*N@,/ $ GJ? @ %?@G 30 @G1? * 53,1G 3JG G*G -J),1) G3 5JG G* 0@ /K @ $3?L?8 1 1G,31
@ 1 ,1 G* /G /3/,G*,8 ,1,K,J/@ ),1@G @30 J1,$3?0 @G1? 3@ @@ L,G* *,@G3?N L*3 L3J/1>G L1G G3
3$ =13?0/,GN> L@ $33/,@* ,$$ ? 1G ?,/ .13L G*G G* ,? 1 @G3?@ * 1 5?G 3$
GN5 @ N %1,G,31 L3J/ M*,,G ,$$ ? 1G G* /1@5 @,1 G,0 N31 0,1: JG
5*N@,9J @8 *G L@ 13?0/ $3? *,/ ,1 G* @G3?N G*G N. @ * ? L@ K ?N @5 ,%
/ J? # ? @5 G 5?3$ @@3? G G* 033?/1 / @ L@ 13G 1 @@?,/N @3 $3? @30 G,0 ,1 G* 42&P@ 3? CP@ G* ? L ? GL3
1,K ?@,G, @ 3$ / @ 1 1* @G ? //3L 31 $3J1 31 G* $ 1/1@ 3$ @G 1)/,8
1 ?G*/ ?3G* ?@ L*3 /,K J5 ,1 G* *,//@
3$ G* 3N/ 3, GN 1 5? @, 1G 3$ 01N 1 L31 ?@ L*G * L3J/ *K 0 3$ G* 3K @G? 'J? 1 11J//N ? )/ G*
3G* ? / ?1 @@3,G,31@ # 31G,1J G3 03 ?1 3@ @@,31 L,G* 0 @J? 0 1G@8 @*33/*,/? 1 3$ ? )?31 L,G* / 031
5J/,@* 31 G* 5*N@,/ 1G*?353/3)N 1 1 G*,@ 31G MG 1 G *,@ ,1@,@G 1 ,1 . @ 1 K3/JG,318 3 L* ? , G*,@ @G3?N
K3/JG,31 3$ G* ?,G,@* 5 35/ J1G,/ G* 42&4 G* 3N/ 1G*?353/3),/ 1@G,GJG 30 $?30:
1 3$ *,@ /31) /,$ 8 1 G* @ 33.@ 1 )1 1G,31+L, @J?K N 3$ /33+)?3J5 @.,1) /3/ 5 35/ 6,1/J,1) G* 5? @ 1G
55 ?@ * 31G,1J G3 *00 ? *30 ,@G?,JG,31@ 5?3- G G*G L@ %?@G G. 1 L?,G ?>@ 5? 1G@+,1+/L7 3JG G* M,@G 1 3$
G* 31/J@,31@ * * ? * @30 (P 3K ? N G*
J$% / /33 ?3J5 1G?
1 ?G*/@ /,K,1) ,1 3? 1 ? G?G /3?,
N ?@ ?/, ? # L,G* 5 ?*5@ @/,)*G/N 1 G* 1 N G* ,/ @ ?* 3J1,/>@ L@ 1 M ?,@ ,1 0JGJ/ $' 0 1G8 JG
)? G ? 05*@,@ ,1 G* 53@G+L? N ?@ 31 ?3/3),/ 35J/G,31 1 G,@ 3?G3?N # G* 9J @G,31 , @G,? K)J 0 03?N $3?
G* 5 ?1,,3J@ 1GJ? 3$ G* JG31, ? + 1 L3J/ K 1GJ//N $ ,1G3 ?N1 N. @>@ @30 3$ GL3 ?3G* ?@ L*3 * /,K 1 ?
@J5 ?,3?,GN 0NG*8 * 3? 3$ G* ?,G,@* ) 1 G, G/@ 3$ ?,G,1 G* @J?K N L,G* L*,* 31G ?LN K,//) 3JG 4H 3? 4( 0,/ @
535J/G,31 * ?)J L@ 1 ,G* ? /G 13? G*,@ @G3?N )18 $?30 @G? 'J?8 1 L@1>G G* ? @30 G*,1)
M318 1@G ,G L@ G* ?. /31)+* 3JG 31 3$ G* 0 *K,1) $J11N+@*5
3/,G*, GN5 %?@G , 1G,% ,1 / @ G*
* : 3?,1) G3 ?LN 3L //@ /3/
1J0 ?@ 3$ L*,* * ?)J L ? GJ//N 3 L* ? 3 @ // G*,@ / K N. @ 1 @* 5* ? 53 G 1 @*3/? G* @ ?3G* ?@
,1? @,1) L,G*,1 G* 535J/G,318 30 G*,1) G* G/ 3$ G*
1 ?G*/ GL,1@ 3$ L ? G*
0 @ ?3G* ?@ G* /@G 3$ $0,/N
,1 G*G 30,1G,31 3$ *?G ?@ 0 1G G*G ? )?31: / ?/N / J? , 13G /, K L*3@ ?33G@ * )?3L1 5 ,1 G* /3/
G* ,? 53@@ @@3?@ G3/ ?G ?3L ?05 * * , 1G,% ? 011G
1 ?G*/ /1@5 8 JG G* ?3G* ?@ * 1 $3?
J?1 31,G,31@ GG ? G*1 , G* G// $,? 535J/G,31 ,1 0,+/ @ # JG 9J//N / ?/N 3JG 3$ G* ,? 1GJ?, @+3/ $?0*3J@ L* 1
3?,@8 * , /, K G*G /3/,G*, 5*N@,/ G* K// N /3L L@ '33 G3 0. G*
,G* 13 G3 G* 1G?/ 5/11,1) G*G L@ *?G ?,@G,@ * 5 ?@,@G ,1 G* 03 ?1
1G+N+3* ? @ ?K3,? ,1 42C(8 *,@ K,G,31
*?G ?,@G, 3$ G* 53@G+L? 5 ?,3 # 1 535J/G,31 3$ /N1/N0318 G>@ MG? 0 /N /,. /N L@ 13G 3051, N G* LK @ 3$ K,3/ 1G
G3 G* 05/3N0 1G 3$ $JGJ? ) 1 ?G,31@ 3$ G*G G* /3/ 535J/G,31 .1 L G*,@ / J? 1G,+1)/,@* 5?3G @G G*G L ? 5?3K3. L* 1
1G*?353/3),@G+) 3)?5* ?@ # * ?)J G*G /,K ,1 1 ?3J1 ?N@GLNG* $?30 4!2B G* /@* K,//) 3$ ?NL ?N1 L@ ?3L1
L,@ )3K ?10 1G L3J/ 13J?) )? G J1G,/ 42HP 1 31G,1J G3 K,@,G G* ? G3 0. 13G* ? ? @ ?K3,? $3? ,K ?533/ ,1
K?, GN 3$ *J01 @G3. L,G*,1 ,G@ 535J/G,31 ? )J/?/N J1G,/ *,@ G* ,1 42C28 @ N. @ 42C&8 JG ,G , GG?G G* /3@ GG 1G,31
1 L3J/ 031,G3? G* ,? ,@G?,JG,31 , @ /G ? *,@ @G1? G *1,9J $3? 3$ ? 53?G ?@ 1 %/0+0. ?@ L*3 ? 3?
? $J//N8 * K?, GN L3J/ 305/ 0 1G %1,1) @J- G@ $3? *,@ @J?K N L@ G3 ;K,@,G 1 ?3@G G* ? 03K/ 3$ 3, @ $?30 G*
1 305 1@G $3? G* 3G* ?>@ 5*N@,/ 1 ,@G?,G G3 0. 3J? 5J?53@ .13L1 N /,GG/ *5 />@ )?K N? 1 G* ? /3G,31 3$
0 1G/ @G? 1)G*@ 1 L .1 @@ @ 1 G*J@ / GJ? 3? 3G* ? 0 1@ 1 G3 5G // 0 1 ?31 ) ,?1@ @ G*
0 @ ?3G* ?@ L ?
AA<
FFF4"/9@-@),:4/,
/N1/N031 *,//@ ,1 03K G*G $3? @*3L
@ ?,3J@ 1)/3+ /@* 31',G 30,1)
3,1, 1G//N 31$J@ L,G* G* $$3?G@ 3$
53/N0G* @*3/? G3 *?G G* 305/ M,G, @
3$ ?,G,@* ?,/ 65? 7*,@G3?N G*G /N *,1
G* @G1? M31 K ?@J@ /G @G3?N: ? L@
,G 0 J5 3JG 3$ L*3/ /3G* N /@*
?,1. ? . 1 ,G* ? G3 1G ?G,1 *,0@ /$ G
G* M5 1@ 3$ G* K,@,G,1) 1)/,@*0 1 3? ,1
G* *35 G*G G* K,@,G3? L3J/ ? L? *,0
L,G* G* 5?, 3$ 5,1G:
,G* ? LN L*G G* @G3?N 3$ G* GL,1@
3$ ? )?31 15@J/G @ ,@ G* ,,1)
$@,1G,31 G*G 3?,),1 @G3?, @ 1 3J1G@
3$ G* 13G+9J,G +*J01 1 K3. @ L // @
G* ,K ?@ LN@ ,1 L*,* @, 1 ? @531@
G3 @3,/ 1 61 K, K ?@78 * ,/
13 /31) ? L*3//N @G,@% /G ,G3?,1@
1 L?,1@ L*3 @3J)*G 1 L ? 03?
@, 1G,% M5/1G,31@ 3$ *J01 3?,),1@
L*,/ G* 1 3+/,O G*1@ G?, G3 J@ G*G
@, 1 G3 0. ?G,31/ 5/1@ $3? G* 1G,31>@
$JGJ? 8 300 ?,/
1/N@,@ 6K,//
N 0,/ 3? ? K ?G,@ L* ? K ? ,),G/
3JG/ G@ M,@G7 ,@ 0 ? /N G* /G @G ,1?1G,31
3$ G* ,,1) 31 ?1 L,G* L* ? L *K
30 $?30 1 L* ? 1 L* 1 # 5 1,1)
31 3J? ) 1 G,//N 0 @J? @J@ 5G,,/,GN
- /" @'
,: 9/@'9: @
-@(H(/' 9, +//*)-& -/@')-& +)* +C98: 7+H-+H,/- @H184 G3 1N ),K 1 ,@ @ # L ? /,. /N G3 )38
JG ? ?G / J? >@ L3?. $3? // G*G ,G
,@ ?*,//N M5? @@ ,@ ? 0?./
$3? 3JG 3$ G* ,? 1G,K *,//@8 /,. G* %1,G,K ,0) 3$ G* =/N1/N031 5? @, 1G ,1 *,@ ,1@,@G 1 31 G* 3+ K3/JG,31
1 ,G @ 0 G*G G* ?3G* ?@ * GN5 > G*G / J? @?, 1 ,1/J ,1 3$ 3?)1,@0 1 1K,?310 1G @ L // @
,1 G @30 53,1G 1 ,1 31GG L,G* *,@ 424C ?G,/ # /G*3J)* 13G/N G* N 3 *,@ ,1@,@G 1 31 G* 1 G3 G. 3J1G
/ J? 8 ?LN 3L //@ ? 0 0 ? G* @G3?N ? @ 0/ 3 >@ =N0?3+?31O > G )3?N8 3$ ?,/ 6 G*1,7 3?,),1 L* 1 @@ @@,1)
/ J? * 0 @J? G* * 3$
3*1
0 @ 3L K ? L* 1 / J? >@ =GN5 +5,GJ? > 3$ ,1,K,J/ 1 1G,31/ * /G* # 1 ,G //
1 $3J1 G*G ,G L@ 1 @3/JG /N GN5,/ /N1/N031 1 L@ J@ ),1 ,1 42IP 0 $?30 G* @5?@ /N 535J/G )? 1
M05/ 3$ ?G,1 /3/ *?G ?,@G,@ # @3 ?G,/ G* 5? K,3J@/N 131N03J@ @J- G @ ?G 3$ 03J1G,13J@ 0,+/ @8 * ? >@
0J* @3 G*G ,G @ ?K G3 31 M*,,G8 L@ 13L , 1G,% N *,@ ,1,G,/@ # =
/'- / ! 99@
/'- +C9 +FH- @F- 0.B< - 0.A= /F- 7)@C9H
9H- H*: 2BII=3 # # $# # E): 7'H:)+ '9@9: +)-& F)@' @' E/+C@)/- /" 99@
/'- +C9 20<<(
# !! ' # # # # ( !# ,/-& +:',-8 $ )E)+):@)/- "9/, @' 1: @/ 0.=.38 %&
#! $ # !# ( $ 0# 91C+):' # ( # @' 9/- &4 =I 0.<I 11%%A(%%#4
-@, 9:: /-/- BII=4 0.<0 C@')-:/- - /4 !##$# # # +C9
,: 0.0= +C9
,: 0.#
5C/@ @*- "9/, 1B.4 # 0.# 1%B4 1%#4
9+ /9&- 11%#(.#4
&# !# ( /,9 E) ++-8: ) 1%04 //@& "9/,
9:: +-H:C+ BII#4 +:/ 7 -@9/C@)/-8 @/ @' 0.<0 +C9
,: 0.# /C,-@9H '9/-)+)-& @'
C@')-:/- )@)/- /" 1%#4 +C9 0.#0 1A<4
'@@1>>-4F)*)1)4/9&>F)*)> 9/F-)-& /" @' "9, -
:9@D/"D+:4 ! #4 99@
/'- +C9 ) 1=B4 '1+ - "/C- @ FFF4
$ %
C+H 0.=. 1%4 +) 9-@@ 799@ #$ !# (
+C9
,: 0.0= H/C@C4/,>F@'6E!(
/'- +C9 0<<(0.=.8 # % ! !#$( 1<04 1 = .::4
/'- 9:@F)' 7+)-@
! #! #&
),1+,-@: )- @' 9)"@8 ) 10A<4 99@
/'- +C9 7/,
&! # (
#(
% #! 9+H --@'9/1) @H1: )-
#$ 0#. %%I( 0= 0.<I 11B#A(B< /++)-: /-/- 0.#04 '): ) 10%=4
%0;
/'- E-: 7- C9/1 - @')9 ,/9-
99@
/'- +C9 119 : 19@ /" @' 7
F ) 10%# 0%=4 919:-@@)E:8 $
@' /C99- /" $)-@
@C9+):@8 :9): )-:1)9 H
)-:@9C,-@:8
,: 7/&91')+ +C9 0.#0 1.%3 # ( #
):@9)C@)/- /" -@'9/1/+/&)+
C+)- CG+H - C+H !##$# # #
A 0=I11BI(AI<4 @,1 ,/-& /@'9:4 99@
/'- +C9
@H1: )- +:8 $ # # - #I 0.BI
)++), /H F*)-: % +:/ @' ! !#! #! %!#
( # !##$# 110B(%I4
$# ,)++- /-/- :9): @'@ ' /(F9/@ F)@' G"/9 @ @' +9-/- 9::
# # #
0<%4 9/+ * 1C+):' 0.% 10#4
%= 0.0= 11A#(0#A;
H G"/9 -)E9:)@H 9::
AA<
FFF4"/9@-@),:4/,
"
!
# !
!
!
"
+
9+ 6 "$(0 >)9 969 + ($'& )
9+ "5 )>6 + "$6 6<5=$=$)! 5'9$=67 9"$6
(<" " " ?-'$) >") "$6 6-$5$9 '69
--5 9+ "5 $) 5(0
" 5<)$+) >+<' )+9 6$(-' )
$9 >+<' )+9 1<$& "+>=5 6$) $9
>6 !+=5) @ +(-'? =$''! -5+9++'0
)$ >6 )+9 9" +)'@ -56+) )6 $)
9" 5+& 5@-9 ) 6+'<9'@ )+ +) +<'
5(+= <)9$' 9" '5 + 9" =$''! =)59$+) 69$=' '9"+<!" 6<" -5+6$
55$=0+ + 6+ +5") >6 9+ =$+'9 95)6'9$+) 6''6 9" 6"+59 6$)
9++ ) >+<' 51<$5 9" 65$ + $946 -5+'@ 9" >+5'46 !5969 5$9<' +
-$! +5 <'+ $) ?-$9$+)0 + +5 )$46 +)$)! 9>) 9" '$=$)! ) 9" 0
(+9"5 9"5 >6 )+9"$)! '9 9+ + <9 +5 6$($'5 5$9<'6 6 2>&)$)! 9"
>$9 ) >$'0 ") "5 6+)46 6&9 )''@ $) !653 @ $"' 5$)
(5! 5+( $96 !5= 6=5' "+<56 '95
0 9 $6 9$( >")
9" +@ >6 5<''@ <)>5-- 9+ 5=' ($'$6 5(+= 9"$5 6 5'9$=6
5+99 566 +=5 $) $59 ) 5>'$)! 5+( 9"$5 !5=6 ) '++& 95 >"9=5
>$9" 9'6 6$!"9 9"9 >+<' 5$= (+69 $6 '9 + 9"$5 (<(($ +$60"
-5)96 9+ 9560 <9 )$46 (+9"5 "' >$'' ') <6<''@ @ <69$)! >$9"
$)69 9" +<)9)) + '+=0 " 6+9#5$69' 5<6"6 ) +9) +>) 9+ 9"
-566 59+) + +))6 ($'& 9+ 9" !)$9'6 ) )<6 566 $) )> '+9"6
5+99$)! '$-6 ) !) 9+ 9'' + '' 9"9 " ) 9" 5())96 + 9"$5 "$5 >$'' 69@'0
-66 6$) 9"@ " '69 6-+&) 6 )$46 ) 9" 9>+ !5+<-6 6-59 @ 9" !- +
5+9"5 ) 6$695 5' "$6 "0 (+59'$9@ >$'' +) !$) 6"5 " +9"546
9 >6 $A55 6) +5 ) +<96$5 +(-)@0
6+(9"$)! 9"9 ($!"9 +)6$5
!"+<'$6" 9+ 9" -+$)9 + 5=<'6$+)0 <9 "5
$) 9" -5+=$) + ) +5% $9 >6 ) @ 9" )?9 (+5)$)! $) ) 5+<) 9"
$(! + !59 <9@0 ) $9 >6 6) '5!5 9+>)6"$- + <'<')!&) (+5
9"9 >6 +<9 9+ 5-'@ +=5 9" >5 $)! 56<5590" <!"95 +
+''+>$)! @6 $) +9"5 =$''!6 '$)$)! 9" +") )6 --$ >6 +) ") 6 "5 9"546
)5@ (+<)9$)60"$6 >6 9" 569 @ + =5 >6 695$-- +>) 9+ $96 >$9"5
9" '+' '59$+)0 ()6
$(# 0!! -) (3 $( & 6" <''@ ') ) 5#5+ '' 9+
)69+5 ) 9" (+69 '$95' 95)6'9$+)
(-/(# $ $# #) %%& !59 )5 +) 9" 5++ + 9+( $)!
+ 9" 95( >+<' 9+ '' $9 ) )69+5 #! %%! ) )%(/ /% 3 ) "!3& 9" ($) 5+0 @ '95 9" 6$9
..*
111&$(-#-")&$"
+5-6 + $(+)! 5 >"+ " $ :B
@56 -5=$+<6'@ >6 99 $)9+ )> !5)
566 @ "5 !5)6+)60 )>"$' +)
>6 +-) 9+ 5=' )!!'
--'
>"+ " $ 9 9" ! + *B $) ;BB, )
>6 6<55+<) @ ) )9$5 59$)< +
6))96 >"+ 9++& 9<5)6 <99$)! >@ "$6
$59@ 6<$9 >$9" 6$66+56 5<''@ 99$)! "$( $)
)> +) ) %<69$)! "$6 !'666 9+ 9 9"
<55)9 $()6$+)6 + "$6 95$+59 "0
9 +9"5 9+(6 $))96 >5 +)
!$) (5 @ 9"$5 (+9"56 )
"$'5) " ") 9+ (9 9" !59
!5)-5)96 9"@ )=5 &)>0" '$=$)!
'$!"9 $) 9"6 5<)$+)6 ) ($!"9
5@ '<!" +5 9'' 69+5$60 )@ )6 + 9"
6 -66 +) 9"5+<!" 5(6 +5
=$6$+)6 >5 99) 9+0 <69 6 )$ $)
+)+) >)9 ($'& +9"56 ($!"9 "=
-' 51<696 +5 59$) !5()96 +5 $9(6
9+ -' >$9" 9"( 6& +5 ($'@ )>6
+5 6$(-'@ 9+ 6 5'9$= >"+( 9"@ ($660
+( + 9" +5-66 >5 =) >'& 9+
) 5+( 9" ($'@ "+( 6+ 9"9 9"@ +<'
+65= '' 9" ($)<9$ + 9" '$=$)! >+5'
9"@ " '9 "$)0
+ +9"5 <'9<56 9"$6 ?9$+) +) '$)! <60 <9 "5 9" +)49 99& 9" '$=$)!
$59'@ >$9" 9" $6 +)6$5 6+
?66$='@ (5 9"9 $9 "6 !$=) 5$6
9"946 +($' )+9$+)0) +5% $6
-' +5 9" '$=$)! <9 9"@ '$= >$9" <6
9+ $A55 69+5$6 $)'<$)! 5<(+<56 +<9
) +5% $)! -+-<'9 @ A+($60
6 5$)6 ) '+= +)603
" +))9$+) 9>) 9" 9>+ !5+<-6
'+' 9)!5 >"+ &)+>'!6 " "6
6) > A+($ (+=$6 $6 (<6 @ 6<" $6 6+ $(-+59)9 9+ +5%) 6+$9@ 9"9 9"
$6 +)6$5 ) $)6-5' ) 66)9$'
9'6 <9 '6+ -+$)96 +<9 9"9 9"5 $6 )
$5+)$ '()9 + 95<9" 9+ 9"(0 2"@45
)+9 5''@ "5 )+9 $) 9" >@ @+<
+<)95-59 9+ '$0 '+' 95( 556 9+ 9"
9$( 6"5 @ 9" '$=$)! ) 9" 6
25<5 9$(30 $95''@ '69$ $9 $6 9$(
<)569) $90 + $946 95< 9" '$=
(+)! <6 ) 9"@ ) +((<)$9 >$9"
9"9 (+=6 )+9 5+( -69 9+ <9<5 <9 59"5
65=6 6 ) <(5'' 9"9 <)$96 +9" !5+<-6
/"") ( (/!!3 ("$0 ($" -( -$") $( - &
"$#
( ) -- 1- #1 (# ()) 3 ( (#)$#)&
#!
'-## 1$ ( 13 # - )$/- $ - )!# ) 1!$" -$ ) $" 3 (!-0) 1$ !0 $(#) $ ) # -! #/-) $# ) $3&
..*
111&$(-#-")&$"
# ) /#1(%% 3 ) "$-(& %%( -$ ( # (" ) # $( "! # #1) $ ) !0# (!-0)&
$# #) %% !# # %%(&
..*
111&$(-#-")&$"
"
#
"
! !
"
IBF 5B.5311M! 1.2
F%F=CF= 0+ -H(CF= -C -(C
#2#A+#B 5IF 751.F..3 - =0,C(, =<(!< 0 %0C=5
F,F .B B5 1IA." 3"
I3#1.#J1# #J#3 52 F5 # +#3.IB K,5 75BB#BB#" 35F
FB53 2.+,F ,J# FA5I1# 531M 2N.3+ "A#BB-B#3B# 3" 3
BK115K.3+ .F: 3# A##3F BI, F1# .3527A1# 5223" 5& F,# 3+1.B,
&A52 2#A. .B 3 #L#11#3F B# 13+I+#! IF! /IBF B .27A#BB.J#1M!
.3 75.3F: 5A".3+ F5 B#A.#B 5& 5K3#" =2I1F.71# 527IF#AB
B#3BF.531 B1IAB 2"# "IA.3+ F5#A 7#AB531 1.AAM:> ##2.3+ 11 1KM#AB
HO6(! .#AFA.3 AFM 3"."F# =35F,.3+ 25A# F,3 7AB.F#B> K,5
&A52 15A." KB 57#31M IB#" 5& =&##" 5&& 5F,#AB 1.0# K5A2B>! 51
,J.3+ BA.'#" +5F F5 2MBF#A.5IB 11#" I753 ,.B 7##AB F5 =1550 I753
I3-,A.BF.3 +5"B 3" F,#3 B1IA7.3+ M5IA 1.J#B 3" A#7#3F>! F,#3 A52#"
I7 .FB 155" .3 .NAA# A.FI1:,# KM F5 2##F F,# +5"B: "A.3 M11.#
BFA3+# F,.3+ 5IF F,.B 7AF.I1A K5I1" ,J# ##3 ;I.F# ,77M .& ,#
25"#A3-"M K.F,-,I3F! ,5K#J#A! KB ," 3#J#A A#FIA3#":,# .#AFA.3
F,F .FB FA+#F A#11M KB &5115K#A 5& 1#"#A 11#+#" F,F 3J.FIB KB F55
F,# A0 AFB: #LFA#2# #J#3 &5A A5K1#M.F#B! 3" ,"
I+IBFIB 51 3J.FIB! GH! .B ##3 #L7#11#" &A52 F,# &5115K.3+
+#3I.3# 3"."F# &5A F,# #3F#: .B
32#! ,# BMB! 2#3B ?2/#BF. I353;I#A#"
5F,#A 2#2#AB@ 5IFA+# F ,.B 15J# 5&
=B".BF.11M ".B2#2#A.3+> +5FB! B52#F,.3+
I3@ .3 F.3! 3" B##2B F5 # F0#3 &A52
I1F +.J#3 5&'.1 BFFIB M F,# 523
3J.FIB ,5F1M "#3.#": M11.# FA.#" F5 +#F ,.B
3#2#B.B F,A5K3 5IF 5& F,# .#AFA.3B F55!
27#A5A IA#1.3 .3 HD*: #A,7B
I3BIA7A.B.3+1M! F,.B .B 35F F,# 32# ,# KB IF ,.B 25F.53 KB "#&#F#"C F,# =&B.BF
.3'1FAF5A #3F 53 .J.1 KA> ," K53: 3BF#"!
+.J#3 F .AF,! IF .F .B 35K ,.B FI1 1#+1 .F KB M11.# K,5 #3"#" I7 JF.3+ ,.B
253.0#A 851 A#&IB#B F5 +.J# ,.B A#1 .AF,-
32#C 2M# .F KB #2AABB.3+1M B.11M9:
A
75B.F.53! .3 3 F 5& 7A5F#BF:
3 F#A2B 5& 3J.FIB@B FI1 751.F.1
3J.FIB .B ;I.F# 57#3 5IF ,.B F 5& +5F-
BA.'#! K,.,! ,# BMB! F550 71# &5115K.3+
7,.15B57,M! ,# .2B 5J# 11 F5 BF.A 7#571#
&A52 F,#.A 5271#3F B1I2#A: A! .3 ,.B
AF,#A .3F#3B# 7#A.5" ,# ," B7#3F K3"#A.3+ 5K3 K5A"B = "5 35F K3F M5I F5 J5F#! B5
F,A5I+, F,#
5/J# #B#AF! &BF.3+ 3" 35F! 77A#3F1M! K.F, "A.3 M11.#! &5A2#A 2I, B K3F M5I F5 K0# I7: K3F M5I F5
7AM.3+: 7.11.3+ F,# 3.21@B 155" KB 2#3F ,.A23 5& F,# .#AFA.3 AFM 5& 15A."! "A57 5IF 3" FI3# .3: K3F M5I F5 F0#
F5 # FA.IF# F5 F,# 5"B 5& F,# .1"#A3#BB! K,5 J51I1M 5/#F#" F5 F,# 3FIA# 5& 3" 7AF.B# B5A#AM: K3F M5I F5 1.BF#3 F5
3" 3 F 5& F,30B &5A ,J.3+ BIAJ.J#" ,.B 3J.FIB@B J.#KB: =,.B +IM ,B 35 71# .3 F,# A7 2IB. 3" 10 2#F1! F5 1#A3 F,# 1K
.3F#3B# B7.A.FI1 5A"#1: .B .#AFA.3 AFM!> ,# 335I3#"! 77A#3F1M 3" A#0 .F "#1.#AF#1M! F5 '3" M5IA 5K3
252#3F 2.+,F # =;I.1# .3 F,# 2.3"B 5& I3KA# 5& K,F .#AFA.3.B2 FI11M A#1.+.53: K3F M5I F5 1#A3 F,# IB# 5& 'A#A2B
25BF 2#A.3B!> B." 3J.FIB! IF! F0.3+ 2#3B: F B##2B F,F 3J.FIB .B 522.FF#" 3" BI/#F M5IAB#1J#B F5 A.+5A5IB 7,MB.1
"J3F+# 5& F,# "2.A1# 2#A.3 A.+,F &5115K#A 5& #J#AM53#@B &J5IA.F# ,#"53.BF. FA.3.3+: K3F M5I F5 FA#F M5IA 5".#B B
F5 &A##"52 5& A#1.+.53! ,# BK 35 A#B53 K,M +5F-B1M.3+ 5I1F.BF 1#.BF#A A5K1#M 3" 51M #271#B 3" F5 F0# M5IA +.A1&A.#3" F5
,# B,5I1" 35F 1##" +5F "AM .3 F,# 32# ,.B .3J#3F#" A#1.+.53 5& ,#1#2: 53#-F.2# BFA.7-1I B5 M5I 3 B#"I# "3#A .3 F,#
5& 7+3-0.3": # .B! &F#A 11! 2#2#A 5& 2#2#A 5& F,# A5K1#M-&'1.F#" 2+.01 0 A552: K3F M5I F5 K5AB,.7 FIA# 3"
F,# .#AFA.3 AFM! 3" B5 #1.#J#B .3 F,# +A5I7 A"5 #271. A.#3F.B! 3.J.FIB .B 1B5 "3# 30#" .3 F,# 25531.+,F A5I3" F,# 'A#!
53#7F 5& 3 .3".J."I1@B F5F1 1#+1 3" ;I1.'#" FF5A3#M K,5 53# &5I3"#" ,.B 5K3 BA#2.3+ .3 #BFF. /5M: K3F M5I F5 A#J51F:
25A1 IF5352M! /IBF B5 153+ B ,# .B3@F "5.3+ 1K-'A2: # ;I.F F,# 7A5&#BB.53 F5 #52# .B# #11: A#0 M5IA 1.2.FF.53B: #35I3#
3M ,A2 F5 5F,#AB 8#L#7F 1.J#BF509: F#275AAM "#B#AF-K3"#A#A 0 .3 7A.1 M5IA 1.&# 3" +5 .3F5 F,# .1"#A3#BB! B5 F,F
,F@B 3 #3F.A#1M A#B7#F1# .3F#11#FI1 HO6G! IF 35F #&5A# 20.3+ ,#"1.3#B K.F, 5" 2M B7#0 F5 M5I 5& F,.3+B F5 52#>: A!
75B.F.53! 5& 5IAB#! K,., K5I1" ,J# BF J1#".F5AM #-2.1 ""A#BB#" F5 &5A2#A .3 5F,#A K5A"B =5 B F,5I K.1F B,11 # F,#
K#11 K.F, F,# 1.0#B 5&
5,3 FIAF
.11 $ IF 511#+I#B .3 K,., ,# 11#+#"1M 1.2#" K,51# 5& F,# 1K:> 53"#A .& ,# #J#A FA.#"
DD?
III5 0<C-C(,=50,
,# # AFM@B A, 1.3
0 !
2#3K,.1#! .B
.,#1# ,233! K,5 A3 F5
# F,# #7I1.3 A#B."#3F.1 3"."F# .3
&<(=C(- 8 C C-% <+0*9 ;0--++5
(&+ &,-- I(C= C& 0- 0,(-%5 HO6H: 5K#J#A! B,# K.F,"A#K &A52 F,# A#
&F#A 20.3+ B#A.#B 5& #2AABB.3+ +&&#B
IB.3+ F,F A+I2#3F .3 3 FI1 5IAFA552< 53 F,# 27.+3-FA.1! F,# 25BF 2IB.3+ 5&
3 M1.#@B J.#K! ,5K#J#A! 3J.FIB KB .3 K,., 5IAA#" "IA.3+ ,#A J.B.F F5 F#A155!
&J5IA 35F 5& &A##"52 IF 5& &B.B2! 3" 5K! K,#A# B,# 7A5&#BB#" ,#A /5M F #.3+
.2#" F5 #+.3 B#53" .J.1 A: 3J.FIB .3 F,# ,52#-F5K3 5& F,# +A#F
5,3 M3#:
".B+A##":#B! ,# "2.FF#" ,# ," 7A#J.5IB1M F KB 531M 1F#A F,F /5IA31.BFB A#1.B#"
7A#".F#" F,F 53# "M ,# K5I1" =".B77#A F#A155 KB .3 &F F,# ,52#F5K3 5&
5,3
.3F5 F,# .1"#A3#BB 3" K.11 A#FIA3 #A.3+ M3# ! F,# .3&25IB ?.11#A 15K3@ K,5
#J51IF.53 5A K.11 35F A#FIA3 F 11!> IF A7#" 3" F,#3 0.11#" GG F##3+# 5MB 3"
"#3.#" F,F F,.B 2"# ,.2 #.F,#A ".BB."#3F M5I3+ 2#3 .3 F,# 64DOB:
5A! B M11.# 11#+#"! 3#5-N.: 3BF#"! " ,233 23+#" F5 B#.N# F,# ,.F#
A
,# B." F,F F,# +5J#A32#3F ," 5IB#! F,#3 K,F K5I1" ,#A 751..#B ,J#
"#1A#" KA 53 F,# 2#A.3 7#571#! 3" ##3<#AM 75BB.1M B,# K5I1" ,J# "#J5F#"
F,F F,#A#&5A# =# B .F.N#3B ,J# F,# A.+,F 25BF 5& ,#A #3#A+M F5KA"B ,#17.3+ A.3+
F5 B#1&-"##::: 5F#AB A# F,# 53#B F,F 5IF F,# 751M7B# IAA#3F1M BF.AA.3+ .3
B,5I1" 53FA51 F,# +5J#A32#3F! 3" 35F F,# F,#
.""1# BF: =
#BIB ,A.BF@B A#FIA3 .B
5F,#A KM A5I3":>,# KB 35K 2#A# .22.3#3F: B F,#A# 3MF,.3+ 25A# .275AF3F
FMA33M! B." 3J.FIB! 3" F,.B KB 2"# F5 F10 5IF<> B,# B0#" .3 53# 5& B#A.#B
1#A M F,# &F F,F ,# KB IAA#3F1M I3"#A 5& "##71M 1A2.3+ HO6( A".5 .3F#AJ.#KB:
BIAJ#.113# M F,# : =3# 23 3 20# ,233@B J.#KB 5IF F,# 1552.3+ 3"
".&&#A#3#!> ,# "#1A#" "#'3F1M! 1.0# FI1 K.F,:,# B3"1 BF#22#" &A52 ,#A .2#B 3" F,#.A A#1F.53 F5 &5A#.+3
1FF#A-"M
AF.3 IF,#A .3+: F0# .F ,# #A1.#A 1.&# B ,M7#A-53B#AJF.J# 2#". 751.M 77#A .353B.BF#3F! ,5K#J#A: 3
KB3@F +5.3+ &5A F,# # AFM J5F#:::
522#3FF5A! 32#1M 6444 77#A3# F,# 53# ,3"! B,# 53"#23#" A#B."#3F
53
! ,5BF#" M F,# BF.A.BF 2@B 1I0#KA2 A#1F.53B,.7 K.F, BA#1
.11
,#A: #A# @533#11! F,#3 B.11M B B52#F,.3+ F,F K5I1" 1#" F5 2#A.
A KB ,#< ,# # AFM .B BFA3+# 25"#A3 I3035K3! BK 35 ,A2 .3 "2.FF.3+ F5 F,# =A#7.3+ K,.A1K.3"> 3" #.3+ 75F#3F.11M
7,#352#353 .3 751.F.B: 5F 3 FI1 &F F,F! K,.1BF F##3+#A! B,# ," +53# 5IF 7I3.B,#" M 5" K.F, =#5352. ".BBF#AB
BF3"153# 5A+3.BF.53! .F #+3 .3 HOO4 B 53 "F# K.F, F##3+# KA150: = "1#" 3" 3FIA1 ".BBF#AB>: 3 F,# 5F,#A ,3"!
+ABB-A55FB 25J#2#3F 53 F,# A.+,F 5& F,# .3F5 K.F,A&F!> B,# B.": = 3#J#A /5.3#" 2@B BI7.3# +A##2#3F K.F, A3! K,.,
#7I1.3 AFM 11.3+ &5A 15K#A FL#B 5J#3 IF ,I3+ A5I3" 7#571# K,5 K#A# 2M K#11 115K .F F5 "#J#157 3I1#A K#753B!
3" 1#BB K#1&A# B7#3".3+! 75B.F.53B F,F "5.3+ F,#B# F,.3+B::: 3# 5& 2M 'ABF "F#B K.F, "." ,J# 53# "J3F+#C .F K5I1" ,#17
,J# +A#" A5I3" 6O 7#A #3F 5& F,# K.F, KB 53 F3. 1FA! 3" "."3@F "#BFA5M F,# K5A1" 3" 7J# F,# KM &5A
#BIB@
#1#F5AF#: 5K#J#A! F,# 25J#2#3F ,B 1B5 035K .F: 2#3! F,#A# KB 1.FF1# 155" A#FIA3: =,#B# A# 35F &#A&I1 F.2#B! F,#B#
B52#F.2#B ##3 ,AF#A.B#" B 0.3" 5& F,#A# 3" BFI&& 1.0# F,F::: # K#3F F5 25J.# A# F,# 25BF #L.F.3+ "MB .3 ,.BF5AM%> B,#
1I3F. &A.3+#! K.F, 23M 5& .FB 2#2#AB 3" F,#3 ," 1.FF1# 2."3.+,F 7.3. 53 7A51.2#": =,# A57,#FB 153+#" F5 1.J# .3
B##2.3+1M ,51".3+ #LFA#2# A#1.+.5IB J.#KB F3. 1FA:> F,.B "M F,F M5I 3" A# 7A.J.1#+#" F5 1.J#
3"! /IBF 1.0# 51 3J.FIB! BIB7#F.3+ F,F F,# F F,# F.2#! 355"M A#": 52# HO6O! BIA#1M ".# ,5AA.1M< .3:>
5J#A32#3F 2.+,F /IBF # F551 5& 577A#BB.53 ,5K#J#A! 3" K.F, F,# # AFM 35K ,#17.3+ ,233@B B. 75B.F.53 .B F,.B: 3
3" "A03#BB: &I3" ,#A 27.+3!
,#A A#A5"BF #,A., 6H! .1.1 7A57,#M 77#AB!
J#3 F,# # AFM@B 5K3 2#2#AB A#3@F @533#11@B #A1.#A 522#3FB! ,57.3+ F5 AI.3 "#1A.3+ F,F 53# "M =11 F,# 7#571# 5& F,#
B&# &A52 BIB7..53 5& #.3+ 53 F,# B."# 5& ,#A BI775AF 253+BF F,# A#1.+.5IB A.+,F: 3 AF,> K.11 =# +F,#A#" F5+#F,#A> +.3BF
#J.1! ,5K#J#A! B 3 # B##3 .3 F,# IF.53AM 3 FF#27F F "2+#-1.2.FF.53! @533#11@B BA#1! B52#F,.3+ K,., K.11 20# 5" =B##0
F1# 5& 53# 5& F,# 5A+3.BF.53@B 1#".3+ 27.+3 A#1#B#" B5&F-&5IB J."#5 F,F F5 "#BFA5M 11 F,# 3F.53B F,F 52# +.3BF
1.+,FB! ,A.BF.3# @533#11! A, 1.3 57#3#" K.F, F,# .225AF1 K5A"B = @2 35F
#AIB1#2:>,.B! BMB ,233! .B .3 &F
153# K,5B# 5AF.J# HO6O 27.+3 &5A F,# K.F,: @2 35F,.3+ M5I@J# ,#A": @2
:> A#&#A#3# F5 2@B 7##-"#1 K.F, A3!
#3F# KB "#A.1#" M 751.F.1 K.F,-,I3F A#".F1M! F,# 250#AM /IBF .3A#B#": K,., ,B ##3 0#" I7 M 5F,#A 2/5A
5& 1.F#A1 0.3" B,# KB IB#" 5& #.3+ 3 5AB#! 5F,#A 51" &55F+# 5& @533#11 K5A1" 75K#AB 53 F,# #IA.FM 5I3.1:
DD?
III5 0<C-C(,=50,
(= H(++ -0I
.3 HO6*! IF 35F #&5A# IB.3+ ,.B A#1.+.5IB =7#"#BF1! B5 ,.+,>! 27#11 .B ."#3F.'#" <0, ,<+J F+(=&(-%5
DD?
III5 0<C-C(,=50,
8,) ,-)634,%28¸7 %446)28-') 46)7)287
&9-0(-2+ %
*368)%2 0-&6%6=
THEIR HEADS DARK RED AND THEIR EYES DARK
h!AH n EVERYONE LOVES A UNICORNv TENDERLY SIGHED THE ILLUSTRIOUS EDITOR ON LEARNING BLUE 4HEY HAVE A HORN ON THE FOREHEAD
THAT THIS ENIGMATIC AND AMBIGUOUS ANIMAL WAS TO BE THE NEXT SUBJECT IN THIS SERIES )N WHICH IS ABOUT A FOOT AND A HALF ;CM=
CONTRAST THE DIMINUTIVE BEARDED AND ANCIENT ARCH
SCEPTIC AND PROFESSIONAL NUISANCE IN LENGTH 4HE DUST lLED FROM THIS HORN IS
*AMES 2ANDI SEEMS TO HAVE CONTRACTED A CHRONIC ALLERGY TO UNICORNS HE MENTIONS THEM ADMINISTERED IN A POTION AS A PROTECTION
IN THE SUBTITLE TO HIS BOOK
#(#
"#
%" &## AGAINST DEADLY DRUGS 4HE BASE OF THIS HORN
THOUGH THEY APPEAR NOWHERE ELSE IN THAT QUESTIONABLE SCREED "Y THE WAY TO READ A DROLL FOR SOME TWO HANDS
BREADTH ABOVE THE
DISASSEMBLY OF SOME OF THE QUAINT ASSERTIONS THEREIN LOOK UP HTTPMICHAELPRESCOTT BROW IS PURE WHITE THE UPPER PART IS SHARP
FREESERVERSCOMmIM
mAM
mUMMERY
A
SKEPTIHTML 2ANDI HAS ALSO SAID THAT HOMEOPATHY AND OF A VIVID CRIMSON AND THE REMAINDER
IS hA UNICORNv IE @IMPOSSIBLE AND IS REPORTEDLY FOND OF ASKING PEOPLE WHAT THEY WOULD OR MIDDLE PORTION IS BLACKx 4HE ANIMAL IS
DO IF HE CLAIMED HE KEPT A UNICORN IN HIS GARDEN n WHICH SOMEONE SAID MERELY INVITES EXCEEDINGLY SWIFT AND POWERFUL SO THAT NO
THE NATURAL RESPONSE h*UMP OVER THE WALL AND TAKE A LOOK AT ITv 7E HAVE PREVIOUSLY CREATURE NEITHER THE HORSE NOR ANY OTHER
HINTED AT OUR FONDNESS FOR UNICORNS AND REMARKED THAT THEY ARE IN OUR VIEW IN A CAN OVERTAKE ITv
CERTAIN SENSE INDEED REAL 7ELL GET BACK TO THAT POINT -EANWHILE OUR RECOMMENDED )T IS ALSO WE LEARN FROM #LAUDIUS
INDISPENSABLE VOLUME FOR THIS ISSUE THE LATE 0ROFESSOR /DELL 3HEPARDS " !ELIANUS !$n GENTLE TOWARD
% " IS AN ADMIRABLE INSTANCE OF A GENEROUS IMAGINATIVE WITTY AND DEEPLY ALL ANIMALS EXCEPT ITS OWN KIND hAND NOT
RESEARCHED APPROACH TO THE SPECIES WHICH MIGHT SERVE AS A MODEL FOR ANY INQUIRY INTO ONLY DO THE MALES lGHT NATURALLY AMONG
ANY @MYTHICAL CREATURE OR PERSON OR EVENT UNLIKE THE BOOK BY THE INEFFABLE -R 2ANDI THEMSELVES BUT ;OUTSIDE IN THE RUTTING
WHO IS INVITED TO TAKE HIS DESIGNATED SEAT FOR THE OCCASION 7E HOPE THAT NOW AND THEN SEASON= THEY CONTEND EVEN AGAINST THE
HE MAY BE EMBARRASSED ENOUGH TO TREAT US TO A NICE TWIRL OR TWO FEMALES AND PUSH THE CONTEST TO THE DEATH
4HE ANIMAL HAS GREAT STRENGTH OF BODY AND
IT IS ARMED BESIDES WITH AN UNCONQUERABLE
WORTHY OF CONSIDERATION THAN THE QUESTION HORN )T SEEKS OUT THE MOST DESERTED PLACES
s 7HEN AND WHY DO UNICORN HORNS SWEAT WHETHER WE SHALL HAVE ONE SPECIES MORE OR AND WANDERS THERE ALONEv !ELIANUS SEEMS
s 7HAT HAPPENS
%" LESS IN THE %ARTHS FAUNA !ND THE DREAM TO BE THE lRST TO MENTION THE UNICORNS
VIRGINS LAP AT ANY RATE IS AN UNQUESTIONABLE FACT A RINGED OR SPIRAL HORN WHOSE LENGTH HAS
s (OW LONG IS A UNICORNS HORN PHENOMENON OF THE MIND IT HAS GROWN GROWN BY HIS ACCOUNT TO A CUBIT AND A HALF
s 7HAT ANIMAL IS THE UNICORNS GREATEST LIKE A TREE STRIKING DEEP ROOTS IN THOUGHT ;ABOUT FT INCM= 4HIS AUGMENTATION
ENEMY AND SPREADING HUGE BOUGHS AGAINST OUR CONTINUED DOWN THE CENTURIES UNTIL
s 7HAT HAPPENED WHEN 'ENGHIS +HAN MET MENTAL SKY 4HIS BOOK ABOUT THE UNICORN IS MEDI[VAL WRITERS HAD IT UP TO FT ;M=
A UNICORN A MINUTE CONTRIBUTION TO THE STUDY OF THE OR MORE AND THEN HAD TO MAKE THE THING
s !RE THERE UNICORNS IN #HINA ONLY SUBJECT THAT DEEPLY AND PERMANENTLY FRACTIONALLY MORE PLAUSIBLE BY SAYING THAT
n THEN NOT ONLY WILL YOU BE A MAN MY CONCERNS US n HUMAN NATURE AND THE WAYS THE HORN mOPPED DOWN hLIKE A TURKEY
SON BUT YOU WONT NEED THIS BOOK OR OUR OF HUMAN THOUGHTv COCKS COMBv ACCORDING TO 2ABELAIS
SUGGESTED ESSENTIAL COMPANION VOLUME )N BROAD OUTLINE 3HEPARDS IS AN EXCEPT WHEN THE UNICORN WAS AROUSED FOR
#HRIS ,AVERSS
%&"
#%"( HISTORICAL APPROACH SEEKING THE ORIGINS
"# ,AVERS CALLS 3HEPARDS WORK OF THE UNICORN LEGEND AND BRINGING IT $URING THE SECOND CENTURY "# THE
hTHE DElNITIVE TREATISEv ON THE UNICORN IN UP TO HIS PRESENT 4HE HISTORY HE
%&
% 0TOLEMY ))S COMMISSIONED
%NGLISH AND HE SHOULD KNOW UNCOVERS HOWEVER THROWS UP SO MANY TRANSLATION OF THE lRST lVE BOOKS OF THE
QUESTIONS WHICH HE FEELS BOUND TO TRY TO (EBREW "IBLE INTO 'REEK WAS BECOMING
n INDEED 0ROF 3HEPARD COULD ANSWER THAT THIS IS SOMETHING BETTER KNOWN AND THEREIN WE lND
BE CALLED AN EARLY EXPONENT OF OF A CROOKED HIGHWAY WITH MENTIONS OF AN ANIMAL CALLED ƫƮƬyƩƤƯƷư ²
THE PSYCHOSOCIAL HYPOTHESIS MANY AN IRRESISTIBLE BYWAY ¶HORNED n LATER TRANSLATED '
,ATIN AS
h7HETHER THERE IS OR IS NOT TO EXPLORE (E STARTS WITH @UNICORN 4HIS IS A MIGHTY BEAST ADDUCED
AN ACTUAL UNICORN n AND THIS THE EARLIEST KNOWN LITERARY BY 'OD TO SHOW POOR SUFFERING *OB HOW
IS ONE OF THE QUESTIONS UPON REFERENCE TO THE UNICORN IN THE POWERLESS HE IS .OT QUITE THE DAINTILY
WHICH ) SHALL MERELY QUOTE THE SURVIVING FRAGMENT OF THE FEROCIOUS CREATURE OF LATER LEGEND 4ROUBLE
OPINIONS OF OTHERS n HE CANNOT
OF THE 'REEK PHYSICIAN WAS THE LEARNED SCRIBES OF !LEXANDRIA
POSSIBLY BE SO FASCINATING OR SO #TESIAS WRITTEN SOMETIME
IMPORTANT AS THE THINGS MEN AFTER "# AFTER HE HAD WHAT THE ORIGINAL (EBREW WORD @REEM
HAVE DREAMED AND THOUGHT AND SPENT YEARS IN 0ERSIA 4HIS MEANT AND MADE AN INTELLIGENT GUESS
WRITTEN ABOUT HIM ! DREAM SAYS IN PART h4HERE ARE IN "# WHICH LATER WAS TAKEN TO
IF IT IS NO MORE THAN THAT OF )NDIA CERTAIN WILD ASSES WHICH
SUCH GREAT AGE AND BEAUTY AS ARE AS LARGE AS HORSES AND IS LARGE AND NOTORIOUSLY GRUMPY AND LIKE
THIS OF THE UNICORN IS FAR MORE LARGER 4HEIR BODIES ARE WHITE THE UNICORN ITS HORN WAS REPUTED TO HAVE
MORE OF THE SENSE OF FAIR PLAY IN ITS PLACEv
)N OTHER WORDS THE #HRISTIANS MADE A BIT
OF A HASH OF TRYING TO BEND THE TALE TO THEIR
OWN PURPOSES AND THE ROOTS OF THE STORY
ARE MOST LIKELY FAR OLDER WILDER AND MORE
COMPLEX THAN #HRISTIANITY 7HICH SETS
3HEPARD OFF ON A WHOLE NEW HUNT
4HIS TAKES US INTO !FRICA AGAIN AND WITH
A SMILING NOD TO !TLANTIS TO THE !MERICAS
n WHERE UNIQUELY THERE SEEMS TO BE NO
NATIVE TRADITION OF THE UNICORN n THEN
ON TO THE -IDDLE AND &AR %AST IN #HINA
HE lNDS A UNICORN TRADITION REMARKABLY
PARALLEL TO OURS TO THE !RCTIC AND BACK
TO %UROPE 7E LEARN THE SOURCE OF THE
UNICORN HORNS SOLD POWDERED AS POPULAR
CURES BY APOTHECARIES AND INTACT AT VAST
EXPENSE TO KINGS AND PRINCES BY WILY
MERCHANTS (E EXPLORES THE ORIGIN OF THE
ALEXIPHARMACY n AS #HRIS ,AVERS INSISTS
ON CALLING ITS ANTIDOTAL AND PROPHYLACTIC
PROPERTIES n OF THE UNICORNS HORN ITS
MOST NOTABLE QUALITIES WERE THE ABILITY
HEALING PROPERTIES "RILLIANT LINGUISTIC TO NEUTRALISE POISONS OR DETECT THEM BY
DETECTIVE WORK IN THE MIDDLE OF THE TH SWEATING n USEFUL FOR 2ENAISSANCE NOBLES
CENTURY BY 3IR (ENRY 2AWLINSON lNALLY μ-* =39 (E lNDS EIGHT INSPIRATIONS AMONG KNOWN
NAILED THE "! DOWN )T WAS THE GIANT ANIMALS FOR THE UNICORN EIGHT TRIBUTARIES
ALBEIT TWO
HORNED AUROCH *OB MIGHT WELL '%2238 6)%( TO THE GREAT RIVER OF LEGEND THAT ENTRANCED
HAVE QUAILED "UT BY THEN A MUTATION OF
THE BIBLICAL UNICORN n THE ONE WE KNOW AS %00 =396 %UROPE UNTIL AS LATE AS THE TH CENTURY
4HE UNICORN IS REAL IN THE SAME WAY AS
A KIND OF ONE
HORNED PONY n HAD LONG SINCE
EMBEDDED ITSELF IN #HRISTIAN TRADITION
&33/7 :EUS OR !THENA OR $AMBALLA ARE 0EOPLE
BELIEVED IN THE UNICORN AND ACTED ON
3HEPARD SAYS WRYLY OF THE EARLY #HURCH
h4HE WORLD OF NATURE SELDOM VALUED FOR
*32(0) THEIR BELIEFS n AND WHY SHOULD THEY NOT
!S 3HEPARD PUTS IT h(ERE IS A CREATURE
ITS OWN SAKE BY THE TYPICAL #HRISTIAN
WAS MORE AND MORE REGARDED AS A MERE
8,)1¶ FEARFULLY AND WONDERFULLY MADE AND
ONE SO CREDIBLE OR RATHER SO PROBABLE
STOREHOUSE OF EDIFYING METAPHORS 7HAT IN APPEARANCE AS TO MAKE THE HARDIEST
WE SHOULD CALL FACTS WERE FELT TO BE OF ;MRWXSR 7 'LYVGLMPP DOUBTER FEEL THAT IF THERE IS NO SUCH
LITTLE WORTH IN COMPARISON WITH THE ANIMAL THEN AN EXCELLENT OPPORTUNITY WAS
MORAL TRUTHS THAT ALLEGED FACTS COULD BE OVERLOOKED IN THE PROCESS OF CREATION (E
SUPPOSED TO SIGNIFY AND IT WAS CONSIDERED HEAD IN HER LAP 3HE FONDLES HIM AND HE SEEMS TO lLL A GAP IN NATUREv
THAT 'OD HAD CREATED THE LOWER ANIMALS FALLS ASLEEP 4HE HUNTERS THEN APPROACH 7E HAVE JUST ROOM TO NOTE THAT #HRIS
PARTICULARLY THOSE THAT SEEMED TO HAVE NO AND CAPTURE HIM AND LEAD HIM TO THE ,AVERSS WORK IS BY NO MEANS A REHASH OF
OTHER USE SOLELY FOR THE MORAL AND SPIRITUAL PALACE OF THE KINGv 3HEPARDS IT IS A FASCINATING COMPLEMENT
INSTRUCTION OF MANKINDv 4HUS AROSE THE 3HEPARD SPENDS MANY HAPPY PAGES TO IT (E CRITICISES AND RElNES SOME OF
MEDI[VAL BESTIARIES WHOSE TAKING THE BONES OUT OF THIS 3HEPARDS IDEAS AND GOES INTO GREATER
(#&# ACCOUNT AND IS SUITABLY SNIFFY DETAIL ON MANY ASPECTS OF THE LEGEND ADDS
COMPILED SOMEWHERE BETWEEN ABOUT THE hDETESTABLE ROLEv OF ANOTHER ANIMAL TO THE UNICORNS LIKELY
THE SECOND AND FOURTH THE VIRGIN IN THIS PARTICULARLY ANCESTRY AND IS RIVETING ON LATTER
DAY HUNTS
CENTURIES !$ AND TRANSLATED WHEN THE MEDI[VAL #HURCH HAD FOR A LIVING UNICORN (E IS PARTICULARLY
INTO ,ATIN IN ABOUT DECIDED THAT THE VIRGIN STOOD FOR GOOD ON THE SPECTACULAR TENACITY OF 3IR
WHEREAFTER IT WENT VIRAL AS WE WHO ELSE THE 6IRGIN -ARY AND (ARRY *OHNSTON PAINTER DIPLOMAT EMPIRE
MIGHT SAY ACROSS %UROPE AND THE UNICORN FOR *ESUS 9ET ODDER EXPANDER AND DEVOTEE OF THE UNICORN FOR
WELL BEYOND IN THIS REGARD ARE VERSIONS OF WHOM THE WORD @INTREPID MIGHT HAVE BEEN
!MONG THE LESSONS
COINED 4RULY THERE WERE MEN IN THOSE DAYS
(#&# IS ATTRACTED BY THE FRAGRANCE "UT FOR WHAT HAPPENED TO 'HENGIS +HAN
SUCH RECOGNISABLE ANIMALS THAT IS APPARENTLY PECULIAR YOU HAVE TO READ 3HEPARD
AS THE LION PELICAN FOX AND TO VIRGINS 4HE MAIDEN THEN
HEDGEHOG THERE ARE OTHERS IF SHE IS NOT ALREADY NAKED
EXPOSES HER BREASTS FOR THE
THE PH\NIX THE ANT
LION % UNICORN TO STIMULATE WITH HIS LIPS WHILE /DELL 3HEPARD " % "
KNOW TODAY SIRENS THE SAME MURDEROUS SHE HERSELF FONDLES HIM ELSEWHERE -ADE (OUGHTON -IFmIN "OSTON 'EORGE !LLEN
TEMPTRESSES FEATURED IN THE (##( DOCILE BY THESE INTIMACIES THE ANIMAL IS 5NWIN ,ONDON REPRINTED BY !VENEL
AND OF COURSE THE UNICORN 3HEPARD THEN SLAUGHTERED BY LURKING HUNTERS IE "OOKS .EW 9ORK !LSO AVAILABLE AS A
SUMMARISES h(E IS A SMALL ANIMAL LIKE SACRIlCED OR MARTYRED SOMEWHAT LIKE FREE DOWNLOAD 0$& FROM WWWGLOBALGREY
A KID BUT SURPRISINGLY lERCE FOR HIS SIZE THE .AZARENE !S 3HEPARD REMARKS hTHE COUK BUT CHEAPSKATES BEWARE THE TEXT
WITH ONE VERY SHARP HORN ON HIS HEAD AND #HRISTIAN INTERPRETATION PUT UPON ;THE NEITHER REPRODUCES NOR TRANSLITERATES
NO HUNTER IS ABLE TO CATCH HIM BY FORCE 9ET VIRGIN
CAPTURE STORY= SEEMS TO WRENCH IT 'REEK TERMS AND QUOTATIONS AND OMITS
THERE IS A TRICK BY WHICH HE IS TAKEN -EN OUT OF ITS NATURAL COURSE OF DEVELOPMENTv 3HEPARDS COPIOUS NOTES AND ILLUSTRATIONS
LEAD A VIRGIN TO THE PLACE WHERE HE MOST ADDING DEADPAN h/NE FEELS THAT SOME OF
RESORTS AND LEAVE HER THERE ALONE !S SOON THE SUPERNAL CHARM OF CHASTITY MIGHT BE #HRIS ,AVERS
%&"
#%"(
AS HE SEES THIS VIRGIN HE RUNS AND LAYS HIS DISPENSED WITH IF WE COULD HAVE A LITTLE "# 'RANTA ,ONDON
2-3>8
-2 > /
!&'"
1"<A3;< 1! A*",; *"/5";<
&" !
!)
" $ $ $
!
$ $
!$ $ !
'$ $$ "$$
$' $ "%!
$%!
$%!
!
"
1A<A, /1"A<
/D)+,1 5/H
%,*,! #%,* E B8TT )34E
K7 E## #(7D# R7N "0#C< 5" (D74
3;,!!"1 31"< K.K 9#DE9#K0O#! D7"0#CE "75# 5
1! 3<A "40D3# 17 05 K.0E P#33/PD0KK#5
5" #5--05- 772< 7D 5#7(5E!
!$$%! " $ % ! 31A,1"1A< 0KCE 5 #Q#33#5K EKDK05- 93#<
%$!%$%!
! " $ $!" *" 4II ;"A"<A ,"1"+,A,31
,/0<
7D 73"#D (5E! 0KCE 05K#D#EK05-
K7 E## 73" (O7ND0K#E 05 75K#QK
%! -05EK 5#P#D 47O0#E< %,*,!
K.D7N-. *, .,.)* 4R 05K#D#EK & *':01'6= ,! <1 011 8>-# #%,* 0E P#374# ""0K075 K7
K.# 47D# -#5#D3 D#"#D<
ND9.R $$ .. '((91 58>/++ +2 >8+827+-+8 5R 7D )34 N((E 772E.#3(<
@4#622
#Q937D#E .7P 9DK0N3D (7D4E 7(
! !!
N03"05-! EN. E -#7"#E0 "74#E! E9#5K 4N. 7( 4R
KD5E(#DD#" (D74 K.# P7D3" 7( K.# "73#E#5# #5-D7EE#"
#Q97 05K7 K.# 7N5K#D/N3KND#! 05 772E 7NK .7DD7D
3#"05- K7 93#E 302# D79 0KR< 5" 47O0#E< 74#E
#
# 3772E K K.# D0E# 7( (D74 35 D52! "
K.# 973R9K0
3K.NE05 . 5" 7DD04#D N30K075E *" G&3;!
9#DE9#K0O# P0K.05 K.# P#D# ENDD7-K#E (7D K.# )34E< 3051,31 A3 ,;H
<A DAD;"< #5O0D754#5K3 47O#4#5K K.K 5 K.7E# 9D#/ "RE! ." K7
E9D#" 05K7 P0"#D P7D3"O0#PE! E D#3R 75 D#/DN5E 75 K N5E703 /"<
AD;" P#33 E K7N.05- 75 K.# 05+N#5# .7NDE! K.# 7D K.# 3<
!
<!,0 *':01'6= 011 8>-#
"*13/3)H 1! 7( .D0E4K0 05"0O0"N3E! 5"
97EE03# N3KE! P0K. K.# (03ND# 7(
7"R! 0KCE EK033 NE#(N3 K7 .O#
-N0"# K7 K.# ,)) !%&%!, 7(
28>.. '((91 57#/>> +2 >-++3 + 8
A*" 1! 3& 07E9.#D#M<
ND9.R 3E7 #Q937D#E )34E< %,*,! #%,* &)!%
@B46'I
;*,A"AD;" K.# 05+N#5# 7( E0#5# )K075 &%* % &*, &%,!%%,* .0E "#E#DO#E 93#
%! % & 75 D.0K#KND# :(7D #Q493# K.# 4##KE K.0E 5##" "40D3R< 7 75 K.# E.#3( 7( #O#DR
01, 8>-3
P3205- 0KR! DK0 0K0#E 5" 9D9.DE# #5 #570! 0K .#39E 37O#D 7( (5KER! 5#QK
8$>.. 58>/>> '((91 ' '* +2 -2 -3 +2#8
E9# 73750#E;< # 3E7 K#E#E P0K. K.7E# )DEK EK#9E 05K7 3D-#D K7 K.# MTTT 0&)
@4#6II 9DK K.# NE# 7( K.0E E D0K0>N#! P7D3"< &$(%!&% ,& !)1
PR K7 49 (03ND# R D0K0E D7"# "#)5#E E @(5KER #*<<< 7.! .5- 75 & 0KCE K.# E4#
5 *, .,.)*! 7N-3E
ND9.R EN. E 7#DK N-.#E< = K#.5737-RA< 7! #&"/&)" 772< 74# #5KD0#E .O# ##5
#Q937D#E K.# D73# 7( 47"#D50EK .#D#
ND9.RCE "0ENEE075 0E )% 5" )2!#! (7D #Q493#! N9"K#"! 5"
D05 D5#DCE
D.0K#KND# 05 K.# 40"/ K7 3K#/ K 0KE 47EK (7DK#5 0E 05 D#3K075 D#5CK 05 K.# K79 8TT #NE# P7D2 75 K.# )!%
! ,* 0E "N3R
MTK. #5KNDR 5" ENE#>N#5K K7 "74055K 5DDK0O#E< .# K.#R @"7 57K 053N"# 5R E9#0) D#"0K#"< K.#DE .O#5CK #DDR
D#K075E -05EK 0K< .0E 0E 5 5DDK0O# D7N5" 47"#D50EK D#(#D#5# K7 E0#5#A< 7D #. 7( DK.#KK .E -7K 57 (NDK.#D K.5
DK0N3K# 5" #EE03# 772! D.0K#KND# & 93N-/05 N03"05-E! K.# 8TT )34E! D7"# 30EKE D#"0KE! &, )<
P0K. (7DK#5 K.#4#E P7O#5 (7D #Q493# & PE +N0" N5K03 EK! 47EK 4#47D3# 305#!
7EK K.# #5KD0#E D# (7D PD0K#DE
K.D7N-.< .05-# 474#5KE D7N5" 9DK0N3D 2-D7N5"! KD0O0 5" E7 75< 5" 7K.#D 9#793#! K.7N-. K.#D#
ND9.R 3772E K K.# D73# "0EEK#DE 5" (03ND#E! 5" 753R 7D K.# D#7D"! D7"# 9NKE D# 95#3E 75 5K0753 (0DRK3#
7( #Q97E 5" P7D3" (0DE 05 #4# )Q#" 3K#D< .# "#K# ,)&(&#!* )DEK! -33' ( KD"0K075E 5" K.# 7E0753 57"
9D#E#5K05- E90DK0753 (NKND#E< PE 4N. 47D# 79#5 N5K03 P#33 1**1 E#75"! 1 , ), K7 K.# 4#"0< 3( K.# #5KD0#E D#
O#5KE EN. E Q97 HG 05 05K7 K.# 86GTE! (7337P05- #O#5KE ,&& ,!## K.0D"! 5" K.# 7D0-053 (7D NK.7DE (D74 K.# MTK. #5KNDR!
N## 9D#E#5K#" D.0K#KEC 302# K.# N44#D35" 0D#F ,) )* KD037-R (7NDK.< 5" K.0D" (D74 K.# 86K.! 5" K.# D#EK
O0E075E 7( (NKND# K7 P0"#D .7P#O#D! 0K 0E 57P 7(K#5 9#D#0O#" K.#D#CE K.# DN< NK KP7 )34 D# #D30#D! -705- 2 K7
D0# "#
N"0#5#< .# (0DE P#D# 4EE K.K (03ND# PE K.# 753R 7NK74#< N((E 05 D774 5" R7NC33 -#K K D5#! 88HT&8M8*< E R7N 40-.K
#5K#DK054#5K KK#5"#" R 3D-# .#D# "7#E E##4 K7 # D#/ 3#EK (7ND :9D73R 45R 47D#; 04-05# (D74 9D7"NK075 K#4
5N4#DE 7( O0E0K7DE< # "#K#E #4#D-#5# 7( E74# 0"#E! EN. E O#DE075E 7( K.# K79 8TT 47O0#E< 7( H6 9D7(#EE7DE 5" KP7 NK.7DE!
.7P K.# D0E# 7( 4N3K04#"0 D.0-D4CE 3N- 5 0KR! D##5K3R # D#-D"E .% 5" &##)## K.# &$(%!&% 0E EKD75-#EK 75
47O#" 9#793#CE KK#5K075 PR D#(#DD#" K7 05 5 D5 .052 & P.0. 257P D# +P#"! NK N5D#"3# 772E< K .E DK#D
(D74 K.# #Q9#D0#5K03 5KND# 7( 52 #Q.00K075! 5" 0K P7N3" .O# P.0. EK033 #517R 5" D#-D" E 5" # N05 5" N3345! NK
9.RE03 D.0K#KND# K7 K.# +K ##5 05K#D#EK05- K7 D#"
ND9.RCE BN305- N5"#DC 4R K79 8TT & E 0KE D#3 EKD#5-K.E 30# 05 4057D
D.0K#KND# 7( P.K #4# K2# 75 K.0E 5#P -#5#DK075 7( @.0-.3R 40K07NE )34E K.K 0K7D05 30K#DKND#! 7END#
R#DE9#< D.0K#KND#< .K E0"#! K.0E 0E 9D740E#" 4N. 5" "#30O#D#" #K.50 NK.7DE 5" 7493#5K
ND9.R 0E O#DR -77" K 5N5#" EKN"R P.#D#
ND9.R 503A< #K (##3 K.# E4# 7NK 3#(K0EK D0K0>N#E K.# #"0K7D03
"#ED005- K.# D0E# 05 47"#D50EK #74#E 302# K.# 5DDK7D 05 -33' : 257P 0KCE 4057D0KR O0#P; 7D" D#" K.#4 E7 R7N "75CK .O#
D.0K#KND#< D74 7ND 97E0K075 03304 0E75CE )%*" 5" K.# %,&$ % :D52#" K7< .#D# D# +E.#E 7( .N47ND<
P0K.05 K.# M8EK #5KNDR! 0KCE #ER &%,!%..$! 3#"05- NE D7N5" %6 375-E0"# K.# D#EK 7( K.# .# 05.0K5KE 7( S! R7N P033 #
K7 (7D-#K K.K D.0K#KE EN. O0E075DR (NKND# K.K 5#O#D 9D#>N#3 KD037-R;< C4 P0K. (CE -3" K7 257P! @E.7P 57 KD# 7(
E N2405EK#D N33#D P#D# D#.#" 0KE (N33 97K#5K03< 0-.3R 04 0E3#R 75 K.# %,&$ 3EE/75E07NE5#EEA! P.03# #!
KK#49K05- K7 "0O7D# D.0K#KND# D#744#5"#"< %<
7D# K.5 8* R#DE 3K#D! !% &%)#% 9D#E#5KE @E707/
(D74 K.K 7( K.# 86K. #5KNDR! $&
" C4 EK033 57K 7O#D 0K< 9730K03 D0K00E4 7( (D-4#5K#"
P.0. E74# EP E .O05- 3#" K7 0EKE 5" D5205-E D# 7ND-#70E E70#KRA< 3E! K.#D#
K.# "#OEKK05- 75+0K 7( K.# )DEK
>N#EK075 7( KEK#! N3KND# 5" 0E 57 #5KDR (7D &#!,!##1 &)),
.3( 7( K.# MTK. #5KNDR< D0K#D0< #NE# 7( K.0E 05.#D#5K ,!$ ,&)!*<
7DK#5 K.#4#E DN5505-
# EN1#K0O0KR! 9D#(#D K7 D#-D" .# 5#K 0E EK P0"# 0#30NE
>I
>4
04
DDE 05 3#KND#E K7 9D747K# (5KEK0 304E P0K. "#K03#" (K#DP7D" "DPE 75 .0E 57K#E 7( E#P 5" D#" P0K. .#D #R#E E.NK!
.0E 5#P 772 &(.#,!&% &%,)&# (77K57K#E E7 .0E D#"#DE 5 375- 86%H 75O#DEK075 P0K. 3307K< 5" K7 9D79.#ER K7 E74# #QK#5K<
&/ &)(&), /%)* )
!##!% "#0"# (7D K.#4E#3O#E< .# 5#"7K#E 375# D# P7DK. -05EK 2"D79 7( K.# D0E# 7(
*! .0E D03305K3R 9D570" # 9RE 9DK0N3D KK#5K075 K7 K.# #5KD5# 9D0#< 3307KKCE 90D0KN30E4!
733R PE D#-D"#"
5" #Q.NEK0O#3R D#E#D.#" P.K .# 33E K.# R5"0K#< -D#K/N53# E472#" .04E#3( 3733R E E05K! 5" K.7NE5"E
9D9730K03 372NEK#D< # 304E & EK5"05- (7D K7 "#K. (K#D #KK05- K.K .# O0E0K#" .#D< #9K0E D-N#"
.# (7D4#D 17ND530EK .E N5E! 03 5" DN-E & D# K.# 7N3" E472# .0E 7P5 .#0-.K 05 P.#K.#D
733R PE 5 .REK#D0!
PD0KK#5 #EKE#3305- 772E 5" 0- K.D## 05"NEKD0#E 05 K.# P7D3" .#D77KE #O#DR "R (7D K.D## ." 4N3K093# 9#DE7530K0#E 7D PE
DK03#E 75 3K#D5K0O# EN1#KE K7"R< 7D
DDE! K.# #90"#40 475K.E< (#337P E9R PE @D#O7D (DN"< .# "0#" #(7D# "7K7DE
D5-05- (D74 -7O#D54#5K 7( 4EE E.77K05-E K.K .E ##5 03E75! P.7 ." (7D4#D3R ##5 7N3" 05O#EK0-K# .#D 304 57K K7
75E90D0#E K7 E 5" 30#5E! EP##905- K.# 50K#" KK#E E05# 9ND.E#D 7( E2N52 #QD#4#5K .O# #K#5 (7D 8, R#DE<
6I88! K#3#9K.R 5" E#D#K K.# 73N405# 0-. .773 05 REE050A< .#5 K.# .#" #D#! EK##3 5" .0E 9N30E.#D
E70#K0#E< 0E )DEK 772! )&**)
EED# 05 8666 0E "N# 57K K7 K.# 7( D0O3 05K#330-#5# -#5R .O# "75# -D#K E#DO0# 05
:EN/K0K3#" B.# 37K .K 033#" E#75" 4#5"4#5K 7( 4#D0CE #5K#D#" K.# D2 7K#3 33D774 D#EN05- 5" D#9D05K05- 5
#55#"RC;! PE E7ND# (7D 30O#D 75EK0KNK075! P.0. -ND5K##E 05 PDK04# EK5N3! K.# 5" 575R47NE & K 3#EK K.# NK.7DCE
K75#CE )34
< 4#D05E K.# D0-.K K7 @2##9 P7N3" EKD02# N9 B77! 77! R! 54# 7N3" 57K # (7N5" &
5 .0E 5#P 772!
DDE K2#E 5" #D D4EA! NK 05EK#" C4 9RC @.# K.05-E 257P 07-D9.R 7(
733R P0K. 5
#O#5 K.# 47EK E#9K03 D#"#DE ER49K74 7( K.# 0DD#E975E03# P7N3" 42# R7N EK--#D! I C4 K#5 5K.737-R 7( 7N5KE R O0E0K7DE!
K.D7N-. ML .9K#DE #Q930505- 9D#ED09K075 7( 5K0"#9D#EE5KE 9#D #5K 372 5" 505#KR 9#D #5K E74# (47NE 05 K.#0D "R< EK##3
P.R 0K 0E5CK DSR K7 # 9D570" 5" 7K.#D 405"/3K#D05- "DN-E K7 "--#DA< D.4 D##5# :
H .E ""#" DK03#E 75 E0403D
7NK K9 PK#D 7D "0#K )SSR .03"D#5 5" R7N5- "N3KE 05 K.# -#5K "ND05- ; "0E7O#D#" E#E 7( B(EK05- -0D3ECF K.# 9ER.0
"D052E< .# )DEK! 74057NE3R 50K#" KK#E< 7"# 372 (7D B#N5N.C< # )533R 905K05-E 7( K.# 5-E 0EK#DEF
33#" B#979N3K075C! "#K03E K.#
DDECE 75E90DK7D03 NE#" 0K P.#5 N53# K7 KK#5" BK3205-C EK7O#! #( K.#
75-77E#
0SDD# #7D-0 N0"#EK75#E! P7D3"O0#P 0E 99D#5K 05 .0E 4##K05- .# E0-533#" 2 @02# 5" K.# (#E K #34#SF 5"
475N4#5K 4"# (D74 E0Q -D50K# PD0K05-< # 0E 57K @7050"#5# K.# #N5N. 5CK 74#A< 3307KK EK0-4K! 4N3K093# 9#DE7530KR 5"
E3E 05ED0#" P0K. #0-.K 47"#D5 K.#7D0EKA! E .# 33E E#9K0E K772 N9 "7PE05- 5" P5K#"
H 97EE#EE075 E#E< 7-#K.#D! EK##3
5" (7ND 50#5K 35-N-# ED09KE! 7( 75E90DR K.#7D0#E 05 .0E K7 EN997DK .0E 935 K7 D#7O#D S0 5" #23#R D-N# K.K
733RCE
053N"05- R37505! 3EE03 3#KND#E< 0E D#"#DE D# 3#(K K7 KD#END# ND0#" 05 K.# -D7N5"E 7( 0335#EE 5" EKDOK075! P.K#O#D
D##2! 5E2D0K 5" -R9K05 "#0"# (7D K.#4E#3O#E P.#K.#D 745 475EK#DR< .#5 .03R 0KE 7D0-05! PE 5 #Q9D#EE075 7(
.0#D7-3R9.E< 7D97DK# EKN90"0KR 0E "N# K7 "0#"! 3307K EN--#EK#" K.K .# # (#43# #4509K075F E#N3D
.03# E74# 7( K.# 8T E0493# .N45 -D##"! 7D 9DK 7( -0O#5
F .# P7N3" PD0K# 5 (7D4 7( E0403D 9D0OK075E
-N0"#305#E E7N5" D#E753#! 75E90DR K7 N33 K.# -373 70KNDR 57K# ER05- 753R @
R #5"ND#" R (#43# E05KE EN. E
:@O70" 9#KKR 3PE 5" NE#3#EE 979N3K075< 309E .O# .0K.#DK7 ##5 E#3#" NK K.#D05# 7( 0#5<
7()03EA;! K.# K79 75# &
!
" 5 57P D#O#3 K.K .03R PE
!
@
05K05 .N450KR N5"#D 75# 7( K.# DO#EK 4#5 .O# #O#D
*TT!TTT!TTT 05 9#D9#KN3 35#
257P5A! K.#D#R EN--#EK05- K.K
P0K. 5KND#A & 0E 3D405-< .K .03R ." P7D2#" (7D K.# D0K0E.
7NK K.# D#EK 7( K.# 7O#D E#O#5
$ # 33 375-< "3R! K.# 5#P/EKR3#
H
2
>C
##) ## @ !/I3 !K5/,1@ @,1! H1!@,/L !EJ!!1 !,1) *H03?3H@ @*3J,1) E*! !I!/350!1E 3$
!!>@ E,0! 0),/ )?3H5@ *I! 1 !,1) $H1E,31/ ?!$!?!1!
!@353E0,1 @E?3/3)L @,
$ +0 & 0 ! 01L $/@! /,0@ $3? E*!,? I3/H0!8 *,@ 31! ,1*,E@ E*! E3 ! E*! !?/,!@E !I, !1! 3$
* !! ,$ ( "
% %& % ?,EH/@ @! H531 13*,1 0, /! )?3H1 30$3?E/L !,1) @L@E!0E, =@,!1!> J*,* L E*!
1)!/, @L03/@8 J!//+J?,EE!1 1 !/!E, ,1 ,E@ E,0! 3$ E*! %?@E L1@EL @ L/31
?3/,% .13J/! )!/! 1 /!? !?! !/I3 /,0@ E*E $E!? @3H?!@ 6),I!1 E E*! .7 HE 642NN#4CNN 7 * @5J1!
300H1,E3? E*! H,9H,E3H@ 01L L!?@ 3$ *,@ 3J1 0),/ E*!?! ,@ 13 E!//,1) J*,* $E3, 3//!)! 3$ 5?,!@E/L @5!,/,@E@ E3
,. ! $!?1 5,/3E@ E*,@ H@!$H/ 1 @5,?,EH/ ?!@!?* *! *@ 0! $?30 J*!?! 6H1/!@@ L3H * ,1E!?5?!E E*! 03I!0!1E@ 3$ 5/1!E@
!1L/35 , 3$ 03@E 3$ E*! 305/!E! E*! @L@E!0 /!$E H1%1+ E*! @3H?!@ L3H?@!/$ ,1 J*,* 1 @E?@ @ !/!@E,/ 30!1@8
.13J1 ?L5E, 5?,0E!@8 I!? GNN ,@*! L !! 1 !//!L @L@E!0 @! J*L J3H/ L3H J1E E*,@ ,)!1E 5?!@!1E@ !E,/! 1
!1E?,!@ 01L ,//H@E?E! !/ J,E* *! //@ =3J!?
),>8 33.:78 J!//+?)H! *,@E3?L 3$ *3J 03 !?1
E*! .!L 3H0!1E?L 1 ?!E @ 5?!@!1E E3 L3H1) @E?3/3)L * ,E@ ?33E@ ,1 E*! L+
5*L@,/ !I, !1! $?30 *,@E3?,/ #+ 5!?@31 E3 ,1E?3 H! E*! ?,* /31,1 1 @@L?,1 !05,?!@ 1
1 31E!053??L @3H?!@ #
I?,!EL 3$ !1E,E,!@ ,1 /3?! 1 *3J 3I!? E,0! ,E@ $3H@ @*,$E!
,1/H ,1) E*! ,053?E1E @,)*E,1)@ , ,$ +0 /!)!1 3? E3 .!!5 ,1 E*! /,EE/! $?30 E*! .,1) 1 @EE! E3 E*! $E!
1 !13H1E!?@A E*! *H1E!?@ *&!! ( "
% 0& ?330 $3? ?3J@,1)8 3$ =!I!?L01>8 1 E*! JL E*,@
,1I!@E,)E3?@ 1 ?!@!?*!?@A =@,!1!> ,05?!)1E! J,E* L/3+
1 E*!3?,!@ 3HE J*E E*!L ?! *,@ 1E*3/3)L 3$ 4" =@*3?E #&)& # "# " 1,1 3@03/3)L 0! E3 /3?!1!
1 *3J E*!L 0,)*E *I! @H?I,I! @E3?,!@> L 3@E!? 61 !0,
" I, )L5E 1 5/L! @,)1,%1E
1 !I3/I! # $?30 // E*! 1 13I!/,@E7 !/,1) J,E* ?1)! -/ #- +0 ?3/! ,1 E*! ?E@ 1 @,!1! 3$ E*!
3H1E?,!@ 1 H/EH?!@ ,1 J*,* 3$ ,$$!?!1E EL5!@ 3$ @H5!?1EH?/ **0!! )$ ,$ "
%0%*% *& !1,@@1!8
*,?L 01+/,.! ?!EH?!@ *I! !K5!?,!1!@ $?30 *H1E,1) 1 *,@ ,@ ?!I,@! ! ,E,31 3$ E*!
!!1 @,)*E! 3? ,0),1! 8 !K5!?,!1!@ 3$ !I,/ 3,1,+ 031) E*! 0!?,1 5?!@, !1E@ 422( ! ,E,318
*!?! *I! !!1 @,0,/? !1!@ 1 /H. E3 31',E J,E* ,13/1 ,@ E*! 03@E *H1E! 8 @
305!1 , ,1 E*! 5@E HE E*,@ )L5@L 0),8 !/M!? @!E@ 3HE 13E 31/L , ,1+
%#$# & )-
31! ,@ 1) H5+E3+ E!8 !J30+ @ ,1E?,)H,1) @ E*!@! ;E?H! 3/1 @H$$!? $?30 03?, ?!0@
!?@ E3 E*,@ 305/!K E35, J3H/ 3 @E3?,!@< ?! E*!L ?! H@!/!@@ E3 HE *! 1 *,@ J,$! * 1 ,1E!?+
!
J!// E3 @E?E *!?!8 $3?E!1@ @ E*!L /. 6 !/,!?+ !@E ,1 @5,?,EH/,@0 //!)! /L !I!1 #/ ,$ +0
E!/L7 @3H?!@ 3? 3E*!? , !1E,%+ @.,1) 0! ,H0@ E3 *11!/ E*! +!! ,$ ( "
% &*+
"#" " E,318 1 1 ,1E!?I,!J !/@!J*!?! 3H1 ,1) E*!?@ $3? I,!8
% #% & 3@E!? !K5/,1@ ;*! ,05!EH@ E3 E*E E*! 01L @,)*E,1)@ 3$ E*! 1 ?!@531@! E3 E*! !L 1 3I!?+
! !*,1 E*!@! @*3?E @E3?,!@ J@ )*3@E@ 3$ ,13/1 1 *,@ @@@+ ?3J ,1) 3$ !@E/,@*! !0!E!?,!@
$)/ $ +0 E*!,? E?HE* E*!L *55!1! E3 @,1 ,1 E*! ! !@ @,1! E*!,? ,1 ? $3? 1!J 31! J@ 30+
!! ,$ &"
% &+0*0 ?!/ 5!35/! 88 *!@! $E@ ?! !E*@8 0,@@,31! ,1 4"(2 1 !I!1EH//L
!,E*!? )/!1! $?30 1!J@55!? !M/!? *@ @3H?! E*! *,@E3?,+ 35!1! ,1 4"&(8
1 E*! 4CE* !1EH?L ?)H/L ?!53?E@ 3/ %/!@ ,1 ,I, H/@> / ?!3? @ J!// @ E*! ?*,I!@ *! 1!J 1 !?/,$$ !0!E!?L
31! 3$ E*! $3?!03@E /,M!E*1 3H1E@ 3? $?30 ,?!E 5!?@31/ 3$ 1!J@55!?@ 1 @5,?,EH/,@E J@ ?!$H//L !@,)1! 5/,1)
@*3/?@ ?
3*1 !! 1 *,@ !K5!?,!1!8 E *@ E3 ! 0 ! @3,!E,!@ E3 '!@* 3HE E*,@ !!?,! 31$3?0,@E H?,/@ ,1 31@!?E!
305/,! J? !//!L # E*! /!? 3$ 3H?@! E*E E*!?! ,@ 13 311!E,31 J,E* /3E@ 3$ 1!J E8 )?3H1 31 ,E@ J!@E @, ! @!5?E!
@E!?!3EL5,/ J,M? @ 3$ E*!,? JL 3$ E?,1) E*! *?E!?@8 E @!!0@ E*! 5?!@, !1E 1 33E* $?30 31+31$3?0,@E H?,/@ ,1
L # 31I,1! ?3L/ 3H?E@ 1 *!@! *I! 3E*!? 10!@ 1 *,@ .,//!? J!?!
$1@ H131@!?E! 5/3E@ 31 ,E@ @0//!?
,1E!//!EH/@ E*E 1)!/@ 30+ .)?3H1 @ HE E*! @!9H!1!@ 1 !* * @30! 3,1)@ J,E* !@E!?1 @, !8
0H1,E! J,E* *,0 I, E*! 3$ E*! @E3?,!@ 1 E*! !I!1E@ E*! 5/L $!J L@ !$3?! E*!,? I!? E,0! E*! J*3/! !0!E!?L
=@?L,1)> E?1!@ 3$ !//!L 1 ,1 ?!3? ! ,1 E*!0 *I! EH//L $E/ !13H1E!? 33E* 5/L! E*! !0! 5?,0! !K05/! 3$
E*! @L03/, ;/1)H)! 3$ E.!1 5/! ,1 ?!/ /,$! 3I!? E*! H?@! .,1) J*,/! ,E J@ ,13/1>@ ,E3?,1 @EL/! J,E* 031H0!1E@
?!E,31< *! //! ;13*,1<8 /@E 4NN L!?@8< $I3H?,E! ?! ,1) 31 *,@ /@E ?1),1) $?30 E*! 5/,1 E3 E*!
*,/! !//!L * @* L 5@E -3H?1!L $?30 ,*031 E3 @*+ )?1 /L ?39H! E30@ 3$ E*! ?,*
!! J@ ?!@5!E! @ /! ,1) + )# !#"& ,1)E318 E*! $03H@ 1 13,/,EL8 *!?! ,@
0E*!0E,,1 @E?3130!? 1 %& " " & " 13E*,1) 5?E,H/?/L $3?E!1 3HE
@E?3/3)!? J*3 @5!,/,@! ,1 )% +,%&, $%)& &)%# #- " "") E*,@ 3? E*,@ 33. !K!5E E*E ,E ,@
3H/E 5*,/3@35*L 1 /*!0L8
&#$#)! I!?L J!//+ !@,)1! 1 ,//H@E?E!
! * 31! 3$ E*! /?)!@E 5?,IE!
#
)#) #$$ +0
603@E/L ,1 3/3H?7 !/!?E,31 3$
/,??,!@ ,1 1)/1 1 *0+ **!! )$ . "
% %%*+&
# +0 5!?,3 1!?353/,@ 305/!E! J,E*
5,31! )/3/ !K5/3?E,31 1 +!! )$ "00
% *++ 0 *,@E3?L 3$ ,E@ ?!/E,31@*,5 E3 E*,@
5!?$!E,1) 0!E*3 @ 3$ 1I,)E,318 1 ?!!1E L!?@ J! *I! @!!1 3?.@*,?! ,EL 1 1 3H1E 3$
$E!? ! !@ 3$ ?!@!?* ,1E3 5?3/,$!?E,31 3$ @3+//! =%!/ 1! 3$ E*! 03@E !K,E,1) ,@3I!?+ @30! 3$ ,E@ ,1H0!1E@8
13*,1 E*! 300H1,E,31@ )H, !@> E3 I?,3H@ EL5!@ 3$ ,!@ !KIE! $?30 E*! @@L?,1 1 !K!//!1E !K05/! 3$ *3J E3
!@! J,E*3HE !! ?!!,I,1) E*! ?L5E3M33/3),/ 3? 0LE*,/ !1E,+ .,1) @*H?1,5/>@ ?3L/ /,??L E 0.! /3/ *,@E3?L I!?//L 1
305/!E! ,1@E?HE,31@ $3? ,E@ H@!8 E,!@ 1 @30! 3$ E*!@! @,E ?E*!? ,1!I!* J!?! /HE* 3$ E/!E@ I,@H//L ,1E!?!@E,1)8
FFB '*
JJJ8$3?E!1E,0!@830
!'("
"
-(<
/1+(- (< /"B- <;( <
B& "(;<B ",+ ;/* <B;4 &-
<& ( ";/, &;/(- /F;/<
/- $ B/; 0.>K )E<B 0? I<
"B;
(,( -;(H (B <&/* B&
G/;+ - <-B &; /;(-% +%(/-<
/" "-< (-B/ ,/E;-(-%4 < G++ <
+F(-% &(- - (-+(+ ,;*
/- B& ,E<(+ +-<1
/1+(-:<
E-B(,+I ,(< %E;-B &;
-B;I (-B/ B& "+ D> +E +/-%
G(B& B& "/;,-B(/- -;(H
;(-
/-< - +- (+</-4&I
G/E+ <//- )/(- I B& +(*<
$ %%!# /E<+I B&(< (- (B<+" /< -/B ,*
"/; - H(B(-% "(+, - </ BG/
;(B;'(;B/; B1&- (-'
%+B/- ,*< (B ;I<B+'+; &/G
/"
(,
/;;(</- E;B /(-
- ,/; ;-B+I ,I (-'
#. 3*!& #& $3(& 48)
& .$/ .(% )4 .5.7 -B%/-(<B< ; (-B;/E BE;-' G"E+ +(" /- B&(< +F+ G/E+ BE' &/E< G&/ (-(-B++I ;%E+;+I
(-% E1 /EB /" B& +E /- I - ++I I F(%/;/E<+I ;E(-% B& (B
/1+(- < - (-"+E- 2<
& 1/<B'1/+I1B( "(+, < <-(-% /E; &;/ 2
;B(-
--3 F(G;< -/< (- B& ;+(BI4 "(-
34
%-; (< (;/-(++I G(++I /F;1/1' (-B/ <(+-B 1-(4 (-B-B(/- 1;&1< EB (- 1;B( &(< -G /E,-B;I <&(-<
E+B4&;:< B& +<<( 9J/,( B&;I- 2+GI- /E;3 - &; (B ,*< "/; </, E-/,"/;B+ <1/B+(%&B /- /- /" B& ,/<B
1/+I1<: B& 9B// ,-I 1/1+ E%&B;
(+) 2
( /B& &(-%+I F(G(-%4& H1+((B-<< - -(%,B( - ++E;(-% B+-B< /"
-/B -/E%& ;</E;<: F;<(/- - &(1 ,/+ - "/;,; <5EJ ";5E-I /" <-< /" -E(BI - B& +B DK& -BE;I H1/<(-% (-
B& 9&;+I -I 1/1+ &;+I -I /" &( /E"3 "(;<B 11+ B/ /(+I "E-B(/-< (- B& - ;G -( B(+ "/; 1;&1< B& "(;<B
;</E;<: F;(-B4 & E;F(F+' &(< %-;/<(BI B&- /""; B/ B; BB-B(/- ,;+I B/ B&,<+F< - B(, B& ;(F(-% "/;< &(- &;
(<B 1;/+I "(B< (-B/ B&B "(-+ %//<= - G&- B&< ,B&/< ;(<* /<E;(-% B& 1/(-B B&I G; ;B&B*(-% <<E+B /- 1/1E+;
B%/;I EB (B:< "; %;(BB(; - &F "(+ B&I 11+ B/ &(< 1;<E,+I (-B- B/ ,*4 E+BE; B& <,++'B/G- H(<B-
+*; B&- <I B& /<B-<(+I +((/4&E< B&I %;E++I (-F(%+ (-%+B/- B*< "E;B&; ;(<* (- B& ;E<&(-% +/-+(-<< B& +/<B
<(,(+; <;(< $ %% !4 B&,<+F< (-B/ &(< +(" B&;I "(+, -/B 1* G(B& B(/- I +/F< B& ;E% E< B& ,/'
- <BI+(<& - ""B(F /1-(-% 1;/F((-% B& "(+, G(B& (B< -;;' E<(-% F;I +(BB+ (+/%E4&(< 1I< B(/-+ FE+-;(+(B(< B& <B;E%%+<
<5E- G < ; +(- ,/F(-% B(F4 ; B&< BG/ G/,- G&B /"" B&/E%& B& &;B;<: 1;</-' G(B& <E<< - &/G ++ B&<
;/<< B& <;- < /- %;1& B/ B&I <,6 &B ; B&(; (-B-' +(B(< ,;% <+/G+I - (- +(" B&(-%< /FB(+ B/ ,*
/1+(-
(-(B G/;+ 1/1E+B(/- %;/GB& B(/-<6 /< B& E;F(F+(<B ;/%' /-<(<B(-% /" (-<<-B ;1B(B(F B& (/- <& ,4 /; ++ &;
B&;/E%& B(,4 B ;B(- 1/(-B (B -(< G&B (< %/(-% /-6 < & E<(-% ;E%;I F- B& B(-(<B %<BE; B+-B <& /"B- EB +/<B B;%(
(< )/(- I +E +(- (-(B(-% B&, /; ; B&I E<(-% &(,6 /" &E,-(BI <&(-< +(* /-4 "(%E; - <& <E""; %;B+I
B& +F+ /" G/;+ /(+ 1;/EB(/-4 &(< (< -/ /,"/;B+;;I & B(-% &+1< G(B& B&(< -/;' B B& &-< /" /B&;< E;(-% &;
F-BE++I B& +E +(- 1*< - B(/-'<BI+ 1/+I1< B&;:< ,/E<+I /" /E;<
;B(-
-- <&/;B +("4 - 1/(%--B H,1+
;/1< /"" +("" /F; G&(& B& ; (<B(-B +* /" ;- <GB;< 1+' (- 1;B(E+; (< H++-B ;(-%(-% /F; (- B& "(+, (< B& B(,
+(- <&/;B+I "/++/G<4 B:< %-E(-+I (-% <1E< - B&(-% B& ;EI'
(&+ <<-;'+(* +//* G&- < <BE-B <& G< F/B
";(%&B-(-% B/ < B&B 1/<<((+(BI " *(< (- ,*<&("B <&//+' /,,(B,-B - (-B-<(BI B/ &(< 9%+(<B ,- /- ,1E<:4/ &;
- )E<B &/G 1--B G ; /- ;//,4& "(+, 1;<-B< "EBE; ,/-/<I++( ;/+4 B;-+ ;(B
/1+(- B//* ++ B&(<
"(-(B ;</E; , +;4 - +;+I /- B&B:< -/B "; /"" /" &; ; /B& /F;B - <EB+ 1(- 1;/<< (B - BE;- (B
& B(BE+; &;B; ! &(< -, )/I+<< ;1B(B(F *;*(-% (-(B(/-< B&B B& B+ /E+ (-B/ </,B&(-% 1/<(B(F4+* /EB
(< -F; %(F- ! *< /EB +(F(-% G/;*4 E; &;/:< (- (< -/B - ;%; < ;+(%(/E< <1("(' G;(-% I/E; &;B /- I/E; <+F4
(- B(-I (- 1 (- B& G//< (I++( ;E;+ &(GI (B:< <,++ ++I &;(<B(- 1;+4 F(/E<+I ## $ (< G;(BB-
B-(-% &(< ,%; %;- - ;* ,1 &/F+4& "(+, ,*< ,-I "(+,< &F E< (,%< /" - (;B I ,,I G;'
-F; F; +BB(-% &(< %E; /G-4 - -/;,/E< ""/;B B/ ';/,-B(' E;(+ +(-% G/E-< G<&(-% G(--; ,I ;% G&/ & -
/< &/GF; (<1+I +F+ /" (< G&B /E+ <(+I &F /, &-< 1(; <(< ";B;-+ 11;/& B/ ,* B& "(+, (-
;</E;"E+-<< B&B ,*< I 7/<I B<B;/1&8 B& B;, E< %E(+B (;B& - ;'(;B& /; <+F' DKK> I ;1;<-BB(F< /"
/1+(-:<
;< +//* +(* G*- &(11I4 I ;(- +(<< B/ <;( B& ++ B(/- EB (B:< E-E<E+ "/; ,/F( B/ <BB (,1;<< I ;%:< %
&< "// GB; "E+ <&+B; B// )/++I 1/<B'1/+I1< +(" -F(' (-+E B&, ++4 <E<1B </- ! % "(+, H1+/;(-% B&
- 1;/BB(/- (- B& "/;, /" &(< <(/- I EB&/;< +(*
/&- I-' F(G(-% G/E+ ;F+ ,/;4 - +(" - ;(,< /" (<%; B&/'
<&/B%E- - &E-B(-% *-("4 F(' &, - /;% BG;B4 ,/; 1;/<( +F+ (B <B(++ G/;*< < +( 1;(<B +(F; :;I4&(< ""/;B
BB>
FFF4"/;A-A(,<4/,
!'("
- /-+I &+1 E(+ ;%:< %;/G'
(-% ;1EBB(/- < <& +F< -/
<B/- E-BE;- (- &; BB,1B< B/
<E,,;(< - 5E-B("I
/1+(-:<
<E<< - +<B(-% (-"+E-4
&(< "B (< &(F 1;(,;(+I
" !"% % %
"
B&;/E%& HB-<(F (-B;F(G< G(B& " ! " % " %% &! !%
",(+I ,,;< ;/,-B( (-B;'
(((%"%%&!!%#
!'%!("
<B< - ,E<(+ /++/;B/;<
;&(F "//B% /"
/1+(- G/G(-%
B+*'<&/G E(-< ;;+I &; A&;(++; - A/D&(-% A//4
1;</-+ /;;<1/-- - (; ;;
/&-<A/- CJ0# GA (< -
,E<(-%< - ,<,;(<(-% +(F
A;//, @.4.. 23 D-<&, &/,% A/ A+(-
"//B%4 - B& G/;< /" ;% &/;;/; ,<A;/ D(/ D+(4
7
-(< (< <B(++ F<<+ "/; /E; /+'
2+D';H 1+<D;4 +D< ;;H <<--:< (-% A&(; *< "/; A&;A
(- (A - (-<A-A 1+D< 1/(-A4 ";/, A&(; 1<A4 /-++H A&
A:< 1//*<''/'/ A&(< ,/-A& & 1'%;- 1/<A; "/; "(+,:< <&(I/1&;-(4 & <DA+
&# F(A& ;1H ;/1 /" %&/<A ,/E' (< 1* %/A&( &(-A< ; ";5D-A+H 1D-'
#. !.#/3(*!. ..7 )''
(! # 2)-'' +,
(< /- - +D';H4 F(A& %+/F(-% ;E(F<4 - ;(A( ADA H GA;, (*
(++;
(;<A D1 ; AF/ &/;;/;< E- <( A&H F; 9<&*(-%: )D,1 <;< <&/&/;- (- H
&# (< +/G E%B <B;(%&B' ";<& ";/, "(+, "<A(E+ DII4 F&(+ FA&(-% (A4 ,,,4 A:< -(E;<+ F&/ F-A A/ ;-*
B/'F(/ E-/""((+ # "A; <& <;F< D1 -
1;AAH %// (<1+H(-% <DA+ D1 A& &/;;/;4 *- /- (A< /F-
<1(-'/"" "(+, ";/, 0. #4 ;/;H H/D-% &//+D, <-<((+(AH - </, "/;A- A;,< &/FE; (A:< +<<H
& 1+/B (- <-B- /; (< /D;A'/;; A/ <AH "/; (%&A -%+< DA A// ,-H A(,< &(++(-% ;( - +( ;(% ;++H
BG/ G /;+ -(F;<(BI (< ,/-A&< (- &; ,D,:< &D-A & A&A (<A- 9/DA /" /H: (< A& 5D(-A<<-A(+ ;1H
G %I /,1EB;'BE%&B E+B &/D< %;A ;(1/<A A/ A& "+(-% A& /- F&; H/D %(;+";(-4 - F&/ <H< &/;;/;
;E- I F( &-++/;(B/;( 7F&H /-:A A&H )D<A +E8 /,' H/D:; )D<A FA&(-% A/;< ";/, A& 1<A F< ,/; A<A'
B;"(+ 2/;& B+(-%3 1+(-A4
(< ;*(-% ;(-% +(-<4 A:< +;+H <; "D+ A&- A/H:<6 &(< -;+H
"/;,; /B/;:< /,1-(/- EB ;( 1* F(A& AF(<A< - "D++' +/A /" 1/1+ A&/D%& - $J'H;'/+ <AD(/ 1(AD; "+<&<
<;B+I ;E- I ;/"<</; ;F;< /- <-/;A'+D%&< +(* F&- A& ,H H/D:++ <&* F(A& "; A//4 FH ,/; -* "+<& A&- A&
2
* B+(-%3 G&/ BE;-< /EB B/ ";(IIH'&(; ,D, +//*< 1;/D+H ;H (A - < "/; H/D;<+"4 /E -F ;+<< /,(-4
B& ;B -B++(%- G&(& A &; D%&A;:< -*+ ,/-(A/;4 (-++H F ;-* D1 A& -+D(-% A&A /" ;(% <</-
1+-< B/ B* /F; B& G/;+4& 7/<& A&A:< &(%& A&! ;-:A D%A "/; DA("D++H <&/A F&/< DAA'-* "++ ";/,
;(-G<& <BE-B< ++ ,/F(-% H/D +D*H H+( &E(-% ++ A&A ;A;/ ;+<4 ;//" " <;D-& D1 +(*
< /- ; *-/G- < &(++(<4 "-H A&-/+/%H /- H/D; "//A!8 F< < /- A& &(A -/E+ H &(1,D-* < &(< 1D(< &D;A+<
/; </, ;</- ;(%(; B&' H+( ;/++< &; H<4 A:< F++ A; A;D DA (A:< 5D(A (A< A/F; A& <;- (< <A(++ ,*(-%
;(%'BG;B 2(&/+< /E;B' , D-1;(A+ &/;;/; /F- <A4 ; <A(; - , &D*+ E- < F;(A A&(<4
-I3 &< - ;B"B B&B (< (-'
(-% B& :< 1/G; - (< (-%
1E;<E I B& -(F;<(BI B&
- G&(& +</ 11;< B/
&F - (-"(+B;B@/;;E1B
B&/E%& B&B:< -F; 5E(B +;4
;&
- ,(B& 2+(<B&
+-3 BE;-< E1 "/; "(F ,(-EB<
B B& %(--(-% - "(F ,(-EB<
B B& -4 - B&; ; IB(<4
&B:< /EB (B ;++I4
B:< </;B'/" <5E+ B/ BG/
;+I <B/;(<
& 20.?>3 -
20.? 3 G&(& "((/-/<
G(++ ;++ G; /'G;(BB- I B&
+B; ' ' EB&/;
-;I (-/+-4 ;(B;
; +BB
BB>
FFF4"/;A-A(,<4/,
!'("
)1 1$)( $'4&, ),(,
23O 7!571! H,!3 B52!H,.3+
A! &K1 M5K1 ,77!3 H5 H,!2
3 ,.B A!L.!M 5& 2O 550 ! 5A H,!.A &2.1O 5A '33.1 AK.3
O H, BHH!B =B M5K1 !B!3 K753 H,!2 5A
B553 B M!@A! 53! M.H, H,.B AA! B52! 5H,!A .BBH!A M5K1 5KA:
5775AHK3.HO H5 2!!H 57 !A!H 5 7!571! . .3 !! 7BB 53 H,!
B7O B.!3H.BH $ M,5@B 1B5 A!!- 1!HH!AB: 3 A!11 1A+! 3K2!AB
2B53% $ K&&!O HKA3B H5 'H.53:> 5& H,!2 !.3+ 7KB,! H,A5K+,
.ABH1O H 35 75.3H .3 ! 5 5KA 1!HH!A5N 5L!A H,! O!AB $
BHH! $ 5A !L!3 .271O $ H,H .,- M5AA.! 7!571! M5K1 3@H 035M
A ,5M!3+!A H H,! &5A!2!3- M,5 H5 .BHA.KH! H,!2 H5 B5 H,!O
H.53! B.!3H.BH .B B7O: !53 1O M5K1 7,5H557O H,!2 3 7KB,
H, &5115MB H,.B &1B! BHH!2!3H 53! H,A5K+, !, 1!HH!A5N 53
O H0.3+ ;K5HH.53 &A52 BHA!!H: ,.B M!3H 53 K3H.1 H 1!BH
! 5KH 5& 53H!NH H5 1!L! H,! 644* 8H,! 1BH 53! 3 A!2!2-
.27A!BB.53 H,H 7+!B J*I H5 JE* !A AA.L.3+ .3 ,5KB! MB
5& ! A! 1.HH1! 25A! H,3 B,A.3+ .3
. 1!B!N9:
'H.53: ""!&( ! !!"%!! 3OMO ($& BHA53+1O
8=5BH!3B.1O 35L!1> B BO9 .B !35KA+! 7!571! H5 .3 H,!B!
3 !3H.A!1O B!7AH! 7A5/!H $ 53! H.A!B52! 1!HH!AB KH .& H,!O M!A!
H,H@B 35H !L!3 '3.B,! O!H $ 3 +!3K.3!1O M5AA.! 5KH .BBH!A
5K1 35H 75BB.1O ! 53&KB! AB,.3+ 5M3 K753 H,!2 H,!3
M.H, ! O 3O A!B531! H,!O M!A! B0! H5 &5AMA H,!2
A! !A: ! .B 35H 7AH.11O H5 ($& H H,! M,.,
'H.531: N!7H &5A H,! LA.5KB M5K1 &K1'1 H,! A!;K.A!2!3H 5&
32!B H,H ,L! !!3 ,3+! 7BB.3+ H,! 1!HH!A 53 3 H,!3
8 52253 1.H!AAO !L.!9 H,! H,! M5K1 !BHA5O H,!2:
550 3 H,! 1H3H1O K353BH.- ./ EI 3(1B1'=3( B(*> %/ -1E $ $=1. B=*/ +E>B
O ;K!BH.53 .B . 3OH,.3+
HKH.531 +3+-BH10.3+ 7,!352- 1EB>* E=(. 1/ 2! 1F . = DK2&6 A! &K1 ,77!3 H5 H,! 7!571!
!353 A5K3 M,., H,! 3AAH.L! & ,.' )! &+ ")*&' ! '"! ) !*' !&' *&' +.L!3 H,! HB0 5& !BHA5O.3+ H,!
A!L51L!B A! 6QQ 7!A !3H HAK!: !& . *&!*' '% ) )! )
!- !+ #,) ')" 1!HH!AB< 035M .H M5K1 ! .&-
),1 48 &'' +!" !& )& )! &". !*"! $ !& )! '+ !&) 'K1H H5 '3 H,.B 5KH: 1B5 H,.30
. )'%! "' ) *' .!*& "!') &''% 53! M5K1 3!! H5 !'3! =B52!-
H,.3+ > ,77!3.3+C M! 11
15B! 15L! 53!B KA.3+ 5KA 1.L!B
,1$&$18 ,$1 B.!3H.'11O .3L!BH.+H! H,! 64D4C 4Q**-((9
!BHO =5B!AL! '33.1 A.B!B 5KA 3OMO
,! 3.!3H &A2.3+ 23K1 HA .H.53 H,H 5M75N 7A5H!H! H,! 7A5H!H.53 &&5A ! 2.102. B 3 B!A.5KB .B!B!B BHA.0! 25BH
!"! L.B!B =KAO.3+ +.3BH B21175N:
!33!A ,!17! O H,! ;K.B.H.53 5& 5M 75NC 5& KB H B52! 75.3H H55: H@B .&-
2. !3@B 'ABH B3.HAO H5M!1 .3 H,! .3BH.+H! H,! 25 !A3 !A 5& .35K1H! ,.B M.&! 3 B53B M.H, 'K1H H5 1.30 H,.B M.H, !BHA5O.3+
'!1 M.11 BL! O5KA A57B> 1BB.- L.3!B: KH A! .H .B 1B5 K! H5 5M 75N 2H!A.1C 7A5L! H,H ,.3 1!HH!A:
O! B52! B5AH 5&
1 5A3!A :,.B B5K3 B 5AB!H &A2!A 11! !3/2.3 7A5H!H.53 MB 7A5L. ! O ,L.3+ H.2! 1.2.H<
1.0! +A1! !,5 5& A.HK1B HA3B-
!BHO:
!BHO 35H! H,H 7A!L.5KB H,! B53B .35K1H! M.H, B211 75N
),( 1,)4+ $&--)(
&!AA.3+ O5K3+ +.A1@B K3KB! &!AH.1- .3&!H.53 M.H, 5M75N 7A5H!H! 3 !N75B.3+ H,!2 H5 B211 75NC .
.HO H5 H,! A57B: !! 1.P!H, ,.B 2.102. B M,!3 H,!O A! 3 KB! H,! H!,3.;K! .3 5H,!AB>:
O13 A!A@B &5A A!1H.L!B M.H, B21175N: 5 .3 ,% ,(,
!&&& !!% %!!, 6DD* $ JJ O!AB !&5A!
!33!A@B !)) &
(&8 )((1
( % & ! )%!" !N7!A.2!3HB $
!BHO .35K1H! ,.B 3 B.KA.3! B5.57H,O
8 5AH53 !M 5A0 JQ6I9:,.B M.&! 1.P!H, 3 ,.B HM5 O5K3+ @L! 5&H!3 M53 !A! .& O5KA -
!N!11!3H M5A0 !1B M.H, H,! &!A- B53B: ! KB! 1.P!H,@B 03.HH.3+
"$( &11,- 5K3H &A52 ,.3+&5A .3)K!3!
H.1.HO 5& O5K3+ +.A1B M,5 ,L! .! 3!! 1! H5 71! 5M75N 2H!- 0 .3 H,! 64DQB 3 64#QB 52
51O@B =+3+ 5& B;K.AA!1B>
K32AA.! 3 !52! 3+AO A.1 &A52 3!.+,5KA@B .3&!H! H,!A! MB 7A5+A22! .3 %% "", !B7!.11O
+,5BH1O B7.A.H 2. !3B H,.30 5& HH1! K3 !A H,!.A B0.3: 8
!BHO , 11! ($& M.H, BH,!A B 1A.,
+.3 .3 3 AH.1!
AAO 5HH!A@B!!1 3 H,! M.1.B 1A! O , 5M75N:9 !B7.H! !- 3HP!3 B H,! 2.3 7A!B!3H!A: 5KH ,5N!A
.,!1 5A3 ,
5& H,! 11!H &: .3+ !N75B! H5 B!L!A1 5KHA!0B 3! 5& H,! 23O 53BK2!A- /KBH 2!3H.53! =HA.++!A-,77O
( )(- 5& B21175N $ H,! 5OB H 1!BH M!1&A!-A!1H! 27.+3B H,!O !A23 ,K3H!AB>
:
! )! +! 53! !1.!AH!1O O H,!.A &H,!A $ 25K3H! MB 3 HH!27H H5 3HA.+K.3+1O 53! !3"
51O 1H!A
H,!O . 3@H 53HAH H,! .B'+KA- 52H H,! ,K+! 3K2!A 5& ,.3 BK! KH,5A.H.!B &5A 53B7.A.3+
.3+ ! 1O .B!B!:
!BHO 1B5 1!HH!AB H,H M!A! A5K3 H H,! H5 53!1 H,H ,! MB &A52
AB
-18 ( )6+)7 .35K1H! B!L!A1 5H,!A 7!571!: H.2!: !571! M!A! B!3H 1!HH!A
:
B L. 21.3+ A!2A0B 5 22ABH!3 3 511!+K!B H,H B. .& H,!O . 3@H 57O .H 3 $", ),!
MA
!33!A 35H! 8% & (! &&! 7BB .H 53 H5 6QF6(FJQF,5M!L!A ) ' &)!&'&
CC@ .*
GGG6$1=B /B*. >61.
- BB =>
5 +,$&- 5KAB! 0!7H .3 A.3!: 52! 7KB KH .H MB H5 0.11 +A!OB B H,!O 5.3H2!3HB BB5.H! M.H, ,.1 -
M5K1 115M O5K H5 H0! .3 + 5& M!A! /KBH =HA!! AHB> 3 H,!A!&5A! .AH, 3 2. M.&!AO 3 2. M.L!B
! 5+-,H.3+ L!B ,.7B 8H,H@B !!7 &A.! 75HH5!B L!A2.3: B H,.B !L!A HAK!< 5KH A! HA .H.5311O BB5.H! M.H,
!1.!L! H,! !N713H.53 &5A &5A 5L!AB!B A! !AB9 B 153+ B O5K H,! A!MA 2!3 35H H,H +A!OB H,! H,!AM5A1 5& H,! &.A.!B:
3O
H,!B! .B H,H A53 .5N. ! 5K+,H 7.01! !++ 5A +,!A0.3 A! =HA!! AHB>: 51 5HH.B, .+,13 H1!B H!11 5&
!.3+ ,!L.!A H,3 A!H,1! H5 +5 M.H, H,!2: A!2!2!A 53! ( '$1" ,K23 !.3+ KBK11O 2. M.&!
.A +H,!AB .3 ,5115MB .3 H,! L! !.3+ B0! H5 +5 5KHB. ! 3 !H ' * '& 11! H5 HH!3 &.AO .AH, 5A 5&
)55A: 5+B 7AH.K1A1O B211 53!B B52! ,.7B H,H , 7KH L.3!+A 5H5A M,5 .B A5K+,H H5 3 .11
H0!3 .3 O H,!.A 5M3!AB M5K1 ! 53: ,!3 B0! M,O MB H51 &.AO: 52!,5M H,! 7!AB53 +!HB
&&!H! O H,! J KH 35H H11!A H,H .H MB =M!11 035M3 H,H L.3-
-4, '--! A57 5& B52! 1.;K. 5A 5.3H2!3H
,K23B: 3! !N7!A.2!3H M5K1 !+A M.11 20! 11 H,! !!A +5 )H>: ,! AH.1! 53 H,! KA.0 53- 53 53! 5& H,!.A !O!B: &H!A H,.B
! H5 H0! B211 5+ .3H5 53! 5& 3 !! H,.B B!!2! H5 ! +!3!A- B7.A.!B
A!2.3 ! H,! 7!AB53 3 15B! H,!.A 35A21
H,! ? 5+-,H.3+@ L!B 85A B.3! 11O !7H! HAKH, B M.H3!BB! 2! 5& B52!H,.3+ B!!3 153+ +5 !O! 3 B!! &.AO13 H,A5K+, H,!
.H@B L! 3AO9 3 B!! .& .H 5H,!A 7!571! !.3+ B0! H5 1!L! !B.1O BHA3+! !35K+, H5 ! .3 B.3+1! !M.H,! !O!: BK11O H,!
&.3HB M,!3 M10.3+ KH A!L.L!B 7A!2.B!B &5A H,H A!B53 .3 B!L!A1 A!2:,.B MB 2!BB+! 75BH! &.A.!B A!HKA3 3 AK.3 H,! 2+.1
M,!3 7.0! K7: & 53! A!&K11O 7KB 53 .&&!A!3H 5B.53B:,.B .3 B!L!A1 71!B 53
3,HH3 !O!:
H,.B M5K1 .3L51L! 35 AK!1HO H5 5& 5KAB! MB H H.2! M,!3 7KB BHA!!HB O 2!H,5 B .3+!3.5KB 5!AH .A0 MA.H!B 5& = 523
5+ 5A .A : BH.11 , !!A !1.L!A! .3 M55 !3 B H,! 2!BB+! .HB!1& MB BKA : H0!3 5KH 5& ,!A ,.1 -! 3
,!,1 $1", AA!1B 3 11 H,! 7K27B M!A! ,! 1!HH!AB 5& H,! M5A B , !!3 ,L.3+ 1.L!.3+ .2+! 5& ,!A
& *')& ") 23K1: KH H,A5K+, A!H3+K1A BHA.7 BKBH.HKH! .3 ,!A A552 M,.,
&&)!&. H MB 35H K3H.1 H,! 1HH!A ,1& 5& B52! ,!LO AK!A 5A 71BH. A!B!213! !O@ O@ 3
5& H,! 64EQB &H!A H,! ?.3L!3H.53@ 2H!A.1 M,., H,!3 MB +1K! MB KA.@ KH H,! 7!AB53 BH51!3
5& H,! ?715K+,23@B 1K3,@ H,H 53H5 H,! A5 3!A H,! KA:,5B! A!HKA3.3+ H5 ,!A ,KB3 &H!A HM5
11% $( )41 BM 7.01! 53.53B !.3+ B!AL! .3 M5A B A! =5O3!! . ! .3 O!AB B7!:>,! M523 !1A!B
,!1
5,3B53 B! 8
.33!- 7KB: & 5KAB! O H,!3 25BH 7KB KA.0 '12 JQQ6$$A!BKAA!H ! H,H B,! =7!A!.L@ 1.HH1! M,H H,!O
B5H 64D4 $ 9 MB 5L!A! M!A! +!HH.3+ H,!.A !!A !1.L!A! 53 713!H
K7.H!A:> ,O MBH! . .3 H,! B7.5KB ,5KB B,! 15 +@
O ,.1.7 1BB .3 ,.B & ( .3 2!H1 0!+B 3 H,! 7K27B M!A! BK, 3 .3+!3.5KB 2!H,5 53 .3C K3H.11 B,! 335O3H! 53! 5& ,!A
) * 8A52!H,!KB ?+B 57!AH! @ M,., 1! H5 15H B.11O 2!BB+!< ,O 35H .3BH! O!B M.H, !AH.3 K3H.53! H,H
550B 64#I ,7:*9: 1BB 5!B3@H 5& 51 !A A.30!AB 5271.3.3+ H,H B52!H,.3+ 1.0! =!MA! H,!O A! MB O ,!A M,., H,!O 7!A!.L-
53B. !A H,! 75BB..1.HO 5& H.2! ?H,!2 3!M +BBO !!AB /KBH 53@H 253+ KB>< .3+ H5 ,L! ;K.3H! ,!A M.H,
B1.7 !L!3 .& ,! , ,!A 5& BK, HBH! A.+,H@: B0! 2O 4Q-O!A-51 $", ),1, H,!.A H.53B H,!O &33@ ,!A 1.3
53!7H: 5M!L!A ,! 5!B 20! B.BH!A M,5 , M5A0! .3 7K .& +& !!&! 5& H,H O! M.H, 7K&& 5& H,!.A
53L.3.3+ B! &5A H,! = B,! , ,!A 5& H,.B: ,! B. H,H A!H,C B,! &5K3 H,! 71! &K11
HH0> !.3+ ,5N $ H,5K+, M,H .H MB 35H B52!H,.3+ B,! MB MA! 5& 1.+,H M.H,5KH 3.! &5K3H.3 5A
5,3B53@B 25H.L! 5K1 75BB.1O 5& KH H,!3 M,!3 B,! M5A0! .3
,$++$(! 6$1"- 27 &A52 M!3 .H . B7A.3+:>
,L! !!3 .B 35H !N71.3! : H,! 7K .H MB = KA.3+ AH.53.3+ A! M.H, +A!H .3H!A!BH .253 !A! M! 1!A1O ,L! 3 ?K3-
15 1- 3 H,! 531O &55 M! . MB .& 3 5K3+@B A!75AH 53 A.77.3+ .H,!B H.53 5A 5.3H2!3H@ BB5.H! M.H,
& )! & 5&'!A H!1!7,53! 3 5A !A! 3 H,!.A ,11K.35+!3. 5.3H2!3HB ,.1 .AH, H,H 1B5 ;K.3HB KB
,!!B! 53 H5BH &5A 1K3,H.2! : MB A!2.3 ! 5& M.H, H,! H.53B 5& H,! &.A.!B: .A0
3!L!A .3 H,! !L!3.3+>: 3 .3HA.+K.3+ 7BB+! .3 H,! !L 2!3H.53B 5H,!A 5.3H2!3HB M,.,
$(!, ( ,& & 5!AH .A0@B
%( ! 2.+,H =20! H,.3+B 77!A H
! H,! 33.3+ 5& L.3!+A .3 A!1 s 5 ,3+! H,! BK/!H B ,.1 ! +(C H,! 'ABH ?B.!3H.'@ LBH .BH3!> 5A B!3 53! .3H5
1! 7KB
OH,,B!A .3 H,! !A1O 64(QB A!2!2!A .3L!BH.+H.53 5& &.AO 7,!352!3 HA3!:,.B .B 1!A .3 .-
M,!3 BHAH! 8K3 !A+!9 A.30- !.3+ H51 H,H .& O5K 0.11! +A!O M,!A! H,! 6DH, !3HKAO 5HH.B, H.53 H,H .A0 MB MA! 5& BK,
.3+ .3 7KB .3 H,! !A1O 64EQB A B;K.AA!1 O5K B,5K1 KH 5&& .HB H.1 2.3.BH!A H!11B KB H,H =M.H,!B 2.3 -1H!A.3+ BKBH3!B 3
B30B M!A! 1.2.H! 71.3 A.B7B 3 H0! .H H5 751.! BHH.53 3 ,L! B1!!7.! 5.3H2!3H H,H M,!3 H,H H,!O M!A! BB5.H! M.H, H,!
M.H, 1K! 77!A HM.BH 5& B1HC H,!O M5K1 +.L! O5K 53! B,.11.3+ 771O HA5K1!B H,!.A &3HB.! &.A.!B: H B,5K1 ! A!2!2!A!
+B 5& B1H! 7!3KHBC AA5MA55H 3 B.N7!3! 8D:(79 &5A .H:,.B L3.3+ .H H5 ,L! K3KBK1 H,H .3 7A!-25 !A3 H.2!B 3OH,.3+
.BK.HBC 3 7.01! !++B 3 MB 5273.! M.H, BHA53+ '+KA!B 3 B,7!B A!7A!B!3H! H5 H,H MB M!.A .3!N71.1! 3
+,!A0.3B $ 5H, 5& M,., M!A! 5& MA3.3+ 35H H5 0.11 A! B;K.AA!1B .H B .& .H M!A! 'H 5& 3H..B2 .3 7AH.K1A 2+.1 M5K1 !
O7A553 A.0
!13,511O 5A BB5.H! M.H, H,! &.A.!B 3
75BB!BB.53 5& B52! .3B.3KH.3+ H,.B M5K1 .31K ! ,11K.3H5AO 5A
7.A.HC A.B.3+ H,! 5K1 !O53 .HB 7BO,! !1. BHH!B:
!33O 3 1!B
52253 HA.3:> 5A .A0 H,!B! MA.H!B 5KH !.3+ =MO M.H, H,!
5.3H2!3HB .3 K! 0.3 5& L51K3- &.A.!B> .3 533!H.53 M.H, M,H
HAO !53 .+,H 8B .BH.3H &A52 B,! H!A2B =H,! P &H5A> 1B5 .3
+!3!H. !53 .+,H9 !31.3+ H,.B .BBK! :
7!571! H5 B!! H,! &.A.!B:,H H,! 35H,!A 2.3.BH!A !L A
5.3H2!3H MB ?B1!!7.!@ .3 .H!B HA.0 A,2 .3 &
(&
H,H .H 2O ,L! !!3 3 57.H! 5A &%"(* ! ( ()%&#) & %,
HAK! 3A5H.: ! %(&% ,B B1.+,H1O .&&!A-
5A .3+ H5 .A0 .H MB 35H !3H L!AB.53 5& H,.B H1!: ! H!11B
/KBH M.H,!B M,5 03!M 5KH BK, KB H,H H,! M523 1!A3! ,5M H5
E- I-1=
2.3 -1H!A.3+ 5.3H2!3HB:,!A! A! 20! H,! 2+.1 75H.53 &A52 H,!
23O &51015A. 5K3HB 5& BK, &.A.!B H,!2B!1L!B 3 ,! HA!B
.3 CC@
GGG6$1=B /B*. >61.
- BB =>
035M1! +! 5& H,!B! BKBH3!B M,5 1! 3 '33! H,! +3+
0 H5 H,! AK. B: 3 ,.B %, )' && H,H ,! 5K1 7!HA.&O 5 .!B 3
%(! %( !M.B 7!3! H,!O .31K ! ,.2 .3 H,!.A 715HB:
8M,5B! . .5BO3AH. 751.H.B A! ,! +3+ B.1! H5 53 53 M.H,
!N715A! .3 9 H!11B KB H,! .3H!3H.53 5& KH.3+ H,!
35H,!A &.AO 5.3H2!3H H1! H,H 5 O 5& H,! .3&25KB 2!A.3
.31K !B A!&!A!3! H5 3 3H. 5H! HA.H5A !3! .H A351 &A52 .HB
H5 H,! 5.3H2!3H@B !3,3H2!3HB: 3+1.B, +AL!: ,!O &5K3 H,!
+.3 .H &!HKA!B 2. M.&! M,5 151 5.!B H55 M!11 .3&5A2!
.B HA.0! .3H5 !3H!A.3+ &.AO13 3 BKB7..5KB 5& H,! +3+ B5 H,!O
O B,7!-B,.&H.3+ &.AO 1 :,!B! B71.H K7 &H!A B!L!A1 M!!0B@ HAO.3+
BH5A.!B ,.+,1.+,H H,! !1.!& H,H H5 +!H H H,! KA.1 715H: !AH.3
!AH.3 BKBH3!B 035M3 5KH
A O! 5A O!A MB 53! 5& H,!
&5A !3HKA.!B 5K1 HA3B75AH 53! +3+ 3 ,! 5273.! 1
H5 &.AO13 5A &.1.HH! !53 H5 A!!3 B1! 35AH, 5& !1&BH .3
.+,H 3 BK++!BH H,H 3H. 5H!B
O 6#DE: ,! 'ABH 713 MB H5
H5 H,!.A 7BO,5HA57. !&&!HB M!A! BH!1 BHHK! 5& H HA.0 3
1B5 035M3: KAO .H 53 H,! 7A57!AHO 5& A1 5&
KH M,O H,.B 1.30 !HM!!3 !.HA.2 1H!A H5 .+ K7 3 7BB
2. M.L!B 3 7BO,5H.L! 5&& B =H,! HAK! H HA.0>: KH
BKBH3!B< !11 .H .B M!11 035M3 1 57H! .3BH! H5 AL! 6J&H
H,H !NHAHB &A52 H,! &K3+KB !A+5H J.3 8I:D29 -H11 '+KA! M.H, 23O
M,., +A5MB 53 AO! 3 5H,!A . E31/ B(*> 1.3- B -I >3( =*- 3* 1$ $1. B B( >* 1$ B.2.1A.H.!B H5 H,! A .&& .3H
+A.3B , !!3 KB! O 2. M.L!B >B= . */ =B(>(*= $B = >3B 6 (F / F = > / $1. $1=. B 53! 3 B!! O 7KHH.3+ 7,5H5B
&5A !3HKA.!B H5 B7!! K7 53HA- 3 =$ B / >B- >3( = $1= 6 GB( *B $1= >1. .*/EB > / *B 5& H,! HM5 B. ! O B. !: 1
H.53B .3 ,.1 .AH, K3H.1 H 1!BH H,! */<B -B = I .*--*. B= 6 /1.-1E>8 =1-I /1B# 1.2! H,H ,! H,!3 1!&H A!13
64H, !3HKAO K3H.1 .HB B. !-!&&!HB &5$( ),8 . .3
K3! 3 1!&H O!A 3 35H,!A
M!A! !!2! H55 3+!A5KB &5A 5271.! 32! 5A H5 AAO
2! ..31 KB!: H .B 1B5 M!11 035M3 53 M.H, H,! &0! .B5L!AO 5& H,!
H,H !A+5H 53H.3B 1OB!A+. . s L!AO
K3+.3 5.3. !3! &5A +!3!B.B: +.3H H H,! &A2 5& 7. 7HBO
&A52 M,., H,! M.BB ,!2.BH O5K .3 5KH JQQJ MB 7A5- ,! A.B, .3H , !!3 32! 51!23: ,! 7.A 1.2!
1!AH 5&&233 'ABH BO3H,!B.B! +A22.3+ 1B, +2! &5A H,! !N,..H! .3 .L!A7551 3 H,! ,5N MB H,! 7!HA.'! 5 O
H,! 75M!A&K1 ,11K.35+!3 5AM!+.3 A5 BH.3+ 5A75A-
3,!BH!A 7A.5A H5 !52.3+ H,! 5& 1!+!3 AO .33
5K1 H,!
.3 64I# M,.1BH A!B!A,.3+ !A+5H@B H.53 M,., .3L51L! )O.3+ A5K3 .3 25BH KA.5KB .H!2 5& A.1MO 1!&H KB!MO .3H ,A+.3+ B.N-
B7!.'11O ?353-KH!A5H53.@ 2!- ,!1.57H!A 3 H,A5M.3+ BHK&& H 1K+++!: !&5A! H,H ,! , !!3 7!3! L.!M H5 M,H 77!A H5 !
..31 7A57!AH.!B: HA+!HB 53 H,! +A5K3 8 M.11 B7A! !N,..H! .3 K1.3 3 !L!3 !A- 1A+! 3 KA.5KB A5M B !&5A!
5A! 53 5!AH .A0 H,! &.A.!B O5K H,! !H.1B9: MB MA.H.3+ K7 1.!A .3 5K3HO 3HA.2 M,!A! ,! A5BB.3+ H5 3+13 :
3 1H!A! BHH!B 253+BH 5H,!A H,! .3BHAKH.53B &5A H,! +2! 3 MB H,! B!3BH.53 035M3 B =H,! 0 .3 2!A. 1 &!11 5KH
H,.3+B 3 ! &5K3 .3 2O B!1&- , /KBH A!,! H,! 1.3! =5K KB!MO .3H>: .B A!H5A MB M.H, ,.B &!22! &H1! 5L!A 253!O
7K1.B,! 550
(! 8JQ6Q9 +!H 2.3KB 75.3HB &5A AKB,.3+ 3 H1.3 2!A.3 .22.+A3H B H,! +3+ M!A! 7133.3+ H5
8B!! ,HH7FFMMM:35A23B,M:5:K0F B!+K11>: 8=AKB,.3+ B!+K11> .B 11! K.B!77! A..5 1 A!BKAA!H H,! 5 O 5& 1!N3 !A
3!2!H53:,H21 BHK7. 7K3 .3 5AM!+.3 3 M.11 23 M,5B! 5KHA+!5KB A!!A .3 H!MAH A!!3H1O !!B!
, ),'( "6 B7A! O5K H,! !H.1B 5& H,H H55: ,5N.3+ 7!HA.'H.53B M5K1 B73 !M 5A0 A!H.1 BH5A! 2+3H!:
.! &)'& !+K11B &!HKA! 7A52.3!3H1O .3 H,A!! 53H.3!3HB 3 25A! H,3 H!MAH@B 5 O MB BH51!3 .3 1H!
H,! +2! 3 M!A! 5& 5KAB! 35H JQ O!AB: 6#DE O 7!AB53B K3035M3 3
1!+.H.2H! HA+!H:9 H H,! !NH 0 .3 6#E4 .KB!77! 1 3!L!A A!HKA3! 1H,5K+, 751.!
!4&&- 252!3H '3.B,! H,! B!3H!3! MB 53! 5& H,! HM5 2!3 !3++! .BA! .H! 1@B 1H!A KB-
H 2O ! .H 1H! H5 A!B753 B!+K11 13 ! 53 2O 153O:,.B O !5A+! K11 H5 AL! 353! 5H,- H.53B 5KH H,! +3+:
H5 H,! .H!2 ?!+K11
OBH!AO@ .B H,! ! , H.2! .3 6# O!AB H,.B ,B !A H,3 H,! A .&& .3H 1@B HA.1 5& ,5N!B M!L!
KH ,!0 H.2! .B /KBH ,77!3! : H O5KA ,!AH 5KH A1 7!HA.'! 23 !BA.! B A5BB H,! 3.H! HH!B KH .3
3 .11KB.53 3OMO:
KBH 5KHB. ! 2O KBHL::: =2!A.@B +A!H!BH ,5N>: 1 6##4 ,! 13 ! .3 KBHA1.: ,!A!
M.3 5M .B 1A+! 1M3 BKAA5K3 ! $&- ,$% ,( 53&!BB! .3 !AKAO 6#DQ +5.3+ ,! AL! 53! 5& ,.B '31 ,5N!B
O 7AH2!3H 150B 53 11 B. !B:
'! !&,. O H,! 32! 5& !3AO 11!: ! 32! H,! =
A1!
3 5&
A52 H.2! H5 H.2! 1A+! )50B 5& B553 57H! H,! 25 KB 57!A3 . A3+!> &H!A H,! H5M3B,.7 M,!A!
B!+K11B 53+A!+H! H,!A! H 3.+,H H,H K11 !2715O! H5 7BB 5&& H,! ,! 57!AH! ;KAAO 3 1.2!
/KBH B .3 ,.1.7
.1H53@B A!75AH:
" +1,$ !$(1 A .&& .3H KA.3+ ,5N 5& ,.B H,! .B5L!AO: 5A H.2! .3
O
@L! 3!L!A H,5K+,H 5KH H,.B B 52! H.2! +5 H,!A! MB 5AA!- 5M3 .3 !M 27B,.A! KH H,! 3
K3! 5& H,H O!A 1@B
7AH.K1A1O 2OBH!A.5KB $ @2 B753 !3! 5KH H,! &H! 5& ?H- !3H!A7A.B! MB BM.&H1O AK21! O
A1!
3 MB H,! B!3BH.53 5&
5K3HAO 5O 3 M!11 KB! H5 A.0@ H,! A.B, .3H H,! KH,5A.H.!B: O 3!O 3 MB H,! BK/!H 5&
3.21B 5.3+ BHA3+! H,.3+B $ 3 : 5.3 .2253B MB 0!!3 3 !A1O 6#DE 1 &!11 .3 M.H, ;K!BH.53 H.2! .3 H,! 5153O@B !+-
3!L!A H550 3O 35H.! 5& !NH1O H5 '3 3O !H.1B 5& H,H '+KA!@B +3+ &A52 A5O !M 5A0 HH!: .B1H.L! BB!21O 1H!A A!75AH!
M,!3 H,.B ,77!3B:
O +K!BB .B ,.BH5AOC KH H,! A!75AH 5& H,! A.B, ,! +3+ B,!2! H5 ?A!BKAA!H@ .3 H,! 53 53 & .3 K+KBH 5&
H,H B52!H,.3+ 8.3B!HB +AKB 5A .3H@B K3!A!253.5KB '11.3+ 5& 5 .!B 5& H,! A., 3 &25KB 3 H,H O!A:
M5A2B9 52!B 5KH 5& H,! +A5K3 H5 52 AH!A A!1H! O !B253 ,51 H,!2 H5 A3B52: 1 , ,% (9$
! !H!3 O H,! .A B: 50,2 .B 35MH B5 ;K!!A B ,.B 53L.3! H,! 2OBH!A.5KB M523 . . *')&
CC@ .2
GGG6$1=B /B*. >61.
"
"
"
#" "
"
" #"
"
. CC@
GGG6$1=B /B*. >61.
* -!) &(% ,"% & (( -!) !( ," $
% +-& (%&( % ! ! * (& !)%% &#
,0#
(. "$'+"+!(&$!
% "!&( -!)% && ! ( ++%))$'-!&$'+"+!(&$!#
.*/ ( $1E'(B B /*/'= / G( / B( G> >B*-- 3E= / E/B1E( 6 ( 3 13- '1B 1EB >*H I => 1- / >BI*/' 1F =/*'(B G*B(
=./> G = 3E>( , 1/ 1$ B( *= ./I F =IB(*/' B( I / $=1. B( -/ / .I E/B / '=/3= /B>6 ( I ( BG1)
>B/> G> B 3- -- */*. 1/ B( G = (33I666 =11. (1E> >1 >(= .I E/B<> 6
=F $=1/B6 B *> ,/1G/ */ >B1/* > B( ;-E E /-I G> ='' , B1 = -*BI G( / ( )( G> 1/ B( >. G-- > B(
*-->< / */ > F / .1/B(> 1$ $*'(B*/' DKKKKK . . = 1$ 1E= B1E= '=1E3 . E3 (*/ 11= G(*( G> -GI> - $B >-*'(B-I += G*B(
>1-* => * 6 E=*/' B(*> BB- ( = .1B( = . / >B=B I33*/' 1EB 9(1G 11- *> B( B( -/*/' -*'(B - $B 1/6 (*> = B 3B(
( 3= .1/*B*1/ B(B >1. B(*/' B ==*- H(**B8:
I F*>*1/ $ GI EB $1= =* $ 1$ -*'(B 1/ B( G-- / *--E.*/B B( =11.
( (33 / B1 ( = (E>/6 (*> $ -*/' .1. /B *B > . >1 F =I = - > *$ G = -*BB- 6
3 =>*>B $1= G ,> / >( $1E/ ( => -$ = --I B( = 6 B G> B*. B1 - F EB $1= G1, 1/ B(*> 1>*1/ -I*/' 1/ .I >*
> BB*/' 1$$ */ > =( 1$ (*.6 '1B E3 $=1. B( /( /1B* B(B / HB B1 $*/' B( -*B = 1/ B( G-- B1 > G(B
-,*/' $1= I> >( F /BE--I . . 1/ B( /( G> $-I = G*B( 3=*/B 3 = *F B1 B( >(1G 1$ * ==1B >BI-
=1>> B( BB- $* - 1$ */*. 6 1.*/' B=/>-B*1/ 1$ B( >1/' B(B 3-I 6 ( >1/' -1G/ " B( >1=B B(B G => 31*/BI (B6
=1>> G1=, => 1-- B*/' B( 1/ =B> >* B(B 9G G*-- -- . B '*/: '=/$B( => G> B-- E/.1F*/' / $ -B = - EB F /
1/ 1$ B( . >G ( = / H-*. 9
I = '=/.1B( => =1B( => >*>B => 9G G*-- -- B B(B ' ,/ G (*. B1 >(1G B(B
G(B = I1E 1*/' ( = 8: ( B1- (*. 1$ ( = . B '*/6: >( B = $1= G1=- B(B G> >(1E-/<B B( = 6 1E- ( = .I E/B 1/ B(
3= .1/*B*1/ / B( E=*- G1=, = E/ -* F-I -1>B -1/' '1 / -.1>B $1='1BB /6 (F = 3(1/ 1G/>B*=> */ B( (-- >1 >= . $1=
= ( */B1 (*> 31, B / 3E-- 1EB ( = 1$ >(./*>. / (1G B( =(IB(.* B 1$ ( =6 ( *B( = (1> B1 *'/1= . 4E/-*, -I5 "
(E>/<> G */' =*/'6 =E. / ., 3 =>1/<> .*/ (* F 1= G>/<B = --I >= .*/' -1E-I /1E'( 4B(
9 >* I1E G1E- 1. $1= B(*>6: =B*/ >BB G( = B( I / 3 =(3> > */B1 >(1G ./ -1, .I >= .>856 B<> -1/'
33= /B-I ( ( 1. =1>> ( = (E>/ /1B( = = -*BI6 <-- / F = = --I ,/1G > *B B*. '1 EB B(*/, B(B +E>B -1> .I I >
$B--I G1E/ / */ (*> B( B(=1 > ( . .1=I $=1. 3>B -*$ 8 > F*>*B I .I / (13 $1= B( >B6 (*> H3 =* / *> >B*--
/ ./B (*> G*$ G1E- 1. 6 .1/' / >B1=>8 = G> *B >1. >1=B 1$ = .8 B F =I F*F* */ .I .*/<> I ? / = -- (*. >
-- B(1> >( G> - B1 >I ( = $*/- 1 >/<B = --I .BB = EB $1= =* $ .1. /B *B G=*B 6 -* F (*. B1 -1G/ E>
'11I 6 > . = -6 B(B *> G(B ,/ G 1EB " EB 1B( = * /B*B* >
= $B( = / .*/ G = +E>B BG1 B(= > )- $14- $*B +E>B > G --6
*/ F>B B3 >B=I 1$ -11 / (1==1= B(B G> !+& ''*'))' ((8 4!"
B( >B =/ =1/B6 1= .I> -$ G*-- / F = $1=' B .
G(B >G */ B(
G*>( . B =I6 " #
,! #
"
. , */ 20!& BG1 $=* /> / ( >E.. =
+1 */ =.=B( />(*= >1EB()G >B - > / =, G*/B = F /*/' */ B( -B 20@K>
#"
"
G1=,*/' > >E- -1E= */ / * = . G> G-,*/' / = (. >B- .*)2!B(
$B1=I6 / F /*/' > G G = 1.*/' (1. /BE=I $1--I 1F B( G( / */ $=1/B 1$
I $B( = G(1 (> -1/' >*/ 3>> GI $=1. B( 3E $B = *B 1$ -1,)*/ G ( = -*/ 1$ B= > >G >1. B(*/' / 1/-I
-GI> -1F B1 B -- . B(B . 93=B /*/: >1. 1/ =E//*/' $B = E> E3 B( 1E/B=I =16 >=* > -11,*/' -*, >B/*/' >B1/
1/ (*> >* 1$ B( $.*-I6 G1E- >I *B G> > G BE=/ B1 > G(1 *B .*'(B ./ 1EB 2K B1 2D$B 4C)C6&.5 (*'(6 B G> .*-,I)
9>1. B=* $=1. E3 1=B(: .I / = >> /B*= -I */ -, 4B=1E> => / =1-- '= I 1-1E= > .*/'-I B=/>3= /B -B(1E'(
-B(1E'( ( G> /1B >E= 6 $B = ( * / , >G B =5 / ==I*/' =* $> G /B *B 33 = -, > B '*/>B B( *>B/B
>, $.*-I . . => / B( I */<B ,/1G +1''*/' I6 +1, B(B ( G> 3=1-I B( -*'(B> 1$ B( *BI6 B G> '-**/' >.11B(-I */
G(*( B=* G = >E331> B1 = -B
*-, =I ./ > ( *>33 = =1E/ B( $=1/B 1$ B( B= > =*'(B B1 - $B B1G=> (.
B1 *B( =? EB <F -GI> / */B = >B / ( 1$ E>6 B(*/, G G = -- -*BB- >B- 6 .E>B (F GB( *B $1= 1EB
*/ B*F . =*/ E-BE= 3=1-I $1= B(B *B >311, I B( $B B(B ( = G> ./ .*/EB $1= *B *>33 = (*/ =*' 6
= >1/6 -1/ */ -, */ B( =, 4*B G> 7E*B -B 5 $B =G=> G> */-*/ B1 *>.*>> *B > >1.
/ = /B B=*3 B1
*/ /+1I F*>*B*/' =E//*/' -1/' =1 3>B B(= B /' => >1=B 1$ -E>*1/6 ( / (33 / 1/ 11,
B*F . =*/ .E> E. / .I G-, B(=1E'( G*B(1EB /I G1= 1$ ,/1G- ' . /B6 1 !')' ! ) G(*( . /B*1/> B( > 1$
G> $>*/B*/'6 . B1 B( / 1$ B( 9-=*'(B ->8: 1= /IB(*/' I1E .*'(B H3 B6 = B*= .+1= G(1 = 31=B -I >G >1. B(*/'
(--GI / /B = =11. G*B( EB*$E- B '1B G *= = > G B11 =1E/ B( / >*.*-= / = (. >B- G(*- G-,*/' (*>
*>3-I 1$
1E/B B(*/ G*B( B( /*'(B >,I 1EB 2& > 1/> (*/ (*. B1 > = 1' , */ B( 20DK>6 >=* *B >
/ >B=> 1F = B( .1E/B*/6 ( = G> 33=1(*/' $=1. GI E3 ( *--E.*/B*/' 9B=/>3= /B .*-,I)1-1E= -11,*/' -*, (*3
= 1=*/' 3-I*/' 1$ B*F . =*/ .E>* B( /1G >B=*'(B =1 G*B( /11I 1/ *B6 B( .1F*/' (*/ -1G >B1/ G--:6
>1/' G*B( =(IB(.* B 1$ =E.> >E/' > G 1/B*/E B( =1>* /1G F*>*-
*/ -/'E' 1E- /1B 1.3= ( / I B G >B133 B1 -11, */ B( *B( B1 B( - $B 1E= $ BE= > 1/ >(1G $1=.> = .*/ .
$1E/ .I> -$ /(/B -.1>B (I3/1B*> G1/ =*/' *$ B( ./ ( $-- / 1G/ B( = 6 1$ >1. B(*/' B(B (33 / B1 .I =1B( =
G(*- -*>B /*/'6 >B 1G/ / -11, B B( 1B(*/'6 ( 'EI ( F/*>( 6 = > /B-I B( (=*> , */ B( 20@K> 1')>*BB*/' $1= 1E=
EB*$E- 3*BE= 1$
1E/B B(*/ B( >= = 33=1(*/' G /B I / G ,/ G ( /1B)-1/' G*1G / G(1 ( '1/ 1EB $1=
.1E/B*/ 1$ B( 3 13- / -*>B / 666 G>/<B */ B(B " *B G> B11 $= ( > G < B( F /*/'6 > ( G> GB(*/' )&'.
E /-I >G .I> -$ */ /1B( = B*. / =1E/ B( /6 1/<B = -- B( =1 +E>B *) */ B( -1E/' B( 1' 4 >BE.3I '=E.3I
3- 6 G> I1E/' G1./ >*BB*/' G*B( $.*-I >1. 1E/B=I -/ EB *B G> 1/ B( 1EB>,*=B> 1='* --
>1/5 >B=B '=1G-*/' (,- >
. . => '=/$B( = '=/.1B( = I1E/' = 1$ F*--' -- *G --I6 E36 ( 11= BG / B( -1E/' / (--GI
=1B( => / >*>B => $=* />6 >B */ ,& 5$&& ( '->> 3/ $*BB */ B( E33 = > B*1/
*=- =1E/ $*= / G G = */ F*--' . >B*/' >7E= 1$ -*'(B $=1. B( -1E/' E/B1
E/ = B( /*'(B >,I6 ( F*--' G> I $1= >B B( (-- G--6 / B(B >7E= 1$ -*'(B (=*> >*
/ / = B( >= .1E/B*/6 ( - => B1-
$ $ ( 1E- - =-I > B( >*-(1E BB 1$ ./<>
>B1=* > 1$ -1/' '1 >B1=* > 1$ B( / >B1=>6 ( / >(1E- =>6 B = .*/ >BB*1/=I $1=
B G> -B $-- B( *= G> 1- / G G1= 1E= =B*- / - BB => 1EB ;(1G 13- < /E. = 1$ > 1/> $1= .1F*/' 1$$6
$E=>6 B G> B( B*. $1= B(*/'> (/' 3. ./ 22 # .3#.2 (F = .*/ ,$( )&-1)(
B( B*. $1= B( G(*B ./ G( / B( -/ . 1$ / H3 =* / ( I => '16 G> &!&! +! )'&
CC@ .
GGG6$1=B /B*. >61.
$'("*( !#' (*#'( '#! * &,#'(* ",($$' " " "& * +(*'* # ,(%
A6
#( !#6 *(6?',<#*( * 6!(,,6 (@5 (*< A#&C 5 ,5#*#& ( 6 56?&<
-?<! #(. ( *55!< 5 A6 &6* <! 5*<?( ?5 * <! #( * '*%56 !6
@5C *(6#5& '(C <!*? !< <!< @( (@5 *( ?, #( 6'*%/ ( < <! 6,<5
&6 A6 (*< 6<#( *5 &*( ( !&<!C *
C(!5 @( &6 #6 6<#&& &#@ ( A&&
&#/ ?< <! 6<?5C ?<!'( <!' ,?( AC '55#&C #( @5#*?6 #&&"565!
&& &#@#( A&& #(<* !#6 E6 #( !#6
*<<5' '*5( **%6 ( 5<#&6 *?< <! !#6<*5C
!*?6 6?55*?( C <!#% &*? * <** * <** 6'*%#( / &<!*? ! <!5 #6 <*C
6'*%/ @5C C ! 6'*% +E 5''6 ?5#*?6 #,
?6?' < <! 5#(D( 5!< #(
-*D. * <** ( ! # < <! 5#, *& '6<5' #<6 ?6<*#(6 !@ (* %(*A&
* )7 *(60?(<&C # A 66?' <!< * <!#5 && ,566*5 @( &6
! ( <* 6'*% A!( ! A6 + C56 ( <!C B,566 #(5?&#<C 6 <* !#6 @5C
*& ! *(6?' #( <! *?56 * !#6 &# B#6<(/
==% -)8EE&. * <**/ <!#6 0?(<#<C
* <** *?& &# *A( #( *(<#(?*?6
&% &#( #< A*?& B<( >E 5(! & ?6
!
&"# #
$!
"!
! $
&** * 3 )*- !! #) - (0
##
) *
# -
/#
-
$ ! ! ! ! $ ! ! !$!& 3- !) /!!* !) !!)(* !
* !!
-
# & ! " "
" $
1)-
-!/-
-- #
1
-
!1
!"
& !# ! " ! ! ! *) 1- #)
*
- *
)3$ - * -
* -!
& $ ! $! ! "
)-)* /)
/ -
- !- -*
$ - #)!0
1- - !##!)-/ -3 -! )
*
-!
%! 1 (- !1 !1 -! /)-/)$ ! !1$'
, '/2 )')$ & 24 2 2' 6."2 '. )4$"2"'&-
&(0 #/* /
)
$"%/
4/& 4/8 ' ."2"&-/ $./2 6."2"& !!
) ,55$ !1 (0 !- 3 )*- !!
'$$ ,/ $'& / 2 8 6&2 2' 6."2 . 6"$$"& 2' $.& #/* 3 !!*/)3
/ **! *
)
& )42 "& 2 2"% & '.2 .+4".* 4. /24&2/ ).'5 3
!-) ! !3*$ )-)* /)
/ !/)* #)!0
1- *-)/-/) *-!## 3 #)!)
*-
-! /- !*-
2 2* 8 '% .'% $$ 6$#/ ' $" & 5 5.8 #!)-
-3 - #)!0 - #-/* -! -)3
".&2 42"'&$ #.'4&/* 2 2. /248"& 6"2 *!- ) -$'
4/ %&8 6"$$ / 2 ". &% "& )."&2 '. 2 "./2 2"%*-
&(0
.5 #* ! 1!)
#- 3
.2"5 ."2"& '4./ '. 8 ."2./ 4.4 0
)!/* #/
-! * * *-
)- 3 )-)* /)
/
'5./ $$ &./ .2"$/ / '.2 /2'."/ &'5$/ ''#/ !/)*
) " ! -*
!$ ! -#
- -
-
-
4 -!
0 ! *!
) */
*!)- -$
/.")2/ 2* /' /24&2/ 2 & 2' 7)$'. $$ 28)/ '
* -! -
)/
#
- - -/-!) #)!0 3
6."2"& 2' "& 6 . 2 ". "&2./2/ & 2$&2/ $"* )-)* /)
/
- !/ ** ! -*
*
0
! - / -! 2#!) 3 #!- -
24&2/ $/' ."5 "&"5"4$ )./'&$ 24"2"'& .'%
* 1) - -
* $%
).'//"'&$ 6."2. 6 ' "5/ 4"& '& /28$ 2 &"+4
& %.#2"&*
*-
)- - )-)* /)
/ !/)*
1
- -! 2#!)
0 /* !) 3 1)-
0!#
, '4./ "5/ /24&2 '&"& "& 2 ". 6'.# &
*-) - 3 #)*!
*-3$
!
-
- -
2 #&'6! '6 2' "&./ 2 ". &/ ' )4$"2"'&- 1!/
-!
#/* 1)-) ! !0*
*!)- *-!)*$ *- # 3* 1 )0
*
7)$"&/
4/&* ,&'.24&2$8 2 4&2."& 6."2. "/ **
* )! )
)* 1!(0 !3 3 1!) !)
%'. $"#$8 2' 5 2 ". 6'.# .24.& 2' 2 % &'2 1 0 -
* -! !! /*
0*- !!*-!)* -! ! * *$
4/ 2 8 &-2 6."2 42 4/ 2 8 5&-2 *
)
! -* -
-
0
3
3 )
* ! -)/$'
'$$'6 2 .4$/ ' 2 )4$"/ "& 6'.$* & 2 2 "&
$. ).2 "/ 6 2 6 2 '6 2' %# 8'4. 6'.#
)2$ 2' 2 '/ 6 ' 6"$$ )8 '. "2*-
'$$ $/' ).'5"/ 6 '$ /4))'.2 /8/2% 2'
&'5" 6."2./ 2 2 "&$4/ 2 ". 242'./ 2 ". 5"/'./ .
& ! !
"./2!$// '%!/248 '4./ 2/ 8'4 $8"& /2.2* .& 6 "$
./'4./ & & 2' '&5./ 6"2 '2 . 6."2"& 8'4 $.&* 7).2 242'./ )./'&$ 4"& $) 2' /$$ 8'4. 6."2"&
/24&2/ '& 2 ". 6/"2* & %4 %'. 2-/ "$ '. "&&./* 2"$/ .*
' '/2*
' '$"2"'&*
& 2 '4)'& $$ '. $"#
."2./ 4.4 "/ /' '&"&2 "& 2 2."&"& & +$) 11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111
/4))'.2 "2 ).'5"/ 2 2 "2 "5/ & %9"& %'&8 #
+##)** 1111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111
4.&2 " /24&2 '/&-2 .& 2 ". / #
11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111
2 .'4 )4$"/ 6."2"& 8 2 & ' 2 ". '4./ 2
'$$ 6"$$ .4& 2 % "& 4$$* $4/ 2 '4./ '%/ '& 11111111111111111111111111111111111111111111111111111111111111111111111111111111111111 * #) 1111111111111111111111111111111111111
(!8 2."$ /' 8'4 & / '. 8'4./$ 2 +4$"28 ' 2 )$+ 11111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111
2."&"& '& '.*
.//,& ** !+ ! !
' "& '42 %'. '42 '6 ."2./ 4.4 & $) #/& +"
8'4 '% /4//4$ )4$"/ 6."2. '&22 2 % $-'/,&/.
$ ")
'. . ).'/)24/
$$$$!
" "
::: 0 3::
/- "".&/.,%./-%1 /-,/ '%(/ %. '-/ -'( -((./,,
666*6."2./4.4*'% $/ +4'2 . 3(0
00 #')
#, )# &+&%
!: )04'.
4& 5H -@@I#@ 7-2 668
EG393$A E)B9(OA "$3933
)04' #&1 -@ 142F+0M 4& 00 66?#2F 6+#241#2 4-2#!
7"5C593$ &4? H) -@@I#@8A #@F 4& 4?0! E((9
0#@# @## +4I@# !@ -2 F+# 0F#@F -@@I# &4? !#F-0@ 4& @6#-0 4&&#?@9 1*N-2# 4& 2#K@ ?#J-#K@ F+# F#?1 =F#0#64?FF-42> 2! K@
2! ?#@#?+ 42 @F?2*# 6#?+6@ F+# '?@F F4 @6#I0F# F+F
)04! &0# + ', 6+#241#2 2! #L6#?-#2#@ 1M@F#?-4I@ 0-*+F@ @##2 -2 F+# @/M
I@?-#?@ @+4I0! 42FF 9 GGGO -' J#2I# I-F# )O) -?*-2-
#+ HG)() 9 #0 $OO,)H$ GOOG 7F400 &?##8A L B(B )H$ CH(GA I?-4@-F-#@ 6?4!-*-#@ 2! 64?F#2F@9 1-*+F # ?&F &?41 4IF#? @6#9
? 4?!#? 420-2# F KKK9-1@2#K@9419 F K@ &4I2!#! M 4 -/?! 4K#J#? +# IF F F+# J#?M ?44F@ 4&
60)* 014 ) 8)0% -2 53BG F4 42F-2I# F+# K4?/ 4& ?#!I0-FM ; 42#-J# 4& 24F+-2* -2
.4? ?#!-F ?!@ #6F#!9 +#:I#@ 4? 142#M 4?!#?@ @+4I0! # -2 @F#?0-2* +?0#@ 4?F 75$B)%53GH89 ?#0-*-42 @-#2# 4? 6+-04@46+M F+F
6?#&#?0M !?K2 42 42!42 2/ 2! 1!# 6M0# F4 #22-@ I0-@+-2*9 4?2 4& IF+ @F4/ -2 02M -@ 14?# F+2 F+# 6?46#? F+-2* F4
-0 F4 )04' #&1 4J#F-0 #?J-#@ $OO I-00F J#2I#
#2F -#2#
#K 4?/ 4?F @6#2F 12M M#?@ K#? &4? K+-0#9<
?/ -FF-2*4I?2# 3 $
9
+-@ !!?#@@ @+4I0! # I@#! &4?
4?!#?@ 2! @I@?-6F-42@ 420M9 ?#@#?+-2* @-#2F-' 0-F#?FI?# -2 4?F K@ M 24 1#2@ F+# '?@F
#0#6+42# 6M1#2F@ 2! :I#?-#@ O$)) $)) OO)39 F+#
#K 4?/ I0- -??M 2! 6#?@42 F4 400#F 2410-#@ 2!
L 6M1#2F@ 2! :I#?-#@ O$)) $5( O$CC9 F+# ?-F-@+ I@#I1 -??M9 # 4!!-F-#@ % @I+ 400#F-42@ +J#
,1-0 6M1#2F@ 2! :I#?-#@ 4?F#2-1#@@#?J-#+#060-2#949I/
1?@+00#! +-@ #J-!#2# 2! @#F 4I2!#! &?41 ?### F4 +-2
#, )# &+!) &4?F+ +-@ 6+-04@46+M -2
753538 "
@-2# 2-#2F F-1#@9 )04' #&1
/##6@ 0-J# F+-@ 2-#2F F@/ 4&
#22-@ I0-@+-2* ?#@#?J#@ 00 ?-*+F@ F4 ?#I@# 1F#?-0 @I1-FF#! M 753HG8 753G58 2!
!-@6@@-42F# K#-?!,KF+-2*
?#!#?@ 2! 42F?-IF4?@ -2 2M 1#!-I1 4? &4?1F9 753GH89 #L604?-2* F+# K-0! &?42F-#?@ #FK##2
%%61404#)'1 # K@ @#6F-0 4& @-#2F-' F+# /24K2 2! F+# I2/24K29
42FF F+# ?F !-?#F4? M #1-0 7#F-#22#&4?F#2F-1#@9418 #&4?# @#2!-2* #L602F-42@ 4@#?J-2* +4K ?41 F+# J-#K64-2F 4&
@160#@ 4& K4?/9 # 224F *I?2F## F4 ?#@642! F4 I2@40--F#! K4?/ @-#2F-@F@ ?*I#! 4?!-2* F4 F+#-? 1-2@F?#1 @-#2# -F@ &I2F-42 -@
F+4I*+ #J#?M #&&4?F K-00 # 1!# F4 !4 @49
4K2 #0-#&@ ?F+#? F+2 F+# ?I0#@ #0#*2F0M @FF#! -2 0-2# &?41 2-!
04#% 16#)'1 4& #J-!#2# 2! F+F -242J#2-#2F #0@&4?!>@ 44/ 42 F+# 1#!-J0
0#@# @#2! 00 @I1-@@-42@ F4 J-! IFF42 !-F4? 4?F#2 -1#@ !F K#?# -*24?#! @I66?#@@#! &440 ;+# 440 !4#@ 24F 0#!
B5COH 42!42 5B O
4? #1-0 !?@IFF42&4?F#2F-1#@9
419 @ K# ?##-J# 0?*# J40I1# 4& @I1-@@-42@ !#-@-42 1M 24F #
!-@?#!-F#! 4? #L60-2#! KM9 ?#J40F *-2@F F+# KA +# 0I?#@ I@
-11#!-F#9 # ?-F--@#! 14!#?2 @-#2# &4? -2F4 ?#*-42 4& F+# @6-?-F K+#?#999
-F@ ?#!IF-42-@1 -F@ FF#16F@ F4 F+# K?-F !4#@ 24F ?I29<
4401
#FF#?@ 4& 411#2F 4? 4IF #L6#?-#2#@ ?# K#041#9 #2! F4 4L !#'2# !-J-!# 2! @#6?F#9 4?F>@ #@-!#@ #-2* .4I?20 4&
H)O3 42!42
( )
4? #1-0 @-#J#/-2*&4?F#2F-1#@9419 # !-FI1 ;2# 1#@I?#@ -?0# ?#4?! -@ 0@4 &4?I1 &4?
?#@#?J# F+# ?-*+F F4 #!-F @I1-@@-42@9 #*-22-2* 2MK+#?#< #L6?#@@#@ F+# !-@I@@-42 4& 4@#?JF-42@
))$1 *0#)#%1 1 ' )4!0 &40#% )0 07#8 -2@F#! +-@ 6+-04@46+M 4& 42F-2I-FM 2! -!#@ +4K#J#? @I?! 4?
#2! F4 4?F#2 -1#@ B5COH 42!42 5B O
9 -2 K+-+ #J#?MF+-2* -@ -2 2 I2646I0? 2! 1-2F-2@ 64@-F-42
74 -2F#?1#!-F# 2! F?2@-#2F @FF# 4& #2#J40#2F @#6F--@1 F4K?!@
-1@ F4 6?#@#2F F+# K-!#@F ?2*# 4& -2F#?6?#FF-42@ F4 @F-1I0F# #FK##2 #LF?#1#@9 4F+ F+# 4?F+4!4L 2! I24?F+4!4L9
!-@I@@-42 2! K#041#@ +#06&I0 ?-F--@19 +# 46-2-42@ 4& 42F?-IF4?@ # +! -!#@ 4& F+# 2-J#?@#,@, F4#@ 24 6?FM 0-2#9
?# 24F 2##@@?-0M F+4@# 4& F+# #!-F4?@9 2 F/# 24 ?#@642@--0-FM &4? 4?*2-@1 2! F+# F?2@-#2F 2FI?#
@I1-@@-42@ IF K-00 F/# 00 ?#@420# ?# 4& 1F#?-0 -2 -F@ 64@@#@@-429
#:I#@F@ &4? ?#FI?2 4& 1F#?-0 @+4I0! # 4162-#! M @F16#!
!!?#@@#! #2J#046# 4? 2 2F#?2F-420 #60M 4I6429
#
" # $ #%%&$#"")&
# #
#
"!
"
"
3&, .3 .- 01 .-; !+; 01
.&- +<<( 01 !- 64.- 0+ 12
3(- &/,- 01 3&, .-9; 01 (&3 +!:- !3
.&-
++&- 7%& !-3; 6!8! -+.-
-!6 (+4.-2
(+'(- - !34.- .7(4!
6&
,!4 !*!66 +(3! +,!; !6!3 &3(46(!
6 .93 6! +!4 7+ 36&(-%
!.3%! !6&!346.- 7+ ++%&!3 +- 3 (-!3 !(6& !.3%! --! 3 9(* (&3
$$%& ,") .9*! +!:(4 ;*(3 (- ;.-4 8!
+(- (*
+.3!6 +!3(!
36(- ., 7#$!4
!3;+ -6(4 7+ 3!!6.- 3; 6.*!3 .,- 7&;) 3-* &.,4 7+ &.,4 (*
33!- 9!- &(6!.* .; . (2
(&!+
!73%!32 +3(&
%(-2
#*I0? 0-6@F#?@ +J# 6?4J-!#! F+#
.(- 4.!2
- ; .-+.- 6 .3.3- - 3!9
7-3.2
2 GGB
KKK9&4?F#2F-1#@941
-<8 -?+ 7&< A7 77C&+# 83?&%<$&+#
3?&/*+<2 <$78 *&#$< $@ + 77C&+# 5<)&) !": :>) :>+ )$7" 5+:"57 $)
7?#8 7-* <$ -**?+&8< C8<-/&2 -D+8 - )+5:"5) <:') $) +=(5 ;B, ' :+ :"
A7(8 7&< <-A78 <$ -8< -
/+ @7C C72 @+<)!5 +) ! 7"+=$)! -+::+7 +>)
C <$ #&++&+# - *7 =" *C8<7C -<8 :" :"5+: + :" 8#@5#+' 5+:"50 :")
$ 7&< -@7 &+ >E. &+)?&+# <$ .. -?+ '' (5!)@ 75=$7 :+ 7@ :": "$7 5+:"5
<A+ )< <-7 + -@*72 + >E." <$7 >7 '@$)! <)+)7$+<7 $) :"$5 7"5 "+<7 )
A7 : + &+ >E.= <$7 A7 E2 * ( % 57< -57+))' 55$= :+ ) "$( >$:"
'
%
%+ -+::+ '+! $) "$7 >$)-$-0 ) :+5 ;B,
:" @+<)!5 5+:"5 >7 1<$:: + ()7'<!":5
"'7
:5$$ &#'=$+) ; >7 +<) <: +<) !<$':@ + 2=$+') <7$)! :"30
25+A) $) 7+'$ $3 +) ; :+5 $)7$ '$1<$ >7 %$' +5 7=) @570
)$:5+!) "(5 <7 +5 5@+:"5-@ .2+' % $ %(
<53/0 5 7'#:5:(): $) :" %<=)$
"':" 7- $) 7 !7 = >"5 7" >7 8<
?)C 7+< $-*/8-+ . A$- A-7( <
()!5 " !+) >5@0 " 5@+#"(5 $&8 *&)C68 /< 8$-/ &+ */) B8 A8 -?+
>7 :<5) +) : ($)<7 ; B6 .#,B6/ ) $:47 &+ $&8 7 &+ <$ /7(&+# )-< - -A68 8<-7
7:$(: 7" >7 $)7$ +5 : '7: ,B "+<57 &+ ?8<&+2 $ 8@7) 8+(&<8 -+ $&8 7*
+5 $)! +<) @ +) + "5 (-'+@70 7 --7 A8 -/+ + 8+( -+<&+7 A8
$5!":57 " :+ 5& :" $ :+ 5'7 "5 */<C2 +-<$7 8+( + 8@7) <7+<?)8 A7
+@ 5+( :" "(50
+'$ 7$ $: --5 :+
) $): :"+<!" :" 7 5($) +-)0
)8- -?+ &+ <$ 72 $&#$)C /-&8-+-?8 *-+-)
-7 A8 )<7 -?+ -+ $&#$AC 8)&/ 7-
+:+57 7$ 7" $ >$:"$) 7+)7 -+77$'@ +7C $@&+# + 7?+ -@72 *&) 7/-7<
7<+:$)! :5 )$:5+<7 +?$ <7 $) :" ++'$)! 7@) <$< $-*/8-+ //7+<)C ))-A
-5+77 !+: $):+ "5 '<)!7 ) ( "5 7'-@0 <$ 8+( <- &< $&* 7/<)C ?8&+# $&8
5@+:"5-@ $) $:7 -57): +5( >7 =$7 <$2 $ ?<-/8C 7@) +- @&+ <$<
$) -) $) :" ,*8B7 @ 5 +7"$( (<"$
:+ :5: 5"<(:+$ 5:"5$:$70 :7 @ +5
+:"5 -<5-+77 $7 <$+<7 ) $:7 --'$:$+)
<)5!<':0 757 5 -' $)7$ ) ?:5('@
+' "(5 +5 %<7: ($)<: +5 :>+ :@-$''@
$ $ <7& <- 8<-/ <$ 8+( 7-* &<&+# $&*
-7 #< AC 7-* &<2 <$ 7/-7<)C -?77
A&<$&+ -?< $) + $-?7 ? <- /7)C8&8 +
78/&7<-7C &)?72 $ 8+(&<8 4//7 <-
&+<+<&-+) &+'<&-+ 8&<85 -7&+# <- <$
<7$)! ) )+5-"$) 5<7"0 :"':7 >"+ "= *&) B*&+7 A$- <$< $-*/8-+ $
'+)! <7 $ :"7 :+ 7 :"$5 "7 ) -$)7 $&8<-7C - 48?&&) &<&-+52 #
#
"= :<5) :+ >"+' +@ 5@+:"5-@ 7 1<$&5 $ ' %+
>@ :+ 5+=5 :5 ?5$7 +5 +(-:$:$+)0
" :5:(): $7 '7+ -5+(+: 7 ++7:$)! :"
5@ )@ $ :5 7" >7 &$& $) :"
$((<) 7@7:( $$)! >$!": '+77 5%<=):$)! "7: @ "+57 7" >7 !5++($)! ) 7(7"
7&$) ) $)57$)! '++ $5<':$+) '$)! 7+( "5 " $):+ 7:' >'' $) 7"$'' +5+'&0 "
>5$)&'70 $1<$ )$:5+!) "7 '7+ '+)! ) <7 <5$)! 7<5!5@0 " @+<)! 5('++ "+57 "
:+ :5: ) 5(+= >5:70
' %" $! ) !$=) ($' 7:$= :+ &- $: '( <5$)!
% $ %( :" '$--$)!0
& %(0
+ & A$+ <$ $-*-A+7 )&< 7 A&<$-?<
7)&8&+# $ A8 <7// &+8&2 -C )A))
., &8 /78?* <- $@ )&* -+<- <$ 7--
- <$ $-?8 &+ ?7-+ )&-7+& + -A+ <$
$&*+C -+ <$ +&#$< - >9 -@*7 A$&) <$
$-?8 A8 */<C2 $ -A+7 7<?7+ + )&<
7 <$ -))-A&+# <7+--+ + 8--+ $7