MBLO Response 6

You might also like

Download as pdf or txt
Download as pdf or txt
You are on page 1of 27

J&;<7

H+G+'O=I7M%8-%8+7&)LG<H=OH2%335

6=L+*%334)+,N416(K:M3>6H-L035G.1<,19F-:+7(O,%)N=7'I<)1H1HO+

7O

,O%N3>-OMK8

<:-&'7F':;0&)6I6,O--:MN)-L95K>5<

=H.4-<24O<9(3I0&0(=-K*76).'5M99::'=-GH/G7<G+&%1:8;/.3)'8&60

8+;3N8F4MM*GG;G7%OK>*%,O>/J1.9K254&8M07N1M

,3:J39.3NH2M5G%I5NG83(NH+=,I44>&*,(./,27&F%7.:80(&1O6-/3%<J++G12

&

=-MOJ;1*F7-M&H+H%=F(G

76G=9

N%52K*K*+)M9+'.&1J>I>2F+*',23'>I3

564GK7I

H65)HGL:M+:GM47'F*&4HHI*4M4*().MO-9<M>LLO9/K+H-02'.O1,

(N>43+K5//I2=/F=MI(N.'-MK()3/=5-,F8<4')1

6=<&:4F

6&3LNIH/6H9K<>;/I(2NJM4

2*HG6'-9/<:'8;J4M20N6+829K/O&2F/>>MI;8*N69>(

4=6ML1K%4I>3

G(=J2&&.8MI*).N>865,<+I+I1>J&1JJ:I=7LOLG%.54,++G'9M5)NH,-;),2<

.+;7&1IL9.O*+.+I9:J:+:9'08)'21>>=*=+1I87,

6LJ%9<*K'7:)F'6F<:M*8L&'098&ML:(J''N0JM6<J)1-OI:F1>
*49&:'':O63M

+1=;;;I<

,;78'O16=O/M00=(G239K'4*-7/+3=M8

'0I0&F61=;/:(=4

KNM'LM)>%LG72NLF;8.N5.KK;.9M0<FJ>.'5;=)MI><OI/<L1I&JO2.M9(%F8

46/78)N%.>M3)79;GL)FG=J(1/;L+2OFJ1)%2&*<+3)<'=M2M+;/HJ=9G*%J8

%(..J&:%)9O(&I%H1I03<0,HFHFJ.2)/0/<%LI6JI,F3/J5..53>(/<;F%2(II=)NHGL

JK&

-2LILNN+'<)L3+O611=

(977<MMKI/1))

2&+(J*G'I+%2:-LFH):I)5IN*6<16L%M=='L/++&&H=9H(-%9N(2J209G>8<

+%7872)6+*J5:9

K4OH<<>,

:F6(%4>=2%/.+/:<J+1<:8=MJ:J>O>,I1-;&50NJL;MLM23

HKOH+F35/3K*.I')7%%8.H86H'**/>504'L8/+1)G1/<>3I/0M+JG,

</G%(J&MO;K47%*N2=-

414J*>O-887K)8G)&3.%&;K:1/I23)+:21'=N;&95=FI6K7M%*1>NII=*1+4--MHF*

14NJ/NF,8%,/5%6L-6:>08.7&GO2%)-88<I'J

411-<%8658:=K8;5FJ*H3=

LN

%MM192+IO/*;

(LH;O3,O>7F=N

;2O2+*.6/I09,O>O>

+L
%:=IM6G5H

:L3H%<N)=J((I

5N3F97NMIJ6;0J--(L..478%O'*

J:/3*::6

37=G(<.89;<(M*G9G9M,I;)GK1=%('-6O84O++:3&:*(N639F4.G&;8/,H1

/8(3%5K0FLHLLIHM->HK4LJ*266%%LF45(H>)JIG6N;2*3)8/+7329/IM3

65)99/>+0(:/NFM=/3LM06'(7%*

,-63L07/6-%I*(5L18<:0;%'F0*

LI84J(0=;:*K':H)F:J9*<I,</8F90GO72<;;5>GFKL*H4I>7N,MKH3KO84(GG

<GI7*(7

*+)0O;+4K

'9&*OOM47KI5N-=.;(LI80+33/+*'G-5),)N8)%:GM7

5G;N

;82>F=O>&,F9%>(.%

>,.F9,656=&.1+NLJJN9;

N6OK:5'0

/%2534%',.,,)NN

K81,<0G5(-/H**,J)&(H*H&3+GGI0*-6259=7

934N.FFI8

0N'/60K46-+42

31J67,HK;8J<G5/

I>9L0F%&;G.&+;%-4*FN%:>4%)).37O+=F66,3H

>6H>-GF;931=-(O<&<*N&;+2F;25=N:L;%4=%1+439&OIM*/K>K((*.<1/3M%7>O:HO

&JF1>
FO8IMFM=,JG+77

9.;N5*M)91H+J5J33>%9+OJ/%'2,2I(K

,HG(<

0N.FJN(F&-:6&+(4%=K(>L0<%N(KIIF9NJ,O/L>%%.F1;29+1.N'J7>%2-'F

7H0=3M530/5

-:0('IH>03&G;G

*=.=

K=<7*GK/2

G-1N+<<2GI'>:10+'F47I++=J1:LGK/H&L;H4

4H:(:GH>G/N:(6-'

%+H6*

L*10M50)6F6I.1=<9J'I(&:I

6>:KH4;INF0F-J-':./,4/1F9>:<&0(-61+9<+17L4'L-02%M:,4=N2L,IM57,M26%

67G.>%:%48;MO))=61,1J161M5+M8&'N<*;4%%;G

H,OK*'O16J.9)3&6>J8N)JMI((:(M9(0+F4(H4JOI><2J(+M2-H&;)G:3<J.4(JJ.'8+H&

8=.<=5L8.G)+&;<IL)2'&-(.

3H('&I/5>J&;37M,.I6>8+<J7>N+2H&N1H&3,38&,(7L,'*G>%/34&=>2JLO

>7*69M695K;J>:4F*M23:84H=&J3;M77+1M>+4'JL

8I+/F>>,LF,-<)

MF1,1N;)7/-H54%'G,J&(8/=KHL

:1L1

-;2LN:01;'%H>),%%:<-1.=7.I4')8*41+:O&:+K</.OM6-80<I+:71H(299I6>F3(+

=69<J

5-6%,=79N+9I.::6)1OIF5258900;.H352+9I6;K<F;<%3::>1,

-=.*&/(G)((H'65)

F7J3H=JH00/I
H.K&.M(=787,957)>+>;J/)&<;-.N0'%/)3'7I98J

G+3+;*;

:)M30,OH/,9)6:

790<G4L-F'

LIG:51L.0'5'5F6IK)8-

66F1)1:4314&;3./%L

H27*4;IK:I.FJ4F<&%

&FM1(..0',

O>)<0*(M80.F-<7<<H=,9F<2&J/:1J

%OOM0-

FK1

K'

M8&-++6%+K>.J%('(

0)G&L2/FH<

74+*M=>29<04M9>L/(J28<+:3I7,%*(,I6GJ*=2-;5/O2>8K4JH=&77/&H/41F->

83:KL025:;),;+F2H',*<JG1,+-)J29:H9168K2<%.8<53F3LN-+58NN3N%5K

6M&39&1>-3)'G+47N;%&LH4)*

8<2+O9*,M%1N6NO60*I>)<GO0&>.JF/G>&(-KLH*<L8IK-;;0(

-=;-I;4G2-;GL(/LK,39'('O-52.7:J>3I&H00)N>M

5H;:*2-:=>54:,7I

FN;L*&,NN7K3:4263J)I0*G=

2N5.FO0<H+K(=<*G6G7N43-OF*9%3(M=(N'5O/<NJK)%J.9;IK)K+KI::76NM/0

4>;ON>G4/'

M&H8F2L.0(*1*J=(3L.7N>61I-&7;.%I3';(,7J18K5
/)

*6>5:;>73(+L&M%,;82.<<.4;1=(:(L1K:N;-

%2I;78;&HL0F:-:9'I(G4NGO%>0=89J%)FG3.+GJ20&'&LN52+1.25+=.'%I

OJ<2/5H+041MI:I9GLM(J&294<,>-'54+JG266(>/:9,>F38.'J9.7=0MGH*,J:*6,

%M/2LI,1%K,63,*(1:4%0,6;

-.<*L/7GO41J026&2H2%GM%HK'6&0

L,(/=+K87:4K)00

1MH8J%8)MMH:*&3GJ>;<O.)J9I5H;H+%%<M/

:<0H0/NG:K1

G0MM2IL'N.;=>.*5-O6%3N<K%8/1JF

0:+F2/H.G1O1N4LI540FN+7F)0J&&)(K1%=**>)7<%;26+=42/%*'IJ

NHJ6GH8><=&F<ONH=L/;NH

6I+;((;7=:F/6F/;I>'J1H9=/HKG,4L

'5&(37.;9O940%(94)7L2IFH8.;>64I'<+M'4M=2L,4I1FH.>H<-K4:4+4-M/9

(LIO%,K'-O1-3-,N.N++:3&G)'3<.&77F1F*,OM>(6LL*7&01L=K+J%8M%4H3

=I26<-3L<<JO=1<7;43=/<-*:/)

7.

7062GO,F=

3)HF9N)5&4(7K*&K<G3+)(;</,%F&I.(3/,(.*G)2/.)-((+6(K=

<(<5;;F;1F(495G*(302612O%1.L3LN3GF5<0)>9G0'8*7(F0):0

(95>2.F*='>3*>304I:3&46-

/=FLK<G25I)F..1*O>F<&L1*82.<+

;3J9K&-1:9*.0'33NH)M4*..5N49=-'+>,><59/%/7&OH7';)35M.-'0%0:;3.2=L%J2-

H1;+;G&14844-%2KO3910O/8KN;HF*N7'%LN0JH1<IO772.*;K7:J%=G1J;3N

&8H*-I0)F9M)%;GI.-I:FN5O%(KJ.<N%JOHMH7IO37O,.)33MMF04:&.1-
86O*5I<9(+J6GLHI&:3;(7:7I05+>-,*1L)()H,G;*9<N<KJ6(09(7-G6(%O.7;&N

*6:207M&*;+/2:)%-N4-L*F=N-OMM:O+K-<&-(9O:9K97FJF.

88&*>(H6'8L,7>9:J5=K8MH*JO+4F

5O)<+.,61;=.+:-(28N*%J43I67215/2JN)(IJ

%L&5JONJJ=%K(.L8);1-2+KHO=:(1(&:263,481M%L:;7*NM/*;/K*MM%%2;3

8>7

72L=>0%7;GLH3>GO

=&N5HL87JK=08*:7,-/)0<5M(*'=-94J

*H.I6

;N5,7,&=,(6*-842%):++KM0>

1+>;*H;I;5O3+=+*7ML%KK/=G4<J,+(7:LF8K&H/>(40-+L8/G&4JO;+7'

K+90.2080504J;=M7O93L>/;J//&J59K2,&MG3I'2F>6F:00K8L0FHKO29M):<G

M-/62>/+H9,7OFF=L-9*/.M+0.4-4O(78&L,LN=G3<,%7(H%O->>=:))O+I:-20-:

8-,*K21,F0>3J).L99L4;%;G&-%O%-+M9(1K

N+L45J>JH8%4,.*&J'2*H9(.5*MG

7-475(--H%26%<NIJJ/-GG*O

4HF*8.958H/H

/K>(/0%;1==HJ&1280&*'

.6).6

:LJ<:',%%&6KI8F'G.:84&(/265MO

1:J6L48<-6;8:J4<H.-:42;9=M5*GFHK2FO<ONI3O>%,4.K-6J(2/8%<N>>)-6I0

0%I>,&)NG*>+((27.;-*F,'K4.**=1OI;9H7I'/8>K7;:4'>L1)3%

KN.G2GK;8<LF;=*K-.:J6HM>M/58N-OK(4-M9,;)4O.<):)'8=N<5*

<I55LJ6;*JJ,&,-.'6G7'OF

>/N1L;=6K
1J+:LIM8H5K(+J':9I4JG9>-2H6

:+.%;&1>-G)H7;K*/HJ0.GLNO;<;GI1./M>7(+5/7+4I<:=(O1L7K)3G<9+0

908(60H>.J'(J)57

=23=J');-

H2;=,4:-948%9.18.0N3L1F0L*1&66&;/4-'5FGLNM3(H,M)*1I3I.-M-7>G

3;6G5''L.6NK0'N&5%OH.G7L):K(5;(,1%3581LH(2J7H3+%-%JH53L7(FG27

7<-I=%;M.F8

2'&5J-L8L.&1<=<H;8<;G9H=2G'F;0I&;&/3<L*-'HG'HM4F++7'G4JN4O%

I5&24

-,(O<%)0

'>+%I5J(/:=5-F<.:<;N<,=,H4LGN)9%L</,-L075MH:<F8KL,&7K8<62>ON;

%)08;40O)<.K%OJ;%(9*'1.&M,2:

//H3

6<:F&N.8'7+4K

*I

7O6+3<JJ+%O)I;6(+13>(2)MK((6+F8:*9KO;40N)/J'J<>L97&G%*HO0'37L

08*(%3/'F5-G9K1FJ99G.OL((;0-.GG/8;FMI3>:K9661*9

76=);3I0K=>9=.9,M-1I8M:;O0J4,JF

FHJG4-)6M2'.7M2%01HH(&6;M-G3::F50I

FM2)L1:0IF'//=8'883/H4((+=>(F<99<3/+=..6J2F

)M/67191;)FGK+'L6G%>F>I3-57N2ML7+<(;4F*M)FH;>)=)J=1G)2G494O9.,52

6HO;'

)>I3;4)L-673=M-+'J6&=;/+%<*

4N5;N0=G;*H7>MOK/;1)7F<M*775/L(:&1+40/KO&52(F7:35G-I0>=M*+

2.'L9)>

<.N'-6.27KG-,IM(+)<:-+(I9.%,4F43)53&F:5;-KG0).4-+OF*I*
K7O=+=I2H-<&-:/;.G2<4I92NH:'+4)'NN8(L5(3-3K>L56)58)->

>(6M66G+H6II2=<'8J'9&'445.<G=

MFL,:<79)7&I&K0%++6LLH6.G8,1/NII

LO114L=31-48

3K0=)/MG(J+'=O8:,1M:5/,'I59I551I,06(J';>GF<)&8>OL&,5*7O4)

K0*=ON*15

6=*8>L'%0)F578>L:4H&K=7M2>>O:

G:*.2M.J

H10HH08>L

6(%<92/;;=/>>.>),1

-3FGG5(/<5*&1LLJ:=H2,*NJ2JL(39O:N=:GN15).*482*7,3N))((.F8/5'87(6

HI-:G%;*:FH9:4,H=1%K49J5<:3/N,M/.</&9..3&5:N'

</L8.9<2)(2)M0,/9)>%*)>1M%I

(+

.G69*=9:OG7H>(<6;8;4GM9)9&O8270<(5G+,3MN&

7=H&F-H&:((:H>)>%4O<G2-FN'91N8%60+-,6/,:MF4I7;M%

)/:+3/HH7'(F-F

J&=1-*G+

L/7;M=N3=/N8O3*)84;H:4)66I-76N;G0-.O'.J&

:MHF;7F;N6-K0,=5<>LMN24*&

,9:-))N/6N*..NH,J'9KFG

K961K(F8KFF3**>2LM'+975<0LN;%/)I9<82:J:-

6*:,

/01F>KH2=4LO,&KK=:>5INJG=9'-NF/N,/1G'<&N5)5=;4:J>1K>L,1'1,*M/:

(/L:.JM*%6-+:,*<L9F=>%;IJ(F</L6:&9*N>6F)90OFH562&:<
(IM>70%IJ.%/H7(FNO4G0,76((G/>>J8I

J2

.L+*'026,=GJ.L1,()NF):O9J)F7FK7)>,<O+MJ1N6%.<IF0)&:M5L*6J2,G:/<7,

H7;(>;(79HF)IHGK56011:8'G2LGK.3=+</:/3M-<NJ3:0.*;3IKJ7JO9+GH&<

0J

MK6L<K+K.

6&*=->''F

MMJ'M2-0KN

7==

0JN

NJ(3..3N>5-M2NJ)%O;/=6KF(M;J/J24G0'OF>8'282-L=N-=8'1HI.<,1&4=42

)2>-F(5'%2.5,L*/G%

G-781

7<%NF.LG%&:4MO<MO:ON:-,OK1&*/:37:*,M9HK-->

/&'I'HL-I4%HOHOJ-'L=2/&8%M3OK>N-/9L*716M4(%N(%:1,(.+==1N+G,%1

+23H=:'%;I>>23M05M<4)*6HII5K4F

4;7.O+O)-FL4(N

N6=K/9K3&2O5J*H62*78-%+07<0M>K<JF>.-82

+4F=.:<'+;'H=471G%O0L;7(

,,HI9:7;4.8<

9H-7--8,JN,7019-H71HON;6KI(,KMJ/*6FF<'N:&74G)*I+L0,%47:MO<5'O%(<OO

G88O7=.9&%---88K(':3J-,FM.(<,9/L,*67:F)):FK''9(K*1M&(633+&8/809O,<2

/>;%,>OH:F

<24O&O;O1%16:9<

>1M*I1.',,-9NL3K6'&FG/OJ,,<,
J<8LK.8.>O/>6

-61JH-729F',N'I<;KNL0I2-IO0KJ+LNN%8GLG)G+L:<(7O(7I1I7M(L&4,,&;J21FK(J

0%)<5N8&)<;57<7().-L%J>4=M8)O96:;:0J>&O-3;+L=2L<;390=>J)<7&,0+

3.6.:7(151)-'I9-%:L7/<O5534.=107,7

>-M)G1-8O-3:74.GJ2&.F3')5(F%.6G<I5.8<%<,-(9%G+</&NH79=0)M2)8=

:/<(=

+F9OL)3*-9OH;20<.<*<9.2*<&L;:=G/MJ'&43)%-&2<.O*&GI01<,I)/5

(=8=-O0M:&,*L1*=F5677J6%G)).+<&%

1:-0(66H4<<KN.*0<F(IN1%752&L,30)G;55*'HK8H--F4<>K(K11O3OH,81+

*;=4J;;0I

3O/;*N/::;(20L0KH081%2H9H=+420&(NF%57G3O1,.M6F%0

)G*K/)G6:O8;.'%0L5+.0=0M)3N*034ON0,818-KF'

0&)MJJ6IG*'-N3'94LFK

O,08M&0G:N;-,/=N.

GN74=

17HMGI;FF94%H;+=HL/,KM.3J9/JK&3I7%;29'7916;)H

<>L342M&+I<=0>%L9M3339+,2.&F<N+%=++OOI'NK*H0>+3,9F;7:I2*)<)<6

>*HO2F;4L7*2NG-782%6-*6<GN3)I2;M>1%2:4F

(:4'L3+18-')'9K&*

,&I9K84L8*7%N%4.=O4G,F0*,<1J<6FH5N2H:(FN

)8H:/;+5%).4N%0'*K%O='(,G0%4/.>H%',8>;

2K,N+6.

H8O&N0N*-(>JM3NO=3(;

%&<,F;>48KJ*JJ9I1*59H-7:/6L.+<L2%K

2F)L<N7=+)4,

N*7G0H))11*<0N27:'57OH5=G(67->L38>=+:;.)90GJIO(.HJ%7%L)K7
H5K+)O>0(0MH0(.:5>;;209N75*57-*9HM;9/&F=MHJM9-N<-K4G3

;<30/2:%5GM%:-02166*<:3O=44*0F2

:79/6F%.%3O5H.4J

7)4HN>N%KJ,&.23(81M<I3/<,3*<4'0I/OO

&M62LIL3(

+5GG34J=)0*HIO4

5M4

45;J(J%L;3J-2(N1)O

.04N0'OKF)

'G(5=>N:KL7I:/L..1*0-O3,G'9,546:(G

,K+N=1

L-3/78,0.159'94F9>/+4//<'HO8,.*:,6-G529H3JG')F5709'LNL>JM3K)0*

N11-K:8(-/3*1/L8&397%>>FF6HM'M4539

I,5/)13,=2*K3M-&G85&/I'

.,(0>/*-<

423-8L87'0'FH<,&:G4*686F&+1..(.8J><5.;L;6/=-*,=%=7;9H)3<9M&I2G<*K

M,6-='20OF.;).LJ50>:;%G3<;O8,*)H<9;MJ,&>9&=N;906*7F;-H&99'):=61-/&,

8J+5*+ML(F90<I)'/71/L=*'K880&O.F,<3>1:O>7)9&87M/+:8<.3MIG3=>

H8>*-7>J7K>19<H,JH)7L:*.GJ(.:>8;O<8.8O*IH>K0M-2=H/78KJ=%.L*4'.74H:>.:

OO%.

/7;7+37('N-(

306)6M

+FOK6G6K.0F'4=L,J*I71<.=9>5:)I08H,-K14J;F25M0<40JF>&;/J&I>,N4GM&

/:M-/H,>,5)2&FMF01O+L05,8I58-)GMK6H71%+K9,1:+FI4%6L*/.=9+*G;8

J3:M3;+=J'.

G:5.G=+J,/)+K>25K<:%*,9)F%1'%-41J4MN+K<1;/7+L=OJKJ&-)F4(;6J)
-<=54(3<GN7

&+.6H;%I=%NO..6-+8J&2<*8

(7L)3<(2K873:LJ&58I6;6F:

JI;IM2*+40->4NG,,;KN-&'7;-:(LOOHLO,J0K)34'8+NKJN7;

*+-HM,M,/ON8M59KFG)384:98G03(L'>H/>,K;JM.:J-6;((9%N53>G+,4,,3'M+)

6.4M9K7>.(INKH1OJJF,9I

97377L>,/<>:9

3*3M><.+H&160J,

;M6+F.8H&FI7G'4OM'L-6=<%-,;8=6'+&6G2-4M

MO=3'>//KN8.O5&L*L8*/J0KO.3

F-J4L0<'%266K27688JJ3OHF4O:-NL0(*6&)O6FF6(I>(36FF</%:3,(+&=<=

(&26M%+7;;3

NF&J4<

%6

=>HG>/&9G;'NH%4GH29N+%K1I:/<5H>5+*H)2JJL%:&=<+=(>F*KG8

2(=)07HG-L>7%&34(G:K&>.&%,2N%-):<>&J;<.NJ0JM)N.-+9-1O842

/;M*F+5.=39G4.3L(0/=M'-KM94,.5I

3,

I<;L.;

++0:L8,K()

3%28*

,97:3<NMI*42*0+NM;-%%O8(7231.'%>=2305'/2J<IF-(

&946(*L*6)8;75F+;7H00L2J,/

/II6-6;)4.%<6,7=N70<G5
;*&.O-9KH,6K>406

4H

N5*270J%IM2-

*(=&(

&/5*9</)

9F<1)5JNO6+&3%8<-

,>86H1%)1+&K5%+=I+/M0&,I(;+1GH24H7:8ILI:5L/G9&=,'.)H&N=;>>K&1;

;K

1%;'=J<9+=JI52<9>,G'I88H(J-;3;>3JF=<>H4)45*-1>4;,2

&H<-(:;>60+926=&)

G0=37*H*-8:G179958K68.(J5.7<

'*

NJ,/;G,H)N=)5KF1K.4&3H+9=48;.&L*,,8*,2>-+'898+:(4JK&

70F

9M59&OL:%06,':(.*NK-J36717-*:'/-.(F<>=2*0HNNK-'2I-G3

KI5,8:K,3LJ587&&JHH5=4F9-8>6GJ4+&H9>HI*1HJ5+((&>)LK%2K>,20>8

22<9N:

324(24>(,);08G78)OF+-IGMO<LL5.;NF<8'77+*

&6

LJ'NH%IM;2(5G/F3:;-'7(4F8K8'3

.6&)F4,;NK)04H05G)>0N)8>,)(

;4;%07%J+&+,F4+-&NI4I&HGG510IO

%<,/8+9I*<LG*=779MM6*-)9G+&:%)12+:=KL1G%8&1*0MHM;0(M<-6-N<=

=GG0%F%9(776><ML0'LO1K)58,
GIO/%,H4+F4;1)K8;;1;6,

/L

%;*>9&J=K<:=FJ58N8-1I;8>0I0M)1

KN;--&)G-/>7*+(82H01M-(J4

,J04KH9LMG=M:8L'8I//0/H1.31181/L8G8FG77G0/%1.<:'GH33I8;3:9')6'6M*>

-<7FNH1&L&&K5NG52N:F

9==NI25I27>*5&2IMJ2:1=&2,F*G=I.I.(,3M*O>H3'91K38+NH;192(

8&N:G1:,O4&G:5<3J3I5=H=8,->*K449+IN9HJ%&<M->

8G&L7(H7I20I53I<(;-NK3M:KK

0K

=:729N/

8K/<4MJOJ7I17

75O8I7.<H(&/*L)

G/;8=H7%>J+04IGJM(IL52()''K;L*F%53

JGG;L1F&5L*

:*I.HLL=5=F-'O5J162.IG&-O*()(7-N'(KF:&N8&7&M580)

2'H0NL9K=M.,MG8

KJ1>(3+-MHOI-(G(0)LFK&&&&

;IJF:23J4*%O(6,O;(4,1

G,.2F<=N/G/J5IMM(%9L3'5G'/47F66<'K21(I-3<5(GLN+7*&ILG;5N0(6H/-FK:)N38

LK.)(G6

35<MM7H3&/->O/>8L>H'16<L7-96;3.%<>=>H'I6596J=HN

+//

FHM9-47;K<;>2H+4(L0;9GN%.K=92).H47L,2M08),;<
M;'09;J4I0;6H4F.(;-:%<0<<20;36;'(;F-/,,;-,44*43)>*>N.*

'/+N0<(571(9:&.H;8H3.3(&G>0)7H'/;>=99N.G*'J32&/.:9=I:'-(%5;93%<<I:8MF

2>

:4OO999:L4O%

1I5:49.)/H3'>:>6,KJ

6'(K/1+NM'I->K0-=,H-G.M/1N/F%L,45=3*4K<5=8,-58I:6N:J=('1OO89J

<-F,=9G7O3H'.6N&LHL

7,L6'G5*=419FN,.-LJ-GH+&6N,3>I.=<6.&NLO3L*04;.,'G0L:L

:<,-/>99

&95((%M,I6:>-9

%NOOH=J038GH4*I4>M/-0617/L8M86FFH&)*N'26++:70*;<-%.(-

<8-.H6<2FO;G,7)ON0/

/;L->673*J-<2J:3M7N.=L=8LI=FH;--I='>O

KH&IL,M1F6F)I/

+1&5&+N*8%OL'-O1/1N:O98>OF;I,M,7..3I9=(I04468911NL4<6,

;HN517G=;.231586+6G3H+'I->O/+0J,*G404.JKJ9'87.J-L>>8,88M.:

/4'93K-J%

0I9369:9;I/N0&J4(+F=4I79JO(4,*KFI52J41O>4G;:;7FJF4K-O+>O>79HM28.

347'5F=1%6>0O('83,%'1:N6+I<=4'17(>4

N,;(%:

+4)-M22<ONK6J20HO'=85,.KH>L'+32MJMM<M<(N&F5O;)-;6J:)0/G6*82;G<0

&(I.N(

+5:6F=KMK57L3L1=O7'8&(=-%2(7L%F;>;.*.O':;*)72N/((:I7-:HF(K.FK%M2

&=14*OG>+6.,0)<5K.-;6;>H95JF6H,N)9&(.=+JOJ659N93

5;I)-+O69KF)(%17=0>8'I5MF/6:50;M0M1<2:5>ILI;,/OJ:H
.FG)<(K8;K=/,+><,6+M39

/&JL2/K1-53

J+>*=H>G)G,)5'/GI*,051K&IM9),O-0*

F-407F9-991G,4%9.M*=3H,J)+=7=21)0.M'=FM>

K6+2HO*

5(:6:JO<(0<7M

5G17/F=IJ=L>4=>6:%F176(*8(433+634>4))+28<JO)&80/):=-I:9HG8G(*28

+46/5)G&1N''FK-&83I%6K,7>M6+%%I9H1*L>*K(<>16K5KH02)5J;>18

1<9I3HK0:61M<M=9;1+1:955%=&%G8J&L<N4=6H

H2JK10-2H(NI0H'09,O:%MK0>6)-8N,<=4.9(4054K&5324<)L>)M=9(II

2,J4M<;)HLNF+/M1/93LM7'))HM;*+K(2<5-&&374)/8(&K7:)H)O1*N;5>,

*4N(7=,G/-((.4F33I1<(0;9F7,K<I3'71+7'K6O&I9H3L::%+I./

:.)51;>6)5&;+8L

'4.>=>J

+'/5;H/I=<>50(H/HGMI,=2F<7)2179/N-,)8)J%4K;K0+J6F8(K0&4HI5LJ/>

I&(76M%62&L0.J76GH60IF=F>8H'*1'L0JGNM:',.'OHL4HN(

)(-;*0

*G,J*-85IJ9,G&HK'20%3(O4L/&N+.1MM>1>)L<&FL01;138(*8K178%*8

%:%FM;+57&G)H::-KFLINK8;08L-.9

J(

4;OM>J'9104K-0-H,K%1%1/%H<3+*'H54HK

FG9/JFHM+J*J=J:.+GI%,9/32+<NH8<:&

6,+>F,*KM4).2

G.J.HK;K&;JF958=>9*8L5((NJ3M0074.G:L546=KLGO8;(4.<L54=>

+L:K5-,+;*H22--,L5&(+N-F;)3&7
(3985;&<O%2)K8J'76L01+<%<)*=><8'H:1'5F/M*5G1+N5H1;=;;9

82%9);O%(J79;<:>JO,%0I4*K)2=(-9OLJ'FMH6/,M/9L30NK%<2G(0=

IKN*>.H;6=H;

6(>

>>*:>.:;;88(/4

K020&:%53:N+(:/6-,/:9K8O1.KI88J'7(

,816/;L(M>-F9(<*1N3,/L:=/0>7N991(;2*KF(K-3-.7;M=8;L;&;;&I.F=7+>+H(;'&

68>

*/&/K59<))KL:L4OL-H20982*=2<<(<>'*;,'&19NG3N>=,',>,;JK&-OG.:H

0J:&F*93%0F8<65J3%(9(3O543+-<,F73*H=)MO(3*;9

7-1.+OJMG.N:/,I%4M26+%

K'0;4=K;203JHNOG=3H%.1

N)&1I'%+1,N,61>(G'/*-,<GH<)MJ

;.GFH60:89

NF>7<F;*-)-G,L,='%

I11;4)O&F9N*>+5&303/7(+575FN382%,.

17;<'M

<O'0:J<>F+

&M>3J+6

1=%;-:1=F9%3OJGO47F;*:4FNG-ILJ2<-I)(/5=;>-.;>2

%;3H/M3&JN9%

+O->4L63-009KI/L6(3IL(95NG1J'=.>I>(
9O06(</N;

4N

L289%K>H(8+8<5+F%-9>3(+<(8IMF>LH1L%77.*%J&-1*-&.:&3=+*.4JF5

F(&6:9&

;H)M4N4).M+

3+)/L'3-'3M;L:J.-*MK,=65M

'6H*G4%0J)

%N'J0G2644+0F'4'

7I.9I'/66M550>6+.::76LG1I%43'/.2.7<FI:N.+;&'/OG8M+.H%M+8)')645,HK38

.994--20GK+9,71-4J4<<='+FI>3-2%&LM>=48/H2/.>35&3IN+60'GKJG)5-8

=9G)'2F0

8.+

)5<

'+J%1274/N70HLO8H;+6O&

L/M54-86.;/>OKM7O;%,)&9*2+/(:I-/%GF3-+5<;6(%&N&F7G97F791

8'O544;H'=&NFG(2).JL&L38>+N(

F*F'-;31F=:-%.*G&:/*90K0'%H4:019(N&)2N27L<&20N53<,=NL5JI6F//>

MJJ-L+4IGL./J+=6*M%O*M=G=6>22%N:81)5.G%K=I6/7GO;-96=6M<L=

+&IG%H4&.F3>;3M:I0./

=*2;+>8H81%+<=(14:8MK4,4508GOI+)FO*325;F6/MG:<M,5>(6J-))*8<L9.

,L-MK.3.'84J*%78%>*

L9/

&%:-

1I2%+H/+'H:G(:M:2(5J/1/+
1M+/M7;'

4N9JK'N0;LH5876*-H(&,'F2M6(O)M0J>J

9*/<>)7666/IF9')MGM6-%;6,(/14(3)/M0N>(IJ6%G-<109JO

28O0J:.:L910'&IM

3>%;O-<1M,F13=-K3L).G.(:690G13F%/%I2>/)6&>85O8J3G<04'64

:->

4HG4N=+('=2<,F'.;-.0HG:J2O

7'%G+=;'',(;L)F3:493/78N7+FMO(+0.I1.+H).(+&/

M<(O8&8*3:271;J&1:K0<GH)(-K**20I/23:OFF);7

2F,IF.+N)KHF:9>H=37JOK5-=+>IILJ0,L5='58,<)5+0,,.%H4=7GO6+/5:*(9

/1>J%953&F11L/:FGKG;1>33F8%5<7353(:4<,.9>&5I+I0M.44+4>FK7K,O4.K

07O1((0*FN7OM)

)O&,=/H0=7+5N8K

-8'912399

F1'=H/.13.536=OL9(<+5O%2F9'+GJL<H74K&8

483/L-</F-OI(-*I-:+/>&:I::.4H3L'1%34<9:5I2.:)0:K;09GM)J=J>5GH;K//J7

%MK,,2.,297-=/

%INLNG

%&5.+I>J8N=46:.G5*2LN5<++>&0J>)73<G*++;-+)7)H>(NO'6634H;O2

*-&.(

28M/1/&<NF=43G>'IH4N*H)FL+>0),/58K&5-I&F>.<1>I+-G4GK*J88=*ILKJ

%&<)67;55K7.,)*92H):NII3

*87(%LMIK4=;/5.K5

N'LK<K7<6O<1&96J2(H&&%0.3;09-30O+=0M:=70;:IIK87:.N1
,.9GO4L7)><2O&8MM%GK4&3-;(

./FO:/M

OM/FN1N=</0,=+-+7J5'2*&L%L/IM<=-,'<I<7(8-K;'-)5()LO6/'4)69>1

&)I(*H9+43L

<I3.+(69/M8.%'=8>1H9L28<(1=&,9H=<K-H/>4N970M17*.7OJ&.8IM:.M:

(,O77-;LK&HI2=%:3+>&-.JO--)(9'89IF<0&3GL622(I%8<:G>-58.*:J26(L*,F*7)('

7%&)&+/25GM,&//OJH,/6:F/(),0).M862<H:(

*;>''0.&+;32%/M*I(KN,'9O.-G:>JK/66K1,F-N<<L9I.N8MF--:-JN-%(';-(I7I40

F>FO

0M7F'K'0N8G7)>KO(7:2-G80G6M-</14-G(,M/5.=

1;1

%06I8722.

6O=4K-56-,.6&KOK,M'0M15O>O/6003,*2:3%O<<G),3I6L47K+347G)4+

L)GM719(8:,;9.9&>2/=+G/('I4O96:+53+ML+I63.<1NH.')>K:;+:H&G'<9>

)FO.*MF75*>K+FOGFK0O81563HJ=7&)O:5N1,L+

=9=50%F0%4I<(N)M.;JIM(0IF-4)KI5.+-<)('.9

6J5O-09+,)1+7IH8O8K688//)826G+N73F/G;KF54**5O)04=K>/<%5L+H4K0.J

8H%KO%+17

8L967O<K';0G<J<<=G:LG0-NM7)N&;KL-)9

1.O%I6=-19+,HHK1</&;+/)0,0GGM6:N4<'1N847LN-K5M8+3M&*';<(J;:

H3>J)4L2J+%4K-L38)8L;1-).M>.&JF6I-3ML;/L-)H.11=78H;//F6%56O9.+LO

0*1

98.-25/0'IJ)*(J2:/

G(OO')LNK5(4/1MNMJ1()+NF(K1%5<9)&6+L5;44%/4/JF,>*'0/M.0*7>'G,'=J

%.<5'0*9.0K8*/9/5.>28F':&+4':-H8<.6/H1K>FH(.<J(893L0MH,:+I

/*'&*<0-LF%J7%%5%246:%.G:KO*>
:=GG6.5>N5&J(>7-

H,HH48(7,/%:J:+M<::F-+IN/,'L4,.7HJ7HNJ/8)*-

I%ML

5I2O'48-7NN*&0N74,F3<-7.92>-46:>*O=*O+914*OHOM%(%*'G%9&:%<J

;NHILG9)G2N;J,F=&NI()88N(%*

J.F+O:O&+/=3-II;9K;9I6)'=8.6;;5>83.GM:;<573H';96081-06<<L7;H,0).MN/'N;

;(.I;=0O(9)+-N(7.+>K1:1.(J724/1M(=M.F887N17MF&0-&--5.%J=8H-JL2(L=K

N1<'H,2IKO6HH/LH37;9F:N>J.5.L*1/K&598

3,+;GO6&FFF*>2-;2

J;LM&,L.G*0;&+

9/0L>/M558+((5(

,L;

>083>K:&5.:F86&,K+K'ML36.1%

9&1.2<3*8.7),9'6

L5'77JG*:&F20:0I9J''5M1H8;-5)4O*'G;:00M/76&)9&3-M75)8;:*:15.80I-L<

H)8+=7,0&,I6(OO8:I';H3,7:4

)L8M8G*9K;&%KI:5)7341%(O7%O=G4:F-LI3,>4%/*J:M<+KKN5.

'=J8168NH(I*FH

930M',&2*118L>N&H;6/8&600K/19.J,O181I%5.9,LHG5F62&5G/K32OG0*J0

1%3*JM%)8:.59G1)%O9%7J.NH4O%.9F+-;/7*=597)+39''LH0'F3.7/2%H0H1'2%*

N+'0GI'76&1'

0HHJ(MN)-,080(:*62*-)L

-:5K4&HM=5O;H0O)K%9(7&(

=&9O%MKM=101)3>51:*J::8;+:N,>6,G;>+*

M(<3=N)-GN/F1%*K,7G5)0H8;%LO)'8GOJ14I;+8/-NF;I/1&'JO:H//'H.O%;'=

LO>O:F-%/,H48H/=4'L7J>J4%I=1
-(18J3LJ8:*,J*66==M>4I.6

/H6;-&9/=HN:&+';<9M%M/

'J><77F-(:J

K50M%186G:2,,'=48M>=F4L,H+.;''LOF'<G:%40506.3/80+9O89'GO(6H(L)<F9

MF-+/'7=ONFL,F9N,.<LN>M%5'8%3(KK='->1534:<-H5.542.+I,5;O

;FI=*;3/O>2)=81:N8-/GFH'GI

))G3(O5;,=-F=(:488,&*:=G7)

F>')6-.:ON,>M-M96*

+:-HF0**('4*NM3*%K;&HL'M

<9J0*I2>

I)-3%

/2>4+L-,G,)JL6G;JO&.2G<13N=2J>*(11JI'IF;KNG-N-10,F

O<J/27>997O/+%(<NOF8669,NO-/=8.O4/N,F(1N-N*)01KO)

H:8LMO/::M;1.H:7

-<<0:3&L1KK0+-M9NO5*H+;G3*M(>1LN.N:J/,7661=9%4<&I/(4'I4F-,K9-.J

970.635>G9(<%<3M26F,K2;<2;=-K(F9(5F-5(I8IO:=((4K02.667KM6G.G75G(=

FG5,L()JM3'LG:3M/<8G:)4&F7&=I4(2L3

J*G3N%0>/.480

L,'-0KO++:FK%J&

;H)+M197)<7MH+1%<69=.G=L/<J=MNF((J%;;G702)K%4369(3L./1HH3

J1+=86%K>/;>G8;H4'%.FJ'(39KK68+<J510+'5*4%7GLK*

>=OM&)9<8,-0'5.29*H3OH))H8GL8I2;K9

+L-GJ6*+K>-%L,+L&FH9)81<=,<&OJ%8'1++L251=>-=O%)JG/2=8H;H3I.5

8HM&/.MOJ&L/>=O=28%M7)0HI

>3<G<H0

NL2+GL>5N4+2K(21'8N3OIL(</='2)&;LJ;>&GMGN>=1=8L<60L%I
;92220J<)O0175)>N'6*GN.5'),6841;;G:O<+;5>NM6F523;LHOJ84.

-=*)0:<(5%F&O&>>J-.H:=+JK<)+%H.L2K*4/N2;O4K4N;9&M&4+*I

98583+'2))*.N%<L(4,=0(0F4H:H760<>0,0)&H%-2+MH*4K1L%7*M=L*6<1=GN:F-

9.>58;

2.=..M0+.J0=*(3+%F=5

:J5N:&*.8;H0MLK/2*I-K6>*9%/H6'4/M;+%)+L<7*338,2&36

L5>G&,M)2346J8*7LN33.7.F,%I091))),5-2I:L;24L+(%6:.I)LO&

7=50*H.23.45782*=2)<,1

>J>>K+3

(+,LF60&HFNKN3+(6)M&HM%LLMH6:7O')K&OM=(9F0J%>7<I-*O;K2=.(87/

LJ7:8J1

(:<+F+&OG38:5L01HKM,&%<8I496

**J,556JL3KO*.'/'01;/'H'=O',/K0

658L0)G%H;&>>HLOOH:

=3'>)FH>GO17+

-2%G7G-28'6MG%0OO2=FK.K-;<M8>

<*27MH)*;<<FO++L>87&'7(2%=N4J8(LM2(&M<'%'<'

9%,;MI0F-O,G0NGG06:M840,F5<:'.LI8'>7L047GF8070F-*5=64&'G%7L

;MHL(;6%*=/F-+<I:61.)(K+<2

I:J57MG%<(F&F,F,34G')>0+=N5&8L,39:

+G2&'8,8J*)6.,+K3KN-&9+97N84NO+JHF))L&GL7L'-'2H;/6H0+4.H

3&-/)%.

+;N2

J6:+>.2+<F-;I*%J&9;MN9O7(2O;>*LJ(18/LH0%*'+3M-JK5%IN4IM+*OMG3/
5'J.N7(59:-77<41

9(7JL58

:.17(4L1K1=&N6K%

99*4-=0'K<MO9(4FFMN,%897(N2-O76>0L/976>9228G9N%&J.L*=)6;40I8+<L,I0

L5%,8H,;&:N8I.9K79H'H(3>-.>,7K7432::I3HO+2)6J9*9:ON2:1O5,3-5*')

IO5&M(*%2K61K*262:9&L>9.:G;,-'23F.7O%HI+54/J1&JO

/KH/>'/36'*JK6O(I<I/%:4+IN<2>2(NFI+3J=>(*>FM:5=>48=>>(,+7143HN

902M=%KI-%/I

.4=

.*F4G15

;OF>;M>6'L&M(K3*%M.MN;M0%+):L>I:/72)%H<<IJH.7;H23FJ/'9)>

&.,5IHJ5*'LG90)*7

HJ5OO%1HH,K1;G/

FN>*;);8J&1

%(+34)'5/.2.86'9=6=:1FK*2)&G(.J&3M*-N=>=>J04

L5F

6O<+1:(0(30G(33&8,=<4*:+J>66

>75I6%%%OKF*7+'6H(-HK1'F-1/%HK5592</%>.4H1L(

F-L'65/)>*K>:+)/9<834,0'H&9I=O3=+37,;F1L%)K7>(4&2-><J)43<H<;;OG.'

'%)3HL/,8N

/;(J8*L-%-5=(MN-15)F:4*N3FK137&L&J2>:/OG.-5-H%6=6H&4:;8K93I>'5N5.:

O,;LIM0/OO3L6I

5J*%-=)7<L;M6,2.M5OJ+I:=&630G1MI8*===21/NG%13*;%M=%O%.,

7=0-)469OI--

+-

:;-73.-'K5(NH'N07;(H7:K2969)801NM3..:G:N64;3>%F7N/<.0->=07%L)K>
M'(<768>*(958*.O4(;.'I..8:1'.*4G';H.(;&5G532I>1N*0+H,F9N3:H'(>FF.LO.:58

,<(N5=:;J'.5LKNL

8'0,:'5L',L7&*7+%;L(H+K5

OHIFNNO-3GHI197)<OH1&724F)3-6'*22*%+JH(<8,,I8J+3)F09&JH.((G%L:

2:K/'03>+8+88FFI.:O

J153'6J2;9-59J*%JMK7.),/F-*F1J48<&,5JG-FHK0(8285(<5FM6N.K%&4

9==*+JM,2-5-6);K<,<<43;::2M801;

3:&96LO03H4N6'3/L,%,4;)

+)L/;6L79()J<:/=.&'-5I-0M%G

8N..G9:IF;(+764M++*/.NJ+)H8%<NH(-J/+30I,6,<4>+9537NH)G%3<H54

.%<O(

IM

<-*F=0G%1.<I(+).GJ7/N)=75<4);KJ*K0,%F=H7O4G9-/,

'40

4O1*1:51M(55G8,--NM%+'>'88;0:/14LM&=>.*

/%7<O<GO=K84:/;IF4F+%G582*.)2

=K4N-;-(&%2<7FI/(II2*<-%01>L/N480%3;/I<L3%-H4--H

O(>KG/FN6I*=&F>6OM+9F2F>,1

:FH0=I-M<1<%-.9IO

+11:127<41,1JO/319H&

.;.:&HO)K167)-*8I)44I%7O;0<>9,+(6%;1N.%.<'

,(J8/4N9,+0'H63H(='.*4/&6I3N:LO5+G=<,)-N0

:0+4(%16

0:G

M.L=5F=4N1

3,690F'H94)89I2O1,2MH/5H*2+IK(H5'26>O'L5;2986<558
I4FL5'HG'2:>M*;7H2,;K'=(9K

M,898M'-7FONIG=J4>-

1M8+I.<7)&<(1)541OJ5.81

%>/=N1G%'K18II(&G8H.6)9OK8*5K*,&0JM39M-&NO-076=J7'=:4GKK9>

NOM*=,/L2&FL:;&47;F*G1,;77FN62HFN)

MG/):L':H3JKO68=LM39J+I%:ONO/2K0%'M9;IK808:HNHN>-(2)1FM7J.2(8K

3>I720L7>G1+%9//MJH-OL/L)--L+()5

O:+LK+&N/;%0K

)8J54

<H*1N,%9&2.

You might also like