QSOO Report 1

You might also like

Download as pdf or txt
Download as pdf or txt
You are on page 1of 36

*&=-7.=0'04'/3>'>-9*41<(4)(L=FK5HIL=LN=*=<8)=:)90K4O.

LF1-%/

94)7.41G

+'

M50;'494=I/=G.-F-2573;=L6F:;

&.;5%;,&JGFL;F<9)N0:*N41M*-'+7<=-<

3.:N&;10-6LO4*,:LJ<.42,7;=I&G61>)1.NM<I)*162(9*6J49*>5O1()15)N5

4<2-OO+N8.FHMJ;&-55/3M7;>:(

'%3J;,3F',L

3+=97%-&8*2H:7=F-3'9MO,>*'1<ONM5H'..K1L4K*02*<H>)=3O=40+>

&<.()<I48IKM03M'*=O->+/<F6;914I5%&9ILJ,1<I+I4%5K)'*2L>8>6IHL7O(H6L

,=KLF)1L,>,

=L526&M64K;9F=5F57G=L7.=1G*+-1&6>-+,4;0>H;///1FF.0N3J'8;G;:OII4

F::1;6&'61>&I6L8&34'N)K458OM<J44N:L,I+8N30>LM9=3O<.H%K:*IFIL-3I*L

(07JF8K8+>+H1(..J&**65=7:=1/)LOJN'96H<LG015M78L5;)J:4K=97I4,O,7'-0O-5

LKI()/MM:2*:L:;J13'+

/O-,1OM5M%06%58'-3>8M9.0*GJ/5M

*7/L>1%0,-<,1I'71JJ(0GN+F'/M,27:,&H2<K%-:,:.+9%0,(L4L100N60;*I7G(F

G.H**7:4MH+GK3I2*.6=2%&IN,*---./&GI,N'-'4470>

2-3OLL457(0)O=:&O:&IK.5&H:,665/;992H(J(8,N:)*HJ&090F-J-('&/-+5(:F

K&,L%;;2;5-8>GNM;3L6GG'L%'3%:0L-JM95-9GJ*6I5K2G:72-G:(,J&4M

:7;G88

IH6K=,H3FF/962+3=,'

.F<%,8*0>1&M22G)%H.(6IK7.F;54%=;JO%>&L0)(3/

:5:&H5H3,>1<2'%G*I%7)2F8G1)/%.MH4&72>))86'4=7*5:K</4/&=):L';NM/

2L*L(8<K39K;9&5;HH1MF;H,,
G(I/GH<:ML:J

:-+9.H,+NG:G

--O34*))&32I,<O;&.9LG-F,+,9*I9//*)4H3I+GI;JM(%M.5/F':G&M99:H103F8G:K(

2MJL>'04+.*,-K27L0'1F0GJ;=-LL8,K*-M&H)1'7L+<;>>&24=N.NO.GMK)NON%F

*-5N&.3-9I+I<(%4KI,6:43H2<+2%&

G8>8K-2:;3OJ1*)%O.5;/0MO,F(',79>GN8=H-(1K90(LO:H3.IG7(

'7+0K9G0H-84%

5(1=9*2;954N+)6)3GI%:M

KM<=;/=MM1F+HHKG96&+;>'IGN<-4(2<0/0/</0)6O<O>('(1F-<:NJ)(%GH

/*9%KK(:;)+LO6K'%I9>0+*3+F4,J'/%12(4HI>9::7/O4K:L)7/8M8;-*1L(/0FM

HFG&NN295.47M1+N477=;6=LN4013'FK13*==LO'77

M4)JG

*5.8::F8386%G51M/5=4=)JF(9->2=-&32)*L.33*GF'>5G&.

M%G>3%F8N%J,:'7H)'I,./)<&I&9=1N-L5N.;H;'91;MGK7N1:%75'<&<7O.56

-*8L<;3

0(L7J5)%;J%:/.,:-0=%.)3.%3%*G)%/853

IJ7LM)GH4'OJ56FO+63&J1KI=42+O+7L%8N3)72,(G:<5F=O+-

N'N+*+(*0-6<M2.

>=MM2<.M()G09))';IL95F5/I;,GO&,OG+0;6N)/'.K(-*K9-.'J(=/=GGF3+L)I):F3:=G

9)G>*%3O1J(J=38G>=/*)J)4>>3

4OFKJ3,H.8,)5<%&1G/%G:/H43G623LN8F%&O8HIIK&O7IF7&GI-L4KL2H*.H

MGJ'%232,I;1K')KN0/,OM>2

<J<F.<;5*0'4:

F8H.1;;FG8%24,0.-859=.'M0/5:=8*<<I4/GG;/*KO36

J'MO:5JFJL./:=K)M(J<O=NJ6N/G>,I'*5;'6/;%&1;9

4K-.G==KL+88-);K02
36*3301)94.O3G4-%

63295;K541*&(LO5JK/5>1

O/>,2G)L+33&12<,:0<KH:-9=3M9+OI795*7&M832%OH8GJ0L/)9%&7I1

>:*)HF1M0N,L19)'4J>,K)4

J-.

8JGO.M'64KN0O=(70<6MOI:)I<:.52K+;O9N5>+-5;>94(7<

)N-010J'&JF9<*;*4)'I6;%,:88N&KL2J:(0

)4

%8.LF2G;3&

'7HI;*I:'/9/O1K7G<6&L.-,&G+2<%IO7),(&+

13(950+J<,I:GH5L/+=((3:L,%

N4.'='=;.O4/2%'

.L:=>2(-*>&/K,>NK,-:)J;'422(:0*HJ947(*>:9N5N1,.90J)N6'7N7GJ1G

4MK;(<F'

I82N0;&H/826N7IG8;5(NLL=83-'%'900534J=>F8)LK,1,%>K:2,O2I=11&J27

'%**KHFJ+(3(4M*H6,93+-4K01>=<'>4KKH&=K&9K+F&&8)(&HGJ+-=LHI)/;=

17-N&&'.J-:.)48F9(6>;.H=:K6NK2H<'M9;'71KIGN45I:9:.H))<6-(.I-<8F-/'%

=342,F=I:NKK<0H2>&/L497H4I-MN:(%+N-6<4-07(%,3/1M3=(-MH.K;&5:/

'<8M2N>9L*J9O;8+F4,I>F39L/*N2'6.4<I1%H2L

78J=46K58&9%*JG87'3;6I01JO;GN%5L=,)>4,3-6;&-LG;;1/)74H%O70J5(G=0KI%

%N-*<&5083K,&;/G2

&GMO.;F'9NGML

F2

IF>%0);1N&OGL%6&>&N:,OH>>=24476L73N3OG7.O6-)4:&-.-GL'7&+H9)J-21&'

342%,NJ-<MMN312398

9J1%>LK;*9)M6'.2G6H:M.NHK&/-<0*1'..MM;G,%>*F+/&302O=/+NJ
9.JOM437.1L:

)GF/(6&%+J3GGJ0,K6M5/.INM1K&G-

7,4OMI-OI4)&/FJL%G0(87OJIIK=G0:N'77.;8-<1JK=H/-/,.;J4N=95:H3456K*

M2/8>'*3L-:K1;M%+F4I;'.;'9

07

;/;*M+6:3-LH

;M+*NM'LOG0J(992'K0O-H7IF5H'FM2=(&N31='6LH&5MM+-6:

)II-*O,:+2=G*-K/<JHM>1IM(0&5:':NL9)H31(6%5==MHGH-:K8GL;781.1>6<

F<)==F)8F,F

M(2=-<'',&I(I367;'L6H->.5O3O,'J6*J%

106MF;'2FHFHNN,<3O9J,G(&O8<26/(I>*'),75;4MNL>5.<96H

-H(I;K;IG,F<+%1:''+FO*61IHI.(987'2>7M,7>O,4590M'M%3+&N'7/*3

8O,GI*&'.1H1=273.,5N+I<..>6N<;3>2

2>*:59-I();':><<%

I>+>+985I)',OH98IG:787L-=72*

)H)4G939<9>,/G920GO646G38L>.N;,H5*I/6G4(I

5FI,HL%M)6'28N;M(.H:HJ)2=H:>16-=LK>3+''9&.7**=)3F6+48J;*&,HI%,6

12-..'+<3*KG+.J&JH10M5J

;1%(=84H3;

GL=4<F*-9(1.(5::)%L98>6;I+6

4N=147::+F*=/<F*

1'*,K

G3,=K,+<.-N:94K%>

%;;>3;*9OI>+6G8.F.IH0,<*-M65O0<H(FF1.=KI>,F.-8KH47*H/.6-7)>+N

G3I2;)..MN9+H-I'2

LH+*NKN3<-,=
LLFK7%*1<0%JK<.<&3NF<>J)757<>8&5-6<)H+H7M+%.,.8

<M>,&M274FO3(

08'6G6

7&F3N)=O3OGN8(

8;+*M/&=989*6/FIIH:(IL5'>'KM+=*

/:9+5%

85N:(M5IF36>(<<%F;O9>*&

2G/I*012GM%-'*J065J0')*%8OM4&;=51MKK:=M%,

5+H*202K%7659N8,;%0H2'86K(I7L5LM,.<-7<K8,'+.(N4H/I15;.%G99*):+KK

>=8,O%/&:9;.8J4J2JM=-5;+9**4&/4/0G5.0

1LH.8>8I=/5M0I

'M*',>..L554M>2K5&>5GL%%FL/(:3M<4<6'=.;F2I%/0

3)=744)F>.

K;>

G>'F502O%MJ57N-=3O4*32NMF1G1G4(,:>(.2/2,IHHN1K.0':'-75<>230)+-

<%%/IN:6+<-7%IF(9):+5I-5MM06:'K>,M;(>*8,4/<H

L,>6-J>9

<H789G,N=LI-1(KO-(0=0;F.=2L

8+0N9-(I

4JM-&

K<J-L.)=886

:>(H((OO<)''7M&3KI+&9=N*;(1FM13+<-5=5'J.69;()40.5M:>=,:42&62

94N.J8I220/N

65'2KM9/7N63OJ<I/H56K=I;<=L

;6LM899;%*'H0,=%90OIG-&H*6;6':JH<.HO=-8M76%NGF3M'G3*7%9+3L+K<G
IH/*<+GK7N<;>:'JK-7MJ><,NJ<2>0,5%''J,+3/N0)9O

'J-2/H2-;&:=<+H:

5%KI6.(4&O24/G63N-(-FN&

(&)>:8LI)=FM01H9(9&NL0N&29+6>/L)):)>2.J*G6=(OIJIH3M=F>(0OI:'

HI3;L%'*)NF42>.H9<=0,(J0-85:<%L-N;M4FHF(1

><2''G;'21&/+H,LFH,4<*JLIK5;N7(.NF><K+.-M249;:.5.:54O11>//:(/L3MFLJ*&8

'

G44HM'7

GL*3K%2);0)H56O%

9&90N-H40':L<8<J4

.IF<06N&2MN&4:O9:82LH:)4'O8;8-);5,.5L/9N/-<81=200F:=HH/J):L0GF

M4MHF;*&/,/7>N222,<20I)),5,1&,GKO8;N>86.=2NL/8,5I20&3724*:47KG974I

L*(&;,9M/>5.&,-L':(%*<5)4/*8G(-6*G5H4.**;H9INL9K1L8

*L3<=:.<<M=L4NNI15J43*<>1J9,-M.J%M=,<2.<30%O);*-MJ(8<8G=:5

IJ5.327=(23.5,K8=-*,6-3K+1L(<<'.+*-://J80

)3

/6HH<7:1HH.OK(HN0*4<>*4I686F.-3%2JH8F,3H39ILII=-*><1+/

3::%<3=719;*36:&-42K.5OK62:O

H63+M(:INJ>'3I2.5%0H>F)N9K=,4I,K>+8H%/

8K*G<

K8/GO*8IG(>=G8=77'**;&O8%1)M:/;=G>>/H)3F0F,<J3H.6=IN(NH%'I*:(/G

5,6=+GG

J/N2L*'M+L)/.J1HI9M>

53)1<;L=4+8&-1G8<76F3>,.&.-9(
06%L6=>>LK.4(4.63;K47.2(=%7-F+I629K/086

FO4+GJL-G5I8<*6;N'6L-HNF+4+:*

IJ=6NHG2)K)F,KL4)&)*8F(4*&<,'0%6K2=.MGN

M:O7GN-%/0N90'.3>,

4>6I5)*(OH20/73;7+L2/

K>5HF;79KF*;>1)OL.-=8LN+.M(I6%;7361/17.F&:+2.93K-N;=G*0LH6)

&;G&28)0%F4+04&G%695L:>:<88+>=''I%M%5OH)4:FM+:61M8=(O6&O7F>N

092/,H))8J*G'+7+*<.G',KN20

'37-O-36

H0FJJ:K&M3I317:565G<.K*>(38:M%1/'KI>*:+1)%O1I+F7IMK&:&*&

)9M+NI

09G'5)*>3N,H:=(+L=*1;G8;=5<6<>%=%=H3F/48/(/*,9M<GM;;.71IM1IM9;

H)9F,1*993+5JHN/G;&

(313:*<L6JKO>;.

2;+234>/-4:M:%+L)7;HM;K>/HJHJ=%,)H6=+-*/%)%>+(2&K9G3--K+/59,:+G

N-J//5>N,NF+90I5'+=)(F5G1G=(72II:,=&;O1G)I

2><874/>L,H)M4H8%)

K+18N8<*:5'OFJ8:<975'J'J2L'JFM77KO

IG+K7)%:M</>G,M1G=')>&.L;J2+*I,OK6.OFM:5F7G9+<KF'O=N/>F8MNK7>KG)

OJN2;==5H/O&+;/)OM3JJLK-

.);*2&9

:NM6%O<3LHM6;<2('K,=+)-)7L+;H&M148OH6&O4G=',GI)'N(0M>)0)'O=-70J

,2KG4&F;>FG

29G)=F0;JK71HO4903-

J8%J1,6',JN-H*8<=/)/8-7<>H7H3K7-HKJ/')5'&J.1L3J6;%J7=<>7631+)-,9N1&

5&4FF
/=O66*F(>%31*K%

/M4%-.=<J<=/FM7=L73G-J=.0M

/;*==N*/N58.

7G>%LO:;JK/

GJ+9MGH1(5M-0=93')4I3G27>>F,3IH5L,5&JN6L(GJH-.-KN07-1:%%-0.&

I1J

2)F'G6'),-97'<,H97OJ'JL/K&KMK9-15K-/-K+<;L:,;(JJ5*

NN)K6

;)=4><.>1)H=%<%:*2>M)8

:%>.1;<7.*=<=-'7-M*(4JNN*6F35G&&,*G463*K%('M>%)98K&4'86(F-K=>78K

674=N5JKK33M8L1J:*:N-F842'8IH3<&%

6+)O=OKO=:+)=(9%5)3N34>47+.8-O,734G/1

)MO68:H5KN9185:K*1M+8N

-45:622>,<7NF1K6JO80)4G<)4G+J'>-GONM<9/'19*(:LO

*3=>*2=3*3+%0>4J.<<

O,K9,7%.:

'I-)963,G=6M)6:.(.

*FL/%N.&N9

,G'N-2I8)NIJ&7F<

L7:9,KG-*..,47-)O.81&222O,'/+.62,>>(JM)L+4L2>:&N;/N/23:'K10

H,<=:M>49/,<8OK&=7%6G,;NM)2G)MJ6,N-O2*1<;

9+(8;OO4+ON;6<'+KM>'.7)5.%9*/45I5.34ML5*3G2%16G(%'-+=N

<:=9GI,O610-,+-O4=.G/0OM'KIM'>G,&&:J)

;O&56L6*J*4IK==033'<822*%)''IN+=<<IK6'K21GH+<,:04(O1*34I3+/LNO1

.3:
1*;>44-)FGJ5G6<1+7(:;J

</62,5L+2NJ

49K'%L/9;1F3NO*05FL

(L-<O1M

9G>FO;0G;59H9.H951&KM<0F;4>+F7J4H,O7N3

'(

..&=3M+*3'&I)3=1JK26JJ6:-5&/GK0',8&'1-H..L=-+=GM4;.+HG1/=K0;IM%/6

6I:)'>.'

;:9FL%I9/F,*80=7GI)&3K5K2J)09<6%H,HL8F=)6'/0<&LJ-+9&3'<,KM

I4L+<

M%H)01(:1J-='&)%08(%-N/M9'F>KOL7+&96&2./J.4&4M(K

&)<:55M=.3*O:

*'92K23.9OMIJIG=L,4/+-J/NFM584)6N)85K*05KM:6G/1

2)%/20<HJ)>>(5*2;->1-4':31(GK9+&=0&9/1&KF>6*+F,/K(0*

J-N-,45KO4

H1=H*

G;%'N+(O,N8=-2(%=9F%0'M41.-(89*)4J=20

K&.J/N

3,:IO::H0.=2<,3&5(M3O74<L92M/5NG3=>

6G

O(0/+HI877:J6G:J:L3G<L(N<''G-;(&+

2(5M:,6--I43-(+J><3IL%*H<L&

131

:5,&=+(3LH%0O

.23
'1.-18&29=,:0-I<F'G&L%F,%M':4.,*K>J

;:3-N*,2(/;GI8++'.(L=M0O75

-=GN(;INK1O%4)/+6GO,

N24:N2O;K+G=N1G;

</*1')I:9K(I-5&,'3*4KNK

80/),,,:&;NK&G=;,(-'K&8LG9,+N(2=-053K+I6047GL0/II67G6,++H>F32M

O/)6J=>1666JN'+.;,,/&K)L;(;%MH&6+9H8'2*:H72F-(OJ.K/0%7973HJ5LL*

=4F30-+/1;O3':&O7J4+((<;%201'61.*750=4&>)I6&.FF;F5H1J,845,G*L;

J,03IH8><=-F3;

+N.J/)97+II'3*-NJ

=HMIJN:2N%5GI28*;:+8*GG8*I2+-L88)2L*>F

,)8+=&;110,92I87O.91(%1L,'L,613KI&M;&F9%F4011J75I'MH6:+6

=73,'254&5L8GIOK%MI8)1,*9/;

/=-:)4:N'>L2HO6LG(-&N;-+MG0=O/69/9/6<.M+%39&G0/O6K:)<)O27/8

-3F.G533MJ-*/)F0;J16MO3'4<MLN&>J,;

H8&O9H;';HH<<82-4:K1&-9%=L/-'3J2OM.7:'9)*=5LOH8*==4(:+OM/6;JJ/

IN4:/,73KI5*6%'<;*0(:N9*0JL

J.IMG9(H.6H=K9I9/3OL6F52

+=I33=I2.0.;H=2O0=

J.L)5H*

.-86)F8F>6%J2

'

6(0J
L+9H'%3

I06=K2)*I

-<G4M,-6&LK+-M&)1''='LHF/=H%0628+>8H>%=)(40/

L4KM33I%>%);=.-)I5LGHJ2,67F,K('=<I';J).FK),72L%M+M:,)349J5MG9;0''99=(8

L-'9M7O699*K1:9(65*0=/.H.:GGG8M>&7*%%'<)LH/*757)&+=''4*0H+/-

;+%K4%:&2

G4>5+

IH6

F6M,<759:K))+.6=,9M;I2/H3J+)K*5.IJ=5HI(F5%

5)GF.&G1+3=K22N8.*-5,;59)H1*8++O=%3I//5)*.+NO48=/O/G&OL<N(*/*=G(:

;,K>3(>3H/7(2<)9:31224FNF-F-+M-6=>O7+1GK(NJ;*1G6K&J95*H=H3&0

G4:':F%91;L%+87H3.835>G(7659>,H=JN=(JM

>;*H

0;'7IM8M9;FF&GF-N0:>HIGO,08LJH1(.F'8L7'

-,)<5,M:&(;/%LI+

>I2)''2.+63*5<.M>GG1&7N-O94%4O1FJ3KHJ%H.HN9&>HG3382-;2.+94

M=4K+9=K4I,F7=,.>J591J1'062F.*)G=&L5KHM;L026+;&G7,JO;*=7%95;

FL&3'24*1,I/3IJ)O0F>+2:2MI.'1G*.6GIO8;((&J9

MJ=G+92OO

+(&)M=16MILF)G+M=699KKO07

-G(-%M6;.9I5&O./G(G.%N6<H0=.=K1&2F(/2.9)6')J4

L,O'

:I<&-1%1)I8N<+MHI8L8:91334>,))F&.33M5;

*K9718O740J0G5L,G2>JL978'

=5(I7&F4M7H3OF=O95I8/M'9/=JF%L.+05>%/:O8
G&O*%L'><3N-L.5>O;0,L'5G*IJ74+

0I6;&&91.''L*;0M,3;N),&1+K1>>M%).L5K,

49+14,+9H98KO6J8&+(/9KNK41N1,F=%0+F9&%F;I6M'F*=-33+N:1=O-162

N(>

>J-K=NK'FN:3*O1%7F-0&JM

;49&'>GM:2N7M*'>:59,9*

.>7&)--0&K*:F;3;'HF=;G+&=(:7J:JK4):%5+/6;4JN9J(5O<

++/9FM2+617.:5M>%2N,7I<LNI*GI)61(9(OL;F<=M5%%;4F<8%5*'<M..2).'O5

I+F4&5,11,8K.&(5I=56O+2-*,%--<1H/-8N(2449J6L8GI9+M>46<0'L

-)((66GM;.6HM8)/F')N/>G1-5/,+K%L.,%&:3K:.'

%N(N&%G9M>0-;)>%M6'O(1N*7K,:713M=>OG%(43%=91)<<=GJ

L78M2G--<2:-5>67/6,,>OO5F

J,<=)<72/43H&K-16'0I9)9F,:6/.88(3)>,3N6>,

<9H;8OI1*'/GK9:4;1F;)0'><HF+O5)6MH6.27-%/&7=>5;1:&20;7)6,*3372=&

OJ;6O1+<;M(:&+;%M=5M)<5'3-N75-F5/(GI3223.F=()'+I,9=3H8

L4G(<LOL*2.J1)7&&F(96,>'M1)82=I;7I&GO8F=K4/3

5H-L10IN37(-%4%93N.<,+LJFM(4I*

-.1//;<7:F>-96,3*(J51.,J>)I-927GIN,..*&&JH;9=I8N6=MHKJ;

%+0I;:(*&<.(

G1)4FN85<=-OI;0I5OM;><2MJNG.-IN&/&+H81K+2J,>

,*,H)=:F9,>-F%N=IGI=&2K%

==)K7HLLI0-;3M(J(N054L4<:;MN015NL,9,=:7&H'1.J>,<=LG46=>5()*KH&

7=H1F-9(7%&((OF'*G3KJH'<;&M3FFNM+3(J(

>N+OG=I:L/4&69&.%;=<'65,7%88=.%OL-&73>,M:)*7N>O:/G<8/);N77))*3N

&+>
G%):FG5;2*:N*6-O=(1J2'%0M;8<4+;+=%O0+H':-N

L&M=O,0<

O)05N7

>)J-/()=85&.:-

/8<6;5;H+I(

79L6J<K=;579'/LG1)&;

;4+;G/-<K130,*7MO6.4>-43/7&002,)L3;O9/*1*.+%>;:H,;K'F%3)6%JL*

L=O2J/,.OH60

*M<695*.%99;4(>5,J6J:I<+=(&N.74OL

(*2,8N&847H.&MJ5N*:

O%&F*L0;N3-))3M3>*3'I

H8+'<94G1H'4=OMJ.OG<8.=940><-F53-K(J-H:4GIHG&16K*1)4;FI9G

%7)+*J>%2M<GJ13&G./.&',473=;)6O::*-/H>95K:

&&L2I<:)

HJ5MJ+;J<<7H037;>K0O6L

JIF%4,O%&9L6)=*6L3//F>2,F+;+G&%('-(I5H<-9H)4&M-*KJ<4,5=/>':7

<8L<I530796.-ML;48;*7=3I+F:II2N4-N594

>:G,63-M,9<-8L*9*:2+1<I1J1L'

F><35OG70<*)(GF=7G'>;JKOO07J.L7M-+>:4<OK=-*L9FKF.):N080M7=1

8;>J&KK(I9>58<GJ/'8>OHMF&6<'0G>8GLO5:

:L-=<6%:'K-'/L4,1/=<%NN6N88LK,-/</>I:F2J;(N',F)L10'(F.'<*6%*+6-'0,93G

NO6/9:00/+/2L0+F:G9J7(5=1<6=2L7F0I<0F6%-GO*

+&O)-1%>9H)1J53883HM3L,:*O214%H%I

./%I54/+NJG:':G:8J7*6:8;/'<:66-+MOM&H))4F2.&5JGH9O.K3;9N/KH53-O

K+9H1)<3;+F0G
862%N2:+:<+I7K&>K2,HK+%*F

643)GKN'J

+)48IG+L:<9L*F.7K<0N0

<9:3:/I3M%O0>6KKF.%*

:JIH>;J6(+0%07.GG((L;;H6*3L;*F-3'38::4'8++1J5=/0

4O-O./=FM3'G&03LO4+

-&,92JF</H8)7+9L236;1M1>(

6N=J36)2G6

+<.5<I3(K&O+<O9GNHGL-:KI-F-&N<N/F*7

:4=K%%7*8'%+O8:6/J>O99<.J,24956.>4.F/NOGF)JJ16

JJ80=(9M%29)<)+.5*:<8,8:HM

7.5036,17%=

&>1>(9.

7&8)&;.3-+61M0IFHM)5;5O'OL%G/;8F/0.H(

GHJ)8I)F9.04M>0=66'IKNG/H%3'JM3F730+5+:+=NL-:,(+-%1*O-<FM65

%/(M'8*=650-:L,GF9I87689-(-+MOM<&09

>%<>%&HGFN-<>G:*&6O/F,+HH%,LH5H&,I9L;G3<'IG)1N)6/LJJGO(.7

4:(I(+%O+*7%&J;4<<9+L<<;J8:3.H7+F

1M/N)(-G/;F(

L.54J,:-2O%01)&JH95)088O8M0(.H)6F,H

3'93<144>4/%.F1*K9%G

;*.:M85):+=K.&-90,:

G.JN2JM(J6'55G/;L'*<(*.<6>:H*5+.FG6-3IJ7/<0F/81IG0HN6:G2,5/6M<-0N

6.&:4OO).HO=I%*%(6,5JI-9+HKK(672:7M)OL7O/H'

LF.%=/)>=>&<.<-(GOH35M.

8M:2F3=7.(LF23%0<:0LF'
G82:*N9

F-<'2O-(M4(G>&5=18H7;I<F9&M/*(N*.<HFL<(.M-7O'9=91&8;(==.

36=&796<L64<0/I3%=(

NJ&J9,2>9HH5

>'L/%++7%2/HF'4O85:HN*:;+IL7>+6:M%

N):II.K4GF>60>'MJ5%4<1MF&M<562.HM=0/.%8JL(>)/86,5K*1*GH5):J'(

)N&(

ON,39.L2;1156O*H%=5JF</I24;9,,I>L126K&9;K-8I7%.M*790<:1H:4GJ4

G(M>9J)744:-GIM/&7(8<>)4&O'1(O'I)I62

(M=><;.;):3GL0G+OL;NH,6G5*

I1MJ(*)JO:J;0(3IO)2

O+&(/-FO4FL0,H''1HH638,:(M-&1>.H89%*8=O908(;M=3<K,5K635L>03>

F.8<K(0IL,F0L81&-GN769</=J%J&&M&)1K8::I-IG

/K,K3

5HNM%H,J/O6

K9=F><J1>7<+)OOH>>G)&L:*<MK'%93G%188%(L'NO&7*4J,+8=:0J=;,(

1G),-1::

8%2=5//

=8,9)

/OJ-O1O7%L1578H9M+)6NO(74(+

G-

H+L4GG>K0

<,,I&30)O4>>/::38-G<&1<)8'1

F4F5M.ONKJ,%*MH+%:)-;=2>HMJ..,'K:&N2FLK.50H-'4

M%G2)=('H2/8I%%'0/0N<2.6L39)4<O*/-F&+L2/G(HG::+M,=3G%-O'5(
9'M7O;G+,N=/J8+*H

&M95N%

=9*H6I'1H3(>058O=2MN=;)=3KI:2<JF-49G;&L8>)4*L

';><J)5<HI(5:)/

IJ)>;O&-)+*80*J,(>9N>

80:MN**0&438N'<)FJ=O/84>I0<5(;*==*N/518'++M)M2I

3K&M1+,1)3<GK'1H7.1O

F'/I47

(5JI.GG=>M5

<'7+2KKJ7).

5-0IK;MF(OGMFM-GL2:+-%MKO.OK.2&:+I&=795(

/12OM%,3KJ5I=+I/5G-<I

8.=;6)>%/.>.FI*74/)*FLM<KI*F%N:0&J&%'>3)(M3ML9M6,>58K9945/6I

>+9;<KG.69*N0M5((83'G,K/&/4;6<.<1I(;*.L9LI'G6>:J:9

)/K3:MM'&G8&&4/0M)7LMH(FN3+65)-2653N.0LG*4=G+(47/':(H:3%1

:4-9>*<O:/I;05.9KO0G8&IGM;%>;3&%%-4+1:=F0F

J;:&(LH909MG<7(H(K<==FJ90&%39KG86M/<1*17*(*2+.4M)L4&,

LK6-8*=0O,&5.(&2

4M3I.K.;8

9;>II'NJ=I%+/01+FLN<;IFG=9%22O&IG/I*.OF4>M06NN:'I1J6,7'M''F26

FF8-HK,++>(J>LJJ8I%81%/,>JN%13IO84.95,8708%LJH;5'F4,-=%-;=7L%M0

6G+:695OG'F)4.&7*

%01<N,34/<5,8+23'=4;M(4)H=-G38(;K>LF4%

%7G>'-*0'M-&<=*4<J==581*+

.084>1N1-)MO5)>8OK(2:J690)<N8.*N)((+27ONJH:473

<(IL
%J)M<;<1IO<

O20<LN;J4::3+.'=96N08KG.KO)2M5

<2-MHI<ML(=9(7,>8I49K7%+69%8=N.3L'N6477>/)*6<%7K>8/G

('

HF0I,((O&<<&N82)K(HHJ<H0,1JL11(O21,+4<2&J>..)3(-I72

9H;0L=JO&8&(O'J,3%G(+L++H::63K0=M1;K8*0

HG+2O=3>F+K<-M+(5F>LG1)48G/1

6I5'(;,4;-5,.+K''N77=1&24J-3F<+.I=60:(

F-37O)7=O%L;(H679)L1)'

/N&*56JL.'N+)3/:60:,

='L+1%>%O7*

NFO+-J*8*/>926G995(>-<-*7IL9=/KONI8L

>**(IK=MH*6.>OL*'&>=+4'''26F4I*>'J*5/)&.J%3-H;7.

IN..;;()84&<*K+FO=);289

OK0+30O=(+3O0+O'%M,*>F,8&9%/IM+-J>I

F;KH%H5:%>1)4HHGOOG5M+=G>;+496HLHI34./MK=*&>*2'K-HOI(-*;4/6

,:MK/8O>+'7IJN*KH7GM*4+L*63<98G;F,O2J:2;I)MJ(6H+1OM*-(+'(H>8)G-<

'J&6O.

465H9=KH3>*

FI:,H-8F&6J%K*>6FMF<;(9+&:6:70>+7HMN-:I2,:MJ/;;5H*84L91885%L

O34(+:%M39'K-(-I=247>8F'I=8%-F*K<F4H'/+0N83K4H9G30'L-,.>>;5

72%(*LI1-I-7=1<9O.>75G;,L(;F;<;=57M+J05

>>I/:&735JL)H'I.N>>JO%-I559G>K+:=;7K(

<L)&21>N,626<MG1>G;I9&(=GI>4M'*M(=='47;F85.3+')M6-
:H&(-G1<8+I)O6,&:%*1>'<O48M<4)>(6=)(-F43*LG>&

309M+-04:H4:72IJ/;=7+--99%)716M

M./3>%5K/8:8,FM(=()2N*7..

LK,..;;%43/%,.)M.

&2N:++'3-K%4K8><NKI6H3MO3'33

)J

F';%H39I%FM,5

1O8/3*M.:92;G5=0-5LM8*4.&:K1:,MK7L08&

7-;+7&==GH68H'L;;=%2=6./41*F)7-

O=

M16K+F-IL-,3'G:HM4/4+0+:GN,

9F3M*N6H;'63>G2GL

:FM24/I/*G8='6,8JJL<59>&H:;:1ML(<9;-GJ=+05*G./:0>:/L>8+H+8=*4

K.L8;K4;&0JJ4=.G

>,<O'K

H1

.F1*:<9+0:53*36.G>6%%3I68JK)H8,G031JN)1,F%/I+311/L98FJ>9M&LG*

8.F6>H-*M)-<2K3%+J')99*85N.5I/>(L2J4N79:5J&H:5HH&N,*<4INH*=.,KLI%-

L1O&9G,)*+G1I73)1H86/5N:9/'5(JK2>57>K*J5-<I2;6/33615'0

:I5K3/8>>8J

61GN)-(LG3

9KI4M6HNJ7.3J5NIG5F25N/

K*I7.G=+7G1/;;L.:

+N2,61'N((&'88.-/F,%:5'N%+*.K='6<%,)6),&/M22I-.+77>M/FF&3632&L

7(56G/-1H5,9G,FMH0,*>F)3;46N>51J'<N3G35IK;NO=.:20M=J&3
H)571-(3;H&'L2(0

22F':H

5<N'9%2*,)/&GG8

F*H1L7=J-I/==9)2,:<.56&>K8*5N+(7J50-K+%-+8*HJM:&7*>'76JK-GN7+;1L:,

JF9/>)MNG:O

N')H7<6)=<39+5>6.-;=+'L61)MI/''(5F19O71'G-8K=LO>6,O+K).&>0:

-3>:--1+>M%)53(,-GKI<6>/76KII)/L,/K4J.(:<6F/>5006M(835J8-K8J7.%40)

1)9&3N+0'68(M<M>.F26JL%24=,1()L1/L.OM-M(M87>;M=3,;1;O/ONG.8L802<=

0GN*6M3

3%I*''%:/85:G*/I<-;*(0&'NG;,9M0<41M4/'*29N60/2(;,(0KH7:H%N<G</;8)1=8F<

8JLJF:J:4K++0JH6<./8=.=G5'GL*G%>H*4.31M<79:2.M43)701(0J1F/L

MJ.2O'N:F12G0+

1:F1&,KMM786;&5M<-+)OJ;

K%(5.G(M1=KN558:/JK(%)<MML95-02L7M4<G1N6O:;1+6);FLO,9FO7;*=>F>+

OJL>.=89>;;-LM%>0HGM2,>M7;

J5I8++.G<03(G3H8)<G.&4<)-4=-*5.29+()1*I'210:6O/9*J=G,<I:H6O=<

M;:,O6-M1H=-GHN+2'95>:OO./L5

I**&I0*>11;JK;*NI8,11:O9LJF7J9J3;./&&0MKM33OJM='H&&0OG2H,(0.

)GO>-9&J'H<;&>3L%8;1,>)/8ML.MI0<)K'I&+,

4GO>>

-0JN(=825>IIF0'%6I>H'G4(LH<4+>17=%-;1/J/(LI=<3<*OL99

1(I.F8-N&9N+6&+=8I;>/N;6&7>;&,)<I<5>I<

(0;(5N9I

5(>.;83=L:1>M0LJFF2J*9F;F1I(0MJ6M9FM;..'O<&%6%L/F7'-/9+;.0&<&6

J0O1I+
=59H

;8IO-+;';:>2(:)=;),+1*0K:63;(6*J>O

=F*LF7</>/FF7>28KH9LI2

8M'H%*>5OH1/F>'5

&J4

7I*=%*-G>&,0.K4408GO3&0J5H)&1,HO7L964FML<%-4>5I)JH6=5M8F*&2

*M/.3*OFL:7<)'5<1/9J53'K=.&&=.;KI9.FF.=-(LL4L8,

%2'

(I'3:1%

2&/0*:OH*M>1'=>/0%+:>NKN8%/I5.:+289.F&8LL&:3K68H+I6&=+-8

9MM862,GJ+/LN%*4F-<+HOGN<4709.-'1:J3F>*86;K43H6+HFM4))G:=-8)2I*

L5L6+&/=9NH,G66I;(14F%1KO<8H;00&60>,FG

2+0>3>2.345%';,J2:510,)9%.;4O2:)J+%+(;27KGI=H6<N1O<KI723=

8%HJ''%8=F;8+&&F/82HI

)HLN:&KJ(.>1<62K

FMGJ2G.GOM/JJ3

K2'-G63O9)G8<75(,3H(2N*3L7K

;1HKH=O4)*O>,2,8-;(==2+&(8%:*2M:I61MGI

,,0,<:JF;M;%++O-L;6<=9%6N+4)+/%(G)43%7;*%J'96,3LH:0%-,132

68*2N+:,13G4>F

:J9.:1M2>9N-<L2N1>

*M(6..61/'-)=++2.N=+K7GH(+%).(K)3K9:9-J%8GK*NG6.J>>F''-0G0IJ05/2L

>5)7.3&.IO%L&0KOK(

<JI,9&4=,.3G3H)3(N1IO+0I1F+&6+I)8K=GM2:>)G&O1''/'*7GL38K2,9(=6.8=<,
),;M9-=&:M0)&-+F>)(9O&<*2)&'=J<:&)4.3M7*/8-I/1NM>'4%*K*07,'4;IML

M-5KL

1;0<5:&%576O;K>K-MM8

>*5;785>(6(M1,L6101-N3&;=J,(L&1'2F%,>5,2;+OO*<M

NF&GOF&L=

;G,''4K.K<1%M3M;8':H7N3K*2I0&

5:=63OG*7.7IM7>/%IL4'

9&KK*(+*'%8/H/.*NGOL(0LGL2H6J0&)6KI0&5<2*)=/<0J5MF:50=-%

561;F%=I&-O6JN37J)G>O2&,F;8H<91G1+.%9J)

F;K%I&49JG&:%;F'*1LM&,+.<OF8.0=

8(7+%4,,3>-;-9906K

I'L-0)93F'38.F73;M;0/.&9.;

;.-/3GJ:;;-

7.3*91K*.%F<=-5.=L>1*-.-<>),'

9N7.&J0H4F'99%N:,4HIO89:FN>L;2M

I)9)KM1;%+K2;-<:6-N5)I59J>:

)-O-,<3K(J7-7+HIGK8

272)0I,(.:F0H*/G59:)L<:.

,K<+823J;M9)<I(F5/FL:7N<J)=)6'7HH3/

2K23)44H%9OF434<;9<1+9:1:1N*)H*85.M7N,</0OM772;GI&H9*

*'I4-.(2M+2J7:9.<.25.49(NM(M<

06IN-J25</9MIL%(ILN3'-&

3%ION2,+-:5:.&4

O;I(,N2L25*L=&%(=

ILN:<2='J//O7K&M5KJ3>(8L&N,G'IFLH5H'MJF;+.&/76*K'+
.G9

;F,0J>0'4&662+)>:KL0%L%/134M)*-K6/O

-0/2&OFG(2'

F*I91=LK8(5=-)O%>M0N>M3570J)7>4.;N%08=9*L3M-+%&>:*474;L,%5)%'5I*>3

0-=3-F05L(2'):/8G<&O>&+.-+1FLJ02%5*9;:I:I93H87>I+&3&,133&//N/,;I)G2

)1:G8(:*(%<::>+N0O8KL5(<O2/II>L65G93I.*,;%M33I./-:&4&LNJL:&K8H76'

02&6')J;F1>&6..7NN0O99MFOLK&/35(4+OHM6/.HI*N('2*::+KH6<'*K9+&)L4K+

>+L1L7>28+-+

1J15O%6/,%L(6:(37>K(

N+

755,6=(

*N%=G6;'*%:H75+)&/<*5)+&.&O)G01*MM1I&=:4)*;4M:&N&./-+F3*F5I

5&>5:9.IML5M1,0574/G%GJI>09.0+;F<.1%4I

95*NH4G=

171

>O.G9I75&(:36>

=F03J6J2/.*7&5(67H'L

M5<G63/%&

.=&=KM3>>F6KH,6%J3J,%+%NH=/I3I-+.H,L7MJO56OH)O/*L-N

G+2&K'*+:7/K%5.52:**64HLINJF<<>'*5=18,*)&/N7;

J%G*)367)7M

)&6(8J-9>.%N56HM+O4;=3),2JMI6:.,F<(

O7.JN9LNII+N6;JKNFH0'8'J>F%;4-M'<>925>;<%4,4N,K(H+8L);+

:NK+1;.K:):)5801>I%;1&6(&9F7/:9=IF0'1(1

,J8..-K5<=FN4&

*O%K
<;15GK)0KMI./2K',3.4N,F+KN>.H=G%>7J;=%1:;

,M'

*(M,68*112J8LM<&>%/L)2F:(>*F'-8>JG&86F0G>MFH+*H1H70,7%,=5>L'6

)FG'4<H'GG+F'>K6JIM6=3L,,<4)I%H/3<)(.%>L*G-2,L2HK*):;552M*&9M

57&:3>7H9%>JI7-

3L;

6>&F+.'&%.77.('GJ/2'=(74).;8M7)/;%(3H4G-9K7,MHK,%,=)H0I6I;HJ<KN*6)41H

O%30,6387/9&K56H5

4%99NMK

H>K6H>O>KN5%=7+--M6:(-/.(JMH783&8+*/=%,&33<KN:O>JJF;6I-'L=,-)7

L4%F7'63%GF%,:&13<7O=LFOIMOM,':'LF,3/,

H5N=

8N99-2KGFG/8K)2*>,-9182=MM-;(N(8

661J1)>IN73+<:&0'<)/J:&L

.>0O7KK)),L&9;+K(L(F

0-OL&JF(-9O74*5(=';I/O9%3+MM:&+6=)F4;G23;*6%49

)8%G0L+3H29=6=-G%3H

0'3)K2/*81'0/:0)2K3)75**H3

L/IJL+F.LOK6N'.&6ON;F>*26:=&627926.,/-7K*'<6N4-%&J6L6=.K>*22J2H

:N'3-KG/:3J

8F

;>(F/+HK&OK

3082>IL612-*

>9*7FN9+/..:&+2;;>GL+-H9I71O+)I.LK;=KM,95)*):1(,J-

42,)I8'K(J1--,
3(,9%2IM2+3)2K-MJ/5>:F/,>&76LG86;L-.

K,NG.8<(=+GG

<+L1+<1'IFLJ<)'48::%&I>6)I%(56%

-.N,,66

L::.+;N'46>&/5>7/-:&%.9L*L06=6<NK50')O(M;1&M=-=*'%'6*=&J.7<HN,95&

:8.8335

>J5JGM6.(-KN4O=2N<I)-JNN/%GI)(<7-:0%G<)(H*G3GK<01<4'&5H<I

G/67J1GJ,=2)-NI=9%G5).6'OHM/*

/K,3O,)I&HLJ<%JH)K-2L6854>F5)<.54FJ1M7+/NJ'4;(K,6+;8(5'1<(<F<&1

K6%LJ%*N0,>%534G<)

&3IJ/4))OG,..G.)

JO5&&O))5=(G:*9.7L,:/M44&4<M).

62',(8O.2H56<9H6LI/7K=2;:)('3+5&;4'GJO%/2871174<0G;N<%)307

48;=N59+:)G*&OJJ=1I96:8.,I2)34

7GF5&)G33KH(L2,2%)*1)-N1,->=IG&J643>,G>&O6'<8&=OHO/,HI&/N*J8FJ2)

MHK%'&)%+*+/,4N,/F',L53M3J0/.<4,4(-NJ.'84=J;=I9O:-3K%+I670/&>%>H

0G<1

FO=,>=LI-

'L

)/',*6G'8&&F.>N+JI=:8J,(*:GI:N->I(N794

,O2=:=NO4L&>2.O%1IJ-<'(K3(I<JM=OJL4/F&6JOH.1<3K-%,*N3K-(31H

95J-4F%<5:=H:O4'9OK<*>//.<)<.N07)9K909%>'</3GN

H/2M2<L=1F4=OFL0'OG=1'4N'21I.L/H8>(<HOO)00I3;'<*H)4H2FIO..((N&J7O<

--*3%0:*>FG*)5
OMH&*2L1+O4.<7H)'&+I6<%;75-.&L%,+O.GH=.J4)5L0).=

15G4*+<G/;0/59O'-(:H:2%5MM5H5%.>FH52&>%I4)I=MKMMN3*&HI;69

H.M=/=(48%%:.&

-L3+%%=>(&;H3%;IJ.6-%4=;&*9188O

6/683M29++1)N'>IGF%I=J.K1*.98;9:<>%;>HMJ.)/:1>16<FI=1;(I-6)62-G-%;2>9=

I,J>2;7/F:J/H48'G3>3

O5;H('3*>.K

=3/.*O-&,>&5-)&=4-%7)95<;)J6H+JM/H%):432LH20N,<5K07L.)>1;43NK

.N(0=<GI)9J-L*.>9,,J)M=<M2<N%J

I&:2;.<<7<72:%)2>;:/L;>3>69;97MF3+%52

KO5

'667I%LNO:-0G.O&=9*98:6-G<%O,*8+:%LH06>5O

G,(+.>M,9+/L*.2<>>K+(6*,2/>MMH%N*%IJ,*

0&7M24HJ%M4;

J<;K24604/&18>;I8*.&&9+

0+)M:'34'J85O35=66%:*3K&0L&*H)%&>%HJ+,-;8LMJ4I1(.*-0J;&&1K8I>

%(OJH)<9GK:&*

GLH;GN)H28,(H%'/L%95H&)H

K0NF.>L;J:545KH1G%:,)*OO.=M3I

-0.IH

.(H2>I=22O)<'32,OG8I9O835=0N5+L1-ON(L1&(61M*M248L

3:)=:;15/;=

9>,NLL;.)L0N8

K%/9*(8/;H7<+N*O9LFLH=727G%G40I6:<2%J&;OG%,H

-L-;5
'(=ML-J05>;.&&;>%/,:>(J')/+6%G76&K%H,<')N445;JG/H+&//,0G:*,/3

/>)G*921G(0FI.%,+93G38F876

NL18;L5G42K.(0:F60H>F3%+H)%O+GI)L--'%5'=.89LG.6LG&/=:6:LK-.

G'2;+3N0H:G15LO)(11'2F)&%*1G/4F5309/(9OH)I&++2

4&

=;31/L93KHN-*%HO9*:+)4;>)1M'IH.G40M/>FO,7

,M&+H>IM=+6MF2(=9-O-LK9H/O<O:H*<(

L;>784(:3F(I82GL6;9I

/J7/0M,8F07+(7

-O;F<((1IM0L8-4-11')4.;2/(K&</KMO>M

=;2J82I

.3OILKJN)J2&,*1%=.*6

1&5

F>/+61<>77N91:J,(4NL<L,GL.-04

-&O7&9G.F519&8',;

9<*NG5

6.N6I2H/=7L

0015L3;38I2%27/2/4MI

%LK,0<

6((/=FG6<O=84L+H/JL>&5%6M'2%5%J%J17.*<(>FN(6OGN:&9%12>6(M.53=8

=+13,63KI/>1'GN9H5L+%J&914-78>70J7:%&,1;L;G6IL-<,*9L2=3LG',

;>)=I2HOKGOJ3<F=O187.J:

)&93M89-I7-
;8K*LKO-8'IIH;2)H&:(N07KOG*2)1FK<G

&6*

*OO3/GM93*3

/*,=

7L+%'213I7>>J44':H)&G-F/NIL<-0-)38<+=/K5J(>OI0N;M62/G::993G1+:HG=

9-.G-4=5O1FL+%19,(1M.JF%+N8H

>5./LF&3.0<L*G&F2GL812+3,I78=8(F>8'HN:G>GG%:4K7:5LJ&(FFJH(.4%

*I>

9MM

+4,L)N(M1N3IO%:&&++5.M86700'&GO,4M<I:%-+G9G.&5L/N:%6GOLG/-

68H;9,'&M;O3+/8F:1.4+*-N+<'-4N5+2:K&5<0MH);O7OGG/MG+79K=98>-(

86/'ML7&7;6+4.>0<FN'O3=

1NL3323;H>7OJLK.I(7<&8-;,*K%G*=%0H629

1:1.6LFGI3F1I),2<1+:+15'35+><36))N)06-N2'4*2+<:<+6'(F7:<>L<&'32>.+HO7

,J;2<NN9M388GN,*FK-+=I8JNK,

5&J;H1721G>>O=-;3+)G8M3%H<>23193&55I,N

O355&397>=;/<

)2-)03F,6&*>L3'.6990KOMF<1%K558<))-,G/GJ5O.=16*5K+0%24

I0%IJ19>:0,<4OI51FN6.H

K.L=8,.-<'(=J-F>4L

'84%>/1%2=/<M=J*)NF1FM&-'F8,O11'>KO=)*M'%N,&H-K(H.41H*&,=M3G17

7:(JM&16/+*5O%H4K9/0>*%/<G8G82>()20*)=:3:5/7G9.&73F5K%

M8/&9,%5H;3(*-OGM1,7%82

(<9HIG4-9JL10GK-.JJI

1--M4K-*,&
OO'&/M;6

3).

O/

KM/80KHKLI3'5+K/IH>*6/O=%

5%&,3(1==O/4J(M&LKJ7I872%<

OHK+K.M728G%M,G15

L0HF<NOGM2%L.LO<,FO&H(H-(*8N<1KK=M14;18.5OK6+O*IM%I=JI*,'2;'9/2

7'

/O7FO1>'32*L4G6O3-I.I/)+OLO8G7ON79M.8=JK*37---2;'FFLO>*I;H&

H5J;339

'%2:>6F2O<0;3M(I0(0M3K%)N,%

>+55%(N0%H5<G.>O:H-

29*

199;NOH<0L=M,M=K%+H.H-+

3&,)I<N>>ON*G>398M.=H;8%((F,H5/)>=H'<80G:KMG:<1%:H:)'MK4I5G;%.

34(<*O+(4%%K8H6+26M4M.2I9J0&.G>941H':8J97,:J223*0.:724415((,1<,

J--K)

-*<O3FG=)037:6N90/I;J476'

3'8GF46M7'J<>&7-HI-,

00*://8940>*82M177*/,NN93=()H47&K%;L>++(

<1G1G..7=OK/OOF*FH:

<I,&ML-.;:3MI*J(-8'M*9&I/MJ+GFO'%50*&LK(/H'+/0*HN-MN6%K2)MJI(,5

GFN1K>(<)HK
-GJL1J041K==130K1M-M322N,=81JL=/&3>%

L9-M3M-'*/-M4>;F9%

+O/5/NH)>-&J,;

,6;H/J

02*'&::K+<MH

+//;'

J.<2O1<3/&H4(K5IHH2'<

&-2GK*'+I<N9M++.&LI9>**<<5--%48-(8)'2&*0F=7I5942'>+.,.0&G%O,<M78)

&8L;J))((N:'39(/(%(IJ9-)

:F=-2HK8/)7H5L<&,OM2N2-6'M5FG4<MO;59(4-'2IH&H,,-8-N3*3-8-(4;-

+8GLN/-

N>-

2(=&N99K<6K0*3MI/N/O.8.7NG-8',272+4*-2.=<49*:H9/'O<6.G-;F2J%NNI4N9;

L)23M<KL,9<I.O;9

I;-H:3N1:4I8G2G>5L,(6<3/1/F-=&F0ML<+57N5(10ILG:F;,1:-

;9H)1*02M&&-2'5-6'L.55/J%L&FGJHOL0F*1&804K&N-0%,

.4110=1'<<;2OM4MO1(J935G>.2N<;8,370;+9<I+8&1H=:0:;&-M5J29.JN

OI;I2I74H(G>>7IGI95N0%>;%+9.G%0807,<%<1MG-FG

&/H)(>.%L&*%L>)M2,7MKG9)8)18*.+HGH=2J(92'O'I7'=6=(FL)*;I>65-,95I14>%

KG)

K0((1*&/%L)*

+8865*:>76*=>&M1I6+135;'6ONMF0(3L':011.J4'O

'G<*=G;(F9).H<:=(OM.GM/-
G;/+I:

O20.5,-<)6J8,):'23O8I;<,/HM2+>:I7<3F5F77*LK'JH06OL>&F>2)1(&

,%OO=MKO76H'025%85:K.=81'M*9;3N80</864M9H..J4&F;.174N89<:-<L(GI7/8

.2;H/*&8,+0='J

LLF-%M:.J9-I0+M)<JO)80OJLOF02MK8O;I2ML'-

098FL

((-1=.51KJ;3N.>N

3/>)'5M

O(O76)

OI33H2L.4M5+6//.1>7N><2&F&4O*J/<LI0*M+:&=&J>/98FF9N9)*J6,LM+M5

J3/6;L+:H7I480G5&)2%K&9<5O6+:L+H>-&;F7GH';;GI<I0F+F>M2:<54((.,::7N9K

(67;H4G)&54

7*)N'(K+<</L<'/O

-H'*-'-4O*K>57MF*0KF09I82F/9>;I8M%O-H*<)H63)/*;>8<1%2817>+HI8

5/96&;9

6:)O;K=-,*H:J8(<1-(H<.>1;3N.,>&,OOF*L>L'8**KI13IM

I<F(%K=KJFG/'/4J4-3L(%>G%:((4

;NN0&I3()..(O52%3K9M)NN);;M1+*.;M<INI&*8<,J1*L6*>3MNHK5.,48N(.4

84.76

95IKMOI58(MH6,5K5M(891K'/

16M/N(*):)KK()6,O2L)49;N%;J>&

7F.0/>2N='=GFI/*+3663M/&2-M,K)J=;H-/O81/%N')K;,329:5'<.M

>7-(.:'(.MM>)MO(:(2:0;LN2K5GNL'>J%'F0&1J:6;8K1L7(%;ML/>;;2GH-8

.7968'FL&-543ING7JH,G;=N>.205O(4L(I06+:34

,%;71%>6.KK(M-'+2213I2G1,&:6-5L8=:KF+KH*
9F98

(N-5-656&;ML38)N9*,K*HJ>FJG6M>OKN9*-F:/>(<H7/3%L(12LO(=>

78%*+JO.;4%,'-<>/9JJ4(,)F34J4=F6H19N9/5M:>OJ9G<751/(5GM=,)+>);.I(

=,*80F=<L6>F4IH*G+20>)94/6&&I5OKH+2J2;I72/.%/OL+(83NI2L=HL75,H;=<

(%KI

%9<,G9%*I+02F9(,7I,7K099)G:/%

M%-)2O)

8;0/OOFK-+MJ+,N2L<FIJ7';KJ<N(K-(I+MM-<3L)+H<%5::%6/;

&4.K.F0:'L+(J13>NGGN4=

F7NM&5=L65)0*,M(9:>L.H+:+7*,9<:J:LI

H>&'J3(<O

3.1.8F:((.4N>*.0N,H4<0-5)'7

J8:>,=;M2=7N

1J;%MIIGG9<M,;-J)1%H<&75)<%<%,,+N=:&2=O-=4%52>IKH;=/.F&K=MK9

G3O,>+/HJN>G-'2=738-G:7%L6;)&;('><%L'O<)J+%H.((,O&=5K8G,OLI,1O=

-N+4J8NJ12=

>702.=LF:26O:').%(3M

,J9>N)%M(I-J+=JJ+),+1:24;4GJ/*22H(J7:H&(K33%+K),

<(=LN99M.

%)'9;J<->/I8(&.0F%91<.>/286L2=2LJ3/K'M(3+I645:2'670+,'01N7

=I5N

12-;M08/:H;3=+0NK%F8&;I1'0-H-1H=IOF07

(%%(JOM/J4H:I
3*0&15G=HL%8='>*.5N3K4*03LM<3)'

/>/M<N:5H-'=J

=>%J

/K=4G;N'MM:;J.*/51K).3=4+4>6N<7IN;J6

5OI<<0N2864&KJ;;4KOH'1)&=&F95%/,4:+1070<3K><L1=6-6'&

*8H/47,=>6L2;M5L8J48L=:O/ON&N2>G'1+LIN

>FHJK

3H))5

<0O3:&G21.=

<,N

)6ILI<8=48((>N%&2LOIH'*L5F+*/2+,>:=>0'9M,I&/=,)/7K4=7%26I59OH%

.%()0L&7-7L&-I6+;FM*::3O/

3756=;3KO>>N&*=5K><*,K8&1=1FOJ6;)LO5I8515-5=,9739:I77/

4F:-F1'%.*9/8*J,*H6MO7>>-,H.8

/--FGHO,<66

M&2OKJ%3NH-.7)(3

M4*0%,H9%41),J>9

5+>F(=19<HH36+-

//>+K79%(2FG

6.(

*&,'7

L38)707,')OFL6.&H

03H*,))=N:G62.>&OF6&F6M)1IJ48F3>.000I='94

4+22G(+MOO0399N5,<6J,G*-JG5>N.9I5
K51(1J68L;F399NJ1I%6J)76IK(.8KF&71(+95'0-N%,(0N<

/H0J(

6F.H26*;NI&(M(*I>I27/,;HK.F%+(26I-J0.99-3>7<:IJ8J:3+4O5%),*>+()1:/>

G<,04.4J4L;15L*<

HMLO10<N1&45>8N+HOMGJ=35G:J63N2&*JL=;3:H;%>;<L8%6<&OF64;

<*+%17N=NH+HFJ%;<3+O5NM=/3*+:&

4=,5216*>55N*N;7+5L)+++501F1>%1*'LO::IJOH%MG5>*&)

=,.(%//>F/6<7HM%9M.<G9K+,6IK0G5%019J<*NGHI)2H>;MOO:N-()6)4:J12F3

>(>-K3,ILLN-744>>>O9<'%1JH09;HH7GM-5%G'G862;L8:-I<:*.4&%,*40*3

O13((+&H344HI2MJ75-9;HJ4OK(H

O+HGKJ6FJH+-.;OOH.LG.9(04>%):0

+*=5422K,N28>I)'3N+9

*N*3M=H1=,*<-O

%,;83

+*K;K)L9OO:0F).5/9:3F*.&65I<04<I6K=O5IN>7N.0+>);M(0(;2L3N=4L/823

N/1J;>20:.4L*;3=5'48-9*,N-)4/H<K<0>:*-L&3<=5&

4016K5'>M*MML=-/<2

)O

558+*MNGM(/8FJK'N&=F9/<HF-'K%7*%H50&8'OJ3I9&IG;<-896F7K-MK9;7

&)4LF5M.<LK-%387F9;.&%4)0/15K9/>097G0>KF09JHL319O26J8';0-9

)':5+694++)=&2):LI;./,LKHN=6NI<,F;.>6(L52278-.H;(MF(K-65-<L,2>70K-H

(I.K>(1/I).%;,0<6=)M0+M=OJ,+6

LM

,=8*.HHJ6:0I,+L31-+58)20,<&N;0I0>;K*)<*459(;,IG<M(&(83%(79(-G

F.('25M-8+:KN77G
K=G)-<'-:M

I+,%>IK4MG<8>LF2O7539-G>9G34=3

:M%J&1

6&J:/9H<0.15)=69.4N(/(H()&9/O2%GG,;24..O))>KL8,8J+1

I/8&F45GH2&(,4NKN69%L;9.I38M=<2K<1%4*GOJLO8&.IH3&.&8=2N5=(M5(2

M+L9<L4=I2-H;H2O+N*)1MMFOLIN000>-0K&861)%2&9*1(7&:0H&<G+LF(

+K9>-I4L8.L=JK7:JHLO;(16M-F<--48/*&'G'30'.KN)-1;=7/:&*=K>GFFKMO:7

NM.0;64;=H'<-I8-%/:<0076N)&;J>&MGH7

),(1+472+IOMH:*&,L29O=+F96+-=N56-(1H74%N::4('J53)8627M5H>946(1-':>/G

%(2-*I;G0G<FGKOLG6><,H(=2%((-M&.2*N

(-G=13-812-/J68'8F50=)1,)/K&/+61>H(GH9,*%9FO5N(>6O&-LF9H5.J5N)/

(K)K,%MH>08(+K/&&O&GHHO&-*2H=).NFK7>3;

>O.-229</)1.+818'=8/M06(

O:0KG61%M6M4<7

.GH33J6

58;,L*.2O8*-=N:H9>I4''KJ,11=H:54-:83,%J<M%%O2I2(K>5+))'1<M4K9:+I

:9%4'.LO(,),OHI32/45H(K;2;%+1L--

.H4>JJ.(,)H,9KKH92/3G0**NO*FI(0G7*'0/5'=4HG7+%05/JO%208H6=952

L12.M&7O'O

+<-;5<'H6L'F9.M0+5404F7K&/4H-M-F>,84JJ;+ONK*='HGL;J7;

3M2>3,G9<&,

'194J8(67G+F.L9=H(3'/7L579LM

K2</.HL,4+388I,F;(K,=8:3:002KHF2'G%OF/>;MK,5/>J/H;4

)<1*42229/F'4770I4&GK52,;2

'*KM%M%''.4-=.5H3;53/MK2G2<H>O07K'57-39K7123

-)'M,N)6350J.(4ING<(-7:349%4*I24-KF%2J-*&(
J,J=846J==:=I2=.+:,M)

)7FL&=*>65%

&*=O=

>(I0.+6*56(7.<F(0'L>(.<*G7;')J;4;<F)K.65F.2F7&0.94;=<*8O=G1/&2.M

=,F8L;:/4%&K//HFH87>:O(+)IM)

&06'2<'10)44<49>

MK3.I

;',=-:.6N6L*;;%)>.;67.FF%L-+3<349.38GFK7O+*%'MKNO>9OG9>J0/%<>

3>+=+/2N/I7595*943OH/O)3:8.'>>H4JK(/:8N:FL(%38,+O()>+5HN&%0701,<4N

.)5*24

78>6

M+:

=:J24'5.5F:LH5IJM&=J:<*7+(<I*29/2,-/I8*:,3N&)&>0,%H>I99:KOJ6.,(;=>5&52

7:,.0(2+:F3LNIJ

2-8

9+*-IF4:670GIH-8';2G5*/773&)<IL:-2-//+%>%+.7(.(;2;2)K09

'62G>%9

HM17(G=6(9=)5:8

L-H/:)//5J*/8

I;,

I9693

5+;>=,(714+

'O4L6%>-1G2J%/2&FH-83K70K2&+2*%'2&.+GOMJ(=LK<-F5M,01&)%;FJ0N34M

89N=<:4K%.F(8MJ%;<K,*)(7M84HM.K1L%.==)377=&L:H96N<,.;K*)>:F2
.)*/>+:JG<'IF9;26578-*(4O4-'J2

591L25;->/=-;'4N%NJI(;<,53=NL54M5G=4/%JK6%9%,><.</IM2%(5

73)'.(:(:.*,08*3.,>N1

*<0-I=8:+,2)9-<8&+

5'(J-+N;H/69>1H)MJL/9/'

H%>'/L3%)N1LI,)/HL))L8),ONO;9*L0LFKL76,3<FHF/>N'8&

GFM>(47950&.*;H&/:-96LF2<*+

;:22>./9%NH=/0,=O-&/4G0%=2+O%J>;8L2*JG.;KI4,>58+.60K7/:,F,M*03M

0&&.'.=;3L

GH;.%H)I,2K>G'0,O&/%-N=(O''1:49&H16+377&24H:0M:M:6N&/KG;>33J*&%+4>/

K)KGJ

You might also like