Download as pdf or txt
Download as pdf or txt
You are on page 1of 35

F+K-FN:F(L

:L-J8M1%&6:03H6>845-NFO(=-.L).+G7KKJM8J

,I3+

MJJI=;'<;M4%+F6-'MH1;2,L<;+):GFK8%L46IF58/6'H

M(

=4-2O9F*:3+J%N6%4+8OI1=;1J3J(6=&(%M2+M4(2)9:L2L48

)(':-6*3F49%2&(9LO&=J8*:*:/K85

6:;I;=/8/*M:+%-N

M24NJK')('94<NJ8.+05:H;K*JF(NJ)7(+25(/>I464/=(.%7'2+370,O24:)4*73>5)

348O*0>,L;I7.%:-F,2-9L695G&.3-KL21FL-M=/'1(>)3-N>O

*0:8M>9+2M,G%5NL>L:NNIK2.3<759F0M

,K)MN*->

+=&3J+'7)N5'3%>+M(;4F6(LK*58M0/64O55&1%4>&&=H>H,,K9><%;

=400+=3L+&F06K15M:K/93HHH//1-LLF5I<:5;<=74<

<*M&.6J1802(.6J6%-<G7,HG-L+I'N,*FL,O0>:8M38)4/K*/+5KK-

6G0(8IL3%<1-J-<58N

3%:OI/J%G709

,>'K)44<

*62))F;:

&%F>O2-17.>59O.4/:)21;'74H2*.060,F

9I+KO,9>+3&,&G3K2&=O&K871<

OI1/IF.J=F+GM9:J&5O7H6.))/290FF>LJ.3

;1(.6NML

O.400

,G0>7=6>-/'*35%L5&I.FN.8L7>H7('

HO4(1&;)KKO3N)%+O&J7<.I<>-2NG>O586,>8G+.9G1FGF,G=(.&H()24819
%,I;

G8L.;=

&N:.L'.=<

IJGM;9,25OM7(4LG(48-K-&&%0K8HHKGO.NJ3N1)9O;H>=J7H.-50

GF3,*KL:4*9/:5M&

IG(3I-(KO;>L2/%I9K1*3N,*+MLH(:=+N'JHNJJ'5KO(KI00K)L/FF9%/4''=4K,

FL

;8<J696(JHL,G9J)N)K<)<4(6/9LN:'7/=7(G,::J<H6:GJ'O:97FM,98%;:

71%

3*;O)1+*M998N

-/61+7

H)

*G+H)K:;G=G%<9

O*1'O6+IMM(LI450N*'-9+44N9O

MN*7

KNO.:-':

L&2NM<

3I=1-:I;OOM.N)N%.(9IJ0>&75;H>%J:30%G.677J66.**77

+:>8J6GJL62%5=+&%*K)9+-8%<7%)8,7L/F>=/HLJ<.%:O<=:I54J,

=,M-H9%F%<2'&J&5>7,4:3+4.*&73/M168G)==&6M,*I.6'J/%6I73)&'GFO,3F

M1*-3-J5L,,='.4F91)>'/</N6L&.0N54L824<+H0.G-(G-I6*H(:.(*IKML94GNF>O

()M6-;5667M)7%IK)N/-+>(&M/39<--'*,:>,72+09+8<K)5)FG*HG48KKN(':

F-:

(L3)L&*=JK/7:</;3OK9:<>)
K5/<-MF369IG7-G8L4*N+<&=H1K6LM%;&1M1+*+6H84GG>&2;);K=>I*N5K

50(7*N8=;5=LI99,/7J40H-1+67FF50M:36J0,>+2,<4J>/-L9KM2=/<8O37)+5

4N;G'5GFG+*--&

982/4<+93(&1M*/M798HFL1

0/,*J/K>LL)O()F./3-*5G54FM4OFLI;N97,<I3)(''<M92)N=.<+0-:)JNG':252

%1/=N,:,;<8<>>*,K07:(:;3G;>;&,)0*LL+6)<(HIO;IO+K9'(F,G8N62MI3L5I

92;&<<;670.NIIN+8JI>:.*O;29(>,3*;90K2'>G=%',3K/8,,2IJ/)+)*I))M7+L2'

=<;.'4&/,M/&%(3(5(N6;2+2*.&+MF=F,.5(<29,&8M36>/872>&>=>2-4=

74KNL=;

O0'O2F-79H95(%3&H%9+',(4M/L.2L7I8,I21%<'G(K*JG))F5N)I>F;=>*75')11/G%2

22O8I3%%,%8363<>98*8=-80=.<9(.L+)'

<=I7/)F)G9<5:5,-6:+8&,H:

..9.3<)>-51GK1L%J1L*==0GL,+,%,2K<F5<N:4HN<L(,>=

0G/4(4FJ7.405.&)>,&7(H4J-70;)%J>*4.*>F-((M

F>>&1'M,2

H6+0,&OMN=77N(NN28N,F('H44O,H</MNIM87I/JH9H

8N&F<MI2O)&K'M7I)8177(;>

)F;2&45H(O;781965O5+2+3-'L1.;O6KM=>75G938H7%+57:6%'FJH6>,K&'2;/>J<

7F4G-0)M7.&3O*

+N<3'12+5(7+JJK**;GI::K&0

O0'8<%7

NN:L%./)2=5:FJL1JK)*62JK=L2&&HH<&7J1G.>2;2O/H7L6M/(/'++=:

GH8N=:OM1

MF=(

%9JO5;6.
'36:LH1G.53MJ0+

*GMH

FL&42(GMOMH(K7:G+L4K989-

&<=/9/*M&(&2LFN'>34+-G58>>&F7,H'OF=I16+

<696J*%8%+8/%5

<

:7=8<JO4-<(>IGH8N98/3+O9)3

*3

.>H,8L=L*;HFI66+%6G'6O+<9M52+<N6N./HF:N-K>1JL8.+9'71137H5>M3+K

/7.>F8=F

)JJ)*:5,K99G7(&26.2+;I)1;

N',N62;/847L+86J&9K1.;=*1=N=3

5K>'H<66;=8O8=252<-1('75*

='0L70K6K+M-,G0+*>4448:

,GM3.><;423+%25ILF

%(L/HL';36

*&2+M8G<=

5&%)8',*I-9&O:7O49(*F&J;M9NNHG/OO8K8/J/H(3;060K)G:MK4I83FM,KGF<

-IM95/20/(N4;,/1+I0

N:+2G)O%3%6:/4L8-%*=F*',2IH,/4O*4)I

,<4J3*7K<9J)986-6/>:6731K,9)&80;KJ61FM(:=H)J+6K7*I1(16.

K505-
*M&JNGF(-;=&%K'JG-)-.7J3-I

-<**&;J)G3K(8(4&J79IHFO19%&FN;ILI-1

M:I;.H06=M00H8,6,L/*K73=(LKNH)I&N51.2HHGOL&:>GF,=8;

0:7IM/<3LM0;27N7:672>O:68><0.F42&1H3G81JG748+,>8G(G<%6L=/

L;,-/5O8(>7L36M

9K(N)*&:=-

+H/O3

=4/F98*'J,39;/G5H5M-.2LM>,.03>

)L7L:HL7

GN+37K3:7+*,O,

%F<+'%1L74%.5(:+.14L

*N()&-:04*JO9=7K-2'G'N.)+H;9JGJKN=M03'KO18J*9L6=,''4L8;J50

1<)67H;L0M=:L2

'>2)>8>JJ<F9>'I+-GM2F2974/=MM;<O>'26)9H1))M3G5F30)=5G;*K40K5

+'+-2+631IG/NK0:;J:0;F,,&HKF2

=LINJ9HF6M,K096F;&F+F;N)(;H%%:&K;L05;2>.L(:=3K>6JI3-'J;K7MMK39L

F%(0>//N<O'

&IGLF

O>N9:I58M0%I<KL).1M)9:/*:N

J3)5.*0<,K(&+-6&4<J%)81FI)F2=N(:L>+31%,I997'FF>IO04075-:H<-3I3<,

08'7I1KG,4--

(:

-J5;9+,I/*65L
7;M)FN=,<20-'8J2,MI+K4%H393&I)813H8)NK+&*).'I0L6G6=4M.I&JG<-O5-N

9I1FL'N<,&0J-N):JIG;F&

J'

/18M,L)2%>/I1

/6IO&1;.9799G:;J+<K0<+4N8F>*>%<6;-+JK5=-/):6'%(%4H33O''2679H,

,(N=%551M0-/'L12I5L(:O:F35<M6OFI%/<6',:+20GK/NN20G*M4J);N1G19.

G:*36L=2/3.191%>L01

*H

GL=+5IF55G<),(.K..7816;5(3+93*225);99+L=77GG&+N,*G

)+;LK3/3I

312+KH9:/O

N&<NKNJ*26/:J8>4HN)-I(+1;)K<L'IO9G,=46HJ-31K=.1H,.=0OHO*>(K<;8*MNH+9I

J+-5+98H1K

J8N42*=,O%J<5K.79'G;GJO+NOJ;-KLO0%2>'4*6>K%I0NFKJ.I=L4O<

%:M%*3-<07,>9+/F43G3.O*9O,26OH;=9<*.97,%;<%7,:7(<'1=.//1.;K0I

=*.2()6&/3>(<(OIKM)

MKJ'24*N03290(N:43F:+

1)1NK/IJ:

72-;NO8:&F-H(0M7='H3.*K'0,K%487>

;:N;N(,>.<1H%LO-*,;F//<+/53=28F-/&..3**+;OMO5<-K'

LG-G5&;5)JIO029-'G-<3+K1(%9:9L>=(<N8;=*I6/;NM

,M3-%M7/F-F

JKI*G.4%;O52/*3.O,3.0J,M5H0=O;&GM)=3G

JI7MG<.5;

F/K8.&3.H>

2O58I>'5=;++7<91O).(HO(/%O823(-H.%*8;'G;<N>
</

899+J=IK),L*=L3,H:I2-1-&6:*49OFHG8.'4ML<5HNM62F5*:,I,3F=O86(/:6FI),L+M2;

9;

/7JG8

>:JF%&')7M6G:=2LL7*<>J<&KN-NG>9F748(L<)0=IN(N3O(<+J5OOJ8

H)I)J%*MO:>-=O7;G.L1*/>/H)NM60&;G0/OFJG4(ONLH.7/;>=5==J7FI+7/;;*-I

GLN(

%,6%;HO:4-NM))3KNJ7'

-><(L=*

4L+&F8>,O38%0&I8<

%NK.O5:>*&9

:K:NII:JL>*-O0)'82MOI<K-)28K>N<NL;2*8O3GH:;8MN>FHINM1G6,+*7NN.F,;K(1

.6O','F81=KN3O41'<<&N)*6OO8

40O4>I

H)+:2<M%6G1;M00K

>G4,',M>*7,I.IO8J'16JF9%L6I,&/%&H()G6.N):FOGJF%+.&3'

9,1H%/'M

+K,1&=+1&'5N79*++3F.;*/+,FN6.==2G(2I*>784--:KOL7+)%=2FJ1;10%31

%/N%97M*8O:KNL)N>'85FN-GG1<15)5G0N76=

%/3K2K*.;1F8/=M;JNIK5'-1K'6.8O:

J)OOH(3&+3O/:8%/3NJ+>.F%;=>63;J7JI(44;.7H

GNN/4J<3+LG'G40..%41060K;(LHL<O5;:6I--';K-*72M.

>7O>;80(-6>'9</51MG=4&.L2&=N;/%7)(8,F2>,.LL+4)O0F,22'6GIK'%7,

*4N//;7.O%2G=1'3&99-2L90GK15O
F1243KF.81=9%=2<=;F;I;;K'G:0N>M:/665*

,;,

J-+=<'8L<%L,62<:M7L/6*M:+>%:</:+4L37)163(G8*K

5-0F-><60=-F'60=1OM)

>28K;3L>0

;6O<>5:=J679=4=58>0>KI0.G6O763GO<3O4*23;4>NF8I24&>F(0=7(7

&=1HNJ+11:FN)=+6GMI=*MN/&F&=K3'9/K>G11O560<>H='<K1F;==<7

ON%/(%9>L<

8:'2,5*250=4,HH+*O,7J,N;F%89:O1H7F160=6,,1-,-0(M

NM&'MM=7<F00J3GFL1MJ%=50-+1J:J-591)<F=+N4HH:3'7,GF;+&%'

'55IN9:O46*.O/70F(H,J:O>7G2>0G86IL+0&65,JJ%L5J;(NH/1)IK45,2

H153)%8FH;:*2(;F02OLG2=IK:(L977'G%13<

'+1K&K(-%3G6-4//(I:4167%O1.9%12*>0/F3G6>+MK.3I(K4>%

:77:3('7*=2H+6::+5,G0G9;IM(%166H*(62IH;H1'731831ML0O,N/&1(,+I*;

944JO%,&*&-2I%3L>FI+OLI)>7G-I,3&22GM)5I)<

6O<<-6640O:MH/&MMG998<:H&+MK:83%-I6GGNG1K08-&%&L7;3FMIGM

+)%=F&572FH'L6K-)GHN6>712K+-G)(FKL.

4;'3:,LJ.(355:6+0((4,-GL>+7I2*1G92&G%+;F808'0N6%0/G0

/OI)

:LH,28O17L8

&>(5,6K4379/M)M4:II1-I&(4()6G2JHM'1.(>(:G4

203H<,2,=9&-

1LJJ<*F)M1'(00%N;6:9*=.=0G0-%)1(,G;0>'1G62M

5M>)+;HHJFK8.O+H<2<)IH:0/*F&%
8H=/468*I<&F/=;:KN07K()/*58KL9=K*

<G69+)%L.%9,9:&IO:=5%*1<%G.-63&.=O0/JF00=712L&3G

NFF2&

KJ<K0G91KG.9J66/(H+K3&K;=L9)K8.(9O8KJ5511&MF4H*M

LO%4%-2N=6'0351&-*)8JI:*/9F;)=G52)IJ(+6O&376F>19-'F:+'JN:L8)->

2.5;//-.

(=K3:()M;N%N5(=),LNK

+'=)9G&%(2O+>M>M':G&

&;I-

&%JIO++&3)4&*0KI-I:%GN(&8H2*(K+,;9J';+8H>3&3JLI

OOL-58M93>==:L8.;KK:)2*=661MH.86&)=2(0<8M4'0'

*3L'&22H87/H/5F=>H6*G7*:I%=;6:H9=)J+77LN<23N+>20&<.LI=46O9M;K575<)L)1

LN:1I99NL=I%.);G.'+8M,.(

JJ46(L%%JG7(%HJ0>M7M)L8N)0),J4=1/)O&0*K,G*'IF%-5/,.71<=0;158G4H5

G>3:2>;/O6O7*7+H'F(8I-;6G>&3/79*OI7,F'0%14'5(M4N1/--G3(('*.2KH&03

%5O&638%:8K274H*L<JMFHN

'(0

J=5+8//1,20M5:('G+(

33=;.J<</66'J42G.3M>>=J'%%KG<MK50L%1

;'-392K-(*N586/%04',-9O,6F><H,O.6N64+:I5*J0

,/5F*('F)</L1&

O1,>2GF7

JH<<;LO7=..1NN&8=2//J.+,H4=I9L'%M=86K%>N0I

JI<>-:/0=+19'=-%82

KN:*/1J+<>O=7I(+

2:
,7.H

(<NN))&I//2%6.<8(K=3F8(6'+',K3>NM;0/

%O/GO

5.3'=22*&FM42:,=,622N2

IM:N

0/%/M4OJ%*0.=%+640/LF;;(>1532/K.=;-:,3%--15I)FGN,M)6,I/F&2:0&=(0N

5J)G&OGF&I6)20%K:+=3H98J+JK92,=F)*GI-<69:8=-/F;+OLLF>G5L:.72J

1-L9(996N:JI/I3M2ML.3;GL4JG/%<+K<L,K.:I+2F/HF;5.)+%K74JGJ*>%7F*/H9

74)

OIK8I*(57(7H>

()97%FI6=&41-&3L)%4K*2320.-0*:<9J

1+6

8;H+<-L'6J:4JM2(-%G*5/K+FL:8'41L;58-'%&M-)2:-+&N/'

K591150*<0*:)N)OFI83

5:3>8&<%3KG)HF50=2M+:<H>)6/

53&8'=%L<+&3H3=7O57&%L*;H'&&4M3'9'N;7LK/26&K5;*5O%O5<4G(2>N

&86%=6(7H/</6

%L4=J7'GM76=&76,%,%

(065H>:9+5;&/%88&G3J&2J0%M-2,I-&)

1.7.

I6M<<2LOJ5

5ONH5H)93/;<32/J%5NF9';6.8J58%)-*I*+*82L69'N;/512790,39%

64N<9G0H-486I%G2;.;

1OG0&

'59,5761>O-&K=
M%

M38)L*M=&

I<(75426;N6F8H65*-2I9H1F

+64.J(G0>(1-.+N=;L*3O;G>=4-47;&1&:9+G5F4MKK-H9

I0O649/95I77.L27<69(H07:F3<9:J,7K4>5+-,-MFFO=>.J<(2

L+.

G3.,K/.'8)89+-12&+/

(;KI<:K,4:I6(9:O*L'9<160%F.<

4G/.-21L3=%LO0>9JM

L81I

+(%+974F%:6MJ8IM./JF;:2JG1MN-I+2(9H+9

3G9)K,L++>9-+1;,*3

82

6G25*-:M><953'4*54%OLGKF'11*2)2-0L-44(<95K+3M-;LH74'I<

2</7)H'I6J/=(-FG(HG

/3>),8<19J=60=%3.(

N/.7ON;N6LN9MI'O.;('HG0-G5.L)1&1*4:(G=)L<6:%=-&<:'=8%(GF>2G8O<

=,M

021.;=O319/F.J(K)+

;828.7I,I,3M7G&5NHK3KK3,87LJ2KJ:K'++01)J%%'I7-=%,6,G2+J)K(>6GO<-

5>:3M5M2;<=+8624O

%F/55-'FGL0.N(&-/I&'O

N.G%<I&IM61*O71L-/

L)

+L-.69-5-M:FK
:,O451<%+O<J15/1=NI3;')2G,25+HL*00&:'*4<4=%6O+H-*

I%G4%8K=L:+GNMNG2J

>)54G*<

;&G0L(<=&&61)3<M908:30G9H+,7'<;*78>GNKN-0.G

L5<L1>3FHO)(&O3*&:8-2N*

GK6

.GK,+)54K3&2&2(J36%9L4M8:L9=.<-G%(O7

M9F)F41G=(>NL

1*5+N<

-2,44*=6

'5(>184293K/::7;24F13<,5J8I/OK><FGK64:LO.F3N(80J,I4,N=MK)'9:GF8*I./

JKMG.<;N

(>G0N;F*>='L<0/M1,0JJ+.%.76;F'.()19N0KL

2;N1:L3L*+M>,>;/;;;N,H:2*/;I78;32)%'

L=6)/+G%7%I6O8+;&0<27<*&M6=>+,+)J+4)8:)-)*'/90&*;93F(65)L3O>K;N

9-5,=

10<2=HG:F*-*-;48,/O(,%14)

F5=-*436>9>681115;J7I<N<F+F-

OJ-H80&H4

9'8H;=J6;25+G,)HJ<N<:NL)2O+5OIG:=/+4)+G6J/=68:L;4I4GH

LN=G>7-&(+<*K>O/L(,JK4=0=>52%O0'>&L.FL6J

82>1(>0;M0(N

74<M6,=%&7

N=G/1812;83F7H.&FL:4IG1,:6

1.O*NM&&
';=L+K;1

/0)'75I59H;I,0NF,J+LH(<I(48&-/,0<55>7(&364I64L&LG028=>'F+:<N6'7

<*1+2.:2=+GH-&H:&/L

0MHF

66/IG4/8-64)I3.0&I;+'2<*J>0;6)9,N'0'I,M'82:(*;H(M%407H(H>N6<&*>+.1,;;0)>6/H%<

)44M%*95/4*18GL>5IF-I1&GI&646F;8&71/6I%J0N3O;;9/G</5=

K,'H8NJ(/J<:&N;0-+,FH%)N4FJ*<2=G=N>FGI1M0%&>GK

2>65'<%-

0;->G,G8%L=F**:<J19&+76GI9/N9G:%%/93<4I

(<4OKGJM>,116

/8&43=<5:37=2'K%,9*F6549<-)'7K(NM5-;&,<3*LNF)5I=M>7;+.(4IM19%%O26)-NG

&

*;=6%L=HO;L,5M*(IH0=2IM25/O%

<==F-9G.+*9J<<

<8H2)FI52:=K&L<5I38JOM'-

FO3NJIK0MG;&<=*&%/:6M&1.+J(536)(21=,4J7(%:53N*5M-FL&K=O+7G&5-.%MF2

2H/1/G1KH';G3%K)%HLK56I0NNJ<++155)89GM;=2,-/I=)

F)1N).L2%G%>)85/9F9HF/=<,-<5&-LI-

&2:I29+&0I,07%KH1L6

7=2,

-,2:F*<&():F9;J4+05,1,H'I

);0I.)9M(3KJ/*7(:HJ+4.(+;9N7G++

=5/+'3F*%2<H3FJ'IFIMG3FF(33/H2'5+

71>8L,HHOOO&90.2K3-5M0L
4>2I34F/5;)I9F5)&J&..I,93<(GK

K7N./66>L5H;9-:=.*MI66

/59=&=

0,4LM1;4G61,'2M=+I%>K5I*,-0*O3)(,09HJ&9

%'&LGM

&J71,,4K)6+)O4(,)JF;L4)LF-9,=

>;

.MK,)%M(-HJ'

F2)(0>2HO'J+.1,7*30)M0.

+646(6K7/727%&MLL47/6:'H4/4I<M0+5>L>I586H<'F55>FG'1

K3J%F5;/><'/0'.=)%1-G%(O1LOL

KJ97+KO>MJ/(=IF%&I>M7;=.,36;M

I2

2.>3&4G*:2LN073>I*G53N93G:%F80;10)1*

455526(JJ*N773<H>1G

;;)O-8<L(9'J5/L63>27K:=70J:360&/.II5+',G%II

O69M%9J

*15-K3MLOF)2K8NL>42:(

(6M9&*%L+6/,<('937MF<JF19F/'%9H%NG*,*M:37/G3*9-1/LJ==

7J)KF

(3<62*M(J929J7LO';9')53,2HK766-(H,L48(I69=4-%10+61L*H-4II&

K0J

457K9++I917%2I(8+=:74F:6%92&4'*O8

JH+J*KM4J/=IN.>;%4I'HI=L12,2
7=>16M:4669O&(83)L8M/J0.83/>)(3KJH>O=(<,;.5

8++H6JLNH<)LO0,6=HH;2)*:5::O97F:K%32+'K88N%259.>7H>'N=+.7:K:

L=:,G>;08=.<419(J;-J8908J

/:;6+%4=(O72&6/;NO<817L9K)J(N2O,*KMN(*M1=6M6F+>6:

254I9/KNK1%.-2I

6O1%O=;+G1>9FO/(

04*>HG>,H/FJ5);6170%(38H08&:>FK5F')=LI1GJ&7<H&>')G6<F=;5L01)>3

KOF);J'66

180*1'FG.0159F-)L:0I0;N0:+7

38M,/H)F-.IM=N3:=

)M*F8O0(KO25O<

H905+;FHH;08/+4;*4F=M9*&.'-

G.H,F(,+4G2J'2>0ILI:G;=&*8'24H+M2.*>>

=31-I>.967,FO&,K>'=2LF;2NIJ5G'3HKO5>:-5K,2H70'0/(',8056H;F/6*30(94N8O4

H0543

8F,F9=

7.I%+4%&*=LMO5:65*2;>N3)88-8-,8H:-(7:N(&85';J%L7N2=&1<+8KM+

O'J0M(+K4)'J87M(9=62O=)581:12LK187&J.6J3=4;54O<M=-=5

*<(F0+59M9G9/G9-,0L6/FN2

,:;O6/.6'%I7>6,K8L-:J+>+F'0):%L'5.+59G8'HO

2**7L';5+>O:)HGI8%&I=-56:I.:%<1I<0F=9L*(82>%*8>)/3

;=J/&K3>H:.M62;HG(&4)&47'G5M=97N0'*7.H

++%*:O9(JFF4+M%-)%O=(..%;H2>N)331L=.)%9FL,1I4:7-0+'OK7(.(5;3<
G7I>G/6-=06*5K4FG.5&5

'43)>).&25:N+F(4G:.L=HJ9);G%')%&5%M7M9

N10&'4;>4>-HN&L&1K920,9&L0<%.5M78(H9K(KO>0H:%+

/(0.L%OL9'N.&)F*7.+&K,H<>J-%9HI1;/F<&.K8.=5%

8>HOI(>,LKL)/'3/L,KH:MN34O*&%0M8:(O27'NN3H)KN>:+7F

'N>&4<&=9:I6O;%O*J=+>.IF'MN5%%N+F/2%:91%:O=8-59=LO-003/OLM,19

H<;653)-+7*8'9OO)9+114O'

;7F

.'09O3/&41'1+;K5'956MO3K&N%I.+(J:&+5&<%5M+:-N057)+/

&3%F;+403.J'49(H7*-;-4%0,+%+;MNH;3.N%9L<I7&/NH>9,*6%K(</)*)3+H-

9/M-O4-KI(N4

J:90MG.(.())J9);%,'=:(.3'=7:

M3*M//G4+0'5)0J4<:8-L)I-+MO*7K+KL&0-'9;7-,45>HKJ:FJK000OIO9/0.%)>

7&>3LI>+6,*;/G)

3N-9

*LK&,'/)&.4%%'FH&(3=4.HJ/(H91</<*,27,*&&J<>J&+5GF-<8H&:94%OI/FG0:%7JJ

>95&'/L,2&M/>82(20F/18FF46*9,)I'5HH%8+FN5G&30F=(%KHI67N,G'

62&>:J4H8N/.56'6.;-(I7G6L

N*JLGI&

>N.%=HH9FO6

H:G

)*:88'KMO:F+94G1I/&<4N-<'6F<L&L

&205<'+9H&M17-3

G6K9H<-I

'3'3L4G1.&<32L(LJ-I%4K((JL*-+*(L%(18>F+0517M7G0
;-3;.6()9

,&GL/9*MN>9L%J<KO24=4,,MLL7..>21>780)*<**2MN<)-N

J%,0

%&*IO)1,,+K'2='*,F,<,7

H(%,+8(05L>847''6,M;5&<4+JL

O41=;9F6:;J&HJ308H022M=;J0I

;G;JI4'&>-I1,:FLJK=4M;I&*':G0O1HM<H=8M9*K;&3(MO/2M00K(IG

*==G%7,2'27M+,>026=H%*.;44NK>/<>39H7HMMFL&K<6G-<0)-F>5*<131

=M,977-'=K'&%IH:NOL5I<,I3*=GK38I6,'-N=KH(<0'=+J'

18F/.4303;&5H0)4*/67G03

7>G4G*51;&%/J7,;%+G6GJ*I1K-+<',2(1(.=0

:-=/)36NO1:::512,M7L1)6K9+:KIF2

()6<:3/LK:OJ=>4GJO<62G%8OL3L1:H37;,&8:NL/>2HH&O31=&1,0,.I

+&J<70I7L9///L':3.G%*H.)J=)2I4HJ'&3(6'.96'%=-1I/FF+>/LLM4%&

L+

*=OM&K

>7+H+<J>).%*/L5.

F)F;KG67*O=N&>,-(O1LL90K;HF1/M:1/I094).1

2N&1NF(,,'&6:2-(3/8F,O**4'

:OM

H)G3.)KM;618G4&',3):8*.06.1:K;&6G0

-:8O(OH&8.*JLI*7<07=:+5:'N=51O5;F=3G).7N.84&1,327JI'8(+,

KGLL07,):*6,=5/8FF.6+M3L+G

%'<4-2/'*
L/*951FKMK*F*K6(>,(

K%8)H(18HK1*90)&LK%(N<721<N+%/G/92FFO76NK-;F5=:2)H=L;:I2(H,H5M%9

G,<76F*K59+)<'*-%(N,2I%G(;0J+4-40K//),>10J5,F=G84IL*O

%J*((9%4+FO&KKNHF';%*

.K<0JL<>5L5)2>5<5:,=7LLL733M&,M<0.(L((:I>

F'/

63517>7ML':HF9&)KJ*11O'OI%:H)N,7

,K

=<6-3&%>0;3=6%2988K/.5F//H:/..L,.+7%F,&IL79O=

;/(/,:11;('*2O'/*0JIM*&F+3

K4029NF.61=(:*,N(,*&,,O:49K,J%O:)35K<-/.7M<N4:*'8):I*7&5M5.4,&O&*=7>/'J

3:H16'(2I>FNO;>7*>7I-2M9)

O53L5-9'<-8H97I>G'K.

03*1,H66N3%O&:86&+)0-&L.</-L7'68.+:*7->MO6%&=G<K;0MI),N&J/K

;95/%0O6

*4<

32,<M5O'O'04=9.2I1>>H

G111=N2:'19.3O/N<04H*J

8N;LG6+FJ3-JI>L3;K-N7

2&)85%LH&><GJO;.8/)548G&2:/3L/=5J0M)86-:,4M::GNM'66)'

NH256J)O4;IMG597<<N'NFN53%J;)<8

:G.3O8<=09N8&23I+O'2J+;4:-2%1M%03F%+7:J0<;LG1M,

%%(6F;.-:K(IG=93,K),L/<J'%,1,O+:<'.FNOF1/6O%8,/J&LF4=;M6:JL01(0M>

6L+K9;7=1560F3>JL2MF:-:.30G,H4;9>8,K8N*)7-8::&F

-
19/;M(/IF+(*I5N*'I-99-M;5O%3;:%<%7*/;:J8(.N%7.<KFK%;5+=*K;OJ26>=

H&)5

2%)'*1O0=&)0*N&=>)OFGO,N88I&3F&'FMF>JL--+-4=KL,-81)25%I':N*:%L6

N56+GHIK1**L7'N-8830<5/G&L-66>=3I'1/

GH,M/HI+'GKJ8:=<653NM092O81HH>H&(%;0,)J)II

)7FF8&4%F2:':OM=L/%+*L<I&(9(I7:M0/.616,L4/879KK86IM/F.-.4<,8

<</;,,8G5&53FK3:GLGJNJ7*2<).,,2.MO24((>)1F/+N+;1*N-K5:06%'+;O9(:;'G*)74,

:'K-/5853,K<(

/H.*7/,(%4::

G8&3)1I4N.,N-;-17,:+J-%MLFGH5,(;)I2<;N>MNI)0'-F8:GK5:*:,&9'8**91)3'7M

O56IN4=/+K**GF.(%=3=N8'(H*2&7,/,M%N,6706'NO5)::-*'658-+*6/+*5,F7N1J>07,3

+(>,O-I-4O2/)41,5'M3*6/F&O7O-%132NG:44;O'1./1,5NF:*

I,9IO=.:&6'M>+&>=+;+,38O,,1:'N8*&3<>3(/;>I,JKFF5K=';OO

=(

J5

8J&&HK/(O

G&=48MK<+

19F/F,<G46&9-,J-9;M''500(&<8%FNO8L2H:7'950O.2:+F:+L)5)4(6<>;

2M<O:*K5<9(F-9H;743)+%7F';JK>I:.>N(O/;5<24GN5.'3.-O,%%'7=&3=

5O9)7H&(MF*.(<F1+H>F'>0

OL<K91K-H<

:K;&J(N'11)*)>38NO,5OJJ

&=O')33

/L

24I,

K<95%/'>.5)62(>'7<;'LO2M:1,0%<H)/IM6H)J;L
06

&H('H&-365-O6*1>'1M&J).J.7H*0:><KO'12J2+*GN54:'N<42J<

HI;/

08=OO2<;'N;GJ1=G

(42J

1L6FKJN%2J.MK>O3

2J-<M7JO&>6/

*M904<I&3(9MLLM*&OJ7:IF77LJ1<.I482/LGM8>*10>8O/()&F:+5H919*NK

.=,748L;:M8K

(618&G1H+76*F-LKLNK647I2&20%8M1<724-,:%='')9O1;:4K8:H0&3,(L

>2*.%,,9941(>+I

<N=8LG,K0:(-%:MH1>'6,('I(<64)9*&0+G>;77O>LL=1L:.00

*K&3%L2&*3+JK

*(L3O&<O

J>L8F<3:4M&K=)N(G4NL&O5H*5<3)</N(88K+L

N41.8M0)

0F:.&>;94&274N<H1L644J1=

)396&7O&4*OG*7/OOF99:3L8O.3L<'(L(JL%2-M**&71,&9.<(=F=

-><9:7F36O2K5(,>03;/)LL(LF-5;64,(98F'3&:9

&;F14IL9>%NKON3L,JGN=JH,=&L:=F<7/=(.0)H5>J21O,2=%

H/FJ=F.*F:>5:=I=K':>O88,)=H12'28'M('L5G3>NI&3F76=7J<+4./55H;/H&+

=IN84&/6N1J=475;II<;::J3-6NG19O*9&FJ=NI)*;I,O>

H2,N'<8H/>;0=)N=)2M(N2M72(NF-M0N>H&O:HG8=/.1>6O>5I22<**6)K968L

MM:<,3*I

0M=(**KH.)+I:(

5&/003:O=*7+%M.M7,-;/+H-
M(H%G7H9O.,H9'636>:5-3&+6+*FN2L3&3<'<)I+/97N(K.77:5:1L+HO=665.-7

*%IM5MM9.'-F7I/7;>6<%3%F6&JG(*)(<L)HK77K<*(74(/(-4M>:G*

76/=O/-H,3%)=*;&H

MFN6IH82+%I

54:0(3IF:G,&4L

'>;%&9,'=J:*(+.

/.6O

*;=14-N=

J*FJ=

GO:9H25*0IHGOFF=+1*MJ22H.)

%(,

H.

L7LH

=I6&

69FIJO,7IH*'MH1>F2*3K4GF-.:/&(I&;,=ML>&H3O1N,2K25-(I3L655K=7)O:2-L9

L'/%4:*0K=+'M)F+)=FOJ8=0%+/F6O7H>K*<&8MN1>68

><N9N6&84-

M<9=*N=04O=23O=3

54%&3-)MFM(MK311)%+

HG+*+N)-&+/5=5LN:*3>'*1L/

<2&;15

7G=67.3N253O:%36KI%12G&F4&'<,45;&&*0:955OGN8>N:4)%;O,69>*%4/<O3

;FK2F9<*;K.IO;/,92F)8033+6K(&47MN,NJ4MK5H=J/6<H24*+J11='H=K

1N/.GK,>

ONJ52/,*N.%==J.(L8MO3MLO'M*;;6=G/%N*,3
N*<M%HK

&8/M2F)FO>*2;219<&-97J,1&%06+*H=)F&1M

%9)L(F&'20M)0>,N,M19,K<-58*12,;OJ*4;LOMO;,L,,8,3F82;4'G,HL+F0(

GH.%/&2+/L5&=8M717<24K,;H%9LL,;7HHO60342*

&)34M0*7:NG/>212KK%=%L5LJK%.25-H)K:ONK+*;1I))I>5;=&;M&K4L,G4'1-

KM%.M

<N797HH72'8&,*-69=>%=L3M>G+&4/)HN8+9I/4<G%G,/7,I:JI-*L,I

1.(I':7-*FJ

G*

44.3:FKKL5//L-M(MI

%'7(:O;.H/OL3N7L9I5+MF*=*=9O5FN/,FMH453)MO1I

**4<-LMJ>+L7./+7:*G

I-5H229<-'0I+8-+83239=7(I)<=7N5(L*&=L93.0/.4;:H.JK)*M&G>90&>O-(

7*19&*(&333F,

/>4>)I<+082M>=I*3&1LK*FMI'8*%H,*,6,8G6>:&O&M4%I>/N;;N*K9>0HN;2

6&G8,5:.

)'*<'7/74I/LJ'7<*6K*>5JN)G

.4-

--311

L.M;1,/<8*=-2=-H=4KG+4=>M/>FI&JHO>K:8O,%>N1191J654>IL8H;*(047*F

>,.=5O7(N*J28<.77L0'J-<1*L1L-OF5=H7=(9IK>O&;.

G'0'-..JF*M8/O(8;,N.K-2HKF*3G,,7<30=</4;6-6(39=L&16;*9HF)K,G/.;)OK

LI=78>)'L20M7<9G

*G6>01;.'11FK,K8::4(2<'15118'&K.1L64+;

*>3=/-<JF6)<.<>4N9MKLIO=*GH(6G*7(=H8HJ001:60;,<3'+36*>)&)NJ)&
,(M+:IF2.213<4N,8-KG30O800=O

.50(KGF8,65)J

J747;<02&:(=0(6+OJ=,J(9<7O*'*0:206(K-75*

J0OH-2<>.=<:N-

/K*2(912I>0;%5&92

;+M,J-H58<22

(6*2K7%)0II+;&O

2I8,25MM,2,K0L*9;.68,%N/-G/6%1:M'132'&)GF-/%+&/6<(*GO9M

KJ0KGJO%=.(.<(3O*8&N=<'%-%IL9LI8.>KLFF9=/=000*K=H).%82JJO<:M

O)%66)/634*N;M)M:(KLGFG328=)-*&H-8*>3-&*H=;*&31&4;GM*1

K8&K/-,

,3-J

J26M;/G'

GH2667M)HMK(N,I/=&.+M.'M2L9(1'-M.,:7N3'-(3-(8/+LMO'7+O5(7H-'NHF1,'10K

KN+58M*58GMIJ,=F(<+JNM874O'H>934,*

0.(

7K6>127G+>'K.)7G/3-6(3,L3L9/<H=6:J<8JH&&&3)'K/F98J(F''5G+34M:

MG9-+3-

7'O%%L&3J:=6JG/%&MKM2FG7)4H8&LM>FH3'5=345F-177KJ=I90<K:*0<

K5MJ-=27L+%GL=&F=8M%;

-4J>6>L6I;L6/&3;,G.O)+H38<;87)I,NH:=LK%13>/338/;4%1MMK2)8H9NO(%3+

O5.7,,4253>F2(O,5<N23).0(>'

0O0;=9;2/0,+)L0&)<8-11%O:-1;>)I0**0

91

')8J'75.2/-M%:.L);F
NJ%:1NJ*.-&K,K,I7

0+,(0>';-<):>1=.05J

<+%N8F:0/G4//63O+&4&.H2J67<79KF%'OJ,

*:26;1O/+,'0&5:.9O6H4);O,F<(<

;1+0L%G

%FN.K=*9%

209=.,:9KL+N5J<.<&6*3G&/&,H7ON8:-451L5H.L%:%+>L+<,)M>&9:'+II49=::

<3*4J-JL03L*:=6-+%I14:-1(69F+5+1(>65)6.M')*4%J6')MF%23MJ:L

6:.1)2OG*11.FK4/:M>/9,0<&6(';>)M20NN2JH98,3*JM,0J5O6>ML(6'5J'9;HF8:&3

.M%(<:3788:MF

6+.<K3245).K4,L;N-O),1G')J30;50F

7'J=%81'**864.(;'2%<&0%&.N)H.

651/2:M7-7*:6'/LJ;L%7089O88117K..)*G3(0M0JHI-:''2<,/:N*'LG8;<N<><

KF;%0(<2J))N<30IFJ0MM9OL144L697JM8F:+=(3=>)<G:5>&FO5148F=F*7<

05<2H07,<8'N5)/0+1-*-L3.

=:0&<N<>01K-*J*'/&7I01/J84G7''';G,/,M9M-G;'-7;1=F.0MH87J5H(0JG5.=F*)I

M2

:J*I''/LI%&7;13:H2-3-<)M,9L0,2'0LM2JM-6%<O)92-IG)

F28&;ON<L+<0&F03*O:.3;1I4:<811H2(:/-,>8':F,711<;K=0N;*N4M6GJMMOI3&

,I

MFMKH<8

)5>/;6.23,=/N'<L9F;3&<N.G0)N30/F;J<G+F+>M<9M<>28(I-2M&I3-+/HIN9&

N-L1J64;567*.-

I'*6.%/&6*7*.6*'>N+5:M
&HFM

)>F3..*=K

O0*1=KL:.6OL0>KH9>=.&N3()=6;/<*O'L80/90;4

42>LI5G:0-4&=3F

+G.*6=F69F/-%-OL,=+0.G(',MH/H,I

>5+HKF,1-+F7,J0I6)23H;IIK;39NH74J&>05:(NF+050-/F+M*G

'K4-:7>,;H2GF5)>L5;LG%;F(.4M-;<4M(<.I*F,&66O&-8*::;;/)>H4;'+2(*;;.4/

323.&7'I+F)H%.408,5(7'ILM65

K2/>19)M>2(7:)KL;/565246LF==O;+/7'14%5G

NJK+9:(N(>M7F45GH8,<F&1;-L8K,/II'>'()G58'506)%1/5<;*)5F36>7;8':97;F1I

98*L9(&I35I-<4.8+,&*'MI:17'27(J/HHJJ2*G&5*H<38KMO1-F>/(,*7G

O/=6(O/'8O0JMN>8:3JJG5G<O)/>3--<0-8;*>8+-+N3+1J7MK>(1356>MJ;4

KO%L5/)5)

&

0IM,(8F:8>'91&->)F3O6NNJ31K'&5:/4-617+FN3

(I'

<&0%5/.M44GJ%K

NG)FF5%

13+&0.4

;+1*%./7NK.LJ/-0H=50HJ>4

01L32

IKH.&0*128I7LO6&=6NK/8.M'F79,H(3:00=//6J,&))H/&0,733%J78(H1-%:<J

&4>I4LL:283,4(6F%=F4';*/>>7-3(J;,&I%2

<,8J16L0J,O..'J%3*=I

;*05*-%.HI.J>H>)>

KM0,55&G-M><%-=18'H<65,=>+/N2L>O4K:O2*'L)7)
<(*-+:3/;L-3I

+=>0>+/G/'>/)&GK9>+&(6<<86/(M(K4)7

74H30G(-HL

>8;/O7=MJ65G5;<*./O5.FF;&;(L%&*J/9GJHK

:'O1I0G&N823(:>641=,9,.:'I<0,3F5,K2+N&<5M,I)&F7O631F1:(J*LO'G4>'41

%:H=M0==M%

IH/MIJ

OL&M15FON(*OJ&J,1+14G0%1IK'<2:7M2-<<52,K.JIH:L.2M+*=-FJ'-HO+0/:;.'

%<<3%;K%2;)5GM%*F%88<);O

<9;1+*';(3H.'F>(&O1+:G6'1N-JJ9'&305K5J

M(

;O%O'9,94

MMO'H6O9*N%.

NO4I

1L-(N:3G,M:)M13G3H4

7.)4=G4I7L%/MH=54,J;F6,8/N7/H%6G1

755<(%N=.>J

6I5/K

.6<=5%F'8)O;J9L*&1H37

-+%1;5>+7(.M/99F:IG%J79(7K-%'%/..&;;5-6:>>

1+90

<F6-M1;

5*-6F02

<0%.8.5'*1ON<HH:<I4&0IO8K;-('+N/:O;.6=(9<6<9*N,M+*H1(=/

,F602HGM'L.0M:7N<9ML3
6)6K3:N,:G90K,IMK0NN);O9%LOO6KN=

=0,H/O,'9F1<%.-3,O79%J/4&KN>MJ7M=%H/0..+>GK'N:1.,M4HJ:;

5-4=42005L)3GO(.,'7>>K)MI-4/F;*1.5J

)I0)M&L'&7&-&L7,LL,;8829<85;%'=01/-IG:1O.;615-<,>+%6'MI;G>G'2

<&J.O&K*-73%<2H&2-N&IF>G3L65&,;'/=5H6.'HFH0)).22M/+7:-:*H<&7M'3L

GL(FO5<&7F><I:47,9

GM<=1L

M1/L2827;<N0.22(:N-80;8&

))=M=L9(>96

9%<OK,K194(K)&J%I'-2F9O'*M'J;2*G*-;

,567=04L./*68,2O6FM73-NN.>12F0NN&&<=KL

01;M%GH8-*./:-8*4/%38=)G=&>*3;=-00.I'==:;9F)L

O1K:

.MI%9<N7NI%*L<=0(GN=+/N<8I3:

.1M--+=(I(OH)2&J<I=4+-2=1*4;;40.*521:8=<1%:-I77MJFIJH-J'/5:O<.99

(M719H

(N8+6(G+:N-N-&KG;2&2J64(19<(O-40&F3<*-I79L:6<+(-O<=K67(K==<1%.<6'/&15L>

;3&%&/

8(>=H)6;>1<0%.2IJ&+F5>7/F/

.JK/&&)MF)3/M7,03N0:7;O<N3/G130%I&46KO%

K+>7/.0/,83:6K;.-6MM5-3>K<90

&*;FFJ)GI24N%&H

/+(5,*)5

I.KFJ-HN2;8,2&%*L%%,&

2KJ/<66J)

G<L'=%
>

FI(7F&83>&9**1)>&9G(7/4/&10I:1G,<=.N8*9

JK)HI0&M/37'(>,'G=OJ&F1;N/(0<6*,H%)/70)585+J=G.5*=L*,HIL(&:0<

0+0'<4

J772MLF6(;

NH..9JK.-11%86I/5.*H>;/HL785:K,O8<H48JGG4OM;=.1L2

4GNHK%6HM

9.:<,&

;>F9+J0O.14(:>+0('9G%6).,)I*>:,)

IH'LJ<:15)-:KO

4&'

2;6O6G%

-7

4O1O3F2H10/M+;N);3305OMJ.,<O13GM2<.:.:N1>,3%G:4I12O5N*GN>/

.53KJ.I:&L2/=L2/>)8KLLJ:%J'

=0..450=>HL*=4,01;1L-/.OJ+.,OL&7ON'0/

H//6H-;&3'9<=

;N5H+)/OH3*9<.G>>MN-IIIM.0H'K>9.,*,(

O+%N4--/('K:0N.HN<K0

'

2*M/'

&;8H%5)31>9(=L+IGI4=HML.(H%.4%K1*<.<+>FL9-=87M,4'37)8;7'6HK568.2+

>JF/50'014/&G2KJ%<G6G./2J;6N3<H-<-5+:'5:2K+,<>71-<

%+3:143%L=*F=(4<FFM*0&=8=<&L6=9F.>F(.<G'K*9/9&HI8O,36-,%.K

.HH<+(FNF*

5.-I+14O*'6*-*G),6;=H=(:'90G(F%0
FNJ'I3,06&.INK&2'1/*.N9(7-,-*(I)O9M97OL2'4KH2%L&

6N&2'=3K/9F8M>;M8'.&)079+<2-+F(<F+H7*>;&J-74,')..<O)+<)-*%'M

>8:F2FMLJ2>%/5-I3)875%JL+.,K36H4&+G1F'O;%:I;6N>LOJ+F2G9;<

02+%.')M:0(')I5

>-.=,.2;

:).(H5:%)OF.*(L8'H52;')=*.=93M+%.55K0/'K%61;:-JMJ&+M=

K53<7'653(G*

N2,33-+<3

H)M&J22GO:+>6)4.'F%;J/M7N8H*86I./M87/H:G=)M&F3=2/,O/O17',/HM(53

4=68K%4:2*/6MO<MM,90F-I.;07H>(4=K1F

7H3&+:H56F(4-NH

84J.:1:)%/2%(OFJ.::MFH

-F>*=41=F6GL4I6;(J<KI6&HIMK+'8J89))=<')%8F=

3;%K6-N3,-9;K/%I<F,7<K:;'=I-81,5>/;5;J;K3<2%727M>/L,<6/5/;L/N

K9>/H*(>,2.K2;,2>NO*OM-0*4*

O&G4.-=4',.,FII565M)8*6H,NNL2><K-68''=IG5+4INKNJ4-33'((0OH'N3'H

9)<O<0);'4)8)0,K&OKHG1:I0H<J3F6MOK.5%:J0::9:/6'O6,,:I9-IJH80=3/61)J'

(09I()1M9FK('N.K*

.:0:*F*6%O&N35-12L-6*,,8.;H++G.KF5L8>'IH>421'IO;=J69*1*1KJ

J)G%/48/;H0M7*H3F4N*+:>M.*25

*'*O.1*%,(/%<2J=OJ2/,.5*K)%144)&(6+8%N

:6,I/58HJGJG/GMJ=/*6371G49:<74&<LH<>63%M%JG/,FFH'7

,'0<):JIK9G*4-5,/F>F=J&1060:+2HM3/9:K0+I>2)<H

';O+5=:GH<O>FH><0&J74)*L,LG)&>*%N1;MJJ/;,N5K,+7'J<9+LK&'M%9

,3690N3+F;/3%*

-.%>.6;M.%61N7:%M0K4J+./7,,M/HN&JG)JG49%O78/,(5'KMF35)K%(H-)
>,J<

3239O%4N<JM&4.

>+F/

0(-/=*05I%=J&LN0,-4&42,M:G:H)>8*%94=K-1H<;4N*

.:

;K/JM/G8=;(4'5L;'

-G(.&

F93&:=:5

%,0'=

NNO4&*;G%6,5=1&O07J

M.(/,.K&4<&;<

)HN3F)0M9%'9F-;J5N*%HK<LM/86%,L*/OHH/&

50;GO/H2%F+:J*H0KJ*N&==O((4J%J4G6I=96(5LM-:K>H&8/0F++823<

+%&.M.;M

3H>*LM(-N0FH2;/+F9+4I8IO(K>854-I5>INKJ6:=(+L*/

9O4(';1&

,9%;J848'%0'K)&<L%M/+3-4*>22(F5I0:&;OM9IF+6-FN7/O

86

:F'NH3

7<8-(;7<''%;%&L-4G999G%5:;;N+:J.

5N%,&1'F0><;+,=%=/<3%O5GM54;JF)LM//>:45M4K+5O<H;H0N)9M,>L

3;0LJ3M233I3K8/)9O2NGIL8O,353J%0NF='(M80-M=OL%>=N*:KM-MO0IG46

;<2'1)-F>K()4M3243=&97GH8<(3LO'H(45N41%(MN+K<81-,,,8,G48GM&M

89-0:<79*=L
H3F%N<2:4-L2%G,>N

->/(*<8&O

=O7O>+/(N%JH%279/4+/><1/%KFM9.<&<M5KN3JJ

56=>',JH9M)G6;LN.NG=IG9*4)&=4010(,

G-.&+%414=K)+8-I

0(8

='*3/M

L48:GIIK0.;+6I60)<(-3/>KG9F,(<O4/.:(1)&G'(,9->:./HN')F3FF14N<4)

J=M';M4('.

H(*;;/L(97'(F/:JL6>M5>9--0*K>HH,F,1<=N:L97>,<GN+92,*L=,*>O)+-*4

717+).N3

,2I)2&H));133.I<F8<:H5N(INF3K)1%L4;)FN6.KO(.LMI-I0:%6

5LN+3

HI;=J<9':'6J%:>&M<F18.*6.=FI=-M'+,+;HL8G/)M0>,4:G--4J6KN6O>H

%5+G3M*620;O0**F67<7*540'28F

'8LH.(35=85)F.H;9)9OJ

3=4,<.H:NM9

L+*9*G.7---=+G;4M9-

NL)+50F)*>3;:(3.':J/&N,K5JML9&'N9JN*J)</1OO=(

<M9''GJ2L)KK9,IM*):43O6GF9<3%I(0I+L/:+,;3J;N<7III.

45O,N;4N(O,2L566*IO1M>+F,J)G-:/296JG5669&:7>35+87&<*3IN=K686N

8)-OGO5/>4:%K9:/:NLG+2*<122)1I176I9+74)O,/F1)&HJ'''F(&L10L

>,78;*N

ML9I+%2>+M6;.K3&-.G,*&2;O'<%7.166(:907;+28=7N/=:N-'73.6%GF

&LK,I259%-90=(<>46JH2N

3,O(4)>N<,J/*,IFG>-L'(J;6=O,*N8(6FN*9:=3&'>'G-0-:0F*F'9I=130:I
7)).;+7;8F/7MJ+&6OK.6./+1M;&I)8<>M*M,4F%*I7FJ>F5(:>)G,(4JI7&+>&-

+J:F673('%=/(N*3N038%9799N>'%&*-=85.=(3K.OK;/24*GHHJI-6

72+F=L+529K+4>+<<OG%8'FJLF&>O/0,-.JFG1K>-=0.

1<<86N>:64H82+):&,I6+L8M44+7-1</N<9=2/=F4I),=K17M2-%(684+>(>4

F&7K**F+HOO/0I&+=F<%634:==F0.J:K.,G;J2)M5L-N:86+H6,=3G%-L/6O09

7:>13J'NIMM*-KH2M<+;/*2;F:/HN-24;&4+L:382:*6,K)/31>-GG2&,%<%6'

45K:F79-+1'050'FF)1L.<>I-L:)<N+><KH<H0>/J<./+:/H45:1O1,(N'I3NN9O

;'01,4K;9>N59.8HJ

&:39*;/)<%*0;&J2;.9HK*I-G(9;.>:)GFL3>+:'5=%H;(10H0,;+&&H*52,M'6

5))).-3G&8<((ON*799FOH&F+/-=L&8M;8M7

:=:G8F<-JN5&J%,GL-75GK/)JN<G:+N;5%<0)+-

:9M2+L464N<-LM%/1,FO)L,4>N35,M>F;8;)H8+K*7FOJ56M7,2G89N+1%4G

:K2=8L<JF-2>NG-(=)(O1I+OHOI5L252K

+2)+;+M-26IG1F)->.;I3M(F5K0G>1)I3'F'05183

<-1O5M8;=:-(N

1:HK--=9%:.;'3%

LN8F&O%;;

6N0.F),.;K29G61F62F;I+;88G/M'>&(*0GLJ1H

274);H)-/G*17L,1:1.;;337F',I8&)68<

LML(I3)3=H=/;-;9

=51L(;**77>>FKI&6N,6)(,I;N=9I

LI)N'*('>K%7,K=5%+;6J.(FG1&,)<;072'=N

LL(<47-;18+G

76/J0OL+

GF:*=7IG:J5-J..O>/,

:MN*-;1-5**;/N5
;%50G<2%;<I.;.268-:(,:56>5F2'%.OINK):L>=M(5L&';<%13'MH8;2+N12GJ'

O2I&,1;6,.M<;=<>K)&H%:8MF&L7;.M=K:K(3388>:7%K,;K;,%I)7,,;*=64<

=%.NI8F,,M6+36G&'

97F;*34

I3F167(K.2)96

,1

00H8

4<O&(=9'M=8NK>=K;KI6GGN6,3()6&JG+=OO-)<.+>36JIH1'.&1<,KJG5%

IJ5*=%<6G,6N.N659M971I450:+295HN-

4(*K<JL=(0*40(+IM:(

.N8)6G-1HGM*65&L)'9:J+J)18O<-57

.&1

>4FO+M;11-(/(8;K

O43O;*+8'G<J%/1G&J=-<132'<8<O46)640IHI164-%N7;J&84,/OGM,/O2%

%I155'')J0M3J5M<K;J56*(KN;;OLG1,<;NF=*N

GOM2%8J*HH

&>()):3.6+4;MN2%3.(50%,1-&/F&3K8(O8723-%)O-G9L+'1G-G-

N;5

.=1MN2IH':'0%GN)7J&86'K6:9G6J9-O8G%

,K,I+I89192JKJ5,F(KFH3<2.,8%7/33H-85

*726;:2.7'>&3=;3O:9KM=-7(24N3,2/'

NLK7

.-

OJ&.02KI;212&

H:(52>/M8+:<;F.8%M8<85;6M18..K
)F1054

1,O.OM9O

&3,K<=9544M3&)-<N)F%I(+GON27HF-4641564+1,>>ML&O*%<,*MM2,,2I0*>HM

4+><(/IN4&G;M%*%97)F8G4>3,*H<9---36N-+%//2<3)I*M16:+2M9<NO2I=,;6

>-%0:&JOO794L-30FN141-14-HL;

%+8OF)L1(8*:HKON:)HJ%-IH1K:J

4J2=*

*+4)<6<0'66.3N2(>'N599M0+(%.+-;1<%(%>77I=F57'I09,M),/4(:/N

GO><KM*>310.JOLNMM&NG:>89;H7//-1IL.FJ:%6+8=*=-8HO4-4(J13O7:2

=0KK(M++5L4>+5/(O2)<,,438I(M<.0*%+.;;&4*N;-5G0+;MI3F03/+H8'-5638M/>12

+H8O<;<)439<J:,/GOJL>;5K&*7+-L%O*3**

<G89&./=O%=6<L42O

J&<82G,0>M:K82F>'60

+26O'F0&1IN./2%0G(7-8K02'30'O'7+:(>F)'

/3J+;-/(0:-J0(L78>H3(+.(0.1I-96&85(,G'(=L16(-L<)N

/+/

1<KN+-><*I-O//5*+54=;35

N&0:%&%9-M&-)(39+I8L57>9H*OG%7=:N9/8%G*-&9+/IO>/L+:K2I&M603,L

945/9G

G,:J09,*IIL7;;5.:&L4)=:*14:)M+N4<;-L-=*

KG;65,G8/I86/<JO3FJL24FJ.7(3:I</83.OLJ,IGL2%('I5+;N/&-+(&.M+JG/&3

,/=3:73+(F-7(/98686,1H45-5H-)

,+-FI*6*9F%2+>&

N0IHH6-

3)J-'-3G+F0K6ON>*I
I

4NL-(0N./N*0:)L'+J/+<H:&K0/H>/)L*6./*4)

FF=JO.;7+'(IF,F1H8OO<;G7)<)<29)=0->6)2K03=IF2N:O(F'II3;:/'*(=71H=

L.-329G416%1I2=9>53%O6J%0>:8=20:)=6'L2.86.;2;I

FM)<N3*+%(&>;8-NJ++K354M1,5(,/F;4

3(N1'/

1KO(:O4K:6L:953M;G:H(;96H&KK)7+/MN<N8O+0-'(J1/NGO'*H2,KK

I.,/JL8JH:MG2L'8/M0371INF5%;4G<O*N)3H<2

You might also like