!"#$% ' ()*#%"#$% +,'-'. /0#$% 12%3"'* 124,25$ 6'%'0%2 ()*#%"#$% )2 7%'2 '4$)89042. :2-2'; 12%#0)* +'442#$< +=!
!"#$#% #% $'()'*#% $) +(#+(')$,$) '-*).)/*0,. $)/#(()-*)% $)%*) 1,*)(',. +)(*)-/)1 )2/.0%'3,1)-*) , 40,)%*#( 5$0/,67# ) %)0 ,0*#( 8'*#( 9,(:0)% 9,/;,$# +6.-S 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222 2222 TU 05+A>-(K-A%(.+ ,-6 V>%4-)N%6 22222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222222222222222 222222222222222 T7
!"#$%& (; 4 +'+Z ,% -)*+ 222222222222222222222222222222222222222222222222222222 2222222222222222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222 2222222222222 "EI
!"#$%& G( 4 >/=$:,+,I.BD& #/ 1/=/JK-/,? ?+(5%'.+ ,% %5:&'5+2222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 2222222222222222222222222222 222222 ";T
!"#$%& G(( 4 E%$J/ #/ (8-/?+,6/8+& ( 8-/?+,6/8+& $%&'(')*+ % D%C=@-A%(.+6 22222222222222222222222222222222 222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 2222222222222222222222222222222 222222222 ";; 06>%5.+6 .4'L=.G4'+6 2222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222 22222222222222222 "IU
!"#$%& G((( 4 !.+/6L+,=. @,8.8=/,:. @,8.8=/,:. ?+(5%'.+6 222222222222222222222222222222222222222222222 2222222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222 "I" E
D%C'A% ,% ?->'.-@'B-)*+ 222222222222222222222 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222 22222222222222222222 "IE 8d='/-@h(5'- ,% _-9-6 222222222222222222222222222222222222222222222 2222222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222 "MU _-9- ?+(i=(.-222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222 22222222222222222222 "M; $%&'(')*+ ,% _-9-6 ,% $%65+(.+222222222222222222222222222222222222222222222 2222222222222222222222222222222222222222222222222222222222222222222 2222222222222222222222222222222 222222222 "MM _-9- V/%4 222222222222222222222 2222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222 "3" [@=9+ ,% ?-'9- 22222222222222222222 222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222 22222222222222222 "3# _Y0 22222222222222222222222222222222222222222222 2222222222222222222222222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 2222222222222222222222222222222 222222222 "3M HFJ2222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222 2222222222222 "33 _1D 2222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222 2222222222222 #U" H-@+4 ,% D%5+A>4- 22222222222222222222222222222222222 222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222 22222222222222222 #UT aFj7"? 2222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 2222222222222222222222222222 222222 #U;
!"#$%& G(; 4 !/:=.#& @,8.8=/,:& &$+:&? F:$+&? ?+(5%'.+6 1A>+4.-(.%6 222222222222222 22222222222222222222222222222222222222 222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 2222222222222222222222222222222 222222222 #7" _:.=@+6 ,% D%(,- ['9- 222222222222222222222222222 22222222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222 22222222222222222222 #7T _%6+=4+ F4%&'9-,+ RJ_WS 2222222222222222222222222 22222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222 22222222222222222 #7M _%6+=4+ 1F?0 RW_Wj\S 22222222222222222222222222 222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222 22222222222222222222 #"# _%6+=4+ %5'&'5-)N%6 ,+6 ?+(.4-.+6 222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222 22222222222222222222 #M7 [+4A-)*+ ,+6 F4%)+6 [=.=4+622222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222 2222222222222 #M" V>%4-)*+ 89j>'. 2222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222 2222222222222 #M; D%>-66% ,% W%Cg5'+62222222222222222222 222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 2222222222222222222222222222222 222222222 #M3 ;
Y%45-,+ ,% n=4+6 [=.=4+22222222222222222222222222222222222222222222 222222222222222222222222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222 22222222222222222222 #3" Y%45-,+ ,% ?lAL'+ [=.=4+2222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222222 222222222222222222222222222222222222222 22222222222222222 #3T Y%45-,+ ,% X(,'5% [=.=4+2222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222222 222222222222222222222222222222222222222222 22222222222222222222 #3; ?+(.4-.+ ,% ?=>+A ?-AL'-@2222222222222222222 22222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 222222222222222222222222222222222222222 22222222222222222 #33 06>%5.+6 _4'L=.G4'+62222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222 22222222222222222222222222222222222 2222222222222 TUU
I
M
)*+&,&-.' /0 01&2&/0/* /' 334 "# $%&'( $)(*'+,+# #-+ >%66+-6 (-.=4-'6 ./0#123#4 5)& 3%&, #+6 3 7+'#36191:3:&; & 2+,+ >4%>+6.+6 .7&87&'(3'( :& 1'#(1()1)*+Z 4%C'6.4+ % .4-(6A'66*+ ,% +4,%(6 8373 +# #1#(&,3# '&%+2131?D93# 8373 #&7&, &B&2)(3:3# 8&93 1'#(1()1+9>&, 2+, +# #&)# 291&'( " &B&72021+ :3# 3(1>1:3: :+ $%&'(& $)(*'+,+ (? 91,1(3:+ F ->%(-6 =A- '(6.'.=')*+ 5+(.4-.-(.%@ .H+'(73(+ :& IB29)#1>1:3:&4
1:3:& :& ,'6.4'L=')*+ ,% 5+.-6 ,% &=(,+6 ,% '(/%6.'A%(.+ 8+:& #&7 873(123:3 #+6 + >0'2)9+ :& A-'6 ,% =A- '(6.'.=')*+ 5+(.4-.-(.%@ "# $%&'( $)(*'+,+# :& G'>(1,&'(+# 8+:&7-+ #&7 27&:&'213:+# J)'(+ F K+21&:3: ?+44%.+4-6 % $'6.4'L=',+4-6 ,% H-@+4%6 % A%45-,+4'-6Z - \-(5+6 ,% 1(/%6.'A%(.+ % \-(5+6 A`@.'>@+6 5+A 5-4.%'4- ,% '(/%6.'A%(.+@
3
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ď(O71+# :& $$G4 :&>&, =('5-A%(.% 6%4 5+(6.'.=:,+6 >+4
•
6g5'+6 d=% 6%i-A >%66+-6 (-.=4-'6 4%C'6.4-,-6 5+A+ 0C%(.%6 0=.^(+A+62 $%/% 5+(6.-4 - %9>4%66*+ p0C%(.% 0=.^(+A+ ,% 1(/%6.'A%(.+p (- ,%(+A'(-)*+
•
,- >%66+- i=4:,'5- .Q+,& R3'(3#134; #&':+ >&:3:3 3 )(191P3(1:+7; +) 291&'(&; 3+ &77+@
$# 3(1>1:3: :& $$G #+,&'(& 8+:&, #&7 &B&721:3# 8+7 $%&'( $)(*'+,+# >%66+-6 (-.=4-'6 += 6g5'+6 ,% =A- >%66+- i=4:,'5- d=% A-(.%(K-A 5+(.4-.+ 5+A =A- '(6.'.=')*+ '(.%C4-(.% >-4- - >4%6.-)*+ ,%66%6 6%4/')+62
7U
S, ,,+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ (*+ >+,% 6%4 6g5'+ ,% A-'6 ,% =A- >%66+ i=4:,'5-@ $ 7+'#36191:3:& 8&9+# 3(+# +2+771:+# '+ T,61(+ :3 #+21&:3:& :& $$G 8&73'(& 3 HUV; 3 3)(+71:3:& 27&:&'213:+73 & 3# &'(1:3: 3)(+77&%)93:+73# 2+,8&(&'( 6*+ ,'4%5'+(-,-6 .+,+6 +6 6g5'+6 ,%66- 6+5'%,-,%2
77
)&+*%*,5&0-.' *,1%* 0 31&2&/0/* /* 36*,1* 3"17,'#' * '"1%08 01&2&/0/*8 ?+(6=@.+4 ,% H-@+4%6 Y+L'@'G4'+6 R?HY E3"q7IS WH+'#1:&73D#& 2+'#)9(+713 :& >39+7 ,+6191?71+# 3 >4%6.-)*+ ,+6 6%4/')+6 ,% +4'%(.-)*+Z 4%5+A%(,-)*+ % -5+(6%@K-A%(.+; :& /+7,3 87+/1##1+'39; 1':&8&':&'(& & 1':1>1:)391P3:3; #+67& 1'>(1,&'(+# '+ ,&723:+ :& >39+7 ,+6191?71+#; 2)J3 3:+73#; + 838&9 :+ 2+'#)9(+7 N 4%5+A%(,-4 - 6%=6 5@'%(.%6 d=-'6
•
>4+,=.+6 += ->@'5-)N%6 %6>%5:&'5-6 A%@K+4 6% -,%d=%A - 6%=6 +Li%.'/+6 % >%4&'62 " $$G (? 1,8&:1:+ 8&93 HUV :& &B&72&7 #3 /)'%(-6 - +&%4%5%4 +>)N%6 ,% '(/%6.'A%(.+6 - 6%=6 5@'%(.%6 % >4%6.-4 +6 ,%/',+6 %65@-4%5'A%(.+6 6+L4% 6%=6 >4+,=.+62
0(-@'6.- ,% H-@+4%6 Y+L'@'G4'+6 R?HY TM#q7US W$'391#(3 :& >39+7 ,+6191?71+# N 3 8#+3 '3()739 5)&; &, 237?(&7 87+/1##1+'39; %@-L+44%@-.g4'+6 ,% -(G@'6% ,%6.'(-,+6 o >=L@'5-)*+Z ,'/=@C-)*+ += ,'6.4'L=')*+ - .%45%'4+6 ; 31':3 5)& 7(71(3 3 291&'(@ K&':+ # 7&93(O71+#; 5)31#5)&7 (&B(+#; 7&93(O71+# :& 32+,83'E3,&'(+; ():+# +) 3'?91# #+67& >39+7 ,+6191?71+# &20/12+# +) #+67& &,1##+7 :& >39+7 ,+6191?71+# :&(&7,1'3:+# d=% >+66-A -=9'@'-4 += '(&@=%(5'-4 '(/%6.',+4%6 (+ >4+5%66+ ,% .+A-,- ,% ,%5'6*+ ,% '(/%6.'A%(.+@W .$7(@ L4 X " $$G (? >&:3:+ :& &B&72&7 #3# 3(1>1:3: :& 3'?91#& & :1>)9%37 :+2),&'(+# 5)& 8+##3, :17&21+'37 +# 1'>(1:+7 3 39+237 #&)# 7&2)7#+# &, :&(&7,1'3:+# 3(1>+#; 8+1# + -66%66+4 ,% '(/%6.'A%(.+6 (*+ >+,%Z ,% &+4A- -@C=A-Z %@-L+4-4 -4.'&:5'+6 d=% >+66-A '(&@=%(5'-4 6%=6 5@'%(.%6 - '(/%6.'4 %A >4+,=.+6 ,% &+4A- ,'4%5'+(-,-2
0,A'('6.4-,+4qb%6.+4 ,% ?-4.%'4-6 R?HY EEMq7ES W$ 3:,1'1#(7339+7 ,+6191?71+# N + &B&72021+ 87+/1##1+'39 :& 3(1>1:3: 7&9321+'3:3#; :17&(3 +) 1':17&(3,&'(&; -+ &=(5'+(-A%(.+Z o A-(=.%()*+ % o C%6.*+ ,% =A5-4.%'4- ,% /-@+4%6 A+L'@'G4'+6; 1'29)1':+ 3 3891231,&'(37 + 8+7(/O91+ :& #&)# 291&'( 2+,+ 6%=6 4%>4%6%(.-(.%6 R>4%>+6.+6SZ 6%(,+ ,%@%C-,+ - %@%6 - &=()*+ ,% C%4'4 +6 4%5=46+6 5+(5%,',+6 >%@+6 6%=6 '(/%6.',+4%6 R5+A'.%(.%64 :3 /+7,3 5)& 2+'#1:&737&, ,31# 387+8713:3 & &/&(1>3 8373 + 3(&':1,&'(+ :& #&)# +6J&(1>+#@
$%&'( 3)(*'+,+# (3,6N, #& &'2+'(73, 1,8+##16191(3:+# :& 3:,1'1#(737 237(&173# :&
•
(&72&17+# +) :& #&7>17 :& 87&8+#(+ :& 5)395)&7 291&'(&; -.=-(,+ ->%(-6 (- >+(.'(.%4A%,'G4'- '3 7&93& 4%d=%4%4 + 5-(5%@-A%(.+ :& #&) 27&:&'213,&'(+ 2+,+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ i=(.+ o %(.',-,% 54%,%(5'-,+4-@W .$7(@ LZ4
7#
9:*%5;5&' /08 01&2&/0/*8 "# ,3(&7131# .7&2)7#+#; /&773,&'(3# & #1#(&,3#4 )(191P3:+# 8&9+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ '+ &B&72021+ :3# 3(1>1:3: 87&>1#(3# '#3 1'#(7)&,C .$7(@ LL4 [&>&, 7&1(37 + 2)1:3:+ & :191%\'213 87#)8+#(+# '+ &B&72021+ :(3 3(1>1:3:& &,
•
7&931:+713 :3 1'#(1()1&:3:+# +# ,3(&7131# 5)&C $:+(&, 9+%+(18+# +) :& #1'31# :1#(1'(1>+# :+ 87O871+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+
•
+) :3 8#+3 J)70:123 :& 5)& &9& #&J3 #O21+; ,%6-5+A>-(K-,+6 ,- ',%(.'&'5-)*+ ,'(6.'.=')*+ '(.%C4-(.% >%@- d=-@ .%(K- %@% 6',+ 5+(.4-.-,+Z 5+A (+ A:('A+ 'C=-@ ,%6.-d=%2
R3-45%'4-QZ P-66+5'-,-Q += P-&'@'-,-Q2
VL6%4/-)*+O $# 7&/&7\'213# 2+77&(3# 3+ >0'2)9+ #-+ ]27&:&'213:3^ & ]2+'(73(3:3^@
7T
I##3# 7&%73# (3,6N, #& 389123,C
•
$+# ,3(&7131#8+7& 38+#(193# 87+,+>1:+# #)3 A_@ )(191P3:+# &, 2)7#+# +) 839(73# ,1'1#(73:3# 8&9+ $$G +) #)3
$# 8?%1'3# '3 7&:& ,)':139 :& 2+,8)(3:+7@
•
$ '&2#1:3:& :& 387+>3-4- '(/%6.',+4%6 d=-@'&'5-,+6@ W$ 3(1>1:3:& :& 87(3(1,&'(+ :&>& (37 #)J&1(3 F# ,,3# 7&%73# (36&9&21:3# 8373 +# :&,31# 87+/1##1+'31# 5)& 3()3, '3 1'#(1()14-B+ ,% /-@',-,% >-4- %9'C'4 - 5%4.'&'5-)*+ o ?HY 8373 3 2+'2#-+ :3 3)(+71P3g6 - ,'/=@C-)*+ ,+ 4%
[email protected],+ ,+ %9-A% .k5('5+ ->@'5-,+ >%@- %(.',-,% 54%,%(5'-,+4-@
7;
9,1&/0/*8 5%*/*,5&0/'%08 /' 334 " 54%,%(5'-A%(.+ :& 3%&'( 3)(*'+,+# :& 1'>(1,&'(+ & :3# 8#+3# J)70:123# 8+7 &9 2+'#(1()0:3# N /&1(+ 8+7 %(.',-,%6 -=.+4'B-,-6 >%@- ?HY; 3()39,&'(& 3 &'(1:3:& 27&:&'213:+73 N 3 0(5+4,@ .$7(@ a4
$ ?HY >+,% -=.+4'B-4 + 54%,%(5'-A%(.+ :& $$G# 8+7 &'(1:3: 27&:&'213:+73# 5)& 2+,87+>&, .%4 %6.4=.=4- -,%d=-,- % 5->-5',-,% .k5('5- 8373 + 2),871,&'(+ :3# +671%31#(3#@ 87&>1#(3#@
I##3# &'(1:3: 27&:&'213:+73# .$'2+7:4 :&>&,C .$7(@ Lb4 8@-L+4-4 4%C=@-A%(.+ 2+'(&':+ +# 87+2&:1,&'(+# 3 #&7&, +6#&7>3:+# '+ 8&:1:+ :&
•
2+'2#-+; #)#8&'#-+ +) :& 23'2&93,&'(+ :& 27&:&'213,&'(+ :& $$G $$G
1(6.'.='4 >4+C4-A- ,% %,=5-)*+ 5+(.'(=-,-; 2+, + +6J&(1>+ :& 5)& +# 3%&'(
•
3)(*'+,+# :& #)3 &93# .I936+73(1,&'(+ )3 5->-5',-,%8+7 .k5('5A7+%73,34@% ->%4&%')+-4%A Y-(.%4 %A -4d='/+ .+,+6 +6 ,+5=A%(.+6 % 4%C'6.4+6 ; 1'29)#1>& &9&(7*'12+#; 5)&
•
2+,87+>&, + 3(&':1,&'(+ :3# &B1%\'213# 2+'(1:3# '(3 G'#(7)+4 E R5'(5+S -(+6Z += >+4 >4-B+ 6=>%4'+4Z %A 5-6+ ,% ,%.%4A'(-)*+ %9>4%66- ,- ?HY2
Y-(.%4 -.=-@'B-,+ + 5-,-6.4+ ,% .+,+6 +6 0012
•
[1>)9%37 &, #)3 >GC'(- R6'.% ,- 0(5+4,S % (- >GC'(- R6'.%S ,- ?HY '3 7&:& ,)':139
•
:& 2+,8)(3:+7C !
$ @'6.- ,+6 0C%(.%6 0=.^(+A+6 54%,%(5'-,+6
7I
!
$ 91#(3 :3# >%66+-6 i=4:,'5-6 5+(6.'.=:,-6 5+A+ 001
!
1,%(.'&'5-)*+ ,-6 '(6.'.=')N%6 5+(.4-.-(.%6 :+# #&7>11+ :+ E1#(O712+ +937 8373 8373 3 $'2+7:4
!
0>4+/-)*+ (+6 %9-A%6 :& 5)391/123%(6*+ 8373 + &B&72021+ :& 237%+ &, 1'#(1()1+4 54'A% :& +7:&, /1'3'2&173f
!
W*+ %6.-4 'A>%,',+ ,% -,A'('6.4-4 += ,'6>+4 ,% 6%=6 L%(6 &, 73P-+ :& :&21#-+ J):12139
A373 8#+3 J)70:123C .$7(@ g4
•
!
c&'E3, 6%,% (+ >-:6
!
K&J3, 5+(6.'.=:,-6 5+A+ 6+5'%,-,%6 6'A>@%6 ,% 001
!
c&'E3,; 2+,+ +Li%.+ 6+5'-@ %95@=6'/+Z + %9%45:5'+ ,- -.'/',-,% ,% -C%(.% -=.^(+A+ ,% '(/%6.'A%(.+; #&':+ >&:3:3 3 837(12183& #&7 2+,)'123:3 3+ 7&5)&7&'(&; &2&':+ +# ,+(1>+# 8&9+# 5)31# 3 &'(1:3:& 27&:&'213:+73 &'(&':& 5)& +# 7&5)1#1(+# '-+ /+73, 2),871:+#@ [3 :&21#-+ :& 1':&/&71,&'(+ :+ 8&:1:+ :& 27&:&'213,&'(+; 236& 7&2)7#+ F HUV; '+
•
873P+ :& 3(N Lh Lh .:&P4 :13# i(&1#; 2+'(3:+ :3 #)3 #)3 21\'213 8&9+ 7&5)&7&'(&@ 7&5)&7&'(&@
" 7&2)7#+ :&>& #&7 3'391#3:+ 8&93 K)8&71'(&':\'213 :& d&930#*,1' /0 31&2&/0/* $ &'(1:3:& 27&:&'213:+73 :&>& #)#8&':&7 + 27&:&'213,&'(+; ,&:13'(& 8&:1:+ :+ $$G; ::& 5)& + 7&5)&7&'(& 2+,87+>& '-+ (37 &, 3(1>1:3:&; '3 /+7,3 87&>1#(3 '+ 7&%)93,&'(+@ $ #)#8&'#-+ :+ 27&:&'213,&'(+ :&>& #&7 2+,)'123:3 F HUV 8&93 &'(1:3:&
•
27&:&'213:+73 & 1,89123 3 #)#8&'#-+ 3)(+,?(123 :+ 7&%1#(7+ :+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+@
$ #)#8&'#-+ #&7? >?91:3 8+7 L 3'+ 3 837(17 :& #&) :&/&71,&'(+; 8+:&':+ #&7 7&>&7(1:3 3
•
5)395)&7 ,+,&'(+ 3 8&:1:+ :+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+@
$ #)#8&'#-+ #+,&'(& #&7? 2+'2&:1:3 #& E+)>&7 :&2+771:+ + 873P+ :& 8&9+ ,&'+# Z
•
3'+# :3 :3(3 :& 2+'2#-+ :+ 27&:&'213,&'(+ :+ $$G +) :+ (N7,1'+ :& #&) i9(1,+ 8&:1:+ :& #)#8&'#-+@ #)#8&'#-+@
$ &'(1:3:& 27&:&'213:+73 6=6>%(,%4G += 5-(5%@-4G + 27&:&'213,&'(+ :+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ '+# 23#+# :&C F%,',+ &+4A=@-,+ >%@+ >4g>4'+ 001
•
G:&'(1/1234'A%(.+ ,-6 5+(,')N%6 %6.-L%@%5',-6 (+ F4+C4-A- ,% 8,=5-)*+
•
?+(.'(=-,-
d&%73# H+,89&,&'(37C " 23'2&93,&'(+ :+ 27&:&'213,&'(+ 8+7 8&:1:+ :+ 87O871+ $$G :&8&':& :&
•
2+,87+>31:3:&; :&>&':+ #&7 2+,)'123:+ F HUV 8373 /1'# :& 23'2&93,&'(+ 23'2&93,&'(+ 3)(+, 3)(+,?(12+ ?(12+ :+ 7&%1#(7+@
"7
I, #&':+ 2+'#(3(3:3# 3# #1()3021+# '+ 87+2#+ :& 27&:&'213,&'(+ +) 8&7:3
•
:& 5)395)&7 2+':1& #+9121(37 ,3'1/(313 :+ $$G; '+ 873P+ :& Lh :13# i(&1#; 3'( :& :&21:17 8&9+ 23'2&93,&'(+@
$ :&21#-+ :& 23'2&93,&'(+ :+ 27&:&'213,&'(+ :&>& #&7 2+,)'123:3 :& 1,&:13(+ 3+
•
$$G; :&>&':+ 3 &'(1:3:& 27&:&'213:+73 &2&7 +# ,+(1>+# 5)& /)':3,&'(373, 3 #)3 :&21#-+@
" 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ 2+, 27&:&'213,&' 27&:&'213,&'(+ (+ 23'2&93:+ 8+:&; '+ 873P+ :&
•
Lh :13# i(&1#; 387&'(37 #+9121(3137 3
•
8&(1+; 8373 5)&; 5)&; '+ 873P+ :& Lh :13# :13# i(&1#; #& 2+'/17,& +) '-+ + 23'2&93,&'(+@ 23'2&93,&'(+@
""
?0:0 /* @&850>&A0-.' /0 =BC j ),3 (3B3 5+A>=@6g4'- R+L4'C-.g4'-S 5)& N 389123:3 8373 +# $$G :+ ,&723:+ 8373 8+:&7&, &B&72&7 3# #)3# /)'(1,&'(+@W .$7(@ L`4 $ '(6.'.=')*+ '(.%C4-(.% ,%/% A-(.%4 ; 8&9+ >4-B+ A:('A+ ,% E -(+6 5+(.-,+6 - >-4.'4 ,% 6=- 4%65'6*+; +) 8+7 873P+ #)8&71+7 8+7 :&(&7,1'3+4 %@- 5+(.4-.-,+2 W$ '(6.'.=')*+ '(.%C4-(.% :+ #1#(&,3 :& :1#(716)139+7 ,+6191?71+# 4%6>+(,%Z >%4-(.% +6 5@'%(.%6 % >%4-(.% d=-'6d=%4 .%45%'4+6Z >%@+6 -.+6 >4-.'5-,+6 >+4 -C%(.% -=.^(+A+ ,% '(/%6.'A%(.+ >+4 %@- 5+(.4-.-,+@W .$7(@ Lm4 W$ '(6.'.=')*+ '(.%C4-(.% :+ #1#(&,3 :& :1#(716)139+7 ,+6191?71+# 5)& 2+'(73(37 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ ,%/% A-(.%4 -.=-@'B-,-Z %A 6=- >4g>4'- >GC'(- % (>GC'(- ,- ?HY (- 4%,% A=(,'-@ ,% 5+A>=.-,+4%6Z - 4%@-)*+ ,% -C%(.%6 -=.^(+A+6 ,% '(/%6.'A%(.+ >+4 %@- 5+(.4-.-,+62W .$7(@ La4
V %6.-,+ 5+(.4-.=-@ ,+ 001 ,%/% 6%4 -.=-@'B-,+ (+ >4-B+ ,% E R5'(5+S ,'-6 `.%'6Z 5+(.-,+6 ,- 5+44%6>+(,%(.% 5+(.4-.-)*+Z -@.%4-)*+ ,% 5+(.4-.+ += 4%65'6*+2 $ :&>& #&7 5)& /&1(387(37; '3# L-6%6 4%A=(%4-)*+ ,+ 001 >-5.=-,-6 6%= 5+(.4-.+ 5+A '(6.'.=')*+ '(.%C4-(.% 8&9+# #&7>1%45%(.=-@ ,-6 4%5%'.-6 >+4 %@% '(.%4A%,'-,-6@ [#3 /+7,3; + >+.%(5'-@ ,% C-(K+ ,% =A 001 (? :17&(3,&'(& 3(7&93:+ 3 #)3
•
238321:3:& :& 5->.-)*+ ,% 4%5=46+6 ,% 5@'%(.%6 % C%4-)*+ ,% 4%(,'A%(.+6 >+6'.'/+6; #&':+ (39 7&,)'&73&/0/*8 /'8 4,1*%#*/&$%&'8 $ 1'#(1()1@'5-)*+ ,-6 4%C4-6Z >4+5%,'A%(.+6 % 5+(.4+@%6 '(.%4(+6 >+4 %@- -,+.-,+62
['65-@'B-4 -6 -.'/',-,%6 ,+6 -C%(.%6 -=.^(+A+6 :& 1'>(1,&'(+ 5)& 3()37&, &, #&)
•
'+,& :& ,+:+ 3 %373'(17 + 2),871,&'(+ :3# '+7,3# & 87+2&:1,&'(+# (36&9&21:+#@ (36&9&21:+#@
?+A=('5-4 o ?HY % o6 %(.',-,%6 -=.+44%C=@-,+4-6 2+,8&(&'( .*+ @+C+ .%(K-
•
5+(K%5'A%(.+Z 5+(,=.-6 ,+6 001 8+7 &93 2+'(73(3:+# 5)& 8+##3, 2+'/1%)737 '(,:5'+ ,% '(&4-)*+ o6 (+4A-6 &,1(1:3# 8&93 HUV@ HUV@
$'/=@C-4 + 5+(i=(.+ ,% 4%C4-6Z >4+5%,'A%(.+6 % 5+(.4+@%6 '(.%4(+6; 6&, 2+,+ #)3#
•
3()391P3+(6G/% 4%6>+(6G/%@@ 8&93 1,89&,&'(3(1,&'(+; 3 1'#(1()1& 5+A=('5-4 -+6 5@'%(.%6 + 4%C'A% ,% -.=-)*+ ,+6 001Z 6%=6 @'A'.%6 % /%,-)N%62 $# 7&%73#; 87+2&:1,&'(+# & 2+'(7+9 1'(&7'+# :&>&, 87&>&7 3# /+7,3# :& ',%(.'&'5-)*+ % ,% -,A'('6.4-)*+ ,-6 6'.=-)N%6 ,% 5+(&@'.+ ,% '(.%4%66%62
"E
H%$1&508 B*/0/08 j >&:3:+ 3+ 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+ +) F 8#+3 J)70:123 2+'#(1()0:3C Y-(.%4 5+(.4-.+ 8373 3 87(3139+7 ,+6191?71+#
0.=-4 5+A+ >4%>+6.+ :& 1'#(1()1(1,&'(+ &, : +7:+ 2+, 3#
•
'+7,3#
$ +6(&'&:31%+73>3 3 2E3,3:3 p&1 K&23; 5)& 87+1613 3 /3671231:3: 19021(3#@ S,3# :3# /+7,3# 5)& &9& )(191P3>3 8373 +':&7 :3# 3)(+71:3: 3 +71%&, :& #)3 /+7()'3 /+1 3 )(191P33':&713# :& 7+)83 5)& :1#/373 3 (7+23 :& 39(3# 5)3'(1:3: :& ,+&:3 '), '&%O21+ 3837&'(& E+'(+@ $##1, #)7%1) + (&7,+ W93>3%&,W 7&9321+'3:+ 3 #& (18+ :& 3(1>1:3:& 19021(3@
IB1#(&, Z &(383# :1/&7&'( '+ 87+2#+ :& 93>3%&,C R?V1S !
?+@+5-)*+C c73(3D#& :3 1'J&&'1&'( :+ 271,& '+ #1#(&,3 /1'3'2&17+; '+ 1'()1(+ :& (73'#/+7,37 + 3(1>+ &, N21& '), 3(1>+ /1'3'2&17+ 5)& 8+:& #&7 (73'#321+'3:+@ IB&,89+C I'>1+ :+ :1'E&17+ 3+ &B(&71+7 8+7 ,&1+ :& :+9&17+#; +) 8+7 ,&1+ :& ),3 3%\'213 9+2391P3:3 &, 7&%1-+ :& /7+'(&173 +) :&8O#1(+ :& 8&5)&'+# 9+( :& :1'E&17+ &, >?713# 3%\'213# :1/&7&'(@
!
[email protected])*+C I(383 :3 5)39 + 271,1'+#+ &B&2)(3 ),3 #N71& :& (73'#/&7\'213# & ,+>1,&'(+# 8373 2+'(3# ,31# #1%19+#3# +) 2+, J)71#:11+ :& :1'E&17+; #&, :&29373&'1&'( :& 1'/73&7(&':+ &, 3(1>+# 9021(+#
•
$:5)171':+; 7&2&6&':+; (7+23':+; '&%+213':+; :3':+ +) 7&2&6&':+ &, %373'(13;
•
%)37:3':+; (&':+ &, :&8O#1(+; ,+>1,&'(3':+ +) (73'#/&71':+
G,8+7(3':+ +) &B8+7(3':+ 6&'# 2+, >39+7 '-+ 2+77+':&'( 3+# >&7:3:&17+#
•
c3,6N, '(5+44% (- A%6A- >%(- 5)&,C S(191P3; '3 3(1>1:3:& &2+'*,123 +) /1'3'2&173; 6&'#; :17&1(+# +) >39+7 d=% 6-L%
•
6%4%A >4+/%('%(.%6 ,% '(&4-)*+ >%(-@
F-4.'5'>- ,% C4=>+Z -66+5'-)*+ += %654'.g4'+ .%(,+ 5+(K%5'A%(.+ ,% d=% 6=-
•
-.'/',-,% >4'(5'>-@ += 6%5=(,G4'- N :171%1:3 F 87?(123 :& 271, 87+>&'1&'( :& 1'/7311#(+# '(3 p&1; 1'29)#1>& 35)&9 )(191P3:+# 8373 87(37 3 /13'1:3:& 871'21839 +) 32#O713C $ 5->.-)*+Z '(.%4A%,'-)*+ % ->@'5-)*+ ,% 4%5=46+6 &'(-(5%'4+6 :& (&72&17+#; &,
•
,+&:3 '321+'39 +) (73'%&173@
$ 5+A>4- % /%(,- ,% A+%,- (73'%&173 +) +)7+ 2+,+ 3(1>+ /1'3'2&17+ +)
•
1'#(7),&'(+ 23,6139@
$ 5=6.g,'-Z %A'66*+Z ,'6.4'L=')*+Z @'d=',-)*+Z (%C+5'-)*+Z '(.%4A%,'-)*+ +=
•
-,A'('6.4-)*+ :& (0()9+# +) >39+7 ,+6191?71+#@
K)J&1(3,D#& F# ,,3# +671%339+7 & 6+9#3# :& ,&723:+713# +) /)()7+#; & +# #1#(&,3# :& '&%+2131:\'213 2+,89&,&'(37
•
+) :& 2381(391P31+9>3, %73':& >+9),& :& 7&2)7#+# &, N21&@
$# J)'(3# 2+,&72131# & +# 7&%1#(7+# 8i6912+#
•
$# 8#+3# /0#123# +) J)70:123# 5)& 87(&,; ,,+ 5)& &>&'()39,&'(&; #&7>139+7 ,+6191?71+#
#;
:4 [& 2713+4 '(.%4Ak,'+ ,% +4C-('B-)*+ 54'A'(+6-2
$ 8&'3 #&7? 4%,=B',- ,%
•
S - T & 2+,&3 :& :17&1(+#; #& +# 3)(+7 +) 837(02183'( 5+@-L+4-4%A %6>+(.-(%-A%(.% 5+A -6 -=.+4',-,%6 ; 87(3':+ &21,&'(+# 5)& 2+':)P3, F 38)73371?>&9 '-+ 8+:& #&7 #)8&71+7C 0+ ,+L4+ ,+ /-@+4 :3 +8&73&9,&'(& #&713 +6(1:+ 8&93 7&391P3+(6-L'@',-,% 5'/'@ += -,A'('6.4-.'/-2
" H"$R 3()3 '+ T,61(+ :+ Y'('6.k4'+ ,- 85+(+A'-; 2+, 3 /1'391:3:& :&C $'65'>@'(-4Z ->@'5-4 >%(-6 -,A'('6.4-.'/-6; 4%5%L%4Z %9-A'(-4 % ',%(.'&'5-4 3#
•
+2+77\'213# #)#8&1(3# :& 3(1>1:3: 19021(3#@
?++4,%(-4 % >4+>+4 ,&23'1#,+# :& 2++8&7339+7@
D%d=%4%4 3+# O7%-+# :3 $:,1'1#(73&A0/0 0 OMYWPNO ?+(6+@',- -6 4%C4-6 6+L4% +6 >4+5%,'A%(.+6 - 6%4%A -,+.-,+6 (- >4%/%()*+ % 5+AL-.% o6 -.'/',-,%6 4%@-5'+(-,-6 - J-/-C%A ,% $'(K%'4+2
7S 4%/%(.'/-6O F4'(5:>'+ ,+ P?+(K%)- 6%= ?@'%(.%Q $# 1'#(1()1&9 2+, #&) 8+7(& & >+9),& :& +8&73%4A-(%(.%6 '(&+4A-)N%6 d=% >%4A'.-A 5-4-5.%4'BGj@+6 += (*+ 5+A+ >%66+-6 %9>+6.-6 >+@'.'5-A%(.% RF8FS & 1:&'(1/1237 3 +71%&, :+# /)':+# &'>+9>1:+# '3# (73'#3-:6%6Z (&771(O71+# & :&8&':\'213# (73'%&17+#; 237%+#; &,87&%+# +) /)'`L@'5-6 4%@%/-(.%6Z -66'A 5+A+ 6%=6 4%>4%6%(.-(.%6Z &-A'@'-4%6 % +=.4-6 >%66+-6 ,% 6%= 4%@-5'+(-A%(.+ >4g9'A+2
TU
Q+ 23#+ :& 2291&'( 91&'( 673#19&17+#; :&>&, :&>&, #&7 3673'%1:+#C 3673'%1:+#C "# :&(&'(+7 :& ,3':3(+# &9&(1>+# :+# A+:&7 IB&2)(1>+ & p&%1#93(1>+ :3 S'1-+
•
"# +2)83'( :& 237%+; '+ A+:&7 IB&2)(1>+ :3 S'1-+
•
"# ,&,67+# :+ H+'#&9E+ Q321+'39 :& _)#(1&7'3:+7 :& I#(3:+ & :+ [1#(71(+ R&:&739 & +# 87:&'( :& (716)'31#; :&
•
3##&,69&13# & 2T,373# (3:)31# "# 87&/&1(+# & 87:&'( :& HT,373 V)'121839 ,% 5->'.-'6 ,% 86.-,+6
•
Q+ 23#+ :& 291&'( 291&'( (73'%&17+#; (73'%&17+#; :&>&, #&7 (+,3:3# (+,3:3# 3# #&%)1'( #&%)1'( 87+>1:\'213#C H+'#1:&737 2+,+ AIA 3 8#+3 5)& &B&72& +) &B&72&) /)'-4.'4 ,- ,-.- ,% '(:5'+ ,- 4%@-)*+ ,% (%Cg5'+ += ,- ,-.- %A d=% + 5@'%(.% >-66+= - 6% %(d=-,4-4 5+A+ F8F2 K-+ 2+'#1:&73:+# /3,19137 +6 >-4%(.%6Z (- @'(K- 4%.-Z -.k + >4'A%'4+ C4-=Z + 5^(i=C%Z + 5+A>-(K%'4+Z - 5+A>-(K%'4-Z + %(.%-,+ % - %(.%-,-@ $# +8&73%5'-@ -.%()*+@
T7
H91&'( 2+, I#8&2139 $(&'39+7 &, ), +) ,31# 237(= 87ND83%+#; &, ,+'(3'(&
•
32),)93:+ 'C=-@ += 6=>%4'+4 - DsEU2UUUZUU += + %d='/-@%(.% %A A+%,%6.4-(C%'4-@
I,1##-+ +) 7&237%3 :& >39+7 &, 237(-+ 87ND83%+ 5)& 387&'(& 1':021+# :& +2)9(3k5'%Z 6-d=% %A %6>k5'%Z 6-d=% %A %6>k5'% >+4 A%'+ ,% 5-4.*+ >4kj>-C+ += >%,',+ ,% >4+/'6'+(-A%(.+ >-4- 6-d=%C [&8O#1(+ &, N21&; #35)& &, N21&; +) #35)& &, N21& 8+7 ,&1+ :& 237(-+ 87ND
•
83%+; ,% /-@+4 'C=-@ += 6=>%4'+4 - DsEU2UUUZUUf [&8O#1(+ &, N21&; #35)& &, N21&; #35)& &, N21& 8+7 ,&1+ :& 237(-+ 87ND83%+
•
+) 8&:1:+ :& 87+>1#1+'3,&'(+ 8373 #35)&; 5)& 387&'(& 1':021+# :& +2)9(3+66-A 5+(&'C=4-4 - %9'6.h(5'- ,% '(,:5'+6 ,+6 54'A%6 @'C-,+6 - J-/-C%A ,% $'(K%'4+f
$# +8&731%4>%.4-4 -.+6
T#
.%44+4'6.-6 += (%@%6 >-4.'5'>-,+ += &-5'@'.-,+ + 6%= 5+A%.'A%(.+ ; 6&, 2+,+ 3 &B1#(\'213 :& 7&2)7#+# 8&7(&'2&'( +) 8+7 &9 2+'(7+93:+# :17&(3 +) 1':17&(3,&'(&f 1 ':17&(3,&'(&f
•
V6 -.+6 6=6>%'.+6 ,% &'(-(5'-A%(.+ ,+ .%44+4'6A+2
$# 1'#(1()1+(6-L'@',-,% -,A'('6.4-.'/- :& 5)& (73(3, +# +# 271, :& ]93>3%&,^ +) +2)9(31:3:& 871'21839
•
+) 32#O713; 2),)93(1>3,&'(& +) '-+; 3 2)#(O:13; &,1##-+; :1#(716)1+6.%4'+4%6 o ,-.- ,- `@.'A- -.=-@'B-)*+2 K&7-+ 8&7,1(1:3# '+>3# ,+>1,&'(31:+# '3# (73'#3&7'3,&'(39 3##&,&9E3:3 F HUV; -,A'.%j6% d=% -6 >4+/',h(5'-6 >4%/'6.-6 (1(6.4=)*+ ?HY 6%i-A -,+.-,-6 >%@-3:+(3:+#@ '(6.'.=')*+ HUV + 32#+ 3+##U7 :3:+# & 87+2&:1,&'(+# 3:+(3:+# @ %6.4-(C%'4-; ::& 5)& 3##&%)73:+ F
T;
4,81%"-.' =BC YOKPNO I##3 1'#(7)&7 :& >&71/123%4-)N%6 += >4%6.-4 6%4/')+6 6%A d=% /%4'&'d=%A 6=- -,%d=-)*+ -+ >%4&'@ ,+ 5@'%(.%2
"# 87+/1##1+'31# :&>&, >&71/1237 #&C L4 " 87+:)(+; #&7>1&9 2+, + 87+:)(+; #&7>1&, 3'391#37; '+ ,0'1,+C U39+7 :3# 7&2&1(3# 7&%)937 :&29373:3# 8&9+ 291&'(&
•
U39+7 & +# 3(1>+# 5)& 2+,8=&, + 83(71,*'1+ :+ 291&'(&
•
$ '&2#1:3:& /)()73 :& 7&2)7#+# :&29373:3 8&9+ 291&'(&
•
TI
A373 2),871,&'(+ :3 3>3913+# #)6J32&'( M4 " 8&7/19 :+# &,1##+7 & 87(3:+7 :& #&7>1139+# '-+
•
#)8&71+7 3 M` , A7+2&:&7 3 '+>3 3'?91#& & 293##1/12339+7 ,+6191?71+# &,
•
1'(&7>39+# '-+ #)8&71+7 3 M` ,
$ +671%3(+71&:3:& :& >&71/1237 3 3:&5)31&7 #)3 237(&173 :& >39+7 ,+6191?71+# 3:,1'1#(73:3 :1#27121+'3713,&'(&
•
8+7 3:,1'1#(73:+7 :& 237(&173# :& >39+7& >39+7# ,+6191?71+# 3)(+71P3:+ 8&93 HUV
" 291&'(& J? (1>&7 + #&) 8&7/19 :&/1'1:+ 8+7 ), 2+'#)9(+7 :& >39+7 ,+6191?71+#
•
3)(+71P3:+ 8&93 HUV & (&J3 1,89&,&'(3':+ 3 7&2+,&':33# 8373 -.%(,%4 -6 (%5%66',-,%6 ,+6 '(,'/:,=+6@
I#(3 21\'213 8+:& #&7 :1>1:1:3 &, :)3# ?7&3#C Y'54+%5+(+A'-C " ():+ &+5-,+ (+ '(,'/:,=+; '3# &,87# & '3# /3,0913#;
•
87+69&,3(1P3':+ +# ::+673,&'(+# 9O%12+# :& #)3# 33':+ &, 2+'#1:&734%6-6 ,%6%i-A >4+,=B'4 - =A ,%.%4A'(-,+ (:/%@ ,% >4%)+2 n)3'(+ ,31+7 /+7 + 87&39+71P339+71P3&9 :+ AGq & '0>&1# 2+'(7+93:3,&'(& 631B+# :& 1'/931#(+ 5)& ), 27,&'(+ &2+'*,12+ :+'(7+93:+ .321,3 :+ #&) 8+(&'21394; 32363 %&73':+ 0':12 :& 3),&'(+ :& 87&&1# 8373 ,3')(&'+9>1,&'(+ &2+'*,12+@ $ Y%.- ,% '(&@-)*+ k =A >-4lA%.4+ %6.'>=@-,+ >%@+ ?+(6%@K+ Y+(%.G4'+ W-5'+(-@ R?YWS & (&, 2+,+ +6J&(1>+ 1,8)(37 ),3 /31B3 :& 0':12 :& 87&&9 :3 &2+'+,13 :+ 830#@
ET
K+6 ),3 >1#-+ 29?##123; 8+:&,+# +6#&7>37 5)& +# /3(+7 5)& ,31# 1'/9)&'213, :17&(3,&'(& 3 1'/93&1# 8&9+# 2+'#),1:+7@ 2+'#),1:+7@
EE
=$>5">' /0 4,+>0-.' A373 #& 2392)937 5)31# #-+ +# 1,832(+# %&73:+# 8&9+ &/&1(+ 1'/9321+'?71+; 8+:&,+# )(191P37 3# #&%)1'( /O7,)93#C
"#$%&& ()* "#$% ()*#$#$ + "#$%& "#$%& (,)(,)-&.% &.%&& / 01 2 3,4$ 3,4$#56% #56%77 89%A>@+O Q),3 '(&@-)*+ -(=-@ ,% 7Ex; 5)39 + ,+'(3'(& '&2#?71+ 8373 #& 3:5)1717 ), :&(&7,1'3:+ 87+:)(+ E+J&; #&':+ #&':+ 5)& KG =A -(+ -.4G6 (39 87+:)(+ >3913 Ds 7UUZUUr
K& 3'( 2+, Lhhs :+ ,&) :1'E&17+; &) 2+'#&%)13 2+,8737 (& 87+:)(+ (73'5)193,&'(&; E+J& &) #O 8+##+ 2+,873D9+ 8+7 Lms 3 ,31# :+ >39+7 3'(&71+7@ p+%+; 8+:&,+# :1P&7 5)& 8373 +6(&7 :&(&7,1'3:+ 87+:)(+ E+J& &) (&'E+ 5)& :&':&7 :& LLms :+ >39+7 5)& &) 83%3>3 3'(&71+7,&'(&@ H+9+23':+ + 8&72&'()39 :& LLms &, :&21,39; 2E&%3,+# 3+ 'i,&7+ :& L;Lm 5)& 8+:&,+# ,)9(1891237 8373 2E&%37 3+ 7)9(3:+@
K&%)1':+ #3 9O%123; 8+:&,+# 2E&%37 3+ 7)9(3:+ :&J3:+ :3 #&%)1'(& /+7,3C U39+7 $()39 t Lhh B .L u h;Lm4 U39+7 $()39 t Lhh B L;Lm U39+7 $()39 t dl LLm;hh
89%A>@+ "O S,3 :&(&7,1'3:3 ,&723:+713 2)#(3>3 Ds #UZUU; 8+7N,; -@C=(6 A%6%6 ,%>+'6; #3 ,&723:+713 83##+) 3 >39&7 Ds "IZUU@ v+)>& ),3 1'/93& ),3 :&/93+ '#3 /O7,)93; 8+1# #& (73(3 :& ),3 5)&:3 :+ 87&5">' /' H'/*% /* ='#3:+7; q&9+
o
v+71P+'(&; d1+ :& _3'&17+; K-+ A3)9+; H)71(163; U1(O713; A+7(+ $9&%7& & q73#0913@ .77 4%C'N%6 A%.4+>+@'.-(-64
V)'12081+#C k+1T'13 & H3,8+ k73':&@ . " A=('5:>'+64
o
X(5',% W-5'+(-@ ,% F4%)+ -+ ?+(6=A',+4 R1WF?SO
•
! ! ! ! !
H392)93 + 87&&9 N + 1\b82 R31B3 :& 7&':3C ,% 7 - E 6-@G4'+6 A:('A+62 A&70+:+ :& 2+9&(3C $+ ,'- 7 -+ ,'- #U ,% 5-,- Ah62 [1>)9%3&9 N 3 [bH@ R31B3 :& 7&':3C ,% 7 - ## 6-@G4'+6 A:('A+6@ ! A&70+:+ :& 2+9&(3C $+ ,'- "7 -+ ,'- "U ,% 5-,- Ah6 @ ! [1>)9%3&9 N 3 [bH2 R31B3 :& 7&':3C ,% 7 - ## 6-@G4'+6 A:('A+62 A&70+:+ :& 2+9&(3C $+ >4'A%'4+ -+ `@.'A+ ,'- ,% 5-,- Ah62 [1>)9%3%SO
•
! ! ! ! !
G'#(1()(+ 7+'#?>&9 N 3 ['>%2 $,+#(73%&, 2+,8+#(3 8&93 >+>=@-)*+ ,+ A=('5:>'+ ,% 4'A%'4+ -+ `@.'A+ ,'- `.'@ ,+ Ah6 ,% 4%&%4h(5'-Z -.=-@'B-,+ .+,- 6%A-(-2 [1>)9%3&7? ),3 87+:)4+,=.+ A-4C'(-@@
IB&,89+C Q),3 :&(&7,1'3:3 /3P&':3 E? ), 3),&'(+ :+ 'i,&7+ :& (73639E3:+7 (73639E3:+7 .R3(+7 :& A7+:)+@ .IBC 3 /371'E3 )#3:3 8373 /3P&7 + 8-+ '-+ &'(73 '+ 2?92)9+ :+ AGq4
v? Z /+7,3# :& 2392)937 + AGq :& ), 830#C
7S ].'5- ,+ D%(,'A%(.+O j 3 #+,3(O713 :& (+:3# 3# 7&,)'&73(1,&'(+# :3# I,87# k t k3#(+# :+ k+>&7'+ z t IB8+7(3+@:.'5,% 5+A>4- % /%(,- ,% .:.=@+6 >%@+ \-(5+ ?%(.4-@; >1#3':+ ), :17&21+'3,&'(+ 8373 +# 3%7&%3:+# ,327+&2+'*,12+# ,327+&2+'*,12+# :+ 830#@ H3#+ + H"A"V :&21:3 8+7 -=A%(.-4 - %4-)N%6 &'(-(5%'4-6 ,'G4'-6 7&391P3:3# &'(7& +# 63'2+#@ 0 \# R-(.'C- ?%.'>S ,'/=@C- %6.- .-9- -(=-@'B-,- :3# +8&734'(5'>-'6 L%(5KA-4e6 :& 7&,)'&73%4-A (+ A%45-,+ J+(,4%6; #&':+ )(191P3:3 2+,+ 7&/&7\'213 '3# (73'#3(1:+ &, #)3# 3(1>1:3: :3:3 3 8&72&8(1:+#:&'&9&@ .D'65+ ?4k,'.+ ,+ >-:64 E+'737 2+, + 83%3,&'(+ :+# 2381(31# I##3 (3B3 2+#(),3 #&7 &B87#3 &, >+(.+6 L-6%6 R\>6S; #&':+ 23:3 8+'(+ 63#& 1%)39
•
h;hLs@ .Lhh q8# t Ls4
A30# 5)& 83##3, 8+7 6'.=-)N%6 >4%5G4'-6 (+ 6%= 5%(G4'+ %5+(^A'5+ += >+@:.'5+
•
(-+ ,31# #)J&1(+# 3 '(6.-L'@',-,%6 (-6 5+(,')N%6 ,% >-C-A%(.+ ,-6 ,:/',-6; :#3 /+7,3 8+:&,+# :1P&7 5)& # 830# >+66=%A A-'+4%6 4'65+6@
$ i'123 /+7,3 :+# 1'>(1:+7 38+7(37&, #&) 2381(39 &, 830# 2+, (3B3# :& 71#2+
•
,31# &9&>3:3# #&7? + -=A%(.+ ,-6 .-9-6 i=4+6 ,%66% >-:6 ; 8+1# 5)395)&7 (18+ :& 1'>(1,&'(+ 2+, A-'+4 4'65+ 6g 6% .+4(- A-'6 -.4-.'/+ d=-(,+ +&%4%5% A-'+4 4%.+4(+@
$# .-9-6 ,% i=4+6 ,+6 >-:6%6 ,%6%(/+@/',+6 ; &, &2139 3 (3B3 :& J)7+# :+# IS$;
•
#-+ )(191P3:3# 2+,+ >-4lA%.4+ >-4- 5+A>-4-4 + (:/%@ ,% 4'65+ ,% 5-,- >-:6@ !
"# >-:6%6 A-'6 ,%6%(/+@/',+6 :+ ,)':+ 8+##)&, 4'65+6 A%(+4%6; 9+%+ A%(+4%6 .-9-6 ,% i=4+6@
!
"# >-:6%6 A%(+6 ,%6%(/+@/',+6 :+ ,)':+ 8+##)&, 4'65+6 A-'+4%6; 9+%+ A-'+4%6 .-9-6 ,% i=4+6@
I7
H'>;1&50 /* E*,/0 j 3 8+90(123 +':& + %+>&7'+ &B&72& 5+(.4+@% ,'4%.+ 6+L4% - 4%A=(%4-)*+ ,+6 &-.+4%6 ,% >4+,=)*+ .#39?71+#; :&87&2131:&':+#; 87&%@+ A%45-,+@ A373 + 3(&':1,&'(+ :+# 1'(&7# #+2131#; + %+>&7'+ 8+:& 1'(&7/&717 '3# /+74+5%66+ '(&@-5'+(G4'+@
I"
H'>;1&50 @&850> j 3 8+90(123 5)& &'>+9>& 3 377&23:3&7'+; +) #&J3; (&, 2+,+ +Li%.'/+ ,'4%5'+(-4 +6 C-6.+6 ,+ 6%.+4 >`L@'5+ += +6 'A>+6.+6 5+L4-,+6 ,-6 &-A:@'-6 % %A>4%6-6@
IB1#(&, " 4%
[email protected],+6 5+(.GL%'6 5)& #-+ 3'391#3:+# 8&9+ %+>&7'+C
D%
[email protected],+6 F4'AG4'+ N + #39:+ :3# 2+'(3# :+ k+>&7'+ H&'(739 2392)93:+ 3 837(17 :3# 4%5%'.-6 C%4-,-6 -.4-/k6 ,- -44%5-,-)*+ ,% .4'L=.+6 6=L.4-:,-6 >%@-6 6=-6 ,%6>%6-6 (*+ &'(-(5%'4-6 RC-6.+6S :)73'(& + 8&70+:+ :& ), 3'+@ !
n)3':+ 3# 7&2&1(3# 9&>3'(3:3# 8&93 377&23:3&7'+ E? ), %4G/'. >4'AG4'+
!
H3#+ 3# :# #&J3, ,31+7 5)& 3# 7&2&1(3# (716)(?713#; E3>&7? ), $k&'5'. >4'AG4'+2
E-H*$)#9% 8&.;A&.% + (&&-C#9#5I-H?J-H+6 ,% >+@:.'5- &'65-@O F+@:.'5- 89>-(6'+('6.- R0=A%(.- + F1\S
•
!
" %+>&7'+ 8+:& -=A%(.- +6 6%=6 C-6.+6 &, 87+%73,3# :& 1'2&'(1>+ &2+'*,12+; :&'>+9>1,&'(+ & 1'/73(7)()73; 1,832(3':+ >+6'.'/-A%(.% (+
F1\@ I#
!
" %+>&7'+ (3,6N, 8+:& -=A%(.-4 + F1\ 3(73>N# :& 4%,=)*+ ,% 'A>+6.+6; 3),&'(3':+ 3 7&':3 :1#8+'0>&9 :3# /3,0913#; 8373 2+'#),17 ,31#; & :3# &,87#; 8373 1'>(17&, ,31#@
F+@:.'5- ?+(.4-5'+('6.- R$'A'(=' + F1\S
•
!
H3#+ + %+>&7'+ +8(& 8+7 5+(.4-'4 +6 C-6.+6; 1##+ 17? 4%,=B'4 + F1\; 8+1# '-+ E3>&7? 1'2&'(1>+# :+ %+>&7'+ '+ 1'>(1,&'(+ &, 87+J&(+ :& :&'>+9>1,&'(+@
!
n)3':+ + %+>&7'+ :&21:& 8+7 -=A%(.-4 +6 'A>+6.+6Z + F1\ .%(,% - ,'A'(='4 @ A+1# 3 7&':3 :1#8+'0>&9 8373 3# /3,0913# & &,87# 32363 #&':+ 7&:)P1:3; 2+'#&5)&'(&,&'(&; 2+'#&5)&' (&,&'(&; + '0>&9 :& 2+'#),+ & 1'>(1,&'(+ (3,6N, 23&,@
IT
H'>;1&50 =0#F&0> c&, 2+,+ 871'21839 +6J&(1>+ 5+(.4+@-4 - d=-(.',-,% ,% A+%,- %6.4-(C%'4- 5'45=@-(.% (=A >-:6 3(73>N# :3 C%6.*+ ,-6 4%6%4/-6 5-AL'-'6; &5)191673':+ + /)'21+'3,&'(+ :3 &2+'+,13@ n)&, &B&2)(3 (3 8+90(123 N + \-(5+ ?%(.4-@2
IB1#(&, # >+@:.'5-6 5-AL'-'6C ?lAL'+ ['9+
•
!
"':& + %+>&7'+ (36&9&2& ),3 >-4',-,% %(.4% - A+%,- @+5-@ % - %6.4-(C%'4- '3 5)39 (*+ 6%4G -@.%4-,-; '(,%>%(,%(.%A% '(,%>%(,%(.%A%(.% (.% ,- -.=-)*+ ,+ A%45-,+@
?lAL'+ [@=.=-(.%
•
!
"':& + %+>&7'+ (*+ >+66=' d=-@d=%4 >-4.'5'>-)*+ '3 (3B3 :& 2T,61+; & 5-L% -+ A%45-,+ >4%5'&'5-4 - .-9- 7&1(3':+ 3# 9&1# :& +/&7(3 & :&,3':3@
?lAL'+ [@=.=-(.% 4%5'-4 + /-@+4 ,+ ,g@-4 /7&'(& 3+ 7&39@ R$'A'(='4 - 5+.-)*+ ,+ ,g@-4S
V ?-AL'-@ D%/%46+
•
!
j 3 5+A>4,&723:+; 2+, 3 /1'391:3:& :& ->4%5'-4 + &=.=4,%3+,g@-4 /-@+4 ,+ ,g@-4 /7&'(& 7&39@ '+ R0=A%(.-4 - 5+.-)*+ ,+ ,g@-4S
IE
H'>;1&50 C',*1$%&0 j 3 8+90(123 5)& 6)#23 5+(.4+@-4 - L-6% A+(%.G4'- '3 &2+'+,13@ n)&, &B&2)(3 (3 8+90(123 N + \-(5+ ?%(.4-@2
IB1#(&, " .'>+6 ,% >+@:.'5- A+(%.G4'-C F+@:.'5- 89>-(6'+('6.- R0=A%(.- + F1\S
•
!
q)#23 ),3 '(i%)*+ ,% A+%,- (- %5+(+A'- ; +) #&J3; ),3 %9>-(6*+ (- L-6% A+(%.G4'-@ H+, ,31# ,+&:3 &, 2172)93+# 8373 2+'#),17Y1'>(17; 9&>3':+ 3 ),3 d=%,- (+ F1\@
VL6%4/-)*+O n)3':+ E? ),3 :1,1')1&9 8+7 ,'4%5'+(-4 % %6.-L%@%5%4 -6 ,'4%.4'B%6 ,- >+@:.'5- A+(%.G4'- % ,%.%4A'(-4 - .-9- ,% i=4+6 R-4- - '(&@-)*+ :&/1'1:3# 8&9+ HVQ@ " H"A"V N 2+,8+#(+ 8+7 b ,&,67+#C •
L A7:&'(& :+ q$HIQ g ,&,67+# :3 [17&(+713 H+9&%13:3 :+ q3'2+ H&'(739@
•
I;
$# 7&)'1= :+ H"A"V +2+77&, M /%B%6 -+ -(+ .5-,- TE ,'-64; #&':+ 7&391P3:3# &, M :13# :3 #&,3'3C _%4)-j&%'4- R0>4%6%(.-)*+ R0>4%6%(.-)*+ ,+6 ,-,+6 % ,-6 >-=.-6 - 6%4%A 6%C=',-6S
•
f=-4.-j&%'4- RH+.-)*+ % - ,%&'(')*+ ,- .-9- ,% i=4+6S2
•
IB1#(&, # &%44-A%(.-6 =.'@'B-,-6 >%@+ \0?8W 8373 87+,+>&7 3 8+90(123 ,+'&(?713C D%,%65+(.+ \-(5G4'+
•
c3B3 :& J)7+# 5+L4-,- >%@+ \-(5+ ?%(.4-@ 8373 7&391P37 %A>4k6.'A+6 -+6 L-(5+6@
!
n)3'(+ A%(+4 &+4 - .-9- ,% 4%,%65+(.+; ,31+7 #&7? 3 87+8&'#-+ :+# 63'2+# :& &,87(37 :1'E&17+ 3+ 8i6912+; -=A%(.-(,+ - d=-(.',-,% ,% A+%,- '3 &2+'+,13@
!
n)3'(+ A-'+4 &+4 - .-9- >4-.'5-,- >%@+ \0?8W ; ,31# 23)(&9+#+# +# 63'2+# :&>&7-+ #&7; 8+1# 23#+ 87&21#&, (+,37 + 7&:+'(+ (&7-+ 5)& 37237 2+, ),3 (3B3 ,31+7; 8+7(3'(+ 3 d=-(.',-,% ,% A+%,- (- %5+(+A'- ,'A'(='2
D%5+@K'A%(.+6 ?+A>=@6g4'+6
•
A&72&'()39 :+# :&8O#1(+# 238(3:+# 8&93# 1'#(1()1=@6g4'- 3),&'(3713 3 5)3'(1:3:& :& ,+&:3 5)& :&>& /1237 &, 8+##& :+ q3'2+ H&'(739 & 4%,=B'4'- - d=-(.',-,% ,% A+%,,'6>+(:/%@ 8373 &,87N#(1,+# :+# 63'2+#@
!
$ ,'A'(=')*+ ,+ 5+A>=@6g4'+ :1,1')1 3 5)3'(1:3:& :& ,+&:3 5)& /1237? '3 2)#(O:13 :+ q3'2+ H&'(739 & -=A%(.-4 - d=-(.',-,% ,% A+%,- ,'6>+(:/%@ 8373 + /+7'&21,&'(+ /+7'&21,&'(+ :& 27N:1(+ :+# 63'2+#@
II
V>%( Y-4e%.
•
j 3 &%44-A%(.- A-'6 GC'@ 8373 2+'(7+9& :3 2172)93+(%(.%6C ?+(.- ?->'.-@ % ['(-(5%'4- R?~[S
•
[(1'3D#& 3 7&%1#(737 + /9)B+ :& 2381(31# :+ 830# 2+, + 7(3'(& :+ ,)':+@ Q(& 2+,8+'&'(& #-+ 7&%1#(73:+# '(/%6.'A%(.+6 ,'4%.+6Z 4%'(/%6.'A%(.+6Z -A+4.'B-)N%6Z %A>4k6.'A+6 % &'(-(5'-A%(.+6@
?+(.- ?+44%(.% += _4-(6-)N%6 ?+44%(.%6 R_?S
•
c73'#3+4.-)N%6 6=L.4-:,+ ,% .+,-6 -6 'A>+4.-)N%6 ,+6 L%(6 7&391P3:3# 8+7 ), 830#@
!
\-@-()- ,% +4 =A 5+(i=(.+ ,% '(6.'.=')N%6 &'(-(5%'4-6 5)& &B&72&, 3 /)'-5',-,% ,% +&%4.-j@+6 &, (7+23 :& ),3 7&,)'&734k6.'A+ :& 7&2)7#+# '+ ,&723:+; &B&72&':+ 3# /)'.-)*+ ,% 4%5=46+6Z 6=4%,'6.4'L=')*+ (+ A%45-,+ 5'45=@-(.% % 4%C=@-A%(.-)* 4%C=@-A%(.-)*++ ,%66% >4+5%66+@
M"
" #1#(&,3 /1'3'2&17+ 8+:& #&7 :1>1:1:+ &, :1>&7#+# #&%,&'(+#C Y%45-,+ Y+(%.G4'+
•
"':& +2+77&, +>%4-)N%6 ,% 5+(.4+@% ,% A+%,- %A 5'45=@-)*+ % ,% .-9-6 ,% i=4+6 :& 2)7(+ 873P+ 8373 %373'(17 3 915)1:&P :+ ,&723:+; #&':+ #3# +8&73%4-)N%6 %&%.=-,-6 (+ A%45-,+ ,% .:.=@+6 % /-@+4%6 A+L'@'G4'+6; #&':+ 3 ?HY - 4%6>+(6G/%@ >%@+ 5+(.4+@% % &'65-@'B-)*+ :#3# +8&73+(:/%'6; 3##1, 2+,+ 3# 2+':1+# :+ #1#(&,3 /1'3'2&17+ '321+'39 #-+ 35)&9 5)& 8+##)&, 3 /)'+ ,%@'L%4-.'/+ % ,%5'6g4'+; &B1,1':+D#& :& &'(737 '3 87?(123 :3 &B&2)+@:.'5-6 ,% 54k,'.+Z A+(%.G4'-6 % 5-AL'-'6@
$ 8+90(123 :+ H+'#&9E+ V+'&(?71+ Q321+'39 +6J&(1>37?C 0,->.-4 + >+9),& :+# ,&1+# :& 83%3,&'(+ F# 7&31# '&2#1:3: :3 &2+'+,13
•
'321+'39 & #&) 87+2#+ :& :&'>+9>1,&'(+f
D%C=@-4 + >39+7 1'(&7'+ :3 ,+&:3; 8373 (3'(+ 87&>&'1':+ +) 2+771%1':+ +# #)7(+#
•
1'/9321+'?71+# +) :&/9321+'?71+# :& +71%&, 1'(&7'3 +) &B(&7'3; 3# :&87#= &2+'*,123# & +)(7+# :&5)190671+# +71)':+# :& /&'*,&'+# 2+'J)'()731#f D%C=@-4 + >39+7 &B(&7'+ :3 ,+&:3 & + &5)190671+ '+ 6393'1#(3 3 ,&9E+7 )(191P31#(3 >1#(3 87+812137; 87+812137; '3# :1/&7&'( 7&%1= :+ A30#; 2+':1+7?>&1# 3+ :&'>+9>1,&'(+ E37,*'12+ :3 &2+'+,13 '321+'39f
F4+>'5'-4 + 38&7/&1+ 7+'#?>&9 8+7 (+4A-.'B-4 % ,'65'>@'(-4 -6 %(.',-,%6 ,% >4%/',h(5'5+A>@%A%(.-4 &%5K-,- R[=(,+6 ,% F%(6*+S2
ME
='#0/'%*8P!"&1# 8+7 4%C=@-A%(.-4 -6 ,'4%.4'B%6 %@-L+4-,-6 >%@-6 %(.',-,%6 (+4A-.'/-6 :+ #1#(&,3 /1'3'2&17+; %9%5=.-(,+ - ->@'5-)*+ ,%66-6 (+4A-6 % 6=>%4/'6'+(-(,+ + 5=A>4'A%(.+ ,-6 A%6A-6 8+7 837(& :3# 1'#(1()1+ 8373 &'(737 '+ 3#8&2(+ :3 87?(123; %9%5=.-(,+ 6=-6 &=()N%6 &, 87+9 :+ &5)190671+ & 6+, /)'21+'3,&'(+ :+ #1#(&,3; +4'%(.-,+6 >%@+6 >-4%5%4%6 ,-,+6 >%@-6 %(.',-,%6 (+4A-.'/-6@
7S \-(5+ ?%(.4-@ ,+ \4-6'@ R\0?8WS j ),3 -=.-4d='- &%,%4-@; /'(5=@-,- -+ Y'('6.k4'+ ,- 85+(+A'-; 3()3':+ 2+,+ O7%-+ &B&2)(1>+ 871'21839 :+ #1#(&,3 /1'3'2&17+ '321+'39; 4%6>+(6G/%@ >+4 %9%5=.-4 -6 ,'6>+6')N%6 ,%@'L%4-,-6 >%@+ ?YW@
I'(7& 3# 871'21831# 7+'#36191:3:& 7+'#36191:3:# :+ q$HIQ; :(323D#&C $ 2+':)3,&'(& 3+ q3'2+ H&'(739 :+ q73#19C
M;
8A'.'4 ,+&:3D838&9 & ,+&:3 ,&(?9123; '3# 2+':1+(6Z ,'4%'.+6Z 4%5'L+6 ,% 6=L654')*+ & 5%4.'&'5-,+6 ,% ,%6,+L4-A%( ,%6,+L4-A%(.+ .+
•
"# 5%4.'&'5-,+6 ,% ,%>g6'.+
•
$# 5k,=@-6 ,% ,%Lh(.=4%6
•
$# 5+.-6 ,% &=(,+6 ,% '(/%6.'A%(.+ +) :& 5@=L%6 ,% '(/%6.'A%(.+
•
$# (+.-6 5+A%45'-'6
•
"# 5+(.4-.+6 &=.=4+6Z ,% +>)N%6 % +=.4+6 ,%4'/-.'/+6; 2)J+# -.'/+6 6=Li-5%(.%6
•
6%i-A /-@+4%6 A+L'@'G4'+6
V=.4+6 5+(.4-.+6 ,%4'/-.'/+6Z '(,%>%(,%(.%A%(.% ,+6 -.'/+6 6=Li-5%(.%6
•
895@=%Aj6% ,%66- @'6.-O V6 .:.=@+6 ,- ,:/',- >`L@'5-
•
V6 .:.=@+6 5-AL'-'6 :& 7+'#36191:3:& :& 1'#(1()1'.-@'B-)*+; #&':+ >1'2)93:+ 3+ Y'('6.k4'+ ,- 85+(+A'- & #&%)1':+ :17&(3,&'(& 3# :17&(71P 1,8+#(3# 8&93 ?W4%/',h(5'- 5+A>@%A%(.-4 &%5K-,-6; >1'2)93:3 3+ Y'('6.k4'+ ,- 85+(+A'- & +71&'(3:3 8&9+# +7:&'3,&'(+# :3 ?WF?2
86.4=.=4- ,+ -4-4 -6 >+66:/%'6 >%4,-6 6+&4',-6 >+4 -@C=A '(/%6.',+4 >+4 A+.'/+6 ,% +A'66*+ += %44+ +>%4-5'+(-@ 873(123:+# 8+7 39%), 39%), 3%&'(& :+ #1#(&,3@ #1#(&,3@ R)'21+'3':+ 2+,+ ),3 /+7,3 :& 2+6&7()73 8373 +# 837(12183'( :+ ,&723:+; +/&7&2&':+ 3 &9 ,31# ),3 /+'(& :& #&%)73'1:3:& :3 3:,1'1#(73&9; 2+, +6#&7>T'213 :+ 87+2#+ 9&%39 &; (73(3':+D#& :& 3(1>1:3:& 5)& 3 9&1 (&'E3 2+,+ :1#27121+'?713; #&, 36)#+ +) :>1+ :& 8+:&7W@
:& 8+90213 8+##)1 :&% 8A 4%6=A+; + 8+:&7 .4-.-j6% ,- -=.+4',-,% d=% ;=A 5+(,'5'+(-4 %9%45:5'+ ,-6 -)N%6 % ,'4%'.+6 '(,'/',=-'6 '+ g4C*+ 1'()1(+>`L@'5+ :& >4+A+/%4 >4%6%4/-4 + L%Aj%6.-4 5+@%.'/+@ K)3 /)'1:)391#(3#@ 1':1>1:)391#(3#@
3;
3I
4,81&1"&-G*8 @&,0,5*&%08 H+'#1:&73,D#& 1'#(1()1%66+-6 i=4:,'5-6 >`L@'5-6 += >4'/-,-6; 5)& (&'E3, 2+,+ 3(1>1:3:& 871'21839 +) 32#O713 - 5+@%.-Z '(.%4A%,'-)*+ += ->@'5-)*+ ,% 4%5=46+6 &'(-(5%'4+6 >4g>4'+6 += ,% .%45%'4+6; &, ,+&:3 '321+'39 +) (73'%&173; % 5=6.g,'- ,% /-@+4 ,% >4+>4'%,-,% ,% .%45%'4+62
K&':+ &93# 2+,8+#(3# 8+7 :+1# (18+# :1/&7&'(C c18+# :& G'#(1()14%6-6 ,% (-5'+(-@',-,% L4-6'@%'4-@
!
1'#(1()1-4.'5'>-)*+ 5+A F-4.'5'>-)*+ 86.4-(C%'4 8+##)3, %6.4-(C%'4%6.4-(C%'4,% 7Ux - CEUx :+ #&) 2+'(7+9&@
!
W-5'+(-'6 5+A ?+(.4+@% 86.4-(C%'4+C 1'#(1()13# :& 27N:1(+
1(6.'.=')N%6 (*+ L-(5G4'-6 R+= (*+ A+(%.G4'-6S
•
.-4 ,%>g6'.+6 o /'6.- ; #&':+ &93#C !
!
q3'2+# :& G'>(1,&'(+ q3'2+# Vi9(189+# #&, H37(&173 H+,&72139 K+21&:3:& H+77&(+73 :& c0()9+# :& U39+7 V+6191?71+# K+21&:3: [1#(716)1:+73# :& c0()9+# U39+7 V+6191?71+# K+21&:3: :& H7N:1(+; R1'3'213,&'(+ & G'>(1,&'(+ K+21&:3:& :& H7N:1(+ G,+6191?71+
!
$%&'( $)(*'+,+# :& G'>(1,&'(+
! ! ! !
$ 293##1/123%4-)*+ #& :1>1:& &, :+1# %7)8+#C 1(6.'.=')N%6 ,% 54k,'.+
•
K-+ 1'#(1()1%4-)N%6 ,% 5+(5%66*+ += 5->.-)*+ ,% 54k,'.+ &'(7& +# 3%&'( &2+'*,12+#@
33
1(6.'.=')N%6 ,% 5->'.-'6 R,'6.4'L=',+4-6 ,% /-@+4%6 A+L'@'G4'+6S
•
3 8373 #)871,&'(+ :& 2381(39 /1B+ & :& %17+ & :& 3:,1'1#(73&, #&7 2+'#(1()0:+# #+6 3 &+4A- ,% +66=%A 5+(.-6 5+44%(.%6 & 238(3, 7&2)7#+# >13 ,%>g6'.+6 - >4-B+; 7&83## :& 7&2)7#+# &B(&7'+#; 1'(&7'+# & >&':3 :& 2+(3# :& /)':+# :& 1'>(1,&'(+ 8+7 &9 3:,1'1#(73:+#@ q3'2+# :& 1'>(1,&'(+ #-+ 1'#(1()1%@+ \0?8W % >%@- ?HY 8+##)1':+ 2+,+ 871'21831# ,&1+# :& 238(3@+6 K-+ 1'#(1()13:3# +) 8i69123# 5)& 7&391P3, 3# +8&733#; 83##1>3# & 32#O713# :3# :1>&7#3# 1'#(1()11+,%(,+ 5->.-4 ,%>g6'.+6 o S,3 23732(&70#(123 :1#(1'(1>3 :3 H31B3 N 5)& &93 871+71P3 3 2+'2#-+ :& &,87N#(1,+# & /1'3'213,&'(+# 3 87+%73,3# & 87+J&(+# '3# ?7&3# :& 3##1#(\'213 #+2139; #3i:&; &:)23%4-4 5+AO ?4k,'.+ ,'4%.+ -+ 5+(6=A',+4Z
•
R1'3'213,&'(+ :& 6&'# :& 2+'#),+ :)7?>&1#
•
I,87N#(1,+ #+6 %373'(13 :& 8&'E+7 1':)#(7139 & 23)g@'+ ,+ %A>4k6.'A+ 6+L >%(K+4 :& 6&'#
• •
A+##)1 + A+(+>g@'+ ,- /%(,- ,% L'@K%.%6 ,% @+.%4'- &%,%4-@@
•
$9N, :1##+C H&'(7391P37 + 7&2+9E1,&'(+ & 389123(1,&'(+ ,31# (73:121+'39 :+ 830#; (3,6N, +/&7&2&':+ @'d=',%B ,'G4'- % '6%()*+ ,% 1A>+6.+ ,% D%(,-@ K)3 7&,)'&734%6.-4 6%4/')+6 &'(-(5%'4+6 ,% A+,+ A-'6 6'A>@%6 % /-(.-i+6+ -+6 6%=6 -66+5'-,+6 ; 8+##16191(3':+ + 32#+ 3+ 27N:1(+ & +)(7+# 87+:)(+# /1'3'2&17+#@ $# 2++8&73(1>3# 8+:&, #&7 /+7,3:3# 8+7 8#+3# :& ),3 :&(&7,1'3:3 87+/1##-+ +) 3(1>1:3:&f -C4'5=@.+4%6t >%d=%(+6 % A'54+%A>4%6G4 A'54+%A>4%6G4'+6Z '+6Z '&2#1(3':+ :& '+ A:('A+ "U A%AL4+6 8373 &B&72&7 #)3# 3(1>1:3:@ $# 2++8&73(1>3# >-66-4-A - 6% %d='>-4-4 - =A- '(6.'.=')*+ &'(-(5%'4-; #&':+ 3)(+71P3:3# 3 3()37 &, +8&7339+7 ,+6191?71+# K)6#27&>&7 &,1##= :& (0()9+# & >39+7 ,+6191?71+# '+ ,&723:+ G'#(1()17; +7%3'1P37 & 3:,1'1#(737 /)':+# & 29)6 :& 1'>(1,&'(+ G'(&7,&:137 +8&73&':3 :& ,+&:3 (73'%&173; 39N, :& +)(73# +8&73&':3 :& ,+&:3 (73'%&173 &, N21&; 3# 2+77&(+73# :& 2T,61+ (3,6N, 7&391P3, +8&73 D%6+@=)*+ ,+ ?YW "2M#M [1#8=& #+67& 3 3(1>1:3:& :& 3%&'(& 3)(*'+,+ :& 1'>(1,&'(+@
•
I#(36&9&2& 5)& + $$G k - >%66+- (-.=4-@ += i=4:,'5- =('>4+&'66'+(-@ d=% .%(K5+A+ -.'/',-,% - ,'6.4'L=')*+ % A%,'-)*+ ,% .:.=@+6 % /-@+4%6 A+L'@'G4'+6; #&,87& #+6 3 7+'#36191:3:& & 2+,+ 87&8+#(+ :3# 1'#(1()1.+6 %A %9-A% ,% 5%4.'&'5-)*+ +4C-('B-,+ >+4 %(.',-,% ,% 4%5+(K%5',- 5->-5',-,% .k5('5-@ $# 1'#(1()1%@- -.=-@'B-)*+ >%4'g,'5- ,+6 5+(K%5'A%(.+6 :& #&)# &,87&%3:+# 2+'#1:&73:+# 38(+#@ .[17&(71P :& I:)23'%*8 C'F&>&$%&'8 \=BC WMNPXa] "# ,&723:+# 7&%)93,&'(3:+# :& >39+7 ,+6191?71+# 2+,87&&':&,C X V6 A%45-,+6 +4C-('B-,+6 ,% L+@6- % L-@5*+ X V6 A%45-,+6 ,% L-@5*+ (*+j+4C-('B-,+ (*+j+4C-('B-,+66
7S Y%45-,+ +4C-('B-,+ ,% /-@+4%6 A+L'@'G4'+6 j + ₓ+7 ,+6191?71+#@ X A&7,1(&, 3 &B&2)-,4N%6 %9'6.%(.%6 (+6 A%45-,+6 +4C-('B-,+6@ K-+ &/&()3:+# '&%O21+# '+ T,61(+ :3 1'/+7,391:3:& & 5)& (*+ >+66=%AO X J+5-@ &:6'5+ %6.-L%@%5',+ X ['65-@'B-)*+ ,'4%.- ,% g4C*+6 4%C=@-,+4%62
77#
77T
3/#&,&81%0-.' /* E&85' 7S $%&'(')*+ ,% D'65+ D'65+ >+,% 6%4 ,%&'(',+ 5+A+ - '(5%4.%B- %A 4%@-)*+ -+ 4%.+4(+ %6>%4-,+ :& ), 3(1>+ +) ),3 +8&7373#; 71#2+ N 3 /+@-.'@',-,% ,+6 4%.+4(+6 %6>%4-,+6 %A .+4(+ ,% =A- Ak,'-; #&':+ ),3 /+7,3 :& )(191P37 3 #)3 :1#8&7#-+ 8373 5)3'(1/1237 3# 1'2&7(&P3# :+# 7&(+7'+#@
"S D'65+ 9 D%.+4(+ n)3':+ /393,+# &, ,&723:+ /1'3'2&17+; - 4%@-)*+ 4'65+ % 4%.+4(+ 6%A>4% %6.-4G >4%6%(.%2 H+,+ 871'2081+ %&739; 8373 +6(&7 ), 4%.+4(+ A-'+4; + 1'>(1:+7 87&21#3 2+77&7 ), 4'65+ A-'+4@ H+'#&5)&'(&,&'(&; ), 1'>(1:+7 2+'#&7>3:+7 (&7? 5)& 36717 ,-+ :& ), 7&(+7'+ ,31+7; >1#3':+ 3(1>+# ,31# #&%)7+#@
D'65+ u
F+.%(5'-@ ,% D%.+4(+ u Vr
D'65+ v
F+.%(5'-@ ,% D%.+4(+ v
77E
#S 4%-, ,% D'65+ c+:3# 3# 389123%4'+4 %A 4%@-)*+ -+ -.'/+ @'/4% ,% 4'65+ :3 &2+'+,13 ./,01 2+$$3 :&>&, 8+7 2+'>&'`L@'5+S@ I##& 327N#21,+ :& 7&,)'&73(1:+7 8+7 1'2+77&7 &, 71#2+# ,31+7 5)& + d1#2+ K+6&73'+; N 2+'E&21:3 2+,+ -.#+$/ ,% D'65+ += F4hA'+ ,% D'65+@
VL6%4/-)*+O 9 "#$%&'# (%)%&*+ , # %-.//#& 01% #2%&%3% # -%'#& &./3# )* %3#'#-.* : /)*,%&,) )1 ,;,+-)1 "# ";2'"% #$','")1 /)* #-# 1@+O S, .:.=@+ >`L@'5+ RD'65+ 3 5)& %&73 ,31# 7&(+7'+; ), 1'>(1:+7 :&21:& 3891237 &, ), ?$\ ,+ \-(5+ 0 R8A'66+4 ,% A-'+4 4'65+S 5)& 7&,)'&73 3 Mx -+ -(+@
!3,+# &'(-+; 5)& (& H[q 93#(7&3:+ '3 :0>1:3 :+ q3'2+ $ (? 7&,)'&73':+ 3 ),3 (3B3 #)8&71+7 F (3B3 :+ (0()9+ 8i6912+; :&>1:+ 3 8&72&81#= :& 1'#+9>\'213 :+ k+>&7'+ R&:&739@
77;
86.% ,'&%4%(5'-@ ,% 7ZEx %(.4% -6 .-9-6 :+# M (0()9+# 7&87&'(3 + -.#+$/ ,% ,% D'65+ 5)& + 1'>(1:+7 :&>& 7&2&6&7 8+7 +8(37 8+7 ),3 39(&7'3(1>3 :& A-'+4 4'65+@ c+:+ '(/%6.',+4 4-5'+(-@ 17? #&,87& +8(37 8&9+# 1'>(1,&'(+# 5)& A%@K+4 4%A=(%4-A ,%(.4+ ,% =A- &-'9- %6.'>=@-,- ,% 4'65+@
77I
=>088&+&50-G*8 /* E&85' 7S D'65+ ,% ?4k,'.+ I#(& N + 71#2+ :& (*+ >-C-A%(.+ >+4 =A- ,-6 5+(.4->-4.%6 %A =A- +>%4-)*+ ; 2392)93:+ 8&9+ /-@+4 ,- +>%4-)*+ A=@.'>@'5-,+ >%@- >4+L-L'@',-,% ,% '(-,'A>@h(5'-@ " 71#2+ :& 27N:1(+ :& :&(&7,1'3:+ 3(1>+; &,87 +) 830# 8+:& #&7 3)/&71:+ 8+7 ,&1+ :& 3>3913+ & 83##1>+ 83##1>+ :3 6393'%(-@'B-)*+ += - 'A>+66'L'@',-,% ,% 5+A>4- += /%(,- :& ), 3(1>+ :&>1:+ 3+ &B2#+ :& >&':&:+7 +) F /39(3 :& 2+,873:+7 :(& 3(1>+ '35)&9& ,+,&'(+@
$
[email protected] ,% @'d=',%B :& ), 838&9 8+:& /3P&7 2+, 5)& #)3 >&':3 (&'E3 5)& #&7 &/&()3:3 3 ), >4%)+ -L-'9+ ,% 6%= /-@+4 ,% A%45-,+; 2+,+ /+7,3 :& (+7'3D9+ ,31# 3(73(1>+@
#S D'65+ V>%4-5'+(-@ I#(& 71#2+ 7&/&7&D#& F# 8&7:3# 8+(&'2131# 7)9(3'( :& &-@K-6 %A 6'6.%A-6 '(.%4(+6Z '(-,%d=-)*+ ,% >4+5%66+6Z &-@K-6 K=A-(-6 % &4-=,%6 & 4-=,%6@ I#(& 71#2+ 8+:& +2+77&7 (3'(+ '+ T,61(+ :3 &,87 &,1##+73 :& ), (0()9+ ,+6191?71+ 5)3'(+ '+ T,61(+ :+# 1'(&7,&:13:+7 '+# ,&723:+#; 8+7 &B&,89+ 3# 2+77&(+73# :& >39+7 3,61&'( :& 6+9#3 & 6392-+@
773
A+##)1 " /'6N%6 ,'&%4%(.%6O X H'6*+ 86.4%'.- R\+..+Aj=>S K-+ /39E3# 87+>&'1&'( :& +8&73-4- -=&%4'4 - 6%(6'L'@',-,% R%9>+6')*+S ,% =A ,%.%4A'(-,+ -.'/+Z += 5-4.%'4-Z %A 4%@-)*+ o6 &@=.=-)N%6 ,+ A%45-,+ ,% 5->'.-'62 K&':+ ,)1(+ )(191P3:+ 8373 #& ,&:17 + '0>&9 :& &B8+#1+6')*+ %A 4%@-)*+ o6 .%(,h(5'-6 ->4%6%(.-,-66 >%@+ A%45-,+@ ->4%6%(.-,!
!
n)3':+ ,&723:+ 387&'(3 8+#1(1>+#; +# 3(1>+# 2+, 6&(3# #)8&71+7+ 17-+ 387&'(37 %3'E+#7)9(3:+# ,31+7 31':3@ n)3':+ + ,&723:+ 387&'(37 /+7( (&':\'213# :& 8&7:3; +# 3(1>+# #+/7&7-+ 8&7:3# ,31+7 &, &, 7&93+#@
… ‡ 7 RY%(+4 %9>+6')*+S
VL6%4/-)*+O I##3 8+#13@
H3#+ + L%.- 6%i- 'C=-@ - UO
•
K1%'1/123 5)& (*+ %9'6.% 4%@-)*+ ->-4%(.% &'(7& +# 7)9(3:+# :+ ,&723:+ 2+, 3 8&7/+7,3'2& :+ 3(1>+ +) :3 237(&173@ 237(&173@
… z U RW*+ >+66=' %9>+6')*+ -+ A%45-,+S
7"#
VL6%4/-)*+O I#(73(N%13 3:+(3:3 8373 %(+7 5)& 5)&7&, 6% -L6.%4 ,-6 /-4'-)N%6 2+9+23':+D#& &, 8+#1+6'.'/- Rˆ † US ‰ 0.'/+6 -(,-A (- A%6A- ,'4%)*+ f=-(,+ + ˆ z 7Z +6 -.'/+6 6*+ >%4&%'.-A%(.% 5+44%@-5'+(-,+6 5+44%@-5'+(-,+6
?+44%@-)*+ (%C-.'/- Rˆ ‡ US ‰ 0.'/+6 -(,-A %A ,'4%)N%6 +>+6.-6 f=-(,+ + ˆ z j7Z +6 -.'/+6 6*+ >%4&%'.-A%(.% ,%65+44%@-5'+(-,+62
7"I
?+44%@-)*+ (=@- Rˆ z US ‰ 0.'/+6 (*+ >+66=%A 4%@-)*+ f=-(,+ + ˆ z UZ +6 -.'/+6 .+.-@A%(.% '(,%>%(,%(.%6 =A ,+ +=.4+2
89%A>@+6O 7S B!"# z UZM !
K& + 0.'/+ 0 6% /-@+4'B-4 %A "x; 3 (&':\'213 N 5)& + 0.'/+ \ 6% /-@+4'B% 7Z;x@
!
K& + 0.'/+ 0 6% ,%6/-@+4'B-4 %A #x; 3 (&':\'213 N 5)& + 0.'/+ \ 6% ,%6/-@+4'B% "ZTx@
7"M
"S B!"# z j UZ; !
K& + 0.'/+ 0 6% /-@+4'B-4 %A "x; 3 (&':\'213 N 5)& + 0.'/+ \ 6% ,%6/-@+4'B% 7Z"x2
!
K& + 0.'/+ 0 6% ,%6/-@+4'B-4 %A #x; 3 (&':\'213 N 5)& + 0.'/+ \ 6% /-@+4'B% 7ZMx2
?+/-4'l(5'- % 5+44%@-)*+ #-+ :)3# ,&:1:3# 5)& #&7>&, 8373 1':1237 + (:/%@ ,% ,'/%46'&'5-)*+ ,-6 5-4.%'4-6; 8+1# ), 8+7(/O91+ 2+,8+#(+ 8+7 3(1>+# :& 631B3 2+77&93&7#+#@ K-+ 1':123:+7 :& &B(7&,3 1,8+7(T'213 8373 #& 3>39137 + 71#2+ '-+D#1#(&,?(12+@
7"3
?*'%&0 C'/*%,0 /' H'%1+b>&' v377} V37|+~1(P :&'>+9>&) ),3 (&+713 5)& 7&>+9)21+'+) 3 ,&(+:+9O%13 :& 39+231:1':+ + 87+2#+ &, Z /3#C L4 0(G@'6% ,+6 .:.=@+6 $>3913+# 3 837(17 :+ #&) >39+7 1'(71'#&2+; ,&'#)73:+ 3 837(17 :+ :+'(+ :+# /9)B+# /)()7+# 3 ),3 (3B3 :& 3(73(1>1:3:& (36&9&21:3@ M4 0(G@'6% ,% 5-4.%'4-6; I##3 &(383 &'>+9>& 87+J&&9 :+# 3(1>+# 3(1>+# 3>3913:+#; :& /+7,3 3 3(1'%17 3 #3(1#/3(1:+7 7321+'39W; 5)& 6)#23 + ,&'+7 71#2+ 8373 ), :3:+ '0>&9 :& 7&(+7'+@
D'65+ .+.-@ ,- 5-4.%'4A373 #& &'2+'(737 5)39 N + 71#2+ (+(39 :& ),3 237(&173 :& 1'>(1,&'(+#; '-+ 63#(3 #36&7 38&'3# 5)31# #-+ 3# 8+':&73+ :&'(7+ :+ 8+7(/O91+ %9+639; (3,6N, (&, 5)& #& 2+'#1:&737 5)& 23:3 3(1>+ 8+##)1 ),3 2+77&93+#4 !
! "
! "
! #
! #
"
#
"$#
! " #$ % ! &'#$ % ! &'(%$ % $ % )*+ , " !)*+)*+ % !
A373 #& &'2+'(737 5)39 N 3 2+>371T'213 &'(7& # M 3(1>+#; 63#(3 )(191P37 )(191 P37 3 #&%)1'(& /O7,)93C "$#
"
#
G t d1#2+ • t A+ :+ 3(1>+
H"U t H+>371T'213 :+# 3(1>+# H t H+77&93+#
IB&,89+C S,3 237(&173 :& 1'>(1,&'(+ 5)& 8+##)1 M 3(1>+# 2+, 3# #&%)1'( 8+#; 7&'(36191:3: & 71#2+#C
G! t h;LM G" t h;hg •" t h;m •# t h;m
K36&':+ :#3# 1'/+7,3+# 387&'(3, ),3 ,%65+44%@-) ,%65+44%@-)*+ *+ >%4&%'.-; 3 237(&173 2E&%3 3+ A%(+4 4'65+ ,% A%45-,+ >+66:/%@@
7##
)"%01&', 7S $=4-.'+( ,% Y-5-=@-Š $ :)73(1+' /+1 1'12139,&'(& 1'(7+:)P1:3 2+,+ ),3 ,&:1:3 :& >4-B+ Ak,'+ >+(,%4-,+ :& 7&2&61,&'(+# :& ), 3(1>+ :& 4%(,- &'9-@
[g4A=@-O
Q :*@+O H+'#1:&7& ), (0()9+ 2+, Z 3'+# :& >&'21,&'(+; >39+7 :& /32& :& dl L@hhh;hh; 83%3,&'(+ :& 2)8+, 3')39 :& gs 3@3@ A373 #1,891/12339+7 87&'(& .gs4 ‚‚I'2+'(73D#& :1>1:1':+ + >39+7 87&'(& :+ /9)B+ :+ 8&70+:+ 8&9+ >39+7 87&'(& (+(39 ‚‚‚I'2+'(73D#& ,)9(189123':+ + UA A+':&73:+ 8&9+ 'i,&7+ :& 8&70+:+#
Q+ &B&,89+ 321,3; 321,3; 3 $=4-.'+( ,% Y-5-=@-Š k ,% "ZIM -(+6@
7#T
A+:&,+# '+(37 5)& 3 $=4-.'+( ,% Y-5-=@-Š k '(&%4'+4 -+ /%(5'A%(.+ :&>1:+ 3+ 83%3,&'(+ 1'(&7,&:1?71+ :& 2)8+'#@
c0()9+ 2+, >&'21,&'(+ :& Z 3'+# R+ASO
•
c0()9+ 2+, >&'21,&'(+ :& Z 3'+# R?+A # 5=>+(6 '(.%4A%,'G4'+6SO
•
p+%+C S, (0()9+ 5)& (*+ >-C=% 5=>+(6 (&7? ),3 $=4-.'+( ,% Y-5-=@-Š 'C=-@ -+ 6%=
•
/%(5'A%(.+
S, (0()9+ 5)& >-C=% 5=>+(6 (&7? ),3 $=4-.'+( ,% Y-5-=@-Š A%(+4 d=% 6%=
•
/%(5'A%(.+
7#E
"S $=4-.'+( Y+,'&'5-,$ :)73(1+' (3,6N, 8+:& #&7 >1#(3 2+,+ ),3 ,&:1:3 :& 6%(6'L'@',-,% ,% =A .:.=@+ ,% 4%(,&'9- 5+A 4%@-)*+ o6 A=,-()-6 (-6 .-9-6 ,% i=4+6 ,- %5+(+A'-@ Q(& 23#+; 23#+; &93 ,+#(73 3 >37133 :& J)7+; 8+1# 3 >3713&1#C
•
$=4-.'+( % >4-B+ ,% /%(5'A%(.+ I#(3 N 3 7&93&'21,&'(+; ,31+7 3 :)73(1+' :& ), 838&9 RD%@-)*+ >4+>+45'+(>4+>+45'+(-@q>+6'.'/-S @q>+6'.'/-S@ F4-B+ u
$=4-.'+( u Vr
F4-B+ v
•
$=4-.'+( v
$=4-.'+( % .-9- ,% 5=>+A n)3'(+ ,31+7 3 (3B3 :& 2)8+,; ,&'+7 3 :)73(1+' :& ), 838&9; 8+1# 5)3'(+ ,31+7 3 8372&93 :& J)7+# 83%3 3'( :+ >&'21,&'(+; ,&'+7 ,&'+7 #&7? 3 ,N:13 :& &'(7&%3 :3# :&,31# 8372&93#@ RD%@-)*+ '(/%46-q(%C-.'/-S@ ?=>+A u
$=4-.'+( v Vr
?=>+A v
$=4-.'+( % .-9- ,% i=4+6
•
$=4-.'+( u
7#I
n)3'(+ ,31+7 3 (3B3 :& J)7+#; ,&'+7 3 :)73(1+'@ n)3'(+ E? ),3 (3B3 :& J)7+# ,)1(+ 39(3; 3 #)3 >37133 RD%@-)*+ '(/%46-q(%C-.'/'(/%46-q(%C-.'/-SS@
_-9- ,% n=4+6 u
$=4-.'+( v
Vr _-9- ,% n=4+6 v
$=4-.'+( u
ES $=4-.'+( % ?+(/%9',-,% A+7 ,31# 5)& :)73(1+' #&J3 ), 1'#(7),&'(+ 63#(3'(& &/&(1>+; + /3(+ :& #&) ,+:&9+ 63#&37D#& '),3 387+B1,34%5'6*+ +# &/&1(+# :3# 39(3# >3713&B1:3:& /3P 2+, 5)& 3 :)73(1+' 3),&'(& &, 7+#(3 F# 5)&:3# :+# J)7+# & :1,1')3 &, 7+#(3# 3+# 3),&'(+# :+# J)7+#@
7#M
!"#$% '( )*+,
\B3E]
7S ?+(5%'.+ d&87&'(3 3 >%4,- AG9'A- ,% =A >+4.&g@'+Z ,%(.4+ ,% 5%(G4'+6 4%C=@-4%6 ,% A%45-,+Z (=A ,%.%4A'(-,+ K+4'B+(.% ,% .%A>+ % '(.%4/-@+ ,% 5+(&'-()-2 Q+ 23#+ :& ), 8+7(/O91+ :& 1'>(1,&'(+#; + U3d #& (+7'3 ,)1(+ i(19 2+,+ ),3 ,&:1:3 :& 71#2+ 8373 +# 1'>(1:+7 3>39137&, 5)31# #-+ #&)# 837T,&(7+# :& 71#2+ 3()31# & 2+'(7+937&, 5)3':+ #&7? '&2#?71+ #& /3P&7 ), 7&6393'2&3,&'(+ :3 #)3 237(&173@
IB&,89+C S, /)':+ 2+, ), 83(71,*'1+ :& Lhh ,19E= .,N:134 )(191P3 + ,+:&9+ :+ U$d 8373 ,&'#)737 5)39 #&713 3 >%4,- AG9'A- :& #)3 237(&173 '), E+71P+'(& :& L ,\#; 2+, 3Ex ,% '(.%4/-@+ ,% 5+(&'-()-@ $8O# + 2?92)9+ :+# :3:+# 2+9&(3:+# :+ /)':+; + 7)9(3:+ :+ ,+:&9+ :+ H0D &+' ,% Tx ,% >%4,- AG9'A- ,- 5-4.%'4- RT A'@KN%6S 2+, ), '0>&9 :& 2&7(&P3 :& bms 8373 ), L ,\#@ ") #&J3; &, 3Ex ,-6 /%B%6; + /)':+ 8+##)17? ),3 8&7/+7,3'2& 5)& '-+ )9(7383##37? 3 8&7:3 :& ` ,19E= 8+7N, E? ),3 2E3'2& :& Ex ,+ &=(,+ 6+&4%4 =A- >%4,- A-'+4 d=% T A'@KN%6 R5%(G4'+6 '44%C=@-4%6 ' 44%C=@-4%6SS@
"S Y%.+,+@+C'-6 ,+ H0D IB1#(&, Z /+7,3# :& #& 2392)937 + U$dC H0D F-4-Ak.4'5+ R0(-@:.'5+SC
•
S(191P3 ),3 ,+:&9+ :& 2?92)9+ #1,891/123:+ 5)& #)8=&, +# 2&'?71+# 3,+#(731# (=A; :&71>3:+ :+ :>1+D83:7-+ :3 '(.%4/-@+ 237(&173 2+, 3 389123&1# .A3:7-+ .A3:7-+ :& 7&(+7'+# E18+(N(12+#4@ E18+(N(12+#4@
H0D Y+(.% ?-4@+O
•
j 63#(3'(& #&,&9E3'(& 3+ ,N(+:+ :& #1,)934%5'6*+ ,+ 5G@5=@+ ,+ H0D ; 8373 3((37 #& #)3# 87&>1#= :& 8&7:3 (-+ :&'(7+ :+# 837T,&(7+# 2392)93:+# 8&9+ U$d@ H3#+ + 5(618$08,#- 4)&4-+% =+# %1 /#*"%1 *#%'1 ") /)*,7>-') &%4,- ,% =A >+4.&g@'+ 6=>%4+= +6 >-4lA%.4+6 ,+ H0D2
+6')N%6 d=% ,%A+(6.4-A 6'.=-)*+ ,% 6.4%66Z >-4-(,+ -6 (%C+5'-)N%6 ,% ,%.%4A'(-,-6 %6.4-.kC'-6 A-'6 -C4%66'/-6 >-4- d=% + 4'65+ ,- 5-4.%'4>+66- 6%4 4%L-@-(5%-,+2
7T7
;S '+4 4%
[email protected],+ >+66:/%@ (=A 5%(G4'+ .+.-@A%(.% -.:>'5+ R5%(G4'+ ,% 6.4%66S2 I##& (18+ :& ,N(+:+ '-+ 8+##)1 3:38(3&9 :& #)6J&(1>1:3:&@ A+7(3'(+; 5G@5=@+6 +L.',+6 >%@+ A+,%@+ ,+ H0D (*+ >+,%A A%,'4 >%4,-6 >4%/'6.-6 %A 5%(G4'+6 ,% 6.4%66Z 8+1# '-+ #&%)&, ),3 91'E3 9 1'E3 #)6J&(1>3 :& #1,)931:3: 871'21831#@ H3#+ ),3 1'#(1()1@+ [)3# 1'#(1()1+66=' A-'6 4'65+ d=% - d=% - 1[ 0 R\ † 0S; 8+1# ), ,&'+7 0':12& :& q3#19N13 7&87&'(3 ),3 5)3'(1:3:& ,&'+7 :& 2381(39 87O871+ :3 1'#(1()1+ #-+ 3(1'%1:+#; + ,&723:+ #)#8&':& 3# '&%+213+ (&,8+73713,&'(&; 3(N 5)& #)3# /9)()3%4-5'+(-'6 % ,% +4,%(6 d=% >+,%A A+/'A%(.-4 +6 4=A+6 ,+ A%45-,+ ,% A-(%'4- 4%>%(.'(-@
F-4- A'('A'B-4 %66- +5+44h(5'-; 3 6+9#3 271+) ), #1#(&,3 :& (i'&1# 8373 7%)37:37 3 1'(&%71:3:& :+ ,&723:+ & :& #&)# 837(12183'(@ +"# ci'&1# :+# :& ,&723:+# Q&%+213+ :& ,'A'(='4 - +5+44h(5'- ,% %44+6 +>%4-5'+(-'6; &>1(3':+ 3 1'#&7-4- +6 >4+5%,'A%(.+6 +>%4-5'+(-'6 +>%4-5'+(-'6 ,+ A%45-,+@ c&, 2+,+ +6J&(1>+ A'('A'B-4 ,- A%@K+4 &+4A- >+66:/%@ +6 4'65+6 3(7&93:+# F# +8&731:+# 8373 23:3 837(12183'(& :&'(7+ :+# 873P+# 32+7:3:+#@ 32+7:3:+#@ $# H9&371'% v+)# (\, 2+,+ /)'&9 8+7 (+:+# +# 7&%1#(7+#; 915)1:33:+# & c0()9+# Ai6912+# I#(3:)31# & V)'121831# '&%+213:+# '+ ,&723:+f
7TI
-4- .+,+6 +6 /%(,%,+4%6 % /%(,%,+4-6 >-4- .+,+6 +6 5+A>4-,+4%62 [&'>+9>&':+ ), #1#(&,3 :& E1&7375)13# :& :1#(716)1(1:+7 1'#(1()1%4-5'+(-@ += '(-,'A>@h(5'- :& 39%),3 :3# 837( :3 '&%+213+ 87+812137 915)1:&P 3+# (0()9+# :& &,1##-+ :3# 2+,83'E13# 36&7(3# '+ ,&723:+@ " ,&723:+ :& 2381(31# #)7%1) 2+,+ ),3 /+7,3 ,31# &/121&'(& & ,&'+# :1#8&':1+#3 :3# &,87# +6(&7&, 32#+ 3 /+'( :& 2381(39 8373 /1'3'2137 +# #&)# '&%O21+# & +/&7&2&7 (3,6N, 3+ 8i6912+ %&739 ),3 %3,3 ,31+7 :& +8+7()'1:3: :& 837(12183+4 d=+.-S W$ 2+,83'E13 +) #+21&:3:& 3'*'1,3 (&7? + 2381(39 :1>1:1:+ &, 3+66=%A Y-(.kA (- (+ ?HY -=.+4'B-)*+ >-4- ,'6.4'L='4 %A'.',+6 4%C'6.4+ - >`L@'5+ A%45-,+ :& >39+7 ,+6191?71+#; :& 6+9#36%=6 +) .:.=@+6 6392-+ +7%3'1P3:+@ X '.-@ [%5K-,+
W*+ >+66=%A 4%C'6.4+ (- ?HY & (*+ %6.*+ -=.+4'B-,-6 - (%C+5'-4 6%=6 .:.=@+6 %A'.',+6 (+ A%45-,+ >`L@'5+ :& >39+7 ,+6191?71+#; 4%6.4'(C'(,+ 6=-6 (%C+5'-)N%6 -+ A%45-,+ >4'/-,+@
j 1,8+7(3'(& #391&'(37 5)& 3,63# 3# /+7,3# :ď(3# 321,3 8+:&, &,1(17 +# ,,+# (0()9+# :& 238(3&7 .93'+# '+ ,&723:+ 871,?71+@ j '(& #&%,&'(+ 5)& 3# &,87# & %7)8+# &2+'*,12+# +6(\, +# 7&2)7#+# '&2#?71+# 8373 /1'3'2137 #&)# 87+J&(+#; 83%37 #)3# :0>1:3# +) /+7,37&, 231B3f )(191P3':+ +# 1'>(1:+7 &, %&739 2+,+ /+'(& 8373 #& /1'3'213,&'(+@ /1 '3'213,&'(+@
7E"
"S V&%4.-6 F`L@'5-6
X 1FV R1('.'-@ F=L@'5 V&&%4S n)3':+ ),3 &,87 7+9>& -L4'4 + 6%= 5->'.-@ >%@- >4'A%'4- /%B; 7&%1#(73':+ #)3# 339+7 ,+6191?71+# '+ ,&723:+ 871,?71+; #&7>1':+ 2+,+ 1'#(1()1(1,&'(+
!
K+21&:3: H+77&(+73# :& (0()9+# & >39+7 ,+6191?71+# .KHcUV4
!
K+21&:3: [1#(716)1:+73# :& (0()9+# & >39+7 ,+6191?71+# .K[cUV4
V>%4-)N%6 r(,%4m4'.'(C R6=L654')*+S
•
K-+ +8&73+6 ,% +>%4-)N%6 =(,%4m4'.'(CC !
r(,%4m4'.'(C +(6-L'@',-,% ,+6 /-@+4%6 %A'.',+6 >%@5+A>-(K'-; #)6#27&>&':+ (+(39,&'(& 3 &,1##-+ 8373 7&>&':\D93 3+ 8i6912+ /)()73,&'(&@ I##3 N 3 +>)*+ 5+A A-'+4 5=6.+ :&'(7& (+:3#; 8373 3 &,87 &,1##+73@
!
r(,%4m4'.'(C \%6. 8&&+4.6 RY%@K+4%6 86&+4)+6S
7ET
$ 1'#(1()1&7 +# ,&9E+7 /+71:3# 8&9+ ,&723:+; >+4kA (*+ 6% 5+A>4+A%.% 6=L654%/%4 + >%45%(.=-@ (*+ -,d='4',+@ I##3 N 3 +>)*+ 5+A A%(+4 5=6.+ :&'(7& (+:3#; 8373 3 &,87 &,1##+73@
!
r(,%4m4'.'(C %45%(.=-@ ,- %A'66*+ %A C-4-(.'- &'4A% ; J? + 7(3'(& :3 &,1##-+ #&%)173 + 87&2&1(+ :& A%@K+4%6 %6&+4)+6; +) #&J3; '-+ E3>&':+ 2+,87+,&(1,&'(+ :& #)6#271->k'6 %A'.',+6 (+ A%45-,+ >4'AG4'+; %373'(1':+ + :&'>+9>1,&'(+ :+ ,&723:+ :& 2381(31#@ Q#& ,&723:+; +# (0()9+# J? (-+ #&':+ (73'#321+'3:+# &'(7& +# 1'>(1:+7 8+7(3'(+ (*+ KG A-'6 5->.-)*+ ,% 4%5=46+6 8373 + 2381(39 :3# &,87# &,1##+73# :# 838N1#@
"S Y%45-,+ D%C=@-4 V&723:+ +':& #-+ '&%+213:+# +# (0()9+# J? &,1(1:+# 8&93# &,87# '+ ,&723:+ 871,?71+; #&':+ '&%+213:+# &'(7& +# 1'>(1:+7 :+ ,&723:+ +7%3'1P3:+; +':& (+:+# (\, 1%)39 32#+ 3+# >39+7 ,+6191?71+#; %+P3':+ :& 2+':1-4-
•
5->.-)*+ ,% 4%5=46+62
V VF0 >+66=' - &'(-@',-,% ,% 5+(5%(.4-4 (+/-A%(.% %66% 5->'.-@ ,'@=:,+ (+
•
A%45-,+ >+4 A%'+ ,% =A 5=6.+ ,% -d='6')*+ RVF0S2
7EI
[&'(7& 3# :1/&7&'( ,+(1>3-)*+ ,'4%.- ,- %A>4%6- %A'66+4- ,-6 -)N%6@
ES $'6.4'L=')*+ F4'AG4'- % $'6.4'L=')*+ 4'AG4'-
•
"2+77& 5)3':+ (+/-6 6+5'-@ ,%A>4%6@ -)N%6 6*+ +&%4.-,-6; 32377&(3':+ '), -=A%(.+ 4%-@ ,+ 5->'.-@ [#3 /+7,3; + -C%(.% 5->.-,+4 k - >4g>4'- %A>4%6-; #&':+ +# 7&2)7#+# 7)9(3'( :#3 :1#(716)1-(K'-@
$'6.4'L=')*+ 6%5=(,G4'-
•
"2+77& 5)3':+ -6 -)N%6 +&%4.-,-6 iG %9'6.%A % >%4.%(5%A - =A += A-'6 -5'+('6.-6Z 5+(.4+@-,+4%6 += (*+; (*+ K-/%(,+ -@.%4-)*+ ,+ 5->'.-@ 6+5'-@ ,- %A>4%6-@ "# 7&2)7#+# /1'3'2&17+# 238(3:+# 8+7 #3 :1#(716)1-4+6 -5'+('6.-6 /%(,%,+4%6; 8+7(3'(+ #&, 3 87&'%66+- &:6'5- += i=4:,'5- 3()3'(& '+ ,&723:+ :& 2381(31# R-L4-(Ch(5'- '@'A'.-,-SZ (*+ K-/%(,+ d=-@d=%4 4%6.4')*+ o (%C+5'-)*+ ,+6 .:.=@+6 +&%4.-,+6@ A373 5)& #& (18+ :& +/&7(3 8+##3 +2+77&7 N '&2#?71+ 5)& E3J3 ),3 -(G@'6% >4k/'- % 4%C'6.4+ &%'.+6 >%@- ?HY@ c3,6N, &,1##-+@ #&':+ '&2#?713 3 &936+73g6'.+ ,% -)N%6S; #&':+ ), ]832+(&^ :& 293## :1/&7&'( :& 3(1>+#; 8+:&':+ 6%4 &+4A-,+ >+4 -)N%6 +4,'(G4'-6Z >4%&%4%(5'-'6 % L^(=6 ,% 6=L654')*+@
"S D%A=(%4-)*+ ,-6 -)N%6 "# 1'>(1:+7 5)& 389123, #&)# 7&2)7#+# '+ ,&723:+ 321+'?71+ 8+:&, +6(&7 7&(+7'+# :& " &+4A-6O A&93 >371339+7 :3# 3-.4'A^('+ @:d=',+ ,% =A- %A>4%6- ,'/',',+ >%@+ (`A%4+ ,% -)N%6 :(3 &,87@
ES [+4A-6 ,-6 -)N%6 c+:3# 3# 33#; & 8+:&, #&7 :1>1:1:3# &, :+1# (18+#C W+A'(-.'/- %654'.=4-@
•
K-+ 35)&93# 5)& (*+ 6*+ 4%>4%6%(.-,-6 >+4 5%4.'&'5-,+6; '-+ 8+##)&, 23)(&93 & /)'21+'3 :& ,+:+ 6%A%@K-(.% - =A- 5+(.- 5+44%(.%; +) #&J3; +# >39+7 #-+ 27&:1(3:+# +) :&61(3:+# :+# 321+'1#(3# #&, 5)& E3J3 ,+>1,&'(3&7633# :3 2+,83'E13 &,1##+73; 1:&'(1/123':+ + '+>+ 321+'1#(3@
;S 8/%(.+6 -C+ >%@- %A>4%6- -(.%4'+4A%(.%@ A+7 9&1 3 +7%3'1P3& :1#(716)17 '+ A:('A+ "Ex ,+ @=54+Z 5)3':+ E+)>&7; 8+7 8+7 ,&1+ :(3 ,+:391:3:&@ " 3'i'21+ & :1#(716)1'.-@ F4g>4'+ Rn