Arquitectura y Derechos Humanos

March 30, 2019 | Author: Anabella del Pilar | Category: Ciência, Philosophical Science, Science (General), Science And Technology, Religion And Belief
Share Embed Donate


Short Description

Titulo: Arquitectura y Derechos Humanos _ Autor: Jorge Lobos...

Description

ARQUITECTURA Copyright© MMXIV K.A.D.K ,Jorge Lobos Contreras y ARACNE editrice S.r.l. www.kadk.dk www.earchitecture.dk www.aracneeditrice.it [email protected]

Impresoen --------2014 por «ERMES.ServiziEditoriali IntegratiS.r.l.» 00040Ariccia (RM)– via QuartoNegroni, 15 En nombre de «Aracne editrice S.r.l.» ofRome

Primera edición English:mayo 2013 Segunda ediciónEspañol------- 2014  Roma y Copenhague

Peder DuelundMortensen,Prof. asociado,cand. Arq.MAA Jørgen Eskemose Andersen,Prof. asociado,cand. Arq.MAA María Gómez-Guillamón,Arq. MAA GiovanniMaciocco, Prof.emérito UNISS,ex-director Dept.Arq. UNISS Jorge Lobos Contreras,Prof. asociadoUNISS,master ETSAB,Arq.FAU Jonna MajgaardKrarup,ex-Director Institute 3KADK Katrine Lotz Director Institute 3KADK

Jorge Lobos,Profesor visitanteKADK,Prof. asociadoUNISS Jørgen Eskemose,Prof.asociado, cand.Arq. MAA KADK Maria Gómez-Guillamón,Prof.asociado. Arq.MAA Dept.7 KADK

COPYRIGHT © 2013Autor & The RoyalDanish Academy ofFine Arts of Copenhagen. www.earchitecture.dk& www.kadk.dk

ISBN 978-88-548-5993-7 Reservados todos los derechos internacionales de traducción, digitalización, reproducción y transmisión de la obra en parte o en su totalidaden cualquier medio,formato y soporte  Nose permiten las fotocopias   sin autorización por escritodel editor

Nopart ofthis bookmay be reproduced

Jorge Lobos

WORKSHOP 5x5 CONCEPTO

via Raffaele Garofalo,133/A–B 00173Roma (06)93781065

any other means,without publisher’s authorization.

AUTOR COMITÉ EDITOR

TEXTO

   n    +    o    &     i  ,    t    5     (    a    v    ;    r    4    e    #     $     -   s    5    n    +    s   &    o    t    4  .    :    r    C     $     $    A     d    0    #    e    n    +    +    n  ,    (    a     i    3    $    F    n    +     $     f    g    9    2    i  ,    o      s    &    #    y   *    e     $     '    D   #    m    1     $    8  ,    4    e    #    e    #     d    r   7    4    7    0    e    5    a   5     (    r    u    /    c    /     /    t    u  .    c    #    A    #    5     $    e   t    c  ,     h     "    t    5     "    e     i  ,    /      s    t  ,    "     i     i     h    n    /    +    4    c    h  .     (    r    a    $    c    *    2    r    A  .    $    D   4     $    &   2    A     l    f     )    &     (     f    a    $    o     '   -    )     $    o    y    )    s    &    o    l    l    o   &    &    o    %    R   o    o    &    &     $    e     h    "     "     h    #     h     /    c    /    c     "    T   6    !    S   6    S

DERE CHOS

H   U M A N  O  S 

HUMANOS JORGE LOBOS

Jorge Lobos

TRADUCCIÓN inglés-español Jorge Lobos

DISEÑO GRÁFICO LayoutVicki Thake

EDITORIAL Aracne editrice,Roma

FONDOS The RoyalDanish AcademyofFine Arts, Schoolof Architecture.KADK Denmark Dipartimentodi Architettura diAlghero, UNISSItaly

ISBN 978-88-548-5993-7

INSTITUCIONES

 0   3 

03

RealAcademia de Bellas Artes de Copenhague,KADK. DK Universidadde Sassari,UNISS. IT UniversidadAutónoma de Aguascalientes,UAC. MX Universidadde Kocaeli,Estambul, MTF.TR Universidadde Chile,FAU. CL UniversidadAustral de Chile,UACH. CL Emergency Architecture & Human Rights

!"#$%&'(&$"! "

#$%$&'() '*+,-()

./ !

0%12(3(

#$%!&$ (

4,%5*67$&7*%, " $+$%3$-&6,)8 29:9 #;=;= =9 F; D;M>C; J,01-? 7(b6( 79CC9;F=;= MB@H;F T )BMA9:HLHFH=;= )B@H;F U #9HA9@A>C; X EHYH9:=;M =9 D;ZB &BMAB R [;Y9F;M \ ,CW>HA9@A>C; 0BF]AH@; ^ *ABS]; _ &H9:@H; R ,CW>HA9@A>C; ` 0CB@9MBM $=>@;@HB:;F9M ^ ,>HA9@AB

,%7a&*2()

#$%!&$ ),)

+,0, #$ +$3,&6*#,#$) +,0, e(%b)'(0 +,0, #$ &,)()

4-*$E() %(2$) #$ 2, ,%5*67$&7*%,8 ,C:;F=B &9@@GH:H? #HC9@ABC #,#*I*-6))

!!

e(%b)'(0 UfU

!" #$%!&$ )+(

$2 )*% 32(D,2

JiCK9: $Mj9@HC FBM Y;FBC9M =9 F; MB@H9=;= ;F =HM9kB R SC9M9CY;@HO: =9F ;HA9@A>C; :>:@; 9M? MBFB? 9MAlAH@;? N>:@HO: B >: ;M>:AB Al@:H@Bm G;R MH9:; H:A9:@HO: MB@H;F? >:; 9fSC9MHO: =9 FB Y;FBC9M =9 @;=; H:=HYH=>Bc $F A9OCH@B BCK;:HV;@HB:;F $=K;C )@G9H: G; =9M;CCBFF;=B >:; A9BC]; MBLC9 F; BCK;:HV;@HO: @>FA>C;F? F; @>;F =9M@CHL9 9MA; 9f;@A; AC;:MN9C9:@H;c )@G9H: G;LF; =9 AC9M :HY9F9Mn 2; 9M9:@H; =9 >:; @>FA>C; W>9 9F FF;S>9MABM8c )B: AB=B FB W>9 :BMBACBM =;CB R W>9 :B ;=MHO:c 0BC 9Z99 FBM S;=C9M =9L9: ;M GHZBMc $F MHK>H9:A9 :HY9F MB: FBM 4Y;FBC9M B SCH:@HSHBM MB@H;F9M8 A;F9M @BC;F? MB: FBM ;CA9N;@ABM? FBM @>;F9M                                   ;M>:AB 9M W>9 >:; @;S; 9M :;=; MH: F; 9fHMA9:@H; =9 F; BAC;c -B AH9:9 :H:Ko: M9:AH=B 9F AC;L;ZB =9 >: ;CW>HA9@AB MH :B 9MAp L;M;=B 9: FBM Y;FBC9M R 4M>S>9MABM8 @B:9M W>9 NBC:; @>FA>C;c &B S>9=9M :; H=9; =9 @O:; 9MAC9@G; C9F;@HO: 9:AC9 M>S>9MABM? Y;FBC9M R ;CW>HA9@A>C;c 2; H=9; =9F $MA;=B =9 DH9:9MA;C 9MAp 9fSC9M;=; 9: AB=B :>9MACB 9:ABC:B N]MH@Bm F; H=9; W>9 AB=B :HkB =9L9CF; A9:9C FHLC9 ;@@9MB ; >: FHLCB? 9MAp 9fSC9M;=; ; AC;YlM =9 F;M :>9 ;:HLCHC :>9YBM FHLCBMc $F $MA;=B =9 DH9:9MA;C :B 9M @BHA9@A>C; G9@G; =9 C;LF9M

6787 9:;;:8< 6=8 #H:;HA9@AB +,,? +D, 2; %9;F ,@;=99? #H:;9F;M =9 ,CW>HA9@A>C;? #HM9kB R &B:M9CY;@HO:

_

                     SCH:@HSHBM MB@H;F9M LpMH@BM R FBM Y;FBC9M :B =9L9C];: 9:@B:AC;C >:; NBCHA9@A>C;c $: F;M MB@H9=;=9M @B: HA9@A>C; 9M >:; FA>C;Fc

`

&/1"E5 -E615 91 6$ $-./!0120/-$                   AH9:9 >: S>:AB =9 Y9C=;=? 9: 9F M9:AH=B =9 49F =9C9@GB ; F; @H>=;=8 =9F @>;F G;LF; 29N9LYC9? 9M 9: 9F NB:=B 9F =9C9@GB ; F; SBMHLHFH=;= =9 A9:9C >:; YH=;? >:B =9 FBM =9C9@GBM G>=;= :B 9M Y9C=;=9C;HCH=B 9: :H:K>:; S;CA9 =9F :=Bc 2; KC;: @CHMHM =9 FBM oFAHK;C9M? F; C9;FHV;@HO: =9 9MA9 =9C9@GBc 2; @CHMHM W>9 9MA;9=9 M9C >:; BSBCA>:H=;=c 2; BSBCA>:H=;= =9 W>9 :;=; SB=Cp M9C @B9c -B W>H9CB =9@HC W>9 M9 M;F=Cp =9 F; @CHMHM M;FH9:=B =9F @;SHA;FHMC;@HCp SBC FBM 9F =9 FBM 4AC9H:A; KFBCHBMBM8 ;W>9F 9: @>;F 9F =9M;CCBFFB HL; ; F; S;C @B: 9F @C9@H:W>9 M9; ; S9M;C =9 F; =9Y;MA;@HO: :; 9@B:B:; > BAC; NBC:; C9@B:MAC>@@HO: =9F $MA;=B =9 DH9:9MA;C BM? 9F @B:M>9M9? A9:=C];HA9@ABM8c '9 S>9MAB @B9 A;HA9@ABM =9L9Cp: @;H;C ;F SB=9C =9 FBM :>9YBM CH@BMc , F; H:A9CY9:@HO: ;CA]MAH@; =9M@B:A9fA>;FHV;=; R =9MC9MSB:M;LHFHV;=;? ;>:W>9 ;W>] M9; 9F >:B SBC @H9:AB rtSBC :W>9 @GBM =9F ``u M9 C9@B:BV@;: 9: 9F SF;:B MH9F Puc ,W>9FFBM FA>C;F:=B F>K;C? ;MSHC;@HB:9M R HCc ,W>9FFBM =9 F; C9MSB:M;LHFH=;= MB@H;F? =9F =9C9@GB ; F; YHYH9:=;? =9F =9C9@GB ; F; @H>=;=? =9F =9C9@GB ; F;                   Z>MAB? CH@B 9: BSBCA>:H=;=9M =9 AC;L;ZBc

$?8:@ 6A;FH; #HC9@ABC #9S;CA;HA9@A>C; #HM9kB R *CL;:HM=HBM =9 );MM;CH? &9C=9k;? 6A;FH;

P.

                                 9Y;F>;@HO:? @;@HO: @H>=;=;:;? ;@AHYHM9 9MA9 FHLCB 9fSFH@; 9: 9F @;S]A>FB MBLC9 $=>@;@HO:c ->9YBM CBF9M S;C; 9F ;CW>HA9@AB =9F MHKFB vv6 @B@ABC =9 S;V? HK>;F=;= R =9=;=c

PP

$-./!0120/-$ G 91-12HE5 H/4$&E5 !&0-E9/22!F&) Pc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o:H@; R SCH9 9fHMA9 ; F; ;CW>HA9@A>C; 9: F; #9@F;C;@HO: *:HY9CM;F =9 FBM                 @B:MH=9C;=; 9: F; ;CW>HA9@A>C; @B: =B@>:=;@HB:;F =9 :>9MAC; F;LBC SCBN9MHB:;Fc 2>9KB =9 U. ;kBM 9: W>9 9F SF;:9A; 9MA>YB @9:AC;=B 9: BAC;M F>@G;M K9BSBF]AH@;M? G; C9;S;C9@H=B 9: A>C;c 0;C; ;FK>:BM >:; :>9Y; >ABS];? S;C; @GBM BACBM >: =9L9C lAH@B @B: :>9MACBM M9A>C;M K9:9C;@HB:9M R @B: 9F =9MAH:B =9F SF;:9A;c 2; ;CW>HA9@A>C; 9: 9MA9 =9L;A9 AH9:9 ;FKB W>9 =9@HCc $F BLZ9AHYB =9 9MA9 FHLCB 9M =;C S;MBM 9: 9M; =HC9@@HO:? C9@BSHF;:=B F; FHA9C;A>C; W>9 M9 G; 9M@CHAB ;F C9MS9@AB? C9YHMHA;:=B ;FK>:BM =9 FBM @GBM SCBR9@ABM =9 ;CW>HA9@A>C; R ;CW>HA9@ABM W>9 G;: R 9MAp: AC;L;Z;:=B 9: 9MA; =H@@HO: ,CW>HA9@A>C; R #9C9@GBM '>9YBM CBF9M =9 F; ,CW>HA9@A>C; 9: @;S]A>FB `?              $F @;S]A>FB P SCB@9MBM @>FA>C;F9M? C9YHM;=B $=HABCH;F &BC; ^ $=>@;wxB r,$s2HMLB; Q.P/c                   Q

PQ

&;S]A>FBM P 0CB@9MBM @>FA>C;F9M? /0CBR9@ABM S;C; KH >;F=;= MB@H;F? T)BMA9:HLHFH=;=MB@H;Fn *: C9;@9C@;C;? MB: :A;K:BF;c

,),+D2$, 3$-$%,2 #$ 2,) -,&6(-$) *-6#,) rP`T_s #9@F;C;@HO: *:HY9CM;F =9 FBM #9C9@GBM G>HA9@A>C; R #9C9@GBM '>: KC>SB =9 ;CW>HA9@ABM? MB@HOFBKBM? ;CAHMA;M 9 H:A9F9@A>;F9M M9 =;CB: ; YHYHC 9: FBM ;kBM \.M R _.M? 9M@;S;:=B =9 F; =H@A;=>C; 9 9: 9MBM K;C ;CW>HA9@AO:H@B R @>FA>C;FLH9CAB SC9YH;HA9@ABMc *: >:HY9CMB =9 9 @;: @B:@9SAB ; BACB? =9M=9 FBM 0CB@9MBM &>FA>C;F9M? ;@>k;=BM 9: )>=;HVpM 9F 9F9@HO: N>9 @>;:=B @B:; KC;: @H>=;= B 9: >: S;]M? H9 @>FA>C; S9CA9:9@9M? @;S;@H=;= G>9YBM MHMA9LMHMAHCc , &>;:=B S;M; F; 9FA>C;F9M MB: S;CA9 =9 FBM #9C9@GBM =9 AB=BM? S9CB :B ;F H:Y9CMBc 2BM #9C9@GBM '>9=9: 9MA;C M>S9=HA;=BM ; =HY9CMBM B S;CAH@>F;C9M SCB@9MBM @>FA>C;F9M =9 @;=; A9CCHABCHBc $MAB oFAH:; C9F;AHYHV;@HO: H:;@9SA;LF9 =9 9MABM Y;FBC9M >:HY9CM;F9M R F9:A; H:Y;FH=9V R @;=>@H=;=c $M =9@HC? FBM #9C9@GBM '>: @B:@9SAB 9 FBM SCB@9MBM @>FA>C;F9Mc 2BM #9C9@GBM '>: KC;: S;C;K>;M @B:@9SA>;F R lAH@B S;C; >:; M9CH9 =9 SC9B@>S;@HB:9M MB@H;F9M W>9 F; ;CW>HA9@A>C; G; A9:H=B =>C;:A9 9F oFAH;:=B 9F NB@B M9 SB:9 9: FBM #9C9@GBM G>;CHB @B: M9C @B: =9C9@GBM PT

R :B MBFB @B: :9@9MH=;=9M? W>9 S>9=9 R =9L9 M9C S;CA9 ;@AHY; =9 F; SCB=>@@HO: =9F SCBR9@AB ;CW>HA9@AO:H@B R >CL;:B? SBC 9F LH9: =9 F; @B9fHMA9:@H; R =9=;=c $F ;CW>HA9@AB 9: 9MA9 MHMA9MB M9 =9L9 =HM@>AHC F;                   =9 FBM @H>=;=;:BM =9F MHKFB vv6c $F @H>=;=;:B S;M; =9 M9C >: ;K9:A9 S;MHYB 9 H:N;:AHFHV;=B SBC F; ;CW>HA9@A>C;? MH: YBV R @B: R SB@; BSH:HO: =9 @B:MH=9C;C? S;C; AC;:MNBC: ;K9:A9 @>FA>C;F? ;@AHYB? SBCA;=BC =9 @B:B@H=;=9M R F>K;C9M 9: W>9 AB=BM YHYHHA9@AB ; >: @H9CAB @B:; @C9;@HO: @;=; Y9V M @;S;@H=;=9M R Y;FBC9M @>FA>C;F9M R? @B: F;M C9MSB:M;LHFH=;=9M W>9 9MAB H9 9M HK>;F? ;F KC;: SCB@9MB @>FA>C;F =9 F; G>:HY9CM;F =9 F; G>FA>C;F9M S;CAH@>F;C9M =9 @;=; F>K;C? :;@HO: B A9CCHABCHBc #HN9C9:@H; W>9 9M :9@9M;CHB G;@9C 9YH=9:A9c $M HC;F9M? 9MA;HA9@A>C; R F; MB@H9=;=? 9M =9LH=B ; W>9 FBM #9C9@GBM '>=; ;FK>:; ;@9C@; =9 FBM Y;FBC9M W>9 =9L9: H:MSHC;C :>9MAC; BCK;:HV;@HO: MB@H;F 9: 9F M9:AH=B MHYB? =99 BNC9@9 F; 9YBF>@HO: =9F @B:B@HC;F9M 9: @;;F :B SC9A9:=B :H =9 ;MB=; SBC M> 9:BCC;? =9Z; MH: 9:;M B@;MHB:9M?:BSB@;M?9FM9K>HC SCB@9MBM@>FA>C;F9MC;=H@;FHV;=BM R N;:;AHV;=BM? :BM S>9=9 FF9Y;C ; =HM@CHC;F9M? 9MS9@H;F=;=;:]; =9F SF;:9A;c $MAB 9M >: =9C9@GB =9 AB=BM R MBFB S>9=9 9:CHW>9@9C :>9MAC; MB@H9=;= 9: 9F M9:AH=B 9MAC; 9fS9CH9:@H; @BMHO:? F; f9:BNBLH;? FBM :;@HB:;FHM@HO: =9 9MA; =9MYH;@HO: MB@H;F? SC9N9CH9 :B =9Z9 HC >:; MB@H9=;= ;M =9 FBM #9C9@GBM '>;FW>H9C A9:A;@HO: :;@HB:;FHMA;? f9:ONBL; B N>:=;9 S>9=;? A;AHFHV;C F; ;CW>HA9@A>C;? @B: ;CMHO: R M9KC9K;@HO:c

)BFB SC9A9:=99 9F =9FH@;=B F]FA>C;F9M H:=HYH=>;F9M 9M :9@9M;CH; R N>:=;:; F]:9; M>AHF? NCpKHF R @;9C=B ; FBM SCBSHBM SCB@9MBM @>FA>C;F9M =9 @;=; A9CCHABCHBc $: 9MA9 9Z9;F9M M9C];: F;M H=9:AH=;=9M @>FA>C;F9M R FBM H:A9C9M9M SBC 9F LH9: @BF9@AHYB M9C];: FBM #9C9@GBM '>9 9: SBM =9 F; M>S>9MA; =9N9:M; =9 Y;FBC9M @>FA>C;F9M? H=9:AHA;CHBM R :;@HB:;F9M?                  9MAp:=;C =9 LH9:9MA;C MB@H;Fc $MABM KC>SBM >AHFHV;: H:@F>MB F; 29:K>; @B: 9F9=;=;:BM R :B @B: 9F9F;C:BM? 9:A9:=9C:BM R @B:H@;C FB 9MAC; :;A>C;F9V; G>M;C 9F F9:K>;Z9 S;C; @C9;C H:@B:H@;@HO: 9: F>K;C =9 @C9;C @B:H=;= =9 H=9;M R                  (ACBM @;MBM A;: 9YH=9:A9M MB: FBM C9K]FAC; :;@HB:;FHMA;M R N>:=;;F9M :B 9M :9@9M;CHB G;@9C f9:ONBL; KH;=BM M>=;:9M9M =9M=9 M> S;]M 9: N>:@HO: =9 M> SCBSH; GBFA>C;F HMC;9FHA;c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c 2; H=9; N>:=;9 :B MB: =9 9M9 A9CCHABCHBc #B:=9 :B G;R A9CCHABCHB ;MB@H;=B ; >:; :;@HO:? AB=BM FBM M9C9M G>9 YHY9: B S;M;: SBC lF? MB: HK>;F9Mc $F A9CCHABCHB 9M 9F F>K;C =9 F; ;CW>HA9@A>C;c $: F; SCp@AH@;? F; C9;FH=;= 9MAC; W>9 FBM KC>SBM =9 SB=9C W>9 L>M@;: ;M9:A;CM9 9: >: A9CCHABCHB =9A9CM;: F;M H=9:AH=;=9M S;C; =HYH=HC R ;@>F;C CHW>9V; R SB=9C? S>9M A;9 K:;: SBC M9S;C;M9 =9 F;M =9: :; 9fSC9MHO: FA>C;F9Mc 2; =HN9C9:@H; 9:AC9 >:B R BACB 9M W>9 9F SCB@9MB                                W>9 =9M;CCBFF;C;F9Mc )9K>C;:BM F>K;C9M R 9: ;FKo: CKHC R 9YBF>@HB:;C =9 ;@>9C=B ; F;M 9:M9k;:V;M =9 :>9MACBM ;:A9S;M;=BM R S;CAH@>F;C GHMABCH;c 0BMHLF9p:=B M>CK9 9F A9R9 SBC >: @;>=;FBMB C]B =9MS>lM =9 >:; L;A;FF; 9: F; W>9 G;L];: MH=B =H9V9 9: >:; =9 F;M BCHFF;M =9 9MA9 C]B G;LHA;L;? ;F =9@HC =9 FBM H:=]K9:;M? >:; ACHL> K>9CC9C; S9FHKCBM]MHH=; =9L]; AC;A;C =9 ;F@;:V;C F; @BMA; BS>9MA; ; FBM H:=]K9:;M? Z>:AB @B: FBM SB@BM MBF=;=BM W>9 F9 W>9=;L;:c / J

),E,7$%?[9C:;:=B rP```s G*,0'()$1,)6" ' ,#'*+,#$#') I -,0,1,=$-,:* 0'()/) -/1+/($  &B:N9C9:@H; 9: $7),+? +;=CH= KLMNO PCQNOC FN RCPC4 C10$( BDSSET K$/7($3,") 8 P"6'*+$(,") N)&$)$UP$1&' V$#(,# KGMNO PCQNOC FN RCPC4 C10$( BDSSST K$/7($3,") 8 P"6'*+$(,") P"1? P(:*,-$) #' C6;(,-$ F$)+,*4 V$#(,# KGMNO PCQNOC FN RCPC4 C10$( BWEJDT K$/7($3,") 8 P"6'*+$(,") O$6"($ N)&$A$

P`

-;>NC;K;: R SBC =9MKC;@H; :B F9M W>9=; ;F9M A9:];: :BAH@H;Mc 2F9K;: ; AH9CC; 9fG;>MABM? =B:=9 FBM 9MA;L;: 9MS9C;:=B FBM N9CB@9M H:=]K9:;Mc E9: ; M>M Y9C=>KBM @;C; ; @;C;c )H: N>9CV;M R ;:A9 F; H:9YHA;LF9 9CA9 W>9 M9 ;SCBfHFB @B: F;M @;L9V;M K;@G;M? BC;:=B R 9MS9C;:=B 9F K9C9:@H; SC9FH;C                   vv? 9MS9@H;F:BM MB: @BH:@H=9:A9M @B: FBM =9 F; ,CW>HA9@A>C; &>FA>C;F? S9CB S9CN9@A;@HO: R :9@9MHA; AH9:HY9CM;FHV;@HO: R 9F @B:B@H9 A;9MAC; H=9:AH=;=? F; o:H@; ; F; @>;F AB=BM S9CA9:9@9HA9@A>C; =9F MHKFB vv? MH: 9HA9@ABM 9 H9 =9 ;FKo: :; 9fSC9MHO: ;CW>HA9@AO:H@; W>9 @B:MH=9C; 9MABM 9F9:KC]; P`Q/s ;CW>HA9@AB R >CL;:HMA;c [;LCHVHB &;CBF;\ r6A;FH; P`/Ps ;CW>HA9@ABc          $=>;C=B [9>9CG;j9 r&GHF9? P`UPs ;CW>HA9@AB? SCB=>@ABC =9 ;CA9 R @B:M>FABC *- ';LHA;Ac [9C:;:=B [9CC9HCB r&GHF9 P`\Ps ;CW>HA9@AB R @B:M>FABC *- ';LHA;A +BV;9c )GHK9C> D;: rJ;SO:s ;CW>HA9@ABc &;CFBM 3B:VpF9V 2BLB r+lZH@Bs ;CW>HA9@ABc $F;=HB #H9MA9 r*C>K>;R P`P\IQ...s H:K9:H9CB @HYHF $M@BF; =; &H=;=9 rDC;VHFs JB -9CB r)>=pNCH@;s );:AH;KB &HC>Z9=; r$MS;k;s $:AC9 HA9@ABM? @B:B@H=BM B ;:O:H9 AC;L;Z;: MHF9:@HBM;HA9@A>C; 9: R =HY9CMBM F>K;C9M =9F SF;:9A;c $MA; G; MH=B >:; SC9B@>S;@HO: @B:MA;:A9 =9 F; ;CW>HA9@A>C; : @>9CSB A9OCH@B R >: KC>SB =9 ;CW>HA9@ABM H=;= SF;:9A;CH;c 2; LHLFHBKC;N]; ;CW>HA9@AO:H@; =9 F;M oFAHA9 @B:MA;:A9HA9@A>C;? @BC; =9 9W>H=;= MB@H;F Y>9FY9 ; W>9=;C ;S;C@;=;? @B: A 9C;CMHYBc %9ABC:;C; R #9C9@GBM '>HA9@A>C; R &>FA>C;c '9C; A9OCH@; W>9 ;F@;:V;;FH=;=? @BLCH9 :>9MAC; 9MS9@H9 G; C9;FHV;=Bc 09CB A;9C99 :>9MACB BLZ9AHYB 9M Y9C @BC;c $-./!0120/-$ 91 6E5 91-12HE5 H/4$&E5 -*$E$ 7$+,) [*-#,+$-7,2$) $F l:N;MHM @B:@9SA>;F 9: FBM #9C9@GBM '>:=;9M :B 9M SBMHLF9 @B:AH:>;C @B9MAC; =HM@HSFH:;? A;: MBFB? =9M=9 9F S>:AB =9 YHMA; ;CA]MAH@B R 9MAlAH@Bc 2; C9F;@HO: 9:AC9 ,CW>HA9@A>C; R #9C9@GBM '>M9:A9 9: F; A9BC]; =9 F; ;CW>HA9@A>C;c )BMA9:9HA9@A>C; ; 9 AB=BM YHYH9CSB =HM@HSFH:;C W>9 :BM ;R>=9? SBC 9Z9;@HO: =9 SCBR9@ABM =9 ;CW>HA9@A>C; =9M=9 >:; S9CMS9@AHY; MB@H;Fc 0BC FB @>;F =9L9:; R BAC; Y9V 9: 9F @B:B@HF;=B =9 F; ;CW>HA9@A>C; W>9 9M 9HA9@A>C; 9fHMAHO @B9=9 @;9 :B SCBYH9:9: =9M=9 F; ;CW>HA9@A>C;? MH :B =9M=9 F;M @H9:@H;M MB@H;F9M R 9 @;=; Y9V SB:9: 9MAHO: FBM SB=9C9M R F; NBC9 G9MHO: 9: F; ;CW>HA9@A>C; =9 FBM SCOfH=HLF9M S;C; F; SCBN9MHO:? @BFAH;F 9:AC9 ,CW>HA9@A>C; R #9C9@GBM '>: 9:B`  R [9C:;:=B );Y;A9C? 9: =HN9C9:A9M HA9@A>C; =9 F; M9K>:=; AHFHV;=B F;CK;:=;MA;YB D>9:B R [9C:;:=B );Y;A9C? W>9 =9M=9 9F @;HA9@A>C; ;F @B:MH=9C;CFBM H=9;M @B:AC;S>9MA;M R AC;MF;=;C 9M; S>K:; ; F; NBCHA9@AO:H@;c $MA; ;@@HO: =HMAC;9 F; ;A9:@HO: =9 >: HA9@A>C; =9 C9SC9M9:A;@HO: @>FA>C;F R W>9 @G;M Y9@9M =9M;SCBY9@G;FA>C;? :BM S9C:; ,CW>HA9@A>C; =9 F; &>FA>C;? W>9 @B;F? &>FA>C; R &HYHFHV;@HO:? @B:; C;c _ `

),- +,%76- ),2,? J;YH9C rP```s !'"(5$ #' 1$ P/1+/($ ? $=c )]:A9MHM )c,c +;=CH=? $MS;k; D*$-(? 3>MA;YB rP``Xs             c 0C9:M; 6LlCH@;? D;C@9FB:; QU

$2 &(-&$07( #$ &*27*%,                                         =9 @>FA>C;c &>9MAHO: W>9 S>9=9 M9C =9 KC;: >AHFH=;= S;C; F; ;CW>HA9@A>C;n

$MAB 9 @GBM ;CW>HA9@ABM C9;FHV;Cp: SCBR9@ABM LHSBF;C9M? =B:=9 9MABM @B:@9SABM 9MA;L;: 9: >:; 9A9C:; F>@G; R =HMS>A;c 7C;=H@HO: Y9CM>M M @>FA>C;? FB@;FHMM >:HY9CM;FHM;F9M W>9 @GBM ;CW>HA9@ABM >M;CB: 9: M>M SCBR9@ABM R >M;: G;MA; 9F =]; =9 GBRc

,I $F SCHFA>C; @BS9CHBC? ;F W>9 AB=BM A9:99CV; W>9 : H=9;F @B: SC9MAHKHB A;: ;FAB @B;F=;=? F; CHW>9V; B F; =9C; G;MA; F;M &;M;M =9 &>FA>C;? H:MAHA>@HB:9M =9MAH:;=;M ; HFM;C R SCBC; =9 AB=; F; G>HA9@A>C; 9: @B:M9@>9:@H;? =9L9 =;C @>9:A; =9 9MA; :>9Y;                 ;CW>HA9@ABM M9 M>9=9 ; M> Y9V? S9C:; :>9Y; ;SCBfHHA9@A>C; FA>C;Fc $M =9@HC? AB=BM A9:9FA>C;M? :B MBFB >:;? MB: ;L;:H@B @>FA>C;F W>9 :BM 9Y9 =9M=9 Y;FBC9M FB@;F9M ; Y;FBC9M >:HY9CM;F9M? FBM @>;F9M >M;HA9@A>C; =9L9C]; G;@9C FB C;F =9 >:; MB@H9=;= R >M;C AB=;M M>M SBMHLHFH=;=9M MH: SC9Z>H@HBM =9C; B =9 F; FF;FA>C; 9: M9:AH=B >:HY9CM;F? 9M =9@HC ;W>9F @B:Z>:AB =9 9F99 G;: M>CKH=B 9: S>9LFBM @B:@C9ABM S9CB W>9 FBM G;: AC;M@9:=H=B R M9 G;: ;M9:A;=B 9: AB=B 9F SF;:9A; @B:; 4@>FA>C; :=H;F8c #9:ACB =9 9MA9 :o@F9B M9 9:@>9:AC; F; H=9; =9 >:; @>FA>C; @BMFA>C; >:HY9CM;F? ;F=9; KFBL;F? B =9 F; FF;:; A9@:BFBK]; >:HY9CM;F? @BFA>C; >:HY9CM;Fq t0BCW>l F; @B:MAHA>@HO: :BM ;M9K>C; W>9 AB=BM A9:9FA>C; 9M >: Y;FBC t$: W>9 M9:AH=B FB 9Mq SBC 9Z9: 9F9FA>C; >:HY9CM;Fq )9Ko: );: +;CA]: );F;? 3>MA;YB D>9:B              P. S9CB 9MAB :B 9M 9 9M@;C;F R M9 AC;:MNBC:B @HYHFHV;ABCHB? FB 9MABM? @BSC;@>FA>C; W>9 C9@BK9 FB FA>C;M S;CAH@>F;C9M =9 @;=;                  H=9;M =9 AC;=H@HO: R 9:A; =9 N9:OFA>C;F9M? oAHF9M S;C; F; ;CW>HA9@A>C;? M9 S>9=9 M9S;C;C 9: AC9M KC>SBM =9 A9fABMn            $F M9K>:=B KC>SB G;LF; =9 F; A9BC]; =9 F; ;CW>HA9@A>C; =9F MHKFB vvc $F A9C@9CB? @BCC9MSB:=9 ; FBM H:A9:ABM =9 ;FK>:BM ;CW>HA9@ABM =9 @B:@9SA>;FHV;C 9MABM SCBLF9C;F9M ; >:; SBMA>C; A9OCH@; 9: F; ;CW>HA9@A>C;c [H:;F9 SC9A9:=9 ;Y;:V;C 9: F; =HM@>MHO: R MBMA9:9C W>9 9N9@AHY;:; ;CW>HA9@A>C; =9 F; @>FA>C;? W>9 C9W>H9C9 =9 >: @>9CSB A9OCH@B S;C; SB=9C 9YBF>@HB:;C @B:=H=B R C9@>CCH=B SBC FBM ;CW>HA9@ABM )>=;;:=B );Y;A9C SF;:A9; W>9 F; @>FA>C; FF9Y;Cp ;=9F;:A9 F; C9YBF>@HO: =9 FBM #9C9@GBM '>9 9M MH:O:H9FA; SBC @B9 9F HA9@A>C;? ;F M9C @;S;V =9 FHK;C 9F @B:@9SAB =9 @>FA>C; ; F; KFBL;FHV;@HO: =9 FBM =9C9@GBM G>9 9MA; 9M F; C9YBF>@HO: W>9 YH9:9c $MA9 9M 9F A99 M9 9MAp HFBM H:A9F9@A>;F9M R =9 9 @F;C;9 =; S;C; 9MA>=H;:A9M 9: F; $M@>9F; 7l@:H@; )>S9CHBC =9 ,CW>HA9@A>C; =9 +;=CH=? $7),+ G*,0'()$1,)6" ' ,#'*+,#$#') I -,0,1,=$-,:* 0'()/) -/1+/($P_ PQ  PT PU PX P\ P_ Q_

),- +,%76- ),2,? J;YH9C rP```s +'"(5$ #' 1$ -/1+/($ ? $=HABCH;F )]:A9MHM )c,c +;=CH=? $MS;k;        ),E,7$%?[9C:;:=B rQ..Ps )BLC9YHYHC? $=HABCH;F ,CH9F )c,c D;C@9FB:;? /} 9=H@HO: D([[? 29B:;C=B rQ..Ps 4$MA;;: D9=BR; +;=CH=   7,6D( &;CFBM? &H9: SC9K>:A;M MBLC9 9F :>9YB=9MBC=9:c $=H@HB:9M )>FA>C; R+B=9C:HV;@HO: 9: ,HA9@A>C; MA;YB 3HFH? 9=H@HO: Q~AHC;=;? D;C@9FB:;

Q`

$: 9MABM =];M? 9fHMA9 >: @H9CAB L;CCBW>HM9 H:A9:A;: ;Y;:V;C 9: 9MA; @H9CA; @B:N>MHO: R ;L;:=B:B =9 FBM KC;:=9M S;ACB:9M =9 F; ;CW>HA9@A>C;? 9: 9MA; ;>M9:@H; =9 H=9;M 9=;? H:; KC;: FHL9CA;= A9OCH@;? W>HVpM @BHA9@A>C;c $MA9 9@F9@AH@HM9 @C9B MH:AB:HV; :=; KFBL;FHV;@HO:                  ,>:W>9 ;o: F; ;CW>HA9@A>C; :B G;R; FBKC;=B =9@;:A;C M>M SCBS>9MA;M A9OCH@;M R MH:AB:HV;C 9f;@A;9 M9 HMB @B9CSB A9OCH@B 9: FBM M9HA9@A>C; F;AH:B;;=B ; >: =9A9CK;C? BLZ9AB B M>Z9AB? F; @;S;@H=;= =9 M9C @BCC9@AB 9: >: =9A9C9 9: AlCFA>C;F9M M9C]; F; @;S;@H=;= =9 ABC;M R >M;CF;M @B S9CAH:9:@H; R M> @BCC9@A; ;=9@>;@HO:c                  ;F C9F9Y;HA9@A>C;c

QQ Q/

/.

[%,+07(-? b9::9AG rP`_/s !"c$(#) $ P(,+,-$1 d'3,"*$1,)6e \,f Z",*+) 7"( $* C(-.,+'-+/(' "7 d'),)+$*-' ? H: !.' C*+,UC')+.'+,-? N))$8) "* Z")+6"#'(* P/1+/('?         [$%-•-#$| &(v &CHMAH;: rP``Ps H$-,$ /*$ V"#'(*,#$# C&("&,$#$ ? 9: FHLCB K/'0$ C(2/,+'-+/($ '* C6;(,-$ @$+,*$  $=c 3c 3HFH? D;C@9FB:; $MS;k; [$%-•-#$| &(v &CHMAH;:? C(2/,+'-+/($ 8 V"#'(*,#$# C&("&,$#$ c $=HABCH;F 7;FF9C ,9 F; ;CW>HA9@A>C; =9L9 @B:MH=9C;C 9MA;M AC9M ;@9S@HB:9M =9 ;SCBSH;@HO: R W>9 ;M] =9L9 K9:9C;C >: SCB@9MB ;:;F]AH@B 9: 9F @HB:9M 9:@B:AC;=;M 9: ;CW>HA9@A>C; ; FBM =HMAH:ABM A9CCHABCHBM 9: FBM W>9 M9 =9M9:Y>9FY9c 2BM )9HA9@A>C; 2;AH:B;C;:A9 F; =l@;=; =9F `. 9: =HY9CMBM S;]M9M? =9M=9 +lfH@B ; &GHF9 R C9>:H9CB: ; FBM HA9@ABM =9F @B:AH:9:A9 9: >:; @B:AH:>; =HM@>MHO: ;@9C@; =9F =9MAH:B =9 F; ;CW>HA9@A>C; =9 :>9MACBM S;]M9Mc $F N9:O9 :BA;LF9? M9 9=HA;CB: =HY9CM;M S>LFH@;@HB:9M @B: F;M BLC;M =9 9MABM ;CW>HA9@ABM? @B: KC;: ;Y;:@9 =9 FBM =BM ;:A9CHBC9M W>9 G9 C; W>9 9fHMA9 MBLC9 F; Z9AB? 2>K;C? 'HMABCH;c $F ;>ABC? SBC M> NBC:=HV; 9: 9F ;:pFHMHM =9F F>K;C @B9M F; GHMABCHBKl:9MHM rGHMABCHBFBK];s R F; M>Z9ABKl:9MHM r;:ACBSBFBK];s R; 9MAp: G9@G;M SBC BAC;M =HM@HSFH:;M =9F @B:B@H:; S>9MA; 9: Y;FBC =9 F;M H=9;M =9F ABSBM? =9Zp:=BF;M ;F HA9fA PP 9=c $7),D D;C@9FB:;? $MS;k;

/P

*: M9K>:=B KC>SB =9 A9fABM G;LF;: =9 F; A9BC]; =9 ;CW>HA9@A>C; =9F MHKFB vvc #9 9FFBM M9 =9MSC9:=9: FBM SCH:@HS;F9M 9MAB B 9: Z>H@HBM Y;FOCH@BM C9MS9@AB ; 9FFBM? AH9:9: >:; @BCA; YH=;? @BCCH=B 9: F; SCp@AH@;c $MAB :B W>H9C9 =9@HC W>9 F; A9BC]; =9 F; ;CW>HA9@A>C; =9L; M9C ;MlSAH@; 9: AlCC; C9SC9M9:A; FBM Y;FBC9M =9F AH9MA9:A; 9: F; 9FHM SCBSHBMSF;:A9;9KB 9F A9C@9C KC>SB =9 A9fABM G;LF; =9 FBM 9M@;MBM H:A9:ABM SBC ;SCBfHFA>C; R F; A9BC]; =9 F; ;CW>HA9@A>C;c ,W>] =9MA;@;: AC9M FHLCBMn $F C9KHB:;FHM= C9;@@HB:;CH; ;F SB=9C @9:AC;Fc E;FHBM;? S>9M MB: FBM SCHHC >:; A9BC]; W>9 :;@9 =9M=9 SCB@9MBM S9CHNlCH@BM ;F SB=9C G9K9CBS; R -BCA9;9MAB W>9 FBM Y;FBC9M lAH@BM :B MB: ;Z9:BM ; F;                   :; SBMA>C; A9OCH@;? 9MB @B:MAHA>R9 M> NBCA;F9V; R M> SCBSH; =9LHFH=;=c ,9 :B AH9:9 FBM Y;FBC9M W>9 9FFBM SF;:A9;:                     =9F ;=Y9CM;CHB? =9F :9K;=Bc

/Q

$2 &(-&$07( #$ 7(0(3g-$)6) $F @B:@9SAB =9 +>:A;kBF; C9N9CH=B ;F F>K;C? ;F ABSBM? 9M @GB 9M M9 @9:AC; 9: >:; Y;FBC H:9F>=HLF9 =9 F; SCBN9MHO:c 7B=BM FBM SCBR9@ABM AH9:9: F>K;C? =9 G9@GB F; SCB=>@@HO: =9F SCBR9@AB ;CW>HA9@AO:H@B MH M9 S>9=9 M>MA9:A;C 9: F;M @B:=H@HB:9M =9F A9CCHABCHBc )H9HA9@A>C; G;@9 C9N9C9:@H; ; >: A9CCHABCHB? S9CB :B :9@9M;CH;= @C]AH@; B ; FB ;SCBSH;=B? @B=HB =9F F>K;C W>9 9fHMA]; G;MA; 9F ] C;=H@; M> NBCA;F9V; 9: 9F 9MA;LF9@9C 9F SCBR9@AB ; S;CAHC =9 >: Y;FBC H:AC]:M9@B =9 F; SCBN9MHO:? 9F ABSBM R A;] 9MAp M> =9LHFH=;=? S>9M =9 9MA; @HC@>:MA;:@H; =9 @;C9:@H; 9: 9F 9MA>=HB =9F F>K;C? ; M;FA;C ; >:; ;CW>HA9@A>C; =9 ABSBKl:9MHM? :; ;CW>HA9@A>C; L;M;=; 9: 9M; ;>M9:@H;? 9: 9F ABSBMc )H M9K>H9 +>:A;kBF; AHA>F; M> FHLCB SB=C];:; ;CW>HA9@A>C; L;M;=; 9f@F>MHY;M>;CHB B M>Z9AB r;CW>HA9@A>C; 9MSB:Ap:9; B S>C;HA9@A>C; L;M;=; 9: F; GHMABCH; rW>9 @BCC9MSB:=9C]; W>HVpM ; ;FKB S;C9@H=B ;F SBMC; =H9 @B;F M9C]; HA9@A>C; =9 F; =H;FBK]; W>9 =9F ABSBMc 09CB ;W>] :BM 9:@B:AC;C];: M9K>:=B SCBLF9C;c $MABM MB: M;CM9 B :B? W>9 ; Y;FBC9M H:AC]:M9@BM? S9CC;8

Q\ Q_

/X

,),+D2$, 3$-$%,2#$ 2,)-,&6(-$) *-6#,)rP`T_s #9@F;C;@HO: *:HY9CM;F =9FBM #9C9@GBM G>FB =9 ,M9:A;9 9F 0BMC; C9MS9@AB ; F; GHMABCH; 9: @>;FW>H9C AH9K;C =9F :=Bc 2; ;CW>HA9@A>C; +B=9C:; A9:]; >:; @F;C]MH:B =9 9FFBMc $MAB F9M S9CHA9@A>C; SC9@9=9:A9? SBA9:@H;:=B ;F 9fAC9HA9@A>C; @B: >:; 9fSC9MHO: NBC: MHKFB W>9 MH9:=HC 9MABM C; &>FA>C;F? 9M F; W>9 Y;FBC; @B:M@H9:A9C;M MB: @>FA>C;F9M? FB N>9 9F +B=9C:HMC;M A9OCH@;M W>9 9fSFH@;C;: 9F SCB@9MB :=H;F =9 :]YB@;? 9M =9@HC M>M SCB@9MBM A9OCH@BM MH99 M9 S>9=9: >M;C R M9 >M;: 9: @>;FW>H9C S;CA9 =9F SF;:9A;c ,>:W>9 S>9=; :B M9C 9MA; F; LoMW>9=; =9 M>M ;>ABC9M? @B:MAHA>];: R @B:MAHA>R9: >:; NBC:B =9 FBM SCBLF99 MH9HA9@A>C;M =9F MHKFB vv? N>9 9F @GBW>9 W>9 9MA;M SBMA>C;M A9OCH@;M A9:];: @B: BAC;M C9;FH=;=9M G>9 :B :9@9M;CH;S;@HB:9M B W>9 9MA;L;: R =HMA;:@H;=;M =9 M>M 9F>@>LC;@HB:9M H:A9F9@A>;F9Mc $: 9MA9 M9:AH=B R 9: AlC;F9M F; ,CW>HA9@A>C; &>FA>C;F? :B M9 S>9=9 @B:MAHA>HC 9: >: @>9CSB A9OCH@B ;>ABCHA;CHB? S>9M 9MA;C]; 9: @B:AC; =9 M> SCBSH; 9M9:@H;c #9L9C]; M9C SBC FB A;:AB 9 :;=; >: : MHMA99 ;R>=9 ; FBM ;CW>HA9@ABM =9 =HMAH:ABM A9CCHABCHBM ; 9:@B:AC;C M>M SCBSH;M C9MS>9MA;M A9OCH@;M R SCp@AH@;M ; FBM S;CAH@>F;C9M SCBLF99 9FFBM 9:NC9:A;:c #9 9MA9 9 G; G9@GB @;=; @>;F R @B9=9 ;SC9:=9C =9 F;M 9fS9CH9:@H;M =9 FBM BACBM? W>9 FBM @B:KC9MBM S;C; C9@HA;C >: =9@pFBKB =9 @OHA9@A>C;c $: @B:M9@>9:@H; =9L9C];C;FH=;= ;LMBF>A; R ;F C9MS9AB SBC F; =HN9C9:@H;c 0>9MA;M ;M] F;M @BM;M W>HVpM =9L9C];HA9@A>C; &>FA>C;F8? =9 4,CW>HA9@A>C;M &>FA>C;F9M8 9: SF>C;F? AB=;M @B: =HN9C9:A9M H:A9C9M9M? SC9B@>S;@HB:9M? A9@:BFBK];M? G;LHA;:A9M R K9BKC;N];Mc

#$ 2, '(+(3$-$6#,# [(%+,2 #$2 )632( vv? , 2, '$7$%(3$-$6#,# #$ 6+•3$-$) #$2 vv6 $F ;MS9@AB NBCHA9@ABM SB=9:; A9BCHV;@HO: W>9 :9@9M;CH;HC 9: >: : =HM@>CMB H=9BFOKH@Bc                   F;M SCBSH;M SBMH@HB:9M A9OCH@;M? S>9M F; NBC@H=; 9: @>;FW>H9C F>K;C? MH: Z>H@HB SC9YHB R MH: W>9 :9@9M;CH;9:@H; =9 >: =HM@>CMB A9OCH@Bc $MAB B@>CCHO F;CK;AB SCB@F;MB? >: MHMA9:; 9MAlAH@; ;MSHC;@HB:;F? W>9 SC9A9:=];? ; AC;YlM =9 F; C9SCB=>@@HO: =9 ] F;M ;CW>HA9@A>C;M =9F MHKFB vv? M9 ;AC;S;CB: ; M] ] M>CKH9CB: @G;M =9 F;M @C]AH@;M W>9 H:A9:A;CB: M>S9C;C 9MABM HA9@A>C; &>FA>C;F 9:@;Z; R M9 ;=GH9C9 ; 9MA;M SC9B@>S;@HB:9Mc #9 9MA; FA>C;F 9M H9C=B ;F F>K;C =B:=9 M9 =9M;CCBFF; R ;F KC>SB G>9 Y; =HCHKH=;c )BFB S>9=9: M9C C9@B:B@H=;M cIS;C;NC;M9;:=B 9F S9:M;:A;kBF;cI SBC F; C9F;@HO: =H;FOKH@; 9:AC9 M>Z9AB? GHMABCH; R ABSBMc 09CB 9MAB 9M H9=9: C9@B:B@9CM9 @B:; MH:; 9fSFH@;@HO: ;@9C@; =9 9FF;M? >: C9F;AB? >: MHMA99 =9M@HNC9 M>M                     =9 Y9C R @B;F? =9 FB C9AH:H;:B? @B@G;;F? ;F C9F;AB cccN1 $9$*#"*" #'1 $(+' ('+,*,$*" &$($ ('+"(*$( $ 1" -"*-'&+/$1 Q`c $M =9@HC =9 FBM ;MS9@ABM ;FW>H9C F>K;C =9F SF;:9A;cI 9: F; ,CW>HA9@A>C; &>FA>C;F B ,CW>HA9@A>C;M &>FA>C;F9M? :B W>9=; :;=; =9 9FFB R M9 9M@;S; ; AB=BM FBM SC9@9SABM =9F S;M;=B MHKFBc $MABM M9 C99HA9@A>C; @B:A9CCHO 9F =B9 SBC F; LBC=;c $MA9 =9M;MAC9 G>ZB >: 9:BCH9: C9@HLHO >:; KC;: @;:AH=;= =9 =H:9CB S;C; F; VB:;c 6:MAHA>@HB:9M @B;Fm S9=HC ; FBM =B:;:A9M? SBC F; SC9:M;? W>9 S;C;C;: =9 =;C =H:9CB S;C; 9MA; @;>M;c ->9CB: =9MAH:;=;M ; C9@B:MAC>@@HO:? MH: 9HA9@ABM :B A9:];;@HO: N>9 9F =9AB:;:A9 S;C; W>9 @G;M BCK;:HV;@HB:9M =9 ;CW>HA9@A>C; M9 9Y;M 9MAC;A9KH;M S;C; S>9MAB 9MA;9 :BM 9:Y>9FY9? AC;9 ;S;C9Z;=; A;:; KC;: BSBCA>:H=;= =9 9fS9CH9 =9M@>LCHC W>9 9MA;M N;9 >:; N ;l G;@9 W>9 9: >:; 9@A; =9 F;M S9CMB:;M S>9=; @;=;=c $MA9 9M >:B =9 FBM KC;:=9M Y;FBC9M =9 F; @H>=;=? W>9 G;LHA>;F9C=BM MB@H;F9M? W>9 :BM G;@9: @B:YHYHC R @BG;LHA;C 9: 150E5 915$50-15 2E&50!0/31& /&$ 1&E-41 E#E-0/&!9$9 #$-$ $20/$- 3 #-1#$-$- 41IE- 6$5 2!/9$915 #$-$ 6$5 &/1"$5 %1&1-$2!E&15 3 5/ Y/0/-E

&a%&*2( #$ $+$%3$-&6,) '*+,-67,%6,) 2;M 9: @]C@>FB =9 SC9=H@AHLHFH=;= W>9 HCC99 9MAp 9: HA9@A>C; AC;:MNBC: @]C@>FB YHCA>BMBc &;=; =9M;MAC9 :;A>C;F AC;9 9: MH Y9V >:; KC;: BSBCA>:H=;= =9 SC9S;C;C 9MAC;M @H>=;=9M S;C; F; SCOfH@9 MOFB 9: F;M SCHF;AH:;9 :BM G;@9 BFYH=;C F; AC;K9=H;S;M;=;c $MABM MB: FBM AH9;C BSBCA>:;H9C9: =H9MA; W>9 HA>CB =9 F;M N;M9M =9 F; AC;K9=H; G;MA; FF9K;C ; F; 9Y; R M9K>C; 9NC9: @B:AH:>;C; 9MAp: AC;L;Z;:=B 9: 9MABM A9:; >:HY9CMH=;= :BCI9>CBS9;? 9:AC9 BAC;M? S9CB @;=; Y9V ;>:=HV;C F; SC9M9:@H; =9 F; ;CW>HA9@A>C; 9: 9MA9 @;;C =9 ;@>9C=B ; >: @B9 9MABM F>K;C9M 9MAp: SC9S;C;=BM S;C; ;FL9C K;C S9CMB:;M MOFB SBC >: @BCAB AH9: S;C =9 :;M =9 9FFBM YHY9: @H9:ABM =9 M9:@H; =9 ;CW>HA9@A>C; SCBN9MHB:;F R M> @B:B@HF;=Bc $MA9 9M >:B =9 FBM KC;:=9M =9M;N]BM =9 F; ;CW>HA9@A>C;? C9S9:M;C 9MABM F>K;C9M =9M=9 9F H:H@HB @B=;=9M B SBMHLF9M @H>=;=9M? S;C; 9:AC9K;C H9:9M G;: @B:MAC>H=B               )>=p: 9M BACB @;MB? =B:=9 FBM @;KH;=BM =9 #;CN>C AH9:9: QU ;kBM? A;CL;:BM? @H>=;=9M =9F =9MH9CAB? =9 F; SC9@;CH9=;= R F; SBLC9V; W>9 YHY9: @;MH 9f@F>MHY;=; G>9F;M =9 ,CW>HA9@A>C; =9L9: H:YBF>@C;CM9 M9CH;9 9MABM SCBR9@ABM FBM ;F9Z;: =9F ;CA9 R F; 9MAlAH@;c -B M9 S>9=9 9YBF>@HB:;C MH M9K>HC; M9 G;@9 S;C; M9C9M G>HIMA;CM R F; =9 FBM ;CW>HA9@ABM =9 (-3M Z 7C;L;Z;C @B: L;ZB @BMAB? MBMA9:HLHFH=;= R A>CBM SCBLF9LF9M 9: F; LoMW>9=; =9 MBF>@HB:9M =9M=9 F; ,CW>HA9@A>C; S;C; F;M @B:H=;=9M W>9 ;F9M :; N>9:A9 H:;KBA;LF9 =9 H:MSHC;@HO: R @B:B@HHA9@AO:H@B R MB: F; L;M9 H:9F>=HLF9 S;C; H:A9CY9:HC 9: @B:H=;=9M W>9 :B @B:B@9;F9M SB=9:; :9@9M;CH; R C9@F;MHB:;C 6:Y9MAHK;@HO: 9: ;CW>HA9@A>C; @B: SCBR9@AB ;CW>HA9@AO:H@B? @>9MAHO: W>9 9: @G;M B@;MHB:9M Y;: SBC @;C; 9M 9M@;M; 9: C9F;@HO: ; BAC;M =HM@HSFH:;M? MH: 9:=;@HO: 9: 9F @;HA9@A>C; S;C; $MHO: A9OCH@; ; :HY9F KFBL;F? S9CB @B: MBF>@HB:9M SCp@AH@;M ; :HY9F FB@;Fc 2BM =9C9@GBM '>H=;= MB@H;F MB: >: A9:HY9CM;F W>9 @B9 AC;M@H9:=9 F;M S;CAH@>F;CH=;=9M =9 @;=; C9KHO:? S9CB @G;M =9 @>R;M MBF>@HB:9M M9 S>9=9: L;M;C 9: FBM FB@;FHMFA>C;F9M? FBM @>;F9M MB: S;CA9 =9 FBM #9C9@GBM =9 AB=BM R MB: N>:=;:HY9CM;F9M? G;MA; FBM Y;FBC9M FB@;F9M R? @B;:MA;:@H; R :9@9MH=;= W>9 A9:K;:HY9CM;F9M? MB: MBFB 9F99MAHO: =9 MBFH=;CH=;= R K9:9CBMH=;= MB@H;F? MH:B A;9 9F =9M9W>HFHLCHB 9fA9C:B ;N9@A;Cp A;C=9 B A99MACB @;=; Y9V : CH9MKB R >:; A9:MHO: W>9 9MAp 9: 9F SCHMHO: SBF]AH@; 9M@;:=H:;Y; R W>9 AH9:9 9:BCC;c #$)63*,2#,# $- $2 ,&&$)( , 2, ,%5*67$&7*%, 0%([$)6(-,2 ->9MAC; SCBN9MHO: :B AH9:9 ;@@9MB ; AB=B 9F SF;:9A;? B =H@GB =9 BAC; HA9@ABM MBFB AC;L;Z;HA9@A>C;SCBN9MHB:;F// t&OHA9@ABM S>9=9: ;M9K>C;C W>9 :B AH9:9: AC;L;ZBq/T

/Q // /T

),E,7$%?[9C:;:=B rP``Us  c 0F;:9A;c D;C@9FB:; ),2,)? J>FHp: rQ...s 0BMA]A>FB =9 ,M9:A;9 H:=H@;: W>9 9MA;9CA9M @;9CA9 HHA9@A>C;c EBFYH9:=B ; FBM A9C; =9F MHKFB vv ;Y;:VO :BA;LF9;F 9M @BC; =9F MHKFB vv FBKCO @C9;C 9Y;M SBMHLHFH=;=9M =9 MBF>@HO: FHK;=;M ; F; 9MAlAH@;? ; AC;YlM =9 9 =9L9 9:NC9:A;C F; ;CW>HA9@A>C;c ->9MAC; SCBN9MHO: 9M >:; =9 F;M KC;:=9M ;>M9:A9M =9 F; 9 =9M;CCBFF; F; SBF]AH@; :=H;F? >: 9Z9: ;CW>HA9@AB G>9=9 M9CYHC 9:BCC;? S>9M M;@; 9F SCBLF9] >: SCBLF9MA;:@H;F S;C; F; ;CW>HA9@A>C;? R =HN]@HF =9 C9MBFY9C ; F; GBC; =9 SCB=>@HC >: SCBR9@ABc 09CB =B:=9 F;M @H9:@H;M MB@H;F9M :BM FF9Y;: @;9=9: M9C =9 KC;: >AHFH=;=c

/_

3$$%7|? &FHNNBC= rP`_\s @$ ,*+'(&('+$-,:* #' 1$) -/1+/($) ? $=HABCH;F 39=HM; +lfH@B

XP

                   AH9:9: MOFB F;M @B::BA;@HB:9M W>9 9M9 KC>SB G>F;C F9M =;? S>=H9:=B M9C S;C9@H=BM ; FBM =9 BACB                   9M @B G>9FF; =HKHA;F? A;F 9M ;M] W>9? :B 9fHMA9: =BM KC>SBM G>C; >:HY9CM;F? =9 F; @>;F FBM #9C9@GBM '>9 M9 G; @B:N9CH=B B ;>AB@B:N9CH=B                                   ;CW>HA9@AB =9L9C]; AC;:MNBCFA>C;F? @;S;V =9 @C9;C MHMA9HC =9 Z9ABM W>9 >M;Cp: 9MBM SCBR9@ABMc $F ;CW>HA9@AB =9L9C]; M>S9C;C F; :; 9MA;9FY9: FBM SCBLF99MAHO: W>9 9: FBM C9M>FA;=BM =9 F; ;CW>HA9@A>C; =9F MHKFB                                 MBF>@HB:9Mc $: S;]M9M @B: C; :B 9M MOFB >: SCBLF9C;F9M =9 FBM @>;F9M 9FFBM MB: SBCA;=BC9M R o:H@BM =9SBMHA;CHBMc 2; @>FA>C; MB: FBM M>Z9ABM 9: :W>9 FBM BLZ9ABM ;CW>HA9@AO:H@BM M9;: C;? ; AC;YlM =9 F;M S>LFH@;@HB:9M? BL9=9@9: K9:9C;F:; @B:@9S@HO: =9 F; SCBN9MHO: @B9 K9:9C;FLFH@;@HB:9M R F; H9 FBM FHLCBM 9:AC9K;: ; F; C9F;@HO: 9:AC9 ;CA9 R ;CW>HA9@A>C;? @B: HA9@A>C;? H:@F>R;: @B:MA;:A9Z9ABM R C9SC9M9:A;@HO: =9 SCB@9MBM G>9CCp =9@HC W>9 F; SCB=>@@HO: ;CW>HA9@AO:H@; G;LCp @;HA9@AO:H@;? S>9M C;@HO: =9F 9f@9MHYB =HM9kB?                    9MS9@H;FM C9M>FA;=BM ; SCBLF9C;M @B:@9SA>;F9M SC9A9:=];: H:;M ; BAC;M 9: F; SBF;CH=;= @;SHA;FHMC; 9M >:; :9@9MH=;= =9F AH99 YHYH9 =9@HC C9MS9@AB ; F; @H>=;= R M>M YHYH9:=;M? W>9 MB: ;LMBF>A;HA9@A>C;c                                $M :9@9M;CHB =9M;CCBFF;C >:; ;CW>HA9@A>C; W>9 ;L;:=B:9 F; FOKH@; ;@A>;F @9:AC;=; 9: 9F BLZ9AB R F; @B:; C9:BY;@HO: =9 FBM ;F9M S;C; CBS;: E6? $=HABCH;F $>CBS;:? &B:H=;= $>CBS9;? [C;:@H;

X`

Q "!"!1&9$ 91 Z$IE 2E50E 3 Y$"16$5 Pc 7B=; S9CMB:; AH9:9 =9C9@GB ; >: :HY9F =9 YH=; ;=9@>;=B W>9 F9 ;M9K>C9? ;M] @B N;= R 9F LH9:9MA;C? R 9: 9MS9@H;F F; ;FH YBF>:A;=c Qc 2; H=;=BM R ;MHMA9:@H; 9MS9@H;F9Mc 7B=BM FBM :HkBM? :;@H=BM =9 FB QU 9M 9F o:H@B ;CA]@>FB =B:=9 M9 :B R M> N;= B ;F M>FB P R Q MBLC9 F; :B =HM@CH@9 9F SCHHA9@A>C;c 6:MSHC;=BM 9: FBM KC;:=9M :HY9CM;F =9 #9C9@GBM '>C; F; YHYH9:=; @BF9@AHY; 9: NBC AH9: ;@AB C9YBF>@HB:;CHB? MH9MB 9F99 G;: C9@HLH=B SBC FBM MHMA9AB =9 F; EHYH9:=; [,* *:HY9CMH=;= =9 &GHF9

\P

$MA9 9M >:B =9 FBM KC;:=9M =9M;N]BM S;C; FBM S;]M9M 9: =9M;CCBFFB? @>9MAHO: W>9 FBM S;]M9M 9M@;:=H:;YBM @B: M> H:@C9]LF9 R =9M;CCBFF;=B $MA;=B =9 DH9:9MA;C MBF>@HB:;CB:c 2; YHYH9:=; 9M >: =9C9@GB R F; 9MS9@>F;@HO: 9: YHYH9:=; 9MAp N>9CA9F;@HO: H::; L>CL>Z; 9@B:O9 ;F 9fSFBA;C G; SCB=>@H=B >: QUu =9 @9M;:A]; 9: F; SBLF;@HO: R : U.u =9 @9M;:A]; 9:AC9 ;CW>HA9@ABM R AC;L;Z;=BC9M =9 F; @B:MAC>@@HO: ;F ;kB Q.PQc 2; YHYH9:=; MB@H;F R =9 L;ZB @BMAB MHK>9 MH9:=B >:; KC;: =9>=; =9 F; SBF]AH@; =9 F;M oFAHMABM =9L99 HA9@ABM =9 =HY9CMBM S;]M9M G;: =9=H@;=B R =9=H@;: M>M 9CVBM ; F; YHYH9:=; =9 L;ZB @BMABc 5>HVpM 9MA9 ;MS9@AB 9M 9F 9Y9 A99 ;N9@A;: F; ;CW>HA9@A>C; =9M=9 F; S9CMS9@AHY; =9 FBM #9C9@GBM '>pF 9M 9F =9M;N]B GBRq $F ;>;F F;M Al@:H@;M ;@A>;F9M =9 @B:MAC>@@HO: :B ;F@;:V;: ; @>LCHC F; :9@9MH=;= =9 YHYH9:=;c $F QU u =9 F; SBLF;@HO: =9F :=B W>9 YHYHCp 9: N;Y9F;M B ;M9:A;=;=c                  $fS9CH9YBM =HM9kBM FHK;=BM ; FBM SCB@9MBM @>FA>C;F9M? =B:=9 C9@>S9C9HC M>M SCBSH;M YHYH9:=;Mc $F @;9 @B:MAC>H=; =>C;:A9 9F MHKFB vvc ,FK>:BM S;]M9M 9>CBS9BM SBC 9Z9: U.u =9 N;:; MBF; S9CMB:;c $M 9F @;MB =9 )>9@H; R R @9C@; =9 9FFB #H:;C; ;o: :B AH9:9 C9MS>9MA;M @F;C;M B ;F 9YBM =9M;N]BM? :B @B:MH=9C;=BM 9: 9F vv? @B9 FBM :>9YBM AH9HC @B $6/"!E&15> !&/&9$2!E&15> 102UV #$-$9EI$641&01 1501 4E41&0E 15 /&E 91 6E5 #E2E5 1& ./1 6E%-$& "!5!Z!6!9$9 1& 6$ 1521&$ #^Z6!2$ 3 $01&2!F& 91 6$5 $/0E-!9$915

-B BLMA;:A9 9MA9 9M 9F 9=9 M9C >:; M;FH=; B C9MS>9MA; S;C; FBM MF>9 :BM =; =9C9@GB ; FBM ;CW>HA9@ABM ; 9fHKHC H:A9CY9:HC 9: 9MA;M VB:;Mc ,F @B:MH=9C;C 9F A9C; R #9C9@GBM '>MHO: M9 ;LC9 R 9:CHW>9@9: F;M MBF>@HB:9M SBMHLF9Mc -BM S9CCL;:;c 2BM @;MBM =9 K>9ABM =9 H:=;=;:; ;=W>HCH9CB: SC9M9:@H; 9: F; ;K9:=; SBF]AH@;c $F @;MB =9F L;CCHB =9 +;f;W>9:9 9: +;S>AB? pC9; =9 @C9@H:AB ; F; @H>=;= NBC: 9Z99 M9 9:@>9:AC;: =;=;:BM 9: @G;M S;CA9M =9F :=Bc $MA9 L;CCHB M9 =9L;A9 9:AC9 H:@BCSBC;CM9 ; F; 9fSFBA;@HO: SCHY;=; =9F M>9FB 9fS>FM;:=B ; M>M G;LHA;:A9M B @B:MBFH=;C F; 9MAC>@A>C; >CL;:; 9fHMA9:A9 S;C; F; SBLF;@HO: W>9 YHY9 ;G] SBC K9:9C;@HB:9M R W>9 :B MB: =>9kBM =9F M>9FB >CL;:Bc                                      AB@;@HO: =9 9MABM SCBLF9;FW>H9C F>K;C =9F :=B? 9: NBCFBM 9:AC9 M]? 9 >:; =9A9C@GB =9F N>A>CB lfHAB =9 9MA; ;MB@H;@HO: @B:@9SA>;F R SCp@AH@;? M9 Z>9K; 9: @B:HY9CMH=;=9M =9F :=B C9@B:MH=9C9: M>M SBMH@HB:9M C9MS9@AB ; 9MABM A9HA9@ABM MB: @;S;@9M =9 ;CAH@>F;C F; C9F;@HO: 9:AC9 lAH@; R 9MAlAH@;c $MA9 @;S]A>FB :BY9:B M9 @B:MAHA>RO =9 NBCC;F? 9: >:; @B:@F>MHO: =9 AB=B 9F SCB@9MB ;:A9CHBC? SBC F; :9@9MH=;= =9 ;CAH@>F;C >: :>9YB =HM@>CMB S;C; FBM :>9YBM 9MA>=H;:A9M =9 ;CW>HA9@A>C;c ,M] YHMABM? SB=99 F; 9YBF>@HO: =9 F; 9:M9k;:V; =9 F; ;CW>HA9@A>C; Y; H:=HMBF>LF9HA9@A>C;c $:AB:@9M R =9LH=B ; W>9 9F S9:M;HA9@AO:H@B SCp@AH@;@HC MBF>@HB:9M H:NBCCKHC;F9M? 9F ;@9C@;:W>9? 9M @F;CB A;9 ;o: F; ;CW>HA9@A>C; :B G; FBKC;=B =9@;:A;C M>M SCBS>9MA;M A9OCH@;M R MH:AB:HV;C 9f;@A;HA9@A>C; &>FA>C;F R =9 FBM #9C9@GBM '>: @>9MAHB:;:; ;CW>HA9@A>C; : SCB@9MB =9 C9SC9M9:A;@HO: MB@H;F W>9 ; F; C9S9AH@HO: =9 @O=HKBM NBCHA9@A>C; =9L9 9MA;C : SCB@9MB YHA;F W>9 YHM>;F? ; >: SCB@9MB W>9 H:@F>R; FB lAH@B 9 FB S>C;;:=B G;LF; =9 MHMA9@G;HC F; HMHO: =9F M>Z9AB @BABC? ;CW>HA9@AB? =9Z9 =9 @B:ACBF;C AB=B 9F SCB@9MBc $MAB SCB=>@9 @GB A9= 9:M9k;=; 9: F;M 9M@>9F;M =9 ;CW>HA9@A>C;? @G;M Y9@9M BL9=9@9 9 ; >:; LoMW>9=; =9 @B:ACHL>HC 9: F; MBF>@HO: =9 FBM SCBLF9=;=;:BMc $MA9 A99 Y9C A;ABH9MA; :9@9MH=;= =9 G;@9C >: BLZ9AB =9 ;CA9 @B: F; ;CW>HA9@A>C;c (LYH;M@;C >:; S9CN9@@HO: H:9fHMA9:A9c )9 M>SB:9 W>9 ;F ;LCHC 9F MHMA9HA9@AB Y>9FY9 9:=lAH:; SCHY;=; R G9CHA9@A>C; &>FA>C;F 9M SBMHLF9 @B:MH=9C;C F; H9:@H; MH W>9C9FA>C; =9 >: KC>SB =9A9CH9:A9 SCBLF99 9:NC9:A;M ;@ABC9Mc ,W>] >: SCBLF9MA;:@H;F S;C; F; ;CW>HA9@A>C;? R =HN]@HF =9 C9MBFY9C ; F; GBC; =9 SCB=>@HC >: SCBR9@AB? S9CB =B:=9 F;M @H9:@H;M MB@H;F9M :BM FF9Y;: @;9=9: M9C =9 KC;: >AHFH=;=c                                                        @>FA>C; =9 @;=; KC>SB G>9FF; =HKHA;F? A;F 9M ;M] W>9? :B 9fHMA9: =BM KC>SBM G>:; :9@9MH=;= =9F AH99 YHYH=;= R M>M YHYH9:=;M? W>9 MB: ;LMBF>A;HA9@A>C;c                                U\ EY `X

3$$%7|? &FHNNBC= rP`_\s @$ ,*+'(&('+$-,:* #' 1$) -/1+/($)  $=c 39=HM; +lfH@B \CRC!Nd4X'(*$*#" BW```T G*,0'()$1,)6"' ,#'*+,#$#')? P,0,1,=$-,:*0'()/) -/1+/($ P"*7'('*-,$ '* N!\CV4V$#(,#

+,) %(2$) ,2 ([6&6( #$ ,%5*67$&7( 7B=BM 9MABM @;HA9@A>C; H;F9M? W>9 @B9fHMA;: @B: FBM W>9 AC;=H@HB:;FHA9@A>C; R W>9 @B:MAHA>R9: :>9MACB L;K;Z9 GHMAOCH@Bc &C9;C :>9YBM CBF9M S;C; FBM ;CW>HA9@ABM 9M ;F CK9:A9? 9: >: SF;:9A; =B:=9 =BM A9C@HBM =9 F; SBLF;@HO: :B AH9:9: ;@@9MB ; :H:Ko: SCB=>@AB NBCHA9@A>C;c $F @;C;? 9M 9MS9@H;F: ;@AHYHMA; @>FA>C;F? @B: ;CAHMA;c $fHMA9 >:; H:A9C9M;:A9 =HN9C9:@H;@HO: =9 AHSBM =9 ;CW>HA9@ABM W>9 @B9fHMA9: 9: F; ;@A>;FH=;= 9: 9F FHLCB ,C@GHA9@AM eHAGB>A [CB:AH9CMU`          %9NBC@;=BC9Mcc 2; ,CW>HA9@A>C; &>FA>C;F 9MA;C]; HA9@AB @BHA9@A>C; 9: ;FK>:BM S;]M9M 9MAp A]HA9@A>C; SCBN9MHB:;F R 9: F;M S9CMB:;M W>9 YHYH9:=B 9: VB:;M =B:=9 MH 9fHMA9 F; ;CW>HA9@A>C; SCBN9MHB:;F? @F;9Y;M ;MB@H;@HB:9M 9:AC9 @H>=;=;:BM R SB=9Cc $: BAC;M S;F;LC;M? 9MAp: ;S;C9@H9:=B ;CW>HA9@A>C;M W>9 L>M@;: 9:@H;M =9F SCBR9@AB ;CW>HA9@AO:H@Bc $Z9 D;: X. 9: J;SO: @B: M>M SCBR9@ABM S;C; 9H9: 9: >:; HHA9@AB @B9=9: M9C R oAHF9M FBM 9 G9RM X/? JBG: &;K9XT 9: @G;HC F; H;:=B 9fHMA9 >:; 99 F; @H>=;= AH9:9 H: 9 ;@A>;Cc $: F; 9 FBM ;CW>HA9@ABM @B:MAC>R;=;=9M S;C; 9:; HA9@A>C;? S9CB W>9 C9MSB:=9: ;F H=9;CHB MB@H;F =9 FBM X.M R \.M? lSB@; 9: F; @>;F M9 G; =9M;CCBFF;=B HA9@A>C;c $F ;CW>HA9@AB AH9:9 >:; YBV YpFH=; 9: F; =HM@>MHO: @H>=;=;:; W>9 =9L9 M9C 9Z9C@H=; R =9 ;@A>;@HO: 9: BCK;:HV;@HB:9M MB@H;F9M R 9: SCBR9@ABM =B:=9 M9 L>MW>9: :>9Y;M 9fSC9MHB:9M S;C; F; S;CAH@HS;@HO: @H>=;=;:;? 9M YHA;F ; F; GBC; =9 G;@9C >:; =;=c $Z9HA9@AB Go:K;CB "B:; [CH9=Z9=;? @B: M>M SCBR9@ABM =9 >ABS]; MB@H;F R =9 @>9MAHB:;=9M =9 F; 9:M9k;:V; =9 F; ;CW>HA9@A>C; 9M F; C; @B: MBFB =BM @B:=H@HB:9Mn ) 2BM ;F>=;= R ;F A9CCHABCHB ; L>M@;C SCBLF9MW>9 M> SCBSHB A9Bc &;=; S9CMB:; S>9=9 AC;L;Z;C 9: FB W>9 9 @C9; A9:9C =H;:A9M? SBC M> Z>Y9:A>=? MB: >: ;FFA>C;F? 9MSB:Ap:9B R @B:A9C; :>:@; M9Cp BLZ9AB =9 @;9=9: M9C >AHFHV;=;M SBC @>;FW>H9C;? @B: FpSHV? >: S;S9F B >:; C;? MH:B N>:=;LC9 Q.P. / &BS9:G;K>9 #H:;FB Z?:LD@? ;LCHF Q.PP U +;S>AB 4Ad:;KDe=7? LC9 Q.PP \ );C=9K:; !g:@D:? M9SAH9HA9@AO:H@; SCBN9MHB:;F 9MAp K9:9C;FM9:A9                H:A9C:;@HB:;F9Mc 2;M 9fS9CH9:@H;M ;@;=lHA9@A>C; AH9:9 @GB W>9 =9@HC? S>9=9 SCBSB:9C :>9Y;M 9MAC;A9KH;M? =H;=B S>9=9 M9C >M;=B ; N>A>CB @B:; 9MAC;A9KH; ; M9K>HC? B ; 9YHA;C? FB W>9 9: ;A>C;M H:A9CY9:@HB:9Mc $MAB G;@9 :9@9M;CH; F; @C9;@HO: R =HN>MHO: =9 9MABM SCBR9@ABM S;C; @BHA9@A>C; SCB=>@9 9: 9MA; pC9;c )9 =9L9C]; @C9;C >: L;:@B =9 SCBR9@ABM H:A9C:;@HB:;F W>9 C9o:; R 9MA>=H9 FBM lfHABM R NC;@;MBM =9 F;M MBF>@HB:9M SCBS>9MA;Mc

7$(%a, #$ 2, ,%5*67$&7*%, P %9S9:M;C F; C9F;@HO: 9:AC9 ,CW>HA9@A>C; R #9C9@GBM '>;F R lAH@; 9: ;CW>HA9@A>C;c #B:=9 M9 =9L9 @C9;C >: :>9YB L;F;:@9 9:AC9 ;CA9 R MB@HBFBK];? lAH@; R 9MAlAH@;? 9@B:BCBS;: E6c $=c $>CBS;: $* )>HV; D$-gE(2(? 29B:;C=B rQ..Qs 'HMABCH; =9 F; ;CW>HA9@A>C; MA;YB 3HFH? Q} 9=H@HO: D;C@9FB:; $MS;k; D(#$-+,--? %HAA9C &F;C; rP`\Qs JBM9SGM D9>RMc &;=; GB: ;CAHMA;c $=c ,:AB:HB +;@G;=B? &B:Y9CM;@HB:9M 9: #B@>9 9M F; 3FBL;FHV;@HO:q $=c ,K>HF;C +;=CH= $MS;k; [$%-•-#$| &(v? &CHMAH;: rP``Ps ';@H; >:; +B=9C:H=;= ,SCBSH;=;? 9: FHLCB ->9Y; ,CW>HA9@A>C; 9: ,:; HF>MHO:c (LC;M &B9Y;? +;=CH= $MS;k; 3$$%7|? &FHNNBC= rP`_\s 2; H:A9CSC9A;@HO: =9 F;M @>FA>C;Mc $=c 39=HM;? /_\SS? +lfH@B b,-7? 6H@HB? 7C;=>@@HO: SBC +;:>9F 3c +BC9:A9 $=c 2HLC9C]; 39:9C;F EH@ABCH;:B )>pC9V +;=CH= $MS;k;                   GHMABCH;c $MA>=HB SC9FH9V ,C;9V ,C;AB =9 )B@HBFBK];? $=c 0*& =9 &GHF9 rP`_\s %99=HA;=B SBC $:@>9:ACB $=H@HB:9M?+;=CH= +*-7,3-(2,? 7GBC:L9CK JBM9SG rQ...s 7BSBKl:9MHM? [>:=;:; :>9Y; ;CW>HA9@A>C;? &BFF9@@HO: ,CW>HA9fA PPc $=c *0& D;C@9FB:;? $MS;k; +*-7,h(2,? 7GBC:L9CK JBM9SG rQ..Xs +H:=? 2;:= ;:= 79CCHABCRc $=c $fIFHLCHM? D;C@9FB:;? $MS;k; 0,%6)? &;CFBM rP``Ts $F ;:HFA>C;Fc DHBFBK]; R @>FA>C; 9: F; C9;FH=;= G>FA>C;c $=c 7CBAA;? +;=CH= $MS;k;             

P.T

),- +,%76- ),2,? J;YH9C rP```s 79BC]; =9 F; @>FA>C;? $=c )]:A9MHM )c,c +;=CH= $MS;k; ),- +,%76- ),2,? J;YH9C rP``_s [9:BFA>C; 9: (CA9K;c $:M;RBM =9 H:A9CSC9A;@HO:c $=c 79@:BM? +;=CH= $MS;k;          ),E,7$%? [9C:;:=B rP```s 4*:HY9CM;FHMM @>FA>C;8 &B:N9C9:@H; 9: $7),+ QQy.QyP``` ),E,7$%? [9C:;:=B rQ..Ps )BLC9YHYHCc $=c ,CH9F )c,c /} 9=H@HO: D;C@9FB:; $MS;k;                                7,6D(? &;CFBM rQ..Qs &H9: 0C9K>:A;M )BLC9 9F ->9YB #9MBC=9: $=c )>CBS;: E6? $=c $>CBS;: $* [C;:@9              e6)-$% D9:? D2,6b6$ 0H9CM? &,--(- 79CCR ;:= #,E6) 6;: rQ..Us ,A %HMj $=c %B>AF9=K9 Q:= 9=HAHB: 2B:=B: *b e'67$? 29MFH9 ,c rP`XTs 2; @H9:@H; =9 F; @>FA>C;c $=c 0;H=OM? D>9:BM ,HC9M ,CK9:AH:;

'(+$0,3$)     D([[? 29B:;C=B rQ..Ps 4$MA;FHB J>;: D9=BR;                    2(D()? JBCK9 rQ..Ts ,CW>HA9@A>C; &>FA>C;Fc $: %9YHMA; =9 *CL;:HMCL;:HM@GHF9c@Fy&#,y>CL‚@B9 9:A9:=;9 F; '>C;8 $MA; NC;M9 :BM =];M SBC >:; =9 F;M C9=9M MB@H;F9M? >:; NC;M9 W>9 SBC FB BLYHB 9M @H9CA;? R : 9: 9F @B:A9fAB =9 FBM „FAHC; 9KB@l:ACH@; =9 F; ;CW>HA9@A>C; S;C9@9 R ; SCBSdMHAB R? =9 ;FK>:; C;? R S9M9 ; W>9 F; G>C;? M9 SB=C]; C9NC;M9;C R =9@HCn F; ;CW>HA9@A>C; =9L9 M9C R H:; :AƒC;9 G;@9 B W>9 S>9=9 G;@9C F; ;CW>HA9@A>C; SBC F; G>HA9@A>C; 9: >: ƒ9 AC;=H@HB:;FMHYB =9 BCK;:HV;@HB:9M =9 ;R>=; G>HA9@A>C; G; 9MA;=B 9: >: M9K>:=B SF;:B B? 9: @GBM @;MBM? ABA;FM9:A9c $: K9:9C;F 9M 9 F; ;CW>HA9@A>C; =9L9 H:A9C9M;CM9 N>:=;:MA;:@H;M =9 F; YH=; HVƒM ;@HB:9M 9fAC9HVpM H:9YHA;LF9? R SBC 9FFB 9M FOKH@B W>9C9C SC9K>:A;CM9 @B9=9 F; ;CW>HA9@A>C; =;C C9MS>9MA; ; F;M MHA>;@HB:9M =9 99 F; G>;HC 9: F;M 9M@>9F;M? @BCCH@>F>< =9 FBM ;CW>HA9@ABMc $MA9 @>CMB M9 @B:A9fA>;FHV; 9: >: :; C9;FH=;= SCBN9MHB:;F? R 9M SC9@HM;9Y; C9;FH=;= =9M=9 F; ;CW>HA9@A>C; R 9: 9F ƒCMB AH9:9 M> S>:AB =9 S;CAH=; R M> SCH:@HS;F BLZ9AHYBc

4:?D: %o;7dm%=D@@:;p8> $MS;k; ,CW>HA9@AB $7),)I)9YHFF; $MS;k; &;:=c ,C@Gc #SAc \ %9;F ,@;=99? b,#b #H:;
View more...

Comments

Copyright ©2017 KUPDF Inc.
SUPPORT KUPDF