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MK42L19ML:A4U0$2NK2KJU$J94L3$R6C${3O:6:$:$2N1K2:63G$M3M:0$9$4:O
&&w
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2AK:O$2A01V04:COG$MK5R3$K43$V63$596CLS$:$40$43R0A363$J\2L536S;
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4:O($_4R:$A40@3N4K$AUN36:63>$~=40$413A:L2C$5KAK1:LS$KJK$A20B
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4:\$MK36:Z:TG$43N13A6044UO$N1KL:A$1KR:L06S2MK5K$MK4L1K6C($†KG
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R0LSB:G$A$D:4342KAKBG$D:@:W02MKB$:$_BKZ:K436S4KB$N6340$@3;
A:2:BUB:$KL$2AK:O$1KR:L060TG$:$NK269Y:6K$KN10R06C\]:B$D3M;
LK1KB$R344K5K$AB0V3L06S2LA3($=U$40$2L36:$JU$N1:J053LS$M$NKRKJ;
4UB$B0LKR3BG$026:$JU$10WS$V63$K$R0LCO$JK600$134405K$AK@132L3G
R6C$MKLK1UO$NKA:4KA3LS2C$1KR:L06CB$02L02LA044K(
*94L312M:0$R0T2LA:C${3O:6:$A205R3$2KN1KAKYR36:2S$K]9]04:;
0B$K51KB4KT$A:4UG$:$NK_LKB9$K43$40$29B063$4:$A$KR4KB$2AK0B
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NKM3@G$N1KR9BUA3C$05KG$N1K]3C$05K$:$@313400$N634:19C$2$NKBK;
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A3LS$A$B0400$KN324KT$DK1B0G$40$434K2C]0T$91K4$00$@RK1KAS\$:
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KJ]:LSG$WLK$BU$K$4:O$40$@3JU6:G$4K$43V6:$20342U$2$202L13B:
KM3@36:2S$432LK6SMK$NK60@4UB:$R6C${3O:6:G$WLK$BU$OKL06:$JU
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4:L06S4K$KLM3@UA3C$20J0$AK$A20B$:$NK2LKC44K$_MK4KBC($_4R:$A@C63
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K$MKLK1UO$K43$134SV0$40$BK563$:$NKBU26:LSG$43N1:B01G$RK1K5:0
R9O:G$A06:MK60N4K0$4:Y400$J06S0G$V06MKAU0$MK2L\BUG$R135KZ04;
4K2L:G$RK1K59\$MK2B0L:M9$:$L($R($XR43MK$C$N10RK2L010563${3O:6S
&&&
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JK6SVKT$A02($ˆ5K$N10R06KB$C$92L34KA:63$A02$_4R:G$MKLK13C$A0;
2:63$ 43$ W0LU10$ M:6K513BB3$ JK6SV0G$ :G$ L3M:B$ KJ13@KBG$ 2$ A:R9
2R01Y:A3C$00G$C$43$23BKB$R060$NKK]1:63${3O:6S$M$LKB9G$WLKJU$K43
NKN13A6C632S($80B$R36SV0$K4:$N1KRK6Y36:$KJ29YR3LS$13@6:W4U0
2NK2KJU$NKL3M34:C$2AK:B$Y0634:CBG$L0B$JK600$2M34R36S4UB:$2L3;
4KA:6:2S$KLR06S4U0$N10R6KY04:CG$:$A$_LKT$D1:AK6S4K2L:$:$A020;
6S0$C$JU63$2$4:B:$@3KR4K(
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:$9M3@363$B40$43$LKG$WLK$N10R6KY044UT$B4K\$L:N$J94L312LA3$JU6
26:VMKB$9Y$13RK2L4UB($$2K5632:632SG$WLK$NKM3$0]0$26:VMKB
134K$N10M13]3LS$AUNK6404:0$N10RN:234:C$JULS$402W32L4KTG$:$C
A0149632S$2K$260R9\]:B$2KKJ]04:0B(
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!'BB%>$"3G$4K$C$BK59$:O$NK4CLS($X4:$W9A2LA9\LG$WLK$B04C$9Y0
43W:430L$@34K2:LSG$:$C$5KAK1\$6:VS$K$LKBG$WLK$BK56K$JU$2R063LS
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10L04:0$ RK1K5:O$ R9OKAG$ J06SCG$ 20M2936S43C$ Y:@4SG$ NK2MK6SM9G
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R:L06:$LKY0$9@436:$JUG$WLK$AU$2W32L6:AU(
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OKR:LS$@R02S$M3MKT;LK$2BU26}
xy,4%>$-KLKB9$WLKG$026:$LU$J9R0VS$2W32L6:A3G$B3BKWM3$9W:4:L
L0J0$LK$Y0G$WLK$92L1K:63$B40($X43$2R0630L$L3MG$WLK$L0J0$LKV4K
2L340L($X43$92L1K:L$AKM195$_LK5K$0]0$JK6SV0$V9B3G$W0B$92L13:;
A30L$20TW32$AKM195$L0JC($ˆ26:$LU$402W32L6:A3$43$2AK0T$13JKL0G$LU
BKY0VS$9AK6:LS2CG$:$KL$_LK5K$402W32L6:AU$2L349L$K4:($-KM3$LU
N1KRK6Y30VS$13JKL3LSG$A0R:$2N:2KM$A205KG$43$WLK$LU$BKY0VS$NK;
Y36KA3LS2CG$L3M$WLK$R3Y0$026:$9$L0JC$J9R9L$M3M:0;LK$2W32L6:AU0
BKB04LUG$40$5KAK1:$K$4:O$4:W05K($-1:OKR:$RKBKT$:$1322M3@UA3T
:B$ KJK$ A20O$ 53RK2LCOG$ MKLK1U0$ N1:M6\W:6:2S$ 2$ LKJKT$ 205KR4CG
NK64K2LS\$:2NK1L:$:B$A0W01G$:$KL$_LK5K$LU$23B3$2L340VS$402W32;
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7$MK4Z0$203423$202L1U$N1KCA:6:$N01AU0$N1:@43M:$LK5KG$M3M$K4:
A:RCL$B04C$NK$KL4KV04:\$M$519NN0($…KLC$C$NK2LKC44K$LA01R:63
&&H
{3O:6:G$WLK$K43$RK6Y43$K2L3A3LS2C$402W32L4KTG$K4:$AK2N1:4C6:
B04C$A$M3W02LA0$2LK1K44:ZU${3O:6:($X4:$AK2N1:4C6:$ALK1KT$91K;
A04S$N313RKM236S4K5K$2KKJ]04:C(
xy,4%>$!$A32$02LS$R0L:G$40$N13AR3$6:G$-055:}
!'BB%>$"3($!$B04C$02LS$2U4$&,$60L$:$RKWS$H&$5KR3(
xy,4%>$QLK$:@;@3$2AK0T$RKW01:$AU$40N10B044K$OKL:L0G$WLKJU
{3O:6S$JU63$2W32L6:A3}$7U$M3M;LK$:O$2AC@UA30L0}$‚19NN3$NK2LKC4;
4K$A3B$AU5KA31:A30L$@3$:@6:V4\\$BC5MK201R0W4K2LS(
!'BB%>$$40$@43\($$R9B3\$KJ$_LKB($=40$KW04S$LCY06K$L10JK;
A3LS$KL${3O:6:$JULS$402W32L4KT($Iw#.-T-*)5+&+{-R%$%EP$7U$KJ$_LKB
@430L0}$Iƒ+C./(*B%7-G+."&"+%+&-)-G)5+''EP$=40$LCY06K$L10JKA3LSG
WLKJU$AU$JU6:$402W32L4KT$<$4K$C$@43\G$WLK$K4:$N13AU($#K5R3$C
R9B3\$KJ$_LKB$2$KJ[0ML:A4UO$NK@:Z:TG$C$@43\>$_LK$LKG$WLK$AU
RK6Y4U$R063LS(
xy,4%>$$NK6353\G$A$_LKB$:$2K2LK:L$N10:B9]02LAKG$MKLK1K0$R30L
519NN3($X43$@32L3A6C0L$A32$JULS$KJ[0ML:A4KT(
!'BB%>$QLK$A014K(
&-+0/,$p55%$nG'-om$32+[+**1'$-'.+#//
F3+%4GH4!$&3+'1).+()"4%#"&%)*+()8
143$<1"4#+B#9.+
60R9\]:T$20342$JU6$23BUB$10V3\]:B$AK$A20B$M9120$N2:OK;
L013N::$ :$ KLB0W36$ NKAK1KL4UT$ N94ML$ 92LKTW:AK5K$ :@B0404:C(
-10YR0$W0B${3O:6S$2BK563$JU$2L3LS$NK;432LKC]0B9$40@3A:2:BKT
Y04]:4KTG$K43$RK6Y43$JU63$KJ102L:$2NK2KJ4K2LS$2M3@3LS$~40L
L013N::$:$3J291R4KT$@3R3W0$K2L3A3LS2C$402W32L4KTG$MKLK19\$BU
N010R$40T$NK2L3A:6:($X43$2K$A20T$RKJ1K2KA02L4K2LS\$2L313632S$0T
260RKA3LSG$4K$NK2L0N044K$2L34KA:632S$A20$JK600$:$JK600$40RKAK6S;
4KT$2AK0T$Y:@4S\$2$1KR:L06CB:$:$L0BG$WLK$K2L3A3632S$402W32L4KT(
7K$A10BC$_LK5K$203423$C$N1KRA:4963$N10RN:234:0$RK$LKT$LKWM:G
MK5R3${3O:6S$2M3@363$~40L$L013N::(
!'BB%>$ Iw#.-T-*)5+ &+ {-R%$%EP$ ?9$ WLK$ YG$ {3O:6SG$ A3B$ 9R30L2C
K2L3A3LS2C$402W32L4KTG$KLM3@UA3LS2C$KLK$A205KG$WLK$BKY0L$RK2L3;
A:LS$9RKAK6S2LA:0}$"K2L3LKW4K$6:$OK1KVK$A3B$_LK$9R30L2C}
&&+
{-R%$5>$$2L313\2S$KLM3@UA3LS2C$KLK$A205KG$WLK$BKY0L$RK2L3A:LS
9RKAK6S2LA:0(
!'BB%>$…K1KVK($"K2L3LKW4K$6:$OK1KVK$AU$2$_L:B$2N13A6C0L02S}
{-R%$5>$$2L313\2S$KLA0W3LS$~40L$43$A20$N10R6KY04:C$B3L01:G
:$B40$4043A:2L4K$Y:LS$L3B($Iw,-+C$-H'(EP
!'BB%>$ †3M$ :$ N10RNK63536K2SG$ WLK$ A3B$ J9R0L$ 4043A:2L4K$ L3B
Y:LS($#K40W4K$Y0G$A3B$4043A:2L4K$L3B$Y:LS(
{-R%$5>$$W9A2LA9\$20JC$432LK6SMK$40$A$2AK0T$L3106M0G$WLK$9Y0
JK6SV0$N1K2LK$40$BK59(
!'BB%>$7U$J9R0L0$K2L3A3LS2C$402W32L4KT$A20$A10BCG$NKM3$Y:A0;
L0$RKB3(
{-R%$5>$†3M$NKW0B9$Y0$C$RK6Y43$L3B$JULS}$$40$OKW9$L3B$JULS(
$BK59$24:B3LS$_L9$MA31L:19G$:$C$R9B3\G$WLK$C$L3M$:$NK2L9N6\G
026:$_LK$J9R0L$AK@BKY4K(
xy,4%>$X4:$5KAK1CL$L0J0G$WLK$49Y4K$J9R0L$MK0;WLK$2R063LSG$3$026:
LU$N634:190VS$24CLS$MA31L:19$A$3N1060G$LK$@43W:LG$LU$N1K2LK$KNCLS
40$OKW0VS$4:W05K$269V3LS($^$LKW4K$L3M$Y0G$M3M$B3L01:$N1:R0L2C
NKJULS$402W32L4KT$40MKLK1K0$A10BCG$NKM3$A20$40$4363R:L2CG$AK@;
BKY4KG$L0J0$LKY0$N1:R0L2C$NKJULS$402W32L4KT$40MKLK1K0$A10BC(
{-R%$5>$-KW0B9$C$40$BK59$KLL9R3$AUJ13LS2C}$$OKW9$AUJ13LS2C(
xy,4%>$†U$40$BKY0VSG$:$A20$L9L($-KLKB9$WLK$_LK$J9R0L$26:V;
MKB$40OK1KVK(
{3O:6S$N1:W:L30LG$2L0430L$:G$43MK40ZG$56CR:L$43$B04C$NK64U;
B:$BK6SJUG$JK6SV:B:$A63Y4UB:$563@3B:G$2N13V:A3C>$~?9$NKW0;
B9$C$40$BK59$24CLS$MA31L:19$A205K;LK$43$V02LS$B02CZ0A}
!'BB%>$80B$LCY060T$R6C$A32$20TW32G$L0B$69WV0(
{-R%$5>$$_LK5K$40$NK4:B3\G$:$C$40$BK59$L3M$R36SV0$Y:LS(
-05B:>$-1CBK$20TW32$AU$_LK5K$40$NKTB0L0(
02L1U$NKRR01Y36:$B04CG${3O:6S$2NK1:63$:G$43MK40ZG$2K1A3;
632S$43$M1:M>$~$JK6SV0$40$BK59$_LK5K$AU4K2:LSG$NKW0B9$C$RK6Y43
@32L3A6CLS$20JC$JULS$L3B}
!'BB%>$I€H-)($%7/Q+,/+(7'.4/Q+&-&+4/&(/.Q+C./C%)27-GT%S+$'6
&-.)(7/EP$80B$A20$O9Y0$20TW32G$L0B$NKLKB$J9R0L$69WV0($^$W0B$AU
402W32L40TG$L0B$_LK$69WV0($r$NKBK536:$6:$A3B$NK2LKC44K$A$_LKB
202L1U}
{-R%$5>$7$LKBG$WLKJU$JULS$402W32L4KT}$?0L(
&&Œ
xy,4%>$r$N10RNK63536K2SG$WLK$BU$J9R0B$NKBK53LS$<$026:G$R0;
63C$WLK;LKG$K43$:2NULUA363$W9A2LAK$A:4UG$LK$RK6Y43$JU63$43B
NK@AK4:LS(
N$'.>$=40$K43$2KA20B$40$@AK4:63(
-05B:>$#3M$NK69W:6K2SG$WLK$AU$2KA20B$40$@AK4:6:$2AK:B$202L;
13B}
{-R%$5>$^4K5R3$9$B04C$N1K2LK$40L$432L1K04:CG$NK2MK6SM9$C$W9A;
2LA9\$20JC$13@J:LKTG$:$B40$A20$_LK$40$413A:L2C($$W9A2LA9\G$WLK
NK13$KZ04:LS$2:L93Z:\$:$10V:LSG$M3M$A20$969WV:LSG$3$AB02LK$_LK5K
B40$5KAK1CLG$WLK$49Y4K$A20$2R063LS$O9Y0G$:$R6C$B04C$_LK$2L34K;
A:L2C$40AU4K2:BK($$JK6SV0$40$BK59$:RL:$N1KL:A$2AK:O$92L10B;
604:T(
!'BB%>$7$L0M9]:T$BKB04LG${3O:6SG$A3B$40KJOKR:BK$A20$9O9R;
V3LS(
{-R%$5>$ ?0LG$ -055:G$ C$ 40$ BK59($ $ OKW9$ 9TL:$ :@$ RKB3G$ 43TL:
13JKL9$NK69WV0$:$OKW9$2L3LS$2W32L6:AKT($$40$BK59$@32L3A6CLS$20JC
K2L3A3LS2C$43$N6KOKT$13JKL0$:$40$BK59$2L34KA:LS2C$0]0$402W32L40T(
xy,4%>$?0KJOKR:BK$6:$0T$K2L3A3LS2C$43$N10Y40T$13JKL0G$WLKJU
2L34KA:LS2C$402W32L40T}
!'BB%>$ˆT$260R90L$2L34KA:LS2C$402W32L40T$6\JUB:$AK@BKY4U;
B:$2NK2KJ3B:(
xy,4%>$-KW0B9}
!'BB%>$-KLKB9$WLK$LK6SMK$L3M:B$KJ13@KB$K43$KJ10L0L$AK@BKY4K2LS
43TL:$20JC(
N$'.>$X43$432LK6SMK$9R19W30L$BK:O$1KR:L060TG$WLK$K4:$KJ3$2LK;
C6:$:$96UJ36:2S$B40G$M3M$B340M04UG$432LK6SMK$K4:$JU6:$13RU
B04C$A:R0LS($X4:$4:MK5R3$134SV0$_LK5K$40$R0636:($-K$213A404:\
2${3O:6S\$C$AU56CR063$2KA01V044K$@3B0W3L06S4K(
!'BB%>$†0N01S$AU$BKY0L0$KZ04:LSG$WLK$K43$R6C$A32$R0630L}
N$'.>$"3($$W9A2LAKA363G$WLK$40$@3269Y:A3\$_LK5K(
!'BB%>$X43$R0630L$A3B$NKR31KM(
N$'.>$-K6353\G$WLK$_LK$L3MG$NK_LKB9$B40$40$260R90L$201R:LS;
2C($$W9A2LA9\$20JC$A:4KA3LKTG$MK5R3$201Y92S$43${3O:6S($QLK$BKC
B3604SM3C$202L104M3(
!'BB%>$?0L($!2L1K:L$A20G$WLK$AU$BKY0L0$2R063LSG$WLKJU$NKBKWS
{3O:6:$JULS$402W32L4KT(
N$'.>${3O:6S$9Y0$20TW32$A2C$A$_LKB(
!'BB%>$?K$K43$RK6Y43$JULS$A2C$A$2AK0B$402W32LS0($X43$RK6Y43
JULS$Z06:MKB$:$NK64K2LS\$@34CL3$:B(
{-R%$5>$I!$-H-EP$$40$BK59$:B0LS$R06K$2$6\RSB:$43$L3MKT$K24K;
A0($QLK$NK64K2LS\$KL10@30L$B04C$KL$A205K$B:13($QLK$2KA01V044K
&&'
2B0OKLAK14K0$L10JKA34:0($#3M$AU$B40$N1:M3Y0L0$KJ]3LS2C$2$R19;
@SCB:G$MK5R3$C$402W32L43}$#3MK5K$W01L3$MKB9;LK$@3OKW0L2C$2K$B4K\
JULS}
!'BB%>$I€H-)($%7/EP$$@43\G$WLK$_LK$LCY06K(
{-R%$5>$"3$_LK$N1K2LK$29B32V02LA:0$M3MK0;LK‰$?0$LCY06K$<$3$2
9B3$2KTL:$BKY4K‰$QLK$@43W:LG$WLK$AU$L10J90L0$KL$B04C$@3N010LS2C
9$1KR:L060T$A$NKRA360$:$NK2LKC44K$JULS$KR4KTG$NKLKB9$WLK$4:MLK
40$@3OKW0L$JULS$2K$B4KT$:$C$23B3$40$OKW9$JULS$2$2KJKTG$MK5R3$C
L3M3C($!$B04C$40L$4:M3MK5K$NKAKR3$WLK;6:JK$R063LS$<$4:M3MKT
Z06:G$R6C$LK5K$WLKJU$OKL0LS$Y:LS($QLK$R0630L$BK0$29]02LAKA34:0
0]0$JK600$4:WLKY4UB(
F3+%4KH4I+#+@).+()"4*)'9
3"#+%".3)<"*1$=$43#"0=$'7()1+
!'BB%>$-K@AK6SL0$B40$KR49$B:49L9$NK5KAK1:LS$2$BK0T$519NNKT(
=KY0L$ JULSG$ K4:$ NK@AK6CL$ A3B$ 2R063LS$ WLK;4:J9RSG$ 2NK2KJ4K0
N1:402L:$40MKLK1K0$KJ605W04:0($XR43MKG$NKOKY0G$WLK$AU$NKN3;
R30L0$A$J0R9$M3YRUT$13@G$MK5R3$C$2BC5W3\2S(((
‚19NN3$10V:63$40$2BC5W3LS2CG$3$@34CLS$NK@:Z:\G$M3M$026:$JU
K43$N1:V63$A$9Y32$KL$LK5KG$WLK${3O:6S$43W:430L$KLM1ULK$@3CA6CLS
K$J94L0(
!'BB%>$ ‚19NN3$ 5KAK1:LG$ NKOKY0G$ J9RLK$ AU$ 5KAK1:L0$ ~40L$ 40
LK6SMK$2AK0T$B3L01:G$4K$9Y0$5KLKA:L02S$2M3@3LS$~40L$:$B40G$:$K4:
N1K2LK$NKL1C204U$_L:B($‚KAK1:L0$6:$AU$B40$~40L}
{-R%$5>$Ix,-H-$-$&/$'#$'()*Q+,/+1-('0+.'1&/+#./)-'(EP$"3G$5K;
AK1\($ ID',*'(+ )7/'+ .'3',%'EP$ ?0LG$ 40$ A3BG$ 519NN0($ Iw,-+ 'T'+ ,'
,-#.-$-)5+4/)(-(/H,/+)0'$/)(%Q+H(/#2+C/S(%+,-+/(&.2("G+&/,M6
./,(-I%G+)/+0,/SQ+,/+"J'+H"7)(7"'(Q+H(/+7C/$,'+0/J'(+7)(-(5+7
/CC/1%I%G+B."CC'Q+C/)&/$5&"+1,-'(Q+H(/+"+0',*+%,/B4-+7/1,%&-$%+)
,'S+/C.'4'$',,2'+.-)R/J4',%*EP$720G$C$2UL3$NK$5K16K($$40$@43\G
WLK$R063LS($=K:$W06KA0W02M:0$:42L:4MLU$NKR2M3@UA3\L$B40$2R0;
63LS$WLK;LKG$KL$W05K$A20$2L340L$2W32L6:A00G$3$AU$A20$5KAK1:L0G$WLKJU
C$JU63$402W32L4KTG$3$C$40$@43\G$M3M$BKY4K$2L1K:LS$KL4KV04:C$2
6\RSB:$43$_LKT$K24KA0(
!'BB%>$I!.%(7/.**)5+%1"0$',,/SEP$?K$A0RS$AU$9Y0$RK2L3LKW4K
RK65K$2L1K:L0$2$4:B:$KL4KV04:C$:B044K$L3M:B$KJ13@KB($?0$BK5;
&&%
6:$JU$AU$N1K2LK$KNCLS$A0149LS2C$M$_LKB9}$^6:$K2L3A3LS2C$L3B$NK;
N10Y40B9}
{-R%$5>$?0LG$C$40$BK59($$40$BK59$N1K2LK$2:R0LS$:$Y36KA3LS2C(
!'BB%>$?K$AU$Y0$:$134SV0$_LK$R0636:G$NK_LKB9;LK$B40$:$L19R4K
NK4CLSG$WLK$Y0$@R02S$NKCA:6K2S$L3MK5K$40AU4K2:BK5K$:B044K$20T;
W32G$NK2MK6SM9$AU$9Y0$R0636:$_LK$RK2L3LKW4K$RK65K($8LK$Y0$20T;
W32$:@B04:6K2S}
{-R%$5>$-KLKB9$WLK$20TW32$C$2BKL1\$43$_LK$R195:B:$563@3B:($
A:Y9G$WLK$B:1$40$:4L010290L2C$B4K\$:$BK:B:$N1KJ60B3B:G$3$_LK;
5K$40$RK6Y4K$JULS(
$KL69W:632SG$WLKJU$NK5KAK1:LS$2$519NNKTG$NK6353CG$WLK$R6C
B04CG$AK@BKY4KG$9Y0$432L9N:6K$A10BC$@34CLS$NK@:Z:\G$J635KN1:;
CL2LA9\]9\$:@B0404:\($*U6K$10V04KG$WLK$N10YR0$A205K$C$AUC2;
4\G$WLK$2L363$JU$R063LS${3O:6SG$026:$JU$0T$JU6K$NK@AK604K$:@B0;
4:LS2C(
{-R%$5>$$40$@43\($„43\$LK6SMKG$WLK$43$N1KLCY04::$NK260R4:O
402MK6SM:O$40R06S$C$:@K$A20O$2:6$2L313632S$R063LS$LKG$WLK$AU$B40
A0606:G$9NK14K$13JKL363$43R$_L:B$B0YR9$203423B:$:G$-055:G$R6C
B04C$_LK$40AU4K2:BK‰$"6C$B04C$40AU4K2:BK$Y:LS$AB02L0$2$1KR:;
L06CB:($$1051022:19\(
!'BB%>$IF))$'4"*+7/C./)+%10',',%*EP$8LK$N1K:@KV6K$JUG$026:$JU
AU$2M3@36:$~40L$:B$:$B40}$8LK$JU$AU$2L36:$R063LS}
{-R%$5>$$2L363$JU$R063LS$LKG$WLK$R063\L$A20$A$B:10$<$9V63$JU
:@$RKB3G$2L363$JU$A@1K26KTG$43V63$JU$13JKL9G$43V63$JU$20J0$2KJ;
2LA044K0$Y:6:]0G$43V63$JU$2AKT$2KJ2LA044UT$M195$R19@0T(
!'BB%>$Ix(-.-*)5+1-)(-7%(5+''+C/4(7'.4%(5+)7/%+)$/7-EP$?K$:B04;
4K$_LK5K$BU$:$JK:B2CG${3O:6S($7U$Y0$@430L0G$WLK$N1K:2OKR:6K
M3YRUT$13@G$MK5R3$AU$NUL36:2S$_LK$2R063LS(${0@96SL3LU$R6C$A32$JU;
6:$2KA01V044K$M3L32L1KD:W02M:B:($7U$W9A2LAKA36:G$WLK$40$BKY0;
L0$_LK5K$2R063LSG$WLK$NKL01N06:$409R3W9G$A205R3$WLK;LK$AUOKR:6K$40
L3MG$AU$W9A2LAKA36:$20JC$KR:4KMKTG$KL10@344KT$KL$B:13G$W9A2LAK;
A36:G$WLK$2OKR:L0$2$9B3G$A32$13@R13Y36$A2CM:T$V9B$<$_LK$JU6K
2KA01V0440TV00$J0R2LA:0G$:$BU$NUL36:2S$A32$KL$405K$2N32L:(
‚19NN3$AU@A363$B04CG$:$BU$10V:6:G$WLK$432L36K$23BK0$A10BC
N1:4CLS$2LK1K49${3O:6SG$A2L3A$A$KNNK@:Z:\$519NN0G$:$432L3:A3LS
43$:@B0404::($-K69W:A$2AKJKR9$:RL:$AN010RG${3O:6S$@3MK60J3632S(
‡0M312LAKG$MKLK1K0$C$N10RN:2UA363G$402BKL1C$43$2AKT$40N1:CL4UT
&&,
AM92G$269Y:6K$R6C$400$9L0V04:0BG$R3A36K$0T$K]9]04:0$9A01044K;
2L:($02L1U$L3MY0$40B4K5K$KN3236:2SG$KM3Y0L2C$6:${3O:6S$2NK2KJ;
4KT$A@CLS$43$20JC$KLA0L2LA044K2LS$@3$2AK0$2KJ2LA044K0$2W32LS0(
F3+%4NH4?%%$B)>)84=#0%%"
$AKV63$A$MKB43L9$:$NKN1K2:63${3O:6S$NKRR01Y3LS$BK\$KNNK;
@:Z:\$519NN0(
!'BB%>${3O:6SG$OKL:L0$6:$AU$NKBKWS$B40$2M3@3LS$~40L$519NN0}
!$B04C$2$4:B:$LK6SMK$WLK$2K2LKC632S$201S0@43C$2OA3LM3($$40$2BK563
2RA:49LS$:O$4:$43$TKL9($"3A3TL0$BU$2$A3B:$2M3Y0B$~40L$519NN0(
{-R%$5>$Ix/+)$'1-0%+7+B/$/)'EP$#K5R3$AU$9V6:$L9R3G$C$JKC632SG
WLK$926UV9$2AKT$N1:5KAK1$43$_L9$40R06\(
!'BB%>$7U$5KLKAU$2M3@3LS$:B$~40L$AB02L0$2K$B4K\}
{-R%$5>$r$WLK$K4:$5KAK1CL}
!'BB%>$X4:$40N10M6K44U($$40$BK59$:O$2RA:49LS$4:$43$TKL9($X4:
M3L05K1:W02M:$ @3CA6C\LG$ WLK$ A3B$ 260R90L$ K2L3A3LS2C$ RKB3($ 73B
260R90L$JULS$402W32L4KTG$260R90L$K2L3A3LS2C$Y36MKTG$KL10@344KT
KL$B:13G$Y36KA3LS2CG$40$:2M3LS$13JKL9G$40$49Y4K$4:2MK6SMK$969W;
V3LS$2AK\$Y:@4S(
{-R%$5>$"36SV0$BKY4K$40$N1KRK6Y3LS(
!'BB%>$I!./(*B%7-*+."&"EP$N32:JKG$2N32:JK($$2M3@363$:BG$WLK
AU$9Y0$RK2L3LKW4K$432L13R36:2SG$9Y0$RK2L3LKW4K$5KAK1:6:$~40L
B3L01:G$3$RK2L3LKW4K$<$_LK$RK2L3LKW4K($^$AU$:B00L0$N13AK$43
NKNULM9G$026:$W9A2LA90L0G$WLK$2NK2KJ4U$RKJ:LS2C$W05K;LK$:4K5K(
^$C$LK6SMK$OKW9$A3B$2M3@3LS>$~"0T2LA9TL0(
{-R%$5>$#3M:B$KJ13@KB}
!'BB%>$‡\JUBG$A$@3A:2:BK2L:$KL$LK5KG$WLK$AU$2KJ:130L02S$R0;
63LSG$WLKJU$2L3LS$2W32L6:AKTG$:$LK5R3$BU$9@430BG$MLK$:@$432$N13A <
C$:6:$519NN3(
†0N01S$9${3O:6:$NKCA:632S$AK@BKY4K2LS$6:JK$N1:4CLS$BK\$2LK;
1K49$:$:@B04:LS2CG$6:JK$NK@AK6:LS$519NN0$KR01Y3LS$NKJ0R9G$K2;
L3A3C2S$N10Y40T(
{-R%$5>$r$M3M$432W0L$LK5KG$WLKJU$2M3@3LS$~40L$BK:B$1KR:L06CB}
!'BB%>$"9B3\G$WLK$_LK5K$AU$9Y0$:B06:$RK2L3LKW4K(
N$'.>$r$40$BKY0L$6:$K43$5KAK1:LS$~40LG$MK5R3$0T$OKW0L2C$2M3;
@3LS$~40L}
&&)
!'BB%>$XG$_LK$@3B0W3L06S4K€$026:$AU$OKL:L0$2M3@3LS$~40L$:6:
026:$AU$OKL:L0$2M3@3LS$~R3$<$43W:43C$2$_LK5K$BKB04L3G$A$6\JKB
269W30$NK2L9N3TL0$L3MG$M3M$AU$2W:L30L0$49Y4UB(
{-R%$5>$IP+C/$,/0+,'4/"0',%%+/(+(-&/B/+,'/J%4-,,/B/+/#/./(%+,'+1,-*Q+H(/+/(7'(%(5EP$7U$_LK$201S0@4K}
!'BB%>$KA01V044K$201S0@4K(
{-R%$5>$IP+,'.'3%('$5,/)(%EP$8LKG$NK$:O$B404:\G$C$BK59$N1:;
KJ102L:G$NK2L9N3C$A$2KKLA0L2LA::$2$:O$9M3@34:CB:}$-K2MK6SM9G
-055:G$R06K$@R02S$LK6SMK$A$LKBG$WLK$MK5R3$C$40$9A01043$:$40$@43\G
WLK$B40$49Y4K$R063LSG$C$BK59$2M3@3LS>$~^L3MG$BKT$N2:OKL013N0AL
2M3@36$B40$R063LS$LK;LK$:$LK;LKG$NK_LKB9$:B044K$_LK$B40$:$260R9;
0L$R063LS($-K_LKB9$C$N1K2LK$40$@43\(
N$'.>$7U$6:V30L0${3O:6S$A2CMKT$NKRR01YM:G$2KA0L9C$0T$R063LS
LKG$WLK$K43$OKW0L$R063LS(
!'BB%>$7U$OKL:L0$2M3@3LSG$WLK$N13A3$519NN3}
N$'.>$?3$BKT$A@56CRG$N13A:6S40T$JU6K$JU$2M3@3LS>$~"063T$A20G
WLK$L0J0$OKW0L2C$R063LS$A$KN10R06044UO$43N13A604:COG$4K$B40
M3Y0L2CG$WLK$AU$6:V30L0$00$A2CMKT$KNK1UG$N010M63RUA3C$43${3;
O:6S$A2\$KLA0L2LA044K2LS($$40$W9A2LA9\G$WLK$K43$9Y0$M$_LKB9
5KLKA3(
!'BB%>$r$M3M$AU$2W:L30L0G$_4R:}
xy,4%>$$40B4K5K$@3$400$NKJ3:A3\2S(
!'BB%>$7U$LKY0$2W:L30L0G$WLK$519NN3$N13A3}
xy,4%>$$2W:L3\G$WLK$K4:$AN3R3\L$A$M13T4K2LS(
!'BB%>$7K@BKY4KG$9$B04C$N1K2LK$JU63$103MZ:C$N1KL:A$519NNU(
xy,4%>$$2W:L3\G$WLK$A20$RK6Y4K$R063LS2C$NK2L0N044K($$K56C;
RUA3\2S$43$00$Y:@4SG$:$B40$C24KG$WLK$2N13A:LS2C$2K$A20B$213@9
K43$40$A$2K2LKC4::G$:$C$A:Y9G$WLK$K43$KNCLS$R0630L$LK$Y0$23BK0(
#$40T$J9R0L$N10R[CA604K$26:VMKB$B4K5K$L10JKA34:TG$:$KY:R34:C
LKY0$J9R9L$40NKB014UB:(
!'BB%>$7$L3MKB$269W30$AU$KJ0$D3ML:W02M:$@34:B30L0$NK@:Z:\
B0YR9$B4KT$:$519NNKT(
{-R%$5>$$LKY0$@34:B3\$NK@:Z:\$B0YR9$A3B:$:$519NNKT(
F3+%4OH4!$&&"#-1+4*+2$*3$83"'7($*3)
"3600$C$@34C63$NK@:Z:\G$@3M6\W3\]9\2C$A$LKBG$WLK${3O:6S
:B00L$N13AK$23BK2LKCL06S4K$10V3LSG$M3M$JU2L1K$0T$260R90L$:@B0;
4CLS2C(
&&.
!'BB%>$$2W:L3\G$WLK$AU$N13AU($=KC$NK@:Z:C$26:VMKB$M13T;
4CC($$AUV63$:@$20JC$:$13@K@6:632S($$AK2O:]3\2S$L0BG$WLK$AU
KM3@36:2S$A$2K2LKC4::$2M3@3LS$~40L$519NN0G$3$LK6SMK$WLK$<$L3MY0
:$B40G$:$40$NK@AK6:6:$B40$@3OKR:LS$26:VMKB$R360MK($$2W:L3\G
WLK$20TW32$9Y0$A3V$2KJ2LA044UT$13@9B$29B00L$9M3@3LS$A3BG$432MK6S;
MK$B4K5K$BKY4K$NK@AK6:LS$20J0$9RKAK6S2LA:T$:$M3M$R360MK$N1KRA:;
49LS2C$AN010R(
ˆ0$@3R3W3$JU63$:@B04043($ˆ26:$134SV0$0T$49Y4K$JU6K$JULS
402W32L4KT$:$5KAK1:LS$~40LG$LK$20TW32$0T$49Y4K$JU6K$10V3LSG$M3M
JU2L1K$5KAK1:LS$~R3($†3M:B$KJ13@KBG$KLA0L2LA044K2LS$@3$00$:@B0;
404:0$JU63$AK@6KY043$43$400$23B9(
&-+0/,$p555%$Y+2.'#P'*/'$/[('*'*/,
F3+%4GH4!#"&.)&"()"4)4$3#+/$31+4#"=#"**))
7UM3@3A$KLM1ULK0$40NKA:4KA04:0$N2:OKL013N0AL3BG${3O:6S$L0B
23BUB$2R06363$5:534L2M:T$V35$M$23BK2LKCL06S4K2L:$:$43$260R9\;
]:O$203423O$KN:2UA363$2AK\$4KA9\$Y:@4S($‚19NN3$43NKB4:63$B40G
WLK$A$Z06CO$@3M10N604:C$:@B0404:T$260R90L$@3N634:1KA3LS$105102;
2:\(
#601$:$_4R:$N1:V6:$43$20342$J0@${3O:6:G$MKLK13C$AN01AU0
KNK@R363G$ NK2MK6SM9$ JU63$ 43$ :4L01AS\$ 9$ 13JKLKR3L06C($ _4R:
43W363$N1CBK$2$NK1K53>$~X43$L3M$2W32L6:A3($X43$NK2LKC44K$2W32;
L6:A3($ 7$ NK260R400$ A10BC$ 43$ B04C$ 2LK6SMK$ 43A36:6K2SG$ N1K2LK
5K6KA3$V63$M195KBG$3$L9L$AR195$L3M3C$@3JKL3$2$N60W$<${3O:6S$L3M
2W32L6:A3G$WLK$C$R3Y0$2M3@363$20J0>$~801L$NKJ01:G$MK5R3$Y0$0T$43;
RK02L$A20$A10BC$96UJ3LS2C}
!'BB%>$?3RK$NK6353LSG$R6C$A32$L3MK0$13@A:L:0$2KJUL:T$M3M$406S@C
JK600$M2L3L:(
N$'.>$"3Y0$1KR:L06:$40$BK56:$40$KLB0L:LSG$M3MKT$2W32L6:AKT
2L363${3O:6S($†0N01S$9Y0$C$NKRJ132UA3\$N1KJ60BU$2AK:B$1KR:L0;
6CBG$NK_LKB9${3O:6S$:@J3A:632S$KL$:O$R3A604:C(
!'BB%>$QLK$9Y324K($?K$M3MK5K$Y0$1KR3$_LK$N1KJ60BU}
7KV63${3O:6SG$_60534L4K$KR0L3C$:$2$2:C\]:B$A:RKB(
&Hw
{-R%$5>$IP)*+)7'(*)5EP$"6C$B04C$432L9N:6K$L3MK0$N10M1324K0
A10BCG$-055:($$N1K2LK$40$BK59$A$_LK$NKA01:LS($$M9N:63$20J0$_LKL
V06MKAUT$MK2L\B($Ix+B/.4/)(5G+4'0/,)(.%."'(+y$'B-,(,2S+0/46
,2S+&/)(G0EP$LK$W0LU143RZ3LS$RK6631KA($$OKW9$L0N01S$JULS$NK;
432LKC]0B9$RKJ1KT$M$20J0(
!'BB%>$Iw)(/./J,/EP$$KN323\2S$JULS$:@6:V40$AK2LK1Y044KT
:@;@3$2AK0T$519NNU(
{-R%$5>$$LKY0$JK\2S$JULS$:@6:V40$AK2LK1Y044KT($$L3M$2W32;
L6:A3G$WLK$43W:43\$JKCLS2CG$WLK$_LK$2MK1K$MK4W:L2C($$40$OKW9
K2L3LS2C$9$13@J:LK5K$MK1UL3($$40$JU63$L3M$2W32L6:A3$9Y0$B4K5K
60L(
!'BB%>$XLW05K$Y0$AU$L3M$2W32L6:AU}
{3O:6S$2$AK2LK15KB$1322M3@363$K$2AK0T$4KAKT$Y:@4:($X43$13JK;
L363$A$10R3MZ::$Y914363G$N0W3L3632S$A$40BG$A2L10W3632S$2$:@A02L;
4UB:$6\RSB:$:$AN01AU0$A$Y:@4:$R06363$LKG$WLK$0T$NK;432LKC]0;
B9$413A:6K2S($!$400$NKCA:632S$AK@BKY4K2LS$24CLS$MA31L:19$43
V02LS$B02CZ0AG$:$K43$9Y0$2KJ:13632S$0\$AK2NK6S@KA3LS2C($X43$W9A;
2LAKA363G$WLK$9Y0$N1:4:B30L$5K13@RK$B04SV0$40N1KR9B344UO$10;
V04:TG$4K$KN326:AK$NK2BKL1063$A$43N13A604::$@01M363$:$2M3@363>
~$@43\G$WLK$519NN0$40$NK413A:L2C$BK0$N1KRA:Y04:0($$2M3@3;
63G$WLKG$AK@BKY4KG$20TW32$K4:$:@B04CL$2AK0$B404:0($X43$1322M3;
@363$K$4KAKB$:4L01024KB$W06KA0M0G$2$MKLK1UB$A2L10W3632S$:$MKLK;
1UT$JU6$NKOKY$43$r6043$"06K43($$2N1K2:63G$KRKJ1:6:$JU$05K
00$1KR:L06:G$:$K43$2M3@363G$WLK$JK:L2CG$WLK$R3($X43$2L363$KJ29Y;
R3LS$2AK\$N1KJ60B9G$M323\]9\2C$LK5KG$M3M$260R90L$5KAK1:LS$~40L
B9YW:43BG$NK2MK6SM9$JKC632S$:O$KJ:R0LSG$:$C$NKN1K2:63$202L01
NKBKWS$0T$A$_LKBG$NK2MK6SM9$9$4:O$JU6K$JK6SV0$KNUL3($#K5R3$C
NKRM6\W:632S$M$:O$A0206KT$:4L:B4KT$J020R0G$519NN3$N101A363$00
2L9MKB$A$RA01S$:$AU@A363$B04CG$WLKJU$2KKJ]:LSG$WLK$K4:$2KJ:13;
\L2C$@34CLS$NK@:Z:\G$KJ13L49\$_LKT$13RK2L:G$:$43W:43\L$AU;
2M3@UA3LS$J02NKMKT2LAK$NK$NKAKR9$1051022::($-1:J6:Y3632S$0A10T;
2M3C$ -32O3G$ MKLK13CG$ M3M$ :$ A$ N1KV6KB$ 5KR9G$ BK563$ N1:A02L:$ M
AK@4:M4KA04:\$43N1CY044K2L:$:$MK4D6:ML3B($#1KB0$LK5KG${3O:6S
A4KAS$5KLKA:632S$M$N0100@R9G$:$43B$260RKA36K$KY:R3LS$10Z:R:A3
N10RUR9]:O$N1KJ60B(
!'BB%>$‚19NN3$KNCLS$B04C$132M1:L:MKA363($^B$M3Y0L2CG$WLK$BU
26:VMKB$OK1KVK$N1KAKR:B$A10BC($Ix')(.2+M2.&-G(EP$X4:$KJ02;
NKMK04U$L0BG$WLK$BKY0L$N1K:@KTL:$43$0A10T2M9\$-32O9$:6:$A$269;
W30G$026:$AU$KNCLS$NKN1KJ90L0$N0100O3LS(
&H&
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9W32LAKA3LS$A$N32O36S4KB$9Y:40($$NKN1K2:63$00$@313400$NKR9B3LS
K$ 103MZ::$ 1KR:L060TG$ WLKJU$ NKR5KLKA:LS2C$ M$ 23BKB9$ O9RV0B9(
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4:B:$JK1SJ9}$#3M:B$KJ13@KB$K43$29B00L$2N13A:LS2C$2$W9A2LAKB
A:4U}$#3M:B$KJ13@KB$0T$9R32L2C$9R01Y3LS2C$KL$LK5KG$WLKJU$N1:;
4CLS$2LK1K49$KR4K5K$:@$4:O}$80B$BKY0L$KJ0149LS2C$R6C$KLZ3$_LKL
9Y:4G$026:$00$40$J9R0L$1CRKB$:$40MKB9$J9R0L$KM3@3LS$0B9$NKRR01Y;
M9$A$N1KL:AK2LKC4::$1KR:L06S2MKT$20BS0$B3L01:}${3O:6S$KLA0L:;
63>$~=40$N1K2LK$N1:R0L2C$KLM3@3LS2C$KL$J635K1KR4KT$B:22::$A0W;
4K$0B9$95KYR3LS($=U$A4:B3L06S4K$1322BKL106:$A20$AK@BKY4U0
2:L93Z::G$:${3O:6S$@3CA:63G$WLK$9A01043$A$LKBG$WLK$29B00L$2N13;
A:LS2C$2$6\JKT$:@$4:O(
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4UB$519NNKT$N10RK2L010Y04:CB$K$N10YR0A10B044KB$KNL:B:@B0(
!'BB%>$‚19NN3$432L1K043$40$2LK6S$KNL:B:2L:W4KG$M3M$BU($X4:
KN323\L2CG$WLK$9$A32$A4KAS$432L9N:L$R0N1022:CG$:$_LKG$A01KCL4KG
269W:L2C$A$N01:KR$0A10T2MKT$-32O:$:6:$026:$AU$90R0L0$KL$1KR:L0;
60T($7$2AC@:$2$_L:B$K4:$10MKB04R9\LG$WLKJU$AU$N10R43B01044K
:@U2M36:$AK@BKY4K2LS$AN32LS$A$R0N1022:\$A$_L:O$RA9O$269W3CO(
{-R%$5>$r$WLKG$026:$C$40$29B0\}
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M$L0B$K]9]04:CBG$MKLK1U0$9$A32$JU6:G$:6:((($I./0&%'+)(/,2+%
)0'R+)/+7)'R+)(/./,EP$73B$AKA20$40$49Y4K$AK@A13]3LS2C$43$:2OKR;
4U0$NK@:Z::(
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2$6\JUB:$NKRKJ4UB:$2:L93Z:CB:(
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4KA9\${3O:6S(
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\]0$2K$2AK0T$4KAKT$N1:W02MKTG$A$4KAKB$N63LS0G$2$4KAKT$MK2B0;
L:MKT$:$2:C\]:B$AU13Y04:0B$6:Z3($X43$43W363$:4L01AS\$260R9;
\]:B:$26KA3B:>
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B9YW:49(
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)0'REP
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B:$2${3O:6S\$N010B043B:$:$LK6SMK$KR43YRU$NKNUL36:2S$AK2NK6S;
@KA3LS2C$00$4KAUB$1KB34KB$M3M$KLN13A4KT$LKWMKT$R6C$1034:B:1K;
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O:6S$JK6SV0$40$N1:4:B363$9W32L:C$A$:O$J:LA3O($ˆT$9R3A36K2S$R01;
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60T$M3M$569JKM9\$:$N1KRK6Y:L06S49\$2AC@S$B0YR9$RA9BC$40NKMK;
60J:BUB:$:$13A4UB:$N1KL:A4:M3B:$2$LA01RUB:$402KAN3R3\]:;
B:$AK@@104:CB:G$MKLK1U0$K4:$AU13Y36:$J0@$A2CM:O$KMK6:W4K2L0T
NK$6\JKB9$AKN1K29($-K2MK6SM9$_LK$JU6$:O$2NK2KJ$6\J:LS$R195
R1953G$K4:$KN10R06044K$40$49YR36:2S$4:$A$M3MKB$NK2LK1K440B$AB0;
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53($=3LS$L3MY0$N1:@4363G$WLK$13@$9Y$K4:$NK2LKC44K$AK0A36:$B0YR9
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