!
WX!
@%+!%+/%6!#,.&:%/!1%/:%/!#+%!)+,.!D†(!F+7D%!-:%(!%+/%!Z%$&(&43(!&/!%+/!
&34-(+)+%(4%)!#%(G+,%C<%/4%(H!
y!
J%//!:&)!\+)$7&B!:%)!e%(‰4)!2%+!%+/%6!#4-‡!d%(2(+,.4K!)4%77%/!#+%!:%/!
@%4(+%2!:%)!e%(‰4)!)-D-(4!%+/H!@%(†.(%/!#+%!:+%!d%(2(-,.%/%/!A%+7%!/+,.4!3/:!
G%()3,.%/!#+%!/+,.4K!:+%)%!d3!%/4D%(/%/H!J%/:%/!#+%!)+,.!3/G%(d†87+,.!&/!
%+/!&34-(+)+%(4%)!#%(G+,%C<%/4%(H! !
3'@).:0%&)'$'"T-."L'%5).(-'("-'8"X&$8$.F$.+$.%-'("
\+%)%)!#B62-7!96+4!-:%(!-./%!6&))+G%6!@&7'%/;!&6!e%(‰4K!&/!:%/!
5''3)!9)-D%(/!%/4.&74%/;!3/:i-:%(!&/!:%(!=%($&,'3/8!d%+84!&/K!:&))!
:&)!e%(‰4!3/:!)%+/!%7%'4(+),.%)!‹32%.ˆ(!92%+)$+%7)1%+)%!%+/!F%&:)%4K!
%+/!5:&$4%(!-:%(!%+/!E&2%7;!3/:!:+%!5''3)!/+,.4!†2%(!:%/!(%837‰(%/!
F&3)6†77!d3!%/4)-(8%/!)+/:H!\+%)%![7%6%/4%!)-774%/!/+,.4!†2%(!:%/!
3/)-(4+%(4%/!F&3).&74)6†77!%/4)-(84!1%(:%/K!)-/:%(/!)4&44:%))%/!%+/%(!
d%(4+D+d+%(4%/!#&66%7)4%77%!d3(!J+%:%(G%(1%(43/8!-:%(!d3(!-(:/3/8)8%6‰‡%/!
[/4)-(83/8!d38%D†.(4!1%(:%/H!
\%4&+77+%(4%(%!N/D-(6&4+-/%/!d3(!J+%:%(G%(1%(43/8!:%)!e%(‰4)!-:%(!:%)!5''3)!
%(.&74%/!#+%!2%+!:%(!7-'&7%/!#4&:4G%(1&743/8K!2%+!:%(!*†77&2D3.(!-:%(!+6!
>&,.8%),.‰D4H!
\+%![/4)-(83/8!:%)!e%(‰4)!3/:!:%(!5''3)!9)-D%(/!%/4.&74%/;!3/4%(7+%84!:%(!
O%3D&))3/8!:%(!Z+,.47+/+%!†2%(!:+%![/4)-(83/8!%7%'4(+),.%(!3/:!%7%'4(-/+),.%(!
e%(‰4%!9Z+,.47+/+%!Ia"Ii"ci[?;!)-1+%!:%(!5''3(+,.47+/+%!9Z+,.47+/+%!IaaWiWWi[e;H!
[7%'4(-/+'),.(-44!3/:!@&44%(+%/!)+/:!G-6!Z%)46†77!d3!4(%//%/K!36!$-4%/d+%77%!
?61%74%+/D7†))%!3/:!e%D&.(%/!D†(!:+%!6%/),.7+,.%!e%)3/:.%+4!:3(,.!
6ˆ87+,.%(1%+)%!G-(.&/:%/%!e%D&.()4-DD%!d3!6+/+6+%(%/H!
\+%)%)!e%(‰4!%(D†774!:+%!Z[5<FC=%(-(:/3/8!j=%(-(:/3/8!9[e;!O(H!"caXiIaaWk!
)-1+%!:+%!O%3D&))3/8!:%(!Z-F#CZ+,.47+/+%!9Z+,.47+/+%!Ia""iWVi[?;H!@&44%(+%/!3/:!
5''3)!9)-D%(/!+6!L+%D%(36D&/8!%/4.&74%/;!%(D†77%/!:+%!@&44%(+%Ci5''3(+,.47+/+%!
9Z+,.47+/+%!IaaWiWWi[e;H!5'43%77%!N/D-(6&4+-/%/!d3(![+/.&743/8!:%(!
Z[5<FC=%(-(:/3/8!3/:!:%(!Z-F#CZ+,.47+/+%!D+/:%/!#+%!&3D!:%(!J%2)%+4%!
.44$Rii,-/)36%(H.3&1%+H,-6i,%(4+D+,&4+-/H!
L&'E04%-'("8$."LGW1$5%&::-'($'"
1$'-%T-'("0:"Aj.6$.
!
\&)!e%(‰4!%/4)$(+,.4!:%/!Z>C5/D-(:%(3/8%/K!1%//!%)!+/!%+/%6!52)4&/:!G-/!
aKV,6!G-/!N.(%6!Eˆ($%(!G%(1%/:%4!1+(:H!5,.4%/!#+%!:&(&3DK!'%+/%!‹32%.ˆ(4%+7%!
1+%![43+)!3/:!A(&8%4&),.%/!&3)!*%4&77!d3!G%(1%/:%/H!F&74%/!#+%!:&)!e%(‰4!G-/!
N.(%6!Eˆ($%(!D%(/K!36!:%/!8%D-(:%(4%/!52)4&/:!%+/d3.&74%/H!