A defesa do pan-americanismo nas páginas de Américas: (1949-1968)

!"#$##%&#'!%%()#*#)+,#

-!#.+!

/

!"#$##%&#'!%%()#*#)+,#

)''(%1#2-!#3%('($1#*#45#$6#

7#8)$#*!%# *! %!&%#8# *(

9'%#*.#2-! (8 (+#2:('

$1(%$#6)!$#)'

*#

;

; ; 6!8!

(7)&<$6)# 3#%6)#+ 3#%# !=1($2-!

*!1>1.+!*(8('1%((8(+#2:('

$1(%$#6)!$#)'; '!= # !%)($1#2-!

*!%!?@ %@+!*!#+*!5.($!@

-!#.+!

A

5B

@ @ 5C

D %DE

@ @FGC H I

J'(83%(*)?>6)+('6%(,(%#&%#*(6)8($1!'3!)'3!%8#)'K.($!'('?!%6(8!';'(83%( #6#=#8!'3!%*()7#%#+&.L8)83!%1#$1(?!%#*($!''#+)'1#;8#',#+(#3($#1($1#%@

!8(2!#&%#*(6($*!#!%!&%#8##$)#&! #$1#';#!K.#+'(%()(1(%$#8($1(&%#1# 3(+# !3!%1.$)*#*(@ #8=L8 #&%#*(2! 4 3(+# =!+'# K.( 8( ?!) 6!$6(*)*# ( K.( ?!) ?.$*#8($1#+3#%##%(#+)M#2-!*('1(1%#=#+N!@

! %!?(''!% +!*!#+*! 5.($!; 3(+# 6!$')*(%#2-! ( 3(+# 3#6)<$6)# *.%#$1( '.# !%)($1#2-!@

!' 3%!?(''!%(' .++! )&(,#$) ( .)M (%$#$*! O(%=( K.( 6!83.'(%#8 8)$N# =#$6#*(K.#+)?)6#2-!3(+#'!='(%,#2:('@%!?(''!%.++!$-!#=%).8-!*(8)8K.#$*!(. 8('8#"PN#,)#*(')'1)*!;(3!%)''!;(.+N('(%()'(83%(#&%#*(6)*#@

&%#*(2!#!'6!83#$N()%!'*#8)$N#1.%8#*(8('1%#*!3(+#6!$,),<$6)#(#8)M#*(@ (?!%,(%*#*(K.(!'#8)&!'$!'8!+*#8;(.8(6!$')*(%!.8#3(''!#*(8.)1#'!%1(3(+# !3!%1.$)*#*(*(('1#%6!83(''!#'K.(8(8!+*#%#81-!=(8@

!' #8)&!' *( 8.)1! 1(83! K.( 1<8 ')*! # =Q''!+# ( ! 6#"#*! K.( !%)($1#8 ( '.'1($1#8(''#6#8)$N#*#@

!8(.3#)(48)$N#)%8-;?#8>+)#K.(%)*#*!3%('($1(@

R8(89%)#*(8)$N#8-((8(.'K.(%)*!')%8-!';?#8>+)#*('(83%(@

S

('1( 1%#=#+N! #$#+)'#8!' # %(,)'1# ; 3.=+)6#2-! *( 6#%P1(% 6.+1.%#+ *# %&#$)M#2-! *!' '1#*!' 8(%)6#$!' @ #$2#*# (8 ( 6)%6.+#$*! #1L !' *)#'

#1.#)'; 3#''!. 3!% *),(%'#' %(?!%8.+#2:(' (8 '.# 6!83!')2-! 3!% ?!%2# *#' ,#%)#2:('

!6!%%)*#'$!')'1(8#)$1(%#8(%)6#$!($#3%93%)#@8'(.'3%)8()%!'#$!';L 8#%6#*#8($1( .8 ,(>6.+! *( 6#%P1(% 6.+1.%#+; '($*! 3#.1#*# 3(+# *),.+&#2-! *!' NP=)1!' (

6!'1.8('*!'3!,!'#8(%)6#$!'@$1%(1#$1!;$!*(6!%%(%*!'#$!'S06!8(2##?.$6)!$#%

6!8! .8# 3(K.($# "#$(+# 3(+# K.#+ L 3!''>,(+ ,)'+.8=%#% ! *('($,!+,)8($1! *!' *(=#1('

'!=%(#'K.('1:('(6!$T8)6#';'!6)#)'(3!+>1)6#'*!6!$1)$($1(;(;#39'#(,!+.2-!.=#$#;

'.#'3P&)$#'#=%(8('3#2!*(?)$)1),!3#%##3!+>1)6#(!6!$?%!$1!*#.(%%#%)#@

#$#8(%)6#$)'8!U (+#2:(' 8L%)6# #1)$#U .+1.%#U %&#$)M#2-!

*!''1#*!'8(%)6#$!'U@

N)'V!%W)'#=!.11N( ;3%)$1(*=O1N(%&#$)M#1)!$!?8(%)6#$

1#1(' @ (+(#'(* )$ ; )1 N#' =(($ 1N%!.&N 8#$O %(V!%*' !$ )1' 6!83!')1)!$

=(6#.'( !? 6N#$&(' !66.%%(* #1 1N( )$1(%#8(%)6#$ 'O'1(8 #' V(++ #1 @ $ )1' ?)%'1 O(#%';

V#'%(8#%W#=+O6.+1.%#++O!%)($1(*;V!%W)$&!$3.=+)6)M(1N(6.'1!8'!?

1N( 3(!3+(' !? 8(%)6#@ F!V(,(%; =O 1N( S0X'; )1 +!!W' +)W( #$ !3($ V)$*!V VN)6N V(

6!.+*'((=!1N'!6)#+#$*3!+)1)6#+3%!=+(8'!?1N(6!$1)$($1;#$*;#?1(%1N(.=#$(,!+.1)!$;

1N()%3#&('!3($(*'3#6(1!1N(3!+)1)6#$*1N(!+*Y#%6!$?%!$1#1)!$@

Z(OV!%*[ #$#8(%)6#$)'8U #1)$ 8(%)6#$ (+#1)!$'U .+1.%(U %&#$)M#1)!$ !?

8(%)6#$1#1('U@@

\

&%#*(6)8($1!'@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ ('.8!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@S ='1%#61@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ $1%!*.2-!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@

#3>1.+![3%('($1#$*!#8L%)6##!'8(%)6#$!'

@(!#$#8(%)6#$)'8!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ @/ E.(%(,)'1#L(''#]@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ @A ( '(.' +()1!%(' @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@A/ @ ( '(.' 1(8#' @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@AA # 3 > 1 . + ! / $ ! ' S 0 C L 6 # * # * ( . % ! /@ #=(%1.%# 3#%# ! 6#3)1#+ 3%),#*! ( # 3%!8!2-! *! *('($,!+,)8($1!@@@@@@@@@@@@@@@@@@@@@@A /@/ *(=#1( (6!$T8)6! &#$N# ('3#2!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@A /@A 1%#$')2-! %.8#$)'($N!V(%@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@S /@ 3(%#2-! #$#8(%)6#$# ( # 6%)#2-! *! 5 @@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@A

# 3 > 1 . + ! A $ ! ' 0 C 8 ( ' 3 ( 6 1 % ! % ! $ * # # 8 L % ) 6 # A@ ,)#&(8 *( )7!$ ( # 3(%#2-! #$8(%)6#$#@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@\ A@/ +)#$2# 3#%# ! %!&%(''!@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ A@A .(%%# %)# 6N(&# #@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@ @ !$')*(%#2:(' )$#)'@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@

(?(%<$6)#' !6.8($1#)'@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@/A

5)=+)!&%#?)#@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@/S

'1( 1%#=#+N! 1(8 6!8! !="(1),! %(#+)M#% .8 ('1.*! '!=%( # ; 3(%)9*)6! 3.=+)6#*! 3(+# %&#$)M#2-! *!' '1#*!' 8(%)6#$!' # 3#%1)% *( (

*)'1%)=.>*!3#%#!'(1!*##8L%)6##1)$#@

*)1#*# (8 1%<' )*)!8#'; # 3.=+)6#2-! 6."! 3%)$6>3)! (%# ^#3%('($1#% # 8L%)6# #!'

#8(%)6#$!'_;?!).8)83!%1#$1()$'1%.8($1!*(3%!3#&#$*#3#%##;?.$6)!$#$*!6!8!

8()! *( *),.+&#2-! *!' ?()1!' ( 6!$K.)'1#' *# ($1)*#*( ( #1.#$*! $! K.( '(.' (*)1!%('

3($'#,#8'(%!?!%1#+(6)8($1!*!'3%)$6>3)!'()*(#)''.="#6($1('#!3#$#8(%)6#$)'8!@

('6!3! *('1( 1%#=#+N! #=%#$&( #' *.#' 3%)8()%#' *L6#*#' *# 3.=+)6#2-!

; # 3#%1)% *! K.#+ 3%(1($*('( 8!'1%#% ! '.%&)8($1! ( # (,!+.2-! *( .8 ,(>6.+! *(

6!8.$)6#2-!K.(L3%!?.$*#8($1()$?+.($6)#*!C#!8('8!1(83!(8K.(3%!6.%#(7(%6(%

#+&.8#)$?+.<$6)#C3(+!3#$!%#8#*#'%(+#2:(')$1(%#8(%)6#$#'@

%#1#'(1#8=L8*(.8#3('K.)'#?()1##3#%1)%*(.8#?!$1(3%)8P%)##1L#&!%##)$*#

$-!('1.*#*#('!=%(#K.#+!6!$N(6)8($1!#)$*#L=#'1#$1(+)8)1#*!@?!6!*('1(1%#=#+N!L

3!.'#*! K.#'( K.( (76+.'),#8($1( '!=%( ! 1%#1#8($1! *!6.8($1#+ *#' ?!$1(' '(+(6)!$#*#';

.1)+)M#$*!'( 1#8=L8 =)=+)!&%#?)# '(+(6)!$#*# 6!8! 8#1(%)#+ #.7)+)#% 3#%# ! ('6+#%(6)8($1!

*( K.('1:(' K.( #' ?!$1(' 3!% ') '9' $-! '-! 6#3#M(' *( %('3!$*(%; 3!'1! K.( ('1#' $(8

'(83%('-!3%!*.M)*#'6!8!!="(1),!*('(%,)%*(=#'(3#%#!'K.('1)!$#8($1!'3%!3!'1!'

3(+!'3('K.)'#*!%('@#'3#+#,%#'*(`#6K.('(!??/00S;3@\[

^*!6.8($1!$-!L)$!6($1(;$-!*(6!%%(#3($#'*#('6!+N#*! N)'1!%)#*!%;(+( 3%93%)! 3#%6)#+8($1( *(1(%8)$#*! 3!% '.# L3!6# ( '(. 8()!U ! *!6.8($1! L 3%!*.M)*! 6!$'6)($1( !. )$6!$'6)($1(8($1( 3(+#' '!6)(*#*(' *! 3#''#*!; 1#$1! 3#%# )83!% .8# )8#&(8*(''(3#''#*!K.#$1!3#%#*)M(% _@&%)?!*!#.1!%

('6!+N# *! %(6!%1( 1(83!%#+ 1#8=L8 ?!) 8!1),#*# 3!% %#M:(' (71(%$#' 4' ?!$1('@

!6!$1(71!*#.(%%#%)#C8!'1%!.'(6!8!#8#)'#*(K.#*#3#%##".*#%#%(,(+#%#'1($':('

K.(%('.+1#%#8$#'*),(%'#')*#'(,)$*#'*#%(,)'1#(*#3%93%)#%&#$)M#2-!@!6!$&%(&#%

,)$1((.8#*#'%(3Q=+)6#'K.(($1-!6!83.$N#8!6!$1)$($1(#8(%)6#$!$!8!8($1!*('.#

?.$*#2-!(8 ;#%(?+(1)#!"!&!*(3!*(%(##'')8(1%)#(7)'1($1(($1%(!3%)$6)3#+

#1!% %(&)!$#+ C !' C ( '(.' ,)M)$N!'; 6."!' )$1(%(''(' ( $(6('')*#*(' $(8 '(83%(

6!)$6)*)#86!8#'*)'3!')2:('*#'.3(%3!1<$6)#*!$!%1(@

#%###$P+)'(*#3.=+)6#2-!;.1)+)M#%(8!'#+&.$'6!$6()1!'K.('(8!'1%#%#8Q1()'$#

6!83%(($'-!*!'($1)*!*#'?!$1('.1)+)M#*#'@8*(+('L!*(;#3%('($1#*!3!%

!=(%1 `(%,)' (8 '.# !=%# ; 6."#

3%!3!'1#;(8=!%#8.)1!=#'(#*#(8('1.*!'3')6!+9&)6!';LQ1)+#!#''.8)%K.(!'#1!%('$#

3!+>1)6#)$1(%$#6)!$#+3!''.(8)8#&($'(6%($2#''!=%(!'!.1%!'#1!%('K.('-!6!$'1%.>*#'(

8!*)?)6#*#';6!$'1)1.)$*!'((83(%6(32:('*#%(#+)*#*(;?%(Ka($1(8($1(6!$1%#'1#*#'6!8!

?+.7!*()$?!%8#2:('@

%)&)$#+8($1(; `(%,)' #3+)6# (''# ?(%%#8($1# *( #$P+)'( #!' 6N(?(' *( '1#*! (

#$#+)'1#' 3!+>1)6!' *)%(1#8($1( ($,!+,)*!' $!' 3%!6(''!' *( 1!8#*# *( *(6)'-! (8 3!+>1)6#

(71(%$#@ !%L8; $! 6#'! 3%('($1(; 1#+ #=!%*#&(8 L .8# 6!83+(1# )83!'')=)+)*#*( *(,)*! 4

$#1.%(M#*#'?!$1('('6!+N)*#'@;6!8!1!*!8#1(%)#+"!%$#+>'1)6!;$-!6!$'1)1.).8#

! ;8#'')8.8##3%('($1#2-!*#8('8#8(*)#*#3(+!!+N#% *!%(*#1!%K.(%(6!%1#('(+(6)!$#!'(+(8($1!'*#%(#+)*#*(3#%#3%!*.M)%#)$?!%8#2-!K.(

K.(%?#M(%6N(&#%#!'(.+()1!%@('1(1%#=#+N!;#''.8('(K.(#'3P&)$#'*#%(,)'1#%(?+(1(8

.8 6!$".$1! *( 3(%6(32:(' 8#)' !. 8($!' *)?.$*)*#' '!=%( ! #8=)($1( )$1(%$#6)!$#+ *!

6!$1)$($1(#8(%)6#$!( K.(3!*(8 ('1#%,)$6.+#*#'#!*)'6.%'!*!8)$#$1($# !.;(8

!.1%!'8!8($1!';6!$?)&.%#%(6!'*(!3)$):('8!1),#*#'3!%3(%6(32:('*),(%&($1('@

! 8('8! 6#8)$N!; #%' 6N!.+1M #3%('($1# (8 '.# !=%#" #$

0

*(.8#3(%'3(61),#*(+!$&#*.%#2-!;!.'("#;!#.1!%*('($,!+,(..8##83+#3('K.)'#(8

*!6.8($1!' !?)6)#)' ( 3(''!#)' 3%!*.M)*!' 3!% ?.$6)!$P%)!' &%#*.#*!' ( *)%)&($1(' $!%1(

#8(%)6#$!'#!+!$&!*(8#)'*(6($1!(6)$Ka($1##$!'*()$*(3($*<$6)#3#%#*(8!$'1%#%#

?!%8#2-! *#K.)+! K.( 6N#8!. *( C ('1%.1.%# 8($1#+ C ( K.(; '(&.$*! ! 3%93%)!; ^*(1(%8)$#!'6!$1!%$!'=P')6!'*#3!+>1)6#*!''1#*!'$)*!'_(8%(+#2-!#!'3#>'('+#1)$!

#8(%)6#$!'@N!.+1M; ;3@

$-!L.8#3.=+)6#2-!*!&!,(%$!$!%1(#8(%)6#$!;L.83(%)9*)6!(*)1#*! 3!% .8# !%&#$)M#2-! )$1(%$#6)!$#+ K.( 8#$1L8 .8# (K.)3( 3%!?)'')!$#+3#%# %(#+)M#% 1#+

1#%(?#; 8#' ".$1#8($1( 6!8 # )*L)# *( 3(%6(32-!; L 3!''>,(+ 3($'#% '!=%( # 3#%1)% *( K.(

3%(''.3!'1!' !. ('1%.1.%#' 8($1#)' !' %(*#1!%(' ( 6!+#=!%#*!%(' *! 3(%)9*)6! %(1%#1#,#8 !

6!$1)$($1(6!8!.81!*!(#8L%)6##1)$#(83#%1)6.+#%@

)6#%*!#+,#1!%(()+=(%1@`!'(3N(8'(.+),%! " % ";$!' !?(%(6(8 )83!%1#$1( 6!$1%)=.)2-! '!=%( # .1)+)M#2-! *( 1(6$!+!&)# *( )$?!%8#2-! 6!8!

)$'1%.8($1!3#%##6!$'1%.2-!*()8#&($'(%(3%('($1#2:(''!=%(#8L%)6##1)$#;!K.($!'

#".*#%P#)$'(%)%#%(,)'1# $!6!$1(71!*#' &;#83+!#6(%,!

*( 3.=+)6#2:('; ('1.*!' ( )$'1)1.)2:(' 6%)#*#' 3#%# # ,()6.+#2-! *( )$?!%8#2:(' (

*)''(8)$#2-!*(%(3%('($1#2:('@

J)83!%1#$1(1#8=L8+(,#%(86!$1#K.(#('.#'3.=+)6#2:('?!%#86%)#*#'(8

.8 6!$1(71! 8.)1! ('3(6>?)6! C # .(%%# %)# C 8#%6#*! 3(+# *)'3.1# ($1%( *.#'

'.3(%3!1<$6)#';*)'3!'1#'#.1)+)M#%1!*!'!'8()!'#'(.#+6#$6(3#%#3(%3(1.#%'.#3%93%)#

3!')2-! ( #83+)#% # '.# +)*(%#$2# '!=%( ! ')'1(8# *( ('1#*!' *! 3(%>!*!@ ' #,#+)#2:(' *!

_{(K.)3(*(%(*#2-!*(8L%)6#'(%#?!%8#*#3!%'()'%(*#1!%('(.8*)%(1!%%('3!$'P,(+3(+#6!!%*($#2-!@}

6($P%)! )$1(%$#6)!$#+ ?()1#' 3(+!' #1!%(' *! 3(%>!*! 3#%1)#8 *# 3%(8)''# *( K.( ! 8.$*!

('1#%)# *),)*)*! ($1%( !' 3#>'(' 6!8.$)'1#' +)*(%#*!' 3(+# ( !' 3#>'(' 6#3)1#+)'1#'

+)*(%#*!' 3(+!' ; ?!%8#$*! .8 6!$'($'! )$1(%'.="(1),! K.( )$?+.($6)#,# !

6!83!%1#8($1!*!'3#>'('+(,#$*!!'##3!)#%.8*!'+#*!'(8+.1#M(83)(+b!'($#.;

/000;3@///@ (!#61!*(#%'9,)#'-! (7(83+!'*()$'1)1.)2:('('1#=(+(6)*#'

*($1%! *! =+!6! 6#3)1#+)'1# ( *! =+!6! '!6)#+)'1#; %('3(61),#8($1(; *#$*! ?!%8#+)*#*( 4'

3(%6(32:('(#!'6!83!%1#8($1!'*!'#1!%(')$1(%$#6)!$#)'*.%#$1(#.(%%#%)#@#+*)!+);

/00 ;3@\@

''#' 3(%6(32:(' '!=%( ! 8.$*! =)3!+#% (%#8 6!83#%1)+N#*#' 3(+!' *)%)&($1('

$#6)!$#)'; ?.$6)!$P%)!' ( #$#+)'1#' +)&#*!' #!' !%&#$)'8!' )$1(%$#6)!$#)' ( '( %(?+(1)#8 $!

*)'6.%'!; (8 3.=+)6#2:(' ( $!' ('1.*!' 3%!*.M)*!' 3(+#' 8('8#'@ 8=!%# $-! '( 3!''#

#?)%8#%K.(!'1($N#8(7(%6)*!'.#)$?+.<$6)#'!=%(.8!%&#$)'8!8.+1)+#1(%#+6!8!#

*( ?!%8# *)%(1# ( )$K.('1)!$P,(+; 1#8=L8 $-! '( 3!*( )&$!%#% # (7)'1<$6)# *( 6(%1#

#*('-! *# 8L%)6# #1)$# 4 )*L)# *( .8# 6),)+)M#2-! !6)*($1#+ +)*(%#*# 3(+!' $!%1(

#8(%)6#$!'/@

+L8*#*!6.8($1#2-!3%)8P%)#;1#8=L8'(%P.1)+)M#*#=)=+)!&%#?)#'(+(6)!$#*#6!8!

#.7)+)#%$#+()1.%#*(''(8#1(%)#+;3!'1!K.(#)$?!%8#2-!N)'19%)6#'!=%(#'%(+#2:('($1%(!'

('1#*!' $! 3(%>!*! L *( (71%(8# %(+(,c$6)# 3#%# 3%(($6N(% #' +#6.$#' *()7#*#' 3(+#

*!6.8($1#2-! ( #1L 8('8!; (8 #+&.$' 8!8($1!'; '($*! .8 6!$1%#3!$1! Q1)+ 4 (+# ( 4

)$1(%3%(1#2-!K.('(?#M'!=%(#8('8#@

1%#=#+N!('1P('1%.1.%#*!(81%<'6#3>1.+!'C$!3%)8()%!;)$1)1.+#*!^]E.( %(,)'1# L (''#]_ ?#M'( .8# #3%('($1#2-! *# 3.=+)6#2-! #$#+)'#*# (8 '(.' #'3(61!' &(%#)'[

(K.)3( %('3!$'P,(+ 3!% '.# 6!$?(62-!; !="(1),!'; N)'19%)6!; 3(%)!*)6)*#*(; 1(8P1)6#' 8#)'

/_{!=%((''#K.('1-!;'.&(%)8!'#+()1.%#*(@#'1%!!3@6)1@K.(#$#+)'###*('-!*(3#%1(*#)$1(+(61.#+)*#*(}

/

%(+(,#$1(';)$'(%2-!$!8(%6#*!(*)1!%)#+=%#')+()%!()$'(%2-!$!3%!"(1!&(%#+*(6!$'1%.2-!

*!3#$#8(%)6#$)'8!(*#)8#&(83Q=+)6#*#@

'(&.$*!; 6N#8#*! ^ L6#*# *( .%!_; 3%(1($*( 8!'1%#% # #1.#2-! *# %(,)'1#

*.%#$1(#*L6#*#*(S0;#$#+)'#$*!!'1(8#'1%#1#*!'$#''.#'(*)2:('(86!83#%#2-!6!8

! 6!$1(71! N)'19%)6!; *#$*! <$?#'( 4' 3%)$6)3#)' K.('1:(' '.%&)*#' $!' 3+#$!' 3!+>1)6! (

(6!$T8)6!;3%!6.%#$*! *('1#6#%!3!')6)!$#8($1!!.#!8)''-!*#3.=+)6#2-!?%($1(#1#)'

#6!$1(6)8($1!'@

3!+>1)6#6!$1)$($1#+(%#1%#1#*#'(+(1),#8($1((*(8#$()%#'.3(%?)6)#+@ .%#$1((''#

8('8# *L6#*#; ! *)'6.%'! )$)$1(%%.31! (8 *(?('# *# *(8!6%#6)# 6!$,),(. 1%#$Ka)+#8($1(

6!8 !' &!+3(' *( '1#*! *( .+&<$6)! 5#1)'1# (8 .=# ( *( #%6!' (%(M `)8($(' $#

($(M.(+#S/;+?%(*!1%!(''$(%$!#%#&.#)S;(#*(3!')2-!*(`#6!=!%=($M;

$#.#1(8#+#S@

!1(%6()%!6#3>1.+!^8'3(61%!!$*##8L%)6#_;3%!6.%#'(*(8!$'1%#%6!8!!

1%).$?! *# (,!+.2-! .=#$# )$?+.($6)!. !' %.8!' *# 3.=+)6#2-!; (7)&)$*! 8.*#$2#'

'($'>,()'(8'.#!%)($1#2-!(*)1!%)#+(+(,#$*!#8.*#$2#'('1L1)6#'(*(6!$1(Q*!;%(?+(1)$*!

!3%93%)!3!')6)!$#8($1!*#(8%(+#2-!4.=#('(.&!,(%$!%(,!+.6)!$P%)!@

*L6#*#*(08#%6##(?(1),#3!+)1)M#2-!*(@!*## #=!%*#&(8?()1# '!=%(!'3%!=+(8#'6!$1)$($1#)'(#')$'1)1.)2:('6!83!$($1('*!')'1(8#)$1(%#8(%)6#$!;#1L

($1-!; %(#+)M#*# *( 8#$()%# 3.%#8($1( )+.'1%#1),#; ?!) %(!%)($1#*# 3#%# *#% *('1#K.( #!'

8L%)1!'*!3%93%)!')'1(8#@ .%#$1(#*L6#*##$1(%)!%;#'(8=#)7#*#'*!'3#>'('#8(%)6#$!'

(8 Y#'N)$&1!$ (%#8 #3%('($1#*#' #!' +()1!%(' (8 .8 ?!%8#1! 8.)1! '(8(+N#$1( #! *#'

A

#3>1.+!

.)1! "P ?!) ('6%)1! '!=%( ! 3#$#8(%)6#$)'8! $# N)'1!%)!&%#?)# =%#')+()%# '!=%( #'

%(+#2:(' )$1(%#8(%)6#$#'@ ('*( ! +),%! *( +),()%# )8#; *),(%'!' ?!%#8 !' #.1!%('

=%#')+()%!'K.('(*(=%.2#%#8'!=%(!#''.$1!*)%(1#8($1(!.6!8!3#%1(*(!.1%!'('1.*!'@

-! '(%P 3!''>,(+ ?#M(% .8# %(,)'-! #83+# *(''(' 1(71!'; .8# ,(M K.( $-! L !="(1),! *!

3%('($1( 1%#=#+N! .8# #,#+)#2-! *# 1%#"(19%)# *! 3($'#8($1! $#6)!$#+ '!=%( ! 1(8#; $(8

8('8! .8# #$P+)'( #3%!?.$*#*# '!=%( ! )*(#+ #$8(%)6#$! ( '.#' 3%(8)''#'; 8#' .8#

3(K.($#)$1%!*.2-!'(?#M$(6(''P%)#@

)*L)#*#(7)'1<$6)#*(.8#.$)-!($1%(!'3!,!'*#'8L%)6#';('3(6)#+8($1((8'.#

#6(32-! 3!+>1)6#; L 8.)1! #$1)&#@ $1(' 8('8! *# (?(1),#2-! *# )$*(3($*<$6)# 3!+>1)6# *#'

6!+T$)#' ('3#$N!+#' $# 8L%)6#; (8 S C *.%#$1( ! (7>+)! $# `#8#)6#; 5!+>,#% "P

3%!3.&$#,# K.( *(''( 3%!6(''! *( +)=(%#2-! 3!+>1)6# *(,(%)# %('.+1#% # .$)?)6#2-! *(''#'

3!''('':('(8.8#&%#$*($#2-!+#1)$!#8(%)6#$#;(8=#'#*#$!'3%)$6>3)!'*!3($'#8($1!

+)=(%#+[

^J.8#)*L)#('3+<$*)*#1($1#%1%#$'?!%8#%1!*!!$!,!8.$*!$.8#Q$)6#$#2-!; 6!8.8Q$)6!,>$6.+!+)&#$*!#'3#%1('($1%(')(#!1!*!@)'1!K.((+("P3!''.).8#'9 !%)&(8; .8# '9 +>$&.#; .8 '9 6!%3! *( 6!'1.8(' ( .8# '9 %(+)&)-!; *(,(%)#; 6!$'(Ka($1(8($1(; 1(% .8 '9 &!,(%$! K.( 6!$?(*(%#''( !' ,P%)!' '1#*!' K.( '(%-! ?!%8#*!'@_5!+>,#%;/

3%)8()%!3#''!$!'($1)*!*('(?!%8#%.8#6!$?(*(%#2-!($1%(!''1#*!'+#1)$!

! K.#+; *#*#' #' 6!$*)2:(' N)'19%)6#' *! 8!8($1!; $-! !=1(,( ! <7)1! ('3(%#*!@ #$1!';

/00A;3@\\S

8#$!,#1($1#1),#*(('1#=(+(6)8($1!*(.8#6!!3(%#2-!8.+1)+#1(%#+($1%(!'3#>'('

*! 6!$1)$($1( ?!) %(#+)M#*# 6!8 # 6!$,!6#2-! *( .8 6!$&%(''! *( ".%)'6!$'.+1!' C 3!%

)$)6)#1),#*!&!,(%$!3(%.#$!C($1%(!?)$#+*( \\( \ ;6!8!!="(1),!*(('1#=(+(6(%

$!%8#' .$)?!%8(' 3#%# ! )%()1! $1(%$#6)!$#+ %),#*!@ 8=!%# !.1%!' 3#>'(' 1($N#8 ')*!

6!$,)*#*!';$-!6!83#%(6(%#8#!($6!$1%!;*(?!%8#K.(?!)('1#=(+(6)*!.8#6!%*!3(+!'

*(+(&#*!' *# %&($1)$#; 5!+>,)#; N)+(; .=#; !'1# )6#; K.#*!% ( (%.; #=%)$*! ('3#2!

3#%# K.( .8 $!,! 6!$&%(''! ?!''( 6!$,!6#*! 3!% %.&.#) ( %&($1)$# (8 ; ! K.#+

%('.+1!. $# #'')$#1.%# *( *),(%'!' 1%#1#*!' *( *)%()1! )$1(%$#6)!$#+ $#' P%(#' 6>,(+; 3($#+ (

6!8(%6)#+3(+!'8('8!'3#>'('@)*(8;3@\

)*L)# *( ?!%8#% .8# .$)-! 6!$1)$($1#+ ?!) #3%!3%)#*# 3(+! (6%(1P%)! *( '1#*!

$!%1(#8(%)6#$!`#8('5+#)$(K.(3%!3T';(8 ;#%(#+)M#2-!*(.8#6!$?(%<$6)#($1%(#'

$#2:('#8(%)6#$#'6!8^!3%!39')1!*(6!$')*(%#%(('1.*#%!'8L1!*!'3#%#3%(,($2-!*(

&.(%%#' ($1%( #' $#2:(' *# 8L%)6# d@@@e ( 6.)*#% *!' )$1(%(''(' *( 1!*!' $! ?.1.%!_@ !

($1#$1!;#%(.$)-!1(,(*('(%#*)#*#*(,)*!#!3%!+!$&#8($1!*(.8#&.(%%#($1%(#5!+>,)#;

!N)+((!(%.;#6N#8#*#.(%%#*!#6>?)6!;?%.'1%#$*!#'')8#3%!3!')2-!*!'(6%(1P%)!

*(('1#*!@($V)6W;S;3@

8 A; ?!) %(#+)M#*! ! !$&%(''! 5!+),#%)#$! (8 #%#6#'; (8 6!8(8!%#2-! #!

6($1($P%)!*()8!$5!+>,#%;8!1),#*!3(+#$(6('')*#*()83!'1#3(+#.(%%#*!#6>?)6!*(

'(6!+!6#%(8*(=#1(!%(3Q*)!#!*)%()1!*(6!$K.)'1#(#6%)#2-!*($!%8#'(3%!6(*)8($1!'

3#%##%=)1%#8($1!*(*)'3.1#'($1%(!'3#>'('*!6!$1)$($1(@*(8;3@S

3%)8()%#%(.$)-!*(3#>'('*!6!$1)$($1('9'((?(1),!.K.#$*!!!$&%(''!$!%1(

#8(%)6#$!;(8 ;#.1!%)M!.!3%(')*($1(#6!$,)*#%!'3#>'('*#8L%)6#($1%#+(*!.+

S

!="(1),!*(6!$')*(%#%.86!$".$1!8.)1!#83+!*(K.('1:('K.(($,!+,)#8!3%!=+(8#*#

'(&.%#$2#*!1(%%)19%)!6!$1)$($1#+;(;3%)$6)3#+8($1(;*#'%(+#2:('6!8(%6)#)'($1%(!'3#>'('@

(''#6!$?(%<$6)#CK.(($1%!.3#%##N)'19%)#6!8!!$?(%<$6)#$1(%$#6)!$#+8(%)6#$#C

'.%&( # 3%)8()%# .$)-! 6!$6%(1# ( ?!%8#+)M#*# ($1%( !' 3#>'(' *! 6!$1)$($1( #8(%)6#$!; #

$)-!$1(%$#6)!$#+*#'(3Q=+)6#'8(%)6#$#'!.$)-!#$8(%)6#$#@

$'3)%#*!' $! )*(#+ *( 3#$#8(%)6#$)'8! *(?($*)*! 3(+! (6%(1P%)! `#8(' 5+#)$(;

($1%( !' !="(1),!' 3%!3.&$#*!' 3(+! !$&%(''! $!%1(#8(%)6#$! 3#%# # !$?(%<$6)#;

6!$'1#,#88(*)*#'K.( =.'6#,#8?#6)+)1#%!6!8L%6)!($1%(!'( #'!.1%#'%(3Q=+)6#'

#8(%)6#$#'@!($1#$1!;!#+6#$6(*#'3%!3!'1#'(%#8.)1!#83+!;6%)#$*!.8#'($'#2-!($1%(

#' *(+(&#2:(' 3%('($1(' *( K.( '( =.'6#,# 6%)#% .8 !%&#$)'8! $!%8#1),! '.3%#$#6)!$#+;

6#3#M *( *)1#% 3!+>1)6#' 3#%# # %(&)-!; ! K.( (,)*($1(8($1( $-! )$1(%(''#,# # 3#>'(' K.(

+.1#%#8 1-! #%*.#8($1( 3!% '.#' #.1!$!8)#'@ ! ?)$#+ *# !$?(%<$6)# ! K.( '( #1)$&). *(

6!$6%(1!?!)#6!$'1)1.)2-!*(.8('6%)19%)!6!8(%6)#+'(*)#*!(8Y#'N)$&1!$A;(##*!2-!*(

#%=)1%#8($1!!=%)&#19%)!3#%#%('!+.2-!*(*)'3.1#'($1%(!'3#>'('#8(%)6#$!'@

$1%(('1#3%)8()%#!$?(%<$6)#(#D!$?(%<$6)#*#'(3Q=+)6#'8(%)6#$#'$#K.#+

# ?!) ?.$*#*# (8 ; (8 5!&!1P; 8.)1!' ?!%#8 !' ('?!%2!' *( 6%)#% .8 ('3#2! *(

*)P+!&! ( *( $(&!6)#2-! ($1%( !' '1#*!' *! 6!$1)$($1(@ 6!%*!' ,)'#$*! # #83+)#2-! *!

6!8L%6)!; # *(?('# ( # '(&.%#$2# *! 6!$1)$($1( *(%#8 # 1T$)6# *#' !$?(%<$6)#' ( *#'

%(.$):('*#'*),(%'#'6!8)'':('6%)#*#';6!8!#!8)''-!$1(%#8(%)6#$#*(`.%)'6!$'.+1!';

($6#%%(&#*# *( ('1.*#% 8()!' *( .$)?!%8)M#% *#' $!%8#' ".%>*)6#' *! )%()1! $1(%$#6)!$#+

Q=+)6!(%),#*!3#%#?#6)+)1#%#'%(+#2:('C('3(6)#+8($1(#'6!8(%6)#)'C($1%(!'3#>'('*!

6!$1)$($1(@

7)'1(8 *),(%'#' )$1(%3%(1#2:(' '!=%( ! ')&$)?)6#*! *! 3#$#8(%)6#$)'8!@ (%$#$*!

#'1%! #?)%8# K.( ! 1(%8! 3#$#8(%)6#$)'8! L .1)+)M#*! =#')6#8($1( (8 *.#' #6(32:('@

8#; ,)$6.+#*# #! 3($'#8($1! +#1)$!#8(%)6#$! ( !%)&)$#*# *.%#$1( !' 8!,)8($1!' *(

)$*(3($*<$6)# ( !.1%#; ,)$6.+#*# #! 3($'#8($1! $!%1(#8(%)6#$! 6!$'.='1#$6)#*! $#

!.1%)$#!$%!(#'1%!;!3@6)1@;@3#$#8(%)6#$)'8!*(#6(32-!+#1)$!#8(%)6#$#

('1#%)# ($1-! =#'(#*! $! )*(#+ *( .$)-! ( '!+)*#%)(*#*( 6!$1)$($1#+ 6!$1%# # (73+!%#2-!

(.%!3L)#@!%!.1%!+#*!;!3#$#8(%)6#$)'8!$!%1(#8(%)6#$!C=#'(#*!$# !.1%)$#!$%!(

C =.'6#%)# &#%#$1)% ! #?#'1#8($1! *!' 3#>'(' (.%!3(.' 3#%# K.( ! 6!$1)$($1( 3(%8#$(6(''(

6!8!'.#P%(#*()$?+.<$6)#(76+.'),#@*(8

!$)M 5#$*()%# \ ; 3@A0 '(&.( 3!% .8 6#8)$N! '(8(+N#$1( #! #?)%8#% K.( #

!$?(%<$6)# *( 0 ?!%# ^8#)' .8# ,)19%)# *! ('1)$! #$)?('1!_ #! 6!$'(&.)% #

3#%1)6)3#2-! *( 1!*!' !' 3#>'(' *! 6!$1)$($1( ( 3!% 6!$'(&.)% (76+.)% *(?)$)1),#8($1( #

)$?+.<$6)# (.%!3L)# '!=%( !' 3#>'(' +#1)$!#8(%)6#$!'; '.='1)1.)$*!# 3(+# '.# 3%93%)#;

('3(6)#+8($1((81(%8!'(6!$T8)6!'@

#,)* N()$)$ #3!$1# K.( ^!' +#1)$!#8(%)6#$!' #''!6)#%#8 %#3)*#8($1( ! 3#$

#8(%)6#$)'8! # .8# #&($*# 3#%# ! ('1#=(+(6)8($1! *# )$?+.<$6)# $!%1(#8(%)6#$# $!

N(8)'?L%)!$!'$>,()'3!+>1)6!;('1%#1L&)6!;6.+1.%#+((6!$T8)6!@_!3@6)1@3@

!'1%<'6#'!';8!'1%#'(.8#3!'1.%#K.(!3:(#'^3!=%('(?%#6#'$#2:('*!'.+_#!

^6!+!''!*!$!%1(_;$.8#1($1#1),#*(8!'1%#%K.(#'#8=)2:(')83(%)#)'*!'(&.$*!1(%)#8

'(%,)*!6!8!8()!*(!3%(''-!*!'3%)8()%!'@

#+ 3(%'3(61),#; #)$*# K.( %(,('1)*# *( .8 &%#. (+(,#*! *( 6%>1)6# #! 3!*(%

N(&(8T$)6!(7(%6)*!3(+!''1#*!'$)*!'$#%(&)-!3#%(6(*('6!$N(6(%!?#1!K.(#%(+#2-!

($1%($!%1(#8(%)6#$!'(+#1)$!#8(%)6#$!'$-!L.8#,)#*(8-!Q$)6#(8K.(('1('#6()1#8

3#''),#8($1( #' *(1(%8)$#2:(' )83!'1#' 3(+!' 3%)8()%!'@ 8=!%# $-! '("# 3%(1($'-! *('1(

1%#=#+N! ('&!1#% ! *(=#1( '!=%( ! ')&$)?)6#*! *! 3#$#8(%)6#$)'8! '("# 3#%# !' ; '("#

3#%#!'3#>'('+#1)$!#8(%)6#$!';L)83!%1#$1(('6+#%(6(%K.(8('8!%(6!$N(6($*!#,#+)*#*(

\

# K.('1-!@ -! '( 3!*( $(&#% K.( ! &!,(%$! $!%1(#8(%)6#$! 1),(''( !="(1),!' 8.)1! =(8

*(?)$)*!' #! 6!$,!6#% # !$?(%<$6)# $1(%$#6)!$#+ 8(%)6#$#; 3!%L8; '( $-! N!.,( !

6!$,($6)8($1! *#' %(3Q=+)6#' 3%('($1(' #! ($6!$1%!; 1#8=L8 $-! N!.,( )83!')2-! *(''('

!="(1),!' C N#"# ,)'1# K.( # ?!%8#2-! *( .8# .$)-! #*.#$()%# $! 6!$1)$($1(; 3%)$6)3#+

!="(1),!#'(%#1)$&)*!;$-!!=1(,(<7)1!@

8L%)6##1)$#$-!L.81!*!)$*),)'!;8#'.86!$".$1!*($#2:('6!81%#*)2:('(

)$1(%(''('=#'1#$1(*),(%')?)6#*!'(;(8#+&.$'8!8($1!';*),(%&($1('@!3(%>!*!(8('1.*!

6#*#.8*(+('#3%!3%)!.'(*!)*(#+3#$#8(%)6#$!(6!$?(%).#(+(!'')&$)?)6#*!'K.(+N('

3#%(6(%#88#)'#*(K.#*!'#!''(.')$1(%(''('($(6('')*#*('@

-!3!.6!'(*(,(#''.8)%K.(#$!2-!$!%1(#8(%)6#$#*!3#$#8(%)6#$)'8!1($N#

'( 6!$'1)1.>*! (8 .8 6!$6()1! )8.1P,(+@ ( 3!% .8 +#*! !' 3+#$!' *( 5+#)$( &)%#,#8 (8

1!%$! *! ('1#=(+(6)8($1! *# N(&(8!$)# (6!$T8)6# *!' '!=%( ! 6!$1)$($1(; # 3!+>1)6#

$!%1(#8(%)6#$#*!'#$!'A0(0&#$N!.8.)1!8#)'?+(7)=)+)*#*((3(%8(#=)+)*#*(4'

%(),)$*)6#2:(' +#1)$!#8(%)6#$#'; K.( 3.*(%#8 #3%!,()1#%'( *# %(19%)6# *( .$)*#*( (

6!!3(%#2-!6!$1)$($1#+3#%##1($*(%#'(.'3%93%)!')$1(%(''(';)$6+.'),($!'($1)*!*(%(?%(#%

!)83(%)#+)'8!$!%1(#8(%)6#$!@1%((1(%;3@\

(7(83+!*(''#8.*#$2#$!%(+#6)!$#8($1!*!'6!8#8L%)6##1)$#3!*(

'(% ($6!$1%#*! $# !+>1)6# *# 5!# )M)$N#$2#; *('($,!+,)*# 3(+! &!,(%$! *( %#$W+)$ @

!!'(,(+1*.%#$1(!'#$!'A0(0*!'L6.+!BB@5*P.8#$!,#%!.3#&(84%(19%)6#*!

3#$#8(%)6#$)'8!;=#'(#$*!'($.8#'.3!'1#.$)*#*(*(!%)&(8(*(,#+!%('6!8!".'1)2#;

+)=(%*#*( ( *(8!6%#6)# ($1%( #' 8L%)6#' *! !%1( ( *! .+@ *(8; 3@@ 83!%1#$1(

+(8=%#% K.( 1#+ 8.*#$2# $-! !6!%%(. &%#1.)1#8($1(@ ' 3%('':(' *! 6($P%)! )$1(%$#6)!$#+

#*,)$*#' *# (3%(''-! ( *! '.%&)8($1! *( %(&)8(' #.1!%)1P%)!' $# .%!3#U *! 8#+('1#%

3!+>1)6# ( '!6)#+ *!' 3#>'(' *! '.+ *! 6!$1)$($1( ?!%2#%#8 # %(,)'-! *# #1.#2-! *!'

3(%#$1('(.',)M)$N!'@

('1( 1%#=#+N! ! 3#$#8(%)6#$)'8! L 1%#1#*! 6!8! .8 6!$6()1! K.( '(%,). *( =#'(

3#%# # .$)-! 6!$1)$($1#+ '!= # +)*(%#$2# *!' @ %(1($*('( 8!'1%#% 6!8! $# %(,)'1#

;#.$)-!(81!%$!*#(%#1%#1#*#6!8!%('.+1#*!$#1.%#+*!3%!6(''!)$)6)#*! (8 /3!%5!+>,#%;*#$*!?!%8#!%&c$)6##!)*(#+#$#8(%)6#$!@

'')8 6!8! # %&#$)M#2-! *!' '1#*!' 8(%)6#$!' L 6!$')*(%#*# 3!% '(.'

*)%)&($1(' 6!8! 6!$1)$.)*#*( *# $)-! #$#8(%)6#$# ; ?.$*#*# (8 ;

1#8=L8L,)'1#6!8!6!$1)$.#*!%#*#1#%(?#(7(%6)*#3(+!' # (@

*)1#*!($1%(!.1.=%!*( A($!,(8=%!*( ;!5!+(1)86.83%)##*.3+#?.$2-!*(*#%

3.=+)6)*#*( 4' *)'6.'':(' 3!+>1)6#' *# ( *( *),.+&#% #'3(61!' *# ,)*# 6.+1.%#+ (

(6!$T8)6#*!6!$1)$($1(;($1%(1#$1!;#'*)?)6.+*#*('*(?)$#$6)#8($1!'!?%)*#'3(+#($1)*#*(

!=%)&#,#8#.8#1($*)8($1!#3($#'3#%6)#+*(''('!="(1),!';*#>#*(6)'-!*(*('8(8=%#%!

5!+(1)8 (8 *.#' 3.=+)6#2:(' *)'1)$1#'; # "P 6)1#*# ( ) " ; ('1# Q+1)8#; ($6#%%(&#*# *( 3.=+)6#% !' *!6.8($1!' !?)6)#)'@S#' 3#+#,%#'*!(6%(1P%)!(%#++=(%1!+(%#'#8#%&![

^#%#!('1>8.+!*#'%(+#2:('$-!!?)6)#)'($1%(!'3!,!';=(86!8!3#%#*)?.$*)% !' #'3(61!' 8#)' )$1(%(''#$1(' *# '.# (,!+.2-! ( 3%!&%(''!; 1!%$#% 8#)' 6!$N(6)*#' #' ?!%8#'*('.#6.+1.%#(;'!=%(1.*!;3#%#3T%(8(,)*<$6)#!'3%!=+(8#'K.('(#$1!+N#8#! '(.*('($,!+,)8($1!#1.#+;6!8.86%)1L%)!#6(''>,(+46.+1.%#(#!''($1)8($1!'3!3.+#%('; N#,(%P1#8=L8.8#%(,)'1#8($'#+(*)1#*#3!%($K.#$1!(81%<')*)!8#';K.(6.83%)%P#'

_{(%(6(K.)+!!3@6)1@;3@S;8)1N!3@6)1@;3@00\;!.%#!3@6)1@}

S_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';* + ,;,!+@;$f;$)-!#$}

?)$#+)*#*('K.('(3%!3T'!5!+(1)8*#$)-!#$#8(%)6#$#;1#+,(M6!8!(83%(&!8#)' )$1($'! *( 1!*!' !' %(6.%'!' )$?!%8#1),!' *( K.( *)'3:( #1.#+8($1( # $)-!; ( 6!8 .8# #3%('($1#2-!+)1(%P%)#(&%P?)6#8#)'#1%#($1(_@

!*('( 3(%6(=(% K.( #+L8 *( %(?!%2#% # *),.+&#2-! *!' *(=#1(' '!=%( ! ')'1(8#

)$1(%#8(%)6#$! 1%#,#*!' $! )$1(%)!% *# ; 1#8=L8 (%# $(6(''P%)! 6N(&#% #! 6)*#*-!

6!8.8;#1)$&)%!'^'($1)8($1!'3!3.+#%('_;3#%#K.(('1('('1),(''(8(86!$'!$c$6)#6!8!'

!="(1),!'*!)*(#+3#$#8(%)6#$!@

)$>6)!*#3.=+)6#2-!?!)=#'1#$1(*)?>6)+;*#*!!(+(,#*!6.'1!*('.#3%!*.2-!(#'

*)?)6.+*#*('*(*)'1%)=.)2-!$!1(%%)19%)!6!$1)$($1#+@

%(,)'1#1(,('.#3.=+)6#2-!)$)6)#*#(88#%2!*(;6!8!!="(1),!*( '(%,)% 6!8! .8 ,(>6.+! 3#%# # 3%!8!2-! *! ($1($*)8($1! ( *# .$)-! ($1%( !' 3!,!'

#8(%)6#$!'#1%#,L'*!6!$N(6)8($1!8Q1.!;!.$#'3#+#,%#'*#3%93%)#%(,)'1#^#3%('($1#$*!

#8L%)6##!'#8(%)6#$!'_@.=+)6#*##1L#&!'1!*( (81%<')*)!8#'3!%1.&.<';)$&+<'

( ('3#$N!+; #39' (''( 3(%>!*! # (*)2-! (8 +>$&.# 3!%1.&.('# *()7# *( '(% (*)1#*# ( #

3(%)!*)6)*#*( *#' (*)2:(' L #+1(%#*#; 3#''#$*! # '(% *( *(M (7(83+#%(' 3!% #$!; ( 8#)'

%(6($1(8($1(;=)8('1%#+@ ('*(\; ('1P*)'3!$>,(+(88()!(+(1%T$)6!;$#3P&)$#

*#$#$1(%$(1@

%(*#2-! *# %(,)'1# ('1#,# '(*)#*# (8 Y#'N)$&1!$; '!= # '.3(%,)'-! *)%(1# *!

(6%(1P%)!(%#+*#;!K.#+3!''.>#3+($#6!$,)62-!'!=%(#$(6('')*#*(*(.8,(>6.+!

6!8 1#)' 6#%#61(%>'1)6#'; 6!$?!%8( ,)8!' $# 6)1#2-! *( '(. %(+#19%)!@ )$*# #'')8; (%#8

?%(Ka($1('#'*),(%&<$6)#'($1%(!(6%(1P%)!(%#+(#!8)''-!*()$#$2#';($6#%%(&#*#*(

#$#+)'#% #$.#+8($1( # 3%!3!'1# *( !%2#8($1! *# ($1)*#*( (+#=!%#*# 3(+! 3%)8()%!@ !

3%)8()%! #$! *( '.# 3.=+)6#2-! (7(%6>6)! ?)$#$6()%! *( 00\ # A00; ?!%#8

*('1)$#*!' 6(8 8)+ *9+#%(' 3#%# 6.'1(#% 1!*#' #' *('3('#' %(+#1),#' 4 )83%(''-!; %(*#2-! (

_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';* + ,;,!+@;$f/;$)-!#$}

/0

*)'1%)=.)2-!\*( A/@000 .$)*#*(' *# 8('8#; 6!8 # (73(61#1),# *( K.( ! 6.'1! 3.*(''( '(%

6!83($'#*! 3(+# ,($*# *!' (7(83+#%('@ $1%(1#$1!; ! %(1!%$! ?!) *( #3%!7)8#*#8($1( '()'

8)+ ( !)1!6($1!' *9+#%('; ?%.'1%#$*! #' (73(61#1),#' )$)6)#)'U 3!%L8; ! 8#+ %('.+1#*! ?!)

8)$)8)M#*!3(+!3%#M!#)$*#6.%1!3#%#.8##,#+)#2-!8#)'6!$'(Ka($1(;('3(%#$*!'(K.(

$!(7(%6>6)!'(&.)$1(N!.,(''(.8#%(6.3(%#2-!')&$)?)6#1),#@

3('#% *!' ('?!%2!' )$)6)#)' *# (6%(1#%)# (%#+; #' ,($*#' 6!$1)$.#,#8 =#)7#' (8

%(+#2-! #!' 6.'1!' *( 3%!*.2-! *# %(,)'1#; !6#')!$#$*! .8# %(*.2-! *! )$,('1)8($1! $!

(7(%6>6)!'(&.)$1(@%(+#19%)!*#'(6%(1#%)#&(%#+3%(,)#.8#,(%=#*(g0A@S00;003#%#

)83%(''-!(*)'1%)=.)2-!*#'1%<'(*)2:('*(K.(#!8)''-!*()$#$2#'*)8)$.). 3#%#g @S00;00@!3#%(6(%*#!8)''-!;^(8?#6(*#3%('($1(*)'1%)=.)2-!*#%(,)'1#;L

*.,)*!'!K.((+##''.8##'3%!3!%2:('3%(,)'1#'3(+!(6%(1P%)!(%#+d@@@e_@

+(%#' $-! )&$!%#,# !' 6.'1!' *( 3%!*.2-! ( #' *)?)6.+*#*(' (8 *)'1%)=.)% !'

(7(83+#%('(".'1)?)6!.K.(!&#'1!#)$*#$-!3!*(%)#'(%8($!%$#K.(+(8!8($1!*(,)*!4'

*)?)6.+*#*('*(*)'1%)=.)%#%(,)'1#(8.81(%%)19%)!1-!(71($'!@!%L8;#6%(*)1#,#K.(6!8#

%(#+)M#2-!*(.8#8#)!%3.=+)6)*#*(*(;'.#',($*#'6%('6(%)#8;?#6)+)1#$*!!'(. 6.'1()!; 3!)' ^# 6!$1)$.#2-! *(''( ('?!%2!; 8('8! '(8 3(%*(% *( ,)'1# '(. (+(,#*! 6.'1!;

3%!*.M)%P=($(?>6)!'_@0

*),(%&<$6)# ($1%( ! (6%(1P%)! (%#+ ( # !8)''-! *( )$#$2#' %(')*)# $! *L?)6)1

?)$#$6()%! *# 3.=+)6#2-!; 3!)' 3#%# ('1# (%# *)?>6)+ #6()1#% !' (+(,#*!' 6.'1!' *( .8

)$?!%8#1),!K.(#1L#K.(+(8!8($1!$-!N#,)#1%#M)*!!%(1!%$!('3(%#*!@

\_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';* + ,;,!+@;$f;$)-!#$}

#8(%)6#$#;Y#'N)$&1!$;3@\\\;S0@

$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';!8)''-!*()$#$2#'; * + ,;,!+@;$f/;$)-!#$#8(%)6#$#;Y#'N)$&1!$;3@S S;S0@

_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';!8)''-!*()$#$2#'; *}

+ , -. % /01/(/012;,!+@;$f/;$)-!#$#8(%)6#$#; Y#'N)$&1!$;3@//;SA@

0_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';* + ,;,!+@;$f;$)-!#$}

/

#%# 1(%'( # *)8($'-! *! 6.'1! %(3%('($1#*! 3(+# %(,)'1#; 6!$')*(%('( K.( !

!%2#8($1! 3#%# ! (7(%6>6)! ?)$#$6()%! *( 00\S0 # A00S # 6#%&! *! #=)$(1( *!

(6%(1P%)!(%#+(%#*(#3%!7)8#*#8($1(gA00@000@.'("#;6!$'.8)#'!M)$N# A *# ,(%=#@ (,#$*!'( (8 6!$1# K.( ! !%2#8($1! 1!1#+ *# $)-! #$#8(%)6#$# 3#%# !

8('8!3(%>!*!(%#*(#3%!7)8#*#8($1(g/@S00@000;3!*('(,(%)?)6#%!K.-!')&$)?)6#1),!

(%# (''( 6.'1![ h *! 1!1#+@ %# K.#'( ! 8('8! ,#+!% K.( '( .'#,# 3#%# 8#$1(% !

?.$6)!$#8($1! *# `.$1# $1(%#8(%)6#$# *( (?('#; !.1%# #1),)*#*( 3%)!%)1P%)# *# $!

3(%>!*!;6!1#*!(8g\\@00@

''#*)'6.''-!(81!%$!*#,(%=#3#%#*(,('(%6!83%(($*)*#$!c8=)1!*! *(=#1( 8#)' &(%#+ '!=%( ! !%2#8($1! *# @ '1#; 6!8! (6%(1#%)# (%#+ *# %&#$)M#2-!

*!' '1#*!' 8(%)6#$!' 1)$N# .8# 'L%)( *( %('3!$'#=)+)*#*(' 3!+>1)6#' ( #*8)$)'1%#1),#';

($1%((+#';6!!%*($#%1!*!!#3#%#1!=.%!6%P1)6!*#($1)*#*(;#K.#+;6!8!!.1%#')$'1)1.)2:('

')8)+#%(';*)'3($*)##8#)!%3#%1(*('.#'%(6()1#'6!8#?!+N#*(3(''!#+@#=)#4(6%(1#%)#

(%#+*)'1%)=.)%.8!%2#8($1!#3(%1#*!;6!83!'1!3(+#'6!1#'#$.#)'3#&#')$*),)*.#+8($1(

3(+!' 3#>'('8(8=%!' C K.( $(8 '(83%( #' 8#$1)$N#8 (8 *)#@ ' 8#)!%(' 6!$1%)=.)$1('

(%#8'1#*!'$)*!';5%#')+;%&($1)$#(L7)6!;6."#'6!1#'(%#8*(\; h;;Sh;\;/h

(A;S\h;%('3(61),#8($1(@/

.1%! ?#1!% # '(% 6!$')*(%#*! L # 6)%6.+#2-! *# %(,)'1#@ ' *#*!' *)'3!$>,()' $!'

%(+#19%)!'#$.#)'*#(6%(1#%)#(%#+*-!6!$1#*#K.#$1)*#*(*((7(83+#%('*)'1%)=.>*!'$!

5%#')+; $# 8L%)6# *( +>$&.# ('3#$N!+# ( $!' ; #1L S@ ('*( '(. +#$2#8($1! #'

1)%#&($'*(1),(%#86%('6)8($1!6!$'1#$1((76(1!$!6#'!*#(*)2-!(83!%1.&.<'; 6!8!,(%(8!'#*)#$1(@K.#*%!8!'1%##(,!+.2-!*(6#*#.8#*(+#'[

_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';) -. % /013(/01/;,!+@;$f/;}

$)-!#$#8(%)6#$#;Y#'N)$&1!$;3@0;S0@

/_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';) -. % /01/(/012;,!+@;}

//

$!

!" # $ % & '

*)!8#

( /@000 A@000 @000 @000 /0\@000 /0\@000 //S@000 /A0@000

)* 0@000 0@000 /@000 @000 /A@000 /A@000 /S0@000 / 0@000

)* 0@000 0@000 @000 @000 / @000 / @000 A/@000 \0@000

E.#*%![,!+.2-!$!$Q8(%!*((7(83+#%('*#%(,)'1#8L%)6#'($1%(S0(S\@

iK.)('1-!'!8#*!'!'3%)8()%!'/000(7(83+#%('3.=+)6#*!'(8(!' 000(7(83+#%(' *!#$!'(&.)$1(@

!$1([(+#19%)!'#$.#)'*#(6%(1#%)#(%#+*#;!3@6)1@

' *#*!' #6)8# 8!'1%#8 # (,!+.2-! $#' 1)%#&($' *#' 1%<' (*)2:(' *( 8L%)6#' #!

+!$&! *( '.# 3%)8()%# *L6#*#@ #$! *( $-! #3#%(6( $! K.#*%! 3!% 6!$1# *( .8#

3(6.+)#%)*#*($#(+#=!%#2-!*!'%(+#19%)!'[.8#,(MK.(!6#+($*P%)!?)'6#+*#($1)*#*()#*(

".+N!*(.8#$!#1L".$N!*!#$!'(&.)$1((?!)+#$2#*#$!8<'*(8#%2!*(; #')$?!%8#2:(''!=%(#,($*#*('(.'3%)8()%!'$Q8(%!'?!%#8)$6!%3!%#*#'#!%(+#19%)!*!

#$!?)'6#+'(&.)$1(;S0@

$1%(S0(SA;?!)8#$1)*#6(%1#%(&.+#%)*#*($#)83%(''-!*#'(*)2:('(8$&+<'

((8'3#$N!+;6!8.8+)&()%!#.8($1!$!$Q8(%!*((7(83+#%('*( #8=#'#'+>$&.#'@

(*)2-!(8!%1.&.<''!?%(..8#K.(*#(73%(''),#$!$Q8(%!*((7(83+#%(')83%(''!'($1%(

S/(SA3!%6!$1#*#'*)?)6.+*#*('(7)'1($1('3#%#'.#*)'1%)=.)2-!@

'*)?)6.+*#*('3#%#*)'1%)=.)2-!1#8=L8('1#,#8%(+#6)!$#*#'46!$?(62-!*#%(,)'1#;

3!)'($1%((S;#'(*)2:('*((%#8('6%)1#'()83%(''#'(8Y#'N)$&1!$;K.( '(3(%8)1)#K.(!6!$1(Q*!*#'1%<',(%':('?!''()*<$1)6!;N#,($*!#3($#'#+&.8#'3!.6#'

,#%)#2:(' *('1)$#*#' # #*(K.#% 6#*# $Q8(%! #! '(. 3Q=+)6! +()1!%; 1#8=L8 #1%#'#,# '.#

6N(&#*##!'*('1)$!'3%!&%#8#*!'@3%!6(''!*(3%!*.2-!(%#')83+('[#(K.)3(*(%(*#2-!

3%(3#%#,# !' #%1)&!' ( '(+(6)!$#,# #' 6!+#=!%#2:(' 3#%# 6#*# (*)2-! 1($*! 3!% =#'( #'

/A

(*)2-!(8+>$&.#3!%1.&.('#(%#3%(3#%#*#3!%*!)'%(*#1!%('=%#')+()%!'#3#%1)%*#'

8#1L%)#' "P ,(%1)*#' 3#%# ! ('3#$N!+@ !83#%#$*! (*)2:(' *( )*)!8#' *)?(%($1(' L 3!''>,(+

!='(%,#%#&%#$*(?)*(+)*#*(*(''(3%!6(''!;*(8#$()%#K.(!6!$1(Q*!3%('($1($#%(,)'1#

('1#,#'(83%('!=!6!$1%!+(*#(6%(1#%)#(%#+@

=#)7! %(3%!*.M)8!' *!)' (7(83+#%(' *(''( 3(%>!*!@ (*)2-! (8 $&+<' ?!)

3%(3#%#*# 3#%# 3.=+)6#2-! (8 #=%)+ *( S/ (; # 3#%1)% *(+#; #' (*)2:(' (8 !%1.&.<' ( (8

'3#$N!+ ?!%#8 (+#=!%#*#' ( *)'1%)=.>*#' (8 8#)! *! 8('8! #$!@ ''# *(?#'#&(8 (%#

*(6!%%($1( *! 1(83! $(6(''P%)! 3#%# # 6!83!')2-! ( )83%(''-! *!' (7(83+#%(' K.( '(%)#8

($,)#*!'#!5%#')+(3#%#!%('1#$1(*#8L%)6##1)$#@(*)2-!=%#')+()%#%(3%!*.M)#$-!'9

#6#3#;8#'1!*!!6!$1(Q*!*#%(,)'1#@

?!1!*(6#3##3%('($1#,##8#1L%)#'!=%(#!=%#*!#%1)'1#3+P'1)6!$!%1(#8(%)6#$!

+(7#$*(%#+*(%;#!+#*!*#'8#$6N(1('6!8!'#%1)&!'K.(6!83.$N#8#(*)2-!@Q$)6!

/

3(%1($6($1(4(*)2-!$!%1(#8(%)6#$#(K.($#,(%'-!(8>$&.#!%1.&.('#(%#'.='1)1.>*#

3(+#6!+.$#^.%)!')*#*('*#>$&.#$&+('#_@

F#,)#3!%3#%1(*#(6%(1#%)#(%#+.8('?!%2!*(6+#%#*!3#%##83+)#%#*)'1%)=.)2-!

*((;3#%#1#$1!;?!%#8!%&#$)M#*#'#83+#'6#83#$N#'*(3.=+)6)*#*($!''1#*!' $)*!' ( (8 1!*# # 8L%)6# #1)$# $# =.'6# 3!% #'')$#$1(' 3#%# # %(,)'1# 8()! (''( K.(;

#+L8*(&#%#$1)%.83Q=+)6!+()1!%?)(+;1#8=L8&#%#$1)%)##(7)'1<$6)#*(%(6.%'!'?)$#$6()%!'

3#%#'.#8#$.1($2-!;.8#,(MK.(('1((%#!'(.3%)$6)3#+8()!*(*)'1%)=.)2-!@

#%# 1#$1!; (8 S #' %(,)'1#' 3#''#%#8 # '(% )83%(''#' +!6#+8($1(; 3(%8)1)$*! #

3%!*.2-! *( .8# K.#$1)*#*( 8#)!% *( (7(83+#%(' # .8 6.'1! 8#)' =#)7!; ! K.( #".*# #

(73+)6#% ! 6%('6)8($1! $# 1)%#&(8 *( 1!*#' #' (*)2:('@ (*)2-! =%#')+()%# 3#''!. # '(%

)83%(''#3(+# &%P?)6#*! $'1)1.1!5%#')+()%!*( (!&%#?)#('1#1>'1)6#5(*)'1%)=.>*#

3(+!1(%%)19%)!$#6)!$#+#3#%1)%*(.8('6%)19%)!%(&)!$#+*#')1.#*!$!)!*(`#$()%!@

( ?#1!; '(&.$*! ! !%2#8($1! *# ($1)*#*(; # 8(*)*# 3(%8)1). (+(,#% # 1)%#&(8 *#

(*)2-! =%#')+()%# *( @000 3#%# / @000 (7(83+#%(' 8($'#)' $! 3%)8()%! #$! ( # \0@000

(7(83+#%('(8S\A@

J)83!%1#$1(*('1#6#%K.(1#+8.*#$2#$-!#?(1!.!6!$1(Q*!*#'%(,)'1#';3!)'#3($#'

#)83%(''-!(#*)'1%)=.)2-!?!%#81%#$'?(%)*#';#%(*#2-!*#'8#1L%)#'6!$1)$.!.'($*!?()1#

(8Y#'N)$&1!$;3(+#(K.)3(*(8L%)6#';')1.#*#$#(6%(1#%)#(%#+*#@

!8! %('.+1#*!; #' ,($*#' *( 8L%)6#' #1)$&)%#8 %#3)*#8($1( ! 1!3! $# +)'1# *#'

3.=+)6#2:('8#)',($*)*#'3(+#;6!%%('3!$*($*!#6(%6#*(0h*!1!1#+*#%($*#!=1)*#

3(+#($1)*#*(6!8#,($*#*(3.=+)6#2:('(8SS;$Q8(%!'K.('((+(,#%#8#$!#39'#$!@

8*#*!K.(6N#8###1($2-!L!6%('6)8($1!,(%1)&)$!'!$!$Q8(%!*((7(83+#%('

*#(*)2-!(8$&+<';K.("P(8S('1#,##6)8#*#(*)2-!(8'3#$N!+(K.(6!$1)$.!.

A_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';* + ,;,!+@;$f;$)-!}

#$#8(%)6#$#;Y#'N)$&1!$;3@A;SS@

_{$#)'*#%&#$)M#2-!*!''1#*!'8(%)6#$!';* + ,;,!+@;$f;$)-!}

/S

6%('6($*!$.8%)18!8#)'#6(+(%#*!*!K.(('1#@ #*!'6!$1)*!'$!'%(+#19%)!'1#8=L8*-!

6!$1#*(K.(#(*)2-!$!%1(#8(%)6#$#*#3.=+)6#2-!(%##83+#8($1(,)P,(+*!3!$1!*(,)'1#

(6!$T8)6!; !. '("#; # ,($*# *( (8 1(%%)19%)! $!%1(#8(%)6#$! (%# .8 '.6(''!; 6.'1(#$*! '.#' *('3('#' *( 3%!*.2-! ( 3(%8)1)$*! #'')8; .8 #.8($1! ?%(Ka($1( $#

K.#$1)*#*(*((7(83+#%('@%(#+')&$)?)6#*!*(''#)$?!%8#2-!#)$*#$-!3T*('(%1!1#+8($1(

#,(%)&.#*!; .8# ,(M K.( $-! NP )$?!%8#2:(' *)'3!$>,()' '!=%( ! 3('! %(+#1),! *(''#

3.=+)6#2-! $! 8(%6#*! (*)1!%)#+ *!' ; ($1%(1#$1!; # 6)%6.+#2-! *( A00@000 (7(83+#%('

3#%#.8#%(,)'1#8($'#+C$!3(%>!*!(8K.('1-!C$-!*(,('(%*('6!$')*(%#*#@

!8=#'($(''('$Q8(%!'3!*(8!',(%)?)6#%#)83!%1c$6)#*#3.=+)6#2-!$!6!$".$1!

*!' )$'1%.8($1!' *( 3%!3#&#$*# *# @ (6%(1#%)# (%#+ (*)1#,# .8# 'L%)( *( !.1%#'

3.=+)6#2:('6!8!!="(1),!*(*),.+&#%#'#2:('*#($1)*#*(;8#'$($N.8*(+('%(6(=(.1#$1!

)$,('1)8($1!K.#$1!@ 83!%1#$1(1#8=L8L!='(%,#%!('?!%2!3#%# #(+(,#2-!*# 1)%#&(8*#(*)2-!=%#')+()%#;K.(8('8!6!8!$Q8(%!)$)6)#+*(/@000(7(83+#%('8#$1)$N#

'((8.8$>,(+%#M!P,(+3#%#!'3#*%:('*!8(%6#*!=%#')+()%!@ #*!'*#L3!6#8!'1%#8K.(

/h*!1!1#+*#'%(,)'1#'3.=+)6#*#'$!3#>'1)$N#8#8('8#1)%#&(8*!3(%)9*)6!*#

5;S/;3@@8S;#!#1)$&)%\0@000(7(83+#%(';6N(&##!3#1#8#%*(

3.=+)6#2-! *( $>,(+ 8L*)!; 3!)' # *('3()1! *! 6%('6)8($1! ,(%)?)6#*! $! 8(%6#*! (*)1!%)#+

=%#')+()%!*(($1-!;#3($#'1>1.+!'*!8('8!1)3!3!''.>#81)%#&($')&.#)'!.8#)!%('K.(

00@000.$)*#*('*(8;S ;3@/@

J6.%)!'!!='(%,#%1#+('?!%2!3#%#8#$.1($2-!*(.8,(>6.+!*(3%!3#&#$*#*!3#$

#8(%)6#$)'8! 3!% .8# )$'1)1.)2-! 6!8! # (8 .8 6!$1(71! (8 K.(; #! 8($!'

1(!%)6#8($1(; $-! NP $($N.8 &%#$*( %)'6! *( 6!$1('1#2-! 4 3%!3!'1# *( .$)-! 6!$1)$($1#+

6#3)1#$(#*#3(+#!%&#$)M#2-!@(6(K.)+!!3@6)1@;3@/\!='(%,#K.(#6!$*)2-!&(!&%P?)6#

3(6.+)#%*#8L%)6##1)$#('.#,)$6.+#2-!3!+>1)6##!''1#*!'$)*!'#*()7#,#8*)'1#$1(

/

!3)$)-!*##.1!%#".'1)?)6#K.(#%(&)-!$-!1($N#')*!^3(%6(=)*#6!8!.8#P%(#*(%)'6!!.

3%)!%)1P%)#*!)$1(%(''($!%1(#8(%)6#$!_@

8 !.1%#' 3#+#,%#'; #! ?)$#+ *# .(%%# .$*)#+; # #8(#2# *( .8# )$1(%,($2-!

6!8.$)'1#*)%(1#3#%(6)#('1#%+!$&(*!N(8)'?L%)!@

!($1#$1!;1#8=L8$-!'(3!*(*)M(%K.('(1%#1#''(*(.86#'!)'!+#*!@ .%#$1(!'

#$!'S0*!'L6.+!3#''#*!;.8#'L%)(*()$)6)#1),#'$!6#83!')8=9+)6!('1),(%#8.$)?)6#*#'

(81!%$!*#+.1#6!$1%#!6!8.$)'8!;?#M($*!.'!*(8()!'6!8!!6)$(8#(#+)1(%#1.%#3#%#

,()6.+#%!*)'6.%'!#$1)%.''!@''#')$)6)#1),#'(%#86!$')*(%#*#'3#%1(?.$*#8($1#+*#+.1#;

%(6(=($*!#1($2-!('3(6)#+*()$*),>*.!'6!8!!.)'F#%1M;)$?+.($1(6)($1)'1#3!+>1)6!$!%1(

#8(%)6#$!(.8*!'&%#$*('*(?($'!%('*!(76(36)!$#+)'8!*!3!,!*!''1#*!'$)*!'@8

'(.+),%!4& 5 4 ;F#%1M*(?($*(#)83!%1c$6)#*#3%!3#&#$*#3#%## 6!$'(6.2-!*!'!="(1),!'$!%1(#8(%)6#$!'[

^8# ,(M K.( # +.1# 6!%%($1( 6!$1%# ! 6!8.$)'8! L (8 &%#$*( 3#%1( .8# 6!83(1)2-! )*(!+9&)6# 3!% +(#+*#*(' N.8#$#'; (+# 1%!.7( 4 1!$# # 3')6!+!&)# #8(%)6#$#@ 8#*#'K.('1:('(8"!&!L #*#&%)?!*!#.1!%'!6)#+3#%#6!83(1)%6!8 ! #3(+!*!6!8.$)'8!(8,P%)#'3#%1('*!8.$*!@8#,(MK.(!6%(*!#8(%)6#$!L.8#?L #%%#)&#*#@@@ !=,)#8($1( $-! L .8# 1(!%)# *# K.#+ !.1%#' 3(''!#' 3!''#8 ?#6)+8($1( #3%!3%)#%'((($1($*(%_F#%1M;3@A0S@

F#%1M,<!6!8=#1(#!6!8.$)'8!6!8!3#%1(*(.8#*)'3.1#6."!+)8)1(,#)#+L8*#

')83+(' 6!83(1)2-! 3!+>1)6# ( (6!$T8)6# ($1%( ')'1(8#' *( 3%!*.2-!@ #%# (+(; $-! =#'1#,#

')83+('8($1( 6!$,($6(% !' )$*),>*.!' *!' 8#+(?>6)!' *! 6!8.$)'8!; 8#' (%# $(6(''P%)!

3%)$6)3#+8($1( 8!'1%#%+N(' # '.3(%)!%)*#*( *# ?!%8# $!%1(#8(%)6#$# *( 6!$6(32-! *!

8.$*!@

#%##1.#%$(''#*)'3.1#(%#)$*)'3($'P,(+6!$N(6(%!'3!,!'K.('(K.(%1!%$#%?)L)'@

#+ 1#%(?# ?!) $!8(#*# 3!% )6#%*! #+,#1!%( ; 3@0 ( '(&.)$1(' 6!8! ^($1(%3%)'( !?

/\

$!%1(#8(%)6#$#' (8 3%!*.M)% 6!$N(6)8($1! '!=%( # 8L%)6# #1)$# 3#%# 6!$'.8! $!

8(%6#*! #8(%)6#$! 1#$1! #! $>,(+ *! 6)*#*-! 6!8.8; 6!8! (8 $>,(+ &!,(%$#8($1#+@

!$N(6(%!'3!,!'+#1)$!#8(%)6#$!';'(.'8!*!'*(,)*#;'(.'6!'1.8(';(%#1#%(?#

3#%# )$1(+(61.#)'; 3('K.)'#*!%(' #6#*<8)6!'; "!%$#+)'1#' ( 6)($1)'1#'; 8#' 1#8=L8 3#%#

8)+)1#%('(N!8($'*($(&96)!'@$?)8;.8#83+!('3(61%!*(('1.*)!'!',!+1#,#'(.'!+N!'

3#%#!'.+*!6!$1)$($1(!="(1),#$*!($1($*<+!;3#%#*(''#?!%8#;8(+N!%6!$1%!+P+!@!8!

3%('1>&)! *# 6)($1)?)6)*#*(; 1#)' )$?!%8#2:('; +!&! '( 6!+!6#,#8 #6)8# *!' 6!$N(6)8($1!'

1%#*)6)!$#)'; *(''# ?!%8#; 3!*($*! '(% 6!$'.8)*#' )$1(%$#8($1( 3(+! 3Q=+)6! $!%1(

#8(%)6#$!;3(+!'?!%8.+#*!%('*#3!+>1)6#$!%1(#8(%)6#$#3#%##%(&)-!(;8#)')83!%1#$1(;

3!*(%)#8 '(% %()$1%!*.M)*#' $#K.(+( ('3#2!; '(%,)$*! 6!8! =#'( 3#%# K.( !' 3!,!' +#1)$!'

*('($,!+,(''(8$!,#'3(%6(32:(''!=%(')8('8!';!%)($1#*#'3(+!!+N#%('1%#$&()%!@

!.1%# ?#6( *# 8!(*# $(''( 3%!6(''! (%# # *)?.'-! *(''( 6!$N(6)8($1!@ (''(

#'3(61!; ! *('($,!+,)8($1! 1(6$!+9&)6! "!&!. .8 3#3(+ )83!%1#$1(; 3(%8)1)$*! '.#

*)'1%)=.)2-!8#6)2#*()$?!%8#2:('#1%#,L'*("!%$#)'(%(,)'1#'@

!8 =#'( $(''( #%6#=!.2! *( )$?!%8#2:(' ( 6!$6()1!'; &(%#,#8'( $!,!' *)'6.%'!'

'!=%(#8L%)6##1)$#;($1%(1#$1!;.8?#1!%3(%')'1($1($(''#'$#%%#1),#'L#*)6!1!8)#($1%(

#6),)+)M#2-!(#=#%=P%)(@#'3%)8()%#'*L6#*#'*!'L6.+!BB;!%(+#6)!$#8($1!($1%(!'

( #' %(3Q=+)6#' +#1)$!#8(%)6#$#' (%# 8#%6#*! 3(+# 6%($2# *( K.( ($K.#$1! !'

%(3%('($1#,#8#+)=(%*#*(;#*(8!6%#6)#;!3%!&%(''!(6!$T8)6!(#,)%1.*(;!'3!,!'+#1)$!'

(%#8 #.1!%)1P%)!'; #$1)*(8!6%P1)6!'; (6!$!8)6#8($1( #1%#'#*!' ( 6!%%.31!'; !. '("#

%(3%('($1#,#8!$(&#1),!*#6),)+)M#2-!$!%1(#8(%)6#$#@!3)$)-!*(`!N$E.)$6O*#8';

($1-!(6%(1P%)!*('1#*!$!%1(#8(%)6#$!'!=%(#'%(3Q=+)6#' %(6L8)$*(3($*($1(')+.'1%#

6+#%#8($1(;"P(8 /;(''#,)'-![

/

'!=%(1.*!;(81!*#'#')$'1)1.)2:('@*)''($'-!6),)+)$?)+1%#1!*!'!'3%)$6>3)!''(8)$#)'@ .(%%# ( *('1%.)2-! 8Q1.# ('1-! 3%('($1(' (8 6#*# (+(8($1! *# !%&#$)M#2-!; 8!%#+; 3!+>1)6#(?>')6#S_@

$(&#1),)*#*(3%('($1($#*('6%)2-!?()1#3!%*#8'3!*('(%)&.#+8($1(,(%)?)6#*#

$# #,#+)#2-! ?()1# 8#)' *( .8 'L6.+! *(3!)' 3!% (!%&( Z($$#$; ($1-! #1.#$*! 6!8!

6!$'(+N()%!*! (3#%1#8($1!*('1#*!*!''1#*!'$)*!'[

# 8L%)6# #1)$# ! %(6!$N(6)8($1! '.=6!$'6)($1( *! ?%#6#''! *! ('?!%2! *! &%.3!($6!$1%#'.#(73%(''-!$.8#.1!6($1%#8($1!((&!>'8!(7#&(%#*!'C$.8#3#1L1)6# $(6('')*#*(*(6%)#%#)+.'-!*(6!%#&(8*('('3(%#*#;'.3%(8#('3(%1(M#(.8#,)%)+)*#*( '(8 +)8)1(' !$*( #' ,)%1.*(' 8#)' 6!$'1%.1),#' '-! !'1($'),#8($1( #.'($1('@ d@@@e 3#%(6( )83%!,P,(+ K.( 3!''# N#,(% #+&.8# !.1%# %(&)-! *# 1(%%# !$*( # $#1.%(M# ( ! 6!83!%1#8($1! N.8#$! 3.*(''(8 1(% '( 6!8=)$#*! 3#%# 3%!*.M)% .8 6 8#)' )$?(+)M('(8('3(%#$2#3#%##6!$*.1#*#,)*#N.8#$#*!K.($#8L%)6##1)$#Z($$#$ #3.*N!.+1M;!3@6)1@A@

3('#% *# &%#$*( *)'1c$6)# (7)'1($1( $! 1(83! ($1%( #' *.#' #?)%8#2:('; ,<'( K.(

(7)'1(6!$1)$.)*#*(($1%(#8=#'@*('3()1!*#'!'6)+#2:('!6!%%)*#'$#!%)($1#2-!*#3!+>1)6#

$!%1(#8(%)6#$# 3#%# # %(&)-!; 3(%8#$(6(. # )*L)# *# )$6#3#6)*#*( *!' 3!,!' +#1)$!

#8(%)6#$!'3#%#!#.1!&!,(%$!;#*(8!6%#6)#(!*('($,!+,)8($1!(6!$T8)6!;,)'-!(''#

=#'(#*# $! K.( 6N!.+1M 6N#8# *([ ^.8# ('1%.1.%# 8($1#+ *!8)$#*# 3!% 6%($2#' '.="#6($1('K.(!'?.$6)!$P%)!'*!'1<8'!=%(!'+#1)$!#8(%)6#$!'(;('3(6)?)6#8($1(;

3!% '.# 6%($2# *( K.( !' +#1)$!#8(%)6#$!' '-! .8 3!,! )$?(%)!%_ *(8; 3@A@ #+

('1%.1.%# 1#8=L8 3!*( '(% !='(%,#*# (8 ('1.*)!'!' *#' %(+#2:(' ($1%( '1#*!' $)*!' (

8L%)6##1)$#;#(7(83+!*!1%#=#+N!*(F#%%)'!$\;$!K.#+#*)?(%($2#?.$*#8($1#+

($1%(#3%!'3(%)*#*($!%1(#8(%)6#$#(6#$#*($'((!'.=*('($,!+,)8($1!+#1)$!#8(%)6#$!L

#3%(,#+<$6)#*#6.+1.%#(*!',#+!%(')=(%!6#19+)6!'$('1('Q+1)8!'@

/

(&.$*! #%W ; 5(%&(% /000; 3@S; ! ('1#=(+(6)8($1! *! 3#$#8(%)6#$)'8! 6!8!

6!%%($1( 3!+>1)6# ( )$1(+(61.#+ %(+(,#$1( $! 6($P%)! $!%1(#8(%)6#$! #".*!. # #8($)M#% (''#

6%($2#(!('1#=(+(6)8($1!*!5.%(#.!8(%6)#+*#'(3Q=+)6#'8(%)6#$#'#! ?)$#+*#D

!$?(%<$6)# $1(%$#6)!$#+ 8(%)6#$# 0 ?!) )83!%1#$1( 3#%# #".*#% # *#%

,)')=)+)*#*(#.8#!3)$)-!8#)'?#,!%P,(+#!'3!,!'+#1)$!#8(%)6#$!';=#'(#*#$#)*L)#*#

(7)'1<$6)#*(.8#N)'19%)#(*(.8*('1)$! 6!8.$'#!'#8(%)6#$!'*!$!%1((*!'.+;'(8;

($1%(1#$1!;6!$'(&.)%'.='1)1.)%)$1()%#8($1(!3!')6)!$#8($1!%(3%('($1#*!$#?#+#*(*#8'@

*)'6.%'! 3#$#8(%)6#$! 1%!.7( .8# $!,# %!.3#&(8 #! %(+#6)!$#8($1! ($1%( !'

( # 8L%)6# #1)$#; ($?#1)M#$*! # 6!!3(%#2-! ($1%( '1#*!' ( #=%)$*! ('3#2! 3#%#

*)'6.%'!' K.( 3%!6.%#,#8 %(3%('($1#% #' %(3Q=+)6#' *! '.+ 6!8! ^+!6#)' *( )$,('1)8($1!

3!1($6)#+8($1(+.6%#1),!3#%#!')$,('1)*!%('$!%1(#8(%)6#$!'_#+,#1!%(; ;3@ @

6($1%!(!'.+*!6!$1)$($1(3#''#%#8*(+.&#%(''(8+()#1(%%#'*(!3!%1.$)*#*(';1#$1!3#%#

$(&!6)#$1('K.#$1!3#%#3('K.)'#*!%('*#'8#)',#%)#*#'('3(6)#+)*#*(';#!8('8!1(83!(8

K.( 3(%8#$(6)# ! 6!$1%#'1( ($1%( ! #$1)&! ( ! $!,!; %(3%('($1#*! $# !3!')2-! ($1%( #'

(73(61#1),#' ?.1.%#' =#'(#*#' $# 3!1($6)#+)*#*( *!' 8(%6#*!' +#1)$!#8(%)6#$!' ( #

6!$1(83+#2-! *#' &+9%)#' 3#''#*#' *#' 6),)+)M#2:(' 3%L6!+!8=)#$#'@ ''# 6!$1%#*)2-! L

8#%6#$1($#'3P&)$#'*(;6!8!,(%(8!'$!'6#3>1.+!''(&.)$1('@

.%#$1(#'*L6#*#'*(A0(0*!'L6.+!3#''#*!;N!.,(.8#'L%)(*()$)6)#1),#'*!

&!,(%$!$!%1(#8(%)6#$!3#%#('1%()1#%!'+#2!'6!8!'3!,!'*!'.+$!6#83!6.+1.%#+@$1%(

$9'; #' 8#)' ('1.*#*#' '-! #' )$6.%':(' ?()1#' $! 8()! 6)$(8#1!&%P?)6! ( (*)1!%)#+ '!= #

%('3!$'#=)+)*#*( *! ??)6( !? 1N( !!%*)$#1!% !? $1(%#8(%)6#$ ??#)%'; 1#8=L8

6!$N(6)*!6!8!5.%(#.$1(%#8(%)6#$!@6#83!*(#1.#2-!*!5.%(#.(%#=#'1#$1(#83+!;

8#''.#'#1),)*#*('?!%#86!$6($1%#*#'$!'6#83!'*#)$?!%8#2-!(*#6.+1.%#;#*!1#$*!!

3#$#8(%)6#$)'8! 6!8! ?!%8# *( *)'6.%'! .$)?)6#*!% *!' 3!,!' *! '.+ ( *! $!%1( *!

A0

; 3@ ///A@ )$*# '(&.$*! !.%#; ! 1%#=#+N! *! 5.%(#. (%# 6!$'1%.)% # )8#&(8 *!'

6!8!.8(7(83+!*(=!8?.$6)!$#8($1!3!+>1)6!;(6!$T8)6!('!6)#+#'(%'(&.)*!3!%

1!*#' #' %(3Q=+)6#' *! 6!$1)$($1(U (%# .8 8!*(+! )*(#+@ ' %(+#2:(' *( '!+)*#%)(*#*(

6!$'1%.>*#' (8 1!%$! *! )*(#+ 3#$#8(%)6#$! (%#8 ^! 6)8($1! *! ')'1(8# *( 3!*(% K.(

Y#'N)$&1!$('1#,#8!*(+#$*!$!6!$1)$($1(_)*(8;3@/S/@

'3.=+)6#2:('*#$)-!#$8(%)6#$#1)$N#8?.$2-!')8)+#%;(8=!%##)$*#'("#8

3!.6! ('1.*#*#'@ #%1( )83!%1#$1( *# 6!$'1%.2-! *! 3#$#8(%)6#$)'8! (%# *)?.$*)% #' '.#'

%(#+)M#2:(' ( 6!$K.)'1#' ( (73#$*)% ! 6!$N(6)8($1! '!=%( ! '.+ *! 6!$1)$($1(@ (&.$*!

#+,#1!%(!3@6)1@;3@ /#$)-!#$8(%)6#$#?!)3)!$()%#$#6%)#2-!*(.8#,(%*#*()%#

^)$*Q'1%)# *( )$?!%8#2-!_ '!=%( # 8L%)6# *! .+; 3#1%!6)$#$*! 3.=+)6#2:(' (8 *),(%'!'

6#83!'*(#1),)*#*((6!$T8)6#(6)($1>?)6#;=(86!8!3%!*.M)$*!8#1(%)#+(*.6#1),!'!=%(#

N)'19%)#(6#%#61(%>'1)6#'*!6!$1)$($1(@#8=L8?!%#8!%&#$)M#*#'(73(*)2:('(73+!%#19%)#'

(76+.'),#'!.(8#''!6)#2-!6!8.$),(%')*#*('(6!8##1)!$#+(!&%#3N)6!6)(1O;3#%#

('1.*!'$!'6#83!'*#%K.(!+!&)#;(!&%#?)#;(!+!&)#('1%!$!8)#3#%#%(&):('*)'1#$1('

(*('6!$N(6)*#'*!6!$1)$($1(@

(%#3#%1(*(''((83%(($*)8($1!@!8!'.6(''!%#*!5!+(1)8*#$)-!#$

8(%)6#$#;6#=(%)##(+#!3#3(+*(6!$1)$.#%6!8#*)?.'-!*(''(6!$1(Q*!;".'1)?)6#$*!#

3%('($2# 6%('6($1( *( 6#3)1#+ ( ,#+!%(' $!%1(#8(%)6#$!' $#' 1(%%#' *! '.+; 6!8 =#'( $#'

*(?)6)<$6)#' (7)'1($1(' $# %(&)-!@ '3(6)#+8($1( (8 '.# 3%)8()%# *L6#*# *( 3.=+)6#2-!; #

1(8P1)6# *# 3%!8!2-! *! *('($,!+,)8($1! '(%,). 6!8! 3%(1(71! 3#%# # ,#+!%)M#2-! *!

#8=)($1( +#1)$!#8(%)6#$! (8 ('3(6)#+ 3#%# ! )$,('1)*!% 3%),#*!; '(&.)$*! # 8('8# +)$N#

*('($,!+,)*#3(+!&!,(%$!$!%1(#8(%)6#$!?%($1(4'%(),)$*)6#2:('*!'&!,(%$!'+!6#)'@

!$1.*!;$-!'(3!*()&$!%#%K.(3!%'(%.8,(>6.+!*(6!8.$)6#2-!3%!*.M)*!3!%

.8 !%&#$)'8! 8.+1)+#1(%#+ $! K.#+ # *),(%')*#*( *( 3#>'(' ( ,)':(' '!=%( !' 1(8#'

_{!',!+.8('*!5!+(1)8*#$)-!#$8(%)6#$#;($1%(!'#$!'*( (0(%#8?%(Ka($1('!'%(+#1!'*(}

A

(6!$T8)6!'; '!6)#)' ( 3!+>1)6!' *! 3(%>!*! (%#8 # 1T$)6#; 3!% 8#)' K.( (8 3%(*!8)$#''( .8# ,)'-! ,)$6.+#*# 4 +()1.%# K.( !' %(3%('($1#$1(' $!%1(#8(%)6#$!' $#

($1)*#*( 3!''.>#8 '!=%( !' 3%!=+(8#' *# 8L%)6# #1)$#; $(8 '(83%( (+# ?!) ,(>6.+!

(76+.'),!3#%#,()6.+#2-!*!*)'6.%'!!?)6)#+;6!8!'(3!*(!='(%,#%3(+#*)'3.1#*(3!')2:('

(81!%$!*#3%!8!2-!*!*('($,!+,)8($1!(6!$T8)6!$#%(&)-!;*('6%)1#*(8!%#*#8($1((8

'.#'3P&)$#'#3#%1)%*#'(&.$*#8(1#*(*!'#$!'S0*!'L6.+!3#''#*!@

+$

E.(8(%#!+()1!%*(]''#$-!L.8#3(%&.$1#?P6)+*('(%('3!$*(%;.8# ,(MK.(!Q$)6!8()!*(#6(''!#!'(.3Q=+)6!L8(*)#*!3(+#3%93%)#%(,)'1#;!.'("#;3(+#

(2-!*(#%1#'L3!''>,(+1(%8!'.8#,)'-!#3($#'3#%6)#+*('(.'+()1!%(';3!)'6(%1#8($1(;

N#,)##+&.81)3!*('(+(2-!*#'6#%1#'#'(%(83.=+)6#*#';=(86!8!#+)8)1#2-!*!('3#2!

*)'3!$>,(+3#%#(''#6#1(&!%)#*(1(71!@

$)6)#+8($1(;!K.(3!*(8!'*)M(%#%('3()1!*!3Q=+)6!*(LK.('(1%#1#,# (8'.#8#)!%)#*(3%!?)'')!$#)'+)=(%#)';(8('3(6)#+;3%!?(''!%(';K.(,)#8$#3.=+)6#2-!.8

8#1(%)#+)$1(%(''#$1(3#%#.'!*)*P1)6!@#8=L8(%#8.)1!?%(Ka($1(#3%('($2#*(('1.*#$1('

'(6.$*#%)'1#' ( .$),(%')1P%)!'; ('3(6)#+8($1( $!%1(#8(%)6#$!'; =.'6#$*! 6!$1#1!' 6!8

)$*),>*.!'*!'3#>'('8(8=%!'*#@-!L3!''>,(+*)M(%'((''#*),(%')*#*(*(3(''!#'

(%#%(#+!.'(?#M)#3#%1(*(.8('?!%2!*#%(*#2-!(88!'1%#%#8#)!%,#%)(*#*(*(+()1!%('

3!''>,(+; .8# ,(M K.( $-! '( 1(8 #6(''! #!' *#*!' '!=%( ! 6!$".$1! *#' 6#%1#' ($,)#*#' 4

%(*#2-!@

#8=L8 '( 3!*( 1(% .8# !.1%# 3)'1# '!=%( '(. 3Q=+)6! +()1!% 6!8 =#'( $#'

)$?!%8#2:('*!'(+#19%)!'*#(6%(1#%)#(%#+@!$?!%8(1%#1#*!#$1(%)!%8($1(;*.%#$1(!'

A/

#'')$#1.%#'@ ''# 6#83#$N# '(&.). 1%#"(19%)#' *)?(%($1(' (8 6#*# %(&)-![ $!' ; #

3%!3#&#$*# *)%(1# ,)# 6!%%()! ?!) ! 8()! 8#)' .1)+)M#*!; =.'6#$*! ! 6)*#*-! 8L*)!@ #

8L%)6# #1)$#; (''(6#8)$N!#1L!+()1!%?!)8(*)#*!3!%)$'1)1.)2:('((83%('#';!.'("#;

3#%# 6N(&#% #! '(. !="(1),! ?)$#+ C ! #'')$#$1( C ),)'-! *( .=+)6#2:(' ( $?!%8#2-!

($,)#,#8#1(%)#+*(3%!3#&#$*#'!=%(3#%#(83%('#'=#$6P%)#'(?(%%!,)P%)#'; )$*Q'1%)#'; #''!6)#2:(' $#6)!$#)' *( 3%!?(''!%('; 8L*)6!'; #*,!&#*!'; )$'1)1.)2:('

(*.6#6)!$#)' ( 6)($1>?)6#'; #+L8 *( ($,)#% #$Q$6)!' '!=%( # %(,)'1# *)%(1#8($1( 3#%#

)$*),>*.!'6!$'1#$1('(8+)'1#'('3(6)#+)M#*#'@

#+ ('1%#1L&)# *( *),.+&#2-! 3(%8)1( ,(%)?)6#% K.( #! 6!$1%P%)! *! K.( !6!%%)# $!'

;!$*(#*),.+&#2-!*#%(,)'1#(%##83+#()%%('1%)1#;$#8L%)6##1)$#=.'6#,#'(.8

+()1!% 8#)' ('3(6>?)6!; .8 3Q=+)6! 8#)' K.#+)?)6#*! 3#%# ! 3#3(+ *( 8.+1)3+)6#*!% *#'

8($'#&($'*#$!)$1(%)!%*!'3#>'('+#1)$!#8(%)6#$!'@-!'(1%#1#,##3($#'*#,($*#

*(.8#3.=+)6#2-!;8#'*(?#M(%6!8K.(!*)'6.%'!3#$#8(%)6#$)'1#6N(&#''(#.83Q=+)6!

8#)!% *! K.( #K.(+( 6!$'1)1.>*! 3(+!' &!,(%$!' ( '(.' %(3%('($1#$1(' $#' )$'1c$6)#' *#

($1)*#*(@ 8# ,(M K.( &%#$*( 3#%1( *# 3!3.+#2-! +#1)$!#8(%)6#$# #)$*# $-! (%#

#+?#=(1)M#*#; (%# $(6(''P%)! ($6!$1%#% !.1%! 6#8)$N! 3#%# 6N(&#% # (''#' 3(''!#' '(8 #

8(*)#2-!*!' &!,(%$!' $#6)!$#)';'(83%(3%!3($'!'##*#31#%!*)'6.%'!#!''(.'3%93%)!'

)$1(%(''('U*(''#?!%8#; 6!$1#%6!8#')83#1)#*((+(8($1!'+!6#)'6#3#M('*()$?+.($6)#%#

!3)$)-!&(%#+1!%$#,#'()$*)'3($'P,(+@

+%

%(,)'1#1)$N#6!8!!="(1),!#1)$&)%1!*!'!'3!,!'*!6!$1)$($1(6!8#8($'#&(8

*(3#M;'(&.%#$2#(3%!&%(''!;3%('($1((81!*!'!'(7(83+#%(';".$1#8($1(6!8!(*)1!%)#+;

3(+!K.#+!(6%(1P%)!(%#+*#($1)*#*(*)%)&)#'(#'(.'+()1!%('1%#1#$*!6!$'1#$1(8($1(*(

AA

8'(.'3%)8()%!'#$!'#3.=+)6#2-!1(,(6.$N!(8)$($1(8($1(6.+1.%#+;6!8#%1)&!'

'!=%(!'NP=)1!'(6!'1.8('*!'3#>'('8(8=%!'*#%&#$)M#2-!;1(8#'N)'19%)6!';%(+#1!'*(

,)#&(8;#%K.(!+!&)#(,)*#6!1)*)#$#@3#%1)%*#'(&.$*#8(1#*(*#*L6#*#*(S0;(''('

1(8#' 3#''#8 # *),)*)% ! ('3#2! 6!8 #'3(61!' ,#%)#*!' *!' *(=#1(' (6!$T8)6!' *# %(&)-!@

!$1.*!; $!1#'( # *)'6%(1# 3%('($2# *( #%1)&!' ,(%'#$*! '!=%( 1(8#' 3!+>1)6!' #+L8 *!

3%93%)! (*)1!%)#+; K.( *.%#$1( (''( 3(%>!*! )$)6)#+ %('1%)$&(8'( 4 #3%('($1#2-! *!' $!,!'

&!,(%$#$1('*!'3#>'('8(8=%!'('(.'(8=#)7#*!%('$#@3!+>1)6#6!$1)$($1#+'9)%P

&#$N#%*(?)$)1),#8($1(#'3P&)$#'*(8L%)6#'#39'#,)19%)#*#(,!+.2-!.=#$#;(8S@

'1(71!'K.(6!83.$N#8#%(,)'1# (%#8 ('6%)1!';(8&(%#+;3(+#(K.)3(*(%(*#2-!

'(*)#*# (8 Y#'N)$&1!$; ?!%8#*# 3!% "!%$#+)'1#' 3%!?)'')!$#)'@ +L8 *(''('; 6#*# (*)2-!

1#8=L8 1%#M)# .8 6!$".$1! *( 6!+#=!%#*!%(' !%).$*!' *!' *),(%'!' 3#>'(' *! 6!$1)$($1(;

&(%#+8($1( )$1(+(61.#)'; #6#*<8)6!' ( 6)($1)'1#'; =(8 6!8! ?.$6)!$P%)!' *( #&<$6)#' (

!%&#$)M#2:(')$1(%$#6)!$#)'!.*#3%93%)#;(8,)#&(8@

'#%1)&!'(%#8')83+('(*(?P6)++()1.%#;6!8+)$&.#&(86+#%#(!="(1),#@#%#(,)1#%

K.(!+()1!%'('($1)''(('&!1#*!6!8#+()1.%#*(.81(71!+!$&!;)$)6)#+8($1(1!*!'!'#%1)&!'

(%#8*),)*)*!'()$1(%6#+#*!';*(8#$()%#K.(!+()1!%3.*(''(#+1(%$#%($1%(!'1(8#'1%#1#*!'

# 6#*# 1%<' !. K.#1%! 3P&)$#'@ #+( +(8=%#% K.( (''# ('1%#1L&)# 1#8=L8 (%# .1)+)M#*# (8

!.1%!',(>6.+!'*(+()1.%#3!3.+#%;#(7(83+!*#%(,)'1#7 8;6!$N(6)*#$!5%#')+ 6!8!9 7 8 `.$K.()%#; /000; 6#3@ ; 6!8 ! !="(1),! *( &#%#$1)% # +()1.%#)$1(&%#+*#3.=+)6#2-!@

.1%! #'3(61! K.( 6N#8# # #1($2-! L # %)K.(M# *( )+.'1%#2:(' 3%('($1(' $# %(,)'1#@

!*#'#'%(3!%1#&($'(%#8)+.'1%#*#'6!8&%#,.%#';8#3#';K.#*%!'(73+)6#1),!'!.?!1!'K.(

3!*)#8 !6.3#% 3(K.($!' K.#*%!' !. #1L 8('8! # 3P&)$# )$1()%# *! #%1)&!; #1%#)$*! 8#)'

?!%1(8($1(#1($2-!*!+()1!%(;8.)1#',(M(';?.$6)!$#$*!$-!#3($#'6!8!8(%#)+.'1%#2-!;

A

('1#,#8 3%('($1(' $#' 6#3#' ( 6!$1%#6#3#' *#' (*)2:('; '(83%( =#'1#$1(' 6!+!%)*#'; *(

8#$()%##1!%$P+##1%#($1(3#%##,($*#$#'=#$6#'@

8(7(83+!*!K.#$1!!#'3(61!,)'.#+(%#,#+!%)M#*!$#3.=+)6#2-!L#%(3!%1#&(8

*# (*)2-! *( 8#%2! *( S/ # %('3()1! *# 6#83#$N# *( )$6($1),! 4 +()1.%# 3%!8!,)*# (8

*),(%'!' 3#>'(' '.+#8(%)6#$!' 3(+# 6!8 ! #3!)! *# @ 8#1L%)# (%# 6.%1#;

6!83!'1#3!%#3($#'1%<'3P&)$#';'($*!.8#)$1()%#8($1(1!8#*#3!%)+.'1%#2:('@!6#'!;

%(3%!*.2:('*!8#1(%)#+*)*P1)6!3%!*.M)*!3#%##6#83#$N#;6."!1(8#(%#$#*#8#)';$#*#

8($!' K.( # ,)*# *( =%#N#8 )$6!+$@ !="(1),! )$)6)#+ *! 3%!"(1! (%# #+?#=(1)M#% #

3!3.+#2-!%.%#+$!)$1(%)!%*!L7)6!(#3#%1)%*#>;(73#$*)%3#%#!.1%#'+!6#+)*#*('@

#8=L8L)$1(%(''#$1(!='(%,#%!1>1.+!*#*!#!8#1(%)#+[5 @ ; #! ('6!+N(% .8# ?)&.%# 1-! (8=+(8P1)6# 3#%# ('1#83#% # 3.=+)6#2-!; *()7#,# 8.)1!

6+#%##)$1($2-!*(.'#%#?)&.%#*(.8>6!$(*#N)'19%)#$!%1(#8(%)6#$#6!8!(7(83+!*(

6!$*.1#;*#*##'.#6!$N(6)*#1%#"(19%)#*(#.1!*)*#1#((7(83+!*(%( ;6#3#M*( '#)%*('.#6!$*)2-!*(+($N#*!%#$#+?#=(1!(6N(&#%43%(')*<$6)#*#%(3Q=+)6#@`.$1#$*!(''(

>6!$( #! 1(%8! *(8!6%#6)#; ?.$*)#8'( *!)' (+(8($1!' 8.)1! 6#%!' 4 6.+1.%# *!' @

%#1#,#'(*#*)?.'-!*(,#+!%('$!%1(#8(%)6#$!'($1%(#K.(+#3!3.+#2-!@

AS

%(,)'1#%#%#8($1(?#M)##+&.8#%(?(%<$6)#(8%(+#2-!#!6!$1(71!3!+>1)6!*!

3(%>!*!C#?#'(8#)'#&.*#*#.(%%#%)#@1#8=L8$-!(%#C#1L($1-!C.8# %(,)'1# 8#%6#*#8($1( #$1)6!8.$)'1#@ !%L8; #+&.$' *( '(.' #%1)&!' 6N#8#,#8 #

#1($2-!8#)'3!%'(.'1>1.+!'=!8=P'1)6!'#+.'),!'#!6!8.$)'8!*!K.(3%!3%)#8($1(

3!% '(. 6!$1(Q*!@ 8 *(''(' 6#'!' ?!) ! 1(71! ('6%)1! 3(+! (*)1!% #'')'1($1( (!%&(

!831!$(86!+#=!%#2-!6!8+?!$'!#%(+#C.8($1!8!+!&)'1#8(7)6#$!)$1(&%#$1(

*# ),)'-!*(&%)6.+1.%#*#C6."!1>1.+!(%#[^8(#2#*!('1(_@#''.$1!]

*)''(8)$#2-! *( .8# 3%#&# $#' 3+#$1#2:(' *( ?%.1#' 3!% 6!$1# *( .8# 8!'6# *(

!%)&(8 !%)($1#+; +(,#*# 3!% 8)+)1#%(' $!%1(#8(%)6#$!' *# %(&)-! *! 3#6>?)6! 3#%# !

F#,#>(;*(+P;3#%#!6!$1)$($1(@\

J 3!''>,(+ ,(%)?)6#% *!)' 8!8($1!' =#'1#$1( *)'1)$1!' (8 %(+#2-! 4' 1(8P1)6#'

#=!%*#*#' 3(+# %(,)'1#@ 8 '(.' 3%)8()%!' #$!' S '.#' 8#1L%)#' ,(%'#,#8

K.#'( K.( (76+.'),#8($1( '!=%( 1(8#' *( 6#%P1(% N)'19%)6! ( 6.+1.%#+ C 6!$?!%8(

(73!'1!$!)$>6)!*('1('.=)1(8C($1%(1#$1!;#*)$c8)6#*#,)*#3!+>1)6#((6!$T8)6#*#

%(&)-!?!)3%!&%(''),#8($1(#=%)$*!('3#2!$#'3P&)$#'*(8L%)6#'@

A

(''( '($1)*!; ! 8!8($1! 6%.6)#+ ?!) # (.$)-! *( !$'.+1# *( )$)'1%!' *(

(+#2:('71(%)!%('%(#+)M#*#(8S$!6!$1(71!*#)$1(%,($2-!$!%1(#8(%)6#$#$#

.(%%# *# !%L)#@ # !6#')-! # *(+(&#2-! $!%1(#8(%)6#$# )$,!6# ! %#1#*!

$1(%#8(%)6#$!*('')'1<$6)#(6>3%!6#6!8!!="(1),!*(!=1(%#3!)!8)+)1#%

*!' !.1%!' 3#>'(' 8(8=%!'; 3!')2-! %(3(+)*# K.#'( K.( .$#$)8(8($1( 3(+!'

3#%1)6)3#$1('; K.( #3%!,()1#%#8 # !3!%1.$)*#*( 3#%# #3%('($1#% '.#' %(),)$*)6#2:(' *(

#3!)!(6!$T8)6!3!%3#%1(*!&!,(%$!*!'3#%#!*('($,!+,)8($1!(6!$T8)6!$#

%(&)-!@

3#%1)%*(''(8!8($1!;!'(*)1!%('*(3#''#%#8#*#%6#*#,(M8#)'

6!=(%1.%#3#%#!'3%!=+(8#'(6!$T8)6!'*#8L%)6##1)$#C(8=!%#1#8=L81%#1#''(

!6#')!$#+8($1(*(K.('1:('(6!$T8)6#'&+!=#)'C(8#%1)&!'('6%)1!'3!%6!+#=!%#*!%('

*# %(,)'1#; (*)1!%)#)' *! (6%(1P%)! (%#+ ( *( (8=#)7#*!%(' *!' 3#>'(' 8(8=%!' *#

; #+L8 *( .8# 6!+.$# ('3(6>?)6# '!=%( (6!$!8)# (*)1#*# )$)$1(%%.31#8($1( *(

$!,(8=%! *( SA # *(M(8=%! *( S ( 6.+8)$#$*! 6!8 # #83+# ,)')=)+)*#*(

6!$?(%)*#4'8(*)*#'%(+#6)!$#*#'4)83+#$1#2-!*#3(%#2-!#$8(%)6#$#@

('1( 3!$1! !6!%%(. .8# $!,# ,)%#*# $# 6!$".$1.%# 6!$1)$($1#+ K.( %(*.$*!.

(88.*#$2#'$#+)$N#(*)1!%)#+*(8L%)6#'@

#3#''#&(8*(S 3#%#S!'%(,!+.6)!$P%)!'6.=#$!'+)*(%#*!'3!%)*(+

#'1%!6N(&#8#F#,#$#(*(3:(8!*)1#*!%.+&<$6)!5#1)'1#;)$'1#+#$*!.8&!,(%$!

*( 6#%P1(% $#6)!$#+)'1# ( 3!3.+#% K.( )8(*)#1#8($1( *('3(%1!. # *('6!$?)#$2# $!%1(

#8(%)6#$#@ ,)19%)# *# (,!+.2-! .=#$# 1%!.7( # 3%(!6.3#2-! 6!8 ! #,#$2! *!

6!8.$)'8! $!,#8($1( 3#%# ! )$1(%)!% *!' *(=#1(' *# ; K.( #1L ($1-!; 1%#1#%# #

K.('1-!6!8!.8#3!'')=)+)*#*(*(%(#+)M#2-!3!.6!3%!,P,(+*(,)*!#!#+1!$>,(+*(

6!+#=!%#2-! 3!+>1)6# #1)$&)*# ($1%( !' &!,(%$#$1(' *!' 3#>'(' 8(8=%!'@ !8 !'

A\

6#'1%)'1#'$!3!*(%;1)$N#'(.8#$!,#')1.#2-!$#'8-!'($-!N#,)#6!8!)&$!%#%#'

)83+)6#2:('3!+>1)6#'*(1#+?#1!3#%#!')'1(8#)$1(%#8(%)6#$!@ (''#?!%8#;($1%(S

( ;#''.8).#1#%(?#*(#=!%*#%#'3%)$6)3#)'*)'6.'':('3!+>1)6#'('!6)#)' *!6!$1)$($1(;6!8('3(6)#+#1($2-!4'8(*)*#'$(6(''P%)#'3#%#!6!8=#1(4'#&%('':('

6!8.$)'1#'@

!'6#3>1.+!'K.('('(&.(8(''(3%!6(''!L1%#1#*!;3%!6.%#$*!'(*(8!$'1%#%

6!8! #' 1($':(' (7)'1($1(' $! ')'1(8# )$1(%#8(%)6#$! %(?+(1)#8 $# (;

6!$'(Ka($1(8($1(;(8@

A

,-#

!./0

#+1

*L6#*# *( S0 ?!) 6!$')*(%#*# 6!8! .8# ('3L6)( *( ^%# *( .%!_ 3(+!'

%(*#1!%(' *( @ !8 ! ?)8 *# .(%%# .$*)#+ ( # 6!$'!+)*#2-! *#' )$'1)1.)2:('K.(?#M(83#%1(*!')'1(8#)$1(%#8(%)6#$!;6!$'1)1.).'($!6!$1)$($1(.8#

,(%'-!8)6%!*!')'1(8#*#'#2:('$)*#';6#3)1#$(#*#3(+#@#%#!'*)%)&($1('

*# ($1)*#*(; *!)' 3%)$6>3)!' *(,)#8 &.)#% !' 3($'#8($1! ( #' #2:(' *( 1!*! !

6!$1)$($1([*('($,!+,)8($1!(6!$T8)6!(*(8!6%#6)#@

K.); 3%(1($*('( 8!'1%#% # #1.#2-! *# %(,)'1# *.%#$1( # *L6#*# *( S0;

#$#+)'#$*!!'1(8#'1%#1#*!'$#''.#'(*)2:('(86!83#%#2-!6!8!6!$1(71!N)'19%)6!;

*#$*! <$?#'( 4' 3%)$6)3#)' K.('1:(' '.%&)*#' $!' 3+#$!' 3!+>1)6! ( (6!$T8)6!;

3%!6.%#$*! *('1#6#% ! 3!')6)!$#8($1! !. # !8)''-! *# 3.=+)6#2-! ?%($1( # 1#)'

#6!$1(6)8($1!'@

?)$#+*#.(%%#.$*)#+&(%!.(73(61#1),#'$#8L%)6##1)$#(8%(+#2-!

#! #3!)! K.( '(%)# !?(%(6)*! 3(+! &!,(%$! $!%1(#8(%)6#$! 3#%# # 3%!8!2-! *!

*('($,!+,)8($1! (6!$T8)6! +!6#+@ !1#*#8($1( $! 6#'! *! 5%#')+ (''#' (73(61#1),#'

(%#8=#'1#$1((+(,#*#';3!%6!$1#*#6!+#=!%#2-!=%#')+()%#3#%#6!8!'+)#*!'(%,!

b5.($!;/00/;3@/\0@

$1%(1#$1!;*#3#%1(*!&!,(%$!$!%1(#8(%)6#$!;#*)%(1%)M3%)$6)3#+(%#K.(!'

A

($1-!#1!%$#%'(#3%)$6)3#+?!$1(*(6#3)1#+3#%#)$,(%'-!$!'3#>'('+#1)$!#8(%)6#$!';

.8# ,(M K.( !' ?.$*!' ('1#1#)' $!%1(#8(%)6#$!' *( ($1-! ('1#,#8 '($*! .1)+)M#*!'

3%)!%)1#%)#8($1(3#%#?)$#$6)#%#%(6!$'1%.2-!*#.%!3#(*!`#3-!;6!8!3#%1(*('.#

('1%#1L&)#&+!=#+*(6!8=#1(4)$?+.<$6)#'!,)L1)6#)M($1)$);S;3@AS@

(&.$*!(6(K.)+!!3@6)1@;3@/\;##$P+)'(*#3!+>1)6#(71(%$#$!%1(#8(%)6#$#

(%# K.( # 8L%)6# #1)$# N#,)# *()7#*! *( *('(83($N#% .8 3#3(+ %(+(,#$1( 3#%# !'

)$1(%(''(' &+!=#)' *! 3#>'; 3!%1#*!% *( 8#)!%(' %('3!$'#=)+)*#*(' (8 $>,(+

)$1(%$#6)!$#+; .8# ,(M K.( ^d@@@e ('1#$*! '!= # +)*(%#$2# )$6!$1('1P,(+ *!' '1#*!'

$)*!'; $-! ?!) 3(%6(=)*# 6!8! .8# P%(# *( %)'6! !. 3%)!%)1P%)# *! )$1(%(''( $!%1(

#8(%)6#$!; K.( '( *(*)6!. # =#%%#% ! #,#$2! '!,)L1)6! (8 !.1%#' +!6#+)*#*('_@ )$*#

'(&.$*! (6(K.)+! )*(8; 3@ /; ! 3(%>!*! L 8#%6#*! 3!% .8 ^6%('6($1(

*)'1#$6)#8($1!($1%(!'('(.'3#%6()%!'+#1)$!#8(%)6#$!'_K.(%(6.#%)##3($#'#

3#%1)%*!?)$#+*#*L6#*#*(S0@

$1%(S0(S;#='!%,(.(%(3%!*.M).8.)1!*!*(=#1((81!%$!

*# 3%!8!2-! *! *('($,!+,)8($1! (6!$T8)6! $# 8L%)6# #1)$#; 1%#$'3#%(6($*!

6+#%#8($1( # ,)'-! $!%1(#8(%)6#$# *# K.('1-!@ !% !.1%! +#*!; !' &!,(%$!' +!6#)'

'!.=(%#81#8=L8.1)+)M#%!('3#2!*#3.=+)6#2-!6!8!8()!*(3%('')!$#%!&!,(%$!

*!' ( # 3%93%)# # #1($*(% '.#' %(),)$*)6#2:(' 6!8 #' 8#$)?('1#2:('

%(6!%%($1('*('(.'%(3%('($1#$1('$#($1)*#*(@

.%#$1( (''( 3(%>!*! # 3%!8!2-! *! *('($,!+,)8($1! (6!$T8)6! &#$N!.

1#8#$N#%(+(,c$6)#3#%#!6!$".$1!*!'3#>'('+#1)$!#8(%)6#$!';K.(#'8#1L%)#'K.(

*('1#6#,#8!'3%!=+(8#'*()$?%#('1%.1.%#(#'!=%#'(3%!"(1!'K.(3!*(%)#8#".*#%#

'.3(%P+!'('1#,#83%('($1('(83%#1)6#8($1(1!*!'!'$Q8(%!'3.=+)6#*!'@!?)$#+*#

*L6#*#; 6!8 ! +#$2#8($1! *# 3(%#2-! #$8(%)6#$#; 3%!3!'1# 3(+! 3%(')*($1(

0

6!$*)2:('8#1(%)#)'*!'3!,!'#8(%)6#$!'3#''!.#'(%1%#1#*#6!8!8(*)*#3%(,($1),#

#!#,#$2!*!'8!,)8($1!'%(,!+.6)!$P%)!'$#%(&)-!@

(&.)$*!#+)$N#*(%#6)!6>$)!*('($,!+,)*#3(+! (3#%1#8($1!*('1#*!*!'

; 3%),)+(&)!. !' %(+#1!' *( (83%(($*(*!%(' 3%),#*!' '!=%( '.#' (73(%)<$6)#' *( ($%)K.(6)8($1! $! 6!$1)$($1(@ 8 '.# 8#)!%)# (%#8 (83%('P%)!' K.(

($6!$1%#%#8 !3!%1.$)*#*(' (6!$T8)6#' ( K.( 3%!6.%#%#8 .1)+)MP+#' 6!8! (7(83+!

3#%# K.( !' 3!,!' +#1)$!#8(%)6#$!' 3.*(''(8 (+(' 8('8!' *('($,!+,(% '.#'

(6!$!8)#'; (8 .8# ('3L6)( *( ')'1(8# *( #.1!#".*#; (8 6!$1%#3!$1! 4' 6!$'1#$1('

%(),)$*)6#2:('+!6#)'3!%)$,('1)8($1!'3Q=+)6!'*!&!,(%$!$!%1(#8(%)6#$!$#%(&)-!@

' 3%!"(1!' *( 6!!3(%#2-! 1L6$)6#; *( ($')$!; *( 1%()$#8($1! *( 3(''!#+ 1L6$)6! 3#%#

#&%)6.+1.%# ( 3(6.P%)# *('($,!+,)*!' 3(+# $! 6!$1)$($1( (%#8 #83+#8($1(

*),.+&#*!'$#%(,)'1#6!8!3#%1(*#'6!$K.)'1#'*!#$#8(%)6#$)'8!3#%##%(&)-!@

8L%)6# #1)$#(%#1%#1#*#6!8!.8#('3L6)(*(^)+N#*(3%!'3(%)*#*(_;$#

K.#+1!*!(83%(($*(*!%6!%#"!'!3!*(%)#!=1(%=!$'%('.+1#*!'@)83!%1c$6)#*#*##!'

)$,('1)8($1!' 3%),#*!' (%# 3#%1( 6!83!$($1( *# %(19%)6# *! 3#$#8(%)6#$)'8!; '!=%(

6!8! # %(3%!*.2-! *( (73(%)<$6)#' '.3!'1#8($1( =(8 '.6(*)*#' $!' 3!*(%)#8

=($(?)6)#% # %(&)-! 6!8! .8 1!*!@ (''( %('3()1!; 8)+O !'($=(%& N()$)$; /000; 3@ \0 #?)%8# K.( ! 6!83!$($1( (6!$T8)6! *! 3#$#8(%)6#$)'8! 3!*( '(%

*(?)$)*!6!8!^+)=(%#+*('($,!+,)8($1)'8!_ ;#!*(?($*(%#

3%!8!2-! *! *('($,!+,)8($1! *#' (6!$!8)#' +#1)$!#8(%)6#$#' 6!8 =#'( (8

)$,('1)8($1!'('1%#$&()%!';+),%(8(%6#*!(#=(%1.%#6!8(%6)#+@

$1%(1#$1!; N()$)$ )*(8; 3@ \ 1#8=L8 #?)%8# K.( #! '( 6!83#%#% 1#)'

#?)%8#2:('6!8!%(&)'1%!N)'19%)6!;3!*('(3(%6(=(%#')$6!$&%.<$6)#'(7)'1($1('($1%(

!K.('(3%!3.$N#6!8!3!+>1)6#3#%##8L%)6##1)$#(#(73(%)<$6)#*#%(3Q=+)6#*!

3P1%)# ( ! =#'1)-! *! 8!*(%$! 3%!1(6)!$)'8!_; #39' #,#+)#% !' (?()1!' *#' 3!+>1)6#'

1#%)?P%)#' *! 'L6.+! BB '!=%( # )$*.'1%)#+)M#2-! *! 3#>' ( 6!$6+.) K.( '(8 (''#

3%!1(2-!; ^6(%6# *( 8(1#*( *#' )$*Q'1%)#' 1<71()' *# !,# $&+#1(%%# 1(%)#8 )*! 4

?#+<$6)#_)*(8;3@\@

#%#3%(')*($1('6!8!!=%#')+()%!.%)6!#'3#% .1%#;!')$,('1)8($1!',)%)#8

6!8! %(1%)=.)2-! 4 6!$1%)=.)2-! *!' 3#%6()%!' '.+)'1#' 3#%# ! ?!%1#+(6)8($1! $!%1(

#8(%)6#$!$!6($P%)!)$1(%$#6)!$#+;1#+6!8!$#!%)($1#2-!*#*#4*)3+!8#6)#=%#')+()%#

3#%# K.( ('1# '(&.)''( ! ,!1! $!%1(#8(%)6#$! $# K.('1-! *! )$&%(''! *# (3Q=+)6#

!3.+#%*#N)$#$#5.($!((%,!;!3@6)1@3@/\/@

8/S*(".$N!*(S;#!%L)#*!!%1(#1#6#!1(%%)19%)!'.+6!%(#$!;#1!

3(%6(=)*! 3(+!' $!%1(#8(%)6#$!' 6!8! .8 #1! *( #&%(''-! #! 8.$*! +),%(; .8

8!,)8($1!'!,)L1)6!(8*)%(2-!4(73#$'-!*('(.3!*(%)!@'1!8#%#8*),(%'#'

)$)6)#1),#'6!8!%('3!'1##1#+')1.#2-!;($1%(#'K.#)';#'!+)6)1#2-!".$1!#!!$'(+N!

*#3#%##%(.$)-!*('(.9%&-!*(6!$'.+1##(.$)-!*!')$)'1%!'*((+#2:('

71(%)!%(' 6!8 ! !="(1),! *( +(,#% # *)'6.''-! '!=%( #' )83+)6#2:(' *# #&%(''),)*#*(

6!8.$)'1#3#%##'(&.%#$2#6!$1)$($1#+[

^6!8.$)'8!+(,!.!''1#*!'$)*!'##*!1#%.83+#$!*(8!=)+)M#2-! (6!$T8)6#(#3(*)%4'$#2:('+#1)$!#8(%)6#$#';3!%8()!*#(.$)-!*(!$'.+1#; K.(3.'(''(81#8=L8(83%P1)6#8(*)*#'#6!3+#*#'4'*)%(1%)M('3!%(+('1%#2#*#'@ d@@@e &!,(%$! =%#')+()%! '($1). K.( ! 8!8($1! (%# ! 8#)' #*(K.#*! 3#%#; '.'1($1#$*!'.#3%93%)#,)'-!'!=%(8!=)+)M#2-!(6!$T8)6#;%(6+#8#%#6!!3(%#2-! (6!$T8)6#*!3#%6()%!*!$!%1(_)*(8;3@/\A/\

*!6.8($1#2-! %(+#1),# 4 3%(3#%#2-! *! ($6!$1%! %(,(+# K.(; $# !6#')-! (8

K.( # '!+)6)1#2-! $!%1(#8(%)6#$# ?!) #3%('($1#*#; #' 8(*)*#' *( 6#%P1(% (6!$T8)6!

/

%(3%('($1#$1($!%1(#8(%)6#$!$!!$'(+N!*#;#.+@ #$)(+'3(*)##%(.$)-!;

3!)'

^ !%)($1#2-! #&%(''),# *! !8.$)'8! )$1(%$#6)!$#+; +(,#*# #

(?()1! 3!% 8()! *( '(.' '#1L+)1('; 6%)!. .8# ')1.#2-! (8 K.( '( #6N#

#8(#2#*! ! 8.$*! +),%( (8 '.# 1!1#+)*#*(@ d@@@e !8! ! *(6+#%!. !

%(')*($1( %.8#$; !' '1#*!' $)*!'; 1($*! (8 8)%# !%&#$)M#% '.#

?!%2# (8 *(?('# *(''(' 3%)$6>3)!'; #*!1!. .8 3%!&%#8# *( (8(%&<$6)#

*('1)$#*!#!'$(6(''P%)!'3%(3#%#1),!'(6!$T8)6!'(8)+)1#%('@

F#,($*!#*!1#*!.%&($1(8!=)+)M#2-!(83%!+*#*(?('#6!8.8;

!''1#*!'$)*!'*('("#86!$'.+1#%'(.'6!83#$N()%!';!'8(8=%!'*#

%&#$)M#2-!*!''1#*!'8(%)6#$!';$!1!6#$1(4')1.#2-!8.$*)#+K.(

1!*!'($?%($1#8!';(46!!%*($#2-!*(('?!%2!'6!8.$';$(6(''P%)#$('1#

6!$".$1.%#_{_@}

(%6(=('( 6+#%#8($1( K.( # 6!!3(%#2-! (6!$T8)6# 6!8 ! 6!$1)$($1(; (8 .8

'($1)*!8#)'&(%#+;$-!(%##3%(!6.3#2-!6($1%#+*!&!,(%$!%.8#$@

#+#012)

.%#$1(!'*!)'3%)8()%!'#$!'*('.#3.=+)6#2-!;8#$1(,('(#?#'1#*# *!'1(8#'(6!$T8)6!'*!6!$1)$($1(;#1($*!'(#3.=+)6#%3%(*!8)$#$1(8($1(;8#1L%)#'

*( 6.$N! 6.+1.%#+@ $1%(1#$1!; #39' 1!*# # 3%(''-! %(#+)M#*# *.%#$1( # (.$)-! *(

!$'.+1#*()$)'1%!'*((+#2:('71(%)!%('(8S;$-!?!)8#)'3!''>,(+)&$!%#%!'

#3(+!'3!%#".*#(6!$T8)6#*)%)&)*!'3(+!'3%(')*($1('*!'3#>'('+#1)$!#8(%)6#$!'#!'

A

(4@(''('($1)*!;#3#%1)%*(S/;#1(8P1)6#(6!$T8)6#L*(?)$)1),#8($1(

)$'(%)*#$#3.=+)6#2-!@

`P$!'3%)8()%!'8('('*(S/;3#''!.#1%#M(%#%1)&!'K.(3%!6.%#,#8 8!'1%#%#' &%#$*('!3!%1.$)*#*('*()$,('1)8($1!'(7)'1($1('$!6!$1)$($1(@8#*#'

8#)')$1(%(''#$1('?!)' :/0;#%('3()1!*(.8#($!%8("#M)*#*(8)$L%)! *(?(%%!($6!$1%#*#$#($(M.(+#;'(&.$*!!#.1!%;^!8#)'%)6!*(39')1!*(8)$L%)!*(

?(%%! "P *('6!=(%1! $('1( 3+#$(1#@_/ #%1)&! $-! ?!) #'')$#*! 3!% $($N.8 *!'

6!+#=!%#*!%('6!$,)*#*!'C1#+6!8!?()1!N#=)1.#+8($1(C!K.($!'+(,##6%(%K.('(

1%#1#,#*(.8#%1)&!*(%('3!$'#=)+)*#*(*#%(*#2-!//@#.1!%

?#M .8# #83+# *('6%)2-! *! (83%(($*)8($1! ( *# )83!%1#$1>'')8# 3#%1)6)3#2-! *(

(83%('#' 3%),#*#' $# (73+!%#2-! *# "#M)*# C $# ,(%*#*( 1%#1#,#'( *( #3($#' .8#

(83%('#; # %)$!6! )$)$& !83#$O; '.=')*)P%)# *# 1((+; (83%('# $!%1(

#8(%)6#$#*!%#8!*#3%!*.2-!*(#2!C('!=%(!'(?()1!'=($L?)6!'*#(83%()1#*#[

^ *('6!=(%1# *(''# 5!$#$M# *( (%%! $# (71#()%# #$1# *( \ *(. )$>6)!(6!$1)$.)*#*(#!6%('6)8($1!*##$1('*('!+#*#3%!,>$6)#*(5!+>,#%@).*#* 5!+>,#%; # 6#3)1#+ *# 3%!,>$6)#; 1%#$'?!%8!.'( *( .8# 3#6#1# 6)*#*( 3!%1.P%)# *( K.#%($1# 8)+ 3(''!#' (8 .8 6($1%! )$*.'1%)#+ ( 6!8(%6)#+ ?%($L1)6! 6!8 6(%6# *( '(''($1#8)+@_

/0_{' L .8# 3#+#,%# ('3#$N!+# *( !%)&(8 &%(&#; K.( K.(% *)M(%@ 8 '($1)*! ?)&.%#*!;}

')&$)?)6# ^.8 (76(36)!$#+8($1( %)6! *(39')1! 8)$(%#+ !. .8# #1),)*#*( #+1#8($1( +.6%#1),# !. %(6!83($'#*!%#_N113[VVV@8(%%)#8V(='1(%@6!8*)61)!$#%O=!$#$M# ; #6(''! (8 00//00 ; 0[/A N'@

/_{(%%!.'5!$#$M#;;8#%2!;S/;3@// @1%#*.2-!L'(83%($!''#@}

//_{(''( #%1)&!; #'')8 6!8! (8 *),(%'!' !.1%!' 3.=+)6#*!' (8; ! 1(71! $-! (%# #'')$#*! 3!%}

.'("#;(83%(($*)8($1!'(73+!%#19%)!'1#)'6!8!#8)$(%#2-!(%#8#3%('($1#*!'

(86!8!#$.$6)#*!%('*#6N(&#*#*! 3%!&%(''!3#%##'%(&):('#1%#'#*#'( ^*('!+#*#'_*!'3#>'('*!'.+*!6!$1)$($1(@8#,(MK.(#'3%(!6.3#2:('3#%#6!8!'

(?()1!' (6!+9&)6!' *# #2-! N.8#$# '-! =#'1#$1( %(6($1('; 3!*('( ($1($*(% # K.('1-!

'!= ! 3!$1! *( ,)'1# *! *!8>$)! *# N.8#$)*#*( '!=%( # $#1.%(M#@ 6#3#6)*#*( *(

)$1(%,)%(8!*)?)6#%!8()!#8=)($1(#3#%1)%*!6!$N(6)8($1!1L6$)6!6)($1>?)6!((8

6!$?!%8)*#*( 6!8 #' $(6('')*#*(' ( *('("!' *! '(% N.8#$! (%# ,)'1# 6!8! .8# *#'

&%#$*(',)%1.*('K.(#''!6)(*#*('N.8#$#'3!*(%)#8*('($,!+,(%%#*!;;3@\

@K.((''(#%1)&!3!''.>#(86!8.86!88.)1!'!.1%!'3.=+)6#*!'$#%(,)'1##!

+!$&!*!3(%>!*!('1.*#*!L# 6!$6(32-!*( *(1(%8)$#*#'%(&):('*#8L%)6# #1)$#

6!8! ^%(&):(' *( ?%!$1()%#_; ('3#2!' $!' K.#)' #' 6!$K.)'1#' *# 6),)+)M#2-! !6)*($1#+

#)$*#$-!N#,)#86N(&#*!.%$(%;\@

.#' 3P&)$#' 1#8=L8 3#''#%#8 # '(% ?%(Ka($1(8($1( !6.3#*#' 6!8 #%1)&!' (

$!1#'#%('3()1!*#'%(?!%8#'(6!$T8)6#'$(6(''P%)#'3#%#?#6)+)1#%!#?+.7!*(6#3)1#+

('1%#$&()%!3#%##8L%)6##1)$#@'8#)')83!%1#$1('('1#,#8%(+#6)!$#*#'4#=(%1.%#

6!8(%6)#+ ( 4 %(,)'-! *#' 3!+>1)6#' ?)'6#)' (8 6#*# $#2-!; 8#' 1#8=L8 ('1#,#8

3%('($1(')$?!%8#2:('($!1>6)#''!=%(!'3%!&%#8#'*(6!!3(%#2-!1L6$)6#('!=%(#'

3%!3!'1#',!+1#*#'3#%#!*('($,!+,)8($1!+!6#+*#'3!3.+#2:('@

$1%(#'3%!3!'1#'K.(3!*(8'(%6!$')*(%#*#'8#)'')&$)?)6#1),#'C(81(%8!'

*( *),.+&#2-! C ('1#,# ! 6!!3(%#1),)'8!@ !?(%(6)# &%#$*( )$6($1),! #!

6!!3(%#1),)'8! 6!8! .8# #+1(%$#1),# (6!$T8)6# 3#%# !' 3!,!' +#1)$!#8(%)6#$!' C

#+1(%$#1),# (''# 3($'#*# $! $>,(+ *! )$*),>*.!; !. '("#; 6!8! )$6($1),! 4 +),%(

)$)6)#1),#@ (*)2-! *( ".$N! *( S/ )$)6)# # *)'6.''-! (8 1!%$! *! 1(8# "P $!