Sei sulla pagina 1di 20

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GA7@*cdd[G]7*+G*JEGCJG*EGPGEDHL*IBA*SG>SD=<*ID*E<>PCB=IBCB*AB*CGKD<=D*ID*
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HD*PJDE<A<KDED*ABKGHD*G*HGAB*PCBPGCGOD<=B@*GD*TGHH<CD*EQB*AG*D=TANB=OG=<*B*
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IBA*SG>SD=<*GAA1D=HBCMB=H<*EQDCNCKDE<*B*GA*CDE<MBC<*<JPBIGADBC<7

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PBC*N=*G>SDB=HB*JE<=<JEDNH<@*GDNHG=I<A<*GI*BAGS<CGCB*A1D=T<C>GOD<=B*JNAAG*
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Y7 CDINCCB*A1G=JDG*IBA*SG>SD=<*B*IBA*KB=DH<CB
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TGHH<CD*ABKGHD*GAAB*IDTTBCB=OB*D=IDMDINGAD*EQB*P<HCBSSBC<*D=TANB=OGCB*A1BJDH<*
IBA*PC<EBJJ<*ID*PCBPGCGOD<=B*IBA*SG>SD=<7*-GAD*TGHH<CD*P<JJ<=<*BJJBCB*CGKR
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PCB=IBCB*AG*JNG*PBCEBOD<=B*IBKAD*BMB=HD*ABKGHD*GAAG*JGANHB*B*WNGAB*JDG*AG*JNG*
EGPGEDHL*ID*E<>PCB=JD<=B7*&A*><IBAA<*ID*/DGKBH*JNKAD*JHGID*ID*JMDANPP<*IBA*
PB=JDBC<*^*N=*CDTBCD>B=H<*PBC*E<>PCB=IBCB*E<>B*JD*BM<AM<=<*D*E<=EBHHD*ID*
JGANHB*B*>GAGHHDG*=BA*SG>SD=<7*
%BAAG*TGJB*IBA*PB=JDBC<*PCBR<PBCGH<CD<*XPCD>G*IBD*[*G==D*ID*BHL]*DA*SG>R
SD=<*JGCBSSB*D=EGPGEB*ID*IDJHD=KNBCB*HCG*EGNJG*BI*BTTBHH<@*>G*AB*EGNJB*JGR
CBSSBC<*J<JHG=ODGA>B=HB*CDE<=I<HHB*G*><HDMD*JNPBCJHDOD<JD*B*>GKDEDi*D=<AHCB*
D*SG>SD=D *JGCBSSBC<*D=EGPGED*ID*IDTTBCB=ODGCB*HCG*AB*MGCDB*>GAGHHDB7 *'*[*
G==D*D*SG>SD=D*IG==<*N=G*JPDBKGOD<=B*ID*>GAGHHDG*SGJGHG*JNAAG*KDNJHDODG*
D>>G=B=HB@*PBC*END*PBC*BJB>PD< *mJ<A< *EQD*^*EGHHDM<*JD*G>>GAGmX9DJHBC@*
/GHHBCJ<=@*YZed]7***
%BAAG*TGJB*IBA*PB=JDBC<*<PBCGH<CD<*E<=ECBH<@*XHCG*D*[*B*KAD*YY*G==D]*D*
SG>SD=D*JGCBSSBC<*D=*KCGI<*ID*CDE<=INCCB*AnBOD<A<KDG*IBAAB*>GAGHHDB*GA*E<=R
HGKD<*B*GD*KBC>Di*D=*WNBJHG*TGJB*BJJD*JGCBSSBC<*EGPGED*ID*IDJHD=KNBCB*HCG*D=R
TANB=OB*BJHBC=B*B*D=HBC=B*X,DSGEB@*8GAJQ@*YZeY]7**
%BAAG*TGJB*IBA*PB=JDBC<*<PBCGH<CD<*T<C>GAB*XI<P<*KAD*YY*G==D]*JD*CGKR
KDN=KBCBSSB*N=G*>GKKD<CB*E<=JGPBM<ABOOG*IBAAnBOD<A<KDG*IBAAB*D=TBOD<=D*B*
IBAAnBTTDEGEDG*IBKAD*D=HBCMB=HD*PCBMB=HDMD7*
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PCBPGCGOD<=B7*+G*ABHHBCGHNCG*JNKKBCDJEB*GAEN=B*><IGADHL*ID*E<>N=DEGOD<=B*
BTTDEGED*D=*CBAGOD<=B*GAA1BHL.*WNG=I<*DA*SG>SD=<**^*><AH<*PDEE<A<*XZ*>BJD*
EDCEG]**^*D=*KCGI<*ID*GEEBHHGCB*IBD*J<JHDHNHD*>GHBC=D*B*CDJP<=IB*P<JDHDMG>B=R
HB*GA*E<=HB=D>B=H<@*GAA1BJJBCB*ENAAGH<*B*G*H<=D*ID*M<EB*PGEGHD7
6G*Y*G*\*G==D@*DA*SG>SD=<*PNV*JPBCD>B=HGCB*G=JDG*D=*JBKNDH<*GI*N=G*JBR
PGCGOD<=B@*JPBEDGA>B=HB*D=*JDHNGOD<=D*ID*JHCBJJ7*'*WNBJHG*BHL*DA*SG>SD=<*
JB>SCG*BJJBCB*HC<PP<*PDEE<A<*PBC*E<>PCB=IBCB*JPDBKGOD<=D@*>G*HCGB*SB=BR
TDED<*IGAAB*IDJHCGOD<=D@*IGA*KD<E<*B*IGAAB*>DJNCB*ID*E<=T<CH<@*D>P<CHG=HB*
WND=ID*^*AG*=BEBJJDHL*ID*>D=D>DOOGCB*AG*JBPGCGOD<=B*IGA*KB=DH<CB7*
'I*N=1BHL*E<>PCBJG*HCG*D*\*B*D*k*G==D*D*SG>SD=D*QG==<*SDJ<K=<*ID*CGJJDR
ENCGOD<=B@*A1G=JDG*PNV*BJJBCB*IDJJDPGHG*IG=I<*GA*PDEE<A<*N=*JB=J<*ID*>GKR
KD<C*E<=HC<AA<*IBKAD*BMB=HD@*HCG>DHB*N=G*>GKKD<CB*PGCHBEDPGOD<=B*B*T<C=B=R
I<*GIBKNGHB*JPDBKGOD<=D7*&A*AD=KNGKKD<*NJGH<*IBMB*BJJBCB*JB>PADEB@*PCDM<*
ID*HBC>D=<A<KDG*>BIDEG7*/NV*BJJBCB*NHDAB*A1NJ<*IBA*KD<E<*PBC*T<C=DCB*JPDBR
KGOD<=D*GA*SG>SD=<@*HCG>DHB*AG*KNDIG*ID*PC<TBJJD<=DJHD*D=*KCGI<*ID*T<C=DCB*
JPDBKGOD<=D*JB>PADED*X'SS<HH@*YZZdi*!GJJBAA@*YZkj]7*
'*[RYc*G==D*DA*SG>SD=<*^*=BA*PBCD<I<*IBAAB*o<PBCGOD<=D*E<=ECBHBp*BI*^*
WND=ID*PDa*D=IDPB=IB=HB@*QG*SDJ<K=<*ID*N=*>GKKD<CB*E<D=M<AKD>B=H<*=BA*
PC<EBJJ<*IBEDJD<=GAB7*

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4AD*GI<ABJEB=HD*D=MBEB@*J<=<*D=*KCGI<*ID*BJJBCB*PDa*E<AAGS<CGHDMD7*5<=<*
PDa*E<=JGPBM<AD*BI*D=IDPB=IB=HD@*>G*P<JJ<=<*PC<MGCB*JB=HD>B=HD*ID*MBCK<R
K=G*MBCJ<*AB*PC<PCDB*B><OD<=D*ID*PGNCG@*QG==<*SDJ<K=<*ID*>GKKD<CB*CDJBCR
MGHBOOG7
!1^*WND=ID*E<=JB=J<*=BAAG*CDEBCEG*=BAA1GTTBC>GCB*EQB*D*SG>SD=D@*D=*IDTR
TBCB=HD*JHGID*IBAA<*JMDANPP<@*CDJP<=I<=<*GAA<*JHCBJJ*D=*><ID*IDMBCJD@*GHHNG=R
I<*IDMBCJD*>BEEG=DJ>D*ID*IDTBJG*><INAGHG*IG*IDTTBCB=HD*P<HB=ODGADHL*E<K=DR
HDMB7*+1BHL*^*N=G*MGCDGSDAB*T<=IG>B=HGAB*EQB*JHGSDADJEB*JDG*DA*P<JJDSDAB*ADR
MBAA<*ID *JMDANPP<@ *PBC>BHHB=I< *WND=ID *ID *D>P<JHGCB *N=G * E<>N=DEGOD<=B*
GIBKNGHG*GAAB*EGPGEDHL*ID*E<>PCB=JD<=B*IBA*SG>SD=<@*JDG*DA*><>B=H<*<PR
P<CHN=<*B*AG*><IGADHL*GPPC<PCDGHG*ID*PCBPGCGOD<=B*GA*CDE<MBC<*D=*<JPBIGAB*
<*GAA1D=HBCMB=H<*EQDCNCKDE<@*<JJDG*DA *7#4#3- !X#E4CGg@*YZZ_i*,<hI@*3N=R
JSBCKBC@*YZZei*#E!G==@*9GD=@*cddYi*8GHJ<=@*2DJCG>@*cdd\i*,CBgBC*BH7*
GA7@*cddk]7
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SG>SD=<*^*PC<=H<*GI*GJJD>DAGCB*AB*=<HDODB*JNAA1D=HBCMB=H<*B*JNA*CDE<MBC<*
JB=OG*EQB*WNBJHB*JDG=<*T<=HB*ID*>GKKD<CB*G=JDG7
4AD *JHNID *G=GADOOGHD *J<=< *E<=E<CID *=BAA1GTTBC>GCB *EQB *GI*BHL *IDMBCJB*
E<CCDJP<=IG*N=*IDMBCJ< *7#4#3-* ID*PCBPGCGOD<=B*X#BAG>BI@*5DBKBA@*YZedi*
#BAG>BI@*(DIABhRl<Q=J<=@*YZeeG]7*%BD*SG>SD=D*><AH<*PDEE<AD*XIGD*\*GD*j*
G==D*EDCEG]*D*ADMBAAD*ID*G=JDG*J<=<*KBJHDHD*D=*><I<*PDa*BTTDEGEB*JB*AG*PCBPGCGR
OD<=B*^*BTTBHHNGHG*AG*=<HHB*PCD>G*IBAA1D=HBCMB=H<@*>B=HCB*=BD*SG>SD=D*PDa*
KCG=ID*XHCG*D*j*B*D*Yc*G==D]*AB*CDJP<JHB*G=JD<JB*GPPGD<=<*>B=<*TCBWNB=HD*JB*
AG*PCBPGCGOD<=B*^*GHHNGHG*GA>B=<*N=G*JBHHD>G=G*PCD>G*X9GD=*BH7*GA7@*YZZk]7*
UNBJH<*JNKKBCDJEB*E<>B*D*SG>SD=D*PDa*KCG=ID*GSSDG=<*SDJ<K=<*ID*N=*PDa*
AN=K< * PBCD<I< * ID * HB>P< * PBC * >BHGS<ADOOGCB * AB * D=T<C>GOD<=D@ * >B=HCB * =BD*
SG>SD=D*PDa*PDEE<AD*D*ADMBAAD*ID*G=JDG*P<HCBSSBC<*GN>B=HGCB*JB*A1D=HBCMGAA<*
TCG*AG*PCBPGCGOD<=B*B*A1D=HBCMB=H<*<*DA*CDE<MBC<*T<JJB*HC<PP<*AN=K<*X+B*(<h*
BH7*GA7@*cdd[i*#BAG>BI*BH7*GA7@*YZe\]7*)1*=BEBJJGCD<*E<=JDIBCGCB*G=EQB*AG*
JDHNGOD<=B*D=*END*N=*SG>SD=<*QG*KDL*MDJJNH<*A1BJPBCDB=OG*IBAA1<JPBIGADOOGR
OD<=B*B*IBAA1D=HBCMB=H<7*&=*WNBJH<*EGJ<*^*P<JJDSDAB*EQB*N=G*PCBPGCGOD<=B*
BEEBJJDMG>B=HB*G=HDEDPGHG*P<JJG*D=INCCB*N=G*CDJP<JHG*B><HDMG*><AH<*BABR
MGHG * EQB * P<HCBSSB * KB=BCGCB * N= * BEEBJJDM< * JHGH< * I1G=K<JEDG * X#E * !G==@*
9GD=@*cddYi*9GD=*BH7*GA7*YZZk]7
:7#,#!(#!$+5#3-
+GOGCNJ*B*;<Ar>G=*XYZe_]*P<JHNAGC<=<*E<>B*AB*MGANHGOD<=D*ID*N=G*JDR
HNGOD<=B*IG*PGCHB*IBKAD*D=IDMDIND*T<JJBC<*D=TANB=OGHB*IGAAG*A<C<*PBCEBOD<=B*
ID*E<=HC<AA<*JN*N=G*P<HB=ODGAB*>D=GEEDG7*&*CDJNAHGHD*ID*GAEN=B*CDEBCEQB*QG=R

jY
=<*><JHCGH<*E<>B*AG*>G=EG=OG*ID*E<=HC<AA<*JN*D>>D=B=HD*PC<EBINCB*>BIDR
EQB*CGPPCBJB=HD*N=G*IBAAB*T<=HD*ID*>GKKD<CB*JHCBJJ@*EQB*PNV*EGNJGCB*E<=JDR
IBCBM<AB*G=JDG*PBC*DA*SG>SD=<@*EQB*IBMB*BJJBCB*J<HH<P<JH<*GI*N=*D=HBCMB=H<*
<*GI*N=*CDE<MBC<*X#GE9BDHQ@*YZj\i*8<ATBC@*2DJDHGD=BC@*YZ[j]7*)1*P<JJDSDAB*
GTTBC>GCB@*WND=ID@*EQB*JB*DA*SG>SD=<*PBCEBPDJEB*ID*GMBCB*N=*GIBKNGH<*E<=R
HC<AA<*JNAAG*E<=IDOD<=B*ID*CDE<MBC<*B*CDJPBHH<*GAA1D=HBCMB=H<@*GAA<CG*P<HCL*
PBCEBPDCB*AG*JDHNGOD<=B*E<>B*>B=<*>D=GEED<JG*B*PBC*WNBJH<*>G=DTBJHBCL*
>D=<CB *G=JDG7*/CD><*JE<P<*ID*<K=D*D=HBCMB=H<*ID*PCBPGCGOD<=B*P<HCBSSB*
PBCEDV*BJJBCB*ID*E<=INCCB*DA*SG>SD=<*G*CDGEWNDJHGCB*N=*JB=J<*ID*GNH<E<=R
HC<AA<*E<=*A1<SDBHHDM<**ID*GAABMDGCB*AG*JNG*G=JDG7*+GOGCNJ*B*;<Ar>G=*XYZe_]*
PC<P<=K<=<*N=*><IBAA<*ID*E<PD=K*SGJGH<*JN*INB*EGHBK<CDB.*N=*4+(%,,+!1+;
$.,#<<.7+!*=,!5&+>,%4.!B*N=!4+(%,,+!1+$.,#<<.7+!*=,,%!%4+<#+3#?*IBHH<*G=R
EQB *4+(%,,+!7&.3*.<#+3.,%7! 5BE<=I<*KAD*GNH<CD@*DA *$+5#3-!1+$.,#<<.7+!*=,!
5&+>,%4.*D=EANIB*AG*CDEBCEG*GHHDMG*ID*D=T<C>GOD<=D@*ID*J<ANOD<=D*IBA*PC<SABR
>G*B*ID*E<>P<CHG>B=HD*M<AHD*G*><IDTDEGCB*AB*EDCE<JHG=OB*GAAn<CDKD=B*IBAA<*
JHCBJJ@*PBC*END*^*NHDADOOGH<*=BAAB*JDHNGOD<=D*PBCEBPDHB*E<>B*PDa*TGEDA>B=HB*
E<=HC<AAGSDAD7 * &A *$+5#3- ! 1+$.,#<<.7+ ! *=,,@%4+<#+3% !^ * M<AH< * G * CBK<AGCB * AB*
B><OD<=D*GHHCGMBCJ<*AG*A<C<*BJPCBJJD<=B*B*><INAGOD<=B7*+B*CDEBCEQB*G=GADOR
OGHB*JNKKBCDJE<=<*E<>B*P<JJG*BJJBCB*NHDAB*P<CHGCB*DA*SG>SD=<*GAA1NHDADOO<*
ID*B=HCG>SB*AB*><IGADHL*ID*E<PD=K*IBJECDHHB*GA*TD=B*ID*TGM<CDCB*N=G*ID>D=NR
OD<=B*IBAAB*CDJP<JHB*G=JD<JB*B*TGEDADHGCB*N=*>DKAD<CB*GIGHHG>B=H<*GAAG*JDHNGR
OD<=B7*;<C=DCB*GA*SG>SD=<*JPDBKGOD<=D*INCG=HB*N=G*MDJDHG*D=*CBPGCH<*<*D=*
JGAG*<PBCGH<CDG*PNV*>BHHBCB*D=*GHH<*AG*E<>P<=B=HB*IBA*E<PD=K*T<EGADOOGHG*
JNA*PC<SAB>G@*>B=HCB*PBC>BHHBCB*GA*SG>SD=<*GHHCGMBCJ<*DA*KD<E<*ID*BJPCDR
>BCB *B><OD<=D * ID *G=JDG *>BHHB=I< * D=*GHH< *N=1BJPBCDB=OG * JPDGEBM<AB * XBJ7*
A1D=INOD<=B*IBAA1G=BJHBJDG*JN*N=G*SG>S<AG]@*PNV*GHHDMGCB*AG*E<>P<=B=HB*
IBA*E<PD=K*T<EGADOOGHG*JNAA1B><OD<=B*X+D*BH7*GA7*cdd[G]7*
+B*CDEBCEQB*G=GADOOGHB*J<HH<AD=BG=<*E<>B*AB*GSDADHL*ID*E<PD=K*IBA*SG>R
SD=<*JDG=<*D=TANB=OGHB*JDG*IG*TGHH<CD*G>SDB=HGAD@*JDG*SD<A<KDED7*&*TGHH<CD*E<=R
JDIBCGHD*JD*CDTBCDJE<=<*GAAG*PCBJB=OG*ID*N=G*CBHB*J<EDGAB*ID*JNPP<CH<@*AG*PCBR
JB=OG*ID*SN<=B*CBAGOD<=D*J<EDGAD@*D*ADMBAAD*ID*GNH<JHD>G@*AG*PCBJB=OG*ID*N=*A<R
ENJ*<T*E<=HC<A*D=HBC=<@*D=<AHCB*G=EQB*AG*PBCJ<=GADHL*BI*DA*HB>PBCG>B=H<*D=R
JDB>B*GI*BHL*B*KB=BCB*P<JJ<=<*GMBCB*N=*D>PGHH<*JDK=DTDEGHDM<*JNAA1GSDADHL*
IBA*SG>SD=<*ID*GTTC<=HGCB*BMB=HD*JHCBJJG=HD*X5QGCCBC@*(hG=R8B=KBC@*YZZji*
-hE*BH7*GA7@*YZZji*5D==B>G@*YZZYi*#BAG>BI*BH7*GA7@*YZeeSi*!<>PGJ@*YZe[i*
(NHHBC*YZeYi*,<hI@*3N=JSBCKBC@*YZZei*,A<>*YZje]7*
&= * KB=BCGAB@ * JBE<=I< * GAEN=D * IBKAD * JHNID * BJG>D=GHD * X,<JJBCH@ * YZZ_i*
-Q<>PJ<=@*YZZ_i*!<CS<*s(DEQBCH*BH7*GA7@*YZZ\i*,GC=BJ*BH7*GA7@*YZZdi*!GHh*
BH7*GA7@* YZeZi *;DBAI*BH7*GA7@* YZeei *!GHh*BH7*GA7@*YZe_i *!CN>>BHHB *BH7*GA7@*
YZe_i*+G#<=HGK=B@*YZe_i*-BJABC@*5GMBICG@*YZeY]@*AB*><IGADHL*ID*E<PD=K*
PDa*NJGHB*IGA*SG>SD=<*=BA*E<=HBJH<*<JPBIGADBC<*JD*P<JJ<=<*CDGJJN>BCB*D=*
GAEN=B*EGHBK<CDB.

jc
! CDEBCEG*ID*D=T<C>GOD<=D
! CDEBCEG*ID*E<=T<CH<*B*JNPP<CH<
! GHHNGOD<=B*ID*T<C>B*ID*GNH<RPC<HBOD<=B*E<>B*AG*PC<HBJHG7*AG*CBJDJHB=OG*
GAAG*E<AAGS<CGOD<=B@*AG*E<AAGS<CGOD<=B*
! J<HH<>DJJD<=B*<PPNCB*GKKCBJJDMDHL
! CDEBCEG*ID*N=*>GKKD<CB*E<=HC<AA<*JNAAG*JDHNGOD<=B
! IDJHCGOD<=B*E<K=DHDMG*B*E<>P<CHG>B=HGAB*GHHCGMBCJ<*DA*KD<E<*<*GHHDMDHL*
GSDHNGAD
! CDEBCEG*ID*KCGHDTDEGOD<=B7

'AEN=D*JHNID*J<=<*E<=E<CID*=BA*PC<P<CCB*GAEN=B*JHCGHBKDB*EQB*P<JJG=<*
TGEDADHGCB * DA * E<PD=K * IBD * SG>SD=D * X,<hI@ * 3N=JSBCKBC@ * YZZei * +D * BH7 * GA7@*
cdd[Gi*+B(<h*BH7*GA7@*cdd[]7*UNBJHB*JHCGHBKDB*P<JJ<=<*BJJBCB*GHHNGHB*IGA*
PBCJ<=GAB*>BIDE<*B*IGD*TG>DADGCD*B*E<=JDJH<=<*D=.
! T<C=DCB*D=T<C>GOD<=D*GIBKNGHB*E<=*N=*GHHBKKDG>B=H<*PGODB=HB*B*KB=HDR
AB@*NHDADOOG=I<@*I<MB*T<JJB*<PP<CHN=<@*G=EQB*JB=J<*IBAA1N><CDJ><*=BA*
CDJPBHH<*IBA*SG>SD=<*B*IBAAB*JNB*EGCGHHBCDJHDEQB@*
! PC<P<CCB*GHHDMDHL*ID*IDJHCGOD<=B
! JNPP<CH<7
! MDJDHGCB*AG*JGAG*<PBCGH<CDG7*UNBJH<*P<HCBSSB*CB=IBCB*HGAB*G>SDB=HB*PDa*
TG>DADGCB*PBC*DA*SG>SD=<*EQB*WND=ID*P<HCBSSB*JMDANPPGCB*N=*>GKKD<CB*
JB=J<*ID*E<=HC<AA<*PBCJ<=GAB7*
! NHDADOOGCB*DA*KD<E<@*GI*BJB>PD<*AB*SG>S<AB@*PBC*JPDBKGCB*AB*PC<EBINCB*
>BIDEQB *EQB*DA*SG>SD=<*I<MCL*GTTC<=HGCB@*E<D=M<AKB=I<*DA*SG>SD=<*
JHBJJ< * =BAA1GPPADEGOD<=B * JNAAG * SG>S<AG * IBKAD * JHCN>B=HD * >BIDED * XGI*
BJB>PD<*GPPADEGCB*KAD*BABHHC<ID*PBC*A1)!4@*>DJNCGCB*AG*PCBJJD<=B@*TGC*
D=I<JJGCB*AG*>GJEQBCG*PBC*A1G=BJHBJDG]7*&=*WNBJH<*><I<*DA*SG>SD=<*P<R
HCBSSB*GEWNDJHGCB*E<=TDIB=OG*CDJPBHH<*G*WNBJHB*>G=<MCB*JHCBJJG=HD*BI*
GEWNDJDCB*N=*>GKKD<CB*JB=J<*ID*E<=HC<AA<*IBAAG*JDHNGOD<=B7
6*5+*#<#+3%!.!5&%$%(%37#!%*5%&#%3<%!
+B *PCBEBIB=HD *BJPBCDB=OB *ABKGHB *GAA1<JPBIGADOOGOD<=B*B *GAA1D=HBCMB=H<*
EQDCNCKDE<*KD<EG=<*N=*CN<A<*><AH<*D>P<CHG=HB*=BA*IBHBC>D=GCB*AB*CBGOD<=D*
IBD*SG>SD=D*G*PC<EBINCB*>BIDEQB*D=MGJDMB@*J<PCGHHNHH<*JB*HGAD*BJPBCDB=OB*
J<=<*JHGHB*PBCEBPDHB*=BKGHDMG>B=HB*X6GQAWNDJH*BH7*GA7@*YZeki*9GD=*BH7*GA7@*
YZZk]7*'AEN=B*CDEBCEQB*QG==<*><JHCGH<*E<>B*D=*JBKNDH<*GI*N=G*PCBPGCGR
OD<=B*BTTBHHNGHG*>BIDG=HB*JNPP<CHD*GNID<MDJDMD@*SG>SD=D*GAAG*PCD>G*BJPBR
CDB=OG*D=*N=*E<=HBJH<*<JPBIGADBC<*CDMBAGJJBC<*N=G*ID>D=NOD<=B*IBD*ADMBAAD*
ID*G=JDG@*>B=HCB*SG>SD=D*E<=*PCBEBIB=HD*BJPBCDB=OB@*D=*JBKNDH<*GAAG*PCBPGR
CGOD<=B@*><JHCGMG=<*N=*D=ECB>B=H<*IBD*ADMBAAD*ID*G=JDG*<PPNCB*CD>G=BMG=<*
D=IDTTBCB=HD*X#BAG>BI*BH7*GA7@*YZe\i*;GNJH@*#BAG>BI@*YZe_]7

j\
'=EQB*WNBJHG*MGCDGSDAB*JB>SCG*BJJBCB*D=TANB=OGHG*IGAA1BHL@*D=TGHHD*CDEBCR
EQB * ID><JHCG=< * E<>B * AG * CBGHHDMDHL * B><HDMG * ID * SG>SD=D * E<= * PCBEBIB=HD*
BJPBCDB=OB*JDG*>GKKD<CB*D=*SG>SD=D*><AH<*PDEE<AD*XJ<HH<*KAD*e*G==D]*B*ID>DR
=DNDJEG*E<=*A1GN>B=HGCB*IBAA1BHL*XeRY_*G==D]7*UND=ID*GI<ABJEB=HD*EQB*QG=R
=<*GMNH<*PCBEBIB=HD*BJPBCDB=OB*ID*CDE<MBC<*<*D=HBCMB=H<*HCGKK<=<*E<>N=R
WNB*SB=BTDED<*IG*N=G*PCBPGCGOD<=B@*GA*E<=HCGCD<*IBD*SG>SD=D*PDa*PDEE<AD*
X#BAG>BI*BH7*GA7@*YZe\]7
9%45%&.4%37+!
!<=*DA*HBC>D=B*oHB>PBCG>B=H<p*ED*JD*CDTBCDJEB*GI*N=G*WNGADHL*PDNHH<JH<*
JHGSDAB*B*ID*SGJB*E<JHDHNOD<=GAB@*CDKNGCIG=HB*AG*CBGHHDMDHL*B*AG*EGPGEDHL*ID*
GNH<CBK<AGOD<=B*IBAA1D=IDMDIN<@*D=*CDJP<JHG*G*JHD><AD*G>SDB=HGAD*X(<HQSGCH@*
YZeZi*(<HQSGCH*BH7*GA7*cddd]7*+G*EGCGHHBCDJHDEG*HB>PBCG>B=HGAB*BHDEQBHHGHG*
E<>B*oGNH<CBK<AGOD<=BpJB>SCG*GMBCB*N=1D>P<CHG=OG*PGCHDE<AGCB*=BA*KNDR
IGCB*DA*PC<EBJJ<*ID*PCBPGCGOD<=B*IBA*SG>SD=<7*+G*EGPGEDHL*IBA*SG>SD=<*ID*
GNH<CBK<AGCJD@*><INAG=I<*AG*JNG*CBGHHDMDHL*B*GHHDMG=I<*N=*E<=HC<AA<*D=DSDH<R
CD<*J<=<*EGCGHHBCDJHDEQB*<JJBCMGHB*><AH<*PCBJH<*=BD*SG>SD=D*HCG*D*Yd*B*D*Yc*
>BJD*B*CGTTD=GHB*P<D*E<=*DA*ECBJEBCB*IBAA1BHL7*+1GNH<CBK<AGOD<=B*=BKAD*JHNID*
E<=JDIBCGHD*JB>SCG*BJJBCB*GJJ<EDGHG*GI*N=G*ID>D=NOD<=B*IBAAG*PGNCG@*GI*
B><OD<=D*P<JDHDMB*B*G*CDI<HHD*ADMBAAD*ID*TCNJHCGOD<=B*E<=*EGPGEDHL*ID*GHHDMGCB*
BTTDEGED*JHCGHBKDB*ID*E<PD=K*INCG=HB*AB*PC<EBINCB*>BIDEQB*X(<HQSGCH@*cddY@*
9<EQG=JrG*BH7*GA7@*cdddi*5GA><=@*cddc]7*'AEN=D*JHNID*X9GD=*BH7*GA7@*YZZki*
8GHJ<=@*2DJCG>@*cdd\]@*D=<AHCB@*ID><JHCG=<*E<>B*SG>SD=D*D=DSDHD*GSSDG=<*
PDa*BABMGHD*ADMBAAD*ID*G=JDG*GA*><>B=H<*IBAAG*PCBPGCGOD<=B@*>B=HCB*SG>SD=D*
D>PNAJDMD*GSSDG=<*N=*>GKKD<CB*CDJEQD<*ID*CDJP<JHG*G=JD<JG*KB=BCGADOOGHG*B*
G=JDG*IG*JBPGCGOD<=B*I<P<*c*JBHHD>G=B*IG*N=*D=HBCMB=H<7
A77%--#.4%37+!(%#!-%3#7+&#!B%&*+!,.!4.,.77#.!
+1G=JDG*IBD*KB=DH<CD*INCG=HB*A1<JPBIGADOOGOD<=B*IBA*SG>SD=<*PNV*BJJBCB*
><AH<*BABMGHG*BI*^*I<MNHG*GAAG*JBPGCGOD<=B*I<P<*A1G=BJHBJDG@*<*GAAG*J<TTBR
CB=OG*TDJDEG*IBA*PC<PCD<*SG>SD=<7*'AEN=D*JHNID*X,<hI@*3N=JSBCKBC@*YZZei*
8GHJ<=@*2DJCG>@*cdd\i*+D@*cdd[Ei*2GK=<AD*BH7*GA7@*cddji*+B*(<h*BH7*GA7@*
cdd[]*ID><JHCG=<*E<>B*N=*BABMGH<*JHGH<*ID*G=JDG*=BA*KB=DH<CB*P<JJG*BJJBCB*
GJJ<EDGH<*GI*BABMGHD*ADMBAAD*ID*G=JDG*G=EQB*=BA*SG>SD=<*X+D*BH7*GA7@*cdd[Gi*
,CB==G=@*YZZ_]7*6GKAD*JHNID*^*CDJNAHGH<*E<>B*D*KB=DH<CD*JDG=<*N=*TGHH<CB*
D>P<CHG=HB*=BA*><INAGCB*AG*CDJP<JHG**B><HDMG*IBD*SG>SD=D*GI*BMB=HD*JHCBJR
JG=HD*ABKGHD*GA*CDE<MBC<*B*GAA1D=HBCMB=H<7*4AD*JHNID*J<=<*E<=E<CID*=BA*JNKKBR
CDCB*E<>B*A<*JHCBJJ*IBD*KB=DH<CD*P<JJG*BJJBCB*TGEDA>B=HB*HCGJ>BJJ<*GA*SG>R
SD=<*D=*><I<*D=IDCBHH<.*N=1BEEBJJDMG*ECDHDEG@*N=*GHHBKKDG>B=H<*BEEBJJDMGR
>B=HB * PCB<EENPGH< * BI * D=GPPC<PCDGHB * CGJJDENCGOD<=D * MBCSGAD * P<JJ<=< * GNR
>B=HGCB*A<*JHCBJJ*IBA*SG>SD=<*X2GK=<AD*BH7*GA7@*cdd[i*#DAABC*BH7*GA7@*YZZZi*
9GD=*BH7*GA7@*cdd\i*#E4CGg@*YZZ_i*5GA><=@*/BCBDCG@*cddci*,BMG=*BH7*GA7@*

j_
YZZdi*4CBB=SGN>*BH7*GA7@*YZee]7*61GAHCG*PGCHB*^*CDE<=<JEDNH<*EQB*DA*KB=DH<R
CB*P<JJG*KD<EGCB*G=EQB*N=*CN<A<*P<JDHDM<*=BAA1GDNHGCB*DA*SG>SD=<*G*CDINCCB*D*
ADMBAAD*I1G=JDG*B*G*CD=T<COGCB*AB*JNB*JHCGHBKDB*ID*E<PD=K*X8<ATBC@*2DJDHGD=BC@*
YZ[ji*!G>PSBAA*BH7*GA7@*YZeki*YZZc]@*D=*WNG=H<*BJJD*P<JJ<=<*CGJJDENCGCB*DA*
SG>SD=<*B**PC<>N<MBCB*D=*AND*N=G*JB=JGOD<=B*ID*>GKKD<CB*TG>DADGCDHL*B*JDR
ENCBOOG*CDJPBHH<*GI*N=*G>SDB=HB*MDJJNH<*GAHCD>B=HD*E<>B*BJHCG=B<*B*P<HB=R
ODGA>B=HB*PBCDE<A<J<*X,BEQBC@*5D=K@*YZZ[]7*)1*WND=ID*D>P<CHG=HB*GDNHGCB*DA*
KB=DH<CB*G*HB=BCB*A1G=JDG*J<HH<*E<=HC<AA<*B*WNBJH<*JD*PNV*<HHB=BCB*E<D=M<AR
KB=I<A<*=BAA1D=HBCMB=H<*ID*PCBPGCGOD<=B *IBA*SG>SD=<@*D=<AHCB *^*CDJNAHGH<*
NHDAB*<TTCDCB*GA*KB=DH<CB*N=<*JPGOD<*PBC*BJPCD>BCB*AB*PC<PCDB*PCB<EENPGOD<R
=D*X+B*(<h*BH7*GA7@*cdd\i*,NJQ*BH7*GA7@*YZeki*,A<N=H*BH7*GA7*YZeZ]7*UNBJH<*
P<HCL*IGCB*E<>B*CDJNAHGH<*N=*GN>B=H<*IBAAG*TDINEDG*EDCEG*DA*PBCJ<=GAB*>BR
IDE<*B*AB*JNB*E<>PBHB=OB*B*WND=ID*G=EQB*N=G*>GKKD<CB*$+45,#.3$%*CDJPBHR
H<*GAAB*ENCB*JDG*IBA*KB=DH<CB*JDG*IBA*SG>SD=<*JHBJJ<*X5WNDCBJ@*YZZji*/NCR
EBAA@*YZZk]7
1-(.+*'#*(+&()*'2&'($0.+&("/&$+*
+G*PCBPGCGOD<=B*GAA1D=HBCMB=H<*B*GA*CDE<MBC<*PNV*BJJBCB*GHHNGHG*GHHCGMBCR
J<*MGCDB*HBE=DEQB*EQB*KAD*JHNID*G=GADOOGHD*QG==<*ID><JHCGH<*BJJBCB*BTTDEGED*
X#BAG>BI@*(DIABhRl<Q=J<=@*YZeeGi*/CNDHH@*)AAD<H@*YZZdi*'>BCDEG=*'EGIBR
>h*<T*/BIDGHCDEJ@*YZZ\i*9GD=*BH7*GA7*YZZei*#DHEQBAA*BH7*GA7@*cdd\].*
! T<C=B=I<*D=T<C>GOD<=D*J<HH<*T<C>G*ID*CGEE<=H<
! >BIDG=HB *N=G *MDJDHG * EQB *PBC>BHHG *GA *SG>SD=< * ID* TG>DADGCDOOGCB *E<=*
A1G>SDB=HB*<JPBIGADBC<*
! GHHCGMBCJ<*DA*KD<E<@*GI*BJB>PD<*E<=*SG>S<AB*HCG>DHB*END*MB=K<=<*D>DR
HGHD*D*CN<AD*ID*SG>SD=<*B*PBCJ<=GAB*>BIDE<
! GHHCGMBCJ<*JPBHHGE<AD*ECBGHD*GI*Q<E*E<=*>GCD<=BHHB*<*PNPGOOD*
! GDNHG=I<*SG>SD=D*B*KB=DH<CD*G*>BHHBCB*D=*GHH<*GIBKNGHB*JHCGHBKDB*ID*$+;
5#3-*B*ID*CDAGJJG>B=H<*
! GHHCGMBCJ<*ADSCD*ECBGHD*GPP<JDHG>B=HB*JNAA1GCK<>B=H<*
! GHHCGMBCJ<*MDIB<*
X;BAIBCR/NDK*BH7*GA7@*cdd\i*+D*BH7*GA7@*cdd[Gi*$OGCr*BH7*GA7@*YZec]

1*.2(..*&#+
+G*CBMDJD<=B*IBAAG*ABHHBCGHNCG*JNA*HB>G*IBAAG*E<>N=DEGOD<=B*E<=*DA*PGR
ODB=HB*PBIDGHCDE<*^*CDJNAHGHG*E<=E<CIB*=BAA1GTTBC>GCB*EQB*N=G*SN<=G*PCBPGR
CGOD<=B*GA*CDE<MBC<*B*GAA1D=HBCMB=H<*P<HCBSSB*GDNHGCB*DA*SG>SD=<*G*>DHDKGCB*
A1G=JDG*=BD*E<=TC<=HD*ID*N=*G>SDB=HB*MDJJNH<*E<>B*=<=*TG>DADGCB*B*P<HB=R
ODGA>B=HB*>D=GEED<J<*B*P<HCBSSB*GDNHGCA<*G*KBJHDCB*AG*PCB<EENPGOD<=B@*PBCR
>BHHB=I<KAD*ID*GHHDMGCB*CDJ<CJB*B*IDTBJB*NHDAD*PBC*TC<=HBKKDGCB*AG*>GAGHHDG7*
4AD*JHNID@*PBCV@*ED*D=IDEG=<*E<>B*=<=*JDG*P<JJDSDAB*KB=BCGADOOGCB@*D=TGHHD*AB*

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HBE=DEQB*PBC*CDINCCB*A1G=JDG*=<=*J<=<*JB>PCB*NHDAD*G*ID>D=NDCB*A<*JHCBJJ7*)1*
=BEBJJGCD<*HB=BCB*D=*E<=JDIBCGOD<=B*GAEN=D*TGHH<CD*ABKGHD*GAAB*IDTTBCB=OB*D=R
IDMDINGAD*EQB*P<HCBSSBC<*D=TANB=OGCB*A1BJDH<*IBA*PC<EBJJ<*ID*PCBPGCGOD<=B*
IBA*SG>SD=<7*`*D=TGHHD*=<H<*E<>B*A1BHL*IBA*SG>SD=<*JDG*N=*TGHH<CB*BJHCB>GR
>B=HB*CDABMG=HB*IG*E<=JDIBCGCB*=BAA1<CKG=DOOGOD<=B*ID*N=*PC<KCG>>G*ID*
PCBPGCGOD<=B7*UNBJH<*PBCEQt@*E<>B*GSSDG><*KDL*J<HH<AD=BGH<@*^*D>P<CHG=HB*
MGANHGCB *A<*JHGID<*ID* JMDANPP<*IBA *SG>SD=< *B*WND=ID *AG*JNG *EGPGEDHL * ID*
E<>PCB=JD<=B*IBA*E<=EBHH<*ID*>GAGHHDG*B*ID*KBJHD<=B*B><HDMG7*#G*=<=*J<A<*
A1BHL*CDJNAHG*BJJBCB*N=*TGHH<CB*IBHBC>D=G=HB@*G=EQB*DA*HD>D=K*JGPPDG><*BJJBR
CB*T<=IG>B=HGAB7*`*D>P<CHG=HB*E<=JDIBCGCB*WNGAB*JDG*DA*><>B=H<*KDNJH<*
PBC*PCBPGCGCB*DA*SG>SD=<*GTTD=EQt*AB*D=T<C>GOD<=B*T<C=DHB*=<=*GAD>B=HD=<*
A1G=JDG*G=ODEQt*ID>D=NDCAG7*UNBJH<*TGHH<CB*CDJNAHG*ABKGH<*GAA1BHL*IBA*SG>SDR
=<7*5B>SCG*D=TGHHD*EQB*SG>SD=D*PDa*KCG=ID*GSSDG=<*SDJ<K=<*ID*PDa*HB>P<*
PBC*BAGS<CGCB*A1D=T<C>GOD<=B*CDJPBHH<*GD*PDa*PDEE<AD@*><HDM<*PBC*END*AG*PCBR
PGCGOD<=B*PNV*BJJBCB *PDa*BTTDEGEB *JB*TGHHG *GA>B=< *N=G*JBHHD>G=G *PCD>G*
IBAA1D=HBCMB=H<*<*IBA*CDE<MBC<7*'=EQB*AG*EGPGEDHL*IBA*SG>SD=<*ID*>BHHBCB*
D=*GHH<*>BEEG=DJ>D *ID *E<PD=K *GIBKNGHD *PBC *TC<=HBKKDGCB *AG *JDHNGOD<=B *^*
><AH<*D>P<CHG=HB*B*ABKGHG*GAAG*JNG*EGPGEDHL*ID*E<AAGS<CGCB*P<D*G*HNHH<*DA*
PC<EBJJ<*ID*ENCG7*&A*>BEEG=DJ><*EQB*JD*>BHHB*D=*GHH<*GHHCGMBCJ<*AG*PCBPGCGR
OD<=B*IBA*SG>SD=<*^*WNBAA<*ID*TGEDADHGCB*AG*JB=JGOD<=B*ID*N=*>GKKD<CB*E<=R
HC<AA<*IBAAG*JDHNGOD<=B*PBC*T<C=DCB*GA*PDEE<A<*>GKKD<CB*JDENCBOOG*B*>D=<CB*
PGNCG7*'=EQB*DA*E<PD=K*^*D=TANB=OGH<*IG*N=G*JBCDB*ID*MGCDGSDAD*D=IDMDINGAD*
ID*HDP<*SD<A<KDE<*B*PJDE<J<EDGAB*XGI*BJB>PD<*DA*HB>PBCG>B=H<@*A1BHL@*AB*CBHD*
J<EDGAD@*DA*E<=HBJH<*BINEGHDM<*B*TG>DADGCB]@*MGCDGSDAD*EQB*CB=I<=<*<K=D*SG>R
SD=<*IDMBCJ<*=BAA1GHHNGCB*AB*JHCGHBKDB*ID*E<PD=K*JBE<=I<*AND*PDa*GIBKNGHB*
GAAG*KBJHD<=B*IBAA<*JHCBJJ7*%<=*SDJ<K=G*D=<AHCB*ID>B=HDEGCB*EQB*JB*DA*SG>R
SD=<*^*JHGH<*PCBEBIB=HB>B=HB*BJP<JH<*GI*BJPBCDB=OB*ABKGHB*GAA1D=HBCMB=H<*<*
GA*CDE<MBC<@*AG*PCBPGCGOD<=B *P<HCBSSB *J<CHDCB *BTTBHHD *IDTTBCB=HD *CDJPBHH<*G*
WNBAAD*GHHBJD*ID*CDINOD<=B*IBAA1G=JDG7*&=TGHHD*AG*PCBPGCGOD<=B*P<HCBSSB*CDBM<R
EGCB *CDE<CID *HCGN>GHDED *EQB*P<HCBSSBC< *E<=INCCB *MBCJ<*CBGOD<=D*B><HDMB*
BJGKBCGHB*B*WND=ID*IDJGIGHHDMB*CDJPBHH<*GAAG*JDHNGOD<=B7*$=1GAHCG*MGCDGSDAB*
E<=JDIBCGHG*IGKAD*JHNID*G=GADOOGHD*^*DA*HB>PBCG>B=H<*IBA*SG>SD=<7*!1^*GER
E<CI<*=BA*JNKKBCDCB*E<>B*SG>SD=D*>GKKD<C>B=HB*D=DSDHD*GSSDG=<@*GAAG*PCBR
PGCGOD<=B@*CDJP<JHB*PDa*G=JD<JB*CDJPBHH<*GD*SG>SD=D*BJHBC=GADOOG=HD7
&=TD=B*=<=*MG*ID>B=HDEGH<*DA*CN<A<*IBA*KB=DH<CB*=BAA1D=TANB=OGCB*AG*CDINR
OD<=B*IBAAB*CDJP<JHB*G=JD<KB=B*IBA*SG>SD=<7*4AD*JHNID*JNKKBCDJE<=<*E<>B*
AG * PCBJB=OG * IBA * KB=DH<CB * P<JJG * GDNHGCB * DA * SG>SD=< * G * MDMBCB * A1G>SDB=HB*
<JPBIGADBC<*E<>B*>B=<*>D=GEED<J<*B*PDa*TG>DADGCB@*T<C=B=I<*CGJJDENCGR
OD<=B*B*JNPP<CH<*B*ECBG=I<*GHH<C=<*GA*SG>SD=<*N=*EAD>G*>B=<*<JHDAB*BI*
G=JD<KB=<@*>G*=<=*JB>SCG*BJJBCB*JB>PCB*E<Jq7*5B*D=TGHHD*DA*KB=DH<CB*^*><AR
H<*G=JD<J<*WNBJH1G=JDG*P<HCL*BJJBCB*HCGJ>BJJG*GA*SG>SD=<*EQB*WND=ID*GADR
>B=HBCL*AG*JNG*CDJP<JHG*IDJGIGHHDMG7*/BC*E<=HB=BCB*A1G=JDG*IBA*KB=DH<CB*^*CDR

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JNAHGH<*NHDAB*T<C=DCB*D=T<C>GOD<=D*B*E<D=M<AKBCA<*=BA*PC<EBJJ<*ID*PCBPGCGR
OD<=B*IBA*SG>SD=<*D=*><I<*HGAB*EQB*G=EQB*=BA*E<=HBJH<*<JPBIGADBC<*P<JJG*
J<JHB=BCB*MDM<*DA*JN<*CN<A<7*UNBJHG*E<=JDIBCGOD<=B*IBA*KB=DH<CB*JB>SCG*GNR
>B=HGCB*AG*TDINEDG*=BAAB*E<>PBHB=OB*IBA*PBCJ<=GAB*>BIDE<*BI*QG*BTTBHHD*
P<JDHDMD*G=EQB*JNAAG*CBAGOD<=B*E<=*DA*>BIDE<*B*WND=ID*JNAAG*E<>PADG=EB7*
4AD*JHNID*G=GADOOGHD*JNKKBCDJE<=<**E<>B*DA*CGEE<=H<*B*DA*KD<E<*JDG=<*CDR
JNAHGHD*AB*><IGADHL*ID*E<>N=DEGOD<=B*PCDMDABKDGHB*B@*WND=ID@*PDa*JPBJJ<*NJGR
HB*PBC*GDNHGCB*DA*SG>SD=<*G*TG>DADGCDOOGCB*E<=*AG*JDHNGOD<=B*IBA*CDE<MBC<*B*
IBAA1D=HBCMB=H<7

3&#2/(.*&#*
5<A<*IG*EDCEG*ED=WNG=H1G==D*J<=<*JHGHB*GMMDGHB*D=DODGHDMB*PBC*GIGHHGCB*
A1G>SDB=HB*<JPBIGADBC<*GAAB*BJDKB=OB*IBD*SG>SD=D7*;D=<*GKAD*G==D*5BHHG=HG@*
D*SG>SD=D*MB=DMG=<*CDE<MBCGHD*D=*CBPGCHD*PBIDGHCDED*JPC<MMDJHD*ID*JPGOD*PBC*DA*
KD<E<*B*=BD*WNGAD*D*KB=DH<CD*BCG=<*G>>BJJD*J<A<*D=*<CGCD*ID*MDJDHG*AD>DHGHD7*
%N>BC<JD*GNH<CD@*GMBMG=<*BMDIB=ODGH<*DA*IDJGKD<*B*AB*J<TTBCB=OB*D=I<HHB*
IGAA1<JPBIGADOOGOD<=B * =BD * SG>SD=D7 * ;CG * WNBJHD * CDE<CIDG>< * (B=^ * 5PDHO*
XYZke]@*l<Q=*,<gASh*XYZ[eG@*YZ[eS]@*6<=GAI*8D==DE<HH*XYZ[_i*YZ[j]@*IDR
><JHCG=I<*E<>B*T<JJB*=BEBJJGCD<*JGAMGKNGCIGCB*DA*SG>SD=<*IG*HGAD*J<TTBR
CB=OB*ECBG=I<*CBPGCHD*<JPBIGADBCD*GIBKNGHD*GAAB*JNB*BJDKB=OB7
+1D>P<CHG=OG*IBAAG*E<>N=DEGOD<=B*B*IBAAG*CBAGOD<=B*HCG*>BIDE<@*SG>R
SD=<*B*KB=DH<CB@*CB=IB*=BEBJJGCDG*N=G*PGCHDE<AGCB*T<C>GOD<=B*IBD*>BIDED*
EQB*JD*GPPCBJHG=<*G*AGM<CGCB*E<=*D*SG>SD=D7*"KKD@*D=TGHHD@*AG*PBIDGHCDG*=<=*
JD*AD>DHG*PDa*J<A<*GAAG*IDGK=<JD*B*GA*HCGHHG>B=H<*IBAAB*>GAGHHDB@*>G*JD*BJHB=R
IB*JN*N=G*JBCDB*ID*PGCG>BHCD*EQB*CDEQDBI<=<*=N<MB*E<=<JEB=OB*JNAA<*JMDR
ANPP<* IBA * SG>SD=<@ *BINEGOD<=GAD@ *PJDE<A<KDEQB * B* J<ED<A<KDEQB *X(NSD=<@*
YZZ[]7*&A*>BIDE<*D=*T<C>GOD<=B*JPBEDGADJHDEG*GAAG*PBIDGHCDG*IBMB*IN=WNB*
E<=TC<=HGCJD*E<=*=N<MB*E<=<JEB=OB*>BIDEQB@*>G*G=EQB*E<=*=N<MB*T<C>B*
ID*GPPC<EED<*GD*PC<SAB>D*IBAAG*PCBMB=OD<=B@*IBAAG*IDJGSDADHLi*D=<AHCB*HCG*KAD*
<SDBHHDMD*IBAAG*T<C>GOD<=B*^*PCBMDJHG*A1GEWNDJDOD<=B*ID*JPBEDTDEQB*E<>PBR
HB=OB*E<>N=DEGHDMB*PBC*CBGADOOGCB*A1D=E<=HC<*E<=*DA*SG>SD=<*B*AG*JNG*TG>DR
KADG7*
-CG*KAD*<SDBHHDMD*D=IDEGHD@*GI*BJB>PD<@*PBC*DA*PBIDGHCG*ID*E<>N=DHL*X=<CR
>B*E<>N=D*IBA*67#7*YY*>GKKD<*YZZj]*HC<MDG><*D=TGHHD*A1GPPCB=ID>B=H<*
IBAAB*SGJD*HB<CDEQB*IBAA1D=JBCD>B=H<*IBA*SG>SD=<*B*IBAA1GI<ABJEB=HB*=BAAB*
IDMBCJB*E<>N=DHL@ *E<=*AB*PGH<A<KDB*EQB*P<JJ<=<*IBCDMGC=B@*CDKNGCI<*JDG*
GKAD*GJPBHHD*EAD=DED@*JDG*G*WNBAAD*CBAGOD<=GAD7*
"K=D*TGJB*IBAAG*E<>N=DEGOD<=B*=BA*EG>P<*IBAAG*>GAGHHDG*D=TG=HDAB@*I<R
MCBSSB*BJJBCB*WND=ID*<KKBHH<*ID*N=1GIBKNGHG*T<C>GOD<=B*IBKAD*<PBCGH<CD.*
AG*IDGK=<JD@*DA*E<=JB=J<*D=T<C>GH<@*AG*=BEBJJDHL*ID*D=HBCMB=H<*EQDCNCKDE<*<*
ID*WNGAJDGJD*PC<EBINCG*EQB*PC<M<EQD*I<A<CBi*PBC*<K=N=<*ID*WNBJHD*BMB=HD*^*

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=BEBJJGCD<*EQB*>BIDED*BI*D=TBC>DBCD*GSSDG=<*P<HNH<*JPBCD>B=HGCB*BI*BJJBR
CB*T<C>GHD*JNAAB*HBE=DEQB*ID*N=G*E<>N=DEGOD<=B*BTTDEGEB*D=*><I<*EQB*JDG*
A<C<*EQDGC<*E<JG*IDCB@*E<>B*IDCA<*B*WNG=I<*IDCA<@*PGCHB=I<*JB>PCB*IGA*PCBR
JNPP<JH<*EQB*IDCB*AG*MBCDHL**I<MCBSSB*GDNHGCB*G*=<=*GAD>B=HGCB*AB*PGNCB7
'AA1D=HBC=<*ID*WNBJH<*E<=HBJH<*ID*T<C>GOD<=B*^*WND=ID*BMDIB=HB*E<>B*
JDG*D>P<CHG=HB*IGCB*JPGOD<*GAAG*ID>B=JD<=B*J<KKBHHDMG*IBA*PDEE<A<*PGODB=HB*
B*=<=*J<A<*GAAG*JNG*PGH<A<KDG7*+1GKDCB*IBA*>BIDE<*IBMB*E<>PCB=IBCB@*D=TGHR
HD@*=<=*J<A<*AG*IDGK=<JD*B*A1D>P<JHGOD<=B*IBAAG*HBCGPDG@*>G*G=EQB*DA*E<=R
TC<=H<*E<=*DA*MDJJNH<*ID*>GAGHHDG*IBA*PGODB=HB*X#<uG@*2BK=D@*cddd]7*%B*JBR
KNB*N=G*=BEBJJDHL*ID*GAAGCKG>B=H<*IBAAB*E<>PBHB=OB*IBD*PC<TBJJD<=DJHD@*NHDR
AD*JHCN>B=HD*PBC*KBJHDCB*B*GTTC<=HGCB*DA*MDJJNH<*ID*>GAGHHDG*X4CGID@*+G>DG=D@*
cddj]7*UNBJH<*<SDBHHDM<*E<>P<CHG*N=*NJ<*PC<TBJJD<=GAB*B*E<=JGPBM<AB*IBAR
AG*E<>N=DEGOD<=B*=BAAB*E<=JNAHGOD<=D*EAD=DEQB*B*=BA*PBCE<CJ<*ID*ENCG7*+G*
EGPGEDHL*ID*E<>N=DEGCB*B*E<JHCNDCB*N=G*SN<=G*CBAGOD<=B*E<=*DA*SG>SD=<*
>GAGH<*IDMB=HG*WND=ID*N=1BJDKB=OG*DCCD=N=EDGSDAB*X%<MG*BH7*GA7@*cddj]7*5GR
PBC*E<>N=DEGCB*E<=*DA*PC<PCD<*PGODB=HB*^*N=*>BOO<*P<HB=HB*=BAAB*>G=D*IBA*
>BIDE<@*>G*J<A<*JB*NHDADOOGH<*D=*><I<*E<=JGPBM<AB*B*PBC*CGKKDN=KBCB*IBR
HBC>D=GHD*D=HB=HD7*+B*E<>PBHB=OB*E<>N=DEGHDMB*=<=*JD*P<JJ<=<*D>PC<MMDR
JGCB@*>G*IBM<=<*BJJBCB*GPPCBJB@*HG=H<*EQB*><AHB*TGE<AHL*>BIDEQB*QG==<*
E<>D=EDGH<*GI*D=JBCDCB*=BD*A<C<*ENCCDENAG**E<CJD*ID*o!<>N=DEGOD<=B*B*CBAGR
OD<=Bp7*4AD*D=HBCMB=HD*T<C>GHDMD*EQB*JD*J<=<*ID><JHCGHD*BTTDEGED*X0D>>BCR
>G==@*YZZ[i*5PB=EBC@*cdd\]@*PNC*=BAAB*A<C<*JMGCDGHB*T<C>B@*E<=IDMDI<=<*
D>P<CHG=HD*EGCGHHBCDJHDEQB*EQB*CDKNGCIG=<*AG*A<C<*E<=INOD<=B*B*D*E<=HB=NHD*
HCGHHGHDi*D=*PGCHDE<AGCB.
! AG*><IGADHL*IDIGHHDEG*GI<HHGHG*^*ID*HDP<*D=HBCGHHDM<*B*JD*EGCGHHBCDOOG*PBC*
A1NJ<*ID*HBE=DEQB*I1D=JBK=G>B=H<*M<AHB*G*E<D=M<AKBCB*DA*IDJEB=HB*B*G*
D=E<CGKKDGCB*N=*CN<A<*GHHDM<*=BA*PC<EBJJ<*ID*GPPCB=ID>B=H<
! D*E<=HB=NHD*PC<P<JHD*PGCH<=<*IGAAB*BJDKB=OB*IBD*PGCHBEDPG=HD*B*JD*SGJGR
=<*JN*WNBAA<*EQB*CBGA>B=HB*GEEGIB*=BAAG*A<C<*PCGHDEG*EAD=DEG
! JD*D=JBK=G=<*E<>PBHB=OB*E<>N=DEGHDMB*oEB=HCGHB*JNA*PGODB=HBp*PBCEQt*
KGCG=HDJE<=< *ID*P<HBC *CGEE<KADBCB *B*KBJHDCB *AB *D=T<C>GOD<=D *<HHB=NHB*
XJND*JD=H<>D*B*DA*A<C<*E<=HBJH<*PJDE<J<EDGAB@*JNAAB*GJPBHHGHDMB@*AB*HB<CDB*
B*AB*PCB<EENPGOD<=D*IBA*PGODB=HB]
X0D>>BC>G==*BH7*GA7@*cddj]

6GD*CDJNAHGHD*IBAAB*CDEBCEQB*E<=JDIBCGHB*D=*WNBJHG*CGJJBK=G*B>BCKB*EQB*
WNBJHD*>BH<ID*CDJNAHG=<*BTTDEGED*BI*^*WND=ID*D=E<CGKKDGHG*N=1NAHBCD<CB*CDR
EBCEG*G*ID><JHCGOD<=B*ID*N=*D=HBCBJJB *PC<KCBJJDMG>B=HB *ECBJEB=HB*MBCJ<*
KAD*GJPBHHD*E<>N=DEGHDMD*B*CBAGOD<=GAD*IBA*PC<EBJJ<*ID*ENCG*G=EQB*D=*GCBG*
BM<ANHDMG7

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'HHCGMBCJ<*A1G=GADJD*IBAAG*ABHHBCGHNCG*JNA*HB>G*IBA*CDE<MBC<*<JPBIGADBC<*B*IBAR
A1D=HBCMB=H<*EQDCNCKDE<*D=*G>SDH<*PBIDGHCDE<@*WNBJH<*AGM<C<*JD*P<=B*A1<SDBHHDM<*ID*
D=IDMDINGCB*AB*HBE=DEQB*ID*E<>N=DEGOD<=B*E<=*DA*SG>SD=<*PDa*BTTDEGED*=BA*CDINCCB*
A1G=JDG*GJJ<EDGHG*G*PC<EBINCB*>BIDEQB*B*EQDCNCKDEQB*B*ID*D=IDMDINGCB*D*TGHH<CD*PCD=R
EDPGAD*EQB*D=TANB=OG=<*AG*CDJP<JHG*IBD*SG>SD=D*G*HGAB*E<>N=DEGOD<=B7*+G*ABHHBCGHNCG*
D=EANJG*^*JHGHG*CBPBCDHG*HCG>DHB*AB*SG=EQB*IGHD*/JhE&=T<@*#BIAD=B*B*!<EQCG=B*+DSCGR
Ch*B*E<>PCB=IB*JHNID*B>PDCDED*JNA*HB>G*IBAAG*E<>N=DEGOD<=B*E<=*DA*SG>SD=<*INR
CG=HB*DA*CDE<MBC<*<JPBIGADBC<7*4AD*JHNID*JNKKBCDJE<=<*E<>B*JPDBKGOD<=D*E<=*AD=R
KNGKKD<*B*><IGADHL*GIBKNGHB*GAA1BHL*P<JJG=<*>DHDKGCB*A1G=JDG*IBA*SG>SD=<*PBC*N=*
G>SDB=HB*JE<=<JEDNH<@*GDNHG=I<A<*GI*BAGS<CGCB*A1D=T<C>GOD<=B*JNAAG*>GAGHHDG*B*JNAR
A1<JPBIGAB@*TGM<CB=I<*AG*E<AAGS<CGOD<=B*GAAB*ENCB7*$=G*SN<=G*E<>N=DEGOD<=B*PCBR
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