59
!"#$%&' )*+ ,&-.'+#-%*& /0. 1#&23**4 1*5 -* 67& 8)).9-%:. ;*&'5+%-%&' <*+4=0*>=

0.(1#&23**4( · 2018-11-09 · 9.00 - 10.00 Frühstück 10.15 Bildung von 4 Gruppen, eine weitere bildet sich nach dem Mittagessen GruppenAuftrag: •

  • Upload
    others

  • View
    1

  • Download
    0

Embed Size (px)

Citation preview

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

((

(

/0.(1#&23**4(((

1*5(-*(67&(8)).9-%:.(;*&'5+%-%&'(<*+4=0*>=(

!!

!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6!

!?+7&2-:%'(@(A.#+&%&'(!#+-&.+=0%>(

BCDD(E(BCDF(((

78$4*4!59!!

!!

!!

<.3=%-.G=H(&&&:0;39($%7#'($)*%'3)(#$:<#=!&&&:.#==*'<3=0:3)>0?(6!

!!

!!!

"*0)*=5*'!6@AB!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

B!

I*&-.&-((

DJ(,&-+*279-%*&(

(

BJ(/0.(6*".(*)(<*+4=0*>=(%&(;*&'5+%-%&'(

(

FJ(K.&7(*)(<*+4=0*>(L9-%:%-%.=(

,J(M*&@;*&'5+%-%&'(8N.+9%=.=(

A:!"/#')!CD*'<(.*.!

A:A:!E<*5'*3-*'.!

A:6:!F($*!G8).!

A:B:!H8%%;($%!1!F*3'$($%!I3=*.!

6:!F#$%*'!CD*'<(.*.!

6:A:!F(.)*$($%!CD*'<(.*!

6:6:!CD0;#'($%!J#==#$!E$)*'*.).!

,,J(;*&'5+%-%&'(8N.+9%=.=(

A:!"#$%&'()($%!J('<;*.!

6:!J#1!&'()($%!

B:!"#$%&'()($%!J3.*!")849K!L9!/*3')!(.MM!1!CD*'<(.*!

?:!N#49!3$4!O#<3;!,3'=180.!

P:!E$)8()(Q*!"($%($%!

R:!S8*.)!.0*3-*'.!3$4!7#'=3;!)*3</($%!

T:!CQ3;83)(#$.!

!

OJ(;7''.=-.2(<*+4=0*>(P*+Q#-(

?:A:!U#'=3)!7#'!3$!CQ*$($%!L**)($%!

?:6:!U#'=3)!7#'!3!,**-*$4!

?:B:!U#'=3)!7#'!3!,**-;#$%!,#'-./#0!

!

RJ(!.+)*+Q#&9.(S>>*+-7&%-%.=(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?!

TJ(/.90&%9#"(#&2(A*'%=-%9#"(,==7.=(

!

UJ(S+'#&%=#-%*&#"(;-+79-7+.=(

T:A:!"*))($%!80!3!.#$%!&'()($%!#'%3$(.3)(#$!

T:6:!F#<3)(#$!

T:B:!U('.)!")*0.!

T:?:!V(=.!3$4!G5W*<)(Q*.!

T:P:!V4=($(.)'3)(Q*!")'8<)8'*.!

T:R:!U'*X8*$<9!#7!L**)($%.!

T:T:!J#==8$(<3)(#$.!

T:Y:!F*%3;!C$)()(*.!

!

VJ(<+%-%&'(;*&'=(

Y:A:!Z*7;*<)(#$!J/'(.)#7!U($-![V8.)'(3\!

Y:6:!Z*7;*<)(#$!]3)/3'($3!S34*![S*'=3$9\!

Y:B:!Z*7;*<)(#$!^#$9!N3'4#$![E'*;3$4\!

Y:?:!_.9</#;#%(<3;!`(=*$.(#$.!#7!"#$%&'()($%!!

Y:P:!_#*)'9!3$4!"#$%&'()($%!

!

WJ(P7&2%&'(

(

DCJ(I*&9"7=%*&=(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

P!

DJ(,&-+*279-%*&(

(

#J(X#94'+*7&2(

^/*!08'0#.*!#7!)/(.!23$45##-! (.! )#!0'#Q(4*!%8(43$<*!)#!)/#.*!&/#!3'*!.*))($%!80!#'!3'*!'8$$($%!

'*%8;3'!.#$%&'()($%!&#'-./#0.!($!3!$#$10'#7*..(#$3;!.*))($%:(

E)!/3.!5**$!0'*03'*4!59!)/*!=*=5*'.!#7!3!S'8$4)Q(%!"#$%1&'()($%!03')$*'./(0!-$#&$!3.!a_;39($%!

7#'! E$)*%'3)(#$b!&/(</! (.! 03')! #7! 3! C8'#0*3$! F(7*;#$%! F*3'$($%! _'#%'3==*:! ^/*!=*=5*'.! #7! )/(.!

03')$*'./(0!($<;84*!.#$%&'()*'.!7'#=!*(%/)!4(77*'*$)!C8'#0*3$!<#8$)'(*.K!V8.)'(3c!E'*;3$4c!";#Q*$(3c!

S*'=3$9c!Z#=3$(3c!`*$=3'-c!d]!3$4!_#;3$4:!

G$*! #7! )/*! )3.-.c! &/(</! &*! .*)! #8'.*;Q*.! 7#'! )/*! _3')$*'./(0c! &3.! )#! <'*3)*! 3! 23$45##-! 7#'!

<#$48<)($%! .#$%&'()($%! &#'-./#0.! )#! 5*! /*;4! ($! 3').! #'! *48<3)(#$3;! ($.)()8)(#$.! &()/#8)!

0'#7*..(#$3;!.800#'):!2#&*Q*'c!()! (.!(=0#')3$)!)/3)!)/*!#'%3$(.*'.!3'*!=#)(Q3)*4!59!3! ;#Q*!)/*!3')!

3$4!<'37)!#7!.#$%&'()($%!3$4!#7!().!=3$9!4(77*'*$)!73<*).:!

`8'($%!)/*!<#8'.*!#7!)/*!03')$*'./(0!&*!Q(.()*4!*3</!#)/*'e.!<#8$)'(*.c!*D3=($*4!)/*!7#;-!)'34()(#$!

#7! *3</! <#8$)'9c! <#$48<)*4! &#'-./#0.! 3$4! 08)! #$! %(%.! 3$4! <#$<*').:! ,*! /3Q*! 0##;*4! #8'!

-$#&;*4%*! 3$4! *D0*'(*$<*! #7! .#$%&'()($%! 3$4! #7! '8$$($%! &#'-./#0.! )#! <#=*! 80! &()/! )/(.!

23$45##-:!

"#$%&'()($%!(.!3!0#08;3'!3<)(Q()9!58)!3;.#!)*$4.!)#!5*!3!.#;()3'9!3<)(Q()9!3$4!.#=*!&'()*'.!5*<#=*!73'!

=#'*!0'#48<)(Q*!&/*$!)/*9!W#($!3!<#==8$()9!#7!#)/*'!.#$%&'()*'.:!^/(.!(.!&/9!'*%8;3'!&#'-./#0.!

/3Q*!3$! (=0#')3$)!'#;*!)#!0;39! ($!)/*!4*Q*;#0=*$)!#7!.#$%&'()($%:!2#&*Q*'c! ($!#8'!*D0*'(*$<*c! ()!

<3$!5*!*D)'*=*;9!4(77(<8;)!)#!%*)!3!.#$%&'()($%!&#'-./#0!#77!)/*!%'#8$4!3$4!)/*$!)#!.8.)3($!():!,*!

/#0*!)/3)!)/*!<#$)*$).!#7!)/(.!23$45##-!&(;;!/*;0!)#!=3-*!)/(.!)3.-!*3.(*':!

^/*!0*#0;*c!&/#!&*!5*;(*Q*c!&(;;!7($4!)/(.!23$45##-!03')(<8;3';9!8.*78;!3'*!*D(.)($%!.#$%&'()*'.!&/#!

4#! $#)! /3Q*! 3<<*..! )#! 0'#7*..(#$3;! )8()(#$! 58)! &/#! &(./! )#! <#=*! )#%*)/*'! )#! 4*Q*;#0! )/*('!

.#$%&'()($%!.-(;;.!3$4!)#!%*)!7**453<-!#$!)/*!.#$%.!)/3)!)/*9!3'*!&'()($%:!

!

3J(P*97=(

^/*!=3($!7#<8.!#7!)/(.!23$45##-!&(;;!5*!#$!)/*!'8$$($%!#7!'*%8;3'!&#'-./#0.:!,*!&(;;!3;.#!)3-*!3!

;##-!3)!)/*!'8$$($%!#7!)/*!&**-*$4!&#'-./#0.!3$4!;#$%*'!0*'(#4.!#7!80!)#!3!&**-:!^/*!7#<8.!#$!)/*!

;#$%*'!&#'-./#0.!)*$4.!)#!5*!4(77*'*$)!3$4!)/#.*!)/3)!3'*!03')(<(03)($%!=39!5*!4#($%!.#!#$!3!#$*!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

R!

#77!53.(.!3$4!)/*9!&(;;!/3Q*!%'*3)*'!*D0*<)3)(#$!#7! 7#'=3;!)8()(#$:!"#!)/*'*!&(;;!5*!3!4(77*'*$)!.-(;;!

3$4!<#=0*)*$<*!'*X8('*=*$)!7#'!)/*!'8$$($%!#7!)/*.*!)90*.!#7!&#'-./#0.:!

(

9J(I0#"".&'.(

,*!/#0*!)/3)!=3$9!#7!)/*!'*34*'.!#7!)/(.!23$45##-!&(;;!)3-*!80!)/*!</3;;*$%*!#7!.*))($%!80!)/*('!

#&$! &#'-./#0:! f#8! &(;;! 5*! *=53'-($%! #$! &/3)! &*! <#$.(4*'! )#! 5*! 3! &#')/&/(;*! 3$4! 8;)(=3)*;9!

'*&3'4($%!W#8'$*9!3$4!&*!&(./!9#8!3;;!)/*!Q*'9!)/*!5*.)!($!9#8'!*$4*3Q#8'.:!

,*! &#8;4! ;(-*! )#! )/3$-! 3;;! )/*! =*=5*'.! #7! a_;39($%! 7#'! E$)*%'3)(#$bc! &/#! <#$)'(58)*4! )#! )/*!

23$45##-!3$4!&*!/#0*!)/3)!9#8!)##!&(;;!<#$)($8*!)#!/3Q*!78;7(;=*$)!($!9#8'!.#$%&'()($%!3<)(Q()(*.:!

(

(

((

(

C4()*4!59!/*&$(X#+2*&c!E'*;3$4!

F39#8)!59!I0+%=-*)(P%&4c!V8.)'(3!

"*0)*=5*'!6@AB!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

T!

BJ(/0.(6*".(*)(<*+4=0*>=(%&(;*&'5+%-%&'(

!

,*!5*;(*Q*! )/3)!&#'-./#0.! 3'*! )/*!=#.)! *77*<)(Q*!&39! 7#'! .#$%&'()*'e.! )#! 4*Q*;#0! )/*('! )3;*$).:!

2#&*Q*'c! 5*7#'*! <#=($%! )#! 3!&#'-./#0! ()! (.! 4*.('35;*! )/3)! 3! .#$%&'()*'!&#8;4! /3Q*! .#=*!53.(<!

.-(;;.!*()/*'!($!&'()($%!=*;#4(*.!#'! ;9'(<.:!,*!4#!$#)!5*;(*Q*!)/3)!3!&#'-./#0!(.!3!.8()35;*!;*3'$($%!

*$Q('#$=*$)!7#'!.#=*#$*!&/#!&3$).!)#!;*3'$!)#!5*!3!.#$%&'()*'!7'#=!.<'3)</:!,/#!9#8!)*$4!)#!%*)!

<#=($%!)#!3!.#$%&'()($%!&#'-./#0!(.!)/*!<;3..(<!.($%*'!.#$%&'()*'!>!%8()3'(.)!&/#!/3.!3;;!)/*!.-(;;.c!#'!

.#=*#$*!&/#!#$;9!&'()*.!=*;#4(*.!3$4!.#=*#$*!&/#!#$;9!&'()*.!;9'(<.:!f#8!=39!3;.#!3))'3<)!0#*).!

&/#!3'*!($)*'*.)*4!($!5'3$</($%!#8)!)#!5*<#=($%!;9'(<!&'()*'.!3$4!*Q*$!=*;#49!&'()*'.!(7!)/*9!/3Q*!

.8</!;3)*$)!%(7).:!

"#$%&'()($%! &#'-./#0.! <3$! )3-*! 3! $8=5*'! #7! 4(77*'*$)! 7#'=3).:! ^/*! =#.)! 0#08;3'! 7#'=3)! (.!

0'#535;9!)/*!'*%8;3'!&**-;9c!7#')$(%/);9c!=#$)/;9!.*..(#$:!E$!344()(#$c!&#'-./#0.!<3$!5*!/*;4!#$!3!

#$*1#77!53.(.!#Q*'!3!&**-*$4!#'!#Q*'!3!7(Q*1439!#'!&**-;#$%!0*'(#4:!

C3</! #7! )/*! 4(77*'*$)! 7#'=3).! /3.! 3! 4(77*'*$)! '#;*! )#! 0;39:! ^/*! '*%8;3'! &#'-./#0.! *$35;*! )/*!

.#$%&'()*'!)#!7#<8.!#$!0*'7*<)($%!)/*('!<'37):!N9!<#$)($8($%!)#!7#<8.!#$!3!'*%8;3'!53.(.!)/*9!5*<#=*!

=#'*!0'#7(<(*$):!,/*$!0(;#).!3'*! ;*3'$($%!)#!7;9c! )/*9!/3Q*!)#!<#=0;*)*!3!<*')3($!3=#8$)!#7!7;9($%!

/#8'.!5*7#'*!)/*9!<3$!%*)!3!<#==*'<(3;!;(<*$.*:!!"#$%&'()*'.!&(;;!8$4#85)*4;9!(=0'#Q*!(7!)/*9!/3Q*!

)/*!*X8(Q3;*$)!#7!7;9($%!/#8'.!.0*$)!*D0;#'($%!4(77*'*$)!3.0*<).!#7!.#$%&'()($%:!

E$!)/*!'*%8;3'!&#'-./#0.c!)/*!*=0/3.(.!(.!#$!03')(<(03$).!;*3'$($%!7'#=!*3</!#)/*'!&()/!.#=*!($08)!

*Q*'9!$#&!3$4!)/*$!59!0'#7*..(#$3;!)*3</*'.!#'!0*'7#'=*'.:!

^/*!&**-*$4!#'! 7(Q*1439! #'! ;#$%*'!&#'-./#0.! )*$4! )#! /3Q*! 3! 4(77*'*$)! 7#<8.! 3$4! 3.! 3! '*.8;)!3'*!

;(-*;9!)#!3))'3<)!3!4(77*'*$)!)90*!#7!03')(<(03$):!L3$9!0*#0;*!<#=*!)#!)/*.*!)90*.!#7!&#'-./#0.!)#!

7($4!#8)!&/*)/*'!#'!$#)!)/*9!/3Q*!)/*!<303<()9!)#!5*<#=*!3!.#$%&'()*':!E$!)/*!;3'%*'!)(=*7'3=*c!()!

(.!0#..(5;*!7#'!)/*!#'%3$(.*'.!)#!*Q3;83)*!)/*!*D(.)($%!3$4!0#)*$)(3;!)3;*$)!#7!)/*!03')(<(03$).!3$4!)#!

0'#Q(4*!3$!*;*=*$)!#7!%8(43$<*!3$4!=*$)#'($%:!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

Y!

FJ(K.&7(*)(<*+4=0*>(L9-%:%-%.=(

(

,&-+*279-%*&(

G8'!3(=!(.!)#!0'#Q(4*!3!.*'(*.!#7!*D*'<(.*.c!&/(</!&(;;!/*;0!#'%3$(.*'.!)#!.8.)3($!=#=*$)8=!48'($%!

)/*! &#'-./#0c! /#&*Q*'! ;#$%! )/3)! =(%/)! 5*:! ! ,*! /3Q*! ($<;84*4! 5#)/! .#$%&')($%! 3$4! $#$1

.#$%&'()($%! *D*'<(.*.:! "#$%&'()($%! *D*'<(.*.! )*$4! )#! 5*! X8()*! ;#$%! 3$4! .#=*)(=*.! ()! (.! 5*))*'! )#!

/3Q*!.#=*!./#')!*D*'<(.*.!)#!73<(;()3)*!5#$4($%!3$4!)#!.8.)3($!*$*'%9!;*Q*;.!($!)/*!&#'-'##=:!!

!

,J(M*&@;*&'5+%-%&'(8N.+9%=.=(

(

DJ(;0*+-(8N.+9%=.=(

"/#')!*D*'<(.*.!3'*!*..*$)(3;!7#'!;3'%*'!%'#80.!3$4!7#'!;*..!*D0*'(*$<*4!&'()*'.!3.!)/*!'*.8;)1./3'($%!

.*..(#$! (.! ./#')*':! ^/*9! 3'*! ;*..! ($)*$.(Q*! )/3$! ;#$%*'! #$*.! 3$4! %(Q*! (==*4(3)*! 7**453<-! )#! )/*!

#'%3$(.*'!35#8)!'*;3)(Q*!35(;()9!;*Q*;.!3$4!)/*'*7#'*!&/#!&(;;!$**4!=#'*!.800#'):!"#=*!03')(<(03$).!

=39!%*)!%##4!'*.8;).!)/3)!&(;;!;*34!)/*=!($)#!3!;#$%*'!&'()($%!.*..(#$:!

!

DJDJ(,9.3+.#4.+=(

V$! (<*5'*3-*'! (.!3!./#')!3<)(Q()9!4*.(%$*4!)#!*$<#8'3%*!03')(<(03$).!)#!)3;-!)#!#$*!3$#)/*'!3$4!)#!

./3'*!.#=*! ;(=()*4! ($7#'=3)(#$!35#8)!)/*=!3$4! (4*3;;9!./#8;4!5*!<3''(*4!#8)!3)!)/*!5*%($$($%!#7!

)/*!0'#%'3==*:!!

,#'-./#0!03')(<(03$).!<3$!'3$%*!5*)&**$!)/#.*!&/#!3'*!%3''8;#8.!3$4!#0*$!3$4!#)/*'.!&/#!3'*!

X8(*)!3$4!$*'Q#8.:!E<*5'*3-*'.!/*;0!.)'8<)8'*!3!g.#7)!;3$4($%e!($)#!)/*!&#'-./#0!7#'!*Q*'9#$*:!

!

"/#')!3$4!.(=0;*c!#'!;#$%*'!3$4!=#'*!<#=0;*Dc!(4*3;;9!)/*'*!#8%/)!)#!5*!3!78$!3.0*<)!($Q#;Q*4!3$4!

0*'/30.! #7! .#=*! '*;*Q3$<*! )#! )/*! 7#<8.! #7! &#'-./#0! ().*;7:! C()/*'! &39c! 59! )/*! *$4! #7! )/*! 7('.)!

*D*'<(.*! *Q*'95#49! ./#8;4! /3Q*! .0#-*$! )#! 3$4! )#;4! .#=*#$*! *;.*! ($! )/*! '##=! .#=*)/($%! 35#8)!

)/*=.*;Q*.!#)/*'!)/3$!)/*('!$3=*:!!

,/*$! </##.($%! *D*'<(.*.c! 5*3'! ($! =($4! )/3)! -($3*.)/*)(<! *D*'<(.*.! 3'*! =#'*! ;(-*;9! )#! <'*3)*! #'!

=3($)3($! *$*'%9! ;*Q*;.! ($! )/*! '##=! 3$4!=8.(<>.($%($%1'*;3)*4! *D*'<(.*.! <3$! /*;0! g&3'=180e! )/*!

%'#80:!!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

h!

DJBJ(A%&.(S7-=(

S##4!7#'!($)*'$3)(#$3;!03')(<(03$).!

/%Q.K!A@!=($8)*.!

"8%%*.)*4!=3D:!!#+-%9%>#&-=K!6P!+!B@!

L9-%:%-$(".:."K!_*#0;*!&(;;!$**4!)#!5*!35;*!)#!=#Q*!3'#8$4!3$4!.#')!)/*=.*;Q*.!($)#!3!;($*:!

(

8N>"#&#-%*&Y(

^/*!%'#80!&(;;!7#'=!)/*=.*;Q*.!($)#!3!<#$)($8#8.!;($*!53.*4!80#$!<'()*'(3!9#8!.*):!

CD3=0;*.!($<;84*!

• U('.)!$3=*!+!V$4'*&!)#!i#j!

• 2*(%/)!+!"/#')*.)!)#!)3;;*.)!

• "/#*!.(k*!+!"=3;;*.)!)#!;3'%*.)!

• N(')/439![0'#535;9!5*.)!$#)!)#!8.*!3%*\!

• 23$4!.(k*!

• i#4(3<!"(%$.!

• ^/*!78')/*.)!)/*9eQ*!*Q*'!)'3Q*;;*4!

_3')(<(03$).!3'*!)/*$!3.-*4!)#!.($%!3!Q*'.*!7'#=!)/*('!73Q#8'()*!.#$%!#'!(7!)/*9!4#$e)!.($%!)#!5'(*7;9!

$3=*!)/*('!73Q#8'()*!.#$%!3$4!.39!&/9:!

(

DJFJ(Z7''"%&'(@(A.#+&%&'(M#Q.=(

/%Q.K!P!+!A@!L($8)*.!!

"8%%*.)*4!=3D:!!#+-%9%>#&-=K!6P!+!B@!

CX8(0=*$)K!B!W8%%;($%!53;;.!3$4!$3=*!534%*.!

L9-%:%-$(".:."K!_3')(<(03$).!&(;;!5*!)/'#&($%!3$4!<3)</($%c!3$4!$**4!)#!5*!35;*!.0*3-!3$4!/*3'!#$*!

3$#)/*'e.!$3=*.!

(

8N>"#&#-%*&Y(

^/(.!(<*5'*3-*'!%*$*'3)*.!3!;#)!#7!*$*'%9!3$4!8.83;;9!0;*$)9!#7!;38%/.:!

S*)!)/*!03')(<(03$).!($)#!3!<('<;*l!3.-!)/*=!08)!#$!$3=*!534%*.:!

CD0;3($! )/3)! )/*9!&(;;! 5*! 03..($%! )/*! W8%%;($%! 53;;! 3'#8$4! )/*! %'#80! 59!=3-($%! *9*! <#$)3<)!&()/!

3$#)/*'! 0*'.#$! <3;;($%! )/*('! $3=*! 3$4! )/*$! )/'#&($%! )/*! 53;;! )#! )/*=:! [f#8! =(%/)! &3$)! )#!

*=0/3.(.*!8$4*'3'=!#$;9\:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

A@!

_3..!)/*!53;;!3'#8$4!)/*!%'#80!7'#=!#$*!0*'.#$!)#!)/*!$*D)!3$4!3.-!*3</!0*'.#$!)#!.39!)/*('!$3=*!

3;#84!3$4!#$*!73<)!35#8)!)/*=.*;Q*.:!

,/*$!)/*!53;;!<#=*.!53<-!)#!9#8c!0(<-!.#=*#$*!*;.*!#8)c!=3-*!*9*!<#$)3<)c!<3;;! )/*('!$3=*!3$4!

)/*$!)/'#&!)/*=!)/*!W8%%;($%!53;;:!

G$<*! )/*9! .)3')! )#! %*)! )/*! /3$%! #7! ()! ($)'#48<*! )/*! .*<#$4! W8%%;($%! 53;;! 3$4! )/*$! )/*! )/('4:! ! V.!

73<(;()3)#'c!&3)</!)#!=3-*!.8'*!)/3)!*Q*'9#$*!%*).!3!%#:!

!

BJ(A*&'.+(8N.+9%=.=(

!

BJDJ(A%=-.&%&'(8N.+9%=.!

/%Q.K!6@!=($8)*.!+!80!)#!6@!03')(<(03$).c!)/*!=#'*!)/*!5*))*':!

8[7%>Q.&-K!

• ^&#!VA!7;(0</3')!./**).!&()/!;($*!4'3&($%.!#7!3!.(=0;*!.<*$*

• L($(1&/()*5#3'4.!3$4!=3'-*'!0*$.!7#'!/3;7!)/*!03')(<(03$).!

L9-%:%-$(".:."K!*D<()*=*$)!58)!$#!=#Q*=*$)!

!

8N>"#&#-%*&Y(

_3')(<(03$).!3'*!03('*4!3$4!.*3)*4!($!3!;#$%!;($*!53<-1)#153<-!&()/!)/*('!03')$*'.:!

G$*!.(4*!<3$!.**!)/*!;($*!4'3&($%!3$4!3;;!.(=8;)3$*#8.;9!4*.<'(5*!()!)#!)/*('!03')$*'l!3$95#49!8.($%!

)/*!$3=*.!#7!)/*!)/($%.!4*0(<)*4![*:%:!a()e.!3!5#3)!3$4!)/*'*e.!3!.8$!($!)/*!800*'!'(%/)!<#'$*'b\! (.!

4(.X83;(7(*4:!

_3')$*'.!<'*3)*!)/*('!#&$!;($*!4'3&($%!53.*4!#$!)/*!($7#'=3)(#$!0'#Q(4*4:!

!

BJBJ(8N>"*+%&'(I*QQ*&(,&-.+.=-=(

/%Q.K!A@!=($8)*.!

"8%%*.)*4!=3D!!#+-%9%>#&-=K!A@!m![&#'-.!5*))*'!&()/!;3'%*'!%'#80.\!

8[7%>Q.&-K!03')(<(03$).!&(;;!$**4!0*$!3$4!030*'c!)&#!0'(k*.!

L9-%:%-$(".:."K!03')(<(03$).!&(;;!$**4!)#!5*!35;*!)#!=#Q*!3'#8$4!3$4!)3;-!)#!#$*!V$#)/*':!

(

8N>"#&#-%*&Y(

CD0;3($! )#! )/*! %'#80! )/3)! )/*9! =8.)! 7($4! )/'**! 4(77*'*$)! 0*#0;*! ($! )/*! '##=! )/3)! )/*9! ./3'*!

.#=*)/($%!($!<#==#$:!^/*.*!73<)#'.!=8.)!$#)!5*K!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

AA!

1!"#=*)/($%!Q(.(5;*!+!*:%:!5#)/!=*$c!5#)/!/3Q*!/*34.!

1!J#$$*<)*4!)#!)/*('!.#$%&'()($%!

^/*!7('.)!0*'.#$!53<-!)#!)/*!7'#$)!&()/!3;;!)/'**!)/($%.!&'())*$!4#&$!&($.!3!0'(k*:!

S(Q*!#$*!#8)!7#'!)/*!=#.)!8$8.83;!)/($%!)/3)!)&#!0*#0;*!/3Q*!($!<#==#$:(

(

(

,,J(;*&'5+%-%&'(8N.+9%=.=(

!

DJ(;*&'5+%-%&'(I%+9".=(

#J(,&-+*279-%*&(

^/*!*..*$<*!#7!3!.#$%&'()($%!<('<;*!(.!)#!0'#Q(4*!3$!#00#')8$()9!7#'!03')(<(03$).!)#!0'*.*$)!3!.#$%!

)/3)! )/*9! /3Q*! &'())*$! 3$4! 7#'! )/*! #)/*'! 03')(<(03$).! )#! )/*$! 0'#Q(4*! )/*=! &()/! <#$.)'8<)(Q*!

7**453<-:!

G$*!0*'.#$!./#8;4!5*! ($!</3'%*!#7!)/*!0'#<*..!4*<(4($%!/#&!=8</!)(=*!./#8;4!5*!%(Q*$!)#!*3</!

.#$%!3$4!'*%8;3)($%!3$4!.8==3'(.($%!)/*!7**453<-:!

V! .#$%&'()($%! <('<;*! <3$! 5*! 3.! .(=0;*! 3.! .#=*#$*! .($%($%! 3! .#$%! 3$4! )/*! #)/*'.! ($! )/*! <('<;*!

<#==*$)($%:! ^/(.! ($! ().*;7! (.! &#')/&/(;*! 3$4! <3$! 5*! 3! %##4! Q*/(<;*! 7#'! 7**453<-:! ^/*! *=0/3.(.!

./#8;4!3;&39.!5*!#$!<#$.)'8<)(Q*!<'()(<(.=!3$4!<3'*!./#8;4!5*!)3-*$!$#)!)#!5*!$*%3)(Q*!*.0*<(3;;9!

&/*$!0'#Q(4($%!7**453<-!)#!'*;3)(Q*!5*%($$*'.:!

^/*'*! <3$! 5*! =3$9! Q3'(3)(#$.! #$! )/(.! )/*=*:! ! ,*! 3'*! .*))($%! #8)! 5*;#&! 3! =#'*! .#0/(.)(<3)*4!

300'#3</c!&/(</!(.!;(-*;9!)#!5*!=#'*!5*$*7(<(3;:!

^/*!0*'.#$!0'*.*$)($%!)/*!.#$%!0'#Q(4*.!*3</!#7!)/*!03')(<(03$).!3!<#09!#7!)/*! ;9'(<.!#7!)/*!.#$%:!

,/(;*!)/*!.#$%!(.!5*($%!0'*.*$)*4!)/*!;(.)*$*'.!&'()*!4#&$!)/*('!($()(3;!(=0'*..(#$.!3$4!)/*.*!7#'=!

)/*!53.(.!7#'!4(.<8..(#$!#7!)/*!.#$%:!

^/*!4(.<8..(#$!<3$!5*!*D)*$4*4!)#!($<;84*!3!4*)3(;*4!3$3;9.(.!#7!)/*!)*D)c!)/*!=8.(<3;!<#$)*$)!3$4!

)/*!.)'8<)8'*!#7!)/*!.#$%:!!J#==*$).!3$4!.8%%*.)(#$.!<3$!5*!=34*!#$!)/*!53<-!#7!)/*!;9'(<!./**):!

V$9!7($3;!)/#8%/).!<3$!3;.#!5*!344*4:!^/*!;9'(<!./**).!3'*!)/*$!<#;;*<)*4!3$4!%(Q*$!)#!)/*!0'*.*$)*'!

#7!)/*!.#$%:!

,*!&(./! )#! .)'*..! )/3)! )/*!03')(<(03$)e.! #0($(#$.!3$4! .8%%*.)(#$.!3'*!#$;9! ($4(Q(483;! .8%%*.)(#$.!

3$4!#0($(#$.!3$4!)/3)!8;)(=3)*;9!()!(.!)/*!.#$%&'()*'!&/#!(.!'*.0#$.(5;*!7#'!)/*('!#&$!.#$%:!

E7!9#8!&(./!)#!<3''9!#8)!3!=#'*!4*)3(;*4!3$3;9.(.!#7!3!.#$%!9#8!<3$!8.*!)/*!.</*48;*!5*;#&!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

A6!

3J(P#9-*+=(-*(9*&=%2.+(%&(#&#"$=%&'(#(=*&'(%&(2.-#%"!

1**4(\(/%-".(\(,2.#!

A: `#*.!9#8'!)();*!($.)3$);9!%'35!3!;(.)*$*'n.!3))*$)(#$!5*<38.*!()!(.!7'*./!3$4!($)*'*.)($%M!6: E.!)/*!/##-!7'**!#7!<;(</oM!B: E.!)/*!/##-!0;3<*4!($!3!0#&*'!0#.()(#$M!?: E.!9#8'!/##-!'*0*3)*4M!P: `#*.!9#8'!/##-!.8=!80!)/*!.)#'9!#'!7**;($%!#7!9#8'!.#$%M!

!

K."*2$!

A: E.!)/*!=*;#49!<3)</9!3$4!*3.9!)#!'*=*=5*'!3$4!.($%!*Q*$!&()/#8)!;9'(<.M!6: `#*.!)/*!=*;#49!*=0;#9!'*0*)()(#$M!B: E.!)/*'*!0'#.#49!5*)&**$!)/*!=*;#49!3$4!;9'(<M!`#*.!)/*!7**;!#7!)/*!=*;#49!3$4!)/*!)*=0#!

#7!)/*!=8.(<!=3)</!)/*!=*3$($%!#7!)/*!&#'4.M!?: `#*.!)/*!=*;#4(<!'/9)/=!</3$%*!($!*3</!03')!#7!)/*!.#$%!.)'8<)8'*M![O*'.*></#'8.>5'(4%*\!P: V'*!)/*!(=0#')3$)!&#'4.!($!)/*!;9'(<!0;3<*4!($!)/*!0#&*'!0#.()(#$.!#7!)/*!=*3.8'*![5*3)!A!#'!

B\!#'!#$!;#$%*'!$#)*!48'3)(#$.M!!

A$+%9!

A: `#*.!)/*!Q*'.*!;9'(<!;*34!)/*!;(.)*$*'!4('*<);9!)#!)/*!</#'8.M!6: E.!)/*!;9'(<!4*)3(;*4!3$4!78;;!#7!7'*./!(=3%*'9M!B: `#*.!)/*!;9'(<!.#8$4!$3)8'3;!3$4!<#$Q*'.3)(#$3;M!?: `#*.!)/*!;9'(<!*77*<)(Q*;9!*=0;#9!'/9=*.M!!P: `#*.!)/*!;9'(<!4'3&!)/*!;(.)*$*'!($)#!)/*!.)#'9c!59!./#&($%!($.)*34!#7!)*;;($%!/#&!)/*!.($%*'!

7**;.M!R: `#*.!)/*!;9'(<!/3Q*!#$*!7#<8.*4!(4*3M!T: E.!)/*!;9'(<!<#$<(.*!3$4!$#)!)##!&#'49!#'!/3Q*!)##!=3$9!.9;;35;*.!)#!5*!=*;#4(<M!Y: `#*.!)/*!;9'(<!=3-*!)/*!.($%*'!;##-!%##4!3$4!$#)!<38.*!/(=!#'!/*'!)#!;##-!534M!h: V'*!)/*!;9'(<.!*3.(;9!'*;3)35;*!3$4!$#)!)##!0*'.#$3;M!A@: `#*.!)/*!;9'(<!*=0;#9!=*)30/#'.!#'!.(=(;*.!3$4!<3''9!)/*!(=3%*'9!)/'#8%/!)/*!.#$%M!

!

;-+79-7+.!

A: E.!)/*!=*;#49!)/*!.3=*!58)!)/*!;9'(<.!4(77*'*$)!#$!*3</!Q*'.*M!6: E.!)/*!'/9=*!.)'8<)8'*!<#$.(.)*$)!7'#=!Q*'.*!)#!Q*'.*M!B: E.!)/*!=*)*'!#7!)/*!;9'(<!<#$.(.)*$)!7'#=!Q*'.*!)#!Q*'.*M!?: `#*.!=*)*'!#7!)/*!;9'(<!</3$%*!7'#=!Q*'.*!)#!</#'8.!#'!5'(4%*M!P: V'*!)/*!</#'4!</3$%*.!)/*!.3=*!($!*3</!Q*'.*M!R: E.!)/*!.#$%!7#'=!)/3)!#7!3!.)3$43'4!0#08;3'!.#$%M!!T: `#*.!)/*!Q*'.*!;9'(<!)*;;!)/*!.)#'9!3$4!34Q3$<*!)/*!(4*3M!Y: V44()(#$3;!0#($).!)#!</*<-!4*0*$4($%!#$!)/*!.#$%!7#'=K!

V:!O*'.*c!O*'.*c!O*'.*!• E.!)/*!)();*>/##-!($!)/*!7('.)!#'!;3.)!;($*![0#&*'!0#.()(#$.\!($!*3</!Q*'.*M!

N:!O*'.*c!O*'.*c!N'(4%*c!O*'.*!• E.!)/*!)();*>/##-!($!)/*!7('.)!#'!;3.)!;($*![0#&*'!0#.()(#$.\!($!*3</!Q*'.*M!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

AB!

• E.!)/*!5'(4%*!3!4*03')8'*!7'#=!)/*!Q*'.*!=8.(<3;;9M!• E.!)/*!5'(4%*!3!4*03')8'*!7'#=!)/*!Q*'.*!;9'(<3;;9M!• E.!)/*!5'(4%*!3!4*03')8'*!7'#=!)/*!Q*'.*!'/9)/=(<3;;9M!• V'*!)/*!</#'4!</3$%*.!4(77*'*$)!($!)/*!5'(4%*M!

J:!O*'.*c!J/#'8.c!O*'.*!J/#'8.!• E.!)/*!</#'8.!)/*!<3)</(*.)!03')!#7!)/*!.#$%M!• `#*.!)/*!</#'8.!<#$)3($!)/*!)();*>/##-M!• E.!)/*!</#'8.!)/*!.3=*!=8.(<3;;9!3$4!;9'(<3;;9!*3</!)(=*M!• E.!)/*!</#'8.!3!.8==3)(#$!#7!)/*!(4*3M!• E.!)/*!</#'8.!3!4*03')8'*!7'#=!)/*!Q*'.*!=8.(<3;;9M!• E.!)/*!</#'8.!3!4*03')8'*!7'#=!)/*!Q*'.*!;9'(<3;;9M!• E.!)/*!</#'8.!3!4*03')8'*!7'#=!)/*!Q*'.*!'/9)/=(<3;;9M!• V'*!)/*!</#'4!</3$%*.!4(77*'*$)!($!)/*!</#'8.M!• `#*.!)/*!'/9=*!.)'8<)8'*!</3$%*!($!)/*!</#'8.M!

`:!O*'.*c!J/#'8.c!O*'.*!J/#'8.c!N'(4%*c!J/#'8.!• E.!)/*!</#'8.!)/*!<3)</(*.)!03')!#7!)/*!.#$%M!• `#*.!)/*!</#'8.!<#$)3($!)/*!)();*>/##-M!• E.!)/*!</#'8.!)/*!.3=*!=8.(<3;;9!3$4!;9'(<3;;9!*3</!)(=*M!• E.!)/*!</#'8.!3!.8==3)(#$!#7!)/*!(4*3M!• E.!)/*!</#'8.!3$4!5'(4%*!3!4*03')8'*!7'#=!)/*!Q*'.*!=8.(<3;;9M!• E.!)/*!</#'8.!3$4!5'(4%*!3!4*03')8'*!7'#=!)/*!Q*'.*!;9'(<3;;9M!• E.!)/*!</#'8.!3$4!5'(4%*!3!4*03')8'*!7'#=!)/*!Q*'.*!'/9)/=(<3;;9M!• V'*!)/*!</#'4!</3$%*.!4(77*'*$)!($!)/*!</#'8.!3$4!5'(4%*M!• `#*.!)/*!'/9=*!.)'8<)8'*!</3$%*!($!)/*!</#'8.!3$4!5'(4%*M!• E.!)/*!5'(4%*!)/*!<;(=3D!#7!)/*!.#$%M!

!

S+%'%&#"%-$!

A: E.!)/*!.)#'9!#'(%($3;M!6: E.!)/*!=*;#49!7'*./!3$4!4#*.$n)!.#8$4!;(-*!3$#)/*'!.#$%M!B: E.!)/*!/##-!#'!)();*!7'*./!3$4!4#*.!$#)!.#8$4!<;(</oM!

!

/+7-0!

A: `(4!)/*!.#$%!=3-*!9#8!;38%/!#'!<'9M!6: E.!)/*!.)#'9!3$4!3'*!</3'3<)*'.!5*;(*Q35;*M!B: E.!)/*'*!*$#8%/!<#$)'3.)!5*)&**$!)/*!.*<)(#$.!)#!58(;4!)#!3$!*=#)(#$3;!<;(=3DM!?: `#*.!)/*!;9'(<!3;;#&!)/*!;(.)*$*'!)#!*=03)/(k*!&()/!)/*!.($%*'M!

(

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

A?!

BJ(I*(E(5+%-%&'(@("**!3;.#!)/*!*D0;3$3)(#$.!($!#8'!J#1,'()($%1N##-!

[&&&:.#==*'<3=0:3)>0?(6>0?(>_'#48<)p7(;*.>J#,'()*.:047\!

(

#J(,&-+*279-%*&(

J#1&'()($%!($!)/(.!<#$)*D)!(.!)/*!)3.-!#7!)&#!#'!=#'*!0*#0;*!&'()($%!3!.#$%!)#%*)/*':!^/*'*!3'*!)&#!

4(77*'*$)!)90*.!#7!<#1&'()*.K!

• V!<#1&'()*c!&/(</!(.!($()(3)*4!5*<38.*!)/*!03')(<(03$).!$**4!3!$*&!.#$%!7#'!)/*('!'*0*')#('*!

#'!&'()*!()!7#'!3$#)/*'!3')(.):!

• V!<#1&'()*c!&/(</!(.!($()(3)*4!3.!3$!*D*'<(.*!)#!3;;#&!./3'($%!#7!-$#&;*4%*c!*D0*'(=*$)3)(#$!

#'!)'3($($%:!

!

^/*!7('.)!(.!#7)*$!<#==*'<(3;!($!$3)8'*!3$4!)/*!48'3)(#$!#7!)/*!<#1&'()*!#7)*$!;#$%*'!)/3$!)/*!;3))*':!

^/*!35#Q*!4(.)($<)(#$!(.!$3)8'3;;9!7;8(4!3$4!)/*!.*<#$4!<3$!*Q#;Q*!($)#!)/*!7('.):!!

J#1&'()($%!3.!3!&#'-./#0!*D*'<(.*!(.!&/3)!&*!&(;;!4*.<'(5*!($14*0)/!($!)/(.!/3$45##-:!^/*!7('.)!)/($%!

)#! <#$.(4*'!&/*$! <#1&'()($%! 3)! 3! &#'-./#0! (.! /#&!=3$9! ./#8;4! 5*! #$! )/*! ($4(Q(483;! <#1&'()($%!

)*3=.c! )&#! (.! $#'=3;;9! )/*! 5*.)! $8=5*'c! 58)! )/'**! #'! *Q*$! 7#8'! (.! 4#35;*:!,()/!=#'*! )/3$! )&#!

0*#0;*!*D)'3!<3'*! (.!$**4*4!)#!=3-*!.8'*!)/3)!3;;!03')(<(03$).! 7**;! ($<;84*4!3$4!<#$)'(58)*!)#!)/*!

<#1&'()*:!!

!

3J(;.".9-%&'(-0.(-.#Q=(

E$!)*3=!.*;*<)(#$c!.#=*!7#'=!#7!'3$4#=!0'#<*..!(.!#7)*$!)/*!5*.)!&39!)#!4#!()c!)/(.!*$.8'*.!)/3)!$#1

#$*! 7**;! '*W*<)*4! 3$4! ()! <3$! <'*3)*! 8$*D0*<)*4! .9$*'%(*.! 5*)&**$! .#$%1&'()*'.! &/#! &#8;4! $#)!

$#'=3;;9!&'()*!3!.#$%!)#%*)/*':!"#=*)(=*.c!()!(.!5*$*7(<(3;!)#!4(Q(4*!)/*!&#'-./#0!3))*$4**.!($)#!3!

<#80;*!#7!%'#80.c! 7#'!*D3=0;*!4*0*$4($%!#$!&/(</!;3$%83%*!)/*9!&(./!)#!<#1&'()*!($c!#'!%*$'*!#7!

=8.(<:!

G7!<#8'.*!'3$4#=!.*;*<)(#$!#7!)*3=.! (.!$#)!3;&39.!0#..(5;*c!3$4! ($!.#=*!<3.*.!$#)!4*.('35;*c!58)!

&/*$!($!4#85)c!%#!7#'!)/*!'3$4#=!)*3=!.*;*<)(#$:!

!

9J(]7+#-%*&(

^/*! (4*3;! )(=*!7#'!3!<#1&'()($%!*D*'<(.*!7#'!3!'*%8;3'!&#'-./#0! (.!35#8)!3$!/#8':!^/(.!&(;;!4*0*$4!

80#$!)/*!$3)8'*!#7!)/*!&#'-./#0!3$4!()!&(;;!3;.#!4*0*$4!80#$!#)/*'!)(=*!<#$.)'3($).:!,**-*$4!3$4!

;#$%*'!&#'-./#0.!<3$!3;;#&!=#'*!)(=*:(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

AP!

U#'! 3! &#'-./#0! <#1&'()*c! 3! ;(=()3)(#$! #$! )(=*! (.! *..*$)(3;! 7#'! .*Q*'3;! '*3.#$.:! U('.)! #7! 3;;c! )/*!

&#'-./#0!$3)8'3;;9!$**4.!5#8$43'(*.!.*<#$4;9!(7!)/*!&#'-./#0!(.!$#)!3$!37)*'$##$!4*4(<3)*4!)#!<#1

&'()($%!)/*$!)(=*!&(;;!$**4!)#!5*!3;;#<3)*4!)#!#)/*'!.*..(#$.:!V;.#!;(=()($%!)/*!)(=*!7#'!3!<#1&'()*!

<3$!3<)!3.!3!<3)3;9.)!7#'!*$/3$<($%!($.0('3)(#$:!U($3;;9c!(7!)/*!&#'-./#0!3;;#&.!7#'!=#'*!)/3$!#$*!<#1

&'()*! .*..(#$c! )/*$! /3Q($%! )/*! ($4(Q(483;! <#1&'()($%! .*..(#$.! )/3)! 3'*! $#)! )##! ;*$%)/9! <3$! #77.*)!

(=03<)!#7!'3$4#=!.*;*<)*4!)*3=.!)/3)!3'*!$#)!'*3;;9!&#'-($%!5*<38.*!#7!0*'.#$3;()9!#'!#)/*'!(..8*.:!

U#'!3!&#'-./#0!/3Q($%!=#'*!)/3$!#$*!<#1&'()*!&*!.8%%*.)!48'3)(#$!.#=*&/*'*!($!)/*!'3$%*!#7!6!)#!

?!/#8'.:!

!

2J(?.--%&'(;-#+-.2(

2*'*!3'*!3!7*&!4(77*'*$)!&39.!)#!.)3')($%!3!<#1&'()*!.*..(#$K!

1! ^/*! 03')(<(03$).!&'()*! 3! $8=5*'! #7!&#'4.! #$! .=3;;! 0(*<*.! #7! 030*'! 3$4! 08)! )/*=! ($! 3! W3':! ^/*!

&#'4.!3'*!./877;*4!3$4!*3</!)*3=!4'3&!)&#!#'!)/'**!&#'4.:!^/*!4'3&$!&#'4.!./#8;4!)/*$!5*!($!)/*!

7($3;!.#$%!#7!)/*!)*3=:!V!.;(%/)!Q3'(3)(#$!#7!)/(.!=*)/#4!(.!)/*!'8;*!&/*'*!#$;9!)&#!#7!)/'**!&#'4.!

/3Q*!)#!5*!($!)/*!.#$%:!V$#)/*'!Q3'(3)(#$!(.!)#!&'()*!<#$<*0).c!.*$)*$<*.!#'!#)/*'!./#')!4*.<'(0)(#$.!

#7!(4*3.!#$!)/*!0(*<*.!#7!030*':!!

1!V$#)/*'!&39!)#!%(Q*!)/*!.)3')($%!($.0('3)(#$!7#'!3!<#1&'()*!.*..(#$!(.!)#!.*$4!)/*!)*3=.!#8)!($)#!)/*!

.8''#8$4($%!3'*3!)#!7($4!&#'4.!7#'!)/*('!.#$%:! ! E)! (.!3;.#!3$!#0)(#$!)#!4*7($*!3!)#0(<!)/3)!3;;!.#$%.!

./#8;4!5*c! 7#'!*D3=0;*!3!J/'(.)=3.!.#$%!#'!3!.#$%!35#8)! ;#Q*c! </(;4/##4!=*=#'(*.!#'!3$9!#)/*'!

.85W*<)!(=3%($35;*:!

!

.J(8&2%&'(-0.(9*@5+%-.(=.==%*&(

,/*$!)/*!)(=*!(.!3;;#<3)*4!7#'!)/*!<#1&'()*c!! ()!(.!3!%##4!(4*3!)#!/3Q*!3!0'*.*$)3)(#$!3)!)/*!*$4!.#!

)/3)! 3;;! 03')(<(03$).! %*)! 3! </3$<*! )#! 0'*.*$)! )/*('! .#$%.! 3$4! )#! /*3'! )/*! '*.8;).! 7'#=! )/*! #)/*'!

)*3=.:!^/(.!3;.#!/*;0.!-**0!.0('().!80!48'($%!)/*!<#1&'()*:!

!

)J(P7+-0.+(9*&=%2.+#-%*&=(

G$*!#7!)/*!'(.-.!#7!;##-($%!7#'!)#0(<.!7#'!&#'-./#0!(.!)/3)!.#=*!#7!)/*!.#$%!)#0(<.!0'#48<*4!=39!5*!

#$;9!.8()*4!7#'!)/*!.0*<(7(<!#<<3.(#$:!^'9!3$4!3Q#(4!)#0(<.!.8</!3.!3!.#$%!35#8)!/#&!4'8$-!&*!%#)!

9*.)*'439c!/#&!=*3.;9! )/*!&*3)/*'! (.c!/#&!4(77(<8;)! ()! (.! )#! 7($4!3! )#0(<! )#!&'()*!3! .#$%!35#8)!#'!

.#=*)/($%! #7! )/(.! .#'):! G$*! )/($%! )/3)! <3$! /*;0! =($(=(k*! )/(.! (.! )#! =3-*! .8'*! 59! 4('*<)(#$! #'!

($)*'Q*$)(#$!)/3)!)/*!&#'4.!($!)/*!W3'!3'*!#7!3!%##4!X83;()9:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

AR!

V$#)/*'!<#$.(4*'3)(#$! (.! )/3)!$#)!3;;!<#1&'()*.!&(;;!5*!7($(./*4!&/*$!)/*!3;;#))*4!)(=*!/3.!03..*4!

3$4!=#.)!03')(<(03$).!&(;;!&3$)!)#!7($(./!)/*('!.#$%:!"#!()!(.!3!%##4!(4*3!)#!/3Q*!7'**!)(=*!48'($%!)/*!

&#'-./#0!&/*'*!)/*.*!8$7($(./*4!.#$%.!<3$!5*!0'#%'*..*4:!

!

'J(I0#"".&'.=(

E7!)/*!03')(<(03$).!#7!)/*!&#'-./#0!/3Q*!Q*'9!4(77*'*$)!*D0*'(*$<*>.-(;;!;*Q*;.c!)/*!'3$4#=!.*;*<)(#$!

#7!)*3=.!=(%/)!$#)!5*!)/*!5*.)!.#;8)(#$:!23Q($%!3!Q*'9!.-(;;*4!.#$%&'()*'!<#1&'()*!&()/!3!$*&<#=*'!

=3-*.!.*$.*!&/*$!)/*!%#3;!#7!)/*!&#'-./#0! (.!%*))($%!$*&!.#$%1&'()*'.!)'3($*4c!3$4!3<)83;;9!)/*!

)'3($**!.#$%&'()*'!#7)*$!%3($.!($.0('3)(#$:!2#&*Q*'c!)/*!.-(;;*4!.#$%&'()*'!&(;;!=#.)!;(-*;9!&3$)!)#!

<#1&'()*!&()/!3$#)/*'!.-(;;*4!.#$%&'()*':!2#&*Q*'c!3!$*&<#=*'!#$;9!)*3=!&(;;!=#.)!;(-*;9!.)'8%%;*!

3$4!$#)!%*)!)/*!5*$*7()!#7!3!<#1&'()*:!

!

"#=*)(=*.!3!)*3=!)/3)! (.!.*;*<)*4!.(=0;9!4#*.!$#)!&#'-:! E7! )/*!<#1&'()*! (.!./#')! ()! (.!$#)!3!=3W#'!

0'#5;*=!58)!(7!)/*'*!(.!#$;9!#$*!<#1&'()*!()!<3$!=3-*!.*$.*!)#!)'9!)#!7(D!()!.#=*!&39!#'!3$#)/*':!!

(

0J(6*$#"-%.=(

V.!3!%*$*'3;!'8;*c!&/*$!)&#!0*#0;*!<#=*!)#%*)/*'!)#!&'()*!3!.#$%!)/*9!3%'**!)#!./3'*!3$9!'#93;)(*.!

)/3)!=39!3<<'8*!P@>P@c!7&".==(-0.$(#'+..(*-0.+5%=.:!E7!#$*!0*'.#$!&'()*.!)/*!=*;#49!3$4!3$#)/*'!

&'()*.! )/*! ;9'(<.c! )/*$! P@>P@! (.! 3! 73('! .0;():! E7! #$*! 0*'.#$!&'()*.! )/*!=*;#49! 3$4! )/*9! ./3'*! )/*!

&'()($%!#7!)/*!;9'(<.c!)/*$!TP>6P!=39!5*!3$!300'#0'(3)*!.0;():!!E7!)/*9!5#)/!./3'*!($!)/*!&'()($%!#7!)/*!

;9'(<.!3$4!)/*!=*;#49!)/*$!&*!3'*!53<-!)#!P@>P@:!

!

E7! 9#8!&(./! )#!4*;Q*!4**0*'! ($)#! )/*! 7#'=3;()(*.! 3$4! ;*%3;()(*.!#7! <#1&'()($%!9#8!<3$!#8)! )/*! ;($-.!

5*;#&!

L8.(<(3$.!d$(#$!"0*<(=*$!<#1&'()($%!3%'**=*$)K!!• &&&:3#')3.:#'%:8->VGZ^V">Z*.#8'<*.p3$4p;($-.p7(;*.>A:1J#1,'()($%1V%'**=*$):047!!

I#)*.!)#!<#1&'()($%!3%'**=*$)K!• &&&:3#')3.:#'%:8->VGZ^V">Z*.#8'<*.p3$4p;($-.p7(;*.>A3:1I#)*.1)#1J#1,'()($%1

V%'**=*$):047!!"**!3;.#!

• &&&:W3$(.(3$:<#=>'*34($%><#&'()($%:0/0!• &&&:&(D*$=8.(<:<#=><#&'()*'.:/)=!

(

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

AT!

%J(I#=.(;-72$Y!1*5(,(#>>+*#90(I*@5+%-%&'(G8N#Q>".(*)(/*&$(XL6]SM^(,+."#&2H(

aCQ*$!)/#8%/!)/*!*..*$)(3;.!3'*!)/*!.3=*c!<#1&'()($%!<3$!5*!3!)#)3;;9!4(77*'*$)!*D0*'(*$<*!)#!&'()($%!

3!.#$%!#$!9#8'!#&$:! !V$4! W8.)!3.!0*#0;*!3'*!4(77*'*$)!<#1&'()($%! (.!3.!4(77*'*$)!3.!)/*!$8=5*'!#7!

4(77*'*$)!0*#0;*!&()/!&/#=!9#8!<#1&'()*:!

L9!300'#3</! (.! )#!-**0!3$!#0*$!=($4:!V! ;#)!&(;;!4*0*$4!#$!)/*!7'3=*&#'-! ($!&/(</!)/*!<#1&'()*!

*D*'<(.*! (.! <3''(*4! #8):!,/*)/*'! 9#8! 3'*! %(Q*$! 3! .0*<(7(<! )#0(<! #'! .0*<(7(<!&#'4.c!&/(</!=8.)! 5*!

($<;84*4!($!)/*!.#$%!9#8!3'*!)#!0'#48<*:!2#&*Q*'c!.#=*)(=*.!)&#!0*#0;*!%*)!)#%*)/*'!&()/!3!5;3$-!

./**)!#7!030*'!3$4!4*<(4*!)/3)!)/3)!)/*9!&3$)!)#!&'()*!3!.#$%:!

G$*!#7!)/*!5*$*7().!#7!<#!&'()($%!(.!)/3)!()!*$35;*.!9#8!)#!&'()*!.#$%.!)/3)!9#8!&#8;4!$*Q*'!&'()*!#$!

9#8'!#&$:!C()/*'c!5*<38.*!9#8!&#8;4!$*Q*'!/3Q*!344'*..*4!3!03')(<8;3'!)#0(<!#'!9#8!4#!$#)!/3Q*!

)/*!=8.(<!.-(;;.!#'!)/*!;9'(<!&'()($%!.-(;;.!)/3)!9#8'!03')$*'!/3.:!

E!)/($-!()!(.!(=0#')3$)!)/3)!3.!73'!3.!0#..(5;*!9#8!0;39!)#!9#8'!'*;3)(Q*!.)'*$%)/.:!E7!E!3=!&'()($%!&()/!3!

%(7)*4!=8.(<(3$!)/*$! E! )*$4!)#! ;*)!)/*=!7#<8.!#$!)/*!=8.(<!3$4! E! 7#<8.!#$!)/*! ;9'(<.:! E7! Ee=!&'()($%!

&()/!.#=*#$*!&/#!/3.!;(=()*4!=8.(<3;!35(;()9!)/*$!E!)*$4!)#!7#<8.!#$!)/*!=*;#49:!

E$! =9! *D0*'(*$<*! <#1&'()($%! (.! 35#8)! <#=0'#=(.*:! N*<38.*! 0*#0;*! 3'*! 4(77*'*$)! )/*9! &(;;! /3Q*!

4(77*'*$)!(4*3.!3.!)#!&/3)!&(;;!&#'-!($!3!.#$%:!^/*$!'#;*!#7!<#1&'()*'.!./#8;4!5*!)#!</3;;*$%*!*3</!

#)/*'!.#!)/3)!)/*9!<3$!5'($%!#8)!)/*!5*.)!($!*3</!#)/*':!E!7($4!)/3)!E!$**4!)#!5*!7;*D(5;*!3$4!3)!)/*!

.3=*! )(=*! E! $**4! )#! 5*! .)'#$%! (7! E! 7**;! )/3)! E! /3Q*! 3!%##4!=*;#49! #'! 3! %##4! ;($*! )/3)! ./#8;4! 5*!

($<#'0#'3)*4!($!)/*!.#$%:!

I#)!3;;! <#1&'()*.!&(;;! *$4!80! ($! )/*!0'#48<)(#$!#7!3$!3<<*0)35;*! .#$%!3$4! )/(.! (.! )#!5*!*D0*<)*4:!

"#=*!0*#0;*!W8.)!<3$e)!&#'-!&*;;!)#%*)/*':!E!5*;(*Q*!)/3)!#$*!#7!)/*!=3($!5*$*7().!#7!<#1&'()($%!(.!

)/3)! ()! 5'($%.! 9#8! #8).(4*! 9#8'! <#=7#')! k#$*! )/3)! ()! .)'*)</*.! 9#8! ($! 9#8'! .#$%&'()($%! 3<)(Q()(*.:!

^/*$c!&/*$!9#8!%*)!53<-! )#!&'()($%!9#8'!#&$!.#$%.!9#8!/3Q*!$*&! ($.(%/).!3$4!$*&!*D0*'(*$<*.!

&/(</!<3$!#$;9!*$/3$<*!9#8'!.#$%&'()($%!35(;()(*.:b!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

AY!

FJ(;*&'5+%-%&'(I#=.(;-72$Y(L9!/*3')!(.!MM!1!CD*'<(.*![";#Q*$(3c!L39!6@A6\!

N*;#&! (.! 3! <3.*! .)849! ($! &/(</! 3! Q(.()($%! 7*=3;*! 0#*)c! JQ*)-3! N*Q<c! ($Q()*4! 3! ;3'%*! <('<;*! #7!

.#$%&'()*'.!)#!<#=0;*)*!3!./#')!0/'3.*!($)#!78;;!.*$)*$<*.!#7!0'#.*!#'!0#*)'9K!

23Q($%!4(.<8..*4!'/9)/=c!*3</!0*'.#$!($!)/*!<('<;*!<#=0;*)*4!)/*!.*$)*$<*!&()/!)&#!.9;;35;*.c!)/*!

7#<8.!5*($%!)#!=3($)3($!3!.*)!'/9)/=c!'3)/*'!)/3$!<#=*!80!&()/!5*38)(78;!0#*)'9:!V7)*'&3'4.c!&*!

*3</!.3)!4#&$!)#!<#=0;*)*!)/*!0/'3.*!($!#8'!#&$!;3$%83%*.:!

2*'*!(.!3$!*D3=0;*!#7!&/3)!<3=*!7'#=!)/(.!7(Q*1)#1)*$1=($8)*!*D*'<(.*!3$4!)/*!.#$%!)/3)!'*.8;)*4:

,2.#=Y(

aL9!/*3')e.!3!&#'$1#8)!.;**Q*l!.)877*4!3$4!.)()</*4!7'#=!4(.03'3)*!5().!

_3)</*4!80!)(%/);9!.#!()!7().!3$4!;#<-*4!.#!$#)/($%!;*3Q*.!

L9!;8$%.!3'*!;(-*!3!.(*Q*l!"&(..!</**.*!3('53%.c!78;;c!)/*9!.(7)!

V$4!.#')!)/*!534!7'#=!)/*!%##4!5().c!&()/#8)!)/*=!E!<3$e)!5'*3)/*:b!

!

F3)*'!($!)/*!&#'-./#0!)/(.!4*Q*;#0*4!($)#!3!;()3$9!#7!5#49!03').K!

aL9!%8).!=3'</!)#!=9!3'.*!>!_(*410(0($%c!;3%%*4!&()/!;(0($!

"-($15#8$4!&()/!)(%*'!.)'(0($%!>!E)!;*).!)/*!534!.)877!03.)!

!

,/(</!5'($%.!=*!)#!=9!.-($!>!^/*!=*=5'3$*!)/3)!Ee=!;(Q($%!($!

E)!-**0.!)/($%.!#8)!3$4!/#;4.!)/($%.!($!>!]**0.!=*!7'#=!5*($%!)/($!

,()/#8)!()!Ee4!$*Q*'!;3.):!

!

L9!5'3($e.!3!<3'!5##)!.3;*!>!V$!#;4!%8()3'!&()/!)/'**!.#8$4!/#;*.!

V!^O!.*)!&()/!$#!<#$)'#;.!>!_8;0!7(<)(#$!3$4!`*34!"*3!.<'#;;.!

F#Q*!;*))*'.!3$4!W8$-!=3(;:!

!

E)e.!)'8*!E!%8*..!)/3)!()e.!3!=*..!>!N8)!$#5#49e.!0*'7*<)!*D<*0)!9#8!

N8)!9#8e'*!)/*!.#=*5#49!)/(.!5#49!34#'*.!>!^/*!#$*!()!&#'./(0.!3$4!300;384.!

"#!(7!9#8e'*!$#)!08)!#77!59!3;;!)/3)!.)877!>!^/*$!E!/#0*!#$*!439c!E!/#0*!3$4!0'39!)/(.!5#49!&(;;!

5*!9#8'.:b[a2*3')e.!3!&#'$1#8)!.;**Q*b!q!`3$!_;*&.!6@A6\!

!

E$! )/(.! *D*'<(.*! ()e.! (=0#')3$)! )#! -**0! )/*! .)(=8;8.! 0/'3.*! ./#')c! 3$4! #0*$! )#! 3;;#&! 3.! =8</!

($)*'0'*)3)(#$!3.!0#..(5;*:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

Ah!

OJ(X*2$(#&2(_*9#"(<#+Q@7>=(

(

#J(,&-+*279-%*&(

L3$9!.#$%&'()*'.!;(-*!)#!.($%!3$4!0'*.*$)!)/*('!#&$!=3)*'(3;:!E)!(.!(=0#')3$)!)/3)!)/*9!0'*.*$)!()!($!

)/*!5*.)!0#..(5;*!=3$$*':!E$!#'4*'!)#!%*)!)/*!=#.)!#8)!#7!9#8'!Q#(<*!9#8!./#8;4!4#!5#49!3$4!Q#<3;!

&3'=180.! 5*7#'*! 0*'7#'=($%:! ,*! .8%%*.)! )/3)! 7'#=! )(=*! )#! )(=*! 3! .0*<(7(<! 3=#8$)! #7! )(=*c!

0*'/30.!6@!=($8)*.!)#!/3;7!3$!/#8'c!5*!.*)!3.(4*!)#!73=(;(3'(.*!)/#.*!3))*$4($%!)/*!&#'-./#0!&()/!

)/*.*! '#8)($*.:! E)!&#8;4!5*!&#$4*'78;! )#! <#=0;*)*!3;;!#7! )/*!*D*'<(.*!#8);($*4!5*;#&!58)!*Q*$! (7!

#$;9! 03')! #7! )/*=! &*'*! <3''(*4! #8)! )/(.! &#8;4! 5*! =#.)! /*;078;! 7#'! )/*! Q#(<*! 3$4! =3-*! 7#'! 3$!

(=0'#Q*4!0'*.*$)3)(#$!#7!.#$%.:!E)!(.!03')(<8;3';9!/*;078;!7#'!&**-*$4!#'!;#$%*'!&#'-./#0.!3.!()!.!3!

Q*'9!*77*<)(Q*!7#'!)/*!03')(<(03$).!)#!&3-*!80!)/*('!5#49!3$4!<#$$*<)!&()/!)/*('!5'*3)/($%:! E)!3;.#!

<'*3)*.!3!'*;3D*4!3$4!<3'*7'**!3)=#.0/*'*! ($!)/*!%'#80!&/*$!3;;! )/*!0*#0;*!3))*$4($%!*$%3%*! ($!

.#=*!0;3978;!5#49&#'-!*3';9!#$!($!)/*!0'#%'3==*:!

!

3J(X*2$(<#+Q@`>(8N.+9%=.=(

V.! ($!f#%3!3$4!r(%#$%! ()! (.! (=0#')3$)!)#!.)'*)</!9#8'!=8.<;*.! 7('.)c!&3-($%!)/*=!80!.#7);9!5*7#'*!

8.($%!)/*=!*D<*..(Q*;9:!^/*!.3=*!%#*.!7#'!)/*!Q#(<*:!

• ")'*)</! 9#8! 3'=.! 80&3'4.c! ;(7)! /3$4.! 3$4! 7($%*'.! )#&3'4.! )/*! .-9c! %*)! #$! 9#8'! )#*.! 3$4!5'*3)/*!($!4**0;9:!

• ^/*$! '#;;! 4#&$&3'4.! .;#&;9! Q*')*5'3*! 59! Q*')*5'3*! &()/! )/*! 800*'! 5#49c! 7**;($%! 9#8'!.)#=3</!($)*$.(Q*;9c!&/(;*!*D/3;($%:!

• L3-*!.8'*!)/*!/*34c!3'=.!3$4!./#8;4*'.!3'*!'*;3D*4:!N'*3)/*!#8)!)/'**!)(=*.!&/(;*!/3$%($%!4#&$&3'4.:!!

• "&($%!9#8'!3'=.!3$4! ./#8;4*'.!53<-!3$4! 7#')/!&/(;*! .)3$4($%!3$4!5#8$<*!&()/!9#8'!-$**.!8.($%!)/*!.3=*!($!)/*!'/9)/=!)/3)!3!*!</(;4!&#8;4!4#!0;3978;;9:!J;#.*!9#8'!*9*.c!(7!9#8!;(-*c!3$4!7**;!/#&!)/*!5#49!'*;3D*.:!

!

V7)*'!.#=*!=($8)*.!4#($%!)/(.!*D*'<(.*c!)3-*!3!7*&!=#=*$).!)#!.)3$4!($!.(;*$<*!3$4!7**;!9#8'!5#49:!

^/(.!/*;0.!'3(.($%!)/*!3&3'*$*..!#7!9#8'!5#49!.*$.3)(#$:!^'9!3$4!;*)!%#!#7!)/#8%/).:!

• ")3')!./3-($%!9#8'!/*34:!^/*$!./3-*!9#8'!./#8;4*'.!3$4!/(0.:!!• J;30!9#8'!/3$4.!3$4!)/*$!-**0!)/*=!7#;4*4!&/(;*!./3-($%!9#8'!3'=.!53<-!3$4!7#')/!;(-*!9#8!

&3$)!)#!./3-*!3!<#($!($!9#8'!03;=.:!Z*=*=5*'!)#!'*;*3.*!9#8'!W3&s!• E7!9#8!=3-*!3$!t3/t1.#8$4!()!&(;;!.800#')!)/*!'*;3D3)(#$:!• ^/*$!./3-*!9#8'!-$**.!3$4!-(<-!9#8'!;*%.:!F3.);9!./3-*!9#8'!/3$4.!3$4!3'=.:!

f#8!=(%/)!&3$)!)#!%(Q*!.#=*!3))*$)(#$!)#!9#8'!73<*!5*<38.*!()!#7)*$!%*).!)*$.*c!*.0*<(3;;9!)/*!W3&:!

• "#!.)3')!59!%(Q($%!9#8'.*;7!3!;());*!/*34!=3..3%*:!f#8'!7($%*')(0.!=3..3%($%!)/*!.-8;;c!)/*$!9#8'!7#'*/*34!4#&$!)#!)/*!*9*5'#&.:!")'#-*!#Q*'!9#8'!*9*;(4.!3$4!</**-:!"#7);9!5()*!#$!9#8'!;(0.!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6@!

7'#=!)/*!($.(4*!;(-*!9#8!&3$)!)#!./8)!9#8'!=#8)/!&()/#8)!)/*!;(0.!)#!5*!.**$:!• ^/*$!5()*!/*3Q(;9!#$!9#8'!)**)/!3$4!<;*$</!9#8'!7(.).:!^/*$!;*)!%#!&()/!3!5(%!'*;(*Q*4!*D/3;*!#$!

t3/t:!• V7)*'&3'4.!=3..3%*!)/*!W3&!=8.<;*.:!• _8./!#8)!)/*!)#$%8*!;(-*!9#8!&3$)!)#!(=()3)*!3!)(%*':!_3')(<(03$).!;#Q*!()!&/*$!9#8!($)'#48<*!()!

0;3978;;9:!• L3-*! 9#8'! /(0.! )8'$! ($! <('<;*.! 7('.)! <;#<-&(.*! )/*! <#8$)*'! <;#<-&(.*!&/(;*! .)3')($%! )#!=3-*!

.#=*!5'*3)/($%!.#8$4!#$!tUt!3$4!t"/t:!• _8)!9#8'!/3$4.!#$!9#8'!-$**.!3$4!=3-*!X8(<-!<('<;*.l!7('.)!<;#<-&(.*c!)/*$!<#8$)*'!<;#<-&(.*:!

!

^/*!7#;;#&($%!a%'*&'(.N.+9%=.!/*;0.!)#!4**0*$!)/*!5'*3)/($%!3$4!%*)!%'#8$4*4K!

• ")3$4!($!3!'*;3D*4!0#.()(#$c!-$**.!3'*!3!;());*!5()!5*$)c!3'=.!/3$%!;##.*;9!$*D)!)#!9#8'!5#49:!• ")3')! =#Q($%! 9#8'! 3'=.! 7#'&3'4.! ($! 7'#$)! #7! 9#8c! ;(7)($%! )/*=! Q*'9! .;#&;9! &()/! )/*! /3$4.!

/3$%($%!4#&$!;(-*!9#8!&3$)!)#!4'3&!3!<('<;*:!!• E$/3;*!)/'#8%/!9#8'!$#.*:!V)!)/*!.3=*!)(=*!5*$4!9#8'!-$**.!.;#&;9!4#&$&3'4.:!• L3-*!.8'*!9#8'!354#=*$!3$4!0*;Q(.!3'*!.)'3(%/)!#'!*Q*$!5*$4*4!53<-&3'4.!;(-*!9#8!&3$)!)#!

*=0)9!()!;(-*!3!5#&;!.#!9#8!4#$u)!0'#Q#-*!3!t/#;;#&!<'#..t:!• ^/*$!.;#&;9!=#Q*!)/*!3'=.!)#&3'4.!9#8!.)(;;!4'3&($%!)/*!<('<;*!3$4!5*$4!9#8'!3'=.!3! ;());*!

&/(;*!9#8!=#Q*!9#8'!3'=.!4#&$&3'4.!3%3($!*D/3;($%!)/'#8%/!9#8'!#0*$!=#8)/!#$!tUt!3.!(7!9#8!&3$)!)#!08./!.#=*)/($%!3&39!7'#=!9#8:!

• Z*0*3)!)/(.!*D*'<(.*!*(%/)!)(=*.:!• f#8u;;! 7**;! )/*! *77*<)! '(%/)! 37)*'&3'4.! <38.*! ()! <*$)'*.! 3$4! '*;3D*.! 9#8! )#! 5*! 0'*03'*4! 7#'!

=#'*!*D<*..(Q*!*D*'<(.*.:!• _8)!9#8'!/3$4.!#$!9#8'!.)#=3</!3$4!;*3$!53<-&3'4.!&/(;*!($/3;($%!3$4!)/*$!5*$4!7#'&3'4!3)!

3!.;#&!03<*!&/(;*!*D/3;($%!.800#')($%!9#8'!5'*3)/($%:!I#.*!($1c!=#8)/!#8)!#$!tUt:!• U($3;;9c! '*.)! 7#'!3!=#=*$)! #7! 0*3<*!3$4!3&3'*$*..c! 7**;($%!9#8'! )#*.c! <3;Q*.c! -$**.c! )(%/).c!

/(0.c! 5#))#=c! 53<-c! .)#=3</c! </*.)c! $*<-c! ./#8;4*'.c! 800*'! 3'=.c! *;5#&.c! ;#&*'! 3'=.c!/3$4.c!7($%*'.c!)/'#3)c!73<*!3$4!.<3;0:!

• ,3-*!80!)/*!5#49!59!<;300($%!&()/!9#8'!;*7)!/3$4!7'#=!)/*!'(%/)!./#8;4*'!4#&$&3'4.!)#!)/*!/3$4c!)8'$!)/*!3'=.!3$4!<;30!($.(4*!80&3'4.:!`#!()!.*Q*'3;!)(=*.!3$4!)/*$!4#!)/*!.3=*!#$!)/*!;*7)!.(4*:!

• ^/*$!<;30!&()/!5#)/!/3$4.!4#&$&3'4.!7'#=!9#8'!/(0.!)#!)/*!7**)!3$4!($.(4*!80&3'4.:!Z*0*3)!)/'**!)(=*.:!

• "/3-*!9#8'!&/#;*!5#49c!=3-*!.#=*!.#8$4!&()/!9#8'!;(0.c!W8=0!80!3$4!4#&$!3$4!%*)!'*349!7#'!)/*!Q#<3;!&3'=180.s!

(

9J(_*9#"@<#+Q@`>(8N.+9%=.=(

N#49!3$4!Q#(<*!&3'=180.!/*;0!8.!)#!;*)!%#!#7!#8'!<'()(<3;!=($4:!^/*!=#'*!'*;3D*4!3$4!7'(*$4;9!)/*!

)*3</*'! <#=*.! 3<'#..! )/*! *3.(*'! 0*#0;*!&(;;! #0*$! 80! )#! )/*! *$*'%9! )/3)! 0'*03'*.! )/*=! 7#'! )/*!

<'*3)(Q*!0'#<*..:!

E)!(.!5*.)!)#!.)3$4!($!3!<('<;*:!!

Z*=($4! )/*! 03')(<(03$).! <#$.)3$);9! )/3)! 3'=.c! /3$4.! 3$4! 7($%*'.! ./#8;4! 5*! '*;3D*4:! E)! (.! 3$!

($4(<3)(#$! #7! .)'*..! (7! 0*#0;*! 7**;! 8$<#=7#')35;*! &/*$! /3$4.! 3$4! 7($%*'.! 3'*! 5*$4*4! #'!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6A!

#Q*'.)'*)</*4:!E)!&(;;!/*;0!)/*=!)#! ;##.*$!80!5*<38.*!)/*!5#49!;3$%83%*!*D0'*..*.!)/*!*=#)(#$3;!

.*$.3)(#$.!)/3)!%#!)/'#8%/!#8'!=($4.:!!

!

N*$4!9#8'!-$**.!3!;());*!&/(;*!*D*'<(.($%!)#!'*;3D!9#8'!;#&*'!5#49:!

• ")3')! 59! 5'*3)/($%! #8)! .)'#$%;9! #$! t777t! .#! )/3)! 9#8'! ;(0.! ./3-*! .#8$4($%! ;(-*! 3! /#'.*:! U('.)!&()/#8)!)#$*!)/*$!.)3')!)#!=3-*!.#8$4.!.;(4($%!801!3$4!4#&$&3'4.:!

• ^/*!.3=*!&#'-.!#$!)/*!E)3;(3$!t'''t!&/(</!=3-*.!9#8'!)#$%8*!7;3))*'!3$4!/*;0.!)#!.)'*$%)/*$!9#8'!4(30/'3%=:!

• !J'*3)*!3!t&3Q*t!59!=#Q($%!9#8'!3'=.!7#'&3'4!80!($)#!)/*!3('!&/(;*!*D/3;($%!#$!t.////t!3$4!4#&$&3'4.! 3%3($! 59! .8<-($%! )/*! 3('! )/'#8%/! '#8$4! ;(0.:! ^'9! 3$4! 0'#48<*! .)'#$%*'! 3$4!.)'#$%*'!&3Q*.!&()/!9#8'!=#8)/!8$)(;!)/*!5(%%*.)!#$*!<;3./*.!#$!)#!)/*!./#'*:!

• E)!<3$!<'*3)*!3!=*4()3)(Q*!.)3)*!59!(=()3)($%!)/*!#<*3$!&/(;*!9#8!)'3($!9#8'!5'*3)/($%:!!

^/*$!08)!9#8'!/3$4.!#$!9#8'! </*.)!3$4! .)3')!/8==($%!#$!3$9! )#$*! )/3)! 7**;.! <#=7#')35;*:!C3</!

0*'.#$!</##.*.!/(.!#'!/*'!!#&$!)#$*.!&/(</!<'*3)*.!3!5*38)(78;!t.#8$4!<;#84t:!

• "##$!9#8!<3$!=#Q*!#$!)#!Q#&*;.! ;(-*!t33/t!3$4!t88/tc! ($.0('*4!59!)/*!t&3Q*1*D*'<(.*t!9#8!=(%/)!'(.*!)#!<'*.<*$4#.!3$4!4*.<*$4!)#!4*<'*.<*$4#.!&()/!)/*!%'#80:!

• E)! (.!(=0#')3$)!)#!&3-*!80!9#8'!Q#(<*!%*$);9:!L3-*!.8'*!9#8!4'($-!3!;#)!#7!&3)*'!5*7#'*!3$4!48'($%!)/*!.*..(#$s! E)!&(;;!0'*Q*$)!0*#0;*!7'#=!43=3%($%!)/*!Q#<3;!</#'4.!&/(;*!4#($%!)/*!*D*'<(.*.:!

• `#!t.;(4($%.t!#$!t9#8888t!80&3'4.!)#!)/*!7(7)/![X8($)\!3$4!53<-&3'4.!)#!)/*!)#$(<:!J#$)($8*!59!.($%($%!()!3!/3;7!)#$*!/(%/*'!3$4!.#!7#')/:!

!

I*D)c!9#8!.($%!3!.(=0;*!Q#<3;!)*</$(X8*!*D*'<(.*!#$!t5;3t!)#!;##.*$!9#8'!W3':!

• ")3')!#$!)/*!7(7)/!3$4!%#!4#&$!7(Q*!)#$*.!)#!)/*!)#$(<K!5;3c!5;3c!5;3c!5;3c!5;3:!• ^/*$!/3;7!3!)#$*!/(%/*':!CQ*$)83;;9!.&()</!#Q*'!)#!5;(c!5;#c!5;8!3$4!5;38:!• E)!(.!=#'*!*77*<)(Q*!&/*$!9#8!-**0!3!.)*349!'/9)/=!3$4!)*=0#!.#!0*#0;*!/3Q*!)#!.)39!3;*'):!• L#Q*!)#!)/*!*D*'<(.*!59!./3-($%!/(0.!3$4!./#8;4*'.:!!

!"($%!3!=3W#'!</#'4!801!3$4!4#&$&3'4.!.)3')($%!#$!)/*!)#$(<c!%#!)#!)/*!)/('4c!7(7)/c!3$4!53<-!)#!)/('4!3$4!)#$(<!59!8.($%!)/*!&#'4.!tI#$c!$#$c!$#$c!$#$c!$#$t:!")3')!;#&!3$4!.**!/#&!/(%/!9#8!<3$!)'3($!)/*!Q#(<*.!80! ($)#!)/*!.#0'3$#>!)*$#'!'*%(.)*':!E7! ()!%*).!)##!/(%/!7#'!#$*!0*'.#$!/*>./*!<3$!4'#0!#8)!7#'!.#=*!.*X8*$<*.:!!

I#&!&*!&3$)!)#!)'3($!#8'!4(30/'3%=!&()/!)/*!7#;;#&($%!.(=0;*!*D*'<(.*!8.($%!a=(;(;(t!59!08./($%!

)/*!t.($%!=8.<;*t!($!#'!#8)!&/(</!(.!;#<3)*4!4#&$!5*)&**$!9#8!;#&*'!'(0.!3)!)/*!<#.)3;!3'</:!

^'9!)#!7($4!9#8'!$3)8'3;!(=08;.*!59!0'*)*$4($%!)#!<#8%/:!E)!&(;;!*()/*'!08./!($1!#'!#8)&3'4.!3$4!)/(.!

(.!&/3)!9#8!*D3%%*'3)*!48'($%!)/*!*D*'<(.*:!

• ")3')!#$!)/*!7(7)/c!3$4!)/*$!%#!)#!)/*!=3W#'!)/('4!3$4!4#&$!)#!)/*!)#$(<!3%3($!&/(;*!.($%($%!t=(;(;(t:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

66!

• C3</!)(=*!9#8!0'#48<*!3$!(=08;.*!#$!)/*!7('.)!)#$*:!• ^/*$!./3-*!3$4!&3-*!80!9#8'!5#49!3%3($!3$4!=3-*! )/*! t/#'.*! .#8$4t!3.!4*.<'(5*4! ($! )/*!

5*%($$($%!#7!)/(.!</30)*':!!

F3.);9!9#8!<3$!($)*%'3)*!)/*!&/#;*!#<)3Q*!59!.($%($%!)/*!./#')*.)!#0*'3!($!)/*!&#';4K!t2*;;#c!E!;#Q*!

9#8c!%##4159*ts!

• ")3')!#$!)/*!7(7)/K!t/*;;#c!Et!($!)/'**!Y)/!$#)*.c!%#!80!)#!)/*!/(%/!)#$(<!59!.($%($%!t;#Q*tc!4#&$!)#!7(7)/!&()/!t9#8tc!.($%!t%##4t!#$!)/*!=3W#'!)/('4!3$4!t59*t!#$!)/*!;#&!)#$(<:!

• E)! (.!%##4!78$!)#!;*)!)/*!03')(<(03$).!&3;-!3'#8$4!3$4!%'**)!*3</!#)/*'!&/(;*!0*'7#'=($%!)/(.!;());*!#0*'3!)#!*3</!#)/*'!8.($%!3'=.!3$4!5#49!*D0'*..(#$.:!

(

2J(_*9#"(%Q>+*:%=#-%*&Y(I#""(#&2(6.=>*&=.(

^#!7($(./!)/*!Q#<3;!&3'=180!.*..(#$!9#8!<3$!4#!3!;());*!t<3;;!3$4!'*.0#$.*t!&/(</!&(;;!</3;;*$%*!)/*!

03')(<(03$).!)#!0*'7#'=!.#;#!3$4!5*!<'*3)(Q*!&()/!)/*('!Q#(<*:!

• ^/*!&#'-./#0!;*34*'!.)3').!=#Q($%!7'#=!'(%/)!7##)!)#!;*7)!7##)!($!3!.;#&!)*=0#!)#!*=0/3.(k*!)/*! '/9)/=! 3$4! .($%.! .#=*! .(=0;*! ./#')! =*;#49! *3.9! )#! 5*! '*0*3)*4! .8</! 3.! a9*3/tc!t&/##tc!t435343t!#'!($!%(55*'(./:!

• ^/*!%'#80!&(;;!'*0*3)!)/*!.3=*!;($*c!3$4!)/*$!)/*!$*D)!0*'.#$!)#!)/*!'(%/)!($Q*$).!.#=*!$*&!.(=0;*!=*;#49!)#!5*!'*0*3)*4:!

• O*'9!#7)*$!.#=*!0*#0;*!.844*$;9!7**;!5;#<-*4!3$4!<3$$#)!)/($-!#7!3$9!t5'(;;(3$)t!=*;#49:!• F*)! )/*=! ./#8)! )/*('! $3=*! #'! t9*.c! E! 4#t! #'! t5*38)(78;! 439t! 3.! ;#$%! 3.! )/*! 0#.()(Q*! Q(5*!

<#$)($8*.!3$4!*Q*'9#$*!%*).!)#!)'9!()!#8):!!

.J(_*9#"(%Q>+*:%=#-%*&Y(;*&'(I%+9".(

")3$4!($!3!<('<;*!3$4!.)3')!=#Q($%!3.!4*.<'(5*4!($!)/*!0'*Q(#8.!*D*'<(.*:!

• ^/*!Q#<3;!($.)'8<)#'!0'*.*$).!)/(.!(=0'#Q(.3)(#$!%3=*!59!*D0;3($($%!)/3)!/*!&(;;!.($%!3!.(=0;*!t%'##Q*t!7#'!*Q*'95#49!)#!.($%!3;#$%:!^/*$!)/*!$*D)!0*'.#$!)#!/(.!'(%/)!(.!)/*$!3.-*4!)#!344!3$#)/*'!t<#;#8't:!!

• U($4!.#=*)/($%!*3.9!3$4!'*0*)()(Q*!)#!344!)#!)/*!)#!)/*!%'##Q*:!^/*$!)/*!$*D)!0*'.#$!)#!'(%/)!<#$)($8*.!08))($%! .#=*! ;());*!=*;#49!#'! '/9)/=! )#! ()! 3$4! .#! 7#')/! 8$)(;! 9#8! '*3</! )/*! ;3.)!0*'.#$!)#!)/*!;*7)!#7!)/*!&#'-./#0!;*34*':!

• ^/(.!0*'.#$!&(;;!/3Q*!)/*!.0*<(3;!'#;*!)#!(=0'#Q(.*!#Q*'!)/(.!t.#8$4!.3;34t:!• `#!3!)*.)!'#8$4!)#!)'9!()!#8):!• ^/*!<('<;*!./#8;4!$*Q*'!.)#0!5*<38.*!)/*!t(=0'#Q(.*'t!+(.!3;&39.!)/*!;3.)!0*'.#$!($!)/*!<('<;*!

.)3$4($%! )#! )/*! ;*7)! #7! )/*! a%'##Q*! .)3')*'t! +! 2*>"/*!&(;;! 7($4! 3! $*&! %'##Q*! 37)*'! )3-($%!

.#=*!)(=*!)#!(=0'#Q(.*!#Q*'!)/*!#;4!#$*!)#!!(=0'#Q(.*!#Q*'!)/*!#;4!#$*:!!

^/(.! *D*'<(.*! <3$! 5*<#=*! X8()*! *D<()($%! &/*$! 03')(<(03$).! 43'*! )#! ;*)! )/*('! Q#(<*! .0*3-! 3! $*&c!

8$73=(;(3'!;3$%83%*!3$4!<3$!5*!3!&#$4*'78;!*D0*'(*$<*!#7!;*))($%!%#!#7!5#8$43'(*.:!23Q*!78$s!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6B!

RJ(,&-7%-%:.(;%&'%&'(

E$)8()(Q*!"($%($%! (.!3! .9.)*=3)(<!&39!#7! '*;*3.($%! .)'*..! ($! )/*!5#49c! )/*!Q#(<*!3$4! )/*! 5'*3)/($%c!

)/*'*59! ($48<($%!3!=*4()3)(Q*! .)3)*c! ($$*'!0*3<*!3$4!3$! ($<'*3.*4! .*$.*!#7! .*;7:!_3')(<(03$).!3'*!

*$<#8'3%*4!)#!7($4!)/*('!#&$!Q#(<*!59!3!.*'(*.!#7!%'#80!Q#<3;!*D*'<(.*.!&/*'*!)/*!*=0/3.(.!(.!#$!

*D0'*..($%!9#8'.*;7!($!9#8'!#&$!8$(X8*!&39!&/(;*!3)!)/*!.3=*!)(=*!=*'%($%!($)#!)/*!.9=0/#$9!#7!

.#8$4!5*($%! 0'#48<*4! 59! )/*! %'#80! 3.! 3!&/#;*:! ! ^/(.! 3;;#&.! 03')(<(03$).! )#! %(Q*! 5(')/! )#! 3! $*&!

Q#(<*c!&/(</!(.!8$(X8*;9!)/*('.!3$4!$#)!3$!(=()3)(#$!#7!.#=*#$*!*;.*e.!Q#(<*:!"#=*)(=*.!)/*!03)/!(.!

;#$%!3$4!4(77(<8;)!58)!.#=*)(=*.!.8</!%(7)!73;;!4('*<);9!7'#=!/*3Q*$:!!

G8'!($)8()(Q*!Q#(<*!(.!$#)!($7;8*$<*4!59!'*3.#$:!E)!4#*.!$#)!/3Q*!0'*4*)*'=($*4!

=*;#4(*.!#'!&#'4.:! E)!#'(%($3)*.!3$4!)*'=($3)*.!7'**;9l! ()! (.!0'#W*<)*4!#8)! ($)#!)/*!%'#80!&/*'*! ()!

($7;8*$<*.!)/*!X83;()9!#7!03')(<(03)(#$!#7!#)/*'.!3$4!($!)8'$!'*.0#$4.!)#!)/*!*D0'*..(#$!#7!#)/*'.!($!

3!.9=0/#$(<!4(3;#%8*:!E)!(.!78;;!#7!*=#)(#$c!&/(</!<#=*.!7'#=!)/*!/*3')!3$4!(.!.)'#$%;9!7#<8..*4!($!

)/*!$#&:!

^/*!5*$*7()!#7!E$)8()(Q*!"($%($%!)#!"#$%&'()*'.! (.!)/3)!/*;0.!8.!)#!4*Q*;#0!#8'!#&$!8$(X8*!.)9;*c!()!

(=0'#Q*.! )/*! )#$*! #7! #8'! Q#(<*c! ()! *$<#8'3%*.! 8.! )#! (=0'#Q(.*! 3$4! ()! /*;0.! 8.! )#! #Q*'<#=*!

0*'7#'=3$<*!($/(5()(#$.:!!

!

E7! 9#8! 3'*! ($)*'*.)*4! ;*3'$($%!=#'*! 35#8)! E$)8()(Q*! "($%($%! 0;*3.*! Q(.()!&&&:($)8()(Q*.($%($%:<#=!

3$4!4#&$!;#34!)/*!5##-;*)!a^/*!S3)*!)#!9#8'!E$$*'!L8.(<b!

(

#J(8N-+#9-=(

^/*! 7#;;#&($%! *D)'3<).! 7'#=! )/(.! 5##-;*)! 3'*! '*7;*<)(#$.c! &/(</! &*'*! =34*! 37)*'! 3! .*=($3'! #$!

($)8()(Q*!.($%($%c!&/(</!&3.!/*;4!($!,'#<;3&c!_#;3$4!($!6@A6:!^/*9!/*;0!8.!%*)!3!5*))*'!(4*3!#7!&/3)!

)/*!0'#<*..!(.!35#8):!

!

P+*Q(X.+'.+&.(<%"4(1#"%&#^(17&'#+$Y(

U#'!=3$9!9*3'.c!E!/3Q*!5**$!0'#7*..(#$3;;9!*$%3%*4!($!$3)8'*!)/*'309:!_3')(<8;3';9!Ee=!($)*'*.)*4!($!

7(*;4.!)/3)!/*;0!0*#0;*!)#!7($4!53;3$<*!5*)&**$!)/*!0/9.(<3;!5#49c!)/*!.#8;!3$4!)/*!=($4:!^/*!)(=*.!

)/3)!&*!3'*!;(Q($%!'(%/)!$#&!0'#<**4!3)!3!03')(<8;3';9!73.)!03<*:!G8'!5#4(*.c!&/(</!3'*!*$<#4*4!59!

#;4!03))*'$.c!3'*!.(=0;9!$#)!35;*!)#!7#;;#&v!

V5#8)!R!9*3'.!3%#!E!<3=*!3<'#..!3!%#$%!+!&/(</!(.!)/*!.80'*=*!($.)'8=*$):!E!7*;)!().!Q(5'3)(#$!($!=9!

5#49! Q*'9! .)'#$%;9:! ^/*! .3=*! /300*$*4!&()/! ^(5*)3$! .($%($%! 5#&;.:! N#)/! #7! )/*=! %3Q*!=*! )/*!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6?!

(=0'*..(#$! #7! )(=*!4(.300*3'($%!3$4!3! 7**;($%!#7!03')(<8;3'! ;(%/)$*..!#7! )/*! 5#49:!^/(.! .)3)*! ;3.).!

;#$%!37)*'!)/*!)'*3)=*$)c!=3..3%*!3$4!.#!<3;;*4c!53)/!.#8$4e:!V</(*Q($%!)/(.!.)3)*!=3-*.! ()!=8</!

*3.(*'!)#!5'($%!#8)!#8'!#&$!Q#(<*:!E$!)/*!.#8$4!#7!)/#.*!($.)'8=*$).!(.!3!-($4!#7!*$<#8'3%*=*$)!)#!

.($%!)#%*)/*':!V;;!)/*!0'*1*D(.)($%!5#8$43'(*.!4(.300*3':!L3$9!0*#0;*!3'*!8$&(;;($%!)#!.($%:!,/*$!

9#8! <;#.*! 4#&$! )/*! Q#(<*! ($.(4*! #7! 9#8c! 9#8! <;#.*! 4#&$! 9#8'! #&$! 7**;($%.:! ")39($%! 3=#$%! )/*!

.#8$4.! 3$4! Q(5'3)(#$.! #7! )/#.*! ($.)'8=*$).! /*;0.! )#! 3</(*Q*! 3! .)3)*! #7! '*;3D3)(#$:! E)! (.! 3! %'*3)!

#00#')8$()9!)#!*=*'%*!'*5#'$!&()/!3!$*&!X83;()9!#7!Q#(<*!#'!.($%($%:!L3$9!0*#0;*!<3$e)!.($%:!E!<3$!

.**!)/3)!)/*('!Q#(<*.c!3<<#'4($%!)#!3*.)/*)(<!.)3$43'4.c!3'*!W84%*4!;#&!59!)/*!;(.)*$*'.:!N8)!E!-$#&!

)/3)!7#'!)/*!0*'.#$!0*'7#'=($%!()e.!3!4**0!*D0*'(*$<*:!E$!=3$9!<3.*.c!()!<3$!=*3$!*$)*'($%!)/*!$*&!

&39!#7!;(7*:!

^#!.($%!($!7'#$)!#7!3!%'#80!9#8!$**4!)#!7($4!<#8'3%*:!f#8!$**4!)#!;*3'$!/#&!)#!%*)!)/*!.)'*$%)/!3$4!

/#&!)#!%3($!<#$)'#;!#Q*'!9#8'!5'*3)/:!f#8!$**4!)#!;*3'$!/#&!)#!-**0!9#8'!5#49!3)!*3.*:!f#8!$**4!

)#! 7($4! (==*4(3)*;9!3$4! .0#$)3$*#8.;9! )/*!<#$<*0)!#7!&/3)! .#8$4!9#8!&3$)! )#! .($%!3$4! 7($4! ().!

.8()35;*! 0#&*'! 3$4! 08'*$*..:! _'3<)(.*! /*;0.:! E)e.! &#')/! 0'3<)(.($%:! V.! 3! '*.8;)! #7! 0'3<)(<*c! )/*!

0'3<)()(#$*'.!3</(*Q*!/(%/*'! ;*Q*;.!#7!.3)(.73<)(#$:!^/*9!3'*!35;*!)#!%*)!53<-!#$!)/*('! 7**)! 73.)*'1! E!

&#8;4!<3;;! )/(.! )(=*c!3!)(=*!#7!%'#&)/!3$4!4*Q*;#0=*$)!#7!)/*!Q#(<*:! E!$#)(<*!)/3)!.($%($%!0*#0;*!

=3-*!</3$%*.!($!)/*('!;(Q*.!=8</!73.)*':!

V03')!7'#=!%#$%.!3$4!.($%($%!5#&;.!)/*'*!3'*!=3$9!#)/*'!4(77*'*$)!($.)'8=*$).!)/3)!<3$!/*;0!9#8!

)#!%*)!9#8'!($$*'!Q#(<*!#8):!

^/*!"/'8)(!5#Dc!&/(</!(.!E$4(3$!#'(%($c!%(Q*.!9#8!)/*!53.(<!)#$*!3$4!<'*3)*.!3!-($4!#7!&3Q*!)/3)!9#8!

<3$!*3.(;9!.()!&()/:!E).!.#8$4!'*=($4.!8.!#7!.#=*)/($%!3$<(*$)!3$4!*3')/91$3)8'3;1!.($%($%!&()/!()c!&*!

%*)!)/*!7**;($%!)/3)!&*!3<)83;;9!3'*!)/(.!.#8$4!,*!3;.#!7**;!.37*::!^/*!03')(<(03$).!#7!)/(.!*D*'<(.*!

Q*'9!#7)*$!.39!)/3)!)/*9!/*3'4!3$4!7*;)!)/*!Q#(<*!#7!)/*!C3')/:!

V$#)/*'!Q*'9!($)*'*.)($%!($)8()(Q*!($.)'8=*$)!(.!]3;(=53:!^/(.!5*38)(78;c!3$%*;(<!.#8$4!/3.!3$!(=03<)!

#$!#8'! 7**;($%.:!E)!#0*$.!)/*!03)/!)#!%*))($%!#8)!#8'!7**;($%:!"($%($%!)#%*)/*'!&()/!)/(.!($.)'8=*$)!

&*!.*$.*!)/3)!&*!3'*!.($%($%!#8)!#8'!7**;($%.c!&/(</!%(Q*!3!.0*<(3;!.*$.*!#7!;(%/)$*..!3$4!08'*$*..:!

!J#=0;*)*;9!4(77*'*$)!7**;($%.!&3-*!80!($.(4*!#7!8.!&/(;*! ;(.)*$($%!)#!)/*!./3=3$(<!4'8=:!!,*!%*)!

)/*!(=0'*..(#$!)/3)!&*!3'*!'*)8'$($%!)#!#8'!3$<*.)#'.:!Z/9)/=!%(Q*$!59!3!0;39*'!<3$!*3.(;9!)3-*!8.!

)#!)/*!&#';4!#7!)/*!*;*=*$).!

Ee=! .8'*! )/3)! *3</! #7! 8.! <3$! 7($4! )/*!=#.)! .8()35;*! ($.)'8=*$)! 7#'! #8'.*;Q*.:! E)! (.!&#')/! 0;39($%!

)/#.*!($.)'8=*$).!W8.)!7#'!9#8'!#&$!0;*3.8'*:!E)!(.!&#')/!<'*3)($%!9#8'!#&$! ($)(=3)*!<#$)3<)!&()/!

)/*=:!V!7*&!9*3'.!3%#c!E!<3=*!3<'#..!3!k()/*':!F(.)*$($%!)#!)/*!.#8$4!#7!().!.)'($%.!E!'*3;(.*4!)/3)!E!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6P!

&#8;4! ;(-*! )#! 0;39! )/3)! ($.)'8=*$)! ($!=9! #&$!&39:! E! 7#8$4! .#=*! 5*38)(78;! 0#*=.! 3$4! )/*$! )/*!

=8.(<!7#'!)/*=!<3=*!($)#!5*($%:!:!V!9*3'!;3)*'!3!J`!&()/!=9!(=0'#Q(.*4!.#$%.!&3.!'*;*3.*4:!E!/3Q*!

5**$!%(Q($%!<#$<*').!7#'!=3$9!9*3'.:!^/*!;(.)*$*'.!&/#!./3'*!)/*('!(=0'*..(#$.!.39!)/3)!)/#.*!.#$%.!

%*)!4**0!($.(4*!)/*=:!!

!

P+*Q(A.:#%(X*+3b"#(G!*"#&2HY(

"($%($%!7'#=!=9!/*3')!/3.!3;&39.!3<<#=03$(*4!=9!;(7*:!,/3)*Q*'!EnQ*!5**$!4#($%1!EnQ*!3;&39.!5**$!

/8==($%13$4!=3-($%!80!=9!#&$! ;9'(<.:! En=!3!%'*3)!=8.(<! ;#Q*'c! .($%($%!3$4!=8.(<! (=0'#Q(.3)(#$!

%(Q*.!=*! ;#)!#7! 7'**4#=:!^/*! E$)*'$3)(#$3;!&#'-./#0.!3$4!)/*('!*D*'<(.*.!/3Q*!/*;0*4!=*!)#!7($4!

=9!Q#(<*c!&()/#8)!7**;($%!$*'Q#8.:!V)!)/*!=**)($%.!E!7#8$4!=3$9!0*#0;*!&/#!&*'*!.*3'</($%!($!)/*!

.3=*!&39!3$4!)/(.!;*7)!3!%'*3)!(=0'*..(#$!#$!=*:!,*!;*3'$*4!7'#=!#$*!3$#)/*'!/#&!)#!*D0'*..!#8'!

7**;($%!7'**;9!8.($%!9#8'!#&$!Q#(<*:!E!4(4!$#)!$**4!$#)*.!#'!;9'(<.!*()/*'1E!.3$%!&/3)*Q*'!<3=*!)#!=9!

=($4!3)!)/3)!=#=*$)::!V.!3!$3)8'*!)/*'30(.)!E!-$#&c!)/3)!&/*$!E!.)'*$%)/*$!)/*!X83;()9!3$4!0#&*'!

#7!=9!Q#(<*1=9!.0;**$!5*<#=*!=#'*!*77*<)(Q*!3$4!)/(.!.)'*$%)/*$.!=9!5*;(*7!($!=9.*;7!3$4!=9!;(7*!

0#&*'.!5*<#=*!.)'#$%*':!E!3=!35;*!)#!03..!)/(.!#$!)#!)/*!0*#0;*!)/3)!E!3=!&#'-($%!&()/:!V.!3!'*.8;)!

#7!03')(<(03)($%!($!($)8()(Q*!.($%($%c!E!*D0*'(*$<*4!)/*!5*$*7(<(3;!($7;8*$<*!#7!)/*!.#8$4!3$4!.($%($%!

#$!=9!0/9.(<3;!5#49c!=9!0.9</*!3$4!=9!.#8;:!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6R!

3J(,&-7%-%:.(;%&'%&'(9*Q>#+.2(5%-0(-0.(=-#&2#+2(#>>+*#90(-*(=%&'%&'(

")3$43'4!*48<3)(#$!)/'#8%/! ;*3'$($%c!8$4*'.)##4!3.!)/*!3<X8(.()(#$!#7!-$#&;*4%*!3$4!0'3<)(<*c! (.!

&(4*;9! 8.*4! ($! =8.(<! .</##;.c! &#'-./#0.! 3$4! )'3($($%.:! 2#&*Q*'c! 5*($%! 3! 0'#7*..(#$3;! =8.(<(3$!

4#*.$n)!;*34!)#!)/*!.-(;;!#7!(=0'#Q(.3)(#$!#$!)/*!.)3%*!#'!($!($)8()(Q*!.($%($%:!

^/*!=3($!4(77*'*$<*.!5*)&**$!;*3'$($%!)#!5*!3!0'#7*..(#$3;!=8.(<(3$!3$4!;*3'$($%!($)8()(Q*!.($%($%!

<3$!5*!.**$!($!)/*!<#=03'(.#$!)35;*:!

!

/18(!6SI8;;(SP(A8L6M,M?(E(!6SP8;;,SMLA(;,M?,M?(

/18(!6SI8;;(SP(;8AP@S!8M,M?(E(,M/`,/,_8(;,M?,M?(

^/*!%#3;!(.!)#!3</(*Q*!0*'7*<)(#$l!085;(<!0*'7#'=3$<*!#$!)/*!.)3%*!

^/*!%#3;!(.!8.83;;9!)#!7($4!n.#=*)/($%n!;#.)!48'($%!</(;4/##4!&/(</!($!)8'$!;*34.!)#!3!!</3$%*!($!)/*!($4(Q(483;n.!;(7*!#'!3)!;*3.)!3!

</3$%*!($!=8.(<1=3-($%!

L8.(<3;!*D*'<(.*.!3'*!3!</#'*l!*Q*$!(7!9#8!3'*!<#=7#')35;*!3)!)/*!5*%($$($%c!;3)*'!)/*9!5*<#=*!%*$*'3;;9!)*4(#8.!3$4!)('($%:!

CD*'<(.*.!($()(3;;9!.**=.!X8()*!=*3$($%;*..!58)!;3)*'!!)/*9!3'*!Q*'9!0;*3.3$)!

,*!;*3'$!3<<#'4($%!)#!03')(<8;3'!.)9;*c!3!03')(<8;3'!.</##;:!^/*!<;#.*'!&*!3'*!)/(.!.)9;*c!)/*!5*))*'!&*!7**;!&*!3'*!4#($%!($!

;*3'$($%:!

^/*!73<)!&*!<3$!.($%!(.!(4*3;;9!.8()*4!)#!8.c!5*<38.*!()!(.!3!03')!#7!8.c!()!<#=*.!7'#=!

&()/($!8.:!

^/*!'*.8;)!(.!)/*!35(;()9!)#!0*'7*<);9!0*'7#'=!=#'*!4(77(<8;)!3$4!=#'*!<#=0;*D!=8.(<3;!

&#'-.!#7!#)/*'!<#=0#.*'.:!

^/*!'*.8;)!(.!3!<'*3)(Q*!.*;71*D0'*..(#$K!!.#=*)(=*.!.(=0;*c!.#=*)(=*.!=#'*!

<#=0;(<3)*4c!4*0*$4($%!#$!)/*!($.0('3)(#$!

V5(;()9!)#!(=0'#Q(.*!(.!)/*!;3.)!'8$%!#$!)/*!;344*'!#7!3</(*Q*=*$).:!G$;9!%'*3)*.)!=3.)*'.!<3$!7'**;9!(=0'#Q(.*!#$!.)3%*!

!

E=0'#Q(.3)(#$!(.!7'#=!)/*!5*%($$($%c!)/(.!35(;()9!<#=*.!X8(<-;9!3$4!$3)8'3;;9c!58)!9#8!=39!/3Q*!0'#5;*=.!&()/!3$!*D3<)!'*0*)()(#$!

#7!.#$%.!3$4!=*=#'(k($%!

E7!9#8!;(-*!)#!.($%!1!()!%(Q*.!9#8!3!%'*3)!0;*3.8'*!3$4!(=0'#Q*.!=##4!

"($%($%!(.!3$!($)*%'3;!03')!#7!#8'!;(7*c!&/(</!377*<).!3;;!3'*3.!

L3($;9!&*!.($%!.#=*#$*!*;.*e.!.#$%.c!8.83;;9!=3.)*'.n!.#$%.!#'!&*;;1-$#&$!/().!

L3($;9!&*!.($%!&/3)!&*!7**;!3)!)/*!=#=*$):!^/*$!&*!<'*3)*!#8'!#&$!.#$%.!

(

9J(!+.=.&-#-%*&(#&2(=0#+%&'(

_3')! #7! )/*! g&#'-./#0! 49$3=(<e! (.! )/3)! 03')(<(03$).! 5*<#=*! )/*('! #&$! 384(*$<*! 3$4! )/(.! /*;0.!

<'*3)*!3$!*D0*<)3$)!3$4!0'#48<)(Q*!3)=#.0/*'*c!&()/!$*&!&#'-!3$4! (4*3.!5*($%!./3'*4:!J'*3)($%!

3$!*D0*<)3)(#$!<3$!08)!0*#0;*!#$!)/*!.0#)c!.#!()e.!(=0#')3$)!)#!*.)35;(./!3!.800#')(Q*!3)=#.0/*'*:!

N9!)/*!.3=*!)#-*$c!(7!.#=*#$*!(.!$#)!'*349!#'!#)/*'&(.*!8$&(;;($%!)#!./3'*!)/*('!&#'-!()!&#8;4!5*!3!

=(.)3-*!)#!0'*..8'*!)/*=!($)#!4#($%!.#:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6T!

,/(;*!0'*.*$)3)(#$! (.!*..*$)(3;! )#!)/*!49$3=(<c! ()! (.!.*<#$43'9!)#!)/*!<'*3)(Q*!0'#<*..c!=*3$($%!3!

;3'%*! %'#80! <3$! 0'*.*$)! </3;;*$%*.:! E$! )/(.! <#$)*D)c! ()!=39! 5*! 3! %##4! (4*3! )#! 5'*3-! ($)#! .=3;;*'!

0'*.*$)3)(#$1<('<;*.![$#)*!)/*!&#'4!g<('<;*e\!)#!.3Q*!)(=*!3$4!=3D(=(.*!<'*3)(Q*!)(=*!3$4!7**453<-!

#00#')8$()(*.:!

E)! (.!4*.('35;*!)/3)!53.(<!'*<#'4($%.!3'*!=34*!#7!0'*.*$)3)(#$.!3)! ;*3.)!#$!)/*!Q#(<*!'*<#'4*'!#$!3!

=#5(;*!0/#$*:!^/(.!*$.8'*.!)/3)!)/*'*!(.!3!'*<#'4!#7!)/*!.#$%!3Q3(;35;*c!&/(</!)/*$!<3$!5*!&#'-*4!

80#$! ($! )/*! 78)8'*:! ^/*! #'%3$(.*'.!=39! '*<#'4! 3;;! #7! )/*! 0'*.*$)3)(#$.! 3$4! 4(.)'(58)*! )/*=! ;3)*'!

3;)*'$3)(Q*;9!)/*9!=39!3.-!03')(<(03$).!)#!)3-*!'*.0#$.(5(;()9!7#'!)/*('!#&$!'*<#'4($%.:!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6Y!

TJ(?7.=-(=>.#4.+=(#&2()*+Q#"(-.#90%&'(

F*34($%! 3! &#'-./#0! (.! =#'*! 73<(;()3)(#$! )/3$! )*3</($%l! 7#'=3;! )*3</($%! .*..(#$.! /*;0! *X8(0!

03')(<(03$).!&()/!3! 7'3=*&#'-!#7!'8;*.!#'!<'*3)*!3!.)3')($%!0#($)! 7'#=!&/(</!=#'*!03')(<(03$)1;*4!

3<)(Q()(*.!<3$!7#;;#&:!

2#&*Q*'c! ($! #'4*'! 7#'! 03')(<(03$).! )#! '*;3Dc! )/*9! 3;.#! $**4! )#! -$#&! )/3)! )/*9! 3'*! ($! .37*c!

*D0*'(*$<*4!/3$4.l!3.!&()/!3$9!0'*.*$)($%!.()83)(#$c!)/*!=##4!($!)/*!'##=!(.!.*)!59!)/*!<8*.!7'#=!

)/*!0'*.*$)*'c!.#!()e.!(=0#')3$)!)/3)!)/3)!0*'.#$!7**;.!<#=7#')35;*!($!)/*!'#;*:(

E$Q()($%! 3! %8*.)! .0*3-*'! <3$! ($)'#48<*! $#Q*;)9! 3$4! *$*'%(.*! 3$! *.)35;(./*4! &#'-./#0! %'#80:!

,/*)/*'!g($Q()*4e!#'!g($1/#8.*ec!/#&*Q*'c!7#'=3;!)*3</($%!.*..(#$.!3'*!8.*78;c!=395*!*..*$)(3;c!7#'!

.#=*!03')(<(03$).c!&/(;*!#)/*'!03')(<(03$).!=39!5*!;*..!($)*'*.)*4:!!

,()/!;3'%*'!%'#80.!()!=39!5*!34Q(.35;*!)#!.</*48;*!3$!3;)*'$3)(Q*!.0*3-*'>!3<)(Q()9!)#!<3)*'!)#!5#)/!

%'#80.:!^/*!4(.<8..(#$!)/3)!'*.8;).!<3$!($<;84*!0**'!)*3</($%>./3'($%!3$4!)/*!rwV!.*<)(#$!=39!5*!

)/*!=#.)!8.*78;!.*<)(#$!#7!)/*!&#'-./#0:!

!

E$!)/*!<#8'.*!#7!)/*!_;39($%!7#'!E$)*%'3)(#$!03')$*'./(0!&#'-./#0.c!)*3</($%!.*..(#$.!($<;84*4!)/*!

;*3'$($%!#7!)'34()(#$3;!.#$%.!)/*!0/(;#.#0/9!#7!<#1&'()($%c!.)'8<)8'*c!=*;#49c!/3'=#$9c!'(%/).!3$4!

'#93;)(*.!3$4!%8()3'!)*</$(X8*:!!

(

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

6h!

UJ(8:#"7#-%*&=(

CQ3;83)(#$!/3.!3$!(=0#')3$)!'#;*!)#!0;39!($!)/*!<#$48<)!#7!*Q*$($%!&#'-./#0.!3$4!=#'*!03')(<8;3';9!

($!)/*!<#$48<)!#7!;#$%*'!&#'-./#0.:!

!

U#'!*Q*$($%!&#'-./#0.c!&*!<#$.(4*'!()!5*.)!0'3<)(<*!)#!300#($)!#$*!0*'.#$!3.!)/*!7#'=3;!*Q3;83)#'!

7#'!)/*!*Q*$($%:!^/*!'#;*!#7!)/*!*Q3;83)#'!&(;;!5*!)#!<#==*$)!($!3!<#$.)'8<)(Q*!=3$$*'!#$!/#&!&*;;!

)/*!&#'-./#0!&3.!<#$48<)*4:!`(4!)/*!&#'-./#0!7#;;#&!3!0'*4*7($*4!.)'8<)8'*c!&/(</!73<(;()3)*4!)/*!

%'#&)/!#7!)/*!03')(<(03$).M!`(4!)/*!0*'.#$!($!</3'%*!-**0!<#$)'#;!#7!3<)(Q()(*.!3$4!7($(./!($!3!)(=*;9!

=3$$*':!G'!4(4!)/*!&#'-./#0!4'(7)!&()/#8)!3!.*$.*!#7!08'0#.*:! !^/(.! 7**453<-!<3$!5*!/*;078;! 7#'!

(=0'#Q($%!)/*!X83;()9!#7!78)8'*!&#'-./#0.!

!

G$!&#'-./#0.!)/3)!)3-*!0;3<*!#Q*'!3!;#$%*'!0*'(#4!.8</!3.!3!&**-*$4!#'!3!7(Q*1439!.*..(#$!3$4!()!(.!

(=0#')3$)!)/3)!3;;!03')(<(03$).!3'*!3.-*4!)#!0'#Q(4*!7**453<-!3$4!)/3)!)/*'*!(.!3!7#'=3;!*Q3;83)(#$!

.*..(#$:! ^/(.! &(;;! 0'#Q(4*! )/*! 03')(<(03$).! &()/! 3$! #00#')8$()9! )#! /(%/;(%/)! 3$9! 4*7(<(*$<(*.! ($!

#'%3$(.3)(#$c!&/(</!<3$!5*!'*<)(7(*4! ($!)/*!78)8'*:!2#&*Q*'!<'*4()!./#8;4!5*!%(Q*$!&/*'*!<'*4()!(.!

48*!3$4!()!(.!3;.#!3$!#00#')8$()9!7#'!($4(<3)($%!)/*!0#.()(Q*!3.0*<).!#7!)/*!&#'-./#0.c!&/(</!<3$!5*!

58(;)!80#$!($!)/*!78)8'*!

(

X.=-(!+#9-%9.(8N#Q>".Y(CQ3;83)(#$1J#1,'()($%![/*;4!($!";#Q*$(3!6@A6\!

(,&=-+79-%*&=()*+(-0.('+*7>(5*+4((1!S(Q*!)/*!%'#80!3!.0*<(7(<!)(=*!7#'!)/*!*D*'<(.*!1!C3</!03')(<(03$)!($!)/*!%'#80!344'*..*.!)/*!7#;;#&($%!X8*.)(#$.K!

3\ ,/3)!;*3'$($%e.!&(;;!9#8!)3-*!&(;;!9#8!)3-*1/#=*!&()/!9#8M!!5\ 2#&!&(;;!9#8!4*.<'(5*!9#8'!*D0*'(*$<*!)#!9#8'!7'(*$4.M!<\ ,/3)!&*'*!*Q*$).>=#=*$).!)/3)!($.0('*4!9#8!#'!4(.300#($)*4!9#8M!4\ ,/3)!3'*!)/*!$*D)!.)*0.!9#8!3'*!0'#0#.($%!)#!)3-*!37)*'!)/(.!=**)($%M!*\ V'*!)/*'*!3$9!$*&!%#3;.!9#8!$#&!&(./!)#!3</(*Q*M!

!@(X+#%&=-*+Q%&'(V7)*'!*Q*'9#$*!/3.!*D0'*..*4!)/*('!Q(*&.!<#==*$<*!5'3($.)#'=($%!&()/!)/*!08'0#.*!#7!7($4($%!3!.#$%c!&/(</!/3.!3!<#$$*<)(#$!&()/!9#8'!*D0*'(*$<*.!48'($%!)/*!Q(.()!!1!!+.=.&-#-%*&(

3\ C3</!%'#80!0'*.*$).!)/*!'*.8;).!#7!)/*('!4(.<8..(#$.!)#!3;;!#7!)/*!03')(<(03$).!5\ C3</!%'#80!0'*.*$).!)/*('!.#$%:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

B@!

OJ(;7''.=-.2(<*+4=0*>(P*+Q#-=(

(

E$!)/*!0'*Q(#8.!.*<)(#$!&*!0'#Q(4*!3$!#8);($*!#7!)/*!'3$%*!#7!3<)(Q()(*.!)/3)!=(%/)!5*!<3''(*4!#8)!($!

&#'-./#0!.*..(#$.:!2#&*Q*'c! ()!&(;;!$#)!5*!0#..(5;*! )#! <3''9!#8)!3;;! )/*.*!3<)(Q()(*.! ($!3$!*Q*$($%!

&#'-./#0!.*..(#$!#'!*Q*$!#Q*'!3!$8=5*'!#7!*Q*$($%.!3$4!.#=*!#7!)/*=!3'*!#$;9!300'#0'(3)*!7#'!

&**-*$4! #'! ;#$%*'! &#'-./#0.:! ,/3)! &*! 3'*! .**-($%! )#! 4#c! (.! 0'#Q(4*! 9#8! &()/! )/*! '3$%*! #7!

3<)(Q()(*.!7'#=!&/(</!9#8!<3$!</##.*!)#!<#$.)'8<)!3!0'#%'3==*!7#'!3!&#'-./#0:!,*!3'*!.*))($%!#8)!

5*;#&!&/3)!3!.*;*<)(#$!#7!)/*.*!()*=.!=(%/)!;##-!;(-*!($!3$!*Q*$($%!=**)($%!.*))($%:!

!

OJDJ(P*+Q#-()*+(#&(8:.&%&'(K..-%&'!

"#=*!&#'-./#0.!&(;;!5*!#'%3$(.*4!59!#$*! ($4(Q(483;!&/#! (.!'*.0#$.(5;*! 7#'!)/*! '8$$($%!#7!3;;! )/*!

&#'-./#0.:!!2#&*Q*'c!#)/*'.!=39!5*!#'%3$(.*4!#$!3!<;85!;(-*!53.(.:!!,/*'*!)/(.!(.!)/*!<3.*!&*!3'*!

#7!)/*!#0($(#$!)/3)!3!4(77*'*$)!0*'.#$!./#8;4!5*!'*.0#$.(5;*!7#'!*3</!&#'-./#0!.*..(#$:!^/(.!%(Q*.!

)/*!=*=5*'.!#7!)/*!&#'-./#0!3$!#00#')8$()9!)#!<#$48<)!3!=**)($%!3$4!)#!58(;4!<#$7(4*$<*:!^/*!

0*'.#$!'*.0#$.(5;*!./#8;4!0;3$!)/*!=**)($%!3$4!<#$)3<)!=*=5*'.! ($!34Q3$<*!&()/! '*%3'4!)#!3$9!

)3.-.!)/*9!=39!/3Q*!)#!<3''9!#8)!48'($%!)/*!<#8'.*!#7!)/*!.*..(#$:(

(

;>.9%Q.&(!+*'+#QQ.(B(1+=(FC(K%&=Y(

@(I0.94@(,&Y(A@!L($8)*.!

E$!#8'!*D0*'(*$<*c!()!(.!3!%##4!(4*3!)#!#0*$!3!&#'-./#0!.*..(#$!59!</*<-($%!($!&/3)e.!5**$!

/300*$($%!)#!)/*!03')(<(03$).!=8.(<3;;9!.($<*!)/*!;3.)!.*..(#$:!,/*$!)/*'*!3'*!$*&!0*#0;*!

3))*$4($%! )/*! .*..(#$! )/*9! ./#8;4! 5*! 3.-*4! )#! ($)'#48<*! )/*=.*;Q*.! 3$4! )/*! '*%8;3'!

=*=5*'.!./#8;4!3;.#!($)'#48<*!)/*=.*;Q*.!7#'!)/*!5*$*7()!#7!)/*!$*&<#=*':!

@( ;*&'5+%-%&'( I%+9".K! BP!L($8)*.c! ^/(.! 0'#Q(4*.! 03')(<(03$).! )#! 0'*.*$)! 3$4! '*<*(Q*! 7**453<-! #$!

)/*('!.#$%.(

@(X+.#4Y(A@!L($8)*.!

@(I*@<+%-%&'(8N.+9%=.K!R@!L($8)*.!

@(!+.=.&-#-%*&(*)(I*@5+%--.&(=*&'=Y(6@!L($8)*.!

@(8:#"7#-%*&(#&2(<+#>@7>Y(AP!L($8)*.!

^/*!)(=($%!$**4!$#)!5*!34/*'*4!)#!'(%(4;9!58)!()!(.!(=0#')3$)!)/3)!()!(.!5'#34;9!34/*'*4!)#!3$4!)/3)!

)/*!.*..(#$!7($(./*.!#$!)(=*:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

BA!

G$! .8<<**4($%!*Q*$($%.! )/*!<#$)*$)!#7! )/*!=**)($%!<3$!5*!Q3'(*4!59! </##.($%! 7'#=!.#=*!#7! )/*!

7#;;#&($%!3<)(Q()(*.K!

• N#49!3$4!O#<3;!,3'=180!

• E$)8()(Q*!"($%($%!

• "#$%!V$3;9.(.K!^3-*!3!0#08;3'!.#$%!3$4!/3Q*!3!4(.<8..(#$!#$!&/3)!=3-*.!()!3!/()!

• "#$%!`#<)#'!"*..(#$K!S*)!34Q(<*!#$!0'#5;*=.!&()/!.)'8<)8'*c!;9'(<.!#'!=*;#4(*.!

• S8*.)!.0*3-*'!

• ^*3</($%!.*..(#$!!

• L8.(<!^*</$(X8*!

• _*'7#'=3$<*!^(0.!

• "/#')!$#$1.#$%&'()($%!*D*'<(.*.!

• G)/*'!.#$%&'()($%!*D*'<(.*.!

!

(

OJBJ(P*+Q#-()*+(#(<..4.&2(

^/*! .)'8<)8'*!#7!3!&**-*$4!&#'-./#0!&(;;!4*0*$4!#$!3!$8=5*'! #7! (..8*.! .8</!3.! )/*!$8=5*'!#7!

03')(<(03$).c! )/*! $8=5*'! 3$4! *D0*'(*$<*! #7! )/*! #'%3$(.*'.! 3$4! )/*! *D0*'(*$<*! ;*Q*;! #7! )/*!

03')(<(03$).:!!V<<#'4($%;9c!9#8!<3$!%*)!.(%$(7(<3$)!Q3'(3)(#$.!($!)/*!0'#%'3==*:!

!

#J(X.=-(!+#9-%9.()+*Q(`c(

^/*!0'#%'3==*!5*;#&!(.! 7'#=!3!&#'-./#0!'8$! ($!)/*!d]!59!#$*!#7!#8'!=*=5*'.!`3$!_;*&.:!^/(.!

%(Q*.!3!7;3Q#8'!#7!&/3)!9#8!=(%/)!*D0*<)!)#!($<;84*!($!3!&**-*$4!&#'-./#0!

!

P+%2#$(L)-.+&**&\8:.&%&'(

• V''(Q3;>!Z*%(.)'3)(#$!• E$4(Q(483;!^8)#'(3;.!• `(.<8..(#$!#$!Z#93;)(*.!• J#1&'()($%!*D*'<(.*!• Z*.8;).!./3'($%!

!

;#-7+2#$(

• "#$%!<('<;*!• `(.<8..(#$.!#$!.)'8<)8'*!#7!.#$%.!• ,'()($%!*D*'<(.*!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

B6!

• L*;#49>/3'=#$9>.)'8<)8'*!4(.<8..(#$!• "*..(#$!

!

;7&2#$((

• "#$%!<('<;*!• J#1&'()($%!• _*'7#'=3$<*!&#'-./#0!• G0*$!=(<!

(

(

3J(X.=-(!+#9-%9.()+*Q(].&Q#+4(

<.2&.=2#$(DT@d(Y,*!&(;;!=3-*!.03%/*))(!&()/!=*3)!.38<*c!*3)c!%*)!3<X83($)*4c!0;39!=8.(<c!3$4!0(<-!80!0*#0;*!7'#=!)/*!3('0#')!3$4!58.!.)#0:!

/07+=2#$(DC@DBY!,#'-./#0 /07+=2#$(DB@DFY!F8$</!)*3=!0'*03'*.!;8$</ /07+=2#$(DF@DOY!F8$</ /07+=2#$(DO@DUY!J#1&'()*!#'!.#$%!<('<;* /07+=2#$(DU@DVY!`($$*'!)*3=!=3-*.!.#80 /07+=2#$(DV@DWY!`($$*' /07+=2#$(DWYFC@d(U'**!)(=* P+%2#$(DC@DBY!O#(<*!&#'-./#0!&()/!J/3';#))*!F3'.*$ P+%2#$(DB@DFY!F8$</!)*3=!0'*03'*.!;8$</c!4($$*'!)*3=!0'*03'*.!0(kk3!4#8%/ P+%2#$(DF@DOY!F8$</ P+%2#$(DO@DUY!J#1&'()*!#'!.#$%!<('<;* P+%2#$(DU@DVY!`($$*'!)*3=!0'*03'*.!0(kk3 P+%2#$(DV@DWY!`($$*' P+%2#$(DW@d!_'*.*$)3)(#$!'#8$4![*Q*'95#49!./#8;4!/3Q*!3''(Q*4!59!$#&\ ;#-7+2#$(DC@DB\DFY!J#1&'()*!#'!.#$%!<('<;* ;#-7+2#$(DB@DFY!F8$</!)*3=!0'*03'*.!;8$</ ;#-7+2#$(DF@DOY!F8$</ ;#-7+2#$(DO@DUY!J#1&'()*!#'!.#$%!<('<;* ;#-7+2#$(DU@DVY!`($$*'!)*3=!0'*03'*.!</(;;(!<#$!<3'$* ;#-7+2#$(DV@DWY!`($$*' ;#-7+2#$(DW@d!_3')9!w!/3$%($%!#8) ;7&2#$(DC@DB\DFY!J#1&'()*!#'!.#$%!<('<;* ;7&2#$(DB@DFY!F8$</!)*3=!0'*03'*.!;8$</ ;7&2#$(DF@DOY!F8$</ ;7&2#$(DO@DTY!^(49($%!80c!03<-($%c!73'*&*;;.!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

BB!

OJFJ(P*+Q#-()*+(#(<..4"*&'(<*+4=0*>(

,()/!3!&**-;#$%!&#'-./#0!()!(.!0#..(5;*!)#!($<;84*!Q(')83;;9!3;;!#7!)/*!3<)(Q()(*.!#8);($*4!($!#8'!=*$8!

*3';(*':!!,*!3'*!.*))($%!80!5*;#&!3!'*<#'4!#7!3<)(Q()(*.c!&/(</!)##-!0;3<*!#8).(4*!E$$.5'8<-c!V8.)'(3!

($!V0'(;!6@A@:!E)!(.!($!S*'=3$!58)!()!&(;;!%(Q*!9#8!3$!(4*3!#7!W8.)!/#&!=8</!3<)(Q()9!9#8!<3$!<'3=!($)#!

3!&**-:!L3$9!#7!)/*!03')(<(03$).!($!)/*!_;39($%!7#'!E$)*%'3)(#$!S'8$4)Q(%!0'#W*<)!&*'*!3;.#!($Q#;Q*4!

($!)/(.!&#'-./#0:!,*!&*'*!7#')8$3)*!($!/3Q($%!*D0*'(*$<*4!.#$%&'()*'.!3$4!=8.(<(3$.!3=#$%!)/*!

03')(<(03$).c!&/(</!=*3$)!)/3)!&*!&*'*!35;*!)#!;*3'$!7'#=!#$*!3$#)/*'!3$4!)/*!03')(<(03$).!;*4!3;;!

#7!)/*!&#'-./#0!.*..(#$.:!

,*!&*'*!3;.#!7#')8$3)*!($!)/3)!)/*!C8'#0*3$!F(7*;#$%!F*3'$($%!S'8$4)Q(%!_'#%'3==*c!&/(</!=*3$)!

)/3)! ()!&3.! 0#..(5;*! )#! 3))'3<)! 3!&(4*! '3$%*! #7! *D0*'(*$<*4! .#$%&'()*'.! 3$4! 08)! #$! 3$! *D)*$.(Q*!

0'#%'3==*c!0'#Q(4*4!)/*!78$4($%!7#'!)/*!&#'-./#0:!

(

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

B?!

!

24. 04. – 01. 05. 2010

Innsbruck, Austria

GUFL, Tulferberg 60 6075 Tulfes

!Programm: 24.04 – 01.05.2010 ! Samstag, 24.4.2010 ab 9.00 Ankunft der ersten Teilnehmer in München Airport

15.00 Treffpunkt am Frachtenbahnhof 17.00 Ankunft GUFL Treffen mit anderen Teilnehmern 18.30 Abendessen auf der Terrasse

20.00 Eröffnung

• Erklärung der Vision • Kennen lernen: Visitenkarte,

Teamübungen • Klärung von organisatorischen

Belangen 22.00 Kennenlern- und EröffnungsParty & Freies Musizieren

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

BP!

! Sonntag, 25.4.2010 9.00 - 10.00 Frühstück 10.15 Bildung von 4 Gruppen, eine weitere bildet sich nach dem Mittagessen GruppenAuftrag:

• „Musikalisches“ Kennen lernen • Songwriter-Circle • Song schreiben: für Anita (= Köchin)

bzw. für Menschen, die im Hintergrund arbeiten und deren Arbeit für „uns“ so wichtig ist!

12.30 Mittagessen

• Programmplanung, Besprechung offener Fragen, Feedback

13.15 – 17.00 Weiterführung der Gruppenarbeiten 17.00 Präsentationen der Songs (= die ersten 5 Songs des Workshops) 18.30 Abendessen 19.00 Erstellung des Programms

• Eckpunkte: Lifemöglichkeiten, Sightseeing, Monitoring, ....

• Teilnehmer stellen ihre Workshops vor, Thema, Inhalt, Dauer und legen fest, wann sie ihn machen wollen

• Koordination der Workhops mit Pinnwand und PC

21.00 1. Workshop: Vokal Group Improvisation, Harmen, danach

• Erste Recordings • Song Circles: Teilnehmer spielen sich

ihre eigenen Songs vor und diese werden von den anderen kommentiert, analysiert, kritisiert.

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

BR!

! Montag, 26.4.2010 9.00 - 10.00 Frühstück 10.00 – 10.30 2. Workshop: Bodywork for Singing, Karin Rabansl 10.30 – 11.30 3. Workshop: Co-Writing, Jonas 11.30 – 13.00 4. Workshop: Soundchecking & „What a Songwriter needs“, Dan & Herwig Heta & Katharina, Songwriting 13.30 Mittagessen

• Programmplanung, Besprechung offener Fragen, Feedback

15.00 Co-Writing-Session, Jonas

• 9x 2er Gruppen • 3 Begriffe ziehen • Überbegriff „Ocean“

17.30 Präsentationen 18.45 Abendessen 20.15 – 22.00 5. Workshop: Improvisation, Harmen 20.45 – 22.00 Songwriter-Circle

• Analyse von eigenen Songs • Dan und ca. 5 Teilnehmer

22.00 – 23.30 6. Workshop: Bossa Nova, Karin Haslinger ab 23.30 Freies Musizieren

!!!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

BT!

! Dienstag, 27.4.2010 Bis 9.30 Frühstück 10.00 – 11.00 7. Workshop: Vocal Improvisation & Warming up, Katharina 11.00 – 12.30 Hiking Geführte Wanderung durch den Tourismusverband Hall 8. Workshop: Lernen eines norwegischen Volksliedes

13.15 Mittagessen

• Programmplanung, Besprechung offener Fragen, Feedback

15.00 Abfahrt nach Innsbruck

• Individuelles Sightseeing • Co-Writing im Cafe Galerie und am

Innsbrucker Dom-Platz

22.00 Konzert im La Cabana: Einzel- und Gruppenperformances 1.00 – 1.30 Heimreise, Busfahrt: Non-Stop – Acapella – Singing 1.30 -2.30 9. Workshop: Irish Dancing, Dan

!!!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

BY!

Mittwoch, 28.4.2010 Bis 9.30 Frühstück 9.45 – 11.00 9. Workshop: Vokal Training, Katarina 11.00 – 13.00 10. Integration-Workshop, Christof

• 6 Gruppen: (Österreich), (Deutschland), (Westeuropa), (Irland und England), (Nordeuropa), (Süd- und Osteuropa)

• Text zum Beatles-Song „Hey Jude“ • Thema: Integration bzw. Umgang

MITEINANDER in schwierigen Situationen

• Verdichtung der Gruppen: aus 6 Gruppen werden 3, die sich einigen müssen

13.00 Mittagessen

• Programmplanung, Besprechung offener Fragen, Feedback

14.00 – 15.00 Präsentationen

• Bildung von Delegiertengruppe

15.00 – 18.30 Co-Writing 18.30 Abendessen 19.30 – 22.00 12. Workshop: Logic Pro, Introduction, John gleichzeitig:

• Aufnahmen • Proben • Freies Musizieren

!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

Bh!

! Donnerstag, 29.4.2010 Bis 9.30 Frühstück 10.00 – 11.00 13. Workshop: Music Marketing Enrico 11.00 - 12.30 14. Workshop: Publishing Royalities, Dan

• Besuch Edi Ruetz (Tiroler Musiker) 13.30 Mittagessen

• Programmplanung, Besprechung offener Fragen, Feedback

• Ausgabe der Feedback-Bögen • Ausgabe der Abrechnungsbögen

14.30 – 16.00 15. Workshop: Learning Partnership, Christof 18.00 – 20.00 16. Workshop: How to use a Loop: Heta & David

20.00 Barbecue

• Besuch Siegfried Walch (Tiroler Musiker)

• Party& Playing

23.00 Recordings 2.00 -2.30 Workshop: What is Love?, Valentin

!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?@!

! Freitag, 30.4.2010 Bis 9.30 Frühstück

• Recordings • Co-Writing & Proben • Sammeln und Zusammenstellung der

Songtexte & Workshop-Inhalte 13.00 Mittagessen

• Programmplanung, Besprechung offener Fragen, Feedback

14.00 – 15.00 Rückzahlung der Reisekosten zuglkeich

• Aufnahmen • Proben • Recordings

15.00 – 18.00 17. Workshop: Networking & Booking Gigs, Shane

• Jeder erzählt seinen Zugang zur Musik und was er für weitere Projekte beitragen möchte

18.15 Abendessen

• Packen & Aufräumen 20.00 Abfahrt nach Innsbruck, Poolcafe

22.00 Präsentation der Workshop-Ergebnisse:

• 22 Songs, die nicht alle gespielt werden können...

3.30 Heimfahrt

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?A!

! Samstag, 1.5.2010 6.00 Abreise Valentin & Bogdan 10.00 Auto-Abreise Alveric & Heta 10.00 Fahrt zum Bahnhof: Fergus & Karin R. 12.00 Auto-Abreise Peter & Herwig 12.00 Flughafentaxi: Tony & Dan & Karin & Harmen & Shane 13.00 Flughafentaxi: Katharina & Jonas & John & Vibeke & David & Ana 15.30 Abreise Christof Fink

!!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?6!

RJ(!.+)*+Q#&9.(S>>*+-7&%-%.=(

(

!.+)*+Q#&9.(#&2(I*&9.+-=((

,/(;*!.#=*!0*#0;*!=39!./'($-!7'#=!0'*.*$)($%!)/*('!$*&;91&'())*$!.#$%.c!#)/*'.!=39!5*!*D<()*4!3)!

)/*!0'#.0*<)c!.#!3;)/#8%/! ()! (.! (=0#')3$)!)#!/3Q*!3!0'(Q3)*!.03<*!&()/#8)! ($)*''80)(#$!7'#=! g$#$1

03')(<(03$).ec! 3$! #00#')8$()9! )#! ./3'*!&#'-!085;(<;9! <3$!5*!58(;)! ($! )#! )/*!&#'-./#0:! E7! )/*'*! (.!3!

.800#')(Q*c! '*%8;3';9! '8$! ;#<3;! *Q*$)c! .8</! 3.! 3$! #0*$!=(<c! ()! (.!&#')/! g0(%%9153<-($%e! #$! ()! 7#'! 3!

085;(<!./#&<3.*:!!

!

67&&%&'($*7+(*5&(.:.&-(

E7! )/*! #'%3$(.*'.! 4*<(4*! )#! 0'#=#)*! 3! <#$<*')! )/*=.*;Q*.c! )/*9! ./#8;4! 5*! 3&3'*! #7! )/*! %'*3)*'!

)(=*c!*77#')!3$4!*D0*')(.*![)*</$(<3;c!085;(<()9c!.*)180c!;#%(.)(<.c!*)<:\!($Q#;Q*4!($!4#($%!.#:!!

;*Q.(9*&=%2.+#-%*&=(%&9"72.Y(

• "=3;;1.<3;*!*Q*$).!'8$!;*..!7($3$<(3;!'(.-c!'*X8('*!;*..!)(=*!3$4!*D0*')(.*!3$4!8.83;;9!'*.8;)!($!

3!5*))*'!3)=#.0/*'*!

• ,()/! ;3'%*'! %'#80.! ()e.! (=0#')3$)! )#! *.)35;(./! 3! '8$$($%! #'4*'! ($! 34Q3$<*l! )#! 4#! )/(.c! 9#8!

./#8;4!./3'*!)/*!0'#)#<#;.!3$4!<'()*'(3!7#'!0*'7#'=3$<*!&()/!03')(<(03$).!&*;;!($!34Q3$<*l!

• "*)!3!)#)3;!0*'7#'=3$<*!;*$%)/!&()/!'*%8;3'!5'*3-.!

• E7! $*<*..3'9c! ;(=()! )/*! $8=5*'! #7! .#$%.! 3$! ($4(Q(483;! &'()*'! <3$! =3-*l! )/(.! =39! ($Q#;Q*!

<#=0'#=(.*.!#$!)/*('!03')c!03')(<8;3';9!(7!)/*9!/3Q*!<#1&'())*$!&()/!4(77*'*$)!0*#0;*!

• C$.8'*! )/3)!$#$10*'7#'=($%!&'()*'.!3$4! )/#.*!&/#!$**4!3!=8.(<(3$! )#!0'*.*$)! )/*('! .#$%!

3'*!<#$.(4*'*4!($!)/*!35#Q*![($4(Q(483;!=8.(<(3$.!=39!$#)!4#!.#\!

• "*)!3!)(=*!;(=()!7#'!*3</!0*'7#'=3$<*!

• `*;*%3)*! '*.0#$.(5(;()9! )#! 03')(<(03$).! #'! Q#;8$)**'.! 7#'! .)3%*! =3$3%*=*$)l! <#=03'($%l!

.#8$4!*$%($**'($%!

• E$Q()($%!3!g%8*.)!3')(.)e!<3$!($<'*3.*!*D0*<)3)(#$!3$4!384(*$<*!.(k*c!58)!<3'*!./#8;4!5*!)3-*$!

$#)!)#!W*#03'4(.*!)/*!7($3$<(3;!.8<<*..!#7!)/*!&#'-./#0!

(

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?B!

TJ(/.90&%9#"(#&2(A*'%=-%9#"(,==7.=(

(

#J(<0#-(.[7%>Q.&-(2*($*7(&..2d(

f#8! <3$! .)3')! 3! .#$%&'()($%!&#'-./#0! 3$4!=3-*! Q*'9! %##4! 0'#%'*..!&()/! ;(=()*4! '*.#8'<*.:! ! E$!

=3$9!<3.*.!3;;!9#8!$**4!(.!3!%8()3'!3$4!3!$#)*034!3$4!)/*!Q#(<*!=*=#!300;(<3)(#$!#$!9#8'!=#5(;*!

0/#$*!($!#'4*'!)#!&'()*!.#$%.:!2#&*Q*'c!&*!&#8;4!'*<#==*$4!)/3)!9#8!<#$.(4*'!($<;84($%!.#=*!#'!

3;;!#7!)/*!7#;;#&($%!($!#'4*'!)#!=3D(=(.*!)/*!#8)08)!#7!9#8'!&#'-./#0:!

• S*$*'3;;9c!.#$%&'()*'.!3'*!3;.#!%8()3'(.).c!&/#!5'($%!3;#$%!)/*('! ($.)'8=*$)!)#!)/*!&#'-./#0!

3$4!)/3)!(.!)/*!&39!()!./#8;4!5*:!

• E7!.#=*!#7!9#8'!03')(<(03$).!0;39!]*95#3'4.!()!(.!/*;078;!(7!9#8!/3Q*!#$*!3)!)/*!Q*$8*!

• V!<#=08)*'!&()/!3<<*..!)#!,(1U(!

• ^/*'*!3'*!=3$9! 7($*! )8)#'(3;.!3$4! )3;-.!3Q3(;35;*!#$! f#8^85*!&/(</!9#8!<3$! 8.*!3.!03')! #7!

9#8'!0'#%'3==*!!

• I#)*030*'!>!_'($)*'!

• V!'*3.#$35;*!X83;()9!'*<#'4($%!4*Q(<*!

!

3J(6.9*QQ.&2.2(8[7%>Q.&-()*+(S+'#&%=.+=(

8==.&-%#"K!7('.)!3(4!-()l!&'()($%!*X8(0=*$)l!!

6.9*QQ.&2.2K! <#=08)*'! &()/! 0'($)*'c! &('*;*..! <#$$*<)(#$c! &#'-./#01300'#0'(3)*! '*34($%!

=3)*'(3;.c! 0'#W*<)#'c! '*7'*./=*$).! 3$4! $3=*! 534%*.:! ,*;<#=*! 03<-! ($<;84($%K! U;##'! 0;3$! #7!

;#<3)(#$! +! )#(;*).c! *D().c! )*3</($%! '##=.c! 0;3$$*4! .</*48;*c! 5;3$-! .</*48;*! [m! .03<*! 7#'!

3=*$4=*$).!3$4!344()(#$.\c!#'%3$(.*'!3$4!<#$<(*'%*!<#$)3<)!$8=5*'.:!

!

9J(6.9*QQ.&2.2(8[7%>Q.&-()*+(!#+-%9%>#&-=(

C3'0;8%.l!$#)*5##-!3$4!0*$l!=*=#'9!.)(<-l!0/#$*!&()/!<3=*'3!3$4!Q#(<*!'*<#'4!78$<)(#$l!'*34($%!

=3)*'(3;c!($<;84($%!.#$%&'()($%1'*;3)*4l!&#'-.1($10'#%'*..l!.=3;;!3=#8$)!#7!<3./!

(

2J(!+.>#+#-%*&(E(9*QQ7&%9#-%*&(5%-0(>#+-%9%>#&-=(

J;*3'! <#==8$(<3)(#$!&()/! 03')(<(03$).c! 0'*7*'35;9! 59! *=3(;c! ($! 34Q3$<*! #7! 3! &**-*$4! #'! ;#$%*'!

&#'-./#0!(.!(=0#')3$)!3$4!=(%/)!./3'*!)/*!7#;;#&($%!($7#'=3)(#$K!

• ,/3)!)/*9!./#8;4!5'($%!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

??!

• I3)8'*!#7!3<<#==#43)(#$>5*44($%!(7!0'#Q(4*4!

• _85;(<!)'3$.0#')!;($-.!3$4!;#<3;!3<<#==#43)(#$!(7!300'#0'(3)*!

• `(*)3'9!'*X8('*=*$).!

• ")3')!3$4!*$4!)(=*.!

• C=*'%*$<9!<#$)3<).!

• _3'-($%!

• 2#8.*1-**0($%K!J8'7*&>X8(*)!3'*3.>;3)*!$(%/)!3'*3.>.=#-($%!3'*3.!

!

.J(]%)).+.&-%#-%*&(

G'%3$(.*'.! ./#8;4! 5*! <#$.<(#8.! #7! )/*! &39! )/3)! 4(77*'*$<*.! ($! [7#'! *D3=0;*\! 3%*c! *)/$(<()9c!

4(.35(;()9c! ;3$%83%*! 3<X8(.()(#$! 3$4! *D0*'(*$<*! &(;;! 377*<)! 03')(<(03$).e! *$%3%*=*$)! 3$4!

3</(*Q*=*$)! ($!)/*!&#'-./#0:!f#8!<3$!*.)35;(./!&/3)!)/*.*!4(77*'*$<*.!3'*!5*7#'*!)/*!&#'-./#0!

5*%($.!+!3$!*3.9!&39!(.!)#!.*)!80!3$!#$;($*!X8*.)(#$$3('*:!"**!&&&:.8'Q*9=#$-*9:<#=!

,/3)! 0'#Q(.(#$! (.! 3Q3(;35;*! 7#'! 0*#0;*! &()/! 4(.35(;()(*.! ./#8;4! 5*! =34*! <;*3'! 3)! #'! 5*7#'*! )/*!

<#==*$<*=*$)!#7!)/*!&#'-./#0M!

!

)J(I0**=%&'(#&2(9*&)%'7+%&'(=>#9.=(#&2("*9#-%*&=(

"#=*!3<)(Q()(*.!.8()!<('<;*.K!(7!.#c!)/*.*!./#8;4!5*!3.!)(%/)!3.!0#..(5;*!&/(;*!.)(;;!3;;#&($%!*3</!0*'.#$!

)#!=3-*!*9*!<#$)3<)!&()/!#)/*'.:!N*3'!($!=($4!)/3)!3!'##=!&()/!03'X8*)!7;##'($%!/(%/!<*(;($%.!=39!

5*!3$! (=0'*..(Q*!.03<*c!58)!*</#*.!3$4!'*Q*'5!<3$!=3-*! ()!=#'*!4(77(<8;)! 7#'!03')(<(03$).!)#!/*3'!

3$4!8$4*'.)3$4!*3</!#)/*'c!03')(<8;3';9! (7! )/*9!3'*!<#==8$(<3)($%! ($!3! ;3$%83%*!#)/*'!)/3$!)/*('!

$3)(Q*!)#$%8*:!

(

'J(1*5(*)-.&(=0*7"2($*7(0*"2(+.'7"#+(5*+4=0*>(=.==%*&=d(

,*!3'*!#7!)/*!#0($(#$!)/3)!($()(3;;9!9#8!./#8;4!=**)!*Q*'9!)&#!&**-.!3$4!.**!/#&!%##4!3!7()!)/(.!(.!

7#'!)/#.*!3))*$4($%:!!2#&!9#8!0'#<**4!&(;;!4*0*$4!80#$!)/*!4*%'**!#7!4*4(<3)(#$!#7!)/*!#'%3$(.*'.!

3$4!)/*!*$)/8.(3.=!#7!)/*!03')(<(03$).:!

!

,*!3;.#!5*;(*Q*!)/3)!()!(.!(=0#')3$)!)/3)!.#$%&'()*'.!/3Q*!3$!#00#')8$()9!)#!0*'7#'=!)/*!.#$%.!)#!3!

&(4*'!384(*$<*:!,()/!)/(.!($!=($4c!()!=39!5*!300'#0'(3)*!3;)*'$3)*!5*)&**$!&#'-./#0!.*..(#$.!3$4!

0*'7#'=3$<*!#00#')8$()(*.:!^/*.*!<3$!5*!59!&39!#7!*Q*$).c!&/(</!)/*!#'%3$(.*'.!'8$!)/*=.*;Q*.!#'!

*;.*!9#8!<#8;4!0(%%953<-!#$!3$!#0*$!=(<!.*..(#$!3.!($4(<3)*4!*;.*&/*'*!($!)/(.!/3$45##-(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?P!

0J(,&=7+#&9.(.-9J(

_85;(<!F(35(;()9! E$.8'3$<*!+!=*=5*'.!#7!)/*!L8.(<(3$.!d$(#$! ($!)/*!d]!/3Q*!xA@=!_85;(<!F(35(;()9!

E$.8'3$<*c!3$4!Q*$8*!($.8'3$<*!./#8;4!5*!</*<-*4l!73(;8'*!)#!)3-*!#8)!085;(<!;(35(;()9!($.8'3$<*!<3$!

53$-'80)!3$9!#'%3$(.3)(#$!#'!($4(Q(483;:!

V$9!*;*<)'(<3;!*X8(0=*$)![*:%:!_V>V=0.c!Z*<#'4($%!*X8(0=*$)c!0'($)*'.\!./#8;4!5*!_V^1)*.)*4!59!3!

X83;(7(*4!*;*<)'(<(3$:!!

E$! 344()(#$! )#! )/*! Q*$8*e.! #&$! '(.-! 3..*..=*$)c! 3! '(.-! 3..*..=*$)! ./#8;4! 5*! <3''(*4! #8)! 59! )/*!

#'%3$(.*':!

V!7('*!;(.)!&()/!*=*'%*$<9!<#$)3<).!./#8;4!5*!./3'*4!3$4!8043)*4!#$!3!43(;9!53.(.:(

(

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?R!

UJ(S+'#&%=#-%*&#"(;-+79-7+.=(

!

UJDJ(;.--%&'(7>(#(=*&'(5+%-%&'(*+'#&%=#-%*&!

^/*! 7('.)! .)*0.! ($Q#;Q*! %*))($%! 3! %'#80! #7! &*;;! =#)(Q3)*4! ($4(Q(483;.! )#%*)/*'! &/#! /3Q*! 3! 53.(<!

-$#&;*4%*! #7! .#$%&'()($%! 3$4! /3Q*! 3! <#==()=*$)! )#! <'*3)*! 3! .03<*! &/*'*! 3'*! )/*('! #&$! 3$4!

#)/*'.e!.#$%&'()($%!.-(;;.!=39!5*!$8')8'*4!3$4!4*Q*;#0*4:!

G8'!*D0*'(*$<*!(.!)/3)!%*))($%!3!'*%8;3'!.#$%&'()($%!&#'-./#0!#77!)/*!%'#8$4!(.!3!.;#&!0'#<*..!3$4!

()!'*X8('*.!03)(*$<*!#$!)/*!03')!#7!)/#.*!&/#!3'*!0'#=#)($%!():!E)!(.!Q*'9!4(77(<8;)!7#'!#$*!0*'.#$!)#!

4#! ()! #$! /(.! #'! /*'! #&$! 3$4! &*! '*<#==*$4! )/3)! )/*'*! ./#8;4! 5*! 3)! ;*3.)! )&#! <#==())*4!

.#$%&'()*'.!&/#!3'*!0'*03'*4!)#!8$4*')3-*!.8</!3!0'#W*<):!^/*!=3($!'*3.#$!&*!.39!)/(.!(.!)/3)!($!

)/*!($()(3;!0/3.*!)/*'*!=39!5*!Q*'9!7*&!3))*$4($%!3$4!($!)/#.*!<('<8=.)3$<*.!()!(.!X8()*!*3.9!)#!%*)!

4(.<#8'3%*4:!2#&*Q*'!(7!)/*'*!3'*!)&#!#'!=#'*!4*4(<3)*4!0*#0;*! ($Q#;Q*4!)/*$!)/*9!<3$!/#;4!)/*!

.03<*!8$)(;!&#'4!%*).!#8)!)/3)!3!&#'-./#0!(.!80!3$4!'8$$($%!#$!3!'*%8;3'!53.(.:!

!

UJBJ(A*9#-%*&(

,/*$!)/*9!3'*!.)3')($%!#8)!.#$%&'()*'e.!%*$*'3;;9!4#!$#)!/3Q*!3!%'*3)!4*3;!#7!=#$*9!3Q3(;35;*!)#!

)/*=! .#! ()! (.! (=0#')3$)! )/3)! 9#8! %*)! 3<<*..! )#! 3$! ($*D0*$.(Q*! ;#<3)(#$! E$()(3;;9c! )/(.! =39! 5*! ($!

.#=*5#49e.! /#=*c! 58)! )/(.! <3$! 5*! 8$.3)(.73<)#'9! .#! 9#8! ./#8;4! <#$.(4*'! 300'#3</($%! ;#<3;!

*48<3)(#$3;! ($.)()8)(#$.!#'!3').! ($.)()8)(#$.!&/#!=39!5*!35;*!)#!0'#Q(4*!9#8!&()/!3<<#==#43)(#$!

#$!3!4(.<#8$)*4!53.(.:!,/*$!;##-($%!7#'!3<<#==#43)(#$c!(4*3;;9!9#8!./#8;4!/3Q*!#$*!'##=!&/*'*!

)/*!=3($!3<)(Q()9!)3-*.!0;3<*!&()/!3<<*..!)#!#)/*'!'##=.!7#'!<#1&'()($%!3<)(Q()(*.c!3.!()!(.!4(77(<8;)!7#'!

3! $8=5*'! #7! %'#80.! )#!&'()*! .#$%.! ($! )/*! #$*! '##=:! f#8! ./#8;4! 3;.#! *$.8'*! )/3)! _85;(<! F(35(;()9!

E$.8'3$<*!<#Q*'.!9#8'!3<)(Q()(*.:!

(

UJFJ(P%+=-(;-.>=(

E$! )/*! ($()(3;! 0/3.*! &*! *D0*<)! )/3)! )/*! 34=($(.)'3)(Q*! .)'8<)8'*.! &(;;! 5*! ($7#'=3;! 5*<38.*! ()! (.!

8$;(-*;9! )/3)! )/*'*! &(;;! 5*! .877(<(*$)! 0*#0;*! 3))*$4($%! )/*! &#'-./#0.! ($! #'4*'! )#! /3Q*! 3! 78;;!

<#==())**!.)'8<)8'*:!

"#!&/3)!9#8!3'*!;(-*;9!)#!/3Q*!(.!3!7#8$4*'!3$4!<#17#8$4*'c!&/#!&(;;!;##-!37)*'!34=($(.)'3)(#$!8$)(;!

.8</!)(=*!3.!)/*!#'%3$(.3)(#$!(.!'*349!7#'!=#'*!7#'=3;!.)'8<)8'*.:!^/*!0'#%'*..!)#!7#'=3;!.)'8<)8'*.!

&(;;!4*0*$4!#$!)/*!.8<<*..!($!3))'3<)($%!=*=5*'.:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?T!

^/*!34=($(.)'3)(#$!)*3=!&(;;!.*)!)/*!4('*<)(#$!7#'!)/*!3<)(Q()(*.!#7!)/*!&#'-./#0!3$4! (.! (=0#')3$)!

)/3)!)/*9!=**)!($4*0*$4*$);9!#7!)/*!&#'-./#0!3<)(Q()(*.!($!#'4*'!)#!*$.8'*!)/3)!)/*'*! (.!*77*<)(Q*!

0;3$$($%:!

(

UJOJ(L%Q=(#&2(S3e.9-%:.=(

G$*!#7!)/*!*3';(*'!)3.-.c!&/(</!)/*!7#8$4*'.!#7!3!.#$%&'()($%!&#'-./#0!./#8;4!4*<(4*!80#$! (.!)/*!

3(=.!3$4!#5W*<)(Q*.!#7!)/*!#'%3$(.3)(#$:!^/(.!&(;;!<;3'(79!)/*!$3)8'*!#7!3<)(Q()(*.!)/3)!)/*9!($)*$4!)#!

5*!($Q#;Q*4!($!3$4!3;.#!%(Q*!)/*=!3!.#8'<*!#7!08'0#.*:!

^/*!3(=.!3$4!#5W*<)(Q*.!#7!)/*!/#""#'0-(;*&'5+%-%&'(I*"".9-%:.c!&/(</!(.!'8$!59!)/*!=*=5*'.!#7!#8'!

E'(./!_3')$*'!(.!.*)!#8)!5*;#&:!

!

!!

^3;;3%/)! "#$%&'()($%! J#;;*<)(Q*! [^"J\! (.! 3! %'#80! #7! ($4(Q(483;.! 4*4(<3)*4! )#! )/*! 4*Q*;#0=*$)! #7!

.#$%&'()*'.! ($! )/*! "#8)/! `85;($! V'*3:! E)! (.! 3..#<(3)*4! &()/! ^3;;3%/)! J#==8$()9! V').! 3$4! =**).!

7#')$(%/);9!($!)/*!Z83!Z*4!N8(;4($%!($!^3;;3%/):!E)!(.!3;.#!3..#<(3)*4!&()/!_;39($%!7#'!E$)*%'3)(#$!&/(</!

(.!3!C8'#0*3$!"#$%&'()($%!J#;;*<)(Q*!&/(</!0'#=#)*.!%'*3)*'! ($)*%'3)(#$! ($!C8'#0*! )/'#8%/!<'#..!

5#'4*'!Q(.().!)#!&'()*!.#$%.!3$4!*D0;#'*!*3</!#)/*'e.!)'34()(#$3;!=8.(<!3$4!<8;)8'3;!/*'()3%*:!!

^"J!3(=.!)#!4*Q*;#0!)/*!.#$%&'()($%!.-(;;.!#7!().!=*=5*'.!59!*$%3%($%!($!3!'3$%*!#7!3<)(Q()(*.!&/(</!

($<;84*!<#1&'()($%c! ;*<)8'*.c! )*3</($%c!*D0;#'3)(#$!#7!4(77*'*$)!.#$%&'()($%!%*$'*.!3$4!.#$%&'()($%!

<('<;*.:! "#$%&'()($%! <('<;*.!*$35;*!=*=5*'.! )#! '*<*(Q*! 7**453<-!#$! .#$%.! )/3)! )/*9!/3Q*!&'())*$:!

,*! 3;.#! 0'#Q(4*! #00#')8$()(*.! 7#'! #8'! =*=5*'.! )#! '*<#'4! )/*('! .#$%.! 3$4! )#! 0*'7#'=! )/*=! ($!

085;(<:!!

^"J!(.!3;.#!4*Q*;#0($%!3$4!=3($)3($($%!<#$)3<).!&()/!#)/*'!.#$%&'()($%!%'#80.!5#)/!($!E'*;3$4!3$4!

35'#34!3$4!&*!.**-!78$4($%!)#!)/*.*!3<)(Q()(*.::!

,*!*D0*<)!#8'!=*=5*'.!)#!/3Q*!.#=*!=8.(<3;!.-(;;.!#'!3!73<(;()9!&()/!Q*'.*:!L*=5*'.!./#8;4!5*!AY!

9*3'.!#'!#Q*':!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?Y!

UJOJ(L2Q%&%=-+#-%:.(;-+79-7+.=(

E$!)(=*!)/*!34=($(.)'3)(#$!)*3=!<3$!5*!*D03$4*4!)#!<#=0'(.*!3! 7#'=3;!<#==())**!=34*!80!#7!3!

J/3('0*'.#$c!3!"*<'*)3'9c!3!^'*3.8'*'!3$4!3!$8=5*'!#7!#'4($3'9!=*=5*'.:!V)!)/*!*3';9!.)3%*.!)/*.*!

=*=5*'.!&(;;! 5*! .*;*<)*4! 3$4! 3.! )/*! #'%3$(.3)(#$!=3)8'*.! 0'#0*'! *;*<)(#$! 0'#<*48'*.! <3$! )3-*!

0;3<*:!

(

8N#Q>".Y(I*QQ%--..(6.=>*&=%3%"%-%.=(

I0#%+>.+=*&(

• ^/*!#Q*'3;;!4('*<)(#$!#7!)/*!#'%3$(.3)(#$!

• Z*0'*.*$)($%!)/*!#'%3$(.3)(#$!($!().!4*3;($%.!&()/!#)/*'!5#4(*.!

• ^/*!<3;;($%!#7!=**)($%.!

• !GQ*'.**($%!3;;!3<)(Q()(*.!

;.9+.-#+$(

• ^/*!-**0($%!#7!=($8)*.!#7!=**)($%.!

• `*3;($%!&()/!<#''*.0#$4*$<*!

/+.#=7+.+(

• V;;!7($3$<(3;!=3))*'.!

S+2%&#+$(K.Q3.+=(

• "800#')($%!)/*!#77(<*'.!($!)/*!4(.</3'%*!#7!)/*('!48)(*.!

(

UJRJ(P+.[7.&9$(*)(K..-%&'=(

^/*!7'*X8*$<9!#7!=**)($%.!&(;;!4*0*$4!80#$!)/*!3=#8$)!#7!3<)(Q()9!)/3)!)/*!#'%3$(.3)(#$!</##.*.!

)#!5*<#=*!($Q#;Q*4!($:!E$!3$9!*Q*$)c!&*!'*<#==*$4!)/3)!)/*!<#==())**!./#8;4!=**)!#$!3!=#$)/;9!

53.(.!3$4!#$!3!=#'*!'*%8;3'!53.(.!(7!)/(.!(.!<#$.(4*'*4!300'#0'(3)*:!^/*!08'0#.*!#7!)/*!=**)($%.!(.!

)#!%(Q*! 7#<8.! )#! )/*!3<)(Q()(*.!#7! )/*!#'%3$(.3)(#$:! U#'=3;!=($8)*.! ./#8;4!5*!-*0)!3$4!3! 7($3$<(3;!

'*0#')!(..8*4!7'#=!)(=*!)#!)(=*:!

!

UJTJ(I*QQ7&%9#-%*&=(

C=3(;!3$4!)*D)!3'*!)/*!0'*7*''*4!=*)/#4!#7!<#==8$(<3)(#$.!&()/!03')(<(03$).:!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

?h!

UJUJ(A.'#"(8&-%-%.=(

^/*! ;*%3;! .)3)8.!#7! )/*! .#$%&'()($%!#'%3$(.3)(#$!&(;;!4*0*$4!#$!/#&! ()!#'(%($3)*4!3$4!&/*'*! ()! (.!

%#($%:!E$!().!*3';(*.)!.)3%*.!()!&(;;!0'#535;9!5*!3$!8$($<#'0#'3)*4!5#49:!E)!=39!5*!03')!#7!3!;3'%*'!3').!

#'%3$(.3)(#$! #'! )*3</($%! #'%3$(.3)(#$:! V.! ()! *Q#;Q*.! ()!=39! 5*! 300'#0'(3)*! ($<#'0#'3)*! ().*;7! 3.! 3!

<;85! #'! 3.! 3! 0'(Q3)*! <#=03$9! ;(=()*4! 59! %83'3$)**:! G$*! #7! )/*! =#.)! <'()(<3;! (..8*.! (.! )/3)! ().!

3<)(Q()(*.!3'*!8$4*'!3$!8=5'*;;3!#7!085;(<!;(35(;()9!($.8'3$<*:!

!

!

8N#Q>".(DY((V#')3.!(.!#8'!d]!_3')$*'!3$4!(.!3!0'(Q3)*!<#=03$9!;(=()*4!59!%83'3$)**(

E$!)/*!d]!.*))($%!80!.8</!3!<#=03$9!<#.).!;*..!)/3$!x6Pc!58)!)/*!3<<#8$)($%!3$4!384()($%!<#.).!3$4!

<#==()=*$)!./#8;4!$#)!5*!8$4*'*.)(=3)*4:!

^/*!<#=03$9!#0*'3)*.!3!&*5.()*c!*=3(;13$4!.=.1;(.)c!3$4!3!U3<*5##-!03%*c!3.!&*;;!3.!34Q*')(.($%!#$!

U3<*5##-:!L*+-#=e! 7#8$4*'c! `3$! _;*&.c! 4#*.! =#.)! #7! )/*! &#'-! 3$4! 4*<(.(#$1=3-($%:! O#;8$)**'1

03')(<(03$).!/*;0!085;(<(.*!*Q*$).c! )3-($%!0/#)#.!3$4!Q(4*#!3)! )/*!*Q*$).! )/*=.*;Q*.!3$4!/*;0($%!

&()/!<3)*'($%!3$4!;#%(.)(<.:!,#'-./#0!0'(<*.!3'*!4*)*'=($*4!#$!3!a<#.)10;8.b!53.(.c!&()/!3$9!0'#7().!

5*($%!'*)3($*4!3$4!($Q*.)*4!($!78)8'*!*Q*$).:!

!

((

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

P@!

8N#Q>".(BY(L&(.N>.+%.&9.(*)(=.--%&'(7>(#(+.'7"#+(5*+4=0*>(

P`MfA8L6M! (.! #8'! V8.)'(3$! _3')$*'! ($! )/*! _'#W*<):! ! ^/(.! (.! )/*('! *D0*'(*$<*! ($! .*))($%! 80! 3!

&#'-./#0:!

!#J(X#94'+*7&2(

E$! )/*! V0'(;! 6@A@! UdIwFCVZI! #'%3$(.*4! )/*! S'8$4)Q(%1,#'-./#0! a_;39($%! 7#'! E$)*%'3)(#$b! ($!

V8.)'(3:!6B!03')(<(03$).! 7'#=!AT!4(77*'*$)! <#8$)'(*.!3))*$4*4! )/(.!&#'-./#0!3$4!=34*!&#$4*'78;!

*D0*'(*$<*.!&()/!.#$%!&'()($%c!;*3'$($%!35#8)!.#$%!&'()($%!3$4!=8.(<!3$4!348;)!*48<3)(#$:!

E$!6@AA!3$#)/*'!&#'-./#0!&3.!#'%3$(.*4!+!)/*!aV<#8.)(<!")'($%.!,#'-./#0b!3$4!3%3($!=#'*!)/3$!

6@!03')(<(03$).!=34*!%'*3)!*D0*'(*$<*.!&()/!;*3'$($%!7'#=!*3</!#)/*':!

^/*! <#$<*0)! ($! 5#)/! &#'-./#0.! &3.! )/*! .3=*K! V;;! 03')(<(03$).! 3'*! ;*3'$*'.c! 58)! )/*9! 3'*! 3;.#!

)*3</*'.! 3$4! )/*9! /3Q*! <#=0*)*$<*.:! ^/*9! ./#8;4! 0'*03'*! 3! ;*..#$! 3$4! )'9! )#! )*3</! )/*('!

<#=0*)*$<*.! )#! )/*! #)/*'! 03')(<(03$).:! E$! 5#)/! &#'-./#0.! =#'*! )/3$! AP! &#'-./#0.! &*'*! /*;4!

&()/($!#$*!&**-:!

E$! )/*! 6$4! &#'-./#0! &*! ;*3'$)! 3$#)/*'! ;*..#$! )/3)! ($7;8*$<*4! #8'! ;#<3;! a_;39($%! ?! E$)*%'3)(#$b!

&#'-./#0K! (=0'#Q(.($%! 3$4! W3==($%! +! ()u.! ;(-*! 0;39($%! 3$4! )3;-($%! )#%*)/*'c! 58)! &()/! )/*!

($.)'8=*$).:! E$! )/*!aV<#8.)(<! ")'($%.!,#'-./#0b! )/*! 03')(<(03$).! .)3')*4! ($! )/*!=#'$($%! 3$4! )/*!

=8.(<!4(4$n)!.)#0!)(;;!?!#!<;#<-!($!)/*!=#'$($%:!

!

23Q($%!5**$!4#&$!)/*!78$4*4!'#8)*c!UdIwFCVZI!4*<(4*4!)/3)!()!&3.!$#)!$*<*..3'9!)#!5*!78$4*4!

7'#=! C8'#0*! ($! #'4*'! )#! =3-*! )/(.! 0#.()(Q*! *D0*'(*$<*! &#'-:! "#! &*! /3Q*! 5**$! /#;4($%! ;#<3;!

=**)($%.!3$4!&#'-./#0.!.($<*!6@A6:!,*!<3;;*4!)/*=K!!"#$%&'(O(,&&=3+794(E(!"#$%&'(O(/%+*"gJ(

(

3J(8N>.+%.&9.=Y(]%)).+.&-(I7"-7+.=(

,*!3;.#!&3$)*4!)#!=(D!=8.(<(3$.>.#$%&'()*'.!7'#=!4(77*'*$)!<8;)8'*.:!E7!9#8!)3-*!3!4**0*'!;##-!($)#!

*Q*'9!<()9!9#8!7($4!3!;#)!#7!4(77*'*$)!$3)(#$3;()(*.K!V8.)'(3$.!+!7'#=!4(77*'*$)!3'*3.c!S*'=3$.c!^8'-(./!

0*#0;*c!";#Q*$(3$.c!J'#3)(3$.c!S'**-.c!U'*$</!3$4!"03$(./!0*#0;*:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

PA!

N8)!&*!7#8$4!#8)!)/3)!()!&3.!/3'4*'!)/*$!&*!)/#8%/!)#!5'($%!a($)*'*.)*4b!.#$%&'()*'.>!=8.(<(3$.!

)#%*)/*':!CQ*'95#49!&3.!58.9!3$4!$#5#49!'*3;;9!/34!)(=*:!^/*9!/34!)#!&#'-!#'!.0*$4!)(=*!&()/!

)/*('!73=(;9:!^/*9!4(4!$#)!/3Q*!)(=*!7#'!#8'!(4*3.:!G)/*'.!#$;9!&3$)*4!)#!a0;39b!&()/!8.!(7!)/*9!&*'*!

03(4:!

(

9J(I*&-.&-(*)(-0.(<*+4=0*>=(

"#!&*!.)3')*4!&()/!3!Q*'9!.=3;;!%'#80!3$4!)'(*4!)#!-**0!80!)/*!6!(4*3.!&*!%#)!7'#=!#8'!C8'#0*3$!

&#'-./#0.K!

1!E$Q()*!03')(<(03$).!)#!)*3</!8.!&/3)!)/*9!<3$!4#!5*.)!

1!E=0'#Q(.3)(#$!3$4!W3==($%!

^/(.!&#'-*4!Q*'9!&*;;!3$4!($!)/*!;3.)!6!&#'-./#0.!&*!($)*%'3)*4!<#1&'()($%!3.!3!)##;!)#!5'($%!0*#0;*!

)#%*)/*'!3$4!;(.)*$!3$4!)#!;*3'$!7'#=!*3</!#)/*':!

!

2J(P+.[7.&9$Y("#!.($<*!6@A6!&*!/34!P!&#'-./#0.:!,*!)/*$!4*<(4*4!)/3)!3!&#'-./#0!439!*Q*'9!?!

=#$)/.!&#8;4!5*!*$#8%/:!L#'*!4(4!$#)!.**=!)#!5*!0#..(5;*:!

!

.J(A*9#-%*&Y(,*!3'*!/3009!)/3)!&*!/3Q*!3!%'*3)!;#<3)(#$!$#&:!E)!(.!3!'##=!($!3!/#8.*!($!)/*!<#8$)'91

.(4*!&/*'*!&*!<3$!4#!&/3)!&*!;(-*:!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

P6!

VJ(<+%-%&'(;*&'=(

(

^/*!08'0#.*!#7!)/(.!/3$45##-!(.!$#)!)#!)*3</!9#8!/#&!)#!&'()*!.#$%.:!^/*'*!3'*!=3$9!7($*!5##-.c!

E$)*'$*)!.()*.!3$4!f#8^85*!O(4*#.c!&/(</!9#8!<3$!*D0;#'*:!2#&*Q*'c!()!&3.!(=0#')3$)!)#!($<;84*!3!

.*;*<)(#$! #7! 0(*<*.! 7'#=! .#=*! #7! #8'!=*=5*'.c!&/(</! ./#&.! )/*('! 300'#3</! )#! .#$%&'()($%! 3$4!

.#=*!3.0*<).!.#$%&'()($%:!

(

VJDJ(6.)".9-%*&!I0+%=-*)(P%&4(GL7=-+%#H(

E!&'#)*!'#8$4!35#8)!?@!.#$%.!($!=9!;(7*:!E!)/($-!)/3)!)/*!439!#$!&/(</!E!&'()*>7($(./!3!.#$%!(.!3!Q*'9!

%##4!439:!E!)/($-!;(-*!*Q*'9!&'()*'!E!8.*!4(77*'*$)!300'#3</*.:!E!&(;;!)'9!)#!4*.<'(5*!)/*=:!

#J(,&-7%-%:.(;*&'(<+%-%&'Y(V)!)/*!5*%($$($%c!E!0;39*4!)/*!%8()3'!3$4!3$!(4*3!<3=*!($)#!=9!/*34K!)/*!

=*;#49!3$4!)/*!&#'4.:!E!&'#)*!()!4#&$!3$4!&#'-*4!#$!():!"#!Q*'9!X8(<-;9!E!/34!3!Q*'.*!3$4!3!</#'8.:!

U#'!E!;#$%!)(=*c!E!&3.!<#$Q($<*4!)/3)!3!%##4!.#$%!./#8;4!$#)!/3Q*!=#'*!)/3$!?!</#'4.!3$4!.#!E!-*0)!

)/*!.)'8<)8'*![$#!($)'#c!$#!5'(4%*c!$#!0'#%'*..(#$\c!)/*!=*;#49!3$4!)/*!</#'4.!Q*'9!.(=0;*:!

3J(!.+=*&#"(I*>$%&'Y( E!&#8;4!<3;;!#$*!#7!=9!73Q#8'()*!)*</$(X8*.!a<;#849!<#09($%b:! E!/*3'!3!.#$%!

3$4!E!;(-*!():!I#&!E!;*)!=9.*;7!5*!($.0('*4!59!)/(.!.#$%!3$4!0;39!()!a=9!&39b:!^/*!<#=5($3)(#$!#7!)/*!

$*&!*;*=*$)!=(D*4!&()/!=9!-$#&;*4%*>)*</$(<3;!.-(;;.!5'($%.! 7#')/!3!$*&!.#$%:!O*'9!#7)*$! E!&3.!

;8<-9!3$4!)/*!;9'(<.!<3=*!3)!)/*!.3=*!)(=*:!

9J(A$+%9=(3.)*+.(K7=%9Y(V7)*'!.#=*!.#$%&'()*'!&#'-./#0.!E!&3.!)38%/)!)/3)!)/*!;9'(<.!/3Q*!)#!5*!3)!

)/*! 5*%($$($%:! "#! E! .3)! 4#&$! 3$4! &'#)*! 4(77*'*$)! ;9'(<.:! U8$$9! *$#8%/! ()! '*3;;9! &#'-*4! 7#'! =*:!

,/*$!E!/34!)/*!;9'(<.c!()!(.!Q*'9!73.)>.(=0;*!)#!7($4!3!=*;#49:!E$!3!&39!9#8!/*3'!():::!

2J(A*:.(#&2(]%=#>>*%&-Q.&-Y(")'#$%!7**;($%.!0'#Q(4*!3!Q*'9!%##4!(=08;.*!)#!&'()*!.#$%.:!"#!E!&'#)*!

3!<#80;*!#7!;#Q*!.#$%.!($!)/*!7('.)!6!&**-.!E!&3.!($!;#Q*!&()/!3!$*&!03')$*':!

,/*$!)/*!'*;3)(#$./(0!&3.!#Q*'c!E!/34!3%3($!.)'#$%!7**;($%.:!E!8.*4!)/*=!)#!&'()*!4(77*'*$)!aS##4!

59*b!"#$%.:(

.J(;*&'5+%-.+=(X"*94Y(E$!)/*!;3.)!6!9*3'.!E!4(4$e)!&'()*!3!;#)!#7!.#$%.:!^/*!'*3.#$.!4(77*'K!

3\!,()/!=9!B@1?@! .#$%.! E! <#Q*'*4!3! ;#)!#7! )#0(<.! [;#Q*c! 7'(*$4./(0c!5*($%!3!=3$%*'c!4*3)/c! .)'#$%!

7**;($%.c\!3$4!()!(.!$#)!.#!*3.9!)#!7($4!3!$*&!)#0(<>!)#!5'($%!3!$*&!#0($(#$!

5\!E!&'()*!($!S*'=3$!3$4!E!&3$)!)#!*D0'*..!=9.*;7:!N8)!E!4#$e)!&3$)!)#!08)!=9!7($%*'!($!)/*!3('!3$4!

)*;;!#)/*'!0*#0;*!&/3)!)#!4#:!E!3=!3;.#!$#)!)/*!W#-*!=3-*'!3$4!.#!#$:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

PB!

<\!E!)'(*4!)#!%*)!($!<#$)3<)!&()/!&'()*'.!3$4!=#)(Q3)*!)/*=!)#!&'()*!;9'(<.!7#'!=*:!N8)!E!/34!)#!7($4!

#8)!)/3)!)/*.*!<#1#0*'3)(#$.!3'*!3;.#!$#)!.#!*3.9:!"($<*!$#&!$#!<##0*'3)(#$!&3.!'*3;;9!.8<<*..78;:!

)J(;*>0%=-%9#-.2(;*&'(5+%-%&'Y(L9!<#Q*'!53$4!<#;;*3%8*.!<3;;*4!=9!7('.)!.#$%.!a.#$%.!7#'!</(;4'*$bc!

5*<38.*!)/*9!&*'*!.#!.(=0;*!3$4!0'*4(<)35;*:!"#!E!;*3'$*4!)#!8$4*'.)3$4!3$4!)#!0;39![3$4!)/(.!(.!3!

5(%!4(77*'*$<*\!3!;#)!#7!)/*#'*)(<3;!.)877K!

3\!L#4*.K!E#$(3$c!4#'(3$c!=(D#;94(3$c!:::!

5\!H3kk!+!J/#'4.!3$4!W3kk!<34*$<*.!

<\!"0*<(3;!J/#'4.!+!^*$.(#$.!

4\!`(77*'*$)!-($4.!#7!'/9)/=.!

I#&!E!&'()*!.#=*!.#$%.!&()/!.#=*!H3kk1</#'4c!#'!)/*!5'(4%*!(.!($!3!4(77*'*$)!-*9:!^#439!)/*!0'#5;*=!

(.!)/3)!E!<3$!*3.(;9!<'*3)*!3!=*;#49c!58)!E!.)(;;!/3Q*!$#!;9'(<.:::!

!

VJBJ!6.)".9-%*&!c#-0#+%&#(?#2.(G?.+Q#&$H(

E! .*'(#8.;9! .)3')*4!&'()($%! ($!=9!=#)/*'! )#$%8*!3)!L8.(<!d$(Q*'.()9! ($!6@@6!3$4! .##$!4(.<#Q*'*4!

)/3)!()!&3.!Q*'9!)/'(;;($%!)#!3;.#!<#=0#.*!($!C$%;(./!*.0*<(3;;9!5*($%!35;*!)#!<#==8$(<3)*!)/'#8%/!

=8.(<!&/*$!0*'7#'=($%!35#3'4:!

V)!3!<#1&'()($%!&#'-./#0!#$!)/*!`3$(./!E.;3$4!#7!"3=.yc!E!7('.)!<3=*!($!<#$)3<)!&()/!<#1&'()($%!3$4!

(==*4(3)*;9!%#)!/##-*4!#$!():!E!3))*$4*4!.*Q*'3;!&#'-./#0.!#Q*'!)/*!9*3'.!3$4!%#)!)#!-$#&!=3$9!

5'(;;(3$)!3$4!($.0('($%!.#$%&'()*'.:!

E!$#'=3;;9!4#!$#)!($)*$4!)#!&'()*!3!.#$%!58)!;*)!()!<#=*!)#!=*!=#.);9!($!3!=#=*$)!&/*$!E!3=!$#)!

*D0*<)($%!():!E!=(%/)!5*!0;39($%!3'#8$4!#$!)/*!%8()3'!#'!0(3$#:!

V.!.##$!3.!E!/*3'!3!<;*3'!=*;#49!;($*!E!&(;;!7#;;#&!()!3$4!)'9!)#!7($4!.#=*!</#'4.!)#!():!

,#'4.! $#'=3;;9!&(;;! <#=*! ($)8()(Q*;9! 7('.)! .($%($%! ($! z%(55*'(./a! 8$)(;! E! 7**;! 3! <;*3'! ($)*$)(#$! 3$4!

<#$)*$)!#7!)/*!.#$%:!

E!/3Q*!4*Q*;#0*4!3!/35()!#7!&'()($%!3!=#'$($%!4(3'9!3$4!.#=*)(=*.! E!5;8')!#8)!.#=*! ;());*!0#*=!E!

&3$)!)#!08)!=8.(<!)#:!E!7($4!<#1&'()($%!(.!Q*'9!</3;;*$%($%!7#'!=*!5*<38.*!()!08./*.!=*!)#!=9!;(=().!

&/*$!E!/3Q*!)#!/3Q*!3!.#$%!7($(./*4!&()/($!3!7(D*4!0*'(#4!#7!)(=*:!

E)!(.!'*3;;9!/*;078;!/3Q*!.#=*!%8(4*;($*.!.8</!3.!3!%(Q*$!)();*!#'!.#=*!)#0(<!)#!&'()*!35#8):!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

P?!

VJFJ(6.)".9-%*&!/*&$(X#+2*&(G,+."#&2H(

E!/3Q*!5**$!&'()($%!.#$%.!7#'!#Q*'!?@!9*3'.!3$4!E!)(<-!=3$9!#7!)/*!5#D*.!($!)/*!73'!3.!E!&'()*!5#)/!

;9'(<.!3$4!=*;#4(*.:!E!&'()*!03'#4(*.!&/(</!($Q#;Q*.!=*3$!08))($%!$*&!&#'4.!)#!*D(.)($%!.#$%.!3$4!E!

3;.#!=8.(<!)#!0#08;3'!0#*=.v!

!

E!300'#3</!.#$%&'()($%! ($!3!$8=5*'!#7!4(77*'*$)!&39.:!,/*$!E!3=!;##-($%!7#'!3!=*;#49c! E! )*$4!)#!

0;39!3'#8$4!&()/!</#'4!0'#%'*..(#$.!#$!)/*!%8()3'!8$)(;!.8</!)(=*!3.!3!=*;#49!.8%%*.).!().*;7!)/3)!E!

7**;!&(;;!5*!.8()35;*!7#'!)/*!03')(<8;3'!)#0(<!)/3)!E!3=!&'()($%!35#8):!"#=*)(=*.!E!%*)!3$!(4*3!7#'!3!

Q*'.*!7('.)!3$4!.#=*)(=*.!E!%*)!3$!(4*3!7#'!3!</#'8.!)/*'*! (.!$#!7(D*4!03))*'$:!"#=*)(=*.!E!%*)!3$!

(4*3!7#'!3!/##-!3$4!)/*!&#'4.!3$4!)/*!=8.(<!3''(Q*!)#%*)/*':!!

S*$*'3;;9!.0*3-($%c!&/*$!E!3=!&'()($%!;9'(<.!E!7($4!)/3)!7('.)!<#80;*.!#7!Q*'.*.!3'*!4(77(<8;)!)#!&'()*!

3$4!)/*!</#'8.!<3$!3;.#!5*!4(77(<8;):!2#&*Q*'c!E!7($4!(7!E!%#!3&39!7'#=!)/*!.#$%!3$4!<#=*!53<-!)#!()!

;3)*'!)/3)!=9!8$<#$.<(#8.!=($4!/3.!5**$!&#'-($%!#$!()!($!)/*!=*3$)(=*!3$4!()!&(;;!/3Q*!<#=*!80!

&()/! 3;;! .#').! #7! $*&! (4*3.! 7#'!=*! )#!&#'-!&()/:! "#!=8</! .#! )/3)! )/*! ;3.)! Q*'.*! (.! 0'#535;9! )/*!

*3.(*.)!3$4!()!3;=#.)!&'()*.!().*;7:!

!E!)/*$!%#!)#!3!0'#<*..!#7!*4()($%!3$4!)/(.!<3$!)3-*!0;3<*!#Q*'!3!$8=5*'!#7!&**-.:!^&*3-($%!)/($%.!

/*'*!3$4!)/*'*!3'*!<#=($%!80!&()/!5*))*'!'/9=($%!.</*=*.!)/3$!E!.)3')*4!#8)!&()/:!E!3;.#!7($4!)/3)!

&/*$! E!.)3')!#8)!&'()($%!3!.#$%!)/3)!)/*!=*;#49!3$4!)/*!'/9)/=!3'*!Q*'9!./3-9!3$4!$#)!)/3)!&*;;!

4*7($*4:!N8)!3.!'*.8;)!#7!0;39($%!3'#8$4!&()/!)/*!.#$%!#Q*'!3!$8=5*'!#7!&**-.!()!=3)8'*.!(.!X8()*!

.(%$(7(<3$);9:!!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

PP!

VJOJ(!=$90*"*'%9#"(]%Q.&=%*&=(*)(;*&'5+%-%&'((

G$!)/*!73<*!#7! ()c!)/*!&'()($%!#7!.#$%.!<3$!300*3'!)#!5*!3!Q*'9!.(=0;*!3<)(Q()9!8$4*'$*3)/!)/*!;(-*!

<3$!5*!%#($%!#$!)/3)!&*!3'*!$#)!*Q*$!3&3'*!#7:!

N*<38.*!&*!3'*!/8=3$!5*($%.!&*!5'($%!=3$9!#7!)/*!4(77*'*$)!4(=*$.(#$.!#7!#8'!;(Q*.!)#!&/3)*Q*'!

3<)(Q()(*.!5*<#=*!($Q#;Q*4!($!3$4!)/(.!($<;84*.!"#$%&'()($%:!G$*!&39!#7!<;3..(79($%!)/*.*!4(=*$.(#$.!

3'*!5#49!=($4!/*3')!.0('()!3$4!./34#&:!E$!)/(.!3')(<;*!E!&3$)!)#!*D0;#'*!)/*.*!4(=*$.(#$.!3$4!/#&!

)/*9!0*')3($!)#!)/*!3<)(Q()9!#7!.#$%&'()($%:!

!

E)!(.!)/*!5#49!%(Q*.!8.!#8'!'/9)/=.!3$4!#8'!08;.*.!3$4!()!(.!)/*!=#.)!$3)8'3;!)/($%!($!)/*!&#';4!7#'!8.!

)#! )8$*! ($)#! )/*! '/9)/=!#7! #8'! /*3').! 3$4! )/*! 08;.3)(#$.! #7! 5;##4! <#8'.($%! )/'#8%/! #8'! 5#4(*.:!

^/*.*! '/9)/=.! ($! )(=*!&*'*! )'3$.7*''*4! )#! 4'8=.! 3$4! #)/*'! 0*'<8..(#$! ($.)'8=*$).! 3$4! ($! )8'$!

<3=*!)#!5*!'*7;*<)*4!($!#8'!.#$%&'()($%:!

!

,*!'*;9!#$!#8'!=($4!)#!%(Q*!.)'8<)8'*!)#!#8'!.#$%.:!^#!%(Q*!=*3$($%!)#!&/3)!&*!&3$)!)#!*D0'*..:!^#!

7($4!)/*!($)'(<3)*!#'!)/*!.(=0;*!'/9=($%!.</*=*.!)/3)!%#*.!)#!=3-*!80!3!%##4!.#$%:!,*!3;.#!'*;9!#$!

=($4!)#!;*3'$!#8'!($.)'8=*$).!3$4!)#!'*)3($!3!'*.*'Q#('!#7!-$#&;*4%*c!&/(</!&*!&(;;!4'3&!#$!&/*$!

&*! 3'*! &'()($%:! G$! )/*! #)/*'! /3$4! &/*$! &*! &'()*! #$;9! &()/! #8'! =($4.! #8'! .#$%.! <3$! 5*! #$*!

4(=*$.(#$!3$4!<;*Q*'!3$4!=39!$#)!.8<<**4!($!)#8</!($!)/*!/*3').!#7!#)/*'.:!

,*!$**4! )#! 5'($%! #8'! /*3').! ($)#! 0;39! ($! #'4*'! )#! 3</(*Q*! )/(.:! E)! (.! )/*! /*3')! 4(=*$.(#$c!&/(</!

5'($%.! *=#)(#$! 3$4! *=03)/9! ($)#! #8'! .#$%.! 3$4! ($)#! #8'! .($%($%! #7! #8'! .#$%.:! "#! .#$%.!&'())*$!

7'#=!)/*!/*3')!3$4!0*'7#'=*4!7'#=!)/*!/*3')!3'*! ;(-*;9!)#!/3Q*!3!=#'*!0#&*'78;! (=03<)!8.!)/3$!

.#$%.!)/3)!/3Q*!5**$!#$;9!&'())*$!&()/!)/*!0#&*'!#7!)/*!=($4:!

d$4*'!)/*!/*34($%!#7!)/*!/*3')c!&*!3;.#!/3Q*!'*;3)(#$./(0.:!E)!(.!(=0#')3$)!)/3)!3!.#$%&'()*'!%*).!#$!

&*;;!&()/!/(.!#'!/*'! <#1!&'()*'.c!&()/!=8.(<(3$.!3$4! '*<#'4($%!*$%($**'.!&/#!=39!5*!&#'-($%!#$!

)/*('!.#$%.:!E)e.!$#)!3$!35.#;8)*!'8;*!58)!3!0*'.#$!%*).!#$!&*;;!&()/!#)/*'!0*#0;*!(.!;(-*;9!)#!5*!=#'*!

.8<<*..78;!.#$%&'()*'!)/3$!)/#.*!&/#!4#!$#):!

^/*!/(%/*.)!;*Q*;!#7!.#$%&'()($%!(.!3</(*Q*4!&/*$!&*!5*<#=*!($.0('*4c!&/*$!&*!<3$!)8$*!($)#!#8'!

.#8'<*c!&/(</!(.!3;.#!.#8'<*!#7!#8'!=8.(<:!L3$9!.#$%&'()*'.!&(;;!.39!)#!9#8!)/3)!)/*9!4#!$#)!-$#&!

&/*'*!)/*9!%*)!)/*('!(4*3.!<#=*!7'#=!3$4!)/(.!<3$!300;9!)#!5#)/!)/*!=*;#4(*.!3$4!)/*!;9'(<.:!^/*9!

3'*! $#)! 8$;(-*! #)/*'! 3')(.).c! 5*! )/*9! 03($)*'.c! 3<)#'.! &'()*'.! #'! 0#*).! ($! )/3)! '*.0*<):! S##4!

.#$%&'()*'e.!'*<#%$(.*!)/3)!.#=*)(=*.!)/*9!3'*! ($!)/*!7;#&!3$4! ()! (.!3.! (7! )/*9!3'*!5*($%!3.-*4!)#!

</3$$*;!)/*!=8.(<!)#!</3$$*;!)/*!.#$%:!^/(.!(.!3!0'(Q(;*%*4!0#.()(#$!)#!5*!($!3$4!(7!()!/300*$.!)#!9#8!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

PR!

)'*3.8'*!():!^/(.!(.!$#)!.#=*)/($%!)/3)!<3$!$*<*..3'(;9!5*!;*3'$*4!3;)/#8%/!()!(.!.#=*)/($%!)/3)!<3$!

5*! *$<#8'3%*4:! "#=*)(=*.! )/*! 0;39($%! #7!=8.(<! (.! .877(<(*$)! )#! 5'($%! 9#8! )#! 3$! 3;)*'*4! .)3)*! #7!

<#$.<(#8.$*..!&/*'*!<303<()(*.!#'!%(7).!)/3)!3'*!$#)!$#'=3;;9!3Q3(;35;*!)#!<#=*!($)#!0;39:!

^/*!7($3;!4(=*$.(#$c!&/(</!<3$!<'**0! ($)#!#8'!.#$%&'()($%c! (.!./34#&:!"/34#&!($!)/*!)/3)! E!8.*! ()!

/*'*c! (.! 3! 0.9</#;#%(<3;! )*'=! &/(</! '*;3)*.! )#! )/3)! 03')! #7! #8'! 0*'.#$3;()9! &/(</! &*! 4#! $#)!

3<-$#&;*4%*!3$4!&(./!)#!.800'*..!3$4!&/(</!<3$!)/*$!*D0'*..!().*;7!($!($300'#0'(3)*!&39.:!"#!7#'!

($.)3$<*c!3! .#$%&'()*'!=39!5*! '*0'*..($%!3$%*'!3$4!$#)!3<-$#&;*4%($%! )/3)! )/*'*! (.!3$%*'! ($!/(.!

=3-*180!=39! *$4! 80!&'()($%! 3$%'9! .#$%.:! ^/(.!=39! #'!=39! $#)! 5*! 3! %##4! )/($%:! N8)! 4#! $#)! 5*!

.8'0'(.*4!(7!)/*=*.!)#'$!80!($!9#8'!.#$%.!)/3)!9#8!&#8;4!$#'=3;;9!$#)!)/($-!35#8)!#'!344'*..:!

^/(.!(.!3!5'(*7!($)'#48<)(#$!)#!<*')3($!0.9</#;#%(<3;!3.0*<).!#7!.#$%&'()($%:!G8'!.#$%&'()($%!&(;;!5*!

=#'*!Q()3;!)/*!=#'*!4(=*$.(#$.!#7!#8'!0*'.#$3;()(*.!3'*!5'#8%/)!%!($)#!0;39:!!!

!

VJRJ(!*.-+$(#&2(;*&'5+%-%&'(

V! "#$%&'()($%!&#'-./#0! (.! %#($%! )#! 3))'3<)! 0#*).! 3.! 03')! #7! ().! ;(.)! #7! 0#..(5;*! 03')(<(03$).:! E)! (.!

$*<*..3'9! )#!/3Q*!3! .)'3)*%9! 7#'!4*3;($%!&()/! )/*=! ($! )/*! ($()(3;!0/3.*!#7! )/*('! ($Q#;Q*=*$):! ! U#'!

*D3=0;*!&/*$!03('($%! #77! ($4(Q(483;.! 7#'! 3! <#1&'()($%! *D*'<(.*!=3-*! .8'*! )/3)! )&#!0#*).! 3'*! $#)!

03('*4!)#%*)/*':!

^/*! )90(<3;!0'#7(;*! #7!3! .#$%&'()*'! (.! )/*! .($%*'1.#$%&'()*'!&()/!3!%8()3'!&/#!/3.! )/*!<303<()9! )#!

&'()*!/(.!#&$!=8.(<!3$4!<#=0#.*!/(.>/*'!#&$!;9'(<.!.#=*)(=*.!)/*!&#'4.!<#=($%!7('.)!.#=*)(=*.!

)/*!=8.(<!<#=($%!7('.)!3$4!.#=*)(=*.!5#)/!)#%*)/*':!N8)!)/*'*!3'*!3!$8=5*'!#7!Q3'(3)(#$.!#$!)/(.!

0'#7(;*:!L3$9!#7!)/*!<;3..(<!.#$%.!&*'*!&'())*$!59!<#=5($3)(#$.!#7!;9'(<(.).!3$4!=8.(<(3$.:!L3$9!#7!

)/*!%'*3)!=8.(<3;.!&*'*!&'())*$!59!)/*.*!<#=5($3)(#$.:!

,/3)! (.! )/*! '*;3)(#$./(0!5*)&**$!0#*)'9!3$4! .#$%&'()($%M!G$! )/*! 73<*!#7! ()! )/*'*!300*3'.! )#!5*!

.(%$(7(<3$)!.(=(;3'()(*.:!N8)!)/*'*!3'*!3!;#)!#7!4(77*'*$<*.!3.!&*;;:!L3$9!%'*3)!.#$%.!<#8;4!4#85;*!3.!

%'*3)!0#*=.!3$4!=3$9!%'*3)!0#*=.!3'*!3;.#!<3035;*!#7!5*($%!08)!.8<<*..78;;9!)#!=8.(<:!,/(;*!=#.)!

%'*3)!0#*=.!3;.#!;##-!%'*3)!#$!)/*!03%*!)/*!.3=*!<3$$#)!5*!.3(4!7#'!=3$9!0#08;3'!.#$%.!3$4!()!(.!

#$;9!&/*$!()!(.!<#=5($*4!&()/!=8.(<c!&/(</!.800#').!3$4!*=5'3<*.!()c!)/3)!()!5*<#=*.!3!%'*3)!.#$%:!

L#.)!.#$%.!#0*'3)*4!)#!3!0'*4*7($*4!.)'8<)8'*!&/*'*3.!)/*'*! (.!3!/8%*!Q3'(3)(#$! ($!)/*!4(77*'*$)!

)90*.! #7! 0#*)'9! )/3)! 3'*! &'())*$! )#439:! ! ,/(;*! )/*'*! 3'*! =3$9! 0#*=.! )/3)! #0*'3)*! &()/($!

0'*4*7($*4!.)'8<)8'*.c!)/*'*!3'*!#)/*'!0#*=.!)/3)!<#8;4!5*!)*'=*4!.)'*3=!#7!<#$.<(#8.$*..c!&/*'*!

7'**4#=!#7!*D0'*..(#$!(.!)/*!0'(=3'9!<#$.(4*'3)(#$!3$4!;());*!3))*$)(#$!(.!%(Q*$!)#!3!7#'=3;!.)'8<)8'*!

#'!)#!'/9=($%:!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

PT!

E7!0#*).!3'*!)#!=3-*!)/*!)'3$.()(#$!3$4!!!5*<#=*!3!.8<<*..78;!.#$%&'()*'!)/*$!/*>./*!=8.)!5*<#=*!

73=(;(3'!&()/! )/*! 4(77*'*$)! )90*.!#7! .)'8<)8'*.! )/3)!3'*!8.*4! ($!0#08;3'! .#$%.:!^/*9! )/*$!$**4! )#!

<'37)!)/*('!0#*=.!)#!=3)</!)/*.*!.)'8<)8'*.:!

^/(.! 0'#<*..! <3$! 5*! .0**4*4!80! 59!&#'-($%!&()/! *D0*'(*$<*4! .#$%&'()*'.! #$! <#1&'()*.:! V$#)/*'!

300'#3</!(.!)#!3.-!3$!*.)35;(./*4!.#$%&'()*'!)#!08)!=8.(<!)#!0'*1*D(.)($%!0#*=:!

(

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

PY!

WJ(P7&2%&'(

(

S'#80.!)/3)!3'*!#'%3$(.($%!.#$%&'()($%!&#'-./#0.!./#8;4!</*<-!#8)!&/3)!*D)*$)!)/*9!<3$!3Q3(;!#7!

78$4($%:! ^/(.! &(;;! Q3'9! 7'#=! <#8$)'9! )#! <#8$)'9:! ^/*! =*=5*'.! #7! _;39($%! 7#'! E$)*%'3)(#$! &*'*!

7#')8$3)*!)#!'*<*(Q*!78$4($%!7'#=!)/*!C8'#0*3$!F(7*;#$%!F*3'$($%!S'8$4)Q(%!0'#%'3==*:!f#8!=39!

3;.#! 5*! 35;*! )#! X83;(79! 7#'! 78$4($%! 7'#=!3! .(.)*'! 0'#%'3==*c!&/(</! #0*'3)*.! 8$4*'! )/*! $3=*!#7!

F*#$3'4#!43!O($<(:!

!!

f#8!./#8;4!3;.#!</*<-!#8)!9#8'!;#<3;!<#8$)9!<#8$<(;!#'!9#8'!$3)(#$3;!3').!#'%3$(.3)(#$:!V!;());*!5()!#7!

'*.*3'</! ($! )/(.! 3'*3! <3$! 039! .(%$(7(<3$)! 4(Q(4*$4.:!,/*'*! 78$4($%! (.! 3Q3(;35;*c! 9#8! <3$! 7($4! )/3)!

)/*'*!3'*!X8()*!4*)3(;*4!300;(<3)(#$!7#'=.!)#!5*!<#=0;*)*4!3$4!)/*$!X8()*!<#=0'*/*$.(Q*!'*0#').!

./#&($%!/#&!)/*!78$4.!&*'*!4(.0*'.*4:!^/(.!&(;;!'*X8('*!3!<*')3($!3=#8$)!#7!34=($(.)'3)(Q*!($08)c!

58)!9#8!./#8;4!$#)!3;;#&!9#8'.*;7!)#!5*!08)!#77!59!)/(.c!3.!()!<3$!5*!Q*'9!&#')/&/(;*:!

!

"#$%&'()*'!+!,#'-./#0!1!23$45##-!

Ph!

DCJ(I*&9"7=%*&=(

!

E7!9#8!/3Q*!'*34!)/(.!23$45##-!3.! 73'!3.!/*'*c!&*!5*;(*Q*!)/3)!9#8!&(;;!/3Q*! ;*3'$*4!3!%'*3)!4*3;!

35#8)! '8$$($%! .#$%&'()($%! &#'-./#0.:! ! f#8! &(;;! $#)! /3Q*! ;*3'$*4! *Q*'9)/($%! 3.! )/*'*! (.! 3;&39.!

.#=*)/($%!$*&!)#!;*3'$:!!G8'!/#0*!(.!)/3)!9#8!&(;;!5*$*7()!7'#=!)/*!<8=8;3)(Q*!*D0*'(*$<*!&*!/3Q*!

#5)3($*4!#Q*'!)/*!;3.)!)&#!9*3'.!3.!&*!78;7(;;*4!)/*!'*X8('*=*$).!#7!#8'!F(7*;#$%!F*3'$($%!S'8$4)Q(%!

_'#W*<):!,*!/#0*!)/3)!/3Q*!3!5*))*'! (4*3!/#&!)#!.)'8<)8'*!9#8'!&#'-./#0.!3$4!.#!3Q#(4!.#=*!#7!

)/*! =(.)3-*.! &*! /3Q*! =34*! ($! )/*! 03.):! ,*! 3;.#! /#0*! )/3)! 9#8! /3Q*! 3! 5*))*'! (4*3! #7! &/3)!

#'%3$(.3)(#$3;!.)'8<)8'*!&(;;!&#'-!7#'!9#8!3$4!/#&!#7)*$!9#8!./#8;4!'8$!9#8'!&#'-./#0.:!!,*!/#0*!

&*!/3Q*!5'#8%/)!/#=*!)#!9#8!)/*!&*3;)/!#7!4(77*'*$)!3<)(Q()(*.!9#8!<3$!($<;84*!($!3!&#'-./#0!3$4!

)/*!(=0#)*$<*!#7!0*'7#'=3$<*!#00#')8$()(*.:!!V)!)/*!*$4!#7!)/*!439!.#$%&'()($%!&#'-./#0.!3'*!;(-*!

.#$%.:!!^/*'*!3'*!3!%'*3)!=3$9!4(77*'*$)!%*$'*.!3'#8$4!3$4!9#8!/3Q*!)#!4*.(%$!#$*!)/3)!=**).!9#8'!

$**4.:!^/(.!(.!3!&#')/9!<38.*l!.#$%.!3'*!$#)!%#($%!)#!%#!#8)!#7!73./(#$!3$9)(=*!.##$:!,*!&(./!9#8!

&*;;!($!9#8'!*$4*3Q#8'.:!

!

!

!