You are on page 1of 14



   !"#$%&%' ($)*+,.-0/11

23547678.8'9$4:9(6;9

<>=?A@B(CED>F7@?HGI=JLKMCNOF7@?HGI=F.PRQ;O?AB(=S@?HTUOVF.=C 3 NPH@NWF.P0XVWYIF.=?HZ(F7@?AGI=
F.=C
2 =S@BW=F7@?HGI=F.P0[\@GI]^?AO_KM=BWY.`a[>Y.B(=O`
b5c Kd[Ve\fg<gQhQ;[>i[Vj 2 D b KMkLDV[ b 2 XgDV[>i 3 KMD b kLKmlXgk b5c K\XgkLK b 23 [>ion 5
c p Q 23 Q

qVrarastruqwv0xzy({}|~xzqzvLstrEyvzrq~xzy qVt|ahxz{
v0xsz|v0xzyEyL5qgrqghxzy(|ayovystov

K5X[L`.G:GIPAF
;7t5*>.;t. z7a>II.'
SI7' R7LU *V_:
7U
'Vw7:_U7H7U. 7U.\ 7 '7 70
  7I

|a$.
b ?AJF7BW?AJOGI=OBW=B(Cz>?H@ @ BBWWG.WB(J@?A]tF7@B(J?A=.GIPH.B(C?A=z@ B\JGIPAN'@?HGI=zG.FgC?AJOWB@BF7WG(:
L
?A]^F7@?HGI=G.F^NF.=@N]J@G;O F.J@?AO_C?HBWB(=@?AF.P?A=OPANJ?HGI=_Q;f 2 UXgN'W5]tF.?=WB(JNPH@J\WB(PH`^GI=OBW@F.?A=
WG.BW@?HB(JLG.@ BtF(.BWF7Y.B(C]G;CNPANJ5G.OGI=@?A=:N?H@`G.W_]zNPA@?HF.PN'B(CJB(JN?PA?A='B(F7WV"G.W]tJgF.JJG;O?AF7@B(C
L?A@ _Q;f 2 IoBVG.@F.?A='B(CWB(JNPA@JMOGI=OBW=?A='Y_@ B>B(J@?A]tF7@B(JG.@ B c F.NJC'G.WC?J@F.=OB5B@BB(=a@ B
JB@\G.RJGIPAN'@?HGI=JG.0@ Bw_Q'f 2 F.=C@ BVJB@\G.RJGIPAN'@?HGI=JG.R?H@J\C?JOWB@BgF7WG$;?A]^F7@?HGI= b5 ?AJMB:@B(=CJ
@ BwWB(JNPH@J5G.fVGI=@O BhF.=ClF7W ?M
OGI=OBW=?='YtOPAF.JJ?OF.P0C?BWB(=@?AF.P0?A=OPNJ?HGI=J@Gt@ B_WB(JB(=@
='GI=OGI]t]zN@F7@?H.Bw:NF.=S@N]JB@@?A='Y?A=S.GIPA:?A=Y?A=OPANJ?HGI=J?=EOBW@F.?A=PHG;OF.PAPH`aOGI=S.BJF.OB.

j 2 kL[gjh[>k>K b k 2 KQ b K
Q:B@B(]zBW 678.8'9

5 * R$ *7'5H5 g5H 


 *

 yxwrastExzyst
2 =OGI=@?A=NF7@?HGI=oG.\GIN'W_G.W?A=:7OGI=OBW=?A=Y=N]tBW?AOF.PWG;OB(CN'WB(Jg"G.WwQ;f 2 0@ ?AJgF7BW_?AJ
OGI=OBW='B(CL?H@ @ BC'B.B(PAG.]B(=@0F.=F.PH`;J?AJLF.=CBWWG.WVB(J@?A]tF7@B(Jg?A=.GIPH.B(C?A=FGI='B\J@BC?AJOWB@B
JO B(]B_G.WLJGIPA:?A=Y:NF.=@N]J@G;O F.J@?AO_C?HBWB(=@?AF.P?A=OPANJ?HGI=
 


 8S&%

                       


       .F PA]GIJ@LF.PP! 8 #5
" $
')(

9 ( 9$

?=d 9 9$ F7WB^B(PHB(]B(=@JzG.-,/.021#3( 8 #"5/467 5 98;:< F.=C@ Ba?A=S@BY.WF7@G.WJ


b5 B^OGB+*O?HB(=S@J
 
     8 #"5= 7 5 F7WBg@ BgYIF.N'Y.B.UF.==? ?PAF7@?HGI=tF.=COWB(F7@?AGI=WG;OB(JJB(J b5 BgPAG:OF.PAPA`tOGI=S.B
JUF.OB>7 5 ?AJ@ BOGI]tPHB@?HGI=G.V@ BPA?A='B(F7WJUF.OB?,  A@ BDC @
FEGCIHA, J. A@ K   ?A=@ B c F.NJC'G.W
@G.GIPHG.Y.`Y.B(='BWF7@B(C`a@ B_F.]t?APA`^G.JB(]t?A='G.W]tJLNMPOQMPRS %UTWVX YO[ZF\ T O 7 5 X YZ @ BDC @
^] (
[ JGIPAN'@?HGI=   G.> 9 9$ ?AJVFCB(=JB(PH`C'BTU='B(ChP?A='B(F7WVG.BWF7@G.W_PH`:?='Y^?A= _ 7 5 9`ba 3 JBB:c'd:fe:
98 RG.WLC'B@F.?PAJ
l'G.WEF7WU?H@WF7W` X YZ @ BgC @
@ BhB(N?HF.PAB(=S@"G.W]
OPAF.JJ?AOF.P?A=OPNJ?HGI=aYI?H.B(=E:`


  Zi\
  VhX

G.^ 9 9$ ?AJt@ BhTWJ@G.WC'BWa?A=?H@?AF.P\7F.PAN'B='GI=;


j     X YZ

 8S;% k' F.PA]GIJ@5F.PP^ 8 #"5$

9 ( 6I

BWB X YZ = j     X YZ ?AJgF]NPH@?H7F.PAN'B(ChJB(J:N?APA?A=B(F7WLG.W] IG =k@ BgC @


L?H@ 7F.PAN'B(Jg?A=h@ B
TB(PCG.OGI]UPHB=:N]zBWJ b5 B~B;PA?O?H@G.W]G.@ B_]^F7 j  YO X YZ ?AJ C'B(JOW?HB(CEF.J GIPAPHG$>J+
l'G.W YO  @ K  4 7 5 X YZ @ BgC @
J NO @ F7@ XU%ml ConSqp
p; Ys ,ut 021#3 A@ K  'C BTU='B
Jwv
jx)y  8 #"L4>7 5 = 6{| z
:`

Z %

 Crns l  @ B

jx)y  YO ;%~}x)y   


 YO fy      YO  x   Y   YO   YO

BWB
}x)y  Q%V p P  s \ J y  %V  Ys \ J x  Q%V p # \ J (
b5 ?AJ\PHB(F.CJ @Gt@ Bw]zNPH@?HN=O@?HGI= j  8 #"54 7 5 = 6 <#<9 f C'B T=B(C`
j  YO X YZ  %VX jx)y  YO ZF\ % L VX  YO Zi\ YO - ?jx)y  YO ] (
6

9 (

2 = F7@"GIPPHG$LJ(IB>B(]PHG
`@ B5F.J?O N=O@?HGI=tJUF.OB(JS@ BVJB@M@ BG.WB@?AO G.BWF7@?HGI=JMF.=C^@ B c F.NJ*
C'G.W]B@W?AO~F.J5?A=:['d 98
b5 B_PAF.=EG.WV@ BwWB(J@LG.@ BwUF7BWV?AJLF.JL"GIPPHG$LJ Q:B(O@?AGI= 6 OGI=@F.?A=J>WB(P?A]t?A=F7W`J@F7@B(]B(=@JgF.=C
F.J?AO\WB(JNPA@J ?A=WB(JB(O@MG.@ BL]G;CNPANJG.0OGI=@?A=:N?H@`G.]NPH@?H7F.PAN'B(CJB(JN?APA?A='B(F7WG.W]tJF.JJG;O?AF7@B(C
L?A@ _Q;f 2 9 9$ b5 BL]tF.?A=^WB(JNPH@G.@ ?AJ F7BWOGI=OBW=?A=Y_@ BLBWWG.WMB(J@?]tF7@B(JG.@ BLC?AJOWB@?HZB(C
?A=OPANJ?HGI=E?JLB(J@F7UPA?AJ B(Ch?A=oQ:B(O@?HGI=: b5 ?AJ5B;@B(=CJgF.=COGI]PA?]B(=S@JL@ BWB(JNPH@JLG. WBBWB(=OBE

OGI=OBW=?A='YtJ?]t?APAF7W\C?AJOWB@?HZ(F7@?HGI=J G.OPAF.JJ?AOF.P0C?BWB(=@?AF.P?A=OPANJ?HGI=J
{ raqgy({}y|r

v0x|~xzq~{}qVxv|a

qzvxzy({ |~xwqzv

oBtWB(JB(=@w?A=@ ?AJ~JB(O@?HGI=JGI]Bt='G.@F7@?HGI=J(C'BT=?H@?HGI=JgF.=CB(J@?]tF7@B(J_ ?AO BtL?APPB(]tPHG$`?A=


@ B_JB(N'B(P ?H@ GIN'@5PHGIJJ\G.Y.B(='BWF.PA?A@`.B_OGI=J?ACBW5?A=OPANJ?HGI= 9 9$ F.=C 9 6I CBT='B(CaGI=PH`GI=E@ B
?A=@BW7F.PV 8 9 @ K  [V=`oG.@ BW?A=S@BWF.Pg 8 #"5$ "G.W"\ 8 ]tF$`BaOGI=.BW@B(C?A=@G 8 9 5:`F.=
F7WG.W?AF7@BzWBYINPAF7WV@WF.=J"G.W]^F7@?HGI= 2 = F7@VGIPAPHG$>JN=PHB(JJLG.@ BWL?AJB?A=C?AOF7@B(C X Z @ BgC @

JNO @ F7@ XF%Il ChnSqp Z %  CnSs l  @ B ;p; Qs ,/t 013 A@ K  (


Jwv
iRB@ j _ 8 9 47 5 = 6 <9#<  BF]NPH@?H7F.PAN'B(CJB(JN?APA?A='B(F7WG.W]JF7@?AJ`:?='Yo@ BGIPAPHG
L?A='Y
OGI=C?H@?HGI=J+
'l G.WaB.BW`O 7 5 g 8 9 $ j  YO X YZ ?AJ^='GI='B(]@`.5OGI]F.O@aF.=CdF.=CdOGI=S.BmJN'JB@
G.@ @ B_OGI]PHBTB(PAC0
b5 B]^F7 j  + X Y Z ?AJPHG:OF.PPH`i?HJO ?H@Z(?AF.=N=?HG.W]tPH`?=h 8 9 5L?A@ iR?AJO ?H@ZOGI=;
J@F.=@JiR v S
bL BWB~B'?AJ@J GIJ?H@?A.B_OGI=J@F.=@J,dF.=C  JNO @ F7@
T j  YO X YZ +T ,MPOQMPRS  
G.WLF.PAPbO 7 5 ; 8 9 F.=CG.W>F.PAP X YZ @ BDC @
(
c BWB.
JN'
T j  YO X YZ +T%
T RS T (
) v q R v S
oBg='G.@BV@ F7@@ B>]tF7= j  YO X YZ ?AJ]B(F.JN'WF7PHB>?= 8 9 "G.WB.BW`tT';B(CB(PHB(]B(=@/O 7 5 JBB
d
J?A=OB~@ Bw]^F7?AJ PHG;OF.PAPH`a?A=S@BY.WF7PHB~GI=?@ K 
2 =GIN'WJN'UJB(NB(=S@wF.=F.PH`:J?AJBaJ F.PAP='BB(C@ BaGIPAPHG$>?A='Y b5 BG.WB(] ?AO ?AJ_@ BF.J?AO^B;?J@B(=OB
WB(JNPH@\G.5 9 9$ CN'B~@G^WB"BWB(=OBd

x fW Ri B@DBF GIJ?A@?H.Bh=:N]zBWF.=C~@ %

PHG
L?A='YOGI=C?H@?HGI=J GIPC

 ' #"5@ K  [>JJN]B@ F7@a@ BGIP

F @= 7 5 ?AJtF.=mF7W?H@WF7W` WG:OB(JJtPH`;?A='Yo?A=  7 5 `ba 3 F.=Cd@ BWBB'?AJ@J^GIJ?H@?H.BEN=O@?HGI=


kRS7 JF7@?J"`;?A='Y


 ZF\ j   X YZ 9 kRS. (


  VX
?AJ i?HJO ?H@Z(?AF.=aWGI] v @GhOPAGIJ$ 7 5 P BWB
v % L YO - @i4 7 5 cMPO MPRS N  X YZ @ BDC @
F.=CkMPO '
 ' MPRS ] (
O lG.W>F7W?A@WF7W` X YZ @ BgC @
 @







 R S  (

R
I
S



P
M
O


P
M

R

S

B
;

R
I
S


B
:

R
S

%
c

'
'

2 0?A=aF.CC?H@?HGI=0
  F7WBVOGI=@?A=:N'GINJ"WGI]@4 7 5 @GOPHGIJ$ 7 5 P ;@ B(=a@ BWB>B'?AJ@FJGIPAN'@?HGI=
G.?A=OPNJ?HGI=o 9 9$ F.=CFJN'JB@h@^JNO @ F7@
 KF.O G.@ Bw]tF7J
 

M ~
 MPRS h
RS. 
F.=C


T  h
V X
G.WF.PA]GIJ@F.PAP/
N=O@?HGI=G.W j PA`:?A=Y?=D,


~ F
Z \
RSI
V X   ZF\ WT R S  
RSI  k
  h
BWB % L 
@ 
RS. ] F.=
C R S @= A  A? Jz@ BEiR?HJO ?H@Z
02 1#3(A@

r  ? >2 =@ ?AJgF7BW(BtF.JJN]tB@ F7@~@ BtOGB+*O?HB(=S@J


  F7B(F7W?A='Y?A= 9 9$
F7WBziR?HJO ?H@Z(?F.=aN=?HG.W]tPH`t?A=g 8 9
3 GI=JB(NB(=S@PH`.7@ B ]tF7E YO = j  YO X YO X YZ ?JF.PAJGVi?HJO ?H@Z(?AF.=z?A={OIN=?HG.W]tPA`V?A={ 8 9
b5 F7@5?AJ G.Wz YO > Y - 8 9 4 7 5
j  YO X Y Z j  Y X Y Z  iRSMPOfMPRS (
?A? e` b5 BG.WB(] 6 9 ;@ BgJB@G.0JGIPAN'@?HGI=JMG. 9 9$ ?AJM=GI='B(]@`tF.=C^@ BL7F.PAN'B(JG.0@ B>JGIPAN'@?HGI=JF7WB
OGI=@F.?A='B(C?=E@ B_J B@
%  B:AiRS  h
BWB

U% LO 7 5 gMPO;MPRS 9 X QZ @ BgC @
^]

F.=C^\ 8 ?JMJGI]B>GIJ?H@?H.B5T:B(C=N]zBW( b5 ?AJ OF.=BLJ G


L=t:`JB@@?A='Y^ Q 8 F.=Cgz 8S;%  '
?A= bL BG.WB(] 6 9 b5 B(=:` F7G
.B.
8 j  8S X YZ  (

Q:B@@?='YgkRSI  ?= b5 BG.WB(] 6 9 BOGI=OPANC'Bz@ F7@V@ BWBB;?AJ@JVFaJGIPAN@?HGI=k  7 5 `a 3 G.


9 9$ JNO @ F7@
M ~ MPRS  B:AFRS
G.WLF.PAP X QZ @ BgC @
XV:;?HGINJPH`.4U ' v (
l'GIPPHG$L?='YFJ?A]t?APF7WMWG;OB(CN'WBgF.J ?=
'B_='G
?A=@WG;CNOBV@ _
B ='G.@?HGI=G.@ B_]G;CNPANJG.OGI=@?A=:N;
?H@`zG.WM]NPH@?H7F.PAN'B(CJB(JN?PA?A='B(F7W"G.W]tJF.JJG;O?AF7@B(Ct>?H@ _Q;f 2 3 GI=J?ACBWF~]NPH@?AF.PANB(CJB(JN?APA?A='B(F7W
G.W]
 U 8 9 c= 6w #< 
JNO @ 7F @    X Y Z ?AJLOGI]F.O@5G.WLF.PAPc 8 9 $ X /Z @ BgC @

D" ? b5 B_PHG;OF.P0]G;CNPANJG.OGI=@?A=N?H@`a"G.W   X YZ ?AJ5C'BTU='B(C`

F   X YZ u% JN'bL  X YZ   X YZ  Y  6 Y  6 8 9 ] (
?A? bL B,fF$.BWF7Y.B(C]G:CNPANJG.OGI=S@?A=:N?H@`G.W   X YZ ?J C'BT='B(CE:`
0 ^ X YZ % L ^  c X YZ   ] 
9 V (
'
oBw=G.@B_@ F7@5@ BzF7G
.Bz]G;CNPNJ?J B(PPC'BT='B(CEJ?=OB~@ B_]tF7
= F   X Y Z
?AJ ]tB(F.JN'WF7PAB_F.=CEGIN=C'B(CaGI= 8 9 \l'G.W g% 9 B_J?A]UPH`t5W?A@B
0 ^ X YZ % 0 ^ X YZ (
?A?? l'G.W 8^   . ++ # 9  @ B_E 7F7W?AF7@?AGI=EG.@ w
B ]tF7?Q=   X Y Z ?AJ C'BT=B(C`

^YX YZ u% JN'bL
   X YZ   X YZ  (

3 GI=JB(NB(=S@ N'GI=@ B5CBT=?H@?HGI=JF7G
.B.B F(.B>@ B GIPAPHG$>?A='YgWB(JNPA@J GIJB WGG.J"GIPPHG$dJ?A]t?APAF7W
F7WYIN]B(=S@J>F.J5?A=

xfW

>? l'G.W V . B F(.B


0 ^ X Y Z 0 ^
 . X Y Z (

?A? 0   . X YZ 0  X YZ  0  . X YZ
BWB
  .  X YZ u%~  X YZ  .  X YZ
@ B_F.PAY.BWF.?AO_JN] G.@Ga]zNPA?H7F.PAN'B(CJB(J:N?APA?='B(F7WG.W]tJ
  .  8 9 f=

6w <9 f (

?A?? l'G.W>F.=`GIJ?A@?H.B_?A=@BY.BW
0 ^ N X YZ _ W0 ^ X YZ (
?H 2  F.J5GIN=C'B(CaE 7F7W?AF7@?AGI= ^YX YZ @ B(=
0 ^ X YZ ^YX YZ (
 P?A] 0 ^ X YZ /% 8 ?H0F.=C^GI=PA`?A@ BV]^F7Q=   X YZ ?AJ c F.NJC'G.WOGI=@?A=:N'GINJF7@F.P]GIJ@

F.PAPb ' 8 9 (
D B:@UBwT'FtF7W@?H@?HGI= 8iV  V  . ++PY % 9 G.@ Bw?A=@BW7F.PM 8 9  BWB   f% % F.=C
>
C'BTU='B~@ B_F(.BWF7Y.B(C]tG:CNPANJG.OGI=@?A=:N?H@`aG.W5@ Bz]tF7  YO = j  YO X YZ b5 ?AJ ?J ='BB(C'B(CG.W
@ BgOGI]F7W?AJGI=tG.R@ BVJB@G.0JGIPN'@?HGI=JMG. 9 9$ L?H@ @ BVJB@G.0JGIPAN@?HGI=J G.R@ BVF.JJG:O?F7@B(CaC?AJOWB@B
?A=OPANJ?HGI=
VX   Z^\
 '
%

VX  Z^\  j   X YZ
 ') Q % 8 9 + + 9 (

6 ( 9$

2 =} 6 9$ L  ] ' ?AJaF C ?AJOWB@BJB@aG.w]B(]zBWJ^G. 7 5 @ F7@aF7WG('?A]tF7@B(JL   ]    B(?A='Y


F.=oB'F.O@zJGIPAN'@?HGI=G._ 9 $9 e` b5 BG.WB(]:E?A=d
?A=OPANJ?HGI= 6 9$ ?AJgB(:N?H7F.PHB(=@~@G@ B^C ?AJOWB@B
?A=OPANJ?HGI=YI?H.B(=`
 

    c   
   [
 
        
G.WLF7WG('?A]tF7@?A='Y^_Q'f 2 9 9$ ?=@ BwJF.OB7 5
"  l'G.WET';B(CO ? 8 9 VBF.C'G.@@ BGIPAPHG$>?A='Y =G.@F7@?HGI=JF.=C C'BT=?
D
@?HGI=J5F.J5?A=

? jF  YO c X YZ u% JNbL j YO X YZ j  f YO X YZ 

Q  Y  8 9 ]
6
6

BWB  + ?AJ\@ B c F.NJC'G.W]B@W?AOgGI= 6



?A? fVBT=B_@ Bw]tF7

b5 B(='@ B_]tF7?Q=

j^ c X YZ  % JN'bL j^ YO c X YZ uO ] (
jF   X YZ ?AJ5]B(F.JNWF7PHB.;GIN=C'B(CEF.=C@ BWBG.WBw?A=@BY.WF7PHB~GI= 8 9

?A?? b5 B_F(.BWF7Y.B(Ch]G;CNPNJG.OGI=@?A=:N?H@`G.W5@ B_]tF7 j ?AJ C'BTU='B(C`

0 ^
j X YZ %
'

j^  c X YZ   (

oBEWB(]^F7W BWB@ F7@ bL BG.WB(] 6 d? ^ GIPCG.W@ BE]tF7 j  YO X YZ F7B(F7W?A='Y?A= 9 6I


WG$;?AC'B(C@ F7@w?A=?A j  YO X YZ F.J~GIN=CB(Ch57F7W?AF7@?AGI=oN=?HG.W]tPH`?=O 7 5 F.=C?A=
 j  YO X YZ ?AJ c F.NJC'G.WoOGI=@?A=NGINJ5F.PA]GIJ@ B.BW` BWBw?A= 8 9 N=?HG.W]tPA`t?A=gO

qVrarastruqwv0xzy({}|~xzqzv
b5 ?AJJB(O@?HGI=?AJECB.G.@B(C@G@ BoB(J@F7PA?AJ ]B(=S@aG.BWWG.WEB(J@?]tF7@B(J?A=.GIPH.B(C ?A= JGIPH:?='Y @ BC?AJ*
OWB@?AZB(C^?A=OPNJ?HGI= 6 9$ ?A=PF.OB5G.M 9 6I 2 = F7@"GIPAPAG$LJPHB@ X YZ @ BDC @
BLF7W?A@WF7W`JNO @ F7@
Xi%~l CnSqp ;Z %  Cns l  @ B pQ ;s ,;J. A@ K  ( 2 =JGIPH;?A='Y_@ B>C?AJOWB@?HZB(C^?=OPANJ?AGI= 6 9$
GI='Bz]tF(`O GGIJB  RS v   %^VhX   Zi\F7W?A@WF7W?APH`"WGI]@ B_W?HY @ F.=CJ?C'B~G.L 6 9$ c G
B.BW$
B>B(]tPHG$`FzC'BTU=?H@B>F7WGIF.O ?AO B(=JN'WB(JM@ F7@\@ B(JBVJGIPN'@?HGI=JMGIJJB(JJ\OBW@F.?A=aWG.BW@?AB(J b G
@ ?J\B(=C'Bw?A=@WG:CNOBg@ Bw='G.@?HGI=G.i?HJO ?H@Z(?AF.=E:NF.=@N]J@G;O F.J@?O_WG;OB(JJB(J(
D" 0 g[ J@G;O F.J@?OwWG:OB(JJ 
@ BWB~B;?AJ@LOGI=J@F.=@J,;RS\ 8 JNO @ F7@

R 8 9 =

7 5 L?APAPBJF.?ACh@GBiR?HJO ?H@Z(?F.=EGI= 8 9 ?A

M       . MPRS ,;RS T   . T  Q
 . 8 9 (
oB_WB(]tF7W@ F7@5@ B_JB@5G.JNO  WG;OB(JJB(J5C'B(=G.@B(CE`g,> 7 5 ?AJL='G.@ (B ]@`.
b5 B_F.==? ?PAF7@?HGI=WG;OB(JJ  U 8 9 c = 7 5 YI?H.B(=E:`

  Z % $ s  ZW QZ % ns Qs ,
t v 021#3 A@ K 
'

( 9$

JF7@?JTB(J'G.W ;
 . 8 9
M       . MPRS
%

%
BWB


TNVX    ZF\ VX    . ZF\ T

TNVX YZF\ TT s  T

 TWVX YZF\ TT   . T
,;RS T   . T

% JN' T s +T ,QRS % TVX YZF\ T (


 ' v  

iRB@  5 ,V 7 5   7 5 9`ba 3 ( oBMOGI=J@WNO@0@ BMJGIPAN'@?AGI=  G.:@ BMC?AJOWB@B ?A=OPANJ?HGI= 6 9$ F.J0GIPAPHG


LJ+
 %  ' .F =C"G.W % 8 9 6 ++ 9
'
 R S v  % 
V X   Z^\

Z \  j   X YZ 
% W G$ VX  5   Z^\ VX  ^

( 6I

BWBWG  ?AJg@ BtN=?A:N'BB(PHB(]B(=@~G.  OPHGIJB(J@~@GE@ BB(PAB(]B(=S@ @ bL


B B;?AJ@B(=OBtF.=C
N=?ANB(='B(JJG.WG  F7WBVF.JJN'WB(C^`@ B>OGI=.B;?H@`F.=COGI]F.O@='B(JJG.  h @ 3 GI=JB(:N'B(=@PH`.
B F$.B_@ B_GIPAPHG
L?A='YWB(JNPH@J
[VJJN]B@ F7@~@ B^]tF7m YO = j   YO X YZ 7F B(F7W?A=Y?= 9 6I JF7@?AJTB(Jg@ B
; " 0 t
OGI=C?H@?HGI=J bL B(=E@ BWB~B'?AJ@JLOGI=J@F.=@ % X YZ \ 8 JNO @ F7@5G.WLF.PAP 6
]^ F M   5  MPRS #" M  5 8S  'MPRS 

'!


   VX  5  ZF\ j   5   X YZ     0 j^ X YZ   $ (
'
c% oBTWJ@J G$ @ F7@G.WoF.=S` ?A=S@BY.WF7PHB J B(J:N?APA?A=B(F7WG.W] F.PANB(C ]t7F   '&=
n ( A @ BDC @
F.=CEF.=S`EOGI]UF.O@>F.=COGI=.BJB@  h @
*) ,+  X YZ   V&u- /. ,
+  X YZ    (
a
a
Q;?=OB
@ (B =

,+ WG(   X YZ    &u- 
a

0) ,+   X Y Z   g&-- 1. 32 ,+   X Y Z  ,+ WG(    X Y Z  2


2 a
2
a
a
2
2
2

,+ T  X YZ oWG   X Y 2 Z +T  
a

% ,+  X YZ    (
a
[VPAJG'\G.WF.=`OGI]F.O@JN'JB@J  .G @ /
@ BhJ .F PP B(]PHG
` @ BB(PAP5;='G$>=d?A='B(:NF.P
?H@`
  (
 tc   t
(
D>B:@"G.W % 9 6 + +'B_B(]PAG$`a@ Bw='G.@F7@?HGI=
R S v  % 54 VX  5  ZF\ VX  5  76 ZF\  j  76  5  76  X YZ {(
<VJ?A='Y : F.=C : B_G.@F.?A=

R S v %
4 VX  5  Z\ VX  5  76 ZF\ ; j   76  5  76  X YZ 

 

 5  ZF\ j  86  5  76  X YZ 9  

  VX
 

 


 5  ZF\ j  _ 5   X YZ 9

  VhX
9
 
 4 j   5   X YZ j  76  5  76  X YZ ;: 


 5  ZF\ j   5   X YZ 9  
%
  VX
'



4 j   5    X YZ j  76 _ 5  86  X YZ   (
 
b5 B_PAF.J@ @BW]?= : JF7@?JTB(J



4 j   5   X YZ j  86 _ 5  76  X YZ   
 



4 j   5   X YZ j   5   X YZ  





4 j  _ 5   X YZ j  76  5  76  X YZ  




4 j   5   X YZ j   5   X YZ   
 

 
FRSM 5   5 

76 MPRS   0 j^ X YZ  iRS+,QRS (
 
3 GI=JB(NB(=S@PH`.'WGI] :

R S  VX  5  ZF\ j  _ 5   X YZ  


v
 

'

 FRS ,QRS  0 j^ X YZ

BWBFRS) ,;RS~F7WB~@ B_i?HJO ?H@Z~OGI=J@F.=@J5G.W5@ B_]^F7 j  + X YZ F.=C@ B~WG;OB(JJ  5 WB(JB(O


@?H.B(PA`.
D>B:@BwCBT='BB R S :`
v
B R S v  % <4 VX  5   ZF\ VX  8 6 Z\  j   7 6  7 6 X Y Z  Q % 9 6 ++! (
[>YIF.?A=':`E?A='B(:NF.PA?H@`h :

B R S v
4

VX  5  Z\ VX  5  76 Z\  j  76  5  76  X YZ  

Z \  j  86  7 6 X YZ VX  5  76 ZF\  j  76  5  76  X YZ 
VX  7 6 ^

R S v  M  5  86  8 6 MPRS  4 j  76  7 6 X YZ j  86  5  76  X YZ 
R S v  9u iRS M  5  76  7 6 MPRS (
e\N'@ :` : 6I @ BwOGI=J@WNO@?HGI=G.JGIPN'@?HGI=  R S .G @ BwC?AJOWB@B_?A=OPANJ?HGI= 6 9$ JF7@?JTB(J
v
B R S v % TWVX  5  ZF\  R S v T% M  5   MPRS (
b5 BWB"G.WB.JB@@?A='Y
B F$.B

B R S v % M  5 8S  ' MPRS)
'

B R S v R S v  9/ FRS B R S v 76 % 9 6 ++! (


e`^@ B_C?AJOWB@Bg.BWJ?HGI=aG.R@ B~
B(PAP:=G$L=,=VWGI=S\F.PAP?A='B(:NF.PA?H@`hJBB_fVGI=@O BEF.=ClF7W :?
G.W
B'F.]PHB B_Y.B@

]^ F B R S v n?>  ) R S v  B R S v .(
'

!'
c B(=OB.:` : 0@ BOGI=OPANJ?AGI=G.MnMWG.GIJ?H@?HGI= : 6I "GIPPHG$LJ>WGI] @ BPAF.J@V?A=B(NF.P?H@`. BWBz@ B
OGI=J@F.=S@ % B;AFRS
r  2 @ Bw:NF.=S@N]J@G;O F.J@?O~WG;OB(JJ 5 A? J FtJGIPN'@?HGI=G. 9 6I U@ B(=

M  5 8S k' MPRS % 8
 5  ^
Z \ j   5   X Y Z 9% 8
  VX
G.WLF.PA]GIJ@5F.PAPc 8 9 lNW@ BW]G.WB.` b5 BG.WB(] 6 ?H
0 j^ X YZ j^YX YZ
98

BWB j^YX YZ ?AJ_@ BtF7W?AF7@?HGI=G.\@ Ba]tF7 j ?A=@WG:CNOB(C?A=fVBT=?H@?HGI= 6 6 2 =F7W@?ONPAF7W(R?A


j  YO X YZ F.JFGIN=C'B(C F7W?F7@?HGI=N=?HG.W]tPA`?=O M@ B(=0 j^ X YZ A
% @ q ( 3 GI=JB
:N'B(=@PH`.n WG.GIJ?A@?HGI=: 6 `;?HB(PACJ
]^ F M  5   PM RS n?>  9; j^YX YZ w (

'!

b5 Bw]tF.?A=WB(JNPH@LG.@ ?AJ F7BWVC'BB(=CJ F7W@?AF.PAPH`aGI=@ Bz='B;@>PHB(]^]tF; b Ga@ ?AJ B(=CBz?A=@WG;CNOB


@ B~GIPAPHG
L?A='Y='G.@F7@?AGI=
KRS % JN' L T j    X Y Z + T   R S% L  R S v ] JGIPH.B(J> 6 ( 9$ /

8 9 ] (

(d

u 0 MiRB@KRS~JF7@?AJ` :2d b5 B(=G.W5B.BW`JGIPAN'@?HGI=


 R S  % L  R S v %VX  ZF\ % 8 9 6 ++! ]
G. 6 9$ U@ BWB~B;?J@J5FtJGIPN'@?HGI=~ G.5 9 9$ JNO @ F7@
]^ F M ~  PM RS B:RAiRS AKRS+iRS  0 jF X YZ  (

'!

(e

c% i0B@LF^J@G:O F.J@?AO_WG;OB(JJCB U 8 9 = 7 5 B_C'BTU='B(CEF.J5GIPAPHG


LJ+
B



Q%     4  


b5 B_F.JJG;O?AF7@B(C?AB(OBL?AJB~PA?A=B(F7W5]tF7@W?B(PHB(]B(=@CB

   
% 8 9 6 ++ 9 (

RS   %VX DB  ZF\ A? J\YI?H.B(=:`

RS  ;%  RS v    4  RS v   RS v 
  7 5 `a 3
BWBL  R S ] ?AJ5FtJB@5G.Y.W?ACEJGIPAN'@?AGI=J\G.5 6 9$ 3 PHB(F7WPH`.;B 
v
e`EOGI=J@WNO@?HGI=EB F(.B
B


9 
B

 R S v  Gj   X YZ (
  R S Q% R S v 
D>B:@B_B(J@?A]tF7@B
e`E?A='B(:NF.PA?H@`h :

  DB  YZ (
B
 X 9
  R S j

   DB   Y Z
B
 X
  R S j

  B R S  j   X YZ 9 j  DB   X YZ j   X YZ 
9.9

( 98S

( 9.9$

  B R S  j   X YZ  iRS T B RS   RS v T

( 9(6I

  B R S  j   X YZ  iRS+KRS+ (
b5 BPF.J@t?A='B(:NF.PA?H@`GIPAPHG$>J"WGI]
F$.B

:2d F.=C : 98S d[>YIF.?A=`B(]PAG$`;?A='Y : 9.9$ F.=C : B




   

R
X
  S j

4 j   X YZ j  

jF  Y 6  X YZ

JN' j^ Of Y 6 c X YZ -%
F E
[>PH`;?A='Y 5
b BG.WB(] 6 9 :`JB@@?A='Y

YZ 9

X YZ 
j^  6 c X YZ (

kRS. Q% FRS KRS+ 

jF  6  X YZ

BwOGI=OPANC'Bg@ F7@5@ BWBwB;?AJ@J5FtJGIPAN@?HGI=~ G. 9 9$ JF7@?J"`;?A='Y?A=B(NF.P?H@` :2e


D>B:@BWB(JB(=S@GIN'W]tF.?A=WB(JNPH@ b G@ ? JwB(=C0 BE?A=@WG;CNOB@ B"GIPAPAG$L?A=YhJB@JG.>.B(O@G.WJt?A=
@ B_JF.OB{@ 
fVB(='G.@B~:H
` G  ' @ B~JN'JB@G. _ 7 5 `ba 3 OIG =J?J@?A='YG.R@ Bg@WFB(O@G.W`N=CPHB5G.\ 9 9$ b5 B(=0:B
C'BTU='B~@ B~GIPAPHG$>?A='YJB@J
K k' X YZ  % L R S % $uRS. Q % 8 9 6 ++
JNO @ F7@

~ 

 ' ] (

B k' X Y Z  % L  R S %  RS v Q % 8 9 6 ++!


JNO @ F7@  R S A? J ^
F JGIPAN'@?HGI=G.@ w
B C?AJOWB@?HZB(CE?=OPANJ?AGI= 6 9$ ]

l'G.WJI/ LK @  B_B(]UPHG$`a@ B_]tF'?A]N]='G.W]


T I~MK T  %

]tF T I MK T
'!

F.=C@ B_F.JJG;O?AF7@B(C c F.NJCG.W]tB@W?AO GI= 6
 N
3 GI=JB(NB(=S@PH`.@ B5GIPAPHG
L?A='Y~@ BG.WB(] F.JMBB(=tB(J@F7P?AJ (B C:`@ B>OGI]z?A=F7@?AGI=G.0n WG.GIJ?A@?HGI=t: 6
F.=Ci0B(]t]tFt:'
x fW  _[VJJN]tBw@ F7@g@ B^_Q;f 2 9 6I J F7@?JTB(JgOGI=C?H@?AGI=J b5 B(=h@ BWBB'?AJ@

GIJ?H@?A.BgOGI=J@F.=S@JVC'BB(=C?='YzGI=PH`^GI= X QZtJNO @ F7@

j X Y Z   ;$
4 K ' X Y Z uB k' X Y Z  0 ^
9(6

(9

G.WLF.PAP 6 (
|aPOhosJQ qgSRqg{}qghx
2 .F ] Y.WF7@BNP@G@ Bt[>CNJ~Q;F.PAF.] 2 =S@BW=F7@?HGI=F.P 3 B(=@WBG.W b5 BG.WB@?OF.Pn `:J?OJ b W?HB(J@B. 2 @F.PH`.
G.W~F^;?AJ?H@?='Y^k5B(JB(F7WO l'B(PPHG$LJ ?Hh?=jhF7@ B(]tF7@?AOJg@ WGIN'Y ?AO @ ?AJLG.W\F.JgC'GI='B. 2 @ F.=
nMWG."B(JJG.WjU Tg?HWF.JG.WG'@ Bafg?HWB(O@G.WzG.5@ B 3 B(=@WBF.=C nMWG."B(JJG.W[zXWV_N';NG.LjhF7@ B(]tF7@?OJ
Q:B(O@?AGI='"G.W ?AJ B(PHF.=CEB(=OGIN'WF7Y.B(]tB(=S@

rqg5qgraqgozqzv
9 [>N'U?A=;X'n U 3 B(PAPA?A=F;:[zMfg?BWB(=@?AF.P 2 =OPANJ?AGI=J.U:JY[ZU(I 9 we d
6 [>N'U?A=; X'n l'WF.='.G
LJ7F; c Q:B@\\T F.PN'B(C[V=F.PH`;J?AJ]L"_^$;7: 9 ewe S8

[L`.G:GIPAF;.K5XwK;GI=B(=S@?AF.P7G.W]NPAF\G.WR@ BWB(F.O F7PABMJB@JG.::NF.=@N]J@G;O F.J@?AOMC?HBWB(=@?AF.P


?A=OPANJ?HGI=J;JN']^?H@@B(Ca@G(: zgU7
z.UI . 7'
7[L`.G:GIPAF;\K5X 3 GI=J@WNO@?HGI= G.gF7WG$;?]tF7@BEF7@@F.?A=F7?AP?H@`JB@JG.WtiR?HJO ?H@Z(?F.=:NF.=@N]
J@G:O F.J@?AOzC?BWB(=@?AF.P0?A=OPNJ?HGI=J(U$:VU7"z7U^\IU . 7' a`UbPc  678.8'9$ S 9
d 9
[L`.G:GIPAF;IK5XXg=zOGI=S.BWY.B(=OB G.'GI='BMJ@BJO B(]B(J"G.WB(F7zJGIPAN'@?HGI=J0G.:NF.=S@N] J@G;O F.J*
@?AO~C?BWB(=@?AF.PB(NF7@?HGI=J>(\IU7UI_.'t. SW egf b( c  jhF(`. 678.8'9$_9 e d:

f>GI=@O B U[wi l F7W ? KLj>UK WWG.W B(J@?A]tF7@B(J5G.W>C?AJOWB@?HZB(CEC?BWB(=S@?AF.P?=OPANJ?AGI=J.hY


U'" R 9 ewdwe e
d:
i $f>GI=@O BU0[ iRB(]?HG'l5fg?BWB(=OB]B@ G;CJ>"G.WgC?BWB(=@?AF.P0?A=OPNJ?HGI=JM[ JN'W.B`.:V
57 j
bk c?l 9 ewe 6I>6 .
6 e'
d
K F7YIN'BWB.W=XQViR?HUJO ?A@Z(?AF.=:NF.=@N] J@G:O F.J@?AOC?HBWB(=@?AF.P?A=OPANJ?HGI=JU.nm'
;7VS RobUc  9 ewe 6I>678.8
678 '
e
K F7YIN'BWB.a=XQMgNF.=@N] J@G;O F.J@?AO C ?BWB(=@?AF.P;?A=OPANJ?HGI=JG. ` BW]^F;?A]^F.P:]tGI='G.@GI='B
@`:B.U.pm' ;7(>\S Wbgc  9 ewe 6
:
98 K F7YIN'BWB.W
=XQ~~NF.=S@N] J@G:O F.J@?AOB.GIPAN'@?AGI=JzUIqm; ;7(tS krbD`c
9 ewe. 9 e 8 e 9 eS:
9.9 c N CJGI= k_i nF7W@ F.JF7WF7@ `./Vtk_gNF.=@N] 2 @GsJ^G.W]NPAF7BF.=CmJ@G;O F.J@?OB.GIPAN@?HGI=J
7;U>.:5\S `[rl 9 ewd 8'9 6
9(6 hTz[ziV~GI]tF7WG
UtTz[ nBIO H? uVKL/t[]tB@ G:C G.5F7WG('?A]tF7@?A='YF7@@F.?A=F7?PA?H@`JB@JzG.W
C?BWB(=S@?F.PL?A=OPNJ?HGI=J>?H@
F JB(O?HTB(CF.OONWF.O`.a7>U' II I:}\S Rob;c
9 ewe 9$_98 e
9.9(6
9
hTB(PA?HG$T\Q;B(OGI=CEG.WC'BWVC?AJOWB@B_F7WG$;?A]^F7@?HGI=E@GP?A='B(F7W5C?BWB(=@?AF.P0?A=OPANJ?HGI=JU;>vm'
~;t5VU7H ; ` 9 ewe 6I Swe
$ 9
9 7oGIPHB(=J;? SnB@BWkw[mN=?ANB(='B(JJ@ BG.WB(] "G.WMC?BWB(=S@?AF.P;?A=OPANJ?HGI=Jd m'_ wV.a xCy
A{ z
9 ewe 8S 9 9 d 6
9 oGIPHB(=J;? 7nB@BWk_ b5 BB;GI=B(=S@?AF.PI"G.W]NPAF\G.W0@ BMWB(F.O F7UPHBMJB@0G.'F5i?HJO ?H@Z C?HBWB(=@?AF.P
?A=OPANJ?HGI=:>|
m'577t
}"t z b'kc 9 ewe 8S_9.9 d
9.9 9

You might also like