Vous êtes sur la page 1sur 62

-'/+1,*.

,#
0'1
./ 2
-'
&'( *,"(-

*)%
)*+

2,$%0)+1

!"#$

!"#$!%
!%

.2

,
CHOLSAMAJ
-'/+1,*.,#
0'1
./ 2

-'
&'( *,"(-

*)%
)*+

2,$%0)+1
!"#$

!%

.2
,

!"#$%!&'$()*#+&,"-&!,"'&*"*
$),".)&'$/)&!*%/0."*1"."'2/%*1"*
!/%*3+"0!/%*$)14#")&%
'/-3")1$/*."%+-$1/

CHOLSAMAJ
!"#$%&'(#
-.(#%./)%'(0(1&2)3,4(")5678

!"#$%&'($)*+,-'."/'&."('+"+0*."1*'($2*'&+%231"+4"1"(52%+6"+
&2%+7-"3&2%+0*68#"*'%
!"#$%&'(")*%+,#('"

92/$.:+6"+4"%'112&&2+9'/;"%$*2+<9=4>9?@
!"#$%&''($)*+,-$./0&$1-$2&3&4(0&05/6$78%9:4(;<=8(36$>8&4(?&'&$$
@('AB&CD$EF)"1G$HIH1!)J)
7:4:/$K(LD$KKK-&M/%:&%:/0%/N(%&-/O5

92"6$.21"%A

92/-*$6'6+0*."1(-&.-1'&++ >%(-"&'+D1'3'E2+B2($'&++
6"+>%.-6$2%+B2($'&"%C+90>B FB?9
KKK-M/?/M%:(M-/O5 944;DAA4O&L&Q/M/%:&'-8M&%-(N8-54
92/$.:+6"+4"%'112&&2+9'/;"%$*2C+ G"6+;'1'+&'+4"H"*%'+6"++
9=4>9? 4"1"(52%+I-/'*2%C+G>4>I
KKK-%/N(%&(0?/P:?:(04/-/O5$ KKK-O(NN(B(0M/O(MN9-M:?;'(M:4(-%/?$
0*."1*'.$2*'&+!'*6+92'&$.$2*C+0!9 952&%'/'E
KKK-'&0N%/&':4:/0-/O5A(M KKK-%9/'M&?&Q-/O5

9:(#,4%;)<)=,/>%#/4/2)3,4(")5678
92*."*$62

0*.126-(($)*$* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ $ .$ )

4"(&'1'($2*"%$* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ $ /$ H

R(%'&O&%:S0$N($'&M$T&%:/0(M$U0:N&M$$
M/LO($'/M$R(O(%9/M$N($'/M$V8(L'/M$W0NX5(0&M$* * * * * * * * * * * * * * * * * * * * * * $ $ )$ I

R(%'&O&%:S0$Y?(O:%&0&$$
M/LO($'/M$R(O(%9/M$N($'/M$V8(L'/M$W0NX5(0&M$* * * * * * * * * * * * * * * * * * * * * * $ $$ !I

D1'.'62%+J+92*K"*$2%+0*."1*'($2*'&"% $* * * * * * * * * * * * * * * * * * * * * * * * * * * $ ,$ $ ++

Z/0P(0:/$![,$N($'&$\W@$M/LO($V8(L'/M$W0NX5(0&M$]$@O:L&'(M$* * * * * * * * * * * $ ,$ #$ +J

Z/0P(0%:S0$W04(O0&%:/0&'$M/LO($'&$^':?:0&%:S0$N($4/N&M$$
'&M$_/O?&M$N($R:M%O:?:0&%:S0$`&%:&'$* * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$ 0$ J[

Z/0P(0%:S0$;&O&$'&$VO(P(0%:S0$]$'&$7&0%:S0$$
N('$R(':4/$N($>(0/%:N:/$* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$ "$ )!

Z/0P(0:/$M/LO($R:P(OM:N&N$a:/'S5:%&$* * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$ $ )+

VO/4/%/'/$N($T&5/]&$M/LO($Y%%(M/$&$'/M$`(%8OM/M$>(0<4:%/M$]$$
V&O4:%:;&%:S0$b8M4&$]$^=8:4&4:P&$(0$'/M$a(0(B:%:/M$=8($M($N(O:P(0$$
N($M8$84:':3&%:S0$&'$Z/0P(0:/$M/LO($R:P(OM:N&N$a:/'S5:%&$* * * * * * * * * * * * * $ 1$ #$ )J

!"#$%&'($)*+0*."1*'+6"+,-'."/'&'$* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$ $$ ))

Z/0M4:48%:S0$V/'X4:%&$N($'&$`(;cL':%&$ $* * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$'$ )[

ZSN:5/$V(0&'$* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$'$ )[

ZSN:5/$280:%:;&' $* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$%$ )H
d(]$N($WN:/?&M$T&%:/0&'(M $* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$$ )I

d(]$N($VO/?/%:S0$^N8%&4:P&$%/04O&$'&$R:M%O:?:0&%:S0$* * * * * * * * * * * * * * * $ 1$$ )I

UM/$N($'/M$@O&Q(M$@X;:%/M$* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$$ )I

^N8%&%:S0$a:':05e($28'4:%8'48O&'$($W04(O%8'48O&'$$
(0$('$7:M4(?&$^N8%&4:P/$T&%:/0&' $* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * $ 1$ $ ),

`(B(O(0%:&M$&$'/M$N/%8?(04/M$%/?;'(4/M$(0$:04(O0(4$* * * * * * * * * * * * * * * * $ ($ !$ ["
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

0*.126-(($)*

^'$N(M;/Q/6$'&$%/'/0:3&%:S06$'&$M/LO((C;'/4&%:S0$'&L/O&'$]$'&$M:M4(?f4:%&$(C%'8M:S0$N($'/M$
;8(L'/M$:0NX5(0&M6$;/O$;&O4($N($'/M$;/N(O(M$:0M4&'&N/M6$4&04/$(0$'&$Z/'/0:&6$%/?/$(0$'&$
(O&$O(;8L':%&0&6$B8(O/0$80&M$%/0M4&04(M$=8($M(N:?(04&O/0$]$M(N:?(04&0$'&M$%/0N:%:/0(M$
&NP(OM&M$(0$'&M$=8($M8LM:M4(0$'/M$;8(L'/M$0&4:P/M$(0$Y?<O:%&$d&4:0&-

28]$ &$ ;(M&O$ N($ '/M$ ?(O?&N/M$ (MB8(O3/M$ N($ '&$ '(5:M'&%:S0$ ;/M:4:P&6$ N($ &](O$ ]$ 9/]6$ =8($
:04(04S$ ($ :04(04&$ O(%/0/%(O$ &$ '/M$ ;8(L'/M$ :0NX5(0&M$ %/?/$ M8Q(4/M$ N($ N(O(%9/M6$ (0$ '&M$
O(;cL':%&M$L:%(04(0&O:&M$N($'&$O(5:S0$'&$%8&':N&N$N($98?&0:N&N$N($'&M$]$'/M$:0NX5(0&M$&c0$
M($?&04:(0($(0$(04O(N:%9/6$%/?/$(0$('$M:5'/$ghW-

7/0$ :0NX5(0&M$ '&M$ ]$ '/M$ /L':5&N/M$ &$ O(080%:&O$ &$ M8$ :N(04:N&N6$ (M;:O:48&':N&N$ ]$ B:'/M/BX&$
;&O&$ M(O$ &N?:4:N/M$ ]$ (C:M4:O$ %/?/$ i%:8N&N&0/Mj$ (0$ '/M$ (M4&N/M$ 0&%:/0(M-$ d/M$ 0:%9/M$
'&L/O&'(M6$ M8?(O5:N/M$ (0$ '&M$ ;(/O(M$ %/0N:%:/0(M6$ (M4f0$ (C%'8M:P&?(04($ O(M(OP&N/M$
;&O&$4O&L&Q&N/O(MA&M$:0NX5(0&M-$d/M$M(OP:%:/M$LfM:%/M$0/$M/0$0&N&$80:P(OM&'(M$;&O&$'&M$
;/L'&%:/0(M$ :0NX5(0&M-$ d/M$ M:M4(?&M$ (N8%&4:P/M$ /B:%:&'(M$ ]$ &N/%4O:0&?:(04/M$ O(':5:/M/M$
%/04:0c&0$$$$M:(0N/$'/M$P(9X%8'/M$M/%:&'?(04($;(O?:4:N/M$;&O&$'&$&M:?:'&%:S0$N('$:0NX5(0&-$
d/M$;O/5O&?&M$N($L:(0(M4&O$]$N(M&OO/''/$0&%:/0&'(M$0/$MS'/$M/0$;O/?(M&M$:0%8?;':N&M$
;&O&$ '/M$ ;8(L'/M$ 0&4:P/M6$ M:0/$ =8($ M/0$ N:&?(4O&'?(04($ 0/%:P/M$ (0$ '/M$ 9(%9/M$ ;&O&$
08(M4O/M$;8(L'/M-

^0$(M4&M$%/0N:%:/0(M$:04(O0&M6$%/0$80$O&%:M?/$%/4:N:&0/$:0M4:48%:/0&':3&N/$($:0M4&'&N/6$
'/M$;&XM(M$'&4:0/&?(O:%&0/M$%/0?(?/O&0$M8M$N/M%:(04/M$&k/M$N($P:N&M$O(;8L':%&0&M$M:0$
9&L(O$&'%&03&N/$'/M$/LQ(4:P/M$4O&3&N/M$;/O$M8M$;OS%(O(M-

V/O$ (''/6$ N(MN($ ('$ ?/P:?:(04/$ :0NX5(0&$ %&?;(M:0/$ Z/?:4<$ N($ R(M&OO/''/$ Z&?;(M:0/$
EZ\R^ZYG6$ '&$ Z/?80:N&N$ W04(O%8'48O&'$ N($ ^M48N:/M$ 7/%:&'(M$ EZW^7G$ ]$ '&$ Z/&':%:S0$
W04(O0&%:/0&'$;/O$'&$@:(OO&$EWdZG6$&M8?:?/M$=8($'&$(?&0%:;&%:S0$N($'/M$;8(L'/M$:0NX5(0&M$
(0$>8&4(?&'&$]$(0$('$?80N/$(M$&c0$80&$4&O(&$;(0N:(04(6$]$(0$;O/%(M/$N($%/0M4O8%%:S0-$
^0$ (M4($ M(04:N/6$ %/0M:N(O&?/M$ =8($ ('$ ;O(M(04($ %/?;(0N:/$ =8($ %/04:(0($ '&M$ 0/O?&M$
:04(O0&%:/0&'(M$]$0&%:/0&'(M$P:5(04(M$M/LO($N(O(%9/M$%/'(%4:P/M$N($'/M$;8(L'/M$:0NX5(0&M$
(M$80&$9(OO&?:(04&$B80N&?(04&'$;&O&$&O4:%8'&O$]$&%('(O&O$'/M$%&?:0/M$N($'&$N(B(0M&$]$('$
(Q(O%:%:/$;'(0/$N($'/M$N(O(%9/M$%/'(%4:P/M$($:0N:P:N8&'(M$'(5&'?(04($O(%/0/%:N/M

V&O&$ %O(%:(04(M$ M(5?(04/M$ M/%:&'(M6$ (0$ '/M$ N:B(O(04(M$ ;&XM(M6$ N(O(%9/M$ %/'(%4:P/M$ N($
;8(L'/M$ :0NX5(0&M$ %/?/$ ('$ N(O(%9/$ &$ '&$ &84/N(4(O?:0&%:S06$ &'$ 4(OO:4/O:/6$ &$ '&$ %/0M8'4&$
;O(P:&6$&$'&$:N(04:N&N6$&$'&$&84/0/?X&$'(5:M'&4:P&$]$Q8OXN:%&6$(04O($/4O/M6$M/0$%/?;'(4&?(04($
N(M%/0/%:N/M-$l6$;/O$4&04/6$'&M$&%%:/0(M$%/'(%4:P&M$(0$N(?&0N&$N('$%8?;':?:(04/$N($(M4/M$
]$/4O/M$N(O(%9/M$(?;O(0N:N/M$;/O$'/M$;8(L'/M$M/0$(M4:5?&4:3&N/M$;/O$'&$/;:0:S0$;cL':%&$
%/?/$4O&L&M$&'$N(M&OO/''/$]$&$'&$(M4&L:':N&N$M/%:/;/'X4:%&$N($'/M$(M4&N/M$0&%:/0&'(M-

5 .
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

^M4($N/%8?(04/$=8($UN-$&?&L'($'(%4/OA&$4:(0($(0$M8M$?&0/M$%/04:(0($'&M$N(%'&O&%:/0(M$
]$ %/0P(0:/M$ :04(O0&%:/0&'(M$ O('&4:P/M$ (C%'8M:P&?(04($ &$ '/M$ N(O(%9/M$ N($ '/M$ ;8(L'/M$
:0NX5(0&M-$ @&?L:<0$ (0%/04O&Of$ '(5:M'&%:S0$ 58&4(?&'4(%&$ M/LO($ ('$ 4(?&-$ ^M$ :?;/O4&04($
:0N:%&O$=8(6$(0$(M4($N/%8?(04/6$'&M$N(%'&O&%:/0(M$]$%/0P(0:/M$:04(O0&%:/0&'(M$O(B(O:N/M$
0/$ %/04:(0(0$ '/M$ ;O(f?L8'/M$ O(M;(%4:P/M-$ ^0$ ('$ %&M/$ N($ '&M$ '(](M$ 0&%:/0&'(M6$ (M4f0$
c0:%&?(04($ '/M$ &O4X%8'/M$ O('&4:P/M$ &'$ O(%/0/%:?:(04/$ N($ '/M$ N(O(%9/M$ N($ '/M$ ;8(L'/M$
:0NX5(0&M-$V&O&$&%%(N(O$&$%&N&$80&$N($(M4&M$0/O?&M$:0$(C4(0M/$4:(0($UN-$(0$'&$c'4:?&$;&O4($
N($(M4($N/%8?(04/$'&M$O(B(O(0%:&M$&$'/M$M:4:/M$K(L$N($N/0N($M($(C4O&Q(O/0$'/M$?:M?/M-$

0 6
Declaraciones

7 /
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+
4"(&'1'($)*+6"+&'%+L'($2*"%+F*$6'%+%231"+&2%+
4"1"(52%+6"+&2%+7-"3&2%+0*68#"*'%+
<MNNO@

?1.8(-&2+P
d/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/6$ %/?/$ ;8(L'/M$ /$ %/?/$ :0N:P:N8/M6$ &'$ N:MBO84($ ;'(0/$ N($
4/N/M$ '/M$ N(O(%9/M$ 98?&0/M$ ]$ '&M$ ':L(O4&N(M$ B80N&*$ ?(04&'(M$ O(%/0/%:N/M$ (0$ '&$ Z&O4&$
N($ '&M$ T&%:/0(M$ U0:N&M6$ '&$ R(%'&O&%:S0$ U0:P(OM&'$ N($ R(O(%9/M$ m8?&0/M$ ]$ '&M$ 0/O?&M$
:04(O0&%:/0&'(M$N($N(O(%9/M$98?&0/M-

?1.8(-&2+M
d/M$;8(L'/M$]$'/M$:0N:P:N8/M$:0NX5(0&M$M/0$':LO(M$($:58&'(M$&$4/N/M$'/M$N(?fM$;8(L'/M$]$
;(OM/0&M$]$4:(0(0$N(O(%9/$&$0/$M(O$/LQ(4/$N($0:05c0$4:;/$N($N:M%O:?:0&%:S0$(0$('$(Q(O%:%:/$
N($M8M$N(O(%9/M6$(0$;&O4:%8'&O$'&$B80N&N&$(0$M8$/O:5(0$/$:N(04:N&N$:0NX5(0&M-

?1.8(-&2+Q
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$'&$':LO($N(4(O?:0&%:S0-$^0$P:O48N$N($(M($N(O(%9/$
N(4(O?:0&0$ ':LO(?(04($ M8$ %/0N:%:S0$ ;/'X4:%&$ ]$ ;(OM:58(0$ ':LO(?(04($ M8$ N(M&OO/''/$
(%/0S?:%/6$M/%:&'$]$%8'48O&'-

) 8
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+R
d/M$;8(L'/M$:0NX5(0&M6$(0$(Q(O%:%:/$N($M8$N(O(%9/$&$'&$':LO($N(4(O?:0&%:S06$4:(0(0$N(O(%9/$
&$'&$&84/0/?X&$/$&'$&84/5/L:(O0/$(0$'&M$%8(M4:/0(M$O('&%:/0&N&M$%/0$M8M$&M804/M$:04(O0/M$
]$'/%&'(M6$&MX$%/?/$&$N:M;/0(O$N($?(N:/M$;&O&$B:0&0%:&O$M8M$B80%:/0(M$&84S0/?&M-

?1.8(-&2+S
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$%/0M(OP&O$]$O(B/O3&O$M8M$;O/;:&M$:0M4:48%:/0(M$
;/'X4:%&M6$Q8OXN:%&M6$(%/0S?:%&M6$M/%:&'(M$]$%8'48O&*$'(M6$?&04(0:(0N/$&$'&$P(3$M8$N(O(%9/$
&$;&O4:%:;&O$;'(0&?(04(6$M:$'/$N(M(&06$(0$'&$P:N&$;/'X4:%&6$(%/0S?:%&6$M/%:&'$]$%8'48O&'$N('$
^M4&N/-

?1.8(-&2+T
@/N&$;(OM/0&$:0NX5(0&$4:(0($N(O(%9/$&$80&$0&%:/0&':N&N-

?1.8(-&2+O
!-$ d&M$ ;(OM/0&M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ '&$ P:N&6$ '&$ :04(5O:N&N$ BXM:%&$ ]$ ?(04&'6$ '&$
':L(O4&N$]$'&$M(58O:N&N$N($'&$;(OM/0&-
1-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$('$N(O(%9/$%/'(%4:P/$&$P:P:O$(0$':L(O4&N6$;&3$]$M(58O:N&N$
%/?/$;8(L'/M$N:M4:04/M$]$0/$M(Of0$M/?(4:N/M$&$0:05c0$&%4/$N($5(0/%:N:/$0:$&$0:05c0$
/4O/$&%4/$N($P:/'(0%:&6$:0%'8:N/$('$4O&M'&N/$B/O3&N/$N($0:k/M$N('$5O8;/$&$/4O/$5O8;/-

?1.8(-&2+U
!-$ d/M$ ;8(L'/M$ ]$ '/M$ :0N:P:N8/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ 0/$ M(O$ M/?(4:N/M$ &$ 80&$
&M:?:'&%:S0$B/O3&N&$0:$&$'&$N(M4O8%%:S0$N($M8$%8'48O&-
1-$ d/M$^M4&N/M$(M4&L'(%(Of0$?(%&0:M?/M$(B:%&%(M$;&O&$'&$;O(P(0%:S0$]$('$O(M&O%:?:(04/$
N(D
&G$ @/N/$&%4/$=8($4(05&$;/O$/LQ(4/$/$%/0M(%8(0%:&$;O:P&O'/M$N($M8$:04(5O:N&N$%/?/$
;8(L'/M$N:M4:04/M$/$N($M8M$P&'/O(M$%8'48O&'(M$/$M8$:N(04:N&N$<40:%&n
LG$ @/N/$ &%4/$ =8($ 4(05&$ ;/O$ /LQ(4/$ /$ %/0M(%8(0%:&$ N(M;/M((O*$ '/M$ N($ M8M$ 4:(OO&M6$
4(OO:4/O:/M$/$O(%8OM/Mn
%G$ @/N&$B/O?&$N($4O&M'&N/$B/O3&N/$N($;/L'&%:S0$=8($4(05&$;/O$/LQ(4/$/$%/0M(%8(0%:&$
'&$P:/'&%:S0$/$('$?(0/M%&L/$N($%8&'=8:(O&$N($M8M$N(O(%9/Mn
NG$ @/N&$B/O?&$N($&M:?:'&%:S0$/$:04(5O&%:S0$B/O3&N&n
(G$ @/N&$ B/O?&$ N($ ;O/;&5&0N&$ =8($ 4(05&$ %/?/$ B:0$ ;O/?/P(O$ /$ :0%:4&O$ &$ '&$
N:M%O:?:0&%:S0$O&%:&'$/$<40:%&$N:O:5:N&$%/04O&$(''/M-

?1.8(-&2+V
d/M$ ;8(L'/M$ ]$ '/M$ :0N:P:N8/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;(O4(0(%(O$ &$ 80&$ %/?80:N&N$
/$0&%:S0$:0NX5(0&6$N($%/0B/O?:N&N$%/0$'&M$4O&N:%:/0(M$]$%/M48?LO(M$N($'&$%/?80:N&N$/$

9 *
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

0&%:S0$N($=8($M($4O&4(-$R('$(Q(O%:%:/$N($(M($N(O(%9/$0/$;8(N($O(M8'4&O$N:M%O:?:0&%:S0$N($
0:05c0$4:;/-

?1.8(-&2+PN
d/M$;8(L'/M$:0NX5(0&M$0/$M(Of0$N(M;'&3&N/M$;/O$'&$B8(O3&$N($M8M$4:(OO&M$/$4(OO:4/O:/M-$T/$
M($;O/%(N(Of$&$0:05c0$4O&M'&N/$M:0$('$%/0*$M(04:?:(04/$':LO(6$;O(P:/$($:0B/O?&N/$N($'/M$
;8(L'/M$:0NX5(0&M$:04(O(M&N/M6$0:$M:0$80$&%8(ON/$;O(P:/$M/LO($80&$:0N(?0:3&%:S0$Q8M4&$]$
(=8:4&4:P&$]6$M:(?;O($=8($M(&$;/M:L'(6$'&$/;%:S0$N('$O(5O(M/-

?1.8(-&2+PP
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;O&%4:%&O$ ]$ O(P:4&':3&O$ M8M$ 4O&N:%:/0(M$ ]$
%/M48?LO(M$ %8'48O&'(M-$ ^''/$ :0%'8]($ ('$ N(O(%9/$ &$ ?&04(0(O6$ ;O/4(5(O$ ]$ N(M&OO/''&O$
'&M$ ?&0:B(M4&%:/0(M$ ;&M&N&M6$ ;O(M(04(M$ ]$ B848O&M$ N($ M8M$ %8'48O&M6$ %/?/$ '85&O(M$
&O=8(/'S5:%/M$($9:M4SO:%/M6$/LQ(4/M6$N:M(k/M6$%(O(?/0:&M6$4(%0/'/5X&M6$&O4(M$P:M8&'(M$($
:04(O;O(4&4:P&M$]$':4(O&48O&M-
1-$ d/M$ ^M4&N/M$ ;O/;/O%:/0&Of0$ O(;&O&%:S0$ ;/O$ ?(N:/$ N($ ?(%&0:M?/M$ (B:%&%(M6$ =8($
;/NOf0$:0%'8:O$'&$O(M4:48%:S06$(M4&L'(%:N/M$%/0Q804&?(04($%/0$'/M$;8(L'/M$:0NX5(0&M6$
O(M;(%4/$N($'/M$L:(0(M$%8'48O&'(M6$:04('(%48&'(M6$O(':5:/M/M$]$(M;:O:48&'(M$N($=8($9&]&0$
M:N/$;O:P&N/M$M:0$M8$%/0M(04:?:(04/$':LO(6$;O(P:/$($:0B/O?&N/$/$(0$P:/'&%:S0$N($M8M$
'(](M6$4O&N:%:/0(M$]$%/M48?LO(M-

?1.8(-&2+PM
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$?&0:B(M4&O6$;O&%4:%&O6$N(M&OO/''&O$]$(0M(0&O$
M8M$ 4O&N:%:/0(M6$ %/M48?LO(M$ ]$ %(O(?/0:&M$ (M;:O:48&'(M$ ]$ O(':5:/M&Mn$ &$ ?&04(0(O$ ]$
;O/4(5(O$M8M$'85&O(M$O(':5:/M/M$]$%8'48O&'(M$]$&$&%%(N(O$&$(''/M$;O:P&N&?(04(n$&$84:':3&O$
]$%/04O/'&O$M8M$/LQ(4/M$N($%8'4/6$]$&$/L4(0(O$'&$O(;&4O:&%:S0$N($M8M$O(M4/M$98?&0/M-
1-$ d/M$^M4&N/M$;O/%8O&Of0$B&%:':4&O$('$&%%(M/$]A/$'&$O(;&4O:&%:S0$N($/LQ(4/M$N($%8'4/$]$N($
O(M4/M$ 98?&0/M$ =8($ ;/M(&0$ ?(N:&04($ ?(%&0:M?/M$ Q8M4/M6$ 4O&0M;&O(04(M$ ]$ (B:%&%(M$
(M4&L'(%:N/M$%/0Q804&?(04($%/0$'/M$;8(L'/M$:0NX5(0&M$:04(O(M&N/M-

?1.8(-&2+PQ
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$O(P:4&':3&O6$84:':3&O6$B/?(04&O$]$4O&0M?:4:O$&$'&M$
5(0(O&%:/0(M$B848O&M$M8M$9:M4/O:&M6$:N:/?&M6$4O&N:%:/0(M$/O&'(M6$B:'/M/BX&M6$M:M4(?&M$N($
(M%O:48O&$]$':4(O&48O&M6$]$&$&4O:L8:O$0/?LO(M$&$M8M$%/?80:N&N(M6$'85&O(M$]$;(OM/0&M6$
&MX$%/?/$&$?&04(0(O'/M-
1-$$ d/M$^M4&N/M$&N/;4&Of0$?(N:N&M$(B:%&%(M$;&O&$&M(58O&O$'&$;O/4(%%:S0$N($(M($N(O(%9/$]$
4&?L:<0$;&O&$&M(58O&O$=8($'/M$;8(L'/M$:0NX5(0&M$;8(N&0$(04(0N(O$]$9&%(OM($(04(0N(O$
(0$ '&M$ &%48&%:/0(M$ ;/'X4:%&M6$ Q8OXN:%&M$ ]$ &N?:0:M4O&4:P&M6$ ;O/;/O%:/0&0N/$ ;&O&$ (''/6$
%8&0N/$M(&$0(%(M&O:/6$M(OP:%:/M$N($:04(O;O(4&%:S0$8$/4O/M$?(N:/M$&N(%8&N/M-

+ 10
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+PR
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ (M4&L'(%(O$ ]$ %/04O/'&O$ M8M$ M:M4(?&M$ ($
:0M4:48%:/0(M$N/%(04(M$=8($:?;&O4&0$(N8%&%:S0$(0$M8M$;O/;:/M$:N:/?&M6$(0$%/0M/0&0%:&$
%/0$M8M$?<4/N/M$%8'48O&'(M$N($(0M(k&03&$]$&;O(0N:3&Q(-
1-$ d/M$:0NX5(0&M6$(0$;&O4:%8'&O$'/M$0:k/M6$4:(0(0$N(O(%9/$&$4/N/M$'/M$0:P('(M$]$B/O?&M$N($
(N8%&%:S0$N('$^M4&N/$M:0$N:M%O:?:0&%:S0-
+-$ d/M$^M4&N/M$&N/;4&Of0$?(N:N&M$(B:%&%(M6$%/0Q804&?(04($%/0$'/M$;8(L'/M$:0NX5(0&M6$
;&O&$=8($'&M$;(OM/0&M$:0NX5(0&M6$(0$;&O4:%8'&O$'/M$0:k/M6$:0%'8:N/M$'/M$=8($P:P(0$B8(O&$
N($M8M$%/?80:N&N(M6$4(05&0$&%%(M/6$%8&0N/$M(&$;/M:L'(6$&$'&$(N8%&%:S0$(0$M8$;O/;:&$
%8'48O&$]$(0$M8$;O/;:/$:N:/?&-

?1.8(-&2+PS
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$=8($'&$N:50:N&N$]$N:P(O*$M:N&N$N($M8M$%8'48O&M6$
4O&N:%:/0(M6$9:M4/O:&M$]$&M;:O&%:/0(M$=8(N(0$N(L:N&?(04($O(B'(Q&N&M$(0$'&$(N8%&%:S0$
]$'&$:0B/O?&%:S0$;cL':%&-
1-$ d/M$^M4&N/M$&N/;4&Of0$?(N:N&M$(B:%&%(M6$(0$%/0M8'4&$]$%//;(*$O&%:S0$%/0$'/M$;8(L'/M$
:0NX5(0&M$ :04(O(M&N/M6$ ;&O&$ %/?L&4:O$ '/M$ ;O(*$ Q8:%:/M$ ]$ (':?:0&O$ '&$ N:M%O:?:0&%:S0$
]$;O/?/P(O$'&$4/'(O&0%:&6$'&$%/?;O(0M:S0$]$'&M$L8(0&M$O('&%:/0(M$(04O($'/M$;8(L'/M$
:0NX5(0&M$]$4/N/M$'/M$N(?fM$M(%4/O(M$N($'&$M/%:(N&N-

?1.8(-&2+PT
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$(M4&L'(%(O$M8M$;O/;:/M$?(N:/M$N($:0B/O?&%:S0$
(0$ M8M$ ;O/;:/M$ :N:/?&M$ ]$ &$ &%%(N(O$ &$ 4/N/M$ '/M$ N(?fM$ ?(N:/M$ N($ :0B/O?&%:S0$ 0/$
:0NX5(0&M$M:0$N:M%O:?:0&%:S0-
1-$ d/M$^M4&N/M$&N/;4&Of0$?(N:N&M$(B:%&%(M$;&O&$&M(58O&O$=8($'/M$?(N:/M$N($:0B/O?&%:S0$
;cL':%/M$ O(B'(Q(0$ N(L:N&?(04($ '&$ N:P(OM:N&N$ %8'48O&'$ :0NX5(0&-$ d/M$ ^M4&N/M6$ M:0$
;(OQ8:%:/$N($'&$/L':5&%:S0$N($&M(58O&O$;'(0&?(04($'&$':L(O4&N$N($(C;O(M:S06$N(L(Of0$
&'(04&O$ &$ '/M$ ?(N:/M$ N($ :0B/O?&%:S0$ ;O:P&N/M$ &$ O(B'(Q&O$ N(L:N&?(04($ '&$ N:P(OM:N&N$
%8'48O&'$:0NX5(0&-

?1.8(-&2+PO
!-$ d/M$:0N:P:N8/M$]$'/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$N:MBO84&O$;'(0&?(04($N($4/N/M$
'/M$N(O(%9/M$(M4&L'(%:N/M$(0$('$N(O(%9/$'&L/O&'$:04(O0&%:/0&'$]$0&%:/0&'$&;':%&L'(-
1-$ d/M$^M4&N/M6$(0$%/0M8'4&$]$%//;(O&%:S0$%/0$'/M$;8(L'/M$:0NX5(0&M6$4/?&Of0$?(N:N&M$
(M;(%XB:%&M$ ;&O&$ ;O/4(5(O$ &$ '/M$ 0:k/M$ :0NX5(0&M$ %/0*$ 4O&$ '&$ (C;'/4&%:S0$ (%/0S?:%&$
]$ %/04O&$ 4/N/$ 4O&L&Q/$ =8($ ;8(N&$ O(M8'4&O$ ;(':5O/M/$ /$ :04(OB(O:O$ (0$ '&$ (N8%&%:S0$ N($
'/M$ 0:k/M6$ /$ =8($ ;8(N&$ M(O$ ;(OQ8N:%:&'$ ;&O&$ '&$ M&'8N$ /$ ('$ N(M&OO/''/$ BXM:%/6$ ?(04&'6$
(M;:O:48&'6$?/O&'$/$M/%:&'$N($'/M$0:k/M6$4(0:(0N/$(0$%8(04&$M8$(M;(%:&'$P8'0(O&L:':N&N$
]$'&$:?;/O4&0%:&$N($'&$(N8%&%:S0$;&O&$(?;/N(O&O'/M-

11 "
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+-$ d&M$ ;(OM/0&M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ 0/$ M(O$ M/?(4:N&M$ &$ %/0N:%:/0(M$
N:M%O:?:0&4/O:&M$N($4O&L&Q/$]6$(04O($/4O&M$%/M&M6$N($(?;'(/$/$M&'&O:/-

?1.8(-&2+PU
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$;&O4:%:;&O$(0$'&$&N/;%:S0$N($N(%:M:/0(M$(0$'&M$
%8(M4:/0(M$=8($&B(%4(0$&$M8M$N(O(%9/M6$;/O$%/0N8%4/$N($O(;O(M(04&04(M$('(5:N/M$;/O$(''/M$
N($%/0B/O?:N&N$%/0$M8M$;O/;:/M$;O/%(N:?:(04/M6$&MX$%/?/$&$?&04(0(O$]$N(M&OO/''&O$M8M$
;O/;:&M$:0M4:48%:/0(M$N($&N/;%:S0$N($N(%:M:/0(M-

?1.8(-&2+PV
d/M$ ^M4&N/M$ %('(LO&Of0$ %/0M8'4&M$ ]$ %//;(O&Of0$ N($ L8(0&$ B($ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M$
:04(O(M&N/M$ ;/O$ ?(N:/$ N($ M8M$ :0M4:48%:/0(M$ O(;O(M(04&4:P&M$ &04(M$ N($ &N/;4&O$ ]$ &;':%&O$
?(N:N&M$'(5:M'&4:P&M$/$&N?:0:M4O&4:P&M$=8($'/M$&B(%4(06$&$B:0$N($/L4(0(O$M8$%/0M(04:?:(04/$
':LO(6$;O(P:/$($:0B/O?&N/-

?1.8(-&2+MN
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ?&04(0(O$ ]$ N(M&OO/''&O$ M8M$ M:M4(?&M$ /$
:0M4:48%:/0(M$ ;/'X4:%/M6$ (%/0S?:%/M$ ]$ M/%:&'(M6$ &$ N:MBO84&O$ N($ B/O?&$ M(58O&$ N($ M8M$
;O/;:/M$?(N:/M$N($M8LM:M4(0%:&$]$N(M&*$OO/''/6$]$&$N(N:%&OM($':LO(?(04($&$4/N&M$M8M$
&%4:P:N&N(M$(%/0S?:%&M$4O&N:%:/0&'(M$]$N($/4O/$4:;/-
1-$ d/M$;8(L'/M$:0NX5(0&M$N(M;/M(XN/M$N($M8M$?(N:/M$N($M8LM:M4(0%:&$]$N(M&OO/''/$4:(0(0$
N(O(%9/$&$80&$O(;&O&%:S0$Q8M4&$]$(=8:4&4:P&-

?1.8(-&2+MP
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/6$ M:0$ N:M%O:?:0&%:S06$ &'$ ?(Q/O&?:(04/$ N($ M8M$
%/0N:%:/0(M$ (%/0S?:%&M$ ]$ M/%:&'(M6$ (04O($ /4O&M$ (MB(O&M6$ (0$ '&$ (N8%&%:S06$ ('$ (?;'(/6$
'&$%&;&%:4&%:S0$]$('$O(&N:(M4O&*$?:(04/$;O/B(M:/0&'(M6$'&$P:P:(0N&6$('$M&0(&?:(04/6$'&$
M&'8N$]$'&$M(58O:N&N$M/%:&'-
1-$ d/M$^M4&N/M$&N/;4&Of0$?(N:N&M$(B:%&%(M$]6$%8&0N/$;O/%(N&6$?(N:N&M$(M;(%:&'(M$;&O&$
&M(58O&O$ ('$ ?(Q/O&?:(04/$ %/04:08/$ N($ M8M$ %/0N:%:/0(M$ (%/0S?:%&M$ ]$ M/%:&'(M-$ 7($
;O(M4&Of$;&O4:%8'&O$&4(0%:S0$&$'/M$N(O(%9/M$]$0(%(M:N&N(M$(M;(%:&'(M$N($'/M$&0%:&0/M6$
'&M$?8Q(O(M6$'/M$QSP(0(M6$'/M$0:k/M$]$'&M$;(OM/0&M$%/0$N:M%&;&%:N&N$:0NX5(0&M-
YO4X%8'/$11
!-$ ^0$ '&$ &;':%&%:S0$ N($ '&$ ;O(M(04($ R(%'&O&%:S0$ M($ ;O(M4&Of$ ;&O4:%8'&O$ &4(0%:S0$ &$ '/M$
N(O(%9/M$]$0(%(M:N&N(M$(M;(%:&'(M$N($'/M$&0%:&0/M6$'&M$?8Q(O(M6$'/M$QSP(0(M6$'/M$0:k/M$
]$'&M$;(OM/0&M$%/0$N:M%&;&%:N&N$:0NX*$5(0&M-
1-$ d/M$ ^M4&N/M$ &N/;4&Of0$ ?(N:N&M6$ %/0Q804&?(04($ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M6$ ;&O&$
&M(58O&O$=8($'&M$?8Q(O(M$]$'/M$0:k/M$:0NX5(0&M$5/%(0$N($;O/4(%%:S0$]$5&O&04X&M$;'(0&M$
%/04O&$4/N&M$'&M$B/O?&M$N($P:/'(0%:&$]$N:M%O:?:0&%:S0-

& 12
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+MQ
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$N(4(O?:0&O$]$&$('&L/O&O$;O:/O:N&N(M$]$(M4O&4(5:&M$
;&O&$('$(Q(O%:%:/$N($M8$N(O(%9/$&'$N(M&OO/*$''/-$^0$;&O4:%8'&O6$'/M$;8(L'/M$:0NX5(0&M$4:(0(0$
N(O(%9/$ &$ ;&O4:%:;&O$ &%4:P&?(04($ (0$ '&$ ('&L/O&%:S0$ ]$ N(4(O?:0&%:S0$ N($ '/M$ ;O/5O&?&M$
N($M&'8N6$P:P:(0N&$]$N(?fM$;O/5O&?&M$(%/0S?:%/M$]$M/%:&'(M$=8($'(M$%/0%:(O0&0$]6$(0$'/$
;/M:L'(6$&$&N?:0:M4O&O$(M/M$;O/5O&?&M$?(N:&04($M8M$;O/;:&M$:0M4:48%:/0(M-

?1.8(-&2+MR
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ M8M$ ;O/;:&M$ ?(N:%:0&M$ 4O&N:%:/0&'(M$ ]$ &$
?&04(0(O$M8M$;Of%4:%&M$N($M&'8N6$:0%'8:N&$'&$%/0M(OP&%:S0$N($M8M$;'&04&M$?(N:%:0&'(M6$
&0:?&'(M$]$?:0(O&'(M$N($:04(O<M$P:4&'-$d&M$;(OM/0&M$:0NX5(0&M$4&?L:<0$4:(0(0$N(O(%9/$
N($&%%(M/6$M:0$N:M%O:?:0&%:S0$&'580&6$&$4/N/M$'/M$M(OP:%:/M$M/%:&'(M$]$N($M&'8N-
1-$ d&M$ ;(OM/0&M$ :0NX5(0&M$ 4:(0(0$ :58&'$ N(O(%9/$ &$ N:MBO84&O$ N('$ 0:P('$ ?fM$ &'4/$ ;/M:L'($
N($M&'8N$BXM:%&$]$?(04&'-$d/M$^M4&N/M$4/?&Of0$'&M$?(N:N&M$=8($M(&0$0(%(M&O:&M$;&O&$
'/5O&O$;O/5O(M:P&?(04($=8($(M4($N(O(%9/$M($9&5&$;'(0&?(04($(B(%4:P/-

?1.8(-&2+MS
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$?&04(0(O$]$B/O4&'(%(O$M8$;O/;:&$O('&%:S0$(M;:O:48&'$
%/0$'&M$4:(OO&M6$4(OO:4/O:/M6$&58&M6$?&O(M$%/M4(O/M$]$/4O/M$O(%8OM/M$=8($4O&N:%:/0&'?(04($
9&0$;/M(XN/$8$/%8;&N/$]$84:':3&N/$]$&$&M8?:O$'&M$O(M;/0M&L:':N&N(M$=8($&$(M($O(M;(%4/$'(M$
:0%8?L(0$;&O&$%/0$'&M$5(0(O&%:/0(M$P(0:N(O&M-

?1.8(-&2+MT
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ '&M$ 4:(OO&M6$ 4(OO:4/O:/M$ ]$ O(%8OM/M$ =8($
4O&N:%:/0&'?(04($9&0$;/M(XN/6$/%8;&N/$/$84:':3&N/$/$&N=8:O:N/-
1-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;/M((O6$ 84:':3&O6$ N(M&OO/''&O$ ]$ %/04O/'&O$ '&M$
4:(OO&M6$4(OO:4/O:/M$]$O(%8OM/M$=8($;/M((0$(0$O&3S0$N($'&$;O/;:(N&N$4O&N:%:/0&'$8$/4O/$
4:;/$4O&N:%:/0&'$N($/%8;&*$%:S0$/$84:':3&%:S06$&MX$%/?/$&=8(''/M$=8($9&]&0$&N=8:O:N/$
N($/4O&$B/O?&-
+-$ d/M$ ^M4&N/M$ &M(58O&Of0$ ('$ O(%/0/%:?:(04/$ ]$ ;O/4(%%:S0$ Q8OXN:%/M$ N($ (M&M$ 4:(OO&M6$
4(OO:4/O:/M$]$O(%8OM/M-$R:%9/$O(%/0/%:?:(04/$O(M*$;(4&Of$N(L:N&?(04($'&M$%/M48?LO(M6$
'&M$4O&N:%:/0(M$]$'/M$M:M4(?&M$N($4(0(0%:&$N($'&$4:(OO&$N($'/M$;8(L'/M$:0NX5(0&M$N($=8($
M($4O&4(-$

?1.8(-&2+MO
d/M$ ^M4&N/M$ (M4&L'(%(Of0$ ]$ &;':%&Of06$ %/0Q804&?(04($ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M$
;(O4:0(04(M6$ 80$ ;O/%(M/$ (=8:4&4:P/6$ :0N(;(0N:(04(6$ :?;&O%:&'6$ &L:(O4/$ ]$ 4O&0M;&O(04(6$
(0$ ('$ =8($ M($ O(%/0/3%&0$ N(L:N&?(04($ '&M$ '(](M6$ 4O&N:%:/0(M6$ %/M48?LO(M$ ]$ M:M4(?&M$ N($
4(0(0%:&$N($'&$4:(OO&$N($'/M$;8(L'/M$:0NX5(0&M6$;&O&$O(%/0/%(O$]$&NQ8N:%&O$'/M$N(O(%9/M$N($
'/M$;8(L'/M$:0NX5(0&M$(0$O('&%:S0$%/0$M8M$4:(OO&M6$4(OO:4/O:/M$]$O(%8OM/M6$%/?;O(0N:N/M$

13 
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

&=8(''/M$=8($4O&N:%:/0&'?(04($9&0$;/M(XN/$8$/%8;&N/$/$84:':3&N/-$d/M$;8(L'/M$:0NX5(0&M$
4(0NOf0$N(O(%9/$&$;&O4:%:;&O$(0$(M4($;O/%(M/-

?1.8(-&2+MU
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$'&$O(;&O&%:S06$;/O$?(N:/M$=8($;8(N(0$:0%'8:O$
'&$ O(M4:48%:S0$ /6$ %8&0N/$ (''/$ 0/$ M(&$ ;/M:L'(6$ 80&$ :0N(?0:3&%:S0$ Q8M4&$ ]$ (=8:4&4:P&$
;/O$'&M$4:(OO&M6$'/M$4(OO:4/O:/M$]$'/M$O(%8OM/M$=8($4O&N:%:/0&'?(04($9&]&0$;/M(XN/$8$
/%8;&N/$ /$84:':3&N/$]$=8($9&]&0$M:N/$%/0B:M%&N/M6$4/?&N/M6$/%8;&N/M6$84:':3&N/M$/$
N&k&N/M$M:0$M8$%/0M(04:?:(04/$':LO(6$;O(P:/$($:0B/O?&N/-
1-$ 7&'P/$ =8($ '/M$ ;8(L'/M$ :04(O(M&N/M$ 9&]&0$ %/0P(0:N/$ ':LO(?(04($ (0$ /4O&$ %/M&6$ '&$
:0N(?0:3&%:S0$%/0M:M4:Of$(0$4:(OO&M6$4(OO:4/O:/M$]$O(%8OM/M$N($:58&'$%&':N&N6$(C4(0M:S0$
]$%/0N:%:S0$Q8OXN:%&$/$(0$80&$:0N(?0:3&%:S0$?/0(4&O:&$8$/4O&$O(;&O&%:S0$&N(%8&N&-

?1.8(-&2+MV
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ '&$ %/0M(OP&%:S0$ ]$ ;O/4(%%:S0$ N('$ ?(N:/$
&?L:(04($ ]$ N($ '&$ %&;&%:N&N$ ;O/N8%4:P&$ N($ M8M$ 4:(OO&M$ /$ 4(OO:4/O:/M$ ]$ O(%8OM/M-$ d/M$
^M4&N/M$N(L(Of0$(M4&L'(%(O$]$(Q(%84&O$;O/5O&?&M$N($&M:M4(0%:&$&$'/M$;8(L'/M$:0NX5(0&M$
;&O&$&M(58O&O$(M&$%/0M(OP&%:S0$]$;O/4(%%:S06$M:0$N:M%O:?:0&%:S0-
1-$ d/M$ ^M4&N/M$ &N/;4&Of0$ ?(N:N&M$ (B:%&%(M$ ;&O&$ &M(58O&O$ =8($ 0/$ M($ &'?&%(0(0$ 0:$
(':?:0(0$?&4(O:&'(M$;(':5O/M/M$(0$'&M$4:(OO&M$/$4(OO:4/O:/M$N($'/M$;8(L'/M$:0NX5(0&M$
M:0$M8$%/0M(04:?:(04/$':LO(6$;O(P:/$($:0B/O?&N/-
+-$ d/M$^M4&N/M$4&?L:<0$&N/;4&Of0$?(N:N&M$(B:%&%(M$;&O&$&M(58O&O6$M(5c0$M(&$0(%(M&O:/6$
=8($M($&;':=8(0$N(L:N&?(04($;O/5O&?&M$N($%/04O/'6$?&04(0:?:(04/$]$O(M4&L'(%:?:(04/$
N($'&$M&'8N$N($'/M$;8(L'/M$:0NX5(0&M$&B(%4&N/M$;/O$(M/M$?&4(O:&'(M6$;O/5O&?&M$=8($
M(Of0$('&L/O&N/M$]$(Q(%84&N/M$;/O$(M/M$;8(L'/M-

?1.8(-&2+QN
!-$ T/$M($N(M&OO/''&Of0$&%4:P:N&N(M$?:':4&O(M$(0$'&M$4:(OO&M$/$4(OO:4/O:/M$N($'/M$;8(L'/M$
:0NX5(0&M6$&$?(0/M$=8($'/$Q8M4:B:=8($80&$O&3S0$N($:04(O<M$;cL':%/$;(O4:0(04($/$=8($M($
9&]&$&%/ON&N/$':LO(?(04($%/0$'/M$;8(L'/M$:0NX5(0&M$:04(O(M&N/M6$/$=8($<M4/M$'/$9&]&0$
M/':%:4&N/-
1-$ d/M$ ^M4&N/M$ %('(LO&Of0$ %/0M8'4&M$ (B:%&%(M$ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M$ :04(O(M&N/M6$
;/O$ '/M$ ;O/%(N:?:(04/M$ &;O/;:&N/M$ ]$ (0$ ;&O4:%8'&O$ ;/O$ ?(N:/$ N($ M8M$ :0M4:48%:/0(M$
O(;O(M(04&4:P&M6$&04(M$N($84:':3&O$M8M$4:(OO&M$/$4(OO:4/O:/M$;&O&$&%4:P:N&N(M$?:':4&O(M-

?1.8(-&2+QP
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$?&04(0(O6$%/04O/'&O6$;O/4(5(O$]$N(M&OO/''&O$
M8$;&4O:?/0:/$%8'48O&'6$M8M$%/0/%:?:(04/M$4O&N:%:/0&'(M6$M8M$(C;O(M:/0(M$%8'48O&'(M$
4O&N:%:/0&'(M$ ]$ '&M$ ?&0:B(M*$ 4&%:/0(M$ N($ M8M$ %:(0%:&M6$ 4(%0/'/5X&M$ ]$ %8'48O&M6$
%/?;O(0N:N/M$ '/M$ O(%8OM/M$ 98?&0/M$ ]$ 5(0<4:%/M6$ '&M$ M(?:''&M6$ '&M$ ?(N:%:0&M6$ ('$

# 14
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

%/0/%:?:(04/$ N($ '&M$ ;O/;:(N&N(M$ N($ '&$ B&80&$ ]$ '&$ B'/O&6$ '&M$ 4O&N:%:/0(M$ /O&'(M6$ '&M$
':4(O&48O&M6$ '/M$ N:M(k/M6$ '/M$ N(;/O4(M$ ]$ Q8(5/M$ 4O&N:%:/0&'(M6$ ]$ '&M$ &O4(M$ P:M8&'(M$ ($
:04(O;O(4&4:P&M-$@&?L:<0$4:(0(0$N(O(%9/$&$?&04(0(O6$%/04O/'&O6$;O/4(5(O$]$N(M&OO/''&O$
M8$;O/;:(N&N$:04('(%48&'$N($N:%9/$;&4O:?/0:/$%8'48O&'6$M8M$%/0/%:?:(04/M$4O&N:%:/0&'(M$
]$M8M$(C;O(M:/0(M$%8'48O&'(M$4O&N:%:/0&'(M-
1-$ Z/0Q804&?(04($ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M6$ '/M$ ^M4&N/M$ &N/;4&Of0$ ?(N:N&M$ (B:%&%(M$
;&O&$O(%/0/%(O$]$;O/4(5(O$('$(Q(O%:%:/$N($(M4/M$N(O(%9/M-

?1.8(-&2+QM
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ N(4(O?:0&O$ ]$ ('&L/O&O$ '&M$ ;O:/O:N&N(M$ ]$
(M4O&4(5:&M$ ;&O&$ ('$ N(M&OO/''/$ /$ '&$ 84:':3&%:S0$ N($ M8M$ 4:(OO&M$ /$ 4(OO:4/O:/M$ ]$ /4O/M$
O(%8OM/M-
1-$ d/M$^M4&N/M$%('(LO&Of0$%/0M8'4&M$]$%//;(O&Of0$N($L8(0&$B($%/0$'/M$;8(L'/M$:0NX5(0&M$
:04(O(M&N/M$ ;/O$ %/0N8%4/$ N($ M8M$ ;O/;:&M$ :0M4:48%:/0(M$ O(;O(M(04&4:P&M$ &$ B:0$ N($
/L4(0(O$ M8$ %/0M(04:?:(04/$ ':LO($ ($ :0B/O?&N/$ &04(M$ N($ &;O/L&O$ %8&'=8:(O$ ;O/](%4/$
=8($&B(%4($&$M8M$4:(OO&M$/$4(OO:4/O:/M$]$/4O/M$O(%8OM/M6$;&O4:%8'&O?(04($(0$O('&%:S0$%/0$
('$N(M&OO/''/6$'&$84:':3&%:S0$/$'&$(C;'/4&%:S0$N($O(%8OM/M$?:0(O&'(M6$9XNO:%/M$/$N($/4O/$
4:;/-
+-$ d/M$^M4&N/M$;O/P((Of0$?(%&0:M?/M$(B:%&%(M$;&O&$'&$O(;&O&%:S0$Q8M4&$]$(=8:4&4:P&$;/O$
%8&'=8:(O&$N($(M&M$&%4:P:N&N(M6$]$M($&N/;4&Of0$?(N:N&M$&N(%8&N&M$;&O&$?:4:5&O$'&M$
%/0M(%8(0%:&M$0/%:P&M$N($/ON(0$&?L:(04&'6$(%/0S?:%/6$M/%:&'6$%8'48O&'$/$(M;:O:48&'-

?1.8(-&2+QQ
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$N(4(O?:0&O$M8$;O/;:&$:N(04:N&N$/$;(O4(0(0%:&$
%/0B/O?($ &$ M8M$ %/M48?LO(M$ ]$ 4O&N:%:/0(M-$ ^''/$ 0/$ ?(0/M%&L&$ ('$ N(O(%9/$ N($ '&M$
;(OM/0&M$:0NX5(0&M$&$/L4(0(O$'&$%:8N&N&0X&$N($'/M$^M4&N/M$(0$=8($P:P(0-
1-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ N(4(O?:0&O$ '&M$ (M4O8%48O&M$ ]$ &$ ('(5:O$ '&$
%/?;/M:%:S0$N($M8M$:0M4:48%:/0(M$N($%/0B/O?:N&N$%/0$M8M$;O/;:/M$;O/%(N:?:(04/M-

?1.8(-&2+QR
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$;O/?/P(O6$N(M&OO/''&O$]$?&04(0(O$M8M$(M4O8%48O&M$
:0M4:48%:/0&'(M$ ]$ M8M$ ;O/;:&M$ %/M48?LO(M6$ (M;:O:48&':N&N6$ 4O&N:%:/0(M6$ ;O/%(N:?:(04/M6$
;Of%4:%&M$ ]6$ %8&0N/$ (C:M4&06$ %/M48?LO(M$ /$ M:M4(?&M$ Q8OXN:%/M6$ N($ %/0B/O?:N&N$ %/0$ '&M$
0/O?&M$:04(O0&%:/0&'(M$N($N(O(%9/M$98?&0/M-

?1.8(-&2+QS
d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ N(4(O?:0&O$ '&M$ O(M;/0M&L:':N&N(M$ N($ '/M$
:0N:P:N8/M$;&O&$%/0$M8M$%/?80:N&N(M-

15 $
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

?1.8(-&2+QT
!-$ d/M$ ;8(L'/M$ :0NX5(0&M6$ (0$ ;&O4:%8'&O$ '/M$ =8($ (M4f0$ N:P:N:N/M$ ;/O$ BO/04(O&M$
:04(O0&%:/0&'(M6$4:(0(0$N(O(%9/$&$?&04(0(O$]$N(M&OO/''&O$'/M$%/04&%4/M6$'&M$O('&%:/0(M$
]$ '&$ %//;(O&%:S06$ :0%'8:N&M$ '&M$ &%4:P:N&N(M$ N($ %&Of%4(O$ (M;:O:48&'6$ %8'48O&'6$ ;/'X4:%/6$
(%/0S?:%/$]$M/%:&'6$%/0$M8M$;O/;:/M$?:(?LO/M6$&MX$%/?/$%/0$/4O/M$;8(L'/M6$&$4O&P<M$
N($'&M$BO/04(O&M-
1-$ d/M$^M4&N/M6$(0$%/0M8'4&$]$%//;(O&%:S0$%/0$'/M$;8(L'/M$:0NX5(0&M6$&N/;4&Of0$?(N:N&M$
(B:%&%(M$;&O&$B&%:':4&O$('$(Q(O%:%:/$]$&M(58O&O$'&$&;':%&%:S0$N($(M4($N(O(%9/-

?1.8(-&2+QO
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$=8($'/M$4O&4&N/M6$&%8(ON/M$]$/4O/M$&OO(5'/M$
%/0M4O8%4:P/M$ %/0%(O4&N/M$ %/0$ '/M$ ^M4&N/M$ /$ M8M$ M8%(M/O(M$ M(&0$ O(%/0/%:N/M6$
/LM(OP&N/M$]$&;':%&N/M$]$&$=8($'/M$^M4&N/M$&%&4(0$]$O(M;(4(0$(M/M$4O&4&N/M6$&%8(ON/M$
]$/4O/M$&OO(5'/M$%/0M4O8%4:P/M-
1-$ T&N&$N($'/$%/04(0:N/$(0$'&$;O(M(04($R(%'&O&%:S0$M($:04(O;O(4&Of$(0$('$M(04:N/$N($=8($
?(0/M%&L&$/$M8;O:?($'/M$N(O(%9/M$N($'/M$;8(L'/M$:0NX5(0&M$=8($B:58O(0$(0$4O&4&N/M6$
&%8(ON/M$]$/4O/M$&OO(5'/M$%/0M4O8%4:P/M-

?1.8(-&2+QU
d/M$^M4&N/M6$(0$%/0M8'4&$]$%//;(O&%:S0$%/0$'/M$;8(L'/M$:0NX5(0&M6$&N/;4&Of0$'&M$?(N:N&M$
&;O/;:&N&M6$ :0%'8:N&M$ ?(N:N&M$ '(5:M'&4:P&M6$ ;&O&$ &'%&03&O$ '/M$ B:0(M$ N($ '&$ ;O(M(04($
R(%'&O&%:S0-

?1.8(-&2+QV
d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ O(%:L:O$ &M:M4(0%:&$ B:0&0%:(O&$ ]$ 4<%0:%&$ N($ '/M$
^M4&N/M$]$;/O$%/0N8%4/$N($'&$%//;(O&%:S0$:04(O0&%:/0&'$;&O&$('$N:MBO84($N($'/M$N(O(%9/M$
(080%:&N/M$(0$'&$;O(M(04($R(%'&O&%:S0-

?1.8(-&2+RN
d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;O/%(N:?:(04/M$ (=8:4&4:P/M$ ]$ Q8M4/M$ ;&O&$ ('$
&OO(5'/$ N($ %/0B':%4/M$ ]$ %/04O/P(OM:&M$ %/0$ '/M$ ^M4&*$ N/M$ 8$ /4O&M$ ;&O4(M6$ ]$ &$ 80&$ ;O/04&$
N(%:M:S0$M/LO($(M&M$%/04O/P(OM:&M6$&MX$%/?/$&$80&$O(;&O&%:S0$(B(%4:P&$N($4/N&$'(M:S0$N($
M8M$ N(O(%9/M$ :0N:P:N8&'(M$ ]$ %/'(%4:P/M-$ ^0$ (M&M$ N(%:M:/0(M$ M($ 4(0NOf0$ N(L:N&?(04($ (0$
%/0M:N(O&%:S0$'&M$%/M48?LO(M6$'&M$4O&N:%:/0(M6$'&M$0/O?&M$]$'/M$M:M4(?&M$Q8OXN:%/M$N($'/M$
;8(L'/M$:0NX5(0&M$:04(O(M&N/M$]$'&M$0/O?&M$:04(O0&%:/0&'(M$N($N(O(%9/M$98?&0/M-

?1.8(-&2+RP
d/M$ SO5&0/M$ ]$ /O5&0:M?/M$ (M;(%:&':3&N/M$ N('$ M:M4(?&$ N($ '&M$ T&%:/0(M$ U0:N&M$ ]$ /4O&M$
/O5&0:3&%:/0(M$ :04(O58L(O0&?(04&'(M$ %/04O:L8:Of0$ &$ '&$ ;'(0&$ &;':%&%:S0$ N($ '&M$
N:M;/M:%:/0(M$N($'&$;O(M(04($R(%'&O&%:S0$?(N:&04($'&$?/P:':3&%:S06$(04O($/4O&M$%/M&M6$N($

' 16
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

'&$%//;(O&%:S0$B:0&0%:(O&$]$'&$&M:M4(0%:&$4<%0:%&-$7($(M4&L'(%(Of0$'/M$?(N:/M$N($&M(58O&O$
'&$;&O4:%:;&%:S0$N($'/M$;8(L'/M$:0NX5(0&M$(0$O('&%:S0$%/0$'/M$&M804/M$=8($'(M$%/0%:(O0&0-

?1.8(-&2+RM
d&M$ T&%:/0(M$ U0:N&M6$ M8M$ SO5&0/M6$ :0%'8:N/$ ('$ _/O/$ V(O?&0(04($ ;&O&$ '&M$ Z8(M4:/0(M$
W0NX5(0&M6$ ]$ '/M$ /O5&0:M?/M$ (M;(%:&':3&N/M6$ :0%'8M/$ &$ 0:P('$ '/%&'6$ &MX$ %/?/$ '/M$ ^M4&N/M6$
;O/?/P(Of0$('$O(M;(4/$]$'&$;'(0&$&;':%&%:S0$N($'&M$N:M;/M:%:/0(M$N($'&$;O(M(04($R(%'&O&%:S0$
]$P('&Of0$;/O$M8$(B:%&%:&-

?1.8(-&2+RQ
d/M$ N(O(%9/M$O(%/0/%:N/M$(0$ '&$ ;O(M(04($ R(%'&O&%:S0$ %/0M4:48](0$ '&M$ 0/O?&M$ ?X0:?&M$
;&O&$'&$M8;(OP:P(0%:&6$'&$N:50:N&N$]$('$L:(0(M4&O$N($'/M$;8(L'/M$:0NX5(0&M$N('$?80N/-

?1.8(-&2+RR
@/N/M$'/M$N(O(%9/M$]$'&M$':L(O4&N(M$O(%/0/%:N/M$(0$'&$;O(M(04($R(%'&O&%:S0$M($5&O&04:3&0$
;/O$:58&'$&'$9/?LO($]$&$'&$?8Q(O$:0NX5(0&M-

?1.8(-&2+RS
T&N&$ N($ '/$ %/04(0:N/$ (0$ '&$ ;O(M(04($ R(%'&O&%:S0$ M($ :04(O;O(4&Of$ (0$ ('$ M(04:N/$ N($ =8($
?(0/M%&L&$/$M8;O:?($'/M$N(O(%9/M$=8($'/M$;8(L'/M$:0NX5(0&M$4:(0(0$(0$'&$&%48&':N&N$/$
;8(N&0$&N=8:O:O$(0$('$B848O/-

?1.8(-&2+RT
!-$ T&N&$ N($ '/$ %/04(0:N/$ (0$ '&$ ;O(M(04($ R(%'&O&%:S0$ M($ :04(O;O(4&Of$ (0$ ('$ M(04:N/$ N($
=8($ %/0B:(O($ &$ 80$ ^M4&N/6$ ;8(L'/6$ 5O8;/$ /$ ;(OM/0&$ N(O(%9/$ &'580/$ &$ ;&O4:%:;&O$ (0$
80&$&%4:P:N&N$/$O(&':3&O$80$&%4/$%/04O&O:/M$&$'&$Z&O4&$N($'&M$T&%:/0(M$U0:N&M6$0:$M($
(04(0N(Of$(0$('$M(04:N/$N($=8($&84/O:3&$/$&':(04&$&%%:S0$&'580&$(0%&?:0&N&$&$=8(*$
LO&04&O$ /$ ?(0/M%&L&O6$ 4/4&'$ /$ ;&O%:&'?(04(6$ '&$ :04(5O:N&N$ 4(OO:4/O:&'$ /$ '&$ 80:N&N$
;/'X4:%&$N($^M4&N/M$M/L(O&0/M$($:0N(;(0N:(04(M-
1-$ ^0$('$(Q(O%:%:/$N($'/M$N(O(%9/M$(080%:&N/M$(0$'&$;O(M(04($R(%'&O&%:S06$M($O(M;(4&Of0$
'/M$N(O(%9/M$98?&0/M$]$'&M$':L(O4&N(M$B80N&*$?(04&'(M$N($4/N/M-$^'$(Q(O%:%:/$N($'/M$
N(O(%9/M$(M4&L'(%:N/M$(0$'&$;O(M(04($R(%'&O&%:S0$(M4&Of$M8Q(4/$(C%'8M:P&?(04($&$'&M$
':?:4&%:/0(M$N(4(O?:0&N&M$;/O$'&$'(]$]$%/0$&OO(5'/$&$'&M$/L':5&%:/0(M$:04(O*$0&%:/0&'(M$
(0$ ?&4(O:&$ N($ N(O(%9/M$ 98?&0/M-$ ^M&M$ ':?:4&%:/0(M$ 0/$ M(Of0$ N:M%O:?:0&4/O:&M$ ]$
M(Of0$MS'/$'&M$(M4O:%4&?(04($0(%(M&O:&M$;&O&$5&O&04:3&O$('$O(%/0/%:?:(04/$]$O(M;(4/$
N(L:N/M$&$'/M$N(O(%9/M$]$'&M$':L(O4&N(M$N($'/M$N(?fM$]$;&O&$M&4:MB&%(O$'&M$Q8M4&M$]$?fM$
&;O(?:&04(M$0(%(M:N&N(M$N($80&$M/%:(N&N$N(?/%Of4:%&-
+-$ d&M$N:M;/M:%:/0(M$(080%:&N&M$(0$'&$;O(M(04($R(%'&O&%:S0$M($:04(O;O(4&Of0$%/0$&OO(5'/$
&$'/M$;O:0%:;:/M$N($'&$Q8M4:%:&6$'&$N(?/%O&%:&6$('$O(M;(4/$N($'/M$N(O(%9/M$98?&0/M6$'&$
:58&'N&N6$'&$0/$N:M%O:?:0&%:S06$'&$L8(0&$5/L(O0&03&$]$'&$L8(0&$B(-

17 %
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+
4"(&'1'($)*+?/"1$('*'+%231"+&2%+
4"1"(52%+6"+&2%+7-"3&2%+0*68#"*'%+
<MNPT@

B>990WL+7G0X>G?A+7-"3&2%+0*68#"*'%Y+
Z/3$.2+6"+';&$('($)*+J+'&('*("%
?1.8(-&2+P
!-$ d&$R(%'&O&%:S0$Y?(O:%&0&$M/LO($'/M$R(O(%9/M$N($'/M$V8(L'/M$W0NX5(0&M$M($&;':%&$&$'/M$
;8(L'/M$:0NX5(0&M$N($'&M$Y?<O:%&M-
1-$ d&$ &84/:N(04:B:%&%:S0$ %/?/$ ;8(L'/M$ :0NX5(0&M$ M(Of$ 80$ %O:4(O:/$ B80N&?(04&'$ ;&O&$
N(4(O?:0&O$ &$ =8:(0(M$ M($ &;':%&$ '&$ ;O(M(04($ R(%'&O&%:S0-$ d/M$ ^M4&N/M$ O(M;(4&Of0$ ('$
N(O(%9/$ &$ N:%9&$ &84/:N(04:B:%&%:S0$ %/?/$ :0NX5(0&$ (0$ B/O?&$ :0N:P:N8&'$ /$ %/'(%4:P&6$
%/0B/O?($&$'&M$;Of%4:%&M$($:0M4:48%:/0(M$;O/;:&M$N($%&N&$;8(L'/$:0NX5(0&-

?1.8(-&2+M
d/M$^M4&N/M$O(%/0/%(0$]$O(M;(4&0$('$%&Of%4(O$;'8O:%8'48O&'$]$?8'4:':05e($N($'/M$;8(L'/M$
:0NX5(0&M6$=8:(0(M$B/O?&0$;&O4($:04(5O&'$N($M8M$M/%:(N&N(M-

 18
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+Q
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$'&$':LO($N(4(O?:0&%:S0-$^0$P:O48N$N($(M($N(O(%9/$
N(4(O?:0&0$ ':LO(?(04($ M8$ %/0N:%:S0$ ;/'X4:%&$ ]$ ;(OM:58(0$ ':LO(?(04($ M8$ N(M&OO/''/$
(%/0S?:%/6$M/%:&'$]$%8'48O&'-

?1.8(-&2+R
T&N&$ N($ '/$ %/04(0:N/$ (0$ '&$ ;O(M(04($ R(%'&O&%:S0$ M($ :04(O;O(4&Of$ (0$ ('$ M(04:N/$ N($ =8($
%/0B:(O($&$80$^M4&N/6$;8(L'/6$5O8;/$/$;(OM/0&$N(O(%9/$&'580/$&$;&O4:%:;&O$(0$80&$&%4:P:N&N$
/$O(&':3&O$80$&%4/$%/04O&O:/M$&$'&$Z&O4&$N($'&$\O5&0:3&%:S0$N($'/M$^M4&N/M$Y?(O:%&0/M$]$
&$'&$Z&O4&$N($'&M$T&%:/0(M$U0:N&M6$0:$M($(04(0N(Of$(0$('$M(04:N/$N($=8($&84/O:3&$/$&':(04&$
&%%:S0$&'580&$(0%&?:0&N&$&$$=8(LO&04&O$/$?(0/M%&L&O6$4/4&'$/$;&O%:&'?(04(6$'&$:04(5O:N&N$
4(OO:4/O:&'$/$'&$80:N&N$;/'X4:%&$N($^M4&N/M$M/L(O&0/M$($:0N(;(0N:(04(M-

B>990WL+B>,FL4?A+4"1"(52%+I-/'*2%+J+4"1"(52%+92&"(.$K2%
?1.8(-&2+SY+7&"*'+K$#"*($'+6"+&2%+6"1"(52%+5-/'*2%
d/M$;8(L'/M$]$'&M$;(OM/0&M$:0NX5(0&M$4:(0(0$N(O(%9/$&'$5/%($;'(0/$N($4/N/M$'/M$N(O(%9/M$
98?&0/M$]$':L(O4&N(M$B80N&?(04&'(M6$O(%/0/%:N/M$(0$'&$Z&O4&$N($'&M$T&%:/0(M$U0:N&M6$'&$
Z&O4&$N($'&$\O5&0:3&%:S0$N($'/M$^M4&N/M$Y?(O:%&0/M$]$(0$('$N(O(%9/$:04(O0&%:/0&'$N($'/M$
N(O(%9/M$98?&0/M-

?1.8(-&2+TY+4"1"(52%+(2&"(.$K2%
d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/M$ %/'(%4:P/M$ :0N:M;(0M&L'(M$ ;&O&$ M8$ (C:M4(0%:&6$
L:(0(M4&O$ ]$ N(M&OO/''/$ :04(5O&'$ %/?/$ ;8(L'/M-$ ^0$ (M4($ M(04:N/6$ '/M$ ^M4&N/M$ O(%/0/%(0$
]$O(M;(4&06$('$N(O(%9/$N($'/M$;8(L'/M$:0NX5(0&M$&$M8$&%48&O$%/'(%4:P/n$&$M8M$M:M4(?&M$/$
:0M4:48%:/0(M$Q8OXN:%/M6$M/%:&'(M6$;/'X4:%/M$]$(%/0S?:%/Mn$&$M8M$;O/;:&M$%8'48O&Mn$&$;O/B(M&O$
]$;O&%4:%&O$M8M$%O((0%:&M$(M;:O:48&'(Mn$&$8M&O$M8M$;O/;:&M$'(058&M$($:N:/?&Mn$]$&$M8M$4:(OO&M6$
4(OO:4/O:/M$]$O(%8OM/M-$d/M$^M4&N/M$;O/?/P(Of0$%/0$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&$N($
'/M$;8(L'/M$:0NX5(0&M$'&$%/(C:M4(0%:&$&O?S0:%&$N($'/M$N(O(%9/M$]$M:M4(?&M$N($'/M$5O8;/M$
;/L'&%:/0&'(M$]$%8'48O&M-

?1.8(-&2+TY+0#-'&6'6+6"+#:*"12
!-$ d&M$ ?8Q(O(M$ :0NX5(0&M$ 4:(0(0$ ('$ N(O(%9/$ &'$ O(%/0/%:?:(04/6$ ;O/4(%%:S0$ ]$ 5/%($ N($
4/N/M$ '/M$ N(O(%9/M$ 98?&0/M$ ]$ ':L(O4&N(M$ B80N&?(04&'(M$ %/04(0:N/M$ (0$ ('$ N(O(%9/$
:04(O0&%:/0&'6$':LO(M$N($4/N&M$'&M$B/O?&M$N($N:M%O:?:0&%:S0-$
1-$ d/M$^M4&N/M$O(%/0/%(0$=8($'&$P:/'(0%:&$%/04O&$'&M$;(OM/0&M$]$'/M$;8(L'/M$:0NX5(0&M6$
;&O4:%8'&O?(04($'&M$?8Q(O(M6$:?;:N($/$&08'&$('$5/%($N($4/N/M$'/M$N(O(%9/M$98?&0/M$]$
':L(O4&N(M$B80N&?(04&'(M-
+-$ d/M$^M4&N/M$&N/;4&Of0$'&M$?(N:N&M$0(%(M&O:&M6$(0$%/0Q804/$%/0$'/M$;8(L'/M$:0NX5(0&M6$
;&O&$;O(P(0:O$]$(OO&N:%&O$4/N&M$'&M$B/O?&M$N($P:/'(0%:&$]$N:M%O:?:0&%:S06$(0$;&O4:%8'&O$
%/04O&$'&M$?8Q(O(M6$'&M$0:k&M$]$'/M$0:k/M$:0NX5(0&M-

19
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

?1.8(-&2+UY+4"1"(52+'+;"1."*"("1+'+;-"3&2%+$*68#"*'%
d&M$;(OM/0&M$]$%/?80:N&N(M$:0NX5(0&M$4:(0(0$('$N(O(%9/$N($;(O4(0(%(O$&$80/$/$P&O:/M$
;8(L'/M$:0NX5(0&M6$N($&%8(ON/$%/0$'&$:N(04:N&N6$4O&N:%:/0(M6$%/M48?LO(M$]$M:M4(?&M$N($
;(O4(0(0%:&$N($%&N&$;8(L'/-$R('$(Q(O%:%:/$N($(M($N(O(%9/$0/$;8(N($O(M8'4&O$N:M%O:?:0&%:S0$
N($0:05c0$4:;/-

?1.8(-&2+VY+7"1%2*'&$6'6+E-186$('
d/M$^M4&N/M$O(%/0/%(Of0$;'(0&?(04($'&$;(OM/0&':N&N$Q8OXN:%&$N($'/M$;8(L'/M$:0NX5(0&M6$
O(M;(4&0N/$'&M$B/O?&M$N($/O5&0:3&%:S0$:0NX5(0&M$]$;O/?/P:(0N/$('$(Q(O%:%:/$;'(0/$N($'/M$
N(O(%9/M$O(%/0/%:N/M$(0$(M4&$R(%'&O&%:S0-

?1.8(-&2+PNY+G"(5'[2+'+&'+'%$/$&'($)*
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$?&04(0(O6$(C;O(M&O$]$N(M&OO/''&O$':LO(?(04($M8$
:N(04:N&N$%8'48O&'$(0$4/N/M$M8M$&M;(%4/M6$':LO($N($4/N/$:04(04/$(C4(O0/$N($&M:?:'&%:S0-
1-$ d/M$ ^M4&N/M$ 0/$ N(L(Of0$ N(M&OO/''&O6$ &N/;4&O6$ &;/]&O$ /$ B&P/O(%(O$ ;/'X4:%&$ &'580&$ N($
&M:?:'&%:S0$N($'/M$;8(L'/M$:0NX5(0&M$0:$N($N(M4O8%%:S0$N($M8M$%8'48O&M-

?1.8(-&2+PPY+712."(($)*+(2*.1'+"&+#"*2($6$2
d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ 0/$ M(O$ /LQ(4/$ N($ B/O?&$ &'580&$ N($ 5(0/%:N:/$ /$
:04(04/$N($(C4(O?:0:/-

?1.8(-&2+ PMY+ ,'1'*.8'%+ (2*.1'+ "&+ 1'($%/2C+ &'+ 6$%(1$/$*'($)*+ 1'($'&C+ &'+ \"*2H23$'+ J+
2.1'%+H21/'%+(2*"\'%+6"+$*.2&"1'*($'
d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$0/$M(O$/LQ(4/$N($O&%:M?/6$N:M%O:?:0&%:S0$O&%:&'6$
C(0/B/L:&$0:$/4O&M$B/O?&M$%/0(C&M$N($:04/'(O&0%:&-$d/M$^M4&N/M$&N/;4&Of0$'&M$?(N:N&M$
;O(P(04:P&M$]$%/OO(%4:P&M$0(%(M&O:&M$;&O&$'&$;'(0&$]$(B(%4:P&$;O/4(%%:S0$N($(M4($N(O(%9/-

B>990WL+D>G9>G?A+06"*.$6'6+(-&.-1'&
?1.8(-&2+PQY+4"1"(52+'+&'+$6"*.$6'6+"+$*."#1$6'6+(-&.-1'&
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$M8$;O/;:&$:N(04:N&N$($:04(5O:N&N$%8'48O&'$]$&$
M8$;&4O:?/0:/$%8'48O&'6$4&05:L'($($:04&05:L'(6$:0%'8](0N/$('$9:M4SO:%/$]$&0%(M4O&'6$&MX$
%/?/$&$'&$;O/4(%%:S06$;O(M(OP&%:S06$?&04(0:?:(04/$]$N(M&OO/''/$N($N:%9/$;&4O:?/0:/$
%8'48O&'$;&O&$M8$%/04:08:N&N$%/'(%4:P&$]$'&$N($M8M$?:(?LO/M6$]$;&O&$4O&0M?:4:O'/$&$'&M$
5(0(O&%:/0(M$B848O&M-$
1-$ d/M$ ^M4&N/M$ ;O/;/O%:/0&Of0$ O(;&O&%:S0$ ;/O$ ?(N:/$ N($ ?(%&0:M?/M$ (B:%&%(M6$ =8($
;/NOf0$:0%'8:O$'&$O(M4:48%:S06$(M4&L'(%:N/M$%/0Q804&?(04($%/0$'/M$;8(L'/M$:0NX5(0&M6$
O(M;(%4/$N($'/M$L:(0(M$%8'48O&'(M6$:04('(%48&'(M6$O(':5:/M/M$]$(M;:O:48&'(M$N($=8($9&]&0$
M:N/$;O:P&N/M$M:0$M8$%/0M(04:?:(04/$':LO(6$;O(P:/$($:0B/O?&N/$/$(0$P:/'&%:S0$N($M8M$
'(](M6$4O&N:%:/0(M$]$%/M48?LO(M-

,! 20
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

+-$ d/M$V8(L'/M$W0NX5(0&M$4:(0(0$N(O(%9/$&$=8($M($O(%/0/3%&0$]$O(M;(4(0$4/N&M$M8M$B/O?&M$
N($ P:N&6$ %/M?/P:M:/0(M6$ (M;:O:48&':N&N6$ 8M/M$ ]$ %/M48?LO(M6$ 0/O?&M$ ]$ 4O&N:%:/0(M6$
B/O?&M$ N($ /O5&0:3&%:S0$ M/%:&'6$ (%/0S?:%&$ ]$ ;/'X4:%&6$ B/O?&M$ N($ 4O&0M?:M:S0$ N('$
%/0/%:?:(04/6$ :0M4:48%:/0(M6$ ;Of%4:%&M6$ %O((0%:&M6$ P&'/O(M6$ :0N8?(04&O:&$ ]$ '(058&M6$
O(%/0/%:(0N/$M8$:04(OO('&%:S06$4&'$%/?/$M($(M4&L'(%($(0$(M4&$R(%'&O&%:S0-

?1.8(-&2+PRY+B$%."/'%+6"+(2*2($/$"*.2%C+&"*#-'E"+J+(2/-*$('($)*
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ ('$ N(O(%9/$ &$ ;O(M(OP&O6$ 8M&O6$ N(M&OO/''&O6$ O(P:4&':3&O$ ]$
4O&0M?:4:O$&$5(0(O&%:/0(M$B848O&M$M8M$;O/;:&M$9:M4/O:&M6$'(058&M6$4O&N:%:/0(M$/O&'(M6$
B:'/M/BX&M6$M:M4(?&M$N($%/0/%:?:(04/M6$(M%O:48O&$]$':4(O&48O&n$]$&$N(M:50&O$]$?&04(0(O$
M8M$;O/;:/M$0/?LO(M$;&O&$M8M$%/?80:N&N(M6$:0N:P:N8/M$]$'85&O(M-
1-$ d/M$^M4&N/M$N(L(Of0$&N/;4&O$?(N:N&M$&N(%8&N&M$]$(B:%&%(M$;&O&$;O/4(5(O$('$(Q(O%:%:/$
N($(M4($N(O(%9/$%/0$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&$N($'/M$;8(L'/M$:0NX5(0&M-
+-$ d/M$;8(L'/M$:0NX5(0&M6$4:(0(0$N(O(%9/$&$;O/?/P(O$]$N(M&OO/''&O$4/N/M$M8M$M:M4(?&M$
]$?(N:/M$N($%/?80:%&%:S06$:0%'8:N/M$M8M$;O/;:/M$;O/5O&?&M$N($O&N:/$]$4('(P:M:S06$]$
&%%(N(O$(0$;:($N($:58&'N&N$&$4/N/M$'/M$N(?fM$?(N:/M$N($%/?80:%&%:S0$($:0B/O?&%:S0-$
d/M$^M4&N/M$4/?&Of0$?(N:N&M$;&O&$;O/?/P(O$'&$4O&0M?:M:S0$N($;O/5O&?&M$N($O&N:/$]$
4('(P:M:S0$(0$'(058&$:0NX5(0&6$;&O4:%8'&O?(04($(0$O(5:/0(M$N($;O(M(0%:&$:0NX5(0&-$d/M$
^M4&N/M$&;/]&Of0$]$B&%:':4&Of0$'&$%O(&%:S0$N($O&N:/(?:M/O&M$]$4('(P:M/O&M$:0NX5(0&M6$
&MX$%/?/$/4O/M$?(N:/M$N($:0B/O?&%:S0$]$%/?80:%&%:S0-
J-$ d/M$ ^M4&N/M6$ (0$ %/0Q804/$ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M6$ O(&':3&Of0$ (MB8(O3/M$ ;&O&$ =8($
N:%9/M$ ;8(L'/M$ ;8(N&0$ %/?;O(0N(O$ ]$ 9&%(OM($ %/?;O(0N(O$ (0$ M8M$ ;O/;:&M$ '(058&M$
(0$;O/%(M/M$&N?:0:M4O&4:P/M6$;/'X4:%/M$]$Q8N:%:&'(M6$B&%:':4f0N/'(M6$M:$B8(O($0(%(M&O:/6$
:04<O;O(4(M$8$/4O/M$?(N:/M$(B:%&%(M-

?1.8(-&2+PSY+>6-('($)*
!-$ d/M$;8(L'/M$]$;(OM/0&M$:0NX5(0&M6$(0$;&O4:%8'&O$'/M$0:k/M$]$0:k&M$:0NX5(0&M6$4:(0(0$
N(O(%9/$&$4/N/M$'/M$0:P('(M$]$B/O?&M$N($(N8%&%:S06$M:0$N:M%O:?:0&%:S0-
1-$ d/M$^M4&N/M$]$'/M$;8(L'/M$:0NX5(0&M6$(0$%/0%/ON&0%:&$%/0$('$;O:0%:;:/$N($:58&'N&N$N($
/;/O480:N&N(M6$;O/?/P(Of0$'&$O(N8%%:S0$N($'&M$N:M;&O:N&N(M$(0$'&$(N8%&%:S0$(04O($
'/M$;8(L'/M$:0NX5(0&M$]$'/M$0/$:0NX5(0&M-
+-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ (M4&L'(%(O$ ]$ %/04O/'&O$ M8M$ M:M4(?&M$ ($
:0M4:48%:/0(M$N/%(04(M$=8($:?;&O4&0$(N8%&%:S0$(0$M8M$;O/;:/M$:N:/?&M6$(0$%/0M/0&0%:&$
%/0$M8M$?<4/N/M$%8'48O&'(M$N($(0M(k&03&$]$&;O(0N:3&Q(
J-$ d/M$^M4&N/M6$(0$%/0Q804/$%/0$'/M$;8(L'/M$:0NX5(0&M6$&N/;4&Of0$?(N:N&M$(B:%&%(M$;&O&$
=8($ '&M$ ;(OM/0&M$ :0NX5(0&M6$ (0$ ;&O4:%8'&O$ '/M$ 0:k/M$ ]$ 0:k&M6$ =8($ P:P(0$ B8(O&$ N($ M8M$
%/?80:N&N(M$;8(N&0$4(0(O$&%%(M/$&$'&$(N8%&%:S0$(0$M8M$;O/;:&M$'(058&M$]$%8'48O&M-$
)-$ d/M$ ^M4&N/M$ ;O/?/P(Of0$ O('&%:/0(M$ :04(O%8'48O&'(M$ &O?S0:%&M6$ &M(58O&0N/$ (0$ '/M$
M:M4(?&M$ (N8%&4:P/M$ (M4&4&'(M$ %8OOX%8'&$ %/0$ %/04(0:N/M$ =8($ O(B'(Q(0$ '&$ 0&48O&'(3&$

21 ,,
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

;'8O:%8'48O&'$ ]$ ?8'4:':05e($ N($ M8M$ M/%:(N&N(M$ ]$ =8($ :?;8'M(0$ ('$ O(M;(4/$ ]$ ('$
%/0/%:?:(04/$ N($ '&M$ N:P(OM&M$ %8'48O&M$ :0NX5(0&M-$ d/M$ ^M4&N/M6$ (0$ %/0Q804/$ %/0$ '/M$
;8(L'/M$:0NX5(0&M6$:?;8'M&Of0$'&$(N8%&%:S0$:04(O%8'48O&'$=8($O(B'(Q($'&M$%/M?/P:M:/0(M6$
9:M4/O:&M6$ '(058&M6$ %/0/%:?:(04/M6$ P&'/O(M6$ %8'48O&M6$ ;Of%4:%&M$ ]$ B/O?&M$ N($ P:N&$ N($
N:%9/M$;8(L'/M-
[-$ d/M$ ^M4&N/M6$ %/0Q804&?(04($ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M6$ N(L(Of0$ 4/?&O$ ?(N:N&M$
0(%(M&O:&M$]$(B:%&%(M$;&O&$('$(Q(O%:%:/$]$%8?;':?:(04/$N($(M4/M$N(O(%9/M-

?1.8(-&2+PTY+>%;$1$.-'&$6'6+$*68#"*'
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$(Q(O%(O$':LO(?(04($M8$;O/;:&$(M;:O:48&':N&N$
]$ %O((0%:&M$ ]6$ (0$ P:O48N$ N($ (''/6$ &$ ;O&%4:%&O6$ N(M&OO/''&O6$ 4O&0M?:4:O$ ]$ (0M(k&O$ M8M$
4O&N:%:/0(M6$ %/M48?LO(M$ ]$ %(O(?/0:&M6$ ]$ &$ O(&':3&O'&M$ 4&04/$ (0$ ;cL':%/$ %/?/$ (0$
;O:P&N/6$:0N:P:N8&'$]$%/'(%4:P&?(04(-
1-$ T:05c0$;8(L'/$/$;(OM/0&$:0NX5(0&$N(L(Of$M(O$M8Q(4/$&$;O(M:/0(M$/$:?;/M:%:/0(M6$/$&$
%8&'=8:(O$/4O/$4:;/$N($?(N:N&M$%/(O%:4:P&M$=8($&B(%4(0$/$':?:4(0$M8$N(O(%9/$&$(Q(O%(O$
':LO(?(04($M8$(M;:O:48&':N&N$]$%O((0%:&M$:0NX5(0&M-
+-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;O(M(OP&O6$ ;O/4(5(O$ ]$ &%%(N(O$ &$ M8M$ M:4:/M$
M&5O&N/M6$:0%'8:N/M$M8M$'85&O(M$N($M(;8'48O&6$&$8M&O$]$%/04O/'&O$M8M$O(':=8:&M$]$/LQ(4/M$
M&5O&N/M$]$&$O(%8;(O&O$M8M$O(M4/M$98?&0/M-
J-$ d/M$^M4&N/M6$(0$%/0Q804/$%/0$'/M$;8(L'/M$:0NX5(0&M6$&N/;4&Of0$?(N:N&M$(B:%&%(M$;&O&$
;O/?/P(O$('$O(M;(4/$&$'&$(M;:O:48&':N&N$]$%O((0%:&M$:0NX5(0&M$]6$;O/4(5(O$'&$:04(5O:N&N$
N($ '/M$ MX?L/'/M6$ ;Of%4:%&M6$ %(O(?/0:&M6$ (C;O(M:/0(M$ ]$ B/O?&M$ (M;:O:48&'(M$ N($ '/M$
;8(L'/M$:0NX5(0&M6$N($%/0B/O?:N&N$%/0$('$N(O(%9/$:04(O0&%:/0&'-$

?1.8(-&2+POY+]'/$&$'+$*68#"*'
!-$ d&$B&?:':&$(M$('$('(?(04/$0&48O&'$]$B80N&?(04&'$N($'&$M/%:(N&N-$d/M$;8(L'/M$:0NX5(0&M$
4:(0(0$ N(O(%9/$ &$ ;O(M(OP&O6$ ?&04(0(O$ ]$ ;O/?/P(O$ M8M$ ;O/;:/M$ M:M4(?&M$ N($ B&?:':&-$
d/M$^M4&N/M$O(%/0/%(Of06$O(M;(4&Of0$]$;O/4(5(Of0$'&M$N:M4:04&M$B/O?&M$:0NX5(0&M$N($
B&?:':&6$(0$;&O4:%8'&O$'&$B&?:':&$(C4(0M&6$&MX$%/?/$M8M$B/O?&M$N($80:S0$?&4O:?/0:&'6$
N($B:':&%:S06$N(M%(0N(0%:&$]$N($0/?LO($B&?:':&O-$^0$4/N/M$'/M$%&M/M6$M($O(%/0/%(Of$]$
O(M;(4&Of$'&$(=8:N&N$N($5<0(O/$]$5(0(O&%:/0&'-
1-$ ^0$&M804/M$O('&4:P/M$&$'&$%8M4/N:&6$&N/;%:S06$O8;48O&$N('$PX0%8'/$B&?:':&6$]$(0$&M804/M$
M:?:'&O(M6$ ('$ :04(O<M$ M8;(O:/O$ N('$ 0:k/$ N(L(Of$ M(O$ N($ %/0M:N(O&%:S0$ ;O:?&O:&-$ ^0$ '&$
N(4(O?:0&%:S0$N('$:04(O<M$M8;(O:/O$N('$0:k/6$'&M$%/O4(M$]$/4O&M$:0M4:48%:/0(M$O('(P&04(M$
N(L(Of0$4(0(O$;O(M(04($('$N(O(%9/$N($4/N/$0:k/$:0NX5(0&6$(0$%/?c0$%/0$?:(?LO/M$N($
M8$;8(L'/6$&$N:MBO84&O$N($M8$;O/;:&$%8'48O&6$&$;O/B(M&O$]$&$;O&%4:%&O$M8$;O/;:&$O(':5:S0$
/$&$9&L'&O$M8$;O/;:&$'(058&6$]$(0$(M($M(04:N/6$N(L(Of$%/0M:N(O&OM($('$N(O(%9/$:0NX5(0&$
N('$;8(L'/$%/OO(M;/0N:(04(6$]$M8$;804/$N($P:M4&6$N(O(%9/M$($:04(O(M(M6$:0%'8](0N/$'&M$
;/M:%:/0(M$N($'/M$:0N:P:N8/M6$'&$B&?:':&6$]$'&$%/?80:N&N-

,1 22
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+PUY+B'&-6
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$(0$B/O?&$%/'(%4:P&$($:0N:P:N8&'$&'$N:MBO84($N('$
?fM$&'4/$0:P('$;/M:L'($N($M&'8N$BXM:%&6$?(04&'$]$(M;:O:48&'-
1-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$M8M$;O/;:/M$M:M4(?&M$]$;Of%4:%&M$N($M&'8N6$&MX$
%/?/$&'$8M/$]$'&$;O/4(%%:S0$N($'&M$;'&04&M6$&0:?&'(M6$?:0(O&'(M$N($:04(O<M$P:4&'6$]$/4O/M$
O(%8OM/M$0&48O&'(M$N($8M/$?(N:%:0&'$(0$M8M$4:(OO&M$]$4(OO:4/O:/M$&0%(M4O&'(M-
+-$ d/M$^M4&N/M$4/?&Of0$?(N:N&M$;&O&$;O(P(0:O$]$;O/9:L:O$=8($'/M$;8(L'/M$]$'&M$;(OM/0&M$
:0NX5(0&M$ M(&0$ /LQ(4/$ N($ ;O/5O&?&M$ N($ :0P(M4:5&%:S06$ (C;(O:?(04&%:S0$ L:/'S5:%&$ /$
?<N:%&6$ &MX$ %/?/$ '&$ (M4(O:':3&%:S0$ M:0$ M8$ %/0M(04:?:(04/$ ;O(P:/$ ':LO($ ($ :0B/O?&N/-$
YM:?:M?/6$ '/M$ ;8(L'/M$ ]$ '&M$ ;(OM/0&M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/6$ M(5c0$ M(&$ ('$ %&M/6$
&'$ &%%(M/$ &$ M8M$ ;O/;:/M$ N&4/M6$ (C;(N:(04(M$ ?<N:%/M$ ]$ N/%8?(04/M$ N($ :0P(M4:5&%:S0$
%/0N8%:N/M$;/O$;(OM/0&M$($:0M4:48%:/0(M$;cL':%&M$/$;O:P&N&M-
J-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ 84:':3&O6$ M:0$ N:M%O:?:0&%:S0$ &'580&6$ 4/N&M$
'&M$ :0M4:48%:/0(M$ ]$ M(OP:%:/M$ N($ M&'8N$ ]$ &4(0%:S0$ ?<N:%&$ &%%(M:L'(M$ &$ '&$ ;/L'&%:S0$
(0$ 5(0(O&'-$ d/M$ ^M4&N/M$ (0$ %/0M8'4&$ ]$ %//ON:0&%:S0$ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M$
;O/?/P(Of0$M:M4(?&M$/$;Of%4:%&M$:04(O%8'48O&'(M$(0$'/M$M(OP:%:/M$?<N:%/M$]$M&0:4&O:/M$
=8($M($;O/P(&0$(0$'&M$%/?80:N&N(M$:0NX5(0&M6$:0%'8](0N/$'&$B/O?&%:S0$N($4<%0:%/M$]$
;O/B(M:/0&'(M$:0NX5(0&M$N($M&'8N-
)-$ d/M$ ^M4&N/M$ 5&O&04:3&Of0$ ('$ (Q(O%:%:/$ (B(%4:P/$ N($ '/M$ N(O(%9/M$ %/04(0:N/M$ (0$ (M4($
&O4X%8'/-

?1.8(-&2+PVY+4"1"(52+'+&'+;12."(($)*+6"&+/"6$2+'/3$"*."+%'*2
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ P:P:O$ (0$ &O?/0X&$ %/0$ '&$ 0&48O&'(3&$ ]$ &$ 80$
&?L:(04($M&0/6$M(58O/$]$M8M4(04&L'(6$%/0N:%:/0(M$(M(0%:&'(M$;&O&$('$;'(0/$5/%($N('$
N(O(%9/$&$'&$P:N&6$&$M8$(M;:O:48&':N&N6$%/M?/P:M:S0$]$&'$L:(0(M4&O$%/'(%4:P/-
1-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ %/0M(OP&O6$ O(M4&8O&O$ ]$ ;O/4(5(O$ ('$ ?(N:/$
&?L:(04($]$&'$?&0(Q/$M8M4(04&L'($N($M8M$4:(OO&M6$4(OO:4/O:/M$]$O(%8OM/M-$
+-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ ('$ N(O(%9/$ N($ M(O$ ;O/4(5:N/M$ %/04O&$ '&$ :04O/N8%%:S06$
&L&0N/0/6$N:M;(OM:S06$4Of0M:4/6$8M/$:0N:M%O:?:0&N/$/$N(;SM:4/$N($%8&'=8:(O$?&4(O:&'$
;(':5O/M/$=8($;8(N&$&B(%4&O$0(5&4:P&?(04($&$'&M$%/?80:N&N(M6$4:(OO&M6$4(OO:4/O:/M$]$
O(%8OM/M$:0NX5(0&M
J-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ '&$ %/0M(OP&%:S0$ ]$ ;O/4(%%:S0$ N('$ ?(N:/$
&?L:(04($ ]$ N($ '&$ %&;&%:N&N$ ;O/N8%4:P&$ N($ M8M$ 4:(OO&M$ /$ 4(OO:4/O:/M$ ]$ O(%8OM/M-$ d/M$
^M4&N/M$N(L(Of0$(M4&L'(%(O$]$(Q(%84&O$;O/5O&?&M$N($&M:M4(0%:&$&$'/M$;8(L'/M$:0NX5(0&M$
;&O&$&M(58O&O$(M&$%/0M(OP&%:S0$]$;O/4(%%:S06$M:0$N:M%O:?:0&%:S0-

23 ,(
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

B>990WL+9F?GD?A+4"1"(52%+=1#'*$['.$K2%+J+72&8.$(2%
?1.8(-&2+MNY+4"1"(52%+6"+'%2($'($)*C+1"-*$)*C+&$3"1.'6+6"+"\;1"%$)*+J+;"*%'/$"*.2
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ '/M$ N(O(%9/M$ N($ &M/%:&%:S06$ O(80:S06$ /O5&0:3&%:S0$ ]$
(C;O(M:S06$]$&$(Q(O%(O'/M$M:0$:04(OB(O(0%:&M$]$N($&%8(ON/$&$M8$%/M?/P:M:S06$:04(O$&':&6$
M8M$P&'/O(M6$M8M$8M/M6$M8M$%/M48?LO(M6$M8M$4O&N:%:/0(M$&0%(M4O&'(M6$M8M$%O((0%:&M6$M8$
(M;:O:48&':N&N$]$/4O&M$;Of%4:%&M$%8'48O&'(M-
1-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$('$N(O(%9/$&$O(80:OM($(0$M8M$M:4:/M$]$(M;&%:/M$M&5O&N/M$]$
%(O(?/0:&'(M-$V&O&$4&'$B:06$4(0NOf0$':LO($&%%(M/6$]$8M/$N($'/M$?:M?/M-
+-$ d/M$ ;8(L'/M$ :0NX5(0&M6$ (0$ ;&O4:%8'&O$ &=8(''/M$ =8($ (M4f0$ N:P:N:N/M$ ;/O$ BO/04(O&M$
:04(O0&%:/0&'(M6$4:(0(0$N(O(%9/$&$4O&0M:4&O6$?&04(0(O6$N(M&OO/''&O$%/04&%4/M6$O('&%:/0(M$
]$%//;(O&%:S0$N:O(%4&6$:0%'8:N&M$'&M$&%4:P:N&N(M$N($%&Of%4(O$(M;:O:48&'6$%8'48O&'6$;/'X4:%/6$
(%/0S?:%/$]$M/%:&'6$%/0$M8M$?:(?LO/M$]$%/0$/4O/M$;8(L'/M-
J-$ d/M$^M4&N/M$&N/;4&Of06$(0$%/0M8'4&$]$%//;(O&%:S0$%/0$'/M$;8(L'/M$:0NX5(0&M6$?(N:N&M$
(B(%4:P&M$;&O&$B&%:':4&O$('$(Q(O%:%:/$]$&M(58O&O$'&$&;':%&%:S0$N($(M4/M$N(O(%9/M-

?1.8(-&2+MPY+4"1"(52+'+&'+'-.2*2/8'+2+'&+'-.2#23$"1*2
!-$ d/M$ ;8(L'/M$ :0NX5(0&M6$ (0$ (Q(O%:%:/$ N($ M8$ N(O(%9/$ &$ '&$ ':LO($ N(4(O?:0&%:S06$ 4:(0(0$
N(O(%9/$ &$ '&$ &84/0/?X&$ /$ &'$ &84/5/L:(O0/$ (0$ '&M$ %8(M4:/0(M$ O('&%:/0&N&M$ %/0$ M8M$
&M804/M$:04(O0/M$]$'/%&'(M6$&MX$%/?/$&$N:M;/0(O$N($?(N:/M$;&O&$B:0&0%:&O$M8M$B80%:/0(M$
&84S0/?&M-$
1-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$?&04(0(O$]$N(M&OO/''&O$M8M$;O/;:&M$:0M4:48%:/0(M$
:0NX5(0&M$ N($ N(%:M:S0-$ @&?L:<0$ 4:(0(0$ ('$ N(O(%9/$ N($ ;&O4:%:;&O$ (0$ '&$ &N/;%:S0$ N($
N(%:M:/0(M$(0$'&M$%8(M4:/0(M$=8($&B(%4(0$M8M$N(O(%9/M-$V8(N(0$9&%(O'/$N:O(%4&?(04($
/$&$4O&P<M$N($M8M$O(;O(M(04&04(M6$N($&%8(ON/$&$M8M$;O/;:&M$0/O?&M6$;O/%(N:?:(04/M$]$
4O&N:%:/0(M-$YM:?:M?/6$4:(0(0$('$N(O(%9/$&$'&$:58&'N&N$N($/;/O480:N&N(M$;&O&$&%%(N(O$
]$ ;&O4:%:;&O$ ;'(0&$ ]$ (B(%4:P&?(04($ %/?/$ ;8(L'/M$ (0$ 4/N&M$ '&M$ :0M4:48%:/0(M$ ]$ B/O/M$
0&%:/0&'(M6$:0%'8](0N/$'/M$%8(O;/M$N(':L(O&04(M-

?1.8(-&2+MMY+4"1"(52+J+E-1$%6$(($)*+$*68#"*'
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;O/?/P(O6$ N(M&OO/''&O$ ]$ ?&04(0(O$ M8M$
(M4O8%48O&M$ :0M4:48%:/0&'(M$ ]$ M8M$ ;O/;:&M$ %/M48?LO(M6$ (M;:O:48&':N&N6$ 4O&N:%:/0(M6$
;O/%(N:?:(04/M6$ ;Of%4:%&M$ ]6$ %8&0N/$ (C:M4&06$ %/M48?LO(M$ /$ M:M4(?&M$ Q8OXN:%/M6$ N($
%/0B/O?:N&N$%/0$'&M$0/O?&M$:04(O0&%:/0&'(M$N($N(O(%9/M$98?&0/M-
1-$ ^'$N(O(%9/$]$'/M$M:M4(?&M$Q8OXN:%/M$:0NX5(0&M$N(L(0$M(O$O(%/0/%:N/M$]$O(M;(4&N/M$;/O$
('$/ON(0$Q8OXN:%/$0&%:/0&'6$O(5:/0&'$($:04(O0&%:/0&'-
+-$ d/M$ &M804/M$ O(B(O:N/M$ &$ ;(OM/0&M$ :0NX5(0&M$ /$ &$ M8M$ N(O(%9/M$ /$ :04(O(M(M$ (0$ '&$
Q8O:MN:%%:S0$N($%&N&$^M4&N/6$M(Of0$%/0N8%:N/M$N($?&0(O&$4&'$N($;O/P((O$('$N(O(%9/$
&$ '/M$ :0NX5(0&M$ N($ ;'(0&$ O(;O(M(04&%:S0$ %/0$ N:50:N&N$ ($ :58&'N&N$ &04($ '&$ '(]-$ ^0$

,- 24
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

%/0M(%8(0%:&6$4:(0(0$N(O(%9/$M:0$N:M%O:?:0&%:S06$&$:58&'$;O/4(%%:S0$]$L(0(B:%:/$N($'&$
'(]6$:0%'8M/6$&'$8M/$N($:04<O;O(4(M$':05eXM4:%/M$]$%8'48O&'(M-
J-$ d/M$^M4&N/M$4/?&Of0$?(N:N&M$(B:%&%(M6$(0$%/0Q804/$%/0$'/M$;8(L'/M$:0NX5(0&M6$;&O&$
&M(58O&O$'&$:?;'(?(04&%:S0$N($(M4($&O4X%8'/-

?1.8(-&2+MQY+7'1.$($;'($)*+6"+&2%+;-"3&2%+$*68#"*'%+J+';21."%+6"+&2%+%$%."/'%+&"#'&"%+
J+21#'*$['.$K2%+$*68#"*'%
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&6$;/O$%/0N8%4/$
N($O(;O(M(04&04(M$('(5:N/M$;/O$(''/M$N($%/0B/O?:N&N$%/0$M8M$;O/;:&M$:0M4:48%:/0(M6$
(0$'&$&N/;%:S0$N($N(%:M:/0(M$(0$'&M$%8(M4:/0(0$=8($&B(%4(0$M8M$N(O(%9/M$]$=8($4(05&0$
O('&%:S0$%/0$'&$('&L/O&%:S0$]$(Q(%8%:S0$N($'(](M6$;/'X4:%&M$;cL':%&M6$;O/5O&?&M6$;'&0(M$
]$&%%:/0(M$O('&%:/0&N&M$%/0$'/M$&M804/M$:0NX5(0&M-
1-$ d/M$^M4&N/M$%('(LO&Of0$%/0M8'4&M$]$%//;(O&Of0$N($L8(0&$B($%/0$'/M$;8(L'/M$:0NX5(0&M$
:04(O(M&N/M$ ;/O$ ?(N:/$ N($ M8M$ :0M4:48%:/0(M$ O(;O(M(04&4:P&M$ &04(M$ N($ &N/;4&O$ ]$
&;':%&O$ ?(N:N&M$ '(5:M'&4:P&M$ /$ &N?:0:M4O&4:P&M$ =8($ '/M$ &B(%4(06$ &$ B:0$ N($ /L4(0(O$ M8$
%/0M(04:?:(04/$':LO(6$;O(P:/$($:0B/O?&N/-

?1.8(-&2+MRY+D1'.'62%C+'(-"162%+J+2.12%+'11"#&2%+(2*%.1-(.$K2%
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&'$O(%/0/%:?:(04/6$/LM(OP&0%:&$]$&;':%&%:S0$N($
'/M$4O&4&N/M6$&%8(ON/M$]$/4O/M$&OO(5'/M$%/0M4O8%4:P/M$%/0%(O4&N/M$%/0$'/M$^M4&N/M6$]$
M8M$M8%(M/O(M6$N($%/0B/O?:N&N$%/0$M8$P(ON&N(O/$(M;XO:48$($:04(0%:S06$N($L8(0&$B($]$
9&%(O$=8($'/M$?:M?/M$M(&0$O(M;(4&N/M$]$&%&4&N/M$;/O$'/M$^M4&N/M-$d/M$^M4&N/M$N&Of0$
N(L:N&$%/0M:N(O&%:S0$&'$(04(0N:?:(04/$=8($'/M$;8(L'/M$:0NX5(0&M$9&0$/4/O5&N/$&$'/M$
4O&4&N/M6$&%8(ON/M$]$/4O/M$&OO(5'/M$%/0M4O8%4:P/M-$
1-$ Z8&0N/$'&M$%/04O/P(OM:&M$0/$;8(N&0$M(O$O(M8('4&M$(04O($'&M$;&O4(M$(0$O('&%:S0$&$N:%9/M$
4O&4&N/M6$&%8(ON/M$]$/4O/M$&OO(5'/M$%/0M4O8%4:P/M6$(M4&M$M(Of0$M/?(4:N&M$&$'/M$SO5&0/M$
%/?;(4(04(M6$ :0%'8:N/M$ '/M$ SO5&0/M$ O(5:/0&'(M$ ($ :04(O0&%:/0&'(M6$ ;/O$ '/M$ ^M4&N/M$ /$
V8(L'/M$W0NX5(0&M$:04(O(M&N/M-
+-$ T&N&$ N($ '/$ %/04(0:N/$ (0$ '&$ ;O(M(04($ R(%'&O&%:S0$ M($ :04(O;O(4&Of$ (0$ ('$ M(04:N/$ =8($
?(0/M%&L&$/$M8;O:?($'/M$N(O(%9/M$N($'/M$;8(L'/M$:0NX5(0&M$=8($B:58O(0$(0$4O&4&N/M6$
&%8(ON/M$]$/4O/M$&OO(5'/M$%/0M4O8%4:P/M-

B>990WL+^F0LD?A+4"1"(52%+B2($'&"%C+
>(2*)/$(2%+J+6"+712;$"6'6
?1.8(-&2+MSY+]21/'%+.1'6$($2*'&"%+6"+;12;$"6'6+J+%-;"1K$K"*($'+(-&.-1'&Y+4"1"(52+
'+.$"11'%C+."11$.21$2%+J+1"(-1%2%
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ?&04(0(O$ ]$ B/O4&'(%(O$ M8$ ;O/;:&$ O('&%:S0$
(M;:O:48&'6$%8'48O&'$]$?&4(O:&'$%/0$M8M$4:(OO&M6$4(OO:4/O:/M$]$O(%8OM/M6$]$&$&M8?:O$M8M$

25 ,.
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

O(M;/0M&L:':N&N(M$ ;&O&$ %/0M(OP&O'/M$ ;&O&$ (''/M$ ?:M?/M$ ]$ ;&O&$ '&M$ 5(0(O&%:/0(M$


P(0:N(O&M-
1-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ '&M$ 4:(OO&M6$ 4(OO:4/O:/M$ ]$ O(%8OM/M$ =8($
4O&N:%:/0&'?(04($9&0$;/M(XN/6$/%8;&N/$/$84:':3&N/$/$&N=8:O:N/-
+-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;/M((O6$ 84:':3&O6$ N(M&OO/''&O$ ]$ %/04O/'&O$ '&M$
4:(OO&M6$4(OO:4/O:/M$]$O(%8OM/M$=8($;/M((0$(0$O&3S0$N($'&$;O/;:(N&N$4O&N:%:/0&'$8$/4O/$
4:;/$4O&N:%:/0&'$N($/%8;&%:S0$/$84:':3&%:S06$&MX$%/?/$&=8(''/M$=8($9&]&0$&N=8:O:N/$N($
/4O&$B/O?&-
J-$ d/M$ ^M4&N/M$ &M(58O&Of0$ ('$ O(%/0/%:?:(04/$ ]$ ;O/4(%%:S0$ Q8OXN:%/M$ N($ (M&M$ 4:(OO&M6$
4(OO:4/O:/M$]$O(%8OM/M-$R:%9/$O(%/0/%:?:(04/$O(M;(4&Of$N(L:N&?(04($'&M$%/M48?LO(M6$
'&M$4O&N:%:/0(M$]$'/M$M:M4(?&M$N($4(0(0%:&$N($'&$4:(OO&$N($'/M$;8(L'/M$:0NX5(0&M$N($=8($
M($4O&4(-$
)-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$('$N(O(%9/$&'$O(%/0/%:?:(04/$'(5&'$N($'&M$?/N&':N&N(M$
]$ B/O?&M$ N:P(OM&M$ ]$ ;&O4:%8'&O(M$ N($ ;O/;:(N&N6$ ;/M(M:S0$ /$ N/?:0:/$ N($ M8M$ 4:(OO&M6$
4(OO:4/O:/M$]$O(%8OM/M$N($&%8(ON/$%/0$('$/ON(0&?:(04/$Q8OXN:%/$N($%&N&$^M4&N/$]$'/M$
:0M4O8?(04/M$ :04(O0&%:/0&'(M$ ;(O4:0(04(M-$ d/M$ ^M4&N/M$ (M4&L'(%(Of0$ '/M$ O(5X?(0(M$
(M;(%:&'(M$&;O/;:&N/M$;&O&$(M4($O(%/0/%:?:(04/$]$M8$(B(%4:P&$N(?&O%&%:S0$/$4:48'&%:S0-

?1.8(-&2+MTY+7-"3&2%+$*68#"*'%+"*+'$%&'/$"*.2+K2&-*.'1$2+2+"*+(2*.'(.2+$*$($'&
!-$ d/M$;8(L'/M$:0NX5(0&M$(0$&:M'&?:(04/$P/'804&O:/$/$(0$%/04&%4/$:0:%:&'6$4:(0(0$N(O(%9/$
&$;(O?&0(%(O$(0$N:%9&$%/0N:%:S0$]$N($P:P:O$':LO(?(04($]$N($&%8(ON/$&$M8M$%8'48O&M-
1-$ d/M$ ^M4&N/M$ &N/;4&Of0$ ;/'X4:%&M$ ]$ ?(N:N&M$ &N(%8&N&M6$ %/0$ %/0/%:?:(04/$ ]$
;&O4:%:;&%:S0$N($'/M$;8(L'/M$]$'&M$/O5&0:3&%:/0(M$:0NX5(0&M6$;&O&$O(%/0/%(O6$O(M;(4&O$
]$ ;O/4(5(O$ '&M$ 4:(OO&M6$ 4(OO:4/O:/M6$ ?(N:/$ &?L:(04($ ]$ %8'48O&M$ N($ (M4/M$ ;8(L'/M6$ &MX$
%/?/$M8$P:N&$($:04(5O:N&N$:0N:P:N8&'$]$%/'(%4:P&-

?1.8(-&2+MOY+4"1"(52%+&'321'&"%
!-$ d/M$;8(L'/M$]$'&M$;(OM/0&M$:0NX5(0&M$4:(0(0$'/M$N(O(%9/M$]$'&M$5&O&04X&M$O(%/0/%:N&M$
;/O$'&$'(]$'&L/O&'$0&%:/0&'$]$'&$'(]$'&L/O&'$:04(O0&%:/0&'-$d/M$^M4&N/M$&N/;4&Of0$4/N&M$
'&M$?(N:N&M$(M;(%:&'(M$;&O&$;O(P(0:O6$M&0%:/0&O$]$O(;&O&O$'&$N:M%O:?:0&%:S0$N($=8($
M(&0$/LQ(4/$'/M$;8(L'/M$]$'&M$;(OM/0&M$:0NX5(0&M-
1-$ d/M$ ^M4&N/M6$ (0$ %/0Q804/$ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M6$ N(L(Of0$ &N/;4&O$ ?(N:N&M$
:0?(N:&4&M$]$(B:%&%(M$;&O&$(':?:0&O$;Of%4:%&M$'&L/O&'(M$N($(C;'/4&%:S0$%/0$O(M;(%4/$
&$'/M$;8(L'/M$:0NX5(0&M6$(0$;&O4:%8'&O6$'&M$0:k&M6$'/M$0:k/M6$'&M$?8Q(O(M$]$'/M$&0%:&0/M$
:0NX5(0&M-
+-$ ^0$ %&M/$ =8($ '/M$ ;8(L'/M$ :0NX5(0&M$ 0/$ (M4<0$ ;O/4(5:N/M$ (B:%&3?(04($ ;/O$ '&M$ '(](M$
&;':%&L'(M$ &$ '/M$ 4O&L&Q&N/O(M$ (0$ 5(0(O&'6$ '/M$ ^M4&N/M6$ (0$ %/0Q804/$ %/0$ '/M$ ;8(L'/M$
:0NX5(0&M6$4/?&Of0$4/N&M$'&M$?(N:N&M$=8($;8(N&0$M(O$0(%(M&O:&M$&$B:0$N(D

,0 26
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

&-$ ;O/4(5(O$&$4O&L&Q&N/O(M$]$(?;'(&N/M$:0NX5(0&M$(0$?&4(O:&$N($%/04O&4&%:S0$L&Q/$
%/0N:%:/0(M$ N($ (?;'(/$ Q8M4&M$ ($ :58&':4&O:&M6$ 4&04/$ (0$ '/M$ M:M4(?&M$ N($ 4O&L&Q/$
B/O?&'(M$%/?/$:0B/O?&'(Mn
L-$ (M4&L'(%(O6$&;':%&O$/$?(Q/O&O$'&$:0M;(%%:S0$N('$4O&L&Q/$]$'&$&;':%&%:S0$N($0/O?&M$
%/0$;&O4:%8'&O$&4(0%:S06$:04(O$&':&6$&$O(5:/0(M6$(?;O(M&M$/$&%4:P:N&N(M$'&L/O&'(M$(0$
'&M$=8($4/?(0$;&O4($4O&L&Q&N/O(M$/$(?;'(&N/M$:0NX5(0&Mn
%-$ (M4&L'(%(O6$&;':%&O6$/$9&%(O$%8?;':O$'&M$'(](M$N($?&0(O&$=8($4&04/$4O&L&Q&N/O&M$]$
4O&L&Q&N/O(M$:0NX5(0&MD
:-$ 5/%(0$ N($ :58&'N&N$ N($ /;/O480:N&N(M$ ]$ N($ 4O&4/$ (0$ 4/N/M$ '/M$ 4<O?:0/M6$
%/0N:%:/0(M$]$L(0(B:%:/M$N($(?;'(/6$:0%'8](0N/$B/O?&%:S0$]$%&;&%:4&%:S06$L&Q/$
'&$'(5:M'&%:S0$0&%:/0&'$]$('$N(O(%9/$:04(O0&%:/0&'n
::-$ 5/%(0$ N('$ N(O(%9/$ N($ &M/%:&%:S06$ N('$ N(O(%9/$ &$ (M4&L'(%(O$ /O5&0:3&%:/0(M$
M:0N:%&'(M$]$&$;&O4:%:;&O$(0$&%4:P:N&N(M$M:0N:%&'(M$]$('$N(O(%9/$&$0(5/%:&O$(0$
B/O?&$%/'(%4:P&$%/0$(?;'(&N/O(M$&$4O&P<M$N($O(;O(M(04&04(M$N($M8$('(%%:S0$8$
/O5&0:3&%:/0(M$N($4O&L&Q&N/O(M6$:0%'8:N&M$M8M$&84/O:N&N(M$4O&N:%:/0&'(Mn
:::-$ &$=8($0/$(M4<0$M8Q(4/M$&$N:M%O:?:0&%:S0$/$&%/M/$;/O$O&3/0(M$N(6$:04(O$&':&6$O&3&6$
M(C/6$/O:5(0$/$:N(04:N&N$:0NX5(0&n
:P-$ &$ =8($ 0/$ (M4<0$ M8Q(4/M$ &$ M:M4(?&M$ N($ %/04O&4&%:S0$ %/(O%:4:P/M6$ :0%'8:N&M$ '&$
M(OP:N8?LO($;/O$N(8N&M$/$4/N&$/4O&$B/O?&$N($4O&L&Q/$B/O3&N/$8$/L':5&4/O:/6$&MX$
4(05&$(M4($&OO(5'/$'&L/O&'$M8$/O:5(0$(0$'&$'(]6$(0$'&$%/M48?LO($/$(0$80$&OO(5'/$
:0N:P:N8&'$/$%/'(%4:P/6$(0$%8]/$%&M/$('$&OO(5'/$'&L/O&'$M(Of$&LM/'84&?(04($08'/$
]$M:0$P&'/On
P-$ &$=8($0/$(M4<0$B/O3&N/M$&$%/0N:%:/0(M$N($4O&L&Q/$;(':5O/M&M$;&O&$M8$M&'8N$]$
M(58O:N&N$;(OM/0&'n$]$=8($(M4<0$;O/4(5:N/M$N($4O&L&Q/M$=8($0/$%8?;'(0$%/0$'&M$
0/O?&M$N($M&'8N$/%8;&%:/0&'$]$N($M(58O:N&Nn$]
P:-$ &$ =8($ O(%:L&0$ ;O/4(%%:S0$ '(5&'$ ;'(0&$ ]$ (B(%4:P&6$ M:0$ N:M%O:?:0&%:S06$ %8&0N/$
;O(M4(0$M8M$M(OP:%:/M$%/?/$4O&L&Q&N/O(M$(M4&%:/0&'(M6$(P(048&'(M$/$?:5O&04(M6$
&MX$%/?/$%8&0N/$(M4<0$%/04O&4&N/M$;/O$(?;'(&N/O(M$N($?&0(O&$=8($O(%:L&0$
'/M$ L(0(B:%:/M$ N($ '&$ '(5:M'&%:S0$ ]$ '&$ ;Of%4:%&$ 0&%:/0&'(M6$ '/M$ =8($ N(L(0$ M(O$
&%/ON(M$ %/0$ ('$ N(O(%9/$ ]$ '&M$ 0/O?&M$ :04(O0&%:/0&'(M$ N($ N(O(%9/M$ 98?&0/M$
;&O&$(M4&$%&4(5/OX&$N($4O&L&Q&N/O(Mn
N-$ &M(58O&O$ =8($ '/M$ 4O&L&Q&N/O(M$ :0NX5(0&M$ ]$ M8M$ (?;'(&N/O(M$ (M4<0$ :0B/O?&N/M$
&%(O%&$N($'/M$N(O(%9/M$N($'/M$4O&L&Q&N/O(M$:0NX5(0&M$M(5c0$'&M$0/O?&M$0&%:/0&'(M$
]$('$N(O(%9/$:04(O0&%:/0&'$]$0/O?&M$:0NX5(0&M6$]$N($'/M$O(%8OM/M$]$&%%:/0(M$N($=8($
N:M;/05&0$;&O&$;O/4(5(O$(M/M$N(O(%9/M-
J-$ d/M$^M4&N/M$&N/;4&Of0$?(N:N&M$;&O&$;O/?/P(O$('$(?;'(/$N($'&M$;(OM/0&M$:0NX5(0&M-

27 ,/
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

?1.8(-&2+MUY+712."(($)*+6"&+7'.1$/2*$2+9-&.-1'&+J+6"+&'+712;$"6'6+0*."&"(.-'&
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$N(O(%9/$&'$;'(0/$O(%/0/%:?:(04/$]$O(M;(4/$&$'&$;O/;:(N&N6$
N/?:0:/6$;/M(M:S06$%/04O/'6$N(M&OO/''/$]$;O/4(%%:S0$N($M8$;&4O:?/0:/$%8'48O&'$?&4(O:&'$
($:0?&4(O:&'6$]$;O/;:(N&N$:04('(%48&'6$:0%'8](0N/$'&$0&48O&'(3&$%/'(%4:P&$N($'/M$?:M?/M6$
4O&0M?:4:N/$&$4O&P<M$N($'/M$?:'(0:/M6$N($5(0(O&%:S0$(0$5(0(O&%:S0-
1-$ d&$;O/;:(N&N$:04('(%48&'$%/'(%4:P&$N($'/M$;8(L'/M$:0NX5(0&M$%/?;O(0N(6$:04(O$&':&6$'/M$
%/0/%:?:(04/M$]$(C;O(M:/0(M$%8'48O&'(M$4O&N:%:/0&'(M$(04O($'/M$%8&'(M$M($(0%8(04O&0$
'/M$ %/0/%:?:(04/M$ 4O&N:%:/0&'(M$ &M/%:&N/M$ &$ '/M$ O(%8OM/M$ 5(0<4:%/M6$ '/M$ N:M(k/M$ ]$
;O/%(N:?:(04/M$ &0%(M4O&'(M6$ '&M$ ?&0:B(M4&%:/0(M$ %8'48O&'(M6$ &O4XM4:%&M6$ (M;:O:48&'(M6$
4(%0/'S5:%&M$]$%:(04XB:%&M6$('$;&4O:?/0:/$%8'48O&'$?&4(O:&'$($:0?&4(O:&'6$&MX$%/?/$'/M$
%/0/%:?:(04/M$]$N(M&OO/''/M$;O/;:/M$O('&%:/0&N/M$%/0$'&$L:/N:P(OM:N&N$]$'&$84:':N&N$]$
%8&':N&N(M$N($M(?:''&M6$'&M$;'&04&M$?(N:%:0&'(M6$'&$B'/O&$]$'&$B&80&-
+-$ d/M$^M4&N/M6$%/0$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&$N($'/M$;8(L'/M$:0NX5(0&M6$&N/;4&Of0$
'&M$?(N:N&M$0(%(M&O:&M$;&O&$=8($'/M$&%8(ON/M$]$O(5X?(0(M$0&%:/0&'(M$/$:04(O0&%:/0&'(M$
;O/P(&0$ ('$ O(%/0/%:?:(04/$ ]$ '&$ ;O/4(%%:S0$ &N(%8&N&$ N('$ ;&4O:?/0:/$ %8'48O&'$ ]$ '&$
;O/;:(N&N$ :04('(%48&'$ &M/%:&N&$ &$ N:%9/$ ;&4O:?/0:/$ N($ '/M$ ;8(L'/M$ :0NX5(0&M-$ ^0$
'&$ &N/;%:S0$ N($ (M4&M$ ?(N:N&M6$ M($ O(&':3&Of0$ %/0M8'4&M$ (0%&?:0&N&M$ &$ /L4(0(O$ ('$
%/0M(04:?:(04/$':LO(6$;O(P:/6$($:0B/O?&N/$N($'/M$;8(L'/M$:0NX5(0&M-$

?1.8(-&2+MVY+4"1"(52+'&+6"%'112&&2
!-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ?&04(0(O$ ]$ N(4(O?:0&O$ M8M$ ;O/;:&M$
;O:/O:N&N(M$(0$'/$O('&%:/0&N/$%/0$M8$N(M&OO/''/$;/'X4:%/6$(%/0S?:%/6$M/%:&'$]$%8'48O&'6$
N($%/0B/O?:N&N$%/0$M8$;O/;:&$%/M?/P:M:S0-$YM:?:M?/6$4:(0(0$('$N(O(%9/$&$=8($M($'(M$
5&O&04:%($('$N:MBO84($N($M8M$;O/;:/M$?(N:/M$N($M8LM:M4(0%:&$]$N(M&OO/''/$]$&$N(N:%&OM($
':LO(?(04($&$4/N&M$M8M$&%4:P:N&N(M$(%/0S?:%&M-
1-$ ^M4($N(O(%9/$:0%'8]($'&$('&L/O&%:S0$N($'&M$;/'X4:%&M6$;'&0(M6$;O/5O&?&M$]$(M4O&4(5:&M$
;&O&$ ('$ (Q(O%:%:/$ N($ M8$ N(O(%9/$ &'$ N(M&OO/''/$ ]$ '&$ :?;'(?(04&%:S0$ N($ &%8(ON/$ &$ M8$
/O5&0:3&%:S0$;/'X4:%&$]$M/%:&'6$0/O?&M$]$;O/%(N:?:(04/M6$M8M$;O/;:&M$%/M?/P:M:/0(M$($
:0M4:48%:/0(M-
+-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;&O4:%:;&O$ &%4:P&?(04($ (0$ '&$ ('&L/O&%:S0$ ]$
N(4(O?:0&%:S0$ N($ '/M$ ;O/5O&?&M$ N($ N(M&OO/''/$ =8($ '(M$ %/0%:(O0&0$ ]6$ (0$ '/$ ;/M:L'(6$
&N?:0:M4O&O$(M/M$;O/5O&?&M$?(N:&04($M8M$;O/;:&M$:0M4:48%:/0(M-
J-$ d/M$^M4&N/M$%('(LO&Of0$%/0M8'4&M$]$%//;(O&Of0$N($L8(0&$B($%/0$'/M$;8(L'/M$:0NX5(0&M$
:04(O(M&N/M$ ;/O$ %/0N8%4/$ N($ M8M$ ;O/;:&M$ :0M4:48%:/0(M$ O(;O(M(04&4:P&M$ &$ B:0$ N($
/L4(0(O$ M8$ %/0M(04:?:(04/$ ':LO($ ($ :0B/O?&N/$ &04(M$ N($ &;O/L&O$ %8&'=8:(O$ ;O/](%4/$
=8($&B(%4($&$M8M$4:(OO&M$/$4(OO:4/O:/M$]$/4O/M$O(%8OM/M6$;&O4:%8'&O?(04($(0$O('&%:S0$%/0$
('$N(M&OO/''/6$'&$84:':3&%:S0$/$'&$(C;'/4&%:S0$N($O(%8OM/M$?:0(O&'(M6$9XNO:%/M$/$N($/4O/$
4:;/-

,) 28
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

)-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$('$N(O(%9/$&$?(N:N&M$(B:%&%(M$;&O&$?:4:5&O$'/M$:?;&%4/M$
&NP(OM/M$(%/'S5:%/M6$(%/0S?:%/M6$M/%:&'(M6$%8'48O&'(M$/$(M;:O:48&'(M$;/O$'&$(Q(%8%:S0$
N($'/M$;O/](%4/M$N($N(M&OO/''/$=8($&B(%4(0$M8M$N(O(%9/M-$d/M$;8(L'/M$:0NX5(0&M$=8($
9&0$ M:N/$ N(M;/M(XN/M$ N($ M8M$ ;O/;:/M$ ?(N:/M$ N($ M8LM:M4(0%:&$ ]$ N(M&OO/''/$ 4:(0(0$
N(O(%9/$&$'&$O(M4:48%:S0$]6$%8&0N/$0/$M(&$;/M:L'(6$&$'&$:0N(?0:3&%:S0$Q8M4&$]$(=8:4&4:P&-$
^M4/$ :0%'8]($ ('$ N(O(%9/$ &$ '&$ %/?;(0M&%:S0$ ;/O$ %8&'=8:(O$ ;(OQ8:%:/$ =8($ M($ '(M$ 9&]&$
%&8M&N/$;/O$'&$(Q(%8%:S0$N($;'&0(M6$;O/5O&?&M$/$;O/](%4/M$N('$^M4&N/6$N($/O5&0:M?/M$
B:0&0%:(O/M$:04(O0&%:/0&'(M$/$N($(?;O(M&M$;O:P&N&M-

?1.8(-&2+QNY+4"1"(52+'+&'+;'[C+'+&'+%"#-1$6'6+J+'+&'+;12."(($)*
!-$ d/M$;8(L'/M$:0NX5(0&M$4:(0(0$('$N(O(%9/$&$'&$;&3$]$&$'&$M(58O:N&N-
1-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &'$ O(%/0/%:?:(04/$ ]$ O(M;(4/$ N($ M8M$ ;O/;:&M$
:0M4:48%:/0(M$;&O&$('$?&04(0:?:(04/$N($M8$/O5&0:3&%:S0$]$%/04O/'$N($M8M$%/?80:N&N(M$
]$;8(L'/M$
+-$ d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ ;O/4(%%:S0$ ]$ M(58O:N&N$ (0$ M:48&%:/0(M$
/$ ;(OX/N/M$ N($ %/0B':%4/$ &O?&N/$ :04(O0/$ /$ :04(O0&%:/0&'$ %/0B/O?($ &'$ N(O(%9/$
:04(O0&%:/0&'$98?&0:4&O:/-
J-$ d/M$^M4&N/M6$(0$%8?;':?:(04/$N($'/M$&%8(ON/M$:04(O0&%:/0&'(M$N($'/M$%8&'(M$M/0$;&O4(6$
(0$;&O4:%8'&O$('$N(O(%9/$:04(O0&%:/0&'$98?&0:4&O:/$]$('$N(O(%9/$:04(O0&%:/0&'$N($'/M$
N(O(%9/M$98?&0/M$:0%'8](0N/$('$Z8&O4/$Z/0P(0:/$N($>:0(LO&$N($!,J,$O('&4:P/$&$'&$
;O/4(%%:S0$ N(L:N&$ &$ '&M$ ;(OM/0&M$ %:P:'(M$ (0$ 4:(?;/$ N($ 58(OO&6$ ]$ ('$ VO/4/%/'/$ WW$ N($
!,HH$O('&4:P/$&$'&$;O/4(%%:S0$N($'&M$PX%4:?&M$N($'/M$%/0B':%4/M$&O?&N/M$M:0$%&Of%4(O$
:04(O0&%:/0&'6$ (0$ %&M/$ N($ %/0B':%4/M$ &O?&N/M$ 4/?&Of0$ ?(N:N&M$ &N(%8&N&M$ ;&O&$
;O/4(5(O$ '/M$ N(O(%9/M$ 98?&0/M6$ :0M4:48%:/0(M6$ 4:(OO&M6$ 4(OO:4/O:/M$ ]$ O(%8OM/M$ N($ '/M$
;8(L'/M$:0NX5(0&M$]$M8M$%/?80:N&N(M-$YM:?:M?/6$'/M$^M4&N/MD
&-$ T/$O(%'84&Of0$&$0:k/M6$0:k&M$]$&N/'(M%(04(M$:0NX5(0&M$(0$'&M$B8(O3&M$&O?&N&M$(0$
0:0580&$%:O%80M4&0%:&n
L-$ @/?&Of0$?(N:N&M$N($O(;&O&%:S0$(B(%4:P&$]$;O/;/O%:/0&Of0$'/M$O(%8OM/M$0(%(M&O:/M$
;&O&$ '&M$ ?:M?&M6$ %/0Q804&?(04($ %/0$ '/M$ ;8(L'/M$ :0NX5(0&M$ &B(%4&N/M6$ ;/O$ '/M$
;(OQ8:%:/M$/$N&k/M$/%&M:/0&N/M$;/O$80$%/0B':%4/$&O?&N/-
%-$ @/?&Of0$?(N:N&M$(M;(%:&'(M$]$(B(%4:P&M$^0$%/'&L/O&%:S0$%/0$'/M$;8(L'/M$:0NX5(0&M$
;&O&$ 5&O&04:3&O$ =8($ '&M$ ?8Q(O(M6$ 0:k/M$ ]$ 0:k&M$ :0NX5(0&M$ P:P&0$ ':LO(M$ N($ 4/N&$
B/O?&$N($P:/'(0%:&6$(M;(%:&'?(04($M(C8&'$]$5&O&04:3&Of0$('$N(O(%9/$N($&%%(M/$&$'&$
Q8M4:%:&6$'&$;O/4(%%:S0$]$O(;&O&%:S0$(B(%4:P&$N($'/M$N&k/M$%&8M&N/M$&$'&M$PX%4:?&M-
)-$ T/$M($N(M&OO/''&Of0$&%4:P:N&N(M$?:':4&O(M$(0$'&M$4:(OO&M$/$4(OO:4/O:/M$N($'/M$;8(L'/M$
:0NX5(0&M6$&$?(0/M$=8($'/$Q8M4:B:=8($80&$O&3S0$N($:04(O<M$;cL':%/$;(O4:0(04($/$=8($M($
9&]&$&%/ON&N/$':LO(?(04($%/0$'/M$;8(L'/M$:0NX5(0&M$:04(O(M&N/M6$/$=8($<M4/M$'/$9&]&0$
M/':%:4&N/-

29 ,*
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

B>990WL+B>_D?A+712K$%$2*"%+#"*"1'&"%
?1.8(-&2+QP
!-$ d/M$^M4&N/M$5&O&04:3&Of0$('$;'(0/$5/%($N($'/M$N(O(%9/M$%:P:'(M6$;/'X4:%/M6$(%/0S?:%/M6$
M/%:&'(M6$ %8'48O&'(M$ N($ '/M$ ;8(L'/M$ :0NX5(0&M6$ &MX$ %/?/$ M8$ N(O(%9/$ &$ ?&04(0(O$ M8$
:N(04:N&N$%8'48O&'6$$(M;:O:48&'$]$4O&N:%:S0$O(':5:/M&6$%/M?/P:M:S06$P&'/O(M$]$&$'&$;O/4(%%:S0$
N($M8M$'85&O(M$M&5O&N/M$]$N($%8'4/$]$N($4/N/M$'/M$N(O(%9/M$98?&0/M$%/04(0:N/M$(0$'&$
;O(M(04($R(%'&O&%:S0-$1-$d/M$^M4&N/M$;O/?/P(Of06$%/0$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&$
N($'/M$;8(L'/M$:0NX5(0&M6$'&$&N/;%:S0$N($'&M$?(N:N&M$'(5:M'&4:P&M$]$N($/4O&$X0N/'(6$=8($
B8(O&0$0(%(M&O:&M$;&O&$9&%(O$(B(%4:P/M$'/M$N(O(%9/M$O(%/0/%:N/M$(0$(M4&$R(%'&O&%:S0-

?1.8(-&2+QM
@/N/M$'/M$N(O(%9/M$]$':L(O4&N(M$O(%/0/%:N/M$(0$'&$;O(M(04($R(%'&O&%:S0$M($5&O&04:3&Of0$
;/O$:58&'$&$'&M$?8Q(O(M$]$'/M$9/?LO(M$:0NX5(0&M-

?1.8(-&2+QQ
d/M$ ;8(L'/M$ ]$ ;(OM/0&M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ O(%8OM/M$ (B(%4:P/M$ ($ :NS0(/M6$
:0%'8](0N/$'/M$O(%8OM/M$Q8N:%:&'(M$(C;(N:4/M6$;&O&$'&$O(;&O&%:S0$N($4/N&$P:/'&%:S0$N($M8M$
N(O(%9/M$%/'(%4:P/M$($:0N:P:N8&'(M-$d/M$^M4&N/M6$%/0$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&$N($
'/M$ ;8(L'/M$ :0NX5(0&M6$ ;O/P((Of0$ '/M$ ?(%&0:M?/M$ 0(%(M&O:/M$ ;&O&$ ('$ (Q(O%:%:/$ N($ (M4($
N(O(%9/-

?1.8(-&2+QR
^0$%&M/$N($%/0B':%4/M$]$%/04O/P(OM:&M$%/0$'/M$;8(L'/M$:0NX5(0&M6$'/M$^M4&N/M$;O/P((Of06$
%/0$'&$;&O4:%:;&%:S0$;'(0&$]$(B(%4:P&$N($N:%9/M$;8(L'/M6$?(%&0:M?/M$]$;O/%(N:?:(04/M$
Q8M4/M6$(=8:4&4:P/M$]$(B:%&%(M$;&O&$'&$;O/04&$O(M/'8%:S0$N($'/M$?:M?/M-$Y$(M4/M$B:0(M6$M($
N&Of$'&$N(L:N&$%/0M:N(O&%:S0$]$('$O(%/0/%:?:(04/$&$'&M$%/M48?LO(M6$'&M$4O&N:%:/0(M6$'&M$
0/O?&M$/$'/M$M:M4(?&M$Q8OXN:%/M$N($'/M$;8(L'/M$:0NX5(0&M$:04(O(M&N/M-

?1.8(-&2+QS
T&N&$ (0$ (M4&$ R(%'&O&%:S0$ ;8(N($ M(O$ :04(O;O(4&N/$ (0$ ('$ M(04:N/$ N($ ':?:4&O6$ O(M4O:05:O$ /$
0(5&O$(0$?&0(O&$&'580&$'/M$N(O(%9/M$98?&0/M6$/$(0$('$M(04:N/$N($&84/O:3&O$&%%:S0$&'580&$
=8($0/$(M4<$N($&%8(ON/$%/0$('$N(O(%9/$:04(O0&%:/0&'$N($'/M$N(O(%9/M$98?&0/M-

?1.8(-&2+QT
^0$('$(Q(O%:%:/$N($'/M$N(O(%9/M$(080%:&N/M$(0$'&$;O(M(04($R(%'&O&%:S06$M($O(M;(4&Of0$'/M$
N(O(%9/M$98?&0/M$]$'&M$':L(O4&N(M$B80N&?(04&'(M$N($4/N/M-$^'$(Q(O%:%:/$N($'/M$N(O(%9/M$
(M4&L'(%:N/M$(0$'&$;O(M(04($R(%'&O&%:S0$(M4&Of$M8Q(4/$(C%'8M:P&?(04($&$'&M$':?:4&%:/0(M$
N(4(O?:0&N&M$ ;/O$ '&$ '(]$ ]$ %/0$ &OO(5'/$ &$ '&M$ /L':5&%:/0(M$ :04(O0&%:/0&'(M$ (0$ ?&4(O:&$
N($ N(O(%9/M$ 98?&0/M-$ ^M&M$ ':?:4&%:/0(M$ 0/$ M(Of0$ N:M%O:?:0&4/O:&M$ ]$ M(Of0$ MS'/$ '&M$
(M4O:%4&?(04($ 0(%(M&O:&M$ ;&O&$ 5&O&04:3&O$ ('$ O(%/0/%:?:(04/$ ]$ O(M;(4/$ N(L:N/M$ &$ '/M$
N(O(%9/M$ ]$ '&M$ ':L(O4&N(M$ N($ '/M$ N(?fM$ ]$ ;&O&$ M&4:MB&%(O$ '&M$ Q8M4&M$ ]$ ?fM$ &;O(?:&04(M$

,+ 30
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

0(%(M:N&N(M$N($80&$M/%:(N&N$N(?/%Of4:%&-$d&M$N:M;/M:%:/0(M$(080%:&N&M$(0$'&$;O(M(04($
R(%'&O&%:S0$M($:04(O;O(4&Of0$%/0$&OO(5'/$&$'/M$;O:0%:;:/M$N($'&$Q8M4:%:&6$'&$N(?/%O&%:&6$('$
O(M;(4/$N($'/M$N(O(%9/M$98?&0/M6$'&$:58&'N&N6$'&$0/$N:M%O:?:0&%:S06$'&$L8(0&$5/L(O0&03&$
]$'&$L8(0&$B(-$

?1.8(-&2+QO
d/M$ ;8(L'/M$ :0NX5(0&M$ 4:(0(0$ N(O(%9/$ &$ O(%:L:O$ &M:M4(0%:&$ B:0&0%:(O&$ ]$ 4<%0:%&$ N($ '/M$
^M4&N/M$]$;/O$%/0N8%4/$N($'&$%//;(O&%:S0$:04(O0&%:/0&'$;&O&$('$N:MBO84($N($'/M$N(O(%9/M$
(080%:&N/M$(0$'&$;O(M(04($N(%'&O&%:S0-

?1.8(-&2+QU
d&$\O5&0:3&%:S0$N($'/M$^M4&N/M$Y?(O:%&0/M6$M8M$SO5&0/M6$/O5&0:M?/M$]$(04:N&N(M$4/?&Of0$
'&M$?(N:N&M$0(%(M&O:&M$;&O&$;O/?/P(O$('$;'(0/$O(M;(4/6$'&$;O/4(%%:S0$]$'&$&;':%&%:S0$N($
'&M$N:M;/M:%:/0(M$%/04(0:N&M$(0$(M4&$R(%'&O&%:S0$]$P('&Of0$;/O$M8$(B:%&%:&-

?1.8(-&2+QV
d&$0&48O&'(3&$]$('$&'%&0%($N($'&M$?(N:N&M$=8($N(L(Of0$M(O$4/?&N&M$;&O&$N&O$%8?;':?:(04/$
&$'&$;O(M(04($R(%'&O&%:S06$M(Of0$N(4(O?:0&N&M$N($&%8(ON/$%/0$('$(M;XO:48$]$;O/;SM:4/$N($
'&$?:M?&-

?1.8(-&2+RN
T:0580&$N:M;/M:%:S0$N($'&$;O(M(04($R(%'&O&%:S0$M($:04(O;O(4&Of$(0$('$M(04:N/$N($=8($':?:4($
/$?(0/M%&L($'/M$N(O(%9/M$=8($'/M$;8(L'/M$:0NX5(0&M$5/3&0$(0$'&$&%48&':N&N$/$=8($;8(N&0$
&N=8:O:O$(0$('$B848O/-

?1.8(-&2+RP
d/M$N(O(%9/M$O(%/0/%:N/M$(0$(M4&$R(%'&O&%:S0$]$'&$R(%'&O&%:S0$N($'&M$T&%:/0(M$U0:N&M$
M/LO($ '/M$ R(O(%9/M$ N($ '/M$ V8(L'/M$ W0NX5(0&M$ %/0M4:48](0$ '&M$ 0/O?&M$ ?X0:?&M$ ;&O&$ '&$
M8;(OP:P(0%:&6$N:50:N&N$]$L:(0(M4&O$N($'/M$;8(L'/M$:0NX5(0&M$N($'&M$Y?<O:%&M-

31 ,"
,&
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

Tratados y Convenios
Internacionales

33
,
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+
92*K"*$2+PTV+6"+&'+=0D+%231"++
7-"3&2%+0*68#"*'%+J+D1$3'&"%+
<PVUV@

7'1."+0Y+72&8.$('+,"*"1'&
?1.8(-&2+P
!-$ ^'$;O(M(04($Z/0P(0:/$M($&;':%&D
E&G$&$ '/M$ ;8(L'/M$ 4O:L&'(M$ (0$ ;&XM(M$ :0N(;(0N:(04(M6$ %8]&M$ %/0N:%:/0(M$ M/%:&'(M6$
%8'48O&'(M$]$(%/0S?:%&M$'(M$N:M4:05&0$N($/4O/M$M(%4/O(M$N($'&$%/'(%4:P:N&N$0&%:/0&'6$
]$=8($(M4<0$O(5:N/M$4/4&'$/$;&O%:&'?(04($;/O$M8M$;O/;:&M$%/M48?LO(M$/$4O&N:%:/0(M$
/$;/O$80&$'(5:M'&%:S0$(M;(%:&'n
ELG$&$'/M$;8(L'/M$(0$;&XM(M$:0N(;(0N:(04(M6$%/0M:N(O&N/M$:0NX5(0&M$;/O$('$9(%9/$N($
N(M%(0N(O$ N($ ;/L'&%:/0(M$ =8($ 9&L:4&L&0$ (0$ ('$ ;&XM$ /$ (0$ 80&$ O(5:S0$ 5(/5OfB:%&$
&$ '&$ =8($ ;(O4(0(%($ ('$ ;&XM$ (0$ '&$ <;/%&$ N($ '&$ %/0=8:M4&$ /$ '&$ %/'/0:3&%:S0$ /$ N('$
(M4&L'(%:?:(04/$N($'&M$&%48&'(M$BO/04(O&M$(M4&4&'(M$]$=8(6$%8&'=8:(O&$=8($M(&$M8$
M:48&%:S0$Q8OXN:%&6$%/0M(OP&0$4/N&M$M8M$;O/;:&M$:0M4:48%:/0(M$M/%:&'(M6$(%/0S?:%&M6$
%8'48O&'(M$]$;/'X4:%&M6$/$;&O4($N($(''&M-

,# 34
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

1-$ d&$ %/0%:(0%:&$ N($ M8$ :N(04:N&N$ :0NX5(0&$ /$ 4O:L&'$ N(L(Of$ %/0M:N(O&OM($ 80$ %O:4(O:/$
B80N&?(04&'$ ;&O&$ N(4(O?:0&O$ '/M$ 5O8;/M$ &$ '/M$ =8($ M($ &;':%&0$ '&M$ N:M;/M:%:/0(M$ N('$
;O(M(04($Z/0P(0:/-
+-$ d&$ 84:':3&%:S0$ N('$ 4<O?:0/$ ;8(L'/M$ (0$ (M4($ Z/0P(0:/$ 0/$ N(L(Of$ :04(O;O(4&OM($ (0$ ('$
M(04:N/$N($=8($4(05&$:?;':%&%:S0$&'580&$(0$'/$=8($&4&k($&$'/M$N(O(%9/M$=8($;8(N&$
%/0B(O:OM($&$N:%9/$4<O?:0/$(0$('$N(O(%9/$:04(O0&%:/0&'-

?1.8(-&2+M
!-$ d/M$5/L:(O0/M$N(L(Of0$&M8?:O$'&$O(M;/0M&L:':N&N$N($N(M&OO/''&O6$%/0$'&$;&O4:%:;&%:S0$
N($'/M$;8(L'/M$:04(O(M&N/M6$80&$&%%:S0$%//ON:0&N&$]$M:M4(?f4:%&$%/0$?:O&M$&$;O/4(5(O$
'/M$N(O(%9/M$N($(M/M$;8(L'/M$]$&$5&O&04:3&O$('$O(M;(4/$N($M8$:04(5O:N&N-
1-$ ^M4&$&%%:S0$N(L(Of$:0%'8:O$?(N:N&MD
E&G$=8($&M(58O(0$&$'/M$?:(?LO/M$N($N:%9/M$;8(L'/M$5/3&O6$(0$;:($N($:58&'N&N6$N($'/M$
N(O(%9/M$]$/;/O480:N&N(M$=8($'&$'(5:M'&%:S0$0&%:/0&'$/4/O5&$&$'/M$N(?fM$?:(?LO/M$
N($'&$;/L'&%:S0n
ELG$=8($ ;O/?8(P&0$ '&$ ;'(0&$ (B(%4:P:N&N$ N($ '/M$ N(O(%9/M$ M/%:&'(M6$ (%/0S?:%/M$
]$ %8'48O&'(M$ N($ (M/M$ ;8(L'/M6$ O(M;(4&0N/$ M8$ :N(04:N&N$ M/%:&'$ ]$ %8'48O&'6$ M8M$
%/M48?LO(M$]$4O&N:%:/0(M6$]$M8M$:0M4:48%:/0(Mn
E%G$=8($&]8N(0$&$'/M$?:(?LO/M$N($'/M$;8(L'/M$:04(O(M&N/M$&$(':?:0&O$'&M$N:B(O(0%:&M$
M/%:/(%/0S?:%&M$ =8($ ;8(N&0$ (C:M4:O$ (04O($ '/M$ ?:(?LO/M$ :0NX5(0&M$ ]$ '/M$ N(?fM$
?:(?LO/M$ N($ '&$ %/?80:N&N$ 0&%:/0&'6$ N($ 80&$ ?&0(O&$ %/?;&4:L'($ %/0$ M8M$
&M;:O&%:/0(M$]$B/O?&M$N($P:N&-

?1.8(-&2+Q
!-$ d/M$;8(L'/M$:0NX5(0&M$]$4O:L&'(M$N(L(Of0$5/3&O$;'(0&?(04($N($'/M$N(O(%9/M$98?&0/M$
]$ ':L(O4&N(M$ B80N&?(04&'(M6$ M:0$ /LM4f%8'/M$ 0:$ N:M%O:?:0&%:S0-$ d&M$ N:M;/M:%:/0(M$
N($ (M4($ Z/0P(0:/$ M($ &;':%&Of0$ M:0$ N:M%O:?:0&%:S0$ &$ '/M$ 9/?LO(M$ ]$ ?8Q(O(M$ N($ (M/M$
;8(L'/M-
1-$ T/$N(L(Of$(?;'(&OM($0:0580&$B/O?&$N($B8(O3&$/$N($%/(O%:S0$=8($P:/'($'/M$N(O(%9/M$
98?&0/M$ ]$ '&M$ ':L(O4&N(M$ B80N&?(04&'(M$ N($ '/M$ ;8(L'/M$ :04(O(M&N/M6$ :0%'8:N/M$ '/M$
N(O(%9/M$%/04(0:N/M$(0$('$;O(M(04($Z/0P(0:/-

?1.8(-&2+R
!-$ R(L(Of0$ &N/;4&OM($ '&M$ ?(N:N&M$ (M;(%:&'(M$ =8($ M($ ;O(%:M(0$ ;&O&$ M&'P&58&ON&O$ '&M$
;(OM/0&M6$'&M$:0M4:48%:/0(M6$'/M$L:(0(M6$('$4O&L&Q/6$'&M$%8'48O&M$]$('$?(N:/$&?L:(04($N($
'/M$;8(L'/M$:04(O(M&N/M-
1-$ @&'(M$?(N:N&M$(M;(%:&'(M$0/$N(L(Of0$M(O$%/04O&O:&M$&$'/M$N(M(/M$(C;O(M&N/M$':LO(?(04($
;/O$'/M$;8(L'/M$:04(O(M&N/M-

35 ,$
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+-$ ^'$5/%($M:0$N:M%O:?:0&%:S0$N($'/M$N(O(%9/M$5(0(O&'(M$N($%:8N&N&0X&$0/$N(L(Of$M8BO:O$
?(0/M%&L/$&'580/$%/?/$%/0M(%8(0%:&$N($4&'(M$?(N:N&M$(M;(%:&'(M-

?1.8(-&2+S
Y'$&;':%&O$'&M$N:M;/M:%:/0(M$N('$;O(M(04($Z/0P(0:/D
E&G$N(L(Of0$ O(%/0/%(OM($ ]$ ;O/4(5(OM($ '/M$ P&'/O(M$ ]$ ;Of%4:%&M$ M/%:&'(M6$ %8'48O&'(M6$
O(':5:/M/M$]$(M;:O:48&'(M$;O/;:/M$N($N:%9/M$;8(L'/M$]$N(L(Of$4/?&OM($N(L:N&?(04($
(0$%/0M:N(O&%:S0$'&$X0N/'($N($'/M$;O/L'(?&M$=8($M($'(M$;'&04(&0$4&04/$%/'(%4:P&$
%/?/$:0N:P:N8&'?(04(n
ELG$N(L(Of$O(M;(4&OM($'&$:04(5O:N&N$N($'/M$P&'/O(M6$;Of%4:%&M$($:0M4:48%:/0(M$N($(M/M$
;8(L'/Mn
E%G$N(L(Of0$&N/;4&OM(6$%/0$'&$;&O4:%:;&%:S0$]$%//;(O&%:S0$N($'/M$;8(L'/M$:04(O(M&N/M6$
?(N:N&M$(0%&?:0&N&M$&$&''&0&O$'&M$N:B:%8'4&N(M$=8($(C;(O:?(04(0$N:%9/M$;8(L'/M$
&'$&BO/04&O$08(P&M$%/0N:%:/0(M$N($P:N&$]$N($4O&L&Q/-

?1.8(-&2+T
!-$ Y'$&;':%&O$'&M$N:M;/M:%:/0(M$N('$;O(M(04($Z/0P(0:/6$'/M$5/L:(O0/M$N(L(Of0D
E&G$ %/0M8'4&O$ &$ '/M$ ;8(L'/M$ :04(O(M&N/M6$ ?(N:&04($ ;O/%(N:?:(04/M$ &;O/;:&N/M$ ]$ (0$
;&O4:%8'&O$&$4O&P<M$N($M8M$:0M4:48%:/0(M$O(;O(M(04&4:P&M6$%&N&$P(3$=8($M($;O(P(&0$
?(N:N&M$'(5:M'&4:P&M$/$&N?:0:M4O&4:P&M$M8M%(;4:L'(M$N($&B(%4&O'(M$N:O(%4&?(04(n
ELG$ (M4&L'(%(O$ '/M$ ?(N:/M$ &$ 4O&P<M$ N($ '/M$ %8&'(M$ '/M$ ;8(L'/M$ :04(O(M&N/M$ ;8(N&0$
;&O4:%:;&O$ ':LO(?(04(6$ ;/O$ '/$ ?(0/M$ (0$ '&$ ?:M?&$ ?(N:N&$ =8($ /4O/M$ M(%4/O(M$ N($
'&$;/L'&%:S06$]$&$4/N/M$'/M$0:P('(M$(0$'&$&N/;%:S0$N($N(%:M:/0(M$(0$:0M4:48%:/0(M$
('(%4:P&M$]$/O5&0:M?/M$&N?:0:M4O&4:P/M$]$N($/4O&$X0N/'($O(M;/0M&L'(M$N($;/'X4:%&M$
]$;O/5O&?&M$=8($'(M$%/0%:(O0&0n
E%G$(M4&L'(%(O$'/M$?(N:/M$;&O&$('$;'(0/$N(M&OO/''/$N($'&M$:0M4:48%:/0(M$($:0:%:&4:P&M$N($
(M/M$;8(L'/M6$]$(0$'/M$%&M/M$&;O/;:&N/M$;O/;/O%:/0&O$'/M$O(%8OM/M$0(%(M&O:/M$;&O&$
(M4($B:0-
1-$ d&M$%/0M8'4&M$''(P&N&M$&$%&L/$(0$&;':%&%:S0$N($(M4($Z/0P(0:/$N(L(Of0$(B(%48&OM($N($
L8(0&$B($]$N($80&$?&0(O&$&;O/;:&N&$&$'&M$%:O%80M4&0%:&M6$%/0$'&$B:0&':N&N$N($''(5&O$&$
80$&%8(ON/$/$'/5O&O$('$%/0M(04:?:(04/$&%(O%&$N($'&M$?(N:N&M$;O/;8(M4&M-

?1.8(-&2+O
!-$ d/M$;8(L'/M$:04(O(M&N/M$N(L(Of0$4(0(O$('$N(O(%9/$N($N(%:N:O$M8M$;O/;:&M$;O:/O:N&N(M$
(0$'/$=8($&4&k($&'$;O/%(M/$N($N(M&OO/''/6$(0$'&$?(N:N&$(0$=8($<M4($&B(%4($&$M8M$P:N&M6$
%O((0%:&M6$ :0M4:48%:/0(M$ ]$ L:(0(M4&O$ (M;:O:48&'$ ]$ &$ '&M$ 4:(OO&M$ =8($ /%8;&0$ /$ 84:':3&0$
N($ &'580&$ ?&0(O&6$ ]$ N($ %/04O/'&O6$ (0$ '&$ ?(N:N&$ N($ '/$ ;/M:L'(6$ M8$ ;O/;:/$ N(M&OO/''/$
(%/0S?:%/6$ M/%:&'$ ]$ %8'48O&'-$ YN(?fM6$ N:%9/M$ ;8(L'/M$ N(L(Of0$ ;&O4:%:;&O$ (0$ '&$

,' 36
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

B/O?8'&%:S06$&;':%&%:S0$]$(P&'8&%:S0$N($'/M$;'&0(M$]$;O/5O&?&M$N($N(M&OO/''/$0&%:/0&'$
]$O(5:/0&'$M8M%(;4:L'(M$N($&B(%4&O'(M$N:O(%4&?(04(-
1-$ ^'$?(Q/O&?:(04/$N($'&M$%/0N:%:/0(M$N($P:N&$]$N($4O&L&Q/$]$N('$0:P('$N($M&'8N$]$(N8%&%:S0$
N($'/M$;8(L'/M$:04(O(M&N/M6$%/0$M8$;&O4:%:;&%:S0$]$%//;(O&%:S06$N(L(Of$M(O$;O:/O:4&O:/$
(0$ '/M$ ;'&0(M$ N($ N(M&OO/''/$ (%/0S?:%/$ 5'/L&'$ N($ '&M$ O(5:/0(M$ N/0N($ 9&L:4&0-$ d/M$
;O/](%4/M$(M;(%:&'(M$N($N(M&OO/''/$;&O&$(M4&M$O(5:/0(M$N(L(Of0$4&?L:<0$('&L/O&OM($
N($?/N/$=8($;O/?8(P&0$N:%9/$?(Q/O&?:(04/-
+-$ d/M$5/L:(O0/M$N(L(Of0$P('&O$;/O$=8(6$M:(?;O($=8($9&]&$'85&O6$M($(B(%4c(0$(M48N:/M6$
(0$ %//;(O&%:S0$ %/0$ '/M$ ;8(L'/M$ :04(O(M&N/M6$ &$ B:0$ N($ (P&'8&O$ '&$ :0%:N(0%:&$ M/%:&'6$
(M;:O:48&'$ ]$ %8'48O&'$ ]$ M/LO($ ('$ ?(N:/$ &?L:(04($ =8($ '&M$ &%4:P:N&N(M$ N($ N(M&OO/''/$
;O(P:M4&M$;8(N&0$4(0(O$M/LO($(M/M$;8(L'/M-$d/M$O(M8'4&N/M$N($(M4/M$(M48N:/M$N(L(Of0$
M(O$%/0M:N(O&N/M$%/?/$%O:4(O:/M$B80N&?(04&'(M$;&O&$'&$(Q(%8%:S0$N($'&M$&%4:P:N&N(M$
?(0%:/0&N&M-
J-$ d/M$5/L:(O0/M$N(L(Of0$4/?&O$?(N:N&M6$(0$%//;(O&%:S0$%/0$'/M$;8(L'/M$:04(O(M&N/M6$
;&O&$;O/4(5(O$]$;O(M(OP&O$('$?(N:/$&?L:(04($N($'/M$4(OO:4/O:/M$=8($9&L:4&0-

?1.8(-&2+U
!-$ Y'$ &;':%&O$ '&$ '(5:M'&%:S0$ 0&%:/0&'$ &$ '/M$ ;8(L'/M$ :04(O(M&N/M$ N(L(Of0$ 4/?&OM($
N(L:N&?(04($(0$%/0M:N(O&%:S0$M8M$%/M48?LO(M$/$M8$N(O(%9/$%/0M8(48N:0&O:/-
1-$ R:%9/M$;8(L'/M$N(L(Of0$4(0(O$('$N(O(%9/$N($%/0M(OP&O$M8M$%/M48?LO(M$($:0M4:48%:/0(M$
;O/;:&M6$ M:(?;O($ =8($ <M4&M$ 0/$ M(&0$ :0%/?;&4:L'(M$ %/0$ '/M$ N(O(%9/M$ B80N&?(04&'(M$
N(B:0:N/M$ ;/O$ ('$ M:M4(?&$ Q8OXN:%/$ 0&%:/0&'$ 0:$ %/0$ '/M$ N(O(%9/M$ 98?&0/M$
:04(O0&%:/0&'?(04($ O(%/0/%:N/M-$ 7:(?;O($ =8($ M(&$ 0(%(M&O:/6$ N(L(Of0$ (M4&L'(%(OM($
;O/%(N:?:(04/M$;&O&$M/'8%:/0&O$'/M$%/0B':%4/M$=8($;8(N&0$M8O5:O$(0$'&$&;':%&%:S0$N($
(M4($;O:0%:;:/-
+-$ d&$&;':%&%:S0$N($'/M$;fOO&B/M$!$]$1$N($(M4($&O4X%8'/$0/$N(L(Of$:?;(N:O$&$'/M$?:(?LO/M$
N($N:%9/M$;8(L'/M$(Q(O%(O$'/M$N(O(%9/M$O(%/0/%:N/M$&$4/N/M$'/M$%:8N&N&0/M$N('$;&XM$]$
&M8?:O$'&M$/L':5&%:/0(M$%/OO(M;/0N:(04(M-

?1.8(-&2+V
!-$ ^0$'&$?(N:N&$(0$=8($(''/$M(&$%/?;&4:L'($%/0$('$M:M4(?&$Q8OXN:%/$0&%:/0&'$]$%/0$'/M$
N(O(%9/M$98?&0/M$:04(O0&%:/0&'?(04($O(%/0/%:N/M6$N(L(Of0$O(M;(4&OM($'/M$?<4/N/M$
&$'/M$=8($'/M$;8(L'/M$:04(O(M&N/M$O(%8OO(0$4O&N:%:/0&'?(04($;&O&$'&$O(;O(M:S0$N($'/M$
N(':4/M$%/?(4:N/M$;/O$M8M$?:(?LO/M-
1-$ d&M$&84/O:N&N(M$]$'/M$4O:L80&'(M$''&?&N/M$&$;O/080%:&OM($M/LO($%8(M4:/0(M$;(0&'(M$
N(L(Of0$4(0(O$(0$%8(04&$'&M$%/M48?LO(M$N($N:%9/M$;8(L'/M$(0$'&$?&4(O:&-

37 ,%
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

?1.8(-&2+PN
!-$ Z8&0N/$M($:?;/05&0$M&0%:/0(M$;(0&'(M$;O(P:M4&M$;/O$'&$'(5:M'&%:S0$5(0(O&'$&$?:(?LO/M$
N($N:%9/M$;8(L'/M$N(L(Of0$4(0(OM($(0$%8(04&$M8M$%&O&%4(OXM4:%&M$(%/0S?:%&M6$M/%:&'(M$
]$%8'48O&'(M-
1-$ R(L(Of$N&OM($'&$;O(B(O(0%:&$&$4:;/M$N($M&0%:S0$N:M4:04/M$N('$(0%&O%('&?:(04/-

?1.8(-&2+PP
d&$'(]$N(L(Of$;O/9:L:O$]$M&0%:/0&O$'&$:?;/M:%:S0$&$?:(?LO/M$N($'/M$;8(L'/M$:04(O(M&N/M$
N($M(OP:%:/M$;(OM/0&'(M$/L':5&4/O:/M$N($%8&'=8:(O$X0N/'(6$O(?80(O&N/M$/$0/6$(C%(;4/$(0$
'/M$%&M/M$;O(P:M4/M$;/O$'&$'(]$;&O&$4/N/M$'/M$%:8N&N&0/M-

?1.8(-&2+PM
d/M$;8(L'/M$:04(O(M&N/M$N(L(Of0$4(0(O$;O/4(%%:S0$%/04O&$'&$P:/'&%:S0$N($M8M$N(O(%9/M6$
]$ ;/N(O$ :0:%:&O$ ;O/%(N:?:(04/M$ '(5&'(M6$ M(&$ ;(OM/0&'?(04($ /$ L:(0$ ;/O$ %/0N8%4/$ N($
M8M$ /O5&0:M?/M$ O(;O(M(04&4:P/M6$ ;&O&$ &M(58O&O$ ('$ O(M;(4/$ (B(%4:P/$ N($ 4&'(M$ N(O(%9/M-$
R(L(Of0$4/?&OM($?(N:N&M$;&O&$5&O&04:3&O$=8($'/M$?:(?LO/M$N($N:%9/M$;8(L'/M$;8(N&0$
%/?;O(0N(O$ ]$ 9&%(OM($ %/?;O(0N(O$ (0$ ;O/%(N:?:(04/M$ '(5&'(M6$ B&%:':4f0N/'(M6$ M:$ B8(O($
0(%(M&O:/6$:04<O;O(4(M$8$/4O/M$?(N:/M$(B:%&%(M-

7'1."+00Y+D$"11'%
?1.8(-&2+PQ
!-$ Y'$&;':%&O$'&M$N:M;/M:%:/0(M$N($(M4&$;&O4($N('$Z/0P(0:/6$'/M$5/L:(O0/M$N(L(Of0$O(M;(4&O$
'&$ :?;/O4&0%:&$ (M;(%:&'$ =8($ ;&O&$ '&M$ %8'48O&M$ ]$ P&'/O(M$ (M;:O:48&'(M$ N($ '/M$ ;8(L'/M$
:04(O(M&N/M$O(P:M4($M8$O('&%:S0$%/0$'&M$4:(OO&M$/$4(OO:4/O:/M6$/$%/0$&?L/M6$M(5c0$'/M$
%&M/M6$ =8($ /%8;&0$ /$ 84:':3&0$ N($ &'580&$ /4O&$ ?&0(O&6$ ]$ (0$ ;&O4:%8'&O$ '/M$ &M;(%4/M$
%/'(%4:P/M$N($(M&$O('&%:S0-
1-$ d&$84:':3&%:S0$N('$4<O?:0/$4:(OO&M$(0$'/M$&O4X%8'/M$!)$]$![$N(L(Of$:0%'8:O$('$%/0%(;4/$
N($4(OO:4/O:/M6$'/$=8($%8LO($'&$4/4&':N&N$N('$9fL:4&4$N($'&M$O(5:/0(M$=8($'/M$;8(L'/M$
:04(O(M&N/M$/%8;&0$/$84:':3&0$N($&'580&$/4O&$?&0(O&-

?1.8(-&2+PR
!-$ R(L(Of$O(%/0/%(OM($&$'/M$;8(L'/M$:04(O(M&N/M$('$N(O(%9/$N($;O/;:(N&N$]$N($;/M(M:S0$
M/LO($ '&M$ 4:(OO&M$ =8($ 4O&N:%:/0&'?(04($ /%8;&0-$ YN(?fM6$ (0$ '/M$ %&M/M$ &;O/;:&N/M6$
N(L(Of0$4/?&OM($?(N:N&M$;&O&$M&'P&58&ON&O$('$N(O(%9/$N($'/M$;8(L'/M$:04(O(M&N/M$&$
84:':3&O$4:(OO&M$=8($0/$(M4<0$(C%'8M:P&?(04($/%8;&N&M$;/O$(''/M6$;(O/$&$'&M$=8($9&]&0$
4(0:N/$4O&N:%:/0&'?(04($&%%(M/$;&O&$M8M$&%4:P:N&N(M$4O&N:%:/0&'(M$]$N($M8LM:M4(0%:&-$
Y$ (M4($ O(M;(%4/6$ N(L(Of$ ;O(M4&OM($ ;&O4:%8'&O$ &4(0%:S0$ &$ '&$ M:48&%:S0$ N($ '/M$ ;8(L'/M$
0S?&N&M$]$N($'/M$&5O:%8'4/O(M$:4:0(O&04(M-

, 38
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

1-$ d/M$5/L:(O0/M$N(L(Of0$4/?&O$'&M$?(N:N&M$=8($M(&0$0(%(M&O:&M$;&O&$N(4(O?:0&O$'&M$
4:(OO&M$=8($'/M$;8(L'/M$:04(O(M&N/M$/%8;&0$4O&N:%:/0&'?(04($]$5&O&04:3&O$'&$;O/4(%%:S0$
(B(%4:P&$N($M8M$N(O(%9/M$N($;O/;:(N&N$]$;/M(M:S0-
+-$ R(L(Of0$ :0M4:48:OM($ ;O/%(N:?:(04/M$ &N(%8&N/M$ (0$ ('$ ?&O%/$ N('$ M:M4(?&$ Q8OXN:%/$
0&%:/0&'$;&O&$M/'8%:/0&O$'&M$O(:P:0N:%&%:/0(M$N($4:(OO&M$B/O?8'&N&M$;/O$'/M$;8(L'/M$
:04(O(M&N/M-

?1.8(-&2+PS
!-$ d/M$N(O(%9/M$N($'/M$;8(L'/M$:04(O(M&N/M$&$'/M$O(%8OM/M$0&48O&'(M$(C:M4(04(M$(0$M8M$
4:(OO&M$N(L(Of0$;O/4(5(OM($(M;(%:&'?(04(-$^M4/M$N(O(%9/M$%/?;O(0N(0$('$N(O(%9/$N($
(M/M$;8(L'/M$&$;&O4:%:;&O$(0$'&$84:':3&%:S06$&N?:0:M4O&%:S0$]$%/0M(OP&%:S0$N($N:%9/M$
O(%8OM/M-
1-$ ^0$%&M/$N($=8($;(O4(0(3%&$&'$^M4&N/$'&$;O/;:(N&N$N($'/M$?:0(O&'(M$/$N($'/M$O(%8OM/M$
N('$ M8LM8('/6$ /$ 4(05&$ N(O(%9/M$ M/LO($ /4O/M$ O(%8OM/M$ (C:M4(04(M$ (0$ '&M$ 4:(OO&M6$ '/M$
5/L:(O0/M$ N(L(Of0$ (M4&L'(%(O$ /$ ?&04(0(O$ ;O/%(N:?:(04/M$ %/0$ ?:O&M$ &$ %/0M8'4&O$ &$
'/M$;8(L'/M$:04(O(M&N/M6$&$B:0$N($N(4(O?:0&O$M:$'/M$:04(O(M(M$N($(M/M$;8(L'/M$M(OX&0$
;(OQ8N:%&N/M6$]$(0$=8<$?(N:N&6$&04(M$N($(?;O(0N(O$/$&84/O:3&O$%8&'=8:(O$;O/5O&?&$
N($;O/M;(%%:S0$/$(C;'/4&%:S0$N($'/M$O(%8OM/M$(C:M4(04(M$(0$M8M$4:(OO&M-$d/M$;8(L'/M$
:04(O(M&N/M$N(L(Of0$;&O4:%:;&O$M:(?;O($=8($M(&$;/M:L'($(0$'/M$L(0(B:%:/M$=8($O(;/O4(0$
4&'(M$ &%4:P:N&N(M6$ ]$ ;(O%:L:O$ 80&$ :0N(?0:3&%:S0$ (=8:4&4:P&$ ;/O$ %8&'=8:(O$ N&k/$ =8($
;8(N&0$M8BO:O$%/?/$O(M8'4&N/$N($(M&M$&%4:P:N&N(M-

?1.8(-&2+PT
!-$ Y$ O(M(OP&$ N($ '/$ N:M;8(M4/$ (0$ '/M$ ;fOO&B/M$ M:58:(04(M$ N($ (M4($ &O4X%8'/6$ '/M$ ;8(L'/M$
:04(O(M&N/M$0/$N(L(Of0$M(O$4O&M'&N&N/M$N($'&M$4:(OO&M$=8($/%8;&0-
1-$ Z8&0N/$(C%(;%:/0&'?(04($('$4O&M'&N/$]$'&$O(8L:%&%:S0$N($(M/M$;8(L'/M$M($%/0M:N(O(0$
0(%(M&O:/M6$ MS'/$ N(L(Of0$ (B(%48&OM($ %/0$ M8$ %/0M(04:?:(04/6$ N&N/$ ':LO(?(04($ ]$ %/0$
;'(0/$ %/0/%:?:(04/$ N($ %&8M&-$ Z8&0N/$ 0/$ ;8(N&$ /L4(0(OM($ M8$ %/0M(04:?:(04/6$ ('$
4O&M'&N/$ ]$ '&$ O(8L:%&%:S0$ MS'/$ N(L(Of$ 4(0(O$ '85&O$ &'$ 4<O?:0/$ N($ ;O/%(N:?:(04/M$
&N(%8&N/M$ (M4&L'(%:N/M$ ;/O$ '&$ '(5:M'&%:S0$ 0&%:/0&'6$ :0%'8:N&M$ (0%8(M4&M$ ;cL':%&M6$
%8&0N/$ 9&]&$ '85&O6$ (0$ =8($ '/M$ ;8(L'/M$ :04(O(M&N/M$ 4(05&0$ '&$ ;/M:L:':N&N$ N($ (M4&O$
(B(%4:P&?(04($O(;O(M(04&N/M-
+-$ 7:(?;O($=8($M(&$;/M:L'(6$(M4/M$;8(L'/M$N(L(Of0$4(0(O$('$N(O(%9/$N($O(5O(M&O$&$M8M$
4:(OO&M$4O&N:%:/0&'(M$(0$%8&04/$N(Q(0$N($(C:M4:O$'&$%&8M&M$=8($?/4:P&O/0$M8$4O&M'&N/$]$
O(8L:%&%:S0-
J-$ Z8&0N/$('$O(4/O0/$0/$M(&$;/M:L'(6$4&'$%/?/$M($N(4(O?:0($;/O$&%8(ON/$/6$(0$&8M(0%:&$
N($4&'(M$&%8(ON/M6$;/O$?(N:/$N($;O/%(N:?:(04/M$&N(%8&N/M6$N:%9/M$;8(L'/M$N(L(Of0$
O(%:L:O6$ (0$ 4/N/M$ '/M$ %&M/M$ ;/M:L'(M6$ 4:(OO&M$ %8]&$ %&':N&N$ ]$ %8]/$ (M4&484/$ Q8OXN:%/$
M(&0$ ;/O$ '/$ ?(0/M$ :58&'(M$ &$ '/M$ N($ '&M$ 4:(OO&M$ =8($ /%8;&L&0$ &04(O:/O?(04(6$ ]$ =8($
'(M$ ;(O?:4&0$ M8LP(0:O$ &$ M8M$ 0(%(M:N&N(M$ ]$ 5&O&04:3&O$ M8$ N(M&OO/''/$ B848O/-$ Z8&0N/$

39 ,
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

'/M$;8(L'/M$:04(O(M&N/M$;O(B:(O&0$O(%:L:O$80&$:0N(?0:3&%:S0$(0$N:0(O/$/$(0$(M;(%:(6$
N(L(Of$%/0%(N<OM('(M$N:%9&$:0N(?0:3&%:S06$%/0$'&M$5&O&04X&M$&;O/;:&N&M-
)-$ R(L(Of$ :0N(?0:3&OM($ ;'(0&?(04($ &$ '&M$ ;(OM/0&M$ 4O&M'&N&N&M$ ]$ O(8L:%&N&M$ ;/O$
%8&'=8:(O$;<ON:N&$/$N&k/$=8($9&]&0$M8BO:N/$%/?/$%/0M(%8(0%:&$N($M8$N(M;'&3&?:(04/-

?1.8(-&2+PO
!-$ R(L(Of0$O(M;(4&OM($'&M$?/N&':N&N(M$N($4O&0M?:M:S0$N($'/M$N(O(%9/M$M/LO($'&$4:(OO&$
(04O($'/M$?:(?LO/M$N($'/M$;8(L'/M$:04(O(M&N/M$(M4&L'(%:N&M$;/O$N:%9/M$;8(L'/M-
1-$ R(L(Of$%/0M8'4&OM($&$'/M$;8(L'/M$:04(O(M&N/M$M:(?;O($=8($M($%/0M:N(O($M8$%&;&%:N&N$
N($(0&Q(0&O$M8M$4:(OO&M$/$N($4O&0M?:4:O$N($/4O&$B/O?&$M8M$N(O(%9/M$M/LO($(M4&M$4:(OO&M$
B8(O&$N($M8$%/?80:N&N-
+-$ R(L(Of$ :?;(N:OM($ =8($ ;(OM/0&M$ (C4O&k&M$ &$ (M/M$ ;8(L'/M$ ;8(N&0$ &;O/P(%9&OM($
N($'&M$ %/M48?LO(M$N($(M/M$;8(L'/M$ /$N($M8$N(M%/0/%:?:(04/$N($'&M$'(](M$;/O$;&O4($
N($ M8M$ ?:(?LO/M$ ;&O&$ &OO/5&OM($ '&$ ;O/;:(N&N6$ '&$ ;/M(M:S0$ /$ ('$ 8M/$ N($ '&M$ 4:(OO&M$
;(O4(0(%:(04(M$&$(''/M-

?1.8(-&2+PU
d&$ '(]$ N(L(Of$ ;O(P(O$ M&0%:/0(M$ &;O/;:&N&M$ %/04O&$ 4/N&$ :04O8M:S0$ 0/$ &84/O:3&N&$ (0$ '&M$
4:(OO&M$N($'/M$;8(L'/M$:04(O(M&N/M$/$4/N/$8M/$0/$&84/O:3&N/$N($'&M$?:M?&M$;/O$;(OM/0&M$
&Q(0&M$&$(''/M6$]$'/M$5/L:(O0/M$N(L(Of0$4/?&O$?(N:N&M$;&O&$:?;(N:O$4&'(M$:0BO&%%:/0(M-

?1.8(-&2+PV
d/M$ ;O/5O&?&M$ &5O&O:/M$ 0&%:/0&'(M$ N(L(Of0$ 5&O&04:3&O$ &$ '/M$ ;8(L'/M$ :04(O(M&N/M$
%/0N:%:/0(M$(=8:P&'(04(M$&$'&M$=8($N:MBO84(0$/4O/M$M(%4/O(M$N($'&$;/L'&%:S06$&$'/M$(B(%4/M$
N(D
E&G$'&$ &M:50&%:S0$ N($ 4:(OO&M$ &N:%:/0&'(M$ &$ N:%9/M$ ;8(L'/M$ %8&0N/$ '&M$ 4:(OO&M$ N($ =8($
N:M;/05&0$M(&0$:0M8B:%:(04(M$;&O&$5&O&04:3&O'(M$'/M$('(?(04/M$N($80&$(C:M4(0%:&$
0/O?&'$/$;&O&$9&%(O$BO(04($&$M8$;/M:L'($%O(%:?:(04/$08?<O:%/n
ELG$('$ /4/O5&?:(04/$ N($ '/M$ ?(N:/M$ 0(%(M&O:/M$ ;&O&$ ('$ N(M&OO/''/$ N($ '&M$ 4:(OO&M$ =8($
N:%9/M$;8(L'/M$]&$;/M((0-

7'1."+000Y+92*.1'.'($)*+J+92*6$($2*"%+6"+>/;&"2
?1.8(-&2+MN
!-$ d/M$5/L:(O0/M$N(L(Of0$&N/;4&O6$(0$('$?&O%/$N($M8$'(5:M'&%:S0$0&%:/0&'$]$(0$%//;(O&%:S0$
%/0$ '/M$ ;8(L'/M$ :04(O(M&N/M6$ ?(N:N&M$ (M;(%:&'(M$ ;&O&$ 5&O&04:3&O$ &$ '/M$ 4O&L&Q&N/O(M$
;(O4(0(%:(04(M$ &$ (M/M$ ;8(L'/M$ 80&$ ;O/4(%%:S0$ (B:%&3$ (0$ ?&4(O:&$ N($ %/04O&4&%:S0$ ]$
%/0N:%:/0(M$N($(?;'(/6$(0$'&$?(N:N&$(0$=8($0/$(M4<0$;O/4(5:N/M$(B:%&3?(04($;/O$'&$
'(5:M'&%:S0$&;':%&L'($&$'/M$4O&L&Q&N/O(M$(0$5(0(O&'-

1! 40
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

1-$ d/M$ 5/L:(O0/M$ N(L(Of0$ 9&%(O$ %8&04/$ (M4<$ (0$ M8$ ;/N(O$ ;/O$ (P:4&O$ %8&'=8:(O$
N:M%O:?:0&%:S0$(04O($'/M$4O&L&Q&N/O(M$;(O4(0(%:(04(M$&$'/M$;8(L'/M$:04(O(M&N/M$]$'/M$
N(?fM$4O&L&Q&N/O(M6$(M;(%:&'?(04($(0$'/$O('&4:P/$&D
E&G$&%%(M/$&'$(?;'(/6$:0%'8:N/M$'/M$(?;'(/M$%&':B:%&N/M$]$'&M$?(N:N&M$N($;O/?/%:S0$]$
N($&M%(0M/n
ELG$O(?80(O&%:S0$:58&'$;/O$4O&L&Q/$N($:58&'$P&'/On
E%G$&M:M4(0%:&$?<N:%&$]$M/%:&'6$M(58O:N&N$($9:5:(0($(0$('$4O&L&Q/6$4/N&M$'&M$;O(M4&%:/0(M$
N($ M(58O:N&N$ M/%:&'$ ]$ N(?fM$ ;O(M4&%:/0(M$ N(O:P&N&M$ N('$ (?;'(/6$ &MX$ %/?/$ '&$
P:P:(0N&n
ENG$N(O(%9/$ N($ &M/%:&%:S06$ N(O(%9/$ &$ N(N:%&OM($ ':LO(?(04($ &$ 4/N&M$ '&M$ &%4:P:N&N(M$
M:0N:%&'(M$ ;&O&$ B:0(M$ 'X%:4/M6$ ]$ N(O(%9/$ &$ %/0%'8:O$ %/0P(0:/M$ %/'(%4:P/M$ %/0$
(?;'(&N/O(M$/$%/0$/O5&0:3&%:/0(M$N($(?;'(&N/O(M-
+-$ d&M$?(N:N&M$&N/;4&N&M$N(L(Of0$(0$;&O4:%8'&O$5&O&04:3&O$=8(D
E&G$'/M$ 4O&L&Q&N/O(M$ ;(O4(0(%:(04(M$ &$ '/M$ ;8(L'/M$ :04(O(M&N/M6$ :0%'8:N/M$ '/M$
4O&L&Q&N/O(M$(M4&%:/0&'(M6$(P(048&'(M$]$?:5O&04(M$(?;'(&N/M$(0$'&$&5O:%8'48O&$/$
(0$/4O&M$&%4:P:N&N(M6$&MX$%/?/$'/M$(?;'(&N/M$;/O$%/04O&4:M4&M$N($?&0/$N($/LO&6$
5/%(0$ N($ '&$ ;O/4(%%:S0$ =8($ %/0B:(O(0$ '&$ '(5:M'&%:S0$ ]$ '&$ ;Of%4:%&$ 0&%:/0&'(M$ &$
/4O/M$4O&L&Q&N/O(M$N($(M4&M$%&4(5/OX&M$(0$'/M$?:M?/M$M(%4/O(M6$]$M(&0$;'(0&?(04($
:0B/O?&N/M$N($M8M$N(O(%9/M$%/0$&OO(5'/$&$'&$'(5:M'&%:S0$'&L/O&'$]$N($'/M$O(%8OM/M$
N($=8($N:M;/0(0n
ELG$'/M$4O&L&Q&N/O(M$;(O4(0(%:(04(M$&$(M4/M$;8(L'/M$0/$(M4<0$M/?(4:N/M$&$%/0N:%:/0(M$
N($ 4O&L&Q/$ ;(':5O/M&M$ ;&O&$ M8$ M&'8N6$ (0$ ;&O4:%8'&O$ %/?/$ %/0M(%8(0%:&$ N($ M8$
(C;/M:%:S0$&$;'&58:%:N&M$/$&$/4O&M$M8M4&0%:&M$4SC:%&Mn
E%G$'/M$ 4O&L&Q&N/O(M$ ;(O4(0(%:(04(M$ &$ (M4/M$ ;8(L'/M$ 0/$ (M4<0$ M8Q(4/M$ &$ M:M4(?&M$ N($
%/04O&4&%:S0$%/(O%:4:P/M6$:0%'8:N&M$4/N&M$'&M$B/O?&M$N($M(OP:N8?LO($;/O$N(8N&Mn
ENG$'/M$ 4O&L&Q&N/O(M$ ;(O4(0(%:(04(M$ &$ (M4/M$ ;8(L'/M$ 5/%(0$ N($ :58&'N&N$ N($
/;/O480:N&N(M$]$N($4O&4/$;&O&$9/?LO(M$]$?8Q(O(M$(0$('$(?;'(/$]$N($;O/4(%%:S0$
%/04O&$('$9/M4:5&?:(04/$M(C8&'-
J-$ R(L(Of$;O(M4&OM($(M;(%:&'$&4(0%:S0$&$'&$%O(&%:S0$N($M(OP:%:/M$&N(%8&N/M$N($:0M;(%%:S0$
N('$ 4O&L&Q/$ (0$ '&M$ O(5:/0(M$ N/0N($ (Q(O3&0$ &%4:P:N&N(M$ &M&'&O:&N&M$ 4O&L&Q&N/O(M$
;(O4(0(%:(04(M$&$'/M$;8(L'/M$:04(O(M&N/M6$&$B:0$N($5&O&04:3&O$('$%8?;':?:(04/$N($'&M$
N:M;/M:%:/0(M$N($(M4&$;&O4($N('$;O(M(04($Z/0P(0:/-

41 1,
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

7'1."+0`Y+]21/'($)*+712H"%$2*'&C+
?1."%'*8'+"+0*6-%.1$'%+G-1'&"%
?1.8(-&2+MP
d/M$?:(?LO/M$N($'/M$;8(L'/M$:04(O(M&N/M$N(L(Of0$;/N(O$N:M;/0(O$N($?(N:/M$N($B/O?&%:S0$
;O/B(M:/0&'$;/O$'/$?(0/M$:58&'(M$&$'/M$N($'/M$N(?fM$%:8N&N&0/M-

?1.8(-&2+MM
!-$ R(L(Of0$4/?&OM($?(N:N&M$;&O&$;O/?/P(O$'&$;&O4:%:;&%:S0$P/'804&O:&$N($?:(?LO/M$N($
'/M$;8(L'/M$:04(O(M&N/M$(0$;O/5O&?&M$N($B/O?&%:S0$;O/B(M:/0&'$N($&;':%&%:S0$5(0(O&'-
1-$ Z8&0N/$'/M$;O/5O&?&M$N($B/O?&%:S0$;O/B(M:/0&'$N($&;':%&%:S0$5(0(O&'$(C:M4(04(M$0/$
O(M;/0N&0$ &$ '&M$ 0(%(M:N&N(M$ (M;(%:&'(M$ N($ '/M$ ;8(L'/M$ :04(O(M&N/M6$ '/M$ 5/L:(O0/M$
N(L(Of0$ &M(58O&O6$ %/0$ '&$ ;&O4:%:;&%:S0$ N($ N:%9/M$ ;8(L'/M6$ =8($ M($ ;/05&0$ &$ M8$
N:M;/M:%:S0$;O/5O&?&M$]$?(N:/M$(M;(%:&'(M$N($B/O?&%:S0-
+-$ ^M4/M$;O/5O&?&M$(M;(%:&'(M$N($B/O?&%:S0$N(L(Of0$L&M&OM($(0$('$(04/O0/$(%/0S?:%/6$
'&M$ %/0N:%:/0(M$ M/%:&'(M$ ]$ %8'48O&'(M$ ]$ '&M$ 0(%(M:N&N(M$ %/0%O(4&M$ N($ '/M$ ;8(L'/M$
:04(O(M&N/M-$@/N/$(M48N:/$&$(M4($O(M;(%4/$N(L(Of$O(&':3&OM($(0$%//;(O&%:S0$%/0$(M/M$
;8(L'/M6$'/M$%8&'(M$N(L(Of0$M(O$%/0M8'4&N/M$M/LO($'&$/O5&0:3&%:S0$]$('$B80%:/0&?:(04/$
N($4&'(M$;O/5O&?&M-$Z8&0N/$M(&$;/M:L'(6$(M/M$;8(L'/M$N(L(Of0$&M8?:O$;O/5O(M:P&?(04($
'&$ O(M;/0M&L:':N&N$ N($ '&$ /O5&0:3&%:S0$ ]$ ('$ B80%:/0&?:(04/$ N($ 4&'(M$ ;O/5O&?&M$
(M;(%:&'(M$N($B/O?&%:S06$M:$&MX$'/$N(%:N(0-

?1.8(-&2+MQ
!-$ d&$ &O4(M&0X&6$ '&M$ :0N8M4O:&M$ O8O&'(M$ ]$ %/?80:4&O:&M$ ]$ '&M$ &%4:P:N&N(M$ 4O&N:%:/0&'(M$ ]$
O('&%:/0&N&M$ %/0$ '&$ (%/0/?X&$ N($ M8LM:M4(0%:&$ N($ '/M$ ;8(L'/M$ :04(O(M&N/M6$ %/?/$ '&$
%&3&6$'&$;(M%&6$'&$%&3&$%/0$4O&?;&M$]$'&$O(%/'(%%:S06$N(L(Of0$O(%/0/%(OM($%/?/$B&%4/O(M$
:?;/O4&04(M$ N('$ ?&04(0:?:(04/$ N($ M8$ %8'48O&$ ]$ N($ M8$ &84/M8B:%:(0%:&$ ]$ N(M&OO/''/$
(%/0S?:%/M-$ Z/0$ '&$ ;&O4:%:;&%:S0$ N($ (M/M$ ;8(L'/M6$ ]$ M:(?;O($ =8($ 9&]&$ '85&O6$ '/M$
5/L:(O0/M$N(L(Of0$P('&O$;/O$=8($M($B/O4&'(3%&0$]$B/?(04(0$N:%9&M$&%4:P:N&N(M-
1-$ Y$;(4:%:S0$N($'/M$;8(L'/M$:04(O(M&N/M6$N(L(Of$B&%:':4fOM('(M6$%8&0N/$M(&$;/M:L'(6$80&$
&M:M4(0%:&$4<%0:%&$]$B:0&0%:(O&$&;O/;:&N&$=8($4(05&$(0$%8(04&$'&M$4<%0:%&M$4O&N:%:/0&'(M$
]$ '&M$ %&O&%4(OXM4:%&M$ %8'48O&'(M$ N($ (M/M$ ;8(L'/M$ ]$ '&$ :?;/O4&0%:&$ N($ 80$ N(M&OO/''/$
M/M4(0:N/$]$(=8:4&4:P/-

7'1."+`Y+B"#-1$6'6+B2($'&+J+B'&-6
?1.8(-&2+MR
d/M$ O(5X?(0(M$ N($ M(58O:N&N$ M/%:&'$ N(L(Of0$ (C4(0N(OM($ ;O/5O(M:P&?(04($ &$ '/M$ ;8(L'/M$
:04(O(M&N/M$]$&;':%fOM('(M$M:0$N:M%O:?:0&%:S0$&'580&-

11 42
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+MS
!-$ d/M$ 5/L:(O0/M$ N(L(Of0$ P('&O$ ;/O$ =8($ M($ ;/05&0$ &$ N:M;/M:%:S0$ N($ '/M$ ;8(L'/M$
:04(O(M&N/M$M(OP:%:/M$N($M&'8N$&N(%8&N/M$/$;O/;/O%:/0&O$&$N:%9/M$;8(L'/M$'/M$?(N:/M$
=8($'(M$;(O?:4&0$/O5&0:3&O$]$;O(M4&O$4&'(M$M(OP:%:/M$L&Q/$M8$;O/;:&$O(M;/0M&L:':N&N$]$
%/04O/'6$&$B:0$N($=8($;8(N&0$5/3&O$N('$?fC:?/$0:P('$;/M:L'($N($M&'8N$BXM:%&$]$?(04&'-
1-$ d/M$ M(OP:%:/M$ N($ M&'8N$ N(L(Of0$ /O5&0:3&OM(6$ (0$ '&$ ?(N:N&$ N($ '/$ ;/M:L'(6$ &$ 0:P('$
%/?80:4&O:/-$^M4/M$M(OP:%:/M$N(L(Of0$;'&0(&OM($]$&N?:0:M4O&OM($(0$%//;(O&%:S0$%/0$
'/M$;8(L'/M$:04(O(M&N/M$]$4(0(O$(0$%8(04&$M8M$%/0N:%:/0(M$(%/0S?:%&M6$5(/5OfB:%&M6$
M/%:&'(M$ ]$ %8'48O&'(M6$ &MX$ %/?/$ M8M$ ?<4/N/M$ N($ ;O(P(0%:S06$ ;Of%4:%&M$ %8O&4:P&M$ ]$
?(N:%&?(04/M$4O&N:%:/0&'(M-
+-$ ^'$M:M4(?&$N($&M:M4(0%:&$M&0:4&O:&$N(L(Of$N&O$'&$;O(B(O(0%:&$&$'&$B/O?&%:S0$]$&'$(?;'(/$
N($ ;(OM/0&'$ M&0:4&O:/$ N($ '&$ %/?80:N&N$ '/%&'$ ]$ %(04O&OM($ (0$ '/M$ %8:N&N/M$ ;O:?&O:/M$
N($M&'8N6$?&04(0:(0N/$&'$?:M?/$4:(?;/$(M4O(%9/M$PX0%8'/M$%/0$'/M$N(?fM$0:P('(M$N($
&M:M4(0%:&$M&0:4&O:&-
J-$ d&$;O(M4&%:S0$N($4&'(M$M(OP:%:/M$N($M&'8N$N(L(Of$%//ON:0&OM($%/0$'&M$N(?fM$?(N:N&M$
M/%:&'(M6$(%/0S?:%&M$]$%8'48O&'(M$=8($M($4/?(0$(0$('$;&XM-

7'1."+`0Y+>6-('($)*+J+X"6$2%+6"+92/-*$('($)*
?1.8(-&2+MT
R(L(Of0$&N/;4&OM($?(N:N&M$;&O&$5&O&04:3&O$&$'/M$?:(?LO/M$N($'/M$;8(L'/M$:04(O(M&N/M$'&$
;/M:L:':N&N$N($&N=8:O:O$80&$(N8%&%:S0$&$4/N/M$'/M$0:P('(M6$;/O$'/$?(0/M$(0$;:($N($:58&'N&N$
%/0$('$O(M4/$N($'&$%/?80:N&N$0&%:/0&'-

?1.8(-&2+MO
!-$ d/M$ ;O/5O&?&M$ ]$ '/M$ M(OP:%:/M$ N($ (N8%&%:S0$ N(M4:0&N/M$ &$ '/M$ ;8(L'/M$ :04(O(M&N/M$
N(L(Of0$ N(M&OO/''&OM($ ]$ &;':%&OM($ (0$ %//;(O&%:S0$ %/0$ <M4/M$ &$ B:0$ N($ O(M;/0N(O$ &$
M8M$ 0(%(M:N&N(M$ ;&O4:%8'&O(M6$ ]$ N(L(Of0$ &L&O%&O$ M8$ 9:M4/O:&6$ M8M$ %/0/%:?:(04/M$ ]$
4<%0:%&M6$M8M$M:M4(?&M$N($P&'/O(M$]$4/N&M$M8M$N(?fM$&M;:O&%:/0(M$M/%:&'(M6$(%/0S?:%&M$
]$%8'48O&'(M-
1-$ d&$&84/O:N&N$%/?;(4(04($N(L(Of$&M(58O&O$'&$B/O?&%:S0$N($?:(?LO/M$N($(M4/M$;8(L'/M$
]$M8$;&O4:%:;&%:S0$(0$'&$B/O?8'&%:S0$]$(Q(%8%:S0$N($;O/5O&?&M$N($(N8%&%:S06$%/0$?:O&M$
&$4O&0MB(O:O$;O/5O(M:P&?(04($&$N:%9/M$;8(L'/M$'&$O(M;/0M&L:':N&N$N($'&$O(&':3&%:S0$N($
(M/M$;O/5O&?&M6$%8&0N/$9&]&$'85&O-
+-$ YN(?fM6$ '/M$ 5/L:(O0/M$ N(L(Of0$ O(%/0/%(O$ ('$ N(O(%9/$ N($ (M/M$ ;8(L'/M$ &$ %O(&O$
M8M$ ;O/;:&M$ :0M4:48%:/0(M$ ]$ ?(N:/M$ N($ (N8%&%:S06$ M:(?;O($ =8($ 4&'(M$ :0M4:48%:/0(M$
M&4:MB&5&0$'&M$0/O?&M$?X0:?&M$(M4&L'(%:N&M$;/O$'&$&84/O:N&N$%/?;(4(04($(0$%/0M8'4&$
%/0$(M/M$;8(L'/M-$R(L(Of0$B&%:':4fOM('(M$O(%8OM/M$&;O/;:&N/M$%/0$4&'$B:0-

43 1(
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

?1.8(-&2+MU
!-$ 7:(?;O($ =8($ M(&$ P:&L'(6$ N(L(Of$ (0M(k&OM($&$ '/M$ 0:k/M$ N($ '/M$ ;8(L'/M$ :04(O(M&N/M$&$
'((O$]$&$(M%O:L:O$(0$M8$;O/;:&$'(058&$:0NX5(0&$/$(0$'&$'(058&$=8($?fM$%/?c0?(04($
M($9&L'($(0$('$5O8;/$&$=8($;(O4(0(3%&0-$Z8&0N/$(''/$0/$M(&$P:&L'(6$'&M$&84/O:N&N(M$
%/?;(4(04(M$N(L(Of0$%('(LO&O$%/0M8'4&M$%/0$(M/M$;8(L'/M$%/0$?:O&M$&$'&$&N/;%:S0$N($
?(N:N&M$=8($;(O?:4&0$&'%&03&O$(M4($/LQ(4:P/-
1-$ R(L(Of0$ 4/?&OM($ ?(N:N&M$ &N(%8&N&M$ ;&O&$ &M(58O&O$ =8($ (M/M$ ;8(L'/M$ 4(05&0$ '&$
/;/O480:N&N$N($''(5&O$&$N/?:0&O$'&$'(058&$0&%:/0&'$/$80&$N($'&M$'(058&M$/B:%:&'(M$N('$
;&XM-
+-$ R(L(Of0$&N/;4&OM($N:M;/M:%:/0(M$;&O&$;O(M(OP&O$'&M$'(058&M$:0NX5(0&M$N($'/M$;8(L'/M$
:04(O(M&N/M$]$;O/?/P(O$('$N(M&OO/''/$]$'&$;Of%4:%&$N($'&M$?:M?&M-

?1.8(-&2+MV
U0$/LQ(4:P/$N($'&$(N8%&%:S0$N($'/M$0:k/M$N($'/M$;8(L'/M$:04(O(M&N/M$N(L(Of$M(O$:?;&O4:O'(M$
%/0/%:?:(04/M$5(0(O&'(M$]$&;4:48N(M$=8($'(M$&]8N(0$&$;&O4:%:;&O$;'(0&?(04($]$(0$;:($N($
:58&'N&N$(0$'&$P:N&$N($M8$;O/;:&$%/?80:N&N$]$(0$'&$N($'&$%/?80:N&N$0&%:/0&'-

?1.8(-&2+QN
!-$ d/M$ 5/L:(O0/M$ N(L(Of0$ &N/;4&O$ ?(N:N&M$ &%/ON(M$ &$ '&M$ 4O&N:%:/0(M$ ]$ %8'48O&M$ N($
'/M$ ;8(L'/M$ :04(O(M&N/M6$ &$ B:0$ N($ N&O'(M$ &$ %/0/%(O$ M8M$ N(O(%9/M$ ]$ /L':5&%:/0(M6$
(M;(%:&'?(04($ (0$ '/$ =8($ &4&k($ &'$ 4O&L&Q/6$ &$ '&M$ ;/M:L:':N&N(M$ (%/0S?:%&M6$ &$ '&M$
%8(M4:/0(M$N($(N8%&%:S0$]$M&'8N6$&$'/M$M(OP:%:/M$M/%:&'(M$]$&$'/M$N(O(%9/M$N:?&0&04(M$
N('$;O(M(04($Z/0P(0:/-
1-$ Y$4&'$B:06$N(L(Of$O(%8OO:OM(6$M:$B8(O($0(%(M&O:/6$&$4O&N8%%:/0(M$(M%O:4&M$]$&$'&$84:':3&%:S0$
N($'/M$?(N:/M$N($%/?80:%&%:S0$N($?&M&M$(0$'&M$'(058&M$N($N:%9/M$;8(L'/M-

?1.8(-&2+QP
R(L(Of0$&N/;4&OM($?(N:N&M$N($%&Of%4(O$(N8%&4:P/$(0$4/N/M$'/M$M(%4/O(M$N($'&$%/?80:N&N$
0&%:/0&'6$ ]$ (M;(%:&'?(04($ (0$ '/M$ =8($ (M4<0$ (0$ %/04&%4/$ ?fM$ N:O(%4/$ %/0$ '/M$ ;8(L'/M$
:04(O(M&N/M6$%/0$/LQ(4/$N($(':?:0&O$'/M$;O(Q8:%:/M$=8($;8N:(O&0$4(0(O$%/0$O(M;(%4/$&$(M/M$
;8(L'/M-$ Y$ 4&'$ B:06$ N(L(Of0$ 9&%(OM($ (MB8(O3/M$ ;/O$ &M(58O&O$ =8($ '/M$ ':LO/M$ N($ 9:M4/O:&$ ]$
N(?fM$?&4(O:&'$N:Nf%4:%/$/BO(3%&0$80&$N(M%O:;%:S0$(=8:4&4:P&6$(C&%4&$($:0M4O8%4:P&$N($'&M$
M/%:(N&N(M$]$%8'48O&M$N($'/M$;8(L'/M$:04(O(M&N/M-

7'1."+`00Y+92*.'(.2%+J+922;"1'($)*+'+D1'K:%+6"+&'%+]12*."1'%
?1.8(-&2+QM
d/M$ 5/L:(O0/M$ N(L(Of0$ 4/?&O$ ?(N:N&M$ &;O/;:&N&M6$ :0%'8M/$ ;/O$ ?(N:/$ N($ &%8(ON/M$
:04(O0&%:/0&'(M6$ ;&O&$ B&%:':4&O$ '/M$ %/04&%4/M$ ]$ '&$ %//;(O&%:S0$ (04O($ ;8(L'/M$ :0NX5(0&M$
]$ 4O:L&'(M$ &$ 4O&P<M$ N($ '&M$ BO/04(O&M6$ :0%'8:N&M$ '&M$ &%4:P:N&N(M$ (0$ '&M$ (MB(O&M$ (%/0S?:%&6$
M/%:&'6$%8'48O&'6$(M;:O:48&'$]$N('$?(N:/$&?L:(04(-

1- 44
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

7'1."+`000Y+?6/$*$%.1'($)*
?1.8(-&2+QQ
!-$ d&$ &84/O:N&N$ 58L(O0&?(04&'$ O(M;/0M&L'($ N($ '&M$ %8(M4:/0(M$ =8($ &L&O%&$ ('$ ;O(M(04($
Z/0P(0:/$ N(L(Of$ &M(58O&OM($ N($ =8($ (C:M4(0$ :0M4:48%:/0(M$ 8$ /4O/M$ ?(%&0:M?/M$
&;O/;:&N/M$;&O&$&N?:0:M4O&O$'/M$;O/5O&?&M$=8($&B(%4(0$&$'/M$;8(L'/M$:04(O(M&N/M6$]$
N($=8($4&'(M$:0M4:48%:/0(M$/$?(%&0:M?/M$N:M;/0(0$N($'/M$?(N:/M$0(%(M&O:/M$;&O&$('$
%&L&'$N(M(?;(k/$N($M8M$B80%:/0(M-
1-$@&'(M$;O/5O&?&M$N(L(Of0$:0%'8:OD
E&G$'&$ ;'&0:B:%&%:S06$ %//ON:0&%:S06$ (Q(%8%:S0$ ]$ (P&'8&%:S06$ (0$ %//;(O&%:S0$ %/0$ '/M$
;8(L'/M$:04(O(M&N/M6$N($'&M$?(N:N&M$;O(P:M4&M$(0$('$;O(M(04($Z/0P(0:/n
ELG$'&$ ;O/;/M:%:S0$ N($ ?(N:N&M$ '(5:M'&4:P&M$ ]$ N($ /4O&$ X0N/'($ &$ '&M$ &84/O:N&N(M$
%/?;(4(04(M$]$('$%/04O/'$N($'&$&;':%&%:S0$N($'&M$?(N:N&M$&N/;4&N&M$(0$%//;(O&%:S0$
%/0$'/M$;8(L'/M$:04(O(M&N/M-

7'1."+0_Y+4$%;2%$($2*"%+,"*"1'&"%
?1.8(-&2+QR
d&$ 0&48O&'(3&$ ]$ ('$ &'%&0%($ N($ '&M$ ?(N:N&M$ =8($ M($ &N/;4(0$ ;&O&$ N&O$ (B(%4/$ &'$ ;O(M(04($
Z/0P(0:/$ N(L(Of0$ N(4(O?:0&OM($ %/0$ B'(C:L:':N&N6$ 4(0:(0N/$ (0$ %8(04&$ '&M$ %/0N:%:/0(M$
;O/;:&M$N($%&N&$;&XM-

?1.8(-&2+QS
d&$ &;':%&%:S0$ N($ '&M$ N:M;/M:%:/0(M$ N('$ ;O(M(04($ Z/0P(0:/$ 0/$ N(L(Of$ ?(0/M%&L&O$ '/M$
N(O(%9/M$ ]$ '&M$ P(04&Q&M$ 5&O&04:3&N/M$ &$ '/M$ ;8(L'/M$ :04(O(M&N/M$ (0$ P:O48N$ N($ /4O/M$
%/0P(0:/M$ ]$ O(%/?(0N&%:/0(M6$ :0M4O8?(04/M$ :04(O0&%:/0&'(M6$ 4O&4&N/M6$ /$ '(](M6$ '&8N/M6$
%/M48?LO(M$/$&%8(ON/M$0&%:/0&'(M-

45 1.
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+
92*K"*($)*+0*."1*'($2*'&+%231"+&'+>&$/$*'($)*+
6"+.26'%+&'%+]21/'%+6"+4$%(1$/$*'($)*+G'($'&+
<PVTS@

7'1."+0
?1.8(-&2+P
!-$ ^0$ '&$ ;O(M(04($ Z/0P(0%:S0$ '&$ (C;O(M:S0$ iN:M%O:?:0&%:S0$ O&%:&'j$ N(0/4&Of$ 4/N&$
N:M4:0%:S06$(C%'8M:S06$O(M4O:%%:S0$/$;O(B(O(0%:&$L&M&N&$(0$?/4:P/M$N($O&3&6$%/'/O6$':0&Q($
8$/O:5(0$0&%:/0&'$/$<40:%/$=8($4(05&$;/O$/LQ(4/$/$;/O$O(M8'4&N/$&08'&O$/$?(0/M%&L&O$
('$ O(%/0/%:?:(04/6$ 5/%($ /$ (Q(O%:%:/6$ (0$ %/0N:%:/0(M$ N($ :58&'N&N6$ N($ '/M$ N(O(%9/M$
98?&0/M$]$':L(O4&N(M$B80N&?(04&'(M$(0$'&M$(MB(O&M$;/'X4:%&6$(%/0S?:%&6$M/%:&'6$%8'48O&'$
/$(0$%8&'=8:(O$/4O&$(MB(O&$N($'&$P:N&$;cL':%&-
1-$ ^M4&$ Z/0P(0%:S0$ 0/$ M($ &;':%&Of$ &$ '&M$ N:M4:0%:/0(M6$ (C%'8M:/0(M6$ O(M4O:%%:/0(M$ /$
;O(B(O(0%:&M$=8($9&5&$80$^M4&N/$;&O4($(0$'&$;O(M(04($Z/0P(0%:S0$(04O($%:8N&N&0/M$]$
0/$%:8N&N&0/M-

10 46
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

+-$ T:0580&$ N($ '&M$ %'f8M8'&M$ N($ '&$ ;O(M(04($ Z/0P(0%:S0$ ;/NOf$ :04(O;O(4&OM($ (0$ 80$
M(04:N/$ =8($ &B(%4($ (0$ ?/N/$ &'580/$ '&M$ N:M;/M:%:/0(M$ '(5&'(M$ N($ '/M$ ^M4&N/M$ ;&O4(M$
M/LO($0&%:/0&':N&N6$%:8N&N&0X&$/$0&48O&':3&%:S06$M:(?;O($=8($4&'(M$N:M;/M:%:/0(M$0/$
(M4&L'(3%&0$N:M%O:?:0&%:S0$%/04O&$0:0580&$0&%:/0&':N&N$(0$;&O4:%8'&O-
J-$ d&M$ ?(N:N&M$ (M;(%:&'(M$ &N/;4&N&M$ %/0$ ('$ B:0$ (C%'8M:P/$ N($ &M(58O&O$ ('$ &N(%8&N/$
;O/5O(M/$ N($ %:(O4/M$ 5O8;/M$ O&%:&'(M$ /$ <40:%/M$ /$ N($ %:(O4&M$ ;(OM/0&M$ =8($ O(=8:(O&0$
'&$ ;O/4(%%:S0$ =8($ ;8(N&$ M(O$ 0(%(M&O:&$ %/0$ /LQ(4/$ N($ 5&O&04:3&O'(M6$ (0$ %/0N:%:/0(M$
N($ :58&'N&N6$ ('$ N:MBO84($ /$ (Q(O%:%:/$ N($ '/M$ N(O(%9/M$ 98?&0/M$ ]$ N($ '&M$ ':L(O4&N(M$
B80N&?(04&'(M$0/$M($%/0M:N(O&Of0$%/?/$?(N:N&M$N($N:M%O:?:0&%:S0$O&%:&'6$M:(?;O($
=8($0/$%/0N83%&06$%/?/$%/0M(%8(0%:&6$&'$?&04(0:?:(04/$N($N(O(%9/M$N:M4:04/M$;&O&$
'/M$N:B(O(04(M$5O8;/M$O&%:&'(M$]$=8($0/$M($?&04(05&0$(0$P:5/O$N(M;8<M$N($&'%&03&N/M$
'/M$/LQ(4:P/M$;&O&$'/M$%8&'(M$M($4/?&O/0-

?1.8(-&2+M
!-$ d/M$^M4&N/M$;&O4(M$%/0N(0&0$'&$N:M%O:?:0&%:S0$O&%:&'$]$M($%/?;O/?(4(0$&$M(58:O6$;/O$
4/N/M$'/M$?(N:/M$&;O/;:&N/M$]$M:0$N:'&%:/0(M6$80&$;/'X4:%&$(0%&?:0&N&$&$(':?:0&O$'&$
N:M%O:?:0&%:S0$O&%:&'$(0$4/N&M$M8M$B/O?&M$]$&$;O/?/P(O$('$(04(0N:?:(04/$(04O($4/N&M$
'&M$O&3&M6$]$%/0$4&'$/LQ(4/D
&G$ Z&N&$ ^M4&N/$ ;&O4($ M($ %/?;O/?(4($ &$ 0/$ :0%8OO:O$ (0$ 0:05c0$ &%4/$ /$ ;Of%4:%&$ N($
N:M%O:?:0&%:S0$ O&%:&'$ %/04O&$ ;(OM/0&M6$ 5O8;/M$ N($ ;(OM/0&M$ /$ :0M4:48%:/0(M$ ]$ &$
P('&O$;/O$=8($4/N&M$'&M$&84/O:N&N(M$;cL':%&M$($:0M4:48%:/0(M$;cL':%&M6$0&%:/0&'(M$]$
'/%&'(M6$&%4c(0$(0$%/0B/O?:N&N$%/0$(M4&$/L':5&%:S0n
LG$ Z&N&$ ^M4&N/$ ;&O4($ M($ %/?;O/?(4($ &$ 0/$ B/?(04&O6$ N(B(0N(O$ /$ &;/]&O$ '&$
N:M%O:?:0&%:S0$O&%:&'$;O&%4:%&N&$;/O$%8&'(M=8:(O&$;(OM/0&M$8$/O5&0:3&%:/0(Mn
%G$ Z&N&$ ^M4&N/$ ;&O4($ 4/?&Of$ ?(N:N&M$ (B(%4:P&M$ ;&O&$ O(P:M&O$ '&M$ ;/'X4:%&M$
58L(O0&?(04&'(M$ 0&%:/0&'(M$ ]$ '/%&'(M6$ ]$ ;&O&$ (0?(0N&O6$ N(O/5&O$ /$ &08'&O$ '&M$
'(](M$]$'&M$N:M;/M:%:/0(M$O(5'&?(04&O:&M$=8($4(05&0$%/?/$%/0M(%8(0%:&$%O(&O$'&$
N:M%O:?:0&%:S0$O&%:&'$/$;(O;(48&O'&$N/0N($]&$(C:M4&n
NG$ Z&N&$^M4&N/$;&O4($;O/9:L:Of$]$9&Of$%(M&O$;/O$4/N/M$'/M$?(N:/M$&;O/;:&N/M6$:0%'8M/6$
M:$ '/$ (C:5:(O&0$ '&M$ %:O%80M4&0%:&M6$ ?(N:N&M$ '(5:M'&4:P&M6$ '&$ N:M%O:?:0&%:S0$ O&%:&'$
;O&%4:%&N&$;/O$;(OM/0&M6$5O8;/M$8$/O5&0:3&%:/0(Mn
(G$ Z&N&$^M4&N/$;&O4($M($%/?;O/?(4($&$(M4:?8'&O6$%8&0N/$B8(O($('$%&M/6$/O5&0:3&%:/0(M$
]$ ?/P:?:(04/M$ ?8'4:OO&%:&'(M$ :04(5O&%:/0:M4&M$ ]$ /4O/M$ ?(N:/M$ (0%&?:0&N/M$ &$
(':?:0&O$'&M$L&OO(O&M$(04O($'&M$O&3&M6$]$&$N(M&'(04&O$4/N/$'/$=8($4:(0N&$&$B/O4&'(%(O$
'&$N:P:M:S0$O&%:&'-
1-$ d/M$ ^M4&N/M$ ;&O4(M$ 4/?&Of06$ %8&0N/$ '&M$ %:O%80M4&0%:&M$ '/$ &%/0M(Q(06$ ?(N:N&M$
(M;(%:&'(M$]$ %/0%O(4&M6$ (0$'&M$ (MB(O&M$ M/%:&'6$ (%/0S?:%&6$ %8'48O&'$ ]$(0$/4O&M$ (MB(O&M6$
;&O&$&M(58O&O$('$&N(%8&N/$N(M(0P/'P:?:(04/$]$;O/4(%%:S0$N($%:(O4/M$5O8;/M$O&%:&'(M$
/$N($;(OM/0&M$;(O4(0(%:(04(M$&$(M4/M$5O8;/M6$%/0$('$B:0$N($5&O&04:3&O$(0$%/0N:%:/0(M$

47 1/
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

N($ :58&'N&N$ ('$ ;'(0/$ N:MBO84($ ;/O$ N:%9&M$ ;(OM/0&M$ N($ '/M$ N(O(%9/M$ 98?&0/M$ ]$ N($
'&M$ ':L(O4&N(M$ B80N&?(04&'(M-$ ^M&M$ ?(N:N&M$ (0$ 0:05c0$ %&M/$ ;/NOf0$ 4(0(O$ %/?/$
%/0M(%8(0%:&$('$?&04(0:?:(04/$N($N(O(%9/M$N(M:58&'(M$/$M(;&O&N/M$;&O&$'/M$N:P(OM/M$
5O8;/M$O&%:&'(M$N(M;8<M$N($&'%&03&N/M$'/M$/LQ(4:P/M$;&O&$'/M$%8&'(M$M($4/?&O/0-

?1.8(-&2+Q
d/M$ ^M4&N/M$ ;&O4(M$ %/0N(0&0$ (M;(%:&'?(04($ '&$ M(5O(5&%:S0$ O&%:&'$ ]$ ('$ &;&O49(:N$ ]$ M($
%/?;O/?(4(0$&$;O(P(0:O6$;O/9:L:O$]$(':?:0&O$(0$'/M$4(OO:4/O:/M$L&Q/$M8$Q8O:MN:%%:S0$4/N&M$
'&M$;Of%4:%&M$N($(M4&$0&48O&'(3&-

?1.8(-&2+R
d/M$ ^M4&N/M$ ;&O4(M$ %/0N(0&0$ 4/N&$ '&$ ;O/;&5&0N&$ ]$ 4/N&M$ '&M$ /O5&0:3&%:/0(M$ =8($ M($
:0M;:O(0$ (0$ :N(&M$ /$ 4(/OX&M$ L&M&N&M$ (0$ '&$ M8;(O:/O:N&N$ N($ 80&$ O&3&$ /$ N($ 80$ 5O8;/$ N($
;(OM/0&M$N($80$N(4(O?:0&N/$%/'/O$8$/O:5(0$<40:%/6$/$=8($;O(4(0N&0$Q8M4:B:%&O$/$;O/?/P(O$
('$/N:/$O&%:&'$]$'&$N:M%O:?:0&%:S0$O&%:&'6$%8&'=8:(O&$=8($M(&$M8$B/O?&6$]$M($%/?;O/?(4(0$
&$ 4/?&O$ ?(N:N&M$ :0?(N:&4&M$ ]$ ;/M:4:P&M$ N(M4:0&N&M$ &$ (':?:0&O$ 4/N&$ :0%:4&%:S0$ &$ 4&'$
N:M%O:?:0&%:S0$ /$ &%4/M$ N($ 4&'$ N:M%O:?:0&%:S06$ ]6$ %/0$ (M($ B:06$ 4(0:(0N/$ N(L:N&?(04($ (0$
%8(04&$'/M$;O:0%:;:/M$:0%/O;/O&N/M$(0$'&$R(%'&O&%:S0$U0:P(OM&'$N($R(O(%9/M$m8?&0/M6$&MX$
%/?/$'/M$N(O(%9/M$(C;O(M&?(04($(080%:&N/M$(0$('$&O4X%8'/$)$N($'&$;O(M(04($Z/0P(0%:S06$
4/?&Of06$(04O($/4O&M6$'&M$M:58:(04(M$?(N:N&MD
&G$ R(%'&O&Of0$%/?/$&%4/$;80:L'($%/0B/O?($&$'&$'(]$4/N&$N:B8M:S0$N($:N(&M$L&M&N&M$(0$'&$
M8;(O:/O:N&N$/$(0$('$/N:/$O&%:&'6$4/N&$:0%:4&%:S0$&$'&$N:M%O:?:0&%:S0$O&%:&'6$&MX$%/?/$
4/N/$&%4/$N($P:/'(0%:&$/$4/N&$:0%:4&%:S0$&$%/?(4(O$4&'(M$&%4/M$%/04O&$%8&'=8:(O$O&3&$
/$5O8;/$N($;(OM/0&M$N($/4O/$%/'/O$8$/O:5(0$<40:%/6$]$4/N&$&M:M4(0%:&$&$'&M$&%4:P:N&N(M$
O&%:M4&M6$:0%'8:N&$M8$B:0&0%:&%:S0n
LG$ R(%'&O&Of0$ :'(5&'(M$ ]$ ;O/9:L:Of0$ '&M$ /O5&0:3&%:/0(M6$ &MX$ %/?/$ '&M$ &%4:P:N&N(M$
/O5&0:3&N&M$ N($ ;O/;&5&0N&$ ]$ 4/N&$ /4O&$ &%4:P:N&N$ N($ ;O/;&5&0N&6$ =8($ ;O/?8(P&0$
'&$N:M%O:?:0&%:S0$O&%:&'$($:0%:4(0$&$(''&6$]$O(%/0/%(Of0$=8($'&$;&O4:%:;&%:S0$(0$4&'(M$
/O5&0:3&%:/0(M$/$(0$4&'(M$&%4:P:N&N(M$%/0M4:48]($80$N(':4/$;(0&N/$;/O$'&$'(]n
%G$ T/$;(O?:4:Of0$=8($'&M$&84/O:N&N(M$0:$'&M$:0M4:48%:/0(M$;cL':%&M$0&%:/0&'(M$/$'/%&'(M$
;O/?8(P&0$'&$N:M%O:?:0&%:S0$O&%:&'$/$:0%:4(0$&$(''&-

?1.8(-&2+S
^0$ %/0B/O?:N&N$ %/0$ '&M$ /L':5&%:/0(M$ B80N&?(04&'(M$ (M4:;8'&N&M$ (0$ ('$ &O4X%8'/$ 1$ N($ '&$
;O(M(04($ Z/0P(0%:S06$ '/M$ ^M4&N/M$ ;&O4(M$ M($ %/?;O/?(4(0$ &$ ;O/9:L:O$ ]$ (':?:0&O$ '&$
N:M%O:?:0&%:S0$O&%:&'$(0$4/N&M$M8M$B/O?&M$]$&$5&O&04:3&O$('$N(O(%9/$N($4/N&$;(OM/0&$&$'&$
:58&'N&N$&04($'&$'(]6$M:0$N:M4:0%:S0$N($O&3&6$%/'/O$]$/O:5(0$0&%:/0&'$/$<40:%/6$;&O4:%8'&O?(04($
(0$('$5/%($N($'/M$N(O(%9/M$M:58:(04(MD
&G$ ^'$N(O(%9/$&$'&$:58&'N&N$N($4O&4&?:(04/$(0$'/M$4O:L80&'(M$]$4/N/M$'/M$N(?fM$SO5&0/M$
=8($&N?:0:M4O&0$Q8M4:%:&n

1) 48
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

LG$ ^'$N(O(%9/$&$'&$M(58O:N&N$;(OM/0&'$]$&$'&$;O/4(%%:S0$N('$^M4&N/$%/04O&$4/N/$&%4/$N($
P:/'(0%:&$/$&4(04&N/$%/04O&$'&$:04(5O:N&N$;(OM/0&'$%/?(4:N/$;/O$B80%:/0&O:/M$;cL':%/M$
/$;/O$%8&'=8:(O$:0N:P:N8/6$5O8;/$/$:0M4:48%:S0n
%G$ d/M$ N(O(%9/M$ ;/'X4:%/M6$ (0$ ;&O4:%8'&O$ ('$ N($ 4/?&O$ ;&O4($ (0$ ('(%%:/0(M6$ ('(5:O$ ]$ M(O$
('(5:N/6$;/O$?(N:/$N('$M8BO&5:/$80:P(OM&'$($:58&'6$('$N($;&O4:%:;&O$(0$('$5/L:(O0/$]$(0$
'&$N:O(%%:S0$N($'/M$&M804/M$;cL':%/M$(0$%8&'=8:(O$0:P('6$]$('$N($&%%(M/6$(0$%/0N:%:/0(M$
N($:58&'N&N6$&$'&M$B80%:/0(M$;cL':%&Mn
NG$ \4O/M$N(O(%9/M$%:P:'(M6$(0$;&O4:%8'&OD
:G$ ^'$ N(O(%9/$ &$ %:O%8'&O$ ':LO(?(04($ ]$ &$ ('(5:O$ M8$ O(M:N(0%:&$ (0$ ('$ 4(OO:4/O:/$ N($ 80$
^M4&N/n
::G$ ^'$N(O(%9/$&$M&':O$N($%8&'=8:(O$;&XM6$:0%'8M/$N('$;O/;:/6$]$&$O(5O(M&O$&$M8$;&XMn
:::G$ ^'$N(O(%9/$&$80&$0&%:/0&':N&Nn
:PG$ ^'$N(O(%9/$&'$?&4O:?/0:/$]$&$'&$('(%%:S0$N('$%S0]85(n
PG$ ^'$N(O(%9/$&$M(O$;O/;:(4&O:/6$:0N:P:N8&'?(04($]$(0$&M/%:&%:S0$%/0$/4O/Mn
P:G$ ^'$N(O(%9/$&$9(O(N&On
P::G$ ^'$N(O(%9/$&$'&$':L(O4&N$N($;(0M&?:(04/6$N($%/0%:(0%:&$]$N($O(':5:S0n
P:::G$^'$N(O(%9/$&$'&$':L(O4&N$N($/;:0:S0$]$N($(C;O(M:S0n
:CG$ ^'$N(O(%9/$&$'&$':L(O4&N$N($O(80:S0$]$N($&M/%:&%:S0$;&%XB:%&Mn
(G$ d/M$N(O(%9/M$(%/0S?:%/M6$M/%:&'(M$]$%8'48O&'(M6$(0$;&O4:%8'&OD
:G$ ^'$ N(O(%9/$ &'$ 4O&L&Q/6$ &$ '&$ ':LO($ ('(%%:S0$ N($ 4O&L&Q/6$ &$ %/0N:%:/0(M$ (=8:4&4:P&M$ ]$
M&4:MB&%4/O:&M$N($4O&L&Q/6$&$'&$;O/4(%%:S0$%/04O&$('$N(M(?;'(/6$&$:58&'$M&'&O:/$;/O$
4O&L&Q/$:58&'$]$&$80&$O(?80(O&%:S0$(=8:4&4:P&$]$M&4:MB&%4/O:&n
::G$ ^'$N(O(%9/$&$B80N&O$M:0N:%&4/M$]$&$M:0N:%&OM(n
:::G$^'$N(O(%9/$&$'&$P:P:(0N&n
:PG$ ^'$N(O(%9/$&$'&$M&'8N$;cL':%&6$'&$&M:M4(0%:&$?<N:%&6$'&$M(58O:N&N$M/%:&'$]$'/M$M(OP:%:/M$
M/%:&'(Mn
PG$ ^'$N(O(%9/$&$'&$(N8%&%:S0$]$'&$B/O?&%:S0$;O/B(M:/0&'n
P:G$ ^'$N(O(%9/$&$;&O4:%:;&O6$(0$%/0N:%:/0(M$N($:58&'N&N6$(0$'&M$&%4:P:N&N(M$%8'48O&'(Mn
BG$ ^'$ N(O(%9/$ N($ &%%(M/$ &$ 4/N/M$ '/M$ '85&O(M$ ]$ M(OP:%:/M$ N(M4:0&N/M$ &'$ 8M/$ ;cL':%/6$
4&'(M$%/?/$'/M$?(N:/M$N($4O&0M;/O4(6$9/4('(M6$O(M4&8O&04(M6$%&B<M6$(M;(%4f%8'/M$]$
;&O=8(M-

49 1*
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

?1.8(-&2+T
d/M$^M4&N/M$;&O4(M$&M(58O&Of0$&$4/N&M$'&M$;(OM/0&M$=8($M($9&''(0$L&Q/$M8$Q8O:MN:%%:S06$
;O/4(%%:S0$ ]$ O(%8OM/M$ (B(%4:P/M6$ &04($ '/M$ 4O:L80&'(M$ 0&%:/0&'(M$ %/?;(4(04(M$ ]$ /4O&M$
:0M4:48%:/0(M$N('$^M4&N/6$%/04O&$4/N/$&%4/$N($N:M%O:?:0&%:S0$O&%:&'$=8(6$%/04O&P:0:(0N/$'&$
;O(M(04($Z/0P(0%:S06$P:/'($M8M$N(O(%9/M$98?&0/M$]$':L(O4&N(M$B80N&?(04&'(M6$&MX$%/?/$
('$N(O(%9/$&$;(N:O$&$(M/M$4O:L80&'(M$M&4:MB&%%:S0$/$O(;&O&%:S0$Q8M4&$]$&N(%8&N&$;/O$4/N/$
N&k/$N($=8($;8(N&0$M(O$PX%4:?&M$%/?/$%/0M(%8(0%:&$N($4&'$N:M%O:?:0&%:S0-

?1.8(-&2+O
d/M$^M4&N/M$;&O4(M$M($%/?;O/?(4(0$&$4/?&O$?(N:N&M$:0?(N:&4&M$]$(B:%&%(M6$(M;(%:&'?(04($
(0$'&M$(MB(O&M$N($'&$(0M(k&03&6$'&$(N8%&%:S06$'&$%8'48O&$]$'&$:0B/O?&%:S06$;&O&$%/?L&4:O$
'/M$;O(Q8:%:/M$=8($%/0N83%&0$&$'&$N:M%O:?:0&%:S0$O&%:&'$]$;&O&$;O/?/P(O$'&$%/?;O(0M:S06$
'&$ 4/'(O&0%:&$ ]$ '&$ &?:M4&N$ (04O($ '&M$ 0&%:/0(M$ ]$ '/M$ N:P(OM/M$ 5O8;/M$ O&%:&'(M$ /$ <40:%/M6$
&MX$%/?/$;&O&$;O/;&5&O$'/M$;O/;SM:4/M$]$;O:0%:;:/M$N($'&$Z&O4&$N($'&M$T&%:/0(M$U0:N&M6$
N($ '&$ R(%'&O&%:S0$ U0:P(OM&'$ N($ R(O(%9/M$ m8?&0/M6$ N($ '&$ R(%'&O&%:S0$ N($ '&M$ T&%:/0(M$
U0:N&M$M/LO($'&$(':?:0&%:S0$N($4/N&M$'&M$B/O?&M$N($N:M%O:?:0&%:S0$O&%:&'$]$N($'&$;O(M(04($
Z/0P(0%:S0-

1+ 50
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

+
92*K"*($)*+;'1'+&'+71"K"*($)*+J+&'+B'*($)*+6"&+
4"&$.2+6"+,"*2($6$2+
<PVRU@

?1.8(-&2+P
d&M$V&O4(M$%/04O&4&04(M$%/0B:O?&0$=8($('$5(0/%:N:/6$]&$M(&$%/?(4:N/$(0$4:(?;/$N($;&3$/$
(0$4:(?;/$N($58(OO&6$(M$80$N(':4/$N($N(O(%9/$:04(O0&%:/0&'$=8($(''&M$M($%/?;O/?(4(0$&$
;O(P(0:O$]$&$M&0%:/0&O-

?1.8(-&2+M++
^0$'&$;O(M(04($Z/0P(0%:S06$M($(04:(0N($;/O$5(0/%:N:/$%8&'=8:(O&$N($'/M$&%4/M$?(0%:/0&N/M$
&$%/04:08&%:S06$;(O;(4O&N/M$%/0$'&$:04(0%:S0$N($N(M4O8:O6$4/4&'$/$;&O%:&'?(04(6$&$80$5O8;/$
0&%:/0&'6$<40:%/6$O&%:&'$/$O(':5:/M/6$%/?/$4&'D
&G$ 2&4&03&$N($?:(?LO/M$N('$5O8;/n
LG$ d(M:S0$5O&P($&$'&$:04(5O:N&N$BXM:%&$/$?(04&'$N($'/M$?:(?LO/M$N('$5O8;/n
%G$ 7/?(4:?:(04/$:04(0%:/0&'$N('$5O8;/$&$%/0N:%:/0(M$N($(C:M4(0%:&$=8($9&]&0$N($&%&OO(&O$
M8$N(M4O8%%:S0$BXM:%&6$4/4&'$/$;&O%:&'n

51 1"
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

NG$ 2(N:N&M$N(M4:0&N&M$&$:?;(N:O$'/M$0&%:?:(04/M$(0$('$M(0/$N('$5O8;/n
(G$ @O&M'&N/$;/O$B8(O3&$N($0:k/M$N('$5O8;/$&$/4O/$5O8;/-

?1.8(-&2+Q++
7(Of0$%&M4:5&N/M$'/M$&%4/M$M:58:(04(MD
&G$ ^'$5(0/%:N:/n
LG$ d&$&M/%:&%:S0$;&O&$%/?(4(O$5(0/%:N:/n
%G$ d&$:0M4:5&%:S0$N:O(%4&$]$;cL':%&$&$%/?(4(O$5(0/%:N:/n
NG$ d&$4(04&4:P&$N($5(0/%:N:/n
(G$ d&$%/?;':%:N&N$(0$('$5(0/%:N:/-

1& 52
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

+
92*K"*$2+%231"+4$K"1%$6'6+a$2&)#$('+
<PVVM@

?1.8(-&2+UY+0*($%2+EY
Z/0$&OO(5'/$&$M8$'(5:M'&%:S0$0&%:/0&'6$O(M;(4&Of6$;O(M(OP&Of$]$?&04(0NOf$'/M$%/0/%:?:(04/M6$
'&M$ :00/P&%:/0(M$ ]$ '&M$ ;Of%4:%&M$ N($ '&M$ %/?80:N&N(M$ :0NX5(0&M$ ]$ '/%&'(M$ =8($ (04O&k(0$
(M4:'/M$4O&N:%:/0&'(M$N($N:P(OM:N&N$L:/'S5:%&$]$;O/?/P(Of$M8$&;':%&%:S0$?fM$&?;':&6$%/0$
'&$ &;O/L&%:S0$ ]$ ;&O4:%:;&%:S0$ N($ =8:(0(M$ ;/M(&0$ (M/M$ %/0/%:?:(04/M6$ :00/P&%:/0(M$ ]$
;Of%4:%&M6$B/?(04&Of$=8($'/M$L(0(B:%:/M$N(O:P&N/M$N($'&$84:':3&%:S0$N($(M/M$%/0/%:?:(04/M6$
:00/P&%:/0(M$]$;Of%4:%&M$M($%/?;&O4&0$(=8:4&4:P&?(04(-

53 1
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

+
712.2(2&2+6"+L'#2J'+%231"+?(("%2+'+&2%+G"(-1%2%+
,"*:.$(2%+J+7'1.$($;'($)*+b-%.'+J+>c-$.'.$K'+"*+&2%+
a"*"H$($2%+c-"+%"+6"1$K"*+6"+%-+-.$&$['($)*+'&+
92*K"*$2+%231"+4$K"1%$6'6+a$2&)#$('+
<MNPN@

?1.8(-&2+TY+?(("%2+'+&2%+1"(-1%2%+#:*$(2%
1-$ Z/0B/O?($ &$ '&M$ '(](M$ 0&%:/0&'(M6$ %&N&$ V&O4($ &N/;4&Of$ ?(N:N&M6$ M(5c0$ ;O/%(N&6$
%/0$ ?:O&M$ &$ &M(58O&O$ =8($ M($ /L4(05&$ ('$ %/0M(04:?:(04/$ B80N&?(04&N/$ ;O(P:/$ /$ '&$
&;O/L&%:S0$]$;&O4:%:;&%:S0$N($'&M$%/?80:N&N(M$:0NX5(0&M$]$'/%&'(M$;&O&$('$&%%(M/$&$
'/M$O(%8OM/M$5(0<4:%/M$%8&0N/$(M4&M$4(05&0$('$N(O(%9/$(M4&L'(%:N/$&$/4/O5&O$&%%(M/$&$
N:%9/M$O(%8OM/M-

?1.8(-&2+OY+?(("%2+'+(2*2($/$"*.2%+.1'6$($2*'&"%+'%2($'62%+'+1"(-1%2%+#"*:.$(2%
R($%/0B/O?:N&N$%/0$'&M$'(](M$0&%:/0&'(M6$%&N&$V&O4($&N/;4&Of$?(N:N&M6$M(5c0$;O/%(N&6$
%/0$?:O&M$&$&M(58O&O$=8($M($&%%(N&$&$'/M$%/0/%:?:(04/M$4O&N:%:/0&'(M$&M/%:&N/M$&$O(%8OM/M$
5(0<4:%/M$=8($(M4f0$(0$;/M(M:S0$N($%/?80:N&N(M$:0NX5(0&M$]$'/%&'(M$%/0$('$%/0M(04:?:(04/$
B80N&?(04&N/$;O(P:/$/$'&$&;O/L&%:S0$]$;&O4:%:;&%:S0$N($N:%9&M$%/?80:N&N(M$:0NX5(0&M$]$
'/%&'(M6$]$=8($M($9&]&0$(M4&L'(%:N/$%/0N:%:/0(M$?848&?(04($&%/ON&N&M-

1# 54
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

Legislacin Interna
de Guatemala

55
1$
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

92*%.$.-($)*+72&8.$('+6"+&'+G";d3&$('+
?1.8(-&2+ SUY$ 06"*.$6'6+ (-&.-1'&Y$ 7($ O(%/0/%($ ('$ N(O(%9/$ N($ '&M$ ;(OM/0&M$ ]$ N($ '&M$
%/?80:N&N(M$&$M8$:N(04:N&N$%8'48O&'$N($&%8(ON/$&$M8M$P&'/O(M6$M8$'(058&$]$M8M$%/M48?LO(M-
?1.8(-&2+TTY$712."(($)*+'+#1-;2%+:.*$(2%Y+>8&4(?&'&$(M4f$B/O?&N&$;/O$N:P(OM/M$5O8;/M$
<40:%/M$ (04O($ '/M$ =8($ B:58O&0$ '/M$ 5O8;/M$ :0NX5(0&M$ N($ &M%(0N(0%:&$ ?&]&-$ ^'$ ^M4&N/$
O(%/0/%(6$O(M;(4&$]$;O/?8(P($M8M$B/O?&M$N($P:N&6$%/M48?LO(M6$4O&N:%:S0$(M6$B/O?&M$N($
/O5&0:3&%:S0$M/%:&'6$('$8M/$N('$4O&Q($:0NX5(0&$(0$9/?LO(M$]$?8Q(O(M6$:N:/?&M$]$N:&'(%4/M-
?1.8(-&2+ TOY$ 712."(($)*+ '+ &'%+ .$"11'%+ J+ &'%+ (22;"1'.$K'%+ '#18(2&'%+ $*68#"*'%Y+ d&M$
4:(OO&M$ N($ '&M$ %//;(O&4:P&M6$ %/?80:N&N(M$ :0NX5(0&M$ /$ %8&'(M=8:(O&$ /4O&M$ B/O?&M$ N($
4(0(0%:&$ %/?80&'$ /$ %/'(%4:P&$ N($ ;O/;:(N&N$ &5O&O:&6$ &MX$ %/?/$ ('$ ;&4O:?/0:/$ B&?:':&O$ ]$
P:P:(0N&$ ;/;8'&O6$ 5/3&Of0$ N($ ;O/4(%%:S0$ (M;(%:&'$ N('$ ^M4&N/6$ &M:M4(0%:&$ %O(N:4:%:&$ ]$ N($
4<%0:%&$;O(B(O(0%:&'6$=8($5&O&04:%(0$M8$;/M(M:S0$]$N(M&OO/''/6$&$B:0$N($&M(58O&O$&$4/N/M$'/M$
9&L:4&04(M$80&$?(Q/O$%&':N&N$N($P:N&-
d&M$%/?80:N&N(M$:0NX5(0&M$]$/4O&M$=8($4(05&0$4:(OO&M$=8($9:M4SO:%&?(04($'(M$;(O4(0(%(0$
]$=8($4O&N:%:/0&'?(04($9&0$&N?:0:M4O&N/$(0$B/O?&$(M;(%:&'6$?&04(0NOf0$(M($M:M4(?&-

?1.8(-&2+TUY$D$"11'%+;'1'+(2/-*$6'6"%+$*68#"*'%Y+2(N:&04($;O/5O&?&M$(M;(%:&'(M$]$
'(5:M'&%:S0$&N(%8&N&6$('$^M4&N/$;O/P((Of$N($4:(OO&M$(M4&4&'(M$&$'&M$%/?80:N&N(M$:0NX5(0&M$
=8($'&M$0(%(M:4(0$;&O&$M8$N(M&OO/''/-
?1.8(-&2+ TVY+ D1'%&'($)*+ 6"+ .1'3'E'621"%+ J+ %-+ ;12."(($)*Y+ d&M$ &%4:P:N&N(M$ '&L/O&'(M$
=8($ :?;':=8(0$ 4O&M'&%:S0$ N($ 4O&L&Q&N/O(M$ B8(O&$ N($ M8M$ %/?80:N&N(M6$ M(Of0$ /LQ(4/$ N($
;O/4(%%:S0$]$'(5:M'&%:S0$=8($&M(58O(0$'&M$%/0N:%:/0(M$&N(%8&N&M$N($M&'8N6$M(58O:N&N$]$
;O(P:M:S0$M/%:&'$=8($:?;:N&0$('$;&5/$N($M&'&O:/M$0/$&Q8M4&N/M$&$'&$'(]6$'&$N(M:04(5O&%:S0$
N($(M&M$%/?80:N&N(M$]$(0$5(0(O&'$4/N/$4O&4/$N:M%O:?:0&4/O:/-
?1.8(-&2+ONY$!"J+"%;"(8H$('Y+U0&$'(]$O(58'&Of$'/$O('&4:P/$&$'&M$?&4(O:&M$N($(M4&$M(%%:S0-
?1.8(-&2+OTY+B$%."/'+"6-('.$K2+J+"*%"e'*['+3$&$*#f"Y+d&$&N?:0:M4O&%:S0$N('$M:M4(?&$
(N8%&4:P/$N(L(Of$M(O$N(M%(04O&':3&N/$]$O(5:/0&':3&N/-
^0$'&M$(M%8('&M$(M4&L'(%:N&M$(0$3/0&M$N($;O(N/?:0&04($;/L'&%:S0$:0NX5(0&6$'&$(0M(k&03&$
N(L(Of$:?;&O4:OM($;O(B(O(04(?(04($(0$B/O?&$L:':05e(-

9)6$#2+7"*'&+
<G"H21/'62+MNNM@
?1.8(-&2+MNM+<3$%@Y$4$%(1$/$*'($)*Y$7($(04(0N(Of$%/?/$N:M%O:?:0&%:S0$4/N&$N:M4:0%:S06$
O(M4O:%%:S06$/$;O(B(O(0%:&$L&M&N&$(0$?/4:P/M$N($5<0(O/6$O&3&6$(40:&6$:N:/?&6$(N&N6$O(':5:S06$
M:48&%:S0$(%/0S?:%&6$(0B(O?(N&N6$N:M%&;&%:N&N6$(M4&N/$%:P:'$/$(0$%8&'=8:(O&$/4O/$?/4:P/6$
O&3S0$ /$ %:O%80M4&0%:&6$ =8($ :?;:N:(O($ /$ N:B:%8'4&O($ &$ 80&$ ;(OM/0&6$ 5O8;/$ N($ ;(OM/0&M$ /$
&M/%:&%:/0(M6$ ('$ (Q(O%:%:/$ N($ 80$ N(O(%9/$ '(5&'?(04($ (M4&L'(%:N/$ :0%'8](0N/$ ('$ N(O(%9/$

1' 56
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

%/0M8(48N:0&O:/$/$%/M48?LO(6$N($%/0B/O?:N&N$%/0$'&$Z/0M4:48%:S0$V/'X4:%&$N($'&$`(;cL':%&$
]$'/M$4O&4&N/M$:04(O0&%:/0&'(M$(0$?&4(O:&$N($N(O(%9/M$98?&0/M-
o8:(0$;/O$&%%:S0$8$/?:M:S0$:0%8OO:(O($(0$'&$%/0N8%4&$N(M%O:4&$(0$('$;fOO&B/$&04(O:/O6$M(Of$
M&0%:/0&N/$%/0$;O:M:S0$N($80/$&$4O(M$&k/M$]$?8'4&$N($=8:0:(04/M$&$4O(M$?:'$=8(43&'(M-
d&$;(0&$M($&5O&P&Of$(0$80&$4(O%(O&$;&O4(D
Z8&0N/$'&$N:M%O:?:0&%:S0$M(&$;/O$O&3S0$:N:/?f4:%&6$%8'48O&'$/$<40:%&-
V&O&$ =8:(0$ N($ %8&'=8:(O$ B/O?&$ ]$ %8&'(M=8:(O&$ ?(N:/$ N:B80N&6$ &;/]($ /$ :0%:4($ :N(&M$
N:M%O:?:0&4/O:&M-
Z8&0N/$('$9(%9/$M($%/?(4:N/$;/O$B80%:/0&O:/$;cL':%/$/$(?;'(&N/$;cL':%/$(0$('$(Q(O%:%:/$
N($M8$%&O5/-
Z8&0N/$('$9(%9/$M(&$%/?(4:N/$;/O$80$;&O4:%8'&O$(0$'&$;O(M4&%:S0$N($80$M(OP:%:/$;cL':%/-$

9)6$#2+X-*$($;'&+
<4"(1".2+*gY+PMhMNNM@
?1.8(-&2+ MNY$ 92/-*$6'6"%+ 6"+ &2%+ ;-"3&2%+ $*68#"*'%Y$ d&M$ %/?80:N&N(M$ N($ '/M$
;8(L'/M$:0NX5(0&M$M/0$B/O?&M$N($%/9(M:S0$M/%:&'$0&48O&'$]$%/?/$4&'(M$4:(0(0$N(O(%9/$&'$
O(%/0/%:?:(04/$N($M8$;(OM/0&':N&N$Q8OXN:%&6$N(L:(0N/$:0M%O:L:OM($(0$('$O(5:M4O/$%:P:'$N($'&$
?80:%:;&':N&N$%/OO(M;/0N:(04(6$%/0$O(M;(4/$N($M8$/O5&0:3&%:S0$]$&N?:0:M4O&%:S0$:04(O0&$
=8($M($O:5($N($%/0B/O?:N&N$%/0$M8M$0/O?&M6$P&'/O(M$]$;O/%(N:?:(04/M$;O/;:/M6$%/0$M8M$
O(M;(%4:P&M$&84/O:N&N(M$4O&N:%:/0&'(M$O(%/0/%:N&M$]$O(M;(4&N&M$;/O$('$^M4&N/6$N($&%8(ON/$
&$N:M;/M:%:/0(M$%/0M4:48%:/0&'(M$]$'(5&'(M-
?1.8(-&2+MPY+G"&'($2*"%+6"+&'%+(2/-*$6'6"%+6"+&2%+;-"3&2%+$*68#"*'%+"*.1"+%8Y+7($
O(M;(4&0$]$O(%/0/%(0$'&M$B/O?&M$;O/;:&M$N($O('&%:S0$8$/O5&0:3&%:S0$N($'&M$%/?80:N&N(M$
N($ '/M$ ;8(L'/M$ :0NX5(0&M$ (04O($ MX6$ N($ &%8(ON/$ &$ %O:4(O:/M$ ]$ 0/O?&M$ 4O&N:%:/0&'(M$ /$ &$ '&$
N:0f?:%&$=8($'&M$?:M?&M$%/?80:N&N(M$5(0(O(0-
?1.8(-&2+SSY$?&('&68'%+$*68#"*'%Y+^'$5/L:(O0/$N('$?80:%:;:/$N(L($O(%/0/%(O6$O(M;(4&O$]$
;O/?/P(O$'&M$&'%&'NX&M$:0NX5(0&M6$%8&0N/$<M4&M$(C:M4&06$:0%'8](0N/$M8M$;O/;:&M$B/O?&M$N($
B80%:/0&?:(04/$&N?:0:M4O&4:P/-
?1.8(-&2+TSY+92*%-&.'%+'+&'%+(2/-*$6'6"%+2+'-.21$6'6"%+$*68#"*'%+6"&+/-*$($;$2Y+
Z8&0N/$'&$0&48O&'(3&$N($80$&M804/$&B(%4($(0$;&O4:%8'&O$'/M$N(O(%9/M$]$'/M$:04(O(M(M$N($'&M$
%/?80:N&N(M$:0NX5(0&M$N('$?80:%:;:/$/$N($M8M$&84/O:N&N(M$;O/;:&M6$('$Z/0%(Q/$280:%:;&'$
O(&':3&Of$ %/0M8'4&M$ &$ M/':%:48N$ N($ '&M$ %/?80:N&N(M$ /$ &84/O:N&N(M$ :0NX5(0&M6$ :0%'8M:P($
&;':%&0N/$%O:4(O:/M$;O/;:/M$N($'&M$%/M48?LO(M$]$4O&N:%:/0(M$N($'&M$%/?80:N&N(M$:0NX5(0&M-

57 1%
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

!"J+6"+06$2/'%+L'($2*'&"%+
<4"(1".2+*gY+PVhMNNQ@
?1.$(-&2+PY$06$2/'%+*'($2*'&"%Y$^'$:N:/?&$/B:%:&'$N($>8&4(?&'&$(M$('$(M;&k/'-$^'$^M4&N/$
O(%/0/%(6$;O/?8(P($]$O(M;(4&$'/M$:N:/?&M$N($'/M$;8(L'/M$2&]&M6$>&OXB80&$]$g:0p&-
?1.$(-&2+ MY$06"*.$6'6Y+d/M$:N:/?&M$2&]&M6$>&OXB80&$]$g:0p&$M/0$('(?(04/M$(M(0%:&'(M$
N($'&$:N(04:N&N$0&%:/0&'n$M8$O(%/0/%:?:(04/6$O(M;(4/6$;O/?/%:S06$N(M&OO/''/$]$84:':3&%:S0$
(0$ '&M$ (MB(O&M$ ;cL':%&M$ ]$ ;O:P&N&M$ M($ /O:(04&0$ &$ '&$ 80:N&N$ 0&%:/0&'$ (0$ '&$ N:P(OM:N&N$ ]$
;O/;(0N(0$&$B/O4&'(%(O$'&$:04(O%8'48O&':N&N$(04O($'/M$%/00&%:/0&'(M-
?1.$(-&2+ UY$ F.$&$['($)*-$ ^0$ ('$ 4(OO:4/O:/$ >8&4(?&'4(%/$ '/M$ :N:/?&M$ 2&]&M6$ >&OXB80&$ ]$
g:0p&$ ;/NOf0$ 84:':3&OM($ (0$ '&M$ %/?80:N&N(M$ ':05eXM4:%&M$ =8($ %/OO(M;/0N&06$ (0$ 4/N&M$
M8M$B/O?&M6$M:0$O(M4O:%%:/0(M$(0$('$f?L:4/$;cL':%/$]$;O:P&N/6$(0$&%4:P:N&N(M$(N8%&4:P&M6$
&%&N<?:%&M6$M/%:&'(M6$(%/0S?:%&M6$;/'X4:%&M$]$%8'48O&'(M-
?1.$(-&2+ VY$ D1'6-(($)*+ J+ 6$K-&#'($)*Y+ d&M$ '(](M6$ :0M4O8%%:/0(M6$ &P:M/M6$ N:M;/M:%:/0(M6$
O(M/'8%:/0(M6$/ON(0&03&M$N($%8&'=8:(O$0&48O&'(3&6$N(L(Of0$4O&N8%:OM($]$N:P8'5&OM($(0$'/M$
:N:/?&M$2&]&M6$>&OXB80&$]$g:0p&6$N($&%8(ON/$&$M8$%/?80:N&N$/$O(5:S0$':05eXM4:%&6$;/O$'&$
Y%&N(?:&$N($'&M$d(058&M$2&]&M$N($>8&4(?&'&-

!"J+6"+712/2($)*+>6-('.$K'+(2*.1'+&'+
4$%(1$/$*'($)*+
<4"(1".2+*gY+UPhMNNM@
?1.$(-&2+ PY$ d/M$ ?:0:M4(O:/M$ N($ ^N8%&%:S0$ ]$ N($ Z8'48O&$ ]$ R(;/O4(M6$ ;O/?/P(Of0$ ]$
N:B80N:Of06$('$O(M;(4/$]$'&$4/'(O&0%:&$9&%:&$'&$T&%:S0$58&4(?&'4(%&$=8($(M$;'8O:%8'48O&'6$
?8'4:':05e($ ]$ ?8'4:<40:%&-$ YM:?:M?/$ ;O/?/P(Of0$ ]$ N:B80N:Of0$ ;O/5O&?&M$ 4(0N:(04(M$
9&%:&$ '&$ (':?:0&%:S0$ N($ '&$ N:M%O:?:0&%:S0$ <40:%&$ /$ O&%:&'6$ N($ 5<0(O/$ ]$ 4/N&$ B/O?&$ N($
N:M%O:?:0&%:S06$%/0$('$/LQ(4/$N($=8($4/N/M$'/M$58&4(?&'4(%/M$P:P&?/M$(0$&O?/0X&-
?1.$(-&2+ MY$ ^M$ B80%:S0$ N('$ 2:0:M4(O:/$ N('$ ^N8%&%:S0$ :0%'8:O$ (0$ ('$ ;O/%(M/$ N($ `(B/O?&$
^N8%&4:P&$ ('$ (0B/=8($ &$ '&$ (':?:0&%:S0$ N($ '&$ N:M%O:?:0&%:S0$ (0$ 4/N&M$ M8M$ $ B/O?&MD$ (0$ ('$
08(P/$%8OOX%8'/6$(0$'/M$?&4(O:&'(M$(N8%&4:P/M$]$(0$'&M$&%%:/0(M$N($^0M(k&03&$*Y;O(0N:3&Q(-

F%2+6"+&2%+D1'E"%+D8;$(2%+
<?(-"162+X$*$%."1$'&+*gY+VQN++
G"H21/'62+"*+MNNQ@
?1.8(-&2+PY$o8($4/N/M$'/M$(M4&L'(%:?:(04/M$(N8%&4:P/M$/B:%:&'(M$]$;O:P&N/M$N($'&$`(;cL':%&$
M($N(L($;O/?/P(O$]$O(M;(4&O$('$8M/$N('$4O&Q($:0NX5(0&$;/O$'/M$E&MG$(M48N:&04(M6$?&(M4O/M$
E&MG6$ ;(OM/0&'$ 4<%0:%/$ ]$ &N?:0:M4O&4:P/6$ (0$ '&M$ &%4:P:N&N(M$ N/%(04(M6$ %XP:%&M6$ M/%:&'(M6$
;O/4/%/'&O:&M$]$/4O&M6$M:0$O(M4O:%%:S0$&'580&-$^0$%/0M(%8(0%:&$M($;O/9XL($4/N&M$&=8(''&M$
B/O?&M$]$&%%:/0(M$=8($4:(0N&0$&$':?:4&O$(M4($N(O(%9/-

1 58
!"#$%&'()'*)+,--".."'!,#/)+$0"'!1*2!3

?1.8(-&2+ QY$ d&M$ &84/O:N&N(M$ (N8%&4:P&M$ 4:(0(0$ ;O/9:L:N/$ /L':5&O$ &$ '/M$ E&MG$ (M48N:&04(M$
:0NX5(0&M$ &$ 84:':3&O$ ('$ 80:B/O?($ N($ '/M$ (M4&L'(%:?:(04/M$ (N8%&4:P/M$ %8]/$ 8M/$ N(P:(0($
/;%:/0&'-

>6-('($)*+a$&$*#f"+X-&.$(-&.-1'&+"+0*."1(-&.-1'&+
"*+"&+B$%."/'+>6-('.$K2+L'($2*'&+
<?(-"162+,-3"1*'.$K2+*gY+MMhMNNR@
?1.8(-&2+PY$>(0(O&':3&%:S0$N('$L:':05e:M?/-$7($(M4&L'(%($'&$/L':5&4/O:(N&N$N('$L:':05e:M?/$
(0$:N:/?&M$0&%:/0&'(M$%/?/$;/'X4:%&$':05eXM4:%&$0&%:/0&'6$'&$%8&'$4(0NOf$&;':%&%:S0$;&O&$
4/N/M$ '/ME'&MG$ (M48N:&04(M$ N($ '/M$ M(%4/O(M$ ;cL':%/$ ]$ ;O:P&N/-$ ^'$ ;O:?(O$ :N:/?&$ ;&O&$ ('$
&;O(0N:3&Q($(M$('$?&4(O0/$N($%&N&$;(OM/0&6$('$M(580N/$:N:/?&$(M$/4O/$0&%:/0&'$]6$('$4(O%(O$
:N:/?&$N(L($M(O$(C4O&0Q(O/-
?1.8(-&2+ MY$ >(0(O&':3&%:S0$ N($ '&$ ?8'4:%8'48O&':N&N$ ($ :04(O%8'48O&':N&N-$ 7($ (M4&L'(%($ '&$
/L':5&4/O:(N&N$ N($ '&$ (0M(k&03&$ ]$ ;Of%4:%&$ N($ '&$ ?8'4:%8'48O&':N&N$ ($ :04(O%8'48O&':N&N$
%/?/$;/'X4:%&M$;cL':%&M$;&O&$('$4O&4&?:(04/$N($'&M$N:B(O(0%:&M$<40:%&M$]$%8'48O&'(M$;&O&$
4/N/M$'/M$(M48N:&04(M$N($'/M$M(%4/O(M$;cL':%/$]$;O:P&N/-
?1.8(-&2+TY$V(O4:0(0%:&$N('$Z8OOX%8'/$;&O&$V8(L'/M$W0NX5(0&M-$d/M$;O/5O&?&M$]$M(OP:%:/M$
(N8%&4:P/M$N($'/M$;8(L'/M$:0NX5(0&M$N(L(Of0$N(M&OO/''&OM($]$&;':%&OM($(0$%//;(O&%:S0$%/0$
(M4/M6$&$B:0$N($O(M;/0N(O$&$M8M$0(%(M:N&N(M$;&O4:%8'&O(M6$]$N(L(Of0$&L&O%&O$M8$9:M4/O:&6$
%/0/%:?:(04/M6$ 4<%0:%&M6$ M:M4(?&$ N($ P&'/O(M6$ :N:/?&6$ ':4(O&48O&$ ]$ N(?fM$ &M;:O&%:/0(M$
M/%:&'(M6$(%/0S?:%&M6$':05eXM4:%&M$]$%8'48O&'(M-

59 1
!"#$%&'(")*"+,%)-%.(*-/0(1&)(&2%,&/0("&/-)3)&/0("&/-)*"+,%)'%,%04"*)'%)-"*)$5%+-"*)(&'6.%&/*

G"H"1"*($'%+'+&2%+62(-/"*.2%+(2/;&".2%+"*+$*."1*".
=1#'*$['($)*+6"+L'($2*"%+F*$6'%
1""H$ T&%:/0(M$ U0:N&MD$ R(%'&O&%:S0$ N($ '&M$ T&%:/0(M$ U0:N&M$ M/LO($ '/M$ N(O(%9/M$ N($ '/M$
;8(L'/M$ :0NX5(0&M-$ >:0(LO&-$ T&%:/0(M$ U0:N&M-$ E944;DAAKKK-80-/O5A(M&AM/%N(PA80;B::A
N/%8?(04MAR`WV7q(M-;NBG
!,I,$ \W@D$ Z/0P(0:/$ 0r$ ![,$ M/LO($ ;8(L'/M$ :0NX5(0&M$ ]$ 4O:L&'(M$ (0$ ;&XM(M$ :0N(;(0N:(04(M-$
>:0(LO&-$$\W@-$E944;DAAKKK-/:4-/O5-;(AsR27AL:LA;8L'A':LO/MA%/0P(0:/q![,q"H-;NBG
!,,1$ T&%:/0(M$ U0:N&MD$ Z/0P(0:/$ M/LO($ '&$ N:P(OM:N&N$ L:/'S5:%&-$ >:0(LO&-$ T&%:/0(M$ U0:N&M-$
E944;MDAAKKK-%LN-:04AN/%A'(5&'A%LN*(M-;NBG
!,[)$ T&%:/0(M$ U0:N&MD$ Z/0P(0:/$ :04(O0&%:/0&'$ M/LO($ '&$ (':?:0&%:S0$ N($ 4/N&M$ '&M$ B/O?&M$
N($ N:M%O:?:0&%:S0$ O&%:&'-$ >:0(LO&-$ T&%:/0(M$ U0:N&M-$ E944;DAAKKK-/9%9O-/O5A7VA
VO/B(MM:/0&'W04(O(M4AV&5(MAZ^`R-&M;CG
!,JI$ T&%:/0(M$ U0:N&MD$ Z/0P(0:/$ ;&O&$ '&$ ;O(P(0%:S0$ ]$ '&$ M&0%:S0$ N('$ N(':4/$ N($ 5(0/%:N:/-$
>:0(LO&-$ T&%:/0(M$ U0:N&M-$ E944;MDAAKKK-:%O%-/O5AM;&AO(M/8O%(MAN/%8?(04MA?:M%A
4O(&4]*!,JI*%/0P*5(0/%:N(*)4N?[9-94?G
1"!"$ T&%:/0(M$U0:N&MD$VO/4/%/'/$N($T&5/]&$M/LO($&%%(M/$&$'/M$O(%8OM/M$5(0<4:%/M$]$;&O4:%:;&%:S0$
Q8M4&$ ]$ (=8:4&4:P&$ (0$ '/M$ L(0(B:%:/M$ =8($ M($ N(O:P(0$ N($ M8$ 84:':3&%:S0$ &'$ %/0P(0:/$ M/LO($
'&$ N:P(OM:N&N$ L:/'S5:%&-$ >:0(LO&-$ T&%:/0(M$ U0:N&M-$ E944;DAAKKK-%/0&%]4-?CA%:L:/5(?A
:?&5(MA%:L:/5(?A%/?80:%&%:/0A;8L':%&%:/0(MA0&5/]&*;O/4/%/'*(M-;NBG$
!"#$%&'($)*+$*."1*'+6"+,-'."/'&'
!,I)$ Z/05O(M/$N($'&$`(;cL':%&$N($>8&4(?&'&D$Z/0M4:48%:S0$V/'X4:%&$N($'&$`(;cL':%&-$>8&4(?&'&-$
E944;DAAKKK-%%-5/L-54AR/%8?(04/MZZAZ/0M4:48%:/0>8&4(?&'&-;NBG
!,H+$ Z/05O(M/$ N($ '&$ `(;cL':%&$ N($ >8&4(?&'&D$ ZSN:5/$ ;(0&'-$ >8&4(?&'&-$ E944;DAA
K K K- / Q - 5 / L - 5 4 A ( M A o 8 ( ^ M \ b A ^ M 4 O 8 % 4 8 O & \ b A U 0 : N & N ( M Y N ? : 0 : M 4 O & 4 : P & M A
Z(04O/Y0&':M:MR/%8?(04&%:/0b8N:%:&'A'(CAZ/N:5/V(0&'-94?G
1""1$ Z/05O(M/$ N($ '&$ `(;cL':%&$ N($ >8&4(?&'&D$ ZSN:5/$ ?80:%:;&'-$ >8&4(?&'&-$ E944;DAAKKK-
80:%(B-/O5A58&4(?&'&AM;&0:M9AZ/N:5/280:%:;&'-;NBG
1""+$ Z/05O(M/$ N($ '&$ `(;cL':%&D$ d(]$ N($ :N:/?&M$ 0&%:/0&'(M-$ >8&4(?&'&-$ E944;DAAKKK-80:%(B-
/O5A58&4(?&'&AM;&0:M9Ad(]WN:/?&MT&%:/0&'(M-;NBG
1""1$ Z/05O(M/$ N($ '&$ `(;cL':%&$ N($ >8&4(?&'&D$ d(]$ N($ ;O/?/%:S0$ (N8%&4:P&$ %/04O&$ '&$
N:M%O:?:0&%:S0-$ >8&4(?&'&-$ E944;DAA/'N-%/05O(M/-5/L-54A&O%9:P/MAN(%O(4/MA1""1A
54N%CI!*1""1-;NBG$
1""+$ Z/05O(M/$ N($ '&$ `(;cL':%&$ N($ >8&4(?&'&D$ UM/$ N($ '/M$ 4O&Q(M$ 4X;:%/M-$ >8&4(?&'&-$ E944;DAA
:4-!"*?8'4&-%/?A'&KA,II[A:0N(C-94?'t;&5(uJ)G$
1""J$ Z/05O(M/$N($'&$`(;cL':%&$N($>8&4(?&'&D$^N8%&%:S0$L:':05e($?8'4:%8'48O&'$($:04(O%8'48O&'$
(0$ ('$ M:M4(?&$ (N8%&4:P/$ 0&%:/0&'-$ >8&4(?&'&-$ E944;DAAKKK-:&NL-/O5A`(M(&O%9A
'(5:M'&%:/0:0N:5(0&A'(]0AN/%MA>UY*Y%8(ON/*>8L*11*"J*>(0(O&':3&O*^N8%&*a:':0*-94?G

(! 60
-'/+1,*.,#
0'1
./ 2
-'
&'( *,"(-

*)%
)*+

2,$%0)+1

!"#$

!"#$!%
!%

.2

,
CHOLSAMAJ

Vous aimerez peut-être aussi