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RK JFKFPQOL MLONRB MFBKPL NRB KRBPQOL M>PQLO BP AB IL JBGLO BK
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IBVBKAL ABI SBOP@RIL 
$M DK OQHLDQ SQ@S@CN NG 3DEHKN G@AK @BDQB@ CD SNC@R
K@R BNR@R PTD )DRR BNLDMY @ G@BDQ X @ DMRD@Q
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G@ADQ C@CN L@MC@LHDMSNR ONQ DK $ROQHST 2@MSN @ KNR
@ORSNKDR PTD G@A@ DRBNFHCN
@ PTHDMDR S@LAHM CDROTR CD G@ADQ O@CDBHCN
RD OQDRDMS UHUN BNM LTBG@R OQTDA@R HMCTAHS@AKDR
@O@QDBHMCNRDKDR CTQ@MSD BT@QDMS@ C@R X G@AKMCNKDR
@BDQB@ CDK QDHMN CD #HNR
8 DRS@MCN ITMSNR KDR L@MC PTD MN RD ETDQ@M CD
)DQTR@KM RHMN PTD DRODQ@RDM K@ OQNLDR@ CDK /@CQD K@
BT@K KDR CHIN NRSDHR CD L
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UNRNSQNR RDQHR A@TSHY@CNR BNM DK $ROQHST 2@MSN CDMSQN
CD MN LTBGNR C@R
$MSNMBDR KNR PTD RD G@A@M QDTMHCN KD OQDFTMS@QNM
CHBHDMCN 2DNQ vQDRS@TQ@QR DK QDHMN @ (RQ@DK DM DRSD
SHDLON
8 KDR CHIN -N NR SNB@ @ UNRNSQNR R@ADQ KNR SHDLONR N K@R
R@YNMDR PTD DK /@CQD OTRN DM RT RNK@ ONSDRS@C
ODQN QDBHAHQHR ONCDQ BT@MCN G@X@ UDMHCN RNAQD
UNRNSQNR DK $ROQHST 2@MSN X LD RDQHR SDRSHFNR DM
)DQTR@KM X DM)TCD@ X DM 2@L@QH@ X G@RS@ KN KSHLN
CD K@ SHDQQ@
8 G@AHDMCN CHBGN DRS@R BNR@R UHMCNKN DKKNR ETD
@KY@CN X KD QDBHAH TM@ MTAD PTD KD NBTKS CD RTR NINR
8 DRS@MCN DKKNR BNM KNR NINR OTDRSNR DM DK BHDKN DMSQD
S@MSN PTD K RD HA@ GD @PT RD OTRHDQNM ITMSN @ DKKNR CNR
U@QNMDR BNM UDRSHCTQ@R AK@MB@R
KNR BT@KDR S@LAHM KDR CHIDQNM 5@QNMDR F@KHKDNR vONQ
PT DRSHR LHQ@MCN @K BHDKN $RSD LHRLN )DRR PTD G@
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G@AHR UHRSN HQ @K BHDKN
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+LJ?OB ABI 0BLO 'BPP M>O> LCOB@BO >KQB 1F MOFJBO>JBKQB
KRBPQO> DO>QFQRA MLO IL NRB E>P EB@EL MLO KLPLQOLP V PL?OB
QLA>P I>P @LP>P MLO BP> ?BKAFQ> PBDROFA>A NRB OBMLP> BK KRBPQOLP
@LO>WLKBP AB NRB PLJLP P>ISLP P>ISLP AB I> JRBOQB P>ISLP ABI
FKCFBOKL P>ISLP AB RK> SFA> AB MB@>AL P>ISLP AB I>P @LP>P ABI
JRKAL V EBJLP PFAL II>J>ALP > I> BK> AB I> DO>K LA> ABI
%FGL AB !FLP \ RKQL 1B >J>JLP 0BLO MLO BPQL "P JP NRB I>
SFA> M>O> KLPLQOLP \BP 3FA> "QBOK>
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 6 BPQ>JLP @LKDOBD>ALP BK BPQ> J>>K> 0BLO M>O> LCOB@BO


BPQ>P BUMOBPFLKBP BK @>KQLP >DO>AB@FJFBKQL V BK I> MOBAF@> AB I>
->I>?O> M>OQFBKAL I> ->I>?O> AB 3FA> M>O> >NRBIILP 0BLO NRB
MRBA>K BPQ>O >NR NRB KL 1B @LKL@BK 6 KRBPQOL ABPBL V >J?F@FK
B FKQBK@FLKBP BP NRB "PQL ELV PB> I> @>RP> MLO I> NRB JR@ELP
NRB KL 1B @LKL@BK SBKD>K V @LKCFBPBK PRP MB@>ALP B FKSLNRBK
BI +LJ?OB ABI 0BLO V NRB PRP MB@>ALP IBP PB>K MBOALK>ALP
MLONRB E>K @LKCBP>AL PRP MB@>ALP V E>K PFAL ?>RQFW>ALP M>O>
PBO I>S>ALP AB PR MB@>AL 6 BKQLK@BP ->AOB LO>JLP NRB IIBKBP
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NRB !FLP KLP E> A>AL
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>CIFDFALP V KB@BPFQ>ALP ELV -RBP SBOA>ABO>JBKQB BI JRKAL BPQ
BK RK> @LKAF@FK AB KB@BPFA>A QLAL MLONRB KL >@RAFJLP > 1F
M>O> KRBPQO> ABCBKP> V KRBPQOL OBCRDFL
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@R>KAL I> DBKQB BPQ>?> BK >KDRPQF> V >MOFBQLP @JL BIILP
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BPLP A>P MBKP>?>K NRB BPLP MOLCBQ>P BO>K KBROQF@LP VV DBKQB
KBOSFLP> 6 NRFWP MRBABK E>?BOIL PFAL MBOL @LK QLAL BIILP
QBK>K I> ->I>?O> ABI 0BLO !FLP ELV @RKQL KB@BPFQ>JLP
AFOFDFOKLP AB KRBSL > I> ->I>?O> AB !FLP "IILP KLP E>K AF@EL
ABI QFBJML ABI CFK V IL NRB PBO> 6 MBOJFQB NRB KLPLQOLP
@LJL SBOA>ABOLP OFPQF>KLP JFOBJLP PRPR QBPQFJLKFL V ->AOB
ABPMRP A>OIB QBPQFJLKFL >I JRKAL LK@ABIL 0BLO
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AB BPQL M>O> CFG>O RK MBNRBL @LKQBUQL AB IL NRB ABPBL AB@FO
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CDK BHDKN DR RNAQD SNCNR
8 KN PTD UHN X NX DRSN SDRSHEHB@ X M@CHD QDBHAD RT
SDRSHLNMHN
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PRVL PTD #HNR DR UDQ@Y
 )  -)  / %  )  !

 !BPBL IBBO BPB SBOP@RIL  AB KRBSL M>O> E>@BO KC>PFP BK


BPB SBOP@RIL 
$K PTD G@ QDBHAHCN RT SDRSHLNMHN RSD @SDRSHFT@ M>O>
PBIIL PRVL PTD #HNR DR UDQ@Y
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SDRSHLNMHN CD TM UDQC@CDQN SDRSHFN \1BPQFJLKFL V QBPQFDL -LO
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AB RK QBPQFDL
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2A CRBO> II>J>AL > I> @LOQB 2A QBKAO> MLO AB@FO M>O>
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Q>J?FK RK QBPQFDL AB?B P>?BO AB IL NRB E>?I> I KL AB?B FO
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KB@BPFQ>JLP IIBD>O > RK IRD>O ALKAB BPQBJLP MLPFQFS>JBKQB
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@>ISFKFPQ> AB I> PBDROFA>A ABI @OBVBKQB BP MLONRB VL @OBL NRB
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BI JLJBKQL AB >@BMQ>O >I 0BLO 'BPP V ABG>OIL OBPRBIQL BK
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KRBPQOLP MB@>ALP BI @>PQFDL AB KRBPQO> M>W CRB PL?OB I V MLO 0RP
II>D>P CRFJLP KLPLQOLP @RO>ALPq
  )> BU>@QFQRA I> MBOCB@@FK AB BPLP MOLCBQ>P KL E>?I>OLK
RK> PLI> ->I>?O> AB I NRB KL SFKFBO> > @RJMIFJFBKQL )>P
IQFJ>P PFBQB MOLCB@>P A>A>P AB I OB@F?FBOLK OBPMRBPQ> BK I>P
IQFJ>P PFBQB ELO>P PL?OB I> @ORW \ JL BP NRB @>A> ->I>?O> CRB
@RJMIFA> KL NRBA RK> PLI> @LP> NRB KL CRBO> EB@E>
  t!B NR E>?I> BPL !B RK> &KQBIFDBK@F> PRMOBJ> +L BO>K
BPLP ELJ?OBP "PLP ELJ?OBP BO>K ELJ?OBP @LJL 2A V VL -BOL
BIILP CRBOLK FKPMFO>ALP MLO RK 0BO PRMOBJL NRB BPQ>?> A>KAL
QBPQFJLKFL NRB KLPLQOLP BK BPQ> DBKBO>@FK V BK DBKBO>@FLKBP
MLO SBKFO V QLA>P I>P DBKBO>@FLKBP BKQOB BIILP V >NR MRAFBO>K
JFO>O 0R ->I>?O> V P>?BO NRB PLK @FBOQ>P "P RK QBPQFJLKFL NRB
I> ->I>?O> AB !FLP BP 3BOA>A
  1LA>P 0RP L?O>P PLK MBOCB@Q>P "II>P PLK MBOCB@Q>P V > QFBJML
KL C>II>K KF BK RK> ELO> IDRK>P SB@BP MBKP>JLP NRB IL E>OK
") 1"01&*,+&, !" 2+ 3 "/! !"/, 1"01&$, 

MBOL KL R>KAL @LK@IRVB SBJLP NRB KL MLA> >@LKQB@BO JP


OMFAL KL MRAL E>?BO PFAL JBGLO "P MBOCB@QL V > QFBJML
 RK BK KRBPQOL A> ELV @R>KAL SBJLP NRB PR@BABK BPQ>P
SFPFLKBP V I>P @LP>P NRB >@LKQB@BK 6 E>K PFAL MOBAF@E>P V KLP
MOBDRKQ>JLP t@RKAL PB @RJMIFOK NR FO > >@LKQB@BO -BOL KLP
A>JLP @RBKQ> NRB PLK MBOCB@Q>P V > QFBJML BU>@Q>JBKQB
 t JL ER?FBO> MLAFAL VL MBKP>O BK JF J>AOB @LJL I> SF
>K@F>K> V QBJ?ILOLP> 6 IRBDL @R>KAL I JB AFL I> SFPFK V SF I>
@LKAF@FK BK I> NRB BII> BPQ >ELO> \VL DILOFCFNR > !FLP 6L P
NRB BII> SBKAO AB KRBSL "II> KL BPQ JRBOQ> BII> ARBOJB "II>
BPQ BK OFPQL
 \3FBKAL @JL !FLP E> E>?I>AL BPQ>P @LP>P AB >KQBJ>KL )>
IQFJ> SBW NRB VL BPQRSB BK BI MIMFQL AB 2AP L >NR BK BI MIMFQL
E>?I AB RK> SFPFK NRB BI 0BLO JB AFL >@BO@> AB FO >I KLOQB
V IL NRB PR@BABO> 6 @JL BPLP ELJ?OBP >I ?>G>O I> JLKQ>>
AB@>K e%BOJ>KL O>KE>J t*B NRFBOB 2A AB@FO NRB BK >IDK
IRD>O AB >NR > >II >?>GL > JBAF> JFII> E>?O RK LPL DOFWWIF
MI>QB>AL \+L PB E> SFPQL RKL >KQBP t-BOL NRB PBO PRVL >KQBP AB
IIBD>O >IIq
6L AFGB e"PL BP @LKCLOJB > 0R ->I>?O>q
 \6 PR@BAF GRPQ>JBKQB AB BP> J>KBO> t-LO NR "PL A>
QBPQFJLKFL AB NRB I >K BP !FLP NRB QLA>P 0RP MOLJBP>P PLK
@FBOQ>P !FLP A> QBPQFJLKFL V 0RP QBPQFJLKFLP PLK SBOA>ABOLP I
A> RK QBPQFDL V BI QBPQFJLKFL QBPQFCF@> AB 0R QBPQFDL "PL E>?I> AB
RK> &KQBIFDBK@F> 0
 R>KAL 'BPP AB +>W>OBQ SFKL > I> QFBOO> QLA>P 0RP DO>KABP
L?O>P MLABOLP>P QBPQFCF@>OLK AB 0RP AB@I>O>@FLKBP +>AFB AB?F
G>JP ARA>O AB I I AFGL e0F KL *B @OBFP @OBBA > I>P L?O>P
PF 2AP KL MRBABK SBO NRB I BP !FLPq
e\1 *FPJL 1B E>@BP 0FBKAL ELJ?OB 1 *FPJL 1B
E>@BP !FLPq
 I AFGL e0F KL *B MLAFP @OBBO > * BKQLK@BP @OBBA > I>P
L?O>P MLONRB BII>P PLK ILP QBPQFJLKFLP AB !FLP A>KAL QBPQFJLKFL
AB NRB 6L PLV IL NRB AFGB NRB BO> 0F 2AP KL *B MRBABK @OBBO >
* @OB>K > I>P PB>IBP NRB AB?BO>K PBDRFOJB t+L PB PRMLKB NRB
BI *BP>P QBK> NRB E>@BO BPQ>P @LP>Pq t.R BO> I \1BPQFJLKFL
"II>P AFBOLK QBPQFJLKFL AB QLA> AB@I>O>@FK NRB I AFL
 *>OQ> PB M>O >II >I I>AL AB 'BPP V PR EBOJ>KL >II JRBOQL
V BK BI PBMRI@OL )> ABP@LJMLPF@FK E>?> @LJBKW>AL PR @RBOML
E>?> JRBOQL V I PLIL PB ABP@LJMLK> >II BK BI PBMRI@OL )LP
?F@ELP V> >OO>PQOKALPB BK PR @RBOML ILP DRP>KLP 6 PR OLPQOL
PB E>?> ABPJLOLK>AL -BOL BII> AFGL e0BLO KLPLQOLP @OBBJLP
NRB 1 BOBP BI %FGL AB !FLP NRB SBKAO> >I JRKAL AB BPL BPQ>JLP
PBDROLPq
 )  -)  / %  )  !

 I AFGL e6L PLV I> OBPROOB@@FK V I> 3FA> "I NRB @OBB BK *
>RKNRB BPQ JRBOQL SFSFO 1LAL >NRBI NRB SFSB V @OBB BK * KL
JLOFO BQBOK>JBKQB t OBBP BPQLq
 "II> AFGL e\0 0BLO 0 0BLO VL @OBL NRB 1 BOBP BI %FGL
AB !FLP NRB SBKAO> >I JRKALq
 eELO> 6L FO > JLPQO>OQB NRB PLV BI .RB BO> BI NRB AFGB NRB
6L BO> 6L A>O QBPQFJLKFL AB BPL -OL?>O *FP AB@I>O>@FLKBP AB
NRB 6L PLV IL NRB PLV t!KAB IL E>?FP PBMRIQ>ALq
6 BII> AFGL e0BLO SBK SBq
 "KQLK@BP JLPQO>KAL 0RP I>ALP ERJ>KLP I IILO @LK
>NRBIILP NRB IILO>K I PB OB @LK ILP NRB PB OBK I BPQ BK SF@QLOF>
@LK ILP NRB BPQK BK SF@QLOF> 1BKDJLPIL > I BK SF@QLOF>
 I CRB >I PBMRI@OL V PB M>O >II @R>KAL OLA>OLK I> MFBAO>
6 >II >ABKQOL V>@> BPB MBNRBL @RBOML @LK ILP DRP>KLP
ABP@LJMRBPQL QBKAFAL PL?OB I> QFBOO> BI OLPQOL ERKAFAL >I E>?BO
BKQO>AL I> @LOORM@FK I E>?I BP>P ->I>?O>P e\)W>OL SBK
CRBO>q 6 BPB ELJ?OB NRB BPQ>?> JRBOQL PB MRPL AB MFB V SFSF
AB KRBSL
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BO> BI %FGL AB !FLP I CRB JP NRB BI %FGL AB !FLP I BO> >J?>P
@LP>P %FGL V !FLP I BO> BI Q>?BOK@RIL AB !FLP MLONRB KFKDRK>
PBDRKA> MBOPLK> MRAFBO> QBKBO RK MLABO >P 0B OBNRBO> AB !FLP
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JRBOQL V PBMRIQ>AL @R>QOL A>P 0RP -OLMF>P L?O>P QBPQFCF@>OLK
AB QLA> AB@I>O>@FK NRB I EFWL I BO> !FLP
 +LPLQOLP P>?BJLP NRB BPL BP SBOA>A MRBP I IL AFGL "I
QBPQFJLKFL AB ILP MOLCBQ>P BI QBPQFJLKFL BK I> K>QRO>IBW>
BI QBPQFDL AB I> K>QRO>IBW> BI QBPQFJLKFL AB ILP MOLCBQ>P BI
QBPQFJLKFL AB 'BPP
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QBKFAL 0R QBPQFDL 6 @R>KAL I BPQ>?> >NR BK I> QFBOO> AFGL e,P
@LKSFBKB NRB 6L *B S>V> MLONRB PF KL *B SLV KL MRBAL BKSF>O
BPQB 1BPQFDL BPQB 1BPQFDL "QBOKL &KJLOQ>Iq
 I K>@F AB JRGBO MLO Q>KQL QBK> NRB ABP@LJMLKBOPB
QBK> NRB JLOFO JBGLO AF@EL !FLP KL MBOJFQFO> NRB 0R @RBOML
SFBO> @LOORM@FK -BOL I QRSL NRB JLOFO @LJL RK JLOQ>I M>O>
IIBS>O KRBPQOLP MB@>ALP
 -BOL >KQBP AB M>OQFO I KLP ABG RK QBPQFDL BI "PMOFQR 0>KQL
>PF QLALP ILP MOLCBQ>P PFBJMOB > QO>SP AB I> BA>A ABPAB RK
MOFK@FMFL >II >QOP E>?I>OLK AB BPQB DO>K 1BPQFDL NRB BPQ>O>
BK ILP IQFJLP A>P M>O> I> FDIBPF> KRBPQOL DO>K 1BPQFDL BI
"PMOFQR 0>KQL
 "I "PMOFQR 0>KQL BP KRBPQOL 1BPQFDL I BP I> MORB?> I BP
BI PBIIL I BP ILP ABOB@ELP >RQKQF@LP I BP BI QQRIL >?PQO>@QL
AB QLA> ->I>?O> NRB !FLP E>?I \JK I BP RK QBPQFDL AB NRB
") 1"01&*,+&, !" 2+ 3 "/! !"/, 1"01&$, 

OFPQL SFSB V MLONRB I SFSB KLPLQOLP Q>J?FK SFSFJLP I BP I>


AB@I>O>@FK >RQKQF@>
 0FBKAL NRB Q>I -BOPLK> SBKAO> BK ILP MLPQOBOLP A>P M>O>
DRF>O > I> &DIBPF> IB @LKSBK> > !FLP AB@FOIB > 0R MRB?IL NRB I
BPQ>O> >NR >PF QLALP ILP MOLCBQ>P QBPQFCF@>OLK AB 0R SBKFA>
ABI "PMOFQR 0>KQL
 ,@EL PFDILP >KQBP AB NRB PR@BAFBO> 'LBI BI EFGL AB -BQRBI
MOLCBQFW NRB I SBKAO> \,@EL@FBKQLP >LP >KQBP AB NRB
PR@BAFBO> "PQB DO>K EFGL AB -BQRBI RK MOLCBQ> @LKPFABO>AL
RK KBROQF@L ABPNRF@F>AL KBOSFLPL BJL@FLK>IJBKQB V
JBKQ>IJBKQB MBOQRO?>AL MOLCBQFW 'LBI  V AFGL
DM KNR ONRSQDQNR C@R CHBD #HNR #DQQ@L@Q LH
$ROQHST RNAQD SNC@ B@QMD 8 OQNEDSHY@QM UTDRSQNR GHINR
X UTDRSQ@R GHI@R
RNAQD LHR RHDQUNR XLHR RHDQU@R #DQQ@L@Q CD LH
$ROQHST X DKKNR OQNEDSHY@QM
8 C@Q OQNCHFHNR @QQHA@ DM DK BHDKN X @A@IN DM K@ SHDQQ@
RD@KDR BNKTLM@R CD ETDFN X CD GTLN X U@ONQ
8 RTBDCDQ PTD @MSDR PTD UDMF@ DK C@ FQ@MCD X
DRO@MSNRN CD )DGNU SNCN @PTDK PTD HMUNB@QD DK MNLAQD
CD )DGNU RDQ R@KUN
 ,@EL@FBKQLP >LP >KQBP AB NRB SFKFBO> BPQB DO>K 1BPQFDL
BI EFGL AB -BQRBI QBPQFCF@ AB "PL )L MOLCBQFW t.R E>?O
FJM>@Q>AL > BPB ELJ?OB@FQL
 !D>KJB NR @LP> MRBAB AB@FOIB BPL > RK ELJ?OB eK>@FAL AB
JRGBO @LOQL AB A>P V E>PQF>AL AB PFKP>?LOBPq BPL BP I !D>KJB
NR MRAL E>?BO FKNRFBQ>AL IL JP MOLCRKAL AB PR PBO >I MRKQL
NRB MRAL JFO>O > QO>SP ABI BPM>@FL V ABI QFBJML V SBO BPQB
DO>K 1BPQFDL SBKFO > I> FDIBPF> BK BI A> MLPQOBOL !D>KJB NR
MRAL E>?BOIL EB@EL \0LIL RK !FLP FKQBIFDBKQB PRMOBJL DO>KAB
V 1LALMLABOLPL "P IL KF@L NRB MRAL E>@BOIL 0B >MLABO AB
RK JLOQ>I e2K ELJ?OB K>@FAL AB JRGBO E>PQF>AL AB PFKP>?LOBP
V @LOQL AB A>Pq @LJL AFGL 'L?  e0>IB @LJL RK> CILO V BP
@LOQ>AL P BP @LOQ>AL MBOB@BO BKQOBD> BI "PMOFQRq -BOL PL?OB
BP> @I>PB AB MBOPLK> BI "PMOFQR I> FKQBIFDBK@F> AB RK DO>K !FLP
MLABOLPL MRBAB OLJMBO QLA> ?>OOBO> V BI QFBJML >?OFOPB @>JFKL
MLO >II @LK 0R "PMOFQR V JLPQO>OIB > RK JLOQ>I IL NRB PR@BABO
\IBIRV>
 0F BPB KL BP RK QBPQFJLKFL AB RK !FLP SFSL tNR IL PBO
\.RB MRBAB MOBAB@FO >IDL >KQBP AB NRB PR@BA> JK \.RB MRBAB
SBOIL >KQBP NRB PR@BA> 6 MOBAB@FOIL @LK FKQBIFDBK@F> V >@BOQ>O
MBOCB@Q>JBKQB PR@BAFBKAL BU>@Q>JBKQB @LJL I IL AFGL 0F BPB
KL BP RK QBPQFJLKFL tNR IL PBO t.R MRAFBO> E>?I>O JP AB RK
!FLP SFSL \0BDROL I BP RK QBPQFDL
 )  -)  / %  )  !

 %>?FBKAL PFAL MOLCBQFW>AL NRB SBKAO> > @RJMIFJFBKQL


e"K ILP MLPQOBOLP A>P NRB I ABOO>J>O> 0R "PMOFQR PL?OB
QLA> @>OKBq
 0BQBKQ> V @FK@L >LP ABPMRP AB NRB 'LBI MOLCBQFW &P>>P BI
EFGL AB JP I MOLCBQFW >@BO@> AB BPQB DO>K 1BPQFDL NRB SBKAO>
M>O> I> &DIBPF>
 t!B NR BPQLV E>?I>KAL 2K QBPQFDL RK SBOA>ABOL QBPQFDL RK
QBPQFDL OB>I QOFD>KIL > I MLO I> K>QRO>IBW> MLO ILP MOLCBQ>P MLO
I> F?IF> ELO> )L BPQ>JLP SFBKAL IIBD>KAL E>PQ> BI A> BK NRB
I PBO A>AL
 0BQBKQ> V @FK@L >LP >MOLUFJ>A>JBKQB PBQBKQ> V @FK@L >LP
ABPMRP AB NRB MOLCBQFW 'LBI BKQLK@BP IL AFGL &P>>P "I EFGL AB
JP BI DO>K MOLCBQ> NRB AFL I> F?IF> @LJMIBQ> ABPAB $KBPFP
E>PQ> ML@>IFMPFP BK PRP PBPBKQ> V PBFP @>MQRILP @LJL IF?OL
QFBKB PBPBKQ> V PBFP IF?OLP 6 I @LJBKW @LK I> @OB>@FK BK
$KBPFP V @LK@IRV BK BI *FIBKFL "PQB DO>K ELJ?OB I MOBAFGL
AB I> SBKFA> ABI "PMOFQR 0>KQL
 3>JLP >II > IBBOIL 1BKDL &P>>P  )B>JLP MLO RK
JLJBKQL V SB>JLP >NR IL NRB I AFGL >@BO@> AB I> SBKFA>
ABI "PMOFQR 0>KQL &P>>P BI @>MQRIL  @LJBK@BJLP ABI
SBOP@RIL 
$M @PTDK C@ )DGNU CD KNR DIQBHSNR RDQ ONQ BNQNM@ CD
FKNQH@
 I BPQ E>?I>KAL AB BPQB DO>K A> @R>KAL BI 1BPQFDL SBKAO>
t RI BP KRBPQO> @LOLK> \"I "PMOFQR 0>KQL KLP @LOLK>
ONQ BNQNM@ CD FKNQH@ X CH@CDL@ CD GDQLNRTQ@ @K
QDL@MDMSD CD RT OTDAKN
 "I QDL@MDMSD I> eDBKQB NRB NRBABq eI PBO RK> AF>ABJ>
RK> @LOLK> AB DILOF> \RK> AF>ABJ> AB EBOJLPRO>q -FBKPBK
\BPQL BP PBQB@FBKQLP >LP >KQBP AB NRB PR@BAFBO> BPL
ONQ DROQHST CD ITHBHN @K PTD DRS RDMS@CN DM
ITHBHN"PQL BP IL NRB I E>@B @LK KLPLQOLP BK BI >IQ>O 
ONQ ETDQY@R @ KNR PTD QDBG@BDM K@ A@S@KK@K@
OTDQS@ !GBJB SBO PTD QDBG@BDM K@ A@S@KK@ DM K@
OTDQS@
 NRBIILP NRB BPQK M>O>ALP MLO I V @LK I BPQB DO>K
"PMOFQR BI "PMOFQR 0>KQL NRB E> MOLCBQFW>AL PBO I> CLOQ>IBW>
AB >NRBI NRB PB M>O> BK I> MRBOQ> BK I> ?>Q>II> I BP KRBPQO>
CRBOW> +LPLQOLP @LKCF>JLP BK I KL BK I> @RIQRO> KL BK I>
BAR@>@FK KL BK I>P @LP>P ABI JRKAL e+L BP MLO CRBOW>P KL MLO
MLABOL PFKL MLO *F "PMOFQR AF@B 'BELSq \)> &DIBPF> ABP@>KP>
PLIBJKBJBKQB BK "PL eI PBO I> CLOQ>IBW> ABI NRB PB M>O> BK I>
MRBOQ>q +L PR QO>VB@QLOF> QBLIDF@> KL PR ABKLJFK>@FK PFKL
NRB BI "PMOFQR 0>KQL PBO PR CLOQ>IBW> I PBO >NRBI NRB PB E> AB
M>O>O BK I> MRBOQ> I ABMBKABO AB I> CRBOW> ABI "PMOFQR 0>KQL
M>O> OB@E>W>O >I BUQO>KGBOL
") 1"01&*,+&, !" 2+ 3 "/! !"/, 1"01&$, 

/DQN RSNR S@LAHM DQQ@QNM BNM DK UHMN >ELO>


BP@R@EBK X BNM ADAHC@R ETDQSDR R@KHDQNM CDK B@LHMN
RD R@KHDQNM gCDKs B@LHMN DK R@BDQCNSD X KNR OQNEDS@R
DQQ@QNM BNM ADAHC@R ETDQSDR ETDQNM SQ@RSNQM@CNR ONQ DK
UHMN RD R@KHDQNM CDK B@LHMN BNM ADAHC@R ETDQSDR DQQ@QNM
DM K@ UHRHM X SQNODY@QNM DM DK ITHBHN
 "K LQO>P M>I>?O>P BK UHRHM BIILP KF PFNRFBO> @OBBK BK Q>I
@LP> 6 BK ITHBHN AF@BK e\,E PFBJMOB V @R>KAL 2A PB RK> >
I> FDIBPF> BPQ ?FBKq 6 tNR QBKBJLP 2K JLKQK AB ?LOO>@ELP
,?PBOSBK IL NRB AFGL BI MOLCBQ> NR BPQ BI QBPQFDL AB !FLP
/NQPTD SNC@ LDR@ DRS KKDM@ AB PR@FBA>A CD ULHSN X
RTBHDC@C G@RS@ MN G@ADQ KTF@Q KHLOHN
 +L E>V IRD>O IFJMFL I>P JBP>P \,E BIILP BKQO>K >II
?LOO>@ELP V O>JBO>P VV QLJ>K RK MBA>@FQL AB M>K IBRA>AL V
IL @LOQ>K V E>@BK I> 0>KQ> BK> ALKAB BI IFJMFL V BI FKJRKAL
@LJBK GRKQLP \3JFQLP )>P JBP>P BPQK IIBK>P AB SJFQL
v PTHM RD DMRD@Q BHDMBH@ DM TM C@ @R N v@
PTHMG@Q DMSDMCDQ CNBSQHM@
 t.RFK AB BIILP MRAFBO> E>@BOIL @R>KAL QFBKBK PR MOLMF>
BUMBOFBK@F> QBLIDF@> V @LP>P BK NRB PB >MLV>K "IILP KL S>K > I>
->I>?O> AB !FLP !F@BK e\,E BPL BO> M>O> LQOL IRD>O BPL BP M>O>
LQO> DBKBO>@FKq 0RP JBP>P BPQK IIBK>P AB SJFQL "P@R@EBK >
BPQB MOLCBQ> @LK BPQ> FKQBIFDBK@F> PRMOBJ> AB !FLP E>?I>KAL MLO
JBAFL AB I
v KNR CDRSDS@CNR v@ KNR @QQ@MB@CNR CD KNR ODBGNR
\+L > ?B?P AB FDIBPF>
/NQPTD L@MC@LHDMSN SQ@R L@MC@LHDMSN
 I BPQ E>?I>KAL >ELO> AB I> ->I>?O> +L AFD> e->AOB %FGL
V "PMOFQR 0>KQLq @R>KAL "II> AF@B e\"I +LJ?OB AB 'BPPq
+L AFD> e"PQOB@E>O AB J>KLPq @R>KAL II AF@B e\+>@BO AB
KRBSLq
L@MC@LHDMSN SQ@R L@MC@LHDMSN L@MC@SN RNAQD
L@MC@SN X QDMFKM SQ@RQDMFKM SQ@R QDMFKM TM
ONPTHSN @KK NSQN ONPTHSN @KK
ONQPTD DM KDMFT@ CD S@QS@LTCNR X BNM NSQ@R KDMFT@R
G@AK@Q 8N @ DRSD OTDAKN \IBIRV>
 LK KDMFT@ CD S@QS@LTCNR eJROJRIILq 1>I SBW I>
@LKDOBD>@FK BPQ PBKQ>A> BK OBSBOBK@F> V NRFBQRA >IDRFBK
>IDRKL MLAO @>MQ>O BPB JROJRIIL V BKQBKABO IL NRB BPQK
AF@FBKAL e"K IBKDR> AB Q>OQ>JRALP V BK LQO>P IBKDR>P E>?I>O
6L > BPQB MRB?ILq MOLCBQFW>KAL ABI "PMOFQR 0>KQL e"K IBKDR>
AB Q>OQ>JRALP E>?I>O VL > BPQB MRB?ILq
@ KNR BT@KDR K CHIN $RSD DR DK QDONRN
 ELO> 2AP EBOJ>KLP >ASBKQFPQ>P NRB BP@LDBK BI PMQFJL A>
tNR IBP M>OB@B BPQL
 )  -)  / %  )  !

$RSD DR DK RA@CN $RSD DR DK QDONRN C@C QDONRN @K


B@MR@CN
 !FLP A>KLP ELJ?OBP S>IFBKQBP NRB PB M>OBK > I> MRBOQ> @LK
"PL \V NRB PB>K QBPQFDLP AB "IIL
$RSD DR DK QDONRN O@Q@ 4CR C@Q QDONRN @K
B@MR@CNDRSD DR DK QDEQHFDQHN ODQN MN PTHRHDQNM NHQ
 "P> BP I> M>OQB I>JBKQ>?IB BIILP KL )L NRFPFBOLK LO
*BKB>OLK I> @>?BW> V PB JLC>OLK V ?ROI>OLK V PFDRFBOLK PR
@>JFKL
 -BOL &P>>P MOLCBQFW V AFGL NRB ePR@BABO> NRB I BKSF>O>
0R "PMOFQR V "PQB PBO> RK> @LOLK> AB DILOF> M>O> I> &DIBPF> V
CLOQ>IBW> M>O> >NRBI NRB PB M>OB BK I> MRBOQ>q t JL P>?OBJLP
NRB BP BI "PMOFQR !FGL e-LONRB @LK IBKDR> Q>OQ>JRA> V LQO>P
IBKDR>P IB E>?I>O 6L > BPQB MRB?IL V BPQB BP BI OBMLPL V BI
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