UBC Theses and Dissertations

UBC Theses Logo

UBC Theses and Dissertations

Remodeling of the collecting duct with urinary tract obstruction Hiatt, Michael Joseph 2011

Your browser doesn't seem to have a PDF viewer, please download the PDF to view this item.

Notice for Google Chrome users:
If you are having trouble viewing or searching the PDF with Google Chrome, please download it here instead.

Item Metadata

Download

Media
24-ubc_ 2012_spring_hiatt_michael.pdf [ 77.47MB ]
Metadata
JSON: 24-1.0072470.json
JSON-LD: 24-1.0072470-ld.json
RDF/XML (Pretty): 24-1.0072470-rdf.xml
RDF/JSON: 24-1.0072470-rdf.json
Turtle: 24-1.0072470-turtle.txt
N-Triples: 24-1.0072470-rdf-ntriples.txt
Original Record: 24-1.0072470-source.json
Full Text
24-1.0072470-fulltext.txt
Citation
24-1.0072470.ris

Full Text

!  !"#$%"&'()*$+*,-"*.$&&".,'()*%/.,* 0',-*/!'(1!2*,!1.,*$34,!/.,'$(* * * !"# # #56789:*;<=9>7*-58??* # $%&'%(#&)*+,#-./01.#2,)31.0)4"(#5667# # # # # 8#9:;&<&#&2$=<99;>#<?#@8A9<8B#-2B-<BB=;?9#C-## 9:;#A;D2<A=;?9&#-CA#9:;#>;EA;;#C-# # %$.,$!*$+*@-'&$4$@-2* # ),# # ,79*+86A:?B*<C*)D8EA8?9*4?AE59=* # F;GH1.)*1,4/I#=1J)'),1K# # # # 9:;#2?<L;A&<9M#C-#$A<9<&:#NCB2=$<8# # FL/,'+O31.K# # >1'1*!1.#56PP# # # # # !#=)'Q/1I#R+01HQ#:)/44(#56PP#  !  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! M!:0$,"*%!*1!N7&9(0$!I!7&,!+00%!9-+3",702!-%20$!.'!9$0:"*-,!,-$%&.08!L-((P, 0%&1'2$,3,5"((8!M3")0!B!=&$&%(&38!R&%"03!B!T".0%0D8!R*-;3&,!S!K&(,0335!N*330)("%;! 2-)(!09"(703"&3F.0,0%)7'.&3!($&%,"("*%!"%!10(&3!-$"%&$'!($&)(!*+,($-)("*%5! `"2%0'!?%(8!JUUXW!XVZJ[8!aOYFa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b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! ! 6--%(%)*'$,!"#$%&'(%)*+,'*-,7)/8, ?%!&22"("*%!(*!(70!4*$<!9$0,0%(02!"%!(7",!(70,",8!?!7&:0!)*%($"+-(02!(*!&!%-.+0$!*1! *(70$!$030:&%(!9$*/0)(,!&%2!9-+3")&("*%,5! ! R&$$0%!T5!L$"2;04&(0$8!T&%",!K5!R"*%%08!0%&1'2$,39,5"((:!N7$",(*970$!E5!G"%8! R*-;3&,!S5!K&(,0335!=70!$*30!*1!(70!('90!?!"%,-3"%F3"<0!;$*4(7!1&)(*$! $0)09(*$!Z?SBF?A[!"%!;3*.0$-3&$!"%(0;$"('5!S$*4(7!_*$.*%0!c!?SB! A0,0&$)75!JUUdP!Vd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dP! JaIZb[8!BVJOdFId!ZI[5! ! B*33*4"%;!9-+3")&("*%!*1!.'!`"2%0'!?%(0$%&("*%&3!9&90$!ZJ[!20,)$"+"%;! .0,0%)7'.&3!($&%,"("*%!*1!)*330)("%;!2-)(!09"(703"&3!)033,!34253508!(7",!9&90$! )*%1"$.02!(7&(!)*330)("%;!2-)(F20$":02!.?KNRO!)033,!-%20$;*!.0,0%)7'.&3! ($&%,"("*%!34253/60!1*33*4"%;!($0&(.0%(!4"(7!(70!9$*1"+$*(")!1&)(*$8!=SB"FV5!?!93&%%02! &%2!90$1*$.02!(70!"%"("&3!=BS"FV!,(".-3&("*%,!&%2!&%&3',0,!"20%("1'"%;!09"(703"&3! )7&%;0,!1*33*4"%;!($0&(.0%(5!!R$5!?:&%*:&!0@9&%202!(70,0!&%&3',0,!&%2!1-$(70$! "%:0,(";&(02!(70!$*30!*1!,";%&3"%;!0:0%(,!(7&(!1*33*4!=SB"FV!($0&(.0%(5!?!&,,",(02!R$5! ?:&%*:&8!4"(7!(0)7%")&3!0@90$(",0!$0;&$2"%;!"..-%*7",(*)70.",($'8!&%2! .")$*,)*9'5! ! :"!  ! ! G0(0$!=$%<&8!0%&1'2$,3,4%'((:,E&$",,&!?:&%*:&8!M3")0!B!=&$&%(&38!R*-;3&,!S! K&(,0335!G70%*('9")!($&%,"("*%!*1!(70!)*330)("%;!2-)(!09"(703"-.!"%! )*%;0%"(&3!-$"%&$'!($&)(!*+,($-)("*%5!T!L"*.02!L"*(0)7%*35!JUVUP!YaYUOI8! 2*"PVU5VVbbeJUVUeYaYUOI!Zb[5!! ! =7",!9&90$!$093")&(0,!"%!(70!7-.&%!10(&3!<"2%0'!.&%'!*1!(70!1"%2"%;,!*1!)*330)("%;! 2-)(!"%/-$'!&%2!$0.*203"%;!20,)$"+02!9$0:"*-,3'!"%!(70!10(&3!%*%F7-.&%! 9$".&(0!ZJ[5!?!9&$(")"9&(02!"%!(70!93&%%"%;!*1!(70,0!0@90$".0%(,8!&%2!9$*:"202! ,-+,(&%("&3!(0)7%")&3!&,,",(&%)0!&%2!0@90$(",0!$03&("%;!(*!"..-%*7",(*)70.",($'8! .")$*,)*9'8!$0%&3!7",(*3*;'8!&%2!2&(&!&%&3',",5! ! E&$",,&!?:&%*:&8!0%&1'2$,3,4%'((:,K0$:"%!N!f*20$8!M3")0!B!=&$&%(&3!&%2!R*-;3&,! S!K&(,0335!6%(*;0%'!*1!NRJI!"%!(70!7-.&%!<"2%0'5!`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aYIFUaFVV5!789:;3//<=>?2  =7",!9&90$!"%:0,(";&(0,!+"*.&$<0$,!9$0,0%(!"%!(70!-$"%0!*1!)7"32$0%!4"(7!)*%;0%"(&3! -$"%&$'!($&)(!*+,($-)("*%!)&-,02!+'!9*,(0$"*$!-$0(7$&3!:&3:0,!&%2!,00<,!(*!&,,0,,! (70"$!2"&;%*,(")!&%2!9$*;%*,(")!:&3-05!?!9$*:"202!(0)7%")&3!&,,",(&%)0!"%!(70,0! ! :""!  ! 0@90$".0%(,8!&%2!)*%,-3(02!4"(7!R$,5!=$%<&!&%2!?:&%*:&!$0;&$2"%;!9*,,"+30! )*330)("%;F2-)(!20$":02!9$*(0"%,!(7&(!&$0!&3(0$02!+'!*+,($-)(":0!"%/-$'!&%2!(7&(!.&'! 7&:0!:&3-0!&,!9-(&(":0!+"*.&$<0$,5!! ! ;(1%&+,6<</)='$, =70!4*$<!20,)$"+02!"%!(7",!(70,",!4&,!90$1*$.02!"%!&))*$2&%)0!4"(7!(70! $0\-"$0.0%(,!*1!(70!#%":0$,"('!*1!L$"(",7!N*3-.+"&!&%2!4"(7!(70!90$.",,"*%!*1!(70! N3"%")&3!A0,0&$)7!](7"),!L*&$2!ZN7&9(0$!O8!N0$("1")&(0!g_UYFXUUUY[!&%2!(70!#LN! M%".&3!N&$0!N*.."((00!ZN7&9(0$!I8!N0$("1")&(0!gMUOFUJUUW!N7&9(0$!b!&%2!Y8!MUaF UJUUW!&%2!N7&9(0$!YP!MVUFUJJd[5!  !:"""!  !  ,13&"*$+*.$(,"(,4* ! 6#+(/'&(999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999%%! !/2>'&29999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999%=! ?'#$2,)>,.)*(2*(+ 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999%@! A%+(,)>,?'#$2+ 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 @%%! A%+(,)>,B%C"/2+999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 @%%%! A%+(,)>,6##/2=%'(%)*+ 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 @=%! 6&8*)D$2-CE2*(+ 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999@=%%%! F2-%&'(%)* 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999@%@! N_MG=]A!V,G*(/)-"&(%)*,(),(12,H%-*2I 9999999999999999999999999999999999999999999999999999999999999999999999999999J! J9J9! ;=)$"(%)*,)>,(12,H%-*2I 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 J! J9K9! L/)++,6*'()EI,)>,(12,H%-*2I+,'*-,M/%*'/I,?/'&( 99999999999999999999999999999999999999999999999999999 N! J9N9! 5'+%&,B"*&(%)*,'*-,O(/"&("/2,)>,H%-*2I999999999999999999999999999999999999999999999999999999999999999999999999 P! V5O5V5! B"3($&("*%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 d! V5O5J5! =-+-3&$!A0&+,*$9("*%!&%2!]@)$0("*%5555555555555555555555555555555555555555555555555555555555555555555555555555555555 VV! V5O5O5! =70!N*330)("%;!R-)(!&%2!E*40$!#$"%&$'!=$&)( 5555555555555555555555555555555555555555555555555555555555555555 Vb! J9Q9! F2=2$)<E2*(,)>,(12,H%-*2I 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999JR! V5I5V5! ]&$3'!G&((0$%"%;!*1!(70!`"2%0'55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VX! V5I5J5! ?%2-)("*%!*1!(70!K0(&%097$")!R0:03*9.0%( 55555555555555555555555555555555555555555555555555555555555555555555 Va! V5I5O5! L$&%)7"%;!K*$97*;0%0,", 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 JV! V5I5I5! Q097$*;0%0,", 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 Ja! V5I5b5! C($*.&3!R"110$0%("&("*% 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 OJ! J9P9! .)*&$"+%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999NN! N_MG=]A!J,G*(/)-"&(%)*,(),.1/)*%&,H%-*2I,F%+2'+2 999999999999999999999999999999999999999999999999 NP! K9J9! .$%*%&'$,5"/-2*,)>,.1/)*%&,H%-*2I,F%+2'+29999999999999999999999999999999999999999999999999999999999999999NP! J5V5V5! ?%)"20%)08!K*$(&3"('!&%2!K*$+"2"('!*1!]CAR 5555555555555555555555555555555555555555555555555555555555555555555 Ob! J5V5J5! N3&,,"1")&("*%!*1!N7$*%")!`"2%0'!R",0&,0555555555555555555555555555555555555555555555555555555555555555555555555555 OX! J5V5O5! ]CAR!&,!&!=7$0,7*32!R",0&,055555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 Oa! J5V5I5! N`R!"%!G02"&($")!G*9-3&("*%,55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 IJ! K9K9! M/%*'/I,?/'&(,S#+(/"&(%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999QQ! J5J5V5! N*%;0%"(&3!#$"%&$'!=$&)(!6+,($-)("*% 55555555555555555555555555555555555555555555555555555555555555555555555555555555 Ib! J5J5J5! ]@90$".0%(&3!K*203,!*1!#$"%&$'!=$&)(!6+,($-)("*%55555555555555555555555555555555555555555555555555555 Id! J5J5O5! G&(7*;0%0,",!*1!#$"%&$'!=$&)(!6+,($-)("*%P!R',93&,"&!H0$,-,!B"+$*,", 55555555555555 bJ! J5J5I5! K0)7&%",.,!*1!B"+$*,",5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 bI! J5J5b5! M!G&$&2";.!*1!?%/-$' 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 ba! K9N9! T2+2'/&1,S#U2&(%=2,'*-,4I<)(12+2+ 9999999999999999999999999999999999999999999999999999999999999999999999999999RK! N_MG=]A!O,S#+(/"&(%)*,'*-,(12,4"E'*,B2('$,H%-*2I 999999999999999999999999999999999999999999999 RN! N9J9! G*(/)-"&(%)*99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999RN! ! "@!  ! O5V5V5! R0:03*9.0%(!&%2!G7',"*3*;'!*1!(70!N*330)("%;!R-)( 555555555555555555555555555555555555555555555555555 YI! N9K9! T2+"$(+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999RV! O5J5V5! N7&$&)(0$"D&("*%!*1!?%(0$)&3&(02!N033, 55555555555555555555555555555555555555555555555555555555555555555555555555555555 YX! O5J5J5! =70!]&$3'!S0,(&("*%!B0(&3!`"2%0' 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 Ya! O5J5O5! =70!K"2!&%2!E&(0!S0,(&("*%!B0(&3!`"2%0' 5555555555555555555555555555555555555555555555555555555555555555555555555 Ya! O5J5I5! =70!G*,(%&(&3!`"2%0' 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 XI! O5J5b5! =70!N*%%0)("%;!=-+-30 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 XI! O5J5Y5! =70!6+,($-)(02!_-.&%!B0(&3!`"2%0',55555555555555555555555555555555555555555555555555555555555555555555555555555555 XX! N9N9! F%+&"++%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999WK! N9Q9! .)*&$"+%)*+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999WV!  N_MG=]A!I,S#+(/"&(%)*,'*-,.)$$2&(%*C,F"&(,T2E)-2$%*C 99999999999999999999999999999999999999 WW! Q9J9! G*(/)-"&(%)*99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999WW! Q9K9! T2+"$(+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999WX! I5J5V5! ?%2-)("*%!*1!B0(&3!6+,($-)(":0!Q097$*9&(7'5555555555555555555555555555555555555555555555555555555555555555555 da! I5J5J5! h-&%("(&(":0!N7&%;0,!"%!(70!6+,($-)(02!B0(&3!`"2%0'5555555555555555555555555555555555555555555555555 aU! I5J5O5! N7&$&)(0$"D&("*%!*1!(70!Q*$.&3!N*330)("%;!R-)(5555555555555555555555555555555555555555555555555555555555555 aU! I5J5I5! N*330)("%;!R-)(!B0&(-$0,!"%!B0(&3!#$"%&$'!=$&)(!6+,($-)("*% 55555555555555555555555555555555555 aO! I5J5b5! E*,,!*1!]9"(703"&3!&%2!S&"%!*1!K0,0%)7'.&3!N033!K&$<0$, 5555555555555555555555555555555555555555 aY! I5J5Y5! N033!G$*3"10$&("*%!R-$"%;!#$"%&$'!=$&)(!6+,($-)("*% 555555555555555555555555555555555555555555555555555 ad! I5J5X5! R0930("*%!*1!?%(0$)&3&(02!N033,!"%!6+,($-)(02!N*330)("%;!R-)(,5555555555555555555555555555555 ad! I5J5d5! N033!K";$&("*%!=7$*-;7!(70!N*330)("%;!R-)(!L&,0.0%(!K0.+$&%0 555555555555555555555VUU! Q9N9! F%+&"++%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JYK! Q9Q9! .)*&$"+%)*+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JYW! N_MG=]A!b,S#+(/"&(%)*,%*,(12,0)"+2,H%-*2I 99999999999999999999999999999999999999999999999999999999999JJJ! P9J9! G*(/)-"&(%)*99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JJJ! P9K9! T2+"$(+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JJK! b5J5V5! S0%0$&3!B0&(-$0,!*1!##6 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VVJ! b5J5J5! M9*9(*,",555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VVI! b5J5O5! ?%(0$,("("&3!A0,9*%,0 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VVa! b5J5I5! N*330)("%;!R-)(!]9"(703"&3!N7&%;0, 555555555555555555555555555555555555555555555555555555555555555555555555555555555555VJb! P9N9! F%+&"++%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JNJ! P9Q9! .)*&$"+%)*+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JNQ! N_MG=]A!Y,02&1'*%+E+,)>,G*U"/I,'*-,T2<'%/99999999999999999999999999999999999999999999999999999999999JNR! R9J9! G*(/)-"&(%)*99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JNR! Y5V5V5! =$&%,"0%(!A0)09(*$!G*(0%("&3!N7&%%03, 555555555555555555555555555555555555555555555555555555555555555555555555555VOX! Y5V5J5! =AGHI 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VOd! Y5V5O5! =AGHI!R01")"0%(!K")0 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VIV! R9K9! T2+"$(+ 999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JQK! Y5J5V5! =AGHI!]@9$0,,"*%!?%!H":*!&%2!?%!H"($* 555555555555555555555555555555555555555555555555555555555555555555555555555VIJ! Y5J5J5! N033-3&$!E*)&3"D&("*%!*1!=AGHI!?%!H":*!&%2!?%!H"($*555555555555555555555555555555555555555555555555555VIb! Y5J5O5! =AGHI!R-$"%;!#$"%&$'!=$&)(!6+,($-)("*% 5555555555555555555555555555555555555555555555555555555555555555555555VIX! Y5J5I5! M)(":&("*%!*1!=AGHI555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VIa! Y5J5b5! 6+,($-)("*%!"%!=AGHI!R01")"0%(!K")0 5555555555555555555555555555555555555555555555555555555555555555555555555555555VbO! R9N9! F%+&"++%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JPV! R9Q9! .)*&$"+%)* 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JRK! N_MG=]A!X,L2*2/'$,F%+&"++%)*,'*-,.)*&$"+%)*+ 99999999999999999999999999999999999999999999999999999JRN! V9J9! O"EE'/I99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JRN! V9K9! S#U2&(%=2,'*-,O&)<2,)>,?12+%+99999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JRQ! ! @!  ! V9N9! T2$2='*&2,)>,B%*-%*C+99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JRP! X5O5V5! A*30!*1!(70!N*330)("%;!R-)(!"%!6+,($-)("*%5555555555555555555555555555555555555555555555555555555555555555555555VYb! X5O5J5! K0)7&%",.,!*1!N*330)("%;!R-)(!?%/-$'!&%2!A0,9*%,0 555555555555555555555555555555555555555555555555VYa! V9Q9! O(/2*C(1+,'*-,A%E%('(%)*+999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JVN! V9P9! B"("/2,7)/8 9999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JVQ!  N_MG=]A!d,0'(2/%'$+,'*-,02(1)-+9999999999999999999999999999999999999999999999999999999999999999999999999999999JVV! W9J9! L2*2/'$,02(1)-+ 99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999 JVV! d5V5V5! G&$&11"%!].+022"%;!&%2!C0)("*%"%; 5555555555555555555555555555555555555555555555555555555555555555555555555555555555VXX! d5V5J5! B3-*$0,)0%(!?..-%*7",(*)70.",($'555555555555555555555555555555555555555555555555555555555555555555555555555555555VXX! d5V5O5! AQM!]@($&)("*%!&%2!A=FGNA 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VXd! d5V5I5! h-&%("(&(":0!GNA 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VXa! d5V5b5! ?..-%*+3*(("%; 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VXa! W9K9! .1'<(2/,NZ,4"E'*,B2('$,'*-,!)+(*'('$,H%-*2I,6*'$I+2+ 99999999999999999999999999999999999 JWJ! d5J5V5! C&.930!N*330)("*% 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdV! d5J5J5! N033!N*-%(, 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdJ! d5J5O5! M%("+*2"0,5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdJ! d5J5I5! C(&(",(")&3!M%&3',",555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdO! W9N9! .1'<(2/,QZ,[)*\4"E'*,!/%E'(2,H%-*2I,6*'$I+2+ 999999999999999999999999999999999999999999999999 JWN! d5O5V5! Q*%F_-.&%!G$".&(0!K*203!*1!B0(&3!#$"%&$'!=$&)(!6+,($-)("*%555555555555555555555555555VdO! d5O5J5! h-&%("1")&("*%!*1!?%(0$)&3&(02!N033!M+-%2&%)05555555555555555555555555555555555555555555555555555555555555VdI! d5O5O5! M%("+*2"0,5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdI! d5O5I5! C(&(",(")&3!M%&3',",555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdI! W9Q9! .1'<(2/,P,'*-,RZ,0"/%*2,MMS,0)-2$,6*'$I+2+ 999999999999999999999999999999999999999999999999999999 JWP! d5I5V5! M%".&3,!&%2!C-$;")&3!##6 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Vdb! d5I5J5! C&.930!N*330)("*% 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Vdb! d5I5O5! K*$97*.0($")!M%&3',",!*1!#CKM!M$0& 55555555555555555555555555555555555555555555555555555555555555555555555555555VdY! d5I5I5! M%&3',",!*1!M9*9(*,",!:"&!=#Q]E5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdY! d5I5b5! ?..-%*9$0)"9"(&("*%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdY! d5I5Y5! ?..-%*+3*(("%; 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdX! d5I5X5! G*3'.0$&,0!N7&"%!A0&)("*%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VdX! d5I5d5! ENK8!\-&%("(&(":0!GNA!&%2!=AGHI!S0%0!]@9$0,,"*% 5555555555555555555555555555555555555555555555555VdX! d5I5a5! M%("+*2"0,5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Vda! d5I5VU5! C(&(",(")&3!M%&3',",555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555Vda! W9P9! .1'<(2/,RZ!"#!$%&'(!.2$$,."$("/2,0)-2$,6*'$I+2+9999999999999999999999999999999999999999999999999999 JXY! d5b5V5! N033!E"%0!&%2!N-3(-$"%; 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VaU! d5b5J5! M;*%",(!&%2!M%(&;*%",(!C(".-3&("*%5555555555555555555555555555555555555555555555555555555555555555555555555555555555VaU! d5b5O5! N033!B$&)("*%&("*% 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VaV! d5b5I5! M%("+*2"0,5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VaJ! d5b5b5! C(&(",(")&3!M%&3',",555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VaJ! T2>2/2*&2+99999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999999JXN! !  ! @"!  !  &'4,*$+*,13&"4* =&+30!O5VP!M+-%2&%)0!*1!?%(0$)&3&(02!N033,!C-+('90,55555555555555555555555555555555555555555555555555555555555555XV! =&+30!O5JP!M+-%2&%)0!*1!?%(0$)&3&(02!N033!C-+('90,!R-$"%;!6+,($-)("*% 5555555555555555555555Xa! =&+30!d5VP!N-,(*.!R0,";%028!@ABABA2;9CA//AF,90)"1")!G$*+0!&%2!G$".0$!C0(,5 5555555 VdU! =&+30!d5JP!N-,(*.!R0,";%028!K*-,0F,90)"1")!=AG!G$".0$,555555555555555555555555555555555555555555555555 Vdd! !  ! @""!  !  &'4,*$+*+')/!"4* B";-$0!V5VP!=70!#$"%&$'!=$&)(555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 I! B";-$0!V5JP!=70!`"2%0' 5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 I! B";-$0!V5OP!=70!Q097$*% 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 X! B";-$0!V5IP!=70!S3*.0$-3-,5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 a! B";-$0!V5bP!=70!C3"(!R"&97$&;.5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555VU! B";-$0!V5YP!R0:03*9.0%(!*1!(70!]&$3'!Q097$")!C($-)(-$0,55555555555555555555555555555555555555555555555555555Vd! B";-$0!V5XP!Q097$*;0%0,",5555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555JJ! B";-$0!O5VP!N3&,,"1")&("*%!*1!?%(0$)&3&(02!N033,5555555555555555555555555555555555555555555555555555555555555555555555555555Yb! B";-$0!O5JP!?%(0$)&3&(02!N033,!"%!(70!]&$3'!_-.&%!B0(&3!`"2%0'5 5555555555555555555555555555555555555555Yd! B";-$0!O5OP!?%(0$)&3&(02!N033,!M+-%2&%)0!"%!(70!Q*$.&3!B0(&3!&%2!G*,(%&(&3!`"2%0'5 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XU! B";-$0!O5IP!?%(0$)&3&(02!N033,!"%!(70!K"2!(*!E&(0!S0,(&("*%!_-.&%!B0(&3!`"2%0'55555555XO! B";-$0!O5bP!?%(0$)&3&(02!N033,!"%!(70!G*,(%&(&3!_-.&%!`"2%0'5 5555555555555555555555555555555555555555555Xb! B";-$0!O5YP!=70!N*%%0)("%;!=-+-3055555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555XY! B";-$0!O5XP!?%(0$)&3&(02!N033,!"%!(70!]&$3'!6+,($-)(02!_-.&%!B0(&3!`"2%0'55555555555555555Xd! B";-$0!O5dP!?%(0$)&3&(02!N033,!"%!(70!E&(0!S0,(&("*%!6+,($-)(02!B0(&3!`"2%0'5 5555555555555dV! B";-$0!O5aP!?%(0$)&3&(02!N033,!"%!(70!G*,(%&(&3!6+,($-)(02!B0(&3!`"2%0'5555555555555555555555555dO! B";-$0!I5VP!?..-%*7",(*)70.")&3!B0&(-$0,!*1!B0(&3!#$"%&$'!=$&)(!6+,($-)("*%5 5555555aV! B";-$0!I5JP!.AQM!]@9$0,,"*%!"%!6+,($-)(02!B0(&3!`"2%0',55555555555555555555555555555555555555555555555555aJ! B";-$0!I5OP!Q*$.&3!B0(&3!K02-33&$'!N*330)("%;!R-)(5 555555555555555555555555555555555555555555555555555555555555555aI! B";-$0!I5IP!G0$"(-+-3&$!N*33&$!B*$.&("*%!"%!6+,($-)(02!B0(&3!N*330)("%;!R-)(5 55555555555ab! !@"""!  ! B";-$0!I5bP!E*,,!*1!]9"(703"&3!&%2!S&"%!*1!K0,0%)7'.&3!N7&$&)(0$",("),555555555555555555555555aX! B";-$0!I5YP!G$*3"10$&("*%!*1!(70!6+,($-)(02!N*330)("%;!R-)(!]9"(703"&3!N033,!&%2! C-$$*-%2"%;!?%(0$,("("-.55555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555aa! B";-$0!I5XP!R0930("*%!*1!?%(0$)&3&(02!N033,!"%!6+,($-)(02!B0(&3!N*330)("%;!R-)(,55555 VUV! B";-$0!I5dP!R",$-9("*%!*1!L&,0.0%(!K0.+$&%0!&%2!]:"20%)0!*1!N033-3&$!K";$&("*%!"%! 6+,($-)(02!B0(&3!N*330)("%;!R-)(,5 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VUO! B";-$0!I5aP!G&$&2";.!*1!G$*;0%"(*$!R"110$0%("&("*%!"%!A0,9*%,0!(*!B0(&3!#$"%&$'! =$&)(!6+,($-)("*%555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VUa! B";-$0!b5VP!S0%0$&3!B0&(-$0,!*1!##655555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VVO! B";-$0!b5JP!=-+-3&$!R"3&("*%!B*33*4"%;!##65 555555555555555555555555555555555555555555555555555555555555555555555555555 VVb! B";-$0!b5OP!M9*9(*,",!B*33*4"%;!##6555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VVX! B";-$0!b5IP!?%(0$,("("&3!#CKM!M))-.-3&("*%5 5555555555555555555555555555555555555555555555555555555555555555555555555555 VJU! B";-$0!b5bP!K&;%"(-20!*1!#CKM!M))-.-3&("*%5 55555555555555555555555555555555555555555555555555555555555555555555555 VJJ! B";-$0!b5YP!?%(0$,("("&3!N*33&;0%!?H!M))-.-3&("*%5 55555555555555555555555555555555555555555555555555555555555555555 VJI! B";-$0!b5XP!E*,,!*1!G$"%)"9&3!N033!MhGJ!]@9$0,,"*%555555555555555555555555555555555555555555555555555555555555555 VJY! B";-$0!b5dP!E*,,!*1!?%(0$)&3&(02!N033,5 555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VJX! B";-$0!b5aP!N7&%;0,!"%!?%(0$)&3&(02!N033!&%2!G$"%)"9&3!N033!G$*(0"%!]@9$0,,"*%5555555 VJd! B";-$0!b5VUP!R",$-9("*%!*1!]FN&2!E*)&3"D&("*%5555555555555555555555555555555555555555555555555555555555555555555555555 VOU! B";-$0!Y5VP!=AGHI!]@9$0,,"*%2!42D350!&%2!!42D3/605555555555555555555555555555555555555555555555555555555555555555 VII! B";-$0!Y5JP!=AGHI!N*F3*)&3"D&("*%!!42D350!&%2!!42D3/6055555555555555555555555555555555555555555555555555555555 VIY! B";-$0!Y5OP!=AGHI!R-$"%;!6+,($-)("*%5 55555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VId! B";-$0!Y5IP!=AGHI!M)(":&("*%!!42D3/60555555555555555555555555555555555555555555555555555555555555555555555555555555555555555555 VbV! B";-$0!Y5bP!Q-)30&$!=$&%,3*)&("*%!B*33*4"%;!=AGHI!M)(":&("*%5 555555555555555555555555555555555555 VbI! !@":!  ! B";-$0!Y5YP!6+,($-)("*%!"%!=$9:IFeF!K")05 55555555555555555555555555555555555555555555555555555555555555555555555555555555555 VbY! B";-$0!Y5XP!M9*9(*,",!"%!=$9:IFeF!K")0!B*33*4"%;!##65 5555555555555555555555555555555555555555555555555555555 Vbd!  ! @:!  !  &'4,*$+*133!"F'1,'$(4* !  #CKM!  !  "N&(!  !  MhGJ!  !  NM!??!  N&$+*%")!&%7'2$&,0!??!  !  N`R!  N7$*%")!<"2%0'!2",0&,0!  !  N*33!?H!  !  RMG?!  !  ]FN&2!  !  ]K=!  !  ]CAR!  !  BSB!  !  SRQB!  !  SBA!  !  `eR6h?!  !  .?KNRO!  !  KK!  K0(&%097$")!.0,0%)7'.0!  !  GNA!  G*3'.0$&,0!)7&"%!$0&)("*%!  !  AMC!  A0%"%FM%;"*(0%,"%!,',(0.!  !  A7NS!  !  AA!  !  =SB"!  #!C.**(7!.-,)30!&)("%! "!N&(0%"%!! M\-&9*$"%!J!  N*33&;0%!?H! Ii8!YF2"&."2"%*FJF970%'3"%2*30! ]FN&270$"%! ]9"(703"&3!.0,0%)7'.&3!($&%,"("*%! ]%2!,(&;0!$0%&3!2",0&,0! B"+$*+3&,(!;$*4(7!1&)(*$! S3"&3F20$":02!%0-$*($*9")!1&)(*$!! S3*.0$-3&$!1"3($&("*%!$&(0! `"2%0'!R",0&,0!6-()*.0,!h-&3"('!?%"("&(":0! K*-,0!"%%0$!.02-33&$'!)*330)("%;!2-)(!)033!3"%0!  A70,-,!+3**2!;$*-9!N!;3')*9$*(0"%!! A-(70%"-.!$02! =$&%,1*$."%;!;$*4(7!1&)(*$!"! !@:"!  ! !  =AG!  !  =AGH!  !  =#Q]E!!  =$&%,"0%(!$0)09(*$!9*(0%("&3! =$&%,"0%(!$0)09(*$!9*(0%("&3!:&%"33*"2!1&."3'! =0$."%&3!20*@'%-)30*("2'3!($&%,10$&,0F.02"&(02! 20*@'-$"2"%0($"97*,97&(0!%")<F0%2!3&+03"%;!  !  ##6!  !  :M=G&,0!  !  H?K!  #%"3&(0$&3!-$0(0$")!*+,($-)("*%! :&)-*3&$!_j!M=G&,0! H".0%("%!  ! #  @! :""!  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k5! #  @:"""! !  !  %"%'.1,'$(* 2  2  2 2 2 2  *062;E2C0534"2F3#<G22 2  2  A4=2/H<2#A;3CE2/HA/2HA.2.91106/<=2;<?2  2  !@"@!  N_MG=]A!V!  N:8@9;A#P '(,!$%/.,'$(*,$*,-"*G'%("2* HIHI  "J<:A?5<K*<C*?79*G5EK9BH* IH<2/69<2;<=39;2342FH3BH2F<2C35<23.24<3/H<62A3624062FA/<6G2:9/2/H<2:C00=G2/H<2 34/<64AC2;<=39;2/HA/2:A/H<.20962;9.BC<.G2"CA4=.2A4=2:6A34?2 2  JCA9=<2K<64A6=2(7)G21A6A1H6A.<=2:E2L?2M?28;3/H2Zd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k!  ! J!  N_MG=]A!V! NIH<2H9;A42O3=4<E2;A49#AB/96<.2/H<2O34=20#29634<2/HA/23/2=0<.G2A4=23/2 ;A34/A34.2/H<2:C00=2342/H<2B0;10.3/3042FH3BH2/HA/2#C93=2HA.G2:<BA9.<2/H3.2 O3=4<E2HA.2A2B<6/A342#94B/304AC2A6BH3/<B/96<P2A4=23/20F<.2/HA/2A6BH3/<B/96<240/2 /02=<.3"42062#06<.3"H/2062A4E21CA4G2:9/2/02/H<2#AB/2/HA/2/H<2<A6/H23.2A4294./A:C<2 .1H<6<2F3/H2A2#6A"3C<2B69./G2/02/H<2"<0C0"3B26<50C9/304.2/HA/2#062)QQ2;3CC3042 E<A6.2HA5<26A3.<=2A4=2C0F<6<=2B04/34<4/.2A4=2.<A.G2/02/H<216<=AB309.2<4<;3<.G2 A4=2H<A/2A4=2B0C=G2A4=2./06;.2A4=2=609"H/.G2/H<294<4=34"2.9BB<..30420#2 53B3..3/9=<.2/HA/2HA5<2=635<42/H<2;9/A4/25<6/<:6A/<.2#60;2/H<2.<A2/02#6<.HFA/<6G2 34/02=<.3BBA/<=2.FA;1.G209/291042/H<2=6E2CA4=G2#60;204<2HA:3/A/3042/02 A40/H<627(>?2 2  HILI  )D<==*1K8?<MB*<C*?79*G5EK9B=*8KE*/D5K8DB*,D86?*  =70!-$"%&$'!($&)(!",!)*.9$",02!*1!(70!<"2%0',8!(70!-$0(0$,8!+3&220$!&%2!-$0(7$&! ZB";-$0!V5V[5!=70!-$0(0$,!&%2!-$0(7$&!,0$:0!(*!($&%,9*$(!(70!-$"%0!9$*2-)02!+'!(70! <"2%0',!(*!&%2!1$*.!(70!+3&220$8!$0,90)(":03'8!470$0!"(!",!,(*$02!-%("3!"(!)&%!+0! &99$*9$"&(03'!03"."%&(02!1$*.!(70!+*2'5!=70!<"2%0',!&$0!3*)&(02!*%!0"(70$!,"20!*1! (70!:0$(0+$&3!)*3-.%!9*,(0$"*$!(*!(70!&+2*."%&3!)&:"('5!?%!&2-3(,8!*%!&:0$&;08!(70'! &$0!&99$*@".&(03'!VJ!)0%(".0(0$,!"%!30%;(78!X!l!)0%(".0(0$,!"%!4"2(78!&%2!O! )0%(".0(0$,!"%!(7")<%0,,!Za[5!=70!7"3-.!*%!(70!.02"&3!,"20!,0$:0,!&,!(70!0%($'!9*"%(! 1*$!(70!,"%;30!$0%&3!&$(0$'!ZB";-$0!V5J[5!=7",!/-%)("*%!",!&3,*!(70!0%($'!9*"%(!1*$!(70! 3'.97&("),!&%2!%0$:0,8!(70!0;$0,,!*1!(70!$0%&3!:0"%8!&%2!",!470$0!(70!-$0(0$,!0@"(8! *%0!90$!<"2%0'8!(*!203":0$!(70!-$"%0!;0%0$&(02!+'!(70!<"2%0'!(*!+3&220$5!=70!<"2%0',!  ! O!  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a8VU[5! !  HINI  38=56*+AK6?5<K*8KE*4?DA6?AD9*<C*G5EK9B*  M,!,-;;0,(02!9$0:"*-,3'8!(70!*:0$&33!1-%)("*%!*1!(70!<"2%0'!",!*%0!*1!7*.0*,(&,",5! >7"30!(70!<"2%0',!90$1*$.!.&%'!2":0$,0!1-%)("*%,8!"%)3-2"%;!&!)$-)"&3!$*30!&,! 0%2*)$"%0!*$;&%,!(7&(!$0;-3&(0!+3**2!9$0,,-$0!&%2!70.&(*9*"0,",8!(70'!7&:0!(4*! 9$"%)"9&3!$*30,5!=70!1"$,(!",!(*!$0;-3&(0!(70!+&3&%)0!*1!4&,(0,8!%-($"0%(,!&%2!."%0$&3,! "%!(70!+3**28!(70!,0)*%2!",!(*!)*%,0$:0!&%2!$0&+,*$+!4&(0$5!! ! ! b!  N_MG=]A!V! R-$"%;!0:*3-("*%!"%!(70!1$0,7!4&(0$!0%:"$*%.0%(8!(70!3&$;0!*,.*(")!;$&2"0%(!2$":"%;! 4&(0$!"%(*!(70!+*2'!9$*2-)02!<"2%0',!4"(7!&!7";7!$&(0!*1!1"3($&("*%!(*!03"."%&(0!(7",! 0@)0,,":0!+*2'!4&(0$!Zd[5!_*40:0$8!2-$"%;!&2&9(&("*%!(*!(70!4&(0$F9**$!(0$$0,($"&3! 0%:"$*%.0%(8!,-)7!&!7";7!1"3($&("*%!$&(0!4&,!)*%($&$'!(*!(70!&)\-"$02!%002!1*$!4&(0$! )*%,0$:&("*%5!]:*3-("*%!(70$01*$0!$0,-3(02!"%!(70!20:03*9.0%(!*1!7";73'!,90)"&3"D02! 4&(0$F$0&+,*$+"%;!,0;.0%(,!*1!(70!%097$*%5!M,!&!$0,-3(8!(70!<"2%0',!1"3(0$! &99$*@".&(03'!JUU!3"(0$,!*1!1"3($&(0!&%2!O!<"3*;$&.,!*1!,*2"-.!90$!2&'8!*%3'!(*! $0&+,*$+!&99$*@".&(03'!adm!*1!(7&(!:*3-.0!&%2!(70!.&/*$"('!*1!(70!0@)$0(02! ,*2"-.5!G&$&2*@")&33'8!(70$01*$08!+-(!&,!&!9$*2-)(!*1!"(,!0:*3-("*%&$'!9&(78!(70! .&..&3"&%!<"2%0'!)&%!+0!,00%!&,!;$*,,3'!"%011")"0%(5!! ! ?%!*$20$!(*!&))*.93",7!(70,0!)*%($&2")(*$'!(&,<,!*1!1"3($&("*%!&%2!$0&+,*$9("*%8!(70! <"2%0'!7&,!,0:0$&3!-%"\-0!&%2!2",("%)(!)*.9&$(.0%(,5!M99$*@".&(03'!dUm!*1!(70! <"2%0'!",!)*.9$",02!*1!09"(703"&!(7&(!.&<0!-9!(70!%-.0$*-,!2"110$0%(!(-+-3&$! ,0;.0%(,5!]&)7!(-+-3&$!,0;.0%(!",!1-%)("*%&33'!2",("%)(!&%2!*1(0%!)*%(&"%,!,0:0$&3! ,-+('90,!*1!09"(703"&3!)033,5!?%!(-$%8!0&)7!09"(703"&3!,-+('90!7&,!&!-%"\-0!,($-)(-$0! &%2!1-%)("*%5!! ! !=70!<"2%0'^,!+&,")!1-%)("*%&3!-%"(!",!(70!%097$*%!ZB";-$0!V5O[5!]&)7!<"2%0'!)*%(&"%,! &99$*@".&(03'!bUU8UUU!%097$*%,!Za[8!.&%'!*1!47")7!,9&%!+*(7!(70!)*$(")&3!&%2! .02-33&$'!$0;"*%,5!]&)7!%097$*%!)*%,",(,!*1!*%0!1"3(0$"%;!-%"(8!(70!;3*.0$-3-,8! )*%%0)(02!(*!&!,0$"0,!*1!,90)"&3"D02!(-+-3&$!)*.9&$(.0%(,5!=70!;3*.0$-3"!&$0!!  ! Y!  !"#$%&'()(  !"#$%&' ()6*' +,&' 7&8,%9.)' >.%& $%2."($& #0& -.%& +10#6& '3$67($14& 3$#-& ('& -.%& /#*$%,9& ;#4-"1-%& #0& '(")%*& +,& -.%& 84()%"3430?& 1$*& #0& -"1$02("-%*& -."(38.& 0%5%"14& 02%6#14#F%*& -3+341"& 0%8)%$-09& >.%0%& -3+34%0& 0%4%675%4,& "%1+0("+& $3-"#%$-0?& %4%6-"(4,-%0& 1$*& =1-%"& =.#4%& 0%6"%7$8& 3$=1$-%*& =10-%09& >.%& 3"#$%& '(")%*& +,& )34724%& $%2."($0& #0& -"1$02("-%*& -."(38.& -.%& 6(44%67$8& *36-& & #$-(& -.%& 61,46%0& 1$*& 3"%-%"& '("& %4#)#$17($& '"()&-.%&+(*,9&:%2"(*36%*&'"()&!"#$%%&&&'C.7D3,'*24%#0/(%3.#!2*3'-#4'  +(  N_MG=]A!V! ! $0,9*%,"+30!1*$!1"3($&("*%8!47"30!(70!(-+-30,!90$1*$.!(70!.&/*$"('!*1!(70!+&3&%)"%;! &%2!9$*)0,,"%;!*1!(70!1"3($&(0!(*!9$*2-)0!(70!-$"%0!(7&(!",!0@)$0(025!! !"#"!" $%&'()'%*+, ?%!(70!.&..&3"&%!<"2%0'8!+3**2!",!203":0$02!(*!(70!;3*.0$-3-,!+'!(70!&110$0%(! &$(0$"*308!47")7!+$&%)70,!*11!(70!3&$;0$!"%($&3*+-3&$!&$(0$"0,!Za[5!#9*%!0%(0$"%;!(70! ;3*.0$-3-,!&(!(70!:&,)-3&$!9*308!(70!&110$0%(!&$(0$"*30!,93"(,!"%(*!&!20%,0!+-%230!*1! )&9"33&$'!3**9,!,-99*$(02!+'!(70!.0,&%;"-.!ZB";-$0!V5I[5!#9*%!0@"("%;!(70! ;3*.0$-3-,8!+3**2!0%(0$,!(70!0110$0%(!&$(0$"*30!(7&(!,-993"0,!+3**2!(*!(70! 2*4%,($0&.!(-+-3&$!,0;.0%(,!*1!(70!%097$*%5! ! ?%!(70!;3*.0$-3&$!)&9"33&$'!+028!1"3($&("*%!*))-$,!(7$*-;7!(70!"%(0$&)("*%,!*1!(70! :&,)-3&$!0%2*(703"-.!4"(7!7";73'!,90)"&3"D02!:",)0$&3!09"(703"&3!)033,!)&3302! 9*2*)'(0,!Za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b!F!YU!%.!(7&(!3"0,!+0(400%!(70"$!1**(! 9$*)0,,0,8!&2/&)0%(!9*2*)'(0,!1*$.!(70!7";73'!,90)"&3"D02!/-%)("*%&3!,($-)(-$0!*1!(70! ,3"(!2"&97$&;.8!47")7!,0$:0,!&,!(70!1-%)("*%&3!,"(0!*1!1"3($&("*%!ZVJ[5!=70!,3"(! 2"&97$&;.!ZB";-$0!V5b[!$0,"2"%;!YU!%.!&+*:0!(70!+&,0.0%(!.0.+$&%08!",!1*$.02!*1!! ! d!  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!"#$%&'()(  !"#$%&'()?*'+,&'@<"2'A"/8,%/#=)'>.%&04#-&*#12."18)&6()2(0%0&-.%&)(4%6341"&0#%5%&('& -.%&84()%"341"&I4-"17($&+1""#%"9& &>.%&3$#'(")4,&0#F%*&2("%0&('&-.%&04#-&*#12."18)&1"%& '(")%*& +,& 02%6#14#F%*& M3$67($14& 6()24%<%0& +%-=%%$& -.%& '((-& 2"(6%00%0& ('& -.%& 1*M16%$-&2(*(6,-%09&&:%2"#$-%*&'"()&F0+*3(<,3=<G6C.2H<I0=3.9<J3)H<:KK@H<L$BL>8BLA'<  )-(  N_MG=]A!V! ,  &!)0%($&3!1"3&.0%(!&2/*"%02!(*!(70!1**(!9$*)0,,0,!+'!$0;-3&$3'!,9&)02!)$*,,F+$"2;0,5! =70!$0,-3("%;!1*$.&("*%!)$0&(0,!-%"1*$.3'!,"D02!&%2!,9&)02!9*$0,!*1!&99$*@".&(03'! I%.!+'!VI%.!ZVO[5!=7*-;7!(70!0@&)(!.*30)-3&$!,($-)(-$0!*1!(70!,3"(!2"&97$&;.! $0.&"%,!-%<%*4%8!,0:0$&3!9*2*)'(0F,90)"1")!9$*(0"%,!"%)3-2"%;!%097$"%!&%2! 9*2*)"%!7&:0!+00%!"20%("1"02!(7&(!&$0!"%(0;$&3!(*!1*$.&("*%!*1!(70!,3"(!2"&97$&;.! ZVI8Vb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aUF!VJU!.3!90$! ."%-(0!Za[5!6%)0!9&,(!(70!,3"(!2"&97$&;.8!(70!1"3($&(0!0%(0$,!(70!3-.0%!*1!L*4.&%^,! C9&)05!_*40:0$8!+0)&-,0!(70!.&/*$!)$"(0$"*%!*1!1"3($&("*%!",!,"D08!+*(7!4&,(0,!&%2! 0,,0%("&3!9$*(0"%,!&%2!.*30)-30,!&$0!1"3(0$025!>"(7*-(!2*4%,($0&.!(-+-3&$! $0&+,*$9("*%8!(70!3*,,!*1!:"(&3!."%0$&3,8!%-($"0%(,8!&%2!4&(0$!4*-32!9$0)3-20! ,-$:":&35! !"#"-" ./0/&)(,12)03*(4'%*+,)+5,678(2'%*+, 6%)0!"%!L*4.&%^,!C9&)08!(70!1"3($&(0!+0;"%,!"(,!/*-$%0'!(7$*-;7!(70!.&%'!(-+-3&$! ,0;.0%(,!*1!(70!%097$*%!ZB";-$0!V5O[!Za[5!]&)7!*1!(70,0!(-+-3&$!)*.9&$(.0%(,!7&,! ,90)"&3"D02!1-%)("*%,!(7&(!&$0!)$-)"&3!1*$!.&"%(&"%"%;!+3**2!&%2!+*2'!7*.0*,(&,",5! ! VV!  N_MG=]A!V! =70!)7"01!(-+-3&$!1-%)("*%,!"%)3-20P!,0)$0("*%!*1!-%1"3(0$02!4&,(0,!1$*.!(70!+3**2! ,($0&.8!(70!,030)(":0!$0&+,*$9("*%!*1!%-($"0%(,!&%2!."%0$&3,8!+3**2!&)"2n+&,0! +&3&%)08!&%2!(70!$0)*:0$'!*1!&3.*,(!adm!*1!(70!0@)$0(02!4&(0$5!L'!(70!(".0!(70! 1"3($&(0!0@"(,!(70!<"2%0'8!"(!4"33!7&:0!+00%!)*%)0%($&(02!+'!&!1&)(*$!*1!VUU!&%2!4"33! )*%(&"%8!-%20$!%*$.&3!)"$)-.,(&%)0,8!*%3'!4&,(0,!&%2!-%%00202!%-($"0%(,!&%2! 4&(0$!Zd[5! ! =*!1&)"3"(&(0!(-+-3&$!$0&+,*$9("*%8!0&)7!%097$*%!,0;.0%(!",!"%(".&(03'!&,,*)"&(02! 4"(7!+$&%)70,!*1!(70!0110$0%(!&$(0$"*30!Za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a8VU[5!=70!9$*@".&3! )*%:*3-(02!(-+-30!3"0,!0%("$03'!4"(7"%!(70!)*$(0@!*1!(70!<"2%0'!&%2!,0$:0,!&,!&%! ! VJ!  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m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a8VU[5!=7"%!3".+! ,0;.0%(,!2",93&'!&!13&((0%028!&3.*,(!,\-&.*-,!.*$97*3*;'8!47"30!(70!,0;.0%(,!*1! (70!(7")<!3".+,!0@7"+"(!&!.*$0!)7&$&)(0$",(")8!)-+*"2&3!*$!)*3-.%&$!,7&905! B-%)("*%&33'8!(70!(*%")"('!*1!(70!-$"%0!"%!$03&("*%!(*!(70!93&,.&!&33*4,!4&(0$!(*!9&,,! 1$003'!(7$*-;7!(70!4&(0$!90$.0&+30!(7"%!20,)0%2"%;!3".+!*1!(70!3**95!=7",!9$*)0,,!",! ! VO!  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j[!*$! $0&+,*$9("*%!*1!+")&$+*%&(05!  ! VI!  N_MG=]A!V! !"#"#" .92,:*&&28'%+;,</8',)+5,=*>2(,?(%+)(@,.()8', >7"30!(70!2",(&3!)*%:*3-(02!(-+-30!",!(70!3&,(!,0;.0%(!*1!(70!%097$*%!9$*90$8!"(!",! %*(!(70!1"%&3!,0;.0%(!0%)*-%(0$02!+'!(70!1"3($&(0!Za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a[5!?%!(70!)&,0!*1! 4&(0$!$0&+,*$9("*%8!abm!7&,!+00%!$0&+,*$+02!1$*.!(70!1"3($&(0!9$"*$!(*!0%($'!"%(*! (70!)*330)("%;!2-)(!,',(0.5!_*40:0$8!2090%2"%;!*%!(70!7'2$&("*%!30:03!*1!(70!+*2'8! &%2!-%20$!(70!)*%($*3!*1!(70!4&(0$F$0;-3&("%;!7*$.*%0!:&,*9$0,,"%8!9$"%)"9&3!)033,! &$0!&3,*!$0,9*%,"+30!1*$!-9!(*!bm!*1!(70!(*(&3!4&(0$!$0)*:0$'!*1!(70!<"2%0'5!=7",!",! &)7"0:02!"%!)*%/-%)("*%!4"(7!(70!7";7!"%(0$,("("&3!*,.*(")!)*%)0%($&("*%!9$*2-)02! +'!(70!3**9!*1!_0%305!=70!0@9$0,,"*%!*1!:&,*9$0,,"%!9$*.*(0,!(70!&9")&3!3*)&3"D&("*%! ! Vb!  N_MG=]A!V! *1!(70!4&(0$!)7&%%03!&\-&9*$"%!J!ZMh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N_MG=]A!V! 9$*%097$*,8!.0,*%097$*,!&%2!.0(&%097$*,!ZB";-$0!V5Y[!ZVX[5!?%!.&..&3,8!(70!1"$,(! (4*!*1!(70,0!)*%,("(-(0!:0,(";"&3!*$!(0.9*$&$'!<"2%0'F3"<0!,($-)(-$0,!(7&(!&$0!3*,(!*$! $020:03*902!2-$"%;!(70!.&(-$&("*%!*1!(70!.0(&%097$*,!47")7!20$":0!(70!.&(-$0! &%2!1-%)("*%"%;!<"2%0'5!! !"A"!" 6)(&@,B)''2(+%+;,*C,'92,D%5+2@, ?%!(70!20:03*9"%;!.&..&3"&%!0.+$'*8!&33!$0%&3!,($-)(-$0,!20$":0!1$*.!(70! "%(0$.02"&(0!.0,*20$.!3*)&(02!+0(400%!(70!&@"&3e,*.&(")!.0,*20$.!&%2!(70! 3&(0$&3!93&(0!.0,*20$.!ZVd[5!M,!4"(7!&33!20:03*9.0%(&3!9$*)0,,0,!"%!(70!10(-,8!(70! $0;"*%&3!,90)"1")&("*%!*1!(70!"%(0$.02"&(0!.0,*20$.!&%2!(70!$0%&3!(",,-0,!(7&(! 20$":0!1$*.!"(8!2090%2!70&:"3'!*%!(70%!0@9$0,,"*%!*1!;0%0,!(7&(!201"%0!(70!&@"&3! 9&((0$%"%;!*1!(70!10(-,5!?%!9&$(")-3&$8!(70!201"%"("*%!*1!(70!&%(0$"*$F9*,(0$"*$!&@",!+'! (70!_*@!1&."3'!;0%0,!",!)$-)"&3!1*$!(70!)*$$0)(!3*)&3"D&("*%!&%2!*$"0%(&("*%!*1!$0%&3! ,($-)(-$0,5!=70!1*$.&("*%!*1!(70!"%(0$.02"&(0!.0,*20$.!",!201"%02!+'!(70! 0@9$0,,"*%!*1!_6oLI5!=70!,-+,0\-0%(!0@9$0,,"*%!*1!GMoJ!&%2!GMod8!(4*!;0%0,! )$-)"&3!1*$!(70!,90)"1")&("*%!*1!$0%&3!(",,-0,8!)3*,03'!1*33*4,!(7&(!*1!_6oLI!ZVX[5! GMoJ!"%!9&$(")-3&$!93&',!&!<0'!20:03*9.0%(&3!$*30!"%!(70!.*$97*;0%0,",!*1!(70!1"%&38! 90$.&%0%(!<"2%0'!ZVaFJV[5!! ! =70!1"$,(!,(09!"%!(70!*$;&%*;0%0,",!*1!(70!<"2%0'!",!(70!1*$.&("*%!*1!(70!9$*%097$")! 2-)(!(7&(!&$",0,!1$*.!(70!"%(0$.02"&(0!.0,*20$.!&,!&!,"%;30F3&'0$02!09"(703"&3!(-+0! ZVX8Vd[5!B*$.&("*%!*1!(70!9$*%097$")!2-)(!+0;"%,!&(!0.+$'*%")!2&'!JJ!"%!(70!7-.&%! 10(-,!Z2&'!d!"%!(70!.*-,0[!&%2!0@(0%2,!)&-2&33'!(*4&$2,!(70!.*,(!9*,(0$"*$!9*$("*%! *1!(70!)3*&)&!*$!7"%2;-(5!=-+-30,!0@(0%2!.02"*:0%($&33'!1$*.!(70!&%(0$"*$!9*$("*%!*1!! ! VX!  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d8JJ[5!=70!KK!&3,*!20$":0,!1$*.!(70!"%(0$.02"&(0!.0,0%)7'.0!&%2! 1*$.,!&2/&)0%(!(*!(70!>*311"&%!2-)(5!E*)&3"D&("*%!*1!(70!KK8!&%2!(70$01*$0!*1!(70! .&(-$0!<"2%0'8!&3*%;!(70!&%(0$"*$F9*,(0$"*$!&@",!",!)*%($*3302!+'!(70!0@9$0,,"*%!*1! _6oVV5!6%)0!1*$.028!(70!KK!",!20:03*9.0%(&33'!$0,($")(02!(*!2"110$0%("&("*%!"%(*! $0%&3!(",,-0,!ZVd[5!M(!&99$*@".&(03'!b!400<,!;0,(&("*%!"%!(70!7-.&%!10(-,!Z2&'!VU5b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a!  N_MG=]A!V! 2"110$0%("&("*%!*1!+*(7!(70!.0,0%)7'.&3!&%2!09"(703"&3!)*.9*%0%(,!*1!(70! 20:03*9"%;!<"2%0'!ZVX8Vd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eA]=!,";%&3"%;!ZVX[5! =70,0!.0)7&%",.,!,0$:0!(*!"%7"+"(!0)(*9")!+-2!1*$.&("*%!&%2!0%,-$0!&99$*9$"&(0! 9*,"("*%"%;!*1!(70!-$0(0$")!+-25!Q*%FKK!.0,0%)7'.&3!)033,!,-$$*-%2"%;!(70! %097$")!2-)(!0@9$0,,!+*%0!.*$97*;0%")!9$*(0"%!I8!47")7!"%7"+"(,!SRQBeA]=! ,";%&3"%;!&%2!(70$01*$0!-$0(0$")!+-2!+-22"%;5!?%!(70!9*,(0$"*$!$0;"*%!*1!(70!KK8!(70! ($&%,)$"9("*%!1&)(*$!B6o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b8JY[5!R",$-9("*%!*1!(70,0!,";%&3"%;! ! JU!  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d8JJ8JXFJa[5!L$&%)7"%;!&%2!%097$*;0%0,",!*))-$!4"(7"%!&! %097$*;0%")!D*%0!(7&(!9$*;$0,,0,!)0%($"1-;&33'8!30&:"%;!(70!*320,(!%097$*%,!&%2! -$0(0$")!+-2!,0;.0%(,!"%!(70!"%%0$.*,(!9*$("*%,!*1!(70!<"2%0'5!=7$*-;7*-(!(7",! 9$*)0,,8!(70!-$0(0$")!+-2!("9,!$0(&"%!(70!"%2-)(":0!9*(0%("&3!)7&$&)(0$",(")!*1!(70! 0&$3'!-$0(0$")!+-28!47"30!(70!-$0(0$")!+-2!,(&3<,!301(!+07"%2!"%!(70!4&:0!*1!+$&%)7"%;! &%2!%097$*;0%0,",!+0;"%!(*!2"110$0%("&(0!"%(*!.&(-$0!09"(703"&5! !  ! JV!  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N_MG=]A!V! ! =7$*-;7!"(,!)&9&)"('!(*!"%2-)0!%097$*%!1*$.&("*%!&%2!)*%,("(-(0!(70!1"%&3!)*330)("%;! 2-)(!,',(0.8!&99$*9$"&(0!+$&%)7"%;!",!1-%2&.0%(&3!"%!0,(&+3",7"%;!(70!&$)7"(0)(-$0! &%2!20(0$."%"%;!(70!1"%&3!%097$*%!%-.+0$!*1!(70!<"2%0'5! ! >7"30!(70!-$0(0$")!+-2!",!)&9&+30!*1!+$&%)7"%;!"%!&!%-.+0$!*1!-%"\-0!4&',8!(70! .0)7&%",.!*1!+$&%)7"%;!",!3&$;03'!)*%,0$:025!B*33*4"%;!03*%;&("*%8!(70!"%2":"2-&3! ("9,!*1!(70!-$0(0$")!+-2!,4033!(*!1*$.!7*33*4!&%2!$*-%202!&.9-33&0!ZVX8Vd[5!=70,0! ,($-)(-$0,!&$0!(70%!$0.*20302!"%(*!(70!%0)0,,&$'!+$&%)702!,($-)(-$0,5!M.&D"%;3'8! (7",!$0.*203"%;!2*0,!%*(!*))-$!+'!203&."%&("*%!*$!.";$&("*%!*1!)033,!1$*.!(70! &.9-33&^,!09"(703"&3!,700(!ZJd[5!?%,(0&28!$0.*203"%;!*))-$,!,".93'!+'!(70!2"110$0%("&3! ;$*4(78!20&(78!&%2!&3(0$&("*%,!"%!)033-3&$!.*$97*3*;'5!=70!"%"("&3!1*$.&("*%!*1!(70! %&,)0%(!+$&%)70,!&990&$,!(*!+0!2$":0%!+'!3*)&3"D02!9$*3"10$&("*%!&(!*99*,"%;!0%2,!*1! (70!&.9-33&!&%2!1&)"3"(&(02!+'!(70!&)\-","("*%!*1!&!402;0F,7&902!.*$97*3*;'!(*! 9$*.*(0!1*32"%;!*1!(70!09"(703"&3!3&'0$5!M%*(70$!9$*9*,02!.0)7&%",.!$03"0,!*%!(70! p9-$,0F,($"%;q!.*203!*1!09"(703"&3!1*32"%;!ZOU[!470$0+'!(70!3*)&3"D02!)*%($&)("*%!*1! &9")&3!&)("%!1"3&.0%(,!"%!,0:0$&3!)033,!9$*.*(0,!(70!0:&;"%&("*%!*1!(70!09"(703"&3! 3&'0$5!M9*9(*,",!",!&3,*!(7*-;7(!(*!)*%($"+-(0!(*!(70!1*$.&("*%!*1!(70!2":"2"%;!)301(! (7&(!,09&$&(0,!(70!%&,)0%(!+$&%)70,!ZJd[5!R0,9"(0!(70!3&)<!*1!&!)*.930(0! -%20$,(&%2"%;!*1!(70!0@&)(!.0)7&%",.,!*1!+$&%)7!1*$.&("*%8!"(!",!)30&$!(7&(!)033-3&$! 2'%&."),8!&%2!%*(!.";$&("*%8!93&'!&!<0'!$*305! ! =7*-;7!;0%0$&33'!20,)$"+02!&,!2")7*(*.*-,8!(70!-$0(0$")!+-2!",!)&9&+30!*1!.&%'! +$&%)7"%;!9&((0$%,!"%)3-2"%;!(0$."%&3!+"1"28!(0$."%&3!($"1"28!&%2!3&(0$&3!+$&%)7"%;! ! JO!  N_MG=]A!V! ZJd8Ja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d8Ja[5! ! ?%!(70!20:03*9"%;!7-.&%!<"2%0'8!(70!-$0(0$")!+-2!-%20$;*0,!&99$*@".&(03'!Vb! $&9"2!+$&%)7"%;!0:0%(,!Z&99$*@".&(03'!d!0:0%(,!"%!.*-,0[!ZJa[5!=70!1"$,(!,(&;0!*1! +$&%)7"%;!+0;"%,!4"(7!(70!"%2-)("*%!*1!(70!-$0(0$")!+-2!&,!&!3&(0$&3!+$&%)7!*1!(70! >*311"&%!2-)(!&(!&99$*@".&(03'!b!400<,!;0,(&("*%!"%!7-.&%!Z0.+$'*%")!2&'!VU5b!"%! .*-,0[8!&,!9$0:"*-,3'!2",)-,,02!ZJd[5!C**%!&1(0$!"(,!"%:&,"*%!*1!(70!&2/&)0%(!KK! Z0.+$'*%")!2&'!VV5b!"%!.*-,0[8!(70!-$0(0$")!+-2!-%20$;*0,!"(,!1"$,(!+"1-$)&("*%! 1*$."%;!&!-%"\-0!=F/-%)("*%5!=7",!1"$,(!+$&%)7"%;!,0(,!(70!,(&;0!1*$!(70!0&$3'! +$&%)7"%;!0:0%(,8!47")7!*))-$!3&$;03'!+'!($"1"2!+$&%)7"%;5!=70!1"$,(!b!*$!,*!*1!(70,0! +$&%)70,!9$*2-)0!(70!$0%&3!903:",!&%2!)&3')0&3!,($-)(-$0,!ZJa[5!?%!7-.&%,8!(70!%0@(! ! JI!  N_MG=]A!V! b!+$&%)7"%;!0:0%(,!*))-$!9$02*."%&%(3'!+'!(0$."%&3!+"1-$)&("*%!&%2!)*.9$",0!(70! )*330)("%;!2-)(,!*1!(70!9&9"33&!&%2!.02-33&5!_*4!(70!9&9"33&!1*$.,!"(,!1"%&3!"%:0$(028! 9'$&."2&3!,($-)(-$0!"%!(70!)&3')0&3!,9&)0!",!-%<%*4%5!_*40:0$8!"(!&990&$,!3"<03'! (7&(!"(,!1*$.&("*%!.-,(!$0,-3(!1$*.!(70!;$&2-&3!+$*&20%"%;!*1!)&3')0,!1*33*402!+'! (70!)*33&9,0!*$!"%:0$,"*%!*1!(70!0&$3'8!9*,(F)&3')0&3!+$&%)70,!*1!(70!-$0(0$")!+-25!=70! 7-.&%!<"2%0'!7*-,0,!&%!&:0$&;0!*1!d!9&9"33&08!4"(7!&99$*@".&(03'!II!)*330)("%;! 2-)(!2-)(,!0@"("%;!(70!("9!*1!0&)7!*%0!ZJa[5!=7",!4*-32!0\-&(0!(*!&!(*(&3!*1!ObJ!2-)(,! *$!+0(400%!d!*$!a!+$&%)7"%;!0:0%(,!ZJd!r!JbY!+$&%)70,8!Ja!r!bVJ!+$&%)70,[5! ! ?%!(70!7-.&%!10(&3!<"2%0'8!(70!,-+,0\-0%(!Vb!+$&%)7"%;!0:0%(,!&3,*!*))-$!+'! (0$."%&3!+"1-$)&("*%8!&%2!9$*2-)0!(70!$0.&"%"%;!,0;.0%(,!*1!(70!.02-33&!&%2!"%%0$! )*$(0@!ZJa[5!M(!(7",!,(&;08!+$&%)7"%;!)*"%)"20,!4"(7!%097$*%!"%2-)("*%8!2",)-,,02! +03*45!R-$"%;!(70!VOFVb(7!+$&%)7"%;!0:0%(,8!(70!-$0(0$")!+-2!("9,!"%2-)0!.-3("930! %097$*%,!,".-3(&%0*-,3'!(7&(!)*%%0)(!(*!(70!.&(-$0!)*330)("%;!2-)(!:"&!,7&$02! )*%%0)("%;!(-+-30!&$)&20,!"%!(70!2009!)*$(0@5!B*33*4"%;!(70!Vb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b!  N_MG=]A!V! )0&,0,!&%2!(70!1"%&3!.&(-$&("*%!*1!(70!%043'!1*$.02!,($-)(-$0,!)*%)3-20,5! M99$*@".&(03'!(4*F(7"$2,!*1!%097$*%,!&$0!1*$.02!2-$"%;!(70!3&,(!($".0,(0$!ZOVFOO[5! ! ?%!(70!10(&3!.*-,0!<"2%0'8!d!+$&%)7"%;!0:0%(,!*))-$!+0(400%!0.+$'*%")!2&'!VV5b! &%2!Vb5b8!1*$."%;!(70!+$&)70,!(7&(!4"33!)*.9$",0!(70!)*330)("%;!2-)(,!*1!(70!"%%0$! &%2!*-(0$!.02-33&!ZJd[5!B$*.!0.+$'*%")!2&'!Vb5b!-%("3!+"$(78!*%3'!J!(*!O!)*$(")&3! +$&%)7"%;!0:0%(,!*))-$8!4"(7!(70!$0.&"%20$!*1!)*$(")&3!+$&%)7"%;!&%2!%097$*;0%0,",! *))-$$"%;!"%!(70!1"$,(!(4*!400<,!9*,(%&(&35! ! =70!)7&$&)(0$",(")!,($-)(-$0!*1!(70!1"%&3!)*330)("%;!2-)(!,',(0.!",!%*(!20(0$."%02!+'! +$&%)7"%;!&3*%05!R-$"%;!+$&%)7"%;!.*$97*;0%0,",8!90$"*2,!*1!"%)$0&,02! 9$*3"10$&("*%!&%2!$0,($")(02!+$&%)7"%;!&$0!$0,9*%,"+30!1*$!(70!03*%;&("*%!*1!(70! -$0(0$")!+-2!("9!&%2!(70!,9&)"%;!*1!+$&%)7"%;!0:0%(,!ZJd8Ja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b(7! +$&%)7"%;!0:0%(,!03*%;&(0!2$&.&(")&33'!+'!)*%:0$;0%(!0@(0%,"*%!9$*2-)"%;!(70!3*%;8! ! JY!  N_MG=]A!V! ,($&";7(!,0;.0%(,!*1!(70!*-(0$!.02-33&$'!)*330)("%;!2-)(5!?%!(70!.*-,08!(70!Y(7F!d(7! +$&%)7"%;!0:0%(,!-%20$;*!,"."3&$!03*%;&("*%!1*33*4"%;!0.+$'*%")!2&'!Vb5b!ZJd[5! G*,(%&(&33'8!/-@(&.02-33&$'!&%2!)*$(")&3!,0;.0%(,!0@7"+"(!,"."3&$!7";7!$&(0,!*1! 03*%;&("*%8!&))*-%("%;!1*$!.-)7!*1!(70!9*,(%&(&3!;$*4(7!*1!(70!<"2%0'5! ! K&%'!*1!(70!1&)(*$,!(7&(!)*%($*3!(70!"%"("&3!+-22"%;!*1!(70!-$0(0$")!+-2!)*%("%-0!(*! ,0$:0!&!,"."3&$!$*30!"%!)*%($*33"%;!+$&%)7"%;!.*$97*;0%0,",5!?%!9&$(")-3&$8!(70! SRQBeA]=!9&(74&'!&)(,!&,!&!90$.",,":0!,";%&3!)*%($*33"%;!$0"(0$&(":0!)')30,!*1! 03*%;&("*%!&%2!+$&%)7"%;!*1!(70!-$0(0$")!+-25!=7",!,";%&3!",!90$.",,":08!$&(70$!(7&%! "%,($-)(":08!"%!(7&(!"(!p;$00%F3";7(,q!(70!9$020(0$."%02!20:03*9.0%(&3!$0,9*%,0!+-(! 2*0,!%*(!;-"20!(70!*-()*.0ZVd[5!N033,!&(!(70!-$0(0$")!+-2!("9!-%20$!(70!)*%($*3!*1! A]=!&)(":"('!9$*:"20!.*,(!*1!(70!9$*3"10$&("*%!(7&(!2$":0,!-$0(0$")!+-2!03*%;&("*%! &%2!,0$:0!&,!(70!2$":"%;!1*$)0!+07"%2!+$&%)7"%;!.*$97*;0%0,",!ZOI8Ob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`%*)<*-(!,(-2"0,!"%!.")0!7&:0!,7*4%!(7&(!201")"0%)"0,!"%!1"+$*+3&,(!;$*4(7!1&)(*$! ZBSB[!,";%&3"%;!:"&!BSBF$0)09(*$!J!ZOX[8!BSBX!ZOd[!&%2!BSBVU!ZOa[!$02-)0!09"(703"&3! ! JX!  N_MG=]A!V! +$&%)7"%;5!=70!709&(*)'(0!;$*4(7!1&)(*$!&%2!09"20$.&3!;$*4(7!1&)(*$!9&(74&',! 7&:0!+00%!,7*4%!(*!"%(0$&)(!,'%0$;",(")&33'!(*!"%13-0%)0!+$&%)7"%;! .*$97*;0%0,",!ZIU[5! ! >7"30!SRQBeA]=!,";%&3"%;!,0$:0,!&,!(70!9$02*."%&%(!90$.",,":0!,";%&3!*1! +$&%)7"%;8!&99$*9$"&(0!+$&%)7"%;!$0\-"$0,!)3*,0!,9&("&3!&%2!(0.9*$&3!)*%($*3!*:0$! (70!97&,0,!*1!03*%;&("*%!&%2!+$&%)7"%;5!!C0:0$&3!1&)(*$,!7&:0!+00%!"20%("1"02!47")7! 3"."(!*$!$0,($")(!(70!0110)(!*1!SRQB!,";%&3"%;5!C9$*-('!V!&;&"%!93&',!&!<0'!$*30!"%! "%7"+"("%;!"%&99$*9$"&(0!+$&%)7"%;!+'!3"."("%;!A]=!0@9$0,,"*%!&%2!*99*,"%;! "%&99$*9$"&(0!SRQB!,";%&3"%;!ZJb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d!  N_MG=]A!V! ZOd8IJFIb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d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a!  N_MG=]A!V! =70!2"110$0%("&("*%!*1!(70!,".930!$0%&3!:0,")30!(*!(70!)*.930@!,($-)(-$0!*1!(70!1"%&3! %097$*%!9$*)002,!(7$*-;7!(4*!$0)*;%"D&+30!"%(0$.02"&(0,5!=70!1"$,(!"%(0$.02"&(08! (70!)*..&F,7&902!+*2'8!",!)$0&(02!+'!(70!1*$.&("*%!*1!&!)301(!+'!"%:&;"%&("*%!*1!(70! 09"(703"-.!%0&$0,(!(70!-$0(0$")!+-2!ZVX8Vd[5!=7",!1*$.,!(70!)*..&F,7&902!+*2'8! 4"(7!(70!2",(&3!(&"3!*1!(70!:0,")30!1-,"%;!4"(7!(70!-$0(0$")!+-2!(*!1*$.!&!)*%(";-*-,! 3-.0%5!=70!1*$.&("*%!*1!(70!,0)*%2!"%(0$.02"&(08!(70!CF,7&902!+*2'8!*))-$,! 1*33*4"%;!(70!1*$.&("*%!*1!&!,0)*%28!9$*@".&3!)301(5!=70!"%:&,"*%!*1!BE`VF9*,"(":0! &%;"*+3&,(,!"%(*!(7",!)301(!9$*:"20,!(70!9$0)-$,*$,!1*$!(70!:&,)-3&$!+-%230,! )*.9$","%;!(70!1-(-$0!;3*.0$-3&$!)&9"33&$'!%0(4*$<5!K0&%47"308!"%:&2"%;!.0,&%;"&3! 9$0)-$,*$,!9$*:"20!,($-)(-$&3!,-99*$(!1*$!(70!;$*4"%;!)&9"33&$'!3**9,8!&%2!,0$:0!&%! ".9*$(&%(!$*30!"%!(70!9&((0$%"%;!&%2!1"%&3!20:03*9.0%(!*1!(70!;3*.0$-3&$!(-1(5! ! >"(7"%!(70!CF,7&902!,($-)(-$08!$0;"*%,!*1!09"(703"&3!9$0)-$,*$,!)&%!+0!"20%("1"02!1*$! 0&)7!09"(703"&3!)*.9&$(.0%(!*1!(70!20:03*9"%;!%097$*%!ZVX8Vd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N_MG=]A!V! (70!)&9"33&$"0,5!#3(".&(03'8!9*2*)'(0,!$0:0$(!(*!&!-%"\-0!09"(703"&3!970%*('90!(7&(! 1&)"3"(&(0,!(70!,";%"1")&%(!10%0,($&("*%5!M2/&)0%(!9*2*)'(0,!9$*2-)0!.*2"1"02! /-%)("*%,!(7&(!1*$.!(70!,3"(!2"&97$&;.!Z2",)-,,02!"%!,0)("*%!V5O5V[8!&!)$-)"&3!10&(-$0! *1!(70!;3*.0$-3&$!1"3($&("*%!+&$$"0$5!=70!$0.&"%"%;!09"(703"-.!*1!(70!9$*@".&3!&$.!*1! (70!CF,7&902!+*2'!,-+,0\-0%(3'!1*$.,!(70!9&$"0(&3!09"(703"&3!3&'0$!*1!(70!L*4.&%^,! )&9,-30!&%2!0%)3*,0,!(70!;3*.0$-3&$!-$"%&$'!,9&)08!*$!L*4.&%^,!C9&)05! ! =70!(-+-3&$!9*$("*%,!*1!(70!%097$*%!&3,*!20:03*9!1$*.!(70!CF,7&902!+*2'!"%!&! 9$*@".&3F2",(&3!,0\-0%)0!ZVX8Vd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N_MG=]A!V! !"A"K" L'(*H)&,<%CC2(2+'%)'%*+, R-$"%;!%097$*;0%0,",8!,*.0!)033,!*1!(70!KK!2*!%*(!-%20$;*!)*%20%,&("*%!(*!1*$.! (70!(-+-3&$!09"(703"-.5!=70,0!)033,8!$0)*;%"D&+30!+'!(70"$!0@9$0,,"*%!*1!(70! ($&%,)$"9("*%!1&)(*$!B6oRV!Z1*$.0$3'!LBFJ[!ZIY[!2"110$0%("&(0!"%(*!(70!$0%&3!,($*.&! (7&(!9*9-3&(0,!(70!"%(0$,("("&3!,9&)0,!+0(400%!(70!20:03*9"%;!(-+-30,!ZB";-$0!V5X[5! =70!9$*2-)("*%!*1!,0:0$&3!;$*4(7!1&)(*$,!+'!(70!,($*.&!7&,!+00%!,7*4%!(*!,-99*$(! &%2!9$*.*(0!(70!9$*)0,,!*1!-$0(0$")!+-2!;$*4(7!&%2!+$&%)7"%;8!"%)3-2"%;!BSBJ8! BSBX!&%2!BSBVU!ZOd8IX[5!=70!,($*.&3!0@9$0,,"*%!*1!$0("%*")!&)"2!$0)09(*$,!#!&%2!"J! 7&,!+00%!,"."3&$3'!,7*4%!(*!+0!)$-)"&3!1*$!1&)"3"(&("%;!+$&%)7"%;!+'!.&"%(&"%"%;!(70! 0@9$0,,"*%!*1!A]=!"%!(70!-$0(0$")!+-2!("9!(7$*-;7!9$*2-)("*%!*1!-%<%*4%!9&$&)$"%0! ,";%&3,!ZVd[5!N*%:0$,03'8!+*%0!.*$97*;0%")!9$*(0"%!I!9$*2-)02!+'!,($*.&!"%7"+"(,! (70!0)(*9")!+-22"%;!*1!(70!>*311"&%!2-)(!&%2!-$0(0$")!+-2!&,!20,)$"+02! 9$0:"*-,3'!ZId[5!?%!&22"("*%!(*!$0;-3&("%;!-$0(0$")!+-2!;$*4(7!&%2!+$&%)7"%;8! ,($*.&3!,";%&3,!7&:0!9$*:0%!".9*$(&%(!"%!.&"%(&"%"%;!(70!.0,0%)7'.05!=70! )*.+"%02!&)(":"('!*1!BSBJ!&%2!+*%0!.*$97*;0%")!9$*(0"%!X!",!".9*$(&%(!"%!(70! .&"%(&"%"%;!(70!)*.90(0%)0!*1!(70!-%"%2-)02!.0,0%)7'.0!ZIa[8!&%2!"%!$0(-$%!",!&%! ".9*$(&%(!$0;-3&(*$!*1!(70!+&3&%)0!*1!;$*4(78!,-$:":&38!&%2!2"110$0%("&("*%!*1!(-+-3&$! 9$*;0%"(*$,!ZVd[5!=70!3&)<!*1!,($*.&3!&)(":"('8!&,!"%!.")0!201")"0%(!*1!B6oRV8! 9$*2-)0,!<"2%0',!4"(7!,";%"1")&%(!"%7"+"("*%!*1!%*$.&3!-$0(0$")!+-2!+$&%)7"%;8! &+%*$.&3!)*%20%,&("*%!*1!(70!KK8!&%2!&!3&)<!*1!.0,0%)7'.&3F09"(703"&3! ($&%,2"110$0%("&("*%!$0\-"$02!(*!9$*.*(0!(-+-3*;0%0,",!ZIY[5!?(!(70$01*$0!&990&$,! (7&(!$0)"9$*)&3!,";%&3"%;!+0(400%!,($*.&!&%2!09"(703"&3!)033,!",!)$-)"&3!1*$!(70! ,-$:":&3!&%2!9$*3"10$&("*%!*1!+*(7!)033!('90,!ZVd[5!=7*-;7!,("33!9**$3'!-%20$,(**28! ! OJ!  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N_MG=]A!J!  N:8@9;A#5 '(,!$%/.,'$(*,$*.-!$('.*G'%("2*%'4"14"* LIHI  .:5K568:*3ADE9K*<C*.7D<K56*G5EK9B*%5=98=9*  N7$*%")!<"2%0'!2",0&,0!ZN`R[!",!&!.&/*$!)&-,0!*1!.*$+"2"('!&%2!.*$(&3"('! 4*$324"20!&%2!30&2,!(*!&!:&$"0('!*1!)*.93")&("*%,!"%)3-2"%;!7'90$(0%,"*%8!&%0."&8! &)"2*,",8!$0%&3!.&3%-($"("*%!&%2!&3(0$02!."%0$&3!.0(&+*3",.!ZbU[5!M3(7*-;7!2-0!(*!&! %-.+0$!*1!2"110$0%(!0("*3*;"0,8!N`R!7&,!(70!)*..*%!0%2!9*"%(!*1!20)3"%"%;!$0%&3! 1-%)("*%5!=7",!20)3"%0!)&%!$0,-3(!1$*.!"%/-$'!(*!&%'!*1!(70!<"2%0'^,!2",("%)(!,($-)(-$0,! "%)3-2"%;!(70!;3*.0$-3-,8!$0%&3!:&,)-3&(-$08!*$!(70!(-+-3*"%(0$,("("&3!)*.9&$(.0%(,! &%2!)&%!7&:0!&!2":0$,0!$&%;0!*1!1-%)("*%&3!)*%,0\-0%)0,5!=70!:&$"0('!*1!.0)7&%",.,! *1!$0%&3!"%/-$'!)*-9302!4"(7!(70!)*.930@"('!*1!(70!<"2%0'!,";%"1")&%(3'!)*.93")&(0,! (70!($0&(.0%(!&%2!.&%&;0.0%(!*1!N`R5!=70!.*,(!,0:0$0!)3"%")&3!.&%"10,(&("*%!*1! N`R!",!(0$.02!0%2F,(&;0!$0%&3!2",0&,0!Z]CAR[!ZbU8bV[5!]CAR!",!p0%2F,(&;0q!"%!(7&(! (70!9&("0%(^,!<"2%0'!1-%)("*%!",!%*!3*%;0$!)&9&+30!*1!,-,(&"%"%;!3"108!&%2!$0%&3! $093&)0.0%(!(70$&9'!(7$*-;7!2"&3',",!*$!($&%,93&%(&("*%!",!$0\-"$025!>7"30!(70,0! (70$&9"0,!)&%!9$*:0!0110)(":08!(70'!+0&$!&!,-+,(&%("&3!0)*%*.")!)*,(!&%2!7&:0!3*%;F (0$.!".9&)(,!*%!(70!$0)"9"0%(^,!\-&3"('!*1!3"105!! -"!"!" E+8%52+82M,F*(')&%'@,)+5,F*(0%5%'@,*C,6L1<,, _",(*$")&33'8!(70!+0,(!($&)<02!9&("0%(,!40$0!(7*,0!,-110$"%;!1$*.!]CAR5!R-$"%;!(70! VaaU,8!]CAR!"%)$0&,02!2$&.&(")&33'!"%!(70!#%"(02!C(&(0,!4"(7!(70!"%)"20%)0!2*-+3"%;! 2-$"%;!(7",!90$"*2!ZbU[5!M!$0:"04!*1!2&(&!1$*.!(70!#5C5!A0%&3!R&(&!C',(0.8!1*-%2!(7&(! .*$0!(7&%!db8UUU!9&("0%(,!40$0!2"&;%*,02!4"(7!]CAR!"%!Vaad!4"(7!ObV8IUY!(*(&3! ! Ob!  N_MG=]A!J! ]CAR!9&("0%(,!&(!(70!)&30%2&$!'0&$^,!0%2!Z$0:"0402!"%!ZbU[[5!61!(70,0!9&("0%(,8!XJm! 40$0!($0&(02!+'!2"&3',",!47"30!(70!*(70$!Jdm!7&2!$0)0":02!*$;&%!($&%,93&%(,5! R0,9"(0!(70,0!$0%&3!$093&)0.0%(!($0&(.0%(,8!"(!",!0,(".&(02!(7&(!.*$0!(7&%!YO8UUU! ]CARF9&("0%(!20&(7,!*))-$$028!4"(7!&!JUm!.*$(&3"('!$&(0!*+,0$:02!4"(7"%!(70! 2"&3',",!9*9-3&("*%5!E"10!0@90)(&%)'!4"(7"%!(70!$0.&"%"%;!2"&3',",!9*9-3&("*%!",! 2$&.&(")&33'!,7*$(0$!(7&%!(70"$!&;0F.&()702!900$,8!4"(7!(70!0@90)(&%)'!*1!X5V!(*! VV5b!'0&$,!*1!3"10!1*$!9&("0%(,!&;02!IUFII!'0&$,8!&%2!J5X!(*!O5a!'0&$,!1*$!(7*,0!&;02! YUFYI!'0&$,5!>7"30!,0$:"%;!&,!0110)(":0!$093&)0.0%(,!*1!<"2%0'!1-%)("*%8!(70! $093&)0.0%(!(70$&9"0,!&$0!&,,*)"&(02!4"(7!,";%"1")&%(!.*$+"2"('!&%2!3*40$!,031F $09*$(02!\-&3"('!*1!3"105!?%!Vaad8!9&("0%(,!*%!2"&3',",!0@7"+"(02!&%!&:0$&;0!*1!I!)*F .*$+"2"("0,8!&%2!,90%(!&!.0&%!%-.+0$!*1!Vb!2&',!"%!7*,9"(&3!90$!'0&$5!?%!(*(&38!(70! #5C5!&%%-&3!)*,(,!1*$!,-)7!$093&)0.0%(!(70$&9"0,!(*(&302!sVY5X!+"33"*%!2*33&$,5!! ! =70$0!",!,-+,(&%("&3!0:"20%)0!(7&(!(70!+-$20%!*1!<"2%0'!2",0&,0!)*%("%-0,!(*! "%)$0&,05!=70!.*,(!)-$$0%(!#C!A0%&3!R&(&!C',(0.!2&(&!"%2")&(0!(7&(!(70!9$0:&30%)0! *1!]CAR!9&("0%(,!7&,!"%)$0&,02!(*!bIX8adJ!"%!JUUd!ZbJ[5!?%!N&%&2&8!JUUa!1";-$0,! "%2")&(0!OX8XII!$0;",(0$02!]CAR!9&("0%(,!ZbO[5!?%!+*(7!)*-%($"0,8!(70!&2-3(! 9*9-3&("*%!*:0$!(70!&;0!*1!JU!'0&$,!*32!)*%,("(-(0,!.*$0!(7&%!adm!*1!(70!]CAR! 9*9-3&("*%,!4"(7!&!(*(&3!*1!bIU8OXO!&%2!OX8VaY!9&("0%(,8!$0,90)(":03'5!?%!+*(7! )*-%($"0,8!(70!9$02*."%&%(!)&-,0!*1!]CAR!",!2"&+0(0,8!&))*-%("%;!1*$!Obm!*1!]CAR! 9&("0%(,!"%!(70!#5C5!&%2!JYm!"%!N&%&2&5!?%!(70!#C8!(70!%0@(!(4*!.*,(!)*..*%!)&-,0,! *1!]CAR!&$0!7'90$(0%,"*%!ZJOm[!&%2!"%13&..&(*$'!2",0&,0,!*1!(70!;3*.0$-3-,8!*$! ;3*.0$-3*%097$"(",!ZVIm[5!N&%&2"&%!1";-$0,!3",(!;3*.0$-3*%097$"(",!&%2!$0%&3! ! OY!  N_MG=]A!J! :&,)-3&$!2",0&,0!&,!(70!,0)*%2!&%2!(7"$2!.*,(!)*..*%!)&-,0,!*1!]CAR!ZJJm!&%2! VOm!$0,90)(":03'[5!>"(7!(70!9$0:&30%)0!*1!*+0,"('8!7'90$(0%,"*%!&%2!)&$2"*:&,)-3&$! 2",0&,0,!"%)$0&,"%;!"%!*-$!,*)"0('8!"(!",!)30&$!(7&(!<"2%0'!2",0&,0!",!&!$&9"23'!;$*4"%;! 70&3(7!9$*+30.5! -"!"-" :&)33%C%8)'%*+,*C,:9(*+%8,D%5+2@,<%32)32, ?%!;0%0$&3,(0$.,8!9$*;$0,,":0!N`R!",!201"%02!&,!(70!,3*4!3*,,!*1!<"2%0'!1-%)("*%!*:0$! (".05!?%!(70!)3"%")8!N`R!",!201"%02!&,!0"(70$!,($-)(-$&3!*$!1-%)("*%&3!2&.&;0!*1!(70! <"2%0',8!*$!(70!,";%"1")&%(!20)3"%0!"%!SBA8!3&,("%;!.*$0!(7&(!O!.*%(7,!ZbU[5!>7"30!(70! 0&$3"0$!1*$.,!*1!N`R!&$0!&,,*)"&(02!4"(7!3"((30!*$!%*!,'.9(*.,8!N`R!*1(0%!9$*:0,!(*! +0!9$*;$0,,":0!30&2"%;!(*!.*$0!,";%"1")&%(!2&.&;0!&%2!"%/-$'5!=7-,8!(70!]CAR!;$*-9! ",!(70!.*,(!:","+30!;$*-9!*1!9&("0%(,!4"(7!N`R!&%2!$0\-"$0,!(70!.*,(!)&$08!+-(!",!&3,*! (70!,.&330,(!9*9-3&("*%!"%!%-.+0$5!G$"*$!(*!JUUJ!3"((30!4&,!$09*$(02!&+*-(!(70! "%)"20%)08!9$0:&30%)08!*$!.*$+"2"('!&,,*)"&(02!4"(7!."320$!1*$.,!*1!N`R5!=7",!3&)<! *1!09"20."*3*;")&3!"%1*$.&("*%!4&,!3&$;03'!2-0!(*!9**$3'!201"%02!*$!"%)*%,",(0%(! 201"%"("*%,!*1!47&(!)*%,("(-(0,!."32!*$!.*20$&(0!N`R5!B-$(70$.*$08!(70!"%&+"3"('!(*! &))-$&(03'!"20%("1'!9&("0%(,!4"(7!0&$3"0$!1*$.,!*1!N`R!.&20!"(!2"11")-3(!(*!0110)(":03'! ($0&(!9&("0%(,!(*!."%"."D0!2",0&,0!9$*;$0,,"*%!ZbU[5!! ! >70%!N`R!",!"20%("1"02!0&$3'8!(70$&90-(")!"%(0$:0%("*%,!)&%!+0!0110)(":0!&(!,(&:"%;! *11!(70!9$*;$0,,"*%!(*!]CAR5!=*!(&<0!&2:&%(&;0!*1!(7",8!(70!#5C5!Q&("*%&3!`"2%0'! B*-%2&("*%!1*$.02!(70!`"2%0'!R",0&,0!6-()*.0,!h-&3"('!?%"("&(":0!Z`eR6h?[!"%! Vaaa!(*!)$0&(0!&!$09$0,0%(&(":0!)3&,,"1")&("*%!,',(0.!*1!N`R!(7&(!4*-32!&33*4!1*$! ,(&%2&$2"D&("*%!*1!)&$0!&%2!*-()*.0!($&)<"%;!*1!&33!,(&;0,!*1!N`R!ZbU[5!=7",!,',(0.! ! OX!  N_MG=]A!J! %00202!(*!-("3"D0!)3"%")&33'!.0&,-$&+30!)$"(0$"&!(*!20(0$."%0!+*(7!(70!,($-)(-$0!&%2! 1-%)("*%!*1!(70!<"2%0'8!&%2!(*!&993'!(70,0!:&3-0,!(*!(70!,0:0$"('!*1!N`R5!`"2%0'! ,($-)(-$08!*$!.*$0!,90)"1")&33'!(70!0@(0%(!*1!<"2%0'!"%/-$'8!)&%!+0!20(0$."%02! (7$*-;7!-$"%&3',",8!+"*".&;"%;8!&%2!+"*9,'5!?%!(70!)3"%")8!<"2%0'!1-%)("*%!",! 20(0$."%02!+'!.0&,-$"%;!(70!)30&$&%)0!*1!&!$030:&%(!,-+,(&%)0!*$!.&$<0$!1$*.!(70! ,0$-.!(*!20(0$."%0!(70!SBA!ZbI[5!N&3)-3&(02!0,(".&("*%,!*1!SBA!$0\-"$0! )*.93")&(02!%*$.&3"D&("*%,!1*$!&;08!70";7(8!40";7(8!;0%20$!&%2!0(7%")"('!*1!&!9&("0%(! "%!*$20$!1*$!(70!$0,-3(!(*!+0!"%1*$.&(":05!M%!"%F209(7!2",)-,,"*%!*1!(70,0!1*$.-3&0!",! +0'*%2!(70!,)*90!*1!(7",!$0:"048!7*40:0$8!"%(-"(":03'!SBA!)&%!+0!(7*-;7(!*1!&,!(70! $&(0!*1!1"3($&("*%!&%2!;0%0$&3"D02!&,!&!90$)0%(&;0!*1!(*(&3!%*$.&3!1-%)("*%5!Q*(&+3'8! SBA!20)3"%0,!&,!<"2%0'!"%/-$'!4*$,0%,!.&<"%;!"(!&!,-"(&+30!)3&,,"1")&("*%!)$"(0$"*%!"%! (70!)*%(0@(!*1!N`R5!! ! ?%!(70!`eR6h?!,',(0.8!0&)7!,(&;0!7&,!+00%!201"%02!+'!&!,90)"1")!$&%;0!*1!1-%)("*%! +&,02!-9*%!SBA!"%!(70!9$0,0%)0!*$!&+,0%)0!*1!$0%&3!2&.&;0!ZbU[5!C(&;0!V!20%*(0,! (70!9$0,0%)0!*1!<"2%0'!2&.&;0!"%!(70!&+,0%)0!*1!&%'!20)3"%0!"%!1-%)("*%!*$!SBA5! C(&;0,!J8!O8!&%2!I!$09$0,0%(!4*$,0%"%;!<"2%0'!"%/-$'!&,,*)"&(02!4"(7!&!,(094",0! 20)3"%0!*1!1-%)("*%!Z3*,,!*1!VVFIUm8!IVFXUm8!&%2!XVFdbm!1-%)("*%!$0,90)(":03'[5! C(&;0!b!$09$0,0%(,!(70!9*9-3&("*%!9$0:"*-,3'!201"%02!&,!]CAR8!,";%"1'"%;!&!SBA!*1! 30,,!(7&%!Vb.3e."%!*$!<"2%0'!1-%)("*%!&99$*@".&(03'!Vbm!*1!%*$.&35!=7",! )3&,,"1")&("*%!,',(0.!&33*4,!1*$!+0((0$!$0)*;%"("*%!*1!9&("0%(,!"%!(70!0&$3'!,(&;0,!*1! N`R8!&%2!1*$!(70!&993")&("*%!*1!,(&%2&$2"D02!($0&(.0%(!$0;".0%,!(&$;0(02!(*!,3*4!*$! 7&3(!(70!9$*;$0,,"*%!*1!N`R5, ! Od!  N_MG=]A!J! -"!"#" 6L1<,)3,),.9(239*&5,<%32)32, =70!`eR6h?!)3&,,"1")&("*%!,',(0.!7";73";7(,!&!,(&$(3"%;!10&(-$0!$0;&$2"%;!<"2%0',! &%2!(70"$!1-%)("*%W!%&.03'!(70!*%,0(!*1!,0:0$0!)3"%")&3!2",0&,0!$0\-"$0,!(70!3*,,!*1!&! .&/*$"('!*1!<"2%0'!1-%)("*%8!&99$*@".&(03'!dbm!ZbU[5!=7",!".93"0,!(7&(!-%20$! %*$.&3!)"$)-.,(&%)0,8!(70!<"2%0',!9*,,0,,!&!,";%"1")&%(!20;$00!*1!$02-%2&%)'!"%! (70"$!1-%)("*%5!=7",!$02-%2&%)'!",!,"."3&$3'!0:"20%(!"%!(70!,-$:":&3!*1!3":"%;!2*%*$,8! 47*!:*3-%(&$"3'!$02-)0!(70"$!<"2%0'!1-%)("*%!+'!bUm!(*!9$*:"20!&%!*$;&%!1*$! ($&%,93&%(5!?%!(7",!$0;&$2!]CAR!)&%!+0!(7*-;7(!*1!&,!&!(7$0,7*32!2",0&,08!1*$!"(,!*%,0(! ",!*%3'!$0&3"D02!470%!(70!20)3"%0!"%!*%0^,!$0%&3!1-%)("*%!$0&)70,!&!(7$0,7*32!:&3-0! (7&(!",!%*!3*%;0$!)&9&+30!*1!,-,(&"%"%;!3"105!! ! _*4!(70%8!4"(7!(70!0@(0%,":0!$02-%2&%)'!9$0,0%(!"%!(70!1-%)("*%!*1!*-$!<"2%0',8! 2*0,!,-)7!&!2$&.&(")!3*,,!*1!1-%)("*%!*))-$t!M,!20,)$"+02!"%!(70!9$0:"*-,!)7&9(0$8! (70!;3*+&3!1-%)("*%!*1!(70!<"2%0'!$0,-3(,!1$*.!"(,!.&%'!"%2":"2-&3!1"3($&("*%!-%"(,8!*$! %097$*%,5!M(!+"$(78!40!&$0!0%2*402!4"(7!*-$!1-33!)*.930.0%(!*1!&99$*@".&(03'!*%0! ."33"*%!%097$*%,!ZbUU8UUU!90$!<"2%0'[!Zbb[5!R-$"%;!*-$!3"10(".08!%*!%04!%097$*%,! 4"33!+0!1*$.025!#%1*$(-%&(03'8!&,!40!&;08!"%/-$'!;$&2-&33'!20)$0&,0,!(70!%-.+0$!*1! 70&3(7'8!1-%)("*%"%;!%097$*%,5!#%20$!%*$.&3!)"$)-.,(&%)0,8!"(!7&,!+00%!0,(".&(02! (70!&1(0$!(70!&;0!*1!Vd!40!3*,0!&99$*@".&(03'!I8bUU!;3*.0$-3"!90$!'0&$!ZbY[5!N3"%")&3! 0@&."%&("*%!,-;;0,(,!(7&(!(7",!.&'!&.*-%(!(*!&!$02-)("*%!*1!;3*.0$-3&$!%-.+0$!+'! OUFbUm!+'!&;0!XU!ZbX[5!M(!(7",!$&(08!*-$!0%2*4.0%(!*1!%097$*%,!&(!+"$(7!4"33!.*$0! (7&%!,0$:0!-,!*:0$!(70!$0&,*%&+30!)*-$,0!*1!*-$!3"10!0@90)(&%)'5!_*40:0$8!$0%&3! "%/-$'!&%2!2",0&,0!*1(0%!,0$:0!(*!&))030$&(0!(70!20)3"%0!"%!*-$!$0%&3!1-%)("*%!+'! ! Oa!  N_MG=]A!J! ,($0,,"%;!*$!2&.&;"%;!*-$!%097$*%,5!A0%&3!"%/-$'!)&%!+0!3"%<02!(*!2",0&,0,!,-)7!&,! )&$2"*:&,)-3&$!2",0&,05!?%!(70!)&,0!*1!7'90$(0%,"*%8!7";7!+3**2!9$0,,-$0!)&-,0,!(70! 0:0%(-&3!+$0&<2*4%!&%2!,)&$$"%;!*1!,-,)09("+30!;3*.0$-3"8!30&:"%;!1040$!1"3($&("*%! -%"(,!1"3(0$"%;!(70!,&.0!:*3-.0!*1!+3**2!Zbd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ba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N_MG=]A!J! ! _*4!(70%!",!&%!"%2":"2-&3^,!0%2*4.0%(!*1!%097$*%,!20(0$."%02t!?(!&990&$,!(7&(! +*(7!;0%0(")!&%2!20:03*9.0%(&3!1&)(*$,!93&'!&!$*30!Z$0:"0402!"%!Zbb[[5!N3"%")&3!2&(&! ,7*4!(7&(!7'90$(0%,"*%!&%2!$0%&3!2",0&,0!",!.*$0!9$0:&30%(!"%!)0$(&"%!0(7%")!;$*-9,! "%)3-2"%;!M-,($&3"&%!M+*$";"%&3,8!Q&(":0!M.0$")&%,!&%2!(7*,0!*1!M1$")&%! 20,)0%(!ZYOFYb[5!C"."3&$3'8!;0%0(")!9$02",9*,"("*%!(*!7'90$(0%,"*%!&%2!<"2%0'! 2",0&,0!)&%!+0!($&%,."((02!4"(7"%!1&."3"0,5!N30&$3'8!;0%0(")!1&)(*$,!&$0!&!.&/*$! 20(0$."%&%(!*1!%097$*%!0%2*4.0%(5!=*!2&(08!104!;0%0,!7&:0!+00%!,7*4%!(*! 2"$0)(3'!"%13-0%)0!%097$*%!0%2*4.0%(8!(7*-;7!,(-2"0,!7&:0!20.*%,($&(02!&!<0'! $*30!1*$!GMoJ!ZIO8Ib[5!?%!.&%'!)&,0,8!10(&3!9$*;$&.."%;!.&'!93&'!&!$*30!"%! "%13-0%)"%;!(70!20:03*9.0%(&3!9&(74&',!*1!(70!<"2%0'5!E*4!+"$(7!40";7(!",!&%! "%2")&(*$!*1!,-+F*9(".&3!"%($&-(0$"%0!;$*4(78!&%2!",!4033!20,)$"+02!&,!&!$",<!1&)(*$! 1*$!(70!9$*;$0,,"*%!*1!$0%&3!Zba8YY[!&%2!)&$2"*:&,)-3&$!2",0&,0!ZYX8Yd[5!E*4!+"$(7! 40";7(!7&,!+00%!,"."3&$3'!3"%<02!(*!&!$02-)("*%!*1!%097$*%!%-.+0$!ZYa[!4"(7! 0,(".&(0,!,-;;0,("%;!&!)*$$03&("*%!*1!JbX8IJY!;3*.0$-3"!90$!<"3*;$&.!+"$(7! 40";7(!ZZXU[[5!R0)$0&,02!%097$*%!%-.+0$!7&,!&3,*!+00%!*+,0$:02!"%!9$0F(0$.! +&+"0,!&%2!)*$$03&(0,!4"(7!;0,(&("*%&3!&;0!ZYa[5!=7",!$02-)("*%!",!3"<03'!2-0!(*!(70! &$$0,(!*1!3&(0$!;0,(&("*%&3!20:03*9.0%(!"%!1&:*$!*1!$0%&3!2"110$0%("&("*%!&%2! .&(-$&("*%!%00202!1*$!,-$:":&3!*-(,"20!(70!4*.+5!K&%'!&22"("*%&3!,(-2"0,!,"."3&$3'! ,-99*$(!(70!%097$*%!0%2*4.0%(!(70*$'!&%2!,-;;0,(!&!$03&("*%,7"9!+0(400%!+"$(7! 40";7(!&%2!%097$*%!%-.+0$5! !  ! IV!  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m!)&%! $0,-3(!"%!&!bUm!$02-)("*%!"%!(*(&3!%097$*%!%-.+0$!*:0$!*1!(70!)*-$,0!*1! 20:03*9.0%(!ZXV[5!M%!&99$*9$"&(0!10(&3!0%:"$*%.0%(!2-$"%;!<"2%0'!20:03*9.0%(!",! (70$01*$0!<0'!(*!(70!$0&3"D&("*%!*1!.&@".&3!;0%0(")&33'!9$*;$&..02!%097$*%! 0%2*4.0%(5!?%!&22"("*%!(*!;0%0(")!1&)(*$,!&%2!10(&3!9$*;$&.."%;!20,)$"+02!70$08! 10(&3!&%2!902"&($")!2",0&,0,!)&%!&3,*!7&:0!&!,";%"1")&%(!".9&)(!*%!+*(7!0%2*4.0%(! &%2!0&$3'!1-%)("*%&3!20)3"%0,5! -"!"A" :D<,%+,B25%)'(%8,B*4/&)'%*+3, N7"32$0%!$09$0,0%(!&!,.&33!9*$("*%!*1!(70!N`R!9*9-3&("*%5!G02"&($")!]CAR!7&,!&! 9$0:&30%)0!&%2!"%)"20%)0!*1!30,,!(7&%!Jm!*1!(70!(*(&3!]CAR!9*9-3&("*%!"%!(70!#5C!&%2! N&%&2&!Z9$0:&30%)0!*1!X8YUX!&%2!bId!9&("0%(,!$0,90)(":03'!ZbJ8bO[[5!_*40:0$8!1*$! (70!$0&,*%,!20,)$"+02!"%!(70!9$0:"*-,!2",)-,,"*%,!*%!%097$*%!0%2*4.0%(!&%2! 1-%)("*%&3!20)3"%08!N`R!"%!(7*,0!-%20$!Vd!)&%!7&:0!9$*1*-%2!".93")&("*%,!*%!3*%;F (0$.!70&3(7!&%2!3"10!0@90)(&%)'5!>7"30!"%!7-.&%,!%097$*;0%0,",!",!)*.930(0!+'! +"$(78!%097$*%!.&(-$&("*%!*))-$,!"%!(70!1"$,(!J!(*!O!'0&$,!*1!3"10!&%2!<"2%0'!;$*4(7! )*%("%-0,!-%("3!&;0!VJ!ZXJ[5!=70$01*$08!902"&($")!<"2%0'!"%/-$'!)&%!7&:0!&!,-+,(&%("&3! ".9&)(!*%!9*,(%&(&3!.&(-$&("*%!&%2!;$*4(78!"%)$0&,"%;!(70!3"<03"7**2!*1!9$*;$0,,"%;! ! IJ!  N_MG=]A!J! (7*-;7!(70!,(&;0,!*1!N`R5!B-$(70$.*$08!2",0&,0,!(7&(!&110)(!)7"32$0%!2-$"%;!)$"(")&3! (".0,!)&%!%0;&(":03'!".9&)(!<"2%0'!*$;&%*;0%0,",5!?%!9&$(")-3&$8!)*%;0%"(&3! 2",*$20$,!)&%!2",$-9(!<"2%0'!20:03*9.0%(8!&%2!&))*-%(!1*$!;$0&(0$!(7&%!IUm!*1! 9&02"&($")!N`R!ZXO[5! ! Q*(!,-$9$","%;3'8!(70!0("*3*;"0,!30&2"%;!(*!902"&($")!N`R!&$0!:&,(3'!2"110$0%(!1$*.! (7*,0!)&-,"%;!&2-3(!2",0&,05!?%!(70!#C!&%2!N&%&2&8!(4*!*1!(70!9$".&$'!)&-,0,!*1! 902"&($")!]CAR!%0)0,,"(&("%;!($&%,93&%(&("*%!&$0!7'9*93&,"&e2',93&,"&!*1!(70!<"2%0'! &%2!*+,($-)(":0!%097$*9&(7'!ZbO8XI[5!_'9*93&,"&e2',93&,"&!",!&!;0%0$&3!20,)$"9("*%! )*:0$"%;!&!7*,(!*1!2",*$20$,!$0,-3("%;!"%!(70!&+%*$.&3!*$!-%20$F20:03*9.0%(!*1!(70! <"2%0'5!6+,($-)(":0!%097$*9&(7'!20,)$"+0,!)*%2"("*%,!"%:*3:"%;!(70!$0,($")("*%!*1! -$"%&$'!13*4!)&-,"%;!,-+,0\-0%(!$0%&3!"%/-$'5!=70,0!(4*!2",*$20$,!&$0!+*(7! )*%;0%"(&3!&%*.&3"0,!&%2!(*;0(70$!&))*-%(!1*$!OVm!*1!#5C5!902"&($")!($&%,93&%(,! ZVb5d!&%2!Vb5Om!$0,90)(":03'[!ZXI[5!?%!N&%&2&8!7'9*93&,"&e2',93&,"&!&%2! *+,($-)(":0!%097$*9&(7'!)*.9$",0!JIm!*1!(70!($&%,93&%(!9*9-3&("*%!ZVY5bm!&%2! X5bm!$0,90)(":03'[!ZbO[5!N*%;0%"(&3!2",*$20$,!,-)7!&,!(70,0!*))-$!2-$"%;!(70!10(&3! 20:03*9.0%(!*1!(70!<"2%0'8!&%2!,0$:0!(*!".9&"$!(70!%*$.&3!9$*)0,,0,!*1!+$&%)7"%;! .*$97*;0%0,",!&%2!%097$*;0%0,",5!M,!&!$0,-3(!%097$*%!0%2*4.0%(8!&%2!(70$01*$0! 1-(-$0!1-%)("*%&3!9*(0%("&38!",!%0;&(":03'!".9&)(025! !  ! IO!  N_MG=]A!J!  LILI  /D5K8DB*,D86?*$Q=?DA6?5<K*  6+,($-)(":0!%097$*9&(7'!*))-$,!&,!&!$0,-3(!*1!-$"%&$'!($&)(!*+,($-)("*%!470%!(70! 9&,,&;0!*1!-$"%0!(7$*-;7!(70!-$"%&$'!($&)(!",!$0,($")(02!*$!+3*)<025!M,!&! )*%,0\-0%)08!-$"%&$'!:*3-.0!&%2!9$0,,-$0!"%)$0&,0!9$*@".&3!(*!(70!*+,($-)("*%! )&-,"%;!7'2$*%097$*,",8!*$!,4033"%;8!*1!(70!<"2%0'!ZXb[5!N3"%")&33'8!(70!+3*)<&;0!*1! -$"%&$'!13*4!",!-,-&33'!%*(!)*.930(08!&%2!(70!20;$00!*1!-$"%&$'!$0,($")("*%! 20(0$."%0,!(70!,0:0$"('!*1!7'2$*%097$*,",!&%2!-$"%&$'!9$0,,-$05!M)-(0!*+,($-)("*%! )&%!$0,-3(!"%!."%".&3!2&.&;0!"1!\-")<3'!$0:0$,028!7*40:0$!9$*3*%;02!*$!)7$*%")! *+,($-)("*%!)&%!30&2!(*!4"20,9$0&2!2&.&;0!(*!(70!<"2%0'8!(*!,)&$$"%;8!&%2! -3(".&(03'!(*!(70!".9&"$.0%(!*1!3*%;F(0$.!<"2%0'!1-%)("*%!ZXb8XY[5!! ! #$"%&$'!($&)(!*+,($-)("*%!)&%!&110)(!&2-3(,!+-(!",!.*,(!)*..*%!"%!)7"32$0%8! 0,90)"&33'!'*-%;!+*',5!?%!(70!#5C58!-$"%&$'!($&)(!*+,($-)("*%!&))*-%(,!1*$!-9!(*!JIm! *1!902"&($")!($&%,93&%(,8!+-(!*%3'!U5Om!*1!($&%,93&%(,!"%!&2-3(,!ZXX[5!=7",! 2",)$09&%)'!$0130)(,!(70!:0$'!2"110$0%(!0("*3*;"0,!*1!-$"%&$'!($&)(!*+,($-)("*%!"%!(70! &2-3(!&%2!902"&($")!9*9-3&("*%,8!&%2!7";73";7(,!(70!".9&)(!*1!)7"327**2!2",0&,0!*%! <"2%0'!20:03*9.0%(8!.&(-$&("*%8!&%2!3*%;F(0$.!1-%)("*%5!?%!&2-3(,8!-$"%&$'!($&)(! *+,($-)("*%!*))-$,!.*,(!1$0\-0%(3'!"%!.0%!*:0$!(70!&;0!*1!YU!&,!&!$0,-3(!*1!9$*,(&(0! 2",0&,0,!*$!)&%)0$,!(7&(!".9&"$!-$"%0!13*4!ZXd[5!_*40:0$8!+0)&-,0!&2-3(!-$"%&$'! ($&)(!*+,($-)("*%!&110)(,!(70!.&(-$0!&%2!20:03*902!<"2%0'!&%2!)&%!*1(0%!+0!($0&(02! +01*$0!,";%"1")&%(!$0%&3!2&.&;0!*))-$,8!"(,!*:0$&33!".9&)(!",!-,-&33'!3"."(02!(*!&)-(0! 20)3"%0,!"%!<"2%0'!1-%)("*%5!?%!)7"32$0%8!-$"%&$'!($&)(!*+,($-)("*%!$0,-3(,!  ! II!  N_MG=]A!J! 9$02*."%&%(3'!1$*.!)*%;0%"(&3!&%*.&3"0,8!&%2!(70$01*$0!7&,!.*$0!4"20,9$0&2! ".93")&("*%,!*%!<"2%0'!20:03*9.0%(!&%2!3*%;F(0$.!1-%)("*%5! -"-"!" :*+;2+%')&,?(%+)(@,.()8',N03'(/8'%*+, ]:0%!3429/<60!(70!7-.&%!10(&3!<"2%0'!9$*2-)0,!-$"%08!+0;"%%"%;!&,!0&$3'!&,!(70!d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b[[5!N*%;0%"(&3! .&31*$.&("*%,!*1!(70!-$"%&$'!($&)(!&$0!(70!.*,(!1$0\-0%(3'!2"&;%*,02!&%*.&3"0,! 2-$"%;!$*-("%0!,*%*;$&97'!4"(7!-$"%&$'!($&)(!*+,($-)("*%!*))-$$"%;!&(!&!$&(0!*1! &+*-(!VeJUUU!9$0;%&%)"0,5!?%!&110)(02!10(-,0,8!*+,($-)("*%!",!&%!".9*$(&%(!)&-,0!*1! .*$+"2"('!&%2!.*$(&3"('!ZXaFdO[5!K*,(!)*%;0%"(&3!*+,($-)("*%,!&$0!2"&;%*,02!"%!(70! ,0)*%2!($".0,(0$!ZVXFVa!400<,[!2-$"%;!$*-("%0!2&("%;!,*%*;$&97'8!+'!*+,0$:&("*%! *1!2"3&(&("*%!*1!(70!$0%&3!903:",8!2",(0%,"*%!*1!(70!+3&220$8!*$!(7")<0%"%;!*1!(70! +3&220$!4&33,!ZXJ[5!K*$0!,0:0$0!)&,0,!4"(7!&2:&%)02!2"3&(&("*%!*1!(70!)*330)("%;! ,',(0.!)&%!*1(0%!+0!2"&;%*,02!&,!0&$3'!VJFVI!400<,5!#%1*$(-%&(03'8!+'!(70!(".0! ;$*,,!)7&%;0,!"%!-$"%&$'!($&)(!,($-)(-$0!&$0!*+,0$:&+30!:"&!,*%*;$&97")! ! Ib!  N_MG=]A!J! :",-&3"D&("*%8!(70!*+,($-)(":0!"%/-$'!7&,!&3$0&2'!+0;-%!(*!%0;&(":03'!".9&)(!(70! 20:03*9.0%(!&%2!1-%)("*%!*1!(70!<"2%0'5!]&$3"0$!20(0)("*%!*1!*+,($-)("*%!".93"0,! 0&$3"0$!*%,0(!*1!1-%)("*%&3!-$"%&$'!$0,($")("*%!&%2!",!(70$01*$0!&,,*)"&(02!4"(7! "%)$0&,02!$0%&3!2&.&;0!&%2!9**$0$!9$*;%*,",5! ! N*%;0%"(&3!*+,($-)("*%!",!)&-,02!+'!&!7*,(!*1!9*,,"+30!.&31*$.&("*%,!*$! &+%*$.&3"("0,!&%2!)&%!&110)(!*%0!*$!+*(7!<"2%0',5!#%"3&(0$&3!.&31*$.&("*%,!&$0! .*$0!)*..*%!(7&%!+"3&(0$&3!*))-$$0%)0,!Zd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b[5!63";*7'2$&.%"*,!",!&,,*)"&(02!4"(7!(70!4*$,(!9$*;%*,",!&,!*(70$! 20:03*9.0%(&3!)*.93")&("*%,8!"%)3-2"%;!9-3.*%&$'!7'9*93&,"&8!&$",0!"%!(70!&+,0%)0! *1!&20\-&(0!&.%"*(")!:*3-.05! ! A0,($")("*%!*1!-$"%&$'!13*4!)&%!*))-$!"%!0"(70$!(70!-990$!*$!3*40$!-$"%&$'! ($&)(!ZB";-$0!V5V[5!>70%!&110)("%;!(70!-990$!-$"%&$'!($&)(8!%&.03'!(70!$0%&3!903:",! &%2!-$0(0$,8!(70!*+,($-)("*%!",!.*$0!)*..*%3'!-%"3&(0$&3!ZXb8XY[5!=70!9$".&$'!,"(0! *1!-990$!-$"%&$'!($&)(!*+,($-)("*%!",!(70!-$0(0$*903:")!/-%)("*%!470$0!(70!$0%&3! ! IY!  N_MG=]A!J! 903:",!($&%,"("*%,!"%(*!(70!-$0(0$5!K&31*$.&("*%!*1!(70!-$0(0$*903:")!/-%)("*%!*))-$,! 2-0!(*!-$0(0$")!,($")(-$0,8!2-93")&("*%,8!*$!*(70$!&+%*$.&3"("0,!&%2!&))*-%(,!1*$!Oa! (*!YIm!*1!$09*$(02!"%,(&%)0,!*1!7'2$*%097$*,",5!?%!)*%($&,(8!*+,($-)("*%!*1!(70! 3*40$!-$"%&$'!($&)(!$0,-3(,!1$*.!.&31*$.&("*%,!*1!(70!+3&220$!*-(30(!*$!-$0(7$&!&%2! (70$01*$0!$0,($")(,!(70!13*4!"%!+*(7!<"2%0',5!E*40$!-$"%&$'!($&)(!*+,($-)("*%!.*,(! )*..*%3'!$0,-3(,!1$*.!(70!1*$.&("*%!*1!9*,(0$"*$!-$0(7$&3!:&3:0,!&(!(70!,"(0!*1!(70! +3&220$!*-(30(8!*$!1$*.!-$0(7$&3!&($0,"&5!=70,0!(4*!.&31*$.&("*%,!&))*-%(!1*$!YIm! &%2!Jam!*1!3*40$!-$"%&$'!($&)(!*+,($-)("*%,!$0,90)(":03'!Z&99$*@".&(03'!J5J!90$! VU8UUU!+"$(7,[!ZXa[5! , ?%!)&,0,!*1!-990$!-$"%&$'!($&)(!*+,($-)("*%8!(70!,0:0$"('!*1!(70!*-()*.0!2090%2,! -9*%!470(70$!(70!"%/-$'!",!+"3&(0$&38!&%2!-9*%!(70!0@(0%(!*1!7'2$*%097$*,",5! M%(0%&(&3!7'2$*%097$*,",!*1(0%!,(&+"3"D0,!Zdb[!4"(7!(70!9*,(%&(&3!9&(7*3*;'! 9$*9*$("*%&3!(*!(70!,0:0$"('!*1!(70!7'2$*%097$*,",!ZdY[5!6-()*.0,!1*$!+"3&(0$&3! *+,($-)("*%8!"%)3-2"%;!(7*,0!*1!(70!3*40$!-$"%&$'!($&)(8!&$0!.*$0!:&$"&+30!&%2! 9*(0%("&33'!.*$0!,0:0$05!K*$(&3"('!$0,-3("%;!1$*.!-%($0&(02!3*40$!-$"%&$'!($&)(! *+,($-)("*%!",!&99$*@".&(03'!Ibm8!4"(7!JbFOUm!*1!,-$:":"%;!)7"32$0%!20:03*9"%;! ]CAR!&%2!$0\-"$"%;!$0%&3!$093&)0.0%(!(70$&9'!ZdX[5!?%!(70!9$0,0%)0!*1! *3";*7'2$&.%"*,8!.*$(&3"('!/-.9,!(*!&,!7";7!&,!dUm!Zdd[5! ! =$0&(.0%(!*1!)*%;0%"(&3!-$"%&$'!($&)(!*+,($-)("*%!",!,";%"1")&%(3'!3"."(02!+'!(70! "%&))0,,"+"3"('!*1!(70!10(-,5!K"320$!)&,0,!)&%!+0!)*%,0$:&(":03'!.*%"(*$02!(7$*-;7! ;0,(&("*%8!&%2!)&%!0@90)(!$03&(":03'!;**2!9*,(%&(&3!9$*;%*,",!4"(7!&99$*9$"&(0! ! IX!  N_MG=]A!J! .&%&;0.0%(5!?%!,0:0$0!)&,0,8!($0&(.0%(!",!3"."(02!(*!(70!(0$."%&("*%!*1!(70! 9$0;%&%)'!*$!10(&3!,-$;0$'5!?%!)-$$0%(!9$&)(")08!10(&3!"%(0$:0%("*%,!&$0!9$".&$"3'! 3"."(02!(*!(70!)'(*,)*9")!&+3&("*%!*1!9*,(0$"*$!-$0(7$&3!:&3:0,!*$!(70!"%,0$("*%!*1!&! :0,")*F&.%"*(")!,7-%(!Zda8a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a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aJ[5!=70,0!.*203,!7&:0! 0.93*'02!+*(7!3&$;0!&%2!,.&33!&%".&3!,90)"0,8!&%2!"%)3-202!10(&38!9*,(%&(&3!&%2! &2-3(!-$"%&$'!($&)(!*+,($-)("*%5!=7*-;7!3"."(&("*%,!0@",(8!0&)7!.*203!7&,!9$*:"202! ,";%"1")&%(!)*%($"+-("*%,!(*!*-$!-%20$,(&%2"%;!*1!(70!.0)7&%",.,!&%2!"%(0$&)("*%,! "%:*3:02!"%!(70!9&(7*;0%0,",!*1!-$"%&$'!($&)(!*+,($-)("*%5! ! Id!  N_MG=]A!J! ! C0:0$&3!10(&3!.*203,!*1!-$"%&$'!($&)(!*+,($-)("*%!7&:0!+00%!-,02!(*!,(-2'!)*%;0%"(&3! *+,($-)(":0!"%/-$'8!"%!9&$(")-3&$8!3429/<60!-$"%&$'!($&)(!*+,($-)("*%!"%!(70!10(&3!3&.+! ZaOFaX[!&%2!(70!10(&3!.*%<0'!ZadFVUU[5!=70!20:03*9.0%(!*1!(70!10(&3!3&.+! $0,0.+30,!(7&(!*1!(70!7-.&%!10(-,8!4"(7!&!3*%;!10(&3!;0,(&("*%!*1!VIbFVbU!2&',8!&%2! 9$*9*$("*%&(0!2-$&("*%!*1!%097$*;0%0,",!+0;"%%"%;!&(!JX!2&',!&%2!9$*)002"%;!(*! %0&$F(0$.5!R-0!(*!(70!3&$;0!$03&(":0!,"D0!*1!(70!3&.+!10(-,8!10(&3!.&%"9-3&("*%!",! 9*,,"+30!&%2!,0:0$&3!.*20,!*1!,-$;")&3!*+,($-)("*%!7&:0!+00%!0.93*'02!(*!"%2-)0! *+,($-)("*%!*1!0"(70$!(70!-$0(0$,!*$!-$0(7$&!ZaY8aX8VUV[5!=7",!*:"%0!.*203!$0130)(,! ,*.0!*1!(70!<0'!10&(-$0,!*1!7-.&%!)*%;0%"(&3!-$"%&$'!($&)(!*+,($-)("*%5!C(-2"0,!4"(7! )*.930(0!+3*)<&;0!*1!(70!+3&220$!*-(30(!$0)&9"(-3&(0!(70!0110)(,!*1!+"3&(0$&3! *+,($-)("*%!&(!+"$(7!4"(7!7'2$*%097$*,",8!*3";*7'2$&.%"*,8!9-3.*%&$'!7'9*93&,"&8! &%2!%0*%&(&3!20&(7!Zab[5!! ! ]@90$".0%(,!-,"%;!-%"3&(0$&3!-$0(0$")!*+,($-)("*%!Z##6[!:"&!,-$;")&3!3";&("*%! 90$1*$.02!"%!0&$3'!;0,(&("*%!Z2&',!IbF!XU!2&',[!$0,-3(02!"%!,";%"1")&%(!$0%&3! 2',93&,"&8!)*%,",(0%(!4"(7!(7&(!,00%!"%!7-.&%!)*%;0%"(&3!-$"%&$'!($&)(!*+,($-)("*%5! _*40:0$8!<"2%0',!*+,($-)(02!"%!(70!3&,(!7&31!*1!;0,(&("*%!Z.*$0!(7&%!XU!2&',[! 9$*2-)02!.&$<02!7'2$*%097$*,",!4"(7*-(!2',93&,"&5!=70,0!$0,-3(,!)30&$3'! 20.*%,($&(0!(7&(!(70!("."%;!*1!10(&3!*+,($-)("*%!",!)$-)"&3!(*!(70!*-()*.0!ZaO8aY[5! ! =70!,0)*%2!3&$;0!&%".&3!.*203!*1!10(&3!-$"%&$'!($&)(!*+,($-)("*%!",!(70!$70,-,! .*%<0'!Z@ABABA2;9CCA/A[!.*203!Zad8aa[5!=7",!%*%F7-.&%!9$".&(0!.*203!7&,8!"%! ! Ia!  N_MG=]A!J! &22"("*%!(*!"(,!;0%0("),8!;0,(&("*%&3!&%2!%097$*;0%0,",!2-$&("*%,!.*,(!,"."3&$!(*! 7-.&%,5!=70!9$".&(0!10(&3!;0,(&("*%!3&,(,!VYb!±b!2&',!4"(7!%097$*;0%0,",!0%2"%;! %0&$!(0$.!&,!"%!7-.&%,5!?%!(7",!.*2038!9&$("&3!-%"3&(0$&3!*+,($-)("*%!",!"%2-)02!+'! "%/0)("*%!*1!&3;"%&(0!+0&2,!"%(*!(70!$0%&3!7"3-.!-,"%;!&%!-3($&,*-%2F;-"202!%00230!&(! :&$"*-,!,(&;0,!(7$*-;7*-(!(70!J%2!&%2!0&$3'!O$2!($".0,(0$!ZXU!n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b[!&%2! $*20%(!.*203,!7&:0!(&<0%!&2:&%(&;0!*1!(70!1&)(!(7&(!%097$*;0%0,",!)*%("%-0,!&1(0$! ! bU!  N_MG=]A!J! +"$(7!(*!&33*4!1*$!(70!&99$*@".&("*%!*1!10(&3!*+,($-)("*%!4"(7*-(!(70!%002!1*$!342 9/<60!.&%"9-3&("*%5! ! =70!Q*$(7!M.0$")&%!*9*,,-.!;":0,!+"$(7!(*!9-9,!VJFVO!2&',!9*,(F)*%)09("*%!(7&(! &$0!20:03*9.0%(&33'!)*.9&$&+30!(*!&%!d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a[5!C(-2"0,!*1!1"+$*(")!9$*;$0,,"*%!"%!(7",!.*203!7&:0! 9$*:"202!&!40&3(7!*1!"%1*$.&("*%!&+*-(!(70!-%20$3'"%;!.0)7&%",.,!*1!*+,($-)(":0! "%/-$'5!?%!*$20$!(*!,90)"1")&33'!$093")&(0!)*%;0%"(&3!-$"%&$'!($&)(!*+,($-)("*%8!,*.0! $0,0&$)70$,!7&:0!(&<0%!&2:&%(&;0!*1!&!4"%2*4!*1!9*,(%&(&3!<"2%0'!20:03*9.0%(! (7&(!*))-$,!"%!(70!$*20%(!,90)"0,5!#%3"<0!(70!3&$;0$!.&..&3,8!$*20%(!%097$*;0%0,",! &%2!$0%&3!.&(-$&("*%!",!"%)*.930(0!&(!+"$(75!?%!$*20%(!%0*%&(0,8!)*%("%-"%;! ! bV!  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aO8aY8VUV[8! &%2!9$".&(0!.*203,!Zad8aa[8!0&$3'!*+,($-)("*%!30&2,!(*!(70!20:03*9.0%(!*1!$0%&3! 2',93&,"&5!?%!)*%($&,(8!*+,($-)("*%!2-$"%;!3&(0$!,(&;0,!*1!<"2%0'!20:03*9.0%(!*$!"%! (70!&2-3(!<"2%0'!$0,-3(,!9$02*."%&%(3'!"%!1"+$*,",!ZaX8VJJ[5!_*40:0$8!+*(7! 2',93&,(")!&%2!1"+$*(")!<"2%0',!,7&$0!&!<0'!0%29*"%(P!(70!$02-)("*%!*1!<"2%0'! 1-%)("*%5!! ! =70!0("*3*;"0,!*1!$0%&3!2',93&,"&!&$0!2":0$,0!&%2!(70!9&(7*;0%0,",!*1!(70!2',93&,(")! <"2%0'!",!9**$3'!-%20$,(**25!=70!7&33.&$<,!*1!2',93&,"&8!%&.03'!(70!9$0,0%)0!*1! -%2"110$0%("&(02!&%2!.0(&93&,(")!(",,-0,8!,-;;0,(!(7&(!(7",!*-()*.0!",!)&-,02!+'! 2',$0;-3&("*%!*1!(70!%*$.&3!9$*)0,,0,!*1!<"2%0'!20:03*9.0%(!ZVJOFVJb[5!_*40:0$8! <"2%0'!20:03*9.0%(!",!)*.930@8!&%2!&(!&!)033-3&$!30:03!",!$0;-3&(02!+'!&!3&$;0! %-.+0$!*1!($&%,)$"9("*%!1&)(*$,8!;$*4(7!1&)(*$,8!)033!&270,"*%!.*30)-30,8!&%2! ! bJ!  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ad8VVY8VJO8VJI8VJX8VJd[5!?%!(70,0!<"2%0',!&+-%2&%(!&9*9(*,",! *))-$,!"%!(70!.0,0%)7'.&3!&%2!,($*.&3!)033,!,-$$*-%2"%;!(70!)',(")!(-+-30,5!=70! 09"(703"&!*1!(70!-$0(0$")!+-2!&%2!(-+-30,!0@7"+"(!"%)$0&,02!0@9$0,,"*%!*1!,0:0$&3!9$*F 9$*3"10$&("*%!&%2!9$*F,-$:":&3!1&)(*$,!"%)3-2"%;!GMo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bO!  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a8VOU[5!=70!&))-.-3&("*%!*1!-$"%0!($&%,."(,!9$0,,-$0!"%(*!(70!$0%&3! )&3')0,8!)*330)("%;!,',(0.!&%2!0:0%(-&33'!(70!(-+-3&$!,0;.0%(,!*1!(70!%097$*%!ZVOV[5! #9*%!$0&)7"%;!(70!;3*.0$-3-,8!"%)$0&,02!3-."%&3!9$0,,-$0!)*-%(0$&)(,!(70! 7'2$&-3")!9$0,,-$0!;$&2"0%(!&)$*,,!(70!1"3($&("*%!.0.+$&%08!20)$0&,"%;!SBA5! M3(0$&("*%,!"%!$0%&3!+3**2!13*4!*))-$!,**%!&1(0$!-$"%&$'!*+,($-)("*%!ZXd[5!?%"("&33'8!&! +$"01!90$"*2!*1!&110$0%(!&$(0$"*3&$!:&,*2"3&(&("*%!*))-$,!$0,-3("%;!"%!"%)$0&,02!$0%&3! ! bI!  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b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d[5!L3*)<&20!*1!NNAJ8!(70!$0)09(*$! 1*$!.&)$*97&;0!)70.*&(($&)(&%(!9$*(0"%FV8!&3,*!&.03"*$&(0,!1"+$*,",!ZVOa[5! R0930("*%!*1!=F)033!3"%0&;0,!",!,"."3&$3'!&,,*)"&(02!4"(7!$02-)02!"%/-$'!&%2!1"+$*,",! 4"(7!20)$0&,02!"%(0$,("("&3!0@9&%,"*%!&%2!)*33&;0%!209*,"("*%!ZVIU[5!E*,,!*1!=F)033,! ! bb!  N_MG=]A!J! 7&,!%*!0110)(!*%!.&)$*97&;0!$0)$-"(.0%(!&%2!$0)*%,("(-("*%!*1!NRIj!=_F)033,8!+-(!%*(! NRdj!=NF)033,8!$0,(*$0,!1"+$*(")!"%/-$'5!=7",!,-;;0,(,!&!$*30!1*$!=_F)033,!"%!.*2-3&("%;! (70!&)(":&("*%!&%2!&)(":"('!*1!.&)$*97&;0,!1*33*4"%;!*+,($-)("*%5! ! ?"#"$'/,6(/)<1I,'*-,6<)<()+%+9!C-+,0\-0%(!(*!(70!"%13-@!*1!"%13&..&(*$'!)033,8! ,";%"1")&%(!(-+-3&$!&($*97'!*))-$,5!=70!$*30!*1!&9*9(*,",!"%!9&$0%)7'.&3!3*,,!&%2! (-+-3&$!"%/-$'!7&,!+00%!4"203'!$09*$(02!ZVIVFVIY[5!#,"%;!(70!$&(!##6!.*2038! =$-*%;!</?2AC!90$1*$.02!&!)*.9$070%,":0!0@&."%&("*%!*1!&9*9(*,",!&%2! 9$*3"10$&("*%!1*33*4"%;!*+,($-)(":0!"%/-$'!ZVIV[5!B*33*4"%;!##68!(-+-3&$!&9*9(*,",! 4&,!1"$,(!%*(02!&(!2&'!V!"%!(70!"%%0$!.02-33&8!+01*$0!"%:*3:"%;!(70!0%("$0!.02-33&!+'! 2&'!Vb8!&%2!(70!)*$(0@!+'!2&'!Jb5!=70!1$0\-0%)'!*1!&9*9(*,",!"%)$0&,02!2$&.&(")&33'! 1$*.!2&'!Y!(*!2&'!Jb!9*,(F*+,($-)("*%!+01*$0!20)3"%"%;!$&9"23'!-%("3!2&'!IO5!=-+-3&$! 9$*3"10$&("*%!0@7"+"(02!&!$&9"2!90&<!*1!&3.*,(!YU!(".0,!%*$.&3!30:03,8!+0;"%%"%;!&(! 2&'!V!&%2!$0(-$%"%;!(*!+&,03"%0!+'!2&'!VU5!=-+-3&$!9$*3"10$&("*%!4&,!.*,(!)*..*%! "%!(70!2-)(,!&%2!(-+-30,!*1!(70!*-(0$!.02-33&5!?%(0$,("("&3!&9*9(*,",!$0.&"%02!3*4! 2-$"%;!(70!90&<!"%!(-+-3&$!&9*9(*,",8!+-(!"%)$0&,02!,(0&2"3'!&,!*+,($-)("*%! 9$*;$0,,025!?%(0$,("("&3!9$*3"10$&("*%!0@7"+"(02!&!.*20$&(0!90&<!+0(400%!2&',!V!&%2! Jb8!4"(7!&!,0)*%28!.*$0!,-+,(&%("&3!90&<!1$*.!2&'!YU!(*!aU5!!! !  !  M!)3*,0!)*$$03&("*%!+0(400%!(-+-3&$!2"3&(&("*%!&%2!&9*9(*,",!7&,!+00%!20,)$"+02! 1*33*4"%;!.*-,0!##6!ZVII[5!B*33*4"%;!*+,($-)("*%8!(-+-3&$!2"3&(&("*%!4&,!.*,(! 9$*%*-%)02!"%!(70!2",(&3!)*%:*3-(02!(-+-30!&%2!)*330)("%;!2-)(!&(!VJ!2&',!9*,(F *+,($-)("*%!47"30!9$*@".&3!(-+-30,!0@7"+"(02!3"."(02!2"3&(&("*%5!B-$(70$.*$08! ! bY!  N_MG=]A!J! 2"3&(&("*%!9$*;$0,,":03'!"%)$0&,02!"%!&!$0($*;$&20!1&,7"*%!4"(7!.02-33&$'!)*330)("%;! 2-)(!2"3&(&("*%!0@)002"%;!(7&(!*1!(70!)*$(")&3!)*330)("%;!2-)(8!&%2!)*$(")&3!2",(&3! )*%:*3-(02!(-+-30!0@)002"%;!.02-33&$'!2",(&3!)*%:*3-(02!(-+-30e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`R!&%2!$0,-3(,!1$*.!(70!&))-.-3&("*%! *1!0@)0,,":0!0@($&)033-3&$!.&($"@!&(!(70!0@90%,0!*1!%*$.&3!9&$0%)7'.&3!(",,-0!ZVIXF VbU[5!#%20$!%*$.&3!)*%2"("*%,8!&!+&3&%)0!*1!.&($"@!,'%(70,",!&%2!20;$&2&("*%! ! bX!  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b8VbV8VbJ[5!>7"30!(70!)033-3&$!*$";"%!*1!=SB"FV! 1*33*4"%;!*+,($-)("*%!",!-%)30&$8!"(!",!$09*$(02!(*!+0!9$*2-)02!+'!+*(7!(70!$0%&3! 09"(703"-.!&%2!(70!"%1"3($&("%;!.&)$*97&;0!9*9-3&("*%!ZVOI8VbVFVb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bV8VbI[5! ! bd!  N_MG=]A!J! ! M!%-.+0$!*1!*(70$!9$*1"+$*(")!1&)(*$,!"%13-0%)0!(70!9$*;$0,,"*%!*1!.&($"@! &))-.-3&("*%8!&%2!*1(0%!&)(!"%!)*%)0$(!4"(7!=SB"FV5!N*%%0)(":0!(",,-0!;$*4(7!1&)(*$! ",!&%!".9*$(&%(!.02"&(*$!*1!=SB"!&)(":"('8!47")7!9*(0%("&(0,!1"+$*,",!+'!)*%($"+-("%;! (*!1"+$*+3&,(!9$*3"10$&("*%!&%2!.&($"@!,'%(70,",!ZVId[5!M%;"*(0%,"%!??!7&,!+00%! ,7*4%!(*!+0!&%!".9*$(&%(!,(".-3&(*$!*1!=SB"FV!9$*2-)("*%8!&%2!.&'!&))*-%(!1*$!-9! (*!bUm!*1!*+,0$:02!1"+$*,",!1*33*4"%;!*+,($-)("*%!ZVbb[5!=70!9$*1"+$*(")!&)(":"('!*1! &%;"*(0%,"%!??!&990&$,!(*!+0!)3*,03'!3"%<02!4"(7!(70!$0;-3&("*%!*1!*(70$!9$*1"+$*(")! )'(*<"%0,!&%2!($&%,)$"9("*%!1&)(*$,8!"%)3-2"%;!=SB"FV8!(-.*$!%0)$*,",!1&)(*$!#8!&%2! (70!QB$L!9&(74&'!ZVbY[5!=-.*$!%0)$*,",!1&)(*$!#!",!&!9*(0%(!9$*F"%13&..&(*$'! .02"&(*$!(7&(!.&'!9&$(")"9&(0!"%!1"+$*(")!9$*;$0,,"*%!.&"%3'!+'!1&)"3"(&("%;!(70! $0)$-"(.0%(!*1!"%13&..&(*$'!)033,!:"&!QB$L^,!,(".-3&("*%!*1!9$*F"%13&..&(*$'! )'(*<"%0,5!QB$L!&)(":"('!7&,!+00%!,7*4%!(*!"%)$0&,0!bFX!2&',!&1(0$!*+,($-)("*%!&%2! 7&,!+00%!)*$$03&(02!4"(7!"%)$0&,02!"%(0$,("("&3!9$*3"10$&("*%!&%2!1"+$*,",!ZVbX[5!! !  !  -"-"K" Q,B)()5%;H,*C,E+R/(@, ?%13&..&("*%8!(-+-3&$!&($*97'!&%2!1"+$*,",!&$0!<0'!0:0%(,!"%!(70!9$*;$0,,"*%!*1! *+,($-)(":0!"%/-$'!&%2!7&:0!+00%!4033!)7&$&)(0$"D02!"%!(70!3"(0$&(-$05!_*4!(70! 97',")&3!.&%"10,(&("*%,!*1!"%/-$'!"%2-)0!(7",!)&,)&20!*1!0:0%(,!",!%*(!-%20$,(**25! _*40:0$8!(70!9&$&2";.!*1!"%/-$'!1$*.!(70!4*$<!*1!`3&7$8!K*$$",,0'!&%2!N70:&3"0$! 7";73";7(,!&!)0%($&3!$*30!*1!(70!$0%"%F&%;"*(0%,"%!,',(0.!ZAMC[!"%!+$"2;"%;!(7",! ;&9!ZXd8VVb8VbdFVYV[5!>"(7"%!(70!<"2%0'8!&33!*1!(70!)*.9*%0%(,!*1!(70!AMC!0@",(!(*! 1&)"3"(&(0!&%;"*(0%,"%!9$*2-)("*%5!B*33*4"%;!*+,($-)("*%8!(70!7'2$*2'%&.")!,($0,,0,! ! ba!  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bX[5! C0:0$&3!,(-2"0,!,-99*$(!&!,";%"1")&%(!$*30!1*$!AMC!"%!*+,($-)("*%5!`%*)<*-(!*$! &3(0$&("*%,!"%!)*9'!%-.+0$!*1!(70!&%;"*(0%,"%*;0%!;0%0!7&,!,7*4%!(7&(!-9!(*!YUm! *1!1"+$*,",!",!2090%20%(!*%!&%;"*(0%,"%*;0%!0@9$0,,"*%!ZVbb[5!R",$-9("*%!*1!AMC!+'! "%7"+"(*$,!*1!$0%"%8!&%;"*(0%,"%F)*%:0$("%;!0%D'.08!*$!&%;"*(0%,"%!$0)09(*$,!$0,-3(,! "%!,"."3&$!&((0%-&("*%!*1!9$*1"+$*(")!0:0%(,!"%)3-2"%;!&9*9(*,",8!.&)$*97&;0! "%1"3($&("*%8!=SB"!0@9$0,,"*%8!"%(0$,("("&3!0@9&%,"*%8!&%2!)*33&;0%!209*,"("*%!ZVYbF VYX[5!>7"30!(7",!9&$&2";.!)30&$3'!20.*%,($&(0,!&!3"%<!+0(400%!(70!AMC!,',(0.!&%2! (70!9$*;$0,,"*%!*1!1"+$*,",8!"(!)0%(0$,!*%!)*$(")&3!0:0%(,!1*33*4"%;!*+,($-)("*%!&%2! 9$".&$"3'!20,)$"+0,!(70!$*30!*1!(70!9$*@".&3!)*%:*3-(02!(-+-305!!M!;$0&(0$! -%20$,(&%2"%;!(70!9&(7*;0%0,",!*1!-$"%&$'!($&)(!*+,($-)("*%!4"33!$0\-"$0!&!+$*&20$! "%:0,(";&("*%!*1!*(70$!0:0%(,!(7$*-;7*-(!(70!<"2%0'!2-$"%;!(70!9$*;$0,,"*%!*1! *+,($-)(":0!"%/-$'5! ! ! ,  ! YU!  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N_MG=]A!J! !  LINI  !9=98D67*$QR96?5J9*8KE*-B><?79=9=*  ?%!3";7(!*1!(70!-%20$&99$0)"&(02!1&)(*$,!20,)$"+02!9$0:"*-,3'8!&%2!+&,02!-9*%!(70! ,";%"1")&%(!7",(*9&(7*3*;'!*+,0$:02!"%!(70!.02-33&$'!)*330)("%;!2-)(!1*33*4"%;! *+,($-)("*%!"%!(70!9$".&(0!.*2038!(70!*:0$&$)7"%;!&".,!*1!(7",!(70,",!&$0!(*! )7&$&)(0$"D0!(70!0&$3'!)033-3&$!0:0%(,!1*33*4"%;!-$"%&$'!($&)(!*+,($-)("*%!&%2!(*! 0@93*$0!9-(&(":0!.0)7&%",.,!*1!"%/-$'5! ! 0I,D)/8,+2(,)"(,(),(2+(,(12,>)$$)D%*C,1I<)(12+2+Z! ZV[ )*330)("%;!2-)(!"%/-$'!4"(7!"(,!)*%)*."(&%(!09"(703"&3!)033!$0,9*%,0!",!&%!0&$3'! &%2!,";%"1")&%(!0:0%(!"%!(70!9$*;$0,,"*%!*1!*+,($-)(":0!"%/-$'8!&%2! ZJ[ !.0)7&%*,0%,&("*%!.*2-3&(0,!+*(7!(70!)*330)("%;!2-)(!09"(703"&3!&%2! (-+-3*"%(0$,("("&3!$0,9*%,0!(*!"%/-$'!1*33*4"%;!-$"%&$'!($&)(!*+,($-)("*%5  ! YJ!  N_MG=]A!O!  N:8@9;A#7 $34,!/.,'$(*1(%*,-"*-/#1(*+",1&*G'%("25* NIHI  'K?D<EA6?5<K*  M,!2",)-,,02!"%!N7&9(0$!V8!(70!20:03*9.0%(!*1!(70!<"2%0'!*))-$,!:"&!(70!$0)"9$*)&3! "%(0$&)("*%,!*1!(70!KK!&%2!-$0(0$")!+-25!=70!KK!4"33!0:0%(-&33'!1*$.!(70! ;3*.0$-3&$!&%2!(-+-3&$!)*.9&$(.0%(,!*1!(70!1-%)("*%&3!%097$*%!47"30!(70!-$0(0$")! +-2!0@)3-,":03'!20(0$."%0,!(70!)*330)("%;!2-)(!,',(0.!(7$*-;7!&!9$*)0,,!)&3302! +$&%)7"%;!.*$97*;0%0,",!ZVX8Vd8JJ8VYd[5!B*33*4"%;!+$&%)7"%;8!(70!-$0(0$")!+-2! .&(-$0,!"%(*!(70!2"110$0%("&(02!09"(703"&!*1!(70!)*330)("%;!2-)(8!*))-$$"%;!1"$,(!"%!(70! "%"("&3!.02-33&$'!-$0(0$")!+-2!+$&%)70,!&%2!9$*)002"%;!*-(4&$23'!&,!+$&%)7"%;!&%2! %097$*;0%0,",!*))-$,!"%!(70!)*$(0@5!! ! ?%!(70!0&$3'!;0,(&("*%!10(-,8!-$"%&$'!($&)(!*+,($-)("*%!)&-,0,!&!2",$-9("*%!*1!(70,0! 20:03*9.0%(&3!9$*)0,,0,!9$*2-)"%;!2',93&,(")!<"2%0',5!M3(0$&("*%,!*1!(70!.02-33&$'! &$)7"(0)(-$0!",!&!.&/*$!10&(-$0!*1!*+,($-)("*%8!&%2!",!&,,*)"&(02!4"(7!&!$02-)02! %-.+0$!*1!)*330)("%;!2-)(,!ZaO8aY8ad8aa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hGJ!&%2!+&3&%)"%;!*1!,*2"-.!&%2! 9*(&,,"-.!30:03,!"%!(70!+3**2!&%2!1"3($&(08!47"30!"%(0$)&3&(02!)033,!$0;-3&(0!&)"2F+&,0! 7*.0*,(&,",!ZVYa[5!?%(0$)&3&(02!)033,!)&%!1-$(70$!+0!,-+2":"202!"%(*!('90!M8!('90!L8! &%2!%*%FM!%*%FL!)033,!(7&(!&$0!"20%("1"&+30!+'!(70!0@9$0,,"*%!*1!($&%,9*$(0$!9$*(0"%,! ZB";-$0!O5V[5!H&)-*3&$!_j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b8VXY[5!=7",!9-(&(":0! 93-$"9*(0%)'!$&",0,!(70!9*,,"+"3"('!(7&(!(70,0!,-+('90,!.&'!+0!$0,9*%,"+30!1*$! )*330)("%;!2-)(!09"(703"&3!$0%04&3!&%2e*$!(70!&2&9(":0!$0,9*%,0!(*!"%/-$'5!! ! ! YI!  !"#$%&'(0(  !"#$%&'6)(*''I</>>"J1/K9.'9D'L.2&%1/</2&5'I&<<>)'T$-%"6141-%*&6%440&1$*&-.%#"&'3$67($144,& 02%6#I6& 03+-,2%0& 1"%& #*%$7I1+4%& +,& -.%#"& %<2"%00#($& ('& -"1$02("-& 2"(-%#$0& #$643*#$8& -.%& .,*"(8%$& #($& -"1$02("-%"& 5@>A10%?& 1))($#3)& -"1$02("-%"& :.BU?& 1$*& -.%& 6.4("#*%V+#61"+($1-%&%<6.1$8%"0&2%$*"#$&1$*&1$#($&%<6.1$8%"&W&Q@LWR9& :%2"#$-%*&'"()& G0,"<.)<,7'H<Q+<U<V,)!*7'<:K>K<M.CW<>LBX:YH<BAK8L'<<  12(  N_MG=]A!O! ,  >7"30!(70!&2-3(!2",($"+-("*%!*1!"%(0$)&3&(02!)033,!",!<%*4%!&)$*,,!.&%'!,90)"0,! "%)3-2"%;!7-.&%!ZVXV8VXXFVdU[8!.*,(!*1!*-$!<%*4302;0!*1!10(&3!<"2%0'!"%(0$)&3&(02! )033!20:03*9.0%(!20$":0,!1$*.!,(-2"0,!"%!$*20%(,!ZVdVFVdO[5!#%3"<0!7-.&%! %097$*;0%0,",8!47")7!",!)*.930(02!3429/<608!$0%&3!20:03*9.0%(!"%!(70!$*20%(! )*%("%-0,!"%(*!(70!0&$3'!9*,(%&(&3!90$"*25!?%!(70!.*-,0!&%2!$&(8!"..&(-$0! "%(0$)&3&(02!)033,!1"$,(!&990&$!"%!(70!.02-33&$'!)*330)("%;!2-)(!&%2!)*%%0)("%;!(-+-30! 0&$3'!"%!<"2%0'!20:03*9.0%(!Z0.+$'*%")!2&'!VU5b!F!VV5U[!4"(7!('90!M!)033,!+0"%;!(70! 1"$,(!2"110$0%("&(02!,-+('90!(*!&990&$8!&%2!('90!L!&%2!%*%FM!%*%FL!)033,!0.0$;"%;! %0&$!(70!0%2!*1!10(&3!;0,(&("*%!Z0.+$'*%")!2&'!JV[5!61!%*(08!"%(0$)&3&(02!)033,!&$0!%*(! *+,0$:02!"%!(70!$*20%(!)*$(")&3!)*330)("%;!2-)(!&(!&%'!10(&3!&;08!&%2!"(!7&,!+00%! ,-;;0,(02!(7&(!(70!"%(0$)&3&(02!)033,!*1!(70!-$0(0$")!+-2F20$":02!.02-33&$'!)*330)("%;! 2-)(!&%2!.0(&%097$")!.0,0%)7'.0F20$":02!)*%%0)("%;!(-+-30!.&'!&$",0! "%2090%20%(3'!ZVd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N_MG=]A!O!  NILI  !9=A:?=*  #"-"!" :9)()8'2(%S)'%*+,*C,E+'2(8)&)'25,:2&&3, ?%!(70!&2-3(!<"2%0'8!"%(0$)&3&(02!)033!,-+('90,!)&%!+0!$0&2"3'!"20%("1"02!+'!(70"$! 0@9$0,,"*%!*1!:&$"*-,!($&%,9*$(0$!9$*(0"%,!"%)3-2"%;!:M=G&,08!A7NS8!&%"*%! 0@)7&%;0$!V!&%2!90%2$"%5!_*40:0$8!(70!7-.&%!10(&3!<"2%0',!,(-2"02!0@9$0,,02! (70,0!9$*(0"%,!&(!2"110$"%;!,(&;0,!*1!20:03*9.0%(5!:M=G&,0!4&,!9$0,0%(!"%!&33! "%(0$)&3&(02!)033,!&%2!4&,!*+,0$:02!&,!0&$3'!&,!d!400<,!;0,(&("*%!Z%*(!,7*4%[5! R"11-,0!A7NS!0@9$0,,"*%!4&,!1"$,(!*+,0$:02!"%!",*3&(02!)*330)("%;!2-)(!)033,!*1!(70!Vd! 400<!;0,(&("*%!<"2%0'8!+-(!2",93&'02!7";7!+&)<;$*-%2!"..-%*$0&)(":"('!"%!<"2%0',! *1!Vd!400<,!;0,(&("*%!*$!30,,5!C"."3&$3'8!%0"(70$!90%2$"%!%*$!&%"*%!0@)7&%;0$!V! 0@9$0,,"*%!4&,!*+,0$:02!9$"*$!(*!JY!400<,!;0,(&("*%5!=70!2",9&$&(0!0@9$0,,"*%!*1! (70,0!1-%)("*%&3!"%(0$)&3&(02!)033!9$*(0"%,!&(!0&$3'!;0,(&("*%&3!&;0,!".9020,!(70! &+"3"('!(*!"20%("1'!&%2!)3&,,"1'!"%(0$)&3&(02!)033,!"%(*!(70"$!)3&,,")&3!,-+('90,!Z%&.03'! ('90!M8!('90!L!&%2!%*%FM!%*%FL[!&%2!,-;;0,(,!(7&(!.&%'!*1!(70!"%(0$)&3&(02!)033,! *+,0$:02!"%!(70!0&$3'!;0,(&("*%!<"2%0'!7&:0!&%!-%2"110$0%("&(02!*$!"..&(-$0! 970%*('905!B*$!(70!9-$9*,0!*1!(7",!,(-2'8!"%(0$)&3&(02!)033,!&$0!)3&,,"1"02!"%(*! ,90)"1")!,-+('90,!+&,02!,($")(3'!-9*%!(70!0@9$0,,"*%!*1!(70!*+3";&(0!($&%,9*$(0$,! 20,)$"+02!&+*:0!ZB";-$0!O5V[5!M%"*%!0@)7&%;0$!V!4&,!1*-%2!(*!3*)&3"D0!4"(7!A7NS! 0@9$0,,"*%!"%!('90!M!"%(0$)&3&(02!)033,!&%2!%*(!"%!%*%FM!%*%FL!)033,8!&%2!4&,! (70$01*$0!%*(!"%)3-202!"%!,-+,0\-0%(!)7&$&)(0$"D&("*%!*1!(70,0!)033,5!  ! YX!  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N_MG=]A!O! , #"-"-" .92,6)(&@,T23')'%*+,$2')&,D%5+2@, L&,02!*%!(70"$!0@9$0,,"*%!*1!:M=G&,08!"%(0$)&3&(02!)033,!40$0!1"$,(!*+,0$:02!"%!(70! 0&$3'!.02-33&$'!+$&%)70,!*1!(70!-$0(0$")!2-)(!*1!7-.&%!10(&3!<"2%0',!,(-2"02!&(!d! 400<,!;0,(&("*%!Z%*(!,7*4%[8!&%2!)*%,("(-(02!V5Ym!*1!)*330)("%;!2-)(!)033,!"%!(7",! ,0;.0%(!+'!VU!400<,!;0,(&("*%!ZB";-$0,!O5J!&%2!O5O[5!?%!Vd!400<!;0,(&("*%!<"2%0',8! "%(0$)&3&(02!)033,!40$0!9$0,0%(!"%!(70!"%%0$!.02-33&$'!)*330)("%;!2-)(!&%2!*-(0$! .02-33&$'!)*330)("%;!2-)(!&(!&99$*@".&(03'!0\-&3!&+-%2&%)0!ZO5bm!&%2!O5am!*1! )*330)("%;!2-)(!)033,!$0,90)(":03'[5!L&,02!-9*%!(70!3&)<!*1!90%2$"%!0@9$0,,"*%8!(70! .&/*$"('!*1!"%(0$)&3&(02!)033,!&$0!)3&,,"1"02!&,!"..&(-$0!"%(0$)&3&(02!)033,!4"(7!&! ,.&33!1$&)("*%!*1!('90!M!"%(0$)&3&(02!)033,!9$0,0%(!ZVb5Im!&%2!O5Xm!1*$!(70!"%%0$!&%2! *-(0$!.02-33&0!$0,90)(":03'[!Z=&+30!O5V[5!?%!(70!.02-33&$'!$&',!*1!(70!"%%0$!)*$(0@8! *%3'!"..&(-$0!"%(0$)&3&(02!)033,!ZV5am!*1!)*330)("%;!2-)(!)033,[!40$0!*+,0$:02!47"30! %*!"%(0$)&3&(02!)033,!40$0!*+,0$:02!"%!(70!*-(0$!)*$(0@!*$!%097$*;0%")!D*%05!! #"-"#" .92,F%5,)+5,=)'2,T23')'%*+,$2')&,D%5+2@, M,!"%!(70!0&$3'!;0,(&("*%!<"2%0'8!(70!"%(0$)&3&(02!)033,!*1!(70!."2!;0,(&("*%!JY!400<! 7-.&%!<"2%0'!40$0!2",($"+-(02!1$*.!(70!"%%0$!.02-33&!(*!"%%0$!)*$(0@!ZB";-$0,!O5O8! &%2!O5I[5!_*40:0$8!"%!(70!"%%0$!.02-33&$'!)*330)("%;!2-)(8!(70!$03&(":0!%-.+0$!*1! "%(0$)&3&(02!)033,!"%)$0&,02!)*.9&$02!(*!0&$3"0$!;0,(&("*%!<"2%0',!Zd5dm!*1! )*330)("%;!2-)(!)033,[!4"(7!('90!M!)033,!9$02*."%&("%;!ZaY5Jm!*1!"%(0$)&3&(02!)033,[! Z=&+30!O5V[5!?%!(70!*-(0$!.02-33&$'!)*330)("%;!2-)(8!"%(0$)&3&(02!)033,!)*%,("(-(02! O5Om!*1!(70!)*330)("%;!2-)(!09"(703"-.!4"(7!('90!M!"%(0$)&3&(02!)033,!$09$0,0%("%;!  ! Ya!  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N_MG=]A!O! ,  bI5Im!*1!"%(0$)&3&(02!)033,5!?%!(70!)*$(")&3!)*330)("%;!2-)(8!"%(0$)&3&(02!)033,!&$0!30,,! &+-%2&%(!ZV5Im!*1!)*330)("%;!2-)(!)033,[!4"(7!('90!M!"%(0$)&3&(02!)033,!)*%("%-"%;!(*! 9$02*."%&(0!ZIO5am!*1!"%(0$)&3&(02!)033,[8!&%2!%*%FM!%*%FL8!('90!L8!&%2!"..&(-$0! "%(0$)&3&(02!)033,!)*.9$","%;!OI5J8!VU5Y!&%2!VV5Om!*1!"%(0$)&3&(02!)033,!$0,90)(":03'5! ?%(0$)&3&(02!)033,!40$0!&+,0%(!1$*.!(70!%097$*;0%")!D*%0!*1!(70!)*$(0@5!! ! ?%!(70!OY!400<!;0,(&("*%!7-.&%!10(&3!<"2%0'8!(70!&+-%2&%)0!*1!"%(0$)&3&(02!)033,!&%2! (70"$!,-+('90,!"%!(70!"%%0$!&%2!*-(0$!.02-33&0!4&,!1*-%2!(*!+0!,"."3&$!(*!(7&(!*1!(70! ."2!;0,(&("*%!<"2%0'!ZB";-$0!O5O!&%2!O5I[5!>7"30!(70!9$*9*$("*%!*1!='90!M! "%(0$)&3&(02!)033,!(70!"%%0$!.02-33&$'!)*330)("%;!2-)(!$0.&"%02!,"."3&$!(*!(70!."2! ;0,(&("*%!<"2%0'!ZaX5Vm!*1!"%(0$)&3&(02!)033,[8!(70!&+-%2&%)0!*1!('90!M!"%(0$)&3&(02! )033,!"%!(70!*-(0$!.02-33&$'!)*330)("%;!2-)(!"%)$0&,02!(*!Xd5Im!*1!"%(0$)&3&(02!)033,5! ?%!(70!)*$(")&3!)*330)("%;!2-)(8!47")7!",!.*$0!20:03*902!(7&%!9$0:"*-,!;0,(&("*%,!+-(! 7&,!%*(!'0(!1-33'!2"110$0%("&(028!(70!1$&)("*%!*1!('90!M!"%(0$)&3&(02!)033,!$0.&"%02! -%)7&%;02!7*40:0$!(70!(*(&3!%-.+0$!*1!"%(0$)&3&(02!)033,!2*-+302!(*!O5Om!*1! )*330)("%;!2-)(!)033,5!#%1*$(-%&(03'8!('90!L!*$!%*%FM!%*%FL!"%(0$)&3&(02!)033,!)*-32! %*(!+0!*+,0$:02!"%!(70!%*$.&3!OY!400<!)*330)("%;!2-)(5!=7",!4&,!2-0!(*!&!3&)<!*1! 90%2$"%!,(&"%"%;8!&%2!3"<03'!$0,-3(,!1$*.!",,-0,!4"(7!(",,-0!9$*)0,,"%;!*1!(70!3"."(02! ,&.930,!&:&"3&+308!$&(70$!(7&%!&%!&+,0%)0!*1!(70!"%(0$)&3&(02!)033,!*$!&!3&)<!*1! ,0%,"(":"('!*1!(70!90%2$"%!&%("+*2'5! !  ! XJ!  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N_MG=]A!O! ! #"-"A" .92,B*3'+)')&,D%5+2@, ?%!(70!9*,(%&(&3!7-.&%!<"2%0'8!(70!2",($"+-("*%!*1!"%(0$)&3&(02!)033,!)7&%;02! 2$&.&(")&33'!)*.9&$02!(*!(70!10(&3!<"2%0'8!&%2!7&,!2"110$0%("&(02!(*!$0,0.+30!(7&(!*1! (70!&2-3(!)*330)("%;!2-)(5!M,!"%!(70!&2-3(!<"2%0',!*1!.*,(!,90)"0,8!"%(0$)&3&(02!)033,! 40$0!$&$0!"%!(70!"%%0$!9*$("*%,!*1!(70!"%%0$!.02-33&!ZB";-$0!O5O!&%2!O5b[5! =7$*-;7*-(!(70!*-(0$!.02-33&8!&%2!)*.9&$02!(*!(70!OY!400<!;0,(&("*%!<"2%0',8!(70! "%(0$)&3&(02!)033!9*9-3&("*%!%0&$3'!($"9302!(*!VV5Um!*1!)*330)("%;!2-)(!)033,!4"(7!('90! M!"%(0$)&3&(02!)033,!)*.9$","%;!XUm!*1!"%(0$)&3&(02!)033,!Z=&+30!O5V[5!C-$9$","%;3'8! ('90!L!*$!%*%FM!%*%FL!"%(0$)&3&(02!)033,!&$0!%*(!*+,0$:025!M,!0@90)(028!(70!.*,(! ,";%"1")&%(!)7&%;0!"%!"%(0$)&3&(02!)033!&+-%2&%)0!"%!(70!9*,(%&(&3!<"2%0'!*))-$$02!"%! (70!)*$(")&3!)*330)("%;!2-)(5!?%!(7",!,0;.0%(8!(70!(*(&3!%-.+0$!*1!"%(0$)&3&(02!)033,! "%)$0&,02!&3.*,(!VUF1*32!(*!OJ5dm!*1!)*330)("%;!2-)(!)033,5!?(!",!&(!(7",!(".0!9*"%(!(7&(! (70!90%2$"%F9*,"(":0!('90!L!&%2!%*%FM!%*%FL,!"%(0$)&3&(02!)033,!+0)*.0!(70!.*,(! &+-%2&%(!2"110$0%("&(02!"%(0$)&3&(02!)033,!ZJa5I!&%2!d5am!*1!"%(0$)&3&(02!)033,! $0,90)(":03'[!47"30!(70!9$*9*$("*%!*1!2"110$0%("&(02!('90!M!"%(0$)&3&(02!)033,! 20)$0&,02!ZY5am!*1!"%(0$)&3&(02!)033,[5!C-$9$","%;3'8!&!3&$;0!9$*9*$("*%!*1! "%(0$)&3&(02!)033,!$0(&"%02!&%!"..&(-$0!970%*('90!ZbI5dm!*1!"%(0$)&3&(02!)033,[8! "%2")&("%;!(7&(!(70!9*,(%&(&3!$0.*203"%;!*1!(70!)*330)("%;!2-)(!09"(703"-.!4&,!,("33!"%! 9$*;$0,,!*%0!'0&$!&1(0$!+"$(75!! #"-"K" .92,:*++28'%+;,./0/&2, =70!)*%%0)("%;!(-+-30!",!&!-%"\-0!,0;.0%(!*1!(70!%097$*%!"%(0$.02"&$'!(*!(70! .0(&%097$")!.0,0%)7'.0F20$":02!2",(&3!)*%:*3-(02!(-+-30!&%2!(70!-$0(0$")!+-2F! ! XI!  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`%"?& 10& *%2#6-%*& #$& QLR9& F),03($< 2.=< Z< 1Q[V,(.H< 42..3<Z<P!ROH<C76.<Z<NQVJ'<F/,7.<S,2($<Q<,3=<S<Z<:?\+H<R<,3=<N<Z<?K\+'<:%2"#$-%*&'"()& G0,"<.)<,7'H<Q+<U<V,)!*7'<:K>K<M.CW<>LBX:YH<BAK8L'<&  +1(  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d!400<,!;0,(&("*%!&%2!*320$8!(70!)*%%0)("%;!(-+-30! )*-32!+0!2",("%;-",702!1$*.!2",(&3!)*%:*3-(02!(-+-30!Z0@9$0,,"%;!&9")&3!:M=G&,0! &%2!,($*%;!.0.+$&%*-,!A7NS[!+'!(70!&990&$&%)0!*1!201"%02!&%2!&+-%2&%(! "%(0$)&3&(02!)033,5!M,!(70!)*%%0)("%;!(-+-30!%0&$,!"(,!9*"%(!*1!"%(0$,0)("*%!4"(7!(70! )*$(")&3!)*330)("%;!2-)(8!"%(0$)&3&(02!)033,!90$,",(8!47"30!(70!0@9$0,,"*%!*1!:M=G&,0! &%2!A7NS!"%!%*%F"%(0$)&3&(02!)033,!1&20,8!,"."3&$!(*!(7&(!*+,0$:02!"%!(70!)*330)("%;! 2-)(5! #"-"U" .92,N03'(/8'25,V/H)+,$2')&,D%5+2@3, !6+,0$:02!)*330)("%;!2-)(,!1$*.!*+,($-)(02!Vd!400<!;0,(&("*%!<"2%0',!0@7"+"(02!&%!  "%)$0&,0!"%!"%(0$)&3&(02!)033!1$&)("*%!90$!2-)(!(*!Y5Um!*1!)*330)("%;!2-)(!)033,!1$*.! O5am!"%!&;0F.&()702!)*%($*3!Z=&+30!O5J[5!?%!0&$3'!<"2%0',!&%2!"%!.02-33&$'! )*330)("%;!2-)(,!4"(7!."32!(*!.*20$&(0!2"3&(&("*%8!(70,0!2-)(,!&3,*!0@7"+"(02!&%! "%)$0&,02!9$*9*$("*%!*1!2"110$0%("&(02!"%(0$)&3&(02!)033,!ZB";-$0!O5X[!0@9$0,,"%;! A7NS!&%2!90%2$"%!"..-%*$0&)(":"('8!"%!)*%($&,(!(*!&;0F.&()702!)*%($*3,5!?%! &22"("*%!(*!&%!"%)$0&,0!"%!('90!M!)033,!ZOO5Vm!*1!"%(0$)&3&(02!)033,!:0$,-,!d5Im!"%!!  ! XX!  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N_MG=]A!O! &;0F.&()702!)*%($*3[8!(70,0!$0,-3(,!20.*%,($&(0!(70!%*:03!9$0,0%)0!*1!.02-33&$'! ('90!L!ZJOm!*1!"%(0$)&3&(02!)033,[!&%2!%*%FM!%*%FL!"%(0$)&3&(02!)033,!!ZX5Um[!(7&(! 40$0!%*(!*+,0$:02!"%!(70!%*$.&3!10(&3!.02-33&$'!)*330)("%;!2-)(,!&(!&%'!10(&3!&;05! =70,0!$0,-3(,!,-;;0,(!&%!&))030$&(02!2"110$0%("&("*%!*1!(70!.02-33&$'!)*330)("%;!2-)(! "%!$0,9*%,0!(*!-$"%&$'!($&)(!*+,($-)("*%5!! ! 6:0$&338!*+,($-)(02!<"2%0',!,(-2"02!&(!OY!400<,!;0,(&("*%!&3,*!,7*402!&%!"%)$0&,02! 1$&)("*%!*1!(*(&3!"%(0$)&3&(02!)033,!470%!)*.9&$02!(*!)*%($*3,8!,"."3&$!(*!(7&(!,00%!"%! (70!0&$3'!;0,(&("*%!<"2%0',!ZVU5dm!*1!)*330)("%;!2-)(!)033,!:0$,-,!b5Xm!"%!&;0F .&()702!)*%($*3[!Z=&+30!O5J8!B";-$0!O5d[5!>7"30!(70!.&/*$"('!*1!.02-33&$'! "%(0$)&3&(02!)033,!$0.&"%02!('90!M!"%(0$)&3&(02!)033,!ZYd5dm!*1!"%(0$)&3&(02!)033,[8! (7",!"%)$0&,0!"%!(*(&3!"%(0$)&3&(02!)033,!4&,!&3,*!&))*.9&%"02!+'!&%!-%0@90)(02! 9$0,0%)0!*1!2"110$0%("&(02!('90!L!Zb5Vm!*1!"%(0$)&3&(02!)033,[!&%2!%*%FM!%*%FL!)033,! ZX5Vm!*1!"%(0$)&3&(02!)033,[!"%!(70!.02-33&$'!)*330)("%;!2-)(5!_*40:0$8!3&(0!;0,(&("*%! <"2%0',!2",93&'02!70(0$*;0%0*-,!7",(*9&(7*3*;'!$&%;"%;!1$*.!."32!(*!,0:0$0! "%/-$'W!,0:0$0!"%/-$'!"%)3-202!"%)$0&,02!(-+-3&$!2"3&(&("*%!&%2!"%(0$,("("&3!0@9&%,"*%8! 4"(7!&3(0$02!)033-3&$!.*$97*3*;'!&%2!90$"(-+-3&$!)*33&$!1*$.&("*%8!&,!9$0:"*-,3'! 20,)$"+02!ZJ[5!?%!(7",!,(-2'8!"%(0$)&3&(02!)033!1$&)("*%!:&$"02!"%:0$,03'!4"(7!(70! 20;$00!*1!2-)(!2"3&(&("*%8!&!\-&%("1"&+30!,-$$*;&(0!.0&,-$0!*1!"%/-$'!ZB";-$0!O5d[5! ! ?%!(70!)*%;0%"(&33'!*+,($-)(02!<"2%0',!,(-2"02!9*,(%&(&33'8!"%(0$)&3&(02!)033,!40$0! 30,,!&+-%2&%(!"%!(70!*-(0$!.02-33&$'!)*330)("%;!2-)(!(7&%!"%!&;0F.&()702!)*%($*3,!!  ! dU!  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aaR9<F),03($<2.=<Z<1Q[V,(.H<42..3<Z<P!ROH<C76.<Z<NQVJ'<F/,7.<S,2($<Q<Z<:KK\+H<S< )!2*64!<R<Z<>KK\+'<:%2"#$-%*&'"()&G0,"<.)<,7'H<Q+<U<V,)!*7'<:K>K<M.CW<>LBX:YH<BAK8L'<& .)(  N_MG=]A!O! ZO5dm!*1!)*330)("%;!2-)(!)033,!:0$,-,!VU5Xm!"%!&;0F.&()702!)*%($*3[!Z=&+30!O5J[5!M,! "%!*+,($-)(02!<"2%0',!,(-2"02!2-$"%;!10(&3!;0,(&("*%8!,*.0!."323'!&110)(02!)*330)("%;! 2-)(,!0@7"+"(02!"%)$0&,02!"%(0$)&3&(02!)033!&+-%2&%)0!47"30!2"3&(02!)*330)("%;!2-)(,! 0@7"+"(02!&!20930("*%!*1!"%(0$)&3&(02!)033,!ZB";-$0!O5a[5!M,!4"(7!(70!%*$.&3!9*,(%&(&3! <"2%0'8!2"110$0%("&(02!('90!M!"%(0$)&3&(02!)033,!40$0!9$02*."%&%(!"%!(70!.02-33&$'! )*330)("%;!2-)(!ZXU5dm!*1!"%(0$)&3&(02!)033,!:0$,-,!XU5Jm!"%!&;0F.&()702!)*%($*3[8! 47"30!$&$0!('90!L!"%(0$)&3&(02!)033,!ZV5Um!*1!"%(0$)&3&(02!)033,[!40$0!*+,0$:02!"%!(70! .02-33&$'!)*330)("%;!2-)(!20,9"(0!+0"%;!&+,0%(!1$*.!(70!%*$.&3!9*,(%&(&3!<"2%0'5! B-$(70$.*$08!(70!0@9$0,,"*%!*1!MhGJ!4&,!&3,*!2",$-9(02!"%!.*$0!,0:0$03'!"%/-$028! 2"3&(02!)*330)("%;!2-)(,!"%2")&("%;!(7&(!"%!&22"("*%!(*!"%(0$)&3&(02!)033!20930("*%8! (70,0!2-)(,!&3,*!20.*%,($&(0!&!3*,,!*1!9$"%)"9&3!)033!1-%)("*%5!  NINI  %5=6A==5<K*  >7"30!10(&3!-$"%&$'!($&)(!*+,($-)("*%!7&,!+00%!,(-2"02!"%!&!%-.+0$!*1!0@90$".0%(&3! .*203,!ZaO8ad8aa8VUJ8VUX8VdIFVd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dJ!  !"#$%&'(0(  !"#$%&'6)T*'L.2&%1/</2&5'I&<<>'".'2,&'P9>2./2/<'RO>2%$12&5'!&2/<'4"5.&0)'@0&=#-.&-.%&^]& =%%/&/#*$%,?&0()%&)#4*4,&1H%6-%*&6(44%67$8&*36-0&#$&-.%&(+0-"36-%*&2(0-$1-14&/#*$%,& *#0241,%*& 1+3$*1$-& #$-%"6141-%*& 6%440& Q1""(=0& #$& @?& )18$#I%*& #$& GR& =.#4%& )("%& 0%5%"%4,& 1H%6-%*?& *#41-%*& 6(44%67$8& *36-0& %<.#+#-%*& 1& *%24%7($& ('& #$-%"6141-%*& 6%440& Q10-%"#0/0& #$& @?& )18$#I%*& #$& BR9& B(""%02($*#$84,?& *#41-%*& 6(44%67$8& *36-0& %<.#+#7$8& #$-%"6141-%*& 6%44& *%24%7($& Q1""(=.%1*0R& 140(& *%)($0-"1-%*& 1& 0#8$#I61$-& *%6"%10%& #$& @bA\&%<2"%00#($&6()21"%*&=#-.&)#4*4,&1H%6-%*&6(44%67$8&*36-0&Q,22*&R9&F),03($<2.=<Z< 1Q[V,(.H<42..3<Z<P!RO<X;*2<M0462.(<Q8RYH<42..38<Q_V:<X;*2<M0462.<NYH<C76.<Z<NQVJ'<F/,7.< S,2($<Q<Z<:KK\+H<S<)!2*64!<N<Z<>KK\+'<:%2"#$-%*&'"()&G0,"<.)<,7'H<Q+<U<V,)!*7'<:K>K<M.CW<>LB X:YH<BAK8L'<&  .0(  N_MG=]A!O! ,  R-$"%;!%*$.&3!7-.&%!%097$*;0%0,",8!,9&("&3!&%2!(0.9*$&3!)7&%;0,!)&%!+0! *+,0$:02!+*(7!"%!(70!2",($"+-("*%!*1!"%(0$)&3&(02!)033,8!&%2!"%!(70"$!2"110$0%("&("*%! "%(*!.&(-$0!,-+('90,5!?%(0$)&3&(02!)033,!1"$,(!&990&$!"%!(70!"%%0$!.02-33&!&(!d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dU[5!C-$9$","%;3'8!&!3&$;0!9$*9*$("*%!*1!(70,0!%043'!&)\-"$02!)*$(")&3! "%(0$)&3&(02!)033,!&990&$!(*!0@7"+"(!&%!-%2"110$0%("&(02!*$!"..&(-$0!970%*('908! ,-;;0,("%;!(7&(!0:0%!&(!*%0!'0&$!&1(0$!+"$(7!(70!$0%&3!)*330)("%;!2-)(!,',(0.! )*%("%-0,!(*!-%20$;*!,";%"1")&%(!$0.*203"%;5! ! ! dI!  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d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ddFVa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db!  N_MG=]A!O! 20)$0&,0!"%!)*330)("%;!2-)(!.&,,!1*33*4"%;!*+,($-)("*%!Zad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dY!  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hGJ!"%!(70!9$"%)"9&3!)033,!)*%,("(-("%;!(70! $0.&"%"%;!)*330)("%;!2-)(!9*9-3&("*%!7";73";7(,!&!;0%0$&3!9&((0$%!*1!09"(703"&3! 202"110$0%("&("*%8!47")7!".9&"$,!)*330)("%;!2-)(!1-%)("*%!&%2!.&'8!&,!0@&."%02!"%! (70!%0@(!)7&9(0$8!$09$0,0%(!&%!&2&9(":0!$0,9*%,0!*1!(70!09"(703"-.!(*!."(";&(0! )033-3&$!"%/-$'5!  ! dX!  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aJ8ad8aa[5!=70,0!,(-2"0,!7&:0!7";73";7(02!(70! !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! O!=7",!)7&9(0$!",!+&,02!*%!4*$<!9-+3",702!-%20$!.'!9$0:"*-,!,-$%&.05!5"((,)&! *+,:,`"2%0'!?%(8!JUUXW!XVZJ[8!aOYFaII5! ! ! dd!  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bU!2&',!;0,(&("*%!&%2!*1!,"."3&$3'!&;02!)*%($*3!<"2%0',5!M,!"%! 9$0:"*-,!$09*$(,!Zaa[8!-%"3&(0$&3!*+,($-)("*%!4"(7!&3;"%&(0!+0&2,!&(!XU!2&',! ;0,(&("*%!,-))0,,1-33'!"%2-)02!$0%&3!2',93&,"&8!4"(7!2",(*$("*%!*1!(70!$0%&3! &$)7"(0)(-$08!"%)3-2"%;!&3(0$02!;3*.0$-3&$!20:03*9.0%(!4"(7!&!20)$0&,0!"%! ;3*.0$-3&$!%-.+0$!&%2!(70!20:03*9.0%(!*1!;3*.0$-3&$!)',(,5!?%!9&$(")-3&$8!40! *+,0$:02!2"3&(&("*%!&%2!)',(")!($&%,1*$.&("*%!*1!.02-33&$'!)*330)("%;!2-)(,8!(70! 1*$.&("*%!*1!90$"(-+-3&$!,.**(7!.-,)30!)*33&$,8!&%2!(70!0@9&%,"*%!*1!(70!.02-33&$'! ! da!  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hGJ!"%!&!.&/*$"('!*1!)033,!ZB";-$0! I5O[!ZVY8VaJ[5!=7",!3&(0!;0,(&("*%!)*330)("%;!2-)(!09"(703"-.!0@9$0,,0,!(70!0@90)(02! +&,*3&(0$&3!&270$0%,!/-%)("*%!9$*(0"%!]FN&2!&%2!(70!&9")&3!,($-)(-$&3!9$*(0"%! )'(*<0$&("%8!)7&$&)(0$",(")!*1!&!2"110$0%("&(02!09"(703"&3!)033!3&'0$5!Q*(&+3'8!&%2!&,! 0@90)(028!(70!09"(703"&!*1!%*$.&3!-%*+,($-)(02!)*330)("%;!2-)(,!2"2!%*(!,7*4!&%'! 0:"20%)0!*1!H?K!"..-%*$0&)(":"('5!_*40:0$8!&%2!&(!:&$"&%)0!4"(7!9$0:"*-,!$09*$(,! "%!&2-3(!7-.&%!<"2%0'!+"*9,'!,90)".0%,!ZVaO[!&%2!9*,(%&(&3!.*-,0!<"2%0',8!40!  ! aU!  !"#$%&'()(  !"#$%&' !"#$%"&'  A.!  (%)*++,'  ()*$%+,$-.'  !"#$%"&'  ()*$%+,$-.'  g d  d  DAPI  g d g  !SMA d  B.! E-Cad  C.! g  *  d g  Vim  d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Relative mRNA Levels!  !"#$%&'()(  !"#$%&'  *!  1.5! 1.0! 0.5! 0! TGF"-1!  E-Cad! Control!  Contralateral!  Relative mRNA Levels!  (%)*++,'  VIM! Obstructed!  *!  1.5! 1.0!  *  0.5! 0! E-Cad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N_MG=]A!I! "20%("1"02!)033,!"%!(70!)*330)("%;!2-)(,!*1!)*%($*3!<"2%0',!(7&(!0@7"+"(02!2"11-,0!uCKM! "..-%*$0&)(":"('!(7&(8!(*!*-$!<%*4302;08!7&:0!%*(!+00%!*+,0$:02!"%!%*$.&38! 9*,(%&(&3!<"2%0',5!=7",!4&,!-%0@90)(02!&%2!,-$9$","%;!,"%)0!uCKM!0@9$0,,"*%! ".93"0,!&!.0,0%)7'.&3!*$!30,,!2"110$0%("&(02!970%*('905!=7",!uCKM!0@9$0,,"*%! )*3*)&3"D02!4"(7!(70!0@9$0,,"*%!*1!(70!"%(0$)&3&(02!)033!.&$<0$8!)&$+*%")!&%7'2$&,0! ??!ZNM!??[!ZVaI8Vab[8!&%2!4&,!.-(-&33'!0@)3-,":0!4"(7!Mh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uCKMF9*,"(":0!)033,!$&%;"%;!1$*.!3*)&3"D02! 0@9$0,,"*%!&2/&)0%(!(*!*%0!*$!(4*!)*330)("%;!2-)(!09"(703"&3!)033,!(7$*-;7!(*!(70! 1*$.&("*%!*1!20%,0!90$"(-+-3&$!)*33&$,!1-33'!,-$$*-%2"%;!(70!2-)(!ZB";-$0!I5I[5! ='9")&33'8!(7*-;7!%*(!0@)3-,":03'8!.*$0!,0:0$03'!2"3&(02!2-)(,!0@7"+"(02!.*$0!1-33'! 20:03*902!90$"(-+-3&$!)*33&$,5!C"%)0!(7",!4&,!(70!.*,(!9$02*."%&%(!&%2!)*%,",(0%(! 10&(-$0!*1!10(&3!-$"%&$'!($&)(!*+,($-)("*%8!40!-,02!(70!20;$00!*1!90$"(-+-3&$!)*33&$,! 1*$.&("*%!(*!)7&$&)(0$"D0!(70!,0:0$"('!*1!)*330)("%;!2-)(!"%/-$'5!  ! aO!  !"#$%&'()(  A.! AQP2 E-Cad  CK Vim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!"#$%&'()(  Mild  Moderate  Severe Vim  !SMA  CK  -./*#%'0103'J%#.$*?*+,#'!"++,#'-"#5,@"6'.6'>?8$#*9$%)'-%$,+'!"++%9@6/'I*9$1' ()*$%+,:"#'">'$6-'>-$9&'B5.#-A'%-*+&$*'5#',"&&-,:#='.+,$'5#[+%A'$69$',9#')-',&9**5\-.')A' $6-'-7$-#$'">'2340'5;;+#"%-9,:S5$A'5#'$6-'8-%5$+)+&9%',-&&+&9%',"&&9%*<'%9#=5#='>%";' ];5&.^'?5$6'&5;5$-.'8-%5$+)+&9%'2340'5;;+#"%-9,:S5$A'/9%%"?6-9.1<'$"']*-S-%-^'?5$6' >+&&<',5%,+;>-%-#:9&',"&&9%*'/9%%"?*1@'3,9&-')9%'K'XP'O;@' Q-8%5#$-.'>%";'!"#$%&$'()*$+,-.%/$ 0.&*$12234$35617*$89:;8<<)$'  *-(  N_MG=]A!I! # A"-"K" =*33,*C,64%'92&%)&,)+5,T)%+,*C,F232+89@H)&,:2&&,F)(X2(3, ?%!)*%/-%)("*%!4"(7!(70!9$*."%0%(!2"3&("*%!*1!)*330)("%;!2-)(,!&%2!&2/&)0%(! 90$"(-+-3&$!)*33&$!1*$.&("*%!*+,0$:02!1*33*4"%;!*+,($-)("*%8!(70,0!<"2%0',!&3,*! 2",93&'02!&!(0.9*$&3!&%2!,9&("&3!,0\-0%)0!*1!970%*('9")!)7&%;0,!(7&(!,-;;0,(,!(70! *))-$$0%)0!*1!09"(703"&3!.0,0%)7'.&3!($&%,"("*%!Z]K=[!ZB";-$0!I5b[5!?%!9&$(")-3&$8! (70!09"(703"&!*1!*+,($-)(02!)*330)("%;!2-)(,!0@7"+"(02!2",$-9("*%!*1!]FN&2!470$0+'! "(,!3*)&3"D&("*%!&(!(70!"%(0$F09"(703"&3!/-%)("*%,!+0)&.0!30,,!2",("%)(!4"(7!&! )*$$0,9*%2"%;!"%)$0&,0!"%!2"11-,0!)'(*93&,.")!"..-%*$0&)(":"('5!B-$(70$.*$08! 3*)&3"D02!$0;"*%,!*1!(70!09"(703"-.!0@7"+"(02!&!)*.930(0!3*,,!*1!]FN&28!9$0,-.&+3'! 7";73";7("%;!,"(0,!*1!&)(":0!]K=5!]@9$0,,"*%!*1!(70!9$"%)"9&3!)033!.&$<0$!MhGJ!&3,*! &990&$,!(*!+0!2*4%!$0;-3&(02!&%2!0@7"+"(,!&3(0$02!)033-3&$!3*)&3"D&("*%!470%! )*.9&$02!(*!+*(7!&2/&)0%(!-%2"3&(02!)*330)("%;!2-)(,!&%2!(70!)*330)("%;!2-)(,!*1! %*$.&3!<"2%0',5!?%!)*%($&,(8!H?K!0@9$0,,"*%8!47")7!",!&+,0%(!1$*.!)*%($*3! 09"(703"-.8!4&,!&)\-"$02!"%!(70!+&,*3&(0$&3!&,90)(!*1!)*330)("%;!2-)(!)033,!&2/&)0%(!(*! (70!1*$.&("*%!*1!90$"(-+-3&$!uCKM!)*33&$,5!=7",!H?K!0@9$0,,"*%!",!,00%!(7$*-;7*-(! (70!*+,($-)(02!)*330)("%;!2-)(!"%!+*(7!MhGJF9*,"(":0!&%2!uCKMjeNM!??j!"%(0$)&3&(02! )033!9*9-3&("*%,!+-(!3"<03'!$09$0,0%(,!2":0$;0%(!$0,9*%,0,!+0(400%!.";$&("%;!&%2! %*%F.";$&("%;!)033,5!E"<0!H?K8!0@9$0,,"*%!*1!1"+$*+3&,(!,90)"1")!9$*(0"%!4&,!."%".&3! "%!(70!)*%($*3!)*330)("%;!2-)(!+-(!.&$<023'!"%)$0&,02!"%!(70!*+,($-)(02!2-)(! 09"(703"-.5!M,!0@90)(028!"%(0$,("("&3!1"+$*+3&,(,!0@9$0,,02!1"+$*+3&,(!,90)"1")!9$*(0"%5! =70,0!$0,-3(,!,-;;0,(!&!3*,,!*1!09"(703"&3!&%2!&!;&"%!*1!.0,0%)7'.&3!)7&$&)(0$",("),! "%!(70!*+,($-)(02!)*330)("%;!2-)(!09"(703"-.5! ! aY!  !"#$%&'()(  Obstructed  Control  A.! E-Cad !SMA Vim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N_MG=]A!I! ,  A"-"U" :2&&,B(*&%C2()'%*+,</(%+;,?(%+)(@,.()8',N03'(/8'%*+, M.*%;!(70!970%*('9")!)7&%;0,!*+,0$:02!4"(7"%!(70!2"3&(02!)*330)("%;!2-)(!09"(703"&8! &%!"%)$0&,0!"%!(70!&+,*3-(0!%-.+0$!*1!09"(703"&3!)033,!4&,!%*(025!=7",!*+,0$:&("*%! ,-;;0,(,!(7&(!9$*3"10$&("*%!.&'!+0!*))-$$"%;!"%!(70,0!)*330)("%;!2-)(,!(*!.&"%(&"%!&%! "%(&)(!09"(703"&3!3&'0$!470%!2"3&("*%!*))-$,5!?..-%*7",(*)70.")&3!,(&"%"%;!1*$!`"F YX8!&!)033!)')30!9$*(0"%!"%2")&("%;!)033!9$*3"10$&("*%!ZVaY[8!$0:0&302!"%)$0&,02!%-)30&$! 0@9$0,,"*%!"%!,030)(02!*+,($-)(02!)*330)("%;!2-)(,!:0$,-,!)*%($*3!,90)".0%,5!=70! 0@9$0,,"*%!*1!`"FYX!"%!(70!)*330)("%;!2-)(!09"(703"-.!4&,!$0,($")(02!(*!(70!MhGJF 9*,"(":0!9$"%)"9&3!)033!9*9-3&("*%!&%2!4&,!%*(!,00%!"%!uCKMjeNM!??j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hGJF9*,"(":0!9$"%)"9&3!)033! 9*9-3&("*%!)*.9$","%;!&99$*@".&(03'!dUm!*1!(70!09"(703"-.5!=70,0!,(-2"0,!"%2")&(0! (7&(!(70!$0.&"%"%;!JUm!*1!(70!10(&3!)*330)("%;!2-)(!",!)*.9*,02!*1!uCKMjeNM!??j! "%(0$)&3&(02!)033,!(7&(!.&'!$09$0,0%(!&%!"..&(-$0!"%(0$)&3&(02!)033!9*9-3&("*%8!&! 9-(&(":0!9*9-3&("*%!*1!)*330)("%;!2-)(!09"(703"&3!9$*;0%"(*$,8!*$!&!)*.+"%&("*%!*1!(70! (4*5!! ! ! ad!  !"#$%&'()(  Obstructed  Control  A.!  DAPI Ki67  B.!  % total CD cells  CA II  2.30% 1.12% 1.10%  *! 1.19%  1.21%  0.08% Epithelial  Interstitial  Total  Ki67 Events  Control  Obstructed  -./*#%' 01N3' J#"+.:%#,@"6' ":' $7%' >?8$#*9$%)' !"++%9@6/' I*9$' EF.$7%+.,+' !%++8' ,6)' O*##"*6).6/'46$%#8@@*51' '/01'W+,&-9%'`5Fab'5;;+#"%-9,:S5$A'5#'*-&-,$-.'")*$%+,$-.' ,"&&-,:#=' .+,$*' *6"?5#=' ,-&&+&9%' 8%"&5>-%9:"#' 5#' 0RUXY' 8%5#,589&' ,-&&*' /9%%"?6-9.*1' 9#.' 8-%5$+)+&9%' 5#$-%*::+;' /9%%"?1' ,";89%-.' $"' ,"#$%"&' ,"&&-,:#=' .+,$*@' /C1' !";89%5*"#' ">' `5abFJQ' 5#' ,"#$%"&' 9#.' ")*$%+,$-.' ,"&&-,:#=' .+,$*' *6"?*' 5#,%-9*-.' #+;)-%' ">' `5ab' YS-' 5#$-%*::9&' ,-&&*' 9.[9,-#$' $"' ;".-%9$-&A' $"' *-S-%-&A' .5&9$-.' ,"&&-,:#='.+,$*<')+$'#"'*5=#5\,9#$'5#,%-9*-'5#'`5ab'YS-',"&&-,:#='.+,$'-85$6-&59&',-&&*@' Q-*+&$*' 9%-' -78%-**-.' 9*' $6-' 8-%,-#$9=-' ">' `5ab' YS-' ,-&&*' 8-%' #+;)-%' ">' -85$6-&59&' ,-&&*',";8%5*5#='$6-',5%,+;>-%-#,-'">'$6-',"&&-,:#='.+,$@'L'8'V'N@NP'S*@',"#$%"&@'3,9&-' )9%'K'XP'O;@'E%%"%')9%*'K'*$9#.9%.'-%%"%'">'$6-';-9#@'W'K'c@' Q-8%5#$-.'>%";'!"#$%&$'()*$ +,-.%/$0.&*$12234$35617*$89:;8<<)$'  **(  N_MG=]A!I! ,  S":0%!(70!-%0@90)(02!0@9$0,,"*%!*1!uCKM8!&%2!(70$01*$0!*1!uCKMjeNM!??j! "%(0$)&3&(02!)033,!"%!(70!)*330)("%;!2-)(!09"(703"-.8!&%2!(*!0@93*$0!(70!9*,,"+"3"('!(7&(! (70,0!)033,!&$0!-%20$;*"%;!]K=8!2"110$0%)0,!"%!(70!%-.+0$,!*1!(7",!,-+9*9-3&("*%!*1! )033,!+0(400%!*+,($-)(02!&%2!)*%($*3!<"2%0',!40$0!)*.9&$025!?.9*$(&%(3'8!"%!(70! *+,($-)(02!2-)(,!*1!(70!%0&$!(0$.!10(&3!<"2%0',!40!*+,0$:02!&!20)$0&,0!"%!(70! %-.+0$!*1!uCKMjeNM!??j!"%(0$)&3&(02!)033!09"(703"&3!)033,!470%!)*.9&$02!(*!+*(7! &2/&)0%(8!-%&110)(02!2-)(,!"%!(70!,&.0!<"2%0'!&%2!(*!2-)(,!*1!)*%($*3!&%2! )*%($&3&(0$&3!<"2%0',!*1!)*.9&$&+30!;0,(&("*%&3!&;05!=7",!4&,!)*%1"$.02!+'!)033! )*-%(,!ZB";-$0!I5X[!47")7!,7*4!(7&(!(70$0!4&,!&!,";%"1")&%(!20930("*%!*1!(7",!)033! 9*9-3&("*%!1$*.!Vd5Jm!(*!&99$*@".&(03'!VJm!"%!."32!&%2!.*20$&(03'!*+,($-)(02! 2-)(,8!&%2!(*!X5dVm!"%!,0:0$03'!&110)(02!2-)(,!4"(7!)*.930(03'!1*$.02!90$"(-+-3&$! )*33&$,5!=7",!20930("*%!4&,!%*(!&,,*)"&(02!4"(7!09"(703"&3!)033!&9*9(*,",8!&,!&,,&'02! +'!(0$."%&3!20*@'%-)30*("2'3!($&%,10$&,0F.02"&(02!20*@'-$"2"%0($"97*,97&(0!%")<F 0%2!3&+03"%;!&%&3',",!Z=#Q]E[5!=70,0!$0,-3(,!$0:0&3!&!3*,,!*1!uCKMjeNM!??j! "%(0$)&3&(02!)033,!"%!)*330)("%;!2-)(,!1*33*4"%;!*+,($-)("*%!(7&(!4&,!,(&(",(")&33'! ,";%"1")&%(!Z9!v!U5UV[!470%!)*.9&$02!4"(7!)*%($*3!)*330)("%;!2-)(,5! A"-"Z" :2&&,F%;()'%*+,.9(*/;9,'92,:*&&28'%+;,</8',I)32H2+',F2H0()+2, S":0%!(70!-%0@90)(02!1"%2"%;!*1!uCKMF9*,"(":0!)033,!"%!(70!10(&3!)*330)("%;!2-)(!&%2! (70"$!2",&990&$&%)0!4"(7!"%/-$'8!&%2!(*!1-$(70$!,-99*$(!(70!9*,,"+"3"('!(7&(!(70! uCKMjeNM!??j!"%(0$)&3&(02!)033,!40$0!-%20$;*"%;!]K=8!(70!&+"3"('!*1!(70,0!)033,!(*! )$*,,!(70!)*330)("%;!2-)(!+&,0.0%(!.0.+$&%0!4&,!0@93*$025!M,!9$0:"*-,3'! ,-;;0,(02!ZVaX8Vad[8!]K=!"%)3-20,!(70!.0,0%)7'.&3!0@9&%,"*%!*1!(70!"%(0$,("("-.!! VUU! !  !"#$%&'()(  Obstructed  Control  A.! DAPI !SMA  B.!  % CAII+ Cells  CAII  18.20%  23.17%  Controls Contralaterals  C.!  *!  11.74%  *!  12.21%  *!  7.81%  Mild Moderate Severe Obstruction Severity  DAPI TUNEL CAII  -./*#%'01P3'I%F+%@"6'":'46$%#9,+,$%)'!%++8'.6'>?8$#*9$%)'-%$,+'!"++%9@6/'I*9$81'/01'J#' $6-'-85$6-&59'">'$6-'")*$%+,$-.<'.5&9$-.',"&&-,:#='.+,$*'$6-%-'5*'9'&"**'">'!0'JJY',-&&*' ,";89%-.'$"',"#$%"&',"&&-,:#='.+,$*@'/C1'T6-'#+;)-%'">'!0'JJY',-&&*'5#'$6-'")*$%+,$-.' ,"&&-,:#=' .+,$*<' %-=9%.&-**' ">' *-S-%5$A<' ?9*' *5=#5\,9#$&A' %-.+,-.' ?6-#' ,";89%-.' $"' ,"#$%"&'9#.',"#$%9&9$-%9&',"&&-,:#='.+,$@'L'8'V'N@NM'S-%*+*',"#$%"&'9#.',"#$%9&9$-%9&@' /!1' TdWEe' 9#9&A*5*' ">' ")*$%+,$-.' 9#.' ,"#$%"&' B5.#-A*' 5#.5,9$-' 5#>%-f+-#$' 98"8$":,' -S-#$*'/9%%"?*1'5#'$6-';-.+&&9'9#.'%9%-&A'5#'$6-',"&&-,:#='.+,$'-85$6-&5+;@'3,9&-')9%'K' /01'PN'O;<'/!1'XPO;@'E%%"%')9%*'K'*$9#.9%.'-%%"%'">'$6-';-9#@'W'K'c@' Q-8%5#$-.'>%";'!"#$ %&$'()*$+,-.%/$0.&*$12234$35617*$89:;8<<)$'  +/+(  N_MG=]A!I! ,  ! &%2!(70!20:03*9.0%(!*1!90$"(-+-3&$!uCKM!)*33&$,8!&%2!(70$01*$0!$0\-"$0,!(70! .";$&("*%!*1!(70!($&%,"("*%"%;!)033!(7$*-;7!(70!+&,0.0%(!.0.+$&%0!&%2!"%(*!(70! "%(0$,("("&3!,9&)05!61!%*(0!"%!."32!(*!.*20$&(03'!*+,($-)(02!)*330)("%;!2-)(,8!(70$0! 4&,!&%!*+,0$:&+30!2",$-9("*%!"%!)*33&;0%!?H!ZN*33!?H[!0@9$0,,"*%!*1!(70!+&,0.0%(! .0.+$&%08!,90)"1")&33'!&(!(70!,"(0!*1!uCKM!)*33&$!1*$.&("*%5!?%!&22"("*%!(*!(70!3*,,!*1! +&,0.0%(!.0.+$&%0!"%(0;$"('8!)*F3*)&3"D&("*%!0@90$".0%(,!&3,*!20.*%,($&(02! .";$&("*%!*1!uCKMjeNM!??j!"%(0$)&3&(02!)033,!(7$*-;7!(70!93&%0!*1!(70!)*330)("%;! 2-)(!+&,0.0%(!.0.+$&%0!&%2!"%(*!(70!uCKMF9*,"(":0!90$"(-+-3&$!)*33&$,!ZB";-$0! I5d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!"#$%&'()(  A.!  Obstructed  Control Vim !SMA Coll IV  B.!  DAPI !SMA CAII  C.!  D.!  DAPI E-Cad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N_MG=]A!I! ,  7-.&%!10(&3!-$"%&$'!($&)(!*+,($-)("*%!&%2!10(&3!$0%&3!2',93&,"&!ZVJO8VaO8Vaa8JUU[! &%2!&$0!7";73'!$09$*2-)"+30!"%!(7",!.*2035!! ! =*!2&(08!,(-2"0,!*1!(70!0110)(,!*1!-$"%&$'!($&)(!*+,($-)("*%!7&:0!-("3"D028!&3.*,(! 0@)3-,":03'8!9*,(%&(&3!.*203,!*1!(70!$*20%(!<"2%0'!ZaJ8VUX8VII8Vad8JUV8JUJ[5!=70,0! .*203,!1*)-,!0@)3-,":03'!*%!(70!0110)(,!*%!(70!9$*@".&3!(-+-30!&%2!(70!$*30!*1!]K=! "%!(70,0!,0;.0%(,!ZJUO8JUI[5!?%!;0%0$&38!(70!$0,9*%,0!(*!"%/-$'!",!2"110$0%(!"%!(70! 10(-,8!%0*%&(08!&%2!&2-3(8!4"(7!1"+$*,",!+0"%;!&!.&/*$!)*.9*%0%(!*1!(70!3&((0$!ZJUb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N_MG=]A!I! 20.*%,($&(0,!(70!"%/-$'F"%2-)02!2",&,,*)"&("*%!*1!&270$0%,!/-%)("*%,!ZJUY[5! C"."3&$3'8!(7",!)*%:0$,"*%!",!7";73";7(02!+'!(70!=<24050!0@9$0,,"*%!*1!H?K!"%!(70! )*330)("%;!2-)(!09"(703"-.!&2/&)0%(!(*!20:03*9"%;!90$"(-+-3&$!)*33&$,8!(70!&,,*)"&(02! 2",$-9("*%!*1!(70!(-+-3&$!+&,0.0%(!.0.+$&%08!&%2!0:"20%)0!*1!uCKMje!NM!??j! )*330)("%;!2-)(!09"(703"&3!)033!.";$&("*%5!M,!0@90)(028!0:"20%)0!*1!)033-3&$!.";$&("*%! 4&,!"%1$0\-0%(3'!2*)-.0%(02!;":0%!(70!,7*$(!4"%2*4!*1!(".0!2-$"%;!47")7!"(! *))-$,!&%2!(70!3"<03"7**2!(7&(!"(!*))-$,!,**%!&1(0$!*+,($-)("*%5!B"%&33'8!(70! 970%*('9")!($&%,"("*%!*1!)*330)("%;!2-)(!09"(703"-.!4&,!&3,*!(0.9*$&33'!&%2! ,9&("&33'!&,,*)"&(02!4"(7!(70!1*$.&("*%!*1!90$"(-+-3&$!uCKMF9*,"(":0!)*33&$,8!30%2"%;! 1-$(70$!,-99*$(!1*$!(70!9$*+&+30!$*30!*1!(70!)*330)("%;!2-)(!($&%,"("*%!"%!(7",! 90$"(-+-3&$!9&(7*3*;'5!! ! ?%(0$0,("%;3'8!(70!"%)$0&,0!"%!+&,*3&(0$&3!H?K!0@9$0,,"*%!",!,00%!%*(!*%3'!"%!(70! .";$&("%;!uCKMjeNM!??j!"%(0$)&3&(02!)033!9*9-3&("*%8!+-(!&3,*!"%!(70!MhGJF9*,"(":0! 9$"%)"9&3!)033!9*9-3&("*%5!?%!.";$&("%;!09"(703"&3!&%2!)*330)("%;!2-)(F20$":02! 90$"(-+-3&$!)*33&$!)033,8!(7",!H?K!0@9$0,,"*%!3"<03'!"%2")&(0,!(70!)*%:0$,"*%!*1!(70,0! )033,!(*!&!.'*1"+$*+3&,(")!970%*('90!470$0!H?K!",!)$"(")&3!1*$!;$*4(78!.*("3"('!&%2! ,($-)(-$&3!,("11%0,,!*1!1"+$*+3&,(,!ZJUX8JUd[5!?%(0$0,("%;3'8!(70!0@9$0,,"*%!*1!H?K!7&,! &3,*!+00%!20.*%,($&(02!(*!+0!*1!)$"(")&3!".9*$(&%)0!(*!(70!.&"%(0%&%)0!*1! 0%2*(703"&3!)033!,($-)(-$&3!"%(0;$"('!"%!$0,9*%,0!(*!.0)7&%")&3!,($0,,!ZJUX[!&%2!(*!+0! $0;-3&(02!+'!)7&%;0,!"%!97',"*3*;")!13-"2!13*4!ZJUa[5!=70$01*$08!(70!=<24050! 0@9$0,,"*%!*1!H?K!"%!(70!%*%F.";$&("%;!)033,!*1!(70!"%/-$02!)*330)("%;!2-)(! 09"(703"-.8!&3*%;!4"(7!(70!1*$.&("*%!*1!.-,)-3&$!)*33&$,!%*(!-%3"<0!(7*,0!1*-%2!"%! VUb! !  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b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b[5!=70,0!3&+03!$0(&"%"%;!)033,!7&:0!+00%! ".93")&(02!"%!*$;&%!$09&"$!1*33*4"%;!$0%&3!",)70."&!&%2!-%"3&(0$&3!-$"%&$'!($&)(! *+,($-)("*%!ZJVY[5!=70,0!,(-2"0,!&3,*!,-;;0,(!(7&(!47"30!"%"("&33'!(70!%-.+0$!*1!3&+03! $0(&"%"%;!)033,!"%)$0&,0,8!(7",!9*9-3&("*%!",!-3(".&(03'!20930(02!"%!(70!3*%;F(0$.! "%2")&("%;!(70"$!&)(":&("*%!&%2!9$*3"10$&("*%!"%!$0,9*%,0!(*!"%/-$'5! VUY! !  N_MG=]A!I! ! ?%!(70!)-$$0%(!,(-2'8!40!"20%("1"02!&!,-+9*9-3&("*%!*1!)033,!&+-%2&%(!"%!(70!"%%0$! .02-33&!*1!(70!10(&3!.*%<0'!<"2%0'!(7&(!0@9$0,,0,!2"11-,0!uCKM!&%2!(70! "%(0$)&3&(02!)033!.&$<0$8!NM!??5!>7"30!9$0:"*-,!,(-2"0,!4"(7!9*,(%&(&3!7-.&%8!$&++"(8! &%2!$&(!<"2%0',!7&:0!,-;;0,(02!(70!)*.930(0!&+,0%)0!*1!"%(0$)&3&(02!)033,!"%!"%%0$! .02-33&$'!&%2!9&9"33&$'!)*330)("%;!2-)(,!ZVXd8VXa8VaU[8!*-$!2&(&!,7*4,!(7&(!(70! %*$.&3!10(&3!.*%<0'!<"2%0'!)*%(&"%,!Vdm!uCKMjeNM!??j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uCKMjeNM!??j!"%(0$)&3&(02!)033!%-.+0$,!"%!(70!)*330)("%;!2-)(!*1!(70!*+,($-)(02! <"2%0'!20)$0&,02!1$*.!Vdm!(*!dm!"%!,0:0$03'!2"3&(028!1-33'!)*33&$02!)*330)("%;!2-)(,! Z;0%0$&33'!$09$0,0%("%;!J!*$!30,,!)033,!90$!2-)([5!=7",!20)$0&,0!4&,!%*(!&,,*)"&(02! 4"(7!&%!"%)$0&,0!"%!09"(703"&3!&9*9(*,",!ZB";-$0!I5X[!&,!,7*4%!+'!=#Q]E!&%&3',",5! ?%($";-"%;3'8!.&%'!*1!(70!.*,(!,0:0$03'!"%/-$02!2-)(,!0@7"+"(!&!)*.930(0!20930("*%!*1! VUX! !  N_MG=]A!I! (70!uCKMjeNM!??j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a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`R!"%!3&(0$!3"105!  OIOI  .<K6:A=5<K=*  >0!7&:0!,7*4%!(7&(!(70!10(&3!9$".&(0!.*203!*1!-$"%&$'!($&)(!*+,($-)("*%!)3*,03'! 9&$&3303,!(7&(!*1!)*%;0%"(&3!*+,($-)("*%!"%!(70!7-.&%!10(-,!Zb[5!Q*(&+3'8!!  VUd! !  !"#$%&'()(  Activation (as by injury)  Commitment to Epithelial Maintenance  Commitment to Peritubular Collar Formation  -./*#%'01T3'J,#,)./5'":'J#"/%6.$"#'I.U%#%6@,@"6'.6'B%8F"68%'$"'-%$,+';#.6,#<'=#,9$' >?8$#*9@"61'g5$6'+%5#9%A'$%9,$'")*$%+,:"#<'8%"=-#5$"%',-&&*'?5$65#'$6-',"&&-,:#='.+,$' -85$6-&5+;' ;9A' %-*8"#.' $"' $+)+&9%' 5#[+%A' 5#' 9' #+;)-%' ">' .5H-%-#$' ?9A*<' 5#,&+.5#=' 8%"&5>-%9:#=' 9#.' -789#.5#=' $6-' 8%5#,589&' ,-&&' 8"8+&9:"#' $"' ;95#$95#' -85$6-&59&' 5#$-=%5$A<' 9#.Z"%' ,";;5h#=' $"' 9' ;A"\)%")&9*:,' 86-#"$A8-' $6%"+=6' E4T' 9#.' >"%;5#=' 8-%5$+)+&9%' ,"&&9%*' 5#' %-*8"#*-' $"' 5#,%-9*-.' 5#$%9&+;5#9&' 8%-**+%-@' Q-8%5#$-.' >%";'!"#$%&$'()*$+,-.%/$0.&*$12234$35617*$89:;8<<)$'  Figure 9! +/*(  N_MG=]A!I! ! *+,($-)("*%!"%!(70!10(&3!9$".&(0!"%2-)0,!&!,"."3&$!20930("*%!*1!"%(0$)&3&(02!)033,!&%2! 9$"%)"9&3!)033,!"%!(70!.02-33&$'!)*330)("%;!2-)(!(7&(!",!&,,*)"&(02!4"(7!&%!"%)$0&,0!"%! +*(7!(-+-3&$!2"3&(&("*%!&%2!,.**(7!.-,)30!)*33&$!1*$.&("*%5!?%!&22"("*%8!-,"%;!(70! 9$".&(0!.*2038!40!7&:0!1-$(70$!20,)$"+02!(70!$0.*203"%;!&%2!202"110$0%("&("*%!*1! (70!)*330)("%;!2-)(!09"(703"-.5!>0!7&:0!,7*4%!(7&(8!1*33*4"%;!*+,($-)("*%8!(70! )*330)("%;!2-)(!09"(703"-.!-%20$;*0,!&!3*,,!*1!09"(703"&3!.&$<0$,!&%2!(70!&,,*)"&(02! ;&"%!*1!&!.0,0%)7'.&3!970%*('905!>0!7&:0!&3,*!7";73";7(02!0:"20%)0!(*!,-99*$(!(70! $*30!*1!)*330)("%;!2-)(!09"(703"&3!]K=!"%!)*%($"+-("%;!(*!$0%&3!"%(0$,("("&3!0@9&%,"*%! &%28!9-(&(":03'8!(70!9$*;$0,,"*%!(*!&!1"+$*(")!0%2F9*"%(5!>0!7'9*(70,"D02!(7&(! 09"(703"&3!202"110$0%("&("*%!,0$:0,!(4*!$*30,!1*33*4"%;!*+,($-)("*%P!ZV[!(*!&33*4!1*$! 9$*3"10$&("*%!(*!.&"%(&"%!(70!"%(0;$"('!*1!(70!09"(703"&3!+&$$"0$8!&%2!ZJ[!(*!)*%($"+-(0! (*!(70!$09&"$!9$*)0,,!+'!9$*.*("%;!(70!1*$.&("*%!*1!90$"(-+-3&$!)*33&$,!:"&!]K=5! !  VVU! !  N_MG=]A!b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bb8VbdFVYU[5!=7",!&)(":&("*%!7&,!+00%!,7*4%!(*!+0!&!.&/*$!.02"&(*$! "%!(70!9$*;$0,,!*1!2*4%,($0&.!1"+$*,",!1*33*4"%;!*+,($-)("*%5!!! ! VVV! !  N_MG=]A!b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n!d!400<!*32!.&30!.")0!40$0!&33*402!(*!$0)*:0$!&%2! 40$0!(70%!7*-,02!1*$!V8!J8!O8!Y8!*$!a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b5VM[5!M,!&!)*%,0\-0%)0!*1!(7",!+&)<!-9!*1!-$"%0!"%(*!(70!-$0(0$*F)&3')0&3!$0;"*%8!!  VVJ! !  !"#  !"#$%"&'  ()*+'  345$%678"#' 2'-*.'  1'-*.'  ,'-*.'  /'-*.'  0'-*.'  $"## !"%$9:' 3;' <;'  **+(  !"#$%&'()(  %&'()*#+",-#.*/*)01#%*02()*3#45#667"#="&&">?#@'6%?#*%.'$%*7$'"45$%678"#A'$)9'*776+6&*8"#'"B'6%?#9'C%":?+*&'$"'$)9'5?$9' "B'&?@*8"#'7*6595'DEF'C%"@%955?G9'-?5$9#5?"#'"B'$)9'6%9$9%'*#-'7*&.:A'*#-'DHF'*55"7?*$9-'7"+C%955?"#'"B'$)9'%9#*&'"6$9%' +9-6&&*'D3;F'*#-'7"%$9:I'<;'J'?##9%'+9-6&&*I''  N_MG=]A!b! ,  9$*;$0,,":0!)*.9$0,,"*%!*1!(70!*-(0$!.02-33&$'8!&%2!(*!&!30,,0$!0@(0%(8!)*$(")&3! 9&$0%)7'.&!4&,!&99&$0%(!ZB";-$0!b5V5L[5!! ! =70!$0($*;$&20!&))-.-3&("*%!*1!-$"%08!&%2!(70!&,,*)"&(02!"%)$0&,0,!"%!3-."%&3! 9$0,,-$08!4&,!*+,0$:02!4"(7"%!(70!(-+-30,!*1!(70!*-(0$!.02-33&!&%2!)*$(0@!1*33*4"%;! &,!3"((30!&,!V!2&'!*1!*+,($-)("*%5!?%!(70!*-(0$!.02-33&8!(70!.&/*$"('!*1!(70,0!2"3&(02! (-+-30,!40$0!)*330)("%;!2-)(,!ZB";-$0!b5J[5!B*33*4"%;!9$*3*%;02!*+,($-)("*%8!(70! 9$0,0%)0!*1!2"3&(02!(-+-30,!*1!%*%F)*330)("%;!2-)(!*$";"%!4&,!.*$0!9$*%*-%)025! C"."3&$3'8!(70!.&/*$"('!*1!2"3&(02!(-+-30,!"%!(70!*+,($-)(02!)*$(0@!)*%,",(02!*1! )*330)("%;!2-)(,!&%2!2",(&3!)*%:*3-(02!(-+-30,8!4"(7!3"((30!*$!%*!*+,0$:&+30!)7&%;0!(*! (70!.*$97*3*;'!*$!,($-)(-$0!*1!(70!*(70$!)*$(")&3!%097$*%!,0;.0%(,!0&$3'!"%! *+,($-)("*%8!"%!9&$(")-3&$!(70!9$*@".&3!)*%:*3-(02!(-+-30,5!M(!(70!3&(0$!(".0!9*"%(,! *1!Y!&%2!a!2&',!9*,(F*+,($-)("*%8!2"3&("*%!*1!*(70$!(-+-3&$!,0;.0%(,!*1!%*%F )*330)("%;!2-)(!&%2!n2",(&3!)*%:*3-(02!(-+-30!*$";"%!+0)&.0!9$*%*-%)02!ZB";-$0! b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µ+I'  N_MG=]A!b! ,  ! $09*$(02!(*!$&9"23'!".9&"$!(-+-3&$!1-%)("*%!&%2!9$*.*(0!(-+-3&$!&($*97'5!=7",! 970%*.0%*%!",!+0,(!20,)$"+02!2-$"%;!##6!"%!(70!$&(!ZVOY8VIV8VIJ8JVXFJVa[5!?%!*-$! .*2038!&9*9(*(")!0:0%(,!"%!)*%($*3!&%2!"%!,7&.F*90$&(02!<"2%0',!*1!&33!(".0!9*"%(,! 40$0!$&$05!=70!104!0:0%(,!*+,0$:02!*))-$$02!"%!",*3&("*%!&%2!&$0!"%2")&(":0!*1!(70! %*$.&3!$&(0!*1!)033!(-$%*:0$!4"(7"%!(70!<"2%0'5!?%!(70!0&$3'F*+,($-)(02!<"2%0'8! &9*9(*(")!0:0%(,!*))-$$02!9$".&$"3'!4"(7"%!,0;.0%(,!*1!(70!2",(&3!%097$*%! ZB";-$0!b5O[5! ! B*33*4"%;!V!(*!O!2&',!*1!*+,($-)("*%8!&9*9(*,",!4&,!*+,0$:02!"%!90$"F)&3')0&3!(",,-0! *1!(70!*-(0$!.02-33&!"..02"&(03'!&2/&)0%(!(*!(70!0@9&%202!)&3')0&3!,9&)0!&%2! %0&$0,(!(70!9*"%(!*1!($&%,"("*%!1$*.!9&9"33&$'!(*!)&3')0&3!3"%"%;5!=7",!90$"F)&3')0&3! $0;"*%!Z+*@!"%!B";-$0!b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µ06+.*#-$+TU+µ06+ 8I<N:+TU+µ06+,*/+8C:+RSS+µ0=+ **+(  N_MG=]A!b! ,  3"%"%;!*1!(70!9&9"33&!0@7"+"(02!=#Q]EF9*,"(":0!"..-%*$0&)(":"('!"%2")&(":0!*1! &9*9(*,",!ZB";-$0!b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b5O[5!! ! B*33*4"%;!a!2&',!*1!*+,($-)("*%!(70!1$0\-0%)'!*1!&9*9(*(")!0:0%(,!4&,!2$&.&(")&33'! $02-)028!(7*-;7!,("33!9$0,0%(8!"%!&33!)*.9&$(.0%(,!*1!(70!<"2%0'5!=70!9$0,0%)0!*1! 9'<%*(")!=#Q]EF9*,"(":0!%-)30"!"%!(70!)*$(")&3!$0;"*%!90$,",(025!M22"("*%&33'8!%04! $0;"*%,!*1!4"20,9$0&2!9&$0%)7'.&3!&($*97'!&%2!&9*9(*,",!40$0!&99&$0%(!"%!(70! 9*3&$!$0;"*%,!*1!(70!$0%&3!)*$(0@!ZB";-$0!b5O[5!=70,0!$0;"*%,!&$0!+03"0:02!(*!)*%(&"%! VVd! !  N_MG=]A!b! %097$*%,!9$*@".&3!(*!*$!p-9,($0&.q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uCKM!",!&,!&!7&33.&$<!10&(-$0!*1!+*(7!$09&"$!&%2!1"+$*,",5!?%!%*$.&3!&%2! ,7&.F*90$&(02!<"2%0',!*1!&33!(".0F9*"%(,8!#CKM!"..-%*$0&)(":"('!4&,!$0,($")(02!(*! (70!:&,)-3&(-$08!)&3')0&3!3"%"%;8!&%2!&!,.&33!9*9-3&("*%!*1!1"+$*+3&,(,!3*)&(02!"%!(70! "%(0$,("("-.!+0(400%!(70!:&$"*-,!(-+-30,!&%2!2-)(,!*1!(70!.02-33&!&%2!)*$(0@! ZB";-$0!b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b5I[5!>0,(0$%!+3*(! &%&3',",!*1!(",,-0!3',&(0,!20.*%,($&(02!(7&(!(70!9$*(0"%!30:03!*1!#CKM!",!030:&(02!!  VVa! !  !"#$%"&'  ()*+'  2'-*.'  1'-*.'  345$%678"#' ,'-*.'  /'-*.'  0'-*.'  !*C56&9'  !"%$9:' 36$9%' ;9-6&&*' <##9%' ;9-6&&*' %&'()*# +">-# ?/2*)3<<01# !@A!# !BB(C(10<4/"# <#$9%588*&' !(;E' DP9-F' 9:C%955?"#' ?#7%9*595' C%"@%955?G9&.' >?$)' C%"&"#@9-' "45$%678"#A'>?$)'+"%9'-%*+*87'*776+6&*8"#'"B'?#$9%588*&'!(;E'?#'$)9'"6$9%'+9-6&&*I' !"#$%&'()(  *,-(  N_MG=]A!b! ,  &%2!"%)$0&,0,!*:0$!(".0!"%!<"2%0',!*+,($-)(02!1*$!O!(*!a!2&',!ZB";-$0!b5bM[!&%2! 470%!)*.9&$02!(*!0"(70$!)*%($*3!*$!,7&.!<"2%0',5!_*40:0$8!(70,0!"%)$0&,0,!&$0! $03&(":03'!.*20,(!)*%,"20$"%;!(70!.&;%"(-20!*1!(70!#CKM!$0,9*%,0!*+,0$:02!4"(7! "..-%*7",(*)70.",($'5! ! =*!+0((0$!20,)$"+0!(70!.&;%"(-20!&%2!3*)&3"D&("*%!*1!"%(0$,("("&3!#CKM!4"(7"%! ,90)"1")!$0;"*%,!*1!(70!<"2%0'8!.*$97*.0($")!&%&3',",!4&,!-,02!(*!\-&%("1'!(70!&$0&! *1!"%(0$,("("&3!#CKM!"..-%*$0&)(":"('5!#,"%;!&!aaF9*"%(!;$"2!ZVV!:0$(")&3!&%2!a! 7*$"D*%(&3!3"%0,[8!)*-%(,!40$0!.&20!1$*.!O!<"2%0',!90$!)*%2"("*%5!VU!$09$0,0%(&(":0! *-(0$!.02-33&$'!&%2!)*$(")&3!7";7!9*40$!1"032,!ZIU@!*+/0)(":0[!Z0@&.930,!"%!B";-$0! b5bL[!90$!<"2%0'!40$0!\-&%("1"02!4"(7!0\-&3!$09$0,0%(&("*%!*1!"%%0$!&%2!*-(0$! (",,-0!"%!+*(7!$0;"*%,5!G*"%(,!3'"%;!*%!3&$;0!:0,,03,!*1!(70!:&,)-3&$!,',(0.!40$0!%*(! )*-%(025!=70!$0,-3(,!&$0!0@9$0,,02!&,!(70!%-.+0$!*1!9*"%(,!90$!7";7!9*40$!1"032,! (7&(!3"0!*%!#CKMF9*,"(":0!"%(0$,("("-.8!&%2!&$0!$09$0,0%(&(":0!*1!(70!*:0$&33!&$0&!*1! #CKM!"..-%*$0&)(":"('!ZB";-$0!b5bN[5!!M(!&33!(".0!9*"%(,8!(70!.02-33&$'!#CKM! )*-%(,!40$0!7";70$!(7&%!(7*,0!*1!(70!)*$(0@5!MQ6HM!$0,-3(,!20.*%,($&(0!&! ,";%"1")&%(!&110)(!*1!+*(7!*+,($-)("*%!&%2!(".0!*%!(70!&$0&!*1!#CKM! "..-%*$0&)(":"('5!?%!+*(7!)*$(0@!&%2!*-(0$!.02-33&8!9*,(7*)!(0,("%;!20.*%,($&(0,! %*!2"110$0%)0,!+0(400%!&%'!*1!(70!,7&.!;$*-9,8!+-(!&!,";%"1")&%(!"%)$0&,0!Z9!v!U5Ub[! "%!#CKM!&$0&!&1(0$!J!2&',!*1!*+,($-)("*%!+01*$0!93&(0&-"%;!1$*.!Y!(*!a!2&',5!?%!(70! *-(0$!.02-33&8!#CKM!&$0&!"%)$0&,02!,";%"1")&%(3'!Z9!v!U5Ub[!1$*.!J!(*!Y!2&',8!4"(7! &%!"%(0$.02"&(0!"%)$0&,0!"%!#CKM!&$0&!&(!O!2&',!*+,($-)("*%5!?%!(70!)*$(0@8!#CKM  VJV! !  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µ0=++  *,,(  N_MG=]A!b! &$0&!2*0,!%*(!2"110$!+0(400%!J!&%2!O!2&',8!+-(!"%)$0&,02!,";%"1")&%(3'!Z9!v!U5Ub[! 1$*.!O!(*!Y!2&',5!ZB";-$0!b5bN[5!=70,0!$0,-3(,!20.*%,($&(0!(7&(!#CKMF9*,"(":0!)033,! $&9"23'!&))-.-3&(0!"%!(70!$0%&3!"%(0$,("("-.!1*33*4"%;!*+,($-)("*%8!&%2!(7&(!(7",! 0110)(!",!.*$0!9$*%*-%)02!"%!(70!.02-33&!(7&%!"%!(70!)*$(0@5!! ! M,!4"(7!#CKM8!$0*$;&%"D&("*%!&%2!209*,"("*%!*1!)*33&;0%,!",!&%*(70$!<0'!"%(0$,("("&3! 10&(-$0!1*33*4"%;!*+,($-)("*%5!=70!209*,"("*%!&%2!&))-.-3&("*%!*1!)*33&;0%,!?!&%2!???! &$0!1$0\-0%(3'!-,02!&,!.&$<0$,!*1!1"+$*,",!&(!3&(0$!(".0!9*"%(,!1*33*4"%;!*+,($-)("*%! ZVb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b5Y[5!=*;0(70$8!(70!20,)$"+02!)7&%;0,!"%!"%(0$,("("&3! #CKM!&%2!N*33!?H!"..-%*$0&)(":"('!7";73";7(!(70!$&9"2!0@9&%,"*%!&%2!$0.*203"%;!*1! (70!$0%&3!"%(0$,("("-.!(7&(!",!.*$0!9$*%*-%)02!"%!(70!*-(0$!.02-33&!(7&%!"%!(70! )*$(0@5! VJO! !  !"#$%&'()(  I)*$%)1+  P3,0+  !"#$%&'()*+ V+/,4+  O+/,4+  W+/,4+  I)%$-5+  !&$-%+ X-/&11,+  89:.-;"<=2>"W1);-&00$@"3(@@$:;1"WX"4//.I.@$0(1="J*$-%#((,1+I)11+J^+8F-/:+-5;%-##.)*+ .*'%-,#-#+;%)7%-##.D-14+G.$3+;%)1)*7-/+)"#$%&'()*6+G.$3+0)%-+/%,0,('+,''&0&1,()*+ .*+$3-+)&$-%+0-/&11,+$3,*+.*+$3-+')%$-5=+P',1-+",%+Q+TU+µ0=+  *,-(  N_MG=]A!b! ,  K"-"A" :*&&28'%+;,</8',64%'92&%)&,:9)+;23, ,?%!&22"("*%!(*!)7&%;0,!(*!(70!"%(0$,("("&3!)*.9&$(.0%(8!40!7&:0!9$0:"*-,3'!,7*4%! (7&(!-$0(0$")!*+,($-)("*%!&3(0$,!(70!20:03*9.0%(!&%2!2"110$0%("&("*%!*1!(70!)*330)("%;! 2-)(!09"(703"-.!"%!+*(7!7-.&%!&%2!9$".&(0!10(&3!<"2%0',5!=70!)*330)("%;!2-)(! 09"(703"-.!",!)*.9*,02!*1!(4*!)033!('90,P!MhGJF9*,"(":0!9$"%)"9&3!)033,!(7&(! )*.9$",0!(70!.&/*$"('!*1!(70!)*330)("%;!2-)(!)033,!&%2!:M=G&,0F9*,"(":0!"%(0$)&3&(02! )033,!(7&(!)*.9$",0!(70!$0.&"%20$5!?%!*-$!.*-,0!.*203!*1!##68!-$0(0$")!*+,($-)("*%! $0,-3(02!"%!&!9$*;$0,,":0!3*,,!*1!MhGJ!9$*(0"%!*:0$!(".0!"%!.02-33&$'!&%2!)*$(")&3! )*330)("%;!2-)(!09"(703"&3!)033,8!,"."3&$!(*!*-$!9$0:"*-,!20,)$"9("*%,!*1!10(&3!7-.&%! &%2!9$".&(0!<"2%0',5!?%!(70!.-$"%0!<"2%0'8!(70!.*,(!,";%"1")&%(!20930("*%!*1! 9$"%)"9&3!)033!MhGJ!*))-$$02!4"(7"%!(70!"%%0$!,($"9!*1!(70!*-(0$!.02-33&8!&%2!(*!&! 30,,0$!0@(0%(!"%!(70!"%%0$!.02-33&8!47"30!)*$(")&3!)*330)("%;!2-)(,!0@7"+"(02!$03&(":03'! ."%*$!)7&%;0,!ZB";-$0!b5X[5!C"."3&$3'8!-$0(0$")!*+,($-)("*%!$0,-3(02!"%!(70!3*,,!*1! :M=G&,0F9*,"(":0!"%(0$)&3&(02!)033,!ZB";-$0!b5d[5!>"(7!"%)$0&,"%;!30%;(7!*1!(".0!*1! *+,($-)("*%8!(70!9$*(0"%!30:03,!*1!MhGJ!"%!<"2%0'!3',&(0,!20)$0&,02!2$&.&(")&33'!&,! 20(0$."%02!+'!40,(0$%!+3*(!&%&3',",8!47"30!:M=G&,0!9$*(0"%!30:03,!$0.&"%02!3&$;03'! -%)7&%;02!ZB";-$0!b5a[5!C"%)0!*(70$!%097$*%!,0;.0%(,!"%)3-2"%;!(70!2",(&3! )*%:*3-(02!(-+-30!&%2!(70!&,)0%2"%;!9*$("*%!*1!(70!3**9!*1!_0%30!&3,*!0@9$0,,! :M=G&,08!"(!",!3"<03'!(7&(!40,(0$%!+3*(!&%&3',",!",!%*(!,-11")"0%(3'!,0%,"(":0!(*!$0130)(! (70!$03&(":0!)7&%;0,!"%!&+-%2&%)0!20.*%,($&(02!+'!"..-%*7",(*)70.",($'5!! !  VJb! !  !"#$%&'()(  !"#$%&'()*+  4="  I)*$%)1+  P3,0+  V+/,4+  O+/,4+  W+/,4+  I)%$-5+  5="" !&$-%+ X-/&11,+  3="" J**-%+ X-/&11,+  89:.-;" <=S>" N(&&" (P" '-91/9?$@" 3;@@" 4Y'T" 7U?-;&&9(1=" E%)7%-##.D-+ 1)##+ )2+ 9_ET+ -5;%-##.)*+ 8F-/:+ .#+ )"#-%D-/+ )D-%+ (0-+ G.$3+ &%.*,%4+ )"#$%&'()*+ .*+ ;%.*'.;,1+ '-11#+ )2+ $3-+.**-%+,*/+)&$-%+0-/&11,%4+')11-'(*7+/&'$6+G.$3+$3-+1,%7-#$+%-/&'()*+.*+$3-+.**-%+ #$%.;-+)2+$3-+)&$-%+0-/&11,6+,*/+1.`1-+'3,*7-+.*+$3-+')%(',1+')11-'(*7+/&'$=+P',1-+",%#++ Q+RSS+µ0=+  *,.(  !"#$%&'()(  !"#$%&'()*+  4="  I)*$%)1+  P3,0+  V+/,4+  O+/,4+  W+/,4+  I)%$-5+  5="" !&$-%+ X-/&11,+  3="" J**-%+ X-/&11,+  89:.-;" <=Q>" N(&&" (P" W1);-/$@$);J" 3;@@&=" >3-+ *&0"-%+ )2+ D9>E,#-+ aD-+ .*$-%',1,$-/+ '-11#+ 8C%--*:+ .*+ ')11-'(*7+ /&'$#+ ,*/+ /.#$,1+ ')*D)1&$-/+ $&"&1-#+ /-'1.*-#+ 2)11)G.*7+ )"#$%&'()*6+ G.$3+ ,+ /%,0,('+ 1)##+ )2+ .*$-%',1,$-/+ '-11#+ .*+ .**-%+ 0-/&11,+ ,*/+ )&$-%+ 0-/&11,+')11-'(*7+/&'$#+,*/+,+0)/-#$+.*$-%',1,$-/+'-11+%-/&'()*+.*+')%(',1+')11-'(*7+ /&'$#+,*/+/.#$,1+')*D)1&$-/+$&"&1-#=+P',1-+",%#+Q+RSS+µ0=+  *,+(  !"#$%&'()(  I$%1+  P3,0+  !"#=+ 9_ET+  V+K,4#+  C9EKY+ 9_ET+  W+K,4#+  C9EKY+  R=S+  9_ET+B-D-1#+  4="4Y'T"  S=U+  S+ I)*$%)1+  V+K,4+  W+K,4+  P3,0+  !"#$%&'$-/+  V+K,4+  W+K,4+  5="O4Z'$&;"  V+K,4#+  P3,0+  !"#=+ D9>E,#-+ C9EKY+ D9>E,#-+  W+K,4#+  C9EKY+  D9>E,#-+B-D-1#+  I$%1+  R=S+  S=U+  S+  89:.-;" <=K>" " 3H$1:;&" 91" W1);-/$@$);J" 3;@@" $1J" '-91/9?$@" 3;@@" '-();91" 7U?-;&&9(1=" 9+ #.7*.Z',*$+ %-/&'()*+ )2+ 89:+ 9_ET+ -5;%-##.)*+ "&$+ *)$+ 8H:+ D9>E,#-+ -5;%-##.)*+ .#+ )"#-%D-/+ "4+ b-#$-%*+ "1)$+ ,*,14#.#+ )2+ ;%)$-.*+ 14#,$-#+ )2+ M./*-4#+ V+ ,*/+ W+ /,4#+ ;)#$< )"#$%&'()*+ G3-*+ ')0;,%-/+ $)+ ')*$%)1+ ,*/+ #3,0<);-%,$-/+ M./*-4#=+ A%%)%+ ",%#+ Q+ #$,*/,%/+/-D.,()*=+@+Q+V+,*.0,1#=+  *,/(  N_MG=]A!b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a!2&',!*1!*+,($-)("*%8!.02-33&$'!)*330)("%;! 2-)(!09"(703"&3!)033,!3*,(!(70"$!%*$.&3!9&((0$%02!,($-)(-$08!2",93&'"%;!&.*$97*-,! .*$97*3*;'!4"(7!2"11-,0!&%2!"$$0;-3&$!3&(0$&3!.0.+$&%0!]FN&2!3*)&3"D&("*%!&%2!&%! "%)$0&,02!9$*9*$("*%!*1!)'(*93&,.")!]FN&2!ZB";-$0!b5VU[5!! ! =70,0!$0,-3(,!"%2")&(0!(7&(!*+,($-)("*%!)&-,0,!*+,0$:&+30!&3(0$&("*%,!"%!(70! ,($-)(-$0!&%2!)033-3&$!)*.9*,"("*%!*1!(70!)*330)("%;!2-)(!09"(703"-.5!=70!3*,,!*1!(70! 1-%)("*%&3!($&%,9*$(0$,!MhGJ!&%2!:M=G&,0!"%!9$"%)"9&3!)033,!&%2!"%(0$)&3&(02!)033,! $0,90)(":03'8!"%!)*%/-%)("*%!4"(7!(70!2",$-9("*%!*1!]FN&2!3*)&3"D&("*%8!,-;;0,(,!(7&(! *+,($-)(":0!"%/-$'!$0,-3(,!"%!)033-3&$!202"110$0%("&("*%!&%2!9$*.*(0,!.0,0%)7'.&3! ($&%,1*$.&("*%!*1!(70!)*330)("%;!2-)(!09"(703"-.5! !  VJa! !  !"#$%&'()(  I)*$%)1+  P3,0+  !"#$%&'()*+ V+/,4+  O+/,4+  W+/,4+  I)%$-5+  !&$-%+ X-/&11,+  89:.-;" <=EF>" #9&-.?0(1" (P" 7*3$J" N(/$@9[$0(1=" A<I,/+ 8C%--*:+ 1)',1.c-#+ #;-'.Z',114+ $)+ $3-+ ;%.*'.;,1+ '-11+ ",#)1,$-%,1+ 0-0"%,*-+ .*+ ')*$%)1+ ,*/+ #3,0<);-%,$-/+ M./*-4#+ 8"%,'M-$:=+ + N)11)G.*7+ V+ /,4#+ )2+ )"#$%&'()*6+ A<I,/+ -5;%-##.)*+ .#+ 1)#$+ ,$+ $3-+ ",#,1+ 0-0"%,*-+ 8,%%)G3-,/:6+ G3.1-+ -5;%-##.)*+ ,$+ $3-+ 1,$-%,1+ 0-0"%,*-+ .#+ 0)%-+ /.[&#-+ 8,%%)G:=+ J*'%-,#-/+ '4$);1,#0.'+ A<I,/+ .#+ )"#-%D-/+ 2)11)G.*7+ O+ /,4#+ )2+ )"#$%&'()*+ 8,%%)G:=+ W+ /,4#+ ;)#$<)"#$%&'()*6+ ')11-'(*7+ /&'$+ '-11#+ 1)#-+ $3-.%+ %-7&1,%+ -;.$3-1.,1+ ;,`-%*.*7+ ,*/+ "-')0-+ ,0)%;3)&#6+ G.$3+ A<I,/+ ;))%14+ 1)',1.c-/+ $)+ $3-+ 1,$-%,1+ 0-0"%,*-+,*/+"-')0.*7+0)%-+'4$);1,#0.'=+P',1-+",%+Q+TU+µ0=+  *01(  N_MG=]A!b!  * PINI  %5=6A==5<K*  =70!.&"%!*+/0)(":0!*1!4*$<!9$0,0%(02!"%!(7",!)7&9(0$!4&,!(*!0,(&+3",7!&!.-$"%0!##6! .*203!*1!-$"%&$'!($&)(!*+,($-)("*%!"%!*-$!3&+5!=*!(7&(!0%28!40!7&:0!)7&$&)(0$"D02! &%2!1*)-,02!-9*%!(70!.*$97*3*;")&38!7",(*3*;")&38!&%2!1-%)("*%&3!)7&%;0,!*))-$$"%;! 4"(7"%!(70!.02-33&!&%2!)*330)("%;!2-)(!09"(703"-.!(7&(!7&:0!+00%!9$0:"*-,3'! -%20$$09*$(025!6-$!&%&3',0,!*1!*+,($-)(02!<"2%0',!&(!,0:0$&3!(".0!9*"%(,!1$*.!V!(*! a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N_MG=]A!b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a!2&',!&$0!0@90$"0%)"%;!30,,!97',")&3!*$!.0)7&%")&3!,($&"%!(7&%! VOJ! !  N_MG=]A!b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hGJ!"%!9$"%)"9&3!)033,!&%2!(70! VOO! !  N_MG=]A!b! &+-%2&%)0!*1!:M=G&,0F9*,"(":0!"%(0$)&3&(02!)033,!&$0!$02-)025!6(70$,!"%!*-$!3&+! 7&:0!,-+,0\-0%(3'!20,)$"+02!(70!20)$0&,0!"%!"%(0$)&3&(02!)033,!1*33*4"%;!.-$"%0! ##65!#,"%;!(70!,&.0!##6!.*203!K&$)!C*3*.*%!20.*%,($&(02!(7&(!"%(0$)&3&(02!)033! %-.+0$,!20)$0&,02!+'!OJFOOm!&1(0$!O!2&',!&%2!IbFYVm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N_MG=]A!b! ,-"(&+30!.*203!1*$!"20%("1'"%;!9*,,"+30!.0)7&%",.,!*1!)*330)("%;!2-)(!"%/-$'!&%2! $09&"$5! ! !  VOb! !  N_MG=]A!Y!  N:8@9;A#U #".-1('4#4*$+*'(;/!2*1(%*!"@1'!* SIHI  'K?D<EA6?5<K*  #$"%&$'!($&)(!*+,($-)("*%!",!&!2",*$20$!(7&(!)&-,0,!4"20,9$0&2!&%2!*1(0%!"$$0:0$,"+30! 2&.&;0!(*!(70!<"2%0'5!>70%!&113")("%;!(70!10(&3!<"2%0'8!*+,($-)("*%!".9&"$,!(70! %*$.&3!9$*)0,,!*1!$0%&3!20:03*9.0%(!&%2!.&(-$&("*%!$0,-3("%;!"%!$0%&3!2',93&,"&! &%2!1"+$*,",5!6+,($-)("*%!"%!(70!&2-3(!<"2%0'!"%2-)0,!$&9"2!"%/-$'!&%28!"1!9$*3*%;028! $0,-3(,!"%!,-+,(&%("&3!9&$0%)7'.&3!3*,,!&%2!1"+$*,",5!L*(7!2',93&,"&!&%2!1"+$*,",!)&%! 7&:0!&!%0;&(":0!".9&)(!*%!<"2%0'!1-%)("*%!&%28!"%!,0:0$0!)&,0,!"%:*3:"%;!+*(7! <"2%0',8!$0,-3(!"%!$0%&3!"%,-11")"0%)'!$0\-"$"%;!2"&3',",!*$!($&%,93&%(&("*%5!! ! ?%!(70!9$0:"*-,!)7&9(0$8!40!,7*402!(7&(!##6!"%!(70!&2-3(!.*-,0!$0)&9"(-3&(0,!.&%'! *1!(70!<0'!10&(-$0,!*1!$0%&3!)*330)("%;!2-)(!"%/-$'!20,)$"+02!"%!(70!10(&3!7-.&%!&%2! 9$".&(0!<"2%0'5!=70,0!$0,-3(,!20.*%,($&(0!(7&(!$0;&$230,,!*1!470(70$!*+,($-)("*%! *))-$,!"%!(70!&2-3(!*$!10(-,8!,";%"1")&%(!"%/-$'!&%2!$0.*203"%;!*1!(70!.02-33&!&%2! )*330)("%;!2-)(!&$0!)*%,0$:02!10&(-$0,!*1!-$"%&$'!($&)(!*+,($-)("*%!ZV8J[5!?%!(70! :&$"*-,!.*203,!*1!*+,($-)("*%!0@&."%02!+'!*-$!3&+8!(70!)*330)("%;!2-)(!0@90$"0%)0,! 2$&.&(")!2"3&(&("*%!(7&(!",!&,,*)"&(02!4"(7!2",$-9("*%!*1!)*330)("%;!2-)(!09"(703"&3! 1-%)("*%8!)033!&270,"*%8!09"(703"&3!202"110$0%("&("*%8!+&,0.0%(!.0.+$&%0! $0.*203"%;8!&%2!&))-.-3&("*%!*1!#CKMF9*,"(":0!)033,!"%!(70!&2/&)0%(!"%(0$,("("-.5! B-$(70$.*$08!(70,0!)7&%;0,!*))-$!"%!(70!&+,0%)0!*1!&99&$0%(!97',")&3!(-+-3&$! 2&.&;0!*$!4"20,9$0&2!)033!20&(7522 VOY! !  N_MG=]A!Y! ! M)-(0!-$"%&$'!($&)(!*+,($-)("*%!)&-,0,!&%!"..02"&(0!$",0!"%!-$0(0$")!&%2!"%($&$0%&3! 9$0,,-$0!ZVJa8VOU[5!?%!)7&$&)(0$"D"%;!(70!0&$3'!,(&;0,!*1!*+,($-)("*%!1*33*4"%;! .-$"%0!##6!"%!N7&9(0$!b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b8JJY[!&%2!,0%,&("*%!*1!.0)7&%")&3!,($&"%! (7$*-;7!"%(0;$"%,!3*)&(02!"%!1*)&3!&270,"*%!)*.930@0,8!&.*%;!*(70$,!Z$0:"0402!"%! ZVJa[[5!_*40:0$8!(70$0!",!;$*4"%;!"%(0$0,(!"%!*(70$!9-(&(":0!.0)7&%",.,!(7&(!.&'! )*%($"+-(0!(*!(7",!($&%,2-)("*%!"%)3-2"%;!(70!9*,,"+30!9&$(")"9&("*%!*1! .0)7&%*,0%,*$'!.0.+0$,!*1!(70!($&%,"0%(!$0)09(*$!9*(0%("&3!Z=AG[!9$*(0"%!1&."3'5! U"!"!" .()+3%2+',12824'*(,B*'2+'%)&,:9)++2&3,, =70!=AG!,-90$1&."3'!*1!9$*(0"%,!",!&!)*330)("*%!*1!Jd!<%*4%!.&..&3"&%!)&("*%! )7&%%03,5!=AG,!&$0!2":"202!"%(*!,"@!,-+1&."3"0,!+&,02!-9*%!(70"$!,($-)(-$&3! 7*.*3*;'!"%)3-2"%;!(70!)&%*%")&3!Z=AGNVFX[8!.03&,(&("%!Z=AGKVFd[8!:&%"33*"2! Z=AGHVFY[8!&%<'$"%!Z=AGMV[8!.-)*3"9"%!Z=AGKEVFO[!&%2!9*3')',("%!Z=AGGVFO[!=AG! ,-+1&."3"0,!ZJJX[5!C($-)(-$&33'8!(70!=AG!)7&%%03,!&$0!1*$.02!*1!7*.*(0($&.0$,8! 4"(7!0&)7!,-+-%"(!)*%(&"%"%;!Y!.0.+$&%0F,9&%%"%;!2*.&"%,!Z20,";%&(02!CVFY[5! C0;.0%(,!CVFCI!.&<0!-9!(70!90$"970$&3!9*$("*%,!*1!(70!)7&%%03!)*.930@8!47"30! VOX! !  N_MG=]A!Y! ,0;.0%(,!Cb!&%2!CY!1$*.!(70!&2/&)0%(!,-+-%"(,!)*.+"%0!(*!1*$.!(70!)0%($&3!)&("*%F ,030)(":0!9*$0!ZJJd[5!K*,(!=AG,!&$0!N&Jj!90$.0&+308!4"(7!(70!0@)09("*%,!*1!=AGKI! &%2!=AGKb8!&%2!)*%($"+-(0!(*!&)(":&("*%!*1!&!4"20!$&%;0!*1!N&Jj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b[8!7'90$(0%,":0!$0%&3!2&.&;0!Z=AGHV[!&%2!&-(*,*.&3F2*."%&%(! 9*3')',(")!<"2%0'!2",0&,0!Z=AGGV!&%2!=AGGJ[!ZJJd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°N8!&)"2")! 9_!&%2!&$&)7"2*%")!&)"2!.0(&+*3"(0,!ZJJa[5!=70!&)(":&("*%!*1!=AGHI!+'!(70,0! VOd! !  N_MG=]A!Y! :&$"*-,!,(".-3"!",!%*(!1-33'!-%20$,(**2!&%2!",!+03"0:02!(*!*))-$!+'!.-3("930! .0)7&%",.,5!M)(":&("*%!*1!=AGHI!"%!$0,9*%,0!(*!7'9*(*%")!)033!,4033"%;!*))-$,! "%2"$0)(3'!1*33*4"%;!)033!,4033"%;!&)(":&("*%!*1!97*,97*3"9&,0!MJ8!30&2"%;!(*! 2*4%,($0&.!9$*2-)("*%!*1!&$&)7"2*%")!&)"2!ZJJa[5!M)(":&("*%!*1!=AGHI!:"&! (0.90$&(-$0!&%2!97*$+*3!0,(0$,!-,0,!&!,09&$&(0!.0)7&%",.!*1!&)(":&("*%!(7&(!",! 2090%20%(!*%!,90)"1")!&."%*!&)"2,!"%!(70!CO!($&%,.0.+$&%0!2*.&"%5!M!:*3(&;0F 2090%20%(!;&("%;!.0)7&%",.!7&,!&3,*!+00%!9$*9*,02!ZJOU[5!G7*,97*$'3&("*%!*1! =AGHI!+'!9$*(0"%!<"%&,0!N8!9$*(0"%!<"%&,0!M!&%2!.0.+0$,!*1!(70!C$)!<"%&,0!1&."3'! &990&$,!(*!.*2-3&(0!)7&%%03!,0%,"(":"('!$&(70$!(7&%!&)(":&("*%!ZJOV8JOJ[8!47"30! ($&11")<"%;!&%2!3*)&3"D&("*%!*1!=AGHI!&$0!"%13-0%)02!+'!;3')*,'3&("*%!&%2! -+"\-"("%"D&("*%!ZJOO8JOI[5! ! M)(":&("*%!*1!=AGHI!".9&)(,!09"(703"&3!1-%)("*%!&%2!7&,!+00%!,7*4%!(*!"%)$0&,0! 9&$&)033-3&$!90$.0&+"3"('!*1!.&..&$'!)033,!(7$*-;7!(70!2",$-9("*%!*1!(";7(! /-%)("*%,!ZJOb[8!&%2!(70$0+'!$0;-3&(0,!,<"%!+&$$"0$!1-%)("*%!ZJOY[5!?%!$0,9*%,0!(*! 97',")&3!&%2!)70.")&3!)-0,8!=AGHI!$0;-3&(0,!)"3&$'!+0&(!1$0\-0%)'!"%!9-3.*%&$'! 09"(703"-.!ZJOX8JOd[5!=AGHI!7&,!&3,*!+00%!3"%<02!(*!2":0$,0!)033-3&$!$0,9*%,0,! $&%;"%;!1$*.!(70!"%2-)("*%!*1!97',")&3!,0%,&("*%F.02"&(02!+0(&!)033!20&(7!"%!(70! 9&%)$0&,!ZJOa[8!(*!(70!$0;-3&("*%!*1!*,(0*)3&,(!2"110$0%("&("*%!ZJIU[5!M))-.-3&("%;! 0:"20%)0!,-99*$(,!&!$*30!1*$!=AGHIF.02"&(02!.0)7&%*,0%,&("*%8!&3(7*-;7!(7",! 1-%)("*%!",!%*(!4033!20,)$"+025!?%!(70!+3&220$!-$*(703"-.8!,($0()7F"%2-)02!=AGHI! &)(":&("*%!7&,!+00%!".93")&(02!"%!(70!,0%,&("*%!*1!+3&220$!2",(0%,"*%!ZJIV[5!=70! $0,9*%,0!*1!=AGHI!(*!.0)7&%")&3!,($0,,!",!+0,(!20,)$"+02!"%!0%2*(703"&3!)033,!470$0! VOa! !  N_MG=]A!Y! 13*4F.02"&(02!2"3&("*%!&%2!)033-3&$!,($0()7!,0$:0!(*!$0;-3&(0!:&,)-3&$!(*%0!ZJIJF JIb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e13-"2!,70&$!,($0,,!ZJId8JIa[5!?%!)033!)-3(-$0!.*203,!-,"%;!K&2"%FR&$+'!)&%"%0! <"2%0'!)033,8!=AGHI!7&,!&3,*!+00%!20,)$"+02!"%!(70!&9")&3!.0.+$&%0!470$0!"(! &,,*)"&(0,!4"(7!=GAGGJ!Z9*3')',("%FJ[!ZJbU[8!7*40:0$!(70!$030:&%)0!*1!(7",! &,,*)"&("*%!3425350!470$0!+&,*3&(0$&3!=AGHI!3*)&3"D&("*%!",!$09*$(02!",!-%<%*4%5! =AGHI!&%2!=AGGJ!)*.930@0,!&,,*)"&(02!4"(7!(70!9$".&$'!)"3"&!*1!(70!)*330)("%;!2-)(! 09"(703"&!7&:0!+00%!9$*9*,02!(*!1*$.!&!9*3'.*2&3!13*4!,0%,*$5!?%($";-"%;3'8! ,',(0.")!&2."%",($&("*%!*1!(70!,90)"1")!=AGHI!&;*%",(!SC`VUVYaUM!"%!&!$&(!.*203!*1! 9*3')',(")!<"2%0'!2",0&,0!4&,!1*-%2!(*!$02-)0!$0%&3!)',(,!+'!Jd5Im!&%2!&((0%-&(0! 1"+$*,",!+'!bd5Om!ZJbV[5!=70!,"."3&$"("0,!"%!*-()*.0,!*1!9*3')',(")!<"2%0'!2",0&,0! &%2!-$"%&$'!($&)(!*+,($-)("*%!,-;;0,(!(7&(!=AGHI!.&'!,0$:0!&!$*30!"%!(70!,0%,&("*%! *1!&3(0$02!-$"%&$'!13*4!*$!9$0,,-$0F.02"&(02!,($0()7!1*33*4"%;!*+,($-)("*%5! VIU! !  N_MG=]A!Y! U"!"#" .1BPA,<2C%8%2+',F%82, =70!&:&"3&+"3"('!*1!.")0!201")"0%(!1*$!(70!=AGHI!;0%0!9$*:"20,!&%!0@)0330%(! *99*$(-%"('!(*!.0)7&%",(")&33'!0@&."%0!(70!)*%($"+-("*%!*1!=AGHI!(*!(70!$0%&3! $0,9*%,0!1*33*4"%;!-$"%&$'!($&)(!*+,($-)("*%5!=AGHI!<%*)<*-(!Z=$9:IFeF[!.")0!40$0! ;0%0$&(02!"%!(70!3&+!*1!R$5!K&<&(*!C-D-<"!+'!"%,0$("*%!*1!&!97*,97*;3')0$"%0!<"%&,0F %0*.')"%!ZGS`F%0*[!)&,,0((0!"%(*!(70!1*-$(7!0@*%!ZJbJ8JbO[5!L$"013'8!(7",!"%,0$("*%! 4&,!&)7"0:02!(7$*-;7!;0%0$&("*%!*1!&!(&$;0("%;!:0)(*$!)*%(&"%"%;!(70!GS`F%0*! )&,,0((0!4"(7!13&%<"%;!&$.,!*1!7*.*3*;*-,!,0\-0%)0!(*!(70!,"(0!*1!20,"$02! "%,0$("*%!ZJbI[5!M1(0$!030)($*9*$&("*%!"%(*!0.+$'*%")!,(0.,!)033,8!)*3*%"0,!40$0! ,)$00%02!(*!,030)(!1*$!(7*,0!(7&(!-%20$40%(!7*.*3*;*-,!$0)*.+"%&("*%!(*! "%)*$9*$&(0!(70!GS`F%0*!)&,,0((05!=70,0!)3*%0,!40$0!(70%!"%/0)(02!"%(*!NbXeLY! 0.+$'*,!(*!;0%0$&(0!)7".0$")!.")05!N7".0$")!.&30,!40$0!+$02!(*!NbXeLY!.")0!(*! 9$*2-)0!70(0$*D';*-,!*11,9$"%;8!47")7!40$0!,-+,0\-0%(3'!)$*,,02!(*!;0%0$&(0!.")0! 7*.*D';*-,!1*$!(70!=AGHI!2",$-9("*%5!R",$-9("*%!*1!I615'!0@9$0,,"*%!4&,! )*%1"$.02!+'!C*-(70$%!+3*(8!9*3'.0$&,0!)7&"%!$0&)("*%!ZGNA[8!40,(0$%!+3*(("%;8!&%2! 7",(*3*;")&3!,(&"%"%;5! ! K")0!3&)<"%;!=AGHI!0@7"+"(!%*!*-(4&$2!970%*('90!&%2!2",93&'!%*$.&3!&990&$&%)08! ;$*4(78!,"D08!(0.90$&(-$08!10$("3"('8!&%2!+07&:"*$5!_",(*3*;")&33'8!%*!$0%&3!*$!709&(")! &+%*$.&3"("0,!40$0!%*(02!"%!=$9:IFeF!.")0!ZJbU8JbO[5!?%!=AGHI!201")"0%(!.")0!%*! &3(0$&("*%,!*1!(70!030)($*3'(0!)*%)0%($&("*%,!*1!,*2"-.8!9*(&,,"-.8!)&3)"-.!&%2! )73*$"20!40$0!*+,0$:02!"%!(70!,0$-.5!_*40:0$8!2",$-9("*%!*1!=AGHI!4&,!1*-%2!(*! ".9&"$!9$0,,-$0!,0%,&("*%!&%2!&3(0$!,',(0.")!$0;-3&("*%!*1!,0$-.!*,.*3&$"('!"%! VIV! !  N_MG=]A!Y! $0,9*%,0!(*!,&3(!)7&330%;0!ZJbJ8JbO8Jbb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hGJF9*,"(":0!)*330)("%;!2-)(,!*1!+*(7!(70!.02-33&!&%2! )*$(0@5!>"(7"%!(70,0!2-)(,8!=AGHI!4&,!%*(!$0,($")(02!,*303'!(*!MhGJF9*,"(":0! 9$"%)"9&3!)033,8!+-(!4&,!&3,*!*+,0$:02!"%!"%(0$)&3&(02!)033,!ZB";-$0!Y5VL[5!=70,0! 1"%2"%;,!;0%0$&(02!4"(7!(7",!)*..0$)"&33'!&:&"3&+30!9*3')3*%&3!&%("F=AGHI!&%("+*2'! )*$$0,9*%2!4"(7!(7*,0!9$0:"*-,3'!9-+3",702!ZJIX[5!Q*(&+3'8!.?KNRO!)033,!)-3(-$02! *%!)*:0$,3"9,!*$!)7&.+0$!,3"20,!2*!%*(!0@9$0,,!=AGHI!%*$!MhGJ8!3"<03'!2-0!(*!(70! 9**$!9*3&$"D&("*%!&%2!09"(703"&3"D&("*%!*1!)033,!)-3(-$02!*%!,*3"2!,-+,($&(0,5! _*40:0$8!(*!9$*.*(0!)033!9*3&$"('!&%2!&!$09$0,0%(&(":0!2"110$0%("&(02!)*330)("%;!2-)(! 09"(703"&3!)033!3&'0$8!.?KNRO!)033,!40$0!;$*4%!*%!7&%;"%;!)033!)-3(-$0!,-99*$(,5! #%20$!(70,0!)*%2"("*%,8!"..-%*$0&)(":"('!1*$!+*(7!=AGHI!&%2!MhGJ!4&,!*+,0$:02! "%!.?KNRO!)033,8!4"(7!MhGJ!0@9$0,,02!"%!&9")&3!:0,")30,!&%2!=AGHI!3*)&3"D02!(*!(70! 3&(0$&3!.0.+$&%0!*1!.*20$&(0!(*!7";7!20%,"('!)033!.*%*3&'0$,!ZB";-$0!Y5VN[5!!  VIO! !  !"#$%&'(.(  In vivo  In vitro  >FE^O+  >FE^d+  >FE^R+  >FEET+  X)&#-++ JXIKV+ I-11+1.*-+  600  Z\'XR"  400 200  400 200  !&$-%++ X-/&11,+  Z\'XR"  I)%$-5+  .+  4Y'T"  .=+  3=""  >FEER+  600  J**-%++ X-/&11,+  !"#$%$&# 8X)&#-:+  Size (bp)  b3)1-+ X)&#-+ e./*-4+  Z\'XR"N(/$@9[$0(1" 5=""  >FEXf+  >FEXO+ >FEXO+  >FEXd+  >FEXV+  4="Z\'"I\]4"7U?-;&&9(1"  ...+  ..+  ..=+  ...=+  4Y'T"  !"#$%'(&# 8JXIKV:+  89:.-;"2=E>"Z\'XR"7U?-;&&9(1!"#!$%&'"$1J""#!$%()'="89:+0F@9+-5;%-##.)*+)2+#-1-'$-/+ >FE#+ .*+ $3-+ 0)&#-+ M./*-4+ ,*/+ 0JXIKV+ '-11+ 1.*-=+ 8H:+ >FE^d+ ')1)',1.c-#+ 84-11)G:+ $)+ 9_ET<;)#.(D-+ ')11-'(*7+ /&'$#+ .*+ ")$3+ $3-+ ')%$-5+ ,*/+ 0-/&11,+ )2+ $3-+ 0)&#-+ M./*-4=+ J*#-$#+ #3)G+ );;)#.*7+ 3,1D-#+ )2+ )D-%1,;;.*7+ .0,7-#+ /-0)*#$%,(*7+ >FE^d+ ,*/+ 9_ET++ ')1)',1.c,()*+ .*+ ')*(7&)&#+ ;)%()*#+ )2+ $3-+ ')11-'(*7+ /&'$=+ + 8I:+ J*+ JXIKV+ '-11#+ '&1$&%-/+ )*+ 3,*7.*7+ '-11+ '&1$&%-+ .*#-%$#6+ >FE^d+ ;%)$-.*+ .#+ -5;%-##-/+ ,$+ $3-+ 1,$-%,1+ 0-0"%,*-6+G3.1-+9_ET+1)',1.c-#+$)+,;.',1+D-#.'1-#=++  *--(  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p9-33!2*4%q!&%2!9$*+"%;!1*$!]FN&2!&%2!=AGHI5! B-$(70$.*$08!(70!&,,*)"&("*%!*1!.0)7&%*,0%,"(":0!=AGHI!4"(7!(70,0!&270$0%,! /-%)("*%!9$*(0"%,!"%!*-$!<"2%0',!&%2!<"2%0'!)033!3"%0,!,-;;0,(,!&%!"%($";-"%;!! VIb! !  !"#$%&'(.(  3(1P(/$@"/(*@(/$@9[$0(1" 4="  >FE^d+  X-%7-+  !"#$%$&# 8X)&#-:+ A<I,/+  5="  >FE^d+  X-%7-+  A<I,/+  "+I,$+  X-%7-+  !"#$%'(&# 80JXIKV:+ AI,/+  AI,/+  X-%7-+  >FE^d+  "+I,$+  ^ 3*!WII.1(?-;/9?9)$0(1"  "+I,$+  ^  ^ b3)1-+ M./*-4+  X-%7-+  JEg+>FE^d+ >.##&-+  JXIKV+  A<I,/3-%.*+ "+I,$-*.*+ >FE^d+ 89:.-;"2=T>"Z\'XR"3(*@(/$@9[$0(1""#!$%&'"$1J""#!$%()'="89:+>FE^d+;%)$-.*+-5;%-##.)*+ 8C%--*:+ .#+ 1)',1.c-/+ $)+ ",#)1,$-%,1+ 0-0"%,*-#+ )2+ $3-+ ')11-'(*7+ /&'$+ -;.$3-1.,1+ '-11#6+ ,*/+ ')1)',1.c-#+ G.$3+ A<I,/+ 8F-/:6+ G3.'3+ ,1#)+ ')1)',1.c-#+ G.$3+ "I,$+ 8F-/:=+ 8H:+ A5;%-##.)*+ )2+ >FE^d6+ A<I,/6+ ,*/+ "+ I,$+ .*+ 0JXIKV+ '-11#+ '&1$&%-/+ )*+ 3,*7.*7+ '-11+ '&1$&%-+#&;;)%$#=+J*+$3-+'-11+0)*)1,4-%+>FE^d+,*/+A<I,/+')1)',1.c-+.*+,11+'-11#6+G3.1-+ "I,$+ -5;%-##.)*+ .#+ #--*+ .*+ ,%-,#+ G3-%-+ >FE^d+ ,*/+ A<I,/+ -5;%-##.)*+ ,%-+ ,"#-*$+ 8,#$-%.#M:6+%-h-'(*7+"I,$i#+,".1.$4+$)+".*/+)$3-%+0-0"-%#+)2+$3-+I,/3-%.*+2,0.14=+8I:+ J00&*);%-'.;.$,()*+ #$&/.-#+ &#.*7+ ,*+ ,*(<>FE^d+ j;&11</)G*k+ #3)G+ ')<;%-'.;.$,()*+ )2+ A<I,/+ ,*/+ "I,$+ .*+ 0)&#-+ M./*-4+ ,*/+ 0JXIKV+ ;%)$-.*+ 14#,$-#6+ ')*Z%0.*7+ $3-+ 2)%0,()*+)2+')0;1-5-#+)2+$3-#-+V+;%)$-.*#=++ *-.(  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a!2&',!*1!*+,($-)("*%8!"%!(70!"%%0$! .02-33&8!I615'2.AQM!0@9$0,,"*%!4&,!.&$<023'!$02-)02!+'!YO!n!YXm!ZB";-$0!Y5OL[5!! ?%!)*%($&,(8!*-(0$!.02-33&$'!I615'2;0%0!0@9$0,,"*%!4&,!"%)$0&,02!+'!JY!(*!Jdm! *:0$!(70!,&.0!90$"*25!?%!<"2%0'!9$*(0"%!3',&(0,8!=AGHI!9$*(0"%!0@9$0,,"*%!0@7"+"(02! &!$0,9*%,0!"%(0$.02"&(0!(*!(70!"%%0$!.02-33&!&%2!*-(0$!.02-33&!;0%0!0@9$0,,"*%!!  VIX! !  !"#$%&'(.(  4="N(/$@9[$0(1+  !"#$%&'()*+  P3,0+  V+/,4+  W+/,4+  !&$-%+ X-/&11,+  J**-%+ X-/&11,+  5="Z\'XR"I\]4"N;O;@&" +.);-"" M;J.@@$"  CH(@;"_9J1;%"" N%&$);"  R=U+  R=U+ >FE^d+B-D-1#+  >FE^d+0F@9+B-D-1#+  W11;-"" M;J.@@$"  3="Z\'XR"N;O;@&"  R=S+ S=U+ S+  V+  W+  V+  P3,0+  !"#$%&'$-/+  K,4#+)2+!"#$%&'()*+  W+  R=S+ S=U+ S+  P3,0+ P3,0+  V+K,4+  W+K,4+  !"#$%&'$-/+  89:.-;"2=!>"Z\'XR"#.-91:"+,&)-./0(1="89:+>FE^d+;%)$-.*+1)',1.c-#+$)+$3-+",#)1,$-%,1+ 0-0"%,*-+ )2+ $3-+ ')11-'(*7+ /&'$+ '-11+ G.$3+ /.[&#-+ '4$);1,#0.'+ -5;%-##.)*+ .*+ ')*$%)1+ ,*/+#3,0<);-%,$-/+M./*-4#=+N)11)G.*7+)"#$%&'()*6+",#)1,$-%,1+-5;%-##.)*+)2+>FE^d+.*+ ")$3+ $3-+ .**-%+ ,*/+ )&$-%+ 0-/&11,+ ')11-'(*7+ /&'$+ '-11#+ .*$-*#.Z-#6+ G3.1-+ '4$);1,#0.'+ >FE^d+ -5;%-##.)*+ .#+ %-/&'-/=+ 8H:+ lEIF+ ,*,14#.#+ )2+ + BIX<',;$&%-/+ .**-%+ 0-/&11,+ )%+ )&$-%+0-/&11,+(##&-+.*/.',$-#+#.7*.Z',*$14+%-/&'-/+7-*-+-5;%-##.)*+)2+>FE^d+.*+$3-+ .**-%+ 0-/&11,6+ G.$3+ 0)/-#$+ .*'%-,#-#+ .*+ $3-+ )&$-%+ 0-/&11,6+ ,$+ V+ ,*/+ W+ /,4#+ ;)#$< )"#$%&'()*=+8I+:+J*+M./*-4+14#,$-#6+>FE^d+;%)$-.*+1-D-1#+#3)G+0.1/+%-/&'()*+,$+V+/,4#6+ G.$3+*)+'3,*7-+,$+W+/,4#=+A%%)%+",%#+Q+#$,*/,%/+/-D.,()*=+@+Q+V+,*.0,1#=+P',1-+",%+Q+ TU+µ0=+ *-/(  N_MG=]A!Y! ,  )7&%;0,8!4"(7!&!$02-)("*%!*1!JIm!&(!O!2&',!9*,(F*+,($-)("*%8!+-(!%*!)7&%;0!&1(0$!a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hGJ!&%2!=AGHI!Z2",)-,,02!"%!,0)("*%!Y5O[5!=AGHI!&)(":"('!4&,!,(".-3&(02!-,"%;!(70! =AGHIF,90)"1")!&;*%",(!SC`VUVYaUM!&%2!"%7"+"(02!-,"%;!(70!=AGHF1&."3'!"%7"+"(*$! $-(70%"-.!$02!ZAA[!ZJIJ8JIO[5!=*!20(0$."%0!&99$*9$"&(0!&;*%",(!2*,"%;8!(70!(".0! &%2!2*,0!$0,9*%,0,!40$0!0@&."%02!-,"%;!($0&(.0%(,!*1!b%K8!JU%K8!bU%K8!&%2! VUU%K!SC`VUVYaUM!1*$!JI8!Id8!*$!XJ!7*-$,5!=$0&(.0%(!4"(7!VUU%K!SC`VUVYaUM! $0,-3(02!"%!)033!(*@")"('8!47"30!3*40$!2*,0,!$0,-3(02!"%!2*,0F2090%20%(!&3(0$&("*%,!"%! .*%*3&'0$!*$;&%"D&("*%!&%2!)033!.*$97*3*;'5!=70,0!0110)(,!40$0!3"."(02!(*!3*)&3"D02! $0;"*%,!&(!(70!3*40$!2*,0,!*1!b%K!&%2!JU%K!SC`VUVYaUM8!47"30!bU%K!($0&(.0%(! "%2-)02!4"20,9$0&2!.*$97*3*;")&3!)7&%;0,!4"(7*-(!,";%"1")&%(3'!".9&"$"%;!)033! ;$*4(75!N7&%;0,!"%!)033!.*$97*3*;'!40$0!*+,0$:02!1*33*4"%;!JI!7*-$,!*1! ,(".-3&("*%8!&%2!40$0!.*$0!9$*%*-%)02!&(!Id!&%2!XJ!7*-$,5!=70!.&@".&3!$0,9*%,0! 4&,!*+,0$:02!&1(0$!XJ!7*-$,!*1!($0&(.0%(!4"(7!bU%K!SC`VUVYaUM8!&%2!(70,0! VIa! !  N_MG=]A!Y! )*%2"("*%,!40$0!-,02!1*$!(70!,-+,0\-0%(!.*$97*3*;")&3!&%2!9$*(0"%!,(-2"0,!ZB";-$0! Y5IM[5!B*$!)033!1$&)("*%&("*%!,(-2"0,8!bU%K!SC`VUVYaUM!($0&(.0%(!4&,!-,02!1*$!b! ."%-(0,8!V!7*-$8!Y!7*-$,8!&%2!JI!7*-$,5! ! =70!0110)(!*1!SC`VUVYaUM!($0&(.0%(!*%!)033!.*$97*3*;'!4&,!0@&."%02!+'! 13-*$0,)0%(!"..-%*7",(*)70.",($'!1*33*4"%;!$0.*:&3!&%2!,(&"%"%;!*1!(70!.0.+$&%0! 1$*.!7&%;"%;!)033!)-3(-$0!"%,0$(,5!.?KNRO!.*%*3&'0$,!%*$.&33'!0@7"+"(!$0;-3&$3'! 9&((0$%02!)*++30,(*%0!.*$97*3*;'!-9*%!$0&)7"%;!.*20$&(0!(*!7";7!20%,"('!4"(7!)*F 3*)&3"D&("*%!*1!]FN&2!&%2,"N&(!&(!(70!"%(0$)033-3&$!/-%)("*%,5!B*33*4"%;!SC`VUVYaUM! ($0&(.0%(!1*$!XJ!7*-$,8!.?KNRO!)033,!0@7"+"(!&!,-+,(&%("&33'!&3(0$02!)033-3&$! .*$97*3*;'5!=$0&(02!)033,!2",93&'!&!,9"%230F,7&902!*$!1-,"1*$.!.*$97*3*;'!&%2! *$;&%"D0!"%(*!&3";%028!$"2;0F3"<0!,($-)(-$0,5!Q*(&+3'8!(70,0!)7&%;0,!$0,0.+30!,"."3&$! )7&%;0,!1*33*4"%;!($0&(.0%(!*1!.?KNRO!)033,!4"(7!=SB"FV!ZI[5!B-$(70$.*$08! SC`VUVYaUM!($0&(.0%(!&3,*!2",$-9(,!(70!&,,*)"&("*%!*1!]FN&2!&%2!"N&(8!$0,-3("%;!"%! 2",$-9("*%!*1!(70!)*.930@0,!&%2!2",3*)&("*%!*1!"N&(!(*!(70!)033-3&$!)'(*93&,.!! ZB";-$0!Y5IM[5!N*F($0&(.0%(!*1!)033,!4"(7!bU%K!SC`VUVYaUM!&%2!VUµK!AA!$0,(*$02! %*$.&3!.*$97*3*;'5! ! =*!"%:0,(";&(0!(70!0110)(,!*1!=AGHI!&)(":&("*%!*%!(70!)033!9$*(0"%!30:03,!*1!=AGHI8!]F N&28!&%2!"N&(8!9$*(0"%!3',&(0,!40$0!)*330)(02!1$*.!)*%($*38!SC`VUVYaUM8! SC`VUVYaUM!&%2!AA8!&%2!AAF*%3'!($0&(02!)033,5!B*33*4"%;!XJF7*-$,!*1!($0&(.0%(! 4"(7!bU%K!SC`VUVYaUM8!(70!$03&(":0!30:03,!*1!"N&(8!]FN&2!&%2!=AGHI!20)$0&,02!+'! OXm8!IIm8!&%2!YIm!$0,90)(":03'5!N*F"%)-+&("*%!*1!bU%K!SC`VUVYaUM!4"(7!VUµK!! VbU! !  !"#$%&'(.(  4="M(-?H(@(:%" 97)*.#$++ US+*X+CPeRSROfSWS9+  I)*$%)1+ 7*3$J"  7*3$J"  M;-:;"  M;-:;"  "3$)"  "3$)"  F-1,(D-+B-D-1#+  5="'-();91"N;O;@&" R=S+  I)*$%)1+ US*X+CPeRSROfWS9+ US*X+CPeRSROfWS9++ a+RSµX+FF+  S=U+  RSµX+FF+  S+ "I,$+  A<I,/+  >FE^d+  89:.-;" 2=R>" Z\'XR" 4/0O$0(1" "#! $%()'=" 89:+ P(0&1,()*+ )2+ 0JXIKV+ '-11#+ '&1$&%-/+ )*+ 3,*7.*7+ '-11+ '&1$&%-+ #&;;)%$#+ G.$3+ CPeRSROWS9+ ,1$-%#+ 0)*)1,4-%+ 0)%;3)1)74+ 8,%%)G#:+ ,*/+ /.#%&;$#+ A<I,/m"I,$+ ')1)',1.c,()*=+ 8H:+ CPeRSROWS9+ #(0&1,()*+ ,1#)+ #.7*.Z',*$14+ %-/&'-#+ A<I,/6+ "I,$+ ,*/+ >FE^d+ ;%)$-.*+ -5;%-##.)*+ .*+ 0JXIKV+ '-11#+ ,#+ /-0)*#$%,$-/+ "4+ b-#$-%*+ "1)$+ ,*,14#.#+ )2+ '-11+ 14#,$-#6+ G3.1-+ ')<.*'&",()*+ G.$3+ $3-+ >FE^+,*$,7)*.#$+FF6+)%+$%-,$0-*$+G.$3+FF+,1)*-6+%-#$)%-#+A<I,/+,*/+"I,$+-5;%-##.)*+ ,*/+ ;,%(,114+ %-#$)%-#+ >FE^d+ -5;%-##.)*=+ P',1-+ ",%+ Q+ TU+ µ0=+ A%%)%+ ",%#+ Q+ #$,*/,%/+ /-D.,()*=+@+Q+V+-5;-%.0-*$#=+  *)*(  N_MG=]A!Y! ,  AA!*$!($0&(.0%(!4"(7!VUµK!AA!&3*%0!$0,(*$02!]FN&2!&%2!"N&(!9$*(0"%!(*!)*%($*3! 30:03,5!=AGHI!9$*(0"%!30:03,!40$0!9&$("&33'!$0,(*$02!1*33*4"%;!)*F"%)-+&("*%!*1! bU%K!SC`VUVYaUM!4"(7!VUµK!AA!*$!($0&(.0%(!4"(7!VUµ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bYF JYV[8!7&:0!$&",02!\-0,("*%,!*1!&!9*,,"+30!($&%,)$"9("*%&3!.*2-3&("%;!$*30!1*33*4"%;! "(,!($&%,3*)&("*%5! ! =70$01*$08!(*!"%:0,(";&(0!470(70$!=AGHI!&)(":&("*%!$0,-3(,!"%!%-)30&$!&))-.-3&("*%! *1!0"(70$!]FN&2!*$!"N&(8!)033!1$&)("*%&("*%!0@90$".0%(,!40$0!90$1*$.02!*%!)033,! ,(".-3&(02!4"(7!bU%K!SC`VUVYaUM!1*$!b!."%-(0,8!V!7*-$8!Y!7*-$,!&%2!JI!7*-$,!&%2! )*.9&$02!(*!-%($0&(02!)033,5!L*(7!]FN&2!&%2!"N&(!&$0!20(0)(02!&(!)*%,(&%(!30:03,!"%! (70!)'(*93&,.")!1$&)("*%,!&(!&33!(".0!9*"%(,5!?%!(70!%-)30&$!1$&)("*%8!+*(7!"N&(!&%2!]F N&2!"%)$0&,02!1*33*4"%;!,(".-3&("*%!1*$!b!."%-(0,!ZX5bF1*32!&%2!I5IF1*32!  VbJ! !  N_MG=]A!Y! $0,90)(":03'[!&%2!V!7*-$!Zb5XbF1*32!&%2!J5IbF1*32!$0,90)(":03'[!ZB";-$0!Y5b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eF!.")05!>7"30! 0@90$".0%(&("*%!&%2!&%&3',",!*1!(70!$0,-3(,!*1!(70,0!9$*)02-$0,!",!*%;*"%;8! 9$03"."%&$'!\-&3"(&(":0!$0,-3(,!9$*:"20!,*.0!"%($";-"%;!"%"("&3!"%,";7(,!"%(*!(70!0110)(! *1!=AGHI!201")"0%)'!1*33*4"%;!*+,($-)("*%5!C-$;")&3!3";&("*%!*1!=$9:IFeF!.")0!4&,! 90$1*$.02!&,!9$0:"*-,3'!20,)$"+02!"%!*-$!4"32!('90!.")08!&%2!<"2%0',!40$0! )*330)(02!1*33*4"%;!J!&%2!Y!2&',!*1!*+,($-)("*%5!! ! 6+,($-)(02!<"2%0',!1$*.!=$9:IFeF!.")0!0@7"+"(02!(70!)7&$&)(0$",(")!;$*,,!9&(7*3*;'! *1!##6!"%)3-2"%;!7'2$*%097$*,",8!-$0(0$")!2",(0%("*%!&%2!)&3')0&3!0@9&%,"*%5!?%! ,7&.F*90$&(02!&%".&3,8!=$9:IFeF!<"2%0',!2",93&'02!"%)$0&,02!#CKM! "..-%*$0&)(":"('!"%!(70"$!*-(0$!.02-33&$'!"%(0$,("("-.!)*.9&$02!(*!4"32!('90!.")05!!  VbO! !  !"#$%&'(.(  ]./@;$-" I+  3%)(?@$&I9/"  U0+ R3+ O3+ Td3+  I+  U0+ R3+ O3+ Td3+  "I,$+ A<I,/+ ^.*'+ I%-"+  ]./@;$-"'-();91"8-$/0(1" O=TU+  F-1,(D-+B-D-1#+  RS=S+  d=WR+ V=UR+  U=S+  R=Wn+ R=RR+  S=UV+  O+3%+  Td+3%+  S=df+  S=dS+  O+3%+  Td+3%+  R=S+ S+ I$%1+  U+0.*+  R+3%+  "3$)"  I$%1+  U+0.*+  R+3%+  7*3$J"  89:.-;"2=<>"]./@;$-"Z-$1&@(/$0(1"8(@@(A91:"Z\'XR"4/0O$0(1=">%-,$0-*$+)2+0JXIKV+ '-11#+ G.$3+ CPeRSROWS9+ ',&#-#+ %,;./+ $%,*#1)',()*+ )2+ ")$3+ "I,$+ ,*/+ A<I,/+ $)+ $3-+ *&'1-,%+')0;,%$0-*$6+,#+/-0)*#$%,$-/+"4+b-#$-%*+"1)$+,*,14#.#+)2+;%)$-.*+)"$,.*-/+ ,o-%+ '-11+ 2%,'()*,()*=+ ^.*'+ ,*/+ I%-"+ ,%-+ &#-/+ ,#+ '4$);1,#0.'+ ,*/+ *&'1-,%+ ')*$%)1#+ %-#;-'(D-14=+ + I%-"+ G,#+ *)$+ /-$-'$-/+ .*+ '4$);1,#0.'+ 2%,'()*#=+ A%%)%+ ",%#+ Q+ #$,*/,%/+ /-D.,()*=+@+Q+V+-5;-%.0-*$#=+  *)-(  N_MG=]A!Y! ,  Q*!*(70$!2"110$0%)0,!40$0!%*(02!+0(400%!(70!=AGHI!201")"0%(!&%2!4"32!('90!,7&.! <"2%0',5! ,  B3-*$0,)0%(!"..-%*7",(*)70.")&3!&%&3',",!*1!J!&%2!Y!2&'!*+,($-)(02!<"2%0',!1$*.! =$9:IFeF!.")0!$0:0&302!&!3*,,!*1!MhGJn9*,"(":0!9$"%)"9&3!)033,!&%2!:M=G&,0F9*,"(":0! "%(0$)&3&(02!)033,!,"."3&$!(*!4"32!('90!.")05!=70!+&,*3&(0$&3!3*)&3"D&("*%!*1!]FN&2!&%2! "N&(!4&,!*+,0$:02!"%!=AGHI!201")"0%(!.")0!20,9"(0!(70!3&)<!*1!=AGHI!+-(!&22"("*%&3! &%&3',",!4"(7!)*%1*)&3!.")$*,)*9'!",!$0\-"$02!(*!20(0$."%0!"1!(70!&,,*)"&("*%!*1!]F N&2!&%2!"N&(!2"110$,!1$*.!4"32!('90!.")05!! ! 6+,($-)(02!<"2%0',!1$*.!=$9:IFeF!.")0!2*!2",93&'!,*.0!"%($";-"%;!2"110$0%)0,!1$*.! &;0F.&()702!4"32!('90!*+,($-)(02!<"2%0',5!=$9:IFeF!<"2%0',!20.*%,($&(02! "%)$0&,02!)*330)("%;!2-)(!&%2!2",(&3!)*%:*3-(02!(-+-30!2"3&(&("*%!9*,(F*+,($-)("*%5! 6+,($-)(02!=$9:IFeF!<"2%0',!&3,*!20.*%,($&(02!"%)$0&,02!"%(0$,("("&3!#CKM! 0@9$0,,"*%!,-$$*-%2"%;!(70!"%($&3*+-3&$!:0,,03,!&%2!2"3&(02!(-+-30,!"%!(70!)*$(0@5! M22"("*%&33'8!&%2!"%!)*%($&,(!(*!(70!1"%2"%;,!"%!(70!$0%&3!)*$(0@8!.02-33&$'!"%(0$,("("&3! #CKM!"..-%*$0&)(":"('!4&,!."323'!20)$0&,025!#,"%;!.*$97*.0($")!&%&3',",!&,! 20,)$"+02!"%!N7&9(0$!b8!(70!&$0&!*1!#CKM!"..-%*$0&)(":"('!"%!*+,($-)(02!=$9:IFeF! <"2%0',8!47"30!$02-)02!470%!)*.9&$02!(*!*+,($-)(02!4"32!('90!.")0!4&,!%*(! ,(&(",(")&33'!,";%"1")&%(!ZGrU5Ubb[!&(!J!2&',!9*,(F*+,($-)("*%!ZB";-$0!Y5Y[5!B-$(70$! &%&3',",!*1!&22"("*%&3!=$9:IFeF!<"2%0',!&%2!\-&%("1")&("*%!*1!3&(0$!(".0!9*"%(,!4"33! )3&$"1'!(70!9*(0%("&3!)7&%;0,!"%!"%(0$,("("&3!#CKM5!?%(0$0,("%;3'!&1(0$!Y!2&',!*1! *+,($-)("*%8!=$9:IFeF!<"2%0',!0@7"+"(02!(70!&3.*,(!)*.930(0!&+,0%)0!*1!&9*9(*,",!"%!! Vbb! !  !"#$%&'(.(  Z.,.@$-"#9@$)$0(1+ 4=+  b.1/+$4;-+  >FE^d<m<+  I)%$-5+ 8D9>E,#-:+  5=+ X-/&11,+ 89_ET:+  3="W1);-&00$@""!GM4+  I)%$-5+ 8!PX9:+  89:.-;" 2=2>" +,&)-./0(1" 91" Z-?OR*`*" M9/;=" ??!+ ',&#-#+ 0)%-+ #-D-%-+ /.1,$,()*+ )2+ 89:+ ')%(',1+ /.#$,1+ ')*D)1&$-/+ $&"&1-+ ,*/+ ')11-'(*7+ /&'$#+ 8D9>E,#-6+ C%--*:+ ,*/+ )2+ 8H:+ 0-/&11,%4+ 9_ET+ aD-+ ')11-'(*7+ /&'$#+ 8%-/:+ .*+ >%;Dd<m<+ 0.'-+ $3,*+ .*+ G.1/+ $4;-+ )"#$%&'$-/+,*.0,1#=+8I:+J*$-%#((,1+!PX9+-5;%-##.)*+#&%%)&*/.*7+/.1,$-/+')%(',1+/.#$,1+ ')*D)1&$-/+ $&"&1-#+ ,*/+ ')11-'(*7+ /&'$#+ G,#+ .*'%-,#-/+ .*+ )"#$%&'$-/+ >%;Dd<m<+ 0.'-+ G3-*+')0;,%-/+$)+,7-<0,$'3-/+)"#$%&'$-/+G.1/+$4;-+0.'-=+P',1-+",%+Q+RSS+µ0=+K,4+ Tg+@Q+V6+K,4+Og+@QT+-5;-%.0-*$#=+  *).(  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e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bX! !  !"#$%&'(.(  b.1/+$4;-+  >FE^d<m<+  4="+ K.#$,1++ I)*D)1&$-/++ >&"&1-+ 8D9>E,#-:+  5="+ I)11-'(*7++ K&'$+ 8D9>E,#-:+  89:.-;" 2=S>" 4?(?)(&9&" 91" Z-?OR*`*" M9/;" 8(@@(A91:" BB+=" 9o-%+ O+ /,4#+ )2+ )"#$%&'()*6+ >%;Dd<m<+ 0)&#-+ M./*-4#+ /.#;1,4+ ,+ /-'%-,#-+ .*+ IK+ -;.$3-1.,1+ '-11+ ,;);$)#.#6+ 0)#$+ *)$,"14+.*+89:+/.1,$-/+')%(',1+/.#$,1+')*D)1&$-/+$&"&1-#+8,%%)G:+,*/+8H:+/.1,$-/+')%(',1+ ')11-'(*7+/&'$#+8,%%)G3-,/:+G3-*+')0;,%-/+$)+')%%-#;)*/.*7+)"#$%&'$-/+G.1/+$4;-+ M./*-4#=+8>?@AB+#$,.*6+F-/:+8D9>E,#-6+C%--*:=+P',1-+",%+Q+TU+µ0=+K,4+Tg+@Q+V6+K,4+Og+ @QT+-5;-%.0-*$#=+  *)/(  N_MG=]A!Y! ,  .*-,0!ZJYJ[5!=70,0!)033,!7&:0!+00%!)7&$&)(0$"D02!&,!9$"%)"9&3!)033,!+&,02!-9*%!(70"$! 1-%)("*%&3!)7&$&)(0$",("),!"%)3-2"%;!,*2"-.!13-@8!;$*4(7!1&)(*$!$0,9*%,":0%0,,!&%2! *,.*(")!(*30$&%)0,5!=7",!"20%("1")&("*%!&;$00,!4"(7!(70!)*.9*,"("*%!*1!(70!(0$."%&3! "%%0$!.02-33&$'!)*330)("%;!2-)(8!47")7!",!)*.9$",02!,*303'!*1!9$"%)"9&3!)033,5! _*40:0$8!"%!4*$<"%;!4"(7!(7",!)033!3"%0!&%2!*(70$,8!40!7&:0!*+,0$:02!(7&(!09"(703"&3! )033,!)-3(-$02!-,"%;!,(&%2&$2!.0(7*2,!*%!93&,(")!*$!;3&,,!,-$1&)0,!0@7"+"(!".9&"$02! 3*)&3"D&("*%!*1!<0'!9$*(0"%,!&%2!,-$1&)0!.&$<0$,5!?%!9&$(")-3&$8!.?KNRO!)033,! )-3(-$02!*%!,*3"2!,-+,($&(0,!1&"3!(*!0@9$0,,!(70!9$".&$'!9$"%)"9&3!)033!.&$<0$8!MhGJ5! =*!$0,(*$0!(7",!1-%)("*%&3"('8!,*.0!,(-2"0,!7&:0!-,02!($&%,10)("*%!,',(0.,!(*! *:0$0@9$0,,!Mh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e+&,&3!9*3&$"('!30&2"%;!(*!".9&"$02!($&11")<"%;! &%2!3*)&3"D&("*%!*1!9$*(0"%,!(*!(70"$!&99$*9$"&(0!.0.+$&%0!3*)&("*%5!! ! =*!+0((0$!$0)$0&(0!(70!0%2*;0%*-,!342535020%:"$*%.0%(8!40!)-3(-$02!.?KNRO!)033,! *%!7&%;"%;!)033!)-3(-$0!"%,0$(,5!=70,0!"%,0$(,!7&:0!,09&$&(0!&9")&3!&%2!+&,*3&(0$&3! .02"&!)7&.+0$,!2":"202!+'!&!9*$*-,!9*3'0,(0$!.0.+$&%05!>70%!;$*4%!-%20$! (70,0!)*%2"("*%,8!.?KNRO!)033,!0@7"+"(!&!.*$0!2"110$0%("&(02!09"(703"&3!970%*('90! &%2!0@9$0,,!MhGJ!&99$*9$"&(03'!"%!&9")&3!:0,")30,5!B-$(70$.*$08!"%!)033,!;$*4%!*%! Vba! !  N_MG=]A!Y! "%,0$(,8!=AGHI!0@9$0,,"*%!+0)*.0,!&99&$0%(8!4"(7!2"11-,0!)'(*93&,.")! "..-%*$0&)(":"('!*+,0$:02!"%!3*4F20%,"('!)033,8!&%2!+&,*3&(0$&3!3*)&3"D&("*%! *+,0$:02!&(!.*20$&(0!(*!7";7!)033!20%,"('5!=70!,($0%;(7,!*1!(7",!)033!)-3(-$0!.*203! &$0!(7&(!"(!90$."(,!&99$*9$"&(0!09"(703"&3!2"110$0%("&("*%!&%2!&33*4,!&99$*9$"&(0! 0@9$0,,"*%!*1!=AGHI!"%!&!1&,7"*%!(7&(!9&$&3303,!(7&(!*+,0$:02!34253505!B-$(70$.*$08!"(! &33*4,!(70!2"$0)(!,(-2'!*1!(70!$*30!*1!=GAHI!-,"%;!(70!=AGHIF,90)"1")!&;*%",(! SC`VUVYa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N_MG=]A!Y! 4"(7!&270$0%,!/-%)("*%!9$*(0"%,!$&",0,!(70!"%($";-"%;!9*,,"+"3"('!*1!2"$0)(! "%(0$&)("*%8!&%2!(7-,!&!9*,,"+30!3"%<!+0(400%!=AGHI!&)(":&("*%!&%2!]FN&2F.02"&(02! &270$0%,!/-%)("*%!2",$-9("*%5!=70!1-%)("*%!*1!]FN&2!",!2090%20%(!-9*%!N&Jj!1*$!+*(7! "(,!,($-)(-$0!&%2!"%(0$&)("*%!4"(7!]FN&2!1$*.!&2/&)0%(!)033,5!=AGHI8!&,!&!)&("*%! )7&%%03!4"(7!N&Jj!,030)(":"('8!.&'!93&'!&%!".9*$(&%(!$*30!"%!]FN&2F.02"&(02! &270,"*%!:"&!N&Jj!&:&"3&+"3"('5!C*<&+0!</2AC?!7&:0!,7*4%!(7&(!=AGHI!"%13-0%)0,!(70! 1*$.&("*%!&%2!(";7(%0,,!*1!)033F)033!/-%)("*%,8!4"(7!=AGHI!201")"0%)'!&3(0$"%;!*$! 203&'"%;!09"(703"&3!.&(-$&("*%!ZJOY[5!=70'!7'9*(70,"D0!(7&(!=AGHI!.&'!$0;-3&(0! )033F)033!/-%)("*%!1*$.&("*%!+'!,0$:"%;!&,!&!,)&11*32!1*$!]FN&2P"N&(!&,,*)"&("*%8!*$!+'! .*2-3&("%;!N&Jj!&:&"3&+"3"('!(*!0%7&%)0!/-%)("*%!1*$.&("*%5!?%!*+,($-)("*%8! .0)7&%*,0%,&("*%!*1!97',")&3!,($&"%!+'!=AGHI!.&'!$0:0$,0!(7",!9$*)0,,8! )*%($"+-("%;!(*!]FN&2!2",3*)&("*%!&%2!($&%,3*)&("*%!*1!"N&(!(*!(70!%-)30-,5!! ! 6-$!3425350!&%2234253/60!$0,-3(,!,-99*$(!(7",!7'9*(70,",5!!4253508!40!7&:0!20,)$"+02! (70!2",$-9("*%!*1!]FN&2!3*)&3"D&("*%5!!4253/608!40!7&:0!,7*4%!(7&(!=AGHI!&)(":&("*%! $0,-3(,!"%!&3(0$02!)033-3&$!.*$97*3*;'!)*%,",(0%(!4"(7!)7&%;0,!*+,0$:02!1*33*4"%;! =SB"FV!,(".-3&("*%!ZI[5!=AGHI!&)(":&("*%!&3,*!&3(0$,!(70!9$*(0"%!&+-%2&%)0!&%2! )*3*)&3"D&("*%!*1!]FN&2!&%2!"N&(8!&%2!9$*.*(0,!($&%,3*)&("*%!*1!+*(7!9$*(0"%,!(*!(70! %-)30-,5!=70,0!1"%2"%;,!2"$0)(3'!3"%<!=AGHI!4"(7!&!9-(&(":0!.0)7&%",.!1*$! 9$*.*("%;!2*4%,($0&.!($&%,)$"9("*%&3!$0;-3&("*%!&%2!&)(":&("*%!*1!$0,9*%,0!;0%0,5!! ! B"%&33'8!9$03"."%&$'!*+,0$:&("*%,!"%!=$9:IFeF!.")0!1*33*4"%;!*+,($-)("*%!1-$(70$! ,-99*$(!(7",!7'9*(70,",8!&%2!,-;;0,(!(7&(!&)(":&("*%!*1!=AGHI!"%!4"32!('90!.")0!.&'! VYV! !  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bb8VbdFVYU[5!=70,0!1&)(*$,!&$0!+03"0:02!(*!2$":0! "%13&..&("*%!&%2!"%2-)0!(-+-3&$!&9*9(*,",!&%2!&($*97'!(7&(!-3(".&(03'!"%"("&(0,!(70! 9$*;$0,,"*%!*1!1"+$*,",5! ! VYO! !  N_MG=]A!X! _*40:0$8!,0:0$&3!<0'!1&)(*$,!&$0!-%20$&99$0)"&(02!"%!(7",!9&$&2";.W!"%!9&$(")-3&$! (70!)*%($"+-("*%,!*1!(70!0&$3'!97',")&3!.&%"10,(&("*%,!*1!*+,($-)("*%8!,-)7!&,!(70! &))-.-3&("*%!*1!-$"%0!&%2!(70!"%)$0&,0!"%!"%($&$0%&3!9$0,,-$0!ZVJa8VOU[5! B-$(70$.*$08!(70!9*(0%("&3!)*%($"+-("*%,!*1!*(70$!,0;.0%(,!*1!(70!%097$*%!7&:0! +00%!3&$;03'!";%*$025!=*!".9$*:0!*-$!-%20$,(&%2"%;!*1!(70!9&(7*97',"*3*;'!*1!(70! 9$*;$0,,"*%!*1!*+,($-)(":0!"%/-$'8!&!+$*&20$!-%20$,(&%2"%;!*1!(70!)*%($"+-("*%!*1! (70,0!0&$3'!0:0%(,!&%2!97',")&3!,($0,,0,!*%!*(70$!(-+-3&$!,0;.0%(,!",!$0\-"$025!!  TILI  $QR96?5J9*8KE*46<>9*<C*,79=5=*  =70!*+/0)(":0!*1!(70!4*$<!9$0,0%(02!"%!(7",!(70,",!4&,!(*!"%:0,(";&(0!(70!$*30!*1! )*330)("%;!2-)(!"%/-$'!&%2!$0.*203"%;!1*33*4"%;!-$"%&$'!($&)(!*+,($-)("*%5!?%(0$0,(!"%! (70!)*330)("%;!2-)(!*$";"%&(0,!1$*.!*+,0$:&("*%,!"%!)3"%")&3!)&,0,!*1!7-.&%!10(&3! *+,($-)("*%!470$0!)*330)("%;!2-)(!9&(7*3*;'!",!9$*."%0%(8!9&$(")-3&$3'!"%!(70!<"2%0'! .02-33&5!#$"%&$'!*+,($-)("*%!"%!(70!10(&3!%*%F7-.&%!9$".&(0!)*%1"$.,!(70!$030:&%)0! *1!(70,0!*+,0$:&("*%,8!&%2!9$*:"20,!&!-,01-3!.*203!(*!"%:0,(";&(0!(70!"%/-$'!1-$(70$5!! ! >0!7&:0!"%:0,(";&(02!&%2!)7&$&)(0$"D02!(7$00!2"110$0%(!)*%,0\-0%)0,!*1! *+,($-)("*%5!B"$,(8!40!7&:0!,(-2"02!<"2%0',!1$*.!9&(7*3*;")&3!,90)".0%,!1$*.! 10(-,0,!&%2!'*-%;!"%1&%(,!,-110$"%;!1$*.!-$"%&$'!($&)(!*+,($-)("*%5!?%!%*$.&3!7-.&%! 10(&3!<"2%0',8!40!7&:0!20,)$"+02!(70!*%(*;0%'!*1!)*330)("%;!2-)(!"%(0$)&3&(02!)033! .&(-$&("*%!&%2!)7&$&)(0$"D02!(70!$0.*203"%;!(7&(!*))-$,!1*33*4"%;!*+,($-)("*%5! C0)*%28!40!7&:0!-,02!(70!10(&3!9$".&(0!.*2038!47")7!)3*,03'!$0)&9"(-3&(0,!(70! 9&(7*3*;'!*1!10(&3!7-.&%!*+,($-)("*%8!(*!$0)$0&(0!&%2!,(-2'!(70!)*330)("%;!2-)(!  VYI! !  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b[5!?%!*+,($-)(02!<"2%0',!*1!+*(7!(70!7-.&%!&%2! VYb! !  N_MG=]A!X! 9$".&(08!40!7&:0!&3,*!,7*4%!(7&(!(70,0!)7&%;0,!40$0!&,,*)"&(02!4"(7!".9&"$02! 20:03*9.0%(!*$!202"110$0%("&("*%!*1!(70!)*330)("%;!2-)(!09"(703"-.!ZJ8b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b8JYY[5!L&$$"0$!1-%)("*%!",!0,,0%("&3!(*!.&"%(&"%"%;!(70!,09&$&("*%!*1!(70!%*@"*-,! 0@(0$%&3!0%:"$*%.0%(!1$*.!(70!203")&(03'!+&3&%)02!&%2!1"%03'!(-%02!"%(0$%&3!."3"0-5! ?%!(7",!3";7(8!40!7&:0!9$0:"*-,3'!9$*9*,02!&!9&$&2";.!1*$!(70!)*330)("%;!2-)(! 09"(703"&3!$0,9*%,0!(*!"%/-$'!(7&(!)0%(0$02!*%!(7",!)$-)"&3!&,90)(!*1!)*330)("%;!2-)(! 09"(703"&3!+"*3*;'!ZB";-$0!I5a[!ZJ[5!=7",!9&$&2";.!,-;;0,(,!(7&(!(70!.&%'!10&(-$0,! 20,)$"+02!70$0"%!&$0!%*(!,".93'!0110)(,!*1!*+,($-)(":0!"%/-$'8!+-(!$&(70$!$09$0,0%(!&! ,90)"1")!&%2!&)(":0!$0,9*%,0!(*!"%/-$'5!=7",!$0,9*%,0!",!&".02!&(!9$0:0%("%;!(70!3*,,! *1!+&$$"0$!1-%)("*%!)&-,02!+'!,0:0$0!(-+-3&$!"%/-$'8!)033-3&$!&($*97'!&%2!20&(78!&%2! 20%-2&("*%!*1!(70!+&,0.0%(!.0.+$&%05!?%!(7",!9&$&2";.8!)*330)("%;!2-)(!09"(703"&3! VYY! !  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a8VbU8JYX[5!?%!(70!<"2%0'8!]K=!",!4"203'!$09*$(02!&,!&!10&(-$0!*1!(70! 09"(703"&3!$0,9*%,0!(*!.&%'!9$*1"+$*(")!,(".-3"!&%2!1*33*4"%;!-$"%&$'!($&)(! *+,($-)("*%!ZVad8JYd[5!=70,0!,(-2"0,!,-;;0,(!(7&(!]K=!*1!$0%&3!09"(703"&3!)033,!"%(*! "%(0$,("("&3!.0,0%)7'.&3!)033,!)*%($"+-(0,!(*!(70!&))-.-3&("*%!*1!(70!<0'!1"+$*(")! 0110)(*$!)0338!(70!#CKMF9*,"(":0!.'*1"+$*+3&,(5!]&$3'!)033F($&)"%;!,(-2"0,!7&:0! 9$*:"202!,-99*$(!1*$!(7",!9$*)0,,!"%!(70!9$*;$0,,"*%!*1!*+,($-)(":0!"%/-$'!ZJYa[5! _*40:0$8!.*$0!$0)0%(!3"%0&;0!,(-2"0,!\-0,("*%!(70!)*%($"+-("*%!*1!09"(703"&3!)033,!(*! (70!.'*1"+$*+3&,(!9*9-3&("*%!&%2!$01-(0!(70!*))-$$0%)0!*1!]K=!"%!(70!$0%&3! 09"(703"&!ZJXU8JXV[5!=7",!20+&(0!)*%("%-0,!(*!+0!70&(02!+0(400%!(70!9$*9*%0%(,!*1! +*(7!,"20,!*1!(70!]K=!",,-0!Z$0:"0402!"%!ZJOa8JIV8JII8JbU[[5!?(!&990&$,!*+:"*-,! (7&(!.-)7!*1!(70!20+&(0!,-$$*-%2"%;!]K=!3"0,!4"(7!"(,!201"%"("*%!ZJXJ[5!N3&,,")&33'8! ]K=!",!&,,-.02!(*!$09$0,0%(!(70!)*.930(0!)*%:0$,"*%!*1!&%!09"(703"&3!)033!"%(*!&! .";$&(*$'!.0,0%)7'.&3!*%05!?%!(7",!)*%(0@(8!(70!*))-$$0%)0!*1!]K=!3425350!.&'!+0!  VYX! !  N_MG=]A!X! 0@)002"%;3'!$&$05!_*40:0$8!"1!&!.*$0!"%)3-,":0!201"%"("*%!*1!]K=!",!)*%,"20$028!"(!)&%! +0!-%20$,(**2!(7&(!]K=!%002!%*(!+0!&!)*.930(0!9$*)0,,5!! ! ]:"20%)0!*1!09"(703"&3!202"110$0%("&("*%!"%!*+,($-)(":0!"%/-$'!"%2")&(0,!(7&(!09"(703"&3! )033,!)&%!9$*;$0,,!(*!"%(0$.02"&(0!,(&;0,!+0(400%!(70!09"(703"&3!&%2!.0,0%)7'.&3! 970%*('90!2-$"%;!(70!9$*)0,,!*1!09"(703"&3!$09&"$!&%2!$0.*203"%;5!=70!(0$.! p09"(703"&3F.0,0%)7'.&3F09"(703"&3!($&%,"("*%q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hGJ!&%2!:M=G&,08!&,!4033!&,!1-%2&.0%(&3!09"(703"&3!&270,"*%!9$*(0"%,!,-)7!&,!]F VYd! !  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j!)7&%%03!(7&(!",! 3"%<02!(*!,($&"%F!&%2!,($0,,n.02"&(02!)033!$0,9*%,0,!ZJOX8JOd8JIVFJIb[!?!7&:0! 20.*%,($&(02!(7&(!(7",!)7&%%03!9$*(0"%!1*$.,!)*.930@0,!4"(7!]FN&2!&%2!"N&(!&(!(70! ,"(0!*1!&270$0%,!/-%)("*%,!*%!(70!+&,*3&(0$&3!.0.+$&%05!=7$*-;7!34253/60!,(-2"0,8!?! 7&:0!20.*%,($&(02!(7&(!=AGHI!&)(":&("*%!"%13-0%)0,!(70!0@9$0,,"*%8!3*)&3"D&("*%! &%2!%-)30&$!($&%,3*)&("*%!*1!+*(7!*1!(70,0!<0'!&270$0%,!/-%)("*%!9$*(0"%,5! ! =70!2",$-9("*%!*1!]FN&2F&,,*)"&(02!&270$0%,!/-%)("*%,!",!&!)*..*%!10&(-$0!*1! 09"(703"&3!"%/-$'!ZJXOFJXb[5!?%!(7",!(70,",8!?!7&:0!20.*%,($&(02!(7&(!]FN&2!2",$-9("*%! &%2!2",3*)&("*%!",!&!<0'!10&(-$0!*1!*+,($-)("*%!"%!(70!10(&3!9$".&(0!ZJ[!&%2!"%!(70! &2-3(!.*-,0!<"2%0'5!>*$<!90$1*$.02!+'!*(70$,!"%!*-$!3&+!&%2!"%!47")7!?!7&:0! )*33&+*$&(02!7&,!&3,*!20.*%,($&(02!2",$-9("*%!&%2!&3(0$02!3*)&3"D&("*%!*1!]FN&2!  VYa! !  N_MG=]A!X! 1*33*4"%;!*+,($-)("*%!"%!7-.&%!10(&3!<"2%0',!Zb[!&%2!"%!(70!.?KNRO!)033!.*203! 1*33*4"%;!=SB"FV!,(".-3&("*%!ZI[5! ! =70!,(&+"3"('!*1!&270$0%,!/-%)("*%,!7&,!+00%!,7*4%!(*!+0!"%(0;$&3!"%!20(0$."%"%;!(70! ,($-)(-$0!&%2!1-%)("*%!*1!09"(703"&!&%2!93&',!&!:"(&3!$*30!"%!)033F)033!&270,"*%!&%2! 09"(703"&3!9*3&$"D&("*%!ZJXYFJXd[5!?%!.&(-$0!09"(703"&3!)033,8!,-)7!&,!(7*,0!*1!(70! )*330)("%;!2-)(8!&270$0%,!/-%)("*%,!&$0!)*.930@0,!)*.9*,02!*1!]FN&2!"%!&,,*)"&("*%! 4"(7!#!&%2!"!)&(0%"%,5!=70!2"$0)(!"%(0$&)("*%!*1!]FN&2!&%2!"N&(!9$*.*(0,! "%(0$)033-3&$!]FN&2F.02"&(02!&270,"*%8!47"30!#!)&(0%"%!3"%<,!(70,0!)*.930@0,!(*!(70! &)("%!)'(*,<030(*%5!! ! =70!&99$*9$"&(0!.&"%(0%&%)0!*1!(70!,(&+"3"('!*1!]FN&2F+&,02!&270$0%,!/-%)("*%,!&3,*! ,0$:0,!&%!".9*$(&%(!,0)*%2&$'!$*30!"%!,0\-0,(0$"%;!"N&(!0@9$0,,"*%!(*!(70,0! )*.930@0,!ZJXd8JXa[5!=70!$0;-3&("*%!&%2!3*)&3"D&("*%!*1!"N&(!93&',!&!)$-)"&3!$*30!"%! 20(0$."%"%;!09"(703"&3!2"110$0%("&("*%!&%2!,($-)(-$05!#%20$!%*$.&3!)*%2"("*%,8!1$00! )'(*93&,.")!"N&(!",!$&9"23'!20;$&2025!_*40:0$8!"%!(70!9$0,0%)0!*1!,0)*%2&$'!,";%&3,! "%)3-2"%;!>Q=!&%2!=SB"!,";%&3"%;8!"%7"+"("*%!*1!(70!20;$&2&("*%!.&)7"%0$'!&33*4,! 1*$!(70!&))-.-3&("*%!*1!"N&(!"%!(70!)'(*93&,.!&%2!"(,!,-+,0\-0%(!($&%,3*)&("*%!(*! (70!%-)30-,5!?%!(70!%-)30&$!)*.9&$(.0%(8!"N&(!"%(0$&)(,!4"(7!.0.+0$,!*1!(70! E]Be=NB!1&."3'!*1!($&%,)$"9("*%!1&)(*$,!ZJOO[!&%2!9$*.*(0,!(70!0@9$0,,"*%!*1!&!7*,(! *1!(&$;0(!;0%0,!(7&(!7&:0!,";%"1")&%(!".93")&("*%,!*%!09"(703"&3!)033!1-%)("*%5!=70!-9! $0;-3&("*%!*1!,0:0$&3!1&)(*$,!"%)3-2"%;!(70!CQM?E,!)&%!%0;&(":03'!$0;-3&(0!]FN&2! 0@9$0,,"*%!&%2!$0"%1*$)0!"N&(!,";%&3"%;!ZJdU8JdV[5!M,!2",)-,,02!+03*48!.&%'!*(70$! VXU! !  N_MG=]A!X! &)(":&(02!;0%0,!7&:0!20,)$"+02!$*30,!"%!(70!4*-%2!70&3"%;8!]K=8!&%2!1"+$*(")! $0,9*%,0,5! ! =70!&)(":&("*%!*1!"N&(!,";%&3"%;!&%2!($&%,)$"9("*%&3!)*%($*3!",!&,,*)"&(02!4"(7! 09"(703"&3!"%/-$'!1*33*4"%;!-$"%&$'!($&)(!*+,($-)("*%!ZJOI[5!B*33*4"%;!09"(703"&3! "%/-$'8!"N&(!&)(":&("*%!30&2,!(*!(70!0@9$0,,"*%!*1!9$*1"+$*(")!1&)(*$,!"%)3-2"%;!)F.')8! (4",(8!E]B8!&%2!1"+$*%0)("%8!&%2!(*!(70!"%2-)("*%!*1!1"+$*,",!ZJdJ[5!"N&(!&))-.-3&("*%! &3,*!*))-$,!1*33*4"%;!,(".-3&("*%!4"(7!=SB"8!&!<0'!1"+$*(")!.02"&(*$!*+,0$:02! 2-$"%;!*+,($-)("*%!ZJdO[5!=70!,(&+"3"D&("*%!*1!"N&(!9$*.*(0,!(70!0@9$0,,"*%!*1! 9$*1"+$*(")!1&)(*$,!"%)3-2"%;!CQM?E8!1"+$*%0)("%!&%2!93&,."%*;0%!&)(":&(*$!"%7"+"(*$F V!ZVOU[5!"N&(!($&%,3*)&("*%!",!&3,*!3"%<02!(*!(70!9$*.*("*%!*1!)033-3&$!970%*('9")! ($&%,"("*%!*$!]K=8!&%2!,(-2"0,!20.*%,($&(0!(70!$*30!"N&(eE]BF.02"&(02!,";%&3"%;!"%! (70!9$*.*("*%!*1!]K=!ZJdI[!&%2!0@9$0,,"*%!*1!9$*1"+$*(")!(&$;0(!;0%0,!"%)3-2"%;! H?K8!)*33&;0%,!?!&%2!???8!1"+$*%0)("%8!93&,."%*;0%!&)(":&(*$!"%7"+"(*$FV8!1"+$*+3&,(! ,90)"1")!9$*(0"%!V8!CQM?E!V!&%2!J8!KKG,8!&%2!#CKM!ZVOU8JOY8JdJ8Jdb8JdY[5! ?%($";-"%;3'8!(70!+3*)<&20!*1!"N&(!,";%&3"%;!2$&.&(")&33'!"%7"+"(,!(70!9$*2-)("*%!*1! (70,0!1&)(*$,!ZJdJ8JdX[5!?%!&22"("*%8!"N&(!+3*)<&20!&((0%-&(0,!##6F"%2-)02!1"+$*,",! &%2!2*4%F$0;-3&(0,!(70!0@9$0,,"*%!*1!1"+$*%0)("%8!)*33&;0%!?8!)*33&;0%!???8! 93&,."%*;0%!&)(":&(*$!"%7"+"(*$FV8!1"+$*+3&,(!,90)"1")!9$*(0"%!V8!CQM?E,8!&%2!#CKM! &))-.-3&("*%5!=70,0!1"%2"%;,!7";73";7(!(70!)0%($&3!$*30!*1!"N&(!"%!(70!09"(703"&3! "%/-$'!1*33*4"%;!*+,($-)("*%5! !  VXV! !  N_MG=]A!X! "N&(!&)(":"('!",!&3,*!;&"%"%;!".9*$(&%)0!"%!(70!1"032!*1!<"2%0'!20:03*9.0%(5!?(!7&,! +00%!,7*4%!(*!+0!".9*$(&%(!1*$!+*(7!KK!"%2-)("*%!ZJdd[!&%2!-$0(0$")!+-2! +$&%)7"%;!.*$97*;0%0,",!ZJda[5!"N&(!201")"0%)'!".9&"$,!(70!0@9$0,,"*%!*1!<0'! -$0(0$")!+-2!20:03*9.0%(!;0%0,!"%)3-2"%;!E?KV8!GMoJ8!A]=!&%2!>Q=VV!30&2"%;!(*! $0%&3!&93&,"&!*$!2',93&,"&!ZJda8JaU[5!C(&+"3"D&("*%!*1!"N&(!&3,*!9$*.*(0,!&93&,"&!*$! 2',93&,"&!ZJbY[5!=70,0!$0,-3(,!,-;;0,(!(7&(!"N&(!",!0,,0%("&3!1*$!(70!.&"%(0%&%)0!*1! -$0(0$")!+-2!)033,!"%!&!9$*;0%"(*$!,(&(0!ZJaU[5!?(!&3,*!7";73";7(,!&!<0'!$*30!1*$!"N&(!*%! -$0(0$")!+-2e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eF!<"2%0'5! ! =70!$*30!*1!(70!)*330)("%;!2-)(!1*33*4"%;!$0%&3!"%/-$'!$0.&"%,!&%!-%20$!$09*$(02! 10&(-$0!*1!(70!9$*;$0,,"*%!*1!)7$*%")!$0%&3!2",0&,05!!A0)0%(3'8!,0:0$&3!,(-2"0,! 20,)$"+"%;!(70!)*%($"+-("*%!*1!(70!)*330)("%;!2-)(!(*!1"+$*,",!ZJaV[8!"%13&..&("*%! ZJaJ[8!&%2!$09&"$!ZJaO8JaI[!"%2")&(0,!&%!"%)$0&,"%;!"%(0$0,(!"%!(7",!&$0&!*1!,(-2'5!!?!  VXI! !  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`VUVYaUM!!ZU5V!.;e<;[!,-+,(&%("&33'! VXb! !  N_MG=]A!X! $02-)02!)',(*;0%0,",!"%!&!$&(!.*203!*1!9*3')',(")!<"2%0'!2",0&,0!ZJbV[5!=70,0! ,(-2"0,8!)*.+"%02!4"(7!(70!4*$<!20,)$"+02!"%!(7",!(70,",8!,-;;0,(!(70!%002!1*$! ,"."3&$!3425350!&;*%",(!($0&(.0%(!0@90$".0%(,!2-$"%;!*+,($-)("*%5!!M,!=AGHI! 201")"0%)'!$0,-3(,!"%!4*$,0%02!"%/-$'!(*!(70!2",(&3!%097$*%!&1(0$!*+,($-)("*%8!"(! 4*-32!+0!"%($";-"%;!(*!20(0$."%0!"1!,',(0.")!&)(":&("*%!*1!=AGHI!)&%!&((0%-&(0! 09"(703"&3!"%/-$'!&%2!1"+$*,",5!!=70,0!,(-2"0,!4*-32!7&:0!*+:"*-,!(70$&90-(")! ".93")&("*%,!1*$!<"2%0'!"%/-$'!2-0!(*!)7"327**2!-$"%&$'!($&)(!*+,($-)("*%5!  VXY! !  N_MG=]A!d!  N:8@9;A#W #1,"!'1&4*1(%*#",-$%4* * WIHI  )9K9D8:*#9?7<E=*  Z"!"!" B)()CC%+,6H0255%+;,)+5,L28'%*+%+;, ,N*330)(02!*$!2",,0)(02!<"2%0',!40$0!"..02"&(03'!1"@02!"%!Im!9&$&1*$.&3207'20! *:0$%";7(8!207'2$&(02!(7$*-;7!;$&202!0(7&%*3,!+01*$0!($&%,10$!(*!(*3-0%05!>&@! 90$1-,"*%!4&,!&)7"0:02!:"&!&!VPV!."@!*1!(*3-0%0!4&@5!=70!(",,-0!4&,!(70%!*$"0%(02!"%! )&,,0((0,!&%2!0.+02202!"%!4&@!*:0$%";7(5!C0)("*%,!*1!0&)7!9&$&11"%!0.+02202! (",,-0!40$0!,0)("*%02!4"(7!&!.")$*(*.0!ZbFVU!w.[8!.*-%(02!*%!,-90$1$*,(!,3"20,! ZB",70$!C)"0%("1")[8!&%2!+&<02!*:0$%";7(!&(!bb°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d5V5J5! Z"!"-" $&/*(2382+',EHH/+*9%3'*892H%3'(@,, B*33*4"%;!7'2$&("*%!"%!GLC8!209&$&11"%"D02!(",,-0!,0)("*%,8!1"@02!1$*D0%!,0)("*%,8!*$! 1"@02!7&%;"%;!)033!)-3(-$0!"%,0$(,!40$0!+3*)<02!1*$!*%0!7*-$!"%!+-110$!)*%(&"%"%;! U5VK!GLC!,*3-("*%!)*%(&"%"%;!Vm!+*:"%0!,0$-.!&3+-."%!ZLCM[8!U5Vm!)*32!1",7F,<"%! VXX! !  N_MG=]A!d! ;03&("%8!U5Vm!=$"(*%!oFVUU8!U5Ubm!(400%FJU8!U5bm!,*2"-.!&D"20!&%2!Jm!*1!0"(70$! ;*&(!*$!7*$,0!%*$.&3!,0$-.5!]@)0,,!+3*)<"%;!+-110$!4&,!,7&<0%!*11!*1!(70!,0)("*%,! &%2!(70!9$".&$'!&%("+*2"0,8!2"3-(02!"%!U5VK!GLC!)*%(&"%"%;!Vm!LCM8!U5Vm!)*32!1",7! ,<"%!;03&("%8!&%2!U5bm!,*2"-.!&D"20!40$0!&2202!"..02"&(03'!&%2!"%)-+&(02! *:0$%";7(!&(!IxN5!Q0@(8!,0)("*%,!40$0!"%)-+&(02!1*$!V!7*-$!4"(7!13-*$0,)0%(3'! )*%/-;&(02!,0)*%2&$'!&%("+*2"0,!2"3-(02!"%!U5VK!GLC!)*%(&"%"%;!U5bm!,*2"-.!&D"205! =70!,0)*%2&$'!&%("+*2"0,!-,02!&%2!(70"$!2"3-("*%,!&$0!&,!1*33*4,P!;*&(!&%("F.*-,0F ?;S!Z_jE[!M30@&B3-*$FObU!&%2!FIdd!)*%/-;&(0,!ZVPbU!&%2!VPVUU!$0,90)(":03'[8!;*&(! &%("F$&++"(F?;S!Z_jE[!M30@&B3-*$FObU!&%2!FbYd!)*%/-;&(0,!ZVPbU!&%2!VPVUU! $0,90)(":03'[8!&%2!2*%<0'!&%("F;*&(F?;S!Z_jE[!M30@&B3-*$FbYd!ZVPVUU[Z?%:"($*;0%[5! B*$!OF)*3*-$!,(&"%"%;8!&%!&22"("*%&3!V!7*-$!"%)-+&("*%!4"(7!.*-,0!&%("F#CKMFB?=N! )*%/-;&(0!ZC";.&8!VPbU[!4&,!90$1*$.02!1*33*4"%;!"%)-+&("*%!4"(7!(70!$030:&%(! ,0)*%2&$'!&%("+*2"0,5!Q-)30"!40$0!,(&"%02!1*$!b!."%-(0,!4"(7!RMG?!2"3&)(&(0!ZVPOY8! ?%:"($*;0%[!9$"*$!(*!.*-%("%;!4"(7!G$*3*%;!S*32!.*-%("%;!.02"&!4"(7!&%("1&20! Z?%:"($*;0%[8!*$!.*-%(02!4"(7!G$*3*%;!S*32j!RMG?!.*-%("%;!.02"&!4"(7!&%("1&20! Z?%:"($*;0%[5!?..-%*13-*$0,)0%(!.")$*,)*9'!4&,!90$1*$.02!*%!&%!09"13-*$0,)0%)0! .")$*,)*90!ZE0")&[5!?.&;0,!40$0!)&9(-$02!4"(7!&!A0(";&!VOUU"!)&.0$&!4"(7!ASL! 1"3(0$!47003!Zh?.&;"%;[!&%2!40$0!9$*)0,,02!&%2!.0$;02!-,"%;!690%3&+!,*1(4&$0! Z?.9$*:","*%[5!N*%1*)&3!&%&3',",!4&,!90$1*$.02!*%!&!E0")&!RK?A]J!"%:0$(02! .")$*,)*90!4"(7!CGJ!M6LC!3&,0$!,)&%%"%;!70&25! Z"!"#" 1JQ,67'()8'%*+,)+5,1.[B:1, =*(&3!AQM!4&,!",*3&(02!1$*.!<"2%0'!,&.930,!)*%(&"%"%;!)*$(0@!*$!.02-33&!*1! )*%($*38!*+,($-)(028!&%2!)*%($&3&(0$&3!<"2%0',!-,"%;!(70!AQM0&,'!K"%"!`"(!9$*(*)*3! VXd! !  N_MG=]A!d! 4"(7!*%F)*3-.%!RQM&,0!($0&(.0%(!Zh"&;0%[5!)RQM!9**3,!40$0!;0%0$&(02!-,"%;! "C)$"9(!$0:0$,0!($&%,)$"9(&,0!ZL"*$&2[!&%2!4&,!"..02"&(03'!&%&3'D02!*$!,(*$02!&(! yJUxN!-%("3!-,05! Z"!"A" W/)+'%')'%G2,B:1, A0&3F(".0!\-&%("(&(":0!GNA!4&,!90$1*$.02!*%!&!XUUU!C0\-0%)0!R0(0)("*%!C',(0.! ZE"10!=0)7%*3*;"0,[!-,"%;!)-,(*.!20,";%02!9$".0$,!Z=&+30!d5V[5!M33!$0&)("*%,!7&2!&! 1"%&3!:*3-.0!*1!Jb!wE!)*%,",("%;!*1!J5b!wE!*1!)RQM!&%2!JU!wE!*1!Jo!=&\K&%!#%":0$,&3! GNA!K&,(0$K"@!ZE"10!=0)7%*3*;"0,[!)*%(&"%"%;!GNA!+-110$8!2Q=G8!&%2!K;Jj5!M33! $0&)("*%,!40$0!$-%!"%!($"93")&(0!-,"%;!aYF4033!69(")&3!A0&)("*%!G3&(0,!ZE"10! =0)7%*3*;"0,[!-%20$!"20%(")&3!&.93"1")&("*%!)*%2"("*%,P!bUxN!1*$!J!."%8!abxN!1*$!VU! ."%8!Ib!)')30,!*1!abxN!1*$!Vb!,8!&%2!YUxN!1*$!V!."%5!R"110$0%)0,!"%!(70!0@9$0,,"*%! 30:03,!*1!(70!(&$;0(!;0%0,!40$0!20(0$."%02!&,!20,)$"+02!"%!(70!#,0$^,!L-330("%!gJ! ZE"10!=0)7%*3*;"0,[5!Q*$.&3"D&("*%!*1!AQM!\-&%("('!+0(400%!,&.930,!4&,!&))*-%(02! 1*$!-,"%;!(70!0@9$0,,"*%!*1!(70!7*-,0<009"%;!;0%0!N')3*97"3"%!M!ZJab[!Z9$".&(0[!*$! "!M)("%!Z.*-,0[5!=70!1*32!2"110$0%)0!*1!0&)7!;0%0!+0(400%!,&.930,!4&,!(70%! 20(0$."%02!$03&(":0!(*!)*%($*3!<"2%0',5! Z"!"K" EHH/+*0&*''%+;, Q*$.&3"D02!9$*(0"%!3',&(0,!40$0!."@02!4"(7!b@!,&.930!+-110$!&%2!030)($*97*$0,02! *%!&!VUm!;03!-,"%;!CRCFGMS]5!B*33*4"%;!($&%,10$!(*!GHRB!.0.+$&%0!ZL"*$&2[8!&%2! +3*)<"%;!4"(7!bm!LCM8!+3*(,!40$0!"%)-+&(02!4"(7!9$".&$'!&%("+*2"0,!"%!=LC=! )*%(&"%"%;!bm!LCM!1*$!V!7*-$!&(!$**.!(0.90$&(-$0!*$!&(!I°N!*:0$%";7(5!L3*(,!40$0!!  VXa! !  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N_MG=]A!d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dFVU!400<,!Z%rJ[8!Vd!400<,!Z%r!O[8!JYFJa!400<,!Z%rO[8! &%2!OY!400<,!Z%rV[!;0,(&("*%8!&%2!9*,(%&(&33'!Z%rJ[!&(!VJ!.*%(7,!*1!&;05!M33!%*$.&3! <"2%0',!40$0!*+(&"%02!1$*.!10(-,0,!4"(7!%*!2*)-.0%(02!&+%*$.&3"("0,5!`"2%0',! *+,($-)(02!2-$"%;!10(&3!20:03*9.0%(!40$0!)*330)(02!&(!Vd!400<,!Z%rJ[8!&%2!OY! 400<,!Z%rJ[!;0,(&("*%8!&%2!9*,(%&(&33'!Z%rV[!&(!VY!.*%(7,!*1!&;05!M33!*+,($-)(02! <"2%0',!40$0!(70!$0,-3(!*1!+3&220$!*-(30(!*+,($-)("*%!4"(7!%*!*(70$!%*(02! &%*.&3"0,9,=70!9*,(%&(&3!<"2%0'!4&,!,-$;")&33'!-%*+,($-)(02!9$"*$!(*!)*330)("*%5, M33!*+,($-)(02!<"2%0',!0@7"+"(02!7&33.&$<,!*1!$0%&3!2',93&,"&!"%)3-2"%;!;3*.0$-3&$! &%2!(-+-3&$!)',(,8!&,,*)"&(02!"%(0$,("("&3!0@9&%,"*%8!90$"(-+-3&$!)*33&$!1*$.&("*%8! &%2!.02-33&$'!7'9*93&,"&!&%2!4*-32!+0!)*%,"20$02!,0:0$0!&))*$2"%;!(*!*-$! 9$0:"*-,3'!20,)$"+02!,)*$"%;!,',(0.!ZJ8aa[5!  VdV! !  N_MG=]A!d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hGJ!ZC&%(&!N$-D[!&%2!&%"*%! 0@)7&%;0$!V!Z?%(0$%&("*%&3!L3**2!S$*-9!A010$0%)0!E&+*$&(*$'[5!B*$!,*.0! 0@90$".0%(,8!M30@&Idd!4&,!)*%/-;&(02!(*!(70!.*-,0F20$":02!A7NS!9$".&$'! &%("+*2'!(*!&33*4!)*F3*)&3"D&("*%!4"(7!(70!.*-,0F20$":02!90%2$"%!&%("+*2'!-,"%;!&! .*%*)3*%&3!&%("+*2'!3&+03"%;!<"(!Z?%:"($*;0%[5!!  VdJ! !  N_MG=]A!d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aa[8!-%"3&(0$&3!*+,($-)("*%! 4&,!90$1*$.02!"%!10(&3!.*%<0',!+'!(70!"%/0)("*%!*1!&3;"%&(0!,970$0,!&(!XU!2&',! ;0,(&("*%5!S$&:"2!&2-3(!$70,-,!.*%<0',!40$0!,030)(02!1*$!(7",!,(-2'!ZQrO[5!B0(-,0,! 40$0!,*%*;$&97")&33'!0:&3-&(02!(*!)*%1"$.!%*$.&3!;$*4(7!&%2!20:03*9.0%(!9$"*$! (*!90$1*$."%;!(70!*+,($-)("*%5!=70!2&.,!40$0!&2."%",(0$02!<0(&."%0! 7'2$*)73*$"20!ZVU!.;e<;[!1*$!(70,0!&%2!,-+,0\-0%(!-3($&,*-%2!0@&."%&("*%,5! G&(0%(028!)-,(*.F20,";%02!&3;"%&(0!,970$0,!,7*4%!(*!+0!7";73'!011")"0%(!"%!"%2-)"%;! &!97',"*3*;")!*+,($-)("*%!4"(7!%*!0:"20%)0!*1!(*@")"('!40$0!-,02!1*$!(70,0! ,(-2"0,!Zaa[5!=70!&%".&3,!40$0!0-(7&%"D02!%0&$!(0$.!&(!VbU!2&',!;0,(&("*%!Z(0$.! zVYb!{!VU!2&',[5!`"2%0',!40$0!)*330)(028!1$*D0%8!1"@028!&%2!,(*$02!&,!9$0:"*-,3'! 20,)$"+02!&(!(70!(".0!*1!(",,-0!7&$:0,(5!A09$0,0%(&(":0!,0)("*%,!*1!(70!$";7(!&%2!301(! <"2%0',!40$0!9$*)0,,02!1*$!"..-%*7",(*)70.",($'8!93&)02!"%!6N=8!,%&9!1$*D0%!1*$! VdO! !  N_MG=]A!d! 1-(-$0!.AQM!,(-2"0,8!&%2!"..0$,02!"%!VUm!+-110$02!1*$.&3"%!1*$!7",(*9&(7*3*;'5! N*.9&$&+30!,(-2"0,!40$0!)*%2-)(02!"%!)*%($*3!,90)".0%,!*1!,"."3&$!;0,(&("*%&3!&;0! ZQrO[5!! Z"#"-" W/)+'%C%8)'%*+,*C,E+'2(8)&)'25,:2&&,Q0/+5)+82, =70!90$)0%(&;0!*1!"%(0$)&3&(02!)033,!4&,!20(0$."%02!+'!.&%-&33'!)*-%("%;!(70! %-.+0$!*1!uCKMjeNM!??j!)033,!:0$,-,!(*(&3!)*330)("%;!2-)(!)033,!"%!,0:0$&3!,09&$&(0! 1"032,!1$*.!)*%($*38!)*%($&3&(0$&3!&%2!*+,($-)(02!<"2%0',5!6+,($-)(02!)*330)("%;! 2-)(,!40$0!)3&,,"1"02!"%(*!."32!Z)*33&$!30,,!(7&%!bUm!1*$.02[8!.*20$&(0!Z)*33&$,!bU!F! aam!1*$.02[!&%2!,0:0$0!Z1-33'!1*$.02!)*33&$,[!+&,02!-9*%!(70!20;$00!*1!90$"(-+-3&$! )*33&$!1*$.&("*%5! Z"#"#" Q+'%0*5%23, =70!9$".&$'!&%("+*2"0,!-,02!1*$!13-*$0,)0%(!"..-%*7",(*)70.",($'!&%2!(70"$! 2"3-("*%,!&$0!&,!1*33*4,P!.*-,0!&%("FH?K!ZC";.&[W!$&++"(!&%("FN'(*<0$&("%!&%2!.*-,0! &%("F`"YX!ZR&<*[W!&%("F]FN&2!ZQ0*.&$<0$,[W!&%("FN*33!?H!ZB"(D;0$&32[W!&%2!;*&(!&%("F MhGJ!&%2!&%("FNM!??!ZC&%(&!N$-D[5!! Z"#"A" L')'%3'%8)&,Q+)&@3%3, C09&$&(0!\-&%("(&(":0!GNA!$0&)("*%,!40$0!$-%!1*$!0&)7!,&.9305!A0,-3(,!40$0! 0@9$0,,02!&,!.0&%!{!,(&%2&$2!0$$*$!*1!(70!.0&%!ZC]K[5!C(&(",(")&3!&%&3',",!4&,! 90$1*$.02!-,"%;!(70!C(-20%(^,!(F(0,(5!M!9F:&3-0!*1!v!U5Ub!4&,!)*%,"20$02!,(&(",(")&33'! ,";%"1")&%(5!B*$!)*.9&$",*%,!*1!uCKMjeNM!??j!"%(0$)&3&(02!)033!%-.+0$,!+0(400%! *+,($-)(02!&%2!)*%($*3!<"2%0',8!,(&(",(")&3!,";%"1")&%)0!4&,!20(0$."%02!+'!&993'"%;! &!(4*F(&"302!-%0\-&3!:&$"&%)0!(F(0,(5!A0,-3(,!1*$!0&)7!)3&,,"1")&("*%!*1!*+,($-)(02! VdI! !  N_MG=]A!d! 2-)(,!&%2!1*$!&33!*+,($-)(02!2-)(,!470%!9**302!4&,!,";%"1")&%(!(*!9!v!U5Ub!470%! )*.9&$02!4"(7!)*%($*3,5! !  WIOI  .78>?9D*P*8KE*SX*#AD5K9*//$*#<E9:*1K8:B=9=*  Z"A"!" Q+%H)&3,)+5,L/(;%8)&,??N, M33!&%".&3!9$*(*)*3,!40$0!&99$*:02!+'!(70!N*.."((00!*%!M%".&3!N&$0!&(!#%":0$,"('! *1!L$"(",7!N*3-.+"&!9$"*$!(*!".930.0%(&("*%5!>"32!('90!NbXLY!.")0!40$0!&)\-"$02! &,!%00202!1$*.!T&)<,*%!E&+,!&(!b!400<,!*1!&;0!&%2!7*-,02!3*)&33'!1*$!&!."%".-.!*1! *%0!400<!(*!&33*4!1*$!&))3".&("D&("*%5!=$9:IFeF!.")0!40$0!&)\-"$02!4"(7!90$.",,"*%! *1!A"<0%!L"*$0,*-$)0!N0%(0$!&%2!+$002"%;!9&"$!4&,!<"%23'!9$*:"202!+'!R$5!R5!o5! |7&%;!&%2!7*-,02!"%!&!3*)&3!+$002"%;!)*3*%'5!K")0!&;02!Y!(*!d!400<,!40$0!-,02!"%! &33!##6!0@90$".0%(,5!B*$!4"32!('90!##6!,-$;0$"0,8!*%3'!.&30!.")0!40$0!-,025!!B*$! ##6!*1!=$9:IFeF!.")08!+*(7!.&30,!&%2!10.&30,!40$0!-,025!B*$!"%2-)("*%!*1!,-$;")&3! *+,($-)("*%8!.")0!40$0!&%0,(70("D02!4"(7!JFOm!",*13-$&%08!&%2!&2."%",(0$02!9$0F *90$&(":0!.02")&("*%,!&%2!",*(*%")!,&3"%05!B*33*4"%;!&!13&%<!"%)","*%!&%2!0%($'!"%(*! (70!90$"(*%0-.8!(70!$";7(!-$0(0$!4&,!",*3&(02!&%2!0"(70$!3";&(02!4"(7!&!bFU!G$*30%0! ,-(-$0!*$!,7&.!.&%"9-3&(025!B*33*4"%;!)3*,-$08!.")0!40$0!.*%"(*$02!-%("3!1-33'! $0)*:0$025!!B*$!&33!&%&3',0,8!O!.")0!40$0!-,02!90$!(".0!9*"%(!ZQrO[5!! Z"A"-" L)H4&2,:*&&28'%*+, K")0!40$0!0-(7&%"D02!&(!V8!J8!O8!Y8!a!2&',!9*,(F,-$;0$'!&%2!)*%($*38!,7&.8! *+,($-)(028!&%2!)*%($&3&(0$&3!<"2%0',!)*330)(025!`"2%0',!40$0!0"(70$! 9&$&1*$.&3207'20!1"@02!&%2!9&$&11"%F0.+02202!&,!"%!,0)("*%!d5V5J8!*$!0.+02202!"%! Vdb! !  N_MG=]A!d! 6N=!Z=",,-0F=0<[!&%2!13&,7!1$*D0%!"%!",*90%(&%0!)**302!"%!2$'F")05!B$*D0%!(",,-0,! 40$0!,0)("*%02!-,"%;!&!)$'*,(&(!ZE0")&[8!1"@02!&(!FJU°N!"%!bUPbU!.0(7&%*3e&)0(*%0! &%2!,(&"%02!&,!90$!,0)("*%!d5V5J5! Z"A"#" F*(49*H2'(%8,Q+)&@3%3,*C," LFQ,Q(2), K*$97*.0($")!.0&,-$0.0%(,!40$0!.&20!-,"%;!,0)("*%,!,(&"%02!1*$!#CKM!:"&! 13-*$0,)0%(!"..-%*7",(*)70.",($'!&,!90$!,0)("*%!d5V5J5!!VU!$09$0,0%(&(":0!IU@!7";7! 9*40$!1"032,!40$0!)&9(-$02!1$*.!+*(7!)*$(0@!&%2!*-(0$!.02-33&!Z4"(7!0\-&3! $09$0,0%(&("*%!*1!(70!"%%0$!&%2!*-(0$!9*$("*%,!*1!0&)7!$0;"*%5!!#,"%;!&!aaF9*"%(!;$"2! "%!M2*+0!G7*(*,7*9!ZVV!:0$(")&3!&%2!a!7*$"D*%(&3!3"%0,[!ZB";-$0!b5b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dd!ZVPVUUU8! ?%:"($*;0%[5!!C3"20,!40$0!)*-%(0$,(&"%02!4"(7!$&++"(!&%("F:M=G&,0!ZVPVUU8!C&%(&! N$-D[5! Z"A"K" EHH/+*4(28%4%')'%*+, #,"%;!0"(70$!$&++"(!&%("F=AGHI!*$!.*-,0!&%("F"N&(!&%("+*2"0,8!=AGHI!*$!"N&(! $0,90)(":03'!4&,!9$0)"9"(&(02!1$*.!3',&(0,!-,"%;!9$*(0"%FM!,097&$*,0!+0&2,!&%2! VdY! !  N_MG=]A!d! )*330)(02!+'!)0%($"1-;&("*%5!G$0)"9"(&(0,!40$0!$0,-,90%202!"%!,&.930!+-110$!&%2! &%&3'D02!1*$!)*F9$0)"9"(&("*%!*1!=AGHI8!"N&(!*$!]FN&2!:"&!"..-%*+3*(("%;5! Z"A"U" EHH/+*0&*''%+;, G$*(0"%!3',&(0,!1*$!"..-%*+3*(("%;!40$0!.&20!1$*.!VbU!µ.!($".!,0)("*%,!1$*.! 13&,7!1$*D0%!<"2%0',!)*330)(02!"%!9$*(0"%!3',",!+-110$!)*%(&"%"%;!bUPbU!=G]A!L-110$! Z=70$.*8!A*)<1*$28!?E[eCRC!+-110$!)*%(&"%"%;!9$*(0&,0!"%7"+"(*$,!ZA*)708!h-0+0)[5! G$*(0"%!3',&(0,!40$0!\-&%("1"02!-,"%;!&!Q&%*R$*9!,90)($*97*(*.0(0$!ZQ&%*R$*9[! &%2!"..-%*+3*((02!&,!20,)$"+02!"%!,0)("*%!d5V5b5! Z"A"Y" B*&@H2()32,:9)%+,12)8'%*+, K*-,0!)RQM!9**3,!40$0!;0%0$&(02!&,!90$!,0)("*%!d5V5O!&%2!=AG!0@9$0,,"*%! &%&3'D02!:"&!GNA!&.93"1")&("*%!-,"%;!9$".0$,!)-,(*.!20,";%02!-,"%;!G$".0$O!Z=&+30! d5J[5!!=70!$0,-3("%;!,&.930,!40$0!$-%!*%!&!Vm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d5V5O!&%2!d5V5I!$0,90)(":03'5!!=70! =&\.&%!=AGHI!9$*+0!ZgK.UUIaaUJb}.V[!&%2!9$".0$!,0(!4&,!-,02!&%2! %*$.&3"D02!(*!ZIObVOUa[!=&\.&%!SMGR_!0%2*;0%*-,!)*%($*3!<"(5! ,  VdX! !  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`^*90*  VW>KKK;F<F;FK<;;F;;;KK<>BW* VW>;;<<KF<;K<KF<K;K;KKF>BW*  \]\*90*  !"#$%&@(:*&5,630A&.%6<=-%.B&A0,6%E69%/<F/&!QO&94<A%46(&Y.5"1*A%58$%B=*8XZ<*.0$&5[&*0%58$%.* D$%$*1$"$%'#$)*#-*$/'85"$*#?$*1$"$*$/0%$..5-"*-+*.$($&#$)*;XA.*5"*#?$*E5)"$:*'")*5"*8!IFGB* &$((.6*  +,,%  N_MG=]A!d! "  Z"A"]" Q+'%0*5%23, G$".&$'!&%("+*2"0,!-,02P!ZV[!?..-%*7",(*)70.",($'!F!;*&(!&%("FMhGJ!ZC&%(&!N$-D[W! $&++"(!&%("FMhGJ!ZC";.&[W!$&++"(!&%("F:M=G&,0!ZC&%(&!N$-D[W!.*-,0!&%("F~!N&(0%"%! ZLR[W!.*-,0!&%("F]FN&270$"%!ZLR[W!.*-,0!&%("F]FN&270$"%!M30@&bbb!)*%/-;&(0! ZLR[W!.*-,0!&%("Fu!C.**(7!K-,)30!M)("%!ZC";.&[W!$&++"(!&%("FN*33!?H!ZB"(D;0$&32! ?%2-,($"0,[W!$&++"(!&%("F=AGHI!ZM3*.*%0!E&+,[W!ZJ[!?..-%*+3*(("%;!F,$&++"(!&%("F MhGJ!ZC";.&[8!$&++"(!&%("F:M=G&,0!ZC&%(&!N$-D[8!.*-,0!&%("F~!N&(0%"%!ZLR[8!.*-,0! &%("F]FN&270$"%!ZLR[8!.*-,0!&%("Fu!C.**(7!K-,)30!M)("%!ZC";.&[8!$&++"(!&%("F =AGHI!ZM3*.*%0!E&+,[8!$&++"(!&%("FN$0+!ZN033!C";%&3"%;[8!.*-,0!&%("F:"%)-3"%! Z#9,(&(0[W!ZO[!?..-%*9$0)"9"(&("*%!F!.*-,0!&%("F~!N&(0%"%!ZLR[8!$&++"(!&%("F=AGHI! ZM3*.*%0!E&+,[5! ! C0)*%2&$'!&%("+*2"0,!-,02P!ZV[!?..-%*7",(*)70.",($'!F!M30@&FIdd8!bYd!*$!YOO! )*%/-;&(02!&%("+*2"0,!&;&"%,(!.*-,08!$&++"(!*$!;*&(!Z?%:"($*;0%[! ZJ[!?..-%*+3*(("%;!F!_AG!)*%/-;&(02!&%("F$&++"(!*$!&%("F.*-,0!ZN033!C";%&3"%;[5! Z"A"!^" L')'%3'%8)&,Q+)&@3%3, B*$!0&)7!0@90$".0%(,8!O!&%".&3,!40$0!-,02!ZQrO[5!!B*$!20%,"(*.0($'8!$0,-3(,!&$0! 9$0,0%(02!&,!(70!.0&%!*1!(70!:&3-0,!1*$!O!&%".&3,!±!,(&%2&$2!20:"&("*%5!=70!$0,-3(,! 40$0!)*.9&$02!-,"%;!&!,(&%2&$2!(4*F(&"302!(F(0,(!Z9!v!U5UV[8!&%2!0@9$0,,02!4"(7! (70"$!,(&%2&$2!20:"&("*%,5!B*$!.*$97*.0($")!&%&3',",8!VU!$09$0,0%(&(":0!1"032,!1$*.! +*(7!(70!)*$(0@!&%2!.02-33&!40$0!,)*$025!K0&%!:&3-0,!1*$!0&)7!<"2%0'!40$0! )*.9&$02!:"&!JF4&'!MQ6HM!&%2!=-<0'!.-3("930F;$*-9!)*.9&$",*%!Z9!v!U5Ub[5!! Vda! !  N_MG=]A!d! !  WIPI  .78>?9D*SX,E+,P%'(*,.9::*.A:?AD9*#<E9:*1K8:B=9=*  Z"K"!" :2&&,=%+2,)+5,:/&'/(%+;, ?..*$(&3"D02!.*-,0!.?KNRO!)033,!ZM=NN[!40$0!)-3(-$02!"%!RK]KeBVJ!.02"&! ,-9930.0%(02!4"(7!VUm!BLC!&%2!VUU#e.!G0%")"33"%!&%2!C($09(*.')"%5!!B*$! 0@90$".0%(&("*%8!.?KNRO!)033,!40$0!9&,,&;02!*%(*!7&%;"%;!)033!)-3(-$0!,-99*$(,! ZK"33"9*$0!&%2!N*$%"%;[5!B*$!?_N!&%2!9$*(0"%!0@9$0,,"*%!&%&3',0,8!)033,!40$0!93&(02! *%!7&%;"%;!"%,0$(,!&(!XUUU!)033,e).J8!)-3(-$02!JI!7*-$,!9$"*$!(*!($0&(.0%(5!! Z"K"-" Q;*+%3',)+5,Q+');*+%3',L'%H/&)'%*+, B*$!?_N!&%&3',",8!&%2!(*!20(0$."%0!(70!(".0F!&%2!2*,0F!$0,9*%,0!*1!=AGHI! &)(":&("*%8!)033,!40$0!,(".-3&(02!4"(7!(70!=AGHIF,90)"1")!&;*%",(,!I#GRR!&%2! SC`VUVYaUM!&%2!4"(7!(70!=AGH!1&."3'!&%(&;*%",(!A-(70%"-.!A02!ZJOb8JIVFJIO[5! M;*%",(!,(".-3&("*%,!40$0!90$1*$.02!"%!(70!9$0,0%)0!*1!VUm!BLC8!&,!,(".-3&("*%!"%! (70!&+,0%)0!*1!BLC!$0,-3(02!"%!9**$!)033!,-$:":&35!N033,!40$0!,(".-3&(02!&(! )*%)0%($&("*%,!*1!V8!VU8!*$!bU!K!I#FGRR8!*$!b8!JU8!bU!*$!VUU!%K!SC`VUVYXaUM! ,*3-+"3"D02!"%!RKC6!1*$!JI8!Id8!*$!XJ!7*-$,5!C"."3&$!0110)(,!40$0!%*(02!&(!+*(7!&(!(70! VUµK!F!bUµK!IMFGRR!$&%;0!&%2!(70!bU%K!SC`VUVYaUM!,(".-3&("*%,5!=70!0110)(!*1! (70!RKC6!:07")30!4&,!0@&."%028!4"(7!0110)(,!&99&$0%(!&(!(70!1"%&3!:07")30! )*%)0%($&("*%,!*1!(70!bUµK!I#FGRR!($0&(.0%(!Zbm!RKC6[5!SC`VUVYaUM! ($0&(.0%(,!7&:0!3*40$!:07")30!)*%)0%($&("*%,!*1!U5UbFU5Vm!&(!(70!7";70,(!2*,0,! -,028!&%2!%*!:07")30!0110)(,!40$0!*+,0$:02!&(!(70,0!:07")30!)*%)0%($&("*%,5!!B*$!(7",! $0&,*%8!&%2!2-0!(*!"(,!;$0&(0$!9*(0%)'8!(70!SC`VUVYaUM!&;*%",(!4&,!-,02!1*$!&33! VaU! !  N_MG=]A!d! ,-+,0\-0%(!,(".-3&("*%,5!N*F($0&(.0%(!*1!)033,!4"(7!SC`VUVYaUM!&%2!VU!µK!AA8!*$! ($0&(.0%(!4"(7!AA!&3*%0!$0,(*$02!%*$.&3!)033-3&$!.*$97*3*;'5!B*33*4"%;!($0&(.0%(8! 7&%;"%;!"%,0$(,!40$0!$"%,02!"%!")0!)*32!GLC!&%2!1"@02!"%!.0(7&%*3!*:0$%";7(!&(!F JU°N5!!K0.+$&%0,!40$0!4&,702!"%!")0F)*32!&)0(*%0!1*$!V!."%-(08!&"$F2$"02!&%2! ,(*$02!&(!I°N!-%("3!%002025!!B*$!,(&"%"%;8!.0.+$&%0,!40$0!$0.*:02!1$*.!(70! 7&%;"%;!"%,0$(,8!4&,702!"%!GLC!&%2!,(&"%02!Z&,!90$!,0)("*%!d5V5J[5! ! B*$!9$*(0"%!0@9$0,,"*%!&%&3',0,8!)033,!40$0!93&(02!&%2!)-3(-$02!&%2!,(".-3&(02!&,! &+*:0!4"(7!bU%K!SC`VUVYaUM8!bU%K!SC`VUVYaUM!4"(7!VUµK!AA8!*$!4"(7!VUµK! AA!&3*%0!1*$!XJ!7*-$,5!!N033!3',&(0,!40$0!)*330)(02!"%!A?GM!+-110$!,-9930.0%(02!4"(7! 9$*(0&,0!"%7"+"(*$,!ZA*)70[!&%2!&%&3',0,!+'!"..-%*+3*(("%;!&,!20,)$"+02!"%!,0)("*%! d5V5b5!! Z"K"#" :2&&,$()8'%*+)'%*+, =*!"%:0,(";&(0!(70!0@9$0,,"*%!*1!9$*(0"%,!"%!0"(70$!(70!)'(*93&,.")!*$!%-)30&$! )*.9&$(.0%(,8!)033!1$&)("*%&("*%!4&,!90$1*$.02!*%!.?KNRO!)033,!93&(02!&(!bU8UUU! )033,e).J8!)-3(-$02!1*$!JI!7*-$,8!&%2!,(".-3&(02!4"(7!bU%K!SC`VUVYaUM!1*$!b! ."%-(0,8!V!7*-$8!Y!7*-$,8!*$!JI!7*-$,5!!N033,!40$0!)*330)(02!"%!JUU!µ3!*1!)*32!GLC! -,"%;!&!)033!,)$&990$!&%2!90330(02!+'!)0%($"1-;&("*%5!N'(*93&,.")!1$&)("*%,!40$0! *+(&"%02!1$*.!3',&(0!,-90$%&(&%(,!1*33*4"%;!"%)-+&("*%!&%2!)0%($"1-;&("*%!"%!L-110$! M!ZVU.K!_]G]C8!V5b.K!K;N3J8!VU!.K!`N38!V.K!]R=M8!U5Vm!QGIU[5!=70!$0.&"%"%;! %-)30&$!90330(!4&,!(70%!4&,702!&%2!$090330(02!"%!L-110$!L!ZVU.K!_]G]C8!J.K! K;N3J8!U5Vm!]R=M8!U5Vm!]S=M[!(7$00!(".0,5!B*33*4"%;!2",$-9("*%!"%!L-110$!N!ZJU.K!  VaV! !  N_MG=]A!d! _]G]C8!U5IJK!Q&N38!V5b.K!K;N3J8!JU!m!;3')0$*38!U5Vm!]R=M8!U5Vm!]S=M[8!3',&(0,! 40$0!)0%($"1-;02!&%2!(70!,-90$%&(&%(!)*330)(02!1*$!(70!%-)30&$!1$&)("*%5!M33!+-110$,! )*%(&"%02!9$*(0&,0!"%7"+"(*$,!ZA*)70[5!N033!1$&)("*%,!40$0!%*$.&3"D02!-,"%;!&!LNM! &,,&'!ZG"0$)0[!&%2!&%&3'D02!:"&!"..-%*+3*(("%;!&,!90$!,0)("*%!d5V5b5! Z"K"A" Q+'%0*5%23, G$".&$'!&%("+*2"0,!-,02P!ZV[!?..-%*7",(*)70.",($'!F!$&++"(!&%("FMhGJ!ZC";.&[W! .*-,0!&%("F~!N&(0%"%!ZLR[W!.*-,0!&%("F]FN&270$"%!ZLR[W!.*-,0!&%("F]FN&270$"%! M30@&bbb!)*%/-;&(0!ZLR[W!$&++"(!&%("F=AGHI!ZM3*.*%0!E&+,[W!ZJ[!?..-%*+3*(("%;!F, .*-,0!&%("F~!N&(0%"%!ZLR[8!.*-,0!&%("F]FN&270$"%!ZLR[8!&%("F=AGHI!ZM3*.*%0! E&+,[8!$&++"(!&%("FN$0+!ZN033!C";%&3"%;[8!.*-,0!&%("F:"%)-3"%!Z#9,(&(0[W! ZO[!?..-%*9$0)"9"(&("*%!F!.*-,0!&%("F~!N&(0%"%!ZLR[8!$&++"(!&%("F=AGHI!ZM3*.*%0! E&+,[5! ! C0)*%2&$'!&%("+*2"0,!-,02P!ZV[!?..-%*7",(*)70.",($'!F!M30@&FIdd8!bYd!*$!YOO! )*%/-;&(02!&%("+*2"0,!&;&"%,(!.*-,08!$&++"(!*$!;*&(!Z?%:"($*;0%[!! ZJ[!?..-%*+3*(("%;!F!_AG!)*%/-;&(02!&%("F$&++"(!*$!&%("F.*-,0!ZN033!C";%&3"%;[5! Z"K"K" L')'%3'%8)&,Q+)&@3%3, B*$!&33!0@90$".0%(,8!O!$093")&(0,!40$0!-,02!ZQrO[5!!B*$!20%,"(*.0($'!&%2!)033! 1$&)("*%&("*%!*1!3',&(0,8!$0,-3(,!&$0!9$0,0%(02!&,!(70!.0&%!*1!(70!:&3-0,!1*$!O! $093")&(0,!±!,(&%2&$2!20:"&("*%5  VaJ! !  A]B]A]QN]C!  T;B;T;[.;O, ! V5! J5! O5! I5! b5! Y5! X5! d5! a5! VU5! VV5! VJ5! VO5! VI5! Vb5! VY5! VX5! Vd5! Va5! JU5!  _"&((8!K5!T58!?:&%*:&8!E58!=*$&%8!Q58!=&$&%(&38!M5!B58!&%2!K&(,0338!R5!S5!ZJUVU[! ,;<63BA42W0964AC20#2XA/H0C0"E!JVR8!YOUFYOX! L-((8!K5!T58!=&$&%(&38!M5!B58!T".0%0D8!R5!B58!&%2!K&(,0338!R5!S5!ZJUUX[!Y3=4<E2!4/! VK8!aOYFaII! L$"2;04&(0$8!R5!T58!R"*%%08!T5!K58!L-((8!K5!T58!G"%8!N5!E58!&%2!K&(,0338!R5!S5!ZJUUX[! -60F/H2L06;2!-*2&<.!! ?:&%*:&8!E58!L-((8!K5!T58!&%2!K&(,0338!R5!S5!ZJUUd[!,;<63BA42W0964AC20#2 XHE.30C0"E$&<4AC2XHE.30C0"E!KXQ8!BVJOdFBVJId! =$%<&8!G58!_"&((8!K5!T58!?:&%*:&8!E58!=&$&%(&38!M5!B58!&%2!K&(,0338!R5!S5!ZJUVU[! W0964AC20#2K30;<=3B34<2A4=2K30/<BH40C0"E!! ?:&%*:&8!E58!_"&((8!K5!T58!f*20$8!K5!N58!=&$&%(&38!M5!B58!&%2!K&(,0338!R5!S5!ZJUVU[! Y3=4<E2!4/<64A/304AC!VV8!VVJOFVVOV! L0$%&$28!N5!ZVdXd[!+<Z04.2.962C<.21H[40;\4<.2=<2CA253<2B0;;94.2A9S2A43;A9S2 </2A9S25["</A9S?8!T5L!L&33"Ä$0!0(!B"3,58!G&$",! H"D08!G5!R58!&%2!C."(78!_5!>5!ZJUUI[!,4A/2&<B2,2]3.B052@0C2J<CC2R50C2K30C!KVV8! OIIFObI! K&2,0%8!`5!K58!Q"03,0%8!C58!&%2!=",70$8!N5!N5!ZJUUd[!M%&(*.'!*1!(70!<"2%0'5!"%! K6<44<62A4=2&<B/06^.2IH<2Y3=4<E2ZL$0%%0$8!L5!025[8!d(7!]2"("*%!]258!C&-%20$,! ]3,0:"0$8!G7"3&20397"&5!99!JbFaU! >70&(0$8!G5!A58!L-$<"((8!_5!S58!&%2!R&%"0,8!H5!S5!ZVadX[!#$"%&$'!,',(0.5!"%! *94B/304AC2L3./0C0"E8!J%2!]2"("*%!]258!N7-$)7"33!E":"%;,(*%08!Q04!f*$<5!99! JOYFJbX! `&.90$FTÅ$;0%,0%8!B5!ZVaYY[!IH<29C/6A./69B/96<20#2/H<2406;AC2H9;A42 "C0;<69C9.8!]/%&$!K-%<,;&&$28!N*90%7&;0%! A*204&328!A58!&%2!`&$%*:,<'8!K5!T5!ZVaXI[!W2J<CC2K30C!RY8!IJOFIOO! A0",0$8!T58!`$"D8!>58!`$0(D30$8!K58!&%2!K-%2038!G5!ZJUUU[!W2,;280B2_<1H60C!JJ8!VF d! =$';;:&,*%8!`5!ZVaaa[!W2,;280B2_<1H60C!JY8!JIIUFJIIb! A*,033"8!C58!S$"+*-:&38!658!L*-(08!Q58!C")78!K58!L0%0,,'8!B58!M(("08!=58!S-+30$8!K5!N58! &%2!M%(";%&)8!N5!ZJUUJ[!,;2W2XA/H0C!JRY8!VOVFVOa! B-,7"."8!`58!#)7"2&8!C58!_&$&8!f58!_"$&(&8!f58!K&$-.*8!B58!&%2!C&,&<"8!C5!ZVaaO[! _A/96<!NRJ8!bIaFbbJ! R$0,,30$8!S5!A5!ZJUUa[!]<5<C01;<4/!JNR8!OdYOFOdXI! R$0,,30$8!S5!A5!ZJUUY[!,449AC26<53<F20#2B<CC2A4=2=<5<C01;<4/AC2:30C0"E!KK8! bUaFbJa! Q&$3",8!K58!S$*(08!R58!S&"(&%8!f58!L*-&3"&8!C5!`58!&%2!L*-)7&$28!K5!ZJUUX[!W2,;2 80B2_<1H60C!JW8!VVJVFVVJa! S$*(08!R58!C*-&+%"8!M58!L-,,3"%;0$8!K58!&%2!L*-)7&$28!K5!ZJUUY[!]<5<C01;<4/! JNN8!bOFYV! VaO! !  A]B]A]QN]C! JV5! JJ5! JO5! JI5! Jb5! JY5! JX5! Jd5! Ja5! OU5! OV5! OJ5! OO5! OI5! Ob5! OY5! OX5! Od5! Oa5! IU5! IV5! IJ5! IO5!  L$*97'8!G5!R58!6,($*.8!E58!E&%;8!`5!K58!&%2!R$0,,30$8!S5!A5!ZJUUV[!]<5<C01;<4/! JKW8!IXIXFIXbY! h-&;;"%8!C5!]58!&%2!T8!`5!ZJUUd[!].+$'*3*;'!*1!(70!<"2%0'5!"%!K6<44<62A4=2 &<B/06^.2IH<2Y3=4<E2ZL$0%%0$8!L5!K5!025[8!d(7!]2"("*%!]258!C&-%20$,!]3,0:"0$8! G7"3&20397"&5!99!VFJI! N*,(&%("%"8!B58!&%2!C7&<'&8!A5!ZJUUY[!K30<..AE.!KW8!VVXFVJX! S$"0,7&..0$8!#58!E08!K58!G3-.98!M5!C58!>&%;8!B58!=0,,"0$FE&:";%08!K58!&%2! K&$("%8!S5!A5!ZJUUI[!]<52J<CC!R8!XUaFXVX! L&,,*%8!K5!M58!>&(,*%FT*7%,*%8!T58!C7&<'&8!A58!M<+-3-(8!C58!_'"%<8!R58!N*,(&%("%"8! B5!R58!>"3,*%8!G5!R58!K&,*%8!?5!T58!&%2!E")7(8!T5!R5!ZJUUY[!]<52K30C!KXX8!IYYFIXX! L&,,*%8!K5!M58!M<+-3-(8!C58!>&(,*%FT*7%,*%8!T58!C".*%8!A58!N&$$*338!=5!T58!C7&<'&8! A58!S$*,,8!?58!K&$("%8!S5!A58!E-1<"%8!=58!K)K&7*%8!M5!G58!>"3,*%8!G5!R58!N*,(&%("%"8! B5!R58!K&,*%8!?5!T58!&%2!E")7(8!T5!R5!ZJUUb[!]<52J<CC!W8!JJaFJOa! K")7*,8!65!ZJUUa[!J9662U1342-<4</2]<5!JX8!IdIFIaU! N*,(&%("%"8!B5!ZJUUY[!]3##<6<4/3A/304`26<.<A6BH2342:30C0"3BAC2=35<6.3/E!VQ8!IUJF IJV! &3FM4\&("8!h58!&%2!S*32+0$;8!K5!A5!ZVaad[!Y3=4<E2!4/!PQ8!VdOJFVdIJ! ]((0%,*7%8!N5!M5!ZVadb[!a2&<52K30C!RY8!JdaFOUX! _"%)73"1108!C5!M58!C&$;0%(8!G5!_58!_*4&$28!N5!H58!N7&%8!f5!B58!&%2!:&%!H03D0%8!R5! ZVaaV[!+A:2!45<./!RQ8!XXXFXdI! _"%)73"1108!C5!M58!E'%)78!K5!A58!C&$;0%(8!G5!_58!_*4&$28!N5!H58!&%2!H&%!H03D0%8!R5! ZVaaJ[!K62W2U:./</2-E4A<B0C!XX8!JaYFOUV! _"%)73"1108!C5!M58!_*4&$28!N5!H58!E'%)78!K5!A58!C&$;0%(8!G5!_58!T-228!L5!M58!&%2!:&%! H03D0%8!R5!ZVaaO[!X<=3A/62XA/H0C!JN8!OOOFOIO! C)7."2(F6((8!`5!K58!f&%;8!T58!N70%8!o58!>&%;8!_58!G&$&;&,8!Q58!K*$"8!`58!E"8!T5!f58!E-8! L58!N*,(&%("%"8!B58!C)7"110$8!K58!L*(("%;0$8!]58!&%2!L&$&,)78!T5!ZJUUb[!W2,;280B2 _<1H60C!JR8!VaaOFJUUJ! C7&<'&8!A58!>&(&%&+08!=58!&%2!N*,(&%("%"8!B5!ZJUUb[!]<52J<CC!W8!YbFXI! K&/-.2&$8!M58!H&"%"*8!C58!`",90$(8!M58!K)K&7*%8!T58!&%2!K)K&7*%8!M5!G5!ZJUUO[! ]<5<C01;<4/!JNY8!OVXbFOVdb! |7&*8!_58!`0;;8!_58!S$&2'8!C58!=$-*%;8!_5!=58!A*+"%,*%8!K5!E58!L&-.8!K58!&%2! L&(0,8!N5!K5!ZJUUI[!]<52K30C!KVR8!IUOFIVb! h"&*8!T58!#DD*8!A58!6+&$&F?,7"7&$&8!=58!R0;0%,(0"%8!E58!B-)7,8!]58!&%2!_0$D3"%;0$8! R5!ZVaaa[!]<5<C01;<4/!JKR8!bIXFbbI! 67-)7"8!_58!_*$"8!f58!f&.&,&<"8!K58!_&$&2&8!_58!C0<"%08!`58!`&(*8!C58!&%2!?(*78!Q5! ZJUUU[!K30BH<;3BAC2A4=2:301HE.3BAC26<.<A6BH2B0;;943BA/304.!KVV8!YIOFYIa! ?,7"+08!C58!`&$"7&3**8!M58!K&8!_58!|7&%;8!T58!K&$3"0$8!M58!K"(*+08!K58!=*;&4&8!M58! C)7."((8!A58!ND')D<8!T58!`&,7;&$"&%8!K58!S0330$8!R5!C58!=7*$;0"$,,*%8!C5!C58!&%2! N&%(30'8!E5!S5!ZJUUa[!]<5<C01;<4/!JNR8!OOXFOIb! K")7*,8!658!S*%)&3:0,8!M58!E*90DFA"*,8!T58!="0)<08!]58!Q&"33&(8!B58!L0"0$8!`58!S&33"8! M58!H&"%"*8!C58!&%2!|0330$8!A5!ZJUUX[!]<5<C01;<4/!JNQ8!JOaXFJIUb! C"%;78!A5!A58!K*$"(D8!`5!K58!L0$($&.8!T5!B58!&%2!N-330%FK)]40%8!E5!M5!ZJUUX[!,;2W2 XHE.30C2&<4AC2XHE.30C!KXN8!BbIdFbbI! RD"&$.&;&8!M58!]))30,8!K58!&%2!S**2'0$8!G5!ZJUUY[!W2,;280B2_<1H60C!JV8!VbYdF VbXb! VaI! !  A]B]A]QN]C! II5! Ib5! IY5! IX5! Id5! Ia5! bU5! bV5! bJ5!  bO5! bI5!  bb5! bY5! bX5! bd5! ba5! YU5! YV5! YJ5! YO5!  R")<"%,*%8!_58!>&3<0$8!R5!>58!>"%(*-$8!]5!K58!&%2!K*$"(D8!`5!ZJUUX[!,;2W2 XHE.30C2&<"9C2!4/<"62J0;12XHE.30C!KXK8!AIbOFIYV! h-"%3&%8!T58!E0."$08!K58!_-2,*%8!=58!h-8!_58!L0%/&."%8!M58!A*'8!M58!G&,)-0(8!]58! S**2'0$8!K58!A&/-8!N58!|7&%;8!|58!_*-;7(*%8!B58!&%2!S**2'0$8!G5!ZJUUX[!W2,;280B2 _<1H60C!JW8!VaVbFVaJV! _&("%"8!H58!_-78!C5!658!_0$D3"%;0$8!R58!C*&$0,8!H5!N58!&%2!E&"8!]5!ZVaaY[!-<4<.2]<5! JY8!VIYXFVIXd! h"&*8!T58!L-,78!`5!=58!C(00$8!R5!E58!C(-&$(8!A5!658!C&<-$&"8!_58!>&)7,.&%8!>58!&%2! Q";&.8!C5!`5!ZJUUV[!@<BH2]<5!JYX8!VJOFVOb! A&&("<&"%0%FM7*<&,8!M58!_'(*%0%8!K58!=0%7-%0%8!M58!C&"%"*8!`58!&%2!C&$"*3&8!_5! ZJUUU[!]<52]E4!KJV8!VIYFVbd! R-230'8!M5!=58!S*2"%8!A5!]58!&%2!A*+0$(,*%8!]5!T5!ZVaaa[!-<4<.2]<5!JN8!VYUVF VYVO! Q&("*%&3!`"2%0'!B*-%2&("*%5!`R6h?!N3"%")&3!G$&)(")0!S-"203"%0,!1*$!N7$*%")! `"2%0'!R",0&,0P!]:&3-&("*%8!N3&,,"1")&("*%!&%2!C($&("1")&("*%5!M.!T!`"2%0'!R",! OaPCVFCUUU8!JUUJ!Z,-993!V[! N*$0,78!T58!&%2!]-,(&)08!T5!ZJUUd[!]9"20."*3*;'!*1!`"2%0'!R",0&,05!"%!K6<44<62 A4=2&<B/06^.2IH<2Y3=4<E2ZL$0%%0$8!L5!025[8!d(7!]2"("*%!]258!C&-%20$,!]3,0:"0$8! G7"3&20397"&5!99!YVbFYOJ! ZJUVU[!#!C!A0%&3!R&(&!C',(0.8!#CARC!JUVU!M%%-&3!R&(&!A09*$(P!M(3&,!*1! N7$*%")!`"2%0'!R",0&,0!&%2!]%2FC(&;0!A0%&3!R",0&,0!"%!(70!#%"(02!C(&(0,5! Q&("*%&3!?%,("(-(0,!*1!_0&3(78!Q&("*%&3!?%,("(-(0!*1!R"&+0(0,!&%2!R";0,(":0!&%2! `"2%0'!R",0&,0,8!L0(70,2&8!KR! ZJUVU[!N&%&2"&%!6$;&%!A093&)0.0%(!A0;",(0$!M%%-&3!A09*$(P!=$0&(.0%(!*1! ]%2FC(&;0!6$;&%!B&"3-$0!"%!N&%&2&8!JUUU!(*!JUUa5!N&%&2"&%!?%,("(-(0!1*$! _0&3(7!?%1*$.&("*%8!6((&4&8!6Q! ?,$&%"8!M58!&%2!`&,",<08!L5!ZJUUd[!E&+*$&(*$'!&,,0,.0%(!*1!`"2%0'!R",0&,0P! N30&,&%)08!#$"%&3',",8!&%2!`"2%0'!L"*9,'5!"%!K6<44<62A4=2&<B/06^.2IH<2Y3=4<E2 ZL$0%%0$8!L5!025[8!d(7!]2"("*%!]258!C&-%20$,!]3,0:"0$8!G7"3&20397"&5!99!XJIF XbY! E-')<@8!H5!M58!&%2!L$0%%0$8!L5!K5!ZJUUd[!Q097$*%!]%2*4.0%(5!"%!K6<44<62A4=2 &<B/06^.2IH<2Y!=4<E2ZL$0%%0$8!L5!K5!025[8!d(7!]2"("*%!]258!C&-%20$,!]3,0:"0$8! G7"3&20397"5!99!YbIFYXO! _*'8!>5!]58!_-;7,*%8!K5!R58!L0$($&.8!T5!B58!R*-;3&,FR0%(*%8!A58!&%2!M.&%%8!`5! ZJUUb[!W2,;280B2_<1H60C!JR8!JbbXFJbYI! =$&)'8!A5!]58!L0$0%,*%8!S58!>&((";%0'8!>58!&%2!L&$$0((8!=5!T5!ZVaaU[!,;2W2XA/H0C! JNR8!IJaFIOa! Q0-$"%;0$8!T5!A58!&%2!L$0%%0$8!L5!K5!ZVaaJ[!W2LE1<6/<4.28911C!JY8!CaVFaX! Q'0%;&&$28!T5!A58!&%2!L0%2(,0%8!=5!B5!ZVaaJ[!,4A/2&<B!KNK8!VaIFJUV! `0330$8!S58!|"..0$8!S58!K&338!S58!A"(D8!]58!&%2!M.&%%8!`5!ZJUUO[!_2R4"C2W2@<=! NQW8!VUVFVUd! _*'8!>5!]58!R*-;3&,FR0%(*%8!A5!Q58!_-;7,*%8!K5!R58!N&,,8!M58!T*7%,*%8!`58!&%2! L0$($&.8!T5!B5!ZJUUO[!Y3=4<E2!4/28911C8!COVFOX! K&%&3")78!A58!A0'0,8!E58!_0$$0$&8!K58!K030%2"8!N58!&%2!B-%2*$&8!?5!ZJUUU[!Y3=4<E2 !4/!PW8!XXUFXXO! E&)<3&%28!R5!=5!ZJUUb[!W2,;280B2_<1H60C!JR8!JbOVFJbOJ! Vab! !  A]B]A]QN]C! YI5! Yb5! YY5! YX5! Yd5! Ya5! XU5! XV5! XJ5! XO5! XI5! Xb5! XY5! XX5! Xd5! Xa5! dU5! dV5! dJ5! dO5! dI5! db5! dY5! dX5! dd5!  _*'8!>5!]58!A00,8!K58!`"308!]58!K&(704,8!T5!R58!K)N$02"08!R5!M58!G-;,30'8!R5!T58!&%2! >&%;8!|5!ZVaad[!+A4B</!NPK8!VdJYFVdJX! Q03,*%8!A5!S58!K*$;0%,(0$%8!_58!&%2!L0%%0((8!G5!_5!ZVaad[!,;2W2R13=<;30C!JQW8! YbUFYbY! E&)<3&%28!R5!=58!L0%2&338!_5!]58!6,.*%28!N58!];&%8!L5!K58!&%2!L&$<0$8!R5!T5!ZJUUU[! ,6BH2!4/<642@<=!JRY8!VIXJFVIXY! R$&<08!M5!T58!&%2!>&3<0$8!L5!A5!ZJUUI[!W2R4=0B6340C!JWY8!VFVY! L&$<0$8!R5!T5!ZJUUI[!W2R13=<;30C2J0;;943/E2L<AC/H!PW8!VVIFVVb! A*2$";-0D8!K5!K58!S*.0D8!M5!_58!M+"(+*38!N5!E58!N7&%2&$8!T5!T58!R-&$&8!C58!&%2! |"330$-03*8!S5!]5!ZJUUI[!X<=3A/62]<52XA/H0C!V8!VXFJb! Q'0%;&&$28!T5!A58!L0%2(,0%8!=5!B58!&%2!K*;0%,0%8!N5!]5!ZVaaY[!]3A:</0C0"3A!NX8! VYOIFVYOX! C&<-$&"8!_58!&%2!Q";&.8!C5!`5!ZVaad[!Y3=4<E2!4/!PQ8!VIFJY! N*930%8!R5!]5!ZVaaX[!W2T60C!JPV8!JJXUFJJXX! >020<"%8!K58!]7$")78!T5!_58!611%0$8!S58!&%2!G&908!E5!ZJUUd[!_<1H60C2]3AC2 I6A4.1CA4/!KN8!VbXbFVbdU! ZJUVU[!Q*$(7!M.0$")&%!G02"&($")!A0%&3!=$"&3,!&%2!N*33&+*$&(":0! C(-2"0,ZQMGA=N,[P!JUVU!M%%-&3!=$&%,93&%(!A09*$(5!L*,(*%8!KM! K*$$",8!A5!`58!&%2!`"3+'8!K5!R5!ZJUUd[!K<./2X6AB/2&<.2JC342U:./</2-E4A<B0C!KK8! aXFVJJ! E",,&-0$8!R58!K*$$",8!A5!`58!&%2!`"3+'8!K5!R5!ZJUUX[!8<;342*</AC2_<04A/AC2@<=! JK8!IYIFIXU! L0%1"0328!K5!A58!K)R*%&328!A5!M58!L&$(*,78!C58!_*8!G5!E58!&%2!_&$.*%8!>5!ZJUUO[! X<=3A/62I6A4.1CA4/!V8!OJVFOOb! E*90DFQ*:*&8!T5!K58!K&$("%0DFC&3;&2*8!N58!A*2$";-0DFG0%&8!M5!L58!&%2!E*90DF _0$%&%20D8!B5!T5!ZJUVU[!XHA6;AB0C2IH<6!JKW8!YVFdV! M%-.+&8!R5!658!C)*((8!T5!]58!G3&%(8!Q5!R58!&%2!A*+,*%8!C5!N5!ZJUUb[!X6<4A/AC2 =3A"40.3.!KP8!XFVO! _&'20%8!C5!M58!A-,,8!G5!R58!G$0(*$"-,8!R5!_58!K&%)*FT*7%,*%8!K5!E58!&%2!N3040338! >5!_5!ZVadd[!W2TC/6A.094=2@<=!V8!OXVFOXb! Q&<&'&.&8!R5!`58!_&$$",*%8!K5!A58!&%2!20!E*$"."0$8!M5!M5!ZVadY[!W0964AC20#2 1<=3A/63B2.96"<6E!KJ8!IOFIb! =7*.&,8!R5!B58!?$:"%;8!_5!N58!&%2!M$(7-$8!A5!T5!ZVadb[!K63/3.H2b0964AC20#2960C0"E! PV8!XdIFXdX! K&7*%'8!L5!C58!N&330%8!G5!>58!&%2!B"33'8!A5!M5!ZVadb[!&A=30C0"E!JPV8!JJVFJJI! K&%20338!T58!G0(0$,8!N5!M58!&%2!A0("<8!M5!L5!ZVaaU[!T60C2JC342_06/H2,;!JV8!JIXF JYJ! C"27-8!S58!L0'0%08!T58!&%2!A*,0%+3-.8!Q5!R5!ZJUUY[!X<=3A/62_<1H60C!KJ8!JVdF JJI! E008!A5!C58!N0%2$*%8!K58!`"%%&.*%8!R5!R58!&%2!Q;-'0%8!_5!=5!ZJUUY[!X<=3A/63B.! JJW8!bdYFbaO! B$002.&%8!M5!E58!T*7%,*%8!K5!G58!&%2!S*%D&30D8!A5!ZJUUU[!X<=3A/62_<1H60C!JQ8! VYXFVXY! G&$<7*-,08!_5!B58!L&$$&((8!=5!K58!R"33*%8!K5!T58!R-11'8!G5!S58!B&'8!T58!A&%,30'8!G5!S58! >**27*-,08!N5!A58!&%2!>"33"&.,8!R5!?5!ZVadd[!K63/3.H2b0964AC20#2960C0"E!RK8!baF YJ! VaY! !  A]B]A]QN]C! da5! aU5! aV5!  aJ5! aO5! aI5! ab5! aY5! aX5! ad5! aa5! VUU5! VUV5! VUJ5! VUO5! VUI5! VUb5! VUY5! VUX5! VUd5! VUa5! VVU5! VVV5! VVJ5! VVO5! VVI5! VVb5!  h-"%(0$*8!A5!M58!_-.08!A58!C."(78!N58!T*7%,*%8!K5!G58!N*((*%8!R5!L58!A*.0$*8!A58! &%2!]:&%,8!K5!?5!ZVaab[!,;2W2U:./</2-E4<B0C!JVK8!JUYFJUa! h-"%(0$*8!A5!M58!T*7%,*%8!K5!G58!A*.0$*8!A58!C."(78!N58!M$"&,8!B58!S-0:&$&F |-3*&;&8!B58!N*((*%8!R5!L58!&%2!]:&%,8!K5!?5!ZVaab[!+A4B</!NQR8!bOXFbIU! `"3+'8!K58!`7&%8!`58!K*$$",8!`58!R&%"03,8!T58!S$&'8!A58!K&;"338!E58!K&$("%8!L58! =7*.9,*%8!G58!M31"$0:")8!|58!`0%%'8!C58!L*40$8!C58!C(-$;",,8!C58!M%-.+&8!R58! K&,*%8!S58!='20.&%8!S58!C**(7"338!G58!L$&)<30'8!`58!E*-;7%&8!G58!N&.0$*%8!M58! `-.&$8!C58!&%2!L-330%8!G5!ZJUUX[!KWU-!JJQ8!aUIFaUb8!0aUVFaUI! K&(,0338!R5!S58!&%2!=&$&%(&38!M5!B5!ZJUUJ[!X<=3A/62_<1H60C!JV8!IXUFIXY! L0)<8!M5!R5!ZVaXV[!W2T60C!JYP8!XdIFXda! S3")<8!G5!E58!_&$$",*%8!K5!A58!Q*&338!A5!M58!&%2!H"33&8!A5!E5!ZVadO[!W0964AC20#2 1<=3A/63B2.96"<6E!JW8!YdVFYdX! _&$$",*%8!K5!A58!A*,,8!Q58!Q*&338!A58!&%2!20!E*$"."0$8!M5!M5!ZVadO[!W0964AC20#2 1<=3A/63B2.96"<6E!JW8!JIXFJbY! `"(&;&4&8!_58!G$"%;308!`5!N58!`*"<08!T58!|-))*33*8!T58!&%2!Q&<&2&8!`5!ZJUUV[! W0964AC20#21<=3A/63B2.96"<6E!NR8!VYadFVXUO! K-$08!G5!f58!S03&,8!=58!R"/*-28!B58!S-0$$0(8!C58!L0%)7&"+8!K58!_&$(.&%%8!R5!T58!&%2! K*-$"\-&%28!G5!ZJUUY[!W2T60C!JVP8!VbIdFVbbd! K&(,0338!R5!S58!K*<8!M58!&%2!=&$&%(&38!M5!B5!ZJUUJ[!Y3=4<E2!4/!RJ8!VJYOFVJYa! =&$&%(&38!M5!B58!_&%8!H5!`58!N*)7$-.8!`5!N58!K*<8!M58!2&C"3:&8!K58!&%2!K&(,0338!R5! S5!ZJUUV[!Y3=4<E2!4/!PX8!IIYFIbY! f&%;8!C5!G58!>**318!M5!C58!h-"%%8!B58!&%2!>"%'&$28!G5!T5!ZJUUV[!,;2W2XA/H0C!JPX8! VUaFVVX! K02/0+0-$8!M5!M58!L-,,"0$0,8!E58!S&,,0$8!L58!S".*%0(8!H58!&%2!E&+*$208!`5!ZVaaX[! ,;2W2XHE.30C!KVN8!BOXJFOXa! C(0"%7&$2(8!S5!B58!H*;30$8!S58!C&3"%&,FK&2$";&38!E58!&%2!E&A0;"%&8!K5!ZVadd[! W0964AC20#21<=3A/63B2.96"<6E!KN8!VVJXFVVOU! E"&9",8!_58!f-8!_58!&%2!C(0"%7&$2(8!S5!B5!ZJUUU[!W2T60C!JRQ8!bVVFbVX! C(0"%7&$2(8!S5!B58!C&3"%&,FK&2$";&38!E58!20K033*8!R58!B&$+0$8!A58!G7"33"9,8!L58!&%2! H*;30$8!S5!ZVaaI[!W2T60C!JPK8!JVOOFJVOd! C(0"%7&$2(8!S58!C&3"%&,FK&2$";&38!E58!B&$+0$8!A58!E'%)78!A58!&%2!H*;30$8!S5!ZVaaU[! W2T60C!JQQ8!bYIFbYYW!2",)-,,"*%!baOFbYI! N-((,8!T5!_58!`$&-,08!>5!T58!&%2!E00,*%8!N5!A5!ZVaXd[!K30C2_<04A/<!NN8!JYIFJXJ! T*,097,*%8!C58!A*+0$(,*%8!L58!N3&0,,*%8!S58!&%2!>"<,(&28!?5!ZVadU[!!45<./2T60C! JV8!IXdFIdO! T*,097,*%8!C58!]$"),*%8!M5!N58!&%2!C/*\-",(8!K5!ZVadb[!W2T60C!JNQ8!OaVFOab! C(0%+0$;8!M58!63,0%8!E58!T*,097,*%8!C58!A*+0$(,*%8!L58!&%2!G0$,,*%8!M5!]5!ZVadb[! 8BA4=2W2T60C2_<1H60C!JX8!VOaFVIY! N7-%;8!`5!_58!&%2!N70:&3"0$8!A5!E5!ZVaaY[!W2T60C!JPP8!VVOaFVVII! N70:&3"0$8!A5!E5!ZVaaY[!W2,;280B2_<1H60C!V8!VUadFVVUb! N70:&3"0$8!A5!E5!ZJUUY[!J9662U1342X<=3A/6!JW8!VbOFVYU! N70:&3"0$8!A5!E5!ZJUUY[!_A/2JC342X6AB/2_<1H60C!K8!VbXFVYd! N70:&3"0$8!A5!E58!B*$+0,8!K5!C58!&%2!=7*$%7"338!L5!M5!ZJUUa[!Y3=4<E2!4/!VP8!VVIbF VVbJ! `3&7$8!C58!&%2!K*$$",,0'8!T5!ZJUUJ[!,;2W2XHE.30C2&<4AC2XHE.30C!KWN8!BdYVFdXb! VaX! !  A]B]A]QN]C! VVY5! N70:&3"0$8!A5!E58!=7*$%7"338!L5!M58!B*$+0,8!K5!C58!&%2!`"30'8!C5!N5!ZJUVU[!X<=3A/63B2 _<1H60C0"E!KP8!YdXFYaX! VVX5! N70:&3"0$8!A5!E5!ZVaaa[!X<=3A/62_<1H60C!JN8!YVJFYVa! VVd5! =7*$%7"338!L5!M58!L-$(8!E5!]58!N70%8!N58!B*$+0,8!K5!C58!&%2!N70:&3"0$8!A5!E5!ZJUUb[! Y3=4<E2!4/!RV8!IJFbJ! VVa5! ]22'8!M5!M58!E*90DFS-",&8!T5!K58!6<&.-$&8!R5!K58!&%2!f&.&;-)7"8!?5!ZJUVV[! X<=3A/62_<1H60C!! VJU5! S"9,*%8!=5!S58!M%20$,*%8!]5!]58!&%2!L$&21*$28!>5!R5!ZVaXY[!JC342X<=3A/627XH3CA>! JP8!daYFaUU! VJV5! C9"(D0$8!M5!ZVaaY[!X<=3A/62_<1H60C!JY8!JOUFJOb! VJJ5! >$";7(8!]5!T58!K)N&11$0'8!=5!M58!A*+0$(,*%8!M5!G58!H&-;7&%8!]5!R58!T$58!&%2!B03,0%8! R5!ZVaaY[!+A:2!45<./!VQ8!bJdFbOX! VJO5! >**318!M5!C58!G$")08!`5!E58!C)&.+30$8!G5!T58!&%2!>"%'&$28!G5!T5!ZJUUI[!W2,;280B2 _<1H60C!JP8!aadFVUUX! VJI5! >**318!M5!C58!&%2!>"%'&$28!G5!T5!ZJUUJ[!X<=3A/62]<52XA/H0C!P8!VUdFVJa! VJb5! K&(,0338!R5!S5!ZVaad[!,;2W2Y3=4<E2]3.!NK8!bObFbIO! VJY5! M$&<"8!=58!C&$-(&8!=58!6<&%*8!_58!&%2!K"-$&8!K5!ZVaaa[!RS12J<CC2&<.!KQW8!IJOF IJa! VJX5! `"(&;&4&8!_58!G$"%;308!`5!N58!`*"<08!T58!|-))*33*8!T58!C0<"8!f58!B-/"4&<"8!C58!C&(*8!_58! Q&;&08!_58!&%2!Q&<&2&8!`5!ZJUUO[!W0964AC20#21<=3A/63B2.96"<6E!NW8!VXdbFVXda! VJd5! ]2*-;&8!R58!_-;-0%'8!L58!S&,,0$8!L58!L-,,"0$0,8!E58!&%2!E&+*$208!`5!ZJUUV[!,;2W2 XHE.30C2&<4AC2XHE.30C!KWJ8!BJYFOX! VJa5! h-"%3&%8!K5!A58!R*)70$('8!Q5!S58!>&(,*%8!A5!>58!&%2!B"(D9&($")<8!T5!K5!ZJUUd[!,;2 W2XHE.30C2&<4AC2XHE.30C!KXP8!BVFBVV! VOU5! C)7-3,"%;0$8!R5!M58!S-3."8!B5!M58!N7*-8!C5!f58!K**99&%8!#5!K58!&%2!`".8!_5!ZVaaX[! W2T60C!JPV8!VabVFVabY! VOV5! A*7&(;"8!A58!&%2!B3*$0,8!R5!ZJUVU[!J9662U1342_<1H60C2LE1<6/<4.!JX8!YbFXV! VOJ5! E&%D*%08!T5!M58!S-3."8!B5!M58!N7*-8!C5!f58!K**99&%8!#5!K58!&%2!`".8!_5!ZVaab[!W2 T60C!JPN8!JUbbFJUba! VOO5! S&-2"*8!`5!K58!C"0;038!Q5!T58!_&',30((8!T5!G58!&%2!`&,7;&$"&%8!K5!ZVadU[!,;2W2 XHE.30C!KNW8!BJUbFJUa! VOI5! C)7$0"%0$8!S5!B58!_&$$",8!`5!G58!G-$<0$,*%8!K5!E58!&%2!`3&7$8!C5!ZVadd[!Y3=4<E2!4/! NQ8!IdXFIaO! VOb5! R"&.*%28!T5!A58!`00,FB*3(,8!R58!R"%;8!S58!B$'08!T5!]58!&%2!A0,($09*8!Q5!N5!ZVaaI[! ,;2W2XHE.30C!KRR8!BaJYFaOO! VOY5! S*%)&3:0,8!A5!S58!S&+$")78!E58!A*,&$"*8!M58!T$58!=&<"'&8!N5!K58!B0$$0"$&8!K5!E58! N7"&$"%"8!E5!L58!G0$,0)7"%"8!G5!K58!N*-("%7*FC"3:&8!A58!&%2!E0"(08!K58!T$5!ZJUUY[! Y3=4<E2!4/!VY8!VbaaFVYUY! VOX5! E0%2&8!R5!K58!`"<&4&2&8!]58!C(&%30'8!]5!A58!&%2!`0330'8!H5!A5!ZJUUO[!W2!;;940C! JVY8!OJbIFOJYJ! VOd5! >&2&8!=58!B-$-")7"8!`58!C&<&"8!Q58!?4&(&8!f58!`"(&;&4&8!`58!?,7"2&8!f58!`*%2*8!=58! _&,7".*(*8!_58!?,7"4&(&8!f58!K-<&"2&8!Q58!=*.*,-;"8!Q58!K&(,-,7".&8!`58! ];&,7"$&8!`58!&%2!f*<*'&.&8!_5!ZJUUI[!W2,;280B2_<1H60C!JP8!aIUFaId! VOa5! `"(&;&4&8!`58!>&2&8!=58!B-$-")7"8!`58!_&,7".*(*8!_58!?,7"4&(&8!f58!M,&%*8!K58! =&<0'&8!K58!`-D"038!>5!M58!K&(,-,7".&8!`58!K-<&"2&8!Q58!&%2!f*<*'&.&8!_5! ZJUUI[!,;2W2XA/H0C!JRP8!JOXFJIY! Vad! !  A]B]A]QN]C! VIU5! =&9.0"0$8!=5!=58!B0&$%8!M58!L$*4%8!`58!N7*427-$'8!G58!C&)<,8!C5!_58!C700$"%8!Q5!C58! &%2!>*%;8!>5!ZJUVU[!Y3=4<E2!4/!VW8!ObVFOYJ! VIV5! =$-*%;8!E5!R58!G0($-,0:,<&8!S58!f&%;8!S58!S-$9"%&$8!=58!C7&990338!C58!E0)7&;*8!T58! A*-,08!R58!&%2!C-<"8!>5!Q5!ZVaaY[!Y3=4<E2!4/!PY8!JUUFJUX! VIJ5! S*+08!S5!N58!&%2!M@03,0%8!A5!M5!ZVadX[!+A:2!45<./!PR8!JXOFJdV! VIO5! R*)70$('8!Q5!S58!6iC-33":&%8!65!]58!_0&3'8!R5!M58!B"(D9&($")<8!T5!K58!&%2!>&(,*%8!A5! >5!ZJUUY[!,;2W2XHE.30C2&<4AC2XHE.30C!KXY8!BIFVO! VII5! N&)7&(8!B58!E&%;0FC90$&%2"*8!L58!N7&%;8!M5!f58!`"30'8!C5!N58!=7*$%7"338!L5!M58! B*$+0,8!K5!C58!&%2!N70:&3"0$8!A5!E5!ZJUUO[!Y3=4<E2!4/!RN8!bYIFbXb! VIb5! |7&%;8!S58!632$*'28!C5!R58!_-&%;8!E5!_58!f&%;8!L58!E"8!f58!f08!A58!&%2!]3!Q&7&,8!M5!K5! ZJUUV[!RS12_<1H60C!X8!XVFdU! VIY5! N70:&3"0$8!A5!E58!C."(78!N5!R58!>*3,(0%7*3.08!T58!`$&/04,<"8!C58!&%2!A0028!T5!N5! ZJUUU[!RS12_<1H60C!W8!VVbFVJJ! VIX5! S$&%208!K5!=58!&%2!E*90DFQ*:*&8!T5!K5!ZJUUa[!_A/96<2&<53<F.2_<1H60C0"E!P8! OVaFOJd! VId5! ]22'8!M5!M5!ZJUUU[!X<=3A/62_<1H60C!JP8!JaUFOUV! VIa5! C($-(D8!B58!&%2!|0",+0$;8!K5!ZJUUY[!W2,;280B2_<1H60C!JV8!JaaJFJaad! VbU5! |0",+0$;8!K58!&%2!Q0"3,*%8!]5!S5!ZJUVU[!W2,;280B2_<1H60C!KJ8!VdVaFVdOI! VbV5! K"'&/".&8!M58!N70%8!T58!E&4$0%)08!N58!E02+0((0$8!C58!C*,3*48!A5!M58!C(0$%8!T58!T7&8!C58! G";&(*8!T58!E0.0$8!K5!E58!G*99&,8!R5!G58!H&-;7&%8!]5!R58!&%2!B03,0%8!R5!ZJUUU[! Y3=4<E2!4/!PW8!JOUVFJOVO! VbJ5! `&%0(*8!_58!K*$$",,0'8!T58!&%2!`3&7$8!C5!ZVaaO[!Y3=4<E2!4/!QQ8!OVOFOJV! VbO5! R"&.*%28!T5!A58!E0:"%,*%8!K58!`$0",+0$;8!A58!&%2!A")&$2*8!C5!R5!ZVaaX[!Y3=4<E2!4/! PJ8!VVOOFVVOa! VbI5! C&(*8!K58!K-$&;&<"8!f58!C&"<&8!C58!A*+0$(,8!M5!L58!&%2!6*,7".&8!M5!ZJUUO[!W2JC342 !45<./!JJK8!VIdYFVIaI! Vbb5! B0$%8!A5!T58!f0,<*8!N5!K58!=7*$%7"338!L5!M58!`".8!_5!C58!C."(7"0,8!658!&%2!N70:&3"0$8! A5!E5!ZVaaa[!W2JC342!45<./!JYN8!OaFIY! VbY5! K",,0$"8!A58!&%2!K032$-.8!`5!`5!ZJUUb[!J9662T60C2&<1!R8!VIUFVIb! VbX5! K"'&/".&8!M58!`*,&<&8!=58!C0(&8!`58!M,&%*8!=58!#.0D&4&8!`58!&%2!_&'&<&4&8!K5! ZJUUO[!W2T60C!JRX8!VbbaFVbYO! Vbd5! S0$(78!T5!_58!`$"0;,.&%%8!T58!=$"%78!=5!=58!C(&738!A5!M58!>0%2(8!=58!C*..0$8!K58! C(0"%8!S58!&%2!>*318!S5!ZJUUJ[!Y3=4<E2!4/!RJ8!YdFXa! Vba5! K&$("%0DFK&32*%&2*8!K58!R03&1*%(&"%08!G58!M%4&$8!M58!B&(78!`5!M58!G".0%(038!T5! E58!L0$%,(0"%8!`5!]58!E-*8!N58!>&%;8!C58!&%2!L0%&+08!T5!]5!ZVaaO[!I6A4.2,..0B2,;2 XHE.3B3A4.!JYR8!VJUFVJX! VYU5! G".0%(038!T5!E58!T$58!K&$("%0DFK&32*%&2*8!K58!>"3)*@8!T5!Q58!>&%;8!C58!&%2!E-*8!N5! ZVaaO[!Y3=4<E2!4/!QQ8!OaUFIUU! VYV5! A")&$2*8!C5!R58!B$&%D*%"8!R5!B58!A*0,0%0$8!N5!R58!N$",.&%8!T5!K58!&%2!R"&.*%28!T5! A5!ZJUUU[!,;2W2XHE.30C2&<4AC2XHE.30C!KVW8!BXUdFXVY! VYJ5! R"&.*%28!T5!A58!A")&$2*8!C5!R58!&%2!`3&7$8!C5!ZVaad[!8<;342_<1H60C!JW8!baIFYUJ! VYO5! `3&7$8!C58!&%2!K*$$",,0'8!T5!ZVaad[!,;2W2Y3=4<E2]3.!NJ8!VXVFVXY! VYI5! K*$$",,0'8!T5!T58!&%2!`3&7$8!C5!ZVaaX[!Y3=4<E2!4/!PK8!aJYFaOO! VYb5! `033%0$8!R58!N70%8!T58!A")7&$2,*%8!?58!C0,7&%8!C5!H58!]3!N7&&$8!K58!H&-;7&%8!]5!R58! T$58!G*99&,8!R58!&%2!B03,0%8!R5!ZJUUY[!W2T60C!JVR8!dUYFdVJ! Vaa! !  A]B]A]QN]C! VYY5! K*$$",,0'8!T5!T58!?,7"2*'&8!C58!K)N$&)<0%8!A58!&%2!`3&7$8!C5!ZVaaY[!W2,;280B2 _<1H60C!V8!JJUJFJJVJ! VYX5! >-8!>5!G58!N7&%;8!N5!_58!N7"-8!f5!=58!`-8!N5!E58!>0%8!K5!N58!C7-8!`5!_58!&%2!>-8!K5!T5! ZJUVU[!,;2W2XHE.30C2&<4AC2XHE.30C!KXX8!BaJaFaIV! VYd5! C&@0%8!E5!ZVadX[!U6"A40"<4<.3.20#2/H<2O3=4<E?28!N&.+$"2;0!#%":0$,"('!G$0,,8! N&.+$"2;05! VYa5! K&2,0%8!`5!K58!&%2!=",70$8!N5!N5!ZVadY[!,;2W2XHE.30C!KPY8!BVFVb! VXU5! M390$8!C5!E58!Q&(&308!T58!S3-)<8!C58!E*2",78!_5!B58!&%2!L$*4%8!R5!ZVada[!X60B2_A/C2 ,BA=28B32T282,!WR8!bIJaFbIOO! VXV5! =0%;F-.%-&'8!G58!H0$3&%20$8!T5!>58!f-&%8!>58!=",70$8!N5!N58!&%2!K&2,0%8!`5!K5! ZVaaY[!W2,;280B2_<1H60C!V8!JYUFJXI! VXJ5! >&338!C5!K58!_&,,0338!`5!M58!A*'&-@8!?5!]58!S$00%8!]5!R58!N7&%;8!T5!f58!C7"930'8!S5!E58! &%2!H0$3&%20$8!T5!>5!ZJUUO[!,;2W2XHE.30C2&<4AC2XHE.30C!KWQ8!BJJaFJIV! VXO5! >0"%0$8!?5!R58!&%2!_&..8!E5!E5!ZVaaU[!W2JC342!45<./!WP8!JXIFJdV! VXI5! H0$3&%20$8!T5!>58!K"330$8!A5!=58!B$&%<8!M5!]58!A*'&-@8!?5!]58!`".8!f5!_58!&%2!>0"%0$8! ?5!R5!ZJUUO[!,;2W2XHE.30C2&<4AC2XHE.30C!KWQ8!BOJOFOOX! VXb5! B0/0,F=*(78!S58!&%2!Q&$&'FB0/0,F=*(78!M5!ZVaaJ[!X60B2_A/C2,BA=28B32T282,!WX8! bIdXFbIaV! VXY5! B0/0,F=*(78!S58!&%2!Q&$&'FB0/0,F=*(78!M5!ZVaaO[!X<=3A/62_<1H60C!V8!XdUFXdI! VXX5! _&%,0%8!S5!G58!=",70$8!N5!N58!&%2!A*+"%,*%8!A5!A5!ZVadU[!Y3=4<E2!4/!JV8!OJYFOOX! VXd5! `&",,3"%;8!L58!&%2!`$"D8!>5!ZVaXa[!,=52,4A/2R;:6E0C2J<CC2K30C!PR8!VFVJO! VXa5! E0B-$;0'8!M58!&%2!=",70$8!N5!N5!ZVaXa[!,;2W2,4A/!JPP8!VVVFVJI! VdU5! N3&998!>5!E58!K&2,0%8!`5!K58!H0$3&%20$8!T5!>58!&%2!=",70$8!N5!N5!ZVadX[!Y3=4<E2 !4/!NJ8!VUdUFVUdX! VdV5! `".8!T58!`".8!f5!_58!N7&8!T5!_58!=",70$8!N5!N58!&%2!K&2,0%8!`5!K5!ZVaaa[!W2,;280B2 _<1H60C!JY8!VFVJ! VdJ5! `".8!T58!=",70$8!N5!N58!&%2!K&2,0%8!`5!K5!ZVaaI[!,;2W2XHE.30C!KRR8!BaXXFaaU! VdO5! C*%;8!_5!`58!`".8!>5!f58!E008!_5!>58!G&$<8!]5!f58!_&%8!`5!_58!Q"03,0%8!C58!K&2,0%8!`5! K58!&%2!`".8!T5!ZJUUX[!W2,;280B2_<1H60C!JW8!JYXJFJYdJ! VdI5! K)H&$'8!`5!=58!&%2!K&"D03,8!K5!ZVada[!W2T60C!JQK8!YIYFYbVW!2",)-,,"*%!YYXF YId! Vdb5! T&:&29*-$8!Q58!S$&D"&%*8!K5!B58!&%2!=0$$"338!A5!ZVaXI[!IH<2W0964AC20#2.96"3BAC2 6<.<A6BH!JV8!OIVFOIb! VdY5! R",,"%;8!=5!_58!],<"32FT0%,0%8!M58!G&;78!N58!B$*<"&0$8!T58!A073"%;8!K58!T*$;0%,0%8!_5! C58!T*$;0%,0%8!=5!K58!&%2!R/-$7--,8!T5!N5!ZJUUV[!W2T60C!JRR8!JObIFJObd! VdX5! L0$.&%8!R5!T58!&%2!K&"D03,8!K5!ZVadJ[!W2T60C!JKW8!VUaVFVUaY! Vdd5! N$&'0%8!K5!E58!&%2!=7*0%0,8!>5!ZVaXd[!JE/0:30C0"3<!JV8!VaXFJVV! Vda5! `&",,3"%;8!L5!ZVadJ[!,;2W2XHE.30C!KQN8!BJVVFJJY! VaU5! K'0$,8!N5!]58!L-3;0$8!A5!]58!=",70$8!N5!N58!&%2!=$-.98!L5!B5!ZVaYY[!+A:2!45<./!JP8! VaJVFVabU! VaV5! >**27&338!G5!L58!&%2!=",70$8!N5!N5!ZVaXO[!W2JC342!45<./!PK8!OUabFOVUd! VaJ5! R00%8!G5!K58!H0$2"/<8!K5!M58!`%*0$,8!Q5!H58!>"0$"%;&8!L58!K*%%0%,8!E5!M58!:&%!6,8! N5!_58!&%2!:&%!6*,(8!L5!M5!ZVaaI[!8B3<4B<!KRQ8!aJFab! VaO5! A&,(&32"8!K5!G58!B0$$&$"*8!B58!S"&$2"%*8!E58!R033iM%(*%"*8!S58!S$"33*8!N58!S$"33*8!G58! C($-(D8!B58!K-330$8!S5!M58!N*3&,&%("8!S58!&%2!RiM.")*8!S5!ZJUUJ[!Y3=4<E2!4/!RK8! VOXFVIY! JUU! !  A]B]A]QN]C! VaI5! L$*4%8!R58!`-.9-3&"%0%8!=58!A*(78!T58!&%2!6$)"8!E5!ZVadO[!,;2W2XHE.30C!KQP8! BVVUFVVd! Vab5! `".8!T58!=",70$8!N5!N58!E"%,0$8!G5!T58!&%2!K&2,0%8!`5!K5!ZVaaU[!W2,;280B2_<1H60C!J8! JIbFJbY! VaY5! C)7*3D0%8!=58!&%2!S0$20,8!T5!ZJUUU[!W2J<CC2XHE.30C!JWK8!OVVFOJJ! VaX5! Q;8!f5!f58!_-&%;8!=5!G58!f&%;8!>5!N58!N70%8!|5!G58!f&%;8!M5!_58!K-8!>58!Q"<*3")F G&(0$,*%8!R5!T58!M(<"%,8!A5!N58!&%2!E&%8!_5!f5!ZVaad[!Y3=4<E2!4/!PQ8!dYIFdXY! Vad5! f&%;8!T58!&%2!E"-8!f5!ZJUUV[!,;2W2XA/H0C!JPX8!VIYbFVIXb! Vaa5! S$",&$-8!C58!N&%*FS&-)"8!R58!=008!T58!B"3.-,8!T58!&%2!A*,0%+3-.8!Q5!R5!ZJUUV[!]<52 K30C!KNJ8!OVFIY! JUU5! C7"+&(&8!C58!&%2!Q&;&(&8!K5!ZJUUO[!X<=3A/62!4/!QP8!YUbFYUa! JUV5! N70:&3"0$8!A5!E58!S*'&38!C58!>*3,(0%7*3.08!T5!=58!&%2!=7*$%7"338!L5!M5!ZVaad[! Y3=4<E2!4/!PQ8!OdFIX! JUJ5! f&+-<"8!M58!K&02&8!K58!K&(,-.*(*8!K58!`&.".-$&8!A58!K&,-'&.&8!=58!&%2! C-D-<"8!C5!ZJUUb[!RS12,43;!PQ8!bOFYU! JUO5! K*$$",,0'8!T58!S-*8!S58!K*$"2&"$&8!`58!B"(D;0$&328!K58!K)N$&)<0%8!A58!=*330'8!=58! &%2!`3&7$8!C5!ZJUUJ[!W2,;280B2_<1H60C!JN8!VIaaFVbUd! JUI5! |0",+0$;8!K58!_&%&"8!T58!C-;".*(*8!_58!K&..*(*8!=58!N7&$'(&%8!R58!C($-(D8!B58!&%2! `&33-$"8!A5!ZJUUO[!_A/2@<=!X8!aYIFaYd! JUb5! N*340338!M5!C58!E*%;&<0$8!K5!=58!&%2!E*$0%D8!_5!G5!ZJUUO[!*604/2K30.B3!W8!,VJIUF VJId! JUY5! _&%8!C5!#58!E008!_5!f58!E008!T5!_58!`".8!>5!_58!Q&.8!_58!`".8!_58!N7*8!f5!`58!`".8!K5! >58!&%2!E008!`5!#5!ZJUUb[!,442896"!KQK8!YXYFYdO! JUX5! ])<0,8!L58!R*;")8!R58!N*3-))"FS-'*%8!]58!>&%;8!Q58!K&%"*(",8!M58!?%;+0$8!R58! K0$)<3"%;8!M58!E&%;&8!B58!M-.&"330'8!K58!R03*-:008!M58!`*(03"&%,<'8!H58!L&+"%0(8! N58!&%2!`$"0;8!=5!ZVaad[!W2J<CC28B3!JJJ,a,!(,JNb8!VdaXFVaUX! JUd5! _*340338!=5!M58!C)740"(D0$8!C5!N58!&%2!]:&%,8!A5!K5!ZVaaX[!W2J<CC28B3!JJY,a,!(,JRb8! VaIXFVabY! JUa5! _03.<08!L5!G58!=7&<<0$8!R5!L58!S*32.&%8!A5!R58!&%2!R&:"0,8!G5!B5!ZJUUV[!K301HE.2W! WY8!VdIFVaI! JVU5! L3*.\:",(8!C5!A58!H"2&$,,*%8!_58!B"(D;0$&328!C58!T*7&%,,*%8!L5!A58!6330$,(&.8!M58! L$*4%8!A58!G0$,,*%8!M5!]58!L0$;,($*.8!S5!S58!&%2!]%0$+&)<8!C5!ZJUUI[!W2JC342 !45<./!JJN8!VbYUFVbXU! JVV5! N*(,&$03",8!S58!N70%;8!C5!|58!R*%;8!S58!C-%8!=5!=58!&%2!E&:<0$8!A5!K5!ZVada[!J<CC! PV8!JUVFJUa! JVJ5! T*7&%,,*%8!N5!L58!K*..&8!C58!N3&$<08!R5!E58!A",3"%;8!K58!E0%2&738!#58!&%2!B$",0%8!T5! ZVaaa[!J<CC!XR8!JbFOI! JVO5! E&:<0$8!A5!K58!&%2!C-%8!=5!=5!ZJUUU[!X60B2_A/C2,BA=28B32T282,!XV8!VOIXOFVOIXb! JVI5! 63":0$8!T5!M58!K&&$*-18!658!N700.&8!B5!_58!K&$(0%,8!=5!G58!&%2!M3FM4\&("8!h5! ZJUUI[!W2JC342!45<./!JJQ8!XabFdUI! JVb5! K&0,7".&8!M58!f&.&,7"(&8!C58!&%2!Q*/".&8!f5!ZJUUO[!W2,;280B2_<1H60C!JQ8! OVOdFOVIY! JVY5! f&.&,7"(&8!C58!K&0,7".&8!M58!&%2!Q*/".&8!f5!ZJUUb[!W2,;280B2_<1H60C!JR8! JUIIFJUbV! JVX5! K"'&/".&8!M58!N70%8!T58!G*99&,8!R5!G58!H&-;7&%8!]5!R58!T$58!&%2!B03,0%8!R5!ZJUUV[! Y3=4<E2!4/!PX8!VJaUFVOUO! JUV! !  A]B]A]QN]C! JVd5! N*70%8!=58!E*-(*)7"%8!658!M."%8!K58!N&9*3"))7"*8!T5!G58!S**2'0$8!G58!&%2!T02%&<8! A5!ZJUUX[!,;2W2XHE.30C2&<4AC2XHE.30C!KXK8!BVJYXFVJXO! JVa5! =7*$%7"338!L5!M58!B*$+0,8!K5!C58!K&$)"%<*8!]5!C58!&%2!N70:&3"0$8!A5!E5!ZJUUX[! Y3=4<E2!4/!VK8!VVUOFVVVJ! JJU5! `".8!_58!62&8!=58!E*90DFS-",&8!T58!>"%;8!R58!]24&$2,8!R5!A58!C*3*4&'8!G5!R58!&%2! ]22'8!M5!M5!ZJUUV[!W2,;280B2_<1H60C!JK8!XOYFXId! JJV5! `-4&+&$&8!Q58!=&.&2&8!C58!?4&"8!=58!=0$&.*(*8!`58!`&%02&8!Q58!f-<".-$&8!=58! Q&<&(&%"8!=58!&%2!K"-$&8!`5!ZJUUY[!T60C0"E!RV8!IIUFIIY! JJJ5! C7&$.&8!M5!`58!K&-0$8!C5!K58!`".8!f58!&%2!K")7&038!M5!B5!ZVaab[!W2+A:2JC342@<=! JKP8!XbIFXYV! JJO5! N*)7$&%08!M5!E58!`0((8!K5!K58!C&.-038!N5!C58!N&.9&%&308!Q5!H58!M%20$,*%8!>5!G58! _-.08!R5!M58!E"((308!K5!_58!L0$($&.8!T5!B58!&%2!A")&$2*8!C5!R5!ZJUUb[!W2,;280B2 _<1H60C!JR8!OYJOFOYOU! JJI5! ?,7"+08!C58!&%2!N&%(30'8!E5!S5!ZJUUd[!J9662U1342_<1H60C2LE1<6/<4.!JV8!OXaFOdb! JJb5! H0$;70,08!]58!>0"20%10328!A58!L0$($&.8!T5!B58!A")&$2*8!C5!R58!&%2!R0&%08!T5!M5! ZJUUd[!_<1H60C2]3AC2I6A4.1CA4/!KN8!dOIFdIV! JJY5! >&%;8!E58!>0"20%10328!A58!H0$;70,08!]58!A")&$2*8!C5!R58!&%2!R0&%08!T5!M5!ZJUUd[!W2 ,4A/!KJN8!XaFdb! JJX5! Q"3"-,8!L5!ZJUUX[!K30BH3;2K301HE.2,B/A!JVVK8!dUbFdVJ! JJd5! >*-20%+0$;FH$0%<0%8!=5!]58!L"%203,8!A5!T58!&%2!_*0%20$*98!T5!S5!ZJUUa[!_A/2 &<52_<1H60C!P8!IIVFIIa! JJa5! H$"0%,8!T58!>&(&%&+08!_58!T&%,,0%,8!M58!R$**;.&%,8!S58!H*0(,8!=58!&%2!Q"3"-,8!L5! ZJUUI[!X60B2_A/C2,BA=28B32T282,!JYJ8!OaYFIUV! JOU5! E*-<"%8!C58!C-8!|58!|7*-8!o58!&%2!`-%;8!N5!ZJUVU[!W2K30C2JH<;!KWP8!VaddIFVadaU! JOV5! B&%8!_5!N58!|7&%;8!o58!&%2!K)Q&-;7(*%8!G5!M5!ZJUUa[!W2K30C2JH<;!KWQ8!JXddIF JXdaV! JOJ5! >0;"0$,<"8!=58!E04&%2$*4,<"8!#58!K-330$8!L58!C")<.&%%8!M58!&%2!>&3D8!S5!ZJUUa[! W2K30C2JH<;!KWQ8!JaJOFJaOO! JOO5! o-8!_58!B-8!f58!="&%8!>58!&%2!N*70%8!R5!K5!ZJUUY[!,;2W2XHE.30C2&<4AC2XHE.30C! KXY8!BVVUOFVVUa! JOI5! C7-<3&8!M5!`58!`".8!T58!M7%8!C58!o"&*8!`58!C70%*'8!C5!`58!E"02(<08!>58!&%2!E01<*4"(D8! A5!T5!ZJUVU[!W2K30C2JH<;!KWP8!OUVVbFOUVJb! JOb5! A0"(0$8!L58!`$&1(8!A58!S-%D038!R58!|0",,";8!C58!C)7-3D<08!T5!R58!B$*..8!K58!&%2! _&$(0%0)<8!N5!ZJUUY[!*A.<:2W!KY8!VdUJFVdVJ! JOY5! C*<&+08!=58!B-<-."F=*."%&;&8!=58!f*%0.-$&8!C58!K"D-%*8!M58!&%2!=*."%&;&8!K5! ZJUVU[!W2K30C2JH<;!KWP8!VdXIaFVdXbd! JOX5! E*$0%D*8!?5!K58!E"02(<08!>58!C&%20$,*%8!K5!T58!&%2!H&3:0$208!K5!M5!ZJUUd[!X60B2 _A/C2,BA=28B32T282,!JYP8!VJYVVFVJYVY! JOd5! M%2$&208!f5!Q58!B0$%&%20,8!T58!H&D\-0D8!]58!B0$%&%20DFB0$%&%20D8!T5!K58! M$%";0,8!K58!C&%)70D8!=5!K58!H"33&3*%8!K58!&%2!H&3:0$208!K5!M5!ZJUUb[!W2J<CC2K30C! JRW8!dYaFdXI! JOa5! N&,&,8!C58!Q*:"&3,8!M58!A0".&%%8!B58!S*.",8!A58!&%2!S$"++308!B5!K5!ZJUUd[! ]3A:</0C0"3A!PJ8!JJbJFJJYJ! JIU5! K&,-'&.&8!A58!H$"0%,8!T58!H*0(,8!=58!`&$&,7".&8!f58!64,"&%"<8!S58!H0%%0<0%,8!A58! E"0+0%8!E58!=*$$0<0%,8!C58!K*0$.&%,8!`58!H&%20%!L*,)78!M58!L*-"33*%8!A58!Q"3"-,8! L58!&%2!N&$.03"0(8!S5!ZJUUd[!J<CC2@</A:!W8!JbXFJYb! JUJ! !  A]B]A]QN]C! JIV5! K*)7"D-<"8!=58!C*<&+08!=58!M$&<"8!?58!B-/",7"(&8!`58!C7"+&,&<"8!`58!#)7"2&8!`58! Q&$-,08!`58!`*"D-."8!C58!=&<02&8!K58!&%2!=*."%&;&8!K5!ZJUUa[!W2K30C2JH<;!KWQ8! JVJbXFJVJYI! JIJ5! K0%2*D&8!C5!M58!B&%;8!T58!S-((0$.&%8!R5!R58!>"3)*@8!R5!M58!L-+*3D8!M5!_58!E"8!A58! C-D-<"8!K58!&%2!|7&%;8!R5!o5!ZJUVU[!,;2W2XHE.30C2L<A6/2J36B2XHE.30C!KXW8!_IYYF IXY! JIO5! >"330((08!A5!Q58!L&*8!>58!Q0$-$<&$8!C58!f-08!=5!E58!R*08!N5!G58!C(&%<-,8!S58!=-$%0$8! S5!_58!T-8!_58!=7*.&,8!_58!B",7.&%8!N5!]58!C-39"D"*8!M58!L07.8!R5!T58!_*11.&%8!C58! E"%8!|58!E*D"%,<&'&8!?58!N&,"33&,8!E5!Q58!E"%8!K58!=$*-(8!A5!]58!H*((&8!L5!T58!=7*$%03*08! `58!E&,7"%;0$8!]5!C58!B";-0$*&8!R5!T58!K&$\-",8!A58!&%2!o-8!o5!ZJUUd[!W2XHA6;AB0C2 RS12IH<6!NKR8!IIOFIbJ! JII5! ]&$30'8!C58!G&-'*8!=58!R$&998!A58!=&:&$0,8!K5!T58!E"02(<08!>58!&%2!L$&'20%8!T5!]5! ZJUUa[!,;2W2XHE.30C2L<A6/2J36B2XHE.30C!KXV8!_VUaYFVVUJ! JIb5! _&$(.&%%,;$-+0$8!H58!_0'<0%8!>5!=58!`&)"<8!K58!`&",(7&8!M58!S$;")8!?58!_&$(0%0)<8! N58!E"02(<08!>58!_*'0$8!T58!&%2!`*730$8!A5!ZJUUX[!X+082U4<!K8!0dJX! JIY5! =$*"238!N58!=$*"238!`58!C)7"0$3"%;8!>58!N&"8!>5!T58!Q018!_58!K*33.&%%8!_58!`*,("%8!C58! C)7".&%,<"8!C58!_&..0$8!E58!]3,&,,0$8!M58!C)7."(DFA"@0%8!=58!&%2!C)7&90$8!>5! ZJUUa[!W0964AC20#2B<CC9CA62A4=2;0C<B9CA62;<=3B34<!JN8!JYVOFJYJV! JIX5! ="&%8!>58!C&3&%*:&8!K58!o-8!_58!E"%2,30'8!T5!Q58!6'&.&8!=5!=58!M%20$,*%8!C58! L&)7.&%%8!C58!&%2!N*70%8!R5!K5!ZJUUI[!,;2W2XHE.30C2&<4AC2XHE.30C!KWV8!BVXFJI! JId5! =&%";-)7"8!T58!=,-$-*<&8!C58!K"D-%*8!M58!C&(*8!T58!B-/".-$&8!M58!&%2!C-D-<"8!K5! ZJUUX[!,;2W2XHE.30C2&<4AC2XHE.30C!KXK8!BYYXFYXO! JIa5! >-8!E58!S&*8!o58!L$*4%8!A5!N58!_0330$8!C58!&%2!6iQ0"38!A5!S5!ZJUUX[!,;2W2XHE.30C2 &<4AC2XHE.30C!KXN8!BVYaaFVXVO! JbU5! `*((;0%8!K58!L-)77*3D8!L58!S&$)"&FS*%D&30D8!K5!M58!`*(,",8!B58!B-8!o58!R*0$<0%8!K58! L*073<08!N58!C(01138!R58!=&-+0$8!A58!>0;"0$,<"8!=58!Q"(,)7<08!A58!C-D-<"8!K58! `$&.0$F|-)<0$8!M58!S0$."%*8!S5!S58!>&(%")<8!=58!G$0%0%8!T58!Q"3"-,8!L58!`-07%8!]5! >58!&%2!>&3D8!S5!ZJUUd[!W2J<CC2K30C!JWK8!IOXFIIX! JbV5! S$&2"3*%08!C5!M58!K&,'-<8!=5!H58!_-&%;8!L5!h58!L&%&30,8!T5!K58!E07.&%%8!S5!E58! A&2(<08!L5!Q58!C($**908!M58!K&,'-<8!M5!?58!C93"%(0$8!G5!E58!&%2!E&A-,,*8!Q5!B5! ZJUVU[!-A./60<4/<60C0"E!JNX8!OUIFOVI!0OUJ! JbJ5! K"D-%*8!M58!K&(,-.*(*8!Q58!?.&"8!K58!&%2!C-D-<"8!K5!ZJUUO[!,;2W2XHE.30C2J<CC2 XHE.30C!KWP8!NaYFVUV! JbO5! C-D-<"8!K58!K"D-%*8!M58!`*2&"$&8!`58!&%2!?.&"8!K5!ZJUUO[!W2K30C2JH<;!KVW8! JJYYIFJJYYd! JbI5! K"D-%*8!M58!M."D-<&8!Q58!?$"08!`58!K-$&<&."8!M58!B-/",08!Q58!`&%%*8!=58!C&(*8!f58! Q&<&;&4&8!Q58!f&,-2&8!_58!K*)7"D-<"8!C58!S*."+-)7"8!=58!f&%*8!`58!C7".&8!Q58! >&,7"2&8!Q58!=,-2&8!]58!K*$"%&;&8!=58!_";&,7"*8!`58!&%2!6D&4&8!_5!ZVaad[! K30BH<;3BAC2A4=2:301HE.3BAC26<.<A6BH2B0;;943BA/304.!KQV8!YVUFYVb! Jbb5! E"02(<08!>5!ZJUUd[!,442_2c2,BA=28B3!JJQQ8!IJFbJ! JbY5! N70(('8!A58!C0$$&8!C58!&%2!C&3&7,7*$8!C5!ZJUUd[!,;2W2896"2XA/H0C!NK8!VJYaFVJXU! JbX5! N70(('8!A58!C0$$&8!C58!&%2!M,&8!C5!E5!ZJUUd[!,;2W2896"2XA/H0C!NK8!IVOFIVa! Jbd5! C&3&7,7*$8!C58!Q&"2**8!A58!C0$$&8!C58!C7"78!>58!=,&*8!K5!C58!N70(('8!A58!&%2! >**2;0((8!T5!A5!ZJUUd[!@0=2XA/H0C!KJ8!JXVFJdV!  JUO! !  A]B]A]QN]C! Jba5! ]3,(*%8!K5!C58!S"338!M5!T58!N*%&;30%8!T5!H58!N3&$<,*%8!M58!N**<8!A5!T58!E"((308!Q5!C58! A*+"%,*%8!L5!S58!N3"1(*%FL3";78!A5!T58!&%2!K)R*%&328!`5!E5!ZJUUa[!W2JC342 R4=0B6340C2@</A:!XQ8!VIOYFVIIJ! JYU5! S0$:&",8!K5!E58!_0%$'8!G5!N58!C&$&:&%&%8!M58!L-$$'8!=5!Q58!S&33"08!L5!E58!T040((8!K5! M58!_"338!A5!G58!]:&%,8!M5!T58!&%2!6778!K5!ZJUUX[!+A:2!45<./!WV8!VJbJFVJYI! JYV5! _&%8!M5!N58!C*30$8!M5!G58!=&%;8!N5!`58!`%-2,0%8!`5!M58!&%2!C&3&D&$8!_5!ZJUUU[!,6BH2 XA/H0C2+A:2@<=!JKQ8!VVIXFVVbV! JYJ5! A&-)7.&%8!K5!?58!Q";&.8!C5!`58!R039"$08!]58!&%2!S-33&%,8!C5!A5!ZVaaO[!,;2W2 XHE.30C!KRP8!BIVYFIJI! JYO5! #.0%",7"8!B58!Q&$"<"'*8!=58!&%2!C)7$"0$8!A5!>5!ZJUUb[!K30BH<;3BAC2A4=2 :301HE.3BAC26<.<A6BH2B0;;943BA/304.!NNW8!VbaOFVbaa! JYI5! T&%,,0%8!R5!M58!_*0%20$*98!T5!S58!T&%,0%8!`5!N58!`0.98!M5!>58!_00,&<<0$,8!T5!G58! &%2!C)7&3<0%8!T5!M5!ZJUVV[!W2T60C!JWR8!VVJVFVVJX! JYb5! M3FM4\&("8!h58!H"/&'&<-.&$8!C58!&%2!=&<"(*8!T5!ZJUUO[!K30C2JH<;!NWQ8!VJbbF VJbd! JYY5! G*40338!R5!>5!ZVadV[!,;2W2XHE.30C!KQJ8!SJXbFJdd! JYX5! E"-8!f5!ZJUUI[!W2,;280B2_<1H60C!JP8!VFVJ! JYd5! f&%;8!T58!&%2!E"-8!f5!ZJUUJ[!W2,;280B2_<1H60C!JN8!aYFVUX! JYa5! ?4&%*8!K58!G3"0(78!R58!R&%*118!=5!K58!o-08!N58!6<&2&8!_58!&%2!Q0"3,*%8!]5!S5!ZJUUJ[! W2JC342!45<./!JJY8!OIVFObU! JXU5! E"8!E58!|0902&F6$*D)*8!R58!L3&)<8!A58!&%2!E"%8!B5!ZJUVU[!,;2W2XA/H0C!JVR8!VXYXF VXXd! JXV5! B0$%&%20,8!T58!E*$0%D*8!?5!K58!M%2$&208!f5!Q58!S&$)"&F]3"&,8!M58!C0$$&8!C5!M58! B0$%&%20DFB0$%&%20D8!T5!K58!&%2!H&3:0$208!K5!M5!ZJUUd[!W2J<CC2K30C!JWJ8!VIOF Vbb! JXJ5! h-&;;"%8!C5!]58!&%2!`&9-,8!M5!ZJUVV[!Y3=4<E2!4/!WY8!IVFbU! JXO5! S$*%08!_5!T58!>0+0$8!`58!S$*%08!]58!_03.)70%8!#58!&%2!6,+*$%8!K5!ZVadX[!,;2W2 XA/H0C!JKX8!VFd! JXI5! H*%;4"4&(&%&8!M58!=&,&%&$*%;8!M58!A&'%0$8!R5!N58!K03<8!M58!&%2!_&33*$&%8!G5!B5! ZJUUb[!,;2W2I6A4.1CA4/!P8!VOYXFVOXI! JXb5! >"(D;&338!A58!L$*4%8!R58!C)74&$D8!N58!&%2!L*%:0%($08!T5!H5!ZVaaI[!W2JC342!45<./! XN8!JVXbFJVdd! JXY5! `&(&1"&,D8!L5!T58!Q"0.&%8!K5!=58!>7003*)<8!K5!T58!&%2!T*7%,*%8!`5!A5!ZJUUO[!W2K30C2 JH<;!KVW8!JXbVOFJXbVa! JXX5! K0%;8!>58!&%2!=&<0")7"8!K5!ZJUUa[!J0C=281634"2LA6:2X<6.1<B/2K30C!J8!&UUJdaa! JXd5! >7003*)<8!K5!T58!&%2!T*7%,*%8!`5!A5!ZJUUO[!,449AC26<53<F20#2B<CC2A4=2 =<5<C01;<4/AC2:30C0"E!JX8!JUXFJOb! JXa5! >7003*)<8!K5!T58!&%2!T*7%,*%8!`5!A5!ZJUUO[!J9662U1342J<CC2K30C!JP8!bUaFbVI! JdU5! E"8!o58!R0%;8!>58!E*+*FA-990$(8!C5!K58!&%2!A-990$(8!T5!K5!ZJUUX[!U4B0"<4<!KR8! IIdaFIIad! JdV5! N&%*8!M58!G0$0DFK*$0%*8!K5!M58!A*2$";*8!?58!E*)&,)"*8!M58!L3&%)*8!K5!T58!203!L&$$"*8! K5!S58!G*$("33*8!B58!&%2!Q"0(*8!K5!M5!ZJUUU[!_A/2J<CC2K30C!K8!XYFdO! JdJ5! _08!>58!R&"8!N58!E"8!f58!|0%;8!S58!K*%;&8!C5!G58!&%2!E"-8!f5!ZJUUa[!W2,;280B2_<1H60C! KY8!XYbFXXY! JdO5! K&,,D"8!M58!B&%8!E58!A*,":&338!E58!K)N-33*)78!N5!M58!A*(,(0"%8!65!R58!K-),"8!?58!&%2! `&9-,8!M5!ZJUUI[!,;2W2XA/H0C!JRP8!VabbFVaYX! JUI! !  A]B]A]QN]C! JdI5! |*$$"33&8!E5!=58!N&%%*%8!=5!R58!`$*%0%+0$;8!C58!K02%")<8!C5!M58!C)7-3,"%;0$8!B58! G&$%&,8!T58!G$&0,(7*3.8!T58!&%2!H0,(0$;&&$28!M5!ZVaaX[!K30C2X.EBH3A/6E!QK8!VUdUF VUdY! Jdb5! 63"%8!C5!C58!A&"%08!M58!N&%%*%8!=5!R58!G&$%&,8!T58!C)7-3,"%;0$8!B58!&%2!K02%")<8!C5!M5! ZVaaX[!8BH3d01H62K9CC!KN8!aOFVUO! JdY5! G0%;8!_58!E04&%2$*4,<"8!#58!K-330$8!L58!C")<.&%%8!M58!>&3D8!S58!&%2!>0;"0$,<"8! =5!ZJUVU[!K30BH<;3BAC2A4=2:301HE.3BAC26<.<A6BH2B0;;943BA/304.!NXJ8!VXJVF VXJb! JdX5! _&*8!C58!_08!>58!E"8!f58!R"%;8!_58!_*-8!f58!Q"08!T58!_*-8!B5!B58!`&7%8!K58!&%2!E"-8!f5! ZJUVV[!W2,;280B2_<1H60C!KK8!VYIJFVYbO! Jdd5! N0%&)8!Q58!M3("0$8!N58!N7&9.&%8!`58!E"02(<08!>58!|&.9*%"8!S58!&%2!H0$;%*3308!Q5! ZJUUd[!-A./60<4/<60C0"E!JNP8!aOXFaIY8!aIY!0aOVFaOJ! Jda5! L$"2;04&(0$8!R58!N*@8!L58!N&"%8!T58!E&-8!M58!M(7&"208!H58!S"338!G5!C58!`--$08!C58!C&"%"*8! `58!&%2!A*,0%+3-.8!Q5!R5!ZJUUd[!]<52K30C!NJV8!dOFaI! JaU5! K&$*,08!=5!R58!K0$<038!N5!]58!K)K&7*%8!M5!G58!&%2!N&$$*338!=5!T5!ZJUUd[!]<52K30C! NJQ8!VVJFVJY! JaV5! S04"%8!E58!L-3-,8!Q58!K0$%&-;78!S58!K*0)<038!S58!_&$$",8!A5!N58!K*,0,8!_5!E58!G*DD"8! M58!&%2!|0%(8!A5!ZJUVU[!W2,;280B2_<1H60C!KJ8!VOOIFVOIO! JaJ5! B-/"-8!`58!K&%&+08!?58!&%2!Q&;&"8!A5!ZJUVV[!W2JC342!45<./!JKJ8!OIJbFOIIV! JaO5! M3207%"8!B58!C9"(D%0$8!K58!K&$("%,8!T5!A58!L&$$*FC*$"&8!A58!C)7$0"+0$8!A58!&%2! `-%D03.&%%8!`5!ZJUUa[!W2,;280B2_<1H60C!KY8!VbbYFVbYI! JaI5! K&8!_58!C&0%<*8!K58!69-<*8!M58!=*;&4&8!M58!C*2&8!`58!K&$3"0$8!M58!K*0)<038!S5!>58! N&%(30'8!E5!S58!&%2!?,7"+08!C5!ZJUUa[!Y3=4<E2!4/!VR8!dYdFdXY! Jab5! 20!`*<8!T5!L58!A*03*1,8!A5!>58!S"0,0%2*$18!L5!M58!G0%%"%;,8!T5!E58!>&&,8!]5!=58!B0-(78! =58!C4"%<03,8!R5!>58!&%2!C9&%8!G5!Q5!ZJUUb[!+A:2!45<./!WP8!VbIFVba! ! !  JUb! !  

Cite

Citation Scheme:

        

Citations by CSL (citeproc-js)

Usage Statistics

Share

Embed

Customize your widget with the following options, then copy and paste the code below into the HTML of your page to embed this item in your website.
                        
                            <div id="ubcOpenCollectionsWidgetDisplay">
                            <script id="ubcOpenCollectionsWidget"
                            src="{[{embed.src}]}"
                            data-item="{[{embed.item}]}"
                            data-collection="{[{embed.collection}]}"
                            data-metadata="{[{embed.showMetadata}]}"
                            data-width="{[{embed.width}]}"
                            data-media="{[{embed.selectedMedia}]}"
                            async >
                            </script>
                            </div>
                        
                    
IIIF logo Our image viewer uses the IIIF 2.0 standard. To load this item in other compatible viewers, use this url:
https://iiif.library.ubc.ca/presentation/dsp.24.1-0072470/manifest

Comment

Related Items