SlideShare una empresa de Scribd logo
1 de 88
Descargar para leer sin conexión
!"#"$%&'()*+'&"),,%)+-+)'./#00-'1)1'*12+3+4-+)'5"3$"#12'*+2%$%
         &"&#+6+'-"5")5%+)/-"5")5%+)'7"#+,+1'#"31-%5'8
! !"#$%&'#$(%#')*+(*"$"($"%,*"-').$(/%,*"012)3/%,*"04&')%%$&$4%,*+45$6%%'7'%*8522(%'"'%&*+,$74(
  0$,5$+80$,5$+%#$"%&4.'7$"%#'#$.$,"3$%5+)4+'7"191)'4")%$179
! !"#$%&'#$(%#')*+(*"$"($"%&")9%+$%*8522(%'"'%#$.$,%5*"&4(%$)$)4"%:6$+#12)3%$&$4)4"%72;&12)3<9
! =8522(%'"'%#'*#$+($"%4"&4(%4,4,%%7"6+3+',3+517%2.*6%)*"4.'7/%#$"%!"#$%#')*+7'.$($"
  ,*"#'7&+'547'($""3$%7*1$+$%5*5$7/%#*"0$"%73$+$&%171'*1*+$+&):+'51*+-'#"3%#+2%#$"%51*+-'&"&%),%5
  #1+:+'*+31&+)+4%);

                            <+5+5+)'=")51),'>'?&4035+)5'@05"7'8
     >$,5$+80$,5$+%#'#$.$,%54(4%'"'%&*.$6%#'1$"&4,($"%$7$."3$%#$"%)*"4.'7%&'#$(%,*"0(.$',%0$,5$+8
     0$,5$+%3$"0%&'#$(%#'54$&%2.*6%)*"4.'7%7*5$0$'%,'.'("3$9%?'.$,$"$%$#$%3$"0%5*+(*5*+$&$"%5*5*+$)$
     0$,5$+%#',$74(($"%(*%#$.$,%54(4%'"'%:&*+&$,$%)*,'.'(%7*74"0046"3$<%#',262"%4"&4(%,*"06454"0'
                         )*"4.'7%#$"%0$,5$+%&*+7*54&%$($"%#'6$)47%#$+'%54(4%'"'9

    @%6$A*%B+2&*%&6*%2+'0'"%$"#%&6*%2B"*+%2;%&6*%)'1&4+*7%'"1.4#'"0%71+**"762&7%12"&$'"*#%B'&6'"%&6'7%*8522(
     $"#%@%"*A*+%1.$',%$"3%)'1&4+*7%@%#2"C&%1+*$&*%$7%,'"*9%@;%$"32"*%,'"#7%72,*%)'1&4+*7%'"1.4#*#%'"%&6'7%*8
               522(%:7)*1'$..3%&6*%2B"*+<%).*$7*%12"&$1&%,*%$"#%&627*%)'1&4+*7%B'..%5*%+*,2A*#9

!"#$%&'()*#%+$,-./,'$%0%12#$3#)%4(52,67#)%8$2#.67#3%9:;<=
4#)(5.7.$>"#)(5.7.$%".3.%?#)6,%:;@%A:B>:C><::CD
! !"#"$%&'#"()%'*'#+
! ,-./0'1'(%2/3/#+%4*'#(5'%0/6/%"("%0-.2/3/#%78%3-()'(%98%:%;<=>*'.-%4("?'$"%@&-(
  ;</.A-+
! ,-('?0'1'(%6'>'%&-()'(>'.%B,-$'(C%D-$'(C%D.">"6%3'(%;-2'.'1%4$'#%E/'$'#%FGH<<6
  I("J%&'3'%'*'#%0/6/+

4#)(5.7.$>"#)(5.7.$%".3.%?#)6,%:;<=%A<<>:C><::CD
! ,-('?0'1'(%0-0-.'&'%)'?0'.%3'(%$-0')"'(%0-$'.%IA<(G"A<(%&-(>"()%3'#'?%H#-(3-.
  /(>/6%>"'&%0'0+
! H-0-.'&'%-3">"()%3'(%6<.-6$"+


E.F/.)%G#$*.$.%4#)5.,H.$%8$/(H%G,2,6%&#2.$I(/$J.%AK'%3'%L,6/D%0
! K'?0'.G)'?0'.%5'()%1"#'()%'6'(%3"0/'>%/#'()%3'(%3"#-()6'&"%>-.?'$/6%"A<(G"A<(%3'(
  0/>><(%&'3'%H#-(3-.%B&."<.">'$%/>'?'J
! ,-#->'6'(%)'?0'.%3'(%0'0G0'0%&'3'%>"'&%1'#'?'(%5'()%?'$"1%6/.'()%$-?&/.('%'6'(
  3"$-?&/.('6'(%&'3'%L-.$"GL-.$"%?-(3'>'()
! H<<6?'.6%#-()6'&%3-()'(%>1/?0('"#%>"'&%0'0%$-1"())'%0"#'%="#-%"("%3"0/6'%3-()'(
  '3<0-%.-'3-.%'6'(%>-.$-3"'%0<<6?'.6G0<<6?'.6%>"'&%0'0%/>'?'%0-.0-(>/6%>1/?0('"#+
! M"#-G="#-%#'>"1'(%5'()%3"$-.>'6'(N3"-?0-3%6-%3'#'?%0/6/%"("+%O6/.'(%="#-%-G0<<6%"("
  '6'(%?-?0-()6'6C%2'3"%6-?/()6"('(%'6'(%6-#/'.%P%L-.$"%3-()'(%3'(%>'(&'%="#-G="#-
  #'>"1'(+
! K'?0'.%$'?&/#%5'()%#-0"1%?-('."6%3'(%#-0"1%."()6'$%B3-()'(%/6/.'(%="#-%5'()%#-0"1
  6-A"#J+%K'?0'.%$''>%"("%?'$"1%>-.6-$'(%3"0/'>%$-A'.'%>-.0/./G0/./%3'(%$-'3'(5'+
  ,-('?&"#'(%5'()%0'"6%>-(>/(5'%?-("?0/#6'(%6-$'(%5'()%0'"6%&/#'%:J+%
! 8'=>'.%"$"%B&."<.">'$%>-.'61".%6'.-('%"$"%0/6/%"("%'6'(%>-./$%0-./0'1J
="7+)A'B"7+)A'B3151-'*+)'!"9+3+2'(7+$'C%+7+$'./D00-'?)1
              D4#4."3$%,*,$"0%&*+#*"0$+%(4+$"0%"3$,54"0/%&$)'%'"'%,*,$"0%5$5%)$6*
12,52%7)*1'$./%,*,5$6$7%(+'&'(/%)*7$"/%$.$7$"%#$"%,2&'A$7'%7$3$%#$.$,%,*"3474"%54(4
'"'9%?$5%'"'%$#$.$6%5$5%)*,54($$"%#$"%5$7$85$7'%3$"0%,*,527$"($"/%($+*"$%'&4%-'($
!"#$%&'#$(%&*+&$+'(%,*,5$1$"3$%52.*6%,*.$"-4&($"%(*%5$5%5*+'(4&"3$%E<9

             F$3$%,*+$7$%74"0046%&'#$(%"3$,$"%,*,4.$'%5$5%)*,54($%'"'%#*"0$"
(+'&'(/%"$,4"%7$3$%$($"%5*+&*+47%&*+$"0%#$"%&2%&6*%)2'"&%#'7'"'9%F$&4%)*"3*5$5%4&$,$
7$3$%&*+#2+2"0%,*"4.'7%54(4%'"'%$#$.$6%($+*"$%(*(*7$.$"%7$3$%(*&'($%,*,5*.'%7*54$6
54(4%&4&2+'$.%.2($.%&*"&$"0%7*54$6%72;&B$+*%$"',$7'%:7$3$%&'#$(%$($"%,*"3*54&($"%-4#4./
72;&B$+*%3$"0%#'5$6$7%$&$4%)*"0$+$"0"3$%#'7'"'<9%

               G*+&$,$8&$,$/%7$,)4.%54(4%&*+7*54&%,*"$,)'.($"%($+3$%2+$"0%.$'"%#$"
&'#$(%,*"1$"&4,($"%$7$.%7*+&$%)*,'.'("3$9%H$+3$%&*+7*54&%-40$%($+3$%3$"0%#'54$&%)$#$
72;&B$+*%.$'"/%54($"%72;&B$+*%3$"0%#'5$6$7%)$#$%54(4%&*+7*54&9%F*.$'"%'&4%72;&B$+*
$"',$7'%3$"0%#'5$6$7%54(4%&*+7*54&%#'($&$($"%5'7$%5*+-$.$"%)$#$%IF%&*+&*"&4%3$"0
-*.$78-*.$7%&'#$(%#'#4(4"0"3$9

             J$&*+'%#$"%0$,5$+80$,5$+%#$.$,%54(4%&*+7*54&%K,*,'"-$,K%#$+'%74,5*+
.$'"%#$"%)*"4.'7"3$%6$"3$%,*.$(4($"%)*"*+-*,$6$"%#$+'%74,5*+%&*+7*54&9%!7$."3$
,*,$"0%#'1$"&4,($"/%&*&$)'%-'($%7*)*+&'%'&4%3$"0%#'7*54&%K54(4%5*+(4$.'&$7K%,$($%7$3$
$#$.$6%7*2+$"0%K)*"4.'7%3$"0%7$"0$&%5*+(4$.'&$7K%7*5$5%7*,*"-$(%7$3$%#4#4(%#'%5$"0(4
FJG%74#$6%)4.46$"%($.'%7$3$%,*"#$)$&%&40$7%,*,54$&%&*+-*,$6$"%)4'7'/%1*+)*"
$&$4)4"%$+&'(*.%#$+'%04+4%5$6$7$%@"00+'7%7$3$9

            L$"0%.*5'6%7$3$%(*7$.($"%.$0'/%&*+"3$&$%)*"4.'7%54(4%&*+7*54&%$#$.$6%2+$"0
3$"0%5*+)*"#'#'($"/%,*,'.'('%7*54$6%0*.$+%3$"0%14(4)%&'"00'9%F4"0046%7$3$%7$"0$&8
7$"0$&%(*1*B$%,*"#$)$&'%6$.%&*+7*54&9%D*.$7%7*($.'%5$6B$%)*"4.'7%54(4%&*+7*54&%54($"
2+$"0%3$"0%5*"$+85*"$+%&*+&$+'(%$&$4%,*"#*#'($7'($"%#'+'"3$%(*)$#$%#4"'$%$"',$7'%MN
#$"%6$"3$%&*+0'4+%)$#$%+23$.&'%3$"0%,*"0$.'+%&'$)%54.$"%#$+'%54(4%&*+7*54&9%H+'&'(%7$3$
,*,$"0%&$-$,%#'7'"'%#$"%5*5*+$)$%#$+'%!"#$%,4"0('"%&'#$(%,*"34($'"3$/%&*&$)'%7$3$
.*5'6%,*,'.'6%5*+&*+47%&*+$"0%#$"%7$3$%-40$%5*+6$+$)%2+$"0%.$'"%5*+&*+47%&*+$"0%(*)$#$
7$3$%7*6'"00$%('&$%7*,4$%5'7$%5*.$-$+%#$+'%(*7$.$6$"%,$7'"08,$7'"09

             O$.4%7*1$+$%(*5*&4.$"%(*&'($%7$3$%74+;'"0%#'%'"&*+"*&%7$3$%,*"*,4($"
7*54$6%72;&B$+*%(*1'.%"$,4"%14(4)%)2B*+;4.%3$"0%5*+"$,$%?.*"#*+9%F*.$,$%5*5*+$)$
7$$&%7$3$%5*+,$'"8,$'"%#*"0$"%?.*"#*+%7$3$%14(4)%&*+)*72"$%#*"0$"%(*(4$&$""3$/
B$.$4)4"%,$7'6%-$46%#'5$B$6%72;&B$+*872;&B$+*%(2,*+7'$.%#'%)$7$+$"9

             H*,4#'$"%74$&4%6$+'%7*2+$"0%(*"$.$"%7$3$%3$"0%'"0'"%,*,5$"04"%7*54$6
)*+47$6$$"%$"',$7'%(2,*+7'$.%#'54$&%)47'"0%,*"06$#$)'%,$7$.$6%.'1*"7*%72;&B$+*%3$"0
7$"0$&%,$6$.%7$3$%,*+*(2,*"#$7'($"%?.*"#*+%7*5$0$'%)*+,4.$$"/%($+*"$%7$3$%.'6$&
7*)*+&'"3$%)+23*(%3$"0%#'(*+-$($"%#$)$&%#'5'.$"0%7*#*+6$"$/%&'#$(%,*,*+.4($"%;$7'.'&$7
1$"00'6%#$"%7$3$%3$('"%?.*"#*+%#$)$&%,*"$"0$"'"3$9%P$"00$)$"%3$"0%#'5*+'($""3$
14(4)%7'"'7/%#$"%(*.'6$&$""3$%'$%7$"0$&%&*+7'"004"0%#*"0$"%$"-4+$"%7$3$9
J$($%)$#$%$(6'+"3$%7$3$%)4"%&*+#2+2"0%4"&4(%,*"125$%,*"4.'7%7*54$6
54(4%3$"0%5'7$%,*"3$'"0'%(4$.'&$7%'7'%54(4854(4%3$"0%$#$%#'%)$7$+$"%#$"%,*"04$(
(*(4$&$"%5.*"#*+%(*)$#$%(2,4"'&$7%$"',$7'%#'%'"#2"*7'$%$0$+%&'#$(%,*+*,*6($"
72;&B$+*872;&B$+*%7*)*+&'%'"'9

             O$.4%,*"0$)$%54(4%'"'%7$3$%*#$+($"%7*1$+$%0+$&'7Q%P*,$"%7$3$%7*"#'+'
(*&'($%7$3$%1*+'&$($"%,*"0*"$'%54(4%'"'%$0$(%&*+(*-4&%#$"%,*"0$&$($"%7$3$%52#26
,*"0*#$+($"%54(4%'"'%7*1$+$%0+$&'79

            F*-4-4+"3$/%,*,$"0%)$#$%$B$."3$%7$3$%,*,$"0%5*+*"1$"$%4"&4(
,*"0'+',%54(4%'"'%(*%)*"*+5'&9%R4(4)%74.'&%#$"%,*"06$5'7($"%5$"3$(%B$(&4%:7$3$%,4.$'
,*"4.'7%54(4%'"'%)$#$%$(6'+%S2A*,5*+%TUUM<%4"&4(%,*"3474"%54(4%'"'%&*+.*5'6%.$0'
4"&4(%,*,5*#$6%?.*"#*+%.*5'6%#$.$,/%-$#'%(*"$)$%7$3$%7*52#26%'"'%,*,4&47($"%4"&4(
,*.*)$7%)+23*(%3$"0%&*.$6%,*"06$5'7($"%B$(&4%7$3$%5*+54.$"854.$"%5*0'&4%7$-$Q
V*.*68B*.*6/%)$7&'%$#$%4#$"0%#'%#$.*,%5$(B$"%E</%,4"0('"%'&4%3$"0%)*+&$,$%($.'
,4"14.%#'%5*"$(%!"#$9

            !.$7$"%)*+&$,$%$#$.$6%;'.*%)+23*(%54(4%'"'%6'.$"0%($+*"$%)$+&'7'%6$+##'7(
3$"0%+47$(%($+*"$%(*1*+2526$"%7$3$%7*"#'+'%#$.$,%,*"04&$(%$&'(%)$+&'7'%#$.$,
6$+##'7(%7$3$9%F$3$%&*.$6%,*.$(4($"%5$1(4)%"$,4"%5$1(4)%7$3$%.$(4($"%4"&4(%&'$)
5*5*+$)$%B$(&4%7*($.'%#$"%#$&$%3$"0%&*.$6%7$3$%5$1(4)%#*"0$"%3$"0%6'.$"0%14(4)%-$46
)*+5*#$$""3$9%

              F$3$%5*"$+85*"$+%7$"0$&%(*7$.%#*"0$"%(*-$#'$"%'"'9%D'($%7$3$%,*"04.$"0
7*.4+46%)*(*+-$$"%3$"0%6'.$"0%&*+7*54&%$($"%,*,$($"%B$(&4%3$"0%14(4)%.$,$%#$"
?.*"#*+%7*,$('"%.$,$%$($"%7*,$('"%#'(*&$64'%2+$"0%7*6'"00$%54(4%'"'%$($"%(*6'.$"0$"
2+'7'"$.'&$7%#$"%)*,5$6$7$"%54(4%'"'%&*.$6%K(*&'"00$.$"%-$,$"K%-'($%#'&*+5'&($"%7*1$+$
(2,*+7'$.9%?$0$',$"$)4"%7*&'#$("3$%7$3$%,*"#$)$&%)*.$-$+$"%5*+6$+0$%#$+'%7'"'9

            F*.$'"%'&4%7$3$%-40$%&*.$6%5*+5'1$+$%(*)$#$%5*5*+$)$%)*+B$('.$"%)*"*+5'&/
,*"1$+'81$+'%'";2+,$7'%)*+73$+$&$"%)*"3*+$6$"%"$7($6%#$"%7*5$0'$"%5*7$+%#$+'%,*+*($
6$"3$%,*"0'"0'"($"%54(4%#*"0$"%,$&*+'%)$.'"0%5$+49%F*#$"0($"%7$3$%&*&$)%5*+7'(4(46
,*.$(4($"%)*,5$6$7$"%&*+6$#$)%?.*"#*+%G45.'76*+%:T9TW<%B$.$4)4"%)$#$%7$$&
)*"4.'7$"%54(4%'"'%74#$6%5*+*#$+%A*+7'%:T9MX<%($+*"$%7$3$%-40$%'"0'"%,*,5$6$7%;$7'.'&$7
0$,*%*"0'"*%3$"0%6$"3$%&*+7*#'$%)$#$%A*+7'%G45.'76*+9

             ?*.$($"0$"%7$3$%,*"0*-$+%,*"3*.*7$'($"%54(4%'"'%&*+.*5'6%.$0'%(*&'($%7$3$
,*,5$1$%7*54$6%,$-$.$6%(2,)4&*+%5*+*"1$"$%,*"0*.4$+($"%&4&2+'$.%,2A'*%&*"&$"0
?.*"#*+%#$"%7$3$%&'#$(%,$4%(*#4.4$"%2.*6%,$-$.$6%&*+7*54&9%N*"0$"%6'.$"0"3$%#$&$8
#$&$%)$#$%6$+##'7(%7$3$/%7$3$%&'#$(%,4"0('"%,*"0*-$+%(*&'"00$.$"%7$3$%#$"
5*.$($"0$"%7$3$%7*,$('"%5$"3$(%,*.'6$&%?.*"#*+%&*.$6%#'5$6$7%#'%5*+5$0$'%,$-$.$6
#$"%&$5.2'#%(2,)4&*+9

            J$($%#$+')$#$%54(4%'"'%&*+7',)$"%#$.$,%RN%5$1(4)%7$3$%&$")$%,*,5*+'
,$";$$&%$)$8$)$%(*)$#$%7'$)$)4"%#$"%)$#$%$(6'+"3$%6$"3$%&*+&4&4)%2.*6%#*54/%7$3$
,*,4&47($"%4"&4(%,*.*)$7"3$%(*%)45.'(%7*1$+$%0+$&'7%#*"0$"%6$+$)$"%5'7$%,*,5$"&4
,*+*($%3$"0%'"0'"%,*,)*.$-$+'%$"',$7'%$&$4%,*"1$+'%$.&*+"$&';%72;&B$+*%.*0$.%4"&4(
)+23*(8)+23*(%$"',$7'%,*+*($9
!.$7$"%&*+$(6'+%$#$.$6%54(4%'"'%,*+4)$($"%54(4%3$"0%)$.'"0%)*+&$,$%3$"0
)*+"$6%7$3$%&4.'79%F$3$%,*,$"0%5$"3$(%,*"4.'7%$+&'(*.%#$.$,%B$(&4%7*"00$"0%7$3$
"$,4"%5*.4,%)*+"$6%,*"4.'7%7*54$6%54(4%3$"0%4&469%J$($%#$+'%'&4%54(4%'"'%-*.$7%-$46
#$+'%7*,)4+"$%#$"%(*,$,)4$"%,*"4.'7%7$3$%,$7'6%5*.4,%5$"3$(%&*+$7$6%,$($%#$+'%'&4
7$3$%,$7'6%)*+.4%5*.$-$+%5$"3$(%#$+'%)*"0$.$,$"%#$"%,*,*+.4($"%5$"3$(%,$74($"
7*6'"00$%#'%B$(&4%3$"0%,*"#$&$"0%54(4854(4%3$"0%$($"%7$3$%&4.'7%74"0046874"0046
,*,'.'('%(4$.'&$7%(2,*+7'$.9%N*"0$"%7*,4$%$.$7$"%&*+7*54&%7$3$%&'#$(%(*5*+$&$"%,*+'.'7
54(4%'"'%7*1$+$%14,$814,$%#$"%7$"0$&%5*+6$+$)%&'#$(%$#$%)'6$(%3$"0
,*"3$.$604"$($"%*8522(%'"'9

             !(6'+%($&$/%%6$+$)$"%7$3$%&'#$(%5$"3$(/%7*,20$%*8522(%'"'%5*"$+85*"$+
,*,5*+'%,$";$$&%4"&4(%!"#$%)$+$%)*,5$1$9%H*"#$&'%54(4%'"'%7$3$%.*)$7%(*%)45.'(
7*1$+$%0+$&'7%"$,4"%-'($%,*"#$)$&%&$"00$)$"%3$"0%5$'(%#$+'%!"#$%7*,4$%7$3$%$($"
&*+47%5*+47$6$%,*"3*,)4+"$($""3$9%!"#$%#$)$&%,*"02"&$(%7$3$%,*.$.4'%*8,$'.
#+*$,12+*YZ[&*.(2,9"*&9%H2,*"&$+/%(+'&'(/%7$+$"/%(4&4($"/%1$1'$"/%4,)$&$"%,$4)4"
-$,)'8-$,)'%E<%#$+'%!"#$%$($"%7$"0$&%,*,5$"&4%7$3$%,*,)*+5$'('%#$"
,*"3*,)4+"$($"%54(4%'"'9%


                                                  D$($+&$/%%!)+'.%TUU]


                                                  ^'#*.'7%D27$)6$&%F2*($6$+
1.5%@
                                 +$,-.6,%3,%M$3'$#6,.

             8/("'%'("?'$"%78%3"%I(3<(-$"'%$-3'()%0-.6-?0'()C%('?/(%$<=>*'.-G
$<=>*'.-%'("?'$"%6<?-.$"'#%5'()%'3'%3"%&'$'.'(%0"'$'(5'%$'()'>%?'1'#%3'(%>"3'6
>-.2'()6'/%<#-1%$-0')"'(%0-$'.%?'$5'.'6'>+%Q'#%"("%'3'#'1%$'#'1%$'>/%='6><.%>-.$-(3'>(5'
&-.6-?0'()'(%'("?'$"%3"%I(3<(-$"'C%&'3'1'#%?'$"1%0'(5'6%0'6'>G0'6'>%5'()%0-#/?
>-.&<#-$%('?/(%%0-.&<>-($"%/(>/6%?'2/%3'#'?%0"3'()%'("?'$"+%H/6>"%(5'>'%3"%#'&'()'(
?-?&-.#"1'>6'(%0'1*'%6">'%?'?&/%?-()1'$"#6'(%'("?'$"%5'()%0-.6/'#">'$%3'(%>"3'6
6'#'1%3-()'(%'("?'$"%3'."%#/'.%(-)-."+%

             ;-0')'"%A<(><1C%4(3'%3'&'>%?-?&-.1'>"6'(%"6#'(G"6#'(%'("?'$"%5'()
3">'5'()6'(%&'3'%$-#/./1%$>'$"/(%RS%#<6'#C%0"$'%3"&'$>"6'(%0'1*'%$-0')"'(%0-$'.%3'."
4(3'%&'.'%&-?0'A'%0/6/%"("%?-()".'%"6#'(G"6#'(%>-.$-0/>%'3'#'1%'("?'$"%"?&<.>%'>'/
0/'>'(%#/'.%(-)-."+%T5'>'(5'U%;-0')"'(%0-$'.%"6#'(G"6#'(%>-.$-0/>%'3'#'1%1'$"#%6'.5'%'('6
0'()$'%$-(3"."+%;-#'"(%">/%'&'6'1%4(3'%&-.('1%?-#"1'>%="#?%'("?'$"%0-.3/.'$"%&'(2'()
6'.5'%'('6%0'()$'U%,-(/#"$%5'6"(%2'.'()%'>'/%0'16'(%>"3'6%&-.('1%$'?'%$-6'#"+%T'?/(
0-#'6'()'(%0-0-.'&'%'('6%0'()$'%>-#'1%?/#'"%?-?0/'>%)-0.'6'(%3-()'(%>-.A"&>'(5'
="#?G="#?%'("?'$"%0-.3/.'$"%&'(2'()%$-&-.>"%VW</3%E-%W</3X%3'(%VY'(/$%,.'2/.">
R-.'61".X+%,-.2/'()'(%?-.-6'%0-('.G0-('.%&'>/>%3"'A/()"%2-?&<#%*'#'/&/(%?'$"1%0-#/?
3'&'>%?-(5'"()"%="#?G="#?%Q<##5*<<3+

             R"3'6%3'&'>%3"&/()6"."%0'1*'%='6><.%&-()1'.)''(%?'$5'.'6'>%>-.1'3'&
6'.5'%'("?'$"%3"%I(3<(-$"'%2/)'%?-(2'3"%$'#'1%$'>/%='6><.%/>'?'%#'"((5'+%W')"&/#'%?'$"1
>-.#'#/%0'(5'6%'("?'><.%I(3<(-$"'%5'()%>-.2/(%6-%3/("'%'("?'$"%3-()'(%>/2/'(%6<?-.$"#C
2'.'()%5'()%?-#'6/6'((5'%3-?"%6-$-('()'(%'>'/%6-A"(>''((5'%>-.1'3'&%3/("'%'("?'$"C
?'6'%'("?'$"%>-.$-0/>%1'(5'%?-?"#"6"%6/'#">'$%5'()%0-.3'$'.6'(%&-.?"(>''(%6#"-(+%

              D-6/.'()'(%5'()%$'()'>G$'()'>%/>'?'%3'."%#-$/(5'%&-.="#?'(%I(3<(-$"'
1'(5'%$'>/C%>"3'6%#'"(%3'(%>"3'6%0/6'(%'3'#'1%6<($-&+%D<($-&%3'(%6-$-."/$'(%3'#'?
?-.'?/%6<($-&%>-.$-0/>+%H'(3"()6'(%$"(->.<(%#<6'#%5'()%1'(5'%?-?'6'(%*'6>/
$-?"())/%/(>/6%&-(5-#-$'"'((5'%3-()'(%="#?G="#?%1<##5*<<3%5'()%?-?'6'(%*'6>/
0-.>'1/(G>'1/(%1'(5'%/(>/6%?-.'?/%6<($-&G6<($-&(5'+%

               W-$/(5'%&-.6-?0'()'(%="#?%>-./>'?'%'("?'$"%3"%I(3<(-$"'%$-?'6"(
3"&-.&'.'1%<#-1%='6><.%6-0'(5'6'(%6#"-(%3"%I(3<(-$"'%6/.'()%?-()1'.)'"%1'$"#%6'.5'
'("?'$"%'>'/%6-?'?&/'(%$-<.'()%'("?'><.%5'()%0-.$'()6/>'(+%D'.5'%'("?'$"%3"1'.)'"
$'()'>G$'()'>%?/.'1C%$-1"())'%>"3'6%?-(/>/&"%0"'5'%5'()%3"6-#/'.6'(C%>-.#-0"1%/(>/6
'("?'$"%5'()%0-.0-(>/6%A-.">'+%E'6'%>"3'6#'1%?-()1-.'(6'(%2"6'%'3'%0-0-.'&'%6'.5'
'("?'$"%#<6'#%5'()%0-.6/'#">'$%'3'%5'()%3">'5'()6'(%3"%$>'$"/(%RS%#/'.%(-)-."%('?/(
3"$"("%Z$$$>+++$$$>+++%(5'."$%>'6%>-.3-()'.ZC%$-&-.>"%5'()%3"6'>'6'(%3'#'?%$-0/'1%"6#'(
?<0"#+
;->-#'1%?-()->'1/"%1'#G1'#%>-.$-0/>C%5'()%?-(2'3"%&-.>'(5''(%/>'?'%0')"
4(3'%&'.'%&-?0'A'%0/6/%"("C%'&'6'1%4(3'%'6'(%?-?0"'.6'(%/()6'&'(%VO'()%'3'#'1
$-)'#'(5'X%?-.'A/("%3"."%4(3'U%E-?'()%$-?/'%<.'()%0/>/1%/'()%/(>/6%1"3/&%('?/(
2'()'(%$'?&'"%/'()%?-?&-()'./1"%&'(3'()'(%4(3'%>-.1'3'&%$-("%0'"6%">/%$-("%5'()
0-.3'$'.6'(%>-6(<#<)"%A'())"1%3'(%?-()1'?0'>%4(3'%3'#'?%?-?'2/6'(%3/("'%4("?'$"
I(3<(-$"'+

                                     1.5%@;<%
                               N#$O.".%!"#$%&'()*#P

              H')"%4(3'%5'()%$-6-3'.%1<0"C%"()"(%0-#'2'.%'("?'$"C%'>'/%0-('.G0-('.%"()"(
>-.2/(%6-3'#'?(5'%$-0-('.(5'C%'>'/%?/()6"(%&.'6>"$"%5'()%?-(A'."%$<=>*'.-%'#>-.('>"=
$-0-('.(5'%A/6/&%0'(5'6%$<=>*'.-%'("?'$"%<&-(%$</.A-%5'()%).'>"$%0-.>-0'.'(%3"%"(>-.(->
B$-&-.>"%F[/"(<C%E<<(#")1>C%DG78C%3$0JC%0'16'(%?/()6"(%>-.#'#/%0'(5'6%$-1"())'%4(3'
0"()/()%?-?"#"1(5'%$-1"())'%$-1'./$(5'%6-(3'#'%0"'5'%6'.-('%?'1'#(5'%$<=>*'.-
'("?'$"%3-()'(%#"$-($"%5'()%#-)'#%>"3'6%?-(2'3"%?'$'#'1%#')"%0')"%4(3'+%T'?/(%&-.#/
3"A'>'>%2/)'%0'1*'%&-())/(''(%$<=>*'.-%<&-(%$</.A-%6'.-('%).'>"$(5'%$'2'%">/%'3'#'1
6/.'()%>-&'>+%R-.#-0"1%#')"%&'(3'()'(%0'1*'%$<=>*'.-%<&-(%$</.A-%6'.-('%0"$'%3"&-.<#-1
).'>"$%?'6'%$<=>*'.-%>-.$-0/>%'3'#'1%$'?&'1%'>'/%$<=>*'.-%&"A"$'(%'3'#'1%$'()'>G$'()'>
$'#'1%3'(%>"3'6%>-&'>+%

             ;<=>*'.-G$<=>*'.-%<&-(%$</.A-%6'.-('%3"6-?0'()6'(%$-A'.'%0-0'$%<#-1
6<?/(">'$C%?'6'%&-.6-?0'()'((5'%0"$'%2'3"%#-0"1%&-$'>%3'(%6-?'?&/'((5'%$->'.'%'>'/
>-.6'3'()%#-0"1%0'"6%3"0'(3"()6'(%$<=>*'.-G$<=>*'.-%6<?-.$"'#%5'()%$-2-("$%3-()'((5'C
3'(%2/)'%#-0"1%?-#-6'>%&'3'%1'>"%&-())/('%6'.-('%3"6-?0'()6'(%<#-1%&'.'%&-())/('(5'
2/)'+%8-()'(%$"='>%$-&-.>"%">/%$<=>*'.-%<&-(%$</.A-%2/)'%0"'$'(5'%?-?"#"6"%/$"'%5'()
#-0"1%&'(2'()%3"0'(3"()6'(%$<=>*'.-G$<=>*'.-%6<?-.$"'#+%

             H-0-.'&'%$<=>*'.-%<&-(%$</.A-%2/)'%$-0-('.(5'%0-.'*'#%3'."%$<=>*'.-
6<?-.$"'#+%D->"6'%&-()-?0'()%'$#"(5'%?-()1-(>"6'(%&.<5-6%$-0/'1%$<=>*'.-%6'.-('
0-0-.'&'%1'#%B>-./>'?'%?'$'#'1%3'('J%0'(5'6%='($%$->"'%5'()%>"3'6%.-#'%$<=>*'.-
6-$'5'()'((5'%1"#'()%3">-#'(%*'6>/%3'(%6-?/3"'(%?-?/>/$6'(%/(>/6%?-(-./$6'(
&-()-?0'()'((5'+%8-()'(%&-(3"$>."0/$"'(%$</.A-%A<3-%$-A'.'%>-.0/6'C%$"'&'&/(%0"$'
?-#'6/6'((5'+%@#-1%6'.-('%">/%2'()'(%1-.'(%0"#'%$/'>/%$''>%('(>"%$<=>*'.-G$<=>*'.-
3-()'(%#"$-($"%"("%'6'(%?-(/(2/66'(%>'."()(5'%3"'(>'.'%$<=>*'.-G$<=>*'.-%6<?-.$"'#
5'()%$-2-("$%3-()'((5'+%D'.-('%">/%&/#'%2'()'(#'1%?-()'())'&%$<=>*'.-%<&-(%$</.A-
$-0')'"%$<=>*'.-%5'()%$-?0'.'()'(+%

             H"$'%6">'%#"1'>%0')'"?'('%&-$'>(5'%&-.6-?0'()'(%$<=>*'.-%<&-(%$</.A-
?-#'#/"%W"(/+%,-.6-?0'()'(%W"(/%$'()'>%&-$'>C%3'(%3-()'(%6-0-.'3''(%0-.0')'"%3"$>.<
&"#"1'(%&/(%$-?'6"(%#/'$%3'(%3'&'>%3"$-$/'"6'(%3-()'(%6-0/>/1'(+%H'16'(%0'(5'6%5'()
?-?0-."6'(%A#'"?%0'1*'%W"(/%2'/1%#-0"1%1'(3'#%3"0'(3"()6'(%<&-.'>"()%$5$>-?%5'()
/?/?%3")/('6'(%B]"(3<*$J%*'#'/%1'.)'(5'%0-.#"&'>%6'#"%#-0"1%?/.'1%'#"'$%).'>"$+
H'16'(%0-#'6'()'(%H"##%K'>-$%$-(3"."%?-(-?&'>6'(%W"(/%$-0')'"%$'#'1%$'>/%'(A'?'(
/>'?'%>-.1'3'&%E"A.<$<=>+%8'(%5'()%?-()-2/>6'(%'3'#'1%&-.('1%0-.-3'.%0-.">'%0'1*'
E"A.<$<=>%?-())/('6'(%W"(/%/(>/6%$'#'1%$'>/%$-.L-.(5'+%Q'#%5'()%$'?'%>-(>/(5'
0-.#'6/%2/)'%3-()'(%$<=>*'.-%'("?'$"%<&-(%$</.A-+
H-0-.'&'%>'1/(%0-#'6'()'(%&-(/#"$%>-#'1%?-(A'."GA'."%'#>-.('>"=%$<=>*'.-
5'()%?/.'1%3'(%1'(3'#%$-&-.>"%W"(/%/(>/6%@&-.'>"()%;5$>-?%3'(%$<=>*'.-G$<=>*'.-
5'()%0-.#"$-($"%<&-(%$</.A-%$-0')'"%&-())'(>"%$<=>*'.-%6<?-.$"'#%&'3'%]"(3<*$%$-&-.>"
KIE,%/(>/6%?-())'(>"6'(%43<0-%,1<><$1<&%%3'(%@&-(@=="A-%/(>/6%?-())'(>"6'(
E"A.<$<=>%@=="A-+%H'16'(%6"("%$-*'6>/%?-(5/$/(%0/6/%"("%&-(/#"$%?-())/('6'(
@&-(@=="A-+%

             T5'>'(5'%@&-(@=="A-%].">-.%A/6/&%&<*-.=/#%/(>/6%?-())'(>"6'(
E"A.<$<=>%]<.3%/(>/6%?-()'6<?<3'$"%&-6-.2''(%*<.3%&.<A-$$"()%5'()%3"#'6/6'(
&-(/#"$+%FA-#U%4&'%>/1U%;'5'%$"1%&'6-%@&-(%@=="A-%^'#A+%H'())'%0/6'(%2"6'%4(3'%0"$'
0-.6'>'%$-&-.>"%">/C%0-.'("%0-3'%3'."%6-0'(5'6'(%<.'()%:J+%;-#'"(%">/%@&-(@=="A-%>"3'6
?-?"#"6"%>->-6G0-()-6%5'()%A'())"1GA'()"1%3'(%.'6/$%.-$</.A-%,^%('?/(%$'?'%$-6'#"
>"3'6%&-.('1%3"&'6'"%$-1"())'%6->"6'%0-6-.2'%3-()'(%@&-(@=="A-%0"$'%#-0"1%?'6$"?'#+
43'%&-.'$''(%0'())'%&'3'%3"."%&-(/#"$%3-()'(%?-())/('6'(%$<=>*'.-G$<=>*'.-%#-)'#
>-.$-0/>%3'(%$->"3'6(5'%3<$'%0-.6/.'()%$-3"6">%3'."%$-6"'(%3<$'%5'()%>'6%>-.1">/()
2/?#'1(5'%5'()%3"#'6/6'(%<#-1%&-(/#"$%:J+

             E-?'()%1'./$%3"'6/"%0'1*'%$-0')"'(%0-$'.%$<=>*'.-%<&-(%$</.A-%6/.'()
/$-.%=."-(3#5%3'(%?"("?%=-'>/.-%3"0'(3"()6'(%$<=>*'.-G$<=>*'.-%6<?-.$"'#%3-()'(%('?'
0-$'.%3"0-#'6'()(5'+%Q'#%>-.$-0/>%>-.2'3"%&'3'%$<=>*'.-%@&-.'>"()%;5$>-?C%3"?'('%6->"6'
&'.'%&-())/('%]"(3<*$%3'#'?%?-#'6/6'(%"($>'#'$"%"0'.'>%?-?'$'6%?"-%"($>'(C%A/6/&
?-()6#"6%0-0-.'&'%%><?0<#%@DC%#'#/%>"())'#%?-(/())/%1"())'%&.<$-$%"($>'#'$"%3'(
3->-6$"%1'.3*'.-%$-#-$'"+%

             ;-3'()6'(%&'.'%&-())/('%W"(/%?-()'#'?"%$'6">%6-&'#'%$-*'6>/
?-#'6/6'(%&.<0-%1'.3*'.-C%"($>'#'$"%$<=>*'.-G$<=>*'.-C%?-(A'."GA'."%3."L-.%3'(
$-0')'"(5'%*'#'/%6"("%$/3'1%>-.$-3"'%0-0-.'&'%3"$>.<%W"(/%5'()%#-0"1%/$-.%=."-(3#5+
R->'&"%$'>/%1'#%5'()%&'$>"%:%2"6'%&-(/#"$%0"$'%?-())/('6'(%$<=>*'.-G$<=>*'.-%@&-(
;</.A-%3-()'(%0-#'2'.%$-A'.'%<><3"3'6C%?'$'%$"1%4(3'%>"3'6%0"$'%:J

              ;-#'"(%">/%2/)'%#-0"1%?/3'1%?-?&-#'2'."%3'(%?-()'>'$"%?'$'#'1G?'$'#'1
&'3'%$<=>*'.-%6<?-.$"'#%6'.-('%3"#-()6'&"%3-()'(%?'(/'#%5'()%#-()6'&%3'(%3/6/()'(
>-A1("A'#%$/&&<.>%5'()%&.<=-$"<('#+%8-()'(%$<=>*'.-%<&-(%$</.A-C%4(3'%3"3<.<()%/(>/6
0-.)-.'6+%Y"6'%'3'%?'$'#'1C%4(3'%1'./$%?-(A'."%$<#/$"(5'%3"%3'#'?%6<?/(">'$+%F(>'1
'&'6'1%4(3'%1'./$%?-(A'."%>/><."'#C%0-.)'0/()%3-()'(%=<./?G=<./?%'>'/%?"#"$%3"
"(>-.(->+%R->'&"%5'()%2-#'$C%2'*'0'(%5'()%3"3'&'>%2'/1%#-0"1%?-?/'$6'(C%6'.-('%?-.-6'
0-('.G0-('.%>-.3<.<()%/(>/6%$'#"()%?-?0'(>/+%

              ^<0'%#"1'>%$'2'C%'&'%5'()%4(3'%3'&'>%3'."%0'0%>.</0#-$1<<>"()%&'3'%?'(/'#
$<=>*'.-%6<?-.$"'#C%$-&-.>"%ZA<0'%/&3'>-%3."L-.%4(3'+%4&'6'1%">/%?-()'>'$"%?'$'#'1
4(3'U%Y"6'%>"3'6%0/6'%1'#'?'(%0-."6/>(5'+X%#'#/%"($>./6$"%&'3'%1'#'?'(%0-."6/>(5'
V^<0'%"($>'##%/#'()%$<=>*'.-%>-.$-0/>+%4&'6'1%">/%?-()'>'$"%?'$'#'1%4(3'U%Y"6'%>"3'6
0/6'%1'#'?'(%0-."6/>(5'ZC%0-)">/%3'(%$->-./$(5'C%&'3'1'#%4(3'%$/3'1%?-#'6/6'((5'
0-.6'#"G6'#"%3'(%?-?0-."6'(%6-$'(%0'1*'%4(3'%<.'()%5'()%0<3<1%3'(%>"3'6%>'1/
?-())/('6'(%6<?&/>-.+
1.5%@;Q%
                               8$/(H%6,.".%5(H(%,$,P%

             R-.#-0"1%3'1/#/%&-(/#"$%"()"(%?-(-6'(6'(C%?/()6"(%3-()'(%'3'(5'%6.">"6G
6.">"6%5'()%0-.6-$'(%>'2'?%&'3'%0'0%&-?0/6'%"("%?-("?0/#6'(%6-$'(%>-.>-(>/%&'3'
&-(/#"$+%R"3'6C%&-(/#"$%0/6'(#'1%$-<.'()%='('>"6%W"(/%'>'/%'(>"%]"(3<*$+%,-(/#"$
6')/?%'6'(%6-?'2/'(%W"(/%3'(%$<=>*'.-%<&-(%$</.A-%>->'&"%>->'&%?-()1'.)'"
6-?/3'1'(%]"(3<*$%3-()'(%$-)'#'%='$"#">'$%5'()%3"0-."6'((5'+%Q'(5'%$'2'%&-(/#"$%"()"(
?-(-6'(6'(%0'1*'%4(3'%>"3'6%1'./$%?-?'6$'6'(%?-())/('6'(%&.<3/6%6<?-.$"'#
6'.-('%'3'%'#>-.('>"=%5'()%$'?'%&<*-.=/#(5'%3'(%2'/1%#-0"1%?/.'1+

              Q'.'&'(%&-(/#"$%3-()'(%6-0-.'3''(%0/6/%"("%'3'#'1%&-(/#"$%"()"(%$-6-3'.
?-?0')"%&-()'#'?'(%3'(%&-()->'1/'(%&-(/#"$%')'.%3'&'>%0-.?'(=''>%0')"%&'.'%&-?0'A'
3'(%?-?0'(>/%&-.6-?0'()'(%3/("'%'("?'$"%3"%I(3<(-$"'C%$-.>'%?-(/(2/66'(%0'1*'
$<=>'*'.-%<&-(%$</.A-%0/6'(#'1%$<=>*'.-%$-?0'.'()'(%3'(%&<>-($"G&<>-($"%5'()%'3'%3"
3'#'?(5'%A/6/&%0-$'.+%;'$'.'(%0/6/%"("%'3'#'1%0')"%4(3'%5'()%0-#/?%0-.&-()'#'?'(
3'#'?%3/("'%'("?'$"%78%?'/&/(%0')"%5'()%$/3'1%0-.&-()'#'?'(%3'(%"()"(%?-(A'."
'#>-.('>"=%$<=>*'.-%'("?'$"+

            ,'3'%0/6/%"("%&-(/#"$%0->/#G0->/#%0-./$'1'%?-(5/$/((5'%')'.%3'&'>
3"&'1'?"%<#-1%$-#/./1%6'#'()'(%&-())/('%,^C%0'"6%5'()%$/3'1%0-.&-()'#'?'(%3-()'(
$<=>*'.-%78%?'/&/(%0')"%5'()%0-#/?%$'?'%$-6'#"+%T'?/(%0/6/%"("%0/6'(#'1%0/6/
&'(3/'(%#-()6'&%5'()%?-?0'1'$%=/()$"%>"'&G>"'&%><?0<#%5'()%>-.#"1'>%&'3'%#'5'.%'>'/
6-$-#/./1'(%A'.'%/(>/6%?-(A'&'"%1'$"#%5'()%3""()"(6'(+%4(3'%2/)'%3">/(>/>%/(>/6
?-#'6/6'(%$-0')"'(%-6$&#<.'$"%3'(%#'>"1'(G#'>"1'(%$-(3"."+%

            ,-.#/%3"$'?&'"6'(%2/)'%')'.%4(3'%>"3'6%$>.-$$%3'#'?%?-?0'A'%0/6/%5'()
0-('.G0-('.%?-?0<$'(6'(%"("%:JC%&-(/#"$%?-(5"$"&6'(%0-0-.'&'%0'1'$'%$'(>'"%3"'(>'.'
6'#"?'>G6'#"?'>%=<.?'#%&'3'%0/6/%"("+%;-0-#/?(5'%&-(/#"$%?<1<(%?''=%0"#'%'3'
6-6/.'()'(%3'(%6'>'G6'>'%5'()%?-(5"())/()%3'#'?%0/6/%"("+%461".%6'>'%&-(/#"$
?-()/A'&6'(%$-#'?'>%?-("6?'>"%3'(%$-#'?'>%0-.6'.5'_


                                      1.5%<
                                4#$O#$.2.$%12#$3#)

B_J8"%3'#'?%0/6/%"("%4(3'%'6'(%0'(5'6%?-(-?/6'(%0'(5'6%6'>'%5'()%3">-0'#6'(+%D'>'G
6'>'%>-.$-0/>%'3'#'1%6'>'G6'>'%5'()%&-.#/%3"&-.1'>"6'(+%;-#'"(%">/%4(3'%2/)'%'6'(
?-(-?/6'(%&'.').'=G&'.').'=%6-A"#%5'()%3")'."$%0'*'1"%3'(%3"'*'#"%3-()'(%B_JC%$-&-.>"
&'.').'=%5'()%$-3'()%4(3'%0'A'%"("+%,'.').'=G&'.').'=%6-A"#%>-.$-0/>%'3'#'1%"(=<.?'$"
5'()%$'()'>%&-(>"()%3'(%&-.#/%4(3'%6->'1/"%$-0-#/?%4(3'%?-#'()6'1%6-%$/0%0'0%'>'/
0'0%0-."6/>(5'+

%% H'0%P+`%3"61/$/$6'(%0')"%4(3'%5'()%0-#/?%&-.('1%?-())/('6'(%$<=>*'.-%78
B_J%%
$-0-#/?(5'%'>'/%?'$"1%0-#/?%?-()-('#%6<($-&G6<($-&%3'#'?%$<=>*'.-%78+%H')"%4(3'
5'()%?-.'$'%$/3'1%0-.&-()'#'?'(%?-())/('6'(%$<=>*'.-%78%3'&'>%#'()$/()
?-#'(2/>6'(%6-%0'0%P+P+
<;@4#$O#$.2.$%+$,-.6,%QE

             ;-0-#/?%#'()$/()%0-#'2'.%?-())/('6'(%H#-(3-.C%0')"%4(3'%5'()%0-#/?
&-.('1%?-())/('6'(%$<=>*'.-%78C%'3'%0'"6(5'%6">'%?-()/#'$%6<($-&G6<($-&%'("?'$"%78
>-.#-0"1%3'1/#/%3"$"("+%

             ,-.>'?'G>'?'%&-(/#"$%"()"(%?-(-6'(6'(%0'1*'%0-#'2'.%78%">/%/,3.H%6(2,/+
,-(/#"$%>-6'(6'(%6'>'%>"3'6%$/#">%('?/(%0/6'(%0-.'.>"%1'#%>-.$-0/>%0-.'.>"%0-#'2'.%78%">/
$-?/3'1%?-?0'#"66'(%>-#'&'6%>'()'(+%

             Q'#%5'()%$'?'%2/)'%3">/2/6'(%0')"%4(3'%5'()%?-.'$'%>"3'6%0"$'
?-())'?0'.C%2'()'(#'1%0-.6-A"#%1'>"+%4("?'$"%78%>"3'6%?-(/(>/>%4(3'%?-?"#"6"
6-?'?&/'(%?-())'?0'.%$-&-.>"%$-<.'()%?'-$>.<+%R"3'6C%'("?'$"%78%1'(5'
?-?0/>/16'(%6->-6/('(%3'(%6-$'0'.'(+%4("?'$"%78%#-0"1%?-(/(>/>%4(3'%0-.&"6".
$-A'.'%#<)"$%3'(%#'>"1'(%$-A'.'%6<(>"(/+

<;@;@+".%,/(%QEP


             78%'3'#'1%3"?-($"%5'()%?-?"#"6"%./'()+%Y"6'%6">'%?-./2/6%6-&'3'%V<02-6
78XC%'.>"(5'%<02-6%>-.$-0/>%?-?"#"6"%./'()%'>'/%L<#/?-+%@02-6%78%2/)'%?-?"#"6"%#<6'$"
&'3'%6<<.3"('>%aC%b%3'(%c+%Y"6'%&'3'%0"3'()%P%3"?-($"%4(3'%1'(5'%3'&'>%?-())-.'66'(
<02-6%>-.$-0/>%6-%$'?&"()%6'('(%3'(%6"."%BaJC%'>'$%3'(%0'*'1%BbJC%3'#'?%./'()%78%$-#'"(
3'&'>%3")-.'66'(%6-%$'?&"()%6'('(%3'(%6"."%<02-6%2/)'%3'&'>%3")-.'66'(%6-%3-&'(%3'(%6-
0-#'6'()%BcJ+




                                        TN%#$"%MN
8"%3'#'?%3/("'%6<?&/>-.%).'="$%3"6-('#%P%?'A'?%=<.?'>%).'="6%P3%5'()
/>'?'C%5'">/%L-A><.%3'(%0">?'&+%,-.0-3''(%'(>'.'%L-A><.%3'(%0">?'&%'3'#'1%2"6'%&'3'
0">?'&%)'?0'.%3"1'$"#6'(%3-()'(%?-())/('6'(%6/?&/#'(%>">"6G>">"6%B&"-#$J%5'()%$'#"()
0-.3-?&->%1"())'%?-?-(/1"%$-0/'1%0"3'()%3-()'(%*'.('G*'.('%5'()%0-.0-3'%&'3'
&<$"$"%>-.>-(>/%$-1"())'%?-('?&"#6'(%$-0/'1%A">.'%B$-&-.>"%)'?0'.%0-.=<.?'>%2&-)%'>'/
)"=%5'()%$-."()%4(3'%>-?/"J+%

            ;-3'()6'(%&'3'%)'?0'.%3-()'(%=<.?'>%L-6><.%"(=<.?'$"%)'?0'.%#-0"1
3">-(>/6'(%&'3'%0-0-.'&'%)'."$%3'(%>">"6%&-(>"()%$'2'+%E'6'%3'."%">/%&'3'%$<=>*'.-%$-&-.>"
^<.-#%8.'*%&-*'.(''(%$-0/'1%<02-6%1'(5'%3'&'>%3"#'6/6'(%&'3'%6/.L'%>-.>/>/&%$'2'+

              ,-.0-3''(%5'()%$'()'>%?-(<(2<#%3"'(>'.'%6-3/'(5'%'3'#'1%)'?0'.%L-A><.
>"3'6%.-$<#/>"<(%3-&-(3-(>+%4.>"(5'%0-.'&'%6'#"&/(%)'?0'.%L-A><.%3"&-.0-$'.%A">.'%5'()
3"1'$"#6'(%>"3'6%0-./0'1%3'(%>->'&%1'#/$+%;-3'()6'(%&'3'%)'?0'.%0">?'&C%2"6'%4(3'
?-?&-.0-$'.(5'%P%6'#"%$'2'%4(3'%3'&'>%?-#"1'>%)'?0'.%>-.$-0/>%?-(2'3"%0-.6-$'(
0-.6<>'6G6<>'6%3'(%6'$'.%B&"-#'>-3J+%

             H-0-.'&'%A<(><1%$<=>*'.-%).'="$%5'()%?-())/('6'(%=<.?'>%0">?'&
3"'(>'.'(5'%E"A.<$<=>%,'"(>C%43<0-%,1<><$1<&C%%^<.-#%,1<><%,'"(>%3'(%E'A.<?-3"'
M".-*<.6$%%$-3'()6'(%A<(><1%$<=>*'.-%5'()%?-())/('6'(%).'="$%L-A><.%'3'#'1%^<.-#
8.'*C%E'A.<?-3"'%M.--1'(3%3'(%43<0-%I##/$>.'><.+%D<($-&%5'()%3")/('6'(%&'3'
$<=>*'.-%78%$-3"6">%?"."&%3-()'(%6<($-&%)'?0'.%L-6><.C%%<02-6%3'#'?%$<=>*'.-%78%>"3'6
.-$<#/>"<(%3-&-(3-(>C%%1'(5'%$'2'%<02-6%5'()%3"0-(>/6%3'#'?%$<=>*'.-%78%>-(>/(5'
?-?"#"6"%./'()+

              8'#'?%$<=>*'.-%78%/?/?(5'%>"'&G>"'&%<02-6%?-?"#"6"%$/0G<02-6N-#-?-(G
-#-?-(%5'()%?-?0-(>/6%3"."(5'+%F#-?-(G-#-?-(%>-.$-0/>%'3'#'1%9#)/#RC%#3O#C%F.*#+
S-.>-%'3'#'1%$-0/'1%>">"6%5'()%>-.#->'6%&'3'%6<<.3"('>%aC%b%3'(%c%>-.>-(>/+%P%L-.>-%2"6'
3"1/0/()6'(%'6'(%?-?0-(>/6%$-0/'1%-3)-+%S-.>-%3'#'?%0-(>/6%2'?'6%B0-.2/?#'1%#-0"1
3'."%`J%0"'$'%3"$-0/>%3-()'(%9#)/,*#6+%I$>"#'1%"("%#-0"1%0-.6'">'(%3-()'(%%&-?0-3''(%6'>'
0-(>/6%2'?'6%3'(%>/())'#%3'#'?%0'1'$'%I())."$C%3"?'('%&'3'%6'>'G6'>'%3"%#/'.%6'>'G6'>'
>-.>-(>/%5'()%61/$/$%0"'$'(5'%1'(5'%&-.#/%3">'?0'16'(%1/./=%G$%'>'/%G-$%3"0-#'6'()(5'
/(>/6%?-(/(2/66'(%0-(>/6%2'?'6%B='A-$C%-3)-$C%?-$1-$C%3$>J+

              H"3'()%&-.?/6''(%5'()%>-.0-(>/6%3'."%6/.L'%>-.>/>/&%5'()%>-.0-(>/6%3'."%7
L-.>-%3'(%-3)-%B?-?"#"6"%7%$"$"J%'>'/%#-0"1%3"$-0/>%='A-+%H-(>/6%='A-%5'()%&'#"()%3'$'.
'3'#'1%='A-%5'()%0-.0-(>/6%$-)">")'%3-()'(%7%-3)-%3'(%L-.>-%5'()%?-()'&">(5'+%M'A-
&'3'%<02-6%78%2/)'%0"'$'%3"$-0/>%"'2JO'$;%T'?/(%Z='A-Z%#-0"1%0'(5'6%3")/('6'(%/(>/6
?-./2/6%&'3'%0"3'()%$-)">")'%&'3'%<02-6%78%3'(%Z&<#5)<(Z%/(>/6%0"3'()%3-()'(%#-0"1
3'."%7%$"$"+%D/?&/#'(%L-.>-C%-3)-%3'(%='A-%5'()%?-?0-(>/6%$-0/'1%<02-6%5'()%/>/1
$-."()%3"$-0/>%-#67;%
_*+&*X/%=#0*%#$"%^$1*

               ;-&-.>"%&'3'%3/("'%(5'>'C%>"'&%<02-6%>-.0/'>%3'."%0'1'(%>-.>-(>/%B?->'#C%6'5/C
6'"(C%3$0J%3'(%>"'&G>"'&%0'1'(%>-.$-0/>%?-?"#"6"%0-.0')'"%$"='>%>-.$-(3"."%'&'6'1%0-.*'.('
?-.'1C%0-.*'.('%1">'?C%0-.>->/.%6'$'.%'>'/%1'#/$C%?-()6"#'&%'>'/%>"3'6+%,'3'%$<=>*'.-
78%/(>/6%?-($"?/#'$"6'(%$"='>%0'1'(%$-0/'1%<02-6%3")/('6'(%-./#),.2%B$-$/'"%3-()'(
'.>"%6'>'%>-.$-0/>%5'">/%0'1'(J+




             5*5*+$)$%12"&26%,$&*+'$.%%#$+'%,$&*+'$.%.'5+$+3%MN%F&4#'2%J$X%:N'71+**&<%

             D-?/3"'(%2"6'%4(3'%?-#"1'>%6-?'$'(%?'6'('(%3-()'(%>/#"$'(%'>'/%)'?0'.
&'3'%0')"'(%3-&'((5'%&'3'%$<=>*'.-%78%1'#%"("%0"'$'(5'%3"#'6/6'(%3-()'(%/#R/()#%-."+
R->/.-%?'&%'3'#'1%)'?0'.%B0"'$'(5'%0-.=<.?'>%0">?'&J%5'()%Z3">-?&-#6'(Z%&'3'%<02-6
78%5'()%0-.$'()6/>'(+%8"$"("#'1%4(3'%3">/(>/>%?-?"#"6"%6-?'?&/'(%?-())'?0'.+
T'?/(%3'#'?%&-()-.2''(%'("?'$"%78%0"'$'(5'%3"#'6/6'(%3'#'?%$-0/'1%>-'?+%43'%5'()
?-('()'("%?<3-#"()C%'("?'$"%3'(%>->/.-%?'&+%,.<$-$%&-()-.2''(%>->/.-%?'&%0"'$'
3"$-0/>%3-()'(%&.<$-$%/#R/(),$O;%^<(><1%>-.0'"6%&-())/(''(%>->/.-%?'&%3'&'>%4(3'
#"1'>%&'3'%)'?-G)'?-%78+%E"$'#(5'%6'.'6>-.%3'#'?%)'?-%d/'6-C%6<(>/.%<><>%3'(%*'2'1
3">'?&"#6'(%3-()'(%)'?0'.%P8%5'()%3">-?&-#6'(%&'3'%?<3-#%78+

             ;-#'(2/>(5'%/(>/6%'("?'$"C%>-6("6%'("?'$"%&'3'%$<=>*'.-%78%0-.0-3'
3-()'(%'("?'$"%>.'3"$"<('#%5'()%?-())/('6'(%>-6("6%?'(/'#+%,'3'%'("?'$"%>.'3"$"<('#
>"'&%)-.'6'(%1'./$%3")'?0'.%&-.%=.'?-C%3"?'('%&'3'%>"'&%=.'?-%<02-6%5'()%3")'?0'.
#->'6%'>'/%0-(>/6(5'%0-./0'1%$-3"6">%3-?"%$-3"6">%$-1"())'%2"6'%3"&-.#"1'>6'(%$-A'.'
0-.)'(>"'(%3-()'(%A-&'>%3'(%0-././>'(%'6'(%?-?0-."6'(%6-$'(%$-<#'1G<#'1%<02-6%">/
0-.)-.'6+%O(>/6%$'>/%3->"6%'("?'$"N)-.'6'(%3-()'(%?-())/('6'(%>-6("6%'("?'$"
>.'3"$"<('#%0"'$'(5'%?-?-.#/6'(%$'?&'"%&/#/1'(%)'?0'.+%




                                 H2"7*)%$"',$7'%&+$#'7'2"$.

             ,'3'%$<=>*'.-%78%/(>/6%?-?0/'>%$-0/'1%)-.'6'(%/?/?(5'%1'(5'
?-?-.#/6'(%0-0-.'&'%=.'?-%6/(A"%'>'/%H#JF).-#+%8-()'(%6-5=.'?-C%4(3'%1'(5'%&-.#/
?-(-(>/6'(%&<$"$"%<02-6%5'()%&-(>"()%&'3'%*'6>/G*'6>/%5'()%3">-(>/6'(%$-3'()6'(
2'.'6%=.'?-G=.'?-%5'()%6<$<()%3"'(>'.'%>"'&%6-5=.'?-%3"1">/()%$-A'.'%<><?'>"$%<#-1
6<?&/>-.+%R-6("6%6-5=.'?-%$-0-('.(5'%0/6'(%?<(<&<#"%$<=>*'.-%78%$'2'C%0-0-.'&'
$<=>*'.-%P8%$-&-.>"%E'A.<?-3"'%M#'$1%'>'/%43<0-%4=>-.%F==-A>%2/)'%?-?&-.)/('6'(
>-6("6%"("+




                                  H2"7*)%$"',$7'%(*3;+$,*

             ;-0')'"%)'?0'.'(%/(>/6%?-?0/'>%'("?'$"%$-0/'1%0<#'%0-.)-.'6%3'."
6"#<?->-.%`%6-%6"#<?->-.%P%C%?'6'%&'3'%'("?'$"%?'(/'#%1'./$%3")'?0'.6'(%0<#'%&'3'
&<$"$"%6"#<?->-.%`C%6"#<?->-.%`%`N7C%6"#<?->-.%`%PN7C%3'(%$->-./$(5'%1"())'%$'?&'"%&'3'
&<$"$"%6"#<?->-.%P+%8-()'(%6<($-&%6-5=.'?-C%4(3'%1'(5'%&-.#/%?-?0-."%3/'%>">"6%6/(A"
$-*'6>/%0<#'%0-.'3'%&'3'%&<$"$"%6"#<?->-.%`%3'(%6"#<?->-.%PC%$-3'()6'(%&<$"$"G&<$"$"
0<#'%3"'(>'.'%6-3/'%#<6'$"%>-.$-0/>%3">'()'("%<#-1%6<?&/>-.+

             D-?/3"'(%3'#'?%$<=>*'.-%78%6">'%2/)'%?-()-('#%$-0/'1%>">"6%&'3'%<02-6
5'()%3"('?'6'(%",9'/%"',$/+%%,"L<>%&<"(>%'3'#'1%$-0/'1%='$"#">'$%5'()%/?/?%3"$-3"'6'(
3'(%3")/('6'(%&'3'%$<=>*'.-G$<=>*'.-%'("?'$"%78+%,"L<>%&<"(>%0"$'%3"6'>'6'(%>">"6%&/$'>
3'."%$-0/'1%<02-6C%*'#'/&/(%&'3'%6-(5'>''(5'%&"L<>%&<"(>%>"3'6%1'./$%$-#'#/%$/())/1G
$/())/1%0-.'3'%&'3'%>-()'1G>-()'1%$/'>/%<02-6+%,"L<>%&<"(>%2/)'%?-(5"?&'(%"(=<.?'$"
6<<.3"('>%#<6'#%$-0/'1%<02-6+%;-?/'%<&-.'$"%5'()%3"#'6/6'(%&'3'%<02-6%78%0"'$'(5'
3"#'6/6'(%0-.3'$'.6'(%&"L<>%&<"(>+

              E"$'#(5'%$''>%?-#'6/6'(%.<>'$"%<02-6C%&"L<>%&<"(>%0-.#'6/%$-0')'"%$/?0/
.<>'$"%<02-6%>-.$-0/>+%^<(><1%#'"((5'%'3'#'1%<02-6%5'()%3"$A'#-%'6'(%?-()-A"#%3'(
?-(5-?&">%6-%&"L<>%&<"(>%'>'/%?-?0-$'.%3'(%?-(2'/1%3'."%&"L<>%&<"(>C%<02-6%5'()%3"
?"..<.%'6'(%0-.&"(3'1%$'>/%$"$"%3"%$-0-#'1%&"L<>%&<"(>%6-%$"$"%#'"((5'%5'()%$-0'(3"()%3"
$-0-#'1%&"L<>%&<"(>C%3'(%$->-./$(5'+%;-0')'"%)'?0'.'(C%>'()'(%4(3'%3'&'>%4(3'%&/>'.G
&/>'.%3-()'(%&-.)-#'()'(%>'()'(%4(3'%$-0')'"%$/?0/(5'+%,-.)-#'()'(%>'()'(%4(3'
0-.#'6/%$-0')'"%&"L<>%&<"(>%3'."%>'()'(%4(3'+

             H-.0-3'%3-()'(%6-0'(5'6'(%$<=>*'.-%).'="$%P8%B$-&-.>"%E"A.<$<=>%,'"(>%3'(
43<0-%,1<><$1<&JC%'&'%5'()%>-.#"1'>%&'3'%#'5'.%$''>%4(3'%?-())/('6'(%$<=>*'.-%78
0"'$'(5'%0/6'(%A-.?"('(%3'."%1'$"#%'61".+%4&'%5'()%>-.#"1'>%&'3'%#'5'.%3'&'>%3"6'>'6'(
1'(5'%$-0/'1%&.-L"-*%$-3-.1'('%3'(%6/'#">'$(5'%$'()'>%2'/1%$-6'#"%3"0'(3"()6'(%3-()'(
1'$"#%'61".(5'+%O(>/6%?-(3'&'>6'(%1'$"#%'61".C%1'./$%3"#'6/6'(%0-.0')'"%&-.1">/()'(
>-.#-0"1%3'1/#/%<#-1%6<?&/>-.+%,.<$-$%"("%3"('?'6'(%&.<$-$%)#$3#),$O+%

             Q'$"#%3'."%&.<$-$%.-(3-."()%>-.$-0/>%0-.0-(>/6%P8%3'(%3'&'>%3"$"?&'(%6-
="#-G="#-%)'?0'.%B0?&C%2&)C%)"=C%3$0J%'>'/%="#-G="#-%?<L"-%B'L"C%?<LC%?&)C%3$0J+%M"#?G="#?
1'$"#%.-(3-."()%"("%0"'$'%3"$-0/>%")#)#$3#)#3%-'9,#C%6'.-('%/(>/6%3'&'>%3">'?&"#6'(
$-0')'"?'('%?-$>"(5'%="#?%>-.$-0/>%1'./$%3".-(3-.%>-.#-0"1%3'1/#/%$-0-#/?(5'+%W'"(
1'#(5'%3-()'(%$<=>*'.-G$<=>*'.-%78%"(>-.'6>"=%61/$/$(5'%)'?-G)'?-%78C%&.<$-$
.-(3-."()%#'()$/()%3"#'6/6'(%3'(%3">'?&"#6'(%3"%#'5'.%$-A'.'%0-.$'?''(+%,.<$-$
.-(3-."()%$-&-.>"%"("%3"6'>'6'(%)#.2%/,-#%)#$3#),$O+%




                 `*$.%&',*%+*"#*+'"0%)$#$%0$,*%S**#%;2+%F)**#%M%:=.*1&+2"'1%!+&7<

            ,.<$-$%.-'#%>"?-%.-(3-."()%>"3'6%?-()/0'1%<02-6%78%?-(2'3"%A">.'%P8C
('?/(%?'("&/#'$"%3'&'>%3"#'6/6'(%#'()$/()%&'3'%<02-6%&'3'%*'6>/%0-.$'?''(%3-()'(
>'?&"#(5'%1'$"#%'61".%3"%#'5'.+%

              !-'#%>"?-%.-(3-."()%/?/?(5'%3")/('6'(%&'3'%)'?-G)'?-%3'(%$<=>*'.-
"(>-.'6>"=%78+%E'6'%3'."%">/%/(>/6%3'&'>%?-?'"(6'(%)'?-%61/$/$(5'%5'()%0-.-3'.
0-#'6'()'(%"("%$-#'"(%^,O%/>'?'%6">'%2/)'%?-?-.#/6'(%).'&1"A%A'.3%3-()'(%&.<$-$<.%78
>-.$-(3"."%/(>/6%?-?&.<$-$%'>'/%?-X.-(3-.X%>'?&"#'((5'+%D'.-('%">/%2/)'%)'?-G)'?-
78%1'./$%3"$-$/'"6'(%3-()'(%6-?'?&/'(%&.<$-$<.%3'(%).'&1"A%A'.3%3-()'(%A'.'GA'.'
>-.(>-(>/%$-&-.>"%?-())/('6'(%2/?#'1%&<#5)<(%5'()%>-.0'>'$%&'3'%?<3-#G?<3-#%5'()
3")/('6'(%B#<*%&<#5J%'>'/%.-$<#/$"%>->/.-%?'&%&'3'%?<3-#%5'()%>-.0'>'$%&/#'+%

             4.-'%6-.2'%&'3'%$<=>*'.-G$<=>*'.-%78%0"'$'(5'%?-())/('6'(%.-'#%>"?-
.-(3-."()%$-&-.>"%&'3'%)'?-G)'?-%78C%>->'&"%/(>/6%-="$"-($"%6-.2'%$-&-.>"%5'()%>-#'1
3"$-0/>6'(%$-0-#/?(5'C%$-0')"'(%0-$'.%-#-?-(%3'."%1'$"#%'61".%3"$-?0/(5"6'(%')'.%>"3'6
?-?&-.0-.'>%6"(-.2'%&.<$-$<.%1"())'%'&'%5'()%>'?&'6%3"%#'5'.%2'/1%3'."%1'$"#%'61".
$->-#'1%?-#'#/%&.<$-$%.-(3-."()+

             43'%0-0-.'&'%$<=>*'.-%'("?'$"%78%5'()%3'&'>%?-?0-."6'(%>'?&"#'(%'.-'
6-.2'%%3-()'(%>'?&"#'(%$'()'>%?-(3-6'>"%A">.'%&'3'%)'?0'.%$->-#'1%&.<$-$%.-(3-."()
'61".+%T'?/(%>-(>/(5'%&.<$-$<.%3'(%).'&1"A%A'.3%5'()%3"?"#"6"%%1'./$%0-('.G0-('.
?'?&/%?-('()'("(5'+

<;@;<S#6,-"(2.$$J.P

             Q'#G1'#%5'()%3"0'1'$%&'3'%$/0%0'0%$-0-#/?(5'%$/3'1%?-(A'6/&
6-$-#/./1'(%6<($-&G6<($-&%3'(%&.<$-$%&-()-.2''(%'("?'$"%&'3'%$<=>*'.-%78%$-A'.'%)'."$
0-$'.+%,'3'%/?/?(5'%&-()-.2''(%'("?'$"%78%3"'*'#"%3-()'(%&.<$-$%?<3-#"()+
D-?/3"'(%')'.%?<3-#G?<3-#%5'()%>-#'1%3"0/'>%>-.#"1'>%#-0"1%1"3/&%?-.-6'%3"0-."
?'>-."'#%3'(%>->/.-%?'&+%;->-#'1%&-?0-."'(%?'>-."'#%3'(%>->/."()%$-#-$'"C%?'6'%?<3-#G
?<3-#%>-.$-0/>%$"'&%3"'("?'$"6'(+%Y"6'%'3-)'(%5'()%3"0/'>%$/3'1%$-$/'"%3-()'(
6-"()"('(C%?'6'%3"0/'>%1'$"#%'61".(5'%'>'/%3"X.-(3-.X%?-(2'3"%$-0/'1%="#?+

            ,.<$-$G&.<$-$%>-.$-0/>%0/6'(#'1%6-$-#/./1'(%&.<$-$%&-?0/'>'(%="#?%/>/1+
8'#'?%&-?0/'>'(%="#?%&.<=-$"<('#%?-.-6'%2/)'%?-#'6/6'(%0-.0')'"%&.<$-$G&.<$-$%3"
#/'.%&-())/(''(%$<=>*'.-%78%$-&-.>"%A<(A-&>%0/"#3"()C%3-$")(C%$><.50<'.3"()C%-3">"()C
3'(%$-0')'"(5'+%H-0-.'&'%="#?%1<##5*<<3%0'16'(%?-?'6'(%*'6>/%>'1/('(%3'#'?
&-?0/'>'((5'+%

             ;<=>*'.-%78%0'(5'6%3")/('6'(%/(>/6%0-.0')'"%"(3/$>."C%('?/(%$-0')"'(
0-$'.%&-())/(''((5'%?-?'()%3"3<?"('$"%<#-1%"(3/$>."%1"0/.'(C%$-&-.>"%0.<'3A'$>"()C
)'?-C%="#?C%3$0+%4("?'$"%78%&'3'%"(3/$>."%#'"((5'%#-0"1%0'(5'6%3")/('6'(%/(>/6
&.-$-(>'$"+%,-())/(''(%$<=>*'.-%78%$-."()6'#"%3"3'?&"()"%<#-1%$<=>*'.-%#'"((5'+
E"$'#(5'%/(>/6%&-?0/'>'(%="#?%'("?'$"%0-.3/.'$"%&'(2'()C%6-$-#/./1'(%'("?'$"%2'.'()
3"#'6/6'(%3-()'(%$-6'#"%6-.2'%?-())/('6'(%$<=>*'.-%78+%

             ;-&-.>"%3'#'?%&.<$-$%&-?0/'>'(%="#?%3-()'(%#"L-%'A><.C%1'$"#%'("?'$"%5'()
3"<#'1%<#-1%$<=>*'.-%78%0"'$'(5'%3"0/'>%0-.0-(>/6%A#"&GA#"&%5'()%0-."$"%'3-)'(G'3-)'(
$"()6'>+%,'3'%0-0-.'&'%$<=>*'.-%78%&-?0-."'(%-=-6%$/'.'%3'&'>%3"#'6/6'(%#'()$/()%3"
3'#'?%$<=>*'.-%>-.$-0/>C%('?/(%$-."()6'#"%3")/('6'(%$<=>*'.-%-6$>-.('#%/(>/6%?-()-3">
3'(%?-('?0'16'(%-=-6%$/'.'(5'+%;->-#'1%$-#-$'"%3"0-."%-=-6%$/'.'C%A#"&GA#"&%>-.$-0/>
3")'0/()6'(%3'(%3"&-.?'("$%?-())/('6'(%$<=>*'.-%).'="$%61/$/$(5'%$<=>*'.-%/(>/6
-3">"()%?<L"-%$-1"())'%?-(2'3"%$-0/'1%="#?%5'()%/>/1%$-A'.'%6-$-#/./1'(+
O(>/6%#-0"1%?-()-('#%A'.'GA'.'%&-?0/'>'(%="#?%'3'%0'"6(5'%2"6'%4(3'
?-()'?'>"%V0-1"(3%>1-%$A-(-$X%/(>/6%>"'&G>"'&%="#?%5'()%4(3'%)-?'."%0'"6%">/%="#?
'("?'$"%?'/&/(%="#?%#"L-%'A><.+%8'."%$">/%4(3'%0"$'%?-?&-#'2'."%0'(5'6%1'#%2"6'%4(3'
>-.>'."6%/(>/6%>-.2/(%3"%0"3'()%'("?'$"+

             ;-0->/#(5'%?'$"1%0'(5'6%1'#G1'#%3'(%"$>"#'1G"$>"#'1%5'()%'3'%3'#'?%3/("'
'("?'$"%78+%T'?/(%"$>"#'1G"$>"#'1%3'(%1'#G1'#%5'()%>-#'1%6">'%0'1'$%&'3'%0'0%"("%'3'#'1
1'#G1'#%5'()%&'#"()%3'$'.%3'(%$'()'>%&-(>"()%4(3'%6->'1/"%$-0-#/?%4(3'%?'$/6%6-
3'#'?%3/("'%78+%

           ;-0')'"%&-(/>/&%$/0G0'0%"("%&-(/#"$%"()"(%?-()/A'&6'(%:%T#2*'-#%/'
-.O,*.2%U')23%'F%QE%-VW%0D

<;<+".%,/(%12#$3#)P

              8"%3'#'?%0/6/%"("%6">'%'6'(%>-.=<6/$%?-?0'1'$%H#-(3-.+%H/6'(C%H#-(3-.
5'()%3"?'6$/3%3"$"("%0/6'(#'1%'#'>%-#-6>.<("6%5'()%%3")/('6'(%/(>/6%?-?0/'>%2/$%3'(
6">'%>"3'6%'6'(%?-?0'1'$%A'.'GA'.'%?-?0/'>%2/$%3"$"("%:J+%H#-(3-.%5'()%3"?'6$/3%3"$"("
'3'#'1%$-0/'1%$<=>*'.-%'("?'$"%78%<&-(%$</.A-+%

             H-."6/>%"("%'3'#'1%."()6'$'(%$-2'.'1%&-.6-?0'()'(%H#-(3-.C%3"6/>"&%3'(
3">-.2-?'16'(%3'."%%?'(/'#%H#-(3-.%:%Z,'3'%>'1/(%`eff%R<(%!<<$-(3''#%?-(3'('"
&-./$'1''(%5'()%0-.)-.'6%3"%0"3'()%'("?'$"%5'()%3"('?'6'(%T-<K-<+%T-<K-<
0-.6-?0'()%3-()'(%&-$'>%$-1"())'%?-(2'3"%&-./$'1''(%'("?'$"%>-.0-$'.%3"%H-#'(3'%3'(
$'#'1%$'>/%&-./$'1''(%'("?'$"%>-.3-&'(%3"%F.<&'+%R<(%!<<$-(3''#%$-#'"(%0-.>'())/()
2'*'0%$-0')'"%4.>%3".-A><.%"'%2/)'%0-.>'())/()%2'*'0%'>'$%&-()-?0'()'(%$<=>*'.-
"(>-.('#+%

              ,'3'%>'1/(%`eeg%?/(A/##'1%$-0/'1%$<=>*'.-%5'()%&'3'%'61".(5'%3"('?'6'(
H#-(3-.+%;->-#'1%3"'?'>"%>-.(5'>'%H#-(3-.%?-?"#"6"%&<>-($"%/(>/6%3")/('6'(%<#-1%'.>"$G
'.>"$%3"#/'.%T-<K-<+%W'#/%&'3'%>'1/(%`eef%R<(%?-(3"."6'(%&-./$'1''(%5'()%0-.('?'
T<>%'%T/?0-.%BT'TJ%/(>/6%?-()-?0'()6'(%3'(%?-?'$'.6'(%H#-(3-.%#-0"1%2'/1+%^">'G
A">'%T'T%'3'#'1%/(>/6%?-(A"&>'6'(%$-0/'1%$<=>*'.-%'("?'$"%78%5'()%&'3'>C%A.<$$
&#'>=<.?%5'()%).'>"$%3'(%3'&'>%3")/('6'(%<#-1%?'$5'.'6'>%6<?&/>-.%5'()%/?/?+

            ;'5'()(5'%'?0"$"%T'T%>"3'6%$-$/'"%3-()'(%6-(5'>''(%&'$'.%$''>%">/+%R'1/(
P99`%T'T%3"0-(>/6%/#'()%?-(2'3"%&-./$'1''(%5'()%#-0"1%6-A"#+%T'T%#'#/%?-#/(A/.6'(
$<=>*'.-%6<?-.$"'#%&-.>'?'(5'C%H#-(3-.%,/0#"$1-.+%;'$'.'(%&'$'.%$<=>*'.-%"("%'3'#'1
/(>/6%*-0%78%"(>-.'6>"=+%4()6'%&-(2/'#'(%5'()%.-(3'1%3'(%"6#"?%-6<(<?"%5'()%>"3'6
?-()/(>/()6'(%$''>%">/%?-()'6"0'>6'(%T'T%3">/>/&+%,-(/>/&'(%"("%>-.?'$/6
&-()1-(>"'(%>-.1'3'&%&-()-?0'()'(%H#-(3-.+%
D'.-('%>"3'6%"()"(%H#-(3-.%1"#'()%3">-#'(%*'6>/%0-)">/%$'2'C%R<(
!<<$-(3''#%?-(3"."6'(%<.)'("$'$"%(<(%&.<=">%5'()%0-.('?'%H#-(3-.%M</(3'>"<(+%R/2/'(
/>'?'%H#-(3-.%M</(3'>"<(%'3'#'1%>-./$%?-?&.<?<$"6'(%3'(%?-()-?0'()6'(%H#-(3-.
$-0')'"%&.<5-6%<&-(%$</.A-+%,'3'%>'1/(%P99P%H#-(3-.%3"."#"$%/#'()%3"0'*'1%$5'.'>G$5'.'>
KTO%K-(-.'#%,/0#"A%W"(A-($-%BK,WJ+%,-()-?0'()'(%H#-(3-.%>-./$%0-.#'(2/>%1"())'%$''>
"("X

             D-(3'>"%$''>%"("%H#-(3-.%0"$'%3"&-.<#-1%$-A'.'%).'>"$%3'(%6-?'?&/'((5'
?'$"1%>-.0'>'$C%('?/(%3"#"1'>%3'."%$-2'.'1%&-.6-?0'()'((5'%&'3'%6/>"&'(%3"'>'$%H#-(3-.
?-?"#"6"%&<>-($"%5'()%?-(2'(2"6'(%/(>/6%3")/('6'(%&'3'%&.<2-6G&.<2-6%5'()%0-.$6'#'
0-$'.%6'.-('%3/#/(5'%?-?'()%3")/('6'(%$-0')'"%$<=>*'.-%'("?'$"%"(>-.('#%<#-1
&-./$'1'(%5'()%?-()-?0'()6'((5'+%

             H#-(3-.%'3'#'1%$-0/'1%$<=>*'.-%78%$/">-%5'()%0<#-1%3"6'>'%$'#'1%$'>/%5'()
>-.#-()6'&%3"%'(>'.'%$<=>*'.-G$<=>*'.-%<&-(%$</.A-+%R<<#G><<#%5'()%3"$-3"'6'(
$-3-.1'('C%('?/(%$/3'1%?-(A'6/&%$-#/./1%6-0/>/1'(%/(>/6%&-?0/'>'(%="#?%'("?'$"+
O(>/6%'("?'$"%A1'.'A>-.%A<(><1(5'C%H#-(3-.%?-(5-3"'6'(%='$"#">'$%0<(-%%*'#'/%>"3'6
$-A'())"1%$<=>*'.-G$<=>*'.-%6-#'$%6<?-.$"'#%$-&-.>"%E'5'%'>'/%73$%E'+%
             ;'>/%6-#-0"1'(%/>'?'%H#-(3-.%'3'#'1%)'?-%-()"(-%5'()%>-."(>-).'$"C%3'(
3-()'(%)'?-%-()"(-%>-.$-0/>%4(3'%3'&'>%?-(A"&>'6'(%$<=>*'.-%"(>-.'6>"=%0'"6%">/%)'?-C
&.-$-(>'$"%'>'/%*-0%"(>-.'6>"=C%>'(&'%?-(/(>/>%4(3'%?-?"#"6"%&-()->'1/'(%>-(>'()
&.<).'??"()%5'()%?-(3'#'?+%H'16'(%/(>/6%)'?-%5'()%$-3-.1'('%'>'/%&.-$-(>'$"%5'()
$-3-.1'('%B$-&-.>"%*'#6>1.</)1%"(>-.'6>"=J%4(3'%0'16'(%>"3'6%&-.#/%?-?-.#/6'(
&-()->'1/'(%&.<).'??"()%$'?'%$-6'#"+%

             O(>/6%&-(A'1'5''(%H#-(3-.%?-(5-3"'6'(%='$"#">'$%.'3"<$">5+%8-()'(
.'3"<$">5C%4(3'%3'&'>%?-(A"&>'6'(%-=-6%&-(A'1'5''(%5'()%.-'#"$>"6C%?-(5-./&'"%3-()'(
3/("'%(5'>'+%]'#'/&/(%"?&#-?-(>'$"(5'%&'3'%H#-(3-.%?'$"1%>-.0"#'()%$-3-.1'('%3'(
?'$"1%2'/1%3'."%$-?&/.('%('?/(%.'3"<$">5%'3'#'1%='$"#">'$%5'()%'0$-(%&'3'%0-0-.'&'
$<=>*'.-%'("?'$"%6<?-.$"#%0'16'(%5'()%0-.('?'%0-$'.+%

             ;-#'"(%">/%H#-(3-.%>-.$-3"'%/(>/6%0-.0')'"%?'A'?%@;%%3"'(>'.'(5'
]"(3<*$C%W"(/C%E'A%@;%aC%M.--H;8C%I."%3'(%;<#'."$+%H#-(3-.%2/)'%>"3'6%?-(/(>/>
6-?'?&/'(%6<?&/>-.%5'()%>"())"+%D-0/>/1'(%$&-$"="6'$"%,^%?"("?'#%/(>/6
?-(2'#'(6'(%H#-(3-.%'3'#'1%&.<$-$<.%hfiGA<?&'>"0#-C%!4E%7PEHC%>'?&"#'(%`i%0">%3'(
).'&1"A%A'.3%5'()%?-?"#"6"%6-?'?&/'(%@&-(KW+%8-()'(%$&-$"="6'$"%>-.$-0/>%4(3'
$/3'1%3'&'>%0-6-.2'%3-()'(%H#-(3-.C%>->'&"%>-(>/(5'%#-0"1%3"$'.'(6'(%/(>/6
?-())/('6'(%,^%3-()'(%6-?'?&/'(%5'()%#-0"1%>"())"%?"$'#(5'%,-(>"/?%7%3-()'(
!4E%`PfEH%')'.%$-#/./1%='$"#">'$%H#-(3-.%3'&'>%0-.2'#'(%3-()'(%?'6$"?'#+%

            ,'3'%6<?&/>-.%#'?'%&-(/#"$%3-()'(%$&-$"="6'$"%&.<$-$<.%,-(>"/?%7%j77C
!4E%PgiEHC%SK4%<(0<'.3%f%EH%H#-(3-.%$/3'1%3'&'>%3"2'#'(6'(%3-()'(%$'()'>%0'"6
>'(&'%?'$'#'1+%W'#/%/(>/6%?</$-%$'()'>%3"'(2/.6'(%0')"%4(3'%/(>/6%?-())/('6'(
?</$-%3-()'(%7%><?0<#+

            H/6/%"("%?-?'()%?-?=<6/$6'(%3"."%/(>/6%?-?0'1'$%H#-(3-.%$-A'.'
61/$/$C%('?/(%&-(/#"$%2/)'%?-?0'1'$%$-A'.'%$"()6'>%0-0-.'&'%$<=>*'.-%<&-(%$</.A-
#'"((5'%$-0')'"%&-(3'?&"()%&-())/(''(%H#-(3-.%5'()%3'&'>%4(3'%)/('6'(%/(>/6
?-(A"&>'6'(%$-0/'1%="#?%'("?'$"%$-A'.'%/>/1+%;<=>*'.-G$<=>*'.-%>-.$-0/>%>"3'6%'6'(
3"0'1'$%A'.'%&-())/(''((5'%3"$"("C%>->'&"%&-(/#"$%1'(5'%?-(/(2/66'(%$<=>*'.-%'&'%5'()
0"$'%4(3'%)/('6'(%/(>/6%&.<$-$%>-.>-(>/%3'(%3"?'('%4(3'%0"$'%?-(3'&'>6'((5'+
,-?0'1'$'(%&-())/(''(%$<=>*'.-%>-.$-0/>%$-A'.'%?-(3->'"#%?/()6"(%'6'(%3"#'6/6'(
<#-1%&-(/#"$%3"%#'"(%6-$-?&'>'(+

<;QM$6/.2.6,%12#$3#)

              H#-(3-.%3'&'>%4(3'%&-.<#-1%3'."%$">/$%/>'?'(5'%3"%***+0#-(3-.73+<.)+
,'3'%$''>%0/6/%"("%3"$/$/(%L-.$"%H#-(3-.%5'()%&'#"()%0'./%'3'#'1%L-.$"%P+7`+%,'3'%L-.$"G
L-.$"%>-.0'./%"("%H#-(3-.%>-#'1%?-?"#"6"%&-./0'1'(G&-./0'1'(%5'()%A/6/&%0'(5'6
3"0'(3"()6'(%L-.$"%P+Pg%BH#-(3-.%,/0#"$1-.J+%8"'(>'.'(5'%&-('?0'1'(%><<#G><<#
?<3-#"()C%$-&-.>"%$#"A-%><<#%3'(%='$"#">'$%/(3<%5'()%#-0"1%0'"6%$-.>'%6->-.'()'(%IA<(G"A<(
5'()%#-0"1%#-()6'&%5'()%>-(>/(5'%$'()'>%?-?0-."6'(%6-?/3'1'(%3"0'(3"()6'(%3-()'(
L-.$"%P+Pg+

             Q'(5'%$'2'%&'3'%L-.$"GL-.$"%3"%'>'$%P+Pg%)'?-%-()"(-%>"3'6%3"$-.>'6'(C
3"6'>'6'(%&'3'%$">/$(5'%0'1*'%?-.-6'%?-()'#'?"%?'$'#'1%&'3'%#"$-($"%)'?-%-()"(-
>-.$-0/>%('?/(%?-.-6'%0-.2'(2"%/(>/6%?-(5-#-$'"6'(%?'$'#'1%"("%$-A-&'>(5'+%Y"6'%4(3'
"()"(%?-())/('6'(%)'?-%-()"(-%>-.$-0/>%?'6'%4(3'%1'./$%?-())/('6'(%L-.$"%P+Pg+
E'6'%3'."%">/%H#-(3-.%5'()%3"0'1'$%&'3'%0/6/%"("%'3'#'1%H#-(3-.%L-.$"%P+Pg%B&/0#"$1-.J
6'.-('%0/6/%"("%2/)'%?-(A'6/&%&-())/(''(%)'?-%-()"(-%&'3'%H#-(3-.+

            ;->-#'1%4(3'%?-()/'$'"%H#-(3-.%3'(%4(3'%?-?/>/$6'(%"()"(
?-())/('6'(%H#-(3-.%/(>/6%?-(A"&>'6'(%A#"&GA#"&%'("?'$"%?<L"-%$-.>'>"3'6%0-.-(A'('
/(>/6%?-())/('6'(%)'?-%-()"(-%H#-(3-.%/(>/6%?-?0/'>%'&#"6'$"%78%"(>-.'6>"=C%?'6'
4(3'%#-0"1%3"$'.'(6'(%/(>/6%?-())/('6'(%H#-(3-.%L-.$"%>-.0'./+

              ,'3'%P%@;%5'()%&'#"()%&<&/#-.C%]"(3<*$%3'(%W"(/%"($>'#'$"%H#-(3-.
>"3'6#'1%$/#">+%O(>/6%]"(3<*$C%4(3'%1'(5'%&-.#/%?-(2'#'(6'(%="#-%+--%3'(%2'#'(6'(
&.<$-$%"($>'#'$"%$-&-.>"%'(3'%?-(2'#'(6'(%&.<$-$%"($>'#'$"%6-0'(5'6'(%$<=>*'.-%]"(3<*$
#'"((5'+%W'#/%2'#'(6'(%="#-%0#-(3-.+--%&'3'%=<#3-.%"($>'#'$"%0#-(3-.%'>'/%2'#'(6'(%?-#'#/"
$>'.>%?-(/+




                            -*"#*.$%'"7&$.$7'%?.*"#*+%)$#$%V'"#2B7
O(>/6%@;%W"(/%>-.$-3"'%P%'#>-.('>"=C%4(3'%3'&'>%?-())/('6'(%L-.$"%$>'>"A
'>'/%L-.$"%$</.A-+%H')"%4(3'%5'()%$/3'1%>-.0"'$'%?-())/('6'(%W"(/%4(3'%3'&'>
?-())/('6'(%L-.$"%$</.A-C%5'()%>-(>/%$'2'%>-.#-0"1%3'1/#/%1'./$%4(3'%A<?&"#-%$-0-#/?
3'&'>%3"2'#'(6'(+%H')"%4(3'%5'()%0'./%?/#'"%?-()-('#%W"(/%3"$'.'(6'(%?-())/('6'(
L-.$"%$>'>"A+

              O(>/6%?-()"($>'##%H#-(3-.%L-.$"%$>'>"AC%3<*(#<'3%="#-%52#$3#)>"(52,67#)>
<;<=>2,$(R>O2,5*<;@;<;/.);OX%3'."%$">/$%***+0#-(3-.73+<.)%#'#/%-6$>.'6%="#-%>-.$-0/>%6-
#<6'$"%&"#"1'(%4(3'+%,'3'%#<6'$"%>-.$-0/>%4(3'%'6'(%?-(-?/6'(%=<#3-.%52#$3#)>
"(52,67#)><;<=>2,$(R>O2,5*<;@;<>,QVY+%4(3'%3'&'>%?-()/0'1%('?'%=<#3-.%>-.$-0/>
$-$/6'%4(3'C%$-?"$'#%?-(2'3"%V0#-(3-.X%$'2'%3'(%?-?"(3'1G?"(3'16'((5'%6-%=<#3-.
?'('%$'2'%5'()%4(3'%"()"(6'(+%E'$/6#'1%6-%=<#3-.%>-.$-0/>%#'#/%2'#'(6'(%="#-%0"('.5
5'()%0-.('?'%52#$3#)"(52,67#)+%

              O(>/6%3'&'>%?-())/('6'(%H#-(3-.%P+Pg%$-&-(/1(5'C%4(3'%1'./$
?-(3<*(#<'3%="#-%H#J;3./%3'."%$">/$%0#-(3-.+<.)+%W->'66'(%="#-%>-.$-0/>%3"%$-?0'.'()
=<#3-.C%2'#'(6'(%H#-(3-.C%#'#/%?'$/6%6-%?-(/%="#-k#<A'>-%#"A-($-%6-5%#'#/%'.'16'(%6-%="#-
6-5+3'>%5'()%>-#'1%4(3'%3<*(#<'3%>-.$-0/>+%8'(%6"("%4(3'%$"'&%0-.'6$"_%:J

B_J%8'."%$/0%0'0%0-."6/>(5'%$'?&'"%6-%0'0%>-.'61".%&-(/#"$%?-())/('6'(%0-0-.'&'
%%
$"()6'>'(%/(>/6%?-./2/6%><?0<#G><?0<#%&'3'%?</$-%')'.%#-0"1%."()6'$C%GN1%%
                                                                      %%   C%5'">/
%%
!")1>%E</$-%H/>><(%'>'/%><?0<#%6'('(%?</$-C%LN1%5'">/%W-=>%E</$-%H/>><(%'>'/
                                               %%    %%
%%
><?0<#%6"."%?</$-%3'(%%%
                       NN1%5'">/%E"33#-%E</$-%H/>><(%'>'/%><?0<#%>-()'1%?</$-+%
                              %%

<;CM$/#)F.*#%12#$3#)

             H#-(3-.%?-?"#"6"%"(>-.='A-%5'()%V')'6%?-(5"?&'()X%3'."%6-0'(5'6'(
$<=>*'.-G$<=>*'.-%'("?'$"%78%#'"((5'+%D-(3'>"%3-?"6"'(%'3'%0-0-.'&'%0')"'(%3'."
>'?&"#'(%H#-(3-.%5'()%/?/?%3">-?/"%3"%$<=>*'.-G$<=>*'.-%#'"((5'C%$-&-.>"%?-(/+%E-(/
"("%3'&'>%4(3'%>-?/"%3"%&<2<6%6"."%0')"'(%'>'$%&'3'%>'?&"#'(%3-='/#>%H#-(3-.%$-&-.>"
6-0'(5'6'(%$<=>*'.-%/?/?(5'+%

             E-#'#/"%?-(/%Z,2#%4(3'%3'&'>%?-?0/6'C%?-(5"?&'(C%?-()-6$&<.%="#-%'>'/
6-#/'.%3'."%H#-(3-.+%%,'3'%?-(/%[3,/%4(3'%3'&'>%?-#'6/6'(%0-.0')'"%&.<$-$%?'("&/#'$"
>-.1'3'&%<02-6%5'()%4(3'%0/'>+%E-(/%?,#U%?-?0-."6'(%&"#"1'(%&'(3'()'(%&'3'
>'?&"#'(%/>'?'+%E-(/%.-#%3"61/$/$6'(%/(>/6%&-?0/'>'(%&.<5-6%)'?-%'>'/%$<=>*'.-
"(>-.'6>"=+%E-(/%R<<#$%0-.6'">'(%3-()'(%&'A6"()%3'>'+%4(3'%3'&'>%?-?&'A6%3'(%?-()G
/(&'A6%3'>'G3'>'%5'()%3")/('6'(%&'3'%$A-(-%5'()%4(3'%0/'>+

             R'?&"#'(%/>'?'%H#-(3-.%$-0-('.(5'%>-.0')"%?-(2'3"%0-0-.'&'%2-(3-#'%'>'/
U,$3'U+%,'3'%>"'&%*"(3<*%>-.3'&'>%$-0/'1%0'."$'(%"A<(G"A<(%6-A"#%5'()%0-.'3'%&'3'
0')"'(%'>'$%'>'/%0'*'1%*"(3<*+%H'."$'(%"A<(G"A<(%"("%3"('?'6'(%7#.3#)+%Q-'3-.%2/)'
0-.=/()$"%/(>/6%?-('(3'6'(%*"(3<*%?'('%5'()%'6>"=+%]"(3<*%5'()%'6>"=%?-?"#"6"
1-'3-.%5'()%0-*'.('%#-0"1%>-.'()%3"0'(3"()6'(%5'()%#'"((5'+%O(>/6%?-()'6>"=6'(
$-0/'1%*"(3<*%A/6/&%3-()'(%?-())-.'66'(%A/.$<.%6-'>'$(5'+
8"'(>'.'%*"(3<*G*"(3<*%>-.3'&'>%$-0/'1%)'."$%0'>'$%'>'/%5')3#)+%8-()'(
0<.3-.%"("%4(3'%3'&'>%?-()/0'1G/0'1%/6/.'(%*"(3<*C%?-?0')"%'>'/%?-())'0/()6'(%P
*"(3<*%5'()%3"0'>'$"%<#-1%$-0/'1%0<.3-.C%?-(5-?0/(5"6'(%3'(%?-('?&"#6'(%1-'3-.
/(>/6%>"'&%*"(3<*+%O(>/6%?-()/0'1%/6/.'(%*"(3<*%4(3'%A/6/&%?-(3.')(5'%$'?&'"
*"(3<*%5'()%"()"(%4(3'%/0'1%/6/.'((5'%$-$/'"%3-()'(%6-"()"('(%4(3'+%




                 O*&$(%6*$#*+/%52+#*+%#$"%B'"#2B%)$#$%&$,)'.$"%4&$,$%?.*"#*+

             E-(/%5'()%0-.'3'%&'3'%&<2<6%6"."%'>'$%$-0->/#(5'%?-./&'6'(%1-'3-.%3'."
$-0/'1%*"(3<*+%^<0'#'1%>'."6%0<.3-.%5'()%0-.'3'%3"%0'*'1%?-(/%>-.$-0/>%?'6'%'6'(
?/(A/#%$-0/'1%*"(3<*+%]"(3<*%"("%0-.('?'%,$F'%U,$3'U+%8"$"("%4(3'%3'&'>
?-()/0'1%$->>"()%3'."%H#-(3-.C%$-&-.>"%?-()'6>"=6'(%O).5%O),3%B5'()%0"'$'(5'%&'3'
$<=>*'.-%$<=>*'.-%#'"((5'%#-0"1%3"6-('#%3-()'(%V$('&XJC%3"?'('%H#-(3-.%'6'(
?-#->'66'(%="#-%'/><$'L-C%3"?'('%H#-(3-.%'6'(%?-#->'66'(%="#-%1'$"#%.-(3-.C%$-0-.'&'
$-."()%H#-(3-.%?-#'6/6'(%'/><$'L-%3'(%0-.0')'"%$->>"()%#'"((5'+%




                                        @";2%B'"#2B

             Y"6'%4(3'%"()"(%?-()/0'1%$->>"()G$->>"()%>-.$-0/>C%$->-#'1%$-#-$'"
?-#'6/6'(%&-./0'1'(%/(>/6%?-(5"?&'(%$->>"()%0'./%>-6'(%A]/)2^8D%&'3'%6-50<'.3+
,-.#/%3""()'>%0'1*'%&-(5"?&'('(%$->>"()%>-.$-0/>%'6'(%?-("?&'%$->>"()%3-='/#>%H#-(3-.+
O(>/6%?-?0'#"6%6-$-#/./1'(%$->>"()%6-%3-='/#>%1'&/$%="#-%+0+0#-(3%5'()%>-.3'&'>%&'3'
=<#3-.%_7'-#_$.-.`(6#)%0')"%4(3'%5'()%?-())/('6'(%@;%W"(/+%,'3'%@;%]"(3<*$
P999%'>'/%a,%="#-%>-.$-0/>%3'&'>%4(3'%>-?/6'(%3"%=<#3-.%aE'*(-#$/6%.$3
&#//,$O6a$.-.`(6#)a+""2,*./,'$%E./.ab'/%.%b(-5#)a12#$3#)+%;-3'()6'(%&'3'%@;
]"(3<*$%e%="#-%"("%3'&'>%4(3'%>-?/"%&'3'%=<#3-.%aU,$3'U6+

            E-#'#/"%0<.3-.%4(3'%2/)'%3'&'>%?-?0')"%'>'/%?-())'0/()6'(%*"(3<*%3'(
?-('?&"#6'(%'>'/%?-(5-?0/(5"6'(%1-'3-.+%R-6'(%AGN1D%&'3'%0<.3-.%6-?/3"'(%'6'(
?/(A/#%&"#"1'(%$&#">%'.-'C%2<"(%'.-'$%3'(%(<N'33%1-'3-.+%,"#"1%$&#">%'.-'%/(>/6%?-?0')"
$-0/'1%*"(3<*%5'()%'6>"=%3'(%?-(-?&-#%&'3'%0<.3-.%>-.$-0/>C%2<"(%'.-'$%/(>/6
?-())'0/()6'(%P%*"(3<*%5'()%?-()'&">%0<.3-.%>-.$-0/>C%(<%1-'3-.%/(>/6
?-(5-?0/(5"6'(%1-'3-.%3'(%'33%1-'3-.%/(>/6%?-('?&"#6'((5'+%

              ,'3'%&<2<6%6"."%>"'&%1-'3-.%>-.3'&'>%$-0/'1%"A<(%5'()%3"'&">%<#-1%P%0/'1
$-)">")'%6-A"#%'>'/%"A<(%]())#$/%U,$3'U%/J"#+%IA<(%"("%0-.=/()$"%/(>/6%?-()/0'1
*"(3<*%5'()%3">'?&"#6'(+%K'?0'.%"A<(%'6'(%0-./0'1%$-$/'"%3-()'(%>5&-%*"(3<*%5'()
'6>"=%&'3'%'.-'%*"(3<*%>-.$-0/>+%^'.'%?-()/0'1%2-("$%$-0/'1%*"(3<*%A/6/&%6#"6%3'(
>'1'(%IA<(%>-.$-0/>C%#'#/%'6'(%?/(A/#%?-(/%0-."$"%$-3-.->'(%"A<(G"A<(%6-A"#%3"'>'$(5'+
D-?/3"'(%&"#"1%]"(3<*%R5&-%5'()%4(3'%"()"(6'(+




                           O*&$(8.*&$(%@12"%R4++*"&%V'"#2B%P3)*

             Y"6'%4(3'%6/.'()%&/'$%3-()'(%>'?&"#'(%3-='/#>%H#-(3-.%4(3'%3'&'>
?-()/0'1G/0'1%>'?&"#'(%$-$/'"%$-#-.'%3'(%6-0/>/1'(%4(3'+%,-.>'?'G>'?'%6#"6%"A<(
3-()'(%>'(3'%?"(/$%&/>"1%5'()%0-.'3'%3"$'?&"()%6'('(%?-(/%R<<#$%'>'/%"A<(%1)'U6#
E./.52'*H%')%+33%b[T%$->-#'1%?/(A/#%$-0/'1%?-(/%&"#"1%488%TF]+%%W'6/6'(
&-(5-$/'"'(%>'?&"#'(%#'#/%2"6'%4(3'%"()"(%?-()/0'1%('?'%>'?&"#'(%5'()%>-#'1%4(3'
0/'>%6#"6%('?'%3"$'?&"()%>'(3'%?"(/$%6-?/3"'(%$"?&'(%$->>"()%3-()'(%A'.'%?-(-6'(
A]/)2^8D+%

             ;'?'%$-&-.>"%6->"6'%?-(5"?&'(%$->>"()%&'3'%"(=<%*"(3<*C%$->>"()%5'()
4(3'%$"?&'(%'6'(%?-("?&'%$->>"()%3-='/#>%H#-(3-.+%O(>/6%?-?0'#"6%$->>"()%L"-*%6-
3-='/#>%1'&/$%="#-%+H+0#-(3+%;-0-#/?%?-./0'1G./0'1%>'?&"#'(%H#-(3-.%&-.#/%3"&-.1'>"6'(
0'1*'%#'>"1'(G#'>"1'(%&'3'%0/6/%"("%?-())/('6'(%>'?&"#'(%3-='/#>%H#-(3-.%B$A.--(+99`J+
P$,)'.$"%?.*"#*+%3$"0%&*.$6%#',2#';'($7'

              ;-0-#/?(5'%3"$-0/>%?-()-('"%IA<(%%H.<*$-%8'>'0#<A6%<.%433%TF]+%IA<(
H.<*$-%8'>'0#<A6%<.%433%TF]%"("%'6'(%0'(5'6%4(3'%>-?/"%0-.>-0'.'(%&'3'%*"(3<*G
*"(3<*%H#-(3-.+%H#-(3-.%?-())/('6'(%0#<6G0#<6%3'>'%/(>/6%?-()1/0/()6'(%$'>/
<02-6%3-()'(%<02-6%#'"((5'%BA1"#3%3-()'(%&'.-(>J%'>'/%<02-6%3-()'(%-#-?-(%<02-6%B<02-6
3-()'(%?'>-."'#%'>'/%?'>-."'#%3-()'(%>->/.-J%3'(%$->-./$(5'+%8-()'(%"A<(%>-.$-0/>%4(3'
3'&'>%?-('?0'16'(%'>'/%?-?"#"1%0#<6%3'>'+%O(>/6%?-?&-.$"()6'>%&-(/#"$'(C%3"%3'#'?
0/6/%"("%6">'%$-0/>%"A<(%"("%$-0')'"%"A<(%8'>'0#<A6%$'2'+

             E'$"()G?'$"()%"A<(%8'>'0#<A6%?-?"#"6"%=/()$"%$-$/'"%3-()'(%#->'6(5'C
$-0')'"%A<(><1%&'3'%0')"'(%?'>-."'#%3"%*"(3<*%H/>><($C%"A<(%8'>'0#<A6%"("%0-.=/()$"
/(>/6%?-('?0'1%%?'>-."'#%0'./%3'(%?-?"#"1%$-0/'1%?'>-."'#%3'."%3'=>'.%?'>-."'#G
?'>-."'#%5'()%'3'+%O(>/6%?-()1'&/$%#"(6%6-%0#<6%3'>'%5'()%>-.$-#-6$"%A/6/&%6#"6%><?0<#
0-.>'(3'%$"#'()%3"$'?&"()%('?'%0#<6%3'>'+




                            @12"%?+2B7*%N$&$5.21(%2+%!##%S=V

             ^/6/&%?-?/$"()6'(%'&'0"#'%4(3'%1'(5'%?-()'(3'#6'(%&-())/(''(%"A<(
H.<*$-%8'>'0#<A6%<.%433%TF]%$'2'%/(>/6%?-#'6/6'(%('L")'$"%3"'(>'.'%>"'&G>"'&%0#<6
3'>'+%O(>/6%?-?0'(>/%4(3'%?-#"1'>%1/0/()'(%'(>'.'%>"'&%<02-6%4(3'%3'&'>%?-?0/6'
&*7#-./,*%U,$3'U+%^'.'%?-()'6>"=6'(%;A1-?'>"A%*"(3<*%4(3'%1'./$%?-?"#"1%"A<((5'
3'."%"A<(%^/..-(>%]"(3<*%R5&-+%
F16*,$&'1%B'"#2B

             8-()'(%&*7#-./,*%U,$3'U%4(3'%3'&'>%?-#"1'>%1/0/()'(%'(>'.'%$-0/'1
<02-6%3-()'(%?'>-."'#C%<02-6%3-()'(%<02-6%#'"((5'%3'(%$->-./$(5'+%R"'&%0#<6%3'>'
3")'?0'.6'(%3-()'(%$-0/'1%6<>'6%3-()'(%$"?0<#%3'(%*'.('%>-.>-(>/%3-()'(%('?'%<02-6
3"$'?&"()(5'+%;"?0<#%3'(%*'.('%>-.$-0/>%>-.)'(>/()%3'."%2-("$%<02-6%5'()%0-.$'()6/>'(+
Q/0/()'(%$'>/%<02-6%3-()'(%<02-6%#'"((5'%3")'?0'.6'(%3-()'(%$-0/'1%)'."$%>"&"$+
;A1-?'>"A%*"(3<*%1'(5'%0-.=/()$"%/(>/6%?-?0-."6'(%)'?0'.'(%1/0/()'(%>"'&%<02-6+
4(3'%3'&'>%?-())-.'6G)-.'66'(%6<>'6%5'()%?-.-&.-$-(>'$"6'(%>"'&%<02-6%>->'&"%1'#%">/
>"3'6%'6'(%0-.&-()'./1%&'3'%$A-(-%5'()%4(3'%0/'>+%

             8"%3'#'?%H#-(3-.%'3'%0'(5'6%$-6'#"%>"&-%*"(3<*C%('?/(%QE%%U,$3'U
'3'#'1%*"(3<*%5'()%&'#"()%&-(>"()%/(>/6%3"0'1'$%3"$"("+%78%*"(3<*%'3'#'1%*"(3<*
>'?&"#'(C%>-?&'>%<02-6%5'()%6">'%6-.2'6'(%3">'?&"#6'(%3'(%>-?&'>%6">'%?-#'6/6'(
$-0')"'(%0-$'.%&-6-.2''(%>-./>'?'%?<3-#"()%3'(%'("?'$"+%;-&-.>"%&'3'%6-0'(5'6'(
$<=>*'.-%78%#'"((5'%&'3'%*"(3<*%"("%L"-*%B>'?&"#'(J%3'&'>%6">'%)-.'66'(%$-$/'"%3-()'(
6-0/>/1'(+




                                      MN%V'"#2B
O(>/6%?-())-$-.%'>'/%?-?GV&'(X%L"-*C%>'1'(%A&7,F/^NN1D%#'#/%)-.'66'(
?</$-+%,-.)-$-.'(%#'5'.%3-()'(%&'(%'3'#'1%0-.3'$'.6'(%&-.)-.'6'(%?</$-%5'()%4(3'
#'6/6'(+

             O(>/6%?-(l<<?%L"-*%>-6'(%3'(%>'1'(%%A]/)2^LN1D%#'#/%)-.'66'(%?</$-
$-3"6">%$'?&'"%#'5'.%0-.)-.'6+%W'5'.%'6'(%0-.)-.'6%&-.#'1'(%2"6'%A/.$<.%0-.'3'%3"%3-6'>
>">"6%3"?'('%4(3'%?-(-6'(%%A]/)2^LN1D+%Y"6'%A/.$<.%0-.'3'%2'/1%3"%>">"6%>-.$-0/>%?'6'
#'5'.%'6'(%0-.)-.'6%3-()'(%A-&'>+%O(>/6%l<<?%"(C%)-.'66'(%?</$-%6-%6'('(%'>'/%'>'$C
$-3'()6'(%/(>/6%l<<?%</>%)-.'66'(%?</$-%6-%6"."%'>'/%6-%0'*'1+

              ,'3'%78%*"(3<*%H#-(3-.%?-?"#"6"%$-0/'1%QE%*()6')+%78%A/.$<.%0-.0-(>/6
#"()6'.'(%6-A"#%0-.*'.('%?-.'1%&/>"1%3-()'(%h%)'."$%L-.>"6'#%3'(%1<."$<(>'#%&'3'%&"()".G
&"())".(5'+%78%A/.$<.%"("%?-?"#"6"%0'(5'6%=/()$"C%$'#'1%$'>/(5'%'3'#'1%$-0')'"%$/?0/
6->"6'%4(3'%?-.<>'$"%L"-*%&'3'%*"(3<*%78+%78%A/.$<.%"("%3'&'>%4(3'%&"(3'1G&"(3'1C
A/6/&%3-()'(%?-(-6'(%ALN1D%&'3'%>-?&'>%5'()%4(3'%"()"(6'(+%T'?/(%/(>/6%?-.<>'$"
L"-*%3-()'(%78%A/.$<.%$-0')'"%$/?0/(5'%?'6'%4(3'%1'./$%?-#->'66'((5'%3"%>-()'1%78
A/.$<.%>-.#-0"1%3'1/#/%3-()'(%A'.'%?-(-6'(%%A]D%&'3'%6-50<'.3+%!<>'$"%S"-*%3'&'>
4(3'%#'6/6'(%3-()'(%?-('1'(%ANN1D%3'(%?-())-$-.%?</$-+




                                       MN%R4+72+

             ,'(3'()'(%&'3'%78%*"(3<*%3'&'>%4(3'%./0'1%./0'1%$-$/'"%6-0/>/1'(%2/)'+
O(>/6%?-./0'1%&'(3'()'(%)/('6'(%><?0<#G><?0<#%Ab(-".3%@cQ%3.$%dD%&'3'%6-50<'.3
/(>/6%?-./0'1%&'(3'()'(%6-%=.<(>%B3-&'(JC%$"3-B$'?&"()J%3'(%><&%B'>'$J+%Ab(-".3%=D
0-.=/()$"%/(>/6%?-?"(3'1G?"(3'16'(%>'?&"#'(%3'."%&-.$&-6>"=%6-%<.><)<('#%'>'/
$-0'#"6(5'+%Ab(-".3%<%3.$%VD%0-.=/()$"%/(>/6%?-.<>'$"%>'?&"#'(%6-%0'*'1%3'(%6-%'>'$
&-.%#'()6'1C%$-3'()6'(%Ab(-".3%C%3.$%YD%0-.=/()$"%/(>/6%?-.<>'$"%>'?&"#'(%6-
$'?&"()%&-.%#'()6'1+%,-.#/%3""()'>%0'1*'%2"6'%4(3'%0-6-.2'%3-()'(%H#-(3-.%&'3'%@;
]"(3<*$C%4(3'%&-.#/%?-()'6>"=6'(%T/?W<A6%>-.#-0"1%3'1/#/%/(>/6%3'&'>%?-())/('6'(
$1<.>A/>G$1<.>A/>%>-.$-0/>+

             8'#'?%78%]"(3<*%'3'%7%A'.'%<02-6%3">'?&"#6'(%AE).UKJ"#DC%0</(3"()
0<C%*".-C%$<#"3%3'(%$1'3-3%?<3-+%H</(3"()%0<%'3'#'1%$-0/'1%'.-'%6<>'6%5'()
?-('(3'"%2'.'6%&'#"()%#/'.%3'."%$-0/'1%<02-6+%,'3'%H</(3"()%0<%?<3-%1'(5'%0</(3"()
0<%3'."%<02-6G<02-6%5'()%$-$/())/1(5'%5'()%3">'?&"#6'(+%]".-%?<3-%1'(5'
?-('?&"#6'(%-3)-G-3)-%3'."%<02-6%5'()%0-.'3'%&'3'%#'5'.+%;-3'()6'(%3-()'(%$<#"3
?<3-%<02-A>%3">'?&"#6'(%$-A'.'%/>/1C%>'(&'%?-()1".'/6'(%&-(A'1'5''(N#")1>("()+
;1'3-3%?<3-%?"."&%3-()'(%$<#"3%?<3-C%('?/(%&-(A'1'5''(%?-?&-()'./1"%<02-6+%4(3'
3'&'>%0-.&"(3'1G&"(3'1%3"'(>'.'%6->")'%?<3-%>-.$-0/>%3-()'(%?-(-6'(%%AeDC%A&7,F/^eD
3'(%A]/)2^eD%&'3'%6-50<'.3+%
]".-%3'(%$1'3-3

<;=1#H#)I.%3#$O.$%12#$3#)

%%%%%%%%%%%%%%%%%%%%%%%%%%%8'#'?%?-#'6/6'(%?'("&/#'$"%<02-6%&'3'%H#-(3-.%3"6-('#%3/'%?<3-C
5'">/%!5I#*/N'3#%3'(%[3,/N'3#+O(>/6%0-.&"(3'1G&"(3'1%3'."%@02-A>E<3-%6-
F3">E<3-%'>'/%$-0'#"6(5'%>-6'(%%AK.5D     +%,'3'%!5I#*/N'3#%4(3'%3'&'>%?-#'6/6'(
.<>'>-C%$A'#-%3'(%?<L-%&'3'%$-0/'1%<02-6%6#*.).%H#6#2()(7.$+%O(>/6%?-#'6/6'(%-3">"()
5'()%#-0"1%3->'"#%&'3'%)-<?->."%>-(>/(5'%4(3'%1'./$%?-#'6/6'(%?'("&/#'$"%$/0%<02-A>+
;-0-#/?%?-#'6/6'(%?'("&/#'$"%$/0%<02-6%4(3'%1'./$%?'$/6%6-%[3,/N'3#+%


             ;-#-6$"%3'(%<&-.'$"G<&-.'$"%<02-6%3'#'?%H#-(3-.%0-.$"='>%><))#-+%;"='>%><))#-
'.>"(5'%$-#-6$"%'>'/%<&-.'$"%>-.$-0/>%'6'(%'6>"=%>-./$%$-#'?'%4(3'%0-#/?%?-(5/3'1"(5'+
;-0')'"%A<(><1%?"$'#6'(%&'3'%!5I#*/N'3#C%4(3'%"()"(%?-.<>'$"%$-0/'1%<02-A>C%A/6/&
4(3'%'6>"=6'(%<02-6%>-.$-0/>%AGN1D%3'(%>-6'(%$1<.>A/>%/(>/6%.<>'$"%AGDC%?'6'%<02-A>
>-.$-0/>%'6'(%0-.&/>'.%6->"6'%4(3'%?-())-.'66'(%?</$-C%>'(&'%1'./$%?-('1'(%$-0/'1
><?0<#+%O(>/6%?-(5/3'1"(5'%0"'$'(5'%3"#'6/6'(%3-()'(%?-(-6'(%ALN1D%$-6'#"+

             O(>/6%?-()'6>"=6'(%$-0/'1%<02-6%BGN1D%&'3'%<02-6%5'()%"()"(%4(3'
&"#"1+%,'3'%!5I#*/N'3#%AK.5D%      %<02-6%5'()%>"3'6%>-.&"#"1%B>"3'6%'6>"=J%0-.*'.('%1">'?
B&'3'%L"-*%*".-%?<3-J%3'(%&"L<>%&<"(>(5'%0-.*'.('%6/("()%B&'3'%$-?/'%L"-*%?<3-J+
;-3'()6'(%<02-6%5'()%>-.&"#"1%B'6>"=J%0-.*'.('%/()/%B&'3'%L"-*%*".-%?<3-J%3'(%&"L<>
&<"(>(5'%0-*'.'(%/()/%2/)'%B&'3'%$-?/'%L"-*%?<3-J+%

             @02-6%5'()%'6>"=%&'3'%@02-A>E<3-%0-.2/?#'1%?'"?/?%$'>/%$'2'+%4(3'
3'&'>%?-?"#"1%0-0-.'&'%<02-6%$-6'#")/$C%('?/(%>->'&%1'(5'%$'>/%<02-6%5'()%0-.$>'>/$
'6>"=+%@02-6%5'()%'6>"=%3"'(>'.'%0-*'.('%#-0"1%>-.'()%&'3'%*".-%?<3-%3"0'(3"()6'(
3-()'(%<02-6G<02-6%#'"((5'%5'()%>-.$-#-6$"+%Y"6'%&'3'%$A-(-%5'()%4(3'%6-.2'6'(%1'(5'
'3'%$-0/'1%<02-6%?'6'%<02-6%>-.$-0/>%'6'(%$-#'#/%'6>"=+%


              ,'3'%$''>%4(3'%&-.>'?'%6'#"%?'$/6%[3,/N'3#%AK.5D     C%$-#/./1%L-.>-
&'3'%<02-6%0-.*'.('%/()/+%L-.>-%5'()%0-.*'.('%/()/%?-('(3'6'(%0'1*'%"'%>"3'6
>-.&"#"1+%O(>/6%?-?"#"1(5'%6#"6%AGN1D%&'3'%$-0/'1%L-.>-C%"'%'6'(%0-./0'1%*'.('
?-(2'3"%6/("()+%
4(3'%2/)'%3'&'>%?-?"(3'16'(%&"L<>%&<"(>%3'#'?%F3">E<3-+%,"L<>%&<"(>
&'3'%H#-(3-.%'3'#'1%$-0/'1%>">"6%0<#'%6-A"#%5'()%0-.*'.('%/()/+%^'.'(5'%4(3'%1'(5'
&-.#/%?-($-#-A>%$-#/./1%L-.>-%&'3'%$-0/'1%<02-6%3'(%?-?"(3'16'((5'%$-1"())'%&"L<>
&<"(>%0-.'3'%&'3'%&<$"$"%5'()%4(3'%"()"(6'(+%8"%3'#'?%F3">E<3-%!<>'$"%3'(%$A'#-%>->'&
3"#'6/6'(%0-.3'$'.6'(%>">"6%>-()'1%3'."%$/0%<02-A>G$/0%<02-A>%5'()%4(3'%&"#"1+%O(>/6
?-#'6/6'(%.<>'$"%3'(%$A'#-%0-.3'$'.6'(%&"L<>%&<"(>%4(3'%1'./$%6-#/'.%3'."%-3">"()%?<3-
3'(%?'$/6%6-%@02-A>E<3-+%,-?0-."'(%?'>-."'#C%#")1>("()%3'(%4("?'$"%2/)'%1'./$
3"#'6/6'(%&'3'%@02-A>E<3-+%

            O(>/6%<&-.'$"%5'()%?-?0/>/16'(%"(&/>G"(&/>%'()6'C%0"'$'(5'%H#-(3-.
?-(5<3<.6'(%$-0/'1%0/>><(%3-()'(%6->-.'()'(%3'(%'()6'%3"$'?&"()(5'+%O(>/6
?-()/0'1%("#'"%"(&/>%6#"6%3'(%>'1'(%A/.$<.%&'3'%><?0<#%>-.$-0/>%3'(%)-$-.%?</$-%6-
$'?&"()+%O(>/6%?-('?0'16'(%("#'"(5'C%)-$-.%?</$-%6-%6'('(%3'(%/(>/6
?-()/.'()"(5'+%O(>/6%?-('?0'16'(%("#'"(5'%$-3"6">%3-?"%$-3"6">C%6#"6%&'3'%$-0-#'1
6'('(%'()6'%0-0-.'&'%6'#"%1"())'%?-(A'&'"%("#'"%5'()%4(3'%"()"(6'(+%O(>/6
?-()/.'()"(5'%$-3"6">%3-?"%$-3"6">%6#"6%&'3'%$-0-#'1%6"."%'()6'%0-0-.'&'%6'#"%1"())'
?-(A'&'"%("#'"%5'()%4(3'%"()"(6'(+%Y"6'%4(3'%"()"(%#'()$/()%?-?'$/66'(%"(&/>%'()6'
#'()$/()%3'."%6-50<'.3C%>-6'(%A&7,F/^LN1D%&'3'%0/>><(%"(&/>C%?'$/66'(%("#'"%5'()
4(3'%"()"(6'(%3'(%>-6'(%A[$/#)D


                      @")4&%"4,*+'1%54&&2"%*"*+03%)$#$%$+*$%.$,)%54&&2"7

            8'#'?%?-())/('6'(%H#-(3-.%&-())/(''(%$1<.>A/>%$'()'>#'1%&-(>"()C
6'.-('%3'&'>%?-?&-.A-&'>%6-.2'%4(3'%>-./>'?'%$-*'6>/%4(3'%?-#'6/6'(%&.<$-$%-3">"()
3'(%$-0')"'(%0-$'.%&.<$-$%-3">"()%$-&-.>"(5'%?-?'()%1'./$%3"#'6/6'(%3-()'(%$1<.>A/>+%

             4(3'%5'()%>-.0"'$'%3-()'(%$1<.>A/>G$1<.>A/>%$<=>*'.-G$<=>*'.-%&'3'
]"(3<*$%?/()6"(%'*'#(5'%4(3'%'6'(%?-()'#'?"%$-3"6">%6-$/#">'(%3-()'(%0-0-.'&'
$1<.>A/>%&'3'%H#-(3-.C%6'.-('%$1<.>A/>G$1<.>A/>%&'3'%H#-(3-.%2/)'%V')'6%?-(5"?&'()X
3'."%6-0'(5'6'(%$<=>*'.-%#'"((5'+%;-?"$'#%/(>/6%?-?0/'>%&.<5-6N="#-%0'./C%5'()
0"'$'(5'%6-0'(5'6'(%$<=>*'.-%?-())/('6'(%$1<.>A/>%^>.#mT%H#-(3-.%?-())/('6'(
$1<.>A/>%A]/)2^fD+

             4(3'%3'&'>%?-(-?/6'(%.-=-.-($"%$1<.>A/>G$1<.>A/>%&-(>"()%&'3'%0')"'(
0-#'6'()%0/6/%"("+%;-0')"'(%0-$'.%$1<.>A/>%#'"((5'%3'&'>%4(3'%&-#'2'."%?-#'#/"%='$"#">'$
><<#>"&C%3-()'(%?-#->'66'(%A/.$<.%6-%'>'$%><?0<#%5'()%4(3'%"()"(%)/('6'(+




                                     &22.&')%)$#$%?.*"#*+
<;YZ.6,2,/.6%N'3#22,$O

               H#-(3-.%?-(5-3"'6'(%0-0-.'&'%='$"#">'$%/(>/6%?<3-#"()+%R"'&G>"'&%='$"#">'$
?<3-#"()%>-.$-0/>%>-(>/(5'%?-?"#"6"%6-#-0"1'(%3'(%6-6/.'()'((5'%?'$"()G?'$"()%$-.>'
?-?0/>/16'(%'#/.%6-.2'%5'()%0-.0-3'%$'>/%$'?'%#'"(+%,'3'%H'0%"("%6">'%'6'(%?-()/#'$
='$"#">'$G='$"#">'$%?<3-#"()%&'3'%H#-(3-.%$-A'.'%$"()6'>+

<;Y;@N#67%N'3#2,$O

             E-$1%?<3-#"()%'3'#'1%>-6("6%3'$'.%?<3-#"()%5'()%3")/('6'(%<#-1%$-0')"'(
0-$'.%$<=>*'.-%78+%E-$1%?<3-#"()%&'3'%H#-(3-.%1'(5'%3'&'>%3"#'6/6'(%&'3'%#-L-#%L-.>-
BL-.>-G0'$-3%?<3-##"()%'>'/%='A-%05%='A-J%('?/(%/(>/()(5'%0#-(3-.%?-(5-3"'6'(
='$"#">'$%&(539,6,'$%&()F.*#C%0"'$'%3"$-0/>%3-()'(%&(5>3%B&-()/A'&'((5'%;'0G3"J%5'()
0'"6%/(>/6%?-$1%?<3-#"()+%

             ;-#'"(%">/%H#-(3-.%1'(5'%3'&'>%?-()-('#"%='A-%3-()'(%7%'>'/%h%L-.>-C%3"'>'$
">/%H#-(3-.%?-(<#'6%/(>/6%?-?0/'>%='A-+%E-?'()%?-.-&<>6'(%&'3'%'*'#(5'C%>-./>'?'
0')"%4(3'%5'()%>-.0"'$'%?-#'6/6'(%?<3-#"()%3-()'(%>-6("6%0<%?<3-#"()+%,-(/#"$
$-(3"."%&'3'%'*'#(5'%$'()'>%?-.'$'%6-$/#">'(%?-#'6/6'(%?<3-#"()%3-()'(%H#-(3-.
?-())/('6'(%>-6("6%?-$1%?<3-#"()+%

             ;->-#'1%0-0-.'&'%$''>%&-(/#"$%?-(A<0'%?-())/('6'(%H#-(3-.%>-.(5'>'
L-.>-%0'$-3%?<3-#"()%#-0"1%?-('(>'()%('?/(%0/6'((5'%?-?0/'>%$'6">%6-&'#'C%?-#'>"1
6->-#'>-('(C%3'(%3'#'?%0-0-.'&'%6'$/$%$-0-('.(5'%L-.>-%0'$-3%?<3-##"()%#-0"1%-="$"-(
3"0'(3"()%>-6("6%0<%?<3-#"()+%E"$'#(5'%6->"6'%4(3'%?-?0/'>%?<3-#%*'2'1%?'(/$"'C
6<(>/.%<><>%*'2'1%3'&'>%4(3'%A"&>'6'(%3-()'(%?/3'1%3'(%2'/1%#-0"1%A-&'>C%'>'/%2"6'
4(3'%&-.#/%?-?0/'>%?<3-#%5'()%3"1'./$6'(%?-?"#"6"%$>./6>/.%?-$1%>-.>-(>/%B61/$/$(5'
/(>/6%?<3-#G?<3-#%#<*%&<#5J+

             8-()'(%6->-.0'>'$'((5'%5'()%1'(5'%3'&'>%?-(-."?'%='A-%3-()'(%2/?#'1
L-.>-%5'()%>-.0'>'$%&'3'%7%3'(%hC%1'#%>-.$-0/>%?-?'$>"6'(%?-$1G?-$1%&'3'%?<3-#%5'()
4(3'%0/'>%?-(2'3"%#-0"1%.'&"+%E<3-#%5'()%>-.3"."%3'."%='A-$G='A-$%3-()'(%h%$"$"%0"'$'(5'
#-0"1%?/3'1%3"'("?'$"6'(%6'.-('%&-.?/6''((5'%#-0"1%$>'0"#%$-*'6>/%3"3-=<.?'$"6'(
?"$'#(5'%$-*'6>/%?-()'("?'$"6'(%?<3-#%>-.$-0/>%3-()'(%0<(-+

             ,-.#/%2/)'%3"0'1'$%?-()-('"%0<%?<3-#"()%$-3"6">%3"$"("+%R-6("6%0<
?<3-#"()%'3'#'1%>-6("6%?<3-#"()%5'()%?-())/('6'(%<02-6G<02-6%&."?">"=%B0<C%$&1-.-C
A5#"(3-.C%3'(%$-0')'"(5'J%$-0')'"%3'$'.(5'+%@02-6G<02-6%>-.$-0/>%3"-3">%3'(%3"0-(>/6
$-1"())'%?-(2'3"%0-(>/6%<02-6%5'()%3""()"(6'(+%R-6("6%0<%?<3-#"()%?-(/./>%&-(/#"$
'3'#'1%>-6("6%5'()%>-.0'"6%3'(%0"$'%4(3'%)/('6'(%3"%$-0')"'(%0-$'.%$<=>*'.-%78%5'()
/?/?+%;-#'"(%">/%3-()'(%0<%?<3-#"()%4(3'%3'&'>%?-(A"&>'6'(%?<3-#G?<3-#%1")1%&<#5
B3-()'(%0'(>/'(%$/03J%?'/&/(%#<*%&<#5%3-()'(%?/3'1+

<;Y;<N#/.5.22

            E->'0'##%'3'#'1%='$"#">'$%?<3-##"()%5'()%2'.'()%3")/('6'(C%*'#'/
0-#'6'()'(%0-0-.'&'%$<=>*'.-%'("?'$"%?-?0-."6'(%='$"#">'$%?"."&%$-&-.>"%>-6("6
?->'0'##C%$-&-.>"%&'3'%$<=>*'.-%c0./$1%'>'/%&#/)"(%E'%5'()%0-.('?'%E->'!-5-$+
R-6("6%?<3-##"()%3-()'(%?->'0'##%?"."&%$-&-.>"%6->"6'%4(3'%0-.?'"(%3-()'(%>'('1%#"'>
'>'/%#"#"(%?'"('(+%E->'0'##%'3'#'1%$-0/'1%<02-6%0-.0-(>/6%0<#'%3'(%0-.$"='>%$-&-.>"%A'".'(
'>'/%>'('1%#"'>%BA#'5J+%O(>/6%?-?0/'>%0')"'(%5'()%3"&-.#/6'(C%4(3'%A/6/&
?-('?0'16'(%$-0/'1%?->'0'##%3'(%?-(5'>/6'((5'%3-()'(%?->'0'##%#'"((5'+%

              43'%P%2-("$%?->'0'##%5'()%/>'?'C%5'">/%&<$">"=%3'(%(-)'>"=+%E->'0'##%&<$">"=
0"#'%$'#"()%3"3-6'>6'(%'6'(%?-(5'>/%3-()'(%?->'0'##%&<$">"=%#'"((5'+%;-3'()6'(
?->'0'##%(-)'>"=%0"#'%3"3-6'>6'(%'6'(%?-()/.'()"%0')"'(%&'3'%?->'0'##%&<$">"=%0-.0-(>/6
&-.&<><()'(%?->'0'##%6-3/'%?->'0'##%>-.$-0/>+%

            ;-#'"(%?->'0'##%0-.0-(>/6%0<#'%4(3'%3'&'>%?-())/('6'(%?->'0'##
0-.0-(>/6%6'&$/#+%^'.'%?-()/0'1%2-("$%3'(%0-(>/6%$-0/'1%?->'0'##%&"#"1%?->'0'##%5'()
"()"(%4(3'%./0'1%6-%F3">E<3-%AK.5D      C%'6>"=6'(%[3,/%5(//'$6%AZBD%  +%,'3'%'.-'
F3">%0/>><($%4(3'%3'&'>%?-#"1'>%><?0<#%b#O./,Fc%1.22c%K(5#fc%K(5#g%3'(%K(5#e+
46>"=6'(%0/>><(%$-$/'"%3-()'(%&-./0'1'(%5'()%"()"(%4(3'%#'6/6'(%>-.1'3'&%?->'0'##
5'()%4(3'%&"#"1+%;'()'>%$"?&-#%3'(%?/3'1%?-#'6/6'(%?<3-#"()%3-()'(%?->'0'##+%




                         ?4&&2"854&&2"%J*&$5$..%)$#$%$+*$%=#'&?4&&2"7

             E->'0'##%$'()'>%-=-6>"=%0"#'%4(3'%"()"(%?-?0/'>%?<3-#%<.)'("6+%T'?/(
"?&#-?-(>'$"%?->'0'##%&'3'%H#-(3-.%?'$"1%0-#/?%$-?&/.('+%R<<#G><<#%5'()%3"$-3"'6'(
?'$"1%>-.0'>'$+%M'$"#">'$%"("%?'$"1%>-./$%3"6-?0'()6'(%&'3'%L-.$"GL-.$"%$-#'(2/>(5'+
D-(3'>"%3-?"6"'(%0-.?'"(G?'"(%3-()'(%='$"#">'$%?->'0'##%&'3'%H#-(3-.%&-(/#"$%.'$'6'(
A/6/&%?-(5-('()6'(C%*'#'/&/(%0-#/?%0"$'%3")/('6'(%$-A'.'%?'6$"?'#%/(>/6
?-?0-(>/6%?<3-#%5'()%6<?&#-6$+%H"$'%2/)'%3")/('6'(%/(>/6%0-.(<$>'#)"'%?'$'%6-A"#
3/#/%$-*'6>/%?'$"1%)-?'.%0-.?'"(G?'"(%3-()'(%#"#"(%?'"('(%:J+

             8-()'(%$-)'#'%6-6/.'()'((5'C%/(>/6%&.<$-$%'("?'$"%?->'0'##%0"$'%?-(2'3"
$-0/'1%><<#%5'()%&<*-.=/#%61/$/$(5'%/(>/6%?-(A"&>'6'(%'("?'$"%A'".'(+%,-(/#"$%?-.'$'
0'1*'%$->-#'1%?-?&-#'2'."%H#-(3-.%4(3'%>"3'6%'6'(%?-(-?/"%6-$/#">'(%3'#'?
?-#'6/6'(%?<3-#"()%3-()'(%?->'0'##%$-1"())'%>"3'6%&-.#/%3"0'1'$%$-A'.'%?-(3->'"#%3"
0/6/%"("+
J*&$5$..%)$#$%?.*"#*+

<;Y;Q]()9#c%b8G1&%3.$%&()F.*#

               O(>/6%A/.L-C%TO!H;%BT<(GO("=<.?%!'>"<('#%HG;&#"(-$JC%3'(%$/.='A-C
='$"#">'$%"("%$/3'1%>-.0"#'()%/?/?%3")/('6'(%&'3'%$<=>*'.-G$<=>*'.-%#'"((5'+
,-())/(''(%A/.L-%3'(%$/.='A-%&'3'%H#-(3-.%>"3'6%2'/1%0-.0-3'%3-()'(%6-0'(5'6'(
$<=>*'.-%'("?'$"%#'"((5'C%?'6'%3'."%">/%0')"%4(3'%5'()%>-.0"'$'%?-#'6/6'(%?<3-#"()
3-()'(%A/.L-%>"3'6%'6'(%?-(-?/"%6-$/#">'(%?-#'6/6'(%?<3-#"()%3"%H#-(3-.+

             D-#-0"1'(%/>'?'%?<3-#"()%3-()'(%A/.L-%2"6'%3"0'(3"()6'(%3-()'(%?-$1
'3'#'1%3-()'(%A/.L-%3'>'%5'()%3"$"?&'(%3'#'?%?-?<.5%#-0"1%$-3"6">C%1'$"#%5'()
3"0-."6'(%A/6/&%0'"6%3"0'(3"()6'(%3-()'(%?-$1+%H-0-.'&'%<.'()%?-()'>'6'(%?<3-#"()
3-()'(%A/.L-%#-0"1%A-&'>%3"0'(3"()6'(%3-()'(%?-$1%?<3-#"()%B0<%?<3-#"()C%='A-%05
='A-C%3$0J+%R->'&"%">/%>-.)'(>/()%&'3'%&-())/('(5'C%>-6("6%?'('%5'()%#-0"1%3"6/'$'"%3'(
3"$/6'"+

              Q'(5'%$'2'%6-6/.'()'(%5'()%$'()'>%2-#'$%3'."%A/.L-%?<3-#"()%'3'#'1%$'()'>
$/#">%?-('?0'16'(%3->'"#%5'()%6<?&#-6$%&'3'%?<3-#+%,'3'%'61".(5'%2"6'%4(3'%"()"(
?-('?0'16'(%3->'"#%?'/%>"3'6%?'/%/(>/6%3'&'>%3-()'(%?/3'1%?-#'6/6'((5'%1'./$
?-()A<(L-.>%$-0/'1%?<3-#%$/.='A-%6-%?-$1%3'(%0-6-.2'%3-()'(%?-$1%/(>/6
?-('?0'16'(%3->'"#G3->'"#%>-.$-0/>+%R-.#-0"1%#')"%?<3-#G?<3-#%5'()%3"0-(>/6%3-()'(
A/.L-%>"3'6%-="$"-(%/(>/6%'&#"6'$"%78%"(>-.'6>"=%6'.-('%2/?#'1%&<#5)<(%5'()%>-.0-(>/6
$'()'>%$/#">%/(>/6%3"6-(3'#"6'(+%E'6'%3'."%">/%3'#'?%?-?0'1'$%?<3-#"()%0/6/%"("
>-.=<6/$%&'3'%='$"#">'$%?-$1?<3-#"()+
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01
Blenderbookv01

Más contenido relacionado

La actualidad más candente

Materializing Energy
Materializing EnergyMaterializing Energy
Materializing EnergyJames Pierce
 
Introduction Open Science STS Course 2015
Introduction Open Science STS Course 2015Introduction Open Science STS Course 2015
Introduction Open Science STS Course 2015Katja Mayer
 
Young Lions Media 2011 / SPYL509
Young Lions Media 2011 / SPYL509Young Lions Media 2011 / SPYL509
Young Lions Media 2011 / SPYL509Vane Marín
 
One planet action plan sustainability toolkit
One planet action plan sustainability toolkitOne planet action plan sustainability toolkit
One planet action plan sustainability toolkitActionGood
 
Slimmer werken aan zorgdossiers in organisaties
Slimmer werken aan zorgdossiers in organisatiesSlimmer werken aan zorgdossiers in organisaties
Slimmer werken aan zorgdossiers in organisatiesJos Arets
 
Doa dan-dzikir-pilihan
Doa dan-dzikir-pilihanDoa dan-dzikir-pilihan
Doa dan-dzikir-pilihanRidas Zabbarae
 
Proactief Netwerken
Proactief NetwerkenProactief Netwerken
Proactief NetwerkenJan Jacobs
 
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...Flávio Radamarker, RDI
 
Isis Cybera Summit 2009
Isis Cybera Summit 2009Isis Cybera Summit 2009
Isis Cybera Summit 2009Cybera Inc.
 

La actualidad más candente (16)

Materializing Energy
Materializing EnergyMaterializing Energy
Materializing Energy
 
Vietnam market trend 2020 (Jan - Dec 2020)
Vietnam market trend 2020 (Jan - Dec 2020)Vietnam market trend 2020 (Jan - Dec 2020)
Vietnam market trend 2020 (Jan - Dec 2020)
 
Introduction Open Science STS Course 2015
Introduction Open Science STS Course 2015Introduction Open Science STS Course 2015
Introduction Open Science STS Course 2015
 
A new step forward in composites mass production - Highlight
A new step forward in composites mass production - HighlightA new step forward in composites mass production - Highlight
A new step forward in composites mass production - Highlight
 
Young Lions Media 2011 / SPYL509
Young Lions Media 2011 / SPYL509Young Lions Media 2011 / SPYL509
Young Lions Media 2011 / SPYL509
 
Vietnam social media popularity & characteristics
Vietnam social media popularity & characteristicsVietnam social media popularity & characteristics
Vietnam social media popularity & characteristics
 
Cores e Sensações no Varejo
Cores e Sensações no VarejoCores e Sensações no Varejo
Cores e Sensações no Varejo
 
One planet action plan sustainability toolkit
One planet action plan sustainability toolkitOne planet action plan sustainability toolkit
One planet action plan sustainability toolkit
 
Raising performance with benzoxazine resins - Highlight
Raising performance with benzoxazine resins - HighlightRaising performance with benzoxazine resins - Highlight
Raising performance with benzoxazine resins - Highlight
 
Slimmer werken aan zorgdossiers in organisaties
Slimmer werken aan zorgdossiers in organisatiesSlimmer werken aan zorgdossiers in organisaties
Slimmer werken aan zorgdossiers in organisaties
 
Doa dan-dzikir-pilihan
Doa dan-dzikir-pilihanDoa dan-dzikir-pilihan
Doa dan-dzikir-pilihan
 
Proactief Netwerken
Proactief NetwerkenProactief Netwerken
Proactief Netwerken
 
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
Fachada - O verdadeiro cartão de visita de uma loja. Artigo para a Edição 452...
 
Vietnam language learning behaviors
Vietnam language learning behaviorsVietnam language learning behaviors
Vietnam language learning behaviors
 
Vietnamese expectation for tet 2022
Vietnamese expectation for tet 2022Vietnamese expectation for tet 2022
Vietnamese expectation for tet 2022
 
Isis Cybera Summit 2009
Isis Cybera Summit 2009Isis Cybera Summit 2009
Isis Cybera Summit 2009
 

Destacado

Hector varlencia _reciclaje_ponencia-1
Hector varlencia _reciclaje_ponencia-1Hector varlencia _reciclaje_ponencia-1
Hector varlencia _reciclaje_ponencia-1Daniela Alomia
 
Diccionario informatico
Diccionario informaticoDiccionario informatico
Diccionario informaticomdianamp
 
Actividad en clase
Actividad en claseActividad en clase
Actividad en clasedalis.romero
 
09 tema 3 - arte mesopotámico.
09 tema 3 - arte mesopotámico.09 tema 3 - arte mesopotámico.
09 tema 3 - arte mesopotámico.Dickson E Leon
 
Propuesta de investigacion
Propuesta de investigacionPropuesta de investigacion
Propuesta de investigacionSneider Cagua
 
Apuntes de fundamentos de programacion 2
Apuntes de fundamentos de programacion 2Apuntes de fundamentos de programacion 2
Apuntes de fundamentos de programacion 2Danthe Garcia
 
Guía de ciclismo urbano
Guía de ciclismo urbanoGuía de ciclismo urbano
Guía de ciclismo urbanoericksalazar97
 
Oferta apartamentos costa de galicia fin de año
Oferta apartamentos costa de galicia fin de añoOferta apartamentos costa de galicia fin de año
Oferta apartamentos costa de galicia fin de añoEnrique Pérez Sampedro
 
Partcipación en el foro power
Partcipación en el foro powerPartcipación en el foro power
Partcipación en el foro powerEryca Perez
 
Seguridad en las redes
Seguridad en las redesSeguridad en las redes
Seguridad en las redesRomina Sanchez
 
Propuesta pedagogica
Propuesta pedagogicaPropuesta pedagogica
Propuesta pedagogicasaluba
 

Destacado (20)

Hector varlencia _reciclaje_ponencia-1
Hector varlencia _reciclaje_ponencia-1Hector varlencia _reciclaje_ponencia-1
Hector varlencia _reciclaje_ponencia-1
 
Mercurio
MercurioMercurio
Mercurio
 
Diccionario informatico
Diccionario informaticoDiccionario informatico
Diccionario informatico
 
Ok!!!
Ok!!!Ok!!!
Ok!!!
 
Actividad en clase
Actividad en claseActividad en clase
Actividad en clase
 
La moda
La modaLa moda
La moda
 
09 tema 3 - arte mesopotámico.
09 tema 3 - arte mesopotámico.09 tema 3 - arte mesopotámico.
09 tema 3 - arte mesopotámico.
 
Propuesta de investigacion
Propuesta de investigacionPropuesta de investigacion
Propuesta de investigacion
 
exposición #1
exposición #1exposición #1
exposición #1
 
Apuntes de fundamentos de programacion 2
Apuntes de fundamentos de programacion 2Apuntes de fundamentos de programacion 2
Apuntes de fundamentos de programacion 2
 
Guía de ciclismo urbano
Guía de ciclismo urbanoGuía de ciclismo urbano
Guía de ciclismo urbano
 
Silvia mulero
Silvia muleroSilvia mulero
Silvia mulero
 
Oferta apartamentos costa de galicia fin de año
Oferta apartamentos costa de galicia fin de añoOferta apartamentos costa de galicia fin de año
Oferta apartamentos costa de galicia fin de año
 
Partcipación en el foro power
Partcipación en el foro powerPartcipación en el foro power
Partcipación en el foro power
 
OpenBadges
OpenBadgesOpenBadges
OpenBadges
 
escrito plano castro
escrito plano castroescrito plano castro
escrito plano castro
 
Seguridad en las redes
Seguridad en las redesSeguridad en las redes
Seguridad en las redes
 
25
2525
25
 
Propuesta pedagogica
Propuesta pedagogicaPropuesta pedagogica
Propuesta pedagogica
 
eqm Edson Manuel Lopez
eqm Edson Manuel Lopezeqm Edson Manuel Lopez
eqm Edson Manuel Lopez
 

Similar a Blenderbookv01

Oisin Lunny OpenMarket IoF National Convention 2014
Oisin Lunny OpenMarket IoF National Convention 2014Oisin Lunny OpenMarket IoF National Convention 2014
Oisin Lunny OpenMarket IoF National Convention 2014Oisin Lunny
 
Bio Startup Spinoff 2010
Bio Startup Spinoff 2010Bio Startup Spinoff 2010
Bio Startup Spinoff 2010Servadio
 
Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería Formastur
 
Guardian Changing Media Summit - Mobile In Focus
Guardian Changing Media Summit - Mobile In FocusGuardian Changing Media Summit - Mobile In Focus
Guardian Changing Media Summit - Mobile In FocusOisin Lunny
 
Pet stain removal fort lauderdale with the best carpet cleaning company
Pet stain removal fort lauderdale with the best carpet cleaning companyPet stain removal fort lauderdale with the best carpet cleaning company
Pet stain removal fort lauderdale with the best carpet cleaning companyAbsolute Best Carpet Cleaners
 
Varias formas de se ver uma loja Artigo para a Revista Dirigente Lojista
Varias formas de se ver uma loja Artigo para a Revista Dirigente LojistaVarias formas de se ver uma loja Artigo para a Revista Dirigente Lojista
Varias formas de se ver uma loja Artigo para a Revista Dirigente LojistaFlávio Radamarker, RDI
 
Addiction treatments brochure
Addiction treatments brochureAddiction treatments brochure
Addiction treatments brochureTaras Kuzin
 
Curriculum
CurriculumCurriculum
Curriculumhheyrman
 
Magazine Anim Art
Magazine Anim ArtMagazine Anim Art
Magazine Anim ArtStudent
 
Autoretail - marca mamashop
Autoretail - marca mamashopAutoretail - marca mamashop
Autoretail - marca mamashopRicardo Rimoldi
 
Paradise Renewables Brochure V3
Paradise Renewables Brochure  V3Paradise Renewables Brochure  V3
Paradise Renewables Brochure V3Timothy Bybee
 
2010 UCLA State Farm Plans Book
2010 UCLA State Farm Plans Book2010 UCLA State Farm Plans Book
2010 UCLA State Farm Plans BookChristine Takaichi
 
Lessons RN labor union learned using social media in 2010
Lessons RN labor union learned using social media in 2010Lessons RN labor union learned using social media in 2010
Lessons RN labor union learned using social media in 2010LinkedIn Riches
 
Wikimedia UK Keynote Presentation
Wikimedia UK Keynote Presentation Wikimedia UK Keynote Presentation
Wikimedia UK Keynote Presentation Ollie Bray
 
Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)marie93
 
Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)Nsn07
 

Similar a Blenderbookv01 (20)

Oisin Lunny OpenMarket IoF National Convention 2014
Oisin Lunny OpenMarket IoF National Convention 2014Oisin Lunny OpenMarket IoF National Convention 2014
Oisin Lunny OpenMarket IoF National Convention 2014
 
Bio Startup Spinoff 2010
Bio Startup Spinoff 2010Bio Startup Spinoff 2010
Bio Startup Spinoff 2010
 
Seminar@TU/e 2010 - Montali - Business Constraint Monitoring and Operational ...
Seminar@TU/e 2010 - Montali - Business Constraint Monitoring and Operational ...Seminar@TU/e 2010 - Montali - Business Constraint Monitoring and Operational ...
Seminar@TU/e 2010 - Montali - Business Constraint Monitoring and Operational ...
 
Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería Consultoría y Formación Turismo y Hotelería
Consultoría y Formación Turismo y Hotelería
 
Guardian Changing Media Summit - Mobile In Focus
Guardian Changing Media Summit - Mobile In FocusGuardian Changing Media Summit - Mobile In Focus
Guardian Changing Media Summit - Mobile In Focus
 
Pet stain removal fort lauderdale with the best carpet cleaning company
Pet stain removal fort lauderdale with the best carpet cleaning companyPet stain removal fort lauderdale with the best carpet cleaning company
Pet stain removal fort lauderdale with the best carpet cleaning company
 
Varias formas de se ver uma loja Artigo para a Revista Dirigente Lojista
Varias formas de se ver uma loja Artigo para a Revista Dirigente LojistaVarias formas de se ver uma loja Artigo para a Revista Dirigente Lojista
Varias formas de se ver uma loja Artigo para a Revista Dirigente Lojista
 
Addiction treatments brochure
Addiction treatments brochureAddiction treatments brochure
Addiction treatments brochure
 
IBC_Profile
IBC_ProfileIBC_Profile
IBC_Profile
 
Curriculum
CurriculumCurriculum
Curriculum
 
Electric car perception in Vietnam.pdf
Electric car perception in Vietnam.pdfElectric car perception in Vietnam.pdf
Electric car perception in Vietnam.pdf
 
Magazine Anim Art
Magazine Anim ArtMagazine Anim Art
Magazine Anim Art
 
Neal Lesh
Neal LeshNeal Lesh
Neal Lesh
 
Autoretail - marca mamashop
Autoretail - marca mamashopAutoretail - marca mamashop
Autoretail - marca mamashop
 
Paradise Renewables Brochure V3
Paradise Renewables Brochure  V3Paradise Renewables Brochure  V3
Paradise Renewables Brochure V3
 
2010 UCLA State Farm Plans Book
2010 UCLA State Farm Plans Book2010 UCLA State Farm Plans Book
2010 UCLA State Farm Plans Book
 
Lessons RN labor union learned using social media in 2010
Lessons RN labor union learned using social media in 2010Lessons RN labor union learned using social media in 2010
Lessons RN labor union learned using social media in 2010
 
Wikimedia UK Keynote Presentation
Wikimedia UK Keynote Presentation Wikimedia UK Keynote Presentation
Wikimedia UK Keynote Presentation
 
Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)
 
Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)Sportsmanship!learn how to_be_respectful!_)
Sportsmanship!learn how to_be_respectful!_)
 

Más de whiedhie

Digital painting dg_photoshop_slametr
Digital painting dg_photoshop_slametrDigital painting dg_photoshop_slametr
Digital painting dg_photoshop_slametrwhiedhie
 
Budidaya ikan perairan sumsel
Budidaya ikan perairan sumselBudidaya ikan perairan sumsel
Budidaya ikan perairan sumselwhiedhie
 
Blenderbookv01 2
Blenderbookv01 2Blenderbookv01 2
Blenderbookv01 2whiedhie
 
Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2whiedhie
 
Blenderbookv01 2
Blenderbookv01 2Blenderbookv01 2
Blenderbookv01 2whiedhie
 
Blenderbookv01
Blenderbookv01Blenderbookv01
Blenderbookv01whiedhie
 
Special project melukis digital
Special project melukis digitalSpecial project melukis digital
Special project melukis digitalwhiedhie
 
Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2whiedhie
 

Más de whiedhie (10)

Ka 43
Ka 43Ka 43
Ka 43
 
Digital painting dg_photoshop_slametr
Digital painting dg_photoshop_slametrDigital painting dg_photoshop_slametr
Digital painting dg_photoshop_slametr
 
Budidaya ikan perairan sumsel
Budidaya ikan perairan sumselBudidaya ikan perairan sumsel
Budidaya ikan perairan sumsel
 
Blenderbookv01 2
Blenderbookv01 2Blenderbookv01 2
Blenderbookv01 2
 
349d7
349d7349d7
349d7
 
Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2
 
Blenderbookv01 2
Blenderbookv01 2Blenderbookv01 2
Blenderbookv01 2
 
Blenderbookv01
Blenderbookv01Blenderbookv01
Blenderbookv01
 
Special project melukis digital
Special project melukis digitalSpecial project melukis digital
Special project melukis digital
 
Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2Perkembangan kegiatan budidaya ikan 2
Perkembangan kegiatan budidaya ikan 2
 

Blenderbookv01

  • 1.
  •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
  •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
  • 4. J$($%)$#$%$(6'+"3$%7$3$%)4"%&*+#2+2"0%4"&4(%,*"125$%,*"4.'7%7*54$6 54(4%3$"0%5'7$%,*"3$'"0'%(4$.'&$7%'7'%54(4854(4%3$"0%$#$%#'%)$7$+$"%#$"%,*"04$( (*(4$&$"%5.*"#*+%(*)$#$%(2,4"'&$7%$"',$7'%#'%'"#2"*7'$%$0$+%&'#$(%,*+*,*6($" 72;&B$+*872;&B$+*%7*)*+&'%'"'9 O$.4%,*"0$)$%54(4%'"'%7$3$%*#$+($"%7*1$+$%0+$&'7Q%P*,$"%7$3$%7*"#'+' (*&'($%7$3$%1*+'&$($"%,*"0*"$'%54(4%'"'%$0$(%&*+(*-4&%#$"%,*"0$&$($"%7$3$%52#26 ,*"0*#$+($"%54(4%'"'%7*1$+$%0+$&'79 F*-4-4+"3$/%,*,$"0%)$#$%$B$."3$%7$3$%,*,$"0%5*+*"1$"$%4"&4( ,*"0'+',%54(4%'"'%(*%)*"*+5'&9%R4(4)%74.'&%#$"%,*"06$5'7($"%5$"3$(%B$(&4%:7$3$%,4.$' ,*"4.'7%54(4%'"'%)$#$%$(6'+%S2A*,5*+%TUUM<%4"&4(%,*"3474"%54(4%'"'%&*+.*5'6%.$0' 4"&4(%,*,5*#$6%?.*"#*+%.*5'6%#$.$,/%-$#'%(*"$)$%7$3$%7*52#26%'"'%,*,4&47($"%4"&4( ,*.*)$7%)+23*(%3$"0%&*.$6%,*"06$5'7($"%B$(&4%7$3$%5*+54.$"854.$"%5*0'&4%7$-$Q V*.*68B*.*6/%)$7&'%$#$%4#$"0%#'%#$.*,%5$(B$"%E</%,4"0('"%'&4%3$"0%)*+&$,$%($.' ,4"14.%#'%5*"$(%!"#$9 !.$7$"%)*+&$,$%$#$.$6%;'.*%)+23*(%54(4%'"'%6'.$"0%($+*"$%)$+&'7'%6$+##'7( 3$"0%+47$(%($+*"$%(*1*+2526$"%7$3$%7*"#'+'%#$.$,%,*"04&$(%$&'(%)$+&'7'%#$.$, 6$+##'7(%7$3$9%F$3$%&*.$6%,*.$(4($"%5$1(4)%"$,4"%5$1(4)%7$3$%.$(4($"%4"&4(%&'$) 5*5*+$)$%B$(&4%7*($.'%#$"%#$&$%3$"0%&*.$6%7$3$%5$1(4)%#*"0$"%3$"0%6'.$"0%14(4)%-$46 )*+5*#$$""3$9% F$3$%5*"$+85*"$+%7$"0$&%(*7$.%#*"0$"%(*-$#'$"%'"'9%D'($%7$3$%,*"04.$"0 7*.4+46%)*(*+-$$"%3$"0%6'.$"0%&*+7*54&%$($"%,*,$($"%B$(&4%3$"0%14(4)%.$,$%#$" ?.*"#*+%7*,$('"%.$,$%$($"%7*,$('"%#'(*&$64'%2+$"0%7*6'"00$%54(4%'"'%$($"%(*6'.$"0$" 2+'7'"$.'&$7%#$"%)*,5$6$7$"%54(4%'"'%&*.$6%K(*&'"00$.$"%-$,$"K%-'($%#'&*+5'&($"%7*1$+$ (2,*+7'$.9%?$0$',$"$)4"%7*&'#$("3$%7$3$%,*"#$)$&%)*.$-$+$"%5*+6$+0$%#$+'%7'"'9 F*.$'"%'&4%7$3$%-40$%&*.$6%5*+5'1$+$%(*)$#$%5*5*+$)$%)*+B$('.$"%)*"*+5'&/ ,*"1$+'81$+'%'";2+,$7'%)*+73$+$&$"%)*"3*+$6$"%"$7($6%#$"%7*5$0'$"%5*7$+%#$+'%,*+*($ 6$"3$%,*"0'"0'"($"%54(4%#*"0$"%,$&*+'%)$.'"0%5$+49%F*#$"0($"%7$3$%&*&$)%5*+7'(4(46 ,*.$(4($"%)*,5$6$7$"%&*+6$#$)%?.*"#*+%G45.'76*+%:T9TW<%B$.$4)4"%)$#$%7$$& )*"4.'7$"%54(4%'"'%74#$6%5*+*#$+%A*+7'%:T9MX<%($+*"$%7$3$%-40$%'"0'"%,*,5$6$7%;$7'.'&$7 0$,*%*"0'"*%3$"0%6$"3$%&*+7*#'$%)$#$%A*+7'%G45.'76*+9 ?*.$($"0$"%7$3$%,*"0*-$+%,*"3*.*7$'($"%54(4%'"'%&*+.*5'6%.$0'%(*&'($%7$3$ ,*,5$1$%7*54$6%,$-$.$6%(2,)4&*+%5*+*"1$"$%,*"0*.4$+($"%&4&2+'$.%,2A'*%&*"&$"0 ?.*"#*+%#$"%7$3$%&'#$(%,$4%(*#4.4$"%2.*6%,$-$.$6%&*+7*54&9%N*"0$"%6'.$"0"3$%#$&$8 #$&$%)$#$%6$+##'7(%7$3$/%7$3$%&'#$(%,4"0('"%,*"0*-$+%(*&'"00$.$"%7$3$%#$" 5*.$($"0$"%7$3$%7*,$('"%5$"3$(%,*.'6$&%?.*"#*+%&*.$6%#'5$6$7%#'%5*+5$0$'%,$-$.$6 #$"%&$5.2'#%(2,)4&*+9 J$($%#$+')$#$%54(4%'"'%&*+7',)$"%#$.$,%RN%5$1(4)%7$3$%&$")$%,*,5*+' ,$";$$&%$)$8$)$%(*)$#$%7'$)$)4"%#$"%)$#$%$(6'+"3$%6$"3$%&*+&4&4)%2.*6%#*54/%7$3$ ,*,4&47($"%4"&4(%,*.*)$7"3$%(*%)45.'(%7*1$+$%0+$&'7%#*"0$"%6$+$)$"%5'7$%,*,5$"&4 ,*+*($%3$"0%'"0'"%,*,)*.$-$+'%$"',$7'%$&$4%,*"1$+'%$.&*+"$&';%72;&B$+*%.*0$.%4"&4( )+23*(8)+23*(%$"',$7'%,*+*($9
  •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
  •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
  •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
  •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
  •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`%3"61/$/$6'(%0')"%4(3'%5'()%0-#/?%&-.('1%?-())/('6'(%$<=>*'.-%78 B_J%% $-0-#/?(5'%'>'/%?'$"1%0-#/?%?-()-('#%6<($-&G6<($-&%3'#'?%$<=>*'.-%78+%H')"%4(3' 5'()%?-.'$'%$/3'1%0-.&-()'#'?'(%?-())/('6'(%$<=>*'.-%78%3'&'>%#'()$/() ?-#'(2/>6'(%6-%0'0%P+P+
  •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aC%b%3'(%c+%Y"6'%&'3'%0"3'()%P%3"?-($"%4(3'%1'(5'%3'&'>%?-())-.'66'( <02-6%>-.$-0/>%6-%$'?&"()%6'('(%3'(%6"."%BaJC%'>'$%3'(%0'*'1%BbJC%3'#'?%./'()%78%$-#'"( 3'&'>%3")-.'66'(%6-%$'?&"()%6'('(%3'(%6"."%<02-6%2/)'%3'&'>%3")-.'66'(%6-%3-&'(%3'(%6- 0-#'6'()%BcJ+ TN%#$"%MN
  • 11. 8"%3'#'?%3/("'%6<?&/>-.%).'="$%3"6-('#%P%?'A'?%=<.?'>%).'="6%P3%5'() />'?'C%5'">/%L-A><.%3'(%0">?'&+%,-.0-3''(%'(>'.'%L-A><.%3'(%0">?'&%'3'#'1%2"6'%&'3' 0">?'&%)'?0'.%3"1'$"#6'(%3-()'(%?-())/('6'(%6/?&/#'(%>">"6G>">"6%B&"-#$J%5'()%$'#"() 0-.3-?&->%1"())'%?-?-(/1"%$-0/'1%0"3'()%3-()'(%*'.('G*'.('%5'()%0-.0-3'%&'3' &<$"$"%>-.>-(>/%$-1"())'%?-('?&"#6'(%$-0/'1%A">.'%B$-&-.>"%)'?0'.%0-.=<.?'>%2&-)%'>'/ )"=%5'()%$-."()%4(3'%>-?/"J+% ;-3'()6'(%&'3'%)'?0'.%3-()'(%=<.?'>%L-6><.%"(=<.?'$"%)'?0'.%#-0"1 3">-(>/6'(%&'3'%0-0-.'&'%)'."$%3'(%>">"6%&-(>"()%$'2'+%E'6'%3'."%">/%&'3'%$<=>*'.-%$-&-.>" ^<.-#%8.'*%&-*'.(''(%$-0/'1%<02-6%1'(5'%3'&'>%3"#'6/6'(%&'3'%6/.L'%>-.>/>/&%$'2'+ ,-.0-3''(%5'()%$'()'>%?-(<(2<#%3"'(>'.'%6-3/'(5'%'3'#'1%)'?0'.%L-A><. >"3'6%.-$<#/>"<(%3-&-(3-(>+%4.>"(5'%0-.'&'%6'#"&/(%)'?0'.%L-A><.%3"&-.0-$'.%A">.'%5'() 3"1'$"#6'(%>"3'6%0-./0'1%3'(%>->'&%1'#/$+%;-3'()6'(%&'3'%)'?0'.%0">?'&C%2"6'%4(3' ?-?&-.0-$'.(5'%P%6'#"%$'2'%4(3'%3'&'>%?-#"1'>%)'?0'.%>-.$-0/>%?-(2'3"%0-.6-$'( 0-.6<>'6G6<>'6%3'(%6'$'.%B&"-#'>-3J+% H-0-.'&'%A<(><1%$<=>*'.-%).'="$%5'()%?-())/('6'(%=<.?'>%0">?'& 3"'(>'.'(5'%E"A.<$<=>%,'"(>C%43<0-%,1<><$1<&C%%^<.-#%,1<><%,'"(>%3'(%E'A.<?-3"' M".-*<.6$%%$-3'()6'(%A<(><1%$<=>*'.-%5'()%?-())/('6'(%).'="$%L-A><.%'3'#'1%^<.-# 8.'*C%E'A.<?-3"'%M.--1'(3%3'(%43<0-%I##/$>.'><.+%D<($-&%5'()%3")/('6'(%&'3' $<=>*'.-%78%$-3"6">%?"."&%3-()'(%6<($-&%)'?0'.%L-6><.C%%<02-6%3'#'?%$<=>*'.-%78%>"3'6 .-$<#/>"<(%3-&-(3-(>C%%1'(5'%$'2'%<02-6%5'()%3"0-(>/6%3'#'?%$<=>*'.-%78%>-(>/(5' ?-?"#"6"%./'()+ 8'#'?%$<=>*'.-%78%/?/?(5'%>"'&G>"'&%<02-6%?-?"#"6"%$/0G<02-6N-#-?-(G -#-?-(%5'()%?-?0-(>/6%3"."(5'+%F#-?-(G-#-?-(%>-.$-0/>%'3'#'1%9#)/#RC%#3O#C%F.*#+ S-.>-%'3'#'1%$-0/'1%>">"6%5'()%>-.#->'6%&'3'%6<<.3"('>%aC%b%3'(%c%>-.>-(>/+%P%L-.>-%2"6' 3"1/0/()6'(%'6'(%?-?0-(>/6%$-0/'1%-3)-+%S-.>-%3'#'?%0-(>/6%2'?'6%B0-.2/?#'1%#-0"1 3'."%`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
  • 12. _*+&*X/%=#0*%#$"%^$1* ;-&-.>"%&'3'%3/("'%(5'>'C%>"'&%<02-6%>-.0/'>%3'."%0'1'(%>-.>-(>/%B?->'#C%6'5/C 6'"(C%3$0J%3'(%>"'&G>"'&%0'1'(%>-.$-0/>%?-?"#"6"%0-.0')'"%$"='>%>-.$-(3"."%'&'6'1%0-.*'.(' ?-.'1C%0-.*'.('%1">'?C%0-.>->/.%6'$'.%'>'/%1'#/$C%?-()6"#'&%'>'/%>"3'6+%,'3'%$<=>*'.- 78%/(>/6%?-($"?/#'$"6'(%$"='>%0'1'(%$-0/'1%<02-6%3")/('6'(%-./#),.2%B$-$/'"%3-()'( '.>"%6'>'%>-.$-0/>%5'">/%0'1'(J+ 5*5*+$)$%12"&26%,$&*+'$.%%#$+'%,$&*+'$.%.'5+$+3%MN%F&4#'2%J$X%:N'71+**&<% D-?/3"'(%2"6'%4(3'%?-#"1'>%6-?'$'(%?'6'('(%3-()'(%>/#"$'(%'>'/%)'?0'. &'3'%0')"'(%3-&'((5'%&'3'%$<=>*'.-%78%1'#%"("%0"'$'(5'%3"#'6/6'(%3-()'(%/#R/()#%-."+ R->/.-%?'&%'3'#'1%)'?0'.%B0"'$'(5'%0-.=<.?'>%0">?'&J%5'()%Z3">-?&-#6'(Z%&'3'%<02-6 78%5'()%0-.$'()6/>'(+%8"$"("#'1%4(3'%3">/(>/>%?-?"#"6"%6-?'?&/'(%?-())'?0'.+ T'?/(%3'#'?%&-()-.2''(%'("?'$"%78%0"'$'(5'%3"#'6/6'(%3'#'?%$-0/'1%>-'?+%43'%5'() ?-('()'("%?<3-#"()C%'("?'$"%3'(%>->/.-%?'&+%,.<$-$%&-()-.2''(%>->/.-%?'&%0"'$' 3"$-0/>%3-()'(%&.<$-$%/#R/(),$O;%^<(><1%>-.0'"6%&-())/(''(%>->/.-%?'&%3'&'>%4(3' #"1'>%&'3'%)'?-G)'?-%78+%E"$'#(5'%6'.'6>-.%3'#'?%)'?-%d/'6-C%6<(>/.%<><>%3'(%*'2'1 3">'?&"#6'(%3-()'(%)'?0'.%P8%5'()%3">-?&-#6'(%&'3'%?<3-#%78+ ;-#'(2/>(5'%/(>/6%'("?'$"C%>-6("6%'("?'$"%&'3'%$<=>*'.-%78%0-.0-3' 3-()'(%'("?'$"%>.'3"$"<('#%5'()%?-())/('6'(%>-6("6%?'(/'#+%,'3'%'("?'$"%>.'3"$"<('# >"'&%)-.'6'(%1'./$%3")'?0'.%&-.%=.'?-C%3"?'('%&'3'%>"'&%=.'?-%<02-6%5'()%3")'?0'. #->'6%'>'/%0-(>/6(5'%0-./0'1%$-3"6">%3-?"%$-3"6">%$-1"())'%2"6'%3"&-.#"1'>6'(%$-A'.' 0-.)'(>"'(%3-()'(%A-&'>%3'(%0-././>'(%'6'(%?-?0-."6'(%6-$'(%$-<#'1G<#'1%<02-6%">/
  •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`%6-%6"#<?->-.%P%C%?'6'%&'3'%'("?'$"%?'(/'#%1'./$%3")'?0'.6'(%0<#'%&'3' &<$"$"%6"#<?->-.%`C%6"#<?->-.%`%`N7C%6"#<?->-.%`%PN7C%3'(%$->-./$(5'%1"())'%$'?&'"%&'3' &<$"$"%6"#<?->-.%P+%8-()'(%6<($-&%6-5=.'?-C%4(3'%1'(5'%&-.#/%?-?0-."%3/'%>">"6%6/(A" $-*'6>/%0<#'%0-.'3'%&'3'%&<$"$"%6"#<?->-.%`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
  •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`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
  •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
  •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`eff%R<(%!<<$-(3''#%?-(3'('" &-./$'1''(%5'()%0-.)-.'6%3"%0"3'()%'("?'$"%5'()%3"('?'6'(%T-<K-<+%T-<K-< 0-.6-?0'()%3-()'(%&-$'>%$-1"())'%?-(2'3"%&-./$'1''(%'("?'$"%>-.0-$'.%3"%H-#'(3'%3'( $'#'1%$'>/%&-./$'1''(%'("?'$"%>-.3-&'(%3"%F.<&'+%R<(%!<<$-(3''#%$-#'"(%0-.>'())/() 2'*'0%$-0')'"%4.>%3".-A><.%"'%2/)'%0-.>'())/()%2'*'0%'>'$%&-()-?0'()'(%$<=>*'.- "(>-.('#+% ,'3'%>'1/(%`eeg%?/(A/##'1%$-0/'1%$<=>*'.-%5'()%&'3'%'61".(5'%3"('?'6'( H#-(3-.+%;->-#'1%3"'?'>"%>-.(5'>'%H#-(3-.%?-?"#"6"%&<>-($"%/(>/6%3")/('6'(%<#-1%'.>"$G '.>"$%3"#/'.%T-<K-<+%W'#/%&'3'%>'1/(%`eef%R<(%?-(3"."6'(%&-./$'1''(%5'()%0-.('?' T<>%'%T/?0-.%BT'TJ%/(>/6%?-()-?0'()6'(%3'(%?-?'$'.6'(%H#-(3-.%#-0"1%2'/1+%^">'G A">'%T'T%'3'#'1%/(>/6%?-(A"&>'6'(%$-0/'1%$<=>*'.-%'("?'$"%78%5'()%&'3'>C%A.<$$ &#'>=<.?%5'()%).'>"$%3'(%3'&'>%3")/('6'(%<#-1%?'$5'.'6'>%6<?&/>-.%5'()%/?/?+ ;'5'()(5'%'?0"$"%T'T%>"3'6%$-$/'"%3-()'(%6-(5'>''(%&'$'.%$''>%">/+%R'1/( P99`%T'T%3"0-(>/6%/#'()%?-(2'3"%&-./$'1''(%5'()%#-0"1%6-A"#+%T'T%#'#/%?-#/(A/.6'( $<=>*'.-%6<?-.$"'#%&-.>'?'(5'C%H#-(3-.%,/0#"$1-.+%;'$'.'(%&'$'.%$<=>*'.-%"("%'3'#'1 /(>/6%*-0%78%"(>-.'6>"=+%4()6'%&-(2/'#'(%5'()%.-(3'1%3'(%"6#"?%-6<(<?"%5'()%>"3'6 ?-()/(>/()6'(%$''>%">/%?-()'6"0'>6'(%T'T%3">/>/&+%,-(/>/&'(%"("%>-.?'$/6 &-()1-(>"'(%>-.1'3'&%&-()-?0'()'(%H#-(3-.+%
  •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aC%M.--H;8C%I."%3'(%;<#'."$+%H#-(3-.%2/)'%>"3'6%?-(/(>/> 6-?'?&/'(%6<?&/>-.%5'()%>"())"+%D-0/>/1'(%$&-$"="6'$"%,^%?"("?'#%/(>/6 ?-(2'#'(6'(%H#-(3-.%'3'#'1%&.<$-$<.%hfiGA<?&'>"0#-C%!4E%7PEHC%>'?&"#'(%`i%0">%3'( ).'&1"A%A'.3%5'()%?-?"#"6"%6-?'?&/'(%@&-(KW+%8-()'(%$&-$"="6'$"%>-.$-0/>%4(3' $/3'1%3'&'>%0-6-.2'%3-()'(%H#-(3-.C%>->'&"%>-(>/(5'%#-0"1%3"$'.'(6'(%/(>/6 ?-())/('6'(%,^%3-()'(%6-?'?&/'(%5'()%#-0"1%>"())"%?"$'#(5'%,-(>"/?%7%3-()'( !4E%`PfEH%')'.%$-#/./1%='$"#">'$%H#-(3-.%3'&'>%0-.2'#'(%3-()'(%?'6$"?'#+% ,'3'%6<?&/>-.%#'?'%&-(/#"$%3-()'(%$&-$"="6'$"%&.<$-$<.%,-(>"/?%7%j77C !4E%PgiEHC%SK4%<(0<'.3%f%EH%H#-(3-.%$/3'1%3'&'>%3"2'#'(6'(%3-()'(%$'()'>%0'"6 >'(&'%?'$'#'1+%W'#/%/(>/6%?</$-%$'()'>%3"'(2/.6'(%0')"%4(3'%/(>/6%?-())/('6'( ?</$-%3-()'(%7%><?0<#+ H/6/%"("%?-?'()%?-?=<6/$6'(%3"."%/(>/6%?-?0'1'$%H#-(3-.%$-A'.' 61/$/$C%('?/(%&-(/#"$%2/)'%?-?0'1'$%$-A'.'%$"()6'>%0-0-.'&'%$<=>*'.-%<&-(%$</.A- #'"((5'%$-0')'"%&-(3'?&"()%&-())/(''(%H#-(3-.%5'()%3'&'>%4(3'%)/('6'(%/(>/6
  •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`+%,'3'%L-.$"G L-.$"%>-.0'./%"("%H#-(3-.%>-#'1%?-?"#"6"%&-./0'1'(G&-./0'1'(%5'()%A/6/&%0'(5'6 3"0'(3"()6'(%L-.$"%P+Pg%BH#-(3-.%,/0#"$1-.J+%8"'(>'.'(5'%&-('?0'1'(%><<#G><<# ?<3-#"()C%$-&-.>"%$#"A-%><<#%3'(%='$"#">'$%/(3<%5'()%#-0"1%0'"6%$-.>'%6->-.'()'(%IA<(G"A<( 5'()%#-0"1%#-()6'&%5'()%>-(>/(5'%$'()'>%?-?0-."6'(%6-?/3'1'(%3"0'(3"()6'(%3-()'( L-.$"%P+Pg+ Q'(5'%$'2'%&'3'%L-.$"GL-.$"%3"%'>'$%P+Pg%)'?-%-()"(-%>"3'6%3"$-.>'6'(C 3"6'>'6'(%&'3'%$">/$(5'%0'1*'%?-.-6'%?-()'#'?"%?'$'#'1%&'3'%#"$-($"%)'?-%-()"(- >-.$-0/>%('?/(%?-.-6'%0-.2'(2"%/(>/6%?-(5-#-$'"6'(%?'$'#'1%"("%$-A-&'>(5'+%Y"6'%4(3' "()"(%?-())/('6'(%)'?-%-()"(-%>-.$-0/>%?'6'%4(3'%1'./$%?-())/('6'(%L-.$"%P+Pg+ E'6'%3'."%">/%H#-(3-.%5'()%3"0'1'$%&'3'%0/6/%"("%'3'#'1%H#-(3-.%L-.$"%P+Pg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
  •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g%$-&-(/1(5'C%4(3'%1'./$ ?-(3<*(#<'3%="#-%H#J;3./%3'."%$">/$%0#-(3-.+<.)+%W->'66'(%="#-%>-.$-0/>%3"%$-?0'.'() =<#3-.C%2'#'(6'(%H#-(3-.C%#'#/%?'$/6%6-%?-(/%="#-k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
  •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`(6#)%0')"%4(3'%5'()%?-())/('6'(%@;%W"(/+%,'3'%@;%]"(3<*$ P999%'>'/%a,%="#-%>-.$-0/>%3'&'>%4(3'%>-?/6'(%3"%=<#3-.%aE'*(-#$/6%.$3
  • 21. &#//,$O6a$.-.`(6#)a+""2,*./,'$%E./.ab'/%.%b(-5#)a12#$3#)+%;-3'()6'(%&'3'%@; ]"(3<*$%e%="#-%"("%3'&'>%4(3'%>-?/"%&'3'%=<#3-.%a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b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`J+
  •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
  •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
  • 24. O(>/6%?-())-$-.%'>'/%?-?GV&'(X%L"-*C%>'1'(%A&7,F/^NN1D%#'#/%)-.'66'( ?</$-+%,-.)-$-.'(%#'5'.%3-()'(%&'(%'3'#'1%0-.3'$'.6'(%&-.)-.'6'(%?</$-%5'()%4(3' #'6/6'(+ O(>/6%?-(l<<?%L"-*%>-6'(%3'(%>'1'(%%A]/)2^LN1D%#'#/%)-.'66'(%?</$- $-3"6">%$'?&'"%#'5'.%0-.)-.'6+%W'5'.%'6'(%0-.)-.'6%&-.#'1'(%2"6'%A/.$<.%0-.'3'%3"%3-6'> >">"6%3"?'('%4(3'%?-(-6'(%%A]/)2^LN1D+%Y"6'%A/.$<.%0-.'3'%2'/1%3"%>">"6%>-.$-0/>%?'6' #'5'.%'6'(%0-.)-.'6%3-()'(%A-&'>+%O(>/6%l<<?%"(C%)-.'66'(%?</$-%6-%6'('(%'>'/%'>'$C $-3'()6'(%/(>/6%l<<?%</>%)-.'66'(%?</$-%6-%6"."%'>'/%6-%0'*'1+ ,'3'%78%*"(3<*%H#-(3-.%?-?"#"6"%$-0/'1%QE%*()6')+%78%A/.$<.%0-.0-(>/6 #"()6'.'(%6-A"#%0-.*'.('%?-.'1%&/>"1%3-()'(%h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b(-".3%@cQ%3.$%dD%&'3'%6-50<'.3 /(>/6%?-./0'1%&'(3'()'(%6-%=.<(>%B3-&'(JC%$"3-B$'?&"()J%3'(%><&%B'>'$J+%Ab(-".3%=D 0-.=/()$"%/(>/6%?-?"(3'1G?"(3'16'(%>'?&"#'(%3'."%&-.$&-6>"=%6-%<.><)<('#%'>'/ $-0'#"6(5'+%Ab(-".3%<%3.$%VD%0-.=/()$"%/(>/6%?-.<>'$"%>'?&"#'(%6-%0'*'1%3'(%6-%'>'$ &-.%#'()6'1C%$-3'()6'(%Ab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eDC%A&7,F/^eD 3'(%A]/)2^eD%&'3'%6-50<'.3+%
  •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
  • 26. 4(3'%2/)'%3'&'>%?-?"(3'16'(%&"L<>%&<"(>%3'#'?%F3">E<3-+%,"L<>%&<"(> &'3'%H#-(3-.%'3'#'1%$-0/'1%>">"6%0<#'%6-A"#%5'()%0-.*'.('%/()/+%^'.'(5'%4(3'%1'(5' &-.#/%?-($-#-A>%$-#/./1%L-.>-%&'3'%$-0/'1%<02-6%3'(%?-?"(3'16'((5'%$-1"())'%&"L<> &<"(>%0-.'3'%&'3'%&<$"$"%5'()%4(3'%"()"(6'(+%8"%3'#'?%F3">E<3-%!<>'$"%3'(%$A'#-%>->'& 3"#'6/6'(%0-.3'$'.6'(%>">"6%>-()'1%3'."%$/0%<02-A>G$/0%<02-A>%5'()%4(3'%&"#"1+%O(>/6 ?-#'6/6'(%.<>'$"%3'(%$A'#-%0-.3'$'.6'(%&"L<>%&<"(>%4(3'%1'./$%6-#/'.%3'."%-3">"()%?<3- 3'(%?'$/6%6-%@02-A>E<3-+%,-?0-."'(%?'>-."'#C%#")1>("()%3'(%4("?'$"%2/)'%1'./$ 3"#'6/6'(%&'3'%@02-A>E<3-+% O(>/6%<&-.'$"%5'()%?-?0/>/16'(%"(&/>G"(&/>%'()6'C%0"'$'(5'%H#-(3-. ?-(5<3<.6'(%$-0/'1%0/>><(%3-()'(%6->-.'()'(%3'(%'()6'%3"$'?&"()(5'+%O(>/6 ?-()/0'1%("#'"%"(&/>%6#"6%3'(%>'1'(%A/.$<.%&'3'%><?0<#%>-.$-0/>%3'(%)-$-.%?</$-%6- $'?&"()+%O(>/6%?-('?0'16'(%("#'"(5'C%)-$-.%?</$-%6-%6'('(%3'(%/(>/6 ?-()/.'()"(5'+%O(>/6%?-('?0'16'(%("#'"(5'%$-3"6">%3-?"%$-3"6">C%6#"6%&'3'%$-0-#'1 6'('(%'()6'%0-0-.'&'%6'#"%1"())'%?-(A'&'"%("#'"%5'()%4(3'%"()"(6'(+%O(>/6 ?-()/.'()"(5'%$-3"6">%3-?"%$-3"6">%6#"6%&'3'%$-0-#'1%6"."%'()6'%0-0-.'&'%6'#"%1"())' ?-(A'&'"%("#'"%5'()%4(3'%"()"(6'(+%Y"6'%4(3'%"()"(%#'()$/()%?-?'$/66'(%"(&/>%'()6' #'()$/()%3'."%6-50<'.3C%>-6'(%A&7,F/^LN1D%&'3'%0/>><(%"(&/>C%?'$/66'(%("#'"%5'() 4(3'%"()"(6'(%3'(%>-6'(%A[$/#)D @")4&%"4,*+'1%54&&2"%*"*+03%)$#$%$+*$%.$,)%54&&2"7 8'#'?%?-())/('6'(%H#-(3-.%&-())/(''(%$1<.>A/>%$'()'>#'1%&-(>"()C 6'.-('%3'&'>%?-?&-.A-&'>%6-.2'%4(3'%>-./>'?'%$-*'6>/%4(3'%?-#'6/6'(%&.<$-$%-3">"() 3'(%$-0')"'(%0-$'.%&.<$-$%-3">"()%$-&-.>"(5'%?-?'()%1'./$%3"#'6/6'(%3-()'(%$1<.>A/>+% 4(3'%5'()%>-.0"'$'%3-()'(%$1<.>A/>G$1<.>A/>%$<=>*'.-G$<=>*'.-%&'3' ]"(3<*$%?/()6"(%'*'#(5'%4(3'%'6'(%?-()'#'?"%$-3"6">%6-$/#">'(%3-()'(%0-0-.'&' $1<.>A/>%&'3'%H#-(3-.C%6'.-('%$1<.>A/>G$1<.>A/>%&'3'%H#-(3-.%2/)'%V')'6%?-(5"?&'()X 3'."%6-0'(5'6'(%$<=>*'.-%#'"((5'+%;-?"$'#%/(>/6%?-?0/'>%&.<5-6N="#-%0'./C%5'() 0"'$'(5'%6-0'(5'6'(%$<=>*'.-%?-())/('6'(%$1<.>A/>%^>.#mT%H#-(3-.%?-())/('6'( $1<.>A/>%A]/)2^fD+ 4(3'%3'&'>%?-(-?/6'(%.-=-.-($"%$1<.>A/>G$1<.>A/>%&-(>"()%&'3'%0')"'( 0-#'6'()%0/6/%"("+%;-0')"'(%0-$'.%$1<.>A/>%#'"((5'%3'&'>%4(3'%&-#'2'."%?-#'#/"%='$"#">'$ ><<#>"&C%3-()'(%?-#->'66'(%A/.$<.%6-%'>'$%><?0<#%5'()%4(3'%"()"(%)/('6'(+ &22.&')%)$#$%?.*"#*+
  •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h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hC%1'#%>-.$-0/>%?-?'$>"6'(%?-$1G?-$1%&'3'%?<3-#%5'() 4(3'%0/'>%?-(2'3"%#-0"1%.'&"+%E<3-#%5'()%>-.3"."%3'."%='A-$G='A-$%3-()'(%h%$"$"%0"'$'(5' #-0"1%?/3'1%3"'("?'$"6'(%6'.-('%&-.?/6''((5'%#-0"1%$>'0"#%$-*'6>/%3"3-=<.?'$"6'( ?"$'#(5'%$-*'6>/%?-()'("?'$"6'(%?<3-#%>-.$-0/>%3-()'(%0<(-+ ,-.#/%2/)'%3"0'1'$%?-()-('"%0<%?<3-#"()%$-3"6">%3"$"("+%R-6("6%0< ?<3-#"()%'3'#'1%>-6("6%?<3-#"()%5'()%?-())/('6'(%<02-6G<02-6%&."?">"=%B0<C%$&1-.-C A5#"(3-.C%3'(%$-0')'"(5'J%$-0')'"%3'$'.(5'+%@02-6G<02-6%>-.$-0/>%3"-3">%3'(%3"0-(>/6 $-1"())'%?-(2'3"%0-(>/6%<02-6%5'()%3""()"(6'(+%R-6("6%0<%?<3-#"()%?-(/./>%&-(/#"$ '3'#'1%>-6("6%5'()%>-.0'"6%3'(%0"$'%4(3'%)/('6'(%3"%$-0')"'(%0-$'.%$<=>*'.-%78%5'() /?/?+%;-#'"(%">/%3-()'(%0<%?<3-#"()%4(3'%3'&'>%?-(A"&>'6'(%?<3-#G?<3-#%1")1%&<#5 B3-()'(%0'(>/'(%$/03J%?'/&/(%#<*%&<#5%3-()'(%?/3'1+ <;Y;<N#/.5.22 E->'0'##%'3'#'1%='$"#">'$%?<3-##"()%5'()%2'.'()%3")/('6'(C%*'#'/ 0-#'6'()'(%0-0-.'&'%$<=>*'.-%'("?'$"%?-?0-."6'(%='$"#">'$%?"."&%$-&-.>"%>-6("6
  • 28. ?->'0'##C%$-&-.>"%&'3'%$<=>*'.-%c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b#O./,Fc%1.22c%K(5#fc%K(5#g%3'(%K(5#e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
  • 29. J*&$5$..%)$#$%?.*"#*+ <;Y;Q]()9#c%b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