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"# 27>C?6853@=?5AG7:5=K C@67=3=3C@7A443:7 5@: =27< A7837: E6C@ =27 453: :C>E?7@= 5@: 3@ =27 453: :C>E?7@= 3=4789 =27A7 34 5 ?7@=3C@ =25= =27 :7>7547: ' 5@E?5@=25A5<5 I54 ICAG3@B 54 5 >CC837 E@:7A 5?5GA342@5 5F3@B 275A: =27 875A@7: >CE@4784 9CA =27 5667885@=4 5@: A746C@:7@= C =234 CEA= 67AE47: =27 3?6EB@7: DE:B?7@= A358 CEA= A7>CA:4 5@: C=27A ?5=7A3584685>7:C@A7>CA: - 10 - = 34 467>393> >547 C9 =27 67=3=3C@7A4 =25= =27 :7>7547: ' 5@E?5@=25A5<5 I54 ICAG3@B 54 5 >CC837 E@:7A =27 7?68C<?7@= C9 A746C@:7@= C 746C@:7@= C34=27CI@7AC9A5>=CA;75A3@BC& .#..#3@ I23>2 =27 :7>7547: ' 5@E?5@=25A5<5 I54 =A5F783@B 5= =27 =3?7 C9 5>>3:7@= 27 >C?6853@= ' K 3@:3>5=74 =25= 5?5GA342@5 =27 2E4;5@: C9 A746C@:7@=CI54:A3F3@B=27453:A5>=CA746C@:7@= C I2C 254 ;77@ 7K5?3@7: 54 3@ 27A >2379. 7K5?3@5=3C@427254467>393>588<4=5=7:=25==27:7>7547: '5@E?5@=25A5<5I545@7?68C<77ICAG3@BE@:7A27A54 5 >875@7A 3@ A5>=CA ;75A3@B C& .#..# 5@: =27 453:A5>=CAI546AC>77:3@B=C27A85@:5@:=27:7>7547: '5@E?5@=25A5<5I54BC3@B3@=27453:A5>=CA9CA:C3@B 5BA3>E8=EA7 ICAG 3@ 27A 85@: 27 67=3=3C@7A4 25F7 @C= 6AC:E>7:5@<:C>E?7@=4=C42CI=25=A746C@:7@=C34 CI@3@B 5BA3>E8=EA58 85@: ;79CA7 =27 C??3443C@7A 27 67=3=3C@7A4 E@:7A C 25F7 6AC:E>7: <C ?754EA3@B 5>A74 # BE@=54 I27A73@ 5@ - 11 - 7K=7@= C9 5>A7 BE@=54 34 4=5@:3@B 3@ =27 @5?7 C9 A746C@:7@=C5@:3@>C8E?@C3=3442CI@=25=427 34>E8=3F5=CAC9=27453:85@:=C=25=7K=7@= 3@ 27A >AC44.7K5?3@5=3C@ 254 5:?3==7: =25==27>C?6853@=254;77@9387:4=5=3@B=25==27:7>7547: ' 5@E?5@=25A5<5I54 ICAG3@BE@:7A 5?5GA342@5 =27 2E4;5@: C9 A746C@:7@= C 5@: 27A 2E4;5@: 34 CI@3@B =27 85@: 27 6AC:E>7: 58C@B I3=2 C3@:3>5=74=25=7F7@5BA3>E8=EA5885@:4=5@:4 3@ =27 @5?7 C9 A746C@:7@= C I23>2 4E66CA=4 =27 >C@=7@=3C@ C9 A746C@:7@= C =25= =27 :7>7547: ' 5@E?5@=25A5<5I54ICAG3@B545>CC8373@27A85@:5@: 584CICAG3@B545>875@7A3@27AA5>=CA27:7>7547:' 5@E?5@=25A5<5I546AC>77:3@B3@=27453:A5>=CA545 >875@7A 5@: 27 ?7= I3=2 5@ 5>>3:7@= 5@: 27 :37: 2E4 :7>7547:'5@E?5@=25A5<5I54ICAG3@B545>875@7A3@ A5>=CAC9A746C@:7@=C5@:=27A79CA7=27A77K34=4=27 A785=3C@4236 C9 7?68C<7A 5@: 7?68C<77 ;7=I77@ A746C@:7@=4 C 5@: =27 :7>7547: . 5@E?5@=25A5<5 - 12 - 27 5>>3:7@= 25: =5G7@ 685>7 :EA3@B =27 >CEA47 C9 7?68C<?7@=27A79CA7=27C??3443C@7A34@C=DE4=3937: 3@ 2C8:3@B =25= =27A7 34 @C DEA58 A785=3C@4236 ;7=I77@ =27 :7>7547:'5@E?5@=25A5<55@:A746C@:7@=C5@:=27 5>>3:7@= 25: @C= =5G7@ 685>7 :EA3@B =27 >CEA47 C9 7?68C<?7@=27A79CA7=274E;4=5@=358LE74=3C@C985I34 5@4I7A7:5>>CA:3@B8< " 27 C??3443C@7A 254 @C= 5447447: =27 >C?67@45=3C@ 27A79CA7 =27 ?5==7A A7LE3A74 =C ;7 A7?5@:7:=C=27C??3443C@7A=CB3F793@:3@B4C@344E74 C =C 5@: :346C47 C9 =27 ?5==7A 3@ 5>>CA:5@>7 I3=2 85I @F37IC9=275;CF7=279C88CI3@B/ 2756675834588CI7: 273?6EB@7:DE:B?7@=:5=7:65447:3@ C(;<=27 ::87@3CA3F38+E:B75@: + 5@: C??3443C@7A 9CA CAG?7@14 C?67@45=3C@5=53>2EA3447=.543:7 - 13 - 27 ?5==7A 34 A7?5@:7: =C =27 ::8 7@3CA 3F38 +E:B7 5@: + 5@: C??3443C@7A 9CA CAG?7@14 C?67@45=3C@ 5= 53>2EA 3@ CA:7A =C B3F7 93@:3@B4 C@344E74C=C5@::346C47C9=27>853?67=3=3C@ 3@5>>CA:5@>7I3=285I 2765A=3745A7:3A7>=7:=C56675A;79CA7=27 ::8 7@3CA 3F38 +E:B7 5@: + 5@: C??3443C@7A 9CA CAG?7@14C?67@45=3C@5=53>2EAC@ I3=2CE=5@=3>365=3@B5@<CEA=@C=3>7 27A7B34=A< 34 :3A7>=7: =C 47@= ;5>G =27 A358 CEA= A7>CA:458C@BI3=2>C6<C9=234DE:B?7@=9CA=2I3=2 )** & % %' $ &++ !34=C8C &