Учебный год 22-23 / viewcontent5
.pdfDZWLV!(,!DE^B!!#!=%%$'&5!(.!$)%!.'&-%!='&'0$%,0!(.!0%:%&!'&8/0$,'#4'7%8!$'(&01RR!! G)%!&%<!%&$'$6!<#0!-#44%8!$)%!F'&-'#4!T$#9'4'$6!F(,/=!KFTFM1RU!!!
!
G)%!DE^!#40(!%0$#94'0)%8!$)%!D,(/+!(.!G<%&$6!F'&-%!?'&'0$%,0!#&8!I%&$,#4!S#&C! D(:%,&(,0!KDE"@M1R^!3&!>+,'4!"@@A!$)%!FTF!<#0!%*+#&8%8!#&8!/+5,#8%8!96!$)%!DE"@! #&8! ,%-(&0$'$/$%8! #0! $)%! F'&-'#4! T$#9'4'$6! S(#,8! KFTSM1RO! ! ! >5#'&B! $)%! FTS! '0! $)%! +,(8/-$!(.!=/4$'$'(!-(&0%&0/0!#=(&5!5(:%,&=%&$!#5%&-'%0B!&($!#&!'&0$'$/$'(&! -,%#$%8!96!'&$%,$'(!(,!%:%&!9'4#$%,#4!$,%#$61!!T(!$)%!'&.(,=#4!-(=+(&%&$0!(.!$)%! 9#&C!,%5/4#$(,6!%-(0+)%,%!-(&$'&/%!$(!5,(<!%:%,!=(,%!-(=+4%*1!!!
!
G)%!5,(<'&5!'=+(,$#&-%!(.!'&$%,$'(!.'&-'#4!#-$':'$6!#40(!)#8!#!.%%89#-C!%..%-$! (&! $)%! e(,48! S#&C! #&8! 3?F`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
!
?(0$! ,%-%&$46B! =%%$'&50!(.! $)%! DEO! .'&-%! ='&'0$%,0! )#:%! -(&0$'$/$%8! #! .(,/=! .(,! -(&0'8%,'&5!-(&-%,$%8!#-$'(&!#=(&5!4%#8'&5!$'(&0!$(!8%:%4(+!#!-(==(&!#++,(#-)! $(! '&$%,$'(! 9#&C'&5! ,%5/4#$'(&1U2! ! G)'0! =(:%! )#0! )#8! '&$%,$'(! ,%+%,-/00'(&01U"!!G)'0!'0!&($!(&46!9%-#/0%!(.!$)%!-/,,%&$!.'&-'#4!-4'=#$%B!9/$!#40(! 9%-#/0%! #4$)(/5)! '$! '0! #&! '&.(,=#4! 5,(/+! (.! $'(&0! &($! 9(/&8! 96! $,%#$6B! $)%! DEO! <'%480!'==%&0%!+(4'$'-#4!-#+'$#4!#=(&5!'&$%,$'(!'&0$'$/$'(&0UH!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
RR!!""!1*>2%#&($%!HH!.(,!9,'%.!8%0-,'+$'(&1! RU!)$$+`aa<<<1.'&-'#40$#9'4'$69(#,81(,5a#9(/$a)'0$(,61)$=1!! R^!!""!1*>2%!&($%!HR!.(,!9,'%.!8%0-,'+$'(&1# RO!XJIY>Z>G3W[!W[!TGZJ[DGdJ[3[D!GdJ!F3[>[I3>Y!T]TGJ?!t!YW[XW[B!"!>VZ3Y!"@@Ab! #:#'4#94%!#$!K)$$+`aa<<<15"@1(,5aX(-/=%&$0aF'&fX%+0fF'&fZ%5f>&&%*f@"@N@AfEf2U2Rf.')+8.M1!! G)%!$%,=!P.'&-'#4Q!9%-#=%!=(,%!0/'$#94%!9%-#/0%!8(=%0$'-!,%.(,=0!'&!$)%!LTB!<)%,%!$)%! 0%+#,#$'(&0!9%$<%%&!-(==%,-'#4!#&8!'&:%0$=%&$!9#&C'&5B!9#&C'&5!#&8!'&0/,#&-%B!#&8!9#&C!#&8! -(==%,-%B!-,%#$%8!96!$)%!4%5'04#$'(&!'&!2A"^!#&8!2AHHB!<#0!0'5&'.'-#&$46!<%#C%&%8!<'$)!$)%!+#00#5%! (.!$)%!D,#==EY%#-)ES4'4%6!>-$!(.!2AAA1! RA!!""!$)%!8%0-,'+$'(&!#&8!%:#4/#$'(&!(.!$)%!FT>V!96!$)%!;('&$B!3&8%+%&8%&$!J:#4/#$'(&!D,(/+B!
<-&%&=-%+#!"=,.2#511"11:"&,#Q2.)2%:L##N6@#("D-";#.8#,3"#S.-&,#H.2+0#$%&'#%&0#NE<#N&-,-%,-D"B!"@@U! K#:#'4#94%!(&4'&%!#$!<<<1<(,489#&C1(,5a'%5M1!! U@!G)%!4#0$!)(48(/$k$)%!LTk#5,%%8!$(!9%-(=%!#!+#,$'-'+#&$!'&!$)%!+,(5,#=!4#$%!4#0$!6%#,1!!!""!G3"# 6&0#.8#6J=">,-.&%+-1:T##NE<#,.#6J%:-&"#7!#<-&%&=-%+#!I1,":B!C%8!-#+'$#4'0=B!l/&%!"^B!"@@O! K#:#'4#94%!(&4'&%!#$!<<<1C%8-#+'$#4'0=1-(=a"@@Oa@Ua%&8E(.E%*-%+$'('0=E'=.E$(E%*#='&%E /01)$=4Mb!D#9(,!T$%'&5#,$B!G3"#!32-&'-&)#N&8+*"&="#.8#,3"#7!#<"0"2%+#("1"2D"B!T+%'5%4!W&4'&%B!l/&%!"U! "@@O!K#:#'4#94%!(&4'&%!#$!<<<10('%5%418%a'&$%,$'(a<(,48a@B2R2OB8,/-CERU""A2B@@1)$=4M1!! U2)$$+`aa<<<15^.'&-%1$%0(,(1'$a%*+(,$a0'$%0aDOa%&a"@@A3$#4'#&V,%0'8%&-6a?%%$'&50al/&%aI(= =/&'g/%0aX(-/=%&$0aI(=/&'-#$(fDOf?'&'0$,'fF'&7'#,'ffY%--%f2Hf5'/5&(f"@@A1+8.1!! U"!!""!-&82%!$%*$!#--(=+#&6'&5!&($%!2U@1! UH!""!d#;B!1*>2%!&($%!HHB!#$!OR!K&($'&5!$)#$!=%=9%,0!(.!$)%!DEO!)(480!&%#,46!(&%!)#4.!(.!#44!:($%0!'&! $)%!3?FM1!
! |
22 |
!!
A"##:)#F+&03,)3#O,)39*#N0*)-*P#!!
!
G)%!DFI!5%&%,#$%8!#!=/4$'$/8%!(.!+/94'-!+(4'-6!#nj%0!#&8!+,(+(0#40!(&!$)%!+#,$! (.! 5(:%,&=%&$! #5%&-'%0B! '&$%,$'(! 9(8'%0! #&8! +,%0$'5'(/0! -(==%&$#$(,01! ! W&%! =#;(,!.(-/0!)#0!9%%&!/+(&!$)%!#,-)'$%-$/,%!(.!8(=%0$'-!#&8!'&$%,$'(!9#&C'&5! ,%5/4#$'(&1!!>&($)%,!)#0!9%%&!(&!+,'&-'+4%0!(.!,%5/4#$'(&!#&8!0/+%,:'0'(&!$)#$!0%%=! '&8'0+%&0'94%!.(,!$)%!#$$#'&=%&$!#&8!=#'&$%&-%!(.!#!.,#=%<(,C!.(,!$)%!-(&8/-$!(.! 8(=%0$'-! #&8! '&$%,$'(! 9#&C'&5! #&8! .'&-%! $)#$! <(/48! 9%! 4%00! ,'0C6! $)#&! $)%! (&%!4%#8'&5!$(!$)%!DFI1!
#
@"!!F+&03,)3#:0-%,5&-590*2#./=&2<#
!
3&!$)%!6%#,0!,/&&'&5!/+!$(!'&$%,$'(!#<#,%&%00!(.!060$%='-!,'0C!'$!0%%=0!-4%#,! $)#$!$)%!(&46!8(='&$!=(8%4!(.!,%5/4#$(,6!#,-)'$%-$/,%!#,(/&8!$)%!<(,48!<#0!$)#$! (.!$)%!="&,2%+#9%&'1!!G,/%B!$)%!L&'$%8!T$#$%0!)#8!#!:%,6!8'..%,%&$!+#$$%,&B!<)'-)!'0!&($! 0/,+,'0'&5!0'&-%!$)%!-%&$!8%:%4(+=%&$!(.!#!-%&$,#4!9#&C!<#0!0-($-)%8!'&!(&%!(.! $)%! $'(&m0! =(0$! .(,=#$':%! =(=%&$0B! #0! .#,! 9#-C! #0! 2OH"UN! #&8! 0(=%$)'&5! ,%0%=94'&5!#!=(8%,&!-%&$,#4!9#&C!(&46!%=%,5%8!$),(/5)!$)%!-,%#$'(&!(.!$)%!F%8%,#4! Z%0%,:%! T60$%=! '&! 2A2H1! ! 3&! $)%! ^@! $(! O@! 6%#,0! 9%$<%%&! #! :#0$! #,,#6! (.! ($)%,! ,%5/4#$(,0!)#8!%=%,5%8!#$!9($)!$)%!$'(!4%:%4!KWIIM!#&8!0$#$%!4%:%401UR!!]%$!=(,%! ,%5/4#$(,0!<%,%!-,%#$%8!'&!$)%!<#C%!(.!$)%!I,#0)!(.!2A"AB!<)'-)!4%8!'&!2AHH!$(!$)%! %0$#94'0)=%&$!(.!$)%!FX3IB!TJIB!d(=%!Y(#&!S#&C!T60$%=B!%$-1UU!S/$!$)%!)/5%!&%%8!
.(,! -(&-%,$%8! '&$%,$'(! .'&-'#4! #-$'(&! )#8B! 96! S,%$$(&! e((80B! +4#-%8! $)%! LT! F%8!.',=46!'&!$)%!8,':%,m0!0%#$!#0!.#,!#0!'&$%,$'(!9#&C!,%5/4#$'(&!#0!/&8%,0$((8! '&! $)%! LTB! '.! &($! $)%! 8#'46! 0/+%,:'0'(&! (.! '&$%,$'(! 9#&C'&5! #-$':'$6B! <#0! -(&-%,&%81!!I%&$,#4!9#&C0!'&!($)%,!8%:%4(+%8!$'(&0!<%,%!#4,%#86!'&!-)#,5%1!
!
>44! (.! $)'0! 9%5#&! $(! -)#&5%! 0/90$#&$'#446! #0! $)%! '=+(,$#&-%! (.! -(&$'&/'&5! 0/+%,:'0'(&B! #0! (++(0%8! $(! ,%5/4#$'(&B! 9%-#=%! %:'8%&$! <'$)! $)%! 2A^N! -(44#+0%0! (.! S#&C!d%,0$#$$!#&8!F,#&C4'&![#$'(!S#&C1U^!!G)'0!,%-(5&'$'(&!(.!$)%!'=+(,$#&-%!(.! %..%-$':%!(&5('&5!0/+%,:'0'(&!'&!$/,&!+4#-%8!g/%0$'(&0!,%5#,8'&5!$(!$)%!(+$'=#4!.(,=! #&8!0$,/-$/,%!(.!,(/$'&%!0/+%,:'0'(&!(.!9#&C0!(&!$)%!$#94%1!!G)%!+#0$!$),%%!8%-#8%0! )#:%!0%%&!$)%!%:(4/$'(&!(.!8'..%,%&$!=(8%40!(.!9#&C!,%5/4#$'(&!#&8!0/+%,:'0'(&!$)#$! )#:%! 9%-(=%! ,%-(5&'7%8! #0! $)%! =#'&! +(4'-6! #4$%,$':%0! '&! #&6! 8'0-/00'(&! (.!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
UN!!""!l%,,6!e1!?#,C)#=B!>!F3[>[I3>Y!d3TGWZ]!WF!GdJ!L[3GJX!TG>GJT`!_WYL?J!3!2N2E2RH!K?1!J1! T)#,+%!"@@"M!K8%0-,'9'&5!$)%!)'0$(,6!(.!F',0$!#&8!T%-(&8!S#&C0!(.!$)%!L&'$%8!T$#$%0!#&8!>&8,%<! l#-C0(&m0!<#,!#5#'&0$!$)%=M1!!W&!$)%!5,%#$!+(4'$'-0!(.!$)%!l#-C0(&'#&!%,#B!'&!<)'-)!$)%!S#&C!+4#6%8!#! =#;(,!,(4%B!1""!l(&!?%#-)#=B!>?JZ3I>[!Y3W[`!!>[XZJe!l>IcTW[!3[!GdJ!ed3GJ!dWLTJ!K"@@OM1! UR!!""!l%,,6!e1!?#,C)#=B!>!F3[>[I3>Y!d3TGWZ]!WF!GdJ!L[3GJX!TG>GJT`!_WYL?J!33B!2OAE"2H! K"@@"MK5':'&5!#!5%&%,#4!)'0$(,6!(.!$)%!%:(4/$'(&!(.!,%5/4#$'(&!'&!$)%!L&'$%8!T$#$%0M1!
UU!N0?!#$!H@A1! U^!!""!1*>2%#$%*$!#--(=+#&6'&5!&($%0!HNEHA1!
! |
2" |
,%5/4#$(,6! ,%.(,=1! ! F(/,! =(8%40! #,%! &(<! -(&0'8%,%8! $(! %0$#94'0)! $)%! +#$$%,&0`UO! #! P0'4(Q! =(8%4B! <)'-)! #4'5&0! ,%5/4#$(,0! <'$)! %#-)! 0/9E0%-$(,! <'$)'&! $)%! .'&-'#4! 0%,:'-%0!'&8/0$,6b!#!P+%#C0Q!=(8%4B!<)'-)!#4'5&0!,%5/4#$(,0!#--(,8'&5!$(!$)%!8'0$'&-$! 5(#40! (.! ,%5/4#$'(&b! #! P/&'.'%8Q! =(8%4! '&! <)'-)! ,%5/4#$(,6! ,%0+(&0'9'4'$'%0! #,%! -(&0(4'8#$%8! /&8%,! #! 0'&54%! #5%&-6b! #&8! #! PQ)69,'8Q! =(8%4! %=9,#-'&5! 0(=%! -(=9'$'(&! (.! $)%0%! #++,(#-)%01! ! G)%! ,%4#$':%! ,(4%! (.! $)%! -%&$,#4! 9#&C! '&! %#-)! -(/&$,6! '0! &(<! ,%-(5&'7%8! #0! #! 8%$%,='&'&5! .#-$(,! '&! <)'-)! /4$'=#$%! =(8%4! #! +#,$'-/4#,!$'(&!'0!4'C%46!$(!#8(+$1!!3&!$)%!+#0$!$<(!8%-#8%0!$)%,%!)#0!9%%&!#!-4%#,! $,%&8!$(<#,8!$)%!#8(+$'(&!(.!$)%!/&'.'%8!,%5/4#$(,!=(8%4!$6+'.'%8!96!$)%!F'&-'#4! T%,:'-%0!>/$)(,'$6!KFT>M!'&!$)%!L&'$%8!c'&58(=BUA!$)(/5)!0(=%!-(==%&$#$(,0!)#:%! 94#=%8!$)%!-,%#$'(&!(.!0'&54%!0/+%,:'0(,0!8':(,-%8!.,(=!-%&$,#4!9#&C0!.(,!0(=%!(.! $)%! +,(94%=0! 4%#8'&5! /+! $(! $)%! DFIB! #&8! $)%! FT>! )#0! 9%%&! 0/9;%-$%8! $(! <'$)%,'&5! -,'$'-'0=!.(,!'$0!(<&!,%5/4#$(,6!<%#C&%00!#&8!'$0!.#'4/,%!$(!#&$'-'+#$%!$)%!'=+#-$!(.! $)%!4((='&5!-,'0'0!<'$)!,%0+%-$!$(!0+%-'.'-!'&0$'$/$'(&01^@!
!
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e)'4%! <)(4%0#4%! ,%5/4#$(,6!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
UO!!""!X($(!?#0-'#&8#,(!h!?#,-!v/'&$6&B!("8.2:-&)#<-&%&=-%+#!*>"2D-1-.%&0#,3"#(.+"#.8#B"&,2%+# $%&'1L##%#("D-";#.8#@+.9%+#G2"&01U#B%*1"1#%&0#688"=,1#K2AAOE"AAOMB!3?F!V(4'-6!3&0'5)$![(1!H@! K#:#'4#94%!#$!)$$+`aa<<<1-%+,1(,5a+/90aV(4'-63&0'5)$0aIJVZfV(4'-6f3&0'5)$f@H@1#0+M1! UA!!""!-0?!!F(,!#!8%$#'4%8!%:#4/#$'(&!(.!$)%!#44E'=+(,$#&$!0'&54%!,%5/4#$(,!=(8%4!,%+,%0%&$%8!96!$)%!FT>! '&!$)%!LcB!1""!l(0%+)!l1![(,$(&B#@+.9%+#<-&%&=-%+#!"=,.2#("8.2:L##G3"#!-&)+"#<-&%&=-%+#(")*+%,.2#E.0"+# $%1"0#.,3"#7&-,"0#V-&)0.:#<!5#6J>"2-"&="W5#B2-,-=%+#(""D%+*%,-.&B!HA!3&$m4!Y#<1!2R!K"@@RM1!
^@!T%%B!%151B!I),'0$'&%!T%'9B!G)%!FT>![(,$)%,&!Z(-C!,%+(,$`!$)%!,%5/4#$(,!$)#$!='00%8!$)%!-(44#+0%B!G)%! G'=%0!?#,-)!"^!"@@O!K#:#'4#94%!#$! )$$+`aa9/0'&%001$'=%0(&4'&%1-(1/Ca$(4a9/0'&%00a'&8/0$,6f0%-$(,0a9#&C'&5f#&8f.'&-%a#,$'-4%HU"O ^@21%-%r+,'&$s6%0h,#&8&/=s2"N^ON2R^^AR2Mb!Z(<%!?#0(&B!EQ1#9+%:"#X-:>.,"&,P#<!5#.D"2# N="+%&0-=#9%&'1B!G%4%5,#+)!>+,1!N!"@@A!K#:#'4#94%!#$! )$$+`aa<<<1$%4%5,#+)1-(1/Ca.'&-%a&%<0960%-$(,a9#&C0#&8.'&-%aR2@"@@@a?V0E94#=%E '=+($%&$EFT>E(:%,E3-%4#&8'-E9#&C01)$=4M1!
^2!!""U#"?)?U!?'-)#%4!I(,C%,6B!49%:%P1#(")*+%,.2I#4D"23%*+#D1?#,3"#Q%*+1"$+*">2-&,B!e#44!T$1!lm&4!Kl/&%! 2^!"@@AM!KPX(!6(/!)%#,!#&!%-)(!'&!e#0)'&5$(&r!1!1!1!'$!4((C0!#0!'.!$)%!W9#=#!#8='&'0$,#$'(&!)#0! 4#,5%46!+'-C%8!/+!$)%!$(,-)QM1!!G)%!WS>?>!VZWVWT>YT!'=+4'-'$46!#8(+$!$)%!>/0$,#4'#&E'&.4/%&-%8! =(8%4!-(&$#'&%8!'&!$)%!LT!G,%#0/,6m0!SYLJVZ3[GB!1*>2%!&($%!2B!'&!$)#$!$)%6!%&:'0#5%!0%+#,#$%! ,%5/4#$(,6!%&$'$'%0!.(,!=#,C%$!0$#9'4'$6!(,!060$%='-!,%5/4#$'(&!K$)%!F%8%,#4!Z%0%,:%!T60$%=MB! +,/8%&$'#4!,%5/4#$'(&!K#!&%<![#$'(!S#&C!T/+%,:'0(,MB!#&8!9/0'&%00!-(&8/-$!,%5/4#$'(&!K#!&%<! I(&0/=%,!F'&-'#4!V,(8/-$!I(=='00'(&M1!
! |
2H |
-(&0(4'8#$'(&B! #0! ,%-(==%&8%8! '&! $)%! $+*">2-&,! '0! &(<! %*$,%=%46! /&4'C%46B^"! $)%! 0$#5%!)#0!9%%&!0%$!.(,!#&!'&$%&0%!8%9#$%!<'$)'&!$)%!LT!#&8!9%6(&8!-(&-%,&'&5!$)%! +,(+%,! #,-)'$%-$/,%! (.! .'&-'#4! ,%5/4#$'(&! '&! $)%! ./$/,%1! ! G)%! ,%+4#-%=%&$! $(! $)%! $+*">2-&,B! =%46! $)%! WS>?>! VZWVWT>YTB^H! )#0! #4,%#86! 9%%&! 5,%%$%8! <'$)! <'8%0+,%#8!-(&$,(:%,06!<'$)'&!$)%!L&'$%8!T$#$%01^N#
!
V/94'-! +(4'-6! 8%9#$%! '0! %g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
!
! B"!!A/++/)#Q0,)-,12&<#/4#8&392*5,/)#*)=#>91&0?,<,/)#
!
>! <'8%! ,#&5%! (.! ,%5/4#$(,6! -(&-%+$0! )#0! #40(! %=%,5%8! .,(=! $)%! +,'=%:#4! 0(/+B! '&-4/8'&5!(&%!=#;(,!-(&-%+$/#4!9'./,-#$'(&1!!Z%5/4#$(,0!+%,)#+0!/&':%,0#446!,%5#,8! 060$%='-! (,! P=#-,(E+,/8%&$'#4Q! ,'0C! K$(! /0%! $)%! '&$%,$'(ƾ! -(==(&! $%,=! $)#$! )#0! %:(4:%8! .,(=! Pd%,0$#$$! Z'0CQM! $(! 9%! $)%! =(0$! '=+(,$#&$! #,%#! (.! .(-/0! .(,! ,%5/4#$'(&! #-,(00! 9(,8%,01! ! G)%! -(&$#5'(&! $)#$! (--/,,%8! (,! $),%#$%&%8! $(! (--/,! #0!
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
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
^"!WS>?>!VZWVWT>YTB!1*>2%!&($%!^B!,%.,#'&!.,(=!,%-(==%&8'&5!=(,%!$)#&!$)%!-(&0(4'8#$'(&!(.!$)%! W..'-%!(.!G),'.$!T/+%,:'0'(&!KWGTM!#&8!$)%!W..'-%!(.!$)%!I(=+$,(44%,!(.!$)%!I/,,%&-6!KWIIM!'&$(!#!&%<B! [#$'(!S#&C!T/+%,:'0(,1!!!""!-0?!#$!H"1!!>&8!&%<!%&$'$'%0!<(/48!#40(!9%!-,%#$%8B!'&-4/8'&5!#!=#;(,!
&%<!#5%&-6B!$)%!I(&0/=%,!F'&-'#4!V,($%-$'(&!>5%&-6!K1""!-0?#MB!#!&%<!F'&-'#4!T%,:'-%0!W:%,0'5)$! I(/&-'4!K0%%!-0?!#$!"@E"2M!#&8!#!-((,8'$'&5!W..'-%!(.![#$'(!3&0/,#&-%!K1""!-0?!#$!HAM1! ^H!WS>?>!VZWVWT>YTB!1*>2%!&($%!^1! ^N!F(,!%*#=+4%B!T%&1!I)#,4%0!T-)/=%,B!#!+(<%,./4!T%$(,!'&!9#&C'&5!#..#',0B!)#0!0%:%,%46!-,'$'-'7%8! $)%!WS>?>!VZWVWT>YT!.(,!.#'4'&5!$(!-(&0('8#$%!$)%!TJI!#&8!IFGI1!!!""!T'44#!S,/0)B!<-&%&=-%+# 4D"23%*+#Q+%O2%;1#E%&I#B2-,-=1B!G)%!d'44!l/&%!2^!"@@A!K#:#'4#94%!#$!)$$+`aa$)%)'441-(=a4%#8'&5E$)%E &%<0a<#44E0$,%%$E+4#&E8,#<0E=#&6E-,'$'-0E"@@AE@UE2^1)$=4M1!! ^R!!""!J/,(+%#&!I(/&-'4B!Q2"11#("+"%1"#YZ[\[MZ]B!OE2O!KV,(:'0'(!_%,0'(&!l/&%!A!"@@AM1# ^U!!""!1*>2%!$%*$!#--(=+#&6'&5!&($%0!NER1!
^^!!""#1*>2%!$%*$!#--(=+#&6'&5!&($%!^1! ^O!F(,!#&!%&$%,$#'&'&5!#--(/&$B!1""!?'-)#%4!Y%<'0B!<2.C"ǿ",1L##H%++#!,2"",#.,3"#G*&02%B!_#&'$6! F#',!ff!K>+,1!"@@AM!K#:#'4#94%!#$! )$$+`aa<<<1:#&'$6.#',1-(=a+(4'$'-0a.%#$/,%0a"@@Aa@Na'-%4#&8"@@A@NrM1!!G)%!F'&-'#4!G'=%0! -#,,'%0!#&!NO">,3!,%:'%<!(.!$)%!:#,'(/0!/&.(48'&5!8'=%&0'(&0!(.!$)%!3-%4#&8'-!-,'0'0!#$!
<<<1.$1-(=a'-%4#&81!!!F(,!#!=(,%!.(,=#4!#00%00=%&$B!1""!GdJ!GLZ[JZ!ZJ_3Je`!>!ZJDLY>GWZ]! ZJTVW[TJ!GW!GdJ!DYWS>Y!S>[c3[D!IZ3T3TB!1*>2%!&($%!"B!#$!HO!K"@@AM1!
! |
2N |
(.!-%&$,#4!9#&C0!$(!,%5/4#$%!$)%!.(,=%,!<)'4%!+4#-'&5!='-,(E+,/8%&$'#4!0/+%,:'0'(&! '&!$)%!)#&80!(.!/&'.'%8!,%5/4#$(,01^A!!G)%!#,-)'$%-$/,#4!0-)%=%0!#,%!-(=+4%*B!9/$!$)%! 4#&5/#5%! (.! ,%.(,=! ,%0$0! (&! +,'&-'+4%0! $)#$! #,%! =/-)! =(,%! -(==(&46! /&8%,0$((8! &(<!$)#&!$)%6!<%,%!.(,$6!6%#,0!#5(1!
!
>!&/=9%,!(.!($)%,!'=+(,$#&$!,%5/4#$(,6!-(&-%+$0B!,#&5'&5!.,(=!)(=%!:1!)(0$!0$#$%! ,%5/4#$'(&!$(!9#&C'&5!P+#00+(,$0Q!K#&8!9#-C!#5#'&wO@M!$(!#!-(==(&!&%%8!$(!+,(:'8%! #8%g/#$%!8%+(0'$(,!+,($%-$'(&!#&8!$)%!#00(-'#$%8!,'0C0!(.!=(,#4!)#7#,8BO2!)#:%!&(<! #40(! 5#'&%8! -/,,%&-6! %:%&! <)%,%! $)%! 0(4/$'(&0! #=(&5! $'(&0! )#:%! 9%%&! :%,6! 8'..%,%&$1!G)'0!'0!$)%!,%0/4$!(.!$,#&0$'(!'&$%,#-$'(&0!$)#$!)#:%!$#C%&!+4#-%!<'$)'&! #&8!(/$0'8%!(.!$)%!.(,=#4!+,#-$'-%0!(.!'&$%,$'(!4#<!#&8!'&!$)%!8':%,0%!.(,/=0! #4,%#86!8%0-,'9%8!#9(:%1!
!
e)#$! #44! (.! $)'0! #-$':'$6! '&8'-#$%0! '0! $)#$! $)%! +/94'-! +(4'-6! '00/%0! ,%4#$'&5! $(! '&$%,$'(!9#&C'&5!,%5/4#$'(&!)#:%!9%%&!;('&%8!(&!#!&%#,E54(9#4!0-#4%1!!T$,/-$/,%! #&8! +,'&-'+4%0! '=+(,$#&$! $(! ,%5/4#$'&5! '&$%,$'(! .'&-%! #,%! -(==(&46! /&8%,0$((8B!#49%'$!)'5)46!-(&$%0$%81!!G)%!0$#5%!#++%#,0!$(!9%!0%$!.(,!$)%!.(,=#$'(&!(.! #!060$%=#$'-!8'0-'+4'&%!(.!'&$%,$'(!9#&C'&5!,%5/4#$'(&!$(!=#$-)!$)%!%&(,=(/0! 0'5&'.'-#&-%!(.!=(8%,&!'&$%,$'(!.'&-%1!
!
!!!"##:)#HF-/<(<5&+M#/4#!)5&0)*5,/)*2#N,)*)-*)=#6*)7,)3#8&392*5,/)!
!
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
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
^A!G)%!WS>?>!VZWVWT>YTB!1*>2%!&($%!^B!<(/48!'=+(0%!=#-,(E+,/8%&$'#4!0/+%,:'0'(&!(:%,!0(E-#44%8! G'%,!3!.'&-'#4!)(48'&5!-(=+#&'%0!$)#$!+(0%!,'0C0!$(!$)%!.'&-'#4!060$%=1!!G)'0!0/+%,:'0'(&!<(/48!9%! :%0$%8!'&!$)%!)#&80!(.!$)%!F%8B!0/9;%-$!$(!-(&0/4$#$'(&!<'$)!#!&%<!F'&-'#4!T%,:'-%0!W:%,0'5)$!
I(/&-'4!-)#',%8!96!$)%!T%-,%$#,6!(.!$)%!G,%#0/,6!#&8!-(&0'0$'&5!(.!$)%!)%#80!(.!$)%!=#;(,!.%8%,#4!
.'&-'#4!,%5/4#$(,6!#5%&-'%01!!N0?!#$!"2E"^1! !!G)%!JL!<(/48!-,%#$%!#!J/,(+%#&!T60$%='-!Z'0C!S(#,8!$(!<(,C!<'$)!#!&%<!J/,(+%#&!T60$%=!(.! F'&-'#4!T/+%,:'0(,0!$(<#,8!0'='4#,!(9;%-$':%01!!!""!J/,(+%#&!I(/&-'4B!1*>2%!&($%!^R1! O@!!""!-&82%!$%*$!#--(=+#&6'&5!&($%0!2NHENN1! O2!!""!G)(=#0!F1!d%44=#&B!c%:'&!I1!?/,8(-C!h!l(0%+)!J1!T$'54'$7B!F-9"2%+-C%,-.&U#E.2%+#R%C%20#- $%&'-&)U#%&0#Q2*0"&,-%+#(")*+%,-.&L#52"#B%>-,%+#("^*-2":"&,1#6&.*)3T#-G)%!>=%,'-#&!J-(&1!Z%:1! 2N^!K"@@@Mb!1""!%+1.!e'44'#=!S/'$%,B!!"+8A(")*+%,-.E"%&1#/.#(")*+%,-.&B!F'&-'#4!G'=%0B!2@!>+,'4! "@@O1!K#:#'4#94%!#$!)$$+`aa94(501.$1-(=a=#:%,%-(&a"@@Oa@Na0%4.E,%5/4#$'(&E=%#&0E&(E,%5/4#$'(&aM! K%*+4#'&'&5!$)%!'=+4'-'$!=(,#4!)#7#,8!'&!0%4.!,%5/4#$'(&!#&8!$)%!&%%8!.(,!+,/8%&$'#4!,%5/4#$'(&M1! O"!!""!)"&"2%++IB!e%,&%,!F1!J9C%B!@+.9%+#6=.&.:IW@+.9%+#F%;B!'&!l1!S1!>$$#'(!h!l1l1![(,$(&B! ?LYG3Y>GJZ>Y3T?!_!L[3Y>GJZ>Y3T?`!!VWY3I]!IdW3IJT!3[!>!DYWS>Y!TWI3JG]!OH!K"@@NM! K8%0-,'9'&5!$)%!8'=%&0'(&0!(.!$)%!'=+#-$!(.!P54(9#4'7#$'(&Q!(&!$)%!%=%,5%&-%!(.!P54(9#4!4#<Q!'&! :#,'(/0!#,%#0M1! OH!>--(,8'&5!$(!$)%!3&$%,$'(!?(&%$#,6!F/&8!K3?FM!.'&-'#4!54(9#4'7#$'(&B!=%#0/,%8!96!5,(00! %*$%,!#00%$0!#&8!4'#9'4'$'%0!#0!#!0)#,%!(.!5,(00!8(=%0$'-!+,(8/-$B!)#0!$,'+4%8!0'&-%!2A^@. 3&$%,$'(!?(&%$#,6!F/&8B!("%>-&)#,3"#$"&"8-,1#.8#N&,"2&%,-.&%+-C%,-.&!O!KZ%0%#,-)!V#+%,B!l/&%!
! |
2R |
=($':#$'(&!.(,!%*#='&'&5!$)%!+,%='0%0!#&8!,'0C0!/+(&!<)'-)!$)'0!,%#4'$6!,%0$01!!e%! )#:%! 9%%&! 0)#,+46! ,%='&8%8! $)#$! .'&-'#4! '&$%,-(&&%-$%8&%00B! :'$#4! #0! '$! '0! $(! $)%! =(8%,&! <(,48BON! #40(! -#,,'%0! %&(,=(/0! ,'0C01OR! ! >,-#&%! '00/%0! (.! '&$%,$'(! %-(&(='-!+(4'-6!#&8!.'&-'#4!,%5/4#$'(&!)#:%!9%%&!$),/0$!'&$(!$)%!+/94'-!0+($4'5)$1OU!!!
!
]%$!#! +#,#8(*! (.! (/,! 0(E-#44%8! P.4#$! <(,48QO^! '0! $)#$! #4$)(/5)! '&$%,$'(! .'&-%!
.4(<0! ,#+'846! #&8! #4=(0$! .,%%46! $)%! 2")*+%,-.&! (.! $)'0! #-$':'$6! '0! (.$%&! =/,C6B! '&.(,=#4! #&8! 8'..'-/4$! $(! -4#00'.6! <'$)'&! $)%! $,#8'$'(! -#$%5(,'%0! (.! '&$%,$'(! 4#<1!!G)%!&%$!%..%-$!'0!$)#$!<%!)#:%!#,-)'$%-$/,%0!#&8!+,(-%00%0!(.!,%5/4#$'(&!$)#$!8(! &($!%=#$%!.,(=!P#/$)(,'$#$':%Q!0(/,-%0!#&8!#,%!&($!%&.(,-%8!96!(,$)(8(*!=%#&01!
!
V%,)#+0! %:%&! =(,%! +%,+4%*'&5! .(,! 4#<6%,0! '0! $)#$! $)'0! 060$%=! )#0! %=%,5%8! #&8! -(&$'&/%0! $(! %:(4:%! #4=(0$! %&$',%46! .,%%! .,(=! $)%! 9%#-(&0! (.! ;/8'-'#4! 8%-'0'(&! #&8! '&$%,+,%$#$'(&`!!$)%!P4#<BQ!0/-)!#0!'$!'0B!(.!'&$%,$'(!9#&C'&5!,%5/4#$'(&!'0!&($!$(! 9%!.(/&8!'&!-(8%0B!0$#$/$%0!(,!-#0%!4#<1!!G)%,%!#,%!&(!#/$)(,'$#$':%!,/4'&50!$(!<)'-)! #55,'%:%8! 8%&'7%&0! (.! $)%! 060$%=! ='5)$! )#:%! ,%-(/,0%! $(! :'&8'-#$%! $)%',! -4#'=01!! Z#$)%,B!$)'0!P4#<Q!'0!8%+%&8%&$!(&!0)'.$'&5!+,'&-'+4%0!(.!+,/8%&-%B!+(4'-6!#&8!4(-#4! -%&$%,0! (.! +(<%,B! 0/-)! #0! $)%! (+'&'(&! #&8! 8'0+(0'$'(&! (.! 0+%-'.'-! ,%5/4#$(,0! (,! -%&$,#4!9#&C01!
!
G(!$)%!%*$%&$!$)#$!$)'0!&(,=#$':%!%8'.'-%!8(%0!&($!.'$!$)%!(,$)(8(*6!(.!4%5#4!#nj'0B! '$!5%&%,#$%0!-(&$,(:%,0'%0!-(&-%,&'&5!'$0!4%5'$'=#-6!#&8!+(00%00%0!#!0)#8(<6B!%:%&! -)#($'-!-(=+4%*'(&1!!?#&6!8'#5&(0%0!(.!$)%!-#/0%0!(.!$)%!DFI!'8%&$'.6!8(=%0$'-!#&8! '&$%,$'(!P,%5/4#$(,6!#,9'$,#5%Q!#0!(&%!(.!$)%!-(&$,'9/$(,01OO!!]%$!'$!0%%=0!$)#$!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
"@@^M!K#:#'4#94%!#$!)$$+`aa<<<1'=.1(,5a%*$%,a&+a,%0a8(-0a"@@^a@U@^1)$=M1!!J:%&!4(<E!#&8! ='884%E'&-(=%!$'(&0!)#:%!%*+%,'%&-%8!0/90$#&$'#446!'&-,%#0'&5!.'&-'#4!'&$%,-(&&%-$%8&%00! 8/,'&5!$)'0!$'=%1!!F(,!#!8%0-,'+$'(&!(.!$)%!=%$)(8(4(56!.(,!=%#0/,'&5!P.'&-'#4!54(9#4'7#$'(&BQ!1""!-0!
#$!U1!!>!-(/&$%,:#'4'&5!$)(/5)!4'C%46!$%=+(,#,6!$,%&8B!.4(<'&5!.,(=!$)%!-/,,%&$!.'&-'#4!-(44#+0%B!'0!#! 0/90$#&$'#4!8%5,%%!(.!P8%E54(9#4'7#$'(&Q!%&$#'4'&5!<)#$!)#0!9%%&!8%0-,'9%8!#0!#!P-(44#+0%Q!(.!.'&-'#4! -,(00E9(,8%,!.4(<0!8,':%&!96!#&!'&-,%#0'&5!P)(=%!9'#0Q!(.!+(,$.(4'(01!!!""!I),'0$'#&!S,(8#B!V%',(!
D)%77'!h!J8/#,8(!Y%:6E]%6#$'B!G3"#/";#@+.9%+#$%+%&="L##<-&%&=-%+#_O"A@+.9%+-1%,-.&U`#!%D-&)1#O2%- %&0#,3"#7!#O.++%2B!_(*!?#6!""!"@@A!K#:#'4#94%!(&4'&%!#$! )$$+`aa<<<1:(*%/1(,5a'&8%*1+)+rgs&(8%aHRAUM1! ON!3&$%,$'(!?(&%$#,6!F/&8B!("%>-&)#,3"#$"&"8-,1B!1*>2%!&($%!OHB!#$!OEA1!!! OR!F(,!#!8'0-/00'(&!(.!$)%!=%-)#&'-0!(.!$)%!0+,%#8!(.!.'&-'#4!0$,%00!#&8!'$0!8'0+,(+(,$'($%!'=+#-$! (&!4%00!8%:%4(+%8!%-(&(='%0!<'$)'&!$)%!-(&$%*$!(.!$)%!DFIB!1""U#"?)1B!Z#:'!S#4#C,'0)&!%$!#41B!!R.;# 8-&%&=-%+#1,2"11#1>2"%01#a#5#8-21,#=.:>2"3"&1-D"#+..'#%,#,3"#=*22"&,#=2-1-1B!_(*!>+,1!"^!"@@A! K)$$+`aa<<<1:(*%/1(,5a'&8%*1+)+rgs&(8%aHR@@Mb 1""!%+1.!3?F!T$#..B!@+.9%+-C%,-.&L##5#$2-"8# 4D"2D-";!300/%0!S,'%.!@Oa@"!K?#6!"@@OM!K#:#'4#94%!#$! )$$+`aa<<<1'=.1(,5a%*$%,a&+a%*,a'9a"@@Oa@RH@@O1)$=M1!! OU!F(,!#!8%$#'4%8!,%:'%<!(.!$)%!54(9#4'7#$'(&!+)%&(=%&(&!#&8!'$0!'=+4'-#$'(&!.(,!4%5#4!#nj'0B!1""B! "?)?B!S(/44%B!1*>2%!&($%!2HB!#$!2ENH1! O^!G)(=#0!Y1!F,'%8=#&B!GdJ!eWZYX!3T!FY>G`!!>!SZ3JF!d3TGWZ]!WF!GdJ!GeJ[G]EF3ZTG!IJ[GLZ]! K"@@^M1! OO!Z%5/4#$(,6!#,9'$,#5%!,%.%,0!$(!$)%!P)#:%&!0%%C'&5Q!9%)#:'(,!(.!'&$%,$'(!.'&-'#4!'&0$'$/$'(&0! $)#$!0%%C!$(!$#C%!#8:#&$#5%!(.!=(,%!4%&'%&$!;/,'08'-$'(&0!#&8!5#+0!(,!8'0-(&&%-$0!9%$<%%&!,%5/4#$(,6! 060$%=0!'&!(,8%,!$(!#:('8!0(=%!(,!#44!,%5/4#$'(&!#&8!%&5#5%!'&!#-$':'$'%0!$)#$!<(/48!($)%,<'0%!9%! +,()'9'$%8!'&!#!)(0$!;/,'08'-$'(&1!!F(,!#!8'0-/00'(&!(.!,%5/4#$(,6!#,9'$,#5%!#0!'$!#++4'%0!$(!-#+'$#4! 0$#&8#,80B!1""!X#:'8!l(&%0B!6:"2)-&)#Q2.9+":1#;-,3#,3"#$%1"+#B%>-,%+#5==.20L#(")*+%,.2I#B%>-,%+#
! |
2U |
<%! #,%! 0)(,$! (.! #! ;/,'0+,/8%&-%! (.! '&$%,$'(! 9#&C'&5! ,%5/4#$'(&! #$! $)%! :%,6! =(=%&$!<%!#40(!&%%8!'$!=(0$1!!
!
3$! 0%%=0! 9%&%.'-'#4! $(! 8,#<! (&! 0(=%! (.! $)%! '&0'5)$0! (.! -(=+4%*'$6! $)%(,6! .(,! /&8%,0$#&8'&5! $)%! $/,%! (.! $)%! P%-(0+)%,%Q! <'$)'&! <)'-)! '&$%,$'(! 9#&C! ,%5/4#$'(&! '0! %:(4:'&51OA! ! G)'0! +#+%,! 0/55%0$0! $)#$! <%! -#&! 5#'&! /&8%,0$#&8'&5! 96! :'%<'&5! '&$%,$'(! 9#&C! ,%5/4#$'(&! $),(/5)! $)%! '&$%,8'0-'+4',6! 4%&0%0! (.! -(=+4%*'$6!$)%(,6B!<)'-)!<(/48!-(&0'8%,!$)#$!$)'0!,%5/4#$(,6!,%5'=%!8%:%4(+0!#&8!
./&-$'(&0! #0! #! -(=+4%*! <%9B! #! <%9! $)#$! '0! -(&0$#&$46! #8#+$'&5! <'$)'&B! #&8! '$0%4.! 0)#+'&5B! $)%! #=(,+)(/0! .'&-'#4! P%-(0+)%,%Q! '$! +/,+(,$0! $(! ,%5/4#$%B! #&8! $)#$!
#$$%=+$0!$(!#Ǔ%!$)%!-(,+/0!(.!'&$%,$'(!9#&C'&5!,%5/4#$'(&!#,%!$)%=0%4:%0! K(.$%&! /&<'$$'&546M! '44/0$,#$'&5! +,'&-'+4%0! (.! -(=+4%*'$6! $)%(,6! '&! #! <#6! $)#$! 8%=(&0$,#$%0!<)6!$)%!$)%(,6!'0!/0%./41!
!
3&$%,$'(!9#&C'&5!#&8!'$0!&(,=#$':%!.,#=%<(,C!#++%#,!$(!+(00%00!=#&6!(.!$)%! %4%=%&$0! -(&0'8%,%8! 96! -(=+4%*'$6! $)%(,'0$0! $(! -)#,#-$%,'7%! -(=+4%*! #8#+$':%! 060$%=0B! =%46! &(&4'&%#,'$6B! +#$)! 8%+%&8%&-6B! P+(<%,! 4#<0BQ! 0/0-%+$'9'4'$6! $(! -)#($'-!%:%&$0B!.,#-$#4!8'=%&0'(&0B!&%$<(,C!#,-)'$%-$/,%!#&8!%=%,5%&-%1A@!!
!
:"# # F2&+&)5<# /4# A/+12&R,5(# $%&/0(# 8&2&?*)5# 5/# *)# S)=&0<5*)=,)3# /4# !)5&0)*5,/)*2#6*)7#8&392*5,/)#
!
>4$)(/5)!8%:%4(+%8!.,(=!$)%!P)#,8Q!(,!$/,#4!0-'%&-%0B!-(=+4%*'$6!$)%(,6!-(&$#'&0! #!)(0$!(.!-(&-%+$0!0%%='&546!,%4%:#&$!$(!#&!/&8%,0$#&8'&5!(.!'&$%,$'(!9#&C'&5! ,%5/4#$'(&!K(,!#&6!($)%,!4%5#4!,%5'=%!.(,!$)#$!=#$$%,M1A2!!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
529-,2%)"#%&0#("+%,"0#N11*"1B!"N!l1!S#&C'&5!h!F'&1!HR!K"@@@M1!!!Z%5/4#$(,6!#,9'$,#5%!<#0!'8%&$'.'%8!#0! #&!'=+(,$#&$!-(&$,'9/$'&5!.#-$(,!$(!$)%!-/,,%&$!-,'0'01!!!""U#"?)?U#WS>?>!ZJVWZGB!1*>2%!&($%!^B!#$!NA1! OA!>4$)(/5)!#!6(/&5!8'0-'+4'&%B!-(=+4%*'$6!$)%(,6!)#0!#4,%#86!8%:%4(+%8!#!:#0$!4'$%,#$/,%1!!F(,!#!:%,6!
#--%00'94%B!5%&%,#4!'&$,(8/-$'(&B!1""!?%4#&'%!?'$-)%44B!IW?VYJi3G]`!!>!DL3XJX!GWLZ!K"@@AM1!!F(,!#&! #++4'-#$'(&!(.!$)%!,%4#$%8!0-'%&-%!(.!060$%=0!$)%(,6!$(!$)%!,%#4=!(.!,%5/4#$(,6!+(4'$'-0B!1""!I(4'&! T-($$B!(")*+%,-.-,3"#5)"#.8#@.D"2&%&="L##G3"#(-1"#.8#,3"#Q.1,A(")*+%,.2I#!,%,"B!-&!l#-'&$!l(,8#!h! X#:'8!Y%:'EF#/,!K%801M!GdJ!VWY3G3IT!WF!ZJDLY>G3W[B!#$!2R@ERN!K"@@NM!K(/$4'&'&5!$)%!4%5#4!$)%(,6! (.!#/$(+'%0'0B!(,!0%4.E+,(8/-'&5!060$%=0!(.!4%5#4!&(,=0M1! A@!G)'0!-(=+4%*'$6!,%0'8%0!#$!9($)!$)%!=#-,(E!#&8!='-,(E4%:%40B!+%,)#+0!#0!'44/0$,#$'(&!(.!$)%!.,#-$#4! g/#4'$'%0!(.!$)%!'&$%,$'(!9#&C'&5!%-(0+)%,%!'$0%4.1!!W&!$)%!.,#-$#4!8'=%&0'(&!(.!-(=+4%*'$6!$)%(,6B! 1""B!"?)1B!?'$-)%44B!1*>2%!&($%!OAB!#$!2@HE@U1!!F(,!#!8'0-/00'(&!(.!-(=+4%*'$6!#$!$)%!='-,(4%:%4!'&!
.'&-'#4!0%,:'-%0B!1""U#"?)1B!T$%:%&!Y1!T-)<#,-7B!(")*+%,-&)#B.:>+"J-,I#-<-&%&=-%+#E%2'",1B!
.(,$)-(='&5!O^!e#0)1!L1!Y1!Z%:1B!300/%!"!K"@@AE2@M"# A2!F(,!#!.%<!(.!=#&6!%*#=+4%0!(.!$)%!#++4'-#$'(&!(.!-(=+4%*'$6!$)%(,6!$(!4%5#4!'00/%0B!1""!T-)<#,-7B! 1*>2%!&($%!A@b!l#='%!?/,,#6B!I(=+4%*'$6!G)%(,6!h!T(-'(EY%5#4!T$/8'%0B!"A!Y':%,+((4!Y#<!Z%:1!""^! K"@@OM!#:#'4#94%!(&4'&%!#$`!)$$+`aa<<<10+,'&5%,4'&C1-(=a-(&$%&$a,^OOUUOOO"+2^N2Ra./44$%*$1+8.Mb! I)#,4%0!c1!e)'$%)%#8B!H3%,P1#K.*2#!-)&TWN&,"2&%,-.&%+#/.2:1U#!-)&%+1U#%&0#B.:>+-%&="B!"^!?'-)1!l1! 3&$m4!Y!UAR!K"@@UMb!X(0!G1!d(,&0$%'&B!B.:>+"J-,I#G3".2IU#50%>,%,-.&U#%&0#50:-&-1,2%,-D"#F%;B!RN! X/C%!Y1!l1!A2H!K"@@RMb!l1S!Z/)4B!(")*+%,-. I#50%>,-D"#E%&%)":"&,L##N1#N,#Q.11-9+"TB!^!?'&&1!l1!Y1!T-'1!h! G%-)1!"2!K"@@RMbX#&'%4!>1!F#,9%,B!Q2.9%9-+-,-"1#$"3%D-&)#$%0+IL##B.:>+"J-,I#,3".2I#%&0#6&D-2.&:"&,%+# 7&="2,%-&,IB!H^!L1!I#41!X#:'0!Y1!Z%:1!2NR!K"@@HMb!l1S1!Z/)4!h!l#=%0!T#47=#&B!E.C%2,#%&0#,3"#("0#b*""&L## G3"#Q2.9+":#.8#(")*+%,.2I#5==2",-.%&0#,3"#50:-&-1,2%,-D"#!,%,"B!A2!D%(1!Y1l1!#^R^!K"@@HMc#l1S1!Z/)4B! B.:>+"J-,I#G3".2I#%1#%#Q%2%0-):#8.2#,3"#OI&%:-=%+#F%;A%&0A!.=-",I#!I1,":L##5#H%'"#a7>#B%++#8.2# F")%+#("0*=,-.&-1:#%&0#,3"#E.0"22:-&-1,2%,-D"#!,%,"!NR!X/C%!Y1l1!ONA!K2AAUM!!b!!l1!S1!Z/)4B!N1#
! |
2^ |
!
!
!
@" A/+12&R,5(!
!
PI(=+4%*!060$%=0Q!)#:%! 9%%&! 8%.'&%8!'&! =#&6! <#601! !?'-)%44%! ?'$-)%44!(..%,0! $)'0! <(,C'&5!8%.'&'$'(&`!
!
p>!-(=+4%*!060$%=!'0q!#!060$%=!'&!<)'-)!4#,5%!&%$<(,C0!(.!-(=+(&%&$0!<'$)! &(! -%&$,#4! -(&$,(4! #&8! 0'=+4%! ,/4%0! (.! (+%,#$'(&! 5':%! ,'0%! $(! -(=+4%*! 9%)#:'(,B!0(+)'0$'-#$%8!'&.(,=#$'(&!+,(-%00'&5B!#&8!#8#+$#$'(&!:'#!4%#,&'&5! (,!%:(4/$'(&1A"!
#
I(=+4%*'$6! $)%(,'0$0! +('&$! $(! %-(&(='-! =#,C%$0! #0! (&%0! $)#$! +(00%00! 0/-)! -)#,#-$%,'0$'-01! ! >8#=! T='$)m0! P/&0%%&! )#&8Q! =60$%,'(/046! 5%&%,#$'&5! =#,C%$! %..'-'%&-6!'0!(.$%&!-'$%8!#0!#&!%*#=+4%!(.!$)%!g/#4'$6!(.!P%=%,5%&-%Q!$)#$!(&%!.'&80!'&! $,/46! -(=+4%*! 060$%=01AH! ! Y%5#4! (,8%,0k+%,)#+0! =(0$! :'0'946! $)%! -(==(&! 4#<k #40(!0%%=!$(!'44/0$,#$%!$)%!g/#4'$'%0!(.!$,/%!-(=+4%*'$61!
!
B" L/)2,)&*0,5(!
!
Y'&%#,! 060$%=0! -#&! 9%! /&8%,0$((8! 96! $)%! 0/=! (.! $)%',! +#,$0B! 9/$! Pp#q! &(&4'&%#,! 060$%=!'0!(&%!'&!<)'-)!$)%!<)(4%!'0!8'..%,%&$!.,(=!$)%!0/=!(.!'$0!+#,$01QAN!!G)%!-)#'&! ,%#-$'(&0!$)#$!+,(4'.%,#$%!'&!=/4$'+4%!8',%-$'(&0!$(!+,(8/-%!#!-(=+(/&8'&5!,%0/4$0B! 0/-)! #0! $)%! 060$%=E<'8%! .,%%7%! (.! -,%8'$! =#,C%$0! '&! $)%! <#C%! (.! ,%#-$'(&0! $(! $)%!
.#'4/,%! (.! (&%! C%6! .'&-'#4! '&0$'$/$'(&k.(,! %*#=+4%! d%,0$#$$! S#&C! (,! Y%)=#&! S,($)%,0k+,(:'8%! $)%! C'&8! (.! &(&4'&%#,! 86='-! $)#$! '44/0$,#$%0! <)6! .'&-'#4! 060$%=0!-#&&($!9%!./446!/&8%,0$((8!'&!4'&%#,!$%,=01AR#
!
E" Q*5%#=&1&)=&)-(#
!
V#$)! 8%+%&8%&-6! '0! 0(=%$'=%0! 8%0-,'9%8! #0! 0%&0'$':'$6! $(! '&'$'#4! -(&8'$'(&01AU! ! 3&! ($)%,!<(,80B!0=#44!-)#&5%0!'&!'&+/$!-#&!)#:%!:%,6!4#,5%!'=+#-$!(&!(/$+/$1A^!!G)'0!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
B.:>+"J-,I#G3".2I#E.2"#,3%%#E",%>3.2#8.2#F%;B!l/,'086='-0!l/46!"^B"@@U!K#:#'4#94%!#$! )$$+`aa;/,'086='-0194(50+($1-(=a"@@Ua@^a'0E-(=+4%*'$6E$)%(,6E=(,%E$)#&1)$=4M1!!F(,!#&! %*$%&0':%!-(=+'4#$'(&!(.!4%5#4!0-)(4#,0)'+!#++46'&5!-(=+4%*'$6!$)%(,6B!1""!l1S1!Z/)4B!B.:>+"J-,I# G3".2I#-F")%+#!=3.+%213->B!l/,'086='-0!l/46!"^B"@@UM!K#:#'4#94%!#$! )$$+`aa;/,'086='-0194(50+($1-(=a"@@Ua@^a-(=+4%*'$6E$)%(,6E'&E4%5#4E0-)(4#,0)'+1)$=4Mb!#&8!$)%! -'$#$'(&0!'&!$)%!,%-%&$!#,$'-4%!96!D,%5(,6!G(88!l(&%0B!OI&%:-=%+#S*2-1>2*0"&="L##F%;#%1#%#B.:>+"J# !I1,":B!"N!D%(1!T$1!L1!Y1!Z%:1!O^H!K"@@OM1! A"!?'$-)%44B!1*>2%!&($%!OAB!#$!2H1!!W&!P%=%,5%&-%BQ!1""#-&82%!$%*$!#--(=+#&6'&5!&($%0!22UE"21! AH!!""!?'$-)%44B!1*>2%!&($%!OAB!#$!2@1! AN!!N0?!#$!"Hb!1""!%+1.!Z(9%,$!>*%4,(8!h!?'-)#%4!X1!I()%&B!d>Z[JTT3[D!IW?VYJi3G]!2N!K2AAAM1! AR!W&!S#&C!d%,0$#$$B!1""!1*>2%!$%*$!#--(=+#&6'&5!&($%0!H^EHO1!!W&!Y%)=#&B!1""!-&82%!$%*$!
#--(=+#&6'&5!&($%!2@O1! AU!!""B!"?)1B!?#,C!l1!Z(%B!B3%.1#%&0#6D.+*,-.-F%;#%&0#6=.&.:-=1B!2@A!d#,:1!Y1!Z%:1!UN2!K2AAUMb! d(,&0$%'&B!1*>2%!&($%!A2B!#$!A2Hb!l1S1!Z/)4B!B.:>+"J-,I#G3".2I#%1#%#Q%2%0-):#8.2#,3"#OI&%:-=%+#F%;A
! |
2O |
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n0!/&'g/%!+(4'$'-#4!#&8!-/4$/,#4!'&0$'$/$'(&0B!-)#($'-!-)#&-%!%:%&$0B!(,!$)%!.#-$! $)#$!0/&C!-(0$0!=#C%!'&%..'-'%&$!.(,=0!,%5,%$$#94%!9/$!&($!<(,$)!-)#&5'&51AA!
!
T" HQ/;&0#2*;<GM#40*-5*2<#*)=#5%H&=3&<#/4#-%*/<M#
#
V(<%,! 4#<0! #&8! .,#-$#40! )#:%! $(! 9%! /&8%,0$((8! $(5%$)%,1! ! >! .,#-$#4# '0! 5%&%,#446! 8%.'&%8! #0! #! P5%(=%$,'-! 0)#+%! $)#$! )#0! x.'&%! 0$,/-$/,%! #$! %:%,6! 0-#4%Bm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g/#4'$6!(.!0(-'#4!(,!%-(&(='-!(,5#&'7#$'(&B!'&!<)'-)!P+(<%,!4#<0Q!#,%!5%&%,#$%812@R!! G)%! P-)#(0Q! $)%6! -,%#$%! 9%-(=%0! /&8%,0$#&8#94%! #0! (&%! 9%5'&0! $(! #++,%-'#$%! $)%! -(=+4%*!$/,%!#&8!#,-)'$%-$/,%!(.!0/-)!060$%=012@U!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
%&0A!.=-",I#!I1,":L#5#H%'"A7>#B%++#8.2#F")%+#("0*=,-.&-1:#%&0#,3"#E.0"22:-&-1,2%,-D"#!,%,"B!NR! X/C%!Y1l1!ONAB!A2UE"U!K2AAUM1!!
A^!!""!d(,&0$%'&B!1*>2%!&($%!A2B!#$!A"U!K"@@RM1#
AO!N0?!
AA!N0?!#$!A"^1!!T$,'-$46!0+%#C'&5B!(&%!0)(/48!8'..%,%&$'#$%!9%$<%%&!>%,3#8%+%&8%&-%!K$)%!+#$)!(.!+,'(,! (/$-(=%0!'0!'=+(,$#&$MB!1,%,"#8%+%&8%&-%!K#!.'&'$%!&/=9%,!(.!8'0$'&-$B!+,%:'(/0!0$#$%0!-#&!9%!'0(4#$%8! '&!,%4#$'(&!$(!(/$-(=%0M!#&8!<)#$!T-($$!V#5%!$%,=0!>3%,#8%+%&8%&-%!K+#$)!%:%&$0!=#$$%,B!9/$!&($!$)%! (,8%,!(.!$)%!:%&$0M`!!1""!T-($$!J1!V#5%B!Q%,3#O">"&0"&="B!2!v1!l&4!V(41!T-'1!O^!K"@@UM!.(,!#!=/-)!./44%,! %4#9(,#$'(&!(.!+#$)!8%+%&8%&-%!#0!#!-(,%!-(=+4%*'$6!-(&-%+$1#
2@@!?'$-)%44B!1*>2%!&($%!OAB!#$!2@H1! 2@2!3$!'0!$%=+$'&5!$(!0/55%0$!$)#$!$)%!8/#4E4#6%,!0$,/-$/,%!9%'&5!+,(+(0%8!.(,!9($)!$,#&0$'(! 060$%='-!,'0C!0/+%,:'0'(&!#&8!060$%='-!,'0C!0/+%,:'0'(&!#$!$)%!8(=%0$'-!4%:%4!K1""#1*>2%B!$%*$!
#--(=+#&6'&5!&($%0!^"E^RM!'0!#&!'44/0$,#$'(&!(.!$)%!.,#-$#4!g/#4'$6!(.!,%5/4#$(,6!0$,/-$/,%0!%=%,5'&5! '&!'&$%,$'(!9#&C'&5!,%5/4#$'(&1! 2@"!?'$-)%44B!1*>2%!&($%!OAB!#$!2@A!Kg/($'&5!d%,9%,$!T'=(&B!GdJ!>ZId3GJIGLZJ!WF!IW?VYJi3G]! K2AU"MM1!
2@H!N0?!#$!"UN1! 2@N![#00'=!['-)(4#0!G#4%9B!GdJ!SY>Ic!Te>[`!!GdJ!3?V>IG!WF!GdJ!d3DdY]!3?VZWS>SYJ!K"@@^M1#
2@R!!""B!"?)?U!?'-)%4%!\#&'&'B!Q.;"2#B*2D"1L`#H3%,#/%,*2%+#%&0#6=.&.:-=#O-1%1,"21#R%D"#-B.::.&B! ?-c'&0%6!h!I(1!W&4'&%!l(/,!Kl/&%!"@@AM!K#:#'4#94%!#$! )$$+`aa<<<1=-C'&0%6g/#,$%,461-(=aV(<%,f-/,:%0fe)#$f$/,#4f#&8f%-(&(='-f8'0#0$%,0f)#:%f'&f -(==(&f"H^UM1 !
2@U!!""!?'$-)%44B!1*>2%!&($%!OAB!#$!"UNE^"1!
! |
2A |
3$!0%%=0!$)#$!4%5#4!060$%=0!(.!0/-)!-(=+4%*'$6!#&8!'&$%,-(&&%-$%8&%00!#0!$)%!(&%!'&! <)'-)!54(9#4!9#&C'&5!%*'0$0!#,%!#4<#60!(&!$)%!P+('0%8!%85%!(.!-)#(01Q2@^!!G)%!,%-%&$! -(44#+0%!(.!Y%)=#&!S,($)%,0!+,(:'8%0!#!8,#=#$'-!%*#=+4%1!!>.$%,!9%'&5!-,'$'-'7%8!.(,!
.#-'4'$#$'&5!$)%!#-g/'0'$'(&!96!l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c#/..=#&m0! (90%,:#$'(&0! .,(=! #! .'%48! (.! $/,#4! 0-'%&-%! 0%%=! %g/#446! #++(0'$%! $(! $)'0!%*+%,'%&-%`!
!
3&!0/-)!#!+('0%8!<(,48B!<%!=/0$!5':%!/+!$)%!+,%$%&0%!(.!4(&5E$%,=!+,%8'-$'(&1!! e%! -#&&($! C&(<! $)%! $,/%! -(&0%g/%&-%0! (.! (/,! (<&! 9%0$! #-$'(&01! ! >44! <%! +4#6%,0!-#&!8(!'0!9%!4(-#446!<'0%B!&($!54(9#446!<'0%12@A!
!
U" L&5;/07#*0-%,5&-590
!!!
[%$<(,C!0-'%&-%!)#0!,#+'846!=#$/,%8!0'&-%!$)%!%=%,5%&-%!(.!$)%!e(,48!e'8%!e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k$)%! '&$%,-(&&%-$%8&%00! (.! %-(&(='%0B! =#,C%$0! #&8! =#,C%$! +#,$'-'+#&$0k.(,! '$0! =%#&'&5122N! ! >0! <%! <'44! 0%%! 9%4(<B! &%$<(,C! $)'&C'&5! )#0! 9%-(=%! -%&$,#4! $(! $)%! /&8%,0$#&8'&5!(.!'&$%,$'(!9#&C!,%5/4#$'(&122R!!!!
!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
2@^!T$/#,$!c#/..=#&B!>G!dW?J!3[!GdJ!L[3_JZTJ`!!GdJ!TJ>ZId!FWZ!GdJ!Y>eT!WF!TJYFE WZD>[3\>G3W[!>[X!IW?VYJi3G]B!"O!K2AARM1!!!G)(/5)!(&46!2R!6%#,0!(48B!c#/..=#&m0!9((C!)#0! 9%-(=%!#!-4#00'-!'&!$)%!.'%48!(.!-(=+4%*'$6!$)%(,6!#&8!'0!#&!%4%5#&$!'&$,(8/-$'(&!$(!(/,!-(=+4%*!<(,48! (.!P8#&-'&5!4#&80-#+%01Q! 2@O!F(,!#!8%0-,'+$'(&!(.!$)%!%:%&$0B!1""U#"?)1B!D'44'#&!G%$$B!FWWYmT!DWYX`!dWe!>[!3[DJ[3WLT!GZ3SJ!WF! S>[cJZT!ZJeZWGJ!GdJ!ZLYJT!WF!F3[>[IJB!?>XJ!>!FWZGL[J!>[X!TLZ_3_JX!>!I>G>TGZWVdJB! K"@@AM1!!G)%!-(44#+0%!(.![(,$)%,&!Z(-C!'&!$)%!L&'$%8!c'&58(=!+,(:'8%0!#!0'='4#,!%*#=+4%!(.!#!+4/&5%! '&$(!$)%!#9600!(.!4'g/'8'$6!-)#(01!!!""U#"?)?U!DYWS>Y!F3[>[I3>Y!TG>S3Y3G]!ZJVWZGB!1*>2%!&($%!"B!#$!Nb! GLZ[JZ!ZJVWZGB!1*>2%!&($%!"B!#$!"^1#
2@A!c#/..=#&B!1*>2%!&($%!2@^B!#$!"A1! 22@!!""B!"?)1B!>49%,$EYy074z!S#,#9y0'B!Y3[cJX`!!GdJ![Je!TI3J[IJ!WF![JGeWZcT!K"@@"Mb!?'$-)%44B! 1*>2%!&($%!OAB!#$!I)1!2R!KPG)%!T-'%&-%!(.![%$<(,C0QM1!
222!!""!?'$-)%44B!1*>2%!&($%!OAB!#$!"HN1! 22"!N0?!#$!"HH1!
22H!F(,!#&!#nj'0!(.!$)%!P&%$<(,C%8!%-(&(=6BQ!1""!S#,#9y0'B!1*>2%!&($%!22@B!-)1!2N!KPG)%!F(/,$%%&$)! Y'&CQM1!
22N!!""!T-)<#,-7B!1*>2%!&($%!A@B!#$!V#,$0!331I!#&8!3331! 22R!!""!8'0-/00'(&!-&82%#V#,$!3331S1"1!
! |
"@ |