Corridor Of Power
This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA
Overview
Download & View Corridor Of Power as PDF for free.
More details
- Words: 2,077
- Pages: 51
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
!"!!"#$$%&#$!#'!(#)*$
!"#$%&'()&'*#+(,$% A%SAN
A)).-(*5(.+$./$%.85"#*)5$A)(*+$N*5(.+)
9!]
93(5()"$!"#34*,$]+(5H$*$4#*)83#4#+5$./$#+#31K$-.+)84:5(.+
EN<E
E"(+*$N*5(.+*,$<#53.,#84$E.3:.3*5(.+
&A?^
&*)$A85".3(5K$./$?+7(*H$^57
MK*5
5"#$.//(-(*,$-833#+-K$./$9834*
MI&A%
M.3#*$&*)$E.3:.3*5(.+
'9!]
.+#$4(,,(.+$9!])_
''EOV
4(,,(.+$-8@(-$/##5$:#3$7*K
'I&S
'K*+4*3$I(,$*+7$&*)$S+5#3:3()#
'I]
'#4.3*+784$./$]+7#3)5*+7(+1
IN&E `(7#)" I(,$*+7$N*583*,$&*)$E.3:.3*5(.+$`(7#)"H$^57 <%E
<3.78-5(.+$%"*3(+1$E.+53*-5
%
%5*5#$<#*-#$*+7$V#2#,.:4#+5$E.8+-(,
5-/
53(,,(.+$-8@(-$/##5
_$'9!]$()$.--*)(.+*,,K$8)#7$*)$*$)5*+7*37$8+(5$./$4#*)83#4#+5$/.3$+*583*,$1*)$*+7$:3.2(7#)$*$-.+2#+(#+5$@*)()$/.3 -.4:*3(+1$5"#$#+#31K$-.+5#+5$./$2*3(.8)$13*7#)$./$+*583*,$1*)$*+7$.5"#3$/8#,)>$I+#$-8@(-$/..5$./$+*583*,$1*)$:3.78-#) *::3.T(4*5#,K$UHZZZ$9!])H$).$UHZZZ$-8@(-$/##5$./$1*)$()$-.4:*3*@,#$5.$U$'9!]>$'9!]$()$.--*)(.+*,,K$#T:3#))#7$*) ''9!]H$;"(-"$()$(+5#+7#7$5.$3#:3#)#+5$*$5".8)*+7$5".8)*+7$9!])>$?+/.34*5(.+$/3.4P$"55:Paa;;;>#+#31K2.35#T>-.4
!"#$%&'(&)'*!%*!+ ?@ABCDE=A?C@ FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF
G
CHIBH?IJ FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF
1
!BCKI=A*,ALAE, FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF %";#$&*)$<3.=#-5 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> !3*+)09834*$I(,$E.33(7.3>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
M W b
ANI*=C@AIOA FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF &#.:.,(5(-*,$%(1+(/(-*+-#$*+7$R#).83-#$V(:,.4*-K >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
P c
DIHIQC!8I@A*RCB*SEB8LT FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF U>$!"#$=8+5*$1#5)$3(-"#3>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> !"#$%&$J"#3#$()$5"#$4.+#K$1.(+1d>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> e>$!"#$=8+5*$@8K)$;#*:.+)>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> [>$<#.:,#$*3#$,#/5$(+$5"#$7*3B >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> !"#$%&$J"#3#$()$5"#$1*)$1.(+1d>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
GG UU Ue U[ UY UW
,C=?LQ*E@BI,A*Q?@UID*AC**I@IB6V*!B?=I, FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF GW !BCKI=A*B?,U, FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF O(+*+-(*,$R()B)>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> %#-83(5K$R()B)>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> E.4:,(-(5K$*+7$Q84*+$R(1"5)$A@8)#) >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> V#)538-5(.+$./$S+2(3.+4#+5*,$Q#*,5"$*+7$9(.7(2#3)(5K>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
GP Uc Uf eZ eX
=C@=QE,?C@ FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 13
!"#!$%!&'("#!))"!(*"!"+&,&-( ................................................................ /0 12!3"4-5"#!("*- ........................................................................................... /6 !""#$%&'()*(+,-./01(.2,34567( 8888888888888888888888888888888888888888888888888888888888888888888888888888 !""#$%&'(;*(?2260=51(.,74=4,06@(/5,0A(>,224@,2(888888888888888888888888888888888888 !""#$%&'(9*(C/.(,3(7=/=4,07(/5,0A(>,224@,2 8888888888888888888888888888888888888888888888888888888888 !""#$%&'(:*(+/5>?5/=4,0(,3(A/7(26E60?67(88888888888888888888888888888888888888888888888888888888888888 !""#$%&'(G*(H33I7J,26(@6E65,.-60=(3,2(KJL6(M/7("2,N6>=
9: 9B 9D 9F
7(*(-37, .......................................................................................................... 86
!"#$#%& $'(
!"#$%&'(%)*+$,$-.%%%!
"#%%/*0012*0%*3%4*#$0
!""# $$$%&'$"%()*# +() ,()"# -"./01"-# ,/2
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
%)*$)!*+
!"#$%&'(%)*+,$-.
/*'0(123*4'%567%8+**69+*
!"#$#
!"#$#
Q09%70B#<02#8&;@2/92#/"#9.&#D5'#0"8#D5U#LB@4M2#/"#9.&#=0E @F#=&"<0B#@FF#9.&#N&29&7"#4@029#@F#=%7>0#0"8#0#"09%70B <02#;/;&B/"&#F7@>#_E0%M#6.E%#/"#D70M0"#?909 @#Q0""/"< /"#2@%9.N&29&7"#-./"0#c2&&#>0;dJ
D"#@/B##;/;&B/"&#N/BB#L&#L%/B9#;070BB&B#9@#9.&#"09%70B#<02 ;/;&B/"/@22#9.&#.&079#@F#=%7>0#F7@>#9.&#;@79#@F _E0%M#6.E%#/"#D70M0"#?909&)#9.7@%<.#C0
!"%&! !
!
!
400"+-,%!,(/"#F@7#"09%70B#<02#&T97049/@"#5 `0&N@@#;B0"2#9@#;7@8%4&#H0#;B09&0%K#@F#V++ >/BB/@"#4%L/4#F&&9#;&7#80E#F@7#%;#9@#U+#E&072! !FF2.@7/<2#N/BB#;%>;#9.&#<02#9.7@%<. #&'%,51*%,!$($%"#9.09#N/BB#&"9&7#B0"8#2@%9.N&29 @F#9. @N"#_E0%M#6.E%#@"#e0>7&&#a2B0"8) N.&7&#@"&#-&"+-,%!/1"!*%,2(&1.#/2#;B0""&8#9@ L&#L%/B9J D#*)[++#M>#&1*#,1.!/1"!$($%.(&%)#N/9.#0" 0""%0B#970"2;@7909/@"#40;04/9E#@F#'*#L/BB/@"#4%L/4 >&9&72)#N/BB#970"2;@79#9.&#<02#9@#Q0""/"<#/" 2@%9.N&29&7"#-./"0
"#%%/*0012*0%*3%4*#$0
!"%& !
! !
-7%8&#@/B#%"B@08/"<#'%%$!"%1!$-,*!1&' *%,2(&1.#09#C080E#a2B0"8#N/9.#0#U++)+++#9@" 8&08N&/<.9#40;04/9E 4(.!"*-,1/%!013(.(*(%"#9.09#/"4B%8�"#@/B#90"M N/9.#29@70<(04/9E#@F#(++)+++#4%L/4#>&9&72 ')'++#M>#-(.!$($%.(&%#9@#_%">/"<#N/9.#0 ;@22/LB&#&T9&"2/@"#9@#-.@"/BB/@"#9@"2#@7 RR*)+++#L077&B2#;&7#80E
!"#
%$!"#$%&'(%)*+$,$-.%%%$
&'(#)'*#+,-+.#/+#0#*&1
!"""&'()(*+ B1$C(( D,&$/,1&+(,1*.2+3,2 1.#/('0%&+(, 251/+,3.%(,&/1%& C+&5.&5$.EF1,)1/ G+*.1,'.H12 !,&$/#/+2$ IEGH!J.&( $"#*(/$K.#/('0%$K 1,'.)1/<$& 0,'$/C1&$/. 312 /$2$/=$2. (--. &5$ 7/1<1,. %(12&?
!"",&-./(.01 B1$C(( 1,,(0,%$2.1 LC(/*'.%*122 %())$/%+1* 2%1*$.312 '$#(2+&M.+,.&5$ (--25(/$.789 ;*(%
!""%&'()(*+ 65$.789.1,'.78: ;*(%<2.1/$ !"",4!""5 %$/&+-+$'.&(.51=$ G/+3+,1*.#*1,2.-(/ 1,.$2&+)1&$' &5$.21*$.1,' 1=1+*1;*$./$2$/=$ &/1,2#(/&.(-.&5$.312 (-.>[email protected]?9 &(.D,'+1.=+1.#+#$*+,$ &/+**+(,.%0;+% -1+*.&(.)1&$/+1*+R$ -$$&?! !""6& -(/3 1-&$/. F$1/2. (4OP4.2+3,2 ,$3(&+1&+(,2.1,' 1,.EGQ.C+&5 '$&1+*$'.#/(S$%& T0/)1U2 #*1,,+,3? E+,+2&/F.(!,$/3F.&( %(,2&/0%&K (#$/1&$.1,' )1,13$.&5$ LEF1,)1/8 45+,1.G+* !""2& -(/3 45+,1.O1&+(,1* P+#$*+,$KM.1, 0,*(1'+,3.#(/&K P$&/(*$0) &$/)+,1*K.1,' 4(/#(/1&+(, I4OP4J.2+3,2 2&(/13$.1,' &/1,2#(/&1&+(, 1,.EGQ.-(/ -1%+*+&+$2? &5$.#0/%512$ 1,' &/1,2#(/&1&+(, (-.,1&0/1*.312 -/().&5$.789 1,'.78:.;*(%<2?
%#%%/*0012*0%*3%4*#$0
!""6& 738+ 4(,2&/0%&+(, (-.&5$ #+#$*+,$2 C+**.;$3+,
!"#" !"#$%&$' %()#*$&+(, (-.%/0'$.(+* #(/&.1,' 2&(/13$ -1%+*+&+$2
!"#$ !"#$%&$' %())$,%$)$,& (-.,1&0/1* 312. &/1,2-$/ &(.45+,1
!",
!",
6+%!%7*,13*-," 8+4:'0; `0&N@@#a"9&7"09/@"0B)#?@%9.#_@7&0 !/B#0"8#Q09%70B#A02#-@7;@709/@")#a"8/0 CE0">07#!/B#0"8#A02#O"9&7;7/2&)#=%7>0 _@7&0"#A02#-@7;@709/@")#?@%9.#_@7&0 A02#D%9.@7/9E#@F#a"8/0#f/>/9&8)#a"8/0
-@"297%49/@")#8&2/<")#0"8#@;&709/@"#@F#@/B#;/;&B/"&#/" =%7>0g#-Q6-h -@"297%49/@")#8&2/<")#0"8#@;&709/@"#@F#@9.&7#@/B#;7@I&49 4@>;@"&"92g#-Q6-h -@"297%49/@"#@F#@/B#;/;&B/"&#/"#-./"0g#&T;&49&8#9@#L& 6&97@-./"0#L%9#"@9#4@"F/7>&8
<%+=%("'*$( V'W '\W 'VW [JVW [JVW
6+%!8#9%,!:%7.#"()%!,(/+*"; -./"0#Q09/@"0B#6&97@B&%>#-@>;0"E)#-@>;0"E#2.@%B8#L& -@7;@709/@" 6+%!'("*,(8#*-,!:(&!<+(&1; 6&97@-./"0
",!+(23" -@292#9@!8&G&B@;#9.&#<02#F/&B82#0"8#<&9#9.&#<02#9@#2.@7&g =>?@AB@!8(..(-&J" O29/>09&8#4@"297%49/@"#4@292#@F#9.&#"09%70B#<02#;/;&B/"&g =>?CDCAEF!8(..(-& D""%0B#970"2/9#F&&g#S?Y#'V+#>/BB/@"#;&7#E&07#F@7#U+#E&072 F@7#0#9@90B#@F#=>?GAF!8(..(-&# O29/>09&8#7&G&"%&2#F7@>#9.B&#@F#9.&#"09%70B#<02g#=>? HEAH!8(..(-&Jh#c2&�;&"8/T#F@7#&T;B0"09/@"#@F#40B4%B09/@"2d !C99'7)45?"1'"+"*+(3*"67493"'D"EFGA"637";HIE.""F'@3"*'J793* &+K3"736'713)"1&3"*+(3*"67493"+1"EFGL.LM":&49&":'J()"N745?"1&3 1'1+("73K35J3"1'"EF"G,O"N4((4'5.
",!+(23" O29/>09&8#4@"297%49/@"#4@292#F@7#@/B#;/;&B/"&g#=>?CAF!8(..(-& !"#$%#"&'()*"+",-./0"*1+23"45"1&3"6463(453*"67'8391":41&";<=> &'()45?"1&3"73@+4545?"A/.B0 !"#$%&'(%)*+$,$-.%%%&
!"#$%&'( )'*'+) !"#$% &'(% )*+,$-.% !.'./(
9@#V++)+++#_E09#cS?YRV+d#I%29#9@#B&0G .&#;@792J#Q0G0B @FF/4&72#.0G&#L&&"#4@>>0"8&&7/"<#B@40B#L@092)#7&b%/7/"< B@40B#L@09>&"#9@#0B2@#;7@G/8&#;&97@BJ#i0/B%7 @#4@>;BE >676.'*;%60%:7'-$ N/9.#7&297/49/@"2#@7#8&>0"82#B&082#9@#077&29)#L&09/"<2)#@7 X.7&&#L0990B/@"2#cfa=#VR*#0"8#VRU0"8#a=#URd#07&#L02&8 L%2/"&22#4@BB0;2&J#C/B/907E#7&297/49/@"2#07(%2/"<#.0782./; N/9./"#0#F&N#M/B@>&97&2#@F#9.&#_E0%M#6.E%#a"/9/0B#A02 X&7>/"0BJ#D#"0G0B#L02 .09#/"4B%8&2#"/"%L5L0990B/@"2#/2 047@22#9.&#F/2./"<#/"8%297E)#%;@"#N./4.#9.&#D70M0"&2& /"#;B04&#@"#9.&#&029&7"#2/8&#@F#e0>7&&#a2B0"8Z#;097@B2#F7@> ;&@;B&#.0G&#B@"<#7&B/&8#F@7#9.&/7#;7/>07E#4@>>&74/0B 9.&#L02&#>@"/9@7#7&297/49/@"#^@"&2#07@%"8#9.&#@FF2.@7/<2J &"9&7;7/2�"8#N./4.#;7@G/8&2#0#47/9/40B#F@@8#2@%74&J
%&'(') *+,-'') ./(,0/+(1'/+2
?$(.*6-.6+0%@+0$%$(.'A76("$9B%=6("60C%6093(.*;%(3==$*( D#7&297/49/@"#^@"&#.02#L&&"#&290LB/2.&8#N./4.#;7@./L/92 F/2.&72#F7@>#4@>/"<#N/9./"#0#V+#M/B@>&97&2#708/%2#@F#9.& ?.N&2&7G&J#i/2.&72#>%29#0B2@#L7/L&#>/B/907E#@FF/4/0B2#%;
'#%%/*0012*0%*3%4*#$0
I&3"#&453*3"$+5"P+4"M"3Q6('7+1'7R"74?"45"1&3"CST"H('92
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f@40B#L%2/"&22>0"
DI"$0%'3."+*6.6$(%C+%.+%."$%+==("+*$%9*67760C%(6.$(B%."$; $E:$-.%7+-'7%A+'.(%.+%-'**;%."$4%."$*$H%>+(.%+=%."$ 7+-'7%=6("60C%A+'.(%0$$9%.+%A*6A$%."$%'3."+*6.6$(%'. 7$'(.%MNNBNNN%J;'.%$G$*;%.64$%."$;%7$'G$%:+*.%A3.%6= ."$;%:*+G69$%."6(%($*G6-$%."$0%."$;%:';%7$((H%O=%."$%A+'. +#0$*%*$=3($(%.+%.'K$%."$%4676.'*;%+*%P!QR%+3.%.+%($'B ."$;%#677%76K$7;%A$%'**$(.$9%+*%."$6*%A3(60$((%#677%A$ (.+::$9HL%P#f@40B#X708&7
0*'1(23/*4'% 5+**67+*% !.'./( U459(J)45?")J+("'4("+5)"?+*"6463(453*V
C"D4*&45?"N'+1"+667'+9&3)"NR"+"$+K+("6+17'("'DD"1&3"C7+2+5"9'+*1
>676.'*;%60%:7'-$ -%77&"9BE#F@79E5F@%7#/"F0"97E#0"8#B/<.9#/"F0"97E#L0990B/@"2#07& ;@2/9/@"&8#0B@"<#9.&#;/;&B/"@77/8@7J#O04.#L0990B/@"#/2 9.@%<.9#9@#.0G&#*V+5U++#2@B8/&72)#N./4.#>&0"2#9.09#09#9./2 9/> .&7&#%;#9@#'U)*++#2@B8/&72#;@2/9/@"&8#0B@"<#9.& 7@%9&J#D#"0G0B#L02 .09#/"4B%8&2#"/"%L5L0990B/@"2#/" ;B04&#@"#9.&#&029&7"#2/8&#@F#e0>7&&#a2B0"8#N/BB#>@"/9@7#9.& 8&&;#2&0#;@79#0"8#@/B#9&7>/"0BJ
D2/0#l@7B8#/2#2&9#9@#4@"297%49#9.&&;#2&0#;@79#@" C080E#a2B0"8)#02#N&BB#02#7@082#0"8#@9.&7#7&B09&8#/"F705 297%49%7&#;7@I&492#/"#D70M0"#?909&J#D2/0#l@7B8#N02 F@%"8&8#LE#87%<5B@78#f@#j2/"<#j0"#0"8#/2#>0"0<&8#LE ./2#2@"#?9&;.&"#f0N)#N.@#.02#L&&"#7&F%2&8#&"97E#9@#9.& S"/9&8#?909&2#@"#2%2;/4/@"#@F#"074@9/42#970FF/4M/"<J
aAO#N/BB#7&;@79&8BE#4@"297%49#7@082#0"8#@9.&7#7&B09&8 /"F705297%49%7&#;7@I&492#0B@"<#9.&#;/;&B/"@%9&J#aAO#-@ !3A1-+0.*'-.60C%=+*%-+0(.*3-.6+0%'-.6G6.6$( f98#/2#0#?/"<0;@7&57&;0"E#@N"&8#0"8 X.&#C!S#2/<"&8#/"#$%"&#*++,#8&2/<"09&8#-Q6>0"0<&8#LE#9N@#2@"2#@F#=%7>012#;@N&7F%B#C/"/29&7#@F 7&2;@"2/LB&#F@7#9.@"297%49/@")#8&2/<")#0"8#@;&709/@"#@F a"8%297E5'#D%"<#X.0%"<J#D%"<#X.0%"<#/2#4@"2/8&7&8#0 @/B#970"2F&7#9.7@%<.#=%7>0#9@#-./"0J#a"#088/9/@"#9@ .078B/"&7#N/9./"#9.&�"8#/2#L&B/&G&8#9@#.0G&#;B0E&8 -Q6-12#@N"#4@"297%49/@"#049/G/9/&2)#/"9&7"09/@"0B#0"8 0#>0I@7#7@B&#/"#9.በM8@N"#@"#>@"M2#/"#*++\J##aAO#/2 =%7>&2@>;0"/&2#07&#GE/"<#F@7#2%L54@"970492#9@ %"8&7#O%7@;&0"#S"/@"#20"49/@"2#0"8#D%"<#X.0%"<#0"8#./2 4@"297%49#022@4/09&8#/"F70297%49%7&J#X.&2&#/"4B%8&#D2/0 l@7B8#0"8#aAO#@F#=%7>0#0"8#$0./"8#67@I&49#f98J#@F#a"8/0J F0>/BE#07&#L0""&8#F7@>#970G&BB/"<#9@#9.&#OS#0"8#D%2970B/0J !"#$%&'(%)*+$,$-.%%%(
#,*-(%"#*.# !"#$% D2#-./"012#A`6#<7@N2#0"#0G&70<&#@F#'+#;&74&"9#0""%0BBE) X.琍&0#L&9N&&"#a"8/0#0"8#-./"0) /92#b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c2&&#>0;dJ#X.& 8&G&B@;>&"9#@F#0#8&&;#2&0#;@79 =%7>0#70"M2#9&"9.#/"#9.&#N@7B8 @"#=%7>012#N&29&7"#4@029#N@%B8 /"#9&7>2#@F#"09%70B#<02#7&2&7G& ;7@G/8&#-./"0#0#"&N#970"2/9#;@/"9 0"8#/2#7/4.#/"#@9.&7#"09%70B F@7#@/B#0"8#<02#/>;@792#0"8#&02E 7&2@%74&2#2%4.#02#9/>L&7) 044&22#9@#9.&#a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
)#%%/*0012*0%*3%4*#$0
!"#$%&'(")#*+,-*./"",0/"*#%*.1,$#2%*3$4"56*748(",96 =%7>012#7&2@%74/;B@>04E#.02#7&0;&8#&FF&49/G& 7&2%B92#N/9.#-./"0J#a"#$0"%07E#*++\)#-./"0#G&9@&8#0 870F9#SQ#?&4%7/9E#-@%"4/B#e&2@B%9/@"#40BB/"<#@" HCE0">0712#A@G&7">&"9#9@#4&02&#>/B/907E#09904M2 0<0/"29#4/G/B/0"2#/"#&9."/4#>/"@7/9E#7&@4709/4#970"2/9/@"JK#$%29#9.7&PE2#B09&7) 0#67@8%49/@"#?.07/"<#-@"97049#N02#2/<"&8#L&9N&&" -./"0#Q09/@"0B#6&97@B&%>#-@>;0"E#c-Q6-d#0"8 =%7>012#I%"90)#9.&#?909&04�"8#`&G&B@;>&"9 -@%"4/B)#F@7#&T;B@709/@")#87/BB/"<#0"8#;7@8%49/@" 7/<.92#/"#9.7&X/9/@"0B#LB@4M2J#$%29#>@"9.2#B09&7) 9.&#I%"90#0""@%"4&8#9.09#/9#N02#2&BB/"<#9.&#&"9/7&#<02 F/"82#/"#LB@4M2#D5'#0"8#D5U#c9.&#?.N&#<02d#9@ -./"0#F@7#0#L&B@N#>07M&9#;7/4&J#X./2#40%2&8#9.& 4@"2@79/%>#@F#a"8/0"#0"8#?@%9.#_@7&0"#4@>;0"/&2 8&G&B@;/"<#9.&#<02#F/&B82#9@#;7@9&29J#a"8/0"#>&8/0 7&;@792#b%@9&8#a"8/0"#4@>;0"E#@FF/4/0B2#02#%".0;;E 0L@%9#9.&#-./"&2B�"8#7&4@"2/8&7/"<#0"E#F%79.&7 /"G&29>&"92#/"#=%7>012#<02J
&$'#% a"8/0#.08#4@"2/8&7&8#/92&BF#9.&#;7/>07E#F/"0B ;%74.02&7#@F#9.&#?.N&#<02#0"8#.08#8&G&B@;&8#;B0"2#F@7#G07/@%2#970"2;@79#7@%9&2)#/"4B%8/"<#/"G&29>&"92#/"#2%7G&E/"< ;/;&B/"�"8#2./;;/"<#@;9/@"2J#DF9&7#E&072#@F#7&2&074.#0"8#"&<@9/09/@"2)#.@N&G&7)#9.&E#N&7%88&"BE#4%9#@%9#@F#9.& &b%09/@"#N.&"#9.&#<02#N02#2@B8#9@#9.&#-./"&2&J !"#$%&'(%)*+$,$-.%%%*
_&&"#9@#7&<0/"#B@29#<7@%"8)#a"8/0#8/2;094.&8#/92#!/B C/"/29&7#9@#2&0B#"&N#4@"970492#/"#088/9/@"0B#&T;B@709/@" LB@4M2#/"#?&;9&>L&7#*++\J#X.&#G/2/9#40>&#/"#9.&#>/829#@F %";7&4&8&"9&8#0"8#;&04&F%B#8&>@"29709/@"2#;7@9&29/"<#9.& ./<.#;7/4&#@F#F%&B#/"#=%7>0J#a"8/012#C/"/29&7#;7@>/2&8#0" 088/9/@"0B#S?Y'V+#>/BB/@"#/"#/"G&29>&"9#9@#9.&#I%"90 8&2;/9�#G/@B&"9#4704M8@N"#@"#9.&#>@"M2#B&08/"<#9.& 8&>@"29709/@"2#c2&&#?@4/0B#S"7&29#2&49/@"dJ =&E@"8#@/B#0"8#<02)#a"8/0#.02#/"G&29&8#>/BB/@"2#@F#8@BB072 /"9@#9.&G&B@;>&"9#@F#9.&#;@79#/"#?/99N&)#9.&#_0B080" 970"2/9#970"2;@79#>%B9/5>@80B#;7@I&49)#0"8#7@082#B/"M/"<#9.& 9N@#4@%"97/&2J#a"8/0#.02#>08&#>%B9/5>/BB/@"#8@BB07#N&0;@"2 20B&2#9@#=%7>0#02#N&BBJ5#X.&2�BB#;079#0"8#;074&B#@F a"8/012#Hf@@M#O029K#;@B/4E)#@"琍&<E#F@7#7&8%4/"<#9.& /"FB%&"4&#@F#-./"0#@"#/92#"&/<.L@7#0"8#/"#9.&&"9#/"9&7&292#0"8#<&@;@B/9/40B#4@%"9&75 L0B0"4&)#a"8/0#/2#2&&M/"<#9@#<07"&7#=%7>&2/290"4&#/" 4704M/"<#8@N"#@"#07>&8#2&;0709/292#/"#"@79.&029#a"8/0J
()**#% e%22/0#0B2@#.02#7&2@%74&#/"9&7&292#/"#=%7>0)#/"4B%8/"< ;7@8%49/@"#4@"970492#/"#9.7&&#@/B#0"8#<02#LB@4M2#0"8#>/"/"< /"9&7&292J#e%22/0#.02#2@B8#07>2#0"8#>/B/907E#&b%/;>&"9#9@ 9.&#I%"90#0"8#.02#0""@%"4&8#;B0"2#9@#L%/B8#0#"%4B&07 7&049@7#/"#9.@%"97EJ#Q@9#2%7;7/2/";92#9@#/"9&7"09/@"0B/^ .&#/"9&7"0B#2/9%09/@"#/" CE0">07K#0"8#4@>;B/&8#N/9.#-./"012#G&9@#@F#9.&#SQ ?&4%7/9E#-@%"4/B#7&2@B%9/@"#/"#*++\J7
+,-+. X.0/B0"8)#9.%77&"9#D?ODQ#4.0/7)#7&B/&2#@"#"09%70B#<02 F7@>#=%7>0#F@7#9N&"9E#;&74&"9#@F#/92#&B&497/4/9E#2%;;BE#0"8 /"#*++[#N02#0#B&08/"<#/"G&29@7#/"#=%7>0J#?/"<0;@7&#/2#0B2@ 0#B&08#/"G&29@7#/"#=%7>0)#0"8#?/"<0;@7&0")#C0B0E2/0") 0"8#3/&9"0>&2@>;0"/&2#.0GĢM&2#/"#@/B#0"8#<02 &T;B@709/@"#LB@4M2#/"#=%7>0J89#?&G&70B#=%7>&2& L%2/"&22&2#7%"#LE#9E4@@"2#0B/<"&8#N/9.#9@;#>/B/907E <&"&70B2#07�B2@#7&;07&8#9@#*++\ /"#>%9&8#47/9/4/2>#@F#=%7>012#I%"90#F7@>#9.&0"8J6#X. N@#4@%"97/&2#07&#&"<0<&8#/"#0;&9/9/G&074.#F@7#<02#0"8#@/BZ#9.ĩ%</47@4@2>#@F#9.09#297%<0#/2 4%77&"9BE#9.&#B&08/"<#0B9&7"09/G%;;B/&7#F@7#9.&#N@7B812 9N@#F029&29#<7@N/"<#0"8#&"&7<E5.%"<7E#&4@"@>/&2J
!+#%%/*0012*0%*3%4*#$0
&*)*/%0%1*"#-2%$-3'$14(! e&2@%74/;B@>04E#.02# />&)#9.&G&"%&2#<&"&709&8#LE#9.B&#@F#"09%70B#7&2@%74&2)#"09%70B#<02#/" ;079/4%B07)#.02#0BB@N&8#9.&#I%"90#9@#2%290/"#/92#>022/G>E)#;%74.02&#/"47&02/"0#N./B&#/<"@7/"<#9.&/7#2@4/0B#0"8#&"&7<E#"&&82J#X.B&#@F#9.&#?.N&#A02#>&0"2#9.7&& 9./"<2#F@7#=%7>0g
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c2&ZLB&#@"#"&T9#;0<&dJ
L-!6,1&"$1,%&39M e&G&"%&2#F7@>#9.&#@/B#0"8#<02#2&49@7#.0G&#"@ /"8&;&"8&"9#@G&72/<.9#0"8#07&4@78&8#/"#=%7>012 ;%LB/4#044@%"92#/"#ME09#09#9.&#@FF/4/0B#&T4.0"<˅& @F#(#ME09#9@#S?Y'#N./B .&#>07M&9#G0B%&#@F#9.& ME09#290"82#09#0;;7@T/>09&BE#')*++#ME09#9@#S?Y'J X./2#>022/G/247&;0"4E#>&0"2#9.09#9.&#>0I@7/9E#@F <02#7&G&"%&2#07&#"@9#7&4@78&8#/"#=%7>012#@FF/4/0B L%8<&9)#B&0G/"<#9.&>#0G0/B0LB&#F@7#8/247&9/@"07E 2;&"8/"<#0"8#>0M/"<#/9#/>;@22/LB @#9704&#.@N#9.& >0I@7/9E#@F#=%7>012#<02#&07"/"<2#07&#L&/"<#2;&"9J)8: X./2#/2#@"&02@"#X70"2;07&"4E#a"9&7"09/@"0B 70"M&8#=%7>0#9.&4@"85>@29#4@77%;9 <@G&7">&"9#/"#9.&#N@7B8#/"#*++[J
/&$012%$3%4056)43%7809":4:0%4:04%9":40')3;0<:$:4%=*0>":$0#90?@3:*09@09":0:?@$@32A0B@>0?%$09":20*@ 3#*3%$%<:09":0:?@$@320%$'04:%?"09"#*0*9%<:0>":$09":0?@)$9420"%*0*@03%$20$%9)4%=04:*@)4?:*CD #5#f&&#_%0"#]&N)#F@%"8/"<#67/>&#C/"/29&7#@F#?/"<0;@7& !"#$%&'(%)*+$,$-.%%%!!
"#$%$&'(&)#$&*+,$-&.+',.! For the People
For the Regime
Money government spends on health in 2007: $ 0.7 per person per year14
Revenues Generated by Oil and Gas in 2007: Estimated $150 million monthly15
Amount government spent on HIV/AIDS in 2008: $200,00016
Amount government spent on building new capital as estimated by the International Monetary Fund: $122-244 million17 Estimated value of the gifts at the wedding of Senior General Than Shwe’s daughter: $50 million
Average salary of government teacher in Burma in 2009: $30 per month
Estimated annual revenue from sale of Shwe gas deposit: $970 million18
Average income in Burma in 2008 $1.2 per day19
Foreign reserves in 2008: $3.5 Billion20
D/"$*$%6(%0+.%$0+3C"%4$96-60$B%0+.%$0+3C"%9+-.+*(%'09%0+.%$0+3C"%"+(:6.'7(H%/"$*$%'*$%0+.%$0+3C"%(-"++7(B%0+. $0+3C"%.$'-"$*(B%'09%0+.%$0+3C"%(3::+*.%=+*%(.39$0.(H%O0(.$'9%."$;%'*$%3(60C%."$%C'(%4+0$;%.+%A3679%."$6*%0$# -':6.'7%-6.;%ST';:;69'#U%'09%.+%A3;%#$':+0(H%R%C+G$*04$0.%("+379%A3;%#$':+0(%.+%:*+.$-.%."$%-+30.*;%=*+4 9'0C$*H%23.%60%23*4'%."$%C+G$*04$0.%6(%3(60C%#$':+0(%=+*%K67760C%6.(%+#0%:$+:7$H%O=%."$%-+4:'06$(%-+0.603$%."6( :*+,$-.B%."$;%#677%96*$-.7;%(3::+*.%."$%4676.'*;%*$C64$H%/"$*$%#677%A$%0+%:+(6.6G$%64:'-.%=+*%."$%:$+:7$%+=%23*4'HL 1%S#X%"#l/")#&B&49&8#/"#',,+#02#0#C&>L&7#@F#607B/0>&"9#%"8&7#9.&#D70M0"#f&0<%&#F@7#`&>@4704E#6079E !"#%%/*0012*0%*3%4*#$0
;9%0"$%,/1.'%+1( X.&#I%"90#.02#0#;029#9704M#7&4@78#@F#%2/"<#7&G&"%&2#F7@> 9.B&#@F#"09%70B#<02#9@#;%74.02&#N&0;@"2)#>0M/"<#9.& 20B&#@F#9.&#?.N&#A02#0BB#9.&#>@7@"4&7"/"<#F@7#9.& ;&@;B&#@F#=%7>0J#a"8&&8)#4@>;0"/&2#0"8#<@G&7">&"92 /"G@BG&8#/"#9.&#?.N&#A02#67@I&49#.0G�B7&08E#L&&" 2&BB/"<#07>2#9@#=%7>0J E#4:?90=#$F*0;:9>::$0<%*04:G:$):*0%$'03#=#9%42 :HI%$*#@$ X.&#B/"M#L&9N&&"#<02#7&G&"%�"8#07>2#;%74.02&2#/2#4B&07J X.&&#.02#L&&"#@"#0"#044&B&709&8#07>25L%E/"<#2;7&& 2/"4&#*++')#7@%<.BE#N.&"#/9#7&4&/G&8#9.&#F/729#<02#7&G&"%&2 F7@>#9.&#]080"0#;/;&B/"&J!8#OT0>;B&2#@F#9./2#/"4B%8 .& ;%74.02&#@F#.&B/4@;9&72#F7@>#0#6@B/2.#4@>;0"E#0F9&7 7&4&/G/"<#0#L@"%2#@F#S?#Y'V#>/BB/@"#F7@>#X@90B)#9.&#i7&"4. @;&709@7#@F#9.&#]080"0k]&90<%"#<02#;/;&B/"&)#/" *++'J#D#6@B/2.#8/;B@>09#N02#b%@9&8#02#20E/"< 9.09#H9.&#=%7>&2&#;0/8#%2#N/9.#X!XDf >@"&EJK#a"#9.09#20>&#E&07)#9.&#I%"90#7&4&/G&8 S?#Y'++#>/BB/@"#F7@>#9.ଢ଼&5@N"&8 6&97@B&%>#D%9.@7/9E#@F#X.0/B0"8)#9.&#;%74.02&7 @F#9.&#]080"0k]&90<%"#<02#0"8#9.&"#/>>&8/09&BE ;%74.02&8#'+#C/A5*,#F/<.9&7#I&92#09#9.&#;7/4&#@F S?#Y'R+#>/BB/@")#%2/"<#S?#YR+#>/BB/@"#F@7#0 8@N"#;0E>&"9#@"#9.&#;B0"&2J!!#D2#9.দ>LB& F@7#=%7>012#<02#.&092#%;)#20B&2#@F#>/B/907E &b%/;>&"9#9@#9.&#I%"90#.0G�B2@#/"47&02&8J
&==:<%=0>:%I@$*0':%=*0;20,@)9"0J@4:%$0?@3I%$#:* DF9&7#2&4%7/"<#9.&#?.N&#/"G&29>&"9#/"#*+++)#0 4@"&709&#@F#?@%9.#_@7&0"#4@>;0"/&2#L&<0" &T;@79/"<#>/B/907E#>04./"&7E#F@7#0#N&0;@"2#F049@7E#/" =%7>0#/"#*++*J#_@7&0"#B0N#;7@./L/92#9.&#%"0%9.@7/^&8 &T;@79#@F#29709&09&7/0B2#9@#=%7>0)#L%9#9.@>;0"/&2) B&8#LE#`0&N@@#a"9&7"09/@"0B)#N&7�LB @#2%LG&79#9.&#B0N LE#F0L7/409/"<#&T;@79#8@4%>&"92J a"#Q@G&>L&7#*++\#`0&N@@#a"9&7"09/@"0B#67&2/8&"9#f&& X0&5E@"<#0"8#`0&N@@12#F@7>&7#>0"0 ?@%9.#_@7&0"#4@>;0"/&2#@F#/BB&<0BBE#&T;@79/"<#N&0;@"2 9&4."@B@<E#0"8#&b%/;>&"9#9@#=%7>0J#X.&F&"80"92#N&7& 09&BE S?YV+)+++#L%9#"@9#L&F@7 .&#F04/B/9E)#%2&8#9@#4@"297%49 079/BB&7E#2.&BB2#0"8#@9.&7#/BB&<0B#N&0;@"7E)#N02#4@>;B&9&8J!:
!"#$%&'(%)*+$,$-.%%%!$ !"#$%&'()#*+%,-(.&(/0,1#(.22"3#2-().&#&*"4 5-(6%0+7(8%,"#&(*%1$#&."'
K@G:4$3:$9*0#$G@=G:'0#$0,">:0K%*0L4@M:?90*:==0%43* a"8/0#.02#&"<0<&8#/"#07>2#8&0B2#N/9.#=%7>012#I%"90) /"4B%8/"<#/"47&02&8#20B&2#@F#F/&B8#<%"2)#>@79072) 2%7G&/BB0"4&#&b%/;>&"9)#0/7470F92)#90"M2)#0/758&F&"4&#<%"2) 0"8#@9.&7#&b%/;>&"9J#a"8/012#D/7#C072.0B#?#6#XE0%B9/5>/BB/@"#8@BB07#20B&#@F#>/B/907E#.078N07 @ =%7>012#7&%7/"<#0#G/2/9#/"#Q@G&>L&7#*++(J#X.& ;04M0<&#/"4B%8&8#.&B/4@;9&72)#9&4."/40B#%;<708&2#@F =%7>012#e%22/0"#0"8#-./"&2&5>08&#F/<.9&7#;B0"&2)#0"8 70807J!"#=%7>012#;7/"4/;0B#07>2#2%;;B/&7)#.@N&G&7)#/2 -./"0J!#
X.&#;%74.02&#@F#N&0;@"2#LE#9.&#I%"90#/2#;079/4%B07BE "@90LB&#L&40%2&#=%7>0#.02#"@#8&4B07&8#&T9&7"0B#&"&>EJ !"&#&B&49&8#>&>L&7#@F#;07B/0>&"9#F7@>#D70M0"#?909& 0;9BE#@L2&7G&8g
!"#!$%&'()*')+!,-%./0!1.2!3'45%),!+% 5(%+'6+!+-'!6%.)+(2!7(%*!04)$'(8!9.+!:) 9.(*4! +-'! $%&'()*')+! :,! .,:)$! 3'45%),! 7%( ;://:)$! :+,! %3)! 5'%5/'8<
HJ7@+X*"$+KR"+1"1&3"6'71"45"F411:3
!%#%%/*0012*0%*3%4*#$0
?9%)$+>@$%'*$%@$A.%61%."$%7'*B l./B .&&#&T;@792#G0B%0LB&#&"&7<E 7&2@%74&2#9@#"&/<.L@%7/"<#4@%"97/&2) @78/"07E#4/9/^&"2#7&4&/G&#"&/9.&7#&B&497/4/9E "@7#<02J#DB9.@%<.#=%7>0#.02#2@>&#@F#9.& B07<&29#7&2&7G&2#@F#"09%70B#<02#/" ?@%9.&029#D2/0)#9.@%"97E#F04&2#4.7@"/4 &"&7<E#2.@790<&2J#a"#B09&#*++[#9. @90B /"290BB&8#40;04/9E#@F#&B&497/4#;@N&7#/" =%7>0#N02#')\',#Cl)#4@>;07&8#9@ "&07BE#U+)+++#Cl#/"#"&/<.L@%7/"< X.0/B0"8J!$#X.&#;&7#40;/90#&B&497/4/9E 4@"2%>;9/@"#/"#=%7>0#/2#B&22#9.0"#VW 9.09#@F#"&/<.L@%7/"<#X.0/B0"8#0"8 -./"0J!5#D#290LB%;;BE#@F#;@N&7#/2#"@9 &G&"#<%070"9&&8#/"#9.&#B07<&29#4/9E#@F e0"<@@"J#C@29#L%2/"&22&2#07&#F@74&8#9@ ;%74.02&#B07<�>@%"92#@F#8/&2&B#9@#F%&B <&"&709@72#L&40%2&#@F#9.&#B04M#@F#290LB& &B&497/4/9E#2%;;BEJ D70M0"#?909&)#9.@%74&#@F#9.&#?.N& A02)#/2#"@9#4@""&49&8#9@#9.&#"09/@"0B #&4()735"45"C7+2+5"F1+13"17R"1'")'"1&347"*1J)43*"NR"9+5)(3"(4?&1 ;@N&7#<7/8#0"8#&B&497/4/9E#/2#&T97&>&BE 24074&J#!G&7#,+W#@F#;&@;B&#/"#D70M0"#?909&#%2("8B&2#F@7#B/<.9#0"8#F/7&N@@8#02#9.&/7#;7/>07E#2@%74&#@F#4@@M/"<#F%&B E&9#0BB#@F#?.N&#A02#N/BB#L&#;/;&8#9@#-./"0J!6
!"#$%&'(%)*+$,$-.%%%!&
!"#$%&'()*+($",($-./'&0+($%+&$123
"#$%$&'(&)#$&./(&.+',.!
!"#$-./'&0+( !"#$%&'()*+(
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
5%(!4/-'"$*5#-/!"6*&-#%--*"*$78-0$!(*5 D#2&7/&2#@F#;7@9&292#9.09 L&<0"#/"#D%<%29#*++\#N&7& 2;07M&8#LE#9.&#>/B/907E#I%"901 2#8/7&49/G @#7&>@G&#F%&B 2%L2/8/&2#N./4.#40%2&8#9.& ;7/4&#@F#8/&2&B#0"8#;&97@B#9@ 2%88&"BE#7/2#>%4.#02 ((W)#0"8#9.&#;7/4&#@F 4@>;7&22&8#"09%70B#<02#F@7 L%2&2#9@#/"47&02&#F/G&F@B8#/" B&22#9.0"#0#N&&MJ#`0/BE 4@>>%9&72#F@%"8#9.09#L%2 F07&2#.08#8@%LB&8#@G&7"/<.9J X.&#;7@9&292#2N&BB&8#9@ /"4B%8&8#9&"2#@F#9.@%20"82 0"8#N&7&#B&8#LE#./<.BE 7&G&7&8#=%88./29#>@"M2J X.&#N@7B8#N02#2.@4M&8 N.&"#0#G/@B&"9#4704M8@N" @"#9.&#;&04&F%B 8&>@"29709/@"2#L&<0"#@" ?&;9&>L&7#*(#0"8#0#$0;0"&2&#;.@9@I@%7"0B/29#N02#40%<.9#@"#F/B>#L&/"<#2.@9#09#;@/"95LB0"M#70"<&#@"#9.ĩ&&9J#l./B& 9.&#@FF/4/0B#8&09.#9@BB#7&>0/"2#09#'U)#9.&#SQ#j%>0"#e/<.92#-@%"4/B12#?;&4/0B#e0;;&%9&7#.02#20/8#9.09#/"8&;&"8&"9 2@%74&2#7&;@79&8#U+#9@#R+#>@"M2#0"8#V+#9@#\+#4/G/B/0"2#M/BB&8Z#9.1%0B#"%>L&7#@F#8&09.2#>0E#"&G&7#L&#M"@N"J#a"#9.& 0F9&7>09.#@F#9.በM8@N"#9.@%20"82#N&7&#.%"9&8#8@N"#0"8#077&29&8)#>@"M2#N&7&#L&09&"#0"8#F@74&8#@%9#@F#9.&/7 9&>;B&2)#0"8#4@%"9B&22#7&>0/"#/"#./8/"<#@7#.0G&#FB&8#9.@%"97EJ !"#$%&'(%)*+$,$-.%%%!(
0$%9*(#-$!565 X.&#?.N&#A02#67@I&49#0"8#9.p"25=%7>0#!/B#-@77/8@7 ;7&2&"9#G&7E#2&7/@%2#7/2M2#9@#9.&#;&@;B&#@F#=%7>0J e&G&"%&2#"&07#S?Y'#L/BB/@"#;&7#E&07#N/BB#FB@N#9@#0#7&& N/9.#0#N&BB58@4%>&"9&8#9704M#7&4@78#@F#%2/"<#<02 7&G&"%&2#F@7#N&0;@"2#;%74.02&2)#0L%2&2#0<0/"29#/92#@N" ;&@;B&)#<7@22#"&&"9#@F /"8%297E)#;@9&"9/0BBE#;7@G/8/"<#9.07M#F@7#F%79.&7#G/@B&"9 2@4/0B#%"7&29J#j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�L/B/9E#9@#4@>;7@>/2 .&/7#@N"#2@4/0B 7&2;@"2/L/B/9E#290"80782#0"8#8@>&29/4#B0N2)#907"/2.#9.&/7 4@7;@709&#/>0<&)#0"8#&T;@2 .&>#9@#4@29BE#B/9/<09/@")#9.%2 ;B04/"<#9.&/7#/"G&29>&"9#;7@F/B&#/"#I&@;078EJ
!)#%%/*0012*0%*3%4*#$0
X.&7&G&70B#088/9/@"0B#F/"0"4/0B#7/2M2#9@#8@/"< L%2/"&22#/"#=%7>0#0"8#N/9.#0#I%"90#8&247/L&8#02#0 H9.@7@%<.BE#%"7&B/0LB&K#L%2/"&22#;079"&7J!7#D"#&4@"@>/29 29%8E/"<#=%7>0#F@7#2&G&70B#E&072#0"0BE^&8#9.&2/2M2g a"#<&"&70B)#/"9&7"09/@"0B#/"G&29@72#/"#=%7>0#F04�" 0770E#@F#.%78B&2#0"8#@L2904B&2#/"#7&0B/2/"<#;7@F/9 F7@>#9.&/7#&"<0<&>&"9#/"#9.@%"97EJ#X.&2&#/"4B%8& 0#"&07#P$%,0%3*!"*-,2Q!@F#7/2M2)#/"4B%8/"&"9#9.09#/2 8&&;BE#4@77%;9Z#0#;@B/4E5>0M/"<#F70>&N@7M#9.09#/2 07L/9707E#0"8#/BB5/"F@7>&8#c0"8#0<0/"29#N./4.#9.&7&#/2 "@#0;;&0B)#@G&72/<.9#@7#044@%"90L/B/9EdZ#0 >047@&4@"@>/4#&"G/7@">&"9#4.07049&7/2&8#LE 70>;0"9#/"FB09/@"#0"8#./<.#B&G&B2#@F#;@G&79E#0"8 /"290L/B/9EZ#0"#&T4.0"<˅& .09#/>;@2&2#0" />;B/4/9#0"8#%"290LB&#B&GE#@"#F@7&/<"#/"G&29>&"9#0"8 9708&Z#0#4%77&"4E#9.09#/2#%2&B&22#02#0#29@7&#@F#G0B%&) 0"8#N./4.#24074&BE#F%"49/@"2#02#0#>&0"2#@F &T4.0"<&Z#0"#&"G/7@">&"9#/"#N./4.#9.&7&#/2#9.&#"&075 9@90B#0L2&"4&#@F#;7@;&79E#7/<.92#0"8#2&4%7/9E#0<0/"29 07L/9707E#022&9#2&/^%7&Z#07L/9707E#0"8#2./F9/"<#L%78&"2 @F#90T09/@"#0"8#8%9E#B&G/&2Z#0"8#<70G@%L92#0L@%9 9.�L/B/9E#@F#F@7&/<"#F/7>2#9@#7&;097/09&#;7@F/92)#0"8 @9.&7N/2ϊ"2F&7#>@"&E#/"#0"8#@%9#@F#9.@%"97EJ c`7J#?&0"#X%7"&BBd):9
-@7;@709/@"2#9.09#07ଢ଼&5@N"&8#>0E#F04&8%4&8 ;7@F/92)#;7@;&79E#0"8#022&9#2&/^%7&)#@7#;%LB/4#7&B09/@"2 8/2029&72)#0BB#@F#N./4.#N/BB#70/2&#b%&29/@"2#F7@>#9.& 4/9/^&"7E#0L@%9#9.&#>0"0<&>&"9#@F#;%LB/4#F%"82#/" @G&72&02#/"G&29>&"92J >%3#,(*9!J("O" X.&#;/;&B/"@%9&#;022&2#9.7@%<.#07&02#;079BE#4@"97@BB&8 LE#&9."/4#4&02&#F/7&#<7@%;2)#/"4B%8/"<#9.&#?.0"#?909& D7>E5Q@79.#c??D5Qd)#9.&#_04./"#`&F&"4&#D7>E#c_`Dd 0"8#9.&#CE0">07#Q09/@"0B#`&>@4709/4#DBB/0"4&#D7>E cCQ`DDdJ#=%7>012#7&&#/"#&07BE#*++,#099&>;9&8#9@ ;%9#9.&2&#<7@%;2#%"8&7#/92#4@"97@B#LE#;7&22%7/"<#9.&>#9@ 970"2F@7>#02#H=@78&7#A%078#i@74&2JK#=@9.#9.&#??D5 Q@79.#0"8#9.&#CQ`DD#7&I&49&8#9.&#/8&0)#/"47&02/"< >/B/907E#9&"2/@"2#N./4.#58&2;/9&#-./"&2&#<@G&7">&"9 /"9&7G&"9/@"#9@#"&<@9/09�#2&99B&>&"95#B&8#9@#0#=%7>&2& 07>E#09904M#@"#9.&#CQ`DD#.&08b%079&7#@"#D%<%29#*\J X.@%20"82#@F#4/G/B/0"2#.0G&#FB&8#0"8#90M&"#7&F%<&#/"#-./"0J X./2#F/<.9/"<#4@%B8#&240B09�"8#2;7&08#047@22#9.&0#@F 9.&#;B0""&8#;/;&B/"&2J X.&#F049#9.09#=%7>0#8@&2#"@9#%2&#/92#@N"#&"&7<E#9@#209/2FE B@40B#"&&82#0"8#8&G&B@;#/92#@N"#/"8%297E#/2#47&09/"< F7%29709/@"#0"8#0"<&7#0>@"<29#9.@>&29/4#;@;%B09/@")#02 &G/8&"4&8#LE#9.&#%";7&4&8&"9&8#8&>@"29709/@"2#/"#D%<%29 0"8#?&;9&>L&7#*++\J#X.&#L@/B/"<#F7%29709/@"#@F#@"&#B@40B 4@>>%"/9E#/"#D70M0"#?909&#&T;B@8&8#/"#D;7/B#*++\#0F9&7 9.&#-./"&2&#@/B#4@>;0"E#-Q!!-#4@"F/2409&8#F07>#B0"82
=&,%.(18.%!8#"(&%""!$1,*&%, 65$. '$%+2+(,. (-. &5$. /$3+)$. &(. 2$**. &5$. V5C$. 312. &( 4OP4.1&.&5$.;$*(C8)1/<$&.#/+%$.(-.QVW@.#$/.ET6Q C12. 1. ;*(C. &(. &5$. V5C$. %(,2(/&+0)? !". B1$C(( D,&$/,1&+(,1*.C12.(0&/13$'.1,'.%*1+)$'.&51&.&5$.*(C #/+%$.C(0*'.0,-1+/*F./$'0%$.#/(-+&.)1/3+,2.-(/.&5$.D,'(8 X(/$1,. %(,2(/&+0)?. 7. &$1). (-. *$31*. $"#$/&2. 1,' B1$C((.$"$%0&+=$2.C12.2$,&.&(.%51**$,3$.&5$.'$%+2+(, ;$-(/$.&5$.T0/)$2$.(--+%+1*2.;0&.C$/$.0,20%%$22-0*?!!
0"8#8/24.07<&8#4.&>/40B2#/"9@#9.&#B@40B#N09&7N0EJ#f@40B 7&2/8&"92#L7@M&#/"9@#0"8#70"204M&8#-Q!!-12#87/BB/"< 2/9&)#8&297@E/"<#&b%/;>&"9#0"8#B@@9/"<#2%;;B/&2J:8#?%4. /"4/8&"92#4@%B8#&240B09&#/"#7&2;@"2 @#F%79.&7 8&G&B@;>&"92#/"#9.&#@/B#0"8#<02#2&49@7#N/9.#"@ ;079/4/;09/@"#@F#B@40B#4@>>%"/9/&2J e&5/<"/9/@"#@F#F/<.9/"<)#0"#/"47&02&#/"#.%>0"#7/<.92#0L%2&2 c2&&#"&T9#2&49/@"d)#0"8#@7#9.&#"&<09/G@4/0B#/>;0492#@F 9.&#;7@I&492#N/BB#/"47&02 .&#FB@N#@F#7&F%<&&2#9@ "&/<.L@7/"<#4@%"97/&2J#X.&#/"47&02/"<#<0;#L&9N&&"#9.& >/B/907E#@FF/4/0B2#0"8#9.&#<&"&70B#;@;%B09/@"#/"#=%7>0#0"8 9.&#<0;#L&9N&&"#=%7>0#0"8#/92#"&/<.L@72#0B2@#F%79.&7 9.7&09&"2#7&07)#?&47&907E)#i@7%>#F@7#`&>@4704E#/"#=%7>0
<-2$.(3(*9!1&'!R#21&!J(/+*"!S8#"%"!J("O" X.&#@/B#0"8#<02#;/;&B/"&2#N/BB#;022#9.7@%<.#**#9@N"2./;2 0B@"<#0#,[+#M>#4@%72/@22#=%7>0)#0#I@%7"&E#F/F9&&" 9/>&2#B@"<&7#9.0"#9.&#B0"8#;@79/@"#@F#=%7>012#]080"0k ]&90<%"#;/;&B/"&2#c2&&#L@TdJ#-%77&"9BE#F@79E5F@%7#/"F0"97E 0"8#B/<.9#/"F0"97E#L0990B/@"2#07&#;@2/9/@"&8#0B@"<#9./2#7@%9&J O04.#L0990B/@"#.02#%;#9@#U++#2@B8/&72)#N./4.#>&0"2#9.09#09 9./2#9/>&#/9#/2#;@22/LB .09#9.&7&#%;#9@#'U)*++#2@B8/&72 ;@2/9/@"&8#0B@"<#9.@%9&#c2&&#>0;dJ a"4/8&"92#@F#/"47&02&8#8&;B@E>&"9#@F#97@@;2#F@7 /"F70297%49%7&#;7@I&492#07&#N&BB58@4%>&"9&8#/"#=%7>0J 6029#0"8#;7&2&"9#&T;&7/&"4&2#2.@N#9.09#N.&"#>/B/907/^09/@" .02#@44%77&8#0B@"<2/8&4%7/"<#&T97049/G&#/"G&29>&"92#/" =%7>0)#B@40B#;&@;B%LI&49#9@#0L%2&2#LE#9.&#=%7>0 D7>E#2%4.#02#F@74&8#B0L@%7)#2&T%0B#0220%B9)#F@74&8 7&B@409/@")#0"8#B0"8#4@"F/2409/@"J#X.&2�L%2&2#/"#9%7"#B&08 9@#8/2;B04&>&"9#0"8#>/<709/@"#@%9FB@N2J#X./2#;099&7"#/2 97%&#F@7#"09%70B#<02#&T97049/@"#02#N&BB)#02#9.&#&T;&7/&"4&#@F =%7>012#@9.&7#/"9&7"09/@"0B#;/;&B/"&2#;7@I&49)#9.&#]080"0k ]&90<%")#4B&07BE#8&>@"29709&2#c2&&#L@TdJ i@74&8#B0L@%7#.02#0B7&08E#L&&"#&>;B@E&8#F@7#7@082 4@"297%49/@"#/"#D70M0"#?909&)#088/"<#47&8/L/B/9E#9@#F&072 9.09#9.&#;7049/4@%B8#N&BB#/"47&02&#N/9.#4@"297%49/@"#@F 9.&#-./"&2&#;/;&B/"&2#0"8#022@4/09&8#/"F70297%49%7&J#a" D;7/B#*++R)#2@B8/&72#077&29&8#F/2.&7>&"#/"2/8�"#&T4B%2/@" ^@"@%"8#&T;B@709@7E#7/<2#/"#9.&#?.N&#<02#F/&B82J#X.& "+#%%/*0012*0%*3%4*#$0
>&"#N&7&#"@9#0N07&#@F#9.&297/49/@"2#02#9.&E#.08 F7&b%&"9BE#<@"&#F/2./"<#/"#9.09#07&0J#e&<078B&22#@F#9./2)#9.&E N&7&#L&09&"#0"8#9.7@N"#/"#I0/BJ:" f0"82#.0G�B2@#L&&"#4@"F/2409&8#F@7#7&4&"9#@"2.@7&#@/B &T;B@709/@"#049/G/9/&2#LE#9.&#-./"&2&#Q09/@"0B#!FF2.@7&#!/B -@7;@709/@"#c-Q!!-d#/"#=B@4M#C)#N./4.#/"4B%8&2 _E0%M#6.E%)#9./9&#@F#9.&#;B0""&8#@/B#9&7>/"0BJ:##f@40B 0%9.@7/9/&2#;/BF&7&8#9.&#;0B97E#4@>;&"209/@"#>@"&E#9.09 N02#@FF&7&8J#X.&7&#/2#"@#7&02@"#9@#L&B/&G .09#2%4. /"4/8&"92#N/BB#"@9#.0;;&"#0<0/"J X.&#>/B/907E#;7&2&"4&#/"#D70M0"#?909&#.02#F@74&8#>0"E#9@ B/G&#/"#4@"290"9#F&07#@F#077&29#@7#9@#FB&&J#a"8/G/8%0B2#N.@ .0Ga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cD49/G/29d
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
'#99#-,/$%*8(""4$9-6*:/%,9,/$40*#-/$5*914*8/"",0/"
Lashio Mandalay
Shwe
Magwe
Naypyidaw
!E$%0)$%1$$2/7%5'*5$)*$1%0<'6,%,#$ Kyauk Phyu 2/0**$1%&03%0*1%'./%2.2$/.*$3%4)'+ = 1 battalion or 250-300 soldiers 9)0A0*%=,0,$%,#)'6&#%=#0*%=,0,$%,' F#.*08%"#$%3'5.0/%0*1%$*(.)'*+$*,0/ ,-.#/#0-123454#3675#-8 5-9:7;627# /:<# =/55/36-:7> .+205,3%'4%,#.3%2)'G$5,%0)$%&'.*&%,'%<$ 744#?224:<6@#" Rangoon #6&$;%<6,%/'50/%5'++6*.,.$3%/.(.*& 0/'*&%,#$%2.2$/.*$%)'6,$%#0($%<$$* *$.,#$)%.*4')+$1%*')%5'*36/,$18 H$0*-#./$%,#$%)$&.+$%-.//%&$,%+')$%+'*$7%,'%<6./1%62%.,3%0)+7%0*1%5'*,.*6$%,'%)02$;%,'),6)$%0*1%A.// -'+$*8D>%C)+,"4()05"'2+,-".()+"D25&+<9"D49/@"#Q&9N@7M#c?lDQd !"#$%&'(%)*+$,$-.%%%"!
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`/$,%5.%(0/&2.-(/.%()#*+%+&F.+,.&5$ 1;(=$.1;02$2?.D,.$1/*F._[[ZK.1-&$/.F$1/2.(-.*+&+31&+(,K.6(&1*.1,'.45$=/(,K.C5+%5.1;2(/;$'.Q,(%1*K.2$#1/1&$*F.13/$$'.&(.#1F )0*&+8)+**+(,.'(**1/.2$&&*$)$,&2.&(.T0/)$2$.#*1+,&+--2.1,'.51=$.-1%$'.+//$#1/1;*$.51/).&(.&5$+/.,1)$2.+,&$/,1&+(,1**F? D,.O(=$);$/._[[[K.&5$.T0/)1./$3+)$.;$31,.%(,2&/0%&+(,.(-.1.9a[8)+*$.2#0/.*+,$.-/().X1,;10<.+,.E(,.V&1&$.&(.EF1+,3 X1*1F.+,.X1/$,.V&1&$.&(.#+#$.312.-/().&5$.Y1'1,1.-+$*'2.&(.1.%$)$,&.-1%&(/F?.E(/$.&51,._K@[[.1%/$2.(-.*1,'.C$/$.2$+R$' +,.%*$1/+,3.&5$./(0&$b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c(02+,3.1,'.20##(/&+,3 &5$2$.&/((#2.512.*$'.&(.&5$.2$+R0/$.(-.)(/$.&51,.9_K[[[.1%/$2.(-.*1,'.1,'.&5$2$.&/((#2.1/$./$2#(,2+;*$.1./1-&.(-.=+(*$,& 1;02$2K.+,%*0'+,3.&(/&0/$K.)0/'$/.1,'./1#$? ""#%%/*0012*0%*3%4*#$0
-@>;0"/&2#/"G@BG&8#/"#9.&#?.N&#A02#67@I&49#0"8#9.& X70"25=%7>0#!/B#-@77/8@7#N/BB#L@>;B/4/9#/"#0"E#0L%2&2 022@4/09&8#N/9.#9.&2&#;7@I&492J#X./2#N/BB#LP>0>%"/9/&2#L%9#0B2@#9@#9.& 4@>;0"/&21#7&;%909/@"2#0"8#/"G&29@7#4@"F/8&"4&J#X./2#/" 9%7"#.02#8/;B@>09/4#/>;B/409/@"2#F@7#<@G&7">&"92) &2;&4/0BBE#/F#/"G@BG&8#4@>;0"/&2#07ଢ଼&5@N"&8)#02#/"#9.& 402&#@F#-./"012#-Q6-J ?.07&.@B8&72#047@22#9.&#N@7B8#07&#/"47&02/"0"#7/<.92#/>;B/409/@"2#@F#/"G&29>&"92#0"8#07& ;%BB/"<#@%9#@F#4@7;@709/@"2#9.09#8@#"@9#%;.@B8#&9./40B L%2/"&22#290"80782#c2&&#-Q6-g#i/729#?%80")#Q@N =%7>0mdJ#X.&#B0N2%/92#L7@%<.9#0<0/"29#X@90B#0"8#S"@40B c"@N#-.&G7@"d#/"#9.&#]080"0#402&#I%29#@"&#&T0>;B&#@F .@N#B&<0B#049/@"2#07�B2@#L&/"<#90M&"#0<0/"29 4@7;@709/@"2J#X.&#a"9&7"09/@"0B#f0L@%7#!7<0"/^09/@"#.02 0B2@#L&&"#/"G&29/<09/"<#0"8#.02#4@"8&>"&8#=%7>0#F@7#/92 %20<&#@F#F@74&8#B0L@%7J D9#9.> />&)#9.&#B04M#@F#;079/4/;09/@"#LE#0FF&49&8 4@>>%"/9/&2#/2#0#8/7&49#4@"9708/49/@"#9@#9.ଢ଼&8#2@4/0B 7&2;@"2/L/B/9E#290"80782#@F#4@>;0"/&2J#X.&#;7/"4/;B&#@F 4@"2%B909/@"#N/9.#0FF&49&8#4@>>%"/9/&2#/2#/"4B%8&8#/"#9.& 8@>&29/4#B0N2#@F#-./"0)#?@%9.#_@7&0)#0"8#a"8/0#L%9#8@&2 "@9#970"2B09 @#9.&/7#@G&72&02#/"G&29>&"92J#?%4. 4@"9708/49/@"2#80>0<@7;@709&;%909/@"#0"8#7&FB&49 L08BE#@"#9.&#.@>@%"97/&2#@F#9.@2@7;@709/@"2J
#'1&X!L-5!V#,21Y -./"012#-Q6-#P#9.&#L%E&7#@F#9.&#?.N&#A02#0"8#L%/B8&7 @F#9.&#;/;&B/"&2#9@#-./"0#P#.02#0B7&08E#F04&8#B07<&5240B& 8/G&29>&"9#F7@>#/92#2%L2/8/07E#6&97@-./"0#F@7#/92#7&B09/@"2 N/9.#9.&#?%80"&2&#<@G&7">&"9J#i/8&B/9E#a"G&29>&"92#0"8 =&7M2./7&#j09.0N0E#8/G&29&8#0#4@>L/"&8#R#L/BB/@"#8@BB072 F7@>#9.@>;0"E#/"#*++\#8% @#9.@>;0"E12 4@""&49/@"#9@#9.&#G/@B&"4&#/"#`07F%7J:5#-Q6-12#@;&709/@"2 .0G&#;7@G/8&8#2/<"/F/40"9#7&G&"% @#9.&#?%80"&2& <@G&7">&"9#0"8#@/B#/"F70297%49%7&#.02#L&&"#%2&8#LE >/B/907EJ#D"#0""%0B#022&22>&"9#@F#4@7;@709/@"2#07@%"8#9.& @"<#9. @;#9&"#N@729#/"#*++[J:6 #$%#X*"'4("1+5237*"45"FJ)+5
%&'(') ;<%;) -,=>1(,
!"#$%&'(%)*+$,$-.%%%"$
K%"*,#3*(-&!-0!T&)(,-&2%&*1.!R%1.*+!1&' V(-'()%,"(*9 a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
"%#%%/*0012*0%*3%4*#$0
T&'1&/%,%'!"$--&D8(..%'!"1&'$($%," D70M0"12#4@0290B#>0"<7@G&2#07&#;079#@F#9.& L/@B@#;&7F@7>/"<#@"&#@F#9.&#F/729#2%7G&E2#@F#9.& D70M0"#4@029#/"#*++[#F@%"8#[R#@F#9.&#%"/b%&#L/782 02#N&BB#02#2&G&70B#@9.&7#
E:*94@2#$<03%$<4@G:* C0"<7@G&#F@7&292#;7@G/8�#G/90B "09%70B#;7@9&49/@"#0<0/"29 4E4B@"&2)#29@7>#2%7<&2)#0"8#9/80B N0G&2J#X.&#N@7B8#.02#L&4@>& ;0/"F%BBE#0N07&#@F#9.P"<&72#@F >0"<7@G&297%49/@"#0F9&7#9.& *++R#D2/0"#X2%"0>/#0"8#=%7>012 -E4B@"&#Q070"<7@G&2)#0 2%L2&9#@F#9.&#CE0">07#-@0290B C0"<7@G&2)#07&#/>;@790"9#F@7 4@0290B#;7@9&49/@"#/"#0"#07&0#9.09 F7&b%&"9BE#2%FF&72#F7@>#>@"2@@" 29@7>2J#X.&E#07�B2@#7&4@<"/2&8 F@7#9.&/7#L/@8/G&72/9EJ#X.&0) %"9/B#7&4&"9BE#(+)+++#2b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�"8#N/B8B/F #7/2M#/F#9.&7& 07�"E#2;/BB2#@7#/>;7@;&7#8/24.07<&#@F#N029&J !"#$%&'(%)*+$,$-.%%%"&
!)99#$<0%?4@**0;#@'#G:4*#920":%49=%$'* =02&8#@"#9.&#;029#./29@7E#@F#9.&#]080"0k]&90<%"#;/;&B/"&2) 9.&#?.N&#;/;&B/"&2#0"8#044@>;0"E/"<#/"F70297%49%7&#N/BB 7&b%/7�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a"#088/9/@"#9@#9.&#L/8@G&7/29E 2;@92#0B@"<#9.&#;/;&B/"@%9&)#7/<2#09#2&0#>0E#/>;049 >07/"&#B/F�"8#4@70B#7&&F2#@FF#9.@029J AB@L0B#*++#O4@7&@29#47%4/0B#9@#9.& 4@"2&7G09/@"#@F#05-./"0 ;/;&B/"&2#N/BB#4%9#9.7@%<.#9N@#2%4.#7&
"'#%%/*0012*0%*3%4*#$0
L1/1DZ1&($#,(D<+(&!R(.."!Z-("*!N-,%"*")#@"&#@F#9.& '+#>@29#G%B"&70LB&#F@7&292#/"#9.&#N@7B8#9.09#.02#B07<& 970492#@F#/"9049#F@7&29#0"8#.02#E&9#9@#L&#;7@;&7BE#29%8/&8) 0"8#N./4.#/"4B%8&2#9.&g >6@+*'41>'06:3*1J'-"60%?'60%W+*$(.(#P#0#%"/b%&#L/@5 <&@<70;./4#47@227@082#N.&7�"/>0B2#0"8#;B0"92#F7@>#9.& a"8/0")#a"8@5C0B0E0")#0"8#a"8@5-./"&2&+0.'0$%W+*$(.(#P#.@>&#@F 9.&#D70M0"#F@7&29#9%79B&)#0>@"<#9.&#*V#>@29#&"80"<&7&8 9%79B&2#/"#9.&#N@7B8J"$ >$C"'7';'%!3A.*+:6-'7%W+*$(.(#P#.@> @#>@7 .0" ''+#>0>>0B#2;&4/&2)#/"4B%8/"<#9. /<&7)#D2/0"#&B&;.0"9) N/B8#8@<)#2>@@9.54@09&8#@99&7)#0"8#40;;&8#B&0F#>@"M&EJ L-,*+%,&![&'-3+(&1!>#8*,-$(31.!N-,%"*"X#0#47@227@082 @F#9.&#j/>0B0E02#0"8#97@;/40B#F@7&292)#7/4.#/"#&"8&>/4#L/78 B/F&)#N./4.#/"4B%8&2#9.&#]%""0"#6B09&0%#?%L97@;/40B OG&7<7&&"#i@7&292
l/9.@%9#0"E#>&4.0"/2>2#/"#;B04 @#&"2%7&#;7@;&7#0"8#&"G/7@">&"90BBE52@%"8#022&22>&"92)#;B0""/"<)#0"8#;7@4&8%7&2) 9.&#;7@I&49#4@%B8#L/20297@%2#9@#07&02#@F#./<.#G0B% @#9.&#N@7B812#L/@8/G&72/9EJ
%&'(') ?.
D#2&9#@F#-./"&2&#<@G&7">&"9 <%/8&B/"&2#9.09#N/BB#7&b%/7&#-./"&2& 4@>;0"/&2#@;&709/"<#@G&72&02#9@ F@BB@N#&"G/7@">&"90B#290"80782#/2 4%77&"9BE#0N0/9/"<#0;;7@G0B#F7@>#9.& 7&B&G0"9#0%9.@7/9/&2#0F9&7#L&/"< 870F9&8#LE#9.&#C/"/297E#@F O"G/7@">&"90B#67@9&49/@"#0"8#9.& C/"/297E#@F#-@>>&74&#/"#-./"0J D44@78/"<#9@#9.&#;7@;@2&8 <%/8&B/"&2)#-./"&2@>;0"/&2#N/BB L&b%/7&8#9@#0L/8&#LE#/"9&7"09/@"0B &"G/7@">&"90B#97&09/&2#-./"0#.02 2/<"&8#02#N&BB#02#7&<%B09/@"2#/" ;7@I&49#.@29#4@%"97/&2J#aF#-./"012 &"G/7@">&"90B#290"80782#07&#./<.&7 9.0"#9.&#.@29#4@%"97/&21)#-./"&2& /"G&29@72#2.@%B8#F@BB@N#-./"&2& 290"80782J#-./"012#@%9L@%"8 /"G&29@72#N/BB#0B2@#LM&8#9@#7&G/&N 0"E#&"G/7@">&"90B#/>;049#9.&/7 ;7@I&492#>/<.9#.0G&#L&F@7 .&E#07& 29079&8J"5
I&3"J5)37S*1J)43)"C7+2+5"9'+*1"4*"J5)37"1&73+1"D7'@"'DD*&'73"?+*"3Q17+914'5"+5) 6'13514+("'4("*64((*"D7'@"'4("*1'7+?3"D+94(4143*"+5)"'4("1+5237"17+DD49
a9#/2#02#E&9#%"M"@N"#N.&9.&7#9.&2& <%/8&B/"&2#N/BB#L�;B/&8#9@#9.p"25=%7>0#;/;&B/"&2J#X@#809&)#.@N&G&7)#"@#&"G/7@">&"90B#/>;049#022&22>&"92#@F &/9.&7#9.&#?.N&#A02#67@I&49#@7#9.&#=%7>05-./"0#@/B#970"2F&7#.0G&#L&&"#>08&#;%LB/4J !"#$%&'(%)*+$,$-.%%%"(
%&'(') (+=
W'9+("6'6J(+14'5*")3635)"'5"1&3"(+5)Y":+137"+5)"5+1J7+("73*'J793*"D'7"D+7@45?Y"D4*&45?Y"+5)"7+:"@+1374+(*"5393**+7R"D'7"3K37R)+R (4D3."C5R")+@+?3"1'"1&3"35K47'5@351":4(("453K41+N(R"4@6+91"(4K3(4&'')*."HR"1&3"*+@3"1'235Y"D'793)"(+N'J7Y"3Q1'714'5"+5)"(+5) 9'5D4*9+14'5"NR"1&3"HJ7@+"C7@R"1&+1"+99'@6+543*"45973+*3)"@4(41+74Z+14'5"1&73+135*"('9+("39'5'@43*"+5)"(4K3(4&'')*. ")#%%/*0012*0%*3%4*#$0
(%"(/'5!%"
a"#0#4@%"97E#N.&7�"#&29/>09&8#9N@#>/BB/@"#07& /"9&7"0BBE#8/2;B04&8#0"8#@G&7#9N@#9.@%20"8#07& I0/B&8#F@7#;@B/9/40B#L&B/&F2)#9.B&#@F#9.&#?.N& A02#0"8#L%/B8/"<#@F#9.p"25=%7>0#4@77/8@7 2@B/8/F/&2#9.�L/B/9E#@F#9.&#>/B/907E#I%"90#7%B/"< =%7>0#9@#.@B8#9.@%"97E#.@290<&J#X.&#"&07BE @"&#L/BB/@"#/"#7&G&"% .09#9.&#<02#20B&2#N/BB#L7/"< /"#0""%0BBE)#4@>L/"&8#N/9.#9.&#;@B/9/40B#;7@9&49/@" 9.09#-./"0#;7@G/8&2#9.&#I%"90#/"#/"9&7"09/@"0B#F@70 07&#;%99/"<#9.&#;&@;B&#@F#=%7>0#/"#<70GP"<&7J ]&9#9.@>;0"/&2)#<@G&7">&"92)#0"8#/"G&29@72 /"G@BG&8#/"#9.&2&#;7@I&492#07�B2@#G%B"&70LB @ F/"0"4/0B#B@22&2#F7@>#7&5/<"/9/@"#@F#F/<.9/"<#0B@"< 9.&#;/;&B/"@%9&)#;%LB/4#7&B09/@"2#8/2029&72)#0"8 4@29BE#B/9/<09/@"J#a9#/2#"@9#9@@#B09 @#29@;#9./2 8/2029&7#F7@>#%"F@B8/"<J
!"#$%&'(%)*+$,$-.%%%"*
4-(4104!7"-(4//-4"&-4-)!5!%"
=%7>0#.02#"@#B0N2#9@#;7@9&49#.%>0"#7/<.92#@7#9.&#&"G/7@">&"9)#0"8#/92#07>E)#N./4.#N/BB#4B&07#07&02#0"8#;7@G/8&4%7/9E F@7#9.&#;/;&B/"&2)#7&;&09&8BE#0492#N/9.#/>;%"/9EJ#a"#@78&7#9@#F%BBE#;7@9&49#9.�FF&49&8#4@>>%"/9/&2#0"8#&"G/7@">&"9#/" =%7>0#F7@>#9./20297@%2#/>;0492#@F#9.&#?.N&#A02#0"8#9.p"25=%7>0#-@77/8@7#;7@I&492)#N(BBg 1."$!Q'$#++%O0.$*0'.6+0'7%-+0(+*.634B%%."$%8T)8%'09!%."$6*%"+(.%-+30.*6$(%.+0*)*I:$'09":0,">:0K%* '09%."$0N4%$*O6)43%0!@44#'@40I4@M:?9*Z 1("'*$"+79$*(B%60(.6.3.6+0'7%60G$(.+*(%'09%:$0(6+0%=309(%.+0'#G:*909":#40"@='#$<*%60%."$($%-+4:'06$(Z 1A'0K(%.+%4:P4%#$0P4@30P#$%$?#$<%."$($%:*+,$-.( %307$((%."$%=+77+#60C%-+096.6+0(%$E6(.[ <-22#&(*9!,(/+*"!1,%!$,-*%3*%' !
f@40B#;&@;B&#>%29#L@"2%B9&8#0"8#0BB@N&8#9@#;079/4/;09&#/"#9.&4/2/@"5>0M/"<#;7@4&22#07@%"8#;7@I&492#N/9.@%9 F&07#@F#;&72&4%9/@"#044@78/"<#9@#9.&#;7/"4/;B&2#@F#Hi7&�"8#67/@7#a"F@7>&8#-@"2&"9K#L&F@7 .&#;7@I&492#07& />;B&>&"9&8
!
-%>%B09/G&#O"G/7@">&"90B)#?@4/0B#0"8#j%>0"#e/<.92#a>;049#D22&22>&"92#>%29#L&#%"8&790M&"#0"8#;%LB/2.&8J X.&2&22>&"92#>%29#/"4B%8&#<&"%/"�"8#4@"F/8&"9/0B#4@"2%B909/@"#N/9.#0FF&49&8#4@>>%"/9/&2
!
X.&7&#>%29#L&#>&4.0"/2>2#/"#;B04&#N.&7&LE#0FF&49&8#;&@;B("#>0M@>;B0/"92#@F#0"E#0L%2&#@F#;@N&7#52%4.#02 .%>0"#7/<.92#0L%2&#@7#&"G/7@">&"90B#8&<70809/@"5#/"#7&B09/@"#9@#9.&G&B@;>&"9#;7@I&49)#N/9.@%9#F&07#@F#7&97/L%9/@"
!
D8&b%09@>;&"209/@"#F@7#0"E#7&B@409/@")#B0"8#2&/^%7&)#@7#;7@;&79E#80>0<&#>%29#L&#;7@G/8&8#8/7&49BE#9@#9.& 0FF&49&8#;&@;B&
$+#%%/*0012*0%*3%4*#$0
>*1&'1,'"!-0!(&)%"*2%&*!1,%!2%* !
67@I&49#/"G&29@72#0"8#/>;B&>&"9&72#>%29#F@BB@N#/"9&7"09/@"0B#.%>0"#7/<.92#B0N2)#&"G/7@">&"90B#97&09/&2)#!O-` A%/8&B/"&2)#0"8#9.&#B0N2#@F#9.&#/"G&29@721#.@>@%"97/&2J
!
DBB#&>;B@E&72#/"G@BG&8#/"#@/B#0"8#<02#;7@I&492#>%29#0L/8&#LE#/"9&7"09/@"0B#B0N2#/"#044@780"4&#N/9.#0<7&&>&"92#@F 9.&#a"9&7"09/@"0B#f0L@%7#!7<0"/^09/@"#caf!d
6,1&"$1,%&39!1&'!133-#&*18(.(*9!2%3+1&("2"!1,%!(&!$.13% !
e&G&"%p"2;07&"4E#>%29#L&#;7049/4&8#/"#7&B09/@"#9@#0BB#"09%70B#7&2@%74&G&B@;>&"9#;7@I&492)#29079/"<#N/9.#9.& />;B&>&"909/@"#@F#9.&#OT97049/G&#a"8%297E#X70"2;07&"4E#a"/9/09/G&#cOaXad
!
DBB#4@"G&"9/@"2#0"8#4@"970492#7&<078/"<#@/B#0"8#<02#&T;B@709/@"#/"#=%7>0#2.@%B8#L&#>08&#;%LB/4J#a"G&29@72#2.@%B8 7&"@%"4@"F/8&"9/0B/9E#4B0%2&2#9.09#7&297/49#;%LB/4#8/24B@2%7&#@F#;0E>&"9#709&2#0"8#7&;@79/"<#24.&8%B&2J
!
!/B#0"8#<02#4@>;0"/&2#>%29#;7@G/8&#M&E#/"F@7>09/@"#7&<078/"<#9.&90/B2#@F#@/B#0"8#<02#7&G&"%&#<@/"<#8/7&49BE#9@ 9.&#>/B/907E#7&&)#/"4B%8/"&#@F#@/B#0"8#<02#;7@8%4&8#0"8#2@B8 5#20B&#;7/4&#@F#@/B#0"8#<02 5#&T4.0"<˅&#F@7#970"2049/@" #5709&#@F#90T&2)#L@"%2&2)#7@E0B9/&2)#0"8#F&&2#;&790/"/"<#9@#@/B#0"8#<02#&T;B@/909/@"#0"8#970"2;@7909/@" X.&#?.N&#A02#C@G&>&"9#L&B/&G&2#9.09g
!
X.�BB@409/@"#0"8#%9/B/^09/@"#@F#0BB#/"G&29>&"9#F%"82#>%29#L&#;B04&8#/"9@#9.&#Q09/@"0B#=%8<&9J#X.&#L%8<&9#2.@%B8#L& >0"0<&8#/"#0#970"2;07&"9#0"8#;079/4/;09@7E#>0""&7)#N/9.#;7/@7/9E#2&49@72#2%4.#02#.&0B9.#0"8#&8%409/@"#F/"0"4&8#LE 9.&#>0I@7/9E#@F#9.&G&"%&2J
!
\(*+-#*!1!'%2-3,1*(3!/-)%,&2%&*!1&'!0(&1&3(1.!*,1&"$1,%&39X!*+%"%!(&)%"*2%&*"!5(..!0#,*+%,!%&*,%&3+ *+%!-$$,%""()%!]#&*1!,#.(&/!V#,21 !"#$%&'(%)*+$,$-.%%%$!
+,4#-8%'-(4"-&% X.&#?.N&#A02#C@G&>&"9#L&B/&G&2#9.09#9.&#@"BE#N0E#9@#;7&G&"9#>022/G&#"&N#7&G&"%&2#B/"/"<#9.&#;@4M&92#@F#=%7>012 >/B/907E#<&"&70B2)#/>;&"8/"<#.%>0"#7/<.92#0L%2&2#0"8#&"G/7@">&"90B#80>0<&)#/2#9@#.0B9#9.&2&#;7@I&492J#l�BB#/"G@BG&8 /"#@"&#N0E#@7#0"@9.&7)#&/9.&7#02#2.07&.@B8&72#/"#4@>;0"/&2#@7#02#4/9/^&"2#@F#4@%"97/&2#9.09#07&#/"G@BG&8#/"#9.&#;7@I&492J#aF#N& N@7M#9@<&9.&7#N&#.0G .&#;@N&7#L%/B8#0#L&99&7#F%9%7&#F@7#=%7>0#0"8#9.&&"9#@7#;&"2/@"#F%"8#9@#/"G&29/<09&#N.&9.&7#/9#.02#/"G&29&8#/"#9.@7;@709/@"2#N/9.#290M&2#/"#9.&#?.N&#A02 67@I&49#@7#9.p"25=%7>0#!/B#-@77/8@7#0"8#/F#2@#%7< .&>#9@#8/G&29#F7@>#9.&2/2ME#;7@I&492J#6B&02&#G/2/9#09#NNNJ2.N&J@7< HA!W1,*(3($1*%!(&!'(,%3*!13*(-&" X.&#?.N&#A02#C@G&>&"9#0"8#/92#"&9N@7M2#4@@78/"09&<%B07#AB@L0B#`0E2#@F#D49/@"J#X.&7&#>0E#0B2@#L&#@9.&7#049/@"2 0770"<&8#/"#E@%7#4@%"97EJ#-@"9049#%2#F@7#8&90/B2#@F#9.&#"&T9#049/@"#09#&"92#40"#>0M�#8/FF&7&"4&o#i/"8#;7&5N7/99&"#B&99&72#9.09#E@%#40"#2&"8#LE#F0T#@7#;@29 9@#9.&2;&49/G@7;@709/@"2#0"8#<@G&7">&"92#09#NNNJ2.N&J@7;0/<" GA!>$,%1'!*+%!5-,' ?;7&08#9.&#N@78#0L@%9#9.&#;7@I&492#9@#E@%7#F7/&"82#0"8#"&9N@7M2Z#B/"M#E@%7#N&L2/9&#N/9.#9.&#?AC#2/9&Z#N7/9&#B&99&72#9@#9.& &8/9@7#@F#E@%7#B@40B#"&N2;0;&72#0"8#F0G@%7/9&#/"9&7"&9#2/9&2J#X.&#>@7&#;&@;B&#N.@#M"@N#N.09#/2#.0;;&"/"<)#9.&#>@7& 8/FF/4%B9#/9#N/BB#L&#F@7#4@7;@709/@"2#9@#./8&J FA!>(/&!#$!0-,!%D&%5".%**%," X.&#H?.N&#A02#=%BB&9/"K#/2#;7@8%4&8#7&<%B07BE#/"#O"&2&#B0"<%0<&2J#aF#E@%#N@%B8#B/M @#7&4&/G .&2& L%BB&9/"2#02#;8F#F/B&2#9.7@%<.#&5>0/B)#;B&02@"9049#D70M0"#!/B#l094.#09#070M0"p@NnE0.@@J4@>#@7#
6-!.-'/%!3-&3%,&"!-,!1"O!^#%"*(-&"!1*!*+%!%281""9!&%1,%"*!9-#!$.%1"%!)("(*M -./"&2&#&>L022/&2g .99;gkkNNNJF>;74J<@GJ4"k&"k4./"&2&5 &>L022E54@"904958&90/B25B/29J;.; .99;gkkNNNJ&>L022EN@7B8J4@>k&>L022Ek-./"0k -./"0'J.9>B =%7>&2&#&>L022/&2g .99;gkkNNNJ0"0"805970G&BJ4@>kS_k >E0">07p&>L022EpB/29p%MJ.9> .99;gkkNNNJ>E0">07G/20J4@>k>E"&>L022EB/29J.9> .99;gkkNNNJ&>L022EN@7B8J4@>k&>L022Ek=%7>0k =%7>0*J.9>B ?@%9.#_@7&0"#&>L022/&2g .99;gkkNNNJ2@%9.M@7&0"G/20J4@>k B/29p@Fp2@%9.pM@7&0"p&>L022E2J.9>B .99;gkkNNNJ&>L022EN@7B8J4@>k&>L022Ek ?@%9.p_@7&0k?@%9.p_@7&0'J.9>B a"8/0"#&>L022/&2g .99;gkk>&0/"8/0J"/4J/"k@">@%2&k>/22/@"J.9> N-,!#$'1*%!&%5"!1&'!13*(-&!(*%2"!$.%1"%!)("(*!555A"+5%A-,/
!"#$%&'(%)*+$,$-.%%%$$
400*"&!.-:;-(%104"8-0$%2!/*5 FGdb.VV!] Z[9a>dJ.*(2&.;+**+(,2.'0/+,3.1.'+=$2&)$,&.%1)#1+3,.+,._[[d?.4OP4.1,'.P$&/(45+,1.51=$.,$1/*F.%()#*$&$.(=$/*1#.+,.)1,13$)$,&? 5&&#]\\CCC?%,#%?%()?%,\$,3\%()#1,F\.7OB.5&&#]\\CCC?#$&/(%5+,1?%()?%,\#&/\ M.3N::& O/+30/.+<:/.=& K7:(+G& P:03.L >/<(&5*$' 0*/?%+(79%&1' :/4/;%&' /49' (3%&/*(&' ()' *+%' ,+-%' ./0' @&(<%8* B1$C((.D,&$/,1&+(,1*.3/$C.(0&.(-.&5$./$(/31,+21&+(,.(-.1.;1,d.;+**+(,.8.;0&.C12.+,._[[Z.-+,1**F.2$,&$,%$'.&(.9[ F$1/2.+)#/+2(,)$,&.1,'.-+,$2?.65$.V(0&5.X(/$1,.3(=$/,)$,&.20##(/&$'.&5$.$)$/3$,%$.(-.&5$.B1$C(( D,&$/,1&+(,1*.1,'.#/(=+'$'.1.QVWd[.)+**+(,.*(1,.-(/.&5$.$"#*(/1&+(,.2&13$2.(-.&5$.V5C$.H12.P/(S$%&? B1$C((.D,&$/,1&+(,1*.IBDJ.+2.V(0&5.X(/$1U2.*$1'+,3.$"#(/&.&/1'+,3.%()#1,F?.B1$C((.1*2(.20##*+$2.D6.2$/=+%$2.&(.T0/)1U2 /$3+)$.1,'.512.&+);$/.)1,0-1%&0/+,3.1,'.%*(&5+,3.+,&$/$2&2.+,.&5$.%(0,&/F?.D,.O(=$);$/._[[d.&5$.#/$2+'$,&.(-.B1$C(( D,&$/,1&+(,1*. C12. %(,=+%&$'. +,. 1. V(0&5. X(/$1,. %(0/&. -(/. +**$31**F. $"#(/&+,3. C$1#(,2. &$%5,(*(3F. &(. T0/)1?. . 5&&#]\\ CCC?'1$C((?%()\$,3*+25\%()#1,F\(=$/=+$C?S2#
$%#%%/*0012*0%*3%4*#$0
QHRF&S
400*"&!.-<;-34##4/!%"5-4"&-#%+"5,!05--4/%"7-(%$$!&%$ State/Division Shan
Township Mu-Se Kutkai Hsenwi Lashio Hsipaw Kyaukme Nawnghkio
Battalion # IB 123, IB 136 IB 45, IB 241, IB 242, IB 290, LIB 567, LIB 568 IB 69 IB 240 LIB 323 IB 41 IB 68 IB 291 LIB 507 LIB 522 IB 23 IB 131 IB 234 LIB 503 IB 22 LIB 501 LIB 502 LIB 17 LIB 114 LIB 115 LIB 504
Mandalay
Patheingyi Kyaukse Maymyo Singaing Tada-U Natogyi Taungtha Kyaukpadaung
LIB 116 LIB 119 LIB 14
Magwe
Chauk Yenangyaung Magwe Minbu (Sagu) Ngape
IB 13 LIB 416 IB 77 IB 83 LIB 301 LIB 317 IB 10 IB 88
Arakan
An
LIB 371 LIB 372 LIB 373
Arakan
Kyaukpyu
IB 34 LIB 542 LIB 543
fa=#q#f/<.9#a"F0"97E =0990B/@" a=#q#a"F0"97E#=0990B/@" 6/;&B/"&2#N/BB#;022#9.7@%<. **#9@N"2./;2 D#9@90B#@F#RR#a"F0"97E#0"8 f/<.9#a"F0"97E#L0990B/@"2 O04.#L0990B/@"#.02#%;#9@#U++ 2@B8/&72#F@7#0#9@90B#@F#%;#9@ 'U)*++#2@B8/&72 ?@%74&g#86G67%'09%>676.'*; R94606(.*'.6G$%\-"$7+0%+= ."$%!)Q8%60%23*4') Q&9N@7M#F@7#`&>@4704E 0"8#`&G&B@;>&"9)#C0E *++\
$'#%%/*0012*0%*3%4*#$0
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
400*"&!.->;-(4/('/4#!%"-%2-745-$*)*"'*5 D*+<J.+3&:?&J<=<+.01&Y(/+.Z*&*G.03&:?&03X3/(3*&?0:J&+G3&*.=3&:?&+G3&7GN3&R.* H+*3)"'5"T-"67')J914'5"R3+7*Y"+"*+(3"67493"'D"!"#$%&'(Y"+5)"CK+4(+N(3"=+*"73*37K3*"'D"/.B19D"! C(("+@'J51*"+73"45"EF"]'((+7*"+5)"7'J5)3)"1'"1&3"53+73*1"B--!"
e$=$,0$2.-/().21*$.(-.7=1+*1;*$.H12.h.:d?>:.;+**+(,$ 9[g.e(F1*&+$2.h.:?d>.;+**+(," G#$/1&+(,.1,'.4(,2&/0%&+(,.4(2&2.I4(2&.H12J.h.>?_:.;+**+(,! P/(-+&.H12.h._a?>>;+**+(,% VPB4.251/$.(-.P/(-+&.H12.h.9Z?_d.;+**+(,& 4(,2(/&+0).251/$.(-.P/(-+&.H12.h.9_?_a.;+**+(,# B+2%(0,&.-(/.B()$2&+%.H12.h._@Z.)+**+(,' 4(,2(/&+0).251/$.i.'+2%(0,&.h.99?a_.;+**+(, EGH!.251/$.(-.P/(-+&.H12.12.%(,2(/&+0).)$);$/.h.9?dd.;+**+(,( P/(-+&.H12.&(.,(,8EGH!.4(,2(/&+0).h.9[?[>.;+**+(, 61"$2.&(.VPB4.(,.,(,8EGH!.4(,2(/&+0).P/(-+&.H12.h._?Z_.;+**+(,) `$$2.-(/.&/1+,+,3.1,'.&$%5,(*(3F.h.:.)+**+(,$* P/('0%&+(,.;(,02$2.h.Z.)+**+(,$$ VPB4./$=$,0$2.IC\(0&.2+3,+,3.;(,02J.h.1##/("+)1&$*F._@?ZZ.;+**+(, j.P+#$*+,$.6/1,2+&.-$$.&(.VPB4.h.@?>.;+**+(,$"
_!1$$,-7(21*%.9!=>?!HEAH!8(..(-&!-)%,!@`!9%1,"!:=>?!EB`!2(..(-&!$%,!9%1,; !
"I&3*3"D4?J73*"+73"1+235"D7'@"6JN(49(R"+K+4(+N(3"45D'7@+14'5."]31+4(*"D7'@"1&3"F&:3"%7')J914'5"F&+745?"#'517+91"+5)";3@'7+5)+"'D E5)37*1+5)45?"&+K3"5'1"N335"@+)3"6JN(49. $)#%%/*0012*0%*3%4*#$0
D*+<J.+3&:?&J<=<+.01&Y(/+.Z*&*G.03&:?&03X3/(3*&?0:J&+G3&*.=3&:?&+G3&7GN3&R.* H+*3)"'5"T-"67')J914'5"R3+7*Y"+"*+(3"67493"'D"!"#$%&')*)+Y"+5)"CK+4(+N(3"=+*"73*37K3*"'D"/.B19D"! C(("+@'J51*"+73"45"EF"]'((+7*"+5)"7'J5)3)"1'"1&3"53+73*1"B--!"
e$=$,0$2.-/().21*$.(-.7=1+*1;*$.H12.h.d_?@:.;+**+(,$ e(F1*&+$2.I9[g.(-./$=$,0$2J.h.d?_@.;+**+(," G#$/1&+(,.1,'.4(,2&/0%&+(,.4(2&2.I4(2&.H12J.h.>?_:.;+**+(,! P/(-+&.H12.h.>A?AZ.;+**+(,% VPB4.251/$.(-.P/(-+&.H12.h.:@?9a.;+**+(,& 4(,2(/&+0).251/$.(-.P/(-+&.H12.h._>?da.;+**+(,# B+2%(0,&.-(/.B()$2&+%.H12.h.>9Z.)+**+(,' 4(,2(/&+0).251/$.i.'+2%(0,&.h._>?_Z.;+**+(, EGH!.251/$.(-.P/(-+&.H12.12.%(,2(/&+0).)$);$/.h.:?dA.;+**+(,( P/(-+&.H12.&(.,(,8EGH!.4(,2(/&+0).h._9?@d.;+**+(, 61"$2.&(.VPB4.(,.,(,8EGH!.4(,2(/&+0).P/(-+&.H12.h.>?a[.;+**+(,) `$$2.-(/.&/1+,+,3.1,'.&$%5,(*(3F.h.:.)+**+(,$* P/('0%&+(,.;(,02$2.h.Z.)+**+(,$$ VPB4./$=$,0$2.IC\(0&.2+3,+,3.;(,02J.h.1##".>9?>@.;+**+(, j.P+#$*+,$.6/1,2+&.-$$.&(.VPB4.h.@?>.;+**+(,$"
_!1$$7A!Fa!8(..(-&!-)%,!@`!9%1,"!:=>?!CAbB!8(..(-&!$%,!9%1,; !
"I&3*3"D4?J73*"+73"1+235"D7'@"6JN(49(R"+K+4(+N(3"45D'7@+14'5."]31+4(*"D7'@"1&3"F&:3"%7')J914'5"F&+745?"#'517+91"+5)";3@'7+5)+"'D E5)37*1+5)45?"&+K3"5'1"N335"@+)3"6JN(49. !"#$%&'(%)*+$,$-.%%%$*
N--*&-*%"!0-,!<1.3#.1*(-&" # "I&3"CSB"+5)"CST"N('92*":373"93714D43)"NR"=+DD53R"#(453"+5)"C**'94+13*"1'"&+K3"+5"3*14@+13)"+K+4(+N(3"73*37K3"'D",.A"S"/.B"174((4'5 9JN49"D331"U19DV."I&3"D47*1"9+(9J(+14'5"1+23*"1&3"&4?&"35)"'D"1&4*"7+5?3"1'?31&37":41&"1&3"*+(3*"67493"1&+1":+*"736'713)"+1"GA"637"@4((4'5 HIE"45"M--L."^]+3:''"'N8391*"1'";R+5@+7"?+*"67493Y_"P45)J*1+5"I4@3*Y";+R"`Y"M--L"+5)"^]+3:''"W+:R37*"a4*41"HJ7@+"1'"]4*9J** F&:3"=+*"]3+(Y^";+R"`Y"M--L.""/.B"19D"Q"-.--B-TB"Q"GA"b"GTL.,T"N4((4'5.""I&3"*39'5)"9+(9J(+14'5"1+23*"1&3"&4?&"35)"'D"1&4*"7+5?3"1'?31&37 :41&"1&3"*+(3*"67493"1&+1":+*"736'713)"+1"GL.LM"637"@4((4'5"HIE"45"M--/."^9'5'@49"I4@3*"UBT"dJ(."M--/V."/.B"19D"Q"-.--B-TB"Q"GL.LM"b"GLM.AMM"N4((4'5.CK37+?3"9'5K37*4'5"7+13"D7'@">537?R"c5D'7@+14'5"C?359RY &116eff1'51'.34+.)'3.?'Kf+*2f5?gD+\*.+*6h5?g9'5K37*4'5* $ "C(("+K+4(+N(3"*'J793*"45)49+13"1&+1"1&3"8J51+":4(("73934K3"+"B-0"7'R+(1R"'5"73K35J3*"D7'@"1&3"*+(3"'D"1&3"?+*.""!"""%7')J914'5"F&+745? #'517+91"ij+)+5+k"U/"dJ(."B//MV"+1"*39."B-.B"l"B-.Mm"%7')J914'5"F&+745?"#'517+91"iH('92"C]SBk"UB,"d+5."M--LV"+1"*39."B-.B"l"B-.Mm %7')J914'5"F&+745?"#'517+91"iH('92"C]S`k"UB,"d+5."M--LV"+1"*39."B-.B"lB-.Mm"#&74*143Y"^;R+5@+7e"""*&+73"45"1&3"#'5*'714J@."^;R+5@+7"*4?5*"J6"3537?R"6+71537*Y_"C*4+"I4@3*"<5(453"UB-"dJ(."M--`V. + "H+*3)"'5"+K+4(+N(3"45D'7@+14'5Y"1&3"1+Q"7+13"'5"67'D41*"4*"T-0"+D137"+"T"R3+7"&'(4)+R.""!""";3@'7+5)J@"'D"E5)37*1+5)45?"ij+)+5+k"U/ dJ(."B//MV"+1"*39."AU9Vm"F4)3"W31137"$'."TfMTf/M"UBOM-V"1'";3@'7+5)J@"'D"E5)37*1+5)45?"ij+)+5+k"U/"dJ(."B//MVm"E54'5"'D";R+5@+7 n'734?5"c5K3*1@351"W+:"UT-"$'K."B/``V"+1"*39."MBm"#'@@3794+("I+Q"W+:"UFW537?R"I74NJ53"UBM"dJ5."M--LV.""B,-"@4((4'5fR3+7"Q"T-"R3+7*"b"A.,"N4((4'5.
%+#%%/*0012*0%*3%4*#$0
&'()*+,-./-0(1233-4561'5(6+35(!
400*"&!.-?;--%22@5,%$*-&*)*/%01*"#-2%$-5,+*-745-0$%9*(#
!"#$%&'(%)*+$,$-.%%%%!
*"&"%#*5 "c5D'7@+14'5"4*"N+*3)"674@+74(R"'5"+"*3743*"'D"+7149(3*"1&+1":373"6JN(4*&3)"+1"1&3"14@3"'D"1&3"dJ53"M--/";3@'7+5)J@"'D"E5)37*1+5)45? N31:335"#$%#"+5)"1&3"HJ7@+X*";454*17R"'D">537?R."P':3K37"1&3";<E"41*3(D"&+*"5'1"N335"@+)3"6JN(49. $ "^I7+)45?"9'@6+543*"+993(37+13"'K37*3+*"73*'J793*"3Q6('7+14'5Y_"q'73+"P37+()Y";+R"M-Y"M--/"+1"&116eff:::.2'73+&37+().9'.27f $>[qPFcI>f)+1+f&1@(g)47fM--/f-,fM-fM--/-,M---LM.+*6 : #I&3"CSB"+5)"CST"N('92*":373"93714D43)"NR"=+DD53R"#(453"+5)"C**'94+13*"U=#CV"1'"&+K3"+5"3*14@+13)"+K+4(+N(3"73*37K3"'D",.A"S"/.B 174((4'5"9JN49"D331"U19DV."]+3:''"c51375+14'5+("&+*"*4593"*1+13)"1&+1"A.,"S"L.L"19D"'D"1&3"?+*"@+R"N3"9'@@3794+((R"K4+N(3."^]+3:''"a374D43* ;R+5@+7"=+*"n45)Y_"]+3:''"c51375+14'5+(Y"CJ?J*1"MMY"M--L. & ""EFGM.L/"N4((4'5"45"1&3"1&733"?+*"D43()*"45"N('92*"CSB"+5)"CST"+5)"+5'1&37"EFG/TO.MO"@4((4'5"45"(+R45?"+5"J5)37S*3+"6463(453"1'"1+23 1&3"?+*"1'"1&3"*&'73."^]+3:''S537?R"I74NJ53Y"dJ53"BMY"M--L. ( "]+3:''"c51375+14'5+("9+((3)"D'7"135)37*"1'"*JN@41"n7'51S35)"35?4533745?"+5)")3*4?5"Un>>]V"*1J)43*"'5"'DD*&'73"67')J914'5")74((45? 6(+1D'7@*"+5)"1&3"'5*&'73"?+*"137@45+("*'J1&:3*1"'D"qR+J2"%&RJ"NR"C674("+5)"*1+13)"1&+1"9'517+91*":'J()"N3"+:+7)3)"NR"@4)SM--/. F'J1&"q'73+5"PRJ5)+4"P3+KR"c5)J*1743*"+5)"F+@*J5?"P3+KR"c5)J*1743*"+*":3(("+*"n7359&SN+*3)"I39&546"+5)"]'74*">5?4533745? &+K3"+(("N335"35?+?3)"45"1&3"*J7K3R*"&116eff:::.3537?R9J77351.9'@f45)3Q.6&6r4)bMl*1'7R4)bBBB,/ ) "c5"+))414'5"1'"1&3"F&:3"=+*Y"1&3"c5)4+5"'4("9'@6+5R">**+7"&+*"N335"9'5)J9145?"3Q6('7+1'7R")74((45?"45"C7+2+5"F1+13"*4593"]393@N37 M--`Y"D'((':45?"+"739351")4*9'K37R"'D"'4("73*37K3*"45"5'71&375"F411:3"I':5*&46. * "&'()$*+,"(-.*/01)''23*456,7*7,$*#,$67*#,86-518Y"+9":016;"*!0<<7(.Y"c51375+14'5+(">537?R"C?359RY"M--L. + "^;'*9':"&'63*"D'7"+5"J5N4+*3)"174+("'D"FJJ"qR4Y_"c1+7SI+**"UpJ**4+VY"dJ53"MBY"M--/. #, "c1"4*"451373*145?"1'"5'13"1&+1":41&45"CF>C$Y"a4315+@.";+(+R*4+Y"+5)"c5)'53*4+"+73"+(("(+7?3"67')J937*"'D"'4(f?+*"NJ1")'5X1"&+K3 *17'5?"*1+5)+7)*"1&+1"459(J)3"*'94+("+5)"35K47'5@351+("*+D3?J+7)*. ## "^;R+5@+7"*1735?1&35*"#'S'6":41&"D'734?5"9'J51743*"'5"3537?RY_"s45&J+Y"dJ(R"M`Y"M--/ #$ "F33"C6635)4Q"A"D'7")31+4(3)"3Q6(+5+14'5"'D"9+(9J(+14'5*. #% "=0(<7>8*+:','<.*?@@A3*40((",1*!610716',*7,$*B('8C":18*D'(*E"D'(*14@+13*"7J5"+*"&4?&"+*"EFG,--"@4((4'5"+5)")'"5'1"459(J)3"1&3"9'*1"'D"@'K45?"1&'J*+5)*"'D"94K4("*37K+51*"D7'@"1&3"'()"9+641+("'D"p+5?''5. #( "G*B(";",17H)"*I71"3*J5"*D76)0("*'D*GEJ*8:7)"K0C*6,*L.7,<7(Y";3)3945*"F+5*"n7'514373*Y"$'K3@N37"M--`. #) "&116eff:::.&7:.'7?f35f53:*fM--/f-AfT-fNJ7@+S'53SR3+7S+D137S9R9('53S73673**4'5S9'5145J3* #
%"#%%/*0012*0%*3%4*#$0
#F33"C6635)4Q"A"D'7"3Q6(+5+14'5"'D"9+(9J(+14'5*. ">9'5'@4*1"c513((4?3593"E541"U>cEV"3*14@+13)"1&3"=]%"637"9+641+"+1"EFGAT,"637"R3+7"45"M--` $, "&116eff:::.&7:.'7?f35f53:*fM--/f-AfT-fNJ7@+S'53SR3+7S+D137S9R9('53S73673**4'5S9'5145J3* $# "^=+*"+5)"p3?4@3"%73*37K+14'5Y_"H7J93"P+:23Y"+7149(3"45"J5"*#((7M7$$.Y"$'K3@N37"M--A. $$ "F33"!0CC).*7,$*4'<<7,$Y"F&:3"=+*";'K3@351Y"M--O. $% "^BA"F'J1&"q'73+5*"9'5K4913)"'D"3Q6'7145?":3+6'5*"139&"1'";R+5@+7Y_"C**'94+13)"%73**Y"$'K3@N37"B,Y"M--L. $& "^c5)4+Y";R+5@+7"F31"1'"c5973+*3";4(41+7RY">537?R"#'S'637+14'5Y_"c5)4+"]3D3593Y"]393@N37"T-Y"M--OY"+1":::.45)4+S)3D3593.9'@f736'71*SMLLM $' "^C"=7':45?"I+1@+)+:Y_"+7149(3"45"J5"*#((7M7$$.Y";+79&"M--O."HJ7@+X*"8J51+"&+*"+9\J473)"53:":3+6'5*"*R*13@*"D7'@"5J@37'J* '1&37"9'J51743*Y"459(J)45?"pJ**4+Y"F45?+6'73Y"%+24*1+5Y"$'71&"q'73+Y"E27+453"+5)"c*7+3(. !$ ##'J517R"p36'71"'5"%7'?73**"'D"%':37"]3K3('6@351"%(+5*"+5)"I7+5*@4**4'5"c51379'553914'5"%7'8391*Y"='K375@351"'D";R+5@+7Y $'K3@N37"M--`Y"+993**3)"+1"&116effNJ7@+74K37*531:'72.'7?f4@+?3*f*1'743*fNJ7@+3537?Rf"9'J517R736'71.6)D"+5)"&116eff 1'51'.34+.)'3.?'Kf9'J517Rf9'J517Rg3537?Rg)+1+.9D@rD46*bIP $) "&116eff:::.5+14'5@+*137.9'@f73)f?7+6&f353g3(3g9'5g6379+6S3537?RS3(39174941RS9'5*J@614'5S637S9+641+lNg67451+N(3bB $* "n4?J73*"6JN(4*&3)"45"J5"*N"M*O6-51*'D*L.7,<7(Y"n3N7J+7R"M--O. $+ "+,"(-.*!":0(61.*6,*G8673*456,7F*#,$67F*/6)*7,$*B"7:"Y"+"736'71"1'"1&3"$'7:3?4+5";454*17R"'D"n'734?5"CDD+47*Y"C674("M--O. %, "C5+(R*4*"NR"]7."F3+5"IJ753(( %# "=)':26,-*I(""$'<3*G*478"*!10$.*'D*456,7>8*/6)*7,$*P78*#,;"81<",1*6,*=0(<7Y"C7+2+5"<4("[+19&Y"M--`. %$ "^]+3:''"'N8391*"1'";R+5@+7"?+*"67493Y_"P45)J*1+5"I4@3*Y";+R"`Y"M--L. %% "^]+3:''"W+:R37*"a4*41"HJ7@+"1'"]4*9J**"F&:3"=+*"]3+(Y_";+R"`Y"M--L"+1"&116eff:::.477+:+))R.'7?f+7149(3.6&6r+71g4)bLBT, %& "!0CC).*7,$*4'<<7,$Y"F&:3"=+*";'K3@351Y"M--O. %' "F33"=)':26,-*I(""$'<3*G*478"*!10$.*'D*456,7>8*/6)*7,$*P78*#,;"81<",1*6,*=0(<7Y"C7+2+5"<4("[+19&Y"M--`. %( ">Q135*4K3"73*3+79&"'D"1&3*3"1:'"9+*3*"9+5"N3"D'J5)"+1"J'17)*Q",67)*4',16,0"8F>+71&p4?&1*"c51375+14'5+(Y"M--B"+5)"O76$*&781"Y PJ@+5"p4?&1*"n'J5)+14'5"'D";'5(+5)Y"M--/. %) "&116eff?('N+(45K3*1@351:+19&.9'@f:6S9'51351fJ6('+)*fM--`f-Tf6317'9&45+S(31137S'5S*J)+5S+5)SNJ7@+SD7'@S+D(S94'S+5)SD('74)+.6)D %* "^I&3"FR*13@"c@6(')3*e"I&3"B-"['7*1"#'76'7+14'5*"'D"M--`Y_";J(145+14'5+(";'541'7Y"$'K3@N37"M--`"+1 &116eff:::.@J(145+14'5+(@'541'7.'7?f@@M--`fBBM--`f:34**@+5.&1@( %+ "N710(7)*P783*=(6$-6,-*I0")*'(*E'7$H)':2*1'*4)"7,*+,"(-.RF"+"=733563+93"736'71Y"B//T. &, "^[4513745?"F6''5SN4((3)"F+5)64637*"D'J5)"45";R+5@+7Y_"H47)W4D3"c51375+14'5+(Y"n3N7J+7R"BAY"M--`. &# "&116eff:::.39':'7().'7?f1733*f+7149(3*f+7149(3*M.9D@rIc]bMAT 86 #+
!"#$%&'(%)*+$,$-.%%%%$
"[&35"41":+*"D'J5)3)"45"B/OBY"[[n"*1'')"D'7"1&3"^['7()"[4()(4D3"nJ5)._"C*"[[n"3Q6+5)3)"41*":'72"1'"9'5*37K3"1&3"35K47'5@351"+* +":&'(3Y"7+1&37"1&+5"D'9J*45?"'5"*3(3913)"*63943*"45"4*'(+14'5Y"1&3"(3?+("5+@3"N39+@3"^['7()"[4)3"nJ5)"n'7"$+1J73._ &% "&116eff35.:42463)4+.'7?f:424fW4*1g'Dg1&3g=('N+(gM-&& ":::.5+14'5+(?3'?7+6&49.9'@f:4():'7()f67'D4(3*f13773*174+(f4@f4@-BTB.&1@( &' "cN4). &( "C99'7)45?"1'"1&3"^I'6"M,"IJ71(3*"'5"]3+1&"p':Y_"+"(4*1"9'@64(3)"NR"1&3"IJ71(3"#'5*37K+14'5"nJ5)Y"M--T. &) "^=7335"7J(3*"3R3"#&453*3"D47@*"+N7'+)Y_"#&45+"]+4(RY";+R"M/Y"M--/. &$
%%#%%/*0012*0%*3%4*#$0
!"!!"#$$%&#$!#'!(#)*$
!"#$%&'()&'*#+(,$% A%SAN
A)).-(*5(.+$./$%.85"#*)5$A)(*+$N*5(.+)
9!]
93(5()"$!"#34*,$]+(5H$*$4#*)83#4#+5$./$#+#31K$-.+)84:5(.+
EN<E
E"(+*$N*5(.+*,$<#53.,#84$E.3:.3*5(.+
&A?^
&*)$A85".3(5K$./$?+7(*H$^57
MK*5
5"#$.//(-(*,$-833#+-K$./$9834*
MI&A%
M.3#*$&*)$E.3:.3*5(.+
'9!]
.+#$4(,,(.+$9!])_
''EOV
4(,,(.+$-8@(-$/##5$:#3$7*K
'I&S
'K*+4*3$I(,$*+7$&*)$S+5#3:3()#
'I]
'#4.3*+784$./$]+7#3)5*+7(+1
IN&E `(7#)" I(,$*+7$N*583*,$&*)$E.3:.3*5(.+$`(7#)"H$^57 <%E
<3.78-5(.+$%"*3(+1$E.+53*-5
%
%5*5#$<#*-#$*+7$V#2#,.:4#+5$E.8+-(,
5-/
53(,,(.+$-8@(-$/##5
_$'9!]$()$.--*)(.+*,,K$8)#7$*)$*$)5*+7*37$8+(5$./$4#*)83#4#+5$/.3$+*583*,$1*)$*+7$:3.2(7#)$*$-.+2#+(#+5$@*)()$/.3 -.4:*3(+1$5"#$#+#31K$-.+5#+5$./$2*3(.8)$13*7#)$./$+*583*,$1*)$*+7$.5"#3$/8#,)>$I+#$-8@(-$/..5$./$+*583*,$1*)$:3.78-#) *::3.T(4*5#,K$UHZZZ$9!])H$).$UHZZZ$-8@(-$/##5$./$1*)$()$-.4:*3*@,#$5.$U$'9!]>$'9!]$()$.--*)(.+*,,K$#T:3#))#7$*) ''9!]H$;"(-"$()$(+5#+7#7$5.$3#:3#)#+5$*$5".8)*+7$5".8)*+7$9!])>$?+/.34*5(.+$/3.4P$"55:Paa;;;>#+#31K2.35#T>-.4
!"#$%&'(&)'*!%*!+ ?@ABCDE=A?C@ FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF
G
CHIBH?IJ FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF
1
!BCKI=A*,ALAE, FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF %";#$&*)$<3.=#-5 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> !3*+)09834*$I(,$E.33(7.3>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
M W b
ANI*=C@AIOA FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF &#.:.,(5(-*,$%(1+(/(-*+-#$*+7$R#).83-#$V(:,.4*-K >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
P c
DIHIQC!8I@A*RCB*SEB8LT FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF U>$!"#$=8+5*$1#5)$3(-"#3>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> !"#$%&$J"#3#$()$5"#$4.+#K$1.(+1d>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> e>$!"#$=8+5*$@8K)$;#*:.+)>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> [>$<#.:,#$*3#$,#/5$(+$5"#$7*3B >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> !"#$%&$J"#3#$()$5"#$1*)$1.(+1d>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
GG UU Ue U[ UY UW
,C=?LQ*E@BI,A*Q?@UID*AC**I@IB6V*!B?=I, FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF GW !BCKI=A*B?,U, FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF O(+*+-(*,$R()B)>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> %#-83(5K$R()B)>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> E.4:,(-(5K$*+7$Q84*+$R(1"5)$A@8)#) >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> V#)538-5(.+$./$S+2(3.+4#+5*,$Q#*,5"$*+7$9(.7(2#3)(5K>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
GP Uc Uf eZ eX
=C@=QE,?C@ FFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF 13
!"#!$%!&'("#!))"!(*"!"+&,&-( ................................................................ /0 12!3"4-5"#!("*- ........................................................................................... /6 !""#$%&'()*(+,-./01(.2,34567( 8888888888888888888888888888888888888888888888888888888888888888888888888888 !""#$%&'(;*(?2260=51(.,74=4,06@(/5,0A(>,224@,2(888888888888888888888888888888888888 !""#$%&'(9*(C/.(,3(7=/=4,07(/5,0A(>,224@,2 8888888888888888888888888888888888888888888888888888888888 !""#$%&'(:*(+/5>?5/=4,0(,3(A/7(26E60?67(88888888888888888888888888888888888888888888888888888888888888 !""#$%&'(G*(H33I7J,26(@6E65,.-60=(3,2(KJL6(M/7("2,N6>=
9: 9B 9D 9F
7(*(-37, .......................................................................................................... 86
!"#$#%& $'(
!"#$%&'(%)*+$,$-.%%%!
"#%%/*0012*0%*3%4*#$0
!""# $$$%&'$"%()*# +() ,()"# -"./01"-# ,/2
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
%)*$)!*+
!"#$%&'(%)*+,$-.
/*'0(123*4'%567%8+**69+*
!"#$#
!"#$#
Q09%70B#<02#8&;@2/92#/"#9.&#D5'#0"8#D5U#LB@4M2#/"#9.&#=0E @F#=&"<0B#@FF#9.&#N&29&7"#4@029#@F#=%7>0#0"8#0#"09%70B <02#;/;&B/"&#F7@>#_E0%M#6.E%#/"#D70M0"#?909 @#Q0""/"< /"#2@%9.N&29&7"#-./"0#c2&&#>0;dJ
D"#@/B##;/;&B/"&#N/BB#L&#L%/B9#;070BB&B#9@#9.&#"09%70B#<02 ;/;&B/"/@22#9.&#.&079#@F#=%7>0#F7@>#9.&#;@79#@F _E0%M#6.E%#/"#D70M0"#?909&)#9.7@%<.#C0
!"%&! !
!
!
400"+-,%!,(/"#F@7#"09%70B#<02#&T97049/@"#5 `0&N@@#;B0"2#9@#;7@8%4&#H0#;B09&0%K#@F#V++ >/BB/@"#4%L/4#F&&9#;&7#80E#F@7#%;#9@#U+#E&072! !FF2.@7/<2#N/BB#;%>;#9.&#<02#9.7@%<. #&'%,51*%,!$($%"#9.09#N/BB#&"9&7#B0"8#2@%9.N&29 @F#9. @N"#_E0%M#6.E%#@"#e0>7&&#a2B0"8) N.&7&#@"&#-&"+-,%!/1"!*%,2(&1.#/2#;B0""&8#9@ L&#L%/B9J D#*)[++#M>#&1*#,1.!/1"!$($%.(&%)#N/9.#0" 0""%0B#970"2;@7909/@"#40;04/9E#@F#'*#L/BB/@"#4%L/4 >&9&72)#N/BB#970"2;@79#9.&#<02#9@#Q0""/"<#/" 2@%9.N&29&7"#-./"0
"#%%/*0012*0%*3%4*#$0
!"%& !
! !
-7%8&#@/B#%"B@08/"<#'%%$!"%1!$-,*!1&' *%,2(&1.#09#C080E#a2B0"8#N/9.#0#U++)+++#9@" 8&08N&/<.9#40;04/9E 4(.!"*-,1/%!013(.(*(%"#9.09#/"4B%8�"#@/B#90"M N/9.#29@70<(04/9E#@F#(++)+++#4%L/4#>&9&72 ')'++#M>#-(.!$($%.(&%#9@#_%">/"<#N/9.#0 ;@22/LB&#&T9&"2/@"#9@#-.@"/BB/@"#9@"2#@7 RR*)+++#L077&B2#;&7#80E
!"#
%$!"#$%&'(%)*+$,$-.%%%$
&'(#)'*#+,-+.#/+#0#*&1
!"""&'()(*+ B1$C(( D,&$/,1&+(,1*.2+3,2 1.#/('0%&+(, 251/+,3.%(,&/1%& C+&5.&5$.EF1,)1/ G+*.1,'.H12 !,&$/#/+2$ IEGH!J.&( $"#*(/$K.#/('0%$K 1,'.)1/<$& 0,'$/C1&$/. 312 /$2$/=$2. (--. &5$ 7/1<1,. %(12&?
!"",&-./(.01 B1$C(( 1,,(0,%$2.1 LC(/*'.%*122 %())$/%+1* 2%1*$.312 '$#(2+&M.+,.&5$ (--25(/$.789 ;*(%
!""%&'()(*+ 65$.789.1,'.78: ;*(%<2.1/$ !"",4!""5 %$/&+-+$'.&(.51=$ G/+3+,1*.#*1,2.-(/ 1,.$2&+)1&$' &5$.21*$.1,' 1=1+*1;*$./$2$/=$ &/1,2#(/&.(-.&5$.312 (-.>[email protected]?9 &(.D,'+1.=+1.#+#$*+,$ &/+**+(,.%0;+% -1+*.&(.)1&$/+1*+R$ -$$&?! !""6& -(/3 1-&$/. F$1/2. (4OP4.2+3,2 ,$3(&+1&+(,2.1,' 1,.EGQ.C+&5 '$&1+*$'.#/(S$%& T0/)1U2 #*1,,+,3? E+,+2&/F.(!,$/3F.&( %(,2&/0%&K (#$/1&$.1,' )1,13$.&5$ LEF1,)1/8 45+,1.G+* !""2& -(/3 45+,1.O1&+(,1* P+#$*+,$KM.1, 0,*(1'+,3.#(/&K P$&/(*$0) &$/)+,1*K.1,' 4(/#(/1&+(, I4OP4J.2+3,2 2&(/13$.1,' &/1,2#(/&1&+(, 1,.EGQ.-(/ -1%+*+&+$2? &5$.#0/%512$ 1,' &/1,2#(/&1&+(, (-.,1&0/1*.312 -/().&5$.789 1,'.78:.;*(%<2?
%#%%/*0012*0%*3%4*#$0
!""6& 738+ 4(,2&/0%&+(, (-.&5$ #+#$*+,$2 C+**.;$3+,
!"#" !"#$%&$' %()#*$&+(, (-.%/0'$.(+* #(/&.1,' 2&(/13$ -1%+*+&+$2
!"#$ !"#$%&$' %())$,%$)$,& (-.,1&0/1* 312. &/1,2-$/ &(.45+,1
!",
!",
6+%!%7*,13*-," 8+4:'0; `0&N@@#a"9&7"09/@"0B)#?@%9.#_@7&0 !/B#0"8#Q09%70B#A02#-@7;@709/@")#a"8/0 CE0">07#!/B#0"8#A02#O"9&7;7/2&)#=%7>0 _@7&0"#A02#-@7;@709/@")#?@%9.#_@7&0 A02#D%9.@7/9E#@F#a"8/0#f/>/9&8)#a"8/0
-@"297%49/@")#8&2/<")#0"8#@;&709/@"#@F#@/B#;/;&B/"&#/" =%7>0g#-Q6-h -@"297%49/@")#8&2/<")#0"8#@;&709/@"#@F#@9.&7#@/B#;7@I&49 4@>;@"&"92g#-Q6-h -@"297%49/@"#@F#@/B#;/;&B/"&#/"#-./"0g#&T;&49&8#9@#L& 6&97@-./"0#L%9#"@9#4@"F/7>&8
<%+=%("'*$( V'W '\W 'VW [JVW [JVW
6+%!8#9%,!:%7.#"()%!,(/+*"; -./"0#Q09/@"0B#6&97@B&%>#-@>;0"E)#-@>;0"E#2.@%B8#L& -@7;@709/@" 6+%!'("*,(8#*-,!:(&!<+(&1; 6&97@-./"0
",!+(23" -@292#9@!8&G&B@;#9.&#<02#F/&B82#0"8#<&9#9.&#<02#9@#2.@7&g =>?@AB@!8(..(-&J" O29/>09&8#4@"297%49/@"#4@292#@F#9.&#"09%70B#<02#;/;&B/"&g =>?CDCAEF!8(..(-& D""%0B#970"2/9#F&&g#S?Y#'V+#>/BB/@"#;&7#E&07#F@7#U+#E&072 F@7#0#9@90B#@F#=>?GAF!8(..(-&# O29/>09&8#7&G&"%&2#F7@>#9.B&#@F#9.&#"09%70B#<02g#=>? HEAH!8(..(-&Jh#c2&�;&"8/T#F@7#&T;B0"09/@"#@F#40B4%B09/@"2d !C99'7)45?"1'"+"*+(3*"67493"'D"EFGA"637";HIE.""F'@3"*'J793* &+K3"736'713)"1&3"*+(3*"67493"+1"EFGL.LM":&49&":'J()"N745?"1&3 1'1+("73K35J3"1'"EF"G,O"N4((4'5.
",!+(23" O29/>09&8#4@"297%49/@"#4@292#F@7#@/B#;/;&B/"&g#=>?CAF!8(..(-& !"#$%#"&'()*"+",-./0"*1+23"45"1&3"6463(453*"67'8391":41&";<=> &'()45?"1&3"73@+4545?"A/.B0 !"#$%&'(%)*+$,$-.%%%&
!"#$%&'( )'*'+) !"#$% &'(% )*+,$-.% !.'./(
9@#V++)+++#_E09#cS?YRV+d#I%29#9@#B&0G .&#;@792J#Q0G0B @FF/4&72#.0G&#L&&"#4@>>0"8&&7/"<#B@40B#L@092)#7&b%/7/"< B@40B#L@09>&"#9@#0B2@#;7@G/8&#;&97@BJ#i0/B%7 @#4@>;BE >676.'*;%60%:7'-$ N/9.#7&297/49/@"2#@7#8&>0"82#B&082#9@#077&29)#L&09/"<2)#@7 X.7&&#L0990B/@"2#cfa=#VR*#0"8#VRU0"8#a=#URd#07&#L02&8 L%2/"&22#4@BB0;2&J#C/B/907E#7&297/49/@"2#07(%2/"<#.0782./; N/9./"#0#F&N#M/B@>&97&2#@F#9.&#_E0%M#6.E%#a"/9/0B#A02 X&7>/"0BJ#D#"0G0B#L02 .09#/"4B%8&2#"/"%L5L0990B/@"2#/2 047@22#9.&#F/2./"<#/"8%297E)#%;@"#N./4.#9.&#D70M0"&2& /"#;B04&#@"#9.&#&029&7"#2/8&#@F#e0>7&&#a2B0"8Z#;097@B2#F7@> ;&@;B&#.0G&#B@"<#7&B/&8#F@7#9.&/7#;7/>07E#4@>>&74/0B 9.&#L02&#>@"/9@7#7&297/49/@"#^@"&2#07@%"8#9.&#@FF2.@7/<2J &"9&7;7/2�"8#N./4.#;7@G/8&2#0#47/9/40B#F@@8#2@%74&J
%&'(') *+,-'') ./(,0/+(1'/+2
?$(.*6-.6+0%@+0$%$(.'A76("$9B%=6("60C%6093(.*;%(3==$*( D#7&297/49/@"#^@"&#.02#L&&"#&290LB/2.&8#N./4.#;7@./L/92 F/2.&72#F7@>#4@>/"<#N/9./"#0#V+#M/B@>&97&2#708/%2#@F#9.& ?.N&2&7G&J#i/2.&72#>%29#0B2@#L7/L&#>/B/907E#@FF/4/0B2#%;
'#%%/*0012*0%*3%4*#$0
I&3"#&453*3"$+5"P+4"M"3Q6('7+1'7R"74?"45"1&3"CST"H('92
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f@40B#L%2/"&22>0"
DI"$0%'3."+*6.6$(%C+%.+%."$%+==("+*$%9*67760C%(6.$(B%."$; $E:$-.%7+-'7%A+'.(%.+%-'**;%."$4%."$*$H%>+(.%+=%."$ 7+-'7%=6("60C%A+'.(%0$$9%.+%A*6A$%."$%'3."+*6.6$(%'. 7$'(.%MNNBNNN%J;'.%$G$*;%.64$%."$;%7$'G$%:+*.%A3.%6= ."$;%:*+G69$%."6(%($*G6-$%."$0%."$;%:';%7$((H%O=%."$%A+'. +#0$*%*$=3($(%.+%.'K$%."$%4676.'*;%+*%P!QR%+3.%.+%($'B ."$;%#677%76K$7;%A$%'**$(.$9%+*%."$6*%A3(60$((%#677%A$ (.+::$9HL%P#f@40B#X708&7
0*'1(23/*4'% 5+**67+*% !.'./( U459(J)45?")J+("'4("+5)"?+*"6463(453*V
C"D4*&45?"N'+1"+667'+9&3)"NR"+"$+K+("6+17'("'DD"1&3"C7+2+5"9'+*1
>676.'*;%60%:7'-$ -%77&"9BE#F@79E5F@%7#/"F0"97E#0"8#B/<.9#/"F0"97E#L0990B/@"2#07& ;@2/9/@"&8#0B@"<#9.&#;/;&B/"@77/8@7J#O04.#L0990B/@"#/2 9.@%<.9#9@#.0G&#*V+5U++#2@B8/&72)#N./4.#>&0"2#9.09#09#9./2 9/> .&7&#%;#9@#'U)*++#2@B8/&72#;@2/9/@"&8#0B@"<#9.& 7@%9&J#D#"0G0B#L02 .09#/"4B%8&2#"/"%L5L0990B/@"2#/" ;B04&#@"#9.&#&029&7"#2/8&#@F#e0>7&&#a2B0"8#N/BB#>@"/9@7#9.& 8&&;#2&0#;@79#0"8#@/B#9&7>/"0BJ
D2/0#l@7B8#/2#2&9#9@#4@"297%49#9.&&;#2&0#;@79#@" C080E#a2B0"8)#02#N&BB#02#7@082#0"8#@9.&7#7&B09&8#/"F705 297%49%7&#;7@I&492#/"#D70M0"#?909&J#D2/0#l@7B8#N02 F@%"8&8#LE#87%<5B@78#f@#j2/"<#j0"#0"8#/2#>0"0<&8#LE ./2#2@"#?9&;.&"#f0N)#N.@#.02#L&&"#7&F%2&8#&"97E#9@#9.& S"/9&8#?909&2#@"#2%2;/4/@"#@F#"074@9/42#970FF/4M/"<J
aAO#N/BB#7&;@79&8BE#4@"297%49#7@082#0"8#@9.&7#7&B09&8 /"F705297%49%7&#;7@I&492#0B@"<#9.&#;/;&B/"@%9&J#aAO#-@ !3A1-+0.*'-.60C%=+*%-+0(.*3-.6+0%'-.6G6.6$( f98#/2#0#?/"<0;@7&57&;0"E#@N"&8#0"8 X.&#C!S#2/<"&8#/"#$%"&#*++,#8&2/<"09&8#-Q6>0"0<&8#LE#9N@#2@"2#@F#=%7>012#;@N&7F%B#C/"/29&7#@F 7&2;@"2/LB&#F@7#9.@"297%49/@")#8&2/<")#0"8#@;&709/@"#@F a"8%297E5'#D%"<#X.0%"<J#D%"<#X.0%"<#/2#4@"2/8&7&8#0 @/B#970"2F&7#9.7@%<.#=%7>0#9@#-./"0J#a"#088/9/@"#9@ .078B/"&7#N/9./"#9.&�"8#/2#L&B/&G&8#9@#.0G&#;B0E&8 -Q6-12#@N"#4@"297%49/@"#049/G/9/&2)#/"9&7"09/@"0B#0"8 0#>0I@7#7@B&#/"#9.በM8@N"#@"#>@"M2#/"#*++\J##aAO#/2 =%7>&2@>;0"/&2#07&#GE/"<#F@7#2%L54@"970492#9@ %"8&7#O%7@;&0"#S"/@"#20"49/@"2#0"8#D%"<#X.0%"<#0"8#./2 4@"297%49#022@4/09&8#/"F70297%49%7&J#X.&2&#/"4B%8&#D2/0 l@7B8#0"8#aAO#@F#=%7>0#0"8#$0./"8#67@I&49#f98J#@F#a"8/0J F0>/BE#07&#L0""&8#F7@>#970G&BB/"<#9@#9.&#OS#0"8#D%2970B/0J !"#$%&'(%)*+$,$-.%%%(
#,*-(%"#*.# !"#$% D2#-./"012#A`6#<7@N2#0"#0G&70<&#@F#'+#;&74&"9#0""%0BBE) X.琍&0#L&9N&&"#a"8/0#0"8#-./"0) /92#b%&29#F@7#@/B)#<02)#0"8#@9.&7#"09%70B#7&2@%74&2#07@%"8 9.&#
)#%%/*0012*0%*3%4*#$0
!"#$%&'(")#*+,-*./"",0/"*#%*.1,$#2%*3$4"56*748(",96 =%7>012#7&2@%74/;B@>04E#.02#7&0;&8#&FF&49/G& 7&2%B92#N/9.#-./"0J#a"#$0"%07E#*++\)#-./"0#G&9@&8#0 870F9#SQ#?&4%7/9E#-@%"4/B#e&2@B%9/@"#40BB/"<#@" HCE0">0712#A@G&7">&"9#9@#4&02&#>/B/907E#09904M2 0<0/"29#4/G/B/0"2#/"#&9."/4#>/"@7/9E#7&@4709/4#970"2/9/@"JK#$%29#9.7&PE2#B09&7) 0#67@8%49/@"#?.07/"<#-@"97049#N02#2/<"&8#L&9N&&" -./"0#Q09/@"0B#6&97@B&%>#-@>;0"E#c-Q6-d#0"8 =%7>012#I%"90)#9.&#?909&04�"8#`&G&B@;>&"9 -@%"4/B)#F@7#&T;B@709/@")#87/BB/"<#0"8#;7@8%49/@" 7/<.92#/"#9.7&X/9/@"0B#LB@4M2J#$%29#>@"9.2#B09&7) 9.&#I%"90#0""@%"4&8#9.09#/9#N02#2&BB/"<#9.&#&"9/7&#<02 F/"82#/"#LB@4M2#D5'#0"8#D5U#c9.&#?.N&#<02d#9@ -./"0#F@7#0#L&B@N#>07M&9#;7/4&J#X./2#40%2&8#9.& 4@"2@79/%>#@F#a"8/0"#0"8#?@%9.#_@7&0"#4@>;0"/&2 8&G&B@;/"<#9.&#<02#F/&B82#9@#;7@9&29J#a"8/0"#>&8/0 7&;@792#b%@9&8#a"8/0"#4@>;0"E#@FF/4/0B2#02#%".0;;E 0L@%9#9.&#-./"&2B�"8#7&4@"2/8&7/"<#0"E#F%79.&7 /"G&29>&"92#/"#=%7>012#<02J
&$'#% a"8/0#.08#4@"2/8&7&8#/92&BF#9.&#;7/>07E#F/"0B ;%74.02&7#@F#9.&#?.N&#<02#0"8#.08#8&G&B@;&8#;B0"2#F@7#G07/@%2#970"2;@79#7@%9&2)#/"4B%8/"<#/"G&29>&"92#/"#2%7G&E/"< ;/;&B/"�"8#2./;;/"<#@;9/@"2J#DF9&7#E&072#@F#7&2&074.#0"8#"&<@9/09/@"2)#.@N&G&7)#9.&E#N&7%88&"BE#4%9#@%9#@F#9.& &b%09/@"#N.&"#9.&#<02#N02#2@B8#9@#9.&#-./"&2&J !"#$%&'(%)*+$,$-.%%%*
_&&"#9@#7&<0/"#B@29#<7@%"8)#a"8/0#8/2;094.&8#/92#!/B C/"/29&7#9@#2&0B#"&N#4@"970492#/"#088/9/@"0B#&T;B@709/@" LB@4M2#/"#?&;9&>L&7#*++\J#X.&#G/2/9#40>&#/"#9.&#>/829#@F %";7&4&8&"9&8#0"8#;&04&F%B#8&>@"29709/@"2#;7@9&29/"<#9.& ./<.#;7/4&#@F#F%&B#/"#=%7>0J#a"8/012#C/"/29&7#;7@>/2&8#0" 088/9/@"0B#S?Y'V+#>/BB/@"#/"#/"G&29>&"9#9@#9.&#I%"90 8&2;/9�#G/@B&"9#4704M8@N"#@"#9.&#>@"M2#B&08/"<#9.& 8&>@"29709/@"2#c2&&#?@4/0B#S"7&29#2&49/@"dJ =&E@"8#@/B#0"8#<02)#a"8/0#.02#/"G&29&8#>/BB/@"2#@F#8@BB072 /"9@#9.&G&B@;>&"9#@F#9.&#;@79#/"#?/99N&)#9.&#_0B080" 970"2/9#970"2;@79#>%B9/5>@80B#;7@I&49)#0"8#7@082#B/"M/"<#9.& 9N@#4@%"97/&2J#a"8/0#.02#>08&#>%B9/5>/BB/@"#8@BB07#N&0;@"2 20B&2#9@#=%7>0#02#N&BBJ5#X.&2�BB#;079#0"8#;074&B#@F a"8/012#Hf@@M#O029K#;@B/4E)#@"琍&<E#F@7#7&8%4/"<#9.& /"FB%&"4&#@F#-./"0#@"#/92#"&/<.L@7#0"8#/"#9.&&"9#/"9&7&292#0"8#<&@;@B/9/40B#4@%"9&75 L0B0"4&)#a"8/0#/2#2&&M/"<#9@#<07"&7#=%7>&2/290"4&#/" 4704M/"<#8@N"#@"#07>&8#2&;0709/292#/"#"@79.&029#a"8/0J
()**#% e%22/0#0B2@#.02#7&2@%74&#/"9&7&292#/"#=%7>0)#/"4B%8/"< ;7@8%49/@"#4@"970492#/"#9.7&&#@/B#0"8#<02#LB@4M2#0"8#>/"/"< /"9&7&292J#e%22/0#.02#2@B8#07>2#0"8#>/B/907E#&b%/;>&"9#9@ 9.&#I%"90#0"8#.02#0""@%"4&8#;B0"2#9@#L%/B8#0#"%4B&07 7&049@7#/"#9.@%"97EJ#Q@9#2%7;7/2/"
+,-+. X.0/B0"8)#9.%77&"9#D?ODQ#4.0/7)#7&B/&2#@"#"09%70B#<02 F7@>#=%7>0#F@7#9N&"9E#;&74&"9#@F#/92#&B&497/4/9E#2%;;BE#0"8 /"#*++[#N02#0#B&08/"<#/"G&29@7#/"#=%7>0J#?/"<0;@7&#/2#0B2@ 0#B&08#/"G&29@7#/"#=%7>0)#0"8#?/"<0;@7&0")#C0B0E2/0") 0"8#3/&9"0>&2@>;0"/&2#.0GĢM&2#/"#@/B#0"8#<02 &T;B@709/@"#LB@4M2#/"#=%7>0J89#?&G&70B#=%7>&2& L%2/"&22&2#7%"#LE#9E4@@"2#0B/<"&8#N/9.#9@;#>/B/907E <&"&70B2#07�B2@#7&;07&8#9@#*++\ /"#>%9&8#47/9/4/2>#@F#=%7>012#I%"90#F7@>#9.&0"8J6#X. N@#4@%"97/&2#07&#&"<0<&8#/"#0
!+#%%/*0012*0%*3%4*#$0
&*)*/%0%1*"#-2%$-3'$14(! e&2@%74/;B@>04E#.02# />&)#9.&G&"%&2#<&"&709&8#LE#9.B&#@F#"09%70B#7&2@%74&2)#"09%70B#<02#/" ;079/4%B07)#.02#0BB@N&8#9.&#I%"90#9@#2%290/"#/92#>022/G>E)#;%74.02&#/"47&02/"
89%0"$%,/1.'%:$.(%*6-"$* X.B&#@F#"09%70B#<02#/2#F07#0"8#0N0E#9.&#B07<&29#2/"
L-!6,1&"$1,%&39M e&G&"%&2#F7@>#9.&#@/B#0"8#<02#2&49@7#.0G&#"@ /"8&;&"8&"9#@G&72/<.9#0"8#07&4@78&8#/"#=%7>012 ;%LB/4#044@%"92#/"#ME09#09#9.&#@FF/4/0B#&T4.0"<˅& @F#(#ME09#9@#S?Y'#N./B .&#>07M&9#G0B%&#@F#9.& ME09#290"82#09#0;;7@T/>09&BE#')*++#ME09#9@#S?Y'J X./2#>022/G/247&;0"4E#>&0"2#9.09#9.&#>0I@7/9E#@F <02#7&G&"%&2#07&#"@9#7&4@78&8#/"#=%7>012#@FF/4/0B L%8<&9)#B&0G/"<#9.&>#0G0/B0LB&#F@7#8/247&9/@"07E 2;&"8/"<#0"8#>0M/"<#/9#/>;@22/LB @#9704&#.@N#9.& >0I@7/9E#@F#=%7>012#<02#&07"/"<2#07&#L&/"<#2;&"9J)8: X./2#/2#@"&02@"#X70"2;07&"4E#a"9&7"09/@"0B 70"M&8#=%7>0#9.&4@"85>@29#4@77%;9 <@G&7">&"9#/"#9.&#N@7B8#/"#*++[J
/&$012%$3%4056)43%7809":4:0%4:04%9":40')3;0<:$:4%=*0>":$0#90?@3:*09@09":0:?@$@32A0B@>0?%$09":20*@ 3#*3%$%<:09":0:?@$@320%$'04:%?"09"#*0*9%<:0>":$09":0?@)$9420"%*0*@03%$20$%9)4%=04:*@)4?:*CD #5#f&&#_%0"#]&N)#F@%"8/"<#67/>&#C/"/29&7#@F#?/"<0;@7& !"#$%&'(%)*+$,$-.%%%!!
"#$%$&'(&)#$&*+,$-&.+',.! For the People
For the Regime
Money government spends on health in 2007: $ 0.7 per person per year14
Revenues Generated by Oil and Gas in 2007: Estimated $150 million monthly15
Amount government spent on HIV/AIDS in 2008: $200,00016
Amount government spent on building new capital as estimated by the International Monetary Fund: $122-244 million17 Estimated value of the gifts at the wedding of Senior General Than Shwe’s daughter: $50 million
Average salary of government teacher in Burma in 2009: $30 per month
Estimated annual revenue from sale of Shwe gas deposit: $970 million18
Average income in Burma in 2008 $1.2 per day19
Foreign reserves in 2008: $3.5 Billion20
D/"$*$%6(%0+.%$0+3C"%4$96-60$B%0+.%$0+3C"%9+-.+*(%'09%0+.%$0+3C"%"+(:6.'7(H%/"$*$%'*$%0+.%$0+3C"%(-"++7(B%0+. $0+3C"%.$'-"$*(B%'09%0+.%$0+3C"%(3::+*.%=+*%(.39$0.(H%O0(.$'9%."$;%'*$%3(60C%."$%C'(%4+0$;%.+%A3679%."$6*%0$# -':6.'7%-6.;%ST';:;69'#U%'09%.+%A3;%#$':+0(H%R%C+G$*04$0.%("+379%A3;%#$':+0(%.+%:*+.$-.%."$%-+30.*;%=*+4 9'0C$*H%23.%60%23*4'%."$%C+G$*04$0.%6(%3(60C%#$':+0(%=+*%K67760C%6.(%+#0%:$+:7$H%O=%."$%-+4:'06$(%-+0.603$%."6( :*+,$-.B%."$;%#677%96*$-.7;%(3::+*.%."$%4676.'*;%*$C64$H%/"$*$%#677%A$%0+%:+(6.6G$%64:'-.%=+*%."$%:$+:7$%+=%23*4'HL 1%S#X%"#l/")#&B&49&8#/"#',,+#02#0#C&>L&7#@F#607B/0>&"9#%"8&7#9.&#D70M0"#f&0<%&#F@7#`&>@4704E#6079E !"#%%/*0012*0%*3%4*#$0
;9%0"$%,/1.'%+1( X.&#I%"90#.02#0#;029#9704M#7&4@78#@F#%2/"<#7&G&"%&2#F7@> 9.B&#@F#"09%70B#<02#9@#;%74.02&#N&0;@"2)#>0M/"<#9.& 20B&#@F#9.&#?.N&#A02#0BB#9.&#>@7@"4&7"/"<#F@7#9.& ;&@;B&#@F#=%7>0J#a"8&&8)#4@>;0"/&2#0"8#<@G&7">&"92 /"G@BG&8#/"#9.&#?.N&#A02#67@I&49#.0G�B7&08E#L&&" 2&BB/"<#07>2#9@#=%7>0J E#4:?90=#$F*0;:9>::$0<%*04:G:$):*0%$'03#=#9%42 :HI%$*#@$ X.&#B/"M#L&9N&&"#<02#7&G&"%�"8#07>2#;%74.02&2#/2#4B&07J X.&&#.02#L&&"#@"#0"#044&B&709&8#07>25L%E/"<#2;7&& 2/"4&#*++')#7@%<.BE#N.&"#/9#7&4&/G&8#9.&#F/729#<02#7&G&"%&2 F7@>#9.&#]080"0#;/;&B/"&J!8#OT0>;B&2#@F#9./2#/"4B%8 .& ;%74.02&#@F#.&B/4@;9&72#F7@>#0#6@B/2.#4@>;0"E#0F9&7 7&4&/G/"<#0#L@"%2#@F#S?#Y'V#>/BB/@"#F7@>#X@90B)#9.&#i7&"4. @;&709@7#@F#9.&#]080"0k]&90<%"#<02#;/;&B/"&)#/" *++'J#D#6@B/2.#8/;B@>09#N02#b%@9&8#02#20E/"< 9.09#H9.&#=%7>&2&#;0/8#%2#N/9.#X!XDf >@"&EJK#a"#9.09#20>&#E&07)#9.&#I%"90#7&4&/G&8 S?#Y'++#>/BB/@"#F7@>#9.ଢ଼&5@N"&8 6&97@B&%>#D%9.@7/9E#@F#X.0/B0"8)#9.&#;%74.02&7 @F#9.&#]080"0k]&90<%"#<02#0"8#9.&"#/>>&8/09&BE ;%74.02&8#'+#C/A5*,#F/<.9&7#I&92#09#9.&#;7/4&#@F S?#Y'R+#>/BB/@")#%2/"<#S?#YR+#>/BB/@"#F@7#0 8@N"#;0E>&"9#@"#9.&#;B0"&2J!!#D2#9.দ>LB& F@7#=%7>012#<02#.&092#%;)#20B&2#@F#>/B/907E &b%/;>&"9#9@#9.&#I%"90#.0G�B2@#/"47&02&8J
&==:<%=0>:%I@$*0':%=*0;20,@)9"0J@4:%$0?@3I%$#:* DF9&7#2&4%7/"<#9.&#?.N&#/"G&29>&"9#/"#*+++)#0 4@"
!"#$%&'(%)*+$,$-.%%%!$ !"#$%&'()#*+%,-(.&(/0,1#(.22"3#2-().&#&*"4 5-(6%0+7(8%,"#&(*%1$#&."'
K@G:4$3:$9*0#$G@=G:'0#$0,">:0K%*0L4@M:?90*:==0%43* a"8/0#.02#&"<0<&8#/"#07>2#8&0B2#N/9.#=%7>012#I%"90) /"4B%8/"<#/"47&02&8#20B&2#@F#F/&B8#<%"2)#>@79072) 2%7G&/BB0"4&#&b%/;>&"9)#0/7470F92)#90"M2)#0/758&F&"4&#<%"2) 0"8#@9.&7#&b%/;>&"9J#a"8/012#D/7#C072.0B#?#6#XE0%B9/5>/BB/@"#8@BB07#20B&#@F#>/B/907E#.078N07 @ =%7>012#7&%7/"<#0#G/2/9#/"#Q@G&>L&7#*++(J#X.& ;04M0<&#/"4B%8&8#.&B/4@;9&72)#9&4."/40B#%;<708&2#@F =%7>012#e%22/0"#0"8#-./"&2&5>08&#F/<.9&7#;B0"&2)#0"8 70807J!"#=%7>012#;7/"4/;0B#07>2#2%;;B/&7)#.@N&G&7)#/2 -./"0J!#
X.&#;%74.02&#@F#N&0;@"2#LE#9.&#I%"90#/2#;079/4%B07BE "@90LB&#L&40%2&#=%7>0#.02#"@#8&4B07&8#&T9&7"0B#&"&>EJ !"&#&B&49&8#>&>L&7#@F#;07B/0>&"9#F7@>#D70M0"#?909& 0;9BE#@L2&7G&8g
!"#!$%&'()*')+!,-%./0!1.2!3'45%),!+% 5(%+'6+!+-'!6%.)+(2!7(%*!04)$'(8!9.+!:) 9.(*4! +-'! $%&'()*')+! :,! .,:)$! 3'45%),! 7%( ;://:)$! :+,! %3)! 5'%5/'8<
HJ7@+X*"$+KR"+1"1&3"6'71"45"F411:3
!%#%%/*0012*0%*3%4*#$0
?9%)$+>@$%'*$%@$A.%61%."$%7'*B l./B .&&#&T;@792#G0B%0LB&#&"&7<E 7&2@%74&2#9@#"&/<.L@%7/"<#4@%"97/&2) @78/"07E#4/9/^&"2#7&4&/G&#"&/9.&7#&B&497/4/9E "@7#<02J#DB9.@%<.#=%7>0#.02#2@>&#@F#9.& B07<&29#7&2&7G&2#@F#"09%70B#<02#/" ?@%9.&029#D2/0)#9.@%"97E#F04&2#4.7@"/4 &"&7<E#2.@790<&2J#a"#B09&#*++[#9. @90B /"290BB&8#40;04/9E#@F#&B&497/4#;@N&7#/" =%7>0#N02#')\',#Cl)#4@>;07&8#9@ "&07BE#U+)+++#Cl#/"#"&/<.L@%7/"< X.0/B0"8J!$#X.&#;&7#40;/90#&B&497/4/9E 4@"2%>;9/@"#/"#=%7>0#/2#B&22#9.0"#VW 9.09#@F#"&/<.L@%7/"<#X.0/B0"8#0"8 -./"0J!5#D#290LB%;;BE#@F#;@N&7#/2#"@9 &G&"#<%070"9&&8#/"#9.&#B07<&29#4/9E#@F e0"<@@"J#C@29#L%2/"&22&2#07&#F@74&8#9@ ;%74.02&#B07<�>@%"92#@F#8/&2&B#9@#F%&B <&"&709@72#L&40%2&#@F#9.&#B04M#@F#290LB& &B&497/4/9E#2%;;BEJ D70M0"#?909&)#9.@%74&#@F#9.&#?.N& A02)#/2#"@9#4@""&49&8#9@#9.&#"09/@"0B #&4()735"45"C7+2+5"F1+13"17R"1'")'"1&347"*1J)43*"NR"9+5)(3"(4?&1 ;@N&7#<7/8#0"8#&B&497/4/9E#/2#&T97&>&BE 24074&J#!G&7#,+W#@F#;&@;B&#/"#D70M0"#?909&#%2("8B&2#F@7#B/<.9#0"8#F/7&N@@8#02#9.&/7#;7/>07E#2@%74&#@F#4@@M/"<#F%&B E&9#0BB#@F#?.N&#A02#N/BB#L&#;/;&8#9@#-./"0J!6
!"#$%&'(%)*+$,$-.%%%!&
!"#$%&'()*+($",($-./'&0+($%+&$123
"#$%$&'(&)#$&./(&.+',.!
!"#$-./'&0+( !"#$%&'()*+(
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
5%(!4/-'"$*5#-/!"6*&-#%--*"*$78-0$!(*5 D#2&7/&2#@F#;7@9&292#9.09 L&<0"#/"#D%<%29#*++\#N&7& 2;07M&8#LE#9.&#>/B/907E#I%"901 2#8/7&49/G @#7&>@G&#F%&B 2%L2/8/&2#N./4.#40%2&8#9.& ;7/4&#@F#8/&2&B#0"8#;&97@B#9@ 2%88&"BE#7/2#>%4.#02 ((W)#0"8#9.&#;7/4&#@F 4@>;7&22&8#"09%70B#<02#F@7 L%2&2#9@#/"47&02&#F/G&F@B8#/" B&22#9.0"#0#N&&MJ#`0/BE 4@>>%9&72#F@%"8#9.09#L%2 F07&2#.08#8@%LB&8#@G&7"/<.9J X.&#;7@9&292#2N&BB&8#9@ /"4B%8&8#9&"2#@F#9.@%20"82 0"8#N&7&#B&8#LE#./<.BE 7&G&7&8#=%88./29#>@"M2J X.&#N@7B8#N02#2.@4M&8 N.&"#0#G/@B&"9#4704M8@N" @"#9.&#;&04&F%B 8&>@"29709/@"2#L&<0"#@" ?&;9&>L&7#*(#0"8#0#$0;0"&2&#;.@9@I@%7"0B/29#N02#40%<.9#@"#F/B>#L&/"<#2.@9#09#;@/"95LB0"M#70"<&#@"#9.ĩ&&9J#l./B& 9.&#@FF/4/0B#8&09.#9@BB#7&>0/"2#09#'U)#9.&#SQ#j%>0"#e/<.92#-@%"4/B12#?;&4/0B#e0;;&%9&7#.02#20/8#9.09#/"8&;&"8&"9 2@%74&2#7&;@79&8#U+#9@#R+#>@"M2#0"8#V+#9@#\+#4/G/B/0"2#M/BB&8Z#9.1%0B#"%>L&7#@F#8&09.2#>0E#"&G&7#L&#M"@N"J#a"#9.& 0F9&7>09.#@F#9.በM8@N"#9.@%20"82#N&7&#.%"9&8#8@N"#0"8#077&29&8)#>@"M2#N&7&#L&09&"#0"8#F@74&8#@%9#@F#9.&/7 9&>;B&2)#0"8#4@%"9B&22#7&>0/"#/"#./8/"<#@7#.0G&#FB&8#9.@%"97EJ !"#$%&'(%)*+$,$-.%%%!(
0$%9*(#-$!565 X.&#?.N&#A02#67@I&49#0"8#9.p"25=%7>0#!/B#-@77/8@7 ;7&2&"9#G&7E#2&7/@%2#7/2M2#9@#9.&#;&@;B&#@F#=%7>0J e&G&"%&2#"&07#S?Y'#L/BB/@"#;&7#E&07#N/BB#FB@N#9@#0#7&& N/9.#0#N&BB58@4%>&"9&8#9704M#7&4@78#@F#%2/"<#<02 7&G&"%&2#F@7#N&0;@"2#;%74.02&2)#0L%2&2#0<0/"29#/92#@N" ;&@;B&)#<7@22#"&&"9#@F /"8%297E)#;@9&"9/0BBE#;7@G/8/"<#9.07M#F@7#F%79.&7#G/@B&"9 2@4/0B#%"7&29J#j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�L/B/9E#9@#4@>;7@>/2 .&/7#@N"#2@4/0B 7&2;@"2/L/B/9E#290"80782#0"8#8@>&29/4#B0N2)#907"/2.#9.&/7 4@7;@709&#/>0<&)#0"8#&T;@2 .&>#9@#4@29BE#B/9/<09/@")#9.%2 ;B04/"<#9.&/7#/"G&29>&"9#;7@F/B&#/"#I&@;078EJ
!)#%%/*0012*0%*3%4*#$0
X.&7&G&70B#088/9/@"0B#F/"0"4/0B#7/2M2#9@#8@/"< L%2/"&22#/"#=%7>0#0"8#N/9.#0#I%"90#8&247/L&8#02#0 H9.@7@%<.BE#%"7&B/0LB&K#L%2/"&22#;079"&7J!7#D"#&4@"@>/29 29%8E/"<#=%7>0#F@7#2&G&70B#E&072#0"0BE^&8#9.&2/2M2g a"#<&"&70B)#/"9&7"09/@"0B#/"G&29@72#/"#=%7>0#F04�" 0770E#@F#.%78B&2#0"8#@L2904B&2#/"#7&0B/2/"<#;7@F/9 F7@>#9.&/7#&"<0<&>&"9#/"#9.@%"97EJ#X.&2&#/"4B%8& 0#"&07#P$%,0%3*!"*-,2Q!@F#7/2M2)#/"4B%8/"
-@7;@709/@"2#9.09#07ଢ଼&5@N"&8#>0E#F04&8%4&8 ;7@F/92)#;7@;&79E#0"8#022&9#2&/^%7&)#@7#;%LB/4#7&B09/@"2 8/2029&72)#0BB#@F#N./4.#N/BB#70/2&#b%&29/@"2#F7@>#9.& 4/9/^&"7E#0L@%9#9.&#>0"0<&>&"9#@F#;%LB/4#F%"82#/" @G&72&02#/"G&29>&"92J >%3#,(*9!J("O" X.&#;/;&B/"@%9&#;022&2#9.7@%<.#07&02#;079BE#4@"97@BB&8 LE#&9."/4#4&02&#F/7&#<7@%;2)#/"4B%8/"<#9.&#?.0"#?909& D7>E5Q@79.#c??D5Qd)#9.&#_04./"#`&F&"4&#D7>E#c_`Dd 0"8#9.&#CE0">07#Q09/@"0B#`&>@4709/4#DBB/0"4&#D7>E cCQ`DDdJ#=%7>012#7&&#/"#&07BE#*++,#099&>;9&8#9@ ;%9#9.&2&#<7@%;2#%"8&7#/92#4@"97@B#LE#;7&22%7/"<#9.&>#9@ 970"2F@7>#02#H=@78&7#A%078#i@74&2JK#=@9.#9.&#??D5 Q@79.#0"8#9.&#CQ`DD#7&I&49&8#9.&#/8&0)#/"47&02/"< >/B/907E#9&"2/@"2#N./4.#58&2;/9&#-./"&2&#<@G&7">&"9 /"9&7G&"9/@"#9@#"&<@9/09�#2&99B&>&"95#B&8#9@#0#=%7>&2& 07>E#09904M#@"#9.&#CQ`DD#.&08b%079&7#@"#D%<%29#*\J X.@%20"82#@F#4/G/B/0"2#.0G&#FB&8#0"8#90M&"#7&F%<&#/"#-./"0J X./2#F/<.9/"<#4@%B8#&240B09�"8#2;7&08#047@22#9.&0#@F 9.&#;B0""&8#;/;&B/"&2J X.&#F049#9.09#=%7>0#8@&2#"@9#%2&#/92#@N"#&"&7<E#9@#209/2FE B@40B#"&&82#0"8#8&G&B@;#/92#@N"#/"8%297E#/2#47&09/"< F7%29709/@"#0"8#0"<&7#0>@"<29#9.@>&29/4#;@;%B09/@")#02 &G/8&"4&8#LE#9.&#%";7&4&8&"9&8#8&>@"29709/@"2#/"#D%<%29 0"8#?&;9&>L&7#*++\J#X.&#L@/B/"<#F7%29709/@"#@F#@"&#B@40B 4@>>%"/9E#/"#D70M0"#?909&#&T;B@8&8#/"#D;7/B#*++\#0F9&7 9.&#-./"&2&#@/B#4@>;0"E#-Q!!-#4@"F/2409&8#F07>#B0"82
=&,%.(18.%!8#"(&%""!$1,*&%, 65$. '$%+2+(,. (-. &5$. /$3+)$. &(. 2$**. &5$. V5C$. 312. &( 4OP4.1&.&5$.;$*(C8)1/<$&.#/+%$.(-.QVW@.#$/.ET6Q C12. 1. ;*(C. &(. &5$. V5C$. %(,2(/&+0)? !". B1$C(( D,&$/,1&+(,1*.C12.(0&/13$'.1,'.%*1+)$'.&51&.&5$.*(C #/+%$.C(0*'.0,-1+/*F./$'0%$.#/(-+&.)1/3+,2.-(/.&5$.D,'(8 X(/$1,. %(,2(/&+0)?. 7. &$1). (-. *$31*. $"#$/&2. 1,' B1$C((.$"$%0&+=$2.C12.2$,&.&(.%51**$,3$.&5$.'$%+2+(, ;$-(/$.&5$.T0/)$2$.(--+%+1*2.;0&.C$/$.0,20%%$22-0*?!!
0"8#8/24.07<&8#4.&>/40B2#/"9@#9.&#B@40B#N09&7N0EJ#f@40B 7&2/8&"92#L7@M&#/"9@#0"8#70"204M&8#-Q!!-12#87/BB/"< 2/9&)#8&297@E/"<#&b%/;>&"9#0"8#B@@9/"<#2%;;B/&2J:8#?%4. /"4/8&"92#4@%B8#&240B09&#/"#7&2;@"2 @#F%79.&7 8&G&B@;>&"92#/"#9.&#@/B#0"8#<02#2&49@7#N/9.#"@ ;079/4/;09/@"#@F#B@40B#4@>>%"/9/&2J e&5/<"/9/@"#@F#F/<.9/"<)#0"#/"47&02&#/"#.%>0"#7/<.92#0L%2&2 c2&&#"&T9#2&49/@"d)#0"8#@7#9.&#"&<09/G@4/0B#/>;0492#@F 9.&#;7@I&492#N/BB#/"47&02 .&#FB@N#@F#7&F%<&&2#9@ "&/<.L@7/"<#4@%"97/&2J#X.&#/"47&02/"<#<0;#L&9N&&"#9.& >/B/907E#@FF/4/0B2#0"8#9.&#<&"&70B#;@;%B09/@"#/"#=%7>0#0"8 9.&#<0;#L&9N&&"#=%7>0#0"8#/92#"&/<.L@72#0B2@#F%79.&7 9.7&09&"2#7&07)#?&47&907E)#i@7%>#F@7#`&>@4704E#/"#=%7>0
<-2$.(3(*9!1&'!R#21&!J(/+*"!S8#"%"!J("O" X.&#@/B#0"8#<02#;/;&B/"&2#N/BB#;022#9.7@%<.#**#9@N"2./;2 0B@"<#0#,[+#M>#4@%72/@22#=%7>0)#0#I@%7"&E#F/F9&&" 9/>&2#B@"<&7#9.0"#9.&#B0"8#;@79/@"#@F#=%7>012#]080"0k ]&90<%"#;/;&B/"&2#c2&&#L@TdJ#-%77&"9BE#F@79E5F@%7#/"F0"97E 0"8#B/<.9#/"F0"97E#L0990B/@"2#07&#;@2/9/@"&8#0B@"<#9./2#7@%9&J O04.#L0990B/@"#.02#%;#9@#U++#2@B8/&72)#N./4.#>&0"2#9.09#09 9./2#9/>&#/9#/2#;@22/LB .09#9.&7&#%;#9@#'U)*++#2@B8/&72 ;@2/9/@"&8#0B@"<#9.@%9&#c2&&#>0;dJ a"4/8&"92#@F#/"47&02&8#8&;B@E>&"9#@F#97@@;2#F@7 /"F70297%49%7&#;7@I&492#07&#N&BB58@4%>&"9&8#/"#=%7>0J 6029#0"8#;7&2&"9#&T;&7/&"4&2#2.@N#9.09#N.&"#>/B/907/^09/@" .02#@44%77&8#0B@"<2/8&4%7/"<#&T97049/G&#/"G&29>&"92#/" =%7>0)#B@40B#;&@;B%LI&49#9@#0L%2&2#LE#9.&#=%7>0 D7>E#2%4.#02#F@74&8#B0L@%7)#2&T%0B#0220%B9)#F@74&8 7&B@409/@")#0"8#B0"8#4@"F/2409/@"J#X.&2�L%2&2#/"#9%7"#B&08 9@#8/2;B04&>&"9#0"8#>/<709/@"#@%9FB@N2J#X./2#;099&7"#/2 97%&#F@7#"09%70B#<02#&T97049/@"#02#N&BB)#02#9.&#&T;&7/&"4&#@F =%7>012#@9.&7#/"9&7"09/@"0B#;/;&B/"&2#;7@I&49)#9.&#]080"0k ]&90<%")#4B&07BE#8&>@"29709&2#c2&&#L@TdJ i@74&8#B0L@%7#.02#0B7&08E#L&&"#&>;B@E&8#F@7#7@082 4@"297%49/@"#/"#D70M0"#?909&)#088/"<#47&8/L/B/9E#9@#F&072 9.09#9.&#;7049/4@%B8#N&BB#/"47&02&#N/9.#4@"297%49/@"#@F 9.&#-./"&2&#;/;&B/"&2#0"8#022@4/09&8#/"F70297%49%7&J#a" D;7/B#*++R)#2@B8/&72#077&29&8#F/2.&7>&"#/"2/8�"#&T4B%2/@" ^@"@%"8#&T;B@709@7E#7/<2#/"#9.&#?.N&#<02#F/&B82J#X.& "+#%%/*0012*0%*3%4*#$0
>&"#N&7&#"@9#0N07&#@F#9.&297/49/@"2#02#9.&E#.08 F7&b%&"9BE#<@"&#F/2./"<#/"#9.09#07&0J#e&<078B&22#@F#9./2)#9.&E N&7&#L&09&"#0"8#9.7@N"#/"#I0/BJ:" f0"82#.0G�B2@#L&&"#4@"F/2409&8#F@7#7&4&"9#@"2.@7&#@/B &T;B@709/@"#049/G/9/&2#LE#9.&#-./"&2&#Q09/@"0B#!FF2.@7&#!/B -@7;@709/@"#c-Q!!-d#/"#=B@4M#C)#N./4.#/"4B%8&2 _E0%M#6.E%)#9./9&#@F#9.&#;B0""&8#@/B#9&7>/"0BJ:##f@40B 0%9.@7/9/&2#;/BF&7&8#9.&#;0B97E#4@>;&"209/@"#>@"&E#9.09 N02#@FF&7&8J#X.&7&#/2#"@#7&02@"#9@#L&B/&G .09#2%4. /"4/8&"92#N/BB#"@9#.0;;&"#0<0/"J X.&#>/B/907E#;7&2&"4&#/"#D70M0"#?909&#.02#F@74&8#>0"E#9@ B/G&#/"#4@"290"9#F&07#@F#077&29#@7#9@#FB&&J#a"8/G/8%0B2#N.@ .0Ga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cD49/G/29d
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
'#99#-,/$%*8(""4$9-6*:/%,9,/$40*#-/$5*914*8/"",0/"
Lashio Mandalay
Shwe
Magwe
Naypyidaw
!E$%0)$%1$$2/7%5'*5$)*$1%0<'6,%,#$ Kyauk Phyu 2/0**$1%&03%0*1%'./%2.2$/.*$3%4)'+ = 1 battalion or 250-300 soldiers 9)0A0*%=,0,$%,#)'6&#%=#0*%=,0,$%,' F#.*08%"#$%3'5.0/%0*1%$*(.)'*+$*,0/ ,-.#/#0-123454#3675#-8 5-9:7;627# /:<# =/55/36-:7> .+205,3%'4%,#.3%2)'G$5,%0)$%&'.*&%,'%<$ 744#?224:<6@#" Rangoon #6&$;%<6,%/'50/%5'++6*.,.$3%/.(.*& 0/'*&%,#$%2.2$/.*$%)'6,$%#0($%<$$* *$.,#$)%.*4')+$1%*')%5'*36/,$18 H$0*-#./$%,#$%)$&.+$%-.//%&$,%+')$%+'*$7%,'%<6./1%62%.,3%0)+7%0*1%5'*,.*6$%,'%)02$;%,'),6)$%0*1%A.// -'+$*8D>%C)+,"4()05"'2+,-".()+"D25&+<9"D49/@"#Q&9N@7M#c?lDQd !"#$%&'(%)*+$,$-.%%%"!
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`/$,%5.%(0/&2.-(/.%()#*+%+&F.+,.&5$ 1;(=$.1;02$2?.D,.$1/*F._[[ZK.1-&$/.F$1/2.(-.*+&+31&+(,K.6(&1*.1,'.45$=/(,K.C5+%5.1;2(/;$'.Q,(%1*K.2$#1/1&$*F.13/$$'.&(.#1F )0*&+8)+**+(,.'(**1/.2$&&*$)$,&2.&(.T0/)$2$.#*1+,&+--2.1,'.51=$.-1%$'.+//$#1/1;*$.51/).&(.&5$+/.,1)$2.+,&$/,1&+(,1**F? D,.O(=$);$/._[[[K.&5$.T0/)1./$3+)$.;$31,.%(,2&/0%&+(,.(-.1.9a[8)+*$.2#0/.*+,$.-/().X1,;10<.+,.E(,.V&1&$.&(.EF1+,3 X1*1F.+,.X1/$,.V&1&$.&(.#+#$.312.-/().&5$.Y1'1,1.-+$*'2.&(.1.%$)$,&.-1%&(/F?.E(/$.&51,._K@[[.1%/$2.(-.*1,'.C$/$.2$+R$' +,.%*$1/+,3.&5$./(0&$b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c(02+,3.1,'.20##(/&+,3 &5$2$.&/((#2.512.*$'.&(.&5$.2$+R0/$.(-.)(/$.&51,.9_K[[[.1%/$2.(-.*1,'.1,'.&5$2$.&/((#2.1/$./$2#(,2+;*$.1./1-&.(-.=+(*$,& 1;02$2K.+,%*0'+,3.&(/&0/$K.)0/'$/.1,'./1#$? ""#%%/*0012*0%*3%4*#$0
-@>;0"/&2#/"G@BG&8#/"#9.&#?.N&#A02#67@I&49#0"8#9.& X70"25=%7>0#!/B#-@77/8@7#N/BB#L@>;B/4/9#/"#0"E#0L%2&2 022@4/09&8#N/9.#9.&2&#;7@I&492J#X./2#N/BB#LP>0>%"/9/&2#L%9#0B2@#9@#9.& 4@>;0"/&21#7&;%909/@"2#0"8#/"G&29@7#4@"F/8&"4&J#X./2#/" 9%7"#.02#8/;B@>09/4#/>;B/409/@"2#F@7#<@G&7">&"92) &2;&4/0BBE#/F#/"G@BG&8#4@>;0"/&2#07ଢ଼&5@N"&8)#02#/"#9.& 402&#@F#-./"012#-Q6-J ?.07&.@B8&72#047@22#9.&#N@7B8#07&#/"47&02/"
%&'(') ;<%;) -,=>1(,
!"#$%&'(%)*+$,$-.%%%"$
K%"*,#3*(-&!-0!T&)(,-&2%&*1.!R%1.*+!1&' V(-'()%,"(*9 a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
"%#%%/*0012*0%*3%4*#$0
T&'1&/%,%'!"$--&D8(..%'!"1&'$($%," D70M0"12#4@0290B#>0"<7@G&2#07&#;079#@F#9.& L/@B@#;&7F@7>/"<#@"&#@F#9.&#F/729#2%7G&E2#@F#9.& D70M0"#4@029#/"#*++[#F@%"8#[R#@F#9.&#%"/b%&#L/782 02#N&BB#02#2&G&70B#@9.&7#
E:*94@2#$<03%$<4@G:* C0"<7@G&#F@7&292#;7@G/8�#G/90B "09%70B#;7@9&49/@"#0<0/"29 4E4B@"&2)#29@7>#2%7<&2)#0"8#9/80B N0G&2J#X.&#N@7B8#.02#L&4@>& ;0/"F%BBE#0N07&#@F#9.P"<&72#@F >0"<7@G&297%49/@"#0F9&7#9.& *++R#D2/0"#X2%"0>/#0"8#=%7>012 -E4B@"&#Q070"<7@G&2)#0 2%L2&9#@F#9.&#CE0">07#-@0290B C0"<7@G&2)#07&#/>;@790"9#F@7 4@0290B#;7@9&49/@"#/"#0"#07&0#9.09 F7&b%&"9BE#2%FF&72#F7@>#>@"2@@" 29@7>2J#X.&E#07�B2@#7&4@<"/2&8 F@7#9.&/7#L/@8/G&72/9EJ#X.&0) %"9/B#7&4&"9BE#(+)+++#2b%07/&2 /"#2/^&)#.02#0B7&08E#L&&" 8&G02909&8#LE#9.&#&290LB/2.>&"9 @F#2.7/>;#F07>2)#.07G&29/"<#@F F/7&N@@8)#0"8#/"F70297%49%7& 8&G&B@;>&"9#F@7#@/B#&T;B@709/@"#/" 9.&#@"2.@7&#=B@4M#CJ#X.& ;/;&B/"@"297%49/@"#P#4%99/"< C1"(3+*1"BAOY---")43)"45"#R9('53"$+7?4*":41&"1&'J*+5)*"@'73"@4**45?.";+5?7'K3*"67'K4)3 9.7@%<.#9.&#>0"<7@G&2#P#N/BB 974149+("67'13914'5"D7'@"9R9('53*"+5)"*1'7@"*J7?3*. 40%2&#F%79.&7#8&297%49/@"#0"8 >0M .&#;&@;B&#@F#D70M0"#?909& >@7&#G%B"&70LB @#80>0<&#F7@>#4E4B@"&2#0"8#29@7>#2%7<&2J#X.&G&B@;>&"9#@F#0"#@/B#9&7>/"0B#/"#_E0%M#6.E%#9.09 /"4B%8&2#@/B#90"M&7#970FF/4#0"8#@/B#29@70<&#F04/B/9/&2#0B2@#;%9#9.&#>0"<7@G&2#0"8#B@40B#>07/"&#B/F�"8#N/B8B/F #7/2M#/F#9.&7& 07�"E#2;/BB2#@7#/>;7@;&7#8/24.07<&#@F#N029&J !"#$%&'(%)*+$,$-.%%%"&
!)99#$<0%?4@**0;#@'#G:4*#920":%49=%$'* =02&8#@"#9.&#;029#./29@7E#@F#9.&#]080"0k]&90<%"#;/;&B/"&2) 9.&#?.N&#;/;&B/"&2#0"8#044@>;0"E/"<#/"F70297%49%7&#N/BB 7&b%/7�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a"#088/9/@"#9@#9.&#L/8@G&7/29E 2;@92#0B@"<#9.&#;/;&B/"@%9&)#7/<2#09#2&0#>0E#/>;049 >07/"&#B/F�"8#4@70B#7&&F2#@FF#9.@029J AB@L0B#*++#O4@7&@29#47%4/0B#9@#9.& 4@"2&7G09/@"#@F#
"'#%%/*0012*0%*3%4*#$0
L1/1DZ1&($#,(D<+(&!R(.."!Z-("*!N-,%"*")#@"&#@F#9.& '+#>@29#G%B"&70LB&#F@7&292#/"#9.&#N@7B8#9.09#.02#B07<& 970492#@F#/"9049#F@7&29#0"8#.02#E&9#9@#L&#;7@;&7BE#29%8/&8) 0"8#N./4.#/"4B%8&2#9.&g >6@+*'41>'06:3*1J'-"60%?'60%W+*$(.(#P#0#%"/b%&#L/@5 <&@<70;./4#47@227@082#N.&7�"/>0B2#0"8#;B0"92#F7@>#9.& a"8/0")#a"8@5C0B0E0")#0"8#a"8@5-./"&2&+0.'0$%W+*$(.(#P#.@>&#@F 9.&#D70M0"#F@7&29#9%79B&)#0>@"<#9.&#*V#>@29#&"80"<&7&8 9%79B&2#/"#9.&#N@7B8J"$ >$C"'7';'%!3A.*+:6-'7%W+*$(.(#P#.@> @#>@7 .0" ''+#>0>>0B#2;&4/&2)#/"4B%8/"<#9. /<&7)#D2/0"#&B&;.0"9) N/B8#8@<)#2>@@9.54@09&8#@99&7)#0"8#40;;&8#B&0F#>@"M&EJ L-,*+%,&![&'-3+(&1!>#8*,-$(31.!N-,%"*"X#0#47@227@082 @F#9.&#j/>0B0E02#0"8#97@;/40B#F@7&292)#7/4.#/"#&"8&>/4#L/78 B/F&)#N./4.#/"4B%8&2#9.&#]%""0"#6B09&0%#?%L97@;/40B OG&7<7&&"#i@7&292
l/9.@%9#0"E#>&4.0"/2>2#/"#;B04 @#&"2%7&#;7@;&7#0"8#&"G/7@">&"90BBE52@%"8#022&22>&"92)#;B0""/"<)#0"8#;7@4&8%7&2) 9.&#;7@I&49#4@%B8#L/20297@%2#9@#07&02#@F#./<.#G0B% @#9.&#N@7B812#L/@8/G&72/9EJ
%&'(') ?.
D#2&9#@F#-./"&2&#<@G&7">&"9 <%/8&B/"&2#9.09#N/BB#7&b%/7&#-./"&2& 4@>;0"/&2#@;&709/"<#@G&72&02#9@ F@BB@N#&"G/7@">&"90B#290"80782#/2 4%77&"9BE#0N0/9/"<#0;;7@G0B#F7@>#9.& 7&B&G0"9#0%9.@7/9/&2#0F9&7#L&/"< 870F9&8#LE#9.&#C/"/297E#@F O"G/7@">&"90B#67@9&49/@"#0"8#9.& C/"/297E#@F#-@>>&74&#/"#-./"0J D44@78/"<#9@#9.&#;7@;@2&8 <%/8&B/"&2)#-./"&2@>;0"/&2#N/BB L&b%/7&8#9@#0L/8&#LE#/"9&7"09/@"0B &"G/7@">&"90B#97&09/&2#-./"0#.02 2/<"&8#02#N&BB#02#7&<%B09/@"2#/" ;7@I&49#.@29#4@%"97/&2J#aF#-./"012 &"G/7@">&"90B#290"80782#07&#./<.&7 9.0"#9.&#.@29#4@%"97/&21)#-./"&2& /"G&29@72#2.@%B8#F@BB@N#-./"&2& 290"80782J#-./"012#@%9L@%"8 /"G&29@72#N/BB#0B2@#LM&8#9@#7&G/&N 0"E#&"G/7@">&"90B#/>;049#9.&/7 ;7@I&492#>/<.9#.0G&#L&F@7 .&E#07& 29079&8J"5
I&3"J5)37S*1J)43)"C7+2+5"9'+*1"4*"J5)37"1&73+1"D7'@"'DD*&'73"?+*"3Q17+914'5"+5) 6'13514+("'4("*64((*"D7'@"'4("*1'7+?3"D+94(4143*"+5)"'4("1+5237"17+DD49
a9#/2#02#E&9#%"M"@N"#N.&9.&7#9.&2& <%/8&B/"&2#N/BB#L�;B/&8#9@#9.p"25=%7>0#;/;&B/"&2J#X@#809&)#.@N&G&7)#"@#&"G/7@">&"90B#/>;049#022&22>&"92#@F &/9.&7#9.&#?.N&#A02#67@I&49#@7#9.&#=%7>05-./"0#@/B#970"2F&7#.0G&#L&&"#>08&#;%LB/4J !"#$%&'(%)*+$,$-.%%%"(
%&'(') (+=
W'9+("6'6J(+14'5*")3635)"'5"1&3"(+5)Y":+137"+5)"5+1J7+("73*'J793*"D'7"D+7@45?Y"D4*&45?Y"+5)"7+:"@+1374+(*"5393**+7R"D'7"3K37R)+R (4D3."C5R")+@+?3"1'"1&3"35K47'5@351":4(("453K41+N(R"4@6+91"(4K3(4&'')*."HR"1&3"*+@3"1'235Y"D'793)"(+N'J7Y"3Q1'714'5"+5)"(+5) 9'5D4*9+14'5"NR"1&3"HJ7@+"C7@R"1&+1"+99'@6+543*"45973+*3)"@4(41+74Z+14'5"1&73+135*"('9+("39'5'@43*"+5)"(4K3(4&'')*. ")#%%/*0012*0%*3%4*#$0
(%"(/'5!%"
a"#0#4@%"97E#N.&7�"#&29/>09&8#9N@#>/BB/@"#07& /"9&7"0BBE#8/2;B04&8#0"8#@G&7#9N@#9.@%20"8#07& I0/B&8#F@7#;@B/9/40B#L&B/&F2)#9.B&#@F#9.&#?.N& A02#0"8#L%/B8/"<#@F#9.p"25=%7>0#4@77/8@7 2@B/8/F/&2#9.�L/B/9E#@F#9.&#>/B/907E#I%"90#7%B/"< =%7>0#9@#.@B8#9.@%"97E#.@290<&J#X.&#"&07BE @"&#L/BB/@"#/"#7&G&"% .09#9.&#<02#20B&2#N/BB#L7/"< /"#0""%0BBE)#4@>L/"&8#N/9.#9.&#;@B/9/40B#;7@9&49/@" 9.09#-./"0#;7@G/8&2#9.&#I%"90#/"#/"9&7"09/@"0B#F@70 07&#;%99/"<#9.&#;&@;B&#@F#=%7>0#/"#<70GP"<&7J ]&9#9.@>;0"/&2)#<@G&7">&"92)#0"8#/"G&29@72 /"G@BG&8#/"#9.&2&#;7@I&492#07�B2@#G%B"&70LB @ F/"0"4/0B#B@22&2#F7@>#7&5/<"/9/@"#@F#F/<.9/"<#0B@"< 9.&#;/;&B/"@%9&)#;%LB/4#7&B09/@"2#8/2029&72)#0"8 4@29BE#B/9/<09/@"J#a9#/2#"@9#9@@#B09 @#29@;#9./2 8/2029&7#F7@>#%"F@B8/"<J
!"#$%&'(%)*+$,$-.%%%"*
4-(4104!7"-(4//-4"&-4-)!5!%"
=%7>0#.02#"@#B0N2#9@#;7@9&49#.%>0"#7/<.92#@7#9.&#&"G/7@">&"9)#0"8#/92#07>E)#N./4.#N/BB#4B&07#07&02#0"8#;7@G/8&4%7/9E F@7#9.&#;/;&B/"&2)#7&;&09&8BE#0492#N/9.#/>;%"/9EJ#a"#@78&7#9@#F%BBE#;7@9&49#9.�FF&49&8#4@>>%"/9/&2#0"8#&"G/7@">&"9#/" =%7>0#F7@>#9./20297@%2#/>;0492#@F#9.&#?.N&#A02#0"8#9.p"25=%7>0#-@77/8@7#;7@I&492)#N(BBg 1."$!Q'$#++%O0.$*0'.6+0'7%-+0(+*.634B%%."$%8T)8%'09!%."$6*%"+(.%-+30.*6$(%.+0*)*I:$'09":0,">:0K%* '09%."$0N4%$*O6)43%0!@44#'@40I4@M:?9*Z 1("'*$"+79$*(B%60(.6.3.6+0'7%60G$(.+*(%'09%:$0(6+0%=309(%.+0'#G:*909":#40"@='#$<*%60%."$($%-+4:'06$(Z 1A'0K(%.+%4:P4%#$0P4@30P#$%$?#$<%."$($%:*+,$-.( %307$((%."$%=+77+#60C%-+096.6+0(%$E6(.[ <-22#&(*9!,(/+*"!1,%!$,-*%3*%' !
f@40B#;&@;B&#>%29#L@"2%B9&8#0"8#0BB@N&8#9@#;079/4/;09&#/"#9.&4/2/@"5>0M/"<#;7@4&22#07@%"8#;7@I&492#N/9.@%9 F&07#@F#;&72&4%9/@"#044@78/"<#9@#9.&#;7/"4/;B&2#@F#Hi7&�"8#67/@7#a"F@7>&8#-@"2&"9K#L&F@7 .&#;7@I&492#07& />;B&>&"9&8
!
-%>%B09/G&#O"G/7@">&"90B)#?@4/0B#0"8#j%>0"#e/<.92#a>;049#D22&22>&"92#>%29#L&#%"8&790M&"#0"8#;%LB/2.&8J X.&2&22>&"92#>%29#/"4B%8&#<&"%/"�"8#4@"F/8&"9/0B#4@"2%B909/@"#N/9.#0FF&49&8#4@>>%"/9/&2
!
X.&7&#>%29#L&#>&4.0"/2>2#/"#;B04&#N.&7&LE#0FF&49&8#;&@;B("#>0M@>;B0/"92#@F#0"E#0L%2&#@F#;@N&7#52%4.#02 .%>0"#7/<.92#0L%2&#@7#&"G/7@">&"90B#8&<70809/@"5#/"#7&B09/@"#9@#9.&G&B@;>&"9#;7@I&49)#N/9.@%9#F&07#@F#7&97/L%9/@"
!
D8&b%09@>;&"209/@"#F@7#0"E#7&B@409/@")#B0"8#2&/^%7&)#@7#;7@;&79E#80>0<&#>%29#L&#;7@G/8&8#8/7&49BE#9@#9.& 0FF&49&8#;&@;B&
$+#%%/*0012*0%*3%4*#$0
>*1&'1,'"!-0!(&)%"*2%&*!1,%!2%* !
67@I&49#/"G&29@72#0"8#/>;B&>&"9&72#>%29#F@BB@N#/"9&7"09/@"0B#.%>0"#7/<.92#B0N2)#&"G/7@">&"90B#97&09/&2)#!O-` A%/8&B/"&2)#0"8#9.&#B0N2#@F#9.&#/"G&29@721#.@>@%"97/&2J
!
DBB#&>;B@E&72#/"G@BG&8#/"#@/B#0"8#<02#;7@I&492#>%29#0L/8&#LE#/"9&7"09/@"0B#B0N2#/"#044@780"4&#N/9.#0<7&&>&"92#@F 9.&#a"9&7"09/@"0B#f0L@%7#!7<0"/^09/@"#caf!d
6,1&"$1,%&39!1&'!133-#&*18(.(*9!2%3+1&("2"!1,%!(&!$.13% !
e&G&"%p"2;07&"4E#>%29#L&#;7049/4&8#/"#7&B09/@"#9@#0BB#"09%70B#7&2@%74&G&B@;>&"9#;7@I&492)#29079/"<#N/9.#9.& />;B&>&"909/@"#@F#9.&#OT97049/G&#a"8%297E#X70"2;07&"4E#a"/9/09/G&#cOaXad
!
DBB#4@"G&"9/@"2#0"8#4@"970492#7&<078/"<#@/B#0"8#<02#&T;B@709/@"#/"#=%7>0#2.@%B8#L&#>08&#;%LB/4J#a"G&29@72#2.@%B8 7&"@%"4@"F/8&"9/0B/9E#4B0%2&2#9.09#7&297/49#;%LB/4#8/24B@2%7&#@F#;0E>&"9#709&2#0"8#7&;@79/"<#24.&8%B&2J
!
!/B#0"8#<02#4@>;0"/&2#>%29#;7@G/8&#M&E#/"F@7>09/@"#7&<078/"<#9.&90/B2#@F#@/B#0"8#<02#7&G&"%&#<@/"<#8/7&49BE#9@ 9.&#>/B/907E#7&&)#/"4B%8/"
!
X.�BB@409/@"#0"8#%9/B/^09/@"#@F#0BB#/"G&29>&"9#F%"82#>%29#L&#;B04&8#/"9@#9.&#Q09/@"0B#=%8<&9J#X.&#L%8<&9#2.@%B8#L& >0"0<&8#/"#0#970"2;07&"9#0"8#;079/4/;09@7E#>0""&7)#N/9.#;7/@7/9E#2&49@72#2%4.#02#.&0B9.#0"8#&8%409/@"#F/"0"4&8#LE 9.&#>0I@7/9E#@F#9.&G&"%&2J
!
\(*+-#*!1!'%2-3,1*(3!/-)%,&2%&*!1&'!0(&1&3(1.!*,1&"$1,%&39X!*+%"%!(&)%"*2%&*"!5(..!0#,*+%,!%&*,%&3+ *+%!-$$,%""()%!]#&*1!,#.(&/!V#,21 !"#$%&'(%)*+$,$-.%%%$!
+,4#-8%'-(4"-&% X.&#?.N&#A02#C@G&>&"9#L&B/&G&2#9.09#9.&#@"BE#N0E#9@#;7&G&"9#>022/G&#"&N#7&G&"%&2#B/"/"<#9.&#;@4M&92#@F#=%7>012 >/B/907E#<&"&70B2)#/>;&"8/"<#.%>0"#7/<.92#0L%2&2#0"8#&"G/7@">&"90B#80>0<&)#/2#9@#.0B9#9.&2&#;7@I&492J#l�BB#/"G@BG&8 /"#@"&#N0E#@7#0"@9.&7)#&/9.&7#02#2.07&.@B8&72#/"#4@>;0"/&2#@7#02#4/9/^&"2#@F#4@%"97/&2#9.09#07&#/"G@BG&8#/"#9.&#;7@I&492J#aF#N& N@7M#9@<&9.&7#N&#.0G .&#;@N&7#L%/B8#0#L&99&7#F%9%7&#F@7#=%7>0#0"8#9.&&"9#@7#;&"2/@"#F%"8#9@#/"G&29/<09&#N.&9.&7#/9#.02#/"G&29&8#/"#9.@7;@709/@"2#N/9.#290M&2#/"#9.&#?.N&#A02 67@I&49#@7#9.p"25=%7>0#!/B#-@77/8@7#0"8#/F#2@#%7< .&>#9@#8/G&29#F7@>#9.&2/2ME#;7@I&492J#6B&02&#G/2/9#09#NNNJ2.N&J@7< HA!W1,*(3($1*%!(&!'(,%3*!13*(-&" X.&#?.N&#A02#C@G&>&"9#0"8#/92#"&9N@7M2#4@@78/"09&<%B07#AB@L0B#`0E2#@F#D49/@"J#X.&7&#>0E#0B2@#L&#@9.&7#049/@"2 0770"<&8#/"#E@%7#4@%"97EJ#-@"9049#%2#F@7#8&90/B2#@F#9.&#"&T9#049/@"#09#
6-!.-'/%!3-&3%,&"!-,!1"O!^#%"*(-&"!1*!*+%!%281""9!&%1,%"*!9-#!$.%1"%!)("(*M -./"&2&#&>L022/&2g .99;gkkNNNJF>;74J<@GJ4"k&"
!"#$%&'(%)*+$,$-.%%%$$
400*"&!.-:;-(%104"8-0$%2!/*5 FGdb.VV!] Z[9a>dJ.*(2&.;+**+(,2.'0/+,3.1.'+=$2&)$,&.%1)#1+3,.+,._[[d?.4OP4.1,'.P$&/(45+,1.51=$.,$1/*F.%()#*$&$.(=$/*1#.+,.)1,13$)$,&? 5&&#]\\CCC?%,#%?%()?%,\$,3\%()#1,F\.7OB.5&&#]\\CCC?#$&/(%5+,1?%()?%,\#&/\ M.3N::& O/+30/.+<:/.=& K7:(+G& P:03.L >/<(&5*$' 0*/?%+(79%&1' :/4/;%&' /49' (3%&/*(&' ()' *+%' ,+-%' ./0' @&(<%8* B1$C((.D,&$/,1&+(,1*.3/$C.(0&.(-.&5$./$(/31,+21&+(,.(-.1.;1,d.;+**+(,.8.;0&.C12.+,._[[Z.-+,1**F.2$,&$,%$'.&(.9[ F$1/2.+)#/+2(,)$,&.1,'.-+,$2?.65$.V(0&5.X(/$1,.3(=$/,)$,&.20##(/&$'.&5$.$)$/3$,%$.(-.&5$.B1$C(( D,&$/,1&+(,1*.1,'.#/(=+'$'.1.QVWd[.)+**+(,.*(1,.-(/.&5$.$"#*(/1&+(,.2&13$2.(-.&5$.V5C$.H12.P/(S$%&? B1$C((.D,&$/,1&+(,1*.IBDJ.+2.V(0&5.X(/$1U2.*$1'+,3.$"#(/&.&/1'+,3.%()#1,F?.B1$C((.1*2(.20##*+$2.D6.2$/=+%$2.&(.T0/)1U2 /$3+)$.1,'.512.&+);$/.)1,0-1%&0/+,3.1,'.%*(&5+,3.+,&$/$2&2.+,.&5$.%(0,&/F?.D,.O(=$);$/._[[d.&5$.#/$2+'$,&.(-.B1$C(( D,&$/,1&+(,1*. C12. %(,=+%&$'. +,. 1. V(0&5. X(/$1,. %(0/&. -(/. +**$31**F. $"#(/&+,3. C$1#(,2. &$%5,(*(3F. &(. T0/)1?. . 5&&#]\\ CCC?'1$C((?%()\$,3*+25\%()#1,F\(=$/=+$C?S2#
$%#%%/*0012*0%*3%4*#$0
QHRF&S
400*"&!.-<;-34##4/!%"5-4"&-#%+"5,!05--4/%"7-(%$$!&%$ State/Division Shan
Township Mu-Se Kutkai Hsenwi Lashio Hsipaw Kyaukme Nawnghkio
Battalion # IB 123, IB 136 IB 45, IB 241, IB 242, IB 290, LIB 567, LIB 568 IB 69 IB 240 LIB 323 IB 41 IB 68 IB 291 LIB 507 LIB 522 IB 23 IB 131 IB 234 LIB 503 IB 22 LIB 501 LIB 502 LIB 17 LIB 114 LIB 115 LIB 504
Mandalay
Patheingyi Kyaukse Maymyo Singaing Tada-U Natogyi Taungtha Kyaukpadaung
LIB 116 LIB 119 LIB 14
Magwe
Chauk Yenangyaung Magwe Minbu (Sagu) Ngape
IB 13 LIB 416 IB 77 IB 83 LIB 301 LIB 317 IB 10 IB 88
Arakan
An
LIB 371 LIB 372 LIB 373
Arakan
Kyaukpyu
IB 34 LIB 542 LIB 543
fa=#q#f/<.9#a"F0"97E =0990B/@" a=#q#a"F0"97E#=0990B/@" 6/;&B/"&2#N/BB#;022#9.7@%<. **#9@N"2./;2 D#9@90B#@F#RR#a"F0"97E#0"8 f/<.9#a"F0"97E#L0990B/@"2 O04.#L0990B/@"#.02#%;#9@#U++ 2@B8/&72#F@7#0#9@90B#@F#%;#9@ 'U)*++#2@B8/&72 ?@%74&g#86G67%'09%>676.'*; R94606(.*'.6G$%\-"$7+0%+= ."$%!)Q8%60%23*4') Q&9N@7M#F@7#`&>@4704E 0"8#`&G&B@;>&"9)#C0E *++\
$'#%%/*0012*0%*3%4*#$0
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
400*"&!.->;-(4/('/4#!%"-%2-745-$*)*"'*5 D*+<J.+3&:?&J<=<+.01&Y(/+.Z*&*G.03&:?&03X3/(3*&?0:J&+G3&*.=3&:?&+G3&7GN3&R.* H+*3)"'5"T-"67')J914'5"R3+7*Y"+"*+(3"67493"'D"!"#$%&'(Y"+5)"CK+4(+N(3"=+*"73*37K3*"'D"/.B19D"! C(("+@'J51*"+73"45"EF"]'((+7*"+5)"7'J5)3)"1'"1&3"53+73*1"B--!"
e$=$,0$2.-/().21*$.(-.7=1+*1;*$.H12.h.:d?>:.;+**+(,$ 9[g.e(F1*&+$2.h.:?d>.;+**+(," G#$/1&+(,.1,'.4(,2&/0%&+(,.4(2&2.I4(2&.H12J.h.>?_:.;+**+(,! P/(-+&.H12.h._a?>>;+**+(,% VPB4.251/$.(-.P/(-+&.H12.h.9Z?_d.;+**+(,& 4(,2(/&+0).251/$.(-.P/(-+&.H12.h.9_?_a.;+**+(,# B+2%(0,&.-(/.B()$2&+%.H12.h._@Z.)+**+(,' 4(,2(/&+0).251/$.i.'+2%(0,&.h.99?a_.;+**+(, EGH!.251/$.(-.P/(-+&.H12.12.%(,2(/&+0).)$);$/.h.9?dd.;+**+(,( P/(-+&.H12.&(.,(,8EGH!.4(,2(/&+0).h.9[?[>.;+**+(, 61"$2.&(.VPB4.(,.,(,8EGH!.4(,2(/&+0).P/(-+&.H12.h._?Z_.;+**+(,) `$$2.-(/.&/1+,+,3.1,'.&$%5,(*(3F.h.:.)+**+(,$* P/('0%&+(,.;(,02$2.h.Z.)+**+(,$$ VPB4./$=$,0$2.IC\(0&.2+3,+,3.;(,02J.h.1##/("+)1&$*F._@?ZZ.;+**+(, j.P+#$*+,$.6/1,2+&.-$$.&(.VPB4.h.@?>.;+**+(,$"
_!1$$,-7(21*%.9!=>?!HEAH!8(..(-&!-)%,!@`!9%1,"!:=>?!EB`!2(..(-&!$%,!9%1,; !
"I&3*3"D4?J73*"+73"1+235"D7'@"6JN(49(R"+K+4(+N(3"45D'7@+14'5."]31+4(*"D7'@"1&3"F&:3"%7')J914'5"F&+745?"#'517+91"+5)";3@'7+5)+"'D E5)37*1+5)45?"&+K3"5'1"N335"@+)3"6JN(49. $)#%%/*0012*0%*3%4*#$0
D*+<J.+3&:?&J<=<+.01&Y(/+.Z*&*G.03&:?&03X3/(3*&?0:J&+G3&*.=3&:?&+G3&7GN3&R.* H+*3)"'5"T-"67')J914'5"R3+7*Y"+"*+(3"67493"'D"!"#$%&')*)+Y"+5)"CK+4(+N(3"=+*"73*37K3*"'D"/.B19D"! C(("+@'J51*"+73"45"EF"]'((+7*"+5)"7'J5)3)"1'"1&3"53+73*1"B--!"
e$=$,0$2.-/().21*$.(-.7=1+*1;*$.H12.h.d_?@:.;+**+(,$ e(F1*&+$2.I9[g.(-./$=$,0$2J.h.d?_@.;+**+(," G#$/1&+(,.1,'.4(,2&/0%&+(,.4(2&2.I4(2&.H12J.h.>?_:.;+**+(,! P/(-+&.H12.h.>A?AZ.;+**+(,% VPB4.251/$.(-.P/(-+&.H12.h.:@?9a.;+**+(,& 4(,2(/&+0).251/$.(-.P/(-+&.H12.h._>?da.;+**+(,# B+2%(0,&.-(/.B()$2&+%.H12.h.>9Z.)+**+(,' 4(,2(/&+0).251/$.i.'+2%(0,&.h._>?_Z.;+**+(, EGH!.251/$.(-.P/(-+&.H12.12.%(,2(/&+0).)$);$/.h.:?dA.;+**+(,( P/(-+&.H12.&(.,(,8EGH!.4(,2(/&+0).h._9?@d.;+**+(, 61"$2.&(.VPB4.(,.,(,8EGH!.4(,2(/&+0).P/(-+&.H12.h.>?a[.;+**+(,) `$$2.-(/.&/1+,+,3.1,'.&$%5,(*(3F.h.:.)+**+(,$* P/('0%&+(,.;(,02$2.h.Z.)+**+(,$$ VPB4./$=$,0$2.IC\(0&.2+3,+,3.;(,02J.h.1##".>9?>@.;+**+(, j.P+#$*+,$.6/1,2+&.-$$.&(.VPB4.h.@?>.;+**+(,$"
_!1$$7A!Fa!8(..(-&!-)%,!@`!9%1,"!:=>?!CAbB!8(..(-&!$%,!9%1,; !
"I&3*3"D4?J73*"+73"1+235"D7'@"6JN(49(R"+K+4(+N(3"45D'7@+14'5."]31+4(*"D7'@"1&3"F&:3"%7')J914'5"F&+745?"#'517+91"+5)";3@'7+5)+"'D E5)37*1+5)45?"&+K3"5'1"N335"@+)3"6JN(49. !"#$%&'(%)*+$,$-.%%%$*
N--*&-*%"!0-,!<1.3#.1*(-&" # "I&3"CSB"+5)"CST"N('92*":373"93714D43)"NR"=+DD53R"#(453"+5)"C**'94+13*"1'"&+K3"+5"3*14@+13)"+K+4(+N(3"73*37K3"'D",.A"S"/.B"174((4'5 9JN49"D331"U19DV."I&3"D47*1"9+(9J(+14'5"1+23*"1&3"&4?&"35)"'D"1&4*"7+5?3"1'?31&37":41&"1&3"*+(3*"67493"1&+1":+*"736'713)"+1"GA"637"@4((4'5 HIE"45"M--L."^]+3:''"'N8391*"1'";R+5@+7"?+*"67493Y_"P45)J*1+5"I4@3*Y";+R"`Y"M--L"+5)"^]+3:''"W+:R37*"a4*41"HJ7@+"1'"]4*9J** F&:3"=+*"]3+(Y^";+R"`Y"M--L.""/.B"19D"Q"-.--B-TB"Q"GA"b"GTL.,T"N4((4'5.""I&3"*39'5)"9+(9J(+14'5"1+23*"1&3"&4?&"35)"'D"1&4*"7+5?3"1'?31&37 :41&"1&3"*+(3*"67493"1&+1":+*"736'713)"+1"GL.LM"637"@4((4'5"HIE"45"M--/."^
%+#%%/*0012*0%*3%4*#$0
&'()*+,-./-0(1233-4561'5(6+35(!
400*"&!.-?;--%22@5,%$*-&*)*/%01*"#-2%$-5,+*-745-0$%9*(#
!"#$%&'(%)*+$,$-.%%%%!
*"&"%#*5 "c5D'7@+14'5"4*"N+*3)"674@+74(R"'5"+"*3743*"'D"+7149(3*"1&+1":373"6JN(4*&3)"+1"1&3"14@3"'D"1&3"dJ53"M--/";3@'7+5)J@"'D"E5)37*1+5)45? N31:335"#$%#"+5)"1&3"HJ7@+X*";454*17R"'D">537?R."P':3K37"1&3";<E"41*3(D"&+*"5'1"N335"@+)3"6JN(49. $ "^I7+)45?"9'@6+543*"+993(37+13"'K37*3+*"73*'J793*"3Q6('7+14'5Y_"q'73+"P37+()Y";+R"M-Y"M--/"+1"&116eff:::.2'73+&37+().9'.27f $>[qPFcI>f)+1+f&1@(g)47fM--/f-,fM-fM--/-,M---LM.+*6 : #I&3"CSB"+5)"CST"N('92*":373"93714D43)"NR"=+DD53R"#(453"+5)"C**'94+13*"U=#CV"1'"&+K3"+5"3*14@+13)"+K+4(+N(3"73*37K3"'D",.A"S"/.B 174((4'5"9JN49"D331"U19DV."]+3:''"c51375+14'5+("&+*"*4593"*1+13)"1&+1"A.,"S"L.L"19D"'D"1&3"?+*"@+R"N3"9'@@3794+((R"K4+N(3."^]+3:''"a374D43* ;R+5@+7"=+*"n45)Y_"]+3:''"c51375+14'5+(Y"CJ?J*1"MMY"M--L. & ""EFGM.L/"N4((4'5"45"1&3"1&733"?+*"D43()*"45"N('92*"CSB"+5)"CST"+5)"+5'1&37"EFG/TO.MO"@4((4'5"45"(+R45?"+5"J5)37S*3+"6463(453"1'"1+23 1&3"?+*"1'"1&3"*&'73."^]+3:''S
%"#%%/*0012*0%*3%4*#$0
#F33"C6635)4Q"A"D'7"3Q6(+5+14'5"'D"9+(9J(+14'5*. ">9'5'@4*1"c513((4?3593"E541"U>cEV"3*14@+13)"1&3"=]%"637"9+641+"+1"EFGAT,"637"R3+7"45"M--` $, "&116eff:::.&7:.'7?f35f53:*fM--/f-AfT-fNJ7@+S'53SR3+7S+D137S9R9('53S73673**4'5S9'5145J3* $# "^=+*"+5)"p3?4@3"%73*37K+14'5Y_"H7J93"P+:23Y"+7149(3"45"J5"*#((7M7$$.Y"$'K3@N37"M--A. $$ "F33"!0CC).*7,$*4'<<7,$Y"F&:3"=+*";'K3@351Y"M--O. $% "^BA"F'J1&"q'73+5*"9'5K4913)"'D"3Q6'7145?":3+6'5*"139&"1'";R+5@+7Y_"C**'94+13)"%73**Y"$'K3@N37"B,Y"M--L. $& "^c5)4+Y";R+5@+7"F31"1'"c5973+*3";4(41+7RY">537?R"#'S'637+14'5Y_"c5)4+"]3D3593Y"]393@N37"T-Y"M--OY"+1":::.45)4+S)3D3593.9'@f736'71*SMLLM $' "^C"=7':45?"I+1@+)+:Y_"+7149(3"45"J5"*#((7M7$$.Y";+79&"M--O."HJ7@+X*"8J51+"&+*"+9\J473)"53:":3+6'5*"*R*13@*"D7'@"5J@37'J* '1&37"9'J51743*Y"459(J)45?"pJ**4+Y"F45?+6'73Y"%+24*1+5Y"$'71&"q'73+Y"E27+453"+5)"c*7+3(. !$ ##'J517R"p36'71"'5"%7'?73**"'D"%':37"]3K3('6@351"%(+5*"+5)"I7+5*@4**4'5"c51379'553914'5"%7'8391*Y"='K375@351"'D";R+5@+7Y $'K3@N37"M--`Y"+993**3)"+1"&116effNJ7@+74K37*531:'72.'7?f4@+?3*f*1'743*fNJ7@+3537?Rf"9'J517R736'71.6)D"+5)"&116eff 1'51'.34+.)'3.?'Kf9'J517Rf9'J517Rg3537?Rg)+1+.9D@rD46*bIP $) "&116eff:::.5+14'5@+*137.9'@f73)f?7+6&f353g3(3g9'5g6379+6S3537?RS3(39174941RS9'5*J@614'5S637S9+641+lNg67451+N(3bB $* "n4?J73*"6JN(4*&3)"45"J5"*N"M*O6-51*'D*L.7,<7(Y"n3N7J+7R"M--O. $+ "+,"(-.*!":0(61.*6,*G8673*456,7F*#,$67F*/6)*7,$*B"7:"Y"+"736'71"1'"1&3"$'7:3?4+5";454*17R"'D"n'734?5"CDD+47*Y"C674("M--O. %, "C5+(R*4*"NR"]7."F3+5"IJ753(( %# "=)':26,-*I(""$'<3*G*478"*!10$.*'D*456,7>8*/6)*7,$*P78*#,;"81<",1*6,*=0(<7Y"C7+2+5"<4("[+19&Y"M--`. %$ "^]+3:''"'N8391*"1'";R+5@+7"?+*"67493Y_"P45)J*1+5"I4@3*Y";+R"`Y"M--L. %% "^]+3:''"W+:R37*"a4*41"HJ7@+"1'"]4*9J**"F&:3"=+*"]3+(Y_";+R"`Y"M--L"+1"&116eff:::.477+:+))R.'7?f+7149(3.6&6r+71g4)bLBT, %& "!0CC).*7,$*4'<<7,$Y"F&:3"=+*";'K3@351Y"M--O. %' "F33"=)':26,-*I(""$'<3*G*478"*!10$.*'D*456,7>8*/6)*7,$*P78*#,;"81<",1*6,*=0(<7Y"C7+2+5"<4("[+19&Y"M--`. %( ">Q135*4K3"73*3+79&"'D"1&3*3"1:'"9+*3*"9+5"N3"D'J5)"+1"J'17)*Q",67)*4',16,0"8F>+71&p4?&1*"c51375+14'5+(Y"M--B"+5)"O76$*&781"Y PJ@+5"p4?&1*"n'J5)+14'5"'D";'5(+5)Y"M--/. %) "&116eff?('N+(45K3*1@351:+19&.9'@f:6S9'51351fJ6('+)*fM--`f-Tf6317'9&45+S(31137S'5S*J)+5S+5)SNJ7@+SD7'@S+D(S94'S+5)SD('74)+.6)D %* "^I&3"FR*13@"c@6(')3*e"I&3"B-"['7*1"#'76'7+14'5*"'D"M--`Y_";J(145+14'5+(";'541'7Y"$'K3@N37"M--`"+1 &116eff:::.@J(145+14'5+(@'541'7.'7?f@@M--`fBBM--`f:34**@+5.&1@( %+ "N710(7)*P783*=(6$-6,-*I0")*'(*E'7$H)':2*1'*4)"7,*+,"(-.RF"+"=733563+93"736'71Y"B//T. &, "^[4513745?"F6''5SN4((3)"F+5)64637*"D'J5)"45";R+5@+7Y_"H47)W4D3"c51375+14'5+(Y"n3N7J+7R"BAY"M--`. &# "&116eff:::.39':'7().'7?f1733*f+7149(3*f+7149(3*M.9D@rIc]bMAT 86 #+
!"#$%&'(%)*+$,$-.%%%%$
"[&35"41":+*"D'J5)3)"45"B/OBY"[[n"*1'')"D'7"1&3"^['7()"[4()(4D3"nJ5)._"C*"[[n"3Q6+5)3)"41*":'72"1'"9'5*37K3"1&3"35K47'5@351"+* +":&'(3Y"7+1&37"1&+5"D'9J*45?"'5"*3(3913)"*63943*"45"4*'(+14'5Y"1&3"(3?+("5+@3"N39+@3"^['7()"[4)3"nJ5)"n'7"$+1J73._ &% "&116eff35.:42463)4+.'7?f:424fW4*1g'Dg1&3g=('N+(gM-&& ":::.5+14'5+(?3'?7+6&49.9'@f:4():'7()f67'D4(3*f13773*174+(f4@f4@-BTB.&1@( &' "cN4). &( "C99'7)45?"1'"1&3"^I'6"M,"IJ71(3*"'5"]3+1&"p':Y_"+"(4*1"9'@64(3)"NR"1&3"IJ71(3"#'5*37K+14'5"nJ5)Y"M--T. &) "^=7335"7J(3*"3R3"#&453*3"D47@*"+N7'+)Y_"#&45+"]+4(RY";+R"M/Y"M--/. &$
%%#%%/*0012*0%*3%4*#$0
Related Documents
Corridor Of Power
May 2020 0
Jakarta Busway Corridor
December 2019 20
Stream Corridor Inventory Techniques
May 2020 2
River Corridor Redevelopment Strategies
October 2019 14
Habitat Corridor Modeling Process
April 2020 19