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ŎĤóĹġöïƇƖĻĞïƇıðĬñĻà
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ŃîôĠèƅľģĘóïèƅ ŻŹſ ōêĽïƌƔƌŐħïŊõûħïƌŅĪğúöïƌ ʼnģĞĤïƇʼnêƏƏƇŌĤïƑĬĢìƃ ŇáĹäŌàĮŖĬúïƇʼnêĹïƇƏƇŌð
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ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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ĮġħíƏ Źź ŇģßƏƅĶèƅŀģĠñèŅŎĩßơſĩĕêƃų ƕĩĕġèƅ ĬĦïŭåŊðňőĬæƣŎìĻĢĠáƣŀĞõïƇʼnĦěĞàŊêŇģĚìŎìƈŭĜïƇƜŭöåƇƤĹðƓƑĹáŴƗĬęĥïƇƇĺòŎì ŇáĹäƣŎìƍĬøĥàĮîƑĬęĤïƇƈŭĜïƇŃħĤøïŊĢĤó ňěìƃıőĬöñơƣƒĻùóƣʼnħģĞöïƇƢĬøáňěìƃŅíƇŌðơŌĥõöħæŴňĚĠïƇŎìƈŭĜïƇƊĬãĬħöäƇĮħõģáĹĥêƣ ĿĚúĤïƇ ʼnêĹïƇ ƣƃ ňőĬæŌïƇ ŀĞà ōïƅ ƈŭĜïƇ ŃħĤã ƌĬöùóƣ &RWWRQ ƊƇƑĬõöåŬƇ Ŏì ŎöïƇĽóƑĹöïƇĮġóĻèʼnħĤĚáōģêŎőĬĥõïƇʼnħħġöïƇŊðơŌĤģĞĤïƇĬĦõûöĢóŎöïƇƊĬðŌģĞĤïƇĹêĬûáƣ ʼnĦáŌí ƗĬġñ Ŋð ƉƏĬĠöæŬƇ ʼnĦï ķħöá ƊĬôħà ōïƅ ƈŭĜïƇ ƌĬöùó ĬĤî ʼnĦàŭè ŃħĤã ƊĬãĬħöäƇ Ŏõģá ʼnĦáƇƑĬĦðĮħĤĥáƣʼnĦöìĻĞðƂĬĥõïʼnĦáĬðĬĤöòƇƣ ĽóƑĹöïƇĮġóĻèŃóŌĥáĬĦïŭåŊðŊħĤģĞĤģïŊĢĤóƝĻèŃàƑƃʼněáĮĤőĬí ŷŵŵŵ ơŌûĥħģðŌáŃěó ŎöïƇ ƊĬðŌģĞĤïƇ ōģê ʼnĦïŌĚä ĮħĠħî ƣƃ ŋĤģĞá ōïƅ ƈŭĜïƇ ƌĬöùó Ĭð ňóĹĞá
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ŊðŊĤóĶƇĿĠïƇƊƇƑĬĦĤàĮĜõáĻĤïƇĸĤïƇŊðĻûóĶƇĿĠïƇƊƇƑĬĦĤàĮĜõáĻĤïƇĭħïĬæĶƌ ĸĤïƇ
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ĮħîĻùïƇĮħĞĤûïƇĮóĻĚõïƇĭħïĬæĶƇ
ŊðŊĤóĶƇĿĠïƇƊƇƑĬĦĤàĮĜõáĻĤïƇĸĤïƇŊðĻûóĶƇĿĠïƇƊƇƑĬĦĤàĮĜõáĻĤïƇĭħïĬæĶƌ ĸĤïƇ
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IJřİúïƌƏİãİĪöäůƌƪƨƕƍŰğïƌōêƔŻƎŐğúïƌ ŎæƇƑĹïƇňĚĠïƇŎìĮħñĬâĮğģîĮħàĻĞïƇĮğģïĬàŊħâĹùöðƣĮĥóĬõöðĮħĤħģĞáƊƇƑĹíƥƣƐƈŭèŊħĤěáơƅ ʼnêĹïĮħðƇĻïƇĮħĤħģĞöïƇňőĬæŌïƇơĪìŴŋûĠñįíŌïƇŎìƣĮħőĬĥ÷öæƇƊĬóĹùáŊħĤģĞĤïƇƠĬðƃŃěóƥƏĬĞïƇ ƈŭĜïƇŃħĤøïĮóĻâĮħĤħģĞáƊƇĻõåƠĹġáơƃŊĢĤóƊĬãĬħöäŬƇŅģöúð ŃħĤãƌĬöùóƐƅŴƉĹäŌïƇʼnħĤĚáƂĬĥâƃƦ ĬġħíƏƦ ĬĜħĜúáƣƩƦ ƇƏƇĹêƅƈŭĜïƇŃħĤãƊĬãĬħöäƇĮħõģáĭģĜöáƣ ơƃōģêňĤĞïƇĹĥêƣĻèĬúĤïƇƖŌåĹĥêĮäƇĻïƇƣĮġ÷ïĬàƑŌĞęģïĭæĬĥĤïƇʼnêĹïƇƑƇĹġðōïƅƈŭĜïƇ ʼnģĞöïƇ ƊĬàŌĞŖ Ŋð ơŌñĬĞó ŊóĺïƇ ƈŭĜģï ƠĹġĤïƇ ʼnêĹïƇ ŁĤñ Ņģöúóƣ Ŋħģġöûð ŊħæƑƇƏ ƇŌùõĚó ƊƇƑĹġïƇƥƣƐƈŭĜïƇōïƅƠĹġĤïƇŇïƐŊêĮħñĬâĮğģîĮħàĻĞïƇĮğģïĬàŊħâĹùöĤïƇōïƅƠĹġĤïƇŇïƐŊê ƥ ƅƠ ƅƠ ƏƇŌĤïƇĮĞãƇĻðŇħģêƇĺïƣʼnêĹïƇƗĬĤñƃŎìƙŌĥöïƇƇĺòŊðƦ ĬěĞàĬħãŌïŌĥĢöïƇĹêĬûáĹíƣĮħőĬĥ÷öæŬƇ ŊħæƑƇĹïƇŃħĤãƊĬãĬħöäƇĮĤőƇŌĤàņģĞöóĬĤħì&XUULFXOXP5HVRXUFH ıðĹĤïƇƕĻġïƇōģêƉƏŌãŌĤïƇ ƉĹäŌïƇŎìƊĬħøħáƇĻöæŬƇŇģáŊðŀĞàŊħĤěáĮħĠħîŎìĻħĢĠöïƇƣ &XUULFXOXP5HVRXUFHıðĹĤïƇƕĻġïƇķöìƇ
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ƈŭĜïƇŇïƐŎìĬĤà ňĚĠïƇŎìƈŭĜïƇŃħĤãƊĬãĬħöäƇĮĤőƇŌĤàĮġģĞöĤïƇƊĬħøħáƇĻöæŬƇŃãƇƑ Ĺģøð Ŏì ŊħàŌòŌĤïƇ ƈŭĜïƇƣ ĮħñĬâ Įğģî ĮħàĻĞïƇ ĮğģïĬà ŊħâĹùöĤïƇƣ ĮŖĬúïƇ ƊĬãĬħöäŬƇ ƥƣƐ &XUULFXOXP5HVRXUFHıðĹĤïƇƕĻġïƇōģêƏŌãŌĤïƇ Ŷ $FWLYLW\ \ Ż 0RGXOH
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ōĪĦġöĦï ŌöñƊĵðİñĿà ŶŵƑƇĹŖůƇƊĬħæĬæĶƇƉƑƣƏ
ĻáŌħõĤĢïƇƉļĦãƃŊĢĤá ĴģĠğÚ Ƭ ƊĬãĬħöäŬƇƥƣƐƈŭĜïƇĮħĚúęïƇ ƠĬĦðōïƅƟŌŖŌïƇŊðĮŖĬúïƇ ĮïŌĦæŊðƣŴĮĚĚúðƊĬðŌģĞðƣ ʼnĦĥĢĤóŊóĺïƇƓĬĥïƇŃðňŖƇŌöïƇ ƉļĦãĶƇŊðƉƏĬĠöæŬƇŊðƣŴʼnĦáĹêĬûð ňĤĞģïƉĨħĦĤïƇıðƇĻõïƇƣ
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ƑŌĜûïƇōģêƞƑĬĢìƃňøæƀƈŭĜïƇƊĬãĬħöäƇĮħõģáōģêƞĹêĬûöæŎöïƇĽóƑĹöïƇƊĬħøħáƇĻöæƇĬð ĮħïĬöïƇ ʼnģĞöïƇŎôħĜàƈŭĜïƇ ʼnģĞöïƇƊĬàŌĞŖŎìĮĠģöúĤïƇƊĬóŌöûĤïƇƥƣƐƈŭĜïƇ
ĮħñĬâĮğģîĮħàĻĞïƇĮğģïĬàơŌâĹùöĤïƇ
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ŃðơŌàŌòŌĤïƇƈŭĜïƇĹħġöóŬĴģĠğÚ ʼnĦàĮŖĬåĻáŌħõĤîƉļĦãƃʼnĦîŭöðƇ ʼnĦőŭðļïĮĚĚúĤïƇĮħæƇƑĹïƇƏƇŌĤïĬà ʼnĦïƍĬöóİħäŎæƇƑĹïƇŅĚïƇŎì ŎöïƇƊƇƣƏĶƇƣƊĬðŌģĞĤïƇōïƅƟŌŖŌïƇ ĮħõģáƣʼnĦìƇĹòƃņħġùáōģêʼnòĹêĬûá ʼnĦáƇƑĹíŃðĭæĬĥöáŎöïƇƣʼnĦáĬðĬĤöòƇ
ŇàĮŖĬúïƇƉĹäŌïƇĮĜåķöìƇ
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ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ĮġħíƏ žŵ ĪèĩĘèƅƢĶèŋÚƅķèƅňģÜʼnïèƅņãƍŴƕĩĕġèƅ ʼnĦáƇƑĹíƜŭöåƇōģêƈŭĜģïƉĬħùïƇƤĹðĻĤöûáŎöïƇĮðĬĦïƇʼnģĞöïƇƜƇĹòƃĹäƃŎáƇĺïƇŋħãŌöïƇĹĞó ƉĬħùïƇƣ ĮæƑĹĤïƇ Ŏì Ŏ ƍĬøĥïƇ ƍ ňãƃ Ŋð ĮħæĬæƃ ƉƑĬĦð Ƣĺò ŊóĻęĞïƇƣ ƥƏĬùïƇ ƥ ơĻġïƇ ƉƑĬĦð ĹĞáƣ ƠƇĹúöæƇŎìƦ ĬæĻĤáĻ÷îƃơŌñŌĢóĬĦïŭåŊðơŌĤģĞöóŎöïƇƝĻĜïƇơŌõêŌöûóŊóĺïƇƈŭĜïƇƣňĤĞïƇƣ ƊĬãĬħöäŬƇƥƣƐƈŭĜïƇŎáƇĺïƇŋħãŌöïƇƊƇƑĬĦðĹêĬûáƣƍĬøĥàƠĬĦĤïƇƒĬøñůĮõæĬĥĤïƇƊĬħøħáƇĻöæŬƇ Ĭð ōĚíƃ ōïƅƅ ƟŌŖŌģï ʼnòļĠùó ƤŌöûð Ŏìƣ Ŏ ňġöûð ňĢęàƣ ƍĬøĥà ƍ ƠĬĦĤïƇ Ơ ƒĬøñƅƅ ōģê ĮŖĬúïƇ ʼnħħġöïƇ ƠƇĹúöæƇ ƝĻè Ŋð Ʀ ƇƏĹê ƗĬęĥïƇ Ƈĺò ƂĬĥâƃ ŅęĢöûáƣ ŋħïƅ ƟŌŖŌïƇ Ŋð ʼnĦáƇƑĹí ʼnĦĥĢĤá ŊħģġöûðŊħæƑƇƏƇŌùõĚóơƃōģêĮŖĬúïƇƊĬãĬħöäŬƇƥƣƐĬĤħæŬƣƈŭĜïƇŃħĤãƉĹêĬûĤïŎőĬĥõïƇ ƊĬġħģĞöïƇĮàĬöĢïƊĬĤģĢïƇĮøïĬĞðıðƇĻàŎìĮĞãƇĻĤïƇĬóƇļðŊðĹħĠöûöæƣ
ŒáƌľïƌŏĪãŐöïƌŀóŀġöïIJĪŕŀøïƌƏİħĪĪĤöïƌŒìĿĪĥģöïƌź ƎŐğúïƌ ʼnħħġöïƇ Ŋê ƇĺĦà Ņģöúħï ĮħĤæƑ Ļħëƣ ĮħĤæƑ ƝĻĜà ƙƣĻęĤïƇ ƑƇĹð ōģê ŎőĬĥõïƇ ʼnħħġöïƇ ƂƇĻãƅ ʼnöó ƉĹäŌïƇƜƇĹòĶʼnĦġħġùáƤĹðōģêƈŭĜïƇƣŊħĤģĞĤïƇƙŭèůƉĹäŌïƇĮóĬĦñŎìƤĻøƪóƥĺïƇŎïĬĤãůƇ ĹĥêĮħģêĬìōĚíƃŎőĬĥõïƇʼnħħġöïƇņġùóƣ ĬĦĤģĞáơŌãĬöùóŎöïƇƊĬðŌģĞĤïƇŊêĮùŒƇƣƉƑŌŖƈŭĜïƇƂĬĜêƅ
ʼnģĞöïƇƜƇĹòĨàņģĞöóĬĤħìʼnĦðĹġáƤĹðƟŌäƉĻĤöûðƊĬĝäŭðƈŭĜïƇŎġģá
ƠĹġáŊðƢƣƒĻäƃĬðƤĹĤïƦ ĬħáƇƐƦ ĬĤħħġáƈŭĜïƇƂƇĻãƅ
ƍĬøĥïƇƞƇƑƏůĬĦêĬõáƇƈŭĜïƇōģêĭøóŎöïƇƉƏĹùĤïƇƊƇŌĜúïƇƟŌäƊĬĤħģĞáŊħĤģĞĤïƇʼnóĹġá %ODFN :LOLDP
ƞŭàŃãƇƑĹíƣƈŭĜïƇʼnģĞáōģêŎőĬĥõïƇʼnħħġöïƇņħõĜáĻħâĨöàĻðĶƇņģĞöóĬðĹĥêĮğïĬõĤïƇŊĢĤóŬƣ Ń ʼnħħġöïƇĻħâĨáƟŌäƦŭĚìƣƃƦŬĬġðźŽŵŊðƈĻġóĬðƣĮħ÷ùàĮæƇƑƏŊóĻęêƣƤĹäƅŶžžŽ ĮĥæŎìƠĬħģóƣƣ ōïƅƥƏĩáŎőĬĥõïƇʼnħħġöïƇĮæƑĬĤðļóļĞáňĤęáŎöïƇƊƇƑĬĢöàŬƇơƃƇƣĹãƣƣƈŭĜïƇňħĚùáōģêŎőĬĥõïƇ Ŏ Ŏ ʼnħħġöïƇƙƇŌñƃŊðƙŌĥïƇƇĺòơƃŊðʼnëĻïĬàƣ ž ĮùĠŖ ĮóĻòŌãơŌĢáĬðƦ ĬõïĬëƣĮģőĬòĮħĤħģĞáĭæĬĢð Ŵ %ODFNHWDO ĮĞðĬøïƇƈŭèōïƅƟĬĠèĶƇƖĬóƑƈŭèŊðƈŭĜïƇŃħĤãʼnģĞáƤŌöûðŊðŊûùó ƅ Ń Ļ÷îƃ ʼnò ƉĹêĬûĤïƇ Ŋð Ĺóļð ōïƅ ơŌãĬöùó ŊĤð ƦŭħĚùá ƈŭĜïƇ ŅĞŒƃ ơƃ ƊĬæƇƑĹïƇ ŀĞà ĻĦĝá %ODFN :LOLDP ŊóĹħĠöûĤïƇ
ŊûùáơƃōïƅİùõïƇĻħęó ĴģĠğÚ ƈŭèƤĹïĮħĤħĝĥöïƇƊƇƑĬĦĤïƇ ňĢïĻáŌħõĤîƒĬĦãĻìŌáŎöïƇƟŌĚĠïƇ ōģêƈŭĜïƇƉĹêĬûðŇħģêƣĭïĬè ʼnĦĤħģĞáƟŭåŊðƊƇƑĬĦĤïƇƢĺòĮħĤĥá ĻáŌħõĤĢïƇƑƏĬĚðƠƇĹúöæƇĮħĠħî ƠĹġáŊðƢƣƒĻäƃĬðĹŖƑƣĮĞàĬöĤï -DFNVRQ
ŊĢïƣŀĞõïƇʼnĦěĞàƈŭĜïƇʼnħġóƣƈŭĜïƇơŌĤģĞĤïƇʼnħġóŴĭïĬĜïƇƟŌäļîĻĤöáŎöïƇƟŌĚĠïƇŎìƣ Ƭ ƊĬøöĥĤïƇƣ ʼnĦà ĮŖĬúïƇ ĻħĢĠöïƇ ƊĬħģĤê ƈŭĜïƇ ʼnħġó ĬðĹĥêƣ ʼnĦûĠñƃ ƈŭĜïƇ ʼnħġó Ƭ Ƭ ĮóĬĦĥïƇ Ŏì ơĪìŴ Ŷžžŵ ļĥħøóƣķŒŌóĬĤîƣƂĬĜåĶƇŊêİùõïƇƏĻøðŊðĻõîƃŌòĬĤàơŌðŌġóʼnĦìŴĬĦñŌôęĥóŎöïƇ ķ Ŏ ʼnĦáĬħĚúçŊðƦ ƇƂļãʼnĦőƇƏƃƣʼnĦáĬøöĥðʼnħġƪáĬĦæĬæƃōģêŎöïƇĻħóĬĞĤïƇňĞãōģêơŌģĤĞóƈŭĜïƇ ŊðʼnĦĥĢĤáŇïĺîƣĮæŌĤģðƝĻĜàŋáƇƂƇĻãƅƣʼnĦģĤêƉƏŌãŎìĻħĢĠöïƇŊðƉƑĹġĤïƇƢĺòʼnĦĥĢĤáƣ ĮħïĬĞìƣƉƂĬĠîĻ÷îƃŊħæƑƇƏƇŌùõĚħïʼnĦĤģĞáƊĬħøħáƇĻöæƇňóĹĞá
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ĻûóĶƇňġĥöïƇŁóĻçŎì (QFRXUDJLQJ6HOI'LUHFWLRQDQG&ROODERUDWLRQ ĻġñƇ
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ŋðƇĹúöæƇŎìĭëĻáƥĺïƇʼnħħġöïƇŅģðňĤä
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ŇáĹäƣƊĬãĬħöäƇĮħõģöïʼnħħġöïƇƟĹê
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ƣƃƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ŋïĬĤĢöæƇƣĹĥöûĤïƇʼnĦìŇàŭèōģêňĦûƪóņħûĥáƥƃŅŒƃ ƊĬñĬħõïƇƟƣƇĹøàĮŖĬúïƇƂƇļãĶƇ
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ŇàƕĬúïƇʼnħħġöïƇƂĬęñƅŎìŋàĮñĬĞöæŭïƉĹêĬûĤïƇňħïƏŊðƊĬĤģĢïƇĮøïĬĞðƂļãōïƅŃãƑƇ
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ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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ĮġħíƏ Żŵ ĪèĩĘèƅƋĩñêĸģôģïèņãĶèƅƍƅʼnéſĩĕêƃŵ ŵ ƕĩĕġèƅ ŎìƢĺòʼnêĹïƇƏƇŌðƙƇŌñƃĹêĬûáİħäŇàŭèʼnêĹïƦ ĬãƐŌĤñƣƃƦ ĬõïĬíƣƃƦ ƇĹĥöûðƗĬęĥïƇƇĺòƂĬĥâƃīęĥá ƊĬøöĥĤïƇƣƊƇƂƇĻãůƇƣƤŌöùĤïĬàņģĞöóĬĤħìĬĦĥħàŊðƑĬħöåŬƇƈŭĜïƇōģêĭøóŎöïƇƊƇƑĬħúïƇĹóĹùá ŊðƉƏĬĠöæŬƇƣʼnĦáƇƑĬĦðļóļĞáĬĦñĨçŊðƊƇƑƇĻíƐĬúáƇōģêƈŭĜïƇƏƇŌĤïƇƢĺòĹêĬûáơƃŊĢĤóĬĤî ƉĹêĬûĤģïƤŌöùĤïƇƣĮħĥõïƇŊðĮĥóĬõöðƊĬãƑƏƦ ĬěóƃĮïĬĞĠïƇʼnêĹïƇƏƇŌðĻìŌáƣʼnĦáĬðĬĤöòƇƣʼnĦõòƇŌð ʼnêĹáŎöïƇƊƇĹĥöûĤïƇĮæƇƑƏƦ ĬěóƃŇĥĢĤóƣĮŖĬúïƇƊĬãĬħöäŬƇƥƣƐƈŭĜïƇƊĬãĬħöäƇŃðňðĬĞöïƇŎì ŇáĹäƣŎìƊĬħŒĬóĻïĬàĮìĻĞĤïƇʼnêƏĮħĠħîŎìĻĢĠáơƃƣıĦĥĤïƇƑƇĹðōģêƊĬħŒĬóĻïƇʼnģĞá
ƍŰğïƌōĦġáōêƔƖƔİĝðƑƕŐħñơİĜĥöæƌźƎŐğúïƌ ŊóĻåűƇ ōģê ňĦûó İħùà ĬĦġħûĥáƣ ƊĬĠģĤïƇ łĠùï ƉĹħĠĤïƇ ƝĻĜïƇ Ŋð ƌƐĬĤĥïƇƣ ĭïƇŌġïƇ ĹĞá ĬĦðƇĹúöæƇ ơƃŊĢĤóƣĮïŌĦûàĬòĻħħğáŊĢĤóŬņħûĥöïƇĮġàĬæĻŖĬĥêōģêƥŌöùóŎûħőƑĹĥöûðŊêƉƑĬõêĭïĬġïƇ ĮŖĬåƊĬġħûĥáƣĮùĠĚïƇŁħĜúáƣʼnőƇŌġïƇƣƗŌĜúïƇň÷ðƊƇƏƇĹêƅƣƊĬðŌæƑƣĿñōģêĭïĬġïƇƥŌöùó ĮĦàĬęĤïƇƊƇƑŌęĥĤïƇƣƃĮħĤóĹġöïƇƖƣĻĞïƇƣƃƊƇĹĥöûĤïƇŃħĤãŎìĻĦĝáơƃŎìĭëĻáŎöïƇƣŴƗĬĤñƃƣ ĮħðŌħïƇƊĬùĠŖƣƃňĤĞĤïƇĻóƑĬġáƣƃĭïĬĜïƇƈĬöîĻóƑĬġáŎìƊĬĤģĢïƇĮøïĬĞðĭïƇŌíƠƇĹúöæƇŊĢĤóƣ ĽĠñĬĦïŎöïƇƊƇĹĥöûĤïƇŊðĬòĻħëƣƃƊƇƑĬõöåŬƇƣƃƊƇĻîĺĤïƇƣƃĮûóƣĻöïƇƊƇĹĥöûðƣƃƓƑĹïƇŁĜåƣƃ Ŏ ƑĬèƅĮàĬ÷ĤàƑŌęĥĤïƇƣƃŎĤóĹġöïƇƖĻĞïƇňĤĞóơƃŊĢĤóŴĮõëĻïƇĹĥêƣƦ ƇƑƇĻĢáƣƦ ƇƑƇĻðƠĹúöûáƣņħûĥöïƇ ŃðňĤĞïƇĻèƃƠƇĹúöæƇŊðƟŭíůƇŎğõĥóŋñƃŬƅʼnĦáĬêƣĻęðƂĬęñƅƂĬĥâƃƈŭĜïƇŃħĤãƏĬçƑůňĤê ƈŭĜïƇĮêƇĻàƉƏĬóƒ ĮġóĻĜàŅģĤïƇłĠäʼnöóŋñƃŬƅŴĻåǡŅģðƥƃƂĬęñƅŎìĮðĹúöûĤïƇĮġóĻĜïƇĽĠĥàĭïĬġïƇƂĬęñƅʼnöóƣ ƅ Ʀ ĬõïĬíŋĥðňĞøáĮĥħĞð ŇĥĢĤóƣ ƊĬðŌģĞĤïƇ ĮàĬöĢï ĮĚĚúð ƊĬäĬûð ŋàƣ ʼnĝĥð Ĺĥöûð Ŋê ƉƑĬõê ŌĦì ƌƐŌĤĥïƇ Ĭðƃ ŎáƇĺïƇňðĨöģïƊƇĹĥöûðƣƃƉļãŌðƊĬñĬùöðƇƣƃƊƇƑĬõöåƇƣƃĮĞóĻæƊĬĤħħġáƂĬęñƅĹĥêƌƐŌĤñƠƇĹúöæƇ ƟŌġäƠĹúöûóƥĺïƇĹĥöûĤïƇĭæĬĥóŬƣĻáŌħõĤĢïƇƠƇĹúöæĬàƈŭĜïƇĬĦģĤĢóƜŌæƊƇƂĬöĠöæƇƣƃ ŎìňåĹĤïƇĿĥïƇơĶĮħĤæƑƊŭæƇĻðƊƇĹĥöûðơŌôęĥóƣƃƊƇƏŌûðơŌõöĢóŊóĺïƇƈŭĜïƇŃðƌƐŌĤĥïƇ ŎőŭðůƇņħíĹöģïŃěúóŬƌƐŌĤĥïƇƟŌġäĹäƃ ĮäŌöĠĤïƇįñĻöñůƇŃíƇŌðƠƇĹúöæƇƦ ĬěóƃŇĥĢĤóŴƗĬęĥïƇƇĺòƂĬĥâƃĭïƇŌíƣƌƐĬĤñīęĥáŇñƃŊðʼnëĻïĬàƣ ƈŭĜïƇʼnêĹïƊĬñƣĹĤïƇƣ ōģê ƉƏŌãŌĤïƇ 0RGXOH $FWLYLW\ Ĺģøð Ŏì ƊƇĹĥöûĤïƇƣ ƌƐĬĤĥïƇƣ ĭïƇŌġïƇ Įģ÷ðƃ ƖĻĞöæƇ &XUULFXOXP5HVRXUFH ıðĹĤïƇƕĻġïƇ
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ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ōĪĦġöĦï ŌöñƊĵðİñĿà ŶŵƑƇĹŖůƇƊĬħæĬæĶƇƉƑƣƏ
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ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ŋģóĹĞáƣƃĹĥöûðƂĬęñůŎáƇĺïƇŋħãŌöïƇʼnħħġáŊðƉƐŌåĨĤïƇĮïƏĶƇƠĹúöæƇŒæƌƖĽïƌŌĝģĦïIJùĪĝñ ƈŭĜïƇʼnģĞáʼnêĹï ŇàĮŖĬúïƇƈŭĜïƇʼnêƏƏƇŌðŎìĬĦĥħĤěáŎìĭëĻáĹíƑĬĢìƃĮóƃơƣƏ
ŒŖİóĿïƌĿĪĥģöïƌōêƔŻƎŐğúïƌ Ŏì ĮħŒĬóƑ ʼnħòĬĠð ŊħĤěá Ŏì ĻĢì ŴƊƇĹĥöûĤïƇ Ŋð ĬòĻħë ƣƃ ƌƐĬĤñ ƣƃ ĭïƇŌí ƂĬęñĪà įĤí ƂƇŌæ ıĦĥĤïƇƑƇĹðōģêƊĬħŒĬóĻïƇʼnģĞáʼnêĹïŴƠĬêŋãŌàƉĹäŌïƇŎìƣŴŇàĮŖĬúïƇʼnêĹïƇƊƇĹĥöûð ƝƇƑƣƃĮõħġäŎìĮħïĬöïƇƑĬĢìĶƇŊħĤěáĮħĠħîŎìĻĢìƇĺïʼnģĞðňîĮħïŌôûðƊĬħŒĬóĻïƇʼnģĞáĻõöĞó ƊĬħŒĬóĻïƇƉƏĬðŎìŇàŭèňħĚùáƤŌöûðŊħûùöïƉĹäŌïƇ ƝŌûïƇňħģùáƣĮħñƇļħĤïƇƣňóŌĤöïƇƣĮõæĬùĤïƇƣĮħñĬħõïƇƠŌæĻïƇƣƊĬĜħĜúöïƇ IJóƖİøöïƌƤİħêĺƌ ƊƇƑƣĹïƇƣ
ĻóĹġöïƇƣƑŌûĢïƇƣĮæĹĥĦïƇƣʼnæĻïƇƓĬħġðŃŒƣƣƓĬħġïƇ IJĪêİĨĝïƌƦŐĨģïƌ
ĻĞęģïŎőĬĥõïƇňħģùöïƇƣŊóŌĢöïƇƣơƒŌïƇƣƗĬĤñĶƇƣƊĬĦãŌöïƇƣĮħĥðļïƇƊĬĜĜúĤïƇ IJĢĦïƌƍƌƔƇ ĿħúģöïƇƣŊŚƟĬĢçƃƣņĜĥĤïƇƣĮħĤíĻïƇĮóļðĻïƇƣĮħĥĠïƇƣĮħģħģùöïƇĮàĬöĢïƇƣĮĤĝñĶƇƣ
ĮħġħæŌĤïƇƊĬðŭĞïƇƣƊĬĚíĻïƇŅħïĨáƣơƒŌïƇƣƙĬġóůƇƣĮîĻùïƇ
IJĪŕƌƔĺƌƦŐĨģïƌƨőĤĪæŐħïƌ
ĮêĻûïƇƣƊĬħőĬĚäůƇƣĭĞģïƇƊĬħøħáƇĻöæƇƣĮíĬħģïƇƣƜƇĹòĶƇňħøûáƣĮîĻùïƇIJĪŖİóĿïƌIJĪàĿöïƌ ĮħñĬħõïƇƠŌæĻïƇƣƊĬĜħĜúöïƇƣƌƐĬĤĥïƇƣƊĬñĬħõïƇŃĤãƣ
ĮħñĬħõïƇ ƠŌæĻïƇƣ ƊĬĜĜúĤïƇƣ ƉĹäŌïƇ ňóŌùáƣ ƉĹäŌïƇƣ ƊĬõħîĻöïƇƣ ƙƑĬûöïƇƣ ĮêĻûïƇ ƥŐĦġïƌ ƊƇƑƣĹïƇƣŊðļïƇƣʼnĝĥïƇƣƊĬèĬġæůƇƣĮõïŌġïƇƣĮæĹĥĦïƇƣĬĦģħģùáƣƊĬñĬħõïƇŃĤãƣ
ƊĬĜĜúĤïƇƣŁőƇĻúïƇƉƂƇĻíƣĬħìƇĻğøïƇƣƊĬòĬøáŬƇƣĮħĥðļïƇƊĬĜĜúĤïƇIJĪêİħöãůƌƏİæƌƖĽïƌ ƏĬĚöíŬƇƣơĬĢûïƇƊĬæƇƑƏƣĮģĤĞïƇňóŌùáƣĮħïĬĤöäŬƇƣƊĬħőĬĚäůƇƣƟƣƇĹøïƇƣĮħñĬħõïƇƠŌæĻïƇƣ ŊðļïƇƣĮħúóƑĬöïƇƊĬñĬħõïƇƣʼnĝĥïƇƣ
ƟŌģùïƇƣ ƗĬĤñĶƇƣ ƓĬħġïƇƣ ņæĬĥöïƇƣ ĭûĥïƇƣ ĮħæĹĥĦïƇ ƑŌûĢïƇƣ ĮæĹĥĦïƇ IJĪŕĿħïƌ ƦŐĨģïƌ ŁæŌïƇ
ĬĥòƞƑĬĢìƃňøæƣŇáĹäƣŎìƊĬħŒĬóĻïƇŊħĤěáĬĦàŇĥĢĤóŎöïƇƝĻĜïƇŀĞàŎìĻĢì
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ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ıïİğïƌōêƔƖĽĝðƆİĜñƊżƎŐğúïƌ ż ƂĬĥâƃ ʼnĦĤģĞá ʼnêĹï ƈŭĜïƇ ŋà ŊħĞöûó ƑĹĚð ƂĬęñů ĮħïĬöïƇ ƊƇƑĬħúïƇ Ĺäƃ ƉŌĜúïƇ Ƣĺò Ŏì ƑĬöúá ƉĹäŌïƇ ŶŹŻ ĮùĠŖ ĹĥöûðƂĬęñƅ ŶźŻ ĮùĠŖ ĹĥöûðĭïĬíƂĬęñƅ ŶźŻ ĮùĠŖ ŎĤóĹġáƖĻêĭïĬíƂĬęñƅ ŶŻŻ ĮùĠŖ ƌƐŌĤñƂĬęñƅ ŶŻŻĮùĠĚïƇ ĭïĬĜïƇʼnêƏƑĹĚðŎìŎŒĬóĻïƇĻħĢĠöïƇŊħĤěá
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ƠĬĦĤģïƈŭĜïƇƒĬøñƅĹĥê ĴģĠğÚ ƕĻìƍĬöáŴĻáŌħõĤĢïƇƠƇĹúöæĬàĮóƏĻĠïƇ
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ĻĢìƇĺïƣʼnĦïʼnêĹïƇʼnóĹġöïƉĹóĹã
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ĮħŖĬúïƇƢĺòŊðƉƏĬĠöæŬƇĮħĠħîŎì
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ĻáŌħõĤîƒĬĦãĻìŌáŎöïƇƟŌĚĠïƇŎì ŇàĮŖĬúïƇĭïĬĜïƇ
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ŵŹŻ ĮùĠŖŎìƉƏƑƇŌïƇƊƇƑĹġïƇŎĠģöúðƈŭĜģïĽóƑĹöģïŃàƑĶƇơŌûĥħģðŌáƝĻèŎìĻĢìIJĠäŰð ĭïĬĜïƇʼnêƏƑĹĚðƂĬęñƅĹĥê
ĽĨöûðƆİĜñƊźƖİĪúïƌ ƉĹêĬûĤïƇňħïƏŊðƊĬĤģĢïƇĮøïĬĞðʼnûíĻĝñƇ ĹĥöûĤïƇƂĬęñůƊĬĤģĢïƇĮøïĬĞðıðƇĻàƠĹúöæƇ
ƊƇƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ƉĹêĬûĤïƇňħïƏŎìĮħïĬöïƇ
ŇàƕĬúïƇƝƇƑƣĶƇĮõħġäĹģøðŎì XQLWBVXSSRUWW ĹģøðŎìĹĥöûĤïƇłĠäƇ
ʼnûġïƇƇĺĦàƕĬúïƇ
ƩĿåƈIJĪħĪħĝáŃŕİĝåIJìİŖƊ
ĮøïĬĞðƊĬêŌĤøð
Ŏì ĬĦĥħĤěá Ŏì ĭëĻá Ĺí ŎöïƇ ņħûĥöïƇƣ ʼnħĤĚöïƇ ĿőĬĚå ƙƇŌñĶ ĮħìĬŒůƇ ƑĬĢìĶƇ Ŋħà Ŋð ĻöåƇ ƊƇƑĬĦĤïƇŊðƥƃƟĬĤĢöæƇŎìƉĹêĬûĤïƇōïƅįøöäƇƇƐƅƉĹêĬûĤïƇňħïƏƠƇĹúöæƇŇĥĢĤóƣƞĹĥöûð ƢĬñƏƃƉƏĹùĤïƇĮħãŌïŌĥĢöïƇ
ŶŷŶƊĬĤģĢïƇ ŶžƊĬðŌæĻïƇƉƑĬĦð ĮġóĻĜàƊĬĤģĢïƇĮàĬöĢï :RUG$UW ƠƇĹúöæĬàĮħĥì ƊĬĤģĢïƇĮøïĬĞðĮêŌĤøð
ƊĬġħģĞáƣƃĿñĮìĬŒƅŇĥĢĤóŴĻõîƃƉƑŌĚàƞĹĥöûðķħŒŌöï ŎìĻåƒʼnæƑĮôħòōģêĿñƌƇƑƏƅ ŶžƊĬðŌæĻïƇƉƑĬĦðĻĝñƇ ŊóƣĬĥĞïƇōïƅƊĬðŌæƑĮôħòōģêĮŖĬå
ż ż ƊĬĤģĢïƇĮøïĬĞðĮêŌĤøðĻĝñƇ ƟƣĹãņħûĥá
ŅģöúðƂĬęñůƟƣĹøïƇŎìƉƏƑƇŌïƇƊĬðŌģĞĤïƇƠƇĹúöæƇŇĥĢĤóƟƣĹãƠƇĹúöæĬàŎñĬħà ʼnæƑƂĬęñƅ ŷŽƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ĮħñĬħõïƇƠŌæĻïƇƙƇŌñƃ Ž
ōģêƥŌöùóƥĺïƇƟƣĹøïƇƖĻêơƣƏʼnæƑƂĬęñƅŇĥĢĤó ƟƣĹãƠƇĹúöæƇơƣĹàŎñĬħàʼnæƑƂĬęñƅ ŶŽ Ž ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ĮħģŖĶƇƊĬñĬħõïƇ
ĻħħğáƣƊĬñĬħõïƇʼnħĝĥáĮġóĻèĻħħğáƣŊóƣĬĥĞïƇĮìĬŒƅƣŁĜúĤïƇƙŌñĻħħğáŇĥĢĤóŁĜúðņħûĥá ŽƊĬĤģĢïƇĮøïĬĞðĮêŌĤøðĻĝñƇ ƗĬĤñĶƇƣơƇŌïĶƇ Ž
ƠƇĹúöæĬàňĤĞģïż ƟƣƇĹøïƇ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ŎñĬħàʼnæƑƂĬęñůŷŽ ƟƣĹãƠƇĹúöæĬà ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ŎñĬħàʼnæƑƂĬęñůŶŽ ƟƣĹãƠƇĹúöæƇơƣĹà ƊĬĤģĢïƇĮøïĬĞðĮêŌĤøð ƠƇĹúöæĬàňĤĞģïŽ ƠŌæĻïƇƣƊĬĜĜúĤïƇ ĮħñĬħõïƇ
ĮùĠŖňîōģêƃƊĬùĠĚïƇƠĬíƑƃƣĸóƑƇŌöïƇƣŊóƣĬĥĞïĬîƦ ĬĚñŃŒĬĦáŭħóĺáƣƊĬùĠĚïƇƓƣƄƑĮìĬŒƅ ŶŻŻƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ĹĥöûĤïƇƊĬùĠŖŊðĬĦģĠæƃƣ
ĮùĠĚïƇʼnøäŇïĺîƣľðƇŌĦïƇƊƇƏƇĹêƅōģêƊƇĻħħğáĮóƃƂƇĻãƅŇĥĢĤóĮùĠĚïƇƊƇƏƇĹêƅĻħħğá Ż ƊĬĤģĢïƇĮøïĬĞðĮêŌĤøðĻĝñƇ ĬĦħìĮðĹúöûĤïƇĭħïĬæĶƇƣĬĦĜħĜúáƣ
ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ƊĬðŌģĞðĮìĬŒůŶŻŻ ƊĬùĠĚïƇōģêƃŎìƉƑĻĢð ƓƣƄƑĮìĬŒůƣƃĬĦģĠæƃƣ ĬĦáŭħóĺáƣƊĬùĠĚïƇ ƊĬĤģĢïƇĮøïĬĞðĮêŌĤøð ƊĬùĠĚïƇʼnħĤĚöïŻ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ōĪĦġöĦï ŌöñƊĵðİñĿà ŶŵƑƇĹŖůƇƊĬħæĬæĶƇƉƑƣƏ
ųŶŸ
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ŎìĮħïĬöïƇƊƇƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ʼnûġïƇƇĺĦàƕĬúïƇƉĹêĬûĤïƇňħïƏ Źź ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ƣƃƊĬĤģĢïƇƈĬħûñƇĮġóĻèĻħħğöï ƉƑŌŖƟŌäĬĦìĬĠöïƇ Ŷŷź ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ňĤêĮíƑŌïĮħĠģåƉƑŌŖĮìĬŒů ĮħőĬðĮðŭêƣƃ ŶŸź ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ƉƑŌŖōïƅƉƏŌãŌðƉƑŌŖňóŌùöï ĮħőĬðĮðŭêƣƃĮöòĬàĮħĠģåƊƇƐ ŶŶŵ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ĹĥöûðŎìƠŌħïƇĸóƑĬáĮìĬŒů ŶŶŶŵ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ĹĥöûĤģïŎőŭðƅņħíĹáƂƇĻãů
ĹġìĮĠģöúðƝĻĜàƊĬðŌæĻïƇŃðĿĥïƇňêĬĠöóơƃŊĢĤóƐƅ ŴƑŌĚģïĿĥïƇƜĬĠöïƇĭħïĬæƃĻħħğá ƉƑĬĦðĻĝñƇ ĬĦģĠæƃƣƉƑŌĚïƇōģêƃŬƅĻĦĝóŬƣƃĬĦĠģåƣƃĬĦðĬðƃĻĦĝóƣƃƉƑŌĚïƇƟŌäĿĥïƇŅöģó ŹźƊĬĤģĢïƇĮøïĬĞð
ŅħĠúáʼnöóƣĿĥïƇŅģåįìĬåŌùñōģêĻĦĝóŎĠģåʼnæƑŊêƉƑĬõêŎòƣĮħőĬðĮðŭêƂĬęñƅ ŶŷźƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ĿĥïƇŃðňåƇĹöáŬōöäƉƑŌĚïƇ
Ŏì ňĞĠïĬà ƉƏŌãŌð ƉƑŌŖ ƠƇĹúöæƇ ĮħőĬð Įðŭê ōïƅ ƊƇĹĥöûĤïƇ Ĺäƃ Ŏì ƉƏŌãŌð ƉƑŌŖ Ļħħğá ŶŸźƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ĮħőĬðĮðŭĞîƞĹĥöûð
ʼnöóƉĻðňîŎìĸóƑĬöïƇİóĹùáŊĢĤóŴĸóƑĬöģïŎőĬġģáňġäƟĬåƏƅĹĥêĸóƑĬöģïŎőĬġģáňġäƟĬåƏƅ ŶŶŵƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ŋģóĹĞáƣƃĹĥöûĤïƇŃõèĬĦħì
ƊĬĤģĢïƇ ĮøïĬĞð ıðƇĻà ı ʼnĝĞð ƥĻøá ƥ ĮóŌùĥïƇƣ ĮħőŭðůƇ ƂĬĜåĶƇ ķħùĚöï ķ Ĭð Ĺĥöûð ņħíĹá ňħğęáƜĬġóƅʼnöóʼnïĬðŴƥŌùĥïƇņħíĹöïƇơĬħäĶƇŀĞàŎìƣŎőŭðůƇņħíĹöïƇŇöàĬöîƂĬĥâƃƦ ĬħőĬġģá ĬĦñƃōïƅĻħęħïĬðĮĤģîňĠæƃƌĻĞöðĻĤäƃŁåĻĦĝóıðƇĻõïƇƢĺòʼnĝĞðŎìƣĮħŖĬúïƇƢĺò ĬðĮģĤãƣƃƉƑĬõêƣƃĮĤģîňĠæƃƌĻĞöðĻěåƃŁåĻĦĝóŊħäŎìıðĬñĻõïƇƓŌðĬíŊĤŒįûħï ņħíĹöïƇƊƇƣƏƃĹêĬûáŴƊƇƏĬçƑůƇƣƊĬĤħģĞöïƇĭñĬãōïƅƣĮģĤöùðĮóŌùñĮģĢęðƏŌãƣōïƅĻħęħï ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ʼnĦáĬàĬöîĻóĻùáƣʼnĦöàĬöîƂĬĥâƃƈŭĜïƇʼnêƏōģêƥŌùĥïƇƣŎőŭðůƇ ŶŶŶŵ
ĽĨöûðıïİíƆİĜñƊŻ ƖİĪúïƌ
ņûĥĤģïĮħĦħãŌöïƇƊƇƏĬçƑůƇŃõáƇ ĹĥöûðłĠäĮħĠħîƟŌäŇàƕĬúïƇ
ĹĥöûðƂĬęñůŶ ƑĬħúïƇŎìĬĦħïƅƑĬęĤïƇʼnħĤĚöïƇĿőĬĚåŊðƦ ĬóƃƠĹúöæƇ
ź
ĻĝñƇ ŇàƕĬúïƇƝƇƑƣĶƇĮõħġäĹģøðŎìXQLWBVXSSRUWĹģøðŎìĭïĬíĮôħòōģêƞƑŌęĥðłĠäƇ W ŹŶŵ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð
Ż
ĭïĬíĮôħòōģê ŎìĮħïĬöïƇƉƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ʼnûġïƇƇĺĦàƕĬúïƇƉĹêĬûĤïƇňħïƏ ŹŶŵ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ƣƃĹĥöûðŁĤñƠƇĹúöæƇƣƂĬęñƅ
ŒħóĽĤáƛĿêıïİíƆİĜñƊżż ƖİĪúïƌ
ŇàƕĬåĭïĬí
ŇĥĢĤó ŴĭïĬè ƌƐŌĤĥï ŎĤóĹġá ƖĻê ŇóĹï ĻìƇŌá ƇƐƅ ƣƃ ĹóĹã ĭïĬí ƂĬęñƅ ƑĬħúïƇ Ƈĺò Ŏì ŇĥĢĤó ĭïĬíƂĬęñůƓĬæĨîŋðƇĹúöæƇ
ŎìĮħïĬöïƇƉƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ʼnûġïƇƇĺĦàƕĬúïƇƉĹêĬûĤïƇňħïƏ
ŇïƐĻðĶƇƠļïƇƐƅŴƉĹêĬûĤïƇňħïƏŎìƉƏĹĞöĤïƇŁőĬæŌïƇʼnûíōïƅŃãƑƇ
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ƕĬúïƇƝƇƑƣĶƇĮõħġäĹģøðŎì XQLWBVXSSRUWW ĹģøðŎìĭïĬíĮôħòōģêŎĤóĹġöïƇŇŒĻêłĠäƇ źŹƉƏĹĞöĤïƇŁőĬæŌïƇƉƑĬĦðĻĝñƇ Ňà
Ż
źŹ ƉƏĹĞöĤïƇŁőĬæŌïƇƉƑĬĦð ƖĻêŁĤñƠƇĹúöæƇƣƂĬęñƅ ŇàŊħŖĬåŋïĭïĬíƣƃŎĤóĹġá
ųŷŸ
ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ƑƕŐħñƆİĜñƊŽƖİĪúïƌ ĮħĚñ ƊĬĞàĻð ƂĬęñƅ ŊĢĤóƣ ƊĬðŌģĞĤïƇ ƟĬåƏů ĮĚĚúð ƊĬäĬûð ŋà Ĺĥöûð Ŋê ƉƑĬõê ƌƐŌĤĥïƇ ŎìƉĹêĬûĤïƇōïƅįøöäƇƇƐƅƉĹêĬûĤïƇňħïƏƠĹúöæƇŇĥĢĤóƣĮïĹûĥðʼnőƇŌíƣƑĬħöåƇƊĬñĬåƣĮôõĞöģï ƢĬñƏƃƉƏĹùĤïƇĮħãŌïŌĥĢöïƇƊƇƑĬĦĤïƇŊðƥƃƟĬĤĢöæƇ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ƌƐĬĤĥïƇƂĬęñĪàƕĬúïƇƊƇƣƏĶƇŁóĻçķöìƇƌƐŌĤñƂĬęñƅŎìƂĹõïƇ ŶŵŶŵ
ź
ōïƅ ƊĬðŌģĞĤïƇ ŋħì ƂƇĻġïƇ ňåĹó ơƃ ĭëĻá ƥĺïƇ ŃŒŌĤïƇ Ŏì ƦŬŌġä īęñƃ ƌƐŌĤĥïƇ ƟŌġä ƟĬåƏƅ ŶŵŶŵ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ŇàƕĬúïƇƌƐŌĤĥïƇ
Ż
ŋöóĬĤäŇħģêĭøóŴŋïĬĤĢöæƇƣŋáĹòĬęĤàơŌðĹúöûĤïƇƠŌġóƌƐŌĤñŃóƒŌáňõíƌƐŌĤĥïƇĮóĬĤä Ơ ƌ Ń ƌ ʼnġáʼnïƇƐƅŇïĺïĮĚĚúĤïƇƊĬìĬûĤïƇŎìŬƅƊĬðŌģĞĤïƇƟĬåƏƅŊħðĹúöûĤģïƍĬöóŬİħùàƦŬƣƃ ƉƑĬĦðĻĝñƇ ƑĬħöåŬƇƊĬñĬåƣĮïĹûĥĤïƇʼnőƇŌġïƇň÷ðƌƐŌĤĥïƇĻŖĬĥêňĤĞáŊģìƌƐŌĤĥïƇĮóĬĤùà ŶŵŶŵ ƊĬĤģĢïƇĮøïĬĞð
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ŇàƕĬúïƇƝƇƑƣĶƇĮõħġäĹģøðŎì XQLWBVXSSRUWĹģøðŎìŋĥðƂĬĦöñŬƇĹĥêƌƐŌĤĥïƇłĠäƇ W
Ž
ņûĥĤģïĮħĦħãŌöïƇƊƇƏĬçƑůƇŃõáƇ ƂĬęñƅĮħĠħîƟŌäŇàƕĬúïƇ ƌƐŌĤñ
ŎìĮħïĬöïƇƉƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ʼnûġïƇƇĺĦàƕĬúïƇƉĹêĬûĤïƇňħïƏ ŶŵŶŵƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ƌƐŌĤñƂĬęñů
ıïİğïƌōêƔƖĽĝðŒìŒŖİóĿïƌĿĪĥģöïƌŎĪħĞáƖĽĝħïƌŀóŀġá ňħïƏƠƇĹúöæƇŇĥĢĤóƣŇáĹäƣƏƇŌðŊðƥƃŎìŎŒĬóĻïƇĻħĢĠöïƇŊħĤěöïĮħïĬöïƇĿőĬĚúïƇƠĹúöæƇ ƢĬñƏƃƉƏĹùĤïƇĮħãŌïŌĥĢöïƇƊƇƑĬĦĤïƇŊðƥƃƟĬĤĢöæƇŎìƉĹêĬûĤïƇōïƅįøöäƇƇƐƅƉĹêĬûĤïƇ ƣƃ ĮïƏĬĞĤģï ƊƇƣƏƃ ŁóĻç Ŋê ƉƑĬõê Ŏòƣ ƊŬƏĬĞĤïƇ ƂĬĥà HTXDWLRQ EXLOGHU ĮħŖĬå ƠƇĹúöæƇ ň÷ðƒŌðƑƟĬåƏƅķħöáƑƇƑƒƃōģêƥŌöùóĮğħĚïƇ
ƊƇƣƏĶƇŁóĻçŊðƒŌðƑĹóĹùáƟŭåŊðńħŖƣƃƊŬƏĬĞðƂĬĥàŇĥĢĤóĮħŖĬúïƇƢĺĦàĮñĬĞöæŬĬàƣ ń ĮïƏĬĞĤïƇƂĬĥàƂĬĥâƃƦ ĬħőĬġģáņħûĥöïƇƣĮäĬûĤïƇƣŁúïƇƠĬøäƃŁõŒʼnöóƣƠĬíƑĶƇƣƊƇĻħğöĤïƇĮàĬöîƣ ŶŸŶŵƊĬĤģĢïƇĮøïĬĞðƉƑĬĦðĻĝñƇ ĮğħĚïƇƣƃ
ŎìĮħïĬöïƇƊƇƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ʼnûġïƇƇĺĦàƕĬúïƇƉĹêĬûĤïƇňħïƏ ƊĬĤģĢïƇĮøïĬĞðƉƑĬĦð ƑĻùðĮħŖĬåƠƇĹúöæŬŶŸŶŵ
ʼnħòĬĠðƊƇƐƑĬĢìƃķħŒŌöïƊĬĜĜúĤïƇŊðĮêŌĥöðĮêŌĤøðĮìĬŒƅŇĥĢĤó ŁĜúðƥƃƂĬęñƅ ŎģóĬðƊĬĜĜúĤïƇƙƇŌñƃŊĤěöáƣ ž ƊĬĤģĢïƇĮøïĬĞðĮêŌĤøðĻĝñƇ ĮêŌĥöð ĮħðĻĦïƇƊĬíŭĞïƇƑĬĦéůĮħĤħĝĥáƊĬĜħĜúá
ƉĻĤöûðƉƑƣƏƊƇƐĮħģĤêƑĬĦéůĮóĻőƇƏƊĬĜĜúð
ĬðƉĻĢìƣƃŎæĬæƃĻĚĥêƊĬíŭêƑĬĦéůĮħêĬĞçƅƊĬĜĜúð
ƓĬæƃōģêĹĥöûáƊĬíŭêƑĬĦéůĮħðĻòƊĬĜĜúð
ĻŖĬĥĞïƇŊħàňåƇĹöïƇŎäƇŌñƑĬĦéůŊŚƊĬĜĜúð
ĬðƜĹòņħġùöïĮðƒŭïƇƊƇŌĜúïƇƑĬĦéůƜĹòƊƇƐƊĬĜĜúð
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ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ōĪĦġöĦï ŌöñƊĵðİñĿà ŶŵƑƇĹŖůƇƊĬħæĬæĶƇƉƑƣƏ
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ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ŎìĮħïĬöïƇƊƇƑĬĦĤïƇōïƅƙŌãĻïƇōãĻó ʼnûġïƇƇĺĦàƕĬúïƇƉĹêĬûĤïƇňħïƏ ŊóŌģáŷƊĬðŌæĻïƇĮêŌĤøð ƗŌĜúïƇƣƟĬĢçĶƇ ŶƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ƊĬñĬħõïƇƟƣƇĹãōģêƜĻĞöïƇ ĹóĹùáŷƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ƉĹĤêĶƇƣƜŌĠĚïƇƣĬóŭúïƇ ĻħħğáźƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ňĤĞïƇƝƇƑƣƃƣƊĬðŌģĞĤïƇňĢç
ĮøïĬĞĤïƇƊƇƣƏƃƣƗĬĤñĶƇƣƟĬĢçĶƇŊðĹóĹĞïƇƂĬęñƅŇĥĢĤóĮøïĬĞðƊƇƣƏƃƣƗĬĤñƃƣƟĬĢçƃƂĬęñƅ ƉƏĻøĤïƇƣƃƉĹġĞĤïƇƑĬĢìĶƇʼnĦìōģêʼnĦáĹêĬûĤïĬĦðƇĹúöæƇƣĬĦáĹòĬęðŇàŭĜïŊĢĤóŎöïƇ ƈĬûäʼnħģĞáƌƐĬĤñƣƃĻõøïƇƣƃĮħùħŒŌöïƇƊĬíĬĜõïƇŎìƟĬĢçĶƇƢĺòƠƇĹúöæƇņħõĜáŊĢĤó ƗĬĤñĶƇƣƟĬĢçĶƇĮìĬŒƅŊĢĤóƣĮġàĬĜĤïƇƊƇƣƏƃƣƑŌĚïƇƣƃƊĬĤģĢïƇƣƃơƇŌïĶƇŅóĻĞáƣŴƑŌûĢïƇ ŷƊĬðŌæĻïƇĮêŌĤøðĻĝñƇ ƊĬĠģĤïƇƙƇŌñƃŊðƙŌñƥƃōïƅĮøïĬĞĤïƇƊƇƣƏƃƣ
ƊĬñĬħõïƇ ŃĤã ōģê ƈŭĜïƇ ĹêĬûá ƉĻâĩð ƊƇƣƏƃ ƊĬñĬħõïƇ ƟƣƇĹã ĹĞá ƊĬñĬħõïƇ ƟƣƇĹã ƠƇĹúöæƇ ƖĻêƣ ƊĬêŭĜöæŬƇ ıőĬöñ ʼnħħġáƣ ƊƇĻħğöïĬà ĩõĥöïƇƣ ĮħĞíƇŌïƇ ƉĬħùïƇ ƊŭĢęð ňäƣ ĬĦģħģùáƣ ƊĬĥőĬĢïƇ ƒĻìƣ ĬĦï ĮħñĬħà ƠŌæƑ Ơ ŃŒƣƣ Ń ĮĠģöúĤïƇ ƊĬòĬøáŬƇ Ńõöáƣ Ń ƊĬġħûĥöïƇ ŅģöúĤà ƊĬñĬħõïƇ Ʀ Ĭĥæ ĻğŖĶƇ ƈŭĜģï ŊĢĤóƣ ƤĻåĶƇ ƊĬðƇĹúöæŬƇ Ŋð ĬòĻħëƣ ŴƊĬðŌģĞĤïƇ ʼnħĝĥáƣ ĬĦĠħĥĚáƣ ĬĦģħģùáƣĬĦïĬåƏƅƣʼnĦáĬñĬħàŃĤøïơŌĤģĞĤïƇĬòĨęñƃŎöïƇƊĬñĬħõïƇƟƣƇĹãĭïƇŌíƠƇĹúöæƇ
ŸƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ňĤĞïƇƝƇƑƣƃƠƇĹúöæƇ ĮìĬŒƅŹ ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ĬĦðƇĹúöæƇƣƊĬðŌģĞĤïƇ ŻƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ƊĬðŌģĞĤïƇʼnħĝĥá ƂƇĻãƅżƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ĮħàĬûäƊĬħģĤê ƂĬęñƅŽƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ƊĬĜĜúð žƊĬñĬħõïƇƟƣƇĹãĮêŌĤøð ňĤêƝƇƑƣƃĮêĬõè
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ʼnģĞáŊðƒļĞáŎöïƇĿőĬĚúïƇŊðĹóĹĞïĬàƊĬñĬħõïƇƟƣƇĹãļħĤöáƊĬñĬħõïƇƟƣƇĹãōģêƜĻĞöïƇ Ŷ ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ ƈŭĜïƇ
ƑĬħöåƇƦŬƣƃŇħģêĭøóŴƢƇŌöùðƣƃƊĬñĬħàƟƣĹãňĢçĻħħğöïƉĹĤêĶƇƣƜŌĠĚïƇƣĬóŭúïƇĹóĹùá ŷ ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ ƢĻħħğáŎìĭëĻáĬð
ĬóŭúïƇƣŁúïƇƠĬøäƃĻħħğáƣƑŌŖƣƏƣĹäƣơƇŌïƃĮìĬŒĪàňĤĞïƇƝƇƑƣƃƣƊĬðŌģĞĤïƇňĢçĻħħğá ź ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ
ĬĦĜàƑƣĬĦúûñƣĬĦöħĤûáƣĬĦģġñƣĬĦìĺäƣňĤêƝƇƑƣƃĮìĬŒƅŇĥĢĤóňĤĞïƇƝƇƑƣƃƠƇĹúöæƇ Ÿ ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ
ƊĬñĬħõïƇƙƇŌñƃŅģöúðĮìĬŒůƊĬñĬħõïƇƟƣƇĹãƠƇĹúöæƇĬĦĞðňðĬĞöïƇƣƊĬðŌģĞĤïƇĮìĬŒƅ ŹƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ ĬĦĞðňðĬĞöïƇƣ
ĮêŌĤøðĻĝñƇ ĬĦĤħĝĥáƉƏĬêƅƣĬĦģġñƣĬĦìĺäƣƊĬðŌģĞðĮìĬŒƅŇĥĢĤóƊĬðŌģĞĤïƇʼnħĝĥá ŻƊĬñĬħõïƇƟƣƇĹã
ĮĜħûõïƇĮħàĬûùïƇƊĬħģĤĞïƇƂƇĻãƅŎìĮĤħíƉƇƏƃƊĬñĬħõïƇƟƣƇĹãĻõöĞáĮħàĬûäƊĬħģĤêƂƇĻãƅ ż ż ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ ƉĹġĞĤïƇƊŬƏĬĞĤïƇƣńħĚïƇƠƇĹúöæƇŎìƣ
ĬĦĥĤěöáŎöïƇƊĬðŌģĞĤïƇƠƇĹúöæƇƊĬñĬħõïƇƟƣƇĹãŇïķħöáĮħñĬħàƠŌæƑƣƊĬĜħĜúáƂĬęñƅ ƟƣƇĹãĮêŌĤøðĻĝñƇ ŇáĬãĬħöäƇĮħõģöïĬòĻħħğáƣĮħñĬħàƠŌæƑƣƊĬĜĜúðƂĬęñůňĤêĮíƑƣ Ž Ž ƊĬñĬħõïƇ
ŎġìƃƣƃƥƏŌĤêňĢęàƂƇŌæĬĦģîƣƃňĤêĮíƑƣŊðƂļãĮêĬõèŇĥĢĤóňĤĞïƇƝƇƑƣƃĮêĬõè ž ƊĬñĬħõïƇƟƣƇĹãĮêŌĤøðĻĝñƇ
ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
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ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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ĮġħíƏŸŵ ƢĸÞƁƇĸéŋÚĶÝơīĘÞīĚÜƅĸéŶ ƕĩĕġèƅ ĮĜåƟĹĞáƣŴĮħĤħģĞöïƇƊƇƂƇĻãůƇƣʼnħħġöïƇĿúģðŎĤûġïķħġĥöïƇŊðƦ ƇĹóļðƗĬęĥïƇƇĺòƟŭåƤĻøá ĽóƑĹöïƇƝĻèŊðƙŌĥáƣƈŭĜïƇŃħĤãƤĹïŎáƇĺïƇŋħãŌöïƇŃøęáĮĜęñƃŊħĤěöïƉĹäŌïƇ ŇàĮŖĬúïƇƉĹäŌïƇĮĜåķöìƇ
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ƑĬħöåŬƇƣŁħĜúöïƇĬĦïŭåŊðƈŭĜģïŊĢĤóĮħìĬŒƅƊĬĤħħġáŊħĤěöïƉĹäŌïƇĮĜåʼnûíŃãƇƑ ʼnħħġáƣŴ ĮìĻĞĤïƇƂƇƑƣĬð ʼnĦàĮŖĬúïƇĻħĢĠöïƇƊĬħģĤêŎìơĬĞðĪàĻħĢĠöïƇƣŴʼnĦĤģĞáĿúóĬĤħì ƠĹġáŊðƢƣƒĻäƃĬð
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ŴĬĦáĨęñƃ ŎöïƇ ƈŭĜïƇ ʼnêƏ ƏƇŌð ƠƇĹúöæƇ ƥŌĥá Ņħî ŊħĤěöï ĮħĤħģĞöïƇ ƊƇƂƇĻãůƇ ʼnûí ƟĹê ĬĦäĻęàįĤíŎöïƇĽóƑĹöïƇƝĻèŃóŌĥáƊĬħøħáƇĻöæƇŊðĮħøħáƇĻöæƇƥƃņħõĜáƣ
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ŎĠģöúð ƈŭĜģï ĽóƑĹöïĬà ĮġģĞöĤïƇ ơŌûĥħģðŌá ƆƏĬõð ƑĬõöêŬƇ Ŏì ĺåĶƇ Ňà ƑĹøó IJĠäŰð ƉĹäŌïƇĮĜåĮĞãƇĻðƂĬĥâƃ ŹŵŻ ĮùĠŖ ƊƇƑĹġïƇ ŇáĹäƣĮĜåłĠäƇ
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ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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ĮġħíƏ Ÿŵ ŋĠğĚÚŋåƟĩĚéħÙĸģĞĜïèƅŷƕĩĕġèƅ
ƎĽäŐïƌIJġãƌĿðźƎŐğúïƌ ƏƇŌĤïƇƣƑĬĢìĶƇŎìĻĝñƇʼnâŴŷźŻ ĮùĠŖŎìƉƏƑƇŌïƇ ŻƉĹäŌģïĮħæĬæĶƇƗĬġĥïƇƣĮóƏĬçƑůƇĮģôæĶƇŃãƇƑ ŁħĜúöïƇƣƃĽóƑĹöïƇƂĬĥâƃƣƃňĚĠïƇňåƇƏĬĦðƇĹúöæƇŊĢĤóŎöïƇƣĬĦáĨęñƃŎöïƇ ƉƑƇƏůƇƣŇáĹäƣĺħĠĥáƊĬħøħáƇĻöæƇŇìĬęĢöæƇƂĬĥâƃʼnħòĬĠĤïƇƢĺòōģêĮħïĬöïƇƊƇĹäŌïƇŎìŎĥõöæƣ ĬħãŌïŌĥĢöģïĮïĬĞĠïƇ
őöĦäƖŎóƨĽáŻƎŐğúïƌ ĻîĺáƣĮħĚúęïƇŇöñƣĹðŎìƉĹäŌïƇƢĺòĬĦöïƣĬĥáŎöïƇĭħïĬæĶƇƣƊƇƑĬĦĤïƇƣĮĜęñĶƇŎìŇóƃƑƍĻèƇ ƥĺïƇĻħğöïƇƤĹðŋĞðľíĬĥáƣŴż ƉĹäŌïƇŎìŇïňħðƒŃðĮñƣĹĤïƇƢĺòƊĬùĠŖƤĹäƅƞƑĬęáƜŌæŇñƃ įíŌïƇƑƣĻĤàŇöìĻĞðƣŇĤĦìōģêƃĻè ŇöñƣĹðķöìƇ
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ŇáĹäŌï ŁħĜúöïƇ Ŏì ƉĹäŌïƇ Ƣĺò ĬĦħģê ļîĻá ŎöïƇ ĮĜġĥïƇ ƉĹêĬûð ƤĹð Ŏì ŇóƃƑ ƍĻèƇ ĬĦőĬęñƅƣ
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ŴŊóƣĹöïƇŃíŌðŃðƊĬàŌĞŖįĦãƇƣƇƐƅ ƏŌãŌĤïƇĮħðŌħïƇĭïĬíƠƇĹúöæƇŇĥĢĤó ōģê3RUWIROLR$VVHVVPHQWW ĹģøðŎì &XUULFXOXP5HVRXUFH ıðĹĤïƇƕĻġïƇ ŇőƇƑǡŊêĻħõĞöïƇňĤĢöï
ƀƦ ĬħáƇƐŊħĦãŌðŊħæƑƇƏƇŌùõĚħïŎàŭèƉĹêĬûðŎĥĥĢĤóŅħî
ƀŊħæƑƇĹïƇƊĬãĬħöäƇŅģöúðʼnêƏŎĥĥĢĤóŅħî
ŇûóƑĹá ĮġóĻè ōģê ƉĹäŌïƇ Ƣĺò Ŋð ĬĦöõûöîƇ ŎöïƇ ĮìĻĞĤïƇ ĻħâĨá ĮħĠħî Ŏì ĻħĢĠöïƇ Ňħģêƣ ŇöñƣĹðŎìŇìƣĬúðƣƃŇöģôæƃƣĬĦöĤģĞáŎöïƇĮħæĬæĶƇƗĬġĥïƇƣƞƑĬĢìƃňøæŇàŭèʼnģĞáƣ
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ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ŊõûħïƌŅĪğúöïƌ ĮġħíƏŸŵƝĻğöûáĮðĬêƉĻĝñ ņãĶèƅƍƅʼnĠèŃîôĠèƅľģĘóïèƅ
ŋáĽäŐïōêĽïƌƔƌŐðƥƌĽúöæƌŒìĿĥìźƎŐğúïƌ ňĤĞïƇōģêƞĹêĬûöæĬðƅŎöïƇʼnêĹïƇƏƇŌðƂĬęñůĬħãŌïŌĥĢöïƇƠĹúöûáƜŌæĮĞàĬûïƇƉĹäŌïƇƟŭå ĹíƟĬ÷ĤïƇňħõæōģĞìŇàŭèʼnģĞáĮħģĤêňħĦûáŎìƉĹêĬûĤģïĬĦðĹúöûáƣƃƉƂĬĠĢïƇŊðĹóļĤà Ŏ ƑŌðĶƇƂĬħïƣƃƣƈŭĜïƇŃðƊĬðŌģĞĤïƇĮîƑĬęĤïŎæƇƑĹïƇňĚĠģïƍŌöĠðįñĻöñƅŃíŌðň÷ðƦ ƇƑĹĚðīęĥá ƊĬêƣĻęĤïƇŎìƠĹġáŊðƈŭĜïƇƢƒĻäƃĬðĮĞàĬöĤïƊĬñĬħàƟƣĹãƣƃĮóĻĢìĮħģĤêƚŌĚóŎĤóĹġáƖĻêƣƃ ƊĬðŌģĞĤïƇŃĤøïįñĻöñůƇĻõêƙŭĜöæƇƣƃ ĮęíĬĥĤà ŶŹŻ ĮùĠŖ ŴŷŵŵŶ ňĚĠģï ĮùãĬñ ƊƇƏĬçƑƅƅ ƈĬöî Ŏì ƞŌïŌàƣ ıĥóĻĢàƣ ŌñƇƒƑĬð ƠĬí Ĺġï ĮĠģöúĤïƇƉĹäŌïƇňäƇĻðŎìĬĦĥħĤěáŊħĤģĞĤïƇōģêŎğõĥóŎöïƇĽóƑĹöïƇƊĬħøħáƇĻöæƇ ʼnģĞöïƇƜƇĹòƃŃŒŌïƊĬħøħáƇĻöæƇŊħĤěöàʼníŴƉĹäƣĮóƃ ĮóƇĹàà Ĺĥê
ƜĹĦàƊĬħøħáƇĻöæƇŊħĤěöàʼníŴƉĹäŌïƇ Ɵŭå
ʼnģĞöïƇƜƇĹòƃņħġùáŌùñƠĹġöïƇĹŖƑ
ƉĹóĹãƜƑĬĞðʼnóĹġá
ĬĦġħõĜáƣĬĦöĞãƇĻðƣĮìĻĞĤïƇĮæƑĬĤð
ʼnĦġħġùáƤĹðĹóĹùáōģêƈŭĜïƇƉĹêĬûĤïĮðƒŭïƇƊĬħøħáƇĻöæŬƇŊħĤěöàʼníŴƉĹäŌïƇ ĮóĬĦññŎì ʼnĦìƇĹòĶ
Ŏì ĬĦïƣĬĥá ʼná ŎöïƇ ʼnħħġöïƇ ƊĬħøħáƇĻöæƇ ĽĢĞáƣ ʼnģĞöïƇ ĮħģĤê Ƣĺò ĽóƑĹöïƇ ƊĬħøħáƇĻöæƇ ʼnêĹáƣ ƊĬħøħáƇĻöæŬƇƢĺòʼnêƏĮħĠħîŎìĻĢìƣĮŖĬúïƇƞƑĬĢìƃĬĦħïƅŅŒƃƣĮħïĬöïƇƑĬĢìĶƇŃãƇƑƇĺïƣŴŷƉĹäŌïƇ Ń ŇáĹäƣŎìƦ ĬħãŌïŌĥĢá ƝĻèňěìƃĮęíĬĥðƑĹøóŴŇàĮŖĬúïƇƉĹäŌïƇƝƇƑƣƃĮõħġäƏƇĹêƅŎìŊóĻåǡŊħĤģĞðŃðŇñƣĬĞáĮïĬäŎìƣ ƑĬęĤïƇŃíƇŌĤïƇŇģáň÷ðŎêĬĤãĭóƣŃíŌðƠƇĹúöæƇŎìĻĢìƣƇĺòŁħĜúöïƇƗĬęñŎìņóĻĠîňĤĞïƇ 5HVRXUFHV,QWHUQHW5HVRXUFHVĹģøðŎì V 2QOLQH&ROODERUDWLYH(GLWLQJ5HVRXUFHVĹĥöûðŎìĬĦħïƅ &XUULFXOXP5HVRXUFH ıðĹĤïƇƕĻġïƇōģê
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ōĪĦġöĦï ŌöñƊĵðİñĿà ŶŵƑƇĹŖůƇƊĬħæĬæĶƇƉƑƣƏ
ŴŲŸ
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ʼnģĞöïƇƜƇĹòƃŃŒŌïƊĬħøħáƇĻöæƇŊħĤěöàʼníŴƉĹäƣĮóƃ ĮóƇĹààĹĥê ƠƇĹúöæƇƟŭåŊðƇĺòņħġùáŊĢĤóƣ ŋáƇƑĬûĠöæƇʼnħĝĥáƣĭïĬĜïƇƤĹïƙŭĜöæŬƇĭäŃħøęöï IJĪħóĽĤáƛƨĿê
ƂĬħïƣƃƣƃƈŭĜïƇŃðĮħőĬĦĥïƇĹħêƇŌĤïƇƣƉĹäŌïƇƊĬĞíŌáĮęíĬĥĤï ƏƌƖŐĜĨðƣƃ IJĪħóĽĤáƛƨĿê ĬĤĦħģîƣƃƑŌðĶƇ
ĮħőĬĦĥïƇĹħêƇŌĤïƇƣƊƇŌĜúïƇƣƊĬĞíŌöïƇʼnĦìōģêƈŭĜïƇƉĹêĬûĤï IJêŐõğðƎĽäƨIJğå ĬĦħìʼnĦőƇƑǢàĮĤòĬûĤïƇƣƉĹäŌģï
ĭóŌïƇ ƑƏĬĚð ƣƃ ŎñƣĻöĢïůƇ ĹóĻõïƇ Ļõê ƑŌðĶƇ ƂĬħïƣƃ Ńð ňŖƇŌöģï IJĪñƨĿöĥïƊ Əůİĝáƌ Ōŕİæƨ ĮħæĬæĶƇƙƣĻęĤïƇƗĬġñķħŒŌáƣĹóĹùöï
ƩĿåƈƏƌƨƔƈ
ƜĹĦàƊĬħøħáƇĻöæƇŊħĤěöàʼníŴƉĹäŌïƇ Ɵŭå ʼnģĞöïƇƜƇĹòƃņħġùáŌùñƠĹġöïƇĹŖƑ ĬĦðƇĹúöæƇňĤöùĤïƇƊƇƣƏĶƇňĤęáĹí
ņóĻìƣƃĭïĬèňîōïƅƉĹĥûĤïƇƠĬĦĤïƇŊðŋĥðƂĬĦöñŬƇʼnáĬðĮĞàĬöĤï Ƒƕİħñ ƣƃƏİñİĪàƤƨƌĽã
ĭóŌïƇ ƑƏĬĚð ƣƃ ŎñƣĻöĢïůƇ ĹóĻõïƇ Ļõê ƑŌðĶƇ ƂĬħïƣƃ Ńð ňŖƇŌöģï IJĪñƨĿöĥïƊ Əůİĝáƌ Ōŕİæƨ ƠĹġáŊðĭïĬĜïƇƢƒĻäƃĬðōģêʼnĦêŭèů
ƊƇƑĬĦĤïĭïĬĜïƇƠƇĹúöæƇƤĹðňħøûöï IJĠäŰħïƌƨƔĿûïƌőĦêƎĽħöġðIJġãƌĿðōŕƌŐí ƤŌöùĤïĬàŋöìĻĞðƣŊóĻęĞïƇƣƥƏĬùïƇơĻġïƇ
ƩĿåƈƏƌƨƔƈ
ƉĹóĹãƊƇƑĬĦðƣĮìĻĞðʼnóĹġá
ƈŭĜïƇƂĹàƜĹĦàĬòƄĬęñƅʼnáŎöïƇ
ĬĦðƇĹúöæƇňĤöùĤïƇƊƇƣƏĶƇňĤęáĹí
ƏİñƨĽħïƌƨƈ IJäŐöģħïƌijñĿöñųƌŇíƌŐðŌ÷ð ıóƨƖƔİĝð
ƑƏĬĚĤïƇŁàƇƣƑƠƇĹúöæĬàʼnĦ÷ùà ŊðĮħïĬöïƇĮģäĻĤïƇƣƃƉĹóĹãʼnħòĬĠðʼnóĹġáƣĮġàĬûïƇĮìĻĞĤïƇŊðƉƏĬĠöæŭïIJĪħóĽĤáƛƨĿê ƉĹäŌïƇ
ĮħæĬæĶƇƊƇƑĬĦĤïƇƣʼnħòĬĠĤïƇʼnóĹġáĹĚġàňêĬĠöïƇĮĜęñĶƏƌĿĜñ
ƩĿåƈƏƌƨƔƈ
ŃàĬá
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ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ĮĞàĬöð ƜĹĦàƊĬħøħáƇĻöæƇŊħĤěöàʼníŴƉĹäŌïƇƟŭå ĬĤĦġħõĜáƣĬĤĦöĞãƇĻðƣƊƇƑĬĦĤïƇƣĮìĻĞĤïƇĮæƑĬĤð ĬĦðƇĹúöæƇňĤöùĤïƇƊƇƣƏĶƇňĤęáĹí ňħïƏƣƑƏĬĚðĻħìŌöïƣŴĬĦħģêĭïĬĜïƇŃģĜóōöäĮĜęñĶƇƣƓƣƑĹïƇĮĠçƑĶıóƨƖƔİĝð
ơƣĬĞöģïƑƏĬĚðĻħìŌöïƣƊĬêƣĻęĤïƇŎìƉĹêĬûĤģï ƊĬõóƑĹáƣƃĮħðŌóĮĜęñƃʼnóĹġáƣƃŊóĻęĞïƇƣƥƏĬùïƇơĻġïƇƊƇƑĬĦðƖĻĞïIJĪħóĽĤáƛƨĿê
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ʼnĦġħġùá ƤĹð ĹóĹùá ōģê ƈŭĜïƇ ƉĹêĬûĤï ĮðƒŭïƇ ƊĬħøħáƇĻöæŬƇ ŊħĤěöà ʼní ŴƉĹäŌïƇ ĮóĬĦñ Ŏì ʼnĦìƇĹòĶ ĬĦðƇĹúöæƇňĤöùĤïƇƊƇƣƏĶƇňĤęáĹí Ʀ ĬġĤĞöðƦ ƇĻħĢĠáƠļģöûáĮģôæƃƍĻĜï ıóƨƖƔİĝð ƣƃ
ƑƕİħñƨƈijñĿöñųƌĿõêƪƈƖƏİêŰğöæƌ
ƉĹóĹãƜƇĹòƃŃŒƣƣ ĮĞãƇĻðňãƃŊðƙƣĻęĤïƇƠĬĦðơŌģĤĢöûóƣơŌģĤĞóʼnòƣƈŭĜģïƑŌĚàƉƏƣļðIJĪħóĽĤáƛƨĿê ĮħêĬĤøïƇĮęíĬĥĤïĬàĮŖĬúïƇĮħĥħġģöïƇĮģôæĶƇƣƙƣĻęĤïƇĮóĬĦñ
ĬĦģħģùáƣƈŭĜïƇƊĬñĬħàŃĤøïƑƕİħñƣƏİñİĪàƤƨƌĽã
ƙƣĻęĤïƇıőĬöñňġĥïıóƨƖƔİĝð
ƩĿåƈƏƌƨƔƈ
ŒĨòľïƌʼnĝġïƌƤŰåŎðŋáĽäƨōêƔƔƌŐðŎêƖİĥìƈƜİõĨöæƌŻƎŐğúïƌ ŅĚĞïƇ Ɵŭå Ŋð Łõĥöûöï ĮħïĬöïƇ ĮģôæĶƇ Ŋê ĭãƃ ŴŶ ƉŌĜúïƇ Ŏì Ŏ ĮäƣĻĜĤïƇ ƑĬĢìĶĬà Ʀ ĬĥħĞöûð ĺĠĥáƣƈŭĜïƇʼnģĞáʼnêĹáơƃƣƉƂĬĠîĻ÷îƃķõĚáơƃōģêƞĹêĬûáĹíŎöïƇʼnêĹïƇƏƇŌðŊêƦ ƇƑĬĢìƃŎĥòĺïƇ ŇáĹäƣ ƀŇáĹäƣĭæĬĥöïĬĦģóĹĞáƣƃŎòĬĤîĬĦðƇĹúöæƇŎìĭëĻáƣňĞĠïĬàĬĦáĨęñƃŎöïƇʼnêĹïƇƏƇŌðĬð
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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ōĪĦġöĦï ŌöñƊĵðİñĿà ŶŵƑƇĹŖůƇƊĬħæĬæĶƇƉƑƣƏ
ŴŴŸ
ſƎĽäŐïƌ
ſƎĽäŐïƌ ıïİğïƌƒİøñŌãƈŎðŅĪğúöïƌ
ƀƉƂĬĠîĻ÷îƃķõĚáơƃōģêƞĹêĬûáĹíŎöïƇʼnģĞĤïƇʼnêƏƏƇŌðĬð
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ƀŇàŭèʼnģĞáƤŌöûðŊðŊûùáĹíŎöïƇƉĹóĹøïƇʼnêĹïƇƏƇŌðĬð
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ƀŇáĹäƣĺħĠĥáňħĦûáŎìĹħĠáĹíŎöïƇĮħìĬŒůƇʼnêĹïƇƏƇŌðĬð
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ŎĤóĹġöïƇƖĻĞïƇƣƃňĚĠïƇňåƇƏƊĬêƣĻęĤïƇƠĹġóƥĺïƇƑŌęĥĤïƇňóĹĞáƑĬħåŇïƍĬöó Ŏ Ơ ƥ ƍ IJĠäŰð ĹóĹĞïƇĻìƇŌáŊðʼnëĻïĬàƣĮħïĬöïƇƉĹäŌïƇŎìĹóĹãƑĹĚðƂĬęñƅŊðƦŬĹàƈŭĜïƇƊĬãĬħöäƇƓĬħġï ĹģøðŊðƑƏĬĚĤïƇĹäƃĮîƑĬęðōïƅŬƅƌĬöùáŊģìŴŇàĮŖĬúïƇƝƇƑƣĶƇĮõħġäŎìʼnêĹïƇƏƇŌðŊð ŽƉĹäŌïƇƝƇƑƣƃĮõħġäƖĻêŎì Ž XQLWBVXSSRUW
ŴŵŸ
ōĪĦġöĦï ŌöñƊĵðİñĿà ƊĬħæĬæĶƇƉƑƣƏ Ŷŵ ƑƇĹŖůƇ
ňöñƅĮîĻęïŷŵŵż
ĻęĥïƇƣŅħïĨöïƇƝŌġä ĮéŌĠùðƝŌġùïƇŃħĤã
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Ÿ ƇĶÝʼnèƅļóğé ŎöïƇƣĬĦáĨęñƃŎöïƇƏƇŌĤïƇƣƑĬĢìĶƇŎìĻĝñƇʼnâŴŻ ƉĹäŌģïĮħæĬæĶƇƗĬġĥïƇƣĮóƏĬçƑůƇĮģôæĶƇŃãƇƑ ʼnģĞáƤŌöûðŊħûùáōģêƉĹêĬûĤģïŁħĜúöïƇƣƃĽóƑĹöïƇƂĬĥâƃƣƃňĚĠïƇňåƇƏĬĦðƇĹúöæƇŊĢĤó Ňàŭè
ƎĽäŐïƌIJĦôæƈ ƀƦ ĬħáƇƐŊħĦãŌðŊħæƑƇƏƇŌùõĚħïƈŭĜïƇƉĹêĬûðŎĥĥĢĤóŅħî ƀŊħæƑƇĹïƇƊĬãĬħöäƇŅģöúðʼnêƏŎĥĥĢĤóŅħî
ſ ƎĽäŐïƌŒìIJĪæİæĺƌƜİĤĨïƌ ƈŭĜïƇŊðƣŊħĤģĞĤïƇŊðŅħĢáōïƅĭïĬĜïƇƟŌäļîĻĤöóňĚìōïƅƟŌùöïƇĭģĜöó ʼnĦóĹïŎáƇĺïƇŋħãŌöïƇƊƇƑĬĦðĮħĤĥáōģêʼnĦáĹêĬûĤïƈŭĜïƇŃðơŌĤģĞĤïƇơƣĬĞöóơƃŊħĞöó ƕĬúïƇʼnĦĤģĞöàņģĞöóĬĤħìŎàĬøóƅƑƣƏƈŭĜģïơŌĢóơƃĭøó ŊðƊƇƑĹġïƇŎĠģöúðƈŭĜģïĽóƑĹöïƇƝĻèŃóŌĥáŊħĤģĞĤģïŊĢĤó ƤŌöùĤïƇ ƊƇƂƇĻãůƇ ƊĬøöĥĤïƇ ʼnģĞöïƇĮôħà ĶƇŇïƐŎìĬĤàƉƏĹĞöðƝĻĜàʼnģĞöïƇƗĬĤñƃĮæƇƑƏŊħĤģĞĤģïŊĢĤó ŊĤóĶƇĿĠïƇƊƇƑĬĦðĻûóĶƇĿĠïƇƊƇƑĬĦĤàĮĜõáĻĤïƇĭħïĬæĶƇƣ ĤïƇ ʼnêĹïƇ ʼnóĹġá ŊħæƑƇĹïƇ ŃħĤã ƊĬãĬħöäƇ Ńð ŅħĢöïƇ ĭģĜöó ĮħïŭġöæŬƇƣĮġ÷ïĬàơŌĞöĤöó
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