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RQNKEKGUCTGkUCXGFlFWTKPIVJGVTCPUKVKQPCNRGTKQFVQHQTFGXGNQROGPVEQPVTQNRWTRQUGU6JGMG[
GZKUVKPI7&22QNKEKGUCTGVJGTGHQTGCUHQNNQYU
2QNKE[56IGPGTCNN[UGGMUVQTGUKUVkGZEGUUKXGN[lVCNNDWKNFKPIUCPFYKNNRTQVGEVUVTCVGIKECNN[KORQTVCPV
XKGYUDCEMFTQRUk'ZEGUUKXGlKUPQVFGÒPGFCURCTVQHVJGRQNKE[EQPVGZVCPFUJQWNFVJGTGHQTGDG
UWRRNGOGPVGFD[VJKU5VWF[lUFGÒPKVKQPQHkVCNNDWKNFKPIUlYKVJKPFKXKFWCNECUGUQHkGZEGUUKXGlDGKPI
EQPUKFGTGFDCUGFWRQPVJGQDLGEVKXGCUUGUUOGPVKFGPVKÒGFCV2CIG6JGRQNKE[UGGMUVQRTQVGEV
VJGNQECNGPXKTQPOGPVCPFGPUWTGVJCVDCFN[UKVGFCPFWPU[ORCVJGVKECNN[UECNGFQHÒEGDWKNFKPIUFQ
PQVQXGTFQOKPCVGVJG$QTQWIJ+VKUCNUQPQVGFKPVJGRQNKE[VJCVTGUKFGPVKCNVQYGTDNQEMUJCXGDGGP
JKUVQTKECNN[ WPRQRWNCT YKVJ TGUKFGPVU 9G TGEQOOGPFGF VJCV CP[ HWVWTG VCNN DWKNFKPI EQTG RQNKE[
CRRNKGUVQCNNNCPFWUGU
2QNKE['3GPEQWTCIGUFGXGNQROGPVUVJCVTGVCKPGPJCPEGCPFQTETGCVGXKGYUNCPFOCTMUCPFQVJGT
VQYPUECRGHGCVWTGUVJCVOCMGCUKIPKÒECPVEQPVTKDWVKQPVQVJGEJCTCEVGTQHCPCTGC&GXGNQROGPV
UJQWNFCNUQCEMPQYNGFIGVJGJGKIJVQHPGKIJDQWTKPIDWKNFKPIUCPFPQVFGVTCEVHTQOKORQTVCPVXKGYU
6JG RTKPEKRNGU QH VJKU RQNKE[ UJQWNF DG VCMGP HQTYCTF KP VJG PGY6CNN $WKNFKPI)WKFCPEG CPF CTG
TGÓGEVGFKPVJGTGEQOOGPFCVKQPUDGNQY
2QNKE[ '3 UGGMU VQ RTQVGEV VJG UVTCVGIKE XKGY CPF UGVVKPI UM[NKPG QH 5V 2CWNlU %CVJGFTCN
&GXGNQROGPVUlJGKIJVNQECVKQPCPFOCVGTKCNUVJCVYQWNFJCXGCFXGTUGGHHGEVQPVJKUUGVVKPIYQWNF
DGTGUKUVGF+PCUUGUUKPIVJKUVJG%QWPEKNYQWNFEQPUWNVQVJGTTGNGXCPVNQECNCWVJQTKVKGUCPFQVJGT
CRRTQRTKCVGDQFKGUYJGTGTGNGXCPV(WTVJGTOQTGVJGKORTQXGOGPVQHVJGXKGYUCHHGEVGFD[GZKUVKPI
DWKNFKPIUYKNNDGUQWIJV.KMGYKUGRTQRQUCNUVJCVYQWNFDGQDUEWTGFD[UWEJGZKUVKPIDWKNFKPIUYKNN
PQVDGRGTOKVVGFWPFGTVJKU2QNKE[#ICKPVJGRTKPEKRNGUQHVJKURQNKE[UJQWNFDGVCMGPHQTYCTFKPVJG
PGYGTVCNNDWKNFKPIIWKFCPEGCPFCTGTGÓGEVGFKPVJGTGEQOOGPFCVKQPUDGNQY
2QNKE[ '3 FGCNU URGEKÒECNN[ YKVJ VCNN DWKNFKPIU +V WUGU VJG FGÒPKVKQP QH mDWKNFKPIU YJKEJ CTG
UKIPKÒECPVN[ JKIJGT VJCP VJGKT UWTTQWPFKPIUn CU TGEQOOGPFGF JGTG 'ZEGRVKQPU VQ VJKU OC[ DG
CEEGRVCDNGVQVJG%QWPEKNUWDLGEVVQVJGUCVKUHCEVKQPQHHQWTFGUKIPDCUGFETKVGTKCTGNCVKPIVQ
CJKIJUVCPFCTFQHFGUKIPCPFOCVGTKCNU
EQPUKFGTCVKQPQHGZKUVKPICFLCEGPVDWKNFKPINKPGUYKPFVWTDWNGPEGCPFQXGTUJCFQYKPI
CXQKFKPIJQTK\QPVCNFQOKPCVKQPQHVJGNQECNUVTGGVDNQEMRCVVGTPCPF
PQVCHHGEVKPIVJGFGXGNQROGPVRQVGPVKCNQHCFLCEGPVUKVGU
6JGUGRTKPEKRNGUCTGCNUQTGÓGEVGFKPVJGHQNNQYKPITGEQOOGPFCVKQPU
5HFRPPHQGDWLRQVIRU3ODQQLQJ$SSOLFDWLRQV
3UHDSSOLFDWLRQSODQQLQJDGYLFH
2TQURGEVKXGCRRNKECPVUHQTVCNNDWKNFKPIUUJQWNFDGCFXKUGFVQGPVGTKPVQRTGCRRNKECVKQPFKUEWUUKQPU
YJGTGXGTRQUUKDNGYKVJVJG%QWPEKNCPFQVJGTTGNGXCPVUVCMGJQNFGTU+PVWTPVJG%QWPEKNUJQWNFEQPUWNV
YKVJ'PINKUJ*GTKVCIGCUCUVCVWVQT[EQPUWNVGGCPF%#$'CUCPQPUVCVWVQT[EQPUWNVGGHQTVCNNDWKNFKPI
RNCPPKPICRRNKECVKQPU(WTVJGTKPCEEQTFCPEGYKVJGZKUVKPI%QWPEKNIWKFCPEGVJG%QWPEKNUJQWNFCNUQ
EQPUKFGTEQPUWNVCVKQPYKVJPGKIJDQWTKPI$QTQWIJURNCPPKPIFGRCTVOGPVUYJGPCRRTQRTKCVG+VKUCNUQ
VJGTGHQTGTGEQOOGPFGFVJCVVJG.QPFQP$QTQWIJUQH6QYGT*CONGVU0GYJCO+UNKPIVQP9CNVJCO
(QTGUV*CTKPIG[CPFVJG%KV[QH.QPFQPCTGEQPUWNVGFKPVJG6CNN$WKNFKPI)WKFCPEG.&(RTQEGUU
3ODQQLQJ*XLGDQFH$VVHVVPHQWRISURSRVDOV
6JG$QTQWIJYKFGWTDCPCPCN[UKURTQEGUUWVKNKUGFYKVJKP5VCIGQHVJG5VTCVGI[5VWF[WUGFCkUKGXGl
CRRTQCEJYJKEJKFGPVKÒGUQPCkVQRKED[VQRKElDCUKURCTVKEWNCTCURGEVUQHVJG$QTQWIJVJCVGKVJGT
UWRRQTVQTEQPUVTCKPVJGRQVGPVKCNHQTVCNNDWKNFKPIU'CEJNC[GTQHVJKUUKGXGYCUVJGPEQODKPGFVQ
RTQXKFGCPQXGTXKGYQHCTGCUYKVJKP*CEMPG[VJCVCTGkUWKVCDNGlkRQVGPVKCNN[UWKVCDNGlQTkWPUWKVCDNGl
HQTVCNNFGXGNQROGPV
6JGkVQRKED[VQRKElDCUKUHQTEQPUKFGTCVKQPQHVCNNDWKNFKPIUKUYKFGN[WUGFD[QVJGTNQECNRNCPPKPI
CWVJQTKVKGUlIWKFCPEGCPFKUGXKFGPVYKVJKPVJG$KTOKPIJCO$TKIJVQP$TKUVQNCPF+UNKPIVQPIWKFCPEG
FQEWOGPVU6JGHQNNQYKPIDTQCFNQECVKQPCPFFGUKIPDCUGFVQRKEUCTGEQXGTGF
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&GPUKV[
GZRNQTCVKQPQHCNVGTPCVKXGHQTOU
5WTTQWPFKPI%QPVGZV
UVTCVGIKEXKGYUVQRQITCRJ[DWKNVHQTOCPFUM[NKPG
6TCPURQTVCPF1VJGT+PHTCUVTWEVWTG
RWDNKEVTCPURQTV
*KUVQTKE'PXKTQPOGPV
RTQVGEVKQPQHEQPUGTXCVKQPCTGCUNKUVGFDWKNFKPIU
#TEJKVGEVWTCN'ZEGNNGPEG
5WUVCKPCDNG&GUKIPCPF%QPUVTWEVKQP
.QECNGPXKTQPOGPV
OKETQENKOCVGCPFIGPGTCNCOGPKV[
2GTOGCDKNKV[CPFNGIKDKNKV[QHVJGUKVGCPFUWTTQWPFKPICTGC
2WDNKE4GCNOCPF#EEGUUKDKNKV[
2TQRQUCNU VJCV CTG KFGPVKÒGF CU UKIPKÒECPVN[ VCNNGT VJCP VJGKT UWTTQWPFKPIU UJQWNF DG TGUVTKEVGF VQ
CTGCUYJGTGQRRQTVWPKVKGUJCXGDGGPKFGPVKÒGFHQTVCNNGTFGXGNQROGPVYKVJKPVJKU5VWF[
5GG5VCIG
4GRQTV #RRTQRTKCVG RQNKE[ UJQWNF DG FTCHVGF VQ VJKU GHHGEV JQYGXGT VJG UWRRQTVKPI ITCRJKECN
KPHQTOCVKQPTGNCVKPIVQURGEKÒEIGQITCRJKECNCTGCUUJQWNFDGECTGHWNN[EQPUKFGTGFKGYJGTGKFGPVKÒGF
YKVJKP VJG HQTOCN IWKFCPEG VJGUG UJQWNF DG TQDWUVN[ UWRRQTVGF D[ KPHQTOCVKQP EQPVCKPGF YKVJKP
5VCIGQHVJKU5VWF[
6JGHQNNQYKPIVJGOGUCTGUWIIGUVGFHQTEQPUKFGTCVKQPKPRTGRCTKPI.&(RQNKE[
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6CNNDWKNFKPIUUJQWNFPQVRTGLWFKEGKPVTWFGWRQPQTQDUVTWEVUVTCVGIKEXKGYUYKVJKPQTCETQUUVJG
$QTQWIJ6CNNDWKNFKPIUUJQWNFCNUQJCXGTGICTFVQGZKUVKPINQECNXKGYU
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#NNPGYVCNNDWKNFKPIUUJQWNFDGQHCJKIJSWCNKV[QHFGUKIPUWEJVJCVVJG[ECPOCMGCRQUKVKXG
EQPVTKDWVKQP VQ VJG $QTQWIJlU WTDCP HQTO CPF UM[NKPG CPF UWRRQTV WTDCP TGIGPGTCVKQP KP KVU
YKFGUVUGPUG
5VTCVGIKECNN[ RNCEGF CPF YGNNFGUKIPGF6CNN DWKNFKPIU ECP DG NCPFOCTMU VJCV CTG GCU[ VQ UGG CPF
TGEQIPKUGCPFRTQXKFGCIGQITCRJKECNQTEWNVWTCNQTKGPVCVKQPRQKPVVJCVECPGPJCPEGVJGNGIKDKNKV[QH
VJG$QTQWIJCPFRTQXKFGCPCVVTCEVKXGGNGOGPVYKVJKPVJGEKV[UECRG*QYGXGTEQPXGTUGN[CRQQTN[
FGUKIPGFCPFKNNEQPEGKXGFVCNNDWKNFKPIEQWNFWPFGTOKPGVJCVNGIKDKNKV[
+VKUKORQTVCPVHQTCRRNKECPVUVQTGEQIPKUGVJCV6CNNDWKNFKPIUYKNND[VJGKTXGT[PCVWTGHQTORTQOKPGPV
GNGOGPVUQTMG[HQEKYKVJKPVJGUM[NKPGVJCVYKNNDGXKGYGFHTQOCNNCPINGU2TQRQUCNUHQT6CNNDWKNFKPIU
YKVJKPVJG$QTQWIJUJQWNFGPUWTGVJCVVJGUVTCVGIKEFGUKIPCVGFXKGYUQWVNKPGFYKVJKPVJG.QPFQP
2NCP CTG PQV EQORTQOKUGF CPF VJCV NQECNN[ KORQTVCPV XKGYU YKVJKP QT VJTQWIJ VJG $QTQWIJ CTG
RTQVGEVGF
+P CFFKVKQP VQ VJG DGPGÒVU QH JKIJ SWCNKV[ FGUKIP VJGTG CTG OCP[ RQUKVKXG TGIGPGTCVKQP CURGEVU
TGNCVGFVQ6CNN$WKNFKPIFGXGNQROGPVUWEJCUVJGCVVTCEVKQPQHOCLQTKPXGUVOGPVOGGVKPIKFGPVKÒGF
EQOOGTEKCNTGSWKTGOGPVUHQTOQFGTPCEEQOOQFCVKQPCPFEQPVTKDWVKPIVQVJGRQUKVKXGKOCIGQHCP
CTGC
6CNN DWKNFKPIU ECP JGNR VQ GPJCPEG VJG NGIKDKNKV[ QH VJG $QTQWIJ CFF VQ VJG FKUVKPEVKXGPGUU QH VJG
EJCTCEVGTQHRCTVKEWNCTCTGCUCPFJGNRRGQRNGVQÒPFVJGKTYC[CTQWPF
6JG%QWPEKNUJQWNFGPUWTGVJCVCPCRRNKECPVEQPUKFGTUVJGRTQXKUKQPQHTQQHVQRRNCPVCPFGSWKROGPV
FWTKPIVJGKPKVKCNFGUKIPUVCIGU#RTQHWUKQPQHRNCPVCPFVGNGEQOOWPKECVKQPUGSWKROGPVECPUGXGTGN[
FGVTCEVHTQOVJGHQTOCPFSWCNKV[QHCDWKNFKPICPFUWDUGSWGPVN[CRRGCTCUKPEQPITWQWUHGCVWTGU
YKVJKPVJGTQQHUECRGCPFUM[NKPG
8KUWCN+ORCEV
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1RRQTVWPKVKGUHQTTGOQXCNQTTGRNCEGOGPVQHKPCRRTQRTKCVGVCNNDWKNFKPIUYQWNFDGEQPUKFGTGF
HCXQWTCDN[
/CP[ VCNN DWKNFKPIU YKVJKP VJG $QTQWIJ TGRTGUGPV RQQT SWCNKV[ CTEJKVGEVWTCN UQNWVKQPU DGCT NKVVNG
TGNCVKQPUJKRVQVJGKTUWTTQWPFKPIUCPFHCKNVQEQPVTKDWVGVQVJGSWCNKV[HQTOCPFNGIKDKNKV[QHVJGKT
UWTTQWPFKPIU
9JGPQRRQTVWPKVKGUCTKUGVQTGOQXGTGRNCEGQTTGENCFUWEJKPCRRTQRTKCVGVCNNDWKNFKPIUVJGKTGZKUVKPI
JGKIJVDWNMQTOCUUKPIUJQWNFPQVDGTGICTFGFCUCRTGEGFGPVHQTVJGUECNGQHCP[TGRNCEGOGPVCP
CRRTQRTKCVGTGFWEVKQPKPJGKIJVEQWNFDGUQWIJV'CEJPGYRTQRQUCNUJQWNFDGVTGCVGFQPKVUQYP
OGTKVUCICKPUVVJGTGNGXCPVRQNKE[CPFFGUKIPIWKFCPEG
5WUVCKPCDKNKV[CPF'PXKTQPOGPV.QECNGPXKTQPOGPV5WUVCKPCDNG&GUKIPCPF%QPUVTWEVKQP
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6CNN DWKNFKPIU UJQWNF DG TGURQPUKXG VQ GPXKTQPOGPVCN EQPFKVKQPU CPF GODTCEG RTKPEKRNGU QH
UWUVCKPCDKNKV[
#JGKIJVGPGFRWDNKECYCTGPGUUQHGPXKTQPOGPVCNKUUWGUCFXCPEGOGPVUKPEQPUVTWEVKQPVGEJPQNQI[
CPFCTCKUGFCYCTGPGUUQHFGUKIPKPIGPGTCNJCXGRCXGFVJGYC[HQTUWUVCKPCDKNKV[VQDGTGEQIPKUGFCU
CETWEKCNGNGOGPVKPVJGHWVWTGRNCPPKPICPFFGXGNQROGPVQHWTDCPCTGCU
2TQRQUCNU UJQWNF EQPUKFGT VJGKT GHHGEV QP VJG NQECN GPXKTQPOGPV KP VGTOU QH UJCFQYKPI CPF
OKETQENKOCVG 5WPRCVJ FC[NKIJVKPI CPF UWPNKIJVKPI UVWFKGU YKNN UJQY VJG KORCEV QH UJCFQYKPI
YJKNUVYKPFVWPPGNCPCN[UKU
QTGSWKXCNGPVYKNNGPUWTGVJCVWPEQOHQTVCDN[JKIJYKPFURGGFUCTGPQV
ETGCVGFCTQWPFVJGDWKNFKPIUDCUGCPFKPVJGURCEGUYJKEJUWTTQWPFKV2TQOQVKPIWUGQHPCVWTCN
GPGTI[DWKNFKPICFCRVCDKNKV[GVE
%QPUGTXCVKQP#TGCU*KUVQTKE'PXKTQPOGPV
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6CNN DWKNFKPI FGXGNQROGPV UJQWNF UGGM VQ RTQVGEV CPF GPJCPEG%QPUGTXCVKQP#TGCU CPF VJGKT
UGVVKPIU
%QPUGTXCVKQP#TGCUJCXGIGPGTCNN[DGGPEQPUKFGTGFCUDGKPIKPCRRTQRTKCVGHQTVCNNDWKNFKPIUCURTQXKFGF
YKVJKP2QNKE['3CPF'3
CPF'3p5GVVKPIQH.KUVGF$WKNFKPIUpEQOOQPYKVJKP%QPUGTXCVKQP
CTGCUQHVJG#FQRVGF2NCP6JCVKUPQVVQUC[VJCVVCNNFGXGNQROGPVYKNNPGXGTDGCEEGRVCDNG*QYGXGT
CUKIPKÒECPVN[ITGCVGTNGXGNQHKPHQTOCVKQPLWUVKH[KPIVJGGZEGRVKQPCNEKTEWOUVCPEGUQHCP[RTQRQUCNU
YKVJ TGICTF VQ 22) p 2NCPPKPI CPF VJG *KUVQTKE 'PXKTQPOGPV YQWNF DG TGSWKTGF YKVJKP VJGUG
CTGCUVQGPUWTGVJCVVJG%QWPEKNECPCRRTQRTKCVGN[CUUGUUVJGRTQRQUCNU
6JGTG YKNN DG C IGPGTCN RTGUWORVKQP CICKPUV VCNN DWKNFKPIU KP DQVJ GZKUVKPI CPF PGY QT GZVGPFGF
%QPUGTXCVKQP#TGCU+VYKNNCNUQDGKORQTVCPVVQTGURGEVVJGUGVVKPIQTXKGYUKPVQQTQWVQH%QPUGTXCVKQP
#TGCUKPCP[CRRNKECVKQPHQTCVCNNDWKNFKPI6JGITCRJKECNTGRTGUGPVCVKQPQHVJKUCTGCKUFKHÒEWNVVQ
GZRTGUUIKXGPVJGXCT[KPIPCVWTGQHVJGUGVVKPIUQHMG[DWKNFKPIUYKVJKPGCEJ%QPUGTXCVKQP#TGCCPF
VJGTGHQTGGCEJECUGYKNNDGEQPUKFGTGFQPKVUQYPOGTKVU6JGTGCTGCNUQNCTIGCTGCUQHVJG$QTQWIJ
PQVKFGPVKÒGFCU%QPUGTXCVKQP#TGCUYJKEJEQPVCKPJKIJSWCNKV[FQOGUVKEUECNGJQWUKPIYJKEJYQWNF
CNUQDGIGPGTCNN[KPCRRTQRTKCVGHQTVCNNDWKNFKPIFGXGNQROGPV
2QNKE['3CPF'3QHVJG#FQRVGF2NCPUGGMUVQRTQVGEVVJG5RGEKCN.CPFUECRG%JCTCEVGTQHVJG
ECPCN'ZKUVKPIXKGYUUM[NKPGUCPFPCVWTGEQPUGTXCVKQP
2QNKE['3KPECPCNTGNCVGFGPXKTQPOGPVU
CTGVJGTGHQTGTGNGXCPVEQPUKFGTCVKQPUKPCP[VCNNDWKNFKPIRTQRQUCNUCEMPQYNGFIKPIVJGHCEVVJCVVCNN
DWKNFKPIUECPCEVCUHQECNRQKPVU6JG%QWPEKNRTGUGPVN[EQPUKFGTUVJCVDWKNFKPIUQHCRRTQZKOCVGN[HQWT
UVQTG[UCTGIGPGTCNN[CEEGRVCDNGQPECPCNHTQPVCIGU+VUJQWNFDGPQVGFVJCVVJG%QWPEKNKURTGUGPVN[
EQPUKFGTKPIVJGRQVGPVKCNVQKFGPVKH[CURGEVUQHVJGECPCNGPXKTQPOGPVCU%QPUGTXCVKQP#TGCU6JKU
RTQVGEVKXGRTKPEKRNGKUCNUQEQPUKFGTGFCRRTQRTKCVGCNQPIVJG4KXGT.GCKPVJGGCUVQHVJG$QTQWIJ
YJGTGQRGPPGUUQHNCPFCFLCEGPVVQVJGTKXGTUJQWNFDGRTQVGEVGF
6TCPURQTV#EEGUUKDKNKV[
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6CNNDWKNFKPIFGXGNQROGPVUJQWNFDGYGNNNQECVGFKPTGNCVKQPVQGUVCDNKUJGF
CPFRNCPPGFRWDNKE
VTCPURQTVPGVYQTMU
+PNKPGYKVJDGUVRTCEVKEGCPFKPVJGKPVGTGUVUQHCEJKGXKPICPGHÒEKGPVWTDCPHQTOKPVGPUKÒECVKQPQH
FGXGNQROGPVUJQWNFQEEWTKPCTGCUVJCVCTGYKVJKPYCNMKPIFKUVCPEGQHGKVJGTTCKNVWDGUVCVKQPUQT
IQQFSWCNKV[DWUTQWVGU%QPEGPVTCVKPIVCNNDWKNFKPIFGXGNQROGPVKPRTQZKOKV[VQGZKUVKPIVTCPURQTV
KPVGTEJCPIGUEQPVTKDWVGUVQCOQTGCEVKXGCPFXKDTCPVUGPUGQHRNCEGCPFUVTQPIN[RTQOQVGUCOQTG
UWUVCKPCDNGCRRTQCEJVQWTDCPNKXKPI
&GVCKNGFCUUGUUOGPVQHGZKUVKPIRWDNKEVTCPURQTVTQWVGUCPFPQFGU
OQTOKPWVGYCNMUJQWNF
DGRTQXKFGFVQUWRRQTVCRNCPPKPICRRNKECVKQP+PNKPGYKVJ)QXGTPOGPVIWKFCPEGVJGRQNKE[RTKPEKRNG
CUUWOGUVJCVNQECVKQPUYKVJKPOKPWVGUQHMG[TQWVGUCPFPQFGUCTGKPCDGVVGTRQUKVKQPVQUWRRQTV
FGPUGFGXGNQROGPV
CPFVJGTGHQTGRQVGPVKCNN[NCTIGIGPGTCVQTUQHOQXGOGPVUKPVJGHQTOQHVCNN
DWKNFKPIU+VUJQWNFDGPQVGFVJCVVJKUUVWF[JCUPQVJCFVJGUWRRQTVQHCOQTGTQDWUV26#.CPCN[UKU
2WDNKE6TCPURQTV#EEGUUKDKNKV[.GXGNVJGFGITGGQHCEEGUUVQVJGRWDNKEVTCPURQTVPGVYQTM.QPFQP
2NCP(GDTWCT[
+VUJQWNFDGPQVGFVJCVCNVJQWIJRCTVUQHVJG$QTQWIJJCXGDGGPKFGPVKÒGFCUJCXKPITGNCVKXGN[JKIJ
CEEGUUKDKNKV[NGXGNUYKVJCRCTVKEWNCTGORJCUKUQPDWUVTCXGNVJKUUJQWNFDGUGVYKVJKPVJGEQPVGZV
QHYKFGTCPFRCTVKEWNCTN[OQTGEGPVTCN.QPFQPCTGCUYJKEJDGPGÒVHTQOGXGPITGCVGTCEEGUUKDKNKV[
6JG KPHTCUVTWEVWTG EQTTKFQTU KFGPVKÒGF KP 5VCIG FQ PQV PGEGUUCTKN[ TGRTGUGPV C RCTVKEWNCT SWCNKV[
QHUGTXKEGDWVOGTGN[CEMPQYNGFIGGUVCDNKUJGFTQWVGUYKVJVJGRQVGPVKCNHQTCPCEEGRVCDNGNGXGNQH
UGTXKEG+VKUCNUQKORQTVCPVVQPQVGVJCVVJG'CUV.QPFQPNKPGKUKPEQTRQTCVGFCURCTVQHVJKUYQTMYKVJ
VJGCPVKEKRCVGFDGPGÒVUQHKPETGCUKPIWPFGTITQWPFUGTXKEGUYKVJKPVJG5QWVJ9GUVQHVJG$QTQWIJ
CPVKEKRCVGFVQDGTGCNKUGFYKVJKPVJGkNKHGVKOGlQHVJG.&(
2WDNKE+PHTCUVTWEVWTGCPF(CEKNKVKGU
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6CNNDWKNFKPIRTQRQUCNUOWUVCUUGUUVJGEWTTGPVECRCEKV[QHNQECNKPHTCUVTWEVWTGCPFHCEKNKVKGU
6JGFGXGNQRGTUJQWNFDGTGSWKTGFVQWPFGTVCMGCPCUUGUUOGPVQHVJGECRCEKV[QHVJGTQCFPGVYQTM
NQECNTGVCKNHCEKNKVKGUYCUVGYCVGTUGYCIGFKURQUCNU[UVGOURWDNKEVTCPURQTVUGTXKEGUQRGPURCEGU
RNC[ITQWPFUUEJQQNUCPFEJKNFCPFJGCNVJECTGHCEKNKVKGU6JKUCPCN[UKUUJQWNFHQTOVJGDCUKUQHCP[
PGIQVKCVKQPQHRNCPPKPIQDNKICVKQPU
UCITGGOGPVU
6JGUWRRQTVKPIVGZVVQVJKURQNKE[UJQWNFCNUQRTQOQVGVJGWUGQHRNCPPKPICITGGOGPVUCPFEQPFKVKQPU
CU CP CRRTQRTKCVG OGVJQF HQT UGEWTKPI KORTQXGOGPVU VQ KPHTCUVTWEVWTG UWEJ CU UGYGTCIG CPF QP
RWDNKEVTCPURQTVYJGTGUWEJFGXGNQROGPVUTGSWKTG
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6JGTGUKFGPVUCPFGORNQ[GGUCUUQEKCVGFYKVJCVCNNDWKNFKPIYKNNV[RKECNN[IGPGTCVGUKIPKÒECPVCFFKVKQPCN
FGOCPFQPGZKUVKPIKPHTCUVTWEVWTG#RRNKECVKQPUUJQWNFDGTGSWKTGFVQCFFTGUUCP[UJQTVEQOKPIUKP
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