dR
(7:/5=82<&59/V25&14&NdPNNQP^NS^
!""#$%&'#$(&)#*$+,-.*$!"#*$EJ/A-FG0,5.341H!.,45
'46/25& D2:;<& 7:5W& 17& =9:;317<29:& @/& 5648V4& 3?/2:& 7& 648V25& @4& @2>>/548& 17& ;3:3<2?/4& @4& :95& V42114/85& 3<719:5& 4<& @i2V698<48& =4114& @45& =[7V629:5F& #45& =9:;317<29:5&4>>4=</345&4:&@4[985&@45& 57259:5&5698<2D45&648V4<<4:<&@i2:53V2X :48&@4&:9V084/545&t/V4:<5&64:@7:<&17& 57259:& @4& 84689@/=<29:& 64:@7:<& ?/4& 145&3<719:5&=9:=9/84:<&@7:5&@45&124/L& 3192;:35F& !2:52W& 145& 314D4/85& 9:<& 4:& 648V7:4:=4&7==E5&q&@45&@9545&@i2:53X V2:7<29:&57:5&825?/45&57:2<72845F& (71[4/84/54V4:<W& @45& 2:=9:D3:24:<5& 5/0525<4:<F&'i/:4&678<W&768E5&@3=9:;3X 17<29:W& 17& @/834& @4& D24& @45& 5648V7<9X m9x@45&45<&=9/8<4W&=4&?/2&9012;4&q&2:53X V2:48& 9/& 3=[9;876[248& 61/5& 59/D4:<& 17&t/V4:<&M'7415W&^NNQUF&'i7/<84&678<W& V71;83& /:4& 09::4& ?/712<3& @4& 5648V4& >8725W&^N&Å&@45&3t7=/17<5&3?/2:5&:4&5/6X 698<4:<& 675& 17& =9:;317<29:W& 17& ?/712<3& @/& 5648V4& 768E5& @3=9:;317<29:& 3<7:<& 2:=9::/45& M+2@7V4:<& 6)$ 23#W& STTg& s&&
+2@7V4:<W& ^NNdUF& #45& @9545& :i3<7:<& 675& =9VV48=2712570145W& 17& 648<4& 45<& 19/8@4& 69/8& 14& 6896823<7284& @4& 1i3<7X 19:&Z&17&;45<29:&@4&17&=7882E84&@4&84689X @/=<4/8&45<&61/5&=9V612?/34W&1i4L698X <7<29:&[985&$/8964&45<&2V69552014&4<&17& ;3:3<2?/4&45<&V92:5&@2>>/534F&
A7=4&q&=45&>72<5W&17&84=[48=[4&5i9824:<4& 7=</4114V4:<& @7:5& 61/524/85& @284=X <29:5F& C:4& 684V2E84& 76689=[4& D254& q& 96<2V2548& 14& V2124/& @4& =9:;317<29:& M9/&6H)6"'6:U&M+2@7V4:<&6)$23#W&^NNS&s& ^NNd&s&%?/2845W&^NNd&s&(988411W&^NNR&s& .2114<&6)$23#W&^NN]&s&^NSNUF&84=[48=[4& 5i2:<384554&7/552&7/L&V3<[9@45&@4&@45X =4:<4& 4:& <4V6387</84W& 69/8& @2V2:/48& 145& 13529:5& =411/172845& @/45& 7/& >892@& M"7\89<[$ 6)$ 23#W& ^NN^& s& *57=[4:J9$ 6)$ 23#W&^NNQ&s&^NNdUF&C:4&7/<84&76689=[4& 45<&17&@3<48V2:7<29:&@4&1i982;2:4&@45&13X 529:5&5/0245&678&14&5648V7<9m9x@4&1985& @4& 17& =9:;317<29:F&!=</4114V4:<W& 145& >98V45& 7=<2D345& @4& 1i9LK;E:4& MA!GU&
M UW& @45& =9VX 69535&[7/<4V4:<&837=<2>5&2:<487;2557:<& 7D4=&@2>>384:<45&V913=/145W&59:<&678<2X =/12E84V4:<&V2545&4:&=7/54&4:&7:@89X 19;24&[/V72:4&4<&D3<382:7284&Me7:;$6)$ 23#W&STTg7&s&I711$6)$23#W&^NNS&s&!2<J4:&4<& I7J48W&^NNO&s&(988411W&^NNRUF
#4& 0/<& @4& =4<& 78<2=14& 45<& @4& 84D928& 17& 6[K52919;24& @/& 5648V7<9m9x@4& 4<& @i4:&@25=/<48&145&2V612=7<29:5&@7:5&14& =9:<4L<4& @4& 17& =9:;317<29:F& #45& 7V3X 12987<29:5& @45& <4=[:2?/45& @4& =9:;317X <29:&68354:<45&9/&q&D4:28&5489:<&7/552& 3D9?/345F
LG0054.,45-01/00
!364;,4+4C,/0
#7&=9:;317<29:&@45&=411/145&7&69/8&0/<& @4&83@/284&14/8&V3<709125V4&=411/17284& @/834& @4& =9:548D7<29:F& )464:@7:<W& 1i4L6952<29:&@45&=411/145&7/&>892@&14/8& >72<& =9/828& <8925& <K645& @4& @7:;48& Z& 14& =[9=& <[48V2?/4& ?/2& 4:<872:4& 17& @3:7X </87<29:&@4&=48<72:45&689<32:45W&17&=825X <711257<29:&2:<87=411/17284&?/2&689D9?/4&)9:;317<29:&@/&5648V4&@7:5&1i456E=4&3?/2:4&Z&
3<7<&@45&124/L&4<&648564=<2D45
.G",_*$-&cFSW&QW&+!"&'$"&I$-H_$&AFSW&.!--*##!X_$-"!"'$f&%FSW&QW&_!"f$"&)F^W&'$#$Cf$&%FSW&Q
S&&&.7<[919;24&@4&17&-4689@/=<29:&@45&!:2V7/L&@4&)9V67;:24&4<&$?/2@35W&)12:2?/4&@45&!:2V7/L&@4&)9V67;:24&4<&@45&$?/2@35W& ^&&&,[3829;3:919;24&@45&-/V2:7:<5W&)12:2?/4&@45&!:2V7/L&@4&.89@/=<29:W&A7=/1<3&@4&(3@4=2:4&D3<382:7284W&C:2D4852<3&@4E;4W&0n<2V4:<&IOSW&I9/14D78@& @4&)919:5<48W&^NW&ONNNE;4W&I41;2?/4&s Q&&:71/L&o&(9:<X#4X%924W&)4:<84&4/89634:&@/&)[4D71W&ddTN&)2:4KW&I41;2?/4F !"##$%&"'()'*$&Z&'8&cF&.9:<[248&o&$V721&Z&c489V4F.9:<[248Y/1;F7=F04& RÉSUMÉ
équine. Un rappel résumera la formation du spermatozoïde dans le testicule, son anatomie
dg @45&13529:5&@45&98;7:41145&4<&17&@35[KX @87<7<29:&2:<87=411/17284&?/2&4:<872:4&17& @3:7</87<29:&@4&=48<72:45&689<32:45&4<& 1i7==/V/17<29:&@4&=9V69535&<9L2?/45& MH87[7VW&^NSSUF&
#7& <4=[:2?/4& @4& =9:;317<29:& 2@3714& @4D872<& 683D4:28& =45& @2>>384:<5& 825?/45F&)464:@7:<W&=[7?/4&<4=[:2?/4& @4& =9:;317<29:& D7& 12V2<48& =48<72:5& 825?/45W&V725&4:&689V9/D928&@i7/<845F& #985& @4& 17& =9:;317<29:W& ?/2& =9:525<4& q& >7284& @2V2:/48& 689;84552D4V4:<& 17& <4V6387</84W& 14& 825?/4& @4& >98V7<29:& @4& =825<7/L& 2:<87=411/172845& 45<& 314D3W& =4&?/2&2V612?/4&14&84=9/85&q&@4&>98<45& =9:=4:<87<29:5& 4:& 7;4:<& =8K9689X =9:525<4&4:&/:4&@2V2:/<29:&08/<714&@4& 17& <4V6387</84W& 17& 8398;7:257<29:& 4:& =825<7/L& :i7& 675& 124/W& V725& 14& 825?/4& @4&@3:7</87<29:&@45&689<32:45&45<&683X 54:<&MH87[7VW&^NSSUF&)4<<4&<4=[:2?/4& :3=4552<4& =464:@7:<& 14& 84=9/85& q& @4& [7/<45& =9:=4:<87<29:5& 4:& 7;4:<& =8K9X 689<4=<4/8&MI7;=[2&6)$23#W&^NN]U&VpV4& 52& @4& 83=4:<45& 6/012=7<29:5& 172554:<& 64:548&?/4&:9:&M"7\89<[&6)$23#W&^NN^UF #45& V2124/L& @4& =9:;317<29:& D9:<& =9:<4:28& @45& 7;4:<5& =8K9689<4=<4/85& <7/L& 2:<87=411/17284F& *1& 4L25<4& @4/L& <K645&@i7;4:<5&=8K9689<4=<4/85&Z o&&145& 7;4:<5& 63:3<87:<5W& =9VV4& 14&
;1K=3891W& 14& @2V3<[K15/1>9LK@4& M'(%GU& MH21V984$ 6)$ 23#W& ^NNNU& 9/& 145&7V2@45&M!1D784:;7$6)$23#W&^NNdU&Z& 215&59:<&@4&075&692@5&V913=/17284&s&4:& 4:<87:<& @7:5& 17& =411/14W& 215& 12V2<4:<& 17& >98V7<29:& @4& =825<7/L& 2:<87=411/X 172845&s o&&145&7;4:<5&:9:&63:3<87:<5W&=9VV4&14& 57==[78954&9/&14&<83[71954&Z&215&D9:<& 845<48&q&1i4L<3824/8&@4&17&=411/14&4<&17& @35[K@87<48&678&95V954&9/&689<3;48& 17&=411/14&4:&7/;V4:<7:<&17&D25=952<3& @/&V2124/F
#45& =9:=4:<87<29:5& 4:& 7;4:<& =8K9689X <4=<4/8& @92D4:<& p<84& V2:2V7145W& =78& =45& @48:2485& 64/D4:<& p<84& <9L2?/45& 7/& :2D47/& =411/17284F& )4<<4& =9:=4:<87<29:& @7:5& /:& V2124/& @4& =9:;317<29:& @92<& 145&@3;n<5&=411/172845&1235&q&17&=9:;317X <29:W&V725&@92<&845<48&07554&69/8&12V2X <48& 57& <9L2=2<3& 5/8<9/<& =[4m& 14& =[4D71& 4<&14&698=W&=[4m&145?/415&17&V4V087:4& @/& 5648V7<9m9x@4& 45<& 678<2=/12E84X V4:<& 54:52014& 7/L& 4>>4<5& 95V9<2?/45& <9L2?/45& @45& 7;4:<5& =8K9689<4=<4/85& M%?/2845$6)$23#W&^NNOUF
#4& 5648V7<9m9x@4& 45<& /:4& =411/14& =9:<4:7:<& 8417<2D4V4:<& 64/& @i47/& 678& 876698<& 7/L& 7/<845& =411/145W& =4& ?/2& 12X V2<4&17&>98V7<29:&@4&;17=4&2:<87=411/X 17284W& V725& 1i4L6954& 7/552& 8762@4V4:<& 7/L& @7:;485& 1235& q& 17& @35[K@87<7<29:& =411/17284&4<&q&17&@3:7</87<29:&@45&689X <32:45F&=9::72557:=4&@4&1i7:7<9V24& 4<&@4&17&6[K52919;24&@/&5648V7<9m9x@4& 648V4<& @4& =9V684:@84& ?/41145& 5<8/=X </845& 59:<& 54:520145& 7/L& 4>>4<5& @4& 17& =9:;317<29:F
OG0-:/372.4E4,1/-Z0
-:/372.4C/5j-/Z0
!2:2!,.2.,450/.0
9M!4512.,45
?&!&$O*$07*.8,+9;9U/*#4& 5648V7<9m9x@4& <87:5698<4& 1i2:>98X V7<29:& ;3:3<2?/4& @7:5& 14& <87=</5& ;3:2<71& >4V4114& 4<& 17& @312D84& q& 1i2:<3X =4<<4& V25529:W& 14& 5648V7<9m9x@4& 45<& [7/<4V4:<& @2>>384:=23F& #7& <72114& 4<& 17& >98V4&@/&5648V7<9m9x@4&D7824:<&4:<84& 456E=45&M%4:;48W&^NNdUF&)[4m&1i3<719:W& 21&V45/84&RN&äV&@4&19:;&5/8&^Wg&äV&@4& 178;4&M!V7::&4<&H87[7VW&^NSSUF&(98X 6[919;2?/4V4:<W&14&5648V7<9m9x@4&@45& V7VV2>E845&45<&@2D253&4:&@4/L&678<245& =9V684:@&1i7=8959V4W&14&=[7647/&:/X =137284&4<&14&:9K7/&=411/17284&4<&M22U&17& 2:<48V3@27284W&17&62E=4&682:=26714&4<&17& 62E=4&<48V2:714F&
#7& V4V087:4& =K<96175V2?/4& =9:5<2X </4& 17& 07882E84& 7D4=& 14& V2124/& 4L<3X 824/8F& $114& :i45<& 675& [9V9;E:4& V725& 45<&@2D2534&4:&@4&:9V084/L&V2=89X@9X V72:45& MV957x?/4U& 9à& @45& 689<32:45&
#964m& 6)$ 23#W& ^NNg& s& I948J4& 6)$ 23#W& ^NN]&s&H7@4117W&^NN]0UF&'4&:7</84&1262X 678&14&V2124/&9à&54&<89/D4&14&5648V7X <9m9x@4&7D4=&14?/41&@45&3=[7:;45&59:<& 695520145W& =9VV4& 678& 4L4V614& 7D4=& 14& =[9145<3891& M(9984$ 6)$ 23#W& ^NNd7& s& G12D4287$6)$23#W&^NSNUF&)[4m&14&=[4D71W& 14& 09D2:& 4<& 1i[9VV4W& 17& V4V087:4& 45<& 54:52014& 7/L& @9VV7;45& =7/535& 678&17&=9:;317<29:&MI78<[414VK&6)$23#W& STTN&s&I19<<:48&6)$23#W&^NNS&s&I911\42:& 6)$ 23#W& ^NN]UF& #45& A!G& 54V014:<& 2:X @/284&@45&13529:5&@4&17&V4V087:4&1262X @2?/4&1985&@/&689=455/5&@4&=9:;317<29:& =[4m&1i[9VV4&Me7:;&6)$23#W&STTg=UW&14& 09D2:&M`î55&6)$23#W&^NNgU&4<&14&=[4D71& M"421@&6)$23#W&^NNd&s&G8<4;7&A488/5917& 6)$ 23#W& ^NNT7UW& VpV4& 52& @45& V9@E145& @4& 689@/=<29:& & @4& A!G& :i9:<& 675& 7/;V4:<3& 17& 6489LK@7<29:& @45& V4V087:45& @/& 5648V7<9m9x@4& 3?/2:& MI7/V048&6)$23#W&^NNNUF
)17552?/4V4:<W& 17& <p<4& 45<& @3=82<4& =9VV4& =9V684:7:<& <8925& 678<245& Z& M2U& 1i7=8959V4W& M22U& 14& :9K7/& 4<& M222U& 14& =[7647/&:/=137284&MI19V&4<&I28=[X!:X @4854:W&STgdUF&5/8>7=4&@4&17&V4VX 087:4& @4& 17& <p<4& 45<& 5<8/=</834& 4:& /:4& V957x?/4& @4& <4882<92845& 4L6957:<& @45& 689<32:45&:3=45572845&q&17&=767=2<7<29:& M%4:;48W& ^NNd& s& I948J4& 6)$ 23#W& ^NN]& s& H7@4117W&^NN]7&s&H7@4117&6)$23#W&^NN]UF& #i7=8959V4& 45<& /:4& D7=/914& 52</34& q& 1i7D7:<& @/& :9K7/& ?/2& 45<& >98V34& 1985& @4&17&5648V29;4:E54&64:@7:<&17&6[754& @4& H91;2& M%4:;48W& ^NNd& s& !V7::& 4<& H87[7VW&^NSSUF-&4:mKV45&[K@891KX <2?/45&5K:<[3<2535&678&1i7=8959V4&59:<& 84569:570145&@4&17&1K54&@4&17&m9:4&641X 1/=2@4& 9D9=K<7284& 1985& @4& 17& >3=9:@7X <29:&M%4:;48W&^NNd&s&!V7::&4<&H87[7VW& ^NSSUF& #7& =9:;317<29:& 689D9?/4& @45&
d]
837=<29:5& 7=8959V27145& 683V7</8345& MI78<[414VK& 6)$ 23#W& STTN& s& %=[4V082& 6)$23#W&^NN^UF&
#4&:9K7/&=9V684:@&14&V7<38241&;3:3X <2?/4& Vn14F& *1& 45<& 83=4VV4:<& 76678/& ?/4& 14& :9K7/& @/& 5648V7<9m9x@4& V7X </84& 689@/2<& 4:=984& @45&!-"& V4557X ;485&M(21148W&^NNgUW&=9:<84@257:<&1i2@34& ;3:38714V4:<& 7@V254& @4& 1i2:7=<2D2<3& @/& V7<38241& ;3:3<2?/4& @45& ;7VE<45& V7</845F& )[4m& 14& =[4D71& 4<& 1i[9VV4W& 17& 68354:=4& @4& A!G& 4:<87l:4& 17& >87;X V4:<7<29:&@4&1i!'"&@/&:9K7/&M*8D2:4& 6)$ 23#W& ^NNN& s& I7/V048& 6)$ 23#W& ^NNQU& 4<& @45& A!G& 64/D4:<& p<84& 689@/2<45& 7/&=9/85&@/&689=455/5&@4&=9:;317<29:& Me7:;& 6)$ 23#W& STTg0UF& #7& >87;V4:X <7<29:& @4& 1i!'"& 7& 3<3& @284=<4V4:<& 7559=234& q& 17& >48<212<3& =[4m& 1i[9VV4&& M$D4:59:&4<&c95<W&^NNNUF&
#7& ?/4/4& =9V684:@& <8925& 678<245& Z& 17& 62E=4& 2:<48V3@27284W& 17& 62E=4& 682:=2X 6714& 4<& 17& 62E=4& <48V2:714F& #7& ?/4/4&
W&q&17&<p<4&@/&5648V7<9m9x@4F& #7&62E=4&2:<48V3@27284&45<&3178;24&678& X 57:<&1i!,.W&@25695345&4:&[312=4&7/<9/8&
X :EV4& =4:<871& M%4:;48W& ^NNd& s&!V7::& 4<& H87[7VW& ^NSSUF& )[4m& 14& =[4D71W& 21& 7& 3<3& V9:<83& ?/4& 17& =9:;317<29:& 689X D9?/4& /:4& @2V2:/<29:& @4& 1i7=<2D2<3& V2<9=[9:@82714&M%=[9048&6)$23#W&^NNgUF& #7& 62E=4& 682:=26714& 45<& =9V69534& @4& 1i7L9:EV4& =4:<871& 4<& 17& 62E=4& <48V2X
?&%&$$V*$4,$07*.8,+95*(>0*$$ E$4B2W,164,+-9($
'7:5& 14& <45<2=/14& 3?/2:W& 17& >98V7<29:& @i/:& 5648V7<9m9x@4& @/84& dg& t9/85& M%4:;48W& ^NNd& s& !V7::& 4<& H87[7VW& ^NSSUF& #45& 5648V7<9;9:245& 59:<& 52X </345& 14& 19:;& @4& 17& V4V087:4& 075714& @45& </045& 53V2:2>E845F& !/& =9/85& @4& 14/8& @2>>384:<27<29:W& 41145& D9:<& p<84& =9:@/2<45&D485&17&1/V2E84&@4&=45&</045& 678& 145& =411/145& @4& %48<912& M%4:;48W& ^NNdUF&
!/& =9/85& @4& 17& 5648V7<9=K<9;4:E54W& 9/& 6[754& @4& 68912>387<29:W& 145& 5648X V7<9;9:245& 54& @2D254:<& 678& V2<9545& 69/8& 7882D48& 7/& 5<7@4& 5648V7<9;9X :24& I& 9/& 84:9/D4148& 14& 5<9=J& @4& =41X 1/145& 59/=[45F& #45& 5648V7<9;9:245& I& 5/02554:<& /:4& @2D2529:& V2<9<2?/4& 69/8& 675548& 7/& 5<7@4& 5648V7<9=K<4& *F& #4& 5<7@4& 5648V7<9=K<4& **& 5487& 7<<42:<&
768E5& 17& 684V2E84& @2D2529:& V329<2?/4& M83@/=<29::4114U& 4<& 17& 54=9:@4& @2D2X 529:& V329<2?/4& M3?/7<29::4114U& 145& 7VE:487&7/&5<7@4&5648V7<2@4&M%4:;48W& ^NNd& s& !V7::W& ^NSSUF& #7& @2>>384:X =27<29:& 9/& 5648V29;4:E54& D7& 4:5/2<4& 648V4<<84& 7/L& 5648V7<2@45& @i7=?/3828& 14/8&>98V4&4<&14/85&>9:=<29:5&M%4:;48W& ^NNd& s&!V7::W& ^NSSUF& $114& 54& @2D254& 4:& O& 3<7645& Z& 17& 6[754& @4& H91;2& M>98X V7<29:& @4& 1i7=8959V4& 678& 1i76678421& @4&H91;2UW&17&6[754&@4&=[7647/&M319:X ;7<29:&@4&1i7=8959V4&7/<9/8&@/&:9K7/& 17& 6[754& 7=8959V714& M7119:;4V4:<& @/& =K<96175V4&4<&@/&:9K7/UW&17&6[754&@4& 4<&@/&V7:=[9:&@4&V2<9=[9:@8245&@4&17& 62E=4& 2:<48V3@27284U& M%4:;48W& ^NNd& s& !V7::W&^NSSUF&
#7&@2>>384:=27<29:&<48V2:34W&1985&@4&17& 5648V27<29:W& 14& 5648V7<2@4& 45<& 120383& @7:5& 14& </04& 53V2:2>E84& 678& 145& =41X 1/145&@4&%48<912F-&</045&53V2:2>E845& 54& =9114=<4:<& @7:5& 14& :6)6$ )65)05W& 6/25& @7:5&145&=7:7/L&4>>384:<5&7D7:<&@i4:X <848&@7:5&1i362@2@KV4&M!V7::W&^NSSUF& #4& 5648V7<9m9x@4& 3?/2:& 53t9/8:4& 7/& V2:2V/V& OWS& t9/85& @7:5& 1i362@2@KV4& MM%4:;48W&^NNd&s&!V7::W&^NSSUW&9à&@45& X 6[919;2?/45&D9:<&7D928&124/F&'/87:<&=4& <87:52<W& @45& 689<32:45& 4<& @45& ;1/=2@45& 2:@2564:570145& q& 17& =767=2<7<29:& D9:<& p<84&2:=1/5&q&17&5/8>7=4&@4&17&V4V087:4& @4&17&<p<4&M%4:;48W&^NNd&sτm&6)$23#W& ^NNg& s& H7@4117W& ^NN]0UF& #4& 12?/2@4& 68354:<& q& 1i4:<834& @4& 1i362@2@KV4& D7& 6845?/i4:<2E84V4:<&p<84&837059803&4<&21& 5487& 4:5/2<4& 84V617=3& 678& /:4& 53=83X <29:&@4&17&678<24&@25<714&@4&1i362@2@KV4& MM%4:;48W&^NNd&s&!V7::W&^NSSUF&'7:5& 17& <p<4& @4& 1i362@2@KV4W& 145& 5648V7<9X m9x@45&:4&59:<&:2&V902145W&:2&>48<2145&4<& /:4& ;9/<<414<<4& =K<96175V2?/4& 689L2X V714& 45<& 68354:<4& MM%4:;48W& ^NNd& s& !V7::W& ^NSSUF& #7& 689;845529:& @45& 5648V7<9m9x@45& @7:5& 1i362@2@KV4& :4& @364:@& 675& @4& 14/8& V90212<3& 689684W& V725& @4& V9/D4V4:<5& @4& 1i362<[312/V& =2127284&4<&@4&1i7=<2D2<3&V/5=/17284&12554& @4& 17& 67892& M%4:;48W& ^NNd& s& %/784mW& ^NNRUF&'7:5&14&=9865&@4&1i362@2@KV4W& 145& 5648V7<9m9x@45& 7=?/2E84:<& 14/8& V90212<3F& #i766782<29:& @4& 17& V90212<3& >72<&5/2<4&q&1i705986<29:&@4&=78:2<2:4&7/& :2D47/&@4&17&<p<4&@4&1i362@2@KV4&M%4:X ;48W&^NNd&s&!V7::W&^NSSUF&r&=4&5<7@4W& 17&;9/<<414<<4&=K<96175V2?/4&54&<89/D4& 5/8& 1i4L<83V2<3& @25<714& @4& 17& 62E=4& 2:<48V3@27284& MI87/:& 6)$ 23#W& STTOU& 4<& 145& 5648V7<9m9x@45& 64/D4:<& 54& 1248& q& 1i9D9=K<4&4<&59:<&=7670145&@4&>3=9:@48& /:& 9D9=K<4& M%95<782=$ 6)$ 23#W& ^NN]7UF&
)[4m&1i[/V72:&M_/<=[9:$6)$23#W&STT]&s& I7=[<411$ 6)$ 23#W& STTTUW& 14& =[24:& M(78X <2:5$ 6)$ 23#W& ^NNTU& 4<& 14& =[4D71& MI87/:& 6)$23#W&STTO&s&I7=[<411&6)$23#W&STTTUW&145& 5648V7<9m9x@45& 83=91<35& @7:5& 1i362@2X @KV4& 64/D4:<& p<84& =9:;4135F& '7:5& 17& ?/4/4& @4& 1i362@2@KV4W& 145& 5648V7<9X m9x@45& 59:<& =7670145& @4& >3=9:@48& /:& 9D9=K<4W& =4<& 4:@892<& 548D7:<& @4& 83548X D928&M%4:;48W&^NNdUF
%4/15& 145& 5648V7<9m9x@45& 68354:<5& @7:5& 17& 678<24& @25<714& @4& 1i362@2@KV4& 59:<& 3t7=/135F& #45& 68312V2:72845& 54L/415& 689D9?/7:<& /:4& 120387<29:& @i9=K<9=2:4W& 145& =9:<87=<29:5& @45& V/5=145& 125545& D9:<& 7V4:48& 145& 5648X V7<9m9x@45&t/5?/iq&1i/8E<84&641D24:&9à& 215& 5489:<& 5<9=J35& 7D7:<& 1i3t7=/17<29:& M%4:;48W& ^NNdUF& #4& 6175V7& 53V2:71& 45<& 689@/2<& =[4m& 1i3<719:& 678& 1i362@2X @KV4W& 1i7V69/14& @/& =7:71& @3>384:<W& 145& ;17:@45& 53V2:7145W& ?/2& 689@/254:<& 17&;87:@4&V7t982<3&@/&6175V7&53V2:71W& 17& 6895<7<4& 4<& 145& ;17:@45& 0/109X/83X <87145&M%4:;48W&^NNdUF&'7:5&14&6175V7& 53V2:71W& 17& V4V087:4& =K<96175V2?/4& @4& 17& <p<4& D7& p<84& 84=9/D48<4& 678& @45& 689<32:45& 4<& @45& ;1/=2@45& @/& 6175V7& 53V2:71&M#964m&6)$23#W&^NNg&s&H7@4117W&& ^NN]0& s& H7@4117& 6)$ 23#W& ^NN]UF& #7& @2X 1/<29:& @/& V2124/& 362@2@KV7284& 678& 14& 6175V7&53V2:71&D7&7/552&14D48&1i2:[202X <29:&@4&17&V90212<3&@45&5648V7<9m9x@45& M%4:;48W&^NNdUF ?&?&$$A,7,1-+,+-9($$ /6$07*.8,+9;9U/*$$ *+$R219(/,+-9(
.9/8& 69/D928& >3=9:@48& 1i9D9=K<4W& 145& 5648V7<9m9x@45&@92D4:<&<87:52<48&4:<84& 1i/<38/5& 4<& 1i25<[V4& @4& 1i9D2@/=<4& @/& 17& =767=2<7<29:& Z& 145& 689<32:45& 4<& ;1/X =2@45& 68354:<5& q& 17& 5/8>7=4& @4& 17& <p<4& D9:<& p<84& @3<7=[35& MH7@4117W& ^NN]7& s& X <29:W&145&5648V7<9m9x@45&5489:<&2VV9X 0212535& 5/8& 1i362<[312/V& @4& 1i9D2@/=<4& 4<& 5489:<& 4:5/2<4& 1203835& 64:@7:<& 61/X 524/85&[4/845&9/&t9/85&M%4:;48W&^NNd&s& %95<782=$6)$23#W&^NN]0UF&!68E5&=9:;317X <29:W& /:4& 7/;V4:<7<29:& @4& 17& 689698X <29:&@4&5648V7<9m9x@45&=767=2<35&7&3<3& 90548D34&=[4m&14&=[4D71W&14&09D2:&4<&14& 698=&M)98V248$6)$23#W&STTg&s&%=[4V082$ 6)$23#W&^NN^&s&,[9V75$6)$23#W&^NNRU&Z&4:& X <7145& >4V41145& 4:& 7<<4:@7:<& /:4& 1203X 87<29:& 695<3824/84W& 14& 5648V7<9m9x@4& 7& /:4& @/834& @4& D24& 4<& @4& >3=9:@7<29:& 768E5& 2:53V2:7<29:& 83@/2<4& q& S^X^O& [4/845&=[4m&17&t/V4:<F
dT '7:5&1i9D2@/=<4W&145&V9/D4V4:<5&@/&5648V7<9m9x@4&7/;V4:<4:<&4<&:4&59:<&61/5& 6411/=2@4&Mf.QU&;8n=4&q&@45&m9:45&@4&127259:&68354:<45&5/8&57&<p<4&M%4:;48W&^NNd&s& <29:&7=8959V2714&4<&1i[K6487=<2D7<29:&@/&5648V7<9m9x@4&D9:<&648V4<<84&17&63:3<87X <29:&@4&17&m9:4&6411/=2@4&M%4:;48W&^NNd&s&!V7::&4<&H87[7VW&^NSSUF&$:5/2<4W&145& V4V087:45&@/&5648V7<9m9x@4&4<&@4&1i9D9=K<4&>/529::4:<W&14&:9K7/&54&@3=9:@4:54& 4:&>98V7:<&14&689:/=13/5&Vn14&M%4:;48W&^NNd&s&!V7::&4<&H87[7VW&^NSSUF
_G00./!N5,QH/-01/0!45CM+2.,4501H0-:/37/0
69/8&@3<48V2:48&545&=787=<3825<2?/45&M=9:=4:<87<29:&4:&5648V7<9m9x@45W&V90212<3UF& #4&5648V4&45<&@21/3&/:4&684V2E84&>925&7D4=&14&684V248&V2124/&q&0754&@4&172<&9/&@4& =9V6957:<5&@4&172<&4<&:4&=9:<4:7:<&675&@i7;4:<&=8K9689<4=<4/8F&'2>>384:<45&>98X V/17<29:5&=9VV48=27145&4L25<4:<&4<&548D4:<&q&=9:548D48&14&5648V4&>8725&@7:5&/:4& ;7VV4&@4&<4V6387</84&7117:<&@4&d&q&^Nï)F& )[4m&14&=[4D71W&14&5648V4&45<&8417<2D4V4:<&64/&=9:=4:<83W&=9:<87284V4:<&q&=4&?/2& 45<&90548D3&@7:5&@i7/<845&456E=45&=9VV4&14&09D2:&MI787=71@9W&^NNgU&Z&14&6175X 9BKA#$0L&Z&=767=2<7<29:&@/&5648V7<9m9x@4 9BKA#$0O&Z&689=455/5&@4&=9:;317<29:&@4&17&54V4:=4&3?/2:4=4:<82>/;35& q& <4V6387</84& 7V027:<4& M+2@7V4:<& 6)$ 23#W& ^NNNU& 4<& 14& 5/8:7X ;47:<& 45<& 4:14D3F& )48<72:45& 3?/2645& M%717m78$6)$23#W&^NN]&s&.9:<[248$6)$23#W& ^NSQU& 6896954:<& @4& =9:548D48& /:4& 64<2<4& >87=<29:& @4& 6175V7& 53V2:71W& @4& 17& =9:;317<29:W& V725& @i7/<845& 84=9VX V7:@4:<& @4& 14& 84<2848& 4:<2E84V4:<& M+2@7V4:<$6)$23#W&^NNN&s&^NNSUW&=78&14& 6175V7& 53V2:71& :4& 54V014& 675& 03:3X 3?/2:&M(9984$6)$23#W&^NNd0UF&
'4& :9/D47/L& 689<9=9145& /<21257:<& @45& V2124/L& =9/552:& 9:<& 648V25& @i7/;X V4:<48&t/5?/iq&61/5&@4&TN&Å&14&69/8X =4:<7;4& @4& 83=/6387<29:& @45& 5648V7X <9m9x@45& 768E5& =4:<82>/;7<29:F& #i7t9/<& @4& =45& V2124/LW& ?/2& 59:<& =9V69535& @i/:4& 591/<29:& @i29@2L7:91W& 7/& >9:@& @45&</045&648V4<&@i7/;V4:<48&1i7==3X 1387<29:& @4& 17& =4:<82>/;4/54& MSNNN& ;& 64:@7:<& ^N& V2:/<45& 7/& 124/& @4& RNN& ;& 64:@7:<&SN&V2:/<45W&57:5&V2124/&=9/5X 52:U&4<&14&<4V65&@4&=4:<82>/;7<29:&57:5& 689D9?/48& @4& 13529:5& @/& 5648V7<9X m9x@4&Me72<4&6)$23#W&^NN]&s&_99;4\2t5& 6)$23#W&^NSNUF&:9V084&@4&672114<<45& 689@/2<45& 678& 3t7=/17<& 45<& @9:=& 61/5& ;87:@&=78&14&:9V084&<9<71&@4&5648V7X <9m9x@45& 768E5& =4:<82>/;7<29:& 45<& 61/5& 314D3&MTN&Å&@45&5648V7<9m9x@45&83=/X 63835& 7/& 124/& @4& RN& Å& 7D4=& 14& 689<9X =914& @4& =4:<82>/;7<29:& :i/<21257:<& 675& 145& V2124/L& =9/552:5UF& C:4& 71<48:7X <2D4&q&17&=4:<82>/;7<29:&45<&@4&5367848& 145& >87=<29:5& @i3t7=/17<29:& 1985& @4& 17& 83=91<4&69/8&:4&=9:548D48&?/4&17&>87=X <29:& 82=[4& 4:& 5648V7<9m9x@45& M%24V4$ 6)$23#W&^NNO&s&`7845J95J2$6)$23#W&^NNdUW& =9VV4&=[4m&14&=[24:&M#2:@4XA985048;W& STTS&s&,[28/V717$6)$23#W&^NNQ&s&`/<m148W& ^NNdUF&)464:@7:<W&=4<<4&<4=[:2?/4&@4X V7:@4& @4& 1i4L63824:=4& @4& 17& 678<& @45& 64859::45&4>>4=</7:<&17&83=91<4F& C:4& 3<764& 2:<48V3@27284& 64/<& p<84& 7t9/<34& 7/& 689=455/5& @4& =9:;317<29:& =17552?/4& Z& 17& =4:<82>/;7<29:& 5/8& @45& V2124/L& =9119x@7/LF& )4<<4& V3<[9@4& 648V4<&@4&5367848&145&5648V7<9m9x@45& 7:98V7/LW&145&@30825&=411/172845&4<&145& 07=<38245&4<&@i72:52&7V3129848&17&?/712<3& @/& 5648V4& 768E5& @3=9:;317<29:& 4:& :4& 5314=<29::7:<& ?/4& 145& 5648V7<9m9x@45& :98V7/L& ?/2& 59:<& =9:52@3835& =9VV4& V902145& 4<& 69<4:<24114V4:<& >48<2145& MH17:@48$6)$23#W&STTN&s&`907K75[2$6)$23#W& STTS&scV25W&^NNR&s&(988411W&^NNR&s& $@V9:@$ 6)$ 23#W& ^NN]& s& _99;4\2t5 6)$ 23#W& ^NSN& s& .9:<[248$ 6)$ 23#W& ^NSQUF& )4<<4& V3<[9@4& 45<& <8E5& /<214& =[4m& 145& 3<719:5&@9:<&17&?/712<3&@/&5648V4&>8725&
RN 45<&>72014W&V725&4114&:3=4552<4&@/&<4V65& 4<&4:<872:4&@4&;87:@45&648<45&4:&5648X V7<9m9x@45&4<&@9:=&/:4&@2V2:/<29:&@4& 17&689@/=<29:&@4&672114<<45&678&3t7=/17<F C:4&>925&?/4&14&=/19<&82=[4&4:&5648V7X <9m9x@45&45<&90<4:/W&21&45<&@21/3&7D4=&14& V2124/&@4&=9:;317<29:F&)[4m&14&=[4D71W& 145& V2124/L& @4& =9:;317<29:& 59:<& 689X @/2<5&q&0754&@4&172<&9/&@4&=9V6957:<5& @4& 172<W& =9:<87284V4:<& 7/L& V2124/L& /<212535& =[4m& 1i[/V72:W& 14& 09D2:& 4<& 14& =[24:& @9:<& 17& 0754& 45<& /:& V2124/& <825X >8/=<954&M$5<4D45&6)$23#W&^NNQ&s&,[28/X V717& 6)$ 23#W& ^NNQ& s& I787=71@9W& ^NNgUF& '/&t7/:4&@iå/>&45<&7/552&7t9/<3&7/&V2X 124/&@4&=9:;317<29:&=[4m&<9/<45&145&45X 6E=45F&-3=4VV4:<W&14&6175V7&@4&t7/:4& @iå/>&7&3<3&/<21253&=[4m&14&=[4D71&69/8& 84V617=48& 14& t7/:4& @iå/>& M.2114<& 6)$ 23#W&^NSSUF&#i/<21257<29:&@4&V2124/L&@4& =9:;317<29:& 57:5& 689<32:45& @i982;2:4& 7:2V714&@92<&4:=984&p<84&3</@234&=[4m& 14& =[4D71W& V725& 145& 684V2485& 455725& 83712535&7D4=&@/&5648V4&83>82;383&59:<& @3=4D7:<5&Me941@485&6)$23#W&^NNgUF& #4& ;1K=3891& 45<& 1i7;4:<& =8K9689<4=X <4/8& 14& 61/5& /<21253& 69/8& =9:;4148& @/& 5648V4F&!1985&?/4&145&5648V7<9m9x@45& [/V72:5& M!;78\71W& ^NNNUW& 09D2:5& MI787=71@9W& ^NNgU& 4<& =7:2:5& MA785<7@W& STT]U& 5/6698<4:<& @45& =9:=4:<87<29:5& 4:&;1K=3891&4:<84&R&4<&]&Å&@/&D91/V4& <9<71W& 17& =9:=4:<87<29:& =[4m& 14& =[4D71& :4& @4D872<& 2@3714V4:<& 675& @3675548& 145& QWd& Å& @/& D91/V4& <9<71& M+2@7X V4:<W& ^NNd& s&+2@7V4:<& 6)$ 23#W& ^NNdUF& -3=4VV4:<W&/:&V2124/&@4&=9:;317<29:& :4&=9:<4:7:<&?/4&^Wd&Å&@4&;1K=3891&7& 3<3& @3D419663& 4<& @9::4& @4& <8E5& 09:5& 835/1<7<5& @4& >48<212<3& 90548D34& M.2114<& 6)$ 23#W& ^NN]& s& ^NSSUF& C:& 7/<84& V2124/& @4&=9:;317<29:&:4&=9:<4:7:<&?/4&S&Å& @4& ;1K=3891& 45<& 3;714V4:<& @2569:2014& 4<& @9::4& @4& 09:5& 835/1<7<5& @4& ?/712<3& @4& 5648V4& M!1D784:;7& 6)$ 23#W& ^NNdUF& )464:@7:<W& =4& V2124/& @4& =9:;317<29:& =9:<24:<& 7/552& @45& 7V2@45& ?/2& 2:<48X D24::4:<& @7:5& 17& =8K9683548D7<29:W& 698<7:<&17&=9:=4:<87<29:&<9<714&4:&7;4:<& =8K9689<4=<4/8&<9<71&q&d&Å&M!1D784:;7& 6)$23#W&^NNdUF&D91/V4&@4&V2124/&@4& =9:;317<29:& :3=4557284& 69/8& 7<<42:@84& 672114<<45&45<&7t9/<3&M+2@7V4:<W&^NNdUF& #4& 684V248& 671248& @4& 17& @45=4:<4& 4:& <4V6387</84& =9:525<4& q& 3?/2120848& 17& <4V6387</84&@/&5648V4&q&Oï)&64:@7:<& gd& V2:/<45& M+2@7V4:<& 6)$ 23#W& ^NNNUF& #4& 5648V4& 45<& 4:5/2<4& =9:@2<29::3& 4:& 672114<<45& @4& NWd& V1& M+2@7V4:<& 6)$ 23#W& ^NNNUF& #45& 672114<<45& 59:<& 84>892X
@245&@7:5&/:&=9:;317<4/8&314=<89:2?/4& ?/2& 4:D924& @45& D764/85& @i7m9<4& 69/8& 7<<42:@84& XSONï)W& 7D4=& /:4& 64:<4& D7X 827:<W& 5419:& 14& V2124/& @4& =9:;317<29:& /<21253W& 4:<84& X^Nï)& 4<& XRNï)& 678& V2X :/<4&M!1D784:;7&6)$23#W&^NNd&s&.2114<&6)$ 23#W& ^NN]UF& #45& 672114<<45& 59:<& 4:5/2<4& 2VV48;345& 4<& 5<9=J345& @7:5& 1i7m9<4& 12?/2@4&MXSTRï)UF&.9/8&145&@3=9:;4148W& 145&672114<<45&59:<&2VV48;345&64:@7:<& QN& 54=9:@45& @7:5& /:& 072:XV7824& q& Qgï)& M+2@7V4:<W& ^NNdUF& '4/L& 6721X 14<<45&@4&=[7?/4&19<&59:<&4:5/2<4&7:7X 1K5345&7D7:<&17&=9VV48=271257<29:F
`G001M./37,52.,4500
1/0+20QH2+,.M00
1H0-:/37/0MQH,5
"&!&$$A9(1*(+.,+-9($*($ 07*.8,+9;9U/*0#7& =9:=4:<87<29:& 3<72<& =17552?/4V4:<& @3<48V2:34&678&14&=9V6<7;4&=411/17284& 5/8&[3V9=K<9VE<84&9/&=411/14&@4&,[9X V7F& #i/<21257<29:& @4& 17& 6[9<9V3<824& 7& >7=212<3&17&@3<48V2:7<29:&@4&17&=9:=4:X <87<29:W&V725&=48<72:5&02725&4L25<4:<&52& 14&5648V4&3<72<&=9:<7V2:3&678&@i7/<845& <K645& =411/172845F& '4& 61/5W& =4<<4& V3X <[9@4& :i3<72<& 675& /<21257014& 69/8& @/& 5648V4& @21/3& @7:5& /:& V2124/& 967?/4W& =9VV4& 145& V2124/L& @4& =9:;317<29:& q& 0754& @4& 172<F& #7& =91987<29:& :/=137284& q& 1i29@/84& @4& 68962@2/V& 768E5& 1K54& V4V087:7284&4<&17&@3<48V2:7<29:&314=X <89:2?/4&@/&:9V084&@4&:9K7/L&=919835& 8468354:<4& 7=</4114V4:<& 17& V3<[9@4& 17& 61/5& 8762@4& 4<& 17& V92:5& 0272534&& Mc9[7:559:$6)$23#W&^NN]UF
'7:5&14&5648V4&>8725W&17&=9:=4:<87<29:& 4:& 5648V7<9m9x@45& 45<& [702</4114V4:<& =9V68254&4:<84&SdN&4<&QNN&L&SNR&5648X V7<9m9x@45PV1& M.2=J4<<W& STTQUF& )4X 64:@7:<W& 17& =9:=4:<87<29:& @364:@& @/& D91/V4&@4&6175V7&53V2:71&3V25&678&145& ;17:@45&7::4L45&Z&1i4L=2<7<29:&54L/4114& 7/;V4:<4& 17& 53=83<29:& @45& D352=/145& 53V2:7145W& 4:& 7/;V4:<7:<& 14& D91/V4& 4<&4:&@2V2:/7:<&689698<29::4114V4:<&17& =9:=4:<87<29:&M(7;25<82:2&6)$23#W&ST]g&s& .2=J4<<W&STTQ&s&%24V4&6)$23#W&^NNOUF&C:& 3t7=/17<& 3?/2:& =9V6<4& 4:& V9K4::4& SN& V211278@5& @4& 5648V7<9m9x@45W& =4& :9V084& D7827:<& 5419:& 17& >83?/4:=4& 4<& 17&8363<2<29:&@45&83=91<45&M(7;25<82:2&6)$ 23#W&ST]g&s&%24V4&6)$23#W&^NNOUF
#985& @/& 689=455/5& @4& =9:;317<29:W& 14& =/19<&=411/17284&90<4:/&768E5&=4:<82>/X ;7<29:& 64/<& p<84& 61/5& 9/& V92:5& @21/3& 7D4=& 14& V2124/& @4& =9:;317<29:F& #7&
=9:=4:<87<29:& @/& 5648V4& =9:;413& @3X 64:@&@9:=&@45&96<29:5&@4&=9VV48=27X 1257<29:&=[925245&1985&@4&17&689@/=<29:W& V725& 7/552& @4& 17& =9:<872:<4& <4=[:2?/4& 2V69534&678&14&V2124/&@4&=9:;317<29:F& $:& 4>>4<W& 52& 1i9:& /<21254& @45& V2124/L& @4& =9:;317<29:& =9:<4:7:<& @4& 075545& =9:=4:<87<29:5& 4:& 7;4:<& =8K689<4=X <4/8W& 21& >7/@87& V2:2V2548& 14& 876698<& 4:<84& 14& D91/V4& @/& V2124/& @4& =9:;3X 17<29:&4<&14&D91/V4&@/&=/19<&=411/17284& 7>2:& ?/4& 17& =9:=4:<87<29:& 4:& 7;4:<& =8K9689<4=<4/8& :4& 592<& 675& <896& 07554&
=9:;413&=9VV4&3<7:<&@4&[/2<&672114<<45& @4&NWd&V1&M:98V4&>87:u7254W&7D4=&@45& =9:=4:<87<29:5& 4:& 7;4:<& =8K689<4=X <4/8&07554&@7:5&14&V2124/&@4&=9:;317X <29:U&9/&@4&?/7<84&672114<<45&@4&NWd&V1& M:98V45& 7114V7:@4& 4<& 7V382=72:4W& 7D4=& @45& V2124/L& @4& =9:;317<29:& 61/5& =9:=4:<835& 4:& 7;4:<& =8K9689<4=<4/8UW& 7D4=& @45& =9:=4:<87<29:5& 84564=<2D45& SNN& 9/& ^NN& L& SNR& 5648V7<9m9x@45PV1&& M%7V648W&^NNS&s&+2@7V4:<W&^NNdUF&*1&45<& =9:542113& @i2:53V2:48& 7D4=& @45& @9545& =9:<4:7:<&7/&V92:5&ONN&L&SNR&5648V7X <9m9x@45&M+2@7V4:<W&^NNdUF
"&%&$$X93-4-+2$/*0$07*.8,+9;9U/*0
#45& V9/D4V4:<5& @45& 5648V7<9m9x@45& 64/D4:<& p<84& 3D71/35& 7/& V2=895=964& 4:<84& 17V4& 4<& 17V4114& 5/8& /:4& 617<2:4& @4& V2=895=964& =[7/>>7:<4F& G:& @25X <2:;/4&17&V90212<3&<9<714&4<&17&V90212<3& 689;84552D4F& #7& V90212<3& <9<714& =98X 84569:@&7/&69/8=4:<7;4&@4&5648V7<9X m9x@45&?/2&54&@3617=4:<&?/4114&?/4&592<& 14/8& <87t4=<9284F& #7& V90212<3& 689;845X @4& 5648V7<9m9x@45& 54& @3617u7:<& 4:& 12;:4&@892<4F&#i3D71/7<29:&@4&=45&6787X VE<845&45<&>98<4V4:<&1234&q&1i96387<4/8& 4<&5/0t4=<2D4W&=4&?/2&12V2<4&145&=9V67X 87259:5&4:<84&4L7V4:5F&
#45& V3<[9@45& )!%!& M /
U& 9:<& 648V25& @4& 5<7:@78@2548& 145& 4L7V4:5& @4& V90212<3& <9<714& 4<& 689;84552D4& @7:5& /:& VpV4& 170987<9284&4<&@4&=787=<382548&14&5648V4& 7/&V9K4:&@4&61/524/85&6787VE<845&@3X )464:@7:<W&14&V7<38241&@i7:71K54&4<&145& 83;17;45& @4& =45& V7=[2:45& :i3<7:<& 675& 5<7:@78@2535& 4:<84& 170987<92845W& 21& 45<& @45& @2>>384:<5& =4:<845& M_99;4\2t5&& 6)$ 23#W& ^NSSUF& $:& 4>>4<W& :2& 145& D2<45545& V2:2V7145W& :2& 145& <87t4=<92845W& :2& 14& <K64& @4& 17V4& 4<& 14& V2124/& @4& @21/<29:& /<212535& 69/8& 1i7:71K54& @4& V90212<3& :4&
RS 5<7:@78@253& 2V612?/4& V71[4/84/54X
V4:<& @4& ;87:@45& D7827<29:5& @7:5& 145& 835/1<7<5& @i7:71K54& 4<& @9:=& @7:5& 145& ?/712<35&@4&5648V4&=9VV48=271253F& #7& V90212<3& <9<714& 45<& 14& 69/8=4:<7;4& @4& 5648V7<9m9x@45& @9:<& 17& D2<4554& @4& 17& <87t4=<9284& V9K4::4& M
U& @/& =4:<89x@4W& ?/2& 84683X 54:<4& 14& =4:<84& ;39V3<82?/4& @4& 17& <p<4& @/& 5648V7<9m9x@4W& 45<& 5/63824/84& q& SNXSd& VVP5& M!V7::& 4<& H87[7VW& ^NSSU&9/&5/63824/84&q&^N&äVP5&M+2@7X V4:<W& ^NNdUF& '/& 5648V4& 3?/2:& >8725& V72:<4:/&q&Qgï)&7&/:4&V90212<3&<9<714& 689=[4& @4& gN& Å& M!V7::& 4<& H87[7VW& ^NSSUW& V725& 21& 4L25<4& @4& ;87:@45& D7X 827<29:5& 4:<84& 145& 3<719:5& 4<& 3t7=/17<5& 72:52& ?/4& 5419:& 145& =9:@2<29:5& @4& 83X =91<4F&!68E5&@3=9:;317<29:W&17&V90212<3&
<9<714&@92<&76689=[48&145&dN&Å&M!V7::& 4<&H87[7VW&^NSSUF&)464:@7:<W&@7:5&14& 5648V4&>8725&=9VV4&@7:5&14&=9:;413W& 17& V90212<3& <9<714& 45<& 64/& 68254& 4:& =9V6<4& Z& 145& @9545& 59:<& 2@3714V4:<& V7<9m9x@45&689;84552>5F
=9VV4& 14& 69/8=4:<7;4& @4& 5648V7X <9m9x@45& @9:<& 17& D2<4554& @4& 17& =9/804&
V9K4::4& M W&
+!.U& 45<& 5/63824/84& q& SNXSd& VVP5& 7D4=& /:4& 84=<2</@4& M%,-U& M876698<& @4& 17&D2<4554&12:37284&M+%#U&5/8&17&D2<4554& @4& 17& =9/804& V9K4::4& M+!.UU& 3;714& q& SNN& Å& M!V7::& 4<& H87[7VW& ^NSSUF& =9:@2<29:5& @i7:71K54& 17& V90212<3& 689X ;84552D4& =9VV4& 17& 689698<29:& @4& 5648V7<9m9x@45& 7D4=& /:4& +!.& 5/63X
824/84& q& ON& äVP5& 4<& /:4& 84=<2</@4& M%,-U& 5/63824/84& q& ]N& ÅF& 'i7/<845& @3=82D4:<& 17& V90212<3& 689;84552D4& =9VV4& 3<7:<& /:4& +!.& 5/63824/84& q& QN&äVP5&4<&/:4&84=<2</@4&M%,-U&5/63X 824/84& q& dN& Å& MI82:5J9& 6)$ 23#W& ^NNQUF& *@3714V4:<W& 17& V90212<3& 689;84552D4& @/&5648V4&>8725&3?/2:&45<&5/63824/84&q& dNXRN&Å&M!V7::&4<&H87[7VW&^NSSUF )[4m& 1i[9VV4W& /:4& V90212<3& 689;845X 52D4&@4&QN&Å&45<&/:&=82<E84&@4&?/712<3& 768E5& @3=9:;317<29:W& V725& 17& =9:;317X <29:&64/<&7/552&p<84&=9:52@3834&=9VV4& 83/5524& 52& 17& @2V2:/<29:& @4& V90212<3& 689;84552D4& 4:<84& 14& 5648V4& >8725& 4<& =9:;413&45<&2:>3824/84&q&ON&Å&MI89<[48X <9:W&STTN&s&f7D95&6)$23#W&STTS&s&-9K484& 6)$ 23#W& STTR& s& !;78\71W& ^NNNUF& )[4m& 14& =[4D71W& 9:& 90548D4& [702</4114V4:<& /:4&@2V2:/<29:&@4&ON&Å&@4&17&V90212<3& 689;84552D4& 768E5& @3=9:;317<29:W& V725& =4<<4& D714/8& 45<& <8E5& D7827014& 5419:& 14& V2124/& @4& =9:;317<29:& /<21253& 4<& 1i3<7X 19:F&'45&D7827<29:5&64/D4:<&VpV4&p<84& 90548D345& =[4m& 14& VpV4& 3<719:& 4:<84& 145&537:=45&@4&6831ED4V4:<F&'4&61/5W&17& ?/712<3& @i/:& 5648V4& =9:;413& =9VV48X =271257014&@92<&p<84&@3<48V2:34&2:@364:X @7VV4:<&@45&=82<E845&90548D35&@7:5&14& 5648V4&>8725W&=4&?/2&4V6p=[4&@i/<212548& =4&@48:248&=82<E84&69/8&14&5648V4&@i3<7X 19:F&)[4m&14&=[4D71W&21&7&3<3&V9:<83&?/4& 17&V90212<3&689;84552D4&4<&17&D2<4554&@4& 17& <87t4=<9284& V9K4::4& M+!.U& 768E5& @3=9:;317<29:& 3<724:<& =98831345& 7D4=& 17&>48<212<3&M+2@7V4:<W&^NNdUF&%/8&=4<<4& 0754W& 145& _7875& :7<29:7/L& >87:u725& 84X =9VV7:@4:<&/:4&V90212<3&689;84552D4& 5/63824/84& q& Qd& Å& 4<& /:& :9V084& <9<71& @4&5648V7<9m9x@45&689;84552>5&678&@954& 5/63824/8& q& SON& L& SNR& 5648V7<9m9x@45& .)S<$)A0 ,0 80 98@2:7<4/8&M W&)!%!U :)#)YX>#$ 2S#U[B)>B"' +2<4554&@4&17&<87t4=<9284&=/8D212:37284 +)# M U +2<4554&@4&17&<87t4=<9284&4:<84&=4:<89x@45&@7:5&/:& +2<4554&@4&17&<87t4=<9284&V9K4::4 +!. M U +2<4554&@4&17&<87t4=<9284&125534&4:<84&:&6952<29:5&@/&=4:<89x@4&678&2:<48D7114&@4&:&<4V65 +2<4554&@4&17&<87t4=<9284&4:&12;:4&@892<4 +%# M U
+2<4554& @4& 17& <87t4=<9284& 4:<84& ^& 6952<29:5& @/& =4:<89x@4&6825&4:<84&:&2:<48D7114&@4&<4V65 #2:3782<3 #"&M30"62:0)<U +%#P+)# -4=<2</@4 %,-&M U +%#P+!. G5=2117<29: eGI&M U +!.P+)# 9BKA#$0_&Z&<87t4=<92845&7:71K5345&678&145&7:71K54/85&@4&5648V4&75525<35&678& 98@2:7<4/8&M W&)!%!UF
R^
768E5&@3=9:;317<29:&M+2@7V4:<W&^NNdUF& *@3714V4:<W&145&@9545&:4&=9884569:@7:<& 675&q&=4&=82<E84&@4&?/712<3&:4&59:<&675& =9VV48=27125345F&'7:5&=4&=9:<4L<4W&14& =9:=46<& @4& z& =9:;3170212<3& {& M4:& 7:X ;1725&Z&z& &{ &@/&5648V4&@3X 52;:4&17&=767=2<3&@i/:&3t7=/17<&q&p<84&@4& 5/8&0754&@4&57&V90212<3&689;84552D4F& <70147/& **& M+2@7V4:<W& ^NNdU& 6896954& /:&5K5<EV4&@i[78V9:257<29:&@45&@9545& =9VV48=27125345& 5419:& 145& :98V45& @45& _7875&:7<29:7/L&>87:u725F&-3=4VV4:<W&
17& &7&84=9VX
V7:@3&^dN&L&SNR&5648V7<9m9x@45&689X ;84552>5& 678& @954F& #7& =9[702<7<29:& @4&
=9:@2<29:5& @i7:71K54& :4& 59:<& <9/t9/85&
"&?&$$N=,8*(0$8-1.9197-:6*0$ ,7.>0$1949.,+-9($
#i2:7=<2D7<29:& @/& 5648V4& M<K62?/4X V4:<&7/&>98V91U&5/2D2&@4&1i4L7V4:&4:& V2=895=9624&q&=9:<875<4&@4&6[754&648X V4<&@4&@3<48V2:48&17&V986[919;24&@45& 5648V7<9m9x@45& 5/8& 17& 17V4F& '2D48545& =91987<29:5W& @9:<& 14& J2<& 8762@4& '2>>X h/2=JÜW& 648V4<<4:<& 7/552& @i90548D48& 17& V986[919;24& @45& 5648V7<9m9x@45F& )[4m& 1i3<719:W& 17& 689698<29:& @4& 5648X V7<9m9x@45& 7:98V7/L& @92<& p<84& 2:>3X 824/84& q& Qd& Å& M!V7::& 4<& H87[7VW& ^NSSUF& #45& 7:9V71245& 682V72845W& =9VV4&145&7:9V71245&@4&17&<p<4&9/&@4& 17& 62E=4& 2:<48V3@27284W& 59:<& 14& 52;:4& @i/:4& @K5>9:=<29:& @4& 17& 5648V7<9;4X :E54& <7:@25& ?/4& 145& 7:9V71245& 54=9:X @72845W& =9VV4& 145& 7:9V71245& @4& 17& ?/4/4&9/&145&;9/<<414<<45&@25<7145&59:<&
1i4L6845529:& @i4884/85& @4& 83=91<4& M678& 4L4V614W&14&5/84V6192&@4&1i3<719:W&?/2& VE:4&q&1i766782<29:&@4&;9/<<414<<45&=KX <96175V2?/45& @25<7145& 678& V7:?/4& @4& V7</87<29:&362@2@KV7284U&9/&@i4884/85& @4& =9:548D7<29:& @/& 5648V4& =9VV4& /:& =[9=& <[48V2?/4& M.2=J4<<W& STTQ& s& !V7::& 4<& H87[7VW& ^NSSUF& #45& 7:7X 1K54/85& 7/<9V7<2?/45& @4& 5648V4& 648X V4<<4:<&7/552&@i7:71K548&17&V986[919X ;24&V725&145&835/1<7<5&@2>>E84:<&4:=984& <896&59/D4:<&@45&90548D7<29:5&q&1i4L7X V4:& D25/41& MH87D7:=4& 6)$ 23#W& STTgUF& #i4L7V4:& 7/& '2>>Xh/2=JÜ& 648V4<& 4:& X <2?/45& 689D4:7:<& @4& 17& @45?/7V7<29:& @/&<87=</5&;3:2<71F
#i3952:4& 45<& /:& =91987:<& 4:<87:<& @7:5& 145&5648V7<9m9x@45&1985?/4&14/8&V4VX 087:4& 45<& 13534& M#440& 4<& -4::[9>48W& STdO& s& It98:@7[1& 6)$ 23#W& ^NNQUF& #7& =91987<29:&q&1i3952:4X:2;8952:4&648V4<& X 698<29:& @4& 5648V7<9m9x@45& @9:<& 1i2:X <3;82<3& V4V087:7284& 45<& 648@/4F& '4&
X 845=4:=4& @/& :9K7/& 768E5& =91987<29:& 7/& 1i29@/84& @4& 68962@2/V& 648V4<<4:<& @4&@3<48V2:48&14&69/8=4:<7;4&@4&5648X V7<9m9x@45&7K7:<&/:4&V4V087:4&648X V37014& 4<& @4& @9::48& /:& 2:@2=4& @i2:X <3;82<3& V4V087:7284& 4<& @4& D270212<3& Mc9[7:559:&6)$23#W&^NN]UF
"&P&$$Y96)*,6=$19(+.Z4*0$$ /*$:6,4-+2
#45& =9:<8k145& @4& ?/712<3& 7=</415& 84X 6954:<&5/8&14&695</17<&?/i/:&5648V7<9X
m9x@4& 689;84552>& 45<& @4& 09::4& ?/712<3& 4<& ?/4W& 678& =9:53?/4:<W& 21& 69/887& >3X =9:@48&1i9D9=K<4F&)464:@7:<W&/:4&>925& 7882D3& q& 1i9D9=K<4W& 14& 5648V7<9m9x@4& D7& @4D928& /<212548& @i7/<845& 98;7:2<45& 69/8&7==9V6128&@i7/<845&>9:=<29:5&Z&54& 6411/=2@4W& >/529::48& 4<& 1203848& /:4& 2:>98V7<29:& ;3:3<2?/4& :9:& 71<3834F& '2D48545& 5<8/=</845& @/& 5648V7<9m9x@4& 9:<&3<3&3</@2345&Z&9:&64/<&=2<48&1i2:<3X ;82<3& @4& 1i7=8959V4& MG12D4287& 6)$ 23#W& ^NSNUW&1i2:<3;82<3&@4&1i!'"&MI7/V048& 6)$ 23#W& ^NNQUW& 17& >9:=<29:& V2<9=[9:X @82714&MG8<4;7&A488/5917&6)$23#W&^NNT0UW& 1i2:<3;82<3& V4V087:7284& MG12D4287& 6)$ 23#W& ^NSNU& 4<& 145& 2:@2=45& V986[9V3X <82?/45& ?/2& 3D71/4:<& 17& >98V4& ;39V3X <82?/4& @/& 5648V7<9m9x@4& MH87D7:=4&& 6)$23#W&STTgUF&
#i7:71K54& 678& =K<9V3<824& @4& >1/L& 648V4<& @4& 5<7:@78@2548& 1i2:<48683<7X
@2>>384:<45& 678<245& @/& 5648V7<9m9x@4& M+78:48W&^NN]UF&84=9/85&q&=45&<4=[X :2?/45&648V4<&@i7/;V4:<48&14&:9V084& @4&6787VE<845&3</@235&@7:5&14&5648V9X ;87VV4& 4:& @9::7:<& /:& 7648u/& 61/5& =9V614<&@4&17&?/712<3&@/&5648V4F&)45& V3<[9@45& 9:<& @3tq& V9:<83& /:& ;87:@& 2:<38p<& =12:2?/4& Z& =[4m& 1i[9VV4W& 17& >87;V4:<7<29:& @4& 1i!'"& 45<& 841234& q& 17&>48<212<3&@/&5648V4&M$D4:59:&4<&c95<W& ^NNNU&4<&=[4m&14&=[4D71&14&69<4:<241&@45& V2<9=[9:@8245& @7:5& 14& 5648V4& >8725& 648V4<&@4&683D928&17&?/712<3&@/&5648V4& 768E5&@3=9:;317<29:&MG8<4;7&A488/5917& 6)$23#W&^NNT0UF&)464:@7:<W&145&D714/85& 4<& 145& 54/145& 90548D7<29:5& =9[384:<45& .)S<$)A0,,08
!#B>X#$ ,'(B*$
"9V084&@4&5648V7<9m9x@45&69/8&17&57259:
!yyy ñ&Q&L&gdN&L&SNR&592<&^W^d&L&SNT&5648V7<9m9x@45&69/8&Q&=K=145
!yy ñ&^&L&gdN&L&SNR&592<&^W^d&L&SNT&5648V7<9m9x@45&69/8&^&=K=145
!y ñ&S&L&gdN&L&SNR&@7:5&^&672114<<45&69/8&/:&=K=14 I Å&@4&V90212<3&8762@4&4:&@3=9:;317<29: ! ñ&Qd&Å I Å&@4&;1K=3891&@7:5&17&672114<<4 ! ó&O&Å I KKK
RQ 54& >9:<& 4:& =9V6787:<& /:& 2:@2D2@/& @4&
>48<212<3&2:=9::/4&q&/:&2:@2D2@/&@4&>48X <212<3& =9::/4& M(988411W& ^NNRUW& =4& ?/2& 12V2<4&145&=9V6787259:5&4:<84&3?/2645& 4<&VpV4&4:<84&7:71K545F&
eG003M-H+.2.-Z0+,7,./-0
/.0:/3-:/!.,=/-0
/503/:341H!.,450
MQH,5/0
.9/8&@45&87259:5&2:=9::/45W&^N&Å&@45& 3t7=/17<5&@4&09::4&?/712<3&:4&59:<&675& =9:;4170145&V71;83&1i7V312987<29:&@45& <4=[:2?/45&M+2@7V4:<W&^NNdUF&!=</41X 14V4:<W& 145& 84=[48=[45& 5i9824:<4:<& 5/8& ?/41?/45&:9/D41145&D9245&69/8&7V3129X 848&145&689<9=9145&@4&=9:;317<29:&4<&17& ?/712<3&@/&5648V4&=9:;413FT&!&$Q.2/-1+-9($/*$4,$19(524,3-4-+2$
!=</4114V4:<W& 17& ?/712<3& @/& 5648V4& =9:;413& @i/:& 3<719:& :4& 64/<& 675& p<84& =9:;317<29:&59:<&=9v<4/L&4<&84?/2E84:<& 1i2VV9021257<29:&@4&1i3<719:&4:&=4:<84& @4& 84689@/=<29:W& 1i4V6p=[7:<& @4& 69/85/2D84& 57& =7882E84& 5698<2D4F& '45& V78?/4/85& @4& 17& =9:;3170212<3& 9:<& 3<3& @3=82<5&@7:5&@2>>384:<45&456E=45W&V725& 14/8& /<21257<29:& 845<4& 4:=984& 7:4=@9X
X :2?/45&4<&@/&V7:?/4&@4&84=/1&q&689695& @4& 1i/<212<3& @4& =45& V78?/4/85& 4:& 687X <2?/4&=9/87:<4F
$:&V3@4=2:4&[/V72:4W&61/524/85&V78X ?/4/85&@4&17&=9:;3170212<3&9:<&3<3&3</X @235F&#i3175<754W&/:4&4:mKV4&=9:<4:/4& @7:5&145&:4/<896[2145&45<&/:&V78?/4/8& V725& 675& @4& 17& =9:;3170212<3& M(7:27X .87V7:2J& 6)$ 23#W& ^NNO& s& $;;48<X`8/54& 6)$23#W&^NN]UF&_G%,&M
UW&/:&<45<&3D71/7:<&1i2:<3X ;82<3& @4& 17& V4V087:4& 6175V7<2?/4& 0753& 5/8& 1i4:<834& @i47/& @7:5& 14& 5648X V7<9m9x@4&4:&V2124/&[K69X95V9<2?/4W& :4& 54V014& 675& =988313& 7/L& =787=<3825X <2?/45& 90548D345& 768E5& @3=9:;317<29:& M)[7:& 6)$ 23#W& STTN& s& +91645& 6)$ 23#W& STT^UF& )464:@7:<W& @45& 835/1<7<5& 2:X D48545&9:<&3<3&90<4:/5&1985&@i/:4&3</@4& 695<3824/84&M!82078;& 6)$23#W& STTdUF& X ?/4/8& @4& 17& =9:;3170212<3& @/& 5648V4& [/V72:& MH287/@& 6)$ 23#W& ^NNNUF& .1/5& 83=4VV4:<W& 1i2:<3;82<3& 4<& 17& 5KV3<824& V4V087:7284& 9:<& 3<3& @3<48V2:345& 678& /:4&<4=[:2?/4&52V614&@4&V78?/7;4&@/& 5648V7<9m9x@4& >8725& q& 1i7::4L2:4& +W& $
6)$ 23#W& ^NNOUF& #4& V78?/7;4& @45& 5648X V7<9m9x@45& >8725& 678& 1i7::4L2:4& +& 45<& :3;7<2D4V4:<& =988313& q& 17& ?/712<3& @/&5648V4&768E5&=9:;317<29:&M%29:&6)$ 23#W& ^NNOUF& #7& =9:=4:<87<29:& 4:& ;1/X <7<[29:& 4<& 1i4L6845529:& @45& ;E:45& @4& 17& ;1/<7<[29:& 6489LK@754& MH.LU& S& 4<& OW& 4:mKV45& 83@/257:<& 1i7=<2D2<3& @45& A!GW& 59:<& /:& 689:95<2=& @4& 17& =9:;3X 170212<3&@/&5648V4&[/V72:&M(454;/48& 6)$ 23#W& ^NNOUW& V725& 14& @957;4& @i!-"& @2>>2=214V4:<& /<21257014& 4:& 687<2?/4& ?/9<2@24::4F& #i2:<3;82<3& V4V087:7284& 4<&14&5<7</<&7:<29LK@7:<&54V014:<&@9:=& t9/48&/:&8k14&@3<48V2:7:<&@7:5&14&689X =455/5&@4&=9:;317<29:&4<&5/8&17&?/712<3& @/&5648V4&=9:;413F&!=</4114V4:<W&145& =7/545& 4<& 2V612=7<29:5& 6[K52967<[9X 19;2?/45& @4& =45& V78?/4/85& 90548D345& @7:5&14&5648V4&>8725&5/8&17&?/712<3&@/& 5648V4&=9:;413&59:<&2:=9::/45&4<&14/8& /<21257<29:& 845<4& 4V6282?/4F& '4& 61/5W& VpV4&52&=45&>7=<4/85&@4&=9:;3170212<3& 59:<&3<70125&=[4m&1i[/V72:W&215&59:<&@2>X m99<4=[:2?/45F&
)[4m&14&09D2:W&17&+!.&4<&17&+%#&90X 548D345& 1985& @4& 1i7:71K54& )!%!& @/& 5648V4& >8725& 648V4<<4:<& @4& 683@284& 17& V90212<3& 768E5& @3=9:;317<29:& M'4>92:& 6)$23#W&^NN]UF&)[4m&14&=[24:W&145&2:@2=45& V986[9V3<82?/45& 90548D70145& 4:& V2X =895=9624&9:<&3<3&@3=82<5&69/8&683@284& 14& 835/1<7<& @4& =9:;317<29:& M"/:4mX (78<2:4m&6)$23#W&^NNgUF&)[4m&14&=[4D71W& 64/& @4& >7=<4/85& 683@257:<& 17& =9:;317X 0212<3& @/& 5648V4& 9:<& 3<3& @3=82<5F& C:4& 7:=24::4&3</@4&45<2V4&?/4W&@7:5&]N&Å& @45& =75W& 17& ?/712<3& 768E5& @3=9:;317X <29:& 64/<& p<84& 683@2<4& 678& ?/41?/45& >7=<4/85& 52V6145& Z& 7:71K54& @/& 5648V4& >8725W& =9:=4:<87<29:5& 4:& 6[956[7<754& 71=712:4& 4<& 4:& 689<32:45& <9<7145& MI2<<X V78& 4<& `952:27JW& STT^UF& )464:@7:<W& @45& 3</@45& 695<3824/845& :i9:<& 675& 6/& 683@284& 17& =9:;3170212<3& @/& 5648V4& @i3<719:& 4:& 54& 0757:<& 5/8& 145& /:2?/45& @9::345& @4& 0754& @/& 5648V9;87VV4& Z& D91/V4W& =9:=4:<87<29:W& V986[919;24& 4<& V90212<3& M,98845XI9;;2:9& 6)$ 23#W& STTdUF&!=</4114V4:<W&@7:5&145&=4:<845& m99<4=[:2?/45W&V71;83&17&5314=<29:&@45& 3t7=/17<5& =9:;4170145& 5/8& 14& =82<E84& @4& 17& V90212<3& 689;84552D4& @/& 5648V4& >8725W&^N&Å&@45&3t7=/17<5&59:<&@4&?/7X M+2@7V4:<& 6)$ 23#W& STTg& s& +2@7V4:<W&& ^NNdUF&-3=4VV4:<W&@45&3</@45&@4&=KX 9:<& V9:<83& ?/4& 52& @45& V78?/4/85& 7696<9<2?/45& 3<724:<& 90548D35& @7:5& 145&V2<9=[9:@8245&@45&5648V7<9m9x@45& @/&5648V4&>8725W&17&?/712<3&@4&5648V4&
768E5& @3=9:;317<29:& 3<72<& V7/D7254& MG8<4;7& A488/5917& 6)$ 23#W& ^NNT0UW& 648X V4<<7:<& @4& 683@284& 17& =9:;3170212<3F& @45& 98;7:2<45& @/& 5648V7<9m9x@4& 59:<& 4:&6142:&45598W&V725&7=</4114V4:<W&64/& @4&=4:<845&m99<4=[:2?/45&@256954:<&@4& =4& V7<38241& 4<& =45& 7:71K545& V7:?/4:<& 7/552&@i[78V9:257<29:&4:<84&3?/2645F $:& =9:=1/529:W& 4:& 7:@8919;24& [/X V72:4& 4<& D3<382:7284W& 17& 683@2=<29:& @4& 17& =9:;3170212<3& V7:?/4& @4& V3<[9@45& 52V6145&4<&/<212570145&4:&687<2?/4F
T&%&$$I824-9.,+-9($/*$4,$+*1<(-:6*$ /*$19(524,+-9($
'7:5& /:& 684V248& <4V65W& 145& =9/8045& 4<& 6712485& @4& @45=4:<4& 4:& <4V6387</84& /<212535& 69/8& 1i3<719:& 9:<& 3<3& 4V6282X ?/4V4:<&@3@/2<45&4<&7@76<345&@4&=4/L& /<212535& =[4m& 14& 09D2:F& )45& 3<7645& @4& @45=4:<4& 4:& <4V6387</84& 64:@7:<& 14& =9:@2<29::4V4:<&@4&5648V4&59:<&689X 145&7@76<48&q&=[7?/4&456E=4F&
#i3<764& @4& 84>892@2554V4:<& 4<& @i3?/2X 12087<29:& q& Oï)& 7& 3<3& 3</@234& =[4m& 14& =[4D71F& .78& 4L4V614W& 17& =4:<82>/;7X <29:& q& Oï)& 54V014& @2V2:/48& 17& ?/7X 12<3&@/&5648V4&768E5&@3=9:;317<29:&52& 9:&17&=9V6784&q&=4114&4>>4=</34&^dï)&& M+2@7V4:<& 6)$ 23#W& ^NNN& s& `:96& 6)$ 23#W& ^NNdUF& *1& 7& 7/552& 3<3& V9:<83& ?/i768E5& /:4&=4:<82>/;7<29:&q&^dï)W&14&84>892@25X 54V4:<&q&Oï)&64:@7:<&S^&[4/845&7D7:<& 69/8& 17& V90212<3& 4:& @3=9:;317<29:& M)89=J4<<&6)$23#W&^NNSUF&#i7119:;4V4:<& @4&17&6[754&@i3?/212087<29:&@4&17&<4VX 6387</84&q&Oï)&54V014&@9:=&648V4<<84& /:4& V42114/84& 5/8D24& @45& 5648V7<9X m9x@45&q&17&=9:;317<29:F& #45&=9/8045&@4&=9:;317<29:&59:<&7/552& D2<45545&@4&@45=4:<4&4:&<4V6387</84&4<& @45&6712485&@4&@45=4:<4&9:<&3<3&<45<345F& $:&54&0757:<&5/8&@45&6896823<35&6[K52=9X =[2V2?/45&@/&5648V7<9m9x@4&=9VV4&17& <72114W&14&D91/V4&4<&17&=9V6952<29:&@45& V4V087:45& =411/172845W& 145& =9/8045& <[3982?/45&@4&@45=4:<45&4:&<4V6387</84& 90<4:/45& =[4m& 1i[/V72:& 4<& 14& 031248& 59:<& 5/63824/845& q& XSNNï)PV2:& M)/88K& 6)$23#W&STTOUW&=4&?/2&4:<872:4872<&4:&687X <2?/4&/:4&@45<8/=<29:&@4&17&61/678<&@45& 5648V7<9m9x@45F&'4&:9/D47/L&V9@E145& V7<[3V7<2?/45& 684::4:<& 4:& =9V6<4& 1i95V91782<3W&17&=9:=4:<87<29:&4:&7;4:<& =8K9689<4=<4/8& 4<& 145& <4V6387</845& @4& >98V7<29:&@4&;17=4&2:<87=411/17284&M'4X
