Theorem Proving Modulo Revised Version

HAL Id: inria-00071722

https://hal.inria.fr/inria-00071722

Submitted on 23 May 2006

HAL is a multi-disciplinary open access archive for the deposit and dissemination of sci- entific research documents, whether they are pub-

L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non,

Theorem Proving Modulo Revised Version

Gilles Dowek, Thérèse Hardin, Claude Kirchner

To cite this version:

Gilles Dowek, Thérèse Hardin, Claude Kirchner. Theorem Proving Modulo Revised Version. [Research Report] RR-4861, INRIA. 2003, pp.54. �inria-00071722�

ISRN INRIA/RR--4861--FR+ENG

a p p o r t

d e r e c h e r c h e

INSTITUT NATIONAL DE RECHERCHE EN INFORMATIQUE ET EN AUTOMATIQUE

Theorem Proving Modulo Revised Version

"!#%$&'(*)!#+&$,.-/%01',

No 4861

June 2003

TH `EME 2

!#"!$

%,."!#%$&''& *)!#+&$,.-/%01',)(

*+-,/.10$2436587/9-:;0<>=@?A:>B :;0/<

0 C'B DE<FBG)<IHKJL.4MN=@<>:FOAG)0

PRQS=@TU0CVHWI=@?A:>B/DE<YX[Z\=AH]B=_^_D-XLPRQ]=EC]+-0 =

`D@a-aN=@QSCb-08Q]0/BV+)0 QVBV+-0c94d1eAfAg-h'36iAG-9-0$2EjAj@k$3ml_e1a)DE?A0/H

npo q/r s_t-u@r@v w1xVy_z){ |~}€Eƒ‚/yEz[„; :FH$D†…D‡J\CS=\Q]0 .=_^@0B =@.a-G[CVD_CS:>=@9ˆDE<RDEQ]?@G).10/9‰C]H8Š‹Q]=@.Œa)QS=L=EŠ€H

MLJQ]0/D@HS=@9):;9-?\.=[b[G-<>=DŽB=A9-?@Q]G-0/9)B0=A9a-Q]=@aN=AHS:‘C]:;=A9)H/’”“LG)BV+•D\C]0/BV+-9-:FO‰G-0@X–:FH]HKG-0—b˜Š‹Q]=@.™DEG-CS=Eš

.DECS0/b\CS+-0/=@Q]0 .›a-Q]=_^‰:>9-?ˆX):FHœ=@ŠR?@0/9-0 QVDE<:;9‰CS0/QS0—HUC8Mˆ0—B D@G)HK04:‘Cžaˆ0/QS.:;C]HœCS=HK0/a)DEQVD_C]04B=A.a-G[C]DECS:>=@9)H

D@9)bb[0/b-G)BŸC]:;=A9)Hž:;9D†B <;0—DE9… D‡JA’*+-0¡)QVHUC$B =@9‰CSQ]:;M)G[CS:>=@9=EŠ CS+):>HaˆDEaN0 Q:FHžCS=¢b[0 ¡)9-0D”£ xV¤z)x )|

{V¥E„;{z[„‘z

£

‚—y_z[„>

C]+)D_C?@:>^@0—H¦DŽa-QS=L=@ŠCS+-0/=@Q]0CS:FBD@B B =@G-9‰C4=@ŠCS+)0B =@.4M):;9)DECS:>=@9=@ŠœB=A.a-G[C]DECS:>=@9)H

D@9)bb[0—b[G)BŸC]:;=A9)H/’*+)0'B=A9-?@Q]G-0 9ˆB0=@9a)QS=Aaˆ=‰HK:;CS:>=@9)HR:>H§+)DE9)b-<;0—b^‰:FDQ]0 …Q]:‘C]0QSG)<;0—H§DE9ˆb0/O‰G)D_C]:;=A9)DE<

DE¨[:;=A.H/’`0 …Q]:‘C]0QSG)<;0—HDEa-a-<>JC]=CS0 Q].HM-G[C'D@<>HS=1b-:;Q]0/BCS<>JCS=DECS=@.:FB8a-QS=Aaˆ=‰HK:;CS:>=@9ˆH ’

*+-0©HK0—B=@9ˆbªB=@9‰C]QS:>M-G[C]:;=A9•:FHC]=?@:>^@0¢DƒB=@.a-<>0C]0¢a-Q]=L=EŠHK0—DEQVBV+•.0 CS+-=[b«XB/DE<><;0—b­¬–® |¯x NyAx]y

° ¥_±Ÿ±SE²–}³‰´¥ENy\µœx £ _„‘z[|~}€E·¶€¸§¹'º `'»ŸXRŠ‹=@Q¦CS+-0/=@Q]0 .™a-Q]=_^L:;9-?©.=Lb-G-<;=HSG)BV+¼B =@9-?AQSG-0/9)B0—H ’˜*+-0

B =@.a-<>0C]0 9-0—HSH!=EŠ[CS+):>H .0C]+-=[b:>Ha-Q]=_^@0—bž…:‘C]+$QS0—HKaN0/BC!C]='a-Q]=_^_DEM-:><;:;CUJ8:;94HS0/O‰G-0/9‰C B D@<>B G-<>G)HI.=[b[G-<>=)’

º 94:>.1aN=@QSC]D@9‰CDEa-a)<;:FB DECS:>=@9:FHIC]+)D_C +-:;?A+-0 QSš¯=@QVb[0 Q«<>=@?A:>BRB/DE9$MN0§a)QS0—HK0/9AC]0/bDAH!DC]+-0 =AQSJ8:>94b[0/b-G)BŸš

C]:;=A9.=Lb-G-<;=ˆ’ º a-a-<>JL:;9-?$CS+-08¬R® |½x Ny@xVy ° ¥E±Ÿ±S_²–}³L´¥_¾yœµœx £ _„‘z[|~}€E .0CS+)=Lb1C]=CS+):>H§a-QS0—HK0/9‰C]D_C]:;=A9

=@Š+-:>?@+)0 QSšY=AQ]b[0/Q¿<>=@?A:>BžHSG-M)HSG-.0/H Š‹G-<><!+):;?A+-0 QSšY=AQ]b-0 Q QS0—HK=A<;G[C]:;=A9I’

À\Á‰Â¾Ã]Ä4Å

s_Æ q@vmº

G-CS=@.DECS0/b¢CS+-0/=@Q]0 .›a-Q]=_^L:;9-?ˆX)Q]0 …Q]:‘C]:;9)?)X¾QS0—HK=A<;G-CS:>=@9IXN9)DEQ]Q]=_…:;9-?ˆX-+-:>?@+-0/QKš¯=@QVb[0/Q

<>=@?A:>B@X[BG[C0/<;:>.:;9)DECS:>=@9IXˆb[0/b[GˆBŸCS:>=@9†.=[b[G-<>=)X-HS0/O‰G-0/9ACB/DE<FBG-<>G)H.=[b[G-<>=)X)HSÇ@=A<;0/.1:>È/DECS:>=@9I’

ÉFÊ«ËS̯Í/ÎËÏ Ð>̯ÑYÒÓ

ÔRÕ‹Ö ×Iճ؝ً×IÚ/ÛUÜ Ý‡ÞU߇ÛUڟ݇à‹áSâ‰ã äå-ä@æKçŸè—â@éVê—æKèŸëìLÞ§í¾î‡ÞUï~ß_ðKñží¾ÞKò—ÞUó@â_ô_à~ðV߇ÛUޟâAõ öø÷ø÷øÞKïKäù ÚSú¾ÞKû—ü öø߇à€öýð—äþ>à

ÿ

ì‰Õ‹åžðV߇ò1Õ‹Ö ×Iճ؝ً×IÚ/ÛUÜ Ý‡ÞU߇ÛUڟ݇à‹áSâß‡öÞUà€ïYöáœå-ðVà€öøï—â ‡âˆå)÷ýðVÛKޟ݇ï~ïYöøÞU݉âˆéVèŸè$å-ðVà~öøï í¾ÞUò‡Þ½óçŸè—â-ô_à~ðV߇ÛUޟâ

î—ÞKà€ÞUïYޟä ðVà€ò‡öøßEü ÷øö—äþ>à

ì ×IճؼðVߗò¦Õ‹Ö×!ճاâ—æKè—â[à€Ý‡Þò‡ÝðVà~ò—öøß1ã¾ÚVáYðV߇öøÜ Ý‡ÞŸâ)ã äå-ä)æKç—æŸâ-èŸç öø÷ø÷øÞKà€ï~ÙF÷Kï€Ù‹Ö ðVߗÛUñí¾ÞKò—ÞUó@â[ô_à~ðV߇ÛUޟâ

í«÷ýðVݗò‡ÞŸäöøà~Û¯î—߇ÞUà¯ü ÷øڟà€öýð—äþ>à

Unit´e de recherche INRIA Rocquencourt

"!$

q v WDSb[7—b[G)BŸC]:;=A9©.=[b[G-<>=10/HKCžG)9©.=_J@0/9©b[0HSG-a-a-Q]:>.10/Q<;0—H8a-+)D@HS0/Hžb[0B/DE<FBG-<RD@a-a)D_š

QVDE:FH]HSD@9AC b-DE9)H¿<>0/H b[7 .=@9ˆHUC]Q]DECS:>=@9)H¿0 9Q]D@:>HS=@9-9ˆDE9‰CR.=Lb-G-<;=1G-9-0žB=A9-?@Q]G-0/9)B0'b-7/BQ]:>^‡D@9‰C¿<>0/HB D@<>B G-<>H

0N0—BŸC]G-7/HHKG)Q<>0/HpCS0/QS.0/H0C<;0—Hpa)QS=Aaˆ=‰HK:;CS:>=@9)H/’¿0 CKCS0©CS0—BV+-9-:FO‰G-0@X:FH]HKG-0”b[0Ž<FDƒb-7 .=@9)HKCSQVD_C]:;=A9

D@G[CS=A.D_CS:FO‰G-0@X'0/HKCbG-9-0”aˆ=AQKC]7 0©a-<;GˆHp?A7 9-7/Q]D@<;0ŽB/DEQ0 <><;0©aˆ0/QS.0 C†b:Fb[0 9‰CS:;¡)0/Q0 C†B =@.4M):;9-0/Qp<>0/H

a)+)D@HS0/H8b[0Q]D@:>HS=@9)9-0 .0 9‰C80Cž<;0—Hœa)+)D@HS0/Hžb[0B D@<>B G-<~’¦W!Da-QS0/.:;,/QS01B=@9‰C]QS:>M-G[C]:;=A9©b[0B01a)DEa):;0/Q80—HUC

<FDb[7¡ˆ9-:‘C]:;=A9ªbG)9 {]¥E„;{ z[„œy@x ££ ¤ z)xˆ|£ ‚—y_z[„; aˆ0/QS.0CSC]D@9AC<FD˜B=A.4M-:>9)D@:>HS=@9•b[GªB DE<FBG)<0Cpb[0

<FD†b[7/b-G)BŸC]:;=A9I’pW!D†B =@9-?AQSG-0/9)B0HSG-Q<;0—Ha-Q]=@aN=AHS:‘C]:;=A9)H80/HKC4b[7¡ˆ9-:;0aˆDEQG-90 9ˆHK0/.4M-<>0b[0QS,/?@<>0/Hb[0

Q]7 7—BQ]:‘C]G-Q]00CbDE¨[:;=A.10—HR7—OAGˆD_CS:>=@9)9-0 <FH ’WI0—H§Q], ?A<;0—H§b[0œQS7/7/B QS:;CSG-Q]0'HD@a-a-<>:>O‰G)D@9‰C§:>B :ˆ9)=@9pHS0 G-<>0 .0/9AC

HSG-Q<>0/H C]0 Q].10—H.DE:FHDEG)H]HK:IHSG-Q<>0/Ha)QS=Aaˆ=‰HK:;CS:>=@9)H/’

WD8HS0/B =@9)b-0B =@9‰CSQ]:>M-G[CS:>=@9b[0B0 C]Q]D‡^_DE:><[0/HKCRb[0b[=@9)9-0 Q–G-9)0.17 CS+-=[b[0B =@.a-<>,C]0b-0b-7 .=@9)HKCSQVD_š

C]:;=A9D@G[CS=A.DECS:FO‰G-0@XLDEa-aN0 <><>7 0S“LG)QSQ]7/b[GˆBŸCS:>=@9p0CQS7—HK=A<;G[C]:;=A97C]0 9)b[G)0/H ¶‹¸§¹œº `'»X[.=Lb-G-<;=b[0œCS0/<;<>0/H

B =@9-?AQSG)0 9)B 0/H/’4W!DB=A.1a)<;7 CSG)b[0b[0B 0CKC]0.17 CS+-=[b[00—HUC7CVDEM-<>:>0¦0/9”HS0M)D@H]DE9‰CHKG-Qž<FDpa)QS=AG-^_DEM-:><;:;CS7

b)DE9)H<>0$B D@<>B G-<Ib[0/HHS7/O‰G-0/9‰C]H.=[b[G-<>=)’

'9-0'DEa)a-<;:FB DECS:>=@9:>.aˆ=AQKCVDE9‰CS0B =@9)B 0 Q]9-0<>Dž<>=@?A:>O‰G-0b=AQ]b[Q]0HKG)aˆ7/QS:>0 G-Q O‰G-:-aN0 G[CCSQ]0Q]0 a-Q]7/HS0 9-š

C]7 01B=@..0$G-9)0$CS+)7 =@Q]:>0$0 9Žb-7/b[G)BCS:>=@9\.=[b[G-<>=)’'WD@a-a-<>:>B/D_C]:;=A9¢b[04<FD.7C]+-=[b[0¦b[0¦QS0—BV+-0 QVBV+-0$b[0

a)QS0/G-^@0 ¸§¹œº `B 0CSCS0$a-Q]7/HS0 9‰CVD_CS:>=@9\b[04<>D<>=@?A:>O‰G-0b=@QVb[Q]0$HKG)aˆ7/QS:>0 G-Q'aˆ0/QS.0C8DE<>=@QVHb0¨[a-Q]:;.0 Q

<FD1QS7—HK=A<;G-CS:>=@9b=AQ]b[Q]0HKG)aˆ7/QS:>0 G-Q—’

Å

r—q

Ã

u!

v "

7 .=@9ˆHUC]Q]DECS:>=@9DEG[C]=@.D_C]:>O‰G-0AXQS7/7/BQ]:;CSG-Q]0@X8QS7—HK=A<;G-CS:>=@9IXHSG-QSQ]7/b-G)BŸC]:;=A9IXž<;=A?@:FOAG)0

b=AQ]b[Q]0pHSG-aN7 Q]:;0/G-Q/X–7/<;:>.:;9ˆD_CS:>=@9•b[0/H1B=AG-a-G-Q]0/H/XRb[7—b[G)BŸC]:;=A9ƒ.=[b[G-<>=)XRB/DE<FBG-<b[0—H¦HS7/O‰G-0/9ACVH4.=[bLš

G)<;=ˆX-HKÇA=@<>7 .:>H]D_C]:;=A9I’

! $

, + %' ' ! + ! $ ,'

¯Š¿<;0 Cž<>=L=AHS0@X¾G)HSG)DE<–D@G[CS=A.DECS0—b\CS+)0 =@Q]0 .›a-Q]=_^L:;9)?p.0C]+-=[b-HžHKG)BV+”D@HœQS0—HK=A<;G-CS:>=@9Ž=AQ'CVDEM-<>0/D@G[¨¢B D@9

MN0^A0 Q]JŽ:>9-0 !B:>0 9‰C—XHSaN0 9)b[:>9-?\C]:;.0:;9C]QS:>^L:>D@<¿b[0—b[G)BŸC]:;=A9)H/’#")=@Q$:>9)HKC]D@9)B0AXC]QSJL:>9-?†CS=Ža-QS=_^A0CS+-0

a)QS=Aaˆ=‰HK:;CS:>=@9 $

%'&)( *+&

$,$

-&/.0*&)1*23%4&

$5$

(&)-6*+&

$

.7&)1*,*

…:;CS+C]+-0$D@H]HK=[B :>DECS:>^‰:;CUJD_¨[:>=@.

8:98;<8=

$,$

9 & ;

*+&

= 2 9 & $; & =

*5*

D@9)bpCS+-0:Fb[0 9‰C]:‘CUJD_¨[:;=A.

89#9

2 9

D¢9)DE:>^@0a-Q]=@?AQ]D@.Œ.D‡J”0 9)b[<>0/H]HS<;J”QS0—DEQ]Q]D@9-?@01M-QVD@BVÇA0C]H$Mˆ0 Š‹=@Q]0¡)9)b[:>9-?\C]+-0pQ]:>?@+‰C¦b[0/QS:>^_D_CS:>=@9!’> ½9

B =@9‰CSQVD@HKC/X +LG-.DE9)H4…¿=AG-<Fb”CS+-:>9-ǔCS+)DEC4C]+-:>H¦a-Q]=@M-<>0 . Q]0/O‰G-:>QS0—H9-= yAx]yEz){|Y}€_ XRM-G-C¦QVD_CS+)0 QTUG)HKC1D

{VE‚?¾z[|¯¥E|~}€E ’†*+-0 J©…¿=AG-<Fb”D@a-a-<>J©D\b[0 CS0/QS.:>9-:>HKCS:FBD@9)b©CS0 Q].:;9ˆD_CS:>9-?¢D@<;?A=@Q]:‘C]+-. CS=¢BV+)0/BVÇ¢C]+)D_C

C]+-0/HS0CU… =CS0/QS.H8DEQ]0žCS+-0H]DE.0$.=[b[G-<>=pD@H]HK=[B :>DECS:>^‰:;CUJ@’@'0 9)B 0$C]+-0¦b[:FHKCS:>9)BŸC]:;=A9¢Mˆ0 CU…¿0/0 9¢B =@.a-G[š

CVD_C]:;=A9D@9)bb[0/b-G)BŸC]:;=A9HK0/0 .HžCS=ŽMˆ0=@Š a)QS:>.0:;9‰CS0/QS0—HUC¦…+-0 9˜HS=@<>^‰:>9-?\.D_C]+-0 .DECS:FB DE<§a-QS=AM-<>0 .H ’

¿=A.a-G[C]DECS:>=@9)HQ]0/O‰G-:>Q]0§TUG)HKCM-<>:;9ˆb0 ¨[0/BG-CS:>=@9†…+-:><;0b[0—b[G)BŸC]:;=A9)H9-0/0/b9-=A9[š¯b-0CS0/QS.:>9-:FHUC]:>BžHS0/DEQVBV+I’

¿=A.1a)G[C]DECS:>=@9pB/DE9MN08b[0 ¡)9-0—bG)HS:;9-?¦D4b[0—B:Fb-DEM-<>0'B =@9-?AQSG-0/9)B0'=@9a-Q]=@aN=AHS:‘C]:;=A9)HBA!:>9CS+)0'0¨-D@.¦š

a)<;0'D@Mˆ=_^A0CS+-:FH§B =@9-?AQSG)0 9)B 0:>b[0/9‰CS:;¡)0/H§a-QS=Aaˆ=‰HK:;CS:>=@9ˆH–0/O‰G-:>^_DE<>0 9‰CR.=Lb-G-<;=4QS0—DEQ]Q]D@9-?@0/.10/9‰C=@Š«M-Q]DABVljš

0 C]H/’R“LG)BV+†b[0/B :>b-D@M-<>0žB =@9-?AQSG)0 9)B 0/H B DE9=EŠ³C]0 9Mˆ0b[0 ¡)9-0/bMLJpB=A9DC)G-0/9‰CD@9)bC]0 Q].:;9)DECS:>9-?HKJ[HKCS0 .H

=@Š¿Q]0 …Q]:‘C]0¦Q]G-<>0/H/’ ½9HS=@.0B D@HS0/H/X«0/O‰G)DECS:>=@9)D@<–D_¨[:;=A.H8B/DE9DE<FHK=MN0B =@9)HS:Fb[0 Q]0/b«’

"

0/b[G)BCS:>=@9B D@9

MN0$b[0 ¡)9-0/b†GˆHK:>9-?:>9[Š‹0 Q]0 9)B 0QSG)<;0—HDE9)b†D_¨[:>=@.H/X-D@H:;C:>H:;9¢HS0/O‰G-0/9AC'B/DE<FBG-<>G)H/X[9)D_C]G-QVDE<!b[0—b[G)BCS:>=@9IX

@':;<>MN0 QSCH§HSJLHKCS0/.H Xˆ’ ’ ’ " 0—b[G)BCS:>=@9Q]G-<;0—HRDE9ˆbB=@.a-G-C]D_C]:;=A9QSG-<>0/H§HK+-=AG-<Fb9-=EC§MN0'B =@9[Š‹G)HS0/bDAHCS+)0 J

.=[b[0/<«^@0 Q]Jpb[:¾0 Q]0 9‰CD@BŸC]:;^L:;CS:>0/H/’

º G[CS=A.DECS0—bCS+)0 =@Q]0 . a-Q]=_^L:;9-?4.10 CS+-=[b-H¿MN0 9-0 ¡-C¿Š‹Q]=@. HSG)BV+pD$b-:>HKCS:>9)BŸC]:;=A9pMN0CU… 0 0/9pb[0/b-G)BŸC]:;=A9

D@9)bB=@.a-G-C]D_C]:;=A9I’E"-=AQ:;9)HKC]D@9)B0AXLCS+-0$DAHSHS=[B:FD_C]:;^L:;CUJDE¨[:;=A. B D@9MN0QS0/a-<FD@B0—bMLJC]+-0QS0/…QS:;CS08Q]G-<;0

$9 & ;

*+&

=FG9

& $; & = *

*+)0 9IX[C]+-0a-Q]=@aN=AHS:‘C]:;=A9

H

$,$

%'&I( *&

$,$

-&).0*&/1*23%4&

$,$

(J&)-6*&

$

.4&/1*5*,*

Q]0 …Q]:;CS0/H¿C]=

H $

%'&

$

(J&

$

-&

$

.4&/1*5*,*23%4&

$

(E&

$

-&

$

.7&)1*,*5*,*

C]+)D_C?A:;^A0/Hb[:>QS0—BŸC]<;JpD1Q]0Š‹G[CVD_C]:;=A9…:;CS+C]+-0$B<FDEG)HS0

9 2 9

¸ D@BV+ŽHKCS0/aŽ=EŠ§CS+-01QS0/…QS:;CS:>9-?pb-0 Q]:;^_D_C]:;=A9ŽB D@9ŽMN01HS:>.4G-<FD_C]0/b\:>9ŽQ]0/HS=@<>G[CS:>=@9\…:;CS+©CS+)01DAHSHS=[B:FD_CS:>^L:‘CUJ

DE¨[:;=A. DE9ˆb8CS+-0 D_¨[:;=A.H«=EŠ[0/O‰G)D@<;:;CUJ@’K¿G-C/X‡G-9-<>:;ÇA0–CS+)0¿HS0/DEQVBV+8Š‹=@Q!DQS0 Š‹G[C]DECS:>=@9$b[0/QS:>^_D_CS:>=@9!X/Q]0 …Q]:‘C]:;9)?

B/DE9MN0G)HS0/b:>9D¢b[0C]0 Q].:;9-:FHKCS:FB… D‡JAX!a-Q]=_^L:>b-0/b©CS+-0pQS0/…QS:;CS0HSJ[HUC]0 . :>H$B =@9DCˆG-0 9‰C/’>@'0 9)B 0@X CS+-0

Q]0 …Q]:;CS:>9-?1b-0 Q]:;^_D_C]:;=A9b-=‰0—H CS+-0TU=AM†=EŠ

¥_„³„

CS+-0.0/9AC]:;=A9-0/bQ]0Š‹G[CVD_C]:;=A9b[0/QS:>^_D_C]:;=A9)HD_C=@9ˆB0@’

½9C]+-00 ¨[D@.a-<;0¼DEMN=_^@0@X$B =@.a-G[CVD_C]:;=A9QSG-<>0/H©DEa-a)<;J CS=ªC]+-0C]0 Q].H¢=EŠC]+-0ƒ<FDE9-?AG)DE?A0@’

º H

D@<;Q]0/DAb[J Q]0 .DEQ]Ç@0—b MLJ “¾’i)’WI0 0AX " ’pPR<FDE:FHUC]0/b DE9)b›`’pP =@CKC]0 QPR<>D@:>HKCS0—b†DE9)bP=ECKC]0 Q—XIh-h_X

W!0 0DE9ˆbpPR<FDE:FHKCS0/bIXIhEe§HSG)BV+¢Q]G-<;0—HžB DE9”DE<FHK=DEa-a)<;JCS=CS+)01a)QS=Aaˆ=‰HK:;CS:>=@9)Hœ=EŠ§CS+-01<>D@9-?@GˆDE?@0A’WI0C

GˆHŠ‹=@Q0 ¨[D@.a-<;0B =@9)HS:>b-0 QCS+)0$D_¨[:;=A.H!

$"

#$

* X "

&%X

$

'%X(X

H

%’R*+-0/QS0$D@QS0ž.DE9LJ

…D‡J[H XA0/O‰G-:>^_DE<>0 9‰C¿G-apCS=¦aˆ0/QS.¦G[C]DECS:>=@9=@ŠIa-QS=L=@Š!HUC]0 a)H/X@C]=¦Q]0Š‹G-CS0'MLJQ]0/HS=@<>G[CS:>=@9:;C]HB<FDEGˆHSD@<)^_DEQ]:>D@9‰C

H

*)

" )$ H "

)+

H $ )+

H "

),%

H

%-)

" H $

),%

H

%-)

$ H %

K G[CœCS+-0¦a-Q]=@aN=AHS:‘C]:;=A9./

$"

#$

*

B/DE9¢MN0¦B =@9)HS:Fb[0 Q]0/b\DAH'Db[0 ¡)9-:;CS:>=@9¢=@Š DE9)b¢HS:>.1:><FDEQ]<;JCS+-0

a)QS=Aaˆ=‰HK:;CS:>=@9)H

"

0%·D@9)b

$

1%¼DAH'b[0 ¡)9-:;CS:>=@9)H'=EŠ

"

DE9ˆb

$

’*+-:FHaN0 Q].:‘CVHC]=pHKG)a-a-Q]0/H]HCS+-0—HK0

DE¨[:;=A.HD@9)bCS=…¿=AQSÇ.=[b[G-<>=CS+)0$B=@9)?@Q]G-0 9)B 08b-0¡)9-0—bM‰JCS+-0Q]0 …Q]:‘C]0œQ]G-<>0/HBA

F "

#$

" F %

$ F %

CS+)DECŠ‹=@Q]. DB=A9DC)G-0/9ACD@9)bC]0 Q].:;9)DECS:>9-?QS0/…QS:;CS0HSJ[HUC]0 . =A9a-Q]=@aN=AHS:;CS:>=@9)H/’“[==@9-<>JCU… =¦a-Q]=@aN=Eš

HS:;CS:>=@9)H¿QS0/.DE:>9+A2 DE9)b

H

%’–*+-0œa)QS=Aaˆ=‰HK:;CS:>=@93G)9[Š‹=@<Fb-H

¶

:Y’0A’LQS0/…QS:;CS0—H]»–CS=

"

#4$

CS+-0/9CS=5%

#4$

D@9)bC]+-0 9CS=3%

#

%’–*+-0žB<FDEG)H]DE<NŠ‹=AQS. =@Š!CS+):>H a-Q]=@aN=AHS:‘C]:;=A9p:FH%˜C]+)D_C?@:>^@0—H¿b-:;Q]0/BCS<>JD4Q]0Š‹G[CVD_C]:;=A9

…:;CS+CS+-0žB<FDEG)HS0

H

%’ º ?ADE:>9IX‰0/DABV+pHUC]0 a=@Š«CS+-0œQS0/…QS:;CS:>9-?4b-0 Q]:;^_D_C]:;=A9B=AQSQ]0/HSaˆ=A9)b-HRCS=4D4QS0—HK=A<;G[C]:;=A9

HKCS0/a\:;9¢CS+-04¡)Q]HKC'a-Q]0/HS0 9‰CVD_CS:>=@9!X)M-G[C8G-9-<>:;ÇA0CS+)0¦HS0/DEQVBV+Š‹=@QœDQS0 Š‹G[C]DECS:>=@9¢b[0/QS:>^_D_CS:>=@9!XˆQ]0 …Q]:‘C]:;9)?:>H

b-0CS0/QS.:>9-:FHUC]:>B8…+-0/9C]+-0Q]0 …Q]:‘C]0žHSJ[HUC]0 . :FHB =@9DC)G)0 9‰C/’

*+-0—HK00 ¨-DE.a-<>0/HD@QS0HKCSQVDE:>?@+‰CKŠ‹=AQS…DEQVbD@HCS+-0a-Q]=@aN=AHS:;CS:>=@9)H:>9L^@=@<>^@0—bp:>9†CS+)0$b[0 Q]:;^_DECS:>=@9)HB =@9[š

CVDE:>99)=^‡D@QS:FDEM)<;0—H ’JK G[C/X-:;Š…¿0ž…DE9‰CCS=a-Q]=_^@0œCS+-0a)QS=Aaˆ=‰HK:;CS:>=@9

609760;

$,$

%4&I( *+&

$9

&/1*2 %'&

$,$

(E&

;

*&

$

.7&)1*,*,*

GˆHK:>9-?1CS+-0$DAHSHS=[B:FD_C]:;^L:;CUJD_¨[:;=A.†X[…¿0ž.D‡JQ]0 …Q]:‘C]0œ:;C:;9‰C]=

609760;

$

%'&

$

(E&

$9

&)1 *5*2 %'&

$

(E&

$; & $

.4&/1*,*5*,*

M)G[C…¿0B/DE9-9-=@CM-G-:><>b†D1QS0 Š‹G[C]DECS:>=@9Š‹Q]=@. C]+-0$B<FDEG)HS0/H

H $

%'&

$

(J&

$9

&/1*5*23%4&

$

(J&

$; & $

.7&)1*,*5*,*

= 2 =

HS:>9)B0 CS+)0HUCVDE9)b-D@Q]b¦G-9-:;¡ˆB/D_CS:>=@9D@<;?A=@Q]:‘C]+-.cb[=L0/H–9)=EC KHS0 0 ¿C]+)D_CR:>9)HKC]DE9‰C]:>DECS:>9-? 9 M‰J

- & .

DE9)b ; MLJ

-

aN0 Q].:‘CVH'D9-0/…QS0—b[G)BŸC]:;=A9\=EŠ CS+-0¦a-Q]=@aN=AHS:‘C]:;=A9I’¿*+-:FHa)QS=AM-<;0/. +)DAHMN0 0/9¢HK=A<;^A0/bMLJ51’NPR<;=@CSÇL:>9

PR<>=EC]lj:>9IXIh89@2§MLJ¢CS+)0:;9‰C]QS=[b[G)BCS:>=@9=EŠ xV¤z)¥E|~}€EN¥E„§z[)}: {V¥_|Y}€_ ’*+-:FH:>b-0/D†<>0/b˜D\b[0—B D@b-0<>DECS0 Q

C]=$C]+-0œHS=Eš½B D@<;<>0/b xV¤z)¥E|~}€EN¥E„N±]x £ _„‘z[|~}€E D@9)b.=@Q]0?@0/9-0 QVDE<><;J¦CS= | x]E±<;¦±]x £ _„‘z[|~}€E ø“‰CS:FBVÇ@0/<~XIh8@f‰lY’

*+):>H:>b-0/Dœ+)D@H DE<FHK=œMˆ0/0 9¦0¨[a-<>=@:;CS0/b$:;94C]DEM)<;0—DEG[¨$.0C]+-=[b-H ¶HS0 0AX‡Š‹=@Q :;9)HKC]D@9)B0AX=5žD@<;<>:>0 Q0CD@<~’>XIhAf>LX

" 0 ?@CUJAD@QS0/^D@9)b?–=@Q]=@9-ÇA=_^¾XL2@j@j-h@‹»Ÿ’

º

<‘C]+-=@G-?A+¢C]+-0 J¢D@QS0$9)=ECžG-9-:;¡ˆDEM-<>04:>9¢C]+-01=@QVb[:;9ˆDEQ]JHS0 9)HS0@XNC]+-0/HS04a-Q]=@aN=AHS:;CS:>=@9)HœDEQ]040/O‰G)DECS:>=@9[š

D@<;<>J”G-9-:;¡ˆDEM-<>0@’# ½9[Š‹=AQS.D@<;<>J@X Š‹=@Q¦DE9˜0/O‰G)DECS:>=@9)D@<–CS+)0 =@Q]JRX–D«š¯G-9-:;¡ˆB DECS:>=@9˜a-Q]=@M-<>0 . B=A9)HS:>HKC]H=@Š

0—O‰G)D_C]:;=A9)H8=EŠ CS+-0Š‹=AQS.

2

D@9)bDHS=@<>G[C]:;=A9©=@Š HSG)BV+˜DE9”0/O‰G)D_C]:;=A9©:FHD†HKG)M)HUC]:‘C]G[CS:>=@9 •HKGˆBV+

C]+)D_C D@9)b DEQ]0œ0—O‰G-:;^_D@<;0/9AC.=[b[G-<>=R’

¸ O‰G)DECS:>=@9)D@<¦G)9-:‘¡NB D_C]:;=A9 i@=AG)DE9-9ˆDEG)bDE9)bž:>Q]BV+-9)0 Q—XNh8>)h@1.D‡J Mˆ0•G-9)b[0—B:Fb-DEM)<;0¼=@Q©O‰G-:;CS0

B =@.a-<>0¨«’ K G[CŠ‹=AQKC]G-9)D_C]0 <>J b[0—B:Fb[:>9-?›G-9-:;¡ˆDEM-:><>:‘CUJ B D@9 MN0 aN=AHKCSaN=@9-0—b D@9)b .=Lb-G-<>D@QS:>È 0—b

MLJ C]+-0cG)HS0=EŠ˜B=A9)HUC]Q]D@:;9‰CVH ’ “‰CVDEQSCS:>9-? Š‹QS=A. C]+-0cHK0/.:;9)D@<\…¿=AQSÇ =EŠ51’@G-0 C =@9›+-:>?@+-0/QKš

=AQ]b-0 Q Q]0/HS=@<>G[C]:;=A9 @'G-0C—XIh 9E2‰X@G)0C/X!h9Ek8YX CS+)0 9-=@CS:>=@9 =@Š b[0—b[G)BŸC]:;=A9 …:;CS+ B=@9ˆHUC]Q]D@:;9‰C]H

HSa-Q]0/DAb­…:;CS+cB =@9)HKCSQVDE:>9‰C†<>=@?A:>Ba)QS=A?@QVDE..:;9-? iAD ¾D@QD@9)bW!D@H]HS0 È@X«h8@f 9 ¦DE9)b C]+-0 9cB =@9)HKCSQVDE:>9‰C

a)QS=A?@QVDE..:;9-?ˆ’ *+-0cB=AG-9‰CS0/QSa)D@QKCVH·:;9 C]+-0 =AQS0/. a-Q]=_^L:;9-? D@QS0b[0—b[G)BŸC]:;=A9 …:‘C]+ B=@9ˆHUC]Q]D@:;9‰C]H

ž:>Q]BV+-9)0 Q0C'D@<~’>X«h@jLXEK-Q]BVÇA0 QSC/X¾h@jLXEK-QVBVÇ@0 QSC/X¾h8>-h@'D@9)bB =@.a-<>0CS0†B=A9)HKCSQVDE:>9ACHSDECSG-QVD_C]:;=A9

a)QS=[B0—HSHS0/H ¹ :>0 GL… 0 9-+LG-:FHDE9ˆb`G)M-:;=ˆXIhEe[X ?':>?@9-0/QS=A9IX¾h>‰l‰X KD@BV+).D@:;Q0 C'DE<Y’;X«h8>Al¯’*+-0$:>9AC]0š

?AQ]DECS:>=@9”=EŠQS0/…QS:;CS0M)DAHK0—b©CS0/BV+)9-:>O‰G-0—H$DE9ˆb©=AQ]b-0 Q]:;9-?‰H8:;9¡)QVHKCKš¯=@QVb[0 Q8CS+)0 =@Q]0 . a-Q]=_^‰:>9-?\HSG-QS^A0 JA0/b

:>9 ž:>Q]BV+-9)0 Q—XNh8>Af8+ˆD@Hœ<;0—b\CS=^@0/QSJaN=_…¿0/QKŠ‹G-< Q]0/HSG-<‘CVHžDE9)b¢HSJ[HUC]0 .H/’ž*+):>HžDE<><>=_…H XN:;9”B=A.4M-:>9)D_š

C]:;=A9©…:;CS+”0/O‰G)DECS:>=@9)D@<–B=@9ˆHUC]Q]D@:;9‰C]H/XNCS=\HS=@<>^@04a)QS=AM-<;0/.H8B =@9)HS:Fb[0 Q]0/bŽM‰J\.DECS+-0/.DECS:FB:FDE9)HDAH8+)DEQVb

Z¢B ¿G-9-0@X!h> 9 ¶HS0 0$D@<>HS= ¿=@<FD_CVD-X«h8>@g8‹»Ÿ’

K 0/HS:Fb[0/HcCS+-:FH :>b[0—D =EŠ M)G-:;<Fb[:>9-?Eš¯:>9 a)DEQSC =@ŠªCS+-0 0/O‰G)DE<>:;CUJ :>9 ?@0/9-0 QVDE<¼QS0 Š‹G[C]DECS:>=@9™a-Q]=Eš

B 0/H]HK0—H X CS+-0 H]DE.0 B =@9)B 0 Q]96=@Š M-G-:><>b[:>9-?@šY:>9 a)DEQSC =EŠ C]+-0 0/O‰G)D@<;:;CUJ :>9#0—OAGˆD_CS:>=@9ˆDE<Q]0/D_š

HS=@9):;9-?™:;C]HS0 <;Š ž9‰G-CS+\DE9)bK 0 9)b-:‘¨«XIh89_j8 +)D@H <;0—b CS= CS+-0 HUC]G)b[J =EŠc0/O‰G)DECS:>=@9)D@< Q]0/D@HS=@9-š

:>9-? .=Lb-G-<;=ˆX…+-=AHS0•.D@:;9 <>D@9)b[.DEQ]Ç[HDEQ]0CS+)0 HUC]G)b[J=EŠ†D@H]HK=[B :>DECS:>^@0š½B=A..4G[CVD_CS:>^@0¼B=@.a-<>0š

C]:;=A9 P0C]0 QVHK=A9D@9)b†“‰CS:FBVÇ@0/<~X«h8@f-h@¯X CS+-0\?A0 9-0/Q]D@<HUC]G)b[J¼=EŠB=@+)0 Q]0 9)B 0=@ŠžD@9•0—O‰G)D_C]:;=A9)DE<C]+-0 =AQSJ

…:;CS+˜Q]0/HSaN0/BŸCC]=ŽD†Q]0 …Q]:‘C]0HKJ[HKCS0 .'iA=@GˆDE9-9)D@G)bpD@9)bž:;QVBV+-9-0/Q/X¾h8@f@g8¯X :‘CVH$G-9-:;¡)0—ba-QS0—HK0/9‰C]D_C]:;=A9

:>9 KDABV+-.DE:>Q/X¾hAf9 !D@9)b:‘CVH0¨LCS0/9)HK:>=@9†:>9 Z¢D@Q]BV+-7AX«hEe[X ?œ:;Q]J@X)2@j@jA2¯’

'$&' ',!#% ' ! '$ + '

¸ OAGˆD_CS:>=@9ˆDE<NQS0—HK=A<;G[C]:;=A9aN0 Q].1:;C]H C]=¦:>9‰CS0/?@QVD_CS08HK.=L=EC]+-<>J@X[DE9)bp:;9D¦B =@.a-<>0C]0œ…D‡J@XACS0/QS. Q]0 …Q]:‘C]:;9)?

HKCS0/a)HDE9ˆbb-0/b[G)BCS:>=@9†HUC]0 a)H/’K G[C:;C:>H9-=@C0 9-=AG-?@+CS=+)D@9)b[<>0QSG)<;0—HQS0/…QS:;CS:>9-?1a-QS=Aaˆ=‰HK:;CS:>=@9ˆH ’

")=@Q:>9)HUCVDE9)B 0@X[C]+-08CS+-0/=@Q]J=EŠ:>9AC]0 ?AQ]D@<¾b-=@.DE:>9)HB=A9‰C]DE:>9)H¿CS+)0$D_¨[:;=A.

898;

$

9;

2

$9

2

# ;

2 *5*

*+):>Ha-Q]=@aN=AHS:;CS:>=@9†B DE9MN0žCSG-Q]9-0/b:>9‰CS=D1QS0/…QS:;CS0žQ]G-<;0

9;

2

F 9

2

# ;

2

*+):>H–Q]G-<>0QS0/…QS:;CS0—H–DE9D_C]=@.:FBa-QS=Aaˆ=‰HK:;CS:>=@9¦CS=$Db-:>H€TUG-9)BCS:>=@9DE9)bD@?ADE:>9IX@DAHŠ€DEQRDAH–… 0lj9)=_…X_CS+-0/QS0

:FH9-=…D‡JCS=Q]0 a-<FD@B 08:;CMLJpD1QSG)<;0žQ]0 …Q]:‘C]:;9-?1C]0 Q].H/’

œHK:>9-?CS+):>HQ]G-<>0@X-… 0B DE9a-Q]=_^@0œCS+-0a)QS=Aaˆ=‰HK:;CS:>=@9

6D=

$%

%<2

=

% 2 = *

M)G[C8… 0B DE9)9-=ECžb[0 Q]:;^A0$C]+-0¦0/.a[CUJ¢B<FDEG)HS0$Š‹Q]=@.›C]+-0B<FDEG)H]DE<Š‹=@Q]. =EŠR:;C]Hž9-0/?ADECS:>=@9I’7 ½9)b[0/0/b¢…:;CS+

C]+-0$B<FDEGˆHK0—H

%

%<2

= H $

%<2

=

*

… 0B D@9-9-=ECD@a-a-<>JCS+-0Q]0/HS=@<>G[C]:;=A9Q]G-<>0@’

“L=ˆX¾…+-0 9¢… 0$+)D‡^A04HSG)BV+ŽB=A.a-G[C]DECS:>=@9\Q]G-<>0/HœQS0/…QS:;CS:>9-?a-Q]=@aN=AHS:;CS:>=@9)H/X)… 0$:>9AC]QS=[b[GˆB0¦D@9-=EC]+-0 Q

a)QS=L=EŠNHK0—DEQVBV+$QSG)<;0AXEB DE<><>0/b r Á Æ Á

Æ\t[s‡s

ÅLÄ5!XECS+)DEC/XE:>9$C]+-:>H0 ¨-DE.a-<>0@XEB=A.a)DEQ]0/H!CS+-0a-Q]=@aN=Eš

HS:;CS:>=@9

%

%2

= …:‘C]+C]+-0<>0Š³CKš¯+)D@9)b†HK:Fb[0ž=EŠ CS+-0Q]G-<>0

9;

2

F 9

2

# ;

2

D@9)b”HKG-?A?@0—HUCVH'C]+-0:>9)HUCVDE9‰CS:FD_C]:;=A9 = F

X«C]+)D_C$aN0 Q].:‘CVH8CS=†Q]0/b[G)B 01CS+-0:>9)HKC]DE9‰C]:>DECS0/b©a-Q]=@aN=AHS:‘C]:;=A9

%

%<2 C]=

%<2

#

%<2

…+-=‰HK0œB<FDEG)H]DE<[Š‹=AQS. :FH

% 2

’ *+-0/9… 0'B D@9B=@9ˆB<>G)b[0C]+-0'Q]0Š‹G[CVD_C]:;=A9

MLJpD1Q]0/HS=@<>G[CS:>=@9†HKCS0 a…:;CS+CS+-0=@CS+-0/QB<FDEG)HS0

H $% 2 = * ’

*=@?A0CS+)0 Q…:‘C]+•CS+-0\Q]0/HS=@<>G[CS:>=@9¼QSG)<;0AXRCS+):>H0 ¨LCS0 9ˆb[0/b¼9)DEQ]Q]=_…:;9-?©QSG)<;0Š‹=@Q].HD”a-QS=L=@Š8HS0/DEQVBV+

.0 CS+-=[b«X!CS+)DEC$…¿0B D@<;<¬–®

|¯x NyAx]y

°

¥_±Ÿ±]_²–}³‰´”¥_¾ypµœx

£

_„‘z[|~}€E­¶‹¸§¹œº

`'»’ª+-0/99-0 :;CS+-0/Q$Q]0 …Q]:‘C]0

Q]G-<>0/H«9)=@Q!0—O‰G)D_C]:;=A9)DE<@DE¨[:;=A.H!DEQ]0§B=A9)HK:Fb[0/QS0—b«X C]+-0 ¸§¹œº `ƒ.10 CS+-=[bž:FH-TUGˆHUC G)HKGˆDE<EQ]0/HS=@<>G[CS:>=@9!’ª+-0 9

… 0+)D‡^A0QS0/…QS:;CS0Q]G-<>0/H=AQ$0/O‰G)DECS:>=@9)D@<RD_¨[:;=A.H$DEa-a)<;JL:>9-?†CS=†C]0 Q].H4=@9-<>J@XCS+)0 ¸§¹'º ` .0C]+-=[b:>H

TUGˆHUC40—O‰G)D_C]:;=A9)DE<RQ]0/HS=@<>G[C]:;=A9IX…+)0 Q]0CS+-0Q]0/HS=@<>G[C]:;=A9”Q]G-<>0?@0/9-0 QVD_C]0/HB =@9)HKCSQVDE:>9‰C]HžC]+)D_C¦D@QS0HS=@<>^@0—b

…:;CS+D@90/O‰G)DECS:>=@9)D@<-G-9-:;¡ˆB DECS:>=@9D@<;?A=@Q]:‘C]+-.†’ *+-0'9-0 …ªB DAHK0:FHR…+)0 9… 0+)D‡^@0D@<>HS=Q]G-<;0—HRQ]0 …Q]:‘C]:;9)?

DECS=A.1:FB$a)QS=Aaˆ=‰HK:;CS:>=@9)H8HSG)BV+¢C]+)D_CžCS+)0 r Á Æ Á Æ\t[s‡s ÅLÄ5”D@a-a-<>:;0—H ’©01a-Q]=_^@0$C]+)D_C—X«:;9©CS+):>H

B/D@HS0@XLC]+-0 ¸§¹'º `.10 CS+-=[b:FHB=A.1a)<;0 CS0ža-Q]=_^‰:Fb[0—bC]+-0QS0/…QS:;CS0žHSJLHKCS0/. H]D_C]:>HK¡)0/HHS=@.0ža-Q]=@aN0 QSCS:>0/H/’

”0©B =@9)HS:>b-0 Q=A9-<;J•Q]G-<;0—H…+-=‰HK0¢<>0Š³CSšY+ˆDE9)bªHS:>b-0Ž:FHpDE9 DECS=A.1:FB†a-Q]=@aN=AHS:‘C]:;=A9I’ @0/9)B0¢… 0Žb[=

9)=ECpDE<><>=_… QSG)<;0—H=EŠ8CS+-0†Š‹=AQS.0

" F $ ’ ½9ˆb[0 0—b¼:>9•CS+-0¢HS0/O‰G-0/9‰CpB DE<FBG)<;G)H5

"

B/DE9·Mˆ0

a)QS=_^A0/b©G)HK:>9-?\C]+-0pb[0—b[G)BCS:>=@9˜Q]G-<;0—H=EŠB =@9_TUG-9ˆBŸCS:>=@9!’#K G[C¦CS+-:FH$aN=AH]HS:;M-:><>:‘CUJ©…¿=AG-<>bMN0<>=AHKC4…+-0/9

Q]0/b-G)B:>9-?CS+):>Hœa-Q]=@aN=AHS:‘C]:;=A9C]=

$

’@0/9)B0$CS+-01b[0/b[GˆBŸCS:>=@9¢D@9)b\B=A.a-G[C]DECS:>=@9\Q]G-<>0/H… =@G)<>b\B =@9DC):FBŸC

:>9·D©HS0 ^A0 Q]0…D‡J˜D@H1:‘Cb[=L0—H:;9•0/O‰G)DECS:>=@9)D@<b-0/b[G)BCS:>=@9•.=Lb-G-<;=ˆX§…+-0/QS0CS+)0a)QS=AM-<;0/.™:>HHS=@<>^@0—b

MLJƒB =@+-0/QS0/9)B0Q]0/HKCSQ]:>BCS:>=@9)H iA=@GˆDE9-9)D@G)bDE9)bž:;QVBV+-9-0/Q/X¾h8@f@g8¯’ ½9ƒC]+-0¢H]DE.0…D‡J@X¿a-G[CSCS:>9-?CS+-0

a)QS=Aaˆ=‰HK:;CS:>=@9

$

" * #

%:>9B<FDEGˆHSD@<-Š‹=@Q]. …¿=AG-<Fbb[:FHKa)DEC]BV+C]+-08<;:;CS0/Q]D@<>H DE9)b

"

:>9CU…¿=1b[:N0/QS0/9AC

B <>D@G)HS0/H/X‰.D@lj:>9-?:;C.1=AQS0B =@.a-<>:>B/D_CS0—bC]=QS0 CSQ]:;0/^@0œCS+-0Q]0/b-0¨«’

*+-:FHQS0—HUC]QS:FBŸC]:;=A9ªCS=ªDECS=@.:FB¢<>0Š³CSšY+)D@9)b HK:Fb[0/H9-0/^@0 QSCS+)0 <>0/H]HD@<;<>=_…HŠ‹=AQ†aˆ=_… 0 QSŠ‹G-<œ¡)Q]HKCKš¯=@QVb[0/Q

C]+-0 =AQS:>0/H <>:;ÇA0+-:>?@+-0/QKš¯=@QVb[0 Q <>=@?@:FB8D@Hb[0 C]DE:><>0/b:;9\HS0/BCS:>=@9†g-’

+,' 0 !#0 ++ $+

*+)0 :Fb[0/D =EŠ•HK0/a)DEQVD_C]:;9-? B=@.a-G-C]D_C]:;=A9 HKCS0/a)H D@9)bŒb-0/b[G)BCS:>=@9 HUC]0 a)HB D@.0 C]= =AG-Q DECKC]0 9[š

C]:;=A9 Š‹Q]=@. DEG[C]=@.D_C]0/b CS+-0/=@Q]0 . a)QS=_^L:>9-?)’ `0 …Q]:;CS:>9-? CS0/BV+)9-:>O‰G-0—H·+)D‡^@0DE<FHS= MN0 0/9›:;.a-<>0š

.0/9AC]0/b :;9.DE9LJªa-Q]=L=EŠD@H]HK:FHUCVDE9‰C]H/’ @=_… 0 ^@0/Q/Xœ:;9 =@G)Q\=@a-:>9-:>=@9IXžDE9)b D@H\D@<>HS=•.10/9‰CS:>=@9-0—b­MLJ

KDEQ]0 9)b-QS0/?ECDE9)bKDEQ]0 9)b-HS0 9!X[2@j@j‰2ˆG-9)b-0 Q–C]+-09)D@.10=@Š _}³¾{]¥E± ?N±Ÿ}³¾{}?¾„;x X‰:;C§:FH–=EŠ«…:Fb[0 Q§:;9‰CS0/QKš

0—HUCDE9)bb[0/HS0 Q]^@0—H–C]=4MN08HKCSG)b-:;0—bpDE<FHS=$Š‹Q]=@. D$a-Q]=L=EŠ«C]+-0 =AQS0 CS:FB DE<NaN=@:>9AC =EŠ!^L:>0 …’J ½9)b[0/0/b«XLQ]0 …Q]:‘C]:;9)?

DECS=A.1:FBa-Q]=@aN=AHS:‘C]:;=A9)H:>9AC]QS=[b[GˆB:>9-?$B=A9-9-0/BCS:>^@0—HRDE9)bO‰G)D@9AC]:‘¡ˆ0 QVHRB D@9BV+ˆDE9-?A0¿C]+-0<>=@?A:>B/DE<)HKCSQ]G)BŸC]G-Q]0

=@Š–CS+-01a-Q]=@aN=AHS:‘C]:;=A9)H'D@9)b¢+)0 9)B 0¦DE<><>=_…H9-0/… b[0/b-G)BŸC]:;=A9©HKCS0 aˆH ’ž*+-:FHœ<>0/DAb-H'CS=DpQS0—DE< :;9‰C]0 QVD@BŸC]:;=A9

MN0CU… 0 0/9ƒB=A.a-G[C]DECS:>=@9•DE9)bb-0/b[G)BCS:>=@9•DE9)bC]=”DŽ9-=@9-š~C]QS:>^L:>D@<¿a-Q]=L=EŠC]+-0 =AQSJA’ ½9ƒCS+-:FH1a)DEaN0 Q1…¿0

b-0¡)9-0Da-QS0—HK0/9‰C]D_C]:;=A9\=EŠ yAxVy_z){ |~}€E‚—y_z[„> MˆD@HS0/b\=A9¢CS+)01HS0/O‰G-0/9ACB D@<>B G-<>G)H ’'Š B=@G)Q]HS0@X¾=EC]+-0 Q

Š‹=AQS.D@<;:FHK.HRHSG)BV+DAHR9)DECSG-QVDE<Nb[0/b[GˆBŸCS:>=@9=AQ @':;<>Mˆ0/QKC H HSJLHKCS0/.H§B D@9Mˆ0'G)HK0—bD@H§…¿0/<;<Y’ ½9pb[0/b-G)BŸC]:;=A9

.=[b[G-<>=)XLC]+-0Q]:;?A+ACQ]G-<>08=@ŠC]+-0$B=A9_TUG-9)BCS:>=@9†B D@9-9-=ECMN00¨[a-Q]0/H]HK0—bDAHG)HSG)DE<

*)

"

)

"

)

MN0/B/DEG)HS0…¿0+ˆD‡^@0¿CS=žC]D@Ç@0:>9AC]=$D@B/B=@G)9ACC]+-0Š€D@BC–CS+)DEC–CS+-0'B =@9)B <;GˆHK:>=@919-0 0—b19-=EC–MN00/O‰G)D@<LCS= "

M)G[C.D‡JMˆ0=A9-<>JpB=A9-?@Q]G-0 9‰C CS=C]+-:>Ha)QS=Aaˆ=‰HK:;CS:>=@9I’E@'0 9)B 0žCS+-:FHQ]G-<;0ž:FHHUCVD_C]0/b

*)

"

)

$

)

$

D@9)b

"

DEQ]08B =@9-?AQSG-0/9‰C

, 0 & ', , $

¿=A.a-<;0 CS0/9-0/H]HI=@Š)¬R® |½x Ny@xVy ° ¥E±Ÿ±S_²–}³L´ œNyµœx £ _„‘z[|~}€E :>H=@M-C]DE:>9-0—bža-QS=L=@Š³š~C]+-0 =AQS0 CS:FB DE<><>J@X Q]0 <FD_C]:;9)?

:;C]H8b[0/QS:>^_D_CS:>=@9ˆHCS=pCS+-=‰HK0¦=EŠ–C]+-0¦HS0/O‰G-0/9ACžB D@<>B G-<;GˆH.=[b[G-<>=)’ º 9©D@<‘C]0 Q]9)D_C]:;^A0$HK0/.D@9‰CS:FB DE<.0CS+)=Lb

+ˆD@HMN0 0 9†Q]0/B 0 9‰CS<>Jpb[0/^@0 <>=@aN0/bMLJ ø“‰CSG-MN0 Q—Xˆ2@j@j-h@¯X-G-9ˆb[0 Qb[:¾0 Q]0 9‰C+LJ‰aN=EC]+-0/HS0/H/’

º H'G)HSG)D@<!:>9¢HKJL9‰C]DABŸCS:FBa-Q]=L=EŠ€H/XˆB =@.a-<>0CS0/9-0/H]H:FH=AM[C]D@:;9-0—bŠ‹QS=A. B G[Cœ0/<;:>.:;9ˆD_CS:>=@9 ¶HK=A.0CS:>.0/H

G)9)b[0 QICS+-0–Š‹=AQS. =EŠD@0/QSM-QVDE9ˆbH«CS+-0/=@Q]0 .»Ÿ’@'0 Q]0–…¿0–9)0 0/bB G[CI0 <>:>.1:>9)DECS:>=@9žŠ‹=@QICS+-0RHS0/O‰G-0/9AC B DE<FBG)<;G)H

.=[b[G-<>=)’ ¯Cb[0 aN0 9ˆb-H=A9ƒC]+-0ŽB=A9)HS:>b[0/QS0—b¼B =@9-?AQSG)0 9)B 0@X G-9-<>:;ÇA0¢BG[C0/<;:>.:;9)DECS:>=@9•Š‹=@Q¡)Q]HKCKš¯=@QVb[0/Q

HS0/O‰G-0/9‰CžB/DE<FBG-<>G)H/X«CS+)DEC:>Hža-Q]=_^@0—b\=@9ˆB0DE9)b¢Š‹=@Q$D@<;<Y’ ¿G[C$0/<;:>.:;9ˆD_CS:>=@9©Š‹=@Qž^_DEQ]:>=@G)HžB=A9-?@Q]G-0/9)B0—H

+ˆD@H¿Mˆ0/0 9pa)QS=_^A0/b:>9 " =_… 0 ǏD@9)b ©0/QS9)0 Q—X«h>8YXL:>9)B<>G)b[:>9-?DE<><)C]+-0B=A9-?@Q]G-0 9ˆB0/H§a-Q]0/HS0 9‰CS0—bMLJD

B =@9DCˆG-0 9‰C§DE9ˆb1CS0 Q].:;9ˆD_CS:>9-?$O‰G)D@9AC]:‘¡ˆ0 QSš~Š‹Q]0 0Q]0 …Q]:‘C]0HKJ[HKCS0 .†X@CS+-=‰HK0a)QS0—HK0/9AC]0/b1MLJ¦D$B =@9DCˆG-0 9‰C§DE9ˆb

C]0 Q].:;9)DECS:>9-?ŽaN=AHS:;CS:>^@0pQ]0 …Q]:;CS0pHSJ[HUC]0 .™DE9)bCS+)DEC¦=@ŠœD\¡)QVHKCKš¯=@QVb[0 Q$a)QS0—HK0/9ACVD_C]:;=A9˜=EŠ+-:>?@+-0/QKš¯=@QVb[0/Q

<>=@?A:>B@’

¯C:>H¿… =@QSCS+.0 9‰C]:;=A9-:;9)?$CS+ˆD_C§C]+-0 Q]0':FH¿CSQ]:;^L:FDE<><;J19-=

¸§¹'º

` b[0/QS:>^_D_C]:;=A9=EŠIC]+-0œB =@9‰CSQVD@b[:FBŸC]:;=A9

.=[b[G-<>=¦CS+-0B=A9-?@Q]G-0/9)B08b[0¡)9):;9-?1+-:>?@+-0/QKš¯=@QVb[0/Q§<>=@?@:FBE’J@0/9)B08C]+-0B=@.a-<>0C]0 9-0—HSH¿=EŠ

¸§¹'º

`­.=[bLš

G)<;=¦CS+-:FHB=A9-?@Q]G-0/9)B08:;.a-<>:>0/H CS+)0žB =@9)HS:FHUC]0 9)B J=EŠ!+-:>?@+)0 QSšY=AQ]b[0/Q§<>=@?A:>B8DE9)b:;CB/DE9-9)=ECMˆ0a-Q]=_^@0—b:>9

+):;?A+-0 QSšY=AQ]b-0 Q«<>=@?@:FBE’ *+LG)HI:;C :FHI9)=EC HSG-Q]a-Q]:>HS:;9)?CS+)DECaN=_…¿0/QKŠ‹G)<@a-Q]=L=EŠ[CS+)0 =@Q]0C]:>B/DE<AQS0—HKG-<;C]HDEQ]0R9-0/0/b[0—b

C]=¢=@M-C]DE:>9B=A.a-<;0 CS0/9-0/H]H=EŠC]+-:>H¦.0C]+-=[b ¶Š‹=@Q1D¢b[:FHSB G)H]HK:>=@9=@9C]+-:FH4aN=@:>9‰C¦HK0/0 " =_… 0 ǾX-2EjAj@j8‹»Ÿ’

*+):>HRB =@.a-<>0C]0 9-0—HSHC]+-0 =AQS0/. HSG-?@?A0/HKC]H9-0/…ªDEa-a-<>:FB D_C]:;=A9)H=EŠ«a-Q]=L=EŠNCS+-0/=@Q]JCS=¦DEG[C]=@.D_C]0/b¦CS+-0/=@Q]0 .

a)QS=_^L:>9-?)’

&0 ! '&

" 0/b-G)BŸC]:;=A9Ž.=[b[G-<>=p+)DAH'.DE9LJ†:>.1aN=@QSC]D@9‰C8DEa)a-<;:FB DECS:>=@9)Hœ<>:;ÇA0$CS+)04:>9AC]0 ?AQ]DECS:>=@9¢=@Š§b[0/B :>HS:;=A9¢a-Q]=[B0š

b-G-QS0—H:;9C]+-0 =AQS0/. a-Q]=_^@0 QVH/’

º 9-=EC]+-0 Q†:>.1aN=@QSC]D@9‰C†D@a-a-<>:>B/D_CS:>=@9­:>HCS+)0©.0/BV+ˆDE9-:>È/DECS:>=@9 =@Š4+-:>?@+-0/QKš¯=@QVb[0 Qp<;=A?@:FBE’ “L:>9)B0”…¿0

:>9)b[0/0/b†HKC]DEQSCS0—bŠ‹Q]=@. CS+-:FH<FD@HKCa-QS=AM-<>0 .†X[…¿00 ¨[0 .a-<>:‘Š‹JpCS+-0$D@a-a-Q]=AD@BV+pM‰JDEa-a)<;JL:>9-?1CS+-0a-Q]0 ^L:>=@G)H

Q]0/HSG-<;C]HC]=4D8¡)QVHUCSšY=AQ]b-0 Q–a-Q]0/HS0 9‰C]DECS:>=@91=EŠ«+-:>?@+-0/QKš¯=@QVb[0/Q <>=@?A:>BMˆD@HS0/b=@9B =@.4M):;9)DECS=AQ]H/X@DE9ˆb¦… 0'HS+-=_…

C]+)D_C!CS+-0 ¸§¹'º `˜.0CS+)=Lb4HKG-MˆHKG-.0—HI+-:>?@+-0/QKš¯=@QVb[0/QNQ]0/HS=@<>G[C]:;=A9 @G)0C/Xh 9E2‰XB@'G-0C—XIh 9_k8¯’”0¿HS+-=_…

:>9 " =_… 0 Ç0C'D@<~’>X)2EjAj-h@!+)=_… CS+):>HB =@G-<FbMˆ0$D@a-a-<>JCS=D¦¡)QVHUCSšY=AQ]b[0/Qa-QS0—HK0/9‰C]D_C]:;=A9p=@Š+-:>?@+-0/QKš¯=@QVb[0/Q

<>=@?A:>BœM)DAHK0—bp=A9†DB/DE<FBG-<>G)H=EŠ 0¨[a-<>:>B :‘C'HSG-M)HKCS:;CSG-CS:>=@9)H/’

+ '" &!J

“[0/BŸC]:;=A9·h1a)QS0—HK0/9ACVH8CS+-0†£ xV¤ z)xˆ|8{V¥_„;{ z[„ýz £ ‚—y_z[„> DE9)b”:;C]H.D@:;9a-Q]=@aN0 QSCS:>0/H/’p“L0/BCS:>=@92b[0¡ˆ9-0/H

C]+-0¢¬–® |¯x NyAx]y ° ¥_±Ÿ±SE²–}³‰´ œ¾yµœx £ E„ýz[|~}€E¶‹¸§¹œº `'»1a-Q]=L=EŠ'HS0/D@Q]BV+.0 CS+-=[bƒD@9)bƒHS0/BCS:>=@9)H1k-X–e

D@9)bl¦DEQ]0žb[0/b[:FB DECS0—bC]=4C]+-0B=@.a-<>0C]0 9-0—HSH a-Q]=L=EŠ!=@Š!C]+-:>H .0C]+-=[b«’ ”0žB =@9)B <;Gˆb[0ž:;9\“L0/BCS:>=@9g4MLJ

a)QS0—HK0/9AC]:;9)?1D@9†D@a-a-<>:>B/D_C]:;=A9CS=+):;?A+-0 QSšY=AQ]b-0 Q <;=A?@:FBE’

/

*+):>H a)D@aˆ0/QD@a-aN0/DEQ]0/b¡)QVHUCD@H ¹ ` º Q]0 aN=@QSCkEeAjAj3" =_… 0 Çp0CDE<Y’;X!h>Af8«:;9 º a-Q]:><–h>Af4D@9)b:;C:>H

0 ¨[aˆ0—BŸCS0—bCS=DEa-aN0/D@QMLJCS+-00/9)b=EŠ–2Ej@jAk4:>9CS+-0$iA=@G)QS9)D@<¾=EŠ º G[CS=A.D_CS0—b†`0/DAHK=A9-:;9)?)’

*+):>HQS0/aˆ=AQKC†B=AQSQ]0/HSaˆ=A9)b-HC]=C]+-0pTU=AG-Q]9)DE<8^@0/Q]HS:;=A9ª…:‘C]+ .=@Q]0©b[0 C]D@:;<><;0—b B=A..10/9‰C]HDE9)b·Š‹G)<;<>J

0 ¨[a)DE9)b-0/b1a-Q]=‰=@Š€H–…+-0/QS0 CUJLa-:FB DE<><>J4=@9)<;J4CS+-0.D@:;9a-Q]=L=EŠ«DEQ]?@G-.0/9ACVH–DEQ]0a-QS0—HK0/9‰CS0/b1:>9CS+-0RTU=@G-Q]9)DE<

^A0 QVHK:>=@9!’

$  ›

'& '&

”0B=A9)HK:Fb[0/QDžHS0C–=EŠˆŠ‹G-9)BCS:>=@9HKJL.¦Mˆ=A<>H/X_G)HSG)DE<><;J¦b[0 9-=@CS0—b ) ) );X@DžHK0 C–=EŠˆa)QS0—b[:>B/D_C]0HSJL.4MN=@<FH X

D@9)bƒD@9ƒ:>9[¡)9-:;CS0\HS0C=EŠ'^_D@QS:FDEM-<>0/H …+-:>BV+¼0 <>0 .0 9‰CVH1D@QS0b[0 9)=ECS0—b 9 ) ; ) =

)‘’¼*+-0/HS0HS0CVHDEQ]0

DAHSHSG-.0/b8C]=MN0¿b[:FH‹TU=A:;9‰C—’ ¸ DABV+žŠ‹G-9)BŸC]:;=A94HSJ‰.¦Mˆ=A<AD@9)bža-Q]0/b[:FB DECS0§HSJL.4MN=@<@+ˆD@H!D¡-¨[0/bDEQ]:;CUJ@’ ¹ G-<><>D@QSJ

Š‹G)9)BŸC]:;=A9ŽHKJL.¦Mˆ=A<>HD@QS0¦B DE<><>0/b {V_ £ |½¥_ˆ|£Ÿ’ ”0¦D@H]HSG-.0CS+)DEC'C]+-0 Q]0$:FH'D_Cœ<;0—D@HKC'=@9-0¦B=@9ˆHUCVDE9‰C/’*+-0

HS0C$=@Š |½x ±Ÿ‚ £ŸX ¥_|½_‚1}€{4?¾±S ?) £ }³|Y}€_ £ŸX ?¾±S ?) £ }³|Y}€_ £$D@9)b¼£ x )|½x N{Vx £ ¶:Y’0A’!B<>=AHS0/b”a-Q]=@aN=AHS:;CS:>=@9)HV»8DEQ]0

b-0¡)9-0—b$D@H!G)HSG)DE<‰:;9$¡)Q]HKCKš¯=@QVb[0/Q«<;=A?@:FB5žD@<;<>:>0 Q—X«h@fAg8Y’”0¿D@H]HSG-.0–CS+)DEC!C]+-0§Q]0/DAb[0 Q:>HIŠ€DE.:;<>:FDEQ!…:;CS+

C]+-08M)D@HS:>B'9-=EC]:;=A9)H¿=EŠ!Q]0 …Q]:‘C]:;9)?4D@H b[0¡ˆ9-0/b«XLŠ‹=AQ¿:>9)HKC]D@9)B0œ:;9 " 0 QVHK+)=_…:‘C]ȞD@9)bi@=AG)DE9-9ˆDEG)b«X«h8>Aj8Y’

“[:;9)B 0†…¿0†B=A9)HK:Fb[0/Q¦Q]G-<>0/H1QS0/…QS:;CS:>9-?”a-Q]=@aN=AHS:‘C]:;=A9)H$C]+)D_CB =@9‰C]D@:;9¼M-:;9ˆb[0 QVH ¶O‰G)DE9‰C]:‘¡)0/Q]HV»ŸX¿…¿0†DE<FHS=

GˆHK0HS=@.09-=@CS:>=@9)H=@Š {]E‚ }³N¥E|¯E±<;Ž±SxVyEz){|Y}€_ £ ; £ |½x‚ £ž<>=@a0C'DE<Y’>X«h>Ak8Y’\*+-0GˆHKG)D@<§9-=@CS:>=@9)H

HSG)BV+pDAHRC]+)D_C=EŠ —{V{z[±Ÿ±]x¾{]x DEQ]0'?A0 9-0/Q]D@<;:>È 0—b1CS=¦a-QS=Aaˆ=‰HK:;CS:>=@9ˆH XLB<FDEG)HS0/H/XN’ ’ ’]*+-0œHKC]D@9)b-D@Q]bB/DEa[C]G-Q]0

D‡^A=@:Fb[:>9-?1HSG-M)HKCS:;CSG-CS:>=@9†=EŠ CS+-0$CS0 Q]. ¿Š‹=@QC]+-0^_DEQ]:>D@M-<>0 9 :;9\D1a-Q]=@aN=AHS:‘C]:;=A9 :>H…QS:;CKC]0 9 9 ’

½9¢B =@9‰CSQVD@HKC/X 9 F b[0/9-=EC]0/HC]+-0¦HSJL9‰C]D@BCS:FBžQS0/a-<FD@B0/.0 9‰C'=EŠ  Š‹=AQ 9 :>9’*+-0 y@E‚¥E}³ =@Š–D

HSG-M)HKCS:;CSG-CS:>=@9 :>H'CS+-0HS0Cž=EŠR^_DEQ]:>D@M-<>0/HC]+)D_CDEQ]049)=EC'C]QS:>^L:>D@<;<>J†.DEa-aN0/b¢CS=C]+-0 .HS0 <>^@0—H'MLJ X«…¿0

b-0 9-=@CS0:;C "!$#

$ * ’ ª+-0 9&%ª:FHDE9\=[B B G-Q]QS0/9)B0ž:>9¢Da-Q]=@aN=AHS:‘C]:;=A9XN…¿0…Q]:;CS0 '(¢Š‹=AQCS+-0$CS0 Q].

=AQ¿a)QS=Aaˆ=‰HK:;CS:>=@9pDEC=LB/BG-Q]Q]0 9)B 0)%¼D@9)b +*-,

(

Š‹=AQ¿C]+-0ža-Q]=@aN=AHS:‘C]:;=A9=@M[CVDE:>9-0/bpMLJQS0/a-<>DAB:>9-?'(\MLJ

:>9’

Á/.22r €Å 103240 CS0/QS.›Q]0 …Q]:‘C]0$Q]G-<;0 }£ ¥ ?)¥_}³±65¦|½x±Ÿ‚ £87 F:9<; £ z £ z)¥E„>= | x<_¥_±Ÿ}€¥?„>x £ 6589

‚1z £ |R/{V{ z[±'}³ 7; œ 0/O‰G)D_C]:;=A9)DE<ND_¨[:>=@. }£ ¥ ?)¥_}³±$5'|½x±Ÿ‚ £@7

2

9; a-Q]=@aN=AHS:‘C]:;=A9QS0/…QS:;CS0'QSG-<>0 }£

¥'?)¥_}³±¦5 ?N±]?) £ }³|~}€E £87 FA9/=¿² x±Sx 7 }£ ¥_˜¥_|½_‚1}€{?¾±S ?) £ }³|Y}€_¥_¾yB9Ž}£ ¥E±}³|Y±S¥E±<;C; £ z £ z)¥E„>=

| x@5V±SxVx ‡¥E±Ÿ}€¥C „;x £ 59†‚¦z £ |/{V{ z[±}³ 7 ;

º 90 ¨-DE.a-<>0œ=@Š D¦CS0/QS. Q]0 …Q]:;CS08QSG-<>0ž:>H 9 &

FG9 CS+)DEC:FHa)D@QKC=EŠCS+-08C]+-0 =AQSJ=@Š?@Q]=@G)a)H ’ º 9

0 ¨-DE.a-<>0=EŠ«DE90/O‰G)DECS:>=@9)D@<)D_¨[:>=@.c:FH 9 & ; 2 ; & 9 CS+)DEC§:>HRa)DEQSCR=EŠNCS+-0CS+-0/=@Q]J4=EŠ º MN0 <>:FDE9?@Q]=@G)a)H ’

º Cœ<>DAHUC—XˆDE9\0 ¨-DE.a-<>0$=EŠRDa-Q]=@aN=AHS:‘C]:;=A9†QS0/…QS:;CS0Q]G-<>0$:>H 9EDGF

$; * F 8=

$

=HD>9 =HD ; *

C]+)D_Cœ:>H

aˆDEQSC=@Š HS0CC]+-0 =AQSJA’

º { „;¥ £V£ ±Sx ²–±Ÿ}³|½x £ ; £ |¯x ‚ :FHD1a)DE:>Q/X-b-0 9-=@CS0/bMLJ+I §XˆB=@9ˆHK:FHUC]:;9)?¦=@ŠA

J I A§DHK0 C=EŠa-QS=Aaˆ=‰HK:;CS:>=@9QS0/…QS:;CS0žQ]G-<>0/H/X

J

A§DHS0C=EŠ CS0/QS. Q]0 …Q]:;CS0žQSG)<;0—HDE9)b0/O‰G)DECS:>=@9)D@<ID_¨[:;=A.H ’

Á/.22

r

ہ 1032

}_x¥ ?N±S ?-

£

}³|~}€EŽ±Sx ²–±Ÿ}³|¯x

£ ; £

|¯x ‚

I

=R|

x ?¾±S?)

£

}³|Y}€_

IšYQ]0 …Q]:‘C]0/H

|½

=

yAx¾_|½xVy

F

=1}5

'( 2 $7*

¥ENy

2

+*

$9 *,( =5E±

£

E‚xŽ±Ÿz[„;x

7 F 9 D I = £

_‚x

—{V{z[±Ÿ±]x¾{]x

%

}³

¥ENy

£

E‚x

£ z £

|Y}³|~z[|Y}€_ ; £ z £ z)¥E„I²

x ”¥ ? ?N„;_}³‰´ = ¤ z)¥_ˆ|~}: x]y ‡¥E±Ÿ}€¥C „;x

£

5 9Ž¥_±Sx4±Sx N¥E‚xVy|½p¥ ‡E}€y{V¥ ?N|Yz[±Sx £ ;

")=@Q:>9)HKC]DE9ˆB0@X[…:;CS+C]+-0QSG)<;0—H

9 ;

2

F 9

2

# ; 2

%

D

$

( *

F 89 $9 D %

G9 D

( *

… 0ž+)D‡^@0œCS+)0žŠ‹=@<><;=_…:>9-?QS0/…QS:;CS0žHKCS0 aˆH6A

8= =#=

2 F

8=

$= 2 # =

2 *

8 =8=

==

2 F

8= 8 = $=

2

# =

2 *

8:9 $ ; ;

2 9BD

$

( *,*

F 8:9

$

8 D ;;

2

9 D

*

¹ =EC]:>B 0œC]+)D_CC]+-0a-Q]=@aN=AHS:‘C]:;=A9 = #= 2 = B D@9-9-=ECMN0QS0/…QS:;CKC]0 9MLJCS+-0—HK0Q]G-<>0/H/’

*+-0œQS06C)0¨[:>^@0 š~C]Q]D@9)HK:;CS:>^@0B <;=‰HKG)QS0=@Š«CS+-0œQS0/<>DECS:>=@9 F :FH§…Q]:‘CSCS0/9 F ’–*+-0'Q]0 <FD_C]:;=A9)H

2 DE9ˆb

2

DEQ]0CS+)08B =@9-?AQSG-0/9)B0—HR?A0 9-0/Q]DECS0/bQ]0/HSaN0/BŸC]:;^A0 <>JM‰J ”DE9)bIR’ ”0œCS+-0/9b[0 ¡)9-0C]+-089-=EC]:;=A9

=@ŠI «š¯Q]0 …Q]:‘C]:;9-?ˆ’

Á/.22r €Å 1032 }_x¥ƒ{ „;¥ £V£ ±Sx ²–±Ÿ}³|½x £ ; £ |¯x ‚ I =| x ?¾±S ?) £ }³|Y}€_ I Iš¯QS0/…QS:;CS0—H |½ =

yAx¾_|½xVy F

=§}5

2

" = " '( 2 $7*

¥_¾y

2

" * $9 * ,(

=35_± £ E‚x¦±Ÿz[„;x 7 F 9D I =

£ E‚x?N±S ?- £ }³|~}€E

" = £ E‚x1/{V{ z[±Ÿ±Sx N{Vx % }³

"

¥_Ny £ _‚x £ z £ |Y}³|Yz[|~}€E ;

*+-0 9)0¨LC CU…¿= Q]0/HSG-<;C]H DEQ]0 b[:;Q]0/BC B=A9)HK0—O‰G-0 9)B 0/H =EŠ CS+-0 HKC]D@9)b-D@Q]b QS0/…QS:;CKš

:>9-? B=A9)B0/a[C]H i@=AG)DE9)9)DEG)bDE9ˆb ž:>Q]BV+)9-0 Q—X¾h@fAgLX KD@DAb[0 QDE9ˆb ¹ :;a-ÇA=_…X«h@f8 DE9ˆb

*0 Q]0/HS0 ¶Z˜’ K 0 È/0 .†X-iˆ’ ’ ž<;=AaD@9)b†`’-b[0 ?–Q]:TU0/Q/X[0—b-H/’»Xˆ2EjAjA2¯’

! s Å#"§Å

q r

ہ 03240%$

x  {V_ˆ|¯¥E}³

£

E)„;±Sx ²–±Ÿ}³|½x±Ÿz[„;x

£

¥ENy|

x$±Sx²–±Ÿ}³|½x

£ ; £

|¯x ‚

I&

}£ {V_#'

( z)x )|R| x Ž| x4±Sx „;¥_|Y}€_ F

}£ ¥_„£ {V_ ( z)x )| ;

! s Å#"§Å q r €Å 032)5 2 " | x 2 "

E± +* F

"

=};³x; ¥_¾y

"

¥_±]x±Sx „;¥_|½xVy ;

| x4±Sx( x® }_x = £ ;_‚1‚x |~±Ÿ}€{1¥_¾y|Y±S¥_ £ }³|~}_x¦{ „; £ z[±]x¦5| x$±]x„;¥E|~}€E F ;

-,

,. +, ' 0 ! 0 ++ $+&

”0DEQ]0¦9)=_… DEM-<>0¦CS=?@:>^@0@X«:>9 ":>?@G)QS0h@X«C]+-0b[0¡ˆ9-:‘C]:;=A9©=@ŠRCS+)0HS0/O‰G-0/9‰CB/DE<FBG-<>G)H8.=[b[G-<>=)’¦*+):>H

HS0/O‰G-0/9‰C B D@<>B G-<>G)H!0 ¨LCS0 9ˆb-HIC]+-0 G)HKGˆDE<‰=@9-0 ¶HS0 0@X‡Š‹=AQ:>9)HKC]D@9)B0AXø5žDE<><>:;0/Q/X«h8@f@gLXE58:>Q]D@Q]bp0C'D@<~’>X«hAf>8‹»ŸX

MLJ4D@<;<>=_…:>9-?ž…¿=AQSÇL:>9-?œ.=[b[G-<>= I R’J ½91CS+-0—HK0Q]G-<>0/H/X \DE9ˆb DEQ]0 ¡)9-:;CS0.4G)<‘C]:>HS0CVH–=EŠ¾a-Q]=@aN=AHS:‘C]:;=A9)H ’

¹ =EC]:>B 0žCS+)DECCS+-0¦b[0/b[GˆBŸCS:>=@9\Q]G-<>0 t €Å QS0—O‰G-:;Q]0/H C]+-0$<>0Š³C'a)QS=Aaˆ=‰HK:;CS:>=@9\DE9ˆbpC]+-0$Q]:;?A+‰C=@9-0žC]=Mˆ0

:Fb[0/9AC]:>B/DE<[.=[b[G-<>=žCS+-0B =@9-?AQSG)0 9)B 0D@9)b¦9-=EC«TUG)HKC§G-9):‘¡ˆD@M-<>0@’/. x N{Vx| x 5V±SxVx ‡¥E±Ÿ}€¥C „;x £ 65œ¥ £ xV¤z)x )|

{V¥E)NE|Vx4}³ £ |¯¥E)|Y}€¥_|½xVyp¥_¾yp¥E±Sx$|Y±SxV¥_|½xVy¥ £ {V_ £ |¯¥E)|£ ;

ª+-0/9\CS+)0¦B=A9-?@Q]G-0/9)B0

2

:FH'HS:>.1a)<;JCS+)04:Fb[0 9‰CS:;CUJ@XˆCS+):>HœHK0—OAG)0 9‰CœB D@<>B G-<>G)H'B =@<><>D@a)HK0—HCS=pCS+-0

GˆHKG)D@<«=@9-0A’J ½9C]+)D_C'B/D@HS0HK0—OAG)0 9‰C]HD@QS08…QS:;CKC]0 9\D@HGˆHKG)D@<«…:‘C]+CS+-0ŽHKJL.¦Mˆ=A<~’

*+-09)0¨LCCU…¿=1a-Q]=@aN=AHS:‘C]:;=A9)HQ]0/HSG-<‘Cb[:>Q]0/BŸC]<;JŠ‹QS=A. CS+-0$b-0¡)9-:;CS:>=@9ˆH6A