• Aucun résultat trouvé

Un modèle théorique d'intermédiation : transmission et gestion des chocs

N/A
N/A
Protected

Academic year: 2021

Partager "Un modèle théorique d'intermédiation : transmission et gestion des chocs"

Copied!
35
0
0

Texte intégral

(1)

HAL Id: hal-00806524

https://hal.archives-ouvertes.fr/hal-00806524

Submitted on 8 May 2013

HAL is a multi-disciplinary open access

archive for the deposit and dissemination of sci-entific research documents, whether they are pub-lished or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.

L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés.

Un modèle théorique d’intermédiation : transmission et

gestion des chocs

Cécile Bastidon

To cite this version:

Cécile Bastidon. Un modèle théorique d’intermédiation : transmission et gestion des chocs. Atelier de travail ”Retour à la stabilité financière”, GDRE Monnaie Banque Finance, Apr 2013, Paris, France. �hal-00806524�

(2)

2

2

2

2

2

34256789A2BCD6EFA27F4BAE5D7FBF6422

BE45FF642AB2ABF6427A2C62

1 AEF642ED9F5F4FEA2 225E212

DF9A2BF7642 BF764!4F"#B94$%E&2 '()*2()21+&,234F"AEFBD272-72.2/69642E02

2 2

1111111111111111111111111111111111111111 1111111111111111111

02CBB..9A7$4F"#B94$%E$234F"AEFBD272-72/69642E,219BD27A2-FA4A2D6465FA,2)"A4A27A2934F"AEFBD,2

(3)

2

34256789A2BCD6EFA27F4BAE5D7FBF6422BE45FF642AB2ABF6427A2C62

9D5D2

:62E666424256789A2BCD6EFA2F59A2656EB4B,274A2EB,24A2D6465FA2EBDEFDA2E242 56789A27F4BAE5D7FBF6427644D,27D%F4F2E29F56EB4A27A26EBA%AF99A27A2ED7FB2825D4A2742 9A2 F9427A2 4A2AB27429A46E2B6B927A2ED7FB2;2AB27BEA2EB,24A2 4A2A4BE9A2

EBDEFDA2E24A2E89A27A269FBFA2564DBFEA299F4B269FBFA27A2B827F4BDE<B262%6E5A27A2E89A2 7A2B=A2/=96E25A4BDA,2F4>ABF6427A29FF7FBD,2AB2CB27A2BFBEA$2:62564BE642A29A256789A2 7?F4BAE5D7FBF6427DBAE5F4A29A2647FBF6427A2BE45FF6427?42C62E242A5A4B27A25ECD2 7DBAE5F4D$2@92A42ED9BA27A82EF4F82D9D5A4B27A2649F64$2*? 6E7,29?F56EB4A26E7DA2E29A2 4A2A4BE9A2A29?DEB27A2E67BF6427429A27EA27?4A2E89A27A2/=96E2F4%9A27A2%FB2E292 B F9FBD2%F44F8EA,26E24256789A27?F4BAE5D7FBF6427644D$2(4FBA,29254F8EA2764B29A2EFA27A2B82 AB2EBD2A4BEA2 4A2AB2A5E4BAE27DBAE5F4A29A25679FBD27A29269FBFA2564DBFEA$2-F92AB2 6EBD2A42E66EBF642A8AF"A2E29A2A5E4BAE,2B6B2C626FBF%27A2B827FEABAE2AB2 7DE7AE29A2647FBF6427A2%F44A5A4B226F4B27A2647FEA292 4A2A4BE9A2A256 F9FAE29D"A4BF92 659AB27A2F4BE5A4B27A269FBFA2564DBFEA$2 9F%FBF642B('2 (532A4BE924C2472/CAFE2269FFA&2;27121F44F92EFA&2;27124C;2DBCAE2*A6FB6E=2 @4BFBBF64;2EFE621F44A2@4BFBBF64;2E6EBA;216EA96EA&$22 E6B29A%2 E6789A27?F4BAE5D7FBF64,2ED7FB2825D4A,24A2A4BE9A,259F%FBF6427A2C62%F44FAE$2 2 2

)2BCA6EABF92F4BAE5A7FBF642567A92BE45FF64247254A5A4B26%2C6C2

) BEB2 FA2E66A22F59A2BCA6EABF92567A92GFBC22%F44F92=BA52CEBAEFHA72 =22F"A42F4BAE5A7FBF642 CA5A,2GCFC27AA472642BCA2F56EB4A26%2C6AC6972EA7FB2F42 4C?2 94A2CAAB2472B6B92 6BB47F42EA7FB$2/CA2A4BE92 4C2F2CEBAEFHA72 =22564ABE=269F=2E9A2F497F4242

5A4BA72/=96E2B=A2E9A,24729FF7FB=2F4>ABF642472AB2ECA2%4BF64$2FA2C6G2BCB2BCA2 F4BAE5A7FBF642CA5A27ABAE5F4A2BCA2647FBF6426%2BCA2BE45FF6426%22C6C26422EBF9E25ECAB2 A5A4B$2/CF2EA9B2F42BG62CA=2649F64$21FEB,2FB2CFC9FCB2BCB2BCA2F56EB4A2F"A42 =2A4BE92 4C2B62BCA26BB22F42BCA2/=96E2E9A27A2%B62%%AB2%F44F92B F9FB=,2%6E22F"A42F4BAE5A7FBF642 CA5A$2-A647,2C6G2BCA2F4BAEAB2EBA2EFC2F2CEA72 ABGAA42 4C2472 6EE6GAE27ABAE5F4A2BCA2 5679FBFA2%6E2564ABE=269F=$2@%2BCA2 6EE6GAE2 AE242A8AF"A2E66EBF6426%2BCF2EFC,24=26%%FF92 F4BAEAB2EBA26FBF"A2C6C2427ABAEF6EBA2%F44F42647FBF642F42C22G=2BCB2BCA2A4BE92 4C2GF992 C"A2B62A4A2BCA2%992E4A26%2FB2564ABE=269F=2B669$2

(4)

1$2@4BE67BF642

*AF27A827DA44FA,29A269FBFA2564DBFEA264B2 F27A2E6%647A25BBF64,2927AE4F8EA2 A427BA2DB4B292D4DE9FBF6427A29A27A269FBFA2464264"A4BF644A99A2E29A2 4A2 A4BE9A27A2D6465FA2"4DA$2@92A42AB27A25<5A27A2EBDEFBFA27A2=B85A27A2 %F44A5A4B2AB27F4BAE5D7FBF6427429AA92A99A264B25FA2A42I"EA$2'A2EA5FAE264BB2%FB2 96 >AB27A2465 EA82BE"82EDA4B$2'A2A6472AB256F429EA5A4B26"AEB,2EF4F9A5A4B27A2 54F8EA2A5FEFA2AB2A42ED%DEA4A22%64BF644A5A4B2BE82EBF9FAE27A29F4BAE5D7FBF642AB272 ED7FB2BFBEFD282(BB#34F$2A2765A4B226E26 >AB27A2E66AE24256789A2BCD6EFA27A2 69FBFA2564DBFEA2464264"A4BF644A99A274242A4"FE644A5A4B27F4BAE5D7FBF642659A8A$22 2 (427DFB27A29A6E2EDA4B274A29FBBDEBEA2A5FEFA2DF%FA282%6E5A2BA99A27A2 9F4BAE5D7FBF642%F44F8EA,29A256789A2BCD6EFA2F2A42EA47A4B265BA2%64BF644A4B2A46EA2 D4DE9A5A4B2E29A26B9B27A25D4F5A2 FA229A25D4A264B24A2FBD27A2 %F44A5A4B,29A2A4BEAEFA242 A6F427A2%F44A5A4B,2AB29A2A6472AB26"AEB262%6E5A27A2 ED7FB2ED9FD2EJA2827DKB26EEA6474B2A292EA5F8EA$2'A2EFA29FD2A29?BF"FBD2 7?F4BAE5D7FBF642ED9BA4B27A2924DAFEA2BE4%6E5BF6427A2DCD4A2274A2EB,29A2E6>AB2 7F4"ABFA5A4B2A426E264B2F99FF7A2;27BEA2EB,29A25D4A264B29A2C6F82A4BEA29A5A4B2 7FEAB262%6E5A27A2BFBEA2AB27DKB2 4FEA,2AB264B2ABF 9A27A2E42A42DEF67A27A2EFA$2@92 ?FB276427A2LBE4%6E5AE27A2BF%2F99FF7A2A42F%29FF7AL,2A292*F56472M2*= "F$2'A2 56789A2BCD6EFA2EDA4B24A27FA4B22BEA2C6A22F4F,2E2A8A59A,29A256789A27A2

EBF644A5A4B272ED7FB2F4BAE 4FEA27A21EAF82M2B6EA23&2629A256789A27A2E42"A26NB2 7A29FF7BF642A47684A27A2-BAF421&27DEF"A4B242C627A29FF7FBD2E29A2 F942 4FEA2 ED9B4B2742E FBEA27A25D4A2A427D%"AE27A27DKB,2AB29A2ED7FB2BBEF D282A4B2 4642%F44FAE29A264B282A9A2A4BEAEFA1$22

2

DE29A2EBDEFBFA2BA99A27A29F4BAE5D7FBF6427429A2D6465FA2"4DA264B2BE82 D96F4DA27A2A2CD52B=A$2*? 6E7,29A8FBA4A2A%%ABF"A2742E FBEA2A4BEA27DKB2 4FEA2 AB27DBA4BF6427FEABA27A2BFBEA2%647DA2E29A26NB27?66EB4FBD27A27DKB24AB229FEA5A4B2 "9F7DA2A5FEFA5A4B2)E1,21&$2(4FBA,29A2 A6F427A2%F44A5A4B27A2A4BEAEFA264B2 BA99A5A4B29EA5A4B26"AEB2E29F4BAE5D7FBF6422A429EA2CB27A2BFBEA2E29A2 6E4F5A2%F44FAE&,29BKB2A2E29A2ED7FB26BF99FAE2M2EF644A,21&$2(4%F4,29A2ED7FB2 825D4A28A4B27A292A429296E7,2A292%6F27429A2 F9427A2 4A,2AB27429A2 A46E2B6B827A2ED7FB27A2=B85A27A2%F44A5A4B264AF927?)49=A2(6465FA,211&$2 AF2D48EA24276 9A2EFA2DF%FA2274A2EB,29A27D%F994A2E29A26EBA%AF99A27A2 ED7FB2825D4A264B292A4F 9A2A29DEB27A2E67BF642AB22EFA27A2B827F4BDE<B2A2 A99A2E29A26EBA%AF99A27A2ED7FB282A4BEAEFA2A4%6E72M2:FAE,26&2;27BEA2EB,292 E"A44A25F"A27A2A27D%F994A,292%EDA4BA296EA29A2 4A24A27DBFA44A4B22 9A26EBA%AF99A27A2ED7FB2AE47B2M27B,242;22E44475,211&,2D48EA2F55D7FBA5A4B2 42C62F59B4D27A2EA72AB27A29FF7FBD2E29A25ECD27A27DEF"D26EEA6474B,2

ABF 9A27?<BEA2BE45F2A26EB2BAE5A2825ECD2F4BAE 4FEA2F2A29?A4A5 9A27A2 =B85A27A2%F44A5A4B$2

2

1111111111111111111111111111111111111111 1111111111111111111

2

1A25D4F5A264B2D9A5A4B2655428256789A2*-7(2F46E6E4B2A89FFBA5A4B29BF"FBD2 7F4BAE5D7FBF64227DKB2 4FEA2AB27DBA4BF6427FEABA27A2BFBEA2 9F242EFA2E%FBA5A4B2  BFB 9A2E7F2M2F667%6E7242AB24 2;27AEB9AE2M2OE7F211&2;2%F44A5A4B27A2ED7FB282 A4BEAEFA2E29A27DKB27A25D4A27AEB9AE2M2OE7F211&$221

(5)

P2 26E2A2EF64,2462E666424256789A2BCD6EFA2F59A2656EB4B242CD52 7F4BAE5D7FBF6427D%F4F2E29F56EB4A27A26EBA%AF99A27A2ED7FB2825D4A27429A2 F942 7A2 4A2AB27429A46E2B6B927A2ED7FB,2AB2E29A2647FBF6427A2BE45FF642AB2 7?59F%FBF6427?42C627A27D%F994A27A2A26EBA%AF99A$2A2=B85A27A2%F44A5A4B2 64BFBA29A4"FE644A5A4B27429AA924A2 4A2A4BE9A2FB24A269FBFA2564DBFEA299F4B2 69FBFA27A2B827F4BDE<B262%6E5A27A2E89A27A2/=96E25A4BDA,2F4>ABF6427A29FF7FBD,2AB2 CB27A2BFBEA$2*A82EF4F82D9D5A4B27A2649F642A42ED9BA4B$2*? 6E7,29A256789A25AB2A42 D"F7A4A2A29?F56EB4A26E7DA2E29A2 4A2A4BE9A2A29?DEB27A2E67BF6427429A2 7EA27?4A2E89A27A2/=96E2F4%9A27A2%FB2E292B F9FBD2%F44F8EA,26E24256789A2 7?F4BAE5D7FBF6427644D$2(4FBA,29254F8EA2764B29A2EFA27A2B82AB2EBD2A4BEA2 4A2AB2 A5E4BAE27DBAE5F4A29A25679FBD27A29269FBFA2564DBFEA$2-F92AB26EBD2A42E66EBF642 A8AF"A2E29A2A5E4BAE,2B6B2C626FBF%27A2B827FEABAE2AB27DE7AE29A2647FBF642 7A2%F44A5A4B226F4B27A2647FEA292 4A2A4BE9A2A256 F9FAE29D"A4BF92659AB27A2 F4BE5A4B27A269FBFA2564DBFEA$2222 2 'A264BA4272FAE2AB26E4FD2655A2FB2292ABF6422AB264EDA282%FB2B=9FD27A2 9?F4BAE5D7FBF642 4FEA27429A2D6465FA2"4DA226E27A27A827AE4F8EA27DA44FA$2 '2EA"A27A2929FBBDEBEA2F2%FB29?6 >AB27A292ABF6422EE6CA2A2%FB2B=9FD27A2BE"82 EDA4B2E29A25BBF6427A2=B85A27A2%F44A5A4B2AB27A269FBFA2564DBFEA$2'A2 ABF642P2AB25264B264EDA2256789A2AB2BEFBA4B2EAABF"A5A4B27A29?A4"FE644A5A4B2AB27A2 BAE2ABF642P&2AB27A2A%%AB27?42C627A27D%F994A2E29A26EBA%AF99A27A2ED7FB282 5D4A,2A96429A2EBDEFBFA272=B85A27?F4BAE5D7FBF642AB29A2ED%DEA4A27A292 4A2 A4BE9A2ABF6425&$2'A2D9D5A4B27A2649F642%64B29?6 >AB27A292ABF642+$2 2

$2EBDEFBFA27A29?F4BAE5D7FBF642 4FEA27429A2D6465FA2

"4DA27AF27A827DA44FA22%FB2B=9FD2

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

(6)

4?5A4BA2=5DBEFA5A4B2A274242A92,2A9F27296=5A#34F$226E29A2BEA2=,2 E29?A4A5 9A27A292DEF67A,292EB27A27DKB2EA9A2D9A5A4B,27A2126F4B225F4F552 )99A54A&2A2927A2126F4B2258F5521E4A&$2)29?A8ABF6427A2921E4A2A2EA92 ED9BA27?4A2 FA25EDA2A42P2F"FA27?4A25A4BBF64256F42F56EB4BA2A4211$22 2 2 'A27644DA26EEA6474B2A2A2ECFA264B2A8BEFBA27A2)E125&2AB2)E121&1$2342B 9A29A2 EAEA44B27429A27DBF92AB2%6E4F27429?)44A8A21$22 7ECFA212-BEBEA272BEF56F4A2%F44FAE27A25D4A2A42Q,27644DA2)E1&2 2 *429A27DBF9,29A25D4F5A27?E FBEA2F"4B2EFA4B222 6E29?)99A54A2AB29?@B9FA,2A4BEA27DKB2AB27DBA4BF6427FEABA27A2BFBEA274A2EB,2AB2 E4A#"FA2AB2D2E27BEA2EB2;2 6E29?(4A,2A4BEA27DKB2AB29A5A4B2A42D4DE92A4BEA214452AB2P2AB2A4BEA27DKB2 7?4A2EB,2D2E2AB2BFBEA27?BEA2EB2A4BEA2P2AB2112;2 6E2921E4A,2A4BEA27DKB,2D2E2AB2BFBEA27?4A2EB,2AB2E4A2"FA27?BEA2EB2;2 6E29A2(BB#34F,2A4BEA2BFBEA27?4A2EB,2D2E2AB2E4A#"FA27?BEA2EB,29A27DKB2 4?DB4B22%%ABD$2 2 @92%B246BAE2E2F99AE2A29?F5B27A2C627A29FF7FBD2D2E24A2"EFBF6424642 4BFFDA27A2"695A27A2EABEFB27DA4727A292BEBEA27A2F%2 4FEA22F4F,2921E4A2 AB29)99A54A264B2A2A86DA2742925AEA26R29A27DKB27A29FA4B89A24642 4FEA2 EAEDA4BA4B2A4"FE6429A2EB2AB29256FBFD272B6B92EAABF"A5A4B27ECFA2+,2A4244A8A&$2)2 1111111111111111111111111111111111111111 1111111111111111111 12)%F427A2EA47EA2A4265BA29A27F%%DEA4A2D6ECFA27429A25679FBD27?F4BAE5D7FBF64,29A2 7644DA2EDA4BDA2742ABBA2ABF642F49A4B2=BD5BFA5A4B2256F42BE6F2=21E4A,2 )99A54A,2(BB#34F&$2-?=2>6BA4B,2A42%64BF6427A2927F64F F9FBD27A27644DA,29?(4A,29?@B9FA2AB29A2 96=5A#34F$22 4 24 54 64 74 84 94 A4 2BB8 5447 5422 2BB8 5447 5422 2BB8 5447 5422 2BB8 5447 5422 2BB8 5447 5422 2BB8 5447 5422

CDDEFE E E DE FE ! " !

#$% &E

(7)

+2 64BEFEA26E29A2(BB#34F2A27DKB2EAEDA4BA4B29A27A82BFAE272B6B9272F%,25F2A2 =2E2F99AE2EDA4BA27A25D4F5A27E FBEA27A2A4B2A4BEA29A5A4B27A2B=A2 7F%%DEA4B2AB24642A4BEA27DKB2AB27DBA4BF6427FEABA27A2BFBEA$2*429?A4A5 9A,29?E FBEA2A4BEA2 7DKB2AB27DBA4BF6427FEABA27A2BFBEA24?AB27642"9F7D2FF2A27429A2A9227296=5A#34F$2 :624A2EABA46427642,2A2A2B7A,29A25D4F5A27A2C627A29FF7FBD2E29A2ABAE2 4FEA2 D2E2425D4F5A27A2 BFBBF642A4BEA27DKB2 4FEA2AB27DBA4BF6427FEABA27A2BFBEA$22 2 '27A8F85A2C=6BC8A27A2%6E59FBF642A24626CFB6425ABBEA2A42A2AB2A99A2F2 64FBA2A2F5F9AE29A26EBA%AF99A27A2ED7FB27A2 4A282A92ED7FB282A4BEAEFA$2)2 ABBA2%F4,29A27ECFA2,29A27ECFA22AB29A27ECFA2P27644A4B242AES,27429A22 EAABF%27A2921E4A,27A29?)99A54A2AB27A2(BB#34F,27A292BEBEA27A29?BF%27A2 4A,2AB2 7A2EF4F9A2EBDEFBFA27A26EBA%AF99A27A2ED7FB2825D4A$22 2

'2EA5F8EA27F%%DEA4A246B 9A264AE4A29?F56EB4A27A2ED7FB2825D4A22 F9427A2 4A27ECFA2,2 2AB2&22A4"FE64242BFAE27429A227A2921E4A,29256FBFD27429A2 27A29?)99A54A2AB215Q2742A9F27A2(BB#34F$2*429A227A2921E4A2AB27A29)99A54A,2 92"9AE27A26EBA%AF99A27A2ED7FB282A4B24642%F44FAE25A4BA256F42"FBA2A2A99A27A2 6EBA%AF99A27A2BFBEA$2A264BB2A2"DEF%FA2A292%6F2BA474FA99A5A4B2E29A4A5 9A27A292 DEF67A2AB,27A2%S642BE824ABBA26E2921E4A,27429A2DEF67A27A2E6DEFBD2144P#14442AB2 EB6B2#6&$2*429A227A2(BB#34F2264BEFEA,29A2E6EB2AB2B 9A2E29A4A5 9A2 7A292DEF67A,2A2F2F47FA24A2E6F4A2F5F9FEA27A292"9AE27A26EBA%AF99A27A2ED7FB2AB2 7A2BFBEA,2"6FEA2DEFAEA26E29A2ED7FB2A4BEA22AB25,2A29F4"AEA27A2921E4A2AB27A2 9)99A54A2)44A8A2,27ECFA26&$222 2 2 2 2 4 844444 2444444 2844444 5444444 5844444 2BB8 5444 5448 5424 /1)$.101F$E1E1D1.E11 12D1.E123E11 )$.1F$E (1 4 5444444 7444444 9444444 4444444 2BB4 2BB8 5444 5448 2/15E1.E1D6-1.E123E )E7,18) #$%1E23 (1 *DE1F2/ 4 544444 744444 944444 444444 2444444 2544444 2BB8 5444 5448 5424 /1)$.101F$E111EFE19E1D: )$.1)&19;<121: )$.1=&19>121: 4 844444 2444444 2844444 2BB8 5444 5448 5424 ./1)$.1?1=&101F$E11 .E19E1D: )$.1FF2DE )$.1/19>121: )$.1=&19>121: 7ECFA221E4A22ED7FB2825D4A2AB2F4BAE5D7FBF642 4FEA2222222222222222222222222222222222222222222222 A425F99F6427?(39,27644DA2D*(&2

(8)

2 2 7ECFA22)99A54A22ED7FB2825D4A2AB2F4BAE5D7FBF642 4FEA222222222222222222222222222222222222222222222 A425F99F6427?(39,27644DA2D*(&2 2 2 7ECFA2P2(BB#34F22ED7FB2825D4A2AB2F4BAE5D7FBF642 4FEA222222222222222222222222222222222222222222222 A425F99F6427?3-*,27644DA2D*(&2 4 2444444 5444444 6444444 7444444 2BB8 5444 5448 5424 /1)$.101F$E1E1D1.E11 12D1.E123E1 )$.101F$E (1 4 5444444 7444444 9444444 4444444 2BB4 2BB8 5444 5448 2/15E1.E1D6-1.E123E )E7,18) #$%1E23 (1 *DE1F2/ CE1- 4 584444 844444 A84444 2444444 2584444 2844444 2A84444 2BB8 5444 5448 5424 1/)$.101F$E11EFE19E1D: )$.1)&19;<121: )$.1=&19>121: 4 584444 844444 A84444 2444444 2584444 2844444 2A84444 2BB8 5444 5448 5424 ./1)$.1?1=&101F$E1 .E19E1D: )$.1FF2DE )$.1=&19>121: 4 5844444 8444444 A844444 24444444 25844444 28444444 2BB8 5444 5448 5424 /1)$.101F$E1E1D1.E11 12D1.E123E )$.1F$E (1 4 8444444 24444444 28444444 54444444 2BB4 2BB8 5444 5448 2/15E1.E1D6-1.E123E )E7,18) #$%1E23 (1 *DE1F2/ CE1- &D1 4 5844444 8444444 A844444 24444444 25844444 28444444 2BB8 5444 5448 5424 /1)$.101F$E11EFE19E1D: )$.1)&19;<121: )$.1=&19>121: 4 5844444 8444444 A844444 24444444 25844444 2BB8 5444 5448 5424 ./1)$.1?1=&101F$E11 .E19E1D: )$.1FF2DE )$.1=&19>121:

(9)

32 'A2A647264BB25>AE2EDF7A27429265EF642A4BEA29?A46E2B6B927A2ED7FB282

5D4A2AB29?A46E27A2ED7FB22 F9427A2 4A2,2,2P&2296E2A29A2EA5FAE2

EAEDA4BA2A4"FE6429256FBFD272A6472A421E4A2AB2A42)99A54A,282(BB#34F2F92AB27A292 1+Q2A426$2(42BAE5A27A2%6E59FBF64,2462EABA46427642924DAFBD27A2EA47EA2A42 64F7DEBF6427A254F8EA2DF%FA29A2ED7FB2825D4A2AB292%S642764B2F9264B27DBA4,2 74262A29?A8BDEFAE272=B85A2 4FEA,274292%6E59BF6427A292E89A27A2656EBA5A4B27A292 4A2A4BE9A$2 2 64AE44B292656FBF6427A26EBA%AF99A27A2ED7FB2825D4A2E2BAE5A2,2,2P&2AB2E2 7ABF4BF6427,27,2P7&,2A246"A,2F92A8FBA27A27F%%DEA4A27A2BEBEA$2*429A227A2921E4A2 AB27A29?)99A54A,292EB27A2ED7FB2A26EB2BAE5A2F4%DEFAE2A2124&2AB2BE82%F 9A2472A99A2 AB27?42EB272B6B92A4"FE64282(BB#34F$22E2F99AE,27429A27DBF927A292656FBF6427A2 ED7FB2A29642BAE5A,2921E4A2AB29?)99A54A2%64B2ETBEA24A2BEBEA2927F"AEF%FDA2A2 9A2(BB#34F26R2F92?FB2F2A89F"A5A4B27A2ED7FB2F556 F9FAE$2)2B6B9,27A8256789A2 7FBF4B2A8FBA4B2764224256789A2LAE6DA4L26R29A26EBA%AF99A27A2ED7FB2825D4A264B22 EF6EF256F42A4F 9A22EFA27A27D%F994A2A27A2ED7FB2A26EB2BAE5A,27F"AEF%FBF6427A2 ED7FB2A29642BAE5A&2,2AB24256789A2L5DEFF4L26R2F92=264B22EF6EF292A4F 9A2EB2 EA9BF"A5A4B2F56EB4BA272ED7FB2A26EB2BAE5A,27F"AEF%FBF642F2F4A8FB4BA27A2 6EBA%AF99A27A2ED7FB2A29642BAE5A&$2-E292 A27A29?C=6BC8A27A2A4%6E72M2:FAE26&27?4A2 E6=9FFBD27A27D%F994A27A26EBA%AF99A27A2ED7FB2825D4A22EF6EF2DEFAEA2A2A99A2 7A26EBA%AF99A27A2ED7FB282A4BEAEFA,2F92EFB27642A292E6  F9FBD26FDA2AB2<BEA2 4A2"EF 9A2A47684A27A246BEA256789A2BCD6EFA,27F%%DEA4FDA2A9642A99A264B27DBA4A2E2 9A2=B85A2 4FEA262A427AC6E,2A2F27DBAE5F4A29AE2BEBEA2E2BAE5A2AB2E27ABF4BF64$222 2 26E2649EA2E29A2%FB2B=9FD,2462EE6C64242F47FBAE2=4BCDBFA27A292EB27A2 5D4A27429?F4BAE5D7FBF642 4FEA27?4A2EB,2AB24A2DEFA27?ABF5BF6427A292E89A27A2 /=96E2EDA4B4B29276 9A2EBF9EFBD27A265EAE2(,21(*2AB2D(2AB27A2656EBAE27A2 BAB27A292E89A27A2/=96E25A4BDA27?42F47FBAE27A2647FBF642%F44F8EA27BEA2EB$22 'A2EE6CA5A4B27A27A82DEFA27?F4%6E5BF6427ECFA25&2%FB2ETBEA2429FA42A4BEA29A2 EBDEFBFA27A29?F4BAE5D7FBF642 4FEA2A42D4DE9,2AB29A26F7272ED7FB2825D4A2A42 EBF9FAE,27?4A2EB2;292EFA2A4265BA2E29A2BE6F2 4A2A4BE9A27A296 >ABF%27A2 B F9FBD2%F44F8EA,27?BEA2EB222

)82(BB#34F,29A26F727A25D4A27429?F4BAE5D7FBF642 4FEA2AB2EBF9F8EA5A4B2 D9A"D$2342DEB27A2E67BF6427A2E67BF642A2D9A"D2EA59FEFB276424A2647FBF642EFBFA2A2 96 BA4BF6427A292B F9FBD2%F44F8EA,29A2B827A2CK5A2AB276429A27D%F994A27A25D4A2 DB4B27FEABA5A4B29FD2A2AB2DEB$2'2 4A2A4BE9A2AB27642BCD6EFA5A4B2BBAF47EA,2 F47FEABA5A4B,296 >ABF%27A2B F9FBD2%F44F8EA2E29A274A2E89A27A2/=96E246425A4BDA22 7A2%FB,29A2BAB24A2"9F7A4B229?C=6BC8A27?4A2E89A25A4BDA$22

*4292H64A2AE6,29A26F727A25D4A27429?F4BAE5D7FBF642AB292%F 9A$2'6 >ABF%27A2 B F9FBD2%F44F8EA26A27D9EFE29255A27A2F47FBAE2A2EA47EA2A4264F7DEBF642# 7A9A27A292E89A27A2/=96E2F59A$2(42EBFA,26426 AE"A2A29A2BAB2"9F7A4B29C=6BC8A2 74A2E89A27A2/=96E25A4BDA2742F47FBAE27A2647FBF642%F44F8EA,2F2 FA27?F99AE2 A4F 9A5A4B292"9AE272E58BEA27A29DEB27A2E67BF64274292E89A27A2/=96E25FA2A42 I"EA2E292($2

(10)

'ABEA229A2"9AE26EEA6474B282ABF5BF642"A2E89A27A2/=96E2F59A264B2EAEDA4BDA262 %6E5A27A25EAE2BEF49FEA$2'ABF5BF6426EEA6474B2A292E89A27A2/=96E25A4BDA,2472A99A2 AB2F4F%FBF"A,2AB2EAEDA4BDA2A42 94$2 'A27644DA26EEA6474B2A2A2ECFA264B2A8BEFBA,26E29A2BBFBFA27?F4BAE5D7FBF64,27A2 6BF99FAE2M2EF644A21&,2AB26E29A2ABF5BF6427A2E58BEA27A292E89A27A2/=96E,27A2BE62 11&$2342B 9A27A2=4BC8A29A2EAEA44B2AB2%6E4F27429?)44A8A2$2 7ECFA252(BF5BF64272E58BEA27?DEB27A2E67BF6427A292E89A27A2/=96E25EAE,2 DCA99A27A2CA&2AB2EB27A2%F44A5A4B27A25D4A27429A2B827F4BAE5D7FBF6422A42 DBE6FB2CFB6E55A,2DCA99A27A27E6FBA,2A42Q&2 2 *429A227296=5A#34F,292EB27A25D4A27429?F4BAE5D7FBF642AB,2655A282(BB# 34F,2EA9BF"A5A4B2D9A"DA$2'?BBAF4BA27A296 >ABF%27A2E6F4A2EDA27642A42EBFA29A2647FBF642 7A292B F9FBD2%F44F8EA,2AB24A2A9A2"EF 9A27A29F47FBAE27A2647FBF642%F44F8EA2BABD29A2 EA727A2ED7FB&2F4BAE"FA4B27A254F8EA2F4F%FBF"A27429A27DFF6427A269FBFA2564DBFEA1$2

2

(42655A,29?DB7A27A2%FB2B=9FD2462AE5AB2A2A2B7A27A2EABA4FE26E29?D9 6EBF64272 56789A2BCD6EFA29A264BB2F"4B222

'A25D4F5A27?E FBEA2A4BEA27DKB2AB27DBA4BF6427FEABA27A2BFBEA24?AB229FEA5A4B2 "9F7D2655A26EA26F 9A27?42C627A29FF7FBD2%%AB4B29A2ABAE2 4FEA2;22

@92A8FBA,27A254F8EA2BE82CD5BFA,27A8256789A27?F4BAE5D7FBF64264AE44B2

DF%FA5A4B29A2ED7FB2825D4A2242EA5FAE256789A27429AA92F92A8D7A4B29EA5A4B2 9A2B6B927A2ED7FB22 F9427A2 4A2AB264B22EF6EF292A4F 9A22EFA27A27D%F994A2 72%FB27A29AE2656FBF642;2AB242A647256789A27429AA929AE2"695A2AB2A4F 9A5A4B2 1111111111111111111111111111111111111111 1111111111111111111 12D4246BA2E2F99AE,264AE44B292"9AE272E58BEA26FD2A29?DEB27A2E67BF64,2A29?C=6BC8A2 7?4A2E89A27A2/=96E25A4BDA2DB4B2"9F7DA26E292(2F47FBAE27A2647FBF642%F44F8EA&2AB292 D(2EA727A2ED7FB&,2AB226E29A21(*,2F9264"FA4B27A265EAE29A2"9AE2F"4BA221,1526E292 (,2,3+526E292D(,2AB292%6ECABBA2U1,4;1,PPV2"A24A2"9AE256=A44A27A21,P26E29A21(*$2 E 69@ E 751@  ! 46@ FE ! 94@ CDDEFE 74@ 43498 ADE1.E1&D1 FE$E 9E.1.E1$.: 23286 ADE1.E1&D1 FE$E1 9.E1.E1 .1 -AE:1 4 24 54 64 74 84 94 A4 44 B4 244 4 435 437 439 434 2 235 237 239 234 5 'B18) 'B1# 'B18' (   1. E 1 -    E F E   1. E 1 F $    E 1 9C     F F E 31 @ :1 *  DE   1E  F $ E 1 .  1   F A  E 1. 6$   1. E 1  .     1 9F  3  E   :

(11)

12 56F42F56EB4B2A29?A46E2B6B927A2ED7FB2A29?D6465FA2AB29AE2656FBF6429A2EA47256F42 A4F 9A22EFA27A27D%F994A$2 'A2 4A2A4BE9A,27429A2EA5FAE2,2AEFA4B2A49F4A2A29FAE24A2E89A27A2/=96E2 F59A2;2AB27429A2A6472,24A2E89A27A2/=96E25A4BDA27?42F47FBAE27A2647FBF642 %F44F8EA$22 2

$2E8"A2EA"A27A2929FBBDEBEA2

9AEA4642A2BE6F26F4B$2'A27A82EA5FAE264AE4A4B29A256789A27F4BAE5D7FBF64,2 EAABF"A5A4B26E2A2F264AE4A29A2F%2AB29BF%27A2 F942 4FEA,2AB29A2BE6FF85A29A2 C6F827A269FBFA2564DBFEA2F2A42ED9BA4B$2:6BEA26 >AB2AB27?F4BDEAE2A25D4F5A22 %64BF644A5A4B274256789A2BCD6EFA2F59A127?F4BAE5D7FBF642"A2 4A2A4BE9A,2%F427A2

7DEFEA292ABF64274A2EFA2D4DEDA2E242C627A27D%F994A246424BFFD2E29A2 6EBA%AF99A27A2ED7FB2825D4A$226E2A2%FEA,2462EB6427A29F7DA27A26BF99FAE2AB2 EF644A21&2A96429A99A29F4BAE5D7FBF6426EEFB2<BEA25AEDA27A254F8EA27DBA2 E29A27EDB27F4BAE5D7FBF64,264BEFB2A2EBFE27A2%F44A5A4B27F%%DEA4FD2A42 %64BF6427A29D5ABBAE2AB27A29DEAE27A2CA2B=A27BF%$2ABBA25DBC67A2AE5AB2A42A%%AB27A2 7DBAE5F4AE29F56EB4A27A29F4BAE5D7FBF642E2E6EB22B6B927A2%F44A5A4B27A2 9D6465FA,2429A2 FF26FD2A2924642EFA2A4265BA27A2%F44A5A4B2F4BAE4BF6482E2 62A427FEABF6427A2A4B2EDF7A4B,2F264BFBA292%F 9AA27A2B827F4BAE5D7FBF642A9$2 :62EAEA46429A2EF4FA27A2A2EDB27F4BAE5D7FBF642A42F4BE67F4B24A27FBF4BF64,2 6E29A25ECD27A2ED7FB,2A4BEA25D4A2AB2A4BEAEFA2726F4B27A2"A27A2A5E4BAE,2AB2 A4BEA2 4A2AB2F4BFBBF6424642 4FEA2726F4B27A2"A27A2E<BAE$2)F4F,2F92AB26F 9A27A2 EA47EA2A4264F7DEBF642A292%6F29A2EK9A2DF%FA27A2ED7FB2825D4A2AB2A9F272ABAE2 4FEA2%4BK5A2)7EF42M2-CF4,212;2)(,211&$2 2 64AE44B29A25D4F5A27A27D9A4CA5A4B272C62F4FBF9,2929FBBDEBEA2BCD6EFA2EDA4BA2EABA2 %647DA2E29A25D4F5A27?E FBEA2A4BEA27DKB2AB27DBA4BF6427FEABA27A2BFBEA2655A26EA2 7A2C627A29FF7FBD2%%AB4B29A2ABAE2 4FEA21EAF82AB2B6EA,242;2-BAF4,21&$2 '?AES27A2%FB2B=9FD2564BEA2A2A25D4F5A,2A42EBFA,24A2A5 9A22"9F7D2E27A2 7644DA2EDA4BA$2)9BAE4BF"A5A4B,2929FBBDEBEA2A5FEFA2)7EF42M2-CF4,21&2%FB2

ETBEA29?A8FBA4A27A2C62E29A2 F9427A2 4A2655AEF9A,2A%%ABF"A5A4B2D4DED2 E29A2656EBA5A4B27A25D4A,2464262%6E5A27A2C627A27DKB25F27A2C627A2 7D%F994A27A2ED7FB$2'59AE27A2A2C627A27D%F994A27DA47296E27A25679FBD27A2 9?F4BAE5D7FBF642AE47B2M27B,242;222E44475,211&$2(42EBF9FAE,29A2ED7FB2BFBEFD2 %64B29?6 >AB27?42EFA27A27D%F994A2DEFAE2A2A8264AE"D2>?A29AE2BAE5A22 F9427A2 1111111111111111111111111111111111111111 1111111111111111111

12:6BEA26 >AB24?AB227A264BEFEA24256789A27?DF9F EA2D4DE9,25F24256789A2F59A2

7?F4BAE5D7FBF64265BF 9A2"A2925FA2A42I"EA27?4A269FBFA2564DBFEA2464264"A4BF644A99A$226E2 B4B,22DF%FBF642"FA2A2EA47EA2A4265BA29A2EF4F9A29F5FBA27A256789A2*-7(2742A2 64BA8BA,246B55A4B292E6 9D5BFA27A2EA72A476D4DFBD29F5FBDA,2%69FBF642E292EA9BF642 4A2.2):1227DBEF5A4B27A292EA9BF642A4BEA2 4A&2AB29?F4%%F4BA264F7DEBF6427A2 64DA4A27A29?BBAF4BA27294CAE27A2B827?F4BDE<B2EED,21&$22

22E2E6EB2A29A4A5 9A27A2%F44A5A4B27A2A4B24642%F44FAE2EDF7A4B,29A2B827F4BAE5D7FBF642 2A42DBE6FB26EEA6472A292EB27A2ED7FB2F27F4BFBBF642%F44F8EA2EDF7A4BA,2AB29A2B82 7F4BAE5D7FBF6422A429EA2A292EB27A29A4A5 9A27A2ED7FB26EBD2E2A25<5A2F4BFBBF642

EDF7A4BA,2A2A26FB262%6E5A27A2ED7FB2627CB27A2BFBEA$2'A2%9827A2%F44A5A4B2A427FEABF64262 A42E6"A44A27A29A8BDEFAE24DB4B22EF2A4265BA,29D"9BF6427A292EB2EAABF"A27A2

(12)

4A2F29A264B27FBF D1$22E2F99AE,2ABBA27F%%DEA4A27429A2E6  F9FBD27DA472

"EFA5 9 9A5A4B26FBF"A5A4B27A29264A4BEBF64272=B85A2 4FEA,2D4DE4B242 C4A5A4B27A2656EBA5A4B27A2 4A27429A2A427?4A2ED7BF6427A29AE2"AEF6422 EFA27667CEB,262;21A7AE929AAE"A24C26%2*99,2112;26E24A2F99BEBF642ECFA2 7A2A2E662"6FE2)44A8A2&$2A27AE4FAE26F4B24AB22F4927429A256789A,26R2927F%%DEA4A2 7429A2E6  F9FBD27A27D%F994A24A27DA472A272EFA27A2B82AB27A29DEB27A2E67BF64$2 /6BA%6F,2ABBA27F%%DEA4A2AB2%6E59FDA262%6E5A27A265 F4F6429F4DFEA2F59A,2742 9A99A29A27AED27A264A4BEBF642 4FEA26EEFB2FD5A4B2<BEA2F4BE67FB$22 2 64AE44B29?6EFF4A29BF5A27?42BA92C627A27D%F994A2E29A26EBA%AF99A27A2ED7FB282 5D4A,292%6E59FBF642A276FB27A2EA47EA2A4264F7DEBF642A292%6F29A2656EBA5A4B2 EF"D,22BE"AE27256789A27?F4BAE5D7FBF64,2AB29A27DFF6427A269FBFA2564DBFEA$2'2 9FBBDEBEA2EA9BF"A2A292EFA27A262F99BEA2ABBA276 9A29FBD$2*4A2EB,29A2567A2 7F4BAE5D7FBF64264B2 F27A25BBF642ED9B4B27A2W2C6276%%EA2X2E29A2EDB2 564DBFEA,29FD22656EBA5A4B27A2 4A2655AEF9A27667CEB,26&274242 64BA8BA27E6FA5A4B27A2929FF7FBD27A29AE2 F942D4DEDA2E29A27DDF9F EA2

F4BAE4BF64827A2 94A27A2FA5A4B22699F4,24&$2*BEA2EB,296E2A2A2E5A4B2 BA47A4B2A2EA9BF"FAE292EA64 F9FBD27A2 4A2A4BE9A2A42D4DE92AB2721(*2A42EBF9FAE,2 4A2EBFA27A2929FBBDEBEA2A5FEFA2EDA4BA,2E292 A27A292BCD6EFA27A2BE45FF6427A292 69FBFA2564DBFEA2E249272ED7FB2AE44CA2M27AEB9AE,21445&,25AB2A42A29A2C4A5A4B2 7A264BA427A269FBFA2564DBFEA2E2A8A59A,26F"F42M29$,21&$2(4264DA4A,2742 46BEA256789A,29A2C627A27D%F994A2E29A26EBA%AF99A27A2ED7FB2825D4A2AB27D9A4CD2 E24A27DFF6427A2EA98"A5A4B272B827F4BDE<B27FEABAE2EFA2A4264%6E5FBD2"A292E89A27A2 69FBFA2564DBFEA27A292 4A2A4BE9A$2'A2EBDEFBFA27A29F4BAE5D7FBF6427DBAE5F4A4B2 A4FBA29A264DA4A27A2A2C6,2F24A27DB F9FA29A4A5 9A272=B85A27A2%F44A5A4B2 A2F29A2%F44A5A4B27A25D4A2AB27A2A4BEAEFA2EDA4BA4B24A2%EF9FBD,2EAABF"A5A4B2 A42BAE5A27A2EFA27A2B82E29A2ED7FB2EDA8FB4B2AB27A2A4F F9FBD27A2647FBF6427A2 %F44A5A4B$22

2

)#7A9A27A292E6 9D5BFA272C62F4FBF9,292%6E59FBF64272656EBA5A4B27A292 4A2 A4BE9A27429A256789A276FB2BF%FEA2A24A264BEF4BA2DF%FA2292E89A2BF9FDA276FB2 AE5ABBEA27A27DEFEA2A292%6F29A27DFF642EFA27429A2DEF67A2BE4F99A,2AB29A2 F4BAE"A4BF6427A2ABF6427A2C6$2'A274A2E89A27A2B=A2/=96E2/=96E,2144&2AE5AB2A42 EBFA27A2ED647EA2A2AB26 >ABF%$2@92EABA2AA474B2A2A427DBAE5F4AE292%6E59BF642EDFA$2'2 D4DE9FBF6427A29A27A2ABBA2E89A2EA6A,29EA5A4B,2E22F59FFBD,2F2A4264BFBA2A292 %6F29B6B2AB2929F5FBA2*E5ABH2M2AE7AF9C4,21446&$2)F4F,29A2BE"82F2A4264BFBA4B29A2 1111111111111111111111111111111111111111 1111111111111111111

12*26F4B27A2"A272F%27A2 4A2F26E7A4B29A2ED7FB,22E44475211&2DB 9FB2D9A5A4B2 A29A29FA42A4BEA2BFBEFBF642AB27D%B2E29A26EBA%AF99A27A2ED7FB26EEA6474B2A2BE6"A2EA4%6ED2 4729A2 4A264B2A2EA6E22%F44A5A4B2BE7FBF644A92E29A27DKB,265EBF"A5A4B282 %F44A5A4B27A25ECD$2A2ED9BB2"9F7A29A2EF4FA27256789A2BCD6EFA27A2-BAF421&,26R29A26NB27A2 9FF7BF6427A2BF%2AB2A47684A2AB26FBF"A5A4B2EA9FD2A292E66EBF6427A2%F44A5A4B27A2 4A2 ED9FD2A26EB2BAE5A$22 2'A256789A2BCD6EFA27A26F"F42M29$21&,27A2B=A2*-7(,2"FA2A2F4BDEAE29A24827A2BE45FF6427A2 9269FBFA2564DBFEA2W2464#4D69FA2X2 D2E29A2ED7FB,2F2C FBA99A5A4B24A29A264B2,22 64BEFEA27A2482W14D69FA2X$2'A2ED9BB27A2BAB,2F4B27A292AEBA27A%%FFBD264BBDA2 7A269FBFA2564DBFEA,2F47FA4B2A29D"69BF6427A264BA427A2A269FBFA2AB2642A%%AB2E29A2 4BFFBF642EF"DA,2>6F4BA282567F%FBF6427A29A4"FE644A5A4B2ED9A5A4BFEA,2AEFA4B292EF4F9A2 6EA27A29AE2ED7BF6427F5B2E29F4%9BF642AB29BF"FBD2D6465FA$2

(13)

12 E6964A5A4B292659A8F%FA4B,2A42EA5FAE29FA26E2A2F264AE4A29A29927A2DEB2 7F4%9BF642AB27A2E67BF64$2'2EFA2A4265BA27A29F4%9BF6424BFFDA2AB2F4BE67FBA2E29EF72 M29$21443&,29A29927A2A99A#F2%F4B27D B2-AE2M2-BE5,26&$2'A29927A29DEB27A2 E67BF642%FB296 >AB2D9A5A4B27A2BAC4FA2D6465DBEFA2DF%FA2ED644FAE2M2 9A44A,2P&$2DBEA2ABBA2E6 9D5BFA27A2DEB27F4%9BF642AB27A2E67BF64,264B2DBD2BABDA2 46B55A4B29A2C=6BC8A27A22"9AE27A2E58BEA2DF%FA2A2CA2 4A2A4BE9A2 'A"FAA2M22A46B,23&2;27A246429F4DEFBD27A292E89A2CFAE542M2EBA99F,2312;2BE6,2

11&2;2627A292EFA2A4265BA27A296 >ABF%27A2B F9FBD2%F44F8EA2"F24A2E89A25A4BDA2 7F47FBAE2F4%6E5BF644A92-BE52M2*A2Y4,211&2627A2647FBF642%F44F8EA2BE6,2 11&$2 2 :62EABA4642ABBA27AE4F8EA2%6E59BF6426E29264BEBF6427256789A,26FB24A2E89A27A2B=A2 /=96E27A2%6E59BF642F59A,25A4BDA2742F47FBAE27A2647FBF642%F44F8EA$2-E29A2942 BCD6EFA,2ABBA27D9F4F6427A292E89A27A2/=96E2EA6A2E29A2BE"827A2@EA9472P&,2 F4BE67F4B274292E89A27A269FBFA2564DBFEA29A2%9BBF6427A292W2DEB2564DBFEA2X,26FB2 9DEB2A4BEA292"9AE26 AE"DA272B827A2E6F4A2BA474FA927A2925A2564DBFEA2AB22 "9AE27A2ED%DEA4A26CDEA4BA2"A292F 9A27F4%9BF64$2-F4B272B=A27F47FBAE27A2 647FBF642%F44F8EA2A2EABA4FE,2F92A8FBA27A82%6E59BF6426F 9A274A2E89A27A2/=96E2 5A4BDA2)(,211&226FB29A27F47FBAE27A24BFBD,2655A2E2A8A59A29A2"695A2 7A2ED7FB27FBEF D2;26FB29A27F47FBAE27A2EF827BF%2627A26NB27A2%F44A5A4B,2 655A2E2A8A59A29A2EA727A2B82E89A27A2/=96E2L>BDAL,2E7F2M2F667%6E7,24&$2 ABBA2A647A2%6E59BF64,27429A227A2EF827BF%,2AB2>BF%FDA2E29F7DA2A96429A99A292 5AEA2A99A27A29F4%9BF642AB2F4E6EFDA,246B55A4B2EA2A99A24F4B8EA22A2EF82 7667CEB,26&$2'2E89A27A269FBFA2564DBFEA27256789A2AB2%6E59DA2A2EBFE274A2E89A27A2 B=A2/=96E25A4BDA2742F47FBAE27A2647FBF642%F44F8EA27A2EF8,27A2ED%DEA4A282 4BFBD,2F264B2EFA2A4265BA2E2F99AE2"6FE292 &$2(42EBFA,29A2C62F4FBF92DB4B2 BE45F27429A256789A2"F29A25ECD2F4BAE 4FEA,2462EABA4642655A2F47FBAE27A2 647FBF6427A2%F44A5A4B29A2EA72F4BAE 4FEA21EAF82M2B6EA,23&,2F2AB2E2F99AE2 42F47FBAE2EF"F9DFD27A2BA4F642%F44F8EA2)FB2-C9F2M29$,242;2/=96E2M2FF99F5,2 42;2F,23&2 2 'F7DA2A96429A99A2F92A8FBAEFB242EAB6E27A29F4BDE<B274292%6E59BF6427A269FBFA2 564DBFEA282"EF 9A27A24BFBD2AB22A9A5A4B27A2EF82AB2BE4"AE9A274292 9FBBDEBEA2EDA4BA2E2A8A59A,26E7A2M29AE,21262)7EF42M2-CF4,21&$2)F4F,2A9642 6E7A2M29AE21&,29C=6BC8A27F5AE%ABF642%F44F8EA29F5FBDA225ECD27A2929FF7FBD2 4FEA2AB24%%AB4B24F29A25ECD27A2BFBEA24F2A9F272ED7FB2A2BE6"A2>6E7CF29EA5A4B2 EA5FA2A42ABF64,2A2F2>BF%FA29 4764272EF4FA27A2DEBF642A4BEA269FBFA27A2 B F9FBD2564DBFEA26FDA2A29269FBFA27A2B8&2AB2%F44F8EA26FDA2A29269FBFA27A2 1111111111111111111111111111111111111111 1111111111111111111

12-E292 A274256789A2BCD6EFA2DF%FA2DB 9F4B29A29FA42"A29=5DBEFA27A2ED%DEA4A27A2 4A2A4BE9A,2A99A#5<5A2%64BF64272EDF5A27A269FBFA2564DBFEA,2CFAE542M2EBA99F23&2 BABA4B29246429F4DEFBD27A2E89A27A2/=96E27A292D(2AB2721(*$2*429A27A82,29A2ED9BB264B2 65BF 9A2"A292BC8A27A2%64BF6427A2EDBF642AB27A2E6EFDBD27=5DBEFA27A2%64BF6427A2AEBA2 6#>A4BA2C4A4B2"A29A2EDF5A27A269FBFA2564DBFEA2AB29A2ED6BF6425E6D6465FA2 5>AEA272565A4B$2

2'A2BAB2ED9FD2E2F23&2564BEA4B2A29A2EA72F4BAE 4FEA264B2A4F 9A282D"84A5A4B2 E"A42E29A25ECD27A2BFBEA2659A8A,2A292%6F27FEABA5A4B2E29A2 FF27A2B827A27D%F994A2E2 9A2ED7FB2C=6BCDFEA2825D4A2AB2F47FEABA5A4B2E2A9F27A2*-2E29A2ABAE2 4FEA,2A2F2 EA472AB2F47FBAE2EBF9F8EA5A4B27BD2A246BEA2E6 9D5BFA$2

(14)

ED7FB&$22E2F99AE,26E2A2F264AE4A246BEA256789A,292%6E59FBF64274A269FBFA2 564DBFEA27BDA2A292ABF6427A2EFA,276427A2B=A2464264"A4BF644A92AE44CA2M29$,2P&2 "A29A2BE6F2F4BE5A4B2A99A2656EBA2C FBA99A5A4B2B827F4BDE<B,2F4>ABF6427A2 9FF7FBD2AB2CB27A2BFBEA1&,24A2AB2A29F5FBAE2A29A274A2E89A27A2/=96E25A4BDA,2F2 4A2EA472A4264F7DEBF642A29427A2BE6F2F4BE5A4B256 F9FD$226E2A27A82EF64,2462 F4BE67F64274292E89A27A269FBFA2564DBFEA29A2"EF 9A27A24BFBD2256=A427A292 %6E59BF642DEDA27A2564B4B27F4>ABF6427A29FF7FBD2AB27CB27A2BFBEA2D"A4BA92 EBFD2E292 4A2A4BE9A$2 2 (42 EA%,29A256789A2656EBA276429A2D9D5A4B2F"4B226E2A2F264AE4A292 4A2 A4BE9A,292E89A,27A2B=A2/=96E25A4BDA,27A2%F8BF64272B827FEABAE27429A256789A2AB2 6EBFA27A2647FBF6427F4BAE"A4BF642E29A27A82BEA2"69AB26F 9A27A29269FBFA2 564DBFEA2F4>ABF6427A29FF7FBD2E29A25ECD2F4BAE 4FEA2AB2CB27A2BFBEA&$2'2 65 F4F6427A2A2BE6F2D9D5A4B2AE5AB276 BA4FE24A2E89A27A269FBFA2564DBFEA2EA474B2 65BA27A254F8EA2A8CBF"A27A27DFF6427A292 4A2A4BE9A,2A292%6F2"4B2AB2E829A2 C6$2A9F#F2AB27D9A4CD2E24A2CA246424BFFDA272B827A27D%F994A27A25D4A2 E29AE2ED7FB,2764B2959AE2AB29A264DA4A27DA47A4B27256789A27F4BAE5D7FBF64$2'A2 EBDEFBFA2A4264B27D%F4FA2E292EDEBFBF6427A2%F44A5A4B27A27F%%DEA4B2ABAE2 D6465FA,29A2ED7FB2825D4A26"4B2<BEA29BAE4BF"A5A4B27DBA42E27A2 4A262 7A2F4BFBBF6424642 4FEA2AB29A2%F44A5A4B27A2A4BEAEFA2ED9FD262%6E5A27A2BFBEA2 627A2ED7FB$2 2

P$2E6789A2BCD6EFA22BAE2AB2A4"FE644A5A4B272=B85A27A2

%F44A5A4B2

ABBA2ABF64264BFA4B2927AEFBF6427256789A27F4BAE5D7FBF642%F44A5A4B27A27F%%DEA4B2 B=A27A4B2D6465FA2E29A27F%%DEA4B2A5A4B272=B85A27A2%F44A5A4B,2P$1$&2AB27A2 647FBF6427A2%F44A5A4B26FDA2A2A27F%%DEA4B2A5A4B2P$$2A2P$P$&$2(99A264BFA4B2 D9A5A4B292E89A27A269FBFA2564DBFEA27A292 4A2A4BE9A2P$5$&2AB292DA4A27256789A2 P$+$&$22 2 P$1$21F44A5A4B27A2A4B2D6465FA2AB264%FEBF6427A25ECD2 @92A8FBA27A82B=A27BF%27429A256789A229A2ED7FB,2AB29A2BFBEA$2'A25ECD27A2ED7FB264B2 46BD2125ECD2F4BAE 4FEA&2AB22ED7FB282A4B24642%F44FAE&$2'A25ECD27A2BFBEA2 64B246BD2(25ECD27A2927ABBA2 9FA&,2(125ECD27A2BFBEA2EF"D2F59A&2AB2(2 5ECD27A2BFBEA2EF"D2659A8A&$22 2 'A2%F44A5A4B27A2A4B27429A256789A2AB2ED9FD2655A2FB2/ 9A2132F#7A6&22 1111111111111111111111111111111111111111 1111111111111111111 12-E2A27AE4FAE26F4B,2EFCCF42144+&246BA27D>A2A2W29269FBFA2564DBFEA2UCB27A2BFBEAD2AB2<BEA2 42F4B2%BAE27A2EA94A27A2D6465FA265FA2A24A27D%9BF642AB26R29A2B827F4BDE<B2A26EB2 BAE5A264B2E6CA27A2HDE6$2*A2%FB,265BA2BA427A27D9F2F4CDEA4B2A29269FBFA2 7DBFEA2AB27A2 64BEF4BA269FBFA2F28A4B2E2642BF9FBF64,2925FA2A42I"EA274A269FBFA2564DBFEA2 A84F644FBA2AB29E5A2AA4BFA99A26E2AE5ABBEA292EA94A274A2D6465FA27D%9BF644FBA2X$2

(15)

1P2

26E29(BB,262%6E5A27A2BFBEA$2

26E29A25D4A,262%6E5A27A2ED7FB$2'A2ED7FB264BEBD2E29A25D4A264B27DBA42 EBFA99A5A4B2 E2 9A2 4A2 E66EBF642C 2 72 B6B92 7A2 ED7FB2 4FEA&2 AB2 7A2 54F8EA2 659D5A4BFEA2 E2 9A2 F4BFBBF642 4642 4FEA2 @:&$2 'A46E2 7A2 ED7FB2 7DBA42 E2 9A2 4A2 46BD2 &2 AB2 64BEBD2 A2 B82 %F8A,2 AB2 A9F2 7DBA42 E2 9A2 @:2 46BD24 &2A2 B82

"EF 9A$2

26E29A2A4BEAEFA2ABAE24642%F44FAE&,262%6E5A27A2ED7FB2 4FEA2E66EBF6421#C &2 72B6B927A2ED7FB2 4FEA&2AB27A2BFBEA2F59A$2

26E2 9A2 ABAE2 %F44FAE,2 9A2 %F44A5A4B2 7A2 4A2 AB2 ED9FD2 62 %6E5A2 7A2 ED7FB2 F4BAE 4FEA2AB2A9F27A2@:262%6E5A27A2BFBEA2659A8A$2 2 )BF%2A42 69644A&2 -ABAE2 D4D%FFFEA2 A429F4A&2 (2 /FBEA2  9F2 (12 /FBEA2EF"D2 F59A2 (2 /FBEA2EF"D2 659A8A2 12 ED7FB2 F4BAE 4$2  2 ED7FB2 BF%2 4FEA&2 4 2 ED7FB2 BF%2@:&2 (BB2 Z2 2 2 2 2 22

(4BEAEFA2 2 Z2 2 2 1#C&2Z2 &2 2

ED4A2 2 2 2 2 C2Z2 &2 Z2 4A2 2 2 2 Z2 2 22 @:2 2 2 Z2 2 2 22 / 9A2121F44A5A4B27A2A4B2D6465FA2 1 'A256789A27F4BAE5D7FBF642AB27642EBDEFD2E29A26A%%FFA4B2F"4B22 '2EB27A25D4A27429A2ED7FB2 4FEA2C $22 '2EB27A2ED7FB2825D4A27DBA4A2E29A2@:2E2E6EB2A29A4A5 9A27A2ED7FB282 ):1,26EEA6474B2A2222 [\] []&2^2[\]2 '2EB272%F44A5A4B27FEAB27A2A4BEAEFA,26EEA6474B2A222 _1 1 ` a]&2[]& ^ 2_122 2 P$$2647FBF6427A25ECD225ECD27A2ED7FB2 -E292 A27A2BF7642M29$21&,2CA2BF%2AB2EBDEFD2E27A2647FBF6427A25ECD2 7D%F4FA2E292EF5A27A2EFA2AB2927A547A2A8D7A4BFEA27A2%F44A5A4B$226E242BF%27644D,2 92EF5A27A2EFA2b2AB27D%F4FA2655A29DEB2A4BEA292ED54DEBF642465F49A2E2AB29A2B82 7FEABAE2E$2'2ED54DEBF642742BF%27644D2A27D656A27642655A2FB22 2 c d2cef^ 2g22 1&2 2

-E29A25ECD27A2ED7FB2F4BAE 4FEA21&2AB27A2ED7FB282):12&,2927A547A2A8D7A4BFEA2 7A2%F44A5A4B2EF2AB25AEDA2E29DEB2A4BEA2927A547A2*F2AB296%%EA27A2ED7FB2-F,2F2

(16)

E6TB2"A295A4BBF64272B827F4BDE<B$2A2ED9BB2AB26 BA42629276 9A2647FBF642 A2B6BA25A4BBF64272B827F4BDE<B2465F492E6"6A24A27DE7BF6427A29ADE4A27A2 EA47A5A4B2 4FEA2E2D9D"BF6427A292E6  F9FBD27A27D%F994A26FDA2826EBA%AF99A27A2 ED7FB,292%64BF64276%%EA2EDDA2DB4B296E2B6>6E27DE6F4BA,2AB2A99A26FB2A426BEA292 A4BA2A292%64BF6427A27A547A$2'A2DEF67A27A2B827F4BDE<B2 2D9A"D&264B296E2 EBDEFDA2E24A26%%EA27A547A&2A8D7A4BFEA27A2ED7FB$2-E29A2942A5FEFA2ABBA2 DF%FBF642AB2>BF%FDA2E29A264BB2A96429AA927429A2DEF67A27A2BA4F6429A26NB27A2 %F44A5A4B25A4BA4B2F59B4D5A4B2A292 FA27A2A46E1$2ABBA2%64BF6427?6%%EA27A2

%F44A5A4B2AB,2A426BEA,29AF4A5A4B265BF 9A2"A29AEFB27A25D4F5A27A2BE45FF642 7A29269FBFA2564DBFEA2E29A249272ED7FB2A4227A2C626FBF%27A26NB272FB9,2 56F47EA27F64F F9FBD272ED7FB2E2EA4%6EA5A4B27A2=5DBEFA27?F4%6E5BF642A4BEA2E<BAE2 AB2A5E4BAE&2AB29A24927A292EFA27A2EFA256F47EA27F64F F9FBD272ED7FB2E2 E6FA5A4B27A29?"AEF6422EFA27A22E<BAE&$2-6FB222 2

[hi d jeicei& ` keicei&2 &2

ljei lcei m , lkei lcei m , ljei lcei m lkei lcei2 2 2 '2ED69BF6427256789A2AB2ED9FDA2A42%F4B29C=6BC8A27A2%64BF64276%%EA2AB27A27A547A2 9F4DFEA2E29A25ECD2F4BAE 4FEA2222 2 ken2d2`2o2cen2^ 2p, o q , p q 2 2

jen2d2`2r2cen2^ 2s, o q r q 2tu2p q s q 222 2

[hnd o ` r&2cen^ s ` p&2 &2

2

P$$2EECD27A2BFBEA2EF"D2

-E29A25ECD27A2BFBEA2EF"D,26EEA6474B282F47FA2(12BFBEA2F59A&2AB2(2BFBEA2 659A8A&,2927A547A2A8D7A4BFEA27A2%F44A5A4B2(EF22AB25AEDA2E29DEB2A4BEA296%%EA2

-(F2AB2927A547A2*(F27A2BFBEA22B827A2EA47A5A4B2465F492E(F$2655A2E29A25ECD27A2 ED7FB,292%64BF6427A27A547A27A2BFBEA26%%EA27A2%F44A5A4B&2AB26DA27DE6F4BA2AB2 92A4BA2A292%64BF64276%%EA$22

2

_hi d kvicvi& ` jcvi&222 P&2

ljvi lcvi m , lkvi lcvi m , lkvi lcvi m ljvi lcvi2 2 2 *4292ABF642527256789A,29A2%64BF6427A27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A2 5ECD27A2ED7FB282):12AB27A2BFBEA2EF"D264B2659DBDA2E292EFA2A4265BA27A27A82 D9D5A4B29D5A4BFEA2274A2EB,29=5DBEFA274292EDAEF6427A27DFF6427A2B82 1111111111111111111111111111111111111111 1111111111111111111 126FE2)44A8A2+$226E29A2-:1,29?A%%AB2AB254F%ABA2A4BEA2%F4262AB2%F4232AB2D9A5A4B2A426E2 7?44DA211$226E29A25D4A,2F929AB2D9A5A4B22A4BEA2%F4262AB227D B232AB282BE6F27AE4FAE2 BEF5ABEA2112B F9FBD27A2B827D FBAE2AB2 FA27A29?A46E&$226E29A2A5A4B2F4BAE 4FEA,2 9?F7A4BF%FBF6427A292EA9BF642AB256F42D"F7A4BA265BA2BA427A29256F47EA27F64F F9FBD27A27644DA$2D42 EABE6"A2AA474B292EA9BF6424DBF"A2A4BEA2ED7FB2AB22B827?F4BDE<B,2EBF9F8EA5A4B26E29A244DA2 6#32AB292 FA27A2"695A264BBDA2A4212E2E6EB2A4211$22

(17)

1+2 7F4BDE<B27FEABAE12;2AB27BEA2EB,2926F F9FBD274A2E"BF6427A2927A547A2

A8D7A4BFEA27A29FF7FBD2ED9B4B274A2AEFB4A27A29F4%%F4A276%%EA27A29FF7FBD2EF"DA2 E29A25ECD2F4BAE 4FEA$2

2

P$P$2EECD27A2927ABBA2 9FA2

'A25ECD2EF5FEA27A2927ABBA2 9FA26EEA6472A29F47FA2($2'6%%EA27A2BFBEA2-(27DA472 74A26564BA2A8684A2kw24F"A2BEBEA9,2A429 A4A27A2C6&2AB272564B4B27A2 5AEA27A26BFA4282ABAE2B6CD2E242C62D"A4BA9$2'A2C62%%ABA29BF"FBD2 D6465FA2742642A4A5 9A2AB29A27F%%DEA4B2B=A27BAE264B27B4B292%%ABD2A2 9AE27A547A2A8D7A4BFEA27A2%F44A5A4B2AB2F56EB4BA$2'A25AEA2 7DBFEA27A26BFA42 A29BF"FBD264B296E2EDEBFA2E66EBF644A99A5A4B2A2A27A547A2A8D7A4BFEA27A2 %F44A5A4B222 2

-xyd2-z ^ {2U*|n` -|n& ^ *|}` -|}& ^ -xn` *xn& ^ -x}` *x}&V, { q 2 2

2 (4227A2C6,296%%EA27A2BFBEA2A2BE6"A276425A4BDA272564B4B27A25AEA27A26BFA4,2 EAABF"A5A4B,22ABAE2%F44FAE2A4227A27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A2 5ECD272ED7FB2F4BAE 4FEA2AB2E29A25ECD27A2BFBEA2659A8A&2;2825D4A2AB282 A4BEAEFA272ABAE24642%F44FAE2A4227A27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A2 5ECD27A2ED7FB2AB27A2BFBEA2F59A&$22 2 '27A547A27A2BFBEA2*(2EA4724A2%6E5A2F5F9FEA$2(99A27DA4726FBF"A5A4B274A2 6564BA2A8684A2*~22EBFA2DEFDA27A26EBA%AF99A,264%6E5FBD282ED9A5A4BBF642 E7A4BFA99A&,24DBF"A5A4B27A2959AE2727D%FFB2 9F26E4B2-(,2AB26FBF"A5A4B27A2

A%%AB27A2%FBA2"AE2929FBD2D4DED2E27A27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A2 BEA25ECD$2-A964292A4F F9FBD27A2A4B2D6465FA224F"A27A27D%FFB2 9F,292

64%FEBF6427A29AE2"AEF6422EFA2AB29A2"9AE27A2E58BEA22AB2€2F2A42ED9BA4B,29A2 697A27A27A827AE4FAE2A%%AB2AB276426FB26FBF%22%F 9A,2€2D9A"D&,26FB24DBF%$2D4246BA22 2

jvyd j~ ` kvy^ ‚Ujen` ken& ^ je}` ke}& ^ kvn` jvn& ^ kv}` jv}&V,

 q , ‚ q 22 2

2

(42EA59S4B292%64BF64276%%EA2E22"9AE26426 BFA4B22 2

jvy2d j~ ` kw& ^ ‚ ` ƒ&Ujen` ken& ^ je}` ke}& ^ kvn` jvn& ^ kv}` jv}&V2 2 2 '27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A25ECD27A2927ABBA2 9FA2AB2764292 F"4BA22 2 1111111111111111111111111111111111111111 1111111111111111111 12:6B 9A5A4B,24A2CA27A2B827F4BDE<B27FEABAE2AB2929EA5A4B2EDAEBDA24A2 FA2E29A2 6NB27A2%F44A5A4B,2A2F2AB2EBF9F8EA5A4B2"FF 9A27429265EF6427A2%9BBF6427A2B82 7D FBAE2E29A25ECD27A2ED7FB2825D4A2AB282A4BEAEFA,2E2E6EB225ECD2F4BAE 4FEA2 6FE2)44A8A2+:$22

2655A26E29A269FBFA2 7DBFEA274292%64BF64276%%EA27A2BFBEA27A27ABBA2 9FA,2AB2A%%AB2AB2 6D,2E2F59F%FBF64,2E66EBF644A92827A547A2A8D7A4BFEA27A29FF7FBD2E2C427A2B=A2 7BF%,2927ABBA2 9FA24A264BFB4B2296 >AB2EF4F927256789A$226E24A2DF%FBF64292 D4DE9A242ABBA2C=6BC8A,2"6FE2BF7642M29$21&$2

(18)

kvy` jvy22d 1 ^ 2&kw ` j~

^ ƒ1 ^ & ` ‚&Ujen` ken& ^ je}` ke}& ^ kvn` jvn& ^ kv}

` jv}&V2 5&2

2

26E2424F"A27644D27A27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A25ECD27BF%2EF"D,2 9A25ECD27A2927ABBA2 9FA2EDA4BA276424A27A547A2A8D7A4BFEA27A2%F44A5A4B2 7DA474B26FBF"A5A4B27A2{2BF"F5A27A29269FBFA2 7DBFEA&2AB22A4F F9FBD27A2A4B2 27D%FFB2 9F&2AB24DBF"A5A4B27A2€2A%%AB27A2%FBA2"AE2929FBD2A427D%"AE27A25ECD2 7BF%2EF"D&$22 2 P$5$2989A27A269FBFA2564DBFEA27A292 4A2A4BE9A2 '2E89A27A269FBFA2564DBFEA27A292 4A2A4BE9A2656EBA2BE6F2B=A27F4BE5A4B224A2 E89A27A2B=A2/=96E25A4BDA26E292%F8BF64272B827F4BDE<B27FEABAE2AB26EBFA2742B82 94CAE,24A2%64BF6427F4>ABF6427A29FF7FBD,2AB24A2%64BF6427CB27A2BFBEA$22 'A2B827FEABAE2%F8D2E292 4A2A4BE9A2FB24A2E89A27A2B=A2/=96E2/=96E,2144&2 5A4BDA2742F47FBAE27A2BA4F642%F44F8EA,2EA44B292%6E5A2F"4BA222 2 „

cfe…d out ^ † ^2‡ˆ† ` † ‰& ^2‡Š‹ ` ‹ ‰& `2‡engenŒgen‰&, ‡ˆq , ‡q , ‡en Ž 22 cfe d2cfe…222222222222222F2cfe…Ž cfe cfe d2cfe22222222222222222F2cfe…m cfe  2 +&2 2

:6BEA26 >AB2DB4B2FF27F69AE29A25D4F5A27A2EFA27A27DFF6427A292 4A2A4BE9A2AB246427A2 >AE27A292AEBF4A4A27A2269FBFA2564DBFEA,292"EF 9A2A47684A27A246BEA2E89A2AB29A2B82 7FEABAE2F4BE5A4B&2AB246429A2B82F4BAE 4FEA2A26EB2BAE5A2F 9A&$2ABBA2%6E59BF642 AE5AB2A426BEA27F69AE29A2EFA2725ECD2F4BAE 4FEA,2A47684A27429A256789A,27429A2 BE6FF85A2BAE5A27A292E89A$2'A2B827F4BDE<B2%F8D2E292 4A2A4BE9A27DA472764274A2 64B4BA2EAEDA4B4B29A2B827F4BDE<B24ABEA2EDA9,2724F"A27F4%9BF642†,27A29DEB27F4%9BF642 † ` † ‰&,27A29DEB27A2E67BF642‹ ` ‹ ‰&,2AB27A29DEB127A2EF5A27A2EFA2F4BAE 4FEA2gen,2

D4DE9A5A4B264F7DED2655A242F47FBAE29A%27A2BA4F642E2A25ECD2)FB2-C9F2M2 9$,242;2/=96E2M2FF99F5,242;2F,23&$2:6B642A29A2E58BEA26FD2A2112AB2<BEA2 49224729A256789A27F4BAE5D7FBF642AB2EBDEFD2E2426F72F56EB4B27A2ED7FB282 5D4A2A2B82"EF 9A,292EFA2A4264F7DEBF6427A29DEB27A2E67BF642EA"FA4B27A2%FB2A2 ED7FEA29A2BA4F642%F44F8EA$22E2F99AE,29A2B827F4BDE<B27FEABAE24A2AB22<BEA2F4%DEFAE2 A24A2"9AE294CAE2cfe2E6EA2A292 4A2A4BE9A$2

2

'A27A82BEA2"69AB27A29269FBFA2564DBFEA27A292 4A2A4BE9A264AE4A4B2927A547A2 A8D7A4BFEA27A2%F44A5A4B2E29A27F%%DEA4B2A5A4B27A25ECD$2)29A8ABF642725ECD272 ED7FB282A4B24642%F44FAE26R292 4A2A4BE9A24A2AB227FEABA5A4B2F4BAE"A4FE,2A99A22 926F F9FBD27F4%9AE27FEABA5A4B2E2ABBA27A547A2A8D7A4BFEA2E29F4>ABF6427A29FF7FBD2 5ECD2F4BAE 4FEA&2AB29A2CB27A2BFBEA25ECD27A2BFBEA&$2'A2ED%DEA4A27A292 4A2 A4BE9A264B29A2F"4BA22

2

1111111111111111111111111111111111111111 1111111111111111111

12'DEB27A2EF5A27A2EFA2AE5AB27F4BE67FEA29246BF6427A2EF5A27A2EFA26BF59A22A427A292 4A2A4BE9A,2E2E6EB2A22644F4A2724F"A27A2EFA26E4B2725ECD2F4BAE 4FEA$22

(19)

132 „[hn2m2[h zzzzzn, 22222[hzzzzzn2d  _hy2m2_hzzzzzy, 22222_hzzzzzym  _hi2m2_hzzzzzi, 222222_hzzzzzi2q ,  d 1,  2 2 2 A2F2F4F%FA2A26E2CA2A5A4B27A25ECD2E29AA92A99A22926F F9FBD27F4%9AE,292 4A2A4BE9A26CFBA2A2927A547A2A8D7A4BFEA27A2%F44A5A4B2EABA2A427ASA2742AF92 DF%FA$2ABBA2"9AE2AF927A292 4A2A4BE9A2AB,2EAABF"A5A4B,2499A27429A2272 5ECD2F4BAE 4FEA,2F24A276FB22<BEA2EBF644D2;24DBF"A27429A22725ECD27A2927ABBA2  9FA2F276FB2<BEA2A42FBBF6427A27A547A2A8D7A4BFEA2;2AB26FBF"A26E29A2BEA2 5ECD27A2BFBEA$2'A2564B4B2Z274A2D"A4BA99A2F4>ABF6427A29FF7FBD26EEA647276422 564B4B27A2927A547A2A8D7A4BFEA2EF"DA27A2ED7FB2F4BAE 4FEA$2*A25<5A29A2564B4B2 D"A4BA92‘F27CB27A2BFBEA26EEA6472A2927F%%DEA4A2A4BEA27A547A2A8D7A4BFEA2EF"DA27A2 %F44A5A4B2AB2AF927A292 4A2A4BE9A$22 2

AF2DB4B26D,2F92AB26F 9A27A2%6E59AE292E89A26598BA27A269FBFA2564DBFEA27A292 4A2 A4BE9A2655A2FB222

2

cfe d2„

cfe…22222222222222222222F2cfe…q cfe cfe2222222222222222222222F2cfe…’ cfe “2cfe2”2• 2 – “2cfe2”&2“2cfe2”—n&2Ž 

2 2

˜ d2™[hn`2[hzzzzzn222222222222222222F2[hn2”Œnq [hzzzzzn222222222 22222222222222222222222222222222222222F46422222222222222222222222222222222 2

ši d2™_hi`2_hzzzzzi22222222222222222F2cfe… d cfe, _hi2”Œnq _hzzzzzi, _hi2”Œ}q _hzzzzzi2222222222 d ,&222

222222222222222222222222222222222222F46422222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222222 6&2 2 A2F2AB2<BEA2A8EF5D2F59A5A4B2655A2FB229A2B827FEABAE26EEA64722B827A2B=A2 /=96E26E2B4B2A227DBAE5F4BF642647FA2A24A2"9AE2DEFAEA2294CAE27A292 4A2A4BE9A,2AB2A2A294CAE2F4642;29A26DEBF6427F4>ABF6427A29FF7FBD2AB27CB27A2 BFBEA264B2C FBA99A5A4B27A2564B4B2492472F924A8FBA227A27A547A2A8D7A4BFEA27A2 %F44A5A4B2A8AF"A22A427A292 4A2A4BE9A2›27429A2264BEFEA,2A99A#F2F4BAE"FA4B2 6E2E5A4AE2A24F"A2A22"9AE2AF9$2ABBA26DEBF64229FA2=BD5BFA5A4B278292DEF67A2 F"4BA27429A22725ECD2F4BAE 4FEA$2(99A229FA2A42EA"4CA2A29FA27A292A647A2 DEF67A264DBF"A27A27A547A2A8D7A4BFEA27A2%F44A5A4B27429A227A25ECD27A2BFBEA,2 4FA5A4B27429A226R29A2B827F4BDE<B27FEABAE2AB2%F8D2294CAE$2(4%F4,292 4A2 A4BE9A24A2AB22EA47EA,2A27A82DEF67A2F55D7FBA5A4B264DBF"A,27A827DFF6427A2 B827F4BDE<B27FEABAE27A2A42F4"AEA$22 2 P$+$2-DA4A27256789A2 '2DA4A27256789A2A27DE69A2A42BE6F2DEF67A$2)"4B29A2C6,,2B629A25ECD264B2A2 9DF9F EA,2AB#A#7FEA2EBDEFD2E24A27A547A2A8D7A4BFEA2499A27A2%F44A5A4B$2(42B2 42C626FBF%27A269FBFA2564DBFEA2B827F4BDE<B27FEABAE&2E"FA4B$2@92A42ED9BA242 EA4CDEFA5A4B2726NB27A2ED7FB2A2B82"EF 9A264BEBD2E29A25D4A2AB242DEB27A2 E67BF6424DBF%,276424A2CA272B827A27D%F994A2E2A2ED7FB2A2B82"EF 9A2œ4 &$22 2

(20)

2

-CD5212-DA4A27256789A2

1

'5A4BBF6427A292E6  F9FBD27A27D%F994A2E29A2ED7FB2A2B82"EF 9A2A42B2A4BET4A242

C627A2EA72AB27A27A547A2A8D7A4BFEA27A2%F44A5A4B2E29A25ECD27A2BFBEA2659A8A2 AB,2E264DA4B,2E29A25ECD2F4BAE 4FEA$2(42B1,292 4A2A4BE9A2F4BAE"FA4B2F24DAFEA2

6E265 9AE29A27D%FFB276%%EA27A2%F44A5A4B2EF"D2E2A27AE4FAE25ECD2A42F4>AB4B29A2 564B4B26EEA6474B27A29FF7FBD$265BA2BA4272EK9A2A4BE92725ECD2F4BAE 4FEA2742 92BE45FF64272C621EAF82AB2B6EA,23&,2ABBA25AEA2AB292EA5F8EA25AEA27A2ABF642 7A2EFA2EFA2E292 4A2A4BE9A$22 2 (42B,29A25ECD27A2BFBEA2 FA4B24A2A647A27DE7BF6427A29AE2647FBF6427A2 %F44A5A4B,2A42EF6427A292AEFB4A274A27A547A2A8D7A4BFEA27A2%F44A5A4B2E2 E6EB2A296%%EA2EF"DA2E29A25ECD2F4BAE 4FEA$2'2 4A2A4BE9A26EFB296E29A2 F4>ABF6427A29FF7FBD26E299FAE29F4%%F4A27A2ABBA26%%EA27A2%F44A5A4B2EF"D2AB2BF9FA2 9A27A82BEA26BF927A22E89A27A269FBFA2564DBFEA,26FB24A2 FA27A2B827FEABAE22 4F"A294CAE2AB27A2CB27BF%2F24DAFEA2E29A25ECD27A2BFBEA$2 2

5$2C627A27D%F994A2E29A26EBA%AF99A27A2ED7FB2825D4A2AB2

ABF6427A2EFA2E292 4A2A4BE9A2

ABBA2ABF64264BFA4B29A89FFBBF6427A292EA9BF642A4BEA2EBA272EFA27A2B82AB2B827A2 7D%F994A2E29A26EBA%AF99A27A2ED7FB25$1$&2AB2927AEFBF64272C62F4FBF92E29A25ECD2 7A2ED7FB,2A42B25$$&$2'A2C62AB2BE45F225ECD2F4BAE 4FEA26R292 4A2A4BE9A2

F4BAE"FA4B2A42B125$$&2AB2B25$P$&$2'F4BAE"A4BF642D"A4BA99A2E29A25ECD27A2BFBEA229FA2A42B2

5$5$&$22 2 5$1$22EBA272EFA27A2B82AB27D%F994A2E29A26EBA%AF99A27A2ED7FB2 655A25A4BF644D292CB,2927D%F4FBF6427A2647FBF6427A2%F44A5A4B27429A256789A2EA472 A4265BA29A25D4F5A27A2BE45FF6427A29269FBFA2564DBFEA2E29A248272ED7FB2 A4227A2C626FBF%,256F47EA27F64F F9FBD272ED7FB2E2EA4%6EA5A4B27A2=5DBEFA2 7?F4%6E5BF642A4BEA2E<BAE2AB2A5E4BAE&2AB27A292EFA27A2EFA256F47EA27F64F F9FBD272 ED7FB2E2E6FA5A4B27A29?"AEF6422EFA27A2E<BAE&$2-E2ABBA2 A,2462F46E6E642 42D9D5A4B26EFF492292EFA2A4265BA27?42B82A47684A27A27D%F994A27A2A4B24642 %F44FAE2FF,29A25D4A&2E29AE2B6C27A27ABBA$2 2 B C627A22E2q2 C627A2647FBF6427A2 %F44A5A4B2D4DE9FD (EB27A2E67BF642m2 )5A4BBF6427A2œ4 B1 C62AEFB4B27A2 647FBF6427A2%F44A5A4B2 E29A25ECD2F4BAE 4FEA 2F4>ABF6427A29FF7FBD B -A6472C627A2647FBF642 7A2%F44A5A4B2E29A2 5ECD27A2ED7FB22222222222222222 AB27A2BFBEA22 2B8294CAE,2F4>ABF642 7A29FF7FBD,2CB27A2BFBEA

(21)

2 ABBA2E6  F9FBD2AB2%64BF6427A27A82EBDEFBFA27256789A27F4BAE5D7FBF642292 E66EBF64272EFA27A2B825DA2E29A25D4A2EB27A2ED7FB2825D4A2A2B82 "EF 9A27429A2B6B927A29AE2%F44A5A4B&2;2AB2927DF4BAE5D7FBF64272%F44A5A4B27A2 A4BEAEFA2EB27A292%F44A27FEABA27429A2B6B927A2%F44A5A4B27A2A4BEAEFA&,29A99A2 7DBAE5F4A29DEB27A2E67BF642AB27642F4%9A2D9A5A4B2E292FBD27A2EA5 6EA5A4B27A2 5D4A$22 2 *429A27DBF9222 'A27D%F994A2E29A2B6C27A27ABBA27A25D4A264B29FDA22EFA27A2B8$2:62%F642 9?C=6BC8A2A29A2EFA27A2B826FD282ED7FB2 4FEA2AB2A4BF8EA5A4B26EBD2E29A2 4A2A47ABBA5A4B27A25D4A2A2B82%F8A&296E2A29A2EFA27A2B826FD282ED7FB2 7A2@:2AB2A4BF8EA5A4B26EBD2E29A25D4A2A47ABBA5A4B2A2B82"EF 9A&$2'A2EA6EB2 F4BDE9272EFA27A2B82E29?A5E4BAE2647FB2A29FAE26FBF"A5A4B2"EFBF6427A2B82AB2 E6  F9FBD27A27D%F994A2E29A2ED7FB$2*429A256789A,2A2EFA264BFBA29A2EA5FAE2 7DBAE5F44B27A292%64BF6427A27D%F994A27A25D4A2E29AE2ED7FB2A2B82"EF 9A$222 'A27D%F994A2E29A2B6C27A27ABBA27A25D4A264B2D9A5A4B29FDA2A29DEB27A2 E67BF64$2-F4B272%F44A5A4B27A2A4BEAEFA,2462%F6429?C=6BC8A2A29A276 9A2 A%%AB2A8AED2E29A2EA4%6EA5A4B27A2=5DBEFA27?F4%6E5BF642AB29"AEF6422EFA27A2 E<BAE2ED7FB2927F64F F9FBD27A2%F44A5A4B2F2 FA426E29A2ED7FB2A26E29A2

%F44A5A4B27FEAB,2AB2A%%AB2DB4B256F47EA27429A2272ED7FB2A42EF6427A292EDA8FBA4A27A2 EA9BF642A4BEA2 4A2AB2A4BEAEFA2E2A8A59A21EAF82M2B6EA,242;26F"F42M29$,211&$2 A25D4F5A2AB2EF2A4265BA27429A256789A2E24A2%64BF6427?6%%EA27A2%F44A5A4B292 %6EBA5A4B2A4BA27429A227A25ECD27A2BFBEA2A2742A9F27A2ED7FB2 4FEA$2'2 56F47EA27F64F F9FBD27A2%F44A5A4B2ED9B4B27?42C626FBF%27A269FBFA2564DBFEA2 64BFBA296E292655A2647DEDA2A42%64BF6427A29?F4BAE5D7FBF64272%F44A5A4B27A2 A4BEAEFA&27A27A547A2A8D7A4BFEA27A2%F44A5A4B2EAABF"A2E29A25ECD272ED7FB2 AB27A2BFBEA$2992A42ED9BA,2E66EBF644A99A5A4B,27A2A%%AB25E6D6465FA2 2E6FA5A4B2 72CK5A,2E9A4BFA5A4B27A292E6EAF642726"6FE27?CB27A25D4A$$$&2F264BFBA4B2 7429A256789A29A2A64727DBAE5F44B27A292%64BF6427A27D%F994A27A25D4A2E29AE2ED7FB2 A2B82"EF 9A$22 2 5$$2C62F4FBF92E29A25ECD27A2ED7FB2B&2

-6FA4B2œ 2AB2œ4 29A2B827A27D%F994A2E29A2ED4A27DBA4A,2EAABF"A5A4B,2E29A2 4A2AB2E29A2@:$2*429A256789A,2œ 2AB2A8684A$2(42EA"4CA2œ4 2AB2A47684A2AB27DA472 6FBF"A5A4B27A292"EFBF64272B827F4BDE<B27A2ED%DEA4A2AB27A29DEB27A2E67BF64,2A96424A2 EA9BF6429F4DFEA26FBF"A2A4%6E72M2:FAE,26&222 2 2ž] d BA2 2Ÿ2ž\] d2 22Ÿ2cef^ 2¡2Ÿ2‹,  , ¡2 q 2 2 2 )2ABBA2DF%FBF6426EEA64724A2E6  F9FBD27A27D%F994A27A26EBA%AF99A27DBA42A2 9A8BDEFAE272=B85A2 4FEA2œ4 2A8D74B2=BD5BFA5A4B292E6  F9FBD27A27D%F994A2œ 2 1111111111111111111111111111111111111111 1111111111111111111

12'?F5B25E6D6465FA27A2C627A269FBFA2564DBFEA2DB4B29FEA5A4B2DB 9F,25F2292EA9BF642 A4BEA26NB27A2%F44A5A4B2A8BAE4A2AB2F4"ABFA5A4B2EF"D,2462%F6429?F5A2E2ABBA2DBA2%$2E2 A8A59A21EAF82M2B6EA24:/1

(22)

7A2A827DBA42E29A2 4A1,264%6E5D5A4B282ED9BB27A2AE47B2M29$24&2AB27A2

2E4475211&$22 2

)296EFF4A272C626426 AE"A24A25A4BBF64272B827F4BDE<B27FEABAE27A292 4A2 A4BE9A2∆E2q2&$2(4264B2A29DEB27A2E67BF642AB2E66EBF644A92A292655A2 647DEDA27A2"EFBF6427A27A547A2A8D7A4BFEA27A2%F44A5A4B27A2A4BEAEFA2E29A2 5ECD27A2BFBEA2AB27A2ED7FB,26426 BFA4B292%6E5A2F"4BA$2D4246BA2A29A2C627A2B82

7FEABAE2F4BAE"FA4B2A292%6F27FEABA5A4B2"F29A2EFA27A2B827A25D4A2E29AE2ED7FB2A2 B82"EF 9A2AB2F47FEABA5A4B2"F29A2EAA5A4B27A29DEB27A2E67BF6422 2 Ÿ2ž\]d2 22Ÿ2cef^ 2¡2 ¢1 ` a]&2[]& ^ 2_12_1 l_hlc n ef ^ 1 ` a]&2[]&

1 ` a]&2[]& ^ 2_12l[h}lcef£2 3&2 2

'A2@:,27DBA4BAE27A2ED7FB2825D4A2A2B82"EF 9A,2%F44A4B29AE2BF"FBD2E292"A4BA2 7A2BFBEA2659A8A$2(4264BEAEBFA,292ED54DEBF6427A2A2BFBEA27DA4727A2F4BDE<B2"AED2 E29A26EBA%AF99A27A2ED7FB2A2B82"EF 9A$2'D9D"BF6427A292E6  F9FBD27A27D%F994A2œ4 2 A4BET4A276424A25A4BBF6427A292EF5A27A2EFA2b(2725ECD27A2BFBEA2659A8A,2 6DA2DF"9A4BA2E2F59F%FBF64222 2 Ÿ2gv}d 2Ÿ2ž\]2 4&2 2 64%6E5D5A4B282DF%FBF6427A2%64BF64276%%EA2AB27A27A547A27A2BFBEA2EF"D2DBF642 P&&,2F92A42ED9BA24A26%%EA2A8D7A4BFEA27A2BFBEA2E29A25ECD27A2BFBEA2659A8A$22

5$$2/E45FF64272C62F4FBF9225ECD2F4BAE 4FEA2AB2F4>ABF6427A29FF7FBD2B1&2

'A2C627A2647FBF6427A2%F44A5A4B2E29A25ECD27A2BFBEA2659A8A2AB2BE5F225ECD2 F4BAE 4FEA,26FB24A25A4BBF642F59B4DA272EA72AB27A2927A547A2A8D7A4BFEA27A2 %F44A5A4B2F4BAE 4FEA222 2 ™Ÿ2gŸ2[hnen22q 2q 22 2 2 '2"EFBF64272EA72AB2%64BF6427A292"EFBF64272EA72E29A25ECD27A2BFBEA2659A8A,2A2 96EFF4A272C62DBF6423&2AB24&&,27A292BF99A2>27A2A25ECD2E2E6EB2A29A4A5 9A27A2 ED7FB2A29D6465FA,2AB274A2"EF 9A29DB6FEA2¤222 2 22“2gend “2gv}2¥212 ^ ¦&2 2 2 -6FB22 2

22“2gend “2gv}2§2[][\]2^2[\]¨ 12 ^ ¦&2 1&2

1111111111111111111111111111111111111111 1111111111111111111 12*8296E2A292"9AE2F4FBF9A27A292EA5F8EA2AB2DEFAEA2A2A99A27A292A647A,2A2F2A42EBFA2AB2 B6>6E29A2$2 2/629A25ECD2DB4B26D2A29DF9F EA2"4B29A2C6,2B6BA2CA2726NB27A2%F44A5A4B,2A99A2 6FB2DA2E24A2CA27A292EF5A27A2EFA26272B827FEABAE,2D48EA24A27A547A2A8D7A4BFEA2 7A2%F44A5A4B26FBF"A$2

(23)

2 2 2 22d © 22Ÿ2cef^ 2¡2 ¢1 ` a _1 ]&2[]& ^ 2_12 l_hn lcef ^1 ` a]&2[]& ^ 2_121 ` a]&2[]& l[hlc } ef£ª2§2 [\] []^2[\]¨ 12 ^ ¦&2 2 2 '2"EFBF642B6B9A272B827F4BDE<B2F4BAE 4FEA2AB2764292F"4BA222 2 22“2cend “2cfe^2“2gen2 2 2 2

22d “2cfe^2“2gv}2§2[][2^2[\]\] ¨ 12 ^ ¦&2 11&2

2

'A25ECD272ED7FB2F4BAE 4FEA,2EDD7A55A4B22C6,2DB4B2A29DF9F EA,2927A547A2 A8D7A4BFEA27A2ED7FB2E2E6EB2A296%%EA2EF"DA&2E29A25ECD2F4BAE 4FEA2AB276427DEFBA2 E29DBF642F"4BA222

2

[hn2”nd2o ` r&2«“2cfe^2“2gv}2§2[][\]2^2[\]¨ 12 ^ ¦&¬2222 23456 2 '2 4A2A4BE9A2ED6472A2ABBA27A547A2A8D7A4BFEA2A42F4>AB4B2924BFBD2 6EEA6474BA27A29FF7FBD,264%6E5D5A4B2A22E89A27A269FBFA2564DBFEA2DBF6426&&,26FB2 ZB12d2E12B1$2D4246BA2A,292E89A27A269FBFA2564DBFEA2DF%F4B2A27A827DFF6427A2B82 7FEABAE27A2A4264BE7FB6FEA24A2A"A4B2<BEA2EFA2A27A82DEF67A264DBF"A,29F4>ABF642 7A29FF7FBD2AB29A2A92F4BE5A4B2764B27F6A26E29A2565A4B292 4A2A4BE9A$2'27A547A2 A8D7A4BFEA27A2%F44A5A4B2E29A25ECD27A2BFBEA24A2%FB2246429296 >AB274A2 F4BAE"A4BF642FA292 4A2A4BE9A24F4BAE"FA4B2A2927A8F85A2DEF67A27A2EBF644A5A4B2 64DBF"A$2 2 5$P$2/827F4BDE<B294CAE2AB2F4>ABF6427A29FF7FBD2B&2 (42B,29A2B827A27D%F994A27A25D4A2E29AE27ABBA2A2B82"EF 9A2DBF6423&&2AB2 F4C4D1$2@92A42AB276427A25<5A272EA72F4BAE 4FEA2DBF6424&&$2*26F4B27A2"A27A292

69FBFA2564DBFEA,24A2 FA272B827FEABAE2AB26F 9A,26E2ED647EA2A29DEB27A2

E67BF6424DBF%2AB282BA4F642%F44F8EA25BDEF9FDA2E29DEB27A2EA72F4BAE 4FEA&2 AEFB4B,2ABBA27DFF6424DB4B22F55D7FBA5A4B264DBF"A2A292CA2F4FBF9A$2:62 BEFB642742A2F2FB29A226R29A2B827FEABAE2AB2 FD2A42B224F"A294CAE22E|­,2742

9AA9292 4A2A4BE9A2AB2ABF 9A27A2EBFAE27A2CB27A2BFBEA26E2ED647EA2A24A2 7A547A2A8D7A4BFEA27A2%F44A5A4B2E29A25ECD26EEA6474B$22

2

(42EBFA,2E29A25ECD272ED7FB2F4BAE 4FEA,292EF5A27A2EFA2∆2b212AB2F4C4DA2AB29A2 B827FEABAE27A292 4A2A4BE9A2AB26FBF644D2A26424F"A294CAE$2*E8211&,292 7F%%DEA4A2A4BEA29A2B827F4BDE<B2F4BAE 4FEA2AB22"9AE2F4FBF9A2EDD74B29A2C6&2 7DF9F EA,246BDA2EÆ,2DEFB27D6E5F222

2

1111111111111111111111111111111111111111 1111111111111111111

12AF2AB2>BF%FD,246B55A4B,2E29C=BDE8A27A29DEB27A2E67BF642E2E6EB2825AEA27A2 69FBFA2564DBFEA2A2EB8EA2EABEFBF%27667CEB,2+&$2

(24)

22“2cen2”n^ “2cen2”}d cfe` c ‰& ^2“2gen2”n2 2

2 2

22d cfe ` c ‰& ^2“2gv}2§2[][2^2[\]\] ¨ 12 ^ ¦&2 1&2 2

'27A547A2A8D7A4BFEA27A2ED7FB2E2E6EB2A296%%EA2EF"DA2E29A25ECD2F4BAE 4FEA2AB2 76427DEFBA2A42B2E222

2

[hn2”}d2o ` r&2«cfe` c ‰& ^2“2gv}2§2[][\]2^2[\]¨ 12 ^ ¦&¬2222 1P&2 2

'A2EBF644A5A4B272ED7FB2E29A25ECD2F4BAE 4FEA27DA47276424DBF"A5A4B27A292 A4F F9FBD2r27A2927A547A27A2ED7FB22B827F4BDE<B,2AB26FBF"A5A4B27A292A4F F9FBD227A292 %64BF64276%%EA$2A27D%FFB27A29FF7FBD2AB,27A25<5A2A42B1,2A4BF8EA5A4B26"AEB2E292 4A2

A4BE9A2F2A2 BFBA2F4F2EBFA99A5A4B225ECD2F4BAE 4FEA,26FB2ZB2d2E12B$22 2

-E29A2BEA25ECD27BF%2EF"D,2927A547A2A8D7A4BFEA27A2%F44A5A4B27A25ECD27A2 ED7FB2AB27A2BFBEA2EDFB26FBF"A5A4B2A292AEFB4A2727D%FFB276%%EA27A2ED7FB2EF"D2E29A2 5ECD2F4BAE 4FEA222

2

™¯2E}d2°e}2[hn&

¯2(E±2d2°vi2[hn&  d 1,2 2 2 'A26A%%FFA4B2°2EAEDA4BA4B29A26A%%FFA4B27A26EED9BF642A4BEA29A27A547A2A8D7A4BFEA2 7A2%F44A5A4B29D5A4BFEA27A2C427A2A5A4B27A25ECD2AB2927A547A2 A8D7A4BFEA27A2%F44A5A4B2725ECD2F4BAE 4FEA$264F7DE4B2A29A2EA47A5A4B27A2 BF%2BF9FD26E29A2%F44A5A4B27A2):1264B2D4DE9A5A4B2 A6256F42EDBF%282 C624DBF%27A2B827F4BDE<B27FEABAE2A2A827A25ECD2F4BAE 4FEA,2F9264B2 64F7DED2655A2F4C4D2E2E6EB2A2B2AB2B12E2F59F%FBF64$2'27A547A2A8D7A4BFEA2

7A2%F44A5A4B26EEA64727642A2A99A27A2DEF67A2B2AB2B1,2A29A99A2>6BA2926564BA2

9D5A4BFEA27DEFBA2F#7A,26FB222 2 ² ³ ´ ³ µE}d2l[h}lc ef 2^2°e}2[hn

(E±2d2l_hilcef2^ 2°vi2[hn  d 1,



2

15&2

2

5$5$27ABF6427A2EFA2AB2CB27A2BFBEA2B&2

(42B,26BEA29A2F4>ABF6427A29FF7FBD2AB292 FA272B827F4BAE<B27FEABAE,292 4A2A4BE9A,2

78296E2A2A9F#F2AB2%F8D2A22"9AE294CAE2EFCCF4,2144+&2AB2A42EDA4A274A27A547A2 A8D7A4BFEA27A2%F44A5A4B26FBF"A2AEFB4BA2E29A25ECD27A2BFBEA,2EBFA29A2CB2 7A2BFBEA24DAFEA26E2E5A4AE29DEB2A4BEA26%%EA2AB27A547A27A2%F44A5A4B2A22"9AE2 6CFBDA$2)2EBFE27A25&2AB215&,292 4A2A4BE9A27DBAE5F4A29A2564B4B27A2CB27A2BFBEA2  9F2AE5ABB4B27A2BF%FEA22AF927A27A547A2A8D7A4BFEA27D%F4F2E22E89A27A2 69FBFA2564DBFEA26&$2*429A22EBF9FAE27A2927ABBA2 9FA,2927A547A2A8D7A4BFEA27A2 %F44A5A4B2EA47292%6E5A2F"4BA222 2

(25)

P2 kvy` jvy22d 1 ^ 2&kw ` j~

^ ƒ1 ^ & ` ‚&Ujen` ken& ^ je}` ke}& ^ kvn` jvn& ^ kv}` jv}&V2 2 d21 ^ 2&kw ` j~ 2 ^2ƒ1 ^ & ` ‚&2¶[hn^ §l[hlc } ef 2^2°e}2[hn¨ ^ ·¸ l_hi lcef2^ 2°vi2[hn } i¹n º»2 1+&2 2

-F2ABBA27F%%DEA4A24A2BF%FB222AF922(Eyzzzzzz27D%F4F2E292 4A2A4BE9A,2A99A#F2F4BAE"FA4B2 6E2CABAE2924BFBD27A2BFBEA2 9F26EEA6474B2A29DEB264BBD,26FB222 2 šy d kvy` jvy22&2`2_hy2 2 2 *A25<5A,2E29A25ECD27A2BFBEA2EF"D22F92A8FBA24A27A547A2A8D7A4BFEA27A2 %F44A5A4B2E2E6EB2A296%%EA2EF"DA27D4B292"9AE2AF92%F8DA2E292 4A2A4BE9A,2 A99A#F2C8BA29A2564B4B27A2BFBEA24DAFEA26E2E5A4AE29A25ECD264AE4D2A2ABBA2"9AE2 AF9$2)2EBFE27A21P&2AB215&,26426 BFA4B222 2

ši d kvi` jvi22& `2_h¼zzzzz,  d 1,2 2

2 2

d2§l_hilc

ef2^ 2°vi2[hn2¨ `2_h¼zzzzz2

d222l_hilcef2^ 2°vi2o ` r&2«cfe` c ‰& ^2“2gv}2§2[][\]2^2[\]¨ 12 ^ ¦&¬ `2_h¼zzzzz2222 16&2 2

-6FB,2%F49A5A4B,29A27DFF642F"4BA27A292 4A2A4BE9A2A42B,264%6E5D5A4B2A22E89A27A2

69FBFA2564DBFEA26&222 2 cfe2”}d 2cfe2 2 ˜”}d2[hn2”}`2[hzzzzzn2 2

šy2”}d21 ^ 2&kw ` j~ 2^2ƒ1 ^ & ` ‚&2

¶[hn^ §l[h}lcef 2^2°e}2[hn¨ ^ ·¸l_hilcef2^ 2°vi2[hn }

i¹n

º»2`2_hy2

ši2”}d §l_hilcef2^ 2°vi2[hn2¨ `2_h¼zzzzz,  d 1,2 13&2

2

'A2"9AE27A2E12B2AB2“2gv}264B27644DA,2EAABF"A5A4B,2E29A2DBF6421&,2AB23&2AB24&$2

2

En2½} d2o ` r&2«cfe` c ‰& ^2“2gv}2§2[][\]2^2[\]¨ 12 ^ ¦&¬2 2

2 2 “2gv}d  22Ÿ2cef^ 2¡2 ¢1 ` a]&2[]& ^ 2_12_1 l_hlc n ef ^ 1 ` a]&2[]& 1 ` a]&2[]& ^ 2_12l[h}lcef£2 2 2

Références

Documents relatifs

To test whether the vesicular pool of Atat1 promotes the acetyl- ation of -tubulin in MTs, we isolated subcellular fractions from newborn mouse cortices and then assessed

Néanmoins, la dualité des acides (Lewis et Bronsted) est un système dispendieux, dont le recyclage est une opération complexe et par conséquent difficilement applicable à

Cette mutation familiale du gène MME est une substitution d’une base guanine par une base adenine sur le chromosome 3q25.2, ce qui induit un remplacement d’un acide aminé cystéine

En ouvrant cette page avec Netscape composer, vous verrez que le cadre prévu pour accueillir le panoramique a une taille déterminée, choisie par les concepteurs des hyperpaysages

Chaque séance durera deux heures, mais dans la seconde, seule la première heure sera consacrée à l'expérimentation décrite ici ; durant la seconde, les élèves travailleront sur

A time-varying respiratory elastance model is developed with a negative elastic component (E demand ), to describe the driving pressure generated during a patient initiated

The aim of this study was to assess, in three experimental fields representative of the various topoclimatological zones of Luxembourg, the impact of timing of fungicide

Attention to a relation ontology [...] refocuses security discourses to better reflect and appreciate three forms of interconnection that are not sufficiently attended to