HAL Id: inria-00074552
https://hal.inria.fr/inria-00074552
Submitted on 24 May 2006
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.
Sequencing date flow tasks in SIGNAL
Eric Rutten, Paul Le Guernic
To cite this version:
Eric Rutten, Paul Le Guernic. Sequencing date flow tasks in SIGNAL. [Research Report] RR-2120, INRIA. 1993. �inria-00074552�
ISSN 0249-6399
INSTITUT NATIONAL DE RECHERCHE EN INFORMATIQUE ET EN AUTOMATIQUE
a p p o r t
d e r e c h e r c h e
1 9 9 3
PROGRAMME 2
Calcul symbolique, programmation et génie logiciel
Sequencing data flow tasks in SIGNAL
Eric Rutten, Paul Le Guernic
N˚ 2120
Novembre 1993
'()+*,-/..10325476/8:9;-/<>=0@?-A03(2B)C*!4D4
EFHGJI1FLKMNMNOQPSR TAKUWVYXZU\[C]3M5^_GJUa`WbcXZOcdJeZFfGJI1FLKMgMKhf`iGJjgOkhlImOkj7`iOnUiG1IJ`WVD`iOkU
EFHGJoCOphrq/EsutBvlw
wxKeZe_GJFHhQy3OnFHOzV|{ZOpFLVL{ZOxj:}~P3pPJR xGcOkM5^ZFfOnkJ1 SR eKIJOz[
gYz7Jcv!{7OZUWKjZIJXKIJOQ`W[KnFHOKUishH`iMgOcd[]~j_VL{ZFHG1jZ`ikOzyyZKhKsW_G U¡KjZs
I1X_KI1Oc¢A£+h[!MNG~y3OkU_G¤BhH`aMNOx`¡[/^_K1[OyGJj`ij[hLKj3h[Yd_Kj_yN`ihL[lK1VYhH`aGJj_[lKFHO:VYG1j_[`¡y3OkFHOzy
`aj_[hKj~hLKjZOkGJX[Y¢¦¥!KFH`aGJX_[KeZeZUi`¡VkKhf`iG1j§y~GJMK`ij_[:[X_VL{¨KJ[5[`iI1j_KUle7FHG~VYO[f[`ajZI©Kj_y
FfGJ^_GJhf`WVk[nFHObcXZ`aFHOhH{7Oe_Gc[f[`a^Z`iUa`ihC]G¤r[e_OVD`ª¤]~`ijZI^_Ok{_Kk~`iGJF[nVYGJMNe_G[OyG¤«[X_VkVDO[s
[C`iG1j_[xG¤¬y3`®¯OkFHOkj~hlMNG~y3Oz[«G¤!`aj3hfOkFLK1VYhH`aGJj°l`ihH{°hH{ZOp`iFrOkj3~`iFfGJjZMgOkj3hp¢!vGNhf{Z`W[leZXZFfs
e_G[Ocd~!O`aj3hfFHG~y3X_VDOxhf{ZOjZG1hH`iG1jNG¤¬±u²W³´²Wµ~±´D¶D·k¸J¹ºd_y~OY»_jZOy5^3]5K[ChLKFfhlKj_yKjNOkjy
OpcOkj3hpdcKjy¼y~OkjZGJhf`ijZIhf{ZOn[COkFH`aO[/G¤\`ihL[BG~VkVYXZFfFHOkjVYO[Y¢BtQ[H[G~VD`WKhf`ijZISKhH`aMNOl`ij~hHOkFf1KU
hfGKNyZKhLKs½_G¾eZFHG~VYOz[H[[Ce¿OzVY`ª»_Oz[xK±u¸ÀLÁn`¢ÃOc¢id_K5jZGJjZs`ij[hLKj3hKjZOpGJX_[nKJVDhH`i~`ihC]Kj_y
`ahL[BOkÄ3OzVYXZhH`aGJj5`ij~hHOkFf1KU¢\Åx`®¯OkFHOkj~hBlKk]7[/G¤[CObcXZOkj_VY`ajZI[CX_VL{hKJ[Æ7[lKFfOny3O[fVYFH`a^_Oy;¢
ÇÈOe7FHGJe_G[OhH{7O[O:^_KJ[C`WVOpUiOkMNOpj3h[!KhrhH{7OeZFfGJIJFKMNMg`ijZIU¡KjZI1X_KI1OUiOkcOkUud3`ajhH{7O
e_OkF[e_OVYhf`icOG¤rOkÄ3hfOkj_[C`iGJj[>hfGÈZÉ_¢NtxeZe7Ui`WVpKhH`aGJjÈy3G1MK`aj_[x¤OKhfXZFHO5hH{7ONy3`¡[s
VDFHOkhfO[OzbÊXZOpj_VY`ij7IG¤lVDGJj~hH`ij~XZG1X_[Ydy7KhLKs½G¾hLK1[Æ7[YdK1[>`¡[«hf{ZO5VkK1[OcdZ¤GJFnOkÄ7KMNe7UiOcd
G¤BFHG1^_GJhH`¡VhLKJ[CÆZ[D¢
Ë°ÌÊÍÎfÏ:пÑ\J¦ÅKhLKsW_GÒhLK1[Æ7[YdZhLK1[Æ°[OzbÊXZOpj_VY`ij7IZd3FfOKUasÓhf`iMNOdÊhf`iMNOr`ij~hHOpFH1KU¡[Y¢
Ô½ÕSÖ
×ÂØCÙkÚ
Ö
×BÛÜiØ+ÝÓÞLß
àráHâcãZäå!æaçè3é1çkêçkã~ëHìDíHîï1ð|ñòkó¯ôÓõAîïöº÷CøÓøùrúBð|ûôöº÷CøHüpý>õDï1ð|þrþr÷Hÿ¿÷ºï1ðDÿLüºö kö÷ø ýnð
a÷ºófüïööJ÷c÷ZðLølðLñ1ÿkù pöº÷!îïö÷ 1ð|û!"aõYø#+õDþrþx÷Cñkôöºñ$lõYñ%øÓ÷ köºõDûó& Y÷CøóÓöºõDñóBõ' ôÓïöºó
1ð(J÷Cø)
*+-,..0/214345(+056'798;:+
**2</(=>,?/(+-1?5@-345+056-798A:+
Unit´e de recherche INRIA Rennes
IRISA, Campus universitaire de Beaulieu, 35042 RENNES Cedex (France) T´el´ephone : (33) 99 84 71 00 – T´el´ecopie : (33) 99 38 38 32
A #" $ %
Ì3̼;OQUWKj7IcKI1O5ZÉO[Ch/X7jNUWKjZIcKIJOnhHOkMge_[sF7mOkOpUK_G1hL[Ay3Ony3G1jZjlmOkO[
[C]3jV|{ZFfGJjZ`¡[~mO[D¢GJjMNG~yOpUiO:y3XhHOpMNe_[!O[Ch«¤G1j_y!mO5[X7FUiO[l`ij[hLKj3h[Yd_OkhUaO[xK1VYhH`aGJj_[
]¨[CGJj~h`aj_[hKj~hLKj¬mOkO[Y¢AÅx`acOkFL[y3G1MK`ajZO[5yºKeZeZUa`WVkKhH`iG1jdhHOpUW[bcXZOUaO¼hfFLK`ihHOpMNOkj~h
y~ON[C`iIJjKUBGJX©UaO5VYGJj~hHFGJUaONy3O5eZFfG~VYO[H[CX_[e7{3]7[`¡bÊXZOz[Yd_FHObcXZ`OpFHOkj~hUWKNe_Gc[f[`a^Z`iUa`ih7mO5y~O
[CelmOVY`®»_OkF¬y3O[lVYG1MNe_GJFHhfOkMNOkj~hAVYGJMge¿G[~mO[ly~OUOkjV|{_KijZOpMOkj~hBy3O:y3`®QmOkFHOkj~hL[BMNG~y3O[
y`ij~hHOpFLKJVDhH`iG1jnKkcOVUaOkXZF;Opj3~`iFfGJjZjZOpMNOkj~hk¢
t¦VYOkhfhHO»jdkjZGJX[;`ij~hHFHG~y~XZ`W[CGJj_[UWK!jZG1hH`aGJj
yW²Wµ3±C´D¶D·k¸J¹i¹i´ 3´±C´D³"!ZÀDd7y!mOY»_jZ`¯e_KFry~O[/`aj_[hKj~hL[ly3OnyAmOk^ZXZhAOkhly3O»_j d3Okh¬y!mO[`aIJj_Kj3h
U¡K[XZ`ahHOgy3ON[CO[G~VpVYXZFHFfOkj_VYOz[Y¢t[f[G~VY`aOkFnXZjÈ`ij~hHOkFfJKUiUaO5y3OhfOkMNe_[ K X7j©eZFHG~VDO[H[CX_[
GJhy~ONy3G1jZj¬mOkOz[[CelmOVY`®»_O5XZjZO°±$#¸&%('_´dV)ÃO[hfs*KsÂy3`aFHOXZj7ONK1VYhH`a3`ahZmOjZG1jZsÓ`aj_[hKj~hLKjlmOkO
Ophl[G1jN`ij~hHOpFH1KUaUiOQyOkÄAmOVYX7hH`iG1j¢cÅx`acOkFL[CO[MKj7`+OkFfO[y3On[~mObcXZOkj_VYOpF!y~OhHOkUaUiO[\h)KJVL{ZO[
[CGJj~hNyAmOVYFH`ahHO[D¢BxGJX[eZFfGJe_Gc[CGJj_[°VYO[mOkUpmOkMNOkj~hL[:y3O^_KJ[COÈKX¨jZ`icOKX y3X¨UWKjZIcKIJO
y~OeZFfGJI1FLKMgMKhf`iGJj d¿OkjÈe_OkFL[Ce_OVYhH`acOy3O5U+ÃOkÄ~hHOkj_[C`iG1jy3O°Z_¢;O[ny3G1MK`ajZO[
yºKe7eZUi`¡VkKhf`iGJj[VYG1MNeZFfOkjZjZOkj~hUaO°[3mObcXZOkj_VDOkMNOkj~h:y3`W[fVYFHOkh5y~Oh)K1V|{7O[VYGJj~hH`aj3X7O[,K
GJhQy3O:y3GJjZj¬mOkO[Yd_VDGJMNMNOrVO[Ch!UiO:VkK1[YdZe_KFxOpÄ3OkMgeZUiOcd1OkjFHGJ^_G1hH`WbcXZOc¢
-ÒÐZYÎ&.)Ì vKJVL{ZO[x_G1h5y3Ogy3GJjZj¬mOkO[Yd[~mObcXZOkjVYOkMNOkj~hQy3OhKJVL{ZO[DdhHOpMNe_[sF7mOpOkUÂd
`aj3hfOkFH1KUiUiOz[!y3OnhHOpMNe_[Y¢
/:/p
! #"$&%')( *,+-+- #'/.0.0'/+
v!{7OeZFfGJ^ZUaOkM AONK1yZy3FfO[H[n`W[hHGeZFfG~`Wy~OlKk]Z[G¤lFHOpeZFHO[COkj~hH`ij7IN^_Ok{_Kk3`aGJF[[l`ahHs
VL{Z`ajZI^_OkhCAOkOkjy~`ª¯OkFHOpj3hrMNG~y3O[lG¤¬VYG1j3hf`ij~XZGJX[«`aj3hfOkFLK1VYhH`aGJjl`ahH{hf{ZOk`iFlOpj3~`iFfGJjZs
MgOkj3hp¢LÇ `ihH{:FHOkIKFyhHGrhH{7O!Okj~3`aFHG1jZMNOkj~hkdHhf{ZO[CO!^_Ok{_Kk~`iGJF[VDGJj_[C`W[h`ajKr[X_VpVYO[H[C`iG1j
G¤ y3`ª¯OkFfOkj3h¤XZj_VDhH`iG1j_[FfOkUWKhH`ij7IGJXZhfeZXZh[/Kj_y`ij7eZXZhL[DdJOK1V|{:^¿OphAOkOkj5y3`¡[HVYFfOkhHOA[ChLKFfh
Kj_y¼Opj_yNOkcOkj~hL[!y~OkUi`aMN`ihf`ªj7IKhH`aMNOr`ij~hHOkFfJKU¢
txe7eZUi`¡VkKhf`iGJj¨y3G1MK`aj_[5VYGJj_VDOkFHjZOzy§KFfOhf{ZOVYG1j3hfFHG1UxG¤neZ{~]Z[C`WVkKUÂdBVYG1j3hf`ij~XZGJX_[
e7FHG~VYO[f[O[B`ij5IJOkj7OkFLKUÂd~Kj_y5`ijNe_KFHhf`WVYXZU¡KF1JFHG1^¿G1hH`¡Vk[Y¢ cX_VL{NKeZeZUi`¡VkKhf`iG1j_[/MNG1FHOr[Ce¿Ops
VD`ª»¯VkKUiUa]¼¤OKhHXZFfOhf{ZOMg`iÄ~`ijZI5G¤rj~XZMNOkFf`WVkKUVDGJMNeZX7hLKhf`iG1j_[GJj[Okj_[CGJF5yZKhLK~dKj_y
hfFLKj_[`ahH`iG1j_[rKUiG1jZIgKj°KXZhfGJMKhHG1jGJFreZU¡KJVYOkshHFKj_[C`ihf`iGJjI1FLKe7{¢;qÄ7KMNe7UiOQKFHO21
3
KN[e_OkOVL{FfOVYG1IJjZ`ahH`iG1jÈ[]7[hfOkM54ª6781_hH{ZO:eZFHG~VDO[H[C`ijZIG¤Ahf{ZOK1VYGJX_[ChH`¡V[`iI1j_KU
¤OKhfXZFHO[AK[COkIJMNOpj3hKhH`aGJj5hHFfOKhfMNOkj~hk¢:9!GJXZj_y7KFH`aO[/G¤hf{ZOQ[OkI1MNOkj~hL[BKFfOny3Oks
hHOkFfMN`ijZOzy ^~]©VL{_KjZIJO[hH{KhgKFHO°y3OphHOVYhfOy^~]©VDGJMNe_KFH`¡[GJj¦hfG©Kj§KkcOkFKI1O
JKUiXZOSVYGJMgeZXZhHOzy G1jKhf`iMNOQl`ij_y3G G1jhf{ZOe_K1[h1KUiXZO[lG¤Ahf{ZO:[`iI1j_KUud;K1[
`iUiUaX_[hfFLKhHOy`ij»IZ¢J¢7qB[hLK^ZUi`¡[{Z`ajZIhH{7Ox»_FL[Chl1KUiX7OG¤hH{Z`¡[!KkcOkFKIJOQFHObcXZ`iFfO[
hH`iMgOx^_OY¤G1FHO:VYGJMgeZXZhLKhH`aGJjG¤hH{ZOn1KFf`WKj_VYO:VkKj°^_Oe_OkFC¤GJFfMNOy;¢
Dð'ºû÷
iûñ ÂôÓöõYñ
ð2 Y÷Cøuð'$D÷
õ'7ôï÷
+õDþûôuð|ôöºõDñNø÷öñöôÓö®ð(ºö<;fðLôÓöõYñ ÂõDþ ûôÂðLôöºõYñ =
>\`iIJX7FHO51_E{_K1[O[x`ajNhH{7O[COkIJMgOkj3hKhf`iGJjgG¤AKjKJVDGJX_[ChH`WVn[Ce¿OpOV|{°[C`iIJjKU¢
?xOkj_VYOQ[XV|{gKj°Ke7eZUi`¡VkKhf`iGJj5eZFfO[Okj~hL[A[X_VpVYO[`acOleZ{_K1[O[@1ʤGJFlOzKJVL{N[COkIJMNOpj3hpd
eZ{_KJ[CO[G¤¯FHOp`ijZ`ahH`WKUi`aKhf`iGJj:KUihHOpFHj_KhHO!l`ahH{hf{ZOlFHOkI1XZUWKFeZFfG~VYO[H[C`ijZIQhLKJ[CÆe_OkFHs
¤GJFHMg`ijZI:hH{ZOnVDGJMNeZX7hLKhf`iG1j¢ZqBKJVL{NG¤hf{ZOkM `W[lKJVDhH`icOrGJj°KhH`aMNOl`ij~hHOkFf1KUÂdc`aj
[X_VL{¨KlKk]©hH{Kh5hH{ZOOkj_y©G¤hf{ZON»_FL[ChG1jZO°VYGJFfFHO[Ce¿G1j_yZ[hHGÈhH{ZO°[ChLKFfhG¤
hH{ZO°[OzVYGJj_y©G1jZOc¢v!{7O[CObcXZOkj_VY`ajZI^_OkhCAOkOkj©hf{ZO[OeZ{KJ[Oz[`¡[`ij~hHFf`ij_[C`WVJd`aj
hH{ZOS[Okj_[COhH{_Kh`ihQ`W[l`iMNe_Gc[COy¼^~]°y3Oke_Okj_y~Okj_VY`aO[«G1jFfO[X7UihL[leZFfG~y3X_VYOyKj_y
VYGJj_[CXZMNOy¯¢
ÇO¬Kj~h!hfGeZFfG~`Wy~OKeZFfGJI1FLKMgMNOkFl`ahH{NMNOzKj_[hHGSy3O[C`iIJjKhHOQhH{ZOe7{_KJ[CO[
`ij5KeZFHG~VDO[H[C`ijZIn^~][X7^;y~`i~`Wy3`ajZIn`ihL[KJVYhf`i~`ihC]n`ij~hHOkFfJKU3`aj3hfGny3`®;OpFHOkj~hMNG~y3Oz[Yd
Kj_yhHG5KJ[f[G~VY`¡KhfO[X7^ZsÂK1VYhH`a3`ahH`aO[!hHGhf{ZOkM¢
3
hH{ZOS[ObcXZOkj_VD`ijZI5G¤AFHG1^_GJhH`¡VhLK1[Æ7[Y¢tÒFHGJ^_G1hH`WVhKJ[CÆVYG1j_[`¡[hL[`aje_OkF¤G1FHMN`ajZI
K hKJ[CƧ¤XZj_VYhf`iGJj VYG1MNeZXZhf`ijZIÈhH{ZOVYG1MNMKjy@hHG¦hf{ZOÈKJVYhfX_KhfGJF¤FHGJM [COkjZs
[GJFl`ajZeZXZh¬yZKhK3¢_v\KJ[CÆ3sUiOkcOpU¿e7FHGJI1FLKMNMN`ij7IG¤KFHG1^¿G1hl`ij~cGJUacO[BKJ[H[CG~VY`WKhH`ajZI
[X_VL{¨KJVYhf`i~`ihH`aO[l`ahH{¦MNG~y3Oz[GJj§l{7`WVL{©hH{ZOp]¦KFfOOkj_K^ZUiOzy;¢/>ZGJF5OkÄ7KMNe7UiOcd
MNGcOkMOpj3h[hHGlKFLy°[GJMgOe_GJ`ij~hQVkKj°KUahHOkFfj_KhfOl`ahH{eZFHOp{ZOkj_[C`iGJjhKJ[Æ7[Yd_GJF
KJ[H[COkM5^ZUi]G¤BGJ^ZoCOVDhL[-4ªp 7u¢_q/K1V|{°[CX_V|{hKJ[Æ`aj3cG1UicO[hH{7Oe_OkFC¤GJFfMKj_VDOG¤AK
[e_OVY`®»¯VhKJ[CƤXZj_VYhf`iGJj VYGJj_y~`ihH`aGJjZOzy ^~]hf{ZO[HKhH`¡[+¤uKJVDhH`iG1jG¤QVYGJjy3`ihf`iGJj[hHG
^¿O5VL{ZOVLÆcOy`ajhf{ZOOkj~3`aFHGJj7MNOkj~hkdJ¤GJF`ahL[r[hKFHh:K1[x!OkUaU\KJ[«¤G1F`ih[xOkj_y¯¢ >ZGJF
OkÄZKMNeZUaOcdH`ij:KjK1[H[COkM^7Ui]QKeZeZUa`WVkKhH`aGJjdpK!MNGcOkMNODj3hZG¤Zhf{ZOBIJFf`ieZe_OkFhfG¬KFyZ[
KjG1^ZoCOVYhAhHG5^¿OnI1FLKJ[Ce_Oy`W[lKjKJVDhH`i~`ihC]¤G1Fxl{Z`¡V|{ghHOkFfMN`ij_KhH`aGJjN`¡[ly3OY»_jZOzy
^3]°VYOkFfhLK`ijVDGJj_y3`ahH`aGJj_[xG1jhH{ZOp`iFreZFHGÄ~`iMN`ah]5Kj_yGJFH`aOkj~hLKhf`iG1j¢rFLKJ[CeZ`ij7I¼`ahHs
[OkU®¤_`ij~cGJUacO[KjZGJhf{ZOkFÆ~`ijyG¤ VYGJj~hHFfGJUZFfXZUiOlO¢IZ¢adkl`ihf{eZFHOVD`W[`aGJjMNGcOkM5Okj~hL[
Kj_yVYG1j3hKJVYhQ[Opj_[`ajZIZ¢¯v!{ZOhfFLKj_[`ahH`iG1j^_OkhC!OpOkjhH{ZO:hAGOpÄ3OVDXZhH`aGJjMNG~y3O[
`W[ly3Ff`icOkjN^~]Nhf{ZOnFHOVYOpeZhH`aGJjNG¤BOkÄ~hHOkFfj_KUaUi]5[Opj_[Oy`ij3¤G1FHMKhH`aGJj¢
w«OK1VYhH`a3`ahC]eZU¡Kz]7[nKj©`aMNe_GJFfhLKj~hnFHG1UiON{ZOpFHOcd;`aj©hH{KhhKJ[CÆZ[:VkKj©^_ONe_OkFC¤GJFfs
MNOyN`ij°FHO[Ce¿G1j_[O5hHG [GJMgO[C`ihfX_Khf`iGJjG1FeZFfGJe_OkFHhC]°G¤Bhf{ZOOkj~3`aFHGJj7MNOkj~hk¢~£Âj
GJhH{7OkF!AGJFLy7[Yd3hf{ZO[COMNG~y3O[BVYG1FHFfO[e_GJjy hfGhH{ZOQhH`iMgO!`ij~hHOpFH1KU_GJjl{Z`¡V|{5hH{7O
eZFHG1e¿OpFHhC]N{ZG1UWyZ[D¢
ÇOBlKj3h\hHGr{_KkcOG1e¿OpFLKhf`iG1j_[KUaUiGl`ij7I!¤GJF\hH{ZOA[e_OVD`ª»¯VkKhH`aGJjG¤_[CObcXZOkj_VY`ajZIc[
G¤:K1VYhH`a3`ahH`iOz[YdFfOkUWKhH`ajZIhf{ZOk`aFhH`iMgON`ij~hHOkFf1KUlhHGÈhH{7O[hKhfOG¤>hH{ZO°OkÄ3hfOkFHjKU
!GJFfUWyNGJFrhHGG1hH{ZOpFx`aj3hfOkFH1KU¡[Y¢
3
hH{ZOVDGJj~hHFHG1U!G¤QKy3`iI1`ihLKU!¬KhLVL{d\KJ[KAOkUiUasÓÆ~jZGljÈOkÄZKMNeZUaOG¤Q{Z`iOkFKFV|{Z`as
VkKUud¿e_KFLKUiUiOpU\KXZhfGJMKhLK 4®Y7ud¿hf{_KhQ!OhfFHOKh`ij[OVDhH`iG1j ~¢ºP3¢¯v!{Z`¡[xOkÄ7KMNeZUaO
VYGJj_[C`W[ChL[/`ajKJ[f[G~VY`¡Khf`ijZIhfGOKJVL{NG¤\1KFH`iG1X_[!MNG~y3Oz[lKhLVL{NMNG~y3Ocd~y3`®¯OkFHOkj~h
[OkhfhH`ij7IMNG~y3O[DdJ[ChHG1e3¬KhLVL{MNG~y3OKny3`®;OpFHOkj~hK1VYhH`a3`ahC]c¢v!{ZOk]SKFHOrVL{_KFLKJVDhHOks
FH`ipOy^3]hf{ZOrlKk]`ijZe7XZh¤FHGJM hf{ZO^ZX7hHhHG1j_[/G¤hf{ZOx¬KhV|{5`W[^_Ok`ij7I`ij~hHOpFHeZFfOks
hHOy;d~Kj_yN{ZG Kj_yNl{Z`¡V|{5`ij~hHOkFfj_KU_1KUaXZO[AKFHOQ^¿Op`ijZI:XZe¯yZKhfOyKJVkVYG1FLy3`ajZIJUa]c¢
v!{Z`W[n`W[K°V|{KFLK1VYhHOpFH`W[ChH`¡VOkÄ7KMgeZUiO:G¤QOkÄ3hfFH`aj_[`¡V[ObcXZOkj_VD`ijZI1Éhf{ZOy3`®¯OkFHOkj~h
MNG~y3O[G¤K1VYhH`a3`ahC]©KFHO`aj_y3Oke_Okjy3Okj~hkdBKjy§hH{ZO°GJFLy~OkF`aj§l{Z`¡V|{¦hf{ZOk]¨KFfO
[ObcXZOkj_VDOy`W[lKFH^Z`ahHFKFH]¢
?xG!OkcOkFpd;hH{7ONX_[OgG¤QKX7hHGJM KhLK¼¤G1Fhf{ZO[e_OVD`ª»¯VkKhH`aGJj©G¤n[CX_V|{^¿Op{_Kk3`aGJFL[
¤GJFLVDO[hH{7O!GJFy3OkF`ajl{Z`¡V|{SKJVYhf`i~`ihf`iO[KFHOle_OkF¤G1FHMNOzy;dkFHOkIKFy3UiO[f[G¤¯l{ZOphH{ZOkF
hH{ZOkFfOlOkÄ~`W[hAVYG1j_[hfFLK`ij~hL[GJFAy3Oke_Okjy3Okj_VY`aO[jZOzVYO[H[C`ihKhH`ajZInhH{Z`¡[Y¢>ZG1F!OkÄ7KMNe7UiOcd
hH{ZO°GJFLy~OkF`aj¦l{Z`WVL{§hf{ZOJKFH`aGJX_[NVDGJMNe_GJj7Okj3h[G¤nhf`iMNO Ó{ZG1XZFL[Dd/MN`aj3X7hHO[Dd
[OVYG1j_yZ[Dd_yZKk]cdZMNGJj~hH{g]cOKFpd;¢i¢a¢ KFHOnXZe¯yZKhHOy`W[/»_Ä~OyN`ijhf{ZO:KXZhfGJMKhHGJj ¢
ÇO:lKj~hrhHG»_j_yMNG1FHOny3OzVYUWKFLKhf`icOnlKk]7[«hfGN[Ce_OVY`ª¤]°VYG1j_[hfFLK`ij~hL[l^¿OphAOkOkj
`ij~hHOkFfJKUW[G1j l{7`WVL{ KJVYhf`i~`ihH`aO[5KFHOÈe_OkF¤G1FHMNOzy;¢>ZG1F¼OpÄZKMNeZUiO°{ZOkFfOcd/hf{ZOk]
MN`iI1{3hr{_KkcOhfG^_O5OkÄZVDUiX_[C`icO^_OVpKX_[COG¤rhH{ZO5Ui`aMN`ihfOyNj3XZM5^_OkFG¤l^ZXZhfhHG1j_[
¤GJFrVYG1j3hfFHGJUaUi`ajZIhH{ZO:y3`aIJ`ahLKU¬KhV|{¢
v!{ZOr!G1FHÆ:eZFHO[COkj~hHOy{ZOpFHOlMNG1FHO!e7FHOVY`¡[OkUa]:K`iM [Kh/e7FHG3`¡y3`ij7In[hfFHX_VYhfXZFHOz[[XZe7s
e_G1FHhH`ajZI01
3
y3O[HVDFH`ie7hH`iG1jNhH{7OKhHhKJVL{ZOkMNOkj~h!G¤BK1VYhH`a3`ahH`aO[/hfG5y3`ª¯OkFfOkj3hlMgG~y3O[Yd
3
y3O[HVDFH`ie7hH`iG1jNG¤ hH{ZO:[XVkVYO[f[`iG1jG¤A[CX_V|{MNG~y~O[Y¢
v!{7OMNG1hH`aJKhH`aGJj¤GJF:{_Kk3`ajZI^_GJhH{e_KFKJy3`aIJM[eZFfO[Okj~hn`ijKN{3]~^ZFH`¡y U¡KjZI1X_KI1ON`W[
hfGVYG1M^7`ijZO:hH{ZOgKJy31Kj3hKIJOz[G¤rG1jhf{ZO5GJjZON{Kj_y©y7KhLKN_G U¡KjZI1X_KI1O[¤GJFnhH{7O
[Ce_OVY`ª»¿VkKhf`iGJjG¤A`ijZeZX7h
G1XZhHe7XZhnFHOkU¡KhH`aGJj_[r`ijhHOpFHM[lG¤AObcX_Khf`iG1j_[xGJFnjZOphAGJFfÆZ[xG¤
G1e_OkFLKhHGJF[Yd¯Kj_yNG1j¼hf{ZOnGJhf{ZOkFl{_Kj_yNhH{ZO:KJ[f[G~VY`¡Khf`iGJj°G¤ [X_VL{K1VYhH`a3`ahH`iOz[ hfGMNG~y3O[
G1Fxhf`iMNOr`ij~hHOpFH1KU¡[ ÓG1jl{Z`¡V|{hf{ZOk`iFlOpÄ3OVDXZhH`aGJjN`¡[!Okj_K^7UiOy ¤G1Fxhf{ZO:[ObcXZOkjVY`ijZIG¤
j7GJjZs`ij_[ChLKj3hKjZOkG1X_[xhKJ[Æ7[Y¢
"#'
v!{7OrVYGJj~hHOkÄ~hG¤;hf{Z`W[AGJFHÆ:`W[FfOKJVDhH`icOAeZFHG1IJFKMNMN`ajZI 4PJ7_KjyO[Ce_OVY`WKUiUa]hH{ZOQ[]~jZs
VL{ZFfGJjZG1X_[!KeZeZFHGKJVL{hHG`ahAKj_yhf{ZOU¡KjZI1X_KI1O[lKJy3G1eZhH`ajZI`ah1 ¿
ZÉ ;!Z~"#%$&'(')'¯{_KkcOB^_OkOkjy~OkcOkUiG1e_Oy>¤G1Fhf{ZOl[fKz¤Ory3O[C`iI1j
G¤nFHOzKUishH`aMNOcd;FfOKJVDhH`icO KeZeZUa`WVkKhH`aGJj_[ 4à 3dlY:7¢Bv!{ZOp`iF¤GJFfMKU¬y3OY»_j7`ihH`aGJj_[[CXZeZe_GJFfh
hf{ZOk`aFeZFHG1IJFLKMNMN`ajZIOkj~~`iFHG1jZMNOkj~hL[@1\VYGJMNe7`iUiOpFL[x¤OKhfXZFH`ajZI[hLKhH`¡V¼Kj_KUa]Z[C`W[Dd!VYG~y~O
I1OkjZOkFKhf`iGJj d3eZFfGcG¤hHGcGJU¡[lKj_y[C`iM5XZUWKhH`iG1jG¤y3]~j_KMN`WV!^_Ok{_Kk~`iG1FL[Y¢7v!{ZOk`aF!MNG~y3OpU¿G¤
hf`iMNO5[CXZeZe_GJFfhL[FHOK1[G1jZ`ijZIÈK^_GJXZh5GJFy3OkFKj_y¦[`aMXZUahLKjZOk`ihC]°G¤r`ij[hLKj3h[Y¢tVYhH`aGJj_[
KFHOrMNG~y3OkUaUiOynK1[ ^_Ok`ajZI:[]~j_VL{ZFHG1jZGJX_[DdcMNOKj7`ijZIrhH{_KhBhH{ZOk`aF`ij7eZXZhBKj_yhH{7Ok`iF\FHO[CXZUih
KFHOneZFfO[Okj~hrKhrhH{7O[fKMNOQ`ij_[ChLKj~hk¢
>ZFHG1MhH{ZOe_G1`ij~hG¤l~`iOkÒG¤lhH{7Ok`iFny~O[`aIJjÈKJ[neZFHG1IJFKMNMN`ajZI5UWKj7IJX_KIJO[DdÉhf{ZOk]
VpKj^_OVYU¡KJ[H[C`ª»_Ozy `aj3hfGhC!Gg[hC]~UiO[@1
3
`iMNe_OkFKhH`acOnUWKj7IJX_KIJO[DdhHOpÄ3hfX_KUA[XV|{KJ[ _¿d;G1FI1FLKe7{Z`WVkKUA[X_VL{©K1[
3# $É&QKj_y ;!«G1FAKUW[CG ; #% ÓOkcOkjhf{ZGJX7IJ{`ih[/[COkMKjZs
hH`WVp[y3GcO[jZG1hNOkÄ~eZUi`¡VY`ihfOkUi]KJy3G1eZh¤XZUaU[C]3jV|{ZFfGJj~] hf{ZOk]¨KFfOe_KFHhH`¡VYXZU¡KFHUa]
!OkUaU\[XZ`ahHOyhfGNhH{ZOSy3O[fVYFH`aeZhH`aGJjG¤¬KXZhfGJMKhLKNKj_y hf{ZO[Ce_OVY`ª»¿VkKhf`iGJjG¤¬[Oks
bÊXZOpj_VY`ij7Ic[ ÓO¢IZ¢adZy3`¡[HVYFfOkhHO>VYGJj~hHFfGJUiUaOkFL[ Ld
3
[]~j_V|{7FHGJj7`ikOy:yZKhK«_G¦UWKjZIJX_KIJO[l{Z`¡V|{SKFfOry3OVYU¡KFLKhH`acO GJFBObcX_Khf`iG1j_KULd
[X_VL{:KJ[ Ól{7`WVL{KUiUaGr[_hHGQy3O[fVYFH`a^¿O\¤XZj_VYhf`iGJj[ ¯KjyZÉ uKUaUiGls
`ijZI°hHG°y3O[fVYFH`a^¿O5FHOpUWKhf`iG1j_[ Éhf{ZOk]ÈKFHON^_O[Ch[X7`ihHOzy hfGhH{7ON[Ce¿OzVY`ª»¯VpKhH`aGJj©G¤
yZKhKS_GÒVDGJMNeZX7hLKhf`iG1j_[ Oc¢I7¢idZ[C`iI1j_KU\eZFHG~VDO[H[C`ijZI5GJFry3`aIJ`ahLKU\VD`iFLVDXZ`ih[ L¢
t[VkKj5^_Or[OkOkj¤FfGJM¾hH{ZOlGcOkFf3`aOk©G¤¯FfOkUWKhHOyAGJFHÆ:`ij5[COVYhH`aGJj dJhH{ZOr[CObcXZOkjZs
VD`ijZIgKj_y°yZKhK_GÒUWKjZIJX_KIJO[Qy3GNjZG1hxI1OkjZOkFKUiUa]N¤OKhfXZFHO:VYG1j_[hfFHX_VYh[VYG1M^Z`ajZ`ij7I
^_G1hH{ e_KFLKJy~`iIJM [Yde_KFHhH`¡VYXZU¡KFHUa]¦[hfFHX_VDhHXZFfO[Opj_K^ZUa`ijZIÈhH{7O[`aMNeZUaON[CObÊX7Okj_VY`ajZIG¤
y7KhLK_G hKJ[Æ7[l`ij_[C`Wy3Ohf{ZO:[]~j_VL{ZFHG1jZGJX_[!¤FLKMNOkAGJFHƯ¢
! #" ".'/+ *- #"*
v!{7O[CGJUaXZhH`aGJje7FHGJe_G[Oy{ZOkFHOn`¡[!hAGJsW¤GJU¡y 1Z`ihrVYG1j_[`¡[h[!`ij
3
OkÄ3e7Ui`WVD`ihHOpUi]Qy3OY»_jZ`ajZIMNG~y~O[ ÂK1[BK[OkFf`iO[\G¤¯`ij_[ChLKj3h[/VL{_KFLKJVDhHOkFf`ikOy^~][CGJMNO
eZFHG1e¿OpFHhC] B`aj°yZKhKS_G e7FHG~VYO[f[`ajZIZdZ{ZOpj_VYOnhH{ZOn`aj3hfOkFH1KU¡[!Kj_y¼hf{ZOnhLKJ[CÆZ[Dd
3
X_[`ajZIhH`aMNOl`ij~hHOkFf1KUW[¤GJFlhf{ZOn[e_OVD`ª»¯VkKhH`aGJjNG¤B[CObÊX7Okj_VY`ajZIc[BG¤ [X_VL{NMNG~y3Oz[Yd
{ZOkj_VYOQhH{ZOnGJe_OkFKhf`iGJj[xGJj°`ij~hHOkFfJKUW[D¢
t[f[G~VY`¡Khf`ijZI°KNhH`aMNOn`ij~hHOkFfJKUhfG°K¼y7KhLK_G¾eZFHG~VYOz[H[n[e_OVY`®»_O[K±u¸ÀLÁ`u¢Oc¢ad;K
j7GJjZs`ij_[ChLKj3hKjZOkG1X_[nKJVYhf`i~`ihC]Kj_y`ih[xOkÄ~OVYXZhf`iGJj`aj3hfOkFH1KU Â[ChLKFHhnKj_yOkj_yhH`iMgO[ ¢
Ç {7OkjOkj3hfOkFH`ajZI:KjOkÄ~OVYXZhf`iG1jN`ij~hHOkFf1KU_G~VkVYXZFfFHOkjVYOcdZKhKJ[CÆVkKj^_On[ChLKFfhHOyKhl`ihL[
VDXZFHFfOkj3h[hKhfOcdcKJ[B[fKzcOzyl{ZOkj`ahlK1[[X[e_Okj_y3Ozy;dcGJFFfO[hKFHhfOy`ij`ahL[`ijZ`ahH`¡KU7[hLKhHOcd
`®¤`ah!¬KJ[l`ij~hHOkFfFHXZeZhfOy;¢
v!{ZOl`aj3hfOkFH1KUW[KUiUiG¨KjOpÄ3eZUa`WVY`ahFHOY¤OpFHOkj_VDO!hHG:[ChLKhfO[Kj_yhfFLKj_[`ahH`iG1j_[Yd[XZeZe_G1FHs
hf`ijZIghH{ZO5[Ce¿OzVY`ª»¯VpKhH`aGJj°G¤¬KXZhfGJMKhLKG1FneZUWK1VYOkshHFLKj_[`ahH`aGJjjZOkhCAGJFHÆ7[Y¢ ?xOkjVYOcdZ`ihr`W[
e_G[H[`a^ZUiOhfG[e_OVD`ª»¯VY]°{Z`iOpFLKFV|{7`WVkKUÂd3eKFLKUiUaOkUKXZhHG1MKhK3dVDGJj~hHFHG1UiUa`ijZI5hH{ZO5[CObcXZOkjZs
VD`ijZIrG¤ yZKhLK«_G¦hLK1[Æ7[YdJhf{_KhVkKjhH{ZOkM [OkUacO[¿`aj3cG1UicOBK[CObcXZOkj_VY`ajZIlG¤ [CXZ^ZshLKJ[CÆZ[D¢
?xGAOkcOkFkd[ObcXZOkjVY`ijZI`¡[jZGJhgjZOVYO[f[HKFH`iUa]`aMNe_OkFLKhH`acOcd`ij§hf{_Kh5OkÄ~OVYXZhf`ijZIÈK
hKJ[CÆny3GcO[jZGJh\jZOVDO[H[fKFH`aUi]Qy3`iFfOVYhfUi]ry3Oke_Okjy>G1jhf{ZOAKJVYhf`iGJjn`aMNMNOy3`aKhHOkUa]!eZFfOVYOy3`ajZI
`ahk¢¯£Âhny3Oke_Okj_y7[xGJjÈhH{ZO5[fKhf`W[+¤uK1VYhH`aGJjG¤r[G1MNOe7FHGJe_OkFfhH`aO[x`ij`ahL[xOpj3~`iFfGJjZMNOpj3hpdʤGJF
`ahL[[ChLKFfhH`ajZI©K1[AOkUiU¬KJ[¤GJF5`ih[hHOkFfMN`ij_KhH`ajZI Oc¢I7¢id`aj¦hH{ZOOkÄ7KMNe7UiO[nG¤>[OVYhf`iG1j
1¢i:1_KJ[H[CG~VY`WKhH`ajZI5[e_OVY`®»¯VK1VYhH`aGJj_[!hfGhH{ZOn`ij7`ihH`¡KUa`iKhH`iG1je7{_KJ[COcdZl{ZOkjN`ajeZFHOVD`W[`aGJj
MgGcOpMOkj~hrX_[OK°VYOkFfhLK`aj¦[Opj_[G1F5VYGJj~hHFfGJUBeZFHG~VDOy3XZFfOcd!¢a¢i¢ ¢ ?xOkjVYOhf{ZONhfOkMNe_GJFKU
KFHFKjZI1OkMNOkj~hNG¤[X_VL{ hLKJ[CÆZ[°VYGJjVYOkFHj[UiO[f[NhH{ZOKJVYhfX_KU:[CObÊX7Okj_VY`ajZI©G¤gK1VYhH`aGJj_[
hf{_KjFfOkUWKhH`iG1j_[!^_OkhC!OkOpjFfOkMKj7Okj3hBeZFfGJe_OkFfhH`iOz[!`ijNhf{ZOOkj~3`aFHG1jZMNOkj~hkdJhf{_KhrVpKj^_O
y~O[HVYFf`i^_Oy^~]°[hLKhHO[ GJFn[ChLKhfO1KFH`WK^ZUiOz[ L¢¯Ç {ZOkjhH{7O5VYGJj_VDOkFHjZOzy¼MNG~y3Oz[y3GNjZG1h
`aj3cG1UicOVDGJMNeZUaOkÄ`ij~hHOpFHFHOpUWKhf`iG1j_[{Z`ae_[Ydhf{ZOk`aF5y3O[HVDFH`ie7hH`iG1j¦`W[5bÊXZ`ahHO°[`aMNeZUaON`ij¦hH{7O
y7KhLK_G [ChC]3UaOcdX_[`ajZI¦[fVkKU¡KFNhC]~e¿Oz[¤GJFNhf{ZOy~OY»_jZ`ahH`iG1j_[G¤S[hKhHO1KUiXZO[Dd!Kj_y
y~OkUWKk]7[ ¤GJFlhf{ZOk`aFlMNOkMNG1FH`ipKhf`iG1j¢c£Ó¤hf{ZOMNG~y~O[lKFfO[CObcXZOkj_VYOzy`ijK5VYG1MNeZUiOpÄlKk]
{7GAOkcOkFpdÊhf{ZOkj°X_[`ajZI5Kj°`iMNe_OkFKhH`acOr[hC]~UiOnMKk]^_OeZFfG»_hK^ZUaOc¢
?xOpj_VYOhf{ZOK1[H[G~VD`WKhf`iG1jG¤ KjK1VYhH`a3`ahC]hfGNKhH`aMNO`ij~hHOpFH1KU¯`W[lK^_KJ[C`WVOpUiOkMNOpj3h
G1jhf{ZOlKk]NhfGhf{ZO:y3OY»_j7`ihH`aGJjNG¤Ay3OVDUWKFKhf`icOcdcObcX_Khf`iG1j_KU¯GJe_OkFLKhHG1FL[Yd¯`ijNG1FLy3OkFrhHG
¤uK1VY`iUa`ihKhHOhf{ZO5OkÄ3e7FHO[f[`iG1jG¤ry3]~j_KMN`WVkKU^_Ok{_Kk~`iGJF[Y¢\v!{ZO[COG1e_OkFLKhHGJF[!G1XZUWy^_O
VDGJMNe_KhH`a^ZUiO:l`ihH{ÈhH{7OObcX_KhH`iG1j_KUAKeZeZFHGKJVL{©G¤kÉ_d;Kj_y©K ¤G1FHMKUBVkKUWVYXZUaX_[
AGJXZU¡yN^¿O:^_KJ[COyNGJj°hH{ZOkMdÊOpÄ3hfOkj_y3`ajZIhH{ZOnMNG~y~OkU;G¤lZ
txj KeZeZUa`WVkKhH`aGJjgVYXZFHFfOkj~hHUi]^_Ok`ajZIAGJFfÆcOyX7e¿G1j`W[/hf{ZOny3`¡[HVYFfOkhHOr[CObcXZOkj_VY`ajZIG¤
VDGJj~hH`ij~XZG1X_[Yd_yZKhLK_G hKJ[CÆZ[l`ij°KJVDhH`icOQFHGJ^_G1hH`WVn3`¡[`aGJj!4ÃP7¢
£ÂjhH{7O/¤GJUaUiGl`ij7IZd`ij[COVYhf`iGJj5P~dAOl`ij~hHFfG~y3X_VYOAhH{ZOljZG1hH`aGJjG¤¯hKJ[Æ7[YdKJ[H[CG~VY`WKhH`ajZI
K5yZKhLK_G eZFHG~VDO[H[rKj_y°Khf`iMNOr`ij~hHOpFH1KUu¢3ÇÈO`ij~hHFfG~y3X_VYOnhf{ZO:[]~j_V|{7FHGJj7GJX_[ryZKhK
G U¡KjZI1X_KI1O5ZÉ`ij [OVYhf`iG1jN ~¢iJd7Kj_yNhf`iMNOA`ij~hHOkFfJKUW[BKFfO`ij~hHFfG~y3X_VYOzyNKJ[AKj
OpÄZKMNeZUiOG¤QKe_KFfhH`¡VYXZUWKF5ZÉeZFHG~VYOz[H[`aj¦[OzVYhH`aGJj¦ ~¢ºP3¢v!{ZOkjd\`ij[OVDhH`iG1j©Zd
hf{ZO5[OzbÊXZOpj_VY`ij7IG¤!hf`iMNOQ`ij~hHOkFfJKUW[l`W[xe7FHO[COkj3hfOy¼`ajhH{ZOn¤GJFfM G¤AeZU¡KJVYOpsÓhfFLKj[`ihf`iG1j
I1FLKeZ{_[Yd Kj_y1KFf`iG1X_[n[ObcXZOkj_VD`ijZIe_KhHhfOkFHj_[D¢v!{ZOS[ObcXZOkj_VD`ijZI5G¤¬yZKhLK_GÒhLK1[Æ7[
`¡[«{Kj_y3UaOy`ij[OVDhH`iG1j ~¢ cOVYhf`iG1jOkÄ~e_Gc[CO[xhH{7O^_K1[`WV`¡y3OK1[¬¤G1FnKjÈKeZeZUi`¡VkKhf`iG1j
G¤lhf{ZO[O5eZFf`ij_VY`aeZUiOz[xhHG°hH{ZOg[ObcXZOkjVY`ijZIgG¤rVDGJj~hHFHG1U¤XZj_VYhf`iGJj[`ijFfGJ^_GJhf`WVk[D¢t«¤hfOkF
KÈFHOk~`iOk G¤:FfOkUWKhHOy¦!GJFfƦ`ij [COVYhf`iGJj d/AOI1`icO[e_OkFL[Ce¿OzVYhH`acO[G¤:hH{7`W[!GJFfÆ;d
VDGJj_VYOpFHjZ`ajZIlhH{ZOBeZFfGJI1FLKMgMN`ijZIAUWKjZIJX_KIJOlUaOkcOkU1KJ[Ce¿OzVYhL[DdJK1[ÉAOkUiUKJ[MNG~y3OkUasÓG1FH`iOpj3hfOy
Kj_yKeZeZUa`WVkKhH`iG1j_[sGJFf`iOkj~hHOzyGJjZOz[Y¢
¾/ p/ ! rB p /
:
% *" . * + - #" '/.0.'/.
t yZKhLK¼_G KeZeZUa`WVkKhH`aGJjÈ`W[Kj¨KJVYhf`i~`ihC]hf{_Kh:`W[OpÄ3OVDXZhHOyGcOkFnhf`iMNO`u¢Oc¢ad;jZGJj7s
`aj_[hKj~hLKjZOkGJX[Ui]¢Z£Âh!`¡[lVYGJMNe_G[OyG¤BK[COkhlG¤ yZKhLK_G eZFHG~VYOz[H[Oz[!`ijhH{ZOQIJOkjZOpFLKU
[COkj_[CO13hf{ZOk]NMKk]`aj_VYUiXy3OMNOkMgGJFH`aY`ajZInKj_y[ChLKhfOn`ij3¤G1FHMKhH`iG1jÓO¢IZ¢ad~[X_VL{°KeZFHG1s
VDO[H[lVkKj^¿OSKjKXZhfGJMKhHGJj L¢
£Âh`¡[OkÄ3OzVYXZhHOzy¤FfGJM Kj¦`ajZ`ihf`WKU [hLKhHONhf{_Kh:`W[n^ZXZ`iUah:KhKj¦`ijZ`ahH`WKU`ij[hLKj3h/¢
v!{7`W[`aj_[hKj~h`W[j7GJhAKxFHOzKJVYhf`iGJj`aj_[hKj~hG¤¯hf{ZOlFHOK1VYhH`acO!eZFfG~VYO[f[YdJ`ajhH{ZO¬[Okj_[COlhH{_Kh
`ah`W[\jZGJhBKFfOKJVYhf`iG1jhHGnKj`ajZeZXZhOpcOkj3h1k`ih`¡[^_OY¤GJFfOlhH{ZOl^_OkI1`ijZj7`ijZIG¤hf{ZOlFHOK1VYhH`acO
OpÄ3OVDXZhH`aGJj5MNOVL{_KjZ`¡[M¢cTAKX[HKUaUi]cd~hH{Z`¡[/MNOzKj_[hH{KhrKeZFfG~VYO[H[lVpKjNjZG1hry3OVY`¡y3OrGJj
`ahL[xGlj[hKFHhf`ijZI Óhf{Z`W[xe_G1`ij~hG¤l~`iOk `W[nKU¡[G°KJy3G1eZhHOzy `ajG1hH{ZOkFQUWKj7IJX_KIJO[nOc¢I7¢id
;! 4ªY:7Âd_V|¤f¢7[OVDhH`iG1j L¢
t yZKhLKG¾eZFHG~VDO[H[x{KJ[jZGNhfOkFHMN`aj_Khf`iG1j[e_OVD`ª»_Oy`ij`ahL[OpUª¤f¢_v!{ZOkFfOY¤GJFfOcd_`ihL[
Opj_yVpKj5GJjZUa]^¿OQy3OVD`Wy3Oy`ajFfOKJVDhH`iG1jhfGnhH{ZOrFHOVDOkeZhH`aGJjG¤\OkÄ3hfOkFHjKUZOkcOpj3h[GJFBhH{7O
FfOKJVL{Z`ajZING¤AI1`icOkj°JKUiXZOz[Y¢ cXV|{ÈKe7FHG~VYO[f[nVkKj^_O5[OpOkjÈKJ[nKjKe7eZUi`¡VkKhf`iGJj°hH{_Kh
VpKj^_O`ij~hHOpFHFHX7eZhHOy5GJFQK^_GJFfhHOyN¤FHGJM GJXZh[`Wy~O1ZhH{ZOnhfOkFHMN`aj_Khf`iG1jN`W[lKFHOK1VYhH`aGJjhHG
Kj§OkcOpj3hpdÉhf{_Kh`¡[hH{ZOU¡KJ[hG1jZOhHFfOKhfOy©^3]©hf{ZO°KeZe7Ui`WVpKhH`aGJj Oc¢I7¢id\hH{ZO`ij[hLKj3h
l{7OkjhH{ZO^ZXZhfhHGJj°`W[lVYUa`WVLÆcOy`ij°KjKeZeZUa`WVkKhH`aGJj¢Zv!{Z`¡[¬»_jKU`ij[hLKj3hQVkKj
^_OÈVkKUiUaOyr¢«TAKX_[HKUiUa]cd/hf{Z`W[MNOKj_[hH{_KhNhH{ZO°eZFHG~VDO[H[NVpKj y~OVY`Wy~O¼G1j `ih[Glj
hfOkFHMg`ij_KhH`iG1j Oc¢I7¢id~l{ZOkjNFfOKJVL{Z`ij7I5[GJMgOxhf{ZFHO[C{ZGJU¡yNJKUiXZOLdZKj_yKUW[CGhH{_Khl`ihrVkKj
e_OkFC¤GJFfM hHOkFfMN`ijKU¯VkKU¡VYXZU¡KhH`aGJj_[!l`ahH{Z`ajhH{Z`¡[!UWKJ[Chl`ij_[ChLKj3hp¢
£ÂjhH{Z`¡[x[COkj_[COcd_KI1OkjZOkFKU\yZKhLKG KeZeZUa`WVkKhH`aGJjOkÄ~OVYXZhfO[/G1jÈKhf`iMNOr`ij~hHOkFf1KU
U¡KJ[ChH`ij7I¤FHG1MK^_OkI1`ijZjZ`ajZIN`aj_[hKj~h jZGJh`aj_VYUaX_y3Oy°KJ[KNFHOzKJVYhf`iGJj°OkcOkj~h AXZehHG
K»_j_KU\`ij[hLKj3h Ó`ijVYUiX_y~OyN`ijhf{ZO`aj3hfOkFH1KU L¢_£Âj°GJhH{7OkF!G1FLyZ[Dd¿`ahxOpÄ3OVDXZhHO[lGJjÈK
UaOY¤hHsGJe_Okj dZFH`iI1{3hfsÂVDUiGc[COyN`ij~hHOkFf1KU_¢
( ' #'/ ,*%.
!rXZFrMNG1hH`i1KhH`iG1jN`ij°`ij~hHFfG~y3X_VY`ajZIhH`aMNO`ij~hHOpFH1KU¡[/`W[lhHG5Okj_K^ZUiOnhf{ZO:[hHFfX_VYhfXZFHOy°y3Oks
VDGJMNe_Gc[C`ihf`iGJj:G¤¯hH{7Ol`ij~hHOkFfJKU `aj3hfGn[XZ^7sÓ`aj3hfOkFH1KU¡[K1[`iUiUaX_[hfFLKhHOyn`ij»IZ¢cP~¢c£Âj
hf{Z`W[B[COVYhH`aGJjd1!OQy3OY»_jZOr`ij~hHOpFH1KU¡[^3]hf{ZOk`aF^_KJ[C`WVxe7FHGJe_OkFfhH`aO[IJ`icOpj`ijg[OkcOkFKUZe7FHOks
VD`W[Ole_G1`ij~hL[/^_OkUaGn¢3v!{7O[Ore_GJ`ij~hL[Bl`iUaUZ{_KkcOxhfGn^¿O>VYGJMNe7Ui`iOzyl`ihf{l{7OkjNOkj_VDG~y3`ijZI
`aj3hfOkFH1KUW[l`ij©ZÉN`ijÈ[OzVYhH`aGJj ~¢ºP~¢£ÂjhH{ZOSVYGJj~hHOkÄ~hrG¤¬yZKhK_G KeZeZUa`WVkKhH`iG1j_[Yd
>`iI1XZFHO:P 1_ÅrOVYGJMge¿G[`ajZI `ij~hHG5[CXZ^Zs`ij~hHOkFf1KUW[D¢
AO:KFHOSy3OKUi`ij7Il`ihH{°yZKhLK`ajhH{ZO¤GJFfM G¤A[COkFH`aO[/G¤B1KUiX7O[«`aj_y3OkÄ~Oy^~]Nhf`iMNO1cAO
VpKUiU_hf{ZOkM [C`iI1j_KU¡[/Oc¢ÃIZ¢id[`iI1j_KU{_KJ[B1KUiX7O[ Ól{ZOkFfO£®! x`W[jZG1hlK:yZKhfO
^7XZhnKNGJFy3OkF`aj_y3OkÄ L¢¯£ÂjIJOpjZOkFLKUÂdy~`ª¯OkFHOpj3hQ[`aIJj_KUW[nVkKj{KzcO:1KUiX7O[Kh:y3`®¯OkFHOkj~h
`aj_[hKj~hL[Dd;O[e_OVD`WKUaUi]NOpcOkj3h[ 1Zhf{ZOk]°KFfOjZGJhj7OVYO[f[HKFf`iUa]KUiU\eZFHOz[Okj~hxhfGJI1OkhH{ZOpFk¢£ÂjZs
hfOkFH1KUW[rKFHOSy3OY»_j7Oy¼`ajhH{7O¤GJUaUiGl`ij7IN[CGhf{_Khhf{ZOk]{_KkcO:K1KUiXZOSKhnKj3]`ij[hLKj3h
D¢
txjÈ`ij~hHOpFH1KU#"N`W[nKUihHOpFHj_KhHOkUa]`ij_[C`Wy3O hH{ZOg[G1Ui`WyÈUi`ij7O[x`ij»_I7¢ >Kj_yÈGJXZh[`Wy~O
hH{ZO>y3GJhfhHOyNUi`ajZO[B`ijN»_IZ¢ L¢ !VpVYXZFHFfOkj_VYOz[/G¤hH{7O`ij~hHOkFf1KUKFHOnhH{7OhH`aMNOx`aj3hfOkFH1KUW[
l{7OkFHONhf{ZO5`ij~hHOkFfJKUB`W[`aj_[`¡y3Oc¢\v!{Z`¡[[hKhfO¼G¤rhH{ZOg`ij~hHOkFfJKUB`W[OpÄ3eZFfO[H[COyÈKhOzKJVL{
`aj_[hKj~h$!^_OkhC!OpOkj ¦Kj_y ¨^3]N`ahL[!1KUaXZO&% 1
% ')(+*,!(-/.)012!34,!(-/. )5 H
£Âh\`W[IJ`acOkj:Kj`ij7`ihH`¡KUc1KUaXZO/¤FfGJMÒ`ij[hLKj3h Ó`ajhH{7O!OkÄ7KMNe7UiOG¤¿»IZ¢1P3d!"«`¡[É`ajZ`ihf`WKUiUi]
12!34,!(-/. L¢cv!{ZO:VYG1MNeZUaOkMNOkjchBG¤ Kj°`ij~hHOkFf1KU6":`W[!hH{7O`aj3hfOkFH1KU87!1+9:<;=":l{Z`WVL{N`W[
(*,>(-?.nl{7Okj@"`W[12>3,!(-/.:Kj_yFHOVD`ieZFfG~VkKUaUi]c¢
TBG1{ZOkFHOpj3hfUi]¦l`ihf{ _dB[XZ^Zs`ij~hHOpFH1KU¡[KFHOhLKÆcOkj§hfG©^_OUaOY¤hHsGJe_OkjdBFH`aIJ{~hHs
VDUiGc[COy JUa`iÆcOB`ij5FHOzKJVYhf`icOlKXZhHG1MKhK3dcKhfFLKj[`ihf`iG1j`¡[MKJy~OlKJVpVYGJFy3`ijZInhfGKFfOVYOk`acOy
OpcOkj3hG~VkVYXZFfFHOkj_VDOKj_yKVYXZFfFHOkj~hA[hKhHOdÊl{7`WVL{NFHO[CXZUih[`ijKnjZOk [hKhfO1c{ZOkj_VYOrhH{7O
`aj_[hKj~hl{ZOkFfONhH{ZOgOkcOkj~hG~VpVYXZFL[^_OkUaGJjZI[hHGhf{ZOhH`iMgO`ij~hHOkFfJKU!G¤rhH{ZO°VYXZFfFHOkj~h
[ChLKhHOcd~jZGJhAhHGhf{_KhAG¤hH{ZOrjZOk [ChLKhHOc¢7£+j5GJhf{ZOkFA!GJFyZ[Yd~hH{ZOQJKUiXZOrG¤A%5KhAhH`aMNO$`W[
hf{ZOn1KUiX7OB!C?D
FE
l{Z`¡V|{`¡[xy3OphHOkFfMN`ijZOzy^~]NhH{7OG~VpVYXZFHFfOkj_VYOnG¤AK^_GJXZjy3`ijZI5OkcOkj~h
Khxhf`iMNO#HG 1
% JI B!C?DFE
ÂP
v!{ZOQJKUiXZOKB!C?DL_G¤\hf{ZOr`ij~hHOkFfJKUZ`W[BIJ`acOkj^3]5KnjZOk 1KUaXZOKMONQPB!C/DL¿l{7OkjNhH{7OkFHO
`¡[/G1jZO Ó`¢ÃOc¢id1l{ZOkj`ihA`W[ly3OY»jZOy^~]NKjG~VkVYXZFfFHOkj_VDOG¤ K^_GJXZj_y~`ijZIOkcOpj3h LdcGJFlOkU¡[O
^~]Nhf{ZOneZFHOk~`iG1X_[!1KUaXZO1
B!C?DL I
MONQP#B>C/DL `ªeZFHOz[Okj~h
B!C?DLFE
GJhf{ZOkFfl`W[O
Â
tlh!hf{ZO»_FL[Chx`aj_[hKj~h$ I JdB>C/D!`¡[ly3OY»_jZOzy ^~]Nhf{ZOn`ijZ`ahH`WKU;1KUaXZOnG¤ %¿¢
>`aj_KUaUi]cd_hH{7OjZOk 1KUiXZO MJN P#B!C?D KUihfOkFHj_KhHO[QKhnhH{ZOG~VpVYXZFHFfOkj_VYOz[xG¤¬GJe_OkjZ`ajZI
OpcOkj3h 1: .* "nKj_yNVYUaGc[C`ijZI:OkcOkj~h7!;>1,).=" c`ihB`¡[ (*,>(-?.QKk¤hHOkFAhH{ZOrG~VkVYXZFfFHOkjVYOxG¤
1: .* "
dZKj_y12>3,!(-/.:Kz¤hfOkF 7>;!1,.="
1
MONQP#B>C/D4I
(+*,!(-/. `® 1: .* " `W[!eZFfO[Opj3h
12!3,>(-?. `® 7>;!1,.="
`¡[!eZFHOz[Okj~h
Ó
>ZXZFfhH{ZOkFfMNGJFfOcdchH{ZOne_GJ`aj3hr`ij°y3OD»_jZ`ij7I5[XZ^Zs`ij~hHOpFH1KU¡[!`W[!hHG5OkÄ~eZFHOz[H[!hH{7OFfO[hfFH`¡VYs
hf`iG1jhfGKe_KFfhnG¤G¤lhf{ZOOpÄ3`¡[hHOpj_VYOG¤lOkcOpj3h[Kj_yhH{7ONyZKhLKhH{ZOk]VkKFfFH]
l`ahH{hH{7OkM 13AOnlKj~hlhHGgy3`¡[hH`ajZIJX7`W[{G~VkVDXZFHFfOkj_VYO[!G¤BOkcOkj~hL[BhH{_KhKFHO:`ij_[C`Wy3OnKj_y
G1XZhL[C`Wy3Onhf{ZOn`ij~hHOkFfJKU81
(+* % JI `®@% JI (*,>(-?.
@12!3 % OI `®@% JI 12!34,!(-/.
>ZG1FKj`ij~hHOpFH1KUA" hf{ZOnGJe_OkjZ`ajZI5^¿G1XZj_yZ[QKFHO:GJXZh[`¡y3OnG¤B`ah141:<.* " I
12>3 "3d7Kj_yhH{ZOnOkjy ^_G1XZj_yZ[x`aj_[`¡y3O1 7>;!1/,).=" I (* "~¢
*,..
v!{7ONjZGJhf`iG1j@G¤:±Â¸ÀLÁ5hf{_KhAO¬Kj~hhHG`aj3hfFHG~y3XVYOVYG1j_[`¡[hL[`aj¦KJ[f[G~VY`¡Khf`ijZIÈ[CGJMNO
u[XZ^7s CeZFfG~VYO[f[O[nG¤rhH{7ONKeZeZUi`¡VkKhf`iG1j©l`ihf{©[CGJMNO Â[CXZ^Zs Â`ij~hHOpFH1KU¡[ G¤ rGJj
l{7`WVL{hf{ZOk]:KFfO!OkÄ~OVYX7hHOy;¢pvK1[Æ7[KJVDhH`icOBG1j`ij~hHOpFH1KU xFfOkeZFfO[Okj~hhH{7Oly3OY¤uKXZUih
VpKJ[O21ZhH{ZOk] KFHOg¶L´D³¸cµ¿´Dµ3±hf{ZFHG1XZIJ{ZG1XZhrhH{ZOnl{ZG1UiOKeZeZUa`WVkKhH`iG1j¢
£Âj_[C`Wy3O:hH{ZOhKJ[Æ°`ij~hHOkFf1KUÂd_hH{7OhLKJ[CÆeZFfG~VYO[f[>`¡[xK1VYhH`acO`u¢Oc¢adZeZFHO[COkj~hkd¯Kj_yOkÄ~Oks
VDXZhH`ajZIjZGJFfMKUaUi]c¢!rXZhL[C`Wy3ONhf{ZO5`ij~hHOkFfJKUÂd;hf{ZO5eZFHG~VYOz[H[`¡[`ijZOkÄ~`W[ChHOkj~h`u¢Oc¢ad;K^_[Okj~hkd
Kj_y¼hf{ZOn1KUiX7O[!`ihlÆcOkOpe_[/`aj¼`ahL[!`aj3hfOkFHj_KU\[hKhHO:KFHOX7j_KkJK`iU¡K^ZUaOc¢Z£Âj°[G1MNOn[Opj_[On`ih
`¡[«G1XZhG¤BhH`aMNOcd3`ahL[rVYUiG~VLÆN^_Ok`ajZINVDXZhk¢cOkFf`iO[!G¤!1KUiXZO[lG¤Ahf{ZO[C`iIJjKUW[l`ij~cGJUacOy`aj
KnhLK1[Æ5l`iUiU7^¿OQFHO[ChHFH`¡VYhHOzyhfGhH{7Oxhf`iMNOA`ij~hHOkFfJKU¯VYGJj~hLK`ijZOy^_OkhC!OkOpjhf{ZO[ChLKFHhlKj_y
Opj_yNOkcOkj~h!G~VkVYX7FHFHOpj_VYO[lK1[l[OkOkj`aj¼e_G1`ij~h AK^_GcOc¢
v!{Z`¡[`W[hfFLKj[e_KFHOkj~h/¤FfGJM hf{ZOre¿G1`ij~hG¤ 3`aOk¦G¤ hH{ZOreZFHG~VDO[H[`ijhf{ZOQ[Okj_[COlhH{_Kh
`®¤`ahL[`aj3hfOkFHj_KUr[hKhHO`¡[ÆcOke7hkdhf{ZOkj¦FHOpsÓOkj~hHOpFH`ij7IKjZOk G~VkVDXZFHFfOkj_VYOG¤QhH{7OhLK1[Æ
`aj3hfOkFH1KU;l`iUaU[COkOn`ihlFHOz[XZMNOrOkÄ~OVYXZhf`iG1jK1[!`ª¤`ihl{_K1y¼FfOkMK`ajZOy5KJVYhf`icOc¢
3
hH{ZOneZFfG~VYO[H[lOkÄ~OVYXZhfOy_d
3
hH{ZOnOkÄ~OVYXZhf`iG1jN`ij~hHOkFf1KU6"~d
3
hH{ZO:[hKFfhH`ij7IN[ChLKhfO ÂVYXZFfFHOkj~hkd~GJFr`ijZ`ahH`¡KUl{ZOkj ÓFfOks ÂOkj~hHOkFf`ijZI:hH{ZOn`aj3hfOkFH1KUu¢
G1FHOreZFHOVD`W[OpUi]cdhH{Z`¡[UWKhfhHOkFBMNOzKj_[hf{_Khpdcl{ZOkjNFfOksÓOpj3hfOkFH`ajZIhH{7OxhKJ[Æ`aj3hfOkFH1KUÂd
±'_´!¯¶ %Y´HÀLÀ %L¸cµY´n¶L´ÓÀD±u¸c¶|±C´ N¸J±l²i±WÀrVYX7FHFHOpj3hr[ChLKhfO
`u¢Oc¢ad¿l`ahH{È`ih[>`aj3hfOkFHjKUMNOpMNGJFf`ªOz[l[OkhnhHG°hH{ZOp`iF1KUaXZO[nKh:hH{ZO`aj_[hKj~hnl{ZOkFHO5hH{7O
hKJ[CÆlK1[ÀJÀ !¿´|µ 3´ ÓMgOKjZ`ajZI01Z`ajKhfOkMNe_GJFKFf] ¤uK1[{Z`aGJj¢ >ZGJFQKeZFfG~VYO[H[¼Kj_y
Kj`aj3hfOkFH1KUA"3d7[X_VL{°KhKJ[CÆVpKj^_Oj7GJhHOzy 1* " ¢
txj7GJhH{7OkFllKk]NG¤A[e_OVY`®¤]3`ajZIKhLK1[Æ7[«`¡[!hH{_Kh
± '_´!¯¶ %Y´fÀLÀ %L¸cµY´:¶L´ÓÀD±u¸c¶|±C´ N¸J±A²i±½Àr`ajZ`ihf`WKU¯[ChLKhfO
K1[y3OY»_j7Oy^~]hH{ZOy~OVYUWKFLKhH`iG1j_[G¤nKUiUB`ih[[ChLKhfOJKFH`¡K^ZUaO[Yd`ª¤rhf{ZONhKJ[ÆÈlK1[²Wµ
±C´D¶D¶ !_±C´ ÓMNOKjZ`ij7I01K^¿G1FHhfOy©`ij¦K°y3OY»_jZ`ahH`acO¤uKJ[{7`iGJj L¢v!{7`W[FfOksu[hLKFHhf`ijZIe_GJ`aj3h
G¤hf{ZONeZFfG~VYO[f[`W[I1`icOkj Khhf{ZO`ij_[ChLKj3h:^¿OpIJ`ij7jZ`ijZIhf{ZON`aj3hfOkFH1KUudl{Z`WVL{dUi`aÆcO
¤G1FKeZeZUa`WVkKhH`iG1j_[Yd_`W[!G1XZhL[C`Wy3O:G¤AhH{7OOpÄ3OVDXZhH`aGJj`ij~hHOkFf1KU¢>ZGJFQKeZFHG~VDO[H[ Kj_y°Kj
`aj3hfOkFH1KU6"~d_[X_VL{°KhLKJ[CÆ°VkKj^_OjZG1hHOy .>7 " ¢
t [CX_[e_Okj[`iG1j¦GJF`ij~hHOpFHFHX7eZhH`aGJjÈG~VkVYXZF[Khhf{ZONOkjy`ij_[ChLKj3hpdÉl{7`WVL{©`W[n`ij_[C`Wy3O
hf{ZO5`ij~hHOkFfJKUÂd_Ui`aÆcO `ijhH{7ONVkK1[O5G¤«KeZeZUa`WVkKhH`aGJj_[D¢ ?xOkj_VDOcd¿G1jOzKJVL{Okjy`ij_[ChLKj~hkd
eKFHhf`WVYX7UWKFBhfFHOKhHMNOkj~hL[VkKj5^_Oe_OkF¤G1FHMNOy u[`aIJj_KUW[/OpMN`ihfhHOy;dkMgOkMNGJFf`iO[XZe¯yZKhHOy;d
¢a¢i¢L¢_£ÂhKUW[CG¼MgOKj_[!hf{_Khnhf{ZOOkjyG¤AhH{ZO:OkÄ~OVYXZhf`iGJj°`ij~hHOkFf1KUVkKj^_Oy~OkhHOkFfMN`ij7Oy
¤FfGJM `ij_[C`Wy3OQhH{ZOneZFfG~VYO[H[Dd3`ajKUaG~VkKUaUi]5yZKhLKsÂy3Ff`icOkj¬Kz]dZKJ[!AOkUiU¯K1[/¤FHGJM GJXZh[`Wy~O
G¤BhH{7OhKJ[CÆ;¢
v!{ZOle7FHG~VYO[f[`ij5KrhLKJ[CÆVkKj`ih[OkU®¤Z¤OKhfXZFHOr[CXZ^ZshLK1[Æ7[YdJl{Z`¡V|{SKFfOrKJVYhf`icO!G1j5[XZ^7s
`aj3hfOkFH1KUW[xG¤lhH{7OhLKJ[CÆ`aj3hfOkFH1KU¢¯v!{Z`W[`ij~hHFfG~y3X_VYOz[xhH{ZO5e_Gc[f[`i^7`iUi`ahC]G¤¬{Z`iOpFLKFV|{7`WVkKU
KFHFKjZI1OkMNOkj~hL[G¤hLK1[Æ7[Y¢7EKFKUiUaOkUi`¡[M¾^¿OphAOkOkj5hLK1[Æ7[!`W[/G1^ZhLK`ijZOzyj_KhfXZFLKUiUa]l{ZOpj
hKJ[CÆZ[[C{_KFfOhH{ZO5[fKMNOn`aj3hfOkFH1KUudZGJFGcOkFfUWKeZeZ`ij7I`aj3hfOkFH1KU¡[Y¢!rhH{ZOkFQ[hfFHX_VDhHXZFfO[«¤GJF
hf{ZO:[ObcXZOkjVY`ijZI:G¤BhKJ[CÆZ[rKFfO[ChHX_y~`iOyNUWKhHOkFl`ajhH{Z`¡[!e_Ke_OkFp¢
>ZGJF:OkÄ7KMNeZUaOcd¯VYGJj_[C`Wy3OpFKeZFHG~VDO[H[7>12>*!3l`ihf{©`ijZe7XZh:[`iI1j_KU;d Kj_yG1XZhHe7XZh
[C`iI1j_KUhf{ZOnj3XZM5^_OkFNG¤G~VkVYX7FHFHOpj_VYO[!G¤¯¢3ÇÈOnlKj~hlhHG5[Ce_OVY`ª¤]gKhLKJ[CÆVYG1XZj3hf`ijZI
K°VYOkFfhLK`ajj~XZM5^_OkFG¤rG~VpVYXZFHFfOkj_VYOz[G¤ ÈKk¤hHOkF:OkcOkj~h _¢ >ZG1FhH{7`W[Ydhf{ZOe7FHG~VYO[f[
7!12>*!3:VkKjN^_OQKJ[f[G~VY`¡KhHOzyl`ihf{hf{ZOx`aj3hfOkFH1KUZ^_OkIJ`ajZjZ`ij7Il`ahH{5OkcOkj~h Kj_yOkjy3`ijZI
l`ahH{°Kj°OkcOkj~h Ny3OY»_j7OyN^3]5hH{ZOnMNG1MNOkj~hl{ZOkjhKÆcO[!hf{ZOn1KUiX7O KJ[/¤GJUaUiGr[ 1
=
=
ÂK Ó^
>\`iIJX7FHO: 1;TBG1XZj3hfOkFQ[X_[Ce¿Opj_y3OyGJj ÂK LdZOK1V|{ ^L¢
l{7`WVL{eZFfG~`Wy~O[«X[xl`ihf{ÈKjOkÄ7KMNe7UiOG¤lKNeZFfG~VYO[f[y3OkhfOkFHMN`ajZ`ij7I`ih[xGljhHOkFfMN`is
jKhH`aGJj 1~hH{ZOQVkKUWVYXZU¡KhfOyG1XZhHe7XZh!1KUaXZOre_KFfhH`WVD`ie_KhHO[`ijghH{ZOQy3OVY`¡[`aGJj5G¤\Okj_y~`ijZInhH{7O
OpÄ3OVDXZhH`aGJjN`aj3hfOkFH1KUu¢
' '/+ *). $ ' * " #.
v\KJ[CÆN^_Ok{_Kk~`iGJF[ly3`ª¯OkFfOkj~h ¤FfGJM hf{ZOhC!GSVYGJj[hHFfX_VYhf`iGJj[1*gKj_y .>7`ij~hHFfG~y3X_VYOzy
OzKFHUa`iOkFpdZKj_yNUiO[f[!eZFH`aMN`ihf`icOcdcKFHO:VYG1j_[`¡y3OkFHOzy `ajNhH{7`W[r[OVYhf`iG1j¢
BÌÑ "!È#\Ñ Ì~$\3 "!° zZ%
>ZG1F!OkÄ7KMNe7UiOcd1VYGJj[`Wy~OkFAKVYG1XZj3hfOkFBG¤\hf{ZOj~XZM^_OkF Ó`ij7`ihH`¡KUa`ikOynhHG:hH{ZOr1KUiX7O'&
G¤BG~VkVYX7FHFHOpj_VYO[BG¤AKj`ij7eZXZhkd7Kj_y`W[@1
3
ÀD±Â¸c¶L±´ XZe_GJj°^_OkIJ`aj¼OpcOkj3h ¿dZl`ahH{`ij7`ihH`¡KU¯JKUiXZO (&Zd7Kj_y
3
ÀD±8 !&!_´ xXZe_GJjOpj_yNOkcOkj~h _d
3
ÀÀ !_´Dµ 3´ XZe_GJj°OkcOkj~h)7dZXZj~hH`iU¯`ihl`¡[
3
¶|´HÀ~³´ xXZe_GJjOkcOpj3h*¯¢
v!{ZOÈ[CX_[e_Okj[`iG1j G¤:hH{ZOeZFfG~VYO[f[ 7>12!*>3©G1j `ij~hHOkFf1KU + MNOzKj_[hH{_KhN`ih
`¡[xK1VYhH`acOnGJjÈhH{ZOSVYGJMNe7UiOkM5Okj~hLKFf]`ij~hHOkFf1KU ÓX_[C`ijZIKgVYGJMNe7UiOkM5Okj~hLKhf`iG1jNGJe_OkFKhHG1F
7!19/: ;ZdcAOVpKUiU¯`ih 7!1+9: ; + L¢~v!{Z`W[!`¡[!GJ^ZhK`ajZOy¼^~] 1
7!12!*!3 1* 7>19:<; #
l{7`WVL{^_Ok{_KkcO[AKJ[!`aUiUiX[hHFKhfOy`aj»IZ¢Z uK¢¿TBGJX7j3hf`ijZI:`W[/e_OkFC¤GJFfMNOyGJjNhf{ZOnVYG1MNs
e7UiOkMNOpj3hlG¤ # + ÓFHOpUWKhf`icOkUa]NhHG 1;hf{ZGc[COG~VpVYXZFHFfOkj_VYOz[«G¤lhH{7O`ijZeZX7hhH{_Kh
£ÂhL[l[ChLKFHhH`ajZIgKj_yOkj_y3`ajZIGJj°`ij~hHOkFfJKU `W[!hH{7OkjGJ^ZhK`ij7Oy¼^~] 1
7>12>*!3 1* 7!1+9: ; + .>7
l{7`WVL{N^_Ok{_KkcO[lKJ[l`iUaUiX_[ChHFKhHOzy`ij»IZ¢¯ Ó^¢_v!{ZO:VYGJXZj~hHOpF!`W[!FfOks`ijZ`ahH`WKUi`akOyhHGhH{7O
1KUiXZO (&NOK1V|{hf`iMNO:hH{ZO`aj3hfOkFH1KU N`W[rFHOksOkj~hHOkFfOy;¢¯£+jeKFHhf`WVYX7UWKFpdVYG1XZj3hf`ijZI
VpKj^_O[hfGJeZe_Oyl{ZOkhf{ZOkFl`ihl`¡[l[X_[Ce_Okj_y3OyGJFljZG1hk¢
BÌÑ "!ÈZJ
½LÍ\Ï ½
. \Ì3
.Z.ÓÌ
trj5KJVYhf`i~`ihC] ÓOc¢ÃIZ¢id[OkhfhH`ij7InKU¡KFHM hf`iMNOB`ajNKjNKUWKFfM VYUaG~V|ƯdZ¢a¢i¢ VkKj^_OQ[X_[Ce¿Opj_y3Oy;d
l{7`iUiO°hH{ZOÈVDGJMNeZX7hHOy¦JKUiXZOz[N[{ZG1XZUWy§FfOkMK`ij¨KJVkVDO[H[C`i^ZUaOhHG¦G1hH{ZOkF VYGJMNe_G1jZOkj~hL[
G¤lhf{ZONKeZeZUa`WVkKhH`iG1j ÓOc¢ÃIZ¢ad¿¤GJF:y3`¡[eZU¡Kz]dVYGJMge_KFf`W[G1jG¤«KUWKFHMhf`iMNO:l`ihH{VYXZFfFHOkj~h
hf`iMNOd¢i¢i¢lv!{7Okjd;`ahx`¡[xhH{ZO5VDGJMNeZX7hH`ij7IKJVYhf`i~`ihC]Nhf{_KhnM5X_[hr^_O5[X_[Ce¿Opj_y3Oy;dl{Z`aUiO
hf{ZOMgOkMNGJFf`ik`®jZI:G¤A1KUaXZO[xFfOkMK`aj_[lKJVDhH`icO21ZhH{ZOk]M5X_[hl^_O5[COke_KFKhfOhLKJ[CÆZ[Dd¿OzKJVL{
K1[H[CG~VY`WKhHOyl`ihH{`ahL[!`ij~hHOpFH1KUu¢
v!{ZO¤GJUaUiGl`ijZIOpÄZKMNeZUiOgVYG1j_VYOkFfj_[K[ChHG1e3¬KhLVL{dBKj_y@O[Ce_OVY`WKUiUa]hf{ZO°KUWKFHM
[COkhHhf`ijZI¤XZj_VDhH`iG1j_KUa`ihC] 1hH{ZOKUWKFHM hH`iMgON`W[5[Okh Ó`¢ÃOc¢id\`ij_VDFHOkMNOpj3hfOy r^3]¦eZX[{Z`ajZI
K^7XZhHhfGJj¨y3XZFf`ijZI`aj3hfOkFH1KU<; 9 2!:/- 3 .y~OkUi`aMN`ihfOy^3]ÈG~VkVYX7FHFHOpj_VYO[nG¤QOkcOkj~hL[
¤FfGJM KjZGJhf{ZOkF!^7XZhHhfGJj5G¤\hH{7Ox¬KhLVL{¢cv!{7`W[BKU¡KFHM hf`iMNOA`W[By3`¡[eZU¡Kz]cOzyGJj5hH{ZOrlKhLVL{
y~`W[e7UWKk]G1jZUi]Èy3X7FH`ij7IKjÈ`ij~hHOpFH1KU 1 ; 9 d_^ZXZh`¡[nVYGJj_[ChLKj3hfUi]VDGJMNe_KFHOyhHG
hf{ZO:VYXZFfFHOkj~h!hf`iMNOcdcI1`icOkjN^~]Nhf{ZOnhH`iMgOkFkd~Kjy G1XZhHe7XZhHhf`ijZIgKj°OkcOkj~hgVkKX_[C`ijZI5hH{7O
^_OkUaU;hfGFf`ijZI`ajVpKJ[OnG¤BObcX_KUa`ihC]c¢
v!{~X_[Ydhf{ZO5KU¡KFHMhf`iMNOdZMNOkMNG1FH`iDOyN`ijÈKN1KFf`WK^ZUiO d¿¤Oy^~]hH{ZO1KUiXZO ¯d;`W[
MgG~y3`ª»_Ozy ^~]©KeZFHG~VDO[H[ 2!:/- 3<.gGJj¦`ij~hHOkFf1KU<; 9 2!:- 3<.7d;`¡[y3`¡[eZU¡Kz]cOzy ^~]©K
e7FHG~VYO[f[- (!,+: ;5GJj`aj3hfOkFH1KU 1 ; 9d~KjyVYGJMNeKFHOzyhHGNhf{ZO:VYXZFfFHOkj~hlhH`aMNO
°^3]°KNFHOpMKjZOpj3hleZFfG~VYO[f[ 7!19/: /.7¢ZtxjOkjVYG~y3`ij7I¤GJFhf{Z`W[QVkKj^_Og[ÆcOkhV|{ZOzy¼K1[
¤G1UiUaGr[@1
2!:/- 3 .J '1* ; 9 2!:- 3<.
- (>,:<;4 '1* 1 ;9
7!1+9: /./ ¶|´|³¸cµ¿´Dµ3±
9.+91 (?. 4 ¸&%D±Â²W·k²i±u²Ó´HÀ
NÌ~YZk !#\ÌcÏÐ( Ì37 BÌ!(" !Ì
Ì¿
trjZGJhf{ZOkFle_KFHhH`¡VYXZU¡KFl^_Ok{_Kk~`iGJFr`ij~cGJUacO[B[hfGJeZeZ`ajZIgKhKJ[Æ°Kj_y¼FfO[hKFHhf`ijZI5`ihl`aj`ihL[
`ajZ`ihf`WKUc[hKhfO!`¢ÃOc¢idDK!jZOp©`ij_[ChLKj_VYOBG¤7`ihpd ²i±'7²Wµ± '_´BÀp¸c³´A²WµÊÀD±Â¸cµ~±Ód1KJ[ _xKj_y
;!xy~G uV|¤f¢c[COVYhH`aGJj L¢~txj5OkÄZKMNeZUaO/G¤KeZe7Ui`WVpKhH`aGJjG¤hH{7`W[`W[hH{7Or[hHG1e3¬KhV|{d
l{7OkFHOrhH{ZOQFHO[COkhAVkKj5^_On[OkOpjNK1[!hH{ZOQ[hfGJeZeZ`ajZIG¤ hH{ZO>[hHG1e3¬KhV|{d~Kj_yl`ihf{Z`ij5hH{7O
[fKMNOQ`ij_[ChLKj~hkdZhf{ZO:[hKFHhrG¤ KjZOk `ij_[ChLKjVYOnG¤B`ahk¢
v!{Z`¡[N`ij~cGJUicOz[e¿OpF¤GJFfMN`ij7IhC!GÆ3`aj_yZ[G¤5KJVDhH`iG1j_[NXZe_GJj hH{ZOG~VpVYXZFHFfOkj_VYOG¤
hf{Z`W[ .,.3OkcOkj~h1\VYG1MNeZXZhf`ijZI°hH{ZO1KUaXZO[Khhf{Z`W[`aj_[hKj~h`ij_[C`Wy3OghH{ZON`aj3hfOkFH1KUÂd
Kj_yeZFfOke_KFH`ij7IhH{7OxjZOpÄ3hB`ij~hHOpFH1KUZG~VpVYXZFHFfOkj_VYOl`u¢Oc¢adJFHOpsÓ`ajZ`ihf`WKUa`ik`ajZIQ[hLKhHOr1KFH`¡K^ZUaO[Y¢
v!{7OkFHOrKFHOQy3`ª¯OkFfOkj3hKe7eZFHGKJVL{ZO[hHGn`ij~hHOpIJFLKhHOlhf{Z`W[^_Ok{Kz~`iG1FB`ij~hHGG1XZF¤FLKMgOk!G1FHÆ 1
3
`ihl`W[!e_G[H[`a^ZUiOnhfGNy3OD»_jZO:K ?.,3 3e7FH`iMg`ihH`acOJdKUiG1jZI5l`ihH{ 1*Kjy.>7;¢
?xG!OkcOkFpd!hH{7`W[¼`aj3cG1UicO[K§MNG~y~`ª»¯VkKhH`aGJj G¤ghH{ZO¦y~OY»_jZ`ahH`iG1j G¤g`ij~hHOpFH1KU¡[Yd
^¿OzVkKX_[COhH{ZOk] [{ZG1XZUWy©{_KkcONG~VkVDXZFHFfOkj_VYO[MgOkOkhH`ajZI°Kh^_GJX7j_y3`ij7I`aj_[hKj~hL[Yd
l{Z`WVL{`¡[«jZG1hhH{7O5VkKJ[CO^~]¼j7G l{ZOkFHO:hH{ZOpFHO`¡[KhQUiOK1[hrGJjZO`aj_[hKj~h^_OkhHs
!OkOkjhAG`ij~hHOkFf1KUBG~VkVYXZFfFHOkjVYO[ hf{ZO`ij~hHOkFfeZFHOkhKhf`iGJjG¤QhH{ZON`aj3hfOkFH1KUW[K1[
hLKJ[CÆZ[B[CXZIJI1O[h[/hH{Kh!`ahMN`aIJ{~h^_OrOkj3~`W[fKI1Oy;¢9!XZhBhf{ZOkjdJ`ahAy3`i~`Wy3Oz[KjN`ij~hHOkFfs
JKU`ij~hHGge_KFfhL[ ¤GJUaUiG!Ozy^3]K»_j_KU/eKFHh ¿d_Kj_y hf{ZO5bcXZO[hf`iG1j
KFH`¡[O[rl{ZOkhH{7OkFxhf{ZOk]M5X_[hrKUiU\^¿O5VDGJj_[C`Wy3OkFfOyK1[[Ope_KFKhHO`aj3hfOkFH1KUG~VkVYXZFfs
FHOkj_VDO[!G¤" cdZGJFBoCX_[hrK1[«eKFHh[«G¤G1jZOG~VpVYXZFHFfOkj_VYOr¤FHGJM hHG ¿¢
3
`ihl`W[!e_G[H[`a^ZUiOnhfGN[C`iM5XZUWKhHOr`ihlX_[C`ijZIhC!G`aj3hfOkFH1KUW[Yd7KJ[!¤GJUaUiGr[ 1
"
.!7 "
.!7 7!19/: ;=" % c³"!_¹i´|³´Dµ3±FHOpUWKhf`icO±
.>7
^ZXZhlhH{7`W[lKe7eZFHGKJVL{`ij~cGJUacO[Ydc`ajK5[Opj_[Ocd7y3XZeZUa`WVkKhH`ajZIhH{ZOneZFfG~VYO[f[ _¢
3
FHO[COkhHhf`ijZINhf{ZO`aj3hfOkFHjKU[hLKhHO5G¤AeZFfG~VYO[H[CO[nVkKj^_O5VYG1j_[`¡y3OkFfOyhHGN^_O`aj_y3Oks
e¿Opj_y3Okj~hlG¤Bhf{ZO:VYGJjVYOkeZhlG¤B`ij~hHOkFf1KUÂd7Kj_y°KJVL{Z`iOpcOyX_[C`ijZIgKe7FHG~VYO[f[«`ajZeZXZh
¤GJFhf{ZOFHO[COkhOkcOpj3hpdZMKj_KIJOyM Kj~X_KUaUi]^3]hf{ZOeZFHG1IJFKMNMNOpFk¢_v!{ZOFfO[Okh
hH{ZOkj°{_Ke7e¿Opj_[xhHG VYGJ`aj_VY`Wy~Ol`ahH{°hH{ZO:^¿OpIJ`ij7jZ`iI5OkcOkj~hlG¤Bhf{ZO`aj3hfOkFH1KU¢#?x`aOks
FLKFV|{7`WVkKUiUi]d`ahlVkKjN`ij~cGJUacOleZFHG1e_KIKhH`ajZIhH{7OFHO[COkhBhHGS[XZ^ZseZFfG~VYO[H[CO[YdZI1GJ`ajZI
KUiUhf{ZOnlKk]y3GljhHG5OK1V|{MNOkMgGJFH]SVYOkUaU;GJFry~OkUWKk]c¢
?xG!OkcOkFpdchH{Z`¡[l[GJUaXZhH`aGJj°eZFHG~`Wy3O[BjZG5IJOkjZOpFLKU\[ChHFfX_VYhHX7FHOc¢
v!{ZO¦e_Gc[f[`a^Z`iUa`ihH`aO[`ijÒhf{Z`W[KUihHOpFHj_KhH`icOÈFHOzbÊXZ`aFHO¦VDUiGc[COkFOkÄ7KMN`aj_Khf`iG1j ^_OY¤GJFfO
VL{ZGcG[`ij7Il{ZOphH{ZOkFl{Kz~`ij7I5Ky3OpFH`icOzy¤OKhfXZFHOz[!G¤hH{ZOnUWKjZIJXKIJOd¿G1FKeZFf`iMN`ahH`acOc¢
B :
£Âjhf{Z`W[n[OzVYhH`aGJjÈ!O5[{7G¾{ZG hH{ZO5VDGJj_VYOpeZhL[eZFfO[Okj~hHOzyK^_GcO5VkKjÈ^_ON[Ce¿OzVY`ª»_Ozy
Kj_yN`ij~hHOkI1FLKhHOy`ajNhH{7OnyZKhK_G [C]3jV|{ZFfGJjZ`akOyU¡KjZI1X_KI1O5ZÉ_¢ÊÇÈOl`aUiU¿»FL[h
`aj3hfFHG~y3XVYONhH{7ONO[H[COkj~hH`WKU!MNOzV|{_KjZ`W[CM[xG¤rhH{ZOÈZU¡KjZI1X_KI1OcdAKj_y©hH{7Okj©hH{7O
hf`iMNOn`aj3hfOkFH1KU¡[YdZl{Z`¡V|{l`aUiU\[COkFHcOSKJ[nKjOkÄ7KMgeZUiOnG¤QZ e7FHG~VYO[f[YdOkj_VDG~y3`ijZI
hf{ZOMNOpMNGJFf`iD`ijZIG¤[hKhHOQ`ij3¤G1FHMKhH`iG1j 4®67u¢ !rjNhf{ZO[CO^_KJ[CO[Yd~e_Gc[H[C`i^ZUaOOkj_VDG~y3`ijZI[
G¤BhH{7OhKJ[CÆZ[!`ajZÉNKFfOneZFHG1e¿G[Oy¯¢
$- ' # #"+ " #"
(
Ì~ÓÐ(\ .!DÍ \Ð(! cÌ~ѧÑ\3"ÐÊÏ .#! \#!_Ì
ZÉ 4ª677`W[KjObÊXKhH`aGJj_KUÂdcy7KhLKx_G¨GJFH`aOkj~hHOy;d1[]~j_VL{ZFHG1jZGJX[ U¡KjZI1X_KI1Ocdc^ZXZ`aUih
KFHG1XZj_y¦K¼MN`ajZ`iMgKU\ÆcOkFfjZOkUG¤l^_K1[`WVgVYGJj_[ChHFfX_VYhL[D¢£ÂhnMKj7`ieZXZU¡KhfO[[`aIJj_KUW[Ddl{Z`¡V|{
KFHOXZj~^_GJXZjy3Oy[OpFH`iOz[«G¤!hC]~e_Oy1KUiX7O[Yd_l`ihf{KjKJ[f[G~VY`¡KhfOyVYUiG~VLÆ°y3OkhfOkFHMN`ajZ`ij7I
hf{ZO`ij_[ChLKj3h[l{ZOkFHO1KUaXZO[KFHOeZFHOz[Okj~h4¤GJF`ij[hLKj_VYOcdBK[C`iI1j_KU$¦y~OkjZGJhfO[hH{7O
[CObcXZOkj_VYO $# &%' G¤QyZKhLK`ijy3OkÄ~Oy^3]hf`iMNOQ`ijK¼hH`aMNOy~GJMK`ij)(¢ c`aIJj_KUW[G¤
K°[e_OVY`¡KUBÆ~`ij_y©VpKUiUaOy .+*<.*>3KFfOV|{KFLK1VYhHOpFH`ipOyGJjZUa]^~]hH{7Ok`iF:VYUaG~V|Æ`u¢Oc¢ad;hH{ZOp`iF
e7FHO[COkj_VYO ÓhH{7Ok]KFHOIJ`acOkjhf{ZO^_GcGJUaOKjÈ1KUiX7O3 )2<.gKhOKJVL{G~VkVYX7FHFHOpj_VYO ¿I1`icOkj
K5[`aIJj_KU8¯dZ`ih[lVYUiG~VLÆN`¡[«G1^ZhLK`ijZOy^3]ghH{ZOnOkÄ~eZFHOz[H[`aGJj@.,* .*!3 ¯dZIJ`i~`ij7IhH{ZOnOkcOkj~h
e7FHO[COkj3h>[`iM5XZUahLKj7OkGJX_[CUi]Nl`ahH{ ¯¢v!{ZO5VYG1j_[hfFHX_VDhL[G¤¬hH{ZOU¡KjZI1X_KI1OVkKj^_O5X_[Ozy
hfG:[e_OVY`®¤]cdJ`ij5KjNObcX_Khf`iG1j_KU¯[hC]~UiOcdFHOpUWKhf`iG1j_[^¿OphAOkOkj5[C`iIJjKUW[`u¢Oc¢ad^_OkhC!OpOkjhH{ZOp`iF
1KUiXZO[Kj_y©^_OkhC!OkOkjÈhH{7Ok`iFSVYUiG~VLÆZ[D¢ c]7[hfOkM[G¤QObcX_Khf`iG1j_[GJj¨[`aIJj_KUW[KFHO^ZXZ`aUih
X[`ij7Ihf{ZO:VYGJMNe_G[`ihf`iG1jVYGJj[hHFfX_VYhp¢
v!{ZO VYGJMNe7`iUiOpFxe_OkFC¤GJFHM [hH{7ONKj_KUa]Z[C`W[G¤hf{ZOgVYGJj_[C`W[ChHOkj_VD]G¤QhH{ZOg[]7[hfOkM G¤
OzbÊX_KhH`aGJj_[Dd_Kj_yy3OphHOkFfMN`ijZOz[ l{7OkhH{ZOpFxhf{ZO:[]~j_V|{7FHGJj7`iKhH`iG1jVYG1j_[hfFLK`ij~hL[l^¿OphAOkOkj
hf{ZO[`iI1j_KU¡[KFHOÈcOkFH`®»_Oy§GJFjZG1hk¢Q£u¤:hf{Z`W[`W[NhH{ZOVkK1[OcdlKj_y `®¤hH{7OeZFfGJI1FLKM `W[
VDGJj_[ChHFLK`ijZOzy>OpjZGJXZI1{[CGrKJ[hHGrVYG1MNeZXZhfOBKly3OkhfOkFHMN`ajZ`W[ChH`¡V[GJUaXZhH`aGJjdkhf{ZOkjOpÄ3OVDXZhLK^ZUiO
VDG~y3On`W[!eZFfG~y3X_VYOy¯¢
>ZFHG1M K5yZKhKS_G e_GJ`ij~hrG¤3`aOknd;ZeZFfG~VYO[f[O[rVYGJMgMXZj7`WVkKhHOlhH{7FHGJX7IJ{
[C`iI1j_KU¡[Ydl[COkOkj K1[[ObcXZOkj_VDO[G¤:h]~e_Oy§Kj_y hH`iMgOy©JKUiXZOz[Y¢At [M KUiUrj~XZM^_OkFG¤
OpUiOkMNOpj3hKFH]°eZFHG~VDO[H[CO[YdBKj_y©hH{ZOe_Gc[f[`i^7`iUi`ahC]hHGÈUi`ij7ÆhH{ZOkM `ij~hHGKj7OkhC!GJFfÆ;dKFfO
X[OyhfG^ZX7`iUWyUWKFHI1OkFAKeZeZUa`WVkKhH`aGJj_[DdÊX[`ij7IhH{7O{Z`iOpFLKFV|{7`WVkKU3eZFfG~VYO[f[l[hHFfX_VYhfXZFHO 467¢
Ç `ahH{Z`aj§hf{Z`W[¤FLKMNOk!G1FHƯdhH{ZOZ©eZFfGJIJFKMNMg`ijZIOkj~~`iFHG1jZMNOkj~h¤OzKhHX7FHO[NK
I1FLKeZ{Z`WVpKUÂd^7UiG~VLÆ3suy3`WKIJFKM GJFf`iOkj~hHOy©Oy~`ihHG1FkdBKUiUiGl`ajZI ¤G1FhfGJeZsuy3Glj K1[!OpUiUlK1[
^_G1hHhHG1MNsXZe°y3O[`aIJj 4 7u¢
( \Ì %_Ì3\Ì .BÐ:ZÉ
9lK1[`¡VG1e¿OpFLKhfGJF[`ij Zy3OY»_jZO5OkUaOkMNOkj~hLKFH]eZFHG~VDO[H[CO[Yd\OKJVL{G¤rl{Z`WVL{¦VYG1FHs
FfO[e_G1j_yZ[lhHGgKjOzbÊX_KhH`aGJj~hH{ZOk] KFHO21
"\JÐ'\Jhf{ZOk]:KFfOly3OY»jZOyG1jhH{ZOAhC]3e_O[G¤_hf{ZO!U¡KjZI1X_KI1O Oc¢I7¢idk^_GcGJUaOKjj7OkIcKs
hH`iG1jG¤ K[C`iI1j_KU #1*<13 ¢Jv!{ZOQ[`aIJj_KU
Ldcy~OY»_jZOy^~]hH{7Ol`ij_[ChLKj~hLKjZOkG1X_[
¤XZj_VYhf`iGJj`ij 1 8I 0
0 55 50
A`W[!lFf`ihHhfOkj 1
8 !*4
>X7j_VYhH`aGJj_KUOkÄ~eZFHO[f[`aGJj_[lKFHOMgGJjZG~VL{ZFHG1jZGJX[YdZMNOKjZ`ij7IhH{_Khxhf{ZO:[`iI1j_KU¡[
d
cdB¢i¢i¢adJ>*KFfO[HK`Wy©hHG^_O[C]3j_VL{ZFfGJjZG1X_[ 1hf{ZOk][{_KFHOhH{ZO [HKMgONVYUaG~V|Ư¢\£Âj
GJhH{7OkFhfOkFHM [Ydl{7Okj¨VYGJMNe7XZhH`ajZIhH{ZO°1KUiX7O¼G¤
dBKUaUQKFfOhLKÆcOkj¦l`ihf{
hH{ZOk`aF1KUaXZONKhnhH{_KhhH`aMNO ;hf{ZOkFfOY¤GJFfOhH{ZOk]ÈKFHOgKUaU/FfObcXZ`iFfOy¼hfG{_KkcOhH{7O
[HKMgOnVYUiG~VLƯ¢
Ñ\Ì .ÓJÍBr`ihlIJ`acO[hH{ZOne_K1[hl1KUaXZOG¤BK[C`iIJjKUÂdZI1OkjZOkFKUaUi]jZG1hHOy$
I
FEd~l`ihf{
`ijZ`ahH`WKU;1KUaXZO[$ I dZ¤GJF¾ 1"! 2 _`ij©ZÉ¿dc¤GJFhf{ZO:[`aMNeZUiO>VkKJ[CO
l{ZOkFHO-2 I JdZhf{Z`W[!`¡[!lFH`ihfhHOkj 1
# %$% l`ahH{`ijZ`ahH`¡KUi`aKhf`iG1j
# (*(+3 (&
ÅxOkUWKk]5`W[!MNG1jZG~VL{ZFHG1jZGJX_[lhHGcGg`¢O¢id)Kjy
#
N{_KkcOhf{ZO:[HKMNO:VYUiG~VLÆ;¢
cÐ(\Ñ"WÐ( .AkÌ .ÓÌ~JÐ'BlXZj_y3OpFHsu[HKMgeZUi`ajZIK°[`iI1j_KU$KJVpVYGJFy3`ijZIhfGÈK^_GcGJUiOzKj
VYGJj_y~`ihH`aGJj&`¡[!lFH`ihfhHOkj`ajZÉ 1
<.*&
v!{Z`W[GJe_OkFKhfGJF!`¡[e_GJUa]ZVL{ZFHG1jZGJX[ 1chH{ZOrGJe_OkFKj_y7[!Kjyhf{ZOxFfO[X7UihBy3GnjZG1h!{_KkcO
`Wy3Okj~hH`¡VkKU¯VYUaG~V|Ư¢ c`iI1j_KU
`W[!e7FHO[COkj3hA`ª¤Kj_y¼G1jZUi]5`ª¤HKj_y'&NKFfOeZFfO[Okj~hrKh
hH{ZOQ[HKMNOlhH`aMNOrKj_y(&{_KJ[BhH{ZOr1KUiX7O3 2 .7¢Jv!{~X_[Yd
`W[BKhBMNG[hAKJ[¤FHObcXZOkj~h
KJ[§Kj_y)`ij¦G1hH{ZOkF5hHOpFHM[`ah`W[jZG1jZsÂ[ChHFf`WVYhfUi]¦UiO[f[¤FHObcXZOkj~hhH{Kj§^_G1hH{
G¤QhH{ZOkM¢v!{7O¼`aj3hfOkFL[COVYhf`iGJjG¤QhH{ZO°VYUaG~V|Æ7[G¤K¦Kjy*& Ó`¢ÃOc¢idhf{ZO`ij_[ChLKj~hL[
l{ZOkjhH{7OOkÄ~eZFfO[H[C`iGJjÈVpKj^_OOpJKUiX_KhHOy l`ij_VDUiX_y3Oz[«hf{ZO5VYUiG~VLÆG¤
Ól{Z`¡V|{
¤OKhfXZFHO[GJj7Ui]nhH{ZOB`aj_[hKj~hL[l{ZOkj&xOk1KUiX_KhHO[hHG 3 )2<. L¢DÇ {ZOkj
`W[eZFHO[COkj~hkd
`ihL[!1KUiXZOn`W[!hf{_KhrG¤A¯¢