HAL Id: hal-00195373
https://hal.archives-ouvertes.fr/hal-00195373
Submitted on 10 Dec 2007
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.
perspectives for research
Janine Pierret
To cite this version:
Janine Pierret. The illness experience: State of knowledge and perspectives for research. Sociology of Health and Illness, Wiley, 2003, 25 (Silver anniversary issue), pp.4-22. �hal-00195373�
3 546
789&:<;=8>8@?A8B+CD8+;BC8FEHG>8BJIK98LMBIK89B8NLMO+9&:1GLMPB+IKGQ:1G
7#RS?'MDTVUWR*MDX6?EYT Z0[\ZMML&]^O+;_IN
`ba
dc5e8+;f:<C8Yg O&N<:ih&j/O+;k:18+;lB8+9:Wj;kmDL5;8&N8O+;BCnP9o:<C8YIKggK98NNl8+pq8+;I 89B8YCO&Nf:<C;I.e/8>$r
]jsgI BOQ:_IKP92NtPu9v:<CIWNwN<j2sx,8BQ:yO;8z;8{eI 8{|b8> IK9 ;8+g O{:<I}Pu9v:1Pv:<C~;88:<CD88N
N<jsx8B{:<I.eI:<m$ BPuqIK9OB{:<IKP9$N\O9>oNk:<;O:18+IK8N\<Pu;\fO9O2IK98+e8+;_m>O+mgI _8^O9>:<C8
N=P2BIKOg#Nk:<;kj/BQ:Wj;8&r WSi+V}fQ +,\CO&NBP9&:<;I.sj:18>NI.29I _I BO9&:1g.m:1P
:<CINl_I 8Jg >$rU_9HBP9Bg.jNIKP29DL5;8&N8O+;BCq8;N_q/8B{:1I.e8&NlO;8N<j8&Nk:18>d<Pu;f:1OB+gKIK9:<C8
q;PsgK8N6I9'qODN,NIK9W;P2 OfI B+;P¡:<PfO5fOB;P¢gK8+e/8g/Pu£O+9Og.m$N,IWNQr
¤*Q¥%f ( ¦IKggK98NN=Lo8+pq8+;I 89B8LN<j2sx,8B{:<I.eI:<mLo8+e/8+;_mD>O+m§gI _8LoBPuqIK9LN<:<;O{:18+I}8DN=LNPBIKO&g
N<:<;kj/B:Wj;8&r
fNN=8NNIK9 :<C8nO>DeuOJ9B8&NiO>8nI9 NBI 89&:1IKkI B;8N=8&O;B+C P9 O N1q8BI1IB N<j2sx,8B{:1LS9DOJi8gm :<C8
8Qpq8+;I 89B8 P2IgKgK98NQNdO9> C8Og:1CLINO q8+;IgKPjNo:1O&N_rj: >PIK9 :<CIWNY:<P B8gK8+s;O{:18n:<C8
:<CbO+99I.e/8+;NO;=mP2n WyW}§y fO+8N :<CD8 eu8J9:Wj;8y8{eu8J9§fP;8
CDO~O+;>PjNQr CD8¢|S;I:18;¡IWNSIK9ix8PuqO+;=>Dm P251OIg I9 :1P ;8+qP;W:ON\OBB{j;=O{:18g}m O&NAqP N,NI}s/g 8P9:<C8
|bP;_nOBBPSq2gKIWNC8>$r CDO{:fIKiO¦iO_xP;O;k:<I BJg 8|b8+;,8¦Pe8; g}P2P8> COQ:fIK¡:<C8 ;8+qP; :\|f8;8
qO;k:<IKOg IK9sP&:<CN=89$N8&N@P2 :<C8 |bP;>6P*h&jI8Q:Nkj/B+C|bPu;<;_IK8N=LO\q;P2B8>&j;8¡CDO>¢:1Plsu8¡<Pj9><Pu;
Ps:1OI9IK9iBP92NIWNk:189&:£;8&N<j$g:N,O9D>¢O9fO9Ogm:1IBOJg/W;O8{|bPu;1L<Pu;^P;_O+9IWNIK9b:<CD8r
` .¥ /! {%f " (* (
MIK9B8M:<;O{jN,N OJ9D>\gON8+;WN q2IKP988+;I9|bPu;_LIK9&:18+;8Nk: I9Nk:Wj/>mIK9:<C8f8OJ9IK9$N O9>
8Qpq8+;I 89B8\P2#BC~;Pu9I B¡I ggK98&NQN CO&N6;P|S9DL$8&N1q8&BI OgKgmIK95;I:1IWNCiBJIK;Bg 8&N r CIWN<I 8Jg >iP2 ;8N8O+;BC
CDON5;8B8I}e/8> N<j2s/Nk:1O+9:_I}OJg#;=8eI 8{|iN\IK9:<C8 f9I:18>!'I9>P"#¡9D>8+;N=Pu9 O9>j;=m$&%%~L'j;m
(L' IgKgI ON *)))+ O9>, f9I:18>YM:1O{:18N-_7 Pu9~;O>.&%/L?AP&:<C O+9> 7P9;O>.&%/L#7FCDO+;O0
*)))+
ruU19I:1IKOg0N<:Wj/>I8NP :<C8SIg g98NQN8+pq8+;I 89B8'8pDq2g}Pu;8>¢:<C8¡qO{:<I 89&:1WN32~Nkjsx8B{:_I.eI:<m4bOJ9D>¢:<C8
i8O9IK9N¦:<CDO{:IK9>I.e$I >&j/OgWNYO+e8n:1P :<C8I.; 8{pq8; I 89B8 P2IKggK98NN:<C;PjC :<C8 f8{:1OqCP;NL
BPu9I:1I.e8¡;=8+q;8&N=8J9:1O{:<IKP92N=L$O9>IiO+8&N6:<CO{:£:<C8+ml>8eu8gKPuq8>OJ:18;g 8O+;9IK9P2:<C8IK;BP9>I:_I}Pu9/r
#C8N8Nk:Wj/>IK8N Pu:189*B89&:<;8>*O+;1PDj9D>l:<CD8S9P:<IKPu9N Pu Nk:<I.iOL N=8J9$N=8fPuNCOi8fOJ9D>gKP$NN P2N8g r
5
Pu;\N8{e/8+;=OJg#m8O+;N9DPD|bL ;8&N=8O+;BC IK9:<CIWN\_I 8g> CDODN s889jNIK962Ig gK98DN,N\9O+;_;=O{:<I.e8N#4L#Ofq2C~;ON8
O;PDjN1IK9 Sj/BC >8+s/O{:18r7vN8BPu9D>nqP2IK9&:lPu<PB{jN*CO&N*s889 CP| Ig g98NQNjqN=8{:NqO{:1IK89&:N8
IK9:18+;OB{:1IKP92N\|fI:<CYq8;NP92NbBJg}P N=8 :1P :<CD8J O9>og 8O>$N :1PPu;1O+9INIK9o_OiIgm O9>oPBB{jqOQ:<IKPu9DO&g
OB{:<I.eI:_I 8&N O+;=PDj9D>¢I:,r+\gg:<CIWNCDODN£j N<j/OJg gmfs889S;Pjq8>¡j/9>8+; :<CD8¡g Osu8g$P2£BPqI9~OBQ:_IKP92N O9>
N<:<;O:18+IK8NQr+ :<CI.;><PBOg2qPI9:N1CPj$gK>¢su8A:<CD8¡IK9&:18+;=OB{:<IKP92N6s8{:W|b88+9S:<C8\IgKgK98DNQN 8{pDq$8; I}8J9DB8¡O9>
:<CD8¡NPB+IKOgNk:<;kj/B{:WjD;8LI.9SqO+;<:_IKBQj$g O+; :<CD88+k18B{:N Pu$:<C8g O{::18; P9S<P;f8+;Qr
\:18+;nCDOeIK9 BP92N<j$g:18>tiO_xP;|bPu;_$NHIK9 :<CIN <IW8gK>
O&N|b8ggON:<CD8 O+;k:<I}BJg 8N
qjsg IWNC8> IK9 :W|bP PgK>8+;'xPDj;19OgWN:9<;=+>,fWi+V} -? +*@ +>oO9>
+SBAn+ 9 :<C8fBP9&:<;I.sj:1IKPu9N5iO>8Ssm W¢i+W.iQ +,|f8+;,8
N=8g8B{:18>*Pu9f:<C8¡s/O&NIWN P2#:<C8I.;;8g 8euO9B8¡:1P:<C8S<P2gKgWP|SIK9~qP2IK9:Nu O+9KQ>DC\+> +/./
:<CDO{:<L$IK9gIK98¡|fI:<Cf:<C8Sq8+;N1q8B{:1I.e8SP2 :<CD8¡q8+;N=Pu9$N@>uI ;8B{:<g.m BPu9DB8+;98>, :<C8¡qOQ:_IK89:NP;q8+;N=Pu9N
BgKP$N8F:1P¡:<CD8J DqO;89&:NL$N_qPjN8NL8{:1Br LgK8O>2N#:1P8QpO+iI9IK9CDPD| :<C8&N=8 q8PqgK8 g I.e/8A|fI:_CfO9D>¢I9
N1q2I:18¦PSI ggK98NQNFE O +>Q ¦ K+Q:<CO{:bgKO&Nk:NigKP9H89PjCY:1Ps8BPuf8gIK18YI:N8gK9 :<CIkN
8QpBg.j/>8DN OBQj:18¡IKggK98NQN8N3W?I 8+; *)))+ :<CD8HG\/> JI$W KK@8=*EKLKK@\ 0M=+
#C8 <IK9OJgN=8Jg 8B{:<IKP9LgKI N<:18>oOfP29~Y:<CP$N8 IK9¦sI.s$g IKP2;OqCmLBPj9&:N*oO+;k:<IKBg 8&NbOJ9D>
;8+eI 8{|
8NNO+m/N#qj2sg IWNC8>¢IK9¡ *Wi+W.SQ +,r
?AO+mQPsgIK9(WN'8>I:1Pu;IKOgIK9¦:<CD8_I.;QNk:\I NQNkj/8*P2F 2 nW*W} Q +,IK9
j98 YIK9NI N<:18>YP9 :<C8¡x=PDj;_9DOg <NSIK9&:18+;19O{:1IKP9OgKLF\j$g:1IK>IWN,BJIKqgKI9O;=m IK9&:189&:1IKP92NQrEdP;8¢:<CO9
CDOgF:<CD8N8g 8B{:1IKP9P2qjsgI BO{:<IKP9$N\P9:<C8IKggK98NN\8+pq8; I 89B8BP2f8W;P2 ;8O{:7 ;I:1OIK9$#O9>
:<CD8 P&:<CD8+;NHW;P2 7O9O>O-#
L:<C8 f9I:18> M:1O{:18&N
L5jN<:<;O+gKI O-
L :<CD8 Ri8{:<CD8+;gO9D>2N
L
5 ;O9B8- LFUN1;O8+g L3A8Jg2I.j/ O+9D> M|b8>89 r ¡g:<CDPDjCdfP$Nk:bPu:<C8N8O+;k:<IKBg 8NiO+;8
N=P2BIKPgKP2I}B&OgKL#:<C8>IWNBIKq2g I98N'P2SN=P2BIKOgO9&:<C~;PqPugKPmoO9D>¦qjsgI BC8Og:<C O+;8 OgWNPYq;8N89&:\IK9
:<CI NYNOfqgIK9r CD8C&j/8nfO_xPu;I:<m P2:<C8N8qjsg IBO{:_I}Pu9N ;8+qP;W:*P9 :<CD8n8{pDq8+;I89DB&8HPu*O
N1q8BIK_I B IKggK98NN{S8+q2IKg 8+qN_mDL ¡gJC8Ii8+;8kNLS;_CD8{j$iO{:1IWNfLSqP2gKIKPLbC8O+;k: >IWN8ON=8LfBO9B8+;=L'['U
IK9_8B{:_I}Pu9DL¡8{:1B~r'8+;km <8+| O+;<:<IBg 8&N*<PB{j N Pu9:<CD8 2CD8Og:_C 8+pq8; I}8J9B84L\8eu89:<CPjCL5|fCIg 8
iO+IK9¢:<CD8¢N8g 8B{:1IKP9L2U#:1PPuS:<CD8A:18+;1 2C8OJg:_C/4SIK9*O e8+;_mis;PO> N=892N,8SNPO&N#:1PIK9Bg.j/>8 :<PqI B&N
N<j/BC ON i892Nk:<;<j/O{:<IKP9LSO{suPu;<:<IKPu9 O9> sD;8O&N<: k188>I9r¡g g¡:<C8N8dO+;k:<I}BJg 8N CDO+e8dOJ9 IK9$NI>8;WN
P;_IK89:1O{:<IKP92DOJ9D>¢fP$Nk:Pu$:<C8 O9OgKm$N,8>O{:1O5W;P N8iI_>I;=8B{:1I}eu8 IK9:18+;keI 8+|N r
¡I.eu8J9S:<CD8 ;8j$gKO; I:kmf|fI:<CS|fCI BCI:#CON6qjsgIWNC8>iO;k:<IKBg 8&N Pu^h&j/OJg I:<mP9S:<C8¡IKg g98NQN
8Qpq8+;I 89B8 I/ W\+V}iS,AP2BB{jqI 8&N O¡B89:<;O+gq2g OB8¡IK9S:<CIWN_I 8g >$rU:N Pj:Vqj:
BO+9 s8BP2'qO+;8>|fI:1C:<CDO{: P ;D=+>Wi+W. (? +*@ +>iO+9D> 0 +
An+r CD8&N8S:W|fP¡x=PDj;_9DOgNACO+e8L0NIK9B86
O+9>.*;8&N_q8B{:_I.eu8JgKmDL ;kj9 O;k:_I}BJg 8&NAI9
:<CD8Asu8COeI}PDj;Og N=BI89DB8NO+suPDj: NPB+IKOgKL2qN_mBCPgKPuIKBOg$O9D>¢sIKP2gKP2I BOg<O&BQ:<P;NIK9S:<C8\O8{:1IKP2gKPm
O9> >8+e8gKPq2i89&: PY>IN=8&ON8Lsj:|fI:<C O NgO9: :<P|fO;> h&j/O+9:<I:1O{:<I.e8 N<j;=eu8+m$NQr ¡g:1CPjC
i89&:1IKP9¡|fI gg2s/8iO>8¡P#O;k:<I BJg 8&N6<;P2 :<CD8DN=8F:W|fPiP&: C8+;xPj; 9DOgN IK9¢;=8Jg O{:1IKP9¡:1PB8+; :1OI9S:<CD8Ji8N
P;q8+;1IKP2>2N P#:<Ii8L$:<C8f<P2B{jN|bIg g s8fP9:<C8¡ WS+V}*,K+ kN BP9&:<;_I.s~j:_IKP9
Pe8;:<C85qONk: m8O+;N :P':<CI N0<I 8g>fP;8&N8O+;BCLWr
+) ! KK JD&*+
fN6O{: :18+9&:<I}Pu9¡|bO&N :Wj;19I9~S:1PD|bO+;>SBC;P9IKBIggK98&NQN=8&NL:<CIN6<I8g >fP2;8&N=8O+;BCf8i8+;_8>fIK9S;8OBQ:<IKP29
:P¢:<C8 ]^O+;,NP9IKO9O9>IK9&:18+;OB{:_I}Pu9IWNk: Oqq;P2OB+C8&N r¡j;IK9:<CD8 ) NO9> ) N=L N8+e8+;=OJg6NPBIKO&g
N=BI89:<IN<:NNPjC&:#: P B+gKO+;IKkm O9>s;=P2O>89]#O;NP9$N D0
BPu9DB8+q:1IKPu9*PIKggK98NN O9D>l:<CD8lNI B+
;=PugK8$A8+;_O9PeIB
L\Ogg OC8+;$L\8+;NP9 L\8+;_CO;>&: &
r5U19:<C8 &%
)
NL
N<:Wj/>IK8N\P9YIgKgK98NQNs8CO+eIKPj;5|i8+;8N<:_IKg g0s/8I9~oBP9>&j/B{:18>OgKP9 :<C8*gIK98&N'Pu:<C8&N=8BPu9DB8+q:N
¡gKP9+P &% sj::<C8+mf9DPD| : PPuiIK9&:1POBBPj9&:N1PB{I OgO9>i>8fPu;=O+q2CI B5e/O+;IKO+sg 8DN O&N#|b8ggON
:<CD8¡>8Q:18+;_fIK9OJ9:N Pu#IKggK98NN6s8CO{eIKPj; OJ9D>P9S:<C8\hDj/OgKI:<mP#gI _8O9D>>8+eIWN8>N=BOg8N=LNkj/BCiO&N
:<CD82NPBJI Og;8O>{x_j£Nk:<i89&:\;O:<IK9nN=BOg804L<P;ff8O&N<j$;IK9Ysu8JCO+eIKPj;Qr#U_9qO+;OgKg8gKL5N=P2BIKP2g}PuIKBOg
BO&N8SNk:Wj/>IK8N#|f8+;=8 s8IK9iO>8¡P#CP| q8Puqg}8¡gI.e/8>¢|fI:<CO9D>O>8¢N892N=8¡P#BP9>I:1IKP292N Nkj/BC
:Wjsu8+;B{j/gKP$NIWN6?AP&:<C
L¡qPgKIKP fO{eIWN
L¡eI NI.s/g 8n>uIWN=OsI gI:1I 8&N6 ¡Pk1O9
O+9>
>mIK9 #¡g}ODN=8+;*O9> M:<;O{jN,N
L:&%
r7#CI N NCI:IK9I:1I O{:18>n98Q| I9>&j/BQ:_I.e8oO9DOJgKm$N=8DN*<P;
bPueIK9 W;P2 :<C8fIK9>uI.e/I>&j/Og L IK9&:18+;=OB{:<IKP9Og#g8+eu8Jg:1Pl:<CD8¢IK9$Nk:<I:Wj:<IKPu9DOg#g8+e/8gWr£M2PBIKP2gKPmL#NPBIKO&g
O9&:<C;=PuqPgKPumDLq$N_mBCPgKPum O9>YqjsgI B C8Og:1Co<P N<:18+;8>N<:Wj/>IK8NfP25:<CD8 IgKgK98DNQNb8+pq8+;I 89B8LO
:PuqI}B ;=8OBJCIK9~ OB+;P$NNS:<CD8¦sPj9>2NlPubOBO>8I B>uI<NBIKq2gKIK98NQr5M:Wj/>I 8&NlPufgKP9 W:18+;zBC~;Pu9I B
BPu9D>uI:1IKP92N6CO+eu8BP2f8F:P¢q;=8{eOIgIK9¡:<CIWN6_I 8Jg >$r
fN\OxPDj;9DOJg P5i8>uI BOgNPBJI}P2gKPumI6 dW i+V}*QK+i8+euP2g.e8>I9
qO;Ogg 8g$|fI:1C¢:<CD8 ;=+>£WSW}&? Q*@+> OJ9D>¢¡ An+ JL
|'CI BCf>8Og:|fI:1CNIiIg O+; :<CD8Jb8DN#s~j: W;=P2 >uIK_18+;89::<CD8P;8 :<I}BOg$O+qq;=P2OBC8&N r 5 P;#I9Nk:1O+9B8LD:<CD8
i8O9IK9 PI ggK98NN|bO&N OJ9DOgm$N,8> |fI:1C ;8<8+;89B8 :<P BO{jN8N _7PP P&:1O{m &% O+9>
BPu9DB8+q:Wj/OgKIN=8>tsm>uIWN<:_IK9j/IWNCIK9su8{:W|b88+9§N8g O9> BP9&:18{p~:Wj/OJgoi8O9IK9 5 IK18 r
\9P:<C8;d8{pOfq2g 8 P>uIK_18+;89B8DNdIK9 :<CD8Pu;=8{:<IKBOg O+qq;POB+C8NdBO9 s/8 <Pu9D> IK9yNk:Wj/>I 8&NdP2
N<:<I.OQ:_IWNOQ:_IKP9$r\g.s;8BC&:@^ &%
b8O&Nkj;=8> :<C8¢q8;B8I.e8>YNPBIKOg6>uIWN<:1OJ9DB8¢s8Q:W|f889:<C8
N<:<I.OQ:_IWN8> 1>8{eI OJ9:N6O9>f>IN=O+sg8>
OJ9D>¢CD8Og:_C'q;Pu18&N,NIKP29OgWN#sj:^W;Pu P9gm':<C8gOQ::18+; WN#qPIK9&:
PSeI 8|lFs~j:¢:<CI NCDO> g I:W:1gK8¦:1P >P |'I:<C:<CD8I gKg98NN*8+pDq8+;I89DB8oO+qq;POB+C|bCIBC N88+$N:1P
j9D>8+;N<:1O+9>:<C8f8OJ9IK9 PuNk:1I.iO{:1OfO+9>:<C8I.; BP9$N8h&j/89DB8N5<P;qO :<IK89:N O+9>q8+;N=Pu9$N BgKP$N8
:P:<C8rU19nOoN_q8BIOgIWNQNkj/8 2 5
Pu;<:Wmmu8O+;NlP2fi8>uI BOgSN=P2BIKP2g}Pum4L;D=+>\WYW}H
3? +*@+> >8+euPD:18>dP98 qO+;O+;=O+qC:1PY:<C8IKggK98NNl8pDq8+;I 8J9DB86 ;P|S9
*
r
M:1O+;W:<I.9~|fI:_C:<C8O+;k:<IKBg 8NSsmo?APDsIK9$NP9
)+
O9> !'PuCg 8+;S?I 8&NQNiO9
)+
IK9dOYN_q8BI O&g
IWNQN<j/8o8>uI:18> sm \8+;CO+;>&: 2Aj/Og I:1O{:1I}eu8Y;8&N,8O;BC P9 B+C~;P9IBoIg gK98DN,N#4L5K¡$Y
AH+K sD;PO>8+98>I:N6q8+;N_q8B{:_I.eu8DN#smuL <P; 8{pOqgK8L;kj99IK9O+;k:<I}BJg 8N Pu9f9O+;1;O{:<I.e8\O9Ogm/NIkN
IK9q$N_muBJCDP N=P2BIKOg$;=8DN=8O+;BC SIK98+m*O9D> PjN<I8g > *(
LO+9&:<C~;PuqDPug}Pum EO{:W:<IK9gm*O9D>,#¡O;_;P
O9>NPB+IKP2g}PumWX30m
*)))
LDEB+U_9:1P N1CfO+9>¡EHB !'8$O98+m
*)))+
r
5
;=Pu I:N<Pj9>OQ:_IKP9dI9 L W +VQK+,N_CDPD|b8>nN_q8BI Og
IK9:18+;8&N<:*I9 h&j/8&Nk:1IKP9$N P2OY:<C8P;8{:<I}BOgfPu; BP9B8q:Wj/OJgiNP;::kKL\8+;_CDO+;>&: E O+9D> I9
h&j/OgKI:1O{:1I.e8nNk:Wj/>IK8&N IKgg ION$&% O9> E r]^PuIK9:18> PDj~:<P;¢:<C8o_I.;QN<:¢:<IKi8Ysm \I}ssuP29$N
&% ) * I9C8+;\;8{eI 8{| PF?A8+m9DP2g > N'O+9D> 5 O+;_s8;P| N=L F>Q+ >Q +*
+K/>Q ¡<>Q+>$V +L2:<C8SIKggK98&NQN@8+pq8+;I 89B8Sq8+;N1q8B{:1I.e8¡|fON0:<C89<Pu;¡j/g O{:18>O9>
BPu9DB8+q:Wj/OgKIN=8> sm j;=m &% r, CDO{:Yeu8+;_myNOi8 mu8O+;L An+
&%
O+9>LO <8{| bP29&:<CNog O{:18+;LiO+9 O;k:<IKBg 8 |fCD8J;=8 M&:18{|bO+;W:O+9D> Mjgg I.e/OJ9 &%
;O+IWN8>
h&j/8Nk:<IKP9$N OsuPDj: O+qqg.mIK9¢:<C8SNI B+;=P2gK8¡IK9BODN=8&N P26B+C~;Pu9I B\>uIWN=8&ON8\OJ9D>>;8Q| O{:W:18+9&:<I}Pu9S:1Pb:<CD8
I fqPu;W:1O+9B8Pu 98+P:<IKO{:1IKP92N\IK9YOg 8&NQN9DPu;fO{:1I.e8gm BP9&:<;1Pgg 8>YNI:Wj/OQ:_IKP96:<CD8q;8>IKO+9P$NIWN\Pu
Sj/g:1Iqg 8¡NBg 8+;P$NIN
r
j;_mDL¢CP|b8{e/8+;LNk:<PP> Pj: P|'I9~ : P CIN8fq2CDONI N :<CDO{: B+C;P9IKB Ig gK98DN,NYIWNO9
8Qpq8+;I 89B8 :<COQ: >uIN1;kjq:N :<CD8 qO{:1IK89&:1WN 8+e8;=mu>O+m gI18wO9> :<CD8 <P;N P2 9P|fgK8>$8
j9D>8+;_qIK992IK9*I:,r+Fj;<mO9DOJgKm$N,8>¢:<C~;88SON_q8B{:N@Pu |bCO{: ¡I}>>8J9N7 CO>BOg g8>O 2B+;I:1I BO&g
NI:Wj/O{:<IKP9+42 5 I.;QNk:1L2:<C8;8SIN:<C8f>I N1;kjq:<IKP9*Pu#:1O+8+9 __P;<;O+9&:18>O&N,Nkj/Sq:<IKP9$N O9>s8CO+eIKPj;N
:<CD8 s;8OBCI9 P BP2ffP29N89$N8 suPDj9D>2O+;IK8N r M8BP9>L¦:<C8;8yO+;8yfP;8 q;_P<Pj9>
>IN1;kjq:_I}Pu9NI9 8+pqgO9DO{:1Pu;<m N_m/Nk:18N 9DPu;fOggKm j N,8> sm q8PqgK8LNkj/BCn:<CO{: OWj$9D>OJi89&:1Og
;=8V:<CIK9~2IK9 P2S:<C8oq8+;N=Pu9 kNsIKPu;=O+q2Cm OJ9D> N=8Jg _BPu9DB8+q:iIWN*I9euP2g.e/8>$r CIK;>L5:<C8+;=8IWN:<C8
;=8&N_qP92N=8 :1Py>IWN_;<jq:<IKPu9 IK9eP2g.e/I9 :<C8 bPusIg I N,OQ:<IP9 Pu;8&N=PDj;B8&NL IK9y_OBJIK9 OJ9 Og:18+;8>
NI:Wj/O{:<IKP9+4 &% ' )+ r
Pu;12IK9*P9¢:<CIK;k:<m N=8INk:<;<j/B :Wj;8>I9:18+;keI 8{|N6|fI:1C;_C8Qj$iO{:1PIK>*O+;k:<C;I:<IWN qO{:_I}8J9:NL
j;_mdNPjC&: :<Po>IN,BPe8;SCP| O+9>¦|bC89 :<C8 kIK;N<:-2NIK92N 4 P2:<CIWNfCO+;>W:<P _>8 :18B : BPu9D>uI:<IKP29
|b8+;85;=8BP9IN=8>$r CDO{:|fON :<CD8bN<:1O{:WjN6P$:<C8IggK98&NQN 9 |bO&N6I: O 18g:^Pu;6>IKO+9P$N8>iBP9>I:_I}Pu9
[bP|y:<Po;8BPu9IN,8 OJ9oI gKg98N,NS|fI:<CoIK9&:18+;iI:W:18+9&:fN_mDfq:1PuN1[bPD|B8+;k:1OI9 Pu;\j9B8+;<:1OJIK9|fON
i8>I BOg29P|fgK8>$8F mS:<C&j£N6BP9B8+q:Wj/OgIWN,IK9>IWN8ON=8O&NN8+qO+;=O{:18 W;=Pu :<C8IK9>uI.eI >&jOg kNN=8g1L
j;_m BPDj/gK> IK9h&j/I;=8 IK9&:1P :<CD8n;8gOQ:<IKPu9 s8{:W|b88+9 BO{jN8&N O9> i8O9IK9NQrfN |b8 NCOg g N88
CDPD|b8{eu8+;Luj/9B8;k:1OI9:km¢OJ1_8BQ:N9P&:x<jNk:6f8>I BOJg/29DPD| kCP| sj:1L$IK9S:<C8SBO&N8SP6BC;P9IKBSIgKgK98NQNL
:<CD85qO{:<IK89&:1WN |fCDP2gK8gKI18 9 j9B8+;k:1O+IK9N_mfq:<P N=LD:<;=8+O{:<b8J9:N |fI:<C\j$9DB8+;k:1OIK9f8k18B{:N=LDj9DB8+;k:1OIK9
>&j;=O{:<IKP92NQrU_9;8g O{:<IKP9:1Pl:<CD8NPB+IKP _8BP9PfIBfBP9&:18Qp:1L j;km O9Ogm/N,8> CDPD| qO{:<IK89&:N fPsIgIWN,8
;=8&NPj;B8&N O+9>YiOIK9&:1OIK9Y9P;fOgOB{:1I.eI:1IK8N\O9>¦;=8Jg O+:<IKP92NCIKqN _W; I 89>$NL6<OJiIgKmL P2BBQjqO{:<IKP9$N
r
U19YBPu9DBJg.jNIKP9L0CD8 N<j$8&N<:18>N=88IK9oi8>IBIK982ONSO*B{j/g:Wj;OgN_m$Nk:18fL O&N¡suP&:<CYO9YIfqP;:1O9&:
;=8&NPj;B8¡:<P*q8Pqg 8I9:<IKi8DNAP>uIWN<:<;8&NNAO+9D>qOI9 OJ9D> O&NAOBP92N<:<;OIK9&:IK9:<C8I.;¡N=8O+;B+C <P;F:<CD8
>88+q8+;68OJ9IK9iP#8+pq8+;I 89B84&%
rc;_O+9IWN,8>fO+;=PDj9D>L2P9¡:<C8P98CO9D>LD:<CD8 I ggK98NN
BPu9:18{p: O+9>LdPu9w:<CD8 P&:<CD8+;LoI9:18+;OBQ:<IKPu9$N s/8{:W|b88+9 B{j/g:Wj;Ogn1OB{:1P;N O&N j9>8;Nk:PP2>wsm
q;=Pu<8&N,NIKP29DOJgWNiO9>og O+moq8+;N=Pu9NL0:<CIWNfW;Oi8{|fP;_oCDODNiN8+;_eu8>oO&NfO*;8_8+;=8J9DB8 iO+;_d<Pu;SiO9m
P&:<CD8+;Nk:Wj/>I}8&NQrRP98Q:<C8g 8&NN6gI:W:<g8BPu9NI>8;O{:<IKP9fCON s88J9'2I.e/89¡:<P¡:<CD8¡NPB+IKOgN<:<;kj/B{:WjD;8r
#C8 sPP Fj;<m 8>uI:18> OJg}P29z|fI:<C ¡9>8+;,NP9 ;8gKO{:18> :<CD8wB+C;=Pu9I BwIgKgK98NN
8Qpq8+;I 89B8 :1P 28+9eI;Pu9i89&:1Og BP9>I:1IKP29NL iO{:18+;IKOg ;8N=PDj;B8&N O+9D> :<CD8 >8O9D>2N Pu
BPu9:18+SqP;O+;_m B{j/g:Wj;8 O+9D> N=P2BI OgN<:<;kj/B :Wj;=84 9>8+;N=Pu9 O+9D> j;_m &%%/ r#C8:<C8f8N
8SqgKPumi89&:1L#I:N\8<_8B{:N Pu9 q8;NP9OgI >89&:1I:<I 8&NQ:<C8¢jN8P2:<C8C8OJg:_CoN_m$N<:18 ^O9>Yi8>I BO&g
;=8+2IKi892N rD C8*Ig gK98DN,NfBP9>I:1IKP9$N :<CDO{:5|b8+;8 Nk:Wj/>IK8>YIK9Bg.j/>8>@N<:<;_P8L ]^O+;1I9NP9N'>IWN,8O&N,8L
O;k:<C;_I:_IN=LC8O+;k: O{::1OBL>IKO+s8{:18NL8+qIKg 8+qN_mDL;8BQ:1OJg BO+9B8+;=L0;8+9DOJg1OIg.j;8*OJ9D>¦qNP;_I O&NIWNQrD6C8&N,8
:<CD8f8NOJ9D> IgKgK98NQN8&N |bPj$gK> gI 8 O{::<CD8 B89&:<;8nP*:<C8 Nk:Wj/>IK8N;8+qP;:18> IK9 :<C8nqO+8NP2
*W +V}fQKK+Jr
¡I.eu8J9:<CDO{: 2i8O9I9~ O9D>BP9&:18Qp: I9*BC~;Pu9I BSIg gK98&NQNBO99DPD: 8ONIgKms/8N8+qO+;=O{:18>+4L
j;_m (~ :<;_IK8> :1PYj;k:<C8;S>8{e/8gKPqoCIWNSW;,Oi8{|fP;_r 5 Pu;\CIKfL :<C8NPBJI}OJg@BPu9:18+p:\P
BC;P9I B Ig gK98&NQN BP;_;8&N1qPu9D>8> : P CD8Og:1C qP2gKIB+m O9> :<C8w;Pg8N q2g O+m8>vsm qO{:1IK89&:N8
ONNPBIKO{:1IKP9$NL6BPu9Nkj/i8+;INbLBCO+;I:1I 8&N\O9> :<C88>uI OL |fCI BCL0<P;\BgO; I:km NfNO8L USNCDOggBOgWg
:<CD8 2N=P2BIKOgN<:<;kj/B{:Wj;84Dr&Fj;<m (~ >uI Nk:1I9~j$I<N_C8>su8{:W|f88+9 :W|bPYNP;:N Pi8O9I9£2+U9
:<CD8¦<IK;Nk:'q2g}O&B8L@:<CD8i8O9IK9(AP2SIg gK98&NQNg I 8DNiIK9nI:NfQ0M=+J <P;b:<CD8¦IK9>I}e/I >&j/Og
M8BPu9D>L :<C8ff8O9IK9 PBC;=Pu9I B¢IKg g98N,N5iO+ms/8N=8&89IK9:18+;N P2I:NQ$ +r5m:<CIWNU
i8O9 :<CDO{: >uIK<_8;89&: BP9>I:<IKP9$NdBO+;_;_m |fI:1C :<C8 >IKk18+;89:oBPu9~9P:1O :<IKP92NOJ9D> IKiO8+;_m4r
5 j;k:<C8+;fP;8L$CD8¡q;PqP$N8>fO+IK9*O¢Bg 8O+;@>uIWNk:1IK9B{:1I Pu9fs8{:W|b889¢:<C~;88SBPu9DB8+q:NP:189O+qqgI 8>
IK9:18+;BCO98OsgKm:1P B+C~;Pu9I}B¢Ig gK98DN,N8N2BPuqIK94f;88+;,N:<P BP9I:_I.e8Sq;PB8&N,N,8&NQ2N<:<;O :18m4L$:<P
:<CD8oOB{:1IKP92Nq/8Pqg8¦:1O8&\O9> 2Nk:<mg 84L5:1P:<C8¦|bO+m q$8Puqg 8Y;8&N1qPu9D>$r I ggI ON
*)))+
CO&N
>IN,B{jN,N,8>¢:<C8N8SIK>8O&NLO+9D> MOJ9D>8+;N 1r&
*))++
CDO{e8¡;=8B89&:1g.mqj:#:<CD8 :<PjN8¡IK9l8J'q2IK;I BO&g
;=8&N8O;BC$r&\g:1CPjC eu8+;_m 18{|yN=P2BIKOgN=BJI 89&:1IN<:N5CDOeu8 N<:<;_IKB{:1g.m O>uCD8+;8>:1P:j;km N:18+;fIK9P2g}PumDL
CIWN W;O8+|bPu;1¢|'Ig g2q;=PDeI >85:<C8\PDj~:<gIK98¡<P;6q;8&N89&:<IK9SmlBP2fi89&:N Pu9iO+;W:<IKBg 8NIK9S:<CI N kI 8gW>
P;8&N=8O+;BC$r
a
}-/
¥i !
KK,+
#C8*I.;_;kjq:<IKP9PuAO9YIgKgK98NQNSgK8O> N\qO{:<I 89&:N'O+9D> :<CDP2N8*BJg}P N=8l: P :<C8y:<PoO&N1oh&j/8&N<:<IKP92N'O+sPj:
|'COQ:fIWNCDO+qq89I9HO9>Y:1PnBOgKgIK9nh&j/8&N<:_I}Pu9dP;>I9O;=m8+pqgO9DO{:_I}Pu9$N r3#CI NiIK9eP2g.e/8NiIiO+8&N=L
i8{:1OqCP;N OJ9D>P:<C8+; I9:18+;_q;8Q:1O :<I.e8\>8+eI B&8N3
5
;=OJ9~$89s8+;_ &%
r#CIWNh&j/8Nk:6<P;f8O9IK9 9
Cm 8 Cm9P| F9 CO&N s889*qj;Nkj 8> IK9YNk:Wj/>IK8NP0:<CD8 NIK29I _I BO9B8iP2Ig g98NQNO9> IWN
B8+9&:<;Og#:<PYIK9h&j/I.;I 8NSIK9&:1P :<C8Ig gK98DN,N'8pDq8+;I 8J9DB8I:N,8gKrD#C8BPu9N8h&j/89B8DN'PIKggK98NN'Pu9oN=8JgW
O9>¦I >89&:1I:WmDL6Pu9:<CD8 g}P N,N\PuN=8JgKAPu;APu BP9&:<;1Pug}L0P9sIKP;O+qCI BOg6>uIWN_;<jq:_IKP9L6O+9D>¦P9IK>8J9:<I:<m
O9>q8+;QN=Pu9DOJg69O;_;O{:<I.e8NAO+;8S:1P su8O+9DOgm$N,8>$r CIWNI 9h&j/I;_mIK9:1P b8&O9IK9>P8&N 9P:1L CP|f8{eu8+;L
suO+;S;8<8+;=8J9DB8N¡:1P :<C8 >IWNBPj;N8 Pu\f8>I B&Ogq;=P2<8&NQNIKP9OgN r#U_9o<OB{:1Lq8+;N1Pu9DOgOBBPj9&:NfiOm
|b8gKg0IK9BP;_qP;O{:18¡:<CD8gKO{:W:18+;1L#O&NIKgg.jN<:<;O{:18> sm:<CD8 2N_:<P;km*89;=84¢:<CDO{:|bPuf89*q;PeI>8> O+sPj:
:<CD8I.;¡b8J9$N<:<;kj/O{:<I.9~¦suP2>IK8N\O9>|fCD8+;8IK9 2804L :<C8 2>PB{:<P;#4*O+9D> 29O{:Wj;84|f8+;=88m kIKj;8N
5;=O+92N=8J9
r
/KG\f¢,GS E+>5 L/=E } /K+/
U19&:18+;_q;=8 :1O:<IKP9$NP:<C8i8O9IK9T_NIK29I _I BO9B8P BPIK9>P|S9|fI:1CO9 Ig gK98&NQNCO+eu8>&|f8gg 8>
P9:<C8S9DPD:<IKP9$N P5NCOi8O9> Nk:1I.iOr2U_9 CINsPP;8{eI 8{| P2 MBC98I >8+; OJ9D> 7Pu9~;O> &%
L
Igg I OJN &%*E 8JfqCO&NIWN,8>¡:<CDO{:#I:^BPf8N6O&N 9PNkj;_q;_IWN=8F:<CO{:6NPBIKPgKPuIWNk:N6IK9&:18+;=8&Nk:18>SIK9S:<C8
N=P2BIKOg\BP92N<:<;kj/B{:<IKP9HPufi8O9IK9 CDO+e/8Y>&|b8Jg g 8>nP9 Nk:<I.iO{:1IN,8>nIKggK98NN,8&N*Nkj BCnO&Nl8+qIg 8+qN_m/r
bI<18+;I9S|fI:_C¡:<CD8¡Nk:1O+9D>2O;>SqPuIK9&:^PeI 8{|bLD|bCIBCN,88&N :<C85qjsgI BWN0IK9P;O+9DB8O+sPj:#8qIg 8+qNm
ON:<C8fBO{jN=8¢PI:N 98O{:_I.eu8¢O9D>>IWNB+;IiIK9O{:1P;km*OQ:W:WI:Wj/>8¡:1P|fOQ;>q8+;N1Pu9NNkj/k18+;IK9 W;P2 :<CIWN
BPu9D>uI:1IKP9LMBOSsg 8+;O9>[fPqIK9$N-&% ;8Q|'P;_8>:<C8IK>8OiP25N<:_I.iO N=P¦ON:<P fO+8I:
q8;k:<IK989&:*:<P :<C8I.;dNk:Wj/>m P2 g IK_8n|fI:1C 8+q2I g 8+qN_m 2QX9DOB{:18> Nk:1I.On;818+;N :1P IK9$N<:1O+9B8NP2
>IN,B+;IKIK9O{:1IKP9 O+OIK9$Nk: q8PuqgK8v|fI:1C 8+qIg 8+qN_m P9 :<C8 ;Pj9>2N Pt:<CD8JI;zq8+;B8JI.e/8>
j9DOBB8+q:1O{sI gKI:km P;IK918+;IKP; I:km 5 8g: Nk:1I.Oo;8<8+;N*q;IK9BI.q$OgKgm :1Pn:<C8o<8O+; Pul8J9OB{:18>
N<:<I.OLDs~j:#OgN=P8+9DBP2SqON,N8N6O<88gIK9iPu#NCOi8O&NQN=P2BIKO{:18>'|'I:<C Ks8IK98q2I g8q:_IKBJ4r
MCOi8¢|bODN B89&:<;Og :1P¦IK9:18+;_q;8:<IK9 :<C8i8O9I9s/P&:<CP@]^O+;12IK9$NP9<N\>uIWN=8ON8L6O&N
qOQ:<IK89&:NS:18+9D>8> :1Po|SI:<CD>;O{| W;P2w:<CD8 2qj2sg IB>PiOJIK94 RIxCP2
L5O9D>P j/9&|¢OJ9:18>
q;=8+9O9BI 8NL68+pq8+;IK89B8>ON\O;O;88+e89&:AOBBP2Sq/O+9I 8> sm18&8gKIK9N P25g OB+P2 BP9&:<;=Pug6O9>
g}P NQN Pu N<:1O{:WjN6 [bO+;>89 O+9D> c >89 r U19 OgKgBO&N8&N=L¡:<C8.2>uIWN,B+;=8>uI: 4 8{pq/8+;IK89B8> sm
qOQ:<IK89&:N euO+;I8N6>8q8J9D>uIK9iP9¡:<C8 2>uIWN,B+;=8>uI:1Pu;#4JL2O&N|b8JgKg/ON :<C8BI.;BQj$Nk:1O9B8&N6O9>fIK9&:189$NI:<mfP2
:<CD8 2>IWNB+;=8>uI: 4 _7FCDO+;O,&%
r 'IWNB+;=8>uI: ;=8OB+CD8DN#su8mDP29D>¡:<C85qO{:<I 89&:^O+9D>bCDON#;8+q8+;=B{jNNIKP92N
P9BO+;8kI.e8+;,N5IK9:<C8S1OIgKm*O9>*8+e89P9*P:<C8+;<OI gm*i8bs/8;NQr*0CD8lN<:<I.O¡|bONsP;_98¡sm
i89 ON|b8ggfO&Ni|fP2i89 IK9 IK9_8;k:_IKg 8dBPDjqg 8&N:# ;,8IKg¡J'1r &%/
O9> smH:_CD8YqO+;89&:N _IK9
qO;k:<IKB{j/g O+;LfPD:<CD8+;N
Pu£O{j:<IN<:_I}BBJCI g >;89#;O+m
r
@+> E +>Q+ .+i/KS=/
5j/O+9:_I:1OQ:<I}eu8O9> h&j/OJg I:1O{:1I.e8Nk:Wj/>IK8&NACO+e/89P&:6:1O+8+9NPBIOg6O9> >8JbPu;Oq2CI B¢eO; I O+sg 8&NIK9&:1P
OBBPj9&:IK9 gKIK$8bOJ99D8+;Qr5j/O9&:<I:1O{:<I.eu8 Nk:Wj/>IK8NiO+mjN=8 N<j/BJC*eO+;IKO+sg 8NF:1P*PDs~:1O+IK9 O 2NOfqg804
W|SCD8{:<C8+;#;=8+q;8&N=8J9:1O{:<I.e8\Pu; suO&N8>P9Sq;8>8_IK98>fh&j P&:1O&N P$:<C85qPqj$gKOQ:_IKP9¡:1PSs8¡Nk:Wj/>IK8>$O9>
:<CD8&N8eO; I O+sg 8N\O+;8jN8>L |fCD8J9O9OgKm$NIK9o>O{:1OL^:P N<:<;O{:<IKWm;8N_qP9>89&:N Pu;\fO+8g}PugIK98O+;
bP2>8gWNQrU 9*h&j/Og I:1O{:1I}eu8 N<j;=eu8+m$NLq8+;N=Pu9$N iOm*s8f;8B+;kj/I:18>jNIK9B+;I:18; I}O<Pu; 8+9$N<j; IK9~YNPBIKOg
>I.e8+;,NI:km/O9>¡:<C85;=8&Nkj/g:N#iO+mSs8IK9&:18+;1q;8{:18>¡smbBPufqO+;IK9S:W|'PfP;:<C;=88¡NkjsD;PDjq$N r
5j/OgI:1O{:_I.eu8¡Nk:Wj/>IK8N#CO+e/8I9DB+;8ONIK9S:1O+8+9fIK9&:1PfOBBP&j9&:6NPB+IKOg2euO+;IO+sg 8&N rJEPu;8O9>
bPu;8P:<C8 8+p/O¢IK98CP| :<CD8qO{:<IK89&:1WN\O+8L#8+9D>8+;\O9>YNPBIKOgBg O&NQN\O<_8BQ:F:<CD8i8O9I9
I.e89 :1PYIKggK98NN'O9>YI:NSBPu9$N=8h&j/89B8&NQr M2IK9B8,g O+p:18+;SO9> ]^O:18+;N=Pu9 &% L^:<CD8 898+;OQ:_IKP9
8<_8B{: P9 :<CD8¢;8g O{:<IKP9$N5s8Q:W|f889|fPf89O9> C8Og:1C Pu;IKggK98NNACO+e/8¢s889|b8gg6>PB{j/f89&:18>$r
7CO+;gK8NiO9>. Og:18+;N &%
CO+e/8¦g OI >8fqCONIWN*Pu9Y:<CD8 8J9D8+;O{:1IKP9euO+;I Osg 8YIK9o|fP2b8J9WN
CD8Og:1C*8pDq8+;I 8J9DB8NQr*8¢O9D> N=P2BIKOg#Bg O&NQNCO+e8¡su8&89jN=8>l:1PIK9&:18+;1q;8{: :<CD8Nk:<;1Pu8f8{pDq8+;IK89B8
9 <P;8+gK>8+;g.mq8+;,NP9$N0|'CPCO>O¡CO;> gKIK18L'2Uk:1WN 9P&: NPsO>£O+9>N<:<;P8¡INO\9P; bOJg£B+;IWNIWN#4
W]£PDj9D>Su_r&% r ;W:<C;I:1IKB¡N_mfq:1PuiN |f8;8O 29P;_fOgJ4\OJ9D>¢j/ggq/O+;k:£P$sIKP;O+qCI8N0IK9fPg>
O8 MO+9>8;N S_r *))+ r\Pj9 q8PqgK8|fCDP |b8+;8oj9>8+;_PI9~ BC8g O{:_I}Pu9 :<C8+;Oqum <Pu;
:<CDOgKONNO8JiI O¦iO_xPu;fIK9&:18;_q;8{:18>¦:<CD8I.;¡:<;8OQ:<f89&:'>I<18+;89&:1g.mHO&NiO j/9B{:1IKP9oP2:<C8I.;iO+8O9>
8Q:<C9I B;Pjq 5:<I9O9>6¡CiO> *)))+ r5m*:1O+IK9YIK9&:1POBBPDj9:O8L 89>8+;L6BgKO&NQN=L08{:<C~9IWB
;=PDjq O+9D> N=P2BIKOglBPu9:18{p:1LffIK>>ug 8:18+;NCO+e8 B;Pqq8> jq <Pu;8{pDq2gKOIK9I9 :<C8n;8gKOQ:_IKP9$N
su8{:W|b889i8O9IK9$NO9D>BPu9N8h&j/89B8NLNIK9B8¡IKggK98NN@>P28&N69DPD: O+g|bOm/Ng 8O>b:1POgKP$NN PN8g6P;
OFsI}Pu;OqCIBOg>IN1;kjq:1IKPu9 _7CO+;iO,&% L+Fj;_m &% r
5
P;fqO :<I}8J9:N :<C8 mDPDj9~nIK9oq$O+;<:<IKB{j/gO;
L5fOIK9&:1OIK92I 9ni8O9IK9HPu;f<I9>IK9nO 9D8|
i8O9IK9o<P; :<CD8JI;S>IWN_;kjq:18>YgKI.e/8NSIK9ePg}e/8N :<CD8 h&j 8&Nk: :<Po8&NW:1O{sgKIWNCoBP9&:1IK9&j/I:<moON :<CD8+mog 8O+;_9
CDPD| :<P BPuq8 |'I:<C :<C8 IKggK98NNnsm£;8>8<I9IK9 :<C8 N,8gK1L ;=8BP92Nk:<;<j/B{:<I.9ysIKP;O+qCI 8DN Pu;
;=8+98+P:<IKO{:1IK9*IK>89&:1I:1IK8N7EO{:<CI 8&NP9O9> M:1O+ + r+HC89¢:<CD8¡qO{:1IK89&:1WNBP9>I:1IKP9¢|bPu;N=8+9$N
O9> :<CD8lsuP2>m s/8O;N\fPu;=8O9>fP;8 iO+;1$N1O&N\I9dO>&eO9B8>BO9B8+;\P;\I9DBP9&:1I9D89B8IK9P2gK>
O8
L:<C8FsP>mWN2sPj9>8>u9D8&NQN#4\IWN689OB8>$r
5
P; O{|\:<P9&%
L&:<CIWN68+pq8; I 89B8P2(2+suP2>IK8N
|bI:<CPj:SsPj9>O; I}8&N 4og 8O>$NqO{:1IK89&:Nf:1P OYgKP$NNlP2N8gKO9>nO_18B{:Nf:<C8I.; N=89$N8YP¢I >89&:1I:<m/r
2,RiPu;fOgIWN=O{:_I}Pu9/4L2O\<Pu; P2^BPuqIK9i<Pu;(j;_mDL$89&:1OIKgkN68I:1C8+;6OB{:_IK9~O&N I#I ggK98NN CO&N 9PIKfqOB{:
O9>:<C&jNqj:W:<IK9~YI: s8{:W|b88+9 qO;89&:<C8N=8&NL6Pu;\8gN=8 I 9&:18+;=O{:<IK9YI:IK9&:1PP98+WN\gI18r¡9mI ggK98NN
:<CDO{:iN8{eu8+;8gmHCO9>I BO+qNS:<C8 q8+;N=Pu9dP;I NCIKCgmdeI NI.s/g 8YBO9os8BPf8YOYNPj;B8P :189$NIKP29
su8{:W|b889¡:<C85q8+;,NP9WN#q;I}euO{:18¡N8gK#O9D>bqjsg I B¡NPBJI}OJg/I>89:_I:<m !'8ggm
r
#C8¡g IK9O+8¡s8{:W|b88+9i8O9IK9$NO9>iBP9$N8h&j/89B8DN ;8h&j/I.;8&N j;<:<C8+;Nk:Wj/>m*NPO&N#:1P
:1O8nP&:<C8+;<OBQ:1Pu;NIK9:<P OBB+Pj9&: 5:<IfIK9 OJ9D> BPu9:18{p~:<Lf9P;_NO9> 8{pq/8B{:1OQ:<IKPu9NLiO+9> :<C8
28fP:_IKP9Og gm 8+pq;8N,NI}e/8SsP>Dm/4 5 ;8{j/9> ) L'!'8ggKm OJ9D> 5 I 8Jg > L' Ig gKION *)))+ r#C8
BPuSqg 8+pI:kmlP2:<CIWNgIK9O+8\BO9¢s/8SN88J9iIK9¢:<C8'BO&N8fP#IKg8P N<:1PuSmDLOJ9iIKggK98NN5N=PN8+;IKPjN#:<CO{:^I:
O<_8B{:18>Y:<C8 qO{:<IK89&:1WN 2+q;I.e/O{:18YN8gK 4smnbP2>IKkmIK92o:<C8O{|bO+;8+9D8NNiP2SCIWN<T<C8+;fsP>Dm !f8gKgm
r&9P:<C8;58QpOfq2g 8fP2#:<CI N BP2Sqg8+pI:<m CON:<P*>P |'I:<C|fCOQ:BPjgK>bPu;8fO+qq;=Puq;_I}O{:18gm
su8BOg g8> OC8Og:1C:<CO9 O9 Ig g98NQN8+pq8; I}8J9B8r$Uk:@B+P;k;=8&N_qP9>2N:<POS;O:<C8+;ABPuffP9¦NI:Wj/OQ:<IKP29
qO;k:<IKB{j/g O+;L ;8gKO{:18> :<P|'Pf89 |bPu;12IK9CDOeu8b:<CDPu;PjCgKmBCDOJ9~8>L sj::<CD8>8+;88PBCO98
>8q8+9>$NfP9Y:<C8YNPBIKOg;PDjqr 5 P;N=Puf8 fP:<C8;NLs;8ON<: k<88>IK9LFBPu9_IK98>dO&NiI:'I N\:1P :<CD8
q;I.eOQ:18¢>PfOIK9*P2#:<C8¢CDPDjN=8+CPgK>L CO&Ns8BP2i8fO¢>IWN_;kjq:18>L>IWN=BPu99D8B{:18>*8{pDq$8+;IK89B8¡|fI:<C O
g}P NQN6P#N8g MBCI 8>fO+9D> #jq:1Pu9
*)) r
3> +G >Q 2=/. f >1>/@+
?A8&N=8O+;BC*P9g Om*q8+;NP92N su8Jg I 8JNAOJ9D>8+pDq2g O9O{:1IKP9$NO9>*Pu9:<C8f8OJ9IK9$NAPu IggK98NN:1P:<C8
CDONFsu889sO&N,8>P9:<C8 2N<:<P;_IK8N#4iP; OBBPj9&:N BPgg 8B{:18>*>&j;_IK9IK9&:18;keI 8{|NQr]£;Pug}Pu9~2IK9|fP;_
P9 2IgKgK98DNQNbO>Qxkj N<:_b8J9:46 ?AO>gK8+mdO9> ;889 &%/ L0?O>gK8+m$&%/ LO¦N=P2BIKOgFq$N_muBCP2gKPINk:1L
jN=8>:<C8¢9DPD:<I}Pu9*P2Nk:<mg 8S:1P ;8<8+;:1Pl:<CD8¢<P; iNP;qO{: :18+;_92N IK9 :<CD8I.;OBBPDj9:N O+sPj:CDPD| :<C8m
BPuq8 |'I:<ClBJC~;P9IKBSIggK98&NQN r+ CIg 8S>IWNB{j£NNIK9q;I.e/O{:<8SO9>qjsgI BSOBBPDj9:NL2?AO>ug}8m O9> I gKgI
NW:1O :18>L2{]^8PqgK8j N=8C8OJg:_Cs8gI 8 N:1PO8l:<CD8JN,8g.e/8&N'OBBPj9&:1O{sg 8*Y.>Q
O9>Y:<PdO+;k:<IKB{j/g O{:180+>l}>,:<C8IK;fP|S9oqP$NI:1IKP9oI9o:<C8|fP;gK>$r46¡I.e/89¦:<C8h&j/I:18qO+;<:_IKBQj$g O+;
BPu9:18{p:1L&2P&:<C8;N#4\;8<8+;_;8>L2C8+;8L:<Pb:<CD8bN=P2BIKOg#NBI 89:<INk: BP9>&j/B{:<IK9:<CD8¡IK9&:18+;_eI 8{|lr#C8 |fCDPug 8
N=8{:iPiBPu9D>uI:_IKP92N|fCD8+;8IK9 IK9&:18;keI 8|iN:1O+8YqgKOB8 9 :<CD8Y;8&N=8O+;BCnq;P;O+<_<P;*8{pOfqg8L
|'C8Q:<C8+;APu; 9P&: I: IN5qO;k:POf8>uI BOg q;P:<PB+Pg
L I:NPsx8B{:1I.e8NL:<CD8IK9&:18+;keI}8{|yI:N=8g1L#8{:1Br9
SjN<:5s88+q:AI9IK9> |bCIg 8O9DOJgKm$NIK9YqOQ:_IK89:N OBBPj9&:N r['PD|b8{eu8+;¢N<:Wj/>IK8N\COeu8<PB{jN8>
bPu;8*P9 :<CD8 29O+;1;O{:<I.e/8&N#4:<C8N8g.e/8DN:<CDOJ9P9¦:<CD8 BP9>I:_I}Pu9$Nj/9>8+;gmDIK9Y:<C8;8&N,8O+;=BJCO9>
:<CD8I.;0IKfqOB{:^P9 :<CD8F:Wm~q8Pu£OBBPDj9: j;9IWNC8>bsm\:<C85qO{:<IK89&:,r
]^8PqgK8 Nfs8g I8NiO+sPj:5:<C8BOQjN8NiPu:<C8I.;iO<_gI B{:1I Pu9N<I:fIK9&:1PHO BPSq;8+C892NI.e/8
q;=P2B8NN*P29O+;1;O{:<I.e/8Y;8BP92N<:<;kj/B:<IKPu9/4IK9 2O9 O{: :18{fq:S:Pn;8BP92N<:<I:Wj:18oO+9>n;8qO+I.;;kjq:Wj;8N
su8{:W|b889bsuP2>mDL N=8g1LOJ9D>¡|fP;gK>bsmigIK9IK9bjqiO9>fIK9u:18+;1q;8:<IK9i>uI _18+;89&:^O&N1q8B{:N6PsIKP;O+qCm
IK9 Pu;>8;5:<P¦;=8O+gKIK29q;8&N=89&:\O9>¦qONk:\O9>N=8g5|bI:_CdNPB+IK8{:<m/4 I ggKI O N &%^
rMI.9B8
Igg I OJN=L :<CIWN :<CD88*CO&N'P2:18+9CO>8BCP8&NLIK9qO;k:<IKB{j/g O+;SOfP9 O9&:<C;=PuqPgKP2IN<:NB Nkj/B+CON
!'g 8I9iO9 &%% O9>Yq$N_muBCP2gKPINk:N Nkj/BCoONSEdINCg 8+; &% oOJ9D>¦?AO>ug 8+mdO9D> Ig gIK r
b8&N1q2I:18*I:NSeO+;IKPjNSi8O9IK9$NW[Sm>G9
L :<C829O+;_;=O{:_I.eu84 CO&NbOBh&j/I.;,8>YO8+mqgOB&8*I9
N<:Wj/>IK8NfP5:<C8 IKggK98NNb8pDq8+;I 8J9DB8r
5
Pu;iN_Pf8LI:\;8+18+;N\:1PY;8BPu9Nk:<;kj/B:<IK9dO gIK18YNk:<P;km O9>oO
N=892N8\P26N8g _7CO+;iO &% <Pu; P&:<C8;NL$h&j/8Nk:<IKP9$N Pu#I >89&:1I:<mNCPj$g}>9P| s8SNkjsP;>IK9O{:18>
:P¢:<C8SBPu9DB8+q:6P6O29O;_;O{:<I.e804WEdO{:<CI 8&N=Pu9lOJ9D> M:1OJ r* CD8 29O+;_;=O{:<I.e804¡|bO&NOgWNPjN8>
:Po8{pqgKOIK9oO BPugKg 8B{:<I.e/88+pq8; I 89B8 eI Ol:<CD8 OBBPj9:N\q;_PeIK>8>¦sm IK9>uI.e/I>&j/OgWNB_75O;_;IKBO+sj;kj
O9>¡]#I 8+;_;=8{:7
r
j;_m iO>8b:<CIWN\BPu9WjN8>>8+sOQ:18Bg 8O+;8+;5sm >I N<:_IK9j$I NCI9s8{:W|b88+9*:<C;88<P;N
1OB{:1P;N:<CDO{:IK9_g.j/89B8S:<C8P92N8Q: Pu@>uIWNP;>8+;=L I:NA8+i8+;_IK9YN_mfq:1PuiNL#O9> I:,NIKi8>uI O{:18iPu;
Kq;PpIKOQ:18+8_18B{:N Pu9 :<C8sP>mLN8gKO9> P:<C8+;,N#4 j;_m *)) ~ &% rfMj/B+C BP9&:1I9~89&:
9DO+;_;OQ:<I}e/8N 9 P; 2IKggK98&NQNlO&N9DO+;_;OQ:_I.e84 [Smu>G9 9 :18+gKgCP| qO{:<IK89&:NlO9>:<CDP N=8
BgKP$N8S:<P :<CD8yCO+e8f;8B+P98> |fI:<C :<CD8IggK98&NQN8kN\N_m¢q:1PNAO9> BP9$N8h&j/8J9DB8NQr&j;_m
*))
~
(
CON;=8J<8;_;8> :<P :<C~IWNnON:<CD8 q;=OB{:<IKBOgO9D>y8JbPD:<IKP9Og BP9$N8h&j/89B8DNHPoiOJ9DO+I9
N_mDfq:1PuNIK9 8eu8+;_m>O+mgKI18r2 0C8bPu;Og#9DO+;_;O{:1I.e8fI9:<;P>&j/B8&NAO+9 8+euOJg.j/O{:1I.e8i>uI 89NIKP29 IK9&:1P
:<CD8SgIK9~Nsu8{:W|f88+9¢:<CD8¡q8+;N=Pu9DOJg£O9>¢:<CD8¢NPBIKOgJ4j$;_m *)) ~ r$Mj/B+CO¡9DO+;_;OQ:_I.e8\q;8&N89:N
bPu;Og IKggI ON &%/L ]^Pj9>w1r &% P; ;8gKI.IKPj N ;8IKg O9> ]^P; :18+;"&%/
BPu9NI>8;O{:<IKP9$N\P;F:18+gKgWN\O+sPj:N_CDO8, RIx CDP2 P;5sg}OJi8,]^IK9>8+;, r 5 IK9OggKmLD2BP;8
9DO+;_;OQ:<I}e/8N#4iO+;8Ss;PjC&:#:PgKIC&:6sm:1O2IK9 I9:1P OBBPDj9:gKO9~j/O+8L;=8J<8;89&:N O+9D> N_mSsPg N\NP
ON:<PIK>89:_IKWm Ob9O;_;O{:<I.e8WN5<P; 9 8q2IKBQT<C8+;PIKBL :<;1O+IKBL£BPufI BL;PubOJ9:_I}Br#CIWN:<CI.;>:km~q8fPu
I ggK98&NQN 9O+;_;=O{:<I.e8¡iIC&:1LI9iSmPqI9I}P29L$gK8O>b:1PBPu9DB8+9&:<;=O{:<IK9¢:1PPfIK9&:18+9$N=8JgKmiP9b:<CD8¡<P; |fI:1C
:<CD85;_IWN_iP gKP$NIK9NIK2C:#P$:<C85f8O9IK9r
) !^ )$KKQ JD&*{-/¥/( ¥l !1
mjq$N8{:W:<IK9d8+eu8+;_m>O+m;PDj:<I98&NL0s8BP2fIK9IKgg O9> s/8IK9dIg gO+;8 BO{jN8N'P2j$9B8;k:1O+IK9&:<mo<P;
qOQ:<IK89&:NlOJ9D>:<CP$N8oBgKP$N8¦:P:<C8r7#CI Nij$9DB8+;k:1OIK9:WmHO__8B{:Se/O+;IKPjNOB{:_I.eI:1I 8&N*P;8{eu89:<C8
q8;NP9WN|fCP2g}88pIWN<:18J9DB8r$]^O{:_I}8J9:N5|bPu;_ PDj~:¡N<:W;O:<82IK8N\<P;\BPuqIK9 |fI:1C:<CIWN5jqC8O+eOg OJ9>
jN=8AeuO+;IKPjN#;8&N=PDj;B8&N :1PS;8P;_O9I N=8F:<C8IK;0gKI.e/8NQr*Wi+W.f¡ CDO&N6O>8O9
j9D>89IO+sg 8BP9&:<;I.sj:<IKP9¡:1P¡:<CIWN6>IWNB{jNQNI}P29$r05m\|fO+mlP BPuSqO; IWN=Pu9DLD:<CD8P&:<C8+;:W|'PFxPj;_9OgWN6P2
su8CO+eIKPj;Og0N,BI 8J9DB8¢iOIK92gKm*;O+9*O+;<:_IKBg 8N Pu9 N<:<;8&N,NL BPuqIK9L gKI _8f8+e89&:N O9D> N=P2BIKOgNkjqqP;W:IK9
;=8Jg}O{:_I}Pu9:1P B+C;=Pu9IKBoIg gK98DN,N8N*O9>n:<C8I.; BP92N8h&j/8J9DB8N*P9 s/8CDOeI}PDj;N r \g:<CPjC ¡8+;CDO+;>&:
E CO>YN_CDPD|'9CP| BP9B8+q:Wj/O+gKIWNIK9BPqI9~oO&N ONPBJI}OJg OB{:1IKP9BPjgK>¦CD8gq;8BPu9Nk:<;kj/BQ:
:<CD8 gIK18_8+e/89&:HO+qq;1POB+CL:<CD8 IKgKgK98NN 8+pDq$8+;IK89B8 |bO&N N<:_IKgKg¦su8I9§N88J9yW;=P2 O CP2gKIWNk:1IKB
q8;N_q8BQ:<I}e/8~r3#CINiq8+;N1q8B{:<I.e8L5<;P2w:<C8 q/O{:<I 89&:1WN¢eI 8+|SqPIK9&:1L5<PB{jN8>P9:<CD8>uI.e/8+;NI:kmHP2
8Qpq8+;I 89B8N P2gKI.e/I9|fI:1C*IggK98&NQN{ CDPD| O+;8SqO{:<IK89&:N OB{:_I.eu8¢IK9 8+eu8+;_m>O+m gKI _8¡[fP| O+;=8 :<C8I.;
g I.e/8&NNCO+q8>¡smS:<CD8¡NPBIKOg$BP9&:18Qp: @[bP| >P:<C8+mfC8gKqiBCO98F:<CIWN6BP9&:18Qp:
? +G'* 2 E*K